1. Summary Information
|
|
|
Country |
INDIA |
|
Company Name |
GODREJ AGROVET LIMITED |
Principal Name 1 |
MR. NADIR BURJORJI GODREJ |
|
Status |
GOOD |
Principal Name 2 |
MR. BALRAM SINGH YADAV |
|
|
|
Registration # |
11-135359 |
|
Street Address |
PIROJSHA NAGAR, EASTERN EXPRESS HIGHWAY, VIKHROLI (EAST), MUMBAI – 400
079, MAHARASHTRA |
||
|
Established Date |
25.11.1991 |
SIC Code |
-- |
|
Telephone# |
91-22-25188010 |
Business Style 1 |
MANUFACTURING |
|
Fax # |
91-22-25188485 |
Business Style 2 |
SELLING |
|
Homepage |
Product Name 1 |
ANIMAL FEEDS |
|
|
# of employees |
NOT AVAILABLE |
Product Name 2 |
-- |
|
Paid up capital |
RS.121,187,520/- |
Product Name 3 |
-- |
|
Shareholders |
BODIES CORPORATE-75.82% DIRECTORS OR RELATIVES OF DIRECTORS-19.34% OTHER TOP FIFTY SHAREHOLDERS-4.84% |
Banking |
STATE BANK OF INDIA |
|
Public Limited Corp. |
NO |
Business Period |
22 YEARS |
|
IPO |
NO |
International Ins. |
-- |
|
Public |
NO |
Rating |
A (63) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
HOLDING COMPANY |
INDIA |
GODREJ INDUSTRIES LIMITED (GIL) |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
NA |
Current Liabilities |
NA |
|
Inventories |
NA |
Long-term Liabilities |
NA |
|
Fixed Assets |
NA |
Other Liabilities |
NA |
|
Deferred Assets |
NA |
Total Liabilities |
NA |
|
Invest& other Assets |
NA |
Retained Earnings |
NA |
|
|
|
Net Worth |
NA |
|
Total Assets |
NA |
Total Liab. &
Equity |
NA |
|
Total Assets (Previous Year) |
7,825,392,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
21,965,846,000 |
Net Profit |
808,085,000 |
|
Sales(Previous yr) |
15,983,569,000 |
Net Profit(Prev.yr) |
298,004,000 |
|
Report Date : |
11.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
GODREJ AGROVET LIMITED |
|
|
|
|
Registered
Office : |
Pirojsha Nagar, Eastern
Express Highway, Vikhroli (East), Mumbai – 400 079,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 (Profit and Loss A/c) |
|
|
|
|
Date of
Incorporation : |
25.11.1991 |
|
|
|
|
Com. Reg. No.: |
11-135359 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.121.188 Millions |
|
|
|
|
CIN No.: [Company Identification No.] |
U15410MH1991PLC135359 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG08309A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACG0617Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Selling of Animal Feeds. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
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 10330000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Godrej Group. It is a well established and reputed company having fine track record.
Financial position of the company appears to be sound. Trade relations are
reported as fair. Business is active. Payments are reported to be regular and
as per commitment. 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
A+ (Long term) |
|
Rating Explanation |
The adequate credit quality it carry average credit risk |
|
Date |
June, 2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
A1+ (Short term) |
|
Rating Explanation |
The highest credit quality it carry lowest credit risk |
|
Date |
June, 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/ Head Office : |
Pirojsha Nagar, Eastern
Express Highway, Vikhroli (East), Mumbai – 400 079,
Maharashtra, India |
|
Tel. No.: |
91-22-25188010/ 25188020/ 25188030/ 25194803 |
|
Fax No.: |
91-22-25188485 |
|
E-Mail : |
upendra.pathak@godrejagrovet.com
|
|
Website : |
|
|
|
|
|
Factory/ Plant Biotech Division : |
148/B, Kandalkoi, Medchal,
R.R. District - 501 403, Andhra Pradesh, India |
|
Tel. No.: |
91-40-23792091 |
|
Fax No.: |
91-40-23792092 |
|
|
|
|
Branches : |
Located at: ·
Ludhiana ·
Bangalore ·
Kolkata ·
Pune ·
Chandigarh ·
Secundrabad |
DIRECTORS
As on 01.08.2012
|
Name : |
Mr. Nadir Burjorji Godrej |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
40-D, B. G. Kher Marg,
Mumbai – 400 006, Maharashtra, India |
|
Date of Birth/Age : |
26.08.1951 |
|
Qualification : |
B.S. Chem. Engg. (MIT, USA), M.S. Chem. Engg. (Stanford, USA), MBA |
|
Date of Appointment : |
25.11.1991 |
|
DIN No.: |
00066195 |
|
Voter ID No.: |
MT/04/024/099721 |
|
|
|
|
Name : |
Mr. Balram Singh Yadav
|
|
Designation : |
Managing Director |
|
Address : |
Bunglow No. G9/ 1, Godrej
Hillside Colony, LBS Marg, Vikhroli
(West), Mumbai – 400 079, Maharashtra, India |
|
Date of Birth/Age : |
15.07.1964 |
|
Qualification : |
B.Sc. (Hons.) Agri.
