|
Report Date : |
10.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
TIRTH AGRO TECHNOLOGY PRIVATE LIMITED |
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Registered Office : |
Shaktiman, Survey No.-108/1, Plot No. B, NH-8B, Near |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
26.07.2000 |
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Com. Reg. No.: |
04-038435 |
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Capital
Investment / Paid-up Capital : |
Rs.14.850 Millions |
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CIN No.: [Company
Identification No.] |
U72900GJ2000PTC038435 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RKTT00405G |
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PAN No.: [Permanent
Account No.] |
AABCT6282F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing of Agriculture Implements. |
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No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 2680000 |
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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. The management has seen a drastic dip in its net profitability during
2013. However, financial position appears to be sound marked by decent
networth position recorded due to accretion to reserves. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. In view of established market position in the industry, the subject
can be considered normal for business dealings at usual trade terms and
conditions. |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
India’s current
account deficit narrowed in the quarter ended September as government measures
to curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third
quarter, according to a study by RSA. India ranks fourth in the list of nations
hit by phishing attacks. The US remained at the top of the charts. Phishing is
the process of acquiring information such as user names, passwords and credit
card details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and acquisition
guidelines, cleared by a group of ministers, will be out before the auction
begins so that players can make informed decisions on the auctions.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating: BBB- |
|
Rating Explanation |
Moderate degree of safety regarding timely servicing and carry
moderate credit risk. |
|
Date |
11.02.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating: A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
11.02.2013 |
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 DECLINED BY
|
Name : |
Mr. Rao |
|
Designation : |
Company Manager |
|
Contact No.: |
91-9909947199 |
|
Date : |
09.01.2014 |
LOCATIONS
|
Registered Office : |
Shaktiman, Survey No.-108/1, Plot No. B, NH-8B, Near Bharudi Toll
Plaza, Bhunava (Village), Gondal, Rajkot – 360311, Gujarat, India |
|
Tel. No.: |
Not Available |
|
Mobile No : |
91-9909947199 (Mr. Rao) |
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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/ Factory: |
At- Bhunava, N.H.-27, Gondal, Rajkot – 360311, Gujarat,
India. |
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Correspondence Office: |
Near Hotel Kirshna Park, N.H. 27, Vavdi, Rajkot – 360004, Gujarat, India |
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Tel. No.: |
91-2827-661637 / 270446 / 270447 / 270537 |
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Fax No.: |
91-2827-270457 |
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E-Mail : |
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Branch Office : |
Also Located at · Gujarat Rajkot Rajsthan Maharashtra Karnatak Punjab Haryana Madhya Pradesh Tamilnadu Uttara Khand Uttar Pradesh Bihar Jharkhand Chhatishgarh Orissa Andhra Pradesh West Bengal Aasam |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Hasmukhbhai Gatorbhai Gohil |
|
Designation : |
Director |
|
Address : |
3, Marutinagar,
Kevalam Apartment, 3rd Floor, 304, Airport Road, Rajkot-360003,
Gujarat, India |
|
Date of Birth : |
22.12.1975 |
|
Qualification : |
Mechanical Engineer |
|
Date of Appointment : |
26.07.2000 |
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PAN No.: |
AERPG2922G |
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DIN : |
00619221 |
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|
|
|
Name : |
Mr. Ashwin Gatorbhai Gohil |
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Designation : |
Director |
|
Address : |
401, Atul
Appartment, 4, Ramkrishna Nagar, Dr. Yagni K Road, Rajkot – 360002, Gujarat,
India |
|
Date of Birth : |
08.12.1973 |
|
Qualification : |
Mechanical Engineer |
|
Date of Appointment : |
26.07.2000 |
|
PAN No.: |
