1. Summary Information
|
|
|
Country |
India |
|
Company Name |
Mystical Biotech Private Limited |
Principal Name 1 |
Mr. Ashok Annarao Hublikar |
|
Status |
Moderate |
Principal Name 2 |
Mr. Udaykumar Nadig |
|
|
|
Registration # |
08-035431 |
|
Street Address |
No.19 B, Kiadb Industrial Area, Hoskote, Bangalore Rurai District,
Bangalore – 562114, Karnataka, India |
||
|
Established Date |
17.01.2005 |
SIC Code |
-- |
|
Telephone# |
91-80-27971200/ 201/ 57738865/ 57720108 |
Business Style 1 |
Manufacture |
|
Fax # |
91-80-27971201 |
Business Style 2 |
Probiotic Culture for Human and Live Feeds |
|
Homepage |
-- |
Product Name 1 |
-- |
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.7,00,000/-
|
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of
directors- 100% |
Banking |
State Bank of India |
|
Public Limited Corp. |
No |
Business Period |
6 years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
Ca (11) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2009 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
3,651,000 |
Current Liabilities |
1,079,000 |
|
Inventories |
919,000 |
Long-term Liabilities |
20,834,000 |
|
Fixed Assets |
15,923,000 |
Other Liabilities |
495,000 |
|
Deferred Assets |
0,000,000 |
Total Liabilities |
22,408,000 |
|
Invest& other Assets |
1,688,000 |
Retained Earnings |
0,000,000 |
|
|
|
Net Worth |
(227,000) |
|
Total Assets |
22,181,000 |
Total Liab. & Equity |
22,181,000 |
|
Total Assets (Previous Year) |
22,438,000 |
|
|
|
P/L Statement as of |
31.03.2009 |
(Unit: Indian Rs.) |
|
|
Sales |
7,481,000 |
Net Profit |
(811,000) |
|
Sales(Previous yr) |
5,643,000 |
Net Profit(Prev.yr) |
4,000 |
MIRA
INFORM REPORT
|
Report Date : |
26.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
MYSTICAL BIOTECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No.19 B, Kiadb Industrial Area, Hoskote, Bangalore Rurai District,
Bangalore – 562114, Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2009 |
|
|
|
|
Date of Incorporation
: |
17.01.2005 |
|
|
|
|
Com. Reg. No.: |
08-035431 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.700 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U05190KA2005PTC035431 |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer of Probiotic Culture for Human and Live Feeds. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
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 |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. The
management denied to provide any information. The latest financial of the company
are missing from the government department. However, trade relations are
reported as fair. 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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
|
|
|
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION DECLINED BY
|
Name : |
Mr. Ashok Hablikar |
|
Designation : |
Director |
|
Contact No.: |
91-9448295985 |
|
Date : |
22.09.2011 |
LOCATIONS
|
Registered Office : |
No.19 B, Kiadb Industrial Area, Hoskote, Bangalore Rurai District,
Bangalore – 562114, Karnataka, India |
|
Tel. No.: |
91-80-27971200/ 201/ 57738865/ 57720108 |
|
Mobile No.: |
91-9448295985 (Mr. Ashok Hablikar) |
|
Fax No.: |
91-80-27971201 |
|
E-Mail : |
DIRECTORS
(AS ON 30.09.2009)
|
Name : |
Mr. Ashok Annarao Hublikar |
|
Designation : |
Director |
|
Address : |
No.102, R K Apartment, Block No.19, Ramamurthy Nagar, Bangalore –
560016, Karnataka, India |
|
Date of Appointment : |
17.01.2005 |
|
DIN No.: |
02046765 |
|
|
|
|
Name : |
Mr. Udaykumar Nadig |
|
Designation : |
Director |
|
Address : |
No.104, R K Apartment, Block No.19, Ramamurthy Nagar, Bangalore –
560016, Karnataka, India |
|
Date of Appointment : |
17.01.2005 |
|
DIN No.: |
01918127 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2009)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Ashok Annarao Hublikar |
|
35000 |
|
Udaykumar Nadig |
|
35000 |
|
|
|
|
|
Total |
|
70000 |
(AS ON 30.09.2009)
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Probiotic Culture for Human and Live Feeds. |
||||||
|
|
|
||||||
|
Products : |
|
GENERAL INFORMATION
|
Suppliers : |
