MIRA
INFORM REPORT
|
Report Date : |
31.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
CADBURY INDIA LIMITED (w.e.f. 01.12.1989) |
|
|
|
|
Formerly Known
As : |
HINDUSTAN COCOA PRODUCTS LIMITED |
|
|
|
|
Registered
Office : |
Cadbury House, 19, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2012 |
|
|
|
|
Date of
Incorporation : |
19.07.1948 |
|
|
|
|
Com. Reg. No.: |
11-006457 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 310.670 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15430MH1948PLC006457 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEC05932D MUMC11991A PNEC05384B PNEC05376A MUMC00212C |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACCO460H |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
Line of Business
: |
Manufacturing and Selling of Food Products |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (69) |
|
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 52000000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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|
Comments : |
Subject is a subsidiary of Cadbury Schweppes Overseas Limited, It is an old and well established company having good track record. Financially
the company performance seems to be strong. Liquidity position is good. The rating also takes into consideration the long experience of
promoter and the strong financial support from its group companies. 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 for 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.
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 DECLINED
Management Non-cooperative (91-22-40073100)
LOCATIONS
|
Registered Office / Hade Office : |
Cadbury House, 19, Bhulabhai Desai Road, Mumbai – 400026,
Maharashtra, India |
|
Tel. No.: |
91-22-24939558/40073100 |
|
Fax No.: |
91-22-24938698/23521698 |
|
E-Mail : |
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|
Website : |
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Regional Offices: |
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|
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|
Factories: |
Hadbast No 199, Village Sandholi Baddi,
Tehsil- Nalagarh, District Solan-173205, Himachal Pradesh, India
|
|
|
|
|
Cocoa
Operations: |
Sennakalpalayam, Dalavaipattinam P.O, Dharapuram - 638672, Tamilnadu, India |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Chugh
Yoginoer Pal |
|
Designation : |
Chairman |
|
Address : |
6, Bournville Apartments, 19, B, |
|
Date of Birth/Age : |
06.03.1937 |
|
Date of Appointment : |
01.04.1997 |
|
DIN No.: |
00106536 |
|
|
|
|
Name : |
Mr. Radhakrishnan B. Menon |
|
Designation : |
Whole Time Director |
|
Address : |
A/804/808 Wing No.2, Shabri Ashiana, |
|
Date of Birth/Age : |
23.02.1965 |
|
Date of Appointment : |
04.07.2002 |
|
DIN No.: |
01691357 |
|
|
|
|
Name : |
Mr. Anand Kripalu |
|
Designation : |
Managing Director |
|
Address : |
304, Cypress Marigold Housing Society, Klyani Nagar, Pune – 411014,
Maharashtra, India |
|
Date of Birth/Age : |
02.10.1958 |
|
Date of Appointment : |
07.11.2005 |
|
DIN No.: |
00118324 |
|
|
|
|
Name : |
Mr. Narayan Sundaraman |
|
Designation : |
Whole Time Director |
|
Address : |
402, |
|
Date of Birth/Age : |
29.03.1972 |
|
Date of Appointment : |
08.06.2010 |
|
DIN No.: |
03087167 |
|
|
|
|
Name : |
Mr. Atul Bhatia |
|
Designation : |
Whole Time Director |
|
Address : |
4, Bournville Apartments, 19, B, |
|
Date of Birth/Age : |
10.07.1951 |
|
Date of Appointment : |
15.05.2007 |
|
DIN No.: |
01499587 |
|
|
|
|
Name : |
Mr. Rajesh Ramanatha |
|
Designation : |
Whole Time Director |
|
Address : |
10, Shivashanti Bhuvan, 146, |
|
Date of Birth/Age : |
09.11.2007 |
|
Date of Appointment : |
01.05.2010 |
|
DIN No.: |
03077724 |
KEY EXECUTIVES
|
Name : |
Ms. Barkha Bordia |
|
Designation : |
Company Secretary |
|
Address : |
Flat 101, Juhu Sai Darshan, “B” Gulmohar Cross Road, No.5, JVPD Scheme
Vile Parle (West), Mumbai – 40005, Maharashtra, India |
|
Date of Birth/Age : |
05.09.1967 |
|
Date of Appointment : |
15.06.2010 |
|
PAN No. : |
ABJPB9179P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
SHAREHOLDING DETAILS FILE ATTACHED
As on 30.09.2010
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
97.62 |
|
Bodies corporate |
0.05 |
|
Other top fifty shareholders |
0.25 |
|
Others |
2.08 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Selling of Food Products |
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||||||||||
|
Products : |
|
PRODUCTION STATUS (31.12.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity @ |
|
Malted Foods |
Tonnes |
* |
30,100 |
|
|
Tonnes |
* |
900 |
|
Chocolates/Coated Wafer Biscuits |
Tonnes |
* |
# |
|
Hard Boiled Confectionary/Gums |
Tonnes |
* |
26,700 |
@ Installed
Capacity being a technical matter, is certified by the management and relied
upon by the auditors.
* Licensed Capacity
is not applicable as industrial licensing has been abolished in respect of
these products vide Notification No. SO-477(E) dated 25th July, 1991, issued by
the Department of Industrial Development, Ministry of Industry, Government of
India.
