MIRA
INFORM REPORT
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Report Date : |
24.05.2011 |
IDENTIFICATION DETAILS
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Name : |
GANESHOM CEREALS PRIVATE LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2009 |
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Date of Incorporation : |
19.05.2004 |
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Com. Reg. No.: |
05-35387 |
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Capital Investment / Paid-up Capital : |
Rs.9.480 millions |
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CIN No.: [Company
Identification No.] |
U51211HR2004PTC035387 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RTKG04733B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter
and Supplier of all varieties of Hygienically Processed Rice. |
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No. of Employees : |
250 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (50) |
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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 181000 |
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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 and a reputed company having
satisfactory track. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. 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
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 |
INFORMATION PARTED BY
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Name : |
Mr. Sanjay |
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Designation : |
Accounts Manager |
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Contact No.: |
91-9215620497 |
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Date : |
21.05.2011 |
LOCATIONS
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Registered Office/Factory : |
Gonder Road, Nissing, Karnal –
132 024, Haryana, India |
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Tel. No.: |
91-1745-271162 |
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Mobile No. : |
91-9215620497 (Mr. Sanjay) |
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Fax No.: |
91-1745-271062 |
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E-Mail : |
DIRECTORS
As on 30.09.2009
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Name : |
Mr. Lajpat Rai |
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Designation : |
Director |
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Address : |
20, Old Anaj Mandi, Nissing, Karnal – 132 024, |
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Date of Birth/Age : |
02.09.1954 |
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Date of Appointment : |
19.05.2004 |
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DIN No. : |
00864276 |
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Name : |
Mr. Amar Nath |
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Designation : |
Director |
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Address : |
20, Old Anaj Mandi, Nissing, Karnal – 132 024, |
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Date of Birth/Age : |
02.02.1960 |
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Date of Appointment : |
19.05.2004 |
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DIN No. : |
00864285 |
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Name : |
Mr. Kailash Chand |
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Designation : |
Director |
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Address : |
20, Old Anaj Mandi, Nissing, Karnal – 132 024, |
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Date of Birth/Age : |
02.07.1969 |
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Date of Appointment : |
19.05.2004 |
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DIN No. : |
00864299 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2009
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Names of Shareholders |
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No. of Shares |
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Suraj Bhan |
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180000 |
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Lajpat Rai |
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200000 |
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Amar Nath |
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190000 |
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Kailash Chand |
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250000 |
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Kavita Bansal |
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10000 |
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Darshna Devi |
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15000 |
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Archit Finescrip Limited ( |
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12000 |
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Mayank Medilab Private Limited ( |
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8000 |
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Silicon Builwell Private Limited ( |
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12000 |
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Parkcity Buildwell Private Limited ( |
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8000 |
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Good Morning Buildwell Private Limited ( |
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16000 |
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Paarth Real Tech Private Limited ( |
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6000 |
As on 30.09.2009
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Bodies
corporate |
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9.28 |
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Directors
or relatives of directors |
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90.72 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter
and Supplier of all varieties of Hygienically Processed Rice. |
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Products : |
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Exports : |
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Products : |
Rice |
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Countries : |
Gulf Countries |
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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 |
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No. of Employees : |
250 (Approximately) |
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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 : |
Deepak Thapar and Company Chartered Accountants |
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Address : |
132-L, |
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Tel. No.: |
91-1745-2205263 |
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Associates/Subsidiary
: |
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CAPITAL STRUCTURE
As on 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
947980 |
Equity Shares |
Rs.10/- each |
Rs.9.480
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
9.480 |
9.480 |
8.600 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
35.770 |
32.511 |
