|
|
|
MIRA INFORM REPORT
|
Report No. : |
491579 |
|
Report Date : |
14.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
CARLSBERG INDIA PRIVATE LIMITED (w.e.f. 23.02.2009) |
|
|
|
|
Formerly Known
As : |
SOUTH ASIA BREWERIES PRIVATE LIMITED |
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Registered
Office : |
4th Floor, Rectangle No.1, Commercial Complex, D4, Saket,
New Delhi – 110 017 |
|
Tel. No.: |
91-124-4554444 |
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|
|
|
Country : |
India |
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|
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|
Financials (as
on) : |
31.03.2016 |
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|
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|
Date of
Incorporation : |
03.05.2006 |
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|
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|
Com. Reg. No.: |
55-148579 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 821.239 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15111DL2006PTC148579 |
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IEC No.: |
Not Divulged |
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TIN No.: |
Not Divulged |
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GST No.: |
Not Divulged |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
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|
|
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PAN No.: [Permanent Account No.] |
AAJCS8454J |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of Manufacturing and Sale of Alcoholic Beer. [Registered Activity] |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
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|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of South Asia Breweries Private Limited
Singapore. It is an established company incorporated in the year 2006 having
satisfactory track record. As per Registrar of Companies the date of balance sheet (i.e.
financial filed is shown as 31.03.2017 but the documents related to the
financial for the year 2017 are not available from any sources. As per available financials of 2016, the company is continuously
incurring losses from its operational activities. However, rating takes into consideration healthy net worth base along
with low debt level of the company. Rating also derives strength from its strong band image and
established market position in alcoholic segment. Trade relations are reported as fair. Business is active. Payments
terms are reported to be slow but correct. In view of strong holding company support backed by established brand
name, the company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
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 14.02.2017.
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 [TEL. NO.:91-124-4554444]
LOCATIONS
|
Registered Office : |
4th Floor, Rectangle No.1, Commercial Complex, D4, Saket,
New Delhi – 110 017, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
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|
Corporate Office : |
3rd Floor, Paras Twin Towers, Tower A, Sector-54, Gurgaon –
122 002, Haryana, India |
|
Tel. No.: |
91-124-4554444 |
|
Fax No.: |
91-124-4554499 |
|
|
|
|
Plant 1 : |
Tokian,
Paonta Sahib, District Sirmaur – 173 021, Himachal Pradesh, India |
|
Tel. No.: |
91-1704-645401/ 416 |
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Fax No.: |
91-1704-255161 |
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|
Plant 2 : |
Plot No. SP 1-4 and B5-8, MIA Extension, Agro Food Park, Alwar – 301
030, Rajasthan, India |
|
Tel. No.: |
91-144-2881176 |
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Fax No.: |
91-144-2881177 |
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|
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Plant 3 : |
H-17/1/1, MIDC Waluj, Aurangabad – 431 136, Maharashtra, India |
|
Tel. No.: |
91-240-2555101-2 |
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Fax No.: |
91-240-255103 |
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|
|
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Plant 4 : |
Survey No.281/293, Mallepally, Kondapur (M), District Medak – 502 295,
Andhra Pradesh, India |
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Tel. No.: |
91-8455-230113-115 |
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Fax No.: |
91-8455-230116 |
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|
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Plant 5 : |
Plot No. 2, Industrial Estate, Dharuhera, District Rewari – 123106,
Haryana, India |
