MIRA INFORM REPORT
|
Report Date : |
17.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
PARAKH AGRO INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
Gate No. 45/ 1, 2, 3, Village Bhandgoan, Taluka Daund, Bhandgoan – 412214,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
20.07.1987 |
|
|
|
|
Com. Reg. No.: |
25-132583 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 480.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U01403PN1987PLC132583 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEP00528D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCP0314L |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of FMCG Commodities like Wheat Products,
Chakki Atta, all types of Pulses and Besan, Packaging Film and Energy
Generation (Windmill). |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4650000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be sound and
healthy. Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered 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.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may grow
4.7 % in the current financial year, lower than the official estimate of 4.9 %,
Fitch Rating said. The global rating agency expects the economy to pick up in
the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loan : BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
March 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non-fund based : A3+ |
|
Rating Explanation |
Moderate degree of safety and high credit
risk. |
|
Date |
March 2014 |
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. Tapse |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-20-66296100 |
|
Date : |
14.06.2014 |
LOCATIONS
|
Registered Office/ Factory 1 : |
Gate No. 45/ 1, 2, 3, Village Bhandgoan, Taluka Daund, Bhandgoan –
412214, Maharashtra, India |
|
Tel. No.: |
91-2119-275377 |
|
Fax No.: |
91-2119-275775 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Parakh House, 01 Boat Club Road, Pune – 400001, Maharashtra,
India |
|
Tel. No.: |
91-20-24261733/ 66296100 |
|
Fax No.: |
91-20-24263211/ 66296199 |
|
|
|
|
Branch Office : |
Plot No. D-230, T.T.C. Industrial Area, Thane Belapur Road, Opposite
Tata Press, Shirawane – 400613, Maharashtra, India |
|
Tel. No.: |
91-22-27632745-47/ 27685702 |
|
Fax No.: |
91-22-27632755 |
|
|
|
|
Factory 2 : |
Village Devnave, Pali Road, Khopoli, Tal-Khalapur,
District Raigad – 410203, Maharashtra, India |
|
|
|
|
Factory 3 : |
Food Processing Park, Plot No.93-142 A.B. Road, Nimrani,
Tahsil-Kasravad, District Khargaon, Madhya Pradesh, India |
|
|
|
|
Factory 4 : |
Plot No. 812 and 813, Sector No. III, Pithampur Industrial Area,
District Dhar, |
|
|
|
|
Factory 5 : |
Plot No. 73, Taloja Industrial Area, Village - Tongre,
Taluka Panvel, District Raigad, Maharashtra, India |
|
|
|
|
Factory 6 : |
Plot No. D-230, T. T. C. Industrial Area, Thane-Belapur Road, Opposite Tata Press, Shirawane, Maharashtra, India |
DIRECTORS
AS ON 31.07.2013
|
Name : |
Mr. Prakash Harakchand Parakh |
|
Designation : |
Managing director |
|
Address : |
584/1, Salibury Park, Pune – 411001, Maharashtra, India |
|
Date of Birth/Age : |
23.03.1956 |
|
Qualification : |
Under Graduate |
|
Date of Appointment : |
20.07.1987 |
|
PAN No.: |
AAXPP9219R |
|
DIN No.: |
00337188 |
|
|
|
|
Name : |
Mr. Suresh Harakchand Parakh |
|
Designation : |
Managing director |
|
Address : |
584/1, Salibury Park, Pune – 411001, Maharashtra, India |
|
Date of Birth/Age : |
15.04.1963 |
|
Qualification : |
Under Graduate |
|
Date of Appointment : |
20.07.1987 |
|
PAN No.: |
AAXPP9220A |
|
DIN No.: |
00337190 |
|
|
|
|
Name : |
Mr. Mahavir Rikhabchand Dugad |
|
Designation : |
Whole-time director |
|
