MIRA INFORM REPORT
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Report No. : |
320327 |
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Report Date : |
30.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
COLGATE – PALMOLIVE (INDIA) LIMITED |
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Registered
Office : |
Colgate Research Centre, Main Street, Hiranandani Gardens Powai,
Mumbai - 400076, Maharashtra |
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Tel. No.: |
91-22-25705050 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
23.09.1937 |
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Com. Reg. No.: |
11-002700 |
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Capital
Investment / Paid-up Capital : |
Rs.135.993 Million |
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CIN No.: [Company
Identification No.] |
L24200MH1937PLC002700 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMC00390F |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
A Public Limited Liability Company.
The Company’s Shares are Listed on the Stock Exchanges. |
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Line of Business
: |
Manufacturer of Toothpaste and Tooth Powder, Tooth Brush and Mouth
Wash. |
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No. of Employees
: |
1702 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Aa (74) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a well-established and reputed company having excellent
track record. Financial position of the company seems to be sound. There are no external
borrowing recorded by the company during 2014. Fundamentals are strong and
healthy. Trade relations are reported as trustworthy. Business is active.
Payment terms are reported to be regular and as per commitment. The company can be considered good 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.
EXTERNAL AGENCY RATING
Not Available
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
Management Non Co-Operative (91-22-67095050)
LOCATIONS
|
Registered Office : |
Colgate Research Centre, Main Street, Hiranandani Gardens Powai,
Mumbai - 400076, Maharashtra, India |
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Tel. No.: |
91-22-25705050 / 25705060 |
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Fax No.: |
91-22-25705088 |
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E-Mail : |
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Website : |
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Factory 1 : |
Plot No. B 14/10 MIDC, Waluj
Industrial Area, Aurangabad 431136, Maharashtra, India |
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Factory 2 : |
Plot No. 78, EPIP Phase I, Jharmajri, Baddi, District Solan – 174103, Himachal
Pradesh, India |
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Factory 3 : |
Plot No. 154, 158 and 160, Kundaim Industrial Estate, Kundaim – 403115, Goa, India |
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Factory 4 : |
Premises No. 44-617/11, Road No.7, IDA, Nacharam, Hyderabad - 500076, Andhra Pradesh, India |
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Factory 5 : |
Plot No. SM-02, Sanand – II, GIDC Industrial Area, Near BOI Village, Sanand - 382170, Gujarat, India |
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Factory 6 : |
6000 Central Expressway, Sricity, Satyavedu (M), Chittoor District, Andhra Pradesh, India |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Ms. V. Deoras |
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Designation : |
Chairman |
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Name : |
Ms. P. Parameshwaran |
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Designation : |
Managing Director |
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DIN No.: |
05159215 |
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Name : |
Mr. R.A. Shah |
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Designation : |
Non-executive Independent Director (Vice-Chairman) |
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Name : |
Mr. P.K. Ghosh |
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Designation : |
Non-executive Independent Director (Deputy Chairman) |
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Name : |
Mr. J.K. Setna |
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Designation : |
Non-executive Independent Director |
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Name : |
Mr. V.S. Mehta |
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Designation : |
Non-executive Independent Director |
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Name : |
Dr. I Shahani |
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Designation : |
Non-executive Independent Director |
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Name : |
Mr. G. Nthunzi |
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Designation : |
Whole Time Director and Chief Executive Officer |
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Name : |
Mr. N Ghate |
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Designation : |
Whole-time Director and Company Secretary |
KEY EXECUTIVES
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AUDIT COMMITTEE
: |
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Name : |
Mr. R. A. Shah |
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Designation : |
Chairperson of
the Committee |
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Name : |
Mr. P. K. Ghosh |
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Designation : |
Chairperson of the
Committee |
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Name : |
Mr. J. K. Setna |
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Designation : |
Chairperson of
the Committee |
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Name : |
Mr. V. S. Mehta |
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Designation : |
Chairperson of
the Committee |
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Name : |
Dr. I. Shahani |
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Designation : |
Chairperson of the
Committee |
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Name : |
Mr. N. Ghate |
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Designation : |
Secretary of the
Committee |
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MANAGEMENT
COMMITTEE : |
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Name : |
Ms. P. Parameshwaran |
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Designation : |
Managing
Director |
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Name : |
Mr. G. Nthunzi |
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Designation : |
Finance |
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Name : |
Mr. N. Ghate |
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Designation : |
Legal |
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Name : |
Mr. A. Babu |
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Designation : |
Marketing |
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Name : |
Mr. M.
