MIRA
INFORM REPORT
|
Report Date : |
04.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
BAJORIA FOODS PRIVATE LIMITED |
|
|
|
|
Formerly Known As : |
R. B. Veneers Private
Limited |
|
|
|
|
Registered Office : |
1, British India Street, Ground Floor, Room No.3, Kolkata – 700 069,
West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
26.02.1997 |
|
|
|
|
Com. Reg. No.: |
21-83075 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U20101WB1997PTC083075 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CALR02784F |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCB3447Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Importers of Bakery
Confectionery like Biscuits, Chocolates, all types of Confectionery, Consumer
Goods, House Hold Goods, Foods Products, etc. |
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 15000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and reputed company meeting its normal
commitments timeously. Trade relations are fair. Business is active. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
|
Name : |
Mr. Sanjay Bajoria |
|
Designation : |
Managing Director |
|
Contact No.: |
91-9322216064 |
|
Date : |
01.08.2008 |
LOCATIONS
|
Registered Office : |
1, British India Street, Ground Floor, Room No.3, Kolkata – 700 069,
West Bengal, India |
|
Tel. No.: |
91-33-2102479/2102480 |
|
Fax No.: |
91-33-2484629 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
300 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Corporate Office 1: |
205 Tranquility, Shastri Nagar, Andheri (West), Mumbai – 400 058,
Maharashtra, India |
|
Tel. No.: |
91-22-32907575 |
|
Fax No.: |
91-22-26367199 |
|
|
|
|
Corporate Office 2 : |
571, Adarsh Nagar (Off New Link Road), Andheri (W), Mumbai – 400 058, Maharashtra,
India |
|
Tel. No.: |
91-22-26705686 / 32907575 |
|
Mobile No.: |
91-9322216064 |
|
Fax No.: |
91-22-26707110 / 26367199 |
|
Area : |
800 Sq. ft. |
|
Location : |
Leased |
|
|
|
|
Warehouse : |
93, Dhan Devi Khanna Road,
Kolkatta - 700 054, West Bengal, India |
|
|
|
|
Branch : |
Plot # 6, Shah Industrial
Estate, Veera Desai Road, Andheri (West), Mumbai - 400 053, Maharashtra,
India |
|
|
|
|
Associate
Offices : |
Located at ·
Bangalore ·
Hyderabad ·
New Delhi |
DIRECTORS
|
Name : |
Mr. Sanjay Bajoria |
|
Designation : |
Managing Director |
|
Address : |
P-273, Manicktolla, Main Road, Kolkata – 700 054, West Bengal, India |
|
Date of Birth/Age : |
16.06.1969 |
|
Qualification : |
Graduate |
|
Experience : |
18 Years |
|
Date of Appointment : |
27.02.1997 |
|
Election Commission Identity Card No. : |
WD/22/236/2910 |
|
|
|
|
Name : |
Mrs. Renu Bajoria |
|
Designation : |
Director |
|
Address : |
P-273, Manicktolla, Main Road, Kolkata – 700 054, West Bengal, India |
|
Date of Birth/Age : |
01.10.1972 |
|
Qualification : |
Graduate |
|
Experience : |
12 Years |
|
Date of Appointment : |
27.02.1997 |
|
Election Commission Identity Card No. : |
WD/24/226/2379 |
KEY EXECUTIVES
|
Name : |
Mr. Anand Sharma |
|
Designation : |
Company Secretary |
|
Address : |
32, Ezra Street, Room No. 310, Kolkata – 700 001, West Bengal, India |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
|
Names of Shareholders |
No. of Shares |
|
Sanjay Bajoria |
25100 |
|
Renu Bajoria |
10100 |
|
Rabindra Bajoria |
15000 |
|
Sumit Bajoria |
20000 |
|
Shyam Bajoria |
10000 |
|
Raman Bajoria |
24000 |
|
Maina Bajoria |
10000 |
|
Shiv Kumar Agarwal |
10000 |
|
Penrose Merchantiles Limited |
30000 |
|
Premier finance Services Limited |
70000 |
|
Esquire Impex Private Limited |
20000 |
|
|
|
|
Total |
244200 |
Equity shares Breakup (percentage of total equity)
(As on 30.09.2006)
|
Category |
Percentage |
|
Bodies corporate |
49.00 |
|
