|
|
|
MIRA
INFORM REPORT
|
Report No. : |
494609 |
|
Report Date : |
27.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
PARLE BISCUITS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
North Level Crossing, Vile Parle (East), Mumbai – 400057, Maharashtra |
|
Tel. No.: |
91-22-66916911/ 12 / 66916929 / 67130300 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
26.09.1974 |
|
|
|
|
Com. Reg. No.: |
11-017797 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 4.950 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15412MH1974PTC017797 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0397033532 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AAACP0485D1ZO |
|
|
|
|
TIN No: |
27060336796 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP0485D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers of biscuits, confectionery, snacks and
bakery items. [Registered
Activity] |
|
|
|
|
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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Maximum Credit Limit : |
USD 71000000 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is India’s largest manufacturer of biscuits and confectionery.
Makers of the world’s largest selling biscuit, Parle-G, and a host of other
very popular brands, the Parle name symbolizers quality, nutrition and great
taste. Today the brand is undoubtedly a major player, owning a large chunk of
the INR 270000.000 million biscuit business. Management has failed to file its financials with the Registrar of
Companies with Registrar of Companies for the FY 2017. For the financial year 2016, the company has achieved revenue growth of
5.42% as compared to the previous year along with an average profit margin of
5.48%. The rating on Parle Biscuits Private Limited take into account the
consistent track record of achieving better than industry volume growth,
strong operating efficiencies, robust financial risk profile along worth
strong networth base and decent liquidity. The rating continue to derive strength from the vast experienced
promoter’s group, strong brand image and presence across nationwide along
with diversified products portfolio. However, the rating strengths are constrained on company presence in
an industry that is currently highly fragmented and competitive along with
working capital intensive nature of business and volatility in input prices. Business is active. Payments seems to be registrar and as per commitment.
In view of the aforesaid, the company can be considered good for
business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
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
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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 28.02.2018
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 DENIED
91-22-67130300 (MANAGEMENT NON COOPERATIVE)
LOCATIONS
|
Registered Office : |
North Level Crossing, Vile Parle (East), Mumbai – 400057, Maharashtra,
India |
|
Tel. No.: |
91-22-66916911/ 12 / 66916929 / 67130300 |
|
Fax No.: |
91-22-66916927 / 66916926 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Industrial |
|
|
|
|
Factory 1 : |
SP-2/4, RIICO Industrial Area, Delhi Jaipur Road, District Alwar,
Neemrana, Rajasthan, India |
|
Tel No : |
91-1494-246312 |
|
Fax No. : |
91-1494-246180 |
|
|
|
|
Factory 2 : |
36, 8 KM Delhi Rohtak Road, Village Sankhol, Near Bahadurgarh, District Rohtak – 124 507, Haryana, India |
|
Tel No : |
91-1276-2341547 / 48 |
|
Fax No. : |
91-1276-2341406 |
|
|
|
|
Factory 3 : |
Plot No 3, Sector 1, Integrated Industrial Estate, Rudrapur-263153,
Uttaranchal, India |
|
Tel No : |
91-594-4247431 / 32 /33 |
|
|
|
|
Factory 4 : |
Village Tambati, P.O. Dount, Taluka Khalapur, District Raigad –
410202, Maharashtra, India |
DIRECTORS
AS ON 31.03.2016
|
Name : |
Mr. Hariharan Kalathu Iyer |
|
Designation : |
Director |
|
Address : |
11, Giri Vihar, Rammaruthi Cross Lane No. 3 Naupada, Thane – 400602,
Maharashtra, India |
|
Date of Birth/Age : |
01.05.1954 |
|
Date of Appointment : |
15.09.2010 |
|
DIN No.: |
03086518 |
|
|
|
|
Name : |
Ms. Snehal Pravin Pawar |
|
Designation : |
Director |
|
Address : |
B/201, Shri Chint Amani Nagar,, Ashok Van, Dahisar (East), Mumbai - 400068, Maharashtra, India |
|
Date of Appointment : |
13.05.2015 |
|
DIN No.: |
07181764 |
|
|
|
|
Name : |
Mr. Ravindra Khandu Mhatre |
|
Designation : |
Director |
|
Address : |
S/O.Khandu Mhatre, B-17/102, Amar Chhaya Chs Ltd, Shanti Nagar, Sector No.7, Mira Road East, Thane - 401107, Maharashtra, India |