# These products are manufactured in an integrated plant and hence
Installed Capacity cannot be given.
|
Particulars |
Unit |
Actual
Production @ |
|
Malted Foods |
Nos |
107,405,199 |
|
|
Tens |
136,090 |
|
Chocolates/Coated Wafer Biscuits |
Outers Bags Nos. Jars |
90,940,264 29,590,902 62,360,566 9,035,796 |
|
Hard Boiled Confectionary/Gums |
Jars Bags |
4,883,170 6,030,664 |
|
Gums |
Outers Jars |
2,544,160 7,342,127 |
|
Biscuits |
Outers Pcs |
3,196,479 103,179,655 |
@ Production includes quantities produced by third parties under
contract with the Company.
* Figures do not include Cocoa Powder produced for captive consumption
in other products.
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
--- |
|
|
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|
Auditors : |
|
|
Name : |
Lovelock and Lewes Chartered Accountants |
|
Address : |
252, Veer Saverkar Marg, |
|
PAN No.: |
AABFL5878L |
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|
|
|
Ultimate Holding
Company : |
Kraft Foods Inc., USA (Upto 30th September, 2012), Mondelez International Inc., (from 1st October, 2012) |
|
|
|
|
Holding Company : |
Cadbury Schweppes Overseas Limited, UK |
|
|
|
|
Subsidiary Company
: |
Induri Farm Limited, India |
|
|
|
|
Associate : |
Cadbury Mauritius Limited, Mauritius |
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|
|
|
Fellow Subsidiaries
: |
· Cadbury Adams (Thailand) Limited, Thailand · Cadbury Confectionery Malaysia Sdn. Bhd., Malaysia · Cadbury Enterprises Pte. Limited, Singapore · Cadbury Foods Co. Limited, China · Cadbury Kenya Limited, Kenya · Cadbury South Africa (Pty) Limited, South Africa · Cadbury UK, UK · CS Business Services (India) Private Limited, India · Kent Gida Maddeleri Sanayii ve Ticaret Anonim Sirketi, Turkey · KJS India Private Limited, India · Kraft Food R & D Inc., USA · Kraft Foods (Philippines) Inc., Philippines · Kraft Foods (Thailand) Limited, Thailand · Kraft Foods Australia Pty. Limited, Australia · Kraft Foods Corporate Management (Shanghai) Company Limited, China · Kraft Foods Egypt SAE, Egypt (formerly Cadbury Egypt Group) · Kraft Foods Global Brands LLC, US · Kraft Foods Schweiz Holding GmbH, Switzerland · Kraft Malaysia Sdn. Bhd, Malaysia · MDLZ Osterreich Production, Austria · MDLZ Sverige Production Ab., Sweden · Mondelez Asia Pacific Pte. Limited, Singapore (formerly Kraft Food Asia Pacific Services Pte. Limited) · Mondelez Bahrain Wll, Bahrain(formerly Kraft Foods (Bahrain) Wll) · Mondelez Europe GmbH, Switzerland (formerly Kraft Food Europe GmbH) · Mondelez International Holdings LLC, USA (formerly Kraft Foods International Inc.) · Mondelez Pakistan Limited (formerly Cadbury Pakistan Limited) · Mondelez UK Limited, UK (formerly Kraft Foods UK Limited) · Mondelez UK R&D Limited, UK (formerly Foods UK R&D Limited) · Mondelez UK Holding and Service, UK (formerly Cadbury Holdings Limited) · PT Kraft Indonesia, Indonesia · Taloca GmbH, Switzerland |
CAPITAL STRUCTURE
As on 31.12.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
37500000 |
Equity Shares |
Rs.10/- each |
Rs.375.000 Millions |
|
|
|
|
|
Issued, Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
31069553 |
Equity Shares |
Rs.10/- each |
Rs. 310.695
Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
31067040 |
Equity Shares |
Rs.10/- each |
Rs. 310.670
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.12.2012 |
31.12.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
310.670 |
310.670 |
|
(b) Reserves & Surplus |
|
12873.165 |
9911.221 |
|
(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) |
|
13183.835 |
10221.891 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
55.002 |
63.313 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
460.077 |
520.014 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
515.079 |
583.327 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
8309.218 |
6391.927 |
|
(c) Other current liabilities |
|
1582.125 |
1312.098 |
|
(d) Short-term provisions |
|
664.224 |
132.178 |
|
Total Current Liabilities (4) |
|
10555.567 |
7836.203 |
|
|
|
|
|
|
TOTAL |
|
24254.481 |
18641.421 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
5953.523 |
5059.044 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
2967.706 |
1780.142 |
|
(iv) Intangible
assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.225 |
0.225 |
|
(c) Deferred tax assets (net) |
|
718.622 |
189.080 |
|
(d) Long-term Loan and Advances |
|
1850.968 |
716.016 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
11491.044 |
7744.507 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
390.118 |
|
(b) Inventories |
|
6766.273 |
4270.376 |
|
(c) Trade receivables |
|
527.206 |
586.064 |
|
(d) Cash and cash
equivalents |
|
4644.640 |
4893.667 |
|
(e) Short-term loans and
advances |
|
811.773 |
526.002 |
|
(f) Other current assets |
|
13.545 |
230.687 |
|
Total Current Assets |
|
12763.437 |
10896.914 |
|
|
|
|
|
|
TOTAL |
|
24254.481 |
18641.421 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
310.670 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
7012.859 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
7323.529 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
85.291 |
|
|
TOTAL BORROWING |
|
|
