MIRA
INFORM REPORT
|
Report Date : |
04.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
GREENCROP
INTERNATIONAL PRIVATE LIMITED |
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|
|
|
Registered Office : |
161/A,
Sham Shakuntal Heights, 3-A Modi Baug, Ganeshkhid Road, Pune – 411 016,
Maharashtra, India. |
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|
|
Country : |
India |
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|
|
Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
06.12.2001 |
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Com. Reg. No.: |
11-017841 |
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CIN No.: [Company
Identification No.] |
U99999MH2001PTC134133 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEG04470E |
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|
Legal Form : |
Private
Limited Liability Company |
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|
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Line of Business : |
Manufacturer
and Dealer of Pesticides, Insecticides, Fertilizers & Seeds. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable
to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD
52500 |
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|
|
|
Status : |
Satisfactory
|
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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. Financial Position is satisfactory. Payments are usually correct and as
per commitments. The
company can be considered good for normal business dealings at usual trade
terms and conditions. |
LOCATIONS
|
Registered Office : |
161/A,
Sham Shakuntal Heights, 3-A Modi Baug, Ganeshkhid Road, Pune – 411 016,
Maharashtra, India. |
|
Tel. No.: |
91-20-25513636 |
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Fax No.: |
91-20-25537598 |
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Mobile No.: |
91-9822502735 |
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E-Mail : |
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Area : |
Rented |
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Location : |
1000
Sq.ft. |
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|
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|
Factory : |
1848,
Funsung Road, Survey No. 164, Taluka Mauel, District Pune-412308,
Maharashtra, India |
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Tel. No.: |
91-20-26980206 |
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Area : |
1000
Sq.ft. |
|
Location : |
Rented |
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|
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Corporate
Office : |
102, Dinkar Smruti, 3, Mount Ricaramel Road, Bandra (West), Mumbai –
400 050, Maharashtra, India |
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|
|
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Branches: |
C/o. Vishal Enterprises,
Shed No. 39, Nathware Housing, Ferguson Road, Pune – 412 308, Maharashtra,
India |
DIRECTORS
|
Name : |
Mr. Sharad Waman Sawant |
|
Designation : |
Managing Director |
|
Address : |
Great Eastern
Retreat, Flat No. 404, Lakakki Road, Model Colony, Shivaji Nagar, Pune – 411
016, Maharashtra, India. |
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Date of Birth/Age : |
31.07.1942 |
|
Qualification : |
B. Sc.
(Agri.) |
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Date of Appointment : |
12.12.2001 |
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|
|
|
Name : |
Mr. Balkrishna
Dwarkadasji Bhutada |
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Designation : |
Director
|
|
Address : |
Bhusar Lane, Latur – 413 513, Maharashtra,
India |
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Date of Birth/Age : |
01.11.1958 |
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Date of Appointment : |
06.12.2001 |
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|
|
|
Name : |
Mr. Dyaneshwar Baliram Karegaonkar |
|
Designation : |
Director |
|
Address : |
Maharani Laxmibai Road, Near Magear
Hospital, Parbhani – 431 401, Maharashtra, India. |
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Date of Birth/Age : |
25.08.1951 |
|
Qualification : |
B.A. |
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Date of Appointment : |
06.12.2001 |
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|
Name : |
Mr. Rajendra V. Rathi |
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Designation : |
Director |
|
Address : |
Main Road, Highanghat, District Vardha,
Maharashtra, India. |
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Date of Birth/Age : |
12.02.1959 |
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Qualification : |
B.
Com. |
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Date of Appointment : |
06.12.2001 |
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|
|
|
Name : |
Mr. Popatrao
S. Deshmukh |
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Designation : |
Director |
|
Address : |
B-3/3
Ragdari, D.P. Road, Aundh, Pune – 411 007, Maharashtra, India. |
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Date of Birth/Age : |
15.03.1952 |
|
Qualification : |
B.Sc.
