MIRA INFORM REPORT
|
Report No. : |
355978 |
|
Report Date : |
29.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
SAHAYOG CLEAN MILK PRIVATE LIMITED (w.e.f 10.04.2013) |
|
|
|
|
Formerly Known
As : |
HARVEST GREEN FUELS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
E-7/88, Lala Lajpat Rai Society, Arera Colony, Bhopal-462016, Madhya
Pradesh |
|
Tel. No.: |
91-755-4246330/ 4279828/ 4259062 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
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|
|
|
Date of
Incorporation : |
01.12.2009 |
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|
|
|
Com. Reg. No.: |
10-022749 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 49.700 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15209MP2009PTC022749 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
BPLS14830E |
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|
|
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PAN No.: [Permanent Account No.] |
AATCS0110P |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in collection and processing of buffalo and cow milk and Selling of Milk and also Manufacturing value added milk products (VAP) such as ghee, flavoured milk, butter, paneer and curd. (Registered Activity) |
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|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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Comments : |
Subject company was originally incorporated in the year 2009 and it is
a part of “Sahayog Group’’ the company
has started selling packaged milk under its own brand ‘Pure One’ and is also
undertaking capex for manufacturing value added milk products (VAP) such as
ghee, flavoured milk, butter, paneer and curd. The rating to Sahayog Clean Milk Private Limited is constrained on its
debt-funded capex for enhancement in milk and milk products processing
facilities, its working capital intensive operations and loss from operations
in FY-15. The rating is also constrained on account of inherent seasonality
and milk supply risks in the dairy business. The rating however draws strength from synergies the company draws from
its group companies and financial support by its promoters through infusion
of equity. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be slow but correct. The company can be considered for small to medium business dealings
with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities=BB |
|
Rating Explanation |
Inadequate-credit-quality and high credit
risk |
|
Date |
December, 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 DECLINED BY
|
Name : |
Mr. Achal Gupta |
|
Designation : |
Project Coordinator |
|
Contact No.: |
91-8959901912 |
|
Date : |
23.12.2015 |
|
|
|
|
Name : |
Mr. Shanandra |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-755-4246330/ 4279828 |
|
Date : |
23.12.2015 |
LOCATIONS
|
Registered Office : |
E-7/88, Lala Lajpat Rai Society, Arera Colony, Bhopal-462016, Madhya
Pradesh, India |
|
Tel. No.: |
91-755-4246330/ 4279828/ 4259062 |
|
Fax No.: |
Not Available |
|
E-Mail : |
company.secretary@sahayogmicro.com
|
|
Website : |
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|
|
|
|
Regional Office : |
Badar Vihar Colony, Near Hotel Mansarovar,
Handa-Handiya Road, District Harda - 461331, Madhya Pradesh, India |
|
|
|
|
Milk Chilling Plants 1 : |
Village Masangaon, Khandwa Road, Harda District, Madhya Pradesh, India |
|
|
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Milk Chilling Plants 2 : |
NH 59, Tehsil Khategaon, Village Sandalpur-455339, District Dewas, Madhya Pardesh, India |
DIRECTORS
AS ON 28.07.2014
|
Name : |
Mr. Anand Patidar |
|
Designation : |
Managing director |
|
Address : |
E-6, Lig/B-74,11 No. Bus Stop, Arera Colony,
Bhopal-462016, Madhya Pradesh, India |
|
Date of Birth/Age : |
28.08.1978 |
|
Date of Appointment : |
19.06.2013 |
|
DIN No.: |
02586213 |
|
|
|
|
Name : |
Mr. Jitendra Prasad Tiwari |
|
Designation : |
Director |
|
Address : |
43/2 Paras Homes, Narayan Nagar, Bhopal-462024, Madhya
Pradesh, India |
|
Date of Birth/Age : |
28.06.1964 |
|
Date of Appointment : |
19.06.2013 |
|
DIN No.: |
01451307 |
|
|
|
|
Name : |
Mr. Amul Urdhwareshe Digamber |
|
Designation : |
Director |
|
Address : |
F-10, Fortune Pride, Trilanga Society, Bhopal, 462039,
Madhya Pradesh, India |
|
Date of Birth/Age : |
18.05.1960 |
|
Date of Appointment : |
01.12.2009 |
|
DIN No.: |
01549023 |
|
|
|
|
Name : |
Mr. Khushilal Patidar |
|
Designation : |
Director |
