MIRA
INFORM REPORT
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Report Date : |
15.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
IDMC
LIMITED |
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Formerly Known As : |
INDIAN
DAIRY MACHINERY COMPANY LIMITED |
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Registered Office : |
Plot
No. 124-128, GIDC Estate, Vithal Udyognagar
388 121, Dist. Anand, Gujarat, India |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
14-09-1992 |
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Com. Reg. No.: |
04-18283 |
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CIN No.: [Company
Identification No.] |
U29299GJ1992PTC018283 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BRDI00332D |
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PAN No.: [Permanent
Account No.] |
AAACI4631E |
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Legal Form : |
A
Closely Held Public Limited Liability Company |
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Line of Business : |
Engaged
in the business of manufacturing of equipments and dairy plant. |
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
1250000 |
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Status : |
Good |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
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Comments : |
Subject
is a well established company having satisfactory track. Trade relations are
fair. Financial position is satisfactory. The company is subsidiary of National Dairy Development
Corporation. The
company is doing well although profit margin is under severe pressure. It can
be considered good for any normal business dealing at usual trade terms. |
LOCATIONS
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Registered Office : |
Plot
No. 124-128, GIDC Estate, Vithal Udyognagar
388 121, Dist. Anand, Gujarat, India |
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Tel. No.: |
91-2692-
236375/229917 –23 |
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Fax No.: |
91-2692-236580
/ 236164 |
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E-Mail : |
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Website : |
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Regional
Office : |
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Factory
1 : |
Plot
No. C-1/11-12, GIDC Estate, Vithal Udyognager 388 121, Dist. Anand, Gujarat,
India Phone
: 91-2692-236064 Plot
No. 124-128, GIDC Estate, Vithal Udyognagar
388 121, Dist. Anand, Gujarat, India Phone
:91-2692- 236375/229917 –23 Plot
No 606-608, GIDC Estate Vithal Udyognagar 388121, Dist. Anand, Gujarat, India
Phone
: 91- 2692- 22927 – 29 Plot
No.94-97, GIDC Estate Vithal
Udygonagar 388 121, Dist. Anadn, Gujarat, India Phone
: 91-2692- 236495 / 231179 Plot
No 443-B, GIDC Estate Vithal Anand, Gujarat India |
DIRECTORS
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Name : |
Dr.
Amrita Patel |
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Designation : |
Chairman
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Name : |
Mr. D
.Tukku |
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Designation : |
Director |
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Name : |
Mr. S.
R. Lyer |
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Designation : |
Director |
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Name : |
Mr. H.
C. Virmani |
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Designation : |
Director |
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Name : |
Mr. V.
D. Joshi |
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Designation : |
Director |
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Name : |
Mr. N.
K. Ramachandran |
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Designation : |
Additional
Director |
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Name : |
Mr.
Anil Shenoi |
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Designation : |
Additional
Director |
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Name : |
Mr.
Mahesh Chandra |
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Designation : |
Managing
Director |
BUSINESS DETAILS
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Line of Business : |
Engaged
in the business of manufacturing of equipments and dairy plant. |
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Products : |
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PRODUCTION
STATUS
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Particulars |
Unit |
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Actual Production |
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Equipment |
Nos. |
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343000 |
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Bulk milk cooling tank |
Nos. |
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69000 |
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SS Fitting |
Nos. |
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55278000 |
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Pumps |
Nos. |
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526000 |
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Plant hear exchangers |
Nos. |
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120000 |
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Component, spares and accessories |
Nos. |
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6737000 |
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Polyfilm |
Kgs. |
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128531000 |
GENERAL
INFORMATION
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Bankers : |
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Facilities : |
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Banking Relations : |
Good |
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Auditors : |
C. C.
Chokshi & Company Chartered
Accountants 31.
Nutan Bharat Society, Alkapuri, Baroda-390007 |
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Tel. No.: |
91-
265 2333776 |
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Fax No.: |
91-265-2339729 |
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E-Mail : |
CAPITAL STRUCTURE
Authorised
Capital :
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No.
