MIRA INFORM REPORT

Report Date :

20.11.2013

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, Dynasty Business Park, 58 Andheri Kurla Road, Andheri (East), Mumbai – 400 059, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
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
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer, Exporter and importer of value added dairy products.
No. of Employees :	550 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

A (61)

RATING		STATUS	PROPOSED CREDIT LINE
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large

Maximum Credit Limit :	USD 13000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Exists
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.

ECGC Country Risk Classification List – March 31^st, 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

INDIAN ECONOMIC OVERVIEW

The current downturn provides an opportunity to push ahead with reforms to accelerate growth, says the latest India Development Update report released by the World Bank. The report says that the adverse effects of rupee depreciation are likely to be offset by the gains in the exports performance due to improved external competitiveness. Since May this year, the local currency has depreciated substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.

A stagflation like situation appears to have arisen as inflation jumped to an eight month high of 6.46 % for the month of September. It is up from 6.10 % in August. Growth continues to be muted with factory output plunging to 0.6  % in August. Onion prices have risen nearly 300 % from last September. Vegetables cost nearly 90 % more than they did last year. Wake up to the economic contribution of slum dwellers. They contribute more than 7.5 % to the country’s gross domestic product, according to a recent study conducted in 50 top cities.

136000 estimated number of jobs created during the second quarter of the current financial year. 50000 estimated number of additional jobs in the field of corporate social responsibility in the coming years.

The International Finance Corporation expects to come out with its rupee linked bonds issue before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been launched in India from 1^st November.

The Land Acquisition Act to provide just and fair compensation to farmers will come into force from January 1 next year, said Rural Development Minister Jairam Ramesh. The Act replaces a 119 year old registration. The Securities and Exchange Board of India has approved the trading of currency futures on the Bombay Stock Exchange. The exchange plans to launch the currency futures platform with advanced trading technology by the end of November.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long term rating : AA-
Rating Explanation	High degree of safety and carry low credit risk.
Date	02.09.2013

Rating Agency Name	CRISIL
Rating	Short term rating: A1+
Rating Explanation	Very strong degree of safety and carry lowest credit risk.
Date	02.09.2013

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION PARTED BY

Name :	Ms. Anjali Gupta
Designation :	Account Department
Contact No.:	91-22-67711900
Date :	16.11.2013

LOCATIONS

Registered / Corporate Office :	A-306/307, Dynasty Business Park, 58 Andheri Kurla Road, Andheri (East), Mumbai – 400 059, Maharashtra, India
Tel. No.:	91-22-67711900/ 903 / 28402304
Fax No.:	91-22-67711910
E-Mail :	praveen.heda@schreiberfoods.com hemant.kothari@schreiberfoods.com info@dynamixdairy.com jay.sharma@schreiberfoods.com
Website :	www.schreiberfoods.com
Area :	5000 sq. ft.
Location :	Owned
Factory :	E-94, MIDC, Bhigwan Road, Baramati, District Pune – 413 133, Maharashtra, India
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, 3^rd Cross Road Lokhandwala Complex, Andheri (West), Mumbai – 400 058, Maharashtra, India.

Date of Birth/Age :

23.08.1949

Date of Appointment :

18.11.2011

Qualification :

B.E.(Elect); PG in Control Engineering

Pan No.:

AABPR0328P

DIN No.:

00082806

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U28920MH1968PTC014006	FAIRLON ENGINEERING PRIVATE LIMITED	Director	16/09/1989	16/09/1989	-	Active	NO
2	U01122PN2001PLC016511	SHARAD AGRO PROCESSORS LIMITED	Director	18/01/2002	18/01/2002	04/01/2011	Active	NO
3	U99999MH1992PLC066700	SCHREIBER DYNAMIX DAIRIES LIMITED	Managing director	18/11/2011	18/11/2005	-	Active	NO

Name :

Mr. Pramod Krishnamoorary Goenka

Designation :

Director

Address :

501, 5^th Floor, Kings Apartment, Juhu Tara Raod, Juhu, Mumbai – 400 049, Maharashtra, India

Date of Birth/Age :

31.12.1961

Date of Appointment :

09.06.2001

Qualification :

