1. Summary Information
|
|
|
Country |
|
|
Company Name |
PROCTER AND
GAMBLE HYGIENE AND HEALTH CARE LIMITED |
Principal Name 1 |
Mr. R. A. Shah |
|
Status |
Good |
Principal Name 2 |
Mr. Shantanu Khosla |
|
|
|
Registration # |
11-012971 |
|
Street Address |
P
and G Plaza, Cardinal Gracias Road, Chakala, Andheri (East), Mumbai-400099,
Maharashtra, India |
||
|
Established Date |
20.07.1964 |
SIC Code |
-- |
|
Telephone# |
91-22-28266000 |
Business Style 1 |
Manufacturers |
|
Fax # |
91-22-66939696 /
66939698 |
Business Style 2 |
Exporters |
|
Homepage |
Product Name 1 |
Beauty Products |
|
|
# of employees |
394
(Approximately) |
Product Name 2 |
-- |
|
Paid up capital |
Rs. 324,607,360 /- |
Product Name 3 |
-- |
|
Shareholders |
Promoter and
Promoter Group - 70.64 % Public - 29.36 % |
Banking |
-- |
|
Public Limited Corp. |
Yes |
Business Period |
48 Years |
|
IPO |
Yes |
International Ins. |
- |
|
Public |
Yes |
Rating |
A
(68) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Fellow
Subsidiaries: |
-- |
Procter and Gamble Manufacturing (Thailand) Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
7774,333,000 |
Current Liabilities |
4014,978,000 |
|
Inventories |
922,673,000 |
Long-term Liabilities |
0 |
|
Fixed Assets |
1983,932,000 |
Other Liabilities |
0 |
|
Deferred Assets |
|
Total Liabilities |
4014,978,000 |
|
Invest& other Assets |
304,401,000 |
Retained Earnings |
6645,754,000 |
|
|
|
Net Worth |
6970,361,000 |
|
Total Assets |
10985,339,000 |
Total Liab. & Equity |
10985,339,000 |
|
Total Assets (Previous Year) |
8776,842,0000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
12974,087,000 |
Net Profit |
1812,903,000 |
|
Sales(Previous yr) |
10028,696,000 |
Net Profit(Prev.yr) |
1508,763,000 |
MIRA
INFORM REPORT
|
Report Date : |
28.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
PROCTER AND GAMBLE HYGIENE AND HEALTH CARE LIMITED |
|
|
|
|
Registered Office : |
P
and G Plaza, Cardinal Gracias Road, Chakala, Andheri (East), Mumbai-400099,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
20.07.1964 |
|
|
|
|
Com. Reg. No.: |
11-012971 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 324.607 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24239MH1964PLC012971 |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Share are Listed on
the Stock Exchange. |
|
|
|
|
Line of Business
: |
Manufacturers and Exporters of Personal and Beauty Products. |
|
|
|
|
No. of Employees
: |
394 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (68) |
|
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 27880000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company and created its brand image in
the Indian Market. Subject is having good track record. Financial company appears to be
good. Performance capacity seems strong. Creditworthiness is good.
Fundamentals are Healthy. Trade relations are reported to be fair. Business is active. Payment
are reported to be regular and as per commitment. The company can be considered for normal business dealing at usual
trade terms and condition. |
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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ 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 : |
P and G Plaza, Cardinal Gracias Road, Chakala, Andheri (East), Mumbai-400099, Maharashtra, India |
|
Tel. No.: |
91-22-28266000 |
|
Fax No.: |
91-22-28266000 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Plot No 182, Sector A, Industrial Area, Mandideep, Raisen-462010
Madhya Pradesh, India |
|
Tel. No.: |
91-22-28267413 |
|
Fax No.: |
91-22-66939692 |
|
|
|
|
Factory 2 : |
173, 314, 315, Kundaim Industrial Estate, Kundaim-403115, Goa, India |
|
|
|
|
Factory 3 : |
Plot 2, GDDIDC Honda, Bhuipal, Sattari, Goa-403506, India |
|
|
|
|
Factory 4 : |
Khasara No. 1808-09, Village-Doria, Export Park, Thana, Near Indo Farm
PO. Baddi, Tehsil: Nalagarh, Dist.: Solan-173205, Himachal Pradesh, India |
|
|
|
|
Factory 5 : |
Village Katha, Near Charak Pharma, PO. Baddi, Tehsil: Nalagarh, Dist.:
Solan-173205, Himachal Pradesh, India |
DIRECTORS
As on 31.03.2012
|
Name : |
Mr. R. A. Shah |
|
Designation : |
Chairman |
|
Date of Birth/Age : |
81 years |
|
Date of Appointment : |
20.07.1964 |
|
Other Directorship: |
·
Pfizer Limited ·
BASF India Limited ·
Godfrey Phillips India Limited ·
The Bombay Dyeing And Manufacturing Company
