MIRA
INFORM REPORT
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Report No. : |
353948 |
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Report Date : |
10.12.2015 |
IDENTIFICATION DETAILS
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Name : |
THE PANCHMAHAL DISTRICT COOPERATIVE MILK PRODUCERS UNION LIMITED |
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Registered
Office : |
P.B. No.37, |
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Tel. No.: |
91-2672-261782 |
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Country : |
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Financials (as
on) : |
31.03.2015 |
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Year of
Establishment : |
1973 |
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Capital
Investment / Paid-up Capital : |
Not Available |
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IEC No.: |
Not Divulged |
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TIN No.: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
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PAN No.: [Permanent Account No.] |
Not Divulged |
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Legal Form : |
Co-Operative Society |
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Line of Business
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Subject is engaged into milk and milk production. |
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No. of Employees
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1000 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established Co-operative society having fine track. It is engaged in the business of milk production. It is having over
1800 Primary Village level Dairy Cooperative of Panchmahal and Dahod
districts, affiliated to it, with membership of over 250000 milk producer
members. The subject also has affiliation with AMUL. Further, the subject has achieved a sound turnover of Rs.11680.000
million during FY 2015. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The subject can be considered normal for business dealings at usual
trade terms and condition. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
Not Available
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
31-03-2015.
INFORMATION PARTED BY
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Name : |
Mr. Sanket Kachhiya |
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Designation : |
Account Manager |
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Contact No.: |
91-2672-261782 |
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Date : |
08.12.2015 |
LOCATIONS
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Registered Office/ Factory : |
P.B. No.37, Lunawada Road, Godhra – 389001, Gujarat, India |
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Tel. No.: |
91-2672-261782 |
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Fax No.: |
91-2672-260327 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Locality : |
Commercial |
MEMBERS
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Name : |
Mr. Jethabhai Bhardwad |
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Designation : |
Chairman |
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Name : |
Mr. S. L. Pathak |
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Designation : |
Managing Director |
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Name : |
Mr. Arjunsinh Chauhan |
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Designation : |
Board of Director |
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Name : |
Mr. Khumansinh Bariya |
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Designation : |
Board of Director |
KEY EXECUTIVES
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Name : |
Mr. Sanket Kachhiya |
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Designation : |
Account Manager |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged into milk and milk production. |
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Products : |
Milk |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
L/C, Cash, Advance Payment |
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Purchasing : |
L/C, Cash, Advance Payment |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Distributors
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No. of Employees : |
1000 (Approximately) |
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Bankers : |
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Auditors : |
[Appointed by Government] Special Auditor [Milk] |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Divulged |
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Borrowed : |
Not Divulged |
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Total : |
Not Divulged |
FINANCIAL DATA
[all figures are
in Rupees Million]
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Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
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Sales Turnover (Approximately) |
11680.000 |
8852.400 |
8082.600 |
Expected Sales (2015-2016): Rs.15000.000 Million
The above information has been parted by Mr. Sanket
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
YEAR-ON-YEAR GROWTH
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Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
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Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
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Sales |
8082.600 |
8852.400 |
11680.000 |
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9.524 |
31.942 |
LOCAL AGENCY FURTHER INFORMATION
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Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
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1 |
Year of establishment |
Yes |
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2 |
Constitution of the entity -Incorporation
details |
Yes |
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3 |
Locality of the entity |
Yes |
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4 |
Premises details |
No |
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5 |
Buyer visit details |
-- |
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6 |
Contact numbers |
Yes |
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7 |
Name of the person contacted |
Yes |
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8 |
Designation of contact person |
Yes |
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9 |
Promoter’s background |
No |
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10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
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11 |
Pan Card No. of Proprietor / Partners |
No |
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12 |
Voter Id Card No. of Proprietor / Partners |
No |
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13 |
Type of business |
Yes |
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14 |
Line of Business |
Yes |
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15 |
Export/import details (if applicable) |
No |
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16 |
No. of employees |
Yes |
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17 |
Details of sister concerns |
No |
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18 |
Major suppliers |
No |
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19 |
Major customers |
No |
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20 |
Banking Details |
Yes |
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21 |
Banking facility details |
No |
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22 |
Conduct of the banking account |
-- |
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23 |
Financials, if provided |
Yes |
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24 |
Capital in the business |
No |
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25 |
Last accounts filed at ROC, if applicable |
No |
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26 |
Turnover of firm for last three years |
Yes |
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27 |
Reasons for variation <> 20% |
-- |
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28 |
Estimation for coming financial year |
Yes |
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29 |
Profitability for last three years |
No |
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30 |
Major shareholders, if available |
No |
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31 |
External Agency Rating, if available |
No |
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32 |
Litigations that the firm/promoter
involved in |
-- |
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33 |
Market information |
-- |
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34 |
Payments terms |
Yes |
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35 |
Negative Reporting by Auditors in the
Annual Report |
No |
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THE PANCHMAHAL DISTRICT CO. OPERATIVE MILK PRODUCER’S UNION
LIMITED – GODHRA |
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Panchamrut at a Glance |
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Established in 1973 by Gujarat Dairy Development
Corporation Ltd. (GDDC). From 1983 Milk producers of the district has taken
over the charge. |
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From 1983 to 2006, the milk processing capacity was
expanded to 4 LLPD from 30 TLPD. |
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Union constitutes 1650 village Dairy Co-operative Societies
covering 208,0000 milk producers across the Panchmahal & Dahod district.
