MIRA INFORM REPORT

 

 

Report Date :

13.02.2012

 

IDENTIFICATION DETAILS

 

Name :

KRIBHCO-KRISHAK BHARATI COOPERATIVE LIMITED

 

 

Registered Office :

Red Rose House, 49-50, Nehru Place, New Delhi-110019

 

 

Country :

India

 

 

Financials (as on) :

31.03.2011

 

 

Year of Establishment  :

1981

 

 

Capital Investment / Paid-up Capital :

Rs.3902.345 Millions

 

 

Legal Form :

Co-Operative Society

 

 

Line of Business :

Manufacturer of Urea, Ammonia and Bio Fertilizers.

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A (59)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

USD 110000000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well established and reputed society having fine track. Financial position is good. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments.

 

The society can be considered normal for 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.

 

 

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

 

 

LOCATIONS

 

Registered Office :

Red Rose House, 49-50, Nehru Place, New Delhi-110019, India

Tel No.:

91-11-26213412

Fax No.:

Not Available

E-Mail :

webmaster@kribco.net

Website :

http://www.kribhco.net

 

 

Corporate Office :

Kribhco Bhawah, A8-10, Sector 1, District Gautam Budh Nagar,  Noida-201301, Uttar Pradesh, India

Tel No.:

91-120-2534631/32/36

91-120-2549112/13/14

Fax No.:

91-120-2537113/2534861

 

 

Factory 1 :

P.O. Kribhco Nagar, District Surat-394515, Gujarat, India

Tel. No.:

91-261-2802489

Fax No.:

91-261-2802010/ 2860552

 

 

Factory 2 :

Himmat Nagar Unit

 

C/O Sabar Godown Complex, Near Shakari Gin Char Rasta, Shamlalji National Highway-8, Himmatnagar, Gujarat, India

 

 

Factory 3:

Hissar Unit

 

Lakhi Ram Steel Private Limited, 7th KM Stone, Barwal A Road, Hissar, Haryana, India

 

 

Factory 4 :

Dewas Unit

 

Balgarh Dewas Office, 16 Ram Nagar, Balgarh, Dewas, Madhya Pradesh, India

 

 

Factory 5 :

Abohar Unit

 

V and PO: Killian Wali, Killian Wali Road, District- Ferozepur, Punjab,  India

 

 

Factory  6:

Kota Unit

 

Kota Kray- Vikray Sahakari Samiti, Dal Mill Parisar, Plot No. 19-B, Road No. 2 Indraprastha Industrial Area, Jhalwar Road Kota, Rajasthan, India

 

 

Factory  7:

Aligarh Unit

 

C/O PCF G.T. Road, Dhanipur Mandi, Aligarh, Uttar Pradesh, India

 

 

Factory 8 :

Jangipur Unit

 

C/O PCF, Krishi Utpadan Mandi Samiti Parishar, Jangirpur, District- Ghazipur, Uttar Pradesh, India

 

 

Factory 9 :

Moth Unit

 

C/O PCF, Station Road, Moth District- Jhans, Uttar Pradesh, India

 

 

Factory 10 :

Shahjahanpur Unit

 

Shahjahanpur Seed Unit, Villae Chaudara- PCF, P.O. Rausar Kothi, Hardoi Road, Shahjahanpur, Uttar Pradesh, India

 

 

Factory 11 :

Gajraula Unit

 

C/O SWC Godown No. 9 Insilco Road Near Telephone Exchange Gajrola J. P. Nagar, Uttar Pradesh, India

 

 

Seva Kendra:

 Located At:

 

  • Haryana
    • Kurukeshtra
    • Ismailabad
    • Indri
    • Gharaunda
    • Jangadhari
    • Hodal
    • Palwal
    • Gohana
    • Rewari
    • ADampur
    • Meham
    • Fatehbad
    • Sirsa
  • Punjab
    • Hoshiarpur
    • S P. Lodhi
    • Banga
    • Amritsar
    • Mullanpur Dakha
    • Moga
    • Samana
    • Sangrur
    • Bhatinda
    • Kotkapura
    • Abohar
  • Uttar Pradesh
    • Hapur
    • Gulauthi
    • Jhangirabad
    • Bulandshhr
    • Syana
    • Shahpur
    • Bhopa
    • Rampur Maniharan
    • Joya
    • Kanth
    • Pagamberpur
    • Bilari
    • Sambhal
    • Thane Mainathore
    • Mathura
    • Aligarh
    • Jalesar
    • Etah
    • Bewar
    • Mainpuri
    • Raya
    • Shikohabad
    • Pardam
    • Sasni
    • Sikandra Raoo
    • Ramkot
    • Puranpur
    • Lakhimpur Kheri
    • Gola Gokarnath
    • Mohmmadi
    • Chakiya
    • Jaswant Nagar
    • Deoria
    • Bhatpar Rani
    • Kaptanganj
    • Farenda

 

 

DIRECTORS

 

As on 31.03.2011

 

Name :

Mr. Vaghjibhai Rugnathbhai Patel

Designation :

Director

 

 

Name :

Mr. Chandra Pal Singh

Designation :

Chairman Cum Managing Director 

 

 

Name :

Mr. B D Sinha

Designation :

Managing Director

 

 

Name :

Mr. V Sudhakar Chowdhary

Designation :

Director

 

 

Name :

Mr. Deepak Singhal

Designation :

Director

 

 

Name :

Mr. S S Jaggia

Designation :

Operations Director

 

 

Name :

Mr. Ponnam Prabhakar

Designation :

Director

 

 

Name :

Mr. R K Kamra

Designation :

Finance Director

 

 

Name :

Mr. N Sambasiva Rao

Designation :

Marketing Director

 

 

Name :

Dr. Bijender Singh

Designation :

Director

 

 

Name :

Dr. Sunil Kumar Singh

Designation :

Director

 

 

Name :

Mrs. Shailajadevi D. Nikam

Designation :

Director

 

