MIRA INFORM REPORT
|
Report Date : |
30.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
TILAKNAGAR INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
P O Tilaknagar, Taluka Shrirampur, District Ahmednagar, Shrirampur –
413720, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
29.07.1933 |
|
|
|
|
Com. Reg. No.: |
11-133303 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1237.700 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L15420PN1933PLC133303 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNET05464E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT6047R |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of manufacture and
sale of Indian Made Foreign Liquor. |
|
|
|
|
No. of Employees
: |
702 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 21000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having a fine track record. Financial position of the company seems to be sound. Trade relations are fair. Business is active. Payment terms are
regular and as per commitments. The company can be considered normal for business dealings at usual
trade terms and condition. |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
“BBB+” = Long Term loans |
|
Rating Explanation |
Have moderate degree of safety and carry
moderate credit risk. |
|
Date |
28.05.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
“A3+” = Short Term Bank Facilities |
|
Rating Explanation |
Have moderate degree of safety and carry
higher credit risk. |
|
Date |
28.05.2014 |
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
31-03-2014.
INFORMATION DECLINED
Management Non-cooperative. (Tel. No.: 91-22-67441313 / 22831718).
LOCATIONS
|
Registered Office/ Factory : |
P O Tilaknagar, Taluka Shrirampur, District Ahmednagar, Shrirampur –
413720, Maharashtra, India |
|
Tel. No.: |
91-24-22265123/265032 |
|
Fax No.: |
91-24-22265135 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
3rd Floor, |
|
Tel. No.: |
91-22-22831718 / 16 |
|
Fax No.: |
91-22-22046904 |
|
E-Mail : |
DIRECTORS
As on: 31.03.2014
|
Name : |
Mr. Amit
Dahanukar, |
|
Designation : |
Chairman and
Managing Director |
|
|
|
|
Name : |
Mrs. Shivani Amit
Dahanukar |
|
Designation : |
Executive
Director |
|
|
|
|
Name : |
Mr. V. B. Haribhakti |
|
Designation : |
Non - Executive
Directors |
|
|
|
|
Name : |
Dr. Vishnu
Kanhere |
|
Designation : |
Non - Executive
Directors |
|
|
|
|
Name : |
Dr. Ravindra
Bapat |
|
Designation : |
Non - Executive
Directors |
|
|
|
|
Name : |
Mr. C.V. Bijlani |
|
Designation : |
Non - Executive
Directors |
|
|
|
|
Name : |
Mr. Madan Goyal |
|
Designation : |
Non - Executive
Directors |
|
|
|
|
Name : |
Mr. Ronil Sujan (w.e.f. October 31, 2013) |
|
Designation : |
Non - Executive
Directors |
KEY EXECUTIVES
|
Name : |
Mr. Gaurav Thakur |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Mr. Srijit Mullick (w.e.f. October 05, 2013) |
|
Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2014
|
Category of
Shareholder |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of
Promoter and Promoter Group |
|
|
|
|
|
|
|
|
63816499 |
51.23 |
|
|
4755169 |
3.82 |
|
|
68571668 |
55.05 |
|
|
|
|
|
Total shareholding
of Promoter and Promoter Group (A) |
68571668 |
55.05 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
11123651 |
8.93 |
|
|
211640 |
0.17 |
|
|
10419441 |
8.37 |
|
|
21754732 |
17.47 |
|
|
|
|
|
|
6034976 |
4.85 |
|
|
|
|
|
|
16995105 |
13.64 |
|
|
9621520 |
7.72 |
|
|
1579256 |
1.27 |
|
|
302676 |
0.24 |
|
|
1016591 |
0.82 |
|
|
259944 |
0.21 |
|
|
45 |
0.00 |
|
|
34230857 |
27.48 |
|
Total Public
shareholding (B) |
55985589 |
44.95 |
|
Total (A)+(B) |
124557257 |
100.00 |
|
(C) Shares held by
Custodians and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
124557257 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacture and
sale of Indian Made Foreign Liquor. |
GENERAL INFORMATION
|
No. of Employees : |
702 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Cost Auditors : |
|
|
Name : |
P. D. Phadke and Associates Cost Accountants |
|
|
|
|
Statutory Auditors: |
|
|
Name : |
Batliboi and Purohit Chartered Accountants |
|
|
|
|
Internal Auditors: |
Devdhar Joglekar and Srinivasan Chartered Accountants |
|
|
|
|
Solicitors: |
|
|
|
|
|
Subsidiary Companies: |
|
|
|
|
|
Company in which Key Managerial Personnel has substantial interest: |
|
CAPITAL STRUCTURE
As on: 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000000 |
Equity Shares |
Rs. 10/- each |
Rs. 1500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
123769643 |
Equity Shares |
Rs.10/- each |
Rs. 1237.700
Millions |
|
|
|
|
|
- Reconciliation
of the number of shares outstanding
(Nos. in millions)
|
Particulars |
No of Shares |
|
Number of equity shares at the beginning |
121.880 |
|
Equity shares issued on exercise of employee stock options |
1.890 |
|
Number of equity
shares at the end |
123.770 |
- Terms /
rights attached to equity shares
Each holder of equity
share is entitled to one vote per share with a right to receive per share
dividend by the Company, when declared. In the event of liquidation, the equity
shareholders will be entitled to receive remaining assets of the Company after
distribution of all preferential amounts in the proportion to the number of
equity shares held by them.
