MIRA
INFORM REPORT
|
Report Date : |
29.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
H. M. TRADING COMPANY |
|
|
|
|
Registered
Office : |
T – 243, Ahata Kidara Quresh Nagar, Sadar Bazar, Delhi – 110006 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011
(Provisional) |
|
|
|
|
Date of
Incorporation : |
01.04.1997 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.8.559 Millions |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABFH2663K |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
|
|
|
|
Line of Business
: |
Manufacturing and Trading of Frozen Meat and Meat Products. (Agro
based products under MOFPI) |
|
|
|
|
No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established partnership concern having satisfactory
track. Trade relations are reported as fair. Business is active. The valuation
report and networth statement provided seems to be satisfactory. Payments are
reported to be usually correct. However, 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. Mohammed Nadeem |
|
Designation : |
Partner |
|
Contact No.: |
9288814728 |
|
Date : |
25.08.2011 |
LOCATIONS
|
Registered Office : |
T – 243, Ahata Kidara Quresh Nagar, Sadar Bazar, Delhi – 110006, India
|
|
Tel. No.: |
91-11-23530401/ 23523868 |
|
Mobile No.: |
91-9288814728/ 9811150073 (Mr. Mohammed
Nadeem) |
|
Fax No.: |
91-11-23530501 |
|
Area : |
126 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
Plot No. D-1, Phase – I, Industrial Area, UPSIDC, Masori Gulaothi Road, Ghaziabad, Uttar
Pradesh, India |
PARTNERS
|
Name : |
Mr. Mohammed Nadeem |
|
Designation : |
Partner |
|
Address : |
T – 243, Ahata Kidara Quresh Nagar, Sadar Bazar, Delhi – 110006, India
|
|
Date of Birth/Age : |
03.04.1968 |
|
Qualification : |
Graduate |
|
Experience : |
Having more than 20 years of experience dealing with Meat products,
Slaughter Houses etc. Presently supplying raw meat /frozen meat to large
Indian meat exporters like Hind Agro, Allana Group, M. K. Overseas etc.
Presently doing business in the Partnership Firm H. M. Trading Co”. |
|
PN No.: |
ABAPN7770R |
|
Date of Appointment : |
01.04.1997 |
|
|
|
|
Name : |
Mr. Mohammed Muqeem |
|
Designation : |
Partner |
|
Address : |
T – 243, Ahata Kidara Quresh Nagar, Sadar Bazar, Delhi – 110006, India
|
|
Date of Birth/Age : |
27.12.1970 |
|
Qualification : |
Graduate |
|
Experience : |
Having more than 20 years of experience dealing with Meat products, Slaughter
Houses etc. Presently supplying raw meat /frozen meat to large Indian meat
exporters like Hind Agro, Allana Group, M. K. Overseas etc. Presently doing
business in the Partnership Firm H. M. Trading Co”. |
|
PAN No.: |
AAQPM0220N |
|
Date of Appointment : |
01.04.1997 |
|
|
|
|
Name : |
Mr. Mohammed Haseen |
|
Designation : |
Partner |
|
Address : |
T – 243, Ahata Kidara Quresh Nagar, Sadar Bazar, Delhi – 110006, India
|
|
Date of Birth/Age : |
27.02.1973 |
|
Qualification : |
Graduate |
|
Experience : |
Having more than 18 years of experience dealing with Meat products,
Slaughter Houses etc. Presently supplying raw meat /frozen meat to large
Indian meat exporters like Hind Agro, Allana Group, M. K Overseas etc.
