MIRA INFORM REPORT
|
Report Date : |
22.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
SCHREIBER DYNAMIX DAIRIES LIMITED (w.e.f. 03.11.2006) |
|
|
|
|
Formerly Known
As : |
DYNAMIX DAIRY INDUSTRIES LIMITED (w.e.f. 03.02.1994) CONWOOD FOOD INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
A-306/307, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
11.05.1992 |
|
|
|
|
Com. Reg. No.: |
11-066700 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.950.962 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1992PLC066700 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMD09903F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACD3743J |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and importer of value added dairy products. |
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|
|
|
No. of Employees
: |
550 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
|
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 11000000 |
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|
|
|
Status : |
Good |
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|
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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. Financial position of the company appears to be strong. Liquidity position
seems to be good. The rating also take into consideration the strong debt protection and
healthy support from its group companies. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. In view of strong promoters, 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.
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 |
CRISIL |
|
Rating |
AA- (Long Term) |
|
Rating Explanation |
This rating are considered to have high degree of safety regarding timely
servicing of financial obligation. Such instruments carry very low credit
risk. |
|
Date |
08.06.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A1+ (Short Term Rating) |
|
Rating Explanation |
This rating are considered to have strong degree of safety regarding
timely payment of financial obligation. Such instruments carry lowest credit
risk. |
|
Date |
08.06.2012 |
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.
INFORMATION PARTED BY
|
Name : |
Ms. Anjali Gupta |
|
Designation : |
Account Department |
|
Contact No.: |
91-22-67711900 |
|
Date : |
22.08.2013 |
LOCATIONS
|
Registered / Corporate Office : |
A-306/307, |
|
Tel. No.: |
91-22-67711900/ 903 / 28402304 |
|
Fax No.: |
91-22-67711910 |
|
E-Mail : |
praveen.heda@schreiberfoods.com
|
|
Website : |
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|
Area : |
5000 sq. ft. |
|
Location : |
Owned |
|
|
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|
Factory : |
E-94, MIDC, |
|
Tel. No.: |
91-2112-243821/ 22/ 23/ 24 |
|
Fax No.: |
91-2112-243710/ 243707 |
|
Area : |
2 acre |
|
Location : |
Owned |
DIRECTORS
As on 17.08.2012
|
Name : |
Mr. Amitabha Ray |
|
Designation : |
Managing Director |
|
Address : |
82, Trishul, 3rd Cross Road Lokhandwala Complex, Andheri
(West), Mumbai – 400 058, |
|
Date of Birth/Age : |
23.08.1949 |
|
Date of Appointment : |
18.11.2005 |
|
Qualification : |
B.E.(Elect); PG in Control Engineering |
|
Pan No.: |
AABPR0328P |
|
DIN No.: |
00082806 |
|
|
|
|
Name : |
Mr. Pramod Krishnamoorary Goenka |
|
Designation : |
Director |
|
Address : |
Jakni Kutir, Vaibhav Society, |
|
Date of Birth/Age : |
31.12.1961 |
|
Date of Appointment : |
09.06.2001 |
|
Qualification : |
B.Com |
|
DIN No.: |
00029243 |
|
|
|
|
Name : |
Mr. Gobind Kaliandas Dryanani |
|
Designation : |
Director |
|
Address : |
Flat No. 24, 2nd Floor, |
|
Date of Birth/Age : |
13.08.1933 |
|
Date of Appointment : |
24.06.2005 |
|
Qualification : |
Matriculation |
|
DIN No.: |
00324867 |
|
|
|
|
Name : |
Mr. Craig Edward Newman |
|
Designation : |
Director |
|
Address : |
3071, Mercedes Drives., |
|
Date of Birth/Age : |
22.09.1967 |
|
Date of Appointment : |
25.09.2003 |
|
Qualification : |
Bachlor of Science in Business/Economics – Wisconsin(USA) |
|
DIN No.: |
01776419 |
|
|
|
|
Name : |
Mr. |
|
Designation : |
Director |
|
Address : |
501 Kings Paartment, |
|
Date of Birth/Age : |
06.12.1936 |
|
Date of Appointment : |
11.05.1992 |
|
Qualification : |
B.Com |
|
Pan No.: |
AFLPG2767G |
|
DIN No.: |
00029591 |
|
|
|
|
Name : |
Harley Tipton Skidmore |
|
Designation : |
Director |
|
Address : |
1894, Cady Lane, |
|
Date of Birth/Age : |
09.02.1958 |
|
Date of Appointment : |
13.03.2009 |
|
Qualification : |
Bachelor of Science – General Engineering, Masters of Science for Systems Management |
|
DIN No.: |
02585285 |
KEY EXECUTIVES
|
Name : |
Mr. Jay Prakash Sharma |
|
Designation : |
Company Secretary |
|
Address : |
Flat No. 302, Silver Tower, Thakur Complex, Kandivali (East), Mumbai –
400 101, Maharashtra, India |
|
Date of Birth/Age : |
01.07.1976 |
|
Date of Appointment : |
02.05.2012 |
|
PAN No.: |
BKAPS2421Q |
|
|
|
|
Name : |
Mr. Pravin Heta |
