MIRA
INFORM REPORT
|
Report Date : |
22.08.2014 |
IDENTIFICATION DETAILS
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Name : |
CCL PRODUCTS ( |
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Registered
Office : |
Duggirala, |
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Country : |
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Financials (as on)
: |
31.03.2014 |
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Date of
Incorporation : |
22.03.1961 |
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Com. Reg. No.: |
01-000874 |
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Capital
Investment / Paid-up Capital : |
Rs.266.056 Millions |
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CIN No.: [Company Identification
No.] |
L15110AP1961PLC000874 |
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Legal Form : |
A Public Limited Liability company. The company’s Shares are Listed on
the Stock Exchanges. |
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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. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 14000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having good track record. Fundamentals of the company is decent. Financial position of the
company is strong and healthy. Directors are reported to be well experienced and
respectable businessmen. Trade relations reported to be fair. Business is active. Payment terms
are reported to be regular and as per commitment. The company can be considered normal 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
FITCH |
|
Rating |
Long term issuer rating = A |
|
Rating Explanation |
Adequate degree of safety and low credit risk |
|
Date |
08.08.2013 |
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 DENIED BY
Management Non-Cooperative
Tel. No.: 91-8644-277294
LOCATIONS
|
Registered Office/ Factory : |
Duggirala, Guntur - 522330, Andhra Pradesh, India |
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Tel. No.: |
91-8644-277294/ 277296 |
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Fax No.: |
91-8644-277295 |
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E-Mail : |
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Website : |
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Area : |
2500 Sq ft |
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Location : |
Owned |
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Corporate Office : |
7-1-24/2/D, Greendale, Ameerpet, Hyderabad - 500016, Andhra Pradesh,
India |
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Tel. No.: |
91-40-23732455 |
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Fax No.: |
91-40-23732499 |
DIRECTORS
As on: 31.03.2014
|
Name : |
Mr. Challa Rajendra Prasad |
|
Designation : |
Chairman and Managing Director |
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Date of Birth/Age : |
61 Years |
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Qualification : |
B.E. (Mech.) |
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Experience : |
38 Years |
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|
Name : |
Mr. Zafar Saifullah |
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Designation : |
Director |
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Date of Birth/Age : |
24.04.1936 |
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Other Directorship : |
· Metrail India (Private) Limited · Good Earth Mining (Private) Limited · Shankara Pipes (India) Limited · Carf Pharma Private Limited |
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Name : |
Mr. J. Rambabu |
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Designation : |
Director |
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Name : |
Mr. I. J. Rao |
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Designation : |
Director |
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Name : |
Mr. K. Chandrahas |
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Designation : |
Director |
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Name : |
Mr. Jonathan T. Feuer |
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Designation : |
Director |
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Date of Birth/Age : |
22.11.1951 |
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Name : |
Mr. Vipin K. Singal |
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Designation : |
Director |
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Name : |
Mr. K. K. Sarma |
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Designation : |
Additional Director (w.e.f. 03.07.2013) |
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Name : |
Mr. B. Mohan Krishna |
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Designation : |
Additional Director (w.e.f. 03.07.2013) |
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Name : |
Mr. Challa Srishant |
