MIRA INFORM REPORT
|
Report Date : |
05.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
V V F LIMITED |
|
|
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Formerly Known As : |
VEGETABLE VITAMIN FOODS COMPANY LIMITED |
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Registered Office : |
Plot No.109, Opposite Sion (East), Off. Sion Fort Garden, Mumbai – 400022, Maharashtra |
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Country : |
India |
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|
Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
14.09.1939 |
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Com. Reg. No.: |
11-002994 |
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Capital
Investment / Paid-up Capital : |
Rs.57.364
Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U99999MH1939PLC002994
|
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
RKTV00663F |
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|
|
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PAN No.: [Permanent Account No.] |
AAACV3847R |
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Legal Form : |
A
Closely Held Public Limited Liability Company |
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|
Line of Business : |
Manufacturing
and Sale of Processed Oils, Fatty Acid and Allied Products, Soaps Noodles/
Soaps, Shaving Cream and Wind Mills. |
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|
|
|
No. of Employees: |
Information
declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2600000 |
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|
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having a satisfactory track. The company is gradually improving its performance marked by reporting
a profit as compared to the previous year loss. Profit margin appears to be
decent. Financial as well as liquidity position seems to be sound. The rating also take into consideration the transfer of its domestic
oleo chemicals, contract manufacturing business and company owned brands
together with related assets to new company V V F (India) Limited in order to
fund the business growth. Trade relations are fair. Business is active. Payment terms are
reported as slow but correct. The subject can be considered 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loan = BB+ |
|
Rating Explanation |
Moderate risk of default regarding timely payments. |
|
Date |
March, 2014 |
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 DENIED
MANAGEMENT NON-COOPRATIVE
CONTACT NO.: 91-22-40282000
LOCATIONS
|
Registered / Corporate Headquarter Office
: |
Plot No.109, Opposite Sion (East), Off. Sion Fort Garden, Mumbai-400022, Maharashtra, India |
|
Tel. No.: |
91-22-40282000/ 40282250/ 24073221-23/ 24093882/
24030802/ 24016749 |
|
Fax No.: |
91-22-24091554/ 24073771/ 24086698 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Survey No.65, Meghpar Borichi, Galpadar Anjar Road, Gandhidham-370201,
Gujarat, India |
|
Tel. No.: |
91-2836-246985/ 83/ 84 |
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Fax No.: |
91-2836-246981 |
|
E-Mail : |
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Factory 2 : |
Village Bhatauli, Kalan (Baddi), H B No.214 Paragana Dharampur,
Taluka Nalagarh District Solan-173205, Himachal Pradesh, India |
|
Tel. No.: |
91-1795-661300 |
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Fax No.: |
91-1795-275034 |
|
E-Mail : |
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Factory 3 : |
Plot No. V-41, Taloja Industrial Area, Village – Chat, Taluka Panvel, District Raigad-410208, Maharashtra, India |
|
Tel. No.: |
91-22-27412036/ 37 |
|
Fax No.: |
91-22-27412173 |
|
E-Mail : |
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Factory 4 : |
Survey No.635, SIM of Anjar, Taluka Anjar District Kutch-370110, Gujarat, India |
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|
|
Factory 5 : |
Soaps/Personal
Care Products/ Oleo Chemicals
NOP
Compound, Maneklal Road, Navsari, District Bulsar-396445, Gujarat, India |
|
Tel. No.: |
91-2637-250227/47498 |
|
Fax No.: |
91-2637-256622 |
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E-Mail : |
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|
|
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|
Factory 6 : |
Personal
Care Products/ Soaps
141,
Survey No. 194/4, Panchal Udyog Nagar, Bhimpore, Nani Daman (Union
Territory), India |
|
Tel. No.: |
91-260-2263075 |
|
Fax No.: |
91-260-2263790 |
|
E-Mail : |
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|
|
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Factory 7 : |
Hay,
Bunder Road, Sewree, Mumbai-400033, Maharashtra, India |
|
Tel. No.: |
91-22-23721967/23728035/
6238 |
|
Fax No.: |
91-22-24086698 |
|
E-Mail : |
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Wind
Mills: |
Located
at Satara, Maharashtra, India |
|
|
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|
Branch Office
: |
214,
DDA Commercial Complex, Phase I, Jhandewalan, New Delhi – 11005, India |
|
Tel. No.: |
91-11-3517800/3523536/3537800 |
|
Fax No.: |
91-11-3545475 |
|
E-Mail : |
DIRECTORS
As On 30.09.2013
|
Name : |
Mr.
Rustom Godrej Joshi |
|
Designation : |
Chairman
and Managing Director |
|
Address : |
501, Marker Mansion, 623, Lady Jehangir Road, Parsee Colony, Dadar,
Mumbai 400014, Maharashtra, India |
|
Date of Birth/Age : |
05.05.1953 |
|
Date of Appointment : |
24.11.1972 |
|
|
AABPJ7137L |
|
Din No.: |
00277901 |
|
|
|
|
Name : |
Mr.
Faraz Godrej Joshi |
|
Designation : |
Whole Time Director |
|
Address : |
40 – A, Hill Stone, B. G. Kher Marg, Malabar Hill, Mumbai 400006,
Maharashtra, India |
|
Date of Birth/Age : |
21.07.1946 |
|
Date of Appointment : |
24.11.1972 |
|
Din No.: |
00278206 |
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|
|
|
Name : |
Mr. Rajamani Subramaniam Iyer |
|
Designation : |
Director |
|
Address : |
21, 2nd Floor, Khetani Heights, Plot No. 123, Road No. 27,
Sion Eest, Mumbai 400022, Maharashtra, India |
|
Date of Birth/Age : |
25.12.1927 |
|
Date of Appointment : |
30.09.1996 |
|
Din No.: |
00278672 |
|
|
|
|
Name : |
Mr.
Julio Frederick Ribeiro |
|
Designation : |
Director |
|
Address : |
51, 5th Floor, Sagar Tarang, Worli Seaface, Mumbai 400025,
Maharashtra, India |
|
Date of Birth/Age : |
05.05.1929 |
|
Date of Appointment : |
23.01.2001 |
|
Din No.: |
00047630 |
|
|
|
|
Name : |
Ms. Shanaz Diwan |
|
Designation : |
Whole Time Director |
|
Address : |
40A, Hillstonme, B G Kher Marg, Malabar Hill, Mumbai – 400 006,
Maharashtra, India |
|
Date of Birth/Age : |
22.02.1950 |
|
Date of Appointment : |
30.01.2008 |
|
Din No.: |
02019387 |
|
|
AABPD7249M |
MAJOR SHAREHOLDERS
As On 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Vita Oil Private Limited, India |
|
200000 |
|
R. F. Exports Private Limited, India |
|
1015000 |
|
Rustom Godrej Joshi |
|
1955688 |
|
Faraz
Godrej Joshi |
|
1955788 |
|
Neville Rustom Joshi |
|
100 |
|
Navsari Oil Products Private Limited, India |
|
150100 |
|
Godsil Investments Private Limited, India |
|
200 |
|
Shanaz Diwan |
|
359524 |
|
V V F Employees Benefit Trust, India |
|
100000 |
|
|
|
|
|
TOTAL
|
|
5736400 |
As On 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
23.80 |
|
Directors
or relatives of directors |
|
74.46 |
|
Other
top fifty shareholders |
|
1.74 |
|
|
|
|
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing
and Sale of Processed Oils, Fatty Acid and Allied Products, Soaps Noodles/
Soaps, Shaving Cream and Wind Mills. |
||||||||||||
|
|
|
||||||||||||
|
Products : |
|
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Installed
Capacity |
|
Processed Oils, Fatty Acid and Allied Products |
MT |
468000 |
|
Soap Noodles |
MT |
164540 |
|
Toilet Soaps |
MT |
106600 |
|
Talc Powder |
MT |
13035 |
|
Hair Dye |
MT |
660 |
|
Toothpaste |
MT |
1080 |
|
Other Personal Care Products |
MT |
2630 |
|
Wind Mills |
KW/H |
3500 |
NOTE:
- Licensed capacities as Industrial
Licensing has been abolished for these products.
- Capacities include Captive Consumption.
ACTUAL PRODUCTION:
|
Particulars |
Actual
Production * In MT |
|
Processed Oil, Acids and Allied Products (Non-Edible) |
148579.99 |
|
Soap Noodles |
14895.79 |
|
Toilet Soap [ Including M.T. 6603.02 processed foroutsideparty] |
45380.07 |
|
Talc Powder |
5110.77 |
NOTE: * Excludes Production for Captive Consumption.
