MIRA
INFORM REPORT
|
Report Date : |
18.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
SABMILLER INDIA LIMITED (w.e.f. 22.06.2012) |
|
|
|
|
Formerly Known
As : |
SKOL BREWERIES LIMITED |
|
|
|
|
Registered
Office : |
Solitaire Corporate Park 10, Unit No. 1021, 2nd
Floor, Survey No. 131 – A, Chakala, Andheri Kurla Road, Andheri (East),
Mumbai – 400093, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation
: |
18.11.1988 |
|
|
|
|
Com. Reg. No.: |
11-049687 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2311.837 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65990MH1988PLC049687 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAICS2238R |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject engaged in the business of Brewing, Packaging,
Distribution, Marketing and Sale of Beer. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 15000000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The company
is continuously incurring losses from its operation. However, the company
receives good support from its group company. Trade relations are reported as
fair. Business is active. Payments are reported to be slow. The company can considered for business dealings with great caution. Note: The company has not been traded in BSE for
last 30 Days. |
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
Management Non Co-operative
(91-80-39248800)
LOCATIONS
|
Registered Office : |
Solitaire Corporate Park 10, Unit No. 1021, 2nd Floor,
Survey No. 131 – A, Chakala, Andheri Kurla Road, Andheri (East), Mumbai –
400093, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office / Unit 1 : |
Mysore Breweries Jalahalli Camp Road, Yeshwantpur, Bangalore - 560022, Karnataka, India |
|
Tel. No.: |
91-80-39499999 |
|
Fax No.: |
91-80-39248994 |
|
|
|
|
Regional Office : |
Located at ·
Gurgaon ·
Bangalore |
|
|
|
|
Unit 2 : |
Charminar Breweries Shivampet, Pulkal Mandal, Near Sangareddy, Medak – 502273,
Andhra Pradesh, India |
|
Tel No.: |
91-8455-394999 |
|
|
|
|
Unit 3 : |
SICA Breweries Ayyankuttipalayam, Muthirapalayam, P. O Puducherry –
605010, India |
|
Tel No.: |
91-413-3949999 |
|
|
|
|
Unit 4 : |
Malabar Breweries Post Mellor, Poolani Chalakudy, District Thrissur – 680311, Kerala, India |
|
Tel No.: |
91-480-3949999 |
|
|
|
|
Unit 5 : |
SABMiller Breweries Plot No. M-99, MIDC Waluj, Aurangabad - 431136, Maharashtra, India |
|
Tel No.: |
91-240-3058200 – 3058299 |
|
|
|
|
Unit 6 : |
Rochees Breweries SP 2-3, RIICO Industrial Area NH-8, Village Neemarana,
Tehsil Behror, Distirct Alwar – 301705, Rajasthan India |
|
Tel No.: |
91-1494-3949999 |
|
|
|
|
Unit 7 : |
Central Distilleries and Breweries Kanker Khera, Meerut Cantt Meerut - 250001 Uttar Pradesh,
India |
|
Tel No.: |
91-121-3949999 / 3993114 |
|
|
|
|
Unit 8 : |
East Coast Breweries AT/PO- Paradeep, District Jagatsinghpur – 754142, Odisha,
India |
|
Tel No.: |
91-6722-228042/46 |
|
|
|
|
Unit 9 : |
Pals Distilleries L - 5, MIDC Area Waluj, Aurangabad – 431136, Maharashtra,
India |
|
Tel No.: |
91-240-3949999 |
|
|
|
|
Unit 10 : |
Haryana Breweries 49th K M Stone, G T Road, Murthal, Sonepat - 131039,
Haryana, India |
|
Tel No.: |
91-130-3949999 |
DIRECTORS
As on 29.08.2012
|
Name : |
Mr. Paolo Alberto Francesco Lanzarotti |
|
Designation : |
Managing Director |
|
Address : |
Strmy Vrsok 96 Bratislava Slovakia 84106 |
|
Date of Birth/Age : |
02.02.1966 |
|
Qualification : |
B. Sc (Hons) and MBA |
|
Date of Appointment : |
23.09.2009 |
|
DIN No.: |
02799822 |
|
|
|
|
Name : |
Mr. Ari Mervis |
|
Designation : |
Director |
|
Address : |
50 Fores Road, Bramley Johannesburg South Africa 2090 |
|
Date of Birth/Age : |
04.01.1964 |
|
Qualification : |
B.Com with major in Economics, Marketing and Commercial Law |
|
Date of Appointment : |
13.11.2007 |
|
DIN No.: |
01892065 |
|
|
|
|
Name : |
