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|
MIRA INFORM REPORT
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Report No. : |
503093 |
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Report Date : |
10.04.2018 |
IDENTIFICATION DETAILS
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Name : |
GENERAL MILLS INDIA PRIVATE LIMITED (w.e.f.
27.12.2001) |
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Formerly Known
As : |
GODREJ PILLSBURY PRIVATE LIMITED (w.e.f. 17.09.1996) GODREJ PILLSBURY LIMITED |
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Registered
Office : |
902, Ventura,
Hiranandani Business Park, Powai, Mumbai – 400076, Maharashtra |
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Tel. No.: |
91-22-40430430 |
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Country : |
India |
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Financials (as on)
: |
31.03.2017 |
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Date of
Incorporation : |
23.11.1995 |
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Com. Reg. No.: |
11-094741 |
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Capital
Investment / Paid-up Capital : |
INR 955.100 Million |
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CIN No.: [Company Identification
No.] |
U15510MH1995PTC094741 |
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IEC No.: [Import-Export
Code No.] |
0396038301 |
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GSTN : [Goods & Service Tax
Registration No.] |
27AAACG1773B1Z0 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACG1773B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The primary
operating segment is Food Business which consists of Atta, Semiya, Cake Mix,
Canned corn etc. The Company processes Atta, Semiya and Multi grain atta under
manufacturing agreements with third parties (Co-Packers) and manufactures
Cake Mixes. The Company also renders services through the Global business
services (GBS) to cater to the knowledge processing, business processing and
other such requirements of the General Mills Group. [Registered Activity] |
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|
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No. of Employees
: |
Information denied by the management) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of General Mill Mauratius Inc, Mauratius incorporated in the year 1995 having satisfactory track record. For the financial year 2017, the company has achieved decent growth in its revenue as compared to its previous year along with improved profit margin during the year. Rating takes into consideration, the satisfactory financial risk profile marked by adequate net worth base and strong debt protection metrics. Rating continue to derive strength from its long and established track record of its business operation backed by its long and established track record of its business operation backed by its strong brand recognition “Pillsbury” along with considerable support from its holding entity. However, these rating strength gets partially offset by its low profitability margin due to its presence in highly competitive consumer retail market. Payment seems to be usually correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
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
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial Reconstruction)
list as of 10.04.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE (91-22-40430430)
LOCATIONS
|
Registered Office : |
902, Ventura,
Hiranandani Business Park, Powai, Mumbai – 400076, Maharashtra, India |
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Tel. No.: |
91-22-40430430 |
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Fax No.: |
91-22-25708949/48 |
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E-Mail : |
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Website : |
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Branch : |
504-505/A, Hyde Park, Opposite Hansa Industrial Estate, Saki Vihar
Road, Andheri (West), Mumbai – 400072,
Maharashtra, India |
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Plant : |
Located at: ·
Nashik |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Mainak Dhar |
|
Designation : |
Managing Director |
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Address : |
C-307, Anand Lok, Mayur Vihar, Phase-1, Delhi – 110091, India |
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Date of Birth/Age : |
21.02.1974 |
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Date of Appointment : |
21.05.2014 |
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DIN No.: |
06870181 |
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Name : |
Mr. Samar Satish Nagarsekar |
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Designation : |
Whole-time director |
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Address : |
B/1 Shri. Gajanan Society, Lt. Dilip Gupte Marg, Mahim,
Mumbai – 400016, Maharashtra, India |
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Date of Appointment : |
04.04.2013 |
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DIN No.: |
06566929 |
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|
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Name : |
Anindya Kundu |
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Designation : |
Whole-time director |
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Address : |
Flat No. 1601, Floor 16, Carton, Carlton Patlipada, God Bunder,
Hiranandani East West, Mumbai – 400607, Maharashtra, India |
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Date of Birth/Age : |
18.12.1961 |
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Date of Appointment : |
04.04.2013 |
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DIN No.: |
06885271 |
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Name : |
Mr. Arun Kumar Bansal |
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Designation : |
director |
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Address : |
3403, Torino, Hiranandani Gardens, Powai, Mumbai – 400076,
Maharashtra, India |
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Date of Appointment : |
13.01.2016 |
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DIN No.: |
07388783 |
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|
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Name : |
Mr. Subhonil Ghoshal |
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Designation : |
Director |
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Address : |
2003, A Eldora CHS, Hirandani Gardens, Powai Mumbai – 400076, Maharashtra, India |
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Date of Appointment : |
02.05.2016 |
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DIN No.: |
07500572 |
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Name : |
Mr. Salil Murthy |
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Designation : |
Wholetime Director |
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Address : |
1003A Birchwood Hiranandani Garden Powai, Mumbai -400076, Maharashtra, India |
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Date of Appointment : |
23.05.2017 |
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DIN No.: |
07749288 |
KEY EXECUTIVES
|
Name : |
Ms. Shivangi Sharma |
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Designation : |
Secretary / Finance Controller |
|
Address : |
Behind Shriram Hospital, Daganiya Turn, Raipur – 492001,
Chhattisgarh, India |
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Date of Appointment : |
15.04.2015 |
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PAN No.: |
BXUPS7707L |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
General Mills Mauritius Inc., Mauritius |
|
95510834 |
|
General Mills International Businesses Inc., USA |
|
1 |
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|
|
|
|
Total |
|
95510835 |
Equity Share Break up (Percentage of Total Equity)
AS ON 28.09.2017
|
Category |
Percentage |
|
Promoters- Body corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The primary
operating segment is Food Business which consists of Atta, Semiya, Cake Mix,
Canned corn etc. The Company processes Atta, Semiya and Multi grain atta
under manufacturing agreements with third parties (Co-Packers) and
manufactures Cake Mixes. The Company also renders services through the Global
business services (GBS) to cater to the knowledge processing, business
processing and other such requirements of the General Mills Group.