Chandrasekar |
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Designation : |
Customer
Development |
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Name : |
Dr. S. Potnis |
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Designation : |
India Global
Technology Centre |
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Name : |
Mr. M. Yajid |
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Designation : |
Supply Chain
(Toothpaste) |
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Name : |
Mr. A. Singh |
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Designation : |
Human Resources |
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Name : |
Ms. S. Menon |
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Designation : |
Customer Services
& Logistics |
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Name : |
Mr. M. Mehrotra |
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Designation : |
Supply Chain
(Toothbrush) |
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SHAREHOLDERS’/INVESTORS’ GRIEVANCE COMMITTEE : |
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Name : |
Mr. J. K. Setna |
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Designation : |
Chairperson of
the Committee |
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Name : |
Ms. P. Parameshwaran |
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Designation : |
Chairperson of
the Committee |
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|
Name : |
Mr. P. K. Ghosh |
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Designation : |
Chairperson of
the Committee |
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|
Name : |
Mr. N. Ghate |
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Designation : |
Chairperson of
the Committee |
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BUSINESS
RESPONSIBILITY REPORTING COMMITTEE : |
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Name : |
Ms. P. Parameshwaran |
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Designation : |
Chairperson of
the Committee |
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Name : |
Mr. N. Ghate |
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Designation : |
Chairperson of
the Committee |
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Name : |
Mr. A. Singh |
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Designation : |
Chairperson of
the Committee |
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Name : |
Mr. M. Mehrotra |
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Designation : |
Chairperson of
the Committee |
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Name : |
Ms. H. Mehta |
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Designation : |
Head,
Communications |
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CORPORATE SOCIAL RESPONSIBILITY COMMITTEE |
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Name : |
Dr. I. Shahani
(Ms.) |
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Designation : |
Chairperson of
the Committee |
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Name : |
Ms. P. Parameshwaran |
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Designation : |
Chairperson of
the Committee |
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Name : |
Mr. N. Ghate |
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Designation : |
Chairperson of
the Committee |
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Name : |
Ms. H. Mehta |
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Designation : |
Chairperson of
the Committee |
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NOMINATION AND REMUNERATION COMMITTEE
[CONSTITUTED ON 21.01.2014] : |
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Name : |
Mr. R. A. Shah |
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Designation : |
Chairperson of
the Committee |
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Name : |
Mr. V. S. Mehta |
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Designation : |
Chairperson of
the Committee |
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Name : |
Mr. M. V. Deoras |
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Designation : |
Chairperson of
the Committee |
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RISK MANAGEMENT COMMITTEE [CONSTITUTED ON
23.05.2014] : |
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Name : |
Mr. P. K. Ghosh |
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Designation : |
Chairperson of the Committee |
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|
Name : |
Ms. P. Parameshwaran |
|
Designation : |
Chairperson of the Committee |
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|
Name : |
Mr. N. Ghate |
|
Designation : |
Chairperson of the Committee |
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|
Name : |
Mr. G. Nthunzi |
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Designation : |
Chairperson of the Committee |
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Name : |
Mr. A. Singh |
|
Designation : |
Chairperson of the Committee |
SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A)
Shareholding of Promoter and Promoter Group |
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|
(1) Indian |
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|
