MIRA
INFORM REPORT
|
Report Date : |
10.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
SARAJU AGRIWAYS EXPORTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
235 / 2A, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
07.06.1999 |
|
|
|
|
Com. Reg. No.: |
21-089558 |
|
|
|
|
Capital Investment/
Paid-up Capital: |
Rs.13.700 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51109WB1999PTC089558 |
|
|
|
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCS4360M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and trader of Ball pen |
|
|
|
|
No. of
Employees: |
110 (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 75376 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow and correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Company has
been successful in wiping off the accumulated losses of previous year. Trade
relations are reported as fair. Business is active. Payments are reported to
be slow but correct. 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 – 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Pernendu |
|
Designation : |
Director |
|
Contact No.: |
91-9748700456 |
|
Date : |
10.03.2012 |
LOCATIONS
|
Registered Office : |
235 / 2 A, A.J.S. Bose Road, 3rd Floor, Bhawanipur, Kolkata
– 700020, West Bengal, India |
|
Tel. No.: |
91-33-64546046/ 24071901 |
|
Mobile No.: |
91-9748700456/ 9830574488 (Mr.
Pernendu Kanji) |
|
Fax No.: |
91-33-24071901 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
No. 13/2, |
|
Tel. No.: |
91-33-64546046 / 24071901 / 1902 |
|
Fax No.: |
91-33-24071901 / 1903 |
|
E-Mail : |
|
|
Area : |
1000 Square Feet |
|
Location : |
Rented |
|
|
|
DIRECTORS
As on: 30.09.2011
|
Name : |
Mr. Krishnendu Kanji |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
Sahara, Sahara Hat, 24 Paraganas, West Bengal, |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.04.1966 |
|||||||||||||||||||||||||||
|
Qualification : |
Graduate |
|||||||||||||||||||||||||||
|
Date of Appointment : |
07.06.1999 |
|||||||||||||||||||||||||||
|
DIN No : |
01322983 |
|||||||||||||||||||||||||||
|
Other Directorships :
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mr. Purnendu Kanji |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
|
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
29.08.1957 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
02.04.2007 |
|||||||||||||||||||||||||||
|
DIN No : |
01430111 |
|||||||||||||||||||||||||||
|
Other Directorships :
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Krishnendu Kanji |
|
2000 |
|
Purnendu Kanji |
|
1137900 |
|
Biswarup Haldar |
|
100 |
|
SPS Overseas Private Limited, Kolkata |
|
230000 |
|
|
|
|
|
Total |
|
1370000 |
As on: 30.09.2011
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
6.00 |
|
Directors or relatives of directors |
|
94.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and trader of Ball pen |
|
|
|
|
Products : |
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit (30 days / 60 days) |
|
|
|
|
Purchasing : |
Cash and Credit (30 days / 60 days) |
GENERAL INFORMATION
|
|
|
||||||||||||
|
Customers : |
Wholesalers, Retailers and End Users |
||||||||||||
|
|
|
||||||||||||
|
No. of Employees : |
110 (Approximately) |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Dharamtolla Branch, 5, CC Rs.4.000 Millions (Union Bank of
|
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
N. Chandra and Associates Chartered Accountant |
|
Address : |
P- 36, |
|
PAN No : |
ADAPA1809N |
|
|
|
CAPITAL STRUCTURE
As on: 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Share |
Rs.10/- each |
Rs.15.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1370000 |
Equity Share |
Rs.10/- each |
Rs.13.700 Millions |
|
|
|
|
|
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
13.700 |
13.600 |
13.600 |
|
|
2] Share Application Money |
0.500 |
5.500 |
0.000 |
|
|
3] Reserves & Surplus |
4.644 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
(2.748) |
(5.091) |
|
|
NETWORTH |
18.844 |
16.352 |
8.509 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2.338 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
2.338 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
21.182 |
16.352 |
8.509 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
11.049 |
8.030 |
7.394 |
|
|
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 |
7.064
|
1.828 |
0.030 |
|
|
Sundry Debtors |
2.932
|
0.381 |
0.115 |
|
|
Cash & Bank Balances |
0.200
|
3.312 |
0.616 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
2.753
|
3.660 |
1.155 |
|
Total
Current Assets |
12.949
|
9.181 |
1.916 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
1.801
|
0.225 |
0.070 |
|
|
Other Current Liabilities |
