MIRA INFORM REPORT
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Report No. : |
341531 |
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Report Date : |
18.09.2015 |
IDENTIFICATION DETAILS
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Name : |
SHRI LAL MAHAL LIMITED |
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Formerly Known
As : |
LAL MAHAL LIMITED (w.e.f.23.01.2008) SHIVNATH RAI HARWARAIN (INDIA) LIMITED |
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Registered
Office : |
B – 16, Bhagwan Dass Nagar, New Delhi – 110026 |
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Tel. No.: |
91-11-42787700 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
12.05.1997 |
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Com. Reg. No.: |
55-087205 |
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Capital
Investment / Paid-up Capital : |
Rs. 359.895 Million |
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CIN No.: [Company Identification
No.] |
U74999DL1997PLC087205 |
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IEC No.: |
0590007581 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELS20954D |
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PAN No.: [Permanent Account No.] |
AAECS5326C |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Processor and Exporter of Agro Products like Indian Rice
(both Basmati and Non Basmati), Wheat, Wheat Grain, Salt, Corn/Yellow Maize,
Sorghum, Millet, Pulses, Soyabean, Seasame Seeds, Sugar, Tea, Herbs, Spices,
Soyabean Meal, etc. |
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No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (52) |
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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 10062000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1997 and it is engaged in the business
of processing and selling basmati and non-basmati rice. With respect to the operational performance for the year 2014, company
has reported growth of 10.65% on total revenue of Rs. 27624.905 Million
against previous revenue of Rs. 24964.233 Million and it has maintained
satisfactory profit margins at 1.37%. Ratings reflect established marked position and efficiently managed
growth in overseas and domestic market supported by decent brand name in
basmati rice segment along with proven track record of business operations. Moreover, rating also reflects extensive industry experience of
promoters and their regular funding support to the company. However, rating strengths are partially offset by susceptibility of
profitability to volatility in forex rates and intensifying competition in
basmati rice segment. In view of aforesaid, the company can be considered good for normal
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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 = BBB+ |
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Rating Explanation |
Moderate degree of safety and moderate credit risk |
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Date |
29.08.2014 |
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Rating Agency Name |
CRISIL |
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Rating |
Short term rating = A2 |
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Rating Explanation |
Strong degree of safety and low credit risk |
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Date |
29.08.2014 |
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
31-03-2015.
INFORMATION PARTED BY (GENERAL DETAILS)
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Name : |
Ms. Pooja |
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Designation : |
Accountant |
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Contact No.: |
91-11-42787702 |
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Date : |
16.09.2015 |
LOCATIONS
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Registered Office : |
B – 16, Bhagwan Dass Nagar, New Delhi – 110026, India |
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Tel. No.: |
91-11-42787700 (30 Line) |
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Fax No.: |
91-11-28316354/ 28315963 |
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E-Mail : |
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Website : |
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Location: |
Owned |
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Locality: |
Residential |
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Corporate Office/ Factory 1 : |
Shri Lal Mahal House, B-6, Bhagwan Dass Nagar, Punjabi Bagh, New Delhi
– 110026, India |
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Tel. No. : |
91-11-42787700 (30 Line) |
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Fax No. : |
91-11-28316354/ 28315963 |
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Factory 2 : |
B-5, Bhagwan Dass Nagar, Punjabi Bagh (E),
Main Rohtak Road, New Delhi - 110026, India |
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Tel. No. : |
91-11-42787700 |
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Fax No. : |
91-11-28316354/ 28315963 |
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E-Mail : |
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Factory 3 : |
Pot
No. 300, H.S.I.I.D.C, E.P.I.P, Kundli, Sonepat – 131028, Haryana, India |
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Factory 4 : |
18/20 School Road Singhu Village, Delhi – 110040, India |
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Branch Offices : |
Located at: · Kutch · Sonepat · Kakinada · Hyderabad · Noida · New Delhi |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Harnarain
Aggarwal |
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Designation : |
Director
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Address : |
A-8,
Bhagwan Dass Nagar, New Delhi-110026, India |
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Qualification : |
Matriculate |
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Date of Birth/Age : |
05.05.1940 |
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Date of Appointment : |
12.05.1997 |
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DIN No.: |
00335481 |
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Other Directorship :
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Name : |
Mrs.
Anita Garg |
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Designation : |
Managing
Director |
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Address : |
A-8,
Bhagwan Dass Nagar, New Delhi 26, India |
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Date of Birth/Age : |
16.07.1964 |
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Qualification : |
Graduation |
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Date of Appointment : |
01.07.2014 |
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DIN No.: |
00335662 |
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Other Directorship :
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Name : |
Mr.