Limited ·
Deepak Fertilisers And Petrochemicals Corporation
Limited ·
Abbott India Limited ·
Colgate-Palmolive (India) Limited ·
Asian Paints Limited ·
Modi Care Limited ·
Lupin Limited ·
ACC Limited ·
Clariant Chemicals (India) Limited ·
Century Enka Limited ·
Wockhardt Limited ·
Atul Limited (Alternate Director) ·
Schrader Duncan Limited (Alternate Director) ·
RPG Life Sciences Limited (Alternate Director) |
|
|
|
|
Name : |
Mr. Shantanu Khosla |
|
Designation : |
Managing Director |
|
Date of Birth/Age : |
52 years |
|
Date of Appointment : |
27.08.2001 |
|
Other Directorship: |
·
Gillette India Limited (Managing Director) ·
Procter and Gamble Home Products Limited
(Managing Director) |
|
|
|
|
Name : |
Mr. B.S. Mehta |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Amit Vyas |
|
Designation : |
Director |
|
Date of Birth/Age : |
44 years |
|
Date of Appointment : |
22.12.2011 |
|
Other Directorship: |
Procter and Gamble Home Products Limited |
|
|
|
|
Name : |
Mr. Pramod Agarwal |
|
Designation : |
Director |
|
Date of Birth/Age : |
50 years |
|
Date of Appointment : |
13.08.2012 |
|
Other Directorship: |
Gillette India Limited |
KEY EXECUTIVES
|
Name : |
Mr.S. Harlalka |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2012
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
619683 |
1.91 |
|
|
619683 |
1.91 |
|
|
|
|
|
|
22310090 |
68.73 |
|
|
22310090 |
68.73 |
|
Total
shareholding of Promoter and Promoter Group (A) |
22929773 |
70.64 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
2507218 |
7.72 |
|
|
156068 |
0.48 |
|
|
915786 |
2.82 |
|
|
686399 |
2.11 |
|
|
4265471 |
13.14 |
|
|
|
|
|
|
844197 |
2.60 |
|
|
|
|
|
|
3801270 |
11.71 |
|
|
484222 |
1.49 |
|
|
135803 |
0.42 |
|
|
91141 |
0.28 |
|
|
451 |
0.00 |
|
|
15384 |
0.05 |
|
|
22468 |
0.07 |
|
|
6359 |
0.02 |
|
|
5265492 |
16.22 |
|
Total Public
shareholding (B) |
9530963 |
29.36 |
|
Total (A)+(B) |
32460736 |
100.00 |
|
(C) Shares held
by Custodians and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
32460736 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporters of Personal and Beauty Products. |
GENERAL INFORMATION
|
No. of Employees : |
394 (Approximately) |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
|
|
|
Group Companies : |
·
Procter and Gamble India Holdings BV ·
Procter and Gamble Luxembourg Global SARL ·
Procter and Gamble Canada Holding BV ·
Procter and Gamble Iron Horse Holding BV ·
Procter and Gamble International SARL ·
Procter and Gamble Overseas Canada, BV. ·
Procter and Gamble Eastern Europe LLC ·
Procter and Gamble India Holdings Inc. ·
Procter and Gamble Overseas India BV ·
Procter and Gamble Nordic LLC ·
Procter and Gamble International Operations, SA P ·
rocter and Gamble Asia Holding BV. ·
Procter and Gamble Global Holdings Limited ·
Gillette Group (Europe) Holdings, BV ·
Rosemount BV. |
|
|
|
|
Parties where control exists: |
·
The Procter and Gamble Company, USA - Ultimate
Holding Company ·
Procter and Gamble Asia Holding BV - Holding
Company |
|
|
|
|
Fellow
Subsidiaries: |
·
Procter and Gamble Manufacturing (Thailand) Limited ·
Procter and Gamble Tuketim Mallari Sanayi A.S. ·
Procter and Gamble Philippines, Inc. ·
Procter and Gamble Home Products Limited ·
PT Procter and Gamble Home Products Indonesia ·
PandG Innovation Godo Kaisha ·
Procter and Gamble Europe SA Singapore Br. (Formerly
Procter and Gamble Asia Pte Limited) ·
Procter and Gamble Technical Centers Limited ·
Procter and Gamble (Guangzhou) Limited ·
Procter and Gamble International Operations
SA-ROHQ (formerly Procter and Gamble
Asia Pte Limited (MROH)) ·
Procter and Gamble Services Company NV ·
Procter and Gamble Bangladesh Private Limited ·
The Gillette Company ·
Procter and Gamble International Operations SA
Singapore Br. ·
Procter and Gamble International Operations SA ·
Procter and Gamble Trading (Thailand) Limited ·
The Procter and Gamble Company ·
Procter and Gamble Distributing (Philippines),
Inc. ·
Procter and Gamble Indochina Company Limited ·
Gillette India Limited ·
Temple Trees Impex and Investment Private Limited ·
Procter and Gamble Gulf Fze ·
Procter and Gamble Australia Pty Limited ·
Procter and Gamble Kabushiki Kaisha ·
Fameccanica Machinery (Shanghai) Company ·
Rosemount LLC ·
PT Procter and Gamble Operations Indonesia ·
Fameccanica Data S.P.A. ·
Procter and Gamble International Operations Pte.
