MIRA INFORM REPORT
|
Report
Date : |
24.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
AVITECH
ANIMAL HEALTH PRIVATE LIMITED |
|
|
|
|
Formerly
Known As : |
AVITECH PHARMACEUTICALS PRIVATE LIMITED |
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|
|
|
Registered
Office : |
8th
Floor, Eros Apartment, 56-Nehru
Place, New Delhi – 110 019 |
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|
Country
: |
India |
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|
|
|
Financials
(as on) : |
31.03.2005 |
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|
|
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Date
of Incorporation : |
20.09.1989 |
|
|
|
|
Com.
Reg. No.: |
55-37758 |
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|
|
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CIN
No.: |
U74899DL1989PTC037758 |
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|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELA08607E |
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|
|
|
Legal
Form : |
Private Limited Liability Company |
|
|
|
|
Line
of Business : |
Manufacturers of Poultry Feed
& Premixes, Animal Feed Nutritions Products |
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 60000 |
|
|
|
|
Status
: |
Satisfactory |
|
|
|
|
Payment
Behaviour : |
Regular |
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|
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Litigation
: |
Clear |
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|
Comments
: |
Subject is an old company but started activities only in
2001-02. Directors are experienced and respectable businessmen. Trade
relations are reported as fair. Payments are usually correct and as per
commitments. The company can be considered for normal business dealings
at usual trade terms and conditions. |
LOCATIONS
|
Registered
Office : |
8th
Floor, Eros Apartment, 56-Nehru
Place, New Delhi – 110 019, India |
|
Tel.
No.: |
91-11-26462854 |
|
E-Mail
: |
|
|
Area: |
800 sq. ft. |
|
Location: |
Owned – Commercial |
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|
|
|
Corporate
Office : |
SCO-24, Sector-14, Gurgaon –122001, Haryana, India |
|
Tel.
No.: |
91-124-2315044/2315045/2315046 |
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Fax
No.: |
91-124-2314680 |
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|
|
|
Factory
: |
GP-51, Udyog Vihar, Sector-18, Gurgaon 122001 ,Haryana
,India |
|
Tel.
No.: |
91-124-401 1147 |
|
Mobile
No.: |
91-9312724921 [Mr. Sanjiv
Malhotra] |
|
Fax
No.: |
91-124-401 3620 |
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E-Mail
: |
|
|
Website
: |
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|
Location: |
Industrial |
|
|
|
|
R
& D : |
Village Dhankot, Gurgaon, Haryana, India |
|
Area : |
16,000 Sq. ft. |
|
|
|
|
Warehouse
: |
Located at : SCO-24, Sector-14. Gurgaon –122001, Haryana, India Panchkula (Haryana) Bangalore (Karnataka) |
DIRECTORS
|
Name : |
Mr. Rahul Kapur |
|
Designation
: |
Managing
Director |
|
Address
: |
J-66, DLF
Phase-II, Qutab Enclave, Gurgaon, Haryana – 122 001, India |
|
Date
of Birth/Age : |
06/04/1963 |
|
Qualification: |
B.com
(Hons) , Diploma in Management Studies (UK) |
|
Experience
: |
19 Years |
|
Date
of Appointment : |
10/06/1991 |
|
Previous
Employment : |
Indovax Private Limited, New Delhi |
|
|
|
|
Name : |
Mr.
