MIRA
INFORM REPORT
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Report Date : |
09.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
CHAMPAGNE INDAGE
LIMITED |
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Registered Office : |
Indage House, 82,
Dr. Annie Besant Road, Worli, Mumbai – 400 018, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
01.10.1985 |
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Com. Reg. No.: |
11-37618 |
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CIN No.: [Company
Identification No.] |
U74999MH1985PLCO37618 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMC09686F |
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PAN No.: [Permanent
Account No.] |
AAAC11335D |
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Legal Form : |
Public Limited Liability Company. The
company’s shares are listed on the Stock Exchanges. |
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Line of Business : |
Manufacturers and
Marketers of Wines. |
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 3500000 |
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Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well
established company having satisfactory track. Financial position is good.
Payments are correct and as per commitments The company can
be considered good for any normal business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered Office/ F. D. Department : |
Indage House, 82,
Dr. Annie Besant Road, Worli, Mumbai – 400 018, Maharashtra, India |
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Tel. No.: |
91-22-24988167 /
24988168 / 24938718 / 24932298/ 56547932-37 |
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Fax No.: |
91-22-24930036 |
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E-Mail : |
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Website : |
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Administrative
Office : |
F. D. Department,
33-B, Krishnamai, Sir Pockhnamai, Sir Pochkhanwala Road, Worli, Mumbai - 400 030, Maharashtra, India |
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E-Mail : |
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Factory [Winery] : |
Village – Yedgam,
Post Narayangaon, Taluka – Junnar, District Pune – 410 504, Maharashtra,
India |
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Vineyards : |
D-107, T.T.C
Industrial Area, Shiravane Village, Navi Mumbai, Maharashtra, India D-42, T.T.C Industrial
Area, Turbhe Village, Navi Mumbai, Maharashtra, India Gharwala Estate,
Swami Vivekanand Road, Jogeshwari (West), Mumbai, Maharashtra, India F – 15, Nand Dham
Industrial Estate, Marol Maroshi Road, Andheri (East), Mumbai – 400 059,
Maharashtra, India Datta Colony,
2103-E, Pune Bangalore Road, Kolhapur – 416 003, Maharashtra, India 74, Bhosari Industrial Estate, Pune – 411 026, Maharashtra, India |
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Branches : |
Located at : Goa, Pune, New Delhi,
Kolkata, Secunderabad, Jaipur and Chandigarh |
DIRECTORS
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Name : |
Mr. S G Chougule |
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Designation : |
Chairman |
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Name : |
Mr. J B Dsouza |
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Designation : |
Vice Chairman |
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Name : |
Mr. G G Desai |
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Designation : |
Director |
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Name : |
Mr. A B Shah |
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Designation : |
Director |
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Name : |
Mr. H G Desai |
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Designation : |
Director |
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Name : |
Mr. R S Chougule |
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Designation : |
Managing Director |
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Name : |
Mr. S R Framjee |
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Designation : |
Director |
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Name : |
Mr. M N Chaini |
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Designation : |
Director |
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Name : |
Mr. Michael Willkomm |
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Designation : |
Director |
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Name : |
Mr. Le Saux Thierry |
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Designation : |
Director |
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Name : |
Mr. Antione Merlaut |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mr. Girish V. Kirkinde |
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Designation : |
Company Secretary |
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Audit Committee
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Name : |
Mr. G. G. Desai |
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Designation : |
Chairman |
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Name : |
Mr. J. B. D’Souza |
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Designation : |
Member |
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Name : |
