Specialists in Unlisted Company Coverage
India – Market Fact Base
October 2012
Contents
India – An Overview
Economic Overview
Per capita GDP
Capital Markets
Foreign Exchange & Foreign Investment
Currency
Private Equity in India
Policy Thrust
Understanding India
Corporate Landscape
What Probe and H&P can provide
Case Study
www.probeequityresearch.com
2
India – Economic Overview
Key Highlights
•Politics:
• Currently the world’s largest
democracy with a stable political
environment (ruling Congress Party)
• Economic Climate:
• Recently crossed Japan to become
3rd largest global economy by PPP
• Well developed financial system
• Growth is primarily driven by
domestic consumer demand - over
70% of the country’s GDP
• Inflation is being neutralized with
consistent economic growth
• Demographics
• Population of 1.2 billion, with a
current labor force of 487.6 million
• Average Per Capita GDP is around
€1,150 - €1,200 p.a. level
• One of highest growing % of HNWIs
• Over 150,000 USD millionaires,
which is expected to cross 240,000
by 2017
Source: World Bank; India Census; International Monetary
Fund (IMF); CIA World Factbook
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Current Scenario
India – Growth Story
•Like all economies, India has been a victim
of the current western economic crisis
•Real GDP grew at 6.5% in FY2011-12
compared to 8.4% in FY2010-11
Calendar
Year
•Economy grew by 5.5% in Q1 FY2012-13,
which will accelerate in coming quarters
with the Govt.’s active reform agenda
•Nominal growth of 15.0% in FY2011-12
•Inflation moderated to around 7.5% in 2012
from 9-10% in 2011
Sectoral
Growth
FY 2011-12
Growth
% of GDP
Growth
% of GDP
-0.2%
24%
4.0%
14%
Manufacturing
7.7%
15%
2.7%
15%
Services
5.7%
56%
8.5%
67%
Others
2.2%
5%
1.4%
4%
Total
4.4%
100%
6.5%
100%
Agriculture
Calendar
Year
FY 2000-01
www.probeequityresearch.com
Source: IMF, India Brand Equity Foundation (IBEF), RBI,
Ministry of Statistics and Program Implementation (MOSPI)
4
Among the Top growing Large Economies
Key Highlights
India among the Fastest Growing Nations
in the World today
•Government to aim for 8.2% growth rate in
the 12th Plan Period (2012-2017)
•Target for infrastructure investment in the 12th
Plan Period is €750 billion
•Target of €375 billion exports by 2015
achievable: Government
•Grant Thornton Global Dynamism Index: India
5th best country in the world for dynamic
growing businesses
•According to UNCTAD‘s ‘World Investment
Prospects Survey 2012–2014‘, India is the 3rd
most attractive destination for FDI (after China
and the US)
•In FY 2011-12, India attracted Foreign Direct
Investment (FDI) of around €27 billion in
various sectors
•India was the highest recipient of FII inflows in
Asia at €13.5 billion for Jan- Aug 2012
Source: World Economic Outlook, IMF; Economic Times; IBEF
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Contents
India – An Overview
Economic Overview
Per capita GDP
Capital Markets
Foreign Exchange & Foreign Investment
Currency
Private Equity in India
Policy Thrust
Understanding India
Corporate Landscape
What Probe and H&P can provide
Case Study
www.probeequityresearch.com
6
Per capita GDP growing at a CAGR of more than 11% p.a.
