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MIRA INFORM REPORT
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Report No. : |
488094.2 |
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Report Date : |
06.02.2018 |
IDENTIFICATION DETAILS
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Name : |
RITIKA FARMS |
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Registered
Office : |
VPO-Chhajapur Kalan, Tehsil-Bapoli, District Panipat - 132103, Haryana
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Mobile No.: |
91-9215000012 [Mr. Partap Singh] |
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Country : |
India |
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Financials (as
on) : |
31.12.2017 [Provisional] |
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Year of
Establishment : |
2012 |
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Capital
Investment : |
INR 44.696 Million |
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IEC No.: |
Not Applicable [As informed by the management that firm does
not have export and import] |
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TIN No.: |
Not Divulged |
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GST No.: |
Not Applicable |
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PAN No.: [Permanent Account No.] |
AHDPM3457D |
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Legal Form : |
Sole Proprietary Concern |
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Line of Business
: |
Subject is a Poultry Farm and Trading of Eggs. [Confirmed by
Management] |
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No. of Employees
: |
46 [Approximately] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a proprietorship concern established in the year 2012 and it is a poultry farms and trader of eggs. As per financials of March 2017, the subject as registered a growth of 8.16% in its sales turnover as compared to its previous year’s sales turnover and has reported minimal profit margin of 0.53%. Rating takes into consideration the subject’s sound capital base along with average debt coverage indicators and satisfactory liquidity position. Further, customers (Nagpal Egg Store and S D Egg Store) gave positive response and they are satisfied with subject’s product quality and delivery behaviour. Supplier (M/S Pargati Foods and Om Trading Co) also gave positive response about the subject and they are satisfied with subject’s payment behaviour and market goodwill. Payments seem to be usually correct. In view of aforesaid, the subject can be considered for business dealings at usual trade terms and conditions. NOTE: Site visit was conducted at the given address which you have provided. Our executive has successfully traced the subject at the given address. At the premises, our executive met Mr. Partap Singh (Proprietor) has provided information and he provided his contact details (09215000012). As per our executive’s observation, it is a shed type premises and area of the premises is 3 acre. Location is difficult to find and locality seems to be agricultural area. Area seems to be down-market and 20 employees were sighted at the premises. Landmark- Government School (Narvodaya Public School) Name board of the subject was not sighted at the given address. |
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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 06.02.2018.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION PARTED BY
|
Name : |
Mr. Shekhar |
|
Designation : |
Accountant |
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Contact No.: |
91-7027400012 |
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Date : |
31.01.2018 |
LOCATIONS
|
Registered Office/ Factory : |
VPO-Chhajapur Kalan, Tehsil-Bapoli, District Panipat - 132103,
Haryana, India |
|
Tel. No.: |
91-180-4020125 |
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Mobile No.: |
91-9215000012 [Mr. Partap Singh] 91-7027400012 [Mr. Shekhar] |
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Fax No.: |
Not Available |
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E-Mail : |
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Area: |
3 Acre |
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Location : |
Owned |
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Locality: |
Agricultural Area |
SOLE PROPRIETOR
|
Name : |
Mr. Partap Singh |
|
Designation : |
Proprietor |
|
Address: |
VPO Risalu, Panipat - 132103, Haryana, India |
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Date of Birth/ Age: |
09.09.1976 |
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Qualification: |
B.A |
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Experience: |
7 Years |
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PAN No.: |
AHDPM3457D |
|
Aadhar No.: |
3908 6367 7270 |
KEY EXECUTIVES
|
Name : |
Mr. Shekhar |
|
Designation : |
Accountant |
BUSINESS DETAILS
|
Line of Business : |
Subject is a Poultry Farm and Trading of Eggs. [Confirmed by Management]
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Products : |
Eggs |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers
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No. of Employees : |
46 [Approximately] |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
ANG and Company Chartered Accountants |
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Address : |
House No. 78-L, Model Town, Near Gurudwara, Above Panipat Urban Co. Op.
