MIRA
INFORM REPORT
|
Report Date : |
03.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
SUGUNA FOODS LIMITED |
|
|
|
|
Formerly Known
As : |
SUGUNA POULTRY FARM LIMITED |
|
|
|
|
Registered Office : |
5th
Floor, Jaya Enclave, 1057, |
|
|
|
|
Country : |
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|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
23.03.1994 |
|
|
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|
Com. Reg. No.: |
18-004951 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.386.844 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U01222TZ1994PLC004951 |
|
|
|
|
IEC No.: |
3295001022 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CMBS03633A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCS0655F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturing and Selling of Poultry Feeds (in Pellet Form) and Broiler or Processed Chicken. |
|
|
|
|
No. of Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
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 20000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is a well established and a reputed company having fine track.
Financial position of the company appears to be sound. Trade relations are reported
as fair. Business is active. Payments are reported to be regular and as per
commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office / Corporate Office : |
5th
Floor, Jaya Enclave, 1057, |
|
Tel. No.: |
91-422-3073000/
4392503/ 5392504/ 5392505/ 4343000 |
|
Fax No.: |
91-422-3073333/ 5392507 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
8000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Broiler Offices : |
Located at: ·
· Anand · Bengaluru · Pune ·
·
· Orissa · Jaipur ·
Udumalpet ·
·
· Kolkata |
|
|
|
|
Layer Offices : |
Located at: ·
·
· Hospet · Chitradurga · Pune · Mohali · Nammakkal |
|
|
|
|
Parent Stock |
25, |
|
Tel. No.: |
91-4252-3321661/771/881 |
|
E-Mail : |
|
|
|
|
|
Hatching Eggs
Division : |
25, |
|
Tel. No.: |
91-4252-3321661/771/881 |
|
E-Mail : |
|
|
|
|
|
Soya Division : |
Mauza – Thambhari, Village- Wani, N.H.NO.7 ( |
|
Tel. No.: |
91-7153-302400 |
|
Fax No.: |
91-7153-302407 |
|
E-Mail : |
|
|
|
|
|
Corn Division : |
J2/203 Green Wood Regency, Near Wipro Campus, |
|
Tel. No.: |
91-80-32555231 |
|
Fax No.: |
91-80-41508915 |
|
E-Mail : |
DIRECTORS
As on 26.09.2011
|
Name : |
Mr. Bangarusamy Soundararajan |
|
Designation : |
Whole-time director |
|
Address : |
No.7, Rain Tree Shire Parsn Sesh Nestle
Apartments, Nanjundapuram, Coimbatore – 641 036, Tamilnadu, India |
|
Date of
Birth/Age : |
12.04.1961 |
|
Qualification : |
School Level |
|
Date of
Appointment : |
23.03.1994 |
|
DIN No.: |
00063462 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U01222TZ1994PLC004951 |
SUGUNA
FOODS LIMITED |
Whole-time
director |
02-05-11 |
23-03-94 |
- |
Active |
NO |
|
2 |
U74999MH2002NPL137058 |
POULTRY
PROCESSORS' ASSOCIATION OF INDIA |
Director |
06-09-02 |
06-09-02 |
- |
Active |
NO |
|
3 |
U55101TZ2006PLC012813 |
FOUR
WAY RETAIL LIMITED |
Managing
director |
01-06-06 |
01-06-06 |
- |
Amalgamated |
NO |
|
4 |
U67120TZ2006PTC012976 |
SUGUNA
CAPITAL VENTURES PRIVATE LIMITED |
Director |
01-08-06 |
01-08-06 |
- |
Active |
NO |
|
5 |
U24231TZ2006PTC013159 |
GLOBION
INDIA PRIVATE LIMITED |
Director |
18-10-06 |