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Designation : |
Executive Director |
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Date of Birth/Age : |
30 Years |
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Qualification : |
B.A., B.L (Hons.) |
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Experience : |
9 Years |
KEY EXECUTIVES
|
Name : |
Mr. K.V.L.N. Sarma |
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Designation : |
Chief Financial Officer |
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Name : |
Ms. Sridevi Dasari |
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Designation : |
Company Secretary and Compliance Officer |
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Audit Committee : |
· Mr. K. Chandrahas - Chairman · Mr. Zafar Saifullah · Mr. I. J. Rao · Mr. Vipin K. Singal ·
Mr. J. Rambabu ·
Mr. K. K. Sarma ·
Mr. B. Moahan Krishna |
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|
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Shareholders
Relationship Committee : |
· Mr. I. J. Rao - Chairman · Mr. Zafar Saifullah · Mr. Vipin K. Singal · Mr. K. Chandrahas · Mr. J. Rambabu ·
Mr. K. K. Sarma · Mr. B. Moahan Krishna |
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|
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Nomination and Remuneration Committee : |
· Mr. I. J. Rao - Chairman · Mr. Zafar Saifullah · Mr. Vipin K. Singal · Mr. K. Chandrahas · Mr. J. Rambabu ·
Mr. K. K. Sarma · Mr. B. Moahan Krishna |
|
Corporate Social Responsibility Committee
: |
· Mr. I. J. Rao - Chairman · Mr. Zafar Saifullah · Mr. Vipin K. Singal · Mr. K. Chandrahas · Mr. J. Rambabu ·
Mr. K. K. Sarma · Mr. B. Moahan Krishna · Mr. Challa Srishant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.06.2014
|
Category of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
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|
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|
48238353 |
36.26 |
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|
48238353 |
36.26 |
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|
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|
11010890 |
8.28 |
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|
11010890 |
8.28 |
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Total shareholding of Promoter and Promoter Group (A) |
59249243 |
44.54 |
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(B) Public Shareholding |
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|
|
|
|
|
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|
12054954 |
9.06 |
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|
131508 |
0.10 |
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|
6308 |
0.00 |
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|
12192770 |
9.17 |
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|
|
|
|
|
10366522 |
7.79 |
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|
|
|
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|
17899131 |
13.46 |
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|
15601956 |
11.73 |
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|
17718298 |
13.32 |
|
|
10442282 |
7.85 |
|
|
5828620 |
4.38 |
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|
1443396 |
1.09 |
|
|
4000 |
0.00 |
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|
61585907 |
46.30 |
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Total Public shareholding (B) |
73778677 |
55.46 |
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Total (A)+(B) |
133027920 |
100.00 |
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(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
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|
0 |
0.00 |
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|
0 |
0.00 |
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|
0 |
0.00 |
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Total (A)+(B)+(C) |
133027920 |
0.00 |
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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. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
·
ICICI Bank Limited ·
State Bank of India ·
State Bank of Hyderabad ·
Kotak Mahindra Bank Limited |
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Facilities : |
(Rs.
In Millions)
Notes: LONG-TERM
BORROWINGS a) Details of
security: The Term Loan of Kotak Mahindra Bank Ltd is secured by First Charge on the Fixed Assets and second charge on the current assets of the company, along with the personal guarantee of Mr.C.Rajendra Prasad (Executive Chairman). The Buyer’s Credit of Rs. 4468.300 Millions from Yes Bank Limited is secured by exclusive charge on the asset purchased along with personal guarantee of Mr.C.Rajendra Prasad (Executive Chairman). The Buyer’s Credit is repayable in single instalment in 2015-16. SHORT-TERM
BORROWINGS a) 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 current assets and second paripassu charge on fixed assets of the company. |
