|
Report Date : |
14.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
ZUARI HOLDINGS LIMITED |
|
|
|
|
Registered
Office : |
Jai Kissan Bhawan, Zuarinagar, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
10.09.2009 |
|
|
|
|
Com. Reg. No.: |
24-006177 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 20.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65910GA2009PLC006177 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRZ11011A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACZ3924H |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Saler of fertilisers and other related products. |
|
|
|
|
No. of Employees
: |
Information denied by Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 70000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. There appears
some accumulated losses in the records during the current year. Business is
active. Payments are reported to be slow. The company can be considered for business dealing with some caution. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
INFORMATION DECLINED BY
|
Name : |
Mr. Prabhakar |
|
Designation : |
Treasury Chief Manager |
|
Date : |
13.06.2012 |
LOCATIONS
|
Registered Office / Corporate Office: |
Jai Kissan Bhawan, Zuari Nagar, Goa – 403726, |
|
Tel. No.: |
91-832-2592180 / 2592431 |
|
Fax No.: |
91-832-2555279 |
|
E-Mail : |
|
|
Website: |
DIRECTORS
AS ON 12.05.2011
|
Name : |
Mr. Suresh Krishnan Narayanan |
|
Designation : |
Director |
|
Address : |
B 1, Zil Colony, Zuari Nagar, Goa – 403726, |
|
Date of Birth/Age : |
03.06.1964 |
|
Qualification : |
B.E. (Chemical Engineer) |
|
Date of Appointment : |
10.09.2009 |
|
DIN No.: |
00021965 |
|
|
|
|
Name : |
Mrs. Saroj Kumar Poddar |
|
Designation : |
Director |
|
Date of Birth/Age : |
15.09.1945 |
|
Qualification : |
B.Com (Hons) |
|
Date of Appointment : |
20.05.2011 |
|
DIN No.: |
00008654 |
|
|
|
|
Name : |
Mr. Jayant Narayan Godbole |
|
Designation : |
Director |
|
Date of Birth/Age : |
17.02.1945 |
|
Qualification : |
B.E. (Hons), M.Sc |
|
Date of Appointment : |
20.05.2011 |
|
DIN No.: |
00056830 |
|
|
|
|
Name : |
Mr. Harbachan Singh Bawa |
|
Designation : |
Director |
|
Address : |
D - 4/18, Krishna Nagar, |
|
Date of Birth/Age : |
20.03.1931 |
|
Qualification : |
M.S. (Chemical Engineering) |
|
Date of Appointment : |
20.05.2011 |
|
DIN No.: |
00244222 |
|
|
|
|
Name : |
Mr. Marco Philippus Ardeshir Wadia |
|
Designation : |
Director |
|
Date of Birth/Age : |
30.01.1956 |
|
Qualification : |
B.A. (Hons), L.L.B |
|
Date of Appointment : |
20.05.2011 |
|
DIN No.: |
00244357 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 12.05.2011
|
Names of Shareholders |
|
No. of Shares |
|
Zuari Industries Limited jointly with Mr. Naveen Kapoor |
|
10 |
|
Zuari Industries Limited jointly with Mr. Binayak Datta |
|
10 |
|
Zuari Industries Limited jointly with Mr. B. K. Kinekar |
|
10 |
|
Zuari Industries Limited jointly with Mr. R.Y. Patil |
|
10 |
|
Zuari Industries Limited jointly with Mr. B.V. Patil |
|
10 |
|
Zuari Industries Limited jointly with Mr. H.C. Shah |
|
10 |
|
Zuari Industries Limited jointly with Mr. N.M. Kantak |
|
10 |
|
Zuari Industries Limited, |
|
1999930 |
|
Total |
|
2000000 |
After 20.05.2011
|
Names of Allottees |
|
No. of Shares |
|
Zuari Industries Limited, |
|
6411601 |
|
Zuari Management Services Limited, |
|
4205801 |
|
Total |
|
10617402 |
AS ON 12.05.2011
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Bodies corporate |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Saler of fertilisers and other related products. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by Management. |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
V. Sankar Aiyar and Company Chartered Accountants |
|
Address : |
Flat No. 202, 203 & 301, Satyam Cinema Complex, Ranjit Nagar
Community Centre, |
|
Tel. No.: |
91-11-25702074/ 25702691/ 25704639 / 25705233 |
|
Fax No.: |
91-11-25705010 / 25705232 |
|
E-Mail : |
|
|
PAN No.: |
AAAFV0781D |
|
|
|
|
Holding Company: |
Zuari Industries Limited CIN No.: L65921GA1967PLC000157 |
|
|
|
|
Ultimate Holding
Company: |
Zuari Investments Limited CIN No.: U65993GA1995PLC001942 |
|
|
|
|
Group Company: |
|
|
|
|
|
Joint Ventures: |
|
CAPITAL STRUCTURE
(AS ON 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12618000 |
Equity Shares |
Rs.10/- each |
Rs. 126.180 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000
Millions |
|
|
|
|
|
Note:
The above shares are held by Zuari Industries Limited, the holding company
and its nominees, since 10th March, 2011 previously held by Zuari Investments
Limited
AFTER 12.05.2011
Authorised Capital : Rs. 420.580
Millions
Issued, Subscribed & Paid-up Capital : Rs. 420.580 Millions
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
20.000 |
0.500 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
(0.297) |
(0.269) |
|
|
NETWORTH |
|
19.703 |
0.231 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
19.703 |