69356336 |
51.00 |
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|
69356336 |
51.00 |
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Total shareholding of Promoter and Promoter Group (A) |
69356336 |
51.00 |
|
(B) Public Shareholding |
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|
1744562 |
1.28 |
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|
208538 |
0.15 |
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|
149331 |
0.11 |
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|
4616314 |
3.39 |
|
|
24047384 |
17.68 |
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|
4262684 |
3.13 |
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|
4262684 |
3.13 |
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|
35028813 |
25.76 |
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|
|
|
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|
3149084 |
2.32 |
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|
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Individual shareholders holding nominal share capital up
to Rs.0.100 Million |
27256581 |
20.04 |
|
Individual shareholders holding nominal share capital in excess
of Rs.0.100 Million |
231501 |
0.17 |
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|
970502 |
0.71 |
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|
562604 |
0.41 |
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|
404678 |
0.30 |
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|
3220 |
0.00 |
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|
31607668 |
23.24 |
|
Total Public shareholding (B) |
66636481 |
49.00 |
|
Total (A)+(B) |
135992817 |
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) |
135992817 |
0.00 |
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%20LIMITED%20-%20320327_MIRA%2030-Apr-2015_files/image020.gif)
Shareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Promoter and
Promoter Group
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
Colgate Palmolive Company |
5,44,76,347 |
40.06 |
|
Colgate Palmolive Asia Pte Ltd |
1,48,79,426 |
10.94 |
|
Norwood International Incorporated |
563 |
0.00 |
|
Total |
6,93,56,336 |
51.00 |
Shareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Public and holding
more than 1% of the total number of shares
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
Life Insurance Corporation of India |
3690123 |
2.71 |
|
Oppenheimer Developing Markets Fund |
3602409 |
2.65 |
|
Arisaig Partners (Asia) Pte Ltd A/c Arisaig India Fund Ltd |
4807084 |
3.53 |
|
Virtus Emerging Markets Opportunities Fund |
1614576 |
1.19 |
|
Vontobel India Fund |
1544722 |
1.14 |
|
Total |
15258914 |
11.22 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Toothpaste and Tooth Powder, Tooth Brush and Mouth
Wash. |
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Products : |
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Brand Name : |
“COLGATE” |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
1702 (Approximately) |
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Bankers : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Price Waterhouse Chartered Accountants |
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Solicitors : |
· Crawford Bayley and Company |
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Ultimate Holding Company: |
·
Colgate-Palmolive
Company, U.S.A. |
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|
Group Companies where
common control exists : |
·
Colgate-Palmolive
(Malaysia) Mktg. SDN BHD, Malaysia ·
Colgate-Palmolive
East Africa Limited, Kenya ·
Colgate-Palmolive
Marocco Limited ·
Colgate-Palmolive
Pty. Limited, South Africa ·
Colgate-Palmolive
(Thailand) Limited ·
Colgate-Palmolive
(H.K.) Limited, Hongkong ·
Colgate-Palmolive
Management Services (H.K.) Limited ·
Colgate-Palmolive
(China) Company Limited, China ·
Colgate-Palmolive
Son Hai Limited, Vietnam ·
Colgate
Sanxiao (Consumer Products) Company Limited ·
Colgate-Palmolive
Temizlik, Urunleri, Turkey ·
Colgate-Palmolive
Cameroun S.A., Cameroun ·
Colgate-Palmolive
Romania srl. ·
Colgate-Palmolive
(Eastern) Pte. Limited, Singapore ·
Colgate-Palmolive
Industria E Commercio Ldta, Brazil ·
Colgate-Palmolive
(Asia) Pte. Limited, Singapore ·
Norwood
International Incorporated, U.S.A. ·
Colgate-Palmolive
Tanzania Limited ·
CP
Hawley and Hazel Chemical Company, (ZS) Limited ·
Colgate-Palmolive
Zambia Inc. ·
Colgate-Palmolive
Europe SARL ·
Colgate
Palmolive Bt. Limited, Blantyre, Malawi ·
Colgate
Oral Pharmaceuticals Inc. Carrollton, U.S.A. ·
Colgate-Palmolive
Senegal ·
Colgate-Palmolive
Gabon ·
Colgate-Palmolive
Italia S.r.l., Italy ·
Colgate
Philippines Inc. ·
Colgate-Palmolive
Canada Inc. ·
Colgate-Palmolive
Pty. Limited, Australia |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1370000000 |
Equity Shares |
Rs.1/- each |
Rs.1370.000 Million |
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
135992817 |
Equity Shares |
Rs.1/- each |
Rs.135.993 Million |
|
|
|
|
|
(A) Shares held by
Ultimate Holding Company and its Subsidiaries
1)
54476347 (Previous Year: 54476347)
Equity Shares are held by Colgate-Palmolive Company, U.S.A., the Ultimate
Holding Company.
2)
14879426 (Previous Year:
14879426) Equity Shares are held by Colgate-Palmolive (Asia) Pte. Limited,
Singapore, Subsidiary of the Ultimate Holding Company.
