MIRA INFORM REPORT

 

Report No. :

352142

Report Date :

30.11.2015

 

IDENTIFICATION DETAILS

 

Name :

COLGATE – PALMOLIVE (INDIA) LIMITED

 

 

Registered Office :

Colgate Research Centre, Main Street, Hiranandani Gardens, Powai, Mumbai - 400 076, Maharashtra, India

Tel. No.:

91-22-67095050

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

23.09.1937

 

 

Com. Reg. No.:

11-002700

 

 

Capital Investment / Paid-up Capital :

Rs. 135.993 Million

 

 

CIN No.:

[Company Identification No.]

L24200MH1937PLC002700

 

 

IEC No.:

0388091436

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMC00390F

 

 

PAN No.:

[Permanent Account No.]

AAACC4309B 

 

 

Legal Form :

A Public Limited Liability Company. The company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

Manufacturer and Exporter of Toothpaste and Tooth Powder, Tooth Brush and Mouth Wash.

 

 

No. of Employees :

1959 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Aa (78)

 

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

 

Status :

Excellent

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist

 

 

Comments :

Subject is a well-established and reputed company having excellent track.

 

For the FY 2015, the company has impressive revenue profile marked by good profitability margin, which has increased as compared to previous year.

 

The company possesses strong financial risk profile marked by sound net worth base and decent cash accruals.

 

The rating also takes into consideration, acceptable share price of Rs.964.50 recorded by the company as against a face value of Rs. 1.00 as on November 27, 2015.

 

Trade relations are trustworthy. Business is active. Payments are regular and as per commitment.

 

In view of long track record and good brand name, the company can be considered for business dealings at usual trade terms and conditions.

 

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

 

EXTERNAL AGENCY RATING

 

Not Available

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2015.

 

 

INFORMATION DENIED

 

MANAGEMENT NON-CO-OPERATIVE

 

(91-22-67095050)

 

 

LOCATIONS

 

Registered Office :

Colgate Research Centre, Main Street, Hiranandani Gardens, Powai, Mumbai - 400 076, Maharashtra, India

Tel. No.:

91-22-67095050

Mobile No.:

Not Available

Fax No.:

Not Available

E-Mail :

investors_grievance@colpal.com

brr_info@colpal.com 

Website :

www.colgatepalmolive.co.in

 

 

Plant Locations :

Located at

  • Aurangabad, Maharashtra, India

Plot No. B-14/10 MIDC, Waluj Industrial Area, Aurangabad 431 136, Maharashtra, India

  • Baddi, Himachal Pradesh, India

Plot No. 78, EPIP Phase 1, Jharmajri, Baddi, District Solan - 174 103, Himachal Pradesh, India

  • Kundaim, Goa, India

Plot Nos. 154, 158 & 160, Kundaim Industrial Estate, Kundaim - 403 115, Goa, India

  • Sanand, Gujarat, India

Plot No. SM-02, Sanand – II, GIDC Industrial Area, Near BOI Village, Sanand - 382 170, Gujarat, India

  • Sricity, Andhra Pradesh, India

6000 Central Expressway, Sricity, Satyavedu (M), Chittoor District - 517 588, Andhra Pradesh

 

 

DIRECTORS

 

AS ON 31.03.2015

 

Name :

Mr. M. V. Deoras

Designation :

Chairman (Non-executive & Non-independent Director)

 

Name :

Mr. Rajendra Ambalal Shah

Designation :

Vice-Chairman (Non-Executive & Independent Director)

Address :

Panorama, 2nd Floor, 203, Walkeshwar Road, Mumbai - 400006, Maharashtra, India

Date of Appointment :

25.07.2014

DIN No.:

00009851

 

Name :

Mr. Pradyot Kumar Ghosh

Designation :

Deputy Chairman (Non-Executive & Independent Director)

Address :

7, Siglap Road, #05-68, Mandarin GDNS, Singapore - 448909, Singapore

Date of Appointment :

25.07.2014

DIN No.:

00385098

 

Name :

Mr. J. K. Setna

Designation :

Non-Executive & Independent Director

Address :

5 B, Saker Apartments, Pochkhanawala Road, Worli, Mumbai - 400030, Maharashtra, India

Date of Appointment :

25.07.2014

DIN No.:

00007433

 

Name :

Mr. Vikram Singh Mehta

Designation :

Non-Executive & Independent Director

Address :

18, Friends Colony, West, New Delhi - 110065, Delhi, India

Date of Appointment :

25.07.2014

DIN No.:

00041197

 

Name :

Dr. Indu Ranjit Shahani (Ms.)

Designation :

Non-Executive & Independent Director

Address :

Flat 56, Hill Park, A. G. Bell Road, Malabar Hill, Mumbai - 400006, Maharashtra, India

Date of Appointment :

25.07.2014

DIN No.:

00112289

 

Name :

Mr. Shyamala Gopinath (Ms.)