|
Designation : |
Finance Manager |
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|
|
|
Name : |
Ms. Anjali Gupta |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 17.08.2012
SHAREHOLDINGS DETAILS FILES ATTACHED
As on 17.08.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
52.43 |
|
Directors or relatives of Directors |
46.42 |
|
Other |
1.15 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and importer of value added dairy products. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
USA |
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Terms : |
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Selling : |
L/C / Credit |
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Purchasing : |
L/C / Credit |
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PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Processed Cheese |
MT |
16307 |
3724 |
|
Casein MPC80 |
MT |
3200 |
1806 |
|
Lactose |
MT |
3200 |
2239 |
|
Powders |
MT |
21600 |
18160 |
|
Butter and Ghee |
MT |
11520 |
9881 |
|
UHT Milk / Fl Milk / Juice |
Ltr.’000 |
142356 |
71793 |
|
Natural / Mozzarella Cheese |
MT |
7200 |
6412 |
|
Dahi |
MT |
7920 |
3291 |
(a)Licensed
capacity of 15 lakh (Previous Year 15 Lakh) litres per day approved by Ministry
of Food Processing Industries, Government of India
(b)The installed capacity
of butter is 4,800,000 kilograms (Previous Year 4,800,000)
(c)Installed
capacity has been determined on two/three shift basis, wherever applicable, and
on the basis of maximum handling capacity of milk by each production line, as
certified by the management of the company. The information being of a
technical nature has been relied upon by auditors.
(d)The above
information has been mentioned only for those class of goods, which are mainly
meant for sale.
(e)Actual
Production includes:-
i)
Qu antities Produced by third parties under
contract with company.
ii)
Quantities of Samples.
iii)
Quantities for Captive Consumption.
GENERAL INFORMATION
|
Customers : |
Retailers and End Users |
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No. of Employees : |
550 (Approximately) |
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Bankers : |
Tel.
No.: 91-22-28380058
Tel.
No.: 91-22-66699000 |
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Facilities : |
(Rs.
In Millions)
|
|
|
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|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
Rabo India Finance Limited, Forbes Building ; IInd Floor, Mumbai, Maharashtra, India |
|
|
|
|
Auditors 1 : |
|
|
Name : |
S.R. Batliboi and Company Chartered Accountants |
|
Address : |
6th Floor, |
|
PAN.: |
AAACE2442D |
|
|
|
|
Auditors 2 : |
|
|
Name : |
S.R.B.C and Company Chartered Accountants |
|
Address : |
22 Camac, Street Block, C, 3 Road, Floor |
|
PAN.: |
ABSFS4151K |
|
|
|
|
Holding Company : |
Schreiber International Inc |
|
|
|
|
Ultimate Holding
company : |
Schreiber Foods Inc |
|
|
|
|
Fellow Subsidiary
Company : |
GBM Green Bay Machinery Company Inc |
|
|
|
|
Associate : |
CIN No.: U55200MH1983PTC031709
CIN No.: U70100MH1979PTC020933
CIN No.: U51900MH1984PTC033987
CIN No.: U70100MH2004PTC149602
CIN No.: U51900MH1982PTC027524
CIN No.: U55101MH2006PTC165933
CIN No.: U01110PN1994PLC132478
CIN No.: U45200MH1986PTC039169
CIN No.: U45202MH1982PTC027927
CIN No.: L70200MH2007PLC166818
|
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
120000000 |
Equity Shares |
Rs.10/- each |
Rs.1200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
95096200 |
Equity Shares |
Rs.10/- each |
Rs.950.962 Millions |
|
|
|
|
|
Disclosure of
shareholding more than five per cent in company
|
Name of shareholder |
Number of shares held in company |
Percentage of shareholding in company |
|
Schreiber International Inc, USA |
4,84,99,062 |
51.00% |
|
Gobind KDaryanani/ Rajni G Daryanani |
1,18,11,788 |
12.00% |
|
Ram K Daryanani/ Sangeeta Daryanani |
83,79,830 |
8.80% |
|
Pramod K Goenka |
68,86,918 |
7.00% |
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 |
|
950.962 |
650.962 |
|
(b) Reserves & Surplus |
|
1894.131 |
1549.717 |
|
(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) |
|
2845.093 |
2200.679 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
10.258 |
|
(b) Deferred tax liabilities (Net) |
|
180.856 |
205.616 |
|
(c) Other long term
liabilities |
|
3.414 |
4.218 |
|
(d) long-term
provisions |
|
122.906 |
98.998 |
|
Total Non-current
Liabilities (3) |
|
307.176 |
319.090 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
54.727 |
182.907 |
|
(b) Trade
payables |
|
694.001 |
529.872 |
|
(c) Other
current liabilities |
|
317.531 |
296.804 |
|
(d) Short-term
provisions |
|
9.794 |
10.538 |
|
Total Current
Liabilities (4) |
|
1076.053 |
1020.121 |
|
|
|
|
|
|
TOTAL |
|
4228.322 |
3539.890 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
1705.588 |
1849.763 |
|
(ii)
Intangible Assets |
|
9.729 |
19.031 |
