MIRA
INFORM REPORT
|
Report Date : |
24.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
CARGILL INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
111, Rectangle-I, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
12.04.1996 |
|
|
|
|
Com. Reg. No.: |
55-118008 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.415.985 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15440DL1996PTC118008 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC3269J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of Agricultural, Industrial and Food
Products. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 19860000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is a subsidiary of Cargill Mauritius Limited, Mauritius. It is
an established company having satisfactory track record. The company has taken huge external borrowing, which acts as
threatening to the liquidity position of the company. However, the rating reflects financial and managerial support that
company receives from its parent. Further company has been able to recover
its operational losses during current financial year. Trade relations are fair. Business is active. Payment terms are reported
to be usually correct. In view of strong holding support, the company can be considered for
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.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
N E W S
Verdict Implications:
Apex court order may alter coal import dynamics. Traders go slow on talks over
coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains revenue
guidance. COO Rao says attrition still an area of concern and it would take a
few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund based facilities AA+(So) |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
March 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non-fund based facilities A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
March 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 DECLINED
Management Non-cooperative. (Tel. No.: 91-124-6358939).
LOCATIONS
|
Registered Office : |
111, Rectangle-I, Saket District Center, New Delhi – 110017, India |
|
Tel. No.: |
91-11-46010389 |
|
Fax No.: |
91-11-46010390 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
14th Floor, Building 9 A,
DLF Cyber City, Phase III, Gurgaon – 122002, Haryana, India |
|
Tel. No.: |
91-124-2358939/
4090489 |
|
Fax No.: |
91-124-2358977/ 2358972/ 73 |
|
|
|
|
Regional Offices : |
Located
at: ·
Ghaziabad Kolkata Mumbai Pune Nagpur |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Siraj Azmat Chaudhry |
|
Designation : |
Director |
|
Address : |
S-12B, Windsor Court, DLF Phase IV, Gurgaon-122009, Haryana, India |
|
Date of Birth/Age : |
08.01.1967 |
|
Date of Appointment : |
30.09.2008 |
|
DIN No.: |
00161853 |
|
|
|
|
Name : |
Mr. Viraraghavan Sankaran |
|
Designation : |
Director |
|
Address : |
519-A, Hamilton Court, DLF Phase IV, Gurgaon -122002, Haryana, India |
|
Date of Birth/Age : |
07.04.1964 |
|
Date of Appointment : |
30.09.2008 |
|
DIN No.: |
00174728 |
|
|
|
|
Name : |
Mr. Srinivasa Rao Namburi |
|
Designation : |
Director |
|
Address : |
B-1102, Park Life, Sector-57, Gurgaon-122011, Haryana, India |
|
Date of Birth/Age : |
14.10.1975 |
|
Date of Appointment : |
28.09.2012 |
|
DIN No.: |
03614838 |
|
|
|
|
Name : |
Mr. Parmeshwar Ravi |
|
Designation : |
Director |
|
Address : |
115, Hamilton Court, DLF Phase 4, Gurgaon 122002, Haryana, India |
|
Date of Birth/Age : |
12.02.1966 |
|
Date of Appointment : |
28.09.2012 |
|
DIN No.: |
05216282 |
|
|
|
|
Name : |
John Joseph |
|
Designation : |
Director |
|
Address : |
Flat No. 201, Hillscapes, Pashan-Baner Link Road, Pashan, Pune – 411021, Maharashtra, India |
|
Date of Birth/Age : |
26.05.1966 |
|
Date of Appointment : |
22.10.2012 |
|
DIN No.: |
01520069 |
KEY EXECUTIVES
|
Name : |
Ms. Jyoti Arora |
|
Designation : |
Secretary |
|
Address : |
H.No.768/22, Street No. 2, Gandhi Nagar, Gurgaon-122 001, Haryana, India |
|
Date of Birth/Age : |
25.07.1981 |
|
Date of Appointment : |
21.10.2008 |
|
PAN No.: |
AIAPA1497K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Equity Shareholders |
No. of Shares |
|
Cargill Mauritius Limited, |
54480683 |
|
Cargill International Trading Pte. Limited, Singapore |
2 |
|
|
|
|
Total |
54480685 |
|
Names of Preference Shareholder |
No. of Shares |
|
Cargill Global Trading India Private Limited, |
1250000 |
|
Total |
1250000 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Agricultural, Industrial and Food
Products. |
||||||||||
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|
||||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
Licensed capacity
/ Installed Capacity *
|
Particulars |
Units |
Licensed
Capacity |
|
Edible oil refining |
MT per annum |
1140000 |
|
Aqua feed |
MT per annum |
36000 |
|
Emulsion and food flavors |
MT per annum |
2500 |
|
Others * * |
MT per annum |
190800 |
NOTE:
· *As certified by the management and not verified by the Auditor being a technical matter.
