MIRA INFORM REPORT
|
Report No. : |
304199 |
|
Report Date : |
21.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
SAHYADRI FARMERS
PRODUCER COMPANY LIMITED |
|
|
|
|
Registered
Office : |
Sr. No. 1102/8, Behind Police Head Quarter, At Post Adgaon, Nashik –
422003, Maharashtra |
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|
|
|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
27.12.2010 |
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|
|
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Com. Reg. No.: |
11-211392 |
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Capital
Investment / Paid-up Capital : |
Rs. 49.120 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U01403MH2010PTC211392 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NSKS14266A |
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|
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PAN No.: [Permanent Account No.] |
AAPCS1516D |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Trader, Exporter and Importer of Fruits. |
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|
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|
No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
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 : |
Subject is an established company having moderate track record. The rating is constrained on account of company’s moderate financial
risk profile and low reserves of the company. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealings with some caution.
NOTE: 23AC documents for the year 2014 could not be made available from any
source. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
NOT AVAILABLE
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. Madan Vishram Shinde |
|
Designation : |
Director |
|
Contact No.: |
91-9765533944 |
|
Date : |
19.01.2015 |
LOCATIONS
|
Registered Office : |
Sr. No. 1102/8, Behind Police Head Quarter, At Post Adgaon, Nashik –
422003, Maharashtra, India |
|
Tel. No. : |
91-253-2023497 |
|
Mobile No. : |
91-9765533944 (Mr. Madan Vishram Shinde) |
|
Fax No. : |
Not Available |
|
E-Mail : |
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|
Website : |
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|
Area : |
350 Sq. ft. |
|
Location : |
Owned |
|
Locality : |
Commercial |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Vilas Vishnu Shinde |
|
Designation : |
Managing Director |
|
Address : |
1102/8 BH, Police Barak, Adgaon, Nashik – 422003, Maharashtra, India |
|
Date of Birth/Age : |
08.01.1974 |
|
Date of Appointment : |
27.12.2010 |
|
DIN No. : |
02771771 |
|
|
|
|
Name : |
Mr. Vivekanand Totaram Nemade |
|
Designation : |
Director |
|
Address : |
A-656 Market yaro Shoping Centre Dindorird Nashik – 422003,
Maharashtra, India |
|
Date of Birth/Age : |
05.06.1978 |
|
Date of Appointment : |
27.12.2010 |
|
DIN No. : |
02771789 |
|
|
|
|
Name : |
Mr. Madan Vishram Shinde |
|
Designation : |
Director |
|
Address : |
1533, Chari No. 7, Adgaon, Nashik – 422003, Maharashtra, India |
|
Date of Birth/Age : |
07.03.1981 |
|
Date of Appointment : |
27.12.2010 |
|
DIN No. : |
02771791 |
|
|
|
|
Name : |
Mr. Dnyaneshwar Pundalik Hire |
|
Designation : |
Director |
|
Address : |
A-656 Market Yard Shopping Complex, Dindori Road, Nashik – 422003,
Maharashtra, India |
|
Date of Birth/Age : |
17.01.1970 |
|
Date of Appointment : |
27.12.2010 |
|
DIN No. : |
02771800 |
|
|
|
|
Name : |
Mr. Mangesh Kisan Bhaskar |
|
Designation : |
Director |
|
Address : |
At Vithalwadi Agar, Ral Post Junner, Pune – 410502, Maharashtra, India
|
|
Date of Birth/Age : |
25.07.1969 |
|
Date of Appointment : |
27.12.2010 |
|
DIN No. : |
02771802 |
KEY EXECUTIVES
|
Name : |
Mr. Prashant |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Jaykrishnya Prashant Dhirendra |
1 |
|
Chavan Shivaji Shankar |
600 |
|
Shinde Arti Vilas |
6260 |
|
Shinde Vaishali Subhas |
5844 |
|
Shinde Subhash Vishnu |
6044 |
|
Shinde Bhimabai Vishnu |
5818 |
|
Jaykrishnya Dhirendra |
20 |
|
Gawali Bhausaheb |
300 |
|
Gawali Namdeo Balkrushna |
300 |
|
Gunjal Ramesh Waman |
150 |
|
Deshmukh Shivaji Shankar |
400 |
|
Mulane Somnath Govind |
400 |
|
Shinde Vishnu Tolaji |
1600 |
|
Shinde Balusaheb Tolaji |
600 |
|
Shinde Devram Tolaji |
600 |
|
Shinde Motiram |
600 |
|
Shinde Dilip Shitaram |
600 |
|
Shinde Jayram |
400 |
|
Purkar Vanita Deepak |
100 |
|
Sonawane Sanjay |
25 |
|
Pimpalke Ananda |
25 |
|
Rikame Navnath Walu |
300 |
|
Vilas Vishnu Shinde |
8371 |
|
Dyaneshwar Pundalik Hire |
100 |
|
Madan Vishram Shinde |
500 |
|
Mangesh Kisan Bhaskar |
121 |
|
Vikekanand Totaram Nemade |
21 |
|
|
|
|
Total |
40100 |
AS ON 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Exporter and Importer of Fruits. |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Fruits |
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Countries : |
· Europe · UK · Gulf Country · Asian Country |
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Imports : |
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Products : |
Fruits |
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Countries : |
· Europe · Asia |
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Terms : |
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Selling : |
Cash and Advance Payment |
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Purchasing : |