Sci., PGDM(A) (IIM - A) |
|
Date of Appointment : |
20.05.2009 |
|
DIN No.: |
00294803 |
|
|
|
|
Name : |
Adi Barjorji Godrej |
|
Designation : |
Director |
|
Address : |
Aashraye Godrej House,
67-H, Walkeshwar Road, Mumbai – 400 006, Maharashtra, India |
|
Date of Birth/Age : |
03.04.1942 |
|
Qualification : |
B.S., M. S., Engg and Industrial Management,
(MIT, USA) |
|
Date of Appointment : |
25.11.1991 |
|
DIN No.: |
00065964 |
|
Voter ID No.: |
MT/04/024/273279 |
|
|
|
|
Name : |
Mr. Jamshyd Naoroji
Godrej |
|
Designation : |
Director |
|
Address : |
40-D, B.G. Kher Marg,
Mumbai – 400 006, Maharashtra, India |
|
Date of Birth/Age : |
24.01.1949 |
|
Qualification : |
B.S., M. S., (Illinois Institute of Technology, USA) |
|
Date of Appointment : |
24.08.1992 |
|
DIN No.: |
00076250 |
|
Voter ID No.: |
MT/04/024/099982 |
|
|
|
|
Name : |
Mr. Vijay Mohan Crishna |
|
Designation : |
Director |
|
Address : |
A – 261 Grand Paradi Apartments, Dadyseth Hill, Off Augustkranti
Marg, Mumbai – 400 026, Maharashtra,
India |
|
Date of Birth/Age : |
08.03.1945 |
|
Qualification : |
B.A. Economics (St. Stephens College University of Delhi) |
|
Date of Appointment : |
24.08.1992 |
|
DIN No.: |
00066267 |
|
Voter ID No.: |
MT/04/024/009615 |
|
|
|
|
Name : |
Mr. Kavas Noshirwan Petigara |
|
Designation : |
Director |
|
Address : |
801 Citadel, 18-B, Ruparel Marg, Malabar Hill, Mumbai – 400 006, Maharashtra,
India |
|
Date of Birth/Age : |
10.07.1948 |
|
Qualification : |
S.B., S.M, Chem. Engg, (MIT USA) |
|
Date of Appointment : |
24.08.1992 |
|
DIN No.: |
00066162 |
|
Voter ID No.: |
MT/04/024/108029 |
|
|
|
|
Name : |
Mrs. Tanya Arvind Dubash |
|
Designation : |
Director |
|
Address : |
Hasman Bunglow, 89B, Bhulabhai Desai Road, Mumbai – 400 026, Maharashtra, India |
|
Date of Birth/Age : |
14.09.1968 |
|
Qualification : |
A.B. (Economics) |
|
Date of Appointment : |
10.04.2003 |
|
DIN No.: |
00026028 |
|
|
|
|
Name : |
Mr. Sudheer Laxman
Anaokar |
|
Designation : |
Director |
|
Address : |
A-204 Centre Point, Panchpakhadi, Opposite
Thane Municipal Corporation, Thane – 400 602, Maharashtra,
India |
|
Date of Birth/Age : |
04.01.1943 |
|
Qualification : |
M.V. Sc, Ph. D |
|
Date of Appointment : |
29.06.1998 |
|
DIN No.: |
00236819 |
|
Voter ID No.: |
MT/10/053/031225 |
|
|
|
|
Name : |
Mr. Amit Biren Choudhury |
|
Designation : |
Director |
|
Address : |
Golden Oak, CHS Flat 304, Wing C, Hiranadani
Gardens, Powai, Mumbai - 400 076, Maharashtra, India |
|
Date of Birth/Age : |
26.12.1942 |
|
Qualification : |
M.A. , M.M.S |
|
Date of Appointment : |
08.12.2004 |
|
DIN No.: |
000557547 |
|
Voter ID No.: |
MT/07/049/1291586 |
|
|
|
|
Name : |
Ms. Nisaba Adi Godrej |
|
Designation : |
Director |
|
Address : |
Aashraye Godrej House,
67 H Walkeshwar Road, Mumbai – 400 006, Maharashtra, India |
|
Date of Birth/Age : |
12.02.1978 |
|
Qualification : |
MBA (Harvard Business School), BSSc
Economics (Wharton) |
|
Date of Appointment : |
24.07.2006 |
|
DIN No.: |
00591503 |
KEY EXECUTIVES
|
Name : |
Mr. Atul Gopalkrishna
Juvle |
|
Designation : |
Secretary |
|
Address : |
B14, Amita CHS Limited, Gujarat Society
