MIRA INFORM REPORT
|
Report Date : |
21.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
RECKITT BENCKISER HEALTHCARE INDIA LIMITED (w.e.f. 12.06.2012) |
|
|
|
|
Formerly Known
As : |
PARAS PHARMACEUTICALS LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 48, Institutional Area, Sector-32,
Gurgaon-122001, Haryana |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2012 |
|
|
|
|
Date of
Incorporation : |
27.11.1980 |
|
|
|
|
Com. Reg. No.: |
05-044172 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 90.909 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231HR1980PLC044172 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP9268J |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Pharmaceutical Products and Bulk Drugs. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
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 |
|
Maximum Credit Limit : |
USD 114980000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track record. Net worth of the company is good. Financial position of the company is sound. Fundamentals are strong and
healthy. No borrowings recorded by the company. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital
firms in India during 2013, registering a drop of about 18 % over the previous
year. The Information Technology and IT-Enabled Services Industry
retained its status as the favourable venture capital investors in 2013. Pakistan
has temporarily banned gold imports for the second time in six months, as it
tries to stem smuggling into India. India’s import duty on gold is 10 % and
curbs on purchases have dried up legal imports into what used to be the world’s
biggest bullion buyers. The World Gold Council puts the amount smuggled into
India at upto 200 tonnes in 2013. The Reserve Bank of India has proposed that
unclaimed bank deposits estimated to be about Rs 35000 mn be used for education
and awareness among depositors. According to the plan, deposits that have
not been claimed for at least 10 years will be transferred to the scheme.
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
31-03-2012.
INFORMATION DECLINED
MANAGEMENT NON-CCOPERATIVE (Tel. No.: 91-124-4028000)
LOCATIONS
|
Registered Office : |
Plot No. 48, Institutional Area, Sector – 32, Gurgaon –
122001, Haryana, India |
|
Tel. No.: |
91-124-4028000/ 3319000 |
|
Fax No.: |
91-124-4340110 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
“Paras House”, 6-B, Sattar Taluka Society, Near Navjinva
Press, Ashram Road, Ahmedabad - 380014, Gujarat, India |
|
Tel. No.: |
91-79-27544475/ 27544484 |
|
Fax No.: |
91-79-27544485 |
|
|
|
|
Factory 1 : |
Plot 1/7, GIDC Estate, Kalol, District Mehsana, |
|
|
|
|
Factory 2: |
701, 534, Baddi Nalagarh Road, Post Office Baddi, Village Sandholi,
Baddi - 173205, Himachal Pradesh, India |
|
Tel. No.: |
91-1795-245572 / 245573 |
DIRECTORS
As on 28.06.2013
|
Name : |
Mr. Chander Mohan Sethi |
|
Designation : |
Additional Director |
|
Address : |
302-B, Court Greens, Laburnum Condominium Complex, Sushant Lok-I,
Gurgaon - 122002, Haryana, India |
|
Date of Birth/Age : |
08.03.1949 |
|
Qualification : |
MBA |
|
Date of Appointment : |
11.04.2011 |
|
DIN No.: |
00319297 |
|
|
|
|
Name : |
Mr. Akhil Chandra |
|
Designation : |
Managing director |
|
Address : |
502-A, Aralias, DLF Golf Course, Gurgaon - 122002, Haryana, India |
|
Date of Birth/Age : |
15.08.1964 |
|
Qualification : |
Economics (Hons), MBA |
|
Date of Appointment : |
15.11.2012 |
|
DIN No. : |
06418791 |
|
|
|
|
Name : |
Mr. Gopal Mishra |
|
Designation : |
Director |
|
Address : |
Flat No.1702, JMD Garden, Sector-33, Sohna Roiad, Gurgaon, Haryana,
India |
|
Date of Birth/Age : |
28.01.1972 |
|
Qualification : |
B Tech (Hons) Mechanical Engineering, MBA Finance |
|
Date of Appointment : |
15.11.2012 |
|
DIN No. : |
06418731 |
|
|
|
|
Name : |
Mr. Rajesh Kumar Jha |
|
Designation : |
Director |
|
Address : |
C-3, 3164, Vasant Kunj, New Delhi - 110070, India |
|
Date of Birth/Age : |
30.06.1968 |
|
Qualification : |
LLB |
|
Date of Appointment : |
31.01.2013 |
|
DIN No. : |
02695721 |
|
|
|
|
Name : |
Grant Drew Allen |
|
Designation : |
Director |
|
Address : |
Flat No. 314C, Tower 3, Central Park-II, Sohna Road, Gurgaon - 122103,
Haryana, India |
|
Date of Birth/Age : |
26.07.1962 |
|
Date of Appointment : |
10.05.2013 |
|
DIN No. : |
06577220 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.06.2013
|
Names of Shareholders |
|
No. of Shares |
|
Reckitt Benckiser (Singapore) Pte. Limited, Singapore |
|
6694206 |
|
Reckitt Benckiser (India) Limited, India |
|
2396694 |
|
R and C Nominees Limited, Berkshire * |
|
10 |
|
Chander Mohan Sethi |
|
1 |
|
Parag Agarwal |
|
1 |
|
Suvamoy Roy Chowdhary |
|
1 |
|
Ajay Thukral |
|
1 |
|
Rajesh Kumar Jha |
|
1 |
|
Saarita William |
|
1 |
|
Total |
|
9090916 |
Note:
*Declaration under Section187 C of the Companies Act, 1956 received that the beneficial holding in these 10 Shares vests with Reckitt Benckiser (Singapore) Pte. Limited.
