MIRA INFORM REPORT

 

 

Report No. :

325901

Report Date :

06.06.2015

 

IDENTIFICATION DETAILS

 

Name :

LOUIS DREYFUS COMMODITIES INDIA PRIVATE LIMITED (w.e.f. 22.12.2006)

 

 

Formerly Known As :

LOUIS DREYFUS INDIA PRIVATE LIMITED

 

 

Registered Office :

RNM Centre, 68/2, Janpath, New Delhi-110001

Tel. No.:

91-124-4625660

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

19.06.1997

 

 

Com. Reg. No.:

55-126131

 

 

Capital Investment / Paid-up Capital :

Rs.260.290 Million

 

 

CIN No.:

[Company Identification No.]

U51909DL1997PTC126131

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

DELL01598C

 

 

PAN No.:

[Permanent Account No.]

AAACL7361E

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trading in Agricultural Commodities, Manufacturing Comprising Processing of Edible Oils, Cotton and Coffee and Services Comprising Rendering BPO and Commission Services.

 

 

No. of Employees :

Not Divulged  

 

 

RATING & COMMENTS

 

MIRA’s Rating :                     

B (27)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 5200000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Exist

 

 

Comments :

Subject is an established company having moderate track record.

 

It is engaged into business of Trading in Agricultural Commodities, .Manufacturing Comprising Processing of Edible Oils, Cotton and Coffee and Services Comprising Rendering BPO and Commission Services.

 

There seems dip in the Turnover of the company .i.e., Rs.56885.000 Million for the FY 2014 and Rs.69770.000 Million for the FY 2013. External borrowing of the company seems to be huge and company has also incurred loss for the FY 20 14.

 

However, trade relations are fair. Business is active. Payment terms are slow but correct.

 

The company can be considered for business dealings with some caution.

 

 

 

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

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

Not Available

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2013.

 

INFORMATION PARTED BY (GENERALS DETAILS)

 

Name :

Mr. Madhudhar

Designation :

Assistant Manager

Contact No.:

91-80-40437700

Date :

04.06.2015

 

 

LOCATIONS

 

Registered Office :

RNM Centre, 68/2, Janpath, New Delhi-110001, India 

Tel. No.:

91-124-4625660

Fax No.:

Not Available

E-Mail :

rakesh.aggarwal@ldcommodities.com

del-finance@ldcommodities.com

ldnewdelhi@ldcommodities.com

 

 

Corporate Office :

648/L, 3rd Floor, 1st Main, Indiranagar, Bangalore – 560038, Karnataka, India

Tel. No.:

91-80-40437700

Fax No.:

91-80-40437729

 

 

Factory :

Survey No. 310/2/B, 312/B, 314/1/B, Village Bhimasar, Anjar, Kutch – 310160, Gujarat, India

Tel. No.:

91-2836-285265

Fax No.:

91-2836-285267

 

 

Branch Office :

8th Floor Tower, A Building No. 5, DLF Cyber City, DLF Phase III, Gurgaon, Haryana, India

Tel. No.:

91-124-4625600

 

 

Warehouse:

F 301, Gaur Sadan, 5 Hailey Road, New Delhi – 110001, India

Tel. No.:

91-11-42454545

Fax No.:

91-11-42454545

 

 

DIRECTORS

 

AS ON 25.09.2014

 

Name :

Mr. Rakesh Aggarwal

Designation :

Director

Address :

A – 75/11, DDA Residential Area, Naraina Vihar, New Delhi – 110028, India

Date of Birth/Age :

01.11.1962

Date of Appointment :

18.02.2013

DIN No.:

00091568

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U51909DL2006PTC154940

AWB Krishi Suvidha Parisar (MP) Private Limited

Additional director

22-10-07

22-10-07

29-08-08

Strike off

NO

2

U21020DL2007PTC162601

AWB Krishi Upaaj Vipnan Parisar (MP) Private Limited

Additional director

22-10-07

22-10-07

29-08-08

Strike off

NO

3

U51909DL2005PTC133235

AWB INDIA PRIVATE LIMITED

Additional director

24-10-07

24-10-07

03-09-08

Active

NO

4

U74130DL2006PTC148459

AWB KRISHI UPAAJ VIPNAN PARISAR (TALERA) PRIVATE LIMITED.

