MIRA
INFORM REPORT
|
Report Date : |
05.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
HINDUSTAN COCA-COLA BEVERAGES PRIVATE LIMITED (w.e.f. 11.10.1999) |
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Formerly Known
As : |
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Registered
Office : |
13, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
14.02.1997 |
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Com. Reg. No.: |
55-085151 |
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Capital
Investment / Paid-up Capital : |
Rs.13518.290 Millions |
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CIN No.: [Company Identification
No.] |
U74899DL1997PTC085151 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
DELH04006C |
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PAN No.: [Permanent Account No.] |
AAACH3005H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in manufacturing and distribution of non-alcoholic beverages. |
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Maximum Credit Limit : |
USD 140000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a subsidiary of “Hindustan Coca-Cola Holdings Private
Limited”. It is a well-established company having fine track record. The rating reflects company’s leadership position in the domestic
non-alcoholic beverages market with strong brands under its portfolio,
supported by stable nature of demand in the domestic beverage business and
financial as well as managerial support that company receives from its parent
company. Further rating also reflects heathy financial risk profile and fair
profitability levels of the company, Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. In view of strong holding support, the company can be considered good
for normal 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization policies.
A firm called Ciane Analytics studied returns from assets including
equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate
outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
FITCH |
|
Rating |
Long Term Issuer Rating = AAA |
|
Rating Explanation |
Very low default risk and strong capacity
for repayment of financial commitments
|
|
Date |
28.03.2013 |
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
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Vijaykumar Varma |
|
Designation : |
Finance Manager |
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Contact No.: |
91-124-6755500 |
LOCATIONS
|
Registered Office : |
13, Abul Fazal Road, Bengali Market, New Delhi – 110 001, India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office : |
3rd
Floor, Orchid Centre, DLF Golf
Course Road, Sector 53,
Gurgaon – 122 001, Haryana, India |
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Tel. No.: |
91-124-6755500/ 4705600 |
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Facsimile No.: |
91-124-6755501 |
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Zonal Offices : |
Located at: · Rajastan · Ahmedabad · New Delhi · Hyderabad · Chennai · Bangalore · Cochin · Patna · Bhubaneswar ·
Mumbai ·
Goa |
DIRECTORS
As on 16.09.2013
|
Name : |
Mr. Thirumalai Krishnakumar |
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Designation : |
Director |
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Address : |
Flat No. 12-A, GH-6, Orchid Garden, Suncity, Sector-54, DLF Golf
Course Road, Gurgaon-122001, Haryana, India |
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Date of Birth/Age : |
20.10.1959 |
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Date of Appointment : |
21.09.2010 |
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DIN No.: |
00079047 |
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Other Directorship:
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Name : |
Mr. Shukla Wassan |
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Designation : |
Director |
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Address : |
Y-141, Regency Park II, DLF Phase IV, Gurgaon-122009, Haryana, India |
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Date of Birth/Age : |
18.12.1959 |
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Date of Appointment : |
21.09.2010 |
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DIN No.: |
02770898 |
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Other Directorship:
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Name : |
Mr. Patrick George Yadauga |
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Designation : |
Additional Director |
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Address : |
1432, Sandstone CT Southlake TX 76092 |
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Date of Birth/Age : |
09.06.1956 |
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Date of Appointment : |
15.09.2011 |
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DIN No.: |
03483196 |
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Other Directorship:
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Name : |
Mr. Jawahar Solai Kuppuswamy |
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Designation : |
Whole Time Director |
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Address : |