Mr. H. G. Desai |
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Designation : |
Member |
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Name : |
Mr. S. R. Framjee |
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Designation : |
Member |
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Name : |
Mr. A. B. Shah |
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Designation : |
Member |
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Shareholders /
Investors Grievances Committee : |
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Name : |
Mr. S. G. Chougule |
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Designation : |
Chairman |
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Name : |
Mr. J. B. D’Souza |
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Designation : |
Member |
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Name : |
Mr. A. B. Shah |
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Designation : |
Member |
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Remuneration
Committee |
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Name : |
Mr. J. B. D’Souza |
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Designation : |
Chairman |
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Name : |
Mr. S. G. Chougule |
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Designation : |
Member |
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Name : |
Mr. G. G. Desai |
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Designation : |
Member |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and
Marketers of Wines |
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Products : |
Product Item
Code Sparking Wine 22041000 Still Red Wine 22042101 Still White Wine 22042102 |
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Exports : |
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Countries : |
U.K., Sweden, Switzerland,
Germany, Canada, Bhutan, Nepal, Sri Lanka, Mauritius, New Zealand, Japan and
U.S.A |
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Imports : |
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Countries : |
Germany, France,
Australia and Italy |
GENERAL
INFORMATION
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Suppliers : |
·
Crystal Collection,
Maker Tower, 42-1, Cuffe Parade, Mumbai – 400 005, India ·
Alert
Packaging House, 344, A-Z Industrial Estate, G. K. Marg, Lower Parel, Mumbai
– 400 013, India ·
Owen
Broakways India Limited, Thapar House, 124, Janpath, New Delhi – 110 001,
India ·
Vishal
Enterprises, 15, Satyam Industrial Estate, Subhas Road, Jogeshwari (East),
Mumbai – 400 060, India ·
More &
Lad Bros., At & Post Deorastre, Tal. Palus, Dist. Sangli – 410 303,
Maharashtra, India ·
Lucky
Printers, 40, Mehta Industrial Estate, Liberty Garden Cross Road, Malad
(West), Mumbai – 400 064, India ·
Quality
Products, 89, Mistry Industrial Estate, Cross Road MIDC, Andheri (East),
Mumbai – 400 093, India ·
Steel Art
Engineering Works, R-510, Rakale MIDC, TTC Industrial Area, New Mumbai – 400
701, India ·
Shree
Gobbindo Glass Works Limited, Ramrajantala Road, Post-Saniragachi, Howrah,
Calcutta – 711 104, West Bengal, India ·
Microlift
India Private Limited, 23, Vardhaman Complex, LBS Marg, Vikhroli (West),
Mumbai – 400 083, India |
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Customers : |
·
Hindustan
Petroleum Corporation Limited, Refinery Division, Mumbai ·
Hotel
Shalini Palace, Kolhapur, Maharashtra ·
Bharat
Petroleum Corporation, Limited, Mumbai ·
Jalna
Sahakari Sakhar Karkhana Limited, Jalna, Maharashtra ·
Mitsui
and Company, Mumbai ·
V.
S. C. and R. S. C. Private Trust, Mumbai ·
Mumbai
Electric Supply and Transport undertaking,
Mumbai ·
Niphad
Sahakari Sakhar Karkhana Private Limited, Niphad, Maharashtra ·
Champagne
India Limited, Narayangaon, Pune, Maharashtra ·
Shirpur
Sahakar Sakhar Karkhana Limited, Dhule, Maharashtra ·
Vighnahar
Sahakari Sakhar Karkhana Limited, Ambegaon, District - Pune, Maharashtra ·
Ajinkyatara
Sahakari Sakhar Karkhana Limited, Shahunagar, Satara, Maharashtra ·
Ahmedabad
Advance Mills Limited, Mumbai ·
Kirloskar
Pneumatics Company Limited, Pune, Maharashtra ·
City
Industrial Development Corporation of Maharashtra Limited, Mumbai ·
Concast
(India) Limited, Mumbai ·
The
Raymond Woollen Mills Limited, Thane, Maharashtra ·
Indian
Railway Construction Company Limited, New Delhi ·
Karamchand
Thaper and Brothers Limited, Calcutta, West Bengal ·
Qatar
Armed Forces: Government of Qatar, Arabian Gulf ·
The
Shriram Sahakari Sakhar Karkhana Limited, Babdeo, Nagpur, Maharashtra ·
Nippon
Engineering Industries, Maneck Nagar, Tumsar ·
Hyundai
Corporation, South Korea (I I L) Associated with Gammon India Limited, Mumbai ·
Champagne
Indage Limited, Winery ·
Bayer
(India) Limited, Thane, Maharashtra ·
Electronics
Corporation of India Limited, Hyderabad, Andhra Pradesh ·
Nhava
Sheva Port Authorities, Mumbai ·
Sandoz
India Limited, Thane, Maharashtra ·
Maharashtra
State Electricity Board, Thane, Maharashtra ·
Maharashtra
State Road Transport Corporation, Mumbai ·
Special
Steels Limited, Mumbai ·
Ar-Ex
Laboratories Private Limited ·
Air
India, Mumbai ·
Gujarat
Glass (Piramal Group), Division of Nicholas Laboratories (India) Limited,
Mumbai ·
Electro
Pneumatics and Hydraulics (I) Private Limited, Mumbai ·