Limited ·
Procter and Gamble (Guangzhou) Consumer Products
Company, Limited ·
Procter and Gamble UK ·
Procter and Gamble Malaysia Sdn Bhd ·
The Procter and Gamble US Business Services
Company ·
The Procter and Gamble Distributing ·
PandG Northeast Asia Pte Limited – Japan ·
Procter and Gamble International ·
Procter and Gamble Korea, Inc. ·
Procter and Gamble Hong Kong Limited ·
Procter and Gamble Manufacturing GmBH ·
Procter and Gamble Distribution SRL |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35000000 |
Equity Shares |
Rs.10/- each |
Rs. 350.000 Millions |
|
|
|
|
|
Issued, Subscribed and Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
32460736 |
Equity Shares |
Rs.10/- each |
Rs. 324.607 Millions |
|
|
|
|
|
Reconciliation of fully paid equity shares
|
Particulars |
31.03.2012 |
|
|
Number of Shares |
Rs. in millions |
|
|
As per last balance sheet |
32460736 |
324.607 |
|
Equity shares of Rs. 10 each issued during the year |
-- |
-- |
|
Balance at end of year |
32460736 |
324.607 |
Rights attached to
Equity Shares
The Company has
only one class of equity shares having a par value of Rs. 10 per share. Each
holder of equity share is entitled to one vote per share. The Company declares
and pays dividends in Indian rupees. The Dividend proposed by the Board of
Directors is subject to approval of the shareholders in the ensuing Annual
General Meeting.
In the event of
liquidation of The Company, the holders of equity shares will be entitled to
receive remaining assets of The Company, after distribution of all preferential
amounts. The distribution will be in proportion to the number of equity shares
held by the shareholders.
Details of Equity
shares held by Holding company, Ultimate holding company and its Subsidiaries
|
Particulars |
31.03.2012 |
|
|
Number of Shares |
Rs. in millions |
|
|
Ultimate Holding company - The Procter and Gamble Company, USA |
-- |
|
|
Holding company - Procter and Gamble Asia Holding BV |
2 12 21 953 |
212.219 |
|
Subsidiaries of ultimate holding company |
|
|
|
Rosemount LLC |
10 88 137 |
10.881 |
|
Temple Trees Impex and Investment Private Limited |
6 19 683 |
6.197 |
Details of shares
held by each shareholder holding more than 5% shares:
|
Particulars |
31.03.2012 |
|
|
Number of Shares |
% holding |
|
|
Procter and Gamble Asia Holding BV |
21221953 |
65.38% |
|
HDFC Trustee Company Limited |
1756261 |
5.41% |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
324.607 |
324.607 |
324.607 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves and Surplus |
6645.754 |
5681.701 |
5021.789 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
6970.361 |
6006.308 |
5346.396 |
|
|
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 |
28.102 |
22.438 |
|
|
|
|
|
|
|
|
TOTAL |
6970.361 |
6034.410 |
5368.834 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1983.932 |
1903.813 |
1303.932 |
|
|
Capital work-in-progress |
289.052 |
76.356 |
664.409 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
15.349 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS and ADVANCES |
|
|
|
|
|
|
Inventories |
922.673
|
653.344 |
544.062 |
|
|
Sundry Debtors |
481.512
|
310.191 |
286.814 |
|
|
Cash and Bank Balances |
1823.652
|
1299.518 |
2323.272 |
|
|
Other Current Assets |
211.395
|
143.041 |
84.395 |
|
|
Loans and Advances |
5257.774
|
4390.579 |
3061.570 |
|
Total
Current Assets |
8697.006
|
6796.673 |
6300.113 |
|
|
Less : CURRENT
LIABILITIES and PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2553.558
|
1541.212 |
1871.702 |
|
|
Other Current Liabilities |
543.672
|
286.599 |
118.335 |
|
|
Provisions |
917.748
|
914.621 |
909.583 |
|
Total
Current Liabilities |
4014.978
|
2742.432 |
2899.620 |
|
|
Net Current Assets |
4682.028
|
4054.241 |
3400.493 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6970.361 |
6034.410 |
5368.834 |
|
PROFIT and LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
12974.087 |
10028.696 |
9028.677 |
|
|
|
Licence Fee |
-- |
-- |
15.914 |
|
|
|
Other Income |
509.162 |
354.085 |
286.526 |
|
|
|
TOTAL (A) |
13483.249 |
10382.781 |
9331.117 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Raw and Packing Material
Consumed |
3958.928 |
2996.993 |
2382.736 |
|
|
|
Purchase of Stock-in-Trade |
1450.639 |
905.310 |
408.446 |
|
|
|
Employees Benefits Expenses |
646.599 |
