MIRA INFORM REPORT
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Report Date : |
26TH May, 2006 |
IDENTIFICATION DETAILS
|
Name : |
L’OREAL INDIA PRIVATE
LIMITED |
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Registered Office : |
Rhone Poulenc House, A Wing
& B Wing, J. K. Ahire Marg, Worli, Mumbai – 400 025, Maharashtra, India. |
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Country : |
India |
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Financials (as on) : |
31.12.2004 |
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Date of Incorporation : |
19th
February, 1991 |
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Com. Reg. No.: |
11-60363 |
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CIN No.: [Company Identification No.] |
U85190MH1991PTC060363 |
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TAN No.: (Tax Deduction &
Collection Account No.) |
MUML01908E |
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PAN No.: (Permanent Account No.) |
AAACC0738K |
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Legal Form : |
Private Limited Liability
Company Subject
is a wholly owned subsidiary of L’Oreal S. A., France |
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Line of Business : |
Manufacturing, importing
and exporting of cosmetics, toiletries, personal and healthcare products such
as hair shampoos, hair dyes, face creams, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 3000000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
The company is engaged in
manufacturing and marketing of Hair Shampoos, Hair Dyes and Face Creams. It
has some accumulated losses. Trade relations are reported as fair. Payments
are reported as slow but correct. However,
the company can be considered normal for business dealings at usual trade
terms and conditions. |
LOCATIONS
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Registered Office : |
Rhone Poulenc House, A Wing
& B Wing, J. K. Ahire Marg, Worli, Mumbai – 400 025, Maharashtra, India. |
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Tel. No.: |
91-22-24935398 / 24983000 |
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Fax No.: |
91-22-24933283 / 24953798 |
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E-Mail : |
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Website : |
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Factory 1 : |
Umbergaon,
Gujarat |
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Factory 2 : |
Gut
No. 426, Chakan talegaon Road, Mahalunge Ingle, Pune – 410 501, Maharashtra |
DIRECTORS
|
Name |
Mr. Didier F. Villamyeus
(Foreign) |
|
Designation |
Managing Director |
|
Address |
Rhone Poulenc House, 'A’
Wing, S.K. Ahire Marg, Worli, Mumbai – 400 025, Maharashtra |
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Date of Appointment |
08-06-2001 |
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|
Name |
Mr. Dinesh Dayal |
|
Designation |
Wholetime Director |
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Address |
73, Maker Tower 'A’ Cuffee
Parade, Mumbai – 400 005, Maharashtra |
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Date of Appointment |
08-06-2001 |
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Date of Ceasing |
12-06-2002 |
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Name |
Mr. Abhey Yograj |
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Designation |
Director |
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Address |
N-94, Panchsheel Park, New
Delhi – 110 017, India |
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Date of Appointment |
17-03-1995 |
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|
Name |
Mr. Husson Claude (Foreign) |
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Designation |
Director |
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Address |
104, Rue D. Aguesseau
92100, Boulogue |
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Date of Appointment |
27-09-1996 |
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Name |
Mr. Evard Alain (Foreign) |
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Designation |
Director |
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Address |
6, Hemeau Du Golf 78590, Noisy Le R 01, France
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Date of Appointment |
31-12-1997 |
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|
Name |
Mr. Eric Delamare (Foreign)
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|
Designation |
Managing Director |
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Address |
24, Rue Agrippa D’Aubigne
80 000, Amines, France |
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Date of Ceasing |
31-05-2001 |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
No. of Shares |
|
Mr. Loreao SA (France) |
228100050 |
|
Laboratories Garuler ETC
Body Corporate (France) |
50 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, importing
and exporting of cosmetics, toiletries, personal and healthcare products such
as hair shampoos, hair dyes, face creams, etc. |
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Products : |
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Brand Names : |
L'Oreal
Paris, Garnier and Maybelline New York |
PRODUCTION STATUS
Class of goods
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Units ('000)
|
Installed Capacity
(Chakan) |
Actual
Production
(Chakan) |
|
Cosmetics -
Hair Care |
Bottles |
20000 |
16689 |
|
Cosmetics -
Skin Care |
Units |
15000 |
10950 |
|
Cosmetics -
Hair Colour |
Units |
20000 |
9534 |
|
Cosmetics -
Make up |
Units |
-- |
-- |
GENERAL INFORMATION
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No. of Employees : |
300 |
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Bankers : |
NA |
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Banking Relations : |
-- |
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Auditors : |
v
Lovelock & Lewes Chartered Accountant 1104, Raheja Chambers, Nariman Point, Mumbai – 400 021, Maharashtra |
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Tel. No.: |
91-22-22824242
/ 22834646 |
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Subsidiaries : |
v
Cosmetique Active
International –France v
Loreal Saipo SPA-Italy v
Cobelsa Cosmeticos
S.A. – Spain v
L’oreal US Maybelline
US/DIV v
L’oreal US Retail –DIV v
Loreal US
Maybelline/MFG v
Swan Beauties Private
Limited – India v
Yasulor Indonesia –
Indonesia v
L’oreal
Indonesia-Indonesia v
Loreal Singapore Pte.
