MIRA INFORM REPORT
|
Report Date : |
19.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
PARLE PRODUCTS PRIVATE LIMITED (w.e.f. 27.08.1966) |
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Formerly Known
As : |
PARLE PRODUCTS MANUFACTURING COMPANY PRIVATE LIMITED |
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Registered
Office : |
North Level Crossing, Vile Parle (East), Mumbai – 400 057, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of Incorporation
: |
09.12.1950 |
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Com. Reg. No.: |
11-008334 |
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Capital
Investment / Paid-up Capital : |
Rs.19.410
millions |
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CIN No.: [Company Identification
No.] |
U15400MH1950PTC008334 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
MUMP15062F / MUMP00186E |
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PAN No.: [Permanent Account No.] |
AAACP0486A |
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Legal Form : |
Private Limited Liability
Company |
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Line of Business
: |
(i) Processed foods-Manufacturing
of biscuits and allied products. (ii) Wind Mill |
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No. of Employees
: |
3000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (77) |
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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 |
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Maximum Credit Limit : |
USD 9400000 |
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Status : |
Good |
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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. Financial position of the company
appears to be sound. Fundamentals are strong and healthy. Trade relations are
reported as fair. Business is active. Payments are reported to be regular and
as per commitment. The company can be considered
normal for business dealings at usual trade terms and conditions. It can be regarded as a
promising business partner in medium to long run. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. M.B. Gawde |
|
Designation : |
Accounts Manager |
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Contact No.: |
91-22-66916911 |
|
Date : |
18.06.2013 |
LOCATIONS
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Registered Office/ Factory 1 : |
North Level Crossing, Vile Parle (East), Mumbai – 400 057, |
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Tel. No.: |
91-22-66916911-15 |
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Fax No.: |
91-22-66916927/ 66916926 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory 2 : |
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Tel. No.: |
91-22-66916911 to 14 |
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Fax No.: |
91-22-66916927 |
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Factory 3 : |
SP-2/4 RIICO Industrial Area, |
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Factory 4 : |
36, |
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Factory 5 : |
15.K.M.Stone, |
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Factory 6 : |
Survey No.120/2 and 118/2, Doddabidarakallu Village,
Yeshwantpura, Hubli, Bangalore North, 15th K.M., Tumkur, N.H.
No.4, Bangalore – 560 073, Karnataka, India |
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Tel. No.: |
91-80-28398825/ 28372807 |
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Fax No.: |
91-80-28398800/ 28398825 |
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Factory 7 : |
V.S. Khandekar Marg, Vile Parle (East), Mumbai – 400 057, |
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Tel. No.: |
91-22-66916911 |
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Fax No.: |
91-22-66916926 |
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E-Mail : |
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Regional Sales Offices (RSO) : |
Located at : · Mumbai · Delhi · Bangalore ·
Kolkata
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DIRECTORS
As on 28.09.2012
|
Name : |
Mr. Vijay Kantilal Chauhan |
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Designation : |
Managing Director |
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Address : |
Kanila, Swami Vivekanand Road, Vile Parle (West), Mumbai - 400 056,
Maharashtra, India |
