MIRA INFORM REPORT
|
Report No. : |
302620 |
|
Report Date : |
14.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
UNILEVER INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unilever House, B. D. Sawant Marg, Chakala, Andheri (East), Mumbai –
400099, Maharashtra |
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|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2014 |
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|
Date of
Incorporation : |
03.10.1994 |
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Com. Reg. No.: |
11-081672 |
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Capital
Investment / Paid-up Capital : |
Rs. 400.000 Millions |
|
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|
IEC No.: |
Not Available |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1994PTC081672 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMU04088A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACU0791P |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in Research Related Activities and Carries Business Process Outsourcing Activities by Leveraging Information Technology Services to its Group Companies. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (67) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Unilever, PLC. It is a well established
company having fine track. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. 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
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
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
31-03-2014.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE (TEL. NO. 91-22-39832557)
LOCATIONS
|
Registered Office : |
Unilever House, B. D. Sawant Marg, Chakala, Andheri (East), Mumbai –
400099, Maharashtra, India |
|
Tel. No.: |
91-22-39830000/ 2374/ 2421 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on: 27.08.2014
|
Name : |
Mr. Hemant Sudarshan Bakshi |
|
Designation : |
Director |
|
Address : |
1 |
|
Date of Birth/Age : |
23.03.1964 |
|
Date of Appointment : |
13.07.2009 |
|
DIN No.: |
02362738 |
|
|
|
|
Name : |
Mr. Vilas Pandurang Sinkar |
|
Designation : |
Additional Director |
|
Address : |
C-23, |
|
Date of Birth/Age : |
01.06.1954 |
|
Date of Appointment : |
25.03.2010 |
|
DIN No.: |
02990115 |
|
|
|
|
Name : |
Mr. Devopam Narendra Bajpai |
|
Designation : |
Director |
|
Address : |
Meghdoot Tower, A Lokhandwala Back Road, Lokhandwala, Andheri (West),
Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
14.11.1965 |
|
Date of Appointment : |
30.09.2011 |
|
DIN No.: |
00050516 |
|
|
|
|
Name : |
Mr. Biddappa B.P. |
|
Designation : |
Director |
|
Address : |
Flat NO. 6, Alhambra, 3 Carmichael Road, Mumbai-400026, Maharashtra,
India |
|
Date of Birth/Age : |
13.12.1966 |
|
Date of Appointment : |
11.07.2013 |
|
DIN No.: |
06586886 |
KEY EXECUTIVES
|
Name : |
Mrs. Nehal Vadgama |
|
Designation : |
Secretary |
|
Address : |
A-12, Sugandh Apartment, B. P. Road, Near Dahisar Bridge Dahisar
(West), Mumbai – 400068, Maharashtra, India |
|
Date of Birth/Age : |
27.10.1984 |
|
Date of Appointment : |
13.03.2012 |
|
PAN No.: |
AERPV0825R |
|
|
|
|
Name : |
Mr. Raghuram Hegde |
|
Designation : |
Manager |
|
Address : |
580/1, Prathama Dhama, 14th A Cross, Bhuvaneshweri Nagar,
Kempapura, Hebbal, Bangalore-560024, Karnataka, India |
|
Date of Birth/Age : |
17.09.1959 |
|
Date of Appointment : |
18.03.2013 |
|
PAN No.: |
AABPH3996D |
MAJOR SHAREHOLDERS
As on: 27.08.2014
|
Names of Shareholders |
No. of Shares |
|
Unilever PLC – |
39999997 |
|
Unilever Overseas Holdings Limited – |
3 |
|
Total |
40000000 |
Equity Share Break up (Percentage of Total Equity)
As on: 27.08.2014
|
Category |
Percentage |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
100.00 |
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Research Related Activities and Carries Business Process Outsourcing Activities by Leveraging Information Technology Services to its Group Companies. |
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Products : |
Not Divulged |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
Not Divulged |
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Banking
Relations : |
--- |
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Auditors : |
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|
Name : |
Lovelock and Lewes Chartered Accountants |
|
Address : |
252, Swatantryaveer Savarkar Rashtriya Smarak, Veer Savarkar Marg, |
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PAN No.: |
AABFL5878L |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
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Fellow Subsidiaries : |
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CAPITAL STRUCTURE
As on: 27.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs.10/- each |
Rs. 400.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs.10/- each |
Rs. 400.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
400.000 |
400.000 |
400.000 |
|
(b) Reserves & Surplus |
2113.187 |
1616.704 |
1317.971 |
|
(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) |