Address : |
208/ 5647, Anita Kutir Housing Society, Pant Nagar, Santacruz (East),
Mumbai – 400075, Maharashtra, India |
|
Date of Birth/Age : |
09.09.1972 |
|
Qualification : |
Under Graduate |
|
Date of Appointment : |
01.04.2009 |
|
PAN No.: |
AAIPD4289Q |
|
DIN No.: |
02687353 |
|
|
|
|
Name : |
Mr. Mahendra Deepchand Lunawat |
|
Designation : |
Whole-time director |
|
Address : |
A/P, Shilphata Khopoli, Taluka Khalapur, Raigad, Shilphata – 410203,
Maharashtra, India |
|
Date of Birth/Age : |
01.05.1965 |
|
Qualification : |
Under Graduate |
|
Date of Appointment : |
01.04.2009 |
|
PAN No.: |
ABHPL6961H |
|
DIN No.: |
02696183 |
|
|
|
|
Name : |
Mr. Vinay Ganpatrao Nalawade |
|
Designation : |
Whole-time director |
|
Address : |
3/TI Models Residency, Nt St Ines Church St Ines, Panji – 403002, Goa,
India |
|
Date of Birth/Age : |
20.10.1968 |
|
Qualification : |
B.E., M.B.A |
|
Date of Appointment : |
01.04.2009 |
|
PAN No.: |
ABMPN6001B |
|
DIN No.: |
02696856 |
|
|
|
|
Name : |
Mr. Harshal Suresh Parakh |
|
Designation : |
Whole-time director |
|
Address : |
584/1, Salisbury Park, Pune – 411037, Maharashtra, India |
|
Date of Birth/Age : |
19.06.1988 |
|
Qualification : |
Post Graduate |
|
Date of Appointment : |
01.08.2012 |
|
PAN No.: |
AOXPP4819B |
|
DIN No.: |
05357867 |
KEY EXECUTIVES
|
Name : |
Mr. Tapse |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.07.2013
|
Names of Shareholders |
|
No. of Shares |
|
Parakh Kesharchand Harakchand |
|
960000 |
|
Parakh Harakchand Prakash |
|
12219975 |
|
Parakh Harakchand Suresh |
|
11246650 |
|
Parakh Harakchand Patashibai |
|
960000 |
|
Parakh Prakash Asha |
|
5700000 |
|
Parakh Suresh Anju |
|
4800000 |
|
Parakh Suresh Harshal |
|
3496650 |
|
Parakh Suresh Mayank |
|
3496650 |
|
Parakh Prakash Akash |
|
5120075 |
|
|
|
|
|
Total |
|
48000000 |
AS ON 31.07.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of FMCG Commodities like Wheat Products,
Chakki Atta, all types of Pulses and Besan, Packaging Film and Energy
Generation (Windmill). |
||||
|
|
|
||||
|
Products/ Services : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||
|
Bankers : |
· Corporation Bank and Consortium Members Aditi Commerce Centre, Gen. Thimmayya Road Camp, Pune - 411001, Maharashtra, India · Indian Overseas Bank Pune Cantonment Branch, Wonderland, 7 M G. Road, Pune - 411001, Maharashtra, India |
|||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
· Axis Trustee Services Limited Axis House, 2nd Floor, Bombay Dyeing Mills Compound,
Pandurang Budhkar Marg, Worli, Mumbai - 400025, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
MZSK and Associates Chartered Accountants |
|
Address : |
Level 3, Business Bay, Plot No 84, Wellesley Road, Near
RTO, Pune – 411001, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFK3470E |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
· Emkay Agencies Limited · Parakh Oils Limited [U15142PN1993PLC071164] · Parakh International Limited [U51101PN1993PLC075425] · Gemini Developers · Arihant Developers ·
Samrat Developers |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
48,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 480.000 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 |
480.000 |
480.000 |
480.000 |
|
(b) Reserves & Surplus |
682.976 |
513.039 |
388.281 |
|
(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) |
1162.976 |
993.039 |
868.281 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1082.230 |
841.354 |
902.276 |
|
(b) Deferred tax liabilities (Net) |
200.915 |
198.849 |
199.852 |
|
(c)
Other long term liabilities |
0.000 |
70.967 |
56.619 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
1283.145 |
1111.170 |
