MIRA
INFORM REPORT
|
Report Date : |
16.09.2008 |
IDENTIFICATION DETAILS
|
Name : |
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Registered Office : |
At Taloli, Post Padgha,
Taluka Bhiwandi, Opposite
Grampanchayat, Near |
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|
Country : |
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|
Financials (as on) : |
31.03.2008 [Unaudited] |
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Date of Incorporation : |
10.03.1999 |
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|
PAN No.: [Permanent
Account No.] |
AJWPR9389Q |
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|
Legal Form : |
Sole Proprietory Concern |
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|
Line of Business : |
Manufacturer of Milk |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable
factors carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average. |
Small |
|
Status : |
Unorganised |
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|
|
Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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|
Comments : |
Subject’s business falls in an unorganised
sector and hence no audited statements are available or produced. No payment records are available since the concern has no major
suppliers. It would be prudent to take appropriate securities while dealing with
the subject. It would be difficult to grant clean credit on the basis of available
information with us. |
LOCATIONS
|
Registered Office : |
At Taloli, Post Padgha,
Taluka Bhiwandi, Opposite
Grampanchayat, Near |
|
Mobile No.: |
91-9881001992 |
SOLE PROPRIETOR
|
Name : |
Mr. Imran Jahangir
Rais |
|
Designation : |
Proprietor |
|
Address : |
At Taloli, Post Padgha,
Taluka Bhiwandi, Opposite
Grampanchayat, Near |
|
Date of Birth/Age : |
04.04.1978 |
|
Qualification : |
b. Com Graduate |
|
Experience : |
5 Years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Milk |
GENERAL INFORMATION
|
Bankers : |
Not Available |
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|
|
|
Banking
Relations : |
-- |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
Not Available |
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
167900 |
Equity Shares |
Rs. 10/-
each |
Rs. 1.679 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
AS ON 31.03.2006
|
Particulars |
Rs
in Millions |
|
|
|
|
Gross Total Income |
0.722 |
|
|
|
|
Total Sundry Debtors |
1.242 |
|
|
|
|
Total Sundry Creditors |
0.878 |
|
|
|
|
Total Stock-in-trade |
3.178 |
|
|
|
|
Cash Balance |
0.060 |
|
|
|
|
Gross Receipt |
3.946 |
|
|
|
|
Gross Profit |
1.577 |
|
|
|
|
Expenses |
0.854 |
|
|
|
|
Net Profit |
0.722 |
|
|
|
|
Total Depreciation |
0.744 |
ABRIDGED BALANCE
SHEET
[UNAUDITED
– As claim by management]
|
SOURCES OF FUNDS |
|
31.03.2008 |
31.03.2007 |
|
CURRENT LIABILITIES |
|
|
|
|
Short term Borrowings |
|
|
|
|
Sundry Creditors – Trade |
|
0.200 |
0.000 |
|
Other Statuary Liability |
|
0.005 |
0.050 |
|
0Term Loan Repayment in 12 Months |
|
0.000 |
0.000 |
|
Dividend |
|
|
|
|
Others |
|
0.091 |
0.000 |
|
Sub Total |
|
0.300 |
0.050 |
|
Total Current Liabilities |
|
0.300 |
0.050 |
|
Term Liabilities |
|
|
|
|
Debenture / Term Loans |
|
0.000 |
0.000 |
|
