MIRA
INFORM REPORT
|
Report Date : |
15.11.2006 |
IDENTIFICATION
DETAILS
|
Name : |
KIMBERLY
CLARK LEVER PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Gat No. 934-937, Village Sansawadi, Taluka Shirur, District Pune – 412
208, Maharashtra, India |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.12.2003 |
|
|
|
|
Date of Incorporation : |
20.09.1994 |
|
|
|
|
Com. Reg. No.: |
11-81290 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74999MH1994PTC081290 |
|
|
|
|
Legal Form : |
Private
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturers, Dealers, Distributors, Importers and Exporters of
product of Paper Pulp, Tissue & any Synthetic Material including Disposable
Baby Diapers, Feminine Sanitary Protecting Products and other Personal Health
Care & Hygiene Products & Equipments, Raw Products in accordance with
the joint venture agreement to be entered into from to time between Hindustan
Lever Limited and Kimberly Clark Corporation, USA. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry
similar weight in credit consideration. Capability to overcome financial
difficulties seems comparatively below average/normal. |
Small |
|
Maximum Credit Limit : |
|
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a 50 : 50 Joint Venture of Hinduatan Lever Limited and
Kimberly-Clark Corporation, U.S.A. The company can be considered good for any normal business dealings.
At usual trade terms and conditions. We have
taken up the matter with Mr. Shankar, Chief Accountant and Mr. Tanmay Agurwal
(Commercial Manager) when Mr. B M Shetty is absent They
assured to up –date out old report |
LOCATIONS
|
Registered Office/Factory : |
Gat No. 934-937, Village Sansawadi, Taluka Shirur, District Pune – 412
208, Maharashtra, India |
|
Tel. No.: |
91-2137-252546/45/252156 |
|
Fax No.: |
91-2137-252533 |
|
|
|
|
Corporate
Office : |
165/166 Backbay Reclamation, Churchgate, Mumbai – 400 020 |
|
Tel.
No.: |
91-22-22876222 |
|
Fax
No.: |
91-22-22041920/3117 |
DIRECTORS
|
Name : |
Mr.
Rajeev Somdutt Mohan |
|
Designation : |
Managing Director |
|
Address : |
Bunglow No. 25, Samrat Society, Kalyani
Nagar, Pune – 411 014, Maharashtra |
|
Date of Birth/Age : |
09.05.1954 |
|
Date of Appointment : |
02.11.1998 |
|
|
|
|
Name : |
Mr. Manvinder H. Banga |
|
Designation : |
Director |
|
Address : |
B3, Purshottam Bhavan, Little Gibbs Road,
Malabar Hill, Mumbai – 400 006, Maharashtra |
|
Date of Birth/Age : |
31.10.1954 |
|
Date of Appointment : |
17.04.2000 |
|
|
|
|
Name : |
Mr. Arun Seetham Adhikari |
|
Designation : |
Director |
|
Address : |
3 Rockdale Napean Road, Malabar Hill,
Mumbai – 400 006, Maharashtra |
|
Date of Birth/Age : |
20.01.1954 |
|
Date of Appointment : |
17.04.2000 |
|
|
|
|
Name : |
Mr. Shrikant Bhalchandra |
|
Designation : |
Director |
|
Address : |
63
Next to Y B Chavan, Auditorium, Mumbai – 400021 |
|
Date of Birth/Age : |
06.09.1961 |
|
Date of Appointment : |
16.04.2001 |
|
|
|
|
Name : |
Mr. Jones Robert Wayne |
|
Designation : |
Director |
|
Address : |
C/o Kimberly Clark Lever Corporation,
Sydney, Australia |
|
Date of Birth/Age : |
05.04.1954 |
|
Date of Appointment : |
17.02.2004 |
|
Name
: |
Mr. Bennett Clifton Peter |
|
Designation
: |
Director |
|
Address
: |
C/o. Kimberly Clark Lever Corporation,
Sydney, Australia |
|
Date
of Birth/Age : |
30.06.1951 |
|
Date
of Appointment : |
17.02.2004 |
|
|
|
|
Name
: |
Mrs.