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Date of Birth/Age : |
26.12.1936 |
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Qualification: |
B.S.-Worcester Polytechnic Institute, USA(Mech. Engg) |
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Experience : |
50 Years |
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Date of Appointment : |
31.05.1993 |
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DIN No. : |
00290771 |
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PAN No.: |
AABPC5047N |
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Name : |
Mr. Sharad Pitamber Chauhan |
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Designation : |
Managing Director |
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Address : |
Purnima, Swami Vivekanand Road, Vile Parle (West), Mumbai – 400 056,
Maharashtra, India |
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Date of Birth/Age : |
26.10.1944 |
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Qualification : |
B.S.- Massachussets Institute of Technology, USA (Industrial Management),
B.S. Massachussets Institute of Technology, USA (Electrical Engineering) |
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Experience : |
45 Years |
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Date of Appointment : |
31.05.1993 |
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DIN No. : |
00290803 |
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PAN No.: |
AABPC5044R |
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Name : |
Mr. Raj Kantilal Chauhan |
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Designation : |
Managing Director |
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Address : |
Kanila, Swami Vivekanand Road, Vile Parle (West), Mumbai – 400 056,
Maharashtra, India |
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Date of Birth/Age : |
22.09.1946 |
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Qualification : |
B.S. Worcester Polytechnic Institute, USA (Chemical Engineering) |
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Experience : |
42 Years |
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Date of Appointment : |
31.05.1993 |
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DIN No. : |
00290785 |
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PAN No.: |
AABPC5038P |
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Name : |
Mr. Ajay Vijay Chauhan |
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Designation : |
Whole Time Director |
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Address : |
Kanila, Swami Vivekanand Road, Vile Parle (West), Mumbai – 400 056,
Maharashtra, India |
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Date of Birth/Age : |
21.07.1965 |
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Qualification : |
B.S. (Mech. Engg.) USA, MBA(USA) |
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Experience : |
22 Years |
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Date of Appointment : |
12.07.1995 |
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DIN No. : |
00290837 |
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PAN No.: |
AABPC5041L |
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Name : |
Mr. Arup Sharad Chauhan |
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Designation : |
Whole Time Director |
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Address : |
Purnima, Swami Vivekanand Road, Vile Parle (West), Mumbai - 400 056,
Maharashtra, India |
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Date of Birth/Age : |
23.06.1975 |
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Qualification : |
B.Com, Mumbai |
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Experience : |
16 Years |
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Date of Appointment : |
25.09.2002 |
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DIN No. : |
00290834 |
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PAN No.: |
AABPC5046P |
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Name : |
Mr. Samar Sharad Chauhan |
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Designation : |
Whole Time Director |
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Address : |
Purnima, Swami Vivekanand Road, Vile Parle (West), Mumbai – 400 056,
Maharashtra, India |
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Date of Birth/Age : |
26.06.1979 |
