MIRA
INFORM REPORT
|
Report Date : |
12.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
HENKEL ADHESIVES
TECHNOLOGIES INDIA PRIVATE LIMITED (w.e.f.17.11.2005) |
|
|
|
|
Formerly Known As : |
HENKEL LOCTITE INDIA PRIVATE LIMITED (w.e.f.16.07.2002) LOCTITE INDIA PRIVATE LIMITED |
|
|
|
|
Registered Office : |
10th
& 11th Floor, Kesar Solitaire, Plot No 5, Sector 19, Palm
Beach Road, Sanpada, Navi Mumbai – 400705, Maharashtra |
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|
Country : |
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|
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|
Financials (as on) : |
31.03.2012 |
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|
|
|
Date of Incorporation : |
01.01.1990 |
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|
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|
Com. Reg. No.: |
11-014390 |
|
|
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|
Capital Investment / Paid-up Capital : |
Rs.412.147 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U28933PN1990PTC014390 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BLRH01954B |
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|
|
|
PAN No.: [Permanent
Account No.] |
AAACL1954B |
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|
Legal Form : |
Private Limited
Liability Company |
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|
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|
Line of Business : |
Manufacturer and Seller of Industrial Adhesive Products and Trader of Hair Care Products. |
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|
|
|
No. of Employees : |
600
(Approximately) [In Office: 300 + In Factory: 300] |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (74) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
Maximum Credit Limit : |
USD 20000000 |
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|
|
|
Status : |
Excellent |
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|
Payment Behaviour : |
regular |
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Litigation : |
Clear |
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|
Comments : |
Subject is a well
established and a reputed company having fine track record. It is a part of
Henkel Group Worldwide. Trade relations are reported as trustworthy. Business
is active. The company has
achieved some growth in its income from operations during 2013. The company
operates on its own fund. Financial position of the company appears to be
sound. Payments are reported to be
regular and as per commitments. The company can
be considered excellent for business dealings at usual trade terms and
conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
We are living in a world
where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and the
US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial years
of the contagion but finally lost ground last year. GDP growth slowed down.
Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
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 PARTED BY
|
Name : |
Mr. Prasad Mulay |
|
Designation : |
Account Manager |
|
Contact No.: |
91-22-39296678 |
|
Date : |
12.08.2013 |
LOCATIONS
|
Registered Office / Factory 1 / Head
Office: |
10th
& 11th Floor, Kesar Solitaire, Plot No 5, Sector 19, Palm
Beach Road, Sanpada, Navi Mumbai – 400705, Maharashtra, India |
|
Tel. No.: |
91-22-39296600 |
|
Mobile No.: |
91-9833143736 (Mr. Prasad Mulay) |
|
Fax No.: |
91-22-39296602 |
|
E-Mail : |
|
|
Website : |
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|
Location : |
Owned |
|
|
|
|
Factory 2 : |
D73/2, D74/2, D74/6, TTC Industrial Area, Off Thane Belapur Road, Turbhe Naka, Navi Mumbai – 400705, Maharashtra, India |
|
Tel. No.: |
91-22-61296229 |
|
|
|
|
Factory 3 : |
Plot No.1/1, Part – 2, TTC Industrail Area, Thane Belapur Road, Koparkhairrne, Navi Mumbai – 400710, Maharashtra, India |
|
Tel. No.: |
91-22-77787348 |
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|
|
|
Brach Office : |
Located at · Gurgaon Uttarakhand
Chennai Pune
|
DIRECTORS
As on 28.09.2012
|
Name : |
Mr. Sundararaman Ramakrishnan Iyer |
|
Designation : |
Alternate Director |
|
Address : |
A-2/403, Gangotri Sadan CHS Limited, Bangur Nagar, Goregaon (West),
Mumbai – 400090, Maharashtra, India |
|
Date of Birth/Age : |
24.05.1960 |
|
Date of Appointment : |
19.11.2010 |
|
DIN No.: |
03303029 |
|
|
|
|
Name : |
Mr. Priyaranjan Das |
|
Designation : |
Director |
|
Address : |
