MIRA
INFORM REPORT
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Report Date : |
24.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
SUGUNA POULTRY FARM LIMITED |
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Registered Office : |
5th Floor, Jaya Enclave, 1057, Avinashi Road, Coimbatore 641 018. |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
23.03.1994 |
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Com. Reg. No.: |
18-4951 |
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CIN No.: [Company
Identification No.] |
U01222T21994PLC004951 |
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IEC No.: |
3295001022 |
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TAN No.: (Tax Deduction & Collection
Account No.) |
CMBS03633A |
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Legal Form : |
Closely Held Public Limited Liability company |
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Line of Business : |
Manufacturing and Selling of Poultry Feeds (in Pellet Form) and Broiler or Processed Chicken. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 2750000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having satisfactory track. Available information indicates satisfactory financial responsibility of the company. Trade relations are fair. Payments are usually correct and as per commitments. The company can be considered normal for business dealing at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
5th Floor, Jaya Enclave, 1057, Avinashi Road, Coimbatore 641 018. |
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Tel. No.: |
91-422-4392503, 5392504, 5392505 |
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Fax No.: |
91 –422- 5392507 |
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E-Mail : |
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Website : |
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Area
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Owned -- 8,000 sq. fts |
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Office |
R S No. 124/3, Thirubhunvani Village, Pondicherry - 605107 |
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Regional Office : |
v
Tamilnadu v
Karnataka v
Maharashtra v
Andhra Pradesh v
West Bengal |
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Corporate Office : |
5th Floor, Jaya Enclave, 1057, Avinashi
Road, |
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Tel. No.: |
91-422-4392503, 5392504, 5392505 |
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Fax No.: |
91 –422- 5392507 |
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E-Mail : |
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Factory 1 : |
Feed unit
v
Kottamangalam,
Udumalpet – 642 126, Coimbatore, Tamil Nadu v
Varatharajapuram,
Udumalpet – 642 126, Coimbatore, Tamil Nadu Meat unit
v
Pallapalayam,
Udumalpet – 642 126, Coimbatore, Tamil Nadu |
DIRECTORS
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Name : |
Mr. B. Soundararajan |
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Designation : |
Managing Director |
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Address : |
F – 24, Parsn Galaxy Apartment,
Nanjundapuram, Coimbatore – 641036 |
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Date of Birth/Age : |
12.04.1961 |
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Experience : |
20 Years |
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Name : |
Mr. G.B. Sundararajan |
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Designation : |
Joint Managing Director |
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Address : |
D –
201, Raheja Enclave, Race Corse Road, Coimbatore – 641018 |
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Date of Birth : |
12.04.1963 |
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Experience : |
23
Years |
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Name : |
Mr. B Ramjee |
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Designation : |
Director |
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Address : |
1 – B, Pioneer Apartment, Avinashi Road,
Coimbatore – 641018 |
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Experience : |
30 Years |
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Name : |
Mr. C N Srivatsan |
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Designation : |
Director |
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Address : |
A – 19, Hallmark, Parsn Sesh Nestle
Apartment, Nanjundapuram, Coimbatore |
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Experience : |
20 Years |
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Name : |
Mr. V Bangarusamy |
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Designation : |
Director |
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Address : |
3-25, Ganapathypalayam, Pulankinar,
Udumalpet, TK – 642122 |
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Name : |
Mr. Pramod Kumar Bhardwaj |
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Designation : |
General Manager (Accounts and Finance) |
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Name : |
Mr. P. K. Kutty |
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Designation : |
General Manager (Layers) |
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Name : |
Mr. Dharmender Bhayana |
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Designation : |
General Manager (Purchase) |
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Name : |
Mr. Krishnakumar. S |
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Designation : |
General Manager, Tamil Nadu Region |
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Name : |
Mr. Ashok Kumar Tyagi |
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Designation : |
General Manager, Karnataka Region |
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Name : |
Dr. Chitti Babu Chala |
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Designation : |
General Manager, Maharashtra Region |
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Name : |
Mr. Sudhir Kumar Babharey |
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Designation : |
General Manager, Andra Pradesh Region |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
No. of Shares |
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Mr. B. Soundararajan |
4634841 |
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Mr. G.B. Sundararajan |
3235333 |
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Mr. R
Vasanthamani |
3465450 |
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Ms. D
Renuga Devi |
2027016 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and Exporter of Rearing Broiler Parent Birds, Producing Hatching Eggs, Commercial Broiler Birds, Poultry Feed and Marketing in the name of Suguna Chicken |
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Product |
200099000 - Meat Product (other than canned) |
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Exports to : |
UAE, Middle East and Malaysia |
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Imports from : |
Germany, Belgium, USA, Malaysia, England, Korea, Thailand, Singapore and Japan |
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Terms : |
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Selling
: |
Documents through Bank and Cash and L/C upto 60 days terms. |
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Purchasing
: |
L/C and Supplier's Cash Upto 90 to 120 days and Cash plus Credit upto 30 days terms |
PRODUCTION STATUS
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
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Meat Plant |
Birds / Days |
4000 |
-- |
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Dressed Meat |
