MIRA INFORM REPORT
|
Report Date : |
30.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
CHAUHAN ICE AND COLD STORAGE LIMITED (w.e.f. 03.02.2003) |
|
|
|
|
Formerly Known
As : |
CHAUHAN RICE MILLS LIMITED |
|
|
|
|
Registered
Office : |
G T Road, Bewar, Mainpuri – 205001, Uttar Pradesh |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
15.05.2002 |
|
|
|
|
Com. Reg. No.: |
20-026661 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.8.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15312UP2002PLC026661 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
They provided cold storage facility for storage of potatoes. |
|
|
|
|
No. of Employees
: |
25 (Approximately) |
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 : |
Small Company |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a relatively small company in its field. It scale of
activities are limited. The rating takes into consideration company’s moderate net worth and
small scale of operations. However, trade relations are reported as fair. Business is active. Payment
terms are reported to be4 slow but correct. The company can be considered for business dealings with some caution.
|
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
N E W S
The economy grew 4.7 %in 2013/14, marking a second
straight year of sub-5 % growth – the worst slowdown in more than a quarter of
a century. The data was below an official estimate of 4.9 % annual growth and
compared with 4.5 % in the last fiscal year. However, the current account
deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic product,
in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before.A
sharp fall in gold imports due to restrictions on overseas purchases and muted
import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from
Russian Investment firm DST Global which has also invested in companies like
Facebook, Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has been
taken into custody. A year, ago the Kerala Police had arrested Pinckney and two
company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US
governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
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
|
Name : |
Mr. Pankaj S. Chauhan |
|
Designation : |
Director |
|
Contact No.: |
91-9756985000/ 9319326430 |
|
Date : |
26.06.2014 |
LOCATIONS
|
Registered Office : |
G T Road, Bewar, Mainpuri – 205001, Uttar Pradesh, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9756985000/ 9319326430 (Mr. Pankaj Sing Chauhan) |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
(AS ON 30.09.2013)
|
Name : |
Mr. Pankaj Singh Chauhan |
|
Designation : |
Director |
|
Address : |
G T Road, Bewar, Mainpuri – 205001, Uttar Pradesh, India |
|
Date of Birth/Age : |
15.07.1978 |
|
Date of Appointment : |
15.05.2002 |
|
DIN No.: |
01940994 |
|
|
|
|
Name : |
Ms. Sarika Singh |
|
Designation : |
Director |
|
Address : |
G T Road, Bewar, Mainpuri – 205001, Uttar Pradesh, India |
|
Date of Birth/Age : |
01.07.1979 |
|
Date of Appointment : |
15.05.2002 |
|
DIN No.: |
01940973 |
|
|
|
|
Name : |
Mr. Devendra Singh Rathore |
|
Designation : |
Director |
|
Address : |
By Pass Bewar District Mainpuri -206301, Uttar Pradesh, India |
|
Date of Birth/Age : |
04.10.1963 |
|
Date of Appointment : |
10.04.2003 |
|
DIN No.: |
01172138 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2013)
|
Name of
Shareholders |
|
