MIRA
INFORM REPORT
|
Report Date : |
05.07.2007 |
IDENTIFICATION DETAILS
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Name : |
YOG INTERNATIONAL PRIVATE LIMITED |
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Registered Office : |
123/1-F, Anapurna Bhawan, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
17.04.1997 |
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Com. Reg. No.: |
20-21784 |
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CIN No.: [Company
Identification No.] |
U65910UP1997PTC021784 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
KNPY00215F / KNPY01013F |
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PAN No.: [Permanent
Account No.] |
AAACY0486D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Exporter, Importer and Supplier
of Solvent and Organic
/ Inorganic products. |
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 80000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having satisfactory track.
Directors are reported as experience 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
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Registered Office / Head Office : |
123/1-F, Anapurna Bhawan, |
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Tel. No.: |
91-512-2236667, 22400046, 2237210, 2241266 |
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Mobile No.: |
91-9810115382 |
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Fax No.: |
91-512-2240205 |
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E-Mail : |
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Website : |
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Corporate Office : |
38 Jay Laxmi Prompters Society, |
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Tel. No.: |
91-22-6312097 / 98 |
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Fax No.: |
91-22-6312097 |
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Branches : |
Located at :
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Subsidiary Office : |
16-04, |
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Tel. No.: |
65-9387-9861 |
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Fax No.: |
65-6260-2706 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Amit Agarwal |
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Designation : |
Director |
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Address : |
123/1-F, Anapurna Bhawan, |
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Date of Appointment : |
12.11.2001 |
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Name : |
Mr. Amar Nath Gupta |
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Designation : |
Director |
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Address : |
123/1-F, Anapurna Bhawan, |
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Date of Appointment : |
17.04.1997 |
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Name : |
Mr. Amit Bansal |
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Designation : |
Director |
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Address : |
123/1-F, Anapurna Bhawan, |
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Date of Appointment : |
30.04.1997 |
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Name : |
Mr. Nishant Vaish |
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Designation : |
Director |
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Address : |
76-B, Gandhi Gram, |
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Date of Appointment : |
12.11.2001 |
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Name : |
Mr. Vijay Kumar Singla |
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Designation : |
Director |
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Address : |
113/104 A, Swaroop Nagar, |
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Date of Appointment : |
31.12.2003 |
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Name : |
Mr. Mayur Saraf |
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Designation : |
Director |
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Address : |
A-3, |
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Date of Birth/Age : |
08.03.1981 |
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Date of Appointment : |
07.04.2005 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Amar Nath Gupta |
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50010 |
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Nidhi Agarwal |
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9950 |
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Amit Agarwal |
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20000 |
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Niranjan Lal Agarwal |
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100000 |
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Ratan Devi Agarwal |
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100000 |
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Laxmi Narain Agarwal |
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5000 |
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Nishant Kumar Vaish |
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32000 |
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Birma Devi |
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5000 |
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Kishan Kureel |
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100000 |
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Yug Software Private Limited |
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100000 |
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Surbhi Agarwal |
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40010 |
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Manju Devi Gaursaria |
|
10 |
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Anil Kumar Gaursaria |
|
10 |
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Deepak Vaish |
|
10 |
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Hemant Agarwal |
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10 |
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Equity Share
Breakup |
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Category |
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Percentage of
Holding |
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Directors of relatives of directors |
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23.00 |
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Other top fifty shareholders |
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77.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Exporter, Importer and Supplier
of Solvent and Organic
/ Inorganic products. |
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Products : |
·
Polyene ·
Methanol ·
Phenol ·
Vinyl Acetate
Monomer ·
Ethyl Acetate ·
Butyl Acetate ·
Butanol ·
Butyl Acrylate |
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Exports : |
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Countries : |
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Imports : |
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Countries : |
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GENERAL INFORMATION
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Bankers : |
Bank of |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Hiren and Jain Chartered Accountants |
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Address : |
26/70, |
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Associates/Subsidiaries : |
Yug Software Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
652,020 |
Equity Shares |
Rs. 10/- each |
Rs. 6.520
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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6.520 |
6.520 |
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2] Share Application Money |
|
3.850 |
2.800 |
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3] Reserves & Surplus |
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10.287 |
8.311 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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20.657 |
17.631 |
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LOAN FUNDS |
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1] Secured Loans |
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28.019 |
10.360 |
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2] Unsecured Loans |
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27.990 |
19.219 |
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TOTAL BORROWING |
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56.009 |
29.579 |
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DEFERRED TAX LIABILITIES |
|
0.002 |
0.059 |
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TOTAL |
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76.668 |
45.269 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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5.890 |
4.753 |
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Capital work-in-progress |
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13.051 |
0.000 |
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INVESTMENT |
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1.603 |
2.000 |
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DEFERREX TAX ASSETS |
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0.00 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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70.330 |
28.873 |
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Sundry Debtors |
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101.160 |
62.142 |
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Cash & Bank Balances |
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14.743 |
9.559 |
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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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14.534 |
8.802 |
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Total
Current Assets |
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200.767 |
109.376 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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140.709 |
66.555 |
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Provisions |
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3.945 |
2.320 |
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Total
Current Liabilities |
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144.654 |
68.875 |
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Net Current Assets |
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56.113 |
40.501 |
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MISCELLANEOUS EXPENSES |
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0.011 |
0.015 |
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TOTAL |
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76.668 |
45.269 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover [Estimated] |
|
150.000 |
100.000 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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9.71 |
5.58 |
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Current Ratio (Current Asset/Current Liability) |
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1.39 |
1.59 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
Name of the company |
YOG
INTERNATIONAL PRIVATE LIMITED |
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Presented By |
Mr. Amar Nath
Gupta, Director |
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1) Date and description of instrument creating the change |
Date 26.09.2003,
Agreement of Deed LDOC 17 B |
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2) Amount secured by the charge/amount owing on the securities of charge |
Overall limit Rs.
