MIRA INFORM REPORT
|
Report Date : |
21.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
KHANDESH ROLLER FLOUR MILLS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Medha Bhawan (First Floor), 35, Central Avenue, Nagpur -
440018, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
30.10.1980 |
|
|
|
|
Com. Reg. No.: |
11-023378 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.22.960 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15310MH1980PTC023378 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NGPK03497E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK7382A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Wheat. |
|
|
|
|
No. of Employees
: |
19 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 430000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Khandesh Group. It is a well-established company
having a moderate track record. The latest financial statement of 2013 could not be made available
from the government department. As per the available, the company possesses a favorable financial
profile marked by modest networth during 2012. The rating also take into consideration the moderate scale of
operation and exposure to intense competition, leading to low profit
margin. However, trade relations are fair. Business is active. Payment terms
are reported as slow but correct. In view of extensive experience of group’s promoters, the subject can
be considered for business dealings with some caution. |
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 services sector, the largest contributor to India’s GDP, contracted
for the sixth consecutive month in December, as orders dipped. However, hiring
has risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to
retain 100 per cent foreign direct investment in both greenfield (new) and
brown field (existing) pharmaceutical companies, despite concerns over genetic
drugs going out of production, if multi-national companies take over domestic
ones. In M&A deals, a non compete clause would not be allowed, except in
special circumstances. The Department of Industrial Policy and Promotion plans
to release the next edition of its consolidated foreign direct investment
policy document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of
mobile internet users in India by June 2014, according to a report by the
Internet & Mobile Association of India and IMRB International. India
had 110 million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that
accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per
cent is the main reason for this overall IT cut. A Reserve Bank of India
committee has recommended setting up a special category of lenders who would
cater to small businesses and households, to expand the number of customers
with access to banking services. These banks would focus onproviding payment
services and deposit products. Indian banks want the free use of
automated teller machines to be capped at five transactions in a month
including that of the bank in which the account is active. This follows state
government order to banks to install security guards at ATM booths after a
woman banker was assaulted in Bangalore. The government is likely to present a
vote on Account in mid-February. The annual Economic Survey will be tabled
later in Parliament along with the full Budget. A full Budget for 2014/15 is
likely to be present in July by the new government formed after the General
Election. The government will soon launch an internet spy system, called Netra,
to detect malafide messages. Security agency will deploy the system to capture
dubious voice traffic on applications such as Skype and Google Talk, as well as
tweeters.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Fund Based Limits = BB+ |
|
Rating Explanation |
Moderate risk of default regarding timely
servicing of financial obligations |
|
Date |
August 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Vidur Mohata |
|
Designation : |
Director |
|
Contact No.: |
91-257-2210551 |
|
Date : |
20.02.2014 |
LOCATIONS
|
Registered Office : |
Medha Bhawan (First Floor), 35, Central Avenue, Nagpur -
440018, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Head Office : |
E – 19/20 M. I. D. C.
Area, Jalgaon – 425003, Maharashtra, India |
|
Tel. No.: |
91-257-2210551/ 2210552/ 2211358 |
|
Fax No.: |
91-257-2210553 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Vidur Mohata |
|
Designation : |
Additional Director |
|
Address : |
44 Vidya Nagar, Opposite Agarwal Hall, Jalgaon – 425002, Maharashtra,
India |
|
Date of Birth/Age : |
14.12.1985 |
|
Date of Appointment : |
31.10.2011 |
|
DIN No.: |
00255604 |
|
|
|
|
Name : |
Mr. Shiv Shankar Mohata |
|
Designation : |
Director |
|
Address : |
44 Vidya Nagar, Opposite Agarwal Hall, Jalgaon – 425002, Maharashtra,
India |
|
Date of Birth/Age : |
09.03.1960 |
|
Date of Appointment : |
25.12.1987 |
|
DIN No.: |
00255802 |
KEY EXECUTIVES
|
Name : |
R.A Daga and Company |
|
Designation : |
Company Secretary |
|
Address : |
601-602, B Wing, 6th Floor, Lokmat Bhawan, Ramdaspeth,
Nagpur – 440012, Maharashtra, India |
|
Tel No.: |
91-712-2461971/ 6617971 |
|