Bank, Panipat, Haryana, India |
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|
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.12.2017 [PROVISIONAL]
|
Name of the proprietors |
Opening Balance |
Addition During the year |
Drawing during the year |
Profit/(Los) |
Balance as on 31.12.2017 |
|
Mr. Pratap Singh |
43.361 |
0.650 |
0.165 |
0.850 |
44.696 |
|
|
|
|
|
|
|
|
Total |
43.361 |
0.650 |
0.165 |
0.850 |
44.696 |
AS ON 31.03.2017
|
Particulars |
INR
in Million |
Particulars |
INR
in Million |
|
To Withdrawals |
0.349 |
By Opening Balance b/f |
41.721 |
|
To LIC |
0.099 |
By Agriculture Income |
0.586 |
|
|
|
By Net Profit |
1.502 |
|
To Balance c/f |
43.361 |
|
|
|
|
|
|
|
|
Total : |
43.809 |
Total : |
43.809 |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.12.2017 [Provisional] [9
Months] |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
|
1] Capital Account |
44.696 |
43.361 |
41.721 |
41.051 |
|
|
2] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
44.696 |
43.361 |
41.721 |
41.051 |
|
|
LOAN FUNDS |
|
|
|
|
|
|
1] Secured Loans |
100.033 |
100.837 |
89.587 |
57.107 |
|
|
2] Unsecured Loans |
5.633 |
5.633 |
1.240 |
0.000 |
|
|
TOTAL BORROWING |
105.666 |
106.470 |
90.827 |
57.107 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL |
150.362 |
149.831 |
132.548 |
98.158 |
|
|
|
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|
|
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APPLICATION OF
FUNDS |
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
79.834 |
87.719 |
98.278 |
68.503 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
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|
Inventories |
49.773
|
46.838
|
36.548
|
29.303
|
|
|
Sundry Debtors |
17.255
|
18.018
|
1.812
|
0.350
|
|
|
Cash & Bank Balances |
0.383
|
0.122
|
0.026
|
1.931
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
7.689
|
1.742
|
0.651
|
0.000
|
|
Total
Current Assets |
75.100
|
66.720
|
39.037
|
31.584
|
|
|
Less :
CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
|
Sundry Creditors |
4.566
|
4.596
|
4.767
|
1.615
|
|
|
Other Current Liabilities |
0.000
|
0.000
|
0.000
|
0.000
|
|
|
Provisions |
0.006
|
0.012
|
0.000
|
0.314
|
|
Total
Current Liabilities |
4.572
|
4.608
|
4.767
|
1.929
|
|
|
Net Current Assets |
70.528
|
62.112
|
34.270
|
29.655
|
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL |
150.359 |
149.831 |
132.548 |
98.158 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2017 [Provisional] [9
Months] |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
Sales |
225.146 |
283.017 |
261.666 |
80.950 |
|
|
|
Other Income |
0.000 |
0.002 |
0.002 |
0.000 |
|
|
|
TOTAL |
225.146 |
283.019 |
261.668 |
80.950 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
Cost of Goods Sold |
189.465 |
248.597 |
230.368 |
59.694 |
|
|
|
Freight and cartage inward |
0.496 |
0.581 |
0.547 |
0.473 |
|
|
|
Packing material |
1.341 |
1.661 |
0.668 |
0.000 |
|
|
|
Wages and labour |
1.724 |
2.154 |
1.925 |
1.018 |
|
|
|
Power and fuel exp. |
4.025 |
5.239 |
4.066 |
3.215 |
|
|
|
Accountancy charges |
0.108 |
0.120 |
0.096 |
0.036 |
|
|
|
Audit fees |
0.000 |
0.012 |
0.000 |
0.011 |
|
|
|
Legal |
0.006 |
0.000 |
0.000 |
0.000 |
|
|
|
Conveyance exp. |
0.056 |
0.065 |
0.057 |
0.027 |
|
|
|
Courier and postage exp. |
0.003 |
0.004 |
0.003 |
0.001 |
|
|
|
Festival exp. |
0.179 |
0.160 |
0.133 |
0.047 |
|
|
|
Freight outward |
0.422 |
0.479 |
0.039 |
0.000 |
|
|
|
General exp. |
0.175 |
0.199 |
0.165 |
0.050 |
|
|
|
Insurance charge |
0.000 |
0.679 |
0.141 |
0.025 |
|
|
|
Mobile and telephone exp. |
0.102 |
0.117 |
