MIRA INFORM REPORT
|
Report Date : |
15.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
MATTEL TOYS (INDIA) PRIVATE LIMITED |
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Registered
Office : |
Phoenix House, B-Wing, 462, Senapati Bapat Marg, Lower Parel, Mumbai – 400013, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
17.07.1986 |
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Com. Reg. No.: |
11-040426 |
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Capital
Investment / Paid-up Capital : |
Rs.1436.664 Millions |
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|
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CIN No.: [Company Identification
No.] |
U36940MH1986PTC040426 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NGPM00760E / MUMM39918E |
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PAN No.: [Permanent Account No.] |
AACCM2563P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Trader and Importer of all types of Toys. |
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No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having moderate track record. There seems an accumulated losses recorded by the company during 2013.
However, trade relations are fair. Business is active. Payment terms
are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Mahendra Parma |
|
Designation : |
Sales Officer |
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Contact No.: |
91-22-66613800 |
|
Date : |
14.10.2014 |
LOCATIONS
|
Registered Office : |
Phoenix House, B-Wing, 462, Senapati Bapat Marg, Lower
Parel, Mumbai – 400013, Maharashtra, India |
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Tel. No.: |
91-22-66613800/ 66613823 / 66613805 |
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Fax No.: |
91-22-66613900 |
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E-Mail : |
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Website : |
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Warehouse: |
Located At
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DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Robert John Normile |
|
Designation : |
Director |
|
Address : |
7130 La Presa Drive, Los Angeles, California, 90068, USA, |
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Date of Birth/Age : |
26.07.1959 |
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Date of Appointment : |
26.05.2003 |
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DIN No.: |
00579716 |
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|
|
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Name : |
Mr. Kevin Morgan Farr |
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Designation : |
Director |
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Address : |
1420 Via Castilia Palos Verdes Estates, |
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Date of Birth/Age : |
20.12.1957 |
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Date of Appointment : |
16.08.2000 |
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DIN No.: |
00579681 |
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Name : |
Mr. Brian Francis Oconnor |
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Designation : |
Director |
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Address : |
716, |
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Date of Birth/Age : |
22.05.1961 |
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Date of Appointment : |
26.05.2003 |
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DIN No.: |
00577840 |
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Name : |
Mr. Peter Broegger |
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Designation : |
Director |
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Address : |
Altkoenigstrasse 54, Koenigstein,
30714146, Denmark |
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Date of Birth/Age : |
12/11/1969 |
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Date of Appointment : |
27/07/2012 |
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DIN No.: |
05349138 |
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|
|
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Name : |
Mr. Manoj Kumar |
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Designation : |
Director |
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Address : |
304, Prakruti Co-operative Housing Society, Plot 3, Sector 21,
Kharghar, Navi Mumbai – 410 210, Maharashtra, India |
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Date of Birth/Age : |
21.05.1970 |
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Date of Appointment : |
08.02.2012 |
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PAN No.: |
ANLPS7382R |
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DIN No.: |
05316973 |
KEY EXECUTIVES
|
Name : |
Mr. Manoj Kumar |
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Designation : |
Secretary |
|
Address : |
304, Prakruti Co-operative Housing Society, Plot 3, Sector 21,
Kharghar, Navi Mumbai – 410 210, Maharashtra, India |
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Date of Birth/Age : |
21.05.1970 |
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Date of Appointment : |
22.09.2003 |
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PAN No.: |
ANLPS7382R |
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|
|
|
Name : |
Mr. Mahendra Parma |
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Designation : |
Sales Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Mattel Inc., USA |
|
16035115 |
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Mattel Inc., USA jointly with Christopher Willlson White |
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1 |
|
Mattel International Holdings, B.V., Netherland |
|
15406286 |
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Total |
|
31441402 |
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Names of Shareholders (Preference Shares) |
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No. of Shares |
|
Mattel Inc., |
|
112225000 |
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Total |
|
112225000 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
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 |
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20290228_MIRA%2015-Oct-2014_files/image013.gif)
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Trader and Importer of all types of Toys. |
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Products : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
GENERAL INFORMATION
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Customers : |
Wholesalers and Retailers |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
Bank of America, Fort, Mumbai, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Price Waterhouse and Company Chartered Accountants |
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Address : |
Mumbai, Maharashtra, India |
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PAN No.: |
AADFP9359C |
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Holding Company : |
Mattel Inc., U.S.A. |
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Fellow Subsidiary: |
Mattel International Holdings, B.V. ("MIH") |
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Fellow
subsidiaries/ affiliates: |
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CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
31990000 |