Designation :

Additional (Non-Executive & Independent) Director (Effective May 19, 2015)

Address :

Dg-4, Vasant Vihar, 85, Napean Sea Road, Mumbai - 400020, Maharashtra, India

Date of Appointment :

30.07.2015

DIN No.:

02362921

 

Name :

Mr. I. Bachaalani

Designation :

Managing Director

Address :

145, East 48th Street, New York, USA, New York - 10017, United States Of America

Date of Appointment :

01.10.2014

DIN No.:

06975320

 

Name :

Mr. G. Nthunzi

Designation :

Whole-Time Director & Chief Executive Officer

Address :

Evita Building, 2202 Room No. 1, Plot Bea 4/1 To 4/5 &, 4/7, Hiranandani Garden, Off Adishankara Charya Road, Powai Mumbai - 400076, Maharashtra, India

Date of Appointment :

29.07.2013

DIN No.:

06450693

 

Name :

Mr. N. Ghate

Designation :

Whole-Time Director & Company Secretary

Address :

205, Lantana, 2nd Floor, Nahar Amrit Shakti, Andheri (East), Mumbai - 400072, Maharashtra, India

Date of Appointment :

23.07.2012

DIN No.:

00001925

 

Name :

Mr. Vinod Nambiar

Designation :

Director

Address :

Suite 3000, Pacific Place Apartments,, 88 Queensway, Hong Kong - 88, Hong Kong

Date of Appointment :

28.09.2015

DIN No.:

07290613

 

 

KEY EXECUTIVES

 

Name :

Mr. Niket Suresh Ghate

Designation :

Secretary

Address :

205, Lantana, Nahar Amrut Shakti, Andheri, Mumbai - 400072, Maharashtra, India

PAN No.:

AAEPG5277B

Date of Appointment :

08.08.2011

 

 

MANAGEMENT COMMITTEE:

 

 

Name :

Mr. I. Bachaalani

Designation :

Managing Director

 

 

Name :

Mr. G. Nthunzi

Designation :

Finance

 

 

Name :

Mr. N. Ghate

Designation :

Legal

 

 

Name :

Mr. E. Jumbert

Designation :

Marketing

 

 

Name :

Mr. M. Chandrasekar

Designation :

Customer Development

 

 

Name :

Mr. Dr. S. Potnis

Designation :

India Global Technology Centre

 

 

Name :

Mr. M. Yajid

Designation :

Supply Chain (Toothpaste)

 

 

Name :

Mr. M. K. Ajay

Designation :

Human Resources (effective June 1, 2015)

 

 

Name :

Mr. V. Ganesh

Designation :

Supply Chain & Logistics

 

 

Name :

Mr. M. Mehrotra

Designation :

Supply Chain (Toothbrush)

 

 

AUDIT COMMITTEE:

 

 

Name :

Mr. R. A. Shah

Designation :

Chairperson

 

 

Name :

Mr. N. Ghate

Designation :

Secretary

 

 

Name :

Mr. P. K. Ghosh

Designation :

Member

 

 

Name :

Mr. J. K. Setna

Designation :

Member

 

 

Name :

Mr. V. S. Mehta

Designation :

Member

 

 

Name :

Dr. I. Shahani (Ms.)

Designation :

Member

 

 

Name :

S. Gopinath (Ms.)

Designation :

Member

 

 

RISK MANAGEMENT COMMITTEE:

 

 

Name :

Mr. P. K. Ghosh

Designation :

Chairperson

 

 

Name :

Mr. V. S. Mehta

Designation :

Member

 

 

Name :

Mr. N. Ghate

Designation :

Member

 

 

Name :

Mr. G. Nthunzi

 

Designation :

Member

 

 

Name :

Mr. I. Bachaalani

Designation :

Member

 

 

Name :

Mr. M. K. Ajay

Designation :

Member

 

 

CORPORATE SOCIAL RESPONSIBILITY COMMITTEE:

 

 

Name :

Mr. Dr. I. Shahani (Ms.)

Designation :

Chairperson

 

 

Name :

Mr. I. Bachaalani

Designation :

Member

 

 

Name :

Mr. N. Ghate

Designation :

Member

 

 

Name :

Mr. H. Mehta (Ms.)

Designation :

Member

 

 

STAKEHOLDERS’ RELATIONSHIP COMMITTEE:

 

 

Name :

Mr. J. K. Setna

Designation :

Chairperson

 

 

Name :

Mr. P. K. Ghosh

Designation :

Member

 

 

Name :

Mr. I. Bachaalani

Designation :

Member

 

 

Name :

Mr. N. Ghate

Designation :

Member

 

 

NOMINATION & REMUNERATION COMMITTEE:

 

 

Name :

Mr. R. A. Shah

Designation :

Chairperson

 

 

Name :

Mr. V. S. Mehta

Designation :

Member

 

 

Name :

Mr. M. V. Deoras

Designation :

 

 

 

Name :

Mr. N. Ghate

Designation :

Secretary

 

 

BUSINESS RESPONSIBILITY REPORTING COMMITTEE:

 

 

Name :

Mr. I. Bachaalani

Designation :

Chairperson

 

 

Name :

Mr. N. Ghate

Designation :

Member

 

 

Name :

Mr. M. K. Ajay

Designation :

Member

 

 

Name :

Mr. M. Mehrotra

Designation :

Member

 

 

Name :

Mr. H. Mehta (Ms.)