**Represents
installed capacity of distilled fatty acid (25500 MT), acid oil (13800 MT),
hydro vasnaspati (150000 MT) and packing film extrusion (1500 MT).
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|||||||||||||||
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|
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|
Bankers : |
· HDFC Bank Limited · State Bank of India · Axis Bank Limited |
|||||||||||||||
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|
|||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
Building No. 10, 8th Floor, Tower – B, |
|
Tel. No. : |
91-124-2549191 |
|
Fax No. : |
91-124-2549101 |
|
PAN
No. : |
AAAFB9852F |
|
|
|
|
Holding company
: |
Cargill Mauritius Limited, Mauritius |
|
|
|
|
Ultimate holding
company : |
Cargill Incorporated, USA |
|
|
|
|
Fellow
subsidiaries : |
Ø Agribrands
Purina (Fushun) Feedmill Company Limited Ø Agribrands
Purina Guatemala Ø AWB Australia Ø AWB India
Private Limited Ø Black River
Advisors India Private Limited Ø CAN Technologies
Inc, US Ø Cargill
(Malaysia) SDN BHD Ø Cargill Agri
Purina Inc South Korea Ø Cargill Asia
Pacific Treasury Limited, Singapore Ø Cargill
Asia-Pacific Holdings Pte Limited, Singapore Ø Cargill
Australia Limited Ø Cargill BV,
Amsterdam Ø Cargill Capital
and Financial Ø Services India
Private Limited Ø Cargill Cotton
Limited Ø Cargill
Enterprise Inc, Russia Ø Cargill Europe
BVBA , Belgium Ø Cargill
Financial Services Corporation, USA Ø Cargill Flavours
System Limited, UK Ø Cargill Food
Ingredients LLC, US Ø Cargill France S.A. Ø Cargill Gida
(Turkey) Ø Cargill Global
Trading India Private Limited Ø Cargill Global
Trading Solutions India Private Limited Ø Cargill Grain
and Oilseeds (Yangjiang) Limited Ø Cargill Holdings
B.V. Ø Cargill Holdings
Malaysia SDN BHD Ø Cargill
Incorporated, USA Ø Cargill
International Luxembourg Ø Cargill
International S A, Geneva Ø Cargill
International Trading Pte Limited, Singapore Ø Cargill
Investments (China) Limited. Ø Cargill Limited
- Cargill Limited Canada Ø Cargill Limited.