85.291 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
7408.820 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
5064.349 |
|
|
Capital work-in-progress |
|
|
801.151 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
579.007 |
|
|
DEFERREX TAX ASSETS |
|
|
139.492 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
3392.296
|
|
|
Sundry Debtors |
|
|
404.780
|
|
|
Cash & Bank Balances |
|
|
4105.620
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
362.084
|
|
Total
Current Assets |
|
|
8264.780 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
5975.987 |
|
|
Other Current Liabilities |
|
|
537.643
|
|
|
Provisions |
|
|
926.329
|
|
Total
Current Liabilities |
|
|
7439.959 |
|
|
Net Current Assets |
|
|
824.821
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
7408.820 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
40659.772 |
33646.410 |
25032.359 |
|
|
|
Other Income |
580.724 |
1233.815 |
302.686 |
|
|
|
TOTAL (A) |
41240.496 |
34880.225 |
25335.045 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
19509.072 |
|
|
|
|
|
Purchases of stock-in-trade |
136.931 |
238.578 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(518.960) |
(106.049) |
22196.476 |
|
|
|
Employee benefit expense |
2719.368 |
2391.934 |
|
|
|
|
Other expenses |
14881.533 |
11653.263 |
|
|
|
|
TOTAL (B) |
36727.944 |
30399.272 |
22196.476 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4512.552 |
4480.953 |
3138.569 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
60.081 |
43.577 |
39.033 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4452.471 |
4437.376 |
3099.536 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
792.369 |
674.060 |
607.588 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3660.102 |
3763.316 |
2491.948 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
625.458 |
792.735 |
404.150 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
3034.644 |
2970.581 |
2087.798 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
8840.346 |
6239.042 |
4432.243 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
303.464 |
297.058 |
208.780 |
|
|
|
Dividend |
62.139 |
62.139 |
62.139 |
|
|
|
Tax on Dividend |
10.561 |
10.080 |
10.080 |
|
|
BALANCE CARRIED
TO THE B/S |
11498.826 |
8840.346 |
6239.042 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
149.970 |
117.198 |
127.962 |
|
|
|
Other Earnings |
245.150 |
128.989 |
1.789 |
|
|
TOTAL EARNINGS |
395.120 |
246.187 |
129.751 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
5440.737 |
3627.026 |
1778.701 |
|
|
|
Stores & Spares |
37.884 |
92.504 |
18.773 |
|
|
|
Capital Goods |
733.721 |
228.288 |
198.427 |
|
|
TOTAL IMPORTS |
6212.342 |
3947.818 |
1995.901 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
97.68 |
95.62 |
67.20 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
PAT / Total Income |
(%) |
7.36
|
8.52 |
8.24
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.00
|
11.18 |
9.95
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.80
|
22.57 |
18.70
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.37 |
0.34
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.01 |
1.03
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21
|
1.39 |
1.11
|
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
Rs. In Millions
|
Particular |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
|
|
|
|
Current maturities of long-term debt |
8.311 |
9.028 |
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 |
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 |
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 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As
on 31.12.2012 |
As
on 31.12.2011 |
|
Long-term
Borrowings |
|
|
|
Deferred Payment
Liabilities |
|
|
|
from Government of Madhya Pradesh |
5.448 |
13.759 |
|
from Government of Maharashtra |
49.554 |
49.554 |
|
Total |
55.002 |
63.313 |
|
Terms of Repayment This liability is towards interest free sales tax deferral scheme of Government of Maharashtra and Government of Madhya Pradesh. Under the Scheme, the company is allowed to collect sales tax and defer the payment at a future date agreed with the sales tax departments of the respective states ranging between 1 to 5 years. |
||
CONTINGENT
LIABILITIES:
(Rs.
In Millions)
|
Particulars |
31.12.2012 |
31.12.2011 |
|
Income-tax matters - Matters decided against the company in respect of which the company has preferred an appeal |
336.557 |
135.083 |
|
Excise matters |
2047.389 |
1317.464 |
|
Sales Tax matters |
394.084 |
279.442 |
|
Entry tax matters |
2.638 |
2.683 |
|
Others |
24.289 |
25.738 |
Notes:
Future cash outflows in respect of the above are determinable only on receipt of judgements/ decisions pending with various authorities/forums and/or final outcome of the matters
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS :
- Goodwill
- Know-how
- Freehold Land
- Leasehold Land
- Buildings
- Plant and Machinery
- Electrical Installation
- Furniture and Fittings
- Office Equipment
- Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No 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.66.57 |
|
|
1 |
Rs.103.34 |
|
Euro |
1 |
Rs.88.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
69 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.