MIRA
INFORM REPORT
|
Report Date : |
15.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
ALLANASONS LIMITED |
|
|
|
|
Registered Office : |
Allana
House, 4, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
01.02.1973 |
|
|
|
|
Com. Reg. No.: |
11-16285 |
|
|
|
|
Paid up Capital : |
Rs. 19.600 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U51990MH1973PLC016285 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA21423D |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACA4533D |
|
|
|
|
Legal Form : |
A Closely held Public Limited Liability Company. |
|
|
|
|
Line of Business : |
Exporter of agricultural and processed food products |
|
|
|
|
No of Employees : |
2000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (72) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 7184408 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Allana Group, a respectable trading house. Trade relations are fair. Directors are resourceful and experienced businessmen. Payments are usually correct and as per commitments. The company can be considered good for normal 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.
INFORMATION DENIED BY
|
Name : |
Mr. Irfan |
|
Designation : |
Finance Manager |
|
Date : |
14.09.2011 |
LOCATIONS
|
Registered Office : |
Allana
House, 4, |
|
Tel. No.: |
91-22-2287 4455 / 2285 6474 / 2281 1000 |
|
Fax No.: |
91-22-2204 4821 / 2204 7002 / 22797742 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
Allana Centre, 113/115 M G Road, Fort, Mumbai – 400001, |
|
Tel. No.: |
91-22-22628000/66569000 |
|
Fax No.: |
91-22-22695700/22695701 |
|
E-Mail : |
|
|
|
|
|
Branch 1 : |
26/3-3, |
|
Tel. No.: |
91-80-22612354 / 2267007 |
|
Fax No.: |
91-80-22251041 |
|
E-Mail : |
|
|
Telex: |
845 8027 ALAN IN |
|
|
|
|
Branch 2: |
Nicco House, 5th
Floor, 2, |
|
Tel. No.: |
91-33-222487041 / 22487008 |
|
Fax No.: |
91-33-22248896 |
|
E-Mail : |
|
|
Telex: |
217244 ALAN IN / 217360 ALNA IN |
|
|
|
|
Branch 3: |
|
|
Tel. No.: |
91-40-22849047 /22842897 |
|
Fax No.: |
91-40-22867633 |
|
E-Mail : |
|
|
Telex: |
4252437 ALANA IN |
|
|
|
|
Branch 4: |
Post Box No. 632, Door No.
XXIV/199-A, |
|
Tel. No.: |
91-484-2667199 / 2666180 |
|
Fax No.: |
91-484-2668260 |
|
E-Mail : |
|
|
Telex: |
8856627 ALNA IN |
|
|
|
|
Branch 5: |
Kuthar Padavu, |
|
Tel. No.: |
91-824-2467376 / 2467047 |
|
Fax No.: |
91-824-2467376 |
|
|
|
|
Branch 5: |
10, Scindia House, 2nd
Floor, Connaught Circus, Tel No. 91-11-23311075 /
23320699 Fax No. 91-11-23325627 |
|
|
|
|
Branch 6: |
Post Box No. 117, Tel No. 91-8172-268045 / 266373
/ 267329 Fax No. 91-8172-261883 / 264570 Telex : 8306217 ACCW IN |
|
|
|
|
Branch 7: |
Plot 51-56, GIDC Estate, Veraval
– 362 269, Tel No. 91-2876-221054 / 221069 Fax No. 91-2876-241002 |
|
|
|
|
Branch 8: |
Tel No. 91-240-2353452 / 2353440 Fax No. 91-240-234876 E Mail : frigorif@bom5.vsnl.net.in |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Irfan Abdul Razak Allana |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
29.03.1959 |
|
Date of Appointment : |
24.10.2001 |
|
|
|
|
Name : |
Kantilal Chandulal Mehta |
|
Designation : |
Director |
|
Address : |
607, Veena Vihar, 17 A, |
|
Date of Birth/Age : |
13.11.1929 |
|
Date of Appointment : |
11.01.2003 |
Other Directorship
Name:
|
KANTILAL
CHANDULAL MEHTA
|
|
|
|
|
|
Name : |
Mr. T K Gowrishankar |
|
Designation : |
Director |
|
Address : |
12, |
|
Date of Birth/Age : |
16.03.1950 |
|
Date of Appointment : |
01.10.2002 |
Other Directorship
Name:
|
GOWRISHANKAR
KUPPUSWAMY TIRUMANGALAM
|
|
|
|
|
KEY EXECUTIVES
|
Name : |
Mr. Haridas |
|
Designation : |
Finance Head |
|
|
|
|
Name: |
Mr. Aqueel A. Mulla |
|
Designation: |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Irfan A.R. Allana |
|
1672 |
|
Feroz A.R. Allana Jointly with |
|
1670 |
|
|
|
1670 |
|
Phoenicia Shipping Company Limited, Mumbai |
|
159628 |
|
Allana Investments and Trading Company Limited, Mumbai |
|
31360 |
|
Total |
|
196000 |
AS ON 30.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Bodies corporate |
|
97.44 |
|
Foreign holdings( Foreign institutional investor(s), Foreign
companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas
Corporate bodies or Others |
|
2.56 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Exporter of agricultural and processed food products |
||||||||||||||
|
|
|
