MIRA
INFORM REPORT
|
Report Date : |
01.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHREE GANESH
FROZEN FOODS PRIVATE LIMITED |
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Registered
Office : |
B-5, Plot No.5, Gupta
Arcade, Srestha Vihar, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
10.06.2002 |
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Com. Reg. No.: |
55-115742 |
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Capital
Investment / Paid-up Capital : |
Rs.16.432
millions |
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CIN No.: [Company Identification
No.] |
U15209DL2002PTC115742 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELS17105E |
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PAN No.: [Permanent Account No.] |
AAGCS6442M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Frozen Fruits and Vegetables.
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No. of Employees
: |
35 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
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 91000 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The current
year financial is missing from Government Department. However, trade relations
are reported to be fair. Business is active. Payments are reported to be
unknown. The company can be considered for business dealings 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Manoj Goyal |
|
Designation : |
Director |
|
Contact No.: |
91-9810178949 |
|
Date : |
31.10.2012 |
LOCATIONS
|
Registered Office : |
B-5, Plot No.5,
Gupta Arcade, Srestha Vihar, |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9818921260 (Mr. Amit Goyal) 91-9810178949 (Mr. Manoj Goyal) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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|
Area : |
500 sq ft |
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Location : |
Owned |
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|
|
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Corporate Office : |
C-134 K,
Surya Nagar, |
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Tel. No.: |
91-120-4133310 |
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Fax No.: |
91-120-4133310 |
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|
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Factory : |
D-17, Site - B, Surajpur Industrial Area, Greater Noida – 201 306, |
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Area : |
25000 sq ft |
|
Location : |
Owned |
DIRECTORS
As on 10.09.2011
|
Name : |
Mr. Amit Goyal |
|
Designation : |
Director |
|
Address : |
C-134 K,
Surya Nagar, |
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Date of Birth/Age : |
11.06.1978 |
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Date of Appointment : |
10.06.2002 |
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DIN No.: |
00339035 |
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|
|
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Name : |
Mr. Manoj Goyal |
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Designation : |
Director |
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Address : |
C-134 K,
Surya Nagar, |
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Date of Birth/Age : |
01.08.1975 |
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Date of Appointment : |
10.05.2005 |
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DIN No.: |
00339263 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2011
|
Names of Shareholders |
|
No. of Shares |
|
Amit Goyal |
|
496500 |
|
Santosh Goyal |
|
367600 |
|
Manoj Goyal |
|
324600 |
|
|
|
96500 |
|
Goyal Bristle |
|
203000 |
|
Subhash Goyal |
|
105000 |
|
Anshul Goyal |
|
50000 |
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Total |
|
1643200 |
As on 10.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
81.77 |
|
Others
|
|
18.23 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Frozen Fruits and Vegetables.
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Products : |
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Exports : |
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Products : |
Frozen Fruits and Vegetables |
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Countries : |
v
UAE v
Gulf Countries v
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
v
Gupta Generators and Company v
v
L E Carriers Private Limited v
Rajesh Marketing Company v
Sandeep Flexo Printers v
Shiv Sai Gas Agency v
Temptation Foods Limited v
v
v
Sheetal Dawar Orchards v
Ch. Karan Singh and Company v
Triton Cold Chanin |
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Customers : |
Wholesalers, Retailers and Corporate v
Surya Herbal Limited v
Sharad Purnima Ent. v
Basic Ayurved v
Bio Life v
Lloyd Industries v
Devyani Foods Industry v
Mapro Foods Private Limited |
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No. of Employees : |
35 (Approximately) |
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Bankers : |
v Indian Overseas
Bank, F-47, v Punjab National
Bank, SME Patparganj Branch, 372, Patparganj Industrial Area, New Delhi – 110
092, India v HDFC Bank
Limited v ICICI Bank
Limited |
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Facilities : |
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Banking Relations
: |
-- |
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Auditors : |
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|
Name : |
Anil Archit Khanna and Company Chartered Accountants |
|
Address : |
664, Aggarwal Chamber-III, Shakarpur, |
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Tel. No.: |
91-11-22026811 |
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Mobile No.: |
91-9899719099 |
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Income-tax
PAN of auditor or auditor's firm : |
AAOPK9048E |
CAPITAL STRUCTURE
As on 10.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1643200 |
Equity Shares |
Rs.10/- each |
Rs.16.432
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 |
16.432 |
16.432 |
16.432 |
|
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
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3] Reserves & Surplus |
6.203 |
5.758 |
5.119 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
22.635 |
22.190 |
21.551 |
|
|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
39.054 |
38.675 |
28.639 |
|
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2] Unsecured Loans |
1.540 |
15.000 |
3.972 |
|
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TOTAL BORROWING |
40.594 |
53.675 |
32.611 |
|
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DEFERRED TAX LIABILITIES |