No of
Shares |
|
|
|
|
|
Hakim Singh |
|
2000 |
|
Sarnam Singh |
|
2700 |
|
Rajesh Kumar |
|
2700 |
|
Bhoore Lal |
|
1500 |
|
Hari Lal Singh Chauhan |
|
1500 |
|
Rajendra Singh Chauhan |
|
4050 |
|
Pankaj Singh Chauhan |
|
10000 |
|
Veena Chauhan |
|
12000 |
|
Sarika Singh |
|
2000 |
|
Rajendra Singh |
|
3700 |
|
Devendra Singh Rathore |
|
3800 |
|
Ramesh Singh |
|
3700 |
|
Saktoo Lal Chauhan |
|
6800 |
|
Sushila Devi |
|
4250 |
|
Soni Gupta |
|
3000 |
|
Manju Rathore |
|
4400 |
|
Sudha Kushwah |
|
6000 |
|
Ajav Singh |
|
1500 |
|
Shama Chauhan |
|
2000 |
|
Raju Batham |
|
900 |
|
Ram Charan Lal |
|
1500 |
|
|
|
|
|
Total
|
|
80000 |
(AS ON 30.09.2013)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
26.00 |
|
Other top fifty shareholders |
|
74.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
They provided cold storage facility for storage of potatoes. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users |
|
|
|
|
No. of Employees : |
25 (Approximately) |
|
|
|
|
Bankers : |
· Bank of India Bewar Branch, Uttar Pradesh, India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
· Uttar Pradesh Financial Corporation 14/88, Civil Lines, Kanpur – 208023, Uttar Pradesh, India |
|
|
|
|
Auditors : |
|
|
Name : |
Mishra Rajiv Kamal and Associates (Dr. Rajiv Kamal Mishra) Chartered Accountants |
|
Address : |
Hari Darshan Nagar, Station Road, Mainpuri – 205001, Uttar Pradesh,
India |
|
Tel No.: |
91-5672-231899 |
|
Mobile No.: |
91-9412420555 |
|
PAN No.: |
ACUPM9236G |
CAPITAL STRUCTURE
(AS ON: 30.09.2013)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
81000 |
Equity Shares |
Rs.100/- each |
Rs.8.100 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
80000 |
Equity Shares |
Rs.100/- each |
Rs.8.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
8.000 |
8.000 |
8.000 |
|
(b) Reserves & Surplus |
1.001 |
0.396 |
1.443 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
2.084 |
2.084 |
2.084 |
|
Total
Shareholders’ Funds (1)+(2) |
11.085 |
10.480 |
11.527 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
5.200 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.000 |
0.000 |
5.200 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
0.000 |
0.000 |
0.000 |
|
(c) Other
current liabilities |
0.287 |
7.018 |
0.039 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
0.287 |
7.018 |
0.039 |
|
|
|
|
|
|
TOTAL |
11.372 |
17.498 |
16.766 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
6.083 |
6.852 |
7.724 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
6.083 |
6.852 |
7.724 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.402 |
0.062 |
0.062 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
4.317 |
10.014 |
5.163 |
|
(d) Cash
and cash equivalents |
0.489 |
0.356 |
0.987 |
|
(e) Short-term
loans and advances |
0.000 |
0.000 |
2.483 |
|
(f) Other
current assets |
0.081 |
0.214 |
0.347 |
|
Total
Current Assets |
5.289 |
10.646 |
9.042 |
|
|
|
|
|
|
TOTAL |
11.372 |
17.498 |
16.766 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
12.887 |
12.285 |
5.774 |
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL (A) |
12.887 |
12.285 |
5.774 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees Benefits Expense |
1.119 |
1.082 |
0.736 |
|
|
|
Other Expenses |
10.261 |
9.661 |
3.175 |
|
|
|
Preliminary Expenses |
0.133 |
0.133 |
0.133 |
|
|
|
TOTAL (B) |
11.513 |
10.876 |
4.044 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1.374 |