Prajateta A Lele |
|
Designation
: |
Company
Secretary |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
|
Kimberly Clark Corporation Limited |
36249997 |
|
Hindustan Lever Limited |
36249996 |
|
Mr. Mahendrakumar Sharma Joint with Mr. Chandras Sharma |
1 |
|
Mr. V. K.
Vishwanathan Joint with S. Vegulaparanam |
1 |
|
Agarwal Omprakash Joint with Agarwal S. N. |
1 |
|
Gupta S. M. Joint with Hindustan Lever Limited |
1 |
|
Mr. Apte Psuhas Joint with Mr. Larkin John S. R. |
1 |
|
M/s.
Brown Thomas |
1 |
|
M/s. Brown
Thomas |
1 |
|
Total
|
72500000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers, Dealers, Distributors, Importers and Exporters of
product of Paper Pulp, Tissue & any Synthetic Material including Disposable
Baby Diapers, Feminine Sanitary Protecting Products and other Personal Health
Care & Hygiene Products & Equipments, Raw Products in accordance with
the joint venture agreement to be entered into from to time between Hindustan
Lever Limited and Kimberly Clark Corporation, USA. |
|
|
|
|
Products : |
v
Napkin and Napkin Liners for Babies v
Sanitary Towels |
PRODUCTION
STATUS
|
Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
Actual Production |
|
Disposable
Diapers |
Nos. |
162000000 |
111000000 |
53582060 |
GENERAL
INFORMATION
|
No. of Employees : |
548 |
|
|
|
|
Bankers : |
State Bank of India , Pune, Maharashtra |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking Relations : |
Good |
|
|
|
|
Auditors : |
N. M. Raiji & Company Chartered Accountants |
|
Address: |
Universal Insurance Building, Pherozeshah Mehta Road, Mumbai - 400 001 |
|
Tel. No.: |
91-22-22870068/22873463/22837482 |
|
Mobile No.: |
|
|
Fax No.: |
91-22-22828646/22650578 |
|
E-Mail : |
|
|
|
|
|
Associates/Subsidiaries : |
Ř
Kimberly Clark Corporation 351, Phelps Drive, Irving, Texas, USA Subject is a leading global consumer products
company. It is home to some of the world’s most trusted and recognized
brands, including Kleenexa, Scotta, Huggiesa, Pull-Upsa, Kotexa and Dependa.
The concern has more than two decades of experience in infant care with
market leadership in India, USA, Canada and Australia to name a few. Ř
Hindustan Lever Limited 165-166, Backbay Reclamation, Mumbai – 400
020, Maharashtra Ř
Personal Hygiene & Health Care Products Private Limited Ř
Feminine Hygiene Products Private Limited |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
80,000,000 |
Equity Shares |
Rs.10/- each |
Rs.800.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
72,500,000 |
Equity Shares |
Rs.10/- each |
Rs.725.000 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.12.2003 |
31.12.2002 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
725.000 |
725.000 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
(172.078) |
(322.857) |
|
|
NETWORTH |
|
552.922 |
402.143 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
66.405 |
65.446 |
|
|
|
|
|
|
|
|
TOTAL |
|
619.327 |
467.589 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
274.974 |
290.075 |
|
|
Capital work-in-progress |
|
0.552 |
2.567 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
2.400 |
2.400 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
50.072 |
43.011 |
|
|
Sundry Debtors |
|
1.891 |
30.649 |
|
|
Cash & Bank Balances |
|
574.536 |
337.376 |
|
|
Other Current Assets |
|
27.385 |
14.295 |
|
|
Loans & Advances |
|
27.274 |
28.082 |
|
Total Current Assets |
|
681.158 |
453.413 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
320.119 |
274.183 |
|
|
Provisions |
|
19.893 |
7.193 |
|
Total Current Liabilities |
|
340.012 |
281.376 |
|
|
Net Current Assets |
|
341.146 |
172.037 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.255 |
0.510 |
|
|
|
|
|
|
|
|
TOTAL |
|
619.327 |
467.589 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.12.2003 |
31.12.2002 |
|
Sales Turnover [including other
income] |
|
714.279 |
622.403 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