|
Address : |
E-6, Lb-74,Arera Colony,, Bhopal, 462016, Madhya Pradesh,
India |
|
Date of Birth/Age : |
10.08.1954 |
|
Date of Appointment : |
15.05.2013 |
|
DIN No.: |
02720839 |
|
|
|
|
Name : |
Mr. Prakash Rangrao Patil |
|
Designation : |
Director |
|
Address : |
Bar No. 3, C.S. 249/A/1/89, Indraprast, N.Park, Kolhapur-416005,
Maharashtra, India |
|
Date of Birth/Age : |
01.06.1951 |
|
Date of Appointment : |
11.07.2013 |
|
DIN No.: |
06646847 |
KEY EXECUTIVES
|
Name : |
Mr. Achal Gupta |
|
Designation : |
Project Co-Ordinator |
|
|
|
|
Name : |
Mr. Shanandra |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Names of Shareholders |
|
No. of Shares |
|
Amul
Urdhwareshe |
|
212000 |
|
Aseem
Singhal |
|
212500 |
|
Prashant
Patidar |
|
69000 |
|
Khushilal
Patidar |
|
19000 |
|
Anand
Patidar |
|
50500 |
|
Avinash
Tiwari |
|
201250 |
|
BDP
Holdings Private Limited, India |
|
681750 |
|
Charu
Patidar |
|
13100 |
|
Cypress
Consultant Private Limited, India |
|
102000 |
|
Jitendra
Prasad Tiwari |
|
178000 |
|
Khanhaiya
Lal Patidar |
|
16500 |
|
Kasturi
Megaventures Private Limited, India |
|
715750 |
|
Kiran
Tiwari |
|
12500 |
|
Mayank
Patidar |
|
16500 |
|
Naresh
Patidar |
|
16500 |
|
Pragya
Patidar |
|
26000 |
|
Parnil
Urdhwareshe |
|
13000 |
|
Synergy
Megaventure Private Limited, India |
|
568650 |
|
Yogesh
Patidar |
|
525725 |
|
Dr.
YSP Thorat |
|
212500 |
|
Gem
Management |
|
353750 |
|
JPT
Enterprises |
|
357000 |
|
Vivek
Jindal |
|
159775 |
|
Rachna
Jindal |
|
100000 |
|
Rahool
Jindal |
|
50000 |
|
Shubha
Jindal |
|
40000 |
|
Vivek
Jindal HUF |
|
46750 |
|
Total |
|
4970000 |
AS ON 13.07.2015
|
Names of Allottees |
|
No. of Shares |
|
BDP Holdings Private Limited, India |
|
249710 |
|
Kasturi Megaventures Private Limited, India |
|
252210 |
|
Total |
|
501920 |
AS ON 20.07.2015
|
Names of Allottees |
|
No. of Shares |
|
Acumen Fund, INC, USA |
|
10 |
|
Total |
|
10 |
AS ON 28.07.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
89.97 |
|
Other
top fifty shareholders |
10.03 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in collection and processing of buffalo and cow milk and Selling of Milk and also Manufacturing value added milk products (VAP) such as ghee, flavoured milk, butter, paneer and curd. (Registered Activity) |
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Products : |
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Brand Names : |
‘PURE ONE’ |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
· Kotak Mahindra Bank Limited 5th Floor Metro Tower, Vijay Cross Road A.B. Road, Near Mangal City, Indore-452010, Madhya Pradesh, India |
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Facilities : |
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|
Banking
Relations : |
-- |
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|
Auditors : |
|
|
Name : |
Desai Saksena and Associates Chartered Accountants |
|
Address : |
1st Floor, Laxmi Building, Sir P.M. Road, Fort, Mumbai-400001,
Maharashtra, India |
|
Tel. No.: |
91-66261600 |
|
Fax No.: |
91-66261617 |
|
E-Mail : |
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|
Income-tax
PAN of auditor or auditor's firm : |
AABFD6281B |
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Memberships : |
-- |
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|
Collaborators : |
-- |
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|
Other Related Parties : |
·
BDP Holdings Private Limited ·
JPT Enterprises Private Limited ·
Synergy Megaventures Private Limited ·
Kasturi Megaventures Private Limited ·
Lifespan Biotech Private Limited ·
GEM Management Services (I) Private Limited |
|
|
|
|
Associate Companies : |
·
Sahayog Microfinance Limited ·
Sahayog Micromanagement |
CAPITAL STRUCTURE
AFTER 31.03.2015
Authorised Capital : Rs. 81.200 Million
Issued, Subscribed & Paid-up Capital : 66.322 Million
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,970,000 |
Equity Shares |
Rs. 10/- each |
Rs. 49.700
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
49.700 |
49.700 |
0.100 |
|
(b) Reserves & Surplus |
4.444 |
21.168 |
0.000 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
31.848 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
85.992 |
70.868 |
0.100 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
77.570 |
47.071 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.704 |
0.742 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
78.274 |
47.813 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
