MIRA
INFORM REPORT
|
Report Date : |
20.08.2014 |
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, |
|
|
|
|
Country : |
|
|
|
|
|
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 |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
Line of Business
: |
Subject is engaged in the business of manufacturing value
added dairy products viz. Casein, Skimmed Milk Powder, Dairy Whitener,
Cheese, Butter and Ghee. |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
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 |
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|
|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “SCHREIBER INTERNATIONAL INC.”. It is a
well-established company having fine track record. The rating reflects company’s healthy financial risk profile marked by
diversified products portfolio and fair profitability levels of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
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
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Saneep Kamat |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-67711900 |
|
Date : |
20.08.2014 |
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 / 28402304/67711901/67711900/67711908 |
|
Fax No.: |
91-22-67711910/67711911 |
|
E-Mail : |
praveen.heda@schreiberfoods.com
|
|
Website : |
|
|
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, 3rd 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 |
|
|
|
|
Name : |
Mr. Pramod Krishnamoorary Goenka |
|
Designation : |
Director |
|
Address : |
501, 5th 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 |
|
|
|
|
Name : |
Mr. Gobind Kaliandas Dryanani |
|
Designation : |
Director |
|
Address : |
Flat No. 24, 2nd 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 |
|
|
|
|
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 |
|
|
|
|
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 |
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 : |
Mr. Saneep Kamat |
|
Designation : |
Assistant Finance Manager |
MAJOR SHAREHOLDERS
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 : |
Subject is engaged in the business of manufacturing value
added dairy products viz. Casein, Skimmed Milk Powder, Dairy Whitener,
Cheese, Butter and Ghee. |
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Products : |
|
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
|
No. of Employees : |
Information declined by the management |
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|
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|
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 · State Bank of India, Deccan Gymkhana Branch, 2nd Floor, PMT Building, Pune - 413102, Maharashtra, India ·
State Bank of Patiala, Inder Tower, Gokhale
Road (South), Dadar West, Mumbai - 400025, Maharashtra, India |
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Facilities : |
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|
|
|
|
Banking
Relations : |
-- |
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|
|
|
Financial Institution : |
Rabobank International (Cooperative Centrale Raiffeisen-Boerenleenbank B.A.) Forbes Building, 2nd Floor, Charanjit Rai Marg, Fort, Mumbai - 400001, 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 · Schreiber and Rupp GMBH |
|
|
|
|
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 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
950.962 |
950.962 |
950.962 |
|
Reserves & Surplus |
1549.717 |
1894.131 |
2266.412 |
|
Net
worth |
2,500.679 |
2,845.093 |
3,217.374 |
|
|
|
|
|
|
long-term borrowings |
10.258 |
0.000 |
0.000 |
|
Short term borrowings |
182.907 |
54.727 |
436.913 |
|
Total
borrowings |
193.165 |
54.727 |
436.913 |
|
Debt/Equity
ratio |
0.077 |
0.019 |
0.136 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
9362.935 |
10373.343 |
11026.548 |
|
|
|
10.792 |
6.297 |
NET PROFIT MARGIN
|
Net Profit
Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
9362.935 |
10373.343 |
11026.548 |
|
Profit |
130.612 |
344.414 |
372.281 |
|
|
1.39% |
3.32% |
3.38% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
Rs.
In Millions
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current maturities of long term debt |
NA |
0.000 |
41.009
|
|
Total |
NA |
0.000 |
41.009
|
|
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 |
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) |
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 |
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
CORPORATE INFORMATION
The Company is engaged in the business of manufacturing value added dairy products viz. Casein, Skimmed Milk Powder, Dairy Whitener, Cheese, Butter and Ghee. It also undertakes contract manufacturing in respect of certain products such as Butter, Ghee, Cheese, Fruit Juices, Curd etc.
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 CHARGE:
|
Sr. 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 Bank 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
- |
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 |
- |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.60.73 |
|
|
1 |
Rs.101.48 |
|
Euro |
1 |
Rs.81.04 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
65 |
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.