|
164.439 |
116.114 |
|
Provision
for Taxation |
|
14.261 |
10.380 |
|
Profit/(Loss)
After Tax |
|
150.780 |
105.734 |
|
|
|
|
|
|
Export Value |
|
0.300 |
0.500 |
|
|
|
|
|
|
Import
Value |
|
148.699 |
116.155 |
|
|
|
|
|
|
Total
Expenditure |
|
695.875 |
603.976 |
KEY
RATIOS
|
PARTICULARS |
|
|
31.12.2003 |
31.12.2002 |
|
PAT / Total Income |
(%) |
|
21.10 |
16.98 |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
|
23.02 |
18.65 |
|
|
|
|
|
|
|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
|
17.19 |
15.61 |
|
|
|
|
|
|
|
Return
on Investment (ROI) (PBT/Networth) |
|
|
0.29 |
0.28 |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
|
0.61 |
0.69 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
|
2.00 |
1.61 |
LOCAL AGENCY
FURTHER INFORMATION
BUSINESS
Subject is engaged in the business as manufacturers, dealers,
distributors, importers and exporters of product of Paper Pulp, Tissue &
any Synthetic Material including Disposable Baby Diapers, Feminine Sanitary
Protecting Products and other Personal Health Care & Hygiene Products &
Equipments, Raw Products in accordance with the joint venture agreement to be
entered into from to time between Hindustan Lever Limited and Kimberly Clark
Corporation, USA.
Subject is a Joint Venture between Kimberly-Clark Corporation, U.S.A.
and Hindustan Lever Limited, Mumbai and has brought global brands Huggies and
Kotex to the Indian consumer. The company entered the disposable diaper market
in India in 1995. It is the market dealer in Huggies diapers. The company was a
pioneer in developing and introducing Huggiesa Nappi-Pads, an insert pad for
cloth nappies in the Indian market.
The Joint Venture introduced `Huggies' brand of diapers which has been
well received by consumers and has already gained a significant share of this
small but fast growing market. The next product entry will be in the Feminine
Hygiene Care market with the world-renowned "Kotex" brand.
Raw materials & components required to manufacture the said
products, in accordance with the joint venture agreement to be entered into
from time to time between Hindustan Lever Limited and Kimberly-Clark
Corporation, U.S.A.
press
clipping
Kotex
Leak Guard Launched
29th
December, 2003
Mumbai :
Kimberly Clark Lever Private Limited, a joint venture company between Kimberly-Clark
Corporation, USA and Hindustan Lever Limited has, launched new Kotex Leak Guard
with a longer, wider and smarter leak-lock system with more absorption at the
centre of the pad, which prevents staining.
Kotex Leak Guard has new features such as special perforations on the
top cover of the pad, which help draw in more liquid easily to the layers
below. There are also longer and wider ‘cloud-shaped’ channels, which help
utilise a larger surface area on the pad, thus keeping the surface of the pad
drier and more comfortable.
The presence of a softer, non-woven ‘cotton-like’ cover helps in
preventing rashes. Also a rounded shape of the pad makes for a better fit and
adhesive strips keep the pad firmly in place. The new packs are available at Rs.
20/- for a pack of eight and Rs. 48/- for a pack of 20, making it one of the
most economical and best performing pads available in the market today.
Says Mr. Rajeev Mohan, managing director, Kimberly-Clark Lever : “The
new Kotex Leak Guard not only absorbs more but also lasts longer. Thus, the
consumer gets a superior performing pad and high convenience at a highly
affordable price”.
Note :-
The
company’s registered office at Amrut Chambers, 2nd Floor, 1216/7
Shivaji Nagar, F. C. Road, Pune – 411 004, Maharashtra has been shifted to the
above address.
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 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.45.01 |
|
UK
Pound |
1 |
Rs.84.91 |
|
Euro |
1 |
Rs.57.48 |
RATING EXPLANATIONS
|
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|