Limited. – Singapore v
Loreal Australia –
Australia v
L’oreal South Korea –
Korea v
L’oreal Golden Limited v
L’oreal USA Inc-U.S.A. v
Elbelle – South Africa v
Marigny Manufacturing
Australia Pte. Limited v
L’oreal Denmark A/S –
Denmark v
L’oreal Thailand
Limited – Thailand v
L’oreal Germany v
L’oreal Philippines v
L’oreal U.S.A. Matrix v
Beauticos
International – China v
Frabel S.A. – Mexico v
L’oreal Deutschland
GMBH v
L’oreal Finland v
L’oreal Div. Productos
Professionales SA – Spain v
L’oreal Malaysia v
L’oreal Polaska –
Poland v
Lai Mei – Cosmetics
International Trading Cy Limited – China v
L’oreal Canada v
L’oreal New Zealand
Limited v
L’oreal Taiwan v
L’oreal U.S.A. Product
Inc. |
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Associates : |
Vichy
Laboratories |
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Parents Company : |
L’Oreal
S. A., France |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
230,000,000 |
Equity Share |
Rs. 10/- each |
Rs. 2300.000 millions |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
229,500,100 |
Equity Share |
Rs. 10/-
each |
Rs. 2295.001 millions |
FINANCIAL
DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF
FUNDS |
31.12.2004 |
31.12.2003 |
31.12.2002 |
|
SHAREHOLDERS FUNDS |
|
|
|
|
1] Share Capital |
2295.001 |
2281.001 |
1901.001 |
|
2] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
3) (Accumulated Loss) |
(1458.595) |
(1478.466) |
(1395.645) |
|
NETWORTH |
836.406 |
802.535 |
505.356 |
|
|
|
|
|
|
LOAN FUNDS |
|
|
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|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
TOTAL
BORROWING |
0.000 |
0.000 |
0.000 |
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|
|
|
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TOTAL
|
836.406 |
802.535 |
505.356 |
|
|
|
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APPLICATION OF FUNDS |
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|
|
|
|
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|
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FIXED ASSETS [Net Block] |
558.298 |
510.808 |
114.354 |
|
Capital work-in-progress |
63.165 |
29.701 |
209.291 |
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|
|
|
|
|
INVESTMENTS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
Inventories |
380.544 |
301.560 |
242.406 |
|
Sundry Debtors |
20.720 |
13.751 |
20.920 |
|
Cash & Bank Balances |
168.800 |
39.060 |
17.263 |
|
Loans & Advances |
138.022 |
214.757 |
189.473 |
|
Total
Current Assets |
708.086 |
569.128 |
470.062 |
|
Less: |
|
|
|
|
Current Liabilities |
487.527 |
302.475 |
284.903 |
|
Provisions |
5.616 |
4.627 |
3.448 |
|
Total
Current Liabilities |
493.143 |
307.102 |
288.351 |
|
Net Current Assets |
214.943 |
262.026 |
181.711 |
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
TOTAL
|
836.406 |
802.535 |
505.356 |
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.12.2004 |
31.12.2003 |
31.12.2002 |
Sales Turnover [including other income]
|
2251.472 |
1521.559 |
1138.094 |
|
|
|
|
|
Profit/(Loss) Before Tax
|
19.871 |
(82.285) |
(147.524) |
Provision for Taxation
|
-- |
(1313.360) |
(1100.597) |
Profit/(Loss) After Tax
|
19.871 |
(1395.645) |
(1248.121) |
|
|
|
|
|
Export Value
|
61.036 |
14.837 |
18.591 |
|
|
|
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Import Value
|
|
|
|
Raw Material and Packing Materials
|
197.394 |
104.242 |
176.716 |
Finished Goods
|
102.921 |
98.789 |
-- |
Capital Goods
|
6.481 |
8.860 |
-- |
Total Import
|
306.796 |
211.891 |
176.716 |
|
|
|
|
|
Total Expenditure
|
2231.601 |
1603.844 |
1285.618 |
KEY RATIOS
|
PARTICULARS |
|
31.12.2004 |
31.12.2003 |
31.12.2002 |
PAT / Total Income
|
(%)
|
0.88
|
(91.724)
|
-- |
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
0.88
|
(5.408)
|
(12.962) |
|
|
|
|
|
|
Return on Total Assets
(PBT/Total Assets} |
(%) |
1.57
|
(7.415)
|
(18.596) |
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
0.02
|
(0.102)
|
(0.292) |
|
|
|
|
|
|
Debt Equity Ratio
(Total Liability/Networth) |
|
1.59
|
(0.382)
|
(0.570) |
|
|
|
|
|
|
Current Ratio
(Current Asset/Current
Liability) |
|
1.44
|
(1.853)
|
(1.630) |
LOCAL AGENCY FURTHER INFORMATION
FIXED ASSETS
The
company’s valuable fixed assets includes Land, Factory Building, Plant and
Mahcinery, Furniture And Fixtures, Vehicles, Leasehold Improvements, Intangible
Assets.
