MIRA
INFORM REPORT
|
Report Date : |
15.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
PARAG MILK FOODS PRIVATE LIMITED (w.e.f. 11.04.2008) |
|
|
|
|
Formerly Known
As : |
PARAG MILK AND MILK PRODUCTS PRIVATE LIMITED |
|
|
|
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Registered
Office : |
Flat No.1, Plot No.19, Nav Rajasthan Society, Behind Ratna Memorial
Hospital, S.B. Road, Shivaji Nagar, Pune – 411 016, Maharashtra |
|
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|
|
Country : |
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|
|
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Financials (as
on) : |
31.03.2013 |
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|
Date of
Incorporation : |
29.12.1992 |
|
|
|
|
Com. Reg. No.: |
11-070209 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.159.695 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15204MH1992PTC070209 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEP02591B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCP0425G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Milk Products such as Ghee,
Butter, Cheese and Milk Powder. |
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|
|
|
No. of Employees
: |
150 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 3500000 |
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|
|
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow But Correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having moderate track record. External borrowing of the company seems to be huge, which acts as
threat to the liquidity position of the company. However, trade relations are fair. Business is active. Payments terms
are as slow but correct. The company 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
|
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
NEWS
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.
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
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
.
. Ukrain’s clashes with rebels hinder MH17 crash investigation
.
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in
. 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 |
BB+ [Long Term] |
|
Rating Explanation |
High risk of default |
|
Date |
02.09.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Ajit Marathe |
|
Designation : |
Accountant |
|
Contact No.: |
91-9890700668 |
|
Date : |
12.09.2014 |
LOCATIONS
|
Registered Office : |
Flat No.1, Plot No.19, Nav Rajasthan Society, Behind Ratna Memorial
Hospital, S.B. Road, Shivaji Nagar, Pune – 411 016, Maharashtra, India |
|
Tel. No.: |
91-20-25674762/ 25674761/ 2133224761 |
|
Mobile No.: |
91-9890700668 (Mr. Ajit Marathe) |
|
Fax No.: |
91-20-25674763/ 25674761 / 2133223940 |
|
E-Mail : |
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|
Website : |
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|
Area : |
2000 sq. ft. |
|
Location : |
Owned |
|
|
|
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Corporate
Office/ Factory 1 : |
Awasari Phata, Manchar, District Pune – 410 503, |
|
Tel. No.: |
91-21-33224763 |
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E-Mail : |
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|
Location : |
Owned |
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Factory 2 : |
Village Samudrapalle, and Panchayat Palmner Handal, |
|
Location : |
Owned |
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|
Marketing Office
1 : |
8th Floor, 81-A Wing, Mittal Court, Nariman Point, Mumbai – 400021, |
|
Tel. No.: |
91-22-22844763 / 43005555 / 43005553 |
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|
|
|
Eastern Regional
Office 1 : |
P-12, Kalindi Housing Estate, Ground Floor, Kolkata – 700 089, West |
|
Tel. No.: |
91-33-25223090/ 25223092 |
|