505.682 |
434.573 |
|
|
|
Other Expenses |
5082.549 |
3992.149 |
3513.947 |
|
|
|
Changes in inventories of Finished
Goods, Work-in-Progress and Stock-in-Trade |
(166.726) |
(6.582) |
4.663 |
|
|
|
TOTAL (B) |
10971.989 |
8393.552 |
6744.365 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2511.260 |
1989.229 |
2586.752 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.329 |
0.260 |
0.251 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2510.931 |
1988.969 |
2586.501 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
280.754 |
221.550 |
250.258 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2230.177 |
1767.419 |
2336.243 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
417.274 |
258.656 |
538.589 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1812.903 |
1508.763 |
1797.654 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3289.940 |
2780.928 |
2014.745 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed dividend |
730.367 |
730.367 |
730.366 |
|
|
|
Corporate tax on dividend |
118.484 |
118.484 |
121.305 |
|
|
|
Transfer to General Reserve |
181.300 |
150.900 |
179.800 |
|
|
BALANCE CARRIED
TO THE B/S |
4072.692 |
3289.940 |
2780.928 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Business process outsourcing income |
2.262 |
3.021 |
10.884 |
|
|
|
Research and Development and other cross recovery |
4.269 |
2.371 |
2.623 |
|
|
|
Exports of goods
calculated on F.O.B. basis |
75.627 |
48.070 |
96.922 |
|
|
|
Others (freight, insurance etc) |
2.187 |
2.704 |
9.050 |
|
|
TOTAL EARNINGS |
84.345 |
56.166 |
119.479 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw materials |
1297.187 |
1034.470 |
843.882 |
|
|
|
Spare parts |
42.875 |
16.298 |
26.315 |
|
|
|
Capital goods |
272.615 |
85.679 |
240.292 |
|
|
TOTAL IMPORTS |
1612.677 |
1136.447 |
1110.489 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
55.85 |
46.48 |
55.38 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
30.06.2012 Unaudited |
30.09.2012 Unaudited |
|
|
|
1st
Quarter |
2nd
Quarter |
|
Net Sales |
|
3130.900 |
3756.200 |
|
Total Expenditure |
|
2695.000 |
3327.800 |
|
PBIDT (Excl OI) |
|
435.900 |
428.400 |
|
Other Income |
|
107.000 |
280.900 |
|
Operating Profit |
|
542.900 |
709.300 |
|
Interest |
|
0.200 |
0.000 |
|
Exceptional Items |
|
0.000 |
0.000 |
|
PBDT |
|
542.700 |
709.300 |
|
Depreciation |
|
79.800 |
77.500 |
|
Profit Before Tax |
|
462.900 |
631.800 |
|
Tax |
|
110.200 |
179.100 |
|
Provision and contingencies |
|
0.000 |
0.000 |
|
Profit After Tax |
|
352.700 |
452.700 |
|
Extraordinary Items |
|
0.000 |
0.000 |
|
Prior Period Expenses |
|
0.000 |
0.000 |
|
Other Adjustments |
|
0.000 |
0.000 |
|
Net Profit |
|
352.700 |
452.700 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
13.45
|
14.53 |
19.27 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
17.19
|
17.62 |
25.88 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.88
|
20.31 |
30.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Net worth) |
|
0.32
|
0.29 |
0.45 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Net worth) |
|
0.58
|
0.46 |
0.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.17
|
2.48 |
2.17 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
|
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 (if applicable) |
No |
|
21] |
Market
information |
------ |
|
22] |
Litigations
that the firm / promoter involved in |
------ |
|
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] |
Date of Birth
of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No
of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
No |
BUSINESS ENVIRONMENT The Indian macroeconomic environment has looked turbulent during the past year. After a promising start to the decade in 2010-11, with achievements like maintaining GDP growth rate around 8%, bringing down fiscal deficit to 4.8% of GDP as well as containing current account deficit to 2.6%, the fiscal year 2011-12 has been challenging for the Indian Economy. The year started on a note of optimism through impressive growth in exports and high levels of foreign exchange inflows, only to moderate as the year progressed through continued monetary tightening in response to the untamed inflationary pressures. Gradually, high levels of inflation gave way to a slow-down in the growth. Additionally, as fiscal