MIRA
INFORM REPORT
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Report Date : |
03.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
FTI
CONSULTANTS PRIVATE LIMITED |
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Registered Office : |
305,
Anmol Sagar Darshan, 9/1, New Palasia, Indore – 452003, Madhya Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
28.02.2005 |
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Com. Reg. No.: |
10-17384 |
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CIN No.: [Company
Identification No.] |
U51109MP2005PTC017384 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BPLF00232B |
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PAN No.: [Permanent
Account No.] |
AAACF8713A |
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Legal Form : |
Private
Limited Liability Company. |
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Line of Business : |
To
carry on of the business as a food consultants, management consultants,
processors, millers, merchants, traders, commission agents, buying agents,
selling agent, brokers, adatias, consulting, buyers, sellers, importers,
exporters, dealers in collectors to under take research and development food
equipment, refrigeration and manufacturing activities of or in other capacity
and to import, export, buy sell, barter, exchange, pledge, mortgage, advance
upon or otherwise trade and deal in processed goods, agricultural products,
food grains, pluses, all kinds of oils, oil seeds, oil cakes, cash cotton,
tea, jute, coffee, spices, fruits, vegetables, flowers, milk, milk products,
dairy products, other food, produce, articles and merchandise of any kind
whatsoever, raw materials required by industries, semi finished products of
industries and finished products of industries including equipment,
components, spare parts colour chemicals, cleaning agents, intermediates,
electrical goods, in connection with spices.
Provide
Technological services to Process Food Industry. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
New
Company |
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Payment Behaviour : |
Usually
correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a new company and appear to be doing well. Trade relations are fair.
Payments are usually correct and as per commitments. The
company can be considered for small to mediocre business dealings at usual
trade terms and conditions with slight caution [as it is a new company]. |
LOCATIONS
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Registered Office : |
305,
Anmol Sagar Darshan, 9/1, New Palasia, Indore – 452003, Madhya Pradesh, India
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Tel. No.: |
91-731-4045681 |
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Mobile No. : |
91-9302104716 |
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Fax No.: |
91-731-4065681 |
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E-Mail : |
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Website : |
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Area : |
500
sq. ft. |
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Location : |
Owned |
DIRECTORS
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Name : |
Mrs.
Renu Dhoot |
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Designation : |
Director
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Address : |
310-A,
Gumashta Ngar, Indore – 452009 |
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Date of Appointment : |
17.11.2005 |
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Name : |
Mrs.
Aparna Dhadwaiwale |
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Designation : |
Director
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Address : |
8,
Madhuban Colony, Indore – 452009 |
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Date of Appointment : |
17.11.2005 |
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Name : |
Mr.
Naresh Maheshwari |
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Designation : |
Managing
Director |
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Address : |
Banglow
No. C-306, Shalimar Bunglow Park, Sukhliya, Indore – 452008, Madhya Pradesh,
India |
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Date of Birth/Age : |
49
Years |
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Qualification : |
Food
Technologist |
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Date of Appointment : |
28.02.2005 |
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Experience : |
25
Years |
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Name : |
Mrs.
Shyama Maheshwari |
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Designation : |
Director
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MAJOR SHAREHOLDERS
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Names
of Shareholders |
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No. of Shares |
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Mr.
Naresh Maheshwari |
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5000 |
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Mrs.
Renu Dhoot |
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1000 |
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Mrs.
Aparna Dhadwaiwale |
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2000 |
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Mrs.
