MIRA INFORM REPORT
|
Report Date : |
17.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
HINDUSTAN COCA-COLA BEVERAGES PRIVATE LIMITED (w.e.f. 11.10.1999) |
|
|
|
|
Formerly Known
As : |
|
|
|
|
|
Registered
Office : |
13, Abul Fazal Road, Bengali Market, New Delhi – 110 001 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
14.02.1997 |
|
|
|
|
Com. Reg. No.: |
55-085151 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.13304.156 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1997PTC085151 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELH04006C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACH3005H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in manufacturing and distribution of non-alcoholic
beverages. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
|
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 92563000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a subsidiary of “Hindustan Coca Cola Holdings Private
Limited”. It is a well established and reputed company having a good track
record. The latest financials are not available. As per the previous year’s,
the performance of the company seems to be good. The fundamentals appear to
be healthy and strong. Liquidity position is good. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitment. The company can be considered normal business dealings 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
FITCH |
|
Rating |
Long term issue rating : AAA |
|
Rating Explanation |
The rating denotes the lowest expectation of default risk. |
|
Date |
March, 2013 |
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 : |
13, Abul Fazal Road, Bengali Market, New Delhi – 110 001, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
3rd
Floor, Orchid Centre, DLF Golf
Course Road, Sector 53,
Gurgaon – 122 001, Haryana, India |
|
Tel. No.: |
91-124-6755500/ 4705600 |
|
Facsimile No.: |
91-124-6755501 |
|
|
|
|
Zonal Office : |
Located at: · Ahmedabad · New Delhi · Hyderabad · Chennai · Bangalore · Cochin · Patna · Bhubaneswar ·
Mumbai |
DIRECTORS
AS ON 25.09.2012
|
Name : |
Mr. Milind Ramchandra Pingle |
|||||||||||||||||||||||||||
|
Designation : |
Whole Time Director |
|||||||||||||||||||||||||||
|
Address : |
A 203, Kings Corner Building, Opposite Victoria Church, L J Road,
Mahim, Mumbai-400016, Maharashtra, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
28.08.1965 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
26.09.2008 |
|||||||||||||||||||||||||||
|
DIN No.: |
02139018 |
|||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||
|
Name : |
Mr. Thirumalai Krishnakumar |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
Flat No. 12-A, GH-6, |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
20.10.1959 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
21.09.2010 |
|||||||||||||||||||||||||||
|
DIN No.: |
00079047 |
|||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||
|
Name : |
Mr. Sunil Gupta |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
Flat No-504, |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
16.11.1968 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
21.09.2010 |
|||||||||||||||||||||||||||
|
DIN No.: |
01760999 |
|||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||
|
Name : |
Mr. Shukla Wassan |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
Y-141, Regency Park II, DLF Phase IV, Gurgaon-122009, |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
18.12.1959 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
21.09.2010 |
|||||||||||||||||||||||||||
|
DIN No.: |
02770898 |
|||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||
|
Name : |
Mr. Patrick George Yadauga |
|||||||||||||||||||||||||||
|
Designation : |
Additional Director |
|||||||||||||||||||||||||||
|
Address : |
1432, |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
09.06.1956 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
15.09.2011 |
|||||||||||||||||||||||||||
|
DIN No.: |
03483196 |
|||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||
|
Name : |
Mr. Venkata Ramana Murthy Pinisetti |
|||||||||||||||||||||||||||
|
Designation : |
Additional Director |
|||||||||||||||||||||||||||
|
Address : |
Flat No.201, Tower-3, Vipul Valmont Golf Course Raod, Sector-53, NR to
Vatika Office, Gurgaon-122002, |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
11.01.1961 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
15.09.2011 |
|||||||||||||||||||||||||||
|
DIN No.: |
03483544 |
|||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||
|
Name : |
Mr. Jawahar Solai Kuppuswamy |
