MIRA INFORM REPORT
|
Report Date : |
07.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
ABINBEV INDIA PRIVATE LIMITED (w.e.f.02.12.2011) |
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|
|
|
Formerly Known
As : |
INBEV INDIA INTERNATIONAL PRIVATE LIMITED (w.e.f.12.07.2007) VARUNBEV INTERNATIONAL PRIVATE LIMITED |
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|
Registered
Office : |
F-2/7, Okhla Industrial Area, Phase I, New Delhi - 110020 |
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Country : |
India |
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Financials (as
on) : |
31.12.2011 |
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Date of
Incorporation : |
24.02.2006 |
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Com. Reg. No.: |
55-146757 |
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Capital
Investment / Paid-up Capital : |
Rs. 2137.141
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909DL2006PTC146757 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELV06538A |
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PAN No.: [Permanent Account No.] |
AACCV2013K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Sale and Distribution of alcoholic beverages, mainly Beer,
for domestic consumption. |
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|
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 2220000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record.
There appears huge accumulated losses recorded by the company. However, the capital base of the company seems to strong. Trade
relations are reported to be fair. Business is active. Payments are reported
to be slow. The company can be considered for business dealings with great
caution. |
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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 : |
F-2/7, Okhla Industrial Area, Phase I, New Delhi – 110020, India |
|
Tel. No.: |
91-11-51706720 |
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Fax No.: |
91-11-26813665 |
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E-Mail : |
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Website : |
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Head Office : |
Plot No. 31, Institutional Area, Sector-44, Gurgaon – 122002, Haryana,
India |
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Tel. No.: |
91-124-4643100/ 200/ 300 |
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Fax No.: |
91-124-4643103/ 104 |
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E-Mail : |
DIRECTORS
As on 01.06.2012
|
Name : |
Mr. Raj Pal Gandhi |
|
Designation : |
Director |
|
Address : |
P-2/ 50, DLF Phase II, Gurgaon, Haryana, India |
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Date of Birth/Age : |
07.06.1957 |
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Date of Appointment : |
24.02.2006 |
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DIN No.: |
00003649 |
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|
Name : |
Mr. Ravi Kant Jaipuria |
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Designation : |
Director |
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Address : |
7A, Aurangzeb Road, New Delhi – 110011, India |
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Date of Birth/Age : |
28.11.1954 |
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Date of Appointment : |
24.02.2006 |
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DIN No.: |
00003668 |
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Name : |
Christopher White |
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Designation : |
Director |
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Address : |
12, Cuscaden Walk, # 19, 02 Four Seasons PK, Singapore 249694 |
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Date of Birth/Age : |
01.11.1961 |
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Date of Appointment : |
15.06.2009 |
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DIN No.: |
01564507 |
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Name : |
Ian Roderick Stephens |
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Designation : |
Director |
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Address : |
8-Salt Pikes, Brixworth, Northampton NN6, 9UJ, Northampton, United
Kingdom 60111 |
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Date of Birth/Age : |
27.05.1960 |
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Date of Appointment : |
20.06.2007 |
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DIN No.: |
01780808 |
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|
Name : |
Mr. Kapil Agarwal |
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Designation : |
Director and Chief Executive Officer |
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Address : |
KK – 85, Kavi Naga, Ghaziabad – 201002, Uttar Pradesh, India |
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Date of Birth/Age : |
08.06.1964 |
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Qualification : |
MBA |
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Experience : |
22 Years |
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Date of Appointment : |
08.06.2010 |
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PAN No.: |
ACDPA3699L |
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DIN No.: |
02079161 |
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|
|
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Name : |
Miguel Nuno Da Mata Patricio |
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Designation : |
Director |
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Address : |
No. 175, The Eneraid Forest, The Emeraid Lane 2888 HU NA Road,
Lalitapar Laxminagar, Shanghi, China 2888 |
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Date of Birth/Age : |
11.05.1966 |
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Date of Appointment : |
08.06.2010 |
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DIN No.: |
02698940 |
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Name : |
Paul Joris Maria Boeckx |
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Designation : |
Director |
|
Address : |
K 701, Central Park 1, Sector 42, Gurgaon – 122002, Haryana, India |
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Date of Birth/Age : |
02.10.1957 |
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Date of Appointment : |
01.06.2012 |
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DIN No.: |
05158307 |
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|
|
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Name : |
Aidar Pedro Ferraz |
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Designation : |
Director |
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Address : |
H No. 182, Emerald Forest 2888 Uunana Road, Pudong, Shanghai, China 21 |
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Date of Birth/Age : |
28.02.1977 |
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Date of Appointment : |
01.06.2012 |
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DIN No.: |
05334627 |
KEY EXECUTIVES
|
Name : |
Mrs. Soniya Khandelwal |
|
Designation : |
Secretary |
|
Address : |
C 5018 Devendravihar Sector 44, Gurgaon-122002, Haryana, India |
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Date of Birth/Age : |
03.01.1982 |
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Date of Appointment : |
20.06.2011 |