|
Date of Appointment : |
13.05.2015 |
|
DIN No.: |
07181748 |
KEY EXECUTIVES
|
Name : |
Mr. Atab Singh |
|
Designation : |
Deputy Manager in Printing |
|
|
|
|
Name : |
Natesan and Company |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
Parle Products Private Limited, India |
|
49499 |
|
Mr. R.S. Nevatia and Mr. Parag Khansaheb jointly with Products Private
Limited, India |
|
1 |
|
Total |
|
49500 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Promoters - Body corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of biscuits, confectionery, snacks and
bakery items. [Registered
Activity] |
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
||||||
|
Brand Names : |
Not Available |
||||||
|
|
|
||||||
|
Agencies Held : |
Not Available |
||||||
|
|
|
||||||
|
Exports : |
Not Divulged |
||||||
|
|
|
||||||
|
Imports : |
Not Divulged |
||||||
|
|
|
||||||
|
Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
|
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|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
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|
||||||||||||||||||||||
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No. of Employees : |
Not Divulged |
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
N. S. Buhariwalla and Associates Chartered Accountants |
|
Address : |
201/ 203, Konark Classic, 85, Hill Road, Bandra, Mumbai – 400050,
Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ABRPB4654P |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company: |
Parle Products Private Limited (U15400MH1950PTC008334) |
|
|
|
|
Subsidiary company |
|
|
|
|
|
Associates: |
|
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key management personnel and their relatives |
Parle Kisan Seva Kendra LLP |
CAPITAL STRUCTURE
As on 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
INR 100/- each |
INR 5.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
49500 |
Equity Shares |
INR 100/- each |
INR 4.950 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
4.950 |
4.950 |
4.950 |
|
(b) Reserves and Surplus |
24975.442 |
21208.685 |
17811.145 |
|
(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) |
24980.392 |
21213.635 |
17816.095 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
240.000 |
120.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
153.397 |
86.773 |
129.585 |
|
(d) long-term
provisions |
468.418 |
521.779 |
188.745 |
|
Total Non-current
Liabilities (3) |
861.815 |
728.552 |
318.330 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
3451.073 |
3474.380 |
4142.178 |
|
(c) Other
current liabilities |
1143.187 |
1404.088 |
912.018 |
|
(d) Short-term
provisions |
57.734 |
58.538 |
56.999 |
|
Total Current
Liabilities (4) |
4651.994 |
4937.006 |
5111.195 |
|
|
|
|
|
|
TOTAL |
30494.201 |
26879.193 |
23245.620 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
3890.555 |
3785.329 |
3880.269 |
|
(ii)
Intangible Assets |
14.134 |
17.252 |
22.970 |
|
(iii) Tangible assets
capital work-in-progress |
181.875 |
417.839 |
277.913 |
|
(iv)
Intangible assets under development |
231.692 |
89.437 |
4.511 |
|
(b) Non-current Investments |
5277.928 |
3882.026 |
2486.474 |
|
(c) Deferred tax assets (net) |
281.431 |
224.327 |
81.567 |
|
(d)
Long-term loans and advances |
1313.373 |
1319.477 |
1372.462 |
|
(e) Other
Non-current assets |
20.306 |
9.045 |
12.645 |
|
Total Non-Current
Assets |
11211.294 |
9744.732 |
8138.811 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
7690.930 |
6213.559 |
4686.419 |
|
(b)
Inventories |
6563.397 |
6435.827 |
6443.409 |
|
(c) Trade
receivables |
1426.422 |
1511.280 |
1380.319 |
|
(d) Cash and
bank balances |
2474.852 |
2075.565 |
1754.331 |
|
(e)
Short-term loans and advances |
872.106 |
754.169 |
770.635 |
|
(f) Other
current assets |
255.200 |
144.061 |
71.696 |
|
Total
Current Assets |
19282.907 |
17134.461 |
15106.809 |
|
|
|
|
|
|
TOTAL |
30494.201 |
26879.193 |
23245.620 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
68675.001 |
65144.002 |
58115.252 |
|
|
Other Income |
1719.733 |
1632.797 |
908.435 |
|
|
TOTAL |
70394.734 |
66776.799 |
59023.687 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
43327.917 |
42808.593 |
38963.370 |
|
|
Purchases of
Stock-in-Trade |
408.546 |
302.610 |
73.088 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
58.090 |
(41.298) |
(639.657) |
|
|
Employee benefit expense |
1722.344 |
1520.457 |
1330.344 |
|
|
CSR expenditure |
15.477 |
64.101 |
0.000 |
|
|
Other expenses |
18379.882 |
16152.641 |
15145.859 |
