MIRA INFORM REPORT
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Report Date : |
16.04.2011 |
IDENTIFICATION DETAILS
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Name : |
AMUL INSECTICIDES PRIVATE LIMITED |
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Registered
Office : |
401/A, Sahajanand Complex, Oppshreenath Travels, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
07.05.2002 |
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Com. Reg. No.: |
04-040686 |
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CIN No.: [Company Identification
No.] |
U24211GJ2002PTC040686 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
AHMA04828F |
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PAN No.: [Permanent Account No.] |
AAECA0782E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing and Trading of Pesticides Products |
RATING & COMMENTS
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MIRA’s Rating : |
B (29) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 9000 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small company in its field, it’s scale of activities are limited,
trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for small business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION DECLINED BY
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Name : |
Mr. Hemant Nayak |
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Designation : |
Manager |
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Contact No.: |
91-9426228484 |
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Date : |
15.04.2011 |
LOCATIONS
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Registered Office : |
401/A, Sahajanand Complex, Oppshreenath Travels, Shahibaug Road, Ahmedabad
– 380004, Gujarat, India |
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Website : |
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Factory : |
C1B-112/4, GIDC Estate, Kalol Dist, Gandhinagar - 382725, |
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Tel. No.: |
91-2764-221000 |
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Fax No.: |
91-79-25632197 |
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DIRECTORS
AS ON : 29.09.2010
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Name : |
Mr. Sureshbhai Patel |
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Designation : |
Director |
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Address : |
401/A, Sahajanand Complex, Oppshreenath Travels, Shahibaug Road,
Ahmedabad – 380004, Gujarat, India |
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Name : |
Mrs. Jyotsanaben Patel |
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Designation : |
Director |
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Address : |
401/A, Sahajanand Complex, Oppshreenath Travels, Shahibaug Road,
Ahmedabad – 380004, Gujarat, India |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON : 29.09.2010
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Names of Shareholders |
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No. of Shares |
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Sureshbhai Patel |
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5000 |
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Jyotsanaben Patel |
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5000 |
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Total |
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10000 |
AS ON : 29.09.2010
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and Trading of Pesticides Products |
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GENERAL INFORMATION
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No. of Employees : |
Not Divulged by the management |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
P A Patel and Company Chartered Accountant |
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Address : |
302/C, Sahajanand Complex, Shahibauh, Ahmedabad – 380004, |
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CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
1.260 |
0.260 |
0.260 |
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3] Reserves & Surplus |
0.921 |
0.757 |
0.603 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2.281 |
1.117 |
0.963 |
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LOAN FUNDS |
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1] Secured Loans |
2.133 |
0.909 |
0.483 |
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2] Unsecured Loans |
3.361 |
3.435 |
2.212 |
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TOTAL BORROWING |
5.494 |
4.344 |
2.695 |
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DEFERRED TAX LIABILITIES |
0.045 |
0.044 |
0.044 |
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TOTAL |
7.820 |
5.505 |
3.702 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.238 |
2.713 |
2.384 |
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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 |
0.594
|
0.079 |
0.235 |
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Sundry Debtors |
4.851
|
3.138 |
3.838 |
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Cash & Bank Balances |
0.115
|
0.216 |
0.260 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
2.495
|
2.200 |
0.674 |
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Total
Current Assets |
8.055
|
5.633 |
5.007 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
3.279 |
2.767 |
3.565 |
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Other Current Liabilities |
0.000
|
0.000 |
0.000 |
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Provisions |
0.210
|
0.093 |
0.151 |
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Total
Current Liabilities |
3.489
|
2.862 |
3.716 |
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Net Current Assets |
4.566
|
2.771 |
1.291 |
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MISCELLANEOUS EXPENSES |
0.016 |
0.021 |
0.027 |
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TOTAL |
7.820 |
5.505 |
3.702 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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Income |
11.179 |
8.059 |
10.231 |
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Other Income |
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TOTAL (A) |
11.179 |
8.059 |
10.231 |
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Less |
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Office Expenses |
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Administrative Expenses |
10.585 |
7.559 |
9.799 |
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Advertising Expenses |
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TOTAL (B) |
10.585 |
7.559 |
9.799 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
0.594 |
0.500 |
0.432 |
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Less |
FINANCIAL
EXPENSES (D) |
0.285 |
0.230 |
0.159 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.308 |
0.269 |
0.272 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.114 |
0.095 |
0.068 |
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PROFIT BEFORE
TAX (E-F) (G) |
0.194 |
0.173 |
0.203 |
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Less |
TAX (I) |
0.030 |
0.019 |
0.023 |
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PROFIT AFTER TAX
(G-I) (J) |
0.163 |
0.153 |
0.179 |
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BALANCE CARRIED
TO THE B/S |
0.163 |
0.153 |
0.179 |
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Earnings Per
Share (Rs.) |
16.40 |
15.35 |
17.92 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.45
|
1.89 |
1.74 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.73
|
2.14 |
1.98 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.71
|
2.07 |
2.74 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.15 |
0.21 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.94
|
6.45 |
6.65 |
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Current Ratio (Current Asset/Current Liability) |
|
2.30
|
1.96 |
1.34 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors
Details :
(Rs.
