MIRA INFORM REPORT
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Report No. : |
329664 |
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Report Date : |
01.07.2015 |
IDENTIFICATION DETAILS
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Name : |
DABUR INDIA LIMITED |
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Registered
Office : |
8/3, Asaf Ali Road, New Delhi – 110 002 |
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Tel. No.: |
91-11-23253488 |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
16.09.1975 |
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Com. Reg. No.: |
55-007908 |
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Capital
Investment / Paid-up Capital : |
Rs.1756.500
million |
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CIN No.: [Company Identification
No.] |
L24230DL1975PLC007908 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELD01285E |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Subject is engaged in manufacturing and selling hair care, oral care, skin care, health care, home care, and food products. |
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No. of Employees
: |
Over 6000 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Aa (77) |
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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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Maximum Credit Limit : |
USD 66748000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a well-established and reputed FMCG company having fine
track record. The company possesses a healthy financial profile marked by strong
networth base along with comfortable capital structure and debt protection
metrics resulting in sound liquidity position. The ratings also take into consideration, the intensifying competition
in the FMCG industry, amid presence of organized as well as unorganized
players across various segments and product categories. However, trade relations are fair. Business is active. Payment terms
are reported as regular and as per commitments. In view of experienced promoters, established and dominant position of
the company in the market, it 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.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
CRISIL |
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Rating |
Long Term Rating : “AAA” |
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Rating Explanation |
Highest degree of safety and carry lowest
credit risk |
|
Date |
18.05.2015 |
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Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating : “A1+” |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk |
|
Date |
18.05.2015 |
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.: 91-120-3982001/ 91-11-23253488)
LOCATIONS
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Registered Office : |
8/3, Asaf Ali Road, New Delhi – 110 002, India |
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Tel. No.: |
91-11-23253488 |
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Fax No.: |
Not Available |
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E-Mail: |
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Website : |
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Corporate Office : |
Dabur Tower, Kaushambi, Sahibabad, Ghaziabad – 201 010, Uttar Pradesh,
India |
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Tel. No.: |
91-120-3982000 (30 Lines) |
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Fax No.: |
91-120-4374935/ 3962100/
39412525/ 4182100 |
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Factory 1: |
Unit I and II Plot No.22, Site IV, Sahibabad, Ghaziabad – 201 010, Uttar Pradesh,
India |
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Tel. No.: |
91-120- 3378400 (30 Lines) |
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Fax No.: |
91-120- 2779914/ 4376924 |
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Factory 2: |
Hajmola Unit 109, HPSIDC Industrial Area, Baddi, Solan – 173 205, Himachal Pradesh,
India |
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Tel. No.: |
91-1795-244385 |
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Fax No.: |
91-1795-244090 |
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Factory 3: |
Chyawanprash
Unit 220-221, HPSIDC Industrial Area, Baddi, Solan – 173 205, Himachal
Pradesh, India |
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Tel. No.: |
91-1795-244385 |
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Fax No.: |
91-1795-244090 |
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Factory 4: |
Amla/Honey Unit Village Billanwali Lavana, Baddi, Solan – 173 205, Himachal Pradesh,
India |
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Tel. No.: |
91-1795-244385 |
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Fax No.: |
91-1795-244090 |
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Factory 5: |
Shampoo Unit Village Billanwali Lavana, Baddi, Solan – 173 205, Himachal Pradesh,
India |
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Tel. No.: |
91-1795-244385 |
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Fax No.: |
91-1795-244090 |
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Factory 6: |
Toothpaste Unit Village Billanwali Lavana, Baddi, Solan – 173 205, Himachal Pradesh,
India |
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Tel. No.: |
91-1795-244385 |
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Fax No.: |
91-1795-244090 |
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Factory 7: |
Honitus/Nature