Cash and Advance Payment |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers and End Users
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No. of Employees : |
40 (Approximately) |
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Bankers : |
· Development Credit Bank Rohit Building Off. J. M. Road, Neat to Hotel Central Park, Pune –
411030, Maharashtra, India |
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Facilities : |
TL = Rs. 150.000 Millions |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Yogesh Deshmukh and Associates Chartered Accountants |
|
Address : |
13, Suvidhinath CHS, Opposite Main Fire Birgade, Shingada Talav, Nashik – 422001, Maharashtra, India |
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Tel. No. : |
91-253-2594230 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AASPW3239P |
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Related Party : |
Vilas Vishnu Shinde [Proprietorship] |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.5000/- each |
Rs. 250.000 Millions |
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|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40100 |
Equity Shares |
Rs.5000/- each |
Rs. 200.500 Millions |
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AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.5000/- each |
Rs. 250.000 Millions |
|
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9824 |
Equity Shares |
Rs.5000/- each |
Rs. 49.120 Millions |
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|
|
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|
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 |
49.120 |
0.100 |
0.100 |
|
(b) Reserves & Surplus |
1.793 |
0.131 |
0.000 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
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|
(2)
Share Application money pending allotment |
0.000 |
0.515 |
0.515 |
|
Total
Shareholders’ Funds (1) + (2) |
50.913 |
0.746 |
0.615 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.000 |
0.000 |
0.000 |
|
|
|
|
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|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
7.850 |
0.000 |
|
(b) Trade
payables |
229.635 |
55.052 |
0.462 |
|
(c) Other
current liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Short-term
provisions |
0.644 |
0.059 |
0.000 |
|
Total Current
Liabilities (4) |
230.279 |
62.961 |
0.462 |
|
|
|
|
|
|
TOTAL |
281.192 |
63.707 |
1.077 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
47.668 |
7.606 |
0.000 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.025 |
0.025 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
47.693 |
7.631 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.606 |
0.915 |
0.000 |
|
(c) Trade
receivables |
219.995 |
36.101 |
0.777 |
|
(d) Cash
and cash equivalents |
1.496 |
0.560 |
0.116 |
|
(e) Short-term
loans and advances |
9.948 |
18.230 |
0.000 |
|
(f) Other
current assets |
1.454 |
0.270 |
0.184 |
|
Total
Current Assets |
233.499 |
56.076 |
1.077 |
|
|
|
|
|
|
TOTAL |
281.192 |
63.707 |
1.077 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
0.000 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
2.405 |
0.190 |
0.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
2.405 |
0.190 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.743 |
0.059 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
1.662 |
0.131 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
169.18 |
13.33 |
0.00 |
|
|
Particulars |
|
|
31.03.2014 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
1000.000 |
|
|
|
|
|
The above information has been parted by Mr. Madan Shinde [Director]
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.86 |
0.30 |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.25 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
10.52 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.01 |
0.89 |
2.33 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particulars |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
0.100 |
0.100 |
49.120 |
|
Reserves & Surplus |
0.000 |
0.131 |
1.793 |
|
Share Application money pending allotment |
0.515 |
0.515 |
0.000 |
|
Net
worth |
0.615 |
0.746 |
50.913 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
7.850 |
0.000 |
|
Total
borrowings |
0.000 |
7.850 |
0.000 |
|
Debt/Equity ratio |
0.000 |
10.523 |
0.000 |
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
two 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 |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
No |
CURRENT MATURITIES
OF LONG TERM DEBT: NOT AVAILABLE
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10461024 |
08/11/2013 |
180,000,000.00 |
DEVELOPMENT
CREDIT BANK |
ROHIT BUILDING,
OFF.J.M.ROAD, NEXT TO HOTEL CENTRAL PARK, PUNE, MAHARASHTRA - 411030, INDIA |
B89874804 |
UNSECURED LOANS
|
PARTICULARS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and advance
from related parties |
|
|
|
Bhimabhai B Shinde |
0.000 |
0.850 |
|
M/s Vilas Vishnu Shinde |
0.000 |
7.000 |
|
|
|
|
|
Total |
0.000 |
7.850 |
FIXED ASSETS
· Building
· Plant and Equipment
· Land
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 againstsubject: 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. 61.85 |
|
|
1 |
Rs. 93.27 |
|
Euro |
1 |
Rs. 71.57 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.