Designation :

Member

 

 

SHAREHOLDING PATTERN

 

AS ON 30.09.2015

 

Category of shareholder

Total no. Of shares

Total shareholding as a % of total no. Of shares

As a % of (A+B+C)

(A) Shareholding of Promoter and Promoter Group

http://www.bseindia.com/include/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

138712672

51.00

http://www.bseindia.com/include/images/clear.gifSub Total

138712672

51.00

Total shareholding of Promoter and Promoter Group (A)

138712672

51.00

(B) Public Shareholding

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gifMutual Funds / UTI

4622853

1.70

http://www.bseindia.com/include/images/clear.gifFinancial Institutions / Banks

1013294

0.37

http://www.bseindia.com/include/images/clear.gifCentral Government / State Government(s)

298662

0.11

http://www.bseindia.com/include/images/clear.gifInsurance Companies

10202935

3.75

http://www.bseindia.com/include/images/clear.gifForeign Institutional Investors

40457421

14.87

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

7540274

2.77

http://www.bseindia.com/include/images/clear.gifForeign Portfolio Investments Corporation

7540274

2.77

http://www.bseindia.com/include/images/clear.gifSub Total

64135439

23.58

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

7492551

2.75

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital up to Rs. 1 lakh

57481948

21.13

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital in excess of Rs. 1 lakh

1850722

0.68

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

2312302

0.85

http://www.bseindia.com/include/images/clear.gifNon Resident Indians

1318942

0.48

http://www.bseindia.com/include/images/clear.gifTrusts

986920

0.36

http://www.bseindia.com/include/images/clear.gifOverseas Corporate Bodies

6440

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

69137523

25.42

Total Public shareholding (B)

133272962

49.00

Total (A)+(B)

271985634

100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued

0

0.00

http://www.bseindia.com/include/images/clear.gif(1) Promoter and Promoter Group

0

0.00

http://www.bseindia.com/include/images/clear.gif(2) Public

0

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

0

0.00

Total (A)+(B)+(C)

271985634

100.00

 

 

Shareholding of securities (including shares, warrants, convertible securities) of persons belonging to the category Promoter and Promoter Group

 

Sl.no.

Name of the shareholder

Details of shares held

Total shares (including underlying shares assuming full conversion of warrants and convertible securities) as a % of diluted share capital

No. Of Shares Held

As A % Of Grand Total (A)+(B)+(C)

1

Colgate Palmolive Company

10,89,52,694

40.06

40.06

2

Colgate Palmolive Asia Pte Ltd

2,97,58,852

10.94

10.94

3

Norwood International Incorporated

1,126

0.00

0.00

 

Total

13,87,12,672

51.00

51.00

 

(*) The term encumbrance has the same meaning as assigned to it in regulation 28(3) of the SAST Regulations, 2011.

 

 

Shareholding of securities (including shares, warrants, convertible securities) of persons belonging to the category Public and holding more than 1% of the total number of shares

 

Sl. No.

Name of the Shareholder

No. of Shares held

Shares as % of Total No. of Shares

Total shares (including underlying shares assuming full conversion of warrants and convertible securities) as a % of diluted share capital

1

Life Insurance Corporation of India

8350553

3.07

3.07

2

Arisaig Partners (Asia) Pte Ltd A/c Arisaig India Fund Ltd

9614168

3.53

3.53

3

Virtus Emerging Markets Opportunities Fund

3288854

1.21

1.21

 

Total

21253575

7.81

7.81

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Toothpaste and Tooth Powder, Tooth Brush and Mouth Wash.

 

 

Products :

Item Code No.

Product Description

Group 202 Class 2023 Sub-Class 20235
  • Toothpaste
  • Tooth Powder
  • Toothbrush*

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

Not Available

 

 

PRODUCTION STATUS – NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Company Name :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark :

Not Divulged

 

 

Customers :

Company Name :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark :

Not Divulged

 

 

No. of Employees :

1959 (Approximately)

 

 

Bankers :

Banker Name :

Not Available

Branch :

Not Available

Person Name (With Designation) :

Not Available

Contact Number :

Not Available

Name of Account Holder :

Not Available

Account Number :

Not Available

Account Since (Date/Year of Account Opening) :

Not Available

Average Balance Maintained :

Not Available

Credit Facilities Enjoyed (CC/OD/Term Loan) :

Not Available

Account Operation :

Not Available

Remark :

Not Available

 

Statutory Auditors:

 

Name :

Price Waterhouse

Chartered Accountants

 

Solicitors:

Crawford Bayley & Company

 

 

Collaborators :

Not Available

 

 

Membership :

Not Available

 

 

Ultimate Holding Company:
  • Colgate-Palmolive Company, U.S.A.