0.099 |
0.022 |
|
|
|
Printing and stationery exp. |
0.011 |
0.012 |
0.010 |
0.004 |
|
|
|
Repair and maint. Exp. |
0.596 |
0.637 |
0.409 |
0.089 |
|
|
|
Salary |
0.799 |
0.862 |
0.817 |
0.515 |
|
|
|
Tour and travelling exp. |
0.185 |
0.209 |
0.183 |
0.076 |
|
|
|
TOTAL |
199.693 |
261.787 |
239.726 |
65.303 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, DEPRECIATION AND
AMORTISATION |
25.453 |
21.232 |
21.942 |
15.647 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
16.717 |
7.552 |
6.628 |
8.336 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE DEPRECIATION AND AMORTISATION |
8.736 |
13.680 |
15.314 |
7.311 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
7.886 |
12.178 |
13.953 |
6.421 |
|
|
|
|
|
|
|
|
|
|
|
NET PROFIT/
(LOSS) |
0.850 |
1.502 |
1.361 |
0.890 |
|
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.12.2017 [Provisional] [9
Months] |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
27.97 |
23.24 |
2.53 |
1.58 |
|
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
13.05 |
15.71 |
144.41 |
231.29 |
|
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
8.80 |
6.75 |
7.55 |
9.87 |
|
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.51 |
0.45 |
0.60 |
0.53 |
|
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.32 |
0.24 |
0.22 |
0.23 |
LEVERAGE RATIOS
|
PARTICULARS |
31.12.2017 [Provisional] [9
Months] |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets) |
0.71 |
0.72 |
0.70 |
0.59 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
2.36 |
2.46 |
2.18 |
1.39 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.23 |
0.24 |
0.14 |
0.05 |
|
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.79 |
2.02 |
2.36 |
1.67 |
|
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.52 |
2.81 |
3.31 |
1.88 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.12.2017 [Provisional] [9
Months] |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.38 |
0.53 |
0.52 |
1.10 |
|
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.55 |
0.97 |
0.99 |
0.89 |
|
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
1.90 |
3.46 |
3.26 |
2.17 |
SOLVENCY RATIOS
|
PARTICULARS |
31.12.2017 [Provisional] [9
Months] |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
7.36 |
6.51 |
6.50 |
16.37 |
|
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
2.48 |
1.94 |
0.41 |
1.18 |
|
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.29 |
0.28 |
0.30 |
0.41 |
|
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
2.36 |
2.46 |
2.18 |
1.39 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
7.36 |
6.51 |
6.50 |
16.37 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Capital Account |
41.051 |
41.721 |
43.361 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
Net
worth |
41.051 |
41.721 |
43.361 |
|
|
|
|
|
|
Secured Loans |
57.107 |
89.587 |
100.837 |
|
Unsecured Loans |
0.000 |
1.240 |
5.633 |
|
Total
borrowings |
57.107 |
90.827 |
106.470 |
|
Debt/Equity
ratio |
1.391 |
2.177 |
2.455 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
80.950 |
261.666 |
283.017 |
|
|
|
223.244 |
8.160 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
80.950 |
261.666 |
283.017 |
|
Profit |
0.890 |
1.361 |
1.502 |
|
|
1.10% |
0.52% |
0.53% |
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 |
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 |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
Yes |
|
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 and
nine months |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years and
nine months |
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 |