Gaylord
Bakery, Mumbai ·
Balmer
Lawrie and Company Limited, Mumbai ·
Pradeep
Metals Private Limited, Thane, Maharashtra ·
Lupin
Agrochemicals India Limited, Mumbai ·
Madalsa
Agro Industries, Mumbai ·
Pidilite
Industries Limited, Mumbai ·
Balmer
Lawrie Van Leer Limited, Mumbai ·
Positive
Packaging Industries Private Limited, Mumbai ·
Accuprint
Systems Private Limited ·
Omni
Industrial Packaging Private Limited, Mumbai ·
The
Hong Kong and Shanghai Banking Corporation Limited, Mumbai |
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No. of Employees : |
300 |
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Bankers : |
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Financial Institution : |
Rabo India
Finance Private Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Sorab S. Engineer
& Company Chartered
Accountants |
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Address : |
Ismail Building,
381, Dr. D. N. Road, Fort, Mumbai – 400 001 |
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Subsidiaries : |
Indage Hotels
Limited |
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Associates : |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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15000000 |
Equity Shares |
Rs. 10/- each |
Rs. 150.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10317621 |
Equity Shares |
Rs. 10/- each |
Rs. 103.176 millions |
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Add : |
Equity Share Warrants |
Rs. 10/- each |
Rs. 14.725 millions |
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TOTAL |
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Rs. 117.901 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
117.901 |
69.651 |
66.700 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
776.427 |
243.880 |
218.800 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
894.328 |
313.531 |
285.500 |
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LOAN FUNDS |
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1] Secured Loans |
336.811 |
346.726 |
87.000 |
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2] Unsecured Loans |
123.025 |
164.331 |
161.800 |
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TOTAL BORROWING |
459.836 |
511.057 |
248.800 |
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DEFERRED TAX LIABILITIES |
25.891 |
19.070 |
0.000 |
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TOTAL |
1380.055 |
843.658 |
534.300 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
426.092 |
337.692 |
184.300 |
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Capital work-in-progress |
0.000 |
0.000 |
1.000 |
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INVESTMENT |
69.842 |
68.619 |
10.500 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
551.173
|
397.747 |
306.400 |
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Sundry Debtors |
391.287
|
100.918 |
76.800 |
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Cash & Bank Balances |
13.635
|
13.533 |
11.100 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
117.995
|
47.248 |
28.700 |
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Total
Current Assets |
1074.090
|
559.446 |
423.000 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities & Provisions |
189.969
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122.099 |
84.500 |
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Total
Current Liabilities |
189.969
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122.099 |
84.500 |
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Net Current Assets |
884.121
|
437.347 |
338.500 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1380.055 |
843.658 |
534.300 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
685.949 |
362.029 |
284.900 |
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Increase / [Decrease] in stock of Finished
Goods & Work in progress |
162.234 |
77.644 |
0.000 |
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Other Income |
9.932 |
3.026 |
0.000 |
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Total Income |
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284.900 |
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Profit/(Loss) Before Tax |
154.682 |
60.226 |
31.900 |
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Provision for Taxation |
46.713 |
5.307 |
2.500 |
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Profit/(Loss) After Tax |
107.969 |
54.919 |
29.400 |
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Earnings in Foreign Currency : |
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Export Earnings |
25.900 |
54.994 |
N.A. |
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Commission Earnings |
0.000 |
0.000 |
N.A. |
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Other Earnings |
0.000 |
0.000 |
N.A. |
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Total Earnings |
25.900 |
54.994 |
N.A. |
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Imports : |
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Raw Materials |
5.553 |
7.377 |
N.A. |
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Stores & Spares |
0.000 |
0.000 |
N.A. |
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Capital Goods |
22.107 |
22.203 |
N.A. |