of Shares |
Type |
Value |
Amount |
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15000000 |
Equity
Shares |
Rs. 10/- each |
Rs. 150.000 millions |
Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
|
12144544 |
Equity
Shares |
Rs 10/- each |
Rs. 121.445 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
121.445 |
121.445 |
51.400 |
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3] Reserves & Surplus |
216.285 |
211.083 |
88.800 |
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NETWORTH |
337.730 |
332.528 |
140.200 |
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LOAN FUNDS |
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1] Secured Loans |
557.768 |
375.694 |
280.800 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
557.768 |
375.694 |
280.800 |
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DEFERRED TAX LIABILITIES |
5.042 |
5.945 |
8.400 |
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TOTAL |
900.540 |
714.167 |
429.400 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
322.092 |
119.756 |
120.100 |
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Capital work-in-progress |
144.815 |
278.172 |
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INVESTMENT |
5.510 |
5.510 |
51.900 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
3.700 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
246.525
|
148.159 |
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Sundry Debtors |
218.949
|
273.666 |
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Cash & Bank Balances |
10.565
|
9.635 |
460.900 |
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Other Current Assets |
0.130
|
0.128 |
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Loans & Advances |
136.120
|
86.945 |
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Total Current Assets |
612.289
|
518.533 |
460.900 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
172.336
|
197.569 |
207.200 |
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Provision |
11.830
|
10.235 |
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Total Current Liabilities |
184.166
|
207.804 |
207.200 |
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Net Current Assets |
428.123
|
310.729 |
253.700 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
900.540 |
714.167 |
429.400 |
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PROFIT
& LOSS ACCOUNT
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PARTICULARS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
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Sales Turnover [including other income] |
739.113 |
518.222 |
416.800 |
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Profit/(Loss)
Before Tax |
4.299 |
2.244 |
7.500 |
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Provision
for Taxation |
0.903 |
(1.318) |
1.800 |
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Profit/(Loss)
After Tax |
5.202 |
0.926 |
5.700 |
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Export
Value |
59.253 |
69.984 |
NA |
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Import
Value |
248.087 |
282.876 |
NA |
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Total
Expenditure |
734.814 |
515.978 |
409.300 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
PAT / Total Income |
(%) |
0.703
|
0.178 |
1.367 |
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Net
Profit Margin (PBT/Sales) |
(%) |
0.581
|
0.433 |
1.799 |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
0.396
|
0.243 |
1.178 |
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Return
on Investment (ROI) (PBT/Networth) |
|
0.007
|
0.006 |
0.053 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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2.196
|
1.754 |
3.480 |
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Current
Ratio (Current
Asset/Current Liability) |
|
3.324
|
2.495 |
2.224 |
LOCAL AGENCY
FURTHER INFORMATION
Fixed Assets :
- Land
- Building, Road and Housing
Property
- Plant and machinery
- Electric installation
- Furniture and fixture
- Office Equipment and Air
Conditioner
- Computer
- Vehicle
- Solar Power Systems
Project Engineering
Turnkey project engineering and project execution is a key
business area of the Company's operation since its inception. In the recent years,
the company has made forays in project execution in the pharmaceutical,
refrigeration, beverages and food processing sectors. The expertise in project
engineering coupled with excellent infrastructure facilities for fabrication
has established the company as a major player in the turnkey project
engineering and execution for dairy, beverage, pharmaceutical and refrigeration
industries.
During the year under review, the Company executed dairy expansion
projects from 3 LLPD to 3.5 LLPD at Vadodara. from 10 KLPD to 20 KLPD at
Karaikal and from 60KLPD to 100 KLPD at Tumkur. The Company installed a 20 KLPD
pasteurisation plant and clean-in-place system at the Delhi Milk Scheme and
milk pouch packing system at Mother Dairy, Pilkhuva.
The Company is also executing turnkey dairy projects of 60 KLPD
capacities at Sikar, expansion of Godhra Dairy from 2 LLPD to 4 LLPD, ice cream
plant expansion at Bangalore from 3 KLPD to 10 KLPD, and expansion of Jaipur
Dairy.
The company has executed refrigeration projects for Kanakpura chilling
centre, expansion of refrigeration plant at Tumkur Dairy and Mehsana Dairy. The
expansion of the refrigeration plant at Mother Dairy's ice cream plant at New
Delhi is under progress. The company is executing a heat pump project to recover
sensible heat from the refrigeration plant at Mother Dairy. Delhi.
In the pharmaceutical sector, the company executed turnkey projects
including sterile piping for reputed pharmaceutical firms. The company has
executed a turnkey plant for a major ayurvedic formulation company that would
enable them to process Chywanprash, Janamghutti, lal tel and Hajmola.
The company has executed a large fruit processing plant of 12 TPH
capacity at Bangalore, consisting of fruit handling, fruit processing and packaging,
steam generation, air handling system, refrigeration, product and process
piping. The company has also installed and commissioned a finish syrup
preparation section for a fruit juice processing plant at Vijaywada.