Sushil Kumar Valecha |
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Designation : |
Director |
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Address : |
G-18,
Ashok Vihar, Phase-1, New Delhi, India |
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Date of Birth/Age : |
05.02.1949 |
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Qualification : |
MSC,
LLB, CAIIB |
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Date of Appointment : |
02.08.2005 |
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DIN No.: |
01159350 |
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Other Directorship :
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Name : |
Mr.
Devasish Garg |
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Designation : |
Whole-time
director |
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Address : |
A-8,
Bhagwan, Dass Nagar, New Delhi, India |
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Date of Birth/Age : |
27.06.1994 |
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Date of Appointment : |
01.12.2014 |
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DIN No.: |
06818624 |
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Other Directorship :
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KEY EXECUTIVES
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Name : |
Mr.
Ganesh Gulati |
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Designation : |
Secretary |
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Address : |
F-17,
Shubh Enclave, Pitampura, New Delhi-110034, India |
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Date of Birth/Age : |
17.05.1968 |
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Date of Appointment : |
10.08.2005 |
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PAN No.: |
AANPG0872H |
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Name : |
Ms. Pooja |
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Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Prem
Chand Garg |
4733900 |
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Anita
Garg |
4933500 |
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Harnarain
Aggarwal |
2152200 |
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Ram
Kumar Gupta |
1000 |
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Ravinder
Gupta |
1000 |
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Brij
Mohan Gupta |
1000 |
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Prem
Chand Garg (HUF) |
7947100 |
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Shivnath
Rai Harnarayan Private Limited, India |
1200000 |
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Ram
Avtar Aggarwal |
2025000 |
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K.
Sera Sera Productions Limited, India |
1000000 |
|
BLS
Infotech Limited (Formerly Known As Brels Infotech Limited, India |
6050000 |
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Computer
Point Limited, India |
2950000 |
|
Ferndale
Limited, London UK |
2994840 |
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CIF
Investment Holdings Limited, Mauritius |
165157 |
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Total |
36154697 |
AS ON 30.09.2014
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Equity Share Breakup |
Percentage of Holding |
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Category |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
8.74 |
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Bodies
corporate |
30.98 |
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Directors
or relatives of directors |
54.67 |
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Other
top fifty shareholders |
5.61 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Processor and Exporter of Agro Products like Indian Rice
(both Basmati and Non Basmati), Wheat, Wheat Grain, Salt, Corn/Yellow Maize,
Sorghum, Millet, Pulses, Soyabean, Seasame Seeds, Sugar, Tea, Herbs, Spices,
Soyabean Meal, etc. |
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Products : |
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Brand Names : |
“Shri Lal Mahal” |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Agro Products |
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Countries : |
· Middle East · Africa · European Countries · USA |
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Imports : |
-- |
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Terms : |
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Selling : |
Cash and Cheque |
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Purchasing : |
Cash and Cheque |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Retailers and End Users
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No. of Employees : |
250 (Approximately) |
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Bankers : |
· State Bank of India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S
C Verma and Associates Chartered Accountants |
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Address : |
A-3,183,
1st Floor, Paschim Vihar, New Delhi-110063, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAJFS7555H |
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Memberships : |
-- |
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Collaborators : |
-- |
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Related Parties : |
·
Panda Travel Private Limited [CIN
No.U63040PL2006PLC144735] ·
Shrilal Mahal Overseas Limited [CIN
No. U74899DL1994PLC061999] · Shri Lal Mahal Overseas Limited. · Kannu Aditya (I) Limited · Kannu Infotech Private Limited · Polaris Overseas Private Limited · Rithala Footwear Private Limited · Shri Lal Mahal Agro Products Private Limited · Gulmarg Ice Factory and Cold Storage |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
56,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 560.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
36,154,697 |
Equity Shares |
Rs.10/- each |
Rs. 361.547 Million |
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AS ON 31.03.2014
Authorised Capital
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
56,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 560.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
35,989,540 |
Equity Shares |
Rs.10/- each |
Rs. 359.895 Million |
