MIRA INFORM REPORT
|
Report Date : |
27.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
NOVA AGRITECH PRIVATE LIMITED |
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Registered
Office : |
Plot No.5, 2nd Floor, MJR Residency, Vittal Nagar, Chinna
Thokatta, New Bowenpally, Secunderabad – 500011, Andhra Pradesh |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
09.05.2007 |
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Com. Reg. No.: |
01-053901 |
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Capital
Investment / Paid-up Capital : |
Rs. 2.885 Millions |
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CIN No.: [Company Identification
No.] |
U01119AP2007PTC053901 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
HYDN03210E HYDN03585B |
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PAN No.: [Permanent Account No.] |
AAGFN3316G AACCN8771A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Agriculture Chemicals. |
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No. of Employees
: |
45 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 113000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record.
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 for business dealings at usual trade and
conditions. Profit and loss account for year 2012 is not available. |
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) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
ICRA |
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Rating |
SME 2 |
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Rating Explanation |
Having high credit quality rating |
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Date |
March 2013 |
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 (General Details)
|
Name : |
Mr. Krishna Kumar |
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Designation : |
Sr. Executive Administration |
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Date : |
21.05.2013 |
LOCATIONS
|
Registered Office : |
Plot No.5, 2nd Floor, MJR Residency, Vittal Nagar, Chinna Thokatta,
New Bowenpally, Secunderabad – 500011, Andhra Pradesh, India |
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Tel. No.: |
91-40-27957082 |
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Mobile No.: |
91-8121678999 (Mr. Kalyana) 91-9177985789 (Mr.Ashok) |
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Fax No.: |
91-40-27957081 |
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E-Mail : |
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Website : |
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Area : |
5000 Sq.ft |
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Location : |
Rented |
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Factory: |
Located at Secunderabad |
DIRECTORS
As on 29.09.2012
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Name : |
Mrs. Sambasivarao Yeluri |
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Designation : |
Director |
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Address : |
3-1-131, Vidhya Nagarcolony, Chunchupalle, Kothagundem, Khammam District,
Andhra Pradesh, India |
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Date of Birth/Age : |
10.07.1977 |
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Date of Appointment : |
19.05.2007 |
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DIN No.: |
02311336 |
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Other Directorship:
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Name : |
Mr. Malathi Siripurapu |
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Designation : |
Director |
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Address : |
Plot No.3, Jaya Nagar, New Bowenpally, Secunderabad, Andhra Pradesh,
India |
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Date of Birth/Age : |
10.02.1979 |
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Date of Appointment : |
10.07.2011 |
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DIN No.: |
03033944 |
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Other Directorship:
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MAJOR SHAREHOLDERS
As on 29.09.2012
|
Names of Shareholders |
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No. of Shares |
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Sambasivarao Yeluri Rao |
|
114000 |
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Malathi Yeluri |
|
30000 |
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Chakrvarthy Kalyan |
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21000 |
|
Suraksha Agri Retail (India) Private Limited |
|
83500 |
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Lalitha Bai Katgi |
|
4000 |
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Manju Devi Agarwal |
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4000 |
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Muralidhar Kumar |
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4000 |
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Sri Hari Gaddam |
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4000 |
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Sudhakar Hupale |
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4000 |
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Neeraj Sharma |
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4000 |
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Baliram Nigadale |
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4000 |
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Pravan Kumar Sharma |
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4000 |
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Shiv Kumar |
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4000 |
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Prashanth Kumar |
|
4000 |
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Total |
|
288500 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Bodies corporate |
28.94 |
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Directors or relatives of Directors |
71.06 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Agriculture Chemicals. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
45 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Abhishek K and Associates Chartered Accountant |
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Address : |
# 4-1-970, Shop No. 13, Surabhi Shraddha, Opposite Santosh Sapna
Theatre Lane, Tilak Road, Abids, Hyderabad – 500001, Andhra Pradesh, India |
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Tel. No.: |
91-40-32998828 |
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Mobile No.: |
91-9346496491 91-9533388876 |
