|
Report Date : |
10.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
PRODERNA BIOTECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
D 12, Okhla Industrial Area, Part I, New Delhi 110020 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
04.12.2006 |
|
|
|
|
Com. Reg. No.: |
156177 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.13.555 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999DL2006PTC156177 |
|
|
|
|
Legal Form : |
Private Limited Liability Company
|
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Spice, Herb, Extract with Super Critical
Co-tube Process. |
|
|
|
|
No. of Employees
: |
7 Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 33268 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track. There appears
to be huge accumulated losses recorded by the company. However, trade
relations are reported as fair. Business is active. Payments are reported to
be slow. 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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Deepak |
|
Designation : |
Director |
|
Contact No.: |
91-9810113576 |
|
Date : |
20.03.2012 |
LOCATIONS
|
Registered Office : |
D 12, Okhla Industrial Area, Part I, New Delhi 110020, India |
|
Mobile No.: |
91-9810113576 (Mr. Deepak) |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
205, Elite House, 36, Zamrudpur Community Centre, New Delhi 110048,
Delhi, India |
|
|
|
|
Factory : |
Located At: Bhiwadi, Rajasthan |
DIRECTORS
AS ON 30.08.2011
|
Name : |
Mr. Arun K Mittal |
|
Designation : |
Director |
|
Date of Birth/Age : |
30.06.1954 |
|
Date of Appointment : |
04.12.2006 |
|
|
|
|
Name : |
Mr. Deepak Soota |
|
Designation : |
Director |
|
Date of Birth/Age : |
16.08.1953 |
|
Date of Appointment : |
04.12.2006 |
|
|
|
|
Name : |
Mr. Prem Chand Goel |
|
Designation : |
Director |
|
Date of Birth/Age : |
10.01.1943 |
|
Date of Appointment : |
04.12.2006 |
|
|
|
|
Name : |
Mr. Christof Kersch |
|
Designation : |
Director |
|
Date of Birth/Age : |
06.08.1972 |
|
Date of Appointment : |
09.04.2007 |
|
|
|
|
Name : |
Mr. Paulus A Marcus Stoffels |
|
Designation : |
Director |
|
Date of Birth/Age : |
08.02.1957 |
|
Date of Appointment : |
09.04.2007 |
|
|
|
|
Name : |
Mr. Greet Feye Woerlee |
|
Designation : |
Director |
|
Date of Birth/Age : |
07.01.1962 |
|
Date of Appointment : |
09.04.2007 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.08.2011
|
Names of Shareholders |
No. of Shares |
|
Arun K Mittal |
230446 |
|
Deepak Soota |
230446 |
|
Prem Chand Goel |
13446 |
|
Anuradha Goel |
87000 |
|
Feycon, Netherlands |
664224 |
|
Kanta Goel |
44500 |
|
Manish Goel |
6000 |
|
Preeti Goel |
50500 |
|
Saurabh Textiles Private Limited, New Delhi, India |
29000 |
|
Total
|
1355562 |
AS ON 30.08.2011
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
48.99 |
|
Bodies corporate |
|
2.15 |
|
Directors or relatives of directors |
|
48.86 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Spice, Herb, Extract with Super Critical
Co-tube Process. |
|
|
|
|
Exports : |
|
|
Countries : |
·
European Countries ·
United States ·
Australia |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit |
|
Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Suppliers : |
Florida Agro Corp Company |
||||||||||||||||||
|
|
|
||||||||||||||||||
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Customers : |
·
Wholesaler ·
Retailers ·
Pepsico India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
7 Approximately |
||||||||||||||||||
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|
|
||||||||||||||||||
|
Bankers : |
·
HDFC Bank, New Delhi ·
Canara Bank, South Extension, Part I, New Delhi
110049, India ·
ABN Amro Bank |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
Rs. In Millions
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Tandon Brij and Company Chartered Accountant |
|
Address : |
105-106, Ara Centre, E2, Jhandewalan Extenstion, New Delhi 110005,
India |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 30.08.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1500000 |
Equity Shares |
Rs. 10 each |
Rs.15.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1355562 |
Equity Shares |
Rs. 10 each |
Rs.13.555 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