18-10-06 |
- |
Active |
NO |
|
6 |
U85110TZ2004PTC010914 |
M
AND M MEDICAL CENTRE PRIVATE LIMITED |
Director |
22-02-07 |
22-02-07 |
- |
Amalgamated |
NO |
|
7 |
U00113TZ1996PTC006876 |
DRIZZLE
AGRO FARMS PRIVATE LIMITED |
Director |
24-09-07 |
10-05-07 |
- |
Amalgamated |
NO |
|
8 |
U00113TZ1996PTC006875 |
UZHAVAN
AGRO FARMS PRIVATE LIMITED |
Director |
24-09-07 |
10-05-07 |
- |
Amalgamated |
NO |
|
9 |
U00113TZ1996PTC006878 |
CHERAN
AGRO FARMS PRIVATE LIMITED |
Director |
24-09-07 |
10-05-07 |
- |
Amalgamated |
NO |
|
10 |
U00113TZ1995PTC006782 |
SUGUNA
AGRO PRODUCTS PRIVATE LIMITED |
Director |
10-05-07 |
10-05-07 |
- |
Amalgamated |
NO |
|
11 |
U00113TZ1996PTC006877 |
AMUDHA
SURABI AGRO FARM PRIVATE LIMITED |
Director |
10-05-07 |
10-05-07 |
- |
Amalgamated |
NO |
|
12 |
U65993TZ2008PTC014318 |
SUGUNA
HOLDINGS PRIVATE LIMITED |
Director |
19-03-08 |
19-03-08 |
- |
Active |
NO |
|
13 |
U24239TZ2012PTC017981 |
BOVIAN
HEALTH CARE PRIVATE LIMITED |
Director |
05-03-12 |
05-03-12 |
- |
Active |
NO |
|
Name : |
Mr. Ganapathypalayam Bangarusamy
Soundararajan |
|
Designation : |
Managing Director |
|
Address : |
Site No.4, East End, Kallimadai Road,
Singanallur, Coimbatore – 641 005, Tamilnadu, India |
|
Date of
Birth/Age : |
12.04.1963 |
|
Qualification : |
School Level |
|
Date of
Appointment : |
23.04.2003 |
|
DIN No.: |
00062984 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U00113TZ1996PTC007442 |
SUGUNA
FARMS PRIVATE LIMITED |
Director |
06-09-96 |
06-09-96 |
- |
Amalgamated |
NO |
|
2 |
U01222TZ1994PLC004951 |
SUGUNA
FOODS LIMITED |
Managing
director |
02-05-11 |
23-04-03 |
- |
Active |
NO |
|
3 |
U55101TZ2006PLC012813 |
FOUR
WAY RETAIL LIMITED |
Director |
01-06-06 |
01-06-06 |
- |
Amalgamated |
NO |
|
4 |
U67120TZ2006PTC012976 |
SUGUNA
CAPITAL VENTURES PRIVATE LIMITED |
Director |
01-08-06 |
01-08-06 |
- |
Active |
NO |
|
5 |
U24231TZ2006PTC013159 |
GLOBION
INDIA PRIVATE LIMITED |
Director |
18-10-06 |
18-10-06 |
04-08-10 |
Active |
NO |
|
6 |
U85110TZ2004PTC010914 |
M
AND M MEDICAL CENTRE PRIVATE LIMITED |
Director |
22-02-07 |
22-02-07 |
- |
Amalgamated |
NO |
|
7 |
U00113TZ1996PTC006875 |
UZHAVAN
AGRO FARMS PRIVATE LIMITED |
Director |
24-09-07 |
10-05-07 |
- |
Amalgamated |
NO |
|
8 |
U00113TZ1996PTC006878 |
CHERAN
AGRO FARMS PRIVATE LIMITED |
Director |
24-09-07 |
10-05-07 |
- |
Amalgamated |
NO |
|
9 |
U00113TZ1996PTC006877 |
AMUDHA
SURABI AGRO FARM PRIVATE LIMITED |
Director |
24-09-07 |
10-05-07 |
- |
Amalgamated |
NO |
|
10 |
U00113TZ1995PTC006782 |
SUGUNA
AGRO PRODUCTS PRIVATE LIMITED |
Director |
10-05-07 |
10-05-07 |
- |
Amalgamated |
NO |
|
11 |
U00113TZ1996PTC006876 |
DRIZZLE
AGRO FARMS PRIVATE LIMITED |
Director |
10-05-07 |
10-05-07 |
- |
Amalgamated |
NO |
|
12 |
U65993TZ2008PTC014318 |
SUGUNA
HOLDINGS PRIVATE LIMITED |
Director |
19-03-08 |
19-03-08 |
- |
Active |
NO |
|
13 |
U24239TZ2012PTC017981 |
BOVIAN
HEALTH CARE PRIVATE LIMITED |
Director |
05-03-12 |
05-03-12 |
- |
Active |
NO |
|
Name : |
Mr. Balasubramaniam Ramjee |
|
Designation : |
Director |
|
Address : |
B1, Flat B Block, 1075, Pioneer Apartment,
Avinashi Road, Coimbatore – 641 018, Tamilnadu, India |
|
Date of
Birth/Age : |
12.08.1943 |
|
Qualification : |
ACS |
|
Date of
Appointment : |
09.08.2003 |
|
DIN No.: |
