MIRA
INFORM REPORT
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Report Date : |
22.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
AGROCEL INDUSTRIES LIMITED |
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Registered Office : |
4th Floor,
Doctor House, Lotus Colony, Opposite G. K. General Hospital, Bhuj
(Kutch)-370001, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
16.01.1985 |
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Com. Reg. No.: |
04-7569 |
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CIN No.: [Company
Identification No.] |
U24210GJ1985PLC007569 |
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IEC No.: |
2088000739 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RKTA01170B |
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PAN No.: [Permanent
Account No.] |
AACCA7205J |
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Legal Form : |
Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturer and Seller of Marine Chemicals and Agro
Chemicals and Trader Seeds, Fertilizers, PVC Pipes T-shirts and others. |
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 290000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having satisfactory
track. Directors are reported as
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. |
INFORMATION PARTED
BY
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Name : |
Mr. Rituraj Ahintya |
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Designation : |
Manager – Commercial |
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Contact No.: |
91-22-28721862 |
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Date : |
15.04.2008 |
LOCATIONS
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Registered Office : |
4th
Floor, Doctor House, Lotus Colony, Opposite G. K. General Hospital, Bhuj (Kutch)-370001,
Gujarat, India |
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Tel. No.: |
91-2832-253429 |
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Fax No.: |
91-2832-251429 |
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E-Mail : |
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Website : |
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Area : |
3000 sq. ft |
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Location : |
Owned – by Company |
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Corporate Office : |
Plot No. B5, Gaiwadi Industrial Estate, S. V. Road, Goregaon (West),
Mumbai -400 062, Maharashtra, India |
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Tel. No.: |
91-22-28721862/28766032 |
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Fax No.: |
91-22-28766032 |
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E-Mail : |
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Area : |
2000 sq. ft. [Rented] |
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Factory 1 : |
Greater Rann of Kutch, Near Village Dhordo, Taluka Bhuj,
Kutch, Gujarat State, India |
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Tel. No.: |
91-2803-288310/266082 |
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Mobile No.: |
91-9426731550 |
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Area : |
28000 Acres |
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Location : |
Owned by Company |
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Factory 2 : |
Village – Avania bhavnagar [Under Construction] |
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Tel. No.: |
91-278 -2882483 / 84 |
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Fax No.: |
91-278 -2882485 |
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Area : |
17 Acres |
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Location : |
Owned by Company |
DIRECTORS
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Name : |
Mr. Prafulbhai.M. Saraiya |
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Designation : |
Directors |
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Address : |
4, View Villa, 425, Sharaddhanand Road, Matunga (C.R.) Mumbai 400019 |
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Date of Birth/Age : |
8th December, 1942 |
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Date of Appointment : |
28th December, 2000 |
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Name : |
Smt. Usha A. Shroff |
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Designation : |
Directors |
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Address : |
B – 15, Vasanta Theosophical Society, Juhu Road, Juhu, Mumbai 400049 |
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Date of Birth/Age : |
17th July, 1947 |
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Date of Appointment : |
26th June, 1996 |
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Name : |
Mr. Dipesh K Shorff |
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Designation : |
Directors |
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Address : |
Sanket, 39 Hatkesh Society, 6th
N.S. Road, JVPD Scheme, Vile Parle (West ) Mumbai 400056 |
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Date of Birth/Age : |
3rd February, 1960 |
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Date of Appointment : |
26th June, 1996 |
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Name : |
Mr. Gohil Manoj Dhanshukhbhai |
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Designation : |
Directors |
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Address : |
Godavari Niwas, 15 Ambica Society, Bhuj, Kutch 3700001 |
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Date of Birth/Age : |
19th July, 1958 |
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Date of Appointment : |
26th June, 1996 |
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Name : |
Dr. Rajendra Prahlad Choudhari |
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Designation : |
Directors |
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Address : |
41 / B, Sukhada CHS., 4th Floor, Pandurang wadi, 4th Road, Goregaon (East) Mumbai 400063 |
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Date of Birth/Age : |
23.11.1959 |
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Date of Appointment : |
26.12.2002 |
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Name : |
Mr. Vinayak Bhajibhai Buch IAS |
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Designation : |
Director |
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Address : |
‘Jhankar ‘ Plot No. 139, Sector No 8 , Gandhinagar 3822043 |
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Date of Birth/Age : |
21st February, 1940 |
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Date of Appointment : |
26th June, 1998 |
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Name : |