13.555 |
13.555 |
13.555 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1.250 |
1.250 |
1.250 |
|
|
4] (Accumulated Losses) |
(6.488) |
(6.245) |
(5.437) |
|
|
NETWORTH |
8.317 |
8.560 |
9.368 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.330 |
0.330 |
0.330 |
|
|
TOTAL BORROWING |
0.330 |
0.330 |
0.330 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
8.647 |
8.890 |
9.698 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
5.226 |
6.145 |
7.201 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.168 |
1.376 |
0.858 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1.434
|
0.654 |
0.848 |
|
|
Sundry Debtors |
0.569
|
0.246 |
0.197 |
|
|
Cash & Bank Balances |
0.279
|
0.303 |
0.200 |
|
|
Other Current Assets |
0.130
|
0.130 |
0.130 |
|
|
Loans & Advances |
0.233
|
0.522 |
0.712 |
|
Total
Current Assets |
2.645
|
1.855 |
2.087 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.283
|
0.174 |
0.166 |
|
|
Other Current Liabilities |
0.158
|
0.440 |
0.467 |
|
|
Provisions |
0.011
|
0.011 |
0.000 |
|
Total
Current Liabilities |
0.452
|
0.625 |
0.633 |
|
|
Net Current Assets |
2.193
|
1.230 |
1.454 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.060 |
0.139 |
0.185 |
|
|
|
|
|
|
|
|
TOTAL |
8.647 |
8.890 |
9.698 |
|
PROFIT & LOSS
ACCOUNT
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
13.000 |
Expected Sales (2011-2012) : Rs.16.000 millions
The above information has been parted by Mr. Deepak
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(0.247) |
(0.822) |
(2.916) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.13) |
(10.27) |
(31.39) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.02)
|
(0.09) |
(0.31) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.09
|
0.11 |
0.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.85
|
2.96 |
3.29 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULTS
This year the company has incurred a loss before taxes of Rs. 0.247 million.
The results are better than the last year and the directors are hopeful of
posting better results in the forth coming years.
FIXED ASSETS:
·
Computer
·
Electrical Fitting
·
Furniture and Fixture
·
Plant and Machinery
FORM 8
|
Corporate identity
number of the company |
U74999DL2006PTC156177 |
|
Name of the
company |
PRODERNA BIOTECH PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
D 12, Okhla Industrial Area, Part I, New Delhi 110020, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) Others |
|
Particular of
charge holder |
Canara Bank, South Extension, Part I, New Delhi 110049, India Email: tcjoshi1979@gmail.com
|
|
Nature of
instrument creating charge |
(i) Cash Credit agreement (ii)Agreement Re:
Advances Against Book Debts as prime security (iii) Agreement Re:
Collateral security: Machinery : Vehicles |
|
Date of
instrument Creating the charge |
13.10.2008 |
|
Amount secured by
the charge |
Rs. 2.500
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest The above is to
secure OCC Limit of Rs 2.500 millions with interest or at such rates as may be specified by the Bank from
time to time Terms of repayment As per agreement Margin As per agreement Extent and operation of the charge 100% Other OCC of Rs 2.500
millions |
|
Short particulars
of the property charged (Including location of the property) |
Primary Security
: Hypothecation all stocks and Book Debts both present and future of the
company. Collateral
security: Hypothecation all the Plant
and Machineries, Tools, Accessories and
Vehicles more particularly described
in the Schedule-A
and lying at C-583,RIICO
Industrial Area, Bhiiwadi (Raj)or at any other place wheresoever
including those in Transit. |
|
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 |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last One years |
Yes |
|
12) Profitability for last One years |
-- |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
Yes |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if
applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
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.51.27 |
|
|
1 |
Rs.81.38 |
|
Euro |
1 |
Rs.67.01 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
28 |
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.