Road, Vile Parle (East), Mumbai-400057, Maharashtra,
India |
|
Date of Birth/Age : |
24.09.1963 |
|
Date of Appointment : |
09.11.2011 |
|
PAN No.: |
AAJPJ5117A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 01.08.2012
|
Names of Shareholders |
|
No. of Shares |
|
Adi Barjorji Godrej |
|
396 |
|
Nadir Barjorji Godrej |
|
586080 |
|
Godrej Industries Limited, India |
|
9112951 |
|
Rishad K. Naoroji |
|
586080 |
|
Pirojsha Adi Godrej |
|
195360 |
|
Navroze J. Godrej |
|
293040 |
|
Raika J. Godrej |
|
293040 |
|
Nyrika Vijay Crishna |
|
293040 |
|
Freyan Vijay Crishna |
|
293040 |
|
Swadeshi Detergents Limited, India |
|
60550 |
|
Godrej Industries Limited, India jointly with
Subramanian Varadaraj |
|
1 |
|
Godrej Industries Limited, India jointly with Prafulla Janardan Bhat |
|
1 |
|
Godrej Industries Limited, India jointly with Balram Singh Yadav, India |
|
1 |
|
Godrej Industries Limited, India jointly with Pitambar Narayan Narkhede, India |
|
1 |
|
Tanya Arvind
Dubash
|
|
195360 |
|
Nishaba Godraj |
|
195360 |
|
Godrej Industries Limited, India jointly with Govindan Ramakrishna Rishinaradamangalam
|
|
1 |
|
Ensemble Holdings and Finance Limited, India |
|
14450 |
|
Total
|
|
12118752 |
As on 24.12.2012
|
Names of Allottee |
|
No. of Shares |
|
V-Sciences Investments Pte. Limited,
Singapore |
|
518118 |
|
Total
|
|
518118 |
As on 05.12.2012
|
Names of Allottee |
|
No. of Shares |
|
Godrej Agrovet Limited
Employees Stock Option Trust, India |
|
586764 |
|
Total
|
|
586764 |
As on 01.08.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies corporate |
|
75.82 |
|
Directors or relatives of Directors |
|
19.34 |
|
Other top fifty shareholders |
|
4.84 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Selling of Animal Feeds. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
·
State Bank of India, Corporate Accounts
Group-Central, 3rd Floor, State Bank Bhavan,
Madame Cama Road, Mumbai – 400 001, Maharashtra, India
|
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
(A) Term Loan Rs.280.000 Millions (amount due within a year Rs. Nil, Previous year Rs. 280.000 Millions) |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
3i Infotech Trusteeship Services Limited, 3rd to
6th Floor, International Infotech Park,
Tower No.5, Vashi Railway Station Complex, Vashi, Navi Mumbai – 400 703, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Kalyaniwalla and Mistry Chartered Accountants |
|
Address : |
Kalpataru Heritage, 127, Mahatma Gandhi Road,
Mumbai – 400 001, Maharashtra, India |
|
PAN No.: |
AAAFK7554R |
|
|
|
|
Holding Company (As on 31.03.2011) : |
Godrej Industries Limited (GIL), India CIN No.: L24241MH1988PLC097781 Holds 75.19% in the Company. GIL is the subsidiary of Godrej and Boyce Manufacturing Company Limited, the
ultimate Holding Company. |
|
|
|
|
Ultimate Holding Company (As on 31.03.2011) : |
Godrej and Boyce Manufacturing Company Limited, India CIN No.:
U28993MH1932PLC001828 |
|
|
|
|
Subsidiaries (As on 31.03.2011) : |
The Company continues to be the holding Company of :
CIN No.: U15339MH2003PLC140599
CIN No.: U15142MH1996PLC224176
CIN No.: U15122MH2006PLC163857 During the year, the company acquired 10% stake in Godrej
