MIRA
INFORM REPORT
|
Report Date : |
30.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
NIVIA BIOTECH |
|
|
|
|
Registered
Office : |
404, Global Chambers, Adarsh Nagar, Andheri (West), Mumbai-400053, |
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|
Country : |
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|
|
Financials (as
on) : |
31.03.2010 |
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|
|
|
Year of
Establishment : |
2003 |
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|
|
|
PAN No.: [Permanent Account No.] |
AGYPK7281K |
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|
Legal Form : |
Sole Proprietory Concern |
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|
|
Line of Business
: |
Manufacturer, Exporter and Supplier of Micro nutrient premixes of
vitamins, minerals, amino acids, multivitamin tablets and animal feed
supplement. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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|
Comments : |
Subject seems to be established concern in its field. Trade relations
are fair. Business is active. The valuation report and networth statement
seems to be satisfactory. It would be advisable to take adequate securities while dealing with
the subject. |
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
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. M B Datar |
|
Designation : |
Senior Manager- Accounts and Finance |
|
Contact No.: |
91-9987672864 |
|
Date : |
29.04.2011 |
LOCATIONS
|
Registered Office : |
404, Global Chambers, Adarsh Nagar, Andheri (West), Mumbai-400053, |
|
Tel. No.: |
91-22-26744742 |
|
Mobile No.: |
91-9987672864 (Mr. M B Datar) |
|
Fax No.: |
91-22-26744740 |
|
E-Mail : |
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|
Area : |
Owned |
|
|
|
|
Factory : |
Plot No. 92B, Unadangar, Lakhamapur, Dindori, Nashik-422202, |
|
Tel. No.: |
91-2557-250015 |
|
Fax No.: |
91-2557-250015 |
|
Area : |
Owned |
SOLE PROPRIETOR
|
Name : |
Dr. Nikhil Arun Kelkar |
|
Designation : |
Proprietor |
|
Address : |
404, Global Chambers, Adarsh Nagar, Andheri (West), Mumbai-400053, |
|
Date of Birth/Age : |
16.12.1978 |
KEY EXECUTIVES
|
Name : |
Mr. M B Datar |
|
Designation : |
Senior Manager- Accounts and Finance |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Supplier of Micro nutrient premixes of
vitamins, minerals, amino acids, multivitamin tablets and animal feed supplement.
|
|
|
|
|
Terms : |
|
|
Selling : |
Credit (30 Days) |
|
|
|
|
Purchasing : |
Credit ( 30 Days) |
GENERAL INFORMATION
|
Suppliers : |
·
Amal Offset Products (Private) Limited ·
Kalayatan Cargo ·
Mukesh Paper Print ·
Studio Art Process ·
Kris Flexipacks Private Limited ·
Chintamani Plastics ·
Connell Bros Company ( ·
J. Punamchand and Company ·
Kapadia Gumchem Industries ·
Pamilu Agro Processing Company ·
Taste Master Flavours Private Limited ·
Vardhaman Enterprises |
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Customers : |
End Users |
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No. of Employees : |
Approximately 27 (Office 4, Factory 8, Casual 15) |
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Bankers : |
Corporation Bank, SSI Branch, Marol, Andheri, Mumbai-400006, |
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Facilities : |
|
|
|
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Agharkar and Company Chartered Accountant |
|
Address : |
31-B, Jayprakash Nagar, Purshottam Bunglow, Goregaon (East), Mumbai, |
|
Tel. No.: |
91-22-26862743 |
CAPITAL STRUCTURE
As on 31.03.2010
|
Particulars |
Amount Rs. in Millions |
Particulars |
Amount Rs. in Millions |
|
To Income Tax Paid |
0.010 |
By opening Balance |
1.935 |
|
To Drawings |
0.070 |
By Revaluation of Assets |
7.302 |
|
|
|
By Capital Introduced |
0.200 |
|
To Balance Carried Forward |
9.661 |
By Net Profit |
0.304 |
|
|
|
|
|
|
Total |
9.741 |
Total |
9.741 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietor’s Capital |
9.661 |
