|
|
|
MIRA INFORM REPORT
|
Report No. : |
498048 |
|
Report Date : |
17.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
CARGILL INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Y-65, Ground Floor, Hauz Khas, New Delhi - 110016 |
|
Tel. No.: |
91-124-2358939 |
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|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
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|
|
Date of
Incorporation : |
12.04.1996 |
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|
|
|
Com. Reg. No.: |
55-118008 |
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|
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Capital
Investment / Paid-up Capital : |
INR 791.107 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15440DL1996PTC118008 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
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GSTN : [Goods & Service Tax
Registration No.] |
07AAACC3269J1ZM |
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TIN No.: |
Not Divulged |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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PAN No.: [Permanent Account No.] |
AAACC3269J |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
The Company is primarily engaged in the business of:
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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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Maximum Credit Limit : |
USD 31407000 |
|
|
|
|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a step down subsidiary of ‘Cargill Incorporated’, USA and was incorporated on 12th April 1996. The company is engaged in providing food, agriculture, financial and industrial products and services. Its product includes oils, grain and oilseeds, sugar, cotton and animal nutrition. The company also offers trade and structured finance, energy, transportation, metals, trade solutions, industrial specialties and other. As per the Registrar of Companies date of balance sheet (i.e. financial filed) is shown as 31.03.2017 but documents related to the financial for the year 31.03.2017 are not available from any sources. For the financial year ended 2016, the company has achieved a growth of 6.25% in its revenue as compared to the previous year but has reported low profit margin of 0.66%. Rating takes into consideration financial support available to the company from its parent entity. The company continues to benefit from the strong operational linkages with parent by virtue of access to information and relationships for sourcing raw material and tradable commodities along with benefits from global relationships in food and related industries and access to the knowledge related to commodity flows and alignment of risk management practices with the parent. In addition, the company receives financial support from Cargill Inc. in form of equity infusion, external commercial borrowings (ECB) and corporate guarantees as well as trade transactions support through advances and extended credit periods. However, rating strength is partially offset by trading nature of business operations and susceptibility to fluctuation in commodity prices as well as forex movement imparting volatility to profitability. Business is active. Payment seems to be regular. In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition. |
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Loans = AA+ (SO) |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
04.12.2017 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Loans = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
04.12.2017 |
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
31-03-2016.
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 17.03.2018
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 BY
|
Name : |
Mr. Ashish |
|
Designation : |
Manager |
|
Contact No.: |
91-9992999546 |
|
Date : |
16.03.2018 |
Given Numbers:
[91-522-273351] – Does not Exist
[91-9818146297] – Wrong Number
[91-9810149966] – Disconnecting Call/ Ringing.
LOCATIONS
|
Registered Office : |
Y-65, Ground Floor, Hauz Khas, New Delhi, South Delhi – 110016, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9992999546 [Mr. Ashish] |
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Fax No.: |
91-11-46010390 |
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E-Mail : |
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Website : |
