MIRA
INFORM REPORT
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Report Date : |
25.11.2008 |
IDENTIFICATION DETAILS
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Name : |
PAHUJA SEEDS PRIVATE LIMITED |
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Registered Office : |
A – 3, Panchvati Azadpur, |
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Country : |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
24.11.1983 |
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Com. Reg. No.: |
55-17002 |
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CIN No.: [Company
Identification No.] |
U74899dl1983ptc017002 |
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IEC No.: |
0588142506 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELP09308F |
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PAN No.: [Permanent
Account No.] |
AAACP1748H |
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Legal Form : |
Private Limited Liability Company
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Line of Business : |
Manufacturer and exporter
of Vegetables Seeds |
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 91000 |
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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 company having satisfactory track.
Trade relations are fair. Financial position is satisfactory. 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. Ishwar Chander Pahuja |
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Designation : |
Director |
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Contact No.: |
91-9811060011 |
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Date : |
10.11.2008 |
LOCATIONS
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Registered Office : |
A – 3, Panchvati, Opposite New Subzi Mandi, Azadpur, |
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Tel. No.: |
91-11-27670549 |
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Mobile No.: |
91-9811060011 |
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Fax No.: |
91-11-27670549 / 27670767 |
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E-Mail : |
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Area : |
8000 Sq.fts |
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Location : |
Owned |
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Factory 1 : |
1561, HSIDc, Rai, |
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Tel. No.: |
91-9811180250 |
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Area : |
6000 Sq.fts |
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Location : |
Owned |
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Factory 2 : |
A – 5, Panchwati Opposite New Subzi Mandi, Azadpur, New Delhi – 110
033, India |
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Tel. No.: |
91-11-27670549 |
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Fax No.: |
91-11-27670767 |
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Area : |
8000 Sq.fts |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Ishwar Chander Pahuja |
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Designation : |
Director |
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Address : |
61, Chander Enclave Pitampura, |
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Date of Birth/Age : |
08.08.1955 |
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Qualification : |
B.S.E (Agri.) |
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Date of Appointment : |
24.11.1983 |
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Name : |
Mr. Chanchal Pahuja |
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Designation : |
Director |
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Address : |
61, Chander Enclave Pitampura, |
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Date of Birth/Age : |
14.03.1960 |
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Qualification : |
B.A. |
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Date of Appointment : |
01.04.2001 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2007:-
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Names of Shareholders |
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No. of Shares |
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Baslay System Private Limited |
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7130 |
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Akanksha Finvest Limited |
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370 |
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Mr. Sanjay Pahuja |
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4400 |
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Mr. Sandeep Pahuja |
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1100 |
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Mr. Tulsi Das Pahuja |
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1300 |
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Mr. Ishwar Chander Pahuja |
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2460 |
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Mr. Charu Pahuja |
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1250 |
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Mr. Akshya Pahuja |
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1350 |
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Mr. Harsh Pahuja |
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1300 |
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Total
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20660 |
List of Allotees
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Names of Shareholders |
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No. of Shares |
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Mr. Tulsi Das
Pahuja |
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1300 |
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Mr. Sanjay Pahuja |
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4400 |
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Mr. Sandeep Pahuja |
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1100 |
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Total |
6800 |
AS ON 30.09.2007:-
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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64.00 |
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Other top fifty shareholders |
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36.00 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and exporter
of Vegetables Seeds |
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Brand Names : |
“Pahuja“ |
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Exports : |
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Products : |
Vegetable Seeds |
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Countries : |
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Imports : |
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Products : |
Vegetable Seeds |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash, Credit (30 days) |
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Purchasing : |
L/C, Cash |
PRODUCTION STATUS
(As on 31.03.2008):-
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Particulars |
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Unit |
Actual
Production |
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Vegetable Seeds |
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Kg |
0.2 million |
GENERAL INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
29 (15 in office, 10 in
Factory, 4 in Branches) |
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Bankers : |
·
Punjab National Bank, · ICICI Bank limited |
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Banking Relations
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Satisfactory |
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Auditors : |
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Name : |
Sumer Garg and company Chartered Accountants |
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Address : |
501-A, 5th Floor, E - Block, GD –ITL Northex Towers, Netaji
Subhash Place, Pitampura, Delhi – 110 034, India |
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Tel No.: |
91-11-42471233/55/66/77 |
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Fax No: |
91-11-42471277 |
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Associates/Subsidiaries : |