1.936 |
1.838 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
9.661 |
1.936 |
1.838 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.623 |
|
|
2] Unsecured Loans |
0.500 |
0.500 |
1.800 |
|
|
TOTAL BORROWING |
0.500 |
0.500 |
2.423 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
10.161 |
2.436 |
4.261 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
8.935 |
2.611 |
3.102 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.130 |
0.130 |
0.230 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.616
|
0.099 |
0.084 |
|
|
Sundry Debtors |
2.759
|
0.023 |
1.171 |
|
|
Cash & Bank Balances |
0.107
|
0.201 |
0.040 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.494
|
0.277 |
0.100 |
|
Total
Current Assets |
3.976
|
0.600 |
1.395 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1.515
|
0.332 |
0.025 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
1.365
|
0.573 |
0.441 |
|
Total
Current Liabilities |
2.880
|
0.905 |
0.466 |
|
|
Net Current Assets |
1.096
|
[0.305] |
0.929 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
10.161 |
2.436 |
4.261 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
9.342 |
5.845 |
1.350 |
|
|
|
Other Income |
1.073 |
0.345 |
1.248 |
|
|
|
TOTAL |
10.415 |
6.190 |
2.598 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
6.343 |
3.540 |
1.183 |
|
|
|
Salary |
0.270 |
0.834 |
0.396 |
|
|
|
Travelling and Conveyance |
0.896 |
0.101 |
0.000 |
|
|
|
Repairs and Maintenance |
0.253 |
0.078 |
0.045 |
|
|
|
Security Charges |
0.132 |
0.000 |
0.000 |
|
|
|
Staff Welfare |
0.028 |
0.018 |
0.004 |
|
|
|
Other Expenses |
1.904 |
1.152 |
0.476 |
|
|
|
TOTAL |
9.826 |
5.723 |
2.104 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.589 |
0.467 |
0.494 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.285 |
0.383 |
0.468 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
0.304 |
0.084 |
0.026 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.92
|
1.36 |
1.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.25
|
1.44 |
1.93 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.35
|
2.62 |
0.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.04 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.35
|
0.73 |
1.57 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.38
|
0.66 |
2.99 |
LOCAL AGENCY FURTHER INFORMATION
COMPUTATION OF TOTAL INCOME
ASSESSMENT YEAR
2009-10
DR. NIKHIL ARUN KELKAR
(Prporietor)
(Rs. in Millions)
|
Particulars |
Amount |
Amount |
Amount |
|
INCOME FROM SALARY |
|
|
|
|
Salary Received from Hexagon Nutrition
Private Limited |
|
|
0.407 |
|
Less: Allowance to extent exempt u/s 10 |
|
|
-- |
|
|
|
|
|
|
Conveyance Allowance |
|
0.010 |
|
|
Medical Allowance |
|
0.015 |
|
|
|
|
|
|
|
Less: Tax on employment |
|
0.003 |
0.027 |
|
|
|
|
0.379 |
|
|
|
|
|
|
INCOME FROM BUSINESS |
|
|
|
|
Net Profit Nivia Biotech |
|
|
0.084 |
|
|
|
|
|
|
CAPITAL GAINS |
|
|
|
|
Long Term Capital Gain |
|
0.040 |
|
|
(-) Extent u/s 10 (38) |
|
0.040 |
0.000 |
|
|
|
|
|
|
INCOME FROM OTHER SOURCES |
|
|
|
|
S.B. Interest |
|
0.008 |
|
|
S.B. Interest from ASB Bank |
|
0.198 |
|
|
|
|
|
|
|
Dividend Income |
0.027 |
|
|
|
Less: Exempt u/s 10(34) |
0.027 |
0.000 |
|
|
|
|
|
|
|
Minor child Income clubbed u/s 64 (1A) |
|
|
|
|
S.B. Interest |
|
0.001 |
0.207 |
|
|
|
|
|
|
GROSS TOTAL INCOME |
|
|
0.670 |
|
|
|
|
|
|
Deduction Under Chapter VI-A Under Section 80C |
|
|
|
|
PPF, PF |
0.091 |
|
|
|
LIC |
0.041 |
|
|
|
|
0.132 |
0.100 |
0.100 |
|
|
|
|
|
|
Total Taxable Income |
|
|
0.570 |
|
|
|
|
|
|
SAY |
|
0.570 |
|
|
|
|
|
|
|
Tax on Above |
|
|
0.076 |
|
Add: Education Cess |
|
|
0.002 |
|
Gross Tax Payable |
|
|
0.078 |
|
|
|
|
|
|
Less: TDS from Hexagon Nutrition Private
Limited |
|
0.015 |
|
|
With holding tax from ASB Bank |
|
0.047 |
|
|
TDS against from 16A |
|
0.006 |
0.068 |
|
|
|
|
0.010 |
|
Add: Interest u/s 234B |
|
0.000 |
|
|
Interest u/s 234C |
|
0.001 |
0.001 |
|
|
|
|
|
|
Less: |
|
|
0.001 |
|
|
|
|
|
|
Tax payable / Refund Due |
