MIRA
INFORM REPORT
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Report Date : |
27.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
PRABHAT MILK AND AGRO INDUSTRIES PRIVATE LIMITED |
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Registered
Office : |
Gat No. 115/3, Nirmal Nagar, Shrirampur Sangamner Highway, Post Tilak Nagar,
Tal Rahata, Ahmednagar-413720, Maharashtra
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Country : |
India |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
03.08.2010 |
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Com. Reg. No.: |
11-137025 |
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Capital Investment
/ Paid-up Capital : |
Rs.0.100
Million |
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CIN No.: [Company Identification
No.] |
U15200PN2010PTC137025 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Supplier of Milk Product. |
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No. of Employees
: |
18 [Approximately] |
RATING & COMMENTS
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MIRA’s Rating : |
B (27) |
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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 3200 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a successor of Prabhat Milk and Agro Industries, a proprietory
concern started in the year 2004. Trade relations are reported as fair. Business is active. Payments are
reported unknown. The company can be considered for business dealings with some caution.
Profit and loss of the company is not available. |
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
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. Vishwajeet |
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Designation : |
Vice President |
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Contact No.: |
91-9011040777 |
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Date : |
25.01.2012 |
LOCATIONS
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Registered Office : |
Gat No. 115/3, Nirmal Nagar, Shrirampur Sangamner Highway, Post Tilak
Nagar, Tal Rahata, Ahmednagar-413720, Maharashtra, India |
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Tel. No.: |
91-2422-645904/645905 |
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Mobile No.: |
91-9011040777 [Mr. Vishwajeet] |
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Fax No.: |
91-2422-265816 |
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E-Mail : |
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Location : |
Owned |
DIRECTORS
AS ON 02.01.2012
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Name : |
Mr. Vivek Sarangdhar Nirmal |
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Designation : |
Director |
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Address : |
At Post Ranjankhol, Tal Rahata, Ranjankhol, Ahmednagar-413720,
Maharashtra, India |
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Date of Birth/Age : |
16.08.1983 |
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Date of Appointment : |
03.08.2010 |
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Din No.: |
00820923 |
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Other Directorship:
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Name : |
Mr. Kashinath Nuraji Girhe |
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Designation : |
Director |
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Address : |
At Post Nandur Bu. Tal Rahata, Nandur Bu, Ahmednagar-413720,
Maharashtra, India |
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Date of Birth/Age : |
01.06.1977 |
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Date of Appointment : |
03.08.2010 |
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Din No.: |
00820874 |
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Other Directorship:
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KEY EXECUTIVES
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Name : |
Mr. Vishwajeet |
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Designation : |
Vice President |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 02.01.2012
|
Names of Shareholders |
Address of
Shareholders |
No. of Shares |
|
Vivek Sarangdhar Nirmal |
At Post
Ranjankhol, Tal Rahata, Ranjankhol, Ahmednagar-413720, Maharashtra, India |
5000 |
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Kashinath Nuraji Girhe |
At Post Nandur Bu.
Tal Rahata, Nandur Bu, Ahmednagar-413720, Maharashtra, India |
5000 |
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Total |
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10000 |
AS ON 02.01.2012
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Bodies
corporate |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Supplier of Milk Product. |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Suppliers : |
·
Dwarkanath Karbhari Gujar |
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Customers : |
End Users ·
Sangita Dairy ·
Sunrise Dairy |
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No. of Employees : |
18 [Approximately] |
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Bankers : |
State Bank of India, Rahata Branch |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Shashank Suvarnapathaki and Company Chartered Accountants |
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Address : |
3801, Barde Lane, Navi Peth, Ahmednagar-414001, Maharashtra, India |
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Pan No.: |
AONPS9755F |
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Associates/Subsidiaries : |
Sunfresh Agro Industries Private Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
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|
31.03.2011 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.705 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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0.805 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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16.242 |
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TOTAL BORROWING |
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16.242 |
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DEFERRED TAX LIABILITIES |
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0.066 |
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TOTAL |
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17.113 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.049 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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2.745 |
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Sundry Debtors |
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18.119 |
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Cash & Bank Balances |
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0.457 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.190 |
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Total
Current Assets |
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21.511 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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5.810 |
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Other Current Liabilities |
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0.637 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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6.447 |
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Net Current Assets |
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15.064 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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17.113 |
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PARTICULARS |
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31.03.2011 |
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SALES
[APPROXIMATELY] |
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220.000 |
Expected Sales (2011-12) : Rs.260.000 Millions.
The above information has been parted by Mr. Vishwajeet.
KEY RATIOS
|
PARTICULARS |
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31.03.2011 |
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Debt Equity Ratio (Total Liability/Networth) |
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28.18 |
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Current Ratio (Current Asset/Current Liability) |
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3.34 |
LOCAL AGENCY FURTHER INFORMATION
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Check List by
Info Agents |
Available in
Report (Yes / No) |
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1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
Yes |
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5) Type of Business |
Yes |
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6) Line of Business |
Yes |
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7) Promoter’s background |
-- |
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8) No. of employees |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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11) Turnover of firm for last one year |
Yes |
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12) Profitability for last three years |
No |
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13) Reasons for variation <> 20% |
No |
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14) Estimation for coming financial year |
Yes |
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15) Capital in the business |
Yes |
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16) Details of sister concerns |
Yes |
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17) Major suppliers |
Yes |
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18) Major customers |
Yes |
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19) Payments terms |
Yes |
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20) Export / Import details (if applicable) |
No |
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21) Market information |
-- |
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22) Litigations that the firm / promoter involved in |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
No |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
No |
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28) Incorporation details, if applicable |
-- |
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29) Last accounts filed at ROC |
-- |
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30) Major Shareholders, if available |
-- |
OPERATING REVIEW:
The company was incorporated on 3rd August 2010. The
directors are hopeful that the activities will start in the next year.
TRADE REFERENCES:
·
Sangita Dairy
·
Sunrise Dairy
·
Dwarkanath Karbhari Gujar
FIXED ASSETS:
·
Building
·
Plant and Machinery
·
Office Equipments
·
Furniture and Fixtures
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.50.02 |
|
|
1 |
Rs.78.05 |
|
Euro |
1 |
Rs.65.13 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
|
|
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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.