MIRA
INFORM REPORT
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Report Date : |
22.10.2008 |
IDENTIFICATION DETAILS
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Name : |
LORDSONS AGRO OVERSEAS PRIVATE LIMITED |
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Registered Office : |
135, 1st Floor, Trade Centre, 18, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
05.05.2004 |
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Com. Reg. No.: |
10-16597 |
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CIN No.: [Company
Identification No.] |
U51109MP2004PTC016597 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BPLL00744C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Agro Chemicals and Pesticides |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 11000 |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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Comments : |
Subject is a 4 years old company having moderate track. Company’s profitability
is under pressure and continue to incur losses. Trade relations are fair. No
complaints have been heard against the subject. The company can be considered for small to mediocre business dealings
with slight caution, initially. |
INFORMATION PARTED BY
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Name : |
Mr. Pralad Gupta |
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Designation : |
Accountant |
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Date : |
21.10.2008 |
LOCATIONS
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Registered Office : |
135, 1st Floor, Trade Centre, 18, South Tukoganj,
Indore-452001, Madhya Pradesh, India |
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Tel. No.: |
91-731-2526223 |
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Mobile No.: |
91-731-2526223 |
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E-Mail : |
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Area : |
1500 sq.ft ( Owned) |
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Factory : |
648/ 5, Rangwasa, Rau District, Indore, Madhya Pradesh, India |
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Mobile No.: |
91-9893137501 |
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Branch Office : |
Raipur, Shop No. 4, Ravi Cycle Complex, Jivan Bima Marg, Raipur |
DIRECTORS
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Name : |
Mr. Brijesh Kumar Shukla |
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Designation : |
Director |
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Address : |
86, Bijli Nagar, Indore-452001, Madhya Pradesh, India |
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Date of Birth/Age : |
20.05.19.58 |
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Qualification : |
MSC |
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Date of Appointment : |
05.05.2004 |
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Name : |
Mr. Lakhanlal Chandrakar |
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Designation : |
Director |
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Address : |
77-78, Girdhar Nagar, Indore-452018, Madhya Pradesh, India |
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Date of Birth/Age : |
01.09.1959 |
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Qualification : |
BSC |
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Date of Appointment : |
22.03.2006 |
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Name : |
Mr. Mahesh Kumar Choudhary |
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Designation : |
Director |
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Address : |
24, Devendra Nagar, Annpurna Road, Indore-452004, Madhya Pradesh,
India |
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Date of Birth/Age : |
19.08.1965 |
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Qualification : |
BA |
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Date of Appointment : |
22.03.2006 |
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Name : |
Mr. Jai Kumar Jain |
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Designation : |
Director |
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Address : |
186, Bijli Nagar, Indore-452001, Madhya Pradesh, India |
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Name : |
Mr. Rameshwar Dayal Shukla |
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Designation : |
Director |
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Address : |
86, Bijli Nagar, Indore-452001, Madhya Pradesh, India |
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Qualification : |
HSC |
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Date of Appointment : |
05.05.2004 |
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Name : |
Mrs. Laxmi Shukla |
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Designation : |
Director |
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Address : |
86, Bijli Nagar, Indore-452001, Madhya Pradesh, India |
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Date of Birth/Age : |
01.11.1963 |
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Qualification : |
Graduate |
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Date of Appointment : |
05.05.2004 |
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Name : |
Mr. Milind Deshmukh |
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Designation : |
Director |
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Address : |
14/12, Alaknanda Nagar, Indore, Madhya Pradesh, India |
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Date of Birth/Age : |
31.01.1968 |
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Qualification : |
MA |
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Date of Appointment : |
05.05.2004 |
KEY EXECUTIVES
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Name : |
Mr. Pralad Gupta |
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Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Brajesh Kumar Shukla |
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6266 |
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Rameshwar Dayal Shukla |
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22660 |
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Lakshmi Shukla |
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1000 |
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Vishnu Pathak |
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1000 |
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Veen Pathak |
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1000 |
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Milind Deshmukh |
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2266 |
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Mohan Chand Mishra |
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1266 |
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Sidhishri Shukla |
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650 |
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Brijendra Kumar Shukla |
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1266 |
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Kiran Shukla |
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1266 |
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Brikant Shukla |
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2933 |
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Girish Sharma |
