|
Report Date : |
23.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHRI BHAGWATI OIL MILL |
|
|
|
|
Registered
Office : |
114/55-56, G,I,D,C Chandisar, TA, Palanpur, District Banaskantha, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Year of
Establishment : |
2006 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.5.647 Millions |
|
|
|
|
IEC No.: |
0804006962 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AEGPP7227L |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
|
|
|
|
Line of Business
: |
Manufacturer and supply of Various Grades of Castor Oils, Castor Cake
and related Products |
|
|
|
|
No. of
Employees: |
25 Approximately (In Office – 5, In Factory – 20) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 23000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established partnership concern having satisfactory
record. Trade relations are reported to be fair. Business is active. Payment
are reported to be usually correct and as per commitments. The concern 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Kunal Bhatol |
|
Designation : |
General Manager |
|
Contact No.: |
91-9574859507 |
|
Date : |
18.07.2012 |
LOCATIONS
|
Registered Office/Factory : |
114/55-56, G,I,D,C Chandisar, TA, Palanpur, District Banaskantha, |
|
Tel. No.: |
91-2742-282453 |
|
Mobile No.: |
91-9574859507 (Mr. Kunal Bhatol) |
|
Fax No.: |
91-2742-283357 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
45000 sq.ft |
|
Location : |
Owned |
PARTNERS
|
Name : |
Harjibahi Patel |
|
Designation : |
Partner |
|
Address : |
28, Gayatri Society, opposite Income Tax office, Aburoad, Highway,
Palanpur, |
|
Date of Birth/Age : |
45 Years |
|
Experience : |
More than 20 years Oil
Industries |
|
|
|
|
Name : |
Mr. Fljibhai Bhatol |
|
Designation : |
Partner |
|
Address : |
26, Arbuda Nagar, |
|
Date of Birth/Age : |
64 Years |
|
Qualification : |
Bachelor of Commerce |
|
Experience : |
More than 30 Years in Banking and Finance |
KEY EXECUTIVES
|
Name : |
Mr. Kunal Bhatol |
|
Designation : |
General Manager |
|
Address : |
28, Arbuda Nagar, |
|
Date of Birth/Age : |
32 Years |
|
Qualification : |
MBA ( |
|
Experience : |
More than 5 years Oil
Industries |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and supply of Various Grades of Castor Oils, Castor Cake
and related Products |
|
|
|
|
Exports : |
|
|
Products : |
Castrol Oil |
|
Countries : |
·
·
·
·
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C Cash 7 Days |
|
|
|
|
Purchasing : |
Cash/Credit (30 Days) |
PRODUCTION STATUS As On 31.03.2012
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Castor Oil Cold Press |
MT |
150 |
120 |
|
Castor Oil FSG |
MT |
150 |
130 |
|
Castor Cake |
MT |
350 |
300 |
GENERAL INFORMATION
|
Customers : |
Manufacturers, Traders , Importers ·
Silverline Chemicals ·
Gandhi Herbal India Private Limited ·
Orchid International ·
Micro Inks Limited |
|
|
|
|
No. of Employees : |
25 Approximately (In Office – 5, In Factory – 20) |
|
|
|
|
Bankers : |
Bank of |
|
|
|
|
Facilities : |
Credit Limited Rs.6.000 Millions
(increase in credit limit under Process; Current status: Credit limit
(CC) of Rs.20.000 Millions has been approved by Gandhinagar zonal office of
Bank of India it is undergoing sanctioning processing local branch, likely to
be sanctioned till end of this month. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mr. Parag Malvi Chartered Accountant |
|
Address : |
212 2nd Floor, Whit House Gurunanak Chowk, Palanpur, |
|
Tel. No.: |
91-2742-259660 |
|
Mobile No.: |
91-9820568407 |
|
E-Mail : |
|
|
|
|
|
Auditor 2: |
|
|
Name : |
Jayaram G. Tatu and Company Chartered Accountant |
|
Address : |
Near |
|
Pan No.: |
AAJPT7615B |
CAPITAL STRUCTURE
As on 31.03.2012
|
Capital Investment : |
|
|
Owned : |
Rs.5.647 Millions |
|
Borrowed : |
- |
|
Total : |
Rs.5.647 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particular |
31.03.2012 |
|
|
146.669 |
|
Net Profit |
0.908 |
|
|
|
SUMMARIZED BALANCE SHEET
