MIRA
INFORM REPORT
|
Report Date : |
19.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
ANCHOR
HEALTH AND BEAUTY CARE PRIVATE LIMITED |
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Registered Office : |
C -201,
Innova, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
12.10.1992 |
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Com. Reg. No.: |
11-68971 |
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CIN No.: [Company
Identification No.] |
U24249MH1992PTC068971 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA11215B |
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Legal Form : |
Private
limited liability company. |
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Line of Business : |
Manufacturing
of Personal Care (Dyna Soap, Detergents) and Oral Care (Toothpaste, Tooth
Powder) Products. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (67) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Maximum Credit Limit : |
USD 5500000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is well established and reputed company having fine track.
Financial position of the company appears to be sound. Trade relations are fair.
Business is active. Payments 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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office : |
C -201,
Innova, |
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Tel. No.: |
91-22-32556340 |
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E-Mail : |
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Head Office 1
: |
5, Sunbeam
Chamber, 2nd Floor, New Marine Lines, Mumbai – 400020, |
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Tel. No.: |
91-22-32556340 |
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Fax No.: |
91-22-22069056 |
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Head Office 2
: |
Innova, 2nd
Floor, Off Ganpatrao Kadam Marg, Next Gen Marathon Opposite Peninsula
Corporate Park, Lower Parel (W), Mumbai, Maharashtra, India |
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Tel No.: |
91-22-39515555 |
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Website: |
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Corporate
Office : |
Krishna
Chamber, 3rd Floor, 59, New Marine Lines, Mumbai – 400020, |
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Tel. No.: |
91-22-22626661 |
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Factory 1 : |
Plot
No. 22 to 26, Panchal Udyog Nagar, Bhimpore, Nani Daman – 396210, Union Territory
of Dadra and Nagar Haveli |
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Factory 2 : |
Survey
No. 181/2, Panchal Udyog Nagar, Bhimpore, Nani Daman – 396210, |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Sanjay Damji Shah |
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Designation : |
Director |
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Address : |
304, |
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Date of Birth/Age : |
15.01.1967 |
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Date of Appointment : |
07.02.2000 |
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Name : |
Mr. Jadavji Lalji Shah |
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Designation : |
Director |
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Address : |
25/2,
Mont Blanc, Dady Set Hill, August Kranti Marg, Mumbai – 400 036, |
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Date of Birth/Age : |
09.05.1939 |
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Date of Appointment : |
04.11.2004 |
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Name : |
Mr.