Care Unit 109, HPSIDC Industrial Area, Baddi, Solan – 173 205, Himachal Pradesh,
India |
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Tel. No.: |
91-1795-244385 |
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Fax No.: |
91-1795-244090 |
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Factory 8: |
Food Supplement
Unit 221, HPSIDC Industrial Area, Baddi, Solan – 173 205, Himachal Pradesh,
India |
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Tel. No.: |
91-1795-244385 |
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Fax No.: |
91-1795-244090 |
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Factory 9: |
Oral Care Unit 601, Malku Majra, Nalagarh Road, Baddi, Solan – 173 205, Himachal
Pradesh, India |
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Tel. No.: |
91-1795-246363 |
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Factory 10: |
Green Field Unit Village Manakpur,Tehsil Baddi, Solan – 174 101, Himachal Pradesh,
India |
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Tel. No.: |
91-1795-244385 |
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Fax No.: |
91-1795-244090 |
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Factory 11: |
Air Freshener
Unit Village Billanwali Lavana, Baddi, Solan – 173 205, Himachal Pradesh,
India |
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Tel. No.: |
91-1795-244385 |
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Fax No.: |
91-1795-244090 |
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Factory 12: |
Toothpowder Unit
Village Billanwali Lavana, Baddi, Solan – 173 205, Himachal Pradesh,
India |
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Tel. No.: |
91-1795-244385 |
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Fax No.: |
91-1795-244090 |
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Factory 13: |
Skin Care Unit Village Manakpur, Tehsil Baddi, Solan – 174 101, Himachal Pradesh,
India |
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Tel. No.: |
91-1795-244385 |
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Fax No.: |
91-1795-244090 |
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Factory 14: |
Honey Unit Village Manakpur, Tehsil Baddi, Solan – 174 101, Himachal Pradesh,
India |
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Tel. No.: |
1795-244385 |
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Fax No.: |
1795-244090 |
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Factory 15: |
Unit I and Unit
II Plot No.4, Sector-2, Integrated
Industrial Estate, Pantnagar, Udham Singh Nagar – 263 146,
Uttarakhand, India |
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Tel. No.: |
91-5944-398500 |
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Fax No.: |
91-5944-250064 |
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Factory 16: |
Unit III Plot No.16, Sector-2, Integrated Industrial
Estate, Pantnagar, District Udham Singh Nagar – 263 146, Uttarakhand, India |
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Tel. No.: |
91-5944-398500 |
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Fax No.: |
91-5944-250064 |
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Factory 17: |
Unit I, II, III
and IV Lane No.3, Phase II, SIDCO Industrial Complex, Bari Brahmna, Jammu,
India |
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Tel. No.: |
91-1923-220123/ 221970/ 222341 |
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Fax No.: |
91-1923-221970 |
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Factory 18: |
10.4 Mile Stone, NH -7, Village Padua, Katni – 483 442, Madhya
Pradesh, India |
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Tel. No.: |
7622-262317/ 262297/ 297507 |
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Factory 19: |
SP-C 162, Matsya Industrial Area, Alwar – 301 030, Rajasthan, India |
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Tel. No.: |
91-144-2881542 / 5132101 / 5132102 |
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Fax No.: |
91-144-2881302 |
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Factory 20: |
86-A, Kheda Industrial Area, Sector-3, Pithampur, District Dhar – 454
774, Madhya Pradesh, India |
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Tel. No.: |
91-7292-400046 to 51 |
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Fax No.: |
91-7292-400112 |
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Factory 21: |
9, Netaji Subhash Chandra Bose Road, P.O. - Narendrapur, Kolkata – 700
103, West Bengal, India |
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Tel. No.: |
91-33-24772324-26/ 24772620/ 24772738/ 24772740/ 32919827/ 28 |
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Fax No.: |
91-33-24772621 |
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Factory 22: |
Unit – I and II Survey No.225/4/1, Village Saily, Silvassa – 396 240, Dadra and Nagar
Haveli (UT of India), India |
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Tel. No.: |
91-260-2681071/ 72/ 73/ 74 |
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Fax No.: |
91-260-2681075 |
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Factory 23: |
G 50-59, IID Centre, NH-12,Road No.1, Newai, Tonk – 304 020, Rajasthan,
India |
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Tel. No.: |
91-1438-223342/ 223783 |
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Fax No.: |
91-1438-223010 |
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Factory 24: |
Kartowa, P.O. Mahanvita, P.S. Rajganj, Jalpaiguri – 735 135, West
Bengal, India |
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Factory 25: |
