MIRA INFORM REPORT
|
Report No. : |
351556 |
|
Report Date : |
26.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
PARLE AGRO PRIVATE LIMITED (w.e.f.16.04.2001) |
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|
Formerly Known
As : |
PARLE AGRO LIMITED |
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Registered
Office : |
Western Express Highway, Andheri (East), Mumbai - 400099, Maharashtra |
|
Tel. No.: |
91-22-67348000 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
26.12.1985 |
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Com. Reg. No.: |
11-038459 |
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Capital
Investment / Paid-up Capital : |
Rs. 82.000 Million |
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CIN No.: [Company Identification
No.] |
U15130MH1985PTC038459 |
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IEC No.: |
0390030929 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
MUMM19663A |
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PAN No.: [Permanent Account No.] |
AAACP8416G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Fruit Beverages, Packaged Drinking Water, PET Preforms, Caps, Handles, Confectionery and Snacks Food Items. |
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No. of Employees
: |
2500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Parle Agro Private Limited incorporated in 1985 and is based in
Mumbai, Maharashtra. It is having good track. Available financial indicated sound financial risk profile marked by
healthy net worth base and comfortable liquidity position of the company. The rating also takes into consideration company’s established market
position and brand image. Moreover, this rating strength is partially offset by continuous
losses incurred by the company from its two years of business operation. Trade relations are reported as fair. Business is active. Payments are
reported as regular and as per commitments. In view of strong brand image “PARLE” and established track record of
business operation, the company can be considered normal for business dealings
at usual trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Suni Nair |
|
Designation : |
Deputy General Manager – Finance
|
|
Contact No.: |
91-22-67348000 |
|
Date : |
23.11.2015 |
LOCATIONS
|
Registered/ Head Office : |
Western Express Highway, Andheri (East), Mumbai – 400099,
Maharashtra, India |
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Tel. No.: |
91-22-67348000 |
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Fax No.: |
91-22-66935050 |
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E-Mail : |
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Website : |
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Factories : |
Located at: Beverages [Own] · Ghaziabad · Varanasi · Bhopal · Patalganga · Hyderabad · Khordha · Chennai Beverages
[Franchise] · Ambala · Alwar · Nepal · Ranchi · Kolkata · Guwahati Bailley [Franchise] · Ambala · Haryana · Noida · Lucknow · Jaipur · Kathmandu · Gandhinagar · Ahmedabad · Mumbai · Patalganga · Solapur · Goa · Yavatmal · Hyderabad · Bengaluru · Chitoor · Chennai · Aluva · Tamil Nadu · Bhubaneswar · Kolkata · Ranchi · Guwahati Snacks · Rudrapur · Delhi · Vatwa, Ahmedabad ·
Hydrabad |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Prakash Jayantilal Chauhan |
|
Designation : |
Whole Time Director |
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Address : |
Shanti Kunj, 47 Tejpal Road, Vile Parle (East), Mumbai - 400057, Maharashtra, India |
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Date of Birth/Age : |
16.12.1946 |
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Qualification : |
Electron Technology Programme – RCA Institute (USA) BSC. in Business Administration – Boston University USA |
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Date of Appointment : |
26.12.1985 |
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PAN No. : |
AAIPC2975J |
|
00078739 |
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Name : |
Mrs. Schauna Chauhan Bikramjeet Saluja |
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Designation : |
Whole Time Director |
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Address : |
2901, A Wing, 29th Floor, Oberoi Sky Heights, Lokhandwala, Andheri (West), Mumbai - 400052, Maharashtra, India |
|
Date of Birth/Age : |
02.08.1976 |
|
Qualification : |
BBA International Management in Business School of Lausanne, Switzerland |
|
Date of Appointment : |
30.09.1999 |
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PAN No. : |
ADBPC2995C |
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DIN No.: |
00078965 |
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Name : |
Mrs. Alisha Chauhan Riyhad Kundanmal |
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Designation : |