conditions worsened over the year, export numbers were revised in light of data discrepancies leading to a widening of trade deficit. In light of a perceivably weak macroeconomic environment, a well-planned economic revival policy from the Government`s part is required to get back the Indian Economy on the path to stable and prosperous growth. Fall of rupee against major currencies, new norms of standard-size packaging, increase in raw material costs due to upward spiraling interest rates and inflation, together might adversely impact the performance of the FMCG products. India needs sustained capital inflows to finance its growing current-account deficit. Although economic reforms appear to have slowed down, it appears that FIIs are continuing to invest in India. However, it is also an undeniable fact that the Government continues to face challenges in attracting foreign direct investment (FDI). As per World Bank`s report titled `Global Economic Prospects` the Indian economy will grow by 6.9% in this Financial Year (2012-13) notwithstanding problems like policy uncertainties, fiscal deficit and inflation. BUSINESS PERFORMANCE The Company`s strong performance continued in the Financial Year 2011-12, despite difficult economic conditions, new competitive entrants and inflationary market conditions. With a focus on balancing needs of the consumer, the customer and the members, they are delighted to report very strong financial results for the Company. The Company achieved a healthy double-digit sales growth during the Financial Year 2011-12. Sales for the Financial Year increased by 25% at Rs. 13010.000 millions as against Rs. 10370.000 millions during the previous year. Earnings after tax increased by 20% at Rs.1810.000 millions as against Rs. 1510.000 millions during the previous year. Feminine Hygiene Business Feminine Hygiene business has been a major growth driver for the Financial Year with business up strong double digits with the various variants of Whisper Sanitary Napkins showing consistent growth. The Company continues to deliver amongst the sales and share growth for P and G across the globe, with Whisper increasing its market share and Whisper Ultra being the largest value share brand in the market behind strategic initiatives. This growth is driven both by increase in penetration among non-users and consumption among users. During the Financial Year, a number of initiatives were designed to meet the consumers` needs across segments. All these initiatives led to the Whisper share crossing its all time national high of 54.1 with growth across all major Brands. Healthcare Business The Company`s Healthcare sales posted a double digit growth this Financial Year across Vicks VapoRub, Vicks Cough Drops, Vicks Action 500 and Vicks Inhaler. This growth was driven by a combination of product initiatives and increased investment behind proven equity advertising. Vicks VapoRub had a record year posting the highest ever market share. The Vicks Cough Drops business was the fastest growing in the Vicks franchise. Vicks will continue to innovate to ensure it stays the most trusted cough and cold care solution in India. The Healthcare business further strengthened Vicks equity as one of the most trusted Brand in India driven by the launch of Vicks VapoCool, a premium throat drop with the dual-benefit of soothing the throat and giving relief from blocked nose. Overall, the Company continued to focus on driving consumer meaningful innovations backed by distribution expansion and strong advertising support thereby recording a consistent growth across all areas of business. Earnings have also benefited from focus on mix, pricing and cost control. Cash generation continued to be strong arising from significant improvements in the business performance, efficiencies and cost savings across the organization and a continued efficient collection system. The Company managed investments prudently by deployment of the surplus funds after ensuring that such investments satisfied the Company`s criteria of safety and security. Strong results have been possible due to several key initiatives which focused on consumers, retail customers with a stronger focus on innovation, greater effectiveness and efficiency across all costs, while strengthening organizational leadership.