E-Mail : |
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Marketing Office 2
: |
20th Floor, |
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|
|
|
Eastern Regional
Office 2 : |
P-46, |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Pritam Prakash Shah |
|
Designation : |
Managing Director |
|
Address : |
Bhagyalaxmi Niwas, Bazar Peth, Post Manchar, Ambegaon – 410503, Pune, |
|
Date of Birth/Age : |
01.11.1970 |
|
Qualification : |
B.Com |
|
Experience : |
16 Years |
|
Date of Appointment : |
29.312.1992 |
|
Din No.: |
01127247 |
|
|
|
|
Name : |
Mr. Devendra Prakash Shah |
|
Designation : |
Director |
|
Address : |
Bhagyalaxmi Niwas, Bazar Peth, Post Manchar, Ambegaon – 410503, Pune, |
|
Date of Birth/Age : |
27.04.1964 |
|
Qualification : |
B.Com |
|
Experience : |
16 Years |
|
Date of Appointment : |
29.12.1992 |
|
Din No.: |
01127319 |
|
|
|
|
Name : |
Mr. Parag Prakash Shah |
|
Designation : |
Director |
|
Address : |
Bhagyalaxmi Niwas, Bazar Peth, Post Manchar, Ambegaon – 410503, Pune, |
|
Date of Birth/Age : |
22.06.1967 |
|
Date of Appointment : |
29.12.1992 |
|
Din No.: |
01127099 |
|
|
|
|
Name : |
Mr. Dhaval Sumantrai Desai |
|
Designation : |
Director |
|
Address : |
405, Gayatri Opposite Pratap Society, |
|
Date of Birth/Age : |
14.09.1956 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
15.01.2008 |
|
Din No.: |
00510044 |
|
|
|
|
Name : |
Mr. Sunil Badriprasad Goyal |
|
Designation : |
Director |
|
Address : |
731/ A, 7th Floor, Akshay Girikunj – III, |
|
Date of Birth/Age : |
04.10.1967 |
|
Date of Appointment : |
15.01.2008 |
|
Din No.: |
00503570 |
|
|
|
|
Name : |
Mr. Rakesh Ram Gopal Sony |
|
Designation : |
Director |
|
Address : |
Lotus Court, Flat No.10, 2nd Floor, |
|
Date of Birth/Age : |
02.01.1976 |
|
Date of Appointment : |
06.02.2009 |
|
Din No.: |
00363053 |
|
|
|
|
Name : |
Mr. Bharatkumar Mahendrabhai Vyas |
|
Designation : |
Director |
|
Address : |
A-1, Kaira Can Complex, Near Chikhorda Railway Crossing, Anand-388001,
|
|
Date of Birth/Age: |
05.05.1950 |
|
Date of Appointment : |
22.07.2010 |
|
Din No.: |
00043804 |
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|
|
|
Name : |
Mr. Ggirish Dinantath Nadkarni |
|
Designation : |
Director |
|
Address : |
B/5, Shree, Saikrupa Co-operative Housing Society Limited, |
|
Date of Birth/Age: |
21.10.1968 |
|
Date of Appointment : |
17.09.2013 |
|
Din No.: |
00043804 |
KEY EXECUTIVES
|
Name : |
Mr. Dharmendra Kumar Vyas |
|
Designation : |
Secretary |
|
Address : |
Near Old Kotwali, |
|
Date of Birth/Age : |
20.11.1983 |
|
Date of Appointment : |
13.11.2011 |
|
Pan No.: |
AEMPV2653N |
|
|
|
|
Name : |
Mr. Ajit Marathe |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS
AS ON 30.09.2013
Name of Shareholders File is attached
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
13.43 |
|
Directors
or relatives of directors |
85.46 |
|
Other
top fifty shareholders |
1.11 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Customer : |
End Users |
|
|
|
|
Line of Business : |
Manufacturer, Exporter and Importer of Milk Products such as Ghee,
Butter, Cheese and Milk Powder. |
|
|
|
|
Products : |
·
Ghee ·
Butter ·
Cheese ·
Cream ·
Gulab Jamun Mix ·
Milk Powders ·
Curd ·
Butter Milk ·
Butter Oil ·
Dairy Whitener ·
Milk |
|
|
|
|
Brand Names : |
“GOWARDHAN” |
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|
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|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
·
·
UAE ·
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|
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|
Imports : |
|
|
Products : |
Raw Materail |
|
Countries : |
·
·
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|
Terms : |
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Selling : |
L/C / Credit |