107.420 |
0.000 |
0.000 |
|
(b)
Trade payables |
23.507 |
26.436 |
0.000 |
|
(c)
Other current liabilities |
57.629 |
17.273 |
0.008 |
|
(d)
Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
188.556 |
43.709 |
0.008 |
|
|
|
|
|
|
TOTAL |
352.822 |
162.390 |
0.108 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
77.775 |
61.136 |
0.000 |
|
(ii)
Intangible Assets |
1.558 |
0.931 |
0.000 |
|
(iii)
Capital work-in-progress |
0.123 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
147.841 |
20.359 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
51.014 |
41.091 |
0.000 |
|
(e)
Other Non-current assets |
0.950 |
0.427 |
0.029 |
|
Total
Non-Current Assets |
279.261 |
123.944 |
0.029 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2.350 |
2.921 |
0.000 |
|
(c)
Trade receivables |
39.073 |
20.921 |
0.000 |
|
(d)
Cash and cash equivalents |
28.666 |
13.742 |
0.079 |
|
(e)
Short-term loans and advances |
3.472 |
0.837 |
0.000 |
|
(f)
Other current assets |
0.000 |
0.025 |
0.000 |
|
Total
Current Assets |
73.561 |
38.446 |
0.079 |
|
|
|
|
|
|
TOTAL |
352.822 |
162.390 |
0.108 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
594.795 |
217.166 |
|
|
|
Other Income |
|
3.668 |
0.342 |
|
|
|
TOTAL (A) |
|
598.463 |
217.508 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
492.998 |
183.032 |
|
|
|
Purchases of Stock-in-Trade |
|
0.850 |
4.179 |
|
|
|
Direct Expenses |
|
49.621 |
18.091 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
|
0.525 |
(2.765) |
|
|
|
Employees benefits expense |
|
20.473 |
2.354 |
|
|
|
Administrative and Other expenses |
|
27.547 |
6.512 |
|
|
|
TOTAL (B) |
|
592.014 |
211.403 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
|
6.449 |
6.105 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
12.243 |
1.668 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION (C-D) (E) |
|
(5.794) |
4.437 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
10.968 |
3.684 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
|
(16.762) |
0.753 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
(0.038) |
0.885 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
|
(16.724) |
(0.132) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
|
(3.37) |
(0.11) |
|
|
|
Diluted |
|
(3.37) |
(0.11) |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term Borrowings |
NA |
6.967 |
0.000 |
|
|
|
|
|
|
Cash Generated from Operations |
(14.758) |
(17.455) |
NA |
|
|
|
|
|
|
Net Cash Flow from Operating Activities |
(15.277) |
(17.455) |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(2.81) |
(0.06) |
NA |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
1.08 |
2.81 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(8.18) |
0.53 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.19) |
0.01 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.15 |
0.76 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.39 |
0.88 |
9.88 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
0.100 |
49.700 |
49.700 |
|
Reserves & Surplus |
0.000 |
21.168 |
4.444 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
31.848 |
|
Net
worth |
0.100 |
70.868 |
85.992 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
47.071 |
77.570 |
|
Short term borrowings |
0.000 |
0.000 |
107.420 |
|
Total
borrowings |
0.000 |
54.038 |
184.990 |
|
Debt/Equity
ratio |
0.000 |
0.763 |
2.151 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
217.166 |
594.795 |
|
|
|
173.890 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
217.166 |
594.795 |
|
Profit |
(0.132) |
(16.724) |
|
|
(0.06%) |
(2.81%) |
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 |
Yes |
|
8 |
Designation of contact person |
Yes |
|
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 |
Yes |
|
26 |
Turnover of firm for last two years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last two years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10554971 |
28/02/2015 |
50,000,000.00 |
AXIS BANK LIMITED |
E-5 ,"STAR
PLAZA", 1ST FLOOR,PLOT NO. 6,, BITTAN |
C46611976 |
|
2 |
10550753 |
23/02/2015 * |
95,000,000.00 |
RBL BANK LIMITED |
SHAHUPURI,KOLHAPUR,, KOLHAPUR- 416001, MAHARASHTRA, INDIA |
C45173846 |
|
3 |
10566361 |
05/02/2015 |
5,552,640.00 |
KOTAK MAHINDRA BANK LIMITED |
5TH FLOOR METRO
TOWER, VIJAY CROSS ROAD A.B. ROAD, |
C52142023 |
|
4 |
10460255 |
31/10/2013 |
490,000.00 |
CANARA BANK |
GULMOHAR BRANCH, GULMOHAR
COLONY, BASANT KUNJ, BH |
B89503064 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2015 (Rs.
