MIRA INFORM REPORT

 

IDENTIFICATION DETAILS

 

Name :

ENHANCE PROTEINS LIMITED

 

 

Country :

India

 

 

Financials (as on) :

31.3.2013

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

DELE05706B

 

 

PAN No.:

[Permanent Account No.]

AACCE5529R

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

No. of Employees :

80 (Approximately)

 

 

BUSINESS DETAILS

 

Line of Business :

Processors and Suppliers of a wide range of Specialty Milk Ingredients and Whey Proteins.

 

 

Exports :

 

Products :

Finished Goods

Countries :

·         USA

·         Italy

·         Pakistan

 

 

Imports :

 

Products :

Raw Material

Countries :

Middle East

 

 

Terms :

 

Selling :

Cash, L/C and Credit

 

 

Purchasing :

Cash, L/C and Credit

 

 

PRODUCTION STATUS (AS ON 30.09.2011)

 

Class of Goods

Capacity (Qty)

Production (Qty-MT)

Bakery Premix

--

33.408

 

 

GENERAL INFORMATION

 

No. of Employees :

80 (Approximately)

 

 

Bankers :

City Union Bank Limited, B-1/30, Janakpuri, New Delhi - 110058, India

 

 

Facilities :

SECURED LOANS

01.10.2011 to

31.03.2013

(Rs. In Millions)

18.10.2010 to 30.09.2011

(Rs. In Millions)

SHORT TERM BORROWINGS

 

 

Loans repayable on demand - From Bank

 

 

Cash Credit - City Union Bank Limited

45.000

35.639

Packing Credit - City Union Bank Limited

14.952

0.000

Buyer Credit - City Union Bank Limited.

0.000

41.175

 

 

 

Total

59.952

76.814

 

 

UNSECURED LOANS

 

PARTICULAR

01.10.2011 to

31.03.2013

(Rs. In Millions)

18.10.2010 to 30.09.2011

(Rs. In Millions)

LONG TERM BORROWINGS

 

 

Loans and advance from related parties

 

 

From Deepa Goyal

7.500

0.000

 

 

 

SHORT TERM BORROWINGS

 

 

Temporary Book Overdraft

15.887

0.000

Loans and advance from related parties

 

 

From Deepa Goyal

3.450

0.000

 

 

 

Total

26.837

0.000

 

Banking Relations :

 

 

 

Auditors :

 

Name :

Shaival and Sunil

Chartered Accountants

Address :

B-56B, First Floor, Kalkaji, New Delhi – 110019, India

 

 

Associate Company :

·         Gorra Cheese Specialities Limited

·         Mahaan Proteins Limited

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 15.07.2013

 

Names of Shareholders

No. of Shares

%age

Deepa Goyal

1073800

99.94

Rhea Goyal

100

0.01

Ajay Nagpal

100

0.01

Naresh Kumar Sharma

100

0.01

V. Harihara Subramanian

100

0.01

Pragati Srivastava

100

0.01

Manoj Kumar

100

0.01

 

 

 

Total

1074400

100.00

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

01.10.2011 to

31.03.2013

18.10.2010 to 30.09.2011

I.        EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

10.744

10.744

(b) Reserves & Surplus

 

8.536

1.992

(c) Money received against share warrants

 

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

 

0.000

0.500

Total Shareholders’ Funds (1) + (2)

 

19.280

13.236

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

7.500

0.000

(b) Deferred tax liabilities (Net)

 

0.000

0.085

(c) Other long term liabilities

 

0.000

0.000

(d) long-term provisions

 

0.564

0.000

Total Non-current Liabilities (3)

 

8.064

0.085

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

79.289

76.814

(b) Trade payables

 

171.652

11.629

(c) Other current liabilities

 

10.254

3.724

(d) Short-term provisions

 

1.320

0.625

Total Current Liabilities (4)

 

262.515

92.792

 

 

 

 

TOTAL

 

289.859

106.113

 

 

 

 

II.      ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

3.303

2.417

(ii) Intangible Assets

 

0.083

0.000

(iii) Capital work-in-progress

 

22.523

0.000

(iv) Intangible assets under development

 

0.000

0.000

(b) Non-current Investments

 

0.000

0.000

(c) Deferred tax assets (net)

 

1.049

0.000

(d)  Long-term Loan and Advances

 

0.641

0.598

(e) Other Non-current assets

 

0.141

0.193

Total Non-Current Assets

 

27.740

3.208

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

0.000

0.000

(b) Inventories

 

63.538

33.360

(c) Trade receivables

 

183.846

55.290

(d) Cash and cash equivalents

 

6.405

9.857

(e) Short-term loans and advances

 

7.304

4.313

(f) Other current assets

 

1.026

0.085

Total Current Assets

 

262.119

102.905

 

 

 

 

TOTAL

 

289.859

106.113

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

01.10.2011 to

31.03.2013

18.10.2010 to 30.09.2011

 

SALES

 

 

 

 

 

Income

 

699.874

200.205

 

 

Other Income

 

17.444

1.884

 

 

TOTAL                                    

 

717.318

202.089

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

 

67.392

4.072

 

 

Purchases of Stock-in-Trade

 

615.528

200.401

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

 

(37.816)

(17.196)

 

 

Employees benefits expense

 

14.344

2.096

 

 

Other expenses

 

34.492

4.850

 

 

TOTAL                                    

 

693.940

194.223

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

 

23.378

7.866

 

 

 

 

 

Less

FINANCIAL EXPENSES                        

 

16.439

4.529

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

6.939

3.337

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION        

 

0.459

0.325

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

 

6.480

3.012

 

 

 

 

 

Less

TAX                                                                 

 

(0.063)

1.020

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

 

6.543

1.992

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export of goods calculated on FOB basis

 

34.335

9.149

 

TOTAL EARNINGS

 

34.335

9.149

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

 

17.747

0.000

 

 

Finishd Goods

 

18.514

66.652

 

TOTAL IMPORTS

 

36.261

66.652

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 

6.09

3.54

 

 

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 but correct

 

 

Litigation :

Clear

 

 

RBI DEFAULTERS LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

LOCATIONS

 

Registered Office :

78/3, 2nd Floor, Janpath, New Delhi – 110001, India

Tel. No.:

91-11-23353191/ 23353192/ 23353193

Mobile No.:

91-9650100492 (Mr. Ajay Nagpal)

Fax No.:

91-11-23718056

E-Mail :

rggoyal@yahoo.com

info@enhanceproteins.com

ajay.goyal@enhanceproteins.com

anandanandinc@yahoo.co.in

Website :

http://www.enhanceproteins.com

Area :

3000 sq. ft.

 

 

Corporate/ Marketing Office :

Lane No 1, Plot No.5, First Floor, Westend Marg, Saidulajab, New Delhi – 110030, India

Tel. No.:

91-11-29534532

E-Mail :

rajiv.goyal@enhanceproteins.com

Area :

3200 sq. ft.

 

 

Branch Office/ Godown :

B – 228, V K I Area, Road No. 09, Jaipur, Rajasthan, India

Tel No.:

91-141-4020266/ 2333815

Area :

800 sq. ft.

 

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

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