|
Report Date : |
12.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
VARUN BEVERAGES LIMITED |
|
|
|
|
Registered
Office : |
F-2/7, Okhla Industrial Area, Phase I, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2013 |
|
|
|
|
Date of
Incorporation : |
16.06.1995 |
|
|
|
|
Com. Reg. No.: |
55-069839 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1337.662 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1995PLC069839 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELV04789B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV2678L |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in manufacturing of
Soft Drinks and also offers bottling services to Pepsi Co. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 10242000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The rating is constrained on account of company’s moderate financial risk
profile marked by loss that company has incurred from its operational
activities and low reserves of the company. However, trade relations are fair. Business is active. Payments are
reported to be slow. The company can be considered for business dealing with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
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.
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 PARTED BY
|
Name : |
Mr. Ratnesh |
|
Designation : |
Marketing Manager |
|
Contact No.: |
91-124-4643500 |
|
Date : |
11.08.2014 |
LOCATIONS
|
Registered Office : |
F-2/7, Okhla Industrial Area, Phase I, New Delhi – 110020,
India |
|
Tel. No.: |
91-11-41706720 |
|
Fax No.: |
91-11-41706722 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
Plot No.31, Institutional Area, Sector 44, Gurgaon
- 122002, Haryana, India |
|
Tel. No.: |
91-124-4643100-500 |
|
|
|
|
Corporate Office
: |
F-34, Sector – VI, Noida – 201301, Uttar Pradesh, India |
|
Tel. No.: |
91-120-2422413 / 2422414 / 2530976 / 2531004 / 2550337 |
|
Fax No.: |
91-120-2422870 / 2422745 / 2550338 |
|
|
|
|
Plants : |
· Village Tajpur, Tehsil Nuh, District Mewat, Haryana, India Balmukundapura, Ajmer Road, Tehsil Sanganer, Jaipur,
Rajasthan, India Village, Dautana, 107 K.M. Stone, Delhi – Agra High Way,
Near Kosi Kalan Mills, District Mathura, Uttar Pradesh, India Plot No. S.P. 646-653, Matsya Industrial Area, RIICO,
Alwar, Rajasthan Plot No.159, RIICO Industrial Area, Phase – II, Boranada,
Jodhpur – 342801, Rajasthan, India |
|
|
|
|
Overseas Office
: |
Located at: ·
Sri Lanka ·
Nepal ·
Mozambique ·
Zambia ·
Morocco |
DIRECTORS
As on 24.06.2014
|
Name : |
Mr. Ravi Kant Jaipuria |
|
Designation : |
Director |
|
Address : |
Plot No. 7A, Aurangzeb Road, New Delhi – 110011, India |
|
Date of Birth/Age : |
28.11.1954 |
|
Qualification : |
MBA |
|
Date of Appointment : |
16.06.1995 |
|
DIN No.: |
00003668 |
|
|
|
|
Name : |
Mr. Christopher White |
|
Designation : |
Whole-time director |
|
Address : |
12, Cuscaden Walk, 19-02, Four Seasons PK, Singapore 249694 |
|
Date of Birth/Age : |
01.11.1961 |
|
Qualification : |
LLB |
|
Experience : |
29 Years |
|
Date of Appointment : |
29.06.2009 |
|
PAN No.: |
ABKPW4635J |
|
DIN No.: |
01564507 |
|
|
|
|
Name : |
Mr. Raj Pal Gandhi |
|
Designation : |
Whole-time director |
|
Address : |
P-2/50, DLF Phase II, Gurgaon – 122002, Haryana, India |
|
Date of Birth/Age : |
07.06.1957 |
|
Qualification : |
CA |
|
Experience : |
32 Years |
|
Date of Appointment : |
21.10.2004 |
|
PAN No.: |
AALPG8397D |
|
DIN No.: |
00003649 |
|
|
|
|
Name : |
Mr. Varun Jaipuria |
|
Designation : |
Whole-time director |
|
Address : |
Plot No.7A, Aurangzeb Road, New Delhi – 110011, India |
|
Date of Birth/Age : |
10.11.1987 |
|
Qualification : |
Graduate from Regents College, London |
