MIRA
INFORM REPORT
|
Report Date : |
25.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
PARLE PRODUCTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
North Level Crossing, Vile Parle (E), Mumbai – 400057, |
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Country : |
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|
Financials (as
on) : |
31.03.2010 |
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|
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|
Date of
Incorporation : |
09.12.1950 |
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|
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|
Com. Reg. No.: |
11-8334 |
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Capital Investment
/ Paid-up Capital : |
Rs.19.410
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15400MH1950PTC008334 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP15062F MUMP00186E |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACP0486A |
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|
|
Legal Form : |
Private Limited Liability
Company |
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|
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|
Line of Business
: |
Manufacturer of Biscuits, Sugar
Confectionery and Chocolate Confectionery. |
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|
|
|
No. of Employees
: |
1000 (approximately) [50 – In Office + 950 – In Factory] |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (77) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 9000000 |
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|
|
|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established
and a reputed company having fine track. Financial position of the company appears
to be sound. Fundamentals are strong and healthy. Trade relations are
reported as fair. Business is active. Payments are reported to be regular and
as per commitment. The company can be considered
normal for business dealings at usual trade terms and conditions. It can be regarded as a
promising business partner in medium to long run. |
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 |
INFORMATION DENIED BY
|
Name : |
Mr. Pitale |
|
Designation : |
Accounts Department |
LOCATIONS
|
Registered Office/ Factory 1: |
North Level Crossing, Vile Parle (E), Mumbai – 400057, |
|
Tel. No.: |
91-22-66916911-15 |
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Fax No.: |
91-22-66916927/66916926 |
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E-Mail : |
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|
Website : |
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Factory 2 : |
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Tel. No.: |
91-22-5691 6911 to 14 |
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Fax No.: |
91-22-5691 6927. |
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|
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|
Factory 3 : |
SP-2/4 RIICO Industrial Area, |
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Factory 4 : |
36, |
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|
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Factory 5 : |
15.K.M.Stone, |
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Factory 6 : |
Survey No. 120/2 & 118/2, Doddabidarakallu Village,
Yeshwantpura, Hubli, Bangalore North, 15th K. M., Tumkur, N. H.
No. 4, Bangalore – 560 073, Karnataka |
|
Tel. No.: |
91-80-28398825 / 28372807 |
|
Fax No.: |
91-80-28398800 / 28398825 |
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|
|
|
Factory 7: |
V S Khandekar Marg, Vile Parle (East), Mumbai-400057, |
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Tel. No.: |
91-22-66916911 |
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Fax No.: |
91-22-66916926 |
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E-Mail : |
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Regional Sales
Offices (RSO) : |
Located At:
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DIRECTORS
As On 22.09.2010
|
Name : |
Mr. Vijay Kantilal Chauhan |
|
Designation : |
Chairman |
|
Address : |
Kanila, |
|
Date of Birth/Age : |
