MIRA
INFORM REPORT
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Report Date : |
18.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
NURTURE AQUA TECHNOLOGY PRIVATE LIMITED |
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Registered Office : |
G-1, Shobha Sagar, 21st Road, Plot No. 592, TPS III, Bandra, Mumbai –
400050, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2004 |
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Date of Incorporation : |
07.11.2001 |
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Com. Reg. No.: |
11-133894 |
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CIN No.: [Company
Identification No.] |
U05000MH2001PTC133894 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMN12851G |
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PAN No.: [Permanent
Account No.] |
AABCN4556C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importer, Exporter and Dealing in Aqua Culture Feed |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Poor |
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Payment Behaviour : |
Unknown |
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Comments : |
Subject is a 7 years old company but has not filed any financials with
the Government departments till date. We could manage partial financials as
of 31.03.2004 from indirect sources. Mr. Sandeep, accountant of the company
declined to part with any details despite several follow – ups. No further
details could be made available. In view of the above, the company can be considered for any business
dealings on fully safe and secured terms only. |
LOCATIONS
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Registered/Branch Office : |
G-1, Shobha Sagar, 21st Road, Plot No. 592, TPS III, Bandra, Mumbai –
400050, Maharashtra |
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Tel. No.: |
91-22-26495128 |
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Fax No.: |
91-22-26049387 |
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E-Mail : |
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Website : |
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Head Office : |
53/41 Ramjas Road, Karol Bagh, New Delhi – 110005 |
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Tel. No.: |
91-11-25712053/25722984 |
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Fax No.: |
91-11-25760697 |
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E-Mail : |
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Branches : |
7/4, 48th Street, 9th Avenue, 1st
Floor, Ashok Nagar, Chennai – 600083 , Tamilnadu |
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Tel. No.: |
91-44-23717441 |
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Fax No.: |
91-44-24893134 |
DIRECTORS
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Name : |
Mr. Varsha Handa |
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Designation : |
Director |
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Address : |
53/41 Ramjas Road, Karol Bagh, New Delhi – 110005 |
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Date of Birth/Age : |
23.02.1947 |
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Date of Appointment : |
07.11.2001 |
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Name : |
Ms. Geeta Handa |
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Designation : |
Director |
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Address : |
53/41 Ramjas Road, Karol Bagh, New Delhi – 110005 |
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Date of Birth/Age : |
16.08.1970 |
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Date of Appointment : |
07.11.2001 |
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Name : |
Ms. Neeta Gulati |
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Designation : |
Director |
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Address : |
12 Golden Kumar Gulati, Dr. Ambedkar Road, Kher (West), Mumbai –
400052 |
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Date of Birth/Age : |
16.08.1970 |
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Date of Appointment : |
07.11.2001 |
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Name : |
Ms. Divya Kumar Gulati |
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Designation : |
Director |
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Address : |
12 Golden Kumar Gulati, Dr. Ambedkar Road, Kher (West), Mumbai –
400052 |
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Date of Birth/Age : |
26.04.1968 |
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Date of Appointment : |
07.11.2001 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 30.09.2004
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Names of Shareholders |
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No. of Shares |
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Mr. Varsha Handa |
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2000 |
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Ms. Geeta Handa |
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1400 |
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Mr. Vikas Handa |
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1400 |
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Ms. Neeta Gulati |
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1400 |
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Mr. Ram |
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1400 |
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Mr. Janek handa |
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1400 |
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Ms. Divya Kumar Gulati |
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500 |
BUSINESS DETAILS
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Line of Business : |
Importer, Exporter and Dealing in Aqua Culture Feed |
GENERAL
INFORMATION
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Bankers : |
Not Applicable |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 31.03.2004
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs. 10/- Each |
Rs. 0.500
Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10/- Each |
Rs. 0.100 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.387 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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0.487 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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0.000 |
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TOTAL BORROWING |
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0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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0.487 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.048 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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Sundry Debtors |
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Cash & Bank Balances |
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Other Current Assets |
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Loans & Advances |
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0.426 |
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Total
Current Assets |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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Provisions |
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Total
Current Liabilities |
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Net Current Assets |
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0.426 |
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MISCELLANEOUS EXPENSES |
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0.013 |
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TOTAL |
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0.487 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2004 |
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Sales Turnover |
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15.207 |
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Other Income |
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0.000 |
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Total Income |
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15.207 |
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Profit/(Loss) Before Tax |
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0.401 |
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Provision for Taxation |
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0.145 |
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Profit/(Loss) After Tax |
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0.256 |
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Expenditures : |
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Other Expenditure |
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14.951 |
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Total Expenditure |
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14.951 |
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KEY RATIOS
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PARTICULARS |
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31.03.2004 |
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PAT / Total Income |
(%) |
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1.68 |
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Net Profit Margin (PBT/Sales) |
(%) |
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2.63 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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835.41 |
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Return on Investment (ROI) (PBT/Networth) |
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0.82 |
LOCAL AGENCY
FURTHER INFORMATION
AS PER WEBSITE DETAILS
Background
Aquaculture
industry was set up in India in early 90s with participation of big corporates. In the
beginning the business was lucrative; however, the onset of white spot disease,
caused devastating affect and many of the corporates withdrew from this business
leaving it predominantly in the hands of the small farmers. These farmers were
neither in a financial position to hire the services of professionals nor had
sufficient education to do so. In late 90s this business was at its lowest ebb
due to lack of project management.
