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MIRA INFORM REPORT
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Report No. : |
495537 |
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Report Date : |
13.03.2018 |
IDENTIFICATION DETAILS
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Name : |
REGIONAL OIL SEEDS GROWERS CO-OPERATIVE SOCIETIES UNION LIMITED |
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Registered
Office : |
Taj Nagar, Hubli Road, Hubli, Dharwad – 580031, Karnataka |
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Tel. No.: |
91-836-2371167 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
03.06.1990 |
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Com. Reg. No.: |
Not Available |
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Capital
Investment / Paid-up Capital : |
INR 4.848 Million |
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CIN No.: [Company Identification
No.] |
Not Available |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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TIN / CST No.: |
29960002297 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAAAR0293H |
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GSTN : [Goods & Service Tax
Registration No.] |
29AAAAR0293H1ZG |
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Legal Form : |
Co-operative Society |
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Line of Business
: |
Manufacturer of Oil Seeds and Packaging of Oil Seeds. (Registered activity) |
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No. of Employees
: |
6 (at site) (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 400000 (IN INR 25998000) |
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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 : |
“Regional Oil Seeds Growers Co-operative Society Union Limited, Dharwad, Karnataka” is an oil seed grower organization established on 3rd June 1990 led by “The Karnataka Co-operative Oilseeds Growers Federation Limited (KOF)” with a aim of establishing a direct link between the producer and the consumer. The federation has 4 members, viz, three regional oil seed growers’ co-operative unions working at Chitra Durga, Hubli, Raichur and NDDB. The union under “Dharwad District” looks after the production enhancement and procurement of oilseeds along with packing of oil seeds in its own factory at Hubli plant and then sells it to ultimate consumer within its project area. As of March 2017, the general financial position of Dharwad Union is reflected by strong net worth base and comfortable debt protection metrics and fair liquidity position. Rating takes into consideration, the long and established track record of its business operation backed by its well-experienced management team along with strong financial support from State Federation. Payments seems to usually correct. In view of aforesaid, the society can be considered for business dealing at usual trade terms and conditions. Note: Site visit was conducted at the given address and our executive have successfully traced the subject. At the premise our executive met Mr. Shekar (Designation not Divulged) confirmed the existence of the subject on the given address. As per our executive’s observation, it is shed type premises and the area of the premises is 1100 SQ.FT. Location is easy to find. Locality seems to be commercial and area near the premises seems to be upmarket. Further, our executive have sighted approximately 6 employees at the premises and also sighted telephone, computers, office equipment and furniture items. Even the name board of the subject was sighted at the given premise address. On enquiry with Mr. Nagesh from neighbouring company “Shravani Graphics” confirmed that, the subject exist on 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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
Not Available |
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Rating |
Not Available |
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Rating Explanation |
Not Available |
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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 13.03.2018
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 BY
|
Name : |
Mr. Patil |
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Designation : |
Deputy General Manager |
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Contact No.: |
91-9900553039 |
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Date : |
12.03.2018 |
91-836-2377409 (NUMBER DOES NOT EXIST)
MANAGEMENT NON-COOPERATIVE (TEL NO.: 91-836-2371167)
LOCATIONS
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Registered Office / Dharwad Division : |
Taj Nagar, Hubli Road, Hubli, Dharwad – 580031, Karnataka, India |
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Tel No.: |
91-836-2371167 |
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Mobile No.: |
91-9900553039 (Mr. Patil) |
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Fax No.: |
Not Available |
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Website : |
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Area : |
1100 Sq. Ft. |
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Locality : |
Commercial |
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Davanagere Division
: |
Plot No. 74/A, Kelagote Industrial Area - 577501, Chitradurga, India |
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RAICHUR ZONE |
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Raichur Division : |
P.B. No. 328, Hyderabad Road, Raichur - 584102, Karnataka, India |
MEMBER
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Name : |
Mr. Patil |
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Designation : |
Deputy General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
NOT AVAILABLE
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Oil Seeds and Packaging of Oil Seeds. (Registered activity) |
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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 : |
6 (at site) (Approximately) |
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Bankers : |
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Auditors : |
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Name : |
M. K. Babaji and Company Chartered Accountants |
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Membership No.: |
024320 |
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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 31.03.2017
Share Capital : INR 4.848 Million
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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4.848 |
4.848 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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135.620 |
117.936 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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140.468 |
122.784 |
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LOAN FUNDS |
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1] Secured Loans |
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15.674 |
31.347 |
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2] Unsecured Loans |
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49.767 |
0.000 |
