|
Report Date : |
30.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
KAMANI OIL INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
24.10.2002 |
|
|
|
|
Com. Reg. No.: |
11-137681 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 357.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15140MH2002PTC137681 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK17979D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCK4395B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of Refining of Crude Edible Oil and
Manufacturing of Vanaspati, Bakery Shortenings, and Specialty Fats also engaged
in Trading of Various Edible Oil Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2997000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. Company has incurred loss from its operations. However, networth of
the company appears to be strong. Liquidity position seems to be good. Rating also takes into consideration Kamani Oil’s established market
position in edible oil industry. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be slow but correct. The company can be considered for 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 |
INDIAN ECONOMIC OVERVIEW
India’s current
account deficit or CAD in April-June widened to 4.9 % of gross domestic product.
High imports of gold and oil led to a worsening of the trade deficit, resulting
in CAD jumping to $ 21.8 billion to the latest quarter from $ 16.9 billion in
the corresponding quarter of the previous financial year. The government aims
to bring down CAD to 3.7 % or $ 70 billion, in 2013/14, from 4.8 % or $ 88.2
billion in 2012/13.
The finance ministry
has started preparations for Budget 2014/15. With general elections scheduled
to be held by May next year, there will only be an interim budget. The new
government will present the fiscal Budget.
The Supreme Court
has barred clinical trials for new drugs till a monitoring mechanism is put in
place to protect the lives of people on which the drugs are tested.
Mumbai has been named
the world’s second most honest city according to a survey on 15 cities
worldwide by Readers’ Digest magazine. Finnish capital Helsinki bagged the top
spot for the world’s most honest city while Lisbon, the capital of Portugal,
proved to be the least honest. The survey put hundreds of people to test
in four continents to find out just how honest they were by dropping wallets
and seeing how many would be returned.
3.7 % Growth of the
core sector in August, a seven month high. This takes the overall growth in
April-August this year to 2.3 % compared with 6.3 % in the corresponding period
next financial year.
$19 million
Estimated average spending by companies across the globe including India, on
social media this year, according to a global study by information technology
major Tata Consultancy Services. This will rise to $ 24 million in 2015.
Rising inflation,
fewer employment avenues and dwindling earnings are taking a toll on the
spending capacity in India. Over 72 % respondents from middle and lower middle
income families would be forced to slash their Diwali expenditure by 40 % and
on average spend nearly 25 % of their monthly salary on Diwali, according to a
survey by Assochem.
Analysts believe the
shutdown of the US government would have limited impact in sectors such as IT
or tourism that are dependent on Visa clearances.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : BBB |
|
Rating Explanation |
Moderate credit quality and average credit
risk. |
|
Date |
July 04, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
July 04, 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
Pooran Asha Building, Ground Floor, 317, Narsi Natha Street, Mumbai -
400009, Maharashtra, India |
|
Tel. No.: |
91-22-28478811/ 2/ 3 |
|
Fax No.: |
91-22-28478805 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Located at: Khopoli, District Raigad, |
|
|
|
|
Branch Office : |
Located at: · Chandivali Estate, Saki Vihar Road, Mumbai – 400072, Maharashtra, India Ahmedabad Jaipur Pune |
DIRECTORS
AS ON 29.08.2012
|
Name : |
Mr. Rajasekar Ramaraj |
|
Designation : |
Director |
|
Address : |
1-D, Aum Apartments, 26, Kothari Road, Nungambakkam, Chennai – 600034,
Tamilnadu, India |
|
Date of Birth/Age : |
16.02.1950 |
|
Date of Appointment : |