|||||||||||||||||||||||||||
|
Designation : |
Whole Time Director |
|||||||||||||||||||||||||||
|
Address : |
Flat No.0602, 6th Floor, Block No.11, Nirvana Counrty,
Gurgaon-122018, |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.05.1964 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
25.09.2012 |
|||||||||||||||||||||||||||
|
DIN No.: |
05179638 |
|||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Shukla Wassan |
|
Designation : |
Company Secretary |
|
Address : |
Y-141, Regency Park II, DLF Phase IV, Gurgaon-122009, |
|
Date of Birth/Age : |
18.12.1959 |
|
Date of Appointment : |
01.07.2008 |
|
PAN No.: |
AAHPW8633J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.09.2012
|
Names of Equity Shareholders (Class A) |
No. of Shares |
|
Hindustan Coca-Cola Holdings Private Limited, |
259250280 |
|
The HCCB Employees Welfare |
20250100 |
|
The HCCB Employees Stock Options |
20250020 |
|
Sunil Gupta |
1 |
|
Ravinder Narain |
3 |
|
Dadachanji Behram Jamshed |
4 |
|
Ponnacle Trades International Private Limited, |
250000 |
|
Total
|
300000408 |
|
Names of Equity Shareholders (Class B) |
No. of Shares |
|
Hindustan Coca-Cola Holdings Private Limited, |
248469047 |
|
Total
|
248469047 |
|
Names of 1% Redeemable Non Cumulative, Non-Participative Preference
Shareholders |
No. of Shares |
|
Hindustan Coca-Cola Holdings Private Limited, |
803359200 |
|
Total
|
803359200 |
Equity Share Break up (Percentage of Total Equity)
AS ON 25.09.2012
|
Category |
Percentage |
|
Bodies corporate |
92.62 |
|
Other top fifty shareholders |
7.38 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing and distribution of non-alcoholic
beverages. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity # |
|
Beverage in RGB |
Per annum |
254298750 |
|
Beverage in PET |
Per annum |
160947947 |
|
Beverage in Can |
Per annum |
14025000 |
|
Beverage in Tetra Packs |
Per annum |
7366667 |
|
Bulk Water |
Per annum |
3366000 |
In physical cases except for Bulk Water, which is in nos.
Licensed capacity has not been mentioned in view of De-licensing clause
by Government.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S R Batliboi and Company Chartered Accountants |
|
Address : |
Golf View Corporate Towers- B, Sector-42, |
|
Tel. No.: |
91-124-4644000 |
|
Fax No.: |
91-124-4644050 |
|
PAN No.: |
AALFS0506L |
|
|
|
|
Holding Company (31.03.2011) : |
Hindustan Coca-Cola Holdings Private Limited CIN No.:- U74899DL1997FTC085304 |
|
|
|
|
direct or indirect control over the company (31.03.2011) : |
·
·
Bharat Coca-Cola Overseas Holdings Pte. Limited, ·
The Coca-Cola Export Corporation, ·
The Coca-Cola Company, |
|
|
|
|
Group companies where common control exists and with whom transactions
have taken place during the year (31.03.2011) : |
·
Coca-Cola India Private Limited (CCIPL) CIN No.:-
U15549PN1992FTC065522 · · Atlantic
Industries, · Soft Drink
International, · Coca-Cola India,
Inc. – Headquarters · Coca-Cola
Bottlers |
|
|
|
|
Subsidiaries (31.03.2011) : |
·
Hindustan Coca-Cola Marketing Company Private
Limited (HCCM) CIN No.:-
U51227DL2000PTC106974 |
CAPITAL STRUCTURE
AS ON 25.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
650000000 |
Equity Shares |
Rs.10/- each |
Rs.6500.000 Millions |
|
900000000 |
Preference Shares |
Rs.10/- each |
Rs.9000.000 Millions |
|
|
Total
|
|
Rs.15500.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
548469455 |
Equity Shares |
Rs.10/- each |
Rs.5484.694 Millions |
|
803359200 |
Preference Shares |
Rs.10/- each |
Rs.8033.592 Millions |
|
|
Total |
|
Rs.13518.286 Millions |
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
350000000 |
Equity Shares (Class A) |
Rs.10/- each |
Rs.3500.000 Millions |
|
300000000 |
Equity Shares (Class B) |
Rs.10/- each |
Rs.3000.000 Millions |
|
900000000 |
Preference Shares |
Rs.10/- each |
Rs.9000.000 Millions |
|
|
Total |
|
Rs.15500.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000408 |
Equity Shares (Class A) |
Rs.10/- each |
Rs.3000.004 Millions |
|
227055952 |
Equity Shares (Class B) |
Rs.10/- each |
Rs.2270.560 Millions |
|
803359200 |
Preference Shares |
Rs.10/- each |
Rs.8033.592 Millions |
|
|
Total |
|
Rs.13304.156 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 |
13304.156 |
12426.453 |
12426.453 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
24549.752 |
6995.704 |
6995.704 |
|
|
4] (Accumulated Losses) |
(14713.212) |
(16694.259) |
(18826.592) |
|
|
NETWORTH |
23140.696 |
2727.898 |
595.565 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
1061.820 |
12427.000 |
10790.000 |
|
|
TOTAL BORROWING |
1061.820 |
12427.000 |