Equity Shares |
Rs.10/- each |
Rs.319.900 Millions |
|
115010000 |
Preference Shares |
Rs.10/- each |
Rs.1150.100 Millions |
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|
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|
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Total |
|
Rs.1470.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
31441402 |
Equity Shares |
Rs.10/- each |
Rs.314.414 Millions |
|
112225000 |
Preference Shares |
Rs.10/- each |
Rs.1122.250 Millions |
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|
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|
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Total |
|
Rs.1436.664 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 |
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|
|
|
(a) Share Capital |
1436.664 |
1436.664 |
1436.664 |
|
(b) Reserves & Surplus |
(567.759) |
(740.169) |
(897.415) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
|
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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) |
868.905 |
696.495 |
539.249 |
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(3)
Non-Current Liabilities |
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|
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(a) long-term borrowings |
8.036 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
1.000 |
1.000 |
0.000 |
|
(d) long-term
provisions |
26.749 |
22.043 |
20.527 |
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Total Non-current Liabilities
(3) |
35.785 |
23.043 |
20.527 |
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(4)
Current Liabilities |
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|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
412.549 |
266.833 |
175.943 |
|
(c) Other
current liabilities |
21.741 |
15.326 |
14.703 |
|
(d) Short-term
provisions |
7.053 |
1.413 |
0.110 |
|
Total Current
Liabilities (4) |
441.343 |
283.572 |
190.756 |
|
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|
|
|
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TOTAL |
1346.033 |
1003.110 |
750.532 |
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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 |
19.699 |
7.297 |
7.575 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
28.033 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
90.579 |
98.285 |
86.148 |
|
(e) Other
Non-current assets |
10.154 |
8.998 |
2.001 |
|
Total Non-Current
Assets |
148.465 |
114.580 |
95.724 |
|
|
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(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
359.272 |
254.598 |
262.955 |
|
(c) Trade
receivables |
378.779 |
253.119 |
187.636 |
|
(d) Cash and
cash equivalents |
427.108 |
351.453 |
187.036 |
|
(e)
Short-term loans and advances |
18.375 |
22.313 |
10.235 |
|
(f) Other
current assets |
14.034 |
7.047 |
6.946 |
|
Total
Current Assets |
1197.568 |
888.530 |
654.808 |
|
|
|
|
|
|
TOTAL |
1346.033 |
1003.110 |
750.532 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
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|
SALES |
|
|
|
|
|
|
|
Income |
(Approximately) |
1205.890 |
|
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Other Income |
NA |
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TOTAL |
NA |
1205.890 |
980.190 |
|
|
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|
Less |
EXPENSES |
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|
Administrative Expenses |
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Advertising Expenses |
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TOTAL |
NA |
NA |
NA |
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PROFIT BEFORE
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
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PROFIT AFTER TAX |
172.410 |
157.250 |
89.780 |
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Earnings Per
Share (Rs.) |
5.48 |
5.00 |
2.86 |
|
%20PRIVATE%20LIMITED%20-%20290228_MIRA%2015-Oct-2014_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20290228_MIRA%2015-Oct-2014_files/image004.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20290228_MIRA%2015-Oct-2014_files/image005.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20290228_MIRA%2015-Oct-2014_files/image006.gif){kind=small}
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
2000.000 |
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The above information has been parted by Mr. Mahendra Parma
Note : Sole Proprietary and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA |
13.04 |
9.16 |
|
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|
Debt Equity Ratio (Total Debt /Networth) |
|
0.01 |
0.00 |
0.00 |
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|
Current Ratio (Current Asset/Current Liability) |
|
2.71 |
3.13 |
3.43 |
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 |
1436.664 |
1436.664 |
1436.664 |
|
Reserves & Surplus |
(897.415) |
(740.169) |
(567.759) |
|
Net worth |
539.249 |
696.495 |
868.905 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
8.036 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
8.036 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.009 |
%20PRIVATE%20LIMITED%20-%20290228_MIRA%2015-Oct-2014_files/image015.gif)
LOCAL AGENCY FURTHER INFORMATION
CURRENT
MATURITIES OF LONG-TERM DEBT DETAILS – NOT AVAILABLE
|
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 |
Yes |
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
|
LITIGATION DETAILS |
|||||||
|
Bench:- Bombay |
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Presentation Date: 21/02/2014 |
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Lodging No. : |
CPL/99/2014 |
Failing Date:- |
21/02/2014 |
Reg. No.:- |
CP/285/2014 |
Reg. Date:- |
16/04/2014 |
|
Petitioner:- |
JEENA AND COMPANY PRIVATE LIMITED |
Respondent:- |
MATTEL TOYS (INDIA) PRIVATE LIMITED |
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|
Petn.Adv:- |
M/S. SANJAY UDESHI AND COMPANY (598) |
Resp. Adv.: |
MEHTA AND COMPANY (I360) |
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|
District:- |
MUMBAI |
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Bench:- |
Single |
Category:- |
Company Petition U/SEC 433,434,439 Companies ACT |
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|
Status:- |
Pre-Admission |
Stage:- |
FOR ADMISSION [ORIGINAL SIDE MATTERS] |
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|
Next Date:- |
27/10/2014 |
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Last Coram:- |
HON’BLE SHRI JUSTICE S.J. KATHAWALLA |
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Act. : |
Companies Act and Rule 1956 |
Under Section 433,434 & 439 |
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GENERAL INFORMATION
Subject was incorporated on July 17, 1986. The Company is engaged in the business of trading of toys. The traded goods are imported from group companies and also involve assembling of components through third party manufacturer.
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Land
- Buildings
- Plant and Equipment
- Office Equipment
- Computer Equipments
- Leasehold Improvements
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 records 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.61.11 |
|
|
1 |
Rs.78.15 |
|
Euro |
1 |
Rs.77.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NTH |
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 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.