MIRA
INFORM REPORT
|
Report Date : |
17.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
NIVEA INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Hyde Park, 3rd Floor, Saki-Vihar Road, Andheri (East),
Mumbai-400072, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
26.05.2005 |
|
|
|
|
Com. Reg. No.: |
11-153536 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1602.150
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24240MH2005FTC153536 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN13137F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCN1990P |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
The Company Deals in Body Care, Bath Care and Other Cosmetic Products.
|
|
|
|
|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (35) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1490000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Beiersdorf AG, Germany. It is an established company having a moderate track record. The
latest financials are not made available. As per previous year’s record, the
company has huge accumulated losses. It has incurred loss from its operation.
However, trade relations are reported as fair. Business is active.
Payments are reported to be unknown. The company can be considered for business dealings with some caution.
NOTE: Due to
technical error in the government sites, we hereby provide you the report
with available details and we would provide you with a on the same company as
soon as we get the additional information. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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.
INFORMATION DECLINED BY
|
Name : |
Mr. Mayur |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-66459911 |
|
Date : |
16.04.2013 |
LOCATIONS
|
Registered Office : |
Hyde Park, 3rd Floor, Saki-Vihar Road, Andheri (East),
Mumbai-400072, Maharashtra, India |
|
Tel. No.: |
91-22-66459911/ 66459900 |
|
Fax No.: |
91-22-66459999 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Rakshit Ranvijay Hargave |
|
Designation : |
Managing Director |
|
Address : |
502, Arhrodite, Raheja Acropolis II, Near Telecom Factory, Off VN
Purav Marg, Deonar, Mumbai-400088, Maharashtra, India |
|
Date of Birth/Age : |
27.08.1969 |
|
Date of Appointment : |
01.02.2011 |
|
Din No.: |
03406793 |
|
|
|
|
Name : |
Dr. Malanie Bruno Schrewe |
|
Designation : |
Director |
|
Address : |
Appener Weg 11, Hamburg-20251, |
|
Date of Birth/Age : |
11.09.1967 |
|
Date of Appointment : |
31.10.2006 |
|
Din No.: |
01128592 |
|
|
|
|
Name : |
Mr. Umit Feridun Subasi |
|
Designation : |
Director |
|
Address : |
AM, Kaiserkai 26, Hamburg-20475, Germany |
|
Date of Birth/Age : |
19.08.1967 |
|
Date of Appointment : |
01.04.2011 |
|
Din No.: |
03522770 |
KEY EXECUTIVES
|
Name : |
Mr. Yogesh Rameshkumar Shroff |
|
Designation : |
Secretary |
|
Address : |
A-701, Poonam Residency- I, Holy X Road Extension, I.C. Colony, Borivali
(West), Mumbai-400103, Maharashtra, India |
|
Date of Birth/Age : |
05.03.1975 |
|
Date of Appointment : |
27.03.2006 |
|
Pan No.: |
ABAPS8946E |
|
|
|
|
Name : |
Mr. Mayur |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Beiersdorf AG, |
|
158612850 |
|
Phanex Handelsgesellsc. Haft mbH, Germany |
|
1602150 |
|
|
|
|
|
TOTAL
|
|
160215000 |
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 : |
The Company Deals in Body Care, Bath Care and Other Cosmetic Products.
