MIRA
INFORM REPORT
|
Report Date : |
06.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
PEPSICO INDIA HOLDINGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-3, DLF Corporate Park, ‘S’ Block, Qutab Enclave, Phase III, Gurgaon -
122002, Haryana |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
28.01.1994 |
|
|
|
|
Com. Reg. No.: |
05-033754 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 36949.900 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15549HR1994PTC033754 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELP10965D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP1272G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of aerated and non-aerated beverage products, juice and juice based drinks and packed food products. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 172190000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Pepsico having satisfactory track record. Profitability of the company seems to be low during 2013. However, trade relations are fair. Business is active. Payment terms
are usually correct. In view of strong holding, the company can be considered normal 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 – 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
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 that 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.
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.: 91-124-2880699)
LOCATIONS
|
Registered Office / Factory 1: |
B-3, DLF Corporate Park, ‘S’ Block Qutab Enclave, Phase III, Gurgaon –
122002, Haryana, India |
|
Tel. No.: |
91-124-2880699 / 2355880 / 2355863 / 2355871 / 6355880 / 863 |
|
Fax No.: |
91-124-2355853 / 2355861 / 2355862 / 6355862 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
LGF-54, World Trade Centre, Barakhamba Road, New Delhi – 110001, India |
|
Tel. No.: |
91-11-23323021 |
|
Fax No.: |
91-11-51522541 |
|
Location : |
Commercial |
|
|
|
|
Factory 2 : |
Frito Lay Divison, Village Channo, Post Office
Bhawanigarh, District Sangrur, Patiala - 148026, Punjab , India |
|
Tel. No.: |
91-1672-468118 |
|
|
|
|
Branch Offices : |
Located at : ·
·
Phillaur ·
Sangrur ·
Gurgaon
·
|
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Rajiv Wakhle |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
D-602, Ambience Island, NH-8, Gurgaon – 122002, Haryana, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
04.09.1958 |
|||||||||||||||||||||||||||
|
|
B.E./B.Tech |
|||||||||||||||||||||||||||
|
Date of Appointment : |
28.11.2008 |
|||||||||||||||||||||||||||
|
PAN No.: |
AAKPW1794P |
|||||||||||||||||||||||||||
|
DIN No.: |
00265039 |
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|
Other
Directorship :
|
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|
|
|
|||||||||||||||||||||||||||
|
Name : |
Pradeep Jain |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
A-B-602, Uniworld City, Sector-30/41, Gurgaon – 122001, Haryana, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
19.08.1968 |
|||||||||||||||||||||||||||
|
Qualification : |
CA |
|||||||||||||||||||||||||||
|
Date of Appointment : |
15.03.2013 |
|||||||||||||||||||||||||||
|
DIN No. : |
02110401 |
|||||||||||||||||||||||||||
|
Other
Directorship :
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mr. Kanish Malik |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
Apartment No. 1702, World Spa, Sector 30, Gurgaon – 122001, Haryana,
India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.01.1966 |
|||||||||||||||||||||||||||
|
Qualification : |
B.E./B. Tech |
|||||||||||||||||||||||||||
|
Date of Appointment : |
04.08.2011 |
|||||||||||||||||||||||||||
|
PAN No.: |
AAVPM8673Q |
|||||||||||||||||||||||||||
|
DIN No.: |
03612432 |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Kaushik Gunakar Mitra |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
Flat No. 402, Tower – 3, Belmonte Golf Course Road, Gurgaon – 122002,