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Corporate Office : |
14th Floor, Building 9 A,
DLF Cyber City, Phase III, Gurugram – 122002, Haryana, India |
|
Tel. No.: |
91-124-2358939/
4090489 |
|
Fax No.: |
91-124-2358977/ 2358972/ 73 |
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|
|
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Branch Office: |
Plot No. E-4, Kulkumbh, Dhund –
413801, MIDC, Kurbumbh, Pune – 413801, Maharashtra, India |
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|
|
|
Food Production Plant: |
Belludi Village, Harihar Taluka Davangere, Karnataka, India |
DIRECTORS
AS ON 2018
|
Name : |
Mr. Siraj Azmat Chaudhry |
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Designation : |
Director |
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Address : |
S-128, Windsor Court, DLF Phase LV, Gurugram -122009, Haryana, India |
||||||||||||||||
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Date of Birth/Age : |
08.01.1967 |
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Date of Appointment : |
30.09.2008 |
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DIN No.: |
00161853 |
||||||||||||||||
|
Other
Directorship:
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Deoki Nandan Muchhal |
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Designation : |
Director |
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|
Address : |
B-163 Carlton Estate-1, DLF City Phase-5, Gurugram - 122002, Haryana, India |
||||||||||||||||
|
Date of Appointment : |
30.09.2015 |
||||||||||||||||
|
DIN No.: |
01548766 |
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Other
Directorship:
|
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||||||||||||||||
|
Name : |
Mr. Ashu Malhotra |
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Designation : |
Additional Director |
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Address : |
204, Kanchanjunga Appartment, Sector-56, Gurugram 122011 |
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|
Date of Appointment : |
29.09.2017 |
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DIN No.: |
06478072 |
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|
||||||||||||||||
|
Name : |
Achyuth Vasanth Iyengar |
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Designation : |
Director |
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|
Address : |
#20, Prestige Dorchester Jakkur, Yelahanka, Bangalore - 560064, Karnataka, India |
||||||||||||||||
|
Date of Birth/Age : |
15.02.1978 |
||||||||||||||||
|
Date of Appointment : |
18.11.2016 |
||||||||||||||||
|
DIN No.: |
06633946 |
||||||||||||||||
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|
||||||||||||||||
|
Name : |
Mr. Udesh Kumar Vij |
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Designation : |
Director |
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Address : |
A-16, Vishwanath Township, Zadeshwar Road, Bholav (Ct), Narmada Nagar, Bharuch – 392015, Gujarat, India |
||||||||||||||||
|
Date of Appointment : |
29.09.2017 |
||||||||||||||||
|
DIN No.: |
07823739 |
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KEY EXECUTIVES
|
Name : |
Ms. Jyotika Dwivedi |
|
Designation : |
Secretary |
|
Address : |
H. No. 43A, Anandlok Colony, Manpur (West), Dewalchou, Haldwani - 263139, Uttarakhand, India |
|
Date of Appointment : |
17.04.2014 |
|
PAN No: |
AVSPD2618L |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Equity Shareholders |
|
No. of Shares |
|
Cargill Mauritius Limited, |
|
69410677 |
|
Cargill International Trading Pte. Limited, Singapore |
|
10266384 |
|
Cargill Asia Pacific Holdings Pte. Limited, Singapore |
|
6976632 |
|
Cargill Global Trading India Private Limited, India |
|
8450000 |
|
Total |
|
95103693 |
|
Names of Preference Shareholder |
|
No. of Shares |
|
Cargill Global Trading India Private Limited, India |
|
1250000 |
|
Total |
|
1250000 |
AS ON 29.09.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters – [Bodies corporate] |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is primarily engaged in the business of:
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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 : |
|
|
Name : |
B S R and Associates LLP Chartered Accountants |
|
Address : |
Building No. 10, 8th Floor, Tower - B, DLF
Cyber City, Phase - II, Gurugram - 122002, Haryana, India |
|
PAN No.: |
AAIFB4734C |
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|
|
|