8.103 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
45.250 |
41.991 |
16.703 |
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LOAN FUNDS |
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1] Secured Loans |
783.717 |
502.699 |
237.629 |
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2] Unsecured Loans |
0.890 |
0.679 |
0.670 |
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TOTAL BORROWING |
784.607 |
503.378 |
238.299 |
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DEFERRED TAX LIABILITIES |
0.938 |
0.432 |
0.495 |
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TOTAL |
830.795 |
545.801 |
255.497 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
45.828 |
29.976 |
24.063 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
1.282 |
1.088 |
0.645 |
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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 |
667.719
|
622.630
|
343.925 |
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Sundry Debtors |
336.475
|
195.601
|
9.281 |
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Cash & Bank Balances |
14.672
|
5.180
|
7.082 |
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Other Current Assets |
0.000
|
0.000
|
0.000 |
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Loans & Advances |
35.526
|
28.948
|
9.520 |
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Total
Current Assets |
1054.392
|
852.359
|
369.808 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
269.055
|
335.212
|
137.350 |
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Provisions |
1.652
|
2.464
|
1.777 |
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Total
Current Liabilities |
270.707
|
337.676
|
139.127 |
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Net Current Assets |
783.685
|
514.683
|
230.681 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.054 |
0.108 |
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TOTAL |
830.795 |
545.801 |
255.497 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SALES |
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Income |
|
1026.000 |
NA |
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Other Income |
|
18.005 |
NA |
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TOTAL (A) |
1433.273 |
1044.005 |
NA |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL (B) |
1356.545 |
992.015 |
NA |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
76.728 |
51.990 |
27.198 |
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Less |
FINANCIAL
EXPENSES (D) |
62.375 |
41.347 |
21.592 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
14.353 |
10.643 |
5.606 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7.782 |
6.193 |
3.564 |
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PROFIT BEFORE
TAX (E-F) (G) |
6.571 |
4.450 |
2.042 |
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Less |
TAX (I) |
1.651 |
1.652 |
0.856 |
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PROFIT AFTER TAX
(G-I) (J) |
4.920 |
2.798 |
1.186 |
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Earnings Per
Share (Rs.) |
5.19 |
2.95
|
NA |
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Particulars |
|
31.03.2011 |
31.03.2010 |
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Sales Turnover |
|
2640.000 |
2360.000 |
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Expected Sales ( 2011-2012 ) : Rs.4000.000 Millions
The above information has been parted by Mr. Sanjay
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
0.34
|
0.27
|
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
NA
|
0.43
|
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.60
|
0.50
|
0.52 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.11
|
0.12 |
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Debt Equity Ratio (Total Liability/Networth) |
|
23.32
|
20.03
|
22.60 |
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Current Ratio (Current Asset/Current Liability) |
|
3.89
|
2.52
|
2.66 |
LOCAL AGENCY FURTHER INFORMATION
OPERATION/
EXPORTS:
During the year 2008-09 sale of rice was 28636 M.T. valuing Rs.1406.070
millions of which Exports were 12987 M.T. valuing Rs.800.537 millions.
FORM 8
|
This form is for |
Modification of
charge |
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Charge
identification number of the modified |
90058871 |
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Corporate
identity number of the company |
U51211HR2004PTC035387 |
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Name of the
company |
GANESHOM CEREALS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
Factory |
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Type of charge |
Immovable
Property Book debts Movable Property Others (Corporate
Guarantee) |
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Particular of
charge holder |
Punjab National Bank, Taraori, Taraori, Karnal – 132 116, E-Mail: shailender18876@yahoo.co.in |
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Nature of
description of the instrument creating or modifying the charge |
Agreement of
Guarantee Hypothecation of
movable assets forming part of fixed/ block assets to be stamped as an
agreement not be witnessed. |
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Date of
instrument Creating the charge |
28.01.2011 |
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Amount secured by
the charge |
Rs.830.000
millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
: As per loan
agreement of the Bank with Ganpati Foods, Nissing. Terms of
Repayment : As per loan
agreement of the Bank with Ganpati Foods, Nissing. Margin : As per loan
agreement of the Bank with Ganpati Foods, Nissing. Extent and
Operation of the charge : Corporate
guarantee provided by the company for the loan amount taken by Ganpati Foods,
Nissing for overall limit of Rs.830.000 millions. CC Hypothecation-
Rs.250.000 millions PCL – Rs.800.000
millions FOUBNLC/ FABC/
FAUBC/ FOBP/ FOUBP/ FOBNLC – Rs.100.000 millions (Ceiling of
Rs.800.000 millions) Term Loan –
Existing Rs.10.000 millions and Rs.20.000 millions Overall ceiling
of Rs.830.000 millions. |
|
Short particulars
of the property charged |
Hypothecation of
unencumbered plant and machinery and other moveable assets and equitable
mortgage of factory land and building situated measuring 73 K 16 M situated
at |
|
Particulars of
the present modification |
Corporate
guarantee provided by the company for the loan amount taken by Ganpati Foods,
Nissing for overall limit of Rs.830.000 millions. CC Hypothecation-
Rs.250.000 millions PCL – Rs.800.000
millions FOUBNLC/ FABC/
FAUBC/ FOBP/ FOUBP/ FOBNLC – Rs.100.000 millions (Ceiling of
Rs.800.000 millions) Term Loan –
Existing Rs.10.000 millions and Rs.20.000 millions Overall ceiling
of Rs.830.000 millions. Other terms and
conditions remains same. |
FIXED ASSETS:
- Land
- Building
- Machinery
- Generator
- Car
- Sortex Machine
- Res. And Dev. Equipment
- Computer
- Kanda
- Air Conditioner
- Tarpal
- Scooter/ Motor Cycle
- Furniture and Fixture
- Truck
- Tractor
- Fax Machine
- Transformer
- Intercom Equipment
- Moisture Meter
- Laboratory Equipment
- Wooden Crates
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.45.28 |
|
|
1 |
Rs.73.30 |
|
Euro |
1 |
Rs.63.61 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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.