MT |
-- |
234.022 |
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Poultry Feed |
MT |
-- |
48948.403 |
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Broiler Birds |
Nos. |
-- |
4387548 |
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Live Commercial Birds |
Birds per Week |
4.000 |
4.00 |
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Poultry Feed |
Tons |
900000 |
750000 |
GENERAL
INFORMATION
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Customers : |
Wholesalers,
Retailers and Institutions |
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No. of Employees : |
3000 |
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Bankers : |
v State Bank of India, Commercial Branch, 1246, Trichy Road, Coimbatore – 641 018, Tamilnadu v The South India Bank Limited v Vysya Bank Limited v UTI Bank Limited, 84, Radhakrishnan Road, Chennai v ICICI Bank, ICICI Towers, Santhome, Chennai v HDFC Bank, Mariam Centre, Anna Salai, Chennai – 600002 |
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Facilities
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v State Bank of India- Facilities : Rs.250.000 millions v The South India Bank Limited-Facilities : Rs.35.616 millions v Vysya Bank Limited- Facilities : Rs.22.305 millions v UTI Bank Limited- Facilities : Rs.345.000 millions v HDFC Bank - Facilities : Rs.200.000 millions v ICICI Bank - Facilities : Rs.350.000 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
T S Maniam and Associates Chartered Accountants |
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Address: |
63, Sarojini Street, Ram Nagar, Coimbatore – 641009 |
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Tel. No.: |
91-422-5377659 |
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E-Mail.: |
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Associates/Subsidiaries : |
v Suguna Agencies v Suguna Poultry Farms Limited v Suguna Broilers v Supreme Suguna Food Company Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000000 |
Equity
Shares |
Rs.10/- each |
Rs. 250.000 millions |
Issued, Subscribed & Paid-up
Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED BALANCE SHEET
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SOURCES OF FUNDS |
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31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1]
Share Capital |
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150.000 |
150.000 |
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3]
Reserves & Surplus |
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547.504 |
341.026 |
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NETWORTH
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697.504 |
491.026 |
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LOAN
FUNDS |
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1]
Secured Loans |
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1382.877 |
846.353 |
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2]
Unsecured Loans |
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632.818 |
363.447 |
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TOTAL BORROWING
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2015.695 |
1209.800 |
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DEFERRED
TAX LIABILITIES |
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170.609 |
191.191 |
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TOTAL
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2883.808 |
1892.017 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
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924.064 |
815.166 |
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Capital work-in-progress
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|
97.522 |
11.580 |
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INVESTMENT
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46.228 |
25.538 |
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DEFERREX TAX ASSETS
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CURRENT ASSETS, LOANS & ADVANCES
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Inventories
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1500.850 |
1025.712 |
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Sundry Debtors
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469.277 |
135.599 |
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Cash & Bank Balances
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110.994 |
93.619 |
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Other Current Assets
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0.000 |
0.000 |
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Loans & Advances
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239.459 |
155.956 |
Total Current Assets
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2320.580 |
1410.886 |
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Less : CURRENT LIABILITIES &
PROVISIONS
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Current Liabilities
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510.771 |
373.910 |
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Provisions
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0.000 |
0.000 |
Total Current Liabilities
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510.771 |
373.910 |
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Net Current Assets
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1809.809 |
1036.976 |
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MISCELLANEOUS EXPENSES
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|
6.185 |
2.857 |
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TOTAL
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2883.808 |
1892.017 |
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PROFIT & LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
Sales Turnover [including other
income]
|
|
8219.401 |
5593.194 |
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Profit/(Loss) Before Tax
|
|
321.014 |
212.716 |
Provision for Taxation
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|
72.650 |
16.550 |
Profit/(Loss) After Tax
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|
268.947 |
111.782 |
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Export
Value |
|
0.175 |
44.891 |
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Import Value
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100.846 |
44.868 |
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Total Expenditure
|
|
0.955 |
3.766 |
KEY RATIOS
|
PARTICULARS |
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|
31.03.2005 |
31.03.2004 |
PAT / Total Income
|
(%)
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|
3.27 |
1.99 |
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Net Profit Margin
(PBT/Sales) |
(%) |
|
3.90 |
3.80 |
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Return on Total Assets
(PBT/Total Assets} |
(%) |
|
9.89 |
9.55 |
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Return on Investment (ROI)
(PBT/Networth) |
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|
0.46 |
0.43 |
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Debt Equity Ratio
(Total Liability/Networth) |
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3.62 |
3.22 |
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Current Ratio
(Current Asset/Current Liability) |
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|
4.54 |
3.77 |
LOCAL AGENCY
FURTHER INFORMATION
History
:
Suguna
Poultry Product Limited was originally incorporated under the name and style of
Suguna Feeds Private Limited as a Private Limited company and was converted
into a deemed public limited company later.