1158.747 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
709.251 |
1088.845 |
259.214 |
|
(b)
Trade payables |
505.831 |
401.490 |
369.222 |
|
(c)
Other current liabilities |
435.286 |
332.761 |
593.499 |
|
(d)
Short-term provisions |
0.000 |
0.000 |
15.036 |
|
Total
Current Liabilities (4) |
1650.368 |
1823.096 |
1236.971 |
|
|
|
|
|
|
TOTAL |
4096.489 |
3927.305 |
3263.999 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
2002.749 |
1948.456 |
1922.988 |
|
(ii)
Intangible Assets |
0.072 |
0.087 |
0.000 |
|
(iii)
Capital work-in-progress |
71.088 |
184.164 |
11.866 |
|
(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 |
41.565 |
28.742 |
23.480 |
|
(e)
Other Non-current assets |
1.353 |
30.478 |
0.000 |
|
Total
Non-Current Assets |
2116.827 |
2191.927 |
1958.334 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
1.185 |
3.324 |
3.695 |
|
(b)
Inventories |
949.489 |
826.375 |
558.973 |
|
(c)
Trade receivables |
515.479 |
444.435 |
346.512 |
|
(d)
Cash and cash equivalents |
183.484 |
135.155 |
110.349 |
|
(e)
Short-term loans and advances |
120.277 |
102.507 |
89.056 |
|
(f)
Other current assets |
209.748 |
223.582 |
197.080 |
|
Total
Current Assets |
1979.662 |
1735.378 |
1305.665 |
|
|
|
|
|
|
TOTAL |
4096.489 |
3927.305 |
3263.999 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
12210.441 |
9669.157 |
8241.778 |
|
|
|
Other Income |
27.144 |
13.223 |
12.288 |
|
|
|
TOTAL (A) |
12237.585 |
9682.380 |
8254.066 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
10083.825 |
7817.597 |
6786.336 |
|
|
|
Purchases of stock-in-trade |
67.942 |
28.227 |
48.758 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and stock-in-trade |
7.988 |
(74.125) |
(60.286) |
|
|
|
Employee benefit expense |
176.208 |
154.494 |
129.719 |
|
|
|
Other expenses |
1310.603 |
1213.634 |
941.800 |
|
|
|
TOTAL (B) |
11646.566 |
9139.827 |
7846.327 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
591.019 |
542.553 |
407.739 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
217.903 |
238.854 |
174.702 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
373.116 |
303.699 |
233.037 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
198.480 |
178.050 |
157.593 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
174.636 |
125.649 |
75.444 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
4.699 |
0.691 |
(9.585) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
169.937 |
124.758 |
85.029 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
97.590 |
40.585 |
6.953 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1542.275 |
643.649 |
|
|
|
|
Capital Goods |
1.663 |
71.310 |
|
|
|
TOTAL IMPORTS |
1543.938 |
714.959 |
NA
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.54 |
2.60 |
1.77 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.39
|
1.29 |
1.03 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.43
|
1.30 |
0.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.34
|
3.36 |
2.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.13 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.54
|
1.94 |
1.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.20
|
0.95 |
1.06 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
480.000 |
480.000 |
480.000 |
|
Reserves & Surplus |
388.281 |
513.039 |
682.976 |
|
Net
worth |
868.281 |
993.039 |
1162.976 |
|
|
|
|
|
|
long-term borrowings |
902.276 |
841.354 |
1082.230 |
|
Short term borrowings |
259.214 |
1088.845 |
709.251 |
|
Total
borrowings |
1161.490 |
1930.199 |
1791.481 |
|
Debt/Equity
ratio |
1.338 |
1.944 |
1.540 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
8241.778 |
9669.157 |
12210.441 |
|
|
|
17.319 |
26.282 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