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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 |
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(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
359.895 |
339.859 |
339.859 |
|
(b) Reserves & Surplus |
3161.853 |
2354.154 |
1979.385 |
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(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
3521.748 |
2694.013 |
2319.244 |
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(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
366.876 |
774.564 |
956.336 |
|
(b) Deferred tax liabilities (Net) |
200.323 |
205.869 |
223.777 |
|
(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) |
567.199 |
980.433 |
1180.113 |
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|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
7173.357 |
6296.019 |
5900.506 |
|
(b) Trade
payables |
1297.796 |
1487.459 |
1288.792 |
|
(c) Other
current liabilities |
428.213 |
420.767 |
527.431 |
|
(d) Short-term provisions |
5.625 |
4.075 |
47.637 |
|
Total Current
Liabilities (4) |
8904.991 |
8208.320 |
7764.366 |
|
|
|
|
|
|
TOTAL |
12993.938 |
11882.766 |
11263.723 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1682.695 |
1662.303 |
1706.454 |
|
(ii)
Intangible Assets |
0.651 |
0.033 |
0.154 |
|
(iii)
Capital work-in-progress |
14.686 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
115.134 |
235.634 |
225.634 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
147.584 |
2.116 |
2.118 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1960.750 |
1900.086 |
1934.360 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
10177.656 |
9362.667 |
7566.694 |
|
(c) Trade
receivables |
417.564 |
196.291 |
1307.415 |
|
(d) Cash
and cash equivalents |
184.945 |
228.281 |
233.708 |
|
(e)
Short-term loans and advances |
253.023 |
195.441 |
221.546 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
11033.188 |
9982.680 |
9329.363 |
|
|
|
|
|
|
TOTAL |
12993.938 |
11882.766 |
11263.723 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
27506.184 |
24528.171 |
19761.603 |
|
|
|
Other Income |
118.721 |
436.062 |
68.410 |
|
|
|
TOTAL |
27624.905 |
24964.233 |
19830.013 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
0.000 |
0.000 |
0.000 |
|
|
|
Purchases of Stock-in-Trade |
24078.966 |
23740.427 |
19321.173 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(814.989) |
(1795.974) |
(1749.503) |
|
|
|
Employees benefits expense |
38.051 |
31.128 |
23.569 |
|
|
|
Other expenses |
2958.924 |
1,680.101 |
1237.165 |
|
|
|
TOTAL |
26260.952 |
23655.682 |
18832.404 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
1363.953 |
1308.551 |
997.609 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
760.964 |
746.270 |
689.383 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
602.989 |
562.281 |
308.226 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
65.887 |
53.158 |
52.174 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
537.102 |
509.123 |
256.052 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
160.195 |
134.353 |
169.961 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
376.907 |
374.770 |
86.091 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
16494.215 |
14146.488 |
11191.016 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
8823.381 |
5282.265 |
5457.886 |
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
10.47 |
11.03 |
2.53 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
233.307 |
245.320 |
347.108 |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash Flow from (used in) Operations |
205.763 |
347.461 |
(397.949) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.37 |
1.53 |
0.44 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
4.96 |
5.33 |
5.05 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.18 |
4.37 |
2.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.19 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.21 |
2.72 |
3.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.24 |
1.22 |
1.20 |
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 |
339.859 |
339.859 |
359.895 |
|
Reserves & Surplus |
1979.385 |
2354.154 |
3161.853 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2319.244 |
2694.013 |
3521.748 |
|
|
|
|
|
|
Long-term borrowings |
956.336 |
774.564 |
366.876 |
|
Short term borrowings |
5900.506 |
6296.019 |
7173.357 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
347.108 |
245.320 |
233.307 |
|
Total
borrowings |
7203.950 |
7315.903 |
7773.540 |
|
Debt/Equity
ratio |
3.106 |
2.716 |
2.207 |
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 |
19761.603 |
24528.171 |
27506.184 |
|
|
|
24.120 |
12.141 |
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 |
19761.603 |
24528.171 |
27506.184 |
|
Profit |
86.091 |
374.770 |
376.907 |
|
|
0.44% |
1.53% |
1.37% |
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 |
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 |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
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 |
Yes |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10472174 |
28/12/2013 |
50,000,000.00 |
BANK OF
BARODA |
CORPORATE
FINANCIAL SERVICES BRANCH, BANK OF BARODA BUILDING,16, PARLIAMENT STREET, NEW
DELHI - 110001, INDIA |
B94248713 |
|
2 |
10278287 |
05/07/2011
* |
258,800,000.00 |
STATE
BANK OF TRAVANCORE |
COMMERCIAL
BRANCH, KASTURBA GANDHI MARG, NEW DELHI - 110001, INDIA |
B17604414 |
|
3 |
80021258 |
25/08/2008
* |
160,000,000.00 |
STATE
BANK OF INDORE |
COMMERCIAL
BRANCH, M-47, CONNAUGHT CIRCUS, NEW DELHI - 110001, INDIA |
A45051489 |
|
4 |
80002144 |
08/04/2014
* |
11,693,800,000.00 |
4101-4157 |
4101-4157,
NAYA BAZAR, DELHI - 110006, INDIA |
C03346400 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans Repayable on Demand from Others |
245.105 |
238.661 |
|
|
|
|
|
Total |
245.105 |
238.661 |
RESULT FROM
OPERATIONS:
The Company has achieved a profit of Rs. 376.907 Million in this year as
compared to Rs. 374.769 Million in the previous year. Out of sales turnover of
Rs. 276246.906 Million exports account for Rs. 17011.473 Million and domestic sales Rs. 10494.711 Million As
compared to previous year the exports have augmented from Rs. 14554.072 Million
to Rs.17011.473 Million primarily on account of lifting of ban on export of
non-basmati rice.