The name of the company was subsequently changed to
present w.e.f. 4th January, 1999.
Letter w.e.f. 1st April, 2003, the company
Suguna Poultry Product Limited was merged with Suguna Poultry Farm
Limited
It also
acts as processor, importers and exporter of all the above products.
The
Generic Name of the Principals Products / Services of Company (as per monetary
terms) are as under:
Item Code (ITC Code) :
The
company imports medicines, raw materials and chemicals
The
Suguna Poultry Group has entered into a Joint Venture with Supreme Food Company
of Saudi Arabia and have formed a new company called the Supreme Suguna Food
Company Limited by investing Rs.1.920 millions.
The
company is in trade terms with:
v
Bio-Vet
Industries, Shop No. 9, B-Wing Devki Nagar, Eksar Road, Borivali (West), Mumbai
– 400 103
v
Siddaganga
Oil Extractions Limited, Plot No. 1, B. K. Industrial Area, Poona Road, Belagum
– 590 010
v
Ruchin
Soya Industries Limited, 301, Mahakosh House, 7/5, South Tukogani, Indore,
Madhya Pradesh
v
Sakthi
Sugar Limited (Soya Division), 180 Race Course Road, Coimbatore, Tamil Nadu
v
Degussa
AG, Germany
The
company’s fixed assets of important value include land, plant & machinery,
plastic containers, pre fabricated freezer, furniture & fittings, office
equipments, electrical equipments, solar energy devices, building and vehicles
The
group employs around 600 persons in its' set up.
AS PER WEBSITE
Suguna's Success of an Extraordinary Vision
Started in early 90's as a rural enterprise, Suguna Poultry Group rapidly grew
into a corporate entity that has few parallels in history. The success of
Suguna is a glorious testimony of the power of human visionary zeal, innovation,
determination and co-operation. “Poultry Integration” is a concept introduced
and achieved by Suguna. Suguna has been successful in the integration of tens
of thousands of farmers, thereby enhancing their life-styles. Suguna has
steadily and positively grown on its core ideals of Total Quality Management,
constant Innovation, impeccable hygiene and understanding Customer needs.
To further enhance productivity
and market Suguna Products worldwide, the group has entered into partnerships
with leaders of various countries. Suguna has a tie-up with Ross Breeders of UK
for the supply of Grand Parent Chicks. The group also has a joint venture with
Supreme Foods Co. Limited. in the Gulf, which led to the institution of Supreme
Suguna Foods Co. Limited.- an ultra modern chicken processing facility
certified with HACCP and located at Udumalpet.
Vision
To maintain and strengthen a
leadership position in the poultry markets countrywide, ensuring that Suguna
creates value for its customers, farmers, traders, vendors and employees.
Mission
- 25% Market share in India
- 20% Annual Income from Exports
- Switch over consumers from Live Bird to
Processed Meat
- 25% income from Suguna’s branded
prroducts
- Recognizing human values
- Social commitment
Comprehensive Organizational Excellence
Started as a small traditional enterprise, Suguna has grown into a highly
professional Rs. 8130.000 Millions turnover corporate enterprise and offers
products and services that encompass the whole gamut of the Poultry Industry.
Suguna Poultry Group consists of Contract Farms, Broiler Operation Centers,
Poultry Feed Plants, Hatcheries, State-of-the-art Chicken Processing Export
Oriented Units, Regional Establishments and Management Information Systems.
