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MIRA INFORM REPORT
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Report No. : |
509290 |
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Report Date : |
17.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
JK AGRI GENETICS LIMITED |
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Registered
Office : |
7, Council House Street, Kolkata-700001, West Bengal |
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Tel. No.: |
91-40-66316858 |
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Country : |
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Financials (as
on) : |
31.03.2018 |
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Date of
Incorporation : |
06.03.2000 |
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Com. Reg. No.: |
21-092886 |
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Capital
Investment / Paid-up Capital : |
INR 36.039 Million |
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CIN No.: [Company Identification
No.] |
L01400WB2000PLC091286 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Subject is engaged in research and
development, production, processing and marketing of
Hybrid Seeds in major agricultural field and vegetable crops.
[Registered Activity] |
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|
|
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No. of Employees
: |
410 (Approximately) [As on 2017] |
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Maximum Credit Limit : |
USD 2500000 |
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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 an established company incorporated in the year 2000 and it
is having good track records. It is engaged in the business of research, production and marketing of
hybrid seeds. For the financial year 2018, the company has increased its revenue
from operations as compared to previous year and maintained decent
profitability margin of 5.92%. Rating takes into consideration sound financial profile of the company
marked by healthy networth base and low debt balance sheet. Further, rating also derives strength from its experienced promoter
group, established brand name with extensive distribution network and strong
in-house R&D division and improvement in the revenue as well
profitability profile during the year. However, rating strength is partially offset by seasonality and
vulnerability of sales to agro-climatic conditions and the regulated nature
of the industry. Trade relations are reported as fair. Business is active. Payment
terms are seems 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 (30.09.2017) |
Current Rating (31.12.2017) |
|
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 Rating= A |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
13.12.2017 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Rating= A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
13.12.2017 |
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
31-03-2018.
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 17.05.2018
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 (91-40-66316858)
LOCATIONS
|
Registered Office : |
7, Council House Street, Kolkata-700001, West Bengal, India |
|
Tel. No.: |
91-40-66316858 |
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Fax No.: |
91-40-27764943 |
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E-Mail : |
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Website : |
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Administrative Office : |
1-10-177, 4th Floor, Varun Towers, Begumpet, Hyderabad -
500016, Telangana, India |
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Tel. No.: |
91-40-66316858 |
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Fax No.: |
91-40-27764943 |
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E-Mail : |
|
|
|
|
|
Processing Plants : |
Survey No. 509/2, Gundlapochampally, District Ranga Reddy – 501401,
Telangana, India |
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|
|
Biotechnology Lab : |
4-4/1, Jeedimetla Village, Pet Basheerabad, Qutubullapur
Municipality, |
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Tel. No.: |
91-40-27871723 / 0001 |
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R& D Centre : |
Ravalkol Village, Medichal Mandal, R R District, Telangana, India |
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Tel. No.: |
91-8418-260499 / 325677 |
DIRECTORS
AS ON 31.03.2018
|
Name : |
Mr. Bharat Hari Singhania |
|
Designation : |
Chairman |
|
Address : |
19, The Green, Rajokari, New Delhi – 110038, India |
|
Date of Appointment : |
30.03.2013 |
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DIN No.: |
00041156 |
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Name : |
Mr. Raghupati Singhania |
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Designation : |
Director |
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Address : |
40, Friends Colony (East), New Delhi – 110065, India |