Generic Names of Three Principal Products/Services
Item
Code No. (ITC Code) – 330510-90
Product Description: Hair
Shampoo
Item Code No. (ITC Code) –
330590-40
Product description: Hair Dye
Item Code No. (ITC Code)-
330499-10
Product Description: Face Creams
OPERATION RESULTS
The Account of the company for the period showed a loss of Rs. 19.871
millions after providing Rs. 61.123 millions for depreciation.
HISTORY
The name of the company was
changed to Indelor India Private Limited with effect from 4th July,
1996.
Again, the name of the
company was changed to the present with effect from 4th July, 2000.
In 1907, a young French
chemist, Eugene Schueller, created an innovative and safe hair colour formula. With this, the first principle of safe
innovation in the interest of beauty was set and the story of L'Oreal
began. Two years later, Mr. Eugene
Schuller registered his company, later to be named L'Oreal. Subsequently, L'Oreal products were launched
across Europe, thus beginning the worldwide expansion of the L'Oreal group, now
present in over 150 countries.
MILESTONES
|
1991 |
L'Oreal begins business in
India with the launch of the Ultra Doux range by Laboratories Garnier,
through an agent. |
|
1994 |
Creation of Laboratories
Garnier India, a 100% owned L'Oreal Subsidiary |
|
1995 |
Laboratories Garnier
introduced its first skincare product, Synergie, with the first anti-wrinkle
cream on the Indian market. |
|
1996 |
L'Oreal entered the
haircolour market with Excellence Crème, the first brand signed L'Oreal Paris |
|
1997 |
Creation of the
Professional Products Division. Set
up of two technical centers in New Delhi and Mumbai. Launch of Majirel Hair Colour |
|
1998 |
Launch of Casting, Diacolor
and Dulcia |
|
1999 |
Launch of L'Oreal Paris
make-up and skin care at select outlets |
|
2000 |
(Subsidiary) company
changed name from Indelor India to L'Oreal India. Launch of Nutrisse Hair Colour by Laboratories Garnier. |
|
2001 |
Launch of Series Expert
Hair care by L'Oreal Professional. |
|
2002 |
Launch of Active Cosmetics
Department, with VICHY. |
AS PER WEBSTIE
SHARE BUYBACK
6/29/2005
Clichy,
Wednesday June 29th, 2005 – 6.00 p.m.
SHARE BUYBACK
The Board of Directors of L’Oréal, which met on June 29th, 2005 under the
chairmanship of Sir Lindsay Owen-Jones, noted that the share buyback programme
launched on June 15th, 2004, under which twenty one millions eight hundred and
forty thousand shares have been bought back for an amount of one billion two
hundred and fifty millions euros, had been completed. The Board of Directors
decided, in application of the resolution approved by the Annual General
Meeting of April 26th, 2005, to carry out further buybacks of L'Oréal shares
over the next twelve months for a maximum amount of one billion two hundred and
fifty millions euros.
The shares thus bought back will be cancelled. This programme could of course
be interrupted in the event of a strategic opportunity.
"This news release does not constitute an offer to sell, or a solicitation
of an offer to buy, L'Oréal shares. If you wish to obtain more comprehensive
information about L'Oréal, please refer to the public documents registered in
France with the Autorité des Marchés Financiers (also available in an English
language version on our Internet site www.loreal-finance.com). This news
release may contain some forward-looking statements. Although the Company
considers that these statements are based on reasonable hypotheses at the date
of publication of this release, they are by their nature subject to risks and
uncertainties which could cause actual results to differ materially from those
indicated or projected in these statements."
