MIRA
INFORM REPORT
|
Report Date : |
12.03.2011 |
IDENTIFICATION DETAILS
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Name : |
SAVEER BIOTECH LIMITED |
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Registered
Office : |
1442, Wazir Nagar, Kotla, Mumbarakpur, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
27.10.1993 |
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Com. Reg. No.: |
55-055825 |
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CIN No.: [Company Identification
No.] |
U74899DL1993055825 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
DELS09442G DELS24304A DELS21375E |
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PAN No.: [Permanent Account No.] |
AAACS3271N AAACS3271N |
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Legal Form : |
A closely held public limited liability company |
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Line of Business
: |
Manufacturer of New Technology Greenhouses and innovative products
like control systems. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (48) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 262000 |
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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 a well established company having satisfactory track. Trade
relations are 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 condition. |
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) |
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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 |
LOCATIONS
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Registered Office : |
1442, Wazir Nagar, Kotla, Mumbarakpur, |
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Tel. No.: |
91-11-24622889 / 24602074 / 24634487 |
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Fax No.: |
91-11-24620211 / 24643326 |
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E-Mail : |
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Website : |
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Corporate Office : |
D1, 3rd Floor, Alpha Commercial belt, Krishna Apra Plaza,
Gautam Budh Nagar, Greater Noida, Uttar Pradesh, India |
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Tel. No.: |
91-120-6527913 /6450596 /6450597 / 2326713 |
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Fax No.: |
91-120-2326714 |
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E-Mail : |
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Research and Development : |
G-1, Alpha -1, Gautam Budh Nagar, Greater Noida, |
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Factory 1 : |
D-54, UPSIDC, Site IV, Gautam Noida, |
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Tel. No.: |
91-120-2341864 / 6527912 |
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Fax No.: |
91-120-2340019 |
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DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Netrapal |
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Designation : |
Director |
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Address : |
1442, Wazir Nagar, Kotlamuabarkpur, |
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Date of Birth/Age : |
27.10.1993 |
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Name : |
Mr. Sandeep |
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Designation : |
Director |
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Address : |
1442, Wazir Nagar, Kotlamuabarkpur, |
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Date of Birth/Age : |
27.10.1993 |
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Name : |
Mr. Sanjay |
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Designation : |
Director |
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Address : |
1442, Wazir Nagar, Kotlamuabarkpur, |
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Date of Birth/Age : |
27.10.1993 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
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Names of Shareholders |
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No. of Shares |
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109110 |
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Laxmi Narayan Doot |
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10 |
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Luxmi Doot |
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10 |
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Kaushaliya |
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66910 |
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Sandeep |
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72660 |
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Sasha Sharma |
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10 |
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Sanjay |
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139610 |
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Geetika |
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64900 |
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Yogita |
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48500 |
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Sandeep |
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38500 |
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Sanjay |
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38500 |
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Total |
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578720 |
AS ON 30.09.2010
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Category |
Percentage |
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Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
0.00 |
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Bodies corporate |
0.00 |
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Directors or relatives of Directors |
100.00 |
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Other top fifty shareholders |
0.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of New Technology Greenhouses and innovative products
like control systems. |
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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 : |
Sanjeev Anand and Associates Chartered Accountant |
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Address : |
77, Navtug Market, Ghazibad – 201001, |
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CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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578720 |
Equity Shares |
Rs.10/- each |
Rs. 5.787
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 |
5.787 |
5.587 |
5.587 |
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2] Share Application Money |
0.350 |
2.350 |
2.350 |
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3] Reserves & Surplus |
59.446 |
37.993 |
21.177 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
65.583 |
45.930 |
29.114 |
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LOAN FUNDS |
