MIRA INFORM REPORT
|
Report Date : |
12.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
CARGILL INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
111, Rectangle – I, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
12.04.1996 |
|
|
|
|
Com. Reg. No.: |
55-118008 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 410.458
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15440DL1996PTC118008 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC3269J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers and Exporters of Edible Oil, Vegetable Oils and Food
Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
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 7900000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a part of Cargill USA. It is an established company having fine track record. Latest
financial i.e. 2011-12 are missing from the government department from the available
financial i.e. 2011 it seems that the company has recorded some accumulated
losses. However, the company receives good financial 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 holding. The company can be considered good 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 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Commercial paper programme = A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
31.08.2012 |
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.
LOCATIONS
|
Registered Office : |
111, Rectangle – I, Saket District Center, New Delhi-110017, India |
|
Tel. No.: |
91-11-46010389 |
|
Fax No.: |
91-11-46010390 |
|
E-Mail : |
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|
Website : |
|
|
|
|
|
Corporate Office : |
14th Floor, Building 9 A
DLF Cyber City, Phase III Gurgaon-122002 Haryana, India |
|
Tel. No.: |
91-124-2358939/
4090489 |
|
Fax No.: |
91-124-2358977/ 2358972/ 73 |
DIRECTORS
AS ON 30.09.2012
|
Name : |
Mr. Maheep Kumar Shukla |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Additional director |
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|
Address : |
106, C2C Block, Pocket - II, Janakpuri, New Delhi – 110058, India |
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|
Date of Birth/Age : |
01.10.1974 |
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|
Date of Appointment : |
27.09.2010 |
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|
DIN No.: |
02901473 |
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|
Other Directorship :
|
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|
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|
Name : |
Mr. John Joseph |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Additional director |
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|
Address : |
Flat No. 201 Hillscapes, Pashan-Baner Link Road, Pashan, Pune –
411021, Maharashtra, India |
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|
Date of Birth/Age : |
26.05.1966 |
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|
Date of Appointment : |
22.10.2012 |
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|
DIN No.: |
01520069 |
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Other Directorship :
|
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||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Siraj Azmat Chaudhry |
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|
Designation : |
Director |
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|
Address : |
S-12B, |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
08.01.1967 |
||||||||||||||||||||||||||||||||||||
|
Qualification : |
MIB'88-IIFT |
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|
Date of Appointment : |
30.09.2008 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00161853 |
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Other Directorship :
|
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|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Viraghavan Sankaran |
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|
Designation : |
Director |
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|
Address : |
519-A, |
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|
Date of Birth/Age : |
07.04.1964 |
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|
Qualification : |
PGDM-IIM'90, B.E- MSU'87 |
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|
Date of Appointment : |
30.09.2008 |
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|
DIN No.: |
00174728 |
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Other Directorship :
|
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|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Srinivasa Rao Namburi |
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|
Designation : |
Director |
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|
Address : |
B- 1102, Park Life, Sector – 57, Gurgaon – 122011, Haryana, India |
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|
Date of Birth/Age : |
14.10.1975 |
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Date of Appointment : |
28.09.2012 |
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|
DIN No.: |
03614838 |
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Other Directorship :
|
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||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Parmeshwar Ravi |
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|
Designation : |
Director |
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|
Address : |
115, Hamilton Court, DLF Phase 4, Gurgaon – 122002, Haryana, India |
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Date of Birth/Age : |
12.02.1966 |
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|
Date of Appointment : |
28.09.2012 |
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|
DIN No.: |
05216282 |
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KEY EXECUTIVES
|
Name : |
Ms. Jyoti Arora |
|
Designation : |
Company Secretary |
|
Address : |
H. No. 768/22, Street No. 2, Gandhi Nagar, Gurgaon-122001, |
|
Date of Birth/Age : |
25.07.1981 |
|
Date of Appointment : |
21.01.2008 |
|
Pan No.: |
AIAPA1497K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 28.09.2012
|
Names of Shareholders |
No. of
Preferences Shares |
Percentage of
Holding |
|
Cargill Mauritius Limited, |
-- |
40348554 |
|
Cargill International Trading PTE Limited, |
-- |
2 |
|
Cargill Global Trading India Private Limited, |
1250000 |
-- |
|
|
|
|
|
Total |
1250000 |
40348556 |
AS ON 30.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
|
|
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporters of Edible Oil, Vegetable Oils and Food
Products. |
|
|
|
|
Products : |
PRODUCTION STATUS (AS ON 31.03.2011)
Licensed capacity /
Installed Capacity *
|
Particulars |
Unit |
Licensed
Capacity |
|
Edible oil refining |
MT per annum |
1140000 |
|
Aqua feed |
MT per annum |
36000 |
|
Emulsion and food flavors |
MT per annum |
2500 |
|
Others * * |
MT per annum |
190800 |
NOTE:
- *As certified
by the management and not verified by the Auditor being a technical
matter.
