MIRA INFORM REPORT
|
Report No. : |
305178 |
|
Report Date : |
31.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
PARAG MILK FOODS PRIVATE LIMITED (w.e.f. 11.04.2008) |
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Formerly Known
As : |
PARAG MILK AND MILK PRODUCTS PRIVATE LIMITED |
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Registered
Office : |
Flat No.1, Plot No.19, Nav Rajasthan Society, Behind Ratna Memorial
Hospital, S.B. Road, Shivaji Nagar, Pune – 411 016, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of Incorporation
: |
29.12.1992 |
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Com. Reg. No.: |
11-070209 |
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Capital
Investment / Paid-up Capital : |
Rs.159.695 Millions |
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CIN No.: [Company Identification
No.] |
U15204MH1992PTC070209 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
PNEP02591B |
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PAN No.: [Permanent Account No.] |
AABCP0425G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Milk Products such as Ghee, Butter,
Cheese and Milk Powder. |
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No. of Employees
: |
More than 1700 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 2500000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow But Correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having moderate track record. As per ROC the date of balance sheet (i.e. financial filed) is shown
as 31.03.2014 but the documents related to the financial for the year 2014
are not available from any sources. As per available financial of 2013, borrowings recorded by the company
are huge and increasing. However, trade relations are reported as fair. Business is active.
Payments terms are to be slow but correct. The company can be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term bank facilities = BB+ |
|
Rating Explanation |
Inadequate credit quality and high credit risk. |
|
Date |
February, 2014 |
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Rating Agency Name |
CRISIL |
|
Rating |
Short term bank facilities = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
February, 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Ajit Marathe |
|
Designation : |
Accountant |
|
Contact No.: |
91-9890700668 |
|
Date : |
28.01.2015 |
LOCATIONS
|
Registered Office : |
Flat No.1, Plot No.19, Nav Rajasthan Society, Behind Ratna Memorial Hospital,
S.B. Road, Shivaji Nagar, Pune – 411 016, Maharashtra, India |
|
Tel. No.: |
91-20-25674762/ 25674761/ 2133224761 |
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Mobile No.: |
91-9890700668 (Mr. Ajit Marathe) |
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Fax No.: |
91-20-25674763/ 25674761 / 2133223940 |
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E-Mail : |
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Website : |
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Area : |
2000 sq. ft. |
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Location : |
Owned |
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Corporate
Office/ Factory 1 : |
Awasari Phata, Manchar, District Pune – 410 503, |
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Tel. No.: |
91-21-33224763 |
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E-Mail : |
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Location : |
Owned |
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Factory 2 : |
Village Samudrapalle, and Panchayat Palmner Handal, |
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Location : |
Owned |
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Marketing Office
1 : |
8th Floor, 81-A Wing, Mittal Court, Nariman Point, Mumbai – 400021,
Maharashtra, India |
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Tel. No.: |
91-22-22844763 / 43005555 / 43005553 |
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Eastern Regional
Office 1 : |
P-12, Kalindi Housing Estate, Ground Floor, Kolkata – 700 089, West |
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Tel. No.: |
91-33-25223090/ 25223092 |
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E-Mail : |
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Marketing Office 2
: |
20th Floor, Nirmal Building, Near INOX, Nariman Point, Mumbai - 400 021, Maharashtra, India |
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Eastern Regional
Office 2 : |
P-46, Hide Road Extension, Near Brace Bridge, Kolkata - 700 088, West Bengal, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Pritam Prakash Shah |
|
Designation : |
Managing Director |
|
Address : |
Bhagyalaxmi Niwas, Bazar Peth, Post Manchar, Ambegaon – 410503, Pune,
Maharashtra, India |