G-202, Lancor Central Park (West), Elcot Avenue, Sholinganallur,
Chennai – 600119, Tamilnadu, India |
|
Date of Birth/Age : |
03.10.1974 |
|
Date of Appointment : |
13.04.2011 |
|
DIN No.: |
03461415 |
|
|
|
|
Name : |
Jeremy Hunter |
|
Designation : |
Director |
|
Address : |
105 Webb, St Warrandyte VIC, Australia 3113 |
|
Date of Birth/Age : |
16.05.1960 |
|
Date of Appointment : |
01.08.2011 |
|
DIN No.: |
03536491 |
|
|
|
|
Name : |
Marco Swoboda |
|
Designation : |
Director |
|
Address : |
Appartment, 2-3001 211, Xingfu Road, Changning District, Shanghai -
200052, China |
|
Date of Birth/Age : |
23.09.1971 |
|
Date of Appointment : |
14.12.2011 |
|
DIN No.: |
05146598 |
KEY EXECUTIVES
|
Name : |
Sumant Khedekar |
|
Designation : |
Secretary |
|
Address : |
1204, Mystic Ashar Enclave, Kolshet Road, Dhokali, Thane (West) –
4000607, Maharashtra, India |
|
Date of Birth/Age : |
10.03.1988 |
|
Date of Appointment : |
03.10.2011 |
|
PAN No.: |
BDBPK8867Q |
|
|
|
|
Name : |
Mr. Prasad Mulay |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Henkel KGaA,
Germany |
|
41214663 |
|
Inter
Beteligungsverwaltungs-Gesellschaft mbH, Germany |
|
1 |
|
Total |
|
41214664 |
As on 28.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Seller of Industrial Adhesive Products and Trader of Hair Care Products. |
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Products : |
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Exports : |
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Products : |
Finished Good |
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Countries : |
· UAE Sri
Lanka |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Germany |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
No. of Employees : |
600
(Approximately) [In Office: 300 + In Factory: 300] |
|
|
|
|
Bankers : |
· Deutsche Bank, Mumbai, Maharashtra, India State
Bank of India |
|
|
|
|
Banking Relations
: |
-- |
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|
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
Lodhi Excelus, 1st
Floor, Apollo Mills Compound, NM Joshi Marg, Mahalakshmi, Mumbai – 400011,
Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFB9852F |
|
|
|
|
Holding
company : |
Henkel AG and Company KGaA, Germany |
|
|
|
|
Subsidiaries,
Joint venture and Associates of ultimate holding company with whom
transactions has taken place : |
· Acheson Industries (Europe) Limited, Netherlands Dongsung
NSC Indonesia Limited. Acheson
Industries (Europe) Ld., UK Dongsung
Vietnam Company Limited Dongsung
Nsc Koreas Limited Henkel
Adhesive Technologies Sdn Bhd Henkel
(China) Company Limited Henkel
Adhesive Technologies Sdn Bhd, Malaysia Henkel
(China) Investment Company Limited Henkel
Adhesive Technology India Private Limited Henkel
(Malaysia) Sdn Bhd Henkel
Ag and Company Kgaa (Germany) Henkel
(Thailand) Limited Henkel
Corporation (USA) Henkel
Adhesive Technologies, Norden Ag Henkel
India Limited Henkel
Adhesives Company Limited Henkel
Italia S.P.A Henkel
Adhesives Company Limited, China Henkel
of America Henkel
Ag and Company Kgaa (Hong Kong Branch) Henkel
Taiwan Limited Henkel
Australia Limited ICI
Pakistan Limited, Nsc Business Henkel
Belgium N.V.Be National
Starch and Chemical Limited, Vietnam Henkel
Chembond Surface Technologies Limited National
Starch and Chemical (Shanghai) Limited Henkel
Chife Limited National
Starch and Chemical (Shanghai), Acheson Henkel
Industrial Adhesive Pakistan (Private) Limited National
Starch and Chemical, Ab, Sweden Henkel
Kenya Limited National
Starch and Chemical, France Henkel
Kenya Limited National
Starch and Chemical, Hong Kong Henkel
Loctite Adhesives Limited National
Starch and Chemical, Indonesia Henkel
Loctite Corporation National
Starch and Chemical, Malaysia Henkel
Ltda National
Starch and Chemical, Netherlands Henkel
New Zealand National
Starch and Chemical, Singapore Henkel
Philippines Inc National Starch and Chemical, Taiwan Henkel
Singapore Pte Limited National
Starch and Chemical, USA Henkel
Teroson India Limited National
Starch and Chemical (Guangdong) Limited Inter
National Starch And Chemical Company Inc National
Starch and Chemical (Saudi Arabia) Monsanto
Europenv for National Adhesives Corp. National
Starch and Chemical, Australia National
Starch and Chemical, Italy National
Starch and Chemical, Thailand National
Starch and Chemical, Korea National
Starch China (Shanghai) National
Starch and Chemical (M) SDN Pt
Dongsung Nsc, Indonesia OOO
Rushenk Turk
Henkel Kimya San Ve. Tic AS PT.
