MIRA
INFORM REPORT
|
Report Date : |
27.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
PARLE AGRO PRIVATE LIMITED (w.e.f.16.04.2001) |
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Formerly Known
As : |
PARLE AGRO LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
26.12.1985 |
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Com. Reg. No.: |
11-038459 |
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Capital
Investment / Paid-up Capital : |
Rs. 82.000
Millions |
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CIN No.: [Company Identification
No.] |
U15130MH1985PTC038459 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM19663A |
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PAN No.: [Permanent Account No.] |
AAACP8416G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Distributor of Fruit Beverages, Packaged Drinking Water, PET Preforms, Caps, Handles, Confectionery and Snacks Food Items. |
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No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (59) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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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 a well-established and reputed company having fine track
record. The company possesses a favourable financial position marked by decent
networth. However the management has reported a loss from its operations
during 2013. The ratings also take into consideration the massive project expansion
and foray into carbonated beverages category, due to which the company
requires funds which has further increased its reliance an external funding
to meet its incremental working capital as well as other requirements. However, trade relations are fair. Business is active. Payment terms
are reported as regular and as per commitments. In view of long standing experience of the promoters and its
established brand image and market position, the subject can be considered
for business dealing 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.
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 that 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 DECLINED
|
Name : |
Mr. Sunil Nair |
|
Designation : |
Senior Finance Manager |
|
Contact No.: |
91-22-66935025 |
|
Date : |
26.08.2014 |
LOCATIONS
|
Registered / Head / Corporate Office : |
Western Express Highway, Andheri (East), Mumbai – 400099,
Maharashtra, India |
|
Tel. No.: |
91-22-66935025/ 32/ 66931921/ 24/ 65185761/ 67348000 |
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Fax No.: |
91-22-66935050 |
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E-Mail : |
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Website: |
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Factories : |
Located at: Beverages [Own] · Ghaziabad Varanasi Bhopal Patalganga Hyderabad Khordha Chennai Beverages
[Franchise] · Ambala Alwar Nepal Ranchi Kolkata Guwahati Bailley [Franchise] · Ambala Haryana Noida Lucknow Jaipur Kathmandu Gandhinagar Ahmedabad Mumbai Patalganga Solapur Goa Yavatmal Hyderabad Bengaluru Chitoor Chennai Aluva Tamil
Nadu Bhubaneswar Kolkata Ranchi Guwahati Snacks · Rudrapur Delhi Vatwa,
Ahmedabad Hydrabad |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Prakash Jayantilal Chauhan |
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Designation : |
Whole Time Director |
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Address : |
Shanti Kunj, 47 Tejpal Road, Vile Parle (East), Mumbai - 400057, Maharashtra, India |
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Date of Birth/Age : |
16.12.1946 |
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Qualification : |
Electron Technology Programme – RCA Institute (USA) BSC. in Business Administration – Boston University USA |
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Date of Appointment : |
26.12.1985 |
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PAN No. : |
AAIPC2975J |
|
00078739 |
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Name : |
Mrs. Schauna Chauhan Bikramjeet Saluja |
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Designation : |
Whole Time Director |
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Address : |
2901, A Wing, 29th Floor, Oberoi Sky Heights, Lokhandwala, Andheri (West), Mumbai - 400052, Maharashtra, India |
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Date of Birth/Age : |
02.08.1976 |
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Qualification : |
BBA International Management in Business School of Lausanne, Switzerland |
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Date of Appointment : |
30.09.1999 |
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PAN No. : |
ADBPC2995C |
