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MIRA INFORM REPORT
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Report No. : |
498142 |
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Report Date : |
17.03.2018 |
IDENTIFICATION DETAILS
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Name : |
DABUR INDIA LIMITED |
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Registered Office : |
8/3, Asaf Ali Road, New Delhi – 110 002 |
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Tel. No.: |
91-144-2881542 |
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Country : |
India |
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Financials (as on) : |
31.03.2017 |
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Date of Incorporation : |
16.09.1975 |
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Com. Reg. No.: |
55-007908 |
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Capital Investment / Paid-up Capital : |
INR 1761.500 Million |
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CIN No.: [Company
Identification No.] |
L24230DL1975PLC007908 |
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IEC No.: [Import-Export Code No.] |
0588002917 |
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TIN No.; |
07780017891 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
Not Divulged |
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PAN No.: [Permanent
Account No.] |
AAACD0474C |
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GSTN : [Goods
& Service Tax Registration No.] |
07AAACD0474C1Z7 |
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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 : |
The company is one of the FMCG players dealing in consumer care and
food products, it manufactures personal-care, healthcare, and food
products. [Registered
Activity] |
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No. of Employees : |
7423 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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Maximum Credit Limit : |
USD 104511000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Dabur India Limited was incorporated in the year 1975. It is a manufacturer
of personal-care, healthcare, and food products with 16 brands. Dabur is one of India’s largest FMCG companies and has a strong market
position, baked by products with goods brand appeal. For the financial year ended 2017 , the company has reported dip in
its revenue by 0.972 as compared to the previous year along with a decent
profit margin of 18.59%. The sound financial risk profile of the company is marked by adequate
networth base along with strong debt coverage indicators due to low debt
balance sheet profile. Rating takes into consideration long business standing, established
marked by position, extensive experience of promoters along with its strong
and renowned brand name ‘Dabur’. Payments seems to be regular. In view of the aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
CRISIL |
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Rating |
Long-term bank facilities - AAA |
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Rating Explanation |
Highest degree of safety and carry lowest credit risk |
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Date |
23.06.2017 |
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Rating Agency Name |
CRISIL |
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Rating |
Short-term bank facilities – A1+ |
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Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
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Date |
23.06.2017 |
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 17.03.2018
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
Management non-cooperative (Tel No.:91-144-2881542)
Tel No.:91-144-5132101 / 5132102 / 91-1795-24385 (Continuously Ringing)
LOCATIONS
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Registered Office : |
8/3, Asaf Ali Road, New Delhi – 110 002, India |
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Tel. No.: |
91-144-2881542 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office : |
Kaushambi, Sahibabad, Ghaziabad – 201010, Uttar Pradesh, India |
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Factory1 : |
Plot No. 4, Sector No. 2, I.I.E., Pantanagar – 263146, District Udham Singh Nagar, India |
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Factory 2: |
Alwar SP-C 162, Matsya Industrial Area, Alwar – 301 030, Rajasthan, India |
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Tel. No.: |
91-144-2881542 / 5132101 / 5132102 |
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Fax No.: |
91-144-2881302 |
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Factory 3: |
Chyawanprash
Unit 220-221, HPSIDC Industrial Area, Baddi, Solan – 173 205, Himachal Pradesh,
India |
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Tel. No.: |
91-1795-244385 |
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Fax No.: |
91-1795-244090 |
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Factory 4: |
Hajmola
Unit / Honitus/Nature
Care Unit 109, HPSIDC Industrial Area, Baddi, Solan – 173 205, Himachal Pradesh,
India |
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Tel. No.: |
91-1795-244385 |
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Fax No.: |
91-1795-244090 |
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Factory 5: |
Amla/Honey Unit
/ Shampoo Unit / Red Toothpaste Unit / Air Freshener Unit / Toothpowder
Unit / Skin
Care / CTGO Unit Village Billanwali Lavana, Baddi, Solan – 173 205, Himachal Pradesh,
India |
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Tel. No.: |
91-1795-244385 |
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Fax No.: |
91-1795-244090 |
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Factory 6: |
Baddi – Glucose Unit Plot No.12, HPSIDC, Industrial Area, Baddi, Himachal Pradesh, India |
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Factory 7: |
Oral Care Unit 601, Malku Majra, Nalagarh Road, Baddi, Solan – 173 205, Himachal
Pradesh, India |
