MIRA INFORM REPORT
|
Report No. : |
339868 |
|
Report Date : |
07.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
RAAJRATNA METAL INDUSTRIES LIMITED |
|
|
|
|
Formerly Known
As : |
RAAJRATNA CHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
909, Sakar III, Near Income Tax Circle, Navrangpura, Ahmedabad -
380014, Gujarat |
|
Tel. No.: |
91-79-27543681 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
09.05.1988 |
|
|
|
|
Com. Reg. No.: |
04-010673 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 83.622 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231GJ1988PLC010673 |
|
|
|
|
IEC No.: |
0890004293 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMR00405G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR9980M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
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Line of Business
: |
Manufacturing of Stainless Steel Wires and Bright Bars. |
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|
|
|
No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Raajratna Metal Industries
Limited is an "ISO 9001:2008" accredited company incorporated in
the year 1988, it is well established company having a satisfactory track
record. The rating on
company reflects healthy operational base marked by strong financial risk
profile, capital structure, fair profitability backed by its comfortable debt
protection metrics. The rating further
derive strength on company established position in the stainless steel wires
industry, diversified geographical and end-user industry profiles and its
healthy scale of operations. This rating
strengths are partially offset by the working-capital-intensive operations
and the inherent susceptibility of its operating margin to volatility in
foreign exchange rates. Trade relation are
reported as fair. Business is active. Payments are reported to be usually
correct. The company can be
considered normal for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Bank Facilities=BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
April, 2015 |
|
|
|
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term Bank Facilities=A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk |
|
Date |
April, 2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Harshil |
|
Designation : |
Account Executive |
|
Contact No.: |
91-22-24938675 |
|
Date : |
04.09.2015 |
LOCATIONS
|
Registered Office/ Factory 1 : |
909, Sakar III, Near Income Tax Circle, Navrangpura, Ahmedabad -
380014, Gujarat, India |
|
Tel. No.: |
91-79-27543681-82-83 |
|
Fax No.: |
91-79-27543085 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
4000 Sq. Ft |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
Bileshwarpura, Ahmedabad - Mehsana Highway, Taluka Kalol, District Gandhinagar, Gujarat, India |
|
Tel. No.: |
91-27642-33664/ 5 |
|
Fax No.: |
91-27642-33663 |
|
Location : |
Owned |
DIRECTORS
AS ON 27.09.2014
|
Name : |
Mr. Arvind Dalichand Sanghvi |
|
Designation : |
Managing Director |
|
Address : |
15, Shanti Niketan Society, Opposite Gujarat College Road,
Ellis Bridge, Ahmedabad – 380007, Gujarat, India |
|
Date of Birth/Age : |
30.03.1957 |
|
Qualification : |
B.E |
|
Date of Appointment : |
27.09.2004 |
|
PAN No.: |
AACPS9853K |
|
DIN No.: |
00435340 |
|
|
|
|
Name : |
Mr. Babulal Dalichand Sanghvi |
|
Designation : |
Managing Director |
|
Address : |
Sanghvi Mansion, 17 Lakdawala Building, 5th Khtwadi Lane,
Mumbai - 400004, Maharashtra, India |
|
Date of Birth/Age : |
08.10.1951 |
|
Qualification : |
B.COM |
|
Date of Appointment : |
27.09.2005 |
|
PAN No.: |
AACPS4439D |
|
DIN No.: |
00601159 |
|
|
|
|
Name : |
Mr. Tarachand Dalichand Sanghvi |
|
Designation : |
Whole-Time Director |
|
Address : |
43, Highway Park Society, Rambaug Road, Sabarmati,
Ahmedabad – 380005, Gujarat, India |
|
Date of Birth/Age : |
18.07.1947 |
|
Qualification : |
B.COM |
|
Date of Appointment : |
27.09.2005 |
|
PAN No.: |
ACIPS6387C |
|
DIN No.: |
00601195 |
|
|
|
|
Name : |
Mr. Naresh Babulal Sanghvi |
|
Designation : |
Whole-time director |
|
Address : |
17, Sthanakvashi Jain Society, Naranpura Railway Crossing,
Shantinagar Ashram Road, Ahmedabad-380013, Gujarat, India |
|
Date of Birth/Age : |
13.06.1973 |
|
Qualification : |
B.E |
|
Date of Appointment : |
20.10.2001 |
|
PAN No.: |
AACPS4438C |
|
DIN No.: |
00601322 |
|
|
|
|
Name : |
Mr. Ashimkumar Rakhalraj Banerjee |
|
Designation : |
Whole-time director |
|
Address : |
Evershine Apartment II, J. P. Road, Andheri (West), Mumbai
– 400053, Maharashtra, India |
|
Date of Birth/Age : |
04.09.1949 |
|
Qualification : |
B.E |
|
Date of Appointment : |
01.04.2007 |
|
PAN No.: |
AAUPB9079Q |
|
DIN No.: |
02010493 |
|
|
|
|
Name : |
Mr. Manish Babulal Sanghvi |
|
Designation : |
Whole-Time Director |
|
Address : |
17, Sanghvi Mansion, Lakdawala Building, 1st Floor,
Khetwadi, 5th Lane, Mumbai – 400004, Maharashtra, India |
|
Date of Birth/Age : |
23.05.1980 |