 

Group Companies where common control exists:
  • Colgate-Palmolive Mktg. SDN BHD, Malaysia
  • Colgate-Palmolive East Africa Ltd., Kenya
  • Colgate-Palmolive Morocco
  • Colgate-Palmolive Pty. Ltd., South Africa
  • Colgate-Palmolive (Thailand) Ltd.
  • Colgate-Palmolive (H.K.) Ltd., Hongkong*
  • Colgate-Palmolive Management Services (H.K.) Limited
  • Colgate-Palmolive (China) Co. Ltd., China
  • Colgate Palmolive (Vietnam) Ltd.
  • Colgate Sanxiao Company Limited
  • Colgate-Palmolive SAS, Columbes
  • Colgate Palmolive Temizlik Urunleri Sanayi ve Ticaret A.S.
  • Colgate-Palmolive Cameroun S.A., Cameroun
  • Colgate-Palmolive Romania srl.
  • Hawley & Hazel Chemical Co., (Zhongshan) Ltd.
  • Colgate-Palmolive (Eastern) Pte. Ltd., Singapore
  • Colgate-Palmolive Indústrial Ltda., Brazil
  • Colgate-Palmolive (Asia) Pte. Ltd., Singapore
  • Norwood International Incorporated, U.S.A.
  • Colgate-Palmolive Tanzania Limited
  • Colgate-Palmolive Pty. Ltd., Boksburg
  • Colgate Global Business Services Pvt. Ltd.
  • Colgate-Palmolive Zambia Inc.
  • Colgate-Palmolive Europe SARL
  • Colgate-Palmolive S.A., France*
  • Colgate-Palmolive (Kazakistan) LLP
  • Colgate-Palmolive Europe SARL, Italy
  • Mission Hills S.A. DE. C. V., Mexico*
  • Colgate Palmolive Bt. Ltd., (Blantyre), Malawi
  • Colgate Oral Pharmaceuticals Inc. Carrollton, U.S.A.
  •  Colgate Palmolive S.A. DE. C. V. Mexico*
  • Colgate-Palmolive Senegal
  • Colgate-Palmolive Italia S.r.l., Italy
  • Colgate-Palmolive Belgium S.A./N.V.*
  • Colgate Philippines Inc.
  • Colgate-Palmolive Canada Inc*
  • Colgate-Palmolive Mfg (Poland)*
  • Colgate-Palmolive S.P.A., Italy
  • Colgate-Palmolive Services (Poland) Sp.z.o.o
  • Colgate Palmolive West East Investments, U.S.A.
  • Tom’s Of Maine, U.S.A.
  • Colgate-Palmolive Ghana Ltd
  • Colgate-Palmolive Europe Sarleu Div
  • CP Middle East Exports Ltd.
  • Colgate-Palmolive (Myanmar) Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2015

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1,37,00,00,000

Equity Shares

Rs. 10/- each

Rs. 1370.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

13,59,92,817

Equity Shares

Rs. 10/- each

Rs. 135.993 Million

 

 

 

 

 

Reconciliation of the number of shares

 

Equity Shares

Number of Shares

Shares outstanding at the beginning of the year

13,59,92,817

Shares issued during the year

--

Shares outstanding at the end of the year

13,59,92,817

 

Rights, Preferences and Restrictions attached to Shares:

The Company has one class of Equity Shares having par value of Rs. 1 per share. Each Shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the Shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the Equity Shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

 

Shares held by Ultimate Holding Company and its Subsidiaries:

 

  1. 5,44,76,347 (Previous Year : 5,44,76,347) Equity Shares are held by Colgate-Palmolive Company, U.S.A., the Ultimate Holding Company.
  2. 1,48,79,426 (Previous Year : 1,48,79,426) Equity Shares are held by Colgate-Palmolive (Asia) Pte. Ltd., Singapore, Subsidiary of the Ultimate Holding Company.
  3. 563 (Previous Year: 563) Equity Shares are held by Norwood International Incorporated, U.S.A., Subsidiary of the Ultimate Holding Company.

 

 

Details of equity shares held by shareholders holding more than 5% shares:

 

Name of Shareholder

Number of Shares

% holding

Colgate-Palmolive Company, U.S.A.

5,44,76,347

40.06

Colgate-Palmolive (Asia) Pte. Ltd., Singapore

1,48,79,426

10.94

Oppenheimer Developing Markets Fund*

--

--

Total

 

51.00

 

* The holding of Oppenheimer Developing Markets Fund has decreased from 5.41% as at March 31, 2014 to 2.65% (representing 3,602,409 shares) as at March 31, 2015.

 

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

135.993

135.993

135.993

(b) Reserves & Surplus

7567.162

5862.793

4759.921

(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)

7703.155

5998.786

4895.914

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

25.893

0.000

0.000

(c) Other long term liabilities

15.435

7.465

8.442

(d) long-term provisions

608.599

510.404

349.006

Total Non-current Liabilities (3)

649.927

517.869

357.448

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

5144.056

4980.007

4666.198

(c) Other current liabilities

2858.658

2734.595

2501.798

(d) Short-term provisions

663.184

703.560

646.414

Total Current Liabilities (4)

8665.898

8418.162

7814.410

 

 

 

 

TOTAL

17018.980

14934.817

13067.772

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

7815.822

5559.080

2806.632

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

1411.824

1415.050

1019.563

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

301.348

371.348

371.348

(c) Deferred tax assets (net)

