MIRA
INFORM REPORT
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Report Date : |
10.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
GOBIND EXPELLER COMPANY PRIVATE LIMITED |
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Formerly Known As : |
GOBIND EXPELLER PRIVATE LIMITED |
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Registered Office : |
# 645, Industrial Area B, Ludhiana-141003, Punjab |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
30.07.1996 |
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Com. Reg. No.: |
16-18571 |
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CIN No.: [Company
Identification No.] |
U29299PB1996PTC018571 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Petroleum, Oil and Related Products |
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 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having moderate. Trade relations
are fair. Payments are slow but correct. The company can be considered normal for business dealings at usual
trade terms and conditions with slight caution. |
LOCATIONS
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Registered Office/ Factory : |
# 645, Industrial Area B, Ludhiana-141003, Punjab, India |
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Tel. No.: |
91-161-2531591/2530711 |
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Mobile No.: |
91-9872700018/ 9815400018 |
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Fax No.: |
91-161-2537973 |
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E-Mail : |
Nikhil_nanu@rediffmail.com
, info@gobindexpeller.com , gobindia@glide,net.in |
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Website : |
DIRECTORS
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Name : |
Mr. Jagtar Singh |
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Designation : |
Director |
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Name : |
Mrs. Tajinder Kaur |
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Designation : |
Director |
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Name : |
Mr. Amarinder Singh |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mr. Raj Kumar Gupta |
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Designation : |
Company Secretary |
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Address : |
#171, Sector 16, Panchkula, India |
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Tel. No.: |
91-172-2569620 |
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Mobile No.: |
91-9417871699 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.09.2005
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Names of Shareholders |
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No. of Shares |
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Jagrtar Singh |
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1500 |
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Tajinder Kaur |
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44359 |
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Amarinder Singh |
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101000 |
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Jaspal Kaur |
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150000 |
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Total |
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296859 |
Equity Share Breakup (Percentage of Total Equity)
As on 29.09.2007
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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 Petroleum, Oil and Related Products |
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Products : |
Seed Preparatory
Section
Oil Cleaning
Section
Oil Extracting Section
Automation
Spares Pilot Scale
Plant |
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Exports : |
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Products : |
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GENERAL
INFORMATION
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Bankers : |
State Bank of
India, Small Enterprise Credit Cell, Zonal Office, Civil Lines, Ludhiana,
Punjab, India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Romesh K Aggarwal and Associates Chartered Accountant |
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Address : |
B-XX 197/1, G.T. Road, Miller Ganj, Ludhiana-141001, Punjab, India |
CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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300000 |
Equity Shares |
Rs. 10/- each |
Rs. 3.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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296859 |
Equity Shares |
Rs. 10/-
each |
Rs. 2.968
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
2.969 |
0.010 |
0.010 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.243 |
0.123 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
3.212 |
0.133 |
0.010 |
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LOAN FUNDS |
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1] Secured Loans |
2.528 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.150 |
1.369 |
0.030 |
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TOTAL BORROWING |
2.678 |
1.369 |
0.030 |
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DEFERRED TAX LIABILITIES |
0.069 |
0.031 |
0.000 |
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TOTAL |
5.959 |
1.533 |
0.040 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.008 |
0.626 |
0.000 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
14.473
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1.990 |
0.000 |
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Sundry Debtors |
4.631
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3.131 |
0.000 |
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Cash & Bank Balances |
2.192
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0.197 |
0.001 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
0.929
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0.000 |
0.000 |
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Total
Current Assets |
22.225
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5.318 |
0.001 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
17.260
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3.255 |
0.000 |
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Provisions |
0.020
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1.163 |
0.010 |
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Total
Current Liabilities |
17.280
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4.418 |
0.010 |
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Net Current Assets |
4.945
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0.900 |
[0.009] |
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MISCELLANEOUS EXPENSES |
0.006 |
0.007 |
0.008 |
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Profit and Loss Account |
0.000 |
0.000 |
0.041 |
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TOTAL |
5.959 |
1.533 |
0.040 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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9.490 |
7.586 |
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Other Income |
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0.007 |
0.006 |
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Total Income |
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9.497 |
7.592 |
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Profit/(Loss) Before Tax |
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0.195 |
0.185 |
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Provision for Taxation |
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0.075 |
0.062 |
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Profit/(Loss) After Tax |
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0.120 |
0.123 |
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Expenditures : |
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Financial Charges |
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0.036 |
0.000 |
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Depreciation & Amortization |
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0.120 |
0.020 |
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Other Expenditure |
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9.146 |
7.387 |
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Total Expenditure |
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9.302 |
7.407 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
1.26
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1.62 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
2.05
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2.43 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.84
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3.11 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.06
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1.39 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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6.21
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43.51 |
4.00 |
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Current Ratio (Current Asset/Current Liability) |
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1.29
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1.20 |
0.10 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
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Corporate
identity number of the company |
U29299PB1996PTC018571 |
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Name of the
company |
GOBIND EXPELLER COMPANY PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
# 645, Industrial Area B, Ludhiana-141003, Punjab, India |
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This form is for |
Creation of
Charge |
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Type of charge |
Hypothecation Simple Mortgage |
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Particular of
charge holder |
State Bank of
India, Small Enterprise Credit Cell, Zonal Office, Civil Lines, Ludhiana,
Punjab, India |
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Nature of
instrument creating charge |
Agreement of Loans
and hypothecation dated 05.2006 exarted at Ludhiana |
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Date of
instrument Creating the charge |
12.05.2006 |
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Amount secured by
the charge |
Rs. 5.700
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
: CC at SBAR i.e. 10.75% p.a. and SLC at 1% above normal interest with
monthly rests/repayment: CC on demand, SLC credit Plus asper baulk
intstgalment instruction/ Margins- stocks : 25% and BD : 40% over period 90
days |
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Particulars of the
property charged |
Factory Land And
Building as collateral security measuring 6700 sq yards at Kayuanwal Road,
Ludhiana |
AS PER WEBSITE
Profile:
Since 1943 subject manufactures and exports technically advanced machines
for oil mill industries. They manufacture complete range of oil mill equipments
from preparation of seed to filteration and refining of the oil. The
machineries can be used for seeds like Cotton seed, Karanja, Sesame, Linseed
and other oil seeds. Gobind a name known for break through and high efficiency
in Oil mill industry started its operation in1943 in Lahore and first expeller
was made in 1945 for Cottonseed crushing by the founder of the company ‘MR BAWA
SINGH’. Later on the company shifted its operation in Ludhiana, where it
started again in 1968 and thereafter there was nothing stopped back. By
producing machines close to the market, they understand what the customer needs
to gain a competitive edge. This ability to match the products to the market
requirements allows them to produce innovative, high performance machines at a
reasonable price. In about 6 Decades Gobind has processed more than 25 Oil
seeds and fat bearing seeds and nuts available all over the Globe. Working full
time in this field, the Professional staff get expertise in oil extraction of
almost all the Oil bearing seeds. Gobind’s staff of Professionals, with their
knowledge in Oil Mill sector, can erect commission and install plants and train
their operators anywhere in the world.
In early 90’s the company penetrated in the market of Africa, and later
on in South East Asia and South America. And at present, the company is one of
the major share holders for exports of Vegetable Oil Mills from India. So Gobind’s
continuous Research and Developments in the field of Oil Milling assure that
their customers will keep on relying on their products in the years to come.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.89 |
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UK Pound |
1 |
Rs.78.36 |
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Euro |
1 |
Rs.63.33 |
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 |
5 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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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 |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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40 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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