MANAGEMENT DISCUSSION AND ANALYSIS Review of Economic Scenario and impact of Union Budget 2012: The Indian Economy showed signs of slowdown during the past year and the same could be attributed to the Global Economic Slowdown. The Economic Survey 2011-12 states that despite a slowdown in the growth rate of the Indian Economy as compared to the preceding two years, India remains among the front runners in allcross country comparisons. The Survey further states that despite difficult conditions in the global economy, exports continued to be robust in the current year and registered a growth rate of 14.3% in real terms over and above the 22.7% growth achieved in the previous year (2010-2011), as per Advance Estimates. The Survey also states that, the growth rate of private final consumption expenditure has been fairly consistent even when the economy`s growth rate has fluctuated. The global economic environment, which has been tenuous at best throughout the year, turned sharply adverse in September, 2011 owing to turmoil in Eurozone and questions about the outlook on the US Economy provoked by rating agencies. However, for the Indian Economy, the outlook for growth and price stability looks more promising. The Union Budget 2012-13 was presented by the Finance Minister in the wake of a challenging business environment and weak global economic conditions. With a sombre global outlook, sustained slowdown in Indian GDP growth, high inflation, elevated deficits and low investor confidence, the current year has been testing for the Indian economy. The good news is that, while the GDP achieved of 6.9% was low as compared to that of previous years, comparatively it still put India in the top five economies of the world. Further the Finance Minister clearly pointed out that India has been able to limit the adverse impact of the global slowdown on its economy and is at the cusp of a revival, as agriculture and services have continued to grow at a decent pace. Further he also pointed out that there are various other indicators that suggest that the economy is now turning around, namely, the signs of recovery in coal, fertilizer, cement and electricity sectors. The FMCG Sector and Indian consumers The Indian FMCG sector is the fourth largest in the Indian economy and has a market size of $13.1 billion. The FMCG sector has attracted a large number of consumers in both the urban and rural sectors in India in the past few decades through better penetration and low-priced products. Various manufacturers of FMCG products are concentrating on increasing the sales volume due to the rising demand of the consumers. Creativity and innovation are the major attributes required for success in this sector. Large-scale FMCG companies including the Company P and G have won the hearts of the consumers by delivering high-end and innovative products at affordable range. A large number of FMCG companies derive a significant proportion of their overall sales from outside the top few 100 towns/cities, which reflects the growing economic importance of India`s rural consumer base. Rural India accounts for close to one-third of the total consumption pie. Robust consumption in the rural economy is one of the key drivers of India`s sustained growth. FMCG companies are devising exclusive rural marketing strategies to tap the rural consumer base. Performance Overview and Outlook The Company operates in a single reportable business and geographical segment. The Company`s core business is manufacturing, marketing and distribution of Healthcare and Feminine Hygiene products. Under these businesses it has in its portfolio: VICKS - India`s No. 1 Healthcare brand and WHISPER - India`s leading Feminine Hygiene brand (in value terms). The discussion on financial performance of the Company is elaborated in the Directors Report.
STATEMENT OF
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30th SEPTEMBER
2012
(Rs. in Millions)
|
Particulars |
Three Months
Ended 30th September 2012 |
Preceding Three
Months Ended 30th
June 2012 |
Previous Year
Ended 30th
June 2012 |
|
(Unaudited) |
(Unaudited) |
(Audited) |
|
|
1
Income from Operations |
|
|
|
|
(a) Net Sales / Income from Operations
{Net ol excise duty) |
3749.600 |
3125.900 |
12947.000 |
|
(b) Other operating income |
6.800 |
5.000 |
27.100 |
|
Total income from operations (net) |
3756.200 |
3130.900 |
12974.100 |
|
2 Expenses |
|
|
|
|
a) Cost ol raw and packing material consumed |
1339.400 |
1000.300 |
3958.900 |
|
b) Purchases of slock-in-trade |
466.100 |
244.500 |
1450.600 |
|
c) Changes in inventories of finished goods, work-in-progress and
slock-in-trade |
(175.400) |
(62.100) |
(166.700) |
|
d) Employee benefits expense |
219.000 |
141.700 |
646.600 |
|
e) Advertising and sales promotion expenses |
685.500 |
482.800 |
2334.400 |
|
f) Royally expenses |
179.400 |
174.500 |
634.200 |
|
g) Depreciation and amortisation expenses |
77.500 |
79.800 |
280.800 |
|
h) Olhsr expenses |
613.800 |
713.300 |
2114.000 |
|
Total expenses |