B.Com

DIN No.:

00029243

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U36910MH1995PTC088038	SAY INDIA JEWELLERS PRIVATE LIMITED	Managing director	04/05/1995	04/05/1995	-	Active	NO
2	U15990MH1987PTC044777	CONWOOD INVESTMENTS PRIVATE LIMITED	Director	21/03/1996	21/03/1996	-	Amalgamated	NO
3	U45200MH1978PTC020735	CONWOOD CONSTRUCTION COMPANY PRIVATE LIMITED	Director	01/04/1999	01/04/1999	-	Amalgamated	NO
4	U99999MH1992PLC066700	SCHREIBER DYNAMIX DAIRIES LIMITED	Director	09/06/2001	09/06/2001	27/08/2013	Active	NO
5	U36911MH2004PTC144344	LILY JEWELLERY PRIVATE LIMITED	Director	03/02/2004	03/02/2004	-	Active	NO
6	U45201MH2004PTC144704	GOKULDHAM REAL ESTATE DEVELOPMENT COMPANY PRIVATE LIMITED	Director	25/02/2004	25/02/2004	01/09/2009	Active	NO
7	U65990MH1994PTC080250	DYNAMIX SECURITIES AND HOLDINGS PRIVATE LIMITED	Director	28/06/2004	28/06/2004	-	Active	NO
8	U36910MH2005PTC150740	ROLLY JEWELLERY PRIVATE LIMITED	Director	19/01/2005	19/01/2005	11/10/2012	Active	NO
9	U36100MH2005PTC156430	DANIA ORO JEWELLERY PRIVATE LIMITED	Director	29/09/2005	29/09/2005	-	Active	NO
10	U55101MH2004PTC149876	ALMANAC HOTELS PRIVATE LIMITED	Additional director	08/12/2005	08/12/2005	-	Dormant	NO
11	U55101MH2004PTC149219	GOAN HOTELS AND CLUBS PRIVATE LIMITED	Director	12/12/2005	12/12/2005	30/07/2009	Active	NO
12	U74899MH1991PTC170072	ASTALAKSHMI FINANCIAL AND INVESTMENT SERVICES PRIVATE LIMITED	Director	30/09/2006	31/12/2005	-	Active	NO
13	U55200MH1983PTC031709	CONSORT HOTELS PRIVATE LIMITED	Director	29/09/2006	17/01/2006	02/04/2008	Active	NO
14	U24239MH1959PTC011443	ANILINE CONSTRUCTION COMPANY PRIVATE LIMITED	Director	30/09/2006	20/05/2006	21/02/2008	Active	NO
15	U45200MH1986PTC039169	PRIYA CONSTRUCTIONS PRIVATE LIMITED	Director	29/09/2006	06/07/2006	02/04/2008	Active	NO
16	U70101MH1989PTC052891	HIRACON PROPERTIES PRIVATE LIMITED	Director	30/09/2006	06/07/2006	-	Active	NO
17	U45200MH1988PTC047902	KALPATARU PLAZA PRIVATE LIMITED	Director	06/07/2006	06/07/2006	-	Active	NO
18	U27200MH1946PLC005069	THE CRESCENT IRON AND STEEL CORPORATION LIMITED	Director	30/09/2006	06/07/2006	-	Active	NO
19	U45200MH1989PTC154095	GOAN REAL ESTATE AND CONSTRUCTION PRIVATE LIMITED	Director	28/09/2012	06/07/2006	01/04/2013	Active	NO
20	U70100MH1979PTC021291	EVERSMILE PROPERTIES PRIVATE LIMITED	Director	06/07/2006	06/07/2006	02/01/2009	Active	NO
21	U55200MH1993PTC075524	DYNAMIX CLUBS AND RESORTS PRIVATE LIMITED	Director	30/09/2006	06/07/2006	02/04/2008	Active	NO
22	U70100MH1982PTC092727	EXCON DEVELOPERS PRIVATE LIMITED	Director	06/07/2006	06/07/2006	02/04/2008	Active	NO
23	U45200MH1990PTC056103	HILLSIDE CONSTRUCTIONS COMPANY PRIVATE LIMITED	Director	06/07/2006	06/07/2006	02/04/2008	Active	NO
24	U62200MH1982PTC026216	YJ REALTY AND AVIATION PRIVATE LIMITED	Director	30/09/2006	08/07/2006	-	Active	NO
25	U01110MH1994PTC077262	DYNAMIX FLORICULTURE PRIVATE LIMITED	Director	29/09/2006	14/08/2006	22/06/2009	Active	YES
26	U70100MH1979PTC020933	CONWOOD CONSTRUCTION AND DEVELOPERS PRIVATE LIMITED	Director	30/12/2006	14/08/2006	-	Active	NO
27	U01110MH1994PTC078964	MALDUNGE FARMING AND AGRO PRODUCE PRIVATE LIMITED	Director	14/08/2006	14/08/2006	-	Active	NO
28	U01110MH1994PTC083103	MALDUNGE RETREAT AND FARMING PRIVATE LIMITED	Director	29/09/2006	14/08/2006	-	Active	NO