D-55, MIDC, Ambad, Nashik – 422 010, Maharashtra, India |
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Tel. No.: |
91-253-6623222 |
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Fax No.: |
91-253-2383146/ 2383577 |
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Overseas Factory : |
Rampur Tokni, District Bara,
Birgung, Nepal |
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Tel. No.: |
+97712054533 +97712054534 |
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E-Mail : |
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Located at: ·
Ahmedabad ·
Bangalore ·
Kolkata ·
Chandigarh ·
Chennai ·
Delhi ·
Guwahati ·
Hyderabad ·
Indore ·
Jaipur ·
Kochi ·
Mumbai ·
Patna ·
Raipur |
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Located at: ·
Dubai, UAE ·
Egypt ·
Bangladesh ·
Nigeria ·
London, United Kingdom ·
United States ·
Nepal ·
Kathmandu · Birganj (Nepal) |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Dr. Anand C. Burman |
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Designation : |
Chairman |
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Name : |
Mr. Amit Burman |
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Designation : |
Vice Chairman |
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Name : |
Mr. Mohit Burman |
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Designation : |
Director |
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Name : |
Mr. Saket Burman |
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Designation : |
Director |
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Name : |
Mr. P.D. Narang |
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Designation : |
Director |
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Name : |
Mr. Sunil Duggal |
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Designation : |
Director |
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Name : |
Mr. P.N. Vijay |
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Designation : |
Director |
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Name : |
Mr. R.C. Bhargava |
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Designation : |
Director |
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Date of Birth/Age : |
30.07.1934 |
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Qualification : |
MA in Development Economics, MS in Mathematics, IAS retired. |
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Expertise in specific functional area : |
He served in Indian Administrative services and has held the post of
Joint Secretary in the Ministry of Energy and in the Cabinet Secretariat. He
held various positions in Maruti Suzuki India Limited and retired in 1997 as
its CEO. At present he is Chairman of Maruti Suzuki India Limited |
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Date of Appointment : |
27.01.2005 |
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Name : |
Dr. S. Narayan |
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Designation : |
Director |
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Name : |
Mr. Albert Wiseman Paterson |
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Designation : |
Director |
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Date of Birth/Age : |
07.08.1958 |
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Qualification : |
B.Sc. (Hons) Mathematics, ACII, Post Graduate Certificate in
Education. |
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Expertise in specific functional area : |
In early stages of his career he has served in various leadership
roles in the actuarial, planning and strategy areas of the Aviva group. As a
CEO he looked into, life insurance and pension businesses and was also
responsible for a portfolio of business units of Aviva Plc. Including Turkey,
Czech Republic, Romania, Hungary and India. |
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Date of Appointment : |
30.10.2008 |
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Name : |
Dr. Ajay Dua |
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Designation : |
Director |
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Date of Birth/Age : |
15.07.1947 |
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Qualification : |
IAS (Retd.), M Sc (Eco), Ph. D. |
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Expertise in specific functional area : |
A retired civil servant, Dr. Dua joined the Indian Administrative
Service in 1971. He has held a variety of senior assignments in the
Government of Maharashtra and the Government of India. With a strong academic
background and diverse work- experience Dr Dua is currently a senior business
advisor / Board Member of several multinational firms. |
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Date of Appointment : |
03.09.2009 |
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|
|
|
Name : |
Mr. Sanjay Kumar Bhattacharyya |
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Designation : |
Director |
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Date of Birth/Age : |
31.10.1950 |
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Qualification : |
B.A (Hons.) in Economics |
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Expertise in specific functional area : |
He was the former Managing Director and Chief Credit and Risk Officer with
State Bank of India. He is an astute senior level banker with over 38 years
of experience spanning International and Corporate Banking across
geographies, Retail Banking, Credit and Risk Management, Liability
Management, Human Resource Management as CEO of three banks, including State
