MIRA
INFORM REPORT
|
Report Date : |
06.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
GODREJ AGROVET LIMITED |
|
|
|
|
Registered
Office : |
Pirojsha Nagar, Eastern |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
25.11.1991 |
|
|
|
|
Com. Reg. No.: |
11-135359 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.126.369
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
: |
Manufacturer and Marketing of Animal Feed. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
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|
|
|
Comments : |
Subject is a part of Godrej Group. It is a well-established company having fine track record. Financial position of the company seems to be sound. Directors are reported to be experienced and respectable businessmen. Trade relations are reported as fair. Business is active. Payment
terms are reported to be regular and as per commitments. The company can be considered good 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.
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The prospects
of the India’s economy have been seriously compromised due to political
corruption. High inflation, poor standard of living are to a great extent a
result of rampant corruption in the country. China on the other hand, seems to
be facing diametrically opposite challenge. American hedge fund manager Jim
Chanos has been keenly following the political and economic development in the
dragon economy and has figured out something that is quite worrying. He is of
the view that the Chinese economy could be heading toward trouble on account of
new Chinese President Xi Jingping’s very aggressive anti-corruption drive.
Chanos believes tat many things such as apartment sales, luxury products, etc.
were largely bought with dirty money. And it is now beginning to impact
consumption. This may indeed be bad news for an economy that is struggling to
transition from an investment-driven export-oriented economy to a domestic
consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term, Fund based facilities=AA- |
|
Rating Explanation |
Have high degree of safety and carry very
low credit risk. |
|
Date |
July, 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term, Non fund based facilities=A1+ |
|
Rating Explanation |
Have very strong degree of safety and carry
lowest credit risk. |
|
Date |
July, 2014 |
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Ms. Shevanthi |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-25188010 |
|
Date : |
05.08.2014 |
LOCATIONS
|
Registered Office/ Head Office : |
Pirojsha Nagar, Eastern Express Highway, Vikhroli (East), Mumbai –
400079, 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 – 501403, Andhra Pradesh,
India |
|
Tel. No.: |
91-40-23792091 |
|
Fax No.: |
91-40-23792092 |
|
|
|
|
Oil Palm Plantation Business : |
Ch Pothepalli, Dwarka, Thirumala Mandal, West Godawari Dist. Andhra Pradesh – 534451, India |
|
Tel. No.: |
91-8823-256690/ 80 |
|
Fax No.: |
91-8823-255080 |
|
|
|
|
Branches : |
Located at: ·
Ludhiana ·
Bangalore ·
Kolkata ·
Pune ·
Chandigarh ·
Secundrabad |
DIRECTORS
AS ON 25.06.2014
|
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 : |
01.09.2012 |
|
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.: |
00557547 |
|
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 : |
25.06.2007 |
|
DIN No.: |
00591503 |
|
|
|
|
Name : |
Mr. Rohit Sipahimalani |
|
Designation : |
Director |
|
Address : |
House 22, Second Avenue, Singapore 266673 |
|
Date of Birth/Age : |
03.10.1966 |
|
Date of Appointment : |
17.06.2013 |
|
DIN No.: |
00904065 |
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 |
|
|
|
|
Name : |
Ms. Shevanthi |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS
AS ON 25.06.2014
|
Names of Shareholders |
No. of Shares |
|
Adi Barjorji Godrej |
364 |
|
Nadir Barjorji Godrej |
296154 |
|
Godrej Industries Limited, India |
8040921 |
|
Rishad K. Naoroji |
296154 |
|
Pirojsha Adi Godrej |
98718 |
|
Navroze J. Godrej |
148077 |
|
Jamshyd Naoroji Godrej |
148077 |
|
Nyrika Vijay Crishna |
148077 |
|
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 |
98718 |
|
Godrej Nisaba |
98718 |
|
Freyan Vijay Crishna |
148077 |
|
Godrej and Boyce Manufacturing Company Limited, India |
379000 |
|
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 Govindan Ramakrishna
Rishinaradamangalam |
1 |
|
Godrej Agrovet Limited, Employee Stock Option Trust, India |
586764 |
|
V – Sciences Investments PTE Limited |
2643407 |
|
Balram Singh Yadav |
92403 |
|
|
|
|
Total |
13223634 |
Equity Share Break up (Percentage of Total Equity)
AS ON 25.06.2014
|
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 |
19.99 |
|
Bodies corporate |
63.67 |
|
Directors or relatives of Directors |
9.66 |
|
Other top fifty shareholders |
6.68 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Marketing of Animal Feed. |
|
|
|
|
Exports : |
|
|
Products : |
· Oil Palm · Animal Feed · Godrej Tyson Foods |
|
Countries : |
· Uganda · Africa Countries · Bangladesh |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
China |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
·
State Bank of India, Corporate Accounts
Group-Central, 3rd Floor, State Bank Bhavan, Madame Cama Road,
Mumbai – 400001, Maharashtra, India ·
Axis Bank Limited Esquire Centre, No.9, M.G.
