MIRA
INFORM REPORT
|
Report Date : |
12.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
HATSUN AGRO PRODUCT LIMITED |
|
|
|
|
Registered
Office : |
Domaine, Door No. 1/20A, Rajiv Gandhi Salai, (OMR), Karapakkam,
Chennai – 600097, Tamilnadu |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2013 |
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|
|
Date of
Incorporation : |
04.03.1986 |
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Com. Reg. No.: |
18-012747 |
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Capital
Investment / Paid-up Capital : |
Rs.107.725
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L15499TN1986PLC012747 |
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|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Shares are Listed on
the Stock Exchanges. |
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|
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|
Line of Business
: |
Manufacture and Sale of Milk, Milk Products and Ice Cream. |
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|
|
|
No. of Employees
: |
2780 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5182400 |
|
|
|
|
Status : |
Satisfactory |
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|
|
Payment Behaviour : |
Usually Correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having satisfactory track record.
Profitability of the company seems to be fair. General financial position of
the company appears to be sound and healthy. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital firms
in India during 2013, registering a drop of about 18 % over the previous year.
The Information Technology and IT-Enabled Services Industry retained its
status as the favourable venture capital investors in 2013. Pakistan has
temporarily banned gold imports for the second time in six months, as it tries
to stem smuggling into India. India’s import duty on gold is 10 % and curbs on
purchases have dried up legal imports into what used to be the world’s biggest
bullion buyers. The World Gold Council puts the amount smuggled into India at
upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed
bank deposits estimated to be about Rs 35000 mn be used for education and
awareness among depositors. According to the plan, deposits that have not
been claimed for at least 10 years will be transferred to the scheme.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
A – [Long Term Bank Facilities] |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
11.11.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
A2+ [Short Term Bank Facilities] |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
11.11.2013 |
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 : |
Domaine, Door No. 1/20A, Rajiv Gandhi Salai, (OMR), Karapakkam, Chennai – 600097, Tamilnadu, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
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E-Mail : |
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|
Website : |
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|
Corporate Office : |
5A, Vijayaraghava Road, T. Nagar, Chennai - 600017,
Tamilnadu, India |
|
Tel. No.: |
91- 44-28150014 |
|
Fax No.: |
91- 44-28152508 |
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|
|
|
Factory 1 : |
Attur Main Road, Karumapuram Village, Salem - 636 106, Tamilnadu, India |
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Factory 2 : |
Timmasamudram Village (White Gate), Chennai-Bangalore Highway, Kancheepuram Taluka, Kancheepuram - 631 502, Tamilnadu, India |
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Factory 3 : |
No,114, Angadu Road, Nallur Village, Redhills, Chennai - 600 067, Tamilnadu, India |
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Factory 4 : |
No. 277/2, Desur Village, Kanapur Road, Belgaum - 590 014, Karnataka, India |
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Factory 5 : |
No. 109/2, Melebennur Road, Kundur Village, Honnali Taluka, Davangere District, Honnali - 577 219, Karnataka, India |
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Factory 6 : |
Sangam Pasuvathala Village, Kolasanahalli Panchayat, Marandahalli Main Road, Palacode Taluk, Dharmapuri District - 636 808, Tamilnadu |
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Factory 7 : |
No.76/2B, Dindugal Madurai Main Road Thiruvazhavayanallur, Vadipatti Taluka, Madurai - 625 221, Tamilnadu, India |
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Factory 8 : |