Alternate director

20-03-09

24-10-07

03-09-08

Active

NO

5

U63021DL2005PTC142622

AWB KRISHI SUVIDHA PARISAR (KOTA) PRIVATE LIMITED

Alternate director

16-06-08

24-10-07

03-09-08

Active

NO

6

U51909DL1997PTC126131

Louis Dreyfus Commodities India Private Limited

Director

27-09-13

18-02-13

-

Active

NO

7

U74140DL2014PTC268335

LOUIS DREYFUS COMMODITIES SERVICES INDIA PRIVATE LIMITED

Director

26-06-14

26-06-14

-

Active

NO

8

U51909DL2012PTC245920

GROW MORE AGRI-COMMODITIES INDIA PRIVATE LIMITED

Director

25-09-14

15-07-14

-

Active

NO

9

U51909DL2012PTC245980

FOCUS AGRI-COMMODITIES INDIA PRIVATE LIMITED

Director

25-09-14

15-07-14

-

Active

NO

10

U51900DL2012PTC246047

PRUDENT AGRI-COMMODITIES INDIA PRIVATE LIMITED

Director

25-09-14

15-07-14

-

Active

NO

11

U51101DL2012PTC246188

SUNDER AGRI-COMMODITIES INDIA PRIVATE LIMITED

Director

25-09-14

15-07-14

-

Active

NO

12

U51909DL2012PTC245951

APEX AGRI-COMMODITIES INDIA PRIVATE LIMITED

Director

25-09-14

15-07-14

-

Active

NO

13

U51909DL2012PTC245923

SUNNY AGRI-COMMODITIES INDIA PRIVATE LIMITED

Director

25-09-14

15-07-14

-

Active

NO

 

 

Name :

James Fernando O' Donahue

Designation :

Director

Address :

30 MT, Elizabeth 14-32, High Point, Singapore  - 228519

Date of Birth/Age :

14.05.1972

Date of Appointment :

28.09.2012

DIN No.:

05200037

Other Directorship:

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U51909DL1997PTC126131

Louis Dreyfus Commodities India Private Limited

Director

28-09-12

30-01-12

-

Active

NO

2

U51909DL2012PTC245951

APEX AGRI-COMMODITIES INDIA PRIVATE LIMITED

Director

27-09-13

11-12-12

-

Active

NO

3

U51909DL2012PTC245980

FOCUS AGRI-COMMODITIES INDIA PRIVATE LIMITED

Director

27-09-13

11-12-12

-

Active

NO

4

U51909DL2012PTC245920

GROW MORE AGRI-COMMODITIES INDIA PRIVATE LIMITED

Director

27-09-13

11-12-12

-

Active

NO

5

U51909DL2012PTC245923

SUNNY AGRI-COMMODITIES INDIA PRIVATE LIMITED

Director

27-09-13

11-12-12

-

Active

NO

6

U51900DL2012PTC246047

PRUDENT AGRI-COMMODITIES INDIA PRIVATE LIMITED

Director

27-09-13

12-12-12

-

Active

NO

7

U51101DL2012PTC246188

SUNDER AGRI-COMMODITIES INDIA PRIVATE LIMITED

Director

27-09-13

14-12-12

-

Active

NO

8

U74140DL2014PTC268335

LOUIS DREYFUS COMMODITIES SERVICES INDIA PRIVATE LIMITED

Director

26-06-14

26-06-14

-

Active

NO

 

 

Name :

Olivier Francois Marie Quentin Hamy

Designation :

Director

Address :

