MIRA INFORM REPORT

 

 

Report Date :

10.05.2007

 

IDENTIFICATION DETAILS

 

Name :

KARTAR AGRO INDUSTRIES PRIVATE LIMITED

 

 

Registered Office :

769/1 Street No 5, Partap Nagar, Ludhiana,;141003, Punjab

 

 

Country :

India

 

 

Financials (as on) :

31.03.2006

 

 

Date of Incorporation :

27.03.1990

 

 

Com. Reg. No.:

010233

 

 

CIN No.:

[Company Identification No.]

U29211PB1990PTC010233

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacture of Agricultural Equipments and Harvesters.

 

 

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 49000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well-established and reputed company having satisfactory track. Directors are reported as experienced 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

 

Registered Office :

769/1 Street No 5, Partap Nagar, Ludhiana,;141003, Punjab

Fax No.:

91-1765-260486

E-Mail :

Kartar1234@rediffmail.com

Website :

http://www.indiamart.com/kartaragrol  

 

 

Factory address:

Amloh Road, Bhadson, Patiala

Tel No:

91-1765-260136 / 260486

Fax NO:

91-1765-260486

 

 

DIRECTORS

 

Name :

Mr. S.Harbane Singh c/o S. Daulat Singh

Designation :

Director

Address :

Thana road, Bhadson, Dist:Patiala

Date of Appointment :

27.03.1990

 

 

Name :

Mr. s. Amarjit Singh c/o S. Kartar Singh Nabha Road

Designation :

Director

Address :

Thana road, Bhadson, Dist:Patiala

Date of Appointment :

27.03.1990

 

 

Name :

Mr. Ishar Singh

Designation :

Director

Address :

Nabh Road, Bhadeon, Dist:Patiala

Date of Appointment :

01.04.1996

 

 

Name :

S. sukhdev Singh S/o Isher Singh

Designation :

Director

Address :

Nabh Road, Bhadeon, Dist:Patiala

Date of Appointment :

01.05.00

 

 

Name :

Mr. S. Manjit Singh S/o Amarjit Singh

Designation :

Director

Address :

Nabh Road, Bhadeon, Dist:Patiala

Date of Appointment :

01.04.2003

 

 

Name :

Mr. s. Manpret Singh S/o S. Kartar Singh

Designation :

Director

Address :

Nabh Road, Bhadeon, Dist:Patiala

Date of Appointment :

01.04.2003

 

 

Name :

Mr. S Harmeet Singh s/o. Isher Singh

Designation :

Director

Address :

Nabh Road, Bhadeon, Dist:Patiala

Date of Appointment :

01.03.2003

 

 

 

 

MAJOR SHAREHOLDERS

 

Names of Shareholders

 

No. of Shares

S. Amirk Singh

 

7582

S. Swaran Singh

 

4582

S. Surinder Singh

 

4582

S. Amarjit Singh

 

16357

Narinder kaur

 

2060

Manmohan Kaur

 

1060

S.Jagdish Singh

 

2050

S. Gilzar Singh

 

350

S. Nagindar Singh

 

350

S. Isher Singh

 

8887

S.Harivnder Singh

 

4900

 

Equity Shares Break up:

Category

Percentage

Directors or Relatives of Directors

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacture of Agricultural Equipments and Harvester

 

 

Products :

Maize Combine Harvester

Tractor Mounted Combine Harvester

Self Propelled Combine Harvester

Knotter

Track Type Combines

Straw Bacers

Straw Reaper

 

 

GENERAL INFORMATION

 

No. of Employees :

Around 50

 

 

Bankers :

Union Bank of India, Patiala Mall Branch

 

 

Facilities :

--

 

 

 

Banking Relations :

Satisfactory

 

 

Auditors :

 

Name :

R.S. Khera and Associates

Chartered Accountant

Address :

Upstairs Chawla Juice Corner Gill Road, Ludhiana;141003, Pubnjab

 

 

 

CAPITAL STRUCTURE

 

Authorised Capital :

No. of Shares

Type

Value

Amount

100000

Equity Shares

Rs.100/- each

Rs.10.000 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

52760

Equity Shares

Rs.100/-  each

Rs.5.276 Millions

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

31.03.2006

31.03.2005

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

 

5.276

5.276

2] Share Application Money

 

1.000

0.000

3] Reserves & Surplus

 

