MIRA
INFORM REPORT
|
Report Date : |
29.03.2007 |
IDENTIFICATION
DETAILS
|
Name : |
ADANI WILMAR LIMITED |
|
|
|
|
Registered Office : |
Fortune House, Near Navrangapura Railway Crossing, Ahmedabad-380009,
Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
22.01.1999 |
|
|
|
|
Com. Reg. No.: |
04-35320 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U15146GJ1999PLC035320 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
AHMA01098G |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCA8056G |
|
|
|
|
Legal Form : |
Closely held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Exporters of Vegetable Oils and Fats. |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 7880000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and reported company and a part of Adani
Group. The company is progressing well. Directors are reported as experienced
and respectable businessmen. Trade relations are reported as fair. Business
is active. Payments are usually correct and as per commitments. Fundamentals are strong and healthy. The company can be considered normal for business dealings at usual
trade terms and conditions. The company can be regarded as a promising business partner in a
medium to long run. |
LOCATIONS
|
Registered Office : |
Fortune House, Near Navrangapura Railway Crossing, Ahmedabad-380009,
Gujarat, India |
|
Tel. No.: |
91-79-26565555/ 25555742/ 25555650/ 25555750 |
|
Mobile No.: |
91-9825322580 |
|
Fax No.: |
91-79-25555719/ 25555619/ 20/21 |
|
E-Mail : |
info@adaniwilmar.in, fortune@adaniwilmar.in, exports@adaniwilmar.com |
|
Website : |
|
|
|
|
|
Head Office : |
10th Floor, Shikhar Near Mithakhali Circle, Navrangpura,
Ahmedabad, Gujarat |
|
|
|
|
Factory 1 : |
Navinal Island, Village Ohrub, Taluka Mundra, Kutch, Gujarat-376421 |
|
|
|
|
Factory 2 : |
Tungabhadra, Mantralayam (R.S.), Kurnool District, Andhra
Pradesh-518397 |
|
|
|
|
Factory 3 : |
Silor Road, Kota Jaipur Highway, Bundi, Rajasthan-323001 |
|
|
|
|
Factory 4 : |
J L No.149, Debhog, HPL Link Road, Haldia, District Purba Medlinipur,
West Bengal-721657 |
|
|
|
|
Branches : |
Located at : v Dubai v Andhra Pradesh v Assam v Bihar v Chandigarh v Delhi v Goa v Gujarat v Haryana v Himachal Pradesh v Jammu v Jharkhand v Kerala v Karnataka v Madhya Pradesh v Orissa v Maharashtra v Punjab v Rajasthan v Tamilnadu v Uttar Pradesh v Uttaranchal v West Bengal |
DIRECTORS
|
Name : |
Mr. Gautam S Adani |
|
Designation : |
Chairman |
|
Address : |
Shantivan Farm, B/h, Karnavati Club, Gandhinagar, Sarkhej Highway,
Ahmedabad-380057, Gujarat |
|
Date of Birth/Age : |
24.06.1962 |
|
Date of Appointment : |
22.01.1999 |
|
|
|
|
Name : |
Mr. Rajesh S. Adani |
|
Designation : |
Managing Director |
|
Address : |
15, Suryaja Bunglow, Behind Sunrise Park, Near Amaltas Bunglow,
Vastrapur, Ahmedabad-380054, Gujarat |
|
Date of Birth/Age : |
07.12.1964 |
|
Date of Appointment : |
22.01.1999 |
|
|
|
|
Name : |
Mr. Kuok Khoon Hong |
|
Designation : |
Director |
|
Address : |
6, Queen Astrid Gardens, Singapore-266865 |
|
Date of Birth/Age : |
30.04.1949 |
|
Date of Appointment : |
27.02.1999 |
|
|
|
|
Name : |
Mr. Chua Phuay Hee |
|
Designation : |
Director |
|
Address : |
107, Dunbar Walk, Singapore-459416 |
|
Date of Birth/Age : |
28.09.1953 |
|
Date of Appointment : |
28.09.2002 |
|
|
|
|
Name : |
Mr. Kamlesh Kumar |
|
Designation : |
Alternate Director |
|
Address : |
130, Ranjong Rhu Road, # 14-12, Pebble Bay, Singapore-436918 |
|
Date of Birth/Age : |
24.02.1953 |
|
Date of Appointment : |
11.03.2004 |
|
|
|
|
Name : |
Mr. T K Kannan |
|
Designation : |
Alternate Director |
|
Address : |
16, Kaushalya Bunglows, Ramdevnagar, Ahmedabad-380015, Gujarat |
|
Date of Birth/Age : |
03.03.1956 |
|
Date of Appointment : |
28.09.2002 |
|
|
|
|
Name : |
Mr. Martua Sitorus |
