MIRA INFORM REPORT

Report Date :

13.05.2013

IDENTIFICATION DETAILS

Name :	CADBURY INDIA LIMITED (w.e.f. 01.12.1989)
Formerly Known As :	HINDUSTAN COCOA PRODUCTS LIMITED
Registered Office :	Cadbury House, 19, Bhulabhai Desai Road, Mumbai – 400 026, Maharashtra
Country :	India
Financials (as on) :	31.12.2011
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
PAN No.: [Permanent Account No.]	AAACCO460H
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturing and Selling of Food Products
No. of Employees :	Not Available

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 40887000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a subsidiary of Cadbury Schweppes Overseas Limited, UK. It is an old and well established company having good track record. Financially the companys 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.

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
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term Rating: AAA
Rating Explanation	Having highest degree of safety regarding timely servicing of financial obligation it carry lowest credit risk.
Date	February 2013

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office :	Cadbury House, 19, Bhulabhai Desai Road, Mumbai – 400026, Maharashtra, India
Tel. No.:	91-22-24939558/40073100
Fax No.:	91-22-24938698/23521698
E-Mail :	info@cadburyindia.com bournvita@vsnl.com monaz.noble@ap.csplc.com
Website :	http://www.cadburyindia.com
Regional Offices:	Mumbai Cadbury India limited EL Tara, 5^th Floor, Opposite Odyssey II, Near Delphi, “C” Wing, Hiranandani Powai, Mumbai – 400076, Maharashtra, India Delhi 303 – 305 3rd Floor, Vipul Agora M.G. Road, Gurgaon - 122002, Haryana, India Chennai 146- Second Floor, Royapeth High Road, Mylapore, Chennai – 600004, Tamilnadu, India Kolkata 9-A, Esplanade Row, Kolkata - 700069, West Bengal, India
Factories:	Thane 1 Pokhran Road, Eastern Express Highway, Thane-400606, Maharashtra, India Himachal Pradesh Hadbast No 199, Village Sandholi Baddi, Tehsil- Nalagarh, District Solan-173205, Himachal Pradesh, India Pune Induri Factory, Talegaon Dabhade, Pune-410507, Maharashtra, India Bangalore Jodi Hanumanapalya, Mahadevapura Post, Mangalore Road, Nelamangala, Bangalore-562123, Karnataka, India Gwalior Plot No 25, Malanpur, Industrial Area, Village Gurikha, Tehsil Gohad, Gwalior-477116, Madhya Pradesh, India
Cocoa Operations:	Dharapuram Sennakalpalayam, Dalavaipattinam P.O, Dharapuram - 638672, Tamilnadu, India

DIRECTORS

As on 29.09.2011

Name :

Mr. Chugh Yoginoer Pal

Designation :

Chairman

Address :

6, Bournville Apartments, 19, B, Desai Road, Mumbai – 400026, Maharashtra, India

Date of Birth/Age :

06.03.1937

Date of Appointment :

01.04.1997

DIN No.:

00106536

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U92410MH1946PLC004878	INDURI FARM LTD	Director	28-05-79	28-05-79	-	Active	NO
2	U17118PN1995PTC018285	RENFRO INDIA PRIVATE LIMITED	Director	06-10-95	06-10-95	-	Active	NO
3	U17303MH1995PTC093343	RENFRO INDIA PRIVATE LIMITED	Director	06-10-95	06-10-95	-	Dormant	NO
4	U15430MH1948PLC006457	CADBURY INDIA LIMITED	Director	01-04-97	01-04-97	-	Active	NO
5	U74999MH2000NPL127870	FRANCHISING ASSOCIATION OF INDIA	Director	21-07-00	21-07-00	-	Active	NO
6	L29112DL1963PLC004084	SHRIRAM PISTONS AND RINGS LIMITED	Director	16-05-03	16-05-03	-	Active	NO
7	L72900MH2000PLC123841	APTECH LIMITED	Director	05-01-04	05-01-04	-	Active	NO
8	L36999KA1999PLC025195	UNITED BREWERIES LIMITED	Director	29-04-05	29-04-05	-	Active	NO
9	U92100MH1989PLC051768	MAYA ENTERTAINMENT LIMITED	Director	19-08-11	30-05-11	-	Active	NO

