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MIRA INFORM REPORT
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Report No. : |
491313 |
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Report Date : |
13.02.2018 |
IDENTIFICATION DETAILS
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Name : |
GILLETTE INDIA LIMITED |
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Registered
Office : |
P & G Plaza, Cardinal Gracias Road, Chakala, Andheri (East),
Mumbai -400099, Maharashtra |
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Tel. No.: |
91-22-28266000 |
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Country : |
India |
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Financials (as
on) : |
30.06.2017 |
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Date of
Incorporation : |
09.02.1984 |
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Com. Reg. No.: |
11-267130 |
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Capital Investment
/ Paid-up Capital : |
INR 325.900 Million |
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CIN No.: [Company Identification
No.] |
L28931MH1984PLC267130 |
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IEC No.: |
0588094781 |
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GST No.: |
Not Divulged |
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TIN No.: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACI3924J |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturing and Selling of branded packaged fast moving consumer goods in the grooming, portable power and oral care businesses. The Company’s reportable segments are as follows: · The Grooming Segment Produces and Sells Shaving System and Cartridges, Blades, Toiletries and Components. · The Oral Care Segment, Produces and Sells Tooth Brushes, Toothpaste and Oral Care Products. [Registered Activity] |
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No. of Employees
: |
632 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A++ |
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a part of ‘Procter and Gamble” and it was incorporated in the year 1984. P&G is the global leader in major consumer products areas like hair colour products, health care and razor. Gillette India Limited is one of India’s well-known FMCG companies that deal in world leading brand such as Gillette, Oral-B and Duracell. As per financials of March 2017, the company has registered a marginal growth in its revenue and has reported good profit margin of 14.15%. Rating takes into consideration the company’s established track record of business operations marked by healthy net worth base along with low solvency indicators due to zero debt balance sheet and good liquidity position. Rating also takes into account the strong financial and managerial support received from its group companies and well experienced management team. Further, Protector and Gamble is ranked 36th on Fortune Global Companies list. Share are quoted very high on Stock Exchanges. (Share are traded at a price of INR 6530.25 against its face value of INR 10.) As per unaudited financials of September 2017, the company has achieved a revenue of INR 4,080.3 million and has reported decent profit margin of 7.94%. Payments seem to be regular as per commitments. In view of aforesaid, the company can be considered good for business dealings at normal 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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 13.02.2018.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE
[Contact No: 91-22-28266000]
LOCATIONS
|
Registered Office : |
P & G Plaza, Cardinal Gracias Road, Chakala, Andheri
(East), Mumbai -400099, Maharashtra, India |
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Tel. No.: |
91-22-28266000 Extn: 7468 / 7283 |
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Fax No.: |
91-22-28267303 |
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E-Mail : |
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Website : |
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Factory 1: |
SPA – 65A, Bhiwadi Industrial Area, Bhiwadi, Alwar – 301019, Rajasthan, India |
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Factory 2: |
Plot No. 4, Industrial Area Village Katha, Bhatoli Kalan, Baddi, Dist. Solan - 173205, Himachal Pradesh, India |
DIRECTORS
AS ON: 31.03.2017
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Name : |
Mr. Bansidhar Sunderlal Mehta |
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Designation : |
Director |
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Address : |
5th Floor, Maheshwari Mansion 34-Napean, Sea Road, Mumbai – 400006, Maharashtra, India |
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Profile : |
Mr. Mehta is a graduate in commerce and a Fellow Member of The Institute of Chartered Accountants of India. He is a Chartered Accountant in practice dealing with taxation, accountancy and valuation of mergers and acquisitions. He is a Director on the Boards of several prominent companies in India. |
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Date of Appointment : |
26.10.2005 |
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DIN No.: |
00035019 |
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Name : |
Mr. Al Abdulmalek Rajwani |
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Designation : |
Managing Director |
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Address : |
P.O. Box 7167 Apartment 310, Grand Hyatt Residence, Dubai 0000000000 AE |
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Profile : |
Mr. Rajwani received his degree in Chemical Engineering from the University of Calgary (Canada) in 1981. He has more than 35 years’ experience working for Procter & Gamble in a variety of leadership roles across Product Supply, Marketing and General Management positions in the US, Canada, China, Korea and Arabian Peninsula. |
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Date of Appointment : |
29.08.2015 |
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DIN No.: |
07251300 |
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Name : |
Ms. Sonali Dhawan |
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Designation : |
Director |
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Address : |
B-9, 6th Floor, Abhijit, Kapol Corporate Housing Siciety, 11th Road, JVPD Sche Me, Juhu, Mumbai – 400049, Maharashtra, India |
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Profile : |
Ms. Dhawan is a graduate from Lady Shriram College, with a B.Com (Hons) in Business Studies. She completed her MBA in marketing from the Indian Institute of Management, Ahmedabad. She has been awarded as 'Marketer of the Year FMCG' by IAA awards in 2014 and has been rated as Number 7 in the IMPACT 50 most influential women in Marketing and Advertising for last two years. |