1.409 |
1.730 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.268 |
0.699 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.374 |
1.141 |
1.031 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.769 |
0.871 |
0.988 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
0.605 |
0.270 |
0.043 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.014 |
0.077 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
0.605 |
0.256 |
(0.034) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.57 |
3.19 |
(0.42) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
4.69 |
2.08 |
(0.59) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.69 |
2.20 |
0.74 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.32 |
1.54 |
0.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.03 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
18.43 |
1.52 |
231.85 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
8.000 |
8.000 |
8.000 |
|
Reserves & Surplus |
1.443 |
0.396 |
1.001 |
|
Share Application money
pending allotment |
2.084 |
2.084 |
2.084 |
|
Net worth |
11.527 |
10.480 |
11.085 |
|
|
|
|
|
|
long-term borrowings |
5.200 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
5.200 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.451 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from Operations |
5.774 |
12.285 |
12.887 |
|
|
|
112.764 |
4.900 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from Operations |
5.774 |
12.285 |
12.887 |
|
Profit |
(0.034) |
0.256 |
0.605 |
|
|
(0.59%) |
2.08% |
4.69% |
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 |
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
No |
------------------------------------------------------------------------------------------------------------------------------
ASSESSMENT OF WORKING CAPITAL REQUIREMENT
OPERATING STATEMENT
(RS. IN MILLIONS)
|
Particular |
31.03.2015 |
||
|
Projection |
|||
|
Gross Income |
|
||
|
a. |
Potato
Rent |
14.707 |
|
|
b. |
Rent on Vegetable and Fruits |
5.630 |
|
|
c. |
Chiling Charges |
-- |
|
|
|
Total |
|
20.337 |
|
Less : Excise duty |
-- |
||
|
Net Sales (1 -
2) |
20.337 |
||
|
|
|
||
|
% age rise (+)
or fall (-) in net sales as compared to previous year (annualized) |
7.26% |
||
|
|
|
||
|
Cost of Sales |
|
||
|
Raw materials (including stores & other items
used in the process of mfg.) |
|
||
|
Indigenous |
-- |
||
|
Imported |
-- |
||
|
|
|
||
|
Other Spares |
|
||
|
Imported |
-- |
||
|
Indigenous |
-- |
||
|
|
|
||
|
Power and Fuel |
12.812 |
||
|
Direct Labour (Wages & Salary) |
1.182 |
||
|
Other manufacturing expenses |
-- |
||
|
Depreciation |
0.680 |
||
|
SUB-TOTAL |
14.674 |
||
|
|
|
||
|
Add : Opening Stock-in-process |
-- |
||
|
Sub-total (vii +
viii) |
14.674 |
||
|
Deduct : Closing Stock-in-process |
-- |
||
|
Cost of
Production |
14.674 |
||
|
|
|
||
|
Add : Op. Stock of finished goods |
-- |
||
|
Sub-total (x +
xi) |
14.674 |
||
|
Deduct
: Cl. Stock of finished goods |
-- |
||
|
Sub-total (Total
Cost of Sales) |
14.674 |
||
|
|
|
||
|
Selling, general and administrative expenses |
4.418 |
||
|
Sub-total ( 5 +
6) |
19.092 |
||
|
|
|
||
|
Operating Profit Before Interest |
1.245 |
||
|
Interest |
0.750 |
||
|
Operating Profit After Interest |
0.495 |
||
|
|
|
||
|
Add : Other non-operating Income |
|
||
|
Commission |
-- |
||
|
Misc Income |
-- |
||
|
Scrap Sales |
-- |
||
|