------------------------------------------------------------------------------------------------------------------------------
OBSERVATION POINTS
|
Name of Company : |
RITIKA FARMS |
|
|
|
|
Address : |
VPO-Chhajapur Kalan, Tehsil-Bapoli, District Panipat - 132103,
Haryana, India |
|
Contact No.: |
91-9215000012 Email: ritikatransportco@gmail.com |
|
|
|
|
Person to whom we met: |
Mr. Partap Singh [Proprietor] |
|
|
|
|
Name Board : |
Not Sighted |
|
|
|
|
Location: |
Difficult |
|
|
|
|
Landmark (If Any): |
Government Schools [Narvodaya Public School] |
|
|
|
|
Total Floors of the Building : |
Shed Type Premises |
|
|
|
|
Subject situated on: |
Shed Type Premises |
|
|
|
|
Locality: |
Agricultural Area |
|
|
|
|
Area of Premises : |
3 Acres |
|
|
|
|
Area : |
Down-Market |
|
|
|
|
No. of employees seen at premises: |
20 (Approx.) |
|
|
|
|
Proof of visit: |
Photos |
------------------------------------------------------------------------------------------------------------------------------
UNSECURED LOANS
|
PARTICULARS |
31.12.2017 [Provisional] [9
Months] |
31.03.2017 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Ritika Transport Co. |
|
0.850 |
|
Surise Trans India |
|
1.892 |
|
Charan Singh |
|
0.412 |
|
Ishwar Singh |
|
0.025 |
|
Mehtab Malik |
|
0.706 |
|
Partap Singh Malik HUF |
|
0.050 |
|
Raj Bala |
|
0.020 |
|
Rajesh Malik HUF |
|
0.200 |
|
Ram Rati |
|
1.138 |
|
Titika Cargo |
|
0.140 |
|
Sandeep Malik |
|
0.200 |
|
|
|
|
|
Total |
5.633 |
5.633 |
------------------------------------------------------------------------------------------------------------------------------
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2018 [Estimated] |
31.03.2019 [Projected] |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Capital Account |
|
41.322 |
43.527 |
|
|
2] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
41.322 |
43.527 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
85.429 |
78.700 |
|
|
2] Unsecured Loans |
|
5.633 |
5.633 |
|
|
TOTAL BORROWING |
|
91.062 |
84.333 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000
|
0.000
|
|
|
|
|
|
|
|
|
TOTAL |
|
132.384 |
127.860 |
|
|
|
|
|
|
|
|
APPLICATION OF
FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
77.206 |
68.146 |
|
|
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 |
|
50.000
|
54.000
|
|
|
Sundry Debtors |
|
9.500
|
10.500
|
|
|
Cash & Bank Balances |
|
0.289
|
0.526
|
|
|
Other Current Assets |
|
0.000
|
0.000
|
|
|
Loans & Advances |
|
0.900
|
0.700
|
|
Total
Current Assets |
|
60.689
|
65.726
|
|
|
Less :
CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
5.500
|
6.000
|
|
|
Other Current Liabilities |
|
0.000
|
0.000
|
|
|
Provisions |
|
0.011
|
0.012
|
|
Total
Current Liabilities |
|
5.511
|
6.012
|
|
|
Net Current Assets |
|
55.178
|
59.714
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000
|
0.000
|
|
|
|
|
|
|
|
|
TOTAL |
|
132.384 |
127.860 |
|
------------------------------------------------------------------------------------------------------------------------------
PROFIT AND LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2018 [Estimated] |
31.03.2019 [Projected] |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
|
295.000 |
305.000 |
|
|
|
Other Income |
|
0.000 |
0.000 |
|
|
|
TOTAL |
|
295.000 |
305.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
250.138 |
274.300 |
|
|
|
Freight and cartage inward |
|
0.650 |
0.800 |
|
|
|
Packing material |
|
1.800 |
1.900 |
|
|
|
Wages and labour |
|
2.300 |
2.400 |
|
|
|
Power and fuel exp. |
|
5.400 |
2.600 |
|
|
|
Accountancy charges |
|
0.144 |
0.160 |
|
|
|
Legal fees |