29.000 Millions |
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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 |
Hypothecation of
stock off all types of chemicals such as Benzene, M.I.B.K, Phenol, Toulene
etc stored at Kanpur, Delhi, Faridabad, Mumbai, Kandla both present and
future whether lying in borrower’s premises or godowns or lying loose / at
cleaning agent’s warehouse, Hypo of Book Debts of the company, Hypo of
Machinery / Equipments of company. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Cash Credit [Hypo
of Stocks and Book Debts] : Rs. 6.000 Millions Margin : 25 % Rate of Interest
: 1.50 % over STPLR – II Period : on
demand subject to review after 12 months Penal Interest : 2
% for non submission of stock / book debts statements and 1 % for Non
compliance of terms and conditions. FLC [Usance 90
days] – Cum Lone of Credit : Rs. 23.000 Millions Margin : 20 % in
the shape of FD’s / FDR & 25 % at the time of line of credit cash credit
limit Rate of Interest
: 1.50 % over STPLR – II + 0.50 % for switchover in line of credit Penal Interest :
2 % for non submission of stock / book debts statements and 1 % for Non compliance of
terms and conditions. |
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5) Name and Address and description of the person entitled to the charge. |
Bank of |
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6) Date and brief description of instrument modifying the charge |
Date 16.07.2005,
Agreement of Deed LDOC 17 B |
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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. |
Hypothecation of
stock off all types of chemicals such as Benzene, M.I.B.K, Phenol, Toulene
etc stored at Kanpur, Delhi, Faridabad, Mumbai, Kandla both present and
future whether lying in borrower’s premises or godowns or lying loose / at
cleaning agent’s warehouse, Hypo of Book Debts of the company, Hypo of
Machinery / Equipments of company. Cash Credit [Hypo
of Stocks and Book Debts] : Rs. 10.000 Millions Margin : 25 % Rate of Interest
: 1.50 % over BPLR – Minimum 12 % Period : on
demand subject to review after 12 months Penal Interest : 2
% for non submission of stock / book debts statements and 1 % for Non
compliance of terms and conditions. FLC [Usance 90
days] – Cum Lone of Credit : Rs. 48.000 Millions Margin : 15 % in
the shape of FD’s / FDR & 20 % at the time of line of credit cash credit
limit Rate of Interest
: 1.50 % over STPLR – II + 0.50 % for switchover in line of credit Penal Interest :
2 % for non submission of stock / book debts statements and 1 % for Non
compliance of terms and conditions. |
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Corporate identity
number of the company |
U65910UP1997PTC021784 |
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Name of the
company |
YOG INTERNATIONAL PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
123/1-F, Anapurna Bhawan, |
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This form is for |
Creation of charge |
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Type of charge |
Hypothecation
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Particular of
charge holder |
Citi Bank N. A. Jeevan Vihar, 3
Sansad Marg, |
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Nature of instrument
creating charge |
Goods security
agreement |
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Date of
instrument Creating the charge |
30.08.2006 |
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Amount secured by
the charge |
Rs. 90.000
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Interest for cash
credit 9.75 % p.a. All taxes, duties
and levies as applicable to a specific transaction would be born by the
borrower. First and
exclusive charge on all present and future stocks and receivables and fixed
assets of the company. |
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Description of
the property charged indicating whether it is a charged on |
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Particulars of
the property charged |
First charge on all
present and future stocks and receivables and fixed assets of the company
wherever they may be located. |
AS PER
WEBSITE
Profile
A first generation entrepreneur Mr. Amar Nath Gupta is the
chairman of Yog Group under his leadership
the company has grown from a small trading house to one of the leading
distributors of chemicals in
They have been actively distributing chemicals in India
through their offices which are located in all major business centers viz
Mumbai, Delhi, Ahmedabad, Hyderabad and Kanpur in addition to this they have
inland storage of more than 750 MT available for storage of products in their
warehouses which are equipped with all the regulatory government licenses
applicable for handling and storage of hazardous chemicals.
At present they have a sales of more than US$ 25 million of
which Aromatics accounts for almost 25% of their sales.
The products distributed by them are mostly imported at
They have recently started a refilling unit at Kandla SEZ
for export of their products into markets in East Africa, South East Asia and
They have a overseas office at
Subject is the
exporter and importer of Chemicals
like Polyene, Methanol, Phenol, Vinyl, Acetate, Monomer, Ethyl Acetate, Butyl
Acetate, Normal Butanol and Butyl Acrylate. They are committed
to ensure quality services in the most transparent and competitive form, to
provide total customer satisfaction. They have gained high reputation in the
chemical market and are proud to offer almost all variety of chemical products.
They are the supplier of premium quality of Solvent &
Organic/Inorganic products in the Industrial &
Pharmaceutical market. Over the years, they have been serving the industries
from the field of paint, coating, ink, perfumery, cosmetic, detergent &
pharmaceutical.
Wide Network
They have a wide network in almost all the major cities of
Team
Having a comprehensive team of sales and in-house logistics and operations
department, subject provides
economical and timely solutions and is a one stop shop for all the chemical
requirements.
Other Avenues
They are well introduced in the Chemical and Solvent market and for past 5 years their company has
been diversifying the stream of business by entering into the field of
IT-Solutions. They are proud to work over any IT-Solution and related product
and accessories requirements. They are serving the following industries in the
field of Information Technology:
- Telecommunications
- Cable T V
- Internet
Networks
- Institutional
Segment
- R&D
Organizations
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.40.46 |
|
|
1 |
Rs.81.55 |
|
Euro |
1 |
Rs.55.09 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
|
--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 |
YES |
|
--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 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 |
|