Email ID : |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Gopal Lal Mohata |
|
1798 |
|
Shiv Shankar Mohata |
|
2077 |
|
Suresh Kumar Mohata |
|
1528 |
|
Pushpadevi Mohata |
|
644 |
|
Sunitadevi Mohata |
|
1354 |
|
Vrindadevi Mohata |
|
1296 |
|
Impressive Investment Private Limited, India |
|
7127 |
|
Rameshchandra Laddia |
|
500 |
|
Horizon Industries Limited, India |
|
2700 |
|
Mojita Builders Private Limited, India |
|
1300 |
|
Duruv Mohata |
|
265 |
|
Vidur Mohata |
|
269 |
|
Achinatya Mohata |
|
266 |
|
Shiv Shankar Mohata (HUF) |
|
625 |
|
Sureshkunar Mohata (HUF) |
|
102 |
|
Laxmi Narayan Sharma |
|
19 |
|
Gopal Lal Mohata (HUF) |
|
290 |
|
Total |
|
22160 |
Equity Share Break up (Percentage of Total
Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Bodies corporate |
50.21 |
|
Directors or relatives of Directors |
49.79 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Wheat. |
|
|
|
|
Products : |
|
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
|
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Credit and Depend |
|
|
|
|
Purchasing : |
Credit |
PRODUCTION STATUS
|
Particulars |
Unit |
|
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
|
Wheat Products |
M.T. |
|
87000.00 |
55180.36 |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||
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Customers : |
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||||||||||||||||||
|
No. of Employees : |
19 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
State Bank of India, Plot No. P 7/2, MIDC Area, Ajanta
Road, Jalgaon - 425003, Maharashtra, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mahesh Taori and Company Chartered Accountants |
|
Address : |
Nagpur, Maharashtra, India |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
42100 |
Equity Shares |
Rs.1000/- each |
Rs.42.100 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22160 |
Equity Shares |
Rs.1000/- each |
Rs.22.160 Millions |
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
42100 |
Equity Shares |
Rs.1000/- each |
Rs.42.100 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22960 |
Equity Shares |
Rs.1000/- each |
Rs.22.960 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
22.960 |
22.960 |
|
(b) Reserves & Surplus |
|
84.244 |
82.291 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
2.070 |
|
Total Shareholders’
Funds (1) + (2) |
|
107.204 |
107.321 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.462 |
35.545 |
|
(b) Deferred tax liabilities (Net) |
|
0.391 |
0.538 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
0.853 |
36.083 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
44.422 |
60.340 |
|
(b) Trade
payables |
|
9.105 |
1.976 |
|
(c) Other
current liabilities |
|
6.404 |
9.809 |
|
(d) Short-term
provisions |
|
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
|
59.931 |
72.125 |
|
|
|
|
|
|
TOTAL |
|
167.988 |
215.529 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
28.135 |
24.781 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.027 |
0.027 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other
Non-current assets |
|
1.411 |
0.212 |
|
Total Non-Current
Assets |
|
29.573 |
25.020 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
46.102 |
44.348 |
|
(c) Trade
receivables |
|
66.420 |
107.940 |
|
(d) Cash
and cash equivalents |
|
8.557 |
2.503 |
|
(e)
Short-term loans and advances |
|
0.523 |
0.777 |
|
(f) Other
current assets |
|
16.813 |
34.941 |
|
Total
Current Assets |
|
138.415 |
190.509 |
|
|
|
|
|
|
TOTAL |
|
167.988 |
215.529 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
20.781 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
26.979 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
47.760 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
15.187 |
|
|
2] Unsecured Loans |
|
|
73.783 |
|
|
TOTAL BORROWING |
|
|
88.970 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
136.730 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
18.216 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.027 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
25.571 |
|
|
Sundry Debtors |
|
|
62.667 |
|
|
Cash & Bank Balances |
|
|
4.953 |
|
|
Other Current Assets |
|
|
1.436 |
|
|
Loans & Advances |
|
|
33.861 |
|
Total
Current Assets |
|
|
128.488 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
4.447 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
5.554 |
|
Total
Current Liabilities |
|
|
10.001 |
|
|
Net Current Assets |
|
|
118.487 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
136.730 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
906.618 |
894.268 |
862.228 |
|
|
|
Other Income |
0.738 |
1.303 |
0.836 |
|
|
|
TOTAL (A) |
907.356 |
895.571 |
863.064 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
657.125 |
699.058 |
|
|
|
|
Purchase of Stock-in-trade |
184.567 |
152.365 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
5.438 |
(5.749) |
|
|
|
|
Employee Benefits Expenses |
3.649 |
3.127 |
|
|
|
|
Other Expenses |
40.606 |
31.537 |
|
|
|
|
TOTAL (B) |
891.385 |
880.338 |
846.945 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
15.971 |
15.233 |