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Others |
4.028 |
10.392 |
N.A. |
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Total Imports |
31.688 |
39.972 |
N.A. |
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Expenditures : |
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Cost of Goods Sold |
154.231 |
94.986 |
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Manufacturing Expenses |
114.773 |
68.971 |
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Administrative Expenses |
63.053 |
48.143 |
231.200 |
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Selling and Marketing Expenses |
223.460 |
56.285 |
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Sales Tax & Service Tax |
81.035 |
38.293 |
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Salaries, Wages, Bonus, etc. |
46.587 |
26.858 |
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Interest |
29.942 |
41.894 |
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Depreciation & Amortization |
10.350 |
7.040 |
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Total Expenditure |
723.431 |
382.470 |
231.200 |
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QUARTERLY RESULTS
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PARTICULARS |
30.06.2006 1st
Qtr. |
30.09.2006 2nd
Qtr. |
31.12.2006 3rd
Qtr. |
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Sales
Turnover |
116.800 |
219.400 |
412.100 |
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Other
Income |
3.200 |
0.900 |
1.700 |
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Total
Income |
120.000 |
220.300 |
413.800 |
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Total
Expenditure |
85.900 |
178.600 |
306.000 |
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Operating
Profit |
34.100 |
41.700 |
107.800 |
|
Interest |
14.300 |
2.100 |
12.600 |
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Gross
Profit |
19.800 |
39.600 |
95.200 |
|
Depreciation |
3.600 |
3.700 |
4.500 |
|
Tax |
1.700 |
6.300 |
12.700 |
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Reported
PAT |
13.600 |
28.400 |
73.500 |
Notes
200606 Quarter 1
Expenditure Includes (Increase) / Decrease in Stock of
WIP/FG Rs(18.044)million Consumption of Raw Materials Rs 22.072 million Staff Cost
Rs 16.534 million Other Expenditure Rs 65.384 million Tax includes Provision
for Current Tax Rs 1.347 million Fringe Benefit Tax Rs 0.380 million Deferred
Tax Rs 0.911 million EPS is Basic Status of Investor Complaints for the quarter
ended June 30, 2006 Complaints Pending at the beginning of the quarter Nil
Complaints Received during the quarter Nil Complaints disposed off during the
quarter Nil Complaints unresolved at the end of the quarter Nil 1. The activity
of the Company falls under single segment namely Production and Distribution of
Wines. 2. The figures of the Previous period, have been regrouped/reclassified
wherever necessary. 3. The Company allotted on April 11, 2006, 4,25,000 Equity
Shares of Rs 10/- each at a premium of Rs 73/-per Share aggregating to Rs
35.275 million on conversion of equivalent number of convertible equity share
warrants. 4. The Statutory Auditors have carried-out the Limited Review of the
above financial results for the quarter ended June 30, 2006. 5. The above
results were reviewed by the Audit Committee and taken on record by the Board
of Directors at its meeting held on July 28, 2006.
200609 Quarter 2
EPS is Basic & Diluted 1.The activity of the company
falls under single segment namely 'Production & Distribution of Wines'. 2.
The figures of the previous period have been regrouped / reclassified wherever
necessary. 3.Status of investor complaints: No of complaints lying unresolved
at the end of the quarter-NIL Complaints received-NIL Disposed off during the
quarter-NIL No of complaints lying unresolved at the end of the quarter-NIL
4.The company allotted on 22nd September 2006, 900000 Equity shares of Rs.10/-
each at premium of Rs.313/- aggregating to Rs. 290.7 millions on Preferential
Basis. 5. The above results are subject to limited review by the statutory
auditors of the company. 6. The above results were reviewed by the audit
committee and taken on record by the Board of Directors at its meeting held on
30.10.2006.
200612 Quarter 3
1. The activity of the Company falls under single segment
namely 'Production & Distribution of Wines'. 2. A. The Company has acquired
52.63% share holding in Seabuckthom Indage Limited (SIL), thus making SIL as
its subsidiary. 2. B. The Company has entered into an agreement to buy 100% of
a Wine business in South Australia with a Winery, capacity of 3 Million Cases
(27 Million Liters). The accounts will be consolidated upon completion of
acquisition. 3. The figures of the Previous period have been regrouped/reclassified
wherever necessary. 4. Status of investor complaints: Nos. of complaints lying
unresolved at the commencement of the Quarter-Nil. No. of complaints received
during the quarter-Nil and No. of complaints lying unresolved at the end of the
quarter- Nil. 5. The Statutory Auditors have carried out a Limited Review of
the above financial Results for the quarter ended 31st December
2006. 6. The above results were reviewed by Audit Committee and taken on record
at the meeting of Board of Directors held on 31st January, 2007.
