MIRA
INFORM REPORT
|
Report Date : |
27.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
PERFETTI VAN MELLE INDIA PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
47th Milestone, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
26.06.1992 |
|
|
|
|
Com. Reg. No.: |
05-036116 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.495.536 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909HR1992PTC036116 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RTKP04072F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP2626A |
|
|
|
|
TAN No : |
33451602769 |
|
|
|
|
CST No : |
797709 Dated 07.10.94 |
|
|
|
|
ECC No : |
AAACP2626AXM002 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Marketer of Confectionery Products, including Chewing
Gums and Toffees. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
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 14770000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a
subsidiary of Perfetti Van Melle Holding B.V., The Netherlands. It is a well established
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 normal 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office / Factory 1 : |
47th Milestone, |
|
Tel. No.: |
91-124-2290337/ 2290341 |
|
Fax No. : |
91-124-2290342 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
1st Floor , Tower A, Global |
|
Tel. No.: |
91-124-3079171 |
|
Fax No.: |
91-124-2803212 |
|
|
|
|
Factory 2 : |
Chennai Factory No.7, |
|
|
|
|
Factory 3 : |
Rudrapur Factory Plot No.14/B, Sector 9, Integrated Industrial Estate, Pant Nagar,
Rudrapur- 263 153, District – Udham Singh Nagar, |
|
Tel. No.: |
91-5911-245874 |
|
|
|
|
Sales Office : |
Located at: v North Branch : Gurgaon v
South Branch : v East Branch : Kolkata v West Branch : Mumbai |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Parasmal Shikhermal Surana |
|
Designation : |
Director |
|
Address : |
224, |
|
Date of Birth/Age : |
25.01.1949 |
|
Date of Appointment : |
16.12.2002 |
|
DIN No.: |
00023553 |
|
|
|
|
Name : |
Mr. Abhey Yograj |
|
Designation : |
Director |
|
Address : |
N – 94, |
|
Date of Birth/Age : |
01.09.1943 |
|
Date of Appointment : |
26.06.1992 |
|
DIN No.: |
00029998 |
Other Directorship:
|
.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U99999DL1988PLC032421 |
CORETEC
HYGIENE PRODUCTS LIMITED |
Director |
12-07-88 |
12-07-88 |
- |
Active |
NO |
|
2 |
U51101DL1989PTC035109 |
TECNOVA
OVERSEAS PRIVATE LIMITED |
Director |
17-02-89 |
17-02-89 |
- |
Active |
NO |
|
3 |
U74899DL1989PTC035583 |
IDEATEC
TECHNOLOGIES PRIVATE LIMITED. |
Director |
27-03-89 |
27-03-89 |
- |
Active |
NO |
|
4 |
U74899DL1992PLC048310 |
ZAFFIRO
FASHION LIMITED |
Director |
10-04-92 |
10-04-92 |
01-10-09 |
Active |
NO |
|
5 |
U51909HR1992PTC036116 |
PERFETTI
VAN MELLE INDIA PRIVATE LIMITED |
Director |
26-06-92 |
26-06-92 |
- |
Active |
