MIRA INFORM REPORT
|
Report Date : |
21.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
NETAFIM IRRIGATION INDIA PRIVATE LIMITED (w.e.f. 14.07.1998) |
|
|
|
|
Formerly Known
As : |
EXCEL DRIP AND AGRISERVICES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 268-270, 271/B, GIDC, Manjusar, Savli, Vadodara-391775,
Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation
: |
25.09.1997 |
|
|
|
|
Com. Reg. No.: |
04-050144 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.83.098 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U01100GJ1997PTC050144 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACE4738J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Micro Irrigation Systems. |
|
|
|
|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4941000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is a subsidiary of “Netafim Limited, Israel”. It is an
established and reputed company having fine track record. The company possesses a favorable financial profile marked by decent
networth position whereas, the high sales receivables and deteriorating cash
reserves may act as a threat to the liquidity. Management has reported a drastic dip in its net profitability during
2013, mainly due to volatility in raw material prices. The ratings also take into consideration the continued pressure on
profitability along with working capital intensive operations which has
further increased the reliance on external funding to meet incremental
working capital requirements. However, trade relations are fair. Business is active. Payment terms
are reported as regular. In view of strong operational and financial support from its parent
company and established market position, the subject 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.
INDIAN ECONOMIC OVERVIEW
State-run banks hired nearly
300000 personnel including more than 94000 officers in the last four years,
according to the Indian Banks Association. A study by trade lobby Assocham in September
2013 indicated that banks would need 800000 people in the next six years. It
estimated that state-run lenders alone would hire 50000 people in 2013/14.
The Competition Commission of
India plans to issue final orders within a broad time-frame of one year in
matters where it decides to carry out detailed investigations. The number of
complaints received by the watchdog which keeps tabs on unfair trade practices
in the marketplace.
The government has detected
custom tax evasion totaling around Rs 37920 mn in 14 states until December.
Maharashtra topped the list of Rs 14190 mn followed by Andhra Pradesh at Rs
8140 mn, Gujarat Rs 5240 mn, Karnataka Rs 1670 mn and Tamilnadu Rs 1610 mn.
Connaught Place in New Delhi
slipped four notches to become the world’s eighth most expensive office
locations. London’s West End is the world’s most expensive office market.
There are 4.072 mn number of
high value spenders under the scanner of the income tax department. The income
tax department has information that they have made cash deposits announcing to
Rs 1 mn or more in their savings bank accounts in the current financial year.
It plans to check potential evasion before the closing of the financial year on
March 31.
Estimated pharmaceutical sales
in the country for 2016 is $ 27 bn. It is 14.4 per cent higher than a year ago.
The life sciences and health care industry is up against challenges such as
quality management, says a recent Deloitte report.
The gross non-performing assets
of listed banks rose 35.2 % to Rs 2.43 lakh crore during the first three months
of the financial year. In absolute terms, the 40 listed banks added Rs 3386
crore to their gross NPAs in nine months with the State Bank of India leading
with the State Bank of India leading with an accretion of Rs 16610 crore.