House – 27, Cardiff, Grove, Singapore - 558893

Date of Birth/Age :

20.12.1976

Date of Appointment :

03.10.2012

DIN No.:

06400465

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U51909DL1997PTC126131

Louis Dreyfus Commodities India Private Limited

Director

03-10-12

03-10-12

-

Active

NO

2

U74140DL2014PTC268335

LOUIS DREYFUS COMMODITIES SERVICES INDIA PRIVATE LIMITED

Additional director

22-07-14

22-07-14

-

Active

NO

 

 

Name :

Mr. Bhaskar Damji Khandait

Designation :

Director

Address :

Flat No. 5, Elite Blossom, Sn.82/4/1 Nr Shriram Palace, Baner, Pune - 411007, Maharashtra, India

Date of Birth/Age :

21.08.1969

Date of Appointment :

25.09.2014

DIN No.:

06730252

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U51909DL1997PTC126131

Louis Dreyfus Commodities India Private Limited

Director

25-09-14

07-11-13

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Rakesh Aggarwal

Designation :

Secretary

Address :

A 75/II, DDA Residential Area, Naraina Vihar, New Delhi-110028, India

Date of Birth/Age :

01.11.1962

Date of Appointment :

17.10.2008

Pan No.:

AAAPA1391C

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 25.09.2014

 

Names of Shareholders

No. of Shares

Louis Dreyfus Commodities Asia Pte Limited, Singapore 

26029071

Louis Dreyfus Commodities BV, Netherland

1

Total

26029072

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 25.09.2014

 

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

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Trading in Agricultural Commodities, Manufacturing Comprising Processing of Edible Oils, Cotton and Coffee and Services Comprising Rendering BPO and Commission Services.

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Cash and Cheque

 

 

Purchasing :

Cash and Cheque

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Not Divulged 

 

 

Bankers :

Banker Name

Not Divulged

Branch Address

Not Divulged

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

Auditors :

 

Name :

Deloitte Haskins and Sells

Chartered Accountants

Address :

7th Floor, Tower B, Building No. 10, DLF Cyber City Complex, Ph-II, Gurgaon – 122022, Haryana, India

PAN N Income-tax PAN of auditor or auditor's firm :

AABFD2095B

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Ultimate Holding company:
  • Louis Dreyfus Commodities B.V

 

 

Holding company:
  • Louis Dreyfus Commodities Asia Pte Limited

 

 

Other related party:

  • Louis Dreyfus Commodities Suisse SA
  • Louis Dreyfus Commodities Beijing Trading Company
  • Louis Dreyfus Corporation Wilton
  • PT Louis Dreyfus Commodities Indonesia
  • Alenberg Cotton Company
  • Louis Dreyfus Commodities Kenya Limited
  • Louis Dreyfus Commodities Brasil SA
  • Term Commodities Inc
  • Louis Dreyfus Commodities MEA Trading DMCC.
  • Louis Dreyfus Commodities Vietnam Limited
  • Louis Dreyfus Commodities Distribution France SAS
  • Louis Dreyfus Commodities Autralia Pty Limited
  • Louis Dreyfus Commodities France S.A.S
  • Louis Dreyfus Commodities Freight Asia Pte Limited
  • Louis Dreyfus Commodities Metal Asia Pte Limited
  • Sunder Agri-Commodities India Private Limited, India

[U51101DL2012PTC246188]

  • Grow More Agri-Commodities India Private Limited, India

 [U51909DL2012PTC245920]

  • FOCUS Agri-Commodities India Private Limited, India

 [U51909DL2012PTC245980]

  • Prudent Agri-Commodities India Private Limited, India

 [U51900DL2012PTC246047]

  • Sunny Agri-Commodities India Private Limited, India

 [U51909DL2012PTC245923]

  • Apex Agri-Commodities India Private Limited, India

 [U51909DL2012PTC245951]

  • Louis Dreyfus Commodities Africa Limited
  • Biosev S. A.

