MIRA
INFORM REPORT
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Report Date : |
27.08.2011 |
IDENTIFICATION DETAILS
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Name : |
A M TODD COMPANY INDIA PRIVATE LIMITED (w.e.f. 26.08.2004) |
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Formerly Known as : |
INDOMINT AGRIPRODUCTS PRIVATE LIMITED |
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Registered Office : |
20, Raj Mahal, 5th Floor, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
10.07.1995 |
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Com. Reg. No.: |
11-090399 |
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Capital
Investment / Paid-up Capital : |
Rs.45.455 Millions |
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CIN No.: [Company
Identification No.] |
U99999MH1995PTC090399 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Menthol, Mint Oils and Flavours. (They
Manufacture and Supply 100% to their Parent company in |
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No. of Employees
: |
30 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 1100000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to be
usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY (GENERAL DETAILS)
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Name : |
Umesh Patil |
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Designation : |
General Manager – Finance |
LOCATIONS
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Registered
Office : |
20, Raj Mahal, 5th Floor, 84 Veer Nariman Road, Near Hotel Ambassador,
Churchgate, Mumbai-400020, Maharashtra, India |
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Tel. No.: |
91-22-22821225 |
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Fax No.: |
91-22-22821788 |
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Email: |
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Area : |
3000 Sq. ft |
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Location : |
Rented |
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Factory : |
J97, MIDC, Tarapur, Boisar – 401506, |
DIRECTORS
As on 02.07.2010
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Name : |
Mr. Rajendra Pratap Ghogale |
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Designation : |
Managing Director |
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Address : |
215, Shalaka, |
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Date of
Birth/Age : |
04.07.1960 |
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Date of
Appointment : |
16.05.2001 |
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DIN No. : |
00953819 |
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Name : |
Mr. Robert Floyd Wheeler |
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Designation : |
Director |
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Address : |
10237, |
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Date of
Birth/Age : |
20.03.1969 |
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Date of
Appointment : |
30.09.2002 |
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DIN No. : |
02509094 |
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Name : |
Mr. Raymond John Hughes |
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Designation : |
Additional Director |
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Address : |
8625, |
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Date of
Birth/Age : |
11.11.1956 |
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Date of
Appointment : |
05.12.2009 |
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DIN No. : |
02912750 |
KEY EXECUTIVES
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Name : |
Mr. Umesh Patil |
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Designation : |
General Manager – Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 02.07.2010
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Names of Shareholders |
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No. of Shares |
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M/s A. M. Todd Company , |
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4545449 |
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Mr. Rajendra Pratap Ghogale,Mumbai |
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1 |
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Mr. Robert Wheeler, |
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1 |
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Mr. Sharon Wicker, |
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1 |
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Mr. Ross Sheldon, |
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1 |
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M Am Todd Company Limited, |
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1 |
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Total |
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4545454 |
As on 02.07.2010
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Category |
Percentage |
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Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business
: |
Manufacturer and Exporter of Menthol, Mint Oils and Flavours. (They
Manufacture and Supply 100% to their Parent company in |
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Products : |
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Exports : |
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Products : |
Mint Oil, Menthol and Flavours |
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Countries : |
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PRODUCTION STATUS As on 31.03.2010
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Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
Actual Production |
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Mint Oils and Flavors |
Kg |
Not Applicable |
1030000 |
608859 |
GENERAL INFORMATION
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Customers : |
Parent Company |
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No. of Employees
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30 (Approximately) |
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Bankers: |
Not Available |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S. R. Batliboi and Company Chartered Accountants |
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Address : |
Jalan Mill Compound, 95, Ganpat Rao Kadam Marg, Lower Parel, Mumbai -
400013, |
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Tel. No. : |