0.244
|
0.180 |
0.793 |
|
|
Provisions |
0.800
|
0.500 |
0.000 |
|
Total
Current Liabilities |
2.845
|
0.905 |
0.863 |
|
|
Net Current Assets |
10.104
|
8.276 |
1.053 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.029 |
0.046 |
0.062 |
|
|
|
|
|
|
|
|
TOTAL |
21.182 |
16.352 |
8.509 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
33.463 |
3.213 |
0.051 |
|
|
|
Other Income |
0.255 |
4.511 |
3.124 |
|
|
|
TOTAL (A) |
33.718 |
7.724 |
3.175 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase |
29.011 |
3.270 |
|
|
|
|
Direct Expenses |
4.011 |
1.916 |
|
|
|
|
Administration Expenses |
0.997 |
0.323 |
|
|
|
|
Selling and Distribution Expenses |
0.220 |
0.000 |
|
|
|
|
Preliminary Expenses w/off |
0.016 |
0.016 |
|
|
|
|
Increase/ Decrease in Stock |
(5.237) |
(1.798) |
|
|
|
|
TOTAL (B) |
29.018 |
3.727 |
2.071 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4.700 |
3.997 |
1.104 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.246 |
0.015 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4.454 |
3.981 |
1.104 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.662 |
1.138 |
1.104 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2.792 |
2.843 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.300 |
0.500 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2.492 |
2.343 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(2.748) |
(5.091) |
(5.091) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(0.225) |
(2.748) |
(5.091) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
1.82 |
1.72 |
(0.00) |
|
Expected sales (2011-12) Rs.40.000 Millions.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
7.39
|
30.33 |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.34
|
88.48 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.63
|
16.52 |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.17 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.27
|
0.05 |
0.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.55
|
10.14 |
2.22 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Construction
of the firm |
Yes |
|
Premises
details |
Yes |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
Yes |
|
Name
of Person Contacted |
Yes |
|
Designation
of contact person |
Yes |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last two years |
No |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
Yes |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
No |
|
Major
Suppliers |
No |
|
Major
Customers |
Yes |
|
Payment
Terms |
Yes |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U51109WB1999PTC089558 |
|
Name of the
company |
SARAJU AGRIWAYS
EXPORTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
235 / 2 A, A.J.S. Bose Road, 3rd Floor, Bhawanipur, Kolkata
– 700020, West Bengal, India E-Mail: aempj@rediffmail.com
|
|
This form is for |
Creation of charge |
|
Type of charge |
|
|
Particular of
charge holder |
Development
Credit Bank Limited 601 and 602, E-Mail: anirband@dcbbank.com
|
|
Nature of
instrument creating charge |
Deed of
Hypothecation |
|
Date of
instrument Creating the charge |
31.12.2011 |
|
Amount secured by
the charge |
Rs.13.385
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest The Borrower
shall pay interest Base Rate plus 3.25% i.e. 13.75% per annum (Present Base
Rate 10.50% ) of Terms of
repayments On Overdraft (
New ) :On Demand / Annual Review On Term Loan (New ) : On Demand/ Annual Review Repayable by way
of 60 Nos. of EMI of Rs.0.076 Million Margin As stipulated by
the Bank from time to time. Extent and
operation of the change By way of first
charge on all the Borrower's stock in
trade, finished goods, goods in process raw materials & book debts
etc. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation by way
of First charge on all the borrower's stock in trade, finished goods goods in process
raw materials and book debts, actionable claims, amounts due and receivable
under any contract, whether situated and stored at the Borrower's place /s of
business viz. residences, offices, shops,
go downs, factories or at any other place/s including bonded and other
warehouses, premises of the Borrower's lessees, tenants, franchisees, third
party processors, contractors, Sub-contractors,
fabricators, manufacturers, agents, transports etc. present and future. |
FIXED ASSETS
- Building (Factory)
- Machinery
- Furniture and Fixture
- Office Equipment
- Electric Installation
- Electric Equipment
- Motor Car
- Computer
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.51.28 |
|
|
1 |
Rs.81.38 |
|
Euro |
1 |
Rs.67.01 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
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.