MIRA INFORM REPORT
|
Report No. : |
356554 |
|
Report Date : |
23.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
GODREJ AGROVET LIMITED |
|
|
|
|
Registered
Office : |
Godrej One, 3rd Floor, Pirojsha Nagar, Eastern Express
Highway, Vikhroli (East), Mumbai – 400079, Maharashtra |
|
Tel. No.: |
91-22-25188010 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
25.11.1991 |
|
|
|
|
Com. Reg. No.: |
11-135359 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.126.369
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15410MH1991PLC135359 |
|
|
|
|
IEC No.: |
0392027992 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMG08309A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACG0617Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Marketing of Animal Feed. (Confirmed by management) |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (72) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a part of the Godrej Group. The company is engaged in
agribusiness. It offers animal feed and nutrition products, including bovino
calf starter, moo magicmix, prepwell, summerkool and super star for dairy cattle,
poultry and aquaculture. The company also provided agricultural inputs such as pesticides,
plant growth regulators, soil conditioners such as vikas organic manure
mixture, nimin and dripzyme. For the financial year ended 2014, company has reported 13.65% revenue
growth as compared to previous year revenue and it has maintain satisfactory
profitability margin at 4.42% during the year under review. The ratings also take into account of company’s strong capital
structure, healthy coverage indicators and favorable working capital cycle. Despite its dominant position in the organized animal feed industry,
company’s cost structure and profitability remain susceptible to raw material
price fluctuations due to its exposure to a highly price sensitive consumer
segment. Trade relations are reported as fair. Payments are reported to be
regular and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. Note: Management of the company has not filed its financial with government
department for the year 2015 and same are not available from any source. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term, Fund based facilities=AA |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
August, 2015 |
|
Rating Agency Name |
ICRA |
|
Rating |
Commercial Paper Programme (A1+) |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
August, 2015 |
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 DENIED BY
Reception (91-22-25188010/ 020)
LOCATIONS
|
Registered Office/ Head Office : |
Godrej One, 3rd Floor, Pirojsha Nagar, Eastern Express
Highway, Vikhroli (East), Mumbai – 400079, Maharashtra, India |
|
Tel. No.: |
91-22-25188010/ 25188020/ 25188030/ 25194803/ 25194450/ 25194419 |
|
Fax No.: |
91-22-25188485 |
|
E-Mail : |
upendra.pathak@godrejagrovet.com gavigroupcompanies@godrejagrovet.com cn.nagesggwarab@gidrejinds.com |
|
Website : |
|
|
|
|
|
Factory/ Plant Biotech Division : |
148/B, Kandalkoi, Medchal, R.R. District – 501403, Andhra Pradesh,
India |
|
Tel. No.: |
91-40-23792091 |
|
Fax No.: |
91-40-23792092 |
|
|
|
|
Oil Palm Plantation Business : |
Ch Pothepalli, Dwarka, Thirumala Mandal, West Godawari Dist. Andhra Pradesh – 534451, India |
|
Tel. No.: |
