MIRA INFORM REPORT
|
Report No. : |
348730 |
|
Report Date : |
09.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
GLOBAL GREEN COMPANY LIMITED
(w.e.f 23.12.1997) |
|
|
|
|
Formerly Known
As : |
REITZEL INDIA LIMITED |
|
|
|
|
Registered
Office : |
Thapar House, 124,
Janpath, |
|
Tel. No.: |
91-11-23368332 / 23368811 |
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|
|
|
Country : |
India |
|
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|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
18.02.1992 |
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|
|
|
Com. Reg. No.: |
55-047666 |
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|
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Capital
Investment / Paid-up Capital : |
Rs. 979.423 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U02001DL1992PLC047666 |
|
|
|
|
IEC No.: |
3991000865 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
HYDG01662D |
|
|
|
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PAN No.: [Permanent Account No.] |
AAACR0635H |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
Line of Business
: |
Subject is engaged in the Growing, Manufacturing, Distribution and Selling of Various Pickled Agri-Produce. |
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|
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (13) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow and delayed |
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|
Litigation : |
Clear |
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|
Comments : |
Subject is a part of ‘Avantha Group’ having moderate track. For the year 2014, the company has decent revenue but reported
continuous losses since 2012. The company reported accumulated loss marked by huge borrowings. However, company gets good support from its group companies. Business is active. Payments are reported to be slow and delayed. The company can be considered for business dealings on fully safe and
secured 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
India Ratings and Research |
|
Rating |
“IND D” |
|
Rating Explanation |
Expected to be in default |
|
Date |
25.02.2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
LOCATIONS
|
Registered Office : |
Thapar House, 124, Janpath, New Delhi - 110001, India |
|
Tel. No.: |
91-11-23368332 / 23368811 |
|
Fax No.: |
91-11-23368729 |
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E-Mail : |
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|
Website : |
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Corporate Office. |
#14, 80 Feet Road, 4th Block, Koramangala Bangalore - 560034, Karnataka, India |
|
Tel. No.: |
91-80-25536035/25527217 |
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Fax No.: |
91-80-25536061 |
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Branch: |
Village : Venkatapur, Mandal Kohir, Zaheerabad, Medak – 502321, Telangana, India |
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Overseas Offices : |
Located At: · European · North America |
DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Digvijai Singh Gill |
|
Designation : |
Managing Director |
|
Address : |
P O box 449, Muscat 113, Muscat, 449, Oman |
|
Date of Birth/Age : |
07.02.1962 |
|
Qualification: |
B.A ( Economics ) (Columbia university) , M.B.A from Insead |
|
Date of Appointment : |
25.09.2012 |
|
PAN No.: |
BGFPG1625P |
|
DIN No.: |
01226565 |
|
|
|
|
Name : |
Mr. Gautam Thapar |
|
Designation : |
Director |
|
Address : |
E – 16, Pushpanjali Farm, Bijwasan, New Delhi – 110061, India |
|
Date of Birth/Age : |
07.12.1960 |
|
Date of Appointment : |
15.04.1994 |
|
PAN No.: |
ABNPT6298B |
|
DIN No.: |
00012289 |
|
|
|
|
Name : |
Mr. Bhuthalingam Hariharan |
|
Designation : |
Director |
|
Address : |
D-2/3, Paschimi Marg, Vasant Vihar, New Delhi - 110057, India |
|
Date of Birth/Age : |
18.04.1957 |
|
Qualification: |
ACA, AICWA and ACS |
|
Date of Appointment : |
18.11.2011 |
|
DIN No.: |
00012432 |
|
|
|
|
Name : |
Mr. Wilton Henriques |
|
Designation : |
Director |
|
Address : |
Silvan Mansion, Lady Jamshedji Road, Mahim, Mumbai-400016, Maharashtra,
India |
|
Date of Birth/Age : |
18.10.1955 |
|
Date of Appointment : |
17.09.2009 |
|
DIN No.: |
00059817 |
|
|
|
|
Name : |
Mr. Sharad Sanjay Sen |
|
Designation : |
Director |
|
Address : |