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1266 |
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Babita Shukla |
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1266 |
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Brijkishore Shukla |
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1266 |
As on 27.03.2006
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List of Allottees |
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No. of Shares Allotted |
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Brijesh Kumar Shukla |
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1266 |
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Rameshwar Dayal Shukla |
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1266 |
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Milind Deshmukh |
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1266 |
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Mohan Chan Mishra |
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1266 |
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Sidhishri Shukla |
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850 |
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Brijendra Kumar Shukla |
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1266 |
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Kiran Shukla |
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1266 |
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Brijkant Shukla |
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2933 |
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Girish Sharma |
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1266 |
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Babita Shukla |
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1266 |
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Brijkishore Shukla |
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1266 |
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Kashinath Tiwari |
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1266 |
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Kalpana Shukla |
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1250 |
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Anup Tiwari |
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1216 |
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Suresh Chand Tiwari |
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650 |
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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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Agro Chemicals and Pesticides |
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Brand Names : |
·
ELMT ·
ELFEN |
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Terms : |
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Selling : |
Credit ( 30-90 Days) |
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Purchasing : |
Credit ( 30-90 Days) |
PRODUCTION STATUS
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Particulars |
Unit |
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Actual
Production |
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Element |
KG |
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269421 |
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Elfen |
KG |
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66500 |
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Neelkanth |
KG |
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131100 |
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Quinalphos |
KG |
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6450 |
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Elion |
KG |
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4005 |
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Elprid |
KG |
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272 |
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Elmida |
KG |
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2898 |
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Elvit |
KG |
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2400 |
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Scorpid |
KG |
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11420 |
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Richarge Plus |
KG |
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400 |
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Zubet |
KG |
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600 |
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Endoplus |
KG |
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1000 |
GENERAL INFORMATION
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Customers : |
Retailers, Dealers and Distributors |
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No. of Employees : |
25 |
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Bankers : |
·
Bank of India, 575/ 1, M.G Road, Indore-452001,
Madhya Pradesh, India ·
M.P.
Financial Corporation, A. B. Road, Indore, Madhya Pradesh, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Anil Kamal and Company Chartered Accountant |
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Address : |
35, Jaora Compund, Indore-452001, Madhya Pradesh, India |
CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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94031 |
Equity Shares |
Rs. 10/-
each |
Rs. 0.940
Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.940 |
0.940 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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1.293 |
1.445 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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2.233 |
2.385 |
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LOAN FUNDS |
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1] Secured Loans |
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4.786 |
2.984 |
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2] Unsecured Loans |
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0.094 |
0.000 |
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TOTAL BORROWING |
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4.880 |
2.984 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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7.113 |
5.369 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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5.273 |
5.404 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.242 |
0.192 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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2.560
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0.433 |
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Sundry Debtors |
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1.424
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0.484 |
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Cash & Bank Balances |
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0.380
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0.147 |
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Other Current Assets |
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0.011
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0.000 |
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Loans & Advances |
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0.119
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0.018 |