Collection of milk From Village Dairy Co-operative societies. |
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The Milk Union obtained ISO: 9001 & HACCP
certification from Quality Assurance Service, (QAS), Australia in 2000. |
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More than 30 programmes & activities to develop
employee, co-op societies & milkman. |
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First consignment of Amul Ghee exported to Dubai through
GCMMF in 1996. |
HISTORY
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The Co-operative Dairy Movement in India initiated with
the establishment of AMUL in 1946. Following that the co-operative district
milk unions in different districts took shape. During early 70’s, when the
co-operative leaders of erstwhile; Panchmahal District, thought to have a
district co-operative milk union at district head quarter Godhra, the
neighbouring districts of Sabarkantha, Kheda & Baroda had already the
existence of well-established co-op. dairy network. On proposal of district
leaders to have a separate milk co-operative union at Godhra; the initial
survey conducted by National Dairy Development Board; Anand revealed no
possibilities of establishment of an independent co-operative Milk Producers’
Union Ltd., at Godhra; due to very low productivity of native milch animals
and availability of insufficient quantity of surplus milk..But the leaders
were determined and committed for their goal to establish a milk union and
under the inspiration & guidance from late Shri Maneklal Gandhi, Late Shri
Ratilal Trivedi & Late Shri Dahyabhai Naik, in May,1973 The Panchmahal
Dist.Co-op. Milk Producers’ Union Ltd., got registered under Gujarat State
Co-op. Act. 1962. Initially, due to lack of milk processing facilities in
district, the milk procurement around 7000 kg per day from about 40 village
primary dairy co-op. societies was diverted to the neighbouring milk unions
of Sabarkantha, Kheda & Baroda. The then Chief Minister of Gujarat
Hon’ble late Shri Babubhai Jashbhai Patel laid the foundation stone for the
establishing Dairy building at Godhra; in presence of prominent co-operative
leaders of the district; including late Shri Maneklal Gandhi; in the year
1977.The milk chilling plant having capacity to chill 30,000 ltrs of milk per
day was established in 1978 with the financial help from Draught Prone Area
Project, Panchmahals. The Gujarat Dairy Development Corporation was asked to
manage the affairs of the Milk Union. The Co-operative leaders;
supported by Shri Bhikhabhai Rayajeebhai Patel, Late Shri Tapubhai Parmar and
Late Shri Padmashankar Pathak, to persuade the milk producers of various
villages for forming the co-operative milk producer societies. The
then Member of Lagislative Assembly from Godhra Shri Shantibhai Patel; and
Asst. District Registrar(Co-op.Societies) Panchmahals; Mr S.K. Pandya and
Shri Mahendrabhai Upadhyay; the then Executive Officer of District Co-op.
Union contributed a lot to instill the spirit of co-operation in the milk
producers which helped them to come together and unite to establish primary
milk producer societies in the district. The Milk Union was set to
move ahead and had its first election to elect the board during the same year
Late Shri Mangalbhai Haribhai Patel was elected the first Chairman of the
milk union. Mr S.R. Patel of Gujarat Dairy Development Corporation was
the first Chief Executive Officer of the organization. At Patelwada;
Godhra; a small office building was acquired on rent and from there; the
future plans for the development were plotted. At this stage; Mr
Bhupendrabhai Parekh, Late Shri Chandubhai Patel,Late Shri Rameshbhai M.
Patel and Shri Krishnakant Upadhyay’s contribution is noteworthy. Shri
Chaturbhai M. Patel Shri Manubhai C. Patel and their team put untiring
efforts to encourage more and more milk producers to join co-operatives.
