1. Summary Information
|
|
|
Country |
|
|
Company Name |
TOTAL OIL
INDIA LIMITED |
Principal Name 1 |
Hutchison William Pierre |
|
Status |
Good |
Principal Name 2 |
Yves Felicien Jassaud |
|
|
|
Registration # |
11-194631 |
|
Street Address |
3rd Floor, The Leela Galleria, |
||
|
Established Date |
09.01.1996 |
SIC Code |
-- |
|
Telephone# |
91-22-66407700 |
Business Style 1 |
Importing, Storing,
Refilling. LPG Appliances. |
|
Fax # |
91-22-66047720 |
Business Style 2 |
Manufacturing and
Marketing. |
|
Homepage |
Product Name 1 |
Lubricating Oils. |
|
|
# of employees |
-- |
Product Name 2 |
-- |
|
Paid up capital |
Rs.271,811,000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign Holdings – 100.00% |
Banking |
HDFC Bank |
|
Public Limited Corp. |
NO |
Business Period |
15 years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba
(51) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.12.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,545,467,000 |
Current Liabilities |
2,404,138,000 |
|
Inventories |
1,784,640,000 |
Long-term Liabilities |
261,051,000
|
|
Fixed Assets |
892,889,000 |
Other Liabilities |
8,729,000 |
|
Deferred Assets |
0 |
Total Liabilities |
2,673,918,000 |
|
Invest& other Assets |
270,292,000 |
Retained Earnings |
1,547,559,000 |
|
|
|
Net Worth |
1,819,370,000 |
|
Total Assets |
4,493,288,000 |
Total Liab. & Equity |
4,493,288,000 |
|
Total Assets (Previous Year) |
5,057,266,000 |
|
|
|
P/L Statement as of |
31.12.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
-- |
Net Profit |
668,317,000 |
|
Sales(Previous yr) |
-- |
Net Profit(Prev.yr) |
640,245,000 |
MIRA
INFORM REPORT
|
Report Date : |
16.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
TOTAL OIL INDIA LIMITED (w.e.f. 04.12.2009) |
|
|
|
|
Formerly Known
as : |
TOTAL LPG INDIA LIMITED |
|
|
|
|
Registered
Office : |
3rd Floor, The Leela Galleria, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2010 |
|
|
|
|
Date of
Incorporation : |
09.01.1996 |
|
|
|
|
Com. Reg. No.: |
11-194631 |
|
|
|
|
Paid-up Capital
: |
Rs.271.811 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U23203MH1996PTC194631 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT15808C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACE2175M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Lubricating Oils |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 7277000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track. General financial
position of the company is good. Trade relations are reported as fair. Business
is active. Payment are reported to be regular and as per commitments. The company can be considered good for normal 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.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
3rd Floor, The Leela Galleria, |
|
Tel. No.: |
91-22-66407700 |
|
Fax No.: |
91-22-66047720 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
#138, Ground Floor and First Floor, Raheja Paramount, Residency Road,
Bangalore – 560025, Karnataka, India |
|
Tel. No. : |
91-80-42730000 |
|
|
|
|
Marketing Office : |
Located at :
|
|
|
|
|
]Factory : |
|
DIRECTORS
As on 08.04.2011
|
Name : |
Yves Felicien Jassaud |
|
Designation : |
Director |
|
Address : |
10, Bis AV, DU General Leclerc – 78100, |
|
Date of Birth/Age : |
01.02.1959 |
|
Date of Appointment : |
14.08.2010 |
|
DIN No. : |
03153904 |
|
|
|
|
Name : |
Hutchison William Pierre |
|
Designation : |
Director |
|
Address : |
Wayside Cottage, |
|
Date of Birth/Age : |
11.10.1951 |
|
Date of Appointment : |
30.03.2009 |
|
DIN No. : |
02351857 |
|
|
|
|
Name : |
Jonnal Gadda Prakash |
|
Designation : |
Wholetime Director |
|
Address : |
380, Savan Apartments,13MAIN Road,RMV Extension.