91-22-40356300 |
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Fax No. : |
91-22-40356400 |
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Holding
Company : |
A.M. Todd Company U.SA |
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Fellow
Subsidiary: |
A.M. Todd Company U.K |
CAPITAL STRUCTURE
As On 31.03.2009
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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5000000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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4545454 |
Equity Shares |
Rs. 10/- each |
Rs. 45.455 Millions |
NOTE:
1) All the above shares are held by A.M. Todd
Company,
2) 999500 Shares
were alloted for a consideration other than cash.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
45.455 |
45.455 |
45.455 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
233.699 |
209.555 |
75.244 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
279.154 |
255.010 |
120.699 |
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LOAN FUNDS |
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1] Secured Loans |
1.190 |
1.458 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
1.190 |
1.458 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
280.344 |
256.468 |
120.699 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
34.051 |
41.939 |
46.188 |
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Capital work-in-progress |
0.000 |
0.120 |
0.025 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
3.147 |
2.225 |
0.815 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
192.874 |
207.670 |
176.045 |
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Sundry Debtors |
93.692 |
356.441 |
91.916 |
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Cash & Bank Balances |
6.534 |
17.422 |
4.837 |
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Other Current Assets |
2.778 |
0.975 |
0.000 |
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Loans & Advances |
59.511 |
70.017 |
33.352 |
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Total Current Assets |
355.389 |
652.525 |
306.150 |
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Less : CURRENT LIABILITIES &
PROVISIONS |
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Sundry Creditors |
93.008 |
354.080 |
195.405 |
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Other Current Liabilities |
10.369 |
9.733 |
13.651 |
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Provisions |
8.866 |
76.528 |
23.423 |
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Total Current Liabilities |
112.243 |
440.341 |
232.479 |
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Net Current Assets |
243.146 |
212.184 |
73.671 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
280.344 |
256.468 |
120.699 |
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PROFIT & LOSS ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
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Other Income |
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TOTAL |
676.422 |
1221.848 |
655.337 |
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Less |
EXPENSES |
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Expenditure |
631.697 |
991.619 |
605.613 |
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TOTAL |
631.697 |
991.619 |
605.613 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
44.725 |
230.229 |
49.724 |
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Less |
FINANCIAL
EXPENSES |
2.409 |
10.692 |
5.353 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
42.316 |
219.537 |
44.371 |
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Less |
DEPRECIATION/
AMORTISATION |
5.797 |
6.853 |
8.359 |
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PROFIT BEFORE
TAX |
36.519 |
212.684 |
36.012 |
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Less |
TAX |
12.375 |
78.374 |
13.155 |
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PROFIT AFTER TAX |
24.144 |
134.310 |
22.857 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
201.915 |
67.605 |
44.748 |
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BALANCE CARRIED
TO THE B/S |
226.059 |
201.915 |
67.605 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
381.493 |
968.862 |
464.525 |
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TOTAL EARNINGS |
381.493 |
968.862 |
464.525 |
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IMPORTS |
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Raw Materials |
79.259 |
205.595 |
127.074 |
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Traded Goods |
2.118 |
0.081 |
5.064 |
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Capital Goods |
0.544 |
0.264 |
2.256 |
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TOTAL IMPORTS |
81.921 |
205.940 |
134.394 |
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Earnings Per
Share (Rs.) |
5.31 |
5.00 |
-- |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total
Income |
(%) |
3.57 |
10.99 |
3.49 |
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Return on Total
Assets (PBT/Total
Assets} |
(%) |
9.38 |
30.63 |
10.22 |
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Return on
Investment (ROI) (PBT/Networth) |
|
0.13 |
0.83 |
0.30 |
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Debt Equity
Ratio (Total
Liability/Networth) |
|
0.41 |
1.73 |
1.93 |
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Current Ratio (Current
Asset/Current Liability) |
|
3.17 |
1.48 |
1.32 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS
The sales of the Company for the current year was Rs.
676.422 Millions as compared to previous year’s sales of Rs. 1221.848 Millions.
The principal reason for the drop in total sales over the previous year is due
to the lower inter-company orders from A M
NATURE OF OPEARATIONS
A.M. Todd Company India Private Limited is
a wholly owned subsidiary of A.M. Todd Company
FIXED ASSETS
- Buildings
- Improvement of Lease Premises
- Plant and Machinery
- Furniture and Fittings
- Office Equipments
- Computers
- Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.46.05 |
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|
1 |
Rs.75.20 |
|
Euro |
1 |
Rs.66.47 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
NO |
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--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
45 |
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 |
Capability to overcome financial difficulties seems comparatively below
average. |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.