91-8823-256690/ 80 |
|
Fax No.: |
91-8823-255080 |
|
|
|
|
Branches : |
Located at: ·
Ludhiana ·
Bangalore ·
Kolkata ·
Pune ·
Chandigarh ·
Secundrabad |
DIRECTORS
As on: 31.03.2015
|
Name : |
Mr. Nadir Burjorji Godrej |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
40-D, B. G. Kher Marg, Mumbai – 400 006, Maharashtra, India |
|
Date of Birth/Age : |
26.08.1951 |
|
Qualification : |
B.S. Chem. Engg. (MIT, USA), M.S. Chem. Engg. (Stanford, USA), MBA |
|
Date of Appointment : |
25.11.1991 |
|
DIN No.: |
00066195 |
|
Voter ID No.: |
MT/04/024/099721 |
|
|
|
|
Name : |
Mr. Balram Singh Yadav |
|
Designation : |
Managing Director |
|
Address : |
Bunglow No. G9/ 1, Godrej Hillside Colony, LBS Marg, Vikhroli (West),
Mumbai – 400 079, Maharashtra, India |
|
Date of Birth/Age : |
15.07.1964 |
|
Qualification : |
B.Sc. (Hons.) Agri. Sci., PGDM(A) (IIM - A) |
|
Date of Appointment : |
01.09.2012 |
|
DIN No.: |
00294803 |
|
|
|
|
Name : |
Adi Barjorji Godrej |
|
Designation : |
Director |
|
Address : |
Aashraye Godrej House, 67-H, Walkeshwar Road, Mumbai – 400 006,
Maharashtra, India |
|
Date of Birth/Age : |
03.04.1942 |
|
Qualification : |
B.S., M. S., Engg and Industrial Management, (MIT, USA) |
|
Date of Appointment : |
25.11.1991 |
|
DIN No.: |
00065964 |
|
Voter ID No.: |
MT/04/024/273279 |
|
|
|
|
Name : |
Mr. Jamshyd Naoroji Godrej |
|
Designation : |
Director |
|
Address : |
40-D, B.G. Kher Marg, Mumbai – 400 006, Maharashtra, India |
|
Date of Birth/Age : |
24.01.1949 |
|
Qualification : |
B.S., M. S., (Illinois Institute of Technology, USA) |
|
Date of Appointment : |
24.08.1992 |
|
DIN No.: |
00076250 |
|
Voter ID No.: |
MT/04/024/099982 |
|
|
|
|
Name : |
Mr. Vijay Mohan Crishna |
|
Designation : |
Director |
|
Address : |
A – 261 Grand Paradi Apartments, Dadyseth Hill, Off Augustkranti Marg,
Mumbai – 400 026, Maharashtra, India |
|
Date of Birth/Age : |
08.03.1945 |
|
Qualification : |
B.A. Economics (St. Stephens College University of Delhi) |
|
Date of Appointment : |
24.08.1992 |
|
DIN No.: |
00066267 |
|
Voter ID No.: |
MT/04/024/009615 |
|
|
|
|
Name : |
Mr. Kavas Noshirwan Petigara |
|
Designation : |
Director |
|
Address : |
801 Citadel, 18-B, Ruparel Marg, Malabar Hill, Mumbai – 400 006,
Maharashtra, India |
|
Date of Birth/Age : |
10.07.1948 |
|
Qualification : |
S.B., S.M, Chem. Engg, (MIT USA) |
|
Date of Appointment : |
24.08.1992 |
|
DIN No.: |
00066162 |
|
Voter ID No.: |
MT/04/024/108029 |
|
|
|
|
Name : |
Mrs. Tanya Arvind Dubash |
|
Designation : |
Director |
|
Address : |
Hasman Bunglow, 89B, Bhulabhai Desai Road, Mumbai – 400 026,
Maharashtra, India |
|
Date of Birth/Age : |
14.09.1968 |
|
Qualification : |
A.B. (Economics) |
|
Date of Appointment : |
10.04.2003 |
|
DIN No.: |
00026028 |
|
|
|
|
Name : |
Mr. Sudheer Laxman Anaokar |
|
Designation : |
Director |
|
Address : |
A-204 Centre Point, Panchpakhadi, Opposite Thane Municipal Corporation,
Thane – 400 602, Maharashtra, India |
|
Date of Birth/Age : |
04.01.1943 |
|
Qualification : |
M.V. Sc, Ph. D |
|
Date of Appointment : |
29.06.1998 |
|
DIN No.: |
00236819 |
|
Voter ID No.: |
MT/10/053/031225 |
|
|
|
|
Name : |
Mr. Amit Biren Choudhury |
|
Designation : |
Director |
|
Address : |
Golden Oak, CHS Flat 304, Wing C, Hiranadani Gardens, Powai, Mumbai -
400 076, Maharashtra, India |
|