[other than repayable in 12 months] |
|
|
|
|
Deferred Payment |
|
|
|
|
Term Deposits |
|
0.000 |
0.000 |
|
Other |
|
0.000 |
0.000 |
|
Total Term Liabilities |
|
0.000 |
0.000 |
|
Total Out side Liabilities |
|
0.000 |
0.000 |
|
Net Worth |
|
|
|
|
Share Capital |
|
1.679 |
2.279 |
|
General Reserve |
|
|
|
|
Other Reserves |
|
|
|
|
Profit and Loss Account |
|
1.443 |
0.566 |
|
Others [Quasi Capital] |
|
|
|
|
NET WORTH |
|
3.122 |
2.845 |
|
TOTAL LIABILITIES |
|
3.418 |
2.845 |
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
Cash and Bank Balance |
|
0.085 |
0.115 |
|
Investments |
|
|
|
|
FDR with Bank |
|
0.000 |
0.000 |
|
Receivables Trade |
|
0.100 |
0.120 |
|
Others |
|
0.000 |
0.000 |
|
TOTAL CURRENT ASSETS |
|
0.185 |
0.235 |
|
FIXED ASSETS |
|
|
|
|
Gross Block |
|
1.616 |
1.423 |
|
Depreciation |
|
0.753 |
0.744 |
|
Net Block |
|
0.863 |
0.678 |
|
Other Non Current Assets |
|
0.000 |
0.000 |
|
Investments |
|
0.000 |
0.000 |
|
Other Deposits |
|
0.000 |
0.000 |
|
Total Non CA |
|
0.000 |
0.000 |
|
Intangible Assets |
|
0.000 |
0.000 |
|
Total Assets |
|
3.418 |
2.845 |
|
Current Ratio |
|
5.0 |
4.7 |
PROFIT & LOSS
ACCOUNT
[UNAUDITED
– As claim by management]
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
|
|
|
|
|
|
|
|
Sales Turnover |
|
5.771 |
3.946 |
|
|
Other Income |
|
0.231 |
0.147 |
|
|
Total Income |
|
6.002 |
4.093 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
1.443 |
0.943 |
|
|
Provision for Taxation |
|
0.000 |
0.000 |
|
|
Profit/(Loss) After Tax |
|
1.443 |
0.943 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Cost of Goods Sold |
|
1.986 |
3.053 |
|
|
Selling and General Administrative Expenses |
|
0.383 |
0.676 |
|
|
Depreciation |
|
0.744 |
0.753 |
|
|
Other Income |
|
0.037 |
0.077 |
|
Total Expenditure |
|
4.559 |
3.150 |
|
LOCAL AGENCY FURTHER INFORMATION
BRIEF PROFILE
The name of the business is “Rais Dairy”, nature of the business is milk production. It
is owned by Mr. Imaran J Rais
son of Mr. Jahangir Ab Sattar Rais is the land lord of
village talluli. This dairy is been established by
him in the year 1999 on March 10th. Today this dairy having 80
buffaloes single owned by Imran J Rais.
Rais family is a renowned family on the area of Bhiwandi they have built first High School in there village
with the joint effort of Gram Panchayat named “
BALANCE SHEET
LIABILITY
|
PARTICULARS |
2008-2009 |
2009-2010 |
2010-2011 |
2011-2012 |
|
|
Projected |
|||
|
CURRENT LIABILITIES |
|
|
|
|
|
Bank Borrowings |
0 |
0 |
0 |
0 |
|
[of which BP and BD] |
0 |
0 |
0 |
0 |
|
Sub Total |
0 |
0 |
0 |
0 |
|
Short term Borrowings |
|
|
|
|
|
Sundry Creditors – Trade |
0.002 |
0.003 |
0.542 |
0.524 |
|
Month’s Purchase CIF Value |
|
|
|
|
|
Advance Received |
|
|
|
|
|
Tax Provision |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Statuary Liability |
0.050 |
0.050 |
0.105 |
0.750 |
|
0Term Loan Repayment in 12 Months |
0.000 |
1.050 |
1.050 |
1.050 |
|
Dividend |
|
|
|
|
|
Others |
0.000 |
0.000 |
0.000 |
0.000 |
|
Sub Total |
0.200 |
1.350 |
1.590 |
1.570 |
|
Total Current Liabilities |
0.200 |
1.350 |
1.590 |
1.570 |
|
Term Liabilities |
|
|
|
|
|
Debenture / Term Loans |
3.150 |
2.100 |
1.050 |
0.000 |
|
[other than repayable in 12 months] |
|
|
|