- **Represents
installed capacity of distilled fatty acid (25500 MT), acid oil (13800
MT), hydro vasnaspati (150000 MT) and packing film extrusion (1500 MT).
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountant |
|
Address : |
Building No. 10, 8th Floor, Tower – B, |
|
Tel. No.: |
91-124-2549191 |
|
Fax No.: |
91-124-2549101 |
|
|
|
|
Holding Company:
|
Cargill Mauritius Limited, |
|
|
|
|
Ultimate Holding
Company: |
Cargill Incorporated, |
|
|
|
|
Fellow
Subsidiaries: |
|
CAPITAL STRUCTURE
AS ON 30.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
120,000,000 |
Equity Shares |
Rs.10/- each |
Rs.1200.000 Millions |
|
26,000,000 |
Preferences Shares |
Rs.10/- each |
Rs.260.000 Millions |
|
|
Total |
|
Rs.1460.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
40,348,556 |
Equity Shares |
Rs.10/- each |
Rs.403.486 Millions |
|
1,250,000 |
Preferences Shares |
Rs.10/- each |
Rs.12.500 Millions |
|
|
|
|
Rs.415.986 Millions |
AS ON 31.03.2011
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
120,000,000 |
Equity Shares |
Rs.10/- each |
Rs.1200.000 Millions |
|
26,000,000 |
Preference Share |
Rs.10/-each |
Rs.260.000 Millions |
|
|
Total |
|
Rs.1460.000
Millions |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
39,795,893 |
Equity Shares |
Rs.10/- each |
Rs.397.958 Millions |
|
1,250,000 |
Preference Share |
Rs.10/-each |
Rs.12.500 Millions |
|
|
Total |
|
Rs.410.458 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
410.458 |
410.458 |
397.873 |
|
|
2] Share Application Money |
67.425 |
0.000 |
1.701 |
|
|
3] Reserves & Surplus |
1871.997 |
1871.997 |
1632.880 |
|
|
4] (Accumulated Losses) |
(360.092) |
(1017.998) |
(1313.405) |
|
|
NETWORTH |
1989.788 |
1264.457 |
719.049 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
18204.369 |
10523.997 |
6656.812 |
|
|
TOTAL BORROWING |
18204.369 |
10523.997 |
6656.812 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
20194.157 |
11788.454 |
7375.861 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2505.465 |
1669.297 |
1438.110 |
|
|
Capital work-in-progress |
562.796 |
217.421 |
362.741 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
14091.460
|
12629.697
|
7735.270
|
|
|
Sundry Debtors |
4332.589
|
1449.497
|
1748.429
|
|
|
Cash & Bank Balances |
2729.816
|
1825.819
|
1190.110
|
|
|
Other Current Assets |
0.000
|
83.539
|
0.000
|
|
|
Loans & Advances |
2508.522
|
1771.873
|
2012.276
|
|
Total
Current Assets |
23662.387
|
17760.425
|
12686.085
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
7212.441
|
9751.504 |
6138.279 |
|
|
Other Current Liabilities |
(817.769)
|
(2048.471)
|
804.932
|
|
|
Provisions |
141.819
|
155.656
|
167.864
|
|
Total
Current Liabilities |
6536.491
|
7858.689
|
7111.075
|
|
|
Net Current Assets |
17125.896
|
9901.736
|
5575.010
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
20194.157 |
11788.454 |
7375.861 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
66653.020 |
63958.270 |
61420.840 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
65089.450 |
63030.950 |
59467.660 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
65089.450 |
63030.950 |
59467.660 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1563.570 |
927.320 |
1953.180 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
508.660 |
460.690 |
542.950 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1054.910 |
466.630 |
1410.230 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
254.080 |
197.390 |
301.830 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
800.830 |
269.240 |
1108.400 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
142.920 |
16.880 |
45.280 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
657.910 |
252.360 |
1063.120 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(1018.000) |
(1313.410) |
(2376.530) |
|
|
|
|
|
|
|
|
|
Add |
Transitional
adjustment on adoption of AS 30 [net of provision for tax of Rs.8.810
millions in previous year] |
0.000 |
43.050 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(360.090) |
(1018.000) |
(1313.410) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports* [Includes merchanting sales of Rs.6988.077 millions and sales of the
overseas branch amounting to Rs.655.235 millions.] |
NA |
13876.075 |
18220.584 |
|
|
|
Agency Fees |
NA |
164.247 |
172.488 |
|
|
|
Other Income |
NA |
54.788 |
94.405 |
|
|
TOTAL EARNINGS |
NA |
14095.110 |
18487.477 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
16228.755 |
11482.930 |
|
|
|
Stores & Spares |
NA |
13.716 |
47.865 |
|
|
|
Capital Goods |
NA |
0.186 |
22.148 |
|
|
TOTAL IMPORTS |
NA |
16242.657 |
11552.943 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
16.53 |
6.34 |
26.72 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.99
|
0.39
|
1.73
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.06
|
1.38
|
7.84
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.40
|
0.21
|
1.54
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
9.14
|
8.32
|
9.26
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.62
|
2.26
|
1.78
|
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 |
No |
|
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 |
No |
|
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
NOTE:
Registered office of the company has been shifted from 13, Abdul Fazal
Road, New Delhi – 110001, Delhi, India to the present address w.e.f. 09.08.2007
PERFORMANCE FOR
THE YEAR:
The company is that it has achieved a turnover of Rs.64862.110 millions (net of excise duty) during the financial year 2010-11, showing a growth of 4.65% over previous year. it has also reported a net profit of Rs.800.830 millions (before tax) during the current year with a growth of 197% over the profits of previous year.