Henkel Indonesia |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
85750000 |
Equity Shares |
Rs. 10/- each |
Rs. 857.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
41214664 |
Equity Shares |
Rs. 10/- each |
Rs. 412.147 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
412.147 |
412.147 |
|
(b) Reserves & Surplus |
|
4600.980 |
4151.673 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
5013.127 |
4563.820 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
3.249 |
3.282 |
|
(d) long-term provisions |
|
6.805 |
2.744 |
|
Total Non-current Liabilities (3) |
|
10.054 |
6.026 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
71.436 |
|
(b) Trade payables |
|
1230.704 |
1126.902 |
|
(c) Other current
liabilities |
|
94.137 |
82.333 |
|
(d) Short-term provisions |
|
177.386 |
149.189 |
|
Total Current Liabilities (4) |
|
1502.227 |
1429.860 |
|
|
|
|
|
|
TOTAL |
|
6525.408 |
5999.706 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
2351.465 |
2308.159 |
|
(ii) Intangible Assets |
|
472.704 |
621.772 |
|
(iii) Capital
work-in-progress |
|
81.804 |
36.644 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
162.363 |
77.228 |
|
(d) Long-term Loan and Advances |
|
180.241 |
144.923 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
3248.577 |
3188.726 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
999.916 |
1044.222 |
|
(c) Trade receivables |
|
1711.900 |
1262.388 |
|
(d) Cash and cash
equivalents |
|
322.799 |
264.395 |
|
(e) Short-term loans and
advances |
|
222.744 |
227.548 |
|
(f) Other current assets |
|
19.472 |
12.427 |
|
Total Current Assets |
|
3276.831 |
2810.980 |
|
|
|
|
|
|
TOTAL |
|
6525.408 |
5999.706 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
412.147 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
3833.285 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
4245.432 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
4245.432 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
75.987 |
|
|
Capital work-in-progress |
|
|
1.143 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
1061.493 |
|
|
DEFERRED TAX ASSETS |
|
|
12.952 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
140.035
|
|
|
Sundry Debtors |
|
|
256.983
|
|
|
Cash & Bank Balances |
|
|
231.734
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
2905.893 |
|
Total
Current Assets |
|
|
3534.645 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
294.347 |
|
|
Other Current Liabilities |
|
|
142.087
|
|
|
Provisions |
|
|
4.354
|
|
Total
Current Liabilities |
|
|
440.788 |
|
|
Net Current Assets |
|
|
3093.857 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
4245.432 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8010.435 |
6156.356 |
1090.036 |
|
|
|
Other Income |
NA |
NA |
223.825 |
|
|
|
TOTAL (A) |
NA |
NA |
1313.861 |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
793.357 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
[Including
Financial Expenses] |
[Including
Financial Expenses] |
520.504 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
0.380 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1217.397 |
1074.605 |
520.124 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
521.362 |
290.177 |
26.251 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
696.035 |
784.428 |
493.873 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
246.728 |
321.861 |
169.441 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
449.307 |
462.567 |
324.432 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
990.123 |
717.993 |
618.881 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
46.257 |
32.443 |
|
|
|
Dividend |
0.000 |
144.180 |
192.877 |
|
|
BALANCE CARRIED
TO THE B/S |
1439.430 |
990.123 |
717.993 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export at FOB Value |
814.513 |
727.976 |
1.518 |
|
|
|
Commission Earnings |
0.000 |