(Agri.), DBM |
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Date of Appointment : |
12.12.2001 |
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|
|
|
Name
: |
Mr.
Reddi Palli Venugopal |
|
Designation
: |
Director |
|
Address
: |
302
Bhandari Residency, Uma Nagar, Begum Peth, Hyderabad – 500 016, Andhra
Pradesh, India. |
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Date
of Birth/Age : |
01.07.1958 |
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Qualification
: |
B.E. |
|
Date
of Appointment : |
28.05.2002 |
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|
|
|
Name
: |
Mr.
Pawan B. Kale |
|
Designation
: |
Additional
Director |
|
Address
: |
Suyog
Colony, Camp, Amravati – 444 602, maharashtra, India. |
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Date
of Birth/Age : |
01.07.1958 |
|
Date
of Appointment : |
09.09.2002 |
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|
|
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Name
: |
Mr.
Dorai Raj Kuppurangam |
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Designation
: |
Additional
Director |
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Address
: |
15-B/2,
Krishnanagar Apartment, Vimanputra, Bangalore – 560 017, Karnataka, India. |
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Date
of Birth/Age : |
10.09.1946 |
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Date
of Appointment : |
09.09.2002 |
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|
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Name
: |
Mr.
Rajendra Malpani |
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Designation
: |
Director
|
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Address
: |
Opposite
D.S.P. Office, Vazirabad, Nanded – 431 601, India. |
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Date
of Appointment : |
10.02.2003 |
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|
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Name
: |
Mr.
Anil Deshpande |
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Designation
: |
Additional
Director |
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Address
: |
C-34,
Abhishilpa Apartment, Shilpa Society, Near Mit College, Kothrud, Pune – 411
007, Maharashtra, India. |
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Date
of Appointment : |
25.08.2003 |
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|
|
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Name
: |
Mr.
Pramod Chaudhari |
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Designation
: |
Resigned
as Director |
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Address
: |
5,
Nirmal Apartment, Ashok Path, Erandawana, Pune – 411 004, Maharashtra, India.
|
|
Date
of Appointment : |
31.08.2003 |
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|
|
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Name
: |
Mr.
Deepak Govind Mogal |
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Designation
: |
Alternate
Director |
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Address
: |
Samb Parvati,
33/1, Sandesh Society, Salisbury Park, Pune – 411 001, Maharashtra, India. |
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Date
of Appointment : |
13.06.2006 |
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Name
: |
Mr.
Avinash Padhye |
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Designation
: |
Alternate
Director |
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Address
: |
Vrindavan
Garden, F-220, Lokmanya Colony, Kothrud, Pune – 411 038, Maharashtra, India. |
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Date
of Appointment : |
31.08.2003 |
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|
|
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Name
: |
Mr.
Steven Pither |
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Designation
: |
Additional
Director |
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Address
: |
10-12,
Caxton Way, Watford Business Park, Watford, Hertfordshire, England WD188JY. |
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Date
of Appointment : |
13.06.2003 |
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|
|
|
Name
: |
Mr.
Jesus Pagan |
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Designation
: |
Additional
Director |
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Address
: |
Avda. Miguel
De Cervantes, 45, 30 Planta, Torre Expomurcia 30009 Murcia, Spain. |
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Date
of Appointment : |
13.06.2003 |
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|
|
|
Name
: |
Mr. P.
Kale |
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Designation
: |
Director |
|
Address
: |
Suyog
Colony, Camp, Amaravati-444601, Maharashtra, India |
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Age
: |
32
years |
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Qualification
: |
M.Com. |
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|
|
|
Name
: |
Mr. R.
Venugopal |
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Designation
: |
Managing
Director |
KEY EXECUTIVES
|
Name
: |
Shridhar
& Company |
|
Designation
: |
Company
Secretary |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
|
Mr.
Sharad Wamanrao Sawant |
100000 |
|
Mr. P.
S. Deshmukh |
60000 |
|
Mr. R.
Venugopal |
50000 |
|
Mr. D.
