MIRA INFORM REPORT
|
Report Date : |
10.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
CCL PRODUCTS (INDIA) LIMITED |
|
|
|
|
Registered
Office : |
Duggirala, Guntur - 522330, Andhra Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
22.03.1961 |
|
|
|
|
Com. Reg. No.: |
01-000874 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.133.028 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L15110AP1961PLC000874 |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer of Soluble Instant Spray Dried Coffee Powder, Spray Dried
Agglomerated / Granulated Coffee, Freeze Dried Coffee, as well as Freeze
Concentrated Liquid Coffee. |
|
|
|
|
No. of Employees
: |
400 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 23400000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a well established and a reputed company having a good
track record. The financial position of the company appears to be sound and healthy.
Directors are reported to be well experienced and knowledgeable businessmen. The company has performed well during year 2013. Trade relations are reported as decent. Business is active. Payment
terms are reported as regular and as per commitment. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another megatrend
happening. The World order is changing as economic power shifts from West to
East. According to McKinsey study, it took Britain more than 100 years to
double its economic output per person during its industrial revolution and the
US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
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. Ravi |
|
Designation : |
Manager |
|
Contact No.: |
91-8644-277294 |
|
Date : |
08.10.2013 |
LOCATIONS
|
Registered Office/ Factory : |
Duggirala, Guntur - 522330, Andhra Pradesh, India |
|
Tel. No.: |
91-8644-277294/ 277296 |
|
Fax No.: |
91-8644-277295 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2500 Sq ft |
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
7-1-24/2/D, Freendale, Ameerpet, Hyderabad - 500016, Andhra Pradesh,
India |
|
Tel. No.: |
91-40-23732455 |
|
Fax No.: |
91-40-23732499 |
DIRECTORS
As on: 31.03.2013
|
Name : |
Mr. Challa Rajendra Prasad |
|
Designation : |
Chairman and Managing Director |
|
Date of Birth/Age : |
61 Years |
|
Qualification : |
B.E. (Mech.) |
|
Experience : |
37 Years |
|
|
|
|
Name : |
Mr. Zafar Saifullah |
|
Designation : |
Director |
|
Date of Birth/Age : |
24.04.1936 |
|
Other Directorship : |
|
|
|
|
|
|
|
|
Name : |
Mr. J. Rambabu |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. I. J. Rao |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. K. Chandrahas |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Jonathan T. Feuer |
|
Designation : |
Director |
|
Date of Birth/Age : |
22.11.1951 |
|
|
|
|
Name : |
Mr. Vipin K. Singal |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. K. K. Sarma |
|
Designation : |
Additional Director (w.e.f. 03.07.2013) |
|
|
|
|
Name : |
Mr. B. Mohan Krishna |
|
Designation : |
Additional Director (w.e.f. 03.07.2013) |
|
|
|
|
Name : |
Mr. Challa Srishant |
|
Designation : |
Executive Director |
|
Date of Birth/Age : |
30 Years |
|
Qualification : |
B.A., B.L (Hons.) |
|
Experience : |
9 Years |
KEY EXECUTIVES
|
Name : |
Mr. Ravi |
|
Designation : |
Manager |
|
|
|
|
Name : |
Mr. K.V.L.N. Sarma |
|
Designation : |
Chief Financial Officer |
|
|
|
|
Name : |
Ms. Sridevi Dasari |
|
Designation : |
Company Secretary and Compliance Officer |
|
|
|
|
Audit Committee : |
|
|
|
|
|
Shareholders’ /
Investors’ Grievance Committee
: |
|
|
|
|
|
Remuneration Committee : |
|
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.06.2013
|
Category of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
(1) Indian |
|
|
|
|
4688995 |
35.25 |
|
|
4688995 |
35.25 |
|
|
|
|
|
|
600000 |
4.51 |
|
|
600000 |
4.51 |
|
Total shareholding
of Promoter and Promoter Group (A) |
5288995 |
39.76 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
1287935 |
9.68 |
|
|
4504 |
0.03 |
|
|
585833 |
4.40 |
|
|
1878272 |
14.12 |
|
|
|
|
|
|
761215 |
5.72 |
|
|
|
|
|
|
1658536 |
12.47 |
|
|
1422842 |
10.70 |
|
|
2292932 |
17.24 |
|
|
1036817 |
7.79 |
|
|
1183951 |
8.90 |
|
|
72164 |
0.54 |
|
|
6135525 |
46.12 |
|
Total Public
shareholding (B) |
8013797 |
60.24 |
|
Total (A)+(B) |
13302792 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
13302792 |
0.00 |
%20LIMITED%20-%20238946%2010-Oct-2013_files/image008.gif){kind=small}
%20LIMITED%20-%20238946%2010-Oct-2013_files/image009.gif){kind=small}
%20LIMITED%20-%20238946%2010-Oct-2013_files/image010.gif){kind=small}
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Soluble Instant Spray Dried Coffee Powder, Spray Dried