Memberships : |
Not Available |
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|
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Collaborators : |
Not Available |
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|
Holding Company: |
Cargill Mauritius Limited, Mauritius |
|
|
|
|
Subsidiary
Companies: [As On 29.09.2017] |
[CIN No.: U51909DL2002PTC118226]
[CIN No.: U74140DL2010PTC308278] |
|
|
|
|
Ultimate Holding
Company: [As On 31.03.2016] |
Cargill Incorporated, United States of America |
|
|
|
|
Fellow Subsidiary
Companies: [As On 31.03.2016] |
· Awb India Private Limited, India · Can Technologies Inc, United States · Cargill (Malaysia) Sdn Bhd, Malaysia · Cargill Asia-Pacific Holdings Pte Ltd, Singapore · Cargill Bv, Amsterdam, Netherlands · Cargill Cotton Ltd, United Kingdom · Cargill Europe Bvba, Belgium · Cargill Global Trading India Private Limited, India [CIN NO.: U51909DL2002PTC118226] · Cargill International Luxemburg, Luxembourg · Cargill International S A, Geneva, Switzerland · Cargill International Trading Pte Ltd, Singapore · Cargill Investments (China) Ltd, China · Cargill Ocean Transportation, Singapore · Cargill Pakistan Agrifoods(Pvt)Ltd. Pakistan · M.A. Cargill Trading Ltd., Taiwan · Provimi Animal Nutrition India Private Limited, India [CIN NO. U24111KA1983PTC005213] |
|
|
|
|
Subsidiary
Companies: [As On 31.03.2016] |
· AWB Krishi Suvidha Parisar (Kota) Private Limited, India · AWB Krishi Upaaj Vipnan Parisar (Talera) Private Limited, India [CIN NO.: U74130DL2006PTC148459] |
CAPITAL STRUCTURE
AS ON 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
120000000 |
Equity Shares |
INR 10/- each |
INR 1200.000 Million |
|
26000000 |
Preference Shares |
INR 10/- each |
INR 260.000 Million |
|
|
Total |
|
INR 1460.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
95103693 |
Equity Shares |
INR 10/- each |
INR 951.037 Million |
|
1250000 |
Preference Shares |
INR 10/- each |
INR 12.500 Million |
|
|
Total |
|
INR 963.537
Million |
AS ON 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
120000000 |
Equity Shares |
INR 10/- each |
INR 1200.000 Million |
|
26000000 |
Preference Shares |
INR 10/- each |
INR 260.000 Million |
|
|
Total |
|
INR 1460.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
77860677 |
Equity Shares |
INR 10/- each |
INR 778.607 Million |
|
1250000 |
Preference Shares |
INR 10/- each |
INR 12.500 Million |
|
|
Total |
|
INR 791.107
Million |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
791.107 |
706.607 |
557.306 |
|
(b) Reserves &
Surplus |
10201.564 |
7548.114 |
4199.406 |
|
(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) |
10992.671 |
8254.721 |
4756.712 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
3295.440 |
3192.922 |
899.175 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
268.307 |
|
(d) long-term provisions |
271.395 |
260.488 |
0.000 |
|
Total Non-current
Liabilities (3) |
3566.835 |
3453.410 |
1167.482 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
722.673 |
4264.729 |
9857.233 |
|
(b) Trade payables |
9153.607 |
4651.320 |
4772.908 |
|
(c) Other current
liabilities |
2082.504 |
1578.275 |
1169.157 |
|
(d) Short-term provisions |
447.337 |
138.033 |
225.009 |
|
Total Current Liabilities
(4) |
12406.121 |
10632.357 |
16024.307 |
|
|
|
|
|
|
TOTAL |
26965.627 |
22340.488 |
21948.501 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
5025.537 |
1838.659 |
1810.726 |
|
(ii) Intangible Assets |
866.965 |
1089.759 |
1308.633 |
|
(iii) Capital
work-in-progress |
2837.927 |
2996.751 |
255.594 |
|
(iv) Intangible assets
under development |
0.000 |
554.227 |
554.227 |
|
(b) Non-current
Investments |
20.846 |
35.694 |
35.694 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1186.199 |
2070.849 |
1707.118 |
|
(e) Other Non-current
assets |
45.270 |
50.148 |
52.948 |
|
Total Non-Current Assets |
9982.744 |
8636.087 |
5724.940 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
11402.537 |
10610.741 |
11525.158 |
|
(c) Trade receivables |
2273.041 |
1921.536 |
2519.373 |
|
(d) Cash and cash
equivalents |
1249.920 |
90.803 |
1068.241 |
|
(e) Short-term loans and
advances |
1073.742 |
847.772 |
648.133 |
|
(f) Other current assets |
983.643 |
233.549 |
462.656 |
|
Total Current Assets |
16982.883 |
13704.401 |
16223.561 |
|
|
|
|
|
|
TOTAL |
26965.627 |
22340.488 |
21948.501 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
71536.971 |
67377.863 |
75363.829 |
|
|
Other Income |
470.408 |
388.909 |