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Date of Birth/Age : |
01.11.1970 |
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Qualification : |
B.Com |
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Experience : |
16 Years |
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Date of Appointment : |
06.02.2009 |
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Din No.: |
01127247 |
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Name : |
Mr. Devendra Prakash Shah |
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Designation : |
Director |
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Address : |
Bhagyalaxmi Niwas, Bazar Peth, Post Manchar, Ambegaon – 410503, Pune,
Maharashtra, India |
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Date of Birth/Age : |
27.04.1964 |
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Qualification : |
B.Com |
|
Experience : |
16 Years |
|
Date of Appointment : |
29.12.1992 |
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Din No.: |
01127319 |
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|
|
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Name : |
Mr. Parag Prakash Shah |
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Designation : |
Director |
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Address : |
Bhagyalaxmi Niwas, Bazar Peth, Post Manchar, Ambegaon – 410503, Pune,
Maharashtra, India |
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Date of Birth/Age : |
22.06.1967 |
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Date of Appointment : |
29.12.1992 |
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Din No.: |
01127099 |
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Name : |
Mr. Dhaval Sumantrai Desai |
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Designation : |
Director |
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Address : |
405, Gayatri Opposite Pratap Society, |
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Date of Birth/Age : |
14.09.1956 |
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Qualification : |
Graduate |
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Date of Appointment : |
15.01.2008 |
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Din No.: |
00510044 |
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|
Name : |
Mr. Sunil Badriprasad Goyal |
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Designation : |
Director |
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Address : |
731/ A, 7th Floor, Akshay Girikunj – III, |
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Date of Birth/Age : |
04.10.1967 |
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Date of Appointment : |
15.01.2008 |
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Din No.: |
00503570 |
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Name : |
Mr. Rakesh Ram Gopal Sony |
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Designation : |
Director |
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Address : |
Lotus Court, Flat No.10, 2nd Floor, JT Road, Chruchgate,
Mumbai - 400 021, Maharashtra, India |
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Date of Birth/Age : |
02.01.1976 |
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Date of Appointment : |
06.02.2009 |
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Din No.: |
00363053 |
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Name : |
Mr. Bharatkumar Mahendrabhai Vyas |
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Designation : |
Director |
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Address : |
A-1, Kaira Can Complex, Near Chikhorda Railway Crossing, Anand-388001,
Gujarat, India |
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Date of Birth/Age: |
05.05.1950 |
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Date of Appointment : |
29.09.2010 |
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Din No.: |
00043804 |
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Name : |
Mr. Ggirish Dinantath Nadkarni |
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Designation : |
Director |
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Address : |
B/5, Shree, Saikrupa Co-operative Housing Society Limited, Natvar
Nagar Road, Jogeshwari (East), Mumbai – 400060, Maharashtra, India |
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Date of Birth/Age: |
21.10.1968 |
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Date of Appointment : |
17.09.2013 |
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Din No.: |
00112657 |
KEY EXECUTIVES
|
Name : |
Mr. Dharmendra Kumar Vyas |
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Designation : |
Secretary |
|
Address : |
