|
Report Date : |
05.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
CHOLAYIL PRODUCTS AND SERVICES |
|
|
|
|
Registered
Office : |
Srijee Majestic, Plot No.6, II Floor, Along E Road, Koyambedu, Chennai
– 600107, Tamil Nadu |
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Country : |
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|
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Year of
Establishment : |
2007 |
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Capital
Investment / Paid-up Capital : |
Not Divulged |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
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Line of Business
: |
Manufacturer of Hand Made Soaps
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No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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 partnership concern having satisfactory track.
Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. The concern 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.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Gayathri |
|
Designation : |
Office Assistant |
|
Contact No.: |
91-44-42818063 |
|
Date : |
02.04.2012 |
LOCATIONS
|
Registered Office : |
Srijee Majestic, Plot No.6, II Floor, Along E Road, Koyambedu, Chennai
– 600107, Tamil Nadu, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
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E-Mail : |
|
|
Website : |
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|
|
|
Administrative Office / Factory : |
‘Cholayil’, No.1583, J-Block, 15th Main Road, Annanagar,
Chennai – 600040, Tamil Nadu, India |
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Tel. No.: |
91-44-43471800 |
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Fax No.: |
91-44-26161671 |
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E-Mail : |
PARTNERS
|
Name : |
Dr. A. V. Anoop |
|
Designation : |
Partner |
|
Brief Details : |
Managing
Director - AVA Cholayil Health Care Private Limited |
|
|
|
|
Name : |
Mrs. Priya Anoop |
|
Designation : |
Partner |
|
Brief Details : |
Director,
Spouse of Dr. A. V. Anoop, specialist in culinary arts and ^development of
recipes for Sanjeevanam Restaurant. |
|
|
|
|
Name : |
Mr. Vivek Venugopal |
|
Designation : |
Partner |
|
Brief Details : |
Director
(Business Development), Son-in-law of Dr A. V. Anoop having a Masters in
Business Administration (ISB) with varied /business interests and experience. |
|
|
|
|
Name : |
Mrs. Lanchana Vivek |
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Designation : |
Partner |
|
Brief Details : |
Director, Daughter
of Dr. A.V. Anoop, having completed Post Graduation in MSc-Management (UK)
and Bachelors Degree in Law. Her key focus is in developing Sanjeevanam
Ayurvedic treatment centre and restaurants. Compliance of all legal/statutory
related matters. |
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|
|
|
Name : |
Mrs. Pratheeksha Prasanth |
|
Designation : |
Partner |
|
Brief Details : |
Director,
Daughter of Dr. A. V. Anoop, having completed Bachelors Degree in Visual
Communication and pursuing PG in Fashion Technology. Involves in various projects
of Sanjeevanam. |
KEY EXECUTIVES
|
Name : |
Ms. Gayathri |
|
Designation : |
Office Assistant |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Hand Made Soaps
|
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Brand Names : |
“MEDIMIX” |
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Exports : |
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Products : |
Soaps |
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Imports : |
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Products : |
Chemicals |
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Countries : |
·
Europe ·
South Asia
|
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Terms : |
|
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Selling : |
L/C, Credit (30 Days) |
|
|
|
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Purchasing : |
L/C, Credit (30 Days) |
PRODUCTION STATUS
|
Particulars |
|
|
Installed
Capacity |
Actual
Production |
|
|
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|
|
|
Handmade Soaps Per Month |
|
|
500000 |
500000 |
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GENERAL INFORMATION
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Customers : |
Wholesalers and Retailers |
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|
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No. of Employees : |
200 (Approximately) |
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|
|
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Bankers : |
·
Axis Bank, Anna Nagar, Chennai, Tamil Nadu, India ·
ICICI Bank, Anna Nagar, Chennai, Tamil Nadu,
India |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
Not Available |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Divulged |
|
Borrowed : |
Not Divulged |
|
Total : |
Not Divulged |
FINANCIAL DATA
[all figures are
in Rupees Millions]
NOT DIVULGED
The above information has been declined by Ms. Gayathri.
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
LOCAL AGENCY FURTHER INFORMATION
This is a partnership firm.
The firm was started in the year 2007 to market the Cholayil's existing
products. In other words this is the marketing arm of the group. Now we have to
first understand the group so that we can know what this firm is marketing. Cholayilcare
is an illustrious and esteemed ayurvedic group from Kerala, which has a deep
history in providing holistic health care. The Cholayil group consists of:
1. Cholayil Prodcuts and Services
- It
markets the group's soaps - Medimix Bath Soap, Medimix Sandal Soap and Medimix
Transparent (Glycerine) which are the company's flagship brands. These products
are marketed to Hotels/Hospitals/lndustries at special subsidized prices, the
motivations for which is the tremendous visibility garnered and products trials
ensured. The institution sales department of CPS caters to more than 4000
hotels across the country. The soaps carry the hotels name and logo printed
behind the mini soap pack at no added cost. Deliveries are ensured right at the
customer's doorstep.
The firms advertisement in the
TV media is well known in South India. The TV advertisement appears every hour
or some channel or the other and they sponsor a lot of programs on the South
Indian language channels. In fact Medimix is a household name and is widely
used specially for its medicinal value. Made totally out of herbal extractions
the products are 100% allergy free and do not cause any harm to the skin.
The Brand equity survey on the
Most trusted Brands of India published by the Economic times dated 28the
September 2011 ranks MEDIMIX as the 87th leading brand among all
categories as against the 89th position in 2009 and has not entered
in Top 100 position in 2010. In addition to it Medimix has taken a step
forwarded and has taken the 17th position among the Personal care
products in India (earlier it was in the 18th position). Added to
the above Medimix has taken the 10the position among the most trusted Brands in
the Bangalore city.
