MIRA
INFORM REPORT
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Report Date : |
14.11.2011 |
IDENTIFICATION DETAILS
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Name : |
GREEN EARTH PRODUCTS PRIVATE LIMITED |
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Registered Office : |
W-105, Greater Kailash, Part-I, New Delhi – 110 048. |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
22.11.2005 |
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Com. Reg. No.: |
55-142791 |
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Capital
Investment / Paid-up Capital : |
Rs.4.452 Millions |
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CIN No.: [Company
Identification No.] |
U51909DL2005PTC142791 |
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IEC No.: |
0506022218 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELG09695A |
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PAN No.: [Permanent
Account No.] |
AACCG5700E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Spices, Medical Herbs, Herbal extracts,
Dried Flowers and Sesame seed |
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No. of Employees : |
40 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (27) |
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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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Maximum Credit Limit : |
USD 22372 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, trade relations are fair. Business
is active. Payments are reported to be slow. The company can be considered for business dealings with some caution. |
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
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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India |
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. Veneet Khurana |
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Designation : |
Director |
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Date : |
04.11.2011 |
LOCATIONS
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Registered Office : |
W – 105, Khuranas, Greater Kailash, Part – I, |
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Tel. No.: |
91-11-29239095 |
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Mobile No.: |
91-9810153563 (Mr. Veneet) |
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Fax No.: |
91-11-41635095 |
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E-Mail : |
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Website : |
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Area : |
1800 Sq. ft. |
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Location : |
Owned |
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Factory : |
Located at Rajasthan and |
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Location : |
Owned |
DIRECTORS
As On : 30.09.2011
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Name : |
Mrs. Rashmi Khurana |
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Designation : |
Director |
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Address : |
W – 105, Greater Kailash Part – I, |
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Date of Birth/Age : |
21.11.1961 |
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Qualification : |
Post Graduate |
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Date of Appointment : |
22.11.2005 |
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Name : |
Mr. Veneet Khurana |
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Designation : |
Director |
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Address : |
W – 105, Greater Kailash Part – I, |
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Date of Birth/Age : |
17.08.1960 |
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Qualification : |
22.11.2005 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On : 30.09.2011
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Names of Shareholders |
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No. of Shares |
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Mr. Veneet Khurana |
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184300 |
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Mrs. Rashmi Khurana |
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248450 |
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Mr. Swaraj Khurana |
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6250 |
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Mr. Sham Sunder Khurana |
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6250 |
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Total |
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445250 |
As On : 30.09.2011
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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100.00 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporters of Spices, Medical Herbs, Herbal extracts,
Dried Flowers and Sesame seed |
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Products : |
·
Cardamom ·
Celery Seed ·
Chillies Red ·
Coriander Seed ·
Medicinal Herbs ·
Herbal Extracts ·
Indian Spices ·
Agro Product ·
Dry Flower ·
Herbal; Tea ·
Neem Product ·
Cumin Seed ·
Dill Seed ·
Ginger Fennel Seed ·
Fenugreek ·
Pepper Black ·
Tamarind & Turmeric · Bakery products include Sesame Seed and HPS Ground Nut Kernels |
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Exports : |
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Products : |
·
Spices ·
Herbs ·
Seeds |
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Countries : |
·
USA ·
Europe ·
Far East ·
Australia ·
Canada ·
European Countries |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit, T. T |
GENERAL INFORMATION
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Customers : |
·
Wholesalers ·
Retailers ·
Hotels |
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No. of Employees : |
