MIRA
INFORM REPORT
|
Report Date : |
15.01.2011 |
Note : The company has shifted from the above
address.
IDENTIFICATION DETAILS
|
Name : |
BRINDAVAN AGRO INDUSTRIES PRIVATE LIMITED |
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Formerly Known
As : |
BRINDAVAN AGRO INDUSTRIES LIMITED |
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Registered
Office : |
3/16, West Patel Nagar, New Delhi-110008, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
19.08.2002 |
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Com. Reg. No.: |
11-116601 |
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CIN No.: [Company Identification
No.] |
U15541DL2002PTC116601 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELB04879A |
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PAN No.: [Permanent Account No.] |
AAACB0258J |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Bottler for carbonated beverage. |
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 |
|
Maximum Credit Limit : |
USD 620000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealing 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
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
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 |
LOCATIONS
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Registered Office : |
3/16, West Patel Nagar, New Delhi-110008, |
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E-Mail : |
DIRECTORS
As On : 15.09.2010
|
Name : |
Mr. Gulab Chand |
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Designation : |
Managing Director |
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Address : |
B-9, Lajpat Kunj, Khandari Crossing, Agra-282-002, |
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Date of Birth/Age : |
20.11.1954 |
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Date of Appointment : |
06.07.1992 |
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DIN No : |
00185642 |
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Name : |
Mr. Paritosh Labhani |
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Designation : |
Director |
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Address : |
B-9, Lajpat Kunj, Khandari Crossing, Agra-282-002, |
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Date of Birth/Age : |
16.01.1978 |
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Date of Appointment : |
15.02.1996 |
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DIN No : |
00185659 |
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Name : |
Mrs. Alka Ladhani |
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Designation : |
Director |
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Address : |
B-9, Lajpat Kunj, Khandari Crossing, Agra-282-002, |
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Date of Birth/Age : |
24.09.1979 |
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Date of Appointment : |
15.11.2002 |
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DIN No : |
00234470 |
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Name : |
Mrs. Kaushalya Devi |
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Designation : |
Director |
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Address : |
B-9, Lajpat Kunj, Khandari Crossing, Agra-282-002, |
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Date of Birth/Age : |
01.01.1959 |
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Date of Appointment : |
01.04.1995 |
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DIN No : |
00234510 |
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Name : |
Mr. Ekansh Ladhani |
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Designation : |
Director |
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Address : |
B-9, Lajpat Kunj, Khandari Crossing, Agra-282-002, |
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Date of Birth/Age : |
11.02.1985 |
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Date of Appointment : |
04.01.2008 |
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DIN No : |
01915806 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 15.09.2010
|
Names of Shareholders |
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No. of Shares |
|
Mohan Dass Ladhani |
|
10 |
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Gulab Chand |
|
128275 |
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Lacchman Dass Ladhani |
|
10 |
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Kaushalya Devi |
|
108385 |
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Ekansh Ladhani |
|
640 |
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S. N. Ladhani |
|
10 |
|
Paritosh Ladhani |
|
79170 |
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Total |
|
316500 |
AS ON 15.09.2010
|
Equity Share
Breakup |
|
Percentage of Holding |
|
Category |
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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 : |
Bottler for carbonated beverage. |
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Products : |
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GENERAL INFORMATION
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Bankers : |
Bank of New |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S. K. Associates Chartered Accountant |
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Address : |
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CAPITAL STRUCTURE
As On 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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350000 |
Equity Shares |
Rs. 100/- each |
Rs. 35.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
316500 |
Equity Shares |
Rs. 100/- each |
Rs. 31.650
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
31.650 |
31.650 |
31.650 |
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2] Share Application Money |
50.800 |
8.200 |
25.020 |
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3] Reserves & Surplus |
257.617 |
220.791 |
181.871 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
340.067 |
260.641 |
238.541 |
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LOAN FUNDS |
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1] Secured Loans |
199.425 |
159.813 |
183.444 |
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2] Unsecured Loans |
