MIRA
INFORM REPORT
|
Report Date : |
05.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
TIRUMALA MILK PRODUCTS PRIVATE LIMITED |
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Registered
Office : |
Plot No. 120, Kavuri Hills, Madhapur, Hyderabad-500081, Andhra Pradesh |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
13.11.1998 |
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Com. Reg. No.: |
01-030500 |
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Capital
Investment / Paid-up Capital : |
Rs.261.112
Millions |
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|
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CIN No.: [Company Identification
No.] |
U15209AP1998PTC030500 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in Manufacturing, Processing and Sale of Milk and
Milk Products. |
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No. of Employees
: |
Not Available [We tried to
confirm the number of employees but no one is ready to part any information
from the company management] |
RATING & COMMENTS
|
MIRA’s Rating : |
A (61) |
|
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 |
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Maximum Credit Limit : |
USD 7120000 |
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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 and reputed company having a good track
record. Financially company seems to be strong. Liquidity position is good. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitments. The company can be considered for normal 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
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Very
High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial years
of the contagion but finally lost ground last year. GDP growth slowed down.
Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
A+ [Long Term] |
|
Rating Explanation |
Having adequate degree of safety regarding timely servicing of
financial obligation it carry low credit risk. |
|
Date |
March 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
Plot No. 120, Kavuri Hills, Madhapur, Hyderabad-500081, Andhra
Pradesh, India |
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Tel. No.: |
91-40-40216687 |
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Fax No.: |
91-40-40212408 |
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E-Mail : |
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Website : |
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Admin Office : |
D No. 12-8-8, Prakash Nagar, Narasaraoper, District, Guntur-522601,
Andhra Pradesh, India |
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Tel No.: |
91-8647-232677 |
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Fax No.: |
91-8647-232544 |
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Email : |
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Factory 1 : |
Vellalcheruvu (V), Santhamagular Mandal, Prakasam-523302 District,
Andhra Pradesh, India |
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Factory 2 : |
Singavaram (V), Denduluru (M), West Godavari-534427 District, Andhra
Pradesh, India |
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Factory 3 : |
Gungal (V), Yacharam (M), Rangareddy-501506 District, Andhra Pradesh,
India |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Danda Brahmanandam |
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Designation : |
Director |
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Address : |
# 1399, 4th Street, Golden Colony, Mugappair,
Chennai-600050, Tamilnadu, India |
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Date of Birth/Age : |
12.02.1950 |
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Date of Appointment : |
04.06.2013 |
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Din No.: |
00169372 |
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Other Directorship:
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Name : |
Mr. Battini Nageswara Rao |
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Designation : |
Director |
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Address : |
11-15-8, Ramireddypet, Narasaraopet, District Guntur-522601, Andhra
Pradesh, India |
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Date of Birth/Age : |
15.02.1957 |
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Date of Appointment : |
23.11.2000 |
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Din No.: |
00310639 |
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Other Directorship:
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Name : |
Mr. Nalabothu Venkata Rao |
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Designation : |
Director |
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Address : |
12, Sri Venkateshwara Nilayam, RR Nagar, Pedacheruvu, Narasaraopet,
Guntur-522601, Andhra Pradesh, India |
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Date of Birth/Age : |
01.06.1957 |
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Date of Appointment : |
30.04.2001 |
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Din No.: |
00310724 |
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Other Directorship:
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Name : |
Mr. Bolla Srinivasa Rao |
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Designation : |
Whole Time Director |
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Address : |
12-13-27/A Prakash Nagar Narasaraopet, Null, Guntur-522601, Andhra
Pradesh, India |
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Date of Birth/Age : |
26.08.1982 |
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Date of Appointment : |
04.06.2013 |
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Din No.: |
02439377 |
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Other Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
NOTE: SHAREHOLDING DETAILS FILE ATTACHED.