1564.590 |
|
|
TOTAL |
72007.379 |
67766.772 |
76928.419 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
36224.010 |
37683.719 |
41969.939 |
|
|
Purchases of
Stock-in-Trade |
26222.104 |
19118.539 |
23344.859 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(1355.257) |
1146.825 |
1414.186 |
|
|
Employees benefits
expense |
1856.888 |
1688.618 |
1464.260 |
|
|
CSR Expenditure |
2.976 |
0.000 |
0.000 |
|
|
Other expenses |
7606.408 |
6991.377 |
8114.483 |
|
|
TOTAL |
70557.129 |
66629.078 |
76307.727 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
1450.250 |
1137.694 |
620.692 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
393.860 |
753.890 |
1469.754 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
1056.390 |
383.804 |
(849.062) |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
574.590 |
483.924 |
719.960 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
481.800 |
(100.120) |
(1569.022) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
(2.107) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
481.800 |
(100.120) |
(1566.915) |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
(1777.470) |
(1677.350) |
(110.435) |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
(1295.670) |
(1777.470) |
(1677.350) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
2111.936 |
4948.654 |
11941.118 |
|
|
TOTAL EARNINGS |
2111.936 |
4948.654 |
11941.118 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
22742.670 |
24084.081 |
23967.872 |
|
|
Components and Stores
parts |
340.417 |
167.758 |
151.100 |
|
|
Capital Goods |
68.425 |
339.712 |
22.329 |
|
|
TOTAL IMPORTS |
23151.512 |
24591.551 |
24141.301 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
6.88 |
(1.57) |
(28.76) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operations |
4018.837 |
2322.652 |
(2936.502) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days [Sundry Debtors / Income *
365] |
11.60 |
10.41 |
12.20 |
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
31.47 |
35.06 |
29.91 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
53.50 |
29.89 |
26.67 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.13 |
0.11 |
0.05 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.17 |
0.18 |
0.16 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.58 |
0.62 |
0.77 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.37 |
0.90 |
2.26 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.13 |
1.29 |
3.37 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.79 |
0.78 |
0.83 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
3.68 |
1.51 |
0.42 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
PAT to Sales ((PAT / Sales) * 100) |
% |
0.67 |
(0.15) |
(2.08) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
1.79 |
(0.45) |
(7.14) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
4.38 |
(1.21) |
(32.94) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.37 |
1.29 |
1.01 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
0.45 |
0.29 |
0.29 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.41 |
0.37 |
0.22 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
5.08 |
10.55 |
19.30 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.37 |
1.29 |
1.01 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
557.306 |
706.607 |
791.107 |
|
Reserves & Surplus |
4199.406 |
7548.114 |
10201.564 |
|
Net
worth |
4756.712 |
8254.721 |
10992.671 |
|
|
|
|
|
|
Long Term borrowings |
899.175 |
3192.922 |
3295.440 |
|
Short Term borrowings |
9857.233 |
4264.729 |
722.673 |
|
Total
borrowings |
10756.408 |
7457.651 |
4018.113 |
|
Debt/Equity
ratio |
2.261 |
0.903 |
0.366 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
75363.829 |
67377.863 |
71536.971 |
|
|
|
(10.597) |
6.173 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
75363.829 |
67377.863 |
71536.971 |
|
Profit/ (Loss) |
(1566.915) |
(100.120) |
481.800 |
|
|
(2.08%) |
(0.15%) |
0.67% |
LEGAL
CASE
LOCAL
AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners / Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
STATE OF COMPANY’S
AFFAIRS [As On 31.03.2016]
The Company has reported a turnover of INR 71536.970 million (net of excise duty) during the current financial year ending 31st March 2016, showing an increase of 6.17% over previous financial year. It has reported a net profit of INR 481.800 million (before tax) during the current financial year as against the loss of INR 100.120 million in previous financial year.