3)
563 (Previous Year:
563) Equity Shares are held by Norwood International, Incorporated, U.S.A.,
Subsidiary of the Ultimate Holding Company.
(B) Reconciliation of
the number of shares
|
Equity Shares |
Number
of Shares |
Rs. In Million |
|
Balance at the beginning of the year |
13,59,92,817 |
135.993 |
|
Issued during the year |
-- |
-- |
|
Balance at the end of the year |
13,59,92,817 |
135.993 |
(C) Details of
Shareholders holding more than 5% of the aggregate Shares in the Company
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Colgate-Palmolive Company, U.S.A. |
54476347 |
40.06 |
|
Colgate-Palmolive (Asia) Pte. Limited, Singapore |
14879426 |
10.94 |
|
Oppenheimer Developing Market Fund |
7361930 |
5.41 |
(D) Rights, Preference and Restriction attached to Shares
The Company has
one class of Equity Shares having par value of Rs.1 per share. Each Shareholder
is eligible for one vote per share held. The dividend proposed by the Board of Directors
is subject to the approval of the Shareholders in the ensuing Annual General
Meeting, except in case of interim dividend. In the event of liquidation, the
Equity Shareholders are eligible to receive the remaining assets of the Company
after distribution of all preferential amounts, in proportion to their
shareholding.
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
135.993 |
135.993 |
135.993 |
|
(b) Reserves & Surplus |
5862.793 |
4759.921 |
4217.896 |
|
(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) |
5998.786 |
4895.914 |
4353.889 |
|
|
|
|
|
|
(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 |
7.465 |
8.442 |
7.617 |
|
(d) long-term
provisions |
248.586 |
349.006 |
300.607 |
|
Total Non-current
Liabilities (3) |
256.051 |
357.448 |
308.224 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
5099.667 |
4666.198 |
3690.133 |
|
(c) Other
current liabilities |
2829.435 |
2501.798 |
2171.803 |
|
(d) Short-term
provisions |
703.560 |
646.414 |
771.925 |
|
Total Current
Liabilities (4) |
8632.662 |
7814.410 |
6633.861 |
|
|
|
|
|
|
TOTAL |
14887.499 |
13067.772 |
11295.974 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
5559.080 |
2806.632 |
2544.229 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
1415.050 |
1019.563 |
693.825 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
371.348 |
371.348 |
471.165 |
|
(c) Deferred tax assets (net) |
177.836 |
224.447 |
120.997 |
|
(d) Long-term Loan and Advances |
625.619 |
702.950 |
225.301 |
|
(e) Other
Non-current assets |
20.550 |
12.461 |
3.648 |
|
Total Non-Current
Assets |
8169.483 |
5137.401 |
4059.165 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
99.817 |
0.000 |
|
(b)
Inventories |
2257.427 |
1852.983 |
2176.799 |
|
(c) Trade
receivables |
547.342 |
812.114 |
872.657 |
|
(d) Cash
and cash equivalents |
2869.538 |
4287.963 |
3098.054 |
|
(e)
Short-term loans and advances |
1027.041 |
844.707 |
1020.741 |
|
(f) Other
current assets |
16.668 |
32.787 |
68.558 |
|
Total
Current Assets |
6718.016 |
7930.371 |
7236.809 |
|
|
|
|
|
|
TOTAL |
14887.499 |
13067.772 |
11295.974 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
35788.063 |
31638.056 |
26,932.267 |
|
|
|
Other Income |
503.206 |
499.232 |
506.851 |
|
|
|
TOTAL (A) |
36291.269 |
32137.288 |
27,439.118 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of
Materials Consumed |
11294.101 |
9915.474 |
8,938.698 |
|
|
|
Purchase of
Stock-in-Trade |
2993.815 |
2364.440 |
1,996.959 |
|
|
|
Changes in
inventories of Finished Goods,
Work-in-Progress and Stock-in-Trade |
(267.680) |
221.970 |
(433.440) |
|
|
|
Employee
Benefits Expense |
2117.775 |
2494.380 |
2,156.077 |
|
|
|
Other Expenses |
13009.949 |
10073.696 |
8,488.675 |
|
|
|
Exceptional Items |
(643.798) |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
28504.162 |
25069.960 |
21,146.969 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
7787.107 |
7067.328 |
6292.149 |
||
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
15.128 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX DEPRECIATION AND AMORTISATION (C-D) (E) |
7787.107 |
7067.328 |
6277.021 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
507.545 |
436.989 |
393.112 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
7279.562 |
6630.339 |
5883.909 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1880.862 |
1662.795 |