0.231 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.000 |
0.000 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
|
19.736 |
0.509 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
19.736 |
0.509 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
0.000 |
0.259 |
|
|
Other Current Liabilities |
|
0.033 |
0.019 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
0.033 |
0.278 |
|
|
Net Current Assets |
|
19.703 |
0.231 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
19.703 |
0.231 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
0.000 |
0.000 |
|
|
|
Other Income |
|
0.019 |
0.000 |
|
|
|
TOTAL (A) |
|
0.019 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
|
0.000 |
0.000 |
|
|
|
Manufacturing service costs |
|
0.000 |
0.000 |
|
|
|
Employee related expenses |
|
0.000 |
0.000 |
|
|
|
Administrative selling other expenses |
|
0.047 |
0.269 |
|
|
|
TOTAL (B) |
|
0.047 |
0.269 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
(0.028) |
(0.269) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
(0.028) |
(0.269) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
(0.028) |
(0.269) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
(0.269) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
(0.297) |
(0.269) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
(0.01) |
(5.37) |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
|
(147.37) |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(0.14) |
(52.85) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
(0.00) |
(1.16) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
0.00 |
1.20 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
598.06 |
1.83 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
|
(Rs.
In Millions) 31.03.2011 |
(Rs.
In Millions) 31.03.2010 |
|
Creditors due small micro enterprises - Zuari Industries Limited - Zuari Investments Limited |
|
0.000 0.000 |
0.011 0.248 |
|
Creditors due others |
|
0.000 |
0.019 |
|
Total |
|
0.000 |
0.278 |
|
Check list by info
Agents |
Available in Report (Yes/ No) |
|
Year of Establishment |
Yes |
|
Locality of the Firm |
Yes |
|
Constitution of the Firm |
Yes |
|
Premises details |
No |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoter’s Background |
Yes |
|
No. of Employees |
No |
|
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 in the business |
Yes |
|
Details of sister concerns |
Yes |
|
Major Suppliers |
Yes |
|
Major Customers |
No |
|
Payments Terms |
No |
|
Export/ Imports Details (If applicable) |
No |
|
Market Information |
---------- |
|
Litigations that the firm/ Promoters Involved in |
---------- |
|
Banking details |
No |
|
Banking Facility Details |
No |
|
Conduct of the Banking Account |
---------- |
|
Buyer visit details |
---------- |
|
Financials, if provided |
Yes |
|
Incorporation details is applicable |
Yes |
|
Last Accounts filed at ROC |
Yes |
|
Major Shareholders, if available |
Yes |
FINANCIAL RESULTS:
The Company has yet to commence its operation. During the period no foreign exchange earnings and outgo transactions
have been made.
AS PER WEBSITE DETAILS
PROFILE
As a company dedicated to partnering for prosperity with the
Indian farmer, Zuari’s operations are spread across five key marketing areas.
The company has a manufacturing facility at
The wide variety and reach of the group’s companies has enabled Zuari to diversify into several related and unrelated sectors. Today, Zuari has established itself as a key brand in sectors such as furniture, oil tanking, seeds, and investments, apart from agricultural inputs.
The success of Zuari is credited to the dynamic team that helms the company. The eminent board of directors supported by a team of executives and staff members ensures that the Zuari family constantly grows towards its vision of prosperity for the Indian farmer.
ZUARI GROUP COMPANIES
The Zuari Group of companies has operations that span the entire range of agri-inputs manufacturing and delivery. The company has diversified into a number of related and non-related industries, from oil tanking to furniture. This forward and backward integration has enabled Zuari to deliver quality products at competitive prices to the end consumer repeatedly. The Zuari Group is made up of both subsidiary and joint venture companies.
Zuari subsidiary companies include Indian Furniture Products
Limited, Zuari Seeds Limited, Simon India Limited, Zuari Infrastructure and
Developers Limited, and Zuari Developers Private Limited. The joint venture
companies of Zuari are Zuari Investments Limited, Zuari Indian Oil Tanking
Limited, Zuari Maroc Phosphates Limited and Zuari Rotem Speciality Fertilizer
Limited.
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. 55.79 |
|
|
1 |
Rs. 86.37 |
|
Euro |
1 |
Rs. 70.07 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
ACH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
26 |
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.