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|
|
|
Purchasing : |
L/C / Credit |
PRODUCTION STATUS [AS ON 31.03.2011]
INSTALLED
CAPACITIES:
|
Particulars |
As
at March 31, 2011 |
|
Pasteurized Milk |
1700000 LPD |
|
Condensed Milk |
105 TPD |
|
Cream/ Ghee/ Cheese |
65 TPD |
|
SMP/ Dairy Whitener/ Gulab Jamun Mix/ Real Milk Powder |
65 TPD |
GENERAL INFORMATION
|
No. of Employees : |
150 (Approximately) |
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Bankers : |
· Export - Import Bank of India, Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai – 400 005, Maharashtra, India ·
Bank of ·
Union Bank of · Union Bank of India, Pune Camp Branch, Aurora Towers, M.G. Road, Pune – 411 001, Maharashtra, India ·
State Bank of ·
Standard Chartered Bank, Mumbai, ·
IDBI Bank, Pune, |
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Facilities : |
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Banking
Relations : |
--- |
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Auditors : |
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|
|
|
|
Name: |
Haribhakti and Company Chartered Accountants |
|
|
|
|
Subsidiaries : |
Bhagyalaxmi Dairy Farms Private Limited CIN No.: U01211PN2003PTC018624 |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15969465 |
Equity Shares |
Rs.10/- each |
Rs.159.695 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 |
159.695 |
158.103 |
158.103 |
|
(b) Reserves & Surplus |
714.717 |
558.918 |
463.173 |
|
(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) |
874.412 |
717.021 |
621.276 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2244.795 |
1510.124 |
1246.993 |
|
(b) Deferred tax liabilities (Net) |
127.273 |
125.409 |
92.614 |
|
(c) Other long term liabilities |
23.647 |
60.534 |
57.980 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
2395.715 |
1696.067 |
1397.587 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
2232.704 |
2126.290 |
1481.458 |
|
(b) Trade payables |
856.341 |
774.375 |
498.609 |
|
(c) Other current
liabilities |
434.068 |
427.641 |
395.150 |
|
(d) Short-term provisions |
2.164 |
50.867 |
35.973 |
|
Total Current Liabilities (4) |
3525.277 |
3379.173 |
2411.190 |
|
|
|
|
|
|
TOTAL |
6795.404 |
5792.261 |
4430.053 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1951.204 |
2034.937 |
1715.308 |
|
(ii) Intangible Assets |
3.216 |
2.714 |
2.976 |
|
(iii) Capital
work-in-progress |
29.420 |
41.724 |
285.320 |
|
(iv)
Intangible assets under development |
32.082 |
28.295 |
0.000 |
|
(b) Non-current Investments |
180.741 |
177.698 |
177.698 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
835.477 |
452.448 |
146.032 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
5.543 |
|
Total Non-Current Assets |
3032.140 |
2737.816 |
2332.877 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1355.301 |
1351.159 |
1130.229 |
|
(c) Trade receivables |
1517.918 |
1191.470 |
823.363 |
|
(d) Cash and cash
equivalents |
28.792 |
22.159 |
19.706 |
|
(e) Short-term loans
and advances |
532.328 |
289.974 |
41.194 |
|
(f) Other current
assets |
328.925 |
199.683 |
82.684 |
|
Total Current Assets |
3763.264 |
3054.445 |
2097.176 |
|
|
|
|
|
|
TOTAL |
6795.404 |
5792.261 |
4430.053 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
9268.700 |
8793.600 |
6284.800 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
9268.700 |
8793.600 |
6284.800 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
8362.000 |
8056.100 |
5791.800 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
8362.000 |
8056.100 |
5791.800 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
906.700 |
737.500 |
493.000 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
238.400 |
202.600 |
172.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX |
668.300 |
534.900 |