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Tel. No.: |
91-1274-243288 |
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Plant 6 : |
Sy. No. 374, Immavu Industrial Area, Immavu Village, Nanjangud Tq, Mysuru - 571302, Karnataka, India |
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|
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Plant 7 : |
Village Belmuri, Mouja, Begnan, Post Office:
Chaitanyabati, |
|
Tel. No.: |
91-3213-251443/251771 |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Surender Kumar Atri |
||||||||
|
Designation : |
Director |
||||||||
|
Address : |
6/17, Shanti Niketan, New Delhi – 110021, India |
||||||||
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Date of Birth/Age : |
03.09.1949 |
||||||||
|
Date of Appointment : |
15.03.2007 |
||||||||
|
DIN No.: |
01459310 |
||||||||
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|
||||||||
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Name : |
Mr. Nilesh Patel |
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|
Designation : |
Director |
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|
Address : |
15, Ardmore Pk #06-01, Ardmore Pk, Singapore - 259959 |
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|
Date of Appointment : |
05.05.2017 |
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|
DIN No.: |
01805278 |
||||||||
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|
||||||||
|
Name : |
Mr. Graham James Fewkes |
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|
Designation : |
Director |
||||||||
|
Address : |
35/2, East Claremont Street, Edinburgh EH74HT GB |
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|
Date of Appointment : |
23.08.2016 |
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DIN No.: |
02401730 |
||||||||
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|
||||||||
|
Name : |
Mr. Krishnan Ramesh |
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|
Designation : |
Whole-Time Director |
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|
Address : |
Flat No. 801, Tower-E Uniworld City, Sector-30, Gurgaon – 122001, Haryana, India |
||||||||
|
Date of Birth/Age : |
22.08.1968 |
||||||||
|
Qualification: |
Bachelor of Engineering (BE) |
||||||||
|
Date of Appointment : |
17.06.2014 |
||||||||
|
PAN No.: |
AAHPR1879B |
||||||||
|
DIN No.: |
05340141 |
||||||||
|
Other Directorship :
|
|||||||||
|
|
|
||||||||
|
Name : |
Mr. Roland Arthur Lawrence |
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|
Designation : |
Director |
||||||||
|
Address : |
Hyatt Regency Hong Kong Sha Tin of 18 Chak Cheung Street, Sha Ti N New Territories Hongkong NA HK |
||||||||
|
Date of Appointment : |
21.08.2012 |
||||||||
|
DIN No.: |
06367644 |
||||||||
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|
|
||||||||
|
Name : |
Mr. Pawan Kumar Jagetia |
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|
Designation : |
Managing Director |
||||||||
|
Address : |
Flat No. 1202 Tower A-3 World Spa, Sector 30, Near Sector-31 MarKet, Gurgaon - 122002, Haryana, India |
||||||||
|
Date of Birth/Age : |
29.03.1972 |
||||||||
|
Qualification: |
B.Com, MBA |
||||||||
|
Date of Appointment : |
26.09.2014 |
||||||||
|
PAN No.: |
ACKPJ3966E |
||||||||
|
DIN No.: |
06981563 |
||||||||
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|
||||||||
|
Name : |
Mr. Peter Steenberg |
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|
Designation : |
Director |
||||||||
|
Address : |
Ground Floor, Headland Village 56, Seabee Lane, Discovery Bay Lantau NA HK |
||||||||
|
Date of Birth/Age : |
26.03.1974 |
||||||||
|
Qualification: |
Bussiness Administration,1st Class Honours, National University of Singapore. |
||||||||
|
Date of Appointment : |
10.03.2016 |
||||||||
|
DIN No.: |
07440024 |
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KEY EXECUTIVES
|
Name : |
Mr. Ranjan Kumar |
|
Designation : |
Company Secretary |
|
Address : |
Flat No. 1101, Tower-1, Unitech Escape, Nirwana, Golf Course Extension Road, Sec Tor-50, Gurgaon – 122018, Haryana, India |
|
Date of Appointment : |
17.04.2017 |
|
PAN No.: |
AMEPK5869R |
|
|
|
|
Name : |
Mr. Naveen Begwani |
|
Designation : |
Chief Finance Officer |
|
Address : |
C-162, Pilots Court, Essel Towers, M.G. Road, Gurgaon – 122002, Haryana, India |
|
Date of Appointment : |
16.12.2016 |
|
PAN No.: |
ACZPB9625K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
South Asian Breweries Pte Limited, Singapore |
|
57612590 |
|
Carlsberg Asia Pte Limited, Singapore |
|
1 |
|
|
|
|
|
Total |
|
57612591 |
|
Names of Shareholder (Preference Share) |
|
No. of Shares |
|
South Asian Breweries Pte Limited, Singapore |
|
24511333 |
|
|
|
|
|