6.094

5.592

4] (Accumulated Losses)

 

0.000

0.000

NETWORTH

 

12.370

10.868

LOAN FUNDS

 

 

 

1] Secured Loans

 

5.310

2.556

2] Unsecured Loans

 

5.250

5.191

TOTAL BORROWING

 

10.56

7.747

DEFERRED TAX LIABILITIES

 

0.973

0.910

 

 

 

 

TOTAL

 

23.903

19.525

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

10.198

9.020

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
 

8.863

6.023

 

Sundry Debtors
 

19.210

16.576

 

Cash & Bank Balances
 

1.671

0.619

 

Other Current Assets
 

0.000

0.000

 

Loans & Advances
 

4.090

0.670

Total Current Assets
 

33.834

23.888

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Current Liabilities
 

17.916

11.032

 

Provisions
 

2.213

2.351

Total Current Liabilities
 

20.129

13.383

Net Current Assets
 

13.705

10.505

 

 

 

 

MISCELLANEOUS EXPENSES

 

0.000

0.000

 

 

 

 

TOTAL

 

23.903

19.525

 

KEY RATIOS

 

PARTICULARS

 

 

 

31.03.2006

31.03.2005

Debt Equity Ratio

(Total Liability/Networth)

 
 

1.62

1.23

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 

1.68

1.78

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

This form is for

Modification of Charge

Charge identification number of the charge to be modified

90173699

Corporate identity number of the company

U29211PB1990PTC010233

Name of the company

KARTAR AGRO INDUSTRIES PRIVATE LIMITED

Address of the registered office or of the principal place of  business in India of the company

769/1,Street No 5, Partap Nagar, Ludhiana ;141003, Punjab

Type of charge

Immovable Property

Book Debts

Movable Property

Particular of charge holder

Union Bank of India

The Mall, Patiala;147001

Ubi_patiala@yahoo.co.in

Nature of description of the instrument creating or modifying the charge

Hypothecation of Stock of raw Marterial, smi-finished Goods, finished Goods, Equipment Tools, Combine Harvestor/ Agriculture, Implements, all the outastanding book debts and equitable mortagage of Land and Building of the company

 

Hypothecation of Plant and Machinery

Date of instrument Creating the charge

08.02.2007

Amount secured by the charge

Rs.22.500 Millions

Brief particulars of the principal terms an conditions and extent and operation of the charge

Rate of Interest:

Interest on CC Limit@15.00% p.a on Monthly rests

Interest onTerm loan @16.00% p.a on monthly rests.

 

Terms of repayments

CC limits repayable on Demand

Term Loan repayable in 84 monthly installments

 

Margin

25%

 

Extent and operation of the charge

100% in favour of Union Bank of India, The Mall, Patiala.

 

Other

--

Short particulars of the property charged

Land and Building, Plants and Machinery situated at Amloh road Bhadson, Distt:Patiala

Date of latest modification prior to the present modification

27.06.2006

Particulars of the present modification 

Hypothecation of Stock of raw Material, semi-finished Goods, Finished Goods, Equipment Tools, Combine Harvestor/ agriculture implements, all the outstanding book-debts and equitable mortage of land and Building of the company

 

Hypothecation of Plant and Machinery of the company.

 

 

Name of the company

M/s. Kartar Agro Industries Private Limited

Presented By

Sh. Harvinder Singh (Director)

1) Date and description of instrument creating the change

Hypothecation agreement of goods, book-debts, and assets of the companyin form No.S-3 dated 18.10.1990 and further modified on 11.10.1996 12.09.1998 and 26.12.1998

2) Amount secured by the charge/amount owing on the securities of charge

Rs.0.800 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 raw materials, sapre Parts, finished goods of Combine and Book-debts

4) Gist of the terms and conditions and extent and operation of the charge.

Interest rate of 1.00% over PLR with minimum 11.25% p.a with monthly rests Margin25% extent of operation 100% at present

5) Name and Address and description of the person entitled to the charge.

Union Bank of India, Patlal Mall Branch

6) Date  and brief description of instrument modifying the charge

Hypothecation of goods, Book debts and assets of the compny date 23.04.2003

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.

Limits enhanced from rs.5.000 Millions to Rsw. 7.500 Millions with additional cover on rawmaterial, Spare parts, finished goods of combines and book debts and on all other propertiesw and assets in the name of company.

