|
Report No. : |
356771 |
|
Report Date : |
26.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
LATHA RICE INDUSTRIES |
|
|
|
|
Registered
Office : |
Kh. No. 915, Kanhan Tarsa Road, Mouda, Nagpur - 441106, Maharashtra |
|
Mobile No.: |
91-9730004331 (Mr. Mahendra Malakodaiah Muppavarapu) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
-- |
|
|
|
|
Date of
Establishment : |
01.10.2015 |
|
|
|
|
Capital
Investment : |
Not Divulged |
|
|
|
|
IEC No.: |
Not Applicable [As claimed by Company management, the Company does not Export and Import] |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGFL0573P |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of Rice and Other Pulses. (Confirmed by
Management) |
|
|
|
|
No. of Employees
: |
4 (Approximately) (In Office) |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
- |
NB |
New Business |
- |
|
Status : |
New Concern |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was established as proprietary firm on August 2015 and Mr.
Mahendra Malakodaiah Muppavarapu was the proprietor. Subsequently as on 01st October 2015 the subject got
converted into partnership firm and partners are namely Mr. Nagayya Kondayya
Muppavarapu and Mr. Mahendra Malakodaiah Muppavarapu. The firm is established to undertake business of manufacturing and
trading of rice and other pulses. Mr. Mahendra Malakodaiah Muppavarapu, Partner has provided information
to us and claimed that operations under partnership firm will be start from
March 2016. Payments are reported to be unknown. In view of aforesaid, the firm can be considered for business dealings
on a safe and secure trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
INFORMATION PARTED BY
|
Name : |
Mr. Mahendra Malakodaiah Muppavarapu |
|
Designation : |
Partner |
|
Contact No.: |
91-9730004331 |
|
Date : |
24.12.2015 |
LOCATIONS
|
Registered Office/ Factory : |
Kh. No. 915, Kanhan Tarsa Road, Mouda, Nagpur - 441106, Maharashtra,
India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9730004331 (Mr. Mahendra Malakodaiah Muppavarapu) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Leased |
PARTNERS
|
Name : |
Mr. Mahendra Malakodaiah Muppavarapu |
|
Designation : |
Partner |
|
Address : |
Plot No. 35-36, Tukaram Nagar, Old Kamptee Road, Kalamana, Nagpur –
440026, Maharashtra, India |
|
Date of Birth/Age : |
26.01.1992 |
|
Qualification : |
Degree |
|
Experience : |
5 Years |
|
Work Experience : |
Mr. Mahendra M. Muppavar which also having experience in the line of business By looking after the whole Bolla Group’s, Financial Matters Administration, Sale Purchase and Recovery Since last 03 years and now looking towards the potential in the grains business now decided to start the rice mill and entered in to the partnership from October 2015. |
|
|
|
|
Name : |
Mr. Nagayya Kondayya Muppavarapu |
|
Designation : |
Partner |
|
Address : |
Plot No. 250, Behind Hotel Gomati, Bharat Nagar, Nagpur – 440008, Maharashtra,
India |
|
Date of Birth/Age : |
26.01.1962 |
|
Qualification : |
Degree |
|
Experience : |
25 Years |
|
Work Experience : |