00066535 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U01222TZ1994PLC004951 |
SUGUNA
FOODS LIMITED |
Director |
09-08-03 |
09-08-03 |
- |
Active |
NO |
|
2 |
U55101TZ2006PLC012813 |
FOUR
WAY RETAIL LIMITED |
Additional
director |
13-03-08 |
13-03-08 |
- |
Amalgamated |
NO |
|
Name : |
Mr. Koyambedu Subramani Ramesh |
|
Designation : |
Director |
|
Address : |
No.3, Cedar Wood Apartments, Flat No.11, 4th
Main Road, Ra Puram, Chennai – 600 028, Tamilnadu, India |
|
Date of
Birth/Age : |
13.08.1951 |
|
Qualification : |
MBA |
|
Date of
Appointment : |
15.07.2006 |
|
DIN
No.: |
01259495 |
|
|
|
|
Name : |
Mr. Palanisamy Angamuthu |
|
Designation : |
Whole Time Director |
|
Address : |
6/ 1, Subhdarsan Gardens, Veeriampalayam Road,
Kalapatty, Coimbatore – 641 035, Tamilnadu, India |
|
Date of
Birth/Age : |
24.02.1972 |
|
Qualification : |
B.E., M.B.A. |
|
Date of
Appointment : |
09.12.2009 |
|
Date of
Cessation: |
01.12.2011 |
|
DIN No.: |
02981062 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U01222TZ1994PLC004951 |
SUGUNA
FOODS LIMITED |
Whole-time
director |
30-12-09 |
09-12-09 |
01-12-11 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Hariram R |
|
Designation : |
Company Secretary |
|
Address : |
Old No.39-41, New No.73, Vaniarsteet, JPP Lane, Coimbatore – 641001,
Tamilnadu, India |
|
Date of Birth : |
03.09.1983 |
|
Date of Appointment : |
28.01.2011 |
|
PAN No.: |
AEDPH5356K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.09.2011
|
Names of Shareholders (Equity) |
No. of Shares |
Percentage of
Holding |
|
4166 |
0.028 |
|
|
Anil Dhumal |
1000 |
0.007 |
|
Annadurai S. |
2000 |
0.013 |
|
Arunaben K. Shah |
1333 |
0.009 |
|
K. Jayakumar |
2914 |
0.019 |
|
Kalpesh Shah K. |
1333 |
0.009 |
|
Menon U.K.K. |
8333 |
0.056 |
|
Nailesh Shah K. |
1333 |
0.009 |
|
Neela N. Shah |
1000 |
0.007 |
|
Paresh |
8333 |
0.056 |
|
Ramachandran R. |
19333 |
0.129 |
|
Ramjee B. |
7000 |
0.047 |
|
Ravindran K. |
8333 |
0.056 |
|
Renku K. Shah |
1000 |
0.007 |
|
Selvam Broilers
Limited |
1666 |
0.011 |
|
Shailaja Dhumal |
1000 |
0.007 |
|
Satish Kumar
Mittal |
3333 |
0.022 |
|
Suguna Holdings
Private Limited |
14903795 |
99.359 |
Preference Share Holders
|
Names of Shareholders |
|
No. of Shares |
|
International Finance Corporation |
|
789480 |
|
Total |
|
789480 |
As on 26.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
99.38 |
|
Directors
or relatives of directors |
|
0.07 |
|
Other
top fifty shareholders |
|
0.55 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Selling of Poultry Feeds (in Pellet Form)
and Broiler or Processed Chicken. |
|
|
|
|
|
|
Products : |
Production Description |
ITC Code |
|
Meat Product (other than canned) |
02071100 |
|
|
Poultry Feed |
23099090 |
|
|
Live Poultry |
01059300 |
|
|
Egg |
04070010 |
|
|
Soya Meal |
12081000 |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
T.S. Maniam and Associates Chartered Accountants |
|
Address: |
No. 63, 2nd Floor, |
|
Tel. No.: |
91-422-5377659 |
|
E-Mail.: |
|
|
Pan No.: |
AAEFT0709M |
|
|
|
|
Holding Company : |
· Suguna Holdings Private Limited CIN No.: U65993TZ2008PTC014318 |
|
|
|
|
Wholly owned
subsidiary : |
·
Ocean Feeds Private Limited, Sri Lanka |
|
|
|
|
Associates : |
CIN No.: U67120TZ2006PTC012976
CIN No.: U24231TZ2006PTC013159 |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