A Glowing example of
Human Excellence
Suguna Poultry Group considers as its core strength, its wealth of human
endeavour and excellence. The group has a wealth of people truly dedicated to
its core ideals and customers. This is amply proven by the fact that an over
whelming majority of the work force has been with the company for years
together. Suguna has also made tens of thousands of direct and indirect
employments. And this has made all the difference.
R&D
- The Vital Ingredient of Constant Growth
Suguna has a highly advanced R&D centre. The centre possesses advanced
state-of-the-art laboratories, R&D equipments, facilities and other
necessary supporting infrastructure.
The centre is engaged in continuous innovation in Feed
Technology, Trial Farms and Quality enhancement of the products. The centre
also regularly develops various methods and programmes to enhance breeders and
farmer's technical performance. Suguna’s Research and Development activities
focus on enriching nutritional values, contributes to birds growth and generates
a long-term profitability for its customers.
Social Welfare
Apart from it’s business, Suguna creates awareness amongst people about social
issues like Tree Plantation. Suguna has been responsible for planting tens of
thousands of trees across the country. This apart, Suguna conducts social
projects on Eye Camp, Blood donation, Limp donation etc.,
MANUFACTURING INFRASTRUTURE
Grant Parent
Suguna has Grand
Parent farms to house, imported world renowned Ross Breeders Chicks. Ross
Chicks fed with Suguna’s high nutritional feed and bred under intensive farm
management, produce hygienic hatching eggs. These hatching eggs are then
hatched to produce quality Parent Chicks.
Parent Stock
Parent Chicks are placed in select parent farms. Suguna’s Parent feed and
intensive farm management result in quality hatchable eggs, which are set in
hygienic hatcheries to produce high quality broiler chicks. These broiler
chicks are distributed to Broiler Farmers across the country.
Broiler Farms
Broiler chicks are placed in various Contract Poultry Farms. Suguna, imparts
technical know – hows, practices in rearing and bird farming. to rear the
birds. Upon maturity, these birds are segregated based on quality and marketed
to customers.
Feed Mills
To cater to the needs of Grand Parent, Parent and Broiler birds, Suguna has
state-of-art pellet mills. Apart from this, Suguna markets Quality Feed to
external markets also.
Meat Processing
Unit
Supreme Suguna Foods Company Limited., 100% EOU, exports processed meat to the
Middle East and other countries. These products viz., Suguies and Tanmia are
ensured to conform to international Quality Standards.
Windmill
Suguna established its own windmill to support the need of its power
consumption. It has 20 windmills across the Tamil Nadu Region. The excess power
generated is being utilized by After Suguna’s own consumption, the remaining
power is sold the to Tamil Nadu Electrical Board.
Awards &
Achievements
Suguna
is Asia’s first poultry organization to have been accredited the ISO 9001: 2000
Certification. Suguna Poultry Group is the proud six time recipient of the
National Productivity Awards in a decade for “excellence in Domestic Broiler
Birds Marketing, Hatching, Eggs Export, Processed Meat Export, Quality
Consciousness, Research & Development and Continual Development of Value
Added Products”.
|
S.No |
Name of the Award |
Year |
Award From |
|
1 |
National
Trade Excellence Award |
1994 -
95 |
The
Minister for - Power, Government of India |
|
2 |
2nd
Best Performance Award |
1995 -
96 |
National
Productivity Council - New Delhi |
|
3 |
International
Excellence in Economic Performance Award |
1996 -
97 |
Greece |
|
4 |
2nd
Best Performance Award |
1997 -
98 |
National
Productivity Council - New Delhi |
|
5 |
2nd
Best Performance Award |
1998 -
99 |
National
Productivity Council - New Delhi |
|
6 |
2nd
Best Performance Award |
1999 -
2000 |
National
Productivity Council - New Delhi |
|
7 |
1st
Best Performance Award |
2000 -
01 |
National
Productivity Council - New Delhi |
|
8 |
2nd
Best Performance Award |
2001 -
02 |
National
Productivity Council - New Delhi |
|
9 |
Vocational
Excellence Award |
2001 -
02 |
Rotary
International |
|
10 |
ISO
9001 : 2000 Certification |
2003 |
BVQI |
Reaching
Out
Reaching
out to the world. Reaching out to the rural segment of the poultry farming
community. Reaching out to embrace new ideologies that will help us set trends
in their areas of expertise. At Suguna, they firmly believe that in reaching
out, they will be able to nurture a faster, more holistic growth.