26.12.1936 |
|
Date of Appointment : |
26.09.2001 |
|
DIN No. : |
00290771 |
|
|
|
|
Name : |
Mr. Sharad Pitamber Chauhan |
|
Designation : |
Managing Director |
|
Address : |
Purnima, |
|
Date of Birth/Age : |
26.10.1944 |
|
Date of Appointment : |
26.09.2001 |
|
DIN No. : |
00290803 |
|
|
|
|
Name : |
Mr. Raj Kantilal Chauhan |
|
Designation : |
Managing Director |
|
Address : |
Kanila, |
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Date of Birth/Age : |
22.09.1946 |
|
Date of Appointment : |
26.09.2001 |
|
DIN No. : |
00290785 |
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|
|
|
Name : |
Mr. Ajay Vijay Chauhan |
|
Designation : |
Director |
|
Address : |
Kanila, |
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Date of Birth/Age : |
21.07.1965 |
|
Date of Appointment : |
26.09.2001 |
|
DIN No. : |
00290837 |
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|
|
|
Name : |
Mr. Arup Sharad Chauhan |
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Designation : |
Director |
|
Address : |
Purnima, |
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Date of Birth/Age : |
23.06.1975 |
|
Date of Appointment : |
22.08.2003 |
|
DIN No. : |
00290834 |
|
|
|
|
Name : |
Mr. |
|
Designation : |
Director |
|
Address : |
Purnima, |
|
Date of Birth/Age : |
26.09.1979 |
|
Date of Appointment : |
18.07.2007 |
|
DIN No. : |
00290852 |
KEY EXECUTIVES
|
Name : |
Mr. Pitale |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 22.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Sharad Pitamber Chauhan Asha Sharad Chauhan |
|
8659 |
|
Arup Sharad Chauhan |
|
6936 |
|
|
|
6935 |
|
Amol Sharad Chauhan |
|
6935 |
|
Asha Sharad Chauhan Sharad Pitamber Chauhan |
|
1830 |
|
Sharad Pitamber Chauhan Asha Sharad Chauhan |
|
2000 |
|
Pitamber Mohanla Sharad Pitamber Chauhan Madhuri Sharad Sheth |
|
3332 |
|
Pitamber Mohanla Sharad Pitamber Chauhan Madhuri Sharad Sheth |
|
3332 |
|
Sharad Pitamber Chauhan Madhuri Sharad Sheth Vijay Kantilal Chauhan |
|
1800 |
|
Sharad Pitamber Chauhan Madhuri Sharad Sheth Vijay Kantilal Chauhan |
|
1800 |
|
Sharad P. Chauhan Madhuri Sharad Sheth Raj Kantilal Chauhan |
|
2000 |
|
Sharad Pitamber Chauhan Madhuri Sharad Sheth Raj Kantilal Chauhan |
|
1900 |
|
Sharad Pitamber Chauhan Madhuri Sharad Sheth Raj K. Chauhan |
|
2000 |
|
Sharad Pitamber Chauhan Vijay Kantilal Chauhan Madhuri Sharad Sheth Raj Kantilal Chauhan |
|
1900 |
|
Sharad Pitamber Chauhan Vijay Kantilal Chauhan Madhuri Sharad Sheth Asha Sharad Chauhan |
|
4800 |
|
Serene Charitable Foundation |
|
5790 |
|
Vasant Narendra Dalal |
|
954 |
|
Sheela A. Chiniwalla |
|
956 |
|
Narottam Mohanlal Sheela Ashwin Chiniwalla Vijay Kantilal Chauhan Sharad Pitamber Chauhan |
|
10226 |
|
Narottam Mohanlal Sheela Ashwin Chiniwalla Vijay Kantilal Chauhan Sharad Pitamber Chauhan |
|
10224 |
|
Pentagon Charitable Foundation |
|
39590 |
|
Nila Kantilal Vijay Kantilal Chauhan Raj Kantilal Chauhan |
|
3524 |
|
Vijay Kantilal Chauhan Shakuntala Vijay Chauhan |
|
6404 |
|
Raj Kantilal Chauhan Nina Raj Chauhan |
|
6946 |
|
Shakuntala Vijay Chauhan Vijay Kantilal Chauhan |
|
4098 |
|
Nina Raj Chauhan |
|
6584 |
|
Ulka R. Fischer |
|
4554 |
|
Ambika R. Chauhan |
|
4554 |
|
Ajay Vijay Chauhan |
|
3942 |
|
Sonal Yatin Kakodkar |
|
6260 |
|
Amita Ajay Chauhan |
|
354 |
|
Raj Kantilal Chauhan Nina Raj Chauhan |
|
1870 |
|
Kantilal Mohanlal Vijay K. Chauhan Raj K. Chauhan |
|
3000 |
|
Kantilal Mohanlal Vijay Kantilal Chauhan Raj Kantilal Chauhan |
|
3000 |
|
Kantilal Mohanlal Vijay Kantilal Chauhan Sharad Pitamber Chauhan |
|
3000 |
|
Shakuntala Vijay Chauhan Ajay Vijay Chauhan Arup S Chauhan |
|
3460 |
|
Shakuntala V. Chauhan Ajay Vijay Chauhan Arup S Chauhan |
|
400 |
|
P K Khnsaheb Mariamma Rajan Iyer |
|
1 |
|
Mohanlal Dayal Charitable Foundation |
|
8250 |
|
|
|
|
|
Total |
|
194100 |
As On 22.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
72.37 |
|
Other top fifty shareholders |
27.63 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Biscuits, Sugar
Confectionery and Chocolate Confectionery. |
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Products : |
1.
Melody (New) 2.