34000000 |
Equity Shares |
Rs.10/- each |
Rs.340.000 Millions |
|
800000 |
8.45% Redeemable
Cumulative Convertible Preference Shares |
Rs.300/- each |
Rs.240.000 Millions |
|
|
Total |
|
Rs.580.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 millions |
|
789480 |
8.45% Redeemable Cumulative Convertible
Preference Shares |
Rs.300/- each |
Rs.236.844 Millions |
|
|
Total |
|
Rs.386.844 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 (12 Months) |
31.03.2010 (9 Months) |
30.06.2009 (15 Months) |
31.03.2008 (12 Months) |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
|
|
1] Share Capital |
386.844 |
386.844 |
386.800 |
386.800 |
386.800 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
4638.079 |
3153.799 |
3025.600 |
2461.600 |
2151.800 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
5024.923 |
3540.643 |
3412.400 |
2848.400 |
2538.600 |
|
|
LOAN FUNDS |
|
|
|
|
|
|
|
1] Secured Loans |
6211.964 |
7542.459 |
7498.500 |
4770.500 |
2212.600 |
|
|
2] Unsecured Loans |
17.646 |
1464.166 |
757.700 |
3022.800 |
2123.300 |
|
|
TOTAL BORROWING |
6229.610 |
9006.625 |
8256.200 |
7793.300 |
4335.900 |
|
|
DEFERRED TAX LIABILITIES |
557.974 |
455.962 |
344.200 |
210.800 |
176.600 |
|
|
|
|
|
|
|
|
|
|
TOTAL |
11812.507 |
13003.230 |
12012.800 |
10852.500 |
7051.100 |
|
|
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
6236.572 |
5582.275 |
4562.400 |
2231.800 |
1988.400 |
|
|
Capital work-in-progress |
71.553 |
461.647 |
1412.800 |
1568.200 |
467.700 |
|
|
|
|
|
|
|
|
|
|
INVESTMENT |
51.941 |
92.285 |
199.800 |
205.700 |
125.200 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
|
|
Inventories |
7021.436
|
7035.908
|
6349.500 |
6592.300 |
4756.700 |
|
|
Sundry Debtors |
131.713
|
131.379
|
195.100 |
144.000 |
88.100 |
|
|
Cash & Bank Balances |
419.086
|
358.097
|
384.300 |
502.100 |
85.200 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
1986.363
|
1514.549
|
1655.900 |
1091.300 |
840.900 |
|
Total
Current Assets |
9558.598
|
9039.933
|
8584.800
|
8329.700 |
5770.900 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
|
|
Sundry Creditors |
1121.986
|
1078.422
|
|
|
|
|
|
Other Current Liabilities |
659.972
|
354.204
|
2147.600 |
1106.100 |
846.600 |
|
|
Provisions |
2326.957
|
750.650
|
615.000 |
420.000 |
474.300 |
|
Total
Current Liabilities |
4108.915
|
2183.276
|
2762.600
|
1526.100
|
1320.900
|
|
|
Net Current Assets |
5449.683
|
6856.657
|
5822.200 |
6803.600 |
4450.000 |
|
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
2.758 |
10.366 |
15.600 |
43.200 |
19.800 |
|
|
|
|
|
|
|
|
|
|
TOTAL |
11812.507 |
13003.230 |
12012.800 |
10852.500 |
7051.100 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 (12 Months) |
31.03.2010 (9 Months) |
30.06.2009 (15 Months) |
31.03.2008 (12 Months) |
31.03.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
Income |
37194.157 |
24079.861 |
37971.900 |
20254.700 |
14475.500 |
|
|
|
Other Income |
128.133 |
369.653 |
484.200 |
303.300 |
132.300 |
|
|
|
TOTAL (A) |
37322.290 |
24449.514 |
38456.100 |
20558.000 |
14607.800 |
|
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
Consumption materials changes inventories |
27187.539 |
19088.979 |
29698.500 |
15307.500 |
9911.100 |
|
|
|
Manufacturing service costs |
4172.436 |
2930.064 |
4658.300 |