Total |
|
24511333 |
AS ON: 25.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters (BodY corporate) |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Manufacturing and Sale of Alcoholic Beer. [Registered Activity] |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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||||
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Terms : |
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||||
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
· The Bank of Tokyo- Mitsubishi UFJ Limited Jeevan Vihar Building, 3, Parliament Street, New Delhi - 110001, Delhi, India · BNP Paribas East Tower (Sood Tower), 1st Floor, 25, Barakhamba Road, New Delhi - 110001, India |
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Facilities : |
|
|
|
|
|
Auditors : |
|
|
Name : |
B S R and Company Chartered Accountants |
|
Address : |
Building No. 10, 8Th Floor, Tower-B, DLF Cyber City, Phase-I, Gurgaon, Haryana, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFB9852F |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Ultimate
Holding company: |
Carlsberg A/S, Denmark |
|
|
|
|
Holding
company: |
South Asian Breweries Pte. Limited., |
|
|
|
|
Subsidiary
company |
Parag Breweries Limited [U15531DL2005PLC288002] |
|
|
|
|
Fellow
Subsidiary Company: |
· Carlsberg Brewery · Carlsberg Breweries A/S · Gorkha Brewery Pvt. Limited · Carlsberg South Asia Pte Limited · Carlsberg Brewery Hong Kong Limited · Carlsberg Supply Co. AG · Carlsberg Indochina Limited · CSC Asia Limited |
|
|
|
|
Joint
venture: |
NCC Crowns Private Limited [U28991DL2015PTC288209] |
CAPITAL STRUCTURE
AS ON: 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
154580000 |
Equity Shares |
INR 10/- each |
INR 1545.800 Million |
|
25000000 |
Preference Shares |
INR 10/- each |
INR 250.000 Million |
|
|
Total |
|
INR 1795.800
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
57612591 |
Equity Shares |
INR 10/- each |
INR 576.126 Million |
|
24511333 |
Preference Shares |
INR 10/- each |
INR 245.113
Million |
|
|
Total |
|
INR 821.239 Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
821.239 |
815.302 |
793.673 |
|
(b) Reserves and Surplus |
6077.306 |
6895.660 |
6566.399 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
273.056 |
|
Total
Shareholders’ Funds (1) + (2) |
6898.545 |
7710.962 |
7633.128 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
125.000 |
374.999 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
81.602 |
72.196 |
50.271 |
|
Total Non-current Liabilities
(3) |
81.602 |
197.196 |
425.270 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
3129.810 |
2428.409 |
2025.598 |
|
(b) Trade
payables |
3565.694 |
2431.183 |
1868.996 |
|
(c) Other
current liabilities |
870.317 |
788.618 |
699.548 |
|
(d) Short-term
provisions |
53.262 |
49.398 |
42.718 |
|
Total Current
Liabilities (4) |
7619.083 |
5697.608 |
4636.860 |
|
|
|
|
|
|
TOTAL |
14599.230 |
13605.766 |
12695.258 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
6168.705 |
6771.359 |
6933.053 |
|
(ii)
Intangible Assets |
11.344 |
16.072 |
14.581 |
|
(iii) Tangible assets
capital work-in-progress |
241.661 |
186.013 |
410.864 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1082.329 |
988.329 |
988.329 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
133.572 |
102.520 |
90.063 |
|
(e) Other
Non-current assets |
1.501 |
2.045 |
1.000 |
|
Total Non-Current
Assets |
7639.112 |
8066.338 |
8437.890 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2391.592 |
1577.523 |
1121.627 |
|
(c) Trade
receivables |
3344.577 |
2793.885 |
2418.971 |
|
(d) Cash and
bank balances |
513.959 |
227.115 |
176.342 |
|
(e)
Short-term loans and advances |
561.798 |
571.732 |
327.744 |
|
(f) Other
current assets |
148.194 |
369.173 |
212.684 |
|
Total Current
Assets |
6960.120 |
5539.428 |
4257.368 |
|
|
|
|
|
|
TOTAL |
14599.232 |
13605.766 |
12695.258 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
11514.278 |
7907.741 |
6375.946 |
|
|
Other Income |
22.486 |
9.754 |
30.843 |
|
|
TOTAL |
11536.764 |
7917.495 |
6406.789 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
6415.641 |
4659.587 |
3821.932 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
40.502 |
49.525 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(750.486) |
(289.113) |
(520.827) |
|
|
Employee benefit expense |
1380.218 |
1166.875 |
1048.803 |
|
|
CSR expenditure |
0.272 |
0.000 |
0.000 |
|
|
Other expenses |
5061.358 |
3815.050 |
3419.401 |
|
|
Exceptional items before tax |
0.000 |
0.000 |
42.326 |
|
|
TOTAL |
12107.003 |
9392.901 |
7861.160 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(570.239) |
(1475.406) |