1419.196 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
5398.700 |
4967.544 |
4464.713 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1192.092 |
1146.821 |
1079.94 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
First Interim Dividend |
1223.935 |
1767.907 |
1087.94 |
|
|
|
Second Interim Dividend |
1223.935 |
815.957 |
1223.94 |
|
|
|
Third Interim Dividend |
1223.935 |
1223.935 |
1087.94 |
|
|
|
Dividend Tax |
624.023 |
617.720 |
551.536 |
|
|
|
Transfer to General Reserve |
539.870 |
496.754 |
446.471 |
|
|
BALANCE CARRIED
TO THE B/S |
1755.094 |
1192.092 |
1146.826 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
481.907 |
351.789 |
314.390 |
|
|
|
Services Rendered |
321.246 |
782.906 |
679.519 |
|
|
TOTAL EARNINGS |
803.153 |
1134.695 |
993.909 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1325.635 |
1126.475 |
855.125 |
|
|
|
Stores & Spares |
349.130 |
258.484 |
245.272 |
|
|
|
Capital Goods |
1261.274 |
251.256 |
60.899 |
|
|
|
Others |
88.076 |
42.825 |
294.035 |
|
|
TOTAL IMPORTS |
3024.115 |
1679.04 |
1455.331 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
39.70 |
36.53 |
32.83 |
|
QUARTERLY RESULTS
(Rs.
In Million)
|
Particulars |
30.06.2014 (Unaudited) |
30.09.2014 (Unaudited) |
31.12.2014 (Unaudited) |
|
|
1st
Quarter |
2nd
Quarter |
3rd Quarter |
|
Net Sales |
9569.000 |
10005.200 |
9960.100 |
|
Total Expenditure |
7632.400 |
8140.100 |
8014.100 |
|
PBIDT (Excluding Other Income) |
1936.600 |
1865.100 |
1946.000 |
|
Other Income |
64.500 |
99.200 |
96.600 |
|
Operating Profit |
2001.100 |
1964.300 |
2042.600 |
|
Interest |
0.000 |
0.000 |
0.000 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
2001.100 |
1964.300 |
2042.600 |
|
Depreciation |
165.500 |
177.300 |
202.800 |
|
Profit Before Tax |
1835.600 |
1787.000 |
1839.800 |
|
Tax |
486.500 |
491.200 |
531.200 |
|
Provisions and
contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
1349.100 |
1295.800 |
1308.600 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
15.09 |
15.70 |
16.58 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
21.76 |
22.34 |
23.36 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
56.33 |
57.89 |
58.78 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.21 |
1.35 |
1.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.78 |
1.01 |
1.09 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Share Capital |
135.993 |
135.993 |
135.993 |
|
Reserves & Surplus |
4217.896 |
4759.921 |
5862.793 |
|
Net
worth |
4353.889 |
4895.914 |
5998.786 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
%20LIMITED%20-%20320327_MIRA%2030-Apr-2015_files/image022.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Sales |
26932.267 |
31638.056 |
35788.063 |
|
|
|
17.473 |
13.117 |
%20LIMITED%20-%20320327_MIRA%2030-Apr-2015_files/image024.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Sales
|
26932.267 |
31638.056 |
35788.063 |
|
Profit |
4464.713 |
4967.544 |
5398.700 |
|
|
16.58% |
15.70% |
15.09% |
%20LIMITED%20-%20320327_MIRA%2030-Apr-2015_files/image026.gif)
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS ARE NOT AVAILABLE
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
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 |
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Lodging No:
ITRL/60/2009 Filing Date:
05.05.2009 |
|
Petitioner: THE COMMISSIONER OF INCOME TAX MUMBAI
Respondent: COLGATE PAMOLIVE (INDIA) LIMITED Petn. Adv : INCOME TAX TRIBUNAL (0) District: BOMBAY |
|
Bench: SINGLE Status: Pre-Admission
Category: INCOME TAX REFERENCES. Last Date: 01.12.2009
Stage: INCOME TAX REFERENCE FOR REJECTION U/R
986 OF THE H.C. (O.S) RULES 1980 Last Coram: REGISTRAR(OS)/PROTHONOTARY & SR. MASTER |
BUSINESS
PERFORMANCE
Their Country witnessed
unprecedented challenges during Financial Year 2013-14. These challenges were high inflation, including food inflation,
which rose to 13.2 per cent in the month of October 2013 and low GDP growth at 4.4
per cent along with unprecedented volatility in currency. The Reserve Bank of
India kept a tight monetary policy in the Financial Year 2013-14 and interest
rates at elevated level to bring down the
inflation. As a result of these factors and weak sentiments, consumer
confidence declined resulting in slowing down of consumption in most categories
of FMCG sector.