|
|
0.000 |
------------------------------------------------------------------------------------------------------------------------------
PROJECTED PROFITABILITY
STATEMENT
(Rs. in Millions)
|
Particulars |
31.03.2011 |
31.03.2012 |
31.03.2013 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
Capacity Utilization |
|
|
|
|
|
|
|
Gross Sales- Domestic |
55.000 |
68.750 |
103.125 |
128.906 |
161.133 |
201.416 |
|
Gross Sales- Export |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Gross Sales- Total |
55.000 |
68.750 |
103.125 |
128.906 |
161.133 |
201.416 |
|
Less Excise Duty |
3.735 |
6.420 |
9.630 |
12.037 |
15.047 |
18.809 |
|
|
|
|
|
|
|
|
|
NET SALES |
51.265 |
62.330 |
93.495 |
116.869 |
146.086 |
182.607 |
|
|
|
|
|
|
|
|
|
% age rise/ fall in net sales as compared to
the previous year |
|
21.58 |
50.00 |
25.00 |
25.00 |
25.00 |
|
|
|
|
|
|
|
|
|
Other operating Income |
|
|
|
|
|
|
|
Export Incentives |
-- |
-- |
-- |
-- |
-- |
-- |
|
Others |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Operating Income- Total |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Total Operating Income |
51.265 |
62.330 |
93.495 |
116.869 |
146.086 |
182.607 |
|
Cost of Sales |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Raw Material Consumed |
|
|
|
|
|
|
|
- Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
- Indigenous |
35.225 |
42.385 |
64.510 |
81.808 |
102.260 |
127.825 |
|
Stores Consumed |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Power and fuel |
1.800 |
1.980 |
2.277 |
2.619 |
3.011 |
3.463 |
|
Direct Labour and Wages |
1.530 |
1.683 |
2.104 |
2.525 |
3.029 |
3.635 |
|
Other Manufacturing Expenses |
2.190 |
2.409 |
3.011 |
3.614 |
4.336 |
5.203 |
|
Depreciation |
1.226 |
2.083 |
1.799 |
1.554 |
1.344 |
1.100 |
|
SUB TOTAL |
41.971 |
50.540 |
73.701 |
92.119 |
113.981 |
141.227 |
|
Increase/ Decrease in WIP |
-- |
-- |
-- |
-- |
-- |
-- |
|
Increase/ Decrease in FG |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Total Cost of Sales |
41.971 |
50.540 |
73.701 |
92.119 |
113.981 |
141.227 |
|
Selling, General and Administration Expenses |
3.845 |
5.298 |
6.623 |
8.278 |
10.348 |
12.935 |
|
Operating Profit Before Interest |
5.449 |
6.492 |
13.171 |
16.472 |
21.757 |
28.446 |
|
Interest |
|
|
|
|
|
|
|
- On Working Capital |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
- On Term Loans |
0.000 |
1.985 |
1.545 |
1.104 |
0.663 |
0.223 |
|
Sub- Total |
0.000 |
1.985 |
1.545 |
1.104 |
0.663 |
0.223 |
|
Operating Profit After Interest |
5.449 |
4.507 |
11.626 |
15.368 |
21.094 |
28.223 |
|
Non- operating Income |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Non-operating Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net of Non- Operating Income and Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit Before Tax |
5.449 |
4.507 |
11.626 |
15.368 |
21.094 |
28.223 |
|
Provision for taxation |
-- |
-- |
-- |
-- |
-- |
-- |
|
Tax Provision Current |
1.798 |
1.487 |
3.837 |
5.071 |
6.961 |
9.314 |
|
Tax Provision Deferred |
-- |
-- |
-- |
-- |
-- |
-- |
|
Sub Total |
1.798 |
1.487 |
3.837 |
5.071 |
6.961 |
9.314 |
|
Profit After Tax |
3.651 |
3.020 |
7.790 |
10.296 |
14.133 |
18.909 |
|
Dividend |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Cash Profit |
4.877 |
5.103 |
9.589 |
11.850 |
15.477 |
20.009 |
|
Cash Profit Plus Interest on Term Loan (A) |
4.877 |
7.088 |
11.134 |
12.954 |
16.140 |
20.232 |
|
Installments due under Term Loans: |
|
|
|
|
|
|
|
- Existing Term Loans |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
- Proposed Term Loans |
2.320 |
2.320 |
2.320 |
2.320 |
2.320 |
0.000 |
|
Interest on Term Loans |
0.000 |
1.985 |
1.545 |
1.104 |
0.663 |
0.223 |
|
Sub- Total (B) |
2.320 |
4.305 |
3.865 |
3.424 |
2.983 |
0.223 |
|
DSCR A/B |
2.10 |
1.65 |
2.88 |
3.78 |
5.41 |
90.73 |
|
Average DSCR |
4.2304373 |
|
|
|
|
|
PROJECTED BALANCE SHEET
(Rs. in Millions)
|
Particulars |
31.03.2011 |
31.03.2012 |