He is one of the Partner in the firm and is having experience in the line of activity since last 20 year and also having proprietorship firm in the name of V.L. Enterprises and from the month of August 2015. Mr. Nagyya K. Muppavarapu has decided to close the proprietorship firm and entered in the partnership firm and to start the manufacture of all types of rice (agro based) rice mill. |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Rice and Other Pulses. (Confirmed by
Management) |
|
|
|
|
Brand Names : |
· Bahubali Part 2 · Deepak |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
-- |
|
|
|
|
Imports : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Credit (30 Days) |
|
|
|
|
Purchasing : |
Credit (30 Days) |
PRODUCTION DETAILS
|
Products |
Installed
Capacity |
|
|
|
|
Rice |
12 T/per hour |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
Wholesalers and Retailers
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
4 (Approximately) (In Office) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
|
|
|
Auditors : |
|
|
Name : |
Ajay and Amar Associates Chartered Accountants |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Divulged |
|
Borrowed : |
Not Divulged |
|
Total : |
Not Divulged |
FINANCIAL DATA
[all figures are
in Rupees Million]
NEW BUSINESS
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
Yes |
|
23 |
Financials, if provided |
No |
|
24 |
Capital in the business |
No |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last three years |
No |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
No |
|
30 |
Major shareholders, if available |
No |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
------------------------------------------------------------------------------------------------------------------------------
COST OF PROJECT
(RS. IN MILLION)
|
Project Cost |
% |
Amount |
|
|
|
|
|
1. Factory Land (Family Owned) |
0.00% |
0.000 |
|
|
|
|
|
2. Factory Building and Shed |
35.57% |
39.914 |
|
|
|
|
|
3. Deposits |
0.45% |
0.500 |
|
|
|
|
|
4. Plant and Machineries |
50.06% |
56.165 |
|
|
|
|
|
5. Electric Installation |
5.36% |
6.019 |
|
|
|
|
|
6. Interest during construction |
2.55% |
2.860 |
|
|
|
|
|
7. Margin Money for Working Capital |
6.01% |
6.742 |
|
|
|
|
|
Total |
100% |
112.200 |
------------------------------------------------------------------------------------------------------------------------------
MEANS OF FINANCE
(RS. IN MILLION)
|
Means of Finance |
% |
Amount |
|
|
|
|
|
Own Contribution |
17.83% |
20.000 |
|
|
|
|
|
Unsecured loan |
14.44% |
16.200 |
|
|
|
|
|
Term loan |
67.74% |
76.000 |
|
|
|
|
|
Total |
100% |
112.200 |
------------------------------------------------------------------------------------------------------------------------------
PROFITABILITY PROJECTIONS
(RS. IN MILLION)
|
PARTICULARS |
2015-16 |
2016-17 |
2017-18 |
2018-19 |
2019-20 |
2020-21 |
|
|
|
|
|
|
|
|
|
Capacity (Tons per year) |
48000 |
48000 |
48000 |
48000 |
48000 |
48000 |
|
Utilisation |
0.00% |
30.00% |
40.00% |
50.00% |
55.00% |
60.00% |
|
No of Working in Days |
0.00 |
150.00 |
300.00 |
300.00 |
300.00 |
300.00 |
|
Production proposed |
|
|
|
|
|
|
|
Rice (75%) |
-- |
5400 |
14400 |
18000 |
19800 |
21600 |
|
By Products |
|
|
|
|
|
|
|
Husk (15.00%) |
-- |
1080 |
2880 |
3600 |
3960 |
4320 |
|
Bran (10.00%) |
-- |
720 |
1920 |
2400 |
2640 |
2880 |
|
|
|
|
|
|
|