29	U27205MH2006PTC165520	YASH JEWELLERY PRIVATE LIMITED	Director	13/11/2006	13/11/2006	-	Active	NO
30	U70100MH2004PTC149602	D B HOSPITALITY PRIVATE LIMITED	Director	15/11/2006	15/11/2006	07/03/2009	Active	NO
31	U55101MH2006PTC165933	DYNAMIX DEVELOPERS PRIVATE LIMITED	Director	01/12/2006	01/12/2006	03/12/2011	Active	NO
32	U70102MH2006PTC165917	KUSEGAON REALTY PRIVATE LIMITED	Director	01/12/2006	01/12/2006	14/07/2008	Active	NO
33	U45209MH2006PTC166097	PERFECT SPACECON PRIVATE LIMITED	Director	08/12/2006	08/12/2006	14/07/2008	Active	NO
34	U36911RJ2006PTC023478	LAKHA GEMS PRIVATE LIMITED	Director	15/12/2006	15/12/2006	-	Active	NO
35	U01119MH2006PTC166319	SAHYADRI GRAPE PLANTATION PRIVATE LIMITED	Director	19/12/2006	19/12/2006	14/07/2008	Active	NO
36	U01119MH2006PTC166452	SAHYADRI ORGANIC FARMING PRIVATE LIMITED	Director	22/12/2006	22/12/2006	14/07/2008	Active	NO
37	U55101MH2007PTC166968	YADGAR HOTELS PRIVATE LIMITED	Director	11/01/2007	11/01/2007	14/07/2008	Active	NO
38	U51909MH2007PTC166973	YASH FRUIT TRADING AND PACKAGING PRIVATE LIMITED	Director	12/01/2007	12/01/2007	14/07/2008	Active	NO
39	U70102MH2007PTC166974	MAN CHANDAK DEVELOPERS PRIVATE LIMITED	Director	12/01/2007	12/01/2007	14/07/2008	Active	NO
40	L70200MH2007PLC166818	D B REALTY LIMITED	Director	13/08/2007	10/02/2007	07/03/2009	Active	NO
41	U45200MH1982PTC026500	EVERSMILE CONSTRUCTION COMPANY PRIVATE LIMITED	Director	28/09/2012	19/05/2007	-	Active	NO
42	U99999MH1975PTC018511	CONWOOD AGENCIES PRIVATE LIMITED	Director	29/09/2007	19/05/2007	02/04/2008	Active	NO
43	U55101MH1997PTC107571	BD AND P HOTELS (INDIA) PRIVATE LIMITED	Additional director	29/09/2007	29/09/2007	10/06/2008	Active	NO
44	U36911MH2007PTC175044	DYNAMIX CHAINS MANUFACTURING PRIVATE LIMITED	Director	29/09/2008	18/10/2007	-	Active	NO
45	U70102MH2007PTC176761	CONWOOD REALTY PRIVATE LIMITED.	Director	13/12/2007	13/12/2007	11/03/2010	Active	NO
46	U45200MH2004PTC144751	TRIDENT ESTATES PRIVATE LIMITED	Director	30/09/2008	08/02/2008	07/12/2009	Active	NO
47	U52393MH2008PTC178687	MAGIC JEWELLERY PRIVATE LIMITED	Director	09/02/2008	09/02/2008	-	Strike off	NO
48	U74210MH1992PTC068584	INDOCON DEVELOPERS PRIVATE LIMITED	Director	30/09/2009	01/04/2008	-	Active	NO
49	U51900MH1989PTC052409	COGENT JEWELLERY PRIVATE LIMITED	Director	27/05/2008	27/05/2008	-	Active	NO
50	U45200MH2008PTC181214	MODERN HI-TECH DEVELOPERS PRIVATE LIMITED	Director	30/09/2009	09/07/2008	-	Active	NO
51	U92120MH2008PTC185498	MILAN THEATRES PRIVATE LIMITED	Director	05/08/2008	05/08/2008	-	Active	NO
52	U74120PN2010PTC148843	ASTORIA AGRO AND ALLIED INDUSTRIES PRIVATE LIMITED	Director	23/04/2010	23/04/2010	-	Active	NO
53	U93090MH2010PTC210667	NASCENT JEWELLERY PRIVATE LIMITED	Director	10/01/2011	10/01/2011	-	Active	NO
54	U01403MH2010PLC208645	SAHYADRI AGRO AND DAIRY LIMITED	Director	02/03/2012	15/01/2011	-	Active	NO
55	U55100MH2012PTC231311	LIGHT BREW HOSPITALITY PRIVATE LIMITED	Director	21/05/2012	21/05/2012	10/07/2012	Active	NO
56	U01110PN1994PLC132478	SAHYADRI COW FARMS LIMITED	Managing director	13/10/2012	31/05/2012	-	Active	NO
57	U65923MH2012PTC235054	ASTERISK AGRO AND ALLIED INDUSTRIES INVESTMENTS PRIVATE LIMITED	Director	28/08/2012	28/08/2012	-	Active	NO