EXPORT OF AGRO
PRODUCTS:
RICE SCENERIO
India produced 99.18 Mn MT of rice in 2008-09, which has been the highest
production so far. But, drought of 2009-10 in the country brought down
production of rice to 89.09 Mn MT. Continuous drought for the second year in
the eastern India affected rice production in 2010-11 as well. However,
production in the country is still higher than the consumption. For the year
2011-12 season, Indian production was 104.34 MT. World production of rice in
the year 2011-12 is estimated to be 472 Mn MT and consumption at 450 Mn MT in
2011-12. Global demand supply position of rice seems to be stable for the year.
India is the lead exporter of Basmati Rice to the overseas market. High
demand from Iran, after the settlement of the payment mechanism with India
following sanctions, and a sharp depreciation in the rupee led to the rise in export
realizations. Basmati exports are strong. Iran has started buying from India,
which led to higher exports. The country has exported 3.5 Mn tons of Basmati
Rice to the world market for the worth of Rs.193905.300 Million during the year
2012-13 mainly to Iran (Rs.64635.00 Million), Saudi Arabia (Rs.36567.300
Million), UAE (Rs.13084.00 Million), Iraq (Rs.10766.700 Million) and Kuwait
(Rs.1059.28Cr).
During the same period India exported Non-basmati
Rice around 6.9 Mn
tons valued Rs. 144216.400 Million
Mainly Nigeria (Rs.18474.300 Million), Senegal (Rs.14634.300 Million),
Benin (Rs.13024.500 Million), Cote Divoire (Rs.11758.900 Million).
India’s Kharif season rice crop planting area has increased to about 3.9
million hectares as of June 28, 2014, up about 32% from 2.97 million hectares
in this time last year. India?s Kharif rice crop production is expected to
increase to a record 95 million tons in 2014-14, up about 2.4% from around
92.75 in 2012-13 due to the timely arrival of monsoon rains this year. The
secondary rice (rabi) crop in India usually contributes around 12-13 million
tons of rice.
In addition, India already has about 33.3 million tons of rice in the
central pool as of June 1, 2013, which is up about 3.6% from around 32.1
million tons recorded at the same time of the year in 2012. Current rice stocks
are close to 2.3 times the buffer and strategic norms of around 14.2 Mn tons.
With high stocks and expectations of another bumper crop, it appears very
unlikely the government will ban rice exports anytime soon.
OTHER AGRO PRODUCTS:
PULSES
Pulses are one of the important food crops globally due to higher
protein content. Pulses are an important group of crops in India, which is also
responsible for yielding large financial gains by amounting for a large part of
the exports. Pulses are the major sources of protein in the diet. Of all
categories of people pulses form an integral part of the Indian diet, providing
much needed protein to the carbohydrate rich diet. India is the largest producer
of pulses in the world. Pulses are 20 to 25 per cent protein by weight which is
double the protein content of wheat and three times that of rice. Major pulses
grown are - Chickpeas (gram), Pigeon pea (tur or arhar), Moong beans, Urd
(black matpe), Masur (lentil), Peas and various kinds of beans. The main
cultivating states are Madhya Pradesh, Uttar Pradesh, Rajasthan and
Maharashtra.
The country has exported 202.72 thousand MT of pulses to the world for
the worth of Rs. 12849.400 Million during the year 2012-13 to Pakistan,
Algeria, Turkey, Sri Lanka and United Arab Emirates.