 

Name :

Mr. Pareshbhai R. Patel

Designation :

Director

 

 

Name :

Mr. Bhanwar Singh Shekhawat

Designation :

Director

 

 

Name :

Dr. V. Rajagopalan

Designation :

Director

 

 

Name :

Mr. Bhikhajibhai Zaberbhai Patel

Designation :

Director

 

 

Name :

Mr. C. P. Singh

Designation :

Executive Director

 

 

Name :

Mr. Amar Prasad

Designation :

Executive Director

 

 

Name :

Mr. P.R. Dubhashi

Designation :

Ex-Chairman

 

 

Name :

Mr. P.S. Kohil

Designation :

Ex-Chairman

 

 

Name :

Mr. Udai Bhan

Designation :

Ex-Chairman

 

 

Name :

Mr. K. Shrinivasa Gowda

Designation :

Ex-Chairman

 

 

Name :

Mr. A.K. Mukhopadhyay

Designation :

Ex-Managing Director

 

 

Name :

Mr. S. Kabilan

Designation :

Ex-Managing Director

 

 

Name :

Mr. P.P. Singh

Designation :

Ex-Managing Director

 

 

Name :

Mr. V.N. Rai

Designation :

Ex-Managing Director

 

 

KEY EXECUTIVES

 

Name :

Mr. A K Gupta

Designation :

Chief Vigilance Officer

 

 

Name :

Mr. C P Singh

Designation :

Chief General Manager (Project)

 

 

Name :

Mr. B Prasad

Designation :

General Manager

 

 

Name :

Mr. Mr. S Jaggia

Designation :

General Manager (Tech.)

 

 

Name :

Mr. S K Garg

Designation :

General Manager (F and A)

 

 

Name :

Mr. V K. Swaminathan

Designation :

General Manager (F and A)

 

 

Name :

Mr. D P Singh

Designation :

General Manager (Marketing)

 

 

Name :

Mr. G S Katarya

Designation :

General Manager (Marketing )

 

 

Name :

Mr. P K  Songi

Designation :

General Manager (Tech)

 

 

Name :

Mr.  D B Shah

Designation :

General Manager

 

 

Name :

Mr. C G Sathe

Designation :

General Manager (Project)

 

 

Name :

Mr. M K Shah

Designation :

Genearl Manager

 

 

Name :

Mr. Y J Fanse

Designation :

Genearl Manager ( HR)

 

 

Name :

Mr. J K Mathur

Designation :

General Manager (F and A)

 

 

Name :

Mr. V K Kedia

Designation :

Additional General Manager (F and A)

 

 

Name :

Mr. B M Desai

Designation :

Additional General Manager (Tech)

 

 

Name :

Mr. H P Katara

Designation :

Additional General Manager (Project)

 

 

Name :

Mr. A S Awwal

Designation :

Additional General Manager (proj)

 

 

Name :

Mr. S B Mehta

Designation :

Additional General Manager (Mech.)

 

 

Name :

Mr. A K Gupta

Designation :

Additional General Manager (F and S)

 

 

Name :

Mr. B H Soni

Designation :

Additional General Manager (proj.)

 

 

Name :

Mr. S U Chaudhari

Designation :

Additional General Manager

 

 

Name :

Mr. M D Thakur

Designation :

Additional General Manager (CM)

 

 

Name :

Mr. M Paliwar

Designation :

Additional General Manager (MS)

 

 

Name :

Mr. R M Chopda

Designation :

Additional General Manager (Proj.)

 

 

Name :

Mr. A A Shah

Designation :

Additional General Manager (F and A)

 

 

Name :

Mr. P K Mathew

Designation :

Additional General Manager (F and A)

 

 

EXECUTIVES

 

 

 

Name :

Mr. Deepak Kushwsaha

Designation :

Deputy General Manager (MIS)

 

 

Name :

Mr. Anand Padalla

Designation :

Deputy General Manager (HR)

 

 

Name :

Mr. Manoj Mishra

Designation :

Deputy General Manager (F and A)

 

 

Name :

Mr. G P Rao

Designation :

Deputy General Manager (F and A)

 

 

Name :

Mr. G S Pearlon

Designation :

Deputy General Manager (F and A)

 

 

Name :

Mr. Virendra Singh

Designation :

Deputy General Manager (Mis)

 

 

Name :

Mr. D K Dargan

Designation :

Deputy General Manager (F and A)

 

 

Name :

Mr. M G Bansal

Designation :

Deputy General Manager (F and A)

 

 

HAZIRA COMPLEX

 

 

 

Name :

Mr. Jasbir Singh

Designation :

Deputy General Manager (Vig)

 

 

Name :

Mr. R M Shah

Designation :

Deputy General Manager (Civil)

 

 

Name :

Mr.  A K Nayak

Designation :

Deputy General Manager (Mech.)

 

 

Name :

Mr. J P Verma

Designation :

Deputy General Manager (Proj.)

 

 

Name :

Mr. J J Dalwadi

Designation :

Deputy General Manager (Inst.)

 

 

Name :

Mr. U C Sharma

Designation :

Deputy General Manager (Maint)

 

 

Name :

Mr. S R Poundarik

Designation :

Chief Medical Officer

 

 

Name :

Mr. H B Trivedi

Designation :

Deputy General Manager (Elect.)

 

 

Name :

Mr. S Banarjee

Designation :

Deputy General Manager (prod.)

 

 

Name :

Mr. C J Shah

Designation :

Deputy General Manager (Inst.)

 

 

Name :

Mr. Kuldeep Singh

Designation :

Deputy General Manager (Prodn)

 

 

Name :

Mr. M C Diwan

Designation :

Deputy General Manager (Prodn.)

 

 

Name :

Mr. S B. Moogi

Designation :

Deputy General Manager (Prod.)

 

 

Name :

Mr. K Srihari

Designation :

Deputy General Manager (Mech.)

