MIRA
INFORM REPORT
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Report No. : |
305066 |
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Report Date : |
30.01.2015 |
IDENTIFICATION DETAILS
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Name : |
PHOENIX OVERSEAS LIMITED [w.e.f.14.11.2011] |
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Formerly Known
As : |
PHOENIX OVERSEAS PRIVATE LIMITED [w.e.f.16.12.2008] PHOENIX COMMODITY EXPORT PRIVATE LIMITED |
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Registered
Office : |
13-B, Bidhan Sarani, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
31.12.2002 |
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Com. Reg. No.: |
21-095587 |
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Capital
Investment / Paid-up Capital : |
Rs. 7.238 Millions |
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CIN No.: [Company Identification
No.] |
U15314WB2002PLC095587 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CALP10301E |
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PAN No.: [Permanent Account No.] |
AADCP0393F |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Trader and Exporter of Agro Commodities. |
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No. of Employees
: |
50 (Approximately). |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (44) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 690000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established public limited company having satisfactory
track record. Trade relations seems to be fair. Business is active. Payment terms
are reported to be slow but correct. The concern can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
CRISIL |
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Rating |
Long term rating: “BB+” |
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Rating Explanation |
Inadequate credit quality and high credit
risk. |
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Date |
11.02.2014 |
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Rating Agency Name |
CRISIL |
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Rating |
Short term rating: “A4+” |
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Rating Explanation |
Minimal degree of safety and very high
credit risk. |
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Date |
11.02.2014 |
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
31-03-2014.
INFORMATION PARTED BY (PARTIAL DETAILS)
|
Name : |
Mr. Ujwal K. Das |
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Designation : |
Export Co-ordinator |
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Contact No.: |
91-9674911146 |
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Date : |
30.01.2015 |
LOCATIONS
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Registered/ Corporate Office : |
13-B, Bidhan Sarani, Amherst ST, 4th Floor, Chanda Plaza,
Kolkata – 700006, West Bengal, India |
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Tel. No.: |
91-33-22198668/ 9370/ 8752 |
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Mobile No.: |
91-9674911146 (Mr. Ujwal K. Das) |
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Fax No.: |
91-33-22199368 |
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E-Mail : |
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Website : |
DIRECTORS
As on 30.09.2014
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Name : |
Mr. Aparesh Nandi |
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Designation : |
Managing director |
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Address : |
63/1B, Hari Ghosh Street, Flat No. 3A, 3rd Floor, Kolkata –
700006, West Bengal, India |
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Date of Birth/Age : |
07.07.1963 |
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Qualification : |
Graduate |
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Date of Appointment : |
01.10.2011 |
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PAN No.: |
ACUPN1297N |
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Voter ID : |
HCH0194654 |
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DIN No.: |
00722439 |
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Other Directorship :
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Name : |
Mr. Uday Narayan Singh |
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Designation : |
Whole-time director |
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Address : |
Bungalow No. 7, Lakeland Country Club Vivian Valley, Bankra, Howrah –
711403, West Bengal, India |
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Date of Birth/Age : |
01.02.1959 |
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Qualification : |
Graduate |
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Date of Appointment : |
01.10.2011 |
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PAN No.: |
ALCPS0243E |
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Voter ID : |
CHX1600055 |
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DIN No.: |
00722449 |
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Other Directorship :
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Name : |
Mr. Jayanta Kumar Ghosh |
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Designation : |
Director |
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Address : |
30/ 26/ 1, Andul Road, Howrah – 711109, West Bengal, India |
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Date of Birth/Age : |
07.01.1964 |
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Qualification : |
Graduate |
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Date of Appointment : |
30.03.2012 |
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PAN No.: |
ADPPG0794F |
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Voter ID : |
MQC1436096 |
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DIN No.: |
00722445 |
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Other Directorship :
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Name : |
Mr. Kanhai Singh |
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Designation : |
Director |
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Address : |
32/ 7/ B, Mohanlal Bhalwala Road, Bally, Howrah – 711201, West Bengal,
