MIRA INFORM REPORT
|
Report Date : |
12.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
LADA ORGANICS
PRIVATE LIMITED |
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|
|
|
Registered
Office : |
Flat No.A-41,
Savant Vihar, Near Katraj Dairy, Katraj, Pune – 411 046, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
19.03.2004 |
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Com. Reg. No.: |
11-019032 |
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Capital Investment
/ Paid-up Capital : |
Rs.0.203
million |
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|
|
CIN No.: [Company Identification
No.] |
U24116PN2004PTC019032 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Wood Preservatives, PU Polish and Anti Termite For Construction. |
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|
No. of Employees
: |
8 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
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 1000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Mr. Joel Dass, Director has confirmed that even though the company was
incorporated during March 2004, the business activities were not carried out
due to dispute between the directors. Since last two years, the business activities were commenced and hence
the company could record minimal turnover. It is a small company having a moderate track record. The financial
strength of the company is below average. However, trade relations are reported as fair. Business is active.
Payment terms are slow. The company can be considered for small to mediocre 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 |
|
Moderate |
B1 |
|
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. Joel Dass |
|
Designation : |
Director |
|
Contact No.: |
91-9422031808 |
|
Date : |
02.04.2013 |
LOCATIONS
|
Registered Office : |
Flat No.A-41, Savant
Vihar, Near Katraj Dairy, Katraj, Pune – 411 046, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9422031808 (Mr. Joel Dass) |
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Fax No.: |
Not Available |
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E-Mail : |
|
|
Area : |
1100 sq ft |
|
Location : |
Owned |
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|
|
|
Factory : |
S.No.43, Dattanagar, Ambegaon, Budruk Jambulwadi Road, Near Hemi Garden
Building, Pune – 411 046, Maharashtra, India |
|
Tel. No.: |
91-20-24317211 |
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Fax No.: |
91-20-24318430 |
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Area : |
800 sq ft |
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Location : |
Rented |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Joel Timothy Dass |
|
Designation : |
Director |
|
Address : |
A-41, Savant Vihar, Near Katraj Dairy, Katraj, Pune – 411 046,
Maharashtra, India |
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Date of Birth/Age : |
23.11.1970 |
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Date of Appointment : |
19.03.2004 |
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DIN No.: |
01251937 |
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Name : |
Ms. Jyoti Joel Dass |
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Designation : |
Director |
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Address : |
A-41, Savant Vihar, Near Katraj Dairy, Katraj, Pune – 411 046,
Maharashtra, India |
|
Date of Birth/Age : |
29.08.1974 |
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Date of Appointment : |
02.04.2004 |
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DIN No.: |
01252077 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Joel Timothy Dass |
|
1000 |
|
Jyoti Joel Dass |
|
1016 |
|
Nalini Dass |
|
14 |
|
Total |
|
2030 |
As on 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Wood Preservatives, PU Polish and Anti Termite For Construction. |
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|
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Products : |
·
Wood Preservatives
·
PU Polish ·
Anti Termite For Construction |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
South Africa |
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Terms : |
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Selling : |
Cheque |
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Purchasing : |
Cheque |
GENERAL INFORMATION
|
Suppliers : |
·
Paramount Minerals
and Chemicals Limited |
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Customers : |
Retailers and Distributors ·
Chandan Enterprises ·
Jaimin Agency |
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No. of Employees : |
8 (Approximately) |
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Bankers : |
Janaseva Sahakari
Bank Limited, Balaji Nagar, Near K.K. Market Petrol Pump, Dhankawdi, Pune –
411 037, Maharashtra, India (Contact No.: 91-20-24373859) |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
B.C. Sarda and Associates Chartered Accountants |
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Address : |
202B, Narayan Chambers, 505, Narayan Peth, Pune – 411 030,
Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ADXPS5651H |
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000 |
Equity Shares |
Rs.100/- each |
Rs.0.300 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2030 |
Equity Shares |
Rs.100/- each |
Rs.0.203
million |
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|
|
|
|
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 |
0.203 |
0.203 |
0.103 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(0.010) |
(0.089) |
(0.176) |
|
|
NETWORTH |
0.193 |
0.114 |
(0.073) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.476 |
0.277 |
0.116 |
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|
2] Unsecured Loans |
1.469 |
1.609 |
1.958 |
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|
TOTAL BORROWING |
1.945 |
1.886 |
2.074 |
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|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
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TOTAL |
2.138 |
2.000 |
2.001 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.115 |
0.143 |
0.170 |
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|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
|
INVESTMENT |
0.088 |
0.052 |
0.032 |
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|
DEFERRED TAX ASSETS |
0.039 |
0.081 |
0.120 |
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|
|
|
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|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1.033
|
0.549 |
0.331 |
|
|
Sundry Debtors |
1.437
|
2.121 |
1.912 |
|
|
Cash & Bank Balances |
0.030
|
0.004 |
0.027 |
|
|
Other Current Assets |
0.256
|
0.006 |
0.000 |
|
|
Loans & Advances |
0.000
|
0.000 |
0.039 |
|
Total
Current Assets |
2.756
|
2.680 |
2.309 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.581
|
0.657 |
0.336 |
|
|
Other Current Liabilities |
0.096
|
0.087 |
0.000 |
|
|
Provisions |
0.183
|
0.212 |
0.294 |
|
Total
Current Liabilities |
0.860
|
0.956 |
0.630 |
|
|
Net Current Assets |
1.896
|
1.724 |
1.679 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2.138 |
2.000 |
2.001 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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|
|
SALES |
|
|
|
|
|
|
|
Income |
4.141 |
4.301 |
3.970 |
|
|
|
Other Income |
0.005 |
0.003 |
0.002 |
|
|
|
TOTAL (A) |
4.146 |
4.304 |
3.972 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
4.132 |
3.805 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
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|
|
|
|
|
TOTAL (B) |
3.974 |
4.132 |
3.805 |
|
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.172 |
0.172 |
0.167 |
|
|
|
|
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.037 |
0.046 |
0.048 |
|
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|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.135 |
0.126 |
0.119 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.056 |
0.039 |
0.040 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.079 |
0.087 |
0.079 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
38.92 |
42.86 |
76.70 |
|
Expected Sales (2012-2013): Rs.5.500 millions
The above information has been parted by Mr. Joel Dass (Director).