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DIN No.: |
00078965 |
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Name : |
Mrs. Alisha Chauhan Riyhad Kundanmal |
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Designation : |
Director |
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Address : |
1401/ 1402, Hicons Classic, CTS F/ 125, New Galita, TPS IV, 21st Road, Khar (West), Mumbai – 400052, Maharashtra, India |
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Date of Birth/Age : |
14.09.1978 |
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Qualification : |
Bachelor of Commerce, Bachelor of Economics, BBA |
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Date of Appointment : |
15.09.2010 |
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PAN No. : |
AERPC6469G |
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DIN No.: |
00079033 |
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Name : |
Mrs. Nadia Chauhan Kurup |
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Designation : |
Managing Director |
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Address : |
Anand, 13th Floor, Plot, No.424, Chitrkar Dhurandhar Marg, Khar (West), Mumbai - 400052, Maharashtra, India. |
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Date of Birth/Age : |
08.01.1986 |
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Qualification : |
Bachelor of Commerce |
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Date of Appointment : |
29.09.2006 |
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PAN No. : |
AEVPC0282P |
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DIN No.: |
00850166 |
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Name : |
Mr. Chandraprakash Dilbahadur Sood |
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Designation : |
Director |
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Address : |
Plot No.110, Flat No.9, Uma Kunj, Behind Pratap Society, Four Bunglows, Andheri (West), Mumbai – 400053, Maharashtra, India |
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Date of Birth/Age : |
16.07.1957 |
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Date of Appointment : |
15.02.2007 |
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PAN No. : |
AAOPS7138R |
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DIN No.: |
01214816 |
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Name : |
Mr. Ashok Purshottam Bhave |
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Designation : |
Director and Head Technical |
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Address : |
27-C, Prem Varsha Parsiwada, Sahar Road, Andheri (East), Mumbai - 400099, Maharashtra, India |
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Date of Birth/Age : |
05.10.1948 |
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Qualification : |
M.E., Ministry of Transport |
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Date of Appointment : |
22.12.2008 |
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PAN No. : |
ABPPB0380A |
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DIN No.: |
02480658 |
KEY EXECUTIVES
|
Name : |
Mr. Sunil Nair |
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Designation : |
Senior Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Prakash Jayahntilal Chauhan |
817000 |
99.63 |
|
Schauhna Chauhan Saluja |
1000 |
0.12 |
|
Alisha Chauhan Kundanmal |
1000 |
0.12 |
|
Nadia Chauhan Kurup |
1000 |
0.12 |
|
|
|
|
|
Total |
820000 |
100.00 |
AS ON 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Distributor of Fruit Beverages, Packaged Drinking Water, PET Preforms, Caps, Handles, Confectionery and Snacks Food Items. |
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Products / Services : |
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GENERAL INFORMATION
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No. of Employees : |
Information declined by management |
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Bankers : |
· The Federal Bank Limited Corporate Banking
Branch, Express Towers, Ground Floor, Nariman Point, Mumbai - 400021,
Maharashtra, India Canara
Bank Vile Parle Branch,
Mumbai, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
--- |
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Financial Institution : |
· Tetra-Pak India Private Limited Mayfair Towers, Ground Floor, Wakdewadi, Shivajina Gar, Pune - 411005, Maharashtra - 411005, India. |
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Auditors : |
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Name : |
Deloitte Haskins and Sells, Chartered Accountants |
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Address : |
Tower 3, 27th – 32nd Floor,
Indiabulls Finance Centre, Elphinstone Mills Compound, Senapati Bapat Marg,