ADSPG6669G |
|
DIN : |
00619253 |
KEY EXECUTIVES
|
Name : |
G Chalapathi Rao |
|
Designation : |
Secretary |
|
Address : |
104, Ruby Appartment, Sun City, Sadhu Vasvani Road, Rajkot – 360005,
Gujarat, India |
|
Date of Birth/Age : |
10.01.1963 |
|
Date of Appointment : |
18.06.2012 |
|
PAN No.: |
ADGPC8303F |
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|
|
|
Name : |
Mr. Rao |
|
Designation : |
Company Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Ashwin Gohil |
|
804000 |
|
Hasmukhbhai Gohil |
|
656000 |
|
Gatorbhai Ladhubhai Gohil |
|
25000 |
|
Total |
|
1485000 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Agriculture Implements. |
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Products : |
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PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed Capacity |
Actual Production |
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|
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|
|
|
Agriculture Implements |
Nos. |
75000 |
42273 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
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Bankers : |
· Axis Bank Limited, Asset Sale Centre, 1st floor, Pearl Plaza, Behind G T Sheth School, 150 ft Ring Road, Rajkot - 360005, Gujarat, INDIA · Bank of Baroda, Industrial Estate SME Branch, 2/12, Bhaktinagar Station Plot, Rajkot - 360002, Gujarat, India · IDBI Bank Limited Corporation Bank HDFC Bank Limited ICICI Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Kalaria and Sampat Chartered Accountants |
|
Address : |
302-305, Star Avenue, Dr. Radhakrishna Road, Opposite Rajkumar College, Rajkot - 360001, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFK2045F |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1650000 |
Equity Shares |
Rs.10/- each |
Rs. 16.500 Millions |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1485000 |
Equity Shares |
Rs.10/- each |
Rs. 14.850
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
14.850 |
14.850 |
14.850 |
|
(b) Reserves & Surplus |
654.397 |
505.090 |
185.111 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
669.247 |
519.940 |
199.961 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
675.399 |
562.629 |
273.806 |
|
(b) Deferred tax liabilities (Net) |
28.658 |
33.332 |
24.436 |
|
(c) Other long term liabilities |
89.162 |
70.545 |
0.910 |
|
(d) long-term provisions |
0.607 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
793.826 |
666.506 |
299.152 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
583.935 |
469.737 |
208.879 |
|
(b) Trade payables |
311.019 |
446.572 |
268.253 |
|
(c) Other current
liabilities |
374.015 |
268.254 |
145.438 |
|
(d) Short-term provisions |
54.011 |
151.288 |
22.012 |
|
Total Current Liabilities (4) |
1322.980 |
1335.851 |
644.582 |
|
|
|
|
|
|
TOTAL |
2786.053 |
2522.297 |
1143.695 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1007.964 |
837.446 |
491.886 |
|
(ii) Intangible Assets |
11.581 |
9.791 |
0.000 |
|
(iii) Capital
work-in-progress |
128.251 |
187.251 |
18.348 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
32.067 |
29.560 |
61.114 |
|
(e) Other Non-current assets |
2.827 |
11.308 |
3.416 |
|
Total Non-Current Assets |
1182.690 |
1075.356 |
574.764 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
361.511 |
563.272 |
277.108 |
|
(c) Trade receivables |
945.106 |
811.029 |
253.916 |
|
(d) Cash and cash equivalents |
268.013 |
57.994 |
22.051 |
|
(e) Short-term loans and
advances |
28.733 |
14.646 |
15.856 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
1603.363 |
1446.941 |
568.931 |
|
|
|
|
|
|
TOTAL |
2786.053 |
2522.297 |
1143.695 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operation |
4021.400 |
4477.500 |
2545.300 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
533.200 |
705.800 |
219.000 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
150.000 |
91.500 |
23.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
383.200 |
614.300 |
195.300 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
171.200 |
127.400 |
57.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
212.000 |
487.000 |
137.400 |
|
|
|
|
|
|
|
|
|
|
TAX |
63.600 |
167.000 |
46.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
148.400 |
320.000 |
91.500 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
58.843 |
131.700 |
21.915 |
|
|
TOTAL EARNINGS |
58.843 |
131.700 |
21.915 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.000 |
0.000 |
6.223 |
|
|
|
Spares |
0.000 |
0.000 |
47.628 |
|
|
|
Capital Goods |
14.790 |
128.757 |
0.000 |
|
|
|
Others Purchases |
44.143 |
111.843 |
68.738 |
|
|
TOTAL IMPORTS |
58.933 |
240.600 |
