MIRA
INFORM REPORT
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Report Date : |
31.10.2007 |
IDENTIFICATION
DETAILS
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Name : |
LOREAL 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 |
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Country : |
India |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
19.02.1991 |
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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 |
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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 4300000 |
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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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Administrative Office: |
2nd Floor,
Peninsula Park , Ganpatrao Kadam Marg, lower parel, Mumbai – 400 013,
Maharashtra |
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Tel. No.: |
91-22 - 24983000 |
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Fax No.: |
91-22-24953798 |
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E Mail: |
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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) |
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Designation |
Managing Director |
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Address |
Malabar Court, 3rd
Floor, 14, BG Kher Marg, Mumbai – 400026, Maharashtra, India |
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Date of Birth
: |
23.06.1964 |
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Date of
Appointment |
08-06-2001 |
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DIN / PAN No.
: |
00502625 |
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Name |
Mr. Dinesh Dayal |
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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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Date of
Ceasing |
30.05.2005 |
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Name |
Mr. Evard Alain
(Foreign) |
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Designation |
Chairman cum
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 |
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Name |
Mr. Laurent Henri
Schmitt |
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Designation |
Director |
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Address |
11 BD, Du
General, Koenig, Neuilly – 92200 |
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Date of
Appointment: |
30.05.2005 |
KEY EXECUTIVES
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Name : |
Mr. Padmalochan
Mishra |
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Designation : |
Secretary |
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Address : |
EMP 1 / 403
Sector –I, moon Co –op-housing society, Thakur Village, Kandivali (East),
Mumbai – 400 001 |
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Date of Appointment : |
01.02.2003 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names
of Shareholders |
No. of Shares |
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Mr. Loreal SA Body
Corporate |
229500050 |
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Laboratories
Garnier (ET CIE) |
50 |
Equity Shares Breakup (Percentage of Total Equity):
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Sr No. |
Category |
Percentage |
|
1 |
Foreign holdings (Foreign Institutional investor(s),
foreign Companie(s), foreign financial institution(s), Non – resident (s) or
Overseas corporate bodies or others. |
100.00 |
BUSINESS DETAILS
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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. |
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Products : |
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Brand Names : |
L'Oreal Paris, Garnier
and Maybelline New York |
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 : |
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Name : |
Lovelock & Lewes Chartered
Accountant |
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Address : |
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 :
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No. of Shares |
Type |
Value |
Amount |
|
230000000 |
Equity shares |
Rs. 10/- each |
Rs. 2300.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
229500100 |
Equity shares |
Rs.10/- each |
Rs. 2295.001
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2006 |
31.12.2005 |
31.12.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2295.001 |
2295.001 |
2295.001 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
[1211.357] |
[1436.637] |
(1458.595) |
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NETWORTH |
1083.644 |
858.364 |
836.406 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
84.000 |
34.000 |
0.000 |
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TOTAL BORROWING |
84.000 |
34.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1167.644 |
892.364 |
836.406 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
810.565 |
653.738 |
558.298 |
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Capital work-in-progress |
149.509 |
97.852 |
63.165 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
937.201
|
551.226 |
380.544 |
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Sundry Debtors |
91.673
|
40.340 |
20.720 |
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Cash & Bank Balances |
47.414
|
143.533 |
168.800 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
207.673
|
215.848 |
138.022 |
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Total
Current Assets |
1283.961
|
950.947 |
708.086 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
1058.636
|
801.325 |
487.527 |
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Provisions |
17.755
|
8.848 |
5.616 |
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Total
Current Liabilities |
1076.391
|
810.173 |
493.143 |
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Net Current Assets |
207.570
|
140.774 |
214.943 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1167.644 |
892.364 |
836.406 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.12.2005 |
31.12.2004 |
|
Sales Turnover
|
3306.139 |
2251.472 |
|
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Other Income |
0.000 |
0.000 |
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Total Income |
3306.139 |
2251.472 |
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Profit/(Loss) Before Tax
|
14.458 |
19.871 |
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Provision for Taxation
|
363.341 |
-- |
|
Profit/(Loss) After Tax
|
[348.883] |
19.871 |
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Export Value
|
108.640 |
61.036 |
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|
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Import Value
|
|
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|
|
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Raw Material and Packing Materials
|
NA
|
197.394 |
|
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Finished Goods
|
NA |
102.921 |
|
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Capital Goods
|
NA
|
6.481 |
Total Import
|
NA |
306.796 |
|
|
|
|
|
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Total Expenditure
|
3291.681 |
2231.601 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2006 |
31.12.2005 |
31.12.2004 |
|
PAT / Total Income |
(%) |
NA
|
[10.55]
|
0.88
|
|
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|
|
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Net Profit Margin (PBT/Sales) |
(%) |
NA
|
0.00
|
0.88
|
|
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|
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|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
1.92
|
1.57
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.01
|
0.02
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.07
|
0.98
|
1.59
|
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|
Current Ratio (Current Asset/Current Liability) |
|
1.19
|
1.17
|
1.44
|
LOCAL AGENCY
FURTHER INFORMATION
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.
FIXED
ASSETS
The company’s valuable fixed assets include Land, Factory Building,
Plant and Machinery, Furniture And Fixtures, Vehicles, Leasehold Improvements,
Intangible Assets.
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. |
WEBSTIE DETAILS
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 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."
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
L’ORÉAL REWARDS MARKETING MINDS OF THE WORLD
6/22/2005
Paris, 21 June, 2005—Their 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 Restheirces-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 restheirces 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!
L’OREAL TO
ACQUIRE SKINCEUTICALS
5/18/2005
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. Skin Ceuticals 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.”
“They 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.
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.
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 ftheir 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 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.39.32 |
|
UK Pound |
1 |
Rs.81.35 |
|
Euro |
1 |
Rs.56.75 |
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 |
|