|
|
Deferred Payment |
|
|
|
|
|
Term Deposits |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other |
0.000 |
0.000 |
0.000 |
0.000 |
|
Total Term Liabilities |
3.150 |
2.100 |
1.050 |
0.000 |
|
Total Out side Liabilities |
3.350 |
3.450 |
2.640 |
1.570 |
|
Net Worth |
|
|
|
|
|
Share Capital |
1.679 |
1.679 |
1.679 |
2.179 |
|
General Reserve |
|
|
|
|
|
Other Reserves |
|
|
|
|
|
Profit and Loss Account |
1.903 |
1.741 |
3.309 |
3.101 |
|
Others [Quasi Capital] |
|
|
|
|
|
Net Worth |
3.582 |
3.420 |
4.988 |
5.280 |
|
Total Liabilities |
6.932 |
6.870 |
7.630 |
6.854 |
|
|
|
|
|
|
Note :
The unsecured loan from friends and relatives
is considered as Quasi capital in the net worth
ASSETS
|
PARTICULARS |
2008-2009 |
2009-2010 |
2010-2011 |
2011-2012 |
|
|
Projected |
|||
|
Current assets |
|
|
|
|
|
Cash and Bank Balance |
0.352 |
0.600 |
0.600 |
0.600 |
|
Investments |
0.000 |
0.000 |
0.000 |
0.000 |
|
FDR with Bank |
0.000 |
0.000 |
0.000 |
0.000 |
|
Receivables Trade |
0.283 |
0.567 |
0.567 |
0.567 |
|
Months sale |
0.000 |
0.000 |
0.000 |
0.000 |
|
Receivables Service |
|
|
|
|
|
Months |
|
|
|
|
|
Stock in Trade |
0.453 |
0.500 |
0.500 |
0.500 |
|
Months Purchase |
0.050 |
0.050 |
0.050 |
0.050 |
|
Advance to suppliers |
0.209 |
0.264 |
0.264 |
0.264 |
|
Advance Tax Paid |
|
|
|
|
|
Others |
0.000 |
0.000 |
0.100 |
0.200 |
|
TOTAL CURRENT ASSETS |
1.347 |
1.981 |
2.081 |
2.181 |
|
FIXED ASSETS |
|
|
|
|
|
Gross Block |
6.813 |
6.870 |
7.518 |
6.630 |
|
Depreciation |
1.228 |
1.982 |
1.969 |
1.957 |
|
Net Block |
5.585 |
4.889 |
5.549 |
4.676 |
|
Other Non Current Assets |
0.000 |
0.000 |
0.000 |
0.000 |
|
Investments |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Deposits |
0.000 |
0.000 |
0.000 |
0.000 |
|
Total Non CA |
0.000 |
0.000 |
0.000 |
0.000 |
|
Intangible Assets |
0.000 |
0.000 |
0.000 |
0.000 |
|
Total Assets |
6.932 |
6.870 |
7.630 |
6.854 |
|
Current Ratio |
6.7 |
1.5 |
1.3 |
1.4 |
P & L ACCOUNT
|
PARTICULARS |
2008-2009 |
2009-2010 |
2010-2011 |
2011-2012 |
|
|
Projected |
|||
|
GROSS INCOME |
|
|
|
|
|
|
|
|
|
|
|
GROSS INCOME |
10.712 |
15.184 |
16.982 |
17.029 |
|
Sub Total |
10.712 |
15.184 |
16.982 |
17.029 |
|
Other Income |
0.085 |
0.187 |
0.206 |
0.227 |
|
Sub Total |
0.085 |
0.187 |
0.206 |
0.227 |
|
Total |
10.797 |
15.371 |
17.189 |
17.256 |
|
|
|
|
|
|
|
COST OF SALES |
|
|
|
|
|
Consumption / Sales % |
|
|
|
|
|
Purchases of Feed |
3.914 |
6.688 |
6.688 |
6.688 |
|
Purchase of Medicines |
0.618 |
0.876 |
0.876 |
0.876 |
|
Sub Total |
4.532 |
7.564 |
7.564 |
7.564 |
|
Add Opening Stock |
2.563 |
4.342 |
4.216 |
4.102 |
|
Less Closing Stock |
1.335 |
2.361 |
2.247 |
2.145 |
|
Cost of Sales |
5.760 |
9.546 |
9.533 |
9.521 |
|
Selling and Gen. Administrative Exp. |
1.524 |
1.902 |
2.262 |
2.691 |
|
OPERATING PROFIT |
3.513 |
3.924 |
5.394 |
5.043 |
|
Depreciation |
1.228 |
1.982 |
1.969 |
1.957 |
|
Interest |
0.236 |
0.410 |
0.280 |
0.110 |
|
Bank charge and Insurance |
0.400 |
0.350 |
0.350 |
0.350 |
|
Operating Profit |
1.649 |
1.183 |
2.795 |
2.626 |
|
After Interest and Depreciation |
|
|
|
|
|
Add other non Operating Income |
0.085 |
0.187 |
0.206 |
0.227 |
|
Less Non operating Expenses |
0.338 |
0.745 |
0.820 |
0.902 |
|
Net other non Optg.
