MIRA
INFORM REPORT
|
Report Date : |
06.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
MONDELEZ INDIA FOODS LIMITED |
|
|
|
|
Formerly Known
As : |
CADBURY INDIA LIMITED (w.e.f. 01.12.1989) HINDUSTAN COCOA PRODUCTS LIMITED |
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|
Registered
Office : |
Unit No. 2001, 20th Floor, Tower-3 (Wing C), Indiabulls Finance Centre Parel,
Mumbai – 400013, |
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|
Country : |
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Financials (as
on) : |
31.12.2012 |
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|
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|
Date of
Incorporation : |
19.07.1948 |
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|
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Com. Reg. No.: |
11-006457 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs. 310.670 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15430MH1948PLC006457 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEC05932D MUMC11991A PNEC05384B PNEC05376A MUMC00212C |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACCO460H |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturing and Selling of Food Products. |
|
|
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|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (81) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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|
Comments : |
Subject is a part of the “Mondelez
International Inc. Group”. It is an old and well established company having good track record. Management of the company has failed to file its financial for the
year 2013 with the government department. As per available financials (2012), financially the company
performance seems to be strong. Liquidity position is good. The rating also takes into consideration the robust brand image,
superior market position, strong financial risk profile marked by a strong
capital structure. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitment. The company can be considered for normal business dealings at usual trade
terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the
political and economic development in the dragon economy and has figured out
something that is quite worrying. He is of the view that the Chinese economy
could be heading toward trouble on account of new Chinese President Xi Jingping’s very aggressive anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed
that asset classes like real estate and equities were the biggest beneficiaries
of the liberalization policies. A firm called Ciane
Analytics studied returns from assets including equities, gold, fixed deposits,
G-Secs and real estate since 1991. Real estate
outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17
crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: “AAA” |
|
Rating Explanation |
Have highest degree of safety and carry
lowest credit risk. |
|
Date |
13.02.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: “A1+” |
|
Rating Explanation |
Have very strong degree of safety and carry
lowest credit risk. |
|
Date |
13.02.2013 |
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
31-03-2014.
INFORMATION DECLINED
Management Non-cooperative (91-22-33963100)
LOCATIONS
|
Registered Office: |
Unit No. 2001, 20th Floor, Tower-3 (Wing C), Indiabulls Finance Centre Parel,
Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-33963100 |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
Website : |
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Regional Offices: |
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Factories: |
Hadbast No 199, Village
Sandholi Baddi, Tehsil- Nalagarh, District
Solan-173205, Himachal Pradesh, India
|
|
|
|
|
Cocoa
Operations: |
Sennakalpalayam, Dalavaipattinam P.O, Dharapuram - 638672, Tamilnadu, India |
DIRECTORS
As on 25.06.2013
|
Name : |
Mr. Chugh Yoginoer Pal |
|
Designation : |
Chairman |
|
Address : |
6, Bournville Apartments, 19, B, |
|
Date of Birth/Age : |
06.03.1937 |
|
Date of Appointment : |
01.04.1997 |
|
DIN No.: |
00106536 |
|
|
|
|
Name : |
Mr. Radhakrishnan B. Menon
|
|
Designation : |
Whole Time Director |
|
Address : |
A/804/808 Wing No.2, Shabri Ashiana, |
|
Date of Birth/Age : |
23.02.1965 |
|
Date of Appointment : |
04.07.2002 |
|
DIN No.: |
01691357 |
|
|
|
|
Name : |
Mr. Anand Kripalu |
|
Designation : |
Managing Director |
|
Address : |
304, Cypress Marigold Housing Society, Klyani
Nagar, Pune – 411014, Maharashtra, India
|
|
Date of Birth/Age : |
02.10.1958 |
|
Date of Appointment : |
07.11.2005 |
|
DIN No.: |
00118324 |
|
|
|
|
Name : |
Mr. Narayan Sundaraman
|
|
Designation : |
Whole Time Director |
|
Address : |
402, |
|
Date of Birth/Age : |
29.03.1972 |
|
Date of Appointment : |
08.06.2010 |
|
DIN No.: |
03087167 |
|
|
|
|
Name : |
Mr. Atul Bhatia |
|
Designation : |
Whole Time Director |
|
Address : |
4, Bournville Apartments, 19, B, |
|
Date of Birth/Age : |
10.07.1951 |
|
Date of Appointment : |
15.05.2007 |
|
DIN No.: |
01499587 |
|
|
|
|
Name : |
Mr. Rajesh Ramanatha |
|
Designation : |
Whole Time Director |
|
Address : |
10, Shivashanti Bhuvan,
146, |
|
Date of Birth/Age : |
09.11.2007 |
|
Date of Appointment : |
01.05.2010 |
|
DIN No.: |
03077724 |
KEY EXECUTIVES
|
Name : |
Ms. Barkha Bordia |
|
Designation : |
Company Secretary |
|
Address : |
Flat 101, Juhu Sai
Darshan, “B” Gulmohar
Cross Road, No.5, JVPD Scheme Vile Parle (West), Mumbai – 40005, Maharashtra, India
|
|
Date of Birth/Age : |
05.09.1967 |
|
Date of Appointment : |
15.06.2010 |
|
PAN No. : |
ABJPB9179P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.06.2013
SHAREHOLDING DETAILS FILE ATTACHED
As on 25.06.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial
institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others |
97.62 |
|
Bodies corporate |
0.05 |
|
Other top fifty shareholders |
0.25 |
|
Others |
2.08 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Selling of Food Products |
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|
Products : |
|
PRODUCTION STATUS (31.12.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity @ |
|
Malted Foods |
Tonnes |
* |
30,100 |
|
|
Tonnes |
* |
900 |
|
Chocolates/Coated Wafer Biscuits |
Tonnes |
* |
# |
|
Hard Boiled Confectionary/Gums |
Tonnes |
* |
26,700 |
@ Installed
Capacity being a technical matter, is certified by the management and relied upon
by the auditors.