V Koottu Road Pirivu, Attupannai, Periyeri Post, Thalaivasal, Attur Taluka, Salem District - 636 101, Tamilnadu, India |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. R.G. Chandramogan |
|
Designation : |
Chairman And Managing Director |
|
|
|
|
Name : |
Mr. K.S. Thanarajan |
|
Designation : |
Joint Managing Director |
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Name : |
Mr. C. Sathyan |
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Designation : |
Executive Director |
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|
Name : |
Mr. P. Vaidyanathan |
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Designation : |
Executive Director |
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|
Name : |
Mr. Kirti P Shah |
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Designation : |
Executive Director |
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Name : |
Mr. S. Thiagarajan |
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Designation : |
Executive Director |
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Name : |
Mr. B.S. Mani |
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Designation : |
Executive Director |
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Name : |
Mr. N. Chandrasekaran |
|
Designation : |
Executive Director |
KEY EXECUTIVES
|
Name : |
S. Chandrasekar |
|
Designation : |
Company Secretary |
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|
|
|
Audit Committee : |
· P. Vaidyanathan · S. Thiagarajan · B.S. Mani |
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|
Shareholders’/Investors’ Grievance Committee
: |
· S. Thiagarajan · P. Vaidyanathan · K.S. Thanarajan |
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Remuneration
Committee : |
· P. Vaidyanathan · S. Thiagarajan · B.S. Mani |
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Sub Committee : |
· R.G. Chandramogan · K.S. Thanarajan · C. Sathyan · B.S. Mani |
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Share Transfer
Committee : |
· R.G. Chandramogan · P. Vaidyanathan · K.S. Thanarajan |
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|
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|
Core Committee : |
· R.G. Chandramogan · K.S. Thanarajan · C. Sathyan |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.12.2013
|
Category of Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
80742030 |
74.98 |
|
|
80742030 |
74.98 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
80742030 |
74.98 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
150 |
0.00 |
|
|
92350 |
0.09 |
|
|
92500 |
0.09 |
|
|
|
|
|
|
3863858 |
3.59 |
|
|
|
|
|
|
9069936 |
8.42 |
|
|
10171851 |
9.45 |
|
|
3751473 |
3.48 |
|
|
26600 |
0.02 |
|
|
3724873 |
3.46 |
|
|
26857118 |
24.94 |
|
Total Public shareholding (B) |
26949618 |
25.02 |
|
Total (A)+(B) |
107691648 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts have
been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
107691648 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture and Sale of Milk, Milk Products and Ice Cream. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
2780 (Approximately) |
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Bankers : |
· State Bank of India · The South Indian Bank Limited · ICICI Bank Limited · Axis Bank Limited · Yes Bank Limited · Standard Chartered Bank · The Lakshmi Vilas Bank Limited · ING Vysya Bank Limited · Indus-ind Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
S.R. Batliboi and Associates Chartered Accountants |
|
Address : |
6th and 7th Floor - “A” Block, Tidel Park, (Module 601, 701 and 702), No.4, Rajiv Gandhi Salai, Taramani, Chennai - 600 113, Tamilnadu, India |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000000 |
Equity Shares |
Re.1/- each |
Rs.250.000 Millions |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
107821648 |
Equity Shares |
Re.1/- each |
Rs.107.822
Millions |
Subscribed & Fully Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
107691648 |
Equity Shares |
Re.1/- each |
Rs.107.692
Millions |
|
130000 |
Equity Shares (Subscribed and not fully paid) |
Rs.0.25/- each |
Rs.0.033
Million |
|
|
TOTAL
|
|
Rs.107.725 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 |
107.725 |
107.725 |
71.827 |
|
(b) Reserves & Surplus |
1187.887 |
969.424 |
856.120 |
|
(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) |
1295.612 |
1077.149 |
927.947 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
2035.920 |
1075.860 |
1002.689 |
|
(b) Deferred tax liabilities (Net) |
271.608 |
254.013 |
237.474 |
|
(c) Other long
term liabilities |