|
|
Exceptional items |
0.000 |
(0.218) |
(0.075) |
|
|
Extraordinary items |
2.790 |
(2.223) |
46.750 |
|
|
TOTAL |
63915.046 |
60804.663 |
54919.679 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
6479.688 |
5972.136 |
4104.008 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
11.475 |
13.395 |
23.166 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
6468.213 |
5958.741 |
4080.842 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
912.012 |
978.140 |
740.755 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
5556.201 |
4980.601 |
3340.087 |
|
|
|
|
|
|
|
Less |
TAX |
1789.444 |
1566.017 |
967.563 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
3766.757 |
3414.584 |
2372.524 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD |
3114.584 |
2372.524 |
2290.896 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
3141.584 |
2355.480 |
2290.896 |
|
|
Depreciation on transition to Schedule II |
0.000 |
17.044 |
0.000 |
|
|
Total |
3141.584 |
2372.524 |
2290.896 |
|
|
|
|
|
|
|
|
Balance Carried to the B/S |
3739.757 |
3414.584 |
2372.524 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN CURRENCY |
|
|
|
|
|
FOB value of manufactured goods |
0.000 |
0.000 |
18.560 |
|
|
Earnings on professional and consultation fees |
7.111 |
9.180 |
6.105 |
|
|
Earnings on interest |
40.627 |
43.049 |
43.054 |
|
|
Insurance |
260.300 |
192.124 |
0.000 |
|
|
TOTAL EARNINGS |
308.038 |
244.353 |
67.719 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
545.333 |
388.451 |
332.317 |
|
|
Components and Stores parts |
5.924 |
15.843 |
7.511 |
|
|
Capital Goods |
191.632 |
264.140 |
13.640 |
|
|
TOTAL IMPORTS |
742.889 |
668.434 |
353.468 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
76152.46 |
68936.59 |
48874.22 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
5340.563 |
4498.541 |
4208.808 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
3043.307 |
2800.266 |
2407.810 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
7.58 |
8.47 |
8.67 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
48.14 |
43.11 |
42.10 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
28.80 |
29.42 |
38.73 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.99 |
0.93 |
0.64 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.50 |
1.39 |
0.98 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets) |
0.16 |
0.19 |
0.22 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.01 |
0.01 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.19 |
0.23 |
0.29 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.17 |
0.20 |
0.23 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
564.68 |
445.85 |
177.16 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin (PAT / Sales) * 100) |
% |
5.48 |
5.24 |
4.08 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
12.35 |
12.70 |
10.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
15.08 |
16.10 |
13.32 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
4.15 |
3.47 |
2.96 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
2.73 |
2.17 |
1.69 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.82 |
0.79 |
0.77 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
48.48 |
24.24 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
4.15 |
3.47 |
2.96 |
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
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
4.950 |
4.950 |
4.950 |
|
Reserves & Surplus |
17811.145 |
21208.685 |
24975.442 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
17816.095 |
21213.635 |
24980.392 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
120.000 |
240.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
120.000 |
240.000 |
|
Debt/Equity
ratio |
0.000 |
0.006 |
0.010 |
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 |
58115.252 |
65144.002 |
68675.001 |
|
|
|
12.095 |
5.420 |
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 |
58115.252 |
65144.002 |
68675.001 |
|
Profit/ (Loss) |
2372.524 |
3414.584 |
3766.757 |
|
|
4.08
% |
5.24
% |
5.48
% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
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 |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
--- |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATIONS:
The sales for the year amounted to INR 68675.001 million compared to previous year’s sales of 65144.002 million showing an increase of 5.42%. The Net Profit Before Tax is INR 5556.201 Million as compared to INR 4980.601 Million for the previous year showing an increase of 11.56 %.