108.952 |
80.217 |
79.870 |
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TOTAL BORROWING |
308.377 |
240.030 |
263.314 |
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DEFERRED TAX LIABILITIES |
95.377 |
100.557 |
102.656 |
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TOTAL |
743.821 |
601.228 |
604.511 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
617.870 |
508.662 |
517.257 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
1.400 |
1.400 |
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 |
132.478
|
94.311 |
63.751 |
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Sundry Debtors |
6.214
|
6.310 |
6.088 |
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Cash & Bank Balances |
98.240
|
90.891 |
105.247 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
57.703
|
23.537 |
20.968 |
|
Total
Current Assets |
294.635
|
215.049 |
196.054 |
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|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
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|
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Sundry Creditors |
|
73.102 |
63.012 |
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Other Current Liabilities |
139.474
|
42.240 |
35.855 |
|
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Provisions |
31.015
|
9.012 |
10.472 |
|
Total
Current Liabilities |
170.489
|
124.354 |
109.339 |
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Net Current Assets |
124.146
|
90.695 |
86.715 |
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MISCELLANEOUS EXPENSES |
0.404 |
0.471 |
0.539 |
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TOTAL |
743.820 |
601.228 |
604.511 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
|
614.721 |
508.820 |
|
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Other Income |
1136.936 |
9.886 |
10.986 |
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Profit On sale of Fixed Assets |
|
0.000 |
0.012 |
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TOTAL (A) |
1136.936 |
624.607 |
519.818 |
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Less |
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Cost of Materials |
|
69.740 |
49.732 |
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Manufacturing Expenses |
|
66.979 |
52.377 |
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Consumption of Raw Materials |
|
305.676 |
240.968 |
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Selling and Distribution Expenses |
997.704 |
28.855 |
25.868 |
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Office Expenses |
|
1.130 |
0.985 |
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Administrative Expenses |
|
24.311 |
17.472 |
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Loss on |
|
0.052 |
0.000 |
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TOTAL (B) |
997.704 |
496.743 |
387.402 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
139.232 |
127.864 |
132.416 |
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Less |
FINANCIAL
EXPENSES (D) |
11.832 |
12.919 |
16.866 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
127.400 |
114.945 |
115.550 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
75.430 |
72.848 |
76.039 |
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PROFIT BEFORE
TAX (E-F) (G) |
51.970 |
42.097 |
39.511 |
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Less |
TAX (H) |
NA |
3.176 |
19.065 |
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PROFIT AFTER TAX
(G-H) (I) |
51.970 |
38.921 |
20.446 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
212.042 |
173.121 |
152.677 |
|
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BALANCE CARRIED
TO THE B/S |
264.012 |
212.042 |
173.123 |
|
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|
Earning Per
Share |
164.20 |
133.01 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.57
|
6.23 |
3.93 |
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|
Net Profit Margin (PBT/Sales) |
(%) |
4.57
|
6.85 |
7.77 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
5.69
|
5.82 |
5.54 |
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.16 |
0.17 |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
1.69
|
1.78 |
1.99 |
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|
Current Ratio (Current Asset/Current Liability) |
|
1.73
|
1.73 |
1.79 |
LOCAL AGENCY FURTHER INFORMATION
OPERATION :
During the year performance of the company has been quite satisfactory
and the company has recoded the Gross Turnover Receipts of Rs.1136.936 millions
as against Rs.624.607 millions in the preceding year.
FORM 8
|
Corporate identity
number of the company |
U15541DL2002PTC116601 |
|
Name of the
company |
BRINDAVAN AGRO
INDUTRIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
3/16, West Patel Nagar, New Delhi-110008, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable property
(not being pledge) |
|
Particular of
charge holder |
Bank of New |
|
Nature of
instrument creating charge |
Supplemental to
the Agreement of Hypothecation of Stocks of Creates and Bottels |
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Date of
instrument Creating the charge |
19.03.2010 |
|
Amount secured by
the charge |
Rs.5.000 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Rate of Interest
@ 1.00% above BOIBPLR, minimum 13% per annum or at such other rate of
interest as may be notified to them by the Bank from time to time. Terms of repayment Repayable on
demand Margin 50% Extent and operation of the charge The Company’s
Prosperities are hypothecated to secure Cash Credit Limit (for Stocks of
Crates and Bottles) of Rs.5.000 millions granted by Bank to the Company. |
|
Short particulars
of the property charged (Including location of the property) |
As prescribed in
the Principal Deed of Hypothecation. |
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 records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record exists
to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.30 |
|
|
1 |
Rs.71.73 |
|
Euro |
1 |
Rs.60.40 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--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 |
|
45 |
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.