As on 28.06.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
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 |
73.64 |
|
Bodies corporate |
26.36 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Pharmaceutical Products and Bulk Drugs. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed Capacity |
Actual Production |
|
Ointment/ Cream |
M. Ton |
3000 |
2038 |
|
Powder |
M. Ton |
1800 |
1769 |
|
Liquid |
000 Liters |
5400 |
827 |
|
Tablets |
Million |
810 |
209 |
NOTES:
a)
Licensed Capacity not
being applicable has not been indicated.
b)
Installed capacity has
been certified by the company, this being a technical matter.
c)
Quantity in metric tones
unless otherwise stated. Quantity for tables and liquid stated in millions and
‘000 liters respectively.
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
· IDBI Bank Limited, Idbi Complex, Opposite Municipal Staff Quarters, Near Lal Bunglow, Off. C.G. Road, Ahmedabad - 380006, Gujarat, India · Industrial Development Bank of India Limited, Idbi Towerwtc Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
Building 8, 7th and 8th Floor, Tower B, DLF Cyber City, Gurgaon - 122002, Haryana, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAEFP3641G |
|
|
|
|
Holding Company: |
Reckitt Benckiser Singapore Pte. Limited |
|
|
|
|
Subsidiary: |
· Paras Inc. USA · Paras (Bangladesh) Private Limited · Paras Overseas Holdings Limited · Paras Global FZE |
|
|
|
|
Fellow Subsidiary
Company: |
· Reckitt Benckiser France SAS · Reckitt Benckiser Espana S.L. · Reckitt Benckiser Magyarorszag Kft. · Reckitt Benckiser Nordic A/S · Reckitt Benckiser (Belgium) SA/NV · Reckitt Benckiser Deutschland GmbH · Reckitt Benckiser Healthcare ItaliaSpA · Reckitt Benckiser Healthcare Mfg.(Thailand) Limited · SSL Manufacturing (Thailand) Limited · Quingdao Newbridge holding China · Reckitt Benckiser (Bangladesh) Limited · Reckitt Benckiser South Africa (Pty) Limited · Reckitt Benckiser Pakistan Limited · Reckitt and Colman Limited · Reckitt and Colman Corporate Services Limited · Reckitt Benckiser Healthcare Manufacturing (UK) Limited · Reckitt Benckiser (India) Limited CIN No.: U74999DL1951PLC127062 · Reckitt Benckiser Arabia FZE (UAE) · Paras Global FZE(UAE) |
CAPITAL STRUCTURE
As on 28.06.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35000000 |
Equity Shares |
Rs.10/- each |
Rs.350.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9090916 |
Equity Shares |
Rs.10/- each |
Rs.90.909 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.12.2012 (12 Months) |
31.12.2011 (9 Months) |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
90.909 |
90.909 |
|
(b) Reserves & Surplus |
|
28,654.119 |
34,284.798 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
28,745.028 |
34,375.707 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
273.232 |
346.717 |
|
Total Non-current
Liabilities (3) |
|
273.232 |
346.717 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
0.000 |
0.000 |
|
(b) Trade
payables |
|
793.132 |
990.265 |
|
(c) Other current
liabilities |
|
102.592 |
47.174 |
|
(d) Short-term
provisions |
|
174.528 |
569.498 |
|
Total Current
Liabilities (4) |
|
1,070.252 |
1,606.937 |
|
|
|
|
|
|
TOTAL |
|
30,088.512 |
36,329.361 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
1,102.993 |
542.631 |
|
(ii)
Intangible Assets |
|
26,478.024 |
32,652.531 |
|
(iii)
Capital work-in-progress |
|
65.148 |
159.616 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
106.508 |
106.508 |
|
(c) Deferred tax assets (net) |
|
104.126 |
91.034 |
|
(d) Long-term Loan and Advances |
|
23.767 |
76.282 |
|
(e) Other
Non-current assets |
|
1.712 |
1.712 |
|
Total Non-Current
Assets |
|
27,882.278 |
33,630.314 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
237.035 |
134.250 |
|
(c) Trade
receivables |
|
563.583 |
677.206 |
|
(d) Cash
and cash equivalents |
|
1,212.471 |
1,788.440 |
|
(e)
Short-term loans and advances |
|
188.607 |
79.781 |
|
(f) Other
current assets |
|
4.538 |
19.370 |
|
Total
Current Assets |
|
2,206.234 |
2,699.047 |
|
|
|
|
|
|
TOTAL |
|
30,088.512 |
36,329.361 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
90.515 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
1284.259 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1374.774 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