BACKGROUND: As On
31.03.2016]
Cargill is keen to enable employees who are concerned about malpractice or impropriety to report these concerns and seeks to put in place adequate safeguards for ‘whistleblowers’ or “whistle blower mechanism” so as not to suffer a detriment, being dismissal or otherwise, because of a disclosure they make. While Cargill seeks to encourage resolution of workplace issues and disputes using the Company procedures in the first instance but provide protection to employees who make disclosures inside or outside the Company.
Employees are often the first to realize that there may be something seriously wrong within an organization. However, they may not express their concerns due to the fear of victimization or the idea of misplaced loyalty. This procedure also seeks to balance the need to provide safeguards for staff who raise genuine concerns about malpractice against the need to protect other members of staff against uninformed or vexatious allegations which can cause serious difficulty to innocent individuals.
COMPANY OVERVIEW As
On 31.03.2016]
Subject is a subsidiary of Cargill Mauritius Limited (‘CML’), Mauritius. The Company is primarily engaged in the business of:
- Agricultural Supply Chain Business which primarily comprises of trading in wheat, grains, oilseeds, sugar and cotton.
- Cargill Food Ingredients and Systems which primarily comprises of edible Oils and other related products such as refining of edible oils and trading of edible oil and manufacture and trading of artificial flavors and emulsions.
- Merchanting Trades primarily in respect of soya meal, corn and other commodities.
- Manufacturing and trading of animal feed and nutrition.
UNSECURED LOANS:
|
Particulars |
31.03.2016 INR In Million |
31.03.2015 INR In Million |
|
LONG-TERM
BORROWINGS |
|
|
|
Loans and advances from related
parties |
3295.440 |
3192.922 |
|
SHORT-TERM
BORROWINGS |
|
|
|
Term loans from banks |
349.151 |
250.000 |
|
Foreign currency term loans from Banks |
0.000 |
2704.153 |
|
Working capital loans from banks |
168.022 |
872.701 |
|
Loans and advances from related parties |
205.500 |
437.875 |
|
Total |
4018.113 |
7457.651 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
Y10370720 |
90262634 |
H.D.F.C. BANK LIMITED |
10/03/2005 |
- |
- |
550000.0 |
SENAPATI BAPAT MARGLOWER PAREL (WEST), MUMBAI – 400013, MAHARASHTRA, INDIA |
|
2 |
Y10370704 |
90262618 |
STATE BANK OF INDIA |
24/02/2005 |
- |
- |
20000000.0 |
SAIFABAD S.I.B. BRANCH, HYDERABAD – 500004, TELANGANA, INDIA |
|
3 |
Z00341994 |
80041726 |
UTI BANK LIMITED |
10/01/2005 |
- |
- |
400000000.0 |
DLF GALLERIA SHOPPING, GURUGRAM -122002, HARYANA, INDIA |
|
4 |
Y10370504 |
90262418 |
STATE BANK OF INDIA |
09/02/2004 |
- |
- |
4500000.0 |
SAIFABAD S.I.B. BRANCH, HYDERABAD – 500004, TELANGANA, INDIA |
|
5 |
Y10370298 |
90262212 |
STATE BANK OF INDIA |
28/10/2002 |
18/04/2005 |
- |
11500000.0 |
SAIFABAD S.I.B. BRANCH, HYDERABAD – 500004, TELANGANA, INDIA |
|
6 |
Y10370293 |
90262207 |
STATE BANK OF INDIA |
20/10/2002 |
- |
- |
11500000.0 |
SAIFABAD S.I.B. BRANCH, HYDERABAD – 500004, TELANGANA, INDIA |
|
7 |
Y10370069 |
90261983 |
AP INDUSTRIAL DEVELOPMENT CORPORATION |
28/11/2000 |
- |
- |
2276000.0 |
5 - 9 - 58/B; FATEH MAIDAN ROAD, HYDERABAD – 500004, TELANGANA, INDIA |
|
8 |
Y10369989 |
90261903 |
STATE BANK OF INDIA |
31/03/2000 |
30/06/2001 |
- |
1700000.0 |
KHAIRTABAD BRANCH, HYDERABAD – 500004, TELANGANA, INDIA |
|
9 |
A00063917 |
80000162 |
ORIENTAL BANK OF CHARGE |
19/09/2001 |
- |
24/02/2006 |