Haryana, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
30.10.1968 |
|||||||||||||||||||||||||||
|
Qualification : |
MBA |
|||||||||||||||||||||||||||
|
Date of Appointment : |
23.04.2012 |
|||||||||||||||||||||||||||
|
PAN No. : |
ADPPM8004L |
|||||||||||||||||||||||||||
|
DIN No. : |
05279295 |
|||||||||||||||||||||||||||
|
Other
Directorship :
|
||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Vinod Kaushal |
|
Designation : |
Secretary |
|
Address : |
D-115, Ridgewood Estate, DLF City, Phase IV, Gurgaon – 122002,
Haryana, India |
|
Date of Birth/Age : |
19.12.1971 |
|
Date of Appointment : |
07.03.2011 |
|
PAN No.: |
AADPK5427C |
|
|
|
|
Name : |
Mr. Samik Basu |
|
Designation : |
CPO – India Region |
|
|
|
|
Name : |
Manu Anand |
|
Designation : |
Region President |
|
|
|
|
Name : |
Mr. Amitabh Pande |
|
Designation : |
EVP -Consumer Insights |
|
|
|
|
Name : |
Mr. Anil Kumar Sharma |
|
Designation : |
Compute Delivery Manager |
|
|
|
|
Name : |
Mr. Pradeep Jain |
|
Designation : |
CFO India Beverages |
|
|
|
|
Name : |
Mr. Ranjit Kamath |
|
Designation : |
EVP Finance -Himalayan MU (Bev) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Pepsico Panimex Inc., Mauritius |
3692172586 |
|
Beaman Bottling Company, Dover |
2813601 |
|
Jyoti Sagar |
26 |
|
Total |
3694986213 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
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 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of aerated and non-aerated
beverage products, juice and juice based drinks and packed food products. |
||||||||
|
|
|
||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
Bldg. No. 10, 8th Floor, Tower B, DLF Cyber City, Phase II, Gurgaon – 122022, Haryana, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFB9852F |
|
|
|
|
Holding company : |
PepsiCo Panimex Inc., Mauritius |
|
|
|
|
Ultimate holding
Company : |
PepsiCo Inc. (Trademark owner) |
|
|
|
|
Fellow
Subsidiary Companies : |
· PepsiCo World Trading Company, Inc. Pepsi Cola International Cork PepsiCo Inc. (Hong Kong Branch) Pepsi-Cola (Thai) Trading Co. Limited Quakers Oats Australia Pty Limited Pepsico International Pte Limited PepsiCo Inc., Dubai Lebedyansky OJSC Societe Moderne Lebanaise Pour International Refershment Company Limited Pepsi Cola International, Cork Pepsi-Cola International Co. of Uruguary S.R.L Pepsi-Lipton International Limited PCI NewYork PepsiCo Services Asia Limited The Pepsi Bottling Group (Canada) |
|
|
|
|
Subsidiary
companies : |
· Aradhana Drinks And Beverages Private Limited CIN No.: U15549DL2003PTC122303 Aradhana Foods and Juices Private Limited CIN No.: U74899DL2005PTC142296 Lehar Foods Private Limited CIN No.: U15549DL2003PTC122304 International Refershment Company Limited Aradhana Convenience Foods Private Limited (merged during
the year with PepsiCo India Holdings Private Limited w.e.f. 1 April 2010 ) |
|
|
|
|
Associates : |
· Pearl Drinks Limited CIN No.: U15532DL1982PLC014664 Varun Beverages Limited CIN No.: U74899DL1995PLC069839 Pearl Bottling Private Limited CIN No.: U15541DL1988PTC170355 Pearl Beverages Limited CIN No.: U15549DL1996PLC079678 SMV Beverages Private Limited CIN No.: U15500MH1996PTC099058 |
|
|
|
|
Joint
venture : |
Nouri Shco Beverages Limited CIN No.: U15500HR2010PLC041616 |
|
|
|
|
Other
Related Party : |
· PepsiCo India Holdings Employees Provident Fund Trust PepsiCo India Holdings Employees Superannuation Fund Trust |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,000,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 40000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,694,986,213 |
Equity Shares |
Rs.10/- each |
Rs. 36949.900 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 |
36949.900 |
36949.900 |
12791.400 |
|
(b) Reserves & Surplus |
6097.900 |
5922.400 |
2160.000 |
|
(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) |
43047.800 |
42872.300 |