103a, Laburnum Court Greens, 3rd Floor,, Laburnum Group Housing Complex, Sushant Lok-1, Gurgaon, 122002, Haryana, India |
|
Date of Appointment : |
24.02.2015 |
|
DIN No.: |
05328562 |
|
|
|
|
Name : |
Mr. Rajesh Kumar Srivastava |
|
Designation : |
Director |
|
Address : |
S-376, (GF), Panchshila Park, New Delhi – 110017, India |
|
Date of Birth/Age : |
20.05.1957 |
|
Qualification: |
BA, LLB |
|
Date of Appointment : |
30.09.2010 |
|
DIN No.: |
00302223 |
|
|
|
|
|
|
|
Name : |
Mr. Sanjeev Chadha |
|
Designation : |
Director |
|
Address : |
No, 2 JLN Merah Pelangi U9/19, Monterez U9, Shah Alam Selangor - 40150, Malaysia |
|
Date of Appointment : |
08.07.2015 |
|
DIN No.: |
07224599 |
|
|
|
|
Name : |
Mr. Shalini M Gupta |
|
Designation : |
Director |
|
Address : |
F-7,Ground Floor, Haus Khas, New Delhi - 110016, Delhi, India |
|
Date of Appointment : |
14.05.2015 |
|
DIN No.: |
00061404 |
KEY EXECUTIVES
|
Name : |
Mr. Ananya Ganguly |
|
Designation : |
Secretary |
|
Address : |
Flat No. C 701, Sarjapur Outr Ring Road Crossing, Mantri Flora,
Bangalore – 560102, Karnataka, India |
|
Date of Birth/Age : |
30.03.1970 |
|
Date of Appointment : |
01.12.2012 |
|
PAN No.: |
AFPPA8078Q |
|
|
|
|
Name : |
Mr. Davinder Narang |
|
Designation : |
CFO |
|
Address : |
40, Ozone Residenza, Haralur Road, Off Sarjapur Road, Bangalore - 560066, Karnataka, India |
|
Date of Birth/Age : |
10.02.1966 |
|
Date of Appointment : |
14.11.2014 |
|
PAN No.: |
AAHPN6599A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2014
|
Names of Equity Shareholders |
No. of Shares |
|
Avantha Holdings Limited, India |
41631164 |
|
Krishnan S |
10 |
|
Ramesh Kumar Chopra |
10 |
|
Banthia S |
10 |
|
Surendra Kumar Khandelwal |
20 |
|
Akhil Mahajan |
10 |
|
India Agri Business Fund Limited, Mauritius, India |
11271475 |
|
Rajesh Shrivastava on Behalf of Real Trust |
39593 |
|
Total |
52942292 |
|
Names of Preference Shareholders |
No. of Shares |
|
Avantha Holdings Limited, India |
45000000 |
|
Total |
45000000 |
As on 29.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
21.29 |
|
Bodies corporate |
78.71 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the growing, manufacturing,
distribution and selling of various pickled agri-produce. |
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Products : |
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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 : |
Not Available |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
· ICICI Bank Limited, Singapore Branch, 9 Raffles Place, # 50-01, Republic Plaza, Singapore - 048619, India · Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India · Canara Bank, Agri Finance Branch, Unity Buildings, JC Road, Bangalore - 560002, Karnataka, India ·
Export-Import Bank of India, Centre One
Building, Floor 21, World Trad Centre Complex, Cuffe Parade, Mumbai - 400005,
Maharashtra, India |
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Facilities : |
NOTE LONG TERM
BORROWINGS (a) Second Pari-passu charge on all fixed assets of the company. (b) Second Pari- passu charge on all current assets of the company. (c) Secured by Corporate guarantee of Avantha Holdings Limited, the holding company , against which a counter guarantee is provided by the company (d) Details of loan tenor and moratorium: - Term Loan 1 ( Rs. 20.000 Million included as current maturities of long term loan –Rs. 30.000Million (Total Loan received) - 24 (Tenor in months) - 6 (Moratorium in months) - Term Loan 2 – Rs. 30.000 Million (Total Loan received) - 36 (Tenor in months) – 6 (Moratorium in months) - Term Loan 3 – Rs.120.000 Million (Total Loan received) - 60 (Tenor in months) - 12 (Moratorium in months) (e) Applicable interest rate Bank base rate + 3.75% per annum SHORT TERM BORROWINGS Working capital loans from banks are secured by hypothecation of inventories, book debts and receivables both present and future along with second Pari-passu charge on all fixed assets of the company and corporate guarantee of Avantha Holdings Limited, the holding company. Applicable Interest rate is 8.25% to 14.25%. |
|
Auditors : |
|
|
Name : |
Walker, Chandiok and Company Chartered Accountants |
|
Address : |
Wings, First Floor, 16/1, Cambridge Road, Ulsoor, Bangalore - 560008, Karnataka, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFW4298E |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding company : |