Source: IMF
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7
Contents
India – An Overview
Economic Overview
Per capita GDP
Capital Markets
Foreign Exchange & Foreign Investment
Currency
Private Equity in India
Policy Thrust
Understanding India
Corporate Landscape
What Probe and H&P can provide
Case Study
www.probeequityresearch.com
8
Increasing prominence in Global Capital Markets
Key Highlights
•Regulated by the Securities & Exchange Board of
India (SEBI) – Capital Market regulator
•NSE (Nifty) and the BSE (SENSEX) are 2 main stock
exchanges, with NSE contributing to more than 80%
of total turnover for 2011-12 (till Dec)
•BSE has >5,100 listed Indian companies and NSE has
>1,600 listed players
•Market cap of companies listed on BSE stood at $1.2
trillion as of October 2012 – the 5th largest stock
exchange in Asia and 11th largest in the world
•NSE ranks 1st in the world, with respect to number
of electronic order book trades for Oct’12
•Country's market cap as a ratio of the world market
cap has risen to 4.54%, a record high as on Oct 2012
•This was higher than the 3.12% share India enjoyed
at the market peak of Jan-2008. World market cap
was US$ 52.4 trillion as on Oct 2012
Source: BSE and NSE data; World Bank; World Federation of
Exchanges
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Contents
India – An Overview
Economic Overview
Per capita GDP
Capital Markets
Foreign Exchange & Foreign Investment
Currency
Private Equity in India
Policy Thrust
Understanding India
Corporate Landscape
What Probe and H&P can provide
Case Study
www.probeequityresearch.com
10
Foreign Exchange
• India’s total international reserves
were €221.5 billion as of Oct 2012
Source: RBI; World Bank; Department of Industrial Policy &
Promotion (DIPP); SEBI
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11
India – A Global Investment Destination
•
Total FDI into India from Apr 2000 to date
aggregates over €200 billion
•
According to UNCTAD’s World Investment
Report 2012, India’s foreign investments
is anticipated to increase by over 20% in
2012-13
•
Foreign Direct Investment (FDI) into India
for 2011-12 was €27.4 billion
•
Apr-Aug 2012 has seen FDI inflows worth
€8.2 billion
•
Economic growth backed by strong
market fundamentals is the core
attraction for global investments
•
Enabling business environment with
conducive regulatory regime adds to the
investment impetus
Source: IBEF; DIPP
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12
Contents
India – An Overview
Economic Overview
Per capita GDP
Capital Markets
Foreign Exchange & Foreign Investment
Currency
Private Equity in India
Policy Thrust
Understanding India
Corporate Landscape
What Probe and H&P can provide
Case Study
www.probeequityresearch.com
13
Currency
Exchange Rates
•Although having suffered a fall in recent
times, the Rupee is showing robust resilience
to fluctuations in global currencies
•The fall in Rupee is primarily on account of
the country’s large oil import bill
•The RBI has shielded the fall to a large
extent by bringing in timely measures
RBI’s Liberalization Measures to Arrest the Rupee’s fall – June 2012
•Allowing Indian companies to use External Commercial Borrowings (ECB) for repayment of outstanding Rupee
loans for capital expenditure. Overall ceiling for such ECBs would be $10 billion.
•Enhancing the existing limit for investment in Government securities (G-Secs) by registered FIIs, by a further
amount of $5 billion. With this the overall limit for FII investment in G-Secs has risen from $15 bn to $20 bn.
•Further rationalizing the terms and conditions of (a) FII investments in infra debt and (b) non-resident
investment in Infrastructure Development Funds (IDFs), in terms of lock-in period and residual maturity.
•Permitting Qualified Foreign Investors to invest in mutual funds holding at least 25% of their assets in infra.
Source: RBI
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Contents
India – An Overview
Economic Overview
Per capita GDP
Capital Markets
Foreign Exchange & Foreign Investment
Currency
Private Equity in India
Policy Thrust
Understanding India
Corporate Landscape
What Probe and H&P can provide
Case Study
www.probeequityresearch.com
15
Private Equity: 373 deals worth US$ 8.8 billion in
2011
Private Equity investments increased 40%, from US$ 6.2 billion in 2010 to US$ 8.8 billion in 2011
Top PE Sectors 2011
(US$ million)
Volume
Value
Value %
Real Estate &
Infrastructure Mgmt.