NO |
|
6 |
U85190MH1991PTC060363 |
L'OREAL
INDIA PRIVATE LIMITED |
Director |
17-03-95 |
17-03-95 |
- |
Active |
NO |
|
7 |
U29299DL1984PTC018517 |
TECNOVA
INDIA PRIVATE LIMITED |
Managing
director |
22-03-06 |
12-07-98 |
- |
Active |
NO |
|
8 |
U72200PN1988PLC015974 |
INDIACOM
LIMITED |
Director |
05-05-00 |
05-05-00 |
- |
Active |
NO |
|
9 |
U85195DL1998PTC094403 |
BIOMERIEUX
INDIA PRIVATE LIMITED |
Director |
22-01-01 |
22-01-01 |
18-07-11 |
Active |
NO |
|
10 |
U32109MH2005PTC192559 |
SICK
INDIA PRIVATE LIMITED |
Director |
23-02-05 |
23-02-05 |
26-02-10 |
Active |
NO |
|
11 |
U24246DL2003PTC120118 |
MOUNTAIN
VALLEY SPRINGS INDIA PRIVATE LIMITED |
Director |
31-10-05 |
31-10-05 |
30-06-07 |
Active |
NO |
|
12 |
U72900KA2006PTC049744 |
SEMCON
INDIA PRIVATE LIMITED |
Director |
17-03-06 |
17-03-06 |
01-04-07 |
Active |
NO |
|
13 |
U24111DL2006PTC148398 |
SURTEC
CHEMICALS INDIA PRIVATE LIMITED |
Director |
09-05-07 |
02-05-06 |
30-08-07 |
Active |
NO |
|
14 |
U35914JH2006PTC014951 |
JOST
INDIA AUTO COMPONENT PRIVATE LIMITED |
Director |
15-10-07 |
19-07-06 |
01-10-08 |
Active |
NO |
|
15 |
U27310TN2006PLC065084 |
ASHLEY
ALTEAMS INDIA LIMITED |
Director |
09-10-06 |
09-10-06 |
20-09-07 |
Active |
NO |
|
16 |
U24110AP1993PLC015470 |
SHANTHA
BIOTECHNICS LIMITED |
Director |
26-09-07 |
07-11-06 |
31-08-09 |
Active |
NO |
|
17 |
U36900MH2007PTC170839 |
ROQUETTE
INDIA PRIVATE LIMITED |
Director |
15-05-07 |
15-05-07 |
- |
Active |
NO |
|
18 |
U34300TN2008PTC069239 |
KOSTAL
NTTF AUTOMOTIVE |
Director |
11-09-08 |
11-09-08 |
18-09-08 |
Active |
NO |
|
19 |
U32109DL2008PTC184570 |
ALIGNMENT
SYSTEMS INDIA PRIVATE LIMITED |
Director |
31-10-08 |
31-10-08 |
- |
Active |
NO |
|
20 |
U74900DL2009PTC192419 |
CAME
INDIA AUTOMATION SOLUTIONS PRIVATE LIMITED |
Director |
21-07-09 |
21-07-09 |
22-09-09 |
Active |
NO |
|
21 |
U25203DL2009PTC196673 |
DATWYLER
PHARMA PACKAGING INDIA PRIVATE LIMITED |
Director |
05-12-09 |
05-12-09 |
07-01-11 |
Active |
NO |
|
22 |
U74900DL2010PTC198415 |
AMAAYA
RETAIL PRIVATE LIMITED |
Director |
28-01-10 |
28-01-10 |
- |
Active |
NO |
|
23 |
U40107DL2010FTC203690 |
AHLSTROM
CAPITAL SOLAR PRIVATE LIMITED |
Director |
05-06-10 |
05-06-10 |
30-08-11 |
Active |
NO |
|
24 |
U52300DL2011PTC224211 |
CHRISTIAN
LOUBOUTIN INDIA PRIVATE LIMITED |
Director |
26-08-11 |
26-08-11 |
- |
Active |
NO |
|
25 |
U74999DL1985PTC022278 |
TECNOVA
CONSULTING PRIVATE LIMITED |
Director |
04-10-11 |
04-10-11 |
- |
Converted
to LLP and dissolved |
NO |
|
26 |
AAA-7746 |
TECNOVA
CONSULTING LLP |
- |
24-01-12 |
24-01-12 |
- |
Active |
NO |
|
27 |
AAA-7746 |
TECNOVA
CONSULTING LLP |
- |
24-01-12 |
24-01-12 |
- |
Active |
NO |
|
Name : |
Mr. Stefeno Pelle |
|
Designation : |
Chairman Cum Director |
|
Address : |
Al Barsha lll, Plot 375, Street No.22C, Villa No.38, Dubai (AE) |
|
Date of Birth/Age : |
19.02.1964 |