5.685 |
6.125 |
6.565 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
2313.213 |
1335.998 |
1246.728 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
1281.224 |
1656.579 |
1355.008 |
|
(b)
Trade payables |
829.471 |
605.337 |
366.582 |
|
(c)
Other current liabilities |
1084.102 |
973.792 |
947.437 |
|
(d) Short-term
provisions |
67.383 |
33.833 |
14.546 |
|
Total Current
Liabilities (4) |
3262.180 |
3269.541 |
2683.573 |
|
|
|
|
|
|
TOTAL |
6871.005 |
5682.688 |
4858.248 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
3870.209 |
3565.146 |
3457.124 |
|
(ii)
Intangible Assets |
47.418 |
46.815 |
29.649 |
|
(iii)
Capital work-in-progress |
447.805 |
84.856 |
102.276 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
6.798 |
0.000 |
0.000 |
|
(c) Deferred tax
assets (net) |
220.378 |
101.321 |
0.000 |
|
(d) Long-term Loan and Advances |
31.337 |
0.000 |
107.742 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
4623.945 |
3798.138 |
3696.791 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1106.950 |
1412.194 |
643.159 |
|
(c)
Trade receivables |
427.758 |
86.162 |
96.701 |
|
(d) Cash
and cash equivalents |
302.263 |
101.699 |
100.221 |
|
(e)
Short-term loans and advances |
341.809 |
280.257 |
309.401 |
|
(f)
Other current assets |
68.280 |
4.238 |
11.975 |
|
Total
Current Assets |
2247.060 |
1884.550 |
1161.457 |
|
|
|
|
|
|
TOTAL |
6871.005 |
5682.688 |
4858.248 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
21650.190 |
16035.367 |
13557.320 |
|
|
|
Other Income |
37.543 |
33.422 |
15.070 |
|
|
|
TOTAL (A) |
21687.733 |
16068.789 |
13572.390 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of raw materials and components consumed |
16186.430 |
12554.737 |
9976.315 |
|
|
|
Purchases of traded goods |
96.156 |
56.490 |
171.168 |
|
|
|
Employee benefits expenses |
621.128 |
523.822 |
459.021 |
|
|
|
Other expenses |
3171.276 |
2360.086 |
1985.736 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
97.371 |
(550.989) |
19.328 |
|
|
|
TOTAL (B) |
20172.361 |
14944.146 |
12611.568 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1515.372 |
1124.643 |
960.823 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
444.305 |
384.473 |
358.590 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1071.067 |
740.170 |
602.233 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
503.187 |
418.412 |
370.602 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
567.880 |
321.758 |
231.631 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
121.191 |
55.739 |
44.176 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
446.689 |
266.019 |
187.455 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
122.600 |
291.443 |
167.413 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend on Equity Shares |
183.076 |
78.974 |
38.315 |
|
|
|
Proposed Final Dividend on Equity Shares |
0.000 |
21.538 |
0.000 |
|
|
|
Tax on Dividends |
30.032 |
16.305 |
6.364 |
|
|
|
Transfer to General Reserve |
44.669 |
318.045 |
18.746 |
|
|
BALANCE CARRIED
TO THE B/S |
311.512 |
122.600 |
291.443 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1958.308 |
52.610 |
738.519 |
|
|
|
Royalty income |
0.707 |
0.752 |
0.726 |
|
|
TOTAL EARNINGS |
1959.015 |
53.362 |
739.245 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw materials and packing materials |
25.764 |
26.371 |
29.071 |
|
|
|
Components and spare parts |
1.090 |
0.645 |
1.284 |
|
|
|
Capital goods |
104.818 |
32.794 |
20.642 |
|
|
TOTAL IMPORTS |
131.672 |
59.810 |
50.997 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
-
Basic |
4.15 |
2.47 |
1.81 |
|
|
|
-
Diluted |
4.15 |
2.47 |
1.78 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2013 |
30.09.2013 |
31.12.2013 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
6048.500 |
6116.900 |
6332.900 |
|
Total Expenditure |
5661.900 |
5577.600 |
5777.900 |
|
PBIDT (Excl OI) |
386.500 |
539.300 |
554.900 |
|
Other Income |
15.100 |
12.000 |
36.700 |
|
Operating Profit |
401.600 |
551.300 |
591.600 |
|
Interest |
89.100 |
91.300 |
105.500 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
312.600 |
460.000 |
486.200 |
|
Depreciation |
149.000 |
154.200 |
164.400 |
|
Profit Before Tax |
163.600 |
305.800 |
321.700 |
|
Tax |
04.900 |
(3.500) |
12.900 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
158.700 |
309.200 |
308.900 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
158.700 |
309.200 |
308.900 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.05
|
1.65 |
1.38 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.62
|
2.00 |