Bank of India, State Bank of Bikaner and Jaipur and SBI (International)
Mauritius. |
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Date of Appointment : |
23.07.2012 |
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Name : |
Ms. Falguni Sanjay Nayar |
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Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. A.K. Jain |
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Designation : |
Vice President (Finance) and Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Category of Shareholders |
No. of Shares |
Percentage of Holding |
|
(A)
Shareholding of Promoter and Promoter Group |
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|
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|
2156999 |
0.12 |
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|
1194771150 |
68.02 |
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|
1196928149 |
68.14 |
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|
315000 |
0.02 |
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|
315000 |
0.02 |
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Total
shareholding of Promoter and Promoter Group (A) |
1197243149 |
68.16 |
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(B)
Public Shareholding |
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|
2551024 |
0.15 |
|
|
14395655 |
0.82 |
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|
65922491 |
3.75 |
|
|
368149134 |
20.96 |
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|
451018304 |
25.68 |
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|
|
|
|
|
15317967 |
0.87 |
|
|
|
|
|
|
64776085 |
3.69 |
|
|
20406280 |
1.16 |
|
|
7750205 |
0.44 |
|
|
84000 |
0.00 |
|
|
6170974 |
0.35 |
|
|
611377 |
0.03 |
|
|
883854 |
0.05 |
|
|
108250537 |
6.16 |
|
Total
Public shareholding (B) |
559268841 |
31.84 |
|
Total
(A)+(B) |
1756511990 |
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) |
1756511990 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing and selling hair care, oral care, skin care, health care, home care, and food 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 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 |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Over 6000 (Approximately) |
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Bankers : |
· Standard Chartered Bank · The Hongkong and Shanghai Banking Corporation Limited · The Royal Bank of Scotland · Citibank N.A. · HDFC Bank Limited · Bank of Tokyo Mitsubishi UFJ Limited · Bank of Nova Scotia · IDBI Bank Limited |
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Facilities : |
Notes: SHORT TERM
BORROWINGS 1. There is no default in repayment of principal loan or interest thereon. 2. No Guarantee Bond has been furnished against any loan. 3. Cash Credits are secured by hypothecation of inventories and book debts to bankers in consortium ranking pari passu among Punjab National Bank, Standard Chartered Bank, Hongkong and Shanghai Banking Corporation Limited, Royal Bank of Scotland, IDBI Bank Limited, Citi Bank NA, HDFC Bank Limited, Bank of Nova Scotia and Bank of Tokyo Mitsubishi UFJ Limited. |
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Banking Relations
: |
-- |
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Financial Institution : |
Kotak
Securities Limited, 27, BKC, C 27, G Block, Bandra Kurla Complex, Bandra
(East), Mumbai – 400 051, Maharashtra, India |
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Auditors : |
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Name : |
G. Basu and Company Chartered Accountants |
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Address : |
Jebel Ali-UAE |
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Internal Auditors : |
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Price
Waterhouse and Co. LLP Chartered Accountants |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Domestic Wholly
Owned Subsidiary : |
H & B Stores Limited |
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Foreign Wholly
Owned Subsidiary : |
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Foreign Subsidiary
: |
· Asian Consumer Care Private Limited, Dhaka · Dabur Nepal Private Limited, Nepal · Asian Consumer Care Pakistan (Private) Limited, Pakistan |
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Joint Venture /Partnership : |
Forum 1 Aviation Limited |
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Other Related Parties (Sharing/
Directors in Common) : |
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CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2070000000 |
Equity Shares |
Re.1/- each |
Rs.2070.000 million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1756511990 |
Equity Shares |
Re.1/- each |
Rs.1756.500 million |
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Notes:
Reconciliation of the number of
shares
|
Particulars |
As at 31st March, 2015 |
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No. of Shares |
Rs. in Million |
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Equity Shares: |
|
|
|
Balance as at the beginning of the year |
1743813073 |
1743.800 |
|
Add: Shares issued under ESOP scheme during the year |
7409160 |
7.400 |
|
Add: Bonus shares issued under ESOP scheme during the year |
5289757 |
5.300 |
|
Balance as at the
end of the year |
1756511990 |
1756.500 |
Rights, preference and
restrictions attached to Equity Shares
i) The Company
has one class of equity shares having a par value of Re.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 the 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.
