MIRA
INFORM REPORT
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Report Date : |
29.06.2007 |
IDENTIFICATION DETAILS
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Name : |
ANJANI INTERTRADE PRIVATE LIMITED |
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Formerly Known as: |
DHUNSERI ASSAM TEA COMPANY PRIVATE LIMITED |
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Registered Office : |
1119, Hemkunt Chambers, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
24.07.1998 |
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Com. Reg. No.: |
55-95151 |
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CIN No.: [Company
Identification No.] |
U74909DL1998PTC095151 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Processing and Trading of Tea, Natural Essential Oils and Chemicals |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
- |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an old and established company having moderate track records.
Company’s profitability is under severe pressure. It has some accumulated losses. Payments are reported as slow and delayed. The company can be considered normal for small business dealings
against fully safe and secured trade terms and conditions. |
LOCATIONS
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Registered Office : |
1119, Hemkunt Chambers, |
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Tel. No.: |
91-11-26466776/66627456 |
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Mobile No.: |
91-9899648705 / 9312009604 |
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Fax No.: |
91-11-26214941 / 25097449 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Satya Narain Jallan |
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Designation : |
Whole Time Director |
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Address : |
Jallan House, |
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Date of Appointment : |
24.07.1998 |
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Name : |
Mr. Ashok Kumar Jallan |
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Designation : |
Managing Director |
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Address : |
DPS Apartments, Flat No. 323, Sector – 4, Plot No. 16, Dwarka Ph – I, |
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Date of Birth/Age : |
18.12.1954 |
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Date of Appointment : |
24.07.1998 |
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Name : |
Ms. Sashi Devi Jallan |
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Designation : |
Whole Time Director |
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Address : |
DPS Apartments, Flat No. 323, Sector – 4, Plot No. 16, Dwarka Ph – I, |
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Date of Birth/Age : |
06.06.1959 |
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Date of Appointment : |
24.07.1998 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Satya Narain Jallan |
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100 |
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Mr. Ashok Kumar Jallan |
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6600 |
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Ms. Sashi Devi Jallan |
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3300 |
BUSINESS DETAILS
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Line of Business : |
Processing and Trading of Tea, Natural Essential Oils and Chemicals |
GENERAL INFORMATION
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Bankers : |
Not Available |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
M. S. Dagar & Associates Chartered Accountants |
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Address : |
M – 4, Hemkunt Chambers, 89, |
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PAN No.: |
AAGPD4800M |
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Tel No.: |
91-11-26466928 |
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Fax No.: |
91-11-26482064 |
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E-Mail: |
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Association /
Subsidiaries: |
Aravali Essential Oils and Fragrances Line of Business: Importers of natural essential oils including
citronella oil, patchouli oil, geranium oil, aroma chemicals including
linlool. Linaylacetate, phenyl ethyl alcohol, citronellol and geraniol. |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.000 |
0.000 |
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4] (Accumulated Losses) |
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[0.997] |
[1.043] |
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NETWORTH |
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[0.897] |
[0.943] |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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1.614 |
0.362 |
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TOTAL BORROWING |
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1.614 |
0.362 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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0.717 |
[0.581] |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.222 |
0.236 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.433
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0.622 |
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Sundry Debtors |
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0.879
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1.348 |
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Cash & Bank Balances |
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0.034
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0.022 |
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Other Current Assets |
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0.000
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0.000 |
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Loans & Advances |
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1.302
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0.028 |
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Total
Current Assets |
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2.648 |
2.020 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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2.138
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2.830 |
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Provisions |
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0.015
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0.007 |
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Total
Current Liabilities |
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2.153 |
2.837 |
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Net Current Assets |
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0.495 |
[0.817] |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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0.717 |
[0.581] |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover and Other Income |
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4.018 |
2.071 |
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Profit/(Loss) Before Tax |
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0.086 |
0.102 |
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Provision for Taxation |
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0.040 |
0.062 |
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Profit/(Loss) After Tax |
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0.046 |
0.040 |
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Total Imports |
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1.469 |
0.000 |
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Expenditures : |
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Cost of Goods Sold |
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Manufacturing Expenses |
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Administrative Expenses |
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Raw Material Consumed |
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Purchases made for re-sale |
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Consumption of stores and spares parts |
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Increase/(Decrease) in Finished Goods |
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3.838 |
1.872 |
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Salaries, Wages, Bonus, etc. |
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Managerial Remuneration |
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Payment to Auditors |
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Interest |
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Insurance Expenses |
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Power & Fuel |
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Depreciation & Amortization |
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0.014 |
0.014 |
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Financial Charges |
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0.080 |
0.083 |
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Total Expenditure |
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3.932 |
1.969 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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1.14 |
1.93 |
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Net Profit Margin (PBT/Sales) |
(%) |
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2.14 |
4.92 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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2.99 |
4.52 |
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Return on Investment (ROI) (PBT/Networth) |
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(0.09) |
(1.08) |
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Debt Equity Ratio (Total Liability/Networth) |
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[4.19]
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[3.39] |
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Current Ratio (Current Asset/Current Liability) |
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0.74
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0.71 |
LOCAL AGENCY FURTHER INFORMATION
Name changed:
The subject was incorporated on 24.07.1998 in the name of “DHUNSERI
ASSAM TEA COMPANY PRIVATE LIMITED”
The name of the subject company has been changed to its present name
i.e. “ANJANI INTERTRADE PRIVATE LIMITED” with effect from 16.01.2007
Business:
To carry on the business of raising Plantations of Aromatic &
Medical Plants and entering into buy back arrangements with Growers / Farmers
all over the country for the procurement of their produce of Aromatic &
Medicinal Plants, to set up processing facilities for the processing of
Aromatic & Medicinal Herbs / Plants / Grasses for the production of Natural
Essential Oils. Aroma Chemicals,
Resinoids, Perfumery Compounds, Menthol, Medicinal Extracts & Formulations
etc. and to undertake trading, importing & export of the products as
described above.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.84 |
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1 |
Rs.81.81 |
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Euro |
1 |
Rs.55.03 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
1 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
- |
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--CREDIT LINES |
1~10 |
- |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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13 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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