2962.600 |
2303.600 |
|
|
|
Employee related expenses |
923.139 |
591.795 |
970.200 |
610.900 |
498.700 |
|
|
|
Administrative selling other expenses |
722.314 |
595.341 |
728.900 |
541.600 |
366.700 |
|
|
|
Prior period items before tax |
6.473 |
10.929 |
4.200 |
1.200 |
(1.500) |
|
|
|
TOTAL (B) |
33011.901 |
23217.108 |
36060.100 |
19423.800 |
13078.600 |
|
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4310.389 |
1232.406 |
2396.000 |
1134.200 |
1529.200 |
|
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
600.163 |
584.681 |
1134.800 |
456.300 |
271.300 |
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3710.226 |
647.725 |
1261.200 |
677.900 |
1257.900 |
|
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION
(F) |
354.905 |
311.164 |
339.700 |
182.200 |
137.400 |
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3355.321 |
336.561 |
921.500 |
495.700 |
1120.500 |
|
|
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1871.041 |
120.568 |
328.300 |
165.500 |
275.200 |
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1484.280 |
215.993 |
593.200 |
330.200 |
845.300 |
|
|
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2333.800 |
2239.200 |
1714.200 |
1442.400 |
753.500 |
|
|
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
|
|
Provision for Dividend |
NA |
75.000 |
25.000 |
20.000 |
0.000 |
|
|
|
Provision for Dividend Tax |
NA |
12.800 |
4.200 |
3.400 |
0.000 |
|
|
|
Dividend Paid |
NA |
0.000 |
0.000 |
0.000 |
52.000 |
|
|
|
Dividend Tax Paid |
NA |
0.000 |
0.000 |
0.000 |
7.400 |
|
|
|
Transfer to General Reserve |
227.557 |
33.600 |
39.000 |
35.000 |
85.000 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
2333.800 |
2239.200 |
1714.200 |
1454.400 |
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
|
|
Export of Goods on F.O.B. Basis |
|
32.000 |
27.400 |
27.100 |
14.000 |
|
|
|
Dividend Income |
|
320.800 |
343.000 |
133.000 |
0.000 |
|
|
TOTAL EARNINGS |
NA |
352.800 |
370.400 |
160.100 |
14.000 |
|
|
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
|
Live Poultry |
|
113.900 |
118.300 |
90.500 |
36.700 |
|
|
|
Raw Materials |
|
1571.100 |
2886.000 |
1107.300 |
579.700 |
|
|
|
Packing Material |
|
0.300 |
0.000 |
0.000 |
0.000 |
|
|
|
Capital Goods |
|
32.800 |
16.700 |
7.400 |
6.300 |
|
|
|
Spare Parts |
|
24.900 |
270.600 |
217.800 |
101.400 |
|
|
TOTAL IMPORTS |
NA |
1743.000 |
3291.600 |
1423.000 |
724.100 |
|
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
|
|
- Basic |
149.27 |
13.23 |
37.60 |
19.48 |
55.82 |
|
|
|
- Diluted |
144.12 |
13.68 |
37.57 |
19.97 |
55.33 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 (12 Months) |
31.03.2010 (9 Months) |
30.06.2009 (15 Months) |
31.03.2008 (12 Months) |
31.03.2007 |
|
PAT / Total Income |
(%) |
3.98
|
0.88
|
1.54
|
1.61 |
5.79 |
|
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.02
|
1.40
|
2.43
|
2.45 |
7.74 |
|
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.24
|
2.30
|
7.01
|
4.69 |
14.44 |
|
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.67
|
0.10
|
0.27
|
0.17 |
0.44 |
|
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.06
|
3.16
|
3.23
|
3.27 |
2.23 |
|
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.33
|
4.14
|
3.11
|
5.46 |
4.37 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