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Date of Appointment : |
25.02.2014 |
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DIN No.: |
06808527 |
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Name : |
Mr. Narendra Pansukhlal Sarda |
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Designation : |
Director |
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Address : |
8th Floor, 29 Irish 45 Cuffee Parade Road, Mumbai – 400005, Maharashtra, India |
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Profile : |
Mr. Sarda is a Chartered Accountant and was the President of The Institute of Chartered Accountants of India in 1993-1994. He was a member on the Board of the erstwhile International Accounting Standards Committee, London in 1993-1995. He was also a member of IFRS Advisory Council, London during 2009 to 2011. |
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Date of Appointment : |
29.08.2015 |
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DIN No.: |
03480129 |
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Name : |
Mr. Anil Kumar Ishwar Dayal Gupta |
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Designation : |
Director |
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Address : |
501 B, Siddhi Vinayak Building Opposite Turner Road, Bandra (West), Mumbai – 400050, Maharashtra, India |
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Profile : |
Mr. Gupta is an engineer from IIT New Delhi. He also holds a PG Diploma in Industrial Management from Jamnalal Bajaj Institute of Management Studies, Mumbai. He has a vast experience of over 40 years in India and abroad in the field of Manufacturing, Projects and Supply Chain Management. |
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Date of Appointment : |
28.03.2009 |
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DIN No.: |
02588131 |
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Name : |
Mr. Pramod Agarwal |
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Designation : |
Director |
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Address : |
61, Grange Road 13-04 Beverly Hill Singapore 249570 SG |
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Profile : |
Mr. Agarwal is an MBA from Indian Institute of Management, Ahmedabad. After over 28 years of experience with P&G, he retired in 2016. He has worked in seven geographies - India, Thailand, Japan, Philippines, USA, Singapore and Switzerland. Mr. Agarwal has led several major changes which have had a lasting impact on the business and organization. |
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Date of Birth/Age : |
55 years |
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Expertise in
specific field : |
M.B.A. in Finance |
|
Date of Appointment : |
08.05.2015 |
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DIN No.: |
00066989 |
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Name : |
Mr. Chittranjan Dua |
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Designation : |
Director |
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Address : |
88, Sunder Nagar, New Delhi – 110003, India |
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Profile : |
Mr. Dua is the founding partner of Dua Associates and is currently chairman of the firm and engaged in providing strategic advice and direction for its further growth and development. His experience covers a broad range of areas relating to corporate and commercial matters, corporate finance, securities, infrastructure and aspects of public policy and administration, governance and ethics. |
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Date of Appointment : |
31.07.2002 |
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DIN No.: |
00036080 |
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Name : |
Mr. Gurcharan Das |
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Designation : |
Director |
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Address : |
124 Jor Bagh New Delhi – 110003, India |
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Profile : |
Mr. Das graduated with honors from Harvard University. He was CEO, Procter & Gamble India and later Managing Director, Procter & Gamble Worldwide (Strategic Planning). After a 30-year career, he took early retirement to become an author. He is on a number of Boards and is a regular speaker to the managements of the world’s largest corporations. |
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Date of Appointment : |
29.01.2007 |
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DIN No.: |
00032103 |
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Name : |
Mr. Karthik Natarajan |
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Designation : |
Wholetime Director |
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Address : |
Flat No. 1001 / 1002, Hi Con Heights, 24th Road, Bandra West, Mumbai- 400050, Maharashtra, India |
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Profile : |
Mr. Natarajan is a Chartered Accountant and has completed his Bachelor of Commerce from RA Podar College, Mumbai. Mr. Natarajan has been with P&G for over 16 years and is currently the Director, Finance & Accounting, India, Middle East & Africa. He has, over his experience at P&G, worked across multiple locations including India, US, China, Philippines and Singapore. |
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Date of Appointment : |
23.01.2017 |
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DIN No.: |
06685891 |
KEY EXECUTIVES
|
Name : |
Mr. Flavia Peter Machado |
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Designation : |
Company Secretary |
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Address : |
B-403, Sadbhavna Corporate Housing Society, Kajuwadi, Chakala Andheri (East), Mumbai – 400099, Maharashtra, India |
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Date of Appointment : |
30.11.2016 |
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PAN No.: |
BGXPM2244J |
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Name : |
Mr. Gagan Sawhney |
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Designation : |
Chief Financial Officer (KMP) |
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Address : |
C/C – 21, Old Kavi Nagar, Ghaziabad-201002, Uttar Pradesh, India |
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Date of Appointment : |
01.01.2017 |
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PAN No.: |
AHDPS4134K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.12.2017
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
(A) Promoter
& Promoter Group |
24437803 |
75.00 |
|
(B) Public |
8147414 |
25.00 |
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|
|
|
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Total |
32585217 |
100.00 |
Statement showing shareholding pattern of the Promoter
and Promoter Group
|
Category
of shareholder |
No.