Income |
0.254 |
0.558 |
0.614 |
0.675 |
|
Profit Before Tax |
1.903 |
1.741 |
3.409 |
3.301 |
|
Provision for Tax |
0.00 |
0.00 |
0.00 |
0.00 |
|
N.P.A.T. |
1.903 |
1.741 |
3.309 |
3.101 |
|
Withdrawals |
0.000 |
0.000 |
0.000 |
0.000 |
|
Retained Profit |
1.903 |
1.741 |
3.309 |
3.101 |
|
Retained Profit / NPAT % |
100 % |
100 % |
100 % |
100 % |
|
PARTICULARS [ANX - I] |
2006-2007 |
2007-2008 |
2008-2009 |
2009-2010 |
2010-2011 |
2011-2012 |
|
|
|
|
Projected |
|||
|
Gross Income |
|
|
|
|
|
|
|
Capacity utilization |
100 % |
100 % |
100 % |
100 % |
100 % |
100 % |
|
No. of buffaloes |
42 |
60 |
80 |
160 |
160 |
160 |
|
Yield buffalo per day |
10 |
10 |
10 |
10 |
10 |
10 |
|
Total yield per day [liters] |
420 |
600 |
800 |
1600 |
1600 |
1600 |
|
Yield at capacity utilization |
420 |
600 |
800 |
1600 |
1600 |
1600 |
|
Institutional sale volume |
420 |
600 |
800 |
1600 |
1600 |
1600 |
|
Institutional sale rate |
25.5 |
26.00 |
26.00 |
26.00 |
29.00 |
29.00 |
|
Total sales per day |
10710 |
15600 |
20800 |
41600 |
46400 |
46400 |
|
No of worrying days |
365 |
365 |
365 |
365 |
366 |
367 |
|
Total annual sales [INR Millions] |
3.909 |
5.694 |
10.712 |
15.184 |
16.982 |
17.029 |
|
Annual sales [INR Millions] |
3.909 |
5.694 |
10.712 |
15.184 |
16.982 |
17.029 |
Note : Capacity utilization is assumed at 70 %
in the first year, to gradually increase to 100 % by the fourth year.
The no. of buffaloes is kept uniform
throughout the projected period.
|
PARTICULARS [ANX
- 2] |
2006-2007 |
2007-2008 |
2008-2009 |
2009-2010 |
2010-2011 |
2011-2012 |
|
|
|
|
Projected |
|||
|
OTHER INCOME |
1 |
1 |
1 |
2 |
3 |
4 |
|
Capacity Utilisation |
42 |
60 |
80 |
160 |
160 |
160 |
|
No. of Buffaloes
|
4.2 |
8 |
8 |
16 |
16 |
16 |
|
No. of Buffaloes
Discarded |
8800 |
9680 |
10648 |
11712.8 |
12884.08 |
14172.49 |
|
|
0.037 |
0.077 |
0.085 |
0.187 |
0.206 |
0.227 |
|
Total other
income [INR Millions] |
0.037 |
0.077 |
0.085 |
0.187 |
0.206 |
0.227 |
Note :
It is assumed that every year, 10 % of the
total no. of Buffaloes would be Unfit for yield and hence would have to be
discarded.