|
Qualification : |
B.COM |
|
Date of Appointment : |
18.05.2010 |
|
PAN No.: |
AACPS6102P |
|
DIN No.: |
03089574 |
KEY EXECUTIVES
|
Name : |
Mr. Purvashi D. Adhvaryu |
|
Designation : |
Secretary |
|
Address : |
20, Avantika Park, Raw House, Behind Sun-N-Step Club, Memnagar,
Ahmedabad - 380061, Gujarat, India |
|
Date of Appointment : |
01.09.2011 |
|
PAN No.: |
AFRPA1633B |
|
|
|
|
Name : |
Mr. Harshil |
|
Designation : |
Account Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2014
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 27.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
0.01 |
|
Directors
or relatives of directors |
99.99 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Stainless Steel Wires and Bright Bars. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Stainless Still Wires |
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Countries : |
· Russia · Singapore · Israel · Argentina · Australia · Bahrain · Germany · USA |
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Imports : |
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Products : |
Raw Material |
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Countries : |
· Japan · UK · China |
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Terms : |
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Selling : |
Cash, Cheque and Credit |
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Purchasing : |
Cash, Cheque and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Retailers, End Users and OEMs
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No. of Employees : |
1000 (Approximately) |
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Bankers : |
·
The Bank of Baroda Limited Ashram Road Branch, Vallabh
Sadan, Opposite Natraj Cinema, Ahmedabad - 380009, Gujarat, India ·
Yes Bank Limited 9th
Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli,
Mumbai-400018, Maharashtra, India |
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Facilities : |
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|
Banking
Relations : |
-- |
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Auditors 1 : |
|
|
Name : |
Shah
Kantilal and Company Chartered Accountants |
|
Address : |
804, Mauryansh Elanza,
Near Parekhs Hospital, Shyamal Cross
Road, Satellite, Ahmedabad, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFM6805H |
|
|
|
|
Auditors 2 : |
|
|
Name : |
Mehta
Lodha and Company |
|
Address : |
804, Sarap Building,
Opposite Navjivan Press, Off Ashram Road, Ahmedabad-380014, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAMFS3865K |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Subsidiary Company : |
·
Stainless Wire Limited, United Kingdom ·
Raajratna Stainless Wire (USA) Inc ·
Erre Inox S. P. A, Italy ·
PT. Raajratna Wire, Indonesia |
|
|
|
|
Associates : |
·
Raajratna Electrodes Private Limited, India
(U29308GJ1991PTC016444) ·
Raajratna Stockholding Private Limited,
India (U65990GJ1992PTC018491) ·
Raajratna Ventures Limited, India
(U27209GJ2004PLC044288) ·
Real Strips Limited, India
(L27100GJ1990PLC014383) ·
Concept Infoway Private Limited, India
(U72900GJ2000PTC037745) ·
Unical Chemicals India Private
Limited,India (U51494GJ2010PTC060200) |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs. 10/- each |
Rs. 100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8362166 |
Equity Shares |
Rs. 10/- each |
Rs. 83.622
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
83.622 |
83.622 |
83.622 |
|
(b) Reserves & Surplus |
1795.619 |
1395.227 |
1198.387 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1879.241 |
1478.849 |
1282.009 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
20.198 |
103.096 |
364.423 |
|
(b) Deferred tax liabilities (Net) |
165.805 |
159.063 |
169.019 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
23.180 |
20.050 |
16.817 |
|
Total
Non-current Liabilities (3) |
209.183 |
282.209 |
550.259 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
2508.946 |
2263.120 |
2469.136 |
|
(b)
Trade payables |
246.009 |
339.817 |
490.391 |
|
(c)
Other current liabilities |
106.164 |
267.863 |
133.582 |
|
(d)
Short-term provisions |
212.211 |
153.018 |
113.246 |
|
Total
Current Liabilities (4) |
3073.330 |
3023.818 |
3206.355 |
|
|
|
|
|
|
TOTAL |
5161.754 |
4784.876 |
5038.623 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1243.573 |
1296.477 |
1345.345 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
16.754 |
12.915 |
19.710 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
174.331 |
87.992 |
48.645 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
22.478 |
17.797 |
15.264 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
1457.136 |
1415.181 |
1428.964 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1049.288 |
780.794 |
970.540 |
|
(c)
Trade receivables |
2056.621 |
1984.339 |
2008.191 |
|
(d)
Cash and cash equivalents |
18.792 |
13.414 |
38.630 |
|
(e)
