MIRA
INFORM REPORT
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Report Date : |
14.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
DR. YESHWANT EMU FARM AND HATCHERY |
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Registered Office : |
A /102, Nava Rutuja Co-operative Housing Society,
Jai Hind Colony, Gupte Road, Dombivli (West), Thane – 421 202, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2005 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Providing Management Services like Farm Training, Hatchery
Training, advise on Health Care, Emu Bird Eggs, Provide Veterinary Services
for Prevention and Treatment of Diseases. |
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 30000 |
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Status : |
Satisfactory |
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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. The
concern is expected to do better in the current year. Its trade relations are
fair. Nothing adverse reported. The concern can be considered normal for
business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
A /102, Nava Rutuja Co-operative Housing Society,
Jai Hind Colony, Gupte Road, Dombivli (West), Thane – 421 202, Maharashtra,
India |
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Tel. No.: |
95-251-2408196 |
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Mobile No.: |
91-9820163529/ 9422485055 |
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Fax No.: |
95-251-2408196 |
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E-Mail : |
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Website : |
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Area : |
800 sq. ft. |
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Location : |
Owned |
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Farming Unit 1 : |
Village Songaon - Dhasai, Taluka - Murbad, District – Thane,
Maharashtra, India |
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Area : |
10 Acres |
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Location : |
Owned |
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Farming Unit 2 : |
Salwad, Raigad, Maharashtra, India |
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Farming Unit 3 : |
Bhivpuri, Raigad, Maharashtra, India |
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Farming Unit 4 : |
Karjat, Raigad, Maharashtra, India |
SOLE PROPRIETOR
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Name : |
Mr. Ajit Gadgil |
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Designation : |
Sole Proprietor |
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Date of Birth/Age : |
50 Years |
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Qualification : |
Graduate and M. V. Sc. (Physiology and Medicine) |
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Experience : |
5 Years |
KEY EXECUTIVES
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Name : |
Mr. Vijay |
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Designation : |
Chief Executive Officer |
BUSINESS DETAILS
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Line of Business : |
Providing Management Services like Farm Training, Hatchery
Training, advise on Health Care, Emu Bird Eggs, Provide Veterinary Services
for Prevention and Treatment of Diseases. |
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Products : |
* Emu Birds Oil * Meat * Hide * Feather * Empty
Eggshells and Toenails |
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Terms : |
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Selling : |
On Cash basis |
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Purchasing : |
On Cash basis |
GENERAL
INFORMATION
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Customers : |
Farmers |
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No. of Employees : |
Around 8 |
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Bankers : |
* Corporation
Bank, Dombivli, Thane, Maharashtra, India * State Bank of India,
MIDC Branch, Thane, Maharashtra, India |
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Facilities : |
Cash Credit: Rs. 5.000 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Prashant Ghag Chartered Accountants |
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Address : |
Dombivli, Thane, Maharashtra, India |
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Mobile No.: |
91-9821110686 |
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Sister Concern : |
Nirmiti Road
Markers Dombivli, Thane, Maharashtra, India --Line of Business: Road and Traffic Contracting Work. |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 5.000 millions |
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Borrowed : |
Rs. 2.500 millions |
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Total : |
Rs. 7.500 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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2.000 |
1.500 |
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Expected Sales (2007-08) : Rs. 15.000 millions
LOCAL AGENCY
FURTHER INFORMATION
As Per Website:
Profile
Dr. Yeshwant Gadgil’s Emu Farm, established in the year 2005, Dr. Yashwant G. Gadgil, M. V. Sc. (Physiology and Medicine) is experienced in Livestock Management for the last 48 years. He had been teaching in Livestock Physiology and Medicine at Bombay Veterinary College Parel, Mumbai. He worked in the department of Animal Husbandry as a “Technical Officer”. He Was an ex-coordinator to the Director of Economics and Statistic (DPAP Project Program preparation cell of Govt. of Maharashtra). He was a Program Coordinator in Production of Vaccines in BAIF and HOECHST Pharmaceuticals.
Mr. Ajit Gadgil, his son, with the background of Agriculture as well as Engineering is Proprietor of Nirmiti Road Markers, an ISO 9001-2000 Company and he is coordinating in the Emu farming project. Initially we were rearing the Emu Birds and now progressing by undertaking to incubate the fertilized eggs to hatch out healthy chicks with modern Scientific management activities. They offer high quality Emu birds to farmers at concession rate along with training and advice in their Scientific Management.
Subject provides the
following Services:
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Training in Emu farming and management.
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Training includes tips on the routines in incubation and hatchery
Management practices.
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Consultancy on Emu Bank project.
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Sale of quality emu bird and purchase fertilized eggs.
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Sale birds having potential for good performance on buy
back agreement basics.
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Advise on health care and provide veterinary services
for prevention and treatment of diseases.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions between
a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.27 |
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UK Pound |
1 |
Rs.77.01 |
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Euro |
1 |
Rs.58.29 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
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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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44 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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