|
Report Date : |
02.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
VGR FOODTECH AGRO PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
31, Rani Rashmoni Road, Kolkata – 700087, West Bengal |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
21.08.2006 |
|
|
|
|
Com. Reg. No.: |
21-111267 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.4.311 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U01409WB2006PTC111267 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCV5829K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trading of Edible Oil-Saffola, Sunflower, Ruchi Sona etc. |
|
|
|
|
No. of Employees
: |
20 (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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Even though the company was incorporated during August 2006, it has
commenced its business activities during 2011-2012, as per the dated March
2012. It is engaged in the trading of Edible Oil-Saffola, Sunflower, Ruchi
Sona etc. It has recorded minimal turnover during 2012 and has incurred loss
from its operations. The financial strength of the company is below average. However, trade relations are reported as improving. Business is
active. Payment terns are slow. The company can be considered for business dealings with great
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country’s growth, which has averaged more than 7% per
year since 1997. India’s diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India’s output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis – in large part because of strong domestic demand – and growth
exceeded 8% year-on-year in real terms. However, India’s economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government’s fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India’s medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
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. Anup Khetan |
|
Designation : |
Auditor |
|
Contact No.: |
91-33-22364649 |
|
Date : |
30.03.2013 |
LOCATIONS
|
Registered Office : |
31, Rani Rashmoni Road, Kolkata – 700087, West Bengal, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Warehouse : |
F-22, Kendra Food Park, Sankrail, Howrah, West Bengal, India |
DIRECTORS
(AS ON 18.09.2012)
|
Name : |
Mr. Gaurav Jain |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
BF- 209, Salt Lake Sector – 1, Kolkata – 7020064, West Bengal, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
22.10.1981 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
31.08.2006 |
|||||||||||||||||||||||||||
|
PAN No.: |
AEKPJ0192C |
|||||||||||||||||||||||||||
|
DIN No.: |
00574798 |
|||||||||||||||||||||||||||
|
Other Directorship : |
|
|||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mr. Vikas Kumar Jain |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
BF- 209, Salt Lake Sector – 1, Kolkata – 7020064, West Bengal, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
11.10.1956 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
21.08.2006 |
|||||||||||||||||||||||||||
|
PAN No.: |
ACSPJ0010F |
|||||||||||||||||||||||||||
|
DIN No.: |
01112366 |
|||||||||||||||||||||||||||
|
Other Directorship : |
|
|||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mrs. Usha Jain |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
BF- 209, Salt Lake Sector – 1, Kolkata – 7020064, West Bengal, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
02.01.1982 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
21.08.2006 |
|||||||||||||||||||||||||||
|
DIN No.: |
00574772 |
|||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 18.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Vikas Kumar Jain |
|
50500 |
|
Usha Jain |
|
14000 |
|
Gaurav Jain |
|
20100 |
|
Vikas Kumar Jain (HUF) |
|
211400 |
|
Ravishankar A |
|
110000 |
|
Om Prakash Agarwal |
|
15000 |
|
Premlata Agarwal |
|
10000 |
|
Santosh Gupta |
|
100 |
|
|
|
|
|
Total |
|
431100 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
69.00 |
|
Other top fifty shareholders |
|
31.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading of Edible Oil-Saffola, Sunflower, Ruchi Sona etc. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30 days) |
|
|
|
|
Purchasing : |
Cash and Credit (20 days) |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Hotels |
|
|
|
|
No. of Employees : |
20 (Approximately) |
|
|
|
|
Bankers : |
· State Bank of India New Market Branch, Kolkata, West Bengal, India · UCO Bank New Market Branch, 3 and 4 Lindsay Street, Kolkata – 700067, West Bengal, India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A. Khetan and Associates Chartered Accountant |
|
Address : |
1, Chittaranjan Avenue, Kolkata – 700072, West Bengal, India |
|
Tel. No.: |
91-33-22364649/ 22379377/ 40673176 |
|
PAN No.: |
AFPPK2139E |
|
Email : |
|
|
|
|
|
Associates/Subsidiaries : |
· Vikash Kumar and Brothers Line of Business: Trader of Edible Oil. |
CAPITAL STRUCTURE
(AS ON 31.03.2012)
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 |
|
|
|
|
|
|
431100 |
Equity Shares |
Rs.10/- each |
Rs.4.311 Millions |
|
|
|
|
|
Reconciliation of the equity share outstanding at the year end
|
Particulars |
31.03.2012 No of Shares |
|
|
|
|
Shares outstanding at the beginning of the
year |
431100 |
|
Shares outstanding at the end of the year |
431100 |
Terms and Right attached to equity shares
The company has only one class of equity
shares having par value of 10/- per share. Each holders of equity share is entitles
to one vote per share. In the vvant of liquidation of the company, the holder
of equity shares will be entities to receive remaining assets of the company,
after distribution of all preferential amounts. The distribution will be in
proportion to the number of equity shares held by the shareholders.