WEBSITE DETAILS:
CCI GIVES GREEN
SIGNAL TO CARGILL JV IN NORTH AMERICA
As per the proposed deal, all the three US-based companies would consolidate their flour milling and other related business in North America, along with that of their respective subsidiaries into a new company called Ardent Mills.
In an order dated April 23, the Competition Commission of India (CCI) observed that "the proposed combination is limited to certain businesses and assets of the parties (Cargill, CHS and ConAgra) in North America and do not involve the operations or assets of the parties in India".
"...the proposed combination is not likely to have an appreciable adverse effect on competition in India and therefore, the Commission hereby approves the proposed combination under the...(Competition) Act," it added.
As per the deal, ConAgra, Cargill and CHS would establish H M Luxembourg S a r l (HMLS) as a joint venture, to combine their North American (Canada, USA and Puerto Rico) flour milling operations and other related business along with that of their respective subsidiaries.
Cargill, an international producer and marketer of food ITEMS, is stated to operate in India through its group companies in different businesses, including edible oil and food ingredients.
ConAgra, also a US-based food company operates in India through Agro Tech Foods in which it is stated to hold 51 per cent equity shares. Agro Tech Foods offers various food and food ingredient products.
US-based CHS is a cooperative owned by farmers, ranchers and their member co-operatives across the US and does not have any assets in India.
Following the agreement between the three companies, HMLS approached CCI for its approval earlier this month.
CARGILL TO INVEST RS
5000.000 MILLONS IN INDIA BIZ
New Delhi, Dec 18 (PTI)
US-based agri-food giant Cargill will invest about Rs 400 crore to set up a
corn milling plant in Karnataka, and another Rs 1000.000 millions on expansion
of capacity of existing edible oil plants, the Chairman of its India unit said
today.
Cargill India, a Rs 90000.000 millions company and part of nearly USD 134
billion global group, sells edible oils and vansapati under Nature Fresh,
Sweekar, Gemini, Rath and Sunflower Vanaspati brands.
The company is also planning to expand refining capacity of its three existing
edible oil plants in India with an investment of about Rs 1000.000 millions.
"They are in the process of establishing a corn milling plant in Karnataka
with an investment of around Rs 4000.000 millions.
The capacity will be 800-1,000 tonnes per day. It will be their single largest
investment in India," Cargill India Chairman Siraj A Chaudhry told
reporters here.
The proposed plant will produce modified starch for the consuming processed
food and pharma industries.
The company is scouting for land at Davangere in Karnataka for setting up the
plant, Chaudhry said, adding that the facility is expected to commence
operations by 3rd quarter of 2014.
On edible oil business, which contributes more than half of its revenue, he
said the company would increase the refining capacity by 1,000 tonnes per day
at a cost of about Rs 1000.000 millions.
"The total investment of Rs 5000.000 millions will be funded through
internal accruals," he added.
Cargill India is also re-entering into branded wheat flour business with
''Nature Fresh'' Brand and is also looking at other food commodities like rice
and pulses.
Chaudhry also said that the company is looking at more acquisitions in edible
oil and wheat flour sectors.
Earlier this month, Cargill announced that it has acquired Wipro''s flagship
brand Sunflower Vanaspati. The acquisition expands its existing portfolio of
edible oil and vanaspati brands and also increases its market reach in India''s
palm oil and its derivatives and vanaspati market.
