MIRA
INFORM REPORT
|
Report Date : |
09.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
YAKULT DANONE INDIA PRIVATE LIMITED |
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Registered Office : |
52-Okhla Industrial Estate, Phase – III, New Delhi-110020 |
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Country : |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
26.10.2005 |
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Com. Reg. No.: |
55-142154 |
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CIN No.: [Company
Identification No.] |
U15209DL2005PTC142154 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELY00691F |
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PAN No.: [Permanent
Account No.] |
AAACY2585R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Milk Products. |
RATING & COMMENTS
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MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Maximum Credit Limit : |
USD 4900000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The company has incurred a loss from its operations during 2014.
However, the company is operating on its owned funds. Trade relations are fair. Business is active. Payments are reported as
slow but correct. The company can be considered for business dealings with some
cautions. |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
|
A1 |
A1 |
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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 |
EXTERNAL AGENCY RATING
Not Available
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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
Management non- co-operative (91-11-40626262/40626299)
LOCATIONS
|
Registered Office/ Corporate Office : |
52-Okhla Industrial Estate, Phase – III, New Delhi-110020, |
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Tel. No.: |
91-11-40626262 |
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Fax No.: |
91-11-40626200 |
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E-Mail : |
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Website : |
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Corporate Office : |
206, Chintels Business Centre, A-11, Kailash Colony, New Delhi-110048,
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Tel. No.: |
91-11-41734840/ 2 |
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Fax No.: |
91-11-41784848 |
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Factory : |
402-405 and 410-413, |
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Branches : |
Located at: ·
·
Gurgaon ·
Noida ·
·
Jaipur |
DIRECTORS
As on 24.09.2014
|
Name : |
Mr. Minoru Shimada |
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Designation : |
Director |
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Address : |
J -38, First Floor, Saket, New Delhi-110017, |
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Date of Appointment : |
06.12.2012 |
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DIN No.: |
05307868 |
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Name : |
Mr. Yoshihiro Kawabata |
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Designation : |
Director |
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Address : |
201-4-3-2, Omorikita, Otaku-1430016, |
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Date of Birth/Age : |
05.01.1949 |
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Date of Appointment : |
25.11.2008 |
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DIN No.: |
02437777 |
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Name : |
Mr. Nobuhito Taniguchi |
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Designation : |
Director |
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Date of Appointment : |
05.09.2012 |
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DIN No.: |
06380434 |
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Name : |
Mr. Sunder Ramchandran Kollangudraman |
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Designation : |
Director |
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Date of Birth/Age : |
12.02.1969 |
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Date of Appointment : |
28.02.2014 |
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DIN No.: |
05217770 |
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Name : |
Mr. Tomoyuki Iwama |
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Designation : |
Director |
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Address : |
B-406, First Floor, New Friends Colony, New Delhi-110020, |
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Date of Birth/Age : |
03.04.1966 |
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Date of Appointment : |
31.08.2007 |
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DIN No.: |
01803705 |
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Name : |
Mr. |
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Designation : |
Director |
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Date of Birth/Age : |
22.07.1977 |
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Date of Appointment : |
28.02.2014 |
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DIN No.: |
03553705 |
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Name : |
Mr. Marcel Mathieu Marie Bertaud |
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Designation : |
Director |
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Date of Appointment : |
12.09.2006 |
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DIN No.: |
00754738 |
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Name : |
Mr. Richard Colchester Hall |
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Designation : |
Director |
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Date of Birth/Age : |
10.09.1967 |
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Date of Appointment : |
28.02.2014 |
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DIN No.: |
06823651 |
KEY EXECUTIVES
|
Name : |
Ms. Vidhi Sharma |
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Designation : |
Secretary |
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PAN No.: |
DAFPS8623R |
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Date of Appointment : |
27.08.2014 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.09.2014
|
Names of Shareholders |
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No. of Shares |
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Yakult Honsha Company Limited, |
|
1320 |
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Danone Probiotics PTE Limited, |
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1320 |
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Total |
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2640 |
Equity Share Breakup (Percentage of Total Equity)
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Category |
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Percentage of
Holding |
|
Foreign holdings (Foreign institutional investor(s), Foreign companie(s)
Foreign financial institution(s), Non-resident indian(s) or overseas
corporate bodies or others) |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Milk Products. |
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Products : |
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Brand Names : |
--- |
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Agencies Held : |
--- |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
GENERAL INFORMATION
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Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
Not Divulged |
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Bankers : |
Not Divulged |
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Facilities : |