of fully paid up equity shares held |
Shareholding
as a % of total no. of shares (calculated as per SCRR, 1957)As a % of
(A+B+C2) |
|
|
A1) Indian |
0.00 |
|
|
|
Any Other
(specify) |
1,13,64,338 |
34.88 |
|
|
Gillette Diversified Operations Privta
Limited |
1,13,64,338 |
34.88 |
|
|
Sub Total A1 |
1,13,64,338 |
34.88 |
|
|
A2) Foreign |
0.00 |
|
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|
Any Other
(specify) |
1,30,73,465 |
40.12 |
|
|
PROCTER AND GAMBLE OVERSEAS INDIA B.V. |
1,30,73,465 |
40.12 |
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Sub Total A2 |
1,30,73,465 |
40.12 |
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|
A=A1+A2 |
2,44,37,803 |
75.00 |
|
Statement showing shareholding pattern of the Public
shareholder
|
Category
& Name of the Shareholders |
Total
no. shares held |
Shareholding
% calculated as per SCRR, 1957 As a % of (A+B+C2) |
|
|
|||
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|||
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|||
|
B1) Institutions |
0.00 |
|
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Mutual Funds/ |
15,64,875 |
4.80 |
|
|
ADITYA BIRLA SUN LIFE TRUSTEE PRIVATE
LIMITED A/C ADITYA BIRLA SUN LIFE RESURGENT INDIA FUND |
10,13,848 |
3.11 |
|
|
Foreign
Portfolio Investors |
16,22,129 |
4.98 |
|
|
NATIONAL WESTMINSTER BANK PLC AS TRUSTEE OF
THE JUPITER INDIA FUND |
3,81,184 |
1.17 |
|
|
MERRILL LYNCH MARKETS SINGAPORE PTE. LTD |
4,71,753 |
1.45 |
|
|
Financial
Institutions/ Banks |
3,18,116 |
0.98 |
|
|
Sub Total B1 |
35,05,120 |
10.76 |
|
|
B2) Central Government/
State Government(s)/ President of India |
0.00 |
|
|
|
B3)
Non-Institutions |
0.00 |
|
|
|
Individual share
capital upto INR 0.200 Million |
18,14,185 |
5.57 |
|
|
Individual share
capital in excess of INR 0.200 Million |
1,07,335 |
0.33 |
|
|
NBFCs registered
with RBI |
1,838 |
0.01 |
|
|
Any Other
(specify) |
27,18,936 |
8.34 |
|
|
Bodies Corporate |
19,97,734 |
6.13 |
|
|
ADVENTZ FINANCE PRIVATE LIMITED |
11,09,104 |
3.40 |
|
|
Overseas corporate bodies |
5,16,436 |
1.58 |
|
|
GLOBALWARE TRADING AND HOLDINGS LIMITED |
5,16,038 |
1.58 |
|
|
NRI – Non- Repat |
56,726 |
0.17 |
|
|
NRI – Repat |
1,17,072 |
0.36 |
|
|
Clearing Members |
29,338 |
0.09 |
|
|
Trusts |
1,630 |
0.01 |
|
|
Sub Total B3 |
46,42,294 |
14.25 |
|
|
B=B1+B2+B3 |
81,47,414 |
25.00 |
|
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Selling of branded packaged fast moving consumer goods in the grooming, portable power and oral care businesses. The Company’s reportable segments are as follows: · The Grooming Segment Produces and Sells Shaving System and Cartridges, Blades, Toiletries and Components. · The Oral Care Segment, Produces and Sells Tooth Brushes, Toothpaste and Oral Care Products. [Registered Activity] |
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Brand Names : |
· “Oral-B” · “Gillette” · “Venus Breeze” |
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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 : |
632 (Approximately) |
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Bankers : |
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Facilities : |
--- |
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Statutory Auditors
: |
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Name : |
Deloitte Haskins and Sells LLP Chartered Accountants |
|
Address : |
Indiabulls Finance Centre Tower 3, 27th -32nd Floor Senapati Bapat Marg, Elphinstone Road (West), Mumbai-400013, Maharashtra, India |
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Tel. No.: |
91-22-61854000 |
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Fax No.: |
91-22-61854501/ 4601 |
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Secretarial
Auditor: |
|
|
Name : |
Dholakia and Associates LLP Company Secretaries |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
Procter & Gamble Overseas India BV, The Netherlands (w.e.f. March 31, 2017) |
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Ultimate Holding
Company : |
The Procter & Gamble Company, USA |
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Fellow Subsidiaries : |
· The Procter & Gamble Distributing LLC · The Procter & Gamble US Business Services Company · The Gillette Company LLC (w.e.f. July 15, 2016) · Procter & Gamble Do Brasil S/A · Wella India Haircosmetics Pvt. Ltd · Procter & Gamble (China) Sales Co., Ltd. · Nexus Mercantile (India) Pvt Ltd · Mining Consultants (India) Private Limited · Gillette Products Private Limited · Gillette (Shanghai) Ltd · Procter & Gamble Hygiene & Health Care Limited · Procter & Gamble Tuketim Mallari Sanayi A.S. · Procter & Gamble Nigeria Limited · Procter & Gamble Home Products Private Limited · Pt Procter & Gamble Home Products Indonesia · Procter & Gamble Polska SP.Z O.O · Procter & Gamble Europe SA Singapore Branch · Procter & Gamble Bangladesh Private Limited · Closed Joint Stock Company