In Million) |
31.03.2014 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
From others |
13.125 |
0.000 |
|
|
|
|
|
Total |
13.125 |
0.000 |
BUSINESS OVERVIEW:
Subject is a company engaged in collection and processing of buffalo and
cow milk mainly from small and marginal farmers in order to help them reach a fair,
transparent and reliable market. SCMPL works in tanden with its section 25
associates company, Sahayog Micromanagement, to educate and train such farmers
to understand and carry out scientific, manageable cattle rearing and diary
practices to make it long term sustainable and profitable for them so that
these farmer families can have a year round, regular and predictable revenue as
against erratic and afr placed earnings from typical agriculture. SCMPL also
works with associate company Sahayog Microfinance Limited to link the farmers
to various financial products.
STATE OF COMPANY’S
OPERATIONS DURING THE YEAR
The Total Milk collected by the company during the year from 1st
April 2014 to 31st March 2015 is 14.300 Million Liters. They reached
a maximum collection of 56,000 liters on 9th February 2015. Chilled
milk is dispatched to various buyer in Bhopal, Dewas, Nagpur and Hyderabad and
Chennai (Through Nagpur collection center of Creamline dairy).
The Company has supplied milk to aver 30 bulk milk purchasers which
includes reputed clients like Streling Agro, Haldirams, Bhole Baba, Cream line.
The company currently has 290 milk collection points called primary Milk
Collection Centers (PMC) Which cover more than 300 villages in the districts of
Harda, Dewas, Hoshangabad, Khandwa and Sehore. Everyday around 11,000 farmers
come to these PMCs to pour milk.
With association of Sahayog Micromangement they have done 20000+
Artificial Insemination services in these districts in last one year which is helping
to improve the breed quality of the area. No of trained farmers are around
30000+.
New Milk Chilling and Processing plant at Sandalpur, Dewas has
operational facilities of processing and packing of milk. Pasteurized pouch
milk production recently started from the new processing plant. The Company has
sold packaged milk under the brand “’Pure-1’’ in five variants. Over 8000
liters per day of Pasteurized pouch milk is being sold in the upcountry markets
surrounding the Sandalpur Plant.
FUTURE OUTLOOK:
SCMPL would start construction of its third chilling center in the
current financial year. The new chilling plant would be established in New
Harsud Tehsil of Khandwa. It will take the chilling capacity of SCMPL to
2,00,000 liters per day.
VALUE ADDED PRODUCTS
The value added product manufacturing facilities will be operational at
Sandalpur Milk chilling and processing plant by November 2015. Hence, SCMPL can
launch its range of B2C products by January 2016. The products would be
packaged milk, Paneer, Mawa, Curd and Ghee. With these products SCMPL can
command more margins per liter of milk, and can enumerate farmers even better.
Initial market would be Harda, Hoshangabad, Khamdwa and Bhopal.
PACKAGED MILK
BRANDING
SCMPL is working with a Mumbai based branding and marketing firm: Origin
Bean Stalk for launching products, PR activities and brand building. OBS has
provided the packet designs required for the launch of the value added milk
products.
FIXED ASSETS:
Tangible Assets
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
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. 66.14 |
|
|
1 |
Rs. 98.69 |
|
Euro |
1 |
Rs. 72.55 |
INFORMATION DETAILS
|
Information Gathered
by : |
KMN |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
IND |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
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.