[Registered Activity] |
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Products / Services
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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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 : |
Information denied by the management |
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Bankers : |
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Auditors : |
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Name : |
B S R and Company LLP Chartered Accountants |
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Address : |
5th Floor, Lodha Excelus, Apollo Mills Compound, N. M. Joshi Marg, Mahalakshmi, Mumbai – 400011, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFB9852F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company: |
· General Mills Mauritius Inc., Mauritius |
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Ultimate Holding
Company: |
· General Mills Inc, U.S.A. |
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Fellow
subsidiaries: |
· General Mills Marketing Inc, USA. · General Mills International Businesses Inc. · General Mills International SARL Australia · General Mills UK Limited · General Mills Canada Corporation. · General Mills Sales Singapore Pte. Limited · General Mills France (SAS) · General Mills Food Products India Private Limited · General Mills Sales Malaysia SDN. BDH · General Mills International Switzerland · General Mills International SARL-Spain · General Mills SA (PTY) Limited |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
180500000 |
Equity Shares |
INR 10/- each |
INR 1805.000 Million |
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|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
95510835 |
Equity Shares |
INR 10/- each |
INR 955.108 Million |
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|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
955.100 |
955.100 |
955.100 |
|
(b) Reserves and Surplus |
269.700 |
136.400 |
179.800 |
|
(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) |
1224.800 |
1091.500 |
1134.900 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
200.000 |
0.000 |
200.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.100 |
0.100 |
0.100 |
|
(d) long-term
provisions |
150.000 |
78.900 |
84.600 |
|
Total Non-current
Liabilities (3) |
350.100 |
79.000 |
284.700 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
870.900 |
847.900 |
436.100 |
|
(b) Trade
payables |
963.500 |
323.800 |
269.200 |
|
(c) Other
current liabilities |
616.000 |
845.000 |
591.300 |
|
(d) Short-term
provisions |
69.800 |
68.800 |
18.200 |
|
Total Current
Liabilities (4) |
2520.200 |
2085.500 |
1314.800 |
|
|
|
|
|
|
TOTAL |
4095.100 |
3256.000 |
2734.400 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1079.000 |
1038.600 |
1079.900 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
57.100 |
32.000 |
17.800 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
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 loans and advances |
409.600 |
382.700 |
334.900 |
|
(e) Other
Non-current assets |
7.400 |
17.400 |
5.600 |
|
Total Non-Current
Assets |
1553.100 |
1470.700 |
1438.200 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1462.500 |
850.000 |
510.200 |
|
(c) Trade
receivables |
871.500 |
812.400 |
676.400 |
|
(d) Cash and
bank balances |
49.500 |
41.200 |
49.000 |
|
(e)
Short-term loans and advances |
131.400 |
79.000 |
57.800 |
|
(f) Other
current assets |
27.100 |
2.700 |
2.800 |
|
Total
Current Assets |
2542.000 |
1785.300 |
1296.200 |
|
|
|
|
|
|
TOTAL |
4095.100 |
3256.000 |
2734.400 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
9827.400 |
8363.900 |
7218.300 |
|
|
Other Income |
3.200 |
4.700 |
4.200 |
|
|
TOTAL |
9830.600 |
8368.600 |
7222.500 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
4383.300 |
3670.900 |
3186.500 |
|
|
Purchases of
Stock-in-Trade |
167.100 |
164.100 |
120.400 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(6.600) |
(79.200) |
(8.600) |
|
|
Employee benefit expense |
2273.700 |
2037.900 |
1715.400 |
|
|
CSR expenditure |
2.000 |
2.000 |
2.500 |
|
|
Other expenses |
2482.300 |
2276.800 |
1885.700 |
|
|
TOTAL |
9301.800 |
8072.500 |
6901.900 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
528.800 |
296.100 |
320.600 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
108.700 |
112.700 |
107.500 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
420.100 |
183.400 |
213.100 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
250.300 |
226.800 |
162.200 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
169.800 |
(43.400) |
50.900 |
|
|
|
|
|
|
|
Less |
TAX |
36.500 |
0.000 |
10.500 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
133.300 |
(43.400) |
40.400 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
FOB value of manufactured
goods exported |
1439.100 |
1187.000 |
974.600 |
|
|
FOB value of traded goods
exported |
93.900 |
55.700 |
86.400 |
|
|
TOTAL
EARNINGS |
1533.000 |
1242.700 |
1061.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
6.100 |
7.300 |
4.500 |
|
|
Capital Goods |
69.400 |
38.100 |
59.500 |
|
|
TOTAL IMPORTS |
75.500 |
45.400 |
64.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
1.40 |
(0.45) |
0.42 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.000 |
200.000 |