Koregaonkar |
53500 |
|
Mr.
Raju Rathi |
40000 |
|
Mr.
Pawan Kale |
110000 |
|
Mr.
Balkrishna Bhutada |
11000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
and Dealer of Pesticides, Insecticides, Fertilizers & Seeds. |
|
|
|
|
Brand Names : |
Greencrop |
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|
|
|
Agencies held : |
Sumitoma
Chemical Private Limited 145/14th
Floor, Maker Chambers VI, 220, Nariman Point, Mumbai- 400021 Tragro
Agrochem Private Limited, Mumbai Vantech
Chemicals, 103,
Vijaya Enclave, Plot No. 32, Srinagar Colony, Hyderabad- 500073, India SQM
Europe N.V., Sint- Pietersuliet- 7, Bus 82000, Antwepen, Belgium Fax
No.: 3232312782 Isagro
Agro Chemicals 101,
Solitaire Corporation Park, 151, M. Vasanji Road, Chakala, Andheri (East),
Mumbai, Maharashtra, India |
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|
|
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Imports from : |
Europe |
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Terms : |
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Selling : |
Credit
(60 Days) |
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|
|
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Purchasing : |
Credit
(90 Days) |
GENERAL
INFORMATION
|
No. of Employees : |
56 |
|
|
|
|
Bankers : |
Ř
Bank
of Maharashtra, “Lokmangal”, 1501, Shivajinagar, Pune – 411 005, Maharashtra,
India. Ř
HDFC
Bank Limited Ř
Bank
of Maharashtra, Agri Hited, Singhaghad Road, Pune, Maharashtra, India |
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|
|
|
Facilities : |
-- |
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Banking Relations : |
Satisfactory
|
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Auditors : |
Mr.
Prakash Shah Chartered
Accountant |
|
Address: |
404,
Bhagyalakshmi, Kennedy Bridge, Opera House, Mumbai – 400 004, Maharashtra,
India. |
|
Tel. No.: |
91-22-23873358/
23873359 |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity
Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
988600 |
Equity
Shares |
Rs. 10/- each |
Rs. 9.886 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
8.926 |
5.341 |
|
|
2] Share Application Money |
|
0.670 |
1.688 |
|
|
3] Reserves & Surplus |
|
3.834 |
2.149 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
13.430 |
9.178 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
26.156 |
9.340 |
|
|
2] Unsecured Loans |
|
1.630 |
0.830 |
|
|
TOTAL BORROWING |
|
27.786 |
10.170 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
41.216 |
19.348 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
2.131 |
0.877 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
38.018 |
28.977 |
|
|
Sundry Debtors |
|
40.445 |
33.261 |
|
|
Cash & Bank Balances |
|
9.694 |
6.381 |
|
|
Other Current Assets |
|
1.050 |
0.342 |
|
|
Loans & Advances |
|
5.565 |
1.622 |
|
Total Current Assets |
|
94.772 |
70.583 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
55.787 |
52.227 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total Current Liabilities |
|
55.787 |
52.227 |
|
|
Net Current Assets |
|
38.985 |
18.356 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.100 |
0.115 |
|
|
|
|
|
|
|
|
TOTAL |
|
41.216 |
19.348 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other
income] |
|
238.778 |
177.862 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
|
4.063 |
3.716 |
|
Provision
for Taxation |
|
1.700 |
1.350 |
|
Profit/(Loss)
After Tax |
|
2.363 |
2.366 |
|
|
|
|
|
|
Export
Value |
|
4.697 |
0.000 |
|
|
|
|
|
|
Import
Value |
|
2.336 |
0.583 |
|
|
|
|
|
|
Total Expenditure |
|
231.781 |
173.230 |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
|
0.99 |
1.33 |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
|
1.71 |
2.09 |
|
|
|
|
|
|
|
Return on
Total Assets (PBT/Total
Assets} |
(%) |
|
4.19 |
5.20 |
|
|
|
|
|
|
|
Return
on Investment (ROI) (PBT/Networth) |
|
|
0.30 |
0.40 |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
|
6.22 |
6.80 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
|
1.70 |
1.35 |
LOCAL AGENCY
FURTHER INFORMATION
Summarised
Figures as on 30.09.2006 (6 months)
|
Particulars |
Rs. (in millions) |
|
Paid-up
Capital |
9.886 |
|
Reserves
and Surplus |
6.358 |
|
Secured
Loans |
26.530 |
|
Unsecured
Loans |
0.900 |
|
Fixed
Assets |
4.166 |
|
Sundry
Debtors |
10.677 |
|
Cash
and Bank Balances |
9.606 |
|
Particulars |
Rs. (in millions) |
|
Sales
Turnover |
114.202 |
|
Profit
Before Tax |
3.662 |
|
Provision
for Tax |
1.450 |
|
Profit
After Tax |
2.212 |
During
the year company has expanded the business in the manufactured goods of the
company. The total turnover increased to Rs. 229.85 Millions (Previous year Rs.