Presently doing business in the Partnership Firm H. M. Trading Co”. |
|
PAN No.: |
AAQPM0215R |
|
Date of Appointment : |
01.04.1997 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trading of Frozen Meat and Meat Products. (Agro based
products under MOFPI) |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
No. of Employees : |
20 (Approximately) |
|
|
|
|
Bankers : |
· Corporation Bank Main Arya Samaj Road, Karol Bagh, New Delhi – 110005, India · The Royal Bank of Scotland (RBS) · Standard Chartered Bank, Karol Bagh · ABN Amro Bank |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Raj Girikshit and Associates Chartered Accountant |
|
Address : |
19, 2nd Floor, K. K. Business Centre, Veer Savarkar Block,
Sahakarpur, Delho, India New Delhi, India |
|
Tel. No.: |
91-11-22010333 |
|
Fax No.: |
91-11-22010222 |
|
Email : |
|
|
|
|
|
Associates/Subsidiaries : |
· S. N. and Company Sadar Bazar, Delhi, India |
CAPITAL STRUCTURE
PARTNERS
CAPITAL ACCOUNT AS ON 31.03.2011 (PROVISIONAL)
(RS. IN MILLIONS)
|
Name of Partners
|
Profit Sharing Ratio |
Opening Capital 01.04.2010 |
Addition During the year |
Share of Profits |
Drawings |
Capital as on 31.03.2011 |
|
|
|
|
|
|
|
|
|
Mohammed Nadeem |
33.33% |
0.777 |
2.038 |
0.103 |
0.086 |
2.832 |
|
|
|
|
|
|
|
|
|
Mohammed Muqeem |
33.33% |
0.850 |
2.202 |
0.103 |
0.103 |
3.052 |
|
|
|
|
|
|
|
|
|
Mohammed Haseen |
33.33% |
0.570 |
2.098 |
0.103 |
0.096 |
2.675 |
|
|
|
|
|
|
|
|
|
TOTAL |
100.00% |
2.197 |
6.338 |
0.309 |
0.285 |
8.559 |
------------------------------------------------------------------------------------------------------------------------------
FINANCIAL DATA
[all figures are
in Rupees Millions]
Note : Sole Proprietory and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry
Records.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 (Provisional) |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
|
1] Share Capital |
8.559 |
2.196 |
0.921 |
0.881 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
8.559 |
2.196 |
0.921 |
0.881 |
|
|
LOAN FUNDS |
|
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.651 |
1.330 |
|
|
2] Unsecured Loans |
3.000 |
0.215 |
0.215 |
0.215 |
|
|
TOTAL BORROWING |
3.000 |
0.215 |
0.866 |
1.545 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL |
11.559 |
2.411 |
1.787 |
2.426 |
|
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
8.656 |
2.706 |
0.123 |
0.143 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
|
Inventories |
2.041
|
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
11.008
|
0.004
|
0.628 |
0.989 |
|
|
Cash & Bank Balances |
0.993
|
0.457
|
0.249 |
0.190 |
|
|
Other Current Assets |
0.104
|
0.105
|
2.627 |
2.602 |
|
|
Loans & Advances |
0.051
|
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
14.197
|
0.566 |
3.504 |
3.781 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
|
Sundry Creditor |
11.269
|
0.819
|
1.795 |
1.431 |
|
|
|
0.025
|
0.026
|
0.026 |
0.022 |
|
|
Provisions |
|
0.016
|
0.019 |
0.045 |
|
Total
Current Liabilities |
11.294
|
0.861
|
1.840 |
1.498 |
|
|
Net Current Assets |
2.903
|
(0.295) |
1.664 |
2.283 |
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL |
11.559 |
2.411 |
1.787 |
2.426 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 (Provisional) |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
Income – Sales |
66.439 |
66.098 |
50.686 |
75.401 |
|
|
|
Other Income |
0.006 |
0.000 |
0.000 |
0.000 |
|
|
|
Closing Stock |
2.041 |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL |
68.486 |
66.098 |
50.686 |
75.401 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
Purchases |
66.953 |
64.653 |
49.254 |
73.708 |
|
|
|
Freight and Cartages |
0.101 |
0.122 |
0.154 |
0.070 |
|
|
|
ICE and Consumable Expenses |
0.082 |