Purchase of Shares |
-- |
||
|
Sub - Total
(Income) |
-- |
||
|
|
|
||
|
Deduct : Other non-operating
expenses |
|
||
|
Preliminary Expenses w/o |
0.081 |
||
|
Misc. expenses |
-- |
||
|
Director's Remuneration |
-- |
||
|
Sub - Total (Expenses) |
0.081 |
||
|
|
|
||
|
Net of other non-operating income/expense |
(0.081) |
||
|
Profit before tax/loss |
0.414 |
||
|
Provisions for taxes |
-- |
||
|
Net Profit /
Loss |
0.414 |
||
|
Equity dividend |
-- |
||
|
Dividend Rate (Including tax on dividend |
0.00% |
||
|
Retained Profit |
0.414 |
||
|
|
|
||
|
Retained Profit
/ Net Profit |
100.00% |
||
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS OF BALANCE SHEET
(RS. IN MILLIONS)
|
Particulars |
31.03.2015 |
|
|
Projection |
|
CURRENT LIABILITIES |
|
|
Short
term borrowings from bank (incl. Bills purchased, discounted & excess
borrowings placed on repayment basis) |
|
|
(i)
From applicant bank |
10.000 |
|
(ii)
From other banks |
-- |
|
(iii)
of which EP & BD |
-- |
|
Sub Total (A) |
10.000 |
|
|
|
|
Short
term borrowings from others |
-- |
|
|
|
|
Sundry
Creditors - Trade |
-- |
|
|
|
|
Advance
payments from customers/deposits from dealers |
-- |
|
|
|
|
Provision
for Taxation |
-- |
|
|
|
|
Dividend
Payable |
-- |
|
|
|
|
Other
statutory liabilities (due within one year)
|
-- |
|
|
|
|
Deposits/
Instalments of term loan/ DPGs/ Debentures, etc.(due within one year) |
-- |
|
|
|
|
Other
current liabilities & Provisions (due within one year) |
0.284 |
|
|
|
|
Sub Total (B) |
0.284 |
|
|
|
|
TOTAL CURRENT LIABILITIES |
10.284 |
|
|
|
|
TERM LIABILITIES |
|
|
Debentures
(Not maturing within one year) |
-- |
|
Preference
Shares (Redeemable after one year) |
-- |
|
Term
loans (Excluding instalments payable within one year) |
-- |
|
Differed
Payment Credits (Excl. instalments due within one year) |
-- |
|
Term
deposits (Repayable after one year) |
-- |
|
Other
term liabilities |
-- |
|
|
|
|
TOTAL TERM LIABILITIES |
-- |
|
|
|
|
TOTAL OUTSIDE LIABILITIES |
10.284 |
|
|
|
|
NET WORTH |
|
|
|
|
|
Share
Capital |
8.000 |
|
Share Application Money |
2.084 |
|
Capital
addition |
-- |
|
Other
Reserves (Excluding Provision) |
-- |
|
Surplus
(+) or deficit (-) in Profit & Loss Account |
1.158 |
|
|
|
|
TOTAL NET WORTH |
11.242 |
|
|
|
|
TOTAL
LIABILITIES |
21.526 |
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
Cash
& Bank balances |
0.173 |
|
|
|
|
Investments
(Other than long term Investments) Government
and Other Trustee Securities |
0.062 |
|
|
|
|
Inventories |
|
|
Raw
materials (including stores and other items in process of manufacture) |
|
|
(a)
Imported |
-- |
|
(b)
Indigenous |
-- |
|
Stock-in-process |
-- |
|
Finished
Goods |
-- |
|
Advance
to Cultivators |
15.888 |
|
Advance
payment of taxes |
-- |
|
Other
current assets |
-- |
|
|
|
|
TOTAL CURRENT ASSET |
16.123 |
|
|
|
|
FIXED ASSETS |
|
|
|
|
|
Gross
Block (Land
and Building Machinery Vehicles Work-In-Progress) |
19.700 |
|
|
|
|
Depreciation
to date |
14.297 |
|
|
|
|
NET BLOCK |
5.403 |
|
|
|
|
Investments/book
debts /advances deposits which are not current assets |
-- |
|
|
|
|
i.(a)Investments
in subsidiary companies/ affiliates |
-- |
|
(b)Others |
-- |
|
|
|
|
ii.
Advances to suppliers of capital goods and contractors |
-- |
|
iii.
Deferred receivables (maturity exceeding one year) |
-- |
|
iv.
Others |
-- |
|
|
|
|
Non
Consumables Stores and Spare |
-- |
|
|
|
|
Other
Non-Current Assets (Incl.