Equity Shareholders having more than 5% of the holding in equity of the
company
|
Name of the share holder |
As at 31.03.2012 |
|
|
|
No. of Shares |
% of Holding |
|
|
|
|
|
Vikas Kumar Jain (HUF) |
211400 |
49.04% |
|
Vikas Kumar Jain |
50500 |
11.71% |
|
Usha Jain |
14000 |
3.25% |
|
Gaurav Jain |
20100 |
4.66% |
|
Ravi Shankar Agarwal |
110000 |
25.52% |
|
Om Prakash Agarwal |
15000 |
3.48% |
|
Premlata Agarwal |
10000 |
2.32% |
|
Santosh Gupta |
100 |
0.02% |
|
|
|
|
|
Total |
431100 |
100.00% |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
4.311 |
4.311 |
3.461 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.600 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(0.074) |
(0.050) |
(0.050) |
|
|
NETWORTH |
4.237 |
4.261 |
4.011 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
1.150 |
2.372 |
0.000 |
|
|
TOTAL BORROWING |
1.150 |
2.372 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.041 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5.428 |
6.633 |
4.011 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
6.508 |
6.525 |
3.102 |
|
|
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 |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
0.352
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
0.414
|
0.019 |
0.120 |
|
|
Other Current Assets |
0.093
|
0.103 |
0.000 |
|
|
Loans & Advances |
0.073
|
0.027 |
0.754 |
|
Total
Current Assets |
0.932
|
0.149 |
0.874 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
1.951
|
0.000 |
0.000 |
|
|
Other Current Liabilities |
0.057
|
0.041 |
0.045 |
|
|
Provisions |
0.004
|
0.000 |
0.000 |
|
Total
Current Liabilities |
2.012
|
0.041 |
0.045 |
|
|
Net Current Assets |
(1.080)
|
0.108 |
0.829 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.080 |
|
|
|
|
|
|
|
|
TOTAL |
5.428 |
6.633 |
4.011 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
4.348 |
0.000 |
0.000 |
|
|
|
Other Income |
0.240 |
0.000 |
0.000 |
|
|
|
TOTAL (A) |
4.588 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Stock-in-trade |
4.291 |
0.000 |
0.000 |
|
|
|
Changed in Inventory |
0.000 |
0.000 |
0.000 |
|
|
|
Employee Benefit Expenses |
0.063 |
0.000 |
0.000 |
|
|
|
Other Expenses |
0.103 |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
4.457 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
0.131 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.066 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.065 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.044 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
0.021 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.045 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(0.024) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(0.06) |
0.00 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(0.52)
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.48
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.028
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.27
|
0.56 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.46
|
3.63 |
19.42 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm / promoter
involved in |
----- |
|
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 |
|
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 |