Mr. Jagdish Ramanlal Naik |
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Designation : |
Directors |
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Address : |
6 , Padma , S. V. Road Vile Parle (West ) Mumbai 400056 |
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Date of Birth/Age : |
23.09.1958 |
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Date of Appointment : |
26.06.1996 |
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Name : |
Mr. Rajnikant Mohanlal Patel |
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Designation : |
Director |
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Date of Birth/Age : |
25.12.1952 |
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Date of Appointment : |
20.01.2004 |
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Date of Ceasing : |
29.12.2004 |
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Name : |
Mr. Satishchandra Shrivastav |
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Designation : |
Director |
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Address : |
A – 1, Satyam Flats, Near Gujarat College, Ellisbridge, Ahmedabad –
380006, Gujarat, India |
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Date of Birth/Age : |
28.10.1956 |
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Date of Appointment : |
07.08.2005 |
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Name : |
Mr. Babulal Gupta |
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Designation : |
Director |
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Address : |
F – 1, Siddhant Apartments, Navrangpura, Ahmedabad – 380009, Gujarat,
India |
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Date of Birth/Age : |
05.05.1948 |
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Date of Appointment : |
26.06.1996 |
KEY EXECUTIVES
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Name : |
Mr. Raval Janakrai Dhanwamtrai |
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Designation : |
Company Secretary |
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Date of Birth/Age : |
14.11.1953 |
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Date of Appointment : |
28.08.2000 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 17.09.2005
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Names of Shareholders |
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No. of Shares |
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Transpek Industries Limited |
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10000 |
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Transmetal Limited |
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12500 |
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Manoj D Gohil / Anjuben Gohil |
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1250 |
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Anjuben Gohil / Manoj D Gohil |
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1250 |
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Praful Saraiya / Chetana Saraiya |
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1100 |
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Hrishit A Shroff / Ashwin Shroff / Usha A Shroff |
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1700 |
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Ravi Ashwin Shroff |
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3000 |
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Ashwin C Shroff / Usha A Shroff |
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2000 |
As on 30.09.2007
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Category |
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Percentage of
Holding |
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Bodies Corporate |
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47.00 |
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Directors or relatives of directors |
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44.00 |
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Other top Fifty shareholders |
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9.00 |
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TOTAL |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Seller of Marine Chemicals and Agro Chemicals
and Trader Seeds, Fertilizers, PVC Pipes T-shirts and others. |
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Products : |
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Exports : |
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Products : |
All products |
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Countries : |
Europe, Far East Asia, USA |
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Imports : |
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Products : |
Solvents & Alkalies |
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Countries : |
China, Far East Asia, Europe [Sometimes] |
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Terms : |
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Selling : |
L/C Credit [90 Days], D/A,
D/P, Advance |
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Purchasing : |
L/C Credit [60-90 Days], D/A [60-90 days] |
PRODUCTION STATUS
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Particulars |
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Installed
Capacity |
Actual
Production |
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Bromine |
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3000 MT |
2500 MT |
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Bromine Compounds |
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400 MT |
300MT |
GENERAL
INFORMATION
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No. of Employees : |
Around 250 |
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Bankers : |
Ø Bank of Baroda Ø HDFC Bank Limited, Bhuj Branch Ø Kutch Gramin Bank, Bhuj Branch Ø Bank of India, Main Branch, Bhuj Branch, Swaminarayan Commercial Complex, Hospital Road, Darbargadh, Prag Mahal, Bhuj - 370001, Gujarat, India Ø State
Bank of India, Jogeshwari [West] Branch Ø ICICI Bank Limited, Landmark race Course Circle, Alkapuri, Baroda – 390015, Gujarat, India |
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Facilities : |
From Bank of India :
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Madhusudan C. Mashruwala and Company Chartered Accountants |
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Address : |
301-30, “Akik”, Opposite Lions Hall, Mithakhali,
Ahmedabad-380006, Gujarat, India |
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Tel. No.: |
91-79-26462430/26467183 |
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Associates: |