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1] Secured Loans |
12.814 |
25.121 |
23.394 |
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2] Unsecured Loans |
1.397 |
0.922 |
0.896 |
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TOTAL BORROWING |
14.211 |
26.043 |
24.290 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.016 |
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TOTAL |
79.794 |
71.973 |
53.420 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
12.329 |
8.713 |
8.397 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.255 |
0.165 |
0.075 |
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DEFERREX TAX ASSETS |
0.163 |
0.040 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
11.831
|
11.578 |
13.734 |
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Sundry Debtors |
65.491
|
78.804 |
45.695 |
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Cash & Bank Balances |
7.564
|
6.503 |
6.543 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
21.074
|
10.739 |
12.333 |
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Total
Current Assets |
105.960
|
107.624 |
78.305 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Other Current Liabilities |
33.962
|
41.090 |
30.727 |
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Provisions |
4.951
|
3.479 |
2.636 |
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Total
Current Liabilities |
38.913
|
44.569 |
33.363 |
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Net Current Assets |
67.047
|
63.055 |
44.942 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.006 |
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TOTAL |
79.794 |
71.973 |
53.420 |
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PROFIT & LOSS
ACCOUNT
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|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
179.451 |
164.528 |
163.364 |
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Other Income |
1.395 |
0.303 |
0.934 |
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TOTAL |
180.846 |
164.831 |
164.298 |
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Less |
EXPENSES |
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Raw material consumed |
96.033 |
95.433 |
103.706 |
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Manufacturing Expenses |
39.228 |
28.442 |
31.626 |
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Administrative Expenses |
16.980 |
14.830 |
11.962 |
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Selling and Distribution Expenses |
4.048 |
3.984 |
4.225 |
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Miscellaneous Expenses Written off |
-- |
0.006 |
0.033 |
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Increase / Decrease in stock |
(0.762) |
1.098 |
(1.230) |
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TOTAL |
155.527 |
143.793 |
150.322 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
25.319 |
21.038 |
13.976 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
1.608 |
1.443 |
1.434 |
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PROFIT BEFORE
TAX |
23.711 |
19.595 |
12.542 |
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Less |
TAX |
4.058 |
3.878 |
1.565 |
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PROFIT AFTER TAX
|
19.653 |
15.717 |
10.977 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
25.149 |
10.934 |
1.956 |
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Less |
APPROPRIATIONS |
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Transfer to General Reserve |
3.800 |
2.600 |
2.000 |
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BALANCE CARRIED
TO THE B/S |
41.003 |
25.149 |
10.934 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
11.741 |
Nil |
NA |
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TOTAL EARNINGS |
11.711 |
Nil
|
NA
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Earnings Per
Share (Rs.) |
33.95 |
27.15 |
18.96 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
10.86
|
9.55 |
6.68 |
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Net Profit Margin (PBT/Sales) |
(%) |
13.21
|
11.90 |
7.67 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
20.04
|
16.84 |
14.46 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.36
|
0.42 |
0.43 |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.81
|
1.53 |
1.98 |
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Current Ratio (Current Asset/Current Liability) |
|
2.72
|
2.41 |
2.34 |
LOCAL AGENCY FURTHER INFORMATION
OPERATION OF THE COMPANY
The company is able to achieve the turnover over of Rs. 179.451 millions during the year in spite of adverse market conditions. However the net profit have increased from Rs.23.712 millions to Rs.19.593 millions as compared to the previous year. The directors are hopeful of better results in the coming year.
Form : 8
|
Corporate
identity number of the company |
U74899DL1993PLC055825 |
|
Name of the
company |
SAVEER BIOTECH
LIMITED |
|
Address of the
registered office or of the principal place of business in |
1442 Wazir Nagar
Kotlamubarakpur, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) |
|
Particular of
charge holder |
Punjab National
Bank, Kotla Mubarakpur, |
|
Nature of
instrument creating charge |
Hypothecation Of
Goods And Book Debts To Secure Cash Credit, Facility, Conter Indemnity
Agreement, Letter Of Continuity. |
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Date of
instrument Creating the charge |
20/10/2006 |
|
Amount secured by
the charge |
Rs. 22.000
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest : Bplr+1.5% I.E13%
P.A At Present Subject To Change From Time To Time. Terms of repayment : On Demand Margin : Stock-25%, Book
Debts-40%. Bank Guarantee -15% Extent and operation of the charge : Full Charge 100% Other : Nil |
|
Short particulars
of the property charged (Including location of the property) |
Stocks, Book
Debts , EM Of Land And Building Of 1445b , Wazir Nagar Kotla Mubarakpur New
Delhi, EM Of Factory Land And Building
At D-54 Site-4 Upsidc ,Greator Noida,1800sq. Mtrs. |
|
Date of
instrument modifying the charge |
10/01/2006 |
|
Particulars of
the present modification |
CC Limit Enhanced
From Rs 6.000 millions To Rs17.000 millions [CC(Stock) Rs 17.000 millions
,CC(Book Debts) Rs. 5.000 millions, Overall Cieling Rs 17.000 millions] .
Bank Guarantee (Non Fund Based) From .Rs 1.25 millions To Rs 5.000 millions. Total Limit 22.000
millions. |
Fixed Assets :
- Land (Leasehold)
- Agricultural Land
- Office
- Plant and Machinery
- Furniture and fixture
- Office Equipments
- Cycle
- Vehicles
- Motor Car
- Computer
- Lab Equipments
- Tata Vehicle
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. 45.21 |
|
|
1 |
Rs. 72.54 |
|
Euro |
1 |
Rs. 62.43 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
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 |
6 |
|
--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 |
|
48 |
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.