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

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U15430MH1948PLC006457	CADBURY INDIA LIMITED	Managing director	07-11-11	07-11-05	-	Active	NO
2	U92410MH1946PLC004878	INDURI FARM LTD	Director	23-01-06	23-01-06	-	Active	NO
3	L15140MH1988PLC049208	MARICO LIMITED	Director	25-07-07	26-04-07	-	Active	NO
4	U74999MH1924NPL001128	BOMBAY CHAMBER OF COMMERCE AND INDUSTRY	Director	01-06-07	01-06-07	25-06-09	Active	NO

Name :

Mr.Radhakrishnan B. Menon

Designation :

Whole Time Director

Address :

A/804/808 Wing No.2, Shabri Ashiana, Beonar Farm Road, Deonar, Mumbai – 400088, Maharashtra, India

Date of Birth/Age :

23.02.1965

Date of Appointment :

04.07.2002

DIN No.:

01691357

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U15430MH1948PLC006457	CADBURY INDIA LIMITED	Whole-time director	04-07-07	04-07-02	-	Active	NO

Name :

Mr. Rajesh Ramanatha

Designation :

Whole Time Director

Address :

10, Shivashanti Bhuvan, 146, Manarshi Karve Road, Mumbai – 400020, Maharashtra, India

Date of Birth/Age :

09.11.2007

Date of Appointment :

01.05.2010

DIN No.:

03077724

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U15430MH1948PLC006457	CADBURY INDIA LIMITED	Whole-time director	01-05-10	01-05-10	-	Active	NO

Name :

Mr. Narayan Sundaraman

Designation :

Whole Time Director

Address :

402, Sunrise, 941c, Sairoad, Bandra, Mumbai – 400050, Maharashtra, India

Date of Birth/Age :

29.03.1972

Date of Appointment :

08.06.2010

DIN No.:

03087167

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U15430MH1948PLC006457	CADBURY INDIA LIMITED	Whole-time director	08-06-10	08-06-10	-	Active	NO

Name :

Mr. Harsh Charandas Mariwala

Designation :

Director

Address :

A1, Ameyanand CHS, Off. Kashinathdhuru Road, Prabhadevi, Mumbai -400028, Maharashtra, India

Date of Birth/Age :

14.05.1951

Date of Appointment :

06.08.1998

DIN No.:

00210342

Other Directorship :

.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U15100MH1948PTC006179	THE BOMBAY OIL PRIVATE LIMITED	Director	01-01-75	01-01-75	17-05-10	Active	NO
2	L15140MH1988PLC049208	MARICO LIMITED	Managing director	01-04-11	13-10-88	-	Active	NO
3	U15430MH1948PLC006457	CADBURY INDIA LIMITED	Director	06-08-98	06-08-98	-	Active	NO
4	U99999DL1956NPL002635	FEDERATION OF INDIAN CHAMBER OF COMMERCE AND INDUSTRY.	Director	19-11-99	19-11-99	-	Active	NO
5	L32300MH1981PLC023637	MIRC ELECTRONICS LIMITED	Director	16-05-01	16-05-01	20-02-09	Active	NO
6	U85190MH2003PLC139763	KAYA LIMITED	Managing director	01-11-11	27-03-03	-	Active	NO
7	U17120MH1965PLC015806	HINDUSTAN POLYAMIDES AND FIBRES LIMITED	Director	21-07-03	21-07-03	-	Active	NO
8	U29299MH1995PTC088253	SCIENTIFIC PRECISION PRIVATE LIMITED	Director	01-04-04	01-04-04	-	Active	NO
9	L31909AP1988PLC008652	MIC ELECTRONICS LIMITED	Director	27-12-06	22-08-06	15-10-09	Active	NO
10	U93090MH2009NPL193455	MARICO INNOVATION FOUNDATION	Nominee director	15-03-13	19-06-09	-	Active	NO
11	U91100DL2009NPL197064	INVEST INDIA	Director	30-11-12	14-03-12	-	Active	NO
12	U24233MH2012PLC229972	Marico Consumer Care Limited	Director	20-04-12	20-04-12	-	Active	NO
13	U24240MH2011PTC239427	Halite Personal Care India Private Limited	Director	26-09-12	29-05-12	-	Under liquidation	NO
14	U93030MH2013PLC239859	Marico Kaya Enterprises Limited	Director	19-01-13	19-01-13	-	Active	NO