|
Date of Appointment : |
17.04.2006 |
|
DIN No.: |
00088104 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U51909HR1992PTC036116 |
PERFETTI
VAN MELLE INDIA PRIVATE LIMITED |
Director |
17-04-06 |
01-02-99 |
Active |
NO |
|
2 |
U55201DL2006PTC149717 |
RESTITALIA
RESTAURANTS PRIVATE LIMITED |
Director |
14-06-06 |
14-06-06 |
Under
Process of Striking off |
NO |
|
3 |
U74140DL2005PTC141088 |
S P
ASSOCIATES MANAGEMENT CONSULTANTS PRIVATE LIMITED |
Director |
21-08-06 |
21-08-06 |
Active |
NO |
|
Name : |
Mr. Sameer Suneja |
|
Designation : |
Managing Director |
|
Address : |
H.No. – 48, Club Road, North West Avenue, Punjabi Bagh Extension, New
Delhi – 110026, India |
|
Date of Birth/Age : |
12.08.1971 |
|
Date of Appointment : |
01.02.2008 |
|
DIN No.: |
02104440 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U51909HR1992PTC036116 |
PERFETTI
VAN MELLE INDIA PRIVATE LIMITED |
Director |
18-09-08 |
01-02-08 |
Active |
NO |
|
2 |
U36996HR2011PTC042004 |
TARGET
CREATIVE SOLUTIONS INDIA PRIVATE LIMITED |
Director |
03-02-11 |
03-02-11 |
Active |
NO |
|
Name : |
Mr. Harsh Kumar Arora |
|
Designation : |
Director |
|
Address : |
12 / 6, Punjabi Bagh, |
|
Date of Birth/Age : |
27.08.1959 |
|
Date of Appointment : |
11.06.2007 |
|
DIN No.: |
00132859 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U55201DL2006PTC149717 |
RESTITALIA
RESTAURANTS PRIVATE LIMITED |
Director |
14-06-06 |
14-06-06 |
Under
Process of Striking off |
NO |
|
2 |
U51909HR1992PTC036116 |
PERFETTI
VAN MELLE INDIA PRIVATE LIMITED |
Director |
27-09-07 |
11-06-07 |
Active |
NO |
|
3 |
U36996HR2011PTC042004 |
TARGET
CREATIVE SOLUTIONS INDIA PRIVATE LIMITED |
Director |
03-02-11 |
03-02-11 |
Active |
NO |
|
Name : |
Mr. Massimo Terrevazzi |
|
Designation : |
Director |
|
Address : |
Minister Nelissenstraat 2, 4818 HT, |
|
Date of Birth/Age : |
11.05.1962 |
|
Date of Appointment : |
17.04.2006 |
|
DIN No.: |
00813536 |
KEY EXECUTIVES
|
Name : |
Mr. Harsh Arora |
|
Designation : |
Company Secretary |
|
Address : |
12/6, Punjabi Bagh, |
|
Date of Birth/Age : |
27.08.1959 |
|
Date of Appointment : |
11.06.2007 |
|
PAN No.: |
ABNPA2171N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Stefano Pelle |
1 |
|
Gian Luca Brusoni |
1 |
|
Perfetti Van Mille Holding B.V., |
49553498 |
|
Van Melle International Trust B.V., |
100 |
|
Euraffair International B.V., |
1 |
|
Total |
49553601 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Marketer of Confectionery Products, including Chewing
Gums and Toffees. |
||||||||||
|
|
|
||||||||||
|
Products : |
|
||||||||||
|
|
|
||||||||||
|
Brand Names : |
STOP NOT |
PRODUCTION STATUS (AS ON 31.03.2011)
Licensed capacity,
installed capacity:
The Company is not subject to industrial licensing and hence, the
licensed capacity clause is not applicable. The installed capacity is 113,880
tons.