Near Old Kotwali, Old City Kishangarh, Kishangarh, Ajmer – 305802,
Rajasthan, India |
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Date of Birth/Age : |
20.11.1983 |
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Date of Appointment : |
13.11.2011 |
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Pan No.: |
AEMPV2653N |
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|
Name : |
Mr. Ajit Marathe |
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Designation : |
Accountant |
MAJOR SHAREHOLDERS
AS ON 30.09.2013
Name of Shareholders File is attached
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
13.43 |
|
Directors
or relatives of directors |
85.46 |
|
Other
top fifty shareholders |
1.11 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Milk Products such as Ghee,
Butter, Cheese and Milk Powder. |
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Products : |
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Brand Names : |
“GOWARDHAN” |
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Agency Held : |
Not Divulged |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Materail |
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Countries : |
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Terms : |
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Selling : |
L/C / Credit |
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Purchasing : |
L/C / Credit |
PRODUCTION STATUS [AS ON 31.03.2011]
INSTALLED
CAPACITIES:
|
Particulars |
As
at March 31, 2011 |
|
Pasteurized Milk |
1700000 LPD |
|
Condensed Milk |
105 TPD |
|
Cream/ Ghee/ Cheese |
65 TPD |
|
SMP/ Dairy Whitener/ Gulab Jamun Mix/ Real Milk Powder |
65 TPD |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Not Divulged |
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No. of Employees : |
More than 1700 [Approximately] |
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Bankers : |
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Facilities : |
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Banking Relations
: |
--- |
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Auditors : |
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Name: |
Haribhakti and Company Chartered Accountants |
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Subsidiaries : |
Bhagyalaxmi Dairy Farms Private Limited CIN No.: U01211PN2003PTC018624 |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
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|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15969465 |
Equity Shares |
Rs.10/- each |
Rs.159.695 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
159.695 |
158.103 |
158.103 |
|
(b) Reserves & Surplus |
714.717 |
558.918 |
463.173 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
874.412 |
717.021 |
621.276 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2244.795 |
1510.124 |
1246.993 |
|
(b) Deferred tax liabilities (Net) |
127.273 |
125.409 |
92.614 |
|
(c) Other long term
liabilities |
23.647 |
60.534 |
57.980 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
2395.715 |
1696.067 |
1397.587 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
2232.704 |
2126.290 |
1481.458 |
|
(b) Trade payables |
856.341 |
774.375 |
498.609 |
|
(c) Other current
liabilities |
434.068 |
427.641 |
395.150 |
|
(d) Short-term
provisions |
2.164 |
50.867 |
35.973 |
|
Total Current
Liabilities (4) |
3525.277 |
3379.173 |
2411.190 |
|
|
|
|
|
|
TOTAL |
6795.404 |
5792.261 |
4430.053 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1951.204 |
2034.937 |
1715.308 |
|
(ii) Intangible Assets |
3.216 |
2.714 |
2.976 |
|
(iii) Capital
work-in-progress |
29.420 |
41.724 |
285.320 |
|
(iv)
Intangible assets under development |
32.082 |
28.295 |
0.000 |
|
(b) Non-current Investments |
180.741 |
177.698 |
177.698 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
835.477 |
452.448 |
146.032 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
5.543 |
|
Total Non-Current
Assets |
3032.140 |
2737.816 |
2332.877 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1355.301 |
1351.159 |
1130.229 |
|
(c) Trade receivables |
1517.918 |
1191.470 |
823.363 |
|
(d) Cash and cash
equivalents |
28.792 |
22.159 |
19.706 |
|
(e) Short-term loans
and advances |
532.328 |
289.974 |
41.194 |
|
(f) Other current
assets |
328.925 |
199.683 |
82.684 |
|
Total Current Assets |
3763.264 |
3054.445 |
2097.176 |
|
|
|
|
|
|
TOTAL |
6795.404 |
5792.261 |
4430.053 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
9268.700 |
8793.600 |
6284.800 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
9268.700 |
8793.600 |
6284.800 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
8362.000 |
8056.100 |
5791.800 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
8362.000 |