|
|
Selling Price (per ton) |
|
|
|
|
|
|
|
Rice |
-- |
48400 |
53240 |
58564 |
64420 |
70862 |
|
Husk |
-- |
8500 |
9350 |
10285 |
11314 |
12445 |
|
Bran |
-- |
15000 |
16500 |
18500 |
19965 |
21962 |
|
|
|
|
|
|
|
|
|
INCOME |
|
|
|
|
|
|
|
Rice |
0.000 |
261.360 |
766.656 |
1054.152 |
1275.524 |
1530.629 |
|
Husk Sales |
0.000 |
9.180 |
26.928 |
37.026 |
44.801 |
53.762 |
|
Bran Sales |
0.000 |
10.800 |
31.680 |
43.560 |
52.708 |
63.249 |
|
|
|
|
|
|
|
|
|
TOTAL RECEIPTS |
0.000 |
281.340 |
825.264 |
1134.738 |
1373.033 |
1647.640 |
|
|
|
|
|
|
|
|
|
EXPENDITURE |
|
|
|
|
|
|
|
To
Material Consumed |
0.000 |
248.986 |
749.340 |
1037.718 |
1259.071 |
1513.357 |
|
To Power
Expenses |
0.000 |
3.235 |
10.316 |
13.049 |
15.790 |
18.948 |
|
To Wages
and Salaries |
0.000 |
7.034 |
20.632 |
28.368 |
34.326 |
41.191 |
|
To Other
Direct Expenses |
0.000 |
0.844 |
2.476 |
3.404 |
4.119 |
4.943 |
|
To
Depreciation |
0.000 |
6.874 |
12.817 |
11.084 |
9.592 |
8.307 |
|
Manufacturing Exp. |
0.000 |
266.973 |
795.580 |
1093.624 |
1322.898 |
1586.745 |
|
|
|
|
|
|
|
|
|
Gross Profit |
0.000 |
14.367 |
29.684 |
41.114 |
50.135 |
60.894 |
|
G.P. Ratio |
0.00 |
5.11 |
3.60 |
3.62 |
3.65 |
3.70 |
|
|
|
|
|
|
|
|
|
To Interest on Term Loan |
0.000 |
6.233 |
7.663 |
6.763 |
5.511 |
4.114 |
|
To
Interest on Cash Credit |
0.000 |
0.770 |
1.980 |
1.980 |
1.980 |
1.980 |
|
|
|
|
|
|
|
|
|
Financial Expenditure |
0.000 |
7.003 |
9.643 |
8.743 |
7.491 |
6.094 |
|
|
|
|
|
|
|
|
|
Administrative & Selling Exp. |
0.000 |
3.376 |
11.554 |
19.291 |
24.715 |
31.305 |
|
|
|
|
|
|
|
|
|
Selling & Admn. Exp. |
0.000 |
3.376 |
11.554 |
19.291 |
24.715 |
31.305 |
|
|
|
|
|
|
|
|
|
TOTAL EXPENDITURE |
0.000 |
277.352 |
816.777 |
1121.657 |
1355.104 |
1624.144 |
|
|
|
|
|
|
|
|
|
Profit before Tax |
0.000 |
3.988 |
8.487 |
13.081 |
17.929 |
23.496 |
|
|
|
|
|
|
|
|
|
Less : Taxation |
0.000 |
1.196 |
2.546 |
3.924 |
5.379 |
7.049 |
|
|
|
|
|
|
|
|
|
Profit after Tax |
0.000 |
2.791 |
5.941 |
9.157 |
12.550 |
16.447 |
|
|
|
|
|
|
|
|
|
Net Profit Ratio |
0.00 |
0.99 |
0.72 |
0.81 |
0.91 |
1.00 |
------------------------------------------------------------------------------------------------------------------------------
PROJECTION BALANCE SHEET
(RS. IN MILLION)
|
PARTICULARS |
2015-16 |
2016-17 |
2017-18 |
2018-19 |
2019-20 |
2020-21 |
|
|
|
|
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proprietor's Capital |
|
|
|
|
|
|
|
Addition/Opening balance |
20.000 |
20.000 |
22.300 |
27.700 |
36.200 |
48.000 |
|
Add: Profit after tax |
0.000 |
2.791 |
5.941 |
9.157 |
12.550 |
16.447 |
|
Less: Withdrawals |
0.000 |
0.491 |
0.542 |
0.656 |
0.750 |
0.847 |
|
Closing Balance |
20.000 |
22.300 |
27.700 |
36.200 |
48.000 |
63.600 |
|
|
|
|
|
|
|
|
|
Secured Loan |
|
|
|
|
|
|
|
Term Loan From Bank |
57.333 |
65.333 |
55.833 |
43.333 |
29.167 |
11.667 |
|
Cash Credit Limit |
0.000 |
20.000 |
20.000 |
20.000 |
20.000 |
20.000 |
|
Unsecured Loan |
9.500 |
16.200 |
16.200 |
16.200 |
16.200 |
16.200 |
|
|
|
|
|
|
|
|
|
Current Liabilities & Prov. |
|
|
|
|
|
|
|
Sundry Creditors |
0.000 |
2.729 |
8.212 |
11.372 |
13.798 |
16.585 |
|
Other current liabilities |
0.400 |
0.500 |
0.600 |
0.650 |
0.700 |
0.800 |
|
TL Instalment due |