- Details of
shareholders holding more than 5% shares in the Company
(Nos. in millions)
|
Name of the
shareholder |
No. of equity |
% of holding |
|
Shivani Amit Dahanukar |
32.980 |
26.64 |
|
Amit Dahanukar |
29.840 |
24.11 |
|
Small Cap World Fund, Inc |
8.890 |
7.18 |
|
IDFC Premier Equity Fund |
7.500 |
6.06 |
|
Total |
79.210 |
63.99 |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1237.700 |
1218.800 |
1200.020 |
|
(b) Reserves & Surplus |
4182.860 |
3778.490 |
3340.390 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
3.980 |
1.680 |
|
Total Shareholders’ Funds (1) + (2) |
5420.560 |
5001.270 |
4542.090 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a)
long-term borrowings |
2084.840 |
1775.260 |
723.500 |
|
(b) Deferred tax
liabilities (Net) |
357.650 |
305.420 |
259.130 |
|
(c)
Other long term liabilities |
678.350 |
451.940 |
321.890 |
|
(d)
long-term provisions |
12.720 |
8.440 |
8.230 |
|
Total
Non-current Liabilities (3) |
3133.560 |
2541.060 |
1312.750 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
4971.450 |
4095.330 |
3503.780 |
|
(b)
Trade payables |
437.600 |
455.660 |
355.730 |
|
(c)
Other current liabilities |
1016.410 |
318.900 |
375.730 |
|
(d)
Short-term provisions |
300.190 |
247.550 |
351.850 |
|
Total
Current Liabilities (4) |
6725.650 |
5117.440 |
4587.090 |
|
|
|
|
|
|
TOTAL |
15279.770 |
12659.770 |
10441.930 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
3811.920 |
3862.980 |
3886.270 |
|
(ii)
Intangible Assets |
251.800 |
57.220 |
85.420 |
|
(iii)
Capital work-in-progress |
1270.170 |
407.590 |
68.640 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b)
Non-current Investments |
455.250 |
457.750 |
440.850 |
|
(c)
Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1098.660 |
638.060 |
94.630 |
|
(e)
Other Non-current assets |
2.750 |
17.380 |
0.000 |
|
Total
Non-Current Assets |
6890.550 |
5440.980 |
4575.810 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
2.500 |
|
(b)
Inventories |
1048.730 |
1066.190 |
1081.400 |
|
(c)
Trade receivables |
1811.730 |
1348.180 |
894.860 |
|
(d)
Cash and cash equivalents |
107.630 |
88.520 |
80.920 |
|
(e)
Short-term loans and advances |
5420.940 |
4715.770 |
3805.920 |
|
(f)
Other current assets |
0.190 |
0.130 |
0.520 |
|
Total
Current Assets |
8389.220 |
7218.790 |
5866.120 |
|
|
|
|
|
|
TOTAL |
15279.770 |
12659.770 |
10441.930 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
6160.120 |
5690.610 |
4572.670 |
|
|
|
Other Income |
38.860 |
23.010 |
14.600 |
|
|
|
TOTAL (A) |
6198.980 |
5713.620 |
4587.270 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
2785.780 |
2355.250 |
1851.910 |
|
|
|
(Increase) / Decrease in stocks |
11.270 |
145.650 |
(328.680) |
|
|
|
Employees benefits expense |
322.060 |
276.350 |
272.440 |
|
|
|
Other expenses |
1623.420 |
1441.440 |
1457.240 |
|
|
|
TOTAL (B) |
4742.530 |
4218.690 |
3252.910 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1456.450 |
1494.930 |
1334.360 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
530.460 |
551.290 |
541.560 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
925.990 |
943.640 |
792.800 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
234.220 |
223.920 |
212.160 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
691.770 |
719.720 |
580.640 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
205.820 |
216.290 |
193.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
485.950 |
503.430 |
387.540 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1133.800 |
744.090 |
468.260 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Tax on Dividend |
117.390 |
113.720 |
111.710 |
|
|
BALANCE CARRIED
TO THE B/S |
1502.360 |
1133.800 |
744.090 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
