MIRA
INFORM REPORT
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Report Date : |
06.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
ANCHOR HEALTH AND BEAUTY CARE PRIVATE LIMITED |
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Registered Office : |
Plot No G –9, Basushree Building, ‘A’ Cross Road,
MIDC, Marol, Andheri [East], Mumbai – 400093, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
12.10.1992 |
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Com. Reg. No.: |
11-68971 |
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CIN No.: [Company
Identification No.] |
U24249MH1992PTC068971 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA11215B |
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Legal Form : |
Private limited liability company. |
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Line of Business : |
Manufacturing, Buying, Selling, Importing, Exporting,
Distributing and otherwise dealing in all kinds and varieties of cosmetics,
non-prescribed drugs, healthcare products, food representatives and
additives, fast food, artificial flavourings, beauty and skin care products,
perfumes, food supplements, health aids, glamour products, tooth products,
birth control medicines and device and lubricants. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
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
2750000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
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Comments : |
Subject
is a well-established and reputed company having satisfactory track.
Directors are reported as experience and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are usually
correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
|
Registered Office : |
Plot No G –9, Basushree Building, ‘A’ Cross Road,
MIDC, Marol, Andheri [East], Mumbai – 400093, Maharashtra, India |
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Tel. No.: |
91-22-265311136 / 28373916 / 3921 / 4109 / 56938693 |
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Fax No.: |
91-22-28203140 / 56938673 |
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E-Mail : |
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Head
Office : |
5,
Sunbeam Chamber, 2nd Floor, New Marine Lines, Mumbai – 400020, Maharashtra, India |
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Tel.
No.: |
91-22-32556340 |
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Fax
No.: |
91-22-22069056 |
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Corporate
Office : |
Krishna Chamber, 3rd Floor, 59, New Marine Lines,
Mumbai – 400020, Maharashtra, India |
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Tel.
No.: |
91-22-22626661 |
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Factory
1 : |
Plot No. 22 to 26, Panchal Udyog Nagar, Bhimpore,
Nani Daman – 396210, Union Territory of Dadra and Nagar Haveli |
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Factory
2 : |
Survey No. 181/2, Panchal Udyog Nagar, Bhimpore,
Nani Daman – 396210, Union Territory of Dadra and Nagar Haveli |
DIRECTORS
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Name : |
Mr. Sanjay Damji Shah |
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Designation : |
Director |
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Address : |
304, Tehni Heights, Petit Hall, 66, Nepeansea Road, Mumbai – 400
036, Maharashtra, India |
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Date of Birth/Age : |
07.02.2000 |
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Date of Appointment : |
15.01.1967 |
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Name : |
Mr. Jadavji Lalji Shah |
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Designation : |
Director |
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Address : |
25/2, Mont Blanc, Dady Set Hill, August Kranti Marg, Mumbai –
400 036, Maharashtra, India |
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Date of Birth/Age : |
09.05.1939 |
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Date of Appointment : |
04.11.2004 |
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Name : |
Ms. Shachi Nandlal Adalja |
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Designation : |
Director |
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Address : |
33, Megh Tower, Opposite Royal
Challange Film, City Road, Goregaon, Mumbai – 400063, Maharashtra, India |
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Date of Birth/Age : |
04.08.1935 |
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Date of Appointment : |
01.07.2000 |
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Date of Ceasing : |
06.12.2004 |
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Name : |
Mr.
Pankaj T. Desai |
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Designation : |
Director
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Address : |
201/202,
Atlana Apartments, Cross Lane No. 5, Dilip Nagar, Nani Daman – 396210 |
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Date of Birth/Age : |
12.11.1963 |
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Date of Appointment : |
01.09.2005 |
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Name
: |
Mr. Ravidra Kanji Myatra |
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Designation
: |
Director |
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Address
: |
1/D, Kiran Co-operative Housing Society, Gujan Road, GIDC,
Residential Area, Vapi – 396 195, Gujarat, India |
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Date
of Appointment : |
01.06.2002 |
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Name
: |
Mr. Damji Lalji Shah |
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Designation
: |
Director |
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Address
: |
304, Tehni Heights, Petit Hall, 66, Nepeansea Road, Mumbai – 400
006, Maharashtra, India |
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Date
of Birth/Age : |
25.09.1937 |
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Date
of Appointment : |
01.07.2000 |
KEY EXECUTIVES
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Name
: |
Mr.
Rajesh Karani |
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Designation
: |
Export
Manager |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
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No. of Shares |
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Mr. Sanjay D. Shah |
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179208 |
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Mr. Jadavji L. Shah |
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3253 |
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Mr. Mehul J. Shah |
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211732 |
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Mr. Damji L. Shah |
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2602 |
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Mrs. Heena S. Shah |
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712276 |
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Ms. Julie M. Shah |
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679752 |
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Ms. Usha A. Shah |
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975720 |
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Mr. Hemang J. Shah |
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975720 |
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Park Royal Enterprises Limited, Mauritius |
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931800 |
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4672063 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing, Buying, Selling, Importing, Exporting,
Distributing and otherwise dealing in all kinds and varieties of cosmetics,
non-prescribed drugs, healthcare products, food representatives and
additives, fast food, artificial flavourings, beauty and skin care products,
perfumes, food supplements, health aids, glamour products, tooth products,
birth control medicines and device and lubricants. |
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Products : |
·
Tooth Brush ·
Tooth Paste ·
Shampoo ·
Cream ·
Confectionery |
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Brand Names : |
“ANCHOR” |
GENERAL
INFORMATION
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No. of Employees : |
800 |
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Bankers : |
Ø
Bank of India, Malad [West] Branch, S. V. Road, P. B. No. 7603,
Malad [West], Mumbai - 400064 Ø
Dena Bank Ø
Citi Bank Ø
Tamilnadu Mercantile Co-operative Bank Limited |
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Banking Relations : |
Satisfactory
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Auditors : |
N. B. Purohit and Company Chartered Accountants, 3-B/2, Court Chambers, 35, Ner Marine Lines, Mumbai – 400020,
Maharashtra, India |
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Associates/Subsidiaries : |
CIN No. : U70100MH1992PTC070098 |
CAPITAL STRUCTURE
Authorised
Capital :
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No.