0.000 |
2.735 |
|
|
TOTAL EARNINGS |
814.513 |
727.976 |
4.253 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2490.377 |
1492.059 |
217.695 |
|
|
|
Trading Goods |
387.782 |
692.960 |
70.068 |
|
|
|
Capital Goods |
34.212 |
0.065 |
2.202 |
|
|
TOTAL IMPORTS |
2912.371 |
2185.084 |
289.965 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
10.90 |
11.22 |
7.87 |
|
|
Particulars |
|
|
31.03.2013 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
12000.000 |
|
|
|
|
|
The above information has been parted by Mr. Prasad Mulay (Manager in
Accounts)
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA |
NA |
24.69 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.69
|
12.74 |
45.31 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.08
|
13.33 |
13.68 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.17 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.02 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.18
|
1.97 |
8.02 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Current maturities of long-term debt |
0.000 |
0.000 |
NA |
|
|
|
|
|
|
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
four 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 |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
90258976 |
10/03/2004 * |
25,900,000.00 |
BANK OF BAHRAIN & KUWAIT BSC |
SOMAJIGUDA, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
2 |
90258919 |
10/03/2004 * |
25,900,000.00 |
BANK OF BAHRAIN & KUWAIT BSC |
SOMAJIGUDA, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
3 |
90258745 |
26/09/2001 |
2,970,000.00 |
ANDHRA PRADESH STATE FINANCIAL CORPORATION BANK |
CHIRAG ALI LANE, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
4 |
90258491 |
30/04/1999 |
500,000.00 |
A.P.S.F.C. |
CHIRAG ALI LANE, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
5 |
90258154 |
14/10/2002 * |
8,000,000.00 |
CORPORATION BANK |
SIDDLAMBER BAZARE, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
6 |
90257696 |
31/01/1995 * |
1,000,000.00 |
CANARA BANK |
SOUTH EXTENSION PART- 1, NEW DELHI, INDIA |
- |
|
7 |
90263137 |
31/01/1995 * |
400,000.00 |
CANARA BANK |
SOUTH EXTENSION PART- 1, NEW DELHI, INDIA |
- |
|
8 |
90257465 |
12/06/1987 |
73,000.00 |
CANARA BANK |
SOUTH EXTENSION PART- 1, NEW DELHI, INDIA |
- |
|
9 |
90263133 |
21/07/1995 * |
100,000.00 |
CANARA BANK |
SOUTH EXTENSION PART- 1, NEW DELHI, INDIA |
- |
|
10 |
90257392 |
31/01/1995 * |
100,000.00 |
CANARA BANK |
SOUTH EXTENSION PART- 1, NEW DELHI, INDIA |
- |
|
11 |
90257373 |
31/01/1995 * |
225,000.00 |
CANARA BANK |
SOUTH EXTENSION PART- 1, NEW DELHI, INDIA |
- |
|
12 |
90263132 |
27/11/1994 * |
225,000.00 |
CANARA BANK |
SOUTH EXTENSION PART- 1, NEW DELHI, INDIA |
- |
|
13 |
90257372 |
31/05/1985 |
110,000.00 |
CANARA BANK |
SOUTH EXTENSION PART- 1, NEW DELHI, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
SHORT-TERM
BORROWINGS |
|
|
|
Other loans and advances |
0.000 |
71.436 |
|
Total |
0.000 |
71.436 |
BACKGROUND
The Company is a private limited Company incorporated under the
provisions of the Companies? Act, 1956 on 1 January 1990 and is a subsidiary of
Henkel AG and Co KGaA, a company incorporated in Germany. The Company is in the
business of manufacture and sale of industrial adhesive products and trading of
hair care products in India. Henkel CAC Private Limited, a subsidiary of the
Company was amalgamated with the Company w.e.f 1 April 2010. During the year
the Company acquired the hair care products business form Henkel India Limited.
AMALGAMATION OF
COMPANY’S WHOLLY OWNED SUBSIDIARY, HENKEL CAC PRIVATE LIMITED
The Scheme of Amalgamation (the Scheme) of Henkel CAC Private Limited (the Amalgamated Company) with the Company was sanctioned by the Hon’ble High Court of Judicature at Bombay on 10 June 2011. The Company has filed the certified copy of the Order with Registrar of Companies on 15 September 2011.