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Qualification: |
B.Com, Mumbai, MBA |
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Experience : |
10 Years |
|
Date of Appointment : |
26.09.2007 |
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DIN No. : |
00290852 |
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PAN No.: |
AAVPC6822F |
KEY EXECUTIVES
|
Name : |
Mr. M.B. Gawde |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Sharad Pitamber Chauhan Asha Sharad Chauhan |
8659 |
4.46 |
|
Arup Sharad Chauhan |
7886 |
4.06 |
|
|
7885 |
4.06 |
|
Amol Sharad Chauhan |
6935 |
3.57 |
|
Asha Sharad Chauhan Sharad Pitamber Chauhan |
1830 |
0.94 |
|
Sharad Pitamber Chauhan Asha Sharad Chauhan |
2000 |
1.03 |
|
Pitamber Mohanlal Sharad Pitamber Chauhan Madhuri Sharad Sheth |
3332 |
1.72 |
|
Pitamber Mohanlal Sharad Pitamber Chauhan Madhuri Sharad Sheth |
3332 |
1.72 |
|
Sharad Pitamber Chauhan Madhuri Sharad Sheth Vijay Kantilal Chauhan |
1800 |
0.93 |
|
Sharad Pitamber Chauhan Madhuri Sharad Sheth Raj Kantilal Chauhan |
2000 |
1.03 |
|
Sharad Pitamber Chauhan Madhuri Sharad Sheth Raj Kantilal Chauhan |
1900 |
0.98 |
|
Sharad Pitamber Chauhan Madhuri Sharad Sheth Raj K. Chauhan |
2000 |
1.03 |
|
Sharad Pitamber Chauhan Asha Sharad Chauhan Vijay Kantilal Chauhan Madhuri Sharad Sheth |
4800 |
2.47 |
|
Serene Charitable |
7590 |
3.91 |
|
Vasant Narendra Dalal |
954 |
0.49 |
|
Sheela Ashwin Chiniwalla |
956 |
0.49 |
|
Narottam Mohanlal Sheela Ashwin Chiniwalla Vijay Kantilal Chauhan Sharad Pitamber Chauhan |
10226 |
5.27 |
|
Narottam Mohanlal Sheela Ashwin Chiniwalla Vijay Kantilal Chauhan Sharad Pitamber Chauhan |
10224 |
5.27 |
|
Pentagon Charitable |
39590 |
20.40 |
|
Nila Kantilal Vijay Kantilal Chauhan Raj Kantilal Chauhan |
3524 |
1.82 |
|
Vijay Kantilal Chauhan Shakuntala Vijay Chauhan |
6404 |
3.30 |
|
Raj Kantilal Chauhan Nina Raj Chauhan |
6946 |
3.58 |
|
Shakuntala Vijay Chauhan Vijay Kantilal Chauhan |
4098 |
2.11 |
|
Nina Raj Chauhan |
6584 |
3.39 |
|
Ulka R. Fischer |
4554 |
2.35 |
|
Ambika R. Chauhan |
4554 |
2.35 |
|
Ajay Vijay Chauhan |
3942 |
2.03 |
|
Sonal Yatin Kakodkar |
6260 |
3.23 |
|
Amita Ajay Chauhan |
354 |
0.18 |
|
Raj Kantilal Chauhan Nina Raj Chauhan |
1870 |
0.96 |
|
Kantilal Mohanlal Vijay Kantilal Chauhan Raj Kantilal Chauhan |
3000 |
1.55 |
|
Kantilal Mohanlal Vijay Kantilal Chauhan Raj Kantilal Chauhan |
3000 |
1.55 |
|
Kantilal Mohanlal Vijay Kantilal Chauhan Sharad Pitamber Chauhan |
3000 |
1.55 |
|
Shakuntala V. Chauhan Ajay Vijay Chauhan Arup S. Chauhan |
3460 |
1.78 |
|
Shakuntala V. Chauhan Ajay Vijay Chauhan Arup S. Chauhan |
400 |
0.21 |
|
P.K. Khansaheb Mariamma Rajan Iyer |
1 |
0.00 |
|
Mohanlal Dayal Charitable |
8250 |
4.25 |
|
Total
|
194100 |
100.00 |
As on 28.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
71.44 |
|
Other
top fifty shareholders |
|
28.56 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
(i) Processed
foods-Manufacturing of biscuits and allied products. (ii) Wind Mill |
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Products : |
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Exports : |
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Products : |
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Countries : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Note |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Biscuits |
1, 2 and 3 |
M.T. |
N.A. |
136642.080 |
370052.891 |
|
Confectionery |
1, 2 and 4 |
M.T. |
N.A. |
10409.000 |
3983.459 |
|
Atta |
1, 2 and 5 |
M.T. |
N.A. |
N.A. |
388.220 |
|
Power generated from windmill |
6 and 7 |
KWH |
7200 |
7200.000 |
8628300.000 |
|
Power generated from lignite |
|
KWH |
1500 |
- |
- |
|
Printed laminated wrappers |
|
M.T. |
N.A. |
3600.000 |
2978.039 |
|
C. Boxes |
|
Nos. |
N.A. |
7800000.000 |
6842125.000 |
Notes:
1) Installed capacity is in respect of the company’s own manufacturing units and does not includes capacity of contract manufacturers
2) Production includes production of company’s own manufacturing units as well as production for the company by its contract manufactures
3) Including 36707.521 M.T. manufactured by contract manufacturing units.
4) Including Nil M.T. manufactured by contract manufacturing units.
5) Including 388.220 M.T. manufactured by contract manufacturing units.
6) Excludes 18300.000 KW on account of transmission loss, wheeling charges
7) Licensed capacity is as approved by Maharashtra Energy Development Agency on 100% utilisation basis.
