|
|
|
MIRA INFORM REPORT
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Report No. : |
486930 |
|
Report Date : |
19.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
LOUIS DREYFUS COMPANY INDIA PRIVATE LIMITED (w.e.f. 24.06.2016) |
|
|
|
|
Formerly Known
As : |
LOUIS
DREYFUS COMMODITIES INDIA PRIVATE LIMITED (w.e.f. 22.12.2006) LOUIS
DREYFUS INDIA PRIVATE LIMITED |
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|
|
|
Registered
Office : |
RNM Centre, 68/2, Janpath, New Delhi - 110001 |
|
Tel. No.: |
91-124-4625660 |
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|
Country : |
India |
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|
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
19.06.1997 |
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Com. Reg. No.: |
55-126131 |
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Capital
Investment / Paid-up Capital : |
INR 260.291 Million |
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|
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CIN No.: [Company Identification
No.] |
U51909DL1997PTC126131 |
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IEC No.: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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GSTIN : |
Not Divulged |
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PAN No.: [Permanent Account No.] |
AAACL7361E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Supplier of agricultural commodities like wheat, cotton, maize, coffee, sugar, oil and seeds and manufacturing / processing of edible oils and coffee. (Registered activity) |
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No. of Employees
: |
Information declined by the management |
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 : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a step down subsidiary of “Louis Dreyfus Commodities B.V. based
in Netherlands. It was incorporated in the year 1997 and engaged in trading
of agriculture commodities like wheat, cotton, maize, coffee, sugar, oil and
seeds and manufacturing / processing of edible oils and coffee. As per financials of March 2017, the company has registered growth of
25.94% in its revenue as compared to its previous year’s revenue and has
reported average profit margin 2.24% under review. Rating takes into consideration the company’s established track record
of business operations marked by sound net worth base along with comfortable
debt coverage indicators and good liquidity position. Rating takes into account the strong financial and managerial support
received from its holding entity and well experienced management team. Further, the company has reported good earnings per share of INR 64.26
against its face value of INR 10. Payments are reported to be regular. 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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
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 19.01.2018
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 DENIED
MANAGEMENT NON-COOPERATIVE: Tel. No.: 91-124-4625600 / 660
LOCATIONS
|
Registered Office : |
RNM Centre, 68/2, Janpath, New Delhi – 110001, India |
|
Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office : |
8th Floor, Tower 5A, DLF Cyber City, DLF Phase III, Gurugram – 122002, Haryana, India |
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Tel. No.: |
91-124-4625600 |
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Fax No.: |
91-124-4233670 |
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|
|
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Branch Office : |
Survey No.1601, Situated At Epuru 1 B, Pantapalem, Village :
Muthukuru, SPS, Nellore - 524323, Andhra Pradesh, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Rakesh Aggarwal |
|
Designation : |
Director |
|
Address : |
A-69, Second Floor, Residential Area, Naraina Vihar, Delhi – 110028, India |
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Date of Birth/Age : |
01.11.1962 |
|
Qualification : |
CA, CS |
|
Date of Appointment : |
27.09.2013 |
|
PAN No.: |
AAAPA1391C |
|
DIN No.: |
00091568 |
|
|
|
|
Name : |
Mr. Mitesh Kishorchandra Shah |
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Designation : |
Director |
|
Address : |
C-33, The Icon, Off Golf Course Road, DLF Phase -5, Gurugram – 122002, Haryana, India |
|
Date of Birth/Age : |
03.12.1977 |
|
Qualification : |
MBA |
|
Date of Appointment : |
23.09.2016 |
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PAN No.: |
AJPPS2683H |
|
DIN No.: |
02188584 |
|
|
|
|
Name : |
James Fernando O' Donahue |
|
Designation : |
Director |
|
Address : |
30 Mt Elizabeth, 14-32 High Point Singapore 228519 SG |
|
Date of Birth/Age : |
14.05.1972 |
|
Qualification : |
BA (Hons) from the Cambridge University |
|
Date of Appointment : |
28.09.2012 |
|
DIN No.: |
05200037 |
|
|
|
|
Name : |
Simmarpal Singh Bhurjee |
|
Designation : |
Director |
|
Address : |
H. No 65 B/4, Gautam Nagar, New Delhi – 110049, India |
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Date of Birth/Age : |
04.04.1970 |
|
Qualification : |
PG in Rural Management |
|
Date of Appointment : |
29.09.2015 |
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PAN No.: |
AFAPB5477K |
|
DIN No.: |
06868288 |
KEY EXECUTIVES
|
Name : |
Mr. Rakesh Aggarwal |
|
Designation : |
Company Secretary |
|
Address : |
A-69, Second Floor, Residential Area, Naraina Vihar, Delhi – 110028, India |
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Date of Birth/Age : |