(1454.371) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
210.602 |
167.562 |
174.098 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(780.841) |
(1642.968) |
(1628.469) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
987.457 |
872.726 |
564.043 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(1768.298) |
(2515.694) |
(2192.512) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(1768.298) |
(2515.694) |
(2192.512) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
0.000 |
0.000 |
154.584 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
260.476 |
363.190 |
242.286 |
|
|
Components and spare
parts |
19.926 |
13.515 |
10.608 |
|
|
Capital Goods |
41.703 |
30.090 |
318.441 |
|
|
TOTAL IMPORTS |
322.104 |
406.795 |
571.335 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(30.78) |
(44.65) |
(41.14) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
125.000 |
250.000 |
125.000 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
(428.145) |
(2036.867) |
(2210.624) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(423.944) |
(2038.833) |
(2210.624) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
106.02 |
128.96 |
138.48 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.44 |
2.83 |
2.64 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
202.86 |
188.80 |
176.21 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
(0.24) |
(0.94) |
(1.30) |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
(0.09) |
(0.21) |
(0.20) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.53 |
0.45 |
0.40 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.47 |
0.36 |
0.33 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.10 |
0.74 |
0.61 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.93 |
0.90 |
0.96 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
(2.71) |
(8.81) |
(8.35) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(15.36) |
(31.81) |
(34.39) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(12.11) |
(18.49) |
(17.27) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(25.63) |
(32.62) |
(28.72) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.91 |
0.97 |
0.92 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.60 |
0.70 |
0.68 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.47 |
0.57 |
0.60 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
3.96 |
3.44 |
3.18 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.91 |
0.97 |
0.92 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
793.673 |
815.302 |
821.239 |
|
Reserves & Surplus |
6566.399 |
6895.660 |
6077.306 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
273.056 |
0.000 |
0.000 |
|
Net
worth |
7633.128 |
7710.962 |
6898.545 |
|
|
|
|
|
|
Long-term borrowings |
374.999 |
125.000 |
0.000 |
|
Short term borrowings |
2025.598 |
2428.409 |
3129.810 |
|
Current maturities of
long-term debts |
125.000 |
250.000 |
125.000 |
|
Total
borrowings |
2525.597 |
2803.409 |
3254.810 |
|
Debt/Equity
ratio |
0.331 |
0.364 |
0.472 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
6375.946 |
7907.741 |
11514.278 |
|
|
|
24.025 |
45.608 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
6375.946 |
7907.741 |
11514.278 |
|
Profit/ (Loss) |
(2192.512) |
(2515.694) |
(1768.298) |
|
|
(34.39
%) |
(31.81
%) |
(15.36
%) |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
821.239 |
815.302 |
|
(b) Reserves and Surplus |
|
6449.247 |
7062.772 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
7270.486 |
7878.074 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
125.000 |
|
(b) Deferred tax liabilities (Net) |
|
38.782 |
0.000 |
|
(c) Other long-term
liabilities |
|
30.701 |
25.820 |
|
(d) long-term
provisions |
|
84.943 |
74.454 |
|
Total Non-current
Liabilities (3) |
|
154.426 |
225.274 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
3129.810 |
2642.670 |
|
(b) Trade
payables |
|
3880.084 |
2642.381 |
|
(c) Other
current liabilities |
|
918.667 |
696.195 |
|
(d) Short-term
provisions |
|
122.622 |
67.019 |
|
Total Current
Liabilities (4) |
|
8051.183 |
6048.265 |
|
|
|
|
|
|
TOTAL |
|
15476.095 |
14151.613 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
6717.957 |
7336.513 |
|
(ii)
Intangible Assets |
|
225.656 |
230.384 |
|
(iii) Tangible assets
capital work-in-progress |
|
482.055 |
236.377 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.100 |
0.100 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
|
226.452 |
134.246 |
|
(e) Other Non-current
assets |
|
1.500 |
2.045 |
|
Total Non-Current
Assets |
|
7653.720 |
7939.665 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
2526.410 |
1745.048 |
|
(c) Trade
receivables |
|
3908.595 |