Date of Birth/Age : |
26.12.1942 |
|
Qualification : |
M.A. , M.M.S |
|
Date of Appointment : |
25.06.2014 |
|
DIN No.: |
00557547 |
|
Voter ID No.: |
MT/07/049/1291586 |
|
|
|
|
Name : |
Ms. Nisaba Adi Godrej |
|
Designation : |
Director |
|
Address : |
Aashraye Godrej House, 67 H Walkeshwar Road, Mumbai – 400 006, Maharashtra,
India |
|
Date of Birth/Age : |
12.02.1978 |
|
Qualification : |
MBA (Harvard Business School), BSSc Economics (Wharton) |
|
Date of Appointment : |
25.06.2007 |
|
DIN No.: |
00591503 |
|
|
|
|
Name : |
Mr. Rohit Sipahimalani |
|
Designation : |
Director |
|
Address : |
House 22, Second Avenue, Singapore 266673 |
|
Date of Birth/Age : |
03.10.1966 |
|
Date of Appointment : |
17.06.2013 |
|
DIN No.: |
00904065 |
KEY EXECUTIVES
|
Name : |
Mr. Vivek Raizada |
|
Designation : |
Secretary |
|
Address : |
D/501, Bharat Apartment, Marve Road, Malad (West), Mumbai, 400064, Maharashtra, India |
|
Date of Appointment : |
13.10.2014 |
|
PAN No.: |
ADLPR8038H |
|
|
|
|
Name : |
Ms. Shevanthi |
|
Designation : |
Accounts Executive |
|
|
|
|
Name : |
Mr. Varadaraj Subramanian |
|
Designation : |
Chief Finance Executive |
|
Address : |
B - 803, Savoy, Raheja Garden,, L.B.S. Marg,, Thane, 400604, Maharashtra, India |
|
Date of Appointment : |
14.05.2014 |
|
PAN No.: |
ABUPV1974H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.06.2014
|
Names of Shareholders |
No. of Shares |
|
Adi Barjorji Godrej |
364 |
|
Nadir Barjorji Godrej |
296154 |
|
Godrej Industries Limited, India |
8040921 |
|
Rishad K. Naoroji |
296154 |
|
Pirojsha Adi Godrej |
98718 |
|
Navroze J. Godrej |
148077 |
|
Jamshyd Naoroji Godrej |
148077 |
|
Nyrika Vijay Crishna |
148077 |
|
Godrej Industries Limited, India jointly with Balram Singh Yadav,
India |
1 |
|
Godrej Industries Limited, India jointly with Pitambar Narayan
Narkhede, India |
1 |
|
Tanya Arvind Dubash |
98718 |
|
Godrej Nisaba |
98718 |
|
Freyan Vijay Crishna |
148077 |
|
Godrej and Boyce Manufacturing Company Limited, India |
379000 |
|
Godrej Industries Limited, India jointly with Subramanian Varadaraj |
1 |
|
Godrej Industries Limited, India jointly with Prafulla Janardan Bhat |
1 |
|
Godrej Industries Limited, India jointly with Govindan Ramakrishna
Rishinaradamangalam |
1 |
|
Godrej Agrovet Limited, Employee Stock Option Trust, India |
586764 |
|
V – Sciences Investments PTE Limited |
2643407 |
|
Balram Singh Yadav |
92403 |
|
|
|
|
Total |
13223634 |
Equity Share Break up (Percentage of Total Equity)
AS ON 25.06.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
19.99 |
|
Bodies corporate |
63.67 |
|
Directors or relatives of Directors |
9.66 |
|
Other top fifty shareholders |
6.68 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Marketing of Animal Feed. (Confirmed by
management) |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Divulged |
||||
|
|
|
||||
|
Agencies Held : |
Not Divulged |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||
|
|
|
||||||||||||||
|
Customers : |
|
||||||||||||||
|
|
|
||||||||||||||
|
No. of Employees : |
Information declined by the management |
||||||||||||||
|
|
|
||||||||||||||
|
Bankers : |
·
State Bank of India, Corporate Accounts
Group-Central, 3rd Floor, State Bank Bhavan, Madame Cama Road,
Mumbai – 400001, Maharashtra, India ·
Axis Bank Limited Esquire Centre, No.9, M.G.