122.589 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
99.93 |
215.47 |
66.06 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.27
|
10.88
|
5.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.98
|
20.86
|
12.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32
|
0.94
|
0.69 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.88
|
1.99
|
2.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21
|
1.08
|
0.88 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT
MATURITIES OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
208.954 |
105.812 |
33.515 |
|
|
|
|
|
|
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
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 |
Yes |
|
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 |
10453953 |
21/09/2013 |
1,644,000.00 |
AXIS BANK LIMITED |
ASSET SALE CENTRE, 1ST FLOOR, PEARL PLAZA, BEHIND G T SHETH SCHOOL, 150 FT RING ROAD, RAJKOT - 360005, GUJARAT, INDIA |
B87060844 |
|
2 |
10275695 |
31/03/2011 |
30,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
1ST FLOOR, NIRMAL, 7, RAMKRISHNANAGAR CORNER, OPPOSITE COMMISSIONER BUNGALOW, OFF. YAGNIK ROAD, RAJKOT - 360001, GUJARAT, INDIA |
B09096686 |
|
3 |
10278642 |
29/03/2011 |
100,000,000.00 |
BANK OF BARODA |
INDUSTRIAL ESTATE SME BRANCH, 2/12, BHAKTINAGAR STATION PLOT, RAJKOT - 360002, GUJARAT, INDIA |
B10135150 |
|
4 |
10278641 |
29/10/2012 * |
1,708,200,000.00 |
BANK OF BARODA |
INDUSTRIAL ESTATE SME BRANCH, 2/12, BHAKTINAGAR STATION PLOT, RAJKOT - 360002, GUJARAT, INDIA |
B60989779 |
|
5 |
10281615 |
29/10/2012 * |
1,708,200,000.00 |
BANK OF BARODA |
INDUSTRIAL ESTATE SME BRANCH, 2/12, BHAKTINAGAR STATION PLOT, RAJKOT - 360002, GUJARAT, INDIA |
B60989084 |
|
6 |
10275056 |
25/02/2011 |
750,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B08745200 |
|
7 |
10277155 |
01/10/2010 |
170,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA |
A99725137 |
|
8 |
10249151 |
25/09/2010 |
980,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
A98825805 |
|
9 |
10249153 |
25/09/2010 |
980,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
A98827421 |
|
10 |
10151095 |
20/04/2009 * |
73,075,000.00 |
BANK OF BARODA |
INDUSTRIAL ESTATE
SME BRANCH, 2/12 BHAKTINAGAR S |
A67726927 |
|
11 |
10155074 |
27/03/2009 |
73,075,000.00 |
BANK OF BARODA |
INDUSTRIAL ESTATE
SME BRANCH, 2/12 BHAKTINAGAR S |
A61062162 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from directors |
37.273 |
62.371 |
|
Total |
37.273 |
62.371 |
OPERATIONS:
The Financial year 2012-13 was challenging for the company with growth slowing down in the agricultural sector. The GDP of the Indian economy stood at 5.6% with agriculture contributing about 2%. Power tillers industry, the flagship product of the company, witnessed 18% de-growth as this sector relies heavily on monsoon as well as Government subsidies and implementation of State led incentive schemes. The below normal monsoon across India, especially in Gujarat and Maharashtra where the company commands a major share resulted in lower sales.
Against these challenging time and despite of growing Competition, the company has maintained its performance reflecting marginal fall in Revenue from Operation by 10%, to Rs. 4021.400 Millions during the year under review from Rs. 4477.500 Millions in the previous year.
Consequent to this maintainable performance, the Profit for the year before Depreciation, Finance costs and Taxes recorded a decrease of 2.51% as a percentage to revenue from operations from 15.76% to 13.26%, at Rs. 533.200 Millions as against Rs. 705.800 Millions in the previous year, and Due to high Finance Cost and Deprecation Net profit after tax is also decreased to Rs. 148.400 Millions as against Rs. 320.000 Millions in the previous year.
FINANCE:
During the year, Company was sanctioned fresh term loan to the tune of Rs. 429.000 Millions for its expansion program and the Working Capital limits of the Company has also been enhanced to Rs. 650.000 Millions during the year under review.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
Bank Guarantee given by company |
16.304 |
18.059 |
|
Letter of credit |
0.000 |
60.785 |
FIXED ASSETS
v
Tangible
Assets
Land
Buildings
Plant
and Equipment
Furniture
and Fixtures
Vehicles
Motor
Vehicles
Computer
Equipments
Office
Equipment
Other
Equipments
v
Intangible assets
Brands
and Trade Marks
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 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] 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.62.18 |
|
|
1 |
Rs.102.31 |
|
Euro |
1 |
Rs.84.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
47 |
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.