0.0 |
MAIN BRANCH, SYNEGOGUE STREET, PUNE – 411001, MAHARASHTRA, INDIA |
|
10 |
A00064014 |
80000164 |
ORIENTAL BANK OF COMMERCE |
07/03/2003 |
- |
24/02/2006 |
0.0 |
MAIN BRANCH, SYNGOGUE STREET, PUNE-411001, MAHARASHTRA, INDIA |
FIXED ASSETS:
Tangible assets
·
Land
·
Building
·
Plant and Equipment
·
Furniture and Fixture
· Computer equipment
· Office equipment
·
Vehicles
· Leasehold improvements
Intangible assets
· Goodwill
· Brands and trade marks
· Computer software
WEBSITE DETAILS
PRESS RELEASE/ NEWS:
CARGILL TO BROADEN
INDIA PORTFOLIO, INVEST INR 15 BN IN COMING YEARS
Cargill has set up a
storage facility for grains and oilseeds in Karnataka and a part of its future
investments will go towards expanding the company's storage capacity
January 4, 2018
Cargill India is expanding its presence in the country and has prepared a plan to broaden its portfolio, which includes aqua feed and aqua premix, animal feed, plant for transfer fuels, strengthening edible oil brand, corn wet milling, and cocoa products for catering to the needs of chocolate making companies. Around INR 15 billion in investments has been committed by its parent for the Indian market over the next few years.
Cargill is already supplying cocoa products like cocoa powder, cocoa butter and cocoa liquor to global chocolate giants. Cargill is also exploring investment in the cocoa and chocolate space in India. Now, the company plans to prepare these product mixes in India and supply them to domestic Chocolate companies.
As of now, cocoa products are largely imported because they are duty-free while making them in India requires importing cocoa beans, which attract 30 per cent import duty. Cargill India Chairman Siraj Chaudhry said, "The government should consider the proposal to change this inverse duty structure to promote 'Make in India'."
Cargill has a few brands – Nature Fresh, Gemini, Sweekar, Leonardo, and Rath Vanaspati – in India, and the company is prominent in edible oils and aata (flour). It is already supplying to meet the edible oil requirements of global quick service restaurant (QSR) companies in India and major food companies. It is also supplying glucose and maltodextrin to leading food and healthcare companies. Cargill India's other plans include expanding or acquiring new units in the area of aqua premix and animal feed-nutrition.
"We have also set up a plan and started last fortnight for manufacturing natural transformer fuel from edible oil, which is much more environmentally friendly and useful in green cities that are coming up," said Chaudhry. This is a first in India as, so far, this fuel is made from mineral oil.
Cargill has set up a storage facility for grains and oilseeds in Karnataka and a part of its future investments will go towards expanding the company's storage capacity. Already, an investment of Rs 1 billion is underway for storage. Cargill India has also acquired an animal feed plant in Andhra Pradesh that the firm will spend money on to improve technology and for its expansion.
Animal premix required for making animal feed will also be a focus area and, whenever an opportunity arises, "we may also go for an acquisition", Chaudhry said.
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 records 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 64.87 |
|
|
1 |
INR 90.49 |
|
Euro |
1 |
INR 79.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
GEET |
SCORE FACTORS
|
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 |
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.