MIRA INFORM REPORT
|
Report No. : |
356081 |
|
Report Date : |
29.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
S .N. MILK PRODUCTS PRIVATE LIMITED |
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|
|
|
Registered
Office : |
Flat No.506, Laxmi Deep Building, Plot No.9, District Centre, Laxmi Nagar, Delhi-110006 |
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Tel. No.: |
91-11-22523332 |
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|
|
Country : |
India |
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|
Financials (as
on) : |
31.03.2014 |
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|
|
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Date of
Incorporation : |
31.05.2007 |
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|
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Com. Reg. No.: |
55-211858 |
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Capital
Investment / Paid-up Capital : |
Rs. 14.181 Million |
|
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|
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CIN No.: [Company Identification
No.] |
U15203DL2007PTC211858 |
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TIN |
09927502869 |
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IEC No.: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AALCS2292Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the processing of various dairy products like
skimmed milk powder (SMP), ghee, white butter, etc. (Confirmed by
management) |
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|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
SNM was incorporated in May 2007, started its commercial operations in
October 2008. The company is promoted by Mr. Ravikant Agrawal and his brothers,
Mr. Vinod Kumar Agrawal, Mr. Sushil Kumar Agrawal and Mr. Pradeep Kumar
Agrawal. It is engaged in the processing of various dairy products like
skimmed milk powder (SMP), ghee, white butter, etc. The rating of SN Milk Products Private Limited (SNM) takes into
account healthy growth in the company’s operating income, profitS and
improvement in its working capital cycle. Furthermore, the rating derives
comfort from the experience of the company’s promoter, strategic location of
its manufacturing plant, established procurement and marketing arrangements
and growing demand for milk and milk products. The company sale it products under the brand name of “Madhav, Milk
Sagar and Rasoi Ratna”. However, the rating continues to be constrained by the company’s
leveraged capital structure and its weak debt coverage indicators. The rating
is also constrained by susceptibility of the company’s profitability margins
to intense competition, risks related to fluctuation in raw material prices
and foreign exchange rates and higher working capital requirements due to
seasonality associated with the availability of milk. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.
Note: Management of the company has not filed its financial with the
government department for the year 2015. |
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
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities (BB) |
|
Rating Explanation |
Inadequate credit quality and high credit risk. |
|
Date |
November 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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. M.K. Sachan |
|
Designation : |
Manager |
|
Contact No.: |
91-9917477301 |
|
Date : |
21.12.2015 |
LOCATIONS
|
Registered Office/ Corporate Office : |
Flat No.506, Laxmi Deep Building, Plot No.9, District Centre, Laxmi Nagar, Delhi-110006, India |
|
Tel. No.: |
91-11-22523332 |
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Mobile No.: |
91-9917477301 (Mr. M.K. Sachan) |
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Fax No.: |
Not Available |
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E-Mail : |
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Web: |
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Location : |
Rented |
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Locality : |
Commercial |
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|
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Sales Office: |
H.O. 331, Kucha Ghasi Ram, Chandni Chowk, Delhi – 110006, India |
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Tel. No.: |
91-11-23913331 |
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Fax No.: |
91-11-23913332 |
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Correspondent Office: |
F-173, Kamla Nagar, Agra – 282005, Uttar Pradesh, India |
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Tel. No.: |
91-562-2881103 |
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Location : |
Rented |
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Area : |
400 St. Ft. |
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|
|
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Factory : |
Ajroi Road, Sasni - 204216, Mahamaya Nagar, Hathras, Uttar Pradesh,
India |
|
Tel. No.: |
91-572-2220202 |
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Fax No.: |
91-562-2881103 |
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Area : |