2.667 |
8.000 |
9.500 |
12.500 |
14.167 |
17.500 |
|
|
|
|
|
|
|
|
|
TOTAL
(LIABILITIES) |
89.900 |
135.062 |
138.045 |
140.256 |
142.032 |
146.352 |
|
|
|
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Block |
|
|
|
|
|
|
|
Fixed Assets Gross Block |
77.199 |
106.130 |
99.256 |
86.440 |
75.356 |
65.764 |
|
Less : Depreciation |
0.000 |
6.874 |
12.817 |
11.084 |
9.592 |
8.307 |
|
NET BLOCK |
77.199 |
99.256 |
86.440 |
75.356 |
65.764 |
57.457 |
|
|
|
|
|
|
|
|
|
Investment & Deposit |
0.500 |
0.500 |
0.700 |
1.000 |
1.200 |
1.400 |
|
|
|
|
|
|
|
|
|
Current Assets, Loans & Advances |
|
|
|
|
|
|
|
Closing Stock |
|
|
|
|
|
|
|
Raw Material & WIP |
11.500 |
11.562 |
9.044 |
12.435 |
15.047 |
18.056 |
|
Finished Goods |
0.000 |
16.187 |
18.088 |
24.871 |
30.094 |
36.113 |
|
|
|
|
|
|
|
|
|
Sundry Debtors |
0.000 |
6.937 |
22.610 |
24.871 |
26.332 |
31.599 |
|
|
|
|
|
|
|
|
|
Cash & Bank Balance |
0.701 |
0.620 |
1.163 |
1.723 |
3.595 |
1.727 |
|
|
|
|
|
|
|
|
|
TOTAL
(ASSETS) |
89.900 |
135.062 |
138.045 |
140.256 |
142.032 |
146.352 |
------------------------------------------------------------------------------------------------------------------------------
PROJECTION CASH FLOW STATEMENT
(RS. IN MILLION)
|
PARTICULARS |
2015-16 |
2016-17 |
2017-18 |
2018-19 |
2019-20 |
2020-21 |
|
|
|
|
|
|
|
|
|
SOURCES
OF FUND |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net profit before Tax with interest added back
but after depreciation |
0.000 |
10.991 |
18.131 |
21.824 |
25.420 |
29.589 |
|
|
|
|
|
|
|
|
|
Increase in Current Liability |
0.400 |
2.829 |
5.583 |
3.210 |
2.476 |
2.887 |
|
Increase in Term Loan |
60.000 |
16.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Increase in Own Contribution |
20.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Increase in Unsecured loan |
9.500 |
6.700 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Increase in Cash Credit Limit |
0.000 |
20.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Depreciation |
0.000 |
6.874 |
12.817 |
11.084 |
9.592 |
8.307 |
|
|
|
|
|
|
|
|
|
Total ( A ) |
89.900 |
63.394 |
36.531 |
36.118 |
37.488 |
40.782 |
|
|
|
|
|
|
|
|
|
APPLICATION
OF FUND |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase in
Capital Cost |
77.199 |
28.931 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Increase in Current Asset. |
11.500 |
23.186 |
15.056 |
12.435 |
9.296 |
14.295 |
|
Repayment of Term Loan |
0.000 |
2.667 |
8.000 |
9.500 |
12.500 |
14.167 |
|
Increase in Deposits & NCA |
0.500 |
0.000 |
0.200 |
0.300 |
0.200 |
0.200 |
|
Interest on
Bank Loan |
0.000 |
7.003 |
9.643 |
8.743 |
7.491 |
6.094 |
|
Taxation |
0.000 |
1.196 |
2.546 |
3.924 |
5.379 |
7.049 |
|
Drawings |
0.000 |
0.491 |
0.542 |
0.656 |
0.750 |
0.847 |
|
|
|
|
|
|
|
|
|
Total ( B ) |
89.199 |
63.474 |
35.988 |
35.558 |
35.616 |
42.650 |
|
|
|
|
|
|
|
|
|
Opening Balance |
0.000 |
0.701 |
0.620 |
1.163 |
1.723 |
3.595 |
|
|
|
|
|
|
|
|
|
Add. : Net Surplus |
0.701 |
(0.081) |
0.543 |
0.559 |
1.872 |
(1.868) |
|
|
|
|
|
|
|
|
|
Closing Balance |
0.701 |
0.620 |
1.163 |
1.723 |
3.595 |
1.727 |
------------------------------------------------------------------------------------------------------------------------------
