MIRA
INFORM REPORT
|
Report Date : |
29.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
JAPFA COMFEED INDIA PRIVATE LIMITED (w.e.f.15.10.2010) |
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Formerly Known
As : |
JAPFA COMFEED INDIA LIMITED JAPFA OBEROI AGRO PRIVATE LIMITED |
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Registered
Office : |
Chamber No.2, 306, Corporate Towers, 85/A, Zamrudpur, Greater Kailash
– I, New |
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Country : |
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Financials (as
on) : |
31.12.2013 |
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Date of
Incorporation : |
17.11.1995 |
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Com. Reg. No.: |
55-073947 |
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Capital
Investment / Paid-up Capital : |
Rs. 2087.908 Millions |
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CIN No.: [Company Identification
No.] |
U01222DL1995PTC073947 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction & Collection
Account No.] |
PNEJ04694E / DELJ02388B |
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PAN No.: [Permanent Account No.] |
AAACJ1855B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter
of Poultry Feeds and Hatcheries. |
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No. of Employees
: |
700 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “JAPFA INDIA INVESTMENTS PTE. LIMITED”. It is
an established company having satisfactory track record. The company has incurred accumulated losses over a year. However, the company has processed above average operational
performance which has resulted into profit achieved from its operation during
2013. Further rating also takes into consideration financial and manager
support that company receives from its parent company. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. In view of strong parent company support, the company can be
considered for business dealings at usual trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loan = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
September 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term fund based = A3+ |
|
Rating Explanation |
Moderate degree of safety and very high
credit risk. |
|
Date |
September 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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Amiya Nath |
|
Designation : |
Sales Manager |
|
Contact No.: |
91-9332121332 |
|
Date : |
27.12.2014 |
LOCATIONS
|
Registered Office : |
Chamber No.2, 306, Corporate Towers, 85/A, Zamrudpur, Greater Kailash
– I, New |
|
Tel. No.: |
91-11-29231090 |
|
Mobile No.: |
91-9332121332 [Mr. Amiya Nath] |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Head Office : |
No. 91, Sakure Nagar, Viman Nagar, Pune – 411014, Maharashtra, India |
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Tel. No.: |
91-20-30537800-810 |
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Fax No.: |
91-20-30537888/ 26059123/ 30537903 |
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E-Mail : |
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Factory : |
Located at ·
Maharashtra ·
West Bengal ·
Bihar ·
Nalgonda ·
Telangana |
DIRECTORS
AS ON 20.03.2014
|
Name : |
Mr. Yong Nang Tan |
|
Designation : |
Director |
|
Address : |
8 Jalan Haji Alias,
Corona Court, Singapore – 268610 |
|
Date of Birth/Age : |
20.04.1961 |
|
Date of Appointment : |
12.08.2014 |
|
DIN No.: |
02575520 |
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|
|
|
Name : |
Mr. Wahjudi Gunawan |
|
Designation : |
Director |
|
Address : |
11 G Mt Sinai Lane
No.4-32, Singapore – 277056 |
|
Date of Birth/Age : |
05.02.1967 |
|
Date of Appointment : |
08.05.2003 |
|
DIN No.: |
00209093 |
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|
|
|
Name : |
Mr. Prasad Chittaranjan Wagh |
|
Designation : |
Managing director |
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Address : |
Flat E-304, 3rd Floor, Rohan Garima Cooperative Housing Society,
Near Shivaji Housing Society, S.B. Road, Shivajinagar, Pune – 411016,
Maharashtra, India |
|
Date of Birth/Age : |
23.05.1965 |
|
Date of Appointment : |
12.08.2014 |
|
DIN No.: |
06653678 |
KEY EXECUTIVES
|
Name : |
Mr. Amiya Nath |
|
Designation : |
Sales Manager |
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|
|
|
Name : |
Mrs. Prabha Vadlamannati |
|
Designation : |
Secretary |
|
Address : |
1A, Subroto Marg, Old
Golibar Maidan, Pune – 411040, Maharashtra, India |
|
Date of Birth/Age : |
25.01.1966 |
|
Date of Appointment : |
24.08.2009 |
|
PAN No.: |
ADEPV5629H |
MAJOR SHAREHOLDERS
AS ON 20.03.2014
|
Names of Shareholders |
No. of Shares |
|
Japfa Pte. Limited, (formerly known as Japfa Holdings Pte. Limited) |
37125484 |
|
Japfa India Investments Pte. Limited |
171665279 |
|
Total |
208790763 |
AS ON 26.03.2014
|
Names of Allottees |
No. of Shares |
|
Japfa India Investments Pte. Limited |