321.000 |
|
|
|
|
|
|
|
|
|
|
INTEREST |
393.700 |
365.200 |
201.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
274.500 |
169.700 |
119.300 |
|
|
|
|
|
|
|
|
|
|
PROVISION FOR
TAX |
|
|
|
|
|
|
Income Tax |
26.200 |
39.600 |
34.400 |
|
|
|
Deferred Tax |
12.300 |
32.800 |
36.200 |
|
|
|
Taxes of Earlier Years |
120.800 |
(0.500) |
1.400 |
|
|
|
Wealth Tax |
0.000 |
0.000 |
0.000 |
|
|
|
MAT (Minimum Alternate Tax) |
(62.900) |
(1.400) |
16.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
121.500 |
95.700 |
30.900 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
479.500 |
383.800 |
357.100 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
611.400 |
479.500 |
383.800 |
|
|
|
|
|
|
|
|
|
|
EARNING IN
FOREIGN CURRENCY |
|
|
|
|
|
|
F.O.B. Value Of Export |
494.858 |
98.538 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
26.625 |
27.752 |
25.312 |
|
|
|
Capital Goods |
22.531 |
3.667 |
34.314 |
|
|
TOTAL IMPORTS |
49.156 |
31.419 |
59.626 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.10/-) |
8.26 |
6.06 |
--- |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
12500.000 |
|
|
|
|
|
The above information has been parted by Mr. Ajit Marathe.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.31
|
1.08 |
0.49 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.18
|
3.06 |
3.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31
|
0.23 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.83
|
5.07 |
4.39 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06
|
0.90 |
0.86 |
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 |
158.103 |
158.103 |
159.695 |
|
Reserves & Surplus |
463.173 |
558.918 |
714.717 |
|
Net
worth |
621.276 |
717.021 |
874.412 |
|
|
|
|
|
|
long-term borrowings |
1246.993 |
1510.124 |
2244.795 |
|
Short term borrowings |
1481.458 |
2126.290 |
2232.704 |
|
Total
borrowings |
2728.451 |
3636.414 |
4477.499 |
|
Debt/Equity
ratio |
4.392 |
5.072 |
5.121 |
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) |
|
Total Income |
6284.800 |
8793.600 |
9268.700 |
|
|
|
39.919 |
5.403 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
6284.800 |
8793.600 |
9268.700 |
|
Profit/(Loss) After Tax |
30.900 |
95.700 |
121.500 |
|
|
0.49% |
1.09% |
1.31% |
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 |
Yes |
|
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 four 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 |
Yes |
|
20] |
Export /
Import details (if applicable) |
Yes |
|
21] |
Market
information |
--- |
|
22] |
Litigations
that the firm / promoter involved in |
Yes |
|
23] |
Banking
Details |
Yes |
|
24] |
Banking
facility details |
Yes |
|
25] |
Conduct of
the banking account |
--- |
|
26] |
Buyer visit
details |
--- |
|
27] |
Financials,
if provided |
No |
|
28] |
Incorporation
details, if applicable |
Yes |
|
29] |
Last accounts
filed at ROC |
Yes |
|
30] |
Major
Shareholders, if available |
Yes |
|
31] |
Date of Birth
of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No
of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
Yes |
LITIGATION DETAILS
|
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UNSECURED LOAN
|
Particulars |
As
on 31.03.2013 [Rs.
In Millions] |
As
on 31.03.2012 [Rs.
In Millions] |
|
Long Term Loan |
|
|
|
Fully Convertible Debentures |
1250.000 |
550.000 |
|
Non - Convertible Debentures |
180.000 |
0.000 |
|
Other Loans and Advances |
0.000 |
400.000 |
|
|
|
|
|
Short
Term Loan |
|
|
|
Working Capital Loans From Banks |
8.251 |
3.192 |
|
Loans Repayable on Demand |
0.000 |
39.481 |
|
Loans Repayable on Demand Others |
201.105 |
50.000 |
|
Deposits From Directors |
27.503 |
29.844 |
|
|
|
|
|
Total |
1666.859 |
1072.517 |
CURRENT MATURITIES
OF LONG-TERM DEBT
|
Particulars |
As
on 31.03.2013 [Rs.
In Millions] |
As
on 31.03.2012 [Rs.