Name :

Mr. Gobind Kaliandas Dryanani

Designation :

Director

Address :

Flat No. 24, 2^nd Floor, Chitrakut Building, Altamount Road, Mumbai – 400 026, Maharashtra, India

Date of Birth/Age :

13.08.1933

Date of Appointment :

24.06.2005

Qualification :

Matriculation

DIN No.:

00324867

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U70100MH1979PTC021117	DARYANANI (INDO-SALGAON) CONSTRUCTIONS PRIVATE LIMITED	Director	17/03/1979	17/03/1979	-	Active	NO
2	U17120MH1951PTC008567	SWASTIK RAYON MILLS PRIVATE LIMITED	Director	24/03/1981	24/03/1981	-	Active	NO
3	U99999MH1969PTC014494	GLASS CONTAINERS PRIVATE LIMITED	Director	24/03/1981	24/03/1981	-	Active	NO
4	U45200MH1989PTC154095	GOAN REAL ESTATE AND CONSTRUCTION PRIVATE LIMITED	Director	10/02/1992	10/02/1992	11/07/2011	Active	NO
5	U65990MH1994PTC081606	DARYANANI (INDO SAIGON) INVESTMENTS PRIVATE LIMITED	Director	29/09/1994	29/09/1994	-	Active	NO
6	U45201KA1995PTC017874	SONATA BUILDERS PRIVATE LIMITED	Director	31/08/2000	31/08/2000	-	Strike off	NO
7	U45201KA1995PTC017959	INDO SAIGON DEVELOPERS PRIVATE LIMITED	Director	31/08/2000	31/08/2000	-	Active	NO
8	U70109KA1995PTC017873	FINESSE DEVELOPERS PRIVATE LIMITED	Director	31/08/2000	31/08/2000	-	Strike off	NO
9	U62200MH1982PTC026216	YJ REALTY AND AVIATION PRIVATE LIMITED	Director	04/09/2004	04/09/2004	-	Active	NO
10	U99999MH1992PLC066700	SCHREIBER DYNAMIX DAIRIES LIMITED	Director	24/06/2005	24/06/2005	-	Active	NO
11	U55101MH1997PTC107571	BD AND P HOTELS (INDIA) PRIVATE LIMITED	Director	23/08/2006	23/08/2006	27/09/2007	Active	NO
12	U45400MH2007PTC172316	GOLDENDREAMS BUILDCON PRIVATE LIMITED	Director	06/12/2008	15/02/2008	12/12/2011	Active	NO