No |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last five years |
Yes |
|
12) Profitability for last five years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
PERFORMANCE REVIEW
The company had achieved a turnover of Rs 37194.100 Millions for the Year
of Apr-2010 to Mar-2011. This shows an increase of Rs. 13114.200 Millions over
the achieved turnover of Rs. 24079.900 Millions for the previous period July
2009 to March 2010.
Profit after tax, including exceptional item, for the period was Rs.
2183.600 Millions as against Rs. 216.000 Millions for the previous period July
2009 to March 2010.
NEW
BUSINESS/PRODUCTS
DIET CHICKEN
In the row of consumer products segment, the Company launched Diet Chicken
catering to the need of the diet conscious market. The product is made
available in all leading retail outlets.
NEW FEEDMILL
PROJECT
They have successfully commissioned a Feed Mill plant with a capacity of
producing 1200 MT per day of Pellet Feed in Andhrapradesh near Hyderabad
(Toopran) during Jan 2011. This will cater to the needs of feed requirement of
broiler integration and feed sales activity in that region.
BUSINESS EXPANSION
As part of poultry expansion plan, they have entered into the state of
Assam with broiler integration operations. They have also planned to start
operations in the state of Bihar.
POULTRY SECTOR
OUTLOOK
The annual per capita poultry meat consumption in India has been
increasing from 0.7 kg in 2001 to 2.5 kg in 2010 yet it remains one of the
lowest globally with vast gap even between NIN (National Institute of
Nutrition) recommended levels of 180 eggs and 11 kg of poultry meat per person.
This offers a tremendous opportunity for further integration and growth in industry.
The domestic broiler meat demand is expected to grow at around 10-13%, while
table egg demand is expected to grow at 5-7% in medium to long term.
Poultry meat is primarily sold through fresh markets in India and
consumers prefer to buy live poultry and get it dressed in their presence. The
average poultry purchased is fresh chicken meat, mostly slaughtered in small
establishments with wet markets accounting for nearly 95% of sales. This is due
to the fact that consumers believe such meats are healthy and germ free. A lot
of effort is required to change that attitude and consumer confidence has to be
gained that dressed poultry is hygienic, healthy and from disease-free birds.
Further low penetration of modern retail establishments with back end infrastructure
for freezing has limited the growth of this market
The domestic poultry market size is estimated at more than Rs.
470000.000 Millions and the growth trend is likely to continue for the present
decade as demand has been growing steadily on back of favorable socio economic
factors like healthy GDP growth, rising purchasing power, changing food habits,
and increasing urbanization.
The poultry sector in India has undergone major shift in structure and
operation during last two decades transforming from a mere backyard activity
into a major commercial activity with presence of large integrated players with
successful implementation of contract poultry farming on a large scale. This
transformation involved sizeable investments in breeding, hatching, rearing and
processing activities.