10790.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
24202.516 |
15154.898 |
11385.565 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
20673.431 |
17065.982 |
14585.502 |
|
|
Capital work-in-progress |
2555.434 |
2022.964 |
835.463 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.072 |
0.072 |
0.072 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
9501.219
|
8253.218 |
7261.314
|
|
|
Sundry Debtors |
679.246
|
327.773 |
379.409
|
|
|
Cash & Bank Balances |
5346.029
|
314.944 |
143.597
|
|
|
Other Current Assets |
14.509
|
1.174 |
23.458
|
|
|
Loans & Advances |
2294.950
|
1875.372 |
1911.675
|
|
Total
Current Assets |
17835.953
|
10772.481 |
9719.453 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
7745.182
|
10414.675 |
9869.249
|
|
|
Other Current Liabilities |
7840.142
|
3033.115 |
2930.973
|
|
|
Provisions |
1277.050
|
1258.811 |
954.703
|
|
Total
Current Liabilities |
16862.374
|
14706.601 |
13754.925 |
|
|
Net Current Assets |
973.579
|
(3934.120) |
(4035.472)
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
24202.516 |
15154.898 |
11385.565 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
45406.000 |
38456.000 |
27430.000 |
|
|
|
Other Income |
363.000 |
411.000 |
731.000 |
|
|
|
TOTAL (A) |
45769.000 |
38867.000 |
28161.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
40394.000 |
33751.000 |
26605.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
5375.000 |
5116.000 |
1556.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
178.000 |
809.000 |
1101.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5197.000 |
4307.000 |
455.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3216.000 |
2174.000 |
1679.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
1981.000 |
2133.000 |
(1224.000) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
58.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
1981.000 |
2133.000 |
(1282.000) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Carbonated Soft Drinks |
4.652 |
3.359 |
6.997 |
|
|
TOTAL EARNINGS |
4.652 |
3.359 |
6.997 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Packaging Materials |
1261.684 |
1279.686 |
313.512 |
|
|
|
Stores & Spares |
115.407 |
62.453 |
37.493 |
|
|
|
Capital Goods |
1582.000 |
946.669 |
1599.672 |
|
|
TOTAL IMPORTS |
2959.091 |
2288.808 |
1950.677 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
3.92 |
4.85 |
(2.94) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.33
|
5.49 |
(0.04) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.36
|
5.55 |
(4.46) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.14
|
7.66 |
(5.04) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.78 |
(2.06) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.05
|
4.56 |
18.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06
|
0.73 |
0.71 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
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)
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 |
Yes |
CASE DETAILS:
Commissioner Of Income Tax - Iv vs Hindustan
Coca Cola Beverages ... on 14 January, 2011
Author:
Dipak Misra,Chief Justice
* THE
HIGH COURT OF DELHI AT NEW DELHI
Judgment
Reserved on: 28th September, 2010
%
Judgment Pronounced on: 14th, January, 2011
+ ITA
Nos.1391/2010, 1394/2010 & 1396/2010
COMMISSIONER
OF INCOME TAX - IV ..... Appellant Through: Mr.Sanjeev Sabharwal, Adv.
versus
BEVERAGES
PVT. LTD. ..... Respondent Through: Mr. Ajay Vohra and Ms. Kavita Jha, Advs.
UNSECURED LOAN:
Rs.
In Millions
|
Particulars |
31.03.2011 |
31.03.2010 |
|
Rupee term loans
unsecured : |
|
|
|
Rupee term loans banks unsecured |
0.000 |
11480.000 |
|
Public deposits unsecured |
1057.624 |
935.427 |
|
Interest accrued
due unsecured loans : |
|
|
|
Interest accrued due other debt unsecured |
4.196 |
11.573 |
|
TOTAL |
1061.820 |
12427.000 |
NATURE OF
OPERATIONS:
The Company is a
subsidiary of Hindustan Coca-Cola Holdings Private Limited and is engaged in
manufacturing and distribution of non-alcoholic beverages under the authority
of ‘The Coca-Cola Company’,
OPERATION OF THE COMPANY:
During the
Financial Year 2010-2011, The Company made great strides in operations by
adding significant outlets and improved the ground execution and executed a strong
trade marketing calendar.
The Company
started the Financial Year on a very strong note. However, the unfavourable
weather conditions in the country together with unprecedented increase in
commodity as well taxes affected its performance during the Financial Year.
Inspite of the unfavourable conditions, the Company improved a Net Sales to Rs.