 

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

30000000

Equity Shares

Rs.10/- each

Rs. 300.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

26029072

Equity Shares

Rs.10/- each

Rs. 260.290 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

260.290

260.290

69.594

(b) Reserves & Surplus

1543.690

1638.120

365.672

(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)

1803.980

1898.410

435.266

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

844.380

593.940

754.724

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

56.030

39.510

30.529

Total Non-current Liabilities (3)

900.410

633.450

785.253

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

9022.050

9751.300

10307.280

(b) Trade payables

2832.040

1756.740

1965.250

(c) Other current liabilities

1495.090

5424.430

6674.014

(d) Short-term provisions

215.480

42.370

132.490

Total Current Liabilities (4)

13564.660

16974.840

19079.034

 

 

 

 

TOTAL

16269.050

19506.700

20299.553

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

2829.630

2584.600

1110.974

(ii) Intangible Assets

15.760

19.110

23.911

(iii) Capital work-in-progress

123.730

240.400

1009.057

(iv) Intangible assets under development

0.000

0.000

1.179

(b) Non-current Investments

0.110

0.120

0.096

(c) Deferred tax assets (net)

64.130

27.410

100.074

(d)  Long-term Loan and Advances

205.610

115.330

402.260

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

3238.970

2986.970

2647.551

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

9753.540

12639.690

13695.601

(c) Trade receivables

1864.570

2012.920

1385.501

(d) Cash and cash equivalents

237.270

442.010

388.521

(e) Short-term loans and advances

1157.610

1406.690

1907.438

(f) Other current assets

17.090

18.420

247.941

Total Current Assets

13030.080

16519.730

17625.002

 

 

 

 

TOTAL

16269.050

19506.700

20299.553

 

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Turnover

56885.000

69770.000

52743.000

 

Other Income

NA

NA

NA

 

TOTAL

NA

NA

NA

 

 

 

 

 

Less

EXPENSES

NA

NA

NA

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

(131.150)

190.060

133.560

 

 

 

 

 

Less

TAX

(36.720)

61.790

43.170

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

(94.430)

128.270

90.390

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

(3.63)

4.93

3.47

 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Return on Total Assets

(PBT/Total Assets}

(%)

(0.82)

0.99

0.70

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.07)

0.10

0.31

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

5.47

5.45

25.41

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.96

0.97

0.92

 

 

 

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

69.594

260.290

260.290

Reserves & Surplus

365.672

1638.120

1543.690

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

435.266

1898.410

1803.980

 

 

 

 

long-term borrowings

754.724

593.940

844.380

Short term borrowings

10307.280

9751.300

9022.050

Total borrowings

11062.004

10345.240

9866.430

Debt/Equity ratio

25.414

5.449

5.469

 

 

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)

Turnover

52743.000

69770.000

56885.000

 

 

32.283

(18.468)

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Turnover

52743.000

69770.000

56885.000

Profit

90.390

128.270

(94.430)

 

0.17%

0.18%

(0.17%)

 

 

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

No

21

Banking facility details

No

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 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

No

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

 

IN THE HIGH COURT OF DELHI AT NEW DELHI

 

O.M.P. 605/2014

 

SPENTEX INDUSTRIES LTD ..... Petitioner

 

Through Mr Arun Arora, Adv

  

versus
  
 LOUIS DREYFUS COMMODITIES INDIA PVT LTD

..... Respondent

  
Through Mr Virendra Rawat, Adv

O R D E R

  
 16.04.2015

  
 Learned Presiding Officer is on leave today.

  
 Be re-notified for 7th July, 2015.

