MIRA INFORM REPORT
|
Report Date : |
10th May, 2006 |
IDENTIFICATION DETAILS
|
Name : |
DIVYA BHIRAMI AGRO SALES
PRIVATE LIMITED |
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Registered Office : |
24-2-22/AA,
Chaparalavari Street, Patnam Bazar, Guntur-522003, Andhra Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2004 |
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Date of Incorporation : |
18.05.1998 |
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CIN No.: |
U24219AP1998PTC029420 |
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Com. Reg. No.: |
01-29420 |
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Legal Form : |
A
Private Limited Liability Company. Company limited by shares |
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Line of Business : |
Manufacturers
of Pesticides and Insecticides |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
RATING
|
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
Small |
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Maximum Credit Limit : |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject
is an old and established company having satisfactory track. Business is
active. Trade relations are reported as fair. Company’s profitability is low.
Payments are reported as slow but correct. The company can be considered for
small business dealings at usual trade terms & conditions |
LOCATIONS
|
Registered Office/Head
Office : |
24-2-22/AA,
Chaparalavari Street, Patnam Bazar, Guntur-522003, Andhra Pradesh |
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Tel. No.: |
91-863-2350961/5541199 |
DIRECTORS
|
Name : |
Molopuri
Kishore Babu |
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Designation : |
Managing
Director |
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Address : |
3-29-13/31A,
Krishna Nagar, 6th Lane, Gunter-522006, Andhra Pradesh |
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Date of Birth/Age : |
01.07.1955 |
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Date of Appointment : |
18.05.1998 |
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Name : |
Molopuri
Anantha Lakshmi |
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Designation : |
Director |
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Address : |
3-29-13/31A,
Krishna Nagar, 6th Lane, Gunter-522006, Andhra Pradesh |
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Date of Birth/Age : |
06.10.1958 |
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Date of Appointment : |
18.05.1998 |
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Name : |
Battula
Sri Lakshmi |
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Designation : |
Director |
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Address : |
3-29-13/31A,
Krishna Nagar, 6th Lane, Gunter-522006, Andhra Pradesh |
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Date of Birth/Age : |
06.10.58 |
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Date of Appointment : |
18.05.1998 |
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MAJOR SHAREHOLDERS
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Names of Shareholders |
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No. of Shares |
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Battula Lakshmi |
|
2,500 |
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Battula Pitchaiah |
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2,500 |
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Battula Ramesh Babu |
|
2,500 |
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Battula Sambasiva Rao |
|
2,500 |
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Battula Scetharavamma |
|
1,500 |
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Battula Srilakhmi |
|
7,000 |
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Raghunatha Roa |
|
2,000 |
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Inampudi Narsimha Rao |
|
2,000 |
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Koya Sambasiva Rao |
|
2,000 |
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Koya Venkadah |
|
2,000 |
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Kasaragaddha Venkateswara |
|
3,000 |
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Mulipuri Anantha Lakshmi |
|
5,000 |
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Mulipuri Brijesh Kumar |
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4,000 |
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Mulipuri Chandramouli |
|
2,500 |
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Mulipuri Hymavathi |
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2,000 |
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Mulipuri Kishore Babu |
|
5,500 |
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Makinend Latha Chowdary |
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3,000 |
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Muppa Ranga Rao |
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2,000 |
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Mulipuri Rangamma |
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4,500 |
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Mulipuri Satish Babu |
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2,000 |
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Mulipuri Satyanarayana |
|
4,000 |
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Mulipuri Srinivasa Rao |
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2,000 |
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Muppala Subba Rao |
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2,000 |
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Mulipuri Sudheer Babu |
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3,000 |
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Mannava Veeriah |
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2,000 |
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Mulipuri Venu Babu |
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3,000 |
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Mulipuri Vijaya Lakshmi |
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4,000 |
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Mikinani Veeraiah Chowdary |
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4,500 |
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Mulipuri Vamsy Krishna |
|
4,500 |
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Nimmagadda Venkateshwara
Rao |
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2,000 |
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Pullela Padmavathi |
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2,000 |
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Pullela Chakrapani |
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3,000 |
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Valiveti Srinivasa Rao |
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2,500 |
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Vajja Ankamma Rao |
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2,000 |
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BUSINESS DETAILS
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Line of Business : |
Manufacturers
of Pesticides and Insecticides |
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GENERAL INFORMATION
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Bankers : |
The
Vysya Bank |
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Banking Relations : |
Satisfactory |
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Auditors : |
Narsimha
Rao & Company Chartered
Accountant |
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Address: |
6th
Lane, Arundelpet, Guntur-522002, Andhra Pradesh |
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Tel. No.: |
91-863-2234036/2326049 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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100,000 |
Equity
Shares |
Rs. 10 each |
Rs. 1.000 million |
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Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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100,000 |
Equity
Shares |
Rs. 10 each |
Rs. 1.000 million |
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FINANCIAL
DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
|
31.03.2004 |
31.03.2003 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
3.122 |
3.122 |
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3] Reserves & Surplus |