of Shares |
Type |
Value |
Amount |
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11000000 |
Equity Shares |
Rs. 10/- each |
Rs. 110.000 millions |
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Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
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4672063 |
Equity Shares |
Rs. 10/- each |
Rs. 46.721millions |
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FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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46.721 |
46.721 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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688.094 |
579.514 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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734.815 |
626.235 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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172.557 |
357.074 |
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TOTAL BORROWING |
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172.557 |
357.074 |
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DEFERRED TAX LIABILITIES |
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3.447 |
7.151 |
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TOTAL |
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910.819 |
990.460 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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196.823 |
139.616 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.100 |
4.962 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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207.916 |
196.634 |
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Sundry Debtors |
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206.239 |
101.942 |
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Cash & Bank Balances |
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120.621 |
83.734 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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514.937 |
628.156 |
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Total Current Assets |
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1049.713 |
1010.466 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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314.545 |
152.226 |
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Provisions |
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21.272 |
12.359 |
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Total Current Liabilities |
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335.817 |
164.585 |
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Net Current Assets |
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713.896 |
845.881 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.001 |
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TOTAL |
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910.819 |
990.460 |
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KEY
RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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0.69 |
0.83 |
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Current
Ratio (Current
Asset/Current Liability) |
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3.13 |
6.14 |
LOCAL AGENCY
FURTHER INFORMATION
The company continued its emphasis on products quality and value for
money, dealers and consumer friendly approach, maximum market reach, strong
logistic controls has built up a strong brand image of its brand ‘Anchor’. The company with strong brand image has
continued to penetrate in health products market with strong distribution
networks of dealers, retailers and logistics.
The company has continued to launched advertising companies on T.V. and
other media which has continued to substantially in increasing sales volume of
the company.
The company has commenced the production of Tooth Paste and Tooth
Brush at its Unit No. II at Daman.
The company’s fixed assets of important value include freehold
land, shed building, plant and machinery, furniture, cartooning machine,
computer, vehicles and mould.
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Name of the company |
Anchor Health & Beauty
Care Private Limited |
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Presented By |
Bank of India, Malad [West]
Branch, Mumbai – 400064 and Anchor Health & Beauty Care Private Limited |
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1) Date and description of instrument creating the change |
23.01.2004 Agreement
of hypothecation of plant and machinery, stocks and book debts |
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2) Amount secured by the charge/amount owing on the securities of charge |
Term
loan of Rs. 250.000 Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
First
charge by way of hypothecation of All
tangible movable machineries and plant both present and future whether
installed or not and whether lying loose or in case at site or in transit
short particulars of which are disclosed in Part A of the schedule II of t he
attached copy of the agreement 1
Blister Packing Machine, 13 Filing Machines, 7 Paste Mixers, 1 Pouch Pacing
Machine, 1 Power Cumdeying Machine, 4 Tooth brush Filing Machine, 2 Tooth
Brush or which may at any time during the continuance of this security being
installed or lying loose or in case or being in or upon or about the
borrowers godowns at Nani Daman or wherever else the same may be or be held
by any party anywhere to the order and disposition of the borrower or in the
course of transit to the borrower. All
tangible movable properties and assets of whatsoever nature of the borrower
and including out without prejudice to the generality of the foregoing all
stocks of raw materials such as and finished goods and semi finished goods,
spare parts, components and stocks in process of the borrower whosesoever
situate at Nani Daman a short particulars of
whereof are described in part B of schedule II of the attached copy of
the agreement an or in transit now belonging to or that may at any time
during the continuance of its security belong to the borrower to that may be
held by any party to the order and disposition of the borrower All
the present and future book debts, outstanding, money receivables, claims,
bills which are now at any time hereafter during the continuance of its
security belong to the borrower in the course of his business by any person,
firm, company or body corporate or by the Central Government or any State
government or any State Government or any Government Department or office or
any Municipal or local or public or semi –government body or authority or any
body corporate or undertaking or project whatsoever. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest
: 400
bps over 6 months LIBOR Monthly rests Repayment
: 12
quarterly instalments after 15 months moratorium period. 1st
instalment due April 2005, 02.07.2005, 03.10.2005 and so on |
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5) Name and Address and description of the person entitled to the charge. |
Bank of India, Malad [West] Branch, S. V. Road, P. B. No. 7603,
Malad [West], Mumbai - 400064 |
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6) Date and brief description of instrument modifying the charge |
NA |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
NA |
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.44.09 |
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UK
Pound |
1 |
Rs.86.84 |
|
Euro |
1 |
Rs.57.21 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
51 |
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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit
history (10%) Market
trend (10%) Operational
size (10%)
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 |
|