31.03.2013 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
Current Liabilities |
|
|
|
|
|
|
|
Bank Borrowings |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Installment of Term Loans/ Deferred Payment Credits/
Debentures/ deposits/ redeemable preference shares/ due within one year) |
2.320 |
2.320 |
2.320 |
2.320 |
2.320 |
2.320 |
|
Creditors for purchase |
6.945 |
8.371 |
10.604 |
13.448 |
16.810 |
21.012 |
|
Provision for Taxation |
1.798 |
1.487 |
3.837 |
5.071 |
6.961 |
9.314 |
|
Other Current Liabilities |
2.071 |
2.456 |
3.842 |
4.803 |
6.004 |
7.504 |
|
Sub- Total (A) |
13.134 |
14.634 |
20.603 |
25.642 |
32.094 |
37.830 |
|
|
|
|
|
|
|
|
|
Term Liabilities |
|
|
|
|
|
|
|
Debentures |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Preference Share Capital |
0.000 |
0.000 |
0.000 |
0.000 |
|
0.000 |
|
Term Loans from Banks/ FIs |
9.280 |
6.960 |
4.640 |
2.320 |
2.320 |
0.000 |
|
Deferred Tax Liability |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Unsecured Loans from friends and relatives |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Term Liabilities |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Sub- Total (B) |
9.280 |
6.960 |
4.640 |
2.320 |
2.320 |
0.000 |
|
|
|
|
|
|
|
|
|
NET WORTH |
|
|
|
|
|
|
|
Equity Share Capital |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Partners Capital/ Capital brought in by proprietor |
17.258 |
20.277 |
20.277 |
20.277 |
20.277 |
20.277 |
|
Revaluation Reserve |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Reserve and Surplus |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit and Loss Account balance |
0.000 |
0.000 |
7.790 |
18.086 |
32.219 |
51.129 |
|
Total Net Worth (C) |
17.258 |
20.277 |
28.067 |
38.364 |
52.497 |
71.406 |
|
Total Capital + Liabilities (A+B+C) |
39.672 |
41.872 |
53.310 |
66.326 |
86.911 |
109.236 |
|
|
|
|
|
|
|
|
|
Current Assets |
|
|
|
|
|
|
|
Cash and Bank Balance |
0.216 |
0.440 |
0.442 |
0.550 |
0.728 |
0.538 |
|
Investments |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Receivables |
4.521 |
5.651 |
8.476 |
10.595 |
13.244 |
16.555 |
|
Inventory of Raw Materials, WIP and
Consumable Spares |
9.129 |
10.758 |
15.369 |
19.211 |
24.014 |
30.018 |
|
Consumables |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Advance payment to Suppliers |
0.000 |
0.500 |
0.500 |
1.500 |
3.000 |
1.500 |
|
Advance Payment of Taxes |
1.750 |
1.450 |
3.500 |
5.000 |
6.500 |
9.000 |
|
Other Current Assets |
0.800 |
1.900 |
2.000 |
2.500 |
2.800 |
3.600 |
|
Sub- Total (A) |
16.416 |
20.699 |
30.287 |
39.356 |
50.286 |
61.210 |
|
|
|
|
|
|
|
|
|
Fixed Assets |
|
|
|
|
|
|
|
Gross Block |
25.617 |
25.617 |
25.617 |
25.617 |
25.617 |
25.617 |
|
Less: Depreciation |
2.361 |
4.444 |
6.243 |
7.797 |
9.141 |
10.241 |
|
Net Block |
23.255 |
21.172 |
19.373 |
17.819 |
16.475 |
15.375 |
|
Capital WIP |
-- |
-- |
-- |
-- |
-- |
-- |
|
Sub- Total (B) |
23.255 |
21.172 |
19.373 |
17.819 |
16.475 |
15.375 |
|
Non- Current Assets |
|
|
|
|
|
|
|
Investment in Group concern |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Investment |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Receivables overdue for more than six months |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Deferred Tax Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other non-current assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Sub- Total (C) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Intangible Assets (D) |
-- |
-- |
-- |
-- |
-- |
-- |
|
Total Assets (A+B+C+D) |
39.671 |
41.871 |
53.311 |
66.326 |
86.911 |
109.236 |
PROJECTED CASH FLOW
STATEMENT
(Rs. in Millions)
|
Particulars |
31.03.2011 |
31.03.2012 |
31.03.2013 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
SOURCES OF CASH |
|
|
|
|
|
|
|
Profit before Interest and tax less
adjustment for non-cash revenues |
-- |
6.492 |
13.171 |
16.472 |
21.757 |
28.446 |
|
Depreciation |
-- |
2.083 |
1.799 |
1.554 |
1.344 |
1.100 |
|
Preliminary Expenses written off |
-- |
-- |
-- |