18.02.2012 |
|
DIN No.: |
00090279 |
|
|
|
|
Name : |
Mr. Nandlal Hassanand Chawla |
|
Designation : |
Director |
|
Address : |
4A, Jivan Niwas, 87, Worli Sea Face, Mumbai - 400030,
Maharashtra, India |
|
Date of Birth/Age : |
09.06.1939 |
|
Date of Appointment : |
24.10.2002 |
|
PAN No.: |
AABPC1546N |
|
DIN No.: |
00763037 |
|
|
|
|
Name : |
Mr. Vinay Tarachand Chawla |
|
Designation : |
Director |
|
Address : |
3A, Jivan Niwas, 87, Worli Sea Face, Mumbai - 400030,
Maharashtra, India |
|
Date of Birth/Age : |
19.06.1979 |
|
Date of Appointment : |
24.10.2002 |
|
PAN No.: |
ABOPC7671E |
|
DIN No.: |
00763078 |
|
|
|
|
Name : |
Mr. Prakash Nandlal Chawla |
|
Designation : |
Director |
|
Address : |
4A, Jivan Niwas, 87, Worli Sea Face, Mumbai - 400030,
Maharashtra, India |
|
Date of Birth/Age : |
21.12.1963 |
|
Date of Appointment : |
24.10.2002 |
|
PAN No.: |
AABPC2796E |
|
DIN No.: |
00763147 |
|
|
|
|
Name : |
Mr. Tarachand Bodaram Chawla |
|
Designation : |
Director |
|
Address : |
3A, Jivan Niwas, 87, Worli Sea Face, Mumbai - 400030,
Maharashtra, India |
|
Date of Birth/Age : |
17.12.1939 |
|
Date of Appointment : |
24.10.2002 |
|
PAN No.: |
AABPC1545R |
|
DIN No.: |
00763180 |
|
|
|
|
Name : |
Mrs. Sangeeta Purushottam |
|
Designation : |
Director |
|
Address : |
3202, Tower – 2, Aqua, Planet Godrej, Keshav Rao Khadve Marg, Near
Saat Rasta, Mumbai - 400011, Maharashtra, India |
|
Date of Birth/Age : |
21.07.1963 |
|
Date of Appointment : |
18.02.2012 |
|
DIN No.: |
01953392 |
|
|
|
|
Name : |
Mr. Ramesh Ghanshamdas Parwani |
|
Designation : |
Director |
|
Address : |
A-203, Sai Suman Co-Operative Housing Society Limited, Ambadi Road,
Vasai (East), District Thane - 401208, Maharashtra, India |
|
Date of Birth/Age : |
30.10.1940 |
|
Date of Appointment : |
29.04.2009 |
|
PAN No.: |
AAFPR5454C |
|
DIN No.: |
02626212 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.08.2012
|
Names of Equity Shareholders |
|
No. of Shares |
|
Tarachand B. Chawla |
|
107005 |
|
Nandlal H. Chawla |
|
93425 |
|
Prakash N Chawla |
|
104356 |
|
Vinay T. Chawla |
|
294819 |
|
Geeta N. Chawla |
|
25452 |
|
Nandlal H. Chawla (Karta of Nandlal H Chawla HUF) |
|
2121 |
|
Jaya P. Chawla |
|
23331 |
|
Prakash N Chawla (Karta of Prakash N Chawla HUF) |
|
23331 |
|
Devendra P. Chawla |
|
21210 |
|
Samrath P. Chawla |
|
21210 |
|
Sunil N. Chawla |
|
106477 |
|
Karuna S. Chawla |
|
23331 |
|
Sunil N. Chawla (Karta of Mr. Sunil N. Chawla HUF) |
|
23331 |
|
Harshvardhan S. Chawla |
|
21210 |
|
Pranav S. Chawla |
|
21210 |
|
Joyti T. Chawla |
|
106050 |
|
Tarachand B. Chawla (Karta of Tarachand B. Chawla HUF) |
|
2121 |
|
Bodaram Sons |
|
10 |
|
|
|
|
|
Total |
|
1020000 |
|
Names of Preference Shareholder |
|
No. of Shares |
|
International Finance Corporation |
|
2550000 |
|
|
|
|
|
Total |
|
2550000 |
AS ON 29.08.2012
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Refining of Crude Edible Oil and
Manufacturing of Vanaspati, Bakery Shortenings, and Specialty Fats also
engaged in Trading of Various Edible Oil Products. |
||||
|
|
|
||||
|
Products/ Services : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
· Indusind Bank Limited Acme Plaza, CTS No. 32, Opposite Sangam Talkies, Andheri - Kurla Road, Andheri (East), Mumbai - 400059, Maharashtra, India Bank of India, Mandvi Branch, Kanmoor House, 281/287 Narsi
Natha Street, Mumbai - 400009, Maharashtra, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
V. Sankar Aiyar and Company Chartered Accountants |
|
Address : |
2-C, Court Chambers, 35, New Marine Lines, Mumbai –
400020, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFV0781D |
|
|
|
|
Associates : |
· Bodaram Sons Chawla Brothers Private Limited [U74999MH1962PTC012324] Shiv Sharan Realtors Private Limited
[U45200MH2005PTC157897] |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,500,000 |
Equity Shares |
Rs. 100/- each |
Rs. 150.000 Millions |
|
2,550,000 |
Preference Shares |
Rs. 100/- each |
Rs. 255.000 Millions |
|
|
Total |
|
Rs. 405.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,020,000 |
Equity Shares |
Rs. 100/- each |
Rs. 102.000
Millions |
|
2,550,000 |
Preference Shares |
Rs. 100/- each |
Rs. 255.000 Millions |
|
|
Total |
|
Rs. 357.000 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 |