 

As Per Web Site

ABOUT THEM

Established with a vision to offer world class products and services, Kartar Agro Industries, has consolidated itself as a preferred name to do business with. They manufacture a wide range of Agricultural Equipment including Tractor Mounted Combine Harvesters, Self Propelled Combine Harvesters, Maize Combine Harvesters, Knotters, Track Type Combines, Straw Bacers and Straw Reaper.


Their team of expert professionals work in close co-ordination with their clients to understand their specifications and deliver products accordingly. They have a huge inventory, with stocks available throughout the year. Besides, they can also deliver products at a short notice. With their pro-active approach and world class service, they have changed the dynamics of industry and redefined the paradigms of the professional excellence.

Their Products


They offer a wide range of qualitative products and that has helped them to establish a strong foothold in the industry.

 

Maize Combine Harvester

Tractor Mounted Combine Harvester

Self Propelled Combine Harvester

Knotter

Track Type Combines

Straw Bacers

Straw Reaper


 

Maize Combine Harvester

Features:

Kartar Group of Industries developed the fully Indigenous Maize Combine Harvester (self-propelled) for the first time in India. This Maize Header can be fitted with any Combine Harvester and Farmers can harvest additional crops of Maize and Sun flower, harvesting 15-20 acres per day.

 

Fan

Steering

Capacity

Tyres

Dimensions

Working Capacity

No. of Blades
Diameter of Fan
Width of
Fan Adjustment

Steering System

Fuel Tank Grain
Tank Hyd.
Oil Tank

Front
Rear &
Trolley

Length
Width Min.
Ground Clearance
Weight

Wheat Paddy

4
525 mm
770 mm
Mechanically

Hydraulic

200 Lts.
1.25
Meter
Cube
17 Lts.

16.9
-28
6.00
-16

7650 mm
3300
410 mm
6900 kgs.

2.5
Acres./
hour 2
Acres./
hour

4
540 mm
1020 mm
Mechanically

Hydraulic

280 Lts.
1.73
Meter
Cube
35 Lts.

18.4
/ 15
/ 30
7.50
-16

8000 mm
4100 mm
410 mm
7400 kgs.

3.5
Acres./
hours 3
Acres./
hour

4
540 mm
1270 mm
Mechanically

Hydraulic

280 Lts
2.10
Meter
Cube
35 Lts

18.4
/ 15
/ 30
7.50
- 16

1500 mm
4520 mm
410 mm
8000 kgs

4.5 Acres.
/ hour 4
Acres./
hour

 

 

Tractor Mounted Combine Harvester

Features:

Superior, Compact & Light weight structure

Heavy duty Axle (Front & Rear)

Very economical in operations

Suitable for operation in wet land· Durable drives

Durable drives

Model

K 350 (OT)

Type
of Prime
mover

Suitable
Tractor to be
fitted

            Tyre size

Drive wheel

16.9 x
28 (12 PR)
2 Nos

 

Steering
wheel

6.50 x
20 (8 PR)
2 Nos

 

Cutter
bar Assy.

Effective
width
3600 mm
Working
width
3900
mm

Thresher
Drum

595 mm
dia 1045
mm
width

Straw
walker

5 (184 mm x
3810 mm)

Blower

550 mm
dia x
1100 mm
width – 4
Blade

Blade
size

1075
mm x
128 mm

Driving

V belt
with pulley
arrangement

Blade
size

1075
mm x
128 mm

Driving

V belt
with pulley
arrangement

Overall
dimension
while
harvester

L – 8250
mm W –
3900 mm
H –
3480 mm

Overall
dimension
while
on road

L – 10900
mm W –
2650 mm
Wt. -
3990 kg

 

 

Self Propelled Combine Harvester

Features:

State-of-the-art manufacturing  Superior & Robust structure Spares easily available all over India Very economical in operations Enormous power & durable drives Tested by Govt. of India at Central Farm Machinery Training & Testing Institute, Tractor Nagar Budni (M.P.) Kartar Combine Harvester are also Exported to Pakistan, Burkina Faso (Africa West) & Zambia.

 

 

Engine

Cutter Bar

Reel

Thresher
Drum

Concave

Straw
Walkers

Cleaning

Group
Speed

Descriptions

Type of
Engine No.
of Cylinders
Bhp Maximum
Cooling
System

Width
Height
Adjustment
Cutting Height
Min. Cutting
Height Max.