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TOTAL BORROWING |
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65.441 |
31.347 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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205.909 |
154.131 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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104.540 |
94.809 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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1.081 |
1.081 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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27.836
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25.879
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Sundry Debtors |
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94.723 |
69.918 |
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Cash & Bank Balances |
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6.254
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22.619
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Other Current Assets |
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10.724
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7.913
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Loans & Advances |
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0.859 |
1.475 |
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Total
Current Assets |
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140.396
|
127.804
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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7.464 |
5.048 |
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Other Current Liabilities |
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32.644 |
64.515 |
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Provisions |
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0.000
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0.000
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Total
Current Liabilities |
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40.108
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69.563
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Net Current Assets |
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100.288 |
58.241 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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205.909 |
154.131 |
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PROFIT
& LOSS ACCOUNT
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.20125 |
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Sales Turnover (Approximately) |
Not Divulged |
2422.600 |
1872.000 |
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The above information has been parted by Mr. Patil (Deputy General
Manager)
KEY
RATIOS
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
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Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
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0.43 |
0.45 |
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Debt Equity Ratio (Total Liability
/ Networth) |
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0.47 |
0.26 |
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Current Liabilities to Networth (Current
Liabilities / Net Worth) |
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0.64 |
0.57 |
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Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
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0.74 |
0.77 |
SOLVENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
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Current Ratio (Current Assets / Current Liabilities) |
|
1.57 |
1.85 |
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Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
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1.26 |
1.48 |
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G-Score Ratio Financial (Networth / Total
Assets) |
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0.57 |
0.55 |
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G-Score Ratio Debt (Debts / Equity
Capital) |
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13.50 |
6.47 |
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G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
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1.57 |
1.85 |
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 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
|
Share Capital |
4.848 |
4.848 |
|
Reserves & Surplus |
117.936 |
135.620 |
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Net
worth |
122.784 |
140.468 |
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Long Term borrowings |
31.347 |
15.674 |
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Short Term borrowings |
0.000 |
49.767 |
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Total
borrowings |
31.347 |
65.441 |
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Debt/Equity
ratio |
0.255 |
0.466 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
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|
INR
In Million |
INR
In Million |
|
Sales
|
1872.000 |
2422.600 |
|
|
|
29.412 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
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2 |
Constitution of the entity – Legal Form |
Yes |
|
3 |
Locality of the entity |
Yes |
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4 |
Premises details |
Yes |
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5 |
Buyer visit details |
-- |
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6 |
Contact numbers |
Yes |
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7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
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9 |
Promoter’s background |
No |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
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13 |
Type of business |
Yes |
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14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last two years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last two years |
No |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OBSERVATION FORM
|
COMPANY NAME: REGIONAL OIL SEEDS GROWERS CO-OPERATIVE SOCIETIES UNION LIMITED ADDRESS: TAJ NAGAR, HUBLI ROAD, HUBLI, DHARWAD – 580031, KARNATAKA, INDIA PERSON TO WHOM WE MET: MR. SHEKAR NAME BOARD: SIGHTED LOCATION: EASY LANDMARK (IF ANY): SHRAVANI GRAPHICS SUBJECT SITUATED ON : SHED TYPE PREMISES LOCALITY: COMMERCIAL AREA OF PREMISES: 1100 SQ. FT. AREA: UPMARKET NO. OF EMPLOYEES SEEN AT PREMISES: 6 VISIBILITY OF
ITEMS: TELEPHONE: YES COMPUTERS: YES OFFICE EQUIPMENT: YES FURNITURE ITEMS
SIGHTED: YES NEIGHBOUR’S
INTERVIEW NAME OF COMPANY
: SHRAVANI GRAPHICS CONTACT
PERSON NAME : NAGESH NEIGHBOUR’S
OVERVIEW : HE CONFIRMED THAT THE SUBJECT EXIST ON THE GIVEN ADDRESS. PROOF OF VISIT: PHOTOGRAPH |
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 65.08 |
|
|
1 |
INR 89.85 |
|
Euro |
1 |
INR 80.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
NSG |
|
|
|
|
Report Prepared
by : |
KJL |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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.