MIRA INFORM REPORT
|
Report No. : |
343845 |
|
Report Date : |
10.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
THALLI GROWERS |
|
|
|
|
Registered
Office : |
H.No.1-10-88, JJ Nagar Colony, Lane 6, Temple Alwal, Secunderabad –
500062, Telangana |
|
Mobile No.: |
91-7032814388 (Mr. S.V. Ramesh Kumar) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 (Provisional) |
|
|
|
|
Year of Establishment
: |
2009 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3.000 Million |
|
|
|
|
TIN No.: |
36178844923 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
BLKPA9429B |
|
|
|
|
Legal Form : |
Partnership Concern with an unlimited liability of the Partners |
|
|
|
|
Line of Business
: |
Processing and Trading of cashew nuts, idly, vada and dosa ready mix. |
|
|
|
|
No. of Employees
: |
Approximately 57 [In Office 5 + In Factory 50 + In Branch 2] |
|
|
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Erstwhile established as a proprietorship concern in the year 2009 and
further it got converted into partnership firm on 6th May, 2015.
It is established firm having a satisfactory track record. Mr. S.V. Ramesh Kumar, Finance Manager of the firm has provided the
information to us. Rating takes into consideration on well-established track record of
firm operating activities and experience of the partner. As per the provisional financials for the year 2015, the firm has
sales turnover of Rs.38.702 Million and net profit of Rs.0.855 Million. The
provisional financials are provided for your mere reference and it is not
been verified. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. In view of aforesaid, concern can be considered for business dealings at
usual trade terms and conditions. Note: Subject was established on 2009 as proprietorship concern later on 6th
May 2015 it was reconstituted as a partnership firm. |
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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. S.V. Ramesh Kumar |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-7032814388 |
|
Date : |
08.10.2015 |
LOCATIONS
|
Registered Office : |
H.No.1-10-88, JJ Nagar Colony, Lane 6, Temple Alwal, Secunderabad –
500062, Telangana, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-7032814388 (Mr. S.V. Ramesh Kumar) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Area : |
6000 sq. ft. |
|
Location : |
Leased |
|
|
|
|
Factory : |
U V Maraka, Sakhinatepalli Mandal; East Godavari
District, Andhra Pradesh, India |
|
E-Mail : |
|
|
Area : |
27000 sq. ft. |
|
Location : |
Leased |
|
|
|
|
Branch Office : |
D No.1-111, 1-110, Mori-Podu,
Sakhinetipalli Mandal, East Godavari District – 533250, Andhra
Pradesh, India |
|
E-Mail : |
|
|
Area : |
12000 sq. ft. |
|
Location : |
Owned |
PARTNERS
|
Name : |
Mr. Akula Venkata Satya Prasad |
|
Designation : |
Partner |
|
Address : |
D No.1-110 and 1-111, Mori Podu, Sakhinetipalli Mandal,
East Godavari District, Andhra Pradesh, India |
|
Date of Birth/Age : |
22.08.1972 |
|
Qualification : |
ICWA AI |
|
Experience : |
23 Years |
|
Voter ID No.: |
UTS0381228 |
|
|
|
|
Name : |
Mr. Manne Srinivas |
|
Designation : |
Partner |
|
Address : |
H. No.3-5-1119/13B, Shamshir Bagh, Kachiguda, Hyderabad, Telangana, India |
|
Date of Birth/Age : |
08.09.1969 |
|
Qualification : |
B.Com |
|
Experience : |
15 Years |
KEY EXECUTIVES
|
Name : |
Mr. S.V. Ramesh Kumar |
|
Designation : |
Finance Manager |
BUSINESS DETAILS
|
Line of Business : |
Processing and Trading of cashew nuts, idly, vada and dosa ready mix. |
|
|
|
|
Products : |
Cashew Nuts, Idly, Vada and Dosa Ready Mix |
|
|
|
|
Brand Names : |
WHITE GOLD |
|
|
|
|
Agencies Held : |
Not Available |
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|
|
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Exports : |
Not Available |
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|
|
|
Imports : |
Not Available |
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|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (60 days) |
|
|
|
|
Purchasing : |
Cash and Credit (60 days) |
PRODUCTION STATUS:
|
Particulars |
Installed
capacity |
Actual
Production |
|
Raw Cashew Processing |
Per day 10 tons |
Per day 8 tons |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers
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No. of Employees : |
Approximately 57 [In Office 5 + In Factory 50 + In Branch 2] |
||||||||||||||||||||||||||||||||||||||
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Bankers : |
|
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Auditors : |
|
|
Name 1 : |
NMD and Associates Chartered Accountants |
|
Address : |
H. No.B-41/A, First Floor, Madhura Nagar, Hyderabad, Andhra
Pradesh, India |
|
Tel. No.: |
91-40-40276700 |
|
Mobile No.: |
91-8885556700 |
|
E-Mail : |
|
|
|
|
|
Name 2: |
D R T A and Associates Chartered Accountants |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
|
Capital Investment : |
31.03.2015 (Provisional)
|
|
|
(Rs.