 

 

Name :

Mr. P S Gandhi

Designation :

Deputy General Manager (Inst.)

 

 

Name :

Mr. J P Patel

Designation :

Deputy General Manager (Mech.)

 

 

Name :

Mr. A S Singh

Designation :

Deputy General Manager (Proj.)

 

 

Name :

Mr. R L Shukla

Designation :

Deputy General Manager (Proj.)

 

 

Name :

Mr. R K Tiwari

Designation :

Deputy General Manager (Mech.)

 

 

Name :

Mr. Raveen Nagi

Designation :

Deputy General Manager (MS)

 

 

Name :

Mr. B Mitra

Designation :

Deputy General Manager (Proj)

 

 

Name :

Mr. B R Patel

Designation :

Deputy General Manager (Inst.)

 

 

Name :

Mr. D K Mandal

Designation :

Deputy General Manager (Tech.)

 

 

Name :

Mr.  V K Singh

Designation :

Deputy General Manager (Mech)

 

 

Name :

Mr. M R Arora

Designation :

Deputy General Manager (Mtl)

 

 

Name :

Mr. M. R. Sharma

Designation :

Deputy General Manager (Proj)

 

 

Name :

Mr. V Sathyanesan

Designation :

Deputy General Manager (Mifs)

 

 

Name :

Mr. L A Khan

Designation :

Deputy General Manager (Tech.)

 

 

Name :

Mr. G Srinavas

Designation :

Deputy General Manager (Mech.)

 

 

Name :

Mr. A D Bhatta

Designation :

Deputy General Manager (HR)

 

 

Name :

Mr. S S Roy

Designation :

Deputy General Manager (Mech.)

 

 

Name :

Mr. K Jayrajan

Designation :

Deputy General Manager (Prod)

 

 

Name :

Mr. S S Johar

Designation :

Deputy General Manager (Prod)

 

 

Name :

Mr. N K Jurjar

Designation :

Deputy General Manager (Mech.)

 

 

Name :

Mr. A B De

Designation :

Deputy General Manager (Prodn.)

 

 

Name :

Mr. K M Patel

Designation :

Deputy General Manager (Mech.)

 

 

Name :

Mr. S R Ahmed

Designation :

Deputy General Manager (prod)

 

 

Name :

Mr. S L Pandya

Designation :

Deputy General Manager (Mech.)

 

 

Name :

Mr. C Venkateswarulu

Designation :

Deputy General Manager (Elect.)

 

 

Name :

Mr. V K Sareen

Designation :

Deputy General Manager (Mits)

 

 

Name :

Mr. B M Rao

Designation :

Deputy General Manager (Prod)

 

 

Name :

Mr. Rishipal Singh

Designation :

Deputy General Manager (Elect.)

 

 

MARKETING DIVISION

 

 

 

Name :

Mr. L N Kapadia

Designation :

Deputy Genearl Magare (Vig)

 

 

Name :

Mr. R K Jain

Designation :

Deputy General Manager (Mktg.)

 

 

Name :

Mr. S S Khare

Designation :

Deputy General Manager (Mktg)

 

 

Name :

Mr. J S Sandhu

Designation :

Deputy General Manager (Mktg)

 

 

Name :

Mr. R K Bansal

Designation :

Deputy General Manager (F and A)

 

 

Name :

Mr. J. B. Gangwar

Designation :

Deputy General Manager (Mktg)

 

 

Name :

Mr. S Maheshwari

Designation :

Deputy General Manager (Mktg.)

 

 

Name :

Mr. M S Rathore

Designation :

Deputy General Manager (Mktg)

 

 

Name :

Mr. A K Gupta

Designation :

Deputy General Manager (F and A)

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

Not Available

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Urea, Ammonia and Bio Fertilizers.

 

 

PRODUCTION STATUS [AS ON 31.03.2011]

 

Particulars

Unit

Licensed Capacity

Installed Capacity

Actual Production

Ammonia

In Lakh MT

10.03

10.03

11.58

Urea

In Lakh MT

17.29

17.29

18.41

Argon

In Lakh MT

00.12

00.12

0.105

Bio-Fertilizers

In Lakh MT

0.007

0.007

0.0096

 

 

GENERAL INFORMATION

 

Bankers :

·         ICICI Bank Limited

·         Indian Overseas Bank

·         Axis Bank

·         HDFC Bank Limited

·         State Bank of India

·         State Bank of Patiala

 

 

Facilities :

Secured Loan

As on 31.03.2011

[Rs. in Millions]

As on 31.03.2010

[Rs. in Millions]

Term Loans- From Banks

 

 

Rupee Loan

(Due for repayment within one year Rs.0.023 million, Previous Year Rs.0.019 million)

[Loan of Rs.300.000 millions (Previous Year Nil) is secured by way of pari-passu charge on the existing fixed assets of the Society at its Hazira Plant as well as the assets created due to revamp-cum expansion of the Hazira Plant and balance of Rs.2.260 millions (Previous Year Rs.2.281 millions) against pledge of Fixed Deposit Receipt of Rs.2.700 millions (Previous year Rs.2.700 millions)]

302.260

2.281

Total

302.260

2.281

 

 

 

Unsecured Loan

 

 

Short Term Loans from Banks

 

 

- Rupee Loans

2097.790

0.000

- Foreign Currency Loans

544.143

0.000

Total

2641.933

0.000

 

 

 

Banking Relations :

--

 

 

Joint Statutory Auditors 1 :

 

Name :

S.K. Mehta and Company

Chartered Accountants

Address :

2682/2, Beadon Pura, Ajmal Khan Market, Karol Bagh, New Delhi-110005, India

 

 

Joint Statutory Auditors 2 :

 

Name :

G.K. Choksi and Company

Chartered Accountants

Address :

Madhuban, Near Madalpur, Underbridge, Ellisbridge, Ahmedabad-380006, Gujarat, India

 

 

Joint Statutory Auditors 3 :

 

Name :

 G. S. Mathur and Company

Chartered Accountants

Address :