Director |
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Address : |
1401/ 1402, Hicons Classic, CTS F/ 125, New Galita, TPS IV, 21st Road, Khar (West), Mumbai – 400052, Maharashtra, India |
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Date of Birth/Age : |
14.09.1978 |
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Qualification : |
Bachelor of Commerce, Bachelor of Economics, BBA |
|
Date of Appointment : |
15.09.2010 |
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PAN No. : |
AERPC6469G |
|
DIN No.: |
00079033 |
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|
|
|
Name : |
Mrs. Nadia Chauhan Kurup |
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Designation : |
Managing Director |
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Address : |
Anand, 13th Floor, Plot, No.424, Chitrkar Dhurandhar Marg, Khar (West), Mumbai - 400052, Maharashtra, India. |
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Date of Birth/Age : |
08.01.1986 |
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Qualification : |
Bachelor of Commerce |
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Date of Appointment : |
24.02.2009 |
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PAN No. : |
AEVPC0282P |
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DIN No.: |
00850166 |
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|
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Name : |
Mr. Chandraprakash Dilbahadur Sood |
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Designation : |
Director |
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Address : |
Plot No.110, Flat No.9, Uma Kunj, Behind Pratap Society, Four Bunglows, Andheri (West), Mumbai – 400053, Maharashtra, India |
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Date of Birth/Age : |
16.07.1957 |
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Date of Appointment : |
28.09.2007 |
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PAN No. : |
AAOPS7138R |
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DIN No.: |
01214816 |
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|
|
|
Name : |
Mr. Ashok Purshottam Bhave |
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Designation : |
Director and Head Technical |
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Address : |
27-C, Prem Varsha Parsiwada, Sahar Road, Andheri (East), Mumbai - 400099, Maharashtra, India |
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Date of Birth/Age : |
05.10.1948 |
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Qualification : |
M.E., Ministry of Transport |
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Date of Appointment : |
30.09.2009 |
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PAN No. : |
ABPPB0380A |
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DIN No.: |
02480658 |
KEY EXECUTIVES
|
Name : |
Mr. Rajendra Kumar Kothari |
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Designation : |
Secretary |
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Address : |
313/314, Raheja Crest 2, Off Link Road,, Andheri West, Mumbai - 400053, Maharashtra, India |
|
Date of Appointment : |
01.06.2015 |
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PAN No.: |
ATEPK9708L |
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Name : |
Mr. Schauna Chauhan Bikramjeet |
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Designation : |
Chief Executive Officer |
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Address : |
2901 Wing A, 29th Floor, Oberoi, Sky Heights, Lokhandwala, Andheri (West), Mumbai - 400053, Maharashtra, India |
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Date of Birth/Age : |
02.08.1976 |
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Qualification : |
Bachelors Degree in International Management (BBA) specializing in International Business Management from the Business School Lausanne Switzerland |
|
Date of Appointment : |
01.04.2014 |
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PAN No.: |
ADBPC2995C |
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|
|
|
Name : |
Mr. Suni Nair |
|
Designation : |
Deputy General Manager – Finance
|
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Prakash Jayahntilal Chauhan |
|
818000 |
|
Schauhna Chauhan Bikramjeet Saluja |
|
1000 |
|
Alisha Chauhan Riyhad Kundanmal |
|
1000 |
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|
|
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Total |
|
820000 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Fruit Beverages, Packaged Drinking Water, PET Preforms, Caps, Handles, Confectionery and Snacks Food Items. |
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Products : |
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Brand Names : |