Dues from Director) |
-- |
|
|
|
|
TOTAL OTHER NON-CURRENT ASSETS |
-- |
|
|
|
|
Intangible
assets (patents, goodwill, prelim, expenses, bad/ doubtful debts not provided
for etc.) |
-- |
|
|
|
|
TOTAL
ASSETS |
21.526 |
|
|
|
|
Tangible
net worth |
11.242 |
|
|
|
|
NET WORKING CAPITAL |
5.839 |
|
|
|
|
CURRENT
RATIO |
1.57 |
|
|
|
|
Total
Term Liabilities/ Tangible Net worth |
0.91 |
|
|
|
|
ADDITIONAL INFORMATION |
|
|
A.
Arrears of depreciation |
-- |
|
B.
Contingent Liabilities: |
-- |
|
(a)
Arrears of cumulative dividends |
-- |
|
(b)
Gratuity liability not provided for |
-- |
|
(c)
Disputed excise/ customs/tax liabilities |
-- |
|
(d)
Other liabilities not provided for |
-- |
------------------------------------------------------------------------------------------------------------------------------
COMPARATIVE STATEMENT OF CURRENT ASSETS
& CURRENT LIABILITIES
(RS. IN MILLIONS)
|
Particulars |
31.03.2015 |
|
|
Projection |
|
A. CURRENT ASSETS: |
|
|
Raw materials (incl. Stores & other items used in the process of
manufacture) |
|
|
Imported |
0.000 |
|
-Month's Consumption |
-- |
|
Indigenous |
0.000 |
|
-Month's Consumption |
-- |
|
|
|
|
Other Consumable spares, excluding those included on 1 above |
|
|
Imported |
0.000 |
|
-Month's Consumption |
-- |
|
Indigenous |
0.000 |
|
-Month's Consumption |
-- |
|
|
|
|
Stock In Process |
0.000 |
|
-Month's Consumption |
-- |
|
|
|
|
Finished goods (months' cost of
production) |
0.000 |
|
-Month's Consumption |
-- |
|
|
|
|
Receivables other than export and deferred
receivables (Incl. Bills purchased & discounted by bankers) |
0.000 |
|
-Month's Domestic Sales : Excluding deferred payments sales |
-- |
|
|
|
|
Export Receivable |
0.000 |
|
Month’s Exports sales |
-- |
|
|
|
|
Advances to suppliers of raw materials and stores/ spares, consumables |
15.888 |
|
|
|
|
Other current assets incl. Cash and bank
bal. & deferred receivables due within 1 year |
0.235 |
|
|
|
|
TOTAL CURRENT ASSETS |
16.123 |
|
|
|
|
B. CURRENT
LAIBILITES (Other than bank
borrowings for working capital) |
|
|
Creditors for purchase of raw materials, stores & consumable
spares |
0.000 |
|
Month's purchases |
-- |
|
|
|
|
Advance From Customers |
0.000 |
|
|
|
|
Statutory
Liabilities |
0.000 |
|
|
|
|
Other
current liabilities & Provisions (due within one year) |
0.284 |
|
|
|
|
TOTAL CURRENT LIABILITIES |
0.284 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL
(RS. IN MILLIONS)
|
Particulars |
31.03.2015 |
|
|
Projection |
|
Total Current Assets |
16.123 |
|
|
|
|
Other Current Liabilities (other than bank
borrowings) |
0.284 |
|
|
|
|
Working Capital Gap (WCP) |
15.839 |
|
|
|
|
Minimum stipulated net working Capital -
25% of total current assets other than Export Receivables |
4.031 |
|
|
|
|
Actual/projected net working capital |
5.839 |
|
|
|
|
Item 3 minus item 4 |
11.808 |
|
|
|
|
Item 3 minus item 5 |
10.000 |
|
|
|
|
Maximum permissible bank finance (item 6 or
7 whichever is less) |
10.000 |
|
|
|
|
Excess borrowings, if any representing
short fall in NWC |
-- |
------------------------------------------------------------------------------------------------------------------------------
FUND FLOW STATEMENT
(RS. IN MILLIONS)
|
PARTICULARS |
31.03.2015 |