· AB Mauri India Private Limited · Afco Engineers (India) · Asha Chemicals · Bangalore Test House · Bronzc Communication Private Limited · Excel Industries Limited · Fibre Shells Limited · Jai Maruthi Service Station · KPC Filtech Private Limited · Maruthi Gas Company · Microbax (India) Limited · Neon Labs Chemicals · Pawar Chemicals · SAM Industries · Sri Balaji Traders · Unique Bio Tech Limited |
|||||||||||||||||||||||||||||||||||||||||||||
|
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|
|||||||||||||||||||||||||||||||||||||||||||||
|
Customers : |
· Animal Biotech Private Limited · Aamoda Pharmaceuticals · A V R Industries · Intercrop Biosciences Private Limited · Joysons Agritech Private Limited · Microbax (India) Limited · Mundra Enterprises · Natural Remidies Private Limited · Novel Links · Numbur Laboratories · RSG Enterprises · Sun Bio Formulations Private Limited · Zeus Biotech Limited · Zymontrients Private Limited |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
State Bank of India SAMG
Branch, No. 61, 4th Floor, Residency Plaza, Residency Road, Bangalore -
560025, Karnataka, India |
|||||||||||||||||||||||||||||||||||||||||||||
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|
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|
Facilities : |
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Vallinath and Sham Chartered Accountant |
|
Address : |
No.59, Lavanya Towers, 1st Floor, 4th Main
Behind Kendriya Vidyalaya, 18th Cross, Malleshwaram, Bangalore –
560055, Karnataka, India |
|
Tel. No.: |
91-80-23361177/ 23443548 |
|
Fax No.: |
91-80-23562369 |
|
Email : |
CAPITAL STRUCTURE
(AS ON 31.03.2009)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Share |
Rs.10/- each |
Rs.1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
70000 |
Equity Share |
Rs.10/- each |
Rs.0.700 Million
|
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.700 |
0.700 |
0.700 |
|
|
2] Share Application Money |
0.300 |
0.300 |
0.300 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(1.227) |
0.000 |
0.000 |
|
|
NETWORTH |
(0.227) |
1.000 |
1.000 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
14.698 |
14.433 |
13.829 |
|
|
2] Unsecured Loans |
6.136 |
6.136 |
6.136 |
|
|
TOTAL BORROWING |
20.834 |
20.569 |
19.965 |
|
|
DEFERRED TAX LIABILITIES |
0.416 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
21.023 |
21.569 |
20.965 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
15.923 |
16.572 |
16.926 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.919
|
1.445 |
0.964 |
|
|
Sundry Debtors |
3.536
|
2.214 |
1.288 |
|
|
Cash & Bank Balances |
0.022
|
0.007 |
0.005 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.093
|
0.093 |
0.093 |
|
Total
Current Assets |
4.570
|
3.759 |
2.350 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
1.079
|
0.811 |
0.395 |
|
|
Other Current Liabilities |
0.000
|
0.000
|
0.000 |
|
|
Provisions |
0.079
|
0.058 |
0.031 |
|
Total
Current Liabilities |
1.158
|
0.869 |
0.426 |
|
|
Net Current Assets |
3.412
|
2.890 |
1.924 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
1.688 |
2.107 |
2.115 |
|
|
|
|
|
|
|
|
TOTAL |
21.023 |
21.569 |
20.965 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover/ Receipts |
7.481 |
5.643 |
1.756 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
8.288 |
5.632 |
2.326 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(0.807) |
0.007 |
(0.570) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.004 |
0.003 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
(0.811) |
0.004 |
(0.570) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(11.59) |
0.04 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.94)
|
0.03 |
(2.96) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
3.56
|
0.01 |
(0.57) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(96.88)
|
21.44 |
20.39 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.95
|
4.33 |
5.52 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
The Registered Office of the company has been shifted from, R K
Apartment, Block No.19, Ramamurthy Nagar, Bangalore – 560016, Karnataka, India,
to the present address w.e.f. 15.03.2006.
