MIRA INFORM REPORT

 

 

Report Date :

24.05.2012

 

IDENTIFICATION DETAILS

 

Name :

SUBASRI MARKETING PRIVATE LIMITED

 

 

Registered Office :

No. 8, Everest Apartment, 8th Main Malleswaram, Bangalore – 560003, Karnataka

 

 

Country :

India

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

21.04.1999

 

 

Com. Reg. No.:

08-025090

 

 

Capital Investment / Paid-up Capital :

Rs.2.063 Millions

 

 

CIN No.:

[Company Identification No.]

U52397KA1999PTC025090

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

BLRS12478E / BLRS40013B

 

 

PAN No.:

[Permanent Account No.]

AAFC2691R

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trader and Exporter of Agro Commodities. 

 

 

No. of Employees :

25 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (44)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 28000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

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 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)

India

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. Venkata Subramanian Parameswaran 

Designation :

Director

Contact No.:

91-80-23310970

Date :

22.05.2012

 

 

LOCATIONS

 

Registered Office :

No. 8, Everest Apartment, 8th Main Malleswaram, Bangalore – 560003, Karnataka, India

Tel. No.:

91-80-23310970

Fax No.:

91-80-23462798

E-Mail :

vparameswaran8@gmail.com

v_ganesg2@hotmail.com

Location :

Owned

 

           

DIRECTORS

 

As on 30.09.2011

 

Name :                                

Mr. Venkata Subramanian Parameswaran 

Designation :

Director

Address :

No. 8, Everest Apartment, 8th Main Malleswaram, Bangalore – 560003, Karnataka, India

Date of Appointment :

21.04.1999

DIN No.:

02492930

 

 

Name :

Mr. Venkateswaran Seethalakshmi

Designation :

Director

Address :

H No.-008, Everest Apartment, 7th Main Malleswaram, Bangalore – 560003, Karnataka, India

Date of Appointment :

21.04.1999

DIN No.:

02649324

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2011

 

Names of Shareholders

 

No. of Shares

Venkata Subramanian Parameswaran 

 

178800

Venkateswaran Seethalakshmi

 

27517

Total

 

206317

 

 

As on 30.09.2011

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Trader and Exporter of Agro Commodities.

 

 

Exports :

 

Products :

Agro Commodities.

Countries :
  • Europe
  • USA

 

 

Terms :

 

Selling :

Cash / Credit

 

 

Purchasing :

Cash / Credit

 

 

GENERAL INFORMATION

 

Suppliers :
  • Akshya Agro Sales Bellary
  • Akshya Agro Sales Gulburga
  • Annapurna Agro Agencies, Belary
  • Akshaya Agro Sales Mysore
  • B   ASP India Limited
  • Brundavan Agro Service Raichur
  • Channabaswveshwar Agencies, Hubli
  • Coromandel Fertilizers Limited
  • Green Life Technologies
  • Gowtham Enterprises, Shimoga
  • HAGREEVA FARMS Private Limited
  • Kamataka Farms Supplies and Ser
  • R H Bio Sciences India Private Limited
  • Janganmatha Enterprises
  • Krishana Chaitanya Sindanur
  • M S R Bio Tech
  • Om Care Corporation
  • Prerana Agro Agn Mysore
  • Patson Ventures Private Limited
  • Prabhakar Agencies, Gangavathi
  • Rasi Seeds Private Limited, Salem
  • Souther Petro Chemicals
  • SPIC Bio tech Limited
  • Sujikars Business Ent Bangalore
  • Sri Shilpa Traders Gangavathi
  • Sri Chamundeswari Traders
  • Syngenta  (India) Limited
  • Vishnu Quartaz Clock
  • Vinayak Traders Bannur
  • Swal Corpn Limited
  • T Stanes and Company Limited
  • V Parameshwaran

 

 

Customers :

Wholesalers

 

 

No. of Employees :

25 (Approximately)

 

 

Bankers :

Bank of India, Karnataka, India

 

 

Facilities :

