MIRA INFORM REPORT
|
Report Date : |
18.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
AGRIGUARD LIMITED |
|
|
|
|
Formerly Known As : |
AGRITECH CHEMICAL LIMITED |
|
|
|
|
Registered Office : |
SUITE 26, NORTHWOOD HOUSE, SANTRY 462810 |
|
|
|
|
Country : |
Ireland |
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
21.12.1996 |
|
|
|
|
Com. Reg. No.: |
IE258630 |
|
|
|
|
Legal Form : |
Limited Cimpany |
|
|
|
|
Line of Business : |
The research, development and manufacture of pesticides
and plant growth regulators. |
|
|
|
|
No. of Employees : |
8
Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet
normal commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
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 – June 30th,
2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Ireland |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
IRELAND
- ECONOMIC OVERVIEW
Ireland is a small, modern, trade-dependent economy. Ireland
was among the initial group of 12 EU nations that began circulating the euro on
1 January 2002. GDP growth averaged 6% in 1995-2007, but economic activity has
dropped sharply since the onset of the world financial crisis, with GDP falling
by over 3% in 2008, nearly 7% in 2009, and less than 1% in 2010. Ireland
entered into a recession in 2008 for the first time in more than a decade, with
the subsequent collapse of its domestic property and construction markets.
Property prices rose more rapidly in Ireland in the decade up to 2007 than in
any other developed economy. Since their 2007 peak, average house prices have
fallen 47%. In the wake of the collapse of the construction sector and the
downturn in consumer spending and business investment, the export sector,
dominated by foreign multinationals, has become a key component of Ireland's
economy. Agriculture, once the most important sector, is now dwarfed by
industry and services. In 2008 the COWEN government moved to guarantee all bank
deposits, recapitalize the banking system, and establish partly-public venture
capital funds in response to the country's economic downturn. In 2009, in
continued efforts to stabilize the banking sector, the Irish Government
established the National Asset Management Agency (NAMA) to acquire problem
commercial property and development loans from Irish banks. Faced with sharply
reduced revenues and a burgeoning budget deficit, the Irish Government
introduced the first in a series of draconian budgets in 2009. In addition to
across-the-board cuts in spending, the 2009 budget included wage reductions for
all public servants. These measures were not sufficient. In 2010, the budget
deficit reached 32.4% of GDP - the world's largest deficit, as a percentage of
GDP - because of additional government support for the banking sector. In late
2010, the former COWEN Government agreed to a $112 billion loan package from
the EU and IMF to help Dublin further increase the capitalization of its
banking sector and avoid defaulting on its sovereign debt. Since entering
office in March 2011, the KENNY government has intensified austerity measures
to try to meet the deficit targets under Ireland's EU-IMF program. Ireland
achieved moderate growth in 2011 and cut the budget deficit to 10.1% of GDP,
although the recovery is expected to slow in 2012 as a result of the euro-zone
debt crisis.
