MIRA
INFORM REPORT
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Report Date : |
29.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
NATIONAL AGRO INDUSTRIES |
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Registered Office : |
Link Road Industrial Area, A Opp. Transport Nagar, Ludhiyana – 141003,
Punjab. |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1978 |
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IEC No.: |
3002008991 |
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PAN No.: [Permanent
Account No.] |
AAAFN8976E |
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Legal Form : |
A Partnership Concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturer and Exporter of Agricultural implements like Axiual Flow Vegetable
Feed Machines, Maize Shellers, Ridge Planters and Rotavator etc. |
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 25000 |
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Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established concern having satisfactory track. Trade
relations are fair. Payments are usually correct and as per commitments. The concern can be considered good for normal business dealings at
usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Rajdeep Singh |
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Designation : |
Son of Mr. Manmohan Singh (Partner) |
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Date : |
18.08.2008 |
LOCATIONS
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Registered Office : |
Link Road Industrial Area, A Opp. Transport Nagar, Ludhiyana – 141003,
Punjab, India |
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Tel. No.: |
91-161-2222041 / 5087853 |
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Mobile No.: |
91-9815064000 |
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Fax No.: |
91-161-2220299 |
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E-Mail : |
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Website : |
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Area : |
2000 and 5000 sq yard |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Manmohan Singh |
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Designation : |
Partner |
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Date of Birth/Age : |
50 Years |
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Qualification : |
Graduate |
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Experience : |
30 Years |
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Name : |
Mr. Sukh Sohan Singh |
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Designation : |
Partner |
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Date of Birth/Age : |
47 Years |
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Qualification : |
Graduate |
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Experience : |
27 Years |
KEY EXECUTIVES
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Name : |
Mr. Rajdeep Singh |
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Designation : |
Export Manager |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Agricultural implements like Axiual Flow
Vegetable Feed Machines, Maize Shellers, Ridge Planters and Rotavator
etc. |
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Products : |
· Axiual Flow
Vegetable Feed Machines · Maize Shellers · Ridge Planters · Rotavator · Zero Till Seed
Drill · Zero Till Maize
/ Multi Corp Planter · Seed Drill · National
Aluminium Fluted Rollers Assembly |
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Exports : |
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Products : |
Agriculture Implement |
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Countries : |
Sri Lanka, Thailand, Nigeria, Neitherlandusa, UK, Australia, New
Zeland, Kenya, Nepal, Bukina Faso, IRRI in Philippines, UNDP project and
CIMMYT Mexico. |
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Terms : |
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Selling : |
Cash and Credit (30 Days) |
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Purchasing : |
Cash and Credit (30 Days) |
PRODUCTION STATUS
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Particulars |
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Actual
Production |
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Production |
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As per demand |
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
68 (Office – 10 and Factory - 58) |
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Bankers : |
HDFC Bank, Ludhiana |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Rajiv Singla and Association Chartered Accountant |
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Address : |
Ludhiana |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.5.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs.5.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
SUMMARISED RESULTS (Balance Sheet)
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PARTICULARS |
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31.03.2008 |
31.03.2007 |
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Proprietor’s Capital |
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5.000 |
4.700 |
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Fixed Assets [Net Block] |
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23.600 |
22.800 |
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Current Assets, Loans & Advances |
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Inventories |
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11.290 |
11.600 |
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Cash & Bank Balances |
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1.246 |
1.115 |
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Current
Liabilities & Provisions |
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Current
Liabilities |
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33.600 |
29.300 |
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Miscellanies Expenses |
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0.280 |
0.105 |
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PROFIT & LOSS ACCOUNT
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PARTICULARS |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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40.000 |
36.500 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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40.000 |
36.500 |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference
· World Bank
· Cimmyt Mexico
· Punjab Agricultural University – Ludhiyana
· GB Pant University Agricultural – Pant Nagar
· University of Sask Canada
Trustseal Acceptance
Chart
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Existence Verification |
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Name |
NATIONAL AGRO INDUSTRIES |
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Address |
Link Road Industrial Area, A Opp. Transport Nagar, Ludhiyana – 141003,
Punjab, India |
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2nd address |
Link Road Industrial Area, A Opp. Transport Nagar, Ludhiyana – 141003,
Punjab, India |
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Phone Numbers |
91-161-2222041 / 5087853 |
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Mob No. |
91-9815064000 |
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Fax Numbers |
91-161-2220299 |
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Electricity Bill |
Electricity bill in the name of company manufacturer and exporter of
Agricultural implements |
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Statutory Approvals |
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Legal Status of Firm |
Partnership Mr. Manmohan Singh Aged 50 Years Mr. Sukh Sohan Singh Aged 47 Years |
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Income Tax Registration |
AAAFN8976E |
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Service Tax Registration |
NA |
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VAT/ TIN Registration |
NA |
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Import Export Code |
3002008991 |
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Name of Bank |
HBFC Bank, Ludhiyana |
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Emp PF Reg Number |
ND |
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Company ESI Reg. Number |
ND |
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RBI Code Number |
AAAFN8976E |
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Credibility Factors |
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IndiaMART Client Since |
New Member |
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Years of Establishment |
1978 |
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Turn Over |
2008 – Rs.40.000 Millions, 2007 – Rs.35.000 Millions |
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Trade Affiliations |
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SSI Registration |
Nil |
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Export Promotion Council |
Engg. Export Promotion Council |
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D&B D-U-N-S Number |
Nil |
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Govt. Recognised Export House Status |
Nil |
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Standards & Certifications |
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Quality Management Systems |
Yes maintaining full quality control |
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Environment Management Systems |
Nil |
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Safety Certificates |
Yes maintaining full quality control |
Web Details Attached
Subject is a partnership firm. Mr. Sukhdev Singh, Mr. Man Mohan Singh and Mr. Sukh Sohan Singh are the partners.