40 (Approximately) |
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Bankers : |
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Indian Overseas Bank, R. K. Puram Branch, R. K. Puram,
New Delhi-110066, Delhi, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
BNPSY and Associates Chartered Accountant |
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Address : |
118 B, Munish Plaza, 20 Ansari Road, New Delhi-110001, Delhi, India |
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Associates/Subsidiaries
: |
NIL |
CAPITAL STRUCTURE
As On: 31.03.2011
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
445250 |
Equity Shares |
Rs. 10/- each |
Rs. 4.452
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
4.452 |
4.452 |
0.100 |
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2] Share Application Money |
0.127 |
0.127 |
4.480 |
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3] Reserves & Surplus |
1.014 |
0.746 |
0.523 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
5.593 |
5.325 |
5.103 |
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LOAN FUNDS |
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1] Secured Loans |
9.739 |
8.363 |
13.156 |
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2] Unsecured Loans |
0.755 |
0.370 |
0.950 |
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TOTAL BORROWING |
10.494 |
8.733 |
14.106 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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OTHERS |
0.000 |
0.001 |
0.000 |
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TOTAL |
16.087 |
14.059 |
19.209 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
6.431 |
6.970 |
6.992 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
1.336 |
1.378 |
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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 |
9.195
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11.352
|
10.307 |
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Sundry Debtors |
3.484
|
0.383
|
1.477 |
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Cash & Bank Balances |
0.036
|
0.209
|
0.047 |
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Other Current Assets |
0.384
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0.382
|
0.606 |
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Loans & Advances |
1.319
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2.510
|
2.813 |
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Total
Current Assets |
14.418
|
14.836
|
15.250 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
1.905
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1.104
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2.793 |
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Other Current Liabilities |
2.729
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7.898
|
1.513 |
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Provisions |
0.143
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0.100
|
0.128 |
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Total
Current Liabilities |
4.777
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9.102
|
4.434 |
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Net Current Assets |
9.641
|
5.734
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10.816 |
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MISCELLANEOUS EXPENSES |
0.015 |
0.019 |
0.023 |
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TOTAL |
16.087 |
14.059 |
19.209 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
32.429 |
26.938 |
36.368 |
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Other Income |
0.037 |
0.525 |
0.011 |
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TOTAL (A) |
32.466 |
27.463 |
36.379 |
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Less |
EXPENSES |
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Cost of Materials |
21.347 |
17.118 |
25.094 |
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Direct Expenses |
4.976 |
4.446 |
5.474 |
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Indirect Expenses |
3.848 |
3.829 |
3.936 |
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TOTAL (B) |
30.171 |
25.393 |
34.504 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2.295 |
2.070 |
1.875 |
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Less |
FINANCIAL
EXPENSES (D) |
1.244 |
1.098 |
1.200 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.051 |
0.972 |
0.675 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.640 |
0.650 |
0.262 |
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PROFIT BEFORE
TAX (E-F) (G) |
0.411 |
0.322 |
0.413 |
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Less |
TAX (H) |
0.143 |
0.100 |
0.127 |
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PROFIT AFTER TAX
(G-H) (I) |
0.268 |
0.222 |
0.286 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.746 |
0.523 |
0.237 |
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BALANCE CARRIED
TO THE B/S |
1.014 |
0.745 |
0.523 |
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Expected Sales (2011-2012) : Rs.45.000 Millions
The above information has been parted by Mr. Veneet S Khurana.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
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PAT / Total Income |
(%) |
0.82
|
0.81
|
0.79 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.26
|
1.19
|
1.13 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.97
|
1.48
|
1.86 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.06
|
0.08 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.73
|
3.35
|
3.63 |
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Current Ratio (Current Asset/Current Liability) |
|
3.01
|
1.63
|
3.44 |
LOCAL AGENCY FURTHER INFORMATION
NOTE :
Company was established in the year 1994 as a proprietory concern under the
name of “Green Earth Products”.