3244.378 |
|
(d) Cash and
bank balances |
|
642.905 |
228.313 |
|
(e)
Short-term loans and advances |
|
595.810 |
625.034 |
|
(f) Other
current assets |
|
148.655 |
369.175 |
|
Total
Current Assets |
|
7822.375 |
6211.948 |
|
|
|
|
|
|
TOTAL |
|
15476.095 |
14151.613 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
|
12754.018 |
9061.072 |
|
|
Other Income |
|
24.210 |
10.439 |
|
|
TOTAL |
|
12778.228 |
9071.511 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
6851.601 |
5141.809 |
|
|
Purchases of
Stock-in-Trade |
|
0.000 |
40.502 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(721.890) |
(337.078) |
|
|
Employee benefit expense |
|
1441.331 |
1239.771 |
|
|
Other expenses |
|
5405.643 |
4165.858 |
|
|
TOTAL |
|
12976.685 |
10250.862 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
(198.457) |
(1179.351) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
216.927 |
196.995 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
(415.384) |
(1376.346) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
1069.629 |
952.638 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
(1485.013) |
(2328.984) |
|
|
|
|
|
|
|
Less |
TAX |
|
78.456 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
(1563.469) |
(2328.984) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
(27.22) |
(41.35) |
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 |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
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 |
No |
|
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
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G19838945 |
100058386 |
BNP PARIBAS |
16/09/2016 |
- |
- |
2850000000.0 |
EAST TOWERS (SOOD TOWERS), 8TH FLOOR,25 BARAKHAMBA ROAD,NEW DELHIDL110001IN |
|
2 |
G04325098 |
10179712 |
BNP PARIBAS |
25/09/2009 |
17/03/2016 |
- |
3437689500.0 |
EAST TOWERS (SOOD TOWERS), 08TH FLOOR, 25,BARAKHAMBA ROAD,NEW DELHIDL110001IN |
|
3 |
G55523336 |
10288067 |
THE BANK OF TOKYO-MITSUBISHI UFJ. LTD. |
05/04/2011 |
27/01/2016 |
03/10/2017 |
1000000000.0 |
JEEVAN VIHAR BUILDING3, PARLIAMENT STREETNEW DELHIDL110001IN |
|
4 |
B59500462 |
80065713 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA |
17/01/2000 |
30/10/2001 |
14/09/2012 |
120000000.0 |
IDBI TOWERCUFFE PARADE, COLABAMUMBAIMH400005IN |
|
5 |
B59504803 |
80065709 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA |
09/12/2003 |
- |
14/09/2012 |
25000000.0 |
IDBI TOWER, CUFFE PARADE,COLABAMUMBAIMH400005IN |
|
6 |
B58970682 |
80065693 |
HARYANA STATE INDUSTRIAL DEVELOPMENT CORPORATION LIMITED |
13/08/2002 |
31/10/2002 |
14/09/2012 |
30000000.0 |
C-13-14, SECTOR-6PANCHKULAHR134113IN |
|
7 |
B59503516 |
80065716 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA |
17/01/2000 |
19/07/2004 |
14/09/2012 |
23500000.0 |
IDBI TOWER, CUFFE PARADE, COLABA,MUMBAIMH400005IN |
|
8 |
B59314211 |
80065710 |
ORIENTAL BANK OF COMMERCE |
29/10/2003 |
- |
11/09/2012 |
8400000.0 |
89, HEMKUNT TOWERNEHRU PLACENEW DELHIDL110019IN |
|
9 |
B59311936 |
80065708 |
ORIENTAL BANK OF COMMERCE |
18/07/2005 |
- |
11/09/2012 |
29700000.0 |
89, HEMKUNT CHAMBERSNEHRU PLACENEW DELHIDL110019IN |
|
10 |
B59315309 |
80065711 |
ORIENTAL BANK OF COMMERCE |
19/08/2003 |
18/07/2005 |
11/09/2012 |
236400000.0 |
89, HEMKUNT TOWERNEHRU PLACENEW DELHIDL110049IN |
|
11 |
B59316422 |
80065712 |
ORIENTAL BANK OF COMMERCE |
28/02/2001 |
20/11/2002 |
11/09/2012 |
120000000.0 |
N, BLOCK, GREATER KAILASH-INEW DELHIDL110048IN |
BACKGROUND
The Company is primarily engaged in the business of manufacturing and sale of alcoholic beer. The Company was incorporated in 2006 and has established breweries, spread across various parts of the country.
PERFORMANCE
During the Financial Year, the Company recorded a growth of 44.64% in the net sales revenue of the products. The net product sale for the Financial Year ended 31st March 2016 was INR 11069.340 Million (previous Financial Year ended 31st March, 2015 was INR7652.670 Million).
The growth in volume and sales is driven due to increased consumer demand for our brands, sustainable marketing support and coupled with increased production capacity of the Company as a result of its operational Contract manufacturing tie ups. The same has eventually contributed towards an increased market share of the Company.
However, for the Financial Year, the Company has reduced its losses from previous years driven by increased sales and cost optimization.
The Directors are pleased to inform you that the Company has been able to retain its No.3 position in the Indian Beer Market and garnered around 15.8% market share (considering markets when Company operates) with an overall growth of upto45%.