Mr. Thirumanilaiyur Sitapati Ramana Subramanian |
|
Designation : |
Director |
|
Address : |
“Guru Kripa” 74, Sector – 15-A, Gautam Budh Nagar, Noida – 201301,
Uttar Pradesh, India |
|
Date of Birth/Age : |
12.12.1938 |
|
Qualification : |
Diploma in Mathematics and Masters in Public
Administration |
|
Date of Appointment : |
23.06.2008 |
|
DIN No.: |
00016912 |
|
|
|
|
Name : |
Mr. Mathew James Dunn |
|
Designation : |
Director |
|
Address : |
FT 56 26/F, block B Repulse Bay Apartment 101, Repulse Bay Road,
Repulse Bay, Hong Kong |
|
Date of Birth/Age : |
03.10.1974 |
|
Qualification : |
English Literature and Language Graduate |
|
Date of Appointment : |
02.07.2010 |
|
DIN No.: |
03156270 |
KEY EXECUTIVES
|
Name : |
Mr. S Shridhar |
|
Designation : |
Secretary |
|
Address : |
Flat No. 2358, Janapriya Lakeview, Phase – 2, Kondichikkanahalli,
Begur Hobli, Bangalore – 560076, Karnataka, India |
|
Date of Birth/Age : |
14.02.1971 |
|
Date of Appointment : |
01.10.2010 |
|
PAN No.: |
ANGPS8916G |
|
|
|
|
AUDIT COMMITTEE |
|
|
Name : |
Mr. Mathew Dunn |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Harald Harvey |
|
Designation : |
Member |
|
|
|
|
Name : |
Mr. Ari Mervis |
|
Designation : |
Member |
|
|
|
|
Name : |
Mr. Paolo Lanzarotti |
|
Designation : |
Member |
|
|
|
|
Name : |
Ms. Sue Clark |
|
Designation : |
Member |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.08.2012
NOT AVAILABLE
Equity Share Break up (Percentage of Total Equity)
As on 29.08.2012
|
Category |
|
Percentage |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
99.30 |
|
Bodies corporate |
|
0.02 |
|
Other top fifty shareholders |
|
0.68 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject engaged in the business of Brewing, Packaging,
Distribution, Marketing and Sale of Beer. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
· Standard Chartered Bank · Royal Bank of Scotland · Citi Bank N.A ·
First Rand Bank Limited |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Statutory Auditors : |
|
|
Name : |
B S R and Company Chartered Accountants |
|
Address : |
Maruthi Info-Tech Centre, 11-12/1, Inner Ring Road, Koramangala, Bangalore- 560071, Karnataka, India |
|
PAN No.: |
AAAFB9852F |
|
|
|
|
Holding Company : |
· SABMiller Breweries Private Limited CIN No.: U99999MH1995PLC138600 |
|
|
|
|
Ultimate Holding Company : |
· SABMiller plc |
|
|
|
|
Significant
Influence : |
· SABMiller Asia and Africa BV |
|
|
|
|
Fellow Subsidiaries
: |
· S.p.A. Birra Peroni · SABMiller India Limited · SABMiller Management (IN) BV · SABMiller Africa and Asia (Pty) Limited · SABMiller Vietnam · SABMiller Europe AG · SABMiller (Asia) Limited · SABMiller International Brands Limited · SABMiller African Breweries Limited · Trinity Procurement GmbH · SABMiller Management BV · SABMiller India Holdings · Austindia Pty Limited |
CAPITAL STRUCTURE
As on 29.08.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000000 |
Equity Shares |
Rs.10/- each |
Rs.3000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
238425736 |
Equity Shares |
Rs.10/- each |
Rs.2384.257
Millions |
|
|
|
|
|
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000000 |
Equity Shares |
Rs.10/- each |
Rs.3000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
231183745 |
Equity Shares |
Rs.10/- each |
Rs.2311.837
Millions |
|
|
|
|
|
Notes:
(a) List of persons
holding more than 5 percent shares in the Company
|
Name of the share
holder |
As at 31 March 2012 |
|
|
|
No. of shares |
% holding |
|
SABMiller Breweries Private Limited |
142,067,977 |
61.45 |
|
SABMiller Asia BV |
87,341,038 |
37.78 |
|
|
|
|
(b) Reconciliation of
the number of shares outstanding at the beginning and at the end of the year
|
Particulars |
As at 31 March 2012 |
|
Number of shares at the beginning of the year |
231,183,745 |
|