310.000 |
151.060 |
66.910 |
|
|
TOTAL EARNINGS |
310.000 |
151.060 |
66.910 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
22.080 |
92.770 |
20.290 |
|
|
TOTAL IMPORTS |
22.080 |
92.770 |
20.290 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.96 |
4.17 |
3.35 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
7.84 |
8.81 |
8.45 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.23 |
12.65 |
12.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.10 |
6.10 |
5.85 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.14 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.30 |
1.17 |
0.93 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.25 |
1.41 |
1.28 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
1200.020 |
1218.800 |
1237.700 |
|
Reserves & Surplus |
3340.390 |
3778.490 |
4182.860 |
|
Share Application money
pending allotment |
1.680 |
3.980 |
0.000 |
|
Net worth |
4542.090 |
5001.270 |
5420.560 |
|
|
|
|
|
|
long-term borrowings |
723.500 |
1775.260 |
2084.840 |
|
Short term borrowings |
3503.780 |
4095.330 |
4971.450 |
|
Total borrowings |
4227.280 |
5870.590 |
7056.290 |
|
Debt/Equity ratio |
0.931 |
1.174 |
1.302 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
4572.670 |
5690.610 |
6160.120 |
|
|
|
24.448 |
8.251 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
4572.670 |
5690.610 |
6160.120 |
|
Profit |
387.540 |
503.430 |
485.950 |
|
|
8.48% |
8.85% |
7.89% |
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 |
No |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
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 |
No |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2014 |
As on 31.03.2013 |
|
LONG TERM
BORROWINGS |
|
|
|
From directors and related parties |
33.300 |
93.300 |
|
|
|
|
|
Total |
33.300 |
93.300 |
LISTING DETAILS:
|
Case Details Bench:-Bombay
District: - MUMBAI Bench: - SINGLE Status: - Admitted (Unready) Last Date: - 14/08/2012 Stage:- FOR CIRCULATION [CIVIL SIDE] Last Coram: - HON'BLE SMT. JUSTICE R.P. SONDURBALDOTA Act: - C.P.C.- (Non-Interlocutory Order) |
INDEX OF CHARGE:
|
Sr .No |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10446202
|
14/08/2013
|
550,000,000.00
|
THE FEDERAL
BANK LTD |
FEDERAL TOWER S P B NO 103,
ALWAYE, ERANAKULAM, Kerala - 683101, INDIA |
B83632174
|
|
2 |
10434584
|
19/06/2013
|
350,000,000.00
|
ALLAHABAD
BANK |
Mittal Chambers, Nariman
Point, Mumbai, Maharashtra - 400005, INDIA |
B78611803
|
|
3 |
10418834
|
14/06/2013
* |
650,000,000.00
|
Axis
Bank Limited |
TRISHUL 3RD FLOOR OPP
SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, Gujarat - 380006,
INDIA |
B79109674
|
|
4 |
10419016
|
14/06/2013
* |
1,000,000,000.00
|
STATE
BANK OF INDIA |
COMMERCIAL BRANCH, NGN VAIDYA
MARG, HORNIMAN CIRCLE, FORT, MUMBAI, Maharashtra - 400001, INDIA |
B79251567
|
|
5 |
10413248
|
07/03/2013
|
7,700,000.00
|
HDFC
BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT
MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
B71280846
|
|
6 |
10396612
|
22/12/2012
|
695,000.00
|
Punjab
National Bank |
BO Brady House, Veer Nariman
Road, Fort, Mumbai, Maharashtra - 400023, INDIA |
B65765844
|
|
7 |
10395090
|
14/06/2013
* |
500,000,000.00
|
GE
MONEY FINANCIAL SERVICES Private LIMITED |
401 402 4TH FLOOR AGGARWAL
MILLENIUM TOWER, E1 2 3 NETAJI SUBHASH PLACE, PITAMPURA DELHI, Delhi -
110034, INDIA |
B79314316
|
|
8 |
10364283
|
14/12/2012
* |
400,000,000.00
|
Bank
of India |
Nariman Point Large Corporate
Branch,, Free Press House, 9th Floor, 215 Nariman Point, Mumbai, Maharashtra
- 400021, INDIA |
B65765133
|
|
9 |
10272976
|
25/03/2013
* |
4,700,000,000.00
|
PNB INVESTMENT
SERVICES LIMITED |
10, Rakesh Deep Building,,