2513.187 |
2016.704 |
1717.971 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
14.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
21.605 |
42.381 |
43.257 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
138.172 |
5.441 |
1.441 |
|
Total Non-current
Liabilities (3) |
159.777 |
61.822 |
44.698 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
1625.401 |
751.265 |
239.454 |
|
(c) Other current liabilities |
137.386 |
229.329 |
68.614 |
|
(d) Short-term provisions |
17.883 |
17.883 |
6.627 |
|
Total Current Liabilities
(4) |
1780.670 |
998.477 |
314.695 |
|
|
|
|
|
|
TOTAL |
4453.634 |
3077.003 |
2077.364 |
|
|
|
|
|
|
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2064.225 |
459.730 |
359.902 |
|
(ii) Intangible Assets |
5.485 |
11.894 |
0.000 |
|
(iii) Capital work-in-progress |
89.564 |
1490.580 |
155.344 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.265 |
0.265 |
258.865 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
159.669 |
117.065 |
135.262 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
2319.208 |
2079.534 |
909.373 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
25.928 |
11.818 |
0.000 |
|
(c) Trade receivables |
468.207 |
216.565 |
283.158 |
|
(d) Cash and cash equivalents |
1291.308 |
652.028 |
805.514 |
|
(e) Short-term loans and advances |
344.364 |
114.282 |
75.787 |
|
(f) Other current assets |
4.619 |
2.776 |
3.532 |
|
Total Current Assets |
2134.426 |
997.469 |
1167.991 |
|
|
|
|
|
|
TOTAL |
4453.634 |
3077.003 |
2077.364 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
NA |
NA |
1269.054 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
850.382 |
|
|
|
|
|
|
|
|
|
|
NA |
|
418.672 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
141.488 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
496.483 |
355.482 |
277.184 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1665.254 |
1309.772 |
1032.588 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2161.737 |
1665.254 |
1309.772 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
5.432 |
2.171 |
1.256 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
12.41 |
8.89 |
6.92 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
NA |
NA |
21.84 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
NA |
25.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
NA |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.01 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.20 |
1.00 |
3.71 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
400.000 |
400.000 |
400.000 |
|
Reserves & Surplus |
1317.971 |
1616.704 |
2113.187 |
|
Net
worth |
1717.971 |
2016.704 |
2513.187 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
14.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
14.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.007 |
0.000 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF LONG TERM DEBT = 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 |
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 one year |
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 |
-- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
Note: The Registered
Office of the company has been shifted from 165/166, Backbay Reclamation,
Mumbai – 400020, Maharashtra, India to the present address w.e.f. 01.01.2012
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWINGS |
|
|
|
Intercorporate Borrowings |
0.000 |
14.000 |
|
Total |
0.000 |
14.000 |
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
Note: No Charges Exist for Company
OPERATIONAL REVIEW
The Company continues to benefit from the strong foundation and long tradition of Research and Development (R and D) which differentiates us from many others. These benefits flow not only from work done in the Bangalore R and D Centre in India, but also from the centres of Unilever's global research work. With the world class facilities and a superior science and technology culture, we are able to attract the best of talent to provide significant technology differentiation to our products and processes.
The R and D programmes of the Company are focused on development of breakthrough and proprietary technologies with innovative consumer propositions. The R and D team of over 225 people comprises highly qualified scientists and technologists working in the areas of Health and Hygiene, Laundry, Household Care, Skin Care, Water Purification, Beverages and Naturals. The R and D group also comprises critical functional capability teams in the areas of Regulatory, Clinicals, Patents, Information Technology, Safety and Open Innovation functions.
Fixed Assets:
- Plant and
machinery
- Furniture and
fixtures
- Office
equipments
- Computers
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 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. 62.10 |
|
|
1 |
Rs. 94.09 |
|
Euro |
1 |
Rs. 74.41 |
INFORMATION DETAILS
|
Information
Gathered by : |
HEN |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
ASH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
67 |
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.