MIRA INFORM REPORT
|
Report Date : |
22.02.2014 |
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, Dynasty Business Park, 58 Andheri Kurla Road, Andheri
(East), Mumbai – 400 059, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
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 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
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 the 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 |
|
Maximum Credit Limit : |
USD 13000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exists |
|
|
|
|
Comments : |
Subject is a subsidiary of Schreiber International Inc. It is a
well-established company having a fine track record. The rating reflects strong financial risk profile, marked by a low
gearing and strong debt protection metrics, and diversified product portfolio
and established relationships with its clients. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. 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
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 |
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
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Saneep Kamat |
|
Designation : |
Assistant Finance Manager |
|
Date: |
19.02.2014 |
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 / SHAREHOLDING PATTERN
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. |
||||||||||||||||
|
|
|
||||||||||||||||
|
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 |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
Tel.
No.: 91-22-28380058
Tel.
No.: 91-22-66699000
|
|||||||||||||||
|
|
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
|
|
|
|
|
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: |
|
|
|
|
|
Holding company: |
|
|
|
|
|
Fellow Subsidiary company: |
|
|
|
|
|
Associate: |
CIN: U55200MH1983PTC031709
CIN: U70100MH1979PTC020933
CIN: U36100MH2005PTC156430
CIN: U51900MH1982PTC027524
CIN: U36911MH2007PTC175044
CIN: U36911MH2004PTC144344
CIN: U36910MH2005PTC150740
CIN: U36910MH1995PTC088038
CIN: U27205MH2006PTC165520
CIN: U01403MH2010PLC208645
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:
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
||
|
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS
CASE DETAILS
BENCH:-BOMBAY
|
Lodging No.:- |
RPAL/19/2013 |
Filing Date:- |
01/03/2013 |
Reg. No.:- |
RPA/48/2013 |
Reg. Date:- |
17/10/2013 |
|
Main Matter |
|||||
|
Lodging No.:- |
ITXAL/550/2011 |
Reg No.:- |
ITXA/1381/2011 |
||
|
Petitioner:- |
Commissioner of Income Tax Central -I |
Respondent:- |
M/S Schriber Dynamix Dairies Limited |
|
Petn.Adv.:- |
P C Chhotaray |
Resp.Adv.:- |
0 |
|
District:- |
MUMBAI |
|
Bench:- |
SINGLE |
||||
|
Status:- |
Pre-Admission |
Category:- |
REVIEW PETITIONS. |
|
Last Date:- |
29/08/2013 |
Stage:- |
FOR REJECTION [ORIGINAL SIDE MATTERS] |
|
Last Coram:- |
REGISTRAR(OS)/PROTHONOTARY & SR. MASTER |
|
Act :- |
Income Tax Act, 1961 |
Under Section:- |
260A |
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
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.
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.
INDEX
OF CHARGES
|
S.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 |
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 |
- |
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and
equipment
- Furniture and
fixtures
- Vehicles
- Leasehold
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 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] 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.62.16 |
|
|
1 |
Rs.103.44 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
YES |
|
--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.