14951.400 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
7113.900 |
6720.500 |
4646.900 |
|
(b) Deferred tax liabilities (Net) |
976.800 |
887.300 |
700.100 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
624.500 |
489.700 |
949.800 |
|
Total Non-current Liabilities (3) |
8715.200 |
8097.500 |
6296.800 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
887.300 |
2526.500 |
5796.300 |
|
(b) Trade payables |
11193.600 |
9599.800 |
5847.700 |
|
(c) Other current
liabilities |
1964.300 |
1217.700 |
1129.100 |
|
(d) Short-term provisions |
1494.300 |
768.100 |
12.900 |
|
Total Current Liabilities (4) |
15539.500 |
14112.100 |
12786.000 |
|
|
|
|
|
|
TOTAL |
67302.500 |
65081.900 |
34034.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
21929.600 |
19777.000 |
15713.700 |
|
(ii) Intangible Assets |
13843.500 |
16618.300 |
28.600 |
|
(iii) Capital
work-in-progress |
1667.700 |
1589.500 |
1500.500 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
6257.200 |
220.900 |
609.100 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3776.700 |
2905.500 |
1041.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
47474.700 |
41111.200 |
18892.900 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
239.700 |
336.300 |
336.300 |
|
(b) Inventories |
7557.200 |
6725.500 |
5078.300 |
|
(c) Trade receivables |
5636.000 |
4678.900 |
1760.300 |
|
(d) Cash and cash
equivalents |
473.500 |
854.200 |
543.400 |
|
(e) Short-term loans and
advances |
5903.600 |
11176.200 |
7271.900 |
|
(f) Other current assets |
17.800 |
199.600 |
151.100 |
|
Total Current Assets |
19827.800 |
23970.700 |
15141.300 |
|
|
|
|
|
|
TOTAL |
67302.500 |
65081.900 |
34034.200 |
SUMMARISED PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
Turnover |
|
69947.700 |
60928.700 |
|
|
|
|
|
|
|
|
Operating Income |
|
472.600 |
440.600 |
|
|
|
|
|
|
|
|
Other Income |
|
1431.200 |
836.900 |
|
|
|
|
|
|
|
|
LESS : |
|
|
|
|
|
Excise Duty |
|
4012.100 |
3341.500 |
|
|
|
|
|
|
|
|
Operating Expenditure |
|
0.000 |
14655.500 |
|
|
|
|
|
|
|
|
Depreciation |
|
6112.800 |
8147.500 |
|
|
|
|
|
|
|
|
Finance Cost |
|
10.500 |
128.100 |
|
|
|
|
|
|
|
|
Other Expenses |
|
24396.600 |
208000.800 |
|
|
|
|
|
|
|
|
Profit/Loss before Taxes, prior period expenses and exceptional items |
|
507.300 |
3287.900 |
|
|
|
|
|
|
|
|
Prior Period Expenses |
|
683.100 |
181.900 |
|
|
|
|
|
|
|
|
Deffered Tax |
|
0.000 |
41.000 |
|
|
|
|
|
|
|
|
Net Profit/Loss after Tax and exceptional items |
|
175.800 |
(3147.100) |
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
974.200 |
734.200 |
|
|
PARTICULARS |
|
|
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
40151.260 |
|
|
|
Other Income |
|
|
1405.612 |
|
|
|
TOTAL (A) |
|
|
41556.872 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Excise Duty |
|
|
5.431 |
|
|
|
Operating Expenditure |
|
|
16318.320 |
|
|
|
Other Expenses |
|
|
22765.042 |
|
|
|
Prior Period Expenses |
|
|
0.000 |
|
|
|
Profit on Sale of Beverage Business for West Bengal Territory |
|
|
0.000 |
|
|
|
TOTAL (B) |
|
|
39088.793 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
2468.079 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
213.651 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
2254.428 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
2260.036 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
|
|
(5.608) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
|
|
(5.608) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
|
230.923 |
|
|
|
Other Earnings |
|
|
160.107 |
|
|
TOTAL EARNINGS |
|
|
391.030 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
0.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA |
NA |
(0.01) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
NA |
(0.01) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
NA |
(0.02) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
