MIRA
INFORM REPORT
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Report Date : |
07.08.2007 |
IDENTIFICATION DETAILS
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Name : |
DAYAL FERTILIZERS PRIVATE LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
20.10.1978 |
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Com. Reg. No.: |
4680 |
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CIN. No. |
U24121UP1978PTC004680 |
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Tan No. |
MRTD00071B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers of agriculture fertilizers, cattle feeds, pesticides,
insecticides, weedicides, herbicides, organic and inorganic manure for soil
and crops. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 389612 |
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Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Trade
relations are fair. .General financial position is satisfactory. Payments are
usually correct and as per commitments. The company can be considered good for any normal business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered Office / Factory : |
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Tel. No.: |
91-121-2440130 |
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Fax No.: |
91-121-2440218 |
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E-Mail : |
contact@dayalgroup.com /
anuj.gupta@dayalgroup.com / dayal fert@vsnl.com / sundeep.goel@dayal group.com |
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Website: |
http://www.dayalgroup.com |
DIRECTORS
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Name : |
Mr. Abhay Kumar |
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Designation : |
Chairman |
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Adress: |
167 / Thakkar Nagar, |
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Date of Birth/Age : |
25.12.1950 |
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Date of Appointment : |
20.10.1978 |
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Name : |
Mr. Anuj Kumar |
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Adress: |
167 / Thakkar Nagar, |
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Designation : |
Director |
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Date of Birth/Age : |
24.12.1954 |
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Date of Appointment : |
10.05.1982 |
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Name : |
Mr. Vijay Dayal |
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Address: |
293 / Hari Nagar, |
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Designation : |
Director |
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Date of Birth/Age : |
20.02.1945 |
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Date of Appointment : |
24.06.1989 |
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Name : |
Ms. Geeta Kumar |
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Designation : |
Managing Director |
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Address: |
167 / Thakkar Nagar, |
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Date of Birth/Age : |
22.05.1953 |
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Date of Appointment : |
01.06.1994 |
KEY EXECUTIVES
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Name : |
M/S Agrawal Manish and Associates |
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Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Abhay Kumar |
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67057 |
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Mr. Anuj Kumar |
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23465 |
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M./s. Manju Gupta |
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95 |
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Mr. Aman |
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7634 |
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Mr. Anuj Kumar H. U. F. |
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22296 |
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Mr. Anubhav |
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9547 |
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Mr. Ankit |
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9519 |
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M/ s. Geeta Kumar |
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18174 |
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M/s Parul Gupta |
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190 |
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M/s Sarita Gupta |
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12065 |
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M/s B D Gupta and sons |
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82 |
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M /s Abhay Kumar and sons |
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19874 |
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M /s Meena Gupta |
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2 |
Equity Share Break – Up :
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S.No. |
Category |
Percentage |
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1 |
Directors or relative of directors |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of agriculture fertilizers, cattle feeds, pesticides,
insecticides, weedicides, herbicides, organic and inorganic manure for soil and
crops. |
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Products: |
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GENERAL INFORMATION
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Bankers: |
State Bank of |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Alok Agrawal and Company Chartered Accountants. |
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Address : |
293/7, Thapar Nagar, |
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Group Companies: |
Line
of Business: Natural organic manures,
bio-fertilizers, bio – growth promoters.
Line
of business : Animal feeds and supplements.
Line
of Business: Seeds of food crops, oil seed, vegetables. |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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300000 |
Equity Share |
Rs. 100/- each |
Rs. 30.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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190000 |
Equity Shares |
Rs. 100/- each |
Rs.19.000
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 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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19.000 |
19.000 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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78.403 |
59.303 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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97.403 |
78.303 |
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LOAN FUNDS |
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1] Secured Loans |
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31.792 |
12.073 |
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2] Unsecured Loans |
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3.278 |
4.262 |
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TOTAL BORROWING |
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35.070 |
16.335 |
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DEFERRED TAX LIABILITIES |
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2.850 |
2.730 |
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TOTAL |
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135.323 |
97.368 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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27.909 |
24.732 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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4.873 |
2.873 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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131.557 |
100.752 |
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Sundry Debtors |
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17.071 |
7.727 |
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Cash & Bank Balances |
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25.073 |
23.407 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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32.101 |
34.922 |
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Total
Current Assets |
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205.802 |
166.808 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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90.020 |
83.545 |
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Provisions |
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13.241 |
13.500 |
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Total
Current Liabilities |
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103.261 |
97.045 |
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Net Current Assets |
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102.541 |
69.763 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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135.323 |
97.368 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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329.400 |
271.200 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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329.400 |
271.200 |
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Profit/(Loss) Before Tax |
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36.800 |
36.300 |
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Provision for Taxation |
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13.400 |
13.500 |
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Profit/(Loss) After Tax |
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23.400 |
22.800 |
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Total Expenditure |
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292.600 |
234.900 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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7.10 |
8.40 |
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Net Profit Margin (PBT/Sales) |
(%) |
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11.17 |
13.38 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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15.74 |
18.92 |
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Return on Investment (ROI) (PBT/Networth) |
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0.37 |
0.46 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.42 |
1.44 |
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Current Ratio (Current Asset/Current Liability) |
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1.99 |
1.71 |
LOCAL AGENCY FURTHER INFORMATION
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Name of the
company |
DAYAL FERTILIZERS PRIVATE LIMITED |
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Presented By |
Mr. Abhay Kumar,
Director |
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1) Date and description
of instrument creating the change |
Agreement of
Hypothication dated 14.10.1985 modified by agreement of Hypothication dated
19.10.1996 and Agreement of Hypothication of debts and assets dated
19.10.1996 further modified by General Agreement of Hypothication dated
19.01.1998, further modified by General Agreement For grant of
Small Industrial Advances and Hypothication of all movables, book debts and
other assets dated 30.06.1999, further modified by General Agreement for
grant of Small Industrial Advances and Hypothication of all movables, book
debts and other assets dated 14.05.2001. |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 5.800
millions against hypothecation of stocks of raw material , stock in process and
finished goods. Rs. 2.300
millions against of hypothecation of debts and assests. |
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3) Short
particular of the property charged. If the property acquired is subject to
charge, date of the acquired of the property should be given |
All tangible movasble
assets of the company including in particular all stock of raw material such
as Sulphuric acid, HDEP bags and other raw material , semi finished and
finished goods at the godown on premises at Delhi Road, Partapur, Meerut, and
hypothication of debts and assets of the company. |
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4) Gist of the
terms and conditions and extent and operation of the charge. |
Margin on hypothecation of stock 25%.