Petersburg Products International Zao St.Petersburg · Procter & Gamble Indochina Company Limited · Procter & Gamble Europe SA · Procter & Gamble Middle East FZE · Procter & Gamble International Operations Sa-Rohq · Procter & Gamble Gulf FZE · Procter & Gamble International Operations SA · Procter & Gamble International Operations SA Singapore Branch · Procter & Gamble International Sarl, Luxembourg · Gillette Diversified Operations Pvt Ltd · Procter & Gamble Japan K.K. · Procter & Gamble Australia Pty Ltd · Gillette Poland International Sp. Z · Procter & Gamble South African Trading (Pty) Ltd · Procter & Gamble (Guangzhou) Ltd. · The Gillette Company, USA (merged with The Gillette Company LLC on September 1, 2016) · Procter & Gamble International Operations S.A. Dubai Branch |
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Investing company in respect of which the Company is an associate: |
Wella India Haircosmetics Private Limited # # Also being a fellow subsidiary Company |
CAPITAL STRUCTURE
AS ON: 30.06.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
33000000 |
Equity Shares |
INR 10/- each |
INR 330.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
32585217 |
Equity Shares |
INR 10/- each |
INR 325.900 Million |
|
|
|
|
|
Fully paid equity shares
|
Particulars |
Number of Shares |
Amount |
|
|
|
|
|
Balance at July 1, 2015 |
32585217 |
325.900 |
|
Movements |
--- |
--- |
|
Balance at June 30, 2016 |
32585217 |
325.900 |
|
Movements |
--- |
--- |
|
Balance at June 30,
2017 |
32585217 |
325.900 |
The Company has only one class of equity shares having par value of INR 10 per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
Details of shares held by ultimate holding
company / holding company and / or their subsidiaries / Associates
|
Particulars |
Amount |
|
|
|
|
Holding Company |
|
|
Procter & Gamble Overseas India BV, The Netherlands # |
130.700 |
|
Subsidiaries of the
ultimate holding company |
|
|
Wella India Haircosmetics Private Limited |
66.300 |
|
Gillette Diversified Operations Private Limited |
19.800 |
|
Gillette Products Private Limited |
19.900 |
|
Mining Consultants (India) Private Limited |
6.400 |
|
Nexus Mercantile Private Limited |
1.300 |
Details of
shareholders holding more than 5% equity shares in the company
|
Particulars |
Number of Shares |
% holding of equity shares |
|
Equity shares of INR10 each fully paid |
|
|
|
Procter & Gamble Overseas India BV, The Netherlands # |
1 30 73 465 |
40.12 |
|
Procter & Gamble India Holdings B.V., Netherlands # |
--- |
--- |
|
Wella India Haircosmetics Private Limited |
66 27 254 |
20.34 |
|
Gillette Diversified Operations Private Limited |
19 79 433 |
6.07 |
|
Gillette Products Private Limited |
19 87 280 |
6.10 |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
30.06.2017 |
30.06.2016 |
30.06.2015 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
325.900 |
325.900 |
325.900 |
|
(b) Reserves & Surplus |
4680.200 |
9040.300 |
7685.800 |
|
(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) |
5006.100 |
9366.200 |
8011.700 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.100 |
0.200 |
|
(d)
long-term provisions |
46.900 |
35.400 |
29.300 |
|
Total
Non-current Liabilities (3) |
46.900 |
35.500 |
29.500 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
3227.300 |
3210.800 |
2680.100 |
|
(c)
Other current liabilities |
1687.200 |
1590.000 |
1310.800 |
|
(d)
Short-term provisions |
17.100 |
42.100 |
67.200 |
|
Total
Current Liabilities (4) |
4931.600 |
4842.900 |
4058.100 |
|
|
|
|
|
|
TOTAL |
9984.600 |
14244.600 |
12099.300 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
2140.900 |
1781.000 |
1484.100 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
633.400 |
882.100 |
631.400 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
190.100 |
149.700 |
78.800 |
|
(d) Long-term Loan
and Advances |
257.500 |
281.000 |
274.100 |
|
(e)
Other Non-current assets |
1778.100 |
1418.100 |
1255.300 |
|
Total
Non-Current Assets |
5000.000 |
4511.900 |
3723.700 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2223.800 |
2445.500 |
2015.700 |
|
(c)
Trade receivables |
1302.700 |
1097.600 |
1167.600 |
|
(d)
Cash and cash equivalents |
1156.500 |
5371.700 |
1812.500 |
|
(e)
Short-term loans and advances |
41.400 |
421.900 |
2246.100 |
|
(f)
Other current assets |
260.200 |
396.000 |
1133.700 |
|
Total
Current Assets |
4984.600 |
9732.700 |
8375.600 |
|
|
|
|
|
|
TOTAL |
9984.600 |
14244.600 |
12099.300 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
30.06.2017 |
30.06.2016 |
30.06.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
17882.400 |
17756.800 |
18747.100 |
|
|
|
Other Income |
378.200 |
357.600 |
351.200 |
|
|
|
TOTAL |
18260.600 |
18114.400 |
19098.300 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of raw and packing materials consumed |
3734.500 |
4582.500 |
3619.700 |
|
|
|
Purchases of stock-in-trade (Traded Goods) |