SUGAR
Sugar industry is the second-largest agro based industry after textile,
employing 0.5 million people in the sugar mills and 50 million farmers engaged in
sugarcane cultivation. India is the largest consumer and the second largest
producer of sugar across the globe. Sugar industry is largely driven by
domestic consumption. The production of sugar is spread across the country.
Maharashtra, Uttar Pradesh, Karnataka, Tamil Nadu, Gujarat and Andhra Pradesh
are the major sugar producing states in the country. These six states together
accounted for more than 90% of the total sugar produced in India. The State of
Maharashtra produces the highest sugar followed by UP. These two states
together account for more than 60% of the total sugar produced in India.
Sugarcane is the primary raw material for the sugar industry. It accounts for
almost 80-85% of the total operating cost of the sugar industry.
Sugar production is now estimated to be 237 lakh tonne compared to
earlier expectations of 250 lakh tonne.
Due to the estimated surplus production there is a demand like
increasing the import duty to completely stop inward shipments and creation of
a buffer stock or interest free loans to clear the huge arrears on cane
payment. They want the government to help because Indian sugar has become
uncompetitive for exports due to a higher cane price fixed by the government
Meanwhile, the government recently raised the import duty on sugar from
10% to 15%. Sugar mills have been facing huge losses due to mounting cane
arrears and a decrease in sugar prices post-decontrol.
MAIZE
India’s maize exports rose 24% to 4.78 million tonne in the 2012-13
fiscal as domestic supply remained adequate and traders adopted sound packaging
practices to meet global standards. The country had exported 3.85 million tonne
of maize (corn) in the previous fiscal. There has been a substantial increase
in maize exports. Production was higher and exporters took measures to improve
packaging practices to meet global standards of shipment.
SOYAMEAL EXPORTS
Indian Soybean Market: Soybean meal comprises of the residue after the
soybean oil extraction. It has high protein content and is easily digestible
and that is why it serves an exceedingly good fertilizer and as an animal feed.
It accounts for about 65% of the world’s total feed. Global soyabean production
is estimated at 271.4 and Oilseed production is estimated at 471.5 Mn Ton in
2012-13. Madhya Pradesh, Maharashtra. Andhra Pradesh, Rajasthan, Karnataka are
the major Soya oil seed producing states with Madhya Pradesh being the leading
producing state. During 2012-13 India exported 4.85 MT oil meal extraction
worth Rs. 79584.900 Millions
Soybean holds a very important position in the Indian agriculture and
economy and it has a worth of over Rs 8000 crores. It stands at the fifth
position in the list of the leading soybean producing countries with a
production figure of around 10 million tons. Madhya Pradesh has the lead among
the soybean producing states in India. Regarding consumption of soybean in
India, it holds the sixth position in the leading consuming countries.
Crop Arrival: Market sees the arrival of the soybean crop in August,
September in US and China, in October-November in India and in January-February
in South America.
Crop Prospects: The States that produce Soyameal are Madhya Pradesh,
Maharashtra, Rajasthan, Karnataka, Uttar Pradesh, Andhra Pradesh, Nagaland and
Gujrat. The annual production in soyabean in India is around 10 million tons.
Madhya Pradesh being the leading producing state of India contributes to around
75% of the total Indian production and is also called the soybean bowl in India
Producers of Soyameal: United States, China, Brazil, Argentina and
India.
Countries producing and Exporting Soyabean Meal: The leading soybean
meal producing country is US in the 1 st place and China and Brazil in the 2 nd
& 3 rd place respectively. The leading soy meal exporting countries are: -
Argentina (20 million tons), Brazil (15 million tons), USA (6 million tons),
India (5 million tons), and European Union (2 million tons)
Countries Importing Soyabean Meal: The global trade of soybean meal is about
50 million tons. The major importers of soybean meal are: - European Union,
Central Europe, Thailand, South Korea, Indonesia, Japan, Philippines and
Canada.
Export Potential for Soyameal: Exports of Soya meal have 100% Potential.
For about 75% of production of soyameal, there is a ready market available in
countries like Indonesia, China, Japan, Korea, and to a lesser extent some
European nations. The Indian Soyameal is primarily exported to South Korea,
Thailand, Philippines and Japan.
FIXED ASSETS:
·
Computer software
·
Office equipment’s
·
Computer equipment’s
·
Vehicles
·
Furniture and fixtures
·
Land
·
Buildings
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.66.50 |
|
|
1 |
Rs.101.99 |
|
Euro |
1 |
Rs.75.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
52 |
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.