MIRA
INFORM REPORT
|
Report Date : |
01.10.2014 |
\
IDENTIFICATION DETAILS
|
Name : |
USHER AGRO LIMITED |
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Registered
Office : |
422,Laxmi Plaza ,Laxmi Industrial Estate, New Link Road
Andheri (West), Mumbai – 400053, Maharashtra |
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Country : |
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Financials (as
on) : |
30.06.2014 |
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Date of
Incorporation : |
26.06.1996 |
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Com. Reg. No.: |
11-100380 |
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Capital
Investment / Paid-up Capital : |
Rs.380.590 Millions |
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CIN No.: [Company Identification
No.] |
L01100MH1996PLC100380 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMU02026D |
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PAN No.: [Permanent Account No.] |
AAACU1095N |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
Stock Exchanges. |
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Line of Business
: |
Manufacturer and Exporter of Rice and Wheat. |
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No. of Employees
: |
700 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 15000000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. 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.
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
09.01.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk |
|
Date |
09.01.2014 |
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Hemant Chaturvedi |
|
Designation : |
Finance Department |
|
Contact No.: |
91-22-39381100 |
LOCATIONS
|
Registered Office / Corporate Office : |
422,Laxmi Plaza ,Laxmi Industrial Estate, New Link Road
Andheri(West), Mumbai – 400053, Maharashtra, India |
|
Tel. No.: |
91-22-39381100 |
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Fax No.: |
91-22-39381123 |
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E-Mail : |
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Website : |
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Area : |
2000 Sq. ft. |
|
Location : |
Owned |
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Marketing Office : |
405, Pearls Best Heights-II, Netaji Subhas Place, New Delhi- 110034,
India |
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E-Mail : |
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Plant 1 : |
158, Gohari, Delhi- Agra Highway, Chhata, District
Mathura – 281001, Uttar Pradesh, India |
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Plant 2 : |
632-634, Duatana, Delhi Agra Highway, Chhata, District Mathura –
281001, Uttar Pradesh, India |
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Plant 3 : |
239, Maholi, Krishna Nagar, Off Delhi- Agra Highway, Mathura, District
Mathura- 281 004, Uttar Pradesh, India |
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Plant 4 : |
Plot No. 1898, Chaubeji ki Chhavani. Jalilpur Thana, Rajpur, District
Buxar, Bihar, India |
DIRECTORS
As on 30.06.2013
|
Name : |
Dr. Vinod Kumar Chaturvedi |
|
Designation : |
Managing Director |
|
Address : |
B-5/202, Mangal Nagar, Yari Road, Andheri West, Mumbai-40006, Maharashtra, India |
|
Date of Birth : |
01.08.1965 |
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Date of Appointment
: |
30.12.2000 |
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|
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|
Name : |
Mr. Manoj Pathak |
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Designation : |
Whole Time Director |
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Qualification : |
Graduate in Commerce and law |
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Name : |
Mr. Vijay Ranchan |
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Designation : |
Non-Executive Independent Director |
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Address : |
Plot No. 131, Sector 8, Gandhinagar-382000, Gujarat, India |
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Date of Birth : |
01.10.1942 |
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Date of Appointment
: |
30.12.2004 |
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Qualification : |
Master degree in Arts |
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|
Name : |
Mr. Ajay Prakash Arora |
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Designation : |
Non-Executive Independent Director |
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Address : |
305, Wing 3-B, Dheeraj Enclave, Borivali (East), Mumbai – 400066, Maharashtra, India |
|
Date of Birth : |
08.05.1941 |
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Date of Appointment
: |
29.12.2006 |
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Qualification : |
Master Degree in Commerce and is a Certified Associate of Indian
Institute of Bankers (CAIIB). |
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|
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Name : |
Mr. Prakash Arora |
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Designation : |
Non-Executive Independent Director |
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Qualification : |
Graduate in Animal Science |
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Name : |
Mr. Prem Chand Tiwari |
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Designation : |
Non-Executive Independent Director |
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Name : |
Mrs. Baljinder Kaur Mandal |