172. 86 Millions) thereby registering growth of 33% over previous year.
During
the year company focused on the owned branded formulations, which recorded an
increase of Rs. 55.000 Millions over previous year. Company also exported Pomo
& Grapes to Germany & U.K., while the business has grown satisfactory
the increasing expenses has been a area of concern.
The
focus during next financial year will be:
Ř
To
enhance sales of own branded formulations.
Ř
Explore
avenues for reducing cost of production.
Ř
To contain
expenses.
BUSINESS
Subject is engaged in to carry on the business as producers and dealer of all kinds of agricultural inputs like seeds, fertilizers, pesticides, insecticides and other inputs such as micronutrients, fine chemicals, all varieties and kinds of vegetable seeds, hybrid seeds, plants, crops, fruits, flowers, trees, herbs, shrubs, sprouts, bulbs, roots, creepers, garden plants and to process, treat and refine vegetable seeds, preserved, dehydrated, canned or converted fruits and vegetables, processed foods, sugar products, seeds of all kinds and varieties and to produce, breed and grow vegetable and other seeds, grains and farm products of all kinds and varieties and to grow, cultivate, plant, make, marketable and otherwise and kinds of vegetables and vegetable plants and seeds as also agricultural, horticultural, sericulture, botanical, garden and farm products, grains seeds, crops including commercial crops of all kinds.
Fixed Assets:
Furniture & Fixtures, Vehicles, Computers, Laboratory Equipments, Fax, Printers, and Air Conditioner etc.
Dealers/ Distributors network is supported by branches at Hyderabad,
Bangalore, Coimbatore, Raipur, Indore, Akola and Ahmedabad besides Pune, the
registered office cum sales office for Western Maharashtra. The Company is
planning to shortly open branches at Delhi, Kolkata for conducting business in
East respectively.
Subject was incorporated in December 2001 with the objective of conducting Sales and Distribution of branded Agro inputs like Fertilizers, Seeds and Pesticides etc. During the initial period of 3 months the company applied for and obtained various licenses required for commencing business and also established offices and dealers network.
The company has alliances for marketing of products manufactured by reputed companies like :
Ř Sumitomo India Private Limited, Japanese Company for Pesticides
Ř Isagro Asia Limited, an Italian Company for Pesticides
The Company then introduced its own pesticides brands in the market in the month of August 2002, by entering into contact with Vantech Chemicals Limited, a company based in Hyderabad, which specializes in Job Work activity. Raw Materials and Packing Materials are provided to Vantech Chemicals, which in turn process the same into finished products.
Day to day affairs of the Company are managed by the Chairman and Executive Director. Mr. S. W. Sawant, Chairman has an extensive experience in the field of Agro inputs. He has served Rallis, a Tata group company for more then 3 decades. His last assignment with Rallis was Director, Agrochemicals Division. He, as head of the division, was incharge of the operations and profitability. The division then had turnover of Rs.12000 millions. He was on the Board of Directors of many companies of Rallis Group. He has been member of many other related associations and bodies working in the Agro input industry.