According to
Neilson, market researcher, FMCG growth in
Urban Market was 8 per cent, while in Rural Market, the growth was 12 per cent. Overall,
FMCG growth, as per the report, slowed down to 9 per cent in 2013, half of the
previous year as the consumers cut down on the discretionary spend or down
traded to cheaper products.
Despite such a
challenging environment and increased competitive intensity, The Company
delivered strong results.
The Company’s
business continues to grow strongly in double digits. Sales for the year
increased by 15 per cent at Rs.35448.800 Million
as against Rs.30841.100 Million during the previous year. The toothpaste
business registered a very strong volume growth of 9 per cent during the year.
The profit before tax (including exceptional
item) during the year was Rs.7279.600 Million,
an increase of 10 per cent over the
previous year. The profit after tax (including exceptional item) also increased, standing
at Rs.5398.700 Million an increase of 9 per cent over the previous year. The
Company also invested in building new plants at Anand (Gujarat) and Sricity
(Andhra Pradesh). The Company strengthened its leadership position in the
toothpaste category to 57.1 per cent from 55.4 per cent. Similarly, market
share in toothbrush category was strengthened to 42.3 per cent from 41.3 per
cent. During the year, The Company also focused on bringing in consumer
appealing innovation as well as adopting various innovative strategies to
increase the distribution and penetration in rural markets.
STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE
MONTHS ENDED 31ST DECEMBER 2014
(Rs. In Million)
|
Particulars |
Quarter Ended 31.12.2014 |
Quarter Ended 30.09.2014 |
Nine Months Ended 31.12.2014 |
|
|
UNAUDITED |
||
|
1.
Income from operations |
|
|
|
|
a) Net sales/ Income from operation (net of excise duty) |
9885.600 |
9935.700 |
29327.700 |
|
b) Other operating income |
74.500 |
69.500 |
206.600 |
|
Total
income from Operations(net) |
9960.100 |
10005.200 |
29534.300 |
|
2.Expenditure |
|
|
|
|
a) Cost of material consumed |
2988.600 |
2986.400 |
8851.800 |
|
b) Purchases of stock in trade |
687.700 |
860.300 |
2249.400 |
|
c) Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
(39.000) |
(116.900) |
(161.800) |
|
d) Employees benefit expenses |
661.100 |
680.900 |
1925.900 |
|
e) Depreciation and amortization expenses |
202.800 |
177.300 |
545.600 |
|
f) Advertising and sales expenses |
1782.100 |
2010.000 |
5597.600 |
|
g) Other expenditure |
1933.600 |
1719.400 |
5323.700 |
|
Total expenses |
8216.900 |
8317.400 |
24332.200 |
|
3. Profit from operations before other income and
financial costs |
1743.200 |
1687.800 |
5202.100 |
|
4. Other income |
96.600 |
99.200 |
260.300 |
|
5. Profit from ordinary activities before finance costs |
1839.800 |
1787.000 |
5462.400 |
|
6. Finance costs |
-- |
-- |
-- |
|
7. Net profit/(loss) from ordinary activities after
finance costs but before exceptional items |
1839.800 |
1787.000 |
5462.400 |
|
