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|
%20PRIVATE%20LIMITED%20-%20491458%2012-Feb-2018_files/image015.jpg){kind=small}
%20PRIVATE%20LIMITED%20-%20491458%2012-Feb-2018_files/image016.jpg)
%20PRIVATE%20LIMITED%20-%20491458%2012-Feb-2018_files/image018.gif)
MIRA INFORM REPORT
|
Report No. : |
491458 |
|
Report Date : |
12.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
FARMERSFORTUNE (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
G-102, Molshree Residency, Plot No. 29, Mission Compound, Ajmer Road, Jaipur – 302006, Rajasthan |
|
Tel. No.: |
91-141-2372739 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
06.03.2012 |
|
|
|
|
Com. Reg. No.: |
17-038139 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
INR 1000.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U01122RJ2012PTC038139 |
|
|
|
|
IEC No.: |
0312057091 |
|
|
|
|
GST No.: |
27AABCF9257C1ZN |
|
|
|
|
TIN No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCF9257C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
· Trader, Importer and Exporter of Agro Products like Spices, Dry Fruits, Cereals, Food Grains, Oilseeds, Pulses, etc. [Confirmed by Management] · Subject is engaged in the business of procurement and sale of agricultural products such as food grains, cereals, pulses and oil seeds. [Registered Activity] |
|
|
|
|
No. of Employees
: |
40 (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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a wholly owned subsidiary of “Star Agriwarehousing and Collateral Management Limited”. The company was incorporated in the year 2012. It is a trader, exporter and importer of Agro products like Spices, Dry Fruits, Pulses and Oil Seeds. For the financial year 2017, the revenue of the company has decreased by 8.06% and has incurred operational loss. The moderate financial profile of the company is marked by negative reserve base along with average debt coverage indicators. However, rating weakness is partially offset by equity infused by its promoters. Rating also takes into consideration strong financial and managerial support that company receives from its holding entity backed by its well experienced management team. Payments seems to be slow but correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
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 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term Bank Facilities =BBB+ |
|
Rating Explanation |
Adequate degree of safety and moderate credit risk. |
|
Date |
18.05.2017 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term Bank Facilities = A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
18.05.2017 |
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 12.02.2018.
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. Rahul Singhania |
|
Designation : |
Chief Financial Officer (KMP) |
|
Contact No.: |
91-9324001477 |
|
Date : |
09.02.2018 |
LOCATIONS
|
Registered Office : |
G-102, Molshree Residency, Plot No. 29, Mission Compound, Ajmer Road, Jaipur – 302006, Rajasthan, India |
|
Tel. No.: |
91-141-2372739 |
|
Mobile No.: |
91-9324001477 [Mr. Rahul Singhania] |
|
Fax No.: |
91-141-2371079 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Branch Office : |
1st Floor, Room No 112, Jayant Oil Mill, Warehouse Compound,
Plot No 48/44 Sector 19A, Near APMC Market, Vashi, Navi Mumbai-400705,
Maharashtra, India |
|
|
|
|
Corporate Office : |
1st Floor, B Wing, Litoller Chamber, Near Marol Metro
Station, Marol Naka, Andheri (East), Mumbai-400059, Maharashtra, India |
|
Tel. No.: |
91-22-61829600 |
|
Location : |
Rented |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Amit Khandelwal |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
D-28, New Colony, Gumanpura, Kota – 324005, Rajasthan, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
08.04.1978 |
||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
M.Com. |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
06.03.2012 |
||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AKAPK6514B |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00809249 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Amith Srikrishna Agarwal |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Wholetime Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
H. No. 77, Keshav Nagar, Scheme No.13, Alwar – 301001, Rajasthan, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
12.07.1980 |
||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
M.B.A. |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
06.03.2012 |
||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
ADPPA5335E |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01140768 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Amit Kumar Goyal |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
House no. 2-E-11, Sukhadiya Nagar, Ganganagar-335001, Rajasthan, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
09.03.1977 |
||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
M.A. |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
06.03.2012 |
||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