|
|
Projection |
|
Sources |
|
|
[a] Net profit |
0.414 |
|
[b] Depreciation |
0.680 |
|
[c] Increase in Capital |
-- |
|
[d] Increased in Term Liabilities (incl. Public deposits) |
-- |
|
[e] Decrease in |
|
|
[i] Fixed Assets |
-- |
|
[ii] Other non-current Assets |
-- |
|
[iii] Preliminary |
0.081 |
|
[f] Others |
-- |
|
[G] TOTAL |
1.175 |
|
|
|
|
Application |
|
|
[a] Net Loss |
-- |
|
[b] Decrease in Term Liabilities (Incl. Public deposits) |
-- |
|
[c] Increase in |
|
|
[i] Fixed Assets |
-- |
|
[ii] Other non-current Assets |
-- |
|
[iii]
Non Tangible Assets |
-- |
|
[d] Dividend Payments |
-- |
|
[e] Others |
-- |
|
[F] TOTAL |
-- |
|
|
|
|
Long Term Surplus (+) /
Deficit (-) |
1.175 |
|
|
|
|
+ /
(-) in current assets * (
As per details given below) |
1.219 |
|
|
|
|
+ /
(-) in current Liabilities other than bank borrowings |
0.044 |
|
|
|
|
+ /
(-) in working capital Gap |
1.175 |
|
|
|
|
Net Surplus (+) / deficit
(-) (Difference of 3 & 6) |
-- |
|
|
|
|
+ /
(-) in Bank Borrowings |
-- |
|
|
|
|
INCREASE/ DECREASE
IN NET SALES |
1.377 |
|
|
|
|
Break-up of (4) |
|
|
Increase/
Decrease in Raw Materials |
-- |
|
Increase/ Decrease in Stock in Process |
-- |
|
Increase/
Decrease in Advance to Cultivators |
1.145 |
|
Increase/ Decrease in Receivables |
-- |
|
Increase/ Decrease in Storage and Spares |
-- |
|
Increase/ Decrease in Other Current Assets
|
0.074 |
|
Sub-Total |
1.219 |
------------------------------------------------------------------------------------------------------------------------------
NETWORTH STATEMENT
(MR. PANKAJ SINGH
CHAUHAN)
(RS. IN MILLIONS)
|
Name of Assets |
Amount |
|
Land at Chauhan Ice
and cold Storage |
0.160 |
|
Land at
Kayamganj |
0.312 |
|
Residential
House at Nekamau, Bewar, Mainpuri |
0.600 |
|
Residential Plot
at Devpura, Station Road, Mainpuri |
0.330 |
|
Plot at Bewar,
Mainpuri |
0.326 |
|
Plot at
Kajitola, Bewar, Mainpuri |
0.088 |
|
Shop at Bewar,
Mainpuri |
0.246 |
|
Invetsment in
Rice Mill |
1.828 |
|
Car HR 29 X 4933 |
1.520 |
|
Car UP 84 L 0007 |
1.139 |
|
Share in Chauhan Ice and Cold Storage |
1.512 |
|
K. K. G. B. A/C
No.2600 |
1.113 |
|
S.B.I. A/C No.
11435830174 |
0.789 |
|
B.O.I. A/C
No.77031010018163 |
0.772 |
|
Cash in Hand |
0.396 |
|
|
|
|
TOTAL NET WORTH |
RS.11.131 MILLIONS |
------------------------------------------------------------------------------------------------------------------------------
NETWORTH STATEMENT
(MR. DEVENDRA
SINGH RATHORE)
(RS. IN MILLIONS)
|
Name of Assets |
Amount |
|
Share in M/s Pawan
Ice and Cold Storage Limited, Bewar, Mainpuri |
0.096 |
|
|
|
|
Share in M/s
Chauhan Ice and Cold Storage Limited, Bewar, Mainpuri |
0.440 |
|
|
|
|
Cash and Bank
Balance |
0.033 |
|
|
|
|
TOTAL NET WORTH |
RS.0.569 MILLIONS |
------------------------------------------------------------------------------------------------------------------------------
NETWORTH STATEMENT
(MRS. SARIKA SINGH
RATHORE)
(RS. IN MILLIONS)
|
Name of Assets |
Amount |
|
Land at Chauhan Ice
and Cold Storage |
0.081 |
|
Agriculture Land
at Badahar, Bewar Mainpuri |
0.053 |
|
Share in M/s
Pawan Ice and Cold |
0.015 |
|
Storage Limited,
Bewar, Mainpuri |
0.218 |
|
Agriculture
Income |
0.158 |
|
K.K.G.B. |
0.033 |
|
S.B.I. A/c No.