10000 St. Ft. |
|
Location : |
Owned |
DIRECTORS
As on: 31.03.2015
|
Name : |
Mr. Vinod Kumar Agarwal |
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Designation : |
Director |
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Address : |
Shri Niketan, Mathura Road, Sadabad,
Mahamaya Nagar-281306, Uttar Pradesh, India |
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Date of Birth/Age : |
17.10.1964 |
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Date of Appointment : |
31.05.2007 |
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PAN No.: |
ABPPA9630E |
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DIN No.: |
01655992 |
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Name : |
Mr. Pradeep Kumar Agarwal |
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Designation : |
Director |
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Address : |
Shri Niketan, Mathura Road, Sadabad, Mahamaya
Nagar-281306, Uttar Pradesh, India |
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Date of Birth/Age : |
21.04.1969 |
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Date of Appointment : |
31.05.2007 |
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PAN No.: |
ABRPA5698N |
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DIN No.: |
01655994 |
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Name : |
Mr. Ravi Kant Agarwal |
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Designation : |
Director |
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|
Address : |
Shri Niketan, Mathura Road, Sadabad,
Mahamaya Nagar-281306, Uttar Pradesh, India |
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Date of Birth/Age : |
01.10.1962 |
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Date of Appointment : |
31.05.2007 |
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PAN No.: |
ABRPA5688C |
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DIN No.: |
01655989 |
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Name : |
Mr. Sushil Kumar Agarwal |
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Designation : |
Director |
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|
Address : |
Shri Niketan, Mathura Road, Sadabad,
Hathras, 281306, Uttar Pradesh, India |
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|
Date of Appointment : |
31.05.2007 |
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DIN No.: |
01655984 |
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KEY EXECUTIVES
|
Name : |
Mr. M.K. Sachan |
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Designation : |
Manager |
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|
|
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Name : |
Gagan Burman and Associates |
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Designation : |
Company Secretary |
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Address : |
26, Mangalam Estate, Dayalbagh, Agra - 282005 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 19.08.2013
SHAREHOLDER FILES ARE ATTACHED
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
32.66 |
|
Directors or relatives of Directors |
57.41 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the processing of various dairy products like
skimmed milk powder (SMP), ghee, white butter, etc. (Confirmed by management) |
|
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Products : |
Milk Products
|
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Brand Names : |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Milk Powder |
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Countries : |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers and Manufacturer
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No. of Employees : |
50 (Approximately) |
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Bankers : |
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Facilities : |
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Financial Institution:
|
Uttar Pradesh Financial Corporation, 14/88, Civil Lines, Kanpur - 208001, Uttar Pradesh, India |
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Auditors : |
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Name : |
R. Lal and Company Chartered Accountants |
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Address : |
A-5 Indrapuri, New Agra, Delhi, India |
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Tel. No.: |
91-562-4034601 |
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Mobile No.: |
91-94122 60493 |
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PAN: |
ABTPA1709L |
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Auditors : |
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Name : |
Dileep Verma and Associates Cost Accountants |
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Address : |
79 Push Panjali Nagar Phase-1, Avadhpuri - Agra- 282010, Delhi, India |
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Mobile No.: |
91-8126630927 |
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E-Mail : |
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Memberships : |
-- |
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Collaborators : |
-- |