Projects abroad were also executed for a sugar syrup plant in Bangladesh
and a refrigeration plant for a cold store in Sri Lanka.
Fabrication Shop
The Company's fabrication shop manufactured process equipment for dairy,
food processing, pharmaceutical, beverage and brewery Industries. The
fabrication shop produces high quality fabricated stainless steel equipment. Up
gradation of the technical capabilities of fabrication shop is an on-going
activity.
The fabrication shop manufactured equipment for the dairy sector.
Stainless steel milk storage tanks, milk silos of 30KL and 60KL capacities,
cream and ghee storage tanks, ghee boiler, storage tanks for clean in place
systems, funnel venturi, butter trolleys, curd milk and lassi storage tanks,
etc. were fabricated. Raw syrup tanks, ready syrup tanks and juice blending
tanks for beverage plants were also manufactured.
The fabrication shop also manufactured equipment for the pharmaceutical
industry and these include harvesters, dissolution and solvent vessels for
fermentation plants, fermenters of 3 KL, 10 KL and 60 KL capacities, sterile
reactors, clean in place systems, blending vessels, mixing and storage vessels,
I. V. fluid sterilises, etc. The company manufactured extraction vessels,
purified water storage tanks for a pharmaceutical grade soft gelatine
manufacturing company. The fabrication shop also fabricated mixing, heating and
cooling equipment and storage tanks for an ayurvedic formulation unit.
The fabrication shop manufactured sorbitol storage tanks of 50 KL
capacity for a toothpaste manufacturing company. The Company also manufactured
stainless steel fabricated equipment, CIP systems, dosing tanks for the brewery
sector. Equipment manufactured at the fabrication shop were also exported to
Bangladesh, Ugada and Nigeria.
Machine Shop
It has been the company's endeavour to create a state of the art machine
shop where sanitary stainless steel fittings are manufactured. The major
products are stainless steel plug valves, butterfly valves, pneumatic valves,
non return valves, pipe clamps and holders, inline strainers, sight glass,
sampling cocks, bends, tees, etc.
Besides supplies to the domestic market, the products are being exported
to Europe on a regular basis. These export products are customer specific and
need great precision. The company's products have gained acceptance in markets
abroad.
In order to maintain and increase the market-share of the company's
products, the technical capability of the machine shop is upgraded
periodically. Improvement and modification of the existing products and
introduction of new products in the manufacturing range is an on-going activity
at the machine shop.
The company is also manufacturing sanitary centrifugal, self priming
pumps and lobe pumps. The pumps manufactured have gained acceptance in the
domestic market and the market-share is on the increase. Pump parts
manufactured by the company are also exported. In addition to pump and pumps
parts, turbo blenders, agitators, blenders and jet mixers are also manufactured
at the machine shop.
Bulk Milk Cooler Division
In technical collaboration with M/s Ro-Ka Industry A/S, Denmark, the
company has been manufacturing bulk milk cooling tanks for the domestic market
and is now a major player in this business. Milk cooling tanks of 500 L, 1000 L
and 2000 L capacities are manufactured at the company's facility. Milk cooling
tanks of 3000 L and 5000 L are imported from its collaborators.
During the year under review, 104 bulk coolers were supplied to various
cooperative milk unions in the country. The major orders were executed for milk
unions of Gujarat and Tamil Nadu.
The bulk coolers business requires good after sales service to save the perishable milk from deterioration. The company has formed a team of service engineers to attend to the service calls at various locations across the country. Two bulk cooler service centres equipped with repair tools, spare parts, accessories and kits have also been setup.
The bulk milk cooling tank business saw stiff competition from domestic players. This necessitated a review of production costs, greater indigenisation of components, changes in work methods, etc. All these activities are receiving the company's continued attention.
Engineering Design
The company's design group has contributed immensely, not only in the
manufacture of the existing range of machinery and equipment, but also in the
development of new products.
The engineering design group is also working on the standardisation of
technical specifications and design. Skid mounted designs are under development
for pasteurisation modules, clean in place systems, mix preparation,
de-aeration, sugar syrup preparation and similar other systems. This will
greatly reduce the installation time at project sites.
Over a period of years, the design group has greatly contributed to its
performance in supplies to the pharmaceutical and ayurvedic formulation
sectors. Automated clean in place systems, fermenters, reactors, biotech mobile
vessels, WFI storage vessels, process vessels were designed for reputed
companies.