|
Banking Relations
: |
-- |
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Auditors : |
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Name : |
M. Anandam and Company Chartered Accountant |
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Address : |
7 ‘A ’, Surya Towers, Sardar Patel Road, Secunderabad – 500 003,
Andhra Pradesh, India |
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Internal Auditors : |
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|
Ramesh and Company Chartered Accountant |
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Address : |
H. No: 6-3-661/B/1 Sangeeth Nagar, Somajiguda, Hyderabad – 500 082,
Andhra Pradesh, India |
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Secretarial
Auditors : |
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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 |
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Subsidiary
Companies : |
· Jayanti Pte Limited, Singapore, (Subsidiary of CCL Products (India) Limited - India) · Grandsaugreen SA, Switzerland (Subsidiary of Jayanti Pte. Limited, Singapore) · Ngon Coffee Company Limited, Vietnam (Subsidiary of Jayanti Pte. Limited, Singapore) |
CAPITAL STRUCTURE
As on: 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000000 |
Equity Shares |
Rs.02/- each |
Rs.300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
133027920 |
Equity Shares |
Rs.02/- each |
Rs.266.056 Millions |
|
|
|
|
|
Details of
shareholders holding more than 5% shares :
|
|
No. of shares |
% Holding |
|
Challa Rajendra Prasad |
7641960 |
5.74 % |
|
Challa Shantha Prasad |
18140000 |
13.64% |
|
Challa Srishant |
8450893 |
6.35% |
|
Challa Soumya |
14003500 |
10.53% |
|
Sudha Koneru |
11010890 |
8.28% |
|
Reliance Capital Trustee Company Limited |
12719350 |
9.56% |
Reconciliation of
Number of Shares
|
|
2014 |
|
Balance at the beginning of the year (Face Value of 10/- each) |
13302792 |
|
|
|
|
Add: Fresh allotment of shares/adjustment for sub-division of shares during the year (i) Addition on account of sub-division of shares of 10/- face value into shares of 2/- face value (on 21st August, 2013) |
53211168 |
|
(ii)
Bonus Shares issued during the year |
66513960 |
|
Balance at the end of the year |
133027920 |
Rights attached to
equity shares
The Company has only one class of equity shares having a face value of Rs.02 /- each (Previous Year Rs. 10/-) 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 |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
266.056 |
133.028 |
133.028 |
|
(b) Reserves & Surplus |
3278.734 |
2865.947 |
2397.348 |
|
(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) |
3544.790 |
2998.975 |
2530.376 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
44.683 |
156.521 |
52.188 |
|
(b) Deferred tax liabilities (Net) |
233.225 |
228.749 |
216.889 |
|
(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) |
277.908 |
385.270 |
269.077 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
1054.768 |
1228.929 |
1254.098 |
|
(b) Trade payables |
169.664 |
250.859 |
174.829 |
|
(c) Other current liabilities |
193.881 |
206.239 |
243.582 |
|
(d) Short-term provisions |
214.572 |
78.939 |
79.601 |
|
Total Current
Liabilities (4) |
1632.885 |
1764.966 |
1752.110 |
|
|
|
|
|
|
TOTAL |
5455.583 |
5149.211 |
4551.563 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1747.701 |
1807.630 |
2139.591 |
|
(ii) Intangible Assets |
2.065 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
2.267 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1386.229 |
800.407 |
375.540 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
27.294 |
291.565 |
31.562 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
3163.289 |
2899.602 |
2548.960 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1138.485 |
1256.064 |
1073.629 |
|
(c) Trade receivables |
744.829 |
717.585 |
662.219 |
|
(d) Cash and cash equivalents |
49.849 |
24.000 |
43.573 |
|
(e) Short-term loans and advances |
355.153 |
249.221 |
218.624 |
|
(f) Other current assets |
3.978 |
2.739 |
4.558 |
|
Total Current
Assets |
2292.294 |
2249.609 |
2002.603 |
|
|
|
|
|
|
TOTAL |
5455.583 |
5149.211 |
4551.563 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
6110.959 |
5848.252 |
4897.312 |
|
|
|
Other Income |
9.119 |
14.177 |
9.479 |
|
|
|
TOTAL (A) |
6120.078 |
5862.429 |
4906.791 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
3572.519 |
3532.451 |
2955.179 |
|
|
|
Changes in inventories |
(20.731) |
(3.827) |
50.320 |
|
|
|
Employee benefits expense |
218.700 |
174.735 |
130.997 |
|
|
|
Other expenses |
1065.068 |
1072.331 |
952.787 |
|
|
|
TOTAL (B) |
4835.556 |
4775.690 |
4089.283 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1284.522 |
1086.739 |
817.508 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
72.818 |
119.621 |
115.569 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1211.704 |