|
0.011 |
0.012 |
|
|
|
Audit fees |
|
0.000 |
0.000 |
|
|
|
Conveyance exp. |
|
0.080 |
0.090 |
|
|
|
Courier and postage exp. |
|
0.005 |
0.005 |
|
|
|
Festival exp. |
|
0.179 |
0.200 |
|
|
|
Freight outward |
|
0.600 |
0.700 |
|
|
|
General exp. |
|
0.250 |
0.300 |
|
|
|
Insurance charge |
|
0.600 |
0.500 |
|
|
|
Mobile and telephone exp. |
|
0.149 |
0.160 |
|
|
|
Printing and stationery exp. |
|
0.015 |
0.018 |
|
|
|
Repair and maint. Exp. |
|
0.800 |
0.900 |
|
|
|
Salary |
|
1.000 |
1.100 |
|
|
|
Tour and travelling exp. |
|
0.250 |
0.260 |
|
|
|
TOTAL |
|
264.371 |
286.405 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, DEPRECIATION AND
AMORTISATION |
|
30.629 |
18.595 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
18.850 |
7.780 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE DEPRECIATION AND AMORTISATION |
|
11.779 |
10.815 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
10.513 |
9.059 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT/
(LOSS) |
|
1.266 |
1.756 |
|
------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF ASSETS AND LIABILITIES
MR. PRATAP SINGH
(INR IN MILLION)
|
Particulars |
As On 31.12.2017 |
|
A] Liquid Assets |
|
|
Cash and bank balance |
|
|
Gold and silver |
0.448 |
|
Total Liquid Assets |
0.220 |
|
|
0.668 |
|
B] Movable Assets |
|
|
Two Car |
1.463 |
|
Total Movable
Assets |
1.463 |
|
|
|
|
C] Fixed Assets |
|
|
Land situated at VPO UMRI, Thaneshar, Kurukhetra approx.) |
37.500 |
|
Building Ritika Farms |
23.000 |
|
Machinery in Ritika Farms |
56.500 |
|
Other machinery in Ritika Farms |
0.920 |
|
Total Fixed Assets |
117.920 |
|
|
|
|
D] Current Assets |
|
|
Sundry Debtors |
17.200 |
|
Other Current Assets |
8.070 |
|
Total Current
Assets |
25.270 |
|
|
------------- |
|
E} Total Assets
(A+B+C+D) |
145.321 |
|
|
|
|
F] Liabilities |
|
|
Total loan from Indian Overseas Bank |
99.000 |
|
Sundry creditors |
4.000 |
|
Total Liabilities |
103.000 |
|
|
------------- |
|
G] NET WORTH (E-F) |
42.321 |
------------------------------------------------------------------------------------------------------------------------------
COMPANY PROFILE
The company is a farm focused on egg that provides for a large market range. It also produces manure as a by-product. The founders have been creating a business to meet the increased demand for eggs. Chickens happen to be a great source of largely known for egg production. The Ritika farm start by Mr. Partap Singh as a Proprietorship firm known as Ritika Farms.
Not only are the founders interested in meeting the demands of the customer, they also plan to create utmost satisfaction for these customers. The founders also want to use this business as a means of creating employment within the community it is based in and to contribute to the economy of the country. They plan on provide products with quality and maintain this supply efficiently. This is a proprietor business that plans on distributing eggs to wholeseller and supermarkets. They also plan on doing this at very affordable prices. They will also distribute manure to farmers that are into crop production.
Poultry farm
Objectives
Ritika Farm will measure its success by its ability to achieve the following objectives:
· Becoming the "Best and most hygienic poultry producer in the area" complying by the national standards for food and drugs.
· Turn in profits from the first six months of operations.
· Maintain industries gross margin ratio.
· Winning the hearts and tastes of their beloved consumers and establishing a brand image of the company through heavy marketing campaigns in the first one year.