ABHPG9992K |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00474023 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Sureshchandra Shyamlal Goyal |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
08, Samarth Nagar, Jalam Vilas, Paota B Road, Jodhpur – 342001, Rajasthan, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.03.1952 |
||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
B.Com |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
06.03.2012 |
||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
ABEPG7762N |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
02018073 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mrs. Anjali Pradeep Agrawal |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
Flat No.5 , 119/27 Pcndta Nigdi, Pune – 411044, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
13.03.1969 |
||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
M.Sc (Organic Chemistry) |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
21.03.2015 |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01843615 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Rahul Singhania |
|
Designation : |
Chief Financial Officer (KMP) |
|
Address : |
A/1003, Pacific Housing Co-Opeative Society Limited, Sagar City, Andheri (West), Mumbai – 400058, Maharashtra, India |
|
Date of Appointment : |
19.01.2015 |
|
PAN No.: |
BCQPS4141F |
|
|
|
|
Name : |
Ms. Ritu Koolwal |
|
Designation : |
Company Secretary |
|
Address : |
D-173, Bhrigu Marg Bani Park, Jaipur – 302016, Rajasthan, India |
|
Date of Appointment : |
01.10.2014 |
|
PAN No.: |
COEPS8782R |
|
|
|
|
Name : |
Mr. Krishanu Chakravarty |
|
Designation : |
Chief Executive Officer (KMP) |
|
Address : |
Villa No. B-7, Kent Villa, Near Choice School Tripunithura, P O Ernakulam-682301, Kerala, India |
|
Date of Appointment : |
10.11.2016 |
|
PAN No.: |
ADUPC2297G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders [Equity Shares] |
|
No. of Shares |
|
Amith Kumar Goyal and Star Agriwarehousing and Collateral Management Limited, India |
|
100 |
|
Amith Agarwal and Star Agriwarehousing and Collateral Management Limited, India |
|
100 |
|
Amit Khandelwal and Star Agriwarehousing and Collateral Management Limited, India |
|
100 |
|
Suresh Chandra Goyal and Star Agriwarehousing and Collateral Management Limited, India |
|
100 |
|
Star Agriwarehousing and Collateral Management Limited, India |
|
19999600 |
|
|
|
|
|
Total |
|
20000000 |
|
Names of Shareholder [Preference Shares] |
|
No. of Shares |
|
Star Agriwarehousing and Collateral Management Limited, India |
|
80000000 |
|
|
|
|
|
Total |
|
80000000 |
AS ON: 21.11.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Body Corporate |
100.00 |
|
|
|
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20491458%2012-Feb-2018_files/image020.gif)
BUSINESS DETAILS
|
Line of Business : |
· Trader, Importer and Exporter of Agro Products like Spices, Dry Fruits, Cereals, Food Grains, Oilseeds, Pulses, etc. [Confirmed by Management] · Subject is engaged in the business of procurement and sale of agricultural products such as food grains, cereals, pulses and oil seeds. [Registered Activity] |
||||
|
|
|
||||
|
Products/ Services : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
Agro Products |
||||
|
Countries : |
· Vietnam · Indonesia · USA · Gulf Countries |
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Agro Products |
||||
|
Countries : |
· China · Africa · Brazil |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
L/C and Cheque |
||||
|
|
|
||||
|
Purchasing : |
L/C and Cheque |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Customers : |
Retailers and End Users
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
No. of Employees : |
40 (Approximately) |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
· Punjab National Bank · DCB Bank Limited · Axis Bank Limited · Union Bank of India Bandra (West), Mumbai, Maharashtra, India · United Bank of India Fort, Maharashtra, India |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Auditors : |
|
|
Name : |
B S R and Associates Chartered Accountants |
|
Address : |
Lodha Excelus, 1St Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalakhsmi, Mumbai – 400011, Maharashtra, India |
|
PAN No.: |
AABFD7919A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company: |
Star Agriwarehousing and Collateral Management Limited, India
[U51219RJ2006PLC022427] |
|
|
|
|
Fellow Subsidiary company: |
Star Agri Finance Limited , India [U65999MH1995PLC267097] |
|
|
|
|
Other Related Parties : |
· Sun Agro Corporation · Ramchandra Mundawala and Sons |
|
|
|
|
Sister Concern : [Confirmed by Management] |
· Star Agri Technologies Private Limited · Star Agri Infrastructure Private Limited |
|
|
|
|
Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives: |
· Amit Gaurav and Co · Uttam Agro Sales · Amit Industries |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
INR 10/- each |
INR 200.000 Million |
|
80000000 |
Preference Shares |
INR 10/- each |
INR 800.000 Million |
|
|
Total |
|
INR 1000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
INR 10/- each |
INR 200.000 Million |
|
80000000 |
Preference Shares |
INR 10/- each |
INR 800.000 Million |
|
|
Total |
|
INR 1000.000
Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1000.000 |