|
Designation : |
Additional Director |
|
Address : |
14, Ford Avenue, Singapore-268693 |
|
Date of Birth/Age : |
18.02.1960 |
|
Date of Appointment : |
13.12.2006 |
|
|
|
|
Name : |
Mr. Bhawani Shankar Sahay |
|
Designation : |
Director |
|
Address : |
139, Usha Krishna Apartment, Billekahalli, Sarvom Nagar,
Bangalore-560076, Karnataka, India |
|
Date of Birth/Age : |
01.01.1942 |
|
Date of Appointment : |
30.09.2003 |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh Shroff |
|
Designation : |
Company Secretary |
|
Address : |
604, Vraj Vihar Tower Setellite, Ahmedabad-380015, Gujarat |
|
Date of Birth/Age : |
05.06.1958 |
|
Date of Appointment : |
09.07.2003 |
|
Date of Ceasing : |
01.09.2005 |
|
|
|
|
Name : |
Mr. Jitesh Ladhha |
|
Designation : |
Company Secretary |
|
Address : |
E/303, Vaibhav Apartment, Part II, Near Police Commissioner Office,
Shahibaug, Ahmedabad-380004, Gujarat |
|
Date of Birth/Age : |
17.08.1975 |
|
Date of Appointment : |
01.09.2005 |
|
Date of Ceasing : |
24.11.2005 |
|
|
|
|
Name : |
Mr. Tushar Shah |
|
Designation : |
Company Secretary |
|
Address : |
A/31, Riddhi Apartment, Opposite Municipal Garden, Behind Vasna Bus Stop,
Vasna, Ahmedabad-380007, Gujarat |
|
Date of Birth/Age : |
08.07.1978 |
|
Date of Appointment : |
24.11.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
Percentage of
Holding |
|
Foreign holdings |
|
50.00 |
|
Bodies Corporate |
|
50.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Exporters of Vegetable Oils and Fats. |
|
|
|
|
Products : |
v Edible Oils v Vanaspati v By Products |
PRODUCTION STATUS
|
Particulars |
Unit |
|
Installed
Capacity |
Actual
Production |
|
Seed Crushing |
Metric Tons |
|
308000.000 |
467476.417 |
|
Edible Oil |
Metric Tons |
|
963500.000 |
65672.729 |
|
Vanaspati / Bakery Shortening |
Metric Tons |
|
118625.000 |
93323.196 |
|
Cake |
Metric Tons |
|
Not Applicable |
0.000 |
GENERAL
INFORMATION
|
Suppliers : |
v Golden Harvest v Pragati
Industries v Refoil Earth
Private Limited v Sambhav Polypack v Satia &
Company |
||||||||||||||
|
|
|
||||||||||||||
|
No. of Employees : |
About 5000 |
||||||||||||||
|
|
|
||||||||||||||
|
Bankers : |
v State Bank of
India v Bank of India,
Ahmedabad Corporate Banking Branch, Ahmedabad-380001, Gujarat v Oriental Bank of
Commerce v Punjab National
Bank v Andhra Bank v State Bank of
Saurashtra v State Bank of
Hyderabad v UCO Bank v Bank of Baroda v Canara Bank v Industrial
Development Bank of India v Standard
Chartered Bank |
||||||||||||||
|
|
|
||||||||||||||
|
Facilities : |
Secured Loans
(Rs. In millions) :
|
|
|
|
|
Banking
Relations : |
Good |
|
|
|
|
Auditors : |
|
|
Name : |
Dharmesh A Parikh & Associates Chartered Accountats |
|
Address : |
303, Milestone, Near Drive in Cinema, Opposite T V Tower, Thaltej, Ahmedabad-3800054,
Gujarat, India |
|
|
|
|
Joint Ventures : |
Vihsakha Polylab Private Limited |
|
|
|
|
Associates/Subsidiaries : |
v Wilmar Trading
Pate. Limited v Adani Exports
Limited v Adani Port
Limited v Gujarat Adani
Port Limited v Adani Property Private
Limited v Adani Property
Private Limited v Adani Retail
Limited v B2C India
Limited v Adani Agri Fresh
Limited v Adani Agro
Private Limited v Wilmar
Investment (Mauritius) Limited v Mundra Special
Economic Zone Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
750000000 |
Equity Shares |
Rs.10/- each |
Rs.7500.000 millions |
|
750000000 |
Preference Shares |
Rs.10/- each |
Rs.7500.000 millions |
|
|
Total
|
|
Rs.15000.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
59718216 |
Equity Shares |
Rs.10/- each |
Rs.597.182
millions |
|
72216900 |
Preference Shares |
Rs.10/- each |
Rs.722.169
millions |
|
|
Total |
|
Rs.1319.351 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1319.351 |
1319.351 |