--- |
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Auditors : |
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Name : |
S R B C and company LLP Chartered Accountant |
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Address : |
Golf View Corporate, |
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PAN No.: |
ACHFS9117R |
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Joint venture : |
·
Yakult Honsha Company Limited, ·
Danone Probiotics PTE Limited, |
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Associates : |
·
Danone Foods and Beverages India Private Limited CIN No.: U15200HR1996PTC041692 |
CAPITAL STRUCTURE
As on 24.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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2640 |
Equity Shares |
Rs. 100000/- |
Rs.264.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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2640 |
Equity Shares |
Rs. 100000/- |
Rs.264.000 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 |
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(1)Shareholders' Funds |
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(a) Share Capital |
264.000 |
104.000 |
104.000 |
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(b) Reserves & Surplus |
1455.296 |
292.937 |
632.855 |
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(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
1719.296 |
396.937 |
736.855 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
3.379 |
3.629 |
3.879 |
|
(d) long-term provisions |
7.770 |
7.509 |
5.087 |
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Total Non-current
Liabilities (3) |
11.149 |
11.138 |
8.966 |
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(4) Current Liabilities |
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(a) Short term
borrowings |
0.000 |
507.000 |
218.500 |
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(b) Trade payables |
61.223 |
57.331 |
36.751 |
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(c) Other current
liabilities |
6.875 |
13.954 |
11.862 |
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(d) Short-term provisions |
45.496 |
0.495 |
0.097 |
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Total Current Liabilities
(4) |
113.594 |
578.780 |
267.210 |
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TOTAL |
1844.039 |
986.855 |
1013.031 |
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II. ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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(i) Tangible assets |
841.137 |
862.184 |
899.626 |
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(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
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(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
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(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
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(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
25.529 |
18.174 |
19.049 |
|
(e) Other Non-current
assets |
0.210 |
0.145 |
0.137 |
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Total Non-Current Assets |
866.876 |
880.503 |
918.812 |
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(2) Current assets |
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(a) Current investments |
0.000 |
0.000 |
0.000 |
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(b) Inventories |
25.518 |
25.512 |
22.173 |
|
(c) Trade receivables |
24.980 |
20.539 |
16.099 |
|
(d) Cash and cash
equivalents |
896.013 |
45.107 |
43.146 |
|
(e) Short-term loans
and advances |
9.642 |
10.729 |
11.695 |
|
(f) Other current
assets |
21.010 |
4.465 |
1.106 |
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Total Current Assets |
977.163 |
106.352 |
94.219 |
|
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|
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TOTAL |
1844.039 |
986.855 |
1013.031 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
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SALES |
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Income |
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Other Income |
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TOTAL (A) |
367.436 |
251.633 |
169.060 |
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Less |
EXPENSES |
|
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Consumption of material |
92.224 |
73.831 |
46.732 |
|
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Decrease/ (increase) in Stock |
(1.058) |
(1.408) |
0.000 |
|
|
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Salaries, Wages and Allowances |
134.518 |
128.904 |
103.787 |
|
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Advertisement and Sales Promotion Expenses |
106.072 |
109.965 |
249.185 |
|
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Other expense |
231.210 |
219.126 |
(1.737) |
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TOTAL (B) |
562.966 |
530.418 |
397.967 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(195.530) |
(278.785) |
(228.907) |
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Less |
FINANCIAL
EXPENSES (D) |
27.449 |
3.732 |
6.740 |
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(222.979) |
(282.517) |
(235.647) |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
54.662 |
57.400 |
56.445 |
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PROFIT / LOSS
FOR THE YEAR |
(277.641) |
(339.917) |
(292.092) |
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Earnings Per
Share (Rs.) |
(105167.045) |
--- |
--- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(75.56) |
(135.08) |
(172.77) |
|
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Operating Profit Margin (PBDIT/Sales) |
(%) |
(53.21) |
(110.79) |
(135.40) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(15.06) |
(34.44) |
(28.83) |
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Return on Investment (ROI) (PBT/Networth) |
|
(0.16) |
(0.86) |
(0.40) |
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Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
1.28 |
0.30 |
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|
Current Ratio (Current Asset/Current Liability) |
|
8.60 |
0.18 |
0.35 |
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 |
104.000 |
104.000 |
264.000 |
|
Reserves & Surplus |
632.855 |
292.937 |
1455.296 |
|
Net
worth |
736.855 |
396.937 |
1719.296 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
218.500 |
507.000 |
0.000 |
|
Total
borrowings |
218.500 |
507.000 |
0.000 |
|
Debt/Equity
ratio |
0.297 |
1.277 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
169.060 |
251.633 |
367.436 |
|
|
|
48.842 |
46.021 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
169.060 |
251.633 |
367.436 |
|
Profit |
(292.092) |
(339.917) |
(277.641) |
|
|
(172.77%) |
(135.08%) |
(75.56%) |
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 |
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 |
--------- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOAN
(Rs.
In Millions)
|
UNSECURED LOAN |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
Short Term
Borrowing |
|
|
|
Term loans from bank |
0.000 |
507.000 |
|
Total |
0.000 |
507.000 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or investigation
registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.92 |
|
|
1 |
Rs.96.37 |
|
Euro |
1 |
Rs.76.10 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
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Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
DEFAULTER
|
|
|
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--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.