Ritika Farm Mission
Ritika farm mission is to provide customers with quality, fresh, and valuable products. To respect all employees and enable everyone to have a say in company affairs. Quality and service are their number one priority. To provide investors with opportunities to receive a nice return on investment and high-quality growth. To contribute to the community through physical and social programs.
Their Keys to Success
Fakabe poultry will follow these principles in order to achieve success in its market:
· State of art cage framework accommodating optimum number of chickens with lessened possible hazards.
· Diverse slaughters network, market chain management, optimum inventory level and ‘customer is king’ policy.
· Regular visits by veterinary medical workers and hygienic poultry house environment.
COMPANY OWNERSHIP
The company is owned by one persons. Mr. Partap Singh is the Owner of Ritika Farm who is liable for any business debts or claims.
INDUSTRY ANALYSIS
Poultry industry in the last 40 years has shown dramatic changes in both domestics and international environments. Those environmental forces include are classified into 2 categories: the internal forces and external forces. Internal and external forces include:
1. Poultry industry competitors: When the company have few competitors, it is more likely to get more profit.
2. Supplier dynamics: Suppliers of raw materials to the poultry companies are the ones the affect the costs of poultry products. If there is development of new market and technology, the price of raw materials will remain low.
3. Opportunities: there are many opportunities in poultry industry. The first opportunity is that there is small number of large scale poultry farmers, and the other ones are small scale business farmers. So this will make businessmen to vertically integrate in the poultry business.
4.Cultural and religious forces: As they know, the presence of taboos can be a hindrance in the development of poultry farming. However, in Nigeria, there are very few, maybe none, laws or cultures that prohibit eating poultry products. This is a good opportunity for businessmen to develop and expand their poultry farm with in the country without any challenge.
CHALLENGES FACING THE
POULTRY INDUSTRY
Poultry farming has some challenges that need to be attended to with vigor. Below are some of the common challenges that are faced by poultry farmers:
Death of chickens: In poultry, one or many chickens usually die because of their fragile nature and the weather they are living in. Some factors such as heat and overcrowding causing that death can be controllable.
Diseases: Pneumonia and other minor diseases are among problems faced by poultry farmers, but this problem can be solved by seeking a veterinary doctor.
POULTRY FARM PRODUCTS
PRODUCT DESCRIPTION
They offer eggs that will be gotten from layers their target market. We plan to take pride in the uncompromising quality of their products. They also offer fertilizer in form of chicken manure. This is mostly used in vegetable farming and as an ingredient for feed in fish farming. Ritika Farm shall produce high quality, contaminant-free chickens and the freshest eggs to satisfy the taste of their beloved costumers.;
Main products
· Eggs
By-products
· Chicken manure
-----------------------------------------------------------------------------------------------------------------------------
VALUATION
REPORT
(GENERAL DETAILS)
|
Nature of Security |