India |
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Date of Birth/Age : |
12.08.1959 |
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Qualification : |
Matriculate |
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Date of Appointment : |
30.03.2012 |
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PAN No.: |
ALCPS0244D |
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Voter ID : |
BLG2784080 |
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DIN No.: |
00722435 |
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Other Directorship :
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KEY EXECUTIVES
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Name : |
Mr. Devshree Roy |
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Designation : |
Company Secretary |
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Address : |
2/14/1, T. N. Chatterjee Street, Kolkata – 700090, West Bengal, India |
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Date of Birth/Age : |
22.11.1981 |
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Date of Appointment : |
01.10.2011 |
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Voter ID : |
KTF2332567 |
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PAN No.: |
ASQPR7455N |
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Name : |
Mr. Ujwal K. Das |
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Designation : |
Export Co-ordinator |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Aparesh Nandi |
80093 |
11.07 |
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Uday Narayan Singh |
80093 |
11.07 |
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Jayanta Kumar Ghosh |
80093 |
11.07 |
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Kanhai Singh |
80093 |
11.07 |
|
BCPL Railway Infrastructure Limited, India |
38800 |
5.36 |
|
Debasis Sircar |
6093 |
0.84 |
|
AN Dealers Private Limited, India |
88757 |
12.26 |
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JKG Commercial Private Limited, India |
87557 |
12.10 |
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KS Vinimay Private Limited, India |
77755 |
10.74 |
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UNS Commercial Private Limited, India |
79357 |
10.96 |
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Tricon Logistics Engineering Consultancy Private Limited, India |
25134 |
3.47 |
|
Total |
723825 |
100.00 |
Allottees as on 22.11.2014
|
Names of Allottees |
No. of Shares |
|
Aparesh Nandi |
464539 |
|
Jayanta Kumar Ghosh |
464539 |
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Uday Narayan Singh |
464539 |
|
Kanhai Singh |
464539 |
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Debasis Sircar |
35339 |
|
AN Dealers Private Limited, India |
514790 |
|
JKG Commercial Private Limited, India |
507830 |
|
UNS Commercial Private Limited, India |
460270 |
|
KS Vinimay Private Limited, India |
450979 |
|
Tricon Logistics Engineering Consultancy Private Limited, India |
145777 |
|
BCPL Railway Infrastructure Limited, India |
225040 |
|
Total |
4198181 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
54.90 |
|
Directors or relatives of Directors |
45.10 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader and Exporter of Agro Commodities. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Agro Commodities |
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Countries : |
· Pakistan Bangladesh |
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Imports : |
-- |
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Terms : |
-- |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
Bank of India, Vivekananda Road Branch, 36/2, Vivekananda Road, Kolkata - 700007, West Bengal, India Account No.: 402120100000254 |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Jain Seth and Company Chartered Accountants |
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Address : |
12/1, Lindsay Street 1st Floor, Kolkata, West Bengal, India |
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E-Mail : |
ALLPS1749N |
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Income-tax
PAN of auditor or auditor's firm : |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
After 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Millions |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,922,006 |
Equity Shares |
Rs.10/- each |
Rs. 49.220 Millions |
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As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Millions |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
723,825 |
Equity Shares |
Rs.10/- each |
Rs. 7.238 Millions |
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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 |
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|
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|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
7.238 |
7.238 |
7.238 |
|
(b) Reserves & Surplus |
235.388 |
202.535 |
182.915 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
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|
|
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(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
242.626 |
209.773 |
190.153 |
|
|
|
|
|
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(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
18.711 |
23.743 |
40.753 |
|
(b) Deferred tax liabilities (Net) |
7.254 |
6.497 |
5.325 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.327 |
1.040 |
1.050 |
|
Total Non-current Liabilities (3) |
26.292 |
31.280 |
47.128 |
|
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|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
617.630 |
511.245 |
261.389 |
|
(b) Trade payables |
45.002 |
165.000 |
33.084 |
|
(c) Other current
liabilities |
18.808 |
11.030 |
31.318 |
|
(d) Short-term provisions |
3.758 |
0.000 |
0.000 |
|
Total Current Liabilities (4) |
685.198 |
687.275 |
325.791 |
|
|
|
|
|
|
TOTAL |
954.116 |
928.328 |
563.072 |
|
|
|
|
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|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
100.824 |
105.093 |
109.308 |
|
(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 |
39.420 |
39.369 |
39.369 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