31
1,842
21%
100
1,408
16%
9
1,077
12%
Power & Energy
25
1,031
12%
Banking & Financial
Services
32
816
9%
Manufacturing
19
550
6%
Media, Entertainment
& Publishing
16
319
4%
Hospitality
14
295
3%
Pharma, Healthcare &
Biotech
18
261
3%
7
169
2%
IT & ITes
Automotive
Average Deal Sizes US$ Millions
$47
2007
$34
2008
$17
2009
$25
$23
2010
2011
PE Investments in 2011 are trending towards investments
in companies with focus on the growing Indian
consumption story, as opposed to the earlier trend of
investment in companies with strong export focus
Source: Grant Thornton Deal Tracker 2011
Engineering
PE Investments are back in the Real Estate &
Infrastructure and IT & ITes space with the
sectors garnering over US$3 bn of PE funding in
2011
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16
Private Equity: The story continues in 2012
309 Private Equity deals in 2012 so far (Jan-Sep) have reaped total investments worth US$ 6.0 billion
Top 5 PE Deals in 2012
Source: Grant Thornton Deal Tracker 2012
Investor
Investee
% Stake
US$ Mn
Bain Capital
Genpact Limited from
GA and Oak Hill
Capital
30%
1000.0
Morgan Stanley PE
Continuum Wind
Energy
N.A.
210.0
Macquarie SBI Infra
Fund and Trust
Ashoka Concessions
Limited
N.A.
150.0
Accel Partners, Tiger
Global
Flipkart Online
Services
N.A.
150.0
Citigroup VC
International
Cox & Kings’s Unit
Prometheon Holdings
N.A.
137.8
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Contents
India – An Overview
Economic Overview
Per capita GDP
Capital Markets
Foreign Exchange & Foreign Investment
Currency
Private Equity in India
Policy Thrust
Understanding India
Corporate Landscape
What Probe and H&P can provide
Case Study
www.probeequityresearch.com
18
Growth Enablers: Policy Thrust
• 51% FDI in multi-brand retail allowed, subject to state
governments’ permission
• 100% FDI already permitted in single brand retail
• Up to 74% FDI allowed in broadcasting sector
Welcoming
FDI
• Foreign airlines can invest up to 49% in domestic airlines
• 49% foreign investment (26% FDI, 23% FII) allowed in
power trading corporations
• Cabinet approves FDI in Insurance to 49% from current
level of 26% subject to approval by Parliament
• 26% FDI allowed in pension funds and linked to insurance
sector. If Parliament approves hike in insurance to 49% then
FDI levels in pension will also increase to 49% automatically
Source: IBEF; Ministry of Finance
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19
Growth Enablers: Policy Thrust
• Reduction in withholding tax from 20% to 5% on foreign currency
borrowing to help draw low cost funds into India
Business Friendly
Policies
• Advance Pricing Agreement (APA) notified: Will allow companies to
have an advance pricing agreement with Central Board of Direct
Taxes for calculating prices of products between parent and
subsidiary companies in international transactions
• Reserve Bank of India (RBI) relaxes guidelines for Indian companies
to raise money overseas through External Commercial Borrowings
(ECB) that will allow companies to either repay Rupee loans or fund
new capital expenditure in Rupees
External
Commercial
Borrowings
• RBI also allowed refinancing of bridge finance, or short-term credit
taken by companies in the infrastructure sector for importing capital
goods, with an ECB under the automatic route
• Infrastructure sector can seek trade credit, or short term loan, for up
to a maximum period of 5 years for importing capital goods, up from
1-3 years previously
Source: IBEF; RBI
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Contents
India – An Overview
Economic Overview
Per capita GDP
Capital Markets
Foreign Exchange & Foreign Investment
Currency
Private Equity in India
Policy Thrust
Understanding India
Corporate Landscape
What Probe and H&P can provide
Case Study
www.probeequityresearch.com
21
Understanding India: Doing Business in India
• Indian economy continues to grow at a good pace and holds a strong
position on the global map
• Country’s INR based GDP has clocked an average annual growth rate
of around 16% for the last 5 years
• Size of the Indian economy in 2010 and 2011 was €1.22 trillion and
€1.37 trillion respectively. This is expected to double in the next 7-8
years to €2.37 billion by 2017
• An attractive destination for business and investment opportunities
with available large manpower base, diversified natural resources and
strong macroeconomic fundamentals