Flat No.0602, 6th Floor, Block No.11, Nirvana Counrty,
Gurgaon-122018, Haryana, India |
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Date of Birth/Age : |
01.05.1964 |
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Date of Appointment : |
25.09.2012 |
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DIN No.: |
05179638 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Shukla Wassan |
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Designation : |
Company Secretary |
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Address : |
Y-141, Regency Park II, DLF Phase IV, Gurgaon-122009, Haryana, India |
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Date of Birth/Age : |
18.12.1959 |
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Date of Appointment : |
01.07.2008 |
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PAN No.: |
AAHPW8633J |
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Name : |
Mr. Vijaykumar Varma |
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Designation : |
Finance Manager |
MAJOR SHAREHOLDERS
As on 16.09.2013
|
Names of Equity Shareholders (Class A) |
|
No. of Shares |
|
Hindustan Coca-Cola Holdings Private Limited, India |
|
259250280 |
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The HCCB Employees Welfare Trust, India |
|
20250100 |
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The HCCB Employees Stock Options Trust, India |
|
20250020 |
|
Sunil Gupta |
|
1 |
|
Ravinder Narain |
|
3 |
|
Dadachanji Behram Jamshed |
|
4 |
|
Ponnacle Trades International Private Limited, India |
|
250000 |
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Total |
|
300000408 |
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Names of Equity Shareholders (Class B) |
No. of Shares |
|
Hindustan Coca-Cola Holdings Private Limited, India |
248469047 |
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Total |
248469047 |
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Names of 1% Redeemable Non-Cumulative, Non-Participative Preference
Shareholders |
No. of Shares |
|
Hindustan Coca-Cola Holdings Private Limited, India |
803359200 |
|
Total |
803359200 |
Equity Share Break up (Percentage of Total Equity)
As on 16.09.2013
|
Category |
Percentage |
|
Bodies corporate |
92.62 |
|
Other top fifty shareholders |
7.38 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing and distribution of non-alcoholic
beverages. |
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Products : |
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PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity # |
|
Beverage in RGB |
Per annum |
254298750 |
|
Beverage in PET |
Per annum |
160947947 |
|
Beverage in Can |
Per annum |
14025000 |
|
Beverage in Tetra Packs |
Per annum |
7366667 |
|
Bulk Water |
Per annum |
3366000 |
In physical cases except for Bulk Water, which is in nos.
Licensed capacity has not been mentioned in view of De-licensing clause
by Government.
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
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Bankers : |
Not Available |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
S R Batliboi and Company Chartered Accountants |
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Address : |
Golf View Corporate Towers- B, Sector-42, Sector Road, Gurgaon-122002,
Haryana, India |
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Tel. No.: |
91-124-4644000 |
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Fax No.: |
91-124-4644050 |
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PAN No.: |
AALFS0506L |
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Holding Company : |
· Hindustan Coca-Cola Holdings Private Limited CIN No.:- U74899DL1997FTC085304 |
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Subsidiaries : |
· Hindustan Coca-Cola Marketing Company Private Limited (HCCM) CIN No.:- U51227DL2000PTC106974 |
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Enterprises which
are owned, or have significant influence of or are partners with Key
Management personnel and their relatives :
|
· Coca-Cola India Private Limited (CCIPL) CIN No.:- U15549PN1992FTC065522 · The Coca-Cola Export Corporation, Atlanta (TCCEC) · Atlantic Industries, Ireland · Coca-Cola India, Inc. – Headquarters · Soft Drink International, Atlanta · Coca-Cola Beverages (Shanghai) Company Limited |
CAPITAL STRUCTURE
As on 16.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
650000000 |
Equity Shares |
Rs.10/- each |
Rs.6500.000 Millions |
|
900000000 |
Preference Shares |
Rs.10/- each |
Rs.9000.000 Millions |
|
|
Total |
|
Rs.15500.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
548469455 |
Equity Shares |
Rs.10/- each |
Rs.5484.695 Millions |
|
803359200 |
Preference Shares |
Rs.10/- each |
Rs.8033.592 Millions |
|
|
Total |
|
Rs.13518.287
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 |
13,518.290 |
13,518.290 |
13,304.150 |
|
(b) Reserves & Surplus |
20,665.380 |
17,886.140 |
9,836.550 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
4,496.750 |
|
Total Shareholders’
Funds (1) + (2) |
34,183.670 |
31,404.430 |
27,637.450 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
124.370 |
