MIRA INFORM REPORT
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Report No. : |
303218 |
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Report Date : |
25.01.2015 |
IDENTIFICATION DETAILS
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Name : |
GROWTECH AGRI SCIENCE PRIVATE LIMITED |
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Registered
Office : |
401-Block-A, PRK Maple, A. B. Road Rau, Indore-453331, Madhya Pradesh |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
01.09.2010 |
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Com. Reg. No.: |
10-024231 |
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Capital Investment
/ Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U24100MP2010PTC024231 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Supplier of bio Fertilizers and Dealer in agriculture
pump sets, machine parts, accessories, ancilliaies, stores and spares, agriculture
and all types of tools. |
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No. of Employees
: |
28 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (27) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 1100 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject was established as partnership concern during 2007 by the name
‘Growtech Science’ and during 2010 it got reconstituted as a private limited
company. Even though the company was incorporated during 2010, the business
activities were started in the company during April 2011. Management has failed to file latest financials of FY14 with the
statutory authorities as per available of FY13, the company has reported high
gearing and modest scale of operations. However, trade relations seems to be improving. Business is active.
Payment terms are unknown. In view of lack of latest financial statement, the company can be
considered for business dealings with some caution. |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
Not Available |
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Rating |
Not Available |
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Rating Explanation |
Not Available |
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Date |
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. Sanjay Patidar |
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Designation : |
Director |
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Contact No.: |
91-9301514918 |
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Date : |
22.01.2015 |
LOCATIONS
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Registered Office / Factory : |
401-Block-A, PRK Maple, A. B. Road Rau, Indore-453331, Madhya Pradesh, India |
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Tel. No.: |
91-731-4031920 / 2856994 |
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Mobile No.: |
91-9301514918 (Mr. Sanjay Patidar) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
(AS ON 30.09.2013)
|
Name : |
Mr. Sanjay Patidar |
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Designation : |
Director |
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Address : |
36-B, Brijvihar Colony,
Near Panchal Aata Chakki, Annpurna, Indore, Madhya Pradesh, India |
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Date of Birth/Age : |
05.07.1977 |
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Date of Appointment : |
01.09.2010 |
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DIN No.: |
03066813 |
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Name : |
Mr. Hemraj Ramkrishna Kose |
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Designation : |
Director |
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Address : |
6, Kose Velding Yannda Dekoreshan Javal, Navin, Nagar
Parishad Samorun Gadegav |
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Date of Birth/Age : |
05.07.1977 |
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Date of Appointment : |
01.09.2010 |
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DIN No.: |
03182749 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2013)
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Names of Shareholders |
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No. of Shares |
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Sanjay Patidar |
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5000 |
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Hemraj Ramkrishna Kose |
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5000 |
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Total |
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10000 |
(AS ON 30.09.2013)
Equity Shares Break – up
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Supplier of bio Fertilizers and Dealer in agriculture
pump sets, machine parts, accessories, ancilliaies, stores and spares,
agriculture and all types of tools. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
Not Divulged |
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Customers : |
Wholesalers, Retailers and End Users
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No. of Employees : |
28 (Approximately) |
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Bankers : |
· HDFC Bank Bhavanipur Colony, Indore, Madhya Pradesh, India · State Bank of India · The Cosmos Co-operative Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Bharat Kumar Agarwal and Company
Chartered Accountants |
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Address : |
62-Girdhar Nagar, Near Tilak Nagar, Indore – 452001, Madhya
Pradesh, India |
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Tel No.: |
91-731-4035623 |
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Mobile No.: |
91-9893399744 |
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PAN No.: |
AAIFB1214D |
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Email : |
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Associates/Subsidiaries : |
·
Dharti Place For Agro Horti
Solutions 95/1, Om Sairam Colony, CAT Road, Indore –
450012, Madhya Pradesh, India Activity: Manufacturer of Agro Products. |
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Memberships : |
-- |
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Collaborators : |
-- |
CAPITAL STRUCTURE
(AS ON 30.09.2013)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
Million |
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(AS ON 31.03.2013)
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
Million |
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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 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
0.100 |
0.100 |
0.100 |
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(b) Reserves &
Surplus |
0.253 |
0.025 |
0.000 |
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(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’ Funds
(1) + (2) |
0.353 |
0.125 |
0.100 |
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(3) Non-Current
Liabilities |
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(a) long-term borrowings |
1.162 |
0.000 |
0.000 |
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(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
