MIRA
INFORM REPORT
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Report Date : |
01.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
KADAM DAIRY EQUIPMENT PRIVATE LIMITED |
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Registered Office : |
612, Vakil Nagar, Erandawana, Pune – 411 004, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
29.09.1994 |
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Com. Reg. No.: |
1122002884 |
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CIN No.: [Company
Identification No.] |
U15147PN1994PTC081565 |
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IEC No.: |
3101005264 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEK06150E |
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PAN No.: [Permanent
Account No.] |
AAACK7643Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and Exporters of Dairy Equipments, Chemicals, Pharmaceuticals
and Food Processing. |
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 14000 |
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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 is a well – established and reputed company having
satisfactory track. Trade relations are fair. Business is active. Payments
are reported as usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Mugutrao Shankar Kadam |
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Designation : |
Managing Director |
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Contact No.: |
91-9371311709 |
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Date : |
01.03.2008 |
LOCATIONS
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Registered Office : |
612, Vakil Nagar, Erandawana, Pune – 411 004, Maharashtra, India |
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Tel. No.: |
91-20-25448796 |
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Mobile No.: |
91-9371311709 |
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Fax No.: |
91-20-25448796 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory : |
Plot No. L -73, Addl, MIDC, Satara – 415 004, Pune, Maharashtra, India |
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Tel. No.: |
91-2162-247540 |
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Fax No.: |
91-2162-247540 |
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E-Mail : |
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Area : |
15000 sq.fts |
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Location : |
Leased |
DIRECTORS
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Name : |
Mr. Mugutrao S kaDAM |
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Designation : |
Director |
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Address : |
612 Vakil Nagar Erandawane, Pune – 411 004, Maharashtra, India |
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Date of Birth/Age : |
21.03.1950 |
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Qualification : |
MSC. LLB , CAIIB |
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Name : |
Mrs. Sou Bharati M Kadam |
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Designation : |
Director |
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Address : |
612 Vakil Nagar Erandawane, Pune – 411 004, Maharashtra, India |
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Date of Birth/Age : |
05.10.1952 |
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Qualification : |
BA, LLB |
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Name : |
Mr. Arjun S Kadam |
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Designation : |
Director |
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Address : |
New MIDC, Satara, Pune,
Maharashtra, India |
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Date of Birth/Age : |
01.06.1954 |
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Qualification : |
M Com |
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Name : |
Mr. Balkrishna S Kadam |
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Designation : |
Director |
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Address : |
New MIDC, Satara, Pune,
Maharashtra, India |
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Date of Birth/Age : |
01.06.1952 |
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Qualification : |
M.Com |
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Name : |
Mr. Rajendra P Kadam |
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Designation : |
Director |
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Address : |
New MIDC, Satara, Pune,
Maharashtra, India |
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Date of Birth/Age : |
21.03.1970 |
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Qualification : |
DME |
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Name : |
Mr. Umesh P Kadam |
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Designation : |
Director |
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Address : |
New MIDC, Satara, Pune,
Maharashtra, India |
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Date of Birth/Age : |
19.11.1973 |
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Qualification : |
BE, MECH |
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Name : |
Mr. Jaywant S Kadam |
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Designation : |
Director |
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Address : |
New MIDC, Satara, Pune,
Maharashtra, India |
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Date of Birth/Age : |
04.07.1975 |
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Qualification : |
BE PROD. |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Mugutrao S Kadam |
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8450 |
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Mrs. Sou Bharati M Kadam |
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5500 |
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Mr. Arjun S Kadam |
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3450 |
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Mr. Balkrishna S Kadam |
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4200 |
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Mr. Rajendra P Kadam |
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2900 |
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Mr. Umesh P Kadam |
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2450 |
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Mr. Jaywant S Kadam |
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2450 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Dairy Equipments, Chemicals, Pharmaceuticals
and Food Processing. |
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Exports : |
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Countries : |
Nepal , Afghanistan, France, West Africa, Central Africa |
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Terms : |
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Selling : |
L/C, Cash |
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Purchasing : |
Credit, Cash |
GENERAL
INFORMATION
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Customers : |
End users |
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No. of Employees : |
20 (15 in Factory and 5 in Office) |
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Bankers : |
IDBI Bank Address: 27/1, Yogeshwari Apartment, Ganeshnagar, Pune – 411 004,
Maharashtra, India |
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Facilities : |
Rs. 3.000 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. S K Patil Chartered Accountants |
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Address : |
208, Panna Chamber, Off Shivaji Road, Swargate, Pune , Maharashtra,
India |
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Tel No: |
91-20-24480406 |
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Associates/Subsidiaries : |
· Suruchi Food and Milk Products Address: Plot No. L -75, ADDL. MIDC Satara
-415 004, Maharashtra, India Activity: Manufacturer of all types of
Pickles, Sauce, Ketchup, Jam Tutifruity, Etc. · Kadam Engineers Address: Plot No. L-75, ADDL MIDC, Satara
– 415 004, Maharashtra, India Activity: All types fabrication works |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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30000 |