|
Particulars |
Unit |
Actual
Production |
|
Confectionery |
In Kgs |
75662899 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
7th Floor, Building 10, Tower B, |
|
Tel. No.: |
91-124-6792000 |
|
Fax No.: |
91-124-6792012 |
|
PAN No.: |
AABFD2095B |
|
|
|
|
Holding Company : |
Perfetti Van Melle
Holding B.V., |
|
|
|
|
Ultimate Holding Company : |
Perfetti Van |
|
|
|
|
Fellow Subsidiaries : |
v Perfetti Van
Melle Italia, S.r.L v Gum Base Company
v Perfetti Van
Melle Phils., Inc. v Perfetti Van Melle
Benelux B.V v Perfetti Van
Melle USA Inc. v Van Melle AG. v PT Perfetti v La Giulia S.p.A v Chupa Chups
S.A.U Barcelona-Espana v Perfetti Van
Melle v Perfetti Van
Melle Bangladesh Private Limited v Perfetti Van
Melle Confectionery (Shenzhen) Company Limited v Perfetti Van
Melle Polska Sp.z.o.o |
|
|
|
|
Associates : |
Swathi Eco Gen
Private Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
65000000 |
Equity Shares |
Rs.10/- each |
Rs.650.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
49553600 |
Equity Shares |
Rs.10/- each |
Rs.495.536
Millions |
|
|
|
|
|
Note:
(Of the above
49,553,498 shares equity shares are held by Perfetti Van Melle Holding B.V.,
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 |
495.536 |
495.536 |
495.536 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
3197.429 |
2279.504 |
1574.762 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3692.965 |
2775.040 |
2070.298 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3692.965 |
2775.040 |
2070.298 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1556.634 |
1440.517 |
1257.781 |
|
|
Capital work-in-progress |
505.824 |
173.703 |
47.646 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
2.600 |
|
|
DEFERRED TAX ASSETS |
214.191 |
178.645 |
113.712 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1265.723
|
909.176
|
736.635 |
|
|
Sundry Debtors |
105.327
|
74.741
|
79.833 |
|
|
Cash & Bank Balances |
1559.546
|
1290.017
|
970.808 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
1067.154
|
698.056
|
414.979 |
|
Total
Current Assets |
3997.750
|
2971.990 |
2202.255 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1137.184
|
626.928
|
511.381 |
|
|
Other Current Liabilities |
713.631
|
852.044
|
670.883 |
|
|
Provisions |
730.619
|
510.843
|
371.432 |
|
Total
Current Liabilities |
2581.434
|
1989.815 |
1553.696 |
|
|
Net Current Assets |
1416.316
|
982.175
|
648.559 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3692.965 |
2775.040 |
2070.298 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
|
|
|
Income |
12980.000 |
10340.000 |
8357.700 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
12980.000 |
10340.000 |
8357.700 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
9700.100 |
7859.900 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
12125.600 |
9700.100 |
7859.900 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
854.400 |
639.900 |
497.800 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(35.400) |
(64.800) |
1.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
889.800 |
704.700 |
496.600 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
|
137.848 |
153.480 |
130.734 |
|
|
|
|
|
0.292 |
2.043 |
|
|
TOTAL EARNINGS |
137.848 |
153.772 |
132.777 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Finished Goods |
19.443 |
3.485 |
3.233 |
|
|
|
Raw Materials |
1003.210 |
795.784 |
530.301 |
|
|
|
Components, Stores and Spares |
16.556 |
7.988 |
9.955 |
|
|
|
Capital Goods |
358.620 |
245.280 |
84.766 |
|
|
TOTAL IMPORTS |
1397.829 |
1052.537 |
628.255 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
18.45 |
14.22 |
9.70 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
6.86
|
6.82 |
5.94 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.81
|
13.94 |
14.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.23 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.70
|
0.72 |
0.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.55
|
1.49 |
1.42 |
LOCAL AGENCY FURTHER INFORMATION
PURCHASE DETAILS:
|
Particulars |
31.03.2011 (Rs.
in millions) |
31.03.2010 (Rs.
in millions) |
31.03.2009 (Rs.
in millions) |
|
Traded Goods |
|
|
|
|
Confectionery |
110.287 |
5.272 |
7.578 |
|
Flavors |
0.000 |
0.000 |
5.559 |
|
Others (including spares)** |
0.000 |
0.000 |
7.926 |
|
Mechanting Trade |
|
|
|
|
Confectionery |
11.083 |
0.000 |
0.000 |
|
Total |
121.370 |
5.272 |
21.063 |
** It is not practicable to furnish quantitative information in view of
the considerable number of items diverse in size and nature.