ii) Shares
of the company are ordinarily transferable provided:
a.
Instrument
of transfer is in form prescribed under the Act and duly stamped and executed
by/on behalf of transferor and transferee.
b.
Transferee
consenting or replying affirmatively within specified period of his receipt of
notice under Section 110(2) of Companies Act, 1956 issued by the company in
respect of application of transfer of registration of shares made by the
transferor.
c.
Transferee
is not of unsound mind.
d.
Company
does not have any lien on shares under application of transfer.
Details of equity shares held by shareholders
holding more than 5% shares of the aggregate shares in the company
|
Particulars |
31.03.2015 |
|
Equity shares of Re.1 held by: |
|
|
Chowdry Associates |
217941800 |
|
VIC Enterprises Private Limited |
217734000 |
|
Gyan Enterprises Private Limited |
202237980 |
|
Puran Associates Private Limited |
189212000 |
|
Ratna Commercial Enterprises Private Limited |
155233430 |
|
Milky Investment and Trading Company |
106140970 |
Shares allotted as fully paid
pursuant to contract(s) without payment being received in cash during the
period of five years immediately preceding the reporting date
|
Number of equity shares issued under merger/amalgamation
in last 5 years |
1384620 |
Shares allotted as fully paid up
bonus shares during the period of five years immediately preceding the
reporting date
|
Number of equity shares issued in last 5 years as fully
paid up bonus shares (Including shares issued under ESOP scheme part of consideration
not received in cash) |
877128782 |
Shares issued under ESOP
scheme part of consideration not being received in cash
|
Shares issued under ESOP scheme part of
consideration not being received in cash |
11797378 |
Shares reserved for issue under
options
|
Number of equity shares reserved for issue under options
contracts / commitment for sale for shares |
14095570 |
Term therein:
Options
granted to an employee are subject to cancellation under circumstances of his cessation
of employment with the company on or before vesting date.
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
1756.500 |
1743.800 |
1742.900 |
|
(b) Reserves & Surplus |
21605.400 |
17279.600 |
13913.200 |
|
(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) |
23361.900 |
19023.400 |
15656.100 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
8.400 |
|
(b) Deferred tax liabilities (Net) |
503.500 |
426.400 |
341.800 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
427.900 |
401.400 |
392.800 |
|
Total Non-current Liabilities (3) |
931.400 |
827.800 |
743.000 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
1291.300 |
442.900 |
2407.400 |
|
(b) Trade payables |
7566.400 |
7046.700 |
5736.100 |
|
(c) Other current liabilities |
1702.200 |
1473.000 |
1356.200 |
|
(d) Short-term provisions |
2030.400 |
2404.200 |
2085.700 |
|
Total Current Liabilities (4) |
12590.300 |
11366.800 |
11585.400 |
|
|
|
|
|
|
TOTAL |
36883.600 |
31218.000 |
27984.500 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
6624.300 |
6422.600 |
6037.100 |
|
(ii) Intangible Assets |
200.900 |
113.900 |
128.700 |
|
(iii) Capital work-in-progress |
122.200 |
167.300 |
170.700 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
14070.000 |
5547.500 |
2607.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
123.000 |
148.500 |
135.400 |
|
(e) Other Non-current assets |
20.000 |
0.000 |
380.000 |
|
Total Non-Current Assets |
21160.400 |
12399.800 |
9458.900 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