- Cairo Ø Cargill Malaysia
SDN BHD Ø Cargill
Nutriproducts Inc Ø Cargill Ocean Ø Transportation,
Singapore Ø Cargill Oil
Packers BVBA Ø Cargill Palm
Products SDN, BHD, Malaysia Ø Cargill
Philippines, Inc. Ø Cargill
President Holdings Pte Limited Ø Cargill Protein
Feed (Dongguan) Limited Ø Cargill RSA
Holdings Ø Cargill S.A. Ø
Cargill SAS, France Ø
Cargill Siam Limited, Ø
Cargill Siam Limited Ø
Cargill Tropical Palm Holdings Pte Limited Ø
Cargill TSF Asia Pte Limited, Singapore Ø
Cargill Vietnam Limited Ø
Carval India Private Limited Ø
Cerestar Deutschland Holding Ø
CFSI Ø
CFSIT Ø
Mosaic India Private Limited Ø
P.T Cargill Indonesia Ø
Poliamba Limited Ø
Provimi Animal Nutition India Private Limited |
CAPITAL STRUCTURE
After 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
120000000 |
Equity Shares |
Rs.10/- each |
Rs.1200.000 Millions |
|
26000000 |
Preference Shares |
Rs.10/- each |
Rs.260.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.1460.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
54480685 |
Equity Shares |
Rs.10/- each |
Rs.544.807 Millions |
|
1250000 |
Preference Shares |
Rs.10/- each |
Rs.12.500 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.557.307
Millions |
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
120000000 |
Equity Shares |
Rs.10/- each |
Rs.1200.000 Millions |
|
26000000 |
Preference Shares |
Rs.10/- each |
Rs.260.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.1460.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40348556 |
Equity Shares |
Rs.10/- each |
Rs.403.485 Millions |
|
1250000 |
Preference Shares |
Rs.10/- each |
Rs.12.500 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.415.985
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 |
415.985 |
415.985 |
410.459 |
|
(b) Reserves & Surplus |
1823.457 |
940.503 |
1511.905 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
2725.598 |
0.000 |
67.425 |
|
Total
Shareholders’ Funds (1) + (2) |
4965.040 |
1356.488 |
1989.789 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
543.000 |
102.170 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
196.620 |
184.103 |
180.451 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
739.620 |
286.273 |
180.451 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
11039.988 |
17298.062 |
18204.369 |
|
(b) Trade payables |
8667.741 |
5692.454 |
3436.347 |
|
(c) Other current
liabilities |
2202.180 |
3014.087 |
2812.131 |
|
(d) Short-term provisions |
188.725 |
204.085 |
92.517 |
|
Total Current Liabilities (4) |
22098.634 |
26208.688 |
24545.364 |
|
|
|
|
|
|
TOTAL |
27803.294 |
27851.449 |
26715.604 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1975.914 |
1715.810 |
1704.924 |
|
(ii) Intangible Assets |
812.410 |
711.726 |
800.542 |
|
(iii) Capital
work-in-progress |
153.411 |
148.247 |
119.773 |
|
(iv)
Intangible assets under development |
554.227 |
549.518 |
434.652 |
|
(b) Non-current Investments |
35.694 |
35.694 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1365.852 |
1133.455 |
688.945 |
|
(e) Other Non-current assets |
1057.013 |
297.223 |
55.811 |
|
Total Non-Current Assets |
5954.521 |
4591.673 |
3804.647 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
13014.056 |
15156.447 |
14091.460 |
|
(c) Trade receivables |
2927.786 |
2598.580 |
4332.589 |
|
(d) Cash and cash
equivalents |
3957.473 |
1515.702 |
2708.404 |
|
(e) Short-term loans and advances |
1269.104 |
3193.183 |
1249.507 |
|
(f) Other current assets |
680.354 |
795.864 |
528.997 |
|
Total Current Assets |
21848.773 |
23259.776 |
22910.957 |
|
|
|
|
|
|
TOTAL |
27803.294 |
27851.449 |
26715.604 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
97890.390 |
|
|
|
|
|
Other Income |
1682.660 |
|
|
|
|
|
TOTAL (A) |
99573.050 |
85687.700 |
66653.020 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
94937.490 |
84484.060 |
64734.390 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
4635.560 |
1203.640 |
1918.630 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1115.270 |
1492.850 |
863.720 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3520.290 |
(289.210) |
1054.910 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2502.970 |
337.790 |
254.080 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
1017.320 |
(627.000) |
800.830 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
134.360 |
6.300 |
142.920 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
882.960 |
(633.300) |
657.910 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(993.390) |