Agglomerated / Granulated Coffee, Freeze Dried Coffee, as well as Freeze
Concentrated Liquid Coffee. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
400 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
Notes: a) Details of
security: The Term Loans are secured by Paripassu Charge on all the Fixed Assets of the Company by way of deposit of title deeds in respect of Factory and Land admeasuring Acr.19.3475 Cents situated at Duggirala Mandal, Guntur District. The said facility is further secured by way of second charge on the current assets of the company both present and future. The Term Loans availed by the company are also secured by the personal guarantee of Mr. C.Rajendra Prasad (CMD). The Company availed a Buyer's Credit Limit of Rs.50.000 Millions from Yes Bank Limited for Capital Purchase which is secured by exclusive charge on the purchased asset along with personal guarantee of Mr. C. Rajendra Prasad (CMD) b) Details of Term Loan Borrowings (Rs. In Millions)
c) Deferred payment liabilities represent sales tax deferment. This loan is interest free and Rs. 0.679 Million repayable in the year 2013-14, Rs. 1.509 Millions repayable in the year 2014-15 respectively. Details of
security: Working Capital Facilities by State Bank of India, State Bank of Hyderabad, ICICI Bank Limited and Kotak Mahindra Bank Limited under consortium are secured by way of first paripassu charge on Hypothecation of stocks of raw materials, semi finished, finished goods consumables, stores, book debts and such movable assets present and future and second charge on all fixed assets of the company. |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M. Anandam and Company Chartered Accountant |
|
Address : |
7 ‘A ’, Surya Towers, Sardar Patel Road, Secunderabad – 500 003,
Andhra Pradesh, India |
|
|
|
|
Internal Auditors : |
|
|
|
Ramesh and Company Chartered Accountant |
|
Address : |
H. No: 6-3-661/B/1 Sangeeth Nagar, Somajiguda, Hyderabad – 500 082,
Andhra Pradesh, India |
|
|
|
|
Secretarial
Auditors : |
|
|
Name : |
P. S. Rao and Associates Chartered Accountant |
|
Address : |
Flat No.10, 4th Floor, D. No.6-3-347/22/2, Ishwarya Nilayam, Opposite Sai Baba Temple, Dwarakapuri Colony, Punjagutta, Hyderabad – 500 082, Andhra Pradesh, India |
|
|
|
|
|
|
|
Subsidiary
Companies : |
|
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,00,00,000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,33,02,792 |
Equity Shares |
Rs.10/- each |
Rs.133.028 Millions |
|
|
|
|
|
Details of
shareholders holding more than 5% shares :
|
|
No. of shares |
% Holding |
|
Challa Rajendra Prasad |
701005 |
5.27% |
|
Challa Shantha Prasad |
1800000 |
13.53% |
|
Challa Srishant |
787990 |
5.92% |
|
Challa Soumya |
1400000 |
10.52% |
|
Ian Breminer |
- |
- |
|
Reliance Capital Trustee Company Limited |
1296885 |
9.75% |
Reconciliation of
Number of Shares
|
|
2013 |
|
Number of shares as at 01.04.2012 |
13302792 |
|
Add : Shares issued during the year |
-- |
|
Number of shares as at 31.03.2013 |
13302792 |
Rights attached to
equity shares
The Company has only one class of equity shares having a face value of Rs.10 /- each. Each holder of equity share is entitled to one vote per share. The company declares and pays dividends in Indian Rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
133.028 |
133.028 |
133.028 |
|
(b) Reserves & Surplus |
2865.947 |
2397.348 |
2109.323 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
2998.975 |
2530.376 |
2242.351 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
156.521 |
52.188 |
249.527 |
|
(b) Deferred tax liabilities (Net) |
228.749 |
216.889 |
198.795 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
385.270 |
269.077 |
448.322 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
1228.929 |
1254.098 |
1084.240 |
|
(b) Trade payables |
250.859 |
174.829 |
101.951 |
|
(c) Other current liabilities |
206.239 |
243.582 |
283.545 |
|
(d) Short-term provisions |
78.939 |
79.601 |
43.282 |
|
Total Current
Liabilities (4) |
1764.966 |
1752.110 |
1513.018 |
|
|
|
|
|
|
TOTAL |
5149.211 |
4551.563 |
4203.691 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1807.630 |
2139.591 |
2279.991 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
2.267 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
800.407 |
375.540 |
375.540 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
291.565 |
31.562 |
14.287 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
2899.602 |
2548.960 |
2669.818 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1256.064 |
1073.629 |
812.650 |
|
(c) Trade receivables |