3076748042 |
0.974 |
|
B.O.I. A/c
No.770310100031691 |
1.108 |
|
Cash in Hand |
0.066 |
|
|
|
|
TOTAL NET WORTH |
RS.2.706 MILLIONS |
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT
|
Purpose for which valuation is made |
For Bank of India, Bewar Branch, Mainpuri |
|
|
|
|
Date on which valuation is made |
10.03.2014 |
|
|
|
|
Brief Description of the Property |
The above said property is a Cold Storage
Builidng Having area 19800.00 sq. mt. (5Kh Nos) |
|
|
|
|
Boundaries (Over all properties) |
East – Pankaj Singh West – Satendra Singh North – NH-91 South – L/O Satendra Singh |
|
|
|
|
Boundaries of the Property |
Kh. No.183, Part Kh No 181 (0.486 Hectare) East – P/O Satendra Singh etc. West – P/O Pankaj Singh Chauhan North – Road South – P/O Satendra Singh etc. Kh No.181 (Part) (0.093 Hectare) East – P/O Pankaj Singh Chauhan West – P/O Satendra Singh etc. North – Road South – P/O Satendra Singh etc. Kh No.207A, 207B, 182, 185 (1.401 Hectare) East – L/O Jai Pal Singh etc. West – L/O Devenra Singh North – Road South – L/O Satendra Singh |
|
|
|
|
Whether covered under Corporation/
Panchayat/ Municipality |
In Rural Limit |
|
|
|
|
Whether covered under any land ceiling of
State Govt. / Centre Govt. |
No |
|
|
|
|
It is freehold or lease hold land? |
Freehold |
|
|
|
|
Is there any restrictive covenant in regard
to use of land? |
Abadi Land |
|
|
|
|
Is the property situated in Residential/
Commercial/ |
Developed Area |
|
|
|
|
Classification of the site |
|
|
Population Group |
Rural Area |
|
High/ Medium Class/ Poor Class |
Middle Class |
|
Residential/ Non Residential |
Non Residential |
|
Development of Surrounding area |
Developed |
|
Possibility of any threat to the property
(Flood, Claminities etc. |
No |
|
|
|
|
Proximity to civic amenities like school
hospitals offices. |
Within 2.0 km distance |
|
|
|
|
Terrain of land |
Plain |
|
|
|
|
Whether the plots is intermittent or corner |
Intermittent plot |
|
|
|
|
Roads, streets on which the land is abutting
|
NH 91 Road |
|
|
|
|
Front width of the Road |
About 100.00 ft Road |
|
|
|
|
Source of water and water potentiality |
Ground Water |
|
|
|
|
Availability of power supply |
By REB Feeder |
|
|
|
|
Give Instances of sales of immovable
property in the locality on a separate sheet, indicating, registration no
sale price and area of land sold. |
No required |
|
|
|
|
The above said property is valued on the basis of land and cost of prop
method. The circle rate of this area is Rs.1800.00 per sq. yd. and actual
market rate of this area is Rs.1200.00 per sq. mt. |
|
|
|
|
|
Is the building owner occupied/ Tenanted/
Both? |
Owner Occupied |
|
|
|
|
If partly owner occupied, specify portion and
extent of area under owner occupied. |
Fully Owner Occupied |
|
|
|
|
PROPERTY DETAILS |
|
|
Part – I (Valuation of Land) |
|
|
Dimension of Plot |
N.A. |
|
Total Area of plot |
19800.00 sq. mt. |
|
Prevailing Market Rate |