111.760 |
95.100 |
|
(d) long-term provisions |
517.160 |
370.850 |
326.850 |
|
Total Non-current Liabilities (3) |
641.530 |
482.610 |
421.950 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2,383.810 |
829.410 |
1,057.620 |
|
(b) Trade payables |
9,832.670 |
9,417.650 |
7,644.800 |
|
(c) Other current
liabilities |
5,409.030 |
4,379.800 |
3,352.870 |
|
(d) Short-term provisions |
1,165.780 |
1,019.780 |
950.200 |
|
Total Current Liabilities (4) |
18,791.290 |
15,646.640 |
13,005.490 |
|
|
|
|
|
|
TOTAL |
53,616.490 |
47,533.680 |
41,064.890 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
25,546.170 |
22,343.020 |
20,637.530 |
|
(ii) Intangible Assets |
83.340 |
77.960 |
35.900 |
|
(iii) Capital
work-in-progress |
2,226.170 |
740.210 |
2,329.370 |
|
(iv)
Intangible assets under development |
12.830 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.070 |
0.070 |
0.070 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1,863.650 |
1,176.940 |
704.960 |
|
(e) Other Non-current assets |
2.420 |
3.230 |
3.230 |
|
Total Non-Current Assets |
29,734.650 |
24,341.430 |
23,711.060 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
15,804.400 |
13,314.690 |
9,501.220 |
|
(c) Trade receivables |
1,823.550 |
1,121.820 |
679.250 |
|
(d) Cash and cash
equivalents |
2,102.330 |
5,858.570 |
5,343.350 |
|
(e) Short-term loans and
advances |
4,132.590 |
2,858.650 |
1,815.500 |
|
(f) Other current assets |
18.970 |
38.520 |
14.510 |
|
Total Current Assets |
23,881.840 |
23,192.250 |
17,353.830 |
|
|
|
|
|
|
TOTAL |
53,616.490 |
47,533.680 |
41,064.890 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
65,971.270 |
56,102.090 |
45,406.000 |
|
|
|
|
Other Income |
57.200 |
480.130 |
363.000 |
|
|
|
|
TOTAL (A) |
66,028.470 |
56,582.220 |
45,769.000 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
TOTAL (B) |
60,373.990 |
50,296.680 |
40,394.000 |
|
|
|
|
|
|
|
||
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
5,654.480 |
6,285.540 |
5,375.000 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
(702.830) |
(723.610) |
178.000 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
6,357.310 |
7,009.150 |
5,197.000 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
3,578.030 |
3,242.170 |
3,216.000 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
2,779.280 |
3,766.980 |
1,981.000 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
2,779.280 |
3,766.980 |
1,981.000 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export Earnings |
NA |
NA |
4.652 |
|
|
|
TOTAL EARNINGS |
NA |
NA |
4.652 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials and Packaging Materials |
|
|
1261.684 |
|
|
|
|
Stores & Spares |
|
|
115.407 |
|
|
|
|
Capital Goods |
|
|
1582.000 |
|
|
|
TOTAL IMPORTS |
NA |
NA |
2959.091 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
2.06 |
NA |
3.92 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.21 |
6.66 |
4.33 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.21 |
6.71 |
4.36 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.41 |
8.05 |
5.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.12 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.07 |
0.03 |
0.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27 |
1.48 |
1.33 |
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 |
13304.150 |
13518.290 |
13518.290 |
|
Reserves & Surplus |
9836.550 |
17886.140 |
20665.380 |
|
Share Application money
pending allotment |
4496.750 |
0.000 |
0.000 |
|
Net worth |
27637.450 |
31404.430 |
34183.670 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
1057.620 |
829.410 |
2383.810 |
|
Total
borrowings |
1057.620 |
829.410 |
2383.810 |
|
Debt/Equity
ratio |
0.038 |
0.026 |
0.070 |
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 |
|
Sales |
45,406.000 |
56,102.090 |
65,971.270 |
|
|
|
23.557 |
17.591 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
45,406.000 |
56,102.090 |
65,971.270 |
|
Profit |
1,981.000 |
3,766.980 |
2,779.280 |
|
|
4.36% |
6.71% |
4.21% |
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 |
Yes |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS
|
IN THE HIGH
COURT OF DELHI AT NEW DELHI Through
Mr.Vipin Kumar, Adv. .....
Respondent CORAM: Arb.P.
No.249/2014 Issue
notice to the respondent, on filing of process fee and Regd A.D. Covers
within a week, returnable on 22nd August, 2014.
|
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Short Term Bank Overdraft* |
|
|
|
- From Banks |
2,383.810 |
829.410 |
|
Total |
2,383.810 |
829.410 |
* Short term bank overdraft carries interest @ 9.5% p.a. to 10.5%
p.a. during the year.
CORPORATE INFORMATION
The Company is a private company domiciled in India and incorporated under the provisions of the Companies Act, 1956.
The Company is a subsidiary of Hindustan Coca-Cola Holdings Private Limited [HCCH]. The Company is engaged in manufacturing and distribution of non-alcoholic beverages under the authority of The Coca-Cola Company, USA and primarily sells its products in India."
OPERATION OF THE COMPANY
During
the Financial Year 2012-2013, the Company has made great strides in operations
by adding significant outlets and improved ground execution resulting
improvement in its performance.