(Rs. In Millions)

Secured Loan

As on

31.03.2011

As on

31.03.2010

Secured Loan

0.232

0.330

Total

0.232

0.330

Unsecured Loan

As on

31.03.2010

As on

31.03.2009

Unsecured Loan

0.305

0.305

Total

0.305

0.305

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Varadarajan and Company

Chartered Accountants

Address :

No.68, 1st Main Road, CIT Nagar, Nandanam, Chennai – 600035, Tamil Nadu, India

Tel. No.:

91-44-2436124 / 24345774

Fax No.:

91-44-24345774

E-Mail :

varadarjan.co@gmail.com

PAN.:

AACPC2393J

 

 

CAPITAL STRUCTURE

 

As on 31.03.2011

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

250000

Equity Shares

Rs.10/- each

Rs.2.500 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

206317

Equity Shares

Rs.10/- each

Rs.2.063 Millions

 

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2011

31.03.2010

31.03.2009

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

2.063

1.988

1.933

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

5.021

3.202

1.794

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

7.084

5.190

3.727

LOAN FUNDS

 

 

 

1] Secured Loans

0.232

0.330

0.000

2] Unsecured Loans

0.305

0.305

0.305

TOTAL BORROWING

0.537

0.635

0.305

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

7.621

5.825

4.032

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

0.454

0.615

0.177

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.000

0.000

0.000

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
1.102

1.669

2.885

 

Sundry Debtors
15.311

12.912

7.416

 

Cash & Bank Balances
0.272

0.251

0.405

 

Other Current Assets
2.338

1.821

1.142

 

Loans & Advances
1.580

1.094

0.598

Total Current Assets
20.603

17.747

12.446

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
5.529

7.472

4.206

 

Other Current Liabilities
7.067

4.225

4.275

 

Provisions
0.840

0.840

0.110

Total Current Liabilities
13.436

12.537

8.591

Net Current Assets
7.167

5.210

3.855

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

7.621

5.825

4.032

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2011

31.03.2010

31.03.2009

 

 

 

 

 

 

 

Gross Income

75.880

102.431

36.267

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION

1.980

2.154

0.504

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION        

0.161

0.069

0.056

 

 

 

 

 

 

PROFIT BEFORE TAX

1.819

2.085

0.448

 

 

 

 

 

Less

TAX                                                                 

0.000

0.675

0.164

 

 

 

 

 

 

PROFIT AFTER TAX

1.819

1.410

0.284

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

1.819

1.410

0.284

 

 

 

 

 

 

Earnings Per Share (Rs.)

8.82

NA

NA

 

 

Particulars

 

 

 

31.03.2012

Sales Turnover (Approximately)

 

 

100.000

 

The above information has been parted by Mr. Venkata Subramanian Parameswaran. 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2011

31.03.2010

31.03.2009

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
8.64

11.35

3.55

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.26

0.40

0.12

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
1.97

2.54

2.39

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
1.53

1.42

1.45

 

                    

 

 

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

No

5) Type of Business

Yes

6) Line of Business

Yes

7) Promoter’s background

Yes

8) No. of employees

Yes

9) Name of person contacted

Yes

10) Designation of contact person

Yes

11) Turnover of firm for last three years

Yes

12) Profitability for last three years

Yes

13) Reasons for variation <> 20%

--

14) Estimation for coming financial year

No

15) Capital in the business

Yes

16) Details of sister concerns

No

17) Major suppliers

Yes

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

Yes

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

 

Fixed Assets

  • Computer
  • Maruthi Zen
  • Scooter
  • Toyota-Qualis
  • Vehicles
  • Auto APE
  • Furniture and Fittings
  • Mobile
  • UPS
  • Car Hyndai 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.55.93

UK Pound

1

Rs.88.15

Euro

1

Rs.70.88

 

 

INFORMATION DETAILS

 

Information Gathered by :

PDT

 

 

Report Prepared by :

NTH

 

 

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

4

--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

NO

--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

 

44

 

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

-

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.