|
Experience : |
4 Years |
|
Date of Appointment : |
20.02.2009 |
|
PAN No.: |
AHAPJ9246N |
|
DIN No.: |
02465412 |
|
|
|
|
Name : |
Mr. Kamlesh Kumar Jain |
|
Designation : |
Whole-time director |
|
Address : |
139-D, Pocket B, Mayur Vihar, Phase – II, Delhi – 110091, India |
|
Date of Birth/Age : |
23.06.1962 |
|
Qualification : |
CA |
|
Date of Appointment : |
05.06.2009 |
|
PAN No.: |
AAHPJ2128D |
|
DIN No.: |
01822576 |
|
|
|
|
Name : |
Mr. Kapil Agarwal |
|
Designation : |
Director |
|
Address : |
KK-85, Kavi Nagar, Ghaziabad – 201002, Uttar Pradesh, India |
|
Date of Birth/Age : |
08.06.1964 |
|
Qualification : |
B.Com and PGDBM |
|
Date of Appointment : |
11.06.2012 |
|
DIN No.: |
02079161 |
|
|
|
|
Name : |
Udai Dhawan |
|
Designation : |
Director |
|
Address : |
107, 1st Floor, Anand Lok, New Delhi – 110049, India |
|
Date of Birth/Age : |
17.01.1973 |
|
Date of Appointment : |
14.05.2013 |
|
DIN No.: |
03048040 |
KEY EXECUTIVES
|
Name : |
Mr. Mahavir Parasd Garg |
|
Designation : |
Secretary |
|
Address : |
WZ 17A, Krishna Puri, Tilak Nagar, New Delhi – 110018, India |
|
Date of Birth/Age : |
10.03.1967 |
|
Date of Appointment : |
16.12.2013 |
|
PAN No.: |
AAGPG1348H |
|
|
|
|
Name : |
Mr. R.J.S. Bagga |
|
Designation : |
Chief Operating Officer |
|
Date of Birth/Age : |
51 Years |
|
Qualification : |
M-Tec |
|
Experience : |
27 Years |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.06.2014
|
Names of Shareholders |
No. of Shares |
%age |
|
R.K. Jaipuria and Sons (HUF) |
44187870 |
33.03 |
|
Devyani Enterprises Private Limited, India |
2270 |
0.00 |
|
Devyani Overseas Private Limited, India |
5800 |
0.00 |
|
RJ Corp Limited, India |
45387415 |
33.93 |
|
Varun Jaipuria |
44175500 |
33.02 |
|
Universal Dairy Products Private Limited, India |
1765 |
0.00 |
|
Devyani Jaipuria |
1765 |
0.00 |
|
Dhara Jaipuria |
2015 |
0.00 |
|
Standard Chartered Private Equity Mauritius II Limited, Mauritius |
1765 |
0.00 |
|
|
|
|
|
Total |
133766165 |
100.00 |
As on 24.06.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
33.94 |
|
Directors or relatives of Directors |
33.03 |
|
Other top fifty shareholders |
33.03 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing of
Soft Drinks and also offers bottling services to PepsiCo. |
||||||||||||
|
|
|
||||||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.12.2011)
|
Particulars |
Unit |
31.12.2009 |
|
Licensed Capacity |
|
NA |
|
|
|
|
|
Installed
Capacity* |
|
|
|
Beverages |
BPM |
8820 |
|
Pet Performs |
PPM |
1000 |
|
Crown Corks |
Gross Per Day |
46500 |
|
LUG Caps |
Nos. Per Day |
576000 |
|
Corrugated Boxes |
Nos. Per Day |
52000 |
|
|
|
|
|
Actual Production |
|
|
|
Beverages |
Cases/Bags |
45304730 |
|
Pet Performs |
Nos. |
**413923105 |
|
Crown Corks |
Gross |
9831650 |
|
PVC Shells |
Nos. |
0 |
|
LUG Caps |
Nos. |
16966313 |
|
Cartons |
Nos. |
10777009 |
Notes
** Includes Job Work
of 29036082 Nos.
* As certified by
the Management and relied upon by the Auditors being a technical matter (One
case of 24/12/9 Bottles).
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
· Axis Bank Limited, 2nd Floor, Statesman House, 148, Barakhamba Road, New Delhi - 110001, India ICICI Bank Limited,
Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India ING Vysya Bank Limited, SCO 90,
Sector 22, Gurgaon - 122001, Haryana, India Yes Bank Limited, 9th Floor,
Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai -
400018, Maharashtra, India DBS Bank Limited, Upper Ground
Floor, 25, Barakhamba Road, New Delhi - 110001, India DBS Bank Limited (Acting As An
Security Agent), Capitol Point, Baba Kharak Singh Marg, C.P., New Delhi -
110001, India Indusind Bank Limited, Dr.
