MIRA
INFORM REPORT
|
Report Date : |
28.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
BACCAROSE PERFUMES AND BEAUTY PRODUCTS PRIVATE LIMITED |
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Registered
Office : |
66, Maker Chambers Vi Nariman Point, Mumbai – 400021, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
25.10.1983 |
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Com. Reg. No.: |
11-031189 |
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Capital Investment
/ Paid-up Capital : |
Rs.6.115 Millions |
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|
|
CIN No.: [Company Identification
No.] |
U24246MH1983PTC031189 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB13366D |
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PAN No.: [Permanent Account No.] |
AAACB2984M |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Cosmetics and Skincare Products |
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No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
|
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 |
|
Maximum Credit Limit : |
USD 2600000 |
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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 a well established and reputed company having fine track. Financial
position of the company appears to be sound. Trade relations are reported as
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.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Rajiv Sharma |
|
Designation : |
Office Executive |
|
Contact No.: |
91-9339528101 |
|
Date : |
25.02.2012 |
LOCATIONS
|
Registered Office/ Factory : |
66, Maker Chambers Vi Nariman Point, Mumbai – 400021, |
|
Tel. No.: |
91-22-22817766/22873732 |
|
Mobile No.: |
91-9339528101 (Mr. Rajiv Sharma) |
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Fax No.: |
91-22-22852780 |
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E-Mail : |
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Website : |
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Area : |
1500 sq.ft |
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Location : |
Owned |
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Branch Office : |
11/1, |
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Tel. No.: |
91-33-22805207 / 22805208 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Hemansu Karsandas Kotecha |
|
Designation : |
Director |
|
Address : |
109, |
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Date of Birth/Age : |
23.08.1949 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
09.05.1986 |
|
DIN No. : |
00532324 |
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|
|
|
Name : |
Mrs. Varsha Praful Dalal |
|
Designation : |
Whole-time Director |
|
Address : |
901, Pleasant Palace 16, |
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Date of Birth/Age : |
15.10.1946 |
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Qualification : |
Graduate |
|
Date of Appointment : |
25.10.1983 |
|
DIN No. : |
00179876 |
KEY EXECUTIVES
|
Name : |
Mr. Rajiv Sharma |
|
Designation : |
Office Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Sheth Kirtikant Dilip |
|
1 |
|
Sancerre Limited – |
|
61149 |
|
Total |
|
61150 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
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 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Cosmetics and Skincare Products |
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Brand Names : |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
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Facilities : |
Cash Credit: Rs.120.000 Millions (For HDFC Bank) (Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
B. S. Mehta and Company Chartered Accountant |
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Address : |
11/13, |
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Tel. No.: |
91-22-22661255/22660275/22665275/22660821/22661557 |
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PAN.: |
AAAFB6405G |
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Holding Company : |
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Subsidiaries : |
CIN: U24246MH1987PTC042415
CIN: U85110KA1992PLC013249 |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
|
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|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
61150 |
Equity Shares |
Rs.100/-
each |
Rs.6.115
Millions |
|
|
|
|
|
Note:
The entire share
capital is held by sancerre limited and its nominee.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
6.115 |
6.115 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
655.147 |
565.690 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
661.262 |
571.805 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
95.937 |
55.643 |
|
|
2] Unsecured Loans |
|
52.500 |
0.000 |
|
|
TOTAL BORROWING |
|
148.437 |
55.643 |
|
|
DEFERRED TAX LIABILITIES |
|
10.590 |
11.960 |
|
|
|
|
|
|
|
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TOTAL |
|
820.289 |
639.408 |
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|
|
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|
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APPLICATION OF FUNDS |
|
|
|
|
|
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|
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|
|
FIXED ASSETS [Net Block] |
|
75.562 |
79.786 |
|
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Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
163.743 |
84.945 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
571.225
|
673.305 |
|
|
Sundry Debtors |
|
879.987
|
786.309 |
|
|
Cash & Bank Balances |
|
43.925
|
6.603 |
|
|
Other Current Assets |
|
0.123
|
0.102 |
|
|
Loans & Advances |
|
321.336
|
210.018 |
|
Total
Current Assets |
|
1816.596 |
1676.337 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
951.437 |
693.521 |
|
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Other Current Liabilities |
|
206.924
|
487.396 |
|
|
Provisions |
|
77.251
|
20.743 |
|
Total
Current Liabilities |
|
1235.612 |
1201.66 |
|
|
Net Current Assets |
|
580.984
|
474.677 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
|
820.289 |
639.408 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
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Income |
|
1126.482 |
|
|
|
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Other Income |
|
96.504 |
|
|
|
|
TOTAL |
|
1222.986 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing expenses |
|
951.353 |
|
|
|
|
Increase/Decrease in stock |
|
116.514 |
|
|
|
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TOTAL |
|
1067.867 |
|
|
|
|
|
|
|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
155.119 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
7.787 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
147.332 |
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|
|
|
|
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|
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Less |
TAX |
|
43.548 |
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|
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PROFIT AFTER TAX
|
|
103.784 |
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|
|
|
|
|
|
|
|
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TOTAL EARNINGS |
|
511.003 |
|
|
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|
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|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
1697.20 |
|
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
|
8.49
|
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
13.08
|
NA |
|
|
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|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
7.79
|
NA |
|
|
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|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.22
|
NA |
|
|
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|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
2.09
|
2.20 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.47
|
1.39 |
LOCAL AGENCY FURTHER INFORMATION
THE DETAILS OF
SUNDRY CREDITORS:
Rs.