• Indian markets have significant potential and offer prospects of high
profitability and a favorable regulatory regime for investors
Source: RBI; IMF
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22
Understanding India: Challenges
•
Limited information available for
prospective decision makers
•
A rational investor would not want to
miss out on the India growth story,
where in the economy is expected to
double every 7-8 years
•
This poses numerous opportunities for
business groups
•
But a potential foreign investor is not
aware of•
Market entry barriers/ strategies
•
Level of Competition
•
Domestic and Foreign players
•
Regulatory framework
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Contents
India – An Overview
Economic Overview
Per capita GDP
Capital Markets
Foreign Exchange & Foreign Investment
Currency
Private Equity in India
Policy Thrust
Understanding India
Corporate Landscape
What Probe and H&P can provide
Case Study
www.probeequityresearch.com
24
Aggregate Company Data
The number of companies in the consideration set is large and growing…
Companies set-up during 2012
Age Spread of Companies
No. of
Companies
% of Total
97,649
11.7%
1 to 3 Yrs
175,821
21.1%
3 to 5 Yrs
127,518
15.3%
5 to 10 Yrs
Greater than 10
Yrs
Others
173,497
20.8%
257,633
30.9%
1,707
0.2%
*833,825
100.0%
Incorporation
< 1 Yr
Total
* As on end September 2012
The number is growing very rapidly with
over 360 companies registered every day
Source: Ministry of Corporate Affairs (MCA); Probe Research
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25
Indicative Size
There are a fair number of meaningful sized unlisted companies…
Spread of Paid-up Capital
Paid-up Capital (€)
Below € 1,000
Bank Loan Limit – 2007 onwards
No. of
% of Total
Companies
Bank loan limit from
2007 onwards (€)
No. of
Companies
% of Total
Below €100,000
27,063
3.2%
38,450
4.6%
€ 1,000 - € 10,000
513,393
61.6%
€ 100,000 - € 500,000
36,813
4.4%
€ 10,000 - € 100,000
178,144
21.4%
€ 500,000 - € 1 million
17,411
2.1%
€ 100,000 - € 500,000
68,681
8.2%
€ 1 million - € 2.5 million
18,335
2.2%
€ 500,000 - € 1 million
15,536
1.9%
€ 2.5 million - € 5 million
10,442
1.3%
€ 1 million - € 5 million
14,440
1.7%
€ 5 million - € 10 million
7,234
0.9%
€ 5 million - € 10 million
2,304
0.3%
12,581
1.5%
Above € 10 million
2,877
0.3%
No charges
703,946
84.4%
833,825
100.0%
Total
833,825
100.0%
Total
Source: Ministry of Corporate Affairs (MCA); Probe Research
Above € 10 million
26
Companies are spread across the country
Geographical Distribution
Geographical Distribution in 2012
No. of Companies
% of Total
Region
No. of Companies
% of Total
Delhi
181,965
19%
Kolkata
14,972
20%
Mumbai
140,072
15%
Delhi
13,279
17%
Kolkata
126,504
13%
Mumbai
10,520
14%
Hyderabad
50,032
5%
Hyderabad
4,939
6%
Chennai
46,677
5%
Kanpur
4,581
6%
Bangalore
42,233
4%
Bangalore
4,096
5%
Ahmedabad
42,229
4%
Chennai
3,977
5%
Kanpur
32,230
3%
Ahmedabad
3,598
5%
Jaipur
29,221
3%
Pune
2,947
4%
Pune
26,072
3%
Jaipur
2,744
4%
Total
717,235
75%
Total
56,653
86%
Region
Source: Ministry of Corporate Affairs (MCA); Probe Research
27
Insights on Board of Directors
You can also understand the profile of the directors through the data.…
No. of Directors per company
# of Directors
2
3
4
5
>5
N/A
No. of
Companies
477,630
191,120
84,330
29,788
30,045
20,912
% of Total
Companies
57.3%
22.9%
10.1%
3.6%
3.6%
2.5%
Nationality of Directors
Age
# of
Country
Range of
Directors
Directors
Germany
Italy
France
3,225
1,717
2,202
20-85
21-85
21-87
Source: Ministry of Corporate Affairs (MCA)
# Indian
Companies having
at least 1 director
from this country
2,377
1,161
1,630
Age Range of Directors
Age Range of
Directors (Yrs)
< 25
25 to 35
35 to 45
45 to 60
60 to 75
> 75
Data unavailable
Total
No. of
Directors
40,601
271,508
378,252
416,923
166,973
31,938
10,447
1,316,142
% of Total
Directors
3.1%
20.6%
28.7%
31.7%
12.7%
2.4%
0.8%
100.0%
Nationality of Directors
Nationality
Indian
Foreign
No. of Directors
1,256,689
59,953
% of Total
Directors
95.4%
4.6%
28
Contents
India – An Overview
Economic Overview
Per capita GDP
Capital Markets
Foreign Exchange & Foreign Investment
Currency
Private Equity in India
Policy Thrust
Understanding India
Corporate Landscape
What Probe and H&P can provide
Case Study
www.probeequityresearch.com
29
What Probe and H&P can provide..
www.probeequityresearch.com
30
What Probe and H&P can provide..