Name :

Mr. Atul Bhatia

Designation :

Whole Time Director

Address :

4, Bournville Apartments, 19, B, Desai Road, Mumbai – 400026, Maharashtra, India

Date of Birth/Age :

10.07.1951

Date of Appointment :

15.05.2007

DIN No.:

01499587

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U15430MH1948PLC006457	CADBURY INDIA LIMITED	Whole-time director	15-05-12	15-05-07	-	Active	NO

Name :

Mr. Jaiboy J. Phillios

Designation :

Whole Time Director

Address :

Sudha Kunj, 3 Tardeo Road, Mumbai – 400034, Maharashtra, India

Date of Birth/Age :

21.05.1956

Date of Appointment :

01.07.2002

DIN No.:

01417171

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U15430MH1948PLC006457	CADBURY INDIA LIMITED	Whole-time director	01-07-07	01-07-02	30-09-11	Active	NO
2	U92410MH1946PLC004878	INDURI FARM LTD	Director	11-07-02	11-07-02	15-12-11	Active	NO
3	U83000MH1926PLC001231	THE ANGLO SCOTTISH EDUCATION SOCIETY	Director	12-09-08	12-09-08	-	Active	NO
4	L24231PB1958PLC002257	GLAXOSMITHKLINE CONSUMER HEALTHCARE LIMITED	Whole-time director	09-04-13	06-02-12	-	Active	NO

Name :

Mr. Chandramouli Venkatesan

Designation :

Whole Time Director

Address :

7, Bournville Apartments, 19, B, Desai Road, Mumbai – 400026, Maharashtra, India

Date of Birth/Age :

18.08.1968

Date of Appointment :

25.05.2005

DIN No.:

00117372

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U15430MH1948PLC006457	CADBURY INDIA LIMITED	Whole-time director	25-05-10	25-05-05	-	Active	NO

Name :

Mr. Sunil Kumar Taldar

Designation :

Whole Time Director

Address :

Cadbury House, 19, Bhulabhai Desai Road, Near Mahalaxmi temple, Mumbai – 400028, Maharashtra, India

Date of Birth/Age :

06.06.1965

Date of Appointment :

01.05.2011

DIN No.:

03573298

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U15430MH1948PLC006457	CADBURY INDIA LIMITED	Whole-time director	01-05-11	01-05-11	-	Active	NO

Name :

Mr. Frans Prolof Ryden

Designation :

Whole Time Director

Address :

Flat No.12, Apurva, 5 Nepean Sea Road, Mumbai – 400038, Maharashtra, India

Date of Birth/Age :

05.05.1972

Date of Appointment :

02.05.2011

DIN No.:

03595353

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U15430MH1948PLC006457	CADBURY INDIA LIMITED	Whole-time director	02-05-11	02-05-11	-	Active	NO

Name :

Ms. Sree Kirat Patel

Designation :

Whole Time Director

Address :

Flat 101, Juhu Sai Darshan, B Gulmohar Cross Raod, No.5, JVPD Scheme, Vile Parle (West), Mumbai – 400056, Maharashtra, India

Date of Birth/Age :

12.06.1958

Date of Appointment :

23.05.2011

DIN No.:

03554790

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U15430MH1948PLC006457	CADBURY INDIA LIMITED	Whole-time director	23-05-11	23-05-11	-	Active	NO