Maize is the primary source of energy for the Indian poultry industry
and constitutes 60% of compound feed, while soybean is the main source of
protein and forms 30-35% of the feed. Maize has remained a relatively small
crop in the country, which has led to supply shortages. Maize is primarily
rain-fed and competes with crops such as wheat and paddy which has assured
prices from the Government. Hence any monsoon failure is a threat for the crop
as was evident in drought year 2009-10, when maize production fell by 12-15%
although it recovered in crop year 2010-11 with an estimated production of 19
million tones. Still maize prices are expected to remain high on back of strong
demand from poultry and starch sector and limited supply available. Poultry
sector consumes 52% of domestic maize production and demand from poultry sector
is expected to outstrip supplies in near future. India needs to double its
maize production in next ten years to meet the growing domestic demand from the
feed industry. In case of soymeal, India manufactures exportable surplus and
hence adequate availability of soymeal is there though prices remain volatile
on back of fluctuation in international prices and domestic production.
FIXED ASSETS
Tangible Assets
- Land
- Building
- Plant and
Machinery
- Furniture and
Fittings
- Computer and
- Accessories
- Vehicles
- Agri
Equipments
Intangible Assets
- Computer
- Software
- Goodwill
WEBSITE
DETAILS:
OVERVIEW:
Over a period of 25 years, Suguna has gone from strength to strength and
has become a Rs. 37200.000 Millions company that makes it India’s No. 1 broiler producer. Along
the way, Suguna’s pioneering efforts in contract farming helped create
thousands of rural entrepreneurs who share the growth successfully.
"Poultry Integration" introduced and pioneered by Suguna in the
country has energized the livelihoods of farmers in rural
Suguna ranks among the top ten poultry companies worldwide. With
operations in 11 states across
Today, the company’s brand Suguna Chicken is a household name in
History
Chairman Mr. B. Soundararajan
and Managing Director Mr. G.B.
Sundararajan saw potential in growing the Indian Poultry Industry
through integration, which later came to be known as Contract Farming. This led
Suguna Poultry to pioneer contract farming in
In 1986, Mr. B. Soundararajan
and Mr. G.B. Sundararajan set up
a poultry farm with 200 layer birds at Udumalpet. During 1989 - 90, when chicken
prices crashed because of an over-supply of birds in the local market, Suguna
saw an opportunity for business growth by helping the poultry farmers who had
bought feed and medicines on credit and could not clear their dues. To help
them recover their money, these visionaries began to provide feed and health
support to indebted farmers in return for the end product - eggs. The success
of this exercise gave birth to the Suguna Integration Model.
The poultry integration model has set a win-win situation for both the
farmer and the integrator. Farmers are provided with day-old chicks, feed and
health support. Performance is monitored on a daily basis with Suguna field
staff visiting the farms to check on the health of the birds, feed intake,
growth and mortality levels. In six weeks time, the birds are weighed and are
ready to be sold by Suguna. Farmers are paid a handsome growing charge for the
birds at the end of this period. Thus, Suguna takes this success model to the
next level vision of energising rural
A constant and relentless drive has taken the company's growth and
expansion which covers over 15,000 farmers from 8,000 villages in 11 Indian
states. Impressed by the model and its success, Suguna receives invitations
from many state governments to set up its operations. Many investors and
delegates from across borders visit Suguna’s facilities to study this model and
later adopt in their own countries.
With mastery and success in contract farming, Suguna has shaped the
poultry industry to its current position in
Milestones
1984 Suguna Group was founded
1991 Introduced new Concept of
contract farming in India
1992 First Hatchery
1993 First Breeder Operation
1998 Semi Automatic Meat
Processing Unit with Cold Storage
1999 Fully Automatic, Micro
Processor Controlled Feed Mill
2000 Inclusion of Grand Parents
2001 Expansion of Operations
into other states
2004 Soya Unit Operation in
Nagpur
2006 Successful implementation
of Oracle ERP systems
2007 Layer launch
2007 Asian Livestock Industry
Award
2007 Daily Fressh and Suguna
value added eggs launch
2008 2008 - Convenience food
launch, Asia's largest feed mill at Hoskote
RECOGNITIONS:
Ever since inception, Suguna has been recognized as an innovative and
successful business organization. From the time Suguna started its first breed
operations till today, it has collected accolades both in India and across the
world.