Directors or relatives of Director |
47.00 |
|
Other top fifty (50) shareholders |
4.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importers of Bakery
Confectionery like Biscuits, Chocolates, all types of Confectionery, Consumer
Goods, House Hold Goods, Foods Products, etc. |
|
|
|
|
Products : |
·
Mayonnaise, Pea Nut Butter, Microwave Popcorn ·
Mexican Food ·
Honey ·
Aluminium Foil ·
Jelly |
|
|
|
|
Brand Names : |
·
American Garden ·
Casa Fiesta ·
Sue Bee Honey ·
Diamond ·
Hipo Jelly |
|
|
|
|
Agencies Held : |
·
Global Export Marketing Company Limited, American Garden (USA) ·
Bruce Food Corporation, Casa Fiests (USA) ·
Sue Bee Honey (USA) ·
Diamond Foil (USA) ·
Foodvest Industries (M)
Sdn. Bhd., Malaysia ·
Network Foods Sdn. Bhd.,
Malaysia ·
Tatawa Industries (M)
Sdn. Bhd., Malaysia ·
Tien Ming Confectioneries
Sdn. Bhd., Malaysia |
|
|
|
|
Imports : |
|
|
Products : |
Food Products |
|
Countries : |
USA |
|
|
|
|
Terms : |
|
|
Selling : |
Cash |
|
|
|
|
Purchasing : |
Cash and Credit (60 Days) |
GENERAL
INFORMATION
|
Suppliers : |
·
Foodvest Industries (M)
Sdn. Bhd., Malaysia ·
Network Foods Sdn. Bhd.,
Malaysia ·
Tatawa Industries (M)
Sdn. Bhd., Malaysia ·
Tien Ming Confectioneries
Sdn. Bhd., Malaysia |
|
|
|
|
Customers : |
·
Wholesalers ·
Retailers ·
Others ·
Supermarkets ·
Hypermarkets ·
Convenience Stores ·
Specialty/Gourmet Stores ·
HRI/Foodservice |
|
|
|
|
No. of Employees : |
40 (Direct 15 and Indirect 25) |
|
|
|
|
Bankers : |
·
Union Bank of India Canning Street Branch, 6-D, R. N. Mukherjee Road, Kolkata - 700 001, West Bengal, India ·
The United
Western Bank Limited Prarthana Samaj Branch, Mumbai – 400 004, Maharashtra, India ·
IDBI Bank Limited, Girgaon Branch |
|
|
|
|
Facilities : |
Cash Credit Rs.4.000 millions |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
·
Ajay Dhoot and Company Chartered Accountants Address : K-2/1, Vishnu
Mandir, Bangur Nagar, Goregaon (West), Mumbai – 400 090, Maharashtra, India ·
Ajay Shobha & Company Chartered Accountants Address : 5/4, Clive Row, 4th
Floor, Room # 116, Kolkata - 700 001, West Bengal Tel No. 91-33-221 0133 |
|
|
|
|
Associates/Subsidiaries : |
·
Bajoria International Dealers of food / consumer products ·
Priyansha International Dealers of food / consumer products ·
S. R. Enterprises Dealers of food / consumer products |
|
|
|
|
Holding Company : |
Premier finance Services Limited |
|
|
|
|
Parent Company : |
Bajoria Group of Companies |
CAPITAL STRUCTURE
Authorised Capital : (As on 30.09.2006)
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
244200 |
Equity Shares |
Rs.10/- each |
Rs.2.442
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.442 |
2.442 |
2.442 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.551 |
0.274 |
0.187 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2.993 |
2.716 |
2.629 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1.377 |
1.584 |
1.379 |
|
|
2] Unsecured Loans |
0.450 |
0.781 |
0.180 |
|
|
TOTAL BORROWING |
1.827 |
2.365 |
1.559 |
|
|
DEFERRED TAX LIABILITIES |
0.013 |
0.016 |
0.037 |
|
|
|
|
|
|
|
|
TOTAL |
4.833 |
5.097 |
4.225 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.146 |
0.163 |
0.202 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2.973
|
2.540 |
1.711 |
|
|
Sundry Debtors |
2.464
|
2.885 |
2.445 |
|
|
Cash & Bank Balances |
0.075
|
0.099 |
0.278 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
1.161
|
0.809 |
0.877 |
|
Total
Current Assets |
6.673
|
6.333 |
5.311 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
1.741
|
1.314 |
1.244 |
|
|
Provisions |
0.245
|
0.086 |
0.047 |
|
Total
Current Liabilities |
1.986
|
1.400 |
1.291 |
|
|
Net Current Assets |
4.687
|
4.933 |
