MIRA
INFORM REPORT
|
Report Date : |
07.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
PARLE PRODUCTS PRIVATE LIMITED |
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Registered
Office : |
North Level Crossing, Vile Parle (East), Mumbai – 400057, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
09.12.1950 |
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Com. Reg. No.: |
11-008334 |
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Capital Investment
/ Paid-up Capital : |
Rs.19.410
millions |
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CIN No.: [Company Identification
No.] |
U15400MH1950PTC008334 |
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|
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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Line of Business
: |
Manufacturer of Biscuits and
Allied Products. |
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No. of Employees
: |
3000 (Approximately) |
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 |
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Maximum Credit Limit : |
USD 9030000 |
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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
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.
INFORMATION PARTED BY
|
Name : |
Mr. Gowde |
|
Designation : |
Account Manager |
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Contact No. : |
91-22-66916911 |
|
Date : |
05.01.2012 |
LOCATIONS
|
Registered Office/ Factory 1: |
North Level Crossing, Vile Parle (East), Mumbai – 400057, |
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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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Location : |
Owned |
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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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Factory 3 : |
SP-2/4 RIICO Industrial Area, |
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Factory 4 : |
36, |
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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 |
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Tel. No.: |
91-80-28398825 / 28372807 |
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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: ·
Mumbai ·
·
·
Kolkata |
DIRECTORS
As On 29.09.2011
|
Name : |
Mr. Vijay Kantilal Chauhan |
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Designation : |
Managing Director |
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Address : |
Kanila, |
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Date of Birth/Age : |
26.12.1936 |
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Qualification: |
B.S.-Worcester Polytechnic Institute, |
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Experience : |
49 Years |
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Date of Appointment : |
26.09.2001 |
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DIN No. : |
00290771 |
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Name : |
Mr. Sharad Pitamber Chauhan |
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Designation : |
Managing Director |
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Address : |
Purnima, |
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Date of Birth/Age : |
26.10.1944 |
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Qualification : |
B.S.- Massachussets Institute of |
|
Experience : |
44 Years |
|
Date of Appointment : |
26.09.2001 |
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DIN No. : |
00290803 |
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Name : |
Mr. Raj Kantilal Chauhan |
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Designation : |
Managing Director |
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Address : |
Kanila, |
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Date of Birth/Age : |
22.09.1946 |
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Qualification : |
B.S. Worcester Polytechnic Institute, |
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Experience : |
41 Years |
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Date of Appointment : |
26.09.2001 |
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DIN No. : |
00290785 |
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Name : |
Mr. Ajay Vijay Chauhan |
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Designation : |
Director |
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Address : |
Kanila, |
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Date of Birth/Age : |
21.07.1965 |
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Qualification : |
B.S. (Mech. Engg.) |
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Experience : |
21 Years |
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Date of Appointment : |
26.09.2001 |
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DIN No. : |
00290837 |
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|
|
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Name : |
Mr. Arup Sharad Chauhan |
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Designation : |
Director |
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Address : |
Purnima, |
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Date of Birth/Age : |
23.06.1975 |
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Qualification : |
B.Com, Mumbai |
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Experience : |
15 Years |