   
Reader to Joint Registrar

  

APRIL 16, 2015/sm

  
  $ 12

 

NOTE

 

·         INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

 

  • The registered office of the company has been shifted from G- 9, Pratap Bhavan, 5, Bahadurshah Zafar Marg, New Delhi- 110002, India to the present address w.e.f. 01.05.2012

 

FINANCIAL RESULTS

 

The Company has reported a turnover of Rs. 56,885.000 million during the current year ended March 31, 2014 as compared to Rs. 69,770.000 million in the previous year ended March 31, 2013. The Company has suffered loss before tax of Rs. 131.150 million and loss after tax of Rs. 94.430 million during the current year as compared to profit before tax of Rs. 190.060 million and profit after tax of Rs. 128.270 million in the previous year ended March 31, 2013. Previous year operating results included an exceptional loss of Rs. 269.350 million due to provision for claim receivable from third party.

 

In view of ongoing capital expenditure and fund requirement for expansion activities, the directors in order to conserve on cash resources, regret to recommend any dividend on the Equity shares.

 

MANAGEMENT ANALYSIS OF OPERATIONS

 

VEGETABLE OILS AND OILSEEDS –

 

The existing vegetable oil refineries at Kandla operated at a utilization level of 54% as Compared to 76% in previous year, whereas Refinery at Krishnapatnam has improved utilization level to 36% as compared to 24% in previous year. The company has postponed the construction of the new refinery facility at Ratnagiri in the state of Maharashtra.

 

The strategy to market vegetable oil through a team of Distributors and Agents under registered brand oil Vibhor Waza Darbar Platter Caterking has reached a new level of success and the Company expects to increase the volumes through this channel.

 

The Company during the year actively traded in Meal and the traded volume was 59,577 MT as against 128,439 MT in the previous year. The volumes were down due to high domestic price as compared to international market.

 

Grains

 

Wheat traded quantity during the year was higher by 5% to 380 KMT as compared to last year however export of corn was down to 222 KMT by 65% as compared to previous year due to unfavorable market for export. The company has strengthened its network of procurement agents and customers for trading of wheat and corn.

 

Rice

 

Sales volume of Rice has decrease by 55% and traded 83 KMT during current year against 185 KMT during previous year due to unfavorable market for export.

 

Cotton

 

Cotton trading volume has decreased by 31% and traded 140K MT against 202 K MT during previous year due to unfavorable market and quality issue in the cotton supply for export.

 

Coffee

 

Coffee mill at Kushalnagar has achieved 5496 MT Sales volume for processed coffee during the current financial year against 30 MT during previous year.

 

Coffee trading volume has decreased by 35% and traded 9020 MT against 13968 MT during previous year due to unfavorable market for export.

 

ABOUT THE COMPANY

 

Subject is part of Louis Dreyfus Commodities who are commodity merchants and processors of agricultural products having merchandised and traded bulk soft commodities in international markets. Louis Dreyfus Commodities is controlled by the Louis Dreyfus Group.

 

Louis Dreyfus Commodities is a supplier of a range of agricultural commodities integrated from origin to destination. The Company is into trading of agricultural commodities like wheat, cotton, maize, coffee, sugar, oil and seeds and manufacturing / processing of edible oils and coffee.

 

UNSECURED LOAN

 

Particulars

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

LONG TERM BORROWING

 

 

Foreign currency term loans from banks

664.720

490.410

Foreign currency term loans from others

179.660

103.530

SHORT TERM BORROWING

 

 

Loans repayable on demand from banks

800.461

906.323

Other loans and advances, others

101.744

68.807

Total

1746.585

1569.070

 

 

 

 

FIXED ASSETS

 

Tangible assets

 

  • Land
  • Buildings
  • Plant and equipment
  • Furniture and fixtures
  • Vehicles
  • Office equipment
  • Computer equipments
  • Other equipments
  • Leasehold improvements

 

Intangible assets

 

  • Computer software

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.63.90

UK Pound

1

Rs.97.98

Euro

1

Rs.71.82

 

 

INFORMATION DETAILS

 

Information Gathered by :

MNJ

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

KVT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILITY

1~10

1

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

2

--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

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

 

27

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.