4329.900 |
4326.000 |
4540.100 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(204.000) |
(366.600) |
296.300 |
|
|
|
Employees benefits expense |
1097.200 |
1062.500 |
1137.100 |
|
|
|
Other expenses |
4562.500 |
4891.400 |
7505.100 |
|
|
|
Excise Duty |
546.400 |
204.900 |
0.000 |
|
|
|
TOTAL |
14066.500 |
14700.700 |
17098.300 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
4194.100 |
3413.700 |
2000.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
67.400 |
55.500 |
46.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
4126.700 |
3358.200 |
1953.500 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
383.500 |
302.700 |
388.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
3743.200 |
3055.500 |
1564.700 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1212.400 |
1062.900 |
1155.000 |
|
|
|
|
|
|
|
|
|
Add |
DISCONTINUED
OPERATIONS |
0.000 |
149.200 |
585.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
2530.800 |
2141.800 |
995.500 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Exports of goods calculated on F.O.B. basis (excludes Rupee exports to Nepal and Bhutan INR 70.500 Million (Previous year: INR 63.800 Million) |
|
547.600 |
389.600 |
|
|
|
Discontinuation facilitation income |
|
18.200 |
636.900 |
|
|
|
Others (freight, insurance etc.) |
|
19.100 |
10.000 |
|
|
TOTAL EARNINGS |
NA |
584.900 |
1036.500 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw and packing materials* * Raw and packing material includes INR 250.900 Million (Previous year: INR 322.100 Million) for discontinued operations |
|
2439.600 |
1862.800 |
|
|
|
Spares Parts |
|
68.700 |
128.900 |
|
|
|
Capital Goods |
|
541.200 |
316.600 |
|
|
TOTAL IMPORTS |
NA |
3049.500 |
2308.300 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
|
|
|
|
|
|
Basic
|
77.67 |
65.73 |
30.55 |
|
|
|
Diluted
|
77.67 |
65.73 |
48.53 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
30.06.2017 |
30.06.2016 |
30.06.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
3926.500 |
4188.200 |
2519.900 |
|
|
|
|
|
|
Net cash generated by operating activities |
2479.700 |
2794.200 |
1719.300 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
30.06.2017 |
30.06.2016 |
30.06.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
26.59 |
22.56 |
22.73 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
13.73 |
16.18 |
16.06 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
146.07 |
131.55 |
119.88 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.89 |
1.40 |
0.99 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.51 |
1.28 |
0.95 |
LEVERAGE RATIOS
|
PARTICULARS |
30.06.2017 |
30.06.2016 |
30.06.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.49 |
0.34 |
0.34 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.99 |
0.52 |
0.51 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.55 |
0.28 |
0.26 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
62.23 |
61.51 |
43.01 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
30.06.2017 |
30.06.2016 |
30.06.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
14.15 |
12.06 |
5.31 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
25.35 |
15.04 |
8.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
50.55 |
22.87 |
12.43 |
SOLVENCY RATIOS
|
PARTICULARS |
30.06.2017 |
30.06.2016 |
30.06.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.01 |
2.01 |
2.06 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.56 |
1.50 |
1.57 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.50 |
0.66 |
0.66 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.01 |
2.01 |
2.06 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10.00/- |
|
|
|
|
Market Value |
INR 6530.25/- |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
30.06.2015 |
30.06.2016 |
30.06.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
325.900 |
325.900 |
325.900 |
|
Reserves & Surplus |
7685.800 |
9040.300 |
4680.200 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
8011.700 |
9366.200 |
5006.100 |
|
|
|
|
|
|
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 |
30.06.2015 |
30.06.2016 |
30.06.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
18747.100 |
17756.800 |
17882.400 |
|
|
|
-5.282 |
0.707 |
NET PROFIT MARGIN
|
Net
Profit Margin |
30.06.2015 |
30.06.2016 |
30.06.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
18747.100 |
17756.800 |
17882.400 |
|
Profit |
995.500 |
2141.800 |
2530.800 |
|
|
5.31% |
12.06% |
14.15% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES: NO
CHARGES EXISTS FOR COMPANY
CORPORATE INFORMATION
Gillette India Limited (‘the Company’) is a public company domiciled in India and is incorporated under the provisions of the Companies Act, 1956. Its ordinary shares (Equity) are listed on two recognised stock exchanges in India. The registered office of the Company is located at P&G Plaza, Cardinal Gracias Road, Chakala, Andheri (E), Mumbai - 400099.