Gopal Das Bhawan, 28 Barakhamba Road, New Delhi - 110001, India Kotak Mahindra Bank Limited,
15-16 Upper Ground Floor, Ambadeep Building, 14, Kasturba Gandhi Marg, New
Delhi - 110001, India HDFC Bank Limited, HDFC Bank
House, Senapati Bapat Marg, Lower Parel [West], Mumbai - 400013, Maharashtra,
India Standard Chartered Bank,
(Acting As An Security Agent) C D U, Narain Manzil, 23 Barakhamba Road, New
Delhi - 110001, India The Hongkong and Shanghai
Banking Corporation Limited, Birla Tower, 25 Barakhamba Road, New Delhi -
110001, India IDBI Bank Limited, Red Cross
Building, 3rd Floor, 1, Red Cross Road, New Delhi - 110001, India ·
Axis Bank Limited, 10, Opg House, Asaf Ali Road,
New Delhi - 110002, India |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name 1 : |
O.P. Bagala and Company Chartered Accountants |
|
Address : |
8 / 12, Kalkaji Extension, New Delhi – 110019, India |
|
PAN
No. : |
AAAFO1030A |
|
|
|
|
Name 2 : |
Walker Chandiok and Associates Chartered Accountants |
|
Address : |
21st Floor, DLF Phase-II, Jacranda Marg, DLF Phase - II, Gurgaon - 122002, Haryana, India |
|
PAN
No. : |
AAAFW0513A |
|
|
|
|
Subsidiaries and
fellow subsidiaries : |
¨ Varun Beverages Morocco SA. ¨ Varun Beverages (Nepal) Private Limited ¨ Varun Beverages (Lanka) Private Limited ¨ Ole Spring Bottlers Private Limited |
|
|
|
|
Enterprise having significant
influence : |
¨ RJ Corp Limited. ¨ PepsiCo India Holdings Private Limited. (up to 2-10-2012) ¨ Ravi Kant Jaipuria and Sons (HUF) |
|
|
|
|
Associates : |
¨ Devyani International Limited ¨ Devyani Food Industries Limited ¨ SVS India Private Limited ¨ Sellwell Foods and Beverages Private Limited ¨ Saab Tour and Travels Private Limited ¨ AbInbev India Private Limited |
CAPITAL STRUCTURE
As on 31.12.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
186000000 |
Equity Shares |
Rs.10/- each |
Rs.1860.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
133766165 |
Equity Shares |
Rs.10/- each |
Rs.1337.662 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
1337.660 |
267.530 |
80.000 |
|
(b) Reserves & Surplus |
823.020 |
1509.500 |
1022.570 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
400.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
2560.680 |
1777.030 |
1102.570 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
14888.090 |
12118.360 |
5614.780 |
|
(b) Deferred tax liabilities (Net) |
752.800 |
935.400 |
701.730 |
|
(c) Other long term liabilities |
187.390 |
218.120 |
544.870 |
|
(d) long-term provisions |
125.610 |
98.610 |
78.690 |
|
Total Non-current Liabilities (3) |
15953.890 |
13370.490 |
6940.070 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2035.720 |
2290.420 |
2357.180 |
|
(b) Trade payables |
857.300 |
526.450 |
288.050 |
|
(c) Other current
liabilities |
3545.980 |
3642.750 |
1823.020 |
|
(d) Short-term provisions |
42.730 |
47.000 |
12.870 |
|
Total Current Liabilities (4) |
6481.730 |
6506.620 |
4481.120 |
|
|
|
|
|
|
TOTAL |
24996.300 |
21654.140 |
12523.760 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
15894.840 |
12212.880 |
7357.530 |
|
(ii) Intangible Assets |
1307.360 |
23.770 |
36.480 |
|
(iii) Capital
work-in-progress |
102.250 |
1484.080 |
1089.610 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1684.500 |
1011.890 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2206.620 |
2550.310 |
227.890 |
|
(e) Other Non-current assets |
145.050 |
173.530 |
27.430 |
|
Total Non-Current Assets |
21340.620 |
17456.460 |
8738.940 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.010 |
0.010 |
0.000 |
|
(b) Inventories |