Oil Palm Limited, 51% stake in Godrej IJM Palm Oil
Limited (GIPOL), making it a 100% subsidiary of the company and 51% in
U15142MH2006PLC165582
|
|
|
|
|
Fellow Subsidiaries (As on 31.03.2011) : |
CIN No.: L24246MH2000PLC129806
CIN No.: U32100MH1997PLC106135
CIN No.: U15310MH2008PLC182816
CIN No.: L74120MH1985PLC03530
CIN No.: U24240MH1997PLC105714
CIN No.: U29294MH1993PTC072222 |
|
|
|
|
Joint Ventures (As on 31.03.2011) : |
CIN No.: U15122MH2008PLC177741
CIN No.: U45201MH2006PLC164656
|
|
|
|
|
Associates (As on 31.03.2011) : |
CIN No.: U15201AP1986PLC006912
CIN No.: U24231PN2002PTC016825
|
|
|
|
|
Other Related Parties (As on 31.03.2011) : |
Bahar Agrochem and Feeds Limited), India CIN No.:
U99999MH1986PLC040174 |
CAPITAL STRUCTURE
After 01.08.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
65150000 |
Equity Shares |
Rs.10/- each |
Rs.651.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
13223634 |
Equity Shares |
Rs.10/- each |
Rs.132.236
Millions |
|
|
|
|
|
As on 01.08.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50150000 |
Equity Shares |
Rs.10/- each |
Rs.501.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12118752 |
Equity Shares |
Rs.10/- each |
Rs.121.188
Millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
35000000 |
Equity Shares |
Rs.10/- each |
Rs.350.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12118752 |
Equity Shares |
Rs.10/- each |
Rs.121.188
Millions |
|
|
|
|
|
Note:
Of the above shares,
(a) 9112956 Equity shares of Rs.10/- each fully paid up are held by Godrej Industries Limited the Holding Company.
(b) 5247600 Equity Shares of Rs.10/- each have been issued as fully paid bonus shares by capitalising Securities Premium Account.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
121.188 |
121.188 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
2462.041 |
2751.104 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
2583.229 |
2872.292 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
251.053 |
580.675 |
|
|
2] Unsecured Loans |
|
1358.497 |
400.263 |
|
|
TOTAL BORROWING |
|
1609.550 |
980.938 |
|
|
DEFERRED TAX LIABILITIES |
|
62.082 |
102.004 |
|
|
|
|
|
|
|
|
TOTAL |
|
4254.861 |
3955.234 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
993.579 |
754.307 |
|
|
Capital work-in-progress |
|
157.430 |
76.054 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
2152.335 |
1949.717 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
1456.280
|
1334.991
|
|
|
Sundry Debtors |
|
1188.322
|
935.349
|
|
|
Cash & Bank Balances |
|
297.816
|
92.384
|
|
|
Other Current Assets |
|
0.053
|
0.055
|
|
|
Loans & Advances |
|
1579.577
|
1490.590
|
|
Total
Current Assets |
|
4522.048
|
3853.369 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
1183.368
|
1177.799
|
|
|
Other Current Liabilities |
|
2181.273
|
1441.577
|
|
|
Provisions |
|
205.890
|
58.837
|
|
Total
Current Liabilities |
|
3570.531
|
2678.213 |
|
|
Net Current Assets |
|
951.517
|
1175.156
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
4254.861 |
3955.234 |
|
Note: Balance Sheet for the year 2012 is not available only Profit & Loss
A/c is available.