In the process of catering to multifarious industries, the company has
acquired expertise in creating design that conforms to good manufacturing
practices in the pharmaceutical sector. Designing vessels in terms of various
international codes is competently handled by the design group and clients have
come to
have a greater confidence in the technical capabilities of the company.
The company's design group is equipped with the latest engineering
software and the requisite hardware backup there-for. A new design graphic and
3D pipeline software have been acquired to enhance its capabilities.
Sales and Marketing
While the business environment continued to open up in the
pharmaceutical and food sectors, the competition was fierce. The marketing
group netted an order booking of Rs. 793.30 Million, a growth of 30% over the
previous year.
The company received orders for expansion jobs in the dairy industry.
Pasteurisers, chillers and components business also contributed to the healthy
order booking. The company received good orders for centrifugal and self
priming pumps. Several new customers from cooperative and private sector were
added; orders for 160 numbers bulk milk coolers of various capacities were
received during the year.
The company received orders for new and expansion of refrigeration
plants in dairies. Several orders were received for plate heat exchanger based
condensers and evaporators. The company received orders in refrigeration for
marine application, chilled water system for fruits and vegetable processing,
package chillers, heat pump and up-gradation of refrigeration system in
breweries.
The competition in plate heat exchangers continues to be difficult, but
the company managed to receive orders for large plate heat exchangers for the
power sector and infrastructure projects. The company is now one of the key
layers in the plate heat exchanger market for the power sector and industrial
applications.
The company received orders for fruit processing plant, syrup preparation
and blending section, juice handling line for the beverage sector, etc. The
orders booked in breweries have been less than expected.
The company has established itself as reputed equipment and module
supplier in the pharmaceutical and biotechnology segments. Orders were received
from large and reputed pharmaceutical companies for fermenters, reactors,
sterile piping, specialised water treatment system and mobile vessels. The
company also received orders for a sterilise for intravenous fluid applications.
An order for ayurvedic formulation plant on turnkey basis was also received and
executed. Besides, the company received orders for the supply of special
vessels fabricated from stainless steel and used for critical applications.
Export orders were received for pharmaceutical vessels, sterile piping,
juice preparation and blending vessels, syrup-line and bulk coolers from
Bangladesh, Uganda, Nigeria, Nepal and Yemen, etc. Orders have also been
received from European companies for stainless steel valves, fittings and
components.
The spares and service group lent support to the existing customers and
helped the company generate revenue in the spare parts business. To increase
the awareness about the Company's products and engineering capabilities, the marketing
group participated in the Chemtech Pharma exhibition in Mumbai during the year.
Product Development
Business in the capital goods sector has become extremely competitive.
The reduction in the rate of customs duties has also aggravated the situation.
All these factors have necessitated establishment of a product development
group within the company. This group is assigned with the responsibility of
creation of indigenous cost effective equipment and process to meet the needs
of the customers. The products developed during the year under review include:-
- Compact
high-pressure crate washer
- Direct
coupled turbo blender
- Sanitary
safety valve
- Aseptic
sampling cock
- Compact
non return valve
- Level
gauge fittings with sampling cock
- Butter
churn of 1 KL and 2 KL capacity
The product development group is also responsible for quick transfer of
know-how from its collaborators from design to manufacturing).
Refrigeration
The company has a technical collaboration with Grasso GmbH, Germany for
the assembly of screw compressor packages. During the year under review, the
Company imported bare screw compressors and integrated them into a complete
module. The group also marketed ammonia refrigerant pumps from Th. Witt GmbH,
Germany.
The refrigeration group also contributed to the design and marketing of
various refrigeration projects, which include the projects at Valsad Dairy,
Tumkur Dairy, Kanakpura Chilling Centre and Mehsana Dairy, expansion of the
refrigeration plant at Mother Dairy, New Delhi and a 210 TR capacity
refrigeration plant for a brewery in Karnataka.
On the export front, the refrigeration group designed a 200 TR (at -30
degree Celsius) refrigeration plant for a cold storage in Sri Lanka.
Plate Heat Exchanger
The manufacture of plate heat exchangers of your Company is a
specialised and key business area. The Company has a technical tie-up with
SondexA/s, Denmark for the manufacture of plate heat exchangers. During the
year under review, plate heat exchangers were supplied to the dairy, food, beverage,
brewery, pharmaceutical, power, marine and chemical industrial sectors. The
Company is also supplying vaporators and condensers for the refrigeration
industry.