Road, Bangalore – 560001, Karnataka, India · Union Bank of India, Mahajan Mills Compound, Mumbai-400079, Maharashtra, India |
|
|
|
|
Financial Institution : |
3i Infotech Trusteeship
Services Limited, 3rd to 6th Floor, International
Infotech Park, Tower No.5, Vashi Railway Station Complex, Vashi, Navi Mumbai
– 400703, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Kalyaniwalla and Mistry Chartered Accountants |
|
Address : |
Kalpataru Heritage, 127, Mahatma Gandhi Road, Mumbai – 400 001,
Maharashtra, India |
|
PAN No.: |
AAAFK7554R |
|
|
|
|
Holding company : |
Godrej Industries Limited |
|
|
|
|
Ultimate Holding company : |
Godrej and Boyce Manufacturing Company Limited |
|
|
|
|
Subsidiary company : |
·
Golden Feed Products Limited ·
Goldmohur Agrochem and Feeds Limited ·
Godrej Infotech Limited ·
Godrej Consumer Products Limited ·
Natures Basket Limited ·
Godrej Properties Limited ·
Hershey India Private Limited ·
Godrej Seeds and Genetics Limited ·
Godvet Agrochem Limited |
|
|
|
|
Joint venture : |
·
ACI Godrej Agrovet Private Limited ·
Godrej Tyson Foods Limited |
|
|
|
|
Associate : |
·
Creamline Dairy Products Limited ·
Polchem Hygiene Laboratories Private Limited ·
Al Rahaba Trading International LLC |
|
|
|
|
Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives : |
Bahar Agrochem and Feeds Limited |
|
|
|
|
Fellow Subsidiary company: |
Godrej International Limited |
|
|
|
|
Others : |
·
Crop Science Advisors LLP ·
Godrej Hersheys Limited |
CAPITAL STRUCTURE
After as on: 25.06.2014
Authorised Capital : Rs. 1000.000 million
Issued, Subscribed & Paid-up Capital : Rs. 925.654 million
AS ON 25.06.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50150000 |
Equity Shares |
Rs.10/- each |
Rs.501.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13223634 |
Equity Shares |
Rs.10/- each |
Rs.132.236 Million |
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50150000 |
Equity Shares |
Rs.10/- each |
Rs.501.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13223634 |
Equity Shares |
Rs.10/- each |
Rs.132.236
Million |
|
|
Less : Amount recoverable from the Company s ESOP Trust |
|
Rs.5.867 Million
|
|
|
Total
|
|
Rs.126.369 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
126.369 |
126.369 |
121.188 |
|
(b) Reserves & Surplus |
4334.831 |
3736.962 |
2018.199 |
|
(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) |
4461.200 |
3863.331 |
2139.387 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1642.441 |
1046.403 |
46.674 |
|
(b) Deferred tax liabilities (Net) |
459.852 |
355.692 |
206.321 |
|
(c) Other long term
liabilities |
11.149 |
0.000 |
6.003 |
|
(d) long-term
provisions |
15.983 |
15.711 |
18.367 |
|
Total Non-current
Liabilities (3) |
2129.425 |
1417.806 |
277.365 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
39.126 |
350.000 |
1402.153 |
|
(b) Trade payables |
6712.955 |
5093.424 |
4352.883 |
|
(c) Other current
liabilities |
1380.846 |
1010.756 |
1016.981 |
|
(d) Short-term
provisions |
430.840 |
296.791 |
5.575 |
|
Total Current
Liabilities (4) |
8563.767 |
6750.971 |
6777.592 |
|
|
|
|
|
|
TOTAL |
15154.392 |
12032.108 |
9194.344 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4221.306 |
2811.048 |
1573.767 |
|
(ii) Intangible Assets |
259.468 |
317.566 |
349.915 |
|
(iii) Capital
work-in-progress |
1471.571 |
1245.831 |
1094.489 |
|
(iv)
Intangible assets under development |
0.726 |
0.000 |
7.362 |
|
(b) Non-current Investments |