• Can identify all 833,825 companies in India
• Provide Snapshot reports for all these companies
• Provide insights into industry segments of choice – Features; Trends;
Growth Drivers; Stage of Industry Life Cycle; Regulatory Framework;
Current Market Size; SWOT Analysis
• Provide an extensive list of companies in interested segments
• Identify major players in the market segment – both Listed and Private
• Analyze various metrics to provide entry strategies for players – either
Greenfield, Brownfield or Buyout
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31
Contents
India – An Overview
Economic Overview
Per capita GDP
Capital Markets
Foreign Exchange & Foreign Investment
Currency
Private Equity in India
Policy Thrust
Understanding India
Corporate Landscape
What Probe and H&P can provide
Case Study
www.probeequityresearch.com
32
Case Study: Dairy Sector
Indian Dairy Sector
Industry Features
Industry Trends
Industry Structure
Growth Drivers
Challenges
Industry Analysis
Annual Milk Production vis-à-vis other countries
Organized v/s Unorganized sector
Total number of Village Dairy Cooperative Societies
Total of 141 private Dairy companies identified
Snapshot Reports for the Top 22 players in the
industry
Source: Various Industry Sources; Probe Research
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33
Dairy Sector in India
Growth Drivers
Industry Features and Trends
•Rising literacy levels and increasing health awareness levels
•Milk production increased nearly 7-fold from 17 million tones in 1951 to 123
million tones in 2011 and is expected to touch 190 million tones by 2015
•Growth in disposable incomes and the consumption of value added products
like butter, cheese, yogurt, ice-creams and chocolates
•India is the largest milk consumer globally because of its large vegetarian
population - Much of what it produces is consumed domestically. Per capita
availability of milk has increased from 112 grams/day in 1969 to 263 grams/day in
2010. However, the market for consumption still remains under penetrated
•Rise in income of rural areas on account of various government schemes like
National Rural Employment Generation Scheme has resulted in demand rising
for all kinds of household goods and food items in rural markets
•In value terms, the dairy sector (milk and other value added products) has
experienced annual growth of 7.5% and predicted to reach about € 83.3 billion
(INR 5 trillion) by 2015
•80% Unorganized sector v/s 20% Organized sector
•Traditional products like fluid milk and ghee form around 70% of the entire dairy
market but recent years have seen a growth in demand for other value added
products such as butter, cheese and ice-cream
•Policies such import restrictions on dairy products to protect indigenous dairy
farmers have also helped grow the domestic industry
•This plan focuses on increasing milk productivity of the Indian dairy herd
through the use of imported genetics, selective breeding of local cattle as well
as enabling farmers to gain better access to quality feeds
•Liberalization of the dairy sector post 1991 opened the market for private
sector participation. This has been a key driver for the growth of the industry
Challenges
•Urban market is growing faster than rural markets - the average urban household
spends almost 2x on dairy products than a rural household
•Dairy prices have increased by 76% since 2004-05. Due to the high demand, dairy
products, especially fluid milk, face low price elasticity.
•India is a very minor player in the world dairy trade scene, exporting a very small
% of its total dairy production
•Due to import restrictions, India periodically imports to meet domestic demand.
For instance, it imported 3,000 metric tons of milk powder at 5% duty in 2009 in
order to meet a supply gap
•Average annual production of milk per animal is 987 kg compared to the global
average of 2,038 kg
•Total demand for milk is growing at approximately 2x the annual dairy
production growth rate which stands at around 4% - a supply deficit
•Much of the dairy sector still remains in the hands of small, informal players
that lack the focus to improve hygiene, safety and milk quality. Hence, dairy
products are unable to command premium prices
•The presence of large number of co-operatives and private dairies has created
a high degree of competition and stiff margins in the industry. Additionally,
since there is very little product differentiation, organized players do not enjoy
a high degree of brand loyalty
Dairy Sector in India
Analysis of Top Private Dairy Companies
FY2010 Revenues Breakup
Sl.