Contacts at L'ORÉAL
Shareholders and market authorities
Mr Jean-Régis CAROF
tel: +33.1.47.56.83.02
http://www.loreal-finance.com
Analysts and institutional investors
Mrs Caroline MILLOT
tel: +33.1.47.56.86.82
Fax: +33.1.47.56.80.02
Journalists
Mr Mike RUMSBY
tel : +33.1.47.56.76.71
http://www.loreal.com
For further information, please contact the bank, broker or financial institution
(I.S.I.N. code: FR0000120321), and consult the usual newspapers, and the
Internet site for shareholders and investors, http://www.loreal-finance.com, or
loreal-finance.com mobile edition on the PDA; alternatively, call the freephone
number 0 800 66 66 66 (from France) or +33.1.58.13.51.36 (from outside France).
L’ORÉAL REWARDS MARKETING MINDS OF THE
WORLD
6/22/2005
Paris, 21 June, 2005—Four teams of students from around the world
competed last night in the race to win the title for the most innovative and
brilliant marketer. Students were rated on creativity, market analysis,
coherence with the brand’s values, communications skills and team presentation
style. The fate of the finalists was decided by a high profile jury made up of
L’Oréal’s top management including L’Oréal’s Chairman and CEO, Sir Lindsay
Owen-Jones, Executive Vice-President Consumer Products, Patrick Rabin;
Executive Vice President for Human Resources-Geoff Skingsley; General Manager
of L’Oréal Paris, Nicolas Hieronimus, and special guest-Mc Cann Erickson’s CEO,
John Dooner.
This year’s champions were the Swiss team “Bamboo” from Université St Gall.
They presented a new miniature-size packaging for L’Oréal’s Studio Line FX
range. Runners-up in second place was the Australian dynamic trio “The
Beasties” from Monash University with Studio Line FX Extreme, followed by
shared third place Malaysians “Osirians” from University Teknologi Malaysia with
“Trust The Instincts” mobile Studio Line FX range and South Africa’s all-girls’
team “Sisonke” from University of Cape Town with Studio Line Climatize range.
The Best Communication Campaign award went to the “Chile Challengers” from
Chile’s Universidad Adolfo Ibañez with Dare.
Launched in 1993, L’Oréal Brandstorm is an international marketing competition
that provides undergraduate marketing and graduate MA students a golden
opportunity to design a new product line for an existing L’Oréal brand. This year’s
brand case study was L’Oréal Studio Line styling products. L’Oréal provides all
participants with a real life marketing experience: an in-depth brief on the
brand and the market, a chance to meet face to face with a professional
marketing executive and a unique opportunity to work with the brand’s
communication agency developing a full communications campaign that includes
product mock-ups, posters, and ads.
President of the jury, CEO and Chairman, Sir Lindsay Owen-Jones, declared: “One
of the secrets of L'Oréal's success is its spectacularly international and
culturally diverse workforce.”
L’Oréal Brandstorm provides the L’Oréal group with an opportunity to recruit
international talents. Already in its 13th year, the competition has attracted
over 14,000 students from more than 176 schools around the world, allowing
L’Oréal marketing managers and human resources recruiters to identify talented
potential employees in action.
Last year’s winners described L’Oreal Brandstorm as fun, challenging and intense.
Most admitted that the element of exposure to the real-life marketing world and
brand management was what drove them to participate.
Top prizes for last night’s competition include an exciting trip to fashion
capitals of the world and the chance to become a marketing product manager at
L’Oréal for real!
Press Contacts:
Niki PAPADOPOULOU
Phone: +33 (0)1 47 56 48 43
email: npapadopoulou@dgc.loreal.com
L’OREAL TO ACQUIRE SKINCEUTICALS
5/18/2005
Clichy, Wednesday May 18th 2005 –7.00 p.m.
L’OREAL TO ACQUIRE SKINCEUTICALS
Strategic acquisition of a leading professional skin care brand in the USA
L’Oréal, the world’s largest beauty company, announced today that it has signed
an agreement to acquire SkinCeuticals, a professional skin care company.
Founded in 1994 and headquartered in Dallas, Texas, SkinCeuticals, a privately
held company, is one of the largest and fastest growing brands in the
professional premium skin care market in the U.S. Through a strong and
specialized distribution network, the company sells to dermatologists, plastic
surgeons, and high end spas. SkinCeuticals sales in 2004 amounted to 35$M.