KEY RATIOS
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Debt-Equity Ratio |
0.82 |
1.27 |
0.81 |
|
Long Term Debt-Equity Ratio |
0.09 |
0.13 |
0.06 |
|
Current Ratio |
1.32 |
1.08 |
1.38 |
|
TURNOVER RATIOS |
|
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|
Fixed Assets |
1.74 |
1.24 |
1.26 |
|
Inventory |
1.53 |
1.06 |
0.87 |
|
Debtors |
2.95 |
4.22 |
3.93 |
|
Interest Cover Ratio |
3.70 |
2.35 |
3.16 |
|
Operating Profit Margin(%) |
30.61 |
29.79 |
22.87 |
|
Profit Before Interest And Tax Margin(%) |
29.18 |
27.93 |
20.91 |
|
Cash Profit Margin(%) |
16.30 |
16.51 |
15.16 |
|
Adjusted Net Profit Margin(%) |
14.87 |
14.64 |
13.19 |
|
Return On Capital Employed(%) |
19.61 |
15.44 |
10.74 |
|
Return On Net Worth(%) |
18.15 |
18.42 |
12.21 |
STOCK PRICES
|
Face Value |
Rs.10/- each |
|
High |
Rs.645.90/- |
|
Low |
Rs.633.30/- |
LOCAL AGENCY
FURTHER INFORMATION
HISTORY
:
The company was
originally incorporated under the name & style of Indage India Limited. The name of the company was subsequently changed
to present w.e.f. 20th June, 1998.
The company is a
Pioneer of French-Style wines in India.
The company
produces a variety of exquisite still and sparkling wines. These wines have
been marketed in India and abroad with dramatic success.
Subject exports delectable wines.
PERFORMANCE
They are delighted that the year 2005-06 was a year of excellent growth
momentum for Champagne Indage Limited (CIL). Gross sales rose 89.47% to an all-time
record level over the previous year. The profit for the year before tax was Rs.
154.68 million as against Rs. 60.23 million in the previous year registering an
increase of approximately 157%. The Profit after tax for the year was Rs.
107.97 million as against Rs. 54.92 million in the previous year recording an
increase of about 96%.
AWARDS & ACCLAIM
The company is the market leader and the largest producer of wines in India
with 32 principal brands under its fold. CIL's excellence has received
worldwide acknowledgement and acclaim in the form of numerous awards and
honours. In the year 2005 the Company received the following awards :-
At The International Wine & Spirit Competition 2005 held in London
|
Product
name |
Nature
of award/acclaim |
|
Chantilli Cabernet Sauvignon 2004 |
Bronze medal |
|
Chantilli Chardonnay 2004 |
Bronze medal |
|
Ivy Merlot 2003 |
Bronze medal |
|
Ivy Brut NV |
Bronze medal |
At the Decanter World Wine Awards 2005 held in London
|
Product
name |
Nature
of award/acclaim |
|
Ivy Chenin Blanc |
Commended |
|
Ivy Merlot |
Commended |
At the Wine Style Asia award 2005 held in Singapore
|
Product
name |
Nature
of award/acclaim |
|
Ivy Brut Chardonnay |
Awarded Merit |
|
Ivy Chenin Muscat 2004 |
Awarded Merit |
FUTURE PROSPECTS
The taste of the middle class segment is enhancing with newer and younger
generation getting attracted to wine consumption. The products of the company
have an affordable price range for this new class. This is a healthy sign which
would boost the company's sales and to meet this trend the company has extended
its distribution network at various places in India. The company will also
bolster its production facilities in various new States within India to
maximize economies of scale, effective logistics and local taxation sops
offered by various State Governments. The International market is also
expanding with greater acceptance for the Company's wines.
CIL's growth strategy includes an emphasis on innovation in everything the
Company does, from new products to global distribution, from effective
advertising and promotion to valuable joint ventures. This approach has led to
continuous strengthening of brand leadership positions and market shares in key
product categories. The Company is firmly committed to its proven focused
business strategy which gives priority to high-margin and fast-growing
businesses. The Company continues to invest to build priority businesses in key
consumer markets in India and around the world including the U.S.A, Singapore,
U.K., Switzerland, Germany and other European Countries.
With this sharp focus on strategic priorities, the benefits from business
plans, Company's dedication to effectiveness and efficiency in everything it
does, will continue to aggressively support leading brands worldwide and
maintain Company's current growth momentum to continue. Barring unforeseen
events, the Board of Directors is confident that the Company's performance
would be further improved during the year 2006-07.
The company’s fixed assets of important value include Land, Building,
Plant & Machinery, Office & Factory Equipments and Electrical
Installations.
AS PER WEBSITE
Champagne Indage to unveil resto-bars
Sudha
Menon
PUNE,
Jan. 31
SPARKLING
wine people Champagne Indage Ltd are all set to add some high spirits to
nightlife in Bangalore and Delhi.