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CAPITAL STRUCTURE
As on 30.09.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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300000 |
Equity Shares |
Rs. 100/- each |
Rs. 30.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs. 100/- each |
Rs. 25.000
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 |
25.000 |
25.000 |
25.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
47.887 |
41.751 |
40.419 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
72.887 |
66.751 |
65.419 |
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LOAN FUNDS |
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1] Secured Loans |
61.228 |
32.397 |
22.507 |
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2] Unsecured Loans |
72.929 |
73.547 |
52.634 |
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TOTAL BORROWING |
134.157 |
105.944 |
75.141 |
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DEFERRED TAX LIABILITIES |
24.600 |
21.729 |
19.203 |
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TOTAL |
231.644 |
194.424 |
159.763 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
164.653 |
140.998 |
105.764 |
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Capital work-in-progress |
20.639 |
29.804 |
14.510 |
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INVESTMENT |
15.345 |
15.385 |
0.664 |
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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 |
74.620
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68.953 |
46.422 |
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Sundry Debtors |
68.673
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44.510 |
95.962 |
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Cash & Bank Balances |
20.599
|
7.445 |
1.998 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
25.520
|
23.370 |
9.973 |
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Total
Current Assets |
189.412
|
144.278 |
154.355 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
148.451
|
132.197 |
109.229 |
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Provisions |
9.954
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3.844 |
6.301 |
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Total
Current Liabilities |
158.405
|
136.041 |
115.530 |
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Net Current Assets |
31.007
|
8.237 |
38.825 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
231.644 |
194.424 |
159.763 |
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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 |
449.730 |
327.368 |
334.721 |
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Other Income |
23.642 |
9.106 |
1.082 |
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Total Income |
473.372 |
336.474 |
335.803 |
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Profit/(Loss) Before Tax |
15.549 |
4.672 |
14.256 |
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Provision for Taxation |
0.000 |
3.340 |
5.784 |
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Profit/(Loss) After Tax |
15.549 |
1.332 |
8.472 |
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Earnings in Foreign Currency : |
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Total Earnings |
NA |
121.720 |
87.796 |
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Imports : |
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Total Imports |
NA |
32.468 |
32.581 |
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Expenditures : |
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Interest |
12.698 |
7.999 |
6.056 |
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Depreciation & Amortization |
10.328 |
8.163 |
6.133 |
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Other Expenditure |
434.798 |
315.640 |
309.357 |
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Total Expenditure |
457.824 |
331.802 |
321.546 |
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Expected Sales (2008-0) : Rs.670.000 Millions
KEY RATIOS
|
PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
3.28
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0.40 |
2.52 |
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Net Profit Margin (PBT/Sales) |
(%) |
3.46
|
1.43 |
4.26 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.39
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1.64 |
5.48 |
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Return on Investment (ROI) (PBT/Networth) |
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0.21
|
0.07 |
0.22 |
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Debt Equity Ratio (Total Liability/Networth) |
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4.01
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3.63 |
2.91 |
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Current Ratio (Current Asset/Current Liability) |
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1.20
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1.06 |
1.34 |
LOCAL AGENCY
FURTHER INFORMATION
HISTORY:
Subject was incorporated on 16th January, 1985 at Ahmedabad in Gujarat having Company Registration Number 04-7569.
Subject was incorporated on 16th January, 1985 with the name of Agrocel Pesticides Limited. The name was changed to the present from 22nd February, 1999.
Subject registered office was shifted from Khet Udhyog Bhavan, Opp. High Court Navrangpura, Ahmedabad-380014, Gujarat India to Sanyukta Society, Gayatri Mandir Road, Bhuj-370001, Gujarat, India on 16th January, 1985. Again subject’s address changed to 4th Floor Doctor House, Lotus Colony, Opp General Hospital, Bhuj (Kutch)-370001, Gujarat, India on 25th March, 1998.
Trade References:
- Mr. Kumar Inamar , MD Bilag Industries Private Limited Vapi
- Mr. Veersingh Raje Shosle VP _Export Punjab Chemicals & Corp. protection
Limited
- Mr. Sandeep Tambe , Sr. Managae (Pur) , Lupin Limited Mumbai
FIXED ASSETS :
- Land
- Building
- Plant and Machinery
- Furniture, Fixture and Equipments
- Vehicles
Bankers Charges
Report as per Registry
|
Name of the company |
AGROCEL
INDUSTRIES LIMITED |
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Presented By |
Mr. Gohil
Manoj Dhanshukhbhai, Executive Director |
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1) Date and description of instrument creating the change |
24.09.2005 Agreement of
hypothecation of Plant and Machinery, Stock and Book debts |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 37.500
Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
All tangible
movable machineries and plant, both present and future installed or not,
whether lying loose or in cases at site or in transit and all tangible