Road, Bangalore – 560001, Karnataka, India |
|
|
|
|
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
– 400703, 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 : |
Godrej Industries Limited |
|
|
|
|
Ultimate Holding company : |
Godrej and Boyce Manufacturing Company Limited |
|
|
|
|
Subsidiary company : |
·
Golden Feed Products Limited ·
Goldmohur Agrochem and Feeds Limited ·
Godrej Infotech Limited ·
Godrej Consumer Products Limited ·
Natures Basket Limited ·
Godrej Properties Limited ·
Hershey India Private Limited ·
Godrej Seeds and Genetics Limited ·
Godvet Agrochem Limited |
|
|
|
|
Joint venture : |
·
ACI Godrej Agrovet Private Limited ·
Godrej Tyson Foods Limited |
|
|
|
|
Associate : |
·
Creamline Dairy Products Limited ·
Polchem Hygiene Laboratories Private Limited ·
Al Rahaba Trading International LLC |
|
|
|
|
Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives : |
Bahar Agrochem and Feeds Limited |
|
|
|
|
Fellow Subsidiary company: |
Godrej International Limited |
|
|
|
|
Others : |
·
Crop Science Advisors LLP ·
Godrej Hersheys Limited |
CAPITAL STRUCTURE
AS ON 25.06.2014
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 |
|
|
|
|
|
|
13223634 |
Equity Shares |
Rs.10/- each |
Rs.132.236 Millions |
|
|
|
|
|
AS ON 31.03.2014
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 |
|
|
|
|
|
|
13223634 |
Equity Shares |
Rs.10/- each |
Rs.132.236
Millions |
|
|
Less : Amount recoverable from the Company s ESOP Trust |
|
Rs.5.867
Millions |
|
|
|
|
|
|
|
Total
|
|
Rs.126.369 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
126.369 |
126.369 |
121.188 |
|
(b) Reserves & Surplus |
4334.831 |
3736.962 |
2018.199 |
|
(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) |
4461.200 |
3863.331 |
2139.387 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1642.441 |
1046.403 |
46.674 |
|
(b) Deferred tax liabilities (Net) |
459.852 |
355.692 |
206.321 |
|
(c) Other long term liabilities |
11.149 |
0.000 |
6.003 |
|
(d) long-term provisions |
15.983 |
15.711 |
18.367 |
|
Total Non-current Liabilities (3) |
2129.425 |
1417.806 |
277.365 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
39.126 |
350.000 |
1402.153 |
|
(b) Trade payables |
6712.955 |
5093.424 |
4352.883 |
|
(c) Other current
liabilities |
1380.846 |
1010.756 |
1016.981 |
|
(d) Short-term provisions |
430.840 |
296.791 |
5.575 |
|
Total Current Liabilities (4) |
8563.767 |
6750.971 |
6777.592 |
|
|
|
|
|
|
TOTAL |
15154.392 |
12032.108 |
9194.344 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4221.306 |
2811.048 |
1573.767 |
|
(ii) Intangible Assets |
259.468 |
317.566 |
349.915 |
|
(iii) Capital
work-in-progress |
1471.571 |
1245.831 |
1094.489 |
|
(iv)
Intangible assets under development |
0.726 |
0.000 |
7.362 |
|
(b) Non-current Investments |
1044.253 |
1323.900 |
1275.265 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
364.514 |
517.995 |
434.957 |
|
(e) Other Non-current assets |
17.361 |
16.298 |
21.089 |
|
Total Non-Current Assets |
7379.199 |
6232.638 |
4756.844 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3234.532 |
2750.012 |
1936.266 |
|
(c) Trade receivables |
2191.712 |
1741.854 |
1207.474 |
|
(d) Cash and cash
equivalents |
1134.787 |
213.712 |
181.568 |
|
(e) Short-term loans and
advances |
1106.776 |
1054.089 |
991.782 |
|
(f) Other current assets |
107.386 |
39.803 |
120.410 |
|
Total Current Assets |
7775.193 |
5799.470 |
4437.500 |
|
|
|
|
|
|
TOTAL |
15154.392 |
12032.108 |
9194.344 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
32400.007 |
28525.973 |
21965.846 |
|
|
|
Other Income |
166.561 |
128.924 |
220.235 |
|
|
|
TOTAL (A) |
32566.568 |
28654.897 |
22186.081 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
23478.804 |
21658.899 |
16684.580 |
|
|
|
Purchases of stock-in-trade |
2069.388 |
1189.657 |
666.727 |
|
|
|
Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
(246.402) |
(162.075) |
(178.173) |
|
|
|
Employee benefit expense |
1191.046 |
1019.900 |
967.748 |
|
|
|
Other expenses |
3762.479 |
3120.918 |
2652.586 |
|
|
|
TOTAL (B) |
30255.315 |
26827.299 |
20793.468 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2311.253 |
1827.598 |