The plate heat exchanger group of the company manufactured milk
chillers, milk pasteurizers, cream milk pasteurizers, ice cream mix chillers,
DM water coolers, ammonia condensers and evaporators for dairy plants in the
cooperative, private and government sectors. The plate heat exchanger
manufactured by the company is well accepted in the dairy industry.
The company had supplied plate heat exchangers to various reputed
pharmaceutical companies in India. Plate heat exchangers were also supplied to
the beverage sector for syrup heating and cooling applications, fruit juice
pasteurisation and sterilization.
The company is a major player in plate heat exchangers used for the
power generating sector. Some of the leading customers are NTPC, BHEL, Larsen
and Toubro Ltd, BARC and NPCIL. The Company has supplied plate heat exchangers
for some of the critical applications in this sector.
Brazed welded and free flow heat exchangers were also supplied to
customers during the year.
Poly Film Plant
The company has made forays in the packaging industry. A state of the
art 550 kg/hour 3-layer blown film line and a 400 metre/minute Cl gearless
flex-opress has been installed at Vithal Udyognagar industrial estate. The
machinery and equipment has been imported from Windmoller & Holscher KG,
Germany who are the leading manufacturers of plastic making machinery in the
world. The machinery imported is the first of its kind in India.
The blown film plant has been commissioned and is now in operation. The
film manufactured and printed at this plant will be used for packaging milk and
other food products. The quality of the film manufactured at this plant and the
colour printing capabilities of the flexo printing press will greatly enhance
the packaging standards employed in the milk and food packaging industries in
the country.
History
IDMC
Limited is a wholly owned subsidiary of National Dairy Development Board
(NDDB). IDMC was incorporated as a private limited company on September 14,
1992.
IDMC was
set up in the year 1978 to manufacture equipments and dairy plants to set up by
NDDB under operation flood project.
IDMC is
now a large equipment manufacturing and project engineering company in India in
the field of dairy, food processing, brewery and beverage, refrigeration and
pharmaceutical industries. IDMC is supplying international quality dairy plants
and equipments to the Indian dairy industry. The company also undertakes
turnkey execution of projects, fabrication and manufacturing of equipments and
plant and component for domestic and exports market.
The key
activities of IDMC are outlined as under :
- Project engineering, process
automation, design, supply of equipment installation, testing and
commissioning of project for dairy, food beverage, brewery plant and
pharmaceutical industries.
- Project engineering, design,
procurement, installation, testing and commissioning of services such as
refrigeration plant steam generation and distribution, electrical
installation, water soft water, chilled water distribution and are
distribution etc.
- Process equipment design and
manufacturer for the above industries as per the international standards
- Manufacturing of flow
equipment including SS fittings, valves, pneumatically operated process
valves and SS pumps of sanitary design.
- Design and manufacturing of
plate heat exchangers for dairy, food beverage, brewery refrigeration,
industrial applications and marine.
- Marketing of process
equipment and packaging machines / lines under agency agreement with
reputed manufactures in Europe and USA.
Fabrication
shop
IDMC is
having a fabrication shop of 4500 sq. meter covered area. This workshop is
exclusively used for the fabrication of stainless steel process equipment. The
fabrication shop is one of the best in country for stainless stell equipment
and well equipped with material handling facility; plate bending and rolling
machines, hydraulic press shearing machine. It has qualified workforce of 175
persons in two – shift operation
The
equipment like tanks, road milk tankers, process vessels, fermentation
equipment, CIP system heating and cooling equipment, plate heat exchangers, ice
cream mix preparation equipments juice processing plants, cheese equipment and
other related equipment are manufactured here.
Machine
shop
IDMC has
set up a state of the art machine shop,
which consists of 12 nos. CNC machines, conventional milling, grinding,
drilling and general purpose machines. This shop is used for production of SS
Fittings, valves, bends, pneumatic valves, spray, tank top filling, ball feets,
pneumatic actuators centrifugal and self priming pumps etc. additional CNC
turning and machining facilities are being created here in immediate future.
Project
engineering and execution
IDMC is
executing project on turnkey basis including project designing, project
execution, installation and commissioning in the field of dairy, food,
beverage, brewery, pharmaceutical and other relates industries. The project
engineering group undertakes the detailed engineering, design process and
product piping, installation of the services like boiler plant water handing
system etc. the project –engineering group is equipped with latest design
package and having 60 engineers and technicians who are capable for undertaking the project from concept to the
turnkey execution. The automation group is using PLC or DCS system to implement
the automation in process plants.