(360.090) |
(1018.000) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(110.430) |
(993.390) |
(360.090) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
21.22 |
(15.22) |
15.81 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.89
|
(0.74) |
0.99 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.04
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.76
|
(2.31) |
3.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
(0.46) |
0.40 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.33
|
12.83 |
9.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.99
|
0.89 |
0.93 |
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 |
410.459 |
415.985 |
415.985 |
|
Reserves & Surplus |
1511.905 |
940.503 |
1823.457 |
|
Share Application money pending
allotment |
67.425 |
0.000 |
2725.598 |
|
Net
worth |
1922.364 |
1356.488 |
2239.442 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
102.170 |
543.000 |
|
Short term borrowings |
18204.369 |
17298.062 |
11039.988 |
|
Total
borrowings |
18204.369 |
17400.232 |
11582.988 |
|
Debt/Equity
ratio |
9.470 |
12.827 |
5.172 |
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 |
66653.020 |
85687.700 |
99573.050 |
|
|
|
28.558 |
16.205 |
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 |
66653.020 |
85687.700 |
99573.050 |
|
Profit |
657.910 |
(633.300) |
882.960 |
|
|
0.99% |
(0.74%) |
0.89% |
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 |
No |
|
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
NOTE: The Registered office of the company has been
shifted from 13, Abdul Fazal Road, New Delhi – 110001, India to the present
address w.e.f. 09.08.2007
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Rupee term loan from bank |
500.000 |
2460.000 |
|
Foreign currency term loans from bank |
5175.375 |
12158.465 |
|
Loans repayable on demand from bank |
2314.474 |
247.424 |
|
Loans and dance from others |
3050.139 |
2432.173 |
|
|
|
|
|
Total |
11039.988 |
17298.062 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90262634 |
10/03/2005 |
550,000.00 |
H.D.F.C. BANK LTD. |
SENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, Maharashtra - 400013,
INDIA |
- |
|
2 |
90262618 |
24/02/2005 |
20,000,000.00 |
STATE BANK OF INDIA |
SAIFABAD S.I.B. BRANCH, HYDERABAD, Andhra Pradesh - 500004, INDIA |
- |
|
3 |
80041726 |
10/01/2005 |
400,000,000.00 |
UTI BANK LTD |
DLF GALLERIA SHOPPING, GURGOAN, - 122002, ALAND ISLANDS |
- |
|
4 |
90262418 |
09/02/2004 |
4,500,000.00 |
STATE BANK OF INDIA |
SAIFABAD S.I.B. BRANCH, HYDERABAD, Andhra Pradesh - 500004, INDIA |
- |
|
5 |
90262212 |
18/04/2005 * |
11,500,000.00 |
STATE BANK OF INDIA |
SAIFABAD S.I.B. BRANCH, HYDERABAD, Andhra Pradesh - 500004, INDIA |
- |
|
6 |
90262207 |
20/10/2002 |
11,500,000.00 |
STATE BANK OF INDIA |
SAIFABAD BRANCH, HYDERABAD, Andhra Pradesh - 500004, INDIA |
- |
|
7 |
90261983 |
28/11/2000 |
2,276,000.00 |
AP INDUSTRIAL DEVELOPMENT CORPORATION |
5 - 9 - 58/B; FATEH MAIDAN ROAD, HYDERABAD, Andhra Pradesh - 500004,
INDIA |
- |
|
8 |
90261903 |
30/06/2001 * |
1,700,000.00 |
STATE BANK OF INDIA |
KHAIRTABAD BRANCH, HYDERABAD, Andhra Pradesh - 500004, INDIA |
- |
Date of charge modification
PERFORMANCE FOR THE YEAR
The company is
pleased to announce that it has achieved a turnover of Rs. 97890.390 millions
(net of excise duty) during the financial year 2011-12, showing a growth of 17%
over previous year. It has reported a net loss of Rs. 1017.320 millions (before
tax) during the current year.
FIXED ASSETS
· Land
Building
Plant
machinery
Office
Equipments
Computer
Equipments
Furniture
fixtures
Vehicles
Leasehold
improvements
Knowhow
Patents
trademarks design
PRESS RELEASE
Cargill’s edible oil portfolio expands with acquisition of Leonardo
Olive Oil from Dalmias
Acquisition bolsters Cargill’s consumer brand portfolio and expands
market reach in India
10th February, 2014
Gurgaon: Cargill today announced the signing of an agreement with Dalmia Continental Private Limited (DCPL) to acquire its Leonardo Olive Oil business. Leonardo, the leading brand in the olive oil segment, is a pioneer in establishing the popularity and use of olive oil in India. Cargill has a strong presence in the olive oil segment worldwide, and this acquisition will create a unique opportunity for Cargill to participate and create value of this nascent and high-growth category in India. This acquisition helps Cargill consolidate its position in the premium oils segment.