0.000

177.836

224.447

(d)  Long-term Loan and Advances

555.380

672.936

702.950

(e) Other Non-current assets

37.427

36.337

12.461

Total Non-Current Assets

10121.801

8232.587

5137.401

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

70.000

0.000

99.817

(b) Inventories

2522.253

2257.427

1852.983

(c) Trade receivables

696.436

547.342

812.114

(d) Cash and cash equivalents

2544.500

2853.752

4287.963

(e) Short-term loans and advances

1029.936

969.969

844.707

(f) Other current assets

34.054

73.740

32.787

Total Current Assets

6897.179

6702.230

7930.371

 

 

 

 

TOTAL

17018.980

14934.817

13067.772

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

Income

39819.433

35788.063

31638.056

 

Other Income

331.730

503.206

499.232

 

TOTAL SALES

40151.163

36291.269

32137.288

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

11857.120

11294.101

9915.474

 

Purchases of Stock-in-Trade

2983.586

2993.815

2364.440

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(163.527)

(267.680)

221.970

 

Employees benefits expense

2589.320

2117.775

2494.380

 

Other expenses

14330.566

13009.949

10073.696

Exceptional Items

0.000

(643.798)

0.000

 

TOTAL EXPENSES

31597.065

28504.162

25069.960

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

8554.098

7787.107

7067.328

 

 

 

 

 

Less

FINANCIAL EXPENSES

0.000

0.000

0.000

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

8554.098

7787.107

7067.328

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION

750.204

507.545

436.989

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

7803.894

7279.562

6630.339

 

 

 

 

 

Less

TAX

2214.055

1880.862

1662.795

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

5589.839

5398.700

4967.544

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

567.452

481.907

351.789

 

Services Rendered

248.416

321.246

782.906

 

TOTAL EARNINGS

815.868

803.153

1134.695

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

1282.465

1325.635

1126.475

 

Stock-in-Trade

446.931

349.130

258.484

 

Components and Stores parts

436.299

1261.274

42.825

 

Capital Goods

63.112

88.076

251.256

 

TOTAL IMPORTS

2228.807

3024.115

1679.040

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

41.1

39.7

36.53

 

 

QUARTERLY RESULTS

 

Particulars

30.06.2015

30.09.2015

UNAUDITED

Net Sales

10101.500

10384.700

Total Expenditure

8083.300

7835.600

PBIDT (Excl OI)

2018.200

2549.100

Other Income

87.700

107.600

Operating Profit

2105.900

2656.700

Interest

NA

NA

Exceptional Items

-313.400

NA

PBDT

1792.500

2656.700

Depreciation

252.700

269.200

Profit Before Tax

1539.800

2387.500

Tax

397.000

818.200

Provisions and contingencies

NA

NA

Profit After Tax

1142.800

1569.300

Extraordinary Items

NA

NA

Prior Period Expenses

NA

NA

Other Adjustments

NA

NA

Net Profit

1142.800

1569.300

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

843,65.53

635,16.34

804,45.43

Net Cash from Operating Activities

638,15.13

457,37.74

614,90.23

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

14.04

15.09

15.70

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

21.48

21.76

22.34

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

50.99

56.12

57.89

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

1.01

1.21

1.35

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.00

0.00

0.00

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.80

0.80

1.01

 

 

STOCK PRICES

 

Face Value

Rs. 1.00/-

Market Value

Rs. 964.50/-

 

 

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

135.993

135.993

135.993

Reserves & Surplus

4759.921

5862.793

7567.162

Net worth

4895.914

5998.786

7703.155

 

 

 

 

long-term borrowings

0.000

0.000

0.000

Short term borrowings

0.000

0.000

0.000

Total borrowings

0.000

0.000

0.000

Debt/Equity ratio

0.000

0.000

0.000

 

 

 

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

Sales

31638.056

35788.063

39819.433

 

 

13.117

11.265

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

31638.056

35788.063

39819.433

Profit

4967.544

5398.700

5589.839

 

15.70%

15.09%

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

Yes

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

No

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:

 

BENCH:-BOMBAY

PRESENTATION DATE:-10.06.2014

Lodging No.:-

STRL/10/2014

Filing Date:-

10/06/2014

Reg. No.:-

STR/31/2014

Reg. Date:-

06/08/2014

Petitioner:-

 

THE COMMISSIONER OF SALES TAX, MAHARASHTRA STATE

Respondent:-

COLGATE – PALMOLIVE (INDIA) LIMITED

Petn.Adv.:-

 

 

District:-

GOVERNMENT PLEADER ORIGINAL SIDE MUMBAI (I5024)

MUMBAI

Resp.Adv.:-

ECONOMIC LAWS PRACTICE (RESPONDENTS)(I2575)

 

 

 

 

Bench:-

DIVISION

DIVISION

Pre-Admission

Category:-

SALES TAX REFERENCES.

Act :-

Sales Tax Act 1979

 

 

BUSINESS PERFORMANCE:

 

Indian economy as measured through GDP grew by 5% in 2014 compared to 4.7% in 2013. Public sentiment significantly improved with resounding majority of a single political party in the National elections in May 2014. Although, there was a renewed optimism in the country, it did not translate immediately into an increase in demand. Rural consumption slowed during the year, unexpected rains in some states further dampened the sentiments in the rural markets.