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Date of Appointment : |
22.08.2003 |
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DIN No. : |
00290834 |
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Name : |
Mr. |
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Designation : |
Director |
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Address : |
Purnima, |
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Date of Birth/Age : |
26.06.1979 |
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Qualification: |
B.Com, Mumbai, MBA |
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Experience : |
9 Years |
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Date of Appointment : |
26.09.2007 |
|
DIN No. : |
00290852 |
KEY EXECUTIVES
|
Name : |
Mr. Gowde |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 29.09.2011
|
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 |
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Pitamber Mohanla Sharad Pitamber Chauhan Madhuri Sharad Sheth |
|
3332 |
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Sharad Pitamber Chauhan Madhuri Sharad Sheth Vijay Kantilal Chauhan |
|
1800 |
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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 |
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Nila Kantilal Vijay Kantilal Chauhan Raj Kantilal Chauhan |
|
3524 |
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Vijay Kantilal Chauhan Shakuntala Vijay Chauhan |
|
6404 |
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Raj Kantilal Chauhan Nina Raj Chauhan |
|
6946 |
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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 |
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Kantilal Mohanlal Vijay Kantilal Chauhan Raj Kantilal Chauhan |
|
3000 |
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Kantilal Mohanlal Vijay Kantilal Chauhan Sharad Pitamber Chauhan |
|
3000 |
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Shakuntala Vijay Chauhan Ajay Vijay Chauhan Arup S Chauhan |
|
3460 |
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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 29.09.2011
|
Equity Share
Breakup Category |
Percentage |
|
Directors or relatives of Directors |
71.44 |
|
Other top fifty shareholders |
28.56 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Biscuits and
Allied Products. |
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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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Products : |
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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 : |
Advance |
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Purchasing : |
Advance |
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Biscuits |
M.T |
NA |
136642.080 |
370052.891 |
|
Confectionery |
M.T |
NA |
10409.000 |
3983.459 |
|
Atta |
M.T |
NA |
NA |
388.220 |
|
Power generated from windmill |
KWH |
7200 |
7200.000 |
8628300.000 |
|
Power generated from lignite |
KWH |
1500 |
- |
- |
|
Printed laminated wrappers |
M.T |
NA |
3600.000 |
2978.039 |
|
C. Boxes |
Nos |
NA |
7800,000.000 |
6842125.000 |
Notes:
1) Installed capacity is in respect of the
company’s own manufacturing units and does not includes capacity of contract
manufacturers
2) Production includes production of company’s own
manufacturing units as well as production for the company by its contract
manufactures
3) Including 36707.521 M.T. manufactured by
contract manufacturing units. (Previous year 328481.270 M.T.)
4) Including Nil M.T. manufactured by contract
manufacturing units. (Previous year 14754.265 M.T.)
5) Including 388.220 M.T. manufactured by contract
manufacturing units. (Previous year 175.114 M.T.)
6) Excludes 18300.000 KW (Previous year 34,821.000
KW) on account of transmission loss, wheeling charges
7) Licensed capacity is as approved by Maharashtra Energy
Development Agency on 100% utilisation basis.
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers |
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No. of Employees : |
3000 (Approximately) |
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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 : |
S A Buhariwalla and Associates Chartered Accountant |
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Address : |
201/203, Konark Classic, |
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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 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
372,900 |
Equity Share |
Rs.100/- Each |
Rs. 37.290 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
194,100 |
Equity Share |
Rs.100/- Each |
Rs.19.410
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
19.410 |
19.410 |
19.410 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2238.879 |
2231.781 |
2391.584 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2258.289 |
2251.191 |
2410.994 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
148.870 |
465.002 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
148.870 |
465.002 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
13.641 |
|
|
|
|
|
|
|
|
TOTAL |
2407.159 |
2716.193 |
2424.635 |
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
858.730 |
960.558 |
1115.814 |
|
|
Capital work-in-progress |
68.891 |
46.835 |
100.387 |
|
|
|
|
|
|
|
|
INVESTMENT |
1447.402 |
1122.292 |
244.823 |
|
|
DEFERREX TAX ASSETS |
44.704 |
34.884 |
0.000 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1371.570