967.118 |
701.939 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
129.650 |
158.755 |
158.515 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1082.054 |
808.363 |
543.424 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
349.476 |
262.460 |
178.095 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
732.578 |
545.903 |
365.329 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
450.800 |
282.200 |
94.200 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Provision for dividend |
159.634 |
66.500 |
66.500 |
|
|
|
Short provision for Income Tax earlier |
0.000 |
0.000 |
0.000 |
|
|
|
Provision for dividend tax |
27.130 |
10.800 |
10.800 |
|
|
|
Transfer to General Reserve |
300.000 |
300.000 |
100.000 |
|
|
BALANCE CARRIED
TO THE B/S |
696.614 |
450.800 |
282.200 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
5571.831 |
5287.440 |
4618.555 |
|
|
|
Dividend |
1.560 |
1.076 |
1.327 |
|
|
TOTAL EARNINGS |
5573.391 |
5288.516 |
4619.882 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2607.054 |
3007.184 |
2211.493 |
|
|
|
Component and Spares part |
54.616 |
32.947 |
45.786 |
|
|
|
Capital Goods |
44.200 |
55.693 |
9.158 |
|
|
TOTAL IMPORTS |
2705.87 |
3095.824 |
2266.437 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.51 |
41.04 |
27.46 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
11.97 |
9.31 |
7.45 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
17.71 |
13.82 |
11.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
26.59 |
18.59 |
13.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31 |
0.27 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.31 |
0.46 |
0.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.40 |
1.27 |
1.14 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
133.028 |
133.028 |
266.056 |
|
Reserves & Surplus |
2397.348 |
2865.947 |
3278.734 |
|
Net
worth |
2530.376 |
2998.975 |
3544.790 |
|
|
|
|
|
|
long-term borrowings |
52.188 |
156.521 |
44.683 |
|
Short term borrowings |
1254.098 |
1228.929 |
1054.768 |
|
Total
borrowings |
1306.286 |
1385.450 |
1099.451 |
|
Debt/Equity
ratio |
0.516 |
0.462 |
0.310 |
YEAR-ON-YEAR GROWTH
%20LIMITED%20-%20281875%2022-Aug-2014_files/image008.gif)
NET PROFIT MARGIN
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
4897.312 |
5848.252 |
6110.959 |
|
|
|
19.418 |
4.492 |
%20LIMITED%20-%20281875%2022-Aug-2014_files/image010.gif)
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
4897.312 |
5848.252 |
6110.959 |
|
Profit |
415.649 |
545.903 |
732.578 |
|
|
8.49% |
9.33% |
11.99% |
%20LIMITED%20-%20281875%2022-Aug-2014_files/image012.gif)
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 |
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 |
Yes |
|||
|
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 13,808 M.Ts. and 13,840 M.Ts. as against 13,045 M.Ts. and 13,003 M.Ts. respectively in the preceding year. Turnover of the Company has increased from 5848.200 Millions to 6111.000 Millions 545.900 Millions and the net profit of the company increased from Rs. 545.900 Millions to 732.600 Millions registering a growth of 34%.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
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 also made a successful entry in the Freeze- Dried Coffee segment. Now, it is focusing to make a mark in the Indian domestic market which is very 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. Presently your Company is providing more than 70 varieties and blends of coffee to its customers.
The expanded capacity of the plant at Duggirala in Guntur District of Andhra Pradesh and also the multidimensional presence of the company will help cater to the increased demand for instant coffee in International markets.
During the year the sales of our Company grew from 5848.200 Millions to 6111.000 Millions. The Net Profit is at Rs. 732.600 Millions as against Rs. 545.900 Millions during the preceding financial 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. Consumption of instant coffee is more predominant in East, West and Northern regions of India.
The instant coffee sector outlook is bright as consumers increasingly value instant coffee’s simplicity of preparation.
CONTINGENT
LIABILITIES
(Rs. In Millions)
|
Particular |
31.03.2014 |
31.03.2013 |
|
(A) Claims against
the company/ disputed liabilities not acknowledged as debts : |
|
|
|
- Income Tax |
-- |
195.054 |
|
- Excise & Customs |
3.176 |
3.176 |
|
- Service Tax |
55.066 |
55.066 |
|
(B) Guarantees |
|
|
|
- Bank Guarantees (includes Corporate Guarantees) |
1887.484 |
1636.902 |
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- 400021, MAHARASHTRA, 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-
500082, |
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. 60.76 |
|
|
1 |
Rs. 100.72 |
|
Euro |
1 |
Rs. 80.55 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
ASH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.