3711.700 |
5636.700 |
7654.500 |
|
(b) Inventories |
5506.000 |
5582.000 |
5003.200 |
|
(c) Trade receivables |
3387.900 |
3231.200 |
2553.200 |
|
(d) Cash and cash equivalents |
1239.400 |
2974.700 |
1683.900 |
|
(e) Short-term loans and advances |
1140.800 |
846.200 |
1038.300 |
|
(f) Other current assets |
737.400 |
547.400 |
592.500 |
|
Total Current Assets |
15723.200 |
18818.200 |
18525.600 |
|
|
|
|
|
|
TOTAL |
36883.600 |
31218.000 |
27984.500 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations (Net) |
54312.800 |
48700.800 |
43493.900 |
|
|
|
Other Income |
1378.500 |
1096.600 |
942.300 |
|
|
|
TOTAL |
55691.300 |
49797.400 |
44436.200 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
19210.900 |
18179.800 |
16580.500 |
|
|
|
Purchases of stock-in-trade |
9372.500 |
7569.700 |
6302.900 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and stock-in-trade |
(322.500) |
(123.200) |
256.200 |
|
|
|
Employees benefits expenses |
3929.900 |
3439.300 |
3054.300 |
|
|
|
Other expenses |
12737.000 |
11378.900 |
10071.100 |
|
|
|
Exceptional Items |
239.600 |
0.000 |
0.000 |
|
|
|
Extraordinary Items |
0.000 |
7.200 |
0.000 |
|
|
|
TOTAL |
45167.400 |
40451.700 |
36265.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
10523.900 |
9345.700 |
8171.200 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
98.900 |
193.500 |
184.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
10425.000 |
9152.200 |
7987.200 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
659.700 |
538.900 |
490.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
9765.300 |
8613.300 |
7496.700 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2139.500 |
1892.300 |
1586.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
7625.800 |
6721.000 |
5909.800 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
13350.200 |
10900.300 |
8641.100 |
|
|
|
|
|
|
|
|
|
|
Transferred from General Reserve |
5.300 |
0.400 |
0.400 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transitional
adjustment on account of Depreciation (Net of Deferred Tax Rs.18.900 million,
PY: Nil) |
36.800 |
0.000 |
0.000 |
|
|
|
Transferred to General Reserve |
800.000 |
700.000 |
600.000 |
|
|
|
Bonus shares |
5.300 |
0.400 |
0.400 |
|
|
|
Interim Dividend |
2195.500 |
1307.900 |
1132.900 |
|
|
|
Proposed Final Dividend |
1317.400 |
1743.800 |
1481.500 |
|
|
|
Corporate Tax on Final Dividend |
268.200 |
296.400 |
251.800 |
|
|
|
Corporate Tax on Interim Dividend |
373.100 |
222.300 |
183.800 |
|
|
|
Dividend adjustments of earlier years |
12.500 |
0.600 |
0.500 |
|
|
|
Dividend tax adjustment of earlier years |
2.100 |
0.100 |
0.100 |
|
|
BALANCE CARRIED
TO THE B/S |
15970.400 |
13350.200 |
10900.300 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Sales at FOB |
1999.200 |
2197.200 |
2578.700 |
|
|
TOTAL EARNINGS |
1999.200 |
2197.200 |
2578.700 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
264.000 |
236.300 |
224.300 |
|
|
|
Stores & Spares (including packing material) |
22.500 |
21.500 |
18.500 |
|
|
|
Finished Goods |
376.600 |
120.800 |
5.500 |
|
|
|
Capital Goods |
66.700 |
1.500 |
66.100 |
|
|
TOTAL IMPORTS |
729.800 |
380.100 |
314.400 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
|
|
|
|
|
|
- Basic |
4.35 |
3.85 |
3.39 |
|
|
|
- Diluted |
4.32 |
3.83 |
3.37 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
4.600 |
|
Cash Generated From
Operating Activities |
10432.900 |
8907.300 |
8507.100 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
14.04 |
13.80 |
