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R.S.H. AGRO PRODUCTS LIMITED

Last Updated on ' Mar 23, 2021 '
Description
We are a company in agro based food processing industries manufacturing and having backward linkages as follows 1. Mustard Seed, mustard oil milling 2. Blended Edible Vegetable Oil 3. Rice Bran Oil, Palm Oil refinery and other edible oils Our sales and profits were increasing. But unfortunately for us, to improve our competitiveness and profitability, we decided to go for a backward integration by setting up an edible oil refinery and logistics. To meet the Capex and Working Capital requirement, we submitted the proposal in October, 2017 to Punjab National Bank. We have been banking with PNB for the last 11 years and the dealings were very satisfactory before the starting of this horrific episode which is hovering for around 3.5 years now. The sanction was inordinately delayed due to various explainable and unexplainable reasons and was finally sanctioned and communicated to us on 29.12.2018. This sanction couldn't be disbursed due to certain contradictory and uncompliable conditions and amendment was moved on 16.01.2019 but to no avail. The bank communicated to us on 18.12.2019 that our sanction has expired and we have to submit a fresh proposal. We submitted the fresh proposal on 26.12.2019 and which is still pending. Now we are in a stressed situation, the account is in SMA-II category and will become NPA on 31st March, 2021 or on 1st April, 2021. We are looking for Stressed Assets Fund and are left with two options as follows: 1. Regularize the account with the bank and have additional funding to run the business profitably. The estimated fund requirement will be Rs.50 Crore. 2. To take our company either to NCLT or through any other forum and take over the unit from the bank and have additional funding & run the unit. The estimated fund requirement will be Rs.125 Crore. Viability Proposition: I. We have agriculture linkage with farmers and cooperative societies to source our mustard seed at an economical rate and assured supply every year in the season. II. Our edible oil refinery is operational and with Capex of around Rs.15 Crore, the capacity increase gradually to 300 Tons Per Day. We have tie up with local solvent extraction plant from which we can procure upto 3000 MT per month Crude Rice Bran Oil at a competitive price. Also, Crude Palm Oil is available in North East from local plantations and oil expeller units to the tune of around 1000 MT per month presently which is set to increase upto 6000 MT per month. The above raw materials will greatly contribute to our extra profitability. We have six brands under which we sell our final products of consumer packs of following sizes: 1 Ltr, 500 ML, 200 ML, 100 ML, in pouches and pet bottles. We also have Rs.5, Rs.10, 15 Ltr or Kg tin SKU in our profile. Our brands are Jivan Dhara, Luit Star, Swad, Prime, Anmol and Jiyo Health. The break-up of Capex required is as follows: For 100 TPD: Rs 2.50 Crore For 200 TPD: Rs 5.50 Crore For 300 TPD: Rs 6.50 Crore Totaling Rs.15.00 Crore which will be required in a gradual manner. The minimum profitability for 3000 MT per month is expected at Rs. 25 Crore per month and at 9000 MT per year, the maximum profitability will Rs.100 Crore per year by providing interest and depreciation. The TEV Study of the project has been done by CARE Advisory and Dun & Bradstreet. The Company is willing to become a listed company once the operations are stabilized and listing criteria are met.
Sector
Food Processing & Agriculture
Sub Sector
Food Processing & Additives
Company Type
Unlisted
Type
Manufacturing
Employees
50
Register Address
VILLAGE AMBHER, 12TH MILE JORABAT GUWAHATI AS 781023 IN
Website
https://www.rshagro.com/
Key Products/Services
1. Mustard Seed, mustard oil milling 2. Blended Edible Vegetable Oil 3. Rice Bran Oil, Palm Oil refinery and other edible oils 4. Purified Rice Bran Wax
Key Resources/Assets
Highest Turnover achieved: Rs.226 Crore in the FY 2017-18, PAT Rs.10.43 Crore Equity & Reserves: Rs.13.88 Crore Property, Plant & Equipments: Rs.25.90 Crore Stocks & Receivables: Rs.55 Crores Other Current Assets: Rs.13.56 Crores
Stressed Asset Details Expand All 
1. Captive Market 2. Six established Brands 3. Raw materials like Mustard Seeds are locally available 4. Rice bran oil & palm oil are available locally. 5. Tax benefits & incentives under State Govt. & Central Govt. Policies NEIDS accrued to the tune of Rs.54 Crores.
USD 0.862
Stressed Asset Related Documents
No Document found
Financial Information Documents
No Document found
Year Revenue (in INR Crores) Net Income (in INR Crores) Liabilities (in INR Crores) Fixed & Current Assets (in INR Crores) Current Ratio Quick Ratio RoE RoA EBITDA Margin PAT Margin
2018 30.19 mn 1.39 mn 7.71 mn 11.81 mn 1.37 0.46 8.58 11.77 7.45 4.62
2019 22.19 mn 0 8.15 mn 12.18 mn 1.14 0.41 0.0 0.0 3.17 0.0
2020 7.89 mn 0 10.06 mn 11.87 mn 1.04 0.42 0.0 0.0 0.0 0.0
Stressed Assets Timeline
Defined Date Without Date

Commencement of CIRP

Public Announcement by Resolution Professional

Claim submission

Invitation for Expression of Interest

Submission of Expression of Interest

Submission of Resolution Plan

Committee of Creditors Approval

Submission of Resolution Plan to NCLT

Approval of Resolution Plan by NCLT

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