NA |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.19 |
0.22 |
0.70 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.28 |
1.70 |
1.18 |
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 |
12791.400 |
36949.900 |
36949.900 |
|
Reserves & Surplus |
2160.000 |
5922.400 |
6097.900 |
|
Net
worth |
14951.400 |
42872.300 |
43047.800 |
|
|
|
|
|
|
long-term borrowings |
4646.900 |
6720.500 |
7113.900 |
|
Short term borrowings |
5796.300 |
2526.500 |
887.300 |
|
Total
borrowings |
10443.200 |
9247.000 |
8001.200 |
|
Debt/Equity
ratio |
0.698 |
0.216 |
0.186 |
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 |
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 |
No |
|
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] |
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
90182056 |
03/04/1995 |
20,000,000.00 |
BANK OF AMERICA |
DCM BUILDING, 16; BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
- |
|
2 |
90177587 |
28/03/1995 |
60,000,000.00 |
DEUTSCHE BANK |
TOLSTOY HOUSE, TOLSTOY MARG, NEW DELHI, DELHI - 110001, INDIA |
- |
|
3 |
90181951 |
18/07/1994 |
25,000,000.00 |
CITBANK N. A. |
3; PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA |
- |
|
4 |
90181872 |
01/12/1993 |
20,000,000.00 |
BANK OF AMERICA |
HANSALAYA BUILDING, NEW DELHI, DELHI, INDIA |
- |
|
5 |
90181871 |
25/11/1993 |
20,000,000.00 |
DEUTSCHE BANK |
AG; TOLSTOY HOUSE, TOISTOY MARG, NEW DELHI, DELHI, INDIA |
- |
|
6 |
90181607 |
23/05/1994 * |
40,000,000.00 |
STATE BANK OF PATIALA |
THE MALL, PATIALA, PUNJAB - 147001, INDIA |
- |
|
7 |
90179110 |
25/11/1993 * |
5,000,000.00 |
HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
28; KASTURBA GANDHI MARG, NEW DELHI, DELHI - 110001, INDIA |
- |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Other external commercial borrowings |
7055.800 |
6620.900 |
|
Deferred sales tax loan |
58.100 |
99.600 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Working capital loans from banks |
1.000 |
1945.100 |
|
Intercorporate borrowings |
886.300 |
581.400 |
|
Total |
8001.200 |
9247.000 |
COMPANY OVERVIEW
The Company is a subsidiary of PepsiCo Panimex Inc. Mauritius, is a private company incorporated on January 28, 1994 under the provisions of the Companies Act, 1956. The Company is engaged in the business of manufacture and trading of aerated and non-aerated beverage products, juice and juice based drinks and packed food products.
BUSINESS
During the year, the turnover of the Company was around Rs.69947.700 Millions. Overall, the Company is reporting a Profit for the year Rs 175.800 Millions as compared to a loss of Rs. 3147.100 Millions during the previous year.
AMALGAMATIONS
Amalgamation of the
Company with Pepsi Foods Private Limited (PFL)
The Hon'ble High Court for the states of Punjab and Haryana at Chandigarh had approved the scheme of amalgamation of Pepsi Foods Private Limited (Transferor company) (Transferor company) with PepsiCo India Holdings Private Limited (Transferee Company).
The appointed date of Amalgamation as per the scheme was 1 April 2010. The effective date of amalgamation, being the date of filing the amalgamation order with the Registrar Of Companies (ROC), is 12 March 2012.
Pepsi foods Private Limited (Transferor company) was engaged in the business of manufacture of soft drinks concentrate.
PepsiCo India Holdings Private Limited (Transferee company) is engaged in the business of manufacture and sale of aerated and non-aerated beverages, and snacks foods.
The amalgamation was in the nature of a merger and had been accounted for under the pooling of interests method.
As per the Scheme sanctioned :- Accounting Treatment
- All the assets and liabilities recorded in the books of the transferor company and the transferee company shall be recorded at their existing carrying amounts as appearing in the books the transferor company at the close of business of the day immediately preceeding the appointed date.