KEY EXECUTIVES

Name :	Ms. Barkha Bordia
Designation :	Company Secretary
Date of Birth/Age :	06.09.1967
Date of Appointment :	15.06.2010
PAN No. :	ABJPB9179P

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2011

Note : Shareholding Details File Attached

As on 29.09.2011

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

Products :

Item Code No. (ITC Code)	Product Description
180620.00	Chocolate Blocks, Slabs or Bars
190530.09	Coated Wafer Biscuits
190190.09	Malted Foods
170490.09	Sugar Confectionery

PRODUCTION STATUS (31.12.2011)

Particulars	Unit	Licensed Capacity	Installed Capacity @
Malted Foods	Tonnes	*	30,100
Cocoa Powder/Drinking Chocolate	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
Cocoa Powder/Drinking Chocolate *	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 :	Not Available
Bankers :	State Bank of India, Madame Cama Road, Nariman Point, Mumbai – 400021, Maharashtra, India Citibank NA HDFC Bank Limited HSBC Limited Bank of India The Royal Bank of Scotland N.V.

Banking Relations :	--
Auditors :
Name :	Lovelock and Lewes Chartered Accountants
Address :	252, Veer Saverkar Marg, Shivaji Park, Dadar, Mumbai – 400028, Maharashtra, India
PAN No.:	AABFL5878L
Advocates and Solicitors :	Talwar Thakore and Associates, Mumbai K.J. John and Company, New Delhi
Ultimate Holding Company :	Cadbury Pic., UK (up to 1^st February, 2010) Kraft Foods Inc., USA (from 2^nd February, 2010)
Holding Company :	Cadbury Schweppes Overseas Limited, UK
Subsidiaries :	Induri Farm Limited, India (CIN No.: U92410MH1946PLC004878)
Associate :	Cadbury Mauritius Limited, Mauritius
Fellow Subsidiaries :	· Cadbury Adams (Thailand) Limited, Thailand Cadbury Adams Middle East S.A.L., Lebanon Cadbury Adams US LLC, USA Cadbury Confectionery Malaysia Sdn. Bhd., Malaysia Cadbury Egypt Group, Egypt Cadbury Enterprises Pte Limited, Singapore Cadbury Foods Co Limited, China Cadbury Ghana Limited, Ghana Cadbury Holdings Limited, UK Cadbury Kenya Limited, Kenya Cadbury Nigeria Plc, USA Cadbury Pakistan Limited, Pakistan Cadbury UK, UK CS Business Service (India) Private Limited, India KJS India Private Limited, India Kraft Foods (Bahrain) Wll, Bahrain Kraft Foods (Philippines) Inc., Philippines Kraft Foods (Thailand) Limited, Thailand Kraft Food Asia Pacific Services Pte. Limited, Singapore Kraft Foods Australia Pty. Limited, Australia Kraft Food Europe GmbH, Switzerland Kraft Foods International Inc., USA Kraft Food R & D Inc., USA Kraft Foods UK Limited, UK Kraft Malaysia Sdn. Bhd, Malaysia Reading Scientific Services Limited, UK

CAPITAL STRUCTURE

As on 29.09.2011

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		31.12.2011	31.12.2010	31.12.2009
SHAREHOLDERS FUNDS
1] Share Capital		310.670	310.670	310.670
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		9911.221	7012.859	4997.280
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		10221.891	7323.529	5307.950
LOAN FUNDS
1] Secured Loans		0.000	0.000	22.779
2] Unsecured Loans		72.341	85.291	98.891
TOTAL BORROWING		72.341	85.291	121.670
DEFERRED TAX LIABILITIES		0.000	0.000	108.928
TOTAL		10294.232	7408.820	5538.548
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		5059.044	5064.349	3526.583
Capital work-in-progress		2456.370	801.151	1525.280
INVESTMENT		390.343	579.007	180.060
DEFERREX TAX ASSETS		189.080	139.492	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	4270.376	3392.296	1998.224
	Sundry Debtors	586.064	404.780	310.946
	Cash & Bank Balances	4893.667	4105.620	2709.973
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	792.354	362.084	659.273
Total Current Assets		10542.461	8264.780	5678.416
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	6915.160	5975.987	4462.462
	Other Current Liabilities	775.713	537.643	482.189
	Provisions	652.193	926.329	427.140
Total Current Liabilities		8343.066	7439.959	5371.791
Net Current Assets		2199.395	824.821	306.625
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		10294.232	7408.820	5538.548