|
Source : CIA |
REGISTERED NAME & COMPANY SUMMARY
|
Company
Name |
AGRIGUARD LIMITED |
Company
Number |
IE258630 |
|
|
|
|
|
|
Registered
Address |
SUITE 26 |
|
|
|
|
NORTHWOOD HOUSE |
|
|
|
|
SANTRY |
|
|
|
|
462810 |
|
|
|
Website
Address |
- |
|
|
|
Telephone
Number |
|
Fax
Number |
|
|
TPS |
No |
FPS |
No |
|
Incorporation
Date |
21/12/1996 |
Company
Status |
Active - Accounts Filed |
|
Previous
Name |
AGRITECH CHEMICAL LIMITED |
Type |
Other |
|
Date
of Change |
- |
Filing
Date of Accounts |
- |
|
|
|
Share
Capital |
€681 |
|
SIC03
|
24200 |
Currency
|
EUR |
|
SIC03
Description |
Manufacture of pesticides and other agro-chemical products
|
||
|
SIC07
|
20200 |
||
|
SIC07
Description |
MANUFACTURE OF PESTICIDES AND OTHER AGROCHEMICAL PRODUCTS |
||
|
Principal
Activity |
The research, development and manufacture of pesticides
and plant growth regulators. |
||
DIRECTORS/MANAGEMENT
|
Total Current Directors |
5 |
|
Total Current Secretaries |
1 |
|
Total Previous Directors / Company Secretaries |
15 |
Current Directors
|
Name |
Date
of Birth |
13/06/1958 |
|
|
Officers
Title |
|
Nationality |
|
|
Present
Appointments |
6 |
Function |
Director |
|
Appointment
Date |
18/07/2011 |
|
|
|
Address |
RUE AU BOIS 376, 1150 WOLUWE-SAINT-PIERRE, BRUSSELS,
BELGIUM |
||
|
|
|
|
|
|
Name |
Date
of Birth |
26/03/1958 |
|
|
Officers
Title |
|
Nationality |
|
|
Present
Appointments |
3 |
Function |
Director |
|
Appointment
Date |
01/09/2011 |
|
|
|
Address |
AV.J.BRELLAAN 40, 1200 WOLUWE, BRUSSELS, BELGIUM |
||
|
|
|
|
|
|
Name |
Date
of Birth |
01/06/1970 |
|
|
Officers
Title |
|
Nationality |
|
|
Present
Appointments |
3 |
Function |
Director |
|
Appointment
Date |
01/04/2011 |
|
|
|
Address |
RUE THEODORE DE CUYPER 90, 1200 WOLUWE- ST- LAMBERT,
BRUSSELS, BELGIUM |
||
|
|
|
|
|
|
Name |
Date
of Birth |
04/04/1952 |
|
|
Officers
Title |
|
Nationality |
|
|
Present
Appointments |
1 |
Function |
Director |
|
Appointment
Date |
01/09/2011 |
|
|
|
Address |
6 THE RIDINGS, TONTEG PONTYPRIDD, MID GLAMORGAN, WALES |
||
|
|
|
|
|
|
Name |
Date
of Birth |
20/03/1972 |
|
|
Officers
Title |
|
Nationality |
|
|
Present
Appointments |
1 |
Function |
Director |
|
Appointment
Date |
15/12/2011 |
|
|
|
Address |
1-2-28 KOMAZAWA, SETAGAYA-KU, TOKYO, JAPAN |
||
|
|
|
|
|
Current Company Secretary
|
Name |
Date
of Birth |
13/06/1958 |
|
|
Officers
Title |
|
Nationality |
|
|
Present
Appointments |
6 |
Function |
Company Secretary |
|
Appointment
Date |
16/03/2012 |
|
|
|
Address |
RUE AU BOIS 376, 1150 WOLUWE-SAINT-PIERRE, BRUSSELS,
BELGIUM |
||
Previous Director/Company
Secretaries
|
Name |
Current
Directorships |
Previous
Directorships |
|
4 |
4 |
|
|
0 |
1 |
|
|
2 |
1 |
|
|
6 |
13 |
|
|
6 |
13 |
|
|
4 |
4 |
|
|
1 |
2 |
|
|
1 |
2 |
|
|
1 |
2 |
|
|
0 |
3 |
|
|
0 |
6 |
|
|
0 |
6 |
|
|
2 |
3 |
|
|
2 |
3 |
|
|
0 |