45406.000 Million for the year ended March 31, 2011 as against Rs. 38456.000
Million during the previous financial year, a growth of 18%. After providing
Rs.178 Million towards Interest and finance charges (previous year Rs. 809.000
Million), and Rs. 3216.000 Million towards depreciation (previous year, Rs.
2174.000 Million) The Company has reported a net profit of Rs. 1981.000 Million
for the Financial Year as against a net profit of Rs. 2133.000 Million during
the previous Financial Year. The accumulated loss in the books of the Company
as at March 31, 2011 is Rs. 14713.000 Millions (previous year Rs. 16694.000
Millions).
The Company
further standardized execution system across the franchises in all categories.
This helped to streamline ground operations as well as trade management.
To support its
growth plans, the Company has invested Rs. 6920.000 Millions primarily towards
expansion of its capacities and in Sales generating assets to increase the
Sales.
Subsidiary of the
Company, M/s Hindustan Coca-Cola Marketing Company Private Limited [“HCCM”],
has discontinued its operations from May, 2008 and the management of HCCM is
exploring various other business options.
NEW PRODUCT LAUNCHES:
Sleek can was a
new package launched in February, 2011. The Company is hopeful that the Sleek
Cans would continue to be an important growth engine for the coming years.
The Company made
its first step into entering the bottom of pyramid with the launch of Fanta
powder pack in
FUTURE OUTLOOK:
The Company is
confidant of continuing the growth in business which it has been generating and
hopes to grow in both the short term and long term. Core sparkling and Juice
would continue to be major drivers in the coming years. This would be
supplemented by new product and pack launches.
The Company would
continue investing in manufacturing capacities, supply chain capabilities and
sales generating assets in line with the growth plans.
FIXED ASSETS:
·
·
·
Building
·
Plant and Machinery
·
Sales Generating Assets
·
Furniture and Fittings
·
Vehicles
·
Goodwill
·
Computer Software
WEBSITE DETAILS:
PRESS RELEASES:
BEVERAGE MAKER
COCA-COLA LAUNCHES ONLINE STORE IN INDIA; IS IT LOOKING AT MULTI-BRAND
E-TAILING?
Coca-Cola has launched Coke2Home.com, an online store for home delivery of the group’s various beverage products. This is one of the rare such instances of a large consumer products maker getting into direct selling through an online channel in India.
The website is run by Hindustan Coca-Cola Beverages Private Limited, the largest bottling partner of The Coca-Cola Company in India. It is a part of The Coca-Cola Company’s Bottling Investments Group and is responsible for manufacturing, packaging, selling and distributing beverages under the trademarks of The Coca-Cola Company.
Hindustan Coca-Cola Beverages has 24 bottling plants across India, covering approximately two-thirds of bottling operations for the Coca-Cola group in India.
Its products include key brands such as Coca-Cola, Thums Up, Sprite, Fanta, Limca, Kinley Soda, Schweppes Tonic Water, Maaza and Minute Maid.
The service is currently available in Ahmedabad municipality only. Customers need to book their orders before 12 noon to get products home-delivered the same day. You can also place bulk order or monthly supplies of products.
Minimum order for delivery is Rs.300, as of now. The company accepts multiple modes of payment, including cash on delivery cash card, credit card, debit card and net banking.
What is interesting is how the firm has structured the venture to sell its products which in effect amounts to multi-brand e-tailing in which foreign investment is not allowed. We are getting in touch with the Coca-Cola spokesperson in India for more details and will update when we have more information.
The development was first reported by The Times of India.
Early this year, the country’s top FMCG firm Hindustan Unilever said it is looking at building capabilities for e-commerce as a stronger distribution channel. The firm had not given details whether it is looking at launching its own e-com property as a direct sales venture or wants to strengthen its existing network catering to other e-tailers who sell its products.
·
Hindustan
Coca-Cola Beverages Private Limited. partners with Salman Khan's Being Human foundation
to scale up Career Development Centre; initiative to empower rural, educated
and underserved youth through training aimed to enhance their employability
·
Mr.
T. Krishnakumar, Chief Executive Officer, Hindustan Coca-Cola Beverages Private
Limited., Mr. P. Rajendran Chief Operating Officer and Co-founder of NIIT
Limited. and superstar Salman Khan unveil new logo for the Career Development
Centre
·
Initiative
to be scaled up by establishing Career Development Centres in Andhra Pradesh,
Karnataka ,
Noida, February 15,
2013: Hindustan Coca-Cola Beverages Private Limited
(HCCBPL)., today announced their partnership with actor Salman Khan's Being
Human foundation, to scale up Career Development Centre (CDC), an initiative to
empower rural, educated and underserved youth. The initiative, in association
with NIIT Foundation and NGO Gram Niyojan Kendra, established its pilot centre
near the HCCBPL bottling plant at Dasna and is now set to extend its reach to the states of Andhra Pradesh, Karnataka,
Present at the event
were Mr. T. Krishnakumar, Chief
Executive Officer, Hindustan Coca-Cola Beverages Private Limited., Mr. P.