717.584 |
662.219 |
512.045 |
|
(d) Cash and cash equivalents |
24.000 |
43.573 |
45.333 |
|
(e) Short-term loans and advances |
249.222 |
218.624 |
161.351 |
|
(f) Other current assets |
2.739 |
4.558 |
2.494 |
|
Total Current
Assets |
2249.609 |
2002.603 |
1533.873 |
|
|
|
|
|
|
TOTAL |
5149.211 |
4551.563 |
4203.691 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5848.252 |
4897.312 |
3528.070 |
|
|
|
Other Income |
14.177 |
9.479 |
40.647 |
|
|
|
TOTAL (A) |
5862.429 |
4906.791 |
3568.717 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
3532.451 |
2955.179 |
2118.499 |
|
|
|
Changes in inventories |
(3.827) |
50.320 |
(94.942) |
|
|
|
Employee benefits expense |
174.735 |
130.997 |
102.799 |
|
|
|
Other expenses |
1072.331 |
952.787 |
764.880 |
|
|
|
TOTAL (B) |
4775.690 |
4089.283 |
2891.236 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1086.739 |
817.508 |
677.481 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
119.621 |
115.569 |
124.222 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
967.118 |
701.939 |
553.259 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
158.755 |
158.515 |
150.506 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
808.363 |
543.424 |
402.753 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
262.460 |
178.095 |
127.570 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
545.903 |
365.329 |
275.183 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
282.200 |
94.200 |
55.200 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Provision for dividend |
66.500 |
66.500 |
26.600 |
|
|
|
Short provision for Income Tax earlier |
0.000 |
0.000 |
5.300 |
|
|
|
Provision for dividend tax |
10.800 |
10.800 |
4.300 |
|
|
|
Transfer to General Reserve |
300.000 |
100.000 |
200.000 |
|
|
BALANCE CARRIED
TO THE B/S |
450.800 |
282.200 |
94.200 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
5287.440 |
4618.555 |
3370.384 |
|
|
|
Dividend |
1.076 |
1.327 |
1.187 |
|
|
TOTAL EARNINGS |
5288.516 |
4619.882 |
3371.571 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
3007.184 |
2211.493 |
1044.001 |
|
|
|
Component and Spares part |
32.947 |
45.786 |
32.490 |
|
|
|
Capital Goods |
55.693 |
9.158 |
1.205 |
|
|
TOTAL IMPORTS |
3095.824 |
2266.437 |
1077.696 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
41.04 |
27.46 |
20.69 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
|
30.06.2013 1st Quarter |
|
|
|
|
UnAudited |
|
Net Sales |
|
|
1272.200 |
|
Total Expenditure |
|
|
995.300 |
|
PBIDT (Excl OI) |
|
|
277.000 |
|
Other Income |
|
|
1.000 |
|
Operating Profit |
|
|
278.000 |
|
Interest |
|
|
21.400 |
|
Exceptional Items |
|
|
0.000 |
|
PBDT |
|
|
256.600 |
|
Depreciation |
|
|
35.000 |
|
Profit Before Tax |
|
|
221.600 |
|
Tax |
|
|
68.600 |
|
Provisions and contingencies |
|
|
0.000 |
|
Profit After Tax |
|
|
153.000 |
|
Extraordinary Items |
|
|
0.000 |
|
Prior Period Expenses |
|
|
0.000 |
|
Other Adjustments |
|
|
0.000 |
|
Net Profit |
|
|
153.000 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
9.31 |
7.45 |
7.71 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.82 |
11.10 |
11.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.59 |
13.02 |
10.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27 |
0.21 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.46 |
0.52 |
0.59 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27 |
1.14 |
1.01 |
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 |
Yes |
|
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 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 |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
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 |
|
LITIGATION
DETAILS |
|
|
PETITIONER THE COMMISSIONER OF CENTRAL EXCIDE |
RESPONDENT VS M/S. CCL PRODUCTS (INDIA) LTD. |
|
PET.ADV.: BATHULA RAJKIRAN (SC
FOR EXCISE & CUSTOMS) |
RESP.ADV.: VIJAY KUMAR |
|
SUBJECT: PENALTY |
DISTRICT: GUNTUR |
|
FILING DATE: 09-09-2009 |
POSTING STAGE: FOR ADMISSION |
|
REG. DATE: 26-02-2010 |
LISTING DATE: 02-07-2010 |
|
STATUS : ADMIT |
|
|
HON’BLE JUDGE(S) : B. PRAKASH
RAO
RAMESH RANGANATHAN |
|
COMPANY PERFORMANCE
The Company posted good financial results during the year. The production and sales of Instant Coffee were 13,045 M.Ts. and 13,003 M.Ts. as against 12,392 M.Ts. and 12,589 M.Ts. respectively in the preceding year. Turnover of the company has increased from Rs. 4897.300 Millions to Rs. 5848.200 Millions, registering growth of 19%. The net profit of the Company for the current year is Rs. 5,459 Millions as against Rs. 365.300 Millions in the preceding year, registering growth of 49%.