Mango Bite 3.
Kaccha Mango Bite 4.
Poppins 5.
Kismi Tofee 6.
Kisme Toffee Bar 7.
Mazelo (New)
1. Musst Bites 2. Cheeslings 3. Sixer 4.
5. Hide and Seek 6. Hide and Seek Milano 7. Digestive Marie
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Exports : |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash, Credit |
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Purchasing : |
L/C, Cash, Credit |
PRODUCTION STATUS (As on 31.03.2010)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Biscuits |
M.T |
NA |
136642.08 (148324.540) |
399369.21 9385835.368) |
|
Confectionery |
M.T |
NA |
10409.000 (5549.000) |
18785.308 (35125.568) |
|
Atta |
M.T |
NA |
- |
175.114 |
|
Power generated from windmill |
KWH |
72000 (7200) |
7200.000 |
10241079.000 (9919821.000) |
|
Power generated from lignite |
KWH |
1500 (1500) |
- |
- |
|
Printed laminated wrappers |
M.T |
NA |
3600.000 (3750.000) |
2820.509 (2213.064) |
|
C. Boxes |
Nos |
NA |
7500000.000 (7200000.000) |
7124600.000 (5688225.000) |
Notes:
1) Installed
capacity is in respect of the companys own manufacturing units and does not
includes capacity of contract manufacturers
2) Production
includes production of companys own manufacturing units as well as production
for the company by its contract manufactures
3) Including
3,28,481.270 M.T. manufactured by contract manufacturing units. (Previous year
3,18,736.334 M.T.)
4) Including
14,754.265 M.T. manufactured by contract manufacturing units. (Previous year
29,258.337 M.T.)
5) Including
175.114 M.T. manufactured by contract manufacturing units. (Previous year Nil
M.T.)
6) Excludes
34,821.000 KW (Previous year 7,46,653 KW) on account of transmission loss,
wheeling charges and reactive power
7) Licensed
capacity is as approved by Maharashtra Energy Development Agency on 100%
utilisation basis.
8) Previous year's
figures are given in brackets
GENERAL INFORMATION
|
Customers : |
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No. of Employees : |
1000 (approximately) [50 – In Office + 950 – In Factory] |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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|
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|
Auditors : |
|
|
Name : |
S A Buhariwalla and Associates Chartered Accountant |
|
Address : |
201/203, Konark Classic, |
|
Pan No. : |
AACPB0118L |
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|
|
|
Wholly Owned Subsidiary : |
CIN: U15412MH1974PTC017797
CIN: U24240MH1975PTC018645
CIN: U53100MH1985PTC035139 |
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Subsidiaries : |
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Associates: |
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Partnership : |
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CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
372900 |
Equity Share |
Rs.100/- Each |
Rs. 37.290 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
194100 |
Equity Share |
Rs.100/- Each |
Rs.19.410
millions |
Notes:
1. Prior to
01.04.1975 1, 76, 752 equity shares of Rs. 100 each were allotted as fully paid
equity shares by way of
capitalisation of
reserves which were subsequently converted into equal number of 4% / 18%
cumulative irredeemable preference shares of Rs. 100 each. In terms of section
80A of the Companies Act, 1956, these cumulative irredeemable preference shares
were redeemed by issue of equal number of 4% / 18% cumulative redeemable
preference shares in the year ended 31st March 1994. With effect from 13th June
1994, the rights of these 4% and 18% cumulative redeemable preference shares
were varied and modified to make them participating cumulative redeemable
preference shares. The said 4% and 18% participating cumulative redeemable
preference shares were redeemable at par at the end of twenty years from the
date of allotment or earlier by giving a notice of three months in writing at
the option of the Company.
2. The rights
attached to 4% and 18% Participating Cumulative Redeemable Preference Shares of
Rs. 100 each were varied or modified by their conversion into Ordinary Shares
of Rs. 100 each on 17.03.1999. Simultaneously, the rights attached to 3,000
Ordinary Shares of Rs. 100 each were varied by way of their conversion into 20%
Participating Cumulative Redeemable Preference Shares of Rs. 100 each. The said
20% Participating Cumulative Redeemable Preference Shares of Rs. 100 each were
redeemable at par at the end of 20 years from the date of allotment or earlier
by giving a notice of one month in writing at the option of the company. On
30.06.1999 the Company has redeemed the said Preference Shares out of the
profits available for dividend and has created Capital Redemption Reserve
Account by transferring from the profits an amount equivalent to the nominal
value of the shared redeemed.