- The investments, inter-corporate deposits /loans and advances outstanding ,in any between the transferor company and the transferee company, inter se, if any shall stand cancelled and there shall be no further obligation/outstanding in that behalf and corresponding effect shall be given in the books of accounts and of the transferee company for the reduction of any assets and liabilities as the case may be. For the removal of doubt it is hereby clarified that there shall be no accrual of interest or other charges in respect of any intercorporate loans or balances. Any tax liabilities under any statutory legislation whether payable by the transferor company 'or the transferee company in respect of any, inter se, transactions between the appointed date and the effective date shall not be netted off.
- All the profits or income accruing or arising to the transferor company or expenditure or losses arising to or incurred by the transferor company, with effect from the appointed dates and upto and including effective date shall for all purpose and intents be treated and be deemed to accrue as the profit or income or expenditure or losses of the transferee company as the case may be.
AMALGAMATION OF THE
COMPANY WITH AHMEDABAD ADVERTISING AND MARKETING CONSULTANTS PRIVATE LIMITED
(AAML)
The Hon'ble High Court of Gujarat at Ahmedabad and the Hon'ble High Court of Punjab and Haryana at Chandigarh had approved the scheme of amalgamation of Ahmedabad Advertising and Marketing Consultants Private Limited (Transferor company) with PepsiCo India Holdings Private Limited (Transferee Company)
The appointed date of Amalgamation as per the scheme was 1 April 2010. The effective date of amalgamation, being the date of filing the amalgamation order with the Registrar of Companies (ROC), is 16 April 2012.
Transferor company was engaged in the business of marketing of carbonated and non-carbonated soft drinks beverages sold under the trade marks Pepsi, Mirinda, 7 UP, Slice, Aquafina, etc.
PepsiCo India Holdings Private Limited (Transferee company) is engaged in the business of manufacture and sale of aerated and non-aerated beverages and snacks foods.
The amalgamation was in the nature of a merger and had been accounted for under the pooling of interests method.
As per the Scheme sanctioned :- Accounting Treatment
- All assets and liabilities of the Transferor companies had been incorporated in the books of the Transferee company on the basis of the values recorded in the books of account of the Transferor companies as on the appointed date.
- The investments, inter -corporate deposits /loans and advances outstanding, in any between the transferor company and the transferee company , inter se, if any shall stand cancelled and there shall be no further obligation/outstanding in that behalf and corresponding effect shall be given in the books of accounts and of the transferee company for the reduction of any assets and liabilities as the case may be. For the removal of doubt it is hereby clarified that there shall be no accrual of interest or other charges in respect of any intercorporate loans or balances. Any tax liabilities under any statutorylegislation whether payable by the transferor company or the transferee company in respect of any, inter se, transactions between the appointed date and the effective date shall not be netted off.
- All the profits or income accruing or arising to the transferor company or expenditure or losses arising to or incurred by the transferor company, with effect from the appointed date and upto and including effective date shall for all purpose and intents be treated and be deemed to be accrue as the profit or income or expenditure or losses of the transferee company as the case may be.
- The identity of the reserves shall be preserved and they shall appear in the financial statements of the transferee company in the same form in which they appeared in the financial statements of the transferor company.
AMALGAMATION OF THE
COMPANY WITH PANAGARH MARKETING PRIVATE LIMITED (PML)
The Hon'ble High Court for the states of Punjab and Haryana at Chandigarh and the Hon'ble High Court of Delhi at New Delhi has approved the scheme of amalgamation of Panagarh Marketing Private Limited (Transferor company) with PepsiCo India Holdings Private Limited (Transferee Company)
The appointed date of Amalgamation as per the scheme is 1 April 2010.
The effective date of amalgamation, being the date of filing the amalgamation order with the Registrar Of Companies (ROC), is 28th April 2012.