A-160, Defence Colony, New Delhi-110024, India

 

 

Associates :

Gramin Vikas Trust (GVT)

 

 

Subsidiaries :

·         KRIBHCO Shyam Fertilizers Limited (KSFL)

·         KRIBHCO Infrastructure Limited (KRIL)

 

·          

Joint Ventures :

·         OmanIndia Fertilizer Company SAOC(OMIFCO)

·         Urvarak Videsh Limited (UVL)

·         Gujarat State Energy Generation Limited (GSEG)

 

 

CAPITAL STRUCTURE

 

As on 31.03.2011

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

44000

Equity Shares

Rs.100000/- each

Rs.4400.000 Millions

16000

Equity Shares

Rs.25000/- each

Rs.400.000 Millions

20000

Equity Shares

Rs.10000/- each

Rs.200.000 Millions

 

Total

 

Rs.5000.000 Millions

 

Issued, Subscribed Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

33617

Equity Shares

Rs.100000/- each

Rs.3361.700 Millions

15610

Equity Shares

Rs.25000/- each

Rs.390.250 Millions

15913

Equity Shares

Rs.10000/- each

Rs.159.130 Millions

 

Total

 

Rs.3911.080 Millions

 

 

Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

33617

Equity Shares

Rs.100000/- each

Rs.3361.700 Millions

15610

Equity Shares

Rs.25000/- each

Rs.390.250 Millions

15913

Equity Shares

(Out of above, 18890 Equity Shares of Rs. 100000 each are held by Government of India)

Rs.10000/- each

Rs.159.130 Millions

Less:

Repatriation  of Share Capital

 

Rs.9.273 Millions

Add:

Forfeited Shares

 

Rs.0.538 Million

 

Total

 

Rs.3902.345 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

3902.345

3906.658

3907.333

2] Share Application Money

0.000

0.000

0.100

3] Reserves & Surplus

24353.244

23064.626

21586.739

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

28255.589

26971.284

25494.172

LOAN FUNDS

 

 

 

1] Secured Loans

302.260

2.281

2.300

2] Unsecured Loans

2641.933

0.000

919.100

TOTAL BORROWING

2944.193

2.281

921.400

DEFERRED TAX LIABILITIES

225.000

166.331

50.289

 

 

 

 

TOTAL

31424.782

27139.896

26465.861

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

4407.317

3938.691

3594.360

Capital work-in-progress

7458.369

1045.769

235.256

 

 

 

 

INVESTMENT

13555.673

14064.523

12034.180

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
2062.386
1179.202

1855.063

 

Sundry Debtors
4357.233
2648.274

4075.296

 

Cash & Bank Balances
4126.151
7987.841

7904.502

 

Other Current Assets
50.623
234.872

441.116

 

Loans & Advances
1455.677
1501.227

1403.700

Total Current Assets
12052.070
13551.416

15679.677

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
2694.533
1072.698

1091.532

 

Other Current Liabilities
1360.987
1995.821

1889.316

 

Provisions
1993.127
2391.984

2096.764

Total Current Liabilities
6048.647
5460.503

5077.612

Net Current Assets
6003.423
8090.913

10602.065

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

31424.782

2713.896

26465.861

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2011

31.03.2010

31.03.2009

 

SALES

 

 

 

 

 

Income

35540.939

25970.737

25591.268

 

 

Other Income

2997.625

3047.816

4097.477

 

 

TOTAL                                     (A)

38538.564

29018.553

29688.745

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Consumption of Raw Materials and Others

13416.045

9664.599

 

 

Purchases of Products for Resale

15787.575

9419.126

 

 

 

Employees’ Remuneration and Benefits

2413.132

2248.873

26616.312

 

 

Manufacturing , Administration, Distribution and Other Expenses

4625.762

4414.595

 

 

 

Accretion / Decretion in Stock

(505.021)

381.958

 

 

 

Prior Period Adjustments (Net)

1.309

(2.182)

 

 

 

TOTAL                                     (B)

35738.802

26126.969

26616.312

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

2799.762

2891.584

3072.433

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

192.344

57.661

103.752

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

2607.418

2833.923

2968.681

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

304.801

306.211

275.284

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

2302.617

2527.712

2693.397

 

 

 

 

 

Less

TAX                                                                  (H)

297.127

246.042

192.127

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

2005.490

2281.670

2501.270

 

 

 

 

 

Less

PROFIT TRANSFERRED TO CAPITAL REPATRIATION FUND

4.000

1.400

30.022

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Reserve Fund as per Bye-Law 58(i) of the Society

500.373

570.068

617.812

 

 

Provision for Contribution to Cooperative Education Fund

20.015

22.803

24.712

 

 

Reserve Fund for Contingency as per Bye- Law 58 (iii) of the Society

200.149

228.027

247.125

 

 

Reserve for Donations

4.000

4.000

4.000

 

 

Proposed Dividend

692.886

776.740

712.763

 

 

General Reserve

584.067

678.632

864.836

 

BALANCE CARRIED TO THE B/S

0.000

0.000

0.000

 

 

 

 

 

 

Earnings Per Share (Rs.)

30787.38

--

--

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2011

31.03.2010

31.03.2009

PAT / Total Income

(%)
5.20

7.86

8.42

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
6.48

9.73

10.52

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
13.99

14.45

13.97

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.08

0.09

0.11

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
0.32

0.20

0.24

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
1.99

2.48

3.09

 

 

LOCAL AGENCY FURTHER INFORMATION

 

FINANCIAL PERFORMANCE

 

The society has achieved good financial results for the Financial Year 2010-2011. The Society has posted Pre-Tax Profit of Rs.2302.600 millions during the year and Profit after Tax is Rs.2005.500 millions. The net worth of the Society has increased from Rs.26971.300 millions to Rs.28255.600 millions as on March 31, 2011.