4.020 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.001 |
0.003 |
|
|
|
|
|
|
|
|
TOTAL |
4.833 |
5.097 |
4.225 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
19.030 |
10.666 |
5.326 |
|
|
Other Income |
0.301 |
0.005 |
0.166 |
|
|
Total Income |
19.331 |
10.671 |
5.492 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
0.519 |
0.147 |
NA |
|
|
Provision for Taxation |
0.242 |
0.060 |
NA |
|
|
Profit/(Loss) After Tax |
0.277 |
0.087 |
0.032 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Financial charges |
0.000 |
0.000 |
0.219 |
|
|
Administrative Expenses |
4.756 |
3.022 |
0.000 |
|
|
Purchases made for re-sale |
13.665 |
7.279 |
0.000 |
|
|
Increase/(Decrease) in Finished Goods |
(0.433) |
(0.829) |
(0.500) |
|
|
Preliminary and Pre-operative expenses
written off |
0.002 |
0.002 |
0.000 |
|
|
Bad Debts |
0.778 |
0.999 |
0.000 |
|
|
Depreciation & Amortization |
0.044 |
0.051 |
0.000 |
|
|
Other Expenditure |
0.000 |
0.000 |
5.773 |
|
Total Expenditure |
18.812 |
10.524 |
5.492 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
1.43
|
0.82 |
0.58 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.73
|
1.38 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.61
|
2.26 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.05 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.27
|
1.39 |
1.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.36
|
4.52 |
4.11 |
LOCAL AGENCY
FURTHER INFORMATION
History
The company was
incorporated on 26th February, 1997 as R. B. Veneers Private Limited
having Company Registration Number 83075.
The name of the company was changed to present with effect from 13th
April, 2000.
Trade References :
·
Reliance Retail
·
Hyper City Retail India Limited
·
Food bazaar
·
Metro Cash and Carry
Form No. 8
|
Name of the company |
BAJORIA FOODS PRIVATE LIMITED |
|
Presented By |
The United Western
Bank Limited, Prarthana Samaj Branch, Mumbai. |
|
1) Date and description of instrument creating the change |
Agreement of
Hypothecation Dated : 18.09.2002 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.0.500 million |
|
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
stock of consumer products of Jelly and Buble gums etc. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest @ 15.00%
p.a. Security to cover
principal amount together with interest, costs, charges and expenses etc. |
|
5) Name and Address and description of the person entitled to the charge. |
The United
Western Bank Limited Prarthana Samaj
Branch, Mumbai – 400 004, Maharashtra, India |
|
6) Date and brief description of instrument modifying the charge |
Hypothecation
Agreement Dated 15.02.2005 |
|
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. |
Vide
Hypothecation Agreement Dated 15.02.2005 the cash credit facility was enhanced
by Rs.0.500 million. Thus the total operation of the charge now modified for
a sum upto Rs.1.500 millions. |
Web Details
Comments
Subject has a strong presence in South and Western Indian markets. The company also
supplies to other regions including New Delhi, Kolkata, and Ahmedabad. Examples of current ]
U.S. brands being imported include American Garden, Casa Fiesta, and Sue Bee Honey. Ina
addition to the above categories, the buyer would like to meet with suppliers of sugar-free cookies.
Annual Sales: $200 Million
Total Imports: $1.5 Million U.S. Imports: $1 Million
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 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.42.37 |
|
UK Pound |
1 |
Rs.84.01 |
|
Euro |
1 |
Rs.65.96 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
|
45 |
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. |
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 |
|