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Check List by
Info Agents |
Available in
Report (Yes / No) |
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1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
Yes |
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5) Type of Business |
Yes |
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6) Line of Business |
Yes |
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7) Promoter's background |
-- |
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8) No. of employees |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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11) Turnover of firm for last three years |
Yes |
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12) Profitability for last three years |
No |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
Yes |
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15) Capital in the business |
Yes |
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16) Details of sister concerns |
-- |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
Yes |
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20) Export / Import details (if
applicable) |
-- |
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21) Market information |
-- |
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22) Litigations that the firm / promoter
involved in |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
No |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
No |
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28) Incorporation details, if applicable |
-- |
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29) Last accounts filed at ROC |
-- |
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30) Major Shareholders, if available |
-- |
FORM 8
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Corporate
identity number of the company |
U51909DL2005PTC142791 |
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Name of the
company |
GREEN
EARTHPRODUCTS PRIVATE LIMITED |
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Address of the registered
office or of the principal place of
business in |
W – 105, Khuranas, Greater Kailash, Part – I, New Delhi – 110048,
India |
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This form is for |
Modification of charge |
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Type of charge |
Immovable property Others |
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Particular of
charge holder |
Indian Overseas Bank, R. K. Puram Branch, R. K. Puram, New
Delhi-110066, Delhi, India |
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Nature of
instrument creating charge |
F110E
Letter of Hypothecation, Confirmation Letter(Applicable for limited company
mortgagor)evidencing creation of supplemental mortgage dt.15-9-09 |
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Date of
instrument Creating the charge |
15.09.2009 |
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Amount secured by
the charge |
Rs. 2.998 millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest
at BPLR-0.25% Terms of
repayment Repayment
in 48 EMI at 73900/- from Sept.09 Repayment of term loan rephrased from 48
monthly installments to sixty monthly installments. Margin Margin
Land 50% Construction 40% Machinery 25% Extent and
operation of the charge First
charge on Hypothecation of machineries present and future collaterally
secured by EM of i)L and B at F-96,RIICO Industrial Area, Palsana, Sikar,
Rajasthan owned by the company ii)residential property at W-105,First Floor,
Greater Kailash-I, New Delhi owned by Mr. S. S. Khurana iii)property
at Garage Block, Ground Floor,W-105,Greater Kailash-I, New Delhi owned by Mr.
Veneet Khurana are to secure the Term loan of Rs.2.998 millions |
|
Short particulars
of the property charged (Including location of the property) |
First
charge on Hypothecation of machineries present and future collaterally
secured by EM of i)L and B at F-96,RIICO Industrial Area, Palsana, Sikar,
Rajasthan owned by the company ii)residential
property at W-105,First Floor, Greater Kailash-I, New Delhi owned by Mr. S.
S. Khurana iii)property
at Garage Block, Ground Floor,W-105,Greater Kailash-I, New Delhi owned by Mr.
Veneet Khurana |
|
Whether any of
the property or interest therein under reference is not registered in the
name of the company. |
Yes |
|
If yes, in whose
name it is registers |
As mentioned in Col.15 above |
|
Charge
identification number of the charge to be modified |
10059229 |
|
Particulars of
the present modification |
The Term
loan is reduced from Rs.4.800 millions to Rs.2.998 millions Outstanding)
Security: First charge on Hypothecation of machineries present and future
collaterally secured by EM of i)L and B at F-96,RIICO Industrial Area,
Palsana, Sikar, Rajasthan owned by the company ii)residential
property at W-105,First Floor, Greater Kailash-I, New Delhi owned by Mr. S.
S. Khurana iii)property
at Garage Block, Ground Floor,W-105,Greater Kailash-I, New Delhi owned by Mr.
Veneet Khurana |
TRADE REFERENCE
·
Puneet Exports
FIXED ASSETS
·
Air Conditioner
·
Maruti Swift Car
·
Maruti SX4 Car
·
Computer
·
Fax Machine
·
Furniture
·
Machinery
·
Mobile Set
·
PBX
·
Printer
·
Photocopier
·
Building Under Construction
·
Industrial Building
·
Industrial Plot
·
Motor Pump
·
Scanner
·
Water Heater
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.50.27 |
|
|
1 |
Rs.80.27 |
|
Euro |
1 |
Rs.68.44 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
27 |
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.