MIRA
INFORM REPORT
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Report Date : |
26.04.2007 |
IDENTIFICATION DETAILS
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Name : |
SHANTHI POULTRY FARM PRIVATE LIMITED |
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Registered Office : |
New No. 6/15 (Old No. 191), |
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Country : |
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Financials (as on) : |
-- |
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Date of Incorporation : |
10.04.2006 |
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Com. Reg. No.: |
12707 |
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CIN No.: [Company
Identification No.] |
U01222TZ2006PTC012707 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CMBS03250C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers of Poultry Feeds. |
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 : |
-- |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject has taken over the running business of Shanthi Feeds, a
reputed concern having satisfactory track. 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. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office / Factory : |
New No. 6/15 (Old No. 191), |
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Tel. No.: |
91-422-2634633 / 2634634 / 2634464 |
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Fax No.: |
91-422-2634635 |
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E-Mail : |
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Website : |
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Branches : |
111-B-1, |
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Tel. No.: |
91-4255-2523236/2522209 |
DIRECTORS
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Name : |
Mr. R. Lakshmanan |
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Designation : |
Managing Director |
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Address : |
6/14-A, |
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Date of Birth/Age : |
28.12.1960 |
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Qualification : |
B.Sc. Chemistry |
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Tel. No. |
91-421-2634633 /2634634 |
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Fax No. |
91-421-2634635 |
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E-Mail |
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Other
Directorship : |
SN Agro Farms And Products India Private Limited U01122TZ2001PTC009825 Managing Director Madhan Agro Industries India Private Limited U01409TZ2000PTC009510 Director |
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Name : |
Mrs. L Shanthi |
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Designation : |
Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. R. Lakshmanan |
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250000 |
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Mr. R. Krishnamurthy |
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25000 |
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Mr. K Ramaswamy |
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25000 |
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Mr. R Pavayammal |
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25000 |
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Mrs. L Shanthi |
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125000 |
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Ms. K Vashanthi |
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25000 |
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Mr. J Jayakrishna |
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25000 |
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Total |
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500000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Poultry Feeds. |
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Products : |
·
Soya DOC ·
Maize ·
Poultry Equipments Its’ products range includes:- ·
Poultry Feed Starter ·
Poultry Feed Finisher ·
Poultry Feed Breeder Layer Mash ·
Poultry Feed Males ·
Poultry Feed Growers ·
Poultry Feed Chick Mash ·
Broiler Birds ·
Poultry Feeds |
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Imports : |
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Countries : |
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Terms : |
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Selling : |
Payment on Delivery and Credit (15 days) terms |
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Purchasing : |
L/C terms |
GENERAL INFORMATION
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Suppliers : |
Degussa AG, |
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Customers : |
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Shanthi Hatcheries, ·
Thomsons Poultry, |
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No. of Employees : |
85 |
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Bankers : |
The South Indian Bank Limited Indian Bank, State Bank of Chettipalayam Branch, Kotak Mahindra
Bank Limited 36-38A, Nariman
Bhavan, 227, D. Nariman Point, Mumbai – 400021, |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mrs. Maragatham Chartered Accountant |
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Address : |
7/26, Varadarajapuram, Near |
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Associates/Subsidiaries : |
Ř
Shanthi Hatcheries, Ř
Shanthi Poultry Farms, Ř
Shanthi Enterprises, Ř
Ashwin Poultry Farms India Private Limited, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs. 100/- each |
Rs. 50.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs. 100/- each |
Rs. 50.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Not available
LOCAL AGENCY FURTHER INFORMATION
As per telecon with Mr. Gunasekaran, Manager, Shanti Feeds taken over by
Shanthi Poultry Farm Private Limited.
BUSINESS
The concern’s hatchery is located in four places away from the villages
in a huge area. In all four units the concern have 110 double settlers each has
the capacity of 34000 eggs. In all the four units the concern have fumigation,
facilities, cold holding rooms, sterilisation area, transport and strict bio
security in maintained stand by generation. All the chicks produced will be
given necessary vaccines before dispatch. The chicks produced by the concern,
are having less mortality and higher growth rate capacity – 1 million chicks
per week maximum.
Poultry Forms
In this division the concern maintain broiler-breeding stock. It has a
separate breeding and growing farm away from the laying farm, which is totally
in isolated area. From zero day onwards the parent chicks are grown in cage
system, so the concern’s chicks are free from many diseases. In the breeding
farm at a time the concern can breed 0.1 million parent chicks as well as the
growing farms also.
It has broiler-laying homes in different location. Each location are
more than 50 acres of land to give more space between each sheds then by
maintaining a good environment to the birds. It kept the laying stocks in the
cage system so hatchability of egg is always above 90% and housing depletion
also below 5%. All the farms have separate supervisors and vetinary doctors.
PRODUCTS
Broiler Birds
Major production of poultry meat comes from broiler poultry meat, also
known as white meat which is of high nutritional value, consumed by all
segments of society as it has an excellent source of animal protein B Complex
vitamins and minerals, especially iron and phosphorus and low in energy
content. It has excellent flavour and fatty acids.
Old Chicks
The concern is growing the parent birds under cage system and producing hatching
eggs by using the technology of using artificial insemination. It hatches the
eggs in their own hatchery equipped with state of art machineries. At present
it is producing Ven Cobb Broiler Chicks.
Poultry Feed
For producing poultry feed the concern have two feed mills, each having
the production capacity of 200 tons per day. It uses the raw materials like
maize, soya, soya oil, etc. after testing the quality of raw materials in its
fully equipped laboratory.
The concern has been accredited with Rashtriya Gaurav Award – 97 for
producing of quality poultry feed from Government of India during the year
1997.
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U01222TZ2006PTC012707 |
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Name of the
company |
SHANTHI POULTRY FARM PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
New No. 6/15 (Old No. 191), |
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Type of charge |
Movable property |
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Particular of
charge holder |
Kotak Mahindra
Bank Limited 36-38A, Nariman
Bhavan, 227, D. Nariman Point, Mumbai – 400021, |
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Nature of description
of the instrument creating or modifying the charge |
Loan guarantee
agreement and agreement scheme |
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Date of
instrument Creating the charge |
29.09.2006 |
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Amount secured by
the charge |
Rs. 1.977
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of interest
10.793 % and 10.786 % Term of repayment
24 month Extent and
operation of the charge The security offered
under this charge shall operate as continuing security until the loan balance
is received by the bank in full. |
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Short particulars
of the property charged |
Eicher Vehicle,
Model 10.90 Goods – 3 Nos. Location of the property : Shanthi Poultry
Farm Private Limited, New No. 6/15 (Old No. 191), |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market survey
revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.57 |
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1 |
Rs.80.97 |
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Euro |
1 |
Rs.55.90 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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45 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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