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PAN No.: |
AQDPK6052B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 01.06.2012
|
Names of Shareholders |
|
No. of Shares |
|
R.K. Jaipuria and Sons (HUF) |
|
5000 |
|
Jaipuria Dhara |
|
5000 |
|
Interbrew International B.V., Netherland |
|
121919689 |
|
R J Corp Limited, India |
|
3742736 |
|
Devyani Enterprises Private Limited, India |
|
123143268 |
|
Total |
|
248815693 |
As on 25.09.2012
|
Names of Allottees |
|
No. of Shares |
|
Interbrew International B.V., Netherland |
|
4822652 |
|
Devyani Enterprises Private Limited, India |
|
5019495 |
|
Total |
|
9842147 |
As on 01.06.2012
Equity Share Break up (Percentage of Total Equity)
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
49.00 |
|
Bodies
corporate |
|
50.98 |
|
Directors
or relatives of directors |
|
0.01 |
|
Other
top fifty shareholders |
|
0.01 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Sale and Distribution of alcoholic beverages, mainly Beer,
for domestic consumption. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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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 : |
BSR and Company Chartered Accountants |
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Address : |
Building No. 10, 8th Floor, Tower-B, DLF Cyber City,
Phase II, Gurgaon-122002, Haryana, India |
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Tel. No.: |
91-124-2549181 |
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Fax No.: |
91-124-2549101 |
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Income-tax
PAN of auditor or auditor's firm : |
AAIFB0630K |
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Joint Ventures : |
CIN No.: U62200DL1980PLC010262
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Subsidiaries : |
CIN No.: U15500DL2008PTC183357
CIN No.: U15549DL2009PTC187422 |
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Entity on which the
Company has significant Influence : |
H Dasappa and Sons Private Limited, India CIN No.: U92419KA1972PTC002205 |
CAPITAL STRUCTURE
After 01.06.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
350000000 |
Equity Shares |
Rs. 10/- each |
Rs. 3500.000 Millions |
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|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
258657840 |
Equity Shares |
Rs.10/- each |
Rs. 2586.578
Millions |
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As on 31.12.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
350000000 |
Equity Shares |
Rs. 10/- each |
Rs. 3500.000 Millions |
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
213714062 |
Equity Shares |
Rs.10/- each |
Rs. 2137.141
Millions |
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|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2137.141 |
1515.655 |
658.312 |
|
|
2] Share Application Money |
201.998 |
0.000 |
144.660 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(1784.102) |
(1112.424) |
(715.326) |
|
|
NETWORTH |
555.037 |
403.231 |
87.646 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
175.624 |
88.399 |
147.252 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
175.624 |
88.399 |
147.252 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
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TOTAL |
730.661 |
491.630 |
234.898 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
407.353 |
399.006 |
217.306 |
|
|
Capital work-in-progress |
4.665 |
0.219 |
127.916 |
|
|
|
|
|
|
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INVESTMENT |
0.200 |
0.200 |
0.200 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
7.081
|
0.732
|
3.610 |
|
|
Sundry Debtors |
5.065
|
5.120
|
11.628 |
|
|
Cash & Bank Balances |
2.284
|
55.486
|
16.095 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
471.751
|
274.953
|
165.775 |
|
Total
Current Assets |
486.181
|
336.291
|
197.108 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
128.782
|
219.178
|
268.254 |
|
|
Other Current Liabilities |
22.357
|
14.653
|
19.907 |
|
|
Provisions |
16.599
|
10.255
|
19.471 |
|
Total
Current Liabilities |
167.738
|
244.086
|
307.632 |
|
|
Net Current Assets |
318.443
|
92.205
|
(110.524) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
730.661 |
491.630 |
234.898 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
|
SALES |
|
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|
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Income |
|
|
|
|
|
|
Other Income |
|
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|
|
|
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TOTAL |
N.A. |
N.A. |
N.A. |
|
|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
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|
Office Expenses |
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|
|
Administrative Expenses |
|
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Advertising Expenses |
|
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|
|
|
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TOTAL |
N.A. |
N.A. |
N.A. |
|
|
|
|
|
|
|
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|
PROFIT/ (LOSS)
BEFORE TAX |
(671.678) |
(397.098) |
(487.324) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.432 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(671.678) |
(397.098) |
(487.756) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(1112.424) |
(715.326) |
(227.570) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(1784.102) |
(1112.424) |
(715.326) |
|
|
|
|
|
|
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|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
2.646 |
1.371 |
20.087 |
|
|
|
Stores, Spares, Raw Material and Services |
59.383 |
15.040 |
|
|
|
TOTAL IMPORTS |
62.029 |
16.411 |
20.087 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
(4.02) |
(4.02) |
(9.89) |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(75.17)
|
(54.01) |
(117.59) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.21)
|
(0.98) |
(5.56) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.32
|
0.22 |
1.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.90
|
1.38 |
0.64 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
No |
|
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 |
REVIEW OF OPERATIONS
During the year, the Company increased brewery operations in the States of Tamil Nadu, Kerala and Orissa. The Company reported a net loss of Rs. 671.670 million.
CHANGE OF NAME
During the year, the name of the Company was changed from Inbev India International Private Limited to ABInbev India Private Limited vide fresh Certificate of Incorporation issued by Ministry of Corporate Affairs, New Delhi dated 2nd December 2011.
BACKGROUND:
Subject (formerly known as Inbev India International Private limited) was incorporated on 24 February 2006 as a private limited company. The Company is a joint venture between RJCorp Limited and Inter Brew International B.V.
The Company’s key business is sale and distribution of alcoholic beverages, mainly Beer, for domestic consumption. For this purpose, the Company has entered into arrangements with third party Beer manufacturers.
FIXED ASSETS
- Plant machinery
- Office equipments
- Other equipments
- Furniture fixtures
- 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 exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.95 |
|
|
1 |
Rs.84.03 |
|
Euro |
1 |
Rs.70.72 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
|
27 |
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.