Number of shares issued during the year |
-- |
|
Number of shares bought back during the period |
-- |
|
Number of shares outstanding at the end of the year |
231,183,745 |
Of the above, 142,067,977 (previous year: 142,067,511) equity shares of Rs. 10 each are held by SABMiller Breweries Private Limited, the immediate holding company. 87,341,038 (previous year: 87,341,038) equity shares of Rs. 10 each are held by SABMiller Asia BV. SABMiller plc is the ultimate holding company.
The Company has issued only one class of equity shares having a par value of Rs. 10 each. All equity shares carry similar voting rights of 1:1 and similar dividend rights.
There have been no buyback of shares, issue of shares pursuant to contract without payment being received in cash for the period of five years immediately preceding the balance sheet date.
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 |
2311.837 |
2311.837 |
2311.837 |
|
|
2] Share Application Money |
72.420 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1415.156 |
2276.923 |
2878.295 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3799.413 |
4588.760 |
5190.132 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
10892.043 |
9503.958 |
8745.273 |
|
|
TOTAL BORROWING |
10892.043 |
9503.958 |
8745.273 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
14691.456 |
14092.718 |
13935.405 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
10918.228 |
11055.061 |
10973.347 |
|
|
Capital work-in-progress |
371.316 |
158.768 |
495.095 |
|
|
|
|
|
|
|
|
INVESTMENT |
11.489 |
11.391 |
13.359 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2742.345
|
2187.252 |
1987.421 |
|
|
Sundry Debtors |
4652.811
|
3454.567 |
3270.633 |
|
|
Cash & Bank Balances |
178.925
|
380.500 |
410.301 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
1813.065
|
1361.633 |
867.393 |
|
Total
Current Assets |
9387.146
|
7383.952 |
6535.748 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1966.338
|
1643.967 |
1608.660 |
|
|
Other Current Liabilities |
3514.958
|
2372.735 |
2019.735 |
|
|
Provisions |
515.427
|
499.752 |
453.749 |
|
Total
Current Liabilities |
5996.723
|
4516.454 |
4082.144 |
|
|
Net Current Assets |
3390.423
|
2867.498 |
2453.604 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
14691.456 |
14092.718 |
13935.405 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
16662.852 |
14859.293 |
12669.005 |
|
|
|
Other Income |
46.072 |
114.216 |
234.659 |
|
|
|
TOTAL (A) |
16708.924 |
14973.509 |
12903.664 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
8604.114 |
7436.923 |
|
|
|
|
Purchase of stock in trade |
2.371 |
10.127 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and traded goods |
(66.406) |
130.889 |
|
|
|
|
Employee benefits expense |
1400.216 |
1144.002 |
|
|
|
|
Reversal of impairment loss |
(17.103) |
0.000 |
|
|
|
|
Other expenses |
5952.828 |
5085.948 |
|
|
|
|
TOTAL (B) |
15876.020 |
13807.889 |
12723.535 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
832.904 |
1165.620 |
180.129 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1152.900 |
818.569 |
797.279 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION (C-D) (E) |
(319.996) |
347.051 |
(617.150) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
872.589 |
950.690 |
805.280 |
|
|
|
|
|
|
|
|
|
|
PROFIT /
(LOSS) BEFORE TAX (E-F)
(G) |
(1192.585) |
(603.639) |
(1422.430) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.546 |
(2.267) |
0.132 |
|
|
|
|
|
|
|
|
|
|
PROFIT /
(LOSS) AFTER TAX (G-H) (I) |
(1194.131) |
(601.372) |
(1422.562) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(3624.878) |
(3023.506) |
(1600.944) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(4819.009) |
(3624.878) |
(3023.506) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
320.337 |
223.483 |
191.353 |
|
|
TOTAL EARNINGS |