Short-term loans and advances |
579.917 |
591.148 |
592.298 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
3704.618 |
3369.695 |
3609.659 |
|
|
|
|
|
|
TOTAL |
5161.754 |
4784.876 |
5038.623 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5796.867 |
6202.430 |
6012.575 |
|
|
|
Other Income |
28.939 |
8.981 |
11.340 |
|
|
|
TOTAL (A) |
5825.806 |
6211.411 |
6023.915 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
3919.702 |
4503.015 |
4760.890 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(65.004) |
27.592 |
(57.061) |
|
|
|
Employees benefits expense |
194.734 |
179.119 |
150.193 |
|
|
|
Other expenses |
866.854 |
834.651 |
727.246 |
|
|
|
Prior Period Expenses |
(0.717) |
2.467 |
0.599 |
|
|
|
TOTAL (B) |
4915.569 |
5546.844 |
5581.867 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
910.237 |
664.567 |
442.048 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
142.640 |
188.182 |
218.198 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
767.597 |
476.385 |
223.850 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
158.464 |
155.204 |
141.896 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
609.133 |
321.181 |
81.954 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
208.742 |
100.044 |
25.520 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
400.391 |
221.137 |
56.434 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Direct
Export-FOB |
3979.834 |
4056.403 |
4310.971 |
|
|
TOTAL EARNINGS |
3979.834 |
4056.403 |
4310.971 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
47.88 |
26.44 |
6.75 |
|
|
PARTICULARS |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
6500.000 |
|
|
|
|
|
The above information has been parted by Mr. Harshil (Account Executive)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
63.453 |
223.254 |
129.153 |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash Flow from (used in) Operations |
460.286 |
823.937 |
408.113 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
6.91 |
3.57 |
0.94 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
15.70 |
10.71 |
7.35 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.25 |
6.86 |
1.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32 |
0.22 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.38 |
1.75 |
2.31 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21 |
1.11 |
1.13 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
83.622 |
83.622 |
83.622 |
|
Reserves & Surplus |
1198.387 |
1395.227 |
1795.619 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1282.009 |
1478.849 |
1879.241 |
|
|
|
|
|
|
Long-term borrowings |
364.423 |
103.096 |
20.198 |
|
Short term borrowings |
2469.136 |
2263.120 |
2508.946 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
129.153 |
223.254 |
63.453 |
|
Total
borrowings |
2962.712 |
2589.470 |
2592.597 |
|
Debt/Equity
ratio |
2.311 |
1.751 |
1.380 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
6012.575 |
6202.430 |
5796.867 |
|
|
|
3.158 |
(6.539) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
6012.575 |
6202.430 |
5796.867 |
|
Profit |
56.434 |
221.137 |
400.391 |
|
|
0.94% |
3.57% |
6.91% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
Yes |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10530302 |
08/10/2014 |
100,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, DISCOVERY
OF INDIA, DR. A.B. ROAD, WOR |
C33007105 |
|
2 |
90098705 |
20/07/2013 * |
3,900,000,000.00 |
BANK OF BARODA |
ASHRAM ROAD BRANCH,
VALLABH SADAN, OPP. NATRAJ CI |
B80544554 |
|
3 |
90098129 |
26/12/1996 * |
41,000,000.00 |
THE INDUSTRIAL CREDIT AND INVESTMENT CORPORATION O |
163;BACKBAY
RECLAMATION, BOMBAY- 400 |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Intercorporate borrowings |
0.000 |
0.226 |
|
|
|
|
|
Total |
0.000 |
0.226 |
OPERATIONS
AND FUTURE PROSPECTS
The Company has performed satisfactorily
during the year under consideration; Net Sales has been at Rs.567.55 Crores
against Rs 6122.300 Million compared to previous year and Net profit after tax
increased to Rs. 400.400 Million against Rs.221.100 Million compared to
previous year.
FUTURE
PROSPECTS
Looking to the demand, the
Company has ordered for another Profile Rolling Mill to manufacture Profile
Wire. The existing Profile Rolling Mill is working satisfactorily. Your Company
is trying to add more and more value added products.
CORPORATE INFORMATION :
Raajratna Metal Industries
Limited is a Limited company domiciled in India and Incorparated under the
provisions of the Companies Act, 1956. The company is engaged in the
manufacturing of Stainless Steel Wires and Bright Bars.
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
·
Other Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 66.40 |
|
|
1 |
Rs. 101.19 |
|
Euro |
1 |
Rs. 73.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
IND |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
51 |
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.