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Date of Birth/Age : |
08.12.1946 |
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Date of Appointment : |
30.03.2013 |
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DIN No.: |
00036129 |
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Name : |
Mr. Vikrampati Singhania |
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Designation : |
Director |
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Address : |
1/8, Shanti Niketan, Chanakya Puri, New Delhi – 110021, India |
|
Date of Appointment : |
12.02.2013 |
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DIN No.: |
00040659 |
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|
Name : |
Mrs. Swati Singhania |
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Designation : |
Director |
|
Address : |
1/8, Shanti Niketan, Chanakya Puri, New Delhi – 110021, India |
|
Date of Appointment : |
03.02.2015 |
|
DIN No.: |
00095409 |
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|
Name : |
Mr. Sanjay Kumar Khaitan |
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Designation : |
Director |
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Address : |
114 - A Central Avenue Sainik Farm, New Delhi – 110062, India |
|
Date of Appointment : |
30.03.2013 |
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DIN No.: |
00156816 |
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|
Name : |
Mr. Sanjeev Kumar Jhunjhunwala |
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Designation : |
Director |
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Address : |
117/K/13, Gutaiya, Naveen Nagar, Kanpur – 208025, Uttar Pradesh, India |
|
Date of Appointment : |
12.02.2013 |
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DIN No.: |
00177747 |
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|
Name : |
Mr. Sanjay Kumar Gupta |
|
Designation : |
Wholetime Director |
|
Address : |
D1-101,Trendset Valley, View Apartment, 8-2-405/1, 2 and 3 Road No 6,
Banjara Hills, Khairatabad, Hyderabad – 500034, Telangana, India |
|
Date of Appointment : |
23.10.2013 |
|
DIN No.: |
01797850 |
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|
|
|
Name : |
Mr. Abhimanyu Jhaver |
|
Designation : |
Director |
|
Address : |
New No. 9/2 Old No. 5, 3rd Avenue Boat Club Road, Raja
Annamalaipuram Chennai – 600028, Telangana, India |
|
Date of Appointment : |
25.03.2015 |
|
DIN No.: |
02330095 |
|
|
|
|
Name : |
Mr. Amar Singh Mehta |
|
Designation : |
Additional Director |
|
Address : |
54, Gujarat Vihar, Laxmi Nagar (East Delhi), Gandhi Nagar,
Delhi – 110092, India |
|
Date of Appointment : |
06.02.2018 |
|
DIN No.: |
00030694 |
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|
|
|
Name : |
Mr. Ajay Srivastava |
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Designation : |
Additional Director |
|
Address : |
X-47, DLF, Phase-II, Gurugram – 122002, Haryana, India |
|
Date of Appointment : |
24.10.2017 |
|
DIN No.: |
00049912 |
KEY EXECUTIVES
|
Name : |
Mr. Amit Agarwal |
|
Designation : |
Chief Financial Officer |
|
Address : |
304 Parivar Apartments, I.P. Extension, Delhi – 110092,
India |
|
Date of Appointment : |
27.05.2014 |
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PAN No.: |
AACPA2350B |
|
|
|
|
Name : |
Mr. Anoop Singh Gusain |
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Designation : |
Company Secretary |
|
Address : |
C-455, Modipon Colony, Modinagar, Ghaziabad – 201204,
Uttar Pradesh, India |
|
Date of Appointment : |
08.02.2013 |
|
PAN No.: |
AJYPG1881C |
SHAREHOLDING PATTERN
AS ON March 2018
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
(A) Promoter
& Promoter Group |
2356980 |
65.40 |
|
(B) Public |
1246926 |
34.60 |
|
Grand Total |
3603906 |
100.00 |
Statement showing shareholding pattern of the Promoter
and Promoter Group
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
A1) Indian |
|
0.00 |
|
Individuals/Hindu
undivided Family |
45161 |
1.25 |
|
Bharat Hari
Singhania |
7852 |
0.22 |
|
Raghupati
Singhania |
2544 |
0.07 |
|
Harsh Pati
Singhania |
744 |
0.02 |
|
Vikrampati
Singhania |
744 |
0.02 |
|
Sunanda Singhania |
9000 |
0.25 |
|
Vinita Singhania |
903 |
0.03 |
|
Anshuman
Singhania |
693 |
0.02 |
|
Shrivats
Singhania |
94 |
0.00 |
|
Anshuman
Singhania (Karta of Shripati Singhania) |
11172 |
0.31 |
|
Bharat Hari
Singhania (HUF) |
3420 |
0.09 |
|
Raghupati
Singhania (HUF) |
1200 |
0.03 |
|
Harsh Pati
Singhania (HUF) |
3420 |
0.09 |
|
Vikrampati Singhania
(HUF) |
3375 |
0.09 |
|
Any Other
(specify) |
2311819 |
64.15 |
|
Bengal and Assam
Company Limited |
799533 |
22.19 |
|
Accurate Finman
Services Limited |
100 |
0.00 |
|
Nav Bharat
Vanijya Limited |
100 |
0.00 |
|
BMF Investments
Limited |
100 |
0.00 |
|
Florence
Investech Limited |
1500000 |
41.62 |
|
Hari Shankar
Singhania Holdings Private Limited |
11986 |
0.33 |
|
Sub Total A1 |
2356980 |
65.40 |
|
A2) Foreign |
|
0.00 |
|
A=A1+A2 |
2356980 |
65.40 |
Statement showing shareholding pattern of the Public shareholder
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