320.337 |
223.483 |
191.353 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
69.907 |
78.446 |
295.144 |
|
|
|
Stores & Spares |
28.209 |
25.642 |
8.434 |
|
|
|
Capital Goods |
115.716 |
204.940 |
4.573 |
|
|
TOTAL IMPORTS |
213.832 |
309.028 |
308.151 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(5.01) |
(2.60) |
(6.15) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(7.15) |
(4.02) |
(11.02) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(7.16) |
(4.06) |
(11.23) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(5.87) |
(3.27) |
(8.12) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.31) |
(0.13) |
(0.27) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.87 |
2.07 |
1.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.57 |
1.63 |
1.60 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS DETAILS
(Rs.
In Millions)
|
Particulars
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Trade
Payables |
|
|
|
|
- Dues to micro and small enterprises |
31.187 |
14.902 |
|
|
- Dues to other creditors |
1831.408 |
1500.695 |
|
|
- Acceptances |
103.743 |
128.370 |
|
|
Total |
1966.338 |
1643.967 |
1608.660 |
|
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 |
Yes |
|
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 |
DETAILS
OF UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
TERM LOAN |
|
|
|
External Commercial Borrowings - from Banks |
2292.143 |
1771.759 |
|
Loans and Advances - from Related Party |
54.081 |
49.822 |
|
|
|
|
|
LOAN FROM BANKS REPAYABLE
ON DEMAND |
|
|
|
Bank Overdraft - from Banks |
125.819 |
309.539 |
|
Loans from Holding Company - from Related Parties |
0.000 |
2.338 |
|
|
|
|
|
OTHER LOANS AND
ADVANCES |
|
|
|
Working Capital Loan - from Banks |
8420.000 |
7370.500 |
|
Total |
10892.043 |
9503.958 |
NOTE:
The registered office
address of the company has been shifted from “No.1, Mahal Industrial Estate,
Mahakali Road, Andheri (East), Mumbai – 400093, Maharashtra, India” to the present
address w.e.f. 01.04.2011.
BACKGROUND:
Subject was incorporated as a private limited company under the Companies Act, 1956 on 18 November 1988. The Company is primarily engaged in the business of brewing, packaging, distribution, marketing and sale of beer.
OPERATIONS:
The revenue of the Company during the year 2011-12 has significantly
improved. The turnover increased by 20% to Rs.29870.000 Millions (includes
Rs.2050.000 Millions of demerged beer business of SABMiller Breweries Private
Limited) from Rs.24870.000 Millions in the previous year. Increase in volume is
mainly contributed by increasing market share in Andhra Pradesh, leveraging of
industry growth in Rajasthan and Karnataka, innovation led growth in
Maharashtra and also the addition of sales of SABMiller Breweries Private
Limited whose Brewery business was demerged and transferred to the company.
Cash losses for the year are mainly due to high interest cost on working capital
to meet higher sales volume and borrowings for capital expenditure, unplanned
maintenance work in breweries, higher actuarial valuation of leave salary and
gratuity and absorption of loss incurred by brewing business
of SABMiller Breweries Private Limited. There is a thrust on reduction
in operating expenses by stringent controls and monitoring. Due to rising
interest cost and utilisation of short-term funds towards long-term purposes,
the company is evaluating various options of recapitalising the business.
The capacity of the company has been augmented by entering into contract
packing arrangements in the States of Orissa and Punjab. The introduction of
proprietary bottle has also paid rich dividend and the company is able to
obtain return of its bottles at competitive rates. Efforts by other brewers to
use the bottles introduced by the company have been successfully defended.
