MIRA
INFORM REPORT
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Report Date : |
01.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
ARCH
BIOTECH PRIVATE LIMITED |
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Registered Office : |
Block
No 10, Shridevi Ratan Complex, Subhash Road, Nagpur – 440018, India |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
29.09.1997 |
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Com. Reg. No.: |
11-110968 |
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CIN No.: [Company
Identification No.] |
U24200MH1997PTC110968 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
NGPA00753E |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Subject
is engaged in the business of trading and manufacture micronutrients, bio
fertilisers, pesticides, fungicides, weedicides, bio-insecticides, other
allied agro chemicals and by products thereof. |
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 : |
USD10000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clean |
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Comments : |
Subject
is a well-established and reputed company having satisfactory track.
Directors are reported as experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are usually
correct and as per commitments. The
company can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office : |
Block
No 10, Shridevi Ratan Complex, Subhash Road, Nagpur – 440018, India |
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Tel. No.: |
91-712-2761495 |
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Fax No.: |
91-712-2773812 |
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E-Mail : |
DIRECTORS
|
Name : |
Mr
Sameer Pradeeprao Kashikar |
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Designation : |
Director |
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Address : |
110,
Surendra Nagar, W H C Road, Nagpur – 440015. Maharashtra, India |
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Date of Birth/Age : |
03.03.1975 |
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Date of Appointment : |
29.09.1997 |
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Name : |
Mr
Abhijit Pradeeprao Kashikar |
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Designation : |
Director |
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Address : |
110,
Surendra Nagar, W H C Road, Nagpur – 440015. Maharashtra, India |
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Date of Birth/Age : |
26.04.1977 |
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Date of Appointment : |
29.09.1997 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
Percentage of Holding |
|
Mr
Sameer Pradeeprao Kashikar |
28000 |
29.47 |
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Mr
Abhijit Pradeeprao Kashikar |
12000 |
12.63 |
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Mr
Pradeeprao Govindrao Kashikar |
28000 |
29.47 |
|
Mr Archana
Pradeeprao Kashikar |
27000 |
28.42 |
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Total |
95000 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject
is engaged in the business of trading and manufacture micronutrients, bio
fertilisers, pesticides, fungicides, weedicides, bio-insecticides, other
allied agro chemicals and by products thereof. |
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Products : |
Bio /
Inorganic Micronutrient Fertilizers |
PRODUCTION
STATUS
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Particulars |
Unit |
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Installed Capacity |
Actual Production |
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Bio Fertilizer / Micro Nutrient |
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31.03.2005 |
Kgs Liter |
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80000 30000 |
NA |
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31.03.2004 |
Kgs Liter |
|
80000 30000 |
NA |
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Bio / Inorganic Fertilizer |
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31.03.2005 |
Kgs Liter |
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NA |
150807 11932 |
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31.03.2004 |
Kgs Liter |
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NA |
113081.5 3817 |
GENERAL
INFORMATION
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Bankers : |
Bank
of India Tata
Finance Limited |
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Banking Relations : |
Satisfactory |
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Auditors : |
Paliwal
Modani and Company Chartered
Accountants |
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Tel. No.: |
Rantnaparkhi
Building, Near Sanjiwani Kendra, Itwari, Nagpur – 440002, Maharashtra,
India |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
100,000 |
Equity
Shares |
Rs 10/- each |
Rs 1.000 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
95,000 |
Equity
Shares |
Rs 10/- each |
Rs 0.950 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.950 |
0.950 |
0.950 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1.722 |
0.576 |
0.288 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2.672 |
1.526 |
1.238 |
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LOAN FUNDS |
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1] Secured Loans |
2.685 |
2.015 |
2.591 |
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2] Unsecured Loans |
0.687 |
0.482 |
0.161 |
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TOTAL BORROWING |
3.372 |
2.497 |
2.752 |
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DEFERRED TAX LIABILITIES |
0.218 |
0.273 |
0.147 |
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TOTAL |
6.262 |
4.296 |
4.137 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.296 |
2.661 |
2.132 |
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Capital work-in-progress |
0.000 |
0.307 |
0.039 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
4.522
|
5.095 |
3.730 |
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Sundry Debtors |
4.838
|
3.796 |
3.174 |
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Cash & Bank Balances |
1.083
|
0.766 |
0.508 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
1.025
|
0.825 |
1.108 |
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Total Current Assets |
11.468
|
10.482 |
8.520 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
8.503
|
9.209 |
6.664 |
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Provisions |
0.000
|
0.000 |
0.000 |
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Total Current Liabilities |
8.503
|
9.209 |
6.664 |
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Net Current Assets |
2.965
|
1.273 |
1.856 |
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MISCELLANEOUS EXPENSES |
0.001 |
0.055 |
0.110 |
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TOTAL |
6.262 |
4.296 |
4.137 |
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
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Sales Turnover [including other income] |
|
23.636 |
13.008 |
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Profit/(Loss)
Before Tax |
|
0.488 |
0.179 |
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Provision
for Taxation |
|
0.201 |
0.068 |
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Profit/(Loss)
After Tax |
|
0.287 |
0.111 |
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Import
Value |
|
2.919 |
0.569 |
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Total
Expenditure |
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23.148 |
12.829 |
KEY
RATIOS
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PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
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NA
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1.21 |
0.85 |
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Net
Profit Margin(PBT/Sales) |
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NA
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2.06 |
1.37 |
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Return
on Total Assets(PBT/Total Assets} |
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NA
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3.71 |
1.68 |
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Return
on Investment (ROI)(PBT/Networth) |
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NA |
0.31 |
0.14 |
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Debt
Equity Ratio(Total Liability/Networth) |
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4.44
|
7.67 |
7.60 |
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Current
Ratio(Current Asset/Current Liability) |
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1.34
|
1.13 |
1.27 |
LOCAL AGENCY
FURTHER INFORMATION
Business
Subject
is engaged in the business of processing, research and development, trading,
growing, and marketing all kinds of seeds, vegetable seeds, hybrid seeds,
tissue culture, plantation, horticulture, floriculture and to encourage in the
business of trading of agro implements, vehicles and allied products thereof.
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SECURED LOANS |
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TERM LOAN |
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From
Bank of India (Secured by equitable / legal mortgage of factory land and
building and guaranteed by Directors and two share holders) |
0.047 |
0.235 |
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Tata
Finance Limited (MH31-3925, Secured by Motor Vehicle) |
0.105 |
0.210 |
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Tata
Finance Limited (MH31-9338, Secured by Motor Vehicle) |
0.204 |
0.289 |
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Tata
Finance Limited (MH31-5594, Secured by Motor Vehicle) |
0.266 |
0.000 |
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Working Capital Loan |
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From
Bank of India (Against hypothecation of stocks, stores ) |
1.391 |
1.854 |
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|
2.015 |
2.590 |
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UNSECURED LOANS/ DEPOSITS |
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Deposits
from Dealer |
0.481 |
0.161 |
Fixed Asset
- Leasehold Land
- Factory Building
- Plant and Machinery
- Lab Equipment
- Electrical Installation
- Computer
- Furniture and Fixture
- Vehicle (Car)
- Office Equipment
- Motorcycle
- Work-In-Progress
Factory Building
Furniture and Fixture
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.44.17 |
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UK
Pound |
1 |
Rs.86.66 |
|
Euro |
1 |
Rs.57.25 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
|
43 |
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 |
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