Commenting on the acquisition Mr. Siraj Chaudhry, Chairman, Cargill India, said “We have a history of acquiring brands with very high pedigrees. Leonardo Olive Oil is an iconic and trusted name associated with purity, goodness and cooking healthy delicious food, since 2003. Olive oil is a rapidly growing segment gaining much popularity as a healthy cooking option. This acquisition represents a natural extension of Cargill Food’s India strategy in the premium consumer space by providing a diversified portfolio of products. We will build on its strong brand heritage, and consumers will benefit from Cargill's commitment to quality, food safety, innovation and value.”
Expressing his thoughts on the acquisition, Mr. VN Dalmia, Chairman, Dalmia Continental, said “Dalmia Continental drove the olive oil market in India to high rates of growth and made Leonardo the leading brand. We were determined to let our baby go only to a new parent that we were certain would foster it with the same care and attention that we did. There is an inflection point in the life of each product and Leonardo is at that point. It is poised to take the next leap forward to retain its leadership status and Cargill is the best new parent to promote that effort.”
Cargill also announced that, post the acquisition, Mr. VN Dalmia has consented to be associated with Cargill as an advisor for the Leonardo Olive Oil business.
The olive oil market in India has grown rapidly in the last decade from 1,000 tonnes in 2003 to 12,000 tonnes in 2013, according to the Indian Olive Association.
"Acquiring Leonardo underscores Cargill's long-term commitment to growing our consumer food business in India. It is an excellent fit with our existing strong brand portfolio through which we serve a significant consumer base across the country. Leonardo’s acquisition will give us the relevant access and entry to a premium brand in edible oils which has the potential to be horizontally integrated across other premium and related food categories.” said Mr. Aseem Soni, Director – Consumer Sales, Cargill Foods India.
CARGILL’S GREENFIELD
DAIRY FEED MILL BREAKS GROUND IN BATHINDA, PUNJAB
Bathinda, February 26, 2014: Shri Sukhbir Singh Badal, Deputy Chief Minister, Punjab, along with Siraj Chaudhry, Chairman, Cargill India and Achyuth Iyengar, Managing Director, Cargill Feed & Nutrition-India broke ceremonial ground today on Cargill India’s greenfield dairy feed mill in Bathinda. The Rs. 70 crore project by Cargill, the global leader in animal nutrition, will cater to the growing need for quality feed for Punjab, Haryana and Rajasthan dairy farmers. The 1,20,000 MT state-of-the-art feed manufacturing plant will encompass an area of 8.5 acres, and use the latest technology from Cargill USA and Cargill Italy feed manufacturing plants.
The project is also expected to generate employment opportunities for approximately 200 people, along with providing training for 20,000 farmers annually on dairy nutrition, calf rearing and farm management best practices, Bringing the relevant nutrition, training and operational excellence best practices, the plant will produce nutritious diet for cows and allow for crop diversification, increasing grain usage by 12,500 metric tons per year.
Speaking on the occasion Shri Siraj Chaudhry, Chairman, Cargill India said, “India is already the largest milk producing country with key dairy states like Punjab, Haryana, and parts of Rajasthan. With the milk demand in India expected to grow by +80mil MT or 50% by 2023, the animal feed mill will play an essential role in catering to the increasing demand. Cargill Animal Nutrition plays a critical role in the feed to food supply chain, and these series of investments in Punjab further reiterate our continued commitment to India and help to make Punjab our Dairy Hub in India.”
Commenting on the launch, Shri Sukhbir Singh Badal, Deputy Chief Minister, Punjab, said, “We are delighted at Cargill India’s latest investment with this environment friendly plant, which will put Punjab on a global map with other leading model dairy regions the world over. This initiative will equip local farmers with the knowhow and help in implementing a reliable supply chain for dairy processing. We wish this project great success.”