“PARLE” |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
· South Africa · European Countries |
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Imports : |
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Products : |
Raw Material |
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Countries : |
· US · China |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users
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No. of Employees : |
2500 (Approximately) |
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Bankers : |
· The Ratnakar Bank Limited Shahupuri, Kolhapur, Kolhapur - 416001, Maharashtra, India ·
Kotak Mahindra Bank Limited Vile Parle (West), Mumbai –
400013, Maharashtra, India |
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Facilities : |
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Auditors : |
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Name : |
Deloitte Haskins and Sells, Chartered Accountants |
|
Address : |
Tower 3, 27th – 32nd Floor, Indiabulls
Finance Centre, Elphinstone Mills Compound, Senapati Bapat Marg, Elphinstone
(West), Mumbai – 400013 Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AACFD4815A |
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Memberships : |
-- |
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Collaborators : |
-- |
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Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives |
·
Creativeland Asia Private Limited
[U92100MH2007PTC171741] ·
Creativeland Pictures Private Limited
[U74940MH2010PTC199477] ·
Creativeland Advertising Private Limited
[U74990MH2009PTC194432] ·
Puppeteer Films |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.100/- each |
Rs.150.000 Million |
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
820000 |
Equity Shares |
Rs.100/-
each |
Rs.82.000
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
82.000 |
82.000 |
82.000 |
|
(b) Reserves & Surplus |
2866.841 |
2870.914 |
3080.347 |
|
(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) |
2948.841 |
2952.914 |
3162.347 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
414.600 |
948.433 |
31.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
160.271 |
133.449 |
56.498 |
|
Total Non-current
Liabilities (3) |
574.871 |
1081.882 |
87.498 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
608.736 |
1507.361 |
263.798 |
|
(b) Trade
payables |
854.528 |
1173.313 |
814.805 |
|
(c) Other
current liabilities |
410.226 |
463.426 |
374.691 |
|
(d) Short-term
provisions |
48.639 |
14.064 |
48.062 |
|
Total Current
Liabilities (4) |
1922.129 |
3158.164 |
1501.356 |
|
|
|
|
|
|
TOTAL |
5445.841 |
7192.960 |
4751.201 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
2587.282 |
1893.687 |
1682.581 |
|
(ii)
Intangible Assets |
21.662 |
17.012 |
12.983 |
|
(iii)
Capital work-in-progress |
32.060 |
735.354 |
110.186 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
15.418 |
16.222 |
731.065 |
|
(c) Deferred tax assets (net) |
71.212 |
86.770 |
91.887 |
|
(d) Long-term Loan and Advances |
369.528 |
497.895 |
312.959 |
|
(e) Other
Non-current assets |
12.888 |
11.442 |
11.224 |
|
Total Non-Current
Assets |
3110.050 |
3258.382 |
2952.885 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
1512.661 |
0.000 |
|
(b)
Inventories |
1916.879 |
1862.924 |
1350.508 |
|
(c) Trade
receivables |
212.155 |
259.101 |
205.487 |
|
(d) Cash
and cash equivalents |
24.700 |
70.864 |
50.359 |
|
(e)
Short-term loans and advances |
175.757 |
225.027 |
188.009 |
|
(f) Other
current assets |
6.300 |
4.001 |
3.953 |
|
Total
Current Assets |
2335.791 |
3934.578 |
1798.316 |
|
|
|
|
|
|
TOTAL |
5445.841 |
7192.960 |
4751.201 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
9408.227 |
7904.530 |
|
|
|
Other Income |
|
46.359 |
147.974 |
|
|
|
TOTAL (A) |
10006.287 |
9454.586 |
8052.504 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
9226.732 |
9180.113 |
7309.791 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
779.555 |
274.473 |
742.713 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
157.762 |
105.573 |
93.797 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
621.793 |
168.900 |
648.916 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
595.816 |
372.223 |
367.134 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
25.977 |
(203.323) |
281.782 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
32.550 |
6.110 |
8.448 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(6.573) |
(209.433) |
273.334 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1250.312 |
1459.745 |
1186.411 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1243.739 |
1250.312 |
1459.745 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
280.534 |
225.924 |
282.288 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw and packing materials |