The Company and brands have earned the following prestigious Awards:
(a) Tuborg Strong was awarded for its outstanding quality and taste at the 2016 Ambrosia Awards, a noted award event for the Alcobev industry.
(b) Spiritz Jury Award for the Most Dynamic Company of the year at the Spritiz awards 2015 for its remarkable performance in terms of growth and volume contribution in the Indian beer industry.
(c) Health and Safety Award for Best Improver in Asia Region for 2014 at the Carlsberg Groups Global Health and Safety Conference in Copenhagen.
(d) Silver Award for Sales automation through CHEERS application at Carlsberg Groups Annual Asia Sales & Marketing conference in Bangkok.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2016 (INR
In Million) |
31.03.2015 (INR
In Million) |
|
Corporate guarantee to BNP Paribas against loan to Parag Breweries Limited |
500.000 |
500.000 |
|
Dividend on 2% cumulative preference shares (including corporate dividend tax) (from 15 March 2007) |
51.932 |
46.181 |
|
Claims not acknowledged as debts (to the extent quantified) |
20.021 |
11.333 |
|
Service tax demands* |
104.940 |
102.097 |
|
Sales tax* |
240.845 |
246.492 |
|
Others # |
4.629 |
4.629 |
|
|
|
|
|
NOTE: * Include cases amounting to INR Nil (Previous period INR 6054277) filed subsequent to balance sheet date. # The Company acquired the assets of Himneel Breweries Limited (HBL) from Industrial Finance Corporation of India (IFCI) in May 2007. At the time of acquisition, recovery proceedings were pending against HBL for Provident Fund (PF) dues prior to 2007 by the Employees Provident Fund Organization (EPFO), Himachal Pradesh. HBL had, against the said recovery proceedings, obtained a stay order from the Provident Fund Tribunal. |
||
|
The Company had received a notice from the EPFO on 19 November 2007 for the recovery of Provident Fund dues against the brewery which was acquired and being operated by the Company. In 2008, the EPFO got the Provident Fund Tribunal stay order vacated from the High Court of Himachal Pradesh and issued notice to the Company on 11 September 2008 for the recovery of old dues amounting to INR 4629277 pertaining to liability of HBL. Subsequently, the EPFO on 6 January 2009 attached one bank account of the Company against which the Company filed a Writ Petition in the High Court of Himachal Pradesh stating that the Company is not liable to pay these dues as this liability accrues to HBL and HBL is contesting the matter before the Provident Fund Tribunal. The High Court of Himachal Pradesh admitted the Writ Petition of the Company and granted stay order on 9 January 2009 subject to submission of bank guarantee of INR 3475781 by the Company, which has been done. The Company’s bank account has been released. However, pending the final outcome of the case, the amount has been disclosed as a contingent liability. |
||
FIXED ASSETS:
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipment’s
·
Leasehold improvements
PRESS RELEASE
CARLSBERG INDIA
ESTABLISHES ITS NEW BREWERY IN KARNATAKA
24.01.2018
Aims to further strengthen its capacity and foothold in the Southern Region
Reinforcing its commitment to India and strengthening its increasing footprint in the country, Carlsberg India, part of the global beer giant Carlsberg Group, establishes its new brewery in Karnataka. While Carlsberg India’s popular brands, Carlsberg and Tuborg have already been available in the state and appreciated by consumers over the years, the establishment of this new brewery is an aspirational step to further strengthen Carlsberg India’s significant growth opportunity in the state. This shall be Carlsberg India’s 8thbrewery in the country. While currently being the 3rd largest player in the Indian beer market, this development is a significant move towards Carlsberg India’s journey of further strengthening its position in the region while contributing positively to the local communities.
The state-of-the-art brewery is spread over around 27.1 acres of land in Nanjangud Taluka, near Mysuru. With an annual production capacity of 800 KHL (80 million litres), the brewery shall manufacture all brands in Carlsberg India’s existing product portfolio.
The brewery, with a green area of over 48,000 sqm, is well equipped with efficient and environment friendly facilities for Rain Water Harvesting and Waste water management.
Karnataka being an important market, the team at Carlsberg India continues its aim to provide consumers with memorable experiences through their superior quality flagship brand Carlsberg and Tuborg (India’s number 1 international beer brand). Recently, Kronenbourg 1664, a leading beer brand from Carlsberg Group’s Global portfolio is now being imported and available in select markets across India, including Bangalore.
Currently, Carlsberg India owns 8 (eight) breweries at different strategic locations of the country along with 4 contract manufacturing associations.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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 : |
PUJ |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--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.