 

Wholesale and Consumer price inflation moderated substantially in 2014 as compared to the previous year. Food inflation and crude oil prices also dropped significantly in 2014. While gradual increase in economic activity is expected in 2015, a clearer trend in rural consumption is expected only after monsoon and a possible pick up in Government spending. In spite of the challenges and increased competitive intensity, The Company delivered strong results.

 

The Company registered strong Sales growth of 12% to Rs. 39547.800 Million from Rs. 35448.800 Million in the previous year. Toothpaste and Toothbrush volumes grew at 5% and 7% respectively. This growth was achieved at a time when the overall Toothpaste market declined by just over 3%. Profit before Tax (including exceptional item) during the year was Rs. 7803.900 Million, an increase of 7% over the previous year. Profit after Tax (including exceptional item) during the year was Rs. 5589.800 Million, an increase of 4% over the previous year.

 

The Company has made very good market share progress with Toothpaste at 57.8% and Toothbrushes at 42.1%. This is a result of ongoing innovation supported by impeccable execution in all retail environments. The efforts in the area of efficiency continue to payoff with ‘Funding the Growth’ initiatives continuing to deliver savings, allowing us to improve investment levels while also delivering improved profitability.

 

 

FOCUS ON INNOVATION AND NEW LAUNCHES:

 

The Company has been continually pioneering innovation and development in the Oral Care category with best-in-class technologies. The Company has been staying ahead of trends by identifying opportunities based on insights into consumer behavior and by leveraging the technology from the Parent Company. The Company has made successful innovative launches during the year, as listed below: In the Toothpaste category, the Company introduced innovative products like:

  • Colgate Sensitive Pro-Relief™ (CSPR) Enamel Repair Toothpaste – a scientifically advanced technology that protects enamel from erosion by repair and remineralisation. It also provides long-lasting relief from tooth sensitivity.
  • Colgate Visible White Plus Shine Toothpaste - This toothpaste is formulated with whitening accelerators that remove and prevent surface stains and helps in tooth whitening. In addition to this, the micro crystals in the formulation safely polish teeth surfaces for a shinier smile.

 

In the Toothbrush category, the Company introduced innovative products like:

  • Colgate SlimSoft Charcoal Toothbrush – India’s first toothbrush with slim tapered tip bristles technology infused with Charcoal. This revolutionary toothbrush technology is based on the key Indian insight of the traditional Oral Care benefits of Charcoal. The new Colgate SlimSoft Charcoal is one such clutter breaking offering, which brings together the traditional Oral Care benefits of Charcoal with advanced bristle technology. It was also voted as the Product of the Year for 2015.
  • Colgate ZigZag Black Toothbrush – Colgate ZigZag Black is a line extension of one of India’s most popular toothbrush brands ‘Colgate ZigZag’. As the market leader, The Company has introduced many ‘firsts’ in the toothbrush category and Colgate ZigZag is the first black toothbrush in the Mass Segment. In the Mouthwash Category, The Company has launched Colgate Plax Active Salt Mouthwash. Building on the insight of salt water gargling, this innovative product provides dual benefit of Healthy Gums and Long-lasting freshness to our consumers. The Company will continue to remain focused on driving consumer relevant innovation in the future.

 

 

NEW PROJECTS:

 

As stated in the Annual Report for the financial year 2013-14, The Company had set up a state-of-theart Toothpaste manufacturing facility at Sanand in Gujarat which was commissioned in March 2014. The said facility is now fully operational and caters to the domestic and export markets. The Company has also set up a new state-of-theart Toothbrush manufacturing facility at Sricity in Chittoor District in Andhra Pradesh. This facility was commissioned and fully tested in the month of March 2015 and has commenced its commercial production in the month of April 2015 and will have an installed capacity to produce 220 Million pieces of Toothbrushes by the end of the year.

 

With a commitment to grow the business, substantial investments have been made in the above two new manufacturing facilities, which will immensely benefit The Company in the years to come.

 

Expiry of Fiscal Incentives at Baddi facility:

 

The Company’s manufacturing facility at Baddi, Himachal Pradesh was established in April 2005 and was entitled to certain fiscal benefits (Income Tax and Excise) for a period of 10 years pursuant to the then Industrial Policy of the Government of Himachal Pradesh. Accordingly, the income tax and excise benefits for the said facility expired on March 31, 2015 and on April 21, 2015 respectively. The Company, therefore, pays applicable excise duty on production and income tax on profits from the said facility. The Company continues to manufacture its Oral Care products from the Baddi facility.

 

Toothpowder Manufacturing Facility at Aurangabad:

 

As consumers shift from traditional toothpowder to toothpaste, Oral Care market in India has changed significantly over the past few years. This has resulted in a declining trend in toothpowder volume as the growth is captured by toothpaste. With a view to enhance the Company’s competitiveness and operate in a cost effective manner, The Company offered a voluntary retirement scheme at its toothpowder manufacturing facility at Aurangabad while ensuring that the core values of caring for people are consistently followed. The said scheme was accepted by all the workmen and therefore the toothpowder manufacturing operations at the Aurangabad facility were discontinued effective May 5, 2015.