The inflow of smuggled gold
doubled in 2013 following restrictions to curb the supply from official
channels to contain the current account deficit. China surpassed India in the
demand for gold for the first time in 2013 due to liberalization of gold
trading norms by its local governments.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
A – [Long Term] |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
30.08.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A1 [Short Term] |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
30.08.2013 |
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 DENIED
MANAGEMENT NON CO-OPERATIVE (91-2667-264602)
LOCATIONS
|
Registered Office : |
Plot No. 268-270, 271/B, GIDC, Manjusar, Savli, Vadodara-391775,
Gujarat, India |
|
Tel. No.: |
91-2667-264601 |
|
Fax No.: |
91-2667-264600 |
|
E-Mail : |
|
|
|
|
|
Head Office / Factory 1 : |
268-270, GIDC, Manjusar, Savli, District Vadodara-391775, Gujarat,
India |
|
Tel. No.: |
91-2667-264601/602 |
|
Fax No.: |
91-2667-264600 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
P 38/1, Central Avenue, Domestic Tariff Area, Mahindra World City, Natham
(Sub. P.O.) Chengalpet (T.K.), Kancheepuram (D.T.), Chennai-603002,
Tamilnadu, India |
|
Tel No.: |
91-44-27460128 |
|
Fax No.: |
91-44-27460217 |
|
|
|
|
Regional Office : |
Located At:
|
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Randhirsinh Abasinh Chauhan |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 12, Second Floor, Vaikunth Society Behind Reliance Petrol Pump,
Gatari Road, Vadodara-390021, Gujarat, India |
|
Date of Birth/Age : |
17.11.1970 |
|
Date of Appointment : |
30.10.2006 |
|
Din No.: |
00987092 |
|
|
|
|
Name : |
Mr. Igal Herman Aisenberg |
|
Designation : |
Director |
|
Address : |
26, Menorah Apartment, 6 Tel Aviv, Jaffa – 69416, Israel |
|
Date of Birth/Age : |
17.10.1948 |
|
Date of Appointment : |
15.10.2012 |
|
Din No.: |
06418691 |
|
|
|
|
Name : |
Setumadhav Rangarao Potdar |
|
Designation : |
Director |
|
Address : |
Plot No. D, Flat 8, Wing D, Ram Kutir, Bangur Nagar, Near Link Road,
Goregaon (West), Mumbai-400062, Maharashtra, India |
|
Date of Birth/Age : |
01.05.1953 |
|
Date of Appointment : |
01.03.2007 |
|
Din No.: |
00228617 |
|
|
|
|
Name : |
Alon Jacob Teichtal |
|
Designation : |
Director |
|
Address : |
Netafim Limited, Corporate Head Quarters, Derech, Hashalom 10, Tel
Aviv, Israel, Pin Code 67892 |
|
Date of Birth/Age : |
27.01.1963 |
|
Date of Appointment : |
08.03.2010 |
|
Din No.: |
02891046 |
KEY EXECUTIVES
|
Name : |
Tauseef Nuruddin Shaikh |
|
Designation : |
Secretary |
|
Address : |
3/305, Ganesh Krupa Building, A Wing, Near Canara Bank, Mumbai-400612,
Maharashtra, India |
|
Date of Birth/Age : |
21.12.1984 |
|
Date of Appointment : |
03.09.2012 |
|
Pan No.: |
BOLPS7887H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Netafim Limited, Israel |
8309824 |
|
Fischer Behar Chen and Company, Israel |
1 |
|
|
|
|
Total |
8309825 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Micro Irrigation Systems. |
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Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Lovelock and Lewes Chartered Accountants |
|
Address : |
252 Veer Savarkar
Marg, Next to Mayor's Bungalow, Shivaji Park, Dadar, Mumbai - 400028,
Maharashtra, India |
|
PAN
No. : |
AABFL5878L |
|
|
|
|
Holding Company : |
Netafim Limited, Israel |
|
|
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|
Fellow Subsidiaries : |
|
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9000000 |
Equity Shares |
Rs.10/- each |
Rs.90.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8309825 |
Equity Shares |
Rs.10/- each |
Rs.83.098 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 |
83.098 |
83.098 |
83.098 |
|
(b) Reserves & Surplus |
1152.332 |
1151.226 |
979.939 |
|
(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) |
1235.430 |
1234.324 |
1063.037 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
11.481 |
38.116 |
15.783 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
4.928 |
8.631 |
3.799 |
|