In Millions )
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Creditors for raw Material |
0.251 |
0.215 |
0.490 |
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Creditors for Phorate |
0.063 |
0.063 |
0.251 |
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Creditors for Expenses |
2.918 |
2.489 |
2.789 |
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Creditors for Asset Purchase |
0.047 |
0.000 |
0.035 |
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Total |
3.279 |
2.767 |
3.565 |
Review of
Operations :
This is the Eighth year of Operation of company. Their company is engaged
in manufacturing and trading of pesticides products. The company has achieved
moderate turnover during the year. The company hopes to have better financial
results in the forthcoming years.
Form : 8
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Corporate
identity number of the company |
U24211GJ2002PTC040686 |
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Name of the
company |
AMUL INSECTICIDES
PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
401/A Sahajanand
Complex Oppshreenath Travels, |
|
This form is for |
Creation of
charge |
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Type of charge |
Immovable
property Any interest in
immovable property |
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Particular of
charge holder |
Bank Of India,
Shahibaug Branch Ground Floor Sahajanand Complex, Nr Polic Commissioner
Office Shahibaug, Ahmedabad – 380004, Gujarat, India |
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Nature of
instrument creating charge |
Mortgage Deed
(Without Possession) Executed On 19.06.2010 For Creation Of Mort On Immov
Prop In Favour Of Bank To Secure Fb Credit Facilities Aggregating Of Rs.
7.500 Millions Granted M/S Nri Crop Science Registered With Sub Registrar Sro
Kalol - Gandhinagar Registered At Sr No 6068 Of Book No 1 On 19.06.2010
Containing 10 (Ten) Pages. |
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Date of instrument
Creating the charge |
19/06/2010 |
|
Amount secured by
the charge |
Rs. 7.500
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest CC Stk / Cc Bk Dts
- 2% Over Bplr Present 14.00% P. A. With Monthly Rests Basis Or Such Other
Rate As May Be Prescribed By Bk Fm Time To Time Terms of repayment Cc Stocks - On
Demand / Annual Review Cc Book Debts -
On Demand / Annual Review Margin CC STOCK - 25% CC BOOK DEBTS -
40% Extent and operation of the charge First &
Exclusive Mort Ch On All Immovable Properties Being Land, Bldg, Sheds,
Cabins, Store Rooms, Strctures, Fixed Plant & Mach Of The Company To
Secure The Fb Cash Credit Aggregating Of Rs 75.00 Lacs Granted To M/S Nri
Crop Science Alongwith Interest, Addl Int, Penal Int, Liquidated Damages,
Costs, Charges, Commission & All Other Amt Due To The Bank From Time To
Time Of What So Ever Nature. Other Amt in millions CC Stock 750.000 CC BK Dts (150.000) --------- Total Max 750.000 |
|
Short particulars
of the property charged (Including location of the property) |
All That Lh Land Lying
and Being At Mouje Saij Ta Kalol Rev S No 157/Paiki Plot/Shed No
Cib-112+113/4 and 112/5 Adm 1505.60 Sq Mtrs Situated Within Kalol Ind Area
Gidc Kalol In The Reg Dist Gandhinagr |
Fixed Assets :
- Computer
- Electric Installation
- Equipments
- Furniture Fittings
- Motor Cycles
- Plant and Machinery
- TVS Scooter
- Printer
- Motor Cycle GJ 18 AK 3823
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 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. 44.52 |
|
|
1 |
Rs. 72.72 |
|
Euro |
1 |
Rs. 64.41 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
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|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--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 |
|
29 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.