357.000 |
357.000 |
357.000 |
|
(b) Reserves & Surplus |
392.400 |
406.600 |
419.018 |
|
(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) |
749.400 |
763.600 |
776.018 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
161.200 |
237.400 |
383.137 |
|
(b) Deferred tax liabilities (Net) |
31.000 |
51.800 |
69.269 |
|
(c) Other long
term liabilities |
5.900 |
2.700 |
7.337 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
198.100 |
291.900 |
459.743 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
199.134 |
|
(b)
Trade payables |
1444.800 |
1223.400 |
1118.093 |
|
(c)
Other current liabilities |
168.600 |
156.900 |
156.185 |
|
(d) Short-term
provisions |
10.100 |
5.100 |
29.794 |
|
Total Current
Liabilities (4) |
1623.500 |
1385.400 |
1503.206 |
|
|
|
|
|
|
TOTAL |
2571.000 |
2440.900 |
2738.967 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
689.700 |
773.200 |
839.810 |
|
(ii)
Intangible Assets |
2.400 |
0.300 |
0.000 |
|
(iii)
Capital work-in-progress |
1.500 |
0.000 |
0.546 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.100 |
0.100 |
0.066 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
41.800 |
32.100 |
9.703 |
|
(e) Other
Non-current assets |
26.300 |
26.200 |
33.302 |
|
Total Non-Current
Assets |
761.800 |
831.900 |
883.427 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1014.200 |
925.300 |
1261.529 |
|
(c) Trade
receivables |
404.600 |
423.600 |
437.337 |
|
(d) Cash
and cash equivalents |
361.100 |
219.500 |
111.050 |
|
(e)
Short-term loans and advances |
17.900 |
24.400 |
41.805 |
|
(f)
Other current assets |
11.400 |
16.200 |
3.819 |
|
Total
Current Assets |
1809.200 |
1609.000 |
1855.540 |
|
|
|
|
|
|
TOTAL |
2571.000 |
2440.900 |
2738.967 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
9423.047 |
8982.034 |
7269.211 |
|
|
|
Other Income |
56.384 |
23.383 |
15.313 |
|
|
|
TOTAL |
9479.431 |
9005.417 |
7284.524 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
9412.053 |
8922.922 |
7052.088 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
67.378 |
82.495 |
232.436 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
101.362 |
116.286 |
128.594 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(33.984) |
(33.791) |
103.842 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(19.823) |
(21.350) |
60.387 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(14.161) |
(12.441) |
43.455 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
249.003 |
261.444 |
217.989 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
234.842 |
249.003 |
261.444 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.000 |
0.000 |
1.045 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
4771.800 |
4699.400 |
4330.534 |
|
|
|
Capital Goods |
0.300 |
0.500 |
NA |
|
|
TOTAL IMPORTS |
4772.100 |
4699.900 |
NA
|
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(3.97) |
(3.48) |
34.08 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(0.15)
|
(0.14)
|
0.60 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(0.36)
|
(0.38)
|
1.43 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.32)
|
(1.38)
|
3.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.05)
|
(0.04)
|
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.22
|
0.31 |
0.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.11
|
1.16 |
1.23 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last three
years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10400739 |
15/12/2012 |
200,000,000.00 |
INDUSIND BANK LIMITED |
ACME PLAZA, CTS NO. 32 OPPOSITE, SANGAM TALKIES, ANDHERI - KURLA ROAD, ANDHERI (EAST), MUMBAI - 400059, MAHARASHTRA, INDIA |
B66905365 |
|
2 |
10321677 |
13/07/2011 |
1,000,000.00 |
BANK OF INDIA |
NARIMAN POINT LARGE CORPORATE BRANCH, 92 - 93, FREE PRESS HOUSE, 9TH FLOOR,215, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA |
B21376363 |
|
3 |
10121127 |
23/01/2012 * |
3,152,500,000.00 |
BANK OF INDIA |
NARIMAN POINT LARGE CORPORATE BRANCH, 92 - 93, FREE PRESS HOUSE, 9TH FLOOR,215, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA |
B34527580 |
|
4 |
10121128 |
30/01/2012 * |
3,152,500,000.00 |
BANK OF INDIA |
MANDVI BRANCH , KANMOOR HOUSE, 281/287 NARSI NATHA STREET, MUMBAI - 400009, MAHARASHTRA, INDIA |
B34528646 |
|
5 |
10121130 |
01/08/2008 |
450,000,000.00 |
