MIRA
INFORM REPORT
|
Report Date : |
28.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
AGRITECH ENGINEERING PRIVATE LIMITED |
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|
|
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Registered
Office : |
92/1 A, Nagarajareddy Layout, Doddatogur Road, Kannappana Agrahara,
Electronic City, Bangalore - 560100, Karnataka |
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|
Country : |
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Financials (as
on) : |
31.03.2008 |
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|
Date of
Incorporation : |
13.12.2007 |
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|
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Com. Reg. No.: |
08-044657 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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|
CIN No.: [Company Identification
No.] |
U29210KA2007PTC044657 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRA10153D |
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|
Legal Form : |
Private Limited Liability Company |
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|
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|
Line of Business
: |
Manufacturer and Seller of Agricultural Machines. |
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|
No. of Employees
: |
45 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a company having moderate track. The management has not
filed the financials of the company with the government departments after the
year 2008. However, business is active. Payments are unknown. The company can be considered for business dealings on a secured 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Sunderesh |
|
Designation : |
Accountant |
|
Contact No.: |
91-80-27832329 |
|
Date : |
05.11.2011 |
LOCATIONS
|
Registered Office : |
92/1 A, Nagarajareddy Layout, Doddatogur Road, Kannappana Agrahara,
Electronic City, Bangalore - 560100, Karnataka, India |
|
Tel. No.: |
91-80-28522189/28522190 |
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Fax No.: |
91-80-28522188 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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|
|
|
Factory/ Branch Office : |
No. 235, N – 1, 3rd Phase, K.I.D.B., Bommasandra Industrial
Area, Hosur Road, Bangalore – 560099, Karnataka, India |
|
Tel. No.: |
91-80-27832329 |
|
Fax No.: |
91-80-27832328 |
DIRECTORS
As on 26.09.2008
|
Name : |
Ms. Sushila |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Ashokbabu Doddathoguru Nagaraja |
|
Designation : |
Director |
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Address : |
191, Konappana Agrahara, |
|
Date of Birth/Age : |
10.07.1977 |
|
Date of Appointment : |
13.12.2007 |
KEY EXECUTIVES
|
Name : |
Mr. Sunderesh |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.09.2008
|
Names of Shareholders |
|
No. of Shares |
|
Ashokbabu Doddathoguru Nagaraja |
|
5000 |
|
Kumar Vinayagam |
|
5000 |
|
Total |
|
10000 |
Equity Share Break up (Percentage of Total Equity)
As on 26.09.2008
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Seller of Agricultural Machines. |
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|
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Products : |
·
De-Huskers ·
Paddy Separators ·
White Plus Polishers ·
Silky Polishers ·
Rice Shifters ·
Vibro Shellers ·
De- Stoners ·
Rice Graders ·
Paddy Cleaners ·
Color Sorters ·
Cyclone Units ·
Bran Dischargers ·
Rice Hulling Machines, etc. |
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|
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Exports : |
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Products : |
Rice Machineries |
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Countries : |
Bangladesh |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
L/C |
GENERAL INFORMATION
|
No. of Employees : |
45 (Approximately) |
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|
Bankers : |
§
Punjab National Bank, No.1, 50 F T Road, HMT
Layout, Anandnagar, Bangalore – 560024, Karnataka, India §
Bank of Karnataka, Karnataka, India |
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|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Hiremath and Company Chartered Accountants |
|
Address : |
147, I and II Floor, Dr. D V G Road, Gandhi Bazar Circle, Basavanagudi,
Bangalore – 560004, Karnataka, India |
|
Tel. No.: |
91-80-26604014/ 22425631/ 65976089 |
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Mobile No.: |
91-80-26604014/ 22425631 |
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Fax No.: |
CAPITAL STRUCTURE
After 26.09.2008
Authorised Capital
: Rs.10.000 Millions
Issued, Subscribed
& Paid-up Capital : Rs.6.100 Millions
As on 31.03.2008
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.100 |
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|
2] Share Application Money |
|
|
1.000 |
|
|
3] Reserves & Surplus |
|
|
0.084 |
|
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4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1.184 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
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|
2] Unsecured Loans |
|
|
0.000 |
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|
TOTAL BORROWING |
|
|
0.000 |
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|
DEFERRED TAX LIABILITIES |
|
|
0.018 |
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|
|
|
|
|
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TOTAL |
|
|
1.202 |
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|
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|
|
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|
APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
|
|
0.378 |
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|
Capital work-in-progress |
|
|
0.000 |
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|
|
|
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INVESTMENT |
|
|
0.000 |
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DEFERREX TAX ASSETS |
|
|
0.000 |
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|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
|
|
0.212 |
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|
Sundry Debtors |
|
|
1.078 |
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Cash & Bank Balances |
|
|
0.107 |
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|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.502 |
|
Total
Current Assets |
|
|
1.899 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors and Current Liabilities |
|
|
0.781 |
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|
Provisions |
|
|
0.330 |
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Total
Current Liabilities |
|
|
1.111 |
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Net Current Assets |
|
|
0.788 |
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|
MISCELLANEOUS EXPENSES |
|
|
0.036 |
|
|
|
|
|
|
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TOTAL |
|
|
1.202 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
|
|
3.877 |
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Other Income |
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|
0.000 |
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TOTAL |
|
|
3.877 |
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EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
|
|
3.606 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
0.271 |
|
|
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|
Less/ Add |
DEPRECIATION/ AMORTISATION |
|
|
0.027 |
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|
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|
|
|
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|
PROFIT BEFORE
TAX |
|
|
0.153 |
|
|
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Less |
TAX |
|
|
0.118 |
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PROFIT AFTER TAX
|
|
|
0.035 |
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|
Earnings Per
Share (Rs.) |
|
|
8.44 |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2008 |
|
PAT / Total Income |
(%) |
|
|
0.90 |
|
|
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|
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|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
3.95 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
6.72 |
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Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.13 |
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Debt Equity Ratio (Total Liability/Networth) |
|
|
|
0.94 |
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|
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|
Current Ratio (Current Asset/Current Liability) |
|
|
|
1.71 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
-- |
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8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
No |
|
12) Profitability for last three years |
No |
|
13) Reasons for variation <> 20% |
No |
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14) Estimation for coming financial year |
No |
|
15) Capital in the business |
No |
|
16) Details of sister concerns |
No |
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17) Major suppliers |
No |
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18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
No |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
No |
|
28) Incorporation details, if applicable |
-- |
|
29) Last accounts filed at ROC |
-- |
|
30) Major Shareholders, if available |
-- |
FORM 8
|
Corporate
identity number of the company |
U29210KA2007PTC044657 |
|
Name of the
company |
AGRITECH ENGINEERING PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
92/1A, Electronic City, Phase – 1, Dodda Thogur Road, Konappa Arghara,
Electronic City Post, Bangalore – 560100, Karnataka, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
Punjab National
Bank No.1, 50 F T Road, HMT Layout, Anandnagar, Bangalore – 560024,
Karnataka, India Email Id : tr_jairam@vsnl.net |
|
Nature of
instrument creating charge |
Agreement of
Hypothecation of Goods and Book Debts to Secure Cash Credit Facility |
|
Date of
instrument Creating the charge |
19.12.2008 |
|
Amount secured by
the charge |
Rs.10.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest BPLR (As
applicable new borrower) presently @ 12.5% p.a. monthly compounded, subject
to charge on the basis of risk rating over every year. Any changes from time
to time will be applicable. Terms of Repayment CC – Running
Account repayable on Demand Margin 25% against
Stocks and 40% against Book Debts Extent and Operation of the charge The charge shall
operate to the extent of rs.10.000 Millions plus interests, commission,
costs, expenses and other charges thereon Others Nil |
|
Particulars of
the property charged |
Hypothecation of
present and future stocks and Book debts and other current assets belonging to
the company stored/ installed at No.92, electronic city Phase I, Dooda Tagur
Road, Konappana Agrahara, electronic Post, Bangalore 560100 or at any other
place. |
FIXED ASSETS:
§
Computer
§
Laptop
§
Furniture and fixture
§
Printers
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.52.17 |
|
|
1 |
Rs.80.64 |
|
Euro |
1 |
Rs.69.43 |
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.