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.12.2011	31.12.2010	31.12.2009
	SALES
		Income	33594.504	25032.359	19343.779
		Other Income	1285.721	302.686	142.267
		TOTAL (A)	34880.225	25335.045	19486.046
Less	EXPENSES
		Consumption Material Charges Inventories	16513.979	11264.062	8393.654
		Manufacturing Services Costs	2544.781	1871.349	1478.066
		Employee Related Expenses	2138.784	9061.065	6800.121
		Selling Expenses	9167.657	0.000	0.000
		TOTAL (B)	30365.201	22196.476	16671.841
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		4515.024	3138.569	2814.205
Less	FINANCIAL EXPENSES (D)		43.577	39.033	32.776
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		4471.447	3099.536	2781.429
Less/ Add	DEPRECIATION/ AMORTISATION (F)		708.131	607.588	438.329
	PROFIT BEFORE TAX (E-F) (G)		3763.316	2491.948	2343.100
Less	TAX (H)		792.735	404.150	456.828
	PROFIT AFTER TAX (G-H) (I)		2970.581	2087.798	1886.272
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		6239.042	4432.243	3899.162
Less	APPROPRIATIONS
		Transfer to General Reserve		0.000	1138.491
		Dividend	369.277	208.780	142.000
		Tax on Dividend		62.139	62.139
	BALANCE CARRIED TO THE B/S			10.080	10.561
			8840.346	6239.042	4432.243
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	NA	127.962	169.407
		Other Earnings	NA	1.789	2.083
	TOTAL EARNINGS		NA	129.751	171.490
	IMPORTS
		Raw Materials	3321.459	1778.701	1165.165
		Stores & Spares	92.504	18.773	8.816
		Capital Goods	763.176	198.427	350.118
	TOTAL IMPORTS		4177.139	1995.901	1524.099
	Earnings Per Share (Rs.)		95.62	67.20	59.72

KEY RATIOS

PARTICULARS		31.12.2011	31.12.2010	31.12.2009
PAT / Total Income	(%)	8.52	8.24	9.68
Net Profit Margin (PBT/Sales)	(%)	11.20	9.95	12.11
Return on Total Assets (PBT/Total Assets}	(%)	24.12	18.70	25.45
Return on Investment (ROI) (PBT/Networth)		0.37	0.34	0.44
Debt Equity Ratio (Total Debt /Networth)		0.00	1.03	1.03
Current Ratio (Current Asset/Current Liability)		1.26	1.11	1.06

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	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	No
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

UNSECURED LOAN :

(Rs. In Millions)

Particulars	As on 31.12.2011	As on 31.12.2010
Deferred sales tax loan	72.341	85.291
Total	72.341	85.291

CONTINGENT LIABILITIES:

(Rs. In Millions)

Particulars	31.12.2011	31.12.2010
Income-tax matters - Matters decided against the company in respect of which the company has preferred an appeal	135.083	135.083
Excise matters	1317.464	866.136
Sales Tax matters	279.442	489.170
Entry tax matters	2.683	2.620
Others	25.738	84.938

Note: Future cash outflows in respect of the above are determinable only on receipt of judgments/decisions pending with various. Authorities/forums and/or final outcome of the matters.

CADBURY FACES SCRUTINY IN TWO TAX CASES

NOVEMBER 23, 2012

Cadbury India, a unit of Mondelez International, is under the income-tax department’s scanner for alleged tax evasions amounting to Rs 2130.000 millions.

“Two cases of tax evasion by Cadbury India Ltd has been detected by the Directorate General of Central Excise Intelligence during the years 2009-10 to 2012-13, up to October 31, 2012,” S S Palanimanickam, minister of state, finance, told Parliament.