8241.778 |
9669.157 |
12210.441 |
|
Profit |
85.029 |
124.758 |
169.937 |
|
|
1.03% |
1.29% |
1.39% |
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 |
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 |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
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 |
10496546 |
06/05/2014 |
45,000,000.00 |
INDIAN OVERSEAS BANK |
PUNE CANTONMENT BRANCH, WONDERLAND, 7 MG. ROAD, PUNE - 411001, MAHARASHTRA, INDIA |
C05114384 |
|
2 |
10297799 |
06/02/2013 * |
3,609,800,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B69266278 |
|
3 |
10200326 |
13/04/2010 * |
70,000,000.00 |
AXIS BANK LIMITED |
1262/ B STERLING PLAZA, JANGLI MAHARAJ ROAD, DECCAN GYMKHANA BRANCH, PUNE - 411004, MAHARASHTRA, INDIA |
A86921202 |
|
4 |
10121338 |
18/08/2008 * |
230,000,000.00 |
AXIS BANK LIMITED |
1262/ B STERLING PLAZA, JANGLI MAHARAJ ROAD, DECCAN GYMKHANA BRANCH, PUNE - 411004, MAHARASHTRA, INDIA |
A47293063 |
|
5 |
10121337 |
24/05/2011 * |
1,170,000,000.00 |
CORPORATION BANK & CONSORTIUM MEMBERS |
ADITI COMMERCE
CENTRE, GEN. THIMMAYYA ROAD CAMP, |
B16269714 |
|
6 |
10023198 |
28/09/2006 |
310,000,000.00 |
BANK OF INDIA TOKYO
BRANCH THROUGH ITS PUNE CORPOR |
1162/6 SHIVAJI NAGAR, UNIVERSITY ROAD, PUNE - 411005, MAHARASHTRA, INDIA |
A05910328 |
|
7 |
10004229 |
29/06/2006 * |
219,500,000.00 |
UTI BANK LIMITED |
KAMAL PALACE, 1 YASHWANT COLONY, Y.N.ROAD, INDORE - 452001, MADHYA PRADESH, INDIA |
A01254986 |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Rupee term loans from banks |
100.000 |
300.000 |
|
Loans and advances from related parties |
57.847 |
4.205 |
|
SHORT TERM BORROWINGS |
|
|
|
Rupee term loans from banks |
704.567 |
302.930 |
|
Term loans from others |
0.000 |
169.606 |
|
Loans repayable on demand |
0.000 |
100.308 |
|
|
|
|
|
Total |
862.414 |
877.049 |
CHANGE OF ADDRESS
The Registered Office of the company has been shifted
from Parakh House, Plot No.1 and 2, Market Yard, Gultekdi, Pune – 411037,
Maharashtra, India to the present address w.e.f.01.03.2013.
CORPORATE INFORMATION
Subject is a Public Limited Company domiciled in India and incorporated under the provisions of Companies Act, 1956. It is a unlisted company. The Company is engaged in the manufacturing FMCG commodities like manufacturing of Wheat products, Chakki Atta, all types of Pulses & Besan, Packaging Film & Energy Generation (Windmill). The Company caters to both Domestic & International markets.
CURRENT BUSINESS
OPERATIONS AND FUTURE OUTLOOK
The performance of all factories located at various
locations is quite satisfactory, and the Directors are confident to perform better
in the years to come. The Net Sales of the Company during the Year were Rs.
12210.400 Millions as against Rs. 9669.200 Millions of the previous Year
resulting in an increase of 26.45% approx. The Net Profit before Tax was also
higher at Rs. 174.600 Millions, as against Rs. 125.600 Millions, of the
previous Year resulting in an increase of 39% approx. The Company could achieve
the higher profitability mainly because of the better market conditions for the
part of the Year, and that it could achieve the higher Sales with the same
resources.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
|
|
|
|
Performance Bank Guarantee offered |
40.591 |
23.233 |
|
Financial Bank Guarantee |
8.474 |
13.474 |
|
|
|
|
|
Total |
49.065 |
36.707 |
FIXED ASSETS:
· Land
· Buildings
· Factory 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 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. 60.01 |
|
|
1 |
Rs. 102.00 |
|
Euro |
1 |
Rs. 81.25 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--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.