The Company was
legally advised that such variation or modifications of the rights attached to
the 4% and 18% participating Cumulative Redeemable Preference Shares and
simultaneous variation of the rights attached to the Ordinary Shares are in
accordance with the provisions of section 106 of the Companies Act, 1956; and
the provisions of Section 80 and 80A of the Companies Act, 1956 relating to the
issue and redemption of Redeemable Preference Shares and Section 100 of the
Companies Act, 1956 relating to the reduction of share capital are not
attracted.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
19.410 |
19.410 |
19.410 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2231.780 |
2391.584 |
2632.732 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2251.190 |
2410.994 |
2652.142 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
465.002 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
34.466 |
|
|
TOTAL BORROWING |
465.002 |
0.000 |
34.466 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
13.641 |
13.525 |
|
|
|
|
|
|
|
|
TOTAL |
2716.192 |
2424.635 |
2700.133 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
960.558 |
1115.814 |
1176.875 |
|
|
Capital work-in-progress |
46.835 |
100.387 |
101.392 |
|
|
|
|
|
|
|
|
INVESTMENT |
1122.292 |
244.823 |
330.467 |
|
|
DEFERREX TAX ASSETS |
34.884 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1329.244
|
1104.839
|
899.127 |
|
|
Sundry Debtors |
230.730
|
346.721
|
276.949 |
|
|
Cash & Bank Balances |
223.200
|
136.746
|
528.293 |
|
|
Other Current Assets |
7.738
|
3.874
|
4.309 |
|
|
Loans & Advances |
1253.247
|
1516.243
|
1295.800 |
|
Total
Current Assets |
3044.159
|
3108.423 |
3004.478 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1093.049
|
1223.484 |
|
|
|
Other Current Liabilities |
1330.323
|
868.836
|
1883.510 |
|
|
Provisions |
69.164
|
52.492
|
29.569 |
|
Total
Current Liabilities |
2492.536
|
2144.812
|
1913.079 |
|
|
Net Current Assets |
551.623
|
963.611
|
1091.399 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2716.192 |
2424.635 |
2700.133 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
18760.016 |
17673.308 |
14528.622 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
18716.468 |
17961.583 |
14538.472 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
334.440 |
93.504 |
292.090 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
254.341 |
71.746 |
102.788 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
80.099 |
21.758 |
189.302 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
624.254 |
962.709 |
483.964 |
|
|
|
Royalty |
8.393 |
17.152 |
6.957 |
|
|
TOTAL EARNINGS |
632.647 |
979.861 |
490.921 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
801.876 |
302.158 |
111.224 |
|
|
|
Stores & Spares |
1.042 |
0.469 |
0.971 |
|
|
|
Packing Materials |
13.192 |
0.000 |
5.833 |
|
|
|
Capital Goods |
5.662 |
9.301 |
41.946 |
|
|
|
Traded Items (Fruit rolls) |
0.000 |
0.000 |
4.405 |
|
|
TOTAL IMPORTS |
821.772 |
311.928 |
164.379 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
899.40 |
111.96 |
1123.76 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.78
|
0.53 |
2.01 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.35
|
2.22 |
6.99 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.04 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.31
|
0.89 |
0.73 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22
|
1.45 |
1.57 |
LOCAL AGENCY FURTHER INFORMATION
Operations
The sales for the year are Rs.18760.017 millions as compared to previous
year’s sales of Rs. 17673.308 millions showing an increase of 3.15%% in sales.