Shyama Maheshwari |
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2000 |
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Total
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10000 |
BUSINESS DETAILS
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Line of Business : |
To
carry on of the business as a food consultants, management consultants,
processors, millers, merchants, traders, commission agents, buying agents,
selling agent, brokers, adatias, consulting, buyers, sellers, importers,
exporters, dealers in collectors to under take research and development food
equipment, refrigeration and manufacturing activities of or in other capacity
and to import, export, buy sell, barter, exchange, pledge, mortgage, advance
upon or otherwise trade and deal in processed goods, agricultural products,
food grains, pluses, all kinds of oils, oil seeds, oil cakes, cash cotton,
tea, jute, coffee, spices, fruits, vegetables, flowers, milk, milk products,
dairy products, other food, produce, articles and merchandise of any kind
whatsoever, raw materials required by industries, semi finished products of
industries and finished products of industries including equipment,
components, spare parts colour chemicals, cleaning agents, intermediates,
electrical goods, in connection with spices.
Provide
Technological services to Process Food Industry. |
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Agencies Held : |
Inbramaq
Food and Machines Fromatech,
Holland Solan,
Poland Plasta
Foods Limited UK |
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Terms : |
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Selling : |
Contract
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Purchasing : |
Contract
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GENERAL
INFORMATION
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Customers : |
Food
Industry |
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No. of Employees : |
4 |
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Bankers : |
State
Bank of Indore University
Campus Branch Indore
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Banking Relations : |
-- |
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Auditors : |
Anand
Saklecha B Company Chartered
Accountants 303,
Anmal Sagar Darshan, 9/1, New Palasia, Indore – 452003, Madhya Pradesh, India |
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Associates/Subsidiaries : |
Fine
Foods Systems, Indore 305,
Anmal Sagar Darshan, 9/1, New Palasia, Indore – 452003, Madhya Pradesh, India Represent
company and do merchant export. |
CAPITAL STRUCTURE
Authorised
Capital :
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No.
of Shares |
Type |
Value |
Amount |
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20000 |
Equity
Shares |
Rs. 10/- each |
Rs. 0.200 millions |
Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
|
20000 |
Equity
Shares |
Rs. 10/- each |
Rs. 0.200 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.200 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.247 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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0.447 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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0.000 |
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TOTAL BORROWING |
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0.000 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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0.447 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.160 |
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Capital work-in-progress |
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0.364 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
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Sundry Debtors |
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0.065 |
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Cash & Bank Balances |
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[0.169] |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.215 |
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Total Current Assets |
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0.111 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.037 |
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Provisions |
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0.159 |
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Total Current Liabilities |
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0.196 |
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Net Current Assets |
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[0.085] |
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MISCELLANEOUS EXPENSES |
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0.008 |
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TOTAL |
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0.447 |
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PROFIT
& LOSS ACCOUNT
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PARTICULARS |
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31.03.2006 |
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Sales Turnover [including other income] |
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2.190 |
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Profit/(Loss)
Before Tax |
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0.407 |
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Provision
for Taxation |
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0.159 |
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Profit/(Loss)
After Tax |
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0.247 |
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Export
Value [Services] |
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$ 3366.90 |
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Total
Expenditure |
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1.864 |
KEY
RATIOS
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PARTICULARS |
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|
31.03.2006 |
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PAT / Total Income |
(%) |
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11.28 |
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Net
Profit Margin (PBT/Sales) |
(%) |
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18.58 |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
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150.18 |
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Return
on Investment (ROI) (PBT/Networth) |
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0.91 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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0.44 |
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Current
Ratio (Current
Asset/Current Liability) |
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0.57 |
LOCAL AGENCY
FURTHER INFORMATION
Expected March 2007 Rs. 3.500 millions
Trade
Reference
Dazzel
Foods Private Limited
Gprabhpur,
Uttar Pradesh
Mr.
Pankaj Bairohiyn
Mobile
No : 91-9302138589
Apricot
Foods Private Limited
Rajkot,
Gujarat
Mr.
Rajesh Patel
Mobile
No : 91-9879506737
Federal
Foods LLC, Dubai
Mr. S I
Karim
Mobile
No : 91-9715064574
Food
Technology managed by a team of young, dynamic and dedicated professionals
& technologists having vast experience in process technology, process
engineering, quality control and product development.