Area |
Owner |
Value |
Valuation Date and Name of approved Value |
|
|
Residual value of the agricultural land & building which is part of khewat no.140min, khatoni no.197, khasra no.42//25(7-8), 3//21 (80), 22(8-0), 23/2(5-16), 52//1 (8-0), 2(80), 3/2(50), 8/2(4-4), 9/1 (6-16), 53// 5 (7-8) and khewat no. 140 min, khatoni no.197, khasra no.61//2(7-6), 3(8-0), 7/2 (2-4), 8(80), 9(8-0), - 10/1(1-.18),61//12(3-7), 14(8-0),13 (7-6),17(4-16), 274(02), Waka Village-Chhajpur Kolan, Sub-Tehsil-Bapoli, Dist. Panipat vide sale deed no.1962 dated 27.12.2011 and deed no.1946 &1947 dated 23.12.2011. |
25K 19M 5 Sarsai 4KOMOS + 1K 17M lS |
Mr. Ramrati Devi w/o Mr. Ishwar Singh |
FMV: INR 42.440 FSV: INR 34.000 Residual Value (34.000-9.288) = INR 24.712 Million |
17.10.2016 S Sourabh & Associates |
|
|
EM of the vacant Plot No.583, Sector-25, Part-II, Industrial Worker, Residential HUDA, Panipat vide sale deed No.3670 dated 06.09:2012. |
168.93 Sq. yds |
Mrs. Suman Malik w/o Mr. Partap Malik |
FMV: INR 8.447 FSV: INR 7.200 |
17.10.2016 S. Sourabh & Associates |
|
|
3) EM of the· vacant Plot No. 691, Sector 25, part-II, Industrial Worker, residential HUDA, Panipat vide. Sale deed NO.3151 dated 13.08.2012. |
116.5 Sq yds |
Mrs. Rajbala w/o Mr. Rajesh Malik |
FMV: INR 5.359 FSV: INR 4.550 |
17.10.2016 S. Sourabh & Associates |
|
|
4) EM of the vacant plot No.1150, Sector-25, Part-II" Industrial Worker, residential HUDA, Panipat vide sale deed No.3667 dated 06.09.2012. |
119.25 Sq yds |
Mrs. Neena Malik w/o Mr. Sandeep Malik |
FMV: INR 5.486 FSV: INR 4.700 |
17.10.2016 S. Sourabh & Associates |
|
|
Property No. 2, 3 & 4 is common collateral in the associate account Ritika Transport Company for term loan limit of INR 4.339 million (last renewal on 28.03.2017) (present DP-INR 2.983 million & O/s INR 3.315 million) |
|||||
|
|
|||||
|
5) RM of land measuring 2K-15M6S being 348/4475 share of land measuring 35K-16M comprising in Khewat No. 35/32 min khatoni no.64 rect no. 22 killa no 8/2(2-0), 11 (04), 12/1(4-18), 12/2(3-0), 13/1 (4-18),13/2(3-2),17/2 (2-16), 18(8-0), 19(616) rect no 25 killa no 11/1 (0-2) situated at ViiI. Umri Teh. Thanesar, Dist. Kurukshetra |
167 Sq. yds |
Mr. Partap Malik |
FMV: INR 29.500 FSV: INR 36.900 |
07.02.2015 Er. Ved Prakash Gupta |
|
|
6) RM of agri land measuring 3.68 acre which is part of Khewat no. J44/117 min, Khatoni no. 201, Khasra no. 51/22,22,23,24,52//14,15, Khatoni no. 202, Khasra no.51/11,12 Khewat no. 145/118 Khatoni· no. 203, Khasra no. 51/13,18, Khewat no 146/119, khatoni 205, khasra 51/17, 25/1 khewat no. 148/121, khatoni 207, Khasra 52/9/2, 12,13/2; khewat 150/123, khatoni 209, khasra no. 52/16, 17 and khewat no 151/124, khatoni no 210, khasra no' 52/10,11,18/1/2,19/2/2, 20/1: 59/5,6,7/2,14 PART, Rakba village Chhajpur kalan, Tehsil Bapoli Dist. Panipat. |
3.68 acre |
Mr. Jagpal s/o Mr. Manglo |
FMV: INR 29.450 FSV: INR 24.900 Residual Value (24.900-1.800) = INR 23.100 million |
11.09.2015 ER. Ved Prakash Gupta. |
|
|
Remarks: The said property is already mortgaged with us against KCC availed by the property owner i.e. Jagpal s/o Manglo. KCC: INR 1.800 million Residual Value of the FSV of the property is taken for calculation of Collateral coverage. |
|||||
|
7) RM of agri land which is khewat no 93/81, khatoni no 97, khasra 50/11/1,20/2: 51/17/1: Khewat no 94/82, khatoni no 98, khasra no 51/12/2,13/2,14,15,16: khewat no 97/85 min, khatoni 101, khasra no 51/17/2, 18 situated at Village Machhroli Teh. Samalkha Dist. Panipat. |