GENERAL INFORMATION
|
No. of Employees : |
Information
declined by the management. |
|||||||||||||||
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|
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|
Bankers : |
|
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|
|||||||||||||||
|
Facilities : |
NOTE : Long Term
Borrowing Punjab National
Bank - 1st charge on Fixed Assets and Plant and Machinery situated at Kutch
I* and exclusive charge on movable and immovable Fixed Assets situated at
Satara ; 2. Shamrao Vithal Co-op Bank - 1st pari passu charge on movable and
immovable Fixed Assets situated at Sion. Package of scheme of Incentive allowed the company to accumulate the
sales tax collected from its customer in respect of goods sold against
installing 10 windmills at Satara. Sales Tax collected each year is repayable
in 5 equal yearly instalments after from the year of collection. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
H. N. Mehta Associates Chartered Accountants |
|
Address : |
50-51, Ali Chambers, Tamarind Lane, Flora Fountain, Mumbai 400023,
Maharashtra, India |
|
Tel. No.: |
91-22-22652956/ 22653482/ 22656089 |
|
Fax No.: |
91-22-22651708 |
|
E-Mail : |
|
|
PAN No: |
AAAFH6348C |
|
|
|
|
Wholly Owned Subsidiaries : |
CIN No.: U45400MH2010PTC210098 |
|
|
|
|
Subsidiaries : |
CIN No.: U51900MH2000PTC127812 |
|
|
|
|
Wholly Owned Step-Down Subsidiaries : |
|
|
|
|
|
Step Down Joint Venture/ Associates : |
|
|
|
|
|
Enterprises which are owned, or have significant
influence of or are partners with Key management personnel and their
relatives : |
CIN No.: U51909MH2005PTC156458
CIN No.: U24296MH2010PLC210239 |
CAPITAL STRUCTURE
As On 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
1050000 |
Preferences Shares |
Rs.100/- each |
Rs.105.000 Millions |
|
|
|
|
|
|
|
TOTAL
|
|
Rs.205.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5736400 |
Equity Shares |
Rs.10/- each |
Rs.57.364
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 |
57.364 |
57.364 |
57.364 |
|
(b) Reserves & Surplus |
589.264 |
485.246 |
2510.663 |
|
(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) |
646.628 |
542.610 |
2568.027 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
249.283 |
444.962 |
2577.217 |
|
(b) Deferred tax liabilities (Net) |
21.146 |
22.757 |
18.695 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
170.904 |
135.549 |
51.230 |
|
Total Non-current
Liabilities (3) |
441.333 |
603.268 |
2647.142 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a)
Short term borrowings |
10.000 |
5.000 |
8171.271 |
|
(b)
Trade payables |
2.789 |
6.819 |
1494.528 |
|
(c)
Other current liabilities |
316.068 |
418.226 |
1758.131 |
|
(d) Short-term
provisions |
1.510 |
1.282 |
23.229 |
|
Total
Current Liabilities (4) |
330.367 |
431.327 |
11447.159 |
|
|
|
|
|
|
TOTAL |
1418.328 |
1577.205 |
16662.328 |
|
|
|
|
|
|
I.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
139.181 |
152.398 |
5645.531 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
24.386 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
399.401 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
912.196 |
912.196 |
1001.953 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
86.557 |
86.085 |
1565.272 |
|
(e) Other
Non-current assets |
6.486 |
6.486 |
117.786 |
|
Total
Non-Current Assets |
1144.420 |
1157.165 |
8754.329 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2.038 |
3.299 |
3610.931 |
|
(c)
Trade receivables |
190.249 |
109.011 |
3176.423 |
|
(d)
Cash and cash equivalents |
1.650 |
3.588 |
111.667 |
|
(e)
Short-term loans and advances |
75.857 |
56.214 |
1000.710 |
|
(f)
Other current assets |
4.114 |
247.928 |
8.268 |
|
Total Current
Assets |
273.908 |
420.040 |
7907.999 |
|
|
|
|
|
|
TOTAL |
1418.328 |
1577.205 |
16662.328 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
348.913 |
262.955 |
17692.876 |
|
|
|
Other Income |
4.665 |
17.856 |
74.096 |
|
|
|
TOTAL (A) |
353.578 |
280.811 |
17766.972 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
0.000 |
0.000 |