500.000 |
200.000 |
|
(b) Reserves and Surplus |
(345.792) |
(158.180) |
89.884 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
654.208 |
341.820 |
289.884 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
55.909 |
66.112 |
247.536 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.165 |
0.000 |
0.000 |
|
(d) long-term
provisions |
2.504 |
1.197 |
0.787 |
|
Total Non-current
Liabilities (3) |
58.578 |
67.309 |
248.323 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
1372.622 |
2513.523 |
3514.720 |
|
(b) Trade
payables |
285.502 |
615.114 |
862.810 |
|
(c) Other
current liabilities |
553.883 |
587.113 |
241.019 |
|
(d) Short-term
provisions |
0.098 |
0.494 |
0.093 |
|
Total Current
Liabilities (4) |
2212.105 |
3716.244 |
4618.642 |
|
|
|
|
|
|
TOTAL |
2924.891 |
4125.373 |
5156.849 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
114.605 |
125.654 |
125.920 |
|
(ii)
Intangible Assets |
2.135 |
5.339 |
8.542 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.190 |
0.190 |
0.190 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
396.540 |
204.990 |
141.793 |
|
(e) Other
Non-current assets |
27.718 |
16.169 |
18.707 |
|
Total Non-Current
Assets |
541.188 |
352.342 |
295.152 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
2.500 |
3.300 |
5.694 |
|
(b)
Inventories |
1498.805 |
2466.423 |
3164.194 |
|
(c) Trade
receivables |
656.948 |
693.308 |
1057.968 |
|
(d) Cash and
bank balances |
21.808 |
53.954 |
91.141 |
|
(e)
Short-term loans and advances |
198.618 |
403.470 |
510.226 |
|
(f) Other
current assets |
5.024 |
152.576 |
32.474 |
|
Total
Current Assets |
2383.703 |
3773.031 |
4861.697 |
|
|
|
|
|
|
TOTAL |
2924.891 |
4125.373 |
5156.849 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
5761.553 |
6266.781 |
5839.964 |
|
|
Other Income |
19.939 |
11.225 |
52.367 |
|
|
TOTAL |
5781.492 |
6278.006 |
5892.331 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of Stock-in-Trade |
4629.677 |
5159.834 |
6299.970 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
967.617 |
697.771 |
(1066.206) |
|
|
Employee benefit expense |
44.963 |
45.228 |
31.914 |
|
|
Other expenses |
116.693 |
243.710 |
177.462 |
|
|
TOTAL |
5758.950 |
6146.543 |
5443.140 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
22.542 |
131.463 |
449.191 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
196.088 |
366.002 |
412.685 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(173.546) |
(234.539) |
36.506 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
14.066 |
13.525 |
3.772 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(187.612) |
(248.064) |
32.734 |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
12.004 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(187.612) |
(248.064) |
20.730 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
0.000 |
104.161 |
689.857 |
|
|
TOTAL EARNINGS |
0.000 |
104.161 |
689.857 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Capital Goods |
268.140 |
674.658 |
411.589 |
|
|
TOTAL IMPORTS |
268.140 |
674.658 |
411.589 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(9.38) |
(12.40) |
1.04 |
Expected Sales (2017-2018): INR 4500.000 Million [Due to market
fluctuation]
The above information has been parted by Mr. Rahul Singhania [Chief
Financial Officer (KMP)]
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
8.247 |
6.973 |
0.000 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
1140.918 |
1213.831 |
(392.893) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
1127.068 |
1177.785 |
(421.948) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
41.62 |
40.38 |
66.12 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
8.77 |
9.04 |
5.52 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
22.51 |
43.51 |
49.99 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.02 |
0.05 |
0.14 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.19 |
1.00 |
3.34 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.78 |
0.92 |
0.94 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
2.20 |
7.57 |
12.98 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
3.38 |
10.87 |
15.93 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.18 |
0.38 |
0.46 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.11 |
0.36 |
1.09 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(3.26) |
(3.96) |
0.35 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(6.41) |
(6.01) |
0.40 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(28.68) |
(72.57) |
7.15 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.08 |
1.02 |
1.05 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.40 |
0.35 |
0.37 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.22 |
0.08 |
0.06 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
1.44 |
5.17 |
18.81 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.08 |
1.02 |
1.05 |
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
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
200.000 |
500.000 |
1000.000 |
|
Reserves & Surplus |
89.884 |
(158.180) |
(345.792) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
289.884 |
341.820 |
654.208 |
|
|
|
|
|
|
Long-term borrowings |
247.534 |
66.112 |
55.909 |
|
Short term borrowings |