8056.100 |
5791.800 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
906.700 |
737.500 |
493.000 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
238.400 |
202.600 |
172.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX |
668.300 |
534.900 |
321.000 |
|
|
|
|
|
|
|
|
|
|
INTEREST |
393.700 |
365.200 |
201.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
274.500 |
169.700 |
119.300 |
|
|
|
|
|
|
|
|
|
|
PROVISION FOR
TAX |
|
|
|
|
|
|
Income Tax |
26.200 |
39.600 |
34.400 |
|
|
|
Deferred Tax |
12.300 |
32.800 |
36.200 |
|
|
|
Taxes of Earlier Years |
120.800 |
(0.500) |
1.400 |
|
|
|
Wealth Tax |
0.000 |
0.000 |
0.000 |
|
|
|
MAT (Minimum Alternate Tax) |
(62.900) |
(1.400) |
16.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
121.500 |
95.700 |
30.900 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
479.500 |
383.800 |
357.100 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
611.400 |
479.500 |
383.800 |
|
|
|
|
|
|
|
|
|
|
EARNING IN FOREIGN
CURRENCY |
|
|
|
|
|
|
F.O.B. Value Of Export |
494.858 |
98.538 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
26.625 |
27.752 |
25.312 |
|
|
|
Capital Goods |
22.531 |
3.667 |
34.314 |
|
|
TOTAL IMPORTS |
49.156 |
31.419 |
59.626 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.10/-) |
8.26 |
6.06 |
--- |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
12500.000 |
|
|
|
|
|
The above information has been parted by Mr. Ajit Marathe.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin |
(%) |
1.31 |
1.09 |
0.49 |
|
|
|
|
|
|
|
Operating Profit Margin |
|
9.78 |
8.39 |
7.84 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.19 |
3.06 |
3.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31 |
0.24 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.12 |
5.07 |
4.39 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.07 |
0.90 |
0.87 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
158.103 |
158.103 |
159.695 |
|
Reserves & Surplus |
463.173 |
558.918 |
714.717 |
|
Net
worth |
621.276 |
717.021 |
874.412 |
|
|
|
|
|
|
long-term borrowings |
1246.993 |
1510.124 |
2244.795 |
|
Short term borrowings |
1481.458 |
2126.290 |
2232.704 |
|
Total
borrowings |
2728.451 |
3636.414 |
4477.499 |
|
Debt/Equity
ratio |
4.392 |
5.072 |
5.121 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
6284.800 |
8793.600 |
9268.700 |
|
|
|
39.919 |
5.403 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
6284.800 |
8793.600 |
9268.700 |
|
Profit/(Loss) After Tax |
30.900 |
95.700 |
121.500 |
|
|
0.49% |
1.09% |
1.31% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check
List by Info Agents |
Available in Report (Yes / No) |
|
1] |
Year
of Establishment |
Yes |
|
2] |
Locality
of the firm |
Yes |
|
3] |
Constitutions
of the firm |
Yes |
|
4] |
Premises
details |
Yes |
|
5] |
Type
of Business |
Yes |
|
6] |
Line
of Business |
Yes |
|
7] |
Promoter's
background |
Yes |
|
8] |
No.
of employees |
Yes |
|
9] |
Name
of person contacted |
Yes |
|
10] |
Designation
of contact person |
Yes |
|
11] |
Turnover
of firm for last four years |
Yes |
|
12] |
Profitability
for last three years |
Yes |
|
13] |
Reasons
for variation <> 20% |
--- |
|
14] |
Estimation
for coming financial year |
No |
|
15] |
Capital
in the business |
Yes |
|
16] |
Details
of sister concerns |
Yes |
|
17] |
Major
suppliers |
No |
|
18] |
Major
customers |
No |
|
19] |
Payments
terms |
Yes |
|
20] |
Export
/ Import details (if applicable) |
Yes |
|
21] |
Market
information |
--- |
|
22] |
Litigations
that the firm / promoter involved in |
Yes |
|
23] |
Banking
Details |
Yes |
|
24] |
Banking
facility details |
Yes |
|
25] |
Conduct
of the banking account |
--- |
|
26] |
Buyer
visit details |
--- |
|
27] |
Financials,
if provided |
No |
|
28] |
Incorporation
details, if applicable |
Yes |
|
29] |
Last
accounts filed at ROC |
No |
|
30] |
Major
Shareholders, if available |
Yes |
|
31] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN
of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
Yes |
LITIGATION DETAILS
|
LITIGATION DETAILS |
|||||||
|
Bench:- Bombay |
|||||||
|
Lodging No:- |
CAL/21/2015 |
Failing Date:- |
13.01.2015 |
||||
|
Main Matter |
|||||||
|
Lodging No:- |
COL/431/2014 |
Reg. No.:- |
CP/832/2014 |
||||
|
Petitioner:- |
M/S RKG GROUP AND COMPANY |
Respondent:- |
PARAG MILK FOODS PRIVATE LIMITED |
||||
|
Petn.Adv:- |
MANJIRI SHARAD PARASNIS (I4138) |
Resp.Adv.: |
--- |
||||
|
District:- |
MUMBAI |
||||||
|
Bench:- |
SINGLE |
Category: |
CA-FOR OTHERS |
||||
|
Status:- |
Pre-Admission |
Stage:- |
-- |
||||
|
Last Date:- |
22.01.2015 |
||||||
|
Last Coram:- |
REGISTRAR (OS) / PROTHONOTARY AND SR. MASTER |
||||||
|
Act:- |
Companies Act and Rules 1956 |
Under Section : |
433, 434 |
||||
UNSECURED LOAN
|
Particulars |
As
on 31.03.2013 [Rs.