Transferor company was engaged in the business of marketing of carbonated and non-carbonated soft drinks beverages sold under the trade marks Pepsi,Mirinda, 7 UP, Slice, Aquafina, etc.
PepsiCo India Holdings Private Limited (Transferee company) is engaged in the business of manufacture and sale of aerated and non-aerated beverages, and snacks foods.
The amalgamation was in the nature of a merger and had been accounted for under the pooling of interests method.
As per the Scheme sanctioned :- Accounting Treatment
- All assets and liabilities of the Transferor companies had been incorporated in the books of the Transferee company on the basis of the values recorded in the books of account of the Transferor companies as on the appointed date.
- The investments, inter-corporate deposits /loans and advances outstanding ,in any between the transferor company and thetransferee company , inter se, if any shall stand cancelled and there shall be no further obligation/outstanding in that behalf and corresponding effect shall be given in the books of accounts and records of the transferee company for the reduction of any assets and liabilities as the case may be. For the removal of doubt it is hereby clarified that there shall be no accrual of interest or other charges in respect of any intercorporate loans or balances. Any tax liabilities under any statutory legislation whether payable by the transferor company or the transferee company in respect of any, interse, transactions between the appointed date and the effective date shall not be netted off.
- All the profits or income accruing or arising to the transferor company or expenditure or losses arising to or incurred by the transferor company, with effect from the appointed date and upto and including effective date shall for all purpose and intents be treated and be deemed to be accrue as the profit or income or expenditure or losses of the transferee company as the case may be.
- The identity of the reserves shall be preserved and they shall appear in the financial statements of the transferee company in the same form in which they appeared in the financial statements of the transferor company.
- Any matter not dealt with above shall be dealt with in accordance with the applicable accounting standards prescribed by the ICAI.
AMALGAMATION OF THE
COMPANY WITH ARADHANA SOFT DRINKS COMPANY (ASDC) AND ARADHANA SNACK FOODS
COMPANY (ASFC)
The Hon'ble High Court for the states of Punjab and Haryana at Chandigarh had approved the scheme of amalgamation of Aradhana Soft Drinks Company (First Transferor company) and Aradhana Snacks Foods Company (Second Transferor company) with PepsiCo India Holdings Pvt. Ltd and their respective shareholders
and creditors.
The appointed date of Amalgamation as per the scheme was 1 April 2010. The effective date of amalgamation, being the date of filing the amalgamation order filed with the Registrar of Companies (ROC), is 13 Feb. 2012. First Transferor company was engaged in the business of manufacture, marketing and distribution of the soft drinks beverages sold under the trade marks Pepsi, Mirinda, Diet, Pepsi, 7UP, Slice, Aquafina, and Everess Soda etc. and Second Transferor company is an investing holding company.
PepsiCo India Holdings Private Limited (Transferee company) is engaged in the business of manufacture and sale of aerated and non-aerated beverages, and snacks foods.
The amalgamation was in the nature of merger and had been accounted for under the pooling of interest method.
As per the Scheme sanctioned :- Accounting Treatment
- All assets and liabilities of the Transferor companie had been incorporated in the books of the Transferee company on the basis of the values recorded in the books of account of the Transferor companies as on the appointed date.
- The investments, inter-corporate deposits /loans and advances outstanding, in any between the transferor company and the transferee company, inter se, if any shall stand cancelled and there shall be no further obligation/outstanding in that behalf and corresponding effect shall be given in the books of accounts and records of the transferee company for the reduction of any assets and liabilities as the case may be. For the removal of doubt it is hereby clarified that there shall be no accrual of interest or other charges in respect of any intercorporate loans or balances. Any tax liabilities under any statutory legislation whether payable by the
transferor company or the transferee company in respect of any, inter se, transactions between the appointed date and the effective date shall not be netted off.
- All the profits or income accruing or arising to the transferor company or expenditure or losses arising to or incurred by the transferor company, with effect from the appointed date and upto and including effective date shall for all purpose and intents be treated and be deemed to be accrue as the profit or income or expenditure or
losses of the transferee company as the case may be.
