MIRA
INFORM REPORT
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Report Date : |
10.02.2012 |
IDENTIFICATION DETAILS
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Name : |
VEDANT ENVIRO-AGRO AND IRRIGATION TECHNOLOGY PRIVATE LIMITED |
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Registered
Office : |
17, Anand Apartments, 88 Shivaji Nagar, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of Incorporation
: |
30.09.2004 |
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Com. Reg. No.: |
11-103174 |
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Capital
Investment / Paid-up Capital : |
Rs.0.175 million |
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CIN No.: [Company Identification
No.] |
U29299MH2004PTC103174 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
NGPV00611C / NGPV02662C |
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PAN No.: [Permanent Account No.] |
AAACV6644G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The company is engaged in the business of assembly of irrigation
systems and sale of spare parts required for irrigation systems on specific
order basis. |
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No. of Employees
: |
Information declined by the management
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RATING & COMMENTS
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MIRA’s Rating : |
B (36) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 27000 |
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Status : |
Small company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small company in its field. It’s scale of activities are limited.
Trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for small 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 DECLINED BY
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Name : |
Mr. Arun Tulsidas Bagri |
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Designation : |
Director |
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Contact No.: |
91-9823042260 / 91-712-2543741 |
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Date : |
10.02.2012 |
LOCATIONS
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Registered Office : |
17, Anand Apartments, 88 Shivaji Nagar, |
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Tel. No.: |
91-712-2540276 |
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Mobile No.: |
91-9823042260 (Mr. Arun Tulsidas Bagri) |
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Fax No.: |
Not Available |
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E-Mail : |
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Head Office/Factory : |
Opposite Andhra Bank, 1st Floor, |
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Tel. No.: |
91-712-2543741 / 2522368 |
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Fax No.: |
91-712-2543741 |
DIRECTORS
As on 30.09.2011
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Name : |
Mr. Arun Tulsidas Bagri |
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Designation : |
Director |
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Address : |
“Vedant” 7, Damodar Layout, Near Rajakothi, Civil Lines, |
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Date of Birth/Age : |
28.11.1951 |
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Date of Appointment : |
30.09.2004 |
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DIN No.: |
01577642 |
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Name : |
Mrs. Sarla Arun Bagri |
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Designation : |
Director |
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Address : |
“Vedant” 7, Damodar Layout, Near Rajakothi, Civil Lines, |
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Date of Birth/Age : |
15.02.1956 |
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Date of Appointment : |
30.09.2004 |
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DIN No.: |
01317978 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
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Names of Shareholders |
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No. of Shares |
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Arun Tulsidas Bagri |
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1000 |
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Sarla Arun Bagri |
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750 |
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Total |
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1750 |
As on 30.09.2011
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
|
100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
The company is engaged in the business of assembly of irrigation systems
and sale of spare parts required for irrigation systems on specific order
basis. |
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Product Description : |
Agricultural and Other Irrigation Systems |
GENERAL INFORMATION
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Suppliers : |
·
Dell India Private Limited ·
First Flight Courier (Surface) ·
Industrial Agencies, ·
Joy Industrial Fidders ·
Khare Agro-Mech Industries Limited ·
Reliance Digital Retail ·
Sofi Bags and Novelties |
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Customers : |
·
Asim Irrigation Private Limited, Malerkotla ·
Greater Ferro ·
Karaikal Port Private Limited, Chennai ·
Karkara Trading ·
Manoj Enterprises ( ·
Prashant Enterprises (Shah) Mumbai ·
Sardhi Power System, Visaka ·
Verma Agricultural and Industrial Corporation, |
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No. of Employees : |
Information declined by the management
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Bankers : |
·