CARGILL INDIA'S SWATI
SHUKLA: FIRST WOMAN SUGAR TRADER BELIEVES IN BEING PERSISTENT THAN GLAMOROUS
Lucknow-bred ?Swati Shukla looks at her career and business life from the time she joined Cargill India Pvt Ltd as a management trainee in 1994, began taking care of Cargill's Far East sugar business from Geneva in five years and then returned to India as a sugar trader.
Today she is on the board of Cargill India, and recognised as an authority in the world's biggest sugar consuming country. Shukla did her B. Tech in civil engineering from National Institute of Technology (NIT), Allahabad and followed it up by an MBA from Indian Institute of Foreign Trade (IIFT). But she explains her path to success saying it happened "by not being a guy in a man's world."
Persistence is what pays, not glamour, she says. "Fancy million-dollar deals over the phone happen only in the movies. To be a successful trader, you have to go out in the field, get your hands dirty, your basics right and respect each entity in the supply chain." She started in Cargill in the molasses export business in Tuticorin, Tamil Nadu and was the only woman in the team.
"Gender demarcation gets blurred when people realise that you are equally efficient. You just need to bring knowledge and sincerity to the table rather than try to be a man amongst men," said Shukla. But she did have her nervous moments. Cargill closed its molasses business in 1997.
"With the business shutting down, it was a matter of survival but the molasses team was absorbed in the sugar business. Working in molasses was a boon as it was away from the public glare. One quietly learnt the intricacies of the business, innovated and came up with great ideas to turn around a not so glamorous product," said Shukla.
EUREKA MOMENT
On invaluable lessons learnt, Shukla recalls when Cargill sent a group of trainees to its Tuticoren export junction. One day an amazing brain storming session was held to figure out how to get into exports without getting into the storage business. Back of their minds was the fact that port storage cannot be built overnight.
"So, we decided to have floating storage instead of fixed storage tanks. Cargill has huge bandwidth across the world so we got huge barges from our Singapore unit. Through a jetty, we filled the barges with molasses and then transferred it in the export vessel through a high-pressure pump. Hence, we had floating storage instead of a fixed storage and no competition with the storage and shipping companies at all," Shukla remembers.
Sugar was not a hot commodity as the market was lacklustre and there was no export. "With nothing much to do in the sugar business, I shifted to the financial arm of Cargill known as Trade and Structural Finance (TSF) for a year," she said.
Her talent was recognised and she was shifted to the headquarters in Geneva, where she spent two years, looking at sugar trading opportunities in Afghanistan, Bangladesh and the Middle East. The experience was transformational. "It was like a whole world of opportunities opened up. From something as micro as molasses to the whole Far East business at my disposal, growth was phenomenal."
RIGHT PLACE, RIGHT TIME
Shukla returned to India in 2001 when the country was just beginning to be a sugar trader's delight. In sugar season 1999-2000, India produced 182 lakh tonne of sugar and exported 0.66 lakh tonne.
CARGILL'S KARNATAKA
PLANT TO START PRODUCTION BY JUNE 2015
Diversified group Cargill India will start operating its USD
100 million mill in Karnataka by June next year, processing about 800 tonnes of
locally sourced corn per day, a top official of the company has said.
"We expect to start production from June next year. Construction of the
mill started recently," the company's Chairman Siraj Chaudhry told PTI
here today on the sidelines of a seminar at the Singapore Management
University.
The mill is based in the heart of corn growing areas of Karnataka.
"Output from the mill will largely be for local market, with about 10-15 per cent exports to the Middle East and Africa," said Chaudhry.
The mill would supply starch-based products to India's growing pharma, food and
confectionery industries, he said.
The mill is Cargill's single largest investment in India.
Chaudhry said Cargill has long history of serving the Indian market in various
trades including edible oils and foods.
The seminar was organised by the University’s India Initiatives and Indian
Institute of Foreign Trade Alumni Association, Singapore.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or anti-terrorism
sanction laws or whose assets were seized, blocked, frozen or ordered forfeited
for violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 60.88 |
|
|
1 |
Rs. 99.63 |
|
Euro |
1 |
Rs. 78.22 |
INFORMATION DETAILS
|
Information
Gathered by |
PRT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.