MIRA INFORM REPORT
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Report No. : |
337501 |
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Report Date : |
20.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
L'OREAL INDIA PRIVATE LIMITED (w.e.f. 04.07.2000) |
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Formerly Known
As : |
INDELOR INDIA PRIVATE LIMITED (w.e.f. 04.07.1996) LABORATORIES GARNIER ( |
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Registered
Office : |
A-Wing, 8th Floor, Marathon Furutex, N M Joshi Marg, Lower Parel, Mumbai – 400013, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.12.2013 |
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Date of
Incorporation : |
19.02.1991 |
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Com. Reg. No.: |
11-060363 |
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Capital
Investment / Paid-up Capital : |
Rs. 3063.740 Million |
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CIN No.: [Company Identification
No.] |
U85190MH1991PTC060363 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUML01908E |
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PAN No.: [Permanent Account No.] |
AAACC0738K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing, Importing, Selling, Exporting and
Trading in all kinds of Cosmetics, Toiletries, Personal and Health Care
Products. |
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No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (72) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
L'Oreal Group is a French cosmetics and beauty company and it is the world’s largest cosmetics company which has developed activities in the field of cosmetics, concentrating on hair colour, skin care, sun protection, make-up, perfumes and hair care. L’Oreal Group Ranked 92 in the Global 500 companies with brand value of $12,480m along with Enterprises value of $32210m. With regard to Indian operations, company possesses healthy operational risk profile marked by its strong operating efficiencies along with adequate financial base and strong liquidity profile of the company. Moreover, rating also takes into account of company’s diversified products portfolio backed by its global footprints in cosmetic segment and decent brand recognition as “L’Oreal” among the customer worldwide. Trade relations are reported as decent. Payments are reported to be regular and as per commitment. In view of strong business profile backed by experienced management team, company can be consider good for any business dealing at usual trade terms and conditions. Note: Management has not files its latest financial
information for the year 2014. |
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
|
Rating Agency Name |
Not Available |
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Rating |
Not Available |
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Rating Explanation |
Not Available |
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Date |
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
31-03-2013 .
INFORMATION DECLINED
Management Non-Cooperative (Tel. No.: 91-22-24983000)
LOCATIONS
|
Registered
Office : |
A-Wing, 8th Floor, Marathon Furutex, N M Joshi Marg, Lower Parel, Mumbai – 400013, Maharashtra, India |
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Tel. No.: |
91-22-67003000 |
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Fax No.: |
91-22-67003160 |
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E-Mail : |
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Website : |
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Factory 1 : |
Gut No. 426, |
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Factory 2 : |
Located at ·
Umergaon, |
DIRECTORS
As on 30.06.2014
|
Name : |
Pierre Yves Thomas Arzel |
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Designation : |
Director |
|
Address : |
21, Union Park, Pali Hill Road, Khar (West), Mumbai –
400052, Maharashtra, India |
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Date of Birth/Age : |
18.12.1958 |
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Date of Appointment : |
22.06.2012 |
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DIN No. : |
05311423 |
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Name : |
Jean Christophe Pierre Andre Letellier |
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Designation : |
Managing director |
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Address : |
11th And 12th Floor, Kismat,, Perry
Cross Road, Bandra (West), Mumbai, 400050, Maharashtra, India |
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Date of Birth/Age : |
08.10.1970 |
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Date of Appointment : |
01.08.2013 |
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DIN No. : |
06647561 |
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Name : |
Mr. Thomas Huaut |
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Designation : |
Additional Director |
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Address : |
Flat nos 601 and 701, Kavarana Villa, Almeida Park, Off Turner Road, Bandra (West), Mumbai, 400050, Maharashtra, India |
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Date of Appointment : |
08.07.2015 |
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DIN No. : |
07231395 |
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Name : |
Laurent Francois Marcel Schmitt |
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Designation : |
Director |
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Address : |
11, Boulevard Du General Koenig, Neuilly Sur Seine, 92200,
France |
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Date of Birth/Age : |
24.04.1964 |
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Date of Appointment : |
18.09.2013 |
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DIN No. : |
02007196 |
KEY EXECUTIVES
|
Name : |
Mr. Padmalochan Mishra |
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Designation : |
Secretary |
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Address : |
Emp -71, Sector-1, Moon Building, Flat No- 403, Thakur
Village, Kandivali (East), Mumbai - 400101, Maharashtra, India |
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Date of Birth/Age : |
13.06.1968 |
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Date of Appointment : |
01/02/2003 |
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PAN No.: |
AHOPM2112Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2014
|
Names of Shareholders |
No. of Shares |
|
L’Oreal SA, France |
306374444 |
|
Holdial, France |
1 |
|
Total |
306374445 |
As on 30.06.2014
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 : |
Manufacturing, Importing, Selling, Exporting and
Trading in all kinds of Cosmetics, Toiletries, Personal and Health Care
Products. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS (AS ON 31.12.2011)
|
Particulars |
Unit |
Installed
Capacity (In ‘000s) |
Actual
Production (In ‘000s) |
|
Cosmetics – Hair Care* |
Bottles |
174459 |
71303 |
|
Cosmetics – Skin Care |
Units |
117622 |
60475 |
|
Cosmetics – Hair Colour |
Units |
68344 |
44763 |
* includes Nil
units manufactured by others on behalf of the Company.