|
0.453 |
0.429 |
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NETWORTH
|
|
3.575 |
3.551 |
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LOAN FUNDS |
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1] Secured Loans |
|
1.642 |
2.156 |
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2] Unsecured Loans |
|
0.665 |
0.545 |
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TOTAL
BORROWING
|
|
2.307 |
2.701 |
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TOTAL
|
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5.882 |
6.252 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
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0.624 |
0.337 |
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Capital work-in-progress
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- |
- |
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INVESTMENT
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- |
- |
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CURRENT ASSETS, LOANS & ADVANCES
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Inventories
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1.510 |
2.702 |
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Sundry Debtors
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|
7.391 |
7.800 |
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Cash & Bank Balances
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|
0.347 |
0.580 |
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Other Current Assets
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|
0.143 |
0.456 |
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Loans & Advances
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|
0.163 |
0.073 |
Total Current Assets
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|
9.554 |
11.611 |
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Less : CURRENT LIABILITIES & PROVISIONS
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Current Liabilities
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4.223 |
5.685 |
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Provisions
|
|
0.075 |
0.015 |
Total Current Liabilities
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4.298 |
5.700 |
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Net Current
Assets
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|
5.256 |
5.911 |
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MISCELLANEOUS EXPENSES
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|
0.002 |
0.004 |
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TOTAL
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5.882 |
6.252 |
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PROFIT & LOSS ACCOUNT
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PARTICULARS |
|
31.03.2004 |
31.03.2003 |
Sales Turnover [including other income]
|
|
46.282 |
43.560 |
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Profit/(Loss) Before Tax
|
|
0.100 |
0.115 |
Provision for Taxation
|
|
0.076 |
0.051 |
Profit/(Loss) After Tax
|
|
0.024 |
0.064 |
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Total Expenditure
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46.306 |
43.624 |
KEY RATIOS
|
PARTICULARS |
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|
31.03.2004 |
31.03.2003 |
PAT / Total Income
|
(%)
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0.05 |
0.15 |
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Net Profit Margin
(PBT/Sales) |
(%) |
|
0.24 |
0.30 |
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Return on Total Assets
(PBT/Total Assets} |
(%) |
|
0.98 |
0.96 |
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Return on Investment (ROI)
(PBT/Networth) |
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|
0.03 |
0.03 |
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Debt Equity Ratio
(Total Liability/Networth) |
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1.85 |
2.36 |
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Current Ratio
(Current Asset/Current
Liability) |
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2.22 |
2.04 |
LOCAL AGENCY FURTHER INFORMATION
Name
of the Company: DivyaBhirami Agro Sales Private Limited
Presented
By: Mulupuri Kishore Babu
- Date and Discription
of the instrument creating the charge: Hypothecation Agreement –Stock – in
– Trade
- Amount secured by the
charge/Amount owing on security of the charge: Rs. 0.750 millions
- Short Particulars of
the property charged. If the property acquired is subject to charge, date
of acquisition of property should be given: Hypothecation Agreement –Stock
– in – trade ie., all types of Pesticides and Insectisides Manufactured by
various companies
- Gist of the terms and
conditions and extent and operation of the charge: First charge on the stocks at shop and
godown. Interest at the rate of 9.87% pa with Quarterly rests
- Names, addresses and
description of the persons entitled to the charge: The Vysya Bank Limited,
Guntur Main Branch, Andhra Pradesh
- Date and Brief
description of instrument modifying the charge: NA
- Particulars of
modification specifying the terms, condition or the extent of operation of
the charge in which modification is made, and the details of the
modification: NA
Name
of the Company: DivyaBhirami Agro Sales Private Limited
Presented
By: Mulupuri Kishore Babu
1.
Date and Discription of
the instrument creating the charge: Hypothecation Agreement –Stock – in – Trade
2.
Amount secured by the
charge/Amount owing on security of the charge: Rs. 0.750 millions
3.
Short Particulars of the
property charged. If the property acquired is subject to charge, date of
acquisition of property should be given: Hypothecation Agreement –Stock – in –
trade ie., all types of Pesticides and Insectisides Manufactured by various
companies
4.
Gist of the terms and
conditions and extent and operation of the charge: First charge on the stocks at shop and godown. Interest at the
rate of 9.87% over the Bank Rate with the minimum of 18.87% pa With Quaterly
rests
5.
Names, addresses and
description of the persons entitled to the charge: The Vysya Bank Limited,
Guntur Main Branch, Andhra Pradesh
6.
Date and Brief
description of instrument modifying the charge: Hypothecation Agreement –Stock
– in – Trade
7.
Particulars of
modification specifying the terms, condition or the extent of operation of the
charge in which modification is made, and the details of the modification:
Existing limit of Rs. 0.750 millions enhanced to Rs. 1.250 millions and Rate of
interest reduced from 18.87% pa to 17.85% pa
compounded with Quarterly rests. These terms are effective from
19.11.1999
Name
of the Company: DivyaBhirami Agro Sales Private Limited
Presented
By: Mulupuri Kishore Babu
- Date and Discription
of the instrument creating the charge: 08.04.2002
- Letter of Agreement
– Cash, Credit, Advance
- Agreement for
Hypothecation of current assets
- Deed of
Hypothecation of book debts
- Amount secured by the
charge/Amount owing on security of the charge: Rs. 2.500 millions
- Short Particulars of
the property charged. If the property acquired is subject to charge, date
of acquisition of property should be given: Hypothecation Agreement –Stock
– in – trade ie., all types of Pesticides and Insectisides Manufactured by
various companies and receivable present and future
- Gist of the terms and
conditions and extent and operation of the charge: First charge on the stocks at shop and
godown. Interest at the rate of 15% pa i.e. 3% above UTI Bank’s PLR with
Quarterly rests
- Names, addresses and
description of the persons entitled to the charge: UTI Bank Limited,
Guntur
- Date and Brief
description of instrument modifying the charge: Nil
- Particulars of
modification specifying the terms, condition or the extent of operation of
the charge in which modification is made, and the details of the
modification: NA
CMT REPORT [Corruption, Money laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION
ON DESIGNATED PARTY
No records 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 records 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.45.30 |
|
UK
Pound |
1 |
Rs.78.45 |
|
Euro |
1 |
Rs.54.88 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
33 |
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
|
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 |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
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 |