%20PRIVATE%20LIMITED%2028-Jul-2007_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
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Report Date : |
28.07.2007 |
IDENTIFICATION DETAILS
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Name : |
MAHAFEED
SPECIALITY FERTILIZER ( |
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Formerly Known As : |
PIONEER
AGRITECHNOSCAN AND EXPORTERS PRIVATE LIMITED |
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Registered Office : |
9 Chandrama, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
08.04.1994 |
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Com. Reg. No.: |
11-77630 |
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CIN No.: [Company
Identification No.] |
U70200MH1994PTC077630 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEP02054D |
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PAN No.: [Permanent
Account No.] |
AABCP0342G |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Exporter, Trader,
Importer and Marketer of Speciality 100 % Water Soluble NPK Fertilizer and
Chelated Micronutrients. |
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 150000 |
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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 company having satisfactory track. Trade relations are fair.
Financial position is good. Payments are usually correct and as per
commitments. The company can be
considered good for any normal business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered Office : |
9 Chandrama, |
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Tel. No.: |
91-20-25412413 /
14 |
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Mobile No.: |
91-9822331909 |
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Fax No.: |
91-20-25412415 |
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E-Mail : |
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Website : |
http://www.indiamart.com/mahafeed
, http://www.mahafeedwsf.com |
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Area : |
1200 sq. ft.
[Owned] |
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Factory 1 : |
Gate. No. 281/1, Plot
No. 21, At Kasar Amboli, Tal- Mulsi, District Pune-412108, Maharashtra, India
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Tel. No.: |
91-20-22923648 |
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Mobile No.: |
91-9423006518 |
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Area : |
1800 sq. ft. [Owned] |
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Branch : |
Pimpalgaon (B),
District Nashik, |
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Area : |
1500 sq. ft. |
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Location : |
Rented |
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Branch : |
Tasgaon, District
Sangli, |
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Area : |
1400 sq. ft. |
DIRECTORS
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Name : |
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Designation : |
Managing Director |
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Address : |
9 Chandrama, |
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Date of Birth
: |
16.02.1948 |
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Qualification
: |
MSC (Aqri) |
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Experience : |
27 Years |
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Name : |
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Designation : |
Whole Time
Director |
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Address : |
9 Chandrama, |
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Date of Birth
: |
25.04.1975 |
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Qualification
: |
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Experience : |
12 Years |
MAJOR SHAREHOLDERS
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Names of Shareholders |
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No. of Shares |
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T. T. Patil |
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264120 |
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Praveen T. Patil |
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204120 |
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S. T. Patil |
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24000 |
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Nalini T. Jadhav |
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6000 |
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Pratibha Bachhav |
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6000 |
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Total |
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504240 |
BUSINESS DETAILS
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Line of Business : |
Exporter, Trader,
Importer and Marketer of Speciality 100 % Water Soluble NPK Fertilizer and
Chelated Micronutrients. |
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Products : |
§
Water
Soluble NPK Fertilizer §
Chelated
Micronutrients |
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Brand Names : |
MAHAFEED |
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Exports : |
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Countries : |
UAE, |
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Imports : |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit
upto 30-60 days basis |
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Purchasing : |
L/C upto 90-120
days basis |
GENERAL INFORMATION
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Customers : |
§
Wholesalers
§
Retailers
§
End
Users |
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No. of Employees : |
50 |
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Bankers : |
Dena Bank Kothrud-Poud
Phata Branch Bank of |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
RMR Shah and
Company Chartered
Accountants |
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Address : |
Pune-411030, |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7,50,000 |
Equity Shares |
Rs.10/- each |
Rs. 7.500 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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5,04,240 |
Equity Shares |
Rs.10/- each |
Rs. 5.042 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
5.042 |
5.042 |
5.042 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
34.762 |
27.099 |
16.908 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
39.804 |
32.141 |
21.950 |
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LOAN FUNDS |
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1] Secured Loans |
9.841 |
1.901 |
1.404 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
9.841 |
1.901 |
1.404 |