Rajesh Nagjibhai Karani |
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Designation : |
Director
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Address : |
C -9,
Sarvodaya Estate, Near Postal Colony, Chembur (East), Mumbai- 400071, |
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Date of
Birth/Age : |
04.11.1964 |
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Date of
Appointment : |
10.06.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Sanjay
D. Shah |
|
179208 |
|
Jadavji
L. Shah |
|
3253 |
|
Mehul
J. Shah |
|
211732 |
|
Damji
L. Shah |
|
2602 |
|
Heena
S. Shah |
|
712276 |
|
Julie
M. Shah |
|
679752 |
|
Usha
A. Shah |
|
975720 |
|
Hemang
J. Shah |
|
975720 |
|
Park
Royal Enterprises Limited, |
|
931800 |
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Total |
|
4672063 |
As on 30.09.2010
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Equity Share Breakup |
|
Percentage of Holding |
|
Category |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
19.94 |
|
Directors
or relatives of directors |
|
80.06 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing
of Personal Care (Dyna Soap, Detergents) and Oral Care (Toothpaste, Tooth
Powder) Products |
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Products : |
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GENERAL INFORMATION
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
N. B.
Purohit and Company Chartered
Accountants, |
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Address : |
104,
Flyover Apartment, |
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Tel. No.: |
91-22-30972415 |
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Fax No.: |
91-22-22061533 |
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E-Mail : |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
11000000 |
Equity Shares |
Rs.10/- each |
Rs.110.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4672063 |
Equity Shares |
Rs.10/- each |
Rs.46.720
Millions |
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 |
46.720 |
46.720 |
46.721 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1333.606 |
952.813 |
920.486 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1380.326 |
999.533 |
967.207 |
|
|
LOAN FUNDS |
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|
|
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|
1] Secured Loans |
0.000 |
1.018 |
2.293 |
|
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2] Unsecured Loans |
74.485 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
74.485 |
1.018 |
2.293 |
|
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1454.811 |
1000.551 |
969.500 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
936.764 |
222.294 |
245.817 |
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Capital work-in-progress |
76.407 |
167.388 |
115.346 |
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INVESTMENT |
6.763 |
47.093 |
6.236 |
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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 |
243.271
|
195.983 |
229.088
|
|
|
Sundry Debtors |
78.443
|
68.970 |
218.604
|
|
|
Cash & Bank Balances |
117.547
|
137.188 |
135.810
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
284.761
|
344.211 |
321.356
|
|
Total
Current Assets |
724.022
|
746.352 |
904.858 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
215.601
|
126.857 |
|
|
|
Other Current Liabilities |
21.365
|
34.534 |
234.767
|
|
|
Provisions |
52.179
|
21.185 |
67.990
|
|
Total
Current Liabilities |
289.145
|
182.576 |
302.757
|
|
|
Net Current Assets |
434.877
|
563.776 |
602.101
|
|
|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
|
TOTAL |
1454.811 |
1000.551 |
969.500 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
|
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Income |
|
|
2023.064 |
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|
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Other Income |
|
|
244.520 |
|
|
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TOTAL (A) |
3290.833 |
2857.940 |
2267.584 |
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Less |
EXPENSES |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL (B) |
2776.901 |
2753.836 |
1965.318 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
513.932 |
104.104 |
302.266 |
|
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|
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|
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|
Less |
FINANCIAL
EXPENSES (D) |
2.377 |
1.175 |
3.482 |
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
511.555 |
102.929 |
298.784 |
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|
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|
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|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
30.763 |
31.313 |
34.804 |
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|
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|
PROFIT BEFORE
TAX (E-F) (G) |
480.792 |
71.616 |
263.980 |
|
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|
|
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|
Less |
TAX (H) |
100.000 |
39.290 |
54.515 |
|
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|
PROFIT AFTER TAX
(G-H) (I) |
380.792 |
32.326 |
209.465 |
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EARNINGS IN
FOREIGN CURRENCY |
|
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|
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|
|
|
Export Earnings |
51.841 |
32.528 |
15.472 |
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IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
17.465 |
2.178 |
18.113 |
|
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|
|
Earnings Per
Share (Rs.) |
81.50 |
6.92 |
44.83 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
11.57
|
1.13 |
9.23 |
|
|
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|
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|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
13.05 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
28.95
|
7.39 |
22.94 |
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.07 |
0.27 |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
0.26
|
0.18 |
0.32 |
|
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|
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|
|
Current Ratio (Current Asset/Current Liability) |
|
2.50
|
4.09 |
2.99 |
LOCAL AGENCY FURTHER INFORMATION
Financial Results:
During the year the excellent performances of the company has this year
resulted into overall reasonable growth in terms of sales and net profit as
compared to the previous year, sales for the year have gone up from Rs.2835.900
millions to Rs.3255.600 millions with an increase of Rs.419.700 millions. The
net profit for the year increased to Rs.380.800 millions as compared to
Rs.32.300 millions in the previous year.
The company has continued is efforts to tap the rural and urban markets,
through innovative promotional schemes, the company also continues to face
pressure on margins due to increase in the input costs and stiff competition in
the market. All these efforts are likely to improve the company market share in
tooth paste, tooth brush, talcum provider and confectionery items.
The observation made by the auditors in their report are explained in
the notes to the accounts and the same are self explanatory.
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U24249MH1992PTC068971 |
|
Name of the
company |
ANCHOR HEALTH AND
BEAUTY CARE PVT LTD |
|
Address of the
registered office or of the principal place of business in |
C
-201, Innova, |
|
Type of charge |
Book Debts Movable Property
(not being pledge) |
|
Particular of
charge holder |
Bank of
India, Malad (West) Branch, S. V. Road, P. B. No. 7603, Malad (West), Mumbai
– 400064, Maharashtra, India |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
Hypothecation cum
Loan Agreement (Plant and Machinery ,
Stocks and Book Debts) |
|
Date of
instrument Creating the charge |
18.05.2010 |
|
Amount secured by
the charge |
Rs.100.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 1% over BPLR
presently 13% p.a. with monthly rests or at such other rate/s of interest as
may be notified by the Bank from time to time. Terms of
Repayment On Demand. Margin 25% against raw
material ,finished goods; 40% against book debts outstanding of 2 or 3 months
or as specified by the bank from time to time. Extent and
Operation of the charge Security and charge
hereby created shall be by way of first charge on all the said hypothecated
assets for due payment as provided in the deed of all monies including the
principal sums, interest/commission costs charges and expenses and all other
monies whatsoever due owing and payable by the Borrower to the Bank under or
in respect of or in connection with or in any wise concerning or relating to
the said facilities agreed to be granted and/or granted by the Bank to the
Contd Others borrower and also
for due repayment of all present and
future indebtedness and liabilities of the borrower to the Bank of any
kind in any manner whether solely or jointly primary or collateral accrued or
accruing with all relative interest/commission, charges , costs (between
advocate and client) and expenses. Facility and
Limit: 1) Cash Credit (Stock + Book debts) Rs.100.000 Millions. |
|
Short particulars
of the property charged |
I)
a)
All tangible movable machineries and plant, both present and future situate at Haridwar or wherever else
b)All tangible movable properties, assets, Contd. II)
and
stocks of whatsoever nature of the Borrower both present and future wheresoever situate at Haridwar or
elsewhere. c) All present and future
book debts, outstanding, money receivables, claims, bills which III)
are
now due and owing or which may any time hereafter during the continuance of
this security become due and owing to the Borrower. |
Fixed Assets
- Leasehold
- Res. Flat and Cottage
- Furniture
- Plant and Machinery
- Computer
- Computer Software
- 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 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.45.09 |
|
|
1 |
Rs.72.82 |
|
Euro |
1 |
Rs.63.43 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
67 |
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.