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Total
Current Assets |
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4.494
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1.082 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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2.612
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1.275 |
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Provisions |
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0.289
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0.042 |
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Total
Current Liabilities |
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2.901
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1.317 |
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Net Current Assets |
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1.593
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[0.235] |
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MISCELLANEOUS EXPENSES |
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0.005 |
0.008 |
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TOTAL |
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7.113 |
5.369 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Sales Turnover |
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9.880 |
2.885 |
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Other Income |
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0.011 |
0.001 |
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Total Income |
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9.891 |
2.886 |
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Profit/(Loss) Before Tax |
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[0.202] |
[0.428] |
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Provision for Taxation |
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0.050 |
0.663 |
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Profit/(Loss) After Tax |
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[0.152] |
[0.235] |
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Total Expenditure |
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10.093 |
3.314 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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[1.54] |
[8.14] |
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Net Profit Margin (PBT/Sales) |
(%) |
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[2.04] |
[14.84] |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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[2.07] |
[6.59] |
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Return on Investment (ROI) (PBT/Networth) |
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[0.09] |
[0.18] |
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Debt Equity Ratio (Total Liability/Networth) |
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3.48 |
1.80 |
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Current Ratio (Current Asset/Current Liability) |
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1.55 |
0.82 |
LOCAL AGENCY FURTHER INFORMATION
Trade References:
·
Magmani Organics, Ahamedabad
·
Akola Chemical India Limited, Mumbai
Bankers Charges
Report as per Registry
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Name of the company |
LORDSONS AGRO OVERSEAS PRIVATE LIMITED |
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Presented By |
Jai Kumar Jain,
Director |
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1) Date and description of instrument creating the change |
1. Agreement to
create Mortgage and Loan Agreement dated 20.01.2005 2. General Deed
of Hypothecation dated 20.01.2005 3. Trust Receipt
Dated 20.01.2005 4. Afidivate ‘B’
and ‘D’ and Letter ‘E’ of Shri B.K.Shukla and shri J.K Jain dated 20.01.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 6.500
Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Under Agreement to
create mortgage and Loan Agreement the Company shall create equitable
mortgage by deposit of title deeds of Free hold Land situated at 685/ 5,
RAngawas, Industrial Area, Rau District, Indore, Admeasuring 47038 sq.ft
together with all buildings, now standing thereon more particularly described
in first schedule hereundedr. Hypothecation of
all plant and machinery and equipments belong to the Company forming part of
the factory situated at 648 5 Rangavsa Industrial Area, Rau Indore more
particularly described in Schedule I to the Genral Deed of Hypothecation |
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4) Gist of the terms and conditions and extent and operation of the charge. |
1. The charge
operates as first charge on the Plant and Machinery referred to in Column -3
above 2. rate of
Interest 12% p.a 3/. Repayable in
24 quarterly installments commencing from February, 2006 First 8
installments of Rs. 0.200 Million each Next 8
installments of Rs. 0.300 Million each Next 7
installments of Rs. 0.310 Million each Last installments
of Rs. 0.330 Milllion |
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5) Name and Address and description of the person entitled to the charge. |
M.P. Financial
Corporation, A. B. Road, Indore, Madhya Pradesh, India |
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6) Date and brief description of instrument modifying the charge |
Not Applicable |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Applicable |
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Corporate
identity number of the company |
U51109MP2004PTC016597 |
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Name of the
company |
LORDSONS AGRO OVERSEAS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
135, 1st Floor, Trade Centre, 18, South Tukoganj,
Indore-452001, Madhya Pradesh, India |
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This form is for |
Creation of
Charge |
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Type of charge |
Hypothecation |
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Particular of
charge holder |
Bank of India,
575/1, M.G. Road, Indore-452001, Madhya Pradesh, India |
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Nature of
instrument creating charge |
Hypothecation Cum
Loan Agreement (Plant and Machinery, Stock and Book Debts) dated 06.06.2006 |
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Date of
instrument Creating the charge |
06.06.2006 |
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Amount secured by
the charge |
Rs. 2.200
Millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
Hypothecation of
All stocks and Book Debts owned by the company To maintain
margin of security in favour of the bank 25% against Raw Material, Finished
Goods in Process, 40% Agaisnt Book Debts Rate of Interst
0% above BPLR i.e. 11.25% p.a. with monthly rest Repayable on
demand |
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Particulars of
the property charged |
Stock in trade
and Book Debts |
Fixed Assets:
· Freehold Land
· Tube Well
· Factory Building
· Plant and Machinery
· Office Equipments
· Computer
· Furniture and Fixture
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.48.83 |
|
UK Pound |
1 |
Rs.85.12 |
|
Euro |
1 |
Rs.65.86 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
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--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 |
|
28 |
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 |
|