 

MEMBERSHIPANDSHARECAPITAL

 

A cooperative thrives on the trust of its members. The total membership in KRIBHCO as on March 31, 2011 was 7356 cooperative societies, institutions and Government of India, as against 6546 on March 31, 2010. Phenomenal progress made by the Society bears testimony of increasing faith reposed in the Society. This has resulted in increasing membership over the years. The paid up share capital of the Society was Rs.3901.800 millions as on March 31, 2011.

 

PRODUCTION PERFORMANCE

 

The year being the 25th year of commercial operation, Plant achieved highly commendable performance creating 31 new records during the Financial Year 2010-2011. The highest ever yearly production of 18.41 Lakh MT of Urea and 11.58 Lakh MT of Ammonia were achieved which corresponds to a capacity utilisation of 106.5% and 115.4% respectively, breaking the previous highest production records achieved during the financial year 2005-2006.

 

The cumulative Urea and Ammonia production achieved since inception has been 41.78 million MT and 25.49 million MT respectively as on March 31, 2011. The Urea despatch from the plant during the Financial Year 2010-2011 was 18.41 Lakh MT which is the highest record achieved so far.

 

The record production of Argon of 5921.62 thousand NMł was achieved during the year. Also several records were achieved in Bio-Fertiliser production and dispatch.

 

PRODUCTIONPLAN2011-2012

 

The production plan target for the Financial Year 2011-2012 has been 17.30 Lakh MT of Urea and 10.31 Lakh MT of Ammonia. The targets have been fixed considering the expected shutdown of plants for Revamp jobs.

 

SCHEMES IMPLEMENTED, UNDER IMPLEMENTATION AND TOBE IMPLEMENTED

 

Revamp Project

 

The revamp of existing Ammonia and Urea Plants at Hazira is under progress. On completion of revamp, the production capacity of the plants will increase from 17.29 Lakh MT to 21.94 Lakh MT of Urea per annum i.e. an increase of 4.65 Lakh MT Urea annually. The total estimated cost of revamp is 1301 crore. Apart from the increase in production capacities there will be considerable savings in energy, resulting into lower production costs. The project work is in progress and many of the major equipments have already arrived at Plant.

 

New Gas Turbine based Power Plant

 

The Society is in the process of setting up a new gas turbine based Captive Power Plant of 72 MW capacity at estimated cost of approximately 400 crore to meet requirement of additional power after revamp. Surplus power will be sold in the open market.

 

Use of Cooling Tower Blow Down water for Township Horticulture

 

CT blow down water, which is currently used for horticulture purposes around Administration Building Lawns in Plant, is proposed to be extended for use for Township Horticulture by laying around 2500 meters of 10'' HDPE Header at a cost of Rs.6.000 Millions with proper isolation for the existing header from drinking water network. This will help in using 1500 Mł CT blow down water which is otherwise discharged in Balancing Pond, thus saving cost on costly drinking water. The scheme is under implementation.

 

Jetty at Hazira

 

The Society has revived the Jetty at Hazira to handle part of OMIFCO Urea in view of better rail/road connectivity for evacuation of the material at a total cost of Rs.340.300 Millions. Jetty has become operational since December 2010.

 

The first consignment of OMIFCO Urea arrived at Jetty on 29th December, 2010. Till end April, 2011 they have handled 80,905 MT of imported Urea from OMIFCO at this Jetty.

 

Zinc Sulphate Project

 

Zinc is a vital micronutrient for plant. There is growing demand for Zinc fertilisers in the country as Indian soils are almost 50% zinc deficient. Zinc Sulphate Monohydrate is a preferred composition by farmers due to non-caking, free flowing nature and higher zinc percentage. As there is ample opportunity in terms of growing demand and the Society is exploring the possibilities for setting up of plant for production of Zinc Sulphate Monohydrate.

 

Hazira Expansion Project

 

The Society is exploring the possibilities for setting up another mega Ammonia-Urea Plant at its existing fertilizer complex at Hazira. Environmental Clearance has already been received from Ministry of Environment and Forest. The Society has already approached Department of Fertilizers/Ministry of Petroleum and Natural Gas for allocation of Natural Gas on long term basis. The Society will initiate actions to set up Hazira Expansion Project after allocation of Natural Gas and availability of conducive policy for investment.

 

FERTILIZER POLICY

 

During the year 2010-2011, the NBS Policy was successfully implemented for all fertilisers except urea and was well received by all the stakeholders. The stage-III of New Pricing Scheme (NPS), applicable to the indigenous urea industry was effective up to March 31, 2010. This scheme has been extended until the new policy for urea industry is introduced. The new policy for urea is under active consideration of Government of India. Under the proposed policy, gas based urea manufacturers are likely to get fixed subsidy PMT of urea produced. Gas price pooling up to "cut off quantity" is also proposed under this new policy. The Society hopes that this policy will be a step towards the NBS. Amendments in the policy for new investments in urea sector dated September 4, 2008 is also under active consideration of Government of India. The Society is hopeful that the new policy of investments would be advantageous so as to attract investments in fertilizer industry.

 

MARKETING

 

Overall Agricultural Scenario

 

Rainfall was fairly good mainly due to near normal rains during South-West and Post Monsoon seasons. In comparison to Long Period Average (LPA) rainfall, the country as a whole received 44% less rainfall during winter (Jan-Feb, 2010) and 11% less during pre-monsoon (March-May, 2010). However, the country as a whole received 2% more rainfall during South West Monsoon (June-Sept.2010) and 21% above normal rainfall during Post-Monsoon Season (October-December 2010). This created favourable conditions for Agriculture operations in

most parts of the country barring Bihar, Eastern U.P, Orissa and Chhattisgarh. As per the latest estimate of Agriculture Ministry, total food grains production in the country may be around 241.58 million tonnes during 2010-2011 as against 218.20 million tonnes of last year.