Shashi Kapur |
|
Designation
: |
Director |
|
Address
: |
Village
Khandia, Delhi Jaipur Road, Gurgaon, Haryana 122 01, India |
|
Date
of Birth/Age : |
01/12/1947 |
|
Date
of Appointment : |
25/04/2000 |
|
|
|
|
Name : |
Ms. Kanan
Kapur |
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Designation
: |
Director |
|
Address
: |
J-6/6, DLF Phase-2, Qutab Enclave, Gurgaon 122001, Haryana |
|
Date
of Birth/Age : |
22/09/1967 |
|
Date
of Appointment : |
01/04/2003 |
KEY EXECUTIVES
|
Name : |
Amit
Sharma & Associates |
|
Designation
: |
Company
Secretary |
|
Address : |
Plot No.47, Laxman Vihar,
Phase-II, Gurgaon 122 001, Haryana |
|
Mobile : |
91-93123 54862 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
Percentage of Holding |
|
Mr. Rahul Kapur |
18,252 |
72.99 |
|
Mr. Parveen Kapur |
6,251 |
25.00 |
|
Mr. Janak Dohini Kapur |
501 |
2.01 |
|
Mr. Vinod Somnath Kapur |
1 |
0.00 |
|
Mr. Shashi Kapur |
1 |
0.00 |
|
Total |
25,006 |
100.00 |
BUSINESS DETAILS
|
Line
of Business : |
Manufacturers of Poultry Feed
& Premixes, Animal Feed Nutritions Products |
|
|
|
|
Product: |
Poultry Products ·
Antioxidants
·
Antibiotic
Growth Promoters ·
Anti
-coccidials ·
Acidifiers
·
Organic
Trace Minerals ·
Emulsifiers
·
Premixes
·
Electrolyte
Mix ·
Toxin
Binders/ Adsorbents ·
Enzymes
·
Ammonia
Binder Dairy Products ·
Buffer
·
Milk
Booster ·
Salt
Licks ·
Premixes
·
Organic
Trace Minerals |
|
|
|
|
Imports
from : |
Germany |
|
|
|
|
Terms
: |
|
|
Selling : |
Credit (30/60 Days) |
|
|
|
|
Purchasing : |
Cash, L/C or Credit (30 Days) |
PRODUCTION
STATUS
|
Particulars |
Unit |
|
|
Actual Production |
|
Poultry Feed/ Premixes |
MT |
|
|
1786.79 |
|
Others |
- |
|
|
- |
GENERAL INFORMATION
|
Customers
: |
Wholesalers and Poultry Farms |
|
|
|
|
No. of
Employees : |
50 |
|
|
|
|
Bankers
: |
Indian
Bank Nehru
Place, New Delhi
– 110 019, India IDBI State Bank of India |
|
|
|
|
Facilities : |
- |
|
|
|
|
Banking Relations : |
Satisfactory |
|
|
|
|
Auditors
: |
D. C.
Jain and Associates |
|
Qualification: |
Charted
Accountant |
|
Address: |
A-14/3,
Jamna Bhawan, Asaf Ali Road, New Delhi-110002, India |
|
Tel.
No.: |
91-11-2327 3420 |
|
Fax
No.: |
91-11-2326 1886 |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
48,000 |
Equity Shares |
Rs. 100/- each |
Rs. 4.800 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
25,006 |
Equity Shares |
Rs. 100/- each |
Rs. 2.501 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 |
|
2.501 |
2.501 |
|
|
2] Share
Application Money |
|
0.000 |
0.000 |
|
|
3]
Reserves & Surplus |
|
12.168 |
5.793 |
|
|
4]
(Accumulated Losses) |
|
0.000 |
0.000 |
|
NETWORTH
|
|
14.669 |
8.294 |
|
|
LOAN
FUNDS |
|
|
|
|
|
1]
Secured Loans |
|
2.842 |
2.331 |
|
|
2]
Unsecured Loans |
|
4.215 |
6.667 |
|
TOTAL
BORROWING
|
|
7.057 |
8.998 |
|
|
LONG TERM
LIABILITIES |
|
0.372 |
0.216 |
|
|
|
|
|
|
|
TOTAL
|
|
22.098 |
17.508 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
|
10.558 |
8.759 |
|
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
|
|
12.216 |
14.957 |
|
|
Sundry Debtors
|
|
52.738 |
29.722 |
|
|
Cash & Bank Balances
|
|
11.009 |
3.389 |
|
|
Other Current Assets
|
|
0.000 |
0.000 |
|
|
Loans & Advances
|
|
2.068 |
3.175 |
Total Current Assets
|
|
78.031 |
51.243 |
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
|
65.500 |
41.178 |
|
|
Provisions
|
|
0.991 |
1.316 |
Total Current Liabilities
|
|
66.491 |
42.494 |
|
Net
Current Assets
|
|
11.540 |
8.749 |
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
|
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
|
22.098 |
17.508 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
Sales Turnover [including other income]
|
|
194.638 |
123.538 |
|
|
|
|
|
Profit/(Loss) Before Tax
|
|
9.972 |
3.747 |
Provision for Taxation
|
|
3.597 |
1.514 |
Profit/(Loss) After Tax
|
|
6.375 |
2.233 |
|
|
|
|
|
Import Value
|
|
13.481 |
17.312 |
|
|
|
|
|
Total Expenditure
|
|
178.983 |
115.735 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
|
PAT /
Total Income |
|
3.28 |
1.81 |
|
Net
Profit Margin |
|
5.21 |
3.12 |
|
Return on
Total Assets |
|
7.20 |
3.72 |
|
Return on