8. Exceptional item |
-- |
-- |
-- |
|
9. Profit from ordinary activities before tax
Expense: |
1839.800 |
1787.000 |
5462.400 |
|
10.Tax expenses |
531.200 |
491.200 |
1508.900 |
|
11.Net
Profit / (Loss) from ordinary activities after tax (9-10) |
1308.600 |
1295.800 |
3953.500 |
|
12.Extraordinary Items (net of tax expense) |
-- |
-- |
-- |
|
13.Net Profit / (Loss) for the period (11 -12) |
1308.600 |
1295.800 |
3953.500 |
|
14.Paid-up equity share capital (Nominal value Rs.10/- per share) |
136.000 |
136.000 |
136.000 |
|
15. Reserve excluding
Revaluation Reserves as per balance sheet of previous accounting year |
|
|
|
|
16. Basic and diluted Earnings per share (before extraordinary items)
(not annualised): |
9.62 |
9.53 |
29.07 |
|
|
|
|
|
|
A. Particulars of shareholding |
|
|
|
|
1. Public Shareholding |
|
|
|
|
- Number of shares |
66636481 |
66636481 |
66636481 |
|
- Percentage of shareholding |
49.00 |
49.00 |
49.00 |
|
2. Promoters and Promoters group Shareholding- |
|
|
|
|
a) Pledged /Encumbered |
|
|
|
|
Number of shares |
Nil |
Nil |
Nil |
|
Percentage of shares (as a % of total shareholding of the promoter
and promoter group) |
Nil |
Nil |
Nil |
|
Percentage of shares (as a % of total share capital of the
company) |
Nil |
Nil |
Nil |
|
b) Non Encumbered |
|
|
|
|
Number of shares |
69356336 |
69356336 |
69356336 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
100.00 |
100.00 |
100.00 |
|
Percentage of shares (as a % of total share capital of the
company) |
51.00 |
51.00 |
51.00 |
|
|
|
|
|
|
Pending at the beginning of the quarter |
-- |
|
|
|
Receiving during the quarter |
3 |
|
|
|
Disposed of during the quarter |
3 |
|
|
|
Remaining unreserved at the end of the quarter |
-- |
|
|
NOTES:
1. Net Sales
for the quarter and nine months ended December 31, 2014 increased by 12% over
the same period of the previous year.
2. Net
profit after tax for the quarter ended December 31, 2014 of Rs. 1308.600
Million is up by 16% over the same period of the previous year of Rs. 1128.300
Million. Net profit after tax (before exceptional item net of tax) for the nine
months ended December 31, 2014 of Rs. 3953.500 Million is up by 12% over the
same period of the previous year of Rs. 3521.900 Million.
3. The
Company had declared a second interim dividend of Rs. 1087.900 Million (Rs. 8
per share) on December 8, 2014, which was paid on December 29, 2014.
4. The
Company has identified 'Personal Care (including Oral Care)’ as its only
primary reportable segment in accordance with the requirements of Accounting
Standard (AS) - 17, Segment Reporting. Accordingly, no separate segment
information has been provided.
5. There
are no extraordinary Items.
6. Previous
period/ year figures have been reclassified, as considered necessary, to conform
with current period/ year presentation, where applicable.
The Statutory Auditors have
carried out a Limited Review of the financial results of the quarter ended
December 31, 2014 as per Clause 41 of the Listing Agreement.