1392.613 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
78.577 |
231.171 |
198.289 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2232.676 |
1596.427 |
1194.324 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
260.644 |
187.139 |
134.359 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1972.032 |
1409.288 |
1059.965 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
533.371 |
407.699 |
251.880 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1438.661 |
1001.589 |
808.085 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
93.403 |
69.677 |
28.598 |
|
|
TOTAL EARNINGS |
93.403 |
69.677 |
28.598 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
585.694 |
574.000 |
455.599 |
|
|
|
Components and Spares Parts |
5.999 |
27.917 |
15.871 |
|
|
|
Capital Goods |
492.952 |
74.540 |
52.030 |
|
|
TOTAL IMPORTS |
1084.645 |
676.457 |
523.500 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
113.85 |
81.71 |
66.68 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
4.42 |
3.50 |
3.64 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.09 |
4.94 |
4.83 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.60 |
14.89 |
15.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.44 |
0.36 |
0.50 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.38 |
0.36 |
0.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.91 |
0.86 |
0.65 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
121.188 |
126.369 |
126.369 |
|
Reserves & Surplus |
2018.199 |
3736.962 |
4334.831 |
|
Net
worth |
2139.387 |
3863.331 |
4461.200 |
|
|
|
|
|
|
long-term borrowings |
46.674 |
1046.403 |
1642.441 |
|
Short term borrowings |
1402.153 |
350.000 |
39.126 |
|
Total
borrowings |
1448.827 |
1396.403 |
1681.567 |
|
Debt/Equity
ratio |
0.677 |
0.361 |
0.377 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
21,965.846 |
28,525.973 |
32,400.007 |
|
|
|
29.865 |
13.581 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
21,965.846 |
28,525.973 |
32,400.007 |
|
Profit |
808.085 |
1,001.589 |
1,438.661 |
|
|
3.68% |
3.51% |
4.44% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
Rs.
In Millions
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long term debt |
2.705 |
0.271 |
0.000 |
|
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 |
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 |
No |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Millions |
31.03.2013 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Term loans from
banks |
1600.000 |
1000.000 |
|
Deferred payment liabilities
|
42.441 |
46.403 |
|
|
|
|
|
Short Term Borrowings |
|
|
|
Working capital
loans from banks |
39.126 |
0.000 |
|
Term loans from
banks |
0.000 |
350.000 |
|
|
|
|
|
Total |
1681.567 |
1396.403 |
LITIGATION
DETAILS:
|
Bench:- Bombay |
|||||||
|
Stamp No:- |
ITXAL/252/2013 |
Failing Date:- |
14.02.2013 |
Reg. No.:- |
ITXA/524/2013 |
Reg. Date:- |
13.03.2013 |
|
|
|||||||
|
Petitioner:- |
COMMISSIONER OF INCOME TAX 10, - |
Respondent:- |
M/S GODREJ AGROVET LIMITED - |
||||
|
Petn. Adv.:- |
ARVIND PINTO |
Resp. Adv.:- |
0 |
||||
|
District:- |
MUMBAI |
||||||
|
|
|||||||
|
Bench:- |
DIVISION |
Category:- |
TAX APPEALS |
||||
|
Status:- |
Pre-Admission |
Stage:- |
|
||||
|
Last Date:- |
26.02.2014 |
|
|||||
|
Last Coram:- |
ACCORDING TO SITTING LIST ACCORDING TO SITTING LIST |
||||||
|
|
|
||||||
|
Act:- |
Income Tax Act, 1961 |
Under Section:- |
260A |
||||
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
80026160 |
28/06/2010
* |
800,000,000.00 |
CENTRAL
BANK OF INDIA |
CORPORATE
FINANCE BRANCH,1ST FLOOR, MMO BUILDING, M.G. ROAD,FORT, MUMBAI, MAHARASHTRA -
400023, INDIA |
A89949606 |
*Date of modification Charges
FIXED ASSETS:
· Freehold Land
· Leasehold Land
· Building
· Staff Quarter
· Plant and Machinery
· Furniture and Fixture
· Leasehold Improvement
· Office and other Equipments
· Vehicles
· Research Center
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.60.87 |
|
|
1 |
Rs.102.67 |
|
Euro |
1 |
Rs.81.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--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 |
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 |
|
66 |
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.