Their firm has been in the manufacturing business of Seed-cum-fertilizer Drills since 1970. Their Managing Partner S. Sukhdev Singh has long-standing valuable hands on experience of 50 yrs in this industry to his credit. They are pioneer manufacturer of Seed Drills in India. Time to time they consult experts of Punjab Agricultural University, G.B Pant University of Agriculture and Technology, H.A.U Hissar, Rice wheat Consortium (RWC) and International Maize Wheat Improvement Center (CIMMYT) for their valuable advice.
Achievements
· Award from ICAR, RWC (Cimmyt) and HAU for Excellent contribution in Design and Development of Zero Till Ferti Seed Drill in India.
· ISO 9001:2000 Certification.
They are the members
of the following organizations:-
· Bureau of Indian Standards (B.I.S. formerly I.S.I)
· Indian Society of Agricultural Engineers (ISAE) Corporate Membership.
· Engineering Export Promotion Council (EEPC).
EXPORTS:-
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UNDP Projects |
IRRI in Philippines |
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World Bank |
Burkina Faso |
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CIMMYT, Mexico. |
Nigeria |
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ICRISAT |
Nepal |
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ICAR |
USA |
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Vietnam |
Kenya |
The major product of their Company is National Zero Till Seed-Cum-Fertilizer Drills. They manufacture more than 800 drills in every sowing season. About the manufacturing process, all the parts are produced on Jigs, Fixtures and Dies. Means giving the parts accuracy and inter changeability. The company uses all the modern manufacturing process like Mig welding, Break Press and Pneumatic tools for the production of Agricultural Implements. Fresh Agriculture Engineer and Students from different Universities come to them for training.
They sell their products in India through their dealer network and also directly to Agricultural Universities, Government departments, Agencies and Seed growers and directly to the farmers and International Organizations.
ABOUT NATIONAL ZERO TILL FERTI-SEED DRILL: -
Subject are the first innovator and manufacturer of Zero Till Ferti-Seed Drill in India. They started the manufacturing of National Zero Till Seed Drills in 1994 with the kind co-operation and guidance of G.B. Pant Univ. Of Agriculture and Technology, Pant Nagar (Uttaranchal). Till now they have manufactured about 4500 National Zero Till Ferti-Seed Drills.
This machine has
been tested and approved by following testing centers:
· NORTHERN REGION FARM MACHINERY TESTING CENTER, HISSAR (H.R.) Govt. of India.
· PUNJAB AGRICULTURAL UNIVERSITY, LUDHIANA.
· G.B. PANT UNIVERSITY OF AGRICULTURE AND TECHNOLOGY, PANT NAGAR.
During the sowing season they visit fields to see the actual
performance and to know the views of users of National Zero Till Ferti-Seed Drill.
Experts and
Scientists from:-
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Dr Norman N. Barlog (Nobel Prize winner) |
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Univ. of Sask. CANADA. |
CIMMYT, MEXICO. |
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Cornell Univ. U.S.A. |
Univ .of Melbourne AUSTRALIA. |
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NEW ZEALAND. |
UNO |
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ARGENTINA. |
World Bank |
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IRRI, PHILLIPINES |
ARGENTINA |
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ACIAR-AUSTRALIA |
China |
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C.S.I.R.O. - AUSTRALIA |
PAKISTAN |
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Asian Inst. of Tech. THILAND |
MOROCCO |
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INDONESIA |
BOTSWANA |
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SOUTH VIETNAM |
ALGERIA |
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Univ. of Adelaide, AUSTRALIA |
NEPAL |
and all over India has visited their factory to see the manufacturing of National Zero Till Ferti-Seed Drill and they have really appreciated the quality and process of manufacturing. The Deputy Director General (Engg.) of Indian Council of Agricultural Research (ICAR) have also visited their factory, as mentioned above ICAR, CIMMYT, RWC and HAU have jointly give them AWARD for Excellent contribution of Subject for design and development of Zero Till Drill in India.
Regarding further development of their National Zero Till Ferti-Seed Drill they have visited E.I.M.A., ITALY (in year 1998, 1999, 2000.) and Toowoomba Farm Machinery Festival, AUSTRALIA (2001).
They display their National Zero Till Ferti-Seed Drill and other products at agricultural exhibitions, farmer fairs at district, state and university levels also in International Trade fairs at Pargati Maidan New Delhi.
After seeing the performance of National Zero Till Ferti-Seed Drill, the Dept. Of Agriculture of Punjab and Haryana, U.P and Uttranchal states has provided the subsidy on this machine.
They promote the Zero Tillage technology with their products
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.43.73 |
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UK Pound |
1 |
Rs.80.31 |
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Euro |
1 |
Rs.64.61 |
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 |
YES |
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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 |
|
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 |
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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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