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Designation : |
Nominee Director IDBI Bank (Appointed 29.06.2013) |
KEY EXECUTIVES
|
Name : |
Mrs. Sarika S. Singh |
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Designation : |
Company Secretary |
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|
Name : |
Mr. Hemant Chaturvedi |
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Designation : |
Finance Department |
SHAREHOLDING PATTERN
As on 30.06.2014
|
Category of
Shareholders |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter
and Promoter Group |
|
|
|
|
|
|
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|
8308630 |
21.83 |
|
|
3953740 |
10.39 |
|
|
3953740 |
10.39 |
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|
12262370 |
32.22 |
|
|
|
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|
Total shareholding of Promoter
and Promoter Group (A) |
12262370 |
32.22 |
|
(B) Public Shareholding |
|
|
|
|
|
|
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|
1994058 |
5.24 |
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|
2844767 |
7.47 |
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|
4838825 |
12.71 |
|
|
|
|
|
|
10106685 |
26.56 |
|
|
|
|
|
|
3928761 |
10.32 |
|
|
4390704 |
11.54 |
|
|
2531694 |
6.65 |
|
|
2263555 |
5.95 |
|
|
265950 |
0.70 |
|
|
2189 |
0.01 |
|
|
20957844 |
55.07 |
|
Total Public shareholding (B) |
25796669 |
67.78 |
|
Total (A)+(B) |
38059039 |
100.00 |
|
(C) Shares held by Custodians
and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
38059039 |
0.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Rice and Wheat. |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
·
Middle East Countries ·
South Africa ·
Ghana |
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Imports : |
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Products : |
Machinery |
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Countries : |
·
Japan ·
Switzerland |
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Terms : |
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Selling : |
Cash / Advance Payment / L/C |
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Purchasing : |
Cash / Advance Payment / L/C |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers and End Users |
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No. of Employees : |
700 (Approximately) |
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Bankers : |
· IDBI Bank Limited · United Bank of India · HDFC Bank · Bank Limited · ING Vysya Bank Limited · Axis Bank Limited, Worli, Mumbai, Maharashtra, India (Tel. No.: 91-22-24252525) · Rabo Bank International (Cooperatieve Centrale) · Raiff Eisen-Boerenleen Bank Singapore) · RABO Bank International, Mumbai Branch, Maharashtra, India · Bank of Baroda · Dena Bank ·
Export-Import Bank of India ·
ICICI Bank Limited, Mahalaxmi, Mumbai,
Maharashtra, India (Tel. No.:
91-22-24906071) |
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Facilities : |
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Banking
Relations : |
-- |
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Statutory Auditors |
Parekh Shah and Lodha Chartered Accountants |
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Address : |
3111-EEE, BKC Center, Laxmi Industrial Eastae, New Link
Road, Andheri (West), Mumbai – 400053, Maharashtra, India |
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Tel. No.: |
91-22-30706021-40 |
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Fax No.: |
91-22-30706033 |
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E-Mail : |
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Internal
Auditors: |
Dinesh Bangar and Company Chartered Accountants |
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Cost
Auditor : |
NKJ and Associates Chartered Accountants |
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Where control
exists irrespective of whether transactions have occurred or not : (As
on 30.06.2013) |
· Usher Eco Power Limited (Subsidiary Company) · Usher World Wide FZE (Wholly Owned Foreign Subsidiary Company from 03rd June, 2012) |
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|
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Enterprises owned
or significantly influenced by key management personnel or their relatives : (As on 30.06.2013) |
· Usher Capitals Limited · Vedika Finance Private Limited · Usher Oils and Foods Limited · Usher Infra Logic Limited ·
Narayani Nivesh Nigam Private Limited |
CAPITAL STRUCTURE
As on 30.06.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.380.590 Millions
As on 30.06.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs. 10/- each |
Rs.400.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
38059039 |
Equity Shares |
Rs. 10/- each |
Rs.380.590 Millions |
a.
A reconciliation
of the number of shares outstanding at the beginning and at the end of the
accounting year, is set out below:
|
Equity Shares |
Number
of Shares |
|
Shares outstanding at the beginning of the year |
38059039 |
|
Add : Shares issued during the year |
-- |
|
Shares outstanding at the end of the year |
38059039 |
b. The Company has only one class of equity shares having a par value of Rs.10. The equity shares have rights, preferences and restrictions which are in accordance with the provisions of law, in particular the Companies Act, 1956.
c. There are nil number of shares ( P.Y. Nil) in respect of each class in the company held by its holding company or its ultimate holding company including shares held by or by subsidiary or associates of the holding company or the ultimate holding company in aggregate
d.