------------------------------------------------------------------------------------------------------------------------------
OPERATING STATEMENT
(RS. IN MILLIONS)
|
Particulars |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Estimated) |
(Projected) |
(Projected) |
|
Gross Sales |
|
|
|
|
Capacity Utilisation |
|
|
|
|
|
|
|
|
|
Sales value of Production |
|
|
|
|
- Exports Sales |
71.070 |
100.525 |
120.630 |
|
- Trading Sales |
0.000 |
0.000 |
0.000 |
|
- Other Operating/ Revenue
Income |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Total |
71.070 |
100.525 |
120.630 |
|
|
|
|
|
|
Less: Excise Duty |
-- |
-- |
-- |
|
|
|
|
|
|
Net Sales |
71.070 |
100.525 |
120.630 |
|
|
|
|
|
|
% age rise (+) or fall (-) in net sales a compared
to previous year |
1534.17% |
41.45% |
20.00% |
|
|
|
|
|
|
Cost of Sales |
|
|
|
|
Raw Materials (including
stores and other items used in the process of manufacture) |
|
|
|
|
- Imported |
-- |
-- |
-- |
|
- Indigenous |
67.500 |
98.300 |
114.500 |
|
|
|
|
|
|
Other Spares |
0.000 |
0.000 |
0.000 |
|
Power and Fuel |
0.115 |
0.140 |
0.155 |
|
Direct Labour |
1.050 |
1.260 |
1.290 |
|
Other Variable Costs |
0.075 |
0.106 |
0.110 |
|
Repair and maintenance |
0.000 |
0.000 |
0.000 |
|
Other manufacturing
expenses/ research and development cost |
0.000 |
0.000 |
0.000 |
|
Depreciation |
0.175 |
0.160 |
0.150 |
|
|
|
|
|
|
Sub-Total |
68.915 |
99.966 |
116.205 |
|
|
|
|
|
|
Add: Opening Stock in
process |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Sub Total |
68.915 |
99.966 |
116.205 |
|
|
|
|
|
|
Less: Closing stock in
process |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Sub-Total (Cost of
Production) |
68.915 |
99.966 |
116.205 |
|
|
|
|
|
|
Add: Opening Stock of
Finished Goods |
0.000 |
0.000 |
4.500 |
|
Subtotal |
|
|
|
|
|
68.915 |
99.966 |
120.705 |
|
Less: Closing Stock of
Finished Goods |
|
|
|
|
|
0.000 |
4.500 |
6.000 |
|
Sub-Total (Cost of Sales) |
|
|
|
|
|
68.915 |
95.466 |
114.705 |
|
Gross Profit |
|
|
|
|
Selling, general and
administrative Expenses |
1.066 |
1.508 |
1.750 |
|
Sub-Total |
69.981 |
96.974 |
116.455 |
|
|
|
|
|
|
Operating Profit before
interests |
1.089 |
3.551 |
4.175 |
|
|
|
|
|
|
Interests on Term Loan @ 14.00% |
0.000 |
0.000 |
0.000 |
|
Interests on working Capital |
0.000 |
1.300 |
1.300 |
|
Amount of TL interests Capitalized |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Total Interests |
0.000 |
1.300 |
1.300 |
|
|
|
|
|
|
Operating Profit After
Interests |
1.089 |
2.251 |
2.875 |
|
|
|
|
|
|
Add: Other Non-operating
Income |
|
|
|
|
Commission on Consignment sale |
0.300 |
0.350 |
0.400 |
|
Sub Total (Income) |
0.300 |
0.350 |
0.400 |
|
|
|
|
|
|
Deduct: other Non-operating
Expenses |
|
|
|
|
Prelim/Pre-operating Expenses Written off |
0.000 |
0.000 |
0.000 |
|
Financial Cost/ Bank Charges |
0.075 |
0.110 |
0.122 |
|
Sub Total (Expenses) |
0.075 |
0.110 |
0.122 |
|
|
|
|
|
|
Profit before tax/Loss |
1.314 |
2.491 |
3.153 |
|
|
|
|
|
|
Less: Provision for taxes |
0.406 |
0.770 |
0.974 |
|
|
|
|
|
|
Net Profit/ Loss for the
year |
0.908 |
1.721 |
2.179 |
|
|
|
|
|
|
Retained profit |
0.908 |
1.721 |
2.179 |
|
|
|
|
|
|
Retained Profit/ Net profit
(% age) |
100.00% |
100.00% |
100.00% |