11728.247 |
|
|
|
Purchases of stock-in-trade |
0.000 |
0.000 |
511.097 |
|
|
|
Employee benefit expense |
54.194 |
21.158 |
697.927 |
|
|
|
Other expenses |
54.331 |
89.053 |
2532.749 |
|
|
|
Prior period items |
0.000 |
0.000 |
(9.786) |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(0.021) |
0.005 |
(316.024) |
|
|
|
TOTAL (B) |
108.504 |
110.216 |
15144.210 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
245.074 |
170.595 |
2622.762 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
82.991 |
121.580 |
1106.095 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
162.083 |
49.015 |
1516.667 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
13.217 |
13.769 |
788.375 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
148.866 |
35.246 |
728.292 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
44.848 |
44.396 |
240.959 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
104.018 |
(9.150) |
487.333 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
361.507 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
NA |
NA |
99.600 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
749.240 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export on F.O.B. basis |
0.000 |
0.000 |
5693.524 |
|
|
|
Services |
201.779 |
133.709 |
127.493 |
|
|
|
Interest |
0.000 |
0.505 |
8.532 |
|
|
TOTAL EARNINGS |
201.779 |
134.214 |
5829.549 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.000 |
0.000 |
6390.806 |
|
|
|
Capital Goods |
0.000 |
0.000 |
102.831 |
|
|
TOTAL IMPORTS |
0.000 |
0.000 |
6493.637 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
18.13 |
1.60 |
84.95 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
29.42
|
(3.25)
|
2.74
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
42.66
|
13.40
|
4.12
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
29.41
|
5.30
|
4.77
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.06
|
0.28
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.40
|
0.82
|
4.18
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.82
|
0.97
|
0.69
|
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 |
57.364 |
57.364 |
57.364 |
|
Reserves & Surplus |
2,510.663 |
485.246 |
589.264 |
|
Net
worth |
2,568.027 |
542.610 |
646.628 |
|
|
|
|
|
|
long-term borrowings |
2,577.217 |
444.962 |
249.283 |
|
Short term borrowings |
8,171.271 |
5.000 |
10.000 |
|
Total
borrowings |
10,748.488 |
449.962 |
259.283 |
|
Debt/Equity
ratio |
4.186 |
0.829 |
0.401 |
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) |
|
Revenue From Operations |
17,692.876 |
262.955 |
348.913 |
|
|
|
(98.514) |
32.689 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue From Operations |
17,692.876 |
262.955 |
348.913 |
|
Profit After Tax |
487.333 |
(9.150) |
104.018 |
|
|
2.75% |
(3.48%) |
29.81% |
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 |
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 |
-- |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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 |
UNSECURED LOAN
|
Particulars |
As
on 31.03.2013 [Rs.
in Millions] |
As
on 31.03.2012 [Rs.
in Millions] |
|
Long Term
Borrowing |
|
|
|
Deferred sales tax loan |
152.009 |
157.842 |
|
Other long term loan and advances |
0.000 |
10.005 |
|
|
|
|
|
Short Term
Borrowing |
|
|
|
Incorporate Deposit |
10.000 |
5.000 |
|
|
|
|
|
TOTAL
|
162.009 |
172.847 |
(A) The company has
taken Inter Corporate Deposit of Rs.10.000 Millions, which carry interest @15%
p.a. and are repayable on 25.06.2013
(B) The company has
taken Inter Corporate Deposit of Rs.5.000 Millions, which carry interest @15%
p.a.
OPERATIONS REVIEW
The year has been
challenging in view of the global economic environment. Despite that the
Company’s performance has improved gradually. The total revenue for the year
increased by 25.91% to Rs.353.500 Millions as compared to the previous year and
resulted in the net profit of Rs.104.000 Millions. This has been possible
because of focused management approach, reduction in cost and optimum
utilization of financial and human resources.