(d) long-term provisions |
50.057 |
46.322 |
55.104 |
|
Total
Non-current Liabilities (3) |
66.466 |
93.069 |
74.686 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term borrowings |
489.343 |
403.225 |
221.293 |
|
(b) Trade payables |
2554.811 |
2138.655 |
1353.279 |
|
(c) Other current liabilities |
628.567 |
472.218 |
253.611 |
|
(d) Short-term provisions |
10.519 |
5.970 |
6.603 |
|
Total
Current Liabilities (4) |
3683.240 |
3020.068 |
1834.786 |
|
|
|
|
|
|
TOTAL |
4985.136 |
4347.461 |
2972.509 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i) Tangible assets |
760.504 |
488.870 |
467.677 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
11.009 |
|
(iii) Capital work-in-progress |
0.670 |
242.139 |
1.409 |
|
(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) |
18.936 |
19.260 |
12.664 |
|
(d) Long-term Loan
and Advances |
180.905 |
149.902 |
116.013 |
|
(e) Other Non-current assets |
79.480 |
34.745 |
26.213 |
|
Total
Non-Current Assets |
1040.495 |
934.916 |
634.985 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1416.477 |
1353.851 |
946.028 |
|
(c) Trade receivables |
2239.275 |
1705.279 |
1200.198 |
|
(d) Cash and cash equivalents |
152.038 |
200.527 |
99.884 |
|
(e) Short-term loans and advances |
132.732 |
144.524 |
91.414 |
|
(f) Other current assets |
4.119 |
8.364 |
0.000 |
|
Total
Current Assets |
3944.641 |
3412.545 |
2337.524 |
|
|
|
|
|
|
TOTAL |
4985.136 |
4347.461 |
2972.509 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
6860.100 |
5567.620 |
4117.114 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
6481.460 |
5037.000 |
3526.868 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
378.640 |
530.620 |
590.246 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
255.420 |
185.650 |
127.015 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION
|
123.220 |
344.970 |
463.231 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
109.920 |
88.560 |
71.975 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
13.300 |
256.410 |
391.256 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
12.190 |
85.130 |
109.860 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
1.110 |
171.280 |
281.396 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
46.400 |
55.110 |
53.501 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
|
1632.617 |
1091.311 |
|
|
|
Capital Goods |
|
80.985 |
42.761 |
|
|
TOTAL IMPORTS |
NA |
1713.602 |
1134.072 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.02
|
3.08 |
6.83 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.27
|
6.28 |
13.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.21 |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.40
|
0.33 |
0.22 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.07
|
1.13 |
1.27 |
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 |
83.098 |
83.098 |
83.098 |
|
Reserves & Surplus |
979.939 |
1151.226 |
1152.332 |
|
Net
worth |
1063.037 |
1234.324 |
1235.430 |
|
|
|
|
|
|
long-term borrowings |
15.783 |
38.116 |
11.481 |
|
Short term borrowings |
221.293 |
403.225 |
489.343 |
|
Total
borrowings |
237.076 |
441.341 |
500.824 |
|
Debt/Equity
ratio |
0.223 |
0.358 |
0.405 |
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 |
4117.114 |
5567.620 |
6860.100 |
|
|
|
35.231 |
23.214 |
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 |
4117.114 |
5567.620 |
6860.100 |
|
Profit |
281.396 |
171.280 |
1.110 |
|
|
6.83% |
3.08% |
0.02% |
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 deb |
75.494 |
75.377 |
43.266 |
|
|
|
|
|
|
Total |
75.494 |
75.377 |
43.266 |
|
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 |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
NOTE:
- The registered office of the
company has been shifted from Plot No. 268-270, GIDC, Manjusar, Savli,
Vadodara-391775, Gujarat, India to Plot No. 268-270, 271 B, GIDC,
Manjusar, Savli, Vadodara-391775, Gujarat, India the present address.
- The registered office has again shifted from Plot No. 268-270, 271 B, GIDC, Manjusar, Savli, Vadodara-391775, Gujarat, India to the present address w.e.f. 23.05.2012.
UNSECURED LOANS
|
PARTICULARS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Working capital loans from bank |
250.000 |
50.555 |
|
|
|
|
|
Total |
250.000 |
50.555 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10342983 |
09/03/2012 |
575,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI - 400013,
Maharashtra, INDIA |
B35113430 |
|
2 |
10443053 |
20/09/2011 |
461,440.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI - 400013,
Maharashtra, INDIA |
B30816086 |
|
3 |
10443052 |
20/06/2011 |
692,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI - 400013,
Maharashtra, INDIA |
B27318187 |
|
4 |
90149877 |
08/11/2012 * |
2,396,900,000.00 |
STATE BANK OF INDIA |
MID CORPORATE GROUP INDUSTRIAL FINANCE BRANCH, MARBLE ARCH, RACE
COURSE CIRCLE, VADODARA - 390007, GUJARAT, INDIA |
B62766977 |
|
5 |
90150701 |
23/04/2012 * |
2,396,900,000.00 |
STATE BANK OF INDIA |
MID CORPORATE GROUP INDUSTRIAL FINANCE BRANCH, MARBLE ARCH, RACE
COURSE CIRCLE, VADODARA - 390007, GUJARAT, INDIA |
B39953831 |
* Date of charge modification
OPERATIONS
During the year, the sales and other income of the Company have increased from Rs. 5567.620 million to Rs. 6860.100 million. The Operating Profit i.e. Profit before Interest, Depreciation and Tax has been Rs. 378.640 million as against Rs. 530.620 million of the previous year. Due to external factors like foreign exchange fluctuations, increase in raw material prices, etc. the net profit after tax has been greatly influenced which is Rs. 1.110 million as against Rs. 171.280 million of the previous year.
EXPORTS
During the year the Company has achieved an Export Turnover of Rs. 48.870 million as compared to Rs. 55.630 million in the previous year.
PRESS RELEASES
New Facility of Netafim Irrigation India Pvt. Ltd. Inaugurated by
Hon’ble Chief Minister of Gujarat Shri Narendra Modi
April 16, 2012
Shri Narendra Modi, Hon'ble
Chief Minister, Gujarat inaugurated the new facility of Netafim Irrigation
India Private Limited. and Mr. Randhir Chauhan ,
MD - Netafim Irrigation India Private Limited welcomed the gathering of
esteemed government officials, Netafim employees from India
and abroad, people from venerated organizations and more than 3,000 progressive
famers.
Prominent people who attended the program included Mr. Rudolf Weber, chairman of the board of directors - Netafim Limited., Mr. Torsten Vogt, Member - Board of Netafim Limited., Mr. Raphael Cimerman, Member - Board of Netafim Limited., Mr. Igal Aisenberg, President and CEO - Netafim Limited Mr. Rami Levy, VP and Head of Emerging Markets Division - Netafim Limited., Ms. Naama Zeldis, CFO - Netafim Limited. and Mr. Yahel Vilan, Deputy Ambassador of Israel in India. Mr. M. Sahu, Principal Secretary (Industries and Mines) Govt. of Gujarat and Mr. Atanu Chakraborty, MD - GSFC were also present to grace the inaugural function.
The requirement of enhanced crop productivity and farm inputs like fertilizers, water and labour use efficiency has been felt in the country as more important than ever, and drip technology has been a proven solution to address it. The trust Indian farmers have shown towards Netafim products and services has been amazing and Netafim appreciates the same. This new facility will bring improved reach of products to the farming fraternity of Gujarat and outside the state. India is primarily an agrarian economy where 67% of the population is dependent upon agriculture for its livelihood. With 16.7% of world's population, India has only 2.4% of land and only 4% of world's usable water. About 77% of this water is used in agriculture, it has become the need of the hour to change this ratio and drip irrigation technology has emerged as a boon where the farmers can increase water use efficiency to 90 - 95%. This technology not only saves water but also saves power, fertilizer and labor use.
Netafim is the pioneer and world leader in drip technology and has been serving the farming fraternity across the globe since 1965. Through its R&D and presence in 110 countries, the company has accumulated a knowledge base for applications in diverse situations requiring interface of multiple technologies in agriculture. Netafim is a leading micro-irrigation company with largest market share, most advanced technology and product range in the world.
At the inaugural function, the Hon'ble Chief Minister addressed more than 3000 farmers of Gujarat and adjoining states. He also awarded eight farmers who have shown outstanding performance realizing highest yield in various crops like cotton, sugarcane, potato and banana with a " Netafim Krishi Ratna Award". These farmers have set examples by adopting and promoting drip technology in tribal areas and have taken farming to its zenith by using high tech farming - both in green house and open field.