AS ON 28.09.2012
|
Equity Share Breakup |
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Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
26.38 |
|
Directors
or relatives of directors |
|
73.62 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Manufacturing, Processing and Sale of Milk and
Milk Products. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available [We tried to confirm
the number of employees but no one is ready to part any information from the
company management] |
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Bankers : |
·
The lakshmi Vilas Bank Limited Chennai Main
Branch, 275 Thambu Chetty Street, Chennai – 600001, Tamilnadu, India ·
HDFC Bank Limited, HDFC Bank House Senapati Bapat
Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India ·
ICICI Bank Limited Landmark Race Cource Circle,
Alkapuri, Baroda - 390015, Gujarat, India ·
Andhra Bank Narasaraopet Branch Main Branch,
Narasaraopet - 522601, Andhra Pradesh, India |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
GE Capital Transportation
Financial Services Limited, Aifacs Building, 1, Rafi Marg, New Delhi-110001,
India |
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Auditors : |
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|
Name : |
Bandarupalli Srinivasa Rao Chartered Accountants |
|
Address : |
5-87-129, Main Road, Lakshmipuram, Guntur, Andhra Pradesh, India |
|
PAN No: |
AAEFP9877E |
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|
|
|
Other Related Parties : |
·
Hema Milk Line Private Limited ·
Vigneswara Dairy Private Limited ·
Palnadu Dairy Private Limited ·
Sri Sitarama Dairy Private Limited |
CAPITAL STRUCTURE
AS ON 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25011000 |
Equity Shares |
Rs.10/- each |
Rs.250.110 Millions |
|
7500000 |
Preferences Shares |
Rs.10/- each |
Rs.75.000 Millions |
|
|
TOTAL
|
|
Rs.325.110
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
22969995 |
Equity Shares |
Rs.10/- each
|
Rs.229.700
Millions |
|
2010 |
Differential Equity Shares |
Rs.10/- each
|
Rs.0.020 Millions
|
|
|
TOTAL
|
|
Rs.229.720 Millions |
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25011000 |
Equity Shares |
Rs.10/- each |
Rs.250.110 Millions |
|
7500000 |
Preferences Shares |
Rs.10/- each |
Rs.75.000 Millions |
|
|
TOTAL
|
|
Rs.325.110
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
18611210 |
Equity Shares |
Rs.10/- each
|
Rs.186.112
Millions |
|
7500000 |
Preferences Shares |
Rs.10/- each |
Rs.75.000
Millions |
|
|
TOTAL
|
|
Rs.261.112 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
261.112 |
261.112 |
|
(b) Reserves & Surplus |
|
1521.225 |
1140.232 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
|
1782.337 |
1401.344 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
|
175.114 |
165.284 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
63.225 |
38.767 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
238.339 |
204.051 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
724.908 |
547.341 |
|
(b)
Trade payables |
|
434.105 |
250.343 |
|
(c)
Other current liabilities |
|
210.283 |
160.754 |
|
(d) Short-term
provisions |
|
28.259 |
24.237 |
|
Total Current
Liabilities (4) |
|
1397.555 |
982.675 |
|
|
|
|
|
|
TOTAL |
|
3418.231 |
2588.070 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
1407.305 |
984.829 |
|
(ii) Intangible
Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
59.580 |
91.122 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
3.731 |
3.731 |
|
(c) Deferred tax
assets (net) |
|
0.000 |
0.107 |
|
(d) Long-term Loan and Advances |
|
26.779 |
79.422 |
|
(e) Other
Non-current assets |
|
0.297 |
0.399 |
|
Total Non-Current
Assets |
|
1497.692 |
1159.610 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
1014.142 |
719.936 |
|
(c)
Trade receivables |
|
154.602 |
33.311 |
|
(d) Cash
and cash equivalents |
|
415.433 |
351.711 |
|
(e)
Short-term loans and advances |
|
299.228 |
285.899 |
|
(f) Other
current assets |
|
37.134 |
37.603 |
|
Total
Current Assets |
|
1920.539 |
1428.460 |
|
|
|
|
|
|
TOTAL |
|
3418.231 |
2588.070 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
186.092 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
412.969 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
599.061 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
1125.855 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
1125.855 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1724.916 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
642.857 |
|
|
Capital work-in-progress |
|
|
149.923 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
3.731 |
|
|
DEFERREX TAX ASSETS |
|
|
0.107 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
630.516 |
|
|
Sundry Debtors |
|
|
19.477 |
|
|
Cash & Bank Balances |
|
|
236.089 |
|
|
Other Current Assets |
|
|
11.241 |
|
|
Loans & Advances |
|
|
325.166 |
|
Total
Current Assets |
|
|
1222.489 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
232.613 |
|
|
Other Current Liabilities |
|
|
27.199 |
|
|
Provisions |
|
|
34.392 |
|
Total
Current Liabilities |
|
|
294.204 |
|
|
Net Current Assets |
|
|
928.285 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.013 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1724.916 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
11752.522 |
8344.901 |
5859.097 |
|
|
|
Other Income |
20.528 |
22.597 |
17.349 |
|
|
|
TOTAL (A) |
11773.050 |
8367.498 |
5876.446 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
10975.783 |
7763.903 |
5464.110 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
10975.783 |
7763.903 |