|
1329.243
|
1104.839
|
|
|
Sundry Debtors |
318.999
|
230.731
|
346.721
|
|
|
Cash & Bank Balances |
132.838
|
223.200
|
136.746
|
|
|
Other Current Assets |
5.468
|
7.738
|
3.874
|
|
|
Loans & Advances |
1115.422
|
1253.247
|
1516.243
|
|
Total
Current Assets |
2944.297
|
3044.159
|
3108.423 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1178.081 |
1093.048 |
1223.484 |
|
|
Other Current Liabilities |
1714.329
|
1330.323
|
868.836
|
|
|
Provisions |
64.455
|
69.164
|
52.492
|
|
Total
Current Liabilities |
2956.865
|
2492.535
|
2144.812
|
|
|
Net Current Assets |
[12.568]
|
551.624
|
963.611
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2407.159 |
2716.193 |
2424.635 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
|
|
TURNOVER (NET) |
18245.980 |
18760.017 |
17673.308 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
The Profit for the year after meeting all expenses and providing
for Depreciation, Gratuity Fund and Taxation etc. |
209.481 |
212.864 |
21.758 |
|
|
|
|
|
|
|
|
|
Add/ Less |
Tax Adjustment of prior year income tax |
32.329 |
[132.765] |
[6.070] |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
241.810 |
80.099 |
15.688 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
26.242 |
210.714 |
503.812 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
Transfer to General Reserve |
24.182 |
29.081 |
51.950 |
|
|
|
Interim Dividend |
201.282 |
201.282 |
219.527 |
|
|
|
Corporate
Dividend tax |
33.430 |
34.208 |
37.309 |
|
|
|
BALANCE CARRIED
TO THE B/S |
9.158 |
26.242 |
210.714 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
- |
624.254 |
962.709 |
|
|
|
Royalty |
- |
8.393 |
17.152 |
|
|
TOTAL EARNINGS |
NA |
632.647 |
979.861 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
593.173 |
801.876 |
302.158 |
|
|
|
Stores & Spares |
0.253 |
1.042 |
0.469 |
|
|
|
Packing Materials |
0.000 |
13.192 |
0.000 |
|
|
|
Capital Goods |
3.087 |
5.662 |
9.301 |
|
|
TOTAL IMPORTS |
596.513 |
821.772 |
311.928 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1287.48 |
899.41 |
111.96 |
|
Expected Sales (2011-2012) : Rs.30000.000 millions
The above information has been parted by Mr Gowde [Account Manager]
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PAT/Total Income) |
(%) |
1.32
|
0.43
|
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.37
|
1.31
|
0.89 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.99
|
1.22
|
1.45 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
|
Particulars |
31.03.2011 Rs.
in millions |
31.03.2010 Rs.
in millions |
31.03.2009 Rs.
in millions |
|
Creditors due small micro enterprises |
0.000 |
0.000 |
0.000 |
|
Creditors due others |
1178.081 |
1093.048 |
1223.484 |
|
Total |
1178.081 |
1093.048 |
1223.484 |
|
Check List by Info Agents |
Available in Report [Yes/No] |
|
Year of Establishment |
Yes |
|
Locality of the Firm |
Yes |
|
Construction of the firm |
Yes |
|
Premises details |
Yes |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoters background |
- |
|
No. of Employees |
Yes |
|
Name of Person Contacted |
Yes |
|
Designation of contact
person |
Yes |
|
Turnover of firm for last
one years |
Yes |
|
Profitability for last
three years |
No |
|
Reasons for variation
<> 20% |
- |
|
Estimation for coming
financial year |
Yes |
|
Capital the business |
No |
|
Details of sister
concerns |
Yes |
|
Major Suppliers |
Yes |
|
Major Customers |
No |
|
Payment Terms |
Yes |
|
Export / Import Details
[If Applicable] |
Yes |
|
Market Information |
- |
|
Litigations that the firm
/ promoter involved in |
- |
|
Banking Details |
Yes |
|
Banking Facility Details |
No |
|
Conduct of the banking
account |
- |
|
Buyer visit details |
- |
|
Financials, if provided |
No |
|
Incorporation details, if
applicable |
- |
|
Last accounts filed at
ROC |
- |
|
Major Shareholders, if
applicable |
- |
NOTE: Registered Office of the company has been
shifted from V.S. Khandekar Marg, Vile Parle (East), Mumbai – 400057,
OPERATIONS - The sales for the
year is Rs.18245.980 millions as compared to previous year’s sales of Rs.
18760.017 millions showing a decrease of 2.74% in sales.
The profit after taxation and depreciation is Rs.241.810 millions as
compared to Rs.80.100 millions for the previous year.
EXPORTS : Export sales during the year ended on 31st March, 2011 amounted to Rs.973.810 millions (previous year Rs.624.254 millions) on F.O.B. basis. Every effort is being made to develop overseas market for Company’s products.
PROSPECTS - Operations so far this year are satisfactory and we hope to improve their sales in the current year.
SUBSIDIARY COMPANIES
i) Parle Biscuits
Private Limited
The sales of the Subsidiary Company for the year ended 31st March, 2011 aggregated to Rs.40045.901 millions as against Rs.28371.910 millions during the previous year. As may be observed from the annexed Balance Sheet of the Subsidiary Company, the operation resulted in a Profit (Before Tax) of Rs.1570.335 millions as against the profit of Rs.1506.041 millions during the preceding year.
ii) Triad Foods
Private Limited
During the year the Board of Directors of Triad Foods Private Limited have made an application to Registrar of Companies for getting the name of the Triad Foods Private Limited struck off the Register under Section 560 of the companies Act, 1956 through Easy Exit Scheme, 2011. The Company received an Intimation dated 20.06.2011 stating that pursuant to sub section (5) of Section 560 of the Companies Act, 1956 the name of Triad Foods Private Limited has been struck off the Register and the said Company is dissolved.