The Company is engaged in manufacturing and selling of branded packaged fast moving consumer goods in the grooming, portable power and oral care businesses. The Company’s products are sold through retail operations including mass merchandisers, grocery stores, membership club stores, drug stores, department stores and high frequency stores. The Company has its manufacturing locations at Bhiwadi in Rajasthan and Baddi in Himachal Pradesh, apart from third party manufacturing locations spread across India.
FINANCIAL YEAR
The Company continues to follow its Financial Year as July 1st to June 30th, pursuant to the approval received from the Company Law Board in terms of Section 2 (41) of the Companies Act, 2013.
BUSINESS PERFORMANCE
The Company delivered another good year in a volatile external environment. Sales for the Financial Year 2016 17 increased by 1% to INR 17880.000 Million from INR 17760.000 Million driven by Company’s focus on brand fundamentals and strength of product portfolio.
Profit after tax increased by 27% to INR 2530.000 Million while Profit before tax increased by 23% to INR 3740.000 Million. This was behind continued focus on productivity, operational excellence and cost optimization.
GROOMING
In the Men’s Grooming business, Gillette continues to be the market leader. They have put strong Go-to-market plans & made strategic portfolio choices to strengthen the total grooming portfolio.
On Gillette Mach3, the biggest systems franchise, we grew share & had double digit growth. This was behind our new locally created consumer communication of Stronger than Steel Blades.
Gillette Guard, the entry level system, continued to grow double digit & gain share. Gillette Guard’s College Program ’Safalta Apni Muthi Mein’ was recognized globally across multiple award forums as the Best Grooming College Program in India.
In the brand’s female portfolio Venus (World’s # 1 selling Women’s razor), we launched our next innovation, Venus Breeze, a 2 in 1 product with moisturizing gel bars. Venus continued to deliver high double-digit growth behind strong awareness and in-store executions.
ORAL CARE
Financial Year 2016-17, was a challenging year for Oral-B, with multiple external factors. However, the brand continued to focus on the consumers and strong in store fundamentals.
Oral-B launched electric rechargeable toothbrushes. They also had several strong innovations on manual toothbrushes like the launch of Pro-Health Anti-Bacterial toothbrush, Ultrathin Sensitive toothbrush range and Cavity Defense Black. All these innovations were received extremely well by the consumers and trade helping us to further establish our product superiority.
Oral-B further strengthened its partnership with dentists, to promote oral health awareness via the free dental checkup program. Oral-B brushes continue to be the most recommended and used toothbrush brand among dentists in India.*
MANAGEMENT DISCUSSION
AND ANALYSIS
ECONOMY AND MARKETS
The fundamentals of the Indian economy have remained positive in a subdued global economic environment. Indian Economy continues to grow mid to high single digits.
India’s FMCG sector is among the largest sector in the economy and an important contributor to India’s GDP. Despite the economic slowdown, the FMCG industry has remained resilient and the overall outlook remains positive for India’s consumer goods industry. Some of the new emerging trends that will drive demand going forward include – growth in disposable income, e-commerce penetration, the rise of digital advertising, tax structure simplification, infrastructure development and rural consumption. To be successful, the FMCG industry will need to remain focused on fundamentals and build capabilities in line with emerging trends and provide Indian consumers with superior products at superior value.
The liquidity crunch post demonetization and trade destocking ahead of Goods and Services Tax Cut-over did impact the economy and our results in 2016-17. But, the business is starting to recover.
OUTLOOK, RISKS AND OPPORTUNITIES
The Indian economy presents significant opportunity with a growing population, category whitespace and rising incomes. They do expect growth rate in the categories they compete to be around high single digits. However, currency volatility, supply bottlenecks and intense competition present significant near term challenges. The Company endeavours to overcome these risks and to sustain and improve its market position behind superior innovation, by driving favourable price / mix, consumer relevant communication and a relentless focus on productivity.