Shares in the company held by each
shareholders holding more than 5% shares, as on 30.06.2013:
|
Name of Shareholder |
Number
of Shares |
% holding |
|
Mr. Vinod Chaturvedi |
4716470 |
12.39% |
|
Mr. Manoj Pathak |
3284060 |
8.63% |
|
Narayani Nivesh Nigam Private Limited |
2054752 |
5.40% |
|
Hi Tech Housing Projects Private Limited |
4951893 |
13.01% |
|
AIWO Limited |
- |
- |
|
Elara India Opportunities Fund Limited |
259312 |
6.81% |
|
Parin Trading Private Limited |
210000 |
5.52% |
e. There are nil number of shares (Previous year Nil) reserved for issue under option and contracts /commitment for the sale of shares/disinvestment including the terms and amounts.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.06.2014 |
30.06.2013 |
30.06.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
380.590 |
380.590 |
380.590 |
|
(b) Reserves & Surplus |
3458.173 |
2788.707 |
2335.099 |
|
(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) |
3838.763 |
3169.297 |
2715.689 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
1977.559 |
1837.646 |
1136.835 |
|
(b) Deferred tax liabilities (Net) |
70.636 |
113.437 |
97.986 |
|
(c) Other long term liabilities |
146.394 |
0.144 |
0.150 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
2194.589 |
1951.227 |
1234.971 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
5296.933 |
4252.242 |
3360.728 |
|
(b) Trade payables |
910.867 |
494.760 |
331.082 |
|
(c) Other current
liabilities |
669.767 |
321.999 |
381.541 |
|
(d) Short-term provisions |
67.929 |
172.900 |
162.321 |
|
Total Current Liabilities (4) |
6945.496 |
5241.901 |
4235.672 |
|
|
|
|
|
|
TOTAL |
12978.848 |
10362.425 |
8186.332 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3593.712 |
1382.702 |
1522.904 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
300.187 |
1406.702 |
439.400 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
172.535 |
172.536 |
170.265 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
63.783 |
118.059 |
8.866 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
4130.217 |
3079.999 |
2141.435 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
5668.764 |
4092.080 |
3170.877 |
|
(c) Trade receivables |
2649.098 |
2398.468 |
2080.618 |
|
(d) Cash and cash
equivalents |
140.432 |
325.387 |
533.988 |
|
(e) Short-term loans and
advances |
155.525 |
152.745 |
106.760 |
|
(f) Other current assets |
234.812 |
313.746 |
152.654 |
|
Total Current Assets |
8848.631 |
7282.426 |
6044.897 |
|
|
|
|
|
|
TOTAL |
12978.848 |
10362.425 |
8186.332 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.06.2014 |
30.06.2013 |
30.06.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
12228.201 |
9493.389 |
8116.973 |
|
|
|
Other Income |
15.425 |
22.315 |
19.602 |
|
|
|
TOTAL (A) |
12243.626 |
9515.704 |
8136.575 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
9916.511 |
7905.211 |
6871.259 |
|
|
|
Changes in Inventories (Increase) / Decrease of Finished
Goods |
94.969 |
(180.310) |
(185.245) |
|
|
|
Employee Benefits Expense |
126.572 |
102.262 |
85.717 |
|
|
|
Other Expenses |
481.919 |
381.470 |
275.621 |
|
|
|
TOTAL (B) |
10619.971 |
8208.633 |
7047.352 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1623.655 |
1307.071 |
1089.223
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
766.593 |
504.574 |
390.464 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
857.062 |
802.497 |
698.759 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
205.906 |
150.179 |
146.496 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
651.156 |
652.318 |
552.263 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.201 |
198.710 |
128.934 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
649.955 |
453.608 |
423.329 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1308.866 |
965.278 |
718.301 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
NA |
0.000 |
57.089 |
|
|
|
Corporate Dividend Tax |
NA |
0.000 |
9.263 |
|
|
|
Transferred to General Reserve |
NA |
60.000 |
60.000 |
|
|
|
Debt Redemption Reserve |
NA |
50.000 |
50.000 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
1308.886 |
965.278 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Sales on FOB Basis |
NA |
798.283 |
433.117 |
|
|
TOTAL EARNINGS |
NA |
798.283 |
433.117 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
NA |
2.722 |
0.000 |
|
|
TOTAL IMPORTS |
NA |
2.722 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
16.56 |
11.92 |
11.12 |
|
KEY RATIOS
|
PARTICULARS |
|
30.06.2014 |
30.06.2013 |
30.06.2012 |
|
PAT / Total Income |
(%) |
5.31 |
4.77 |
5.20 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.33 |
6.87 |
6.80 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.21 |
7.53 |
7.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.21 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.90 |
1.92 |
1.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27 |