CIN No.:U67120DL1998PLC198627 |
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Fellow Subsidiary
Company : |
CINNo.;U21019DL1975PLC198598 |
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Subsidiary
Company: |
· Global Green USA Limited · GG International NV · Intergarden NV · Dunakiliti Konzervem KFT · Puszta Konzervuzem KFT · Intergarden (India) Private Limited · CIN No.: U01513DL1999PTC214146 |
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Associate : |
· Bilt Paper Limited · Bilt Tissues Private Limited · MTP New Ocean (Mauritius) Limited · Ballarpur Industries Limited · CIN No.: L21010MH1945PLC010337 · Solaris Chemtech Industries Limited · CIN No.: U24119DL2001PLC111100 · Avantha Technologies Limited · CIN No.: U72300DL2004PLC128864 |
CAPITAL STRUCTURE
After 29.09.2014
Authorised Capital : Rs. 4790.000
Million
Issued, Subscribed & Paid-up Capital : Rs. 2772.456 Million
As on 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
53,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 530.000 Million |
|
45,000,000 |
Preference Shares |
Rs.10/- each |
Rs. 450.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 980.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
52,942,292 |
Equity Shares |
Rs.10/- each |
Rs. 529.423 Million |
|
45,000,000 |
Preference Shares |
Rs.10/- each |
Rs. 450.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 979.423
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
979.423 |
979.423 |
424.195 |
|
(b) Reserves & Surplus |
(954.641) |
(359.538) |
58.857 |
|
(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) |
24.782 |
619.885 |
483.052 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
971.000 |
711.285 |
843.131 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
9.009 |
8.265 |
7.204 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
980.009 |
719.550 |
850.335 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
1233.233 |
1139.594 |
977.412 |
|
(b) Trade
payables |
1044.904 |
891.397 |
676.419 |
|
(c) Other
current liabilities |
460.824 |
400.899 |
150.670 |
|
(d) Short-term
provisions |
0.712 |
0.653 |
137.232 |
|
Total Current
Liabilities (4) |
2739.673 |
2432.543 |
1941.733 |
|
|
|
|
|
|
TOTAL |
3744.464 |
3771.978 |
3275.120 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
569.150 |
584.030 |
400.729 |
|
(ii)
Intangible Assets |
30.600 |
41.075 |
29.167 |
|
(iii)
Capital work-in-progress |
1.199 |
4.429 |
4.035 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1376.006 |
1328.994 |
1328.992 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
313.669 |
301.944 |
175.835 |
|
(e) Other
Non-current assets |
16.038 |
16.582 |
14.906 |
|
Total Non-Current
Assets |
2306.662 |
2277.054 |
1953.664 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
679.297 |
610.603 |
445.733 |
|
(c) Trade
receivables |
591.195 |
678.078 |
811.623 |
|
(d) Cash
and cash equivalents |
6.997 |
11.013 |
27.433 |
|
(e) Short-term
loans and advances |
160.313 |
195.230 |
36.667 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1437.802 |
1494.924 |
1321.456 |
|
|
|
|
|
|
TOTAL |
3744.464 |
3771.978 |
3275.120 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1690.219 |
1922.443 |
1624.444 |
|
|
|
Other Income |
18.476 |
11.236 |
15.867 |
|
|
|
TOTAL (A) |
1708.695 |
1933.679 |
1640.311 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
945.642 |
1175.992 |
923.274 |
|
|
|
Purchases of Stock-in-Trade |
57.479 |
23.726 |
24.740 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(52.520) |
(83.755) |
109.042 |
|
|
|
Employees benefits expense |
225.517 |
185.172 |
168.563 |
|
|
|
Other expenses |
853.746 |
748.950 |
527.223 |
|
|
|
Exceptional Items |
0.000 |
0.000 |
63.746 |
|
|
|
TOTAL (B) |
2029.864 |
2050.085 |
1816.588 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
(321.169) |
(116.406) |
(176.277) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
193.784 |
159.396 |
182.260 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(514.953) |
(275.802) |
(358.537) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
81.157 |
59.524 |
71.422 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(596.110) |
(335.326) |
(429.959) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(1.220) |
0.000 |