Mr. R. Venugopal, Managing Director, has been Vice President – Pesticides and Vice President – Commercial Rallis India Limited. In these capacities, he has been in charge of sales and marketing of pesticides operations on all India basis. As Vice- President commercial, he has been Chief Executive Officer of Ralchem Limited, a subsidiary of Rallis. He was also Director on the Boards of other subsidiaries and associate companies like Siris India Limited, Wastol Organics Limited, etc.
All the Directors are also well qualified and having at least 25/30 years of experience in the field of Agro inputs.
Distribution Network:
To sell and distribute its products the company has already appointed dealers/ distributors in all the major states like Gujarat, Maharashtra, Andhra Pradesh, Madhya Pradesh, Tamilnadu, Chattisgarh and Kaarnataka. Dealer/ Distribution network as on date is as follows:
Ř
Maharashtra
– 230 Direct Dealers
Ř
Chattisgarh
- 30 Direct Dealers
Ř
Madhya
Pradesh - 30 Direct Dealers
Ř
Andhra
Pradesh - 180 Direct Dealers
Ř
Karnataka
- 5 Distributors + 40 Direct Dealers
Ř
Gujarat
- 20 Distributors + 10 Direct Dealers
Ř
Tamil
Nadu - 2 Distributors + 30 Direct Dealers
Year 2002-03-04
Company is growing very fast. Last two years turnover is as follows :
Year ended 31.03.2003 – Rs. 60 millions
31.03.2004 – Rs. 177 millions
31.03.2005 – Rs. 240 millions
31.03.2006 – Rs. 210 millions
The company’s major activity is marketing and manufacturers of the Agro products. The composition of own distribution products is 70:30
New Activity:
Fertilisers :
Company is importing speciality, Water-soluble fertilisers from SQM Europe N.V. Belgium. During current financial year company has already imported 10 containers. Company has introduced various grades and micronutrient, which has tremendous response from market. Company is expected to sale Rs.30 millions fertilizer during current financial year 2005-2006
Main Dealers:
Junnare Brothers Agro Private Limited
1314/15, Nasik Krushi Uttpanna Bazar Samitte Complex, Market Yard, Dindori Road, Panchavait, Nashik-422003
Vasundhara Fertilizers & Seeds Private Limited
MG Road, A/P Deolaligaon, Nashik Road-422101, Maharashtra, India
Krishi Padvidhar Sangli Limited
A/P Islampur, District Sangli, Maharshtra, India
Vasant Krushi Udyog Samooh
Tanaji Chow, Sangli-416416, Maharashtra, India
|
Name
of the company |
GREENCROP
INTERNATIONAL PRIVATE LIMITED |
|
Presented By |
Sharad
W Sawant |
|
1)
Date and description of instrument creating the change |
Compositre
Deed of hypothecation dated 23.01.2004 |
|
2)
Amount secured by the charge/amount owing on the securities of charge |
Rs.
10.000 Millions |
|
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 |
First
and Exclusive charge by way of hypothecation deed of present & future movable
Plants & Machineries goods, Inventories of all types, Book Debts, Bills
Receivable wherever located. |
|
4)
Gist of the terms and conditions and extent and operation of the charge. |
Interest
@ 13% or as may be revised from time to time. Account
to be reviewed every year. In
case of default of payment of monies as per agreed terms. Bank can proceed
against hypothecated goods for recovery. |
|
5)
Name and Address and description of the person entitled to the charge. |
Bank
of Maharashtra, “LOKMANGAL”, 1501, Shivajinagar, Pune – 411 005, Maharashtra,
India. |
|
6)
Date and brief description of
instrument modifying the charge |
Not
Applicable |
|
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. |
Not
Applicable |
|
Name
of the company |
GREENCROP
INTERNATIONAL PRIVATE LIMITED |
|
Presented By |
Sharad
W Sawant |
|
1) Date
and description of instrument creating the change |
Hypothecation
of Plant & Machinery and Goods dated 18.08.2004 |
|
2)
Amount secured by the charge/amount owing on the securities of charge |
Rs.