1044.253 |
1323.900 |
1275.265 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
364.514 |
517.995 |
434.957 |
|
(e) Other
Non-current assets |
17.361 |
16.298 |
21.089 |
|
Total Non-Current
Assets |
7379.199 |
6232.638 |
4756.844 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3234.532 |
2750.012 |
1936.266 |
|
(c) Trade receivables |
2191.712 |
1741.854 |
1207.474 |
|
(d) Cash and cash
equivalents |
1134.787 |
213.712 |
181.568 |
|
(e) Short-term loans
and advances |
1106.776 |
1054.089 |
991.782 |
|
(f) Other current
assets |
107.386 |
39.803 |
120.410 |
|
Total Current Assets |
7775.193 |
5799.470 |
4437.500 |
|
|
|
|
|
|
TOTAL |
15154.392 |
12032.108 |
9194.344 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
32400.007 |
28525.973 |
21965.846 |
|
|
|
Other Income |
166.561 |
128.924 |
220.235 |
|
|
|
TOTAL (A) |
32566.568 |
28654.897 |
22186.081 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
23478.804 |
21658.899 |
16684.580 |
|
|
|
Purchases of stock-in-trade |
2069.388 |
1189.657 |
666.727 |
|
|
|
Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
(246.402) |
(162.075) |
(178.173) |
|
|
|
Employee benefit expense |
1191.046 |
1019.900 |
967.748 |
|
|
|
Other expenses |
3762.479 |
3120.918 |
2652.586 |
|
|
|
TOTAL (B) |
30255.315 |
26827.299 |
20793.468 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2311.253 |
1827.598 |
1392.613 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
78.577 |
231.171 |
198.289 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2232.676 |
1596.427 |
1194.324 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
260.644 |
187.139 |
134.359 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1972.032 |
1409.288 |
1059.965 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
533.371 |
407.699 |
251.880 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1438.661 |
1001.589 |
808.085 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
93.403 |
69.677 |
28.598 |
|
|
TOTAL EARNINGS |
93.403 |
69.677 |
28.598 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
585.694 |
574.000 |
455.599 |
|
|
|
Components and Spares Parts |
5.999 |
27.917 |
15.871 |
|
|
|
Capital Goods |
492.952 |
74.540 |
52.030 |
|
|
TOTAL IMPORTS |
1084.645 |
676.457 |
523.500 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
113.85 |
81.71 |
66.68 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
2.705 |
0.271 |
0.000 |
|
Net cash flows from (used in) operations |
3264.380 |
1282.602 |
NA |
|
Net cash flows from (used in) operating activities |
2843.200 |
951.950 |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
4.42 |
3.50 |
3.64 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
6.09 |
4.94 |
4.83 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.60 |
14.89 |
15.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.44 |
0.36 |
0.50 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.38
|
0.36 |
0.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.91 |
0.86 |
0.65 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
121.188 |
126.369 |
126.369 |
|
Reserves & Surplus |
2018.199 |
3736.962 |
4334.831 |
|
Net worth |
2139.387 |
3863.331 |
4461.200 |
|
|
|
|
|
|
long-term borrowings |
46.674 |
1046.403 |
1642.441 |
|
Short term borrowings |
1402.153 |
350.000 |
39.126 |
|
Current maturities of
long-term debts |
0.000 |
0.271 |
2.705 |
|
Total borrowings |
1448.827 |
1396.674 |
1684.272 |
|
Debt/Equity ratio |
0.677 |
