MIRA
INFORM REPORT
|
Report Date : |
27.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
NOVA AGRITECH PRIVATE LIMITED |
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Registered
Office : |
Plot No.5, 2nd Floor, MJR Residency, Vittal Nagar,
Chinatokatta, New Bowenpally, Secunderabad – 500011, Andhra Pradesh |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
09.05.2007 |
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Com. Reg. No.: |
01-053901 |
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Capital
Investment / Paid-up Capital : |
Rs.2.485 millions |
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CIN No.: [Company Identification
No.] |
U01119AP2007PTC053901 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
HYDN03210E HYDN03585B |
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PAN No.: [Permanent Account No.] |
AAGFN3316G AACCN8771A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Agriculture Chemicals. |
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No. of Employees
: |
40 (Approximately) |
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 |
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Maximum Credit Limit : |
USD 84000 |
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Status : |
Satisfactory |
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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 for business dealings at usual trade 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 |
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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
|
Name : |
Mr. Kalyana |
|
Designation : |
Director |
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Contact No.: |
91-8121678999 |
|
Date : |
22.05.2012 |
LOCATIONS
|
Registered Office : |
Plot No.5, 2nd Floor, MJR Residency, Vittal Nagar, Chinatokatta,
New Bowenpally, Secunderabad – 500011, Andhra Pradesh, India |
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Tel. No.: |
91-40-27957082 |
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Mobile No.: |
91-8121678999 (Mr. Kalyana) 91-9177985789 (Mr.Ashok) |
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Fax No.: |
91-40-27957081 |
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E-Mail : |
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Website : |
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Area : |
5000 Sq.ft |
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Location : |
Rented |
DIRECTORS
As on 30.09.2011
|
Name : |
Mrs. Sambasivarao Yeluri |
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Designation : |
Director |
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Address : |
3-1-131, Vidhya Nagarcolony, Chunchupalle, Kothagundem, Khammam
District, Andhra Pradesh, India |
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Date of Birth/Age : |
10.07.1977 |
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Date of Appointment : |
19.05.2007 |
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DIN No.: |
02311336 |
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Other
directorship:
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Name : |
Mr. Kalyana Chakravarthy Bodduluri |
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Designation : |
Director |
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Address : |
H. No5-57, Venkateswara Nagar, Kurunool Road, Ongole, Prakasam -
523002, Andhra Pradesh, India |
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Date of Birth/Age : |
19.09.1980 |
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Date of Appointment : |
19.05.2007 |
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DIN No.: |
02311360 |
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Other
directorship:
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Name : |
Mr. Malathi Siripurapu |
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Designation : |
Director |
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Address : |
Plot No.3, Jaya Nagar, New Bowenpally, Secunderabad, Andhra Pradesh,
India |
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Date of Birth/Age : |
10.02.1979 |
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Date of Appointment : |
10.07.2011 |
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DIN No.: |
03033944 |
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Other
directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
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Sambasivarao Yeluri |
|
114000 |
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Kalyana Chakravarthy BoddulurI |
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21000 |
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Malathi Siripurapu |
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30000 |
|
Surekha Agri Reatails India Private Limited |
|
83500 |
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Total |
|
248500 |
List of Allottees (As on31.03.2012)
|
Names of Allottees |
|
No. of Shares |
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Lalitha Bai |
|
4000 |
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Majudevi Agarwal |
|
4000 |
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Murlidhar Kumar |
|
4000 |
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Sri Hari Gaddam |
|
4000 |
|
Sudhakar Hupale |
|
4000 |
|
Neeraj Sharma |
|
4000 |
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Balram Nigadale |
|
4000 |
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Pavan Kumar Sharma |
|
4000 |
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Shiv Kumar |
|
4000 |
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Prashant Kumar |
|
4000 |
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Total |
|
40000 |
As on As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
33.60 |
|
Directors or relatives of Directors |
66.40 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Agriculture Chemicals. |
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Imports : |
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Products : |
Finished Goods |
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Countries : |
China |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers and End Users
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No. of Employees : |
40 (Approximately) |
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Bankers : |
·
Corporation Bank, 220, Gun Rock Enclave, Sikh
Road, Mano Vikas Nagar, Bowenpally, Secunderabad - 500009, Andhra Pradesh,
India ·
State Bank of India, Secunderabad, Andhra
Pradesh, India ·
HDFC Bank, Secunderabad, Andhra Pradesh, India ·
HDFC
Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel (W), Mumbai –
400013, Maharashtra, India ·
ICICI
Bank ·
Union
Bank of India ·
ING
Vysya Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Abhishek K and Associates Chartered Accountant |
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Address : |
# 4-1-970, Shop No. 13, Surabhi Shraddha, Opposite Santosh Sapna
Theatre Lane, Tilak Road, Abids, Hyderabad – 500001, Andhra Pradesh, India |
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Tel. No.: |
91-40-32998828 |
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Mobile No.: |
91-9346496491 91-9533388876 |
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PAN.: |
AKIPK0550B |
CAPITAL STRUCTURE
After As on
30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
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|
288500 |
Equity Shares |
Rs.10/- each |
Rs.2.885 millions |
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As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
248500 |
Equity Shares |
Rs.10/- each |
Rs.2.485
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
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SHAREHOLDERS FUNDS |