13.59 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
19.38 |
19.19 |
18.79 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
43.04 |
33.77 |
29.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.42 |
0.45 |
0.48 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.06 |
0.02 |
0.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.25 |
1.66 |
1.60 |
STOCK
PRICES
|
Face Value |
Rs.1.00 |
|
Market Value |
Rs.277.10 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
1742.900 |
1743.800 |
1756.500 |
|
Reserves & Surplus |
13913.200 |
17279.600 |
21605.400 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
15656.100 |
19023.400 |
23361.900 |
|
|
|
|
|
|
Long-term borrowings |
8.400 |
0.000 |
0.000 |
|
Short term borrowings |
2407.400 |
442.900 |
1291.300 |
|
Current maturities of long-term debts |
4.600 |
0.000 |
0.000 |
|
Total borrowings |
2420.400 |
442.900 |
1291.300 |
|
Debt/Equity ratio |
0.155 |
0.023 |
0.055 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Revenue from Operations
(Net) |
43493.900 |
48700.800 |
54312.800 |
|
|
|
11.972 |
11.523 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Revenue from Operations
(Net) |
43493.900 |
48700.800 |
54312.800 |
|
Profit |
5909.800 |
6721.000 |
7625.800 |
|
|
13.59% |
13.80% |
14.04% |
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 |
Yes |
|
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 |
Yes |
|
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 |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION
DETAILS:
|
Case Details |
|
Bench:-Bombay |
||
|
Presentation Date:- |
25/06/2015 |
||||||||
|
Lodging
No.:- |
NMSL/1655/2015 |
Filing
Date:- |
25/06/2015 |
||||||
|
Main Matter |
|
Lodging
No.:- |
CCL/635/2015 |
Respondent:- |
DABUR INDIA LIMITED |
|
|
|
|
|
|
|
|
|
Petitioner:- |
MANDOM CORPORATION AND ANR- |
|
|
|
|
|
|
|
|
|
|
Petn.
Adv.:- |
PKA ADVOCATES (I2307) |
|
|
|
|
|
|
|
|
|
District:- |
MUMBAI |
|
Bench:- |
SINGLE |
||||
|
Status:- |
Pre-Admission |
Category:- |
NOTICE OF MOTION. |
|
Act :- |
Code of Civil Procedure 1908 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2015 (Rs.
In Million) |
31.03.2014 (Rs.
In Million) |
|
SHORT TERM
BORROWINGS |
|
|
|
Packing Credit Loan from Bank |
1124.500 |
265.000 |
|
Bank Overdrafts |
9.400 |
0.000 |
|
Total |
1133.900 |
265.000 |
COMPANY INFORMATION
The Company is a domestic public
limited company and is listed on the Bombay Stock Exchange Limited [BSE],
National Stock Exchange of India Limited [NSE] and Metropolitan Stock Exchange
of India Limited [mSXI] (formerly known as MCX). The company is one of the
leading FMCG players dealing in consumer care and food products. The Company
has manufacturing facilities across the length and breadth of the country and
Research and Development center in U.P. (Sahibabad), selling arrangements being
primarily in India through independent distributors except for institutional
sales which are handled directly by the company.
MANAGEMENT
DISCUSSION AND ANALYSIS
The
dark clouds seemed to have finally lifted and the Indian Economy appeared in a brighter
spot towards the close of the 2014-15 fiscal. From almost staring at a
macro-economic crisis at the beginning of the fiscal year, aggravated by
double-digit Inflation, severe dip in investor confidence and a weak Rupee, the
tide changed with the emergence of political stability at the Centre that
brought back the bulls into the stock markets, hinting the emergence of
stability. The general mood too turned upbeat as economic reforms got a push.