Elphinstone (West), Mumbai – 400013 Maharashtra, India |
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PAN No.: |
AACFD4815A |
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Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives |
·
Creativeland Asia Private Limited
[U92100MH2007PTC171741] Creativeland
Pictures Private Limited [U74940MH2010PTC199477] Creativeland
Advertising Private Limited [U74990MH2009PTC194432] |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.100/- each |
Rs.150.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
820000 |
Equity Shares |
Rs.100/-
each |
Rs.82.000
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
82.000 |
82.000 |
2.000 |
|
(b) Reserves & Surplus |
2870.914 |
3080.347 |
2807.013 |
|
(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) |
2952.914 |
3162.347 |
2809.013 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
948.433 |
31.000 |
130.600 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
70.121 |
56.498 |
50.326 |
|
Total Non-current Liabilities (3) |
1018.554 |
87.498 |
180.926 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1501.100 |
263.798 |
1191.150 |
|
(b) Trade payables |
1173.313 |
814.805 |
677.993 |
|
(c) Other current
liabilities |
462.429 |
374.691 |
421.605 |
|
(d) Short-term provisions |
77.392 |
48.062 |
30.458 |
|
Total Current Liabilities (4) |
3214.234 |
1501.356 |
2321.206 |
|
|
|
|
|
|
TOTAL |
7185.702 |
4751.201 |
5311.145 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1893.687 |
1682.581 |
1707.603 |
|
(ii) Intangible Assets |
17.012 |
12.983 |
6.971 |
|
(iii) Capital
work-in-progress |
735.354 |
110.186 |
118.031 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
16.222 |
731.065 |
17.960 |
|
(c) Deferred tax assets (net) |
86.770 |
91.887 |
62.716 |
|
(d) Long-term Loan and Advances |
497.895 |
312.959 |
235.728 |
|
(e) Other Non-current assets |
11.442 |
11.224 |
13.039 |
|
Total Non-Current Assets |
3258.382 |
2952.885 |
2162.048 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
1512.661 |
0.000 |
1221.581 |
|
(b) Inventories |
1862.924 |
1350.508 |
1492.305 |
|
(c) Trade receivables |
259.101 |
205.487 |
208.832 |
|
(d) Cash and cash
equivalents |
63.606 |
50.359 |
48.657 |
|
(e) Short-term loans and advances |
225.027 |
188.009 |
174.394 |
|
(f) Other current assets |
4.001 |
3.953 |
3.328 |
|
Total Current Assets |
3927.320 |
1798.316 |
3149.097 |
|
|
|
|
|
|
TOTAL |
7185.702 |
4751.201 |
5311.145 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
9408.227 |
7904.530 |
6899.673 |
|
|
|
Other Income |
46.359 |
147.974 |
112.144 |
|
|
|
TOTAL (A) |
9454.586 |
8052.504 |
7011.817 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
9180.113 |
7309.791 |
6484.542 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
274.473 |
742.713 |
527.275 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
105.573 |
93.797 |
92.265 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
168.900 |
648.916 |
435.010 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
372.223 |
367.134 |
336.207 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(203.323) |
281.782 |
98.803 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.110 |
8.448 |
7.211 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(209.433) |
273.334 |
91.592 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1459.745 |
1186.411 |
1094.819 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1250.312 |
1459.745 |
1186.411 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
225.924 |
282.288 |
205.279 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw and packing materials |
118.760 |
94.124 |
101.894 |
|
|
|
Components and Spare Parts |
8.557 |
14.538 |
6.734 |
|
|
|
Capital Goods |
198.577 |
31.209 |
77.261 |
|
|
TOTAL IMPORTS |
325.894 |
139.871 |
185.889 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
(225.41) |
6530.04 |
4580.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(2.22) |
3.39 |
1.31 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(2.16) |
3.56 |
1.43 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.20) |
7.38 |
1.93 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.07) |
0.09 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.83 |
0.09 |
0.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22 |
1.20 |
1.36 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
2.000 |
82.000 |
82.000 |
|
Reserves & Surplus |
2807.013 |
3080.347 |
2870.914 |
|
Net
worth |
2809.013 |
3162.347 |
2952.914 |
|
|
|
|
|
|
long-term borrowings |
130.600 |
31.000 |
948.433 |
|
Short term borrowings |
1191.150 |
263.798 |
1501.100 |
|
Total
borrowings |
1321.750 |
294.798 |
2449.533 |
|
Debt/Equity
ratio |
0.471 |
0.093 |
0.830 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