The sale price of the discarded buffaloes is
assumed to increase by 10 % over the years.
|
PARTICULARS [ANX
- 3] |
2006-2007 |
2007-2008 |
2008-2009 |
2009-2010 |
2010-2011 |
2011-2012 |
|
|
|
|
Projected |
|||
|
Catle Feed |
|
|
|
|||
|
OTHER INCOME |
|
|
|
|
|
|
|
Capacity Utilisation |
1 |
1 |
1 |
2 |
3 |
4 |
|
No. of Buffaloes
|
42 |
60 |
80 |
160 |
160 |
160 |
|
Feed cost per
day |
70 |
90 |
95 |
95 |
95 |
95 |
|
No. of working
days |
365 |
365 |
365 |
365 |
365 |
365 |
|
Total feed cost
[INR Million] |
1.073 |
1.971 |
3.914 |
6.688 |
6.688 |
6.688 |
|
Cost of feed [INR
Million] |
1.073 |
1.971 |
3.914 |
6.688 |
6.688 |
6.688 |
Note :
The cost of feed is assumed to increase by 10
% over years.
The no. of Buffaloes is kept uniform throught the projected period.
|
PARTICULARS [ANX
– 4] |
2006-2007 |
2007-2008 |
2008-2009 |
2009-2010 |
2010-2011 |
2011-2012 |
|
Medicine
Expenses |
|
|
Projected |
|||
|
OTHER INCOME |
|
|
|
|
|
|
|
Capacity Utilisation |
1 |
1 |
1 |
2 |
3 |
4 |
|
No. of Buffaloes
|
42 |
60 |
80 |
160 |
160 |
160 |
|
Cost per day |
11 |
15 |
15 |
15 |
15 |
15 |
|
No. of working
days |
365 |
365 |
365 |
365 |
365 |
365 |
|
Total feed cost
[INR Million] |
0.169 |
0.329 |
0.618 |
0.876 |
0.876 |
0.876 |
|
Cost of Drugs
[INR Million] |
0.169 |
0.329 |
0.618 |
0.876 |
0.876 |
0.876 |
Note :
The cost of medicines is assumed to increase
by 10 % over the years.
The no. of buffaloes is kept uniform throught the period.
|
PARTICULARS [ANX
- 5] |
2006-2007 |
2007-2008 |
2008-2009 |
2009-2010 |
2010-2011 |
2011-2012 |
|
|
|
|
Projected |
|||
|
|
|
|
|
|
|
|
|
SELLING AND ADMINISTRATIVE EXPENSES |
|
|
|
|
|
|
|
NO. OF BUFFALOES |
42 |
60 |
160 |
160 |
160 |
160 |
|
BUFFALOES / PER WORKER |
8 |
8 |
16 |
20 |
20 |
20 |
|
NO. OF WORKERS |
5 |
7.50 |
16.00 |
20.00 |
20.00 |
20.00 |
|
WAGES PER WORKER / MONTH |
3000 |
3300 |
3630 |
3993 |
4392.3 |
4831.53 |
|
TOTAL WAGES PER MONTHS |
15750.00 |
24750.00 |
58080.00 |
79860.00 |
87846.00 |
96630.60 |
|
|
|
|
|
|
|
|
|
NO. OF ADM. STAFF |
1 |
2 |
4 |
6 |
7 |
8 |
|
SALARY PER STAFF / MONTH |
5000 |
5750 |
6612.5 |
7604.375 |
8745.031 |
10056.79 |
|
TOTAL SALARY PER MONTH |
5000 |