* Licensed
Capacity is not applicable as industrial licensing has been abolished in
respect of these products vide Notification No. SO-477(E) dated 25th July,
1991, issued by the Department of Industrial Development, Ministry of Industry,
Government of India.
# These products are manufactured in an integrated plant and hence
Installed Capacity cannot be given.
|
Particulars |
Unit |
Actual
Production @ |
|
Malted Foods |
Nos |
107,405,199 |
|
|
Tens |
136,090 |
|
Chocolates/Coated Wafer Biscuits |
Outers Bags Nos. Jars |
90,940,264 29,590,902 62,360,566 9,035,796 |
|
Hard Boiled Confectionary/Gums |
Jars Bags |
4,883,170 6,030,664 |
|
Gums |
Outers Jars |
2,544,160 7,342,127 |
|
Biscuits |
Outers Pcs |
3,196,479 103,179,655 |
@ Production includes quantities produced by third parties under
contract with the Company.
* Figures do not include Cocoa Powder produced for captive consumption
in other products.
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Lovelock and Lewes Chartered Accountants |
|
Address : |
252, Veer Saverkar Marg,
|
|
PAN No.: |
AABFL5878L |
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|
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|
Ultimate Holding
Company : |
Kraft Foods Inc., USA (Upto 30th September, 2012), Mondelez International Inc., (from 1st October, 2012) |
|
|
|
|
Holding Company : |
Cadbury Schweppes Overseas Limited, UK |
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|
|
|
Subsidiary Company
: |
Induri Farm Limited, India |
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|
|
|
Associate : |
Cadbury Mauritius Limited, Mauritius |
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|
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|
Fellow Subsidiaries
: |
· Cadbury Adams (Thailand) Limited, Thailand · Cadbury Confectionery Malaysia Sdn. Bhd., Malaysia · Cadbury Enterprises Pte. Limited, Singapore · Cadbury Foods Co. Limited, China · Cadbury Kenya Limited, Kenya · Cadbury South Africa (Pty) Limited, South Africa · Cadbury UK, UK · CS Business Services (India) Private Limited, India · Kent Gida Maddeleri Sanayii ve Ticaret Anonim Sirketi, Turkey · KJS India Private Limited, India · Kraft Food R & D Inc., USA · Kraft Foods (Philippines) Inc., Philippines · Kraft Foods (Thailand) Limited, Thailand · Kraft Foods Australia Pty. Limited, Australia · Kraft Foods Corporate Management (Shanghai) Company Limited, China · Kraft Foods Egypt SAE, Egypt (formerly Cadbury Egypt Group) · Kraft Foods Global Brands LLC, US · Kraft Foods Schweiz Holding GmbH, Switzerland · Kraft Malaysia Sdn. Bhd, Malaysia · MDLZ Osterreich Production, Austria · MDLZ Sverige Production Ab., Sweden · Mondelez Asia Pacific Pte. Limited, Singapore (formerly Kraft Food Asia Pacific Services Pte. Limited) · Mondelez Bahrain Wll, Bahrain(formerly Kraft Foods (Bahrain) Wll) · Mondelez Europe GmbH, Switzerland (formerly Kraft Food Europe GmbH) · Mondelez International Holdings LLC, USA (formerly Kraft Foods International Inc.) · Mondelez Pakistan Limited (formerly Cadbury Pakistan Limited) · Mondelez UK Limited, UK (formerly Kraft Foods UK Limited) · Mondelez UK R&D Limited, UK (formerly Foods UK R&D Limited) · Mondelez UK Holding and Service, UK (formerly Cadbury Holdings Limited) · PT Kraft Indonesia, Indonesia · Taloca GmbH, Switzerland |
CAPITAL STRUCTURE
As on 31.12.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
37500000 |
Equity Shares |
Rs.10/- each |
Rs.375.000 Millions |
|
|
|
|
|
Issued, Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
31069553 |
Equity Shares |
Rs.10/- each |
Rs. 310.695
Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
31067040 |
Equity Shares |
Rs.10/- each |
Rs. 310.670
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.12.2012 |
31.12.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
310.670 |
310.670 |
|
(b) Reserves & Surplus |
|
12873.165 |
9911.221 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
13183.835 |
10221.891 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
55.002 |
63.313 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
460.077 |
520.014 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
515.079 |