0.000 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
432.600 |
(27.100) |
150.300 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
405.200 |
(52.700) |
223.700 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
32.37 |
35.45 |
34.20 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
11.28 |
10.30 |
10.67 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
77.28 |
30.82 |
29.71 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.36 |
0.35 |
0.63 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.47 |
0.28 |
0.29 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.66 |
0.70 |
0.55 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.87 |
0.96 |
0.56 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.06 |
1.91 |
1.16 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.93 |
0.98 |
0.97 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
4.86 |
2.63 |
2.98 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
1.36 |
(0.52) |
0.56 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
3.26 |
(1.33) |
1.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
10.88 |
(3.98) |
3.56 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.01 |
0.86 |
0.99 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.43 |
0.45 |
0.60 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.30 |
0.34 |
0.42 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
1.12 |
1.10 |
0.67 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.01 |
0.86 |
0.99 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
955.100 |
955.100 |
955.100 |
|
Reserves & Surplus |
179.800 |
136.400 |
269.700 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1134.900 |
1091.500 |
1224.800 |
|
|
|
|
|
|
Long-term borrowings |
200.000 |
0.000 |
200.000 |
|
Short term borrowings |
436.100 |
847.900 |
870.900 |
|
Current maturities of
long-term debts |
0.000 |
200.000 |
0.000 |
|
Total
borrowings |
636.100 |
1047.900 |
1070.900 |
|
Debt/Equity
ratio |
0.560 |
0.960 |
0.874 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
7218.300 |
8363.900 |
9827.400 |
|
|
|
15.871 |
17.498 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
7218.300 |
8363.900 |
9827.400 |
|
Profit/ (Loss) |
40.400 |
(43.400) |
133.300 |
|
|
0.56
% |
(0.52
%) |
1.36
% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been
shifted from 8th Floor, Alpha Main Street, Hiranandani Gardens, Powai,
Mumbai – 400076, Maharashtra, India to the
present address w.e.f. 1.04.2009
STATE OF THE COMPANY’S AFFAIRS:
The Company operates in the consumer food industry and also renders services through the Global Business Services (GBS) to cater to the knowledge processing, business processing and other such requirements to the group Companies. The Company’s income from operations includes proceeds from sale of products and services. During the current financial year the Company’s income from operations increased from INR 8363.900 Million of FY16 to INR 9827.400 Million of FY17 registering growth of around 17% due to increase in the sale of products.
The Company witnessed PAT of INR 133.300 Million during FY17 when compared to loss of INR 43.400 Million of previous FY16. The management believes that it will continue to strengthen its position through dedicated research, introduction of new products and growth in market presence. In addition to concentrating on its core business, the Company has been looking at opportunities to diversify its sales by leveraging its core competency of efficient manufacturing. At General Mills India, we endeavor to raise operational efficiencies, deriving maximum productivity from resources. The Company will continue to strengthen its model and build systems that are sustainable.
SEGMENT REPORTING
"The primary operating segment is Food Business which consists of Atta, Semiya, Cake Mix, Canned corn etc. The Company processes Atta, Semiya and Multi grain atta under manufacturing agreements with third parties (Co-Packers) and manufactures Cake Mixes at its Nashik plant. The Company also renders services through the Global business services (GBS) to cater to the knowledge processing, business processing and other such requirements of the General Mills Group (General Mills Inc. and its subsidiaries/associates)."
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2017 |
As
on 31.03.2016 |
|
LONG TERM
BORROWING |
|
|
|
Rupee term loans from banks |
200.000 |
0.000 |
|
SHORT TERM
BORROWING |
|
|
|
Loans repayable on demand |
870.900 |
847.900 |
|
Total |
1070.900 |
847.900 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C64099013 |
90159664 |
CITI
BANK N.A. |
19/11/1997 |
- |
15/09/2015 |
998960.0 |
CITI TOWERDR.
S.S. RAO ROAD; PARELMUMBAIMHIN |
|
2 |
C63577597 |
90156855 |
STANDARD
CHARTERED BANK |
20/04/1998 |
- |
19/08/2015 |
72000000.0 |
23-25M.G.
ROAD; FORTMUMBAIMH400001IN |
|
3 |
C63571335 |
90156758 |
STANDARD
CHARTERED BANK |
06/01/1998 |
11/10/2000 |
19/08/2015 |
22500000.0 |
23-25MAHATMA
GANDHI ROAD; FORTMUMBAIMH400001IN |
FIXED ASSETS:
Tangible assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer 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,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 64.93 |
|
|
1 |
INR 91.50 |
|
Euro |
1 |
INR 79.69 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on secured
terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.