11500 |
26450 |
45626.25 |
61215.22 |
80454.29 |
|
|
|
|
|
|
|
|
|
TOTAL SALARY AND WAGES / MONTHS |
20750 |
36250 |
84530 |
125486 |
149061 |
177085 |
|
ANNUAL SALARY AND WAGES |
249000 |
435000 |
1014360 |
1505835 |
1788735 |
2125019 |
|
ANNUAL BONUS |
20750 |
36250 |
84530 |
125486 |
149061 |
177085 |
|
TOTAL SALARY AND WAGES COST |
269750 |
471250 |
1098890 |
1630321 |
1937796 |
2302104 |
|
|
|
|
|
|
|
|
|
TELEPHONE CHARGES |
30240 |
33264 |
36290.4 |
43908.48 |
52690.18 |
63228.21 |
|
CONVEYANCE EXPENSES |
15120 |
36632 |
40295.2 |
48354.24 |
58025.09 |
69630.11 |
|
ELECTRICITY CHARGES |
30240 |
43264 |
47590.4 |
57108.48 |
68530.18 |
82236.21 |
|
REPAIRS AND MAINTENANCE |
15120 |
41632 |
45795.2 |
54954.24 |
65945.09 |
79134.11 |
|
MISCELLANEOUS EXPENSES |
22680 |
49948 |
54942.8 |
65931.36 |
79117.63 |
94941.16 |
|
TOTAL EXPENSES |
113400 |
204740 |
425214 |
270256.8 |
324308.2 |
389169.8 |
|
|
|
|
|
|
|
|
|
TOTAL SELLING AND ADM. EXPENSES |
383150 |
675990 |
1524104 |
1901578 |
2262104 |
2691273 |
|
SELL AND ADM. EXP [INR MILLIONS] |
0.383 |
0.676 |
1.524 |
1.902 |
2.262 |
2.691 |
Note :
The wages and salary cost is increase by 15 %
annually
The annual bonus payable is at one month wages
/ Salary
Staff welfare expenses is 15 % of he total
wages and salary cost.
Other selling and administrative expenses are
increased by 10 % annually.
|
PARTICULARS [ANX
– 6] |
2006-2007 |
2007-2008 |
2008-2009 |
2009-2010 |
2010-2011 |
2011-2012 |
|
|
|
|
Projected |
|||
|
OTHER EXPNESES |
|
|
|
|
|
|
|
Capacity Utilisation |
1 |
1 |
1 |
1 |
1 |
1 |
|
No. of Buffaloes
|
42 |
60 |
80 |
160 |
160 |
160 |
|
No. of Buffaloes
Discarded |
4.2 |
6 |
8 |
16 |
16 |
16 |
|
Replacement cost
/ Buffaloes [INR Millions] |
0.035 |
0.038 |
0.042 |
0.047 |
0.051 |
0.056 |
|
Total other
income [INR Millions] |
0.147 |
0.231 |
0.338 |
0.745 |
0.820 |
0.902 |
|
Other income
[INR Millions] |
0.147 |
0.231 |
0.338 |
0.745 |
0.820 |
0.902 |
Note :
It is assumed that every year 10 % of he total
no. of Buffaloes would be unfit for yield and hence would have to be discarded.
The cost price of the replenished Buffaloes is
assumed to increase by 10 % over the years.