Equity Shares |
Rs. 100/- each |
Rs. 3.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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30000 |
Equity Shares |
Rs. 100/- each |
Rs. 3.000 millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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3.000 |
3.000 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.383 |
0.190 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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3.383 |
3.190 |
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LOAN FUNDS |
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1] Secured Loans |
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4.638 |
1.128 |
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2] Unsecured Loans |
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1.164 |
0.477 |
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TOTAL BORROWING |
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5.802 |
1.605 |
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DEFERRED TAX LIABILITIES |
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0.077 |
0.073 |
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TOTAL |
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9.262 |
4.868 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.427 |
2.602 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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4.106 |
2.019 |
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Sundry Debtors |
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7.198 |
5.875 |
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Cash & Bank Balances |
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0.058 |
0.161 |
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Other Current Assets |
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0.156 |
0.173 |
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Loans & Advances |
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1.106 |
1.407 |
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Total
Current Assets |
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12.624 |
9.635 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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5.603 |
7.140 |
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Provisions |
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0.302 |
0.311 |
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Total
Current Liabilities |
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5.905 |
7.451 |
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Net Current Assets |
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6.719 |
2.184 |
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MISCELLANEOUS EXPENSES |
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0.116 |
0.082 |
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TOTAL |
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9.262 |
4.868 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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13.342 |
8.895 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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13.342 |
8.895 |
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Profit/(Loss) Before Tax |
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0.450 |
0.181 |
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Provision for Taxation |
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0.125 |
0.021 |
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Profit/(Loss) After Tax |
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0.325 |
0.160 |
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Expenditures : |
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Cost of Goods Sold |
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10.213 |
6.312 |
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Manufacturing Expenses |
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0.648 |
0.434 |
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Administrative Expenses |
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0.427 |
0.328 |
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Interest |
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0.668 |
0.612 |
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Depreciation & Amortization |
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0.176 |
0.153 |
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Other Expenditure |
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0.146 |
0.115 |
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Total Expenditure |
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12.278 |
7.954 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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2.44 |
1.79 |
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Net Profit Margin (PBT/Sales) |
(%) |
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3.37 |
2.03 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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2.98 |
1.48 |
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Return on Investment (ROI) (PBT/Networth) |
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0.13 |
0.06 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.46 |
2.84 |
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Current Ratio (Current Asset/Current Liability) |
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2.14 |
1.29 |
LOCAL AGENCY FURTHER
INFORMATION
WEBSITE DETAILS:
Subject is the manufacturers and exporters of Dairy Equipments,
Chemicals, Pharmaceuticals and Food Processing. The company had started its business as
manufacturers of Stainless Steel Equipments and Refrigeration Plants. Soon it developed
Milk
Bulk Coolers at competitive rates and efficient in operation. Not Kadam Dairy
undertakes various turnkey projects of Milk Processing Plants and Effluent Treatment
Plants.
The company deals in projects of Milk Processing Plants of various capacities ranging from 2,000
litre per day to 100,000 litres per day with various bi-products. The company
provides all types of assistance in Dairy field beginning from the project
report to the machinery.
The company is mainly involved in turnkey projects of Effluent Treatment
Plants.
It has recently established methods to tackle various environmental pollution
problems which are generally caused due to the lack of proper treatment methods.
The company offers suitable solutions not only for the treatment of the waste
water problem but it also ensures effective treatment of other colored
effluents discharged by different industries like the Distillery, Dyestuff and
Pharmaceutical, Paper Industries. All the conventional methods of wastewater
treatment are developed on biological principles and primarily designed for the
treatment of domestic sewage.
State-of-the-art facilities are made available along with modernized
infrastructure and machinery. A separate quality control department ensures
stringent quality checks by skilled and experienced quality controllers. The
company benefits from its location in the industrial area which gives support
to develop vendors for ancillary parts required for equipments, plant and
machinery.
The specialty of the innovative methods, services and products offered and
developed by Kadam Dairy simply stands uncomparable. This has enabled the
company to grow vastly and establish a distinct mark in the domestic and
international markets. The company has worked with various multinational
companies, government sectors, private sectors and co-operative sectors.
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.40.53 |
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UK Pound |
1 |
Rs.81.54 |
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Euro |
1 |
Rs.62.40 |
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 |
|
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
|
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 |
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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 |
|
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. |
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 |
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