457.200 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
652.691 |
628.534 |
463.900 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1972.042 |
1947.885 |
921.100 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1770.787 |
1654.485 |
1109.900 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
1770.787 |
1654.485 |
1109.900 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3742.829 |
3602.370 |
2031.000 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2792.811 |
2154.316 |
1500.300 |
|
|
Capital work-in-progress |
13.808 |
302.445 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
20.115 |
20.165 |
20.100 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3701.350
|
1965.486 |
2553.100 |
|
|
Sundry Debtors |
1030.228
|
781.765 |
447.800 |
|
|
Cash & Bank Balances |
1517.741
|
1593.981 |
1169.500 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
625.999
|
266.604 |
414.300 |
|
Total
Current Assets |
6875.318
|
4607.836 |
4584.700 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
5946.429
|
3477.553 |
3946.800 |
|
|
Provisions |
16.714
|
68.283 |
128.100 |
|
Total
Current Liabilities |
5963.143
|
3545.836 |
4074.900 |
|
|
Net Current Assets |
912.175
|
1062.000 |
509.800 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
3.920 |
63.444 |
0.800 |
|
|
|
|
|
|
|
|
TOTAL |
3742.829 |
3602.370 |
2031.000 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
Sales Turnover |
26802.114 |
20372.192 |
18345.800 |
|
|
Other Income |
2.536 |
59.046 |
1456.500 |
|
|
Total Income |
26804.650 |
20431.238 |
19802.300 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
33.707 |
2.881 |
287.600 |
|
|
Provision for Taxation |
19.475 |
(9.399) |
110.800 |
|
|
Profit/(Loss) After Tax |
14.232 |
12.280 |
176.800 |
|
|
|
|
|
|
|
|
Total Earnings |
1086.290 |
429.210 |
NA |
|
|
|
|
|
|
|
|
Imports : |
|
|
|
|
|
|
Edible Oil |
11850.210 |
9299.660 |
NA |
|
|
Capital Goods |
1.630 |
0.190 |
NA |
|
|
Others |
30.910 |
0.000 |
NA |
|
Total Imports |
11882.750 |
9299.850 |
NA |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Manufacturing Expenses |
NA |
NA |
744.900 |
|
|
Administrative Expenses |
NA |
NA |
640.700 |
|
|
Raw Material Consumed |
22866.354 |
17975.666 |
17332.700 |
|
|
Salaries, Wages, Bonus, etc. |
116.956 |
87.198 |
73.000 |
|
|
Payment to Auditors |
0.618 |
0.719 |
NA |
|
|
Interest |
544.699 |
254.607 |
195.300 |
|
|
Insurance Expenses |
35.248 |
26.530 |
NA |
|
|
Power & Fuel |
250.339 |
168.819 |
89.200 |
|
|
Depreciation & Amortization |
NA |
NA |
44.200 |
|
|
Other Expenditure |
2956.729 |
1914.818 |
304.500 |
|
Total Expenditure |
26770.943 |
20428.357 |
19424.500 |
|
KEY RATIOS
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Debt-Equity Ratio |
1.19 |
1.39 |
1.03 |
|
Long Term Debt-Equity Ratio |
1.19 |
1.39 |
1.03 |
|
Current Ratio |
1.09 |
1.08 |
1.09 |
|
TURNOVER RATIOS |
|
|
|
|
Fixed Assets |
9.02 |
9.42 |
14.49 |
|
Inventory |
9.26 |
8.97 |
8.21 |
|
Debtors |
28.97 |
32.96 |
46.50 |
|
Interest Cover Ratio |
1.04 |
1.06 |
2.47 |
|
Operating Profit Margin(%) |
3.12 |
2.27 |
2.87 |
|
Profit Before Interest And Tax Margin(%) |
2.60 |
1.89 |
2.63 |
|
Cash Profit Margin(%) |
0.58 |
0.44 |
1.20 |
|
Adjusted Net Profit Margin(%) |
0.05 |
0.07 |
0.96 |
|
Return On Capital Employed(%) |
21.83 |
16.32 |
32.50 |
|
Return On Net Worth(%) |
1.31 |
1.36 |
24.12 |
LOCAL AGENCY
FURTHER INFORMATION
Contingent
Liabilities
The company creates a provision when there is present obligation as a result
of a past event that probably requires an outflow of resources and a reliable
estimate can be made of the amount of the obligation. A disclosure for a
contingent liability is made when there is a possible obligation or a present
obligation that may, but probably will not, require an outflow of resources.