NOTES:
- Information on licensed capacity is not furnished in view of
withdrawal of licensing requirements vide gazette notification S.O.477 (E)
dated 25/07/1991.
- The installed capacities are as per certificates given by the
management, on which the auditors have relied.
- Actual production units for items manufactured with pack size of 10
ML or less are equated to 1 unit.
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by management |
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Bankers : |
ICICI Bank, Lower Parel Branch, Mumbai, Maharashtra, India |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
Heritage, 3rd Floor, New Gujarat Vidhyapith, Off Ashram, Ahmedabad –380014, Gujarat, India |
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Tel. No. : |
91-79-27582542/27582543 |
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Fax No. : |
91-79-27582551 |
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Income-tax
PAN of auditor or auditor's firm : |
AABFD7919A |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company : |
L’Oreal SA, France |
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Subsidiary : |
Holdial, France |
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Fellow Subsidiaries
: |
· Areca and Cie · Banque de Réalisations de Gestion et de Financement (Regefi) · Beauté Créateurs · Beauté, Recherche and Industries · Beautycos International Co. Limited · Beautylux International Cosmetics (Shanghai) Co. Limited · Biotherm · Canan Kozmetik Sanayi Ve Ticaret A.S. · Centre Logistique d?Essigny · Centrex · Chimex · Cobelsa Cosmeticos, S.A. · Colainaf · Compagnie Thermale Hôtelière et Financière · Cosbel S.A. de C.V. · Cosmelor KK · Cosmelor Limited · Cosmephil Holdings Corporation Philippines · Cosmeplas S.A.S · Cosmetil · Cosmétique Active France · Cosmétique Active International · Cosmétique Active Production · Egyptelor LLC · Elebelle (Pty) Limited · EpiSkin · Erwiton S.A. · Exclusive Signatures International · Fapagau and Cie · Faprogi · Finval · Frabel S.A. de C.V. · Gemey Maybelline Garnier · Gemey Paris ? Maybelline New York · Goldys International · Helena Rubinstein · Helena Rubinstein Italia S.p.A · Holdial · Hygiene Beaute Distribution France · Kosmepol Sp z.o.o · L and J Ré · LOA1 · LOA3 · La Roche-Posay Laboratorie Pharmaceutique · Laboratorie Sanoflore · Laboratorios de cosmeticos Vogue S.A.S · Lai Mei Cosmetics International Trading (Shangai) Co. Limited · Lancome Parfums and Beaute and Cie · LaScad · Le Club des Createurs de Beaute · Lehoux et Jacque · LOreal Adria d. o. o. · LOreal Argentina S. A. · LOreal Australia Pty Limited · LOreal Balkan d. o. o. · LOréal Baltic SIA · LOréal Belgilux S.A. · LOréal Brasil Comercial de Cosméticos Ltda · LOréal Brasil Licenciamentos Empresariais, Cosmeticos e Perfumes Ltda · LOréal Bulgaria EOOD · LOréal Canada, Inc. · LOreal Central America · LOréal Central West Africa · LOréal Ceska Republika s.r.o · LOréal Chile S.A. · LOreal (China) Co. Limited · LOréal Colombia S.A. · LOréal Cosmetics Industry SAE · LOréal Danmark A/S · LOréal Deutschland GmbH · LOréal East Africa Limited · LOréal Egypt LLC · LOréal España S.A. · LOréal Finland Oy · LOréal Guatemala S.A. · LOréal Hellas S.A. · LOréal Hong Kong Limited · LOréal Investments B.V. · LOréal Israel Limited · LOréal Italia S.p.A · LOréal Japan Limited · LOréal Kazakhstan LLP · LOréal Korea Limited · LOréal Liban SAL · LOréal Libramont · LOréal Magyarorszag Kozmetikai Kft · LOréal Malaysia SDN BHD · LOréal Manufacturing Midrand Pty Limited · LOreal Maroc · LOréal Mexico S.A. de C.V. · LOréal Mexico Servicios S.A. de C.V. · LOréal Middle East · LOréal Nederland B.V. · LOréal New Zealand Limited · LOréal Norge A/S · LOréal Österreich GmbH · LOréal Pakistan Private Limited · LOréal Panama S.A. · LOréal Peru S.A. · LOréal Philippines, Inc. · LOréal Polska Sp z.o.o · LOréal Portugal, Lda · LOréal Produits de Luxe France · LOréal Produits de Luxe International · LOréal Produktion Deutschland Beteiligung GmbH · LOréal Produktion Deutschland GmbH and Co.Kg · LOréal Romania SRL · LOréal Saipo Industriale S.p.A · LOreal Saudi Arabia · LOréal Singapore Pte Limited · LOréal Slovenija Kozmetika d.o.o · LOréal Slovensko s.r.o · LOréal SLP S.A. de C.V. · LOréal South Africa Holdings Pty Limited · LOréal Suisse S.A. · LOréal Sverige AB · LOréal Taiwan Co. Limited · LOréal Thailand Limited · LOréal Turkiye Kozmetik Sanayi Ve Ticaret · Anonim Sirketi · LOréal UK Limited · LOréal Ukraine · LOreal Uruguay S. A. · LOréal USA, Inc. (Sous- groupe) · LOréal Venezuela, C.A. · LOréal Verwaltungs GmbH · LOréal Vietnam Co. Limited · LOréal West Africa Limited · Masrelor LLC · Matrix Distribution GmbH · Nihon LOréal K.K. · NLO K.K. · P.T. LOréal Indonesia · P.T. Yasulor Indonesia · Parbel of Florida, Inc. · Parfums Cacharel and Cie · Parfums Guy Laroche · Parfums Paloma Picasso and Cie · Parfums Ralph Lauren · Prestige et Collections International · Procosa Productos de Beleza Ltda · Productos Capilares LOréal S.A. · Redken France · Roger and Gallet · SLP Asistencia S.A. de C.V. · Scental Limited · Shu Uemura Cosmetics Inc. · Sicôs and Cie · Société de Développement Artistique · Société Hydrominérale de La Roche-Posay · Sofamo · Soprocos · Soproréal · Sparlys · The Body Shop (sous-groupe) · Venprobel · Viktor and Rolf Parfums · Yichang Tianmei International Cosmetics Co. Limited · YSL Beauté · YSL Beauté Vostok o.o.o. · Zao L?Oréal |
CAPITAL STRUCTURE
As on 31.12.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
381,500,000 |
Equity Shares |
Rs.10/- each |
Rs. 3815.000 Million |
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
306,374,445 |
Equity Shares |
Rs.10/- each |
Rs. 3063.740 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2013 |
31.12.2012 |
31.12.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
3063.740 |
2963.740 |
2963.740 |
|
(b) Reserves & Surplus |
1508.520 |
310.960 |
(75.220) |
|
(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) |
4572.260 |
3274.700 |
2888.520 |
|
|
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|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
39.660 |
39.660 |
39.660 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
180.650 |
18.390 |
16.290 |
|
(d) Long-term
provisions |
114.740 |
54.580 |
17.240 |
|
Total Non-current
Liabilities (3) |
335.050 |
112.630 |
73.190 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
800.420 |
535.000 |
221.570 |
|
(b) Trade
payables |
5034.670 |
3860.020 |
2907.620 |
|
(c) Other
current liabilities |
827.820 |
673.550 |
566.580 |
|
(d) Short-term
provisions |
289.980 |
211.620 |
164.140 |
|
Total Current
Liabilities (4) |
6952.890 |
5280.190 |
3859.910 |
|
|
|
|
|
|
TOTAL |
11860.200 |
8667.520 |
6821.620 |
|
|
|
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|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
3632.680 |
3261.290 |
2594.900 |
|
(ii)
Intangible Assets |
1166.890 |
103.120 |
102.100 |
|
(iii)
Capital work-in-progress |
606.480 |
539.360 |
463.840 |
|
(iv)
Intangible assets under development |
0.000 |
36.890 |
6.540 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
175.740 |
203.310 |
75.700 |
|
(d)
Long-term Loan and Advances |
731.810 |
604.580 |
542.130 |
|
(e) Other
Non-current assets |
2.030 |
2.030 |
2.030 |
|
Total Non-Current
Assets |
6315.630 |
4750.580 |
3787.240 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2725.020 |
2383.150 |
1964.830 |
|
(c) Trade
receivables |
1678.430 |
856.590 |
648.770 |
|
(d) Cash
and cash equivalents |
37.820 |
61.160 |
29.620 |
|
(e)
Short-term loans and advances |
1094.100 |
603.900 |
350.070 |
|
(f) Other
current assets |
9.200 |
12.140 |
41.090 |
|
Total
Current Assets |
5544.570 |
3916.940 |
3034.380 |
|
|
|
|
|
|
TOTAL |
11860.200 |
8667.520 |
6821.620 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2013 |
31.12.2012 |
31.12.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
651.700 |
442.560 |
374.343 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
447.560 |
386.180 |
586.715 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
|
|
|
899.773 |
|
|
|
Reimbursement of Expenses |
|
|
145.807 |
|
|
|
Miscellaneous Income |
|
|
3.362 |
|
|
TOTAL EARNINGS |
1913.840 |
1142.750 |