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
21965.846 |
15983.569 |
13916.059 |
|
|
|
Other Income |
220.235 |
177.693 |
214.578 |
|
|
|
TOTAL (A) |
22186.081 |
16161.262 |
14130.637 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
16684.580 |
-- |
-- |
|
|
|
Purchases of stock-in-trade |
666.727 |
-- |
-- |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(178.173) |
-- |
-- |
|
|
|
Employee benefit expense |
967.748 |
-- |
-- |
|
|
|
Other expenses |
2652.586 |
-- |
-- |
|
|
|
Consumption Materials Changes inventories |
-- |
12831.327 |
11418.405 |
|
|
|
Manufacturing other operating Expenses |
-- |
2815.280 |
2248.445 |
|
|
|
TOTAL (B) |
20793.468 |
15646.607 |
13666.850 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1392.613 |
514.655 |
463.787 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
198.289 |
128.283 |
151.082 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1194.324 |
386.372 |
312.705 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
134.359 |
83.790 |
63.384 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1059.965 |
302.582 |
249.321 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
251.880 |
4.578 |
33.255 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
808.085 |
298.004 |
217.067 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1419.144 |
1320.514 |
1153.509 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
29.795 |
21.707 |
|
|
|
Dividend |
NA |
145.425 |
24.236 |
|
|
|
Tax on Dividend |
NA |
24.153 |
4.120 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
1419.144 |
1320.514 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
11.600 |
7.320 |
|
|
TOTAL EARNINGS |
NA |
11.600 |
7.320 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
295.178 |
|
|
|
Stores & Spares |
NA |
NA |
18.832 |
|
|
TOTAL IMPORTS |
NA |
NA |
314.010 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
66.68 |
24.59 |
17.91 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.64
|
1.84
|
1.54 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.83
|
1.89
|
1.79 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
5.49
|
5.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.12
|
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
NA
|
0.62
|
0.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA
|
1.27
|
1.44 |
LOCAL AGENCY FURTHER INFORMATION
|
Check
List by Info Agents |
Available
in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
No |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last 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 |
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 |
Yes |
|
34)
External Agency Rating, if available |
Yes |
|
Unsecured Loans |
31.03.2011 (Rs.
in Millions) |
31.03.2010 (Rs.
in Millions) |
|
Rupee term loans Banks unsecured |
(A)1350.000 |
400.000 |
|
Working capital loans banks unsecured |
8.497 |
0.000 |
|
Interest accrued due unsecured loans |
0.000 |
0.263 |
|
Total |
1358.497 |
400.263 |
(A) Amount due within a year Rs.1350.000 Millions (Previous
year Rs. Nil)
AMALGAMATION OF
GODREJ GOLD COIN AQUAFEED LIMITED (GGCAL)
(a) A scheme of Amalgamation ("the Scheme") for the amalgamation of Godrej Gold Coin Aquafeed Limited (GGCAL) (a 100% Subsidiary of the Company), (called "the Transferor Company"), with Godrej Agrovet Limited (the " Transferee Company"), with effect from April 1, 2010, ("the Appointed date") was sanctioned by the Hon'ble High Court of Judicature at Bombay ("the Court"), vide its Order dated January 5, 2011 and certified copies of the Order of the Court sanctioning the Scheme were filed with the Registrar of Companies, Maharashtra on February 11, 2011 (the "Effective Date").
(b) The amalgamation has been accounted for under the "pooling of interests" method as prescribed by the Accounting Standard AS 14-Accounting for Amalgamations and the specific provisions of the Scheme. Accordingly, the Scheme has been given effect to in these accounts and all the assets and liabilities of the Transferor Company stand transferred to and vested in the Transferee Company with effect from the Appointed Date and are recorded by the Transferee Company at their book values as appearing in the books of the Transferor Company.
(c) The value of the Net Assets of the Transferor Company taken over by the Transferee Company on Amalgamation is as under:
|
Particulars |
Amount (Rs. in Millions) |
|
Fixed Assets |
301.072 |
|
Cash |
44.489 |
|
Inventories |
50.753 |
|
Debtors and other Receivables |
35.054 |
|
Less: Creditors and other Payables |
(369.196) |
|
|
62.173 |
(d) As per the Scheme of the Arrangement, the Intangibles assets held by GGCAL amounting to Rs.166.914 Millions shall be adjusted against the balance in the Securities Premium Account of the Transferee Company.
(e) The excess of book value of the net assets of the Transferor Company taken over, amounting to Rs.250.571 Millions over the face value of the shares held by the Transferee Company has been credited to the Securities Premium Account as per the Scheme.
(f) Had the Scheme not prescribed the above treatment, the balance in the Securities Premium Account would have been higher by Rs.417.485 Millions and the intangible Assets would have been higher by Rs.166.914 Millions.