 

Marketing Infrastructure

 

Marketing channel of KRIBHCO includes Cooperative Apex Federations, Institutional Agencies and Grass Root Level Primary Agriculture Societies. The Society's cooperative development programmes help its channel partners, especially PACS to acquire marketing skills and other agriculture practices for inclusive development of the cooperatives. The direct supplies to Primary Agricultural Cooperative Society (PACS) help these societies immensely as the timely supplies enable them to increase fertilizer consumption and agriculture productivity as well as to draw maximum financial benefits. The Society's commitment towards farming community for providing quality services has paid rich dividend in terms of strong Brand image for its products. The interdisciplinary team of marketing and extension experts spread all over the major States have worked extensively to reach farming community in all crop production systems. The Society has pan India presence. KRIBHCO Urea is an established brand in the key market territories across the length and breadth of the country. The major marketing territory consists of Andhra Pradesh, Bihar, Chhattisgarh, Gujarat, Haryana, Jharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Orissa, Puducherry, Punjab, Rajasthan, Tamil Nadu, Uttar Pradesh, Uttrakhand and West Bengal

 

Marketing Business Plan

 

An initiative has been taken to develop Marketing Business Plan for the whole year with "Participatory Approach" involving key marketing officials, keeping into view Financial, Process, Customer and Capacity Building Perspectives. The Business Plan exercise involved all field force in understanding the issues and challenges which resulted in enhanced performance. Similar exercise is being done in 2011-2012. While preparing the business plan, attempt has been made to analyse the impact of environmental factors like Agricultural and Fertilisers scenario of the country, likely policy environment, situational analysis of individual products, future thrust areas and resources have been taken into consideration.

 

Infrastructure at Ports

 

Development of own infrastructure at various ports is considered essential to add efficiency in operations. In this direction, the Society completed the construction of another warehousing complex with storage capacity of 15000 MT, at Tuticorin port with bagging capacity of 4000MTper day. The Society's Jetty at Hazira became operational during the year 2010-2011. The facility at Jetty includes a warehouse for storage of 15000 MT imported fertilizers and a conveyor belt from Jetty to warehouse.

 

Handling of Imported Fertilisers

 

OMIFCO Urea

 

The Society successfully completed the 6th consecutive year of Handling and Marketing of OMIFCO urea under the agreement with Department of Fertilizers, Government of India. During the year 2010-2011, the Society imported a record quantity of 10.62 Lakh MT granular urea from OMIFCO, Oman in 33 vessels. This Urea was handled at 9 Indian ports i.e. Visakhapatnam, Kakinada Deep Water, Krishnapatnam, Chennai, Tuticorin, New Mangalore, Magdalla (Hazira Jetty),Mundra and Kandla Ports. The Society has so far, imported 55.45 Lakh MT OMIFCO Urea in 186 vessels since inception of imports from OMIFCO, Oman. The overall physical and financial performance on handling of OMIFCO Urea has improved during the year and there has been a significant positive

contribution on this account. This could be achieved mainly by way of judicious despatches, checking cargo loss, close monitoring and prompt sales and realisation.

 

Import of DAP

 

During the year 2010-2011, the Society also imported and handled 12 vessels containing 3.87Lakh MT DAP at Viskhapatnam, Kakinada, Krishnapatnam, Tuticorin and Mundra Ports. The entire quantity of imported DAP was marketed through Society's own marketing network. The import and marketing of DAP has also made a significant contribution to the Society's profit.

 

Plan for Import of Fertilisers 2011-2012

 

During the year 2011-2012, the Society plans to import 50% of OMIFCO Urea produced apart from importing DAP/MOP/Complex fertilizers. It is expected that with optimum utilization of the infrastructure developed by the Society at Visakhapatnam, Tuticor in Ports and Hazira Jetty, the Efficiency will improve further thereby having more positive impact on Society's profitability.

 

Seed Multiplication Programme and Marketing of Hybrid Seeds

 

Certified Seeds

 

Seed is one of the major inputs in increasing agriculture production. Timely availability of seed in adequate quantity at consuming point at affordable price is essential to increase food grains production.

 

The Society initiated seed production programme in 1990-1991 to provide quality certified seeds of main crops to the farmers. Encouraging response of farmers towards KRIBHCO seeds inspired us to increase the seed production activity. The Society has produced 2,48,015 quintals in 2010-11. The seeds produced were made available to the farmers through Krishak Bharati Sewa Kendras, Co-operative Societies and State Cooperative Marketing Federations in the state of Gujarat, Haryana, Madhya Pradesh, Punjab, Rajasthan and Uttar Pradesh. The main crops under seed production are:- Cereals- Paddy ,Wheat., Barley and Maize; Pulses - Gram, Pea, Moong, Arhar and Lentil; Oilseeds-Mustard, Soybean, Groundnut and Caster. Fodder- Guar.

 

To ensure the quality, seeds are being processed at 13 modern seed processing plants located at Abohar (Punjab), Aligarh (U.P.), Bulandshahar (U.P.), Dewas (M.P.), Gajraula (U.P.), Gorakhpur (U.P.) Himmatnagar (Gujarat), Hissar (Haryana), Jungipur (U.P.),Ludhiana(Punjab) Kota (Rajasthan)Moth(U.P.) and. Shahjahanpur (U.P.) The total production capacity of these plants is 2.70 lakh quintal. The Society is planning to establish 2 new seed grading units, one in Bihar (Arrah, Distt- Bhojpur) and another in Rajasthan (Hanumangarh). After commencement of these units the total installed capacity of the Society will be 3.00 lakh quintal per annum. In order to develop further infrastructure for seed multiplication, the Society has purchased land at Hissar in Haryana, Kota and Hanumangarh in Rajasthan for establishment of Seed Grading Units.  During the year under review, the Society sold 2,47,157 quintals of certified seeds of various crops and varieties and plans to produce 3.80 lakh quintals of seeds during 2011-2012.