The company has introduced many innovations and variants during the year
and has expanded its portfolio. Miller HighLife, Fosters Strong and Royal
Challenge Strong beers have been launched. The Company also introduced beer in
convenient packs of 250 ml. All these brands and variants have shown
encouraging trends in the markets they have been introduced.
The Board enjoys the unqualified support of all its financiers whose
confidence in the future of the company is evidenced by the fact that all
borrowings have been made without the bankers taking any charges over the
company's assets and are used for both short term and long term purposes.
DEMERGER OF BEER
BUSINESS OF SABMILLER BREWERIES PRIVATE LIMITED INTO THE COMPANY@
During the year, the beer business of SABMiller Breweries Private
Limited, a company of SABMiller Group has been demerged into the Company vide
the Order passed by the Hon'ble High Court of Bombay on 29th March 2012
sanctioning the Scheme of Arrangement. Consequent to the demerger, the beer
business of SABMiller Breweries Private Limited which inter alia includes all
the assets and liabilities, employees, all licences and permits of the beer
business stand transferred to the Company. Accordingly, all the breweries of
the SABMiller Group in India are now under the control of the company.
CONTINGENT LIABILITIES:
(Rs. In
Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
|
Claims against the Company
not acknowledged as debts in respect of: |
|
|
|
a)
Sales tax matters |
75.031 |
94.261 |
|
b)
Excise matters |
92.147 |
94.449 |
|
c)
Service tax matters |
158.537 |
153.443 |
|
d)
Custom matters |
0.261 |
0.261 |
|
e)
Other matters |
23.145 |
59.785 |
FIXED ASSETS:
· Freehold Land
· Leasehold Land
·
Buildings
·
Plant
and Machinery
·
Computer
Equipment
·
Furniture,
Fittings and Office Equipment
·
Motor
Vehicles
·
Brands
· Computer Software
WEBSITE DETAILS:
PRESS RELEASE
Partnership driving Crop productivity enhancement, soil and
water conservation and livelihood generation for small farmholders
• Additional water storage capacity of more
than 30000 m3 leading to groundwater recharge of about 75000m3
• Increase in moisture content by 10% in the
case of black soils and 5 % in case of red soils.
• Increased crop yield - Chickpea by 35%,
Cotton 12%, Paddy Grain 15%, Sugarcane 8%
• Increased income of Rs.0.050 Million per
family per annum benefitting 52 families
• Total profit made by Self Help Groups over a
year is Rs.0.120 Million
• 257 litres increase in milk production per
day
Andhra Pradesh, Feb 18, 2013:
SABMiller India, the Indian arm of SABMiller
Plc, one of the leading brewers in the country showcased the results of their
collaborative Integrated Water Resource Management project in partnership with
International Crops Research Institute for the Semi-Arid tropics (ICRISAT). The
initiative is in line with SABMiller`s global stewardship efforts.
Launched in 2010, the project spread over four
villages; Fasalvadi, Shivampet, Venkatakishtapur and Chakriyal, covering 2526
households with a total population of 12,940 on an area of 4500 hectares,
applies Integrated Genetic and Natural Resource Management (IGNRM) approach to
bring about sustainable management of water and enhanced livelihoods within the
watersheds. Mr. Dinakar Babu, Collector Medak District felicitated the
progressive farmers from the project villages and visited the project sites on
this occasion.
Through this initiative the attempt has been
to develop sustainable water resources in the surrounding areas while
contributing to improving the livelihoods of the people dependent on
agriculture. This has been attempted by improving agricultural productivity by adopting
rainwater conservation and harvesting and building capacity of the farmers in
the selected villages to develop sustainable water management practices that
enhance groundwater availability and use efficiency. As a result of
interventions so far, on an average, chickpea grain yields have increased
(mean) by 35%, cotton by 12%, paddy grain 15% and sugarcane by 8%. Further, the
income for small and marginal farmers has increased by Rs4730/hectare (20%) for
chickpea, Rs5730/hectare (11%) for cotton, Rs4270/hectare (10%) for paddy and
Rs19360/hectare (8%) for sugarcane.