iii) Arctic Biscuits
Private Limited ,
Arctic Biscuits Private Limited is a Company incorporated on
10.12.2003 in
iv) Parlite Foods
Parlite Foods Sarl is a Company incorporated on 7.06.2005 in
v) Pardee Foods
Nigeria Limited
Pardee Foods Nigeria Limited is a Company incorporated on
27.01.2005 in
vi) Antarctic Biscuit
Private Limited
Antarctic Biscuit Private Limited is a Company incorporated
on 21.11.2008 in
company has reported a profit of 91,09,705 NPR (after tax)
for the period 1.04.2010 to 31.03.2011 compared to last year loss of 3,77,875
NPR. The sales turn over is 8,65,51,427 NPR against last year sales turnover of
NIL NPR.
Contingent
Liabilities :
|
Particulars |
31.03.2011 Rs.
in millions |
31.03.2010 Rs.
in millions |
|
A] Income tax These represent demands raised by income tax authorities
in respect of excess consumption disallowed on the basis of standard yield,
sales promotion expenses and other matters for which disputes are pending
before appellate authorities. The Company is confident that the cases will be
successfully contested. |
528.345 |
520.201 |
|
b) Sales tax (1.) Demands raised by sales tax authorities in respect of
disallowance of freight and / or set off claim on form 15 purchases, Entry Tax
and interest thereon in respect of which disputes are pending before
appellate authorities. The company is confident that the cases will be
successfully contested. (2.) Demands raised by the Gujarat Sales Tax authorities in respect of
sales tax alleged to have been short paid on sales of biscuits, wrapper and
scrap. We are informed that the company is in the process of filing an appeal
in the matter before the Honourable Supreme Court. (3.) Demands raised by the Central Sales Tax authorities, (4.) Demands raised by the Commercial Taxes Department, |
68.089 46.593 -- 51.179 |
8.299 46.593 34.088 51.179 |
|
c) Entry tax (1.) Demand raised by Commercial Tax Officer, |
-- |
0.899 |
|
d) Excise duty / Service tax (1.) These represent demands raised by excise authorities in respect
of inadmissibility of input credits on packing material, valuation and
Service Tax Cenvat Credit issues in respect of which disputes are pending
before appellate authorities. The Company is confident that the cases will be
successfully contested. (2.) Show cause notices recieved from the office of the Commissioner
and Additional Commissioner of Excise, |
519.641 10.928 |
372.878 10.426 |
|
e) Employees' State Insurance (1.) Demand raised by Employees State Insurance Corporation, |
-- |
23.820 |
|
f) International Swaps and Derivative transactions (1.) With the object of hedging its risks associated with foreign
currency fluctuations, the company has entered into contracts for sale of
foreign currency over varying periods upto 31st March 2013. The aggregate
amount of such contracts outstanding as at 31st March 2011 is USD
1,32,50,000. Future liability / loss on account of inability to meet the
commitments due to possible inadequacy of export orders / realizations, change in exchange rates etc. cannot be
ascertained. |
0.072 |
0.072 |
|
g) Claims against the Company not acknowledged as debts |
4.542 |
19.451 |
|
h) Guarantees furnished by banks |
40.625 |
6.764 |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U15400MH1950PTC008334 |
|
Name of the
company |
PARLE PRODUCTS PRIVATE 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 |
Nil Outstanding
Confirmation of Kotak Mahindra Bank |
|
Date of instrument
Creating the charge |
18.05.2011 |
|
Amount secured by
the charge |
Rs.1000.000
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 - As per sanction letter Margin - As per
sanction letter 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 |
All current
assets both present and future of the borrower. |
|
Date of
instrument modifying the charge |
25.03.2010 |
|
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, 11/01/2010 and 25/03/2010. Now
Letter of Credit and Buyers Credit
(Sub-limit) facility of Rs.1000.000 millions has been repaid as per attach
bank NOC letter and said charge is now
accordingly modified and reduced to the revised total facilities of
Rs.1000.000 millions. |
|
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 |
|
|
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
- Office Equipment
- 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.52.78 |
|
|
1 |
Rs.82.33 |
|
Euro |
1 |
Rs.68.19 |
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.