Name :

Mr. Craig Edward Newman

Designation :

Director

Address :

2923 Nikki Lee Court Green Bay Wisconcin Wisconcin – 054313, United State of America

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. Krishna Murari Goenka

Designation :

Director

Address :

51 A, Shruti Yashodhamgen AK Vaidya Marg, Goregaon East, Mumbai – 400063, Maharashtra, India

Date of Birth/Age :

06.12.1936

Date of Appointment :

11.05.1992

Qualification :

B.Com

Pan No.:

AFLPG2767G

DIN No.:

00029591

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U99999MH1982PTC091647	CONWOOD CHEMICAL INDUSTRIES PRIVATE LIMITED	Director	12/04/1984	12/04/1984	-	Strike off	NO
2	U99999MH1992PLC066700	SCHREIBER DYNAMIX DAIRIES LIMITED	Director	11/05/1992	11/05/1992	-	Active	NO
3	U74140DL2004NPL125424	CENTRE FOR INTERNATIONAL TRADE IN AGRICULTURE AND AGRO BASED INDUSTRIES	Director	25/03/2004	25/03/2004	29/01/2007	Active	NO
4	U20291GJ1963PTC001226	DENSE WOOD PRIVATE LIMITED	Director	29/09/2007	25/11/2006	12/04/2012	Active	NO
5	U45200MH1989PTC154095	GOAN REAL ESTATE AND CONSTRUCTION PRIVATE LIMITED	Director	25/11/2006	25/11/2006	16/08/2007	Active	NO
6	U45202MH1982PTC027927	SPAN CONSTRUCTION COMPANY PRIVATE LIMITED	Director	25/11/2006	25/11/2006	-	Active	NO
7	U70102MH2006PTC165917	KUSEGAON REALTY PRIVATE LIMITED	Director	01/12/2006	01/12/2006	14/07/2008	Active	NO
8	U45209MH2006PTC166097	PERFECT SPACECON PRIVATE LIMITED	Director	08/12/2006	08/12/2006	14/07/2008	Active	NO
9	U70102MH2007PTC166974	MAN CHANDAK DEVELOPERS PRIVATE LIMITED	Director	12/01/2007	12/01/2007	14/07/2008	Active	NO
10	U01110MH1993PTC070820	SAHAPUR PLANTATIONS AND ORCHARD PVT LTD	Director	29/09/2007	05/03/2007	-	Active	NO
11	U70102MH2007PTC176761	CONWOOD REALTY PRIVATE LIMITED	Director	13/12/2007	13/12/2007	10/01/2010	Active	NO
12	L70200MH2007PLC166818	D B REALTY LIMITED	Director	21/09/2011	21/04/2011	10/12/2011	Active	NO
13	U70100MH2004PTC149602	D B HOSPITALITY PRIVATE LIMITED	Alternate director	02/07/2011	02/07/2011	10/12/2011	Active	NO
14	U01110PN1994PLC132478	SAHYADRI COW FARMS LIMITED	Additional director	04/09/2013	31/01/2012	-	Active	NO

Name :

Mr. Francois Salamon

Designation :

83 Boulevard De Courcelles 75008 Paris O8 Paris - 75008

Address :

Director

Date of Birth/Age :

23.07.2013

Date of Appointment :

18.07.2013

DIN No.:

06404133

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U99999MH1992PLC066700	SCHREIBER DYNAMIX DAIRIES LIMITED	Director	18/07/2013	30/11/2012	-	Active	NO

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 :	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.