According
to an update of its World Economic Outlook by International Monetary Fund
(IMF), India is set to become the world’s fastest-growing major economy ahead
of China, in the next couple of years. India is expected to grow at 7.5% in
2015 and 2016 as per recent updates issued by IMF.
The
CSO data for FY2014-15 also indicates signs of revival with GDP growth forecast
for FY2014-15 improving to 7.4%.
The
recent decline in crude prices has been favorable for India which imports
almost 80% of its domestic oil needs. This has led to reduced imports, curtailed
inflationary pressures and helped the government’s finances by reducing its
subsidy bill. India’s consumer inflation, which had been stubbornly high in the
double digits between 2010 and 2013, has come down to about 5% currently, in
part due to the RBI’s tight monetary policy and sharp decline in commodity
prices. From November 2014 onwards the WPI has started to show deflationary
trends. Cooling of inflation is generally a positive indicator for consumption
and demand and has helped reduce pressure on margins across industry.
PERFORMANCE
OVERVIEW
Subject braved the macro headwinds and overall slowdown in market to
deliver a steady growth in Sales and Profit during 2014-15 financial year.
Reaping the benefits of its distribution enhancement initiatives and strong
investment behind its brand, Dabur reported good growth momentum across its key
categories and geographies with both the Domestic FMCG business and the
International Business reporting a steady volume driven growth despite the
challenging external environment.
Subject braved the macro headwinds and overall slowdown in market to
deliver a steady growth in Sales and Profit during 2014-15.
INDEX
OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10560147 |
19/03/2015 |
9,900,000.00 |
KOTAK SECURITIES LIMITED |
27, BKC, C 27, G BLOCK,
BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI - 400051, MAHARASHTRA, INDIA |
C49485071 |
|
2 |
10560139 |
27/11/2014 |
19,800,000.00 |
KOTAK SECURITIES LIMITED |
27, BKC, C 27, G BLOCK,
BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI - 400051, MAHARASHTRA, INDIA |
C49484009 |
|
3 |
10036700 |
05/02/2014 * |
1,575,000,000.00 |
PUNJAB NATIONAL BANK |
NSIC BHAWAN, OKHLA
INDUSTRIAL ESTATE, NEW DELHI, |
B96075569 |
|
4 |
90222864 |
09/03/1998 |
500,000.00 |
UNION BANK OF INDIA |
PEDDAR ROAD BRANCH; RAJIA
HOSUE NO. 2, KEMPS CORNER, BOMBAY - 400026, MAHARASHTRA, INDIA |
- |
|
5 |
90222069 |
03/03/2000 * |
1,000,000.00 |
UNION BANK OF INDIA |
PEDDAR ROAD BRANCH; RAJIA
HOSUE NO.2, KEMPS CORNER, BOMBAY - 400026, MAHARASHTRA, INDIA |
- |
* Date of charge modification
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2015 (Rs. In Million) |
31.03.2014 (Rs. In Million) |
|
Claims against the company not
acknowledged as debts: |
|
|
|
1. Civil cases filed against the company |
79.300 |
217.800 |
|
2. Claims by employees |
8.600 |
7.200 |
|
3. Excise duty/service tax matters |
1332.400 |
1365.300 |
|
4. Sales tax matters |
448.900 |
179.100 |
|
5. Income tax matters |
3.700 |
93.500 |
|
Total |
1872.900 |
1862.900 |
FIXED ASSETS:
Tangible Assets
· Land: Leasehold
· Land: Freehold
· Building
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
Intangible Assets
· Brands/Trademarks
· Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts, 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.63.75 |
|
UK Pound |
1 |
Rs.100.12 |
|
Euro |
1 |
Rs.71.20 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILITY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--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 |
|
77 |
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.