“The acquisition of SkinCeuticals allows L’Oréal to strengthen its position in
high-performance professional skin care,” said Lindsay Owen-Jones, Chairman and
CEO of L’Oréal. “This market, in which SkinCeuticals is a leading player, is a
particularly promising one with high international potential.”
“SkinCeuticals has already acquired an excellent reputation in the U.S.
dermatological world,” commented Jean-Paul Agon, President and CEO of L’Oréal
USA. “This acquisition will also allow L’Oréal to enter the strong and growing
market of high end spas in the U.S.”
“We are delighted to join forces with an organization that is not only the
world’s largest cosmetics company, but whose commitment and investment in
research and development is unsurpassed in the industry”, said Alden Pinnell,
co-founder of SkinCeuticals.
SkinCeuticals will be part of the Active Cosmetics Division of L’Oréal, which
has recently experienced strong growth. This acquisition further enhances an
already strong portfolio of brands of American origin, such as Ralph Lauren,
Redken, Maybelline, SoftSheen-Carson, Matrix and Kiehl’s.
The transaction will become final upon the customary closing conditions,
including antitrust clearance.
"This news release does not constitute an offer to sell, or a solicitation
of an offer to buy, L’Oréal shares. If you wish to obtain more comprehensive
information about L’Oréal, please refer to the public documents registered in
France with the Autorité des Marchés Financiers [which are also available in
English on their Internet site: www.loreal-finance.com]. This news release may
contain some forward-looking statements. Although the Company considers that
these statements are based on reasonable hypotheses at the date of publication
of this release, they are by their nature subject to risks and uncertainties which
could cause actual results to differ materially from those indicated or
projected in these statements."
Contacts at L'ORÉAL
Shareholders and Market Authorities
Mr Jean-Régis CAROF
Tel: +33.1.47.56.83.02
http://www.loreal-finance.com
Analysts and Institutional Investors
Mrs Caroline MILLOT
Tel: +33.1.47.56.86.82
Fax: +33.1.47.56.80.02
Journalists
Mr Mike RUMSBY
Tel: +33.1.47.56.76.71
http://www.loreal.com
For more information, please contact the bank, broker or financial institution
(I.S.I.N. code: FR0000120321), and consult the usual newspapers, and the
Internet site for shareholders and investors, http://www.loreal-finance.com, or
its mobile version on the PDA, at loreal-finance.com mobile edition;
alternatively, call +33.1.40.14.80.50.
From its beginnings, the L'Oréal Group has
developed activities in the field of cosmetics, and is the world leader in the
cosmetics industry.
The L'Oreal Group is also active in luxury goods and in the
dermatological and pharmaceutical fields
Research activities are focused on
three subjects: skin, hair and color.
In the depth of skin
L'Oreal searches for the most innovative ways of providing skin
with the elements essential to its equilibrium. Preserving the skin health,
preventing the chronological aging and photoaging due to UV rays, transport
active compounds in situ, …so many areas of L'Oreal research.
Here are some examples of means employed to achieve these objectives:
Human Skin Models: L'Oreal Research teams have developed these
three-dimensional cultures by introducing skin cell types such as
keratinocytes, melanocytes and Langerhans cells.
Vectorisation:
from liposomes to nanocapsules, these nanometric vectors improve the efficacy
of care products.
Skin imaging: L'Oreal has improved imaging techniques over the last 30 years to
enable the study of the skin and assess the effects of care products. Confocal
microscopy, ultrasonic imaging and Magnetic Resonance Imaging (MRI) are a few
of the methods used by L'Oreal.
A pioneer in the field of hair study
For
L'Oreal, hair is a real scientific adventure. Worldwide, its laboratories are
engaged in research on the subject. Whether Caucasian, African or Asian hair,
biologists are interested in the living follicle, while biophysicists and
chemists are concerned by the fiber. Several generations of researchers have
now gained unique scientific knowledge on hair and haircare products. Insight
into how the hair is constituted has resulted in the development of :
longer-lasting
hair color,
biomimetic
molecules such as certain ceramides which ensure hair surface cells cohesion,
softer
cleansing agents in shampoos and conditioners in the form of lacquer or gel
Studying the different intimate components of the hair follicle, by cultivating
hair in vitro, is one of the aims of "hair biology" teams.
Color
Working
at the cutting-edge of technology, L'Oreal Research is today investigating new
make-up effects such as transforming colors by "trompe l'œil" optic
phenomena.