16.119 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
10.166 |
9.685 |
10.838 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
5.805 |
5.548 |
5.281 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
2.727 |
2.597 |
2.428 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
3.078 |
2.951 |
2.853 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.125 |
0.920 |
0.893 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
1.953 |
2.031 |
1.960 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
88.13 |
85.95 |
NA |
|
Expected Sales (2013-2014): Rs.1100.000 Millions
The above information parted by Mr. Vidur Mohata (Director)
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.22 |
0.23 |
0.23 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.34 |
0.33 |
0.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.83 |
1.37 |
1.94 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.03 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.42 |
0.89 |
1.86 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.31 |
2.64 |
12.85 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2011 |
31.03.2012 |
|
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
|
22.960 |
22.960 |
|
Reserves & Surplus |
|
82.291 |
84.244 |
|
Net worth |
|
105.251 |
107.204 |
|
|
|
|
|
|
long-term borrowings |
|
35.545 |
0.462 |
|
Short term borrowings |
|
60.340 |
44.422 |
|
Total
borrowings |
|
95.885 |
44.884 |
|
Debt/Equity
ratio |
|
0.911 |
0.419 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
862.228 |
894.268 |
906.618 |
|
|
|
3.716 |
1.381 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
862.228 |
894.268 |
906.618 |
|
Profit |
1.960 |
2.031 |
1.953 |
|
|
0.23% |
0.23% |
0.22% |
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 |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
No |
|
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 |
31.03.2012 Rs. In Millions |
31.03.2011 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Loans from
others |
44.422 |
60.340 |
|
Total |
44.422 |
60.340 |
INDEX
OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90187840 |
16/11/2013 * |
170,000,000.00 |
STATE BANK OF INDIA |
Plot No. P 7/2,Midc Area, Ajanta Road, Jalgaon, Maharashtra - 425003, India |
B90911546 |
|
2 |
90187690 |
10/08/2004 * |
9,100,000.00 |
STATE BANK OF INDIA |
Jalgaon Miuc Area, Jalgaon, Maharashtra, India |
- |
|
3 |
90240130 |
06/09/2005 * |
9,100,000.00 |
SBI BANK |
Jalgoan Midc Br, Jalgoan, Maharashtra - 425003, India |
- |
*Date of modification Charges
FIXED ASSETS:
·
Factory Land
·
Building
·
Labour Quarters
·
Furniture and Fixture
·
Plant and Machinery
·
Rills
·
Computer
·
Vehicles
NEWS:
HOW FOOD COS ARE
REWORKING SUPPLIER NETWORKS TO SAVE EVERY RUPEE
KOLKATA/NEW DELHI: Selling less for more is not enough. With commodity
inflation a continuous threat to growth, foods companies are frantically
reworking supplier networks, hedging risks through futures trading, and taking
a closer look at product attributes to save every precious rupee.
But these strategies may not sufficiently protect dwindling profit
margins and shaky sales in an intensely competitive market. Commodity companies
say they will continue to pass on all price increases in the coming months.
Food commodity prices touched a two-year high in January. Palm oil, used in
soaps and cosmetics, has risen 75%, sunflower oil 60% and crude oil 40% over
the last year. Some of these increases still have to feed through on FMCG
balance sheets.
Said maker of Sunfeast biscuits and pasta, and Bingo potato chips ITC
Foods divisional chief executive Chitranjan Dar: "We are relooking at
various cost-saving strategies. We have done it in the past as well, but
there's a sense of urgency now."
It is identifying products and packaging with qualities the consumer
does not need and will cut them down. The foods arm of the cigarettes-to-hotels
giant is also trying to see if it can import in Rupee contracts. "In
addition, we are inking multiple supplier contracts to procure at competitive
rates," Dar adds.
Jude Magima, ED (supply management) at Dabur, maker of Vatika shampoo
and Real juice, said: "We have been through such inflationary cycles
before and are adopting multiple ways to deal with it. But the big concern for
us is – what happens if the inflation begins to impact consumer demand."
Among Dabur's strategies is buying through futures exchanges. "We
have saved profit margins of 1-1 .5% in the current scenario because of
procuring raw material through futures exchanges," Magima said. He added
that the firm is consolidating its suppliers to maximimise economies of scale.
Luckily, a few commodities such as sugar have become cheaper than last
year. Moreover, large suppliers are willing to cooperate by paring their own
costs. Sanjay Tapriya, chief financial officer, Simbhaoli Sugars said:
"Sugar price is controlled by government.
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 records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.28 |
|
UK Pound |
1 |
Rs.103.84 |
|
Euro |
1 |
Rs.85.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
31 |
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.