|
Report Date : |
21.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
INDIAN GREENHOUSES PRIVATE LIMITED (W.e.f .16.09.2010) |
|
|
|
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Formerly Known
As : |
SHRIHARI GREENHOUSES PRIVATE LIMITED |
|
|
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Registered
Office : |
7, Namrata Commercial Centre, Talegaon, |
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Country : |
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|
|
|
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Financials (as
on) : |
31.03.2010 |
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|
|
|
Date of
Incorporation : |
16.05.2002 |
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|
|
|
Com. Reg. No.: |
25-016962 |
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|
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Capital
Investment/ Paid-up Capital: |
Rs. 1.100 Millions |
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|
|
CIN No.: [Company Identification
No.] |
U01122PN2002PTC016962 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Fabrication , construction of Greenhouses and Labour Work. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 33500 |
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|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company 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 |
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Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
7, Namrata Commercial Centre, Talegaon, Chakan Road, Talegaon Dabhade,
Pune-410 507, Maharashtra, India |
|
Tel. No.: |
91-2114-229772/73 |
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Fax No.: |
91-2114-229774 |
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E-Mail : |
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Area : |
2000 sq. ft. |
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Location : |
Owned |
DIRECTORS
|
Name : |
Mr. Vishwas Jogdand |
|
Designation : |
Director |
|
Address : |
B-3 Ploy No. 53, Vatan Nagar, Talegaon station ,Talmaval Talegaon,
Dabhade, Pune-410 507, Maharashtra, India |
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Date of Birth/Age : |
01.07.1968 |
|
Date of Appointment : |
16.05.2002 |
|
DIN No: |
01656075 |
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|
|
|
Name : |
Mrs. Rekha Jogdand |
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Designation : |
Director |
|
Address : |
B-3 Ploy No. 53, Vatan Nagar, Talegaon station ,Talmaval Talegaon,
Dabhade, Pune-410 507, Maharashtra, India |
|
Date of Birth/Age : |
01.04.1973 |
|
Date of Appointment : |
16.05.2002 |
|
DIN No: |
01634644 |
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|
|
|
Name : |
Mr. Rajkumar Deodhare |
|
Designation : |
Director |
|
Address : |
Plot No.17, S. No.1/1A/5,
Village Malwadi, Tal Maval, Pune-410507, Maharashtra, India |
|
Date of Birth/Age : |
05.02.1969 |
|
Date of Appointment : |
16.05.2002 |
|
DIN No: |
00867565 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(As On 15.09.2010)
|
Names of Shareholders |
|
No. of Shares |
|
Vishwas Jogdand |
|
66,000 |
|
Rekha Jogdand |
|
41,800 |
|
Rajkumar Deodhare |
|
2,200 |
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|
|
|
|
Total |
|
1,10,000 |
(As On 15.09.2010)
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Fabrication , construction of Greenhouses and Labour Work. |
GENERAL INFORMATION
|
Bankers : |
IDBI Limited, Namrata Commercial Complex, Talegaon Dabhade , Pune –
410507, Maharashtra , India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Dayanand Kadam and Associates Chartered Accountants |
|
Address : |
376/ 377 , Venketesh Construction, Third Floor, Unit No. 15, Vitthal
Mandir Lane, Navi Peth, Pune – 411030, Maharashtra, India |
|
Tel. No.: |
91-22-24331266 |
|
Mobile No : |
91-9881739395 |
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PAN No.: |
AGOPK9978M |
CAPITAL STRUCTURE
(As On 31.03.2010)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,00,000 |
Equity Share |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,10,000 |
Equity Share |
Rs.10/- each |
Rs.1.100
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1.100 |
1.100 |
1.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
7.263 |
5.106 |
3.238 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
8.363 |
6.206 |
4.338 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3.270 |
3.905 |
4.041 |
|
|
2] Unsecured Loans |
3.448 |
1.283 |
0.940 |
|
|
TOTAL BORROWING |
6.718 |
5.188 |
4.981 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
15.081 |