BANK OF INDIA |
MANDVI BRANCH , KANMOOR HOUSE, 281/287 NARSI NATHA STREET, MUMBAI - 400009, MAHARASHTRA, INDIA |
A45320140 |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from directors |
52.000 |
28.600 |
|
Loans and advances from others |
63.700 |
73.000 |
|
|
|
|
|
Total |
115.700 |
101.600 |
COMPANY
INFORMATION
Subject is a company engaged primarily in the business of refining of crude
edible oil and manufacturing of Vanaspati, Bakery Shortenings, and specialty
fats. The Company is also engaged in trading of various edible oil products.
The Company has manufacturing plant at Khopoli, district Raigadh, Maharashtra
and has branches and distribution network spread across the length and breadth
of India. The company has a Research and Development Center approved by DSIR,
New Delhi. The company has attained Certification under many quality systems
such as FSSC22000 Certificate, Kosher Certificate, HALAL Certificate, and RSPO
certificate. The company is recognized as a pioneer in offering state of the
art technology solutions in the edible oils and specialty fats segment of the
food industry.
FINANCIAL PERFORMANCE
The company has grown in sales volume by about 11% even in the face of continued sluggishness in the overall economy. The processed food segment is showing a healthy trend of recovery. The company is actively working on increasing the awareness of the customers about the health benefits of specialty oils and fats and thereby increase the market share for high value added products. They have launched new products for bakery and fried snacks and the products are well received in the market. The company has firm plans to build up on the first mover advantage in the market of nutritional and health centric Oils and Fats, and reap the benefits of the same in the times to come. The newly launched Rice Bran Oil brand ‘Riso’ has won the ‘Product of the year’ award and the health benefits of the oil are widely acclaimed. They plan to position Riso as a premium brand in the years to come. Their efforts to partner with their institutional customer in creating a wow factor in their products for the end consumer is continuing relentlessly. The company has set a target to excel in quality of the products supplied and services offered to their esteemed customers and achieve customer delight in each account.
The year has been a year of learning for the company. The effect of tremendous fluctuation in the price of Dollar has been contained and the result is evident in the reduction of the forex losses / expenses. However the company has been facing a difficult time in ameliorating the effect of the volatility in the commodity prices. This has resulted in the healthy margins generated by the various marketing divisions of the company being offset by the commodity price fluctuations. However the company has drawn up plans to contain the vagaries of commodity price fluctuations. The factory has overcome the problems of breakages in power supply thereby increasing the efficiency of the plant, and availability of the finished goods for the customers.
The R&D efforts of the company are continuing with renewed gusto and they are aiming to create blockbuster products keeping in mind the health factors and functionalities of the oils and fats. Company’s R&D Centre one of the very few which are approved by DSIR, New Delhi.
The Edible Oil market is approaching a regime of stable prices
and the company is confident of making the most of the opportunities in the
market and earning good margins. The company’s prospects in the ensuing year
look brilliant and they are sure that the coordinated efforts of all the
divisions will pay rich dividends.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
|
|
|
|
For various matters under WB Sales Tax Act for the year 2006-07. |
0.200 |
0.200 |
|
|
|
|
FIXED ASSETS:
· Land
Buildings
Plant
and equipment
Furniture
and fixtures
Vehicles
Office
equipment
Computer
equipments
Other
equipments
Brands
and trade marks
Trade
marks
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,
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. 61.64 |
|
|
1 |
Rs. 98.99 |
|
Euro |
1 |
Rs. 84.72 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
41 |
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.