The project also caters to providing micro
entrepreneurship opportunities to approximately 150 women from the Self Help
Groups (SHG) through the Spent Malt programme. These women collect malt from
the SABMiller India local brewery (Charminar brewery) and circulate it across
to farmers in the villages for feeding milch animals. It is a win-win project,
as the farmers benefit from significant increase in the production of milk from
1 litre per day to 3-5 litres of milk per day and on the other hand, the SHGs
have made a total profit of Rs 1, 20,000 over a period of a year.
Speaking on the occasion Mr. Ajit Jha,
Director- Corporate Affairs and Communications, SABMiller India said, “We are
working towards creating an increasingly holistic approach to water
stewardship. In addition to our on-going efforts to reduce, reuse and recycle
water within our own breweries, we are workingto drive performance improvement
in water efficiency, enhance focus on water availability assessment and
externally support collaborative resource management initiatives in Andhra
Pradesh along with States like Rajasthan and Haryana.”
Commenting at the event, Dr. Suhas P Wani,
Assistant Research Program Director, ICRISAT said, “The results achieved and
response of the farming community in the watershed towards the various
initiatives introduced over the last 3 years has been very encouraging. The
crop yields have increased by 10 to 35%, income generating activities have added
net income of Rs. 25 lakh for 50 families having animals. Such projects
demonstrate the importance of having partnerships (SABMiller India and ICRISAT)
to manage water efficiently and benefiting farmers through inclusive market
oriented development (IMOD) and improving their livelihoods in the process.”
According to farmer Mallesh from village
Fasalvadi, “My association with SABMiller India and ICRISAT has been very beneficial.
It has helped me get better crop yield and earn more by using IGNR techniques.
It has also helped us understand how to use water more efficiently”.
SABMiller India is also participating in water
4 crops initiative as part of the Indian consortium led by ICRISAT to explore
the use of treated wastewater to increase agricultural productivity and the
livelihoods of smallholder farmers in India. As co participants of the Water
Futures Partnership, along with WWF and GIZ, It is working towards building the
business case and creating mechanisms for companies to engage in local
collective action to help address shared water risks facing businesses,
communities and ecosystems.
Street play competition on responsible drinking and creating awareness
on HIV/AIDS conducted at FMS college
New Delhi, 28 Jan, 2013:
In a
bid to highlight social issues such as responsible drinking behavior and create
awareness about HIV/AIDS SABMiller India organized a street play competition in
the capital at the annual festival of FMS colleges’ ‘Fiesta 2013’. Enthusiastic
theatre groups of Delhi University colleges participated in this competition
and enacted effective messages that had the audiences enthralled with each
performance.
Teams from colleges like SRCC (Shri Ram College
of Commerce), Hans Raj, Daulat Ram, Dyal Singh, IMI Business School, PGDAV and
SGGS (Shri Guru Gobind Singh College) enacted a 25 minute play each on the
assigned themes. Two best performing teams (SGGS- Winners and PGDAV- Runners
up) were awarded total prize money of Rs. 30,000 whose performance was
moderated by Mr. Suman Kumar, Deputy Secretary-Drama at Sangeet Natak Akademi,
Ministry of Culture, Government of India. The winning teams will also get a
chance to perform at other social events hosted by SABMiller India.
“We are delighted to be associated with
Faculty of Management Studies during their annual fest ‘FIESTA 2013. It is a
great opportunity for us to reinforce the message of responsible drinking and
spread awareness about HIV/AIDS through the medium of street play. SABMiller
India remains committed to extend its support towards such initiatives that can
make a difference to the community and its well –being” said Mr. Ajit Jha,
Director - Corporate Affairs and Communication, SABMiller India.
Promoting responsible drinking and spreading
awareness about HIV/AIDS are key sustainable development priorities of
SABMiller. The company has been supporting and organizing street plays across
various management colleges in India like Symbiosis (Pune), MDI (Gurgaon) and
IIFT (Delhi).
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 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.53.94 |
|
|
1 |
Rs.82.77 |
|
Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.