Yusuf Sarai Commercial Complex, Gulmohar Enclave, New Delhi, Delhi - 110049,
INDIA |
B72883382
|
|
10 |
10173658
|
25/02/2013
* |
364,000,000.00
|
State
Bank of India |
Commercial Branch, NGN Vaidya
Marg, Horniman Circle, Fort, Mumbai, Maharashtra - 400001, INDIA |
B69966208
|
* Date of modification charge
OPERATIONAL REVIEW
The Company believes in growing in a balanced manner with a combination of volumes and profitability. As a result, the Company has evolved to become a name to reckon within the Indian alcoholic beverages industry characterized by a robust portfolio of brands including iconic brands such as ‘Mansion House’ and ‘Courrier Napoleon’ supported by a loyal and growing customer base.
During the financial year 2013-14, the Company continued its drive towards sustainable growth and witnessed a volume growth of 17% translating to 16.13 million cases as compared to 13.80 million cases in the financial year 2012-13 driven by its concentrated efforts to capitalize the strong portfolio of brands through a well spread distribution network along with focus on brand development.
The Brandy segment of the Company continued to be at forefront contributing 55%, followed by Whisky and Rum segments, which have contributed 22% each to the overall sales volume of the Company. The sales volume in Brandy segment has increased by 24% to 8.80 million cases as compared to 7.08 million cases in the last financial year. The sales volume in Whisky segment has increased by 9% to 3.58 million cases as compared to 3.28 million cases in the last financial year. The sales volume in Rum segment grew by 9% to 3.57 million cases as compared to 3.28 million cases in the last financial year. In other segments, 0.18 million cases were sold as compared to 0.16 million cases sold in the last financial year.
The Company is predominantly present in southern region with sales volume of 12.85 million cases which has grown by 19% as compared to 10.84 million cases in the last financial year. The sales volume in eastern region increased to 0.66 million cases as compared to 0.53 million cases in the last financial year, an impressive increase of 25%. Sales volume in western region grew by 20% to 0.34 million cases as compared to 0.28 million cases in the last financial year. Export and Institution segment grew by 6% to 2.28 million cases as compared to 2.15 million cases in last financial year.
Despite the lower sales of brands in the State of Tamil Nadu due to lower supply on account of constrains faced by the bottlers, the Company has garnered total revenue of Rs.8284.630 million during the financial year 2013-14 as compared to Rs. 7545.840 million in the last financial year driven by its premiumization strategy, healthy increase in volumes in other States combined with the efforts to reach a wider consumer base, sustained brand development and marketing effort. The escalated ENA costs coupled with increased sales and distribution costs and hedging cost on forex loans have impacted profitability resulting in a marginal decrease in profit before tax from Rs. 850.370 million to Rs. 845.380 million. Accordingly, the profit after tax for the financial year 2013-14 stood at Rs. 582.560 million as compared to Rs. 605.960 million in the last financial year.
FIXED ASSETS:
- Land
- Buildings
- Plant and
Equipment
- Furniture and
Fixtures
- Office
Equipment
- Computers
- Electrical
Installation and Fittings
- Motor Car and Transport Vehicles
- Roads and
Bridges
- Library Books
- Live stock
- Tools and
Equipments
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. 61.31 |
|
|
1 |
Rs. 99.00 |
|
Euro |
1 |
Rs. 78.14 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
51 |
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.