3514.720 |
2513.523 |
1372.622 |
|
Current maturities of
long-term debts |
0.000 |
6.973 |
8.247 |
|
Total
borrowings |
3762.254 |
2586.608 |
1436.778 |
|
Debt/Equity
ratio |
12.978 |
7.567 |
2.196 |
%20PRIVATE%20LIMITED%20-%20491458%2012-Feb-2018_files/image022.gif)
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 |
5839.964 |
6266.781 |
5761.553 |
|
|
|
7.309 |
(8.062) |
%20PRIVATE%20LIMITED%20-%20491458%2012-Feb-2018_files/image024.gif)
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 |
5839.964 |
6266.781 |
5761.553 |
|
Profit/ (Loss) |
20.730 |
(248.064) |
(187.612) |
|
|
0.35
% |
(3.96
%) |
(3.26
%) |
%20PRIVATE%20LIMITED%20-%20491458%2012-Feb-2018_files/image026.gif)
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 |
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) |
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% |
Yes |
|
28 |
Estimation for coming financial year |
Yes |
|
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
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C79708384 |
10621598 |
State Bank of Hyderabad |
08/02/2016 |
- |
- |
100000000.0 |
10-A, Jhalawar RoadKotaKotaRJ324007IN |
|
2 |
C76164045 |
10613813 |
DCB BANK LIMITED |
15/01/2016 |
- |
- |
50000000.0 |
A-Set House, III Floor7/56, Desh Bandhu Gupta Road, Karol BaghNew DelhiDL110005IN |
|
3 |
G05310305 |
100031653 |
State Bank of India |
15/01/2016 |
- |
- |
200000000.0 |
SME Sadar BazarBara Tooti Chowk, Phoota RoadDelhiDL110006IN |
|
4 |
G02163863 |
10604174 |
Punjab National Bank |
30/09/2015 |
30/03/2016 |
- |
500000000.0 |
6-1-73, First FloorSeed Plaza, Saifabad, LakdikapulHyderabadTG500004IN |
|
5 |
C35230473 |
10534554 |
State Bank of Hyderabad |
19/09/2014 |
- |
- |
75000000.0 |
10-A, JHALAWAR ROAD,KOTAKOTARJ324007IN |
|
6 |
C39423330 |
10540930 |
IDBI Bank Limited |
18/07/2014 |
- |
- |
225000000.0 |
Specialized Corporate Branch, Plot No. C-7,G BlockOpp. NSE,Bandra Kurla Complex, Bandra (E)MUMBAIMH400051IN |
|
7 |
B89433940 |
10459934 |
United Bank of India |
26/09/2013 |
- |
- |
480000000.0 |
United Bank of India Building25, Sir Pheroz Shah Mehta Road, FortMumbaiMH400001IN |
|
8 |
B62326475 |
10387435 |
THE KARUR VYSYA BANK LIMITED |
23/10/2012 |
- |
- |
200000000.0 |
CENTRAL LOAN PROCESSING CELL, GROUND FLOOR,KAMANWALA CHAMBERS, SIR P M ROAD, FORTMUMBAIMH400001IN |
|
9 |
G40690356 |
100039119 |
Cooperatieve Centrale Raiffeisen Boerenleen Bank B.A. |
15/07/2016 |
- |
04/04/2017 |
400000000.0 |
20/F, Tower A, Peninsula Business Park,Senapati Bapat Marg, Lower Parel,MumbaiMH400013IN |
|
10 |
G41573718 |
10588179 |
DBS Bank Ltd |
20/08/2015 |
- |
31/03/2017 |
300000000.0 |
DLF Capitol Point, Ground Floor & First FloorBaba Kharak Singh Marg, Connaught PlaceNew DelhiDL110001IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from others |
68.188 |
625.688 |
|
|
|
|
|
Total |
68.188 |
625.688 |
GENERAL INFORMATION
FarmersFortune (India) Private Limited (‘the Company’) was incorporated on 6 March 2012 under the Companies Act, 1956 (‘the Act’) and is a 100% subsidiary company of Star Agriwarehousing and Collateral Management Limited with effect from 1 November 2014. The Company is engaged in the business of procurement and sale of agricultural products such as food grains, cereals, pulses and oil seeds.
STATE OF THE COMPANYS AFFAIRS
The Company is engaged in the business inter alia of procurement and sale of agricultural commodities and Trade Facilitation services. Revenue of the year has decreased from INR 6278.000 Million in FY 2015-16 to Rs. 578.15 Cr in FY 2016-17. Further the company has incurred loss of INR 187.600 Million in the financial year 2016-17which was primarily on account of difficult market conditions, import / holding restrictions& other economic parameters.
However the company is hopeful that there will be significant growth in the agri commodity market on account of stabilization after demonetization effect and improvement in other market driven factors.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Claims against the
Company not acknowledged as debt in respect of |
|
|
|
Custom duty* |
4.381 |
4.381 |
|
Value added tax# |
1.141 |
1.141 |
|
Bank guarantees |
53.781 |
53.380 |
|
Letter of Credit |
16.340 |
0.000 |
|
|
|
|
|
Total |
75.643 |
58.902 |
Notes:
* Customs duty demand is being contested by the Company at Deputy Commissioner of Customs. The Company has been legally advised that it has a good case and the demand by the authority is not tenable. Future cash flows in respect of these are determinable only on receipt of judgements / decisions pending with Deputy Commissioner of Customs.
# On assessment by Commercial Taxes Department for the year 2014-15 and 2015-16, Government of Andhra Pradesh, they have raised demand of INR 1.141 Million which is being contested by the Company.
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
· Leasehold Improvements
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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 64.37 |
|
UK Pound |
1 |
INR 89.71 |
|
Euro |
1 |
INR 78.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
IND |
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--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.