In accordance with the scheme, all assets and liabilities of
the Amalgamated Company were transferred to and vested in the Company with
effect from 1 April 2010 (The Appointed Date) and recorded by the Company at
their fair values. The Scheme was accordingly been given effect to in the
financial statements for the previous year ended 31 March 2011, which include
the assets and liabilities of the Amalgamated Company with effect from 1 April
2010 and the results of operations for the year ended 31 March 2011. In terms
of the Scheme, the fair value of assets and liabilities were required to be adopted
as at 1 April 2010. The fair value of the assets and liabilities of the
Amalgamated Company was determined by independent valuer.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. in Millions) |
|
|
Contract Labour matter pending before the Industrial
Tribunal, Maharashtra |
4.114 |
4.114 |
|
Appeal against the Tax Assessment orders, pending before
the Sales Tax Authorities |
1.109 |
1.109 |
|
Claims against the Company for excise duty not provided |
51.300 |
0.000 |
|
Total |
56.523 |
5.223 |
FIXED ASSETS:
· Land
· Buildings
· Factory building
· Plant and equipment
· Other plant and equipment
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Office equipment
· Computer equipments
· Other equipments
· Leasehold improvements
· Goodwill
· Computer software
PRESS RELEASE
NEW BRANDING ARCHITECTURE FOR THE HENKEL ADHESIVE TECHNOLOGIES BUSINESS
SERVING INDUSTRIAL MARKETS
02/19/2013,
Düsseldorf / Germany
Henkel will introduce a new branding approach for its industrial adhesive technologies business. The company’s brand portfolio has grown strongly over the past decades and has enabled Henkel to become the global market leader in adhesives, sealants and surface treatments. To improve the navigation through the brand portfolio, Henkel will now re-group its industrial business for adhesive technologies under five technology cluster brands, each of which will represent a cluster of specific technologies and applications.
In addition to organic growth, Henkel has made numerous acquisitions over the past years. With this, Henkel has been able to provide its customers with high-quality service and a multitude of solutions. However, as Henkel has retained a large number of product names and brands, the offer of industrial adhesive technologies has become quite complex. This was confirmed by a recent customer survey.
Therefore, Henkel has decided to introduce a new branding approach that will align the portfolio under five brands. All products will be re-grouped under five technology cluster brands. Each of them will represent a cluster of specific technologies:
Henkel’s LOCTITE® is the trusted choice for engineered, high performance adhesive, sealant and coating solutions.
Henkel’s BONDERITE® products represent the surface technology solutions that create competitive advantage in the customers’ manufacturing processes.
Henkel’s TECHNOMELT® is the leading choice for hot melt adhesives designed for best results in the customers’ applications and production processes.
Henkel’s TEROSON® is the driving brand for bonding, sealing, coating and reinforcing in automotive body and vehicle repair and maintenance (VRM) applications.
Henkel’s AQUENCE® is the innovative, sustainable water-based adhesive solution.
“As the global leader in adhesives, sealants and surface technologies, we are committed to delivering a portfolio that our customers can navigate more intuitively,” said Jan-Dirk Auris, head of Henkel’s adhesives business. “In addition, this aligned structure will enable Henkel to provide optimized customer service and technology solutions more quickly in the future.”
HENKEL TO ACQUIRE POLISH LAUNDRY AND HOME CARE BRANDS FROM PZ CUSSONS
2/20/2013, Düsseldorf
/ Germany
Henkel has signed an agreement with the UK-based consumer products company PZ Cussons Plc to acquire their Polish Laundry and Home Care brands. The transaction includes predominantly detergents and fabric softeners of the “E” brand, and other smaller brands. The business operates mainly in Poland but also includes activities in Russia and other Central Eastern European countries.
The acquisition is in line with Henkel’s global strategy to further develop its three business sectors and strengthens a key growth region of the Laundry and Home Care business. “The acquisition is a perfect fit with our existing business in the CEE region and will further strengthen our position in Poland and Russia, which are both attractive markets for Henkel and within our growth regions”, said Bruno Piacenza, Executive Vice President and responsible for Henkel’s Laundry and Home Care business.
In fiscal year 2012, the Laundry and Home Care brands to be acquired generated sales of around 60 million euros. The agreement on the sale was signed on February 20, 2013. The acquisition is subject to merger control clearance and is expected to be closd in the third quarter of 2013.
HENKEL EXPANDS LINE-UP TO REDEFINE INDIAN FLEXI PACK LAMINATING AND
COATING INDUSTRY
10th October, Chennai: Henkel Adhesive Technologies India launched an extended line up of laminates and coating products both solvent and water based that are immensely beneficial to the flexi pack laminating process.
One of the world’s largest providers of adhesives, Henkel has a wide portfolio of products and applications that cater to a whole spectrum from manufacturing anaerobic adhesives, cyanoacrylate, polymer composites and seal laminating adhesives.