2 |
NEGATIVE
INFORMATION
CJ
|
Total
Number of Exact CJs - |
Total
Value of Exact CJs - |
||
|
Total
Number of Possible CJs - |
Total
Value of Possible CJs - |
||
|
Total
Number of Satisfied CJs - |
Total
Value of Satisfied CJs - |
Exact
CJ Details
There are no exact CJ details
Possible
CJ Details
There are no possible CJ details
Writ
Details
Mortgage
Summary
|
Outstanding |
2 |
|
Satisfied |
0 |
Mortgage
Details
|
Mortgage
Type: |
A charge on book debts of the
company. |
|
Date
Charge Created: |
20/06/08 |
|
Date
Charge Registered: |
01/07/08 |
|
Date
Charge Satisfied: |
- |
|
Status: |
NOT SATISFIED |
|
Person(s)
Entitled: |
THE GOVERNOR & CO OF THE
BANK OF IRELAND |
|
Amount
Secured: |
|
|
Details: |
|
|
Mortgage
Type: |
A charge on uncalled share
capital of the company. A charge on land, wherever situate, or any intere |
|
Date
Charge Created: |
04/02/02 |
|
Date
Charge Registered: |
12/02/02 |
|
Date
Charge Satisfied: |
- |
|
Status: |
NOT SATISFIED |
|
Person(s)
Entitled: |
THE GOVERNOR AND COMPANY OF
THE BANK OF IRELAND |
|
Amount
Secured: |
|
|
Details: |
|
SHARE & SHARE CAPITAL INFORMATION
Top 20 Shareholders
|
Name |
Individual
Share Value |
|
AGRIGUARD HOLDINGS LTD |
536 ORDINARY EUR 1.27 |
|
Share
Capital |
€681 |
PAYMENT INFORMATION
Payment Information Summary
|
Days Beyond Terms |
Trend Indicator |
Average
Payment Experience |
|
||||
|
Steady Improving Worsening |
Be the first to leave a payment experience
|
|
GROUP STRUCTURE & AFFILIATED COMPANIES
Statistics
|
Group
|
2 companies |
|
Linkages
|
|
|
Countries
|
Summary
|
Holding
Company |
AGRIGUARD HOLDINGS LIMITED |
|
Ownership
Status |
Intermediately Owned |
|
Ultimate
Holding Company |
AGRIGUARD HOLDINGS LIMITED |
Group structure
|
Company
Name |
|
Registered
Number |
Latest
Key Financials |
Consol.
Accounts |
Turnover |
|
AGRIGUARD
HOLDINGS LIMITED |
|
IE290912 |
31.03.2011 |
N |
- |
|
AGRIGUARD
LIMITED |
|
IE258630 |
31.03.2012 |
N |
- |
FINANCIAL INFORMATION
Key Financials
|
Year
to Date |
Turnover |
Pre
Tax Profit |
Shareholder
Funds |
Employees |
|
31/03/2011 |
€24,686,733 |
€1,720,857 |
€6,667,334 |
8 |
|
31/12/2009 |
€18,548,433 |
€2,181,272 |
€5,009,609 |
8 |
|
31/12/2008 |
- |
€1,164,061 |
€2,295,876 |
8 |
Profit & Loss
Balance Sheet |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Capital & Reserves
|
|
Date Of Accounts |
31/03/11 |
|
31/12/09 |
|
31/12/08 |
|
31/12/07 |
|
31/12/06 |
|
|
Called Up Share Capital |
€680 |
|
€680 |
|
€680 |
|
€680 |
|
€680 |
|
|
P & L Account Reserve |
€6,286,012 |
|
€4,628,287 |
|
€2,231,963 |
|
€4,731,305 |
|
€3,513,064 |
|
|
Revaluation Reserve |
- |
|
- |
|
- |
|
- |
|
- |
|
|
Sundry Reserves |
€380,642 |
|
€380,642 |
|
€63,233 |
|
€63,233 |
|
€63,233 |
|
|
Shareholder Funds |
€6,667,334 |
|
€5,009,609 |
|
€2,295,876 |
|
€4,795,218 |
|
€3,576,977 |
Other Financial Items