5464.110 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
797.267 |
603.595 |
412.336 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
70.231 |
57.959 |
53.709 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
727.036 |
545.636 |
358.627 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
214.923 |
191.914 |
107.637 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
512.113 |
353.722 |
250.990 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
130.245 |
92.766 |
86.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
381.868 |
260.956 |
164.190 |
|
|
|
|
|
|
|
|
|
Less |
EARLIER YEARS
TAX/REFUND |
0.000 |
0.000 |
0.004 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
637.551 |
377.470 |
352.853 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
38.186 |
0.000 |
0.000 |
|
|
|
Dividend on Preferences Shares and
Dividend Tax |
0.875 |
0.875 |
0.000 |
|
|
|
Allotment of Bonus Shares |
0.000 |
0.000 |
139.569 |
|
|
BALANCE CARRIED
TO THE B/S |
980.358 |
637.551 |
377.470 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
14.62 |
9.99 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.24
|
3.12 |
2.79 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.35
|
4.23 |
4.28 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.26
|
14.19 |
13.45 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.25 |
0.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.50
|
0.51 |
1.87 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37
|
1.45 |
4.15 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 three years |
Yes |
|
12] |
Profitability for last three 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 involved in |
-- |
|
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 |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
INDEX OF CHARGE:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10426371 |
27/04/2013 |
2,926,000.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA,
INDIA |
B75357624 |
|
2 |
10376842 |
11/09/2012 |
2,200,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B58242389 |
|
3 |
10364207 |
25/06/2012 |
32,250,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA,
INDIA |
B43078948 |
|
4 |
10331510 |
30/12/2011 |
23,497,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA,
INDIA |
B30468987 |
|
5 |
10320550 |
12/11/2011 |
5,936,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA,
INDIA |
B26573972 |
|
6 |
10306386 |
21/07/2011 |
21,564,750.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA,
INDIA |
B20592945 |
|
7 |
10267444 |
19/07/2011 * |
488,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA,
INDIA |
B20490348 |
|
8 |
10222438 |
28/05/2010 |
40,000,000.00 |
STATE BANK OF INDIA |
MAIN BRANCH,
MARKET CENTER, NARASARAOPET - 522601, ANDHRA |
A87257440 |
|
9 |
10205187 |
20/01/2010 |
20,000,000.00 |
ANDHRA BANK
NARASARAOPET BRANCH |
MAIN BRANCH,
MARKET CENTER, NARASARAOPET - 522601, ANDHRA |
A80467194 |
|
10 |
10114505 |
07/07/2008 |
30,000,000.00 |
STATE BANK OF
INDIA NARASARAOPET BRANCH |
OLD POLICE
STATION ROAD, NARASARAOPET - 522601, ANDHRA PRADESH, INDIA |
A42728675 |
|
* Date of charge modification |
||||||
NOTE:
The registered office of the company has been shifted from D No. 12-8-8, Prakash Nagar, Narasaraoper, District, Guntur-522601, Andhra Pradesh, India to the present address w.e.f. 01.09.2011.
REVIEW OF OPERATIONS:
During the year,
the company has achieved a turnover of Rs 11752.500 Millions as against Rs
8344.900 Millions of previous year 2010-11. Recording increase of 40.83 % over
the previous year and, profit before tax increased to Rs. 512.100 Millions for
the financial Year, 2011-12, from Rs. 353.700 Millions in financial year
2010-11.
FIXED ASSETS:
·
Land
·
Building
·
Electrical Fittings
·
Vehicles
·
Computers
·
Furniture and Fixtures
·
Air Conditioners
NEWS:
THIRUMALA MILK SETTING UP RS 1000.000 MILLIONS PROCESSING PLANT
APRIL 8, 2013
CONSTRUCTION WORK IS IN PROGRESS AND THE PLANT WILL BE COMMISSIONED IN
A SPAN OF SIX MONTHS
Hyderabad-based Thirumala Milk Products Private Limited (TMPL), in which private equity major Carlyle has invested Rs.1000.000 Millions for a 20 per cent stake, is setting up a 400,000-litre per day capacity milk processing and packaging plant at Melmaruvathur, about 90 km from Chennai.
“The construction work is in progress and the plant will be commissioned in a
span of six months,” TMPL managing director, B Brahma Naidu, told media
persons here on Monday. Naidu said the processing plant had been entirely
funded through internal accruals. In 2012-13, he said, TMPL would post a
turnover of about Rs 15000.000 Millions and a net profit of around Rs.1100.000
Millions. The company’s turnover in 2011-12 stood at Rs.11730.000 Millions.
It is also planning to start its operations in Delhi shortly. “We are
conducting a survey besides looking for milk plants in the national capital
region for acquiring or taking on lease a milk processing and packaging plant,
“he said, adding the company had earmarked Rs.500.000 Millions for Delhi
operations.
TMPL has its operations spread over Andhra Pradesh, Tamil Nadu and Karnataka.
It also markets long shelf-life products like UHT (ultra-high temperature
processing) milk in Gujarat, Madhya Pradesh, Maharashtra, Chhattisgarh and
Himachal Pradesh.
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 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 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.60.80 |
|
|
1 |
Rs.91.95 |
|
Euro |
1 |
Rs.80.37 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
61 |
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.