MIRA
INFORM REPORT
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Report Date : |
27.12.2011 |
IDENTIFICATION DETAILS
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Name : |
ENHANCE PROTEINS LIMITED |
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Registered
Office : |
78/3, 2nd Floor, Janpath, |
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Country : |
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Date of
Incorporation : |
18.10.2010 |
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Com. Reg. No.: |
55-209451 |
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Capital
Investment / Paid-up Capital : |
Rs.10.744 Millions |
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CIN No.: [Company Identification
No.] |
U15400DL2010PLC209451 |
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IEC No.: |
0510076190 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
DELE05706B |
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PAN No.: [Permanent Account No.] |
AACCE5529R |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
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Suppliers of a wide range of Specialty Milk Ingredients and
Whey Proteins. |
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No. of Employees
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16 (Office- 8, Branch- 5 and Branch and Godown- 3) Approximately |
RATING & COMMENTS
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MIRA’s Rating : |
B [26] |
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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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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new company and establishing itself gradually.
Trade relations are reported as fair. Business is active. Payment are
unknown. The company can be considered for business dealing with some cautions. |
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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 PARTED BY
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Name : |
Mr. Ajay Nagpal |
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Designation : |
Chief Finance Officer |
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Contact No.: |
91-9650100492 |
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Date : |
23.12.2011 |
LOCATIONS
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Registered Office : |
78/3, 2nd Floor, Janpath, |
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Tel. No.: |
91-11-23353191/ 23353192/ 23353193 |
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Mobile No.: |
91-9650100492 (Mr. Ajay Nagpal) |
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Fax No.: |
91-11-23718056 |
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E-Mail : |
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Website : |
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Area : |
3000 sq. ft. |
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Location : |
Rented |
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Corporate/ Marketing Office : |
No.5, First Floor, Westend Marg, Saidulajab, |
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Tel. No.: |
91-11-29534532 |
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Area : |
3200 sq. ft. |
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Location : |
Rented |
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Branches and Godown : |
B – 228, V K I |
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Tel No.: |
91-141-4020266/ 2333815 |
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Area : |
800 sq. ft. |
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Location : |
Rented |
DIRECTORS
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Name : |
Mrs. Deepa Goyal |
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Designation : |
Director |
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Address : |
S-33, Greater Kailash Part – II, 2nd Floor, |
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Date of Birth/Age : |
24.06.1971 |
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Qualification : |
Fashion Designer |
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Email : |
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00634092 |
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Other
Directorship : |
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Name : |
Mr. Anand Satram |
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Designation : |
Director |
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Address : |
C – 2/37, Sector – 31, Noida – 201301, |
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Date of Birth/Age : |
29.03.1964 |
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Qualification : |
Graduate |
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Email : |
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DIN : |
02777734 |
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Other Directorship : |
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Name : |
Mr. Rajat Goyal |
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Designation : |
Director |
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Address : |
L-1/8, 2nd Floor, Hauz Khas Enclave, |
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Date of Birth/Age : |
03.04.1967 |
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Qualification : |
MBBS |
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Email : |
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DIN : |
03192623 |
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Other Directorship : |
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KEY EXECUTIVES
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Name : |
Mr. Ajay Nagpal |
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Designation : |
Chief Finance Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Anand Satram |
100 |
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Deepa Goyal |
50000 |
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Naresh Kumar Sharma |
100 |
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Ajay Nagpal |
100 |
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V.K. Barota |
100 |
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V. Harihara Subramanian |
100 |
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Pragati Srivastava |
100 |
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Total |
50600 |
As on 21.03.2011
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Names of Allotteess |
No. of Shares
Allotted |
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Mrs Deepa Goyal |
1023800 |
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Total |
1023800 |
BUSINESS DETAILS
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Line of Business : |
Suppliers of a wide range of Specialty Milk Ingredients
and Whey Proteins. |
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Products : |
1. Casein
2. Caseinate
3. Whey Protein Concentrate
4. Lactose
5. Whey Powders
6. Natural Milk Calcium
7. Milk Powder and Milk Fat
8. Hydrolysed Proteins
9. Bakery Formulations
10. Cheese Formulations
11. Sports Formulations
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
Wholesalers Retailers and End Users
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Suppliers : |
Tatua Co-operative Dairy Company Limited |
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No. of Employees : |
16 (Office- 8, Branch- 5 and Branch and Godown- 3) Approximately |
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Bankers : |
· City Union Bank Limited B1/30, Janakpuri, |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Dawar Mathur and Goel Chartered Accountants |
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Address : |
41, Vivekanand Puri Sarai Rohilla, |
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Tel. No.: |
91-11-23691325 |
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Email : |
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Group Company : |
· Mahaan Proteins Limited Address : 78/3, 2nd
Floor, Janpath, Line of
Business: Dairy Industry. |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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2,000,000 |
Equity Share |
Rs.10/- each |
Rs.20.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1,074,400 |
Equity Share |
Rs.10/- each |
Rs.10.744
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2011 |
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Sales Turnover [Approximately] |
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200.000 |
Expected Sales (2011-2012) : Rs.350.000 millions
The above information has been parted by Mr. Ajay Nagpal [Chief Finance Officer].