Products :

Product Description	Item Code No.
Butter	04-05-001
Skimmed Milk Powder	04-02-002
Processed Cheese	04-05-003

Exports :

Products :

Finished Goods

Countries :

· UK

· USA

Imports :

Products :

Raw Materials

Countries :

USA

Terms :

Selling :

L/C / Credit

Purchasing :

L/C / Credit

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

No. of Employees :

550 (Approximately)

Bankers :

· State Bank of India, MIDC, Andheri (East), Mumbai - 400093, Maharashtra, India

Tel. No.: 91-22-28380058

· Yes Bank Limited, 9th Floor, Nehru Centre, Discovery Of India, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India

Tel. No.: 91-22-66699000

Facilities :

Secured Loan	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
Short-term Borrowings
Other loans and advances, others	436.913	54.727
Total	436.913	54.727

Banking Relations :
Financial Institution :	Rabo India Finance Limited, Forbes Building ; IInd Floor, Mumbai, Maharashtra, India
Auditors :
Name :	S.R. Batliboi and Company Chartered Accountants
Address :	22 Camac, Street Block, C, 3 Road, Floor
PAN.:	ABSFS4151K
Ultimate Holding company:	· Schreiber Foods Inc
Holding company:	· Schreiber International Inc
Fellow Subsidiary company:	· GBM Green Bay Machinery Company Inc
Associate:	· Consort Hotels Private Limited , India CIN: U55200MH1983PTC031709 · Conwood Construction And Developers Private Limited, India CIN: U70100MH1979PTC020933 · Dania Oro Jewellery Private Limited, India CIN: U36100MH2005PTC156430 · Conwood D B jointventure · Dlecta Foods Private Limited, India CIN: U51900MH1982PTC027524 · Dynamix Chains Manufacturing Private Limited, India CIN: U36911MH2007PTC175044 · Lily Jewellery Private Limited, India CIN: U36911MH2004PTC144344 · Rolly Jewellery Private Limited, India CIN: U36910MH2005PTC150740 · Say India Jewellers Private Limited, India CIN: U36910MH1995PTC088038 · Yash Jewellery Private Limited, India CIN: U27205MH2006PTC165520 · Sahyadri Agro And Dairy Limited, India CIN: U01403MH2010PLC208645 · Sahyadri Cow Farms Limited, India CIN: U01110PN1994PLC132478

CAPITAL STRUCTURE

As on 31.03.2013

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

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	950.962	950.962	950.962
(b) Reserves & Surplus	2266.412	1894.131	1549.717
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	3217.374	2845.093	2500.679
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	10.258
(b) Deferred tax liabilities (Net)	157.230	180.856	205.616
(c) Other long term liabilities	0.000	0.000	4.218
(d) long-term provisions	121.258	107.135	98.998
Total Non-current Liabilities (3)	278.488	287.991	319.090
(4) Current Liabilities
(a) Short term borrowings	436.913	54.727	182.907
(b) Trade payables	748.665	694.001	529.872
(c) Other current liabilities	187.656	320.945	296.804
(d) Short-term provisions	59.182	54.332	10.538
Total Current Liabilities (4)	1432.416	1124.005	1020.121
TOTAL	4928.278	4257.089	3839.890
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1571.993	1705.589	1849.763
(ii) Intangible Assets	0.381	9.729	19.031
(iii) Capital work-in-progress	140.039	45.666	53.614
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.820	0.820	0.820
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	252.592	66.041	30.915
(e) Other Non-current assets	8.595	5.761	5.450
Total Non-Current Assets	1974.420	1833.606	1959.593
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1712.811	1656.401	1254.705
(c) Trade receivables	740.141	456.183	434.192
(d) Cash and cash equivalents	312.282	234.774	52.184
(e) Short-term loans and advances	133.499	66.182	136.750
(f) Other current assets	55.125	9.943	2.466
Total Current Assets	2953.858	2423.483	1880.297
TOTAL	4928.278	4257.089	3839.890