3405.300 |
2774.800 |
11252.800 |
|
3
Profit from operations before other income, |
|
|
|
|
finance cost and exceptional items (1-2) |
350.900 |
356.100 |
1721.300 |
|
4
Other income |
280.900 |
107.000 |
509.200 |
|
5
Profit from ordinary activities before finance costs and exceptional
items (3*4) |
631.800 |
463.100 |
2230.500 |
|
6
Finance cost |
- |
0.200 |
0.300 |
|
7
Profit from ordinary activities after finance costs but before
exceptional items (5-6) |
631.800 |
462.900 |
2230.200 |
|
B
Exceptional items |
- |
- |
- |
|
9
Profit from ordinary activities before tax (7*8) |
631.800 |
462.900 |
2230.200 |
|
10
Tax expense |
179.100 |
110.200 |
417.300 |
|
11
Net Profit from ordinary activities after tax (9-10) |
452.700 |
352.700 |
1812.900 |
|
12
Extraordinary ilem (net of lax expense) |
- |
- |
- |
|
13
Net profit for the period (11+12) |
452.700 |
352.700 |
1812.900 |
|
14
Paid up equity share capital (Face Value T 10 per equity share) |
324.600 |
324.600 |
324.600 |
|
15
Reserves excluding Revaluation Reserves as per balance sheet of
previous accounting year |
|
|
6645.800 |
|
16-i Earnings per Share - (before
extraordinary Items), (of ? 10 each) (not normalised): |
|
|
|
|
a) Basic |
13.95 |
10.87 |
55.85 |
|
b) Diluted |
13.95 |
10.87 |
55.85 |
|
16.ii Earnings per Share - (after
extraordinary Items), (of 110 each) (not annualised): |
|
|
|
|
a) Basic |
13.95 |
10.87 |
55.85 |
|
b) Diluted |
13.95 |
10.87 |
55.85 |
SELECT
INFORMATION FOR THE QUARTER ENDED 30* SEPTEMBER 2012
|
Particulars |
Three Months
Ended 30th September 2012 |
Preceding Three
Months Ended 30th
June 2012 |
Previous Year
Ended 30th
June 2012 |
|
(Unaudited) |
(Unaudited) |
(Audited) |
|
|
A PARTICULARS OF SHAREHOLDING |
|
|
|
|
1 Public shareholding |
|
|
|
|
- Number of shares |
9530963 |
9530963 |
9530963 |
|
- Percentage of shareholding |
29.36 |
29.36 |
29.36 |
|
2. Promoters and Promoter Group Shareholding |
|
|
|
|
a) Pledged / Encumbered |
|
|
|
|
- Number of shares (as a % of the total shareholding of Promoter and
Promoter group) |
NIL |
NIL |
NIL |
|
- Percentage of share (as a % of the total share capital of the
company) |
|
|
|
|
b) Non-encumbered |
|
|
|
|
- Number of shares |
22929773 |
22929773 |
22929773 |
|
- Number of shares (as a % of the total shareholding of Promoter and
Promoter group) |
100.00 |
100.00 |
100.00 |
|
- Percentage of share (as a % of the total share capital of the
company) |
70.64 |
70.64 |
70.64 |
|
B INVESTOR COMPLAINTS |
THREE
MONTHS ENDED 30th SEPTEMBER 2012 |
|
Pending at the beginning of the quarter Received during the quarter Disposed of during the quarter Remaining unresolved at the end of the quarter |
-- 48 48 -- |
Note:
1 The above unaudited results have been reviewed by the Audit Committee
and approved by the Board of Directors at their respective Meetings held on 26th
October 2012. The Statutory Auditors of the Company have carried out limited
review of the above unaudited results pursuant to clause 41 of the Listing
Agreement.
2 The Board of Directors at its meeting held on 23rd August
2012 has recommended a dividend of Rs. 22.5 per equity share (Nominal Value of Rs. 10 per
equity share) amounting to Rs. 730.400
millions for the financial year ended 30th June 2012, subject to
approval of Members al Annual General Meeting of the Company to be held on 6th
December 2012.
3 Tax expense comprises of current lax and deferred tax and is net of
adjustment towards Minimum Alternative Tax (MAT) credit entitlement.
4 The Company operates in a single reportable business segment i.e.
Manufacturing and Marketing of Health and Hygiene Products and one reportable
Geographical segment i.e. within India.
5 This being the first quarter, the cumulative year to date figures are
same as quarter results.
6 Previous period's / year's figures have been regrouped / rearranged
wherever considered necessary as per the formal revised by SEBI in conformity
with the amended Schedule VI to the Companies Act, 1956.
CONTINGENT
LIABILITY
(i) In respect of
Income Tax demands for which the company has preferred appeals with appropriate
authorities - Rs. 285.521 millions (Previous year : Rs. 394.492 millions). The liability is mainly
on account of various disallowances by the Income Tax authorities on which
assessee has preferred an appeal. These are on account of various grounds -
primarily on account of advertisement expenses, tax holiday, etc.
(ii) In respect of
Sales Tax matters for which the company has preferred appeals with appropriate
authorities – Rs. 10.779 millions (Previous Year: Rs. 33.279 millions). The
liability is in respect to: classification matters Rs. 0.874 (Previous Year:
0.874 million), valuation matters Rs. 9.506 millions (Previous Year: 9.506
millions) and applicability of service tax on testing charges Rs 0.165 million
(Previous Years: 0.165 million) and others Rs. 0.234 million (Previous Year:
Rs. 0.234 million). Contingent liability for customs duty is towards the old
advance license matters which are under dispute.