Banglore,Kanataka-560080 |
|
Date of Birth/Age : |
04.08.1961 |
|
Date of Appointment : |
01.08.2009 |
|
DIN No. : |
02753687 |
|
|
|
|
Name : |
Thierry Pflmin |
|
Designation : |
Director |
|
Address : |
Nimroadstrasse 72, |
|
Date of Birth/Age : |
22.10.1959 |
|
Date of Appointment : |
25.03.2010 |
|
DIN No. : |
01228547 |
|
|
|
|
Name : |
Balakrishna Vijay Kumar |
|
Designation : |
Managing Director |
|
Address : |
209, Vars, Fantasy,Hac,2nd Stage, Indiranagar, Banglore
-560024, |
|
Date of Birth/Age : |
12.04.1956 |
|
Date of Appointment : |
05.10.2009 |
|
DIN No. : |
02829765 |
KEY EXECUTIVES
|
Name : |
M. B. Brahme |
|
Designation : |
Secretary |
|
Address : |
901, Great Eastern Heights, CHS Limited, Marve Road, Malad (West),
Mumbai – 400064, Maharashtra, India |
|
Date of Birth/Age : |
31.07.1962 |
|
Date of Appointment : |
01.07.2010 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 08.04.2011
|
Names of Shareholders |
No. of Shares |
|
Total Holding Asie |
8894387 |
|
Total Raffinage Marketing |
8544656 |
|
Total Raffinage Marketing |
9742091 |
|
TOTAL |
27181134 |
AS ON 08.04.2011
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Lubricating Oils. |
||||||||||||
|
|
|
||||||||||||
|
Products : |
|
GENERAL INFORMATION
|
Bankers : |
HDFC Bank |
|
Banking
Relations : |
-- |
|
|
|
|
Auditor : |
|
|
Name : |
BSR and Company Chartered Accountant |
|
Address : |
Lodha Excelus, 1st Floor, Apollo Mills Compound, N. M.
Joshi Marg, Mahalaxmi, Mumbai – 400011, |
CAPITAL STRUCTURE
As on 08.04.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
137000000 |
Equity Shares |
Rs. 10/- each |
Rs.1370.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
27181134 |
Equity Shares |
Rs. 10/- each |
Rs.271.811
Millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2010 |
31.12.2009 (9 Months) |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
271.811 |
271.811 |
865.943 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1547.559 |
1478.610 |
75.500 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1819.370 |
1750.421 |
941.443 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
28.015 |
71.476 |
0.000 |
|
|
2] Unsecured Loans |
233.036 |
630.923 |
0.000 |
|
|
TOTAL BORROWING |
261.051 |
702.399 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
8.729 |
15.466 |
14.567 |
|
|
|
|
|
|
|
|
TOTAL |
2089.150 |
2468.286 |
956.010 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
892.889 |
841.190 |
655.285 |
|
|
Capital work-in-progress |
270.292 |
174.079 |
73.183 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1784.640
|
1476.164
|
253.023 |
|
|
Sundry Debtors |
900.658
|
672.390
|
134.517 |
|
|
Cash & Bank Balances |
134.606
|
1611.672
|
456.056 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
510.203
|
281.771
|
73.271 |
|
Total
Current Assets |
3330.107
|
4041.997 |
916.867 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1689.165
|
1590.351
|
662.735 |
|
|
Other Current Liabilities |
0.000
|
0.000
|
0.000 |
|
|
Provisions |
714.973
|
998.629
|
26.590 |
|
Total
Current Liabilities |
2404.138
|
2588.980 |
689.325 |
|
|
Net Current Assets |
925.969
|
1453.017
|
227.542 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2089.150 |
2468.286 |
956.010 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2010 |
31.12.2009 (9 Months) |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
4740.127 |
|
|
|
Other Income |
|
|
28.875 |
|
|
|
TOTAL (A) |
NA |
NA |
4769.002 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
253.436 |
|
|
|
Personnel Expenses |
|
|
74.972 |
|
|
|
Material Cost |
|
|
4471.970 |
|
|
|
TOTAL (B) |
NA |
NA |
4800.378 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
NA |
(31.376) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
NA |
0.108 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
NA |
(31.484) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
NA |
107.823 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1042.603 |
996.318 |
(139.307) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
374.286 |
356.073 |
(45.562) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
668.317 |
640.245 |
(93.745) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.329 |
171.422 |
169.246 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
66.832 |
64.024 |
0.000 |
|
|
|
Dividend |
514.000 |
638.757 |
0.000 |
|
|
|
Tax on Dividend |
85.369 |
108.557 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
2.445 |
0.329 |
75.501 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
24.59 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2010 |
31.12.2009 (9 Months) |
31.03.2009 |
|
PAT / Total Income |
(%) |
--
|
--
|
(0.95) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
--
|
--
|
(2.93) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
24.69
|
20.40
|
(8.86) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.57
|
0.57
|
(0.14) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.46
|
1.88
|
0.73 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.38
|
1.56
|
1.33 |
LOCAL AGENCY FURTHER INFORMATION
Background :
Subject was incorporated under the provision of Companies Act, 1956 on 9th
January 1996 as a public company with limited liability. The company is a
subsidiary of Total Raffinngs Marketing, a subsidiary of Total SA,
At the company’s board meeting held on 24th December 2009,
the company applied to the Registrar of Companies for concerting itself from a
Public Company to a Private Company, which has been approved by the ROC on 31st
December 2009.
The company is engaged in importing and reselling Liquefied Petroleum
Gas (LPG) and certain solvents and manufacturing and marketing of industrial
and automotive lubricants. The company also provides business strategy services
in the areas of marketing, production ands research functions to its parent
company.
Change of Address :
Registered office of the company has been
shifted from No. 721,
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.44.53 |
|
|
1 |
Rs.71.91 |
|
Euro |
1 |
Rs.62.98 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
51 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
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.