13.201 |
13.739 |
11.745 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
153.445 |
158.201 |
160.422 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
117.886 |
317.403 |
118.619 |
|
(c) Trade receivables |
328.191 |
176.332 |
80.782 |
|
(d) Cash and cash
equivalents |
338.284 |
246.848 |
146.513 |
|
(e) Short-term loans and
advances |
13.355 |
26.589 |
48.225 |
|
(f) Other current assets |
2.955 |
2.955 |
8.511 |
|
Total Current Assets |
800.671 |
770.127 |
402.650 |
|
|
|
|
|
|
TOTAL |
954.116 |
928.328 |
563.072 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
6658.876 |
3925.442 |
3547.020 |
|
|
|
Other Income |
11.017 |
14.304 |
7.414 |
|
|
|
TOTAL (A) |
6669.893 |
3939.746 |
3554.434 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
6139.552 |
3654.232 |
3238.126 |
|
|
|
Employees Benefits Expense |
7.723 |
7.022 |
4.344 |
|
|
|
Other expenses |
353.132 |
167.268 |
207.462 |
|
|
|
TOTAL (B) |
6500.407 |
3828.522 |
3449.932 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
169.486 |
111.224 |
104.502 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
105.769 |
76.828 |
71.267 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
63.717 |
34.396 |
33.235 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.358 |
5.322 |
5.207 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
58.359 |
29.074 |
28.028 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
19.402 |
9.454 |
9.164 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
38.957 |
19.620 |
18.864 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
6181.600 |
3270.100 |
3377.331 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
54.00 |
27.60 |
26.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.59 |
0.50 |
0.53 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
2.55 |
2.83 |
2.95 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.38 |
3.27 |
5.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24 |
0.14 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.62 |
2.55 |
1.59 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17 |
1.12 |
1.24 |
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 |
7.238 |
7.238 |
7.238 |
|
Reserves & Surplus |
182.915 |
202.535 |
235.388 |
|
Net
worth |
190.153 |
209.773 |
242.626 |
|
|
|
|
|
|
long-term borrowings |
40.753 |
23.743 |
18.711 |
|
Short term borrowings |
261.389 |
511.245 |
617.630 |
|
Total
borrowings |
302.142 |
534.988 |
636.341 |
|
Debt/Equity
ratio |
1.589 |
2.550 |
2.623 |
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) |
|
Sales |
3547.020 |
3925.442 |
6658.876 |
|
|
|
10.669 |
69.634 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3547.020 |
3925.442 |
6658.876 |
|
Profit |
18.864 |
19.620 |
38.957 |
|
|
0.53% |
0.50% |
0.59% |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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) |
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 |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10294551 |
24/06/2011 |
1,850,000.00 |
BANK OF INDIA |
VIVEKANANDA ROAD BRANCH, 36/2, VIVEKANANDA ROAD, KOLKATA, WEST BENGAL - 700007, INDIA |
B15960784 |
|
2 |
10251017 |
28/09/2013 * |
250,000,000.00 |
BANK OF INDIA |
VIVEKANANDA ROAD BRANCH, 36/2, VIVEKANANDA ROAD, KOLKATA, WEST BENGAL - 700007, INDIA |
B87943072 |
|
3 |
10226739 |
28/09/2013 * |
846,600,000.00 |
BANK OF INDIA |
VIVEKANANDA ROAD BRANCH, 36/2, VIVEKANANDA ROAD, KOLKATA, WEST BENGAL - 700007, INDIA |
B87942264 |
|
4 |
10094469 |
12/03/2008 |
1,200,000.00 |
BANK OF INDIA |
VIVEKANANDA ROAD BRANCH, 36/2, VIVEKANANDA ROAD, KOLKATA, WEST BENGAL - 700007, INDIA |
A34555474 |
|
5 |
10029305 |
12/03/2009 * |
147,450,000.00 |
BANK OF INDIA |
VIVEKANANDA ROAD BRANCH, 36/2, VIVEKANANDA ROAD, KOLKATA, WEST BENGAL - 700007, INDIA |
A60794716 |
|
6 |
10029126 |
12/03/2009 * |
147,450,000.00 |
BANK OF INDIA |
VIVEKANANDA ROAD BRANCH, 36/2, VIVEKANANDA ROAD, KOLKATA, WEST BENGAL - 700007, INDIA |
A60794328 |
|
7 |
90255473 |
28/07/2007 * |
45,566,000.00 |
BANK OF INDIA |
VIVEKANANDA ROAD BRANCH, 36/2, VIVEKANANDA ROAD, KOLKATA, WEST BENGAL - 700007, INDIA |
A19583087 |
|
8 |
90256677 |
28/07/2007 * |
45,566,000.00 |
BANK OF INDIA |
VIVEKANANDA ROAD BRANCH, 36/2, VIVEKANANDA ROAD, KOLKATA, WEST BENGAL - 700007, INDIA |
A19582006 |
|
9 |
90246500 |
12/03/2009 * |
147,450,000.00 |
BANK OF INDIA |
VIVEKANANDA ROAD BRANCH, 36/2, VIVEKANANDA ROAD, KOLKATA, WEST BENGAL - 700007, INDIA |
A60793890 |
|
10 |
80018332 |
28/08/2008 * |
147,450,000.00 |
BANK OF INDIA |
VIVEKANANDA ROAD BRANCH, 36/2, VIVEKANANDA ROAD, KOLKATA, WEST BENGAL - 700007, INDIA |
A45930799 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans taken for other fixed assets |
13.978 |
13.964 |
|
Total |
13.978 |
13.964 |
REVIEW OF OPERATION
During the year, the Company had a total export turnover of Rs. 6181.600 Millions, comprising of various products like Soyabean Extraction, Maize, Mustard Oil Cake, Sea Shells, Meat Bone Meal, Sunflower Extraction, Wheat, Deoiled Rice, Rice Bran Oil (crude), fruits/vegetables in different countries, mainly in Bangladesh. The Merchant Export division also exported Machineries and other industrial and project inputs. This division of the Company is effectively supported by a warehouse at Malda which has a capacity of more than 8000 M.T. The Multi-purpose cold store of the Company located at corridor of Bangladesh in Malda also has immense export potential.
The Companys bags and garment manufacturing division has recorded an export turnover of Rs.14.300 Millions to various European countries like France, Italy, Germany. The Companys bag export division also has immense export potential particularly in the Euro Zone. The Company is a partner in a Bangladesh Rice Bran Oil Project namely KBC Agro Products Private Limited This venture commenced its operations in 2010 and has already started to generate profits.
FIXED ASSETS
Tangible Assets
· Land
Buildings
Plant
and Equipment
Furniture
and Fixtures
Vehicles
Motor
Vehicles
Office
Equipment
Computer
Equipments
Other
Equipments
Intangible Assets
· Computer Software
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.61.50 |
|
|
1 |
Rs.93.12 |
|
Euro |
1 |
Rs.69.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
SUC |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.