MIRA INFORM REPORT
|
Report No. : |
303848 |
|
Report Date : |
28.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
DOCTOR SEEDS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
46, Sunder Nagarm Lal Bagh, (Behind MBD Neopolis), Ferozepur Road,
Ludhiana – 141012, Punjab |
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
27.01.1998 |
|
|
|
|
Com. Reg. No.: |
16-021004 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.34.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51215PB1998PTC021004 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
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 |
|
|
|
|
Line of Business
: |
Production, Multiplication, Marketing and Import and
Export of Vegetable Seeds. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 270000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
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 operational
risk profile and losses that company has incurred from its operational
activities. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealing 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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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.
LOCATIONS
|
Registered Office : |
46, Sunder Nagarm Lal Bagh, (Behind MBD Neopolis), Ferozepur Road, Ludhiana
– 141012, Punjab, India |
|
Tel. No.: |
91-161-5059487/ 6517745/ 5076060-69 (10 Lines) |
|
Fax No.: |
91-161-5059487 |
|
E-Mail : |
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|
Website : |
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|
|
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Marketing Division : |
3693, Main Bazar, Near Kamla Nehru Park, Old Subzi Mandi, Delhi –
110007, India |
|
Tel No.: |
91-11-23822397 |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Jasminder Singh Punia |
|
Designation : |
Director |
|
Address : |
H. No.B-20/3259, Gali No.5, Gurdev Nagar, Ludhiana, India |
|
Date of Appointment : |
01.05.2003 |
|
DIN No.: |
00812341 |
|
|
|
|
Name : |
Dr. Rajinder Singh Punia |
|
Designation : |
Managing Director |
|
Address : |
H. No.B-20/3259, Gali No.5, Gurdev Nagar, Ludhiana, India |
|
Date of Appointment : |
27.01.1998 |
|
DIN No.: |
00812440 |
|
|
|
|
Name : |
Mrs. Rajwant Kaur |
|
Designation : |
Director |
|
Address : |
11 No.B-20/3259, Gali No.5, Gurdev Nagar, Ludhiana, India |
|
Date of Appointment : |
27.01.1998 |
|
DIN No.: |
00812493 |
|
|
|
|
Name : |
Mr. Jagdeep Singh |
|
Designation : |
Director |
|
Address : |
H. No.67, Defence Colony, B.R.S. Nagar, Ludhiana, India |
|
Date of Appointment : |
01.05.2003 |
|
DIN No.: |
00826734 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage |
|
Rajindra Singh Punia |
50918 |
14.98 |
|
Rajwant Kaur |
47600 |
14.00 |
|
Jasminder Singh Punia |
71482 |
21.02 |
|
Jagdeep Singh |
71482 |
21.02 |
|
Raminder Kaur |
98518 |
28.98 |
|
Total |
340000 |
100.00 |
AS ON 30.09.2014
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Production, Multiplication, Marketing and Import and
Export of Vegetable Seeds. |
|
|
|
|
Products : |
Vegetable Seeds |
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|
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
· ICICI Bank Limited, Nehru Sidhant Kender Building, Feroz Gandhi Marke, Ludhiana – 141001, Punjab, India · State Bank of India · Indian Overseas Bank · Punjab National Bank |
|
Auditors : |
|
|
Name : |
Pawan Kapur and Company Chartered Accountants |
|
Address : |
248, Sector 1-A, Trikuta Nagar, Jammu Tawi – 180012, Jammu and
Kashmir, India |
|
PAN No.: |
AAEFP6945M |
|
Tel No.: |
91-191-2473953/ 2473958 |
|
Mobile No.: |
91-9419190809 |
|
Email : |
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|
|
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
350000 |
Equity Shares |
Rs.100/- each |
Rs.35.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
340000 |
Equity Shares |
Rs.100/- each |
Rs.34.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Millions]
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 |
34.000 |
34.000 |
34.000 |
|
(b) Reserves & Surplus |
59.776 |
41.984 |
20.874 |
|
(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) |
93.776 |
75.984 |
54.874 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
2.057 |
1.142 |
0.793 |
|
(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) |
2.057 |
1.142 |
0.793 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
28.927 |
19.566 |
15.115 |
|
(c) Other
current liabilities |
22.791 |
18.376 |
25.996 |
|
(d) Short-term
provisions |
11.133 |
6.901 |
6.779 |
|
Total Current
Liabilities (4) |
62.851 |
44.843 |
47.890 |
|
|
|
|
|
|
TOTAL |
158.684 |
121.969 |
103.557 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
65.748 |
62.588 |
23.649 |
|
(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 |
4.713 |
4.713 |
4.713 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
5.039 |
8.984 |
3.861 |
|
(e) Other Non-current
assets |
0.097 |
0.119 |
0.142 |
|
Total Non-Current
Assets |
75.597 |
76.404 |
32.365 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
35.795 |
23.761 |
22.171 |
|
(c) Trade
receivables |
7.072 |
8.674 |
11.888 |
|
(d) Cash
and cash equivalents |
40.220 |
13.130 |
37.133 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
83.087 |
45.565 |
71.192 |
|
|
|
|
|
|
TOTAL |
158.684 |
121.969 |
103.557 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
160.898 |
151.575 |
|
|
|
Agriculture Income |
|
0.349 |
0.748 |
|
|
|
Other Income |
|
1.870 |
2.426 |
|
|
|
TOTAL |
193.093 |
163.117 |
154.749 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
160.905 |
133.594 |
135.572 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
32.188 |
29.523 |
19.177 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
8.840 |
4.856 |
6.106 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
23.348 |
24.667 |
13.071 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(3.515) |
0.374 |
5.859 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
15.000 |
25.000 |
15.000 |
|
|
|
Proposed Dividend |
3.060 |
3.060 |
3.060 |
|
|
|
Tax on Dividend |
0.496 |
0.496 |
0.496 |
|
|
NET PROFIT IN
PROFIT AND LOSS |
1.277 |
(3.515) |
0.374 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
68.67 |
72.55 |
38.44 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
N.A |
15.33 |
8.62 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.91 |
25.18 |
19.40 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34 |
0.39 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.32 |
1.02 |
1.49 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
34.000 |
34.000 |
34.000 |
|
Reserves & Surplus |
20.874 |
41.984 |
59.776 |
|
Net
worth |
54.874 |
75.984 |
93.776 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
154.749 |
163.117 |
193.093 |
|
|
|
5.407 |
18.377 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
154.749 |
163.117 |
193.093 |
|
Profit |
13.071 |
24.667 |
23.348 |
|
|
8.45% |
15.12% |
12.09% |
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 |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
----- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
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 |
No |
|
25] |
Conduct of the banking account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
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 |
NOTE:
The Registered office of the company has been
shifted from Room No.5, 5th Floor, Carnival Shopping complex, The
Mall, Ludhiana, Punjab, India, to the present address w.e.f. 19.03.2012.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10450303 |
14/09/2013 |
15,000,000.00 |
ICICI BANK Limited |
Nehru Sidhant Kender Building, Feroz Gandhi Marke |
B85477396 |
FIXED ASSETS:
· Land
· Building
· Electric Installations
· Plant and Machinery
· Tools
· Computer
· Office Equipment
· Vehicles
· Furniture and Fixture
· Tubewell
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.46 |
|
|
1 |
Rs.92.77 |
|
Euro |
1 |
Rs.69.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYTK |
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 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--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 |
NO |
|
--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 |
NO |
|
--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.