85.829 |
118.760 |
94.124 |
|
|
|
Components and Spare Parts |
15.539 |
8.557 |
14.538 |
|
|
|
Capital Goods |
38.210 |
198.577 |
31.209 |
|
|
TOTAL IMPORTS |
139.578 |
325.894 |
139.871 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(8.02) |
(225.41) |
6530.04 |
|
|
PARTICULARS |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
12000.000 |
|
|
|
|
|
Expected Sales (2015-2016): Rs. 15000.000 Million
The above information has been parted by Mr. Sunil Nair (Deputy General
Manager – Finance)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
100.000 |
105.167 |
97.100 |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash Flow from used in Operations Activities |
294.661 |
61.063 |
802.717 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
NA |
(2.23) |
3.46 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
NA |
2.92 |
9.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.49 |
(3.20) |
7.38 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
(0.07) |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.38 |
0.87 |
0.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22 |
1.25 |
1.20 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
82.000 |
82.000 |
82.000 |
|
Reserves & Surplus |
3080.347 |
2870.914 |
2866.841 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
3162.347 |
2952.914 |
2948.841 |
|
|
|
|
|
|
Long-term borrowings |
31.000 |
948.433 |
414.600 |
|
Short term borrowings |
263.798 |
1507.361 |
608.736 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
97.100 |
105.167 |
100.000 |
|
Total
borrowings |
391.898 |
2560.961 |
1123.336 |
|
Debt/Equity
ratio |
0.124 |
0.867 |
0.381 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
8052.504 |
9454.586 |
10006.287 |
|
|
|
17.412 |
5.835 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
8052.504 |
9454.586 |
10006.287 |
|
Profit |
273.334 |
(209.433) |
(6.573) |
|
|
3.39% |
(2.22%) |
(0.07%) |
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 |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
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) |
Yes |
|
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 |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
|
Case Details Bench:- Bombay |
|||||||
|
Presentation Date: 20.09.2014 |
|||||||
|
Lodging No. : |
STRL/40/2014 |
Filing Date:- |
20.09.2014 |
Reg. No.: |
STR/51/2014 |
Reg. Date : |
18.11.2014 |
|
Petitioner:- |
THE COMMISSIONER OF SALES TAX |
Respondent:- |
PARLE AGRO PRIVATE LIMITED |
||||
|
Petn. Adv:- |
GOVERNMENT PLEADER ORIGINAL SIDE |
||||||
|
District:- |
MUMBAI |
||||||
|
Bench:- |
DIVISION |
|
|
||||
|
Status:- |
Pre-Admission |
Category:- |
SALES TAX APPLICATION |
||||
|
|
|
|
|
||||
|
Act. : |
Sales tax Act 1979 |
|
|||||
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10521630 |
26/08/2014 |
275,000,000.00 |
KOTAK
MAHINDRA BANK LIMITED |
27BKC,
C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI - 400051,
MAHARASHTRA, INDIA |
C22106462 |
|
2 |
10521632 |
26/08/2014 |
200,000,000.00 |
KOTAK
MAHINDRA BANK LIMITED |
27BKC, C
27, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI - 400051,
MAHARASHTRA, INDIA |
C22107742 |
|
3 |
10428938 |
03/05/2013 |
300,000,000.00 |
HDFC
BANK LIMITED |
HDFC
BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST) , MUMBAI - 400013, MAHARASHTRA,
INDIA |
B76208479 |
|
4 |
10145416 |
16/01/2009 |
53,765,056.00 |
TETRA-PAK
INDIA PRIVATE LIMITED |
MAYFAIR
TOWERS,GROUND FLOOR,WAKDEWADI,, SHIVAJINAGAR, PUNE-411005., MAHARASHTRA,
INDIA |
A57785628 |
|
5 |
10145417 |
16/01/2009 |
49,697,438.00 |
TETRA-PAK
INDIA PRIVATE LIMITED |
MAYFAIR
TOWERS,GROUND FLOOR,WAKDEWADI,, SHIVAJINAGAR, PUNE-411005, MAHARASHTRA ,
INDIA |
A57786725 |
|
6 |
10093570 |
20/03/2013
* |
200,000,000.00 |
YES
BANK LIMITED |
9TH FLOOR,
NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI
- |
B74386830 |
|
7 |
10022858 |
13/10/2006 |
23,890,863.00 |
TETRA-PAK
INDIA PRIVATE LIMITED |
MAYFAIR
TOWERS,GROUND FLOOR,WAKDEWADI, SHIVAJINAGAR, PUNE-411005, MAHARASHTRA, INDIA |
A05582309 |
|
8 |
90187032 |
03/12/2003 |
3,168,745.00 |
PARLE
AGRO PRIVATE LIMITED |
WESTERN
EXPRESS HIGH WAY, ANDHERI, MUMBAI, MAHARASHTRA, INDIA |
- |
|
9 |
90186963 |
30/11/2002 |
1,600,000.00 |
PARLE
AGRO PRIVATE LIMITED |
WESTERN
EXPRESS HIGH WAY, ANDHERI, MUMBAI, MAHARASHTRA, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
214.600 |
132.600 |
|
SHORT-TERM
BORROWINGS |
|
|
|
Loans repayable on demand from banks |
49.669 |
100.000 |
|
Deposits |
0.000 |
0.000 |
|
Loans and advances from related parties |
7.019 |
16.224 |
|
|
|
|
|
Total |
271.288 |
248.824 |
CORPORATE
INFORMATION
The company manufactures and distributes flavours, ready to serve fruit beverages, packaged drinking water, PET preforms, caps, handles, confectionery and snacks food items.