583.327 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
8309.218 |
6391.927 |
|
(c) Other current
liabilities |
|
1582.125 |
1312.098 |
|
(d) Short-term provisions |
|
664.224 |
132.178 |
|
Total Current Liabilities (4) |
|
10555.567 |
7836.203 |
|
|
|
|
|
|
TOTAL |
|
24254.481 |
18641.421 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
5953.523 |
5059.044 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
2967.706 |
1780.142 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.225 |
0.225 |
|
(c) Deferred tax assets (net) |
|
718.622 |
189.080 |
|
(d) Long-term Loan and Advances |
|
1850.968 |
716.016 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
11491.044 |
7744.507 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
390.118 |
|
(b) Inventories |
|
6766.273 |
4270.376 |
|
(c) Trade receivables |
|
527.206 |
586.064 |
|
(d) Cash and cash
equivalents |
|
4644.640 |
4893.667 |
|
(e) Short-term loans and
advances |
|
811.773 |
526.002 |
|
(f) Other current assets |
|
13.545 |
230.687 |
|
Total Current Assets |
|
12763.437 |
10896.914 |
|
|
|
|
|
|
TOTAL |
|
24254.481 |
18641.421 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
310.670 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
7012.859 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
7323.529 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
85.291 |
|
|
TOTAL BORROWING |
|
|
85.291 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
7408.820 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
5064.349 |
|
|
Capital work-in-progress |
|
|
801.151 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
579.007 |
|
|
DEFERREX TAX ASSETS |
|
|
139.492 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
3392.296
|
|
|
Sundry Debtors |
|
|
404.780
|
|
|
Cash & Bank Balances |
|
|
4105.620
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
362.084
|
|
Total
Current Assets |
|
|
8264.780 |
|
|
Less : CURRENT LIABILITIES
& PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
5975.987 |
|
|
Other Current Liabilities |
|
|
537.643
|
|
|
Provisions |
|
|
926.329
|
|
Total
Current Liabilities |
|
|
7439.959 |
|
|
Net Current Assets |
|
|
824.821
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
7408.820 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
40659.772 |
33646.410 |
25032.359 |
|
|
|
Other Income |
580.724 |
1233.815 |
302.686 |
|
|
|
TOTAL (A) |
41240.496 |
34880.225 |
25335.045 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
19509.072 |
|
|
|
|
|
Purchases of stock-in-trade |
136.931 |
238.578 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(518.960) |
(106.049) |
22196.476 |
|
|
|
Employee benefit expense |
2719.368 |
2391.934 |
|
|
|
|
Other expenses |
14881.533 |
11653.263 |
|
|
|
|
TOTAL (B) |
36727.944 |
30399.272 |
22196.476 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4512.552 |
4480.953 |
3138.569 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
60.081 |
43.577 |
39.033 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4452.471 |
4437.376 |
3099.536 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
792.369 |
674.060 |
607.588 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3660.102 |
3763.316 |
2491.948 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
625.458 |
792.735 |
404.150 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
3034.644 |
2970.581 |
2087.798 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
8840.346 |
6239.042 |
4432.243 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
303.464 |
297.058 |
208.780 |
|
|
|
Dividend |
62.139 |
62.139 |
62.139 |
|
|
|
Tax on Dividend |
10.561 |
10.080 |
10.080 |
|
|
BALANCE CARRIED
TO THE B/S |
11498.826 |
8840.346 |
6239.042 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
149.970 |
117.198 |
127.962 |
|
|
|
Other Earnings |
245.150 |
128.989 |
1.789 |
|
|
TOTAL EARNINGS |
395.120 |
246.187 |
129.751 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
5440.737 |
3627.026 |
1778.701 |
|
|
|
Stores & Spares |
37.884 |
92.504 |
18.773 |
|
|
|
Capital Goods |
733.721 |
228.288 |
198.427 |
|
|
TOTAL IMPORTS |
6212.342 |
3947.818 |
1995.901 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
97.68 |
95.62 |