|
|
Date Of Accounts |
31/03/11 |
|
31/12/09 |
|
31/12/08 |
|
31/12/07 |
|
31/12/06 |
|
|
Net Worth |
€6,667,334 |
|
€5,009,609 |
|
€2,295,876 |
|
€4,795,218 |
|
€3,576,977 |
|
|
Working Capital |
€6,608,571 |
|
€5,397,602 |
|
€3,827,943 |
|
€5,081,337 |
|
€3,865,546 |
|
|
Total Assets |
€14,925,319 |
|
€12,830,051 |
|
€8,089,655 |
|
€11,314,067 |
|
€8,809,250 |
|
|
Total Liabilities |
€8,257,985 |
|
€7,820,442 |
|
€5,793,779 |
|
€6,518,849 |
|
€5,232,273 |
|
|
Net Assets |
€6,667,334 |
|
€5,009,609 |
|
€2,295,876 |
|
€4,795,218 |
|
€3,576,977 |
Cash Flow
|
|
Date Of Accounts |
31/03/11 |
|
31/12/09 |
|
31/12/08 |
|
31/12/07 |
|
31/12/06 |
|
|
Net Cashflow from Operations |
- |
|
-€669,024 |
|
€3,573,354 |
|
€42,844 |
|
€1,693,291 |
|
|
Net Cashflow before Financing |
- |
|
-€598,341 |
|
-€133,332 |
|
-€271,556 |
|
€1,406,874 |
|
|
Net Cashflow from Financing |
- |
|
- |
|
- |
|
- |
|
- |
|
|
Increase in Cash |
- |
|
-€598,341 |
|
-€133,332 |
|
-€271,556 |
|
€1,406,874 |
Miscellaneous
|
|
Date Of Accounts |
31/03/11 |
|
31/12/09 |
|
31/12/08 |
|
31/12/07 |
|
31/12/06 |
|
|
Contingent Liability |
YES |
|
YES |
|
NO |
|
YES |
|
NO |
|
|
Capital Employed |
€6,667,334 |
|
€5,447,684 |
|
€3,871,920 |
|
€5,112,627 |
|
€3,894,386 |
Ratios
|
|
Date Of Accounts |
31/03/11 |
31/12/09 |
31/12/08 |
31/12/07 |
31/12/06 |
|
|
Pre-tax profit margin % |
6.97 |
11.76 |
- |
- |
- |
|
|
Current ratio |
1.80 |
1.73 |
1.91 |
1.82 |
1.79 |
|
|
Sales/Net Working Capital |
3.74 |
3.44 |
- |
- |
- |
|
|
Gearing % |
0 |
86.20 |
136.10 |
65.50 |
68.50 |
|
|
Equity in % |
44.70 |
39 |
28.40 |
42.40 |
40.60 |
|
|
Creditor Days |
65.38 |
35.13 |
- |
- |
- |
|
|
Debtor Days |
145.70 |
108.24 |
- |
- |
- |
|
|
Liquidity/Acid Test |
1.15 |
1.09 |
1.14 |
1.18 |
1.03 |
|
|
Return On Capital Employed % |
25.81 |
40.04 |
30.06 |
27.40 |
38.83 |
|
|
Return On Total Assets Employed % |
11.52 |
17 |
14.38 |
12.38 |
17.16 |
|
|
Current Debt Ratio |
1.23 |
1.47 |
1.83 |
1.29 |
1.37 |
|
|
Total Debt Ratio |
1.23 |
1.56 |
2.52 |
1.35 |
1.46 |
|
|
Stock Turnover Ratio % |
21.62 |
25.26 |
- |
- |
- |
|
|
Return on Net Assets Employed % |
25.81 |
43.54 |
50.70 |
29.21 |
42.27 |
ADDITIONAL INFORMATION
|
|
Number of Employees |
8 |
|
8 |
|
8 |
|
7 |
|
7 |
|
|
Auditors |
DELOITTE & TOUCHE |
||||||||
|
|
Auditor Comments |
The audit report contains no adverse comments |
||||||||
|
|
Bankers |
BANK OF IRELAND |
||||||||
|
|
Bank Branch Code |
90-05-78 |
||||||||
Status History
|
No Status History found |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.54.62 |
|
UK Pound |
1 |
Rs.88.40 |
|
Euro |
1 |
Rs.71.85 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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 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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.