Type
Speed
Adjustment
Height
Adjustment

Dia of
Drum
Length of
Drum
Speed of
Drum
Adjustment
No. of
Rasp Bars
No. of Spikes

Clearance
Between
Concave &
Thrasher
Dram at
inlet at
outlet
Adjustment

No. of
Straw
walkers
Area

Area
Adjustment

1st Gear km/h 2nd Gear km/h 3rd Gear km/h 4th Gear km/h

Kartar
3500

RB 44
Kirlos
kar 4 (four)
61 HP at
2000
rpm
Water
Cooled

3500
mm
Hydraulically
100 mm
1000 mm

Pick up
Mechanically
Hydraulically

600 mm
765 mm
535 to
1200 rpm
Mechanically
8
(Eight)
96

16 to
39 mm
3 to
16 mm
Mechanically

3 (Three
) 3
(3225
x 250)
mm sq.

1715 x
710
mm sq.
Mechanically

1.2 to
3.5
3.5 to
8.5
7.5 to
20.9
3.5 to
8.7

Kartar
4000

Kirloskar
R-6/ ALU
1080
6 (six)
91 HP at
2000
rpm Water
Cooled

4000 mm
Hydraulically
100 mm
1000 mm

Pick up
Mechanically
Hydraulically

600 mm
1010 mm
535 to
1200
rpm
Mechanically
8 (Eight)
120

16 to
39 mm
3 to 16
mm
Mechanically

5
(Five) 5
(3860
x 180)
mm sq.

1740 x
970
mm sq.
Mechanically

1.5 to
3.5
3.5 to
9.0
8.5 to
21.9
3.5 to
9.0

Kartar
4500

Ashok
Leyland /
Kirloskar
R-6
ALU
400 6
(six) 105
HP at
2000
rpm
Water
Cooled

4400
mm
Hydraulically
100 mm
1000 mm

Pick up
Mechanically
Hydraulically

600 mm
1260 mm
535 to
1200 rpm
Mechanically
8
(Eight) 152

16 to
39 mm
3 to 16
mm
Mechanically

6
(Six) 6
(3860
x 195)
mm sq.

1740 x
970 mm
sq.
Mechanically

1.5 to
3.5
3.5 to
9.0
8.5 to
21.9
3.5 to
9.0

 

 

Knotter
Kartar Knotter can be operated with 35 H.P. or above tractor with dual clutch. It is specially designed and automatically picks up the residue straw which is transferred into bale chamber with help of plunger. The straw is compressed into a compact variable lengths size, Kartar Knotter also automatically ties the knots and meets the requirements of the farmer through it's reliability, highly satisfactory performance and operational ease. It is suitable for sugarcane trash, wheat and paddy straw. It can be utilized both as a movable or stationery unit. Knotter K-36 is one of the widely used models of their wide range of Knotters


Applications
Widely used in paper industries, dairy farms, packaging industries, mushroom industries and biomass power generation plant

 

Pick up Reel

1.65 mtr

Plunger stroke (at 540 rpm)

89 per minute

Knotters

2

Twin box capacity

4 spools

Main drive fly wheel diameter

559 mm

P.T.O.

Three joint

Protection

Slip clutch provided

Tractor requirement

35 H.P. & above

Clutch type

Dual

P.T.O. Standard rpm

540 rpm

Bale Length size

0.40 – 1.10 mtr.

Overall dimension

 

Length

4.57 mtr.

Width

2.51 mtr.

Height

1.37 mtr.

Machine weight (Approx)

1580 kgs.

 

QUALITY STATEMENT

A quality conscious company, they leverage all their expertise to offer high quality products to their customers. The products are purchased from the reputed manufacturers and cross checked at their in-house testing center, before considering ready to be delivered.


WHY Them?

They adhere to the international norms of quality.

They have a wide industrial experience.

Their products are sourced from the reputed suppliers & manufacturers.

They offer their qualitative products at very competitive prices.

They have a huge inventory, with stocks available throughout the year.

They have a wide network of distributors to facilitate delivery of products on time.

 

THEY SERVE

With their unrelenting efforts and world class delivery, they have won adulations from all across the world and establish a strong client base in India and abroad.



 

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.41.00

UK Pound

1

Rs.81.80

Euro

1

Rs.55.58

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--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

NO

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

46

 

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

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions