MIRA INFORM REPORT
|
Report Date : |
26.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
ALLIED BLENDERS AND DISTILLERS PRIVATE LIMITED (w.e.f.30.04.2010) |
|
|
|
|
Formerly Known
As : |
MOONLIGHT BLENDERS AND DISTILLERS PRIVATE LIMITED (w.e.f.22.07.2009) YOU AND ME PROPERTIES PRIVATE LIMITED |
|
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|
|
Registered
Office : |
394-C, Lamington Chambers, Lamington Road, Mumbai – 400004,
Maharashtra |
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|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
08.10.2008 |
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|
|
|
Com. Reg. No.: |
11-187368 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 447.800
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15511MH2008PTC187368 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA31012C |
|
|
|
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PAN No.: [Permanent Account No.] |
AAACY3846K |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Trader of Alcoholic Beverages. |
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|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6570000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having satisfactory track record. Overall financial position of the company is decent. However, trade relations are reported to be fair. Business is active.
Payments are reported to be usually correct. The company can be considered normal 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
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term Bank facilities : BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
October 10, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term Bank facilities : A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
October 10, 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Atil Dalal |
|
Designation : |
Vice President in Finance |
|
Contact No.: |
91-22-43001119 |
|
Date : |
24.02.2014 |
LOCATIONS
|
Registered Office : |
394-C, Lamington
Chambers, Lamington Road, Mumbai – 400004, Maharashtra, India |
|
Tel. No.: |
91-22-67779777 |
|
Fax No.: |
91-22-67779725 |
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E-Mail : |
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|
Website : |
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|
Corporate/ Marketing Office : |
Ashford Centre,
3rd and 4th Floor, Shankarrao Naram Marg, Lower Parel (West), Mumbai –
400013, Maharashtra, India |
|
Tel. No.: |
91-22-43001111 |
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Fax No.: |
91-22-43001116 |
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E-Mail : |
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Exports/ CSD Office : |
Plot No. 774, 4th
Floor, Udyog Vihar, Phase V, Gurgaon - 122015, Haryana, India |
|
Tel. No.: |
91-124-4210061/ 62 |
|
Fax No.: |
91-124-4210063 |
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|
|
|
Delhi Regional Sales Office : |
A 61/5, G. T.
Karnal Road, Industrial Area, Azadpur, Delhi – 110033, India |
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Factory : |
Located at: · Aurangabad |
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|
Other Sales Offices : |
Located at: North ·
Gurgaon ·
Chandigarh · Ludhiana · Jaipur · Dehradun East ·
Kolkata ·
Guwahati · Bhubaneswar ·
Patna South ·
Hyderabad · Bangalore ·
Chennai West ·
Mumbai · Bhopal |
DIRECTORS
AS ON 26.09.2013
|
Name : |
Mr. Kishore Rajaram Chhabria |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
111, Casa Grande, Little Gibbs, Road No. 2, Malabar Hills, Mumbai –
400006, Maharashtra, India |
|
Date of Birth/Age : |
12.01.1954 |
|
Date of Appointment : |
18.03.2010 |
|
DIN No.: |
00243244 |
|
|
|
|
Name : |
Mrs. Bina Kishore Chhabria |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
111, Casa Grande, Little Gibbs, Road No. 2, Malabar Hills, Mumbai –
400006, Maharashtra, India |
|
Date of Birth/Age : |
10.01.1957 |
|
Date of Appointment : |
18.03.2010 |
|
DIN No.: |
00243376 |
|
|
|
|
Name : |
Mr. Utpal Kumar Ganguli |
|
Designation : |
Additional director |
|
Address : |
14, Southend Park, Kolkata, West Bengal, India |
|
Date of Birth/Age : |
14.04.1945 |
|
Date of Appointment : |
18.03.2010 |
|
PAN No.: |
AARPG4164A |
|
DIN No.: |
00067083 |
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|
|
|
Name : |
Mr. Deepak Roy |
|
Designation : |
Additional director |
|
Address : |
11, Rambha, 66, Nepeansea Road, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
25.12.1951 |
|
Date of Appointment : |
18.03.2010 |
|
DIN No.: |
00178236 |
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|
|
|
Name : |
Mr. Jeetendra Amar Hemdev |
|
Designation : |
Additional director |
|
Address : |
Palm Aprings, 14th Floor, Flat No.3, Cuffe Parade, Colaba, Mumbai -
400005, Maharashtra, India |
|
Date of Birth/Age : |
02.11.1973 |
|
Date of Appointment : |
28.01.2014 |
|
DIN No.: |
01501189 |
KEY EXECUTIVES
|
Name : |
Mr. Atil Dalad |
|
Designation : |
Vice President in Finance |
|
|
|
|
Name : |
Mr. Ratan Lal Jain |
|
Designation : |
Secretary |
|
Address : |
403, Dhanlaxmi, RDP-2, VER-10, S.V.P. Road, Versova, 4-Bungalows,
Andheri (West), Mumbai – 400058, Maharashtra, India |
|
Date of Birth/Age : |
25.04.1955 |
|
Date of Appointment : |
30.03.2010 |
|
PAN No.: |
ACEPJ1448H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2013
|
Names of Equity Shareholders |
|
No. of Shares |
|
BKC Enterprises Private Limited, India |
|
9364000 |
|
Bina Chhabria Enterprises Private Limited, India |
|
177 |
|
Officers Choice Spirits Private Limited, India |
|
323 |
|
Deepak Roy |
|
415500 |
|
|
|
|
|
Total |
|
9780000 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
BKC Enterprises Private Limited, India |
|
34972031 |
|
Bina Chhabria Enterprises Private Limited, India |
|
27969 |
|
|
|
|
|
Total |
|
35000000 |
AS ON 26.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
95.75 |
|
Directors
or relatives of directors |
4.25 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Alcoholic Beverages. |
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Products/ Services : |
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Brand Name : |
“Officer’s Choice” |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
· ICICI Bank Limited Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India · Axis Bank Limited Corporate Banking Branch, Ground Floor, Axis House, Bombay Dyeing Mills Compound, P. B. Marg, Worli, Mumbai - 400025, Maharashtra, India · State Bank of Travancore 112-115 Tulsiani Chambers, 212 Free Press Journal Marg, Nariman Point, Mumbai - 400021, Maharashtra, India · State Bank of Mauritius · Punjab National Bank · Andhra Bank · Bank of Baroda · Bank of India · Bank of Maharashtra · Canara Bank · Central Bank of India · Punjab and Sind Bank · State Bank Bikaner Jaipur · State Bank of Hyderabad · State Bank of India · United Bank of India · UCO Bank · Vijaya Bank · Yes Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Ford, Rhodes, Parks And Company Chartered Accountants |
|
Address : |
Sai Commercial Building, 312/313, 3rd Floor, BKS Devishi
Marg, Govandi (East), Mumbai - 400088, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFF1843L |
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|
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|
Holding company
: |
BKC Enterprises Private Limited [U45202MH2009PTC194091] |
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|
Fellow
Subsidiary company : |
Tracstar Investments Private Limited (TRF.) [U67120MH1988PTC159991] |
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Joint venture : |
Henkell And Company India Private Limited [U15549MH2006PTC166229] |
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|
Enterprises
which are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
· Marengo Investment And Trading Company Private Limited [U65990MH1997PTC111982] · Oriental Radios Private Limited [U32200MH1938PTC002773] · Starvoice Properties Private Limited [U70100MH2002PTC135761] |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,110,000 |
Equity Shares |
Rs. 10/- each |
Rs. 101.100 Millions |
|
35,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 350.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 451.100
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9,780,000 |
Equity Shares |
Rs. 10/- each |
Rs. 97.800
Millions |
|
35,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 350.000
Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 447.800 Millions |
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 |
447.800 |
437.800 |
437.800 |
|
(b) Reserves & Surplus |
1,195.052 |
1,022.380 |
975.158 |
|
(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) |
1,642.852 |
1,460.180 |
1,412.958 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1,171.416 |
475.363 |
399.244 |
|
(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 |
95.036 |
63.231 |
62.264 |
|
Total
Non-current Liabilities (3) |
1,266.452 |
538.594 |
461.508 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
1,481.121 |
1,497.659 |
1,075.832 |
|
(b)
Trade payables |
483.864 |
505.443 |
505.516 |
|
(c)
Other current liabilities |
737.971 |
561.600 |
328.037 |
|
(d)
Short-term provisions |
31.011 |
21.396 |
25.113 |
|
Total
Current Liabilities (4) |
2,733.967 |
2,586.098 |
1,934.498 |
|
|
|
|
|
|
TOTAL |
5,643.271 |
4,584.872 |
3,808.964 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1,579.762 |
1,617.743 |
1,593.861 |
|
(ii)
Intangible Assets |
2.340 |
1.669 |
1.366 |
|
(iii)
Capital work-in-progress |
62.780 |
47.392 |
35.088 |
|
(iv) Intangible assets under development |
21.109 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
77.921 |
58.921 |
38.220 |
|
(c) Deferred tax assets
(net) |
52.738 |
44.984 |
15.529 |
|
(d) Long-term Loan
and Advances |
516.339 |
59.453 |
52.586 |
|
(e)
Other Non-current assets |
30.371 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
2,343.360 |
1,830.162 |
1,736.650 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
235.126 |
336.218 |
175.680 |
|
(c)
Trade receivables |
870.985 |
911.995 |
536.982 |
|
(d)
Cash and cash equivalents |
120.657 |
109.906 |
98.880 |
|
(e)
Short-term loans and advances |
1,990.160 |
1,288.394 |
1,177.510 |
|
(f)
Other current assets |
82.983 |
108.197 |
83.262 |
|
Total
Current Assets |
3,299.911 |
2,754.710 |
2,072.314 |
|
|
|
|
|
|
TOTAL |
5,643.271 |
4,584.872 |
3,808.964 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
125.566 |
77.676 |
226.499 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
42.895 |
30.454 |
80.571 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
82.671 |
47.222 |
145.928 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
219.601 |
172.379 |
58.081 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Preference Dividend |
0.000 |
0.000 |
27.125 |
|
|
|
Tax on Dividend |
0.000 |
0.000 |
4.505 |
|
|
BALANCE CARRIED
TO THE B/S |
302.272 |
219.601 |
172.379 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
661.417 |
633.202 |
417.170 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.85 |
1.08 |
3.33 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.31
|
1.75 |
6.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.05 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.61
|
1.35 |
1.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21
|
1.07 |
1.07 |
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 |
437.800 |
437.800 |
447.800 |
|
Reserves & Surplus |
975.158 |
1,022.380 |
1,195.050 |
|
Net
worth |
1,412.958 |
1,460.180 |
1,642.852 |
|
|
|
|
|
|
long-term borrowings |
399.244 |
475.363 |
1,171.420 |
|
Short term borrowings |
1,075.830 |
1,497.660 |
1,481.120 |
|
Total
borrowings |
1,475.076 |
1,973.022 |
2,652.537 |
|
Debt/Equity
ratio |
1.044 |
1.351 |
1.615 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
104.769 |
13.871 |
10.356 |
|
|
|
|
|
|
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 |
No |
|
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 |
Yes |
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Lodging No: NMSL/3497/2010 Filing Date:
08.12.2010 Reg. No.: NMS/3497/2010 Reg. Date: 08.12.2010 |
|
Main Matter Lodging No: ARBPL/881/2010
Reg. No.: ARBP/1072/2010
|
|
Petitioner: UNITED SPIRITS LIMITED - Respondent: PARAS
COLLINS DISTILLERIES PVT LTD AND ALLIED BLENDERS AND DISTILLERS PVT LTD Resp. Adv.: M. MULLA
ASSOCIATES (INTERVENER) (0) District: OUTSIDE MAHARASHTRA |
|
Bench: SINGLE Status: Pre-Admission Category:
NOTICE OF MOTION (ARBITRATION PETITION) Last Date: 20.12.2010 Stage:
FOR AD-INTERIM RELIEF (ORIGINAL SIDE MATTERS) Last Coram: HON’BLE SHRI JUSTICE S.J. VAZIFDAR |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10478242 |
22/01/2014 |
16,242,847.00 |
ICICI BANK
LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B96660915 |
|
2 |
10468749 |
21/11/2013 |
150,000,000.00 |
AXIS BANK
LIMITED |
CORPORATE
BANKING BR., GR. FLR, AXIS HOUSE, BOMBAY DYEING MILLS COMPOUND, P. B. MARG,
WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B92952852 |
|
3 |
10456653 |
04/10/2013 |
5,844,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B88181284 |
|
4 |
10448777 |
04/09/2013 |
400,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI -
400018, MAHARASHTRA, INDIA |
B84881366 |
|
5 |
10390042 |
12/07/2013 * |
600,000,000.00 |
STATE BANK OF
TRAVANCORE |
112-115 TULSIANI
CHAMBERS, 212 FREE PRESS JOURNAL MARG, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA,
INDIA |
B80629033 |
|
6 |
10381597 |
19/06/2013 * |
1,925,000,000.00 |
STATE BANK OF
BIKANER AND JAIPUR |
COMMERCIAL
NETWORK BRANCH, 239 P. D. MELLO ROAD, NEAR G. P. O, MUMBAI - 400001,
MAHARASHTRA, INDIA |
B78977808 |
|
7 |
10300835 |
16/07/2011 |
2,300,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI - 400013, MAHARASHTRA, INDIA |
B18285007 |
|
8 |
10300844 |
16/07/2011 |
2,300,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI - 400013, MAHARASHTRA, INDIA |
B18288720 |
|
9 |
10297175 |
25/06/2011 |
7,500,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI - 400013, MAHARASHTRA, INDIA |
B16793481 |
|
10 |
10292314 |
06/06/2011 |
6,300,000.00 |
BMW INDIA
FINANCIAL SERVICES PRIVATE LIMITED |
TOWER C, 14TH
FLOOR, BUILDING NO. 10, DLF CYBER CITY, PHASE-II, GURGAON - 122002, HARYANA,
INDIA |
B15045693 |
|
11 |
10094694 |
21/12/2012 * |
735,000,000.00 |
AXIS BANK
LIMITED |
CORPORATE
BANKING BRANCH, AXIS HOUSE, GRD. FLOOR, C-2, WADIA INTERNATIONAL CENTRE, P.B.
MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B66161258 |
|
12 |
10100818 |
17/12/2007 |
4,100,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE COURCE
CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
A37444841 |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Deposits from others |
288.085 |
310.023 |
|
Loans and advances from directors |
50.000 |
0.000 |
|
Loans and advances from others |
630.000 |
130.000 |
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand from banks |
0.000 |
179.990 |
|
Other loans and advances, others |
47.288 |
3.943 |
|
|
|
|
|
Total |
1015.373 |
623.956 |
CHANGE OF ADDRESS:
The Registered office of the company has been shifted from Office No.1
and 2, 1st Floor, Fine Mansion, 203, D. N. Road, Opposite Suvidha Restaurant,
Fort, Mumbai – 400001, Maharashtra, India to the present address
w.e.f.22.06.2009.
OPERATIONS
The Company has achieved a significant landmark and recorded a sales
figure of 20 million cases for the year 2012-13, as against 17.56 million cases
of the previous years, a growth of 14% which is higher than the industry growth
of 3%. The Company’s market share has improved to 6.4% and Officer’s Choice,
the flagship brand of the Company’s market share increased to 26%.
Officer’s Choice whisky brand recorded sale of 17.55 million cases for
the year ending 31st March, 2013 against 16.21 million cases in FY ending 31st
March, 2012 showing the growth of 8% in regular segment against the industry
de-growth of 1% in regular segment of IMFL.
Officer’s Choice continues to be the largest IMFL brand exported from
India. During the year, the Company exported more than a million cases which is
third in a row and is now recognized as ‘Star Export House' status by Director
General of Foreign Trade(DGFT). The Company is in the process of launching its
brand in the markets of United States of America and Canada. The required
statutory process is already under progress and we are likely to launch our product
in the current financial year.
In domestic market, Officer’s Choice is a clear market leader in the
States of Assam, Andhra Pradesh, Chandigarh, Haryana, Himachal Pradesh,
Jharkhand, Kolkata, Meghalaya, Punjab, Rajasthan, Tripura, and West Bengal. The
Company has also improved its performance in Western Market, in particularly
improved its market share in Maharashtra state to 20% in year 12-13 from 17% in
last year. The Company expects growth momentum to continue in current financial
year.
The response of the consumers to Officer’s Choice Blue Whisky has been
very encouraging and the Company has sold 1.3 million cases making it a
millionaire brand in the first full year of its launch. The Company expanded
its reach to the markets of Delhi, Uttarakhand, Chandigarh, Rajasthan, Punjab,
Kolkata, West Bengal, Oddhisa, Jharkhand, Meghalaya, Tripura, Madhya Pradesh,
Chhattisgarh and Goa in the year under discussion. In the current Financial
Year, the Company has already launched this brand in the markets of Rajasthan
and Bihar. The Company is confident of achieving a new milestone with this
brand in the near future.
The Company is in the key markets like Andhra Pradesh and Rajasthan, the
Regulatory Authorities has given price increase in the last quarter of the year
from customers towards recovery of cost of inflation. These has helped company
to recover its cost and improved its profitability.
Uncertain global economic environment, inflation, adverse impact of
rupee depreciation, higher ENA price and competitive intensity continue to pose
challenge for the future. While the near term condition poses a challenge for
the economy, the medium to longer term trends based on rising incomes,
aspirations etc. are positive and an opportunity for the Company. The Company
is well poised to meet these challenges.
On the manufacturing front Company’s three units produced 2.64 million
cases. The re-distillation plant at Aurangabad has produced its own extra
neutral alcohol from brought out rectified spirit. The total quantity produced
during the year was 30 lacs BL. The re-distillation plant has the capacity of
producing 30 KL per day.
During the year, the Company started new banking relationship with State
Bank of Bikaner and Jaipur (SBBJ), State Bank of Travancore (SBT) and repaid
high interest bearing loans from Yes Bank Limited, Ratnakar Bank Limited, and
State Bank of Mauritius.
FIXED ASSETS:
· Land
· Buildings
· Office building
· Factory building
· Plant and equipment
· Factory equipments
· Other plant and equipment
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Office equipment
· Computer equipments
· Other equipments
· Leasehold improvements
· Computer software
· Know-how
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. 61.98 |
|
|
1 |
Rs. 103.31 |
|
Euro |
1 |
Rs. 85.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.