Rajendran Chief Operating Officer and Co-founder of NIIT Limited., Prof. K.K.
Mukherjee of Gram Niyojan Kendra and youth icon, superstar Salman Khan.
Since its inception,
the initiative has benefitted over 209 youth, helping them get their first jobs
by providing them training aimed to enhance their employability at a low cost.
The event also witnessed unveiling of the new logo of Career Development
Centre. Several students who have benefitted under the program were felicitated
for their achievements, with many coming forward to share their experiences.
Speaking at the event, Mr. T. Krishnakumar, Chief Executive Officer,
Hindustan Coca-Cola Beverages Private Limited. said, "Career
Development Centre is part of Hindustan Coca-Cola Beverage's inclusive growth
agenda. Our vision is to bring quality training within easy reach of the
educated, unemployed and underserved youth to enhance their employability
potential and bring them into the employment mainstream. Over the past 2 years,
our first Career Development Centre near Dasna has witnessed commendable
success by opening opportunities for over 200 youth with employers across
industry. It gives me immense pleasure to welcome our new partner, Being Human and
Speaking about the association, popular
actor Salman Khan said, "The training provided by CDC is very
practical and prepares the youth for entry level jobs. Being Human - The Salman
Khan Foundation is proud to partner with this endeavor."
Speaking on the
occasion, Mr. P Rajendran, COO, NIIT
Limited said, "We are delighted to welcome Mr. Salman Khan and his
NGO Being Human on board to further
enhance the reach and impact of the Career Development Centres (CDC). As this
initiative continues to grow across the country, we look forward to making a
transformational difference to the lives of many more unemployed &
under-privileged youth by training them for livelihood and self-reliance."
"Each partner –
NIIT Foundation, Being Human and Hindustan Coca-Cola Beverages – brings unique
strengths to the initiative and I believe the CDCs are now equipped more than
ever to enable and inspire the youth to reach their potential," added Mr. Rajendran.
Speaking about her
experience at the Career Development Centre, Reshma Chaudhary who completed Certificate Course in Food and
Beverages from Career Development
Centre said, "I was like the countless young girls in rural
About Career Development Centre:
Launched in January
2011, the Career Development Centre is an HCCB initiative in partnership with
the NIIT Foundation. The objective of the CDC is to tap the potential of rural
youth which are educated yet unemployed and underserved. This is done by
providing training courses designed to meet the entry level job requirements of
the organised sector. The centre is equipped with modern facilities such as
Desktops with Internet, Audio-Visual learning aids and Libraries. Manned by
NIIT certified trainers, the centre offers an enabling environment for
learning.
About HCCBPL
Hindustan Coca-Cola
Beverages Private Limited, is the largest bottling partner of The Coca-Cola
Company in India. It is part of the The Coca-Cola Company's Bottling Investment
Group (BiG) and responsible for the manufacture, package, sale and distribution
of beverages under the trademarks of The Coca-Cola Company.
HCCBPL TO SET UP A
FACILITY IN UTTARAKHAND
18 April 2013
Hindustan Coca-Cola
Beverages (HCCBPL), a bottling partner of Coca-Cola Company in
HCCBPL will invest
Rs.6000.000 Millions in setting up a facility that will make carbonated
beverages, juice and fruits-based drinks. The funds will be invested in two
phases for the proposed project which will come up over 60 acre in Vikasnagar
tehsil of Dehradun. The land for the plant will be provided by the Government
of Uttarakhand at the rate of Rs.9.500 Millions per acre. The proposed unit
will manufacture non-alcoholic carbonated beverages, juice, fruits based
drinks. HCCBPL on 17 April 2013 signed an agreement with State Infrastructure
and Industrial Development Corporation of Uttarakhand (SIDCUL) for the purpose.
HCCBPL is the largest bottling partner of the Coca-Cola Company in India and responsible for the manufacture, package, sale and distribution of beverages under the trademarks of Coca-Cola Company.
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.61.82 |
|
|
1 |
Rs.96.57 |
|
Euro |
1 |
Rs.82.45 |
INFORMATION DETAILS
|
Report Prepared by
: |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
60 |
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.