LOCAL AGENCY FURTHER INFORMATION
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Check List by Info Agents |
Available in Report [Yes/No] |
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Year of Establishment |
Yes |
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Locality of the Firm |
Yes |
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Construction of the firm |
Yes |
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Premises details |
Yes |
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Type of Business |
Yes |
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Line of Business |
Yes |
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Promoters background |
- |
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No. of Employees |
Yes |
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Name of Person Contacted |
Yes |
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Designation of contact
person |
Yes |
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Turnover of firm for last
one years |
Yes |
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Profitability for last
three years |
No |
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Reasons for variation
<> 20% |
- |
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Estimation for coming
financial year |
Yes |
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Capital the business |
Yes |
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Details of sister
concerns |
Yes |
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Major Suppliers |
Yes |
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Major Customers |
Yes |
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Payment Terms |
Yes |
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Export / Import Details
[If Applicable] |
No |
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Market Information |
- |
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Litigations that the firm
/ promoter involved in |
- |
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Banking Details |
Yes |
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Banking Facility Details |
No |
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Conduct of the banking
account |
- |
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Buyer visit details |
- |
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Financials, if provided |
No |
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Incorporation details, if
applicable |
- |
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Last accounts filed at
ROC |
- |
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Major Shareholders, if
applicable |
- |
Bankers Charges
Report as per Registry
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Corporate
identity number of the company |
U15400DL2010PLC209451 |
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Name of the
company |
ENHANCE PROTEINS
LIMITED |
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Address of the registered
office or of the principal place of
business in |
78/3, 2nd Floor,
Janpath, |
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This form is for |
Modification of
charge |
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Charge
identification (ID) number of the charge to be modified |
10270310 |
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Type of charge |
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Particular of
charge holder |
City Union Bank Limited, B1/30, Janakpuri, Email : aclient@redifffmail.com |
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Nature of
instrument creating charge |
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Date of
instrument Creating the charge |
19.04.2011 |
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Amount secured by
the charge |
Rs.74.000
millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
– FLC-0.80%
Commission Other Remaining
Same Terms of
Repayment – Repayable on
demand Other remaining
same Margin – 25% Extent and
Operation of the charge - 100% First Charge Others - As Per
Agreement |
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Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of goods
and book debts, equitable mortgage over property at Date 706 and 707 in
jasola tower B owned by Mrs. Deepa director of the company and Mr. Rajiv
Goyal valued Rs. 17.900 millions each. Letter of
guarantee by Ms. Deepa Goyal and Mr. Rajiv Goyal |
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Particulars of
the present modification |
Total limit has
been enhanced to Rs. 74.000 millions by sanction of adhoc FLC of Rs. 6.500
millions. Total facility sanctioned in following manner: OLCC Rs. 40.000 millions (existing) FLC Rs. 27.500 millions (existing) FLC adhoc Rs. 6.500 millions (new) |
TRADE REFERENCE:
- Nestle India Limited
- Tatua Co-operative Dairy Company Limited
WEBSITE DETAILS:
COMPANY PROFILE:
Owing to the rich expertise and experience of twenty years,
they are offering milk ingredients, milk formulations, milk protein
concentrate, lactose, milk powders and milk fat, whey powders, dairy whitener
and milk proteins. These are processed using quality raw material and are
widely appreciated owing to their high end features like high nutritional
content, purity and hygienic processing. The range is widely used in
nutritional and dietetic foods, clinical foods, health foods, sports foods,
confectionery and bakery, beverages, salad and soups, infant foods, etc and has
many positive health benefits. Moreover, they are recipient of several Awards
for export leadership position in
They have an on going RandD on which, they perennially spend 2 to3 % of their
yearly sales turnover. Moreover, they have also equipped an extensive
BUSINESS
SPECIFICS:
§
Location:
§
Legal Status: Limited Company
§
The Achievements: CII, FICCI, FIEO
§
Certifications: ISO 9001:2008, KOSHER,
HACCP-2006, EIA, HALAL
Established in
the year 1992, Mahaan Proteins Limited, is the Group Company and the
manufacturing arm, is amongst the leading organization
engaged in processing and supplying a wide range of milk powder, casein,
caseinates, whey protein, Lactose, Natural Milk Calcium Powder, Demineralised
Whey Powder, are extensively used in nutritional and dietetic foods, clinical
foods, health foods, sports foods, confectionery and bakery, beverages, salad
and soups, infant foods and have many positive health benefits.
The well-developed infrastructure is bestowed with a massive processing plant
that is located at Kosi Kalan (U.P) that have various facilities like liquid
storage facilities, chilling facilities, pasteurization facility and packaging
facilities. With the help of latest technology and advanced machines such as
spray driers, crystallizer and centrifuge equipment, membrane filtration, PLC
controls, etc, they are able to meet the exact requirements of the esteemed
clients. They have sourced these
machines from Valio Engg (Finland), Westfalia (Germany), Seppo Ralli (Finland),
Sepratech (UK), Goavec (France), Kent Keller (USA) and Alfa Laval (India).
They are progressing under the able guidance of the Mr. Rajiv Goyal, Chairman
Managing Director, is a qualified entrepreneur with B.com (Hons) from Shriram
College of Commerce,
THE
TEAM
The paramount success of the organization owes to the
dexterous efforts of the team of dedicated and talented personnel, who works
round the clock to achieve utmost client satisfaction by offering quality range
of specialty milk ingredients and whey proteins. The dairy technologists are
hired from Europe, America and Oceania, who help in developing new applications
for existing product range along with upgrading and introducing new products
for existing applications for giving greater value for money and convenience to
their esteemed clients. The team of professionals encompasses of engineers, quality
controllers, research experts and marketing professionals. Moreover, to meet
the varied requirements of the clients, the team of experts facilitates the
clients with customization facility in terms of composition as well as in terms
of packaging as per the specifications given by them. They also consistently
develop new recipes and new products for the Consumer Sales Division.
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.52.82 |
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|
1 |
Rs.82.47 |
|
Euro |
1 |
Rs.68.93 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
NO |
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--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
26 |
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.