0.131 |
0.131 |
0.000 |
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|
|
|
|
|
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TOTAL |
63.360 |
75.996 |
54.162 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
19.970 |
22.416 |
25.120 |
|
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
|
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DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
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|
Inventories |
54.078
|
52.256 |
28.338 |
|
|
Sundry Debtors |
1.741
|
1.354 |
1.453 |
|
|
Cash & Bank Balances |
0.051
|
0.044 |
0.097 |
|
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Other Current Assets |
0.826
|
1.372 |
0.598 |
|
|
Loans & Advances |
0.934
|
1.455 |
0.717 |
|
Total
Current Assets |
57.630
|
56.481 |
31.203 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
12.051
|
0.867 |
1.664 |
|
|
Other Current Liabilities |
1.529
|
1.610 |
0.000 |
|
|
Provisions |
0.689
|
0.667 |
0.554 |
|
Total
Current Liabilities |
14.269
|
3.144 |
2.218 |
|
|
Net Current Assets |
43.361
|
53.337 |
28.985 |
|
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|
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|
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MISCELLANEOUS EXPENSES |
0.029 |
0.243 |
0.057 |
|
|
|
|
|
|
|
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TOTAL |
63.360 |
75.996 |
54.162 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
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SALES |
|
|
|
|
|
|
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Income |
217.849 |
192.932 |
174.291 |
|
|
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Other Income |
NA |
NA |
NA |
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TOTAL |
NA |
NA |
NA |
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|
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EXPENSES |
|
|
|
|
|
|
|
|
220.471 |
NA |
176.043 |
|
|
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Administrative Expenses |
|
|
|
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Advertising Expenses |
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TOTAL |
220.471 |
NA |
176.043 |
|
|
|
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|
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|
PROFIT BEFORE
TAX |
2.983 |
NA |
1.290 |
|
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Less |
TAX |
2.538 |
NA |
NA |
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PROFIT AFTER TAX
|
0.445 |
0.770 |
NA |
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Earnings Per
Share (Rs.) |
0.27 |
0.47 |
NA |
|
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Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
220.000 |
|
|
|
|
|
Expected Sales (2012-2013): Rs.240.000 millions
The above information has been parted by Mr. Manoj Goyal (Director).
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
1.37
|
NA |
0.74 |
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.84
|
NA |
2.29 |
|
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|
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|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
NA |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.42
|
2.56 |
1.62 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.04
|
17.96 |
14.07 |
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 |
|
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 |
|
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 |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
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17) Major suppliers |
Yes |
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18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if
applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
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 |
|
31)
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32)
PAN of Proprietor/Partner/Director, if available |
No |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
No |
FINANCIAL RESULTS:
Company has been engage
in the business of processing of Vegetable and Fruits. During the year the
Turnover of the Company is reach to Rs.217.800 millions with the Profit of Rs
0.445 million. Moreover, in the upcoming time, there is also good sign for
foods Industry in
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U15209DL2002PTC115742 |
|
Name of the
company |
SHREE GANESH FROZEN
FOODS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
B-5, Plot No.5,
Gupta Arcade, Srestha Vihar, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10158100 |
|
Type of charge |
Book Debts Movable Property
(not being pledge) |
|
Particular of
charge holder |
Punjab National Bank, SME Patparganj Branch, 372, Patparganj
Industrial Area, New Delhi – 110 092, India E-Mail: bo4904@pnb.co.in |
|
Nature of description
of the instrument creating or modifying the charge |
Hypothecation of
goods and book debts to secure cash credit facility Hypothecation of
moveable assets forming part of Fixed/ Block assets Agreement for
loan/ cash credit/ overdraft Sanction Letter |
|
Date of
instrument Creating the charge |
11.03.2011 |
|
Amount secured by
the charge |
Rs.40.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Base Rate + 4.5%
p.a. Terms of
Repayment: Payable on demand Margin: 25% for Stock and
40% on Receivables Extent and
Operation of the charge: 100% Others: Stock valuation
will be lower of invoice or market price. No DP of more than 90 days shall be
allowed. Monthly stock
statement is required to be submitted within ten days of next month. Insurance for
100% of the value covering the risk of fire, SRCC (Strike, riots, civil
commotion) earthquake, terrorist risks, floods, riots, theft/burglary etc. |
|
Short particulars
of the property charged |
Hypothecation of
Stocks and Book Debts As per agreement
and sanction letter |
|
Date of latest
modification prior to the present modification |
16.12.2010 |
|
Particulars of
the present modification |
After
modification the Cash Credit limit has been increased to Rs.40.000 millions. |
FIXED ASSETS:
v
Building
v
Land
v
Furniture and Fixtures
v
Plant and Machinery
v
Vehicles
v
v
Office Equipment
v
Computers
v
Generator
v
Inverter
TRADE REFERENCES:
v
Mapro Foods Private Limited
v
Ch. Karan Singh and Company
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 prohibitd 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.54.12 |
|
|
1 |
Rs.87.07 |
|
Euro |
1 |
Rs.70.15 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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.