B1) Institutions |
0 |
0.00 |
|
Mutual Funds/ |
243 |
0.01 |
|
Financial
Institutions/ Banks |
268 |
0.01 |
|
Insurance
Companies |
30 |
0.00 |
|
Sub Total B1 |
541 |
0.02 |
|
B2) Central
Government/ State Government(s)/ President of India |
0 |
0.00 |
|
Central
Government/ State Government(s)/ President of India |
9 |
0.00 |
|
Sub Total B2 |
9 |
0.00 |
|
B3)
Non-Institutions |
0 |
0.00 |
|
Individual share capital
upto INR 0.200 million |
521087 |
14.46 |
|
Individual share
capital in excess of INR 0.200 million |
136944 |
3.80 |
|
Bahubalibhai
Shantilal Shah |
115615 |
3.21 |
|
Any Other
(specify) |
588345 |
16.33 |
|
Alchemist Capital
Limited |
105000 |
2.91 |
|
Alchemist
Holdings Limited |
104528 |
2.90 |
|
Edgefield
Securities Limited |
217749 |
6.04 |
|
Bodies Corporate |
312875 |
8.68 |
|
Overseas
Corporate Bodies |
217749 |
6.04 |
|
Non-Resident
Indian (NRI) |
26985 |
0.75 |
|
HUF |
30610 |
0.85 |
|
Trusts |
126 |
0.00 |
|
Sub Total B3 |
1246376 |
34.58 |
|
B=B1+B2+B3 |
1246926 |
34.60 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in research and
development, production, processing and marketing of Hybrid
Seeds in major agricultural field and vegetable crops. [Registered
Activity] |
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Products / Services
: |
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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
|
Suppliers : |
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Customers : |
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No. of Employees : |
410 (Approximately) [As on 2017] |
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Bankers : |
·
Axis Bank Limited ·
State Bank of Mysore ·
Yes Bank Limited |
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Facilities : |
NOTES: LONG TERM BORROWINGS 1. Corporate loan of INR 95.000 million (Previous year INR 135.000 million) taken from bank is secured by second charge on the entire current assets of the company viz., stocks and book debts, etc., both present and future, first charge on the entire fixed assets of the Company including land at Dundigal village, Telangana and Land at Ranpur, Kota Rajasthan, excluding certain specified assets. It is further secured by Hypothecation of entire intangible assets of the Company including the Brand and Patents. It is repayable in, 4 equal installments of INR 12.500 million each in FY 2018 and 3 equal installments of INR 15.000 million each in FY 2019. 2. Term loan of INR 13.909 million (Previous year INR 13.909 million) taken from Biotechnology Industry Research Assistance Council (BIRAC) is secured by First Charge on movable properties of the Company including its movable Plant and Machinery, spares, tools and accessories and other movables, both present and future (Except Book debts) and is repayable in 10 equal half yearly installments of INR 1.390 million each commencing from October, 2017. SHORT
TERM BORROWINGS 1. Working Capital borrowings are Secured by hypothecation of entire current assets viz stocks and book debts etc., both present and future, of the Company and by a second charge on entire fixed assets of the Company including land at Dundigal village, Telangana and Ranpur, Kota, (Rajasthan) and excluding certain specified Fixed assets. |
|
Auditors : |
|
|
Name : |
Lodha and Company Chartered Accountant |
|
Address : |
12, Bharat Singh Marg, New Delhi – 110001, India |
|
Tel. No.: |
91-11-23710176 / 237101777 / 23364671 / 23364671 / 2414 |
|
Fax No.: |
91-11-23345168 / 23314309 |
|
E-Mail : |
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|
Memberships : |
Not Available |
|
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Collaborators : |
Not Available |
|
|
|
|
Associates : |
· Florence Investech Limited · Bengal and Assam Company Limited |
|
|
|
|
Other Related parties
where Directors are interested : |
· Pushpawati Singhania Research Institute |
CAPITAL STRUCTURE
AS ON 31.03.2018
Authorised Capital : NOT AVAILABLE
Issued, Subscribed & Paid-up Capital : INR 36.039 Million
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14000000 |
Equity Shares |
INR 10/- each |
INR 140.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3603906 |
Equity Shares |
INR 10/- each |
INR 36.039 Million |
|
|
|
|
|
Details of
Shareholder who held more than 5% of Equity Share
|
Name of Shareholder |
As at 31.03.2017 No. of Shares held |
|
Bengal and Assam Company Limited |
799533 |
|
Florence Investech Limited |
1500000 |
|
Edgefield Securities Limited |
217749 |
Reconciliation of
number of share outstanding - Equity Share
|
Name of Shareholder |
As at 31.03.2017 No. of Shares held |
|
Shares outstanding as at the beginning of
the year |
3603906 |
|
Add: Pursuant to Scheme of Arrangement and Demerger |
-- |
|
Less: Bought back during the year |
-- |
|
Shares outstanding as at the end of the year |
3603906 |
Terms/right attached to equity shares:
a. The Company has only one class of equity shares having par value of INR 10 per share. Each holder of equity shares is entitled to one vote per share.