2.593 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1377.367 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
716.019 |
|
|
Capital work-in-progress |
|
|
13.593 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
481.714 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
356.481
|
|
|
Sundry Debtors |
|
|
120.883
|
|
|
Cash & Bank Balances |
|
|
88.381
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
157.779
|
|
Total
Current Assets |
|
|
723.524
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
356.079
|
|
|
Other Current Liabilities |
|
|
80.275
|
|
|
Provisions |
|
|
121.129
|
|
Total
Current Liabilities |
|
|
557.483
|
|
|
Net Current Assets |
|
|
166.041
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1377.367 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 (12 Months) |
31.12.2011 (9 Months) |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3713.133 |
3806.686 |
4670.548 |
|
|
|
Other Income |
297.778 |
90.738 |
149.085 |
|
|
|
TOTAL (A) |
4010.911 |
3897.424 |
4819.633 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1024.310 |
737.668 |
938.399 |
|
|
|
Purchases of stock-in-trade |
238.128 |
668.530 |
759.236 |
|
|
|
Employee benefit expense |
140.438 |
211.419 |
297.590 |
|
|
|
Other expenses |
1042.627 |
1298.448 |
1458.441 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(11.950) |
186.933 |
(28.547) |
|
|
|
Exceptional items |
0.000 |
138.346 |
0.000 |
|
|
|
TOTAL (B) |
2433.553 |
3241.344 |
3425.119 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1577.358 |
656.080 |
1394.514 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.079 |
0.574 |
1.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1577.279 |
655.506 |
1393.314 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
129.296 |
90.802 |
125.617 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1447.983 |
564.704 |
1267.697 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
244.435 |
209.481 |
258.343 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1203.548 |
355.223 |
1009.354 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
252.024 |
282.450 |
219.892 |
|
|
TOTAL EARNINGS |
252.024 |
282.450 |
219.892 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
132.39 |
38.46 |
111.51 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 (12 Months) |
31.12.2011 (9 Months) |
31.03.2011 |
|
PAT / Total Income |
(%) |
30.01
|
9.11 |
20.94 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
39.00
|
14.83 |
27.14 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.86
|
1.57 |
88.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.02 |
0.92 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.06
|
1.68 |
1.30 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
90.909 |
90.909 |
|
Reserves & Surplus |
34284.798 |
28654.119 |
|
Net
worth |
34,375.707 |
28,745.028 |
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.12.2011 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
4670.548 |
3806.686 |
3713.133 |
|
|
|
(18.496) |
(2.458) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.12.2011 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
4670.548 |
3806.686 |
3713.133 |
|
Profit |
1009.354 |
355.223 |
1203.548 |
|
|
21.61% |
9.33% |
32.41% |
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 |
Yes |
|
24] |
Banking facility details |
No |
|
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 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
NATURE OF OPERATIONS
The Company is Fast Moving Consumer Goods (‘FMCG’) Company having household brands in the Healthcare and Personal Care product categories.
PERFORMANCE:
Net revenue from operations for the year ended December 31, 2012 stood at Rs. 3713.100 Millions. Export sales were Rs. 212.800 Millions. The profit before tax stood at Rs.1448.000 Millions and the profit after tax stood at Rs. 1203.500 Millions.
FIXED ASSETS
v
Tangible
Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Motor Vehicles
· Computer Equipments
v
Intangible
Assets
· Goodwill
· Computer Software
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.62.28 |
|
|
1 |
Rs.103.84 |
|
Euro |
1 |
Rs.85.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
66 |
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.