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Enterprises over which
significant influence may be exercised by KMP or their Relatives: |
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CAPITAL STRUCTURE
As on: 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Million |
|
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1418085 |
Equity Shares |
Rs.10/- each |
Rs. 14.181 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
14.181 |
13.931 |
13.931 |
|
(b) Reserves & Surplus |
113.896 |
98.393 |
94.311 |
|
(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) |
128.077 |
112.324 |
108.242 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
234.550 |
218.145 |
243.749 |
|
(b) Deferred tax liabilities (Net) |
0.429 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
234.979 |
218.145 |
243.749 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
224.963 |
181.360 |
171.094 |
|
(b) Trade
payables |
84.424 |
33.105 |
34.836 |
|
(c) Other
current liabilities |
2.521 |
1.904 |
1.310 |
|
(d) Short-term
provisions |
3.091 |
0.099 |
1.377 |
|
Total Current
Liabilities (4) |
314.999 |
216.468 |
208.617 |
|
|
|
|
|
|
TOTAL |
678.055 |
546.937 |
560.608 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
221.531 |
234.826 |
111.633 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
8.115 |
151.250 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
5.000 |
2.500 |
2.500 |
|
(c) Deferred tax assets (net) |
0.000 |
0.140 |
0.000 |
|
(d) Long-term Loan and Advances |
1.038 |
1.138 |
1.138 |
|
(e) Other
Non-current assets |
0.758 |
1.137 |
1.552 |
|
Total Non-Current
Assets |
228.327 |
247.856 |
268.073 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
20.003 |
7.761 |
7.177 |
|
(b)
Inventories |
203.144 |
193.668 |
165.454 |
|
(c) Trade
receivables |
202.573 |
92.454 |
88.113 |
|
(d) Cash
and cash equivalents |
15.891 |
2.300 |
28.242 |
|
(e) Short-term
loans and advances |
8.117 |
2.898 |
3.549 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
449.728 |
299.081 |
292.535 |
|
|
|
|
|
|
TOTAL |
678.055 |
546.937 |
560.608 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
1925.700 |
670.900 |
956.900 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
15.981 |
6.830 |
12.347 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
5.278 |
2.436 |
3.750 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
10.703 |
4.394 |
8.597 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.54 |
3.15 |
6.17 |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover |
|
|
1100.000 |
|
|
|
|
|
Expected Sales (2015-16): Rs. 1000.000 million
The above information has been parted by Mr. M.K. Sachan (Manager)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
21.092 |
12.760 |
NA |
|
Net cash flows from (used in) operating activities |
70.355 |
55.020 |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.56 |
0.65 |
0.90 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.37 |
1.27 |
3.03 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.06 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.59 |
3.56 |
3.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.43 |
1.38 |
1.40 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
13.931 |
13.931 |
14.181 |
|
Reserves & Surplus |
94.311 |
98.393 |
113.896 |
|
Net worth |
108.242 |
112.324 |
128.077 |
|
|
|
|
|
|
long-term borrowings |
243.749 |
218.145 |
234.550 |
|
Short term borrowings |
171.094 |
181.360 |
224.963 |
|
Total borrowings |
414.843 |
399.505 |
459.513 |
|
Debt/Equity ratio |
3.833 |
3.557 |
3.588 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Turnover |
956.900 |
670.900 |
1925.700 |
|
|
|
(29.888) |
187.032 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Turnover |
956.900 |
670.900 |
1925.700 |
|
Profit |
8.597 |
4.394 |
10.703 |
|
|
0.90% |
0.65% |
0.56% |
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 |
Yes |
|
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
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 |
Note: The Registered Office of the company has been shifted from “331, Kucha Ghasi Ram, Chandni Chowk, Delhi-110006, India” to the present address w.e.f. 15.02.2014
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long Term Borrowing
|
|
|
|
Loans and advances from related parties |
80.771 |
74.919 |
|
Total |
80.771 |
74.919 |
INDEX OF CAHREGS:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER
(SRN) |
|
1 |
10375191 |
31/08/2012 |
2,100,000.00 |
PUNJAB NATIONAL BANK |
SADABAD BRANCH,
SADABAD, HATHRAS - |
B57556623 |
|
2 |
10294157 |
28/02/2015 * |
110,941,000.00 |
UTTAR PRADESH FINANCIAL CORPORATION |
14/88, CIVIL LINES, KANPUR - 208001, Uttar Pradesh, INDIA |
C49778301 |
|
3 |
10269003 |
04/02/2015 * |
511,300,000.00 |
PUNJAB NATIONAL BANK |
SADABAD BRANCH,
SADABAD, HATHRAS- |
C44794766 |
* Date
of charge modification
FIXED ASSETS:
- Land
- Building
- Plant and Machinery
- Generators
- Furniture’s and Fixtures
- Office Equipment
- Camera Security
- Computers
- Car
- Computer software’s
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.66.14 |
|
|
1 |
Rs.98.69 |
|
Euro |
1 |
Rs.72.55 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
KSP |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.