1048.942 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
534.011 |
|
|
|
Stores & Spares |
NA |
NA |
2.448 |
|
|
|
Finished Goods |
NA |
NA |
774.451 |
|
|
|
Capital Goods |
NA |
NA |
183.208 |
|
|
TOTAL IMPORTS |
NA |
NA |
1494.118 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1.46 |
1.30 |
1.98 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.12.2013 |
31.12.2012 |
31.12.2012 |
|
Current Maturities of Long term debt |
N.A |
N.A |
N.A |
|
Cash generated from operations |
N.A |
N.A |
N.A |
|
Net cash flow from operating activity |
1053.050 |
1330.090 |
1060.550 |
KEY RATIOS
|
PARTICULARS |
|
31.12.2013 |
31.12.2012 |
31.12.2012 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.18 |
0.18 |
0.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.80 |
0.74 |
0.79 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
2963.740 |
2963.740 |
3063.740 |
|
Reserves & Surplus |
(75.220) |
310.960 |
1508.520 |
|
Net
worth |
2888.520 |
3274.700 |
4572.260 |
|
|
|
|
|
|
long-term borrowings |
39.660 |
39.660 |
39.660 |
|
Short term borrowings |
221.570 |
535.000 |
800.420 |
|
Total
borrowings |
261.230 |
574.660 |
840.080 |
|
Debt/Equity
ratio |
0.090 |
0.175 |
0.184 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
|
HIGH COURT OF BOMBAY |
||||||
|
CASE DETAILS |
||||||
|
BENCH:- BOMBAY |
||||||
|
PRESENTATION DATE:-24.03.2015 |
||||||
|
LODGING NO:- NMAL/877/2015 |
FILING DATE:- 24.03.2015 |
REG. NO.: NMA/973/2015 |
REG. DATE: 04.07.2015 |
|||
|
MAIN MATTER LODGING
NO.:- CEXAL/71/2015 |
||||||
|
PETITIONER:- |
THE COMMISSIONER OF CENTRAL EXCIS |
RESPONDENT:- |
LOREAL INDIA PRIVATE LIMITED |
|||
|
PETN.ADV:- |
JITENDRA BRIJBHUSHAN MISHRA (12937) |
|||||
|
DISTRICT:- |
MUMBAI |
|||||
|
BENCH:- |
DIVISION |
|
|
|||
|
STATUS:- |
PRE-ADMISSION |
CATEGORY:- |
NOTICE OF MOTION (APPEAL) |
|||
|
ACT:- |
CENTRAL EXCISE AND SALT ACT |
|||||
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
UNSECURED LOANS
(Rs.
In Million)
|
PARTICULAR |
31.12.2013 (Rs.
In Million) |
31.12.2012 (Rs.
In Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Deferred sales tax loan |
39.660 |
39.660 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Loans repayable on demand from banks |
800.420 |
535.000 |
|
Total |
840.080 |
574.660 |
NOTE
LONG TERM BORROWINGS
(Pursuant to the "Certificate of Entitlement" for new unit for availing Sales Tax Incentive under the 1993 Scheme as notified under Government of Maharashtra Resolution No.: IDL-1093/(8889)/IND-8 Dated 7th May 1993. The deferment of the liability is available in respect of goods manufactured in the eligible unit from 1st February, 2006 to 31st August, 2012 or up to Rs. 39.780 Millions whichever is earlier).
CORPORATE
INFORMATION
Company is in the business of manufacturing, importing, selling,
exporting and trading in all kinds of cosmetics, toiletries, personal and
health care products.
OPERATING RESULTS
The Accounts of the Company for the year showed a profit of Rs. 447.560
Million after providing Rs. 651.700 Million for depreciation.
The performance of the Company has been steadily improving. It has taken
various steps to achieve higher volumes and to grow its income whilst
controlling costs.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.12.2013 (Rs.
In Million) |
31.12.2012 (Rs. In Million) |
|
a. Claims lodged
against the Company but not acknowledged as debts |
|
|
|
Income Tax Matters |
847.750 |
0.000 |
|
Indirect Tax Matters |
622.960 |
532.000 |
|
Claim raised by SBI Factor - Pune against forgery Committed |
0.000 |
6.480 |
|
|
|
|
|
b. Import duties saved by the Company against obligation to export incurred under EPCG and Advance License schemes availed |
114.940 |
167.930 |
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
· Brands and Trade Marks
· Computer Softwar
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.25 |
|
|
1 |
Rs.102.25 |
|
Euro |
1 |
Rs.72.19 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
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 |
NO |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
72 |
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.