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
3000 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Chartered Accountants |
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Address : |
201/203, Konark Classic, |
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PAN No. : |
AACPB0118L |
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Wholly Owned Subsidiary : |
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Subsidiaries : |
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Partnership Firm in which control exists : |
Parle Kisan Seva Kendra, India |
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Enterprises which are owned, or have significant influence of or are partners
with Key management personnel and their relatives : |
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CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
372900 |
Equity Shares |
Rs.100/- each |
Rs.37.290 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
194100 |
Equity Shares |
Rs.100/- each |
Rs.19.410
millions |
|
|
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|
|
|
Movement of number of shares and share capital |
As at 31st
March, 2012 |
|
|
No. of Shares |
Amount (Rs. in
millions) |
|
|
At the beginning of the year |
194100 |
19.410 |
|
Issued during the year |
-- |
-- |
|
Bought back during the year |
-- |
-- |
|
Outstanding at
the end of the year |
194100 |
19.410 |
|
Number of shares held by each shareholder holding
more than 5 percent of the issued share capital: |
As at 31st
March, 2012 |
|
|
No. of Shares |
% Issued share
capital |
|
|
Pentagon Charitable Foundation |
39590 |
20.40 |
|
Jasoda Will Trust - 1 |
10226 |
5.27 |
|
Jasoda Will Trust - 2 |
10224 |
5.27 |
Information
regarding issue of shares in last five years
(i) The Company has not issued any shares without payment being received
in cash.
(ii) The Company has not issued any bonus shares.
(iii) The Company has not undertaken any buy-back of shares.
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 |
|
19.410 |
19.410 |
|
(b) Reserves & Surplus |
|
2330.581 |
2238.879 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
0.000 |
0.000 |
|
|
|
|
|
|
(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 |
|
1410.364 |
1071.407 |
|
(d) Long-term
provisions |
|
141.760 |
24.936 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short
term borrowings |
|
0.000 |
148.870 |
|
(b) Trade
payables |
|
1191.916 |
1142.744 |
|
(c) Other
current liabilities |
|
545.323 |
583.534 |
|
(d) Short-term
provisions |
|
138.753 |
39.519 |
|
TOTAL |
|
5778.107 |
5269.299 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
781.389 |
858.730 |
|
(ii)
Intangible Assets |
|
0.498 |
0.000 |
|
(iii)
Capital work-in-progress |
|
110.800 |
61.772 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
759.977 |
702.435 |
|
(c) Deferred tax assets (net) |
|
72.765 |
44.704 |
|
(d) Long-term Loan and Advances |
|
593.683 |
686.109 |
|
(e) Other
Non-current assets |
|
2.281 |
1.646 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
1200.780 |
744.966 |
|
(b)
Inventories |
|
1196.772 |
1371.568 |
|
(c) Trade
receivables |
|
435.570 |
317.377 |
|
(d) Cash
and cash equivalents |
|
213.100 |
132.838 |
|
(e)
Short-term loans and advances |
|
396.236 |
335.312 |
|
(f) Other
current assets |
|
14.256 |
11.842 |
|
TOTAL |
|
5778.107 |
5269.299 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
19.410 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
2231.781 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
2251.191 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
465.002 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
465.002 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2716.193 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
960.558 |
|
|
Capital work-in-progress |
|
|
46.835 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
1122.292 |
|
|
DEFERRED TAX ASSETS |
|
|
34.884 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
1329.243
|
|
|
Sundry Debtors |
|
|
230.731
|
|
|
Cash & Bank Balances |
|
|
223.200
|
|
|
Other Current Assets |
|
|
7.738
|
|
|
Loans & Advances |
|
|
1253.247
|
|
Total
Current Assets |
|
|
3044.159 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
1093.048 |
|
|
Other Current Liabilities |
|
|
1330.323
|
|
|
Provisions |
|
|
69.164
|
|
Total
Current Liabilities |
|
|
2492.535
|
|
|
Net Current Assets |
|
|
551.624
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2716.193 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
19865.214 |
18371.845 |
18760.017 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Office Expenses |
NA |
NA |
NA |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
NA |
324.860 |
334.440 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
83.050 |
254.341 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
353.609 |
241.810 |
80.099 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
9.159 |
26.243 |
210.714 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
112.772 |
201.282 |
201.282 |
|
|
|
Final Dividend |
112.578 |
0.000 |
0.000 |
|
|
|
Corporate
Dividend tax |
36.557 |
33.430 |
34.208 |
|
|
|
Transfer to General Reserve |
37.000 |
24.182 |
29.080 |
|
|
BALANCE CARRIED
TO THE B/S |
63.861 |
9.159 |
26.243 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods on F.O.B basis |
1310.452 |
973.810 |
624.254 |
|
|
|
Royalty |
9.714 |
12.848 |
8.393 |
|
|
|
Other income |
0.000 |
0.013 |
0.000 |
|
|
TOTAL EARNINGS |
1320.166 |
986.671 |
632.647 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
193.672 |
593.173 |
801.876 |
|
|
|
Stores & Spares |
3.253 |
0.253 |
1.042 |
|
|
|
Capital Goods |
0.794 |
3.087 |
5.662 |
|
|
|
Packing Materials |
0.000 |
0.000 |
13.192 |
|
|
TOTAL IMPORTS |
197.719 |
596.513 |
821.772 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1949.03 |
1287.48 |
899.41 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
22243.0000 |
|
|
|
|
|
Expected Sales (2013.2014): Rs.26000.000 millions
The above information has been parted by Mr. M.B. Gawde (Accounts
Manager).