-- |
-- |
-- |
|
Loss on sale of fixed assets |
-- |
-- |
-- |
-- |
-- |
-- |
|
Issue of Equity Shares |
-- |
3.020 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Issue of Preference Shares |
-- |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Issue of Debentures |
-- |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Raising of Long Term loans |
-- |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Raising of other long term unsecured loans/
deposits etc. |
-- |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Sales of Fixed Assets |
-- |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Increase in current Liabilities |
-- |
1.811 |
3.620 |
3.804 |
4.563 |
3.383 |
|
Decrease in Current Assets |
-- |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Increase in Short term borrowings |
-- |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Decrease in non-current assets/ investments |
-- |
0.000 |
3.650 |
5.500 |
11.000 |
12.500 |
|
Sub- Total (A) |
-- |
13.406 |
22.240 |
27.330 |
38.664 |
45.429 |
|
|
|
|
|
|
|
|
|
APPLICATIONS OF CASH |
|
|
|
|
|
|
|
Redemption of Redeemable Preference Shares |
-- |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Redemption of Debentures |
-- |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Repayment of Long Term Loans |
-- |
2.320 |
2.320 |
2.320 |
0.000 |
2.320 |
|
Repayment of Long term unsecured loans/
deposits etc |
-- |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Purchase of Fixed Assets |
-- |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Decrease in Current Liabilities |
-- |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Increase in Current Assets |
-- |
4.283 |
9.588 |
9.069 |
10.930 |
10.924 |
|
Increase in non-current assets/ investments |
-- |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Interest Paid |
-- |
1.985 |
1.545 |
1.104 |
0.663 |
0.223 |
|
Tax Paid |
-- |
1.798 |
1.487 |
3.837 |
5.071 |
6.961 |
|
Dividend Paid |
-- |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Sub- Total (B) |
-- |
10.386 |
14.940 |
16.330 |
16.664 |
20.429 |
|
Net Surplus (A-B) |
-- |
3.019 |
7.300 |
11.000 |
22.000 |
25.001 |
|
Opening Cash Balance |
-- |
0.216 |
0.440 |
0.442 |
0.550 |
0.728 |
|
Closing Cash Balance |
-- |
0.440 |
0.442 |
0.550 |
0.728 |
0.538 |
|
|
|
|
|
|
|
|
|
Business Projections and DSCR (Company only) |
|
|
|
|
|
|
|
Capacity Utilisation (%) |
|
|
|
|
|
|
|
Net |
51.265 |
62.330 |
93.495 |
116.869 |
146.086 |
182.607 |
|
PAT |
3.651 |
3.020 |
7.790 |
10.296 |
14.133 |
18.909 |
|
Cash Profit |
4.877 |
5.103 |
9.589 |
11.850 |
15.477 |
20.009 |
|
Add: Interest on TL |
0.000 |
1.985 |
1.545 |
1.104 |
0.663 |
0.223 |
|
Total (A) |
4.877 |
7.088 |
11.134 |
12.954 |
16.140 |
20.232 |
|
Installments due under TLs |
|
|
|
|
|
|
|
- Existing TLs |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
- Proposed TLs |
2.320 |
2.320 |
2.320 |
2.320 |
2.320 |
2.320 |
|
Interest on TLs |
0.000 |
1.985 |
1.545 |
1.104 |
0.663 |
0.223 |
|
Total (B) |
2.320 |
4.305 |
3.865 |
3.424 |
2.983 |
0.223 |
|
DSCR (A/B) |
2.10 |
1.65 |
2.88 |
3.78 |
5.41 |
90.73 |
|
Average DSCR |
4.23043732 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DSCR Scenarios for a company (As distinguished from a project) |
|
|
|
|
|
|
|
% fall in revenues |
|
|
|
|
|
|
|
Total operating income (Snocked downwards) |
51.265 |
62.330 |
93.495 |
116.869 |
146.086 |
182.607 |
|
Cost of Sales + SGA |
45.816 |
55.838 |
80.324 |
100.397 |
124.329 |
154.162 |
|
Operating Profit Before Interest |
5.449 |
6.492 |
13.171 |
16.472 |
21.757 |
28.446 |
|
Interest |
0.000 |
1.985 |
1.545 |
1.104 |
0.663 |
0.223 |
|
Operating Profit after Interest |
5.449 |
4.507 |
11.626 |
15.368 |
21.094 |
28.223 |
|
Net of non operating income/ expenses |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit before Tax |
5.449 |
4.507 |
11.626 |
15.368 |
21.094 |
28.223 |
|
Provision for Tax |
1.798 |
1.487 |
3.837 |
5.071 |
6.961 |
9.314 |
|
PAT |
3.651 |
3.020 |