|
(iii)
Capital work-in-progress |
|
45.666 |
53.614 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.820 |
0.820 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
42.444 |
30.915 |
|
(e) Other
Non-current assets |
|
5.761 |
5.450 |
|
Total Non-Current
Assets |
|
1810.008 |
1959.593 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
1656.401 |
1254.705 |
|
(c) Trade
receivables |
|
456.183 |
434.192 |
|
(d) Cash
and cash equivalents |
|
234.774 |
52.184 |
|
(e)
Short-term loans and advances |
|
61.865 |
136.750 |
|
(f) Other
current assets |
|
9.091 |
2.466 |
|
Total
Current Assets |
|
2418.314 |
1880.297 |
|
|
|
|
|
|
TOTAL |
|
4228.322 |
3539.890 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
950.962 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
1419.105 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
2370.067 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
228.555 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
228.555 |
|
|
DEFERRED TAX LIABILITIES |
|
|
220.306 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2818.928 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1941.327 |
|
|
Capital work-in-progress |
|
|
28.524 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.820 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
1069.098
|
|
|
Sundry Debtors |
|
|
444.677
|
|
|
Cash & Bank Balances |
|
|
126.955
|
|
|
Other Current Assets |
|
|
26.773
|
|
|
Loans & Advances |
|
|
177.859
|
|
Total
Current Assets |
|
|
1845.362
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
694.076
|
|
|
Other Current Liabilities |
|
|
214.673
|
|
|
Provisions |
|
|
88.356
|
|
Total
Current Liabilities |
|
|
997.105
|
|
|
Net Current Assets |
|
|
848.257
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2818.928 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
10373.343 |
9362.935 |
7505.550 |
|
|
|
Other Income |
15.307 |
111.729 |
91.851 |
|
|
|
TOTAL (A) |
10388.650 |
9474.664 |
7597.401 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
8280.335 |
7459.659 |
|
|
|
|
Purchases of stock-in-trade |
164.561 |
110.192 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(404.005) |
31.951 |
7110.858 |
|
|
|
Employee benefit expense |
406.981 |
362.302 |
|
|
|
|
Other expenses |
1189.842 |
1071.429 |
|
|
|
|
TOTAL (B) |
9637.714 |
9035.533 |
7110.858 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
750.936 |
439.131 |
486.543 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5.055 |
19.463 |
9.939 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
745.881 |
419.668 |
476.604 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
234.253 |
223.207 |
162.943 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
511.628 |
196.461 |
313.661 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
167.214 |
65.849 |
96.569 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H)
(I) |
344.414 |
130.612 |
217.092 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1157.999 |
1027.387 |
810.295 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1502.413 |
1157.999 |
1027.387 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Exports on FOB basis |
214.233 |
1447.871 |
775.917 |
|
|
TOTAL EARNINGS |
214.233 |
1447.871 |
775.917 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
486.752 |
372.147 |
271.048 |
|
|
|
Stores, Spares parts, Components, Packing Material |
35.508 |
78.334 |
109.908 |
|
|
|
Capital goods |
0.000 |
0.000 |
287.289 |
|
|
TOTAL IMPORTS |
522.260 |
450.481 |
668.245 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.62 |
1.37 |
2.28 |
|
|
Particulars |
|
|
31.03.213 |
|
Sales Turnover (Approximately) |
|
|
12000.000 |
The above information has been parted by Ms. Anjali Gupta
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.32
|
1.38
|
2.86
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.93
|
2.09
|
4.18
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.23
|
5.19
|
8.28
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.09
|
0.13
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.02
|
0.09
|
0.10
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.25
|
1.84
|
1.85
|
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT: NOT AVAILABLE
|
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
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 |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
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] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN 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 |
Note:
The registered office of the company has been shifted from
Conwood House, Yashodhama K Vaidya Marg, Goregaon (East), Mumbai, Maharashtra,
India to
present address w.e.f. 25.09.2006
FINANCIAL RESULTS
The year was a landmark year for the Company as it delivered record financial and operating performance amidst challenging and volatile market conditions.