1815.990 |
1820.750 |
1700.330 |
|
(c) Trade receivables |
396.970 |
581.350 |
869.050 |
|
(d) Cash and cash
equivalents |
151.000 |
88.120 |
37.770 |
|
(e) Short-term loans and
advances |
987.900 |
1573.430 |
820.380 |
|
(f) Other current assets |
303.810 |
134.020 |
357.290 |
|
Total Current Assets |
3655.680 |
4197.680 |
3784.820 |
|
|
|
|
|
|
TOTAL |
24996.300 |
21654.140 |
12523.760 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
17298.570 |
14505.900 |
11396.040 |
|
|
|
Other Income |
345.310 |
473.570 |
4.280 |
|
|
|
TOTAL |
17643.880 |
14979.470 |
11400.320 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
9809.610 |
8090.330 |
6892.660 |
|
|
|
Purchases of Stock-in-Trade |
551.740 |
500.610 |
465.040 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(27.220) |
10.760 |
(312.000) |
|
|
|
Employees benefits expense |
1253.270 |
1003.920 |
731.490 |
|
|
|
Prior Period Item Tax |
50.950 |
0.000 |
0.000 |
|
|
|
Other expenses |
3426.760 |
3004.940 |
2223.440 |
|
|
|
TOTAL |
15065.110 |
12610.560 |
10000.630 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
2578.770 |
2368.910 |
1399.690 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1478.640 |
975.510 |
719.120 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1100.130 |
1393.400 |
680.570 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1344.850 |
961.820 |
559.340 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(244.720) |
431.580 |
121.230 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(159.280) |
132.580 |
43.440 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(85.440) |
299.000 |
77.790 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
161.960 |
133.570 |
94.880 |
|
|
|
Interest |
98.630 |
86.790 |
0.000 |
|
|
|
Guarantee commission |
31.260 |
0.000 |
0.000 |
|
|
|
Dividend |
95.220 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
387.07 |
220.360 |
94.880 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
926.830 |
659.720 |
792.500 |
|
|
|
Stores, Spares & Raw Material |
1357.250 |
537.650 |
409.533 |
|
|
TOTAL IMPORTS |
2284.080 |
1197.370 |
1202.033 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(0.67) |
2.60 |
(0.21) |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
PAT / Total Income |
(%) |
(0.48) |
2.00 |
0.68 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(1.41) |
2.98 |
1.06 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.05) |
2.25 |
1.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.10) |
0.24 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
6.61 |
8.11 |
7.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.56 |
0.65 |
0.84 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
80.000 |
267.530 |
1337.660 |
|
Reserves & Surplus |
1022.570 |
1509.500 |
823.020 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
400.000 |
|
Net
worth |
1102.570 |
1777.030 |
2560.680 |
|
|
|
|
|
|
long-term borrowings |
5614.780 |
12118.360 |
14888.090 |
|
Short term borrowings |
2357.180 |
2290.420 |
2035.720 |
|
Total
borrowings |
7971.960 |
14408.780 |
16923.810 |
|
Debt/Equity
ratio |
7.230 |
8.108 |
6.609 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
11396.040 |
14505.900 |
17298.570 |
|
|
|
27.289 |
19.252 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
11396.040 |
14505.900 |
17298.570 |
|
Profit |
77.790 |
299.000 |
(85.440) |
|
|
0.68% |
2.06% |
(0.49%) |
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 |
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 |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS
|
PARTICULAR |
31.12.2013 (Rs.