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
1.77 |
1.78 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
7.28 |
8.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.14 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.07 |
0.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.84
|
1.52 |
1.22 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Sundry Creditors |
1191.916 |
1142.744 |
1093.048 |
|
|
|
|
|
|
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 |
Yes |
|
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 |
Yes |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
No |
Note:
Registered Office of
the company has been shifted from V.S. Khandekar Marg, Vile Parle (East),
Mumbai – 400 057,
OPERATIONS
The sales for the
year is Rs.19865.214 millions as compared to previous year’s sales of
Rs.18371.845 millions showing an increase of 8.13% in sales.
The Net Profit after Taxation and Depreciation is Rs.353.609 millions as
compared to Rs.241.810 millions for the previous year.
EXPORTS
Export sales
during the year ended on 31st March, 2012 amounted to Rs.1310.452
millions (previous year Rs.973.810 millions) on F.O.B. basis. Every effort is
being made to develop overseas market for Company’s products.
PROSPECTS
Operations so far
this year are satisfactory and they hope to improve their sales in the current
year.
SUBSIDIARY COMPANIES
Parle Biscuits Private Limited
The sales of the
Subsidiary Company for the year ended 31st March, 2012 aggregated to
Rs.51223.610 millions as against Rs.40184.684 millions during the previous year.
As may be observed from the annexed Balance Sheet of the Subsidiary Company,
the operation resulted in a Profit (Before Tax) of Rs.2873.969 millions as
against the profit of Rs.1567.139 millions during the preceding year.
Arctic Biscuits Private Limited, Bangladesh
Arctic Biscuits
Private Limited is a Company incorporated on 10.12.2003 in Bangladesh, which is
a 100% Subsidiary of Parle Biscuits Private Limited. Parle Biscuits Private
Limited is a Subsidiary of Parle Products Private Limited. In terms of Sec.
4(1)(c) of the Companies Act, 1956 Arctic Biscuits Private Limited, becomes a
Subsidiary of Parle Products Private Limited and it is necessary to comply with
the requirement of the Section. The financial year of the Company is from April
to March. The company has reported a loss of 34,047,386 Takas compared to last
year Loss of 73,685,976 Takas. The sales turnover is 244,427,695 Taka against
last year sales turnover of 216,711,442 Taka.
Parlite Foods Sarl, Cameroon
Parlite Foods Sarl
is a Company incorporated on 7.06.2005 in Cameroon, which is the Subsidiary of
Parle Biscuits Private Limited. Parle Biscuits Private Limited is a Subsidiary
of Parle Products Private Limited. In terms of Sec.4(1)(c) of the Companies
Act, 1956 Parlite Foods Sarl, becomes a Subsidiary of Parle Products Private
Limited and it is necessary to comply with the requirement of the Section. The
company has reported a profit of 557,293,044 CFA Francs for the period
1.04.2011 to 31.03.2012 compared to last year profit of 468,349,917 CFA Francs.
The sales turnover is 6,847,449,447 CFA Francs against last year sales turnover
of 4,839,497,784 CFA.
Pardee Foods Nigeria Limited
Pardee Foods
Nigeria Limited is a Company incorporated on 27.01.2005 in Nigeria, which is
the Subsidiary of Parle Biscuits Private Limited. Parle Biscuits Private
Limited is a 100% Subsidiary of Parle Products Private Limited. In terms of
Sec.4(1)(c) of the Companies Act, 1956 Pardee Foods Nigeria Limited, becomes a
Subsidiary of Parle Products Private Limited and it is necessary to comply with
the requirement of the Section. The production has commenced on April, 2007.