FINANCIAL RATIOS
(RS. IN MILLION)
|
SR. NO. |
RATIOS |
2015-16 |
2016-17 |
2017-18 |
2018-19 |
2019-20 |
2020-21 |
|
|
|
|
|
|
|
|
|
|
1) |
Gross Profit Ratio |
- |
5.11% |
3.60% |
3.62% |
3.65% |
3.70% |
|
|
|
|
|
|
|
|
|
|
2) |
Net Profit Ratio |
- |
0.99% |
0.72% |
0.81% |
0.91% |
1.00% |
|
|
|
|
|
|
|
|
|
|
3) |
Operating Profit Margin |
- |
6.35% |
3.75% |
2.90% |
2.55% |
2.30% |
|
|
|
|
|
|
|
|
|
|
4) |
Return on Capital
Employed |
0.00% |
3.19% |
7.11% |
11.51% |
16.26% |
21.85% |
|
|
|
|
|
|
|
|
|
|
5) |
Current Ratio |
30.50 |
1.52 |
1.77 |
2.00 |
2.18 |
2.34 |
|
|
|
|
|
|
|
|
|
|
6) |
Instalment within -12-
months |
2.667 |
8.000 |
9.500 |
12.500 |
14.167 |
17.500 |
|
|
|
|
|
|
|
|
|
|
7) |
CR (With TL of 12 months) |
3.98 |
1.13 |
1.33 |
1.44 |
1.54 |
1.59 |
|
|
|
|
|
|
|
|
|
|
8) |
CATO |
0.00 |
8.11 |
16.59 |
18.25 |
19.21 |
19.21 |
|
|
|
|
|
|
|
|
|
|
9) |
TOL / TNW |
2.05 |
2.51 |
2.14 |
1.68 |
1.21 |
0.83 |
|
|
|
|
|
|
|
|
|
|
10) |
Debtors Collection (days) |
- |
4 |
10 |
8 |
7 |
7 |
|
|
|
|
|
|
|
|
|
|
11) |
RM & WIP Hold. Period
(days) |
- |
8 |
4 |
4 |
4 |
4 |
|
|
|
|
|
|
|
|
|
|
12) |
Finished Goods Period |
- |
11 |
8 |
8 |
8 |
8 |
|
|
|
|
|
|
|
|
|
|
13) |
Creditors Period (days) |
- |
2 |
4 |
4 |
4 |
4 |
|
|
|
|
|
|
|
|
|
|
14) |
Interest Coverage Ratio |
- |
2.55 |
3.21 |
3.76 |
4.67 |
6.22 |
|
|
|
|
|
|
|
|
|
|
15) |
Tangible Net Worth |
20.000 |
22.300 |
27.700 |
36.200 |
48.000 |
63.600 |
|
|
|
|
|
|
|
|
|
|
16) |
D S C R |
1.00 |
1.79 |
1.69 |
1.66 |
1.54 |
1.58 |
------------------------------------------------------------------------------------------------------------------------------
DEBT SERVICE COVERAGE RATIO
(RS. IN MILLION)
|
PARTICULARS |
2015-16 |
2016-17 |
2017-18 |
2018-19 |
2019-20 |
2020-21 |
2021-22 |
2022-23 |
|
|
|
|
|
|
|
|
|
|
|
Profit after tax |
0.000 |
2.791 |
5.941 |
9.157 |
12.550 |
16.447 |
20.809 |
26.508 |
|
Add:
Depreciation |
0.000 |
6.784 |
12.817 |
11.084 |
9.592 |
8.307 |
7.199 |
5.026 |
|
Interest
on Loan |
0.917 |
6.233 |
7.663 |
6.763 |
5.511 |
4.114 |
2.326 |
0.481 |
|
|
|
|
|
|
|
|
|
|
|
Net Cash Accrual
(A) |
0.917 |
15.899 |
26.421 |
27.003 |
27.654 |
28.867 |
30.334 |
32.015 |
|
|
|
|
|
|
|
|
|
|
|
Repayment of T. Loan |
0.000 |
2.667 |
8.000 |
9.500 |
12.500 |
14.167 |
17.500 |
11.667 |
|
Interest on
Term Loan |
0.917 |
6.233 |
7.663 |
6.763 |
5.511 |
4.114 |
2.326 |
0.481 |
|
|
|
|
|
|
|
|
|
|
|
Net Cash Paid (B) |
0.917 |
8.900 |
15.663 |
16.263 |
18.011 |
18.280 |
19.826 |
12.148 |
|
|
|
|
|
|
|
|
|
|
|
D.S.C.R. |
1.00 |
1.79 |
1.69 |
1.66 |
1.54 |
1.58 |
1.53 |
2.64 |
|
|
|
|
|
|
|
|
|
|
|
Average D.S.C.R |
1.77 |
|||||||
------------------------------------------------------------------------------------------------------------------------------
COMPANY PROFILE
INTRODUCTION
Latha Rice Industries is a partnership firm formed on 01.10.2015, earlier
the firm was proprietorship concern in the name of Mr. Mahendra Malakodaiah
Muppavarapu and from 01.10.2015 the firm was converted to partnership firm
having partners Mr. Nagayya Kondayya Muppavarapu and Mr. Mahendra Malakodaiah
Muppavarapu. The firm has approached them for term loan of Rs. 77.500 Million
and working capital limit of Rs.20.000 Million for set up fully automatic rice