The cases pertain to a plant the company set up in Baddi, Himachal Pradesh.

Cadbury had written to the Excise Department seeking tax breaks on the plant it set up in June 2009 for manufacturing Cadbury chocolates, Five Star and Gems.

The department had, in turn, checked with Cadbury to find out if the plant was fully operational, or if the goods were only being packed there to get tax exemption. Its contention is that the excise duty waiver was sought even before the unit was fully set up and operational.

Had Cadbury got the tax exemption, it would have led to savings of Rs 5210.000 millions over a ten-year period, suggest reports.

But if the allegations against it are proved true, it will have to pay taxes from June 2009 onwards.

Evasion of excise duty on the plant would amount to Rs 2000.000 millions and evasion of service tax a further Rs 130.000 millions or so.

Incidentally, the service tax case has already been adjudicated and a tax demand of Rs 117.500 millions has been confirmed with a penalty of an equal amount, the minister said.

Companies that have set up plants in Himachal Pradesh and Uttarakhand before March 2010 can enjoy a tax holiday of ten years. The government had allowed this to encourage investments by companies. Several corporates, including Hindustan Unilever, Ranbaxy, Dabur, Hero Honda and Nestle, had set up plants in the state to make use of the tax sops.

This is the second time Cadbury has found itself in a tax tangle. Kraft International, which acquired Cadbury in 2010, is still being probed over tax dues in the $19 billion takeover.

“We are fully cooperating with the authorities on this enquiry. Since the investigation is currently  underway, it will be inappropriate on our part to discuss the details at this time,” said a Cadbury India Spokesperson.

(Reuters) - Authorities in India are investigating the local unit of chocolate maker Cadbury over allegations the company may have evaded as much as 2 billion rupees in taxes, the Minister of State for Finance said on Thursday, as the country beefs up its efforts to increase revenues to contain a widening fiscal deficit.

NOVEMBER 22, 2012

"Two cases of tax evasion by Cadbury India Ltd have been detected by the Directorate General of Central Excise Intelligence during the years 2009-10 to 2012-13, up to 31st October, 2012," the minister, S.S. Palanimanickam, told parliament in a written reply to questions from lawmakers.

This is the second time in as many years Cadbury has run into trouble with Indian authorities. Last year, an investigation was launched to determine whether Kraft Foods Inc (KRFT.O) needed to pay taxes arising from its $19 billion takeover of Cadbury. That probe is ongoing.

The latest of the two cases against Cadbury's India unit, which is controlled by Mondelez International Inc (MDLZ.O), involves alleged evasion of central excise duty, or factory gate tax at a company facility in Himachal Pradesh.

The Economic Times newspaper carried a Press Trust of India report earlier this month that Cadbury had "wrongfully" claimed an area-based tax exemption for its unit in Himachal Pradesh. That report said the amount involved about 1 billion rupees.

A spokesman for Cadbury India said the company was "fully cooperating" with authorities.

"Since the investigation currently is underway, it will be inappropriate on our part to discuss the details at this time," the spokesman said in an emailed statement.

Tax officials were not immediately available for comment.

Kraft Foods Inc last month spun off its North American grocery business as Kraft Foods Group. Mondelez International is the name of what remains from Kraft Foods Inc after the spinoff. Its brands include Oreo cookies, Cadbury chocolate and Trident gum. (Additional reporting by Anurag Kotoky, Devidutta Tripathy and Nandita Bose; editing by Tony Munroe)

GLOBAL SNACKS MAJOR MONDELEZ INTERNATIONAL UPS FOCUS ON INDIA WITH NEW SETUP

FEBRUARY 27, 2013

MUMBAI: Global snacks and chocolate major Mondelez International (Cadbury in India) has restructured its emerging markets operations to create individual business units forIndia and China and dissolve the developing markets division following the retirement of its head Sanjay Khosla.

