|
Report Date : |
01.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
ASPEN PROJECTS INDIA LIMITED |
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Registered
Office : |
16/7/2B, Keyatala Road, Kolkata-700029, West Bengal |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
09.03.2009 |
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Com. Reg. No.: |
21-133653 |
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Capital
Investment / Paid-up Capital : |
Rs.0.500 Million |
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CIN No.: [Company Identification
No.] |
U45400WB2009PLC133653 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CALA12443E |
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PAN No.: [Permanent Account No.] |
AAHCA8287D |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Supplier of Mustard Oil, Edible Oils, Corn, Poultry Feed, Tea, Agriculture Product, Food Beavarege and Bio
Chemical, etc. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 22000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new company having moderate track. Trade
relations are reported as fair. Business is active. Payments are reported to be
slow but correct. The company can be considered for business dealings with some
cautions. |
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) |
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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 |
LOCATIONS
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Registered / Corporate Office : |
16/7/2B, Keyatala Road, Kolkata-700029, West Bengal, India |
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Tel. No.: |
91-33-32012768/24198003 |
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Fax No.: |
91-33-24198002 |
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E-Mail : |
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Branch Office : |
Located At: ·
Arambagh ·
Adra ·
Asansol ·
Alipurduar ·
Banarhat ·
Basirhat ·
Bishnupur ·
Bhubaneswar ·
Balasore ·
Balurghat ·
Burdwan ·
Contai ·
Coochbehar ·
Dhanbad ·
Durgapur ·
Diamond Harbour ·
Dinhata ·
Gorakhpur ·
Ghatal ·
Guwahati ·
Jamtara(Jharkhand) ·
Kolkata ·
Khatra ·
Kalna ·
Kotalpur ·
Malda ·
Purulia ·
Ranchi ·
Ramgarh ·
Siliguri ·
Sonamukhi ·
Sonarpur ·
Suri ·
Silchar ·
Tarakeswar |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Bhaskar Madhab Chandra Saha |
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Designation : |
Managing Director |
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Address : |
42, Ballygunge Place, Kolkata-700019, West Bengal, India |
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Date of Birth/Age : |
01.01.1970 |
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Date of Appointment : |
09.03.2009 |
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Din No.: |
02531517 |
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Other Directorship:
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Name : |
Mr. Avijit Kumar Ganguly |
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Designation : |
Director |
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Address : |
Ramsita Lane, Halisahar-743134, West Bengal, India |
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Date of Appointment : |
03.11.2009 |
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Din No.: |
02575466 |
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Other Directorship:
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Name : |
Ashim Arunendru Maitra |
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Designation : |
Director |
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Address : |
47/A, Moore Avenue, Pearl Apartment, 4th Floor, Opposite
Abhinandan Marriage Hall, Kolkata-700040, West Bengal, India |
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Date of Birth/Age : |
22.11.1973 |
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Date of Appointment : |
09.03.2009 |
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Din No.: |
02532064 |
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Other Directorship:
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Name : |
Mr. Abhijit Niharendu Dasgupta |
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Designation : |
Director |
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Address : |
Talpukur, Ward 101, Jadavpur, South 24-Parganas, Kolkata-700032, West
Bengal, India |
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Date of Birth/Age : |
15.11.1967 |
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Date of Appointment : |
09.03.2009 |
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Din No.: |
02475280 |
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Other Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Bhaskar Madhab Chandra Saha |
|
10000 |
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Ashim Arunendru Maitra |
|
10000 |
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Abhijit Niharendu Dasgupta |
|
10000 |
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Debopam Sur |
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4500 |
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Avijit Kumar Ganguly |
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4500 |
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Goutam Sarkar |
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1000 |
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Ujjal Roy |
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10000 |
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Total |
|
50000 |
AS ON 30.09.2010
|
Equity Share Breakup |
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Percentage of Holding |
|
Category |
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Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Supplier of Mustard Oil, Edible Oils, Corn, Poultry Feed, Tea, Agriculture Product, Food Beavarege and Bio
Chemical, etc. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
Axis Bank ·
Bank of Baroda ·
ICICI Bank Limited ·
Punjab Bank of India ·
State Bank of India |
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Facilities : |
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Banking
Relations : |
-- |
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Financial