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DEFERRED TAX LIABILITIES |
0.758 |
0.745 |
0.687 |
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Deposit, Advances and Other Liability
|
8.038 |
1.303 |
1.558 |
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TOTAL |
58.441 |
36.090 |
25.599 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
21.638 |
21.155 |
8.073 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
3.059 |
0.600 |
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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 |
31.308
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34.972 |
26.096 |
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Sundry Debtors |
20.949
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25.204 |
6.642 |
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Cash & Bank Balances |
6.838
|
4.999 |
10.917 |
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Other Current Assets |
11.789
|
9.809 |
13.869 |
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Loans & Advances |
0.000
|
0.000 |
0.000 |
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Total
Current Assets |
70.884
|
74.984 |
57.524 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
34.143
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63.172 |
40.598 |
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Provisions |
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Total
Current Liabilities |
34.143
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63.172 |
40.598 |
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Net Current Assets |
36.741
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11.812 |
16.926 |
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MISCELLANEOUS EXPENSES |
0.062 |
0.064 |
0.000 |
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TOTAL |
58.441 |
36.090 |
25.599 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
184.588 |
189.777 |
114.832 |
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Other Income |
2.401 |
1.439 |
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Total Income |
186.989 |
191.216 |
114.832 |
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Profit/(Loss) Before Tax |
12.134 |
15.209 |
9.822 |
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Provision for Taxation |
4.122 |
5.028 |
3.624 |
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Profit/(Loss) After Tax |
8.012 |
10.181 |
6.198 |
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Expenditures : |
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Cost of Goods Sold |
119.546 |
109.502 |
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Administrative Expenses |
27.131 |
33.318 |
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Finance Charge |
1.845 |
1.453 |
27.595 |
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Selling Expenses |
9.252 |
11.903 |
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Other Expenses |
41.137 |
19.831 |
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Total Expenditure |
198.911 |
176.007 |
27.595 |
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%20PRIVATE%20LIMITED%2028-Jul-2007_files/image003.gif){kind=small}
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
4.28
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5.32 |
5.40 |
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Net Profit Margin (PBT/Sales) |
(%) |
6.57
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8.01 |
8.55 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
13.11
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15.82 |
14.97 |
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Return on Investment (ROI) (PBT/Networth) |
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0.30
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0.47 |
0.45 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.11
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2.02 |
1.91 |
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Current Ratio (Current Asset/Current Liability) |
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2.08
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1.18 |
1.42 |
LOCAL AGENCY FURTHER INFORMATION
Trade Reference
- Richfield Fertilizers Limited
B-27, MIDC, Ambad,
Nashik – 422010
Swapnil Bachhav –
2532380063
- Trimurti Agro Agency
Old
2550251041
- Unique Crop Care
No. B. B. First
Floor,
Mr. Panneer –
9443376465
AS
PER WEBSITE:
The company is leading importer
& marketer of Speciality 100 % Water Soluble NPK fertilizers and Chelated
Micronutrients. The company are also leading exporter of Sulphates.
Mahafeed is
associated with import & export of Speciality Fertilizers and tied up
exclusively with
Profile
The reputation of Mahafeed is based on the efficacious speciality product. The
products are desired by intense study, through research & experiments
carried out by the experts of the company.
Products
All products are tried & tested ones. The positive outcome of their uses in
all kinds of conditions is an evidence of the foolproof nature of experiments
& trials conducted by the experts.
1. Water Soluble NPK Fertilizers
2. Chelated Micronutrients
3. Sulphates
4. NPK-19-19-19, 13-40-13,
5. Mono Ammonium Phosphate (12-61-0)
6. Mono Potassium Phosphate (0-52-34)
7. Potassium Nitrate (13-0-45)
8. Sulphate of Potash (0-0-50+18 Sulphar) (Granular for Blending)
9. Calcium Nitrate
10. Magnesium Sulphate (Hepta Hydrate)
11. Zinc Sulphate (Hepta Hydrate)
12. Ferrous Sulphate (Hepta Hydrate)
Quality
The impressive result that the products have yielded, used by the customers, in
varying conditions is the biggest endorsement of the quality. The quality is a
result of several activities they undertake in the house to check the
efficiency of the chemicals. All the chemicals go through several processes of
testing by the chemists who put the products to use in different artificially
made conditions replicating the natural climatic, soil & other geographical
attributes of various arable locations.
Infrastructure
To do justice to a demanding methodology as above you need an infrastructure,
which is permissive of all the processes. They have high-tech equipment used by
experienced & qualified experts. The equipment are constantly kept under
observation of technicians who ensure that they are in a proper & efficient
state.
Clients
The company has a commendable client list both in
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.40.48 |
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|
1 |
Rs.82.59 |
|
Euro |
1 |
Rs.55.55 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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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 |
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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 |
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