The company has reported a profit of 321,021,311 Naira for the period 1.04.2011
to 31.03.2012 compared to last year profit of 111,899,002 Naira. The sales
turnover is 6,849,488,267 Naira against last year sales turnover of
4,634,205,245 Naira.
Antarctic Biscuit Private Limited
Antarctic Biscuit
Private Limited is a Company incorporated on 21.11.2008 in Nepal, which is a
100% Subsidiary of Parle Biscuits Private Limited. Parle Biscuits Private
Limited is a 100% Subsidiary of Parle Products Private Limited. In terms of
Sec.4(1)(c) of the Companies Act, 1956 Antarctic Biscuit Private Limited,
becomes a Subsidiary of Parle Products Private Limited and it is necessary to
comply with the requirement of the Section. The financial year of the Company
is from 15 July to 14 July. The production has commenced on 28.05.2010. The
company has reported a profit of 14,780,086 NPR (after tax) for the year ended 1.04.2011
to 31.03.2012 compared to last year profit of 9,487,850 NPR. The sales turnover
is 219,898,897 NPR against last year sales turnover of 86,551,427 NPR.
Equator Foods Ghana Limited
Equator Foods
Ghana Limited is a Company incorporated on 9.05.2011 in Ghana, which is a
Subsidiary of Parle Biscuits Private Limited. Parle Biscuits Private Limited is
a 100% Subsidiary of Parle Products Private Limited. In terms of Sec. 4(1)(c)
of the Companies Act, 1956 Equator Foods Ghana Limited, becomes a Subsidiary of
Parle Products Private Limited and it is necessary to comply with the
requirement of the Section. The production has commenced on 198.03.2012. The
company has reported a loss of GHC 655408 (after tax) for the period 9.05.2011
to 31.03.2012.
1. AMALGAMATION ON FLASH LABORATORIES PRIVATE
LIMITED WITH PARLE PRODUCTS PRIVATE LIMITED.
A. Scheme of
Amalgamation of Flash Laboratories Private Limited, (a wholly owned subsidiary
of the company) with Parle Products Private Limited with effect from 1st
April 2008, was sanctioned by the Honorable Bombay High Court vide their order
dated 18th September 2009.
a) Name of
amalgamating company - Flash Laboratories Private Limited.
b) Nature of
business of the amalgamating company - manufacture of dental cream.
c) Name of the
transferee company - Parle Products Private Limited
d) Nature of
business of the transferee company - manufacture of biscuit, confectioneries,
chocolates peppermints etc.
e) Appointed date
of amalgamation - 1st April 2008.
f) Effective date
of amalgamation for accounting purposes - 28th October 2009.
g) Method of
accounting used to reflect the amalgamation- The Pooling of Interests method.
h) Particulars of
the scheme sanctioned under The Companies' Act, 1956.
1. With effect
from the appointed date, the whole of the business and the undertaking of Flash
Laboratories Private Limited and all it's assets and liabilities are
transferred and vested in Parle Products Private Limited.
2. Intercorporate
loans, deposits or balances between Flash Laboratories Private Limited and
Parle Product Private Limited and the obligations in respect thereof come to an
end on and from the Appointed date.
3. As the entire
issued, subscribed and paid-up equity capital of Flash Laboratories Private
Limited is held by Parle Products Private and it's nominees, upon the coming
into effect of the scheme, the said share capital of Flash Laboratories Private
Limited stands automatically cancelled against the investment held by Parle
Products Private Limited in Flash Laboratories Private Limited. Accordingly,
there is no issue of shares of Parle Products Private Limited.
i) Particulars of
assets and liabilities of Flash Laboratories Private Limited acquired by Parle
Products Private Limited pursuant to the aforesaid Scheme of Amalgamation are
as follows:-
|
ASSETS |
Amount
(Rs.
in millions) |
|
Leasehold land |
3.645 |
|
Building |
27.404 |
|
Bank balances |
2.210 |
|
Cash in hand |
0.000 |
|
Advances
recoverable in cash or kind |
1.048 |
|
Advance payments
of taxes |
1.998 |
|
|
36.305 |
|
|
|
|
LIABILITIES |
|
|
Loan |
8.536 |
|
Loan from Parle
Products Private Limited (nullified w.e.f. Appointed date) |
30.997 |
|
Investment in
shares of Flash Laboratories Private Limited (nullified w.e.f.