0.362 |
0.378 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Sales |
21,965.846 |
28,525.973 |
32,400.007 |
|
|
|
29.865 |
13.581 |
NET PROFIT MARGIN
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Sales
|
21,965.846 |
28,525.973 |
32,400.007 |
|
Profit |
808.085 |
1,001.589 |
1,438.661 |
|
|
3.68% |
3.51% |
4.44% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION
DETAILS:
|
Bench:- Bombay |
|||||||
|
Stamp No:- |
NL/1238/2012 |
Failing Date:- |
14.08.2012 |
Reg. No.:- |
N/1238/2012 |
Reg. Date:- |
14.08.2012 |
|
MAIN MATTER LODGING NO.:
EXAL/649/2012
REG No.: EXA/961/2012 |
|||||||
|
Petitioner:- |
DALMIA EXTRAXTION LIMITED |
Respondent:- |
M/S GODREJ AGROVET LIMITED - |
||||
|
Petn. Adv.:- |
LALIT V. JIAN |
Resp. Adv.:- |
----- |
||||
|
District:- |
MUMBAI |
||||||
|
Bench:- |
SINGLE |
Category:- |
-- |
||||
|
Status:- |
Pre-Admission |
Stage:- |
FOR HEARING AND FINAL DISPOSAL (ORIGINAL SIDE AND MATTERS) |
||||
|
Last Date:- |
22.01.2015 |
||||||
|
Last Coram:- |
HON’BLE SMT. JUSTICE R.S. DALVI |
||||||
|
Act:- |
ADVOCATES ACT 1961 |
Under Section:- |
260A |
||||
REVIEW OF OPERATIONS
Revenue of the Company grew by 14% and profit before taxation grew by 40% as compared to last year. A good monsoon and strong performance of all the businesses helped deliver excellent results.
JOINT VENTURE (JV)
OPERATIONS
Performance of the Company’s joint ventures, Godrej Tyson Foods Limited (GTFL) and ACI Godrej Agrovet Private Limited, Bangladesh (ACI Godrej) improved significantly during the year. ACI Godrej achieved a turnaround despite volatile external environment on account of political uncertainty through premium pricing and innovative logistics solutions. GTFL also registered an excellent performance with a growth of 23% in total income and 195% in profit before tax over previous year on account of lower feed costs and control over fixed costs.
GENERAL INFORMATION
ABOUT COMPANY
The company is a public limited company, which is domiciled and incorporated in the Republic of India. The Company, an erstwhile division of Godrej Soaps limited was incorporated under the Companies Act, 1956 on November 25, 1991. The Company is a diversified agribusiness company and its principal activities include manufacturing and marketing of high quality animal feed, innovative agricultural inputs and palm oil and allied products.
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Long Term Borrowings |
|
|
|
Term loans from
banks |
1600.000 |
1000.000 |
|
Deferred payment
liabilities |
42.441 |
46.403 |
|
|
|
|
|
Short Term Borrowings |
|
|
|
Working capital
loans from banks |
39.126 |
0.000 |
|
Term loans from
banks |
0.000 |
350.000 |
|
|
|
|
|
Total |
1681.567 |
1396.403 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
80026160 |
28/06/2010
* |
800,000,000.00 |
CENTRAL
BANK OF INDIA |
CORPORATE
FINANCE BRANCH,1ST FLOOR, MMO BUILDING, M.G. ROAD,FORT, MUMBAI, MAHARASHTRA -
400023, INDIA |
A89949606 |
*Date of modification Charges
FIXED ASSETS:
· Freehold Land
· Leasehold Land
· Building
· Staff Quarter
· Plant and Machinery
· Furniture and Fixture
· Leasehold Improvement
· Office and other Equipments
· Vehicles
·
Research Center
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.66.30 |
|
|
1 |
Rs.98.71 |
|
Euro |
1 |
Rs.72.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVD |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
72 |
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.