In the field of haircolor, L'Oreal now uses an exclusive collection of 13,000
colorants.
Nature provides a valuable inspiration for finding new pigments using
biotechnology.
Manufacturing
Production Policy
With
42 plants worldwide, more than 14,000 employees in manufacturing sites and over
3,9 billion units produced, the industrial
organisation of L’Oréal is a dynamic contributor to the group's growth with a
key role in ensuring sustainable development.
Control of supply chain : raw materials are developed and patented by L'Oréal
Research, then analyzed and certified before utilization. Flexibility : new
facilities, innovative systems and "just-in-time" production.
L'Oréal industry : a culture of quality
Concern for the well-being of personnel and their safety.
Environmental conservation
The company has three
divisions such as:
v
L'Oreal Consumer Products
Division
v
L'Oreal Professional
Products Division
v
Active Cosmetics
Department
The Consumer Products
Division houses the 3 leading international signatures - L'Oreal Paris, Garnier
and Maybelline New York. This division
offers consumers high technology global brands, sold at competitive prices
through retail markets. It markets
large product categories of hair care, hair colourants, skincare and make-up.
In India, the consumer
division has been a pioneer in both products and merchandising by:
Launching the first ever
Garnier Synergie Anti Wrinkle Cream, Eye Contour Gel and L'Oreal Excellence
Hair Colour and the Maybelline Non Transfer Lipsticks.
The Professional Products
Division is the world leader in its market.
It offers a range of haircare and haircolour products used by
professional hairdressers and sold to consumers exclusively in salons.
The Active Cosmetics
Department develops dermo-cosmetic healthcare brands for sale through
pharmacies and specialist pharmacy outlets.
Pursuant to the provisions of
Section 43A (2A) of the Companies Act, 1956 and Companies (Amendment) Act,
2000, the status of the company has been changed to private limited company
with effect from 29th January, 2001.
The company has 5
International brands in the Hair Care, Hair Colour, Skin Care and Make Up
categories.
Company’s fixed assets of
important value includes plant & machinery, furniture & fixture,
vehicles, leasehold improvements and distribution rights.
Consumer Products
The Consumer Products Division is dedicated to offering
all consumers its high technology products at competitive prices through
mass-market retailing channels. The Division’s brands develop haircare,
skincare, make-up and perfume products that meet the aspirations of all of its
customers.
The Division's 5 international brands are L'Oréal Paris, Garnier, Maybelline
New York, Softsheen.Carson and Le Club des Créateurs de Beauté.
Professional Products
The Professional Products Division is at the service of
hairdressers worldwide. Their complementary brands meet the requirements of
salon professionals in colorants, hair care, texturing and styling formulas and
provide salon customers with a wide range of innovative, high-performance
products. The Professional Products Division of L’Oréal is made up of four
different brands: L'Oréal Professionnel, Kérastase, Redken 5th Avenue NYC and
Matrix.
Luxury Products
The prestigious brands of the Luxury
Products Division offer consumers top of the range products. Clients of
selective retail outlets (department stores, perfumeries, travel retail
outlets, and the brands own boutiques) receive personalized advice at the point
of sale, enabling them to choose the products best suited to their needs.
Lancôme, Helena Rubinstein, Biotherm, shu uemura and Kiehl’s offer premium
products known for their innovation, performance and quality. The Luxury
Products division houses also some of the world's top perfume brands: Giorgio
Armani, Ralph Lauren, Cacharel, Paloma Picasso and Guy Laroche.
Active Cosmetics
The Active Cosmetics Department designs and markets
dermo-cosmetic skin care products that are sold in pharmacies and specialist
retailers. These products offer consumers proven safety and effectiveness
supported by advice from pharmacists and dermatologists.
The Department’s three brands, Vichy, La Roche Posay and innéov, offer skin
care, sun care, hair care and make-up products.
CMT REPORT [Corruption, Money laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION
ON DESIGNATED PARTY
No 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
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.45.85 |
|
UK
Pound |
1 |
Rs.85.82 |
|
Euro |
1 |
Rs.58.62 |
RATING
|
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely
sound financial base with the strongest capability for timely payment of
interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate
working capital. No caution needed for credit transaction. It has above
average (strong) capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial &
operational base are regarded healthy. General unfavourable factors will not
cause fatal effect. Satisfactory capability for payment of interest and principal
sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are
apparent. Repayment of interest and principal sums in default or expected to
be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit not recommended |