mill. Total cost of project is estimated at Rs.112.200 Million. The firm has
proposed to install machinery of standard makes from reputed
suppliers/manufacturers and the cost of plant and machinery and electric
installation is Rs.62.184 Million and construction of building and factory shed
is Rs. 39.914 Million. The overall cost of project is Rs.112.200 Million, out
of which the firm will contribute Rs.36.200 Million as margin by way of capital
contribution and unsecured loan. The company has requested term loan of 76.000
Million for the construction of the factory building and shed and purchase
plant and machineries, electrification.
The fully automatic rice mill is located at Survey No.915, having area
of 0.96 HR Bogwatdar Class-I, Mouja-Tarsa, Mouja No.-149, P.H.No.63, Gram
Panchayat Tarsa, Th. Mouda and District Nagpur. The factory land is owned by
Mr. Ramnarao Bolla uncle of one of the director and the firm has entered in the
lease agreement with the firm Latha Rice Industries. The earlier owner of land
has taken all the necessary permission required for the rice mill i.e.
pollution certificate (consent to operate), electric connection and has given
affidavit to transfer the same in the name of present owner and the present
owner Mr. Ramnarao Bolla has given consent for transfer of all the necessary
permission through lease agreement to Latha Rice Industries required for set up
of rice mill. the total area of land is 9334.08 Sq. Mtrs and the area under
construction is 26600 Sq. feet activity has already been started and in full
swing the partners has already done the construction to the tune of Rs.15.960
Million.
The firm is having installed capacity of 10 tons per hour and firm has
single shift of 08 hours and the firm has estimated to worked in two shifts of
08 hours and the firm will work 25 days in a months, therefore the installed
capacity worked out is 48000 tons per annum the firm has estimated to that
commercial production will be starting from October 2016. In the first year of
operation company will be operating at 30% capacity, in second year at 40%,
third year 50% and so on.
Following will be the
major Supplier of Raw Material (Paddy):
· Govind Mill Stores, Guntur
· Karan Trading Firm, Nagpur
· Kavturi Shriniwas Rao, Lohadongri
· Kovvuri Tata Reddy,Champa
· Lakshmi K. Kancharla,Nimkheda
· Mahalaxmi Enterprises,Sambalpur
· Mahesh Trading Firm,Gondia
· Paramount Profiles,Durg
· Shree Dattatraya Traders, Rajanadgaon
· Bajrang Agrawal, Broker Gondia
Following is the
Proposed the major Customers of the Firm:
· Erukulla Somalingam, Warangal
· G.T.S. Food Products Private Limited, Chandrapur
· I.A.S. Enterprises, Chandrapur
· Jai Kisan Rice Mill, Nagpur
· Jai Sadaram Traders, Bhilai
· Kailas Anaj Bhandar,Nagpur
· Kailash Trading Firm,Nanded
· Mahalaxmi Transport, Kamptee
· Maheshwara Enterprises, Warangal
· Manish Pal, Nagpur
DETAILS OF THE
PROPOSED PROJECT:
PROJECT IN BRIEF:
Latha Rice Industries is a partnership firm formed on 01.10.2015,
earlier the firm was Proprietorship Concern in the name of Mr. Mahendra
Malakodaiah Muppavarapu and from 01.10.2015 the firm was converted to
Partnership Firm having partners Mr. Nagayya Kondayya Muppavarapu and Mr.