The firm Cholayil Products
& Services is promoted by Dr A V Anoop, who is the Managing Director of AVA
Cholayil Health Care Pvt Ltd. The focus of CPS is to provide Products and
Services which benefit the human kind with the knowledge and time tested
procedures assimilated from the traditional system of Ayurveda, Naturopaty and
Yoga which has been followed in India from time immemorial. The handmade soaps
of Medimix Classic, Medimix Handwash are being marketed by CPS in the Southern
states of India namely Andhra Pradesh, Karnataka, Tamilnadu and Kerala.
2. AVA Cholayil Health Care Private Limited - This is the manufacturing
arm of the Group. They are responsible for the manufacture to the hand made
soaps that the CPS markets. Cholayil has the pride of manufacturing the largest
selling branded ayurvedic soap "Medimix". Dr V P Sidhan is the
founding father of the Medimix which is manufactured using a wholly
indigenously developed process with manual equipments, It is a handmade soap
which naturally hydrates the skin and makes it softer and healthier. The soap
is fortified with eighteen herbs uniquely blended to nourish and protect the
skin.
3. Cholayil Sanjeevanam - This is yet another feather
in the cap of Cholayilcare group. Cholayil Sanjeevanam represents total health
by integrating the principles of Ayurveda, Naturopathy and Yoga. Cholayil
Sanjeevanam is ISO 9001:2008 certified and commenced operations in July 2004.
Health and intellect are the two blessings of life. Sanjeevanam seamlessly
blends conventional and modern ayurvedic medicinal values based on the above inspirational
principle to provide a healthy body, mind and soul to mankind. The firm
consists of Treatment centers, Hair and face care units, Vegetarian health
restaurants, health products counters etc. The branches of Sanjeevanam has
centers all across India.
4. Cholayil Care Herbal Garden - In keeping with its
commitment to Ayurveda and health the Cholayil Care group has an exclusive
herbal garden attached to Cholayil Herbal Farm, which acts as a feeding center
for its R&D and for manufacturing activities. Cholayil care's farm is
spread across almost 40 acres enriched with fertile soil and water resources
fostering rare medicinal plants, herbs and ornamental species. The farm is
located at Vengal around 80 Kms from Chennai Airport. The farm serves as a haven
for research scholars and academicians let alone being a liked location for
nature admirers.
5. Cholayil Ayurvedic Health and Research Academy - Formerly known as
Sowparnika Ayurvedic Foundation for Research, health and Education, the
Cholayil Ayurvedic Health and Research Academy was born with the sole aim to
develop and provide a better quality of life through Ayurveda. Main objectives
of the foundation is the propagation of the basic principles of Ayurveda to the
whole world and encourage the younger generation to study and practice
Ayurveda.
The turnover for the group
exceeds Rs.1000.000 Millions. The firm is cash rich and loan free. Most reputed
brand in South India will sound business ethics and principles.
Trade References:
·
Hotel Taj Coromandel
Address: 17 Nugambakkam
High Road, Chennai – 600034, Tamil Nadu, India
Tel No.: 91-44-66002827
·
Apollo Hospital
Address: 21, Greams Lane,
Off Greams Road, Chennai – 600006, Tamil Nadu, India
Tel No.: 91-44-28293333 /
28290200
Fax No.: 91-44-2834429
·
ITC Windsor, Bangalore
Address: 25, Windsor
Square, Golf Course Road, Bangalore – 560052, Karnataka, India
Tel No.: 91-80-22269898
Fax No.:91-80-22264941
·
Te Residency
Address: Avinash Road,
Coimbatore, Tamil Nadu, India
Tel No.: 91-422-2241414
Press Release:
Cholayil Private Limited (CPL), a
Chennai-based Rs1000.000 millions FMCG company, today announced the acquisition
of Krishna Thulasi, a leading herbal soap brand owned by Krishna Herbals based
in Kollam.
Announcing this, VS Pradeep, managing
director, said the company had targeted a total turnover of Rs 505 crore over
the next five years, from the current level of Rs.1000.000 Millions. However,
he did not divulge the value of the latest acquisition.
CPL had acquired one of Kerala's oldest brands
of talcum powder and soap, Cuticura, in 2001, which now has 15 per cent market
share in the Kerala market. The company has also planned to launch a number of
beauty and cosmetic products like hair cream and face cream shortly. It will
also launch a low-price soap brand, My Sop, for markets like Maharashtra and
Uttar Pradesh.
Addressing a press conference on Monday,
Pradeep said that all the Krishna Thualsi brand products, like soap, face gel
and shampoo would continue with the same brand tag. The prices and the
packaging would also be the same for the time being and the company would
change these based on market response. The products will be produced at its
manufacturing facilities at Tada in Andhra Pradesh and Haridwar in Uttrakhand.
With a turnover of Rs.50.000 Millions, Krishna
Thulasi is one of south India's admired brands of herbal soap and other
personal care products like herbal shampoo and face beauty gel.
With the new brand's presence in the herbal soap
segment, it would be a strategic best fit with the company's product range,
Pradeep said. The soap is being marketed in the south and would also be
exported to countries like Malaysia and the Gulf countries.
This brand will leverage our export potential
especially in the West Asian markets, he said. Medimix, the flagship brand of
Cholayil, is currently exported to around 25 countries.
Pradeep said the product portfolio under the
Cuticura brand would be extended to other segments and categories soon. The
group has also ventured into Ayurvedic treatment segment by opening the first
treatment centre, Sadayush, at Mylapore near Chennai, and plans to open more
during next year.
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.51.05 |
|
|
1 |
Rs.81.09 |
|
Euro |
1 |
Rs.67.39 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
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.