MIRA
INFORM REPORT
|
Report Date : |
01.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
MANTORA AGRO INDUSTRIES PRIVATE LIMITED (w.e.f. 14.03.2007) |
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|
Formerly Known
As : |
MANTORA AGRO INDUSTRIES LIMITED |
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Registered
Office : |
16, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
22.12.1995 |
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Com. Reg. No.: |
21-86057 |
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Capital
Investment / Paid-up Capital : |
Rs.56.762 Millions |
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CIN No.: [Company Identification
No.] |
U15141WB1995PTC086057 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Supplier of Edible Refined Oil. |
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|
No. of Employees
: |
Not Available |
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 2000000 |
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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 dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office : |
16, |
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E-Mail : |
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Factory : |
No. 26/49, |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Siddharth Gupta |
|
Designation : |
Director |
|
Address : |
26/49, |
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Date of Birth/Age : |
19.04.1976 |
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Date of Appointment : |
22.12.1995 |
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DIN No. : |
01113996 |
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|
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Name : |
Mr. Vishwa Nath Gupta |
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Designation : |
Director |
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Address : |
26/49, |
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Date of Appointment : |
05.04.2003 |
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DIN No. : |
00326295 |
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|
|
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Name : |
Mr. Suresh Chand Gupta |
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Designation : |
Managing Director |
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Address : |
26/49, |
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Date of Birth/Age : |
07.09.1963 |
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Date of Appointment : |
10.04.2003 |
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DIN No. : |
00326327 |
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|
|
|
Name : |
Mr. Jagdish Prasad Gupta |
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Designation : |
Director |
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Address : |
26/49, |
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Date of Birth/Age : |
21.08.1953 |
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Date of Appointment : |
30.04.2009 |
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DIN No. : |
00326306 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Gopi Kishan Gupta |
|
20100 |
|
Urmila Gupta |
|
121910 |
|
Vishwanath Jagdish Prasad Suresh Chand Ramesh Chand (HUF) |
|
24250 |
|
Sita Gupta |
|
161415 |
|
Suresh Chand, Sita (HUF) |
|
24000 |
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Gopi Kishan, Ramesh Chand (HUF) |
|
68000 |
|
Mantora Oil Products Limited ( |
|
100000 |
|
Assam Entrade Limited |
|
1849440 |
|
Mamta Gupta |
|
201025 |
|
Vishwanath Siddharth (HUF) |
|
54400 |
|
Dharam Port Folio Private Limited |
|
264855 |
|
Spark Finwiz Limited |
|
324565 |
|
Clive Fabrics Private Limited |
|
516450 |
|
Bhushan Capitals Limited |
|
190750 |
|
Darpan Distributors Private Limited |
|
565000 |
|
Siddhant Vanija Private Limited |
|
635000 |
|
Swadesh Vanija Private Limited |
|
555000 |
|
Total |
|
5676160 |
As on 30.09.2010
|
Category |
Percentage |
|
Bodies corporate |
88.10 |
|
Directors or relatives of Directors |
11.90 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Edible Refined Oil. |
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Products : |
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PRODUCTION STATUS As on 31.03.2010
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Refined Vegetable Oils |
|
30000 |
47650 |
|
By-Products |
|
30000 |
1739 |
GENERAL INFORMATION
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
S. Jaykishan Chartered Accountant |
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Address : |
12, Ho-Chi Minh Sarani, Suite No. 2D, 2E and 2F, 2nd Floor,
Kolkata – 700071, West Bengal, India |
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Tel. No.: |
91-33-40035801 |
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Fax No.: |
91-33-40035832 |
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E-Mail : |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6400000 |
Equity Shares |
Rs.10/- each |
Rs.64.000 Millions |
|
100000 |
Preference Shares |
Rs.10/- each |
Rs.1.000 Millions |
|
|
Total |
|
Rs.65.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5676160 |
Equity Shares |
Rs.10/-each |
Rs.56.762
Millions |
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] Share Capital |
56.762 |
56.762 |
56.762 |
|
|
2] Share Application Money |
17.800 |
37.800 |
61.600 |
|
|
3] Reserves & Surplus |
435.142 |
412.566 |
392.771 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
509.704 |
507.128 |
511.133 |
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|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
173.023 |
36.366 |
490.933 |
|
|
2] Unsecured Loans |
59.220 |
217.215 |
187.984 |
|
|
TOTAL BORROWING |
232.243 |
253.581 |
678.917 |
|
|