Mahendra Malakodaiah Muppavarapu. The firm has approached them for term loan of
Rs. 77.500 Million and working capital limit of Rs.20.000 Million for set up
fully Automatic Rice Mill. Total Cost of Project is estimated at Rs.112.200
Million. The Firm has proposed to install machinery of standard makes from
Reputed Suppliers/Manufacturers and the Cost of Plant and Machinery and
Electric Installation is Rs.62.184 Million and Construction of Building and
Factory Shed Is Rs. 39.914 Million. The Overall Cost of Project Is Rs.112.200
Million, out of which the firm will contribute Rs.36.200 Million as margin by
way of Capital Contribution and Unsecured Loan. The Company has requested Term
Loan of 76.000 Million for the construction of the Factory Building and Shed
And Purchase Plant and Machineries, Electrification.
MANUFACTURING PROCESS
The process is very well standardized first of all, paddy is cleaned to
remove unwanted matters like mud, stones, chaff etc. This cleaned lot is then
fed to de-husker where with the help of rubber roller, husk is separated the
brown rice is then taken to huller where polishing is done by mild friction
created within the polishing chamber the resulting polished rice and bran are
separated and collected recovery of edible rice is around 70-75% byproducts
constitute about 20-25% whereas balance 1% is waste and process loss.
Description of Rice Milling Operation
Paddy in its raw form cannot be consumed by human beings it needs to be
suitably processed for obtaining rice, rice milling is the process, which helps
in removal of hulls and barns from paddy grains to produce polished rice, rice
forms the basic primary processed product obtained from paddy and this is
further processed for obtaining various secondary and tertiary products.
The basic rice
milling processes consist of:
Process definition Pre Cleaning:
removing all impurities and unfilled grains from paddy
1. De-Stoning:
separating small stones from paddy
2. Parboiling
(optional): helps in improving the nutritional quality by gelatinization of
starch inside the rice grain. it improves the milling recovery percent during
deshelling and polishing / whitening operation
3. Husking: removing
husk from paddy
4. Husk Aspiration:
separating the husk from brown rice/ unhusked paddy
5. Paddy Separation:
separating the unhusked paddy from brown rice
6. Whitening:
removing all or part of the bran layer and germ from brown rice
7. Polishing:
improving the appearance of milled rice by removing the remaining bran particles
and by polishing the exterior of the milled kernel
8. Length Grading:
separating small and large broken from head rice
9. Blending: mixing
head rice with predetermined amount of broken, as required by the customer
10.
weighing and bagging : preparing the milled rice
for transport to the customer
PRODUCTION
CAPACITY:
|
PARTICULARS |
15-16 |
16-17 |
17-18 |
18-19 |
19-20 |
20-21 |
21-22 |
22-23 |
|
Capacity (Tons per year) |
48,000 |
48,000 |
48,000 |
48,000 |
48,000 |
48,000 |
48,000 |
48,000 |
|
Utilization |
0.00% |
30.00% |
40.00% |
50.00% |
55.00% |
60.00% |
65.00% |
70.00% |
|
No. of Working Days |
0 |
150 |
300 |
300 |
300 |
300 |
300 |
300 |
|
Production proposed |
||||||||
|
Rice (75%) |
-- |
5,400 |
14,400 |
18,000 |
19,800 |
21,600 |
23,400 |
25,200 |
|
By Products |
-- |
|||||||
|
Husk (15.00%) |
-- |
1080 |
2880 |
3600 |
3960 |
4320 |
4680 |
5040 |
|
Bran (10.00%) |
-- |
720 |
1920 |
2400 |
2640 |
2880 |
3120 |
3360 |
------------------------------------------------------------------------------------------------------------------------------
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its
beneficial owners, controlling shareholders or senior officers as terrorist or
terrorist organization or whom notice had been received that all financial
transactions involving their assets have been blocked or convicted, found
guilty or against whom a judgement or order had been entered in a proceedings
for violating money-laundering, anti-corruption or bribery or international
economic or anti-terrorism sanction laws or whose assets were seized, blocked,
frozen or ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the
property or assets of the subject are derived from criminal conduct or a
prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] 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. 66.20 |
|
UK Pound |
1 |
Rs. 98.30 |
|
Euro |
1 |
Rs. 72.41 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA |
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.