MIRA
INFORM REPORT
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Report Date : |
29.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
SHEELCHAND AGROILS PRIVATE LIMITED |
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Registered Office : |
Bareilly Road, Haldwani, Dist. Nainital – 263 139, Uttar Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
14.02.1994 |
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Com. Reg. No.: |
016109 |
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CIN No.: [Company
Identification No.] |
U15142UR1994PTC016109 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MRTS01857C |
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PAN No.: [Permanent
Account No.] |
AAECS6866P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
The company is engaged in dealing in Soyabean, Mustard, Coconut and Vegetable Deoiled Cakes & Seeds and process of above or any other products which is or may be manufactured there from. |
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 580000000 |
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Status : |
Good |
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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 : |
Bareilly Road, Haldwani, Dist. Nainital – 263 139, Uttar Pradesh, India |
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E-Mail : |
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Factory 1 : |
Lalpur, Tehsil – Kichha, Dist. Nainital, Uttar Pradesh, INDIA |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Mohan Goel |
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Designation : |
Director |
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Name : |
Mr. Bhawani Shanker |
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Designation : |
Director |
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Name : |
Mr. Pramod Kumar Goel |
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Designation : |
Director |
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Name : |
Mr. Rakesh Kumar |
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Designation : |
Director |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Bhawani Shanker |
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7,810 |
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Mr. Mohan Goel |
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8,110 |
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Mr. Pramod Kumar |
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6,300 |
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Mrs. Kanti Devi |
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9,050 |
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Mr. Rakesh Kumar |
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3,400 |
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Mr. Kailash Chand |
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2,930 |
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Mrs. Pinky Goel |
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3,320 |
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Mr. Prakash Devi |
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3,850 |
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Mrs. Gomti Devi |
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4,700 |
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Mrs. Asha Goel |
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5,530 |
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Mrs. Sunita Goel |
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1,600 |
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Mr. Puneet Kumar |
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3,000 |
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Mr. Sagar Goel |
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3,000 |
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Total |
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62,600 |
BUSINESS DETAILS
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Line of Business : |
The company is engaged in dealing in Soyabean, Mustard,
Coconut and Vegetable Deoiled Cakes & Seeds and process of above or any
other products which is or may be manufactured there from. |
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Products : |
Soyabean, Mustard, Coconut and Vegetable Deoiled Cakes
& Seeds. |
GENERAL
INFORMATION
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No. of Employees : |
300 |
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Bankers : |
v Oriental Bank of Commerce, Haldwani, Uttar Pradesh, India v Bareilly Corporation Bank Limited, Rudrapur, Uttar Pradesh, India v Bank of Baroda, Anaj Galla Mandi, Rudrapur, Uttaranchal, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
N. Sharda &Associates Chartered Accountants |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1500000 |
Equity Shares |
Rs. 100/- each |
Rs. 150.000
Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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180320 |
Equity Shares |
Rs. 100/- each |
Rs. 18.032 Millions |
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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18032.000 |
18032.000 |
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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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127342.506 |
126911.782 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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145374.506 |
144943.782 |
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LOAN FUNDS |
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1] Secured Loans |
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40139.768 |
74692.844 |
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2] Unsecured Loans |
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49154.879 |
55198.363 |
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TOTAL BORROWING |
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89294.647 |
129891.207 |
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DEFERRED TAX LIABILITIES |
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3313.042 |
4160.417 |
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TOTAL |
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237982.195 |
278995.406 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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79322.006 |
79084.895 |
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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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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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120285.099 |
127413.643 |
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Sundry Debtors |
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18989.355 |
66346.641 |
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Cash & Bank Balances |
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13117.675 |
9780.169 |
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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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37508.646 |
40310.360 |
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Total
Current Assets |
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189900.775 |
243850.813 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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31268.528 |
44003.166 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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31268.528 |
44003.166 |
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Net Current Assets |
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158632.247 |
199847.647 |
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MISCELLANEOUS EXPENSES |
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27.942 |
62.864 |
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TOTAL |
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237982.195 |
278995.406 |
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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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Debt Equity Ratio (Total Liability/Networth) |
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0.82 |
1.19 |
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Current Ratio (Current Asset/Current Liability) |
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6.07 |
5.54 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
Bankers Charges
Report as per Registry
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This form is for |
Modification of
charge |
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Charge
identification number of the charge to be modified |
90281312 |
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Corporate
identity number of the company |
U15142UR1994PTC016109 |
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Name of the
company |
SHEELCHAND AGROILS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
Bareilly Road, Haldwani, Dist. Nainital – 263 139, Uttar Pradesh, India |
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Type of charge |
Immovable
property, Book debts, Movable property ( not being pledge), Hypothecation of
stock of all kinds of stock, plant and machinery and vehicles |
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Particular of
charge holder |
Bank of Baroda Anaj Galla Mandi,
Rudrapur, Uttaranchal, India |
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Nature of
description of the instrument creating or modifying the charge |
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Date of
instrument Creating the charge |
26.12.2006 |
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Amount secured by
the charge |
Rs. 260.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
Terms of repayment Terms and
conditions as contained in the principle agreement shall continue to apply
and subsist and be operative in all respects and shall be security for the
various credit facilities agreegating Rs. 260.000 Millions. Term Loan is
repayable in 20 equal quarterly installments commencing from after 6 months
of commercial production of new unit or from 1st October,2007,
Whichever is earlier. Working capital
facility payable on demand. Margin 25% on the stock 25% on the book
debts 25% on movable
Machinery 50% on Building 20% Cash margin
in respect of FLC (DA 90 days) Facility. Extent operation of the charge
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Short particulars
of the property charged |
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Date of latest
modification prior to the present modification |
14.06.2004 |
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Particulars of
the present modification |
The charge
modified and increased to Rs. 260.000 Millions, Interalia securing cash
credit ( HOS/ HOBD/FLC) Limit Rs. 180.000 Millions, Term Loan Rs. 70.000
Millions, Bank Guarantee Rs. 10.000 Millions |
HISTORY
The company was incorporated on 14th February, 1994 at Nainital in Uttar Pradesh having Company Registration No. 16109.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 39.68 |
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UK Pound |
1 |
Rs. 82.11 |
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Euro |
1 |
Rs. 58.81 |
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 |
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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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
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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. |
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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