2.26 acre |
Mr. Sandeep, 5/0 Sh. Jagira |
FMV INR 45.200 FSV INR 38.400 Residual value (38.400 - 2.000) = INR 36.400 |
13.06.2016 Er. Ved Prakash Gupta. |
|
|
Remarks: The said property is already mortgaged with us against KCC of INR 0.300 million and Agri Term Loan of INR 1.700 million. Residual value of the FSV of the property will be taken for calculation of collateral coverage. |
|||||
|
Total FSV considering residual value of the properties: INR 137.562 million Existing exposure: INR 93.462 million. Exposure after proposed enhancement: INR 131.365 million {INR 128.382 million + 2.983 million (TL of Ritika Transport Company)} As per latest LPD dated 17.10.2017 point 13.13.1 the collateral security cover should be minimum 100% for poultry units excluding risk mortality fund. Hence in view of the above, the collateral coverage is more than 100% for the proposed exposure. |
|||||
|
Property no. 5, 6 & 7 is valued by M/s Er. Ved Prakash Gupta, however the same is not in our present panel value list. Since the properties were valued during 2915 & 2016 and as per the list of panel valuers submitted by RO Chnadigarh the said valuer were in the panel, we may consider the same and advise the branch to obtain valuation from the panel valuer only after the expiry of the said valuations i.e. 3 years from the date of valuation. |
|||||
PERSONAL GUARANTEE:
|
Guarantors (with relationship with each other and their worth)
As mentioned by the parties. (INR in Million) |
||||
|
Name of the
Guarantors |
Age |
Address |
Worth |
As on |
|
Mr. Partap Singh Malik S/o Mr. lshwar Singh Malik - Prop. |
41 (09.09.1976) |
Village Risalu, Panipat |
93.233* |
16.10.2017 |
|
|
|
|
|
|
|
Mr. Ishwar Singh s/o Mr. Moji, - Father of Prop. |
75 (22.08.1942) |
19.400 |
|
|
|
|
|
|
|
|
|
Mr. Ram Rati Devi W/o Mr. Ishwar Singh Malik - Mother of Prop. |
77 (01.01.1940) |
22.200 |
|
|
|
|
|
|
|
|
|
Mrs. Suman Malik w/o Sh. Partap Malik |
34 (02.07.1983) |
9.350 |
|
|
|
|
|
|
|
|
|
Mr. Rajesh Malik s/o Mr. Ishwar Singh Mdlik - Brother of Prop |
43 (15.04.1974) |
0.504 |
|
|
|
|
|
|
|
|
|
Mr. Raj Bala wlo Mr. Rajesh Malik |
37 (05.04.1980) |
10.850# |
|
|
|
|
|
|
|
|
|
Mr. Sandeep Malik s/o Sh. Ishwar Singh Malik.- Brother of Prop |
33 (04.05.1984) |
0.784 |
|
|
|
|
|
|
|
|
|
Mrs. Neena Malik w/o Mr. Sandeep Malik |
30 (02.10.1987) |
8.500# |
|
|
|
|
|
|
|
|
|
Mr. Sandeep Kumar s/o Mr. Jagbir- Brother-in-law of
Prop. |
31 (04.04.1986) |
Machrauli, Panipat |
65.875 |
|
|
|
|
|
|
|
|
Mr. Jagpal so Manglu - Family friend of Prop. |
47 (08.02.1970) |
Chhajpurkalan, Panipat |
28.700 |
|
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS
· Furniture
· Plant and Machinery
· Building
· Cages
· Computer
· Building
· Electric Equipment
· Mobile
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 records 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
|
INR |
|
US Dollar |
1 |
INR 64.03 |
|
UK Pound |
1 |
INR 90.40 |
|
Euro |
1 |
INR 79.73 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
VIK |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE FACTORS
|
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial condition covering various ratios
·
Company background and operations size
·
Promoters / Management background
·
Payment record
·
Litigation against the subject
·
Industry scenario / competitor analysis
·
Supplier / Customer / Banker review (wherever
available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.