||||||||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
2000 (Approximately) |
|
|
|
|
Bankers : |
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Rajendra and Company Chartered Accountants |
|
Address : |
1311, |
|
Tel. No.: |
91-22-2285 5770 |
|
Fax No.: |
91-22-2283 4243 |
|
E-Mail : |
|
|
|
|
|
Holding Company : |
|
|
|
|
|
Associates/Subsidiaries : |
|
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,00,000 |
Equity Shares |
Rs.100/- each |
Rs. 20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,96,000 |
Equity Shares |
Rs.100/- each |
Rs. 19.600 Millions |
|
|
|
|
|
Note – of the above 80,500 shares were allotted as fully
paid bonus shares by capitalization of reserves
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
19.600 |
9.800 |
9.800 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1776.502 |
1474.610 |
1178.953 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1796.102 |
1484.410 |
1188.753 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1796.102 |
1484.410 |
1188.753 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
152.300 |
163.530 |
115.240 |
|
|
Capital work-in-progress |
20.682 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
818.430 |
818.450 |
294.049 |
|
|
DEFERREX TAX ASSETS |
0.890 |
0.450 |
0.619 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3907.063
|
2858.347 |
2144.053 |
|
|
Sundry Debtors |
1958.509
|
2350.012 |
1351.310 |
|
|
Cash & Bank Balances |
1411.253
|
1343.732 |
1049.530 |
|
|
Other Current Assets |
0.000
|
0.000 |
12.373 |
|
|
Loans & Advances |
233.999
|
187.904 |
245.492 |
|
Total
Current Assets |
7510.824
|
6739.995 |
5739.788 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
6401.287
|
5953.877 |
4778.106 |
|
|
Other Current Liabilities |
294.451
|
272.760 |
169.750 |
|
|
Provisions |
11.286
|
11.468 |
13.087 |
|
Total
Current Liabilities |
6707.024
|
6238.105 |
4960.943 |
|
|
Net Current Assets |
803.800
|
501.890 |
778.845 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1796.102 |
1484.410 |
1188.753 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
37300.765 |
35805.829 |
30200.839 |
|
|
|
Other Income |
1.713 |
2.183 |
0.481 |
|
|
|
TOTAL (A) |
37302.478 |
35808.012 |
30201.320 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases |
33168.473 |
29660.798 |
24431.833 |
|
|
|
Manufacturing and Other Expenses |
4589.765 |
5642.448 |
6374.601 |
|
|
|
Variation in stock |
(988.810) |
5.934 |
(826.317) |
|
|
|
TOTAL (B) |
36769.428 |
35309.180 |
29980.117 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
533.050 |
498.832 |
221.203 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
19.346 |
11.278 |
3.974 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
513.704 |
487.554 |
217.229 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
30.874 |
22.572 |
12.586 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
482.830 |
464.982 |
204.643 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
174.649 |
169.142 |
81.079 |
|
|
|
|
|
|
|
|
|
Less |
Short/(Excess) Provisions
for Taxation |
6.286 |
0.181 |
32.852 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
301.895 |
295.659 |
90.712 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1271.682 |
976.026 |
885.315 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1573.577 |
1271.685 |
976.027 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.80
|
0.82 |
0.30 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.29
|
1.29 |
0.67 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.30
|
6.73 |
3.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.31 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.73
|
4.20
|
4.17
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.11
|
1.08
|
1.15
|
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors Details
|
Particulars |
31.03.2010 (Rs. In
Millions) |
31.03.2009 (Rs. In
Millions) |
31.03.2008 (Rs. In
Millions) |
|
Sundry Creditors
|
6401.287 |
5953.877 |
47788.106 |
Fixed
Assets:
· Land
·
· Road
· Plant and Machinery
· Furniture and Fixtures
· Office Equipments
· Electrical Installations
· Vehicles.
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 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.47.84 |
|
|
1 |
Rs.75.40 |
|
Euro |
1 |
Rs.65.67 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
72 |
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.