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS
OF BALANCE SHEET
(RS. IN MILLIONS)
|
Particulars |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Estimated) |
(Projected) |
(Projected) |
|
CURRENT
LIABILITIES |
|
|
|
|
Short – Term borrowings from banks [including bill
purchased, discounted and excess borrowings placed on repayment basis] |
|
|
|
|
From applicant Banks |
0.000 |
10.000 |
10.000 |
|
From Other Banks |
0.000 |
0.000 |
0.000 |
|
Of which BP and BD |
-- |
-- |
-- |
|
Sub
Total (A) |
0.000 |
10.000 |
10.000 |
|
|
|
|
|
|
Short Term Borrowings from others |
0.000 |
0.000 |
0.000 |
|
Sundry creditors [Trade] |
0.000 |
2.550 |
3.200 |
|
Advance payments from customers/ deposits from dealers |
0.000 |
0.000 |
0.000 |
|
Provision of taxes |
0.406 |
0.770 |
0.974 |
|
Dividend Payable |
0.000 |
0.000 |
0.000 |
|
Other Statutory Liabilities (Due within one year) |
0.000 |
0.000 |
0.000 |
|
Deposits/ Installments of Term/ loans/DPGs/Debentures etc.
(Due within one year) |
0.000 |
0.000 |
0.000 |
|
Other current liabilities and provision (Due within one year) |
0.120 |
0.135 |
0.140 |
|
|
|
|
|
|
Sub
– Total (B) |
0.526 |
3.455 |
4.314 |
|
|
|
|
|
|
TOTAL
CURRENT LIABILITIES |
0.526 |
13.455 |
14.314 |
|
|
|
|
|
|
TERM
LIABILITIES |
|
|
|
|
|
|
|
|
|
Debentures (Not Maturing within one year) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Unsecured Loans from Directors (Redeemable after one year) |
1.425 |
0.000 |
0.000 |
|
|
|
|
|
|
Term Loans (Excluding Installment) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Deferred Installment (Due within one year) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Term deposit (repayable after one year) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Other Term Liabilities |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
TOTAL
TERM LIABILITIES |
1.425 |
0.000 |
0.000 |
|
|
|
|
|
|
TOTAL
OF OUTSIDE LIABILITIES |
1.951 |
13.455 |
14.314 |
|
|
|
|
|
|
NET
WORTH |
|
|
|
|
Share Capital Account |
4.311 |
4.311 |
5.311 |
|
General Reserve |
|
|
|
|
Surplus (+) or deficit (-) in Profit and Loss Account others (Specify)
|
0.834 |
2.555 |
4.734 |
|
Shares Application Money |
0.000 |
4.000 |
0.000 |
|
Differed Tax Liability |
0.000 |
0.000 |
0.000 |
|
Less: Revolution Reserve |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
NET WORTH |
5.145 |
10.866 |
13.045 |
|
|
|
|
|
|
TOTAL LIABILITIES |
7.096 |
24.321 |
27.359 |
|
|
|
|
|
|
Net Worth
including Revaluation Reserves |
5.145 |
10.866 |
13.045 |
|
Net
Worth + Secured Loans + Unsecured Loans |
6.570 |
20.866 |
23.045 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
CURRENT
ASSETS |
|
|
|
|
|
|
|
|
|
Cash and Bank Balance |
0.092 |
0.300 |
0.362 |
|
|
|
|
|
|
Fixed deposit with bank |
0.000 |
0.000 |
0.000 |
|
Receivable Other than Exports |
0.500 |
13.000 |
14.000 |
|
|
|
|
|
|
Installment of deferred receivable (due within one year) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
INVENTORY: |
|
|
|
|
Raw materials
(including stores and other item used in the process of manufacturing) |
|
|
|
|
Imported |
0.000 |
0.000 |
0.000 |
|
Indigenous |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Stock – in – process |
0.000 |
0.000 |
0.000 |
|
Finished Goods |
0.000 |
4.500 |
6.000 |
|
|
|
|
|
|