 

Hybrid Seeds

 

The growth of seed industry is expected to reach Rs.120000.000 Millions during 2014 from Rs.52000.000 Millions during 2008. Hybrid Seeds have replaced the public varieties ranging from 3% to 100% in various crops. The area covered under different Hybrid Crops in the country is Rice (3%), Jowar (60%), Bajra (90%), Maize (95%), Cotton (97%) and Sunflower (100%). During 2010, the Society entered into a MOU with a renowned Hybrid Seed company for marketing of their seeds through Society`s Marketing network in KRIBHCO's own brand. Accordingly, during the year, Society marketed 1,48,686 packets of Bt. Cotton, 290.54 quintals of Paddy Hybrid, 3041.08 quintals of Paddy Research, 1677.57 quintals of Maize Hybrid and 7.74 quintals ofHybrid Sunflower Seeds. In view of popularity and Crop Performance of KRIBHCO's Hybrid Seed among the progressive farmers of the country and rapid increase in demand in market, the Society, plans to sale Rs.5.10 Lakh packets of Bt. Cotton, 344 quintals of Paddy Hybrid, 7885 quintals of Paddy Research, 5557 quintals Hybrid Maize, 600 quintals of Hybrid Bajra and 17 quintals of Hybrid Sunflower Seed during the year 2011-2012.

 

Joint Ventures and Subsidiaries

 

Oman India Fertiliser Company SAOC (OMIFCO)

 

The Society is a lead sponsor of Oman India Fertilizer Company (OMIFCO) with an investment of US$ 69.5Million (Equivalent to Rs.3285.300 Millions) as equity representing 25% of paid up equity capital of OMIFCO. The capacity of OMIFCO plant is 16.52 Lakh MT per annum of granular Urea and 11.9 Lakh MT per annumof Ammonia. Year 2010 (Jan10 -Dec10) was fifth complete year of the Commercial Production of OMIFCO. In this period, OMIFCO produced 20.77 Lakh MT of urea which is 125% of the rated capacity and 13.47 lakh MT of Ammonia being 113% of the rated capacity. OMIFCO sold 21.13 Lakh MT of Urea and 1.38 Lakh MT of surplus Ammonia.

 

KRIBHCO is handling and marketing 50% of the urea produced by OMIFCO. For the calendar year 2010, OMIFCO paid a dividend of 45.5% on paid up capital. KRIBHCO received US$ 31.62 Million as dividend income from OMIFCO during the year.

 

KRIBHCO Shyam Fertilizers Limited (KSFL)

 

KRIBHCO Shyam Fertilizers Limited (KSFL), a joint venture company of KRIBHCO and M/s STL Fertilizers Pvt. Ltd., operates the Shahjahanpur Fertilizer Complex. The Society holds 85% of the total shareholding of KSFL

 

On operational parameters, the year 2010-2011 was a landmark year in the history of the Shahjahanpur plant ever since it commenced commercial production in December 1995. During the year, KSFL achieved highest ever Urea production of 10.28 Lakh MT with capacity utilization of 119% and Ammonia production of 6.08 Lakh MT with capacity utilization of 121%.

 

KSFL has constructed a new132KV switchyard for export of Surplus Power, proposed to be generated from standby gas turbine. The transmission line of about 15 km is being constructed to connect the Captive Power Plant to UPPCL Grid. The operation of both the GTs simultaneously will not only enable to produce about 24 MW Surplus Power but also will bring in energy efficiency in production of high pressure steam for the plant.

 

KRIBHCO Infrastructure Limited (KRIL)

 

"KRIBHCO Infrastructure Limited" (KRIL) is wholly owned subsidiary of KRIBHCO for undertaking total Logistic Business including allied activities. KRIL is presently operating six container trains on various sectors and is in the process of procuring additional Rakes and Containers.

 

KRIL is maintaining and operating Rail Linked Terminal at Hazira under Leave and Licence Agreement with KRIBHCO. KRIL is exploring the possibilities to set up Logistics Parks/Inland Container Depots (ICDs)/Container Freight Stations (CFS)/Free Trade Warehousing Zones/ Domestic Container Terminals/ Private Freight Terminals (PFT)/ Warehouses preferably with Railway siding at various strategic locations either individually or in Joint Venture with Strategic partners in the country.

 

Majority of land required for setting up Rail Linked Inland Container Depot (ICD) at Rewari (Haryana) has already been acquired. Construction work has commenced. All statutory approvals for setting up ICD at Modinagar (Uttar Pradesh) are in advanced stage. Initiative has been taken for setting up of Rail Linked ICD / Logistic Park at Hindaun City (Rajasthan) and Shahjahanpur (Uttar Pradesh).

 

KRIL holds 10% equity in the Continental Multimodal Terminals Limited (CMTL). Rail linked ICD at Hyderabad is likely to be completed shortly. CMTL is in advanced stage of setting up rail linked ICD at Tuticorin. KRIL along with GIDC are exploring the possibilities to set up Rail linked Logistics Park ICD/PFT/CFS at Dahej and other suitable locations.

 

Gujarat State Energy Generation (GSEG)

 

GSEG is a joint venture between Gujarat State Petroleum Corporation Limited (GSPC), other Government of Gujarat Companies, KRIBHCO and GAIL (India) Limited. In addition, IFCI and SBI are strategic partners. It is operating a 156MWGas based Combined Cycle Power Plant at Mora, in Surat (Gujarat) since June 2002. Plant is consistently operating satisfactorily. KRIBHCO holds 26.77% equity in GSEG i.e. Rs.930.400 millions.

 

GSEG is implementing a 350MW Combined Cycle Gas Based Expansion Project at its existing Site at an estimated cost of Rs.11600.000 millions. Erection work is in progress and the Project is likely to be completed in August, 2011. After implementation of this 350 MW, the total installed capacity of the Company would go up from156MWto 506MW. GSEG has declared a dividend of 3% for the Financial Year 2009-2010.