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(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
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(d) long-term provisions |
0.000 |
0.000 |
0.000 |
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Total Non-current
Liabilities (3) |
1.162 |
0.000 |
0.000 |
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(4) Current Liabilities |
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(a) Short term borrowings |
0.543 |
0.424 |
0.000 |
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(b) Trade payables |
2.973 |
1.945 |
0.000 |
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(c) Other current
liabilities |
1.676 |
0.568 |
0.003 |
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(d) Short-term provisions |
0.208 |
0.114 |
0.000 |
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Total Current Liabilities
(4) |
5.400 |
3.051 |
0.003 |
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TOTAL |
6.915 |
3.176 |
0.103 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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(i) Tangible assets |
1.871 |
0.592 |
0.000 |
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(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
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(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
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(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
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(b) Non-current
Investments |
0.776 |
0.000 |
0.000 |
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(c) Deferred tax assets
(net) |
0.065 |
0.021 |
0.000 |
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(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
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(e) Other Non-current
assets |
0.005 |
0.005 |
0.000 |
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Total Non-Current Assets |
2.717 |
0.618 |
0.000 |
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(2) Current assets |
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(a) Current investments |
0.000 |
0.000 |
0.000 |
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(b) Inventories |
0.487 |
0.141 |
0.000 |
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(c) Trade receivables |
2.710 |
2.001 |
0.000 |
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(d) Cash and cash
equivalents |
0.797 |
0.247 |
0.073 |
|
(e) Short-term loans and
advances |
0.204 |
0.169 |
0.000 |
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(f) Other current assets |
0.000 |
0.000 |
0.030 |
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Total Current Assets |
4.198 |
2.558 |
0.103 |
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TOTAL |
6.915 |
3.176 |
0.103 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
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SALES |
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Revenue from Operations |
|
11.917 |
0.000 |
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Other Income |
|
1.144 |
0.000 |
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TOTAL (A) |
17.252 |
13.061 |
0.000 |
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Less |
EXPENSES |
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|
7.413 |
0.000 |
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Employee benefit Expenses |
|
2.017 |
0.000 |
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Others Expenses |
|
3.367 |
0.000 |
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TOTAL (B) |
16.951 [Including
finance and depreciation] |
12.797 |
0.000 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
0.264 |
0.000 |
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Less |
FINANCIAL
EXPENSES (D) |
|
0.058 |
0.000 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
0.206 |
0.000 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.170 |
0.000 |
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PROFIT BEFORE
TAX (E-F) (G) |
0.301 |
0.036 |
0.000 |
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Less |
TAX (H) |
0.073 |
0.011 |
0.000 |
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PROFIT AFTER TAX
(G-H) (I) |
0.228 |
0.025 |
0.000 |
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Earnings Per
Share (Rs.) |
22.80 |
2.53 |
-- |
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Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
80.000 |
Expected Sales ( 2014-2015 ) : Rs.120.000
The above information has been parted by Sanjay Patidar.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin |
(%) |
1.32 |
0.21 |
0.00 |
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Operating Profit Margin |
(%) |
1.74 |
2.22 |
0.00 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.96 |
1.14 |
0.00 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.85 |
0.29 |
0.00 |
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Debt Equity Ratio (Total Debt/Networth) |
|
4.83 |
3.39 |
0.00 |
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|
Current Ratio (Current Asset/Current Liability) |
|
0.78 |
0.84 |
34.33 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
0.100 |
0.100 |
0.100 |
|
Reserves & Surplus |
0.000 |
0.025 |
0.253 |
|
Net worth |
0.100 |
0.125 |
0.353 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
1.162 |
|
Short term borrowings |
0.000 |
0.424 |
0.543 |
|
Total borrowings |
0.000 |
0.424 |
1.705 |
|
Debt/Equity ratio |
0.000 |
3.392 |
4.830 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales
|
0.000 |
11.917 |
17.252 |
|
|
|
44.768 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
0.000 |
11.917 |
17.252 |
|
Profit |
0.000 |
0.025 |
0.228 |
|
|
0.21% |
1.32% |
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 |
No |
|
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 two years |
Yes |
|
13] |
Reasons for variation <> 20% |
----- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm / promoter
involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
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 |
BUSINESS REVIEW:
During the period, the Company was able to earn Total Income of Rs. 17.252 Millions and net profit after tax for the year of Rs 0.228 Million. The authorised share capital of the Company is Rs.0.500 Million. The Issued, Subscribed and Fully Paid-up Capital is Rs.0.100 Million at the end of accounting period.
NOTE :
As confirmed by Mr. Sanjay Patidar the
registered office of the company has been shifted from LG – 13, Vikram
Square, Scheme No.71, Ranjeet Hanuman Road, Near HP Petrol Pump, Indore –
452001, Madhya Pradesh, India to the present address.
INDEX OF CHARGES : NO
CHARGES EXIST FOR COMPANY
FIXED ASSETS
- Car Swift desire
- Computer & Laptop
- Camera
- Car-Vista
- Furniture
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.61.50 |
|
UK Pound |
1 |
Rs.92.16 |
|
Euro |
1 |
Rs.69.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUB |
|
|
|
|
Analysis Done by
: |
GYT |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--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 |
|
27 |
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.