In Millions] |
As
on 31.03.2012 [Rs.
In Millions] |
|
Long Term Loan |
|
|
|
Fully Convertible Debentures |
1250.000 |
550.000 |
|
Non - Convertible Debentures |
180.000 |
0.000 |
|
Other Loans and Advances |
0.000 |
400.000 |
|
|
|
|
|
Short
Term Loan |
|
|
|
Working Capital Loans From Banks |
8.251 |
3.192 |
|
Loans Repayable on Demand |
0.000 |
39.481 |
|
Loans Repayable on Demand Others |
201.105 |
50.000 |
|
Deposits From Directors |
27.503 |
29.844 |
|
|
|
|
|
Total |
1666.859 |
1072.517 |
CURRENT MATURITIES
OF LONG-TERM DEBT
|
Particulars |
As
on 31.03.2013 [Rs.
In Millions] |
As
on 31.03.2012 [Rs.
In Millions] |
As
on 31.03.2011 [Rs.
In Millions] |
|
|
|
|
|
|
Current Maturities of Long-Term Debt |
290.256 |
295.081 |
202.577 |
VIEW INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10443204 |
12/08/2013 |
250,000,000.00 |
Union Bank of India Industrial Finance
Branch |
619,Sachapir Street, Pune Cantonment,
Camp, Pune, |
B82171810 |
|
2 |
10429908 |
15/05/2013 |
130,000,000.00 |
Union Bank of India |
Industrial Financial Branch, 619-Sachapir
Street, |
B76640630 |
|
3 |
10377612 |
09/08/2012 |
100,000,000.00 |
Union Bank of India Industrial Finance
Branch |
619 Sachapir Street, Camp, Pune,
Maharashtra - 41 |
B58501412 |
|
4 |
10342253 |
20/03/2012 |
100,000,000.00 |
EXPORT IMPORT BANK OF INDIA |
CENTRE ONE BUILDING,FLOOR 21, WORLD TRADE
CENTRE |
B35045012 |
|
5 |
10354822 |
25/08/2011 |
120,000,000.00 |
UNION BANK OF INDIA |
Industrial Finance Branch, 619, Sachapir
Street, |
B28195378 |
|
6 |
10354826 |
28/05/2013 * |
590,000,000.00 |
State Bank of India Industrial Finance
Branch |
Tara Chambers,2nd floor, Near Mariaai
Policechowky, Maharashtra - 411003, INDIA |
B77454544 |
|
7 |
10249487 |
01/11/2010 |
28,257,535.00 |
ELECTRONICA FINANCE LIMITED |
128/A, Plot No.3,Kailashchandra
Appartments,, Pau |
A98579113 |
|
8 |
10176312 |
24/12/2009 * |
100,000,000.00 |
State Bank of India |
Industrial Finance Branch, Tara Chambers,,
Mumbai |
A77456770 |
|
9 |
10146538 |
15/02/2013 * |
1,755,700,000.00 |
Union Bank of India Industrial Finance
Branch |
619-Sachapir Street, Camp, Pune,
Maharashtra - 41 |
B70314893 |
|
10 |
10146539 |
23/02/2009 |
760,000,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, 691, SACHPIR
STREET, PUNE, Maharashtra - 411001,
INDIA |
A58278912 |
* Date of charge modification
BUSINESS OVERVIEW
THE CHART BELOW SHOWS GROWTH TREND OF
THE COMPANY:-
The
Company has marked a total income of Rs. 9268.700 Millions for the Financial
Year 2012-2013 as against Rs. 8785.400 Millions during the Financial Year
2011-2012, an increase by ~6 %during the year. In an increasingly competitive
environment where the profit and profitability are greatly impacted by commodity
inflation, the Profit before tax (PBT) for the year is Rs.274.500 Millions as
against Rs.169.700 Millions an increase of 61.75% during the previous Financial
Year. The significant improvement in the bottom line is possible due to change
in the product mix, wherein the company is more focused on the value added
products.