MANAGEMENT DISCUSSION
AND ANALYSIS
BUSINESS REVIEW
The Company has already established its long standing presence in the international markets in the traditional Spray-Dried Instant Coffee segment and has made a successful entry in the Freeze- Dried Coffee and focused to make a mark in the Liquid Coffee segment, the future for which is encouraging.
The Company's endeavours through its Quality Control Division to enhance the quality of products by a careful mix of various blends and essence and to give the products at best prices to the customer are showing results by taking the products to new competitive markets. Efforts to achieve the right mix of raw-materials are also giving advantage to the Company in achieving the best quality product at the most competitive price.
During the year the sales of the Company grew from Rs. 4893.500 Millions to Rs. 5848.200 Millions. The Net Profit is at Rs. 545.900 Millions as against Rs. 365.300 Millions during the preceding financial year.
Earnings per share (EPS) for the current year is Rs. 41
INDUSTRY STRUCTURE AND DEVELOPMENTS
The emerging markets in Asia are growing at a fast rate. China has the highest growth rate of around 12% per annum. 83% of the U.S. adult population now drinks coffee, the world's biggest consumer of the beverage, up from 78% a year earlier. The EU exported just over 11,000 tonnes of soluble coffee in the first quarter of 2013 representing an increase of 14% and the soluble imports reached more than 12,000 tonnes, representing an increase of 2% compared to the same period the previous year, according to Eurostat data. As per the latest trade statistics, Brazilian exports of soluble coffee reached almost 27,800 tonnes over the first four months of 2013, an increase of 18% compared to the same period of previous year.
OUTLOOK
The modern times have witnessed evolution of coffee drinking from an everyday habit to a healthy lifestyle choice. Coffee has gained the status of being the most preferred beverage worldwide. Coffee is the second most traded commodity in the world. The coffee market is expected to grow at an annual rate of over 2% per annum over the next five years, with the strongest growth in the emerging markets. China has the strongest growth rate. The fastest growth in soluble coffee consumption is expected to be from the emerging Asian consumers. Coffee Production for the past one year, ending June 2013 is around 145 million bags and the consumption of soluble coffee is 6,80,000 tonnes, reporting a growth of around 2.4% per annum.
The instant coffee sector outlook is bright as consumers increasingly value instant coffee's simplicity of preparation.
CONTINGENT
LIABILITIES
(Rs. In Millions)
|
Particular |
31.03.2013 |
31.03.2012 |
|
(A) Claims against
the company/ disputed liabilities not acknowledged as debts : |
|
|
|
- Income Tax |
195.054 |
294.211 |
|
- Excise & Customs |
3.176 |
3.176 |
|
- Service Tax |
55.066 |
55.066 |
|
(B) Guarantees |
|
|
|
- Bank Guarantees (includes Corporate Guarantees) |
1636.902 |
1514.478 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10377432 |
23/02/2013 * |
200,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227, D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B70794508 |
|
2 |
10363435 |
09/06/2012 |
50,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. |
B42786152 |
|
3 |
10018894 |
23/02/2013 * |
1,840,800,000.00 |
STATE BANK OF INDIA (IFB) |
INDUSTRIAL FINANCE BRANCH, SOMAJIGUDA, HYDERABAD, ANDHRA PRADESH - 500082, INDIA |
B70807136 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Plant and
Machinery
- Lab Equipment
- Material
Handling Equipment
- Fire Fighting
Equipment
- Vehicles
- Office
Equipment
- Furniture and
Fixtures
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.92 |
|
|
1 |
Rs.99.45 |
|
Euro |
1 |
Rs.83.92 |
INFORMATION DETAILS
|
Information
Gathered by : |
NAY |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
60 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely
sound financial base with the strongest capability for timely payment of
interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working
capital. No caution needed for credit transaction. It has above average
(strong) capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial &
operational base are regarded healthy. General unfavourable factors will not cause
fatal effect. Satisfactory capability for payment of interest and principal
sums |
Fairly
Large |
|
41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial
difficulties seems comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are
apparent. Repayment of interest and principal sums in default or expected to
be in default upon maturity |
Limited
with full security |
|
<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit
not recommended |
|
-- |
NB |
New
Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.