The company has 3 edible oil refining facilities in India based in Gujarat, Maharashtra
and Odisha with a capacity of 4,000 tonnes per day. It also has 7 animal feed
manufacturing units in the country.
Cargill is engaged in processing, refining and marketing imported and
indigenous vegetable oils. That apart, it supplies food ingredients to
manufacturers and food service industry, process, store, trade and markets farm
commodities like grains, oilseeds, sugar and cotton, among other businesses.
CARGILL INDIA EYES 20
PER CENT GROWTH IN EDIBLE OIL BUSINESS
Subject, known for its Nature Fresh and Engine brands of edible oil, is expecting a 15-20 per cent growth in sales volume in its packaged oil business in the country.
The company is currently doing a pan-India business of Rs 25000.000 – 35000.000 millions per annum in the edible oil segment depending on the commodity prices.
"Their company's turnover stood at around Rs 50000.000 millions in the last fiscal. The edible oil business contributes 60 per cent of their turnover. They do a business of Rs 25000.000 – 35000.000 millions every year in the edible oil segment and this fiscal they are looking at a 15-20 per cent growth”, said Siraj Chaudhry, chairman of Cargill India.
The market size for consumption of edible oil in the country stands at 15 million tonnes and it is growing at the rate of six per cent per annum. The organized edible oil business is 25 per cent of this market and Cargill India has a share of 14 per cent in the packaged oil market, said Chaudhry.
The company, however, is a dominant player in Maharashtra where it has a share of 40 per cent.
The Orissa market accounts for 10-15 per cent of the total edible oil business of the company, he added.
Asked on new lines of business being contemplated by the company, Chaudhry said, “They are looking to set up a corn processing facility in the country. Corn processing is largely concentrated in South India or on the Bengal-Bihar border but they are yet to identify any location for their proposed facility.”
Cargill is also eyeing to tap the South India market in a big way. Presently, the company is only supplying sunflower edible oil to a niche customer base in this market.
“If they need to complete their portfolio, they got to have a strong presence in the south India market. This can be achieved either through setting up an edible oil refinery in south India or acquiring an existing refinery”, Chaudhry informed.
The company is presently running three refineries- Kandla (Gujarat), Kumkum near Pune and Paradip. The combined production capacity of these three refineries is 3500 tonnes per day.
The company has so far invested Rs 1250.000 millions in two phases on its Paradeep unit which has a capacity of 30,000 tonnes per month.
Cargill India on Thursday, launched its 'NatureFresh Shakti” brand of refined palmolein oil. The palmolein oil is fortified with Vitamins A, D, and E which the company claimed to have done for the first time in the industry.
New
ACQUISITION BOLSTERS
CARGILL’S CONSUMER BRAND PORTFOLIO AND EXPANDS MARKET REACH IN INDIA
Gurgaon - 10 December, 2012 - Cargill announced that it signed an agreement with Wipro Limited. to acquire its flagship brand Sunflower Vanaspati, being marketed in the hard fats category (Vanaspati). Sunflower Vanaspati is a premium brand in state of Maharashtra, India. The scope of the acquisition is limited to the product brand only.
This acquisition strengthens Cargill’s existing portfolio of leading edible oil and vanaspati brands and also expands its market reach in India’s palm oil and its derivaties including vanaspati market. Apart from marketing its edible oil portfolio that includes brands such as Nature Fresh, Sweekar and Gemini, Cargill already locally produces and markets Vanaspati under its brands Rath, NatureFresh Purita and, Gemini.
"Acquiring Sunflower Vanaspati underscores Cargill's long-term commitment to growing their consumer food business in India. It is an excellent fit with their existing strong brand portfolio through which they serve a significant consumer base across the country,” said Siraj Chaudhry, Chairman Cargill India.
“Sunflower Vanaspati is an iconic and trusted name associated with cooking delicious food, purity and goodness since 1949. It has since been positioned `as next to Desi Ghee’ in the household segment. They will build on its strong brand heritage and consumers will benefit from Cargill's commitment to quality, food safety, innovation and value. They will also leverage on their strong distribution network to expand to other markets,” added Chaudhry.
fixed ASSETS:
· Freehold land
· Leasehold land
· Building – Plant
· Building – Office
· Land development
· Plant and Machinery
· Computer
· Office equipment
· Vehicles
· Furniture and fixture
· Goodwill
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. 58.92 |
|
|
1 |
Rs. 91.81 |
|
Euro |
1 |
Rs. 78.18 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
NO |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
62 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.