- The identity of the reserves shall be preserved and they shall appear in the financial statements of the transfree company in the same form in which they appeared in the financial statements of the transferor company.
- Any matter not dealt with above shall be dealt with in accordance with the applciable accounting standards prescribed by the ICAI.
AMALGAMATION OF THE
COMPANY WITH ARADHANA CONVENIENCE FOODS PRIVATE LIMITED (ACFP)
The Hon'ble High Court of Delhi and Hon'ble High Court of Punjab and Haryana at Chandigarh had approved the scheme of amalgamation of Aradhana Convenience Foods Private Limited (Transferor company) with PepsiCo India Holdings Private Limited (Transferee Company)
The appointed date of Amalgamation as per the scheme was 1 April 2010. The effective date of amalgamation, being the date of filing the amalgamation order with the Registrar Of Companies (ROC), is 8th October, 2012.
Transferor company was an Investing Holding Co.
PepsiCo India Holdings Private Limited (Transferee company) is engaged in the business of manufacture and sale of aerated and non-aerated beverages, and snacks foods.
The amalgamation was in the nature of a merger and had been accounted for under the pooling of interests method.
As per the Scheme sanctioned :- Accounting Treatment
- All assets and liabilities of the Transferor companies had been incorporated in the books of the Transferee company on the basis of the values recorded in the books of account of the Transferor companies as on the appointed date.
- The investments, inter -corporate deposits /loans and advances outstanding,in any between the transferor company and the transferee company , inter se, if any shall stand cancelled and there shall be no further obligation/outstanding in that behalf and corresponding effect shall be given in the books of accounts and records of the transferee company for the reduction of any assets and liabilities as the case may be. For the removal of doubt it is hereby clarified that there shall be no accrual of interest or other charges in respect of any intercorporate loans or balances. Any tax liabilities under any statutory legislation whether payable by the
transferor company or the transferee company in respect of any, inter se, transactions between the appointed date and the effective date shall not be netted off.
- All the profits or income accruing or arising to the transferor company or expenditure or losses arising to or incurred by the transferor company, with effect from the appointed date and upto and including effective date shall for all purpose and intents be treated and be deemed to be accrue as the profit or income or expenditure or losses of the transferee company as the case may be.
- The identity of the reserves shall be preserved and they shall appear in the financial statements of the transferee company in the same form in which they appeared in the financial statements of the transferor company.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
(i) Claims against the company not acknowledged as debts |
|
|
|
- Excise matters |
3478.100 |
498.600 |
|
- Sales tax matters |
2066.100 |
1587.300 |
|
- Income tax matters * |
3747.600 |
2220.200 |
|
|
9291.800 |
4306.100 |
|
*Amount paid under protest Rs. 456.900 Millions (previous year 425.000 Millions) *In addition to the above, the Company has received a draft assessment order under section 143(3) of the Income Tax Act, 1961 for AY 2009-10. The total addition recommended by the authorities amounts to Rs 33,084 lacs on account of price support, valuation of inventory and transfer pricing adjustment for advertising and marketing expenses. The Company has currently filed its petition before the Dispute Resolution Panel (DRP) against the draft assessment order. The final hearing has been concluded and Directions of DRP under section 144C are awaited. (ii) Other monies for which the Company is contingently liable: The Company has granted put options to various bottlers in which it has made long term investments, for the sale of their business, the value of which and the consequential financial impact, if any, can only be ascertained at the time of the option being exercised / settled. |
||
FIXED ASSETS
TANGIBLE ASSETS
· Land
Buildings
Plant
and Equipment
Furniture
and Fixtures
Vehicles
Motor
Vehicles
Office
Equipment
Computer
Equipments
Other
Equipments
Leasehold
Improvements
INTANGIBLE ASSETS
· Goodwill
Brands
and Trade Marks
Computer
Software
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 records 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.60.44 |
|
|
1 |
Rs.98.64 |
|
Euro |
1 |
Rs.78.20 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
47 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.