|
||||||
|
|
|
||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S V Ghatalia and Associates Chartered Accountant |
|
Address : |
Jalan Mill Compund, 95, Ganpatrao Kadam Marg, Lower Parel,
Mumbai-400013, Maharashtra, India |
|
Pan No.: |
AACFS6921Q |
|
|
|
|
Name : |
S R Batliboi and Associates Chartered Accountant |
|
Address : |
6th Floor, Express Towers, Nariman Point, Mumbai-400021,
Maharashtra, India |
|
|
|
|
Holding Company : |
Beiersdorf AG (Germany) |
|
|
|
|
Fellow Subsidiaries : |
·
Beiersdorf (Thailand) Co., Limited ·
Beiersdorf Shared Services GMBH ·
Florena Cosmetic GMBH ·
BDF Mexico, S.A. de C.V. ·
Nivea Polska Sp. z o.o. ·
Beiersdorf SA, Chile ·
Beiersdorf Customer Supply GMBH ·
Beiersdorf s.a.s, France ·
Beiersdorf UK Limited ·
Beiersdorf Singapore Private Limited ·
BDF Nivea, S.A., Spain ·
Phanex HMBH (Germany) ·
Juvena Produits de Beauté GmbH ·
Nivea (Shanghai) Co., Limited ·
BDF Mfg, Poznan ·
Beiersdorf East Africa Limited, Kenya ·
Nivea (TAIWAN) Limited ·
Beiersdorf GesmbH ·
BDF Indonesia |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
175000000 |
Equity Shares |
Rs.10/- each |
Rs.1750.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
160215000 |
Equity Shares |
Rs.10/- each
|
Rs.1602.150 Millions
|
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 |
1602.150 |
1602.150 |
1262.800 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(1228.141) |
(1226.491) |
(995.125) |
|
|
NETWORTH |
374.009 |
375.659 |
267.675 |
|
|
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 |
374.009 |
375.659 |
267.675 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
24.423 |
36.150 |
52.547 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
170.588
|
271.073
|
425.613 |
|
|
Sundry Debtors |
75.996
|
65.196
|
78.465 |
|
|
Cash & Bank Balances |
267.241
|
97.462
|
54.971 |
|
|
Other Current Assets |
0.000
|
5.233
|
16.957 |
|
|
Loans & Advances |
50.010
|
76.102
|
55.684 |
|
Total
Current Assets |
563.835
|
515.066
|
631.690 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
131.403
|
76.035
|
189.161 |
|
|
Other Current Liabilities |
78.975
|
95.663
|
224.089 |
|
|
Provisions |
3.871
|
3.859
|
3.312 |
|
Total
Current Liabilities |
214.249
|
175.557
|
416.562 |
|
|
Net Current Assets |
349.586
|
339.509
|
215.128 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
374.009 |
375.659 |
267.675 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
1034.060 |
1197.978 |
|
|
|
Other Income |
|
14.941 |
7.453 |
|
|
|
TOTAL (A) |
1054.289 |
1049.001 |
1205.431 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Costs |
|
0.000 |
1.076 |
|
|
|
Employee Costs |
|
92.624 |
105.026 |
|
|
|
Packing Material Consumed |
|
0.798 |
1.870 |
|
|
|
Purchase of Trading Goods |
|
535.112 |
698.060 |
|
|
|
Decrease in Inventories |
1055.939 |
154.896 |
90.668 |
|
|
|
Administrative Expenses |
|
107.934 |
135.275 |
|
|
|
Selling and Distribution Expenses |
|
362.545 |
767.697 |
|
|
|
Impairment Provision |
|
13.326 |
0.000 |
|
|
|
Manufacturing Expenses |
|
0.000 |
0.000 |
|
|
|
TOTAL (B) |
1055.939 [Including
Financial Expenses and Depreciation] |
1267.235 |
1799.672 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
(218.234) |
(594.241) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.202 |
0.362 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
(218.436) |
(594.603) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
12.929 |
13.808 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(1.650) |
(231.365) |
(608.411) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
3.396 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(1.650) |
(231.365) |
(611.807) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(1226.491) |
(995.126) |
(383.319) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(1228.141) |
(1226.491) |
(995.126) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Finished Goods |
252.335 |
371.819 |
401.837 |
|
|
|
Capital Goods |
0.000 |
0.000 |
1.652 |
|
|
|
Others |
0.181 |
1.821 |
5.780 |
|
|
TOTAL IMPORTS |
252.516 |
373.640 |
409.269 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(0.01) |
(1.64) |
(5.40) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(0.16)
|
(22.05)
|
(50.75) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
(22.37)
|
(50.78) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.28)
|
(41.97)
|
(88.91) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
(0.61)
|
(2.27) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.57
|
0.46
|
1.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.63
|
2.93
|
1.51 |
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) |
|
Sundry Creditors |
131.403
|
76.035
|
189.161 |
|
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
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 |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
FUTURE PROSPECTS:
The Directors are hopeful that the operations of the Company will
improve substantially in the years to come.
NATURE OF
OPERATIONS:
Subject is registered under the Companies Act, 1956 with effect from May
26, 2005. The company operations started from January 1, 2006. It is wholly
owned subsidiary of Beiersdorf Ag, Germnay. The company deals in body care,
bath care and other cosmetic products.
FIXED ASSETS:
·
Leasehold Improvements
·
Plant and Machinery
·
Computers
·
Office Equipments
·
Electrical Installations
·
Furniture and Fixtures
·
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 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.54.33 |
|
|
1 |
Rs.83.17 |
|
Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
35 |
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.