Other Consumable Spares |
0.000 |
0.000 |
0.000 |
|
Imported Consumables |
0.000 |
0.000 |
0.000 |
|
Indigenous Consumables |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Advance to Suppliers of Raw materials and stores and
spares |
0.000 |
0.000 |
0.000 |
|
Advances Payments Taxes |
0.171 |
0.348 |
0.974 |
|
Other current assets |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
TOTAL
CURRENT ASSETS |
0.763 |
18.148 |
21.336 |
|
|
|
|
|
|
FIXED
ASSETS |
|
|
|
|
Gross Block |
6.552 |
6.552 |
6.552 |
|
Depreciation to date |
0.219 |
0.379 |
0.529 |
|
|
|
|
|
|
NET
BLOCK |
6.333 |
6.173 |
6.023 |
|
|
|
|
|
|
Investment/ books debts/ advances/ exposits which are not current
assets |
0.000 |
0.000 |
0.000 |
|
Investment in subsidiary company |
0.000 |
0.000 |
0.000 |
|
Others Investment |
0.000 |
0.000 |
0.000 |
|
Security Deposits |
0.000 |
0.000 |
0.000 |
|
Others |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
TOTAL
OTHER NON – CURRENT ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Intangible assets |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
TOTAL
ASSETS |
7.096 |
24.321 |
27.359 |
|
|
|
|
|
|
TANGIBLE
NETWORTH |
5.145 |
10.866 |
13.045 |
|
|
|
|
|
|
NET WORKING
CAPITAL |
0.237 |
4.693 |
7.022 |
|
|
|
|
|
|
Current
Ratio |
1.45 |
1.35 |
1.49 |
|
|
|
|
|
|
Total
Outside Liabilities/ Tangible Net Worth
|
0.38 |
1.24 |
1.10 |
|
|
|
|
|
|
Total
Term Liabilities/ Tangible Net Worth |
0.28 |
-- |
-- |
------------------------------------------------------------------------------------------------------------------------------
UNSECURED LOANS
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
|
|
|
|
From Directors and Relatives |
1.150 |
0.425 |
|
From Others |
0.000 |
1.947 |
|
|
|
|
|
Total |
1.150 |
2.372 |
------------------------------------------------------------------------------------------------------------------------------
FINANCIAL RESULTS
The company has neither incurred a loss of
Rs.0.024 Million during the period.
BACKGROUND OF THE COMPANY
The company was formed for setting up of
Edible Oil and Vanaspari trading. The main promoter the company Mr. Vikash Jain
is the proprietor of “Vikas Kumar and Bros” which is doing this edible oil
business since last 27 years and like to continue the same business in retail
network. The proprietorship concern is enjoying a CC limit of Rs.5.000 Millions
with SBI, New Marker Branch. With a new business idea they had formed a
company. The company has purchased an industrial plot at Dhulagarh Food Park
and constructed a warehouse thereat and has started its wholesale and bulk
trading with bakery, biscuit companies etc. which are plenty in that vicinity.
The units want different types of oils and the company would have to store
amount of stock and also the payment will take some time and automatically
there will be sundry debtors. Total business plan is going to be implemented by
the concerned person of the company Mr. Vikas Jain who has vast experience and
his young and energetic son Mr. Gaurav Jain.
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 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.54.39 |
|
|
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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.