VIEW INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10476953 |
15/01/2014 |
800,000,000.00 |
ICICI BANK LIMITED |
ICICI BANK TOWERS, BANDRA KURLA COMPLEX,
BANDRA ( EAST),MUMBAI, MAHARASHTRA - 400051, INDIA |
B96097639 |
|
2 |
10247721 |
18/10/2010 |
1,500,000,000.00 |
CENTRAL BANK OF
INDIA |
INDUSTRIAL FINANCE BRANCH, CHANDRAMUKHI,
GROUND F |
A96984315 |
|
3 |
10195689 |
22/12/2009 |
500,000,000.00 |
PUNJAB NATIONAL
BANK |
GROUND FLOOR, MAKER TOWER E ,, CUFFE
PARADE,, MUM |
A76849892 |
|
4 |
10202879 |
21/12/2009 |
95,400,000.00 |
HENKEL INDIA
LIMITED |
NO.3, CENOTAPH ROAD,TEYNAMPET,, 1ST FLOOR,
CHENN |
A78528494 |
|
5 |
10148752 |
28/05/2012 * |
10,600,000,000.00 |
BANK OF INDIA |
MUMBAI LARGE CORPORATE BRANCH, ORIENTAL
BUILDING, |
B40255069 |
|
6 |
10141751 |
28/05/2012 * |
700,000,000.00 |
BANK OF INDIA |
MUMBAI LARGE CORPORATE BRANCH, ORIENTAL
BUILDING, |
B40255572 |
|
7 |
10138007 |
21/04/2009 * |
150,000,000.00 |
THE SHAMRAO
VITHAL CO-OP. BANK LTD. |
NEW ENGLISH SCHOOL, GOVERNMENTS SERVANT'S
COLONY,, |
A62015920 |
|
8 |
90238533 |
25/04/2005 |
11,500,000.00 |
BANK OF INDIA |
SION BRANCH, MUMBAI, MAHARASHTRA - 400022,
INDIA |
- |
|
9 |
90240565 |
30/03/1999 |
50,000,000.00 |
ICICI LIMITED |
163; BACKBAY RECLAMATION, MUMBAI,
MAHARASHTRA - 40 |
- |
|
10 |
90239000 |
25/07/1983 |
533,162.00 |
BHARAT PETROLIUM
CORPORATION LTD. |
CURRIMBHOY ROAD, BALLARD ESTATE, MUMBAI,
MAHARASH |
- |
* Date of charge
modification
FIXED
ASSETS:
- Land
- Leasehold Land
- Building
- Plant and Machinery
- Electrical Installation
- Furniture and Fixtures
- Office Equipments
- Air Conditioners
- Cooling Machine
- Laboratory Apparatus
- Vehicles
- Boiler
- Water Cooler
- Weigh Bridge/Scale
- Process
Vessel and Lift
WEBSITE DETAILS
VVF looks beyond soaps
Saturday,
22 October 2011
Mumbai-based VVF Limited, the
largest contract soap manufacturer in the country, received an investment of
Rs136 crore from Reliance Capital’s wholly owned subsidiary, Reliance Equity
Advisors, for a ‘significant minority stake’ this week.
Mumbai-based
VVF Limited, the largest contract soap manufacturer in the country, received an
investment of Rs136 crore from Reliance Capital’s wholly owned subsidiary, Reliance
Equity Advisors, for a ‘significant minority stake’ this week.
But VVF does not wish to comment
on the development, said Rashmin Joshi, director and president, personal
products.
What he did speak about the
renewed focus of the company in building its personal products portfolio by
looking beyond selling soap bars.
Hair care and men’s grooming are
two areas it is looking at establishing presence in. The personal products
division currently has soap brands Jo, Doy and Bacter Shield.
Recent efforts in hair care have
been in the form of introducing shampoos under Jo and Doy and mass-market hair
colour under Jo. Mahabringol hair oil, which it acquired from Henkel India Ltd
last year, will also be marketed and relaunched.
A range of men’s grooming products
are also ready, Joshi says.
“In the Indian landscape, most
products are focused towards women with men being restricted to shaving creams
and deodorants, and fairness creams of late. We want to bring in a serious
range of men’s grooming products,” he says.
While it also acquired Henkel’s
soap brands Aramusk and Moloy, it sold them to Wipro Consumer Care and Lighting
in June for an undisclosed amount to focus on core brands Jo and Doy.
“The purpose of acquiring those
brands was to enter newer segments but the competitive intensity in soaps
suddenly heightened with players having deep-pockets and long-term outlook
becoming really aggressive — something we had not anticipated,” Joshi says.
Rumours about VVF divesting its
soap brands surface time and again, but Joshi says the company is keen to
utilise its advantage of global outlook and supply chain strength to gain a
strong foothold in the fast moving consumer goods market in India that is
growing rapidly.
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.59.34 |
|
|
1 |
Rs.99.18 |
|
Euro |
1 |
Rs.80.76 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--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 |
|
45 |
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.