1.39 |
1.43 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
30.06.2012 |
30.06.2013 |
30.06.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
380.590 |
380.590 |
380.590 |
|
Reserves & Surplus |
2335.099 |
2788.707 |
3458.173 |
|
Net
worth |
2715.689 |
3169.297 |
3838.763 |
|
|
|
|
|
|
long-term borrowings |
1136.835 |
1837.646 |
1977.559 |
|
Short term borrowings |
3360.728 |
4252.242 |
5296.933 |
|
Total
borrowings |
4497.563 |
6089.888 |
7274.492 |
|
Debt/Equity
ratio |
1.656 |
1.922 |
1.895 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
30.06.2012 |
30.06.2013 |
30.06.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
8116.973 |
9493.389 |
12228.201 |
|
|
|
16.957 |
28.808 |
NET PROFIT MARGIN
|
Net Profit
Margin |
30.06.2012 |
30.06.2013 |
30.06.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
8116.973 |
9493.389 |
12228.201 |
|
Profit |
423.329 |
453.608 |
649.955 |
|
|
5.22% |
4.78% |
5.32% |
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 |
Yes |
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
Note:
The registered office of the company has been shifted from 212, Laxmi
Plaza, Laxmi Industrial Estate, New Link Road, Andheri (West), Mumbai,
Maharashtra, India to present address
UNSECURED LOAN:
|
Particulars |
30.06.2014 Rs. In Millions |
30.06.2013 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Loans Repayable on Demand- From Other Parties |
NA |
83.551 |
|
Total |
NA |
83.551 |
CORPORATE OVERVIEW
Company is engaged
in the business of food processing, mainly basic food i.e. wheat and rice. The Company
is having manufacturing facilities for rice and wheat milling. The company is
also engaged in Bio Mass Power generation and Logistic, however the operations
in these two segments are comparatively not significant and mainly for captive
purpose only.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10442596 |
28/06/2013 * |
488,000,000.00 |
Axis Bank Limited |
Ground Floor, Axis House, Bombay
Dyeing Mills Compound, P B Marg, Worli, Mumbai, Maharashtra - 400 025, INDIA |
B82640392 |
|
2 |
10441049 |
08/06/2013 |
400,000,000.00 |
Bank of Baroda |
4th floor, 10/12, Mumbai Samachar
Marg, Fort, Mumbai, Maharashtra - 400001, INDIA |
B81127946 |
|
3 |
10406517 |
25/02/2013 |
1,100,000,000.00 |
IDBI Bank Limited |
IDBI House, 44 Shakespeare
Sarani, Kolkata, West Bengal - 700017, INDIA |
B68999705 |
|
4 |
10406129 |
09/02/2013 |
250,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE,
ALKAPURI, BARODA, Gujarat - 390015, INDIA |
B68612100 |
|
5 |
10382118 |
08/10/2012 |
600,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
Centre One Building, Floor 21, World
Trade Centre Complex, Cuff Parade, Mumbai, Maharashtra - 400005, India |
B60307899 |
|
6 |
10378442 |
07/09/2012 |
200,000,000.00 |
Commonwealth Bank of Australia
|
Level 2, Hoechst House, Nariman
Point, Mumbai, Maharashtra - 400021, INDIA |
B58890252 |
|
7 |
10366270 |
15/10/2013 * |
7,500,000,000.00 |
IDBI Trusteeship Services Limited |
Asian Bldg., Ground Floor, 17, R. Kamani Marg, Ballard Estate,, MUMBAI, Maharashtra - 400001, India |
B89624985 |
|
8 |
10364388 |
06/07/2012 * |
200,000,000.00 |
Rabobank International (Cooperatieve Centrale Raiffeisen-Boerenleen Bank B.A.) |
2/F Forbes Building, Chiranjeet Rai Marg, Fort, Mumbai, Maharashtra - 400001, INDIA |
B43369362 |
|
9 |
10352757 |
20/03/2012 |
750,000,000.00 |
ICICI BANK LIMITED |
Landmarkrace Cource Circle, Alkapuri, Baroda, Gujarat - 390015, India |
B38613360 |
|
10 |
10224184 |
15/06/2010 |
250,000,000.00 |
Cooperatieve Centrale Raiffeisen-Boerenleen Bank B. A. (Rabo Bank) |
77, ROBINSON ROAD #09-00,, SIA BIULDING, SINGAPORE, - 068896, SINGAPORE |
A8725592 |
|
11 |
10208606 |
08/02/2012 * |
950,000,000.00 |
Axis Bank Limited |
209, Ground Floor, Atlanta,,
Nariman Point,, Mumbai, Maharashtra - 400021, INDIA |
B33052556 |
|
12 |
10193857 |
30/11/2009 |
23,000,000.00 |
TATA CAPITAL LIMITED |
ONE FORBES, DR V B GANDHI
MARG,FORT, MUMBAI, Maharashtra - 400001, INDIA |
A76460682 |
|
13 |
10164065 |
28/06/2013 * |
2,500,000,000.00 |
IDBI Trusteeship Services
Limited |
Asian Bldg., Ground Floor, 17,
R. Kamani Marg, Ballard Estate,, Mumbai, Maharashtra - 400001, India |
B80163066 |
|
14 |
10071491 |
03/08/2009 * |
75,000,000.00 |
Small Industries Development
Bank of India |
11-13, Atlanta, Nariman Point, Mumbai,
Maharashtra - 400021, INDIA |
A69703775 |
FIXED ASSETS:
· Land
· Office Building
· Building and Roads
· Godowns
· Plant and Machinery
· Electrical Installation
· Computer and Printer
· Tube well, Water Tanks and Pipings
· Furniture and Fixture
· Vehicle
· Office Equipment
· Laboratory and Store Equipment’s
· Switch Yard Distribution Lines
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.61.61 |
|
|
1 |
Rs.100.28 |
|
Euro |
1 |
Rs.78.21 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.