STANDALONE
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31.12.2017
(INR IN MILLION)
|
Particulars |
Three Months ended |
Six months ended |
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
INCOME FROM OPERATIONS |
|
|
|
|
Net Sales |
4075.200 |
4080.300 |
8155.500 |
|
Other Income |
20.000 |
11.200 |
31.200 |
|
Total
Income from Operations |
4095.200 |
4091.500 |
8186.700 |
|
|
|
|
|
|
EXPENSES |
|
|
|
|
Cost of materials consumed |
472.500 |
352.600 |
825.100 |
|
Purchase of Stock in Trade |
1368.700 |
1281.000 |
2649.700 |
|
Changes in inventories of stoke in trade |
(159.800) |
26.500 |
(133.300) |
|
Excise Duty |
--- |
--- |
--- |
|
Employee benefits expense |
245.600 |
279.200 |
524.800 |
|
Finance Costs |
13.900 |
11.100 |
25.000 |
|
Depreciation expenses |
99.300 |
91.800 |
191.100 |
|
Advertising and sales promotion expenses |
568.900 |
458.500 |
1027.400 |
|
Other Expenses |
600.300 |
623.500 |
1223.800 |
|
Total
Expenses |
3209.400 |
3124.200 |
6333.600 |
|
Profit
/ (Loss) before Tax [3-4] |
885.800 |
967.300 |
1853.100 |
|
Tax
Expense |
|
|
|
|
Current
tax |
305.800 |
347.500 |
653.100 |
|
Deferred
tax |
(7.500) |
(23.600) |
(31.100) |
|
Income Tax expenses |
298.100 |
323.900 |
622.000 |
|
Profit/ loss for the period [5-6] |
587.700 |
643.400 |
1231.100 |
|
Other comprehensive income |
|
|
|
|
Other comprehensive income not be reclassified to profit or loss |
|
|
|
|
Re-measurement of the defined employee benefit plans |
(29.300) |
(29.300) |
(58.600) |
|
Income tax effect |
10.200 |
10.100 |
20.300 |
|
Total other comprehensive income |
(19.100) |
(19.200) |
(38.300) |
|
Total comprehensive income for the period
[7+8] |
568.600 |
624.200 |
1192.800 |
|
Paid-up Equity Share Capital (Face value INR 10/- each) |
325.900 |
325.900 |
325.900 |
|
Reserve as per balance sheet |
|
|
|
|
Earnings per Share [Face value of INR 10/- per equity
share) |
|
|
|
|
Basic |
18.03 |
19.75 |
37.78 |
|
Diluted |
18.03 |
19.75 |
37.78 |
SEGMENT REVISE REVENUE, RESULTS AND CAPITAL EMPLOYED
|
Particulars
|
Three Months ended |
Six months ended |
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
1. Segment
Revenue |
|
|
|
|
Grooming |
3321.500 |
3088.700 |
6410.200 |
|
Oral Care |
753.700 |
991.600 |
1745.300 |
|
Total
Income from Operations |
4075.200 |
4080.300 |
8155.500 |
|
|
|
|
|
|
2. Segment Results |
|
|
|
|
Grooming |
744.100 |
800.900 |
1545.000 |
|
Oral Care |
143.000 |
170.100 |
313.100 |
|
Total |
887.100 |
971.000 |
1858.100 |
|
Less : i) Finance
Costs |
(13.900) |
(11.100) |
(25.000) |
|
Add/ (Less) Un-allocable Income net of Un-allocable Expenditure |
12.600 |
7.400 |
20.000 |
|
Profit
Before Tax |
885.800 |
967.300 |
1853.100 |
|
|
|
|
|
|
3.
Segment assets and liabilities |
|
|
|
|
Grooming |
6485.700 |
6221.200 |
6485.700 |
|
Oral Care |
751.300 |
780.300 |
751.300 |
|
Total Segment Assets |
7237.000 |
7001.500 |
7237.000 |
|
Unallocated Corporate Assets |
3722.900 |
3674.800 |
3722.900 |
|
Total
|
10959.900 |
10676.300 |
10959.900 |
|
|
|
|
|
|
4.
Segment Liabilities |
|
|
|
|
Grooming |
2719.900 |
2770.700 |
2719.900 |
|
Oral Care |
774.500 |
862.700 |
774.500 |
|
Total Segment
Liabilities |
3494.400 |
3633.400 |
3494.400 |
|
Unallocated Corporate Liabilities |
1655.600 |
1410.700 |
1655.600 |
|
Total
|
5150.000 |
5044.100 |
5150.000 |
NOTES:
1.