(iii) In respect
of Excise, Customs and Service Tax matters for which the company has preferred
appeals with appropriate authorities Rs. 110.779 million (Previous year: Rs. 33.279 million). The liability is in
respect to: classification matters Rs. 0.874 million (Previous year: Rs. 0.874
million), valuation matters Rs. 9.506 million (Previous year : Rs.9.506 millions) and applicability of
service tax on testing charges Rs. 0.165 million (Previous year : Rs. 0.165
million) and others Rs. 0.234 million (Previous year : Rs. 0.234 million).
Contingent liability for customs duty is towards the old advance license
matters which are under dispute.
(iv) In respect of
counter guarantees given to bank against guarantees given by bank : Rs. 448.420
millions (Previous year : Rs. 336.155 millions) At the request of the Company,
its bankers have issued guarantees to third parties for performance obligation
under various commercial agreements. The Company has issued counter guarantees
to the banks in respect of these guarantees.
(v) In respect of
other claims - Rs.77 00 000 (Previous year: Rs.13 14 000). The Company is a
party to various legal proceedings in the normal course of business.
(vi) Custom duty liability for probable non fulfillment of export
obligation Rs. 44.849 millions (Previous Year : Rs. 64.465 millions)
Future cash flow in respect of the above, if any, is determinable only
on receipt of Judgement / decisions pending with the relevant authorities. The
company does not expect the outcome of matters stated above to have a material
adverse effect on the Company’s financial condition, results of operations or
cash flows.
b) Estimated amount of contracts remaining to be executed on capital
account (net of advance) – Rs. 28.959 million (Rs. 2.819 million)
PRESS RELEASE:
Procter
and Gamble Hygiene and Health Care Limited delivers strong growth Net Sales up
by 24 %; Earnings after Tax up +6% for the quarter ended September 2012
its unaudited results for Quarter 1 today. The company has
registered total sales of Rs. 3750.000 millions, up by 24% versus Rs. 3020.000
millions in the corresponding quarter last year. The growth in sales was driven
by category growth, pricing and initiatives.
Feminine Hygiene posted net sales growth of +27% Sales were
driven by category growth, pricing and commercial innovations such as
"Kadam Badhaye Jaa". Femcare value share stands at 54 %. The Health
Care began the fiscal year on a strong note with sales growth of 18%. The sales
grew behind programs such as "Cheer for Champions" for Vicks Cough
Drops and "Relief in 5 minutes" for Vicks Action 500.
Profit Before Tax (PBT) stood at Rs. 630.000 millions for
the quarter ended September 30, 2012 vs. Rs. 410.000 millions in tile
corresponding quarter last year. While overall costs were under control, the
quarter was helped by foreign exchange gain of Rs. 4 crore versus previous
quarter and a onetime interest income of Rs. 100.000 millions on past
litigation.
The PAT for quarter ended September 30, 2012 stood at Rs.
450.000 millions vs. Rs. 430.000 millions in the corresponding quarter last
year.
Sharing perspective on the results, Mr. Shantanu Khosla, Managing
Director, Procter and Gamble Hygiene and Health Care Limited (PGHHCL) said,
"Procter and Gamble Hygiene and Health Care Limited has yet again
witnessed solid growth for the quarter ended September, 30, 2012. PGHHCL is
executing its proven business model of delivering value to the consumers
combined with effective pricing and productivity which is helping deliver
consistent top and bottom-line growth.. We believe in investing resources in
our core businesses with an aim to touch and improve the lives of more Indian
consumers, now and for generations to come."
About Procter and Gamble Hygiene and Health Care Limited,
Procter and Gamble Hygiene and Health Care Limited, (PGHH) is one of
India's fastest growing FMCG Companies that has in its portfolio WHISPER
India's leading Feminine Hygiene brand, and VICKS -India's No. I Health Care
brand. The Company has carved a reputation for delivering high quality,
value-added products to meet the needs of consumers, PGHH is committed to
making every day in the lives of Indian consumers better through the quality of
its products and the sincerity of its service. Please visit www.pg.com for the
latest news and in-depth information about P and G and its brands.
FIXED ASSETS:
·
Land Freehold
·
Land Leasehold
·
Buildings
·
Plant, Machinery and Equipment
·
Furniture and Fixture
·
Office Equipment
·
Moulds and Dies
·
Vehicles Forklifts
CMT REPORT (Corruption, Money Laundering and Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration:
No 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.55.70 |
|
|
1 |
Rs.89.34 |
|
Euro |
1 |
Rs.72.35 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
SCORE and RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
68 |
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 and 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.