Investment (ROI) |
|
43.46 |
26.92 |
|
Current
Ratio |
|
1.17 |
1.21 |
|
Quick
Ratio |
|
0.99 |
0.85 |
|
Debt
Equity Ratio |
|
0.48 |
1.08 |
|
Current
Liabilities/Networth |
|
4.53 |
5.12 |
|
Fixed
Asset / Networth |
|
0.72 |
1.06 |
|
Average
Collection Days |
|
100.63 |
90.20 |
|
Account
Receivables Turnover |
|
3.63 |
4.05 |
|
Inventory
Turnover |
|
15.66 |
8.04 |
|
Asset
Turnover |
|
18.12 |
13.73 |
LOCAL AGENCY FURTHER INFORMATION
Incorporated on September 20, 1989
the subject is engaged in the business of Manufacturers of Poultry Feed &
Premixes, Animal Feed Nutritious Products
Quality Assessment : ISO 9001 Certified Company
Incorporated on September 20, 1989 the subject is animal nutrition company involved in the
manufacturing and marketing of premixes and speciality feed additives to the
compound feed industry. Special attention is provided to the latest concepts
and needs of species/breed/age/challenge/area. It major presence is in the area
of Poultry and Dairy Nutrition. Avitech aims to play a leading role in Aqua,
Equine and Companion animal nutrition sectors in the near future.
Apart from its own product
development / R&D facility, Avitech also sources technologies and products
for the Indian livestock industry.
Subject imports Animal Nutrition
Products and they are authorised Distributors of the following companies
Zinpro Corporation
10400, Viking Drive, Suite 240, Eden
Prairie, Minnesota 55344 USA
Phone: 1-800-445-6145, 9529834000
Fax: 1-952-944-2749
Products : Organic Trace Mineral Supplements for beef and
dairy cattle, swine, poultry, equine and companion animals
KNZ Salt Licks
PO Box 1686, 3800 BR Amersfoort, The
Netherlands
Phone: 31- 33 467 6846
Fax: 31-33 467 6132
Web: http://www.knz.info
Products : Salt Licks for animalsb
Trade Reference
INVE NUTRI-AD International
Hoogveld 93
9200 DENDERMONDE, Belgium
Phone: 32-52 40 95 95
Fax: 32-52 40 95 87
Web: http://www.inve.com
Products : Antioxidants, Acidifiers, Toxin Binders and
herbal products
Agro Industrials El
Alamo, S.A.
Products :Yucca Schidigera Extract Products
Beijing Style Science & Technology Development Company Limited
701 Baixin Sci & Tech Building,
Agricultural Sci Institute, 12 Zhongguancum South Street, Haidan District
Beijing 100081, China
Phone: 86-10-62199256
Fax: 86-10-68919944
Products : Phytase
The subject company provides the
following Services
·
Nutrition
Support Programmes
- Laboratory
Services
FIXED ASSESTS:
- Plant & Machinery
- Computers
- Furniture & Fixtures
- Electrical Fitting
- Office Equipments
- Vehicles
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.44.24 |
|
UK Pound |
1 |
Rs.86.95 |
|
Euro |
1 |
Rs.57.33 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP
CAPITAL |
1~10 |
5 |
|
OPERATING
SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT
LINES |
1~10 |
5 |
|
--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 |
|
TOTAL |
|
45 |
This
score serves as a reference to assess SC’s credit risk and to set the amount of
credit to be extended. It is calculated from a composite of weighted scores
obtained from each of the major sections of this report. The assessed factors
and their relative weights (as indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit
history (10%) Market
trend (10%) Operational
size (10%)
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound
financial base with the strongest capability for timely payment of interest
and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working
capital. No caution needed for credit transaction. It has above average
(strong) capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational base
are regarded healthy. General unfavourable factors will not cause fatal
effect. Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered
normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable
factors carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent.
Repayment of interest and principal sums in default or expected to be in
default upon maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists.
Caution needed to be exercised |
Credit not recommended |