Appointed date) |
0.100 |
|
Sundry creditors |
0.048 |
|
Provision for
Income Tax |
1.037 |
|
Capital
redemption reserve |
1.700 |
|
|
42.418 |
|
|
|
|
Difference |
(6.113) |
|
This difference
was treated as follows:- |
|
|
Debited to Capital
Redemption Reserve transferred from Flash Laboratories Private Limited |
1.700 |
|
Debited to
Capital Redemption Reserve of Parle Products Private Limited |
2.241 |
|
Debited to
General Reserve of Parle Products Private Limited |
2.172 |
|
|
6.113 |
j) Income and
expenditure of Flash Laboratories Private Limited for the period 1st
April 2008 to 31st March 2009 was Rs.1.044 millions and Rs.4.646
millions respectively resulting in a net loss of Rs.3.602 millions.
This amount has been
debited to profit and Loss Account for the year ended 31st March
2010 under the head 'Prior period adjustment'.
CONTINGENT
LIABILITIES
|
Particulars |
31.03.2012 (Rs.
in Millions) |
|
a) Income tax These represent demands
raised by income tax authorities in respect of excess consumption disallowed
on the basis of standard yield, sales promotion expenses and other matters
for which disputes are pending before appellate authorities. The Company is
confident that the cases will be successfully contested. |
467.490 |
|
b) Sales tax (1.) Demands
raised by sales tax authorities in respect of disallowance of freight and /
or set off claim on form 15 purchases, Entry Tax and interest thereon in respect
of which disputes are pending before appellate authorities. The company is
confident that the cases will be successfully contested. |
1876.192 |
|
(2.) Demands
raised by the Gujarat Sales Tax authorities in respect of sales tax alleged
to have been short paid on sales of biscuits, wrapper and scrap. They are
informed that the company is in the process of filing an appeal in the matter
before the Honourable Supreme Court. |
0.000 |
|
(3.) Demands raised
by the Commercial Taxes Department, Bangalore for not charging Vat on
freight, non submission of F forms, etc. |
61.311 |
|
c) Excise duty /
Service tax (1.) These
represent demands raised by excise authorities in respect of inadmissibility
of input credits on packing material, valuation and Service Tax Cenvat Credit
issues in respect of which disputes are pending before appellate authorities.
The Company is confident that the cases will be successfully contested. |
566.929 |
|
(2.) Show cause
notices received from the office of the Commissioner and Additional
Commissioner of Excise, Bangalore for non reversal of Cenvat equal to 10% of
the value of exempted goods cleared for alleged non-maintenance of separate
inventory for dutiable and exempted goods. The matter is pending before the
Honourable Customs, Excise and Service Tax Appellate Tribunal. |
11.464 |
|
d) International
Swaps and Derivative transactions (1.) With the object of hedging its risks associated with foreign currency
fluctuations, the company has entered into contracts for sale of foreign
currency over varying periods upto 31st March 2013. The aggregate
amount of such contracts outstanding as at 31st March 2012 is USD
60,00,000 (Pervious year USD 1,32,50,000). Future liability / loss on account
of inability to meet the commitments due to possible inadequacy of export
orders / realizations, change in exchange rates etc. cannot be ascertained. |
|
Bankers Charges
Report as per Registry
|
Corporate identity
number of the company |
U15400MH1950PTC008334 |
|
Name of the
company |
PARLE PRODUCTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
North Level Crossing, Vile Parle (East), Mumbai – 400 057, Maharashtra E-Mail: iyermr@parle.biz |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10133421 |
|
Type of charge |
Book Debts Movable Property
(not being pledge) Others (Current
Assets) |
|
Particular of
charge holder |
CIN No.: L65110MH1985PLC038137 Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227, D, Nariman Point, Mumbai – 400 021, Maharashtra, India E-Mail: vijendra.sapre@kotak.com |
|
Nature of
description of the instrument creating or modifying the charge |
Supplementary