6899.673 |
7904.530 |
9408.227 |
|
|
|
14.564 |
19.023 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
6899.673 |
7904.530 |
9408.227 |
|
Profit |
91.592 |
273.334 |
(209.433) |
|
|
1.33% |
3.46% |
(2.23%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
||
|
Current maturities of long-term debt |
105.167 |
97.100 |
106.100 |
|
|
|
|
|
|
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 |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
LITIGATION DETAILS
|
Case Details Bench:- Bombay |
||||
|
Presentation Date: 09.01.2014 |
||||
|
Lodging No. : |
ARBPL/23/2014 |
Filing Date:- |
09/01/2014 |
|
|
|
||||
|
Petitioner:- |
GRISHI MANGO PRODUCTS AND EXPORTS |
Respondent:- |
PARLE AGRO PRIVATE LIMITED |
|
|
Petn.Adv:- |
Dominic G Rodrigues (I4200) |
|
|
|
|
District:- |
OUTSIDE MAHARASHTRA |
|||
|
|
||||
|
Bench:- |
Single |
|
|
|
|
Status:- |
Pre-Admission |
Category:- |
ARBITRATION ACT. |
|
|
Last Date: |
06.05.2014 |
Stage: |
FOR REJECTION [ORIGINAL SIDE MATTERS] |
|
|
Last Coram: |
REGISTRAR(OS)/PROTHONOTARY & SR. MASTER |
|||
|
Act. : |
Arbitration and Conciliation Act 1996 |
Under Section: 34 |
||
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10477539 |
18/01/2014 |
250,000,000.00 |
THE FEDERAL BANK
LIMITED |
CORPORATE
BANKING BRANCH, EXPRESS TOWERS, GROUND |
B96344205 |
|
2 |
10465361 |
25/03/2014 * |
300,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL |
C03884418 |
|
3 |
10428938 |
03/05/2013 |
300,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B76208479 |
|
4 |
10145416 |
16/01/2009 |
53,765,056.00 |
TETRA-PAK INDIA
PRIVATE LIMITED |
MAYFAIR TOWERS,GROUND
FLOOR,WAKDEWADI, SHIVAJINAGAR, PUNE-411005, MAHARASHTRA - 411005, INDIA |
A57785628 |
|
5 |
10145417 |
16/01/2009 |
49,697,438.00 |
TETRA-PAK INDIA
PRIVATE LIMITED |
MAYFAIR TOWERS,GROUND
FLOOR,WAKDEWADI, SHIVAJINAGAR, PUNE-411005, MAHARASHTRA - 411005, INDIA |
A57786725 |
|
6 |
10093570 |
20/03/2013 * |
200,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DR. |
B74386830 |
|
7 |
10022858 |
13/10/2006 |
23,890,863.00 |
TETRA-PAK INDIA
PRIVATE LIMITED |
MAYFAIR
TOWERS,GROUND FLOOR,WAKDEWADI, SHIVAJINAGAR, PUNE-411005, MAHARASHTRA -
411005, INDIA |
A05582309 |
|
8 |
90187032 |
03/12/2003 |
3,168,745.00 |
PARLE AGRO
PRIVATE LIMITED |
WESTERN EXPRESS
HIGH WAY, ANDHERI, MUMBAI, MAHARASHTRA, INDIA |
- |
|
9 |
90186963 |
30/11/2002 |
1,600,000.00 |
PARLE AGRO
PRIVATE LIMITED |
WESTERN EXPRESS HIGH
WAY, ANDHERI, MUMBAI, MAHARASHTRA, INDIA |
- |
* Date of charge modification
OPERATIONS:
The Company has registered sales turnover of Rs. 9408.227 Millions as against Rs. 7904.530 Millions in the previous year registering a growth of 19.02%. The Company has recorded profit before tax of Rs. (203.323) Millions as against Rs. 281.782 Millions in the previous year.
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
132.600 |
0.000 |
|
Short-term borrowings |
|
|
|
Loans repayable on demand from banks |
100.000 |
0.000 |
|
Deposits |
0.000 |
80.877 |
|
Loans and advances from related parties |
16.224 |
0.000 |
|
|
|
|
|
Total |
248.824 |
80.877 |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
a) Liability in respect of letter of credit discounted
with banks |
11.515 |
0.000 |
|
b) Disputed income tax liability (including interest
thereon) |
53.878 |
52.393 |
|
c) Disputed sales tax liability |
2.746 |
3.948 |
|
d) Disputed excise duty |
0.000 |
0.000 |
|
Future cash outflows in respect of above matters are determinable only on receipt of judgments/decisions pending at various forums/authorities. |
16.393 |
16.393 |
FIXED ASSETS
· Land
Buildings
Factory
building
Plant
and equipment
Factory
equipments
Other
plant and equipment
Furniture
and fixtures
Vehicles
Office
equipment
Computer
equipments
Other
equipments
Other
equipments
PRESS RELEASES
PARLE AGRO TARGETS RS 10000.0000 MILLIONS
SALES FROM CAFE CUBA
Apr 17, 2014
NEW DELHI: FMCG firm Parle Agro is all set for
a full-fledged re-entry into the carbonated soft drinks market in India with
its latest brand, Cafe Cuba from which it expects Rs 10000.000 Millions
sales in the next 12-14 months.
After test marketing
the brand for a few months last year, the company said it expects the Cafe Cuba
to be one of its largest brand in the next couple of years.
Cafe Cuba, a coffee
carbonated product, is the first product from Parle Agro in the carbonated soft
drinks space after it sold its popular and iconic soft drink brands -- Thums
Up, Limca, Gold Spot and Citra – to-Coca-Cola in 1993.
"We used a few
months of last year to test market the brand and be ready for the peak summer
season. About 60-65 per cent of beverage sales happen in summers. We are
looking at Rs 10000.000 Millions turnover from Cafe Cuba in the next 12-14
months," Parle Agro JMD and CMO Nadia Chauhan
Kurup told PTI.