In Millions
|
Particulars |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
951.437 |
693.521 |
|
Total |
951.437 |
693.521 |
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
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4) Premises details |
Yes |
|
5) Type of Business |
Yes |
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6) Line of Business• |
Yes |
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7) Promoter’s background |
-- |
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8) No. of employees |
Yes |
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9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
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11) Turnover of firm for last two years |
No |
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12) Profitability for last three years |
No |
|
13) Reasons for variation <> 20% |
No |
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14) Estimation for coming financial year |
No |
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15) Capital in the business |
No |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
|
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
No |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
No |
|
28) Incorporation details, if applicable |
-- |
|
29) Last accounts filed at ROC |
-- |
|
30) Major Shareholders, if available |
-- |
Operations:
Sales during the year
amounted to Rs.1126.482 millions and Other Income was Rs.96.504 millions. After
considering decrease in stock of Rs.116.514 millions, the Total Income was
Rs.1106.471 millions. After providing for Depreciation of Rs.7.787 millions and
other Manufacturing Expenses etc. aggregating to Rs.951.353 millions, the
working for the year resulted in a Profit of Rs.147.331 millions. Adding
thereto sums of Rs.0.019 million being Depreciation Transferred from Capital
Reserve Account, Rs.1.370 million being amount adjusted during the year against
Deferred Tax (Assetniabi1ity) and Rs.0.064 million being Prior Period
Adjustments, and deducting there from a sum of Rs.45.000 millions being
provision for Current Tax, the Net Profit for the year was Rs.103.784 millions,
which is proposed to be carried forward.
During the year,
the Wind Turbine Generators installed in the State of
During the, the
Company became a partner in the Partnership Firm MIS. Producin Business
Services, sharing profit / loss at the rate of 90%. For the year ended
31.03.2010, the loss from the partnership firm was Rs.1.147 millions.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity
number of the company |
U24246MH1983PTC031189 |
|
Name of the
company |
BACCAROSE
PERFUMES AND BEAUTY PRODUCTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
66 Maker Chambers
Vinariman Point, Mumbai – 400021, |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10047439 |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
HDFC Bank
Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai – 400013, |
|
Nature of
instrument creating charge |
Memorandum of
Extension Of Mortgage |
|
Date of
instrument Creating the charge |
26.02.2009 |
|
Amount secured by
the charge |
Rs.120.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest @ 12.5%
P.A. Payable On Monthly Rests, Or Such Other Rate As May Be Stipulated By The
Bank From Time To Time. Terms of Repayment Repayable on
demand Margin
As May Be
Stipulated By The Bank From Time To Time. Extent and Operation of the charge First exclusive charge
on the office premises of the company. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
First Exclusive
Charge On Office Premises Situated At : |
|
Particulars of
the present modification |
By Way Of This
Modification, Existing Charge On
Office Premises At : Has Been Extended
To Cover Enhanced Limit Upto Rs.120.000 Millions |
Fixed Assets:
- Factory Buildings
- Other Buildings
- Plant and Machinery
- Wind Electric Generators
- Electrical Installation
- Furniture and Fixtures
- Equipments
- Air Conditioners
- Water Coolers and Refrigerators
- 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.49.05 |
|
|
1 |
Rs.77.78 |
|
Euro |
1 |
Rs.65.89 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
60 |
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.