Institution: |
Trustees of Secured Debentures Trust, Ramsita Lane, Halisahar-743134,
West Bengal, India |
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Auditors : |
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Name : |
C. Ghatak and Company Chartered Accountants |
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Address : |
107, N.S.C. Bose Road, Kolkata-700040, West Bengal, India |
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Pan No.: |
AADFC9771D |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
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|
SHAREHOLDERS FUNDS |
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1] Share Capital |
|
0.500 |
0.500 |
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2] Share Application Money |
|
4.500 |
0.000 |
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3] Reserves & Surplus |
|
0.711 |
0.000 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
5.711 |
0.500 |
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LOAN FUNDS |
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1] Secured Loans |
|
13.342 |
0.000 |
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2] Unsecured Loans |
|
0.322 |
0.000 |
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TOTAL BORROWING |
|
13.664 |
0.000 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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TOTAL |
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19.375 |
0.500 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
1.598 |
0.072 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
2.541 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.629 |
0.000 |
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Sundry Debtors |
|
0.050 |
0.000 |
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Cash & Bank Balances |
|
8.257 |
0.229 |
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Other Current Assets |
|
0.000 |
0.000 |
|
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Loans & Advances |
|
14.878 |
0.130 |
|
Total
Current Assets |
|
23.814 |
0.359 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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Sundry Creditors |
|
0.582 |
0.005 |
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Other Current Liabilities |
|
7.663 |
0.000 |
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Provisions |
|
0.400 |
0.000 |
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Total
Current Liabilities |
|
8.645 |
0.005 |
|
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Net Current Assets |
|
15.169 |
0.354 |
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MISCELLANEOUS EXPENSES |
|
0.067 |
0.074 |
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TOTAL |
|
19.375 |
0.500 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2010 |
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SALES |
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Income |
|
|
8.851 |
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Other Income |
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|
7.627 |
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TOTAL |
|
|
16.478 |
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|
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|
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Less |
EXPENSES |
|
|
|
|
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|
|
Purchase |
|
|
8.976 |
|
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Office and Administration Expenses |
|
|
6.745 |
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Increase / Decrease in Stocks |
|
|
(0.629) |
|
|
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TOTAL |
|
|
15.092 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
1.386 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
0.276 |
|
|
|
|
|
|
|
|
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|
PROFIT BEFORE
TAX |
|
|
1.110 |
|
|
|
|
|
|
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Less |
TAX |
|
|
0.399 |
|
|
|
|
|
|
|
|
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|
PROFIT AFTER TAX
|
|
|
0.711 |
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|
|
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
|
0.000 |
|
|
|
|
|
|
|
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|
BALANCE CARRIED
TO THE B/S |
|
|
0.711 |
|
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|
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|
|
|
|
|
Earnings Per Share
(Rs.) |
|
|
14.22 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
|
4.31 |
NA |
|
|
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|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
12.54 |
NA |
|
|
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|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
4.37 |
NA |
|
|
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.19 |
NA |
|
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|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
|
3.91 |
0.01 |
|
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|
|
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|
Current Ratio (Current Asset/Current Liability) |
|
|
2.75 |
71.80 |
LOCAL AGENCY FURTHER INFORMATION
FIXED ASSETS:
·
AC Machine
·
Computer
·
Furniture and Fixtures
·
Office Equipments
WEBSITE DETAILS:
PROFILE:
They aspire to endeavor into a variety of enlivening projects that
include development of packaging products like
spices, Pulses, aloe vera juice, processed food products and organic products
meant for direct and third country
supplies. It would be worth mentioning here that they are in joint ventures
with different European and Gulf countries, either having a buyer-seller
relation or a buy back system. There is a huge prospect of growth and
development in this area. Since an organization grows by virtue of the
customers and adaptability to market changes, their group also aims to
establish a multi agro food industry.
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.48.94 |
|
|
1 |
Rs.77.95 |
|
Euro |
1 |
Rs.65.943 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
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 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
28 |
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.