b. In the event of winding up the equity shareholders will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportionate to the number of equity shares held by the shareholders.
c. The Dividend proposed by the Board of Directors is subject to the approval of shareholders in the ensuing Annual General Meeting except in the case of interim dividend.
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
36.039 |
36.039 |
36.039 |
|
(b) Reserves & Surplus |
827.715 |
730.889 |
610.009 |
|
(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) |
863.754 |
766.928 |
646.048 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
25.489 |
86.990 |
245.749 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
5.956 |
0.000 |
|
(c) Other long term
liabilities |
8.670 |
2.312 |
2.567 |
|
(d) long-term
provisions |
14.114 |
27.325 |
31.182 |
|
Total Non-current
Liabilities (3) |
48.273 |
122.583 |
279.498 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
382.765 |
219.645 |
264.862 |
|
(b) Trade
payables |
932.388 |
845.382 |
602.142 |
|
(c) Other
current liabilities |
782.617 |
780.684 |
649.596 |
|
(d) Short-term
provisions |
11.279 |
10.110 |
17.038 |
|
Total Current
Liabilities (4) |
2109.049 |
1855.821 |
1533.638 |
|
|
|
|
|
|
TOTAL |
3021.076 |
2745.332 |
2459.184 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
261.045 |
179.989 |
188.705 |
|
(ii)
Intangible Assets |
98.568 |
89.592 |
81.932 |
|
(iii)
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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
99.340 |
0.000 |
8.168 |
|
(d) Long-term Loan and Advances |
4.283 |
119.469 |
111.124 |
|
(e) Other Non-current
assets |
1.087 |
0.016 |
0.015 |
|
Total Non-Current
Assets |
464.323 |
389.066 |
389.944 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1341.790 |
1124.982 |
976.798 |
|
(c) Trade
receivables |
1081.961 |
1021.972 |
815.259 |
|
(d) Cash
and cash equivalents |
46.851 |
53.043 |
40.563 |
|
(e)
Short-term loans and advances |
25.890 |
155.199 |
234.473 |
|
(f) Other
current assets |
60.261 |
1.070 |
2.147 |
|
Total
Current Assets |
2556.753 |
2356.266 |
2069.240 |
|
|
|
|
|
|
TOTAL |
3021.076 |
2745.332 |
2459.184 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
2023.394 |
1929.792 |
1887.699 |
|
|
|
|
Other Income |
5.464 |
5.632 |
14.257 |
|
|
|
|
TOTAL |
2028.858 |
1935.424 |
1901.956 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
1091.089 |
974.310 |
844.957 |
|
|
|
|
(Increase) / decrease in inventories of finished goods work-in-progress and Stock-in-Trade |
(191.468) |
(135.750) |
(20.274) |
|
|
|
|
Employee Benefits Expenses |
299.252 |
274.509 |
264.389 |
|
|
|
|
Other Expenses |
556.136 |
546.088 |
571.370 |
|
|
|
|
TOTAL |
1755.009 |
1659.157 |
1660.442 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
273.849 |
276.267 |
241.514 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES |
80.918 |
77.582 |
110.596 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
192.931 |
198.685 |
130.918 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION |
27.532 |
38.406 |
40.094 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
165.399 |
160.279 |
90.824 |
||
|
|
|
|
|
|
||
|
Less |
TAX |
45.538 |
39.399 |
10.650 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
119.861 |
120.880 |
80.174 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
F.O.B value of exports |
NA |
116.446 |
83.114 |
|
|
|
|
Other |
NA |
0.000 |
2.671 |
|
|
|
TOTAL EARNINGS |
NA |
116.446 |
85.785 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Seeds |
NA |
53.848 |
45.022 |
|
|
|
|
Consumables & Spare Parts (R & D) |
NA |
0.052 |
1.906 |
|
|
|
TOTAL IMPORTS |
NA |
53.900 |
46.928 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (INR) |
|
|
|
||
|
|
-
Basic |
33.26 |
48.12 |
36.33 |
||
|
|
-
Diluted |
33.26 |
33.54 |
22.25 |
||
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Maturities of Long term debt |
NA |
58.759 |
72.368 |
|
Cash generated from operations |
NA |
376.976 |
152.857 |
|
Net cash from operating activities |
NA |
345.102 |
127.147 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
195.17 |
193.30 |