Their contribution in organization and sustaining the milk co-operative
societies have been commendable. Mr. Bhikhabhai Rayjeebhai Patel of
Rabod took over as the next Chairman of the organization in 1977. Then; the
milk procurement was reached to 21000 kgs per day from 128 Dairy
Co-operatives. Till; March,1983; the Gujarat Dairy Development
Corporation; managed the activities of the milk union; which handed over the
total administration of the organization to the elected body of the
Panchmahal Dist. Co-operative Milk Producers’ Union Ltd., on 1st April,1983.
During the years 1980-1994; Mr Babubhai Khatubhai Patel; as one of the
youngest Chairman of the Co-operative Milk Unions in the country; helped the
organization to build an image of an outstanding and fast growing
organization. During this period only in 1982; the organization was brought
under NDDB’s ambitious Operation Flood II project. Mr Babubhai Patel
helped acquiring 10 acres of land from Govt. of Gujarat to establish a new
plant in 1992; the foundation stone of the new plant was laid by the then
Chief Minister of Gujarat Late Shri Chimanbhai Patel. The milk
processing capacity of the plant was increased from 30,000 to 60,000 kgs per
day in 1984; with the facilities of Ghee Packing Unit. In 1985; the
milk processing capacity was further expanded to 100000 kgs per day, with
commissioning of a powder plant having capacity of 10MT per day. Under
Operation Flood II Programme; the Technical Input activities in form of
Animal Health and Animal Breeding were initiated in 1982 under the guidence
of milk union officials Dr. H.Y. Kantharia, Dr. V.R. Jani and Dr. G.S. Reddy
of NDDB, Anand. Various milk production Enhancements Programmes were launched
with specific emphesis on extension activities to bring awareness about ideal
animal husbandry practices amongst the milk producer members. Mr
Ravindra Mathur; during his tenure from 1980 to 1998 as a Chief Executive
Officer of the organization; had provided technically competent; successful
and encouraging leadership; to the Panchamrut Team. Under his able
leadership; the milk union observed three expansions of milk processing
capacity at various stages; from 30,000 kgs per day to 200000 kgs per day
with the establishment of a chilling Centre at Chopada (Lunawada) in 1994.
With a view to increase the productivity of our milch animals; a Dairy
Herd Improvement Programme Actions (DIPA) –Field Progeny Testing Programme-
was launched in 1993; in collaboration with Sabar & Baroda Milk Unions
under the technical guidance of NDDB; which has proved very much useful – and
a plan for expanding same is being considered. The concept of Total
Quality Management(TQM) was adopted by the Organization in 1996 which brought
revolutionary changes in functioning of the organization. The organization
then was accredited as conforming to the ISO 9001:2000 and HACCP
International Standards; in the year 2000. Mr Bhupendrasinh Solanki
headed the organization between 1994 to 2009. Organization has registered a
considerable growth during his tenure. Dr R.S. Patel; observed
the responsibilities of Managing Director of the Organization between 1999 to
2010. The Organization observed lots of technological changes and expansion
of the milk processing capacity to 4 lakhs kgs per day; with commissioning of
State of art milk drying plant having the drying capacity of 15 MT per day.
The Cattle Feed Factory also was established during the year 2002. The Milk
Chilling Units at Limdi and Shivrajpur started functioning during this period
only. |
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Since
October 2010, Mr Jethabhai Bharvad (Ahir) and his team acquired the control
of the organization. Shri Jethabhai has been representing Shahera
constituency in the state assembly since 1993 and has been very popular as a
dynamic leader. Dr.V.R. Jani took over the charge of Managing Director of the
organization since June 2010. |
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Under new leadership, the organization has been
progressing ahead to achieve the new landmark. |
OBJECTIVES
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The Objectives of the Union are to carry out activities
for the economic development of the milk producers by or gaining effective
production, processing and marketing of milk & milk products. . |
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To achieve above objects the Union may |
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A |
01 |
Purchase, pool, process, manufacture. Distribute and sell
commodities from the members of the affiliated societies and private sources
without affecting the interest of the members. |
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Note: In case of the Union undertakes
production, processing and marketing of agricultural commodities other than
milk and milk products, it will obtain the prior permission of the Registrar. |
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02 |
Own or hold on lease or otherwise, movable or immovable
properties; |
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03 |
Purchase, process, manufacture, distribute and sell cattle
feed, dairy and food machinery, tools and instruments, dairy and food
packaging materials. |
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04 |
Encourage growing of fodder by the members of its
affiliated societies. |
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05 |
Give veterinary and artificial insemination services and
provide medicines and undertake cattle insurance work. |
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06 |
Own herd of cattle for breeding work. |
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07 |
Buy animals on behalf of members of the affiliated
societies. |
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08 |
Make arrangements for transport of commodities. |
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09 |