Pahuaj Takii Seed Limited, Address : Activity : Vegetable seeds Overseas incorporation Address : C -28, Indra Market, Activity : Vegetable seeds |
CAPITAL STRUCTURE
AS ON 31.03.2008:-
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs. 100/- Each |
Rs. 5.000 million |
Issued, Subscribed
& Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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20660 |
Equity Shares |
Rs. 100/- Each |
Rs.2.066 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.066 |
2.066 |
1.386 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
16.121 |
14.784 |
9.619 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
18.187 |
16.850 |
11.005 |
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LOAN FUNDS |
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1] Secured Loans |
5.981 |
7.484 |
6.950 |
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2] Unsecured Loans |
1.297 |
1.297 |
1.644 |
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TOTAL BORROWING |
7.278 |
8.781 |
8.594 |
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DEFERRED TAX LIABILITIES |
0.029 |
0.042 |
0.037 |
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TOTAL |
25.494 |
25.673 |
19.636 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4.408 |
4.551 |
4.115 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
3.020 |
3.020 |
3.020 |
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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 |
38.972 |
36.019
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33.689 |
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Sundry Debtors |
24.665 |
18.911
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10.125 |
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Cash & Bank Balances |
1.699 |
0.905
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0.768 |
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Other Current Assets |
0.000 |
0.000
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0.000 |
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Loans & Advances |
2.360 |
2.179
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2.036 |
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Total
Current Assets |
67.696
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58.014
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46.618 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
49.654 |
39.900
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34.089 |
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Provisions |
0.016 |
0.012
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0.028 |
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Total
Current Liabilities |
49.670
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39.912
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34.117 |
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Net Current Assets |
18.026
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18.102
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12.501 |
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MISCELLANEOUS EXPENSES |
0.040 |
0.000 |
0.000 |
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TOTAL |
25.494 |
25.673 |
19.636 |
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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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158.424 |
116.706 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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158.424 |
116.706 |
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Profit/(Loss) Before Tax |
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1.990 |
1.447 |
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Provision for Taxation |
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0.653 |
0.533 |
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Profit/(Loss) After Tax |
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1.337 |
0.914 |
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Import Value |
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35.724 |
20.135 |
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Expenditures : |
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Cost of Goods Sold |
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147.338 |
107.300 |
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Administrative Expenses |
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8.085 |
6.992 |
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Interest |
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0.498 |
0.515 |
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Depreciation & Amortization |
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0.513 |
0.452 |
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Total Expenditure |
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156.434 |
115.259 |
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KEY RATIOS
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PARTICULARS |
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31.03.2008 |
31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
0.84
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0.78 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
1.26
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1.24 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.65
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2.21 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.11
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0.09 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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3.13
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2.89 |
3.88 |
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Current Ratio (Current Asset/Current Liability) |
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1.36
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1.45 |
1.37 |
LOCAL AGENCY FURTHER INFORMATION
Fixed assets:-
· Computer
· Cooler
· Air Conditioner
· Cycle
· Vehicle
· Fax machine
· Generator
· Industrial Plot at Rai
· Machinery
· Office Equipment
· Scooter
· Fan
· Typewriter
· Land – Bakhtawarpur
· EPABX Systems
· Telephone Instruments
· Building
· Tata ACE
· Air Conditioner
· Machinery
FORM 8:-
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U74899DL1983PTC017002 |
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Name of the
company |
PAHUJA SEEDS
PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
A – 3, Panchvati Azadpur, |
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Type of charge |
Hypothecation |
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Particular of
charge holder |
Punjab National
Bank, E-Mail : sid.s.garg@gmail.com |
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Nature of
description of the instrument creating or modifying the charge |
Letter of
Hypothecation on the vehicle financed |
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Date of
instrument Creating the charge |
16.06.2006 |
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Amount secured by
the charge |
Rs. 0.185 million |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of interest
– 11.25% Margin : Rs.
0.001 million Repayment : Rs. 35
monthly installments of Rs. 0.007 million each |
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Description of
the property charged indicating whether it is a charged on |
Vehicles |
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Particulars of
property charged |
TATa ACE – goods vehicle |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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
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Indian Rupees |
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US Dollar |
1 |
Rs.50.09 |
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|
1 |
Rs.74.90 |
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Euro |
1 |
Rs.63.40 |
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 |
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 |
YES |
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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 |
|
49 |
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 |
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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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