1.125 Millions |
|
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 |
First
and Exclusive charge by way of hypothecation
and movable Plants & Machineries goods, wherever located. |
|
4)
Gist of the terms and conditions and extent and operation of the charge. |
Interest
@ 13% or as may be revised from time to time. Repayment
Rs. 0.031 Millions + Interest per month w.e.f. October 2004 with in 36
months. In
case of default of payment of monies as per agreed terms. Bank can proceed
against hypothecated goods for recovery. |
|
5)
Name and Address and description of the person entitled to the charge. |
Bank
of Maharashtra, “LOKMANGAL”, 1501, Shivajinagar, Pune – 411 005, Maharashtra,
India. |
|
6)
Date and brief description of
instrument modifying the charge |
Not
Applicable |
|
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. |
Not
Applicable |
|
Name
of the company |
GREENCROP
INTERNATIONAL PRIVATE LIMITED |
|
Presented By |
Sharad
W Sawant |
|
1)
Date and description of instrument creating the change |
Composite
Deed of hypothecation dated 23.01.2004 |
|
2)
Amount secured by the charge/amount owing on the securities of charge |
Rs.
10.000 Millions |
|
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 |
First
and Exclusive charge by way of hypothecation deed of present & future
movable Plants & Machineries goods, Inventories of all types, Book Debts,
Bills Receivable wherever located. |
|
4)
Gist of the terms and conditions and extent and operation of the charge. |
Interest
@ 13% or as may be revised from time to time. Account
to be reviewed every year. In
case of default of payment of monies as per agreed terms. Bank can proceed
against hypothecated goods for recovery. |
|
5)
Name and Address and description of the person entitled to the charge. |
Bank
of Maharashtra, “LOKMANGAL”, 1501, Shivajinagar, Pune – 411 005, Maharashtra,
India. |
|
6)
Date and brief description of instrument
modifying the charge |
Modified
and additional change of Rs. 10.000 Millions change original noted with ROC
on 28.04.2004 for Rs. 10.000 Millions. Change
modified as 15.10.2004 by way of composite deed i.e. Deed of Hypothecation. |
|
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. |
Cash Credit Limit of Rs. 10.000 enhanced to
Rs. 20.000 Millions as per the request of the company. Additional
security for Rs. 20.000 Millions as per Composite Deed of Hypothecation dated
15.10.2004. |
|
Name
of the company |
GREENCROP
INTERNATIONAL PRIVATE LIMITED |
|
Presented By |
GREENCROP
INTERNATIONAL PRIVATE LIMITED |
|
1)
Date and description of instrument creating the change |
Composite
Deed of hypothecation dated 30.04.2006 |
|
2)
Amount secured by the charge/amount owing on the securities of charge |
Rs.
10.000 Millions |
|
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 |
Hypothecation
of Plant & Amchinery, Stock Iin trade, Book Debts. As per
the records maintained in the books at the registered office of the company,
at Ganeshkhind Road, Pune. |
|
5)
Name and Address and description of the person entitled to the charge. |
Bank
of Maharashtra, “LOKMANGAL”, 1501, Shivajinagar, Pune – 411 005, Maharashtra,
India. |
|
6)
Date and brief description of
instrument modifying the charge |
Composite
deed of Hypothecation dated 06.05.2006 |
|
7)
Particulars of present Modification |
Enhancement
of Cash Credit limit from Rs. 20.000 Millions to Rs. 25.000 Millions. Security: Plant, Machinery, Book Debts,
Raw material, Finished goods and movables. Interest @ 10.00% p.a. |
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. 44.30 |
|
UK
Pound |
1 |
Rs. 85.83 |
|
Euro |
1 |
Rs. 57.92 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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 |
|