1.71 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.17
|
5.85 |
4.87 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.44
|
0.30 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.56
|
2.54 |
2.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.69
|
0.57 |
0.43 |
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 |
Yes |
|
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 |
No |
|
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 |
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 |
No |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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 |
INDEX OF CHARGES:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10475924 |
08/01/2014 |
500,000,000.00 |
AXIS BANK
LIMITED |
CORPORATE
BANKING BRANCH, 192, KARUMUTTU NILAYAM, |
B95625612 |
|
2 |
10475679 |
07/01/2014 |
497,600,000.00 |
STANDARD
CHARTERED BANK |
19, RAJAJI SALAI,
CHENNAI - 600001, TAMILNADU, INDIA |
B95529178 |
|
3 |
10471348 |
27/12/2013 |
100,000,000.00 |
STANDARD
CHARTERED BANK |
19, RAJAJI
SALAI, CHENNAI - 600001, TAMILNADU, INDIA |
B93943629 |
|
4 |
10474857 |
16/12/2013 |
200,000,000.00 |
THE BANK OF NOVA
SCOTIA |
CLASSIC TOWERS,
1547 TRICHY ROAD, COIMBATORE - 641018, COIMBATORE, TAMILNADU, INDIA |
B95193785 |
|
5 |
10474873 |
16/12/2013 |
200,000,000.00 |
THE BANK OF NOVA
SCOTIA |
CLASSIC TOWERS, 1547
TRICHY ROAD, COIMBATORE - 641018, COIMBATORE, TAMILNADU, INDIA |
B95201174 |
|
6 |
10462789 |
27/11/2013 |
375,000,000.00 |
STANDARD
CHARTERED BANK |
19, RAJAJI
SALAI, CHENNAI - 600001, TAMILNADU, INDIA |
B90585548 |
|
7 |
10454361 |
23/09/2013 |
250,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA,, DR. |
B87247102 |
|
8 |
10380844 |
03/01/2013 * |
400,000,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE COURCE
CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B65654428 |
|
9 |
10378363 |
26/09/2012 |
400,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA,, DR. |
B58869686 |
|
10 |
10365076 |
08/08/2012 * |
790,000,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B45466851 |
|
* Date of charge modification |
||||||
|
CHENNAI COURT CASE STATUS INFORMATION
SYSTEM |
|
|
CASE STATUS: |
PENDING |
|
|
|
|
STATUS OF: |
APPLICATION |
|
|
|
|
CASE NO.: |
886 |
|
|
|
|
YEAR: |
2008 |
|
|
|
|
PETITIONER: |
SRI VISHNU AGENCIES |
|
|
|
|
RESPONDENT: |
HATSUN AGRO PRODUCTS LIMITED |
|
|
|
|
PET’S ADVOCATE: |
SIVA SUY AMBU |
|
|
|
|
RES’S ADVOCATE: |
-- |
|
|
|
|
CATEGORY: |
NO CATEGORY MENTIONED |
|
|
|
|
LAST LISTED ON: |
NO DATE MENTIONED |
|
|
|
|
CASE UPDATED ON: |
AUGUST 28 2008 |
PERFORMANCE OF THE COMPANY: During the year, the Company earned revenue from operations (net) of Rs.2165.190 Millions representing an increase of 35% over that of the previous year. The Company registered a net profit of Rs.446.689 Millions, as compared to previous year net profit of Rs.266.019 Millions, an increase of 67.92%. The net revenue from Milk and Milk product amounts to Rs.19604.139 Millions representing an increase of 34.44% over that of the previous year. The net revenue from Ice Cream products a mounts to Rs.1359.601 Millions representing an increase of 17.42% over that of the previous year. The increase in the profitability is due to the availability of milk and the effective cost control measures taken by the Company. There was a fire accident at our 5alem Plant on 1st May, 2013, for which there is adequate insurance cover. However, there is no loss of life or human injury due to the fire accident and no loss in revenue or production arising therefrom. The Company is confident of recovering the same from the Insurance Company.
FUTURE PLAN The major thrust areas in the current financial year would be in Curd and IBACO in the domestic market. This will help the Company to strengthen its presence and enable it to maintain its leadership position.
FIXED ASSETS:
Tangible Assets:
· Land
· Buildings
· Plant and Machinery
· Electrical Fittings
· Furniture and Fittings
· Office Equipment
· Vehicles
· Lease Hold 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,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other official
proceeding for making any prohibited payments or other improper payments to
government officials for engaging in prohibited transactions or with designated
parties.
3] Asset Declaration :
No exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.44 |
|
|
1 |
Rs.102.48 |
|
Euro |
1 |
Rs.85.28 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
49 |
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.