Whole Milk Powder

Listing ID #968954

 The Company viz. Herman Milkfoods Limited (HMFL) was incorporated in 1992 to set up a state of the art milk processing plant at village Retgarh, Tehsil Samana, District Patiala, Punjab. The plant was set up in the year 1994 with a capacity to process 3.5 lakh litres of milk per day to manufacture Skimmed Milk Powder, Whole Milk Powder, Pure Ghee and Pasteurized Pouch Pack Milk. The original project cost of the plant is Rs.1482.00 lac which is financed by equity share capital of Rs.862.00 lac, term loan from IFCI Ltd. Rs.470.00 lac, term loan from PNB Rs.120.00 lac and state subsidy of Rs.30.00 lac. The company has paid its entire debts of IFCI Ltd. And PNB and as on date company is a debt free company.
 Following production facilities are available at the plant site :
 Processing of milk up to 3.5 lakh litres per day
 Milk pouch packing facilities - 50000 ltrs. Of milk per day
 Skimmed Milk Powder - 30 MT per day. (Disc Automizer Dryer-Alfa Laval make)
 Desi Ghee (32.5 MT per day)
LOCATION:
The plant has been set up on 13 acre land on the main National Highway connecting Patiala-Hisar at village Retgarh, Patran Road, Samana, Distt. Patiala, Punjab. The plant is just 5 kms. From Samana Mandi and 100 kms. From Chandigarh and in the heart of the Punjab which is a very rich agricultural/ Dairy farming state. The availability of the milk in the area is very high. Hence, the Plant is ideally located and having advantage of getting raw material at cheaper rates over its competitors.
MANAGEMENT :
Originally Shri Virsa Singh Sidhu, agriculturist, along with three associates, set up the milk plant. Shri Sidhu is a man with rich experience in the field of agriculture and has robust means. He was not able to manage the day to day affairs of the Company and eventually the Company became sick. During 2006, Sh. Ravinder Garg, Chartered accountant by profession, has taken over the management of the company. He has settled the debts of the secured creditors under OTS and got sanction of reduction of equity share capital by 90% under Rehabilitation package. He has inducted Rs. 9.00crore as fresh equity share capital.
THE BOARD OF DIRECTORS:
The present composition of the Board is as under:
1. Shri Ravinder Garg, Managing Director
2. Shri. Virsa Singh Sidhu, Managing Director
3. Smt. Rachna Garg, Director
4. Shri Gurmeet Singh, Director
The day-to-day affairs of HMFL are looked after by Shri Ravinder Garg, Managing Director. Shri Ravinder Garg, is a qualified Chartered Accountant with an experience of over 20 years to his credit. Shri Garg has joined as co-promoter and necessary funds had been inducted by him & his family members.
CAPITAL STRUCTURE AS ON 31/03/2013
Rs. In lacs
Authorised capital 1,00,00,000 equity shares @ Rs.10/ each 1000.00
Issued & Subscribed 98,62,220 equity shares @ Rs.10/ each 986.22
Paid-up share capital :
98,62,220 equity shares @ Rs.10/ each 986.22
Credit Worthiness :
The company is dealing with State Bank of India, Sector 10, Panchkula since 2009 and enjoying credit facilities of Rs. 6.00 crore for working capital purposes.
MARKETING:
The Company has tie up with the following Federations / institutions:
1. The Mehsana Distt. Coop. Milk Producers Union Ltd., Mehsana.
(AMUL Brand)
2. The Himachal Cooperatives Milk Producers Union Ltd. Simla.
(HIM Brand)
3. The Haryana Dairy Development Coop. Federation Ltd., Panchkula.
(VITA Brand)
4. The Punjab State Coop. Milk Producers Union Ltd., Chandigarh.
(VERKA Brand)
5. Nestle India Ltd., Moga (NESTLE Brand)
6. Glaxo Smithkline, Nabha (GOPIKA Brand)
7. Parry Enterprises (India) Ltd., Chennai (PARRY Brand)
8. Mother Dairy Fruit & Vegetable Private Limited, New Delhi.
9. Aditya Birla Retail Ltd., Mumbai
10. Visakha Dairy, Visakhapatnam
11. ITC Ltd.