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|
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1] Share Capital |
2.485 |
2.485 |
0.100 |
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2] Share Application Money |
3.100 |
0.100 |
1.250 |
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3] Reserves & Surplus |
15.495 |
11.969 |
1.901 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
21.080 |
14.554 |
3.251 |
|
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LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
7.146 |
2.760 |
0.372 |
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2] Unsecured Loans |
7.241 |
3.981 |
4.012 |
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TOTAL BORROWING |
14.387 |
6.741 |
4.384 |
|
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DEFERRED TAX LIABILITIES |
0.000 |
0.025 |
0.000 |
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TOTAL |
35.467 |
21.320 |
7.635 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
10.527 |
7.761 |
0.737 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.129 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.067 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
11.009
|
3.045 |
2.928 |
|
|
Sundry Debtors |
67.845
|
28.827 |
19.408 |
|
|
Cash & Bank Balances |
4.012
|
1.139 |
0.773 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
7.838
|
2.962 |
1.323 |
|
Total
Current Assets |
90.704
|
35.973 |
24.432 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
61.499
|
19.817 |
15.849 |
|
|
Other Current Liabilities |
4.502
|
2.651 |
1.411 |
|
|
Provisions |
0.000
|
0.000 |
0.286 |
|
Total
Current Liabilities |
66.001
|
22.468 |
17.546 |
|
|
Net Current Assets |
24.703
|
13.505 |
6.886 |
|
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|
MISCELLANEOUS EXPENSES |
0.041 |
0.054 |
0.012 |
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|
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TOTAL |
35.467 |
21.320 |
7.635 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
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SALES |
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Income |
|
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|
|
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Other Income |
|
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|
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TOTAL |
225.582 |
122.307 |
59.037 |
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Less |
EXPENSES |
|
|
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|
|
|
|
Office Expenses |
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Administrative Expenses |
|
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Advertising Expenses |
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|
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TOTAL |
221.325 |
119.244 |
56.924 |
|
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PROFIT BEFORE
TAX |
4.257 |
3.063 |
2.113 |
|
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|
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Less |
TAX |
0.731 |
0.511 |
0.287 |
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PROFIT AFTER TAX
|
3.526 |
2.552 |
1.826 |
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Earnings Per
Share (Rs.) |
14.19 |
Na
|
Na
|
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|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
250.000 |
|
|
|
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|
Expected Sales (2012-2013): Rs.290.000 millions
The above information has been parted by Mr. Kalyan.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.56
|
2.08 |
3.09 |
|
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|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.21
|
7.00 |
8.40 |
|
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|
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Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.21 |
0.65 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.81
|
0.63 |
6.75 |
|
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|
|
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|
Current Ratio (Current Asset/Current Liability) |
|
1.37
|
1.60 |
1.39 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
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7) Promoter’s background |
Yes |
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8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
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11) Turnover of firm for last three years |
Yes |
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12) Profitability for last three years |
Yes |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
Yes |
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16) Details of sister concerns |
No |
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17) Major suppliers |
No |
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18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
No |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
NOTE:
The Registered Office of the company has been shifted from Plot No. 61/A,
H.No. 8-7-168/1, Hal Colonu Old
Bowenpally, Secunderabad- 500011, Andhra Pradesh, India to the present address w.e.f.01.07.2011.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U01119AP2007PTC053901 |
|
Name of the
company |
NOVA AGRITECH
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No.5, 2nd Floor, MJR Residency, Vittal Nagar, Chinatokatta,
New Bowenpally, Secunderabad – 500011, Andhra Pradesh, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10223931 |
|
Type of charge |
· Book debts · Movable property (not being pledge) ·
Floating charge |
|
Particular of
charge holder |
HDFC Bank
Limited, Hdfc Bank Housesenapati Bapat Marg, Lower Parel (W), Mumbai –
400013, Maharashtra, India |
|
Nature of
instrument creating charge |
Supplementary
Letter of Hypothecation. |
|
Date of instrument
Creating the charge |
28.10.2010 |
|
Amount secured by
the charge |
Rs.9.000 millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest at the rate
as may be communicated by the Bank from time to time. Terms of Repayment On Demand Margin As may be
stipulated by the Bank from time to time. Extent and Operation of the charge Hypothecation by way
of First Charge on Company's Stock in Trade, Book Debts, Plant and Machinery
and Vehicles, etc., to secure as a continuing security as mentioned in Column
No.15 below for the repayment of Rs.9.000 millions together with interest,
costs, charges, expenses and other moneys due and payable by the Company to
the Bank Others NIL |
|
Short particulars
of the property charged |
Stock in Trade,
consisting of raw materials, goods in process of manufacturing finished
goods, and other merchandise whatsoever being movable properties All the
debts, that is, all the book debts, outstanding, monies receivables,
claims, bills, invoice documents,
contracts, guarantees, and rights The movable plant and machinery, vehicles,
which may now or at any time hereafter belonging to the Borrower or come to
the Borrower’s disposal |
|
Particulars of
the present modification |
The Charge shall
now stand increased from Rs.5.000 millions to Rs.9.000 millions against the
security of Stock in Trade, Book Debts, Plant and Machinery and Vehicles of
the Company. |
FIXED ASSETS
· Land and Building
· Trade Mark
· Air conditioner
·
Computer and Printer
· Furniture and fixture
·
Electrical Equipment
·
Indigo Car
·
Mahindra Max Vehicles
·
Mahindra Bolero
·
Toyota Innova
·
Mobile Phones
·
Lab Equipment
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.57.07 |
|
|
1 |
Rs.88.96 |
|
Euro |
1 |
Rs.71.40 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
DPK |
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.