movable properties assets and stocks whatsoever of borrower both present and
future i.e. raw materials, finished goods, semi finished goods, parts,
components stock in process wharsoever of marine Chemicals div and all the
present and future book dents, outstanding money receivable, claims, bills
due and owing to the borrower covering inter flexible limits in respect of
Cash Credit against stock Rs. 15.000 Millions, against book debts Rs. 10.000
Millions, Export packing Credit Rs. 10.000 Millions, IBP / IRN / DP / DA 120
days Rs. 10.000 Millions within over all fund based limits fo Rs. 25.000
Millions and Non fund Based limits in respect of bank guarantee of Rs. 7.500
Millions and letter of credit DP / DA 120 days of Rs. 5.000 millions making
total non fund based limits of Rs. 12.500 Millions and aggregate all the
limits to Rs. 37.500 Millions |
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4) Gist of the terms and conditions and extent and operation of the charge. |
ROI : 11.75 %
p.a. Margin : 25 % on
Stock + 0 % on Book debts and for other limits as per extent guidelines of
RBI / FEDAI / Bank Repayment : on Demand
|
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5) Name and Address and description of the person entitled to the charge. |
Bank of India, Main Branch, Bhuj Branch, Swaminarayan Commercial Complex, Hospital Road, Darbargadh, Prag Mahal, Bhuj - 370001, Gujarat, India |
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6) Date and brief description of instrument modifying the charge |
Not Applicable |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Applicable |
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Corporation identity number or foreign company registrations number
of the company |
U24210GJ1985PLC007569 |
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Name of the company |
AGROCEL INDUSTRIES LIMITED |
|
Address |
Khet Udyog Bhawan Opposite High court, Navrangpura, Ahmedabad,
Gujarat, India |
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This Form is for |
Creation of charge |
|
Type of Charges |
Equitable mortgage or mortgage of property by depositing the title
deeds |
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Particular of the charge holder
|
ICICI Bank Limited Landmarkrace Cource Circle Alkapuri, Baroda – 390015, Gujarat, India |
|
Nature or description of the instrument creating charge |
Memorandum of entry for deposit of deeds of mortgage created by the company
in favour of ICICI Bank Limited in respect of the companies immovable
property admeasuring 35.75 sq mtrs situated at Sangli |
|
Date of instrument creating charge |
19.04.2006 |
|
Amount Secure by the charge |
Rs. 0.620 million |
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Description of the property charge whether it is a charge on |
Immovable Properties |
|
Particulars of property charged |
Agrocel Industries Limited “Ghjeware Icon” 302 Shop No 4 ST Stand
Road Gaon Bhag, Sangli 416416, Maharashtra, India |
WEBSITE DETAILS
PROFILE
Agrocel is a closely held limited company having 89% stake of Shroff
Family and 11% stake of Gujarat Agro Industries (Gujarat Government
Enterprise).
Shroff Group of Companies include: Excel Industries Limited, Excel Crop Care Limited,
Transpek Industries Limited, Trans Metal Industries, Hyderabad Chemicals
Limited, Punjab Chemicals Limited, Parul Industries and Shroff Engineering.
Shroff Group is well known for manufacturing chemicals with complicated
chemistry by innovative ideas and with in-house R & D.
Agrocel Industries operates through it's two divisions:
● Agriculture Service Division
● Marine Chemicals Division
Underlying Principles:
● Extracting advantage out of difficult situation.
● Local employments
● Nurturing remotely located border districts of India
● Achieving outstanding performance from local human resources
● Creative organization
● Simplicity + low overheads = turnover management
● Beyond logic project
● Flat structured organization
● Social responsibility
● Goodwill of the people
● Using group dynamics as a tool and with common clarity, common
goal and common direction, a dedicated team of 250 will undertake new
challenges.
● Dynamic Board members / Stock holders.
Human Resources:
● Working University
● Each individual has a dynamic potential.
● Education system creates subject focused expertise. Agrocel
converts that to multifaceted versatility.
● Agrocel trains people who are deprived of formal education to
operative expertise in their chosen fields.
● Flat organizational structure enables Agrocel to build up a
homogenous strong team.
● Team work is the key to Agrocel's success.
● Low manpower turn over.
● Fair Trade practices reaps loyalty.
Associations and Alliances
Agrocel has many linkages with NGO’s, to ensure a total impact on improved
livelihood in the areas:
NGO Work Field
Shroff Foundation Provides employment in embroidery by hand. Also runs programs in water shed,
health, animal husbandry and agriculture.
CC Shroffs self help center Provides employment to families from city slum areas, by value addition in textiles
and gift articles.
Shrujan Trains and provides an occupation for 3000 women in embroidery by hand and
stitching.
Vivekanand Research and
Training Institute Researches and trains to improve farmer areas with programs in water
management, water harvesting, children education, employment generation and
animal husbandry.
VGS Trains and provides an occupation in batik, hand printing and block printing for
500 families.
To keep track of the latest developments Agrocel has good contacts and links with government, research and educational institutes, sharing knowledge and expertise:
- Agricultural Universities
- Central Cotton Research institute
- ICRISAT (International Crop Research Institute for Semi Arid Tropics)
- Manage (National Institute of Agricultural Extension Management)
- NTGCF (National Tree Growing Cooperatives Foundation)
- NDDB (National Dairy Development Board)
- NRCG (National Research Center for Groundnut)
Associated Websites:
www.agrocel-cotton.com
To meet the demand for a reliable Organic and Fairtrade Cotton Fibre, Agrocel Industries
Limited, in conjunction with Vericott Limited and Traidcraft Exchange, have
defined and branded a cotton fibre. Agrocel® Pure & Fair Indian Organic
Cotton.
www.naturally-elegant.com
They provide high quality natural ingredients to the fast growing personal care
and health spa industries through their partner - Naturally Elegant, LLC
www.gossypium.co.uk
UK's leading organic and fairly traded cotton clothes' brand.
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.40.18 |
|
UK Pound |
1 |
Rs.79.25 |
|
Euro |
1 |
Rs.62.90 |
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 |
YES |
|
--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 |
|