The
Company improved its Net Sales to Rs.65971.270 Million for the year ended March
31, 2013 as against Rs.56102.090 Million during the previous Financial Year,
and achieved a growth of 18%. After providing Rs.19.590 Million towards
interest and finance charges (previous year Rs.15.250 Million) and Rs.3578.030
Million towards depreciation (previous year Rs.3242.170 Million), the Company
has reported a net profit of Rs.2779.280 Million for the Financial Year as
against a net profit of Rs.3766.980 Million during the previous Financial Year.
The accumulated loss in the books of the Company as at March 31, 2013 is
Rs.8166.950 Million (previous year Rs. 10946.220 Million).
Financial
Year 2012-2013 started on a good note. The Company executed strong trade
marketing calendar led by Sparkling and Juices, which helped us to deliver
strong volume performance in the first half of the Financial Year. However
latter half of the year was impacted by unfavorable weather conditions in the
country. Strong execution led to gain in Market Share.
The
Company further standardized and strengthened execution system across categories.
This helped to streamline ground operation as well as trade management.
To
support its growth plans, the Company has invested Rs.6838.870 Million
primarily towards expansion of its capacities and in sales generating assets to
increase the sales.
Subsidiary
of the Company, M/s Hindustan Coca-Cola Marketing Company Private Limited
[HCCM], has discontinued its operations from May, 2008 and is exploring various
other business options.
NEW PRODUCT LAUNCHES
The
Company has expanded its portfolio in the Non Alcoholic Ready to Drink (NARTD)
market with the launch of Apple flavor under the brand Fanta.
The
Company has also launched new packs of 400 ml and 750 ml both in Sparkling and
Juice category. These packs are expected to be growth engines for the Company
in the years to come.
Juice
Portfolio had also been strengthened with the addition of 200 ml Tetra Pak
under the Minute Maidbrand whileTetra wedge (125 ml) was launched under the
Maazaand Minute Maidbrand. They are still in the initial phase.
Launch
of sleek cans of Ginger Ale to cater the niche segment in mixers category, is
expected to help in building the Schweppes brand.
FUTURE OUTLOOK
The
Company is confident of continuing the growth in the business which it has been
generating in both short term and long term. Sparkling and Juice would continue
to be the major drivers. Portfolio of the Company will be supplemented with new
products and pack launches.
The
Company would continue investing in manufacturing capacities, supply chain
capabilities and sales generating assets in line with the growth plans.
AWARDS
The Financial Year 2012-13 has been remarkable for the
Company and it bagged accolades for adherence to quality, safety norms and
environment. Some of the awards that the Company received are as follows:
1.
Water Digest Water Award
The Company was awarded Water Reuse Project of the year from
Water Digest supported by UNESCO and the Ministry of Water Resources in India. The
award was given by the Director and UNESCO Representative of India, Bhutan,
Maldives and Sri Lanka, Mr. Shigeru Aoyagi and the Special Secretary, Ministry
of Water Resources, Mr. G. Mohan Kumar.
2.
CII - Excellence Award in Environment
Health & Safety
The Company’s Plant in Bangalore received 6th Edition of
Excellence Award in Environment, Health & Safety (EHS) for the year 2012
from The Confederation of Indian Industry (CII) Southern Region.
3.
Awards for Rain Maker from
International Water Association
The Company’s Plant in Gujarat was adjudged the Global Grand
Winner by the International Water Association for its innovative beverage
process water recovery system, Project Rainmaker Water for the Future, Moving
towards Zero Liquid Discharge?, at a ceremony in Busan, Korea in September
2012. This award was to celebrate excellence and innovation in water and
sanitation projects in middle income countries.
4.
Pollution Control Management Award
The Patna Unit of the Company was adjudged second for
Excellence in Pollution Control Management for the year-2012-13 by the Jury on
Industrial Pollution Control Awards. The award was presented by the then
Hon’ble Dy. Chief Minister, Bihar, Shri Sushil Kumar Modi to the
representatives of HCCB Patna unit, at a state level function organized by the
Bihar State Pollution Control Board on the occasion of World Environment Day on
05 th June 2013, at Indira Gandhi Planetarium Complex, Patna.
NO CHARGES EXIST
FOR THE COMPANY
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.60.45 |
|
|
1 |
Rs.99.46 |
|
Euro |
1 |
Rs.79.46 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
64 |
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.