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	11026.548	10373.343	9362.935
		Other Income	98.734	15.307	111.729
		TOTAL (A)	11125.282	10388.650	9474.664
Less	EXPENSES
		Cost of materials consumed	8152.711	8280.335	7459.659
		Purchases of stock-in-trade	155.139	164.561	110.192
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	172.271	(404.005)	31.951
		Employee benefit expense	484.855	406.981	362.302
		Other expenses	1345.595	1189.842	1071.429
		TOTAL (B)	10310.571	9637.714	9035.533
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		814.711	750.936	439.131
Less	FINANCIAL EXPENSES (D)		18.164	5.055	19.463
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		796.547	745.881	419.668
Less/ Add	DEPRECIATION/ AMORTISATION (F)		239.450	234.253	223.207
	PROFIT BEFORE TAX (E-F) (G)		557.097	511.628	196.461
Less	TAX (H)		184.816	167.214	65.849
	PROFIT AFTER TAX (G-H) (I)		372.281	344.414	130.612
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1502.413	1157.999	1027.387
	BALANCE CARRIED TO THE B/S		1874.694	1502.413	1157.999
	EARNINGS IN FOREIGN CURRENCY
		Exports on FOB basis	1548.997	214.233	1447.871
	TOTAL EARNINGS		1548.997	214.233	1447.871
	IMPORTS
		Raw Materials	781.458	486.752	372.147
		Stores, Spares parts, Components, Packing Material	160.125	35.508	78.334
		Capital goods	0.153	0.000	0.000
	TOTAL IMPORTS		941.736	522.260	450.481
	Earnings Per Share (Rs.)		3.91	3.62	1.37

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	3.35	3.32	1.38
Net Profit Margin (PBT/Sales)	(%)	5.05	4.93	2.10
Return on Total Assets (PBT/Total Assets}	(%)	11.64	12.158	5.19
Return on Investment (ROI) (PBT/Networth)		0.17	0.18	0.08
Debt Equity Ratio (Total Debt /Networth)		0.14	0.02	0.08
Current Ratio (Current Asset/Current Liability)		2.06	2.16	1.84

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	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	Yes
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

LITIGATION DETAILS

CASE DETAILS

BENCH:-BOMBAY

Lodging No.:-

RPAL/19/2013

Filing Date:-

01/03/2013

Reg. No.:-

RPA/48/2013

Reg. Date:-

17/10/2013

Main Matter
Lodging No.:-	ITXAL/550/2011	Reg No.:-	ITXA/1381/2011

Petitioner:-

Commissioner of Income Tax Central -I

Respondent:-

M/S Schriber Dynamix Dairies Limited

Petn.Adv.:-

P C Chhotaray

Resp.Adv.:-

0

District:-

MUMBAI

Bench:-	SINGLE
Status:-	Pre-Admission	Category:-	REVIEW PETITIONS.

Last Date:-

29/08/2013

Stage:-

FOR REJECTION [ORIGINAL SIDE MATTERS]

Last Coram:-

REGISTRAR(OS)/PROTHONOTARY & SR. MASTER

Act :-

Income Tax Act, 1961

Under Section:-

260A

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

During the year, Maharashtra State experienced severe drought which affected so many districts including Pune, Ahmednagar, Beed, Satara, Aurangabad, Usmanabad and Sholapur. These are the main milk shed areas which supply milk to our plant. The situation became very critical in view of acute scarcity of water and is likely to remain as such till adequate rain fall in coming monsoon. Consequently milk production has also deteriorated however every possible effort has been made to procure water and milk from all available sources.

PERFORMANCE AND PROSPECTS

During the year the performance of your Company has been exceedingly well and achieved a high rate of growth with the increased turnover and profitability. However the significant inflation in prices of milk, raw material, packing materials and other key inputs laid tremendous pressure on the margins of the business and adversely affected the performance of the Company.

The Company is focused on long term, sustainable and profitable growth which has over the years built relationship, trust and confidence with customers and suppliers.

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 EISEN-BOERENLEENBANK B.A.)	FORBES BUILDING, 2ND FLOOR, CHARANJIT RAI MARG, F ORT, 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. ANNIE BESANT ROAD, WORLI, MUMBAI, MAHARASHTRA - 400018, INDIA	B57523557
3	10091333	26/02/2007	762,800,000.00	STATE BANK OF INDIA	DECCAN GYMKHANA BRANCH, 2ND FLOOR, PMT BUILDING, PUNE, MAHARASHTRA - 413102, INDIA	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	-

FIXED ASSETS

Tangible assets

· Land

· Buildings

· Plant and equipment

· Furniture and fixtures

· Vehicles

· Leasehold improvements

Intangible assets

· Computer software

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

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 records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.23
UK Pound	1	Rs.100.18
Euro	1	Rs.84.06

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	KVT

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	8
--CREDIT LINES	1~10	6
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--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		61

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.