67.20 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
PAT / Total Income |
(%) |
7.36
|
8.52 |
8.24
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.00
|
11.18 |
9.95
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.80
|
22.57 |
18.70
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.37 |
0.34
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.01 |
1.03
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21
|
1.39 |
1.11
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
310.670 |
310.670 |
|
Reserves & Surplus |
9,911.221 |
12,873.165 |
|
Net
worth |
10,221.891 |
13,183.835 |
|
|
|
|
|
long-term borrowings |
63.313 |
55.002 |
|
Short term borrowings |
0.000 |
0.000 |
|
Total
borrowings |
63.313 |
55.002 |
|
Debt/Equity
ratio |
0.006 |
0.004 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
25,032.359 |
33,646.410 |
40,659.772 |
|
|
|
34.412 |
20.844 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
25,032.359 |
33,646.410 |
40,659.772 |
|
Profit |
2,087.798 |
2,970.581 |
3,034.644 |
|
|
8.34% |
8.83% |
7.46% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
Rs. In Millions
|
Particular |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
|
|
|
|
Current maturities of long-term debt |
8.311 |
9.028 |
NA |
|
|
|
|
|
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
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:
HIGH
COURT OF BOMBAY
|
Bench:- Bombay |
|||||||
|
|
|||||||
|
Lodging No:- |
|
Filing Date:- |
|
Reg. No.:- |
|
Reg. Date:- |
|
|
|
|||||||
|
Petitioner:- |
THE COMMISSIONER OF INCOME TAX -5 |
Respondent:- |
CADBURY INDIA LIMITED |
||||
|
Petn. Adv.: |
SHRI ABHAY AHUJA (0) |
Resp. Adv.: |
CRAWFORD BAYLEY AND COMPANY |
||||
|
District:- |
MUMBAI |
||||||
|
|
|||||||
|
Bench:- |
SINGLE |
||||||
|
Status:- |
Pre-Admission |
Category:- |
|
||||
|
Next Date:- |
|
|
|
||||
|
Coram:- |
|
|
FOR ADMISSION –FRESH |
||||
|
|
21/01/2013 |
|
|
||||
|
Last Coram:- |
HONBLE SHRI JUSTICES J.P. DEVADHAR HONBLE SHRI JUSTICES M.S. SANKLECHA |
|
|
||||
|
|
|||||||
|
Act:- |
Income Tax Act, 1961 |
Under Section:- |
260A |
||||
UNSECURED LOAN
(Rs. In Millions)
|
Particular |
As
on 31.12.2012 |
As
on 31.12.2011 |
|
Long-term
Borrowings |
|
|
|
Deferred Payment
Liabilities |
|
|
|
from Government of Madhya Pradesh |
5.448 |
13.759 |
|
from Government of Maharashtra |
49.554 |
49.554 |
|
Total |
55.002 |
63.313 |
|
Terms of Repayment This liability is towards interest free sales tax deferral scheme of Government of Maharashtra and Government of Madhya Pradesh. Under the Scheme, the company is allowed to collect sales tax and defer the payment at a future date agreed with the sales tax departments of the respective states ranging between 1 to 5 years. |
||
CONTINGENT
LIABILITIES:
(Rs. In Millions)
|
Particulars |
31.12.2012 |
31.12.2011 |
|
Income-tax matters - Matters decided against the company in respect of which the company has preferred an appeal |
336.557 |
135.083 |
|
Excise matters |
2047.389 |
1317.464 |
|
Sales Tax matters |
394.084 |
279.442 |
|
Entry tax matters |
2.638 |
2.683 |
|
Others |
24.289 |
25.738 |
Notes:
Future cash outflows in respect of the above are determinable only on receipt of judgements/ decisions pending with various authorities/forums and/or final outcome of the matters
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS:
- Goodwill
- Know-how
- Freehold Land
- Leasehold Land
- Buildings
- Plant and Machinery
- Electrical Installation
- Furniture and Fittings
- Office Equipment
- Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a
proceedings for violating money-laundering, anti-corruption or bribery or
international economic or anti-terrorism sanction laws or whose assets were
seized, blocked, frozen or ordered forfeited for violation of money laundering
or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No 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. 60.87 |
|
|
1 |
Rs. 102.67 |
|
Euro |
1 |
Rs. 81.70 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
9 |
|
--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 |
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 |
|
81 |
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.