Anand Kripalu, who has been heading India and southeast Asia, has been redesignated India MD as Mondelez sharpens focus on growth markets such as India, China, Russia and Brazil. Mondelez CEO Irene Rosenfeld has said that emerging markets, which account for 44% of the firm's global revenues, will receive the lion's share of its resources as developed markets are still going through difficult times.

Under the new structure, Mondelez has announced five worldwide regions, namely, Europe, North America,Latin America, Asia Pacific, and Eastern Europe, Middle East and Africa. Heads of each of these regions will report directly to Rosenfeld. The APAC region, headed by Pradeep Pant, will have four business units—Developed Markets, SE Asia, India and China.

Confirming the development, Kripalu said, "A key component of the focus of Mondelez International is India and China. These are growth engines for the global company and require undivided focus given their strategic importance to the global strategy."

The new streamlined region structure is expected to fuel growth by enhancing collaboration, expediting decision making and driving efficiencies. Kripalu's portfolio will include neighbouring countries Sri Lanka and Nepal. Globally, Rosenfeld has stated that the company's priority is BRIC markets, which will receive "the lion's share of our resources".

Mondelez will have individual country heads for each of these markets. Kraft Foods acquired Cadbury in 2010 and in October 2012, Kraft's snacks business that includes brands such as Cadbury, Tang and Oreo was spun off into Mondelez. The flagship company was left with the grocery portfolio, which includes Philadelphia cream cheese and Maxwell House coffee.

Kripalu, who joined Cadbury India in 2005 as managing director India, became president Asia for Cadbury in 2008. In 2010, after Kraft's acquisition, he became president south Asia and Indochina, responsible for India,Thailand and Vietnam. In March 2012 he also took charge of Malaysia and Philippines. Cadbury has more than 70% share in the Indian chocolate market.

The company reported sales of Rs 33590.000 millions in 2011 and is estimated to be growing around 35% a year. Since 2010, Cadbury India has brought in two Kraft brands— Oreo biscuits and Tang and it has been investing aggressively on advertising and distribution. This year Mondelez reported slightly slower growth rate in some developing markets like India because the company did not have enough manufacturing capacity to meet the demand.

CADBURY UNDER LENS FOR RS 1000.000-MILLIONS ALLEGED EXCISE DUTY EVASION

NOVEMBER 4, 2012

NEW DELHI : Confectionery firm Cadbury India Ltd has come under the scanner of financial intelligence sleuths for alleged excise duty evasion of about Rs 1000.000 millions.

In an inquiry being conducted by the Department of Revenue, the firm was allegedly found to have wrongfully claimed ‘area based exemption’ for its new unit at Baddi in Himachal Pradesh, official sources said.

A Cadbury India spokesperson confirmed that a probe was on but declined to discuss details about it.

“A compliant and ethical corporate culture, which includes adhering to laws and regulations in the countries in which we operate, is integral to our success. To that end, we are fully cooperating with the authorities on this inquiry.

“Since the investigation currently is under way, it will be inappropriate on our part to discuss the details at this time,” the spokesperson said in an email response to PTI.

As per the central government norms, the area-based exemption for new industrial units of firms in Himachal Pradesh provide full exemption from excise duties for specified goods for a period of 10 years. However, for obtaining this, the unit should have been established before March 2010 to claim such exemption.

Acting on intelligence inputs, the officers of Directorate General of Central Excise Intelligence (DGCEI) found that the company claimed excise duty exemption for its new unit in Sandoli village in Baddi, relating to a period even before it came into existence, the sources said.

According to a certificate of commercial production by the Industries Department of Himachal Pradesh, the unit was established sometime in January 2011, they said.

“By way of wrong availing of the area-based exemption for which they are not entitled, the new unit of Cadbury India Ltd in Himachal Pradesh has evaded the central excise duty to the tune of Rs 1000.000 millions approximately on the clearances of the goods manufactured by them,” a senior official said.

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, India Prisons Service, Interpol, etc.

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. 54.54
UK Pound	1	Rs. 84.19
Euro	1	Rs. 71.11

INFORMATION DETAILS

Report Prepared by :

ANK

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
-	NB	New Business	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.