STANDALONE OF ASSETS AND LIABILITIES
|
PARTICULARS
|
|
|
As
at Half Year Ended 31.12.2017 |
|
|
|
|
(Unaudited) |
|
ASSETS |
|
|
|
|
Non-Current Assets |
|
|
|
|
Property Plant and equipment |
|
|
2691.600 |
|
Capital work in progress |
|
|
363.600 |
|
Financial assets |
|
|
|
|
Loans |
|
|
229.600 |
|
Deferred tax assets |
|
|
239.400 |
|
Income tax assets |
|
|
1668.900 |
|
Other Non-Current Assets |
|
|
230.600 |
|
Total |
|
|
5423.700 |
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
(a) Inventories |
|
|
2400.000 |
|
(b) Financial assets |
|
|
|
|
Trade receivables |
|
|
1763.800 |
|
Cash and cash equivalents |
|
|
990.600 |
|
Bank balances other than |
|
|
15.500 |
|
Loans |
|
|
38.000 |
|
Other financial assets |
|
|
30.200 |
|
Other Current Assets |
|
|
300.100 |
|
Total Current Assets |
|
|
5536.200 |
|
|
|
|
|
|
Total Assets |
|
|
10959.900 |
|
|
|
|
|
|
EQUITY AND LIABILITIES |
|
|
|
|
EQUITY |
|
|
|
|
(a) Equity Share Capital |
|
|
325.900 |
|
(b) Other Equity |
|
|
5484.000 |
|
Total |
|
|
5809.900 |
|
|
|
|
|
|
LIABILITIES |
|
|
|
|
Non-Current
Liabilities |
|
|
|
|
financial Liabilities |
|
|
|
|
Other financial Liabilities |
|
|
--- |
|
Provisions |
|
|
64.000 |
|
Total non current liabilities |
|
|
64.000 |
|
|
|
|
|
|
Current Liabilities |
|
|
|
|
financial Liabilities |
|
|
|
|
Trade payables |
|
|
3405.000 |
|
Other financial liabilities |
|
|
384.200 |
|
Provisions |
|
|
--- |
|
Current tax liabilities |
|
|
589.200 |
|
Other Current liabilities |
|
|
707.600 |
|
Total Current
Liabilities |
|
|
5086.000 |
|
Total
Liabilities |
|
|
5150.000 |
|
Total Equity and
liabilities |
|
|
10959.900 |
2. The above results were approved by the Board of Directors of the Company at the Board Meeting held on 9th February, 2018. In compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a limited review of the above results has been carried out by the Statutory Auditors.
3. The above financial results have been prepared in accordance with Indian
Accounting Standards ('Ind AS') notified under section 133 of the Companies
Act,2013 read with the relevant rules issued thereunder and the other
accounting principles generally accepted in India.
4. Consequent to the introduction of Goods and Services Tax (GST) with effect
from 1st July, 2017, Central Excise, Value Added Tax (VAT) etc. have been
subsumed into GST. In
accordance with Indian Accounting Standard -18 on Revenue and Schedule III of
the Companies Act. 2013, unlike Excise Duties, levies like GST, VAT etc. are
not part of Revenue. Accordingly, the figures for the period up
to 30th June, 2017 are not strictly relatable to those thereafter.
5. Other income for the quarter and half year ended December
31, 2016 and year ended June 30, 2017 includes INR 83.400 Million of interest on income tax
refund.
6. Previous period figures have been regrouped and reclassified wherever
necessary.
CONTINGENT
LIABILITIES:
|
Particulars |
30.06.2017 (INR
In Million) |
30.06.2016 (INR
In Million) |
|
Claims against
company not acknowledged as debts: |
|
|
|
(a) Income tax matters |
4134.800 |
3764.000 |
|
(b) Sales tax matters |
|
|
|
(i) Non submission of “C” Forms/“F” Forms |
229.500 |
73.300 |
|
(ii) Other sales tax matters |
57.100 |
63.100 |
|
(c) Excise duty, service tax and customs duty matters |
|
|
|
(i) Denial of excise
duty benefits at excise exempt location of which the Company has a right to
claim Cenvat credit of INR 1603.400 Million (July 30, 2016: INR 1603.400
Million, July 1, 2015: INR 1282.200 Million) |
2478.300 |
2478.300 |
|
(ii) Denial of Cenvat credit |
2.500 |
6.500 |
|
(iii) Service tax matters |
251.600 |
251.600 |
|
(iv) Customs valuation disputes |
152.800 |
152.800 |
|
(v) Other excise, service tax and customs matters |
30.000 |
30.000 |
|
(d) Other matters |
|
|
|
(i) Other claims
– The Company is a party to various legal proceedings in the normal course of
business |
69.200 |
73.400 |
|
(ii) Demand from Delhi Development Authority |
342.400 |
342.400 |
|
|
|
|
|
Total |
3326.800 |
3335.000 |
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
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 records 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
|
INR |
|
US Dollar |
1 |
INR 64.28 |
|
UK Pound |
1 |
INR 89.02 |
|
Euro |
1 |
INR 78.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
IND |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.