Note:
Registered Office
of the company has been shifted from V.S. Khandekar Marg, Vile Parle (East), Mumbai
– 400057,
Bankers Charges
Report as per Registry
|
Name of the
company |
PARLE PRODUCTS LIMITED |
|
Presented By |
Corporation Bank, Industrial Finance Branch,
Fort, |
|
1) Date and
description of instrument creating the change |
1. Agreement for term loan dated 18.01.1995
2. Unattested deed of hypothecation of
movable dated 18.01.1995 (Both the agreement constitute a single charge)
|
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs.17.500
millions |
|
3) Short
particular of the property charged. If the property acquired is subject to
charge, date of the acquired of the property should be given |
For acquisition of
capital equipments as given below: 1) One 100 KW
Proctor Strayfield Flameless Furnace comprising of:
2) Essential spares
for the above described machineries The above
machineries to be supplied by M/s Proctor Strayfield limited, |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
1) Interest @2% over and ab0ove the RBI rate subject to the minimum of
14 % p.a. or at such rate that the bank may determine to charge from time to
time. 2) Penal Interest @ 2% p.a. 3) To be release in stages the
loan may be released for retiring the import documents for supply of the machinery under L/C established for
he purpose buy Vysya Bank Limited 4) Repayment in 12 quarterly installments from March, 1995. |
|
5) Name and
Address and description of the person entitled to the charge. |
Corporation Bank, Industrial Finance Branch, Bharat House, Ground
Floor, No-104, B |
|
6) Date and brief description of instrument
modifying the charge |
Not Available |
|
7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
Not Available |
|
Corporate
identity number of the company |
U15400MH1950PTC008334 |
|
Name of the
company |
PARLE PRODUCTS LIMITED |
|
Address of the
registered office or of the principal place of business in |
North Level Crossing, Vile Parle (East), Mumbai-400057, |
|
This form is for |
Modification of
charge |
|
Charge
Identification Number |
10133421 |
|
Type of charge |
Book Debts Movable Property Others Current Assets |
|
Particular of
charge holder |
Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227, D, Nariman
Point, Mumbai-400021, Maharashtra, India Emil ID: vijendra.sapre@kotak.com
|
|
Nature of
instrument creating charge |
Supplementary
deed of hypothecation |
|
Date of
instrument Creating the charge |
25.03.2010 |
|
Amount secured by
the charge |
Rs. 2000.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest WCDL, CC,
EPC/PCFC,FBD/FBP/FBN-To be decided at the time of availment. Interest shall
be debited from current a/c o fborrower. Trade credit-to be decided at the
time of availment to be collected upfront. Terms of
Repayment WCDL-Maximum 90
days Trade
Credit-Maximum 180 days BG-Maximum 1
year. Margin WCDL-405% CC, EPC/PCFC,
FBD/FBP/FBN-30% Extent and
Operation of the charge First and exclusive
charge by way of hypothecation on current assets of the borrower in favour of
Kotak Mahindra Bank, to secure the repayment of financial facilities granted
by the bank to the borrower. |
|
Short particular
of the property or asset(s) charged |
The whole of the
borrowers current assets both present and future |
|
Date of
instrument modifying the charge |
11.01.2010 |
|
Particulars of
the present modification |
The Bank had
granted facilities of Rs.250.000 millions which was secured by Hypothecation of
Current Assets (Stocks and Book debts) of the Borrower on 07.11.2008. Said
charge was modified on 06.02.2009, 08.09.2009 and 11.01.2010. The Bank has
now revised the said facilities as stated in Schedule - II to the
Supplemental Deed of Hypothecation and said charge is now modified and
extended to the revised total facilities of Rs.2000.000 millions. |
Fixed Assets
- Goodwill, Trademark and Patent Rights
- Land
- Building
- Plant and Machinery
- Furniture, Fixtures and Office Equipment
- Vehicles
AS PER WEB DETAILS
PROFILE
Parle Products has been
Many of the Parle products - biscuits or confectioneries,
are market leaders in their category and have won acclaim at the Monde
Selection, since 1971. With a 40% share of the total biscuit market and a 15%
share of the total confectionary market in
History
In 1929 a small company by the name of Parle products
emerged in British dominated
Apart from the factories in Mumbai and Bangalore Parle also has factories in Bahadurgarh in Haryana and Neemrana in Rajasthan, which are the largest biscuit and confectionery plants in the country. Additionally, Parle Products also has 7 manufacturing units and 51 manufacturing units on contract.
Awards
Parle products have been shining with the golds and silvers consistently at the Monde Selection ever since they were first entered in 1971. Monde Selection is an international institute for assessing the quality of foods and is currently the oldest and most representative organization in the field of selecting quality foods worldwide.
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.44.94 |
|
|
1 |
Rs.71.89 |
|
Euro |
1 |
Rs.64.09 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
9 |
|
--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 |
|
77 |
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.