DEFERRED TAX LIABILITIES |
1.555 |
0.000 |
0.000 |
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|
|
|
|
|
|
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TOTAL |
743.502 |
760.709 |
1190.050 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
57.924 |
57.157 |
49.907 |
|
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
|
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INVESTMENT |
306.823 |
177.893 |
15.111 |
|
|
DEFERREX TAX ASSETS |
0.000 |
1.496 |
2.233 |
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
134.154
|
101.624 |
251.539 |
|
|
Sundry Debtors |
102.555
|
84.566 |
46.198 |
|
|
Cash & Bank Balances |
302.119
|
462.417 |
508.685 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
79.928
|
87.793 |
343.285 |
|
Total
Current Assets |
618.756
|
736.400 |
1149.707 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
16.657
|
56.415 |
|
|
|
Other Current Liabilities |
195.033
|
139.893 |
18.805 |
|
|
Provisions |
28.326
|
16.421 |
8.665 |
|
Total
Current Liabilities |
240.016
|
212.729 |
27.470 |
|
|
Net Current Assets |
378.740
|
523.671 |
1122.237 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.015 |
0.492 |
0.562 |
|
|
|
|
|
|
|
|
TOTAL |
743.502 |
760.709 |
1190.050 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2010 |
|
|
|
SALES |
|
|
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|
|
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|
Income |
|
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|
Other Income |
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TOTAL |
|
|
2466.966 |
|
|
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Less |
EXPENSES |
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|
|
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|
Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
|
|
2429.434 |
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|
PROFIT BEFORE
TAX |
|
|
37.532 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
14.956 |
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|
|
|
|
|
|
|
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|
PROFIT AFTER TAX |
|
|
22.576 |
|
|
|
|
|
|
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IMPORTS |
|
|
|
|
|
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|
Raw Materials |
|
|
169.762 |
|
|
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Trading Purchases |
|
|
213.555 |
|
|
TOTAL IMPORTS |
|
|
383.317 |
|
|
|
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|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
3.98 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.91
|
-- |
-- |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.55
|
-- |
-- |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
-- |
-- |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.93
|
0.92 |
1.38 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.58
|
3.46 |
41.85 |
LOCAL AGENCY FURTHER INFORMATION
STATE OF THE
COMPANY'S AFFAIRS :
A copy of the balance sheet and the profit and loss account of the
company is being enclosed herewith for the appreciation by the members
of the financial position and the state of the affairs of the company.
Amount Transferred to reserves is Rs 22576238.00
MATERIAL CHANGES AND
COMMITMENTS :
During the year overall performance of the company was steady and satisfactory. Company successfully managed to pay all its liabilities in time and managed to carry out all its business and commercial obligations timely and with dignity. The directors shall continue to put-in all efforts for a better and bright prospects of the company.
The company is considering various possibilities for optimising the present business activities keeping in view the profitability and stability of business of the company. The company is also pursuing the possibility into other related activities.
There have not been any material changes and commitments affecting the financial position of the company between the end of the financial year of the company and the date of the Boards' report.
FORM 8 :
|
Corporate
identity number of the company |
U15141WB1995PTC086057 |
|
Name of the
company |
MANTORA AGRO INDUSTRIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
16, |
|
This form is for |
Creation
of charge |
|
Type of charge |
Others |
|
Particular of
charge holder |
State Bank of |
|
Nature of
instrument creating charge |
Deed of guarantee
for Overall limit |
|
Date of
instrument Creating the charge |
14.02.2011 |
|
Amount secured by
the charge |
Rs.1940.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest
: on Working
Capital - @ 2.90% above Base Rate i.e.
10.90% per annum with monthly rests. on Term Loan - @
3.75% above Base Rate i.e. 11.75% per annum with monthly rests. Terms of
repayment : Working capital -
Repayable on demand. Term Loan - As
per existing repayment schedule. Margin : As per Sanction
terms. Extent and
operation of the charge : The Company M/s Mantora
Agro Industries Private Limited has executed Corporate Guarantee to secure
repayment of Credit facilities aggregating Rs.1940.000 Millions granted by
the Bank to M/s Mantora Oil Products Limited. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
The Company M/s
Mantora Agro Industries Private Limited has executed Corporate Guarantee to
secure repayment of Credit facilities aggregating Rs.1940.000 Millions
granted by the Bank to M/s Mantora Oil Products Limited. |
FIXED ASSETS
- Land and Site Development
- Shed and Buildings
- Plant and Machinery
- Effluent Treatment plant
- Furniture and Fixture
- Office Equipments
- Air Conditioner
- Computers
- Intercom System
- Motor Cars
- Truck
- Telecom Instruments
- Dies and Moulds
- Lab Equipments
- Fire Extinguisher
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.45.03 |
|
|
1 |
Rs.74.43 |
|
Euro |
1 |
Rs.64.70 |
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.