Mr. Igal Aisenberg, President and CEO - Netafim Limited. and Mr. Randhir Chauhan, MD - Netafim India addressed the gathering and expressed the noble intentions of the company and said that Netafim is committed to serve the nation with quality products and innovative technology ably supported by agronomy and after sales support services and will continue to serve in a more efficient way for years to come.
Netafim
Irrigation India Private Limited Awarded Most Promising Irrigation, Field
Automation Solutions and Service Provider in Southern India
October 16, 2012
Once again reiterating Netafim's glorious journey of success
and its ability to seep deep into the heart of Indian farmers by facilitating
them a prosperous and peaceful life, the World's Micro Irrigation Leader has
been awarded "Most Promising Irrigation, Field Automation Solutions and
Service Provider in Southern India" in Southern India Business and Service
Excellence Awards 2012, organised by Big Brand Research Private Limited
Big Brand Research Private Limited is one of the partners of Brands Academy, premier brand management consultancy in India. The award was handed over to Netafim India amidst huge gathering at the gala award ceremony on 13th October held at The Lalit Ashok in Bangalore.
India is primarily an agrarian economy where 67% of the population is dependent upon agriculture for its livelihood. With 16.7% of world's population, India has only 2.4% of land and only 4% of world's usable water. About 77% of this water is used in agriculture. Smart Irrigation Solutions play pivotal role in enhancing crop productivity. This technology not only saves water but also saves power, fertilizer and labour use. Field Automation is another solution that can help improving the agriculture efficiency of the country.
Mr. K. M. Mahamulkar , Head, Southern Market, Netafim Irrigation India expressed the noble intentions of the company, at this occasion and said that Netafim is committed to serve the nation with quality products and innovative technology ably supported by Agronomy and after sales support services and will continue to serve in a more efficient way for years to come. The award is dedicated to the trust Indian farmers have shown towards Netafim products and services, which have been amazing and Netafim appreciates the same.
About Netafim:
Netafim is the global leader in drip and micro-irrigation solutions for sustainable productivity. With 27 subsidiaries, 13 manufacturing plants and over 3,000 employees worldwide, Netafim delivers innovative and state-of-the-art solutions in over 110 countries across the globe. Founded in 1965, Netafim pioneered the drip irrigation revolution, creating a paradigm shift toward low-flow agricultural irrigation. Today, Netafim offers a wide range of irrigation and complementary solutions for agriculture, landscaping and mining. From drippers and dripper lines, through sprinklers and micro-emitters, to crop management technology (CMT) systems and greenhouse solutions, Netafim's market-leading products and services enable cost-effective irrigation for optimal and sustainable results.
Netafim to Build Largest India’s Drip-Irrigation Project
January 23, 2014
The Indian unit of Netafim Irrigation Inc., a smart-drip and
micro-irrigation specialist for farmers, won a 3.81 billion-rupee ($62 million)
water project contract in the southern state of Karnataka.
The company will build an automated water pipeline network to more efficiently drip-irrigate about 29,000 acres (11,800 hectares) of land in the Bagalkot area of Karnataka, its largest in India, Netafim Irrigation India Private. said.
The contract auctioned by state-owned Krishna Bhagya Jala Nigam Limited. will help 6,000 farmers through a simultaneous release of water so growers even at the end of the network get the same amount of water as those closer to the supply source. Netafim said it will build the project with partner Megha Engineering and Infrastructure Ltd.
“This is our largest project in India,” Avinash Thakur, Netafim’s head of marketing, said today by phone from Vadodara. Netafim, present in seven Indian states, is an Israeli firm that started in the Negev desert in 1965.
The privately owned global seller of smart-drip and water-saving products originated in a kibbutz when members teamed with an engineer who discovered that a slow and balanced supply of water improved plant growth.
The Ramthal-Marol drip-irrigation project is India’s biggest such project. Only 32 percent of all farmland in the world’s second-most populous nation is irrigated, according to World Bank data.
FIXED ASSETS
- Plant and
Machinery
- Office
Equipments
- Building
- Furniture and
Fixtures
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.61.13 |
|
|
1 |
Rs.101.17 |
|
Euro |
1 |
Rs.84.59 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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 |
|
49 |
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.