15.332 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(594.890) |
(335.326) |
(445.291) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. value of exports |
1275.201 |
1649.189 |
1327.712 |
|
|
TOTAL EARNINGS |
1275.201 |
1649.189 |
1327.712 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
99.317 |
133.224 |
127.365 |
|
|
|
Components and Spare Parts |
4.781 |
15.565 |
5.744 |
|
|
TOTAL IMPORTS |
104.098 |
148.789 |
133.109 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(11.24) |
(7.56) |
(11.50) |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
159.415 |
160.714 |
58.209 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from operating activity |
30.773 |
(322.288) |
(487.675) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(35.20) |
(17.44) |
(27.41) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
(19.00) |
(6.06) |
(10.85) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(25.18) |
(13.75) |
(22.14) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(24.05) |
(0.54) |
(0.89) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
95.38 |
3.25 |
3.89 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.52 |
0.61 |
0.68 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
424.195 |
979.423 |
979.423 |
|
Reserves & Surplus |
58.857 |
(359.538) |
(954.641) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
483.052 |
619.885 |
24.782 |
|
|
|
|
|
|
long-term borrowings |
843.131 |
711.285 |
971.000 |
|
Short term borrowings |
977.412 |
1139.594 |
1233.233 |
|
Current maturities of
long-term debts |
58.209 |
160.714 |
159.415 |
|
Total
borrowings |
1878.752 |
2011.593 |
2363.648 |
|
Debt/Equity
ratio |
3.889 |
3.245 |
95.378 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1624.444 |
1922.443 |
1690.219 |
|
|
|
18.345 |
(12.080) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1624.444 |
1922.443 |
1690.219 |
|
Profit/ (Loss) |
(445.291) |
(335.326) |
(594.890) |
|
|
(27.41%) |
(17.44%) |
(35.20%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10424050 |
09/04/2013 |
285,000,000.00 |
THE RATNAKAR BANK LIMITED |
SHAHUPURI,KOLHAPUR, KOLHAPUR, MAHARASHTRA - 416001, INDIA |
B74537937 |
|
2 |
10394039 |
26/12/2012 * |
120,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA,, DR. |
B65227407 |
|
3 |
10394120 |
08/11/2012 |
30,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DR. |
B64899396 |
|
4 |
10315579 |
28/12/2012 * |
40,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DR. |
B65226946 |
|
5 |
10314613 |
08/11/2012 * |
420,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE,
DISCOVERY OF INDIA, DR. |
B64889090 |
|
6 |
10075273 |
25/10/2007 |
100,000,000.00 |
CANARA BANK |
AGRI FINANCE BRANCH, UNITY BUILDINGS , J.C. ROAD, BANGALORE, KARNATAKA - 560002, INDIA |
A26310003 |
|
7 |
10048768 |
26/02/2008 * |
100,000,000.00 |
CANARA BANK |
AGRI FINANCE BRANCH, UNITY BUILDINGS, J C ROAD, BANGALORE, KARNATAKA - 560002, INDIA |
A33939257 |
|
8 |
90041032 |
08/11/2012 * |
735,000,000.00 |
CANARA BANK |
HI-TECH AGRICULTURAL FINANCE BRANCH, 'M' BLOCK, UNITY BUILDING, J C ROAD, BANGALORE, KARNATAKA - 560002, INDIA |
B65241242 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from others |
880.500 |
516.000 |
|
Total |
880.500 |
516.000 |
GENERAL
INFORMATION
The Company was incorporated in accordance with the provisions of the Companies Act, 1956 (the Act) and is engaged in the growing, manufacturing, distribution and selling of various pickled agri-produce.
OPERATIONAL
PERFORMANCE (ON STANDALONE BASIS)
During the year, the Company achieved a turnover of Rs. 1690.220 Million as against Rs. 1922.440 Million in the previous financial year registering a decrease of 12.08% year on year. The Company’s PAT was Rs. (594.890) Million for the year ended 31st March 2014 as compared to Rs. (335.330) Million for the year ended 31 March 2013.
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Motor Vehicles
· Office Equipment
· Computer Equipments
· Leasehold Improvements
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 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 |
|
|
1 |
Rs.92.16 |
|
Euro |
1 |
Rs.69.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
AMT |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILITY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
13 |
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.