Syndicate Bank ·
Union Bank of |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Bakre Pachkhede and Sagdeo Chartered Accountants |
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Address : |
3 and 4, Sai Sagar Apartments, Sai Sagar, |
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Tel. No.: |
91-712-2236686 / 2233929 / 6424046 |
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PAN No.: |
AACFB9328B |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000 |
Equity Shares |
Rs.100/- each |
Rs.0.500 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1750 |
Equity Shares |
Rs.100/- each |
Rs.0.175
million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.175 |
0.175 |
0.175 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
6.698 |
6.492 |
6.019 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
6.873 |
6.667 |
6.194 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
6.873 |
6.667 |
6.194 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.280 |
0.253 |
0.230 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
3.089 |
3.801 |
3.821 |
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DEFERREX TAX ASSETS |
0.004 |
0.003 |
0.008 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.462
|
0.370 |
0.297 |
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Sundry Debtors |
(0.157)
|
0.065 |
0.005 |
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Cash & Bank Balances |
1.572
|
2.799 |
3.784 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
4.452
|
1.190 |
1.351 |
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Total
Current Assets |
6.329
|
4.424 |
5.437 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
2.258 |
1.321 |
2.723 |
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Other Current Liabilities |
0.482
|
0.441 |
0.491 |
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Provisions |
0.089
|
0.052 |
0.088 |
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Total
Current Liabilities |
2.829
|
1.814 |
3.302 |
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Net Current Assets |
3.500
|
2.610 |
2.135 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
6.873 |
6.667 |
6.194 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
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5.127 |
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Other Income |
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TOTAL |
4.688 |
4.988 |
5.127 |
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EXPENSES |
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Office Expenses |
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4.404 |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
4.366 |
4.404 |
4.680 |
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PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.312 |
0.584 |
0.447 |
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DEPRECIATION/
AMORTISATION |
0.069 |
0.049 |
0.059 |
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PROFIT/(LOSS) BEFORE
TAX |
0.243 |
0.535 |
0.388 |
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TAX |
0.037 |
0.061 |
0.023 |
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PROFIT/(LOSS)
AFTER TAX |
0.206 |
0.474 |
0.365 |
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Earnings Per
Share (Rs.) |
117.71 |
270.86 |
208.57 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
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PAT / Total Income |
(%) |
4.39
|
9.50 |
7.12 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.68
|
11.44 |
6.85 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.08 |
0.06 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.41
|
0.27 |
0.53 |
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Current Ratio (Current Asset/Current Liability) |
|
2.24
|
2.44 |
1.65 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
|
Particulars |
As
on 31.03.2011 Rs.
in millions |
As
on 31.03.2010 Rs.
in millions |
As
on 31.03.2009 Rs.
in millions |
|
Anant Thorat |
0.000 |
(0.007) |
0.800 |
|
Arun Bagdi (MD) |
0.426 |
0.303 |
0.042 |
|
ATC Cleaning Private Limited, Mumbai |
0.000 |
0.000 |
0.001 |
|
Bakre Pachkhede and Sagdeo |
0.000 |
0.012 |
0.012 |
|
Dell India Private Limited |
0.000 |
0.000 |
0.000 |
|
First Flight Courier (Surface) |
0.000 |
0.005 |
0.001 |
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Industrial Agencies, |
0.000 |
0.006 |
0.000 |
|
Joy Industrial Fidders |
0.000 |
(0.017) |
0.008 |
|
Khare Agro-Mech Industries Limited |
0.000 |
0.005 |
0.000 |
|
Overnight Courier A/c |
0.000 |
0.001 |
0.000 |
|
Reliance Digital Retail |
0.030 |
0.000 |
0.000 |
|
R. A. Enterprises Hingna A/c |
0.000 |
(0.004) |
0.000 |
|
Sarla Bagdi (Director) |
0.279 |
0.163 |
0.358 |
|
Sofi Bags and Novelties |
0.004 |
0.000 |
0.010 |
|
S I M E srl, |
1.519 |
0.854 |
1.491 |
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Total
|
2.258 |
1.321 |
2.723 |
PERFORMANCE
During the year
the Company was engaged in business of assemble of irrigation systems and sale
of spare parts required for irrigation systems on specific order basis. The performance
of the company during the year is dismal. The income from sale of irrigation
systems has come down from Rs.4.988 millions to Rs.4.688 millions mainly due to
reduction in Sales carried out by the company as well as profit down during the
year. The Company expects better performance during the year.
FIXED ASSETS
·
Furniture and Fixture
·
Air Conditioner
·
Vehicle
·
Office Equipment
·
Computer
·
Farm Equipment
·
Solar Equipment
·
Mobile Nokia
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.49.29 |
|
|
1 |
Rs.78.10 |
|
Euro |
1 |
Rs.65.59 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
36 |
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.