(g) Since the aforesaid Scheme of amalgamation of GGCAL with the Company, which is effective from April 1, 2010, has been given effect to in these accounts, the figures for the current year to that extent are not comparable with those of the previous year.
FIXED ASSETS
·
·
·
Building
·
Staff Quarter
·
Plant and Machinery
·
Furniture and Fixture
·
Leasehold Improvement
·
Office and other Equipments
·
Vehicles
·
PRESS RELEASES:
TEMASEK TO INVEST IN
GODREJ AGROVET
December 17, 2012 -
Mumbai:
Godrej Agrovet Limited (GAVL), a subsidiary of Godrej Industries Limited (GIL), announced today that Temasek, an investment company based in Singapore, has entered into a definitive agreement to acquire a 19.99% stake in GAVL for a consideration of Rs.5720.000 millions.
The investment will be a combination of primary and secondary investment with the primary investment intended to support GAVL’s future expansion plans. Nadir Godrej, Chairman of GAVL, said:
“We welcome Temasek as a partner. We believe that their global
credentials, knowledge of agribusiness and excellent track record will be
beneficial to GAVL. Godrej Agrovet
has been a tremendous source of value creation for GIL and continues to be on a
strong revenue and profit trajectory, while delivering excellent returns on
capital employed. Indian agriculture is at an inflection point and with GAVL’s focus on R&D and operational excellence, we
believe that the future looks very bright for the business.”
Balram Singh Yadav, Managing Director of GAVL, added:
“We remain
steadfastly focused on our mission to improve the productivity of Indian
farmers through innovative products and services that sustainably
increase crop and livestock yields. We are aggressively expanding rural
distribution, increasing our manufacturing capacities, and launching cutting
edge technologies for farmers. We look forward to partnering with Temasek to further accelerate our performance.”
Rohit Sipahimalani, Temasek’s Head of India said:
"We are
pleased to have another opportunity to partner with the Godrej
Group in what is an attractive sector in India.”
HSBC acted as the advisor to the transaction.
About Godrej Agrovet Limited
Godrej Agrovet Limited (GAVL) is a diversified agribusiness company dedicated to improving the productivity of Indian farmers by innovating products and services that sustainably increase crop and livestock yields. With FY2011-12 sales of Rs.24600.000 millions, GAVL has interests in animal feed, oil palm, agri-inputs and poultry. The Animal Feed division is the largest manufacturer of compound feed in India, producing more than 1.1 million tons annually of highquality feed and cutting-edge nutrition products for dairy cattle, poultry and aquaculture. The Oil Palm business manages over 45,000 hectares of smallholder cultivation across Andhra Pradesh, Tamil Nadu, Karnataka, Mizoram, Goa, Gujarat, Orissa, Maharashtra, and Chhattisgarh. The Agri-Inputs business is a niche player in innovative agrochemicals, with strong market share in plant growth promoters and herbicides. The Poultry business, best known for the Real Good Chicken and Yummiez brands, is a JV with Tyson Foods (USA). Godrej Agrovet has 45 manufacturing facilities, a network of over 10,000 rural distributors/dealers, and over 2,000 employees dedicated to improving India’s food security.
NEWS:
TEMASEK TO BUY 20% IN
GODREJ INDUSTRIES AGRI UNIT
Press Trust of India
/ Mumbai 17 December 12
Godrej Industries said on Monday Singapore's Temasek will buy 20% stake in the former's agriculture business unit for Rs.5720.000 millions to fund the unit's expansion plans.
This is Temasek's second investment in India's Godrej group this year after it invested $136 million for a 4.9% stake in Godrej Consumer Products Limited early this year.
The agriculture business unit Godrej Agrovet Limited generated Rs.2460 billion rupees in sales during the financial year ended March 2012. The company has interests in animal feed, oil palm, agri-inputs and poultry, Godrej Industries said in a statement.
HSBC was the sole adviser to the transaction.
Private equity investments in India have fallen 17% this year to about $3.3
billion, according to Thomson Reuters data as lack of returns hampered
investment sentiment.
Temasek, which manages about $198 billion globally,
has investments in India's top mobile operator Bharti
Airtel and No.2 Indian lender ICICI Bank.
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 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.54.40 |
|
|
1 |
Rs.81.57 |
|
Euro |
1 |
Rs.71.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
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 |
7 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
63 |
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.