In Millions] |
As
on 31.03.2011 [Rs.
In Millions] |
|
|
|
|
|
|
Current Maturities of Long-Term Debt |
290.256 |
295.081 |
202.577 |
VIEW INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10443204 |
12/08/2013 |
250,000,000.00 |
Union Bank of |
619, |
B82171810 |
|
2 |
10429908 |
15/05/2013 |
130,000,000.00 |
Union Bank of |
Industrial Financial Branch, |
B76640630 |
|
3 |
10377612 |
09/08/2012 |
100,000,000.00 |
Union Bank of |
|
B58501412 |
|
4 |
10342253 |
20/03/2012 |
100,000,000.00 |
EXPORT IMPORT BANK OF |
|
B35045012 |
|
5 |
10354822 |
25/08/2011 |
120,000,000.00 |
UNION BANK OF |
Industrial Finance Branch, 619, |
B28195378 |
|
6 |
10354826 |
28/05/2013 * |
590,000,000.00 |
State Bank of |
Tara Chambers,2nd floor, Near Mariaai
Policechowky, Maharashtra - 411003, |
B77454544 |
|
7 |
10249487 |
01/11/2010 |
28,257,535.00 |
ELECTRONICA FINANCE LIMITED |
128/A, Plot No.3,Kailashchandra Appartments,,
|
A98579113 |
|
8 |
10176312 |
24/12/2009 * |
100,000,000.00 |
State Bank of |
Industrial Finance Branch, Tara Chambers,,
Mumbai |
A77456770 |
|
9 |
10146538 |
15/02/2013 * |
1,755,700,000.00 |
Union Bank of |
|
B70314893 |
|
10 |
10146539 |
23/02/2009 |
760,000,000.00 |
UNION BANK OF |
INDUSTRIAL FINANCE BRANCH, 691, |
A58278912 |
* Date of charge modification
BUSINESS OVERVIEW
THE CHART BELOW SHOWS GROWTH TREND OF
THE COMPANY:-
The Company
has marked a total income of Rs. 9268.700 Millions for the Financial Year
2012-2013 as against Rs. 8785.400 Millions during the Financial Year 2011-2012,
an increase by ~6 %during the year. In an increasingly competitive environment
where the profit and profitability are greatly impacted by commodity inflation,
the Profit before tax (PBT) for the year is Rs.274.500 Millions as against
Rs.169.700 Millions an increase of 61.75% during the previous Financial Year.
The significant improvement in the bottom line is possible due to change in the
product mix, wherein the company is more focused on the value added products.
REVIEW OF OPERATIONS
Growing Consumer
aspiration in the urban
The Company's
Cheese production continued to represents a key pillar for the future growth
due to its unique advantage of being
Ghee has been one
of the flagship products of our portfolio under �Gowardhan� brand and
during the year. Total Sale/production of Ghee is 7920.59 tonnes during the
Financial Year 2012-2013as against 7883.61 tonnes during the previous Financial
Year 2011-12 and Sale/Production of Dhai7365.91 tonnes during the Financial
Year 2012-2013 as against 5565.00 tonnes during the previous year 2011-12. This
resulted significant growth in the Dhai sale with growth of 32.36 %. There is a
significant growth in Sales of Butter 28.26% the total sale of Butter is
2103.45 Tonnes during the Financial Year 2012-2013 as against of 1639.94 Tonnes
during the previous year.
During the
previous year the significant capital expenditure was made to expand the
existing capacity at Planer mainly in UHT plant, resultant the full-fledged
commercial production of UHT milk started.
MARKETING AND DISTRIBUTION NETWORK
Company has its
distribution network on pan
NOTE :-
Registered office of the company has been
shifted from 602, Kumar Purammukund Nagar, Pune – 411037,
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] 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.60.84 |
|
|
1 |
Rs.98.73 |
|
Euro |
1 |
Rs.78.64 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
34 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.