0.052 |
0.086 |
0.107 |
|
|
|
Salaries and Personal Expenses |
0.137 |
0.264 |
0.264 |
0.362 |
|
|
|
Tour, Travelling and Conveyance |
0.022 |
0.012 |
0.010 |
0.008 |
|
|
|
Business Promotion Expenses |
0.013 |
0.130 |
0.012 |
0.013 |
|
|
|
Audit Fees |
0.020 |
0.020 |
0.020 |
0.018 |
|
|
|
Electricity and Water Charge |
0.016 |
0.013 |
0.013 |
0.013 |
|
|
|
Salary to Partner |
0.300 |
0.306 |
0.122 |
0.254 |
|
|
|
Interests on Partners Capital |
0.264 |
0.125 |
0.108 |
0.137 |
|
|
|
Other Expenses |
0.110 |
0.329 |
0.570 |
0.436 |
|
|
|
TOTAL |
68.018 |
66.026 |
50.613 |
75.126 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.468 |
0.072 |
0.073 |
0.275 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.020 |
0.018 |
0.021 |
0.025 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.448 |
0.054 |
0.052 |
0.250 |
|
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.139 |
0.017 |
0.019 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
0.309 |
0.037 |
0.033 |
0.250 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 (Provisional) |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.45
|
0.06 |
0.07 |
0.33 |
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.67
|
0.08 |
0.10 |
0.33 |
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.96
|
1.65 |
1.43 |
6.37 |
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.02 |
0.06 |
0.28 |
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.67
|
0.49 |
2.94 |
3.45 |
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26
|
0.66 |
1.90 |
2.52 |
LOCAL AGENCY FURTHER INFORMATION
OBSERVATION
POINT
|
Name of company : |
Plot No. D-1, Phase -1, UPSIDC
Industrial Area, M. G. Road, Ghaziabad, Uttar Pradesh, India |
|
|
|
|
Name Board : |
Sighted |
|
Visibility of Name Board : |
Moderate |
|
Location : |
Easy |
|
Landmark : |
(Under construction Building) Near Coca Cola
Factory and Oxford University |
|
Locality: |
Factory |
|
Approx. Market Value of Premises : |
Area 27500 (sq. ft.) |
|
Area : |
Neutral |
------------------------------------------------------------------------------------------------------------------------------
COST OF THE PROJECT
|
Particulars |
Amounts (Rs. In
Millions) |
|
|
|
|
Land and Site
Development |
2.600 – Purchased |
|
Building and
Civil Works |
7.500 |
|
Plant and
Machines – Refrigeration |
15.000 |
|
Accessorized for
Plants/ Machines (for Fabrication and Insulation) |
3.400 |
|
Electric Works
and Fittings |
1.500 |
|
D. G. Sets |
2.700 |
|
ETP Plants |
0.800 |
|
Other Misc.
Fixed Assets (Including Preliminary Expenses) |
0.500 |
|
Working Capital
Margin |
1.500 |
|
|
|
|
Grand Total |
35.500 |
MEANS OF FINANCE
|
Particulars |
Amounts (Rs. In
Millions) |
|
|
|
|
Land and Site
Development |
2.600 – Purchased |
|
Building and
Civil Works |
7.500 |
|
Plant and
Machines – Refrigeration |
15.000 |
|
Accessorized for
Plants/ Machines (for Fabrication and Insulation) |
3.400 |
|
|
|
|
Promoters
Capital |
10.500 |
|
Term Loan – From
Bank |
20.000 |
|
Unsecured Loans |
0.000 |
|
Government
Subsidy (MOFPI) |
5.000 |
|
|
|
|
Grand Total |
35.500 |
------------------------------------------------------------------------------------------------------------------------------
OPERATING STATEMENT
(RS. IN MILLIONS)
|
Particulars
|
31.03.2011 |
31.03.2012 |
31.03.2013 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
Projected |
Estimated |
Estimated |
Estimated |
Estimated |
Estimated |
|
|
|
|
|
|
|
|
|
Gross Sales |
|
|
|
|
|
|
|
Domestic Sales |
75.000 |
130.250 |
305.000 |
330.500 |
456.000 |
531.900 |
|
Export Sales |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Gross Sales |
75.000 |
130.250 |
305.000 |
330.500 |
456.000 |
531.900 |
|
|
|
|
|
|
|
|
|