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.91
|
2.02 |
1.99 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.26
|
2.93 |
3.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.70
|
4.46 |
4.80 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.70
|
1.11 |
(1.63) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
10.08
|
16.54 |
(28.41) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.20
|
2.80 |
3.67 |
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 |
|
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 |
|
17) Major suppliers |
Yes |
|
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 |
|
Unsecured Loans |
31.03.2012 (Rs. in Millions) |
31.03.2011 (Rs. in Millions) |
|
Loan from
Directors |
0.623 |
0.783 |
|
Loan from
Shareholder |
0.846 |
0.826 |
|
Total |
1.469 |
1.609 |
TRADE REFERENCES:
·
Chandan Enterprises
·
Jaimin Agency
·
Paramount Minerals
and Chemicals Limited
Bankers Charges
Report as per Registry
|
Corporate identity number of the company |
U24116PN2004PTC019032 |
|
Name of the company |
LADA ORGANICS PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
Flat No.A-41, Savant Vihar, Near Katraj Dairy, Katraj, Pune – 411 046, Maharashtra, India E-Mail: reshmasarda@gmail.com |
|
This form is for |
Modification of charge |
|
Charge identification number of the
modified |
10249351 |
|
Type of charge |
Immovable Property Book Debts Movable Property (not being pledge) |
|
Particular of charge holder |
Cash credit/overdraft agreement dated
07.02.2012 and Deed of further charge (mortgage) dated 30th
January 2012 of immovable property. by this modification cash
credit/overdraft facility enhanced form Rs.0.300 million to Rs.0.500 million
(addition of Rs.0.200 million) |
|
Nature of description of the instrument
creating or modifying the charge |
Janaseva Sahakari Bank Limited, Balaji Nagar, Near K.K. Market Petrol Pump, Dhankawdi, Pune – 411 037, Maharashtra, India E-Mail: loan@janasevabankpune.com |
|
Date of instrument Creating the charge |
07.02.2012 |
|
Amount secured by the charge |
Rs.0.500 million |
|
Brief particulars of the principal terms
an conditions and extent and operation of the charge |
Rate of Interest: 16% Terms of Repayment: 12 month Margin: 40% Extent and Operation of the charge: 1st charge on book debts, stock
such as chemicals, wood preservatives, dyes, finished products, laying at. S.
No.43, Datta Nagar, Jambhulwadi Road, Ambegaon Budruk, Pune-46 and additional
mortgage of immovable property located at A-41, Sawant Vihar, Near Katraj
Dairy, Pune- 46 |
|
Short particulars of the property charged |
Book Debts and Stock such as chemicals ,
wood preservatives, dyes, finished products laying at Servey No.43 Dattanagar
Jabhulwadi Road, Ambegaon Budruk Pune-411046 Additional mortgage of immovable property
located at A-41, Sawant Vihar, 2nd Floor, Near Katraj Dairy,
Pune-Satara Road, Katraj Pune-411046 |
|
Particulars of the present
modification |
Cash credit/ Overdraft agreement dated
07.02.2012 and Deed of further charge (mortgage) of immovable property dated
30.01.2012. By this modification cash credit/overdraft facility is enhanced
from Rs.0.300 million to Rs.0.500 million (additional limit of Rs.0.200
million) against the security of book debts and stock laying at S. No.43,
Datta Nagar, Jambhulwadi Road, Ambegaon Budruk, Pune-46 and additional
mortgage of immovable property located at A-41, Sawant Vihar, Near Katraj
Dairy, Pune- 46 |
Note:
The registered office of the company has been shifted from R, At B-4 Chaitranganco-Operative Housing Society, Kanchan Lane, Law
College Road, Pune – 411 004, Maharashtra to the present address w.e.f.
01.03.2008.
FIXED ASSETS:
·
Computer
·
Vehicles
·
Furniture and Fixtures
·
Plant and Machinery
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 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.54.43 |
|
|
1 |
Rs.83.60 |
|
Euro |
1 |
Rs.71.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.