7.790 |
10.296 |
14.133 |
18.909 |
|
Installments of Term Loans/ Deferred payment
credits/ Debentures/ Deposits (due within one year) |
2.320 |
2.320 |
2.320 |
2.320 |
2.320 |
0.000 |
|
Interest |
0.000 |
1.985 |
1.545 |
1.104 |
0.663 |
0.223 |
|
DSCR (for a fall in Op Rev) |
2.10 |
1.65 |
2.88 |
3.78 |
5.41 |
9.073 |
|
Average DSCR |
4.23 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Scenario for a rise in operating expenses |
|
|
|
|
|
|
|
% rise in Opening Expenses |
|
|
|
|
|
|
|
Total Operating Income |
51.265 |
62.330 |
93.495 |
116.869 |
146.086 |
182.607 |
|
Cost of Sales + SGA (Shocked ) |
45.816 |
55.838 |
80.324 |
100.397 |
124.329 |
154.162 |
|
Operating Profit Before Interest |
5.449 |
6.492 |
13.171 |
16.472 |
21.757 |
28.446 |
|
Interest |
0.000 |
1.985 |
1.545 |
1.104 |
0.663 |
0.223 |
|
Operating Profit after Interest |
5.449 |
4.507 |
11.626 |
15.368 |
21.094 |
28.223 |
|
Net of non operating income/ expenses |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit Before Tax |
5.449 |
4.507 |
11.626 |
15.368 |
21.094 |
28.223 |
|
Provision fro Tax |
1.798 |
1.487 |
3.837 |
5.071 |
6.961 |
9.314 |
|
PAT |
3.651 |
3.020 |
7.790 |
10.296 |
14.133 |
18.909 |
|
Installments of Term Loans/ Deferred payment
credits/ Debentures/ Deposits (due within one year) |
2.320 |
2.320 |
2.320 |
2.320 |
2.320 |
0.000 |
|
Interest |
0.000 |
1.985 |
1.545 |
1.104 |
0.663 |
0.223 |
|
DSCR (for a fall in Op Rev) |
2.10 |
1.65 |
2.88 |
3.78 |
5.41 |
9.073 |
|
Average DSCR |
4.23 |
|
|
|
|
|
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT
OF THE PLANT AND MACHINERY
|
Name of the company/ Owners |
Nivia Bio Tech |
|
|
|
|
Address of Admin/ Registered office |
Mumbai |
|
|
|
|
Brief Description of Assets |
Plant and Machinery |
|
|
|
|
Location of Assets |
Gut No. 92B, Village Lakhampur, Taluka,
Dindori, District Nashik |
|
|
|
|
Purpose of Valuation |
To Assess the fair market value of the said
property as on 31.03.2010 for the purpose of reassessing the value of the
assets of the owners. |
|
|
|
|
Date of Time of Inventory and Inspection |
21.09.2010 |
|
|
|
|
Name/ s of person/s present |
Mr. Suresh Joshi – A V Shetty and Associate |
|
|
|
|
Fair Market Value |
Rs. 3.000 Millions |
|
|
|
|
Distress |
Rs. 2.500 Millions |
|
Name of Machinery |
Quantity (In Nos.) |
Fair Market
Value Rs. in Millions |
|
Sampling Booth |
1 |
0.048 |
|
Domion Printing Machine |
1 |
0.175 |
|
Sewing Machine |
1 |
0.002 |
|
Sifter (GMP) |
1 |
0.041 |
|
Deshumidifier |
1 |
0.039 |
|
Blender ( 500 Kgs) |
1 |
0.241 |
|
Planetary Mixer |
1 |
0.130 |
|
Hand Operated Round Sealing Machine |
2 |
0.005 |
|
Conveyor Belt Small Size |
2 |
0.006 |
|
S.S. Table Small Size |
1 |
0.004 |
|
S S Table Big Size |
1 |
0.005 |
|
Hydraulic Pallets |
1 |
0.008 |
|
Deep Freezer |
1 |
0.026 |
|
Stand Sealing Machine |
1 |
0.006 |
|
Balance (100 KG) |
1 |
0.007 |
|
Balance ( 150 KG) |
1 |
0.010 |
|
Balance (6 Kg) |
1 |
0.004 |
|
Nitrogen Cylinder |
1 |
0.002 |
|
Hand Sealing Machine |
1 |
0.002 |
|
Fluid Bed Drier |
1 |
0.293 |
|
Multimill (S.S.) |
1 |
0.067 |
|
Compression Machine (12 Station) |
2 |
0.160 |
|
Compression Machine ( 16 Station) |
1 |
0.175 |
|
Compression Machine ( 25 Station) |
1 |
0.282 |
|
Air Compressor |
1 |
0.024 |
|
Coating PAN |
1 |
0.042 |
|
Blister Pack Machine |
1 |
0.241 |
|
Tablet Brush Machine |
1 |
0.002 |
|
Fly Catcher |
1 |
0.006 |
|
Label Machine |
4 |
0.128 |
|
F.F. S. Machine |
1 |
0.296 |
|
Conveyor Belt Big Size |
4 |
0.022 |
|
Scrubber Machine (Floor Cleaned) |
1 |
0.039 |
|
A.C. Unit 8.5 Ton |
1 |
0.042 |
|
Air Handling Unit |
1 |
0.026 |
|
A.C. Unit 2 Ton |
1 |
0.058 |
|
15 HP D.G. Set |
3 |
0.093 |
|
125 HP D.G. Set |
1 |
0.260 |
|
Total |
|
3.007 |
|
Say |
|
3.000 |
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT OF
IMMOVABLE PROPERTY
|
PART- I |
|
|
GENERAL QUESTIONNAIRE |
|
|
Purpose for which valuation made |
To assess the “fair market value” of the
said property as on 31.03.2010 for the purpose of reassessing the value of