OPERATION RESULTS AND
BUSINESS
The Company continues to see an increase in growth in the Financial Year 2014-15 across all markets driven by good performance across all business segments due to a lower impact of seasonality in the beverage business of the Company. During the financial year 2013-14, the Company has ventured into the traditional Indian Snack market with Hippo Namkeens. Hippo Namkeens is a range that consists of a mix of spicy and salty Indian treats along in the most authentic Indian taste. Hippo Namkeens are available in eight delicious variants such as Aloo Bhujia, Sev Bhujia, Moong Dal, Masala Peanuts, Khatta Meetha, Navratan Mixture, Tikha Mixture, Chana Dal.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
a) Liability in respect of letter of credit discounted with
banks |
27.993 |
11.515 |
|
b) Disputed income tax liability (including interest
thereon) |
54.324 |
53.878 |
|
c) Disputed sales tax liability |
4.439 |
2.746 |
|
d) Disputed excise duty |
0.000 |
0.000 |
|
Future cash outflows in respect of above matters are determinable only on receipt of judgments/decisions pending at various forums/authorities. |
16.393 |
16.393 |
FIXED ASSETS:
· Land
· Buildings
· Factory Building
· Plant and Equipment
· Factory Equipment’s
· Other plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipment’s
· Other Equipment’s
PRESS RELEASE
PARLE AGRO REBRANDS FROOTI, ALLOTS RS 100 CRORE FOR
MARKETING CAMPAIGN
The company has overhauled the look and feel of its flagship brand away from its sweet and child-centric image
This is the first time in Frooti’s 30-year existence that the company has radically changed its logo and design.
Mumbai: Starting 15 March, beverage maker Parle Agro
will unleash a new Rs.1000.000 Million
marketing campaign for its non-fizzy mango juice brand Frooti.
The company has
overhauled the look and feel of its flagship brand away from its sweet and
child-centric image to give it a bold and contemporary look with the help of London-based
design firm Pentagram.
This is the first
time in the brand’s 30-year existence that the company has radically changed
its logo and design. The new packaging and identity was announced on social
media last month.
The new design has
done away with the white and green logo as well as the old font, opting instead
to go for a bold rectangular logo in a shade of dark green with Frooti written
across in bold font. The design of the bottle has also changed. Price points
and pack sizes continue to remain the same.
“It’s been a very conscious and calculated decision to bring about this change,” explained Nadia Chauhan, joint managing director and chief marketing officer, Parle Agro Private Limited.
“Talk to any
consumer on the street and they will relate to Frooti as a memory of their
childhood..,” she said, adding that looking at the brand strategy over the next
5-10 years, it was important to fit Frooti into the varied consumer lifestyles
of today.
“That’s a very
challenging thing for any brand—to have appeal across such a wide target
audience,” said Chauhan.
Frooti has not only
changed its logo and design, but there will also be a full-fledged marketing
campaign with a budget of Rs.100 crore, starting with the rollout of a
new television commercial from 15 March.
The creative
campaign will be driven by New York-based ad agency Sagmeister and Walsh on a
project basis for one year. The brand’s creative mandate was previously handled
by Creativeland Asia for a period of nine years.
The company said that
the primary reason for choosing an international agency was to ensure a fresh
and objective approach to brand Frooti, given how almost every Indian has had
an association with the brand.
Chauhan said the
process of choosing a new logo and design lasted over 10 months. The client
brief to Pentagram, which has also designed packaging and identities for brands
such as luxury jeweler and specialty retailer Tiffany & Co, luxury
department store chain Saks Fifth Avenue and Citibank, among others, dictated
that the agency could change everything about the brand except its name. In
addition, the new logo and packaging should be able to contribute about 50% to
the brand’s growth.
According to Alok
Nanda, founder and chief executive officer of Alok Nanda and Co., a
Mumbai-based brand and communications consultancy, this change resonates well
for the brand.
“It’s a nice
reflection of the brand and a much needed change that helps talk to the young
and new consumer.” He added that while the approach is certainly fresh and the
logo does stand out amid the clutter, it doesn’t necessarily work across all
its packaging formats, in particular the PET bottles.
Nanda added that
while there are some brands that move the consumer along slowly on the brand
journey towards becoming more contemporary and relevant, there are others that
opt for a completely different avatar, like in the case of Frooti.
The mango-based
juice drinks segment is estimated to beRs.35000.000 Million at the end of 2014 and growing
at the rate of 8% per annum, according to research by Wazir Advisors, a
management consulting firm. The mango juice segment has had the slowest growth
rate in the non-alcoholic beverage market with categories like coffee, tea,
carbonated juices, health drinks and powdered drinks growing at a faster rate
of 12-20% per annum, said the research.
Competitors in the
mango juice category include Coca-Cola’s ‘Maaza’ and PepsiCo’s mango drink
‘Slice’.
In the year ended 31
March 2014, Parle Agro’s annual revenue stood at Rs.25000.000 Million.
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.66.38 |
|
|
1 |
Rs.100.45 |
|
Euro |
1 |
Rs.70.55 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
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 |
|
51 |
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.