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Tel. No.: |
91-1795-246363 /247271 |
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Fax No.: |
91-1795- 246363 |
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Factory 8: |
Food Supplement Unit 220-221, HPSIDC Industrial Area, Baddi, Solan – 173 205, Himachal
Pradesh, India |
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Tel. No.: |
91-1795-245191 / 92 |
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Fax No.: |
91-1795-244090 |
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Factory 9: |
Food Supplement
Unit 221, HPSIDC Industrial Area, Baddi, Solan – 173 205, Himachal Pradesh,
India |
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Tel. No.: |
91-1795-244385 |
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Fax No.: |
91-1795-244090 |
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Factory 10: |
Green Field Unit Village Manakpur,Tehsil Baddi, Solan – 174 101, Himachal Pradesh,
India |
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Tel. No.: |
91-1795-244385 |
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Fax No.: |
91-1795-244090 |
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Factory 11: |
Jammu Unit I, II, III Lane No.3, Phase II, SIDCO Industrial Complex, Bari Brahmna, Jammu,
India |
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Tel. No.: |
91-1923-220123/ 221970/ 222341 |
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Fax No.: |
91-1923-221970 |
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Factory 12: |
Katni 10.4 Mile Stone, NH -7, Village Padua, Katni – 483 442, Madhya
Pradesh, India |
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Tel. No.: |
7622-262317/ 262297/ 297507 |
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Factory 13 : |
Narendrapur 9, Netaji Subhash Chandra Bose Road, P.O. - Narendrapur, Kolkata – 700
103, West Bengal, India |
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Tel. No.: |
91-33-24772324-26/ 24772620/ 24772738/ 24772740/ 32919827/ 28 |
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Fax No.: |
91-33-24772621 |
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Factory 14: |
Newai G 50-59, IID Centre, NH-12, Road No.1, Newai, Tonk – 304 020,
Rajasthan, India |
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Tel. No.: |
91-1438-223342/ 223783 |
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Fax No.: |
91-1438-223010 |
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Factory 15: |
Jalpaiguri Kartowa, P.O. Mahanvita, P.S. Rajganj, Jalpaiguri – 735 135, West
Bengal, India |
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Factory 16: |
Nashik D-55, MIDC, Ambad, Nashik – 422 010, Maharashtra, India |
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Tel. No.: |
91-253-6623222 |
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Fax No.: |
91-253-2383146/ 2383577 |
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Factory 17: |
Unit III Plot No.16, Sector-2, Integrated Industrial
Estate, Pantnagar, District Udham Singh Nagar – 263 146, Uttarakhand, India |
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Tel. No.: |
91-5944-398500 / 9760013990 / 991 / 992 |
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Fax No.: |
91-5944-250064 |
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Factory 18: |
Pantnagar Unit
II Plot No.4, Sector-2, Integrated
Industrial Estate, Pantnagar, Udham Singh Nagar – 263 146,
Uttarakhand, India |
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Tel. No.: |
91-5944-398500 / 9760013990/ 991/ 992 |
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Fax No.: |
91-5944-250064 |
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Factory 19: |
Pithampur 86-A, Kheda Industrial Area, Sector-3, Pithampur, District Dhar – 454
774, Madhya Pradesh, India |
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Tel. No.: |
91-7292-400046 to 51 |
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Fax No.: |
91-7292-400112 |
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Factory 20: |
Sahibabad Unit I and II Plot No.22, Site IV, Sahibabad, Ghaziabad – 201 010, Uttar Pradesh,
India |
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Tel. No.: |
91-120- 3378400 (30 Lines) |
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Fax No.: |
91-120- 2779914/ 4376924 |
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Factory 21: |
Sahibabad Unit III 5/1, Site-IV, Sahibabad Ghaziabad, Uttar Pradesh, India |
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Tel. No.: |
91-120–3001000 |
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Fax No.: |
91-120-2772407 |
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Factory 22: |
Silvassa Unit – I and II Survey No.225/4/1, Village Saily, Silvassa – 396 240, Dadra and Nagar Haveli
(UT of India), India |
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Tel. No.: |
91-260-2681071/ 72/ 73/ 74 |
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Fax No.: |
91-260-2681075 |
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Overseas Factory : |
Rampur Tokni, District Bara,
Birgung, Nepal |
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Tel. No.: |
+97712054533 +97712054534 |
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E-Mail : |
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Shop : |
Industrial Growth Centre (I.G.C.), Near Balipara, Ghoramari, Sonitpur – 784105, Assam, India
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Branch Office : |
Located at :
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DIRECTORS
AS ON 31.03.2017
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Name : |
Mr. Sunil Duggal |
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Designation : |
Whole-time Director |
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Address : |
P-10, Hauz Khas Enclave, New Delhi – 110016, India |
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Date of Appointment : |
31.07.2000 |
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DIN No.: |
00041825 |
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Name : |
Ms. Falguni Sanjay Nayar |