Note: The Registered office of the company is shifted from V.S. Khandekar Marg, ILE Parle (East) Mumbai - 400057, Maharashtra, India to present address w.e.f. 08.09.2007.
INDEX OF CAHREGS:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C79718813 |
10493158 |
KOTAK MAHINDRA BANK LIMITED |
24/04/2014 |
01/02/2016 |
- |
240000000.0 |
27-BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India |
|
2 |
C67049080 |
10133414 |
KOTAK MAHINDRA BANK LIMITED |
07/11/2008 |
29/09/2015 |
- |
1250000000.0 |
27-BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India |
|
3 |
A56769185 |
10112403 |
ALLAHABAD BANK |
28/03/2008 |
- |
10/02/2009 |
79000000.0 |
KAISARGANJ, BAHRAICH-271903, Uttar Pradesh, India |
FIXED ASSETS
- Land and Building
- Furniture’s and Fixtures
- Office Equipment
- Computer
- Vehicles
PRESS RELEASE:
PARLE TO HIKE PRICES,
REDUCE QUANTITY OF BISCUITS IN SOME PACKS AS GST BITES
GST rate on biscuits at 18% is much higher than the earlier 12% in
value-added tax that companies had to pay
Feb 26 2018: Bengaluru: For nearly 80 years, Parle G has been a household name in biscuits and the key reason behind its success has been its ability to stick to its position as a mass brand.
That premise will be put to the test three months from now and could result in significant volume losses as Parle Products Pvt. Ltd reluctantly gears up to both reduce the number of biscuits in some Parle G stock-keeping units (SKUs) and hike prices outright on otheINR .
Parle has been loathe to hike prices of its Parle G brand, and other biscuits including Marie that cost less than INR 100 per kg, even though the company has talked about doing so after goods and services tax (GST) was implemented last July.
“There are certain decisions which are irreversible because they are huge and everyone—including consumers—would take a hit,” said Mayank Shah, category head of biscuits at Parle. By May, the firm’s revised pricing strategy for these lower-end brands ought to reflect on retail shelves.
In Parle G, for instance, the company sells its biscuits in various SKUs (pack sizes) that start from INR 2 and go up to INR 100. For SKUs that cost less than INR 10, it will not hike prices but will reduce the number of biscuits in each pack—mostly by one biscuit. In those that cost INR 10 and above, it will increase prices by 4% on average, Shah said.
GST rate on biscuits, at 18%, is much higher than the earlier 12% in value-added tax that companies had to pay. While that has not impacted the more premium segments of the biscuit market, it has hit the bottom end of the pyramid where Parle G operates.
After GST was implemented, the company initially talked about hiking prices of Parle G by March, according to a PTI report last year. That has now been pushed to May, and yet, there is hesitation. The segment is so price-sensitive that knocking just one biscuit off a INR 2 pack, for instance, could impact sales to the tune of 30-50%, said Shah.
“It’s a risky proposition to reduce the quantity or size of an accepted mass brand at the same price. A marginal price increase may be still acceptable by masses compared to a size and quantity reduction as people know there will be a gradual price increase in everything,” said Sreedhar Prasad, partner and head of consumer markets at KPMG.
The bulk of Parle’s business is, indeed, no longer in the glucose biscuits category. Biscuits that cost less than INR 100 a kg, account for only 30% of overall revenue compared with over 60% during Parle G’s heydey.
And the overall biscuit market is doing quite well with Parle’s volume and value sales growing at 12-15% between January and December 2017.
While Shah is banking on the non-mass, premium part of his portfolio—led by Hide & Seek, Milano and Simply Good—to boost profits and growth ahead, co-category head Krishna Rao’s mandate is to drive growth in other non-biscuit categories ranging from confectionary to snacks.
“They make minuscule profits on Parle G but it helps us in many other things, right from sourcing, and it gives you that kind of scale and presence in the market. If Parle G is going to ten shops, along with that, you can sell many other things. It’s not really for profitability that they operate it,” Shah said.
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 64.85 |
|
|
1 |
INR 90.58 |
|
Euro |
1 |
INR 79.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
PYK |
|
|
|
|
Report Prepared
by : |
MTN |
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.