Introduction
Company was promoted by
Mr. Satish Handa in 1997. Its sole mission is to provide the finest quality and
the most comprehensive range of services and products to the aquaculture
industry, especially to the small farmers at the source. It is a pioneer in
providing such a wide range of services and most innovative products for this
industry. NATPL has the access to a number of consultants throughout the
country to provide on the spot and most economical solutions to the farmers.
In addition to India, it
does business in other countries such as Bangladesh,
Malaysia, Indonesia, Madagascar and South Africa.
Farm and Hatchery Products
Waste Bioremediation
Products for aquaculture (Farm and Hatchery), a bacteria enzyme complex for
waste degradation. It is being used both in fresh water and brackish water
systems to control excessive organic build up and also prevent multiplication
of pathogenic bacteria.
Biological
Aquaculture Treatment is a specially formulated mixture of EPICIN microbes and
an optimized growth medium. It was developed to allow aqua culturists to derive
maximum economic benefit from using EPICIN biological treatment. EPICIN-3W is
designed for pond-side grow-up of the same EPICIN microorganisms that have
proven so effective in digesting shrimp pond pollution and in providing a
probiotic effect to protect shrimp health Pond-side grow-up is a make their own
approach that provides economies by reducing the initial dosage of expensive
EPICIN microorganisms.
For farmers with sufficient
technical skills, it is possible to reduce EPICIN treatment rates and,
therefore, costs by growing-up additional microorganism cells at pond side.
EPIZYM-BGM is a specially designed growth media to facilitate this grow-up for
pond-side use.
EPIZYM - AGP Algae Growth Promoter
Young shrimp rely
on natural food sources such as algae and zooplankton. Shrimp health is
critically dependent on an adequate supply of high quality plankton, which must
be grown by the aquaculturist.EPIZYM-AGP Algae Growth Promoter provides
specially formulated micro-nutrients and growth stimulants to be used with
primary nutrients to promote the cultivation of algae for hatchery feeding.
EPIZYM-AGP COMPLETE Algae Growth
Promoter
EPIZYM-AGP COMPLETE
Algae Growth Media is an equilibrated cellular stimulant for producing high
levels of nutritious marine algae, rotifers and other zooplankton used for
feeding shrimp and other marine animals. EPIZYM-AGP COMPLETE contains all the
primary nutrients, vitamins and chelated trace minerals necessary for algae
growth. Additionally it contains specially selected beneficial physiologic
growth stimulants. Formulated as an easy to use, concentrated liquid it completely
replaces the traditional Guillards f/2 media.
Marine Broodstock
Feed, used for maturation of shrimp.It contains a vitamin and unique mineral
complex to accelerate growth.
The EPIFEED-LHF
family of unique liquid larval hatchery feeds help solve hatchery nutrition and
pollution problems at the source.EPIFEED-LHF Larval Hatchery Feeds are composed
of the finest quality, highly palatable and easily digestible ingredients that
are constantly available to larvae, promoting consumption and assimilation of
the nutrients and hence larval growth and survival. The unique emulsion form of
these products provides neutrally buoyant particles that remain suspended in
the water column. They are formulated to minimize leaching of nutrients and so,
with their superior suspendability properties, reduce the build up of toxic
nutrients and pathogens in the tank. The result is the economical production of
large quantities of high-health larvae with the potential to generate large
profits when transferred to the culture ponds.
Engineered aquatic
Synthetic substrates for bacteria. It is used as a biofilter and reduces water
exchange in aquaculture ponds.
Does not require
oxygen. Releases carbon dioxide. Used for packing shrimp and fish seeds
(larvae).
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.47.33 |
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UK Pound |
1 |
Rs.73.92 |
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Euro |
1 |
Rs.66.69 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
2 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
- |
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--CREDIT LINES |
1~10 |
- |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
NO |
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TOTAL |
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11 |
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 |
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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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