Rs in Millions
|
PARTICULARS [ANX
– 7] |
2006-2007 |
2007-2008 |
2008-2009 |
2009-2010 |
2010-2011 |
2011-2012 |
|
|
Projected |
|||||
|
Land |
|
|
|
|
|
|
|
Opening Balance
/ Purchase |
0 |
0 |
0 |
0 |
0 |
0 |
|
Less :
Depreciation |
0 |
0 |
0 |
0 |
0 |
0 |
|
Closing Balance |
0 |
0 |
0 |
0 |
0 |
0 |
|
|
|
|
|
|
|
|
|
Shed
[Construction Area] |
|
|
|
|
|
|
|
Cost of Shed |
0.200 |
|
0.400 |
0.400 |
0.400 |
0.400 |
|
Opening Balance
/ Purchase |
0.180 |
0.400 |
1.360 |
1.224 |
1.102 |
0.991 |
|
Less :
Depreciation |
0.018 |
0.040 |
0.136 |
0.122 |
0.110 |
0.099 |
|
Closing Balance |
0.162 |
0.360 |
1.224 |
1.102 |
0.991 |
0.892 |
|
|
|
|
|
|
|
|
|
Furniture and
Fixture |
|
|
|
|
|
|
|
Cost of F &
F |
0.050 |
|
|
|
|
|
|
Opening Balance
/ Purchase |
0.043 |
0.036 |
0.031 |
0.026 |
0.022 |
0.019 |
|
Less :
Depreciation |
0.006 |
0.005 |
0.005 |
0.004 |
0.003 |
0.003 |
|
Closing Balance |
0.036 |
0.031 |
0.026 |
0.022 |
0.019 |
0.016 |
|
|
|
|
|
|
|
|
|
Live Stock
[Buffaloes] |
|
|
|
|
|
|
|
Cost of |
1.400 |
2.100 |
2.800 |
2.800 |
2.800 |
2.800 |
|
Opening Balance
/ Purchase |
1.200 |
1.180 |
1.172 |
3.092 |
3.092 |
3.092 |
|
Less :
Depreciation |
0.720 |
0.708 |
1.087 |
1.855 |
1.855 |
1.855 |
|
Closing Balance |
0.480 |
0.472 |
0.085 |
1.237 |
1.237 |
1.237 |
|
|
|
|
|
|
|
|
|
Total |
1.423 |
1.616 |
2.563 |
4.342 |
4.216 |
4.102 |
|
Depreciation for
the year |
0.744 |
0.753 |
1.228 |
1.982 |
1.969 |
1.957 |
|
Closing Balance |
0.678 |
0.863 |
1.335 |
2.361 |
2.247 |
2.145 |
Note :
Depreciation is provided as per the rates
provided under the income tax act 1961
COST OF PROJECT
|
PARTICULARS |
Rs in Millions |
|
|
|
|
COST OF CONSTRUCTION |
|
|
|
|
|
1.075 |
|
|
|
Buffaloes @Rs.
0.040 Million per |
3.200 |
|
|
|
|
TOTAL PROJECT COST |
4.275 |
|
|
|
|
MEANS OF FINANCE |
|
|
1.125 |
|
|
|
|
3.150 |
|
|
|
|
TOTAL MEANS OF FINANCE |
4.275 |
ASSUMPTIONS
Underlying Estimates
- Milk Production Estimated 10 Liters per day per
- Depreciation for live stock i.e. Buffalo 60 % on WDV
- Other fixed assets 10 %
- Expenditure for Buffalo Rs. 145 per day
which includes Feed, Medicine etc
- Bank interest estimated at 15 %
QUOTATION
|
S. No. |
Particulars |
Rate / |
Qtny. |
Amount Rs. In Millions |
|
|
|
|
|
|
|
1 |
Buffalos |
36000 |
80 |
2.880 |
|
2 |
Transportation Per |
3500 |
80 |
0.280 |
|
3 |
Feed and Medicine |
500 |
80 |
0.040 |
|
|
|
|
Total Rs. |
3.200 |
DEBT SALES
COVERAGE RATIO
Rs in Millions
|
Particulars |
2008-09 |
2009-10 |
2010-11 |
2011-12 |
|
|
|
|
|
|
|
Net Profit |
1.903 |
1.741 |
3.409 |
3.301 |
|
Depreciation |
1.228 |
1.982 |
1.969 |
1.957 |
|
Tern Loan Interest |
0.236 |
0.410 |
0.290 |
0.110 |
|
Total [A] |
3.367 |
4.133 |
5.668 |
5.368 |
|
Instalment on Term Loan |
0.000 |
1.050 |
1.050 |
1.050 |
|
Interest on Term Loan |
0.236 |
0.410 |
0.290 |
0.110 |
|
Total [B] |
0.236 |
1.460 |
1.340 |
1.160 |
|
DSCR A/B |
1.427 |
0.283 |
0.423 |
0.463 |
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.94 |
|
|
1 |
Rs.82.84 |
|
Euro |
1 |
Rs.65.95 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |
|