During the year, the Company has scaled new heights and set several new benchmarks in terms of turnover, EBIDTA and profits, Turnover for the year was Rs.10373.343 Millions as against Rs.9362.935 Millions in the previous year, reflecting growth of 10.80%, EBIDTA for the year was Rs. 750.936 Millions as against Rs. 439.131 Millions in the previous year, resulting in a growth of 71 % and Profit after tax, for the year was Rs.344.414 Millions as against Rs.130.612 Millions in the previous year, resulting in a growth of 163 %.
During the year, the other financial indicator also show remarkable performance, the earning per share (EPS) has increased from Rs. 1.37 to Rs. 3.62 per share.
However there was significant inflation in prices of raw material, packing materials and other key inputs laid tremendous pressure on the margins of the business.
PERFORMANCE AND
PROSPECTS
During the year the performance of the Company has been satisfactory. The domestic market has shown a positive trend. The increase in the price of milk, ban on export of various dairy products and decline of export incentives has adversely affected the performance of the Company. This has, to a large extent, been compensated through increased realization from sale of all dairy products in the domestic market.
The Company is focused on long term, sustainable and profitable growth which has over the years built relationship, trust and confidence with consumers and suppliers.
The Company is poised to take the rightful position, as one of the leading players, in the Indian Dairy Industry.
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Rupee term loans banks unsecured |
0.000 |
150.000 |
|
Total |
0.000 |
150.000 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10428712 |
07/05/2013 |
250,000,000.00 |
Rabobank International (Cooperative Centrale Raiff |
FORBES BUILDING, 2ND FLOOR, CHARANJIT RAI MARG, FORT, MUMBAI, Maharashtra - 400001, INDIA |
B76101161 |
|
2 |
10375093 |
19/07/2012 |
200,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. |
B57523557 |
|
3 |
10091333 |
26/02/2007 |
762,800,000.00 |
State Bank of India |
Deccan Gymkhana Branch, 2nd Floor, PMT Building, |
A14291058 |
|
4 |
90353336 |
07/10/2004 |
350,000,000.00 |
ORIENTAL BANK OF COMMERCE |
JASH CHAMBER, SIR P.M. ROAD; FORT, MUMBAI, Maharashtra, INDIA |
- |
|
5 |
90357517 |
08/07/1999 |
7,150,000.00 |
BLOBAL TRUST BANK LIMITED |
SHREEJEE CHAMBERS; TATA ROAD, NO.2 OPERA HOUSE, MUMBAI, Maharashtra, INDIA |
- |
* Date of charge modification
FIXED ASSETS
·
Free
·
· Buildings
· Furniture and Fixtures
· Vehicles
· Plant and Machinery
AS PER WEBSITE
PRESS RELEASE
NESTLE INDIA PICKS UP
26% STAKE IN INDOCON AGRO
NEW DELHI, FEB
4:
In a surprise move, Nestle India Limited has acquired 26 per cent stake in a little known dairy company Indocon Agro and Allied Activities Private Limited.
In a note to the BSE on Monday, Nestle said that it had entered into an agreement to pick up a minority stake in Indocon, which is engaged in milk collection business in western India.
Nestle India currently has its own manufacturing facilities at Moga in Punjab and Samalkha in Haryana, which largely service the northern market.
Apart from that, it has contract supply arrangements for the West and South markets with Baramati-based Schreiber Dynamix Dairies Limited and the Hyderabad-based Heritage Foods for its curd and UHT (ultra high temperature) milk. Besides, it sources milk powder from domestic players such as Sterling Agro and VRS Foods.
“When there are so many suppliers, one doesn’t understand the rationale for picking up stakes, that too in a company about which not much is known,” an industry source said.
One possibility could be that this company could be linked to Schreiber Dynamix itself. There has been talk, of late, about Nestle tying up with Schreiber Dynamix to set up a milk powder plant at Baramati.
Schreiber Dynamix, formerly Dynamix Dairy Industries Limited, was originally promoted by K.M. Goenka, before the US-based cheese major Schreiber International Inc acquired a majority stake in it in 2003.
Following that, Goenka floated a separate company, Sahyadri Agro Produce and Dairy Limited, which is engaged in the business of milk handling for captive consumption of Schreiber Dynamix.
A Nestle India spokesperson said the Swiss major’s deal with Indocon was of ‘strategic and long-term’ nature, but could not give further details, including where the latter was based or how much milk it collects per day. Details of the financials of the transaction were also not disclosed.
Nestle India shares ended higher by 0.63 per cent to end at Rs 4,749 on the BSE on Monday.
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.65.42 |
|
|
1 |
Rs.102.09 |
|
Euro |
1 |
Rs.87.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
NTH |
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 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
60 |
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.