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1. Year of Establishment |
Yes |
|
2. Locality of the firm |
Yes |
|
3. Constitution of the firm |
Yes |
|
4. Premises details |
No |
|
5. Type of Business |
Yes |
|
6. Line of Business |
Yes |
|
7. Promoter’s background |
Yes |
|
8. No. of Employees |
No |
|
9. Name of person contacted |
No |
|
10. Designation of contact person |
No |
|
11. Turnover of firm for last three years |
Yes |
|
12. Profitability for last three years |
Yes |
|
13. Reasons for variation <> 20% |
------ |
|
14. Estimation for coming financial year |
No |
|
15. Capital in the business |
Yes |
|
16. Details of sister concerns |
Yes |
|
17. Major suppliers |
No |
|
18. Major customers |
No |
|
19. Payments terms |
No |
|
20. Export / Import details |
No |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
23. Banking Details |
No |
|
24. Banking facility details |
No |
|
25. Conduct of the banking account |
------ |
|
26. Buyer visit details |
------ |
|
27. Financials, if provided |
Yes |
|
28. Incorporation details, if applicable |
Yes |
|
29. Last accounts filed at ROC |
Yes |
|
30. Major Shareholders, if available |
Yes |
|
31. PAN of Proprietor/Partner/Director, if available |
No |
|
32. Passport No of Proprietor/Partner/Director, if
available |
No |
|
33. Voter ID No of Proprietor/Partner/Director, if
available |
No |
Notes:
The Registered office of the company has been shifted from D-62, Defence
Colony,
BACKGROUND
The Company was incorporated
on June 26, 1992 to manufacture and market confectionery products, including
chewing gums and toffees. The Company has three manufacturing facilities
located at Manesar (Haryana), Rudrapur (Uttarakhand) and Chennai (Tamilnadu).
The Company is a
subsidiary of Perfetti Van Melle Holding B.V. by virtue of their holding 99.999
percent equity shares in the paid up share capital as at 31st March,
2011.
STATE OF
The company showed
improved financial results for the year ended 31st March 2011. Total
income showed an increase from Rs.10340.000 Millions for the year ended 31st
March 2010 to Rs.12980.000 Millions for the year resulting in an increase of
over 25.51%. Likewise, Profit before Tax was higher at Rs.854.400 Millions for
the current year from Rs.639.900 Millions of the last year and corresponding
Net Profit (after tax) ignoring extraordinary income stood at Rs.889.800
Millions and Rs.704.700 Millions respectively, the later showing an increase of
26.26%.
The commercial
production of the new product, brand name ‘STOP NOT’, was successfully
carried-out during April, 2011. The product has been initially launched in the
select states only. For the present, ‘STOP NOT’ is available in the states of
CONTINGENT
LIABILITIES
|
Particulars |
31.03.2011 (Rs.
in millions) |
|
Claims against
the Company not acknowledged as debts* |
|
|
- Income tax disputes where the Company is in appeal |
15.100 |
|
- Excise duty demand on classification dispute |
215.646 |
|
- Sales tax disputes |
51.565 |
* No provision is considered necessary since the Company expects
favourable decisions. The advance paid against above is Rs.16.346 millions.
FIXED ASSETS:
v Land – Freehold
v Land – Leasehold
v Buildings
v Plant and Machinery
v Motor Vehicles
v Furniture and Fixtures
v
Computer Under Finance Lease
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.55.95 |
|
|
1 |
Rs.86.55 |
|
Euro |
1 |
Rs.67.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
64 |
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.