 

GRAMINVIKASTRUST

 

Gramin Vikas Trust (GVT), is a nonprofit entity established and supported by KRIBHCO for the upliftment of the marginalized rural community and acting as a catalyst to enable the socially and economically disadvantaged rural and tribal communities to improve their livelihoods on sustainable basis. The Trust is operating in 8 states namely Madhya Pradesh, Rajasthan, Gujarat, Bihar, Orissa, Jharkhand, Chhattisgarh and West Bengal through well established offices and dedicated teams. It has also undertaken short term assignments of national importance like case studies, monitoring and evaluation work etc. in the state of Haryana, Maharashtra, Uttarakhand and Himachal Pradesh.

 

Recently, GVT carried out three pilot studies awarded by National Rainfed Area Authority (NRAA). It has been chosen by Ministry of Panchayati Raj as a Technical Support Institution for 17 districts of Madhya Pradesh, Bihar, Jharkhand and West Bengal for extending hand holding support to all tiers of Panchayati Raj Institutions for the preparations of Perspective Plan and Annual Plans during the 12th Five year plan period. In Gujarat, GVT was associated with the most prestigious project of Census-2011 phase in 26 districts.

 

GVT recognizes Training and capacity building as an important enabler and has, therefore, conducted training programmes meant for district level officials under SGSY in Bihar and Jharkhand awarded by National Institute of Rural Development (NIRD). It has also conducted trainings for the elected representatives of Panchayat on decentralized planning in Baran District (Rajasthan). Government of Gujarat has handed over the management of a Vocational Training Centre (VTC) at Dahod. In Rajasthan,GVT has been provided amobile van by the State Government to reach out to the communities and to upgrade their skills under Eklavya Scheme.

 

GVT has been a pioneer in the field of collaborative research in agriculture with academic institutions and communities as partners including international organizations for better dissemination of research outcomes and appropriate technologies. Partnerships are in existence with EU and CAZS, Bangor University, U.K. GVT, with the support of DFID, has made an attempt under Research into Use Project (RiUP) to promote a Seed Producer Company organizing 21 Seed Producers Groups involving 221 farmer's in fourteen villages under three Blocks of

Mayurbhanj district.

 

GVT, since its inception, through its watershed projects has brought nearly 75600 hectares area for treatment and covered nearly 2,45,000 Households in the targeted areas. GVT is implementing pilot projects on 5 agricultural innovations in its operating states in consortium mode it her as lead agency or as a partner organization funded under NAIP. GVT has established 15 Homestead Farming projects (WADI) under the funding of NABARD to address the issue of sustainable livelihood for marginal farmers.

 

National Livelihood Resource Institute (NLRI) of GVT at Ratlam (M.P.) has started under its ambit a School of Rural Management in collaborative mode with KIIT University, Bhubaneswar for conducting certificate courses in allied subjects. NLRI is also poised to host discourses focusing on carbon management and climate change.

 

INFORMATION TECHNOLOGY

 

The Society's business processes and operations rely on vast amount of information repository spread across its various functional units. The Information Technology and Communication facilities such as Local and Wide Area Networks, INTRANET based information exchanges; electronic mail, internet access, web site etc. have been continuously maintained and the security concerns are addressed from time to time. New applications for intra organizational information exchange have been developed to reduce paperwork.

 

KRIBHCOSAHAKARITAAWARDS

 

KRIBHCO Sahakarita Awards for the year 2009- 2010 were presented to two eminent cooperators in its 30th AGM held on May 20, 2010. KRIBHCO Sahakarita Shiromani Award was conferred on Mr. Shivajirao G. Patil from Maharashtra and KRIBHCO Sahakarita Vibhushan Award on Shri Dalsangbhai J. Patel (Chaudhary) from Gujarat for their dedicated efforts for development of the Co-operative Movement.

 

AWARDS/HONOURS

 

During the year, following awards have been received by the Society:

 

·         FAI Award for educational film titled "Soil Health Improvement and Farmers' Prosperity", highlighting fertiliser use efficiency and soil health.

 

·         'Performance Excellence Award-2010' for Financial and Operational Strength sponsored by Indian Institution of Industrial Engineering(IIIE) FAI Award-2010 for 'Production, Promotion and Marketing ofBio-Fertilizers".

 

·         Bagged Gold Trophy in National Essay Competition at 52nd National Convention of IIIE and National seminar on "Pillars of Prosperity: Energy, Economy and Environment."

 

·         New look of In-house Magazine "Kribhco News" bagged award from Public Relation Society of India (PRSI).

 

·         Mahadhan Award for excellence in Crop Productivity Improvement for the year 2010-2011 to KRIBHCO-Maharashtra consisting of a Trophy and a cash Prize of 25,500.00

 

CONTINGENT LIABILITIES:

 

Particulars

 

31.03.2011

(Rs. in millions)

31.03.2010

(Rs. in millions)

Claims against Society/Disputed Liabilities

17.295

1.600

Disputed liability relating to Tax matters

278.563

268.050

Disputed liability relating to labour matters

1628.622

1454.168

Court cases/Arbitration with Contractors/ Suppliers

127.927

388.791

Guarantees/Counter Guarantees and Letters of Credit given by Banks on behalf of the Society

811.719

3251.806

Guarantees/Counter Guarantees to lenders and others given by the Society in respect of Joint Ventures/ Subsidiaries (including Surety Bonds and Letter of Comfort).

13423.301

12062.456

Total

16287.427

17426.871

 

Fixed Assets:

 

·         Freehold Land

·         Leasehold Land

·         Building

·         Roads, Culverts and Drains

·         Plant, Machinery and Other Equipments

·         Rolling Stocks

·         Railway Sidings

·         Vehicles

·         Furniture, Fixture and Other Office Equipment

·         Computer Software

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.49.64

UK Pound

1

Rs.78.35

Euro

1

Rs.65.80

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

7

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

7

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

6

--LIQUIDITY

1~10

7

--LEVERAGE

1~10

7

--RESERVES

1~10

7

--CREDIT LINES

1~10

6

--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

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

59

 

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

-

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.