The above results have been
reviewed by the Audit Committee and approved by the Board of Directors at their
respective meetings held on January 23, 2015.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90119029 |
29/12/2000 |
60,000,000.00 |
The Hongkong and Shanghai Banking Corporation Limited |
30, Rajaji Salai, Chennai, Tamil Nadu - 600001, India |
- |
|
2 |
90065019 |
30/03/2000 * |
30,000,000.00 |
Anz Grindlys Bank Limited |
90 ; M.G. Road Branch, Fort, Mumbai, Maharashtra - 400001, India |
- |
|
3 |
90118834 |
29/08/1998 |
35,000,000.00 |
The Hongkong and Shanghai Banking Corporation Limited |
52/60; Hahatma Gandhi Road, Fort, Mumbai, Maharashtra - 400001, India |
- |
|
4 |
90065440 |
31/12/1992 |
9,000,000.00 |
Anz Grindlys Bank Limited |
90 ; M.G. Road Branch, Fort, Mumbai, Maharashtra - 400001, India |
- |
|
5 |
90114951 |
08/05/1992 |
7,000,000.00 |
Anz Grindlys Bank Limited |
90 ; M.G. Road Branch, Fort, Mumbai, Maharashtra - 400001, India |
- |
|
6 |
90114915 |
30/07/1998 * |
22,500,000.00 |
ANZ GRINDLYS BANKv LIMITED |
6-3-1090; Rajbahawan Road, Somaji Guda, Hyderabad, Andhra Pradesh - 500082, India |
- |
|
7 |
90114788 |
20/07/1990 |
7,500,000.00 |
Bank of America |
P.O. No-10080, Mumbai, Maharashtra - 400001, India |
- |
|
8 |
90114725 |
08/03/1990 |
8,650,000.00 |
Bank of America |
P.O. No-10080, Mumbai, Maharashtra - 400001, India |
- |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
PRESS RELEASE:
COLGATE’S 1Q NET SALES UP 13%, NET PROFIT UP 4%
Mumbai,
July 25, 2014
Financial
Highlights
1Q 2014-15 : Colgate-Palmolive (India) Limited today reported net sales of Rs.9506.000 crore for the first quarter of
the financial year 2014-15, a 13% increase over the same period of the previous
year and Net Profit After Tax of Rs.1349.000 crore with Earnings Per Share of
Rs.9.92, an increase of 4% over the same quarter of the previous year excluding
exceptional item in the previous year relating to the slump sale of Global
Shared Services Organisation to Colgate
Global Business Services Private Limited, a 100% subsidiary of
Colgate-Palmolive Company, USA.
Driving
Growth
Colgate was ranked #1 Most Chosen Consumer Brand in India for the third
consecutive year by Global Consumer Knowledge and Insights firm, Kantar
Worldpanel’s Brand Footprint report.
Colgate has also been ranked India’s #1 Most
Trusted Brand across all categories by Brand Equity’s Most Trusted Brand Survey
for three years in a row and is the only brand to feature in the top three
since the inception of the survey twelve years ago.
The Company posted a strong volume growth of
5% for the quarter and continued to enhance its leadership position in
Toothpaste category by registering a volume market share of 57.0% for the period
Jan’14-Jun’14, an increase of 110 basis points over the same period of the
previous year. The flagship brands “Colgate Dental Cream”, “Active Salt”, “Max
Fresh” and “Colgate Total” along with the recently launched “Visible White”
have contributed to this growth.
The Company further strengthened its
leadership position in the Toothbrush category by registering a volume market
share of 42.6% for Jan’14-Jun’14, an increase of 140 basis points over the same
period of the previous year.
Innovation
During the quarter, the company launched a new toothpaste, Colgate Maximum
Cavity Protection plus Sugar Acid Neutralizer with a first of its kind
technology to fight the no.1 cause of cavities – Sugar Acids. This
technological breakthrough works in two ways- neutralizes harmful sugar acids,
the main cause of cavity formation while making teeth stronger with calcium and
fluoride.
Colgate also introduced a beauty-oral care breakthrough with the new Colgate
Visible White teeth whitening treatment. Following the phenomenal success of
the Colgate Visible White toothpaste which was voted product of the year 2014
in the toothpaste category by consumer research firm, Nielsen, a novel
whitening regimen was created to include Colgate 360 Visible White toothbrush
and mouthwash offering a holistic approach for visibly whiter teeth.
In the toothbrush category, after the
successful launch last year of the Colgate Slim Soft toothbrush with its unique
tapered bristle technology last year, the Company has launched another line
extension of this variant, Colgate Slim Soft Charcoal toothbrush with 17 times
slimmer tip bristles (versus ordinary toothbrushes) that help reach tight
spaces in between teeth and along the gum line. This striking black colored
toothbrush has unique charcoal coated bristles that help remove plaque
bacteria. These features make it very differentiated and a one of a kind in the
toothbrush category today.
The above stream of innovations reflects the
Company’s continued commitment to growing the oral care category by creating
new segments through innovation and technologically advanced products
Funding
Growth
The Company’s strong focus on driving efficiencies and reducing costs and
innovating to drive premiumisation coupled with prudent price increases has
led to significant Gross Margin expansion by 130 basis points.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.63.20 |
|
UK Pound |
1 |
Rs.97.01 |
|
Euro |
1 |
Rs.69.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
74 |
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.