Deed of Hypothecation. |
|
Date of
instrument Creating the charge |
24.12.2012 |
|
Amount secured by
the charge |
Rs.1500.000
millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest: As per bank
sanction letter. Terms of
Repayment: As per bank
sanction letter. Margin: As per bank
sanction letter. Extent and
Operation of the charge: First and
Exclusive charge by way of hypothecation on Current Assets of the Borrower in
favour of Kotak Mahindra Bank, to secure the repayment of financial
facilities granted by the Bank to the Borrower. |
|
Short particulars
of the property charged |
The whole of the
Borrower's Current Assets both present and future as described in Schedule -
III to the Supplemental Deed of Hypothecation. |
|
Date of latest modification
prior to the present modification |
18.05.2011 |
|
Particulars of
the present modification |
The Bank had
granted facilities of Rs.250.000 millions which was secured by Hypothecation
of Current Assets (Stocks and Book debts) of the Borrower on 07.11.2008. Said
charge was modified on 06.02.2009, 08.09.2009, 11.01.2010, 25.03.2010 and
18.05.2011. The Bank has now revised the said facilities as stated in
Schedule II to the Supplemental Deed of Hypothecation and said charge is
modified and extended to the revised total facilities of Rs.1500.000
millions. |
FIXED ASSETS:
Intangible Assets
v
Goodwill, Trademark and Patent Rights
Tangible Assets
v
Land
v
Buildings
v
Plant and Machinery
v
Furniture, Fixtures and Office Equipment
v
Vehicles
Owned Assets Leased out
v
Buildings
v
Plant and Machinery
Assets on lease
v
Land
WEBSITE DETAILS:
NEWS/ PRESS RELEASES:
PARLE PRODUCTS ENTERING INTO NAMKEEN SECTOR
Mumbai, November 5:
Parle Products is
all set to enter the namkeen category across India. The product that was
launched mid last year, was test marketed in selected cities of Uttar Pradesh
and Madhya Pradesh.
It is now
available across kirana stores
and modern retail formats.
Parle Namkeen
will be available in three categories – Mixture, Bhujia and Dal. Under the
Mixture category, Parle Namkeen will offer Khatta Meetha and Hot ‘n’ Spicy
Mixture. The Bhujia category will also be available in two varieties, Bhujia
Sev and Aloo Bhujia. The third category is Moong Dal, crispy, tasty and protein
rich tea-time snack.
Commenting on the
pan-India launch, B Krishna Rao, Group Product Manager, Parle Products said,
“After test marketing the product mid last year, we have received tremendous
response from both consumers and the trade. We would like to maximise this
opportunity by reaching out to more consumers across markets in India.”
He further added,
“To induce trials, we will be offering our customers 25 per cent extra on each packet.
Looking at the positive demand in the market, we are aiming to capture 20 per
cent market share by the end of this financial year.”
The namkeen
category has seen tremendous growth in the last couple of years and has been
growing at an enormous 25 per cent year on year. Parle Namkeen will be
available across popular price points of Rs.5, Rs.10 and Rs.20 per pack.
PARLE PRODUCTS TO TAKE LEGAL ACTION AGAINST FDA
October 16, 2012
NEW DELHI: The
country's largest biscuits and confectionery products maker Parle Products on
Tuesday said it will take legal action against the Maharashtra Food and Drug
Administration (FDA) by dragging the latter to the Bombay High Court, reacting
to the FDA's allegation that its Kaccha Mango Bite brand contains lactic acid
beyond permissible limits.
"We have
challenged the action taken by the FDA and the matter is sub-judice and pending
before the Bombay High Court. It is our contention that use of lactic acid in
Kachha Mango Bite is absolutely safe for human consumption," a statement
issued by Parle Products said.
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.58.45 |
|
|
1 |
Rs.91.60 |
|
Euro |
1 |
Rs.77.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
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 |
9 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
77 |
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.