11.394 |
9.319 |
|
|
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APPLICATION OF FUNDS |
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|
|
|
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|
|
|
|
|
FIXED ASSETS [Net Block] |
1.786 |
2.139 |
2.009 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
|
|
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|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
27.023
|
22.554 |
44.945 |
|
|
Sundry Debtors |
16.981
|
14.683 |
5.834 |
|
|
Cash & Bank Balances |
0.009
|
0.065 |
0.017 |
|
|
Other Current Assets |
1.605
|
1.965 |
1.515 |
|
|
Loans & Advances |
3.318
|
0.000 |
0.728 |
|
Total
Current Assets |
48.936
|
39.267 |
53.039 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
1.859
|
27.212 |
44.266 |
|
|
Other Current Liabilities |
31.994
|
0.060 |
0.040 |
|
|
Provisions |
1.788
|
2.740 |
1.423 |
|
Total
Current Liabilities |
35.641
|
30.012 |
45.729 |
|
|
Net Current Assets |
13.295
|
9.255 |
7.310 |
|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
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|
|
|
|
TOTAL |
15.081 |
11.394 |
9.319 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
INCOME |
172.944 |
118.947 |
111.404 |
|
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Less: |
|
EXPENDITURE |
169.790 |
116.213 |
NA |
|
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|
PROFIT BEFORE
TAX |
3.154 |
2.735 |
1.220 |
|
|
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Less: |
TAX |
0.997 |
0.867 |
0.377 |
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|
PROFIT AFTER TAX |
2.157 |
1.868 |
0.843 |
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|
BALANCE CARRIED
TO THE B/S |
NA |
5.106 |
3.238 |
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|
Earnings Per
Share (Rs.) |
13.38 |
12.45 |
7.66 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.25
|
1.57 |
0.76 |
|
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|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.22
|
6.61 |
2.22 |
|
|
|
|
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.38
|
0.44 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.07
|
5.67 |
11.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37 |
1.31 |
1.16 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U01122PN2002PTC016962 |
|
Name of the
company |
SHRIHARI
GREENHOUSES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
7, Namrata Commercial Centre, Talegaon, Chakan Road, Talegaon Dabhade,
Pune-410 507, Maharashtra, India |
|
Type of charge |
·
Immovable
Property ·
Book
Debts ·
Movable
Property ·
Stock |
|
Particular of
charge holder |
IDBI Limited, Namrata Commercial Complex, Talegaon Dabhade , Pune –
410507, Maharashtra , India |
|
Nature or description
of the instrument creating or modifying the charge |
Agreement Of
Hypothecation |
|
Date of
instrument Creating the charge |
19.06.2007 |
|
Amount secured by
the charge |
Rs.5.000 Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
RATE OF INTEREST Plr + 1%
Presently 14.25% P. A. at monthly rests or at the rate that shall be
stipulated by the bank from time to time. TERMS OF REPAYMENT Renewal after
fifteen months from date of disbursement or to be repaid in lumpsum on or
before 18/09/2008 MARGIN 25% On Stock and
Debtors EXTENT AND OPERATION OF THE CHARGE First charge on
prime security of hypothecation of stock in trade & book debts upto 90
days and collateral security of land
and factory premises at Talegaon Dabhade value Rs.3.425 Millions and mortgage
of office premises at Talegaon Dabhade value Rs. 1.425 Millions and
hypothecation of plant and machinery and furniture of Rs.0.200 Millions,
stock in trade consist of G.I.P V.V. stablised polythene films, shed nets
etc. |
|
Short particulars
of the property charged |
Prime security of
hypothecation of stock in trade & book debts upto 90 days and collateral security of land & factory
premises at Talegaon Dabhade Value Rs.3.425 Millions & Mortgage Of Office
Premises At Talegaon Dabhade Value Rs. 1.425 Millions and Hypothecation of
Plant and Machinery and Furniture of Rs. 2 Lakhs, Stock in Trade consist of
G.I.P V.V. Stablised Polythene Films, Shed Nets etc.situated at S. No. 67,
Hissa No. A/1, Talegaon Dabhade, District Pune. |
Fixed Assets:
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipments
·
Computer
·
Factory Shed
·
Generator
·
TATA
·
Office Interior
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.49.21 |
|
|
1 |
Rs.77.75 |
|
Euro |
1 |
Rs.64.58 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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.