12120000 |
|
Total |
12120000 |
AS ON 16.06.2014
|
Names of Allottees |
No. of Shares |
|
Japfa India Investments Pte. Limited |
11734000 |
|
Total |
11734000 |
AS ON 20.03.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter
of Poultry Feeds and Hatcheries. |
|
|
|
|
Products : |
·
Poultry Feeds ·
Hatcheries |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Not Divulged |
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Countries : |
Indonesia |
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Imports : |
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Products : |
Raw Material |
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Countries : |
· USA Vietnam Myanmar Europe |
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Terms : |
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Selling : |
Cash and Advance Payment |
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Purchasing : |
Cash and Advance Payment |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers and End Users
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No. of Employees : |
700 (Approximately) |
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Bankers : |
· ICICI Bank Limited Landmarkrace Cource Circle, Baroda - 390015, Gujarat, Baroda · Axis Bank Limited Trishul 3rd Floor Opposite Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad - 380006, Gujarat, India |
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Facilities : |
SECURED LOANS
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Banking
Relations : |
--- |
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Auditors : |
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|
Name : |
Suresh Surana and Associates LLP Chartered Accountants |
|
Address : |
310, Ahura Centre, 82, Mahakali Caves Road, Andheri [East],
Mumbai – 400093, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ACLFS1562L |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Ultimate Holding
Company : |
Japfa Holdings Pte. Limited (Formerly known as Malvolia
Pte. Limited) |
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Holding Company : |
· Japfa India Investments Pte. Limited (Formerly known as Malvolia India Investments Pte. Limited, Singapore (From 26 March 2012) Japfa Comfeed International Pte. Limited, Singapore (Upto
25 March 2012) |
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|
Associate Company : |
Central India Poultry Breeders Private Limited (From 20
December 2013) [U01222PN2003PTC017812] |
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Fellow Subsidiary : |
· Annona Pte. Limited PT Japfa Comfeed Indonesia TBK Japfa India Investment Pte. Limited, Singapore (Formerly
known as Malvolia India Investments Pte. Limited) (Up to 25 March 2012) Japfa Comfeed International Pte. Limited, Singapore (From
26 March 2012) |
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Enterprise under
common control : |
PT So Good Food |
CAPITAL STRUCTURE
AFTER 20.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
245,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 2450.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
232,644,763 |
Equity Shares |
Rs. 10/- each |
Rs. 2326.448 Millions |
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AS ON 31.12.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
220,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 2200.000 Millions |
|
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
208,790,763 |
Equity Shares |
Rs. 10/- each |
Rs. 2087.908 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.12.2013 |
31.12.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
2087.908 |
1765.793 |
|
(b) Reserves & Surplus |
|
(1035.375) |
(1044.084) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
1052.533 |
721.709 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1.235 |
21.190 |
|
(b) Deferred tax liabilities (Net) |
|
44.385 |
39.335 |
|
(c) Other long term liabilities |
|
3.128 |
3.352 |
|
(d) long-term provisions |
|
5.030 |
3.654 |
|
Total Non-current Liabilities (3) |
|
53.778 |
67.531 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
23.060 |
227.905 |
|
(b) Trade payables |
|
361.487 |
408.196 |
|
(c) Other current
liabilities |
|
42.638 |
33.790 |
|
(d) Short-term provisions |
|
1.255 |
1.272 |
|
Total Current Liabilities (4) |
|
428.440 |
671.163 |
|
|
|
|
|
|
TOTAL |
|
1534.751 |
1460.403 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
682.456 |
637.146 |
|
(ii) Intangible Assets |
|
17.341 |
23.347 |
|
(iii) Capital
work-in-progress |
|
14.721 |
73.735 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
31.870 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
77.590 |
28.942 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
823.978 |
763.170 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
484.929 |
535.802 |
|
(c) Trade receivables |
|
46.618 |
45.499 |
|
(d) Cash and cash
equivalents |
|
158.581 |
82.269 |
|