01.11.1962 |
|
Qualification : |
CA, CS |
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Date of Appointment : |
17.10.2008 |
|
PAN No.: |
AAAPA1391C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Louis Dreyfus Company Asia Pte Limited, Singapore (formerly known as Louis Dreyfus Commodities Asia Pte Limited) |
|
26029071 |
|
Louis Dreyfus Company B.V., Netherland (formerly known as Louis Dreyfus Commodities B.V.) |
|
1 |
|
Total |
|
26029072 |
Equity Share Break up (Percentage of Total Equity)
As on 25.09.2017
|
Category |
Percentage |
|
Promoter - Bodies
corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Supplier of agricultural commodities like wheat, cotton, maize, coffee, sugar, oil and seeds and manufacturing / processing of edible oils and coffee. (Registered activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
7th Floor, Building 10, Tower B, DLF Cyber City Complex, DLF City Phase - II, Gurugram – 122002, Haryana, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AABFD2095B |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company: |
Louis Dreyfus Company Asia Pte Limited, Singapore |
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Fellow Subsidiary company
: |
U51900DL2012PTC246047
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
INR 10/- each |
INR 300.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
26029072 |
Equity Shares |
INR 10/- each |
INR 260.291
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 |
260.291 |
260.291 |
260.291 |
|
(b) Reserves and Surplus |
2031.427 |
358.670 |
1113.206 |
|
(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) |
2291.718 |
618.961 |
1373.497 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1491.700 |
1524.900 |
2134.061 |
|
(b) Deferred tax liabilities (Net) |
217.839 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
88.466 |
107.830 |
79.963 |
|
Total Non-current
Liabilities (3) |
1798.005 |
1632.730 |
2214.024 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
11004.640 |
9587.108 |
4566.285 |
|
(b) Trade
payables |
29134.179 |
5103.467 |
3259.458 |
|
(c) Other
current liabilities |
1770.933 |
1013.936 |
1022.411 |
|
(d) Short-term
provisions |
99.949 |
89.140 |
85.073 |
|
Total Current
Liabilities (4) |
42009.701 |
15793.651 |
8933.227 |
|
|
|
|
|
|
TOTAL |
46099.424 |
18045.342 |
12520.748 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
2498.777 |
2702.688 |
2865.810 |
|
(ii)
Intangible Assets |
8.375 |
7.374 |
16.735 |
|
(iii) Tangible assets
capital work-in-progress |
6.916 |
10.247 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
25.542 |
|
(b) Non-current Investments |
0.044 |
0.038 |
0.113 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
72.952 |
|
(d)
Long-term loans and advances |
432.424 |
368.794 |
360.458 |
|
(e) Other
Non-current assets |
240.370 |
0.967 |
1.135 |
|
Total Non-Current
Assets |
3186.906 |
3090.108 |
3342.745 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
32095.808 |
10213.300 |
6756.333 |
|
(c) Trade
receivables |
8812.329 |
3128.350 |
1119.352 |
|
(d) Cash and
bank balances |
52.775 |
95.795 |
117.383 |
|
(e)
Short-term loans and advances |
1781.747 |
1515.390 |
1182.029 |
|
(f) Other
current assets |
169.859 |
2.399 |
2.906 |
|
Total
Current Assets |
42912.518 |
14955.234 |
9178.003 |
|
|
|
|
|
|
TOTAL |
46099.424 |
18045.342 |
12520.748 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
74119.761 |
58855.452 |
52852.143 |
|
|
Other Income |
1072.115 |
145.840 |
237.969 |
|
|
TOTAL |
75191.876 |
59001.292 |
53090.112 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
16484.331 |
15440.503 |
20421.216 |
|
|
Purchases of
Stock-in-Trade |
75304.624 |
42343.477 |
25013.523 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(22153.801) |
(2104.442) |
3945.514 |
|
|
Employee benefit expense |
630.171 |
871.292 |
665.603 |
|
|
CSR expenditure |
0.000 |
0.000 |
0.433 |
|
|
Other expenses |
2238.949 |
2120.902 |
2447.252 |
|
|
Prior period items |
0.000 |
0.000 |
16.648 |
|
|
TOTAL |
72504.274 |
58671.732 |
52510.189 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
2687.602 |
329.560 |
579.923 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
554.821 |
785.704 |
768.440 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
2132.781 |
(456.144) |
(188.517) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
234.442 |
225.440 |
248.818 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
1898.339 |
(681.584) |
(437.335) |
|
|
|
|
|
|
|
Less |
TAX |
225.582 |
72.952 |
(6.827) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
1672.757 |
(754.536) |
(430.508) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
23106.723 |
17538.337 |
9974.267 |
|
|
Income from service charges |
203.731 |
251.019 |
167.199 |
|
|
Rebate and settlement |
141.099 |
10.749 |
18.084 |
|
|
Others |
39.854 |
10.337 |
4.497 |
|
|
TOTAL
EARNINGS |
23491.407 |
17810.442 |
10164.047 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
9880.721 |
7178.250 |
5673.134 |
|
|
TOTAL IMPORTS |
9880.721 |
7178.250 |
5673.134 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
64.26 |
(28.99) |
(16.54) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(612.583) |
(3582.955) |
4030.225 |
|
Net cash flows from (used in) operating activities |
(685.058) |
(3592.107) |
4019.296 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
43.40 |
19.40 |
7.73 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
8.41 |
18.81 |
47.22 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
115.85 |
32.24 |