Organize new Co-operative Societies and develop affiliated
'societies to the utmost and impart Co-operative knowledge amongst members
and its application to business methods. |
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10 |
Render technical, financial, administrative and other
necessary assistance to other milk schemes. |
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11 |
Organize and encourage savings schemes. |
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12 |
Settle all matters of common interest of the affiliated societies
and to further these interests. |
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13 |
Carry on co-operative propaganda. |
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14 |
Generally to carry on such other activities as to push and
further the above objects and to do all such things as are incidental or conducive
to the attainment of the above mentioned objects. |
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B |
01 |
With a view to organize and co-ordinate the activities of
the primary societies affiliated to the Union, the Union shall advise, guide,
assist, rectify, control or take over their management partially or fully
when necessary and may appoint an administrator under section 81 of the Act. |
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02 |
Union may organize supervision of the affiliated societies
and for that purpose may fix supervision charges to collect with the
permission of the Registrar and collect. |
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C |
01 |
Establish a Research and Development Association having independent
existence, to contribute to its funds, and to raise funds for the same from
the members of the Union. |
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02 |
To create funds and trusts for the benefit of the
employees to support and to assist the same. The union shall approach the
Registrar for approval regarding the contribution by Union and employees and
to implements the same as per rules framed under the laws in force. |
AWARDS
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AWARD TITLE |
YEAR |
AWARDED BY |
|
Udyog Bharati Award |
2004 |
Indian Achievers Forum, New Delhi |
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Certificate of Excellence |
2003 |
Shri Jayant Patil
Hon’ble Minister for Finance& planning |
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Export Inspection Council of India |
2002 |
Ministry of Commerce & Industry Govt. of India |
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Bharat Jyoti Award |
--- |
Outstanding Services
Achievements & Contributions |
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Bhartiya Nirman Gaurav Award |
--- |
Business & Economic Society For Trade |
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Sarvshreshth Udyog Puraskar |
--- |
Business & Economic Society For Trade |
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Udyog Rattan Award |
--- |
The Institute of Economic Studies |
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National Productivity Council of India |
1997 |
Shri K. R. Narayanan
Honourable President of India |
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Excellence Award |
1996 |
The Institute of Economic Studies , New Delhi |
MILESTONES
|
Year |
Particulars. |
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1973 |
Registration of milk union under Gujarat Co-op. Act, 1962. |
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1975 |
Milk Union Administration was taken over by Gujarat Dairy Development
Corporation (GDDC). |
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1977 |
The
first election was held to elect the Board of Milk Union. |
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|
The Then Chief Minister of Gujarat Hon’ble Late Shri
Babubhai Jashbhai Patel laid foundation stone for establishing Dairy building
at Godhra, in august presence of the then Panchayat Minister of Gujarat
Hon’ble Late Shri Maneklal Gandhi. |
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1979 |
Milk Chilling Plant of 30,000 LPD capacity commissioned at
Godhra, by GDDC. |
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1982 |
Tech.
Input Services namely Animal Health & Artificial Insemination started
under OF-II. |
|
1983 |
The
Administration of District Co-op. Milk Union was handed over to the elected
Board, by GDDC. |
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1984 |
The
chilling plant capacity was expanded from 30,000 to 60,000 kg per day. Ghee
packing started. |
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1985 |
The
milk processing capacity of plant was expanded from 60,000 kg to 1,00,000 kg
per day. The Powder Plant having capacity of 10 MT per day was commissioned. |
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1993 |
Dairy
Herd Improvement Programme Actions (DIPA), a field progeny testing programme
launched in collaboration with Baroda & Sabar Milk Unions under the
technical guidance of NDDB. |
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1994 |
Milk
Union got registered under Milk & Milk Product order (MMPO), Govt. of
India. A Milk Chilling Plant at Chopada (Lunawada) commissioned to process
50,000 kg milk per day. Cluster Concept to increase coverage under Artificial
Insemination was adopted. |
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1995 |
Liquid
Milk Marketing in brands of Amul Gold & Amul Shakti started through
GCMMF. |
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1996 |
First
consignment of Amul Ghee exported to Dubai through GCMMF. |
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A Concept of Total Quality Management (TQM) adopted. |
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Milk Union got certification of Merit from National
Productivity Council of India, for productivity performance during the year
95-96. |