Rs.1200.00 per sq. mt. |
|
Guide Line rate obtained from the |
Rs.1800.00 per sq. mt. |
|
Assessed adopted rate of valuation |
As in item no.3 |
|
Estimated value of the land |
Rs.23.760 Millions |
|
|
|
|
Part – II (Valuation of the Building Property) |
|
|
Type of Building |
Cold Storage |
|
Year of construction |
About 10 year old const |
|
Future life of the Property |
About 50 year |
|
No of Floor and |
One |
|
Height of Each Floor |
3.00 mt. ht to 17.00 mt ht. |
|
Type of construction load bearing R.C.C. Frame,
Steel Frame |
Framed structure / Load Bearing |
|
Condition of the Building |
Good |
|
Internal Condition |
Good |
|
Whether the property is constructed strictly
according to the sanctioned plan, details of variation notice if any and
effect of the same on the valuation |
Yes |
|
|
|
|
Specification of Construction |
|
|
Type of foundation |
Isolated Footings |
|
|
|
|
Superstructure |
Framed / Load Bearing Structure |
|
|
|
|
Flooring |
C.C/ Brick Flooring |
|
|
|
|
Roof Work |
Ordinary |
|
|
|
|
Joinery |
M.S / Wood |
|
|
|
|
Any Special Finishing |
N.A. |
|
|
|
|
Whether any weather proof Course is provided
|
N.A. |
|
|
|
|
Compound Wall Height and Length Type of Construction |
7’ht B.W |
|
|
|
|
Electric Installation |
Ordinary |
|
|
|
|
Plumbing Installation |
Ordinary |
|
|
|
|
Wardrobes, If any |
N.A. |
|
|
|
|
Open Area |
N.A. |
|
|
|
|
Details of Valuation |
|
|
Cost of Land: Area of land 19800.00 sq. mt. @ Rs.1200.00
per sq. mt. = Rs.23.760 Millions (A) |
|
|
Cost of Const.: |
|
|
Covered area of 2 chambers (7 stages) |
|
|
1148.14 sq. mt. @ Rs.20000.00 per sq. mt. |
Rs.22.963 Millions |
|
G.F. Verandah Covered area 1196.65 sq. mt. @ Rs.4000.00 per sq. mt. |
Rs.4.787 Millions |
|
M/C Rm covered area 117.10 sq. mt. @ Rs.5000.00 per sq. mt. |
Rs.0.586 Million |
|
Ice Plant covered area 131.04 sq. mt. @ Rs.5000.00 per sq. mt. |
Rs.0.655 Million |
|
Condensing Tank @ L.S. |
Rs.0.300 Million |
|
Add for 7’ Ht Boundary Wall L.S. |
Rs.0.300 Million |
|
Guard RM and Labour Quarters L.S. |
Rs.1.000 Million |
|
|
|
|
Total |
Rs.30.590 Millions |
|
|
|
|
Depreciation -1.5x10= 15.00% i.e Rs.4.589
Millions Total Value of Const. Rs.26.002 Millions
(B) Total Value of Prop (A) + (B) = Rs.49.762 Millions The overall fair market value of the property is rs.49.762 Millions The realisable sale value of the property after consideration all
facts is – Rs.44.786 Millions Distress value – Rs.44.786 Millions Value of the Property as per circle rate is = Rs.61.642 Millions |
|
------------------------------------------------------------------------------------------------------------------------------
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
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.60.10 |
|
|
1 |
Rs.102.40 |
|
Euro |
1 |
Rs.81.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
27 |
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.