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PAN No.: |
AKIPK0550B |
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
288500 |
Equity Shares |
Rs.10/- each |
Rs.2.885 Millions |
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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 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.885 |
2.485 |
2.485 |
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2] Share Application Money |
0.100 |
3.100 |
0.100 |
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3] Reserves & Surplus |
25.270 |
15.495 |
11.969 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
28.155 |
21.080 |
14.554 |
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LOAN FUNDS |
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1] Secured Loans |
4.770 |
7.146 |
2.760 |
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2] Unsecured Loans |
21.151 |
7.241 |
3.981 |
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TOTAL BORROWING |
25.921 |
14.387 |
6.741 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
54.176 |
35.467 |
21.320 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
24.658 |
10.527 |
7.761 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.129 |
0.129 |
0.000 |
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DEFERRED TAX ASSETS |
0.226 |
0.067 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
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Inventories |
12.082
|
11.009 |
3.045 |
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Sundry Debtors |
37.906
|
67.845 |
28.827 |
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Cash & Bank Balances |
7.062
|
4.013 |
1.139 |
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Other Current Assets |
0.041
|
0.041 |
0.000 |
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Loans & Advances |
2.863
|
7.837 |
2.962 |
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Total
Current Assets |
59.954
|
90.745 |
35.973 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
18.181
|
61.499 |
19.817 |
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Other Current Liabilities |
11.329
|
3.679 |
2.651 |
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Provisions |
1.281
|
0.823 |
0.000 |
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Total
Current Liabilities |
30.791
|
66.001 |
22.468 |
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Net Current Assets |
29.163
|
24.744 |
13.505 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.054 |
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TOTAL |
54.176 |
35.467 |
21.320 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
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SALES |
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Income |
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Other Income |
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TOTAL |
|
225.582 |
122.307 |
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Less |
EXPENDITURE |
|
221.325 |
119.244 |
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PROFIT BEFORE
TAX |
|
4.256 |
3.062 |
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Less |
TAX |
|
0.730 |
0.510 |
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PROFIT AFTER TAX
|
|
3.526 |
2.552 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
N.A.
|
1.89 |
2.50 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
N.A.
|
4.20 |
7.00 |
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Return on Investment (ROI) (PBT/Networth) |
|
N.A.
|
0.20 |
0.21 |
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Debt Equity Ratio (Total Debts/Networth) |
|
0.92
|
0.68 |
0.46 |
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Current Ratio (Current Asset/Current Liability) |
|
1.95
|
1.37 |
1.60 |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
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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
two years |
Yes |
|
12] |
Profitability for last
two 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 |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
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 |
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 |
Yes |
NOTE: Registered office of the company has been shifted from Plot No.5, 2nd Floor, MJR Residency, Vittal Nagar, Chinna Thokatta, New Bowenpally, Secunderabad – 500011, Andhra Pradesh, India to the present address w.e.f.01.07.2011
UNSECURED LOAN:
|
Particulars |
As
on 31.03.2012 (Rs.
In Millions) |
As
on 31.03.2011 (Rs.
In Millions) |
|
From Related Parties |
6.690 |
7.241 |
|
From Bank |
4.911 |
0.000 |
|
From Financial Institutions |
9.550 |
0.000 |
|
|
|
|
|
Total |
21.151 |
7.241 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U01119AP2007PTC053901 |
|
Name of the
company |
NOVA AGRI TECH PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No.5, 2nd Floor, MJR Residency, Vittal Nagar, Chinna
Thokatta, New Bowenpally, Secunderabad – 500011, Andhra Pradesh, India |
|
This form is for |
Creation
of charge |
|
Type of charge |
Immovable
property |
|
Particular of charge
holder |
Corporation Bank,
Gunrock Enclave, Secunderabad-500009, Andhra Pradesh, India E-mail Id: ftscentre@corpbank.co.in |
|
Nature of
instrument creating charge |
Agreement for
term loans |
|
Date of
instrument Creating the charge |
30.03.2013 |
|
Amount secured by
the charge |
Rs. 28.900
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
13.45% Terms of
Repayment Not to exceed 72 months including initial moratorium period of 6months
in 66 monthly installments of Rs 0.437 Million each commencing from october
2013 and the last installment beingrs 0.495 Million intrest to be paid
separately as and when due Margin 25.10% Extent and
Operation of the charge Loan extent to repayment of loan amonunt and intrest to gether on
time. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
|
FIXED ASSETS
- Land and Building (Plant)
- Land At Bowenpally
- Trade Mark
- Air conditioner
- Computer and
Printer
- Furniture and fixture
- Electrical
Equipment
- Indigo Car
- Mahindra Max
Vehicles
- Mahindra
Bolero
- Toyota Innova
- Mobile Phones
- Lab Equipment
- Weighing
Scale
- Blenger
Machine
- Straping
Machine
- Cease Fires
Machine
- Water Purific
Machine
- Washing
Machine
- Whirlpool
Refregerator
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.55.61 |
|
|
1 |
Rs.83.98 |
|
Euro |
1 |
Rs.71.94 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHN |
|
|
|
|
Report Prepared
by : |
AHN |
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 |
5 |
|
--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 |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.