|
Particular |
31.03.2012 |
|
Partners Capital |
5.648 |
|
Secured Loans |
5.904 |
|
Unsecured Loans |
1.954 |
|
Fixed Assets |
6.215 |
|
Investment and Deposits |
4.931 |
|
Sundry Debtors |
3.565 |
|
A/C Receivable |
3.565 |
|
Cash Bank |
24899 |
|
Sundry Creditors |
17.383 |
|
Other Liability |
7.417 |
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partners Capital |
|
|
1.143 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1.143 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
5.352 |
|
|
2] Unsecured Loans |
|
|
10.449 |
|
|
TOTAL BORROWING |
|
|
15.801 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
16.944 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
6.978 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.540 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
1.651 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
1.242 |
|
|
Other Current Assets |
|
|
14.349 |
|
|
Loans & Advances |
|
|
0.000 |
|
Total
Current Assets |
|
|
17.242 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
7.711 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
0.105 |
|
Total
Current Liabilities |
|
|
7.816 |
|
|
Net Current Assets |
|
|
9.426 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
16.944 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
71.661 |
|
|
|
Other Income |
|
|
0.087 |
|
|
|
TOTAL |
|
|
71.748 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
|
64.687 |
|
|
|
Packing Expenses |
|
|
0.185 |
|
|
|
Light Expense |
|
|
1.606 |
|
|
|
Refine Pamolin Oil |
|
|
0.687 |
|
|
|
Freight Expenses |
|
|
0.367 |
|
|
|
Outward Expenses –Oil and Cake |
|
|
0.133 |
|
|
|
Factory Rent |
|
|
0.180 |
|
|
|
Salary Expenses |
|
|
0.300 |
|
|
|
Professional Expense |
|
|
0.043 |
|
|
|
Bad debts |
|
|
0.305 |
|
|
|
Other Expenditure |
|
|
2.427 |
|
|
|
TOTAL |
|
|
70.920 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
0.828 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
0.317 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
|
|
0.511 |
|
|
|
|
|
|
|
|
The above information has been parted by Mr. Kunal Bhatol
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2011 |
|
PAT / Total Income |
(%) |
|
|
0.72 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
0.72 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
2.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.45 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
20.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
2.21 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
of the firm |
Yes |
|
Premises
details |
Yes |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
Yes |
|
Name
of Person Contacted |
Yes |
|
Designation
of contact person |
Yes |
|
Turnover
of firm for last two years |
Yes |
|
Profitability
for last two years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
No |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
No |
|
Major
Suppliers |
No |
|
Major
Customers |
Yes |
|
Payment
Terms |
Yes |
|
Export
/ Import Details [If Applicable] |
Yes |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
No |
|
Last
accounts filed at ROC |
No |
|
Major
Shareholders, if applicable |
No |
TRADE REFERENCE
|
Name: |
Silverline Chemicals |
|
Address: |
|
|
Tell no.: |
91-9810339289 (Mr.Suresh) |
|
Web Site: |
|
Name: |
Gandhi Herabal |
|
Address: |
Guru Deda, |
|
Tell no.: |
91-9425327699 (Mr. Nemkumar Gandhi) |
|
Web Site: |
|
Name: |
Orchid International |
|
Address: |
4/26, Netaji Nagar, Kolkata, West |
|
Tell no.: |
91-9831498656 (Mr. Debashish Ghosh) |
|
Web Site: |
|
Name: |
Micro Inks Limited |
|
Address: |
Unit No.-2, Survey No.137/1, Jani Vankad, |
|
Tell no.: |
91-260352100 (Mr. Regi Nair) |
|
Web Site: |
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.55.15 |
|
|
1 |
Rs.86.58 |
|
Euro |
1 |
Rs.67.60 |
INFORMATION DETAILS
|
Report Prepared
by : |
BYI |
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 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.