REVIEW OF OPERATIONS
Growing Consumer
aspiration in the urban India and flurry of new products has provided a strong
foundation for the growth of food industry in India, some of the major highlights
for the financial year 2012-13 as company per se is as under:
The Company's
Cheese production continued to represents a key pillar for the future growth
due to its unique advantage of being India's largest and most sophisticated
cheese plant and company's ability to deliver the best quality. As the demand
and consumption of cheese rose on pan India basis, your Company has registered
substantial growth in manufacturing of Cheese by 43.42%. On the institutional
side, company is in continuity to supply of Cheese to all leading Food Chains
such as: Pizza Hut, Dominos, US Pizza, Smoke-in Joe's, Uncle Sam's, etc, and
institutional suppliers like Vista Foods, McCain Foods and Gravis Foods etc.
Total Sale/Production of Cheese is 7002.85tonnes during the Financial Year
2012-2013 as against 4882.82 tonnes from during the previous year 2011-12.
Ghee has been one
of the flagship products of our portfolio under �Gowardhan� brand and during
the year. Total Sale/production of Ghee is 7920.59 tonnes during the Financial
Year 2012-2013as against 7883.61 tonnes during the previous Financial Year
2011-12 and Sale/Production of Dhai7365.91 tonnes during the Financial Year
2012-2013 as against 5565.00 tonnes during the previous year 2011-12. This
resulted significant growth in the Dhai sale with growth of 32.36 %. There is a
significant growth in Sales of Butter 28.26% the total sale of Butter is
2103.45 Tonnes during the Financial Year 2012-2013 as against of 1639.94 Tonnes
during the previous year.
During the
previous year the significant capital expenditure was made to expand the
existing capacity at Planer mainly in UHT plant, resultant the full-fledged
commercial production of UHT milk started.
MARKETING AND DISTRIBUTION NETWORK
Company has its
distribution network on pan India basis. For further expansion of business in
South India, The Company's plan of setting up Depot, own distribution network,
on pan India basis has been implemented at Manchar, Palamner, Delhi, Kanpur,
Kolkata, Jammu, Guwahati, Raipur and Kerala in its first phase, in the second
phase of implementation depots at Jaipur, Cuttack, Cochin, Siliguri, Ahmedabad,
Bangalore, Chennai, Patna, Parwanoo, Indore, Hyderabad, etc. are expected to be
completed by the next year. The Company has appointed various Super Stockiest
and Super Distributors and distributor / dealers all over India during the year
taking the strength to 75 Super-stockiest, 1500 Distributors covering 125,000 retail
outlets.
NOTE :-
Registered office of the company has been
shifted from 602, Kumar Purammukund Nagar, Pune – 411037, Maharashtra, India to
the present address w.e.f. 06.02.2009
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.61.76 |
|
|
1 |
Rs.93.13 |
|
Euro |
1 |
Rs.70.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
34 |
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.