 

 

CONTINGENT LIABILITIES:

 

(Rs. in millions)

PARTICULARS

31.03.2015

Contingent Liabilities

 

Claims against the Company not acknowledged as debts :

 

– Excise and Related Matters

386.323

– Service Tax Matters

58.162

– Income Tax Matters

26.707

– Provident Fund Matters

0.737

– Commercial Matters

13.555

Future cash flow in respect of the above, if any, is determinable only on receipt of judgments/decisions pending with the relevant authorities.

 

 

 

Commitments

 

Estimated amount of contracts remaining to be executed on capital account and not provided for [net of advances of Rs. 208.953 Million (Previous Year : Rs. 392.080 Million)]

291.905

Total

808.6205

STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER / HALF YEAR ENDED 30TH SEPTEMBER 2015

 (Rs. In Million)

Particulars

3 Months Ended

3 Months Ended

Half Year Ended

 

30.09.2015

30.06.2015

30.09.2015

 

UNAUDITED

1. Income from operations

 

 

 

a) Net sales/ Income from operation (net of excise duty)

10317.800

10029.100

20346.900

b) Other operating income

66.900

72.400

139.300

Total income from Operations(net)

10384.700

10101.500

20486.200

2.Expenditure

 

 

 

a) Cost of material consumed

2849.100

2935.900

5785.000

b) Purchases of stock in trade

929.900

670.500

1600.400

c) Changes in inventories of finished goods, work-in-progress and stock-in-trade

(49.500)

77.300

27.800

d) Employees benefit expenses

574.400

653.200

1227.600

e) Depreciation and amortization expenses

269.200

252.700

521.900

f) Advertising and Sales Promotion

1666.800

2005.000

3671.800

g) Other expenditure

1864.900

1741.400

366.300

Total expenses

8104.800

8336.000

16440.800

3. Profit from operations before other income and financial costs

2279.900

1765.500

4045.400

4. Other income

107.600

87.700

195.300

5. Profit from ordinary activities before finance costs

2387.500

1853.200

4240.700

6. Finance costs

--

--

--

7. Net profit/(loss) from ordinary activities after finance costs but before exceptional items

2387.500

1853.200

4240.700

8. Exchange Currency Fluctuation Loss/ (Gain)

--

(313.400)

(313.400)

9. Profit from ordinary activities before tax Expense:

2387.500

1539.800

3927.300

10.Tax expenses

818.200

397.000

1215.200

11.Net Profit / (Loss) from ordinary activities after tax (9-10)

1569.300

1142.800

2712.100

14.Paid-up equity share capital (Nominal value Rs.10/- per share)

272.000

136.000

272.000

15. Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year

--

--

--

16.i) Earnings per share (before extraordinary items) of Rs.10/- each) (not annualised):

 

 

 

(a) Basic and diluted

5.77

4.20

9.97

 

 

 

 

A. Particulars of shareholding

 

 

 

1. Public Shareholding

 

 

 

- Number of shares

133,272,962

66,636,481

133,272,962

- Percentage of shareholding

49%

49%

49%

2. Promoters and Promoters group Shareholding-

Nil

Nil

Nil

a) Pledged /Encumbered

 

 

 

Number of shares

Nil

Nil

Nil

Percentage of shares (as a % of total shareholding of the promoter and promoter group)

Nil

Nil

Nil

Percentage of shares (as a % of total share capital of the company)

Nil

Nil

Nil

 

 

 

 

b) Non  Encumbered

 

 

 

Number of shares

138,712,672

69,356,336

138,712,672

Percentage of shares (as a % of total shareholding of the promoter and promoter group)

100%

100%

100%

Percentage of shares (as a % of total share capital of the company)

51%

51%

51%

 

B. Investor Complaints

 

 

Pending at the beginning of the quarter

NIL

 

Receiving during the quarter

64

 

Disposed of during the quarter

64

 

Remaining unreserved at the end of the quarter

NIL

 

 

 

STANDALONE STATEMENT OF ASSTES AND LIABILITIES AS ON 30.09.2015

 

Rs. In Million

SOURCES OF FUNDS

 

 

 

30.09.2015

(Unaudited)

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

 

272.000

(b) Reserves & Surplus

 

 

10143.300

(c) Pending Call Money

 

 

0.000

Sub-total Shareholders’

 

 

10415.300

 

 

 

 

(2) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

 

0.000

(b) Deferred tax liabilities (Net)

 

 

0.000

(c) Other long term liabilities

 

 

15.300

(d) long-term provisions

 

 

677.400

Sub-total of Non-Current liabilities

 

 

692.700

 

 

 

 

(3) Current liabilities

 

 

 

(a) Short term borrowings

 

 

 

(b) Trade payables

 

 

5683.600

(c) Other current liabilities

 

 

1619.900

(d) Short-term provisions

 

 

1014.500

Sub-total of Current liabilities

 

 

8318.000

 

 

 

 

TOTAL

 

 

19426.000

 

 

 

 

II.             ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

9665.000

(b) Non-Current investments

 

 

301.300

(c) Deferred tax assets (net)

 

 

58.800

(d) Long term loans and advances

 

 

729.600

(e) Other non-current assets

 

 

41.500

Sub-total of Non-Current Assets

 

 

10796.200

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

 

70.000

(b) Inventories

 

 

2763.200

(c) Trade receivables

 

 

646.400

(d) Cash and cash equivalents

 

 