26.18 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.08 |
0.03 |
0.09 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
1.07 |
0.12 |
0.20 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.94 |
0.96 |
0.88 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
5.45 |
17.95 |
4.88 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
18.33 |
25.52 |
6.50 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
1.10 |
4.39 |
2.12 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
4.84 |
0.42 |
0.75 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
2.26 |
(1.28) |
(0.81) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
3.63 |
(4.18) |
(3.44) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
72.99 |
(121.90) |
(31.34) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.02 |
0.95 |
1.03 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
0.26 |
0.30 |
0.27 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.05 |
0.03 |
0.11 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
48.01 |
42.69 |
25.74 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.02 |
0.95 |
1.03 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
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 |
260.291 |
260.291 |
260.291 |
|
Reserves & Surplus |
1113.206 |
358.670 |
2031.427 |
|
Net
worth |
1373.497 |
618.961 |
2291.718 |
|
|
|
|
|
|
Long-term borrowings |
2134.061 |
1524.900 |
1491.700 |
|
Short term borrowings |
4566.285 |
9587.108 |
11004.640 |
|
Total
borrowings |
6700.346 |
11112.008 |
12496.340 |
|
Debt/Equity
ratio |
4.878 |
17.953 |
5.453 |
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 |
52852.143 |
58855.452 |
74119.761 |
|
|
0.000 |
11.359 |
25.935 |
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 |
52852.143 |
58855.452 |
74119.761 |
|
Profit/ (Loss) |
(430.508) |
(754.536) |
1672.757 |
|
|
(0.81
%) |
(1.28
%) |
2.26
% |
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 |
rPremises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
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) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
FINANCIAL RESULTS
The Company has reported revenue from operations amounting to INR 74119.760 million during the current financial year ended March 31st, 2017 as compared to INR 58855.450 million in the previous year ended March 31st, 2016.
The Company has earned a profit before tax of INR 1898.330 million and profit after tax of INR 1672.750 million during the current financial year ended March 31st, 2017 as compared to a loss before tax of 681.580 million and loss after tax of INR 754.530 million respectively during the previous year ended March 31st, 2016.
ABOUT THE COMPANY
Subject (Formerly known as Louis Dreyfus Commodities India Private Limited) (the Company) is part of Louis Dreyfus Company group who are commodity merchants and processors of agricultural products having merchandised and traded bulk soft commodities in international markets.
Louis Dreyfus Company is a supplier of a range of agricultural commodities integrated from origin to destination.
The Company is into trading of agricultural commodities like wheat, cotton, maize, coffee, sugar, oil and seeds and manufacturing / processing of edible oils and coffee.
STATE OF COMPANY’S
AFFAIRS DURING THE YEAR
Vegetable oils and
oil seeds:
The existing vegetable oil refineries at Kandla and Krishnapatnam operated at a utilization level of 64% and 20% respectively compared to 67% and 33% respectively in previous year. The company has postponed the construction of the new refinery facility at Ratnagiri in the state of Maharashtra.
Cotton
Cotton trading volume has decreased by 21% and traded 119 KMT during current compared to 150 KMT during previous year. Also at the end of current year, we are carrying inventory to the extent of 162 KMT which was liquidated in subsequent FY i.e. 2017-18.
Coffee
Coffee trading volume has decreased by 34.2% and traded 07.40 KMT during the reporting current year (2016-17) against 11.25KMT during previous year (2015-2016) due to increase of production process gone up by 308% as manufacture sale 10.812KMT in current year (2016-17) against 2.650KMT during 2015-16.
Grains:
High seas sales of imported wheat was achieved at around 199 KMT which was NIL last year. Further, merchant sale of Maze has increased to 113 KMT as compared to 56 KMT last year and 52 KMT in wheat which was NIL last year.
Rice:
Rice business was closed during the year due to no further
opportunities in rice trading in India.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Rupee term loans from banks |
2350.000 |
4655.000 |
|
Foreign currency term loans from banks |
7659.524 |
4226.432 |
|
Working capital loans from banks |
995.117 |
705.676 |
|
Total |
11004.640 |
9587.108 |
INDEX
OF CHARGES: NO CHARGES EXIST FOR THE COMPANY
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
(a) Claims not
acknowledged as debts:* |
|
|
|
Income tax |
2.310 |
2.310 |
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Office building
- Factory building
- Plant and equipment
- Factory equipments
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer equipments
- Leasehold improvements
Intangible assets
- Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 63.84 |
|
|
1 |
INR 88.28 |
|
Euro |
1 |
INR 77.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVT |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
SUJ |
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 |
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.