Reaching out to the farmers
Many farmers in the
rural areas of Udumalpet owe their economic revival to the Integrated Franchise
Farming practices of the Suguna Poultry Group.
Under
its Franchise System of rearing birds, each farmer is fully protected from
risks and is guaranteed a minimum return. In return for the support from us,
the farmers look into all the aspects of bird rearing. They are additionally
supported by medical advice, regular visits by veterinary doctors.
The poultry farming being an allied operation of his core agricultural, hence
most of the rural farmer coming forward for franchise operation. Development of
poultry industry is horizontally develops the cultivation and demand of maize
and Soya, which is the main ingredients of poultry feed, directly contribute
the development of agriculture.
By
creating large rural employment and employment opportunities to the unskilled
and farming community, at Suguna, they truly believe that they have reached out
to the segments that are in most need.
Reaching out to contribute to the economy
- Its contributions to the society is
their ability to provide people quality and protein enriched food products
at the most economical price.
- Through its exports, they have been
able to generate an appreciable flow of exchequer flow.
- Through its own windmill energy, they
have been able to generate their own in-house requirements of power and
thereby optimise costs.
- What Suguna Poultry does to Society is to give
quality and protein enriched value added products at cheapest price.
- What Suguna Poultry does to Farmers is to provide
high and regular income generating opportunity.
- What Suguna Poultry does to Nation is to give rural
employment and indirect employment even the fluctuation in the rainfall.
- What Suguna Poultry does to Exchequer is to inflow
of foreign exchange through exports of poultry products.
- What Suguna Poultry does to Shareholders is to give
regular dividend and provide highest earning per share.
- What Suguna Poultry does to Every body is to give
happiness.
EMERGING
ENTREPRENEUR AWARD
EMERGING
ENTRPRENEUR
Lions Club of Pollachi, in Coimbatore district of Tamilnadu have always been a
fore runner to felicitate the people who have contributed to the society. In
those lines the Lions club decided to honour Mr B.Soundararajan, Managing
Director, Suguna Poultry Farm Limited by felicitating him with EMERGING
ENTREPRENEUR AWARD . The Lions club of Pollachi or ganised a grand function in
the midst of the town on a pleasant Sunday (29.1.05) morning. The gathering was
overwhelmed with joy, that the person who had cared for the rural people is
being felicitated. All those in the Dias praised Mr Soundararajan for the
services being rendered for the Rural community and wished him to continue the
same for years to come and extend the operations into more areas in India.
R.Subrammanian
IBM to implement ORACLE software for SUGUNA
POULTRY
In the first ever integrated implementation
of its kind in the poultry Industry, they have chosen IBM to implement ORACLE
e-business suite. The Oracle applications implementation wil
l be based on IBM Power 5 servers and help their business efficiency and
improve employee productivity.
IBM business consulting services will implement Oracle applications at Nine of
their divisions in Seven states in the Nation.
On completion the technology solution will support their entire itegrated
poultry business from the management of the Grand Parent Stock until the stage
of packaging and marketing
of final product.
Its MD Mr B.Soundararajan is of the view that “Information Technology has
always been an integral part of their growth and with IBM & Oracle
e-business suite they will be better po
sitioned to support their current and future growth.
E-CUBE AWARD FOR MR B.SOUNDARARAJAN
K S R
COLLEGE OF TECHNOLOGY is a fast growing institution in TIRUCHENGODE. Every year
the institution felicitates personalities who have contributed much for the
society. In their
growth path , one of its institutions- K.S.R.SCHOOL OF MANAGEMENT has
inaugurated
a CENTRE FOR CLUSTER STUDIES and on the same occasion they conferred the E-CUBE
Award on four dignitaries who have excelled in their field.
Mr B.Soundararajan , Managing Director, Suguna Poultry Farm Limited has been
chosen
for the field of poultry operations.
The E-Cube Award is born out of the Institute's deep commitment to honor
Entrepreneurs who have contributed much to the Nation's wealth creation in the
domains of Agriculture, Unique business models and Rural empowerment.
The Award function was presided over by Dr Bakul.H.Dholakia, Director, Indian
Institute of Management, Ahemedabad. The Award function was in the campus of
K.S.R.college of Technology , Tiruchengode on 20th Dec, 2005.
A WELL DESERVED HONOR INDEED
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
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.44.65 |
|
UK
Pound |
1 |
Rs.87.23 |
|
Euro |
1 |
Rs.58.96 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong) capability
for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |