Suumaya Corporation Ltd Company Summary

Suumaya Corporation Ltd Summary

The Company was originally incorporated as Rangoli Tradecomm Private Limited in Kolkata, West Bengal as a Private Limited Company under the provisions of Companies Act, 1956 vide Certificate of Incorporation dated July 30, 2009, issued by Registrar of Companies, West Bengal. Subsequently, the Company got converted into a Public Limited Company pursuant to Special Resolution passed by the Shareholders at the Extra Ordinary General Meeting held on September 24, 2020 and consequent upon conversion, the name of Company was changed to Rangoli Tradecomm Limited vide a fresh Certificate of Incorporation dated November 09, 2020 issued by Registrar of Companies, Kolkata. The Company is currently engaged in the business of trading of Polymers and Textile products. Polymer trading business includes commodity polymer, engineering polymer & chemicals and additives while Textile trading business includes trading of yarns, threads and fabrics. Apart from this, the Company has presence in North India, Delhi, Haryana, Himachal Pradesh, Rajasthan and Punjab & also covering western regions of Gujarat and Maharashtra.The Company functions on two business models for supplying Polymers and Textile products comprising of Business 2 Business model (B2B) and Business to Customer model (B2C). The Company supplies raw material to yarn and fabric manufacturers on credit basis depending on the vendor creditability and procure the same on advance or cash on delivery (COD) basis due to which it get cash discount as well as volume benefit. In some cases, Company purchases final product of the same factory and sell it to traders, semi-wholesalers and garment manufacturer. The Company trade in imported products from various countries at pre-agreed prices and sell in India in different regions through operation of sales representatives/ team or on purchase order basis.The Company store goods at the E-warehouses or cargo warehouses. It helps to remove the additional costs of freight, leasing of warehouses and auxiliary costs of staffing and security-check equipments. It eliminates costs of leasing or purchasing physical warehouses space and staffing costs. The Company enables to improve the inventory tracking and prevents loss or damage of items. The Company stock goods at bonded warehouses which helps to store goods with complete security without having to pay custom duty until the client requires the exit of goods no longer the warehouse operators have permission from government authorities. The Company is dependent on third party vendor for the transportation facilities at every stage of business activities, including the procurement and loading of goods from suppliers and unloading them in warehouses and transporting products to distributors/customers. The Company focuses on the quality of products which are supplied to vendors. It check whether the products meet the specifications and requirements of customers. At the time of checking the quality of goods, if they are found moist or spoiled, such goods shall be replaced by the principal supplier and are fixed before delivering it to customers. The Company executes supply chain by providing raw materials to the SME and MSME sector in a timely and cost effective manner. The Company intends to deliver products with speed and frequency, making it possible for SME and MSME partners to moderate their working capital outlay and strengthening their competitiveness. The Company focused on specific spaces, strengthening its brand. It enhanced market share in the PVC trading segment, especially in North and North Central zones within a short time of entering this space in 2019. During the year 2021, the Company executed trading of Textile products which includes yarn, threads, fabrics and medical textiles, polymers which includes commodity polymers like PVC, HDPE, LDPE, LLDPE PP etc, non-ferrous metals like manganese ore and chemical additives like bitumen. The Company successfully raised Rs. 25.42 crores by issue and allotment of shares on preferential basis and Rs. 45.14 crores from the IPO.