MIRA
INFORM REPORT
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Report Date : |
13.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
MONSANTO HOLDINGS PRIVATE LIMITED |
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Registered Office : |
Ahura Centre, 5th Floor, Mahakali Caves Road, Andheri (East),
Mumbai-400093, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
16.01.1996 |
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Com. Reg. No.: |
11-96340 |
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CIN No.: [Company
Identification No.] |
U24110MH1996PTC096340 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMM12034B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Agro
Chemicals |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 24000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having satisfactory
track. Trade relations are fair. General financial position is good. Payments
are reported as usually made as per commitments. The company can be considered good for normal business dealings. |
LOCATIONS
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Registered Office : |
Ahura Centre, 5th Floor, Mahakali Caves Road, Andheri
(East), Mumbai-400093, Maharashtra, India |
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Tel. No.: |
91-22-28246450 |
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Fax No.: |
91-22-55023362 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Ajai Nemkumar Jain |
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Designation : |
Director |
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Address : |
D-14, Tiger Apartments, Rifle Range, Ghatkopar (West), Mumbai-400086, Maharashtra,
India |
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Date of Birth/Age : |
21.11.1963 |
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Date of Appointment : |
05.03.2004 |
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Name : |
Mr. Ernest Robert Louis |
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Designation : |
Director |
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Address : |
Mahindra Gardens Building, No. A-2, Flat No. 33, S V Road, Goregaon (West),
Mumbai-400062, Maharashtra, India |
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Date of Birth/Age : |
24.01.1960 |
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Date of Appointment : |
16.10.2000 |
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Name : |
Mr. Bipin Solanki |
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Designation : |
Director |
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Date of Birth/Age : |
13.03.1960 |
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Date of Appointment : |
01.04.2007 |
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Name : |
Mr. Sathia Jeeva Krishnan Chidambara |
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Designation : |
Additional Director |
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Address : |
B 1506, Hill Grange Hiranandani Estate, Thane (West)- 400607,
Maharashtra, India |
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Date of Birth/Age : |
04.11.1965 |
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Date of Appointment : |
30.04.2008 |
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Name : |
Mr. Girish Arjan Tekchandani |
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Designation : |
Additional Director |
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Address : |
G-3, Ranga Reddy Towers, 157/7, Staff Road, Sikh Village,
Secundarabad-500009, Andhra Pradesh, India |
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Date of Birth/Age : |
17.10.1973 |
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Date of Appointment : |
24.12.2007 |
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Name : |
Mr. Bhaskar Chandran |
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Designation : |
Additional Director |
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Address : |
Flat No. 302, Bullet Gazetted Police Co-Operative Hosueing L.N Road, Opposite King George School, Dadar (East),
Mumbai-400014, Maharashtra, India |
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Date of Birth/Age : |
24.05.1963 |
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Date of Appointment : |
24.12.2007 |
KEY EXECUTIVES
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Name : |
Mr. Harshad Hemant Morgaonkar |
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Designation : |
Secretary |
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Address : |
C-10, Soba Sahawas, Behind Spencer, Karve Nagar, Pune-411052,
Maharashtra, India |
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Date of Birth/Age : |
18.08.1980 |
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Date of Appointment : |
15.09.2008 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Monsanto Company USA, 800 North Lindbergh Blvd. St. Louis Missouri,
USA 63167 |
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330668730 |
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Monsanto Columbiana Incorporation |
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20 |
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Total |
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330668750 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2007
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Category |
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Percentage |
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Foreign holdings ( Foreign institutional investor(s), Foreign
companie(s) Foreign financial institution(s), Non-resident Indian(s) or
Overseas Corporate bodies or others |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Agro
Chemicals |
GENERAL
INFORMATION
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No. of Employees : |
250 |
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Bankers : |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountant |
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Address : |
No. 22, Dr. A B Road, Opposite Shiv Sagar Estate, Worli,
Mumbai-400018, Maharashtra, India |
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Tel. No.: |
91-22-66679000 |
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Fax No.: |
91-22-66679025 |
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Joint Ventures : |
·
Monsanto- DMCC Enviro-Tech and Engineering Limited ·
Mahyco Monstro Biotech (India) Limited ·
Mahyco Seeds Limited ·
Mahyco Vegetables Seeds Limited ·
Maharashtra Hybrid Seeds Company Limited |
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Holding Company : |
Monsanto Company USA Address: 800 North Lindbergh Blvd, St. Missouri, USA 63167 |
CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
350000000 |
Equity Shares |
Rs. 10/- each |
Rs. 3500.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
330668750 |
Equity Shares |
Rs/ 10/-
each |
Rs. 3306.688
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
3306.688 |
3306.688 |
3306.688 |
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2] Share Application Money |
0.000 |
0.00 |
0.000 |
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3] Reserves & Surplus |
1616.144 |
901.975 |
246.455 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
4922.832 |
4208.663 |
3553.143 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
6.647 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
6.647 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
4922.832 |
4208.663 |
3559.790 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
83.706 |
85.686 |
70.770 |
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Capital work-in-progress |
5.398 |
1.976 |
4.122 |
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INVESTMENT |
3766.552 |
3263.920 |
3304.511 |
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DEFERREX TAX ASSETS |
17.847 |
17.870 |
9.454 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
|
0.000 |
19.305 |
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Sundry Debtors |
19.430
|
146.047 |
254.476 |
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Cash & Bank Balances |
69.272
|
60.959 |
21.125 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
1026.358
|
757.837 |
46.632 |
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Total
Current Assets |
1115.060
|
964.843 |
341.538 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
56.564
|
88.126 |
165.340 |
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Provisions |
9.167
|
37.506 |
5.265 |
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Total
Current Liabilities |
65.731
|
125.632 |
170.605 |
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Net Current Assets |
1049.329
|
839.211 |
170.933 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
4922.832 |
4208.663 |
3359.790 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Sales Turnover |
|
0.000 |
58.224 |
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Other Income |
|
1115.602 |
1244.340 |
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Total Income |
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1115.602 |
1302.564 |
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Profit/(Loss) Before Tax |
|
812.481 |
963.973 |
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Provision for Taxation |
|
98.313 |
91.805 |
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Profit/(Loss) After Tax |
|
714.168 |
872.168 |
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Earnings in Foreign Currency : |
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Export Earnings |
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214.474 |
190.894 |
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Expenditures : |
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Financial Charges |
|
1.430 |
5.558 |
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Depreciation & Amortization |
|
19.599 |
17.296 |
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Other Expenditure |
|
282.092 |
315.737 |
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Total Expenditure |
|
303.121 |
338.591 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
64.02
|
66.96 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
0.00
|
1655.63 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
67.78
|
91.76 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.17
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0.23 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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0.01
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0.03 |
0.05 |
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Current Ratio (Current Asset/Current Liability) |
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16.96
|
7.68 |
2.00 |
LOCAL AGENCY
FURTHER INFORMATION
Nil
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.48.74 |
|
UK Pound |
1 |
Rs.85.19 |
|
Euro |
1 |
Rs.66.12 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
8 |
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OPERATING SCALE |
1~10 |
7 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
8 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
8 |
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--LEVERAGE |
1~10 |
8 |
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--RESERVES |
1~10 |
8 |
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--CREDIT LINES |
1~10 |
8 |
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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 |
|
67 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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