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Milk Union got certificate of Excellence by Institute of
Economic Studies (IES), New Delhi for excellence in productivity, Quality
Innovation & Management. |
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1997 |
Milk
Union received Udyog Ratna Award. |
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Milk Union started production of Table Butter under Amul
Brand. |
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Milk Union received National Productivity Award. |
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1998 |
The
then Chief Minister of Gujarat Hon’ble Keshubhai Patel laid foundation stone for
establishing Milk Chilling Centre at Limadi(Ta: Zalod). |
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The Milk Union started village Self Leadership Improvement
Programme known as Internal Consultant Development Programme through GCMMF. |
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Milk Union got Udyog Ratan Award. |
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1999 |
The
Commercial Production of ‘Panchamrut Goras’ initiated. |
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The Commercial Production of Amul Gulab Jamun Mix started. |
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2000 |
The
Milk Union obtained ISO: 9001 & HACCP certification from Quality
Assurance Service, (QAS), Australia. |
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2001 |
Limadi
Milk Chilling Centre having capacity to process 30,000 kg per day
commissioned. |
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2002 |
Initiation
of Shivrajpur Bulk Milk Chilling Unit, having the capacity of 1000 LPD. |
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2003 |
The
Milk Chilling Capacity of Chopada Chilling Centre was doubled from 50,000 kg
per day |
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2004 |
Panchmahal
Cattle Feed Factory having capacity of 100 MT per day, inaugurated by Hon’ble
Chief Minister of Gujarat Shri Narendrabhai Modi. |
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Milk Union got Udyog Bharati Award by India Achievers
Forum, New Delhi. |
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Milk
Union got Bhartiya Nirman Gaurav Award by Business & Economic Society for
reforms for Role in the process of Economic Reforms. |
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2005 |
The Milk Union started installing Bulk Milk Cooling Unit
at Village Dairy Co-operative. |
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Milk
Union got Recognition Certificate in linking tradition & technology for
Dairy Farmers by World Bank, Washington DC. |
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2006 |
The Milk processing capacity of the Milk Union’s Plant
expanded from 2,00,000 kg per day to 4,00,000 kg per day. |
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The commercial
production and distribution of bypass cattle feed started. |
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The production and distribution of Area Specific Mineral
Mixture started. |
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2007 |
Started
implementing Fertility Improvement Programme (FIP) under technical guidance
and financial support from GCCMMF Ltd;Anand. |
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Acquired
25 acres of land of Moti Sarsan village of santrampur taluka for establishing
Vegetable de-hydration plant for ginger,garlic and onon on co-operative
basis. |
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The production
and distribution of chelated mineral mixture. |
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2008 |
The milk union’s peak procurement crossed 5.5 lakh kgs of
mik per day. |
|
|
A
bulk cooling unit of 10000 liters capacity, commissioned at Pipero (Ta:
Dhanpur) |
|
|
Modified DIPA-a field progeny testing programme
implemented with the help of NDDB. |
|
2009 |
Modified
DIPA-a field progeny testing programme implemented with the help of NDDB. |
FUTURE PLANS
|
|
A separate milk packaging section (with cold rooms) having
a capacity of pasteurizing 3 lakh liters of milk per day will be constructed. |
|
|
Setting bulk milk coolers at more 45 cooperative
societies. |
|
|
Enhancing the production capacity of cattle feed factory. |
|
|
Construction
of more one hundred Dudh Chars. |
|
|
Helping the milk producers to set up about 200 dairy farms
with 25 to 30 cows/buffalos. |
|
|
Planning to market liquid milk in the city of Mumbai |
|
|
Planning for providing all the facilities required for clean
milk production to cooperative dairies and milk producers. |
|
|
Putting
in special efforts for increasing milk productivity by gearing up Fertility
Improvement Programme (FIP) and Field Progeny Testing Programme (DIPA) |
|
|
Implementation
of animal Productivity Enhancement Programme (PEP) at the cooperative
societies covered under Fertility Improvement Programme (FIP) with the help
of Gujarat Co- operative Milk Marketing Federation. |
|
|
Changing the present animal health service system for
improving the quality of veterinary health service connecting all the
veterinary centers through a computer network. |
|
|
Preparing special calf-starter for calves. |
|
|
Arranging for a new administrative section and a godowns
at the milk union. |
|
|
Constructing
a check dam near the cattle feed factory at Khandiya village of Shahera
taluka, under Sander Sahbhagi Jal Sanchay Scheme for managing water resources. |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON DESIGNATED
PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government official
or a family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.75 |
|
|
1 |
Rs.100.29 |
|
Euro |
1 |
Rs.72.89 |
INFORMATION DETAILS
|
Information Gathered
by : |
DIP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NKT |
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.