(e) Short-term loans and
advances |
|
19.740 |
25.192 |
|
(f) Other current assets |
|
0.905 |
8.471 |
|
Total Current Assets |
|
710.773 |
697.233 |
|
|
|
|
|
|
TOTAL |
|
1534.751 |
1460.403 |
|
SOURCES OF FUNDS |
|
|
31.12.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
1346.650 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
(749.347) |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
597.303 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
305.974 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
305.974 |
|
|
DEFERRED TAX LIABILITIES |
|
|
24.976 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
928.253 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
589.128 |
|
|
Capital work-in-progress |
|
|
50.611 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
390.008
|
|
|
Sundry Debtors |
|
|
52.570
|
|
|
Cash & Bank Balances |
|
|
56.370
|
|
|
Other Current Assets |
|
|
1.364
|
|
|
Loans & Advances |
|
|
73.574
|
|
Total
Current Assets |
|
|
573.886
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
250.739
|
|
|
Other Current Liabilities |
|
|
26.535
|
|
|
Provisions |
|
|
8.098
|
|
Total
Current Liabilities |
|
|
285.372
|
|
|
Net Current Assets |
|
|
288.514
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
928.253 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue |
4758.529 |
4062.149 |
3468.577 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
67.207 |
(235.616) |
(204.004) |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
53.448 |
44.339 |
48.943 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
13.759 |
(279.955) |
(252.947) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
5.050 |
14.782 |
162.207 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
8.709 |
(294.737) |
(415.154) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
75.102 |
115.749 |
190.211 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
164.594 |
133.975 |
113.339 |
|
|
|
Consumables, Stores and Spares |
13.589 |
6.428 |
4.777 |
|
|
|
Fixed Assets including CWIP |
24.561 |
26.516 |
37.452 |
|
|
TOTAL IMPORTS |
202.744 |
166.919 |
155.568 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
0.04 |
(1.67) |
(3.08) |
|
Expected Sales (2013-14) : Rs. 6000.000 Millions
The above information has been parted by Mr. Amiya Nath (Sales Manager).
KEY RATIOS
|
PARTICULARS |
|
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.18 |
(7.26) |
(11.97) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.92
|
20.19 |
21.75 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.39 |
0.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.02
|
0.35 |
0.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.66
|
1.04 |
2.01 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2012 |
31.12.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
1765.793 |
2087.908 |
|
Reserves & Surplus |
(1044.084) |
(1035.375) |
|
Net
worth |
721.709 |
1052.533 |
|
|
|
|
|
Long-term borrowings |
21.190 |
1.235 |
|
Short term borrowings |
227.905 |
23.060 |
|
Total
borrowings |
249.095 |
24.295 |
|
Debt/Equity ratio |
0.345 |
0.023 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3468.577 |
4062.149 |
4758.529 |
|
|
|
17.113 |
17.143 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3468.577 |
4062.149 |
4758.529 |
|
Profit/ (Loss) |
(415.154) |
(294.737) |
8.709 |
|
|
(11.97%) |
(7.26%) |
0.18% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF LONG TERM DEBT = NOT AVAILABLE
|
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) |
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 |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10234945 |
11/12/2012 * |
80,000,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD FLOOR OPP MARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA |
B65355273 |
|
2 |
80055809 |
11/12/2012 * |
90,000,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA |
B65353005 |
|
3 |
80002487 |
11/12/2012 * |
206,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B64823479 |
* Date of charge modification
CORPORATE INFORMATION
Subject is a private limited company domiciled in India and is
incorporated under the provisions of the Companies Act, 1956. The Company is
engaged in the business of owning, running, hiring, entering into lease and
license, designing, commissioning and operating poultry farms, hatcheries,
poultry feed mills and export of corn.
FIXED ASSETS:
· Land
Buildings
Office
building
Plant
and equipment
Factory
equipments
Furniture
and fixtures
Vehicles
Motor
vehicles
Office
equipment
Computer
equipments
Other
equipments
Computer
software
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 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. 63.63 |
|
|
1 |
Rs. 98.97 |
|
Euro |
1 |
Rs. 77.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ASH |
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 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
41 |
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.