the assets of the owners. |
|
|
|
|
Date on which valuation made |
21.09.2010 |
|
|
|
|
Name of the owner/ owners |
Nivia Bio Tech |
|
|
|
|
If the property is under joint ownership/
co-ownership, share of each owner. Is the share undivided |
A partnership firm having registered/
administrative office at Mumbai |
|
|
|
|
Brief description of the property |
The
Said property comprises of industrial
premises situated at land bearing Gut No. 92B, Village Lakhampur, Taluka
Dindori, District Nashik Bounded as follows |
|
|
|
|
Location, Street, Ward No./ Survey / Plot
No. of Land |
On or Towards East: Balance land of above
gut no. belonging to Hexagon Nutrition Private Limited, on or towards West:
balance land of above gut no. 92 and beyond Gut No. 112 and 449, On or towards North: Gut No. 115, On or towards South: |
|
|
|
|
Is the property situated in residential
commercial/ mixed/ industrial area |
Industrial area located at about 50 km – 55
km distance form |
|
|
|
|
Proximity to civic amenities like schools,
offices, hospitals, markets, cinemas etc. |
Available at about 10km – 11km distance. |
|
|
|
|
Means and proximity to surface communication
by which the locality is served |
Public modes of transport available. |
|
|
|
|
LAND |
|
|
Area of land supported by documentary proof
shape dimension and physical features |
Industrial premises having land totally
admeasuring about 40R and factory building and other structure totally
admeasuring about 1035 sqm. Built up area. |
|
|
|
|
Is it free-hold or lease land |
Freehold |
|
|
|
|
Does the land fall in area included in Town
Planning Scheme or any development of Government or any statutory body? If
so, give particulars |
Falls within the limits of Lakhampur Gram
Panchayat |
|
|
|
|
IMPROVEMENTS |
|
|
a)
Is the building owner
occupied, tenant, or both. b)
If partly occupied,
specify portion and extent of area under owner occupation |
Industrial premises wholly owned by the
owners and presently occupied for conduction their business. |
|
|
|
|
RENTS |
|
|
Given details of water and electricity
charges if any to be borne by the owner |
Borne by Owners |
|
|
|
|
Who has to bear the cost of electricity for
lighting of common space like entrance, hall, stairls, passages, compound
etc. |
Maintained by owners |
|
|
|
|
What is the amount of property tax? Who has
to bear it? Give details with documentary proof |
Borne by the owners. |
|
|
|
|
COST OF CONSTRUCTION |
|
|
Year of Commencement of construction and
year of completion |
2000-01 |
TECHNICAL DETAILS FOR THE
PREMISES
|
No. of Floor and height of each floor |
Single storeyed structure having additional
floor heights |
|
|
|
|
Plinth area-floor-wise |
Industrial premises having land totally
admeasuring about 40R. and factory building and other structure admeasuring
about 1035 sqm. Built up area. |
|
|
|
|
Year of Construction |
2000-01 |
|
|
|
|
Estimate future life |
About 40 years with proper maintenance |
|
|
|
|
Type of construction –load bearing wals/
R.C.C. Frame/ Steel Frame |
R.C.C. Framed |
|
|
|
|
Type of Foundation |
R.C.C. |
|
|
|
|
Walls |
|
|
a) Basement And Plinth |
9” thick brick Masonry |
|
b) Ground Floor |
9” thick brick Masonry |
|
c) Super Structure above |
9” thick brick Masonry |
|
|
|
|
Partitions |
9” thick brick Masonry |
|
|
|
|
Door and Windows (Floor Wise) |
m.s. rolling shutters and m.s. windows with
aluminium frame glazed windows |
|
|
|
|
Flooring (Floor-wise) |
Kota Stone flooring in the said premises |
|
|
|
|
Finishing (Floor-wise) |
Sandface cement plaster with paint finish
externally and neeru finish cement plaster with paint finish internally |
|
|
|
|
Roofing and terracing |
Flat Roof. |
|
|
|
|
Internal wiring-surface or conduit |
Conduit wiring |
|
|
|
|
Class of Fittings superior/ ordinary/ poor |
Ordinary |
|
|
|
|
Sanitary installation |
Toilet block provided |
|
|
|
|
Class of Fittings superior coloured/ superior/
white/ ordinary |
Ordinary |
|
|