157.64 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
1.87 |
1.89 |
2.32 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
311.91 |
316.70 |
260.11 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.20 |
0.25 |
0.25 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.76 |
1.02 |
0.89 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.71 |
0.73 |
0.75 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.47 |
0.48 |
0.90 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.44 |
2.42 |
2.37 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.42 |
0.35 |
0.42 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
3.38 |
3.56 |
2.18 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
5.92 |
6.26 |
4.25 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
3.97 |
4.40 |
3.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
13.88 |
15.76 |
12.41 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.21 |
1.27 |
1.35 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.58 |
0.66 |
0.71 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.29 |
0.28 |
0.26 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
11.33 |
10.14 |
16.18 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.21 |
1.27 |
1.35 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10.00/- |
|
Market Value |
INR 1458.00/- |
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
36.039 |
36.039 |
36.039 |
|
Reserves & Surplus |
610.009 |
730.889 |
827.715 |
|
Net
worth |
646.048 |
766.928 |
863.754 |
|
|
|
|
|
|
Long-Term Borrowings |
245.749 |
86.990 |
25.489 |
|
Short Term Borrowings |
264.862 |
219.645 |
382.765 |
|
Total
borrowings |
510.611 |
306.635 |
408.254 |
|
Debt/Equity
ratio |
0.790 |
0.400 |
0.473 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
1887.699 |
1929.792 |
2023.394 |
|
|
|
2.230 |
4.850 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
1887.699 |
1929.792 |
2023.394 |
|
Profit/(Loss) |
80.174 |
120.880 |
119.861 |
|
|
4.25% |
6.26% |
5.92% |
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 |
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 |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOANS:
|
PARTICULARS |
31.03.2018 INR
In Million |
31.03.2017 INR
In Million |
|
LONG TERM
BORROWINGS |
|
|
|
Council of Scientific & Industrial Research |
NA |
29.472 |
|
Bengal & Assam Company Limited |
NA |
0.000 |
|
|
|
|
|
Total |
NA |
29.472 |
|
NOTES: LONG TERM
BORROWINGS a) Unsecured loan of INR 36.840 million (Previous year INR 44.208 million) taken from CSIR is repayable in 5 equal yearly
installments of INR 7.368 million each. b) Unsecured loan of INR 125.000 million during previous year, taken from M/S. Bengal &
Assam Company Limited (A Related Party) has been paid. |
||
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G51308914 |
100118030 |
IDFC BANK LIMITED |
28/07/2017 |
- |
- |
200000000.0 |
KRM TOWER, 7TH FLOOR, NO. 1,HARRINGTON ROAD, CHETPET,CHENNAITA600031IN |
|
2 |
G78002847 |
80066066 |
AXIS BANK LIMITED |
06/07/2012 |
29/01/2018 |
- |
670000000.0 |
CORPORATE BANKING BRANCH, 6-3-879/B, FIRST FLOORGREENLANDS ROAD, BEGUMPETHYDERABAD TG 500016IN |
|
3 |
C73729675 |
80066067 |
BIOTECHNOLOGY INDUSTRY RESEARCH ASSISTANCE COUNCIL |
30/05/2011 |
10/12/2015 |
- |
22075600.0 |
MTNL BUILDING, 1ST FLOOR,9 CGO COMPLEX, LODI ROADNEW DELHIDL110003IN |
|
4 |
G53205340 |
10451495 |
STATE BANK OF MYSORE |
03/10/2013 |
22/06/2015 |
12/09/2017 |
250000000.0 |
CORPORATE ACCOUNTS BRANCHF-6, UPPER GROUND FLOOR, EAST OF KAILASHNEW DELHIDL110065IN |
|
5 |
C78263589 |
10399647 |
YES BANK LIMITED |
31/12/2012 |
- |
14/01/2016 |
150000000.0 |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLI,MUMBAIMH400018IN |
FIXED ASSETS:
Tangibles Assets
· Land
· Building
· Plant and Equipment’s
· Furniture and Fixtures
· Office Equipment’s
· Vehicles
Intangibles Assets
· Brand
· 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 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 67.83 |
|
|
1 |
INR 91.68 |
|
Euro |
1 |
INR 80.29 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
YES |
|
--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.