OPERATING RESULTS:
Company has incurred a loss of Rs.0.811 Million during the year. The
directors of the company are making all effort to achieve positive results in
next year.
FORM 8:
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
90193036 |
|
Corporate
identity number of the company |
U05190KA2005PTC035431 |
|
Name of the
company |
MYSTICAL BIOTECH
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
R K Apartment,
Block No.19, Ramamurthy Nagar, Bangalore – 560016, Karnataka, India |
|
Type of charge |
Immovable property Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
State Bank of
India ITI Ancillary
Industrial Estate, Mahadevapura Branch, Whitefield Road, Mahadevapura,
Bangalore – 560048, Karnataka, India |
|
Nature of
description of the instrument creating or modifying the charge |
Agreement Of Loan
Cum Hypothecation SME - 2; Link
Letter- SME 12 And Equitable Mortgage
By Deposit Of Title Deeds - Confirmatory Letter/Banks Recital Enclosed (Both/All The Above Pertain To The
Same Charge) |
|
Date of
instrument Creating the charge |
19.12.2006 |
|
Amount secured by
the charge |
Rs.13.900
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Rate: WCL- at 1.50%
Above SBAR 11.25% with a Minimum of 12.75% p.a. rising or falling therewith,
on daily products with monthly rests. pre. eff. rate 12.75% per annum. TL: 2% above SBAR
11% with a minimum of 13% p.a. rising or falling therewith, on daily products
with monthly rests. pre. eff. rate
13% per annum. penal Int for non compliance of terms of
sanction: max 2% per annum
over the normal rate. Wherever expedient, Intt. rate
is directly linked to CRA of the borrower. Terms of
Repayment Working Capital
Facility repayable on demand. period of advance: For Term Loan :
In 60- TL - 1 Instalments repayment to start from April
2007 Margin Raw Materials -
Semifinished Goods/ Finished Goods -
25% Domestic
Receivables -25% Term Loan -- 34.39% Extent and
Operation of the charge Exclusive first
charge on the assets of the company and to the full extent. Others Cash Credit-
(Hypothecation of Stocks and Receivables-) Rs.150.000 Millions Term Loan – (1) Rs.10.700
Millions, Term Loan (2) Rs.1.700
Millions, Total Limit of Rs.13.900 Millions. Land and Building (Built/to be built) Situated at Plot No. 19 - B, KIADB Industrial Area, Sy. No. 08 and 81 of Hoskote
Industrial Area, Bangalore – 562114, Measuring An Extent of 3791 sq. mtrs. |
|
Short particulars
of the property charged |
Hypo of present
and future all of the borrower's stocks of Raw Materials; Semi Finished and
Finished Goods; Stores, Spares, Tools, Accessories, Components, Book Debts,
Bills, Claims, Receivables, Outstandings, Plant and Machineries, other
movable assets etc wherever situate, held or stored or in transit or in the
custody of any third party. |
|
Particulars of
the present modification |
The amount
secured by the charge stands increased from Rs.12.200 Millions to Rs.13.900
Millions. Security of current assets movable fixed assets other movables and
immovable properties already obtained
for the enhanced limit also all other
terms and conditions remain unchanged |
FIXED ASSETS
· Land
· Building
· Plant and Machineries
· Software
· Computers and Printers
· Furniture and Fixtures
· Office Equipments
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.49.67 |
|
|
1 |
Rs.76.50 |
|
Euro |
1 |
Rs.66.98 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
-- |
|
--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 |
|
11 |
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.