|
|
Compound Wall |
Masonry wall provided with gates |
|
|
|
|
Underground sump |
Provided |
|
|
|
|
Type of Construction |
R.C.C |
|
|
|
|
Overhead Tank |
Provided |
|
|
|
|
Where located |
On Terrace |
|
|
|
|
Type of Construction |
R.C.C. |
|
|
|
|
Roads and paving within the compound |
Asphalt approach road |
|
|
|
|
Sewage disposal/ whether connected to public
sewers. If septic tanks provided, no. and capacity |
Septic tank of adequate capacity provided |
VALUATION REPORT
Under instructions form the clients, they
visited the property situated at land bearing Gut. No. 92B, village Lakhampur, Taluka
Dindori, District Nashik, owned by Nivia Bio Tech. The purpose of visit was top
inspect the said property so as to asses the ‘ fair market value’ as on
31.03.2010 and thus prepare its valuation report fo the purpose of reassessing
the value of the assets of the owners.
“The fair market value” of any immovable
property is the warranted price expressed in terms of money which the said
property is estimated to bring, at any given time and place, where buyers and
sellers act without compulsion and with full knowledge of all the uses to which
the property is adapted and for which it is capable of being used. The
warranted price is further contingent on the seller ability to convey title
with all rights inherent in the property and allowing sufficient time for the
transaction to mature normally under cash or cash equivalent terms of sale.”
Description:
The said property comprises of industrial
premises land totally admeasuring about 40R. and factory building and other
structure which are single storeyed R.C.C framed structures, having additional
floor height, totally admeasuring about 1035 sqm. Built up area. The structure was constructed in 2000-01 and
its estimated future life is of about 40 year with property maintenance. The
premises is provided with
Location:
The said property is situated in an industrial
area located at About 50 km- 55km distance form
Amenities:
All the basic infrastructural facilities like
roads, power, water and telecommunication have been provide for,with civic
amenities like schools, markets, hospitals, hotels and banks available at about
10 km -11km distance and public modes of transport being available.
The ‘fair market value’ of the said property
as on 31.03.2010 has thus been assessed based on local enquires used “land and
building construction” method and taking into account the factors mentioned as
above and briefly listed below.:
a)
Extent and survey Number.
b)
Location, accessibility,
distance from the centre of the town
c)
Developments-
infrastructure, compound wall, paving etc.
d)
Market Value of Land- as
estimated by local enquires
e)
Building- Type of
construction, age, future life, depreciation
f)
Dues/ Outgoings-
presently borne by the owners.
The ‘Fair market value’ of the said property
as on 31.03.2010 has been worked out as under:
1) Value of land having all the
infrastructural facilities 40R @ Rs. 75000/R = Rs. 3.000 Millions
2) Value of factory building/ structure taking
into account depreciation 1035 sqm. @ RS. 50000/ sqm = Rs. 5.175 Millions
Total : Rs. 8.175 Millions
Therefore the best of the knowledge and
belief, the ‘fair market value’ of the said property as on 31.03.2010 is Rs.
8.175 Millions and the ‘distress sale value’ of the said property is Res. 6.000
Millions and the “insurable value” (Replacement cost of the structure) is Rs.
7.500 Millions as on the date of valuation (21.09.2010) and the same maybe
considered to be true and fair.
------------------------------------------------------------------------------------------------------------------------------
Fixed Assets:
·
Land
·
Factory Buildings
·
Site Development
·
Electrification
·
Plant and Machinery
·
Computers and Printers
·
Furniture and Fixtures
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.44.38 |
|
|
1 |
Rs.73.88 |
|
Euro |
1 |
Rs.65.83 |
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.