3133.600

(e) Short-term loans and advances

 

 

1955.400

(f) Other current assets

 

 

61.200

Sub-total of Current Assets

 

 

8629.800

 

 

 

 

TOTAL

 

 

19426.000

 

Notes:

  1. Net Sales for the quarter and six months ended September 30, 2015 increased by 4% and 5%, respectively, over the same period of the previous year.
  2. Net profit before tax and Exceptional Items for the quarter ended September 30, 2015 is Rs. 2387.500 Million as against Rs. 1787.000 Million for the quarter ended September 30, 2014. Net profit before tax and Exceptional Items for the six months ended September 30, 2015 is Rs. 4240.700 Million as against Rs. 3622.600 Million for the six months ended September 30, 2014.
  3. On April 29, 2015, the Company had announced a Voluntary Retirement Scheme (VRS) for the employees at the toothpowder manufacturing facility at Waluj, Aurangabad and Maharashtra. The scheme was accepted on May 04, 2015 by all affected employees. Post acceptance of the offer by all the workmen under the said Scheme, the toothpowder manufacturing operations at the Aurangabad factory have been discontinued effective May 05, 2015. Exceptional items for the six months ended September 30, 2015 comprise of VRS expenses of Rs. 292.600 Million and other expenses of Rs. 20.800 Million pertaining to the discontinuance of the operations at the Aurangabad factory.
  4. Tax expense for the quarter ended June 30, 2015 and six months ended September 30, 2015 includes prior year reversal of Rs. 125.300 Million (corresponding period of the previous year Rs. Nil).
  5. The Shareholders of the Company through postal ballot approved the issue of bonus equity shares in the ratio of 1:1 by capitalization of general reserves. Accordingly, on September 28, 2015, the Company allotted 135,992,817 bonus equity shares of Re 1/- each fully paid-up to the existing shareholders as on the record date. The paid-up share capital of the Company stands increased from Rs. 136.000 Million to Rs. 272.000 Million. Accordingly, the earnings per share have been adjusted for the bonus issue for all the previous periods presented in accordance with the provisions of Accounting Standard (AS) 20 - 'Earnings per Share'.
  6. The Company has identified ‘Personal Care (including Oral Care)' as its only primary reportable segment in accordance with the requirements of Accounting Standard (AS) – 17, Segment Reporting. Accordingly, no separate segment information has been provided.
  7. There are no extraordinary items
  8. Previous period figures have been reclassified, as considered necessary, to conform with current period presentation, where applicable.

 

The Statutory Auditors have carried out a Limited Review of the Financial results of the quarter ended September 30, 2015 as per Clause 41 of the Listing Agreement

 

The above results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on October 29, 2015. The full text of Colgate releases is available: www.colgatepalmolive.co.in

 

 

INDEX OF CHARGE:

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

90119029

29/12/2000

60,000,000.00

THE HONGKONG & SHANGHAI BANKING CORPORATION LTD.

30, RAJAJI SALAI, CHENNAI, TAMIL NADU - 600001, INDIA

-

2

90065019

30/03/2000 *

30,000,000.00

ANZ GRINDLYS BANK LTD.

90 ; M.G. ROAD BRANCH, FORT, MUMBAI, MAHARASHTRA 
- 400001, INDIA

-

3

90118834

29/08/1998

35,000,000.00

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMI 
TED

52/60; HAHATMA GANDHI ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

-

4

90065440

31/12/1992

9,000,000.00

ANZ GRINDYAS BANK

P.L.C.; 90; M.G. ROAD, BOMBAY, MAHARASHTRA - 40000 
1, INDIA

-

5

90114951

08/05/1992

7,000,000.00

ANZ GRINDLAYS BANK

M G ROAD, ABIDS, HYDERABAD, ANDHRA PRADESH, INDIA

-

6

90114915

30/07/1998 *

22,500,000.00

ANZ GRINDLYS BANK LTD

6-3-1090; RAJBAHAWAN ROAD, SOMAJI GUDA, HYDERABAD 
, ANDHRA PRADESH - 500082, INDIA

-

7

90114788

20/07/1990

7,500,000.00

BANK OF AMERICA

P.O. NO-10080, MUMBAI, MAHARASHTRA - 400001, INDIA

-

8

90114725

08/03/1990

8,650,000.00

BANK OF AMERICA

P.O. NO-10080, MUMBAI, MAHARASHTRA - 400001, INDIA

-

 

*Date of modification Charges

 

 

FIXED ASSETS:

 

·         Land

·         Building

·         Plant and Machinery

·         Computer

·         Vehicles

·         Furniture and Fixture

 

 

 

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 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. 66.75

UK Pound

1

Rs. 100.68

Euro

1

Rs. 70.88

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Analysis Done by :

AMT

 

 

Report Prepared by :

SYL

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

9

PAID-UP CAPITAL

1~10

8

OPERATING SCALE

1~10

9

FINANCIAL CONDITION

 

0

--BUSINESS SCALE

1~10

9

--PROFITABILITY

1~10

8

--LIQUIDITY

1~10

8

--LEVERAGE

1~10

9

--RESERVES

1~10

9

--CREDIT LINES

1~10

9

--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

 

78

 

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

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.