When there is a possible obligation or a present obligation in respect of which
the likelihood of outflow of resources is remote, no provision or disclosure is
made.
Company’s fixed assets include Land, Building, electrical Fittings,
Plant and Machinery, Furniture, Fittings and Installations, Office Equipments,
Computer Equipments and Vehicles.
Operations
During the year under review, the company has ac hived turnover of
Rs.26.802 millions registering growth of 32% over the previous year, with
increase in operating profit by 116%. After acquiring edible oil processing
units at Bundi, Mantralayam and Haldia as well as expanding capacitites at
Mundera, subject is now an integrated multi locational manufacturing and
distribution hug in the Indian subcontinent. The company has processed a record
volume of 570000 MT of edible oils at its various facilities. Margins have
remained under pressure on account of continued downward price trend in Soya
and Palm oil and highly competitive market due to large addition in Indian
edible oil refining capacities. The increased financial and depreciation outlay
due to capacity acquisitions/ enhancements with resultant higher levels of
current assets, increased international borrowing cost were the key reasons for
the lower net margins.
Industry Review :
The Indian edible oil industry has been undergoing structural changes
and the company has been pioneer in bringing about the sea alignments to cater
to the ever demanding needs of the consumers for better and wide range of
products and eservices in an ever evolving global environment. India is the
world’s fourth largest vegetable oil economy and 3rd largest edible
oil importer with import of more than 5 Million MT per annum. The per capita
consumption of edible oils in India is around 11 Kg., considerably lower than
per capital consumption of developed countries. With steady growth in
population and persona income, Indian per capita consumption has been growing
steadily. A great future for integrated players with efficient global practices
meeting the needs of the emerging Indian consumption can be seen. While the
overall edible oil industry is growing at 5% there is aclear penetration in the
packed segment, which is growing at 16% (A C Nielsen ORG Marg Survey Report
March 2006).
Product and
Marketing
Fortune edible oil is produced in a vacuum sealed, computer controlled
environment, which keeps oil totally untouched by human hands. This results in
a product that is more hygienic and best in quality. With the reach of more
than 0.6 million retail outlets, market presence of the company has been
strengthened across India. Company continues to spend on high visibility
marketing through advertisements on TV, Magazines etc. Distributors and
Retailers are also constantly given rewarding schemes and offers. Fortune has
major presence in various edible oil segments like Soybean, Sunflower, Mustard
and Ground Nut. Fortune coconut oikl launched in December 2005, has been the new
addition to the Fortune Basket. For the 5th consecutive year Fortune
continues to be No.1 edible oil Brand in India with 19% market share
Export Market
Subject’s presence in overseas market is expanding in retail as well as
bulk segment. Subject now exports its oils in Middle East countries and the
East African countries. The company has supplied 1700 MT of Ground Nut Oil to
Red Cross Society, Switzerland. Fortune is now an established brand in
countries like UAE, Kuwait, Quatar, Bahrain, Ghana, Ethiopia, Afghanistan, Sri
Lanka and Sudan. Export Turnover of the company for the year under review has
increased to Rs.1176 millions as against Rs.876 millions achieved during the
previous year.
Acquisition
During the year under review, the company has acquired edible oil
refinery at Haldia, West Bengal, having installed refining capacity of 600TPD.
Haldia Plant is eligible for Sales tax and other incentives. Haldia unit is
catering t North East Indian markets.
Website Details :
Adani Wilmar Limited (AWL) is a joint venture between two
global corporations.
The Rs.
170000 millions, Adani group of India - the leaders in
international trading & private infrastructure, and The US $ 5 billion Wilmar Holdings Pte. Limited
of Singapore - one of the World's largest trader and refiner of edible oils.
Together Adani Group and Wilmar Group have set up India's
first port based refinery in 1999, at Mundra, Gujarat.
Today the Mundra refinery is one of India's largest and most
sophisticated oil refineries. Fortune, Raag and JUBILEE
are the brands under which AWL sells its range of edible oil,
vanaspati and bakery shortening.