No.
Company Name
1
Mother Dairy Fruit And Vegetable
Mother Dairy
2
Nestle India
Nestle, Everyday, Milkmaid, Neslac
3
Hatsun Agro Product
4
Kwality Dairy (India)
5
Sterling Agro Industries
Nova, A-One
6
VRS Foods
Paras
7
Schreiber Dynamix Dairies
Dynamix
8
Heritage Foods (India)
Heritage
9
Tirumala Milk Products
10
Parag Milk Foods Private
Dairy Brands
Liquid Milk
Value Added Products
FY10 Revenues
(Rs Cr)
from Dairy Products
CAGR
(FY08-10)
Net Margin
(FY10)
85.2%
12.9%
3,232.7
25.8%
0.0%
NA
NA
2,776.3
19.7%
NA
Hatsun, Arokya
66.9%
30.0%
1,140.6
15.0%
0.2%
Dairy Best, Livlite
30.4%
69.6%
1,054.9
78.0%
1.7%
8.8%
80.9%
964.3
17.0%
3.7%
24.1%
75.9%
914.4
0.9%
1.2%
23.3%
73.4%
750.6
3.5%
2.9%
77.8%
20.0%
688.3
19.1%
0.8%
Tirumala
84.9%
14.4%
586.0
25.2%
2.7%
Gowardhan
41.5%
57.8%
492.0
27.2%
1.7%
Mother Dairy Fruit And Vegetable Private Limited
Company Background
Segment Analysis
•A wholly-owned subsidiary of the National Dairy Development Board (NDDB)
Sales Analysis
•incorporated in March 2000, MDFVL’s operations comprise of procurement,
processing, manufacturing, marketing and distribution of milk and dairy
products; fresh and frozen fruits and vegetables, fruit juices, pulp,
concentrates; and blended edible oils
(Rs cr)
•Dairy products are marketed under the flagship brand ‘Mother Dairy’; Fruits
and vegetables under ‘Safal’ brand
•MDFVL’s distribution and Individual Quick Freezing (IQF) facility is situated at
Delhi; MDFVL’s fruit processing plant is situated at Bangalore with a capacity of
around 250 MT per day
Mar-09
Mar-10
Mar-11
Value
Growth
Value
Growth
Value
Growth
2,854.3
39.7%
3,222.3
12.9%
3,988.3
23.8%
Horticulture
227.9
-14.6%
424.5
86.2%
472.9
11.4%
Edible oils
480.4
16.3%
275.4
-42.7%
343.5
24.7%
3,562.6
30.8%
3,922.2
10.1%
4,804.7
22.5%
Value
Margin
Value
Margin
Value
Margin
43.2
1.5%
43.3
1.3%
63.4
1.6%
Dairy products
Total
EBIT Analysis
(Rs cr)
Mar-09
Mar-10
Mar-11
Business Description
Dairy products
•MDFVL processes and markets dairy products, edible oils; fruits and
vegetables (fresh and frozen) and fruit juices;
Horticulture
5.7
2.5%
7.3
1.7%
-3.7
-0.8%
Edible oils
2.7
0.6%
11.8
4.0%
14.1
4.1%
51.6
1.4%
62.4
1.6%
73.8
1.5%
•Over 1,000 exclusive booths in Delhi and NCR (National Capital Region) and
over 350 Safal outlets which sell vegetables and fruits
Revenue Model
Total
Historical Financial Data
Revenue Segment
Description
Particulars (Rs cr)
Mar-09
Mar-10
Mar-11
Dairy Products
Includes manufacture and trading of liquid milk and other milk
products
Revenue
3,562.6
3,922.2
4,804.7
Revenue Growth%
30.8%
10.1%
22.5%
Horticulture
Fresh and frozen fruits and vegetables, fruit pulp and juices. MDFVL
also exports pulps and juices.