Margin on book debts, 30% and Margin on Guarantee 25% |
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5) Name and
Address and description of the person entitled to the charge. |
State Bank of |
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6) Date and brief description of instrument
modifying the charge |
Supplemental
General Agreement for the grant of Small Industrial Advances and Hypothication
of goods, Book Debts and other assets
dated 10.05.2002 |
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7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
The extent of
charge increased from Rs. 19.5 millions ( Rs. 9.5+ 3.000 + 6.500 + 0.500 )
millions. |
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Corporation identity number or foreign company registrations number of
the company |
U24121UP1978PTC004680 |
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Name of the company |
DAYAL FERTILIZERS PRIVATE LIMITED |
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Address |
Email Id : anujgupta@dayalgroup.com |
Web Details:
Group Profile:
Dayal Group offers a comprehensive range of inputs from fertilizers, seeds,
bio-products to animal feed and supplements.
In accordance to their mission of bringing a smile to every farmer’s
face, it is their consistent effort to provide the rural community with quality
products from time to time. They have developed a wide range of products in
micronutrients, secondary nutrients, bio-fertilizers, animal feed and
supplement, seeds, natural organic fertilizers, water soluble fertilizers and
natural plant growth promoters. The group is widely associated with quality,
reliability and better service since 1979.
Their staff
strength is drawn primarily from the agricultural colleges and universities
around
To complement their
formal education, they are trained in fields such as agronomy, soil science,
plant pathology, entomology, horticulture, economics and extension education.
In addition, they are also given hands on experience and educated in matters
related to farm visits, farm demonstrations, field day, dealer visits, dealer
meetings, sales and technical conferences
Vision:
To remain the most respected name in rural world by providing quality products,
reliability and better service to the rural consumers, every time.
It
is their mission to bring a smile on every farmer’s face.
Through their quality products and constant support, they strive to
improve the yield and productivity of the farmer, and help him get better price
for his produce and improve the standard of life for himself and his
family.
Quality Policy:
They are committed to provide quality products with
total reliability and excellent services for customer’s delight. In all
their endeavors continuous progress, sincerity, ethics and long-term relationships
are of
paramount importance.
PRODUCTS:
Micronutrients ( Zn, Fe, Cu, B, Mn, Mo):
Every micronutrient has specific roles to play in the plants.
Their presence in optimum concentration is a must for the plant to complete its
life cycle that ends with maturity and harvesting of the economic produce.
Micronutrients are essential plant mineral nutrients taken up and utilized by
crops in very small quantities. Traditionally, they have relied on what was
present naturally in the soil together with amounts added as impurities in
fertilizers and pesticides as the source of micronutrients for crop growth. In
recent years however, deficiencies of micronutrients have been diagnosed more
frequently; and many farmers are beginning to take a closer look at their
general availability. It is extremely important to be able to recognize and
correct micronutrient deficiencies. When micro-nutrients become a limiting
factor water, fertilizer and other high-energy production inputs may be wasted,
since a plant will only grow and develop to the extent that its most limiting
growth factor will allow.
Zinc:
It is required by several enzyme systems, auxins and in protein synthesis; in seed production and rate of maturity. Common symptoms of Zn-deficiency are stunted plant growth, poor tillering, development of light green, yellowish, bleached spots; poor tillering, development of light green, yellowish, bleached spots; chlorotic bands on either side of the midrib in maize, brown rusty spots on leaves in some crops which in acute Zn deficiency as in rice may cover the lower leaves; in fruit trees the leaves may bunch together at the tip in rosette type cluster. Little leaf condition is also a common symptom. To avoid deficiency of zinc use the following micronutrients fertilizers in soil and/or foliar spray; never use the zinc fertilizers with phosphatic fertilizers
Extension Services:
They operate in most parts of
Their network includes around 500 distributors, 10000 dealers throughout the country. Besides, Dayal aggressively pursues the formation of exclusive Dayal Group retail outlets known as ‘Dayal Bandhu Kendra’, where all quality Dayal products are available to the farmers at one point. They are continuously involved in advising the farmers about integrated plant nutrient management, integrated pest management, soil testing and crop cultivation. With the mission of putting a smile on every farmer’s face, their sales representatives constantly work amongst the farmer community to make them aware of the latest crop management techniques and solving their problem.
News:
“Dayal Krishi Bulletin” is published every quarter, which contains news related
to the recent crop cultivation technology, animal disease management, the
season specific crop information, etc. It also includes the mention of
exceptional performers in the Dayal team.
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 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
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Indian Rupees |
|
US Dollar |
1 |
Rs.40.4 |
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|
1 |
Rs.82.32 |
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Euro |
1 |
Rs.55.77 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
44 |
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 |
|