The definitive range includes Electron Beam Coatings Liofol OP 1329, Heat Seal Liofol Range, CAC 4644, a water-based emulsion for laminating film/or paper and Liofol LA 7749 & UR 6020. The introduction of the expanded line-up in the Indian market is a reflection of the faith Henkel customers repose in the products. It is also an affirmation of Henkel’s commitment to innovation, quality and perfection.
The line-up was unveiled by Mr. Thomas Auris, Senior VP, Asia-Pacific, Henkel
Group. The EB Coatings or Electron Beam Cured Coatings Liofol OP 1329 is a
state of the art radiation cure technology coating. EB coating is
superior to UV coating in terms of food safety. This coating helps to
reduce the 3-ply laminate to 2-ply and a 2-ply to a mono-web, by enabling surface
printing without the risk of print scuffing. It is mono-component grade,
having near infinite pot life and is processed at a room temperature and
affords attractive optics whether high gloss or matt.
Heat Seal Liofol Range of Coatings is water based and solvent based for
lidding. This finds application chiefly in yoghurt cups lids and blister packs
of medicine tablets. The lacquer is applied as a coating on a
substrate which is then sealed through heat and pressure. Substrates can range
from aluminum to various kind of plastics and papers. The cup stock can
be Polyester, Polystyrene, PVC, Polypropylene, PE, PAper etc and a range of
heat seal coating has been designed to optimise the various combinations of
cups, lids and the products to be packed. The coatings conform to
the relevant food safety regulation pertinent to direct contact with
food.
CAC 4644, a water based wet lamination adhesive works on different types of
paper like glassine, chromo art, poster, etc. and has extremely low odour
level. It is environment friendly and is a single component requiring
practically no dilution and mixing.
Liofol LA 7749 / UR 6020 is the latest offering from the Liofol Solvent Free
Adhesives range which is a cold applied (35-40 deg C) and has excellent
wettability. It gives good optics in metalized films and foil. It can be
run at high speeds in the machine increasing productivity.
The Liofol brand under Henkel is a 40 year old brand today because it has
consistently delivered performance and quality to its stakeholders. It is
trusted by the packaging industry from the Americas to Europe and Asia. In
spite of a slowing global economy, India has been a rapidly growing market,
with the size of the packaging industry being pegged at USD 18.8 billion and
growing at 15% per annum.
For Henkel, India is central to the APAC region and presents a huge
opportunity. Speaking on the occasion, Mr. Ashish Pradhan, Business Director,
Henkel India averred, “One of the key focus areas for Henkel is On Site
Services that include Start-up and technical support during production and
start-through assistance of qualified Henkel specialists. This is a key
differentiator and definite value add for customer.”
A detailed start-up protocol is part of Henkel service and it includes
individual technical training on clients production lines by Henkel
specialists. This also includes troubleshooting analysis with quality control
support for optimal processing with quality check of produced parts and
detailed test reports. The focus is on application, development and evaluation
of improvements in adhesive processing. The joint analysis of current
production process ensures maximum efficiency control options and optimization
of processes.
About Henkel India
Henkel Adhesive Technologies India Private Limited is the market leader in
adhesives, sealants and surface treatments for consumers, craftsmen, and
industrial applications. Headquartered in Mumbai, Henkel has a well balanced
portfolio of international, regional and local products that are used in
diverse segments ranging from electronics, automotive, manufacturing aerospace
to biomedical industries. Well-known brands include Loctite, Teroson and
Bonderite. Under the Cosmetics/Toiletries division, Henkel portfolio includes
Schwarzkopf Professional and Indola Professional. Henkel Adhesive Technologies
India Private Limited is a subsidiary of Henkel AG & Co.KGaA Germany.
Henkel operates worldwide with leading brands and technologies in three
business areas: Laundry and Home Care, Beauty Care and Adhesive Technologies.
Founded in 1876, Henkel holds globally leading market positions both in the
consumer and industrial businesses with well-known brands such as Persil,
Schwarzkopf and Loctite. Henkel employs about 47,000 people and reported sales
of 15,605 million euros and adjusted operating profit of 2,029 million euros in
fiscal 2011. Henkel’s preferred shares are listed in the German stock index DAX
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] 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.61.12 |
|
|
1 |
Rs.94.77 |
|
Euro |
1 |
Rs.81.54 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
74 |
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.