In addition to Mundra refinery, AWL also owns refineries at
Bundi [Rajasthan], Haldia [West Bengal] and Mantralayam [Andhra Pradesh]. Its
cumulative refining capacity is more than 3200 Tonnes Per Day (TPD).
The company also has packing operations at Chatral
[Gujarat], Latur [Maharashtra], Jaipur [Rajasthan], Dewas [Madhya Pradesh],
Dharwad [Karnataka] and Cochin [Kerala].
Promoters
Adani Group with its turnover exceeding Rs.170000 millions (US
$ 3.7 billion) in 2005, is one of the fastest
growing corporate houses in India . Its flagship company – Adani Enterprises
Limited (formerly known as Adani Exports Ltd), is one of the largest trading
companies in India with Five Star Trading House status (Highest status
conferred by the Government of India).
Adani Exports trades in nearly 40 commodities in more than
55 countries around the world.
The Group owns a fully functional multi-purpose port at
Mundra in the Gulf of Kutch, Gujarat.
Another Group company Adani Retail Limited is into
retailing, and has opened 55 super stores in Gujarat known by the name of Adani
Supermarkets.
The Group has also set up a BPO in Ahmedabad, iCall India
Limited which caters to both International and Domestic clients.
Adani Group is also involved in infrastructure development
which includes developing a Natural Gas distribution project building a
township and an SEZ at Mundra.
Adani Group has emerged as an integrated and diversified
group with leadership in the areas of global trading, edible oil manufacturing
and infrastructure development.
Wilmar
Holdings
Wilmar Holdings is one of the world's largest trader and
refiner of edible oils. With consolidated sales of US $ 5 billion in 2005, the group is:
v The
largest palm oil refiner, palm kernel crusher and specialty fats manufacturer
in Indonesia
v The
largest exporter of palm and lauric oils, palm kernel expeller and related
products in Indonesia
v The
largest soyabean crusher in China.
v
The group's global sourcing capability, cost effective
processing, extensive distribution network and logistics capability, including
its own fleet of tankers, allows it to respond quickly to changes in market
conditions and deliver products on a timely basis to its customers.
Exports
AWL’s Export division was started in 2004, and their exports
markets are the Middle East Countries, South-East Asian Countries, Ghana,
Ukraine, etc. and their exports products are:
FORTUNE
BRAND
v Refined
Sunflower Oil
v Refined
Soyabean Oil
v Refined
Groundnut Oil
v Refined
Sesame Oil
v Kachi
Ghani – Pure Mustard Oil
RAAG
BRAND
v Vegetable
Ghee / Vanaspati
FORTUNE
MASTERCHEF
v Specialty
fats / Bakery Shortening
AWL refined oils meets the CODEX standards – WHO and FAO standards. It also
meets the standards set by AOCS. They have also applied for HACCP and ISO9001
certification.
Fortune brand is registered in all Middle East Countries and
Fortune Refined Soyabean Oil is registered with Foods and Drugs Board, Ghana.
They were the first to launch Soyabean oil in a packed form
in Middle East Countries. Today they have distributors set all across Middle
East Countries, covering all A / B class outlets. They are listed in major key
accounts like Geants, Lulu, Carrefoure, Spinneys, etc. They are also listed
with American Group of companies like – KFC, Pizza Hut, Hardees, Burger King, California
Gardens, etc.
Export
Packaging
For
Soft Oils
Liner
Carton 200
ml
Pet
Bottle 200
ml, 1 ltr, 2 ltr, 3 ltr, 5 ltr
HDPE
Jar 5
ltr, 20 ltr
MS
Barrels and Flexitanks are also available
For
Vegetable Ghee
HDPE
Jar/Barni 5
ltr, 16 ltr
Tins
5 kg, 15 kg,
16 kg
For
Bakery Shortening
Bag in
Box 15
kg, 20 kg
Products
Fortune
v Refined Soyabean Oil
v Refined Sunflower Oil
v Refined Cottonseed Oil
v Refined Groudnut Oil
v Kachi Ghani Mustard Oil
v Pure Groundnut Oil
v Pure Mustard Oil
v Pure Coconut Oil
v Naturelle Pure Coconut Oil
Raag
v Vanaspati
v Refined Soyabean Oil
v Pure Mustard Oil
Jubliee
v Bakery Shortening
v Refined Cooking Oil
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 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.43.59 |
|
UK Pound |
1 |
Rs.85.53 |
|
Euro |
1 |
Rs.58.14 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
70 |
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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|