In Millions) |
31.12.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Fully convertible debentures others |
4149.980 |
4149.980 |
|
Deferred payment liabilities |
1469.080 |
1655.800 |
|
Total |
5619.060 |
5805.780 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10485918 |
26/03/2014 |
1,000,000,000.00 |
INDUSIND BANK LTD. |
DR. GOPAL DAS BUILDING, 28, BARAKHAMBA ROAD, NEW DELHI, Delhi -
110001, INDIA |
C00845792 |
|
2 |
10477634 |
31/01/2014 |
200,000,000.00 |
THE RATNAKAR BANK LIMITED |
SHAHUPURI,KOLHAPUR, KOLHAPUR, Maharashtra - 416001, INDIA |
B96385190 |
|
3 |
10477636 |
31/01/2014 |
800,000,000.00 |
THE RATNAKAR BANK LIMITED |
SHAHUPURI,KOLHAPUR, KOLHAPUR, Maharashtra - 416001, INDIA |
B96385810 |
|
4 |
10469313 |
05/12/2013 |
500,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B93192391 |
|
5 |
10456991 |
25/07/2014 * |
800,000,000.00 |
IDBI Bank Limited |
3rd floor, Indian Red Cross Society Building, 1, |
C13882261 |
|
6 |
10451039 |
30/09/2013 * |
2,500,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD,
WORLI, MUMBAI, Maharashtra - 400018, INDIA |
B86255866 |
|
7 |
10452773 |
30/08/2013 |
1,000,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD,
WORLI, MUMBAI, Maharashtra - 400018, INDIA |
B86542677 |
|
8 |
10403711 |
27/06/2013 * |
800,000,000.00 |
IDBI Bank Limited |
Red Cross Building, 3rd floor, 1, Red Cross Road, |
B78566643 |
|
9 |
10383910 |
23/05/2014 * |
500,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
C04255154 |
|
10 |
10384804 |
22/06/2013 * |
200,000,000.00 |
ING VYSYA BANK LIMITED |
SCO 90, SECTOR 22, GURGAON, Haryana - 122001, INDIA |
B81383234 |
|
11 |
10345840 |
30/06/2012 * |
800,000,000.00 |
AXIS BANK LTD. |
2ND FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD, |
B44455749 |
|
12 |
10345844 |
30/06/2012 * |
200,000,000.00 |
AXIS BANK LTD. |
2ND FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD, |
B44456150 |
|
13 |
10319520 |
06/08/2012 * |
200,000,000.00 |
DBS Bank Ltd. |
Upper Ground Floor, 25, Barakhamba Road, New Delhi, Delhi - 110001,
INDIA |
B56097579 |
|
14 |
10320959 |
08/05/2014 * |
999,800,000.00 |
DBS BANK LTD. (Acting as an Security Agent) |
CAPITAL POINT, BABA KHARAK SINGH MARG, CONNAUGHT PLACE, NEW DELHI,
Delhi - 110001, INDIA |
C04084737 |
|
15 |
10308121 |
23/09/2011 |
500,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
B21439609 |
|
16 |
10304902 |
08/09/2011 * |
500,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
B20509121 |
|
17 |
10300722 |
27/06/2013 * |
50,000,000.00 |
INDUSIND BANK LTD. |
DR. GOPAL DAS BUILDING, 28, BARAKHAMBA ROAD, NEW DELHI, Delhi -
110001, INDIA |
B80284102 |
|
18 |
10300335 |
30/04/2014 * |
500,000,000.00 |
INDUSIND BANK LTD. |
DR. GOPAL DAS BUILDING, 28, BARAKHAMBA ROAD, NEW DELHI, Delhi -
110001, INDIA |
C03960085 |
|
19 |
10305920 |
06/08/2011 |
50,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra
- 400013, INDIA |
B20377958 |
|
20 |
10302932 |
30/06/2012 * |
93,300,000.00 |
AXIS BANK LTD. |
2ND FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD, NEW DELHI, Delhi -
110001, INDIA |
B44457075 |
|
21 |
10297084 |
15/03/2013 * |
800,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI,
MUMBAI, Maharashtra - 400018, INDIA |
B74879123 |
|
22 |
10264416 |
28/05/2014 * |
980,000,000.00 |
STANDARD CHARTERED BANK |
(Acting as an Security Agent) C D U, NARAIN MANZIL, 23 BARAKHAMBA
ROAD, NEW DELHI, Delhi - 110001, INDIA |
C05315809 |
|
23 |
10227119 |
18/02/2013 * |
100,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
B68917111 |
|
24 |
10184056 |
19/06/2013 * |
50,000,000.00 |
INDUSIND BANK LTD. |
DR. GOPAL DAS BUILDING, 28, BARAKHAMBA ROAD, NEW DELHI, Delhi -
110001, INDIA |
B79202826 |
|
25 |
10180131 |
29/08/2013 * |
225,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
AMBADEEP BUILDING, 14, KASTURBA GANDHI MARG, NEW DELHI, Delhi -
110001, INDIA |
B86285640 |
|
26 |
10167884 |
30/07/2009 |
100,000,000.00 |
STANDARD CHARTERED BANK |
CREDIT RISK CONTROL, NARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW DELHI,
Delhi - 110001, INDIA |
A66502451 |
|
27 |
10168482 |
28/04/2014 * |
550,000,000.00 |
Standard Chartered Bank |
STANDARD CHARTERED BANK, NARAIN MANZIL, 23, BARAKHAMBA ROAD, NEW
DELHI, Delhi - 110001, INDIA |
C02197978 |
|
28 |
10164965 |
17/12/2012 * |
600,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD,
WORLI, MUMBAI, Maharashtra - 400018, INDIA |
B67942375 |
|
29 |
10158277 |
07/05/2012 * |
189,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD,
WORLI, MUMBAI, Maharashtra - 400018, INDIA |
B39131552 |
|
30 |
10143267 |
27/06/2013 * |
350,000,000.00 |
INDUSIND BANK LTD. |
DR. GOPAL DAS BUILDING, 28, BARAKHAMBA ROAD, NEW DELHI, Delhi -
110001, INDIA |
B79541900 |
|
31 |
10127791 |
13/01/2009 * |
300,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra
- 400013, INDIA |
A57801011 |
|
32 |
10099314 |
08/11/2011 * |
460,000,000.00 |
AXIS BANK LTD. |
4/10, OPG HOUSE, ASAF ALI ROAD, NEW DELHI, Delhi - 110002, INDIA |
B25871542 |
|
33 |
10041649 |
19/02/2007 |
3,000,000.00 |
PEPSICO INDIA HOLDINGSS PVT LTD |
3B DLF CORPORATE PARK 'S'BLOCK, QUTAB ENCLAVE PHASE- III, Gurgaon,
Haryana - 122002, INDIA |
A11950714 |
|
34 |
10041651 |
19/02/2007 |
8,800,000.00 |
PEPSICO INDIA HOLDINGSS PVT LTD |
3B DLF CORPORATE PARK 'S'BLOCK, QUTAB ENCLAVE, PH-III, GURGAON, Haryana
- 122002, INDIA |
A11950912 |
|
35 |
10005916 |
30/04/2014 * |
650,000,000.00 |
IDBI Bank Limited |
Red Cross Building , 3rd floor, 1, Red Cross Road, New Delhi, Delhi -
110001, INDIA |
C03593936 |
|
36 |
90063339 |
20/12/2004 |
160,000,000.00 |
PEPSICO INDIA HOLDINGS PRIVATE LIMITED |
3 B; DLF CORPORATE PARK, `S' BLOCK; QUTAB ENCLSE; PHASE-III, GURGAON,
Haryana - 122002, INDIA |
- |
|
37 |
90062972 |
28/10/2003 |
10,000,000.00 |
PEPSICO INDIA HOLDINGS PVT. LTD. |
3 B; DLF CORPORATE PARK, S; BLOCK; PHASE-III; QUTUB ENCLAVE, GURGAON,
Haryana, INDIA |
- |
|
38 |
90062760 |
01/05/2014 * |
900,000,000.00 |
HDFC BANK LIMITED |
SENAPATI BAPAT MARG, LOWER PAREL W MUMBAI, Maharashtra - 400013, INDIA
|
C04007183 |
|
39 |
90062469 |
01/03/2002 |
10,000,000.00 |
PEPSICO INDIA HOLDINGS PRIVATE LIMITED |
3 B, DLF CORPORATE PARK; ``S'' BLOCK; QUTAB ENCLAVE, GURGAON, Haryana,
INDIA |
- |
|
40 |
90061493 |
14/09/1998 |
152,700,000.00 |
PEPSICO INDIA HOLDINGS LIMITED |
3-B, S-BLOCK; DLF CORPORATE PARK, GURGAON, Haryana, INDIA |
- |
* Date of charge modification
REVIEW OF
OPERATIONS
During the year the Company has achieved a total revenue and other income of Rs.17643.880 million as against Rs. 14979.470 million during the previous year, thereby registering a growth of 17.79%. During the year, the Company has incurred a loss after tax of Rs. 85.440 million as against a profit after tax of Rs. 299.000 million in the previous year due to increase in depreciation and financial cost.
FIXED ASSETS
œ Land
œ Buildings
œ Plant and Equipment
œ Furniture and Fixtures
œ Vehicles
œ Office Equipment
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.61.11 |
|
|
1 |
Rs.102.53 |
|
Euro |
1 |
Rs.81.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.