in million) |
|
Owned : |
Rs.3.000 Million |
|
Borrowed : |
-- |
|
Total : |
Rs.3.000
Million |
|
Particulars |
31.03.2014 |
|
(Rs.
in million) |
|
|
Capital Account |
3.879 |
|
Interest on SB Account |
0.009 |
|
Profit from Profit and Loss Account |
0.517 |
|
Less : Drawings |
(0.076) |
|
Total |
4.329 |
FINANCIAL DATA
[all figures are in
Rupees Million]
ABRIDGED
BALANCE SHEET
PROPRIETORSHIP
FIRM
|
SOURCES OF FUNDS |
|
31.03.2015 (Provisional) |
31.03.2014 |
|
|
|
|
|
|
|
|
1] Capital Account |
|
3.000 |
4.329 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
1.762 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
4.762 |
4.329 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL
BORROWING |
|
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
4.762 |
4.329 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
2.469 |
0.477 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
1.198 |
1.181 |
|
|
Sundry Debtors |
|
1.735 |
1.234 |
|
|
Cash & Bank Balances |
|
0.104 |
0.052 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans, Advances and Deposits |
|
1.941 |
1.475 |
|
Total Current Assets |
|
4.978 |
3.942 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
2.583 |
0.045 |
|
|
Other Current Liabilities |
|
0.032 |
0.020 |
|
|
Provisions |
|
0.070 |
0.025 |
|
Total Current Liabilities |
|
2.685 |
0.090 |
|
|
Net Current
Assets |
|
2.293 |
3.852 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
4.762 |
4.329 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 (Provisional) |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
38.216 |
15.346 |
|
|
|
Other Income |
0.486 |
0.181 |
|
|
|
TOTAL |
38.702 |
15.527 |
10.690 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Goods Sold |
33.108 |
|
|
|
|
Packing materials |
1.692 |
0.722 |
|
|
|
Transportation charge |
0.554 |
0.141 |
|
|
|
Salaries and wages |
1.253 |
0.729 |
|
|
|
Telephone charges |
0.040 |
0.028 |
|
|
|
Power and fuel |
0.016 |
0.000 |
|
|
|
Repairs and maintenance |
0.009 |
0.006 |
|
|
|
Conveyance charges |
0.035 |
0.026 |
|
|
|
Vehicle maintenance |
0.076 |
0.000 |
|
|
|
Rent |
0.360 |
0.000 |
|
|
|
Office maintenance |
0.024 |
0.010 |
|
|
|
Mis. Expenses |
0.000 |
0.016 |
|
|
|
Printing and stationery |
0.000 |
0.019 |
|
|
|
Staff welfare |
0.069 |
0.034 |
|
|
|
Travelling expenses |
0.077 |
0.064 |
|
|
|
Bank charges |
0.008 |
0.003 |
NA |
|
|
Accounting charges |
0.024 |
0.018 |
|
|
|
Audit fees |
0.010 |
0.000 |
|
|
|
Electricity charges |
0.000 |
0.010 |
|
|
|
Professional fees |
0.000 |
0.010 |
|
|
|
TOTAL |
37.355 |
14.896 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
1.347 |
0.631 |
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.422 |
0.088 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
0.925 |
0.543 |
|
|
|
|
|
|
|
|
Less |
TAX |
0.070 |
0.026 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
0.855 |
0.517 |
0.410 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 (Provisional) |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Total Income) |
(%) |
2.21 |
3.33 |
3.84 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
3.52 |
4.11 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.42 |
12.29 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19 |
0.13 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
NA |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.85 |
43.80 |
NA |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 (Provisional) |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Capital Account |
4.329 |
3.000 |
|
Reserves & Surplus |
0.000 |
1.762 |
|
Net worth |
4.329 |
4.762 |
|
|
|
|
|
Secured Loans |
0.000 |
0.000 |
|
Unsecured Loans |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 (Provisional) |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total
Income |
10.690 |
15.527 |
38.702 |
|
|
|
45.248 |
149.256 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 (Provisional) |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total
Income |
10.690 |
15.527 |
38.702 |
|
Profit |
0.410 |
0.517 |
0.855 |
|
|
3.84% |
3.33% |
2.21% |
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 |
Yes |
|
5 |
Buyer visit details |
Yes |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
Yes |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
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 |
No |
|
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 |
No |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
--- |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
FIXED ASSETS:
· Plant and Machinery
· Furniture
· Vehicles
· Computers
· Office Equipment
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.64.78 |
|
|
1 |
Rs.99.54 |
|
Euro |
1 |
Rs.73.08 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
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 |
|
45 |
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.