Refrigeration
Project Execution
The
refrigeration group undertakes design and engineering and installation and
commissioning of refrigeration project. IDMC is assembling screw compressor
package, chillier package by using screw compressors from Grasso Gmbh, Berlin
under a technical collaboration agreement. Grasso Compressors are known for
their high efficiency performance, low power consumption and maintenance free
and noiseless operation. IDMC also designs and manufactures plate type
condenser and evaporator, ice silo, convention refrigeration equipment like
accumulator, condenser and ice bank system.
Ployfilm
Plant
A state of the arit, 500 kg /hour, 3-layer
film line and a 400 meter / minute Ci gearless flexopress imported form wind
moller and holscher KG, Germany, has been set up to meet the packaging material requirement of liquid milk and other
products. This state of the art plant is capable of producing 3600 MT/ year,
high quality film.
Agency
marketing
IDMC is
also marketing equipments from European manufacturer such as Homogenizer, Ice
cream making and packaging equipments, Butter making and packaging systems etc.
Manpower
IDMC has
qualified work force of 350 persons, which includes 50 graduate engineers and
60 diploma engineers in the field of manufacturing production, planning,
engineering design, marketing and after sales service etc.
IDMC is
continuously investing in plant, machinery and other infrastructure to upgrade
its design, engineering and manufacturing facilities. They are emerging as one
of the key companies in the area of its operation.
Technical
collaborations
IDMC is
manufacturing plate type heat exchanger in technical collaborations with Sondex
A/s. Denmark, pumps for sanitary applications (Under technical collaboration
with CSF Inox, Italy), bulk cooling tanks, ice silos (Under technical
collaboration with Tankki, OY, Finland), . They also obtain process knowledge
form reputed companies for specific project.
About
Company
With a
population of over 800 million burgeoning middle class, India is emerging as
one of the largest developing economies in the world.
The new
liberalized environment has seen a rise in consumer expectation for quality
products and services. This has led to a need for a complete reworking of
corporate planning and marketing strategies to ensure stability and success in
this new environment.
With the success of collective co-operative surge to harness the
country’s MILk production, IDMC came into being to manufacture and provide the
necessary support system in terms of engineering infrastructure.
In the face of stiff competition from foreign companies the company has
grown in experience and stature and is recognized as a Forerunner in the
manufacturer and supply a complete range of equipment to hold, store and
manufacture Milk and Milk products.
After successful positioning itself in the Dairy industry, the company
has endeavoured to open up new markets in the modern manufacturing with
emphasis on developing the best solution within the bounds of possibility; the
company is health care and allied industries.
As a supplier of complete / part solutions, the company works in tandem
with its customers and offers supports right from thought to the implementation
of the project. Its professed objective is to provide reliable and high quality
equipments according to the customer requirement and the state of the art, and
to deliver them schedule. Its development department, research and testing
laboratories, modern in house tool equipment making as well as a highly
efficient production and logistic department permanently in action to achieves
these objective
Key to
the company’s success has been access to highly advanced process technology
manufacturing and design and the strong will of the workforce to reach the peak
in all its industries of operation.
From a
modest past
The
history of the Indian of the Indian Dairy Machinery dates back to almost 25
years, In 1978, at Aanad the milk capital of India, National Development Board
set up an assembly shop for pre-project activity towards supply of equipments
Since then, that very fledgling unit has come a long way from being a captive
manufacturer of dairy machinery for NDDB to the present when its has
diversified into highly sophisticated differentiated process industries. Though
wholly owned subsidiary of NDDB, IDMC has carved an enviable niche for its self
as a manufacturer and supplier of high quality equipment, an efficient and
effective project engineering company rendering prompt and effective after
sales services.
To an
encouraging present
The
diversification into different sectors has resulted in considerable expansion
of the company, which now boasts of a highly sophisticated machines shop and a
testing laboratory beside fabrication units and projects engineering. The
testing laboratory is equipped with the latest QC equipment that possesses the
capability conduct Radio testing, Ultrasonic testing, Dye penetration etc. The
rise in demand over the years has seen the setting up of marketing of major
industrial centres in the country which has led personally virtually to the
customer’s doorstep.
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.44.31 |
|
UK
Pound |
1 |
Rs.86.82 |
|
Euro |
1 |
Rs.57.29 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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 |
|