Some notable
industry recognitions:
Year
Award
1994 - 1995 National Trade
Excellence Award by the Ministry for Power, Government of India
1995 - 1996 2nd Best
Performance Award, National Productivity Council, New Delhi
1997 - 1998 2nd Best
Performance Award, National Productivity Council, New Delhi
1998 - 1999 2nd Best
Performance Award, National Productivity Council, New Delhi
1999 - 2000 2nd Best
Performance Award, National Productivity Council, New Delhi
2000 - 2001 1st Best
Performance Award, National Productivity Council, New Delhi
2001 - 2002 2nd Best Performance
Award, National Productivity Council, New Delhi
2007 Asian Livestock Industry Award,
Malaysia
2010 Entrepreneur of the year, TiE,
Chennai
2011 Asian Poultry Personality,
International Poultry Production, Bangkok
PRESS RELEASES:
Asian Poultry
Personality of 2011
March 9, 2011
Our beloved JMD Mr. G.B.Sundararajan has been conferred with “Asian
Poultry Personality of 2011” award by International Poultry production and VIV
Asia at the Opening ceremony of VIV Asia on 9th March-2011 at Bangkok.
This award was given in recognition with the outstanding services to the
Asian poultry sector by Suguna Poultry. It evidences that Suguna poultry brand
is recognized globally and stands on par with international standards.
SUGUNA - An
International Brand
March 4, 2011
Once again, VIV Asia will showcase a diverse range of exhibitors. The
event's workshops, seminars and conferences, meanwhile, are geared towards
providing info on trends and developments as well as best practices in the
industry, said Ruwan Berculo, Project Manager of Asia-Pacific, VNU Exhibitions.
'The 2011 event will carry three special themes," said Mr. Berculo
who hopes to leverage on VIV's reputation as being the most international B2B event
for global industries for animal production and processing.
"Feedtech-Croptech Asia 2011 is a dedicated event for the
Asia-Pacific milling industries. It will focus on the production of animal
feeds, food and fuel."
1ab@VIV Asia 2011, will look at the feed and food laboratory business in
the Asia-Pacific region while ChinaVisions is an international summit for
Chinese animal production and processing industries," he explained.
Interestingly, VIV Asia 2011 will also incorporate a new trade show
called Aquatic Asia 2011, thanks to the success of Aqua VIV Asia 2007 and 2009,
Mr. Berculo offered.
He feels that more knowledge is needed to create awareness for industry
players. VIV, he thinks, offers that kind of platform.
"Significant investments in quality products need to be made in
order for countries to increase quality as well as food safety, and the volumes
of poultry meat, eggs, fish, pig meat and dairy produced."
Looking at global trends, Mr. Berculo foresees seamless integration in
the agribusiness industries led by retailers, integrators and feed suppliers.
"An integrated approach, from feed to meat, is required to ensure
the production of safe products," he added.
The Cargills, Tesco's, Carrefours, CP's, Betagro's, KFC's, McDonald's
and Suguna's of our world will and have taken the lead already.
"Western (high-quality) suppliers from feed to meat will benefit
from the investment power of these big players who will invest for safer
products.
"The direct suppliers in our industry, except some feed suppliers,
simply do not have enough resources to conquer large emerging markets such as
China and India."
"The issue of importing feed ingredients has already placed huge
pressure on the country's commodities prices. Therefore, I believe, there is a
conflict. As countries develop their animal husbandry sector, they will deplete
the lands that can be used to grow crops to feed large populations."
Mr. Berculo expects 15,000 pre-registrants and a total of 20,000
visitors from some 95 countries for VIV Asia 2011 which will take place from
March 9-11 at BITEC in Bangkok, Thailand.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.93 |
|
|
1 |
Rs.85.85 |
|
Euro |
1 |
Rs.69.94 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
65 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.