Party
animals in these cities can look forward to some excitement with Indage Hotels,
the company that looks after the group's food and beverages business now all
set to take its trendy restaurant and lounge bar, Athena, to these
destinations.
The
company has also pulled off a minor industry coup, roping in London
restaurateur Robert Newmark who runs the well-known Beach, Blanket, Babylon
restaurant chains, to take the resto-bar, which spawned half a dozen
look-alikes from competitors in Mumbai city alone, to London city. Athena is
also set to make a splash in London city's party circuit when it opens this
summer in the upmarket Picadilly Circus, the Chief Operating Officer, Mr
Vikrant Chougule, told Business Line.
"The
way Athena has developed, it can fit comfortably into the party circuit in any
part of the world," Mr Chougule said. Athena, incidentally, was started by
the Indage group as a chic spot where Mumbai city's bold, beautiful and the
plain well-heeled could get together to partake of some of the world's best
wine brands.
Athena
at London will be a 1,35,000 sq. ft. property which will, by all indications,
include a menu comprising the best of Indian and world cuisine and a fairly
large watering hole for London's famed week-end revellers.
Bangloreans
who have tired of their ususal pubbing scenes and watering holes can look
forward to heading towards a new hangout in March when the Athena opens. While
details are not available about the way the Athena theme will be interpreted
for party-goers in the city, Mr Chougule says the 9,000 sq. ft. Bangalore
outlet will feature its plush Buddha lounge bar and replicate the food and
beverages outlet to the extent possible.
Indage
Hotels is also scouting for a place to kick off operations in Delhi and sources
maintain that the company is negotiating with at least three five-star hotel
properties including the Radisson, as the venue for the Athena. "They hope
to tie up a location in Delhi by May," Mr Chougule said.
Meanwhile,
the company is right now gearing up for the debut of its second F&B outlet
in Mumbai, this time in the suburbs. Mr Chougule said the company would
inaugurate a 10,000 sq. ft., contemporary beach-front resto-pub on the Juhu sea
face by April this year. "It will be an outdoor kind of lively pub with
lots of live cooking, contemporary cuisine and good wines," Mr Chougule
said.
Champagne
Indage plans image makeover
Sunday, 18 September , 2005, 12:00
Mumbai: What really motivates people in India to
consume alcohol... is it a tool for socialization or is it a sure-fire way of
getting high? An overwhelming majority, as per consumer studies conducted by
Champagne Indage Limited, the largest producer of wine in India, suggested it
was the latter.
Champagne Indage had
its task pretty much cut out. With a basket of wines - red, white and the
sparkling variety - the company was hard pressed to find a formula to take wine
to the Indian masses, given the perception that one does not get high with
wine. Added to that was the elitist image that goes with wines such as
champagne and the "costly drink perception'.
"That is till
they hit upon the idea of giving an apple-to-apple comparison on the price vs
alcohol front. They decided to come out with red, white and sparkling wine at
below Rs 100 and launched Vino at Rs 92 and a four per cent sales tax for 750
ml. With 12.5 per cent alcohol content, this compared favourably against some
of India's semi-premium whiskies at Rs 190 and a 20 per cent sales tax,"
Ranjit Chougule, Managing Director, Champagne Indage Limited, told Business
Line.
Simultaneously,
Champagne Indage is building its case against beer, with the popular strong
beer, with eight per cent alcohol content, costing Rs 55 per 650 ml. Against
this, the company has positioned the 500-ml Vino bottles at Rs 48. If stress is
also on wine being a healthier drink, minus the potbelly in case of beer.
"It is a multi-pronged
strategy with wine being made available in PET bottles for the first time and
more significantly, the cork giving way to screwed on caps. It is a fallacy
that corks allow the wine to `breathe'. World over, many wineries are turning
to screw caps, including some of the most expensive wines from the French
majors," Chougule said.
The company will
follow up Vino with an even lower priced wine, Hammer, in less than a month. A
port wine, Hammer, will have an alcohol content of 18 per cent and will be
priced at Rs 75.
Hammer, too will
come in red, white and sparkling versions. Though port wine, normally, does not
have the sparkling version, Hammer will have sparkling wine, that too in red,
quite popular in Australia.
Champagne Indage,
that had a sales of Rs 375 millions in the last fiscal, is looking to top Rs
800 millions this year with incremental growth coming from fresh products and
extended varieties of existing 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.44.22 |
|
UK Pound |
1 |
Rs.85.51 |
|
Euro |
1 |
Rs.58.03 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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 |
|