Less : Excise Duty |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Add: Other Operating Income |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
Net Sales |
75.000 |
130.250 |
305.000 |
330.500 |
456.000 |
531.900 |
|
|
|
|
|
|
|
|
|
% rise [+] or fall [-] in net sales as compared to
previous year |
13.47% |
73.67% |
134.17% |
24.75% |
19.84% |
16.64% |
|
|
|
|
|
|
|
|
|
Cost
of Sales |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Raw Materials Consumed |
|
|
|
|
|
|
|
-
Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
-
Indigenous |
73.800 |
117.250 |
266.500 |
333.750 |
400.500 |
467.250 |
|
|
|
|
|
|
|
|
|
Others Stores and Spares |
|
|
|
|
|
|
|
-
Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
-
Indigenous |
0.000 |
2.580 |
6.000 |
7.500 |
9.000 |
10.500 |
|
|
|
|
|
|
|
|
|
Power and Fuel |
0.000 |
3.870 |
9.000 |
11.250 |
13.500 |
15.750 |
|
Direct Wages (Factory Wages and Salaries) |
0.000 |
1.613 |
3.750 |
4.688 |
5.625 |
6.563 |
|
Repairs and Maintenance |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Manufacturing Expenses |
0.400 |
2.114 |
4.695 |
6.100 |
7.300 |
8.238 |
|
Depreciation |
0.015 |
2.169 |
4.033 |
3.466 |
2.980 |
2.564 |
|
|
|
|
|
|
|
|
|
Sub
Total |
74.215 |
129.596 |
293.978 |
366.753 |
438.905 |
510.864 |
|
|
|
|
|
|
|
|
|
Add: Opening Stock-In-Process |
0.000 |
0.000 |
5.333 |
5.333 |
6.667 |
9.000 |
|
Total
|
74.215 |
129.596 |
299.311 |
372.087 |
445.572 |
519.864 |
|
|
|
|
|
|
|
|
|
Less: Closing Stock-In-Process |
0.000 |
5.333 |
5.333 |
6.667 |
9.000 |
11.667 |
|
|
|
|
|
|
|
|
|
Cost
of Production |
74.215 |
124.262 |
293.978 |
365.420 |
436.572 |
508.197 |
|
|
|
|
|
|
|
|
|
Add: Opening Stock of Finished Goods |
0.000 |
1.300 |
1.333 |
1.333 |
1.667 |
2.250 |
|
Total
|
74.215 |
125.562 |
295.311 |
366.753 |
438.239 |
510.447 |
|
|
|
|
|
|
|
|
|
Deduct: Closing Stock of Finished Goods |
1.300 |
1.333 |
1.333 |
1.667 |
2.250 |
2.917 |
|
|
|
|
|
|
|
|
|
SUB TOTAL (Total
cost of sales) |
72.915 |
124.229 |
293.978 |
365.087 |
435.989 |
507.531 |
|
|
|
|
|
|
|
|
|
Selling, General and Administrative Expenses |
1.301 |
1.725 |
4.890 |
8.285 |
10.260 |
13.045 |
|
|
|
|
|
|
|
|
|
Sub
Total |
74.216 |
125.954 |
298.868 |
373.372 |
446.249 |
520.576 |
|
|
|
|
|
|
|
|
|
Operating profit Before Tax Interests |
0.784 |
4.296 |
6.132 |
7.128 |
9.751 |
11.324 |
|
|
|
|
|
|
|
|
|
Interests |
0.000 |
2.203 |
2.616 |
2.144 |
1.672 |
1.200 |
|
|
|
|
|
|
|
|
|
Operating profit After Tax Interests |
0.784 |
2.093 |
3.516 |
4.984 |
8.080 |
10.124 |
|
|
|
|
|
|
|
|
|
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/ Loss [PBT] |
0.784 |
2.093 |
3.516 |
4.984 |
8.080 |
10.124 |
|
|
|
|
|
|
|
|
|
Provision for taxes |
0.243 |
0.661 |
1.367 |
1.809 |
2.866 |
3.527 |
|
|
|
|
|
|
|
|
|
Net
Profit / Loss [PAT] |
0.541 |
1.432 |
2.149 |
3.176 |
5.214 |
6.597 |
|
|
|
|
|
|
|
|
|
Retained Profit |
0.541 |
1.432 |
2.149 |
3.176 |
5.214 |
6.597 |
|
|
|
|
|
|
|
|
|
Retained Profit/ Net Profit (%) |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
|
|
|
|
|
|
|
|
|
Cash Accruals |
5.56 |
36.01 |
61.82 |
66.42 |
81.94 |
91.61 |
|
|
|
|
|
|
|
|
|
Purchase during the year |
73.800 |
117.250 |
266.500 |
333.750 |
400.500 |
467.250 |
------------------------------------------------------------------------------------------------------------------------------
BALANCE SHEET
(RS. IN MILLIONS)
|
Particulars
|
31.03.2011 |
31.03.2012 |
31.03.2013 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
Projected |
Estimated |
Estimated |
Estimated |
Estimated |
Estimated |
|
|
|
|
|
|
|
|
|
CURRENT
LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Short Term Borrowing from Bank |
|
|
|
|
|
|
|
i. From Application Bank |
0.000 |
5.000 |
5.000 |
5.000 |
5.000 |
5.000 |
|
ii. From Other Banks |
0.000 |
0.000 |
0.000 |
0.000 |