With a policy of commitment and continuous dedication towards the project from
raw material selection to engineering, processing and packing it has
established its name in Food Sector with a global and long term out look.
Present clientele includes, leading food processors in India and abroad.
Company believe in continuous research and development, so that the clients can
get maximum benefit for the new products and processes.
Company’s top priorities at the foremost are to provide new technology with new
concepts to the clients. Company’s main inclination towards to provide best
available process technology to the clients.
They are committed to meet and satisfy the growing and sophisticated needs of
process food industry in India and abroad.
Projects
Executed
v
Natural
Potato Chips / Crisps processing & packaging.
v
Baked
/ direct expanded extruded ready to eat snacks.
v
Extruded
& fried ready to eat snacks.
v
Frying
& flavouring of Pellet based snacks.
v
Processing,
Frying & Flavouring systems for Indian Ethnic Snacks
v
Whole
spices cleaning system.
v
Spices
milling system.
v
Steam
sterlize spices system.
v
Lentils
& other similar grains cleaning system.
v
Lentils
Milling system.
v
Spices
& lentils – storage system.
v
Material
handling systems – lean phase vaccum pneumatic transfers of whole spices &
grains.
v
Mixing
& blending system for seasonings / flavours
Assistance
No
matter how large or small the project, their commitment is total and far from
taking a One-Size-Fits – all approach, they tailor every solution to the
dynamics of the individual business.
Raw
Materials
Sourcing
out ingredients / additives and raw materials to the Food process industries in
India and abroad, through its principals & associates.
Assistance
v
Project
Concept and Execution
v
Feasibility
Study / Financials
v
Application,
Assistance with Product Development
v
Start
up Assistance, New Products and New Product Lines
v
Development
of Packaging.
v
Quality
Control Management, Preparation of Specifications and Standards (National &
International)
v
Sales
& Marketing Assistance on National & International Level
v
Hardware
Selection
v
Analyzing
the Requirement of HACCP System and its implementation
v
Documentation
and Implementation of Good Manufacturing Practices
Expanding
Technology of Food
Production of new products, with new
technology is rising world over. Demand for processing of food products with
all their interest variability in forever sophisticated new solutions, using
the most modern technology is on priority.
As on policy, before taking up a project, in-house technical group go in
detailed study of the Business Concept and the project for its feasibility from
raw material availability, hardware and software requirements to the package
designing and marketability of finished product on national and international
level. After conducting these studies, the company advise to the client for a
correct solution.
A project report being prepared for a client is having very fine details
along-with its financials with the consultation of its financial and technical
experts. The portfolio consists, a team of Engineers, Technologists, Financial
Experts and Designing Agencies.
Company has a technical support from its associates based in U.K. – which is a
well known and established company engaged in providing technical services to
the food industries world over to meet and serve the challenges and needs of a
growing demand of process food industry.
Missions
Providing
Technological Support, process automation to enable the customers around the
globe to ensure the quality, affordability and consumer safety of the products
for consumers.
They are committed to –
v
The
total satisfaction for their Customers
v
Conducting
business with integrity and respect.
v
On
going innovation
v
Product
Development based on best technology available around the World.
Growing Technological Base
Consumers
in every food product market are showing variety of preferences. They are
simultaneously becoming less predictable. There is greater contrast behavior
consumer groups.
Food Processors / producers are being comforted with fast changing taste
patterns and the days of consumer groups showing broad consistent in taste
preferences are disappearing. Such factors are putting an even heavier load on
the response capability of food manufacturers.
Looking to this Technological Support designed and given to leading food
process companies in India and across the globe is excellent, it has already
been appreciated by the clients time to time.
To further assist the small clients requirement, they have an in house product
development laboratory which also has physical, chemical & microbiological
analytical facility with a test kitchen exclusively for the interesting
clients.
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 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.44.45 |
|
UK
Pound |
1 |
Rs.84.83 |
|
Euro |
1 |
Rs.57.12 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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|
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 |
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|