EBIT
72.7
46.3
49.1
Edible Oils and
Others
Includes processing and trading of oil and other products
EBITDA Margin
1.0%
0.7%
0.6%
2.1
1.1
0.9
Net Margin
0.1%
0.0%
0.0%
Brands
Products
ROCE
6.0%
3.6%
3.8%
Mother Dairy
Products
Liquid Milk, Ice Creams, Flavored Milk, Dahi, Lassi, Mishti Doi, Ghee,
White Butter, Table Butter, Cheese and UHT Milk
RoE
0.8%
0.4%
0.3%
Debt
940.8
1,027.0
1,017.6
Dhara
Refined Vegetable Oil, Refined Sunflower Oil, Refined Soybean Oil,
Refined Rice Bran Oil, Groundnut Oil and other edible oils
Total Equity
274.7
275.5
276.1
Total Assets
1,215.5
1,302.5
1,293.6
Fresh Fruits & Vegetables, Frozen Vegetables and Fruit Juices.
Net Fixed Assets
203.8
279.4
346.6
Net Current Assets
928.9
963.8
928.2
Safal
Net Profit
Mother Dairy Fruit And Vegetable Private Limited
Capacity Details
Capacity Details
Board of Directors
Mar-10
Mar-11
29.2
36.5
Bulk Vended Milk
Installed Capacity (Liters in cr)
Actual Production (Liters in cr)
Nagarajan Sivaramakrishnan – Managing Director
Mr. S. Nagarajan has been the Managing Director of Mother Dairy Foods
Processing Ltd since May 2010. He has previously worked with Nestle, Cadbury,
Joyco and Frito Lays. He has 22 years of experience. He is a graduate in Dairy
Technology from Anand, Gujarat and holds a PGDM from IIM Ahmedabad.
40.8
41.7
139.7%
114.3%
Directors
Designation
Age
Installed Capacity (Liters in cr)
31.9
41.8
Nagarajan Sivaramakrishnan
Managing director
51
Actual Production (Liters in cr)
21.0
28.4
Sangeeta Talwar
Director
56
65.6%
67.9%
Akkapeddi Mohan Muralidhar Sarma
Director
-
Deepak Tikku
Director
-
Amrita Hirubhai Patel
Director
69
Capacity Utilization (%)
Poly pack milk - Milk Packing
Capacity Utilization (%)
Ice Cream
Installed Capacity (Liters in cr)
0.9
0.9
Actual Production (Liters in cr)
1.3
1.9
146.5%
204.1%
Capacity Utilization (%)
Edible Oil
7.8
5.6
Actual Production (Kgs in cr)
3.5
4.9
44.5%
87.2%
Milk Products/Others- Milk handling capacity
Installed Capacity (Ltrs in cr)
31.0
33.8
Actual Production (Ltrs in cr)
2.7
4.2
8.8%
12.4%
Capacity Utilzation (%)
Safal National Exchange of India Limited
-24.6
Total Assets
24.3
Peer Comparison
0.5
0.5
Actual Production (Kgs in cr)
0.9
0.6
114.6%
4.8
4.8
Actual Production (Kgs in cr)
1.5
2.3
31.1%
47.4%
Capacity Utilization (%)
1.3
Accumulated Losses - Profit and Loss Account
Installed Capacity (Kgs in cr)
Installed Capacity (Kgs in cr)
4.4
Net Income
Heritage Foods
Fruit Juices, Pulps, Concentrates
100.0%
Total Income
Peers (FY2011, Rs cr)
177.7%
2006
Extent of Holding
Frozen Vegetables
Capacity Utilzation (%)
Mar-11
Year Incorporated
Installed Capacity (Kgs in cr)
Capacity Utilization (%)
Subsidiary and Key Financial Highlights
Sales
Net Income
1,096.2
1.2
Tirumala Milk Products
834.5
26.1
ABT Industries Limited
667.3
2.6
Parag Milk Foods
628.5
3.1
Shareholding Pattern
Shareholding Patterns (Equity Shares)
Jun-11
National Dairy Development Board
100.0%
Currency Exchange Rates
Note:
Wherever applicable, numbers in the slides have been rounded off to the nearest whole number.
Conversion rate used: 1 US$ = INR 45
1 Euro = INR 60
1 Euro = US$ 0.75
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