When asked if the
company has set very ambitious target, Kurup said: "Carbonated soft drinks
category is Rs 300000.000-350000.000 Millions in size so a percentage Rs
10000.000 Millions (from Cafe Cuba) is very small. We believe it is aggressive
but achievable target.
"We have spent
last couple of years to scale up our infrastructure, mainly distribution and
re-equipping the manufacturing plants, to allow us to achieve our sales
target," she added.
The company, which
expects Cafe Cuba to be one its top seller products in the coming years, is
also looking at rolling the product outside India.
"Cafe Cuba will
be one of our largest brand in the next couple of years. We also feel there is
very high opportunity to drive this brand globally. Once we settle the brand in
the India, We will start with global expansion. This will happen over the next
6 to 18 months," Kurup said.
The company which
reported turnover of Rs 25000.000 Millions in fiscal 2013-14 is targeting 40
per cent increase in turnover at Rs 35000.000 Millions this fiscal.
PARLE AGRO MARKS
ANOTHER FIRST WITH THE INTRODUCTION OF REVOLUTIONARY 'BOTTLE PACK'
Mumbai, 5 September,
2013
Parle Agro, a pioneer in the Indian beverage industry is associated with many firsts that have changed the dynamics of the industry. Known for innovative packaging formats, Parle Agro is all set to raise the bar higher with the launch of its Frooti and Appy beverages in unique Tetra Brik Aseptic 250ml Edge paper-based cartons. Aptly called bottle packs, the cartons offer a perfect blend of the functionality of a bottle and the benefits of carton packaging. This differentiated SKU will revolutionize the way Frooti and Appy are consumed in India.
Joining hands with Tetra Pak, the world leader in food processing and packaging solutions, Parle Agro will be setting new standards globally. The company’s vision in creating the 250ml ‘bottle pack’ is to complete its Tetra Pak packaging portfolio so as to provide wholesome beverage offerings at various price points to customers. The bottle pack’s superior ‘gulp-from’ or ‘pour-from’ experience along with a fully re-sealable screwcap makes for a refreshing, hassle-free and convenient consumer option.
Commenting on the launch, Ms. Nadia Chauhan, Joint Managing Director and Chief Marketing Officer Parle Agro said, “We take immense pride in being trendsetters in the beverage industry in India. Today, being the first ones to introduce Frooti and Appy in 250ml bottle packs in the entire world will further strengthen our Tetra Pak leadership in the category.”
Tetra Pak South Asia Markets Managing Director Kandarp Singh said, “The introduction of the Tetra Brik Aseptic 250ml Edge cartons (bottle pack) in the country marks the growing need for innovative packaging solutions that offer convenience and a superior drinking experience. We are proud to build on our partnership with Parle Agro and are certain that the new packaging format will help strengthen the positioning of their brands.”
Parle Agro has been one of the largest customers for Tetra Pak in India since the world leader introduced paper-based aseptic carton packaging in the country and enjoys a market share of 66% in the Still Drinks category in Tetra Pak packaging. Pioneering in the introduction of new packaging formats in the market, Parle Agro had in 2004 adopted the Tetra Classic Aseptic carton for its Frooti brand.
The Tetra Brik Aseptic 250ml Edge (bottle pack) is a true value-for-money offering. Beverages are aseptically packaged in 6-layer tamper-evident Tetra Pak packaging, which protects the beverage from oxygen, light and bacterial spoilage, giving it a longer shelf life. The sleek and fun package offers convenience, safety, hygiene, easy handling and easy disposal after use. Being paper-based, the packages are 100% recyclable and can be recycled into several products including stationary and furniture.
The 250ml Frooti and Appy ‘bottle packs’ are primarily targeted towards on-the-go drinkers. The new pack is priced at Rs 15 and will be launched in Delhi, Haryana, Punjab, Rajasthan and Jammu and Kashmir. It will soon be made available pan-India. Consumers will now have the comfort to choose from various paper-based Tetra Pak packaging options at price points such as Rs 5, Rs 10, Rs 12 to Rs 15.
"RESEARCH JUST
TELLS YOU WHAT YOU WANT TO HEAR": NADIA CHAUHAN, PARLE AGRO
October 08, 2013
Parle Agro has announced its re-entry into the carbonated soft drinks category with Café Cuba, a coffee-based beverage. We spoke to joint MD and CMO, Nadia Chauhan, about the what, how and why of this move.
Food and beverage player (F&B) Parle Agro has introduced a segment called 'coffee rush' within the carbonated soft drinks (CSD) category, with the launch of Café Cuba, a coffee-flavoured beverage priced at Rs 20. A few minutes into my conversation with Nadia Chauhan, joint managing director and chief marketing officer, Parle Agro, three things became clear.
One: This carbonated coffee drink is not about to compete with the Coca-Colas and Pepsis in the CSD market. Two: No formal research was done before its launch. Three: Chauhan's fascinated by how the industry is busy analysing this move. On count number three, afaqs! is guilty.
League of its own
"It is not a cola," says a soft-spoken yet firm voiced Chauhan, admitting that prior to the launch of Café Cuba, her team was afraid it would be called 'a cola brand'. This launch marks the company's re-entry into the CSD segment, 20 years after the group sold its soft drinks portfolio comprising Limca, Gold Spot, Citra and Thums Up (which continues to be the largest selling cola brand in the country), among other brands, to Coca-Cola for Rs 1800.000 Millions.
"When I joined the organisation, I remember talking to journalists, almost all of whom would ask 'Will you return to colas?' Back then, I said we would come back into the CSD space but not through a cola," says Chauhan.
We wonder whether the creation of 'coffee rush', a self-contained category within the CSD zone, has anything to do with the fierce, pre-existing competition in the cola segment. "If you are a tea, chocolate or caramel product, would you like to be called a cola? So, when you're a coffee product, why would you want to be called anything other than that?" Chauhan counter questions, insisting it has nothing to do with competition.
Rather, it has to do with making sure consumers are clear about what the product is. "Chances are, the only 'black liquid drink' people have ever seen has always been a cola. So we need to ensure people don't mistake it for one," she elaborates. The CSD industry -- the largest category within the Indian beverage industry -- is where Chauhan expects the largest set of conversions to come from.
Observation over
research
No structured, documented research was done prior to the launch of Café Cuba. "As an organisation, none of our launches has been an outcome of research. Research just tells you what you want to hear! You're taking consumers out of their natural environment and grilling them to give you the answers you want to hear," says Chauhan. So then, sans research, how did she know the market was ready for a product like this?
The answer lies in informally observing and mingling with the TG. "Today, even at my position, I travel around and spend a lot of time in the market. As a culture, we ensure that those even remotely related to marketing/sales spend a bare minimum number of days in the market. For instance, we give a group of collegians a new beverage and just drink with them, listen to them, chill with them, feel with them and just be one of them," she says, citing this technique as her gateway to the mind of the Indian consumer. And interestingly, it includes more than just observing members of the TG; her team also listens in on what retailers, salespersons and other middlemen handling the brand have to say.
"We've been getting a lot of people to try it and respond to it. The product has been at my house far before we even did the test launch. I'd see how people who come over react to it; that was my research," she adds about her unconventional ways.
This is how Chauhan can state with confidence that over the years, the market has opened up. "Over the years, we've seen a lot of flavours beyond the traditional ones (namely, mango in non-CSD and colas in CSD) starting to come up," she says. Carbonated apple drink, Appy Fizz, with a 100 per cent YOY growth rate, is testament to this. In fact, in several markets such as South India, Appy Fizz is doing even better than the company's mango-based beverage, Frooti.
Speaking of Southern consumers, any apprehensions that a carbonated coffee beverage could be seen as a brand 'messing around' with their favourite beverage? "It's not meant to replace or compete with hot coffee," Chauhan answers, insisting it is meant to deliver what a carbonated soft drink does, thereby ruling out existing milk-based cold coffee drinks as competition.
In fact," she adds, citing the example of toffee brand Coffy Bite, "since people in the South are passionate about coffee, having a product with coffee at the core is a big opportunity for us in this market."
TG Psychographics
Positioned as a 'powerful, bold, on-the-go refresher' meant for impulsive consumption, Café Cuba targets consumers between 18-30 years, who have "more evolved tastes". Does this mean people who are well-travelled, open to experimenting or those who come from wealth? Chauhan tells us that around seven to ten years ago, while this description may have been the answer, it is not the case today.
"Today when we talk about those with 'evolved tastes', we're simply referring to people who're looking to try something new. And the proportion of this kind of consumer has increased tremendously of late. In fact, this is the reason behind the success of a lot of new products in the F&B segment," Chauhan says, citing the example of Hippo, Parle Agro's baked wheat snack brand, launched in 2008.
PARLE AGRO RE-ENTERS
FIZZY DRINKS MARKET
September 24,
2013
New coffee-flavoured
product, Café Cuba, to hit market next year
Two decades after selling its popular soft drink brands, Parle Agro is re-entering the carbonated soft drink (CSD) segment with its new coffee-flavored fizzy drink, Café Cuba.
Unveiling the product here on Tuesday, Prakash Chauhan, Chairman and Managing Director, Parle Agro, said the sweetened carbonated beverage in a coffee flavour would be `the first of its kind’ in India. ``We wanted to create a unique product that would be well differentiated in the market,” he pointed out
Two decades
The Mumbai-headquartered company today makes Frooti, Appy, Appy Fizz, baked snacks, toffees and Bailley packaged drinking water, and has a turnover of Rs. 20000.000 Millions. It had sold its iconic soft drink brands namely Thums Up, Limca, Gold Spot and Citra, to Coca-Cola over two decades ago. Mr. Chauhan said Café Cuba would be launched nationally next January-February.
A diet version could follow soon, he added. “We are targeting a turnover of Rs. 10000.000 Millions in the first 12-18 months after launch. We will consider exporting the product once it is established here. We expect to have a significant presence in the Rs. 150000.000 Millions CSD segment in India,’’ he said,
The product will be launched in cans priced at Rs. 20 for a 250 ml pack, and in PET bottles at Rs. 15 for a 250 ml pack.
Nadia Chauhan, Joint Managing Director and Chief Marketing Officer, Parle Agro, said Café Cuba would target consumers in the 17-30 years age group, which accounted for more than 70 per cent of CSD consumption in the country.
She said Parle Agro aimed to more than double its turnover to Rs. 50000.000 Millions by 2015 largely on the back of Café Cuba. ``While the coffee flavour is currently imported, it will get indianised over time,” she added.
Capacity increased
The company will make Café Cuba across all its 14 factories, and has increased capacity by 60 per cent over the last few years, investing around Rs. 1500.000 Millions. It will also expand its distribution network from 800,000 outlets to 1.5 million outlets. “About Rs. 1000.000 Millions went into Café Cuba capacity creation of around 3 million units,” Ms Chauhan said, adding that the company would deploy around Rs. 500.000 Millions for the marketing campaign.
SHAHRUKH KHAN TO
ENDORSE PARLE AGRO’S FROOTI BRAND
New Delhi: As the heat intensifies, this summer is about to get a whole lot fresher ‘n’ juicier with King Khan joining forces with the King of Fruits in Frooti’s brand new television commercial. Known for its clutter-breaking commercials involving pranks and reality shows, Frooti has changed the game yet again by bringing superstar Shahrukh Khan on board as its Brand Ambassador.
Never before in the history of Frooti has the brand taken on a celebrity endorsement with such magnanimous popularity and appeal. In a collaboration that seems like it was destined to be, SRK’s larger than life ‘King Khan’ persona blends seamlessly with the yummy mango’s King of Fruits status.
Proud to be associated with the 27 years old brand, Frooti, superstar Shahrukh Khan said, “It’s an absolute honour to be associated with an Indian company of the stature of Parle Agro. And I’m delighted to be the face of Frooti, the mango drink that the entire nation has always been fond of. There’s hardly any brand that conjures up so much joy, so much desire and so much magic around it like Frooti does. I feel really good about this association and I hope you enjoy watching the ad as much as I enjoyed being a part of it.”
Conceptualised and crafted by Creativeland Asia, Parle Agro’s communication partner, the brand’s TV commercial revolves around the magic of fresh ‘n’ juicy mangoes, their mouth-watering deliciousness and the innocent child-like desire for them. At a time when beverages in this segment are busy wooing viewers with seductive commercials, Frooti has Shahrukh take audiences back to the simple joys of enjoying the pure, fresh ‘n’ juicy taste of mangoes on a hot summer’s day.
During the ad shoot, we see our favourite Bollywood star not only singing to Frooti tunes and being his young playful self, but also enjoying himself with the kidson the set. This humble and down to earth persona is what truly makes him the King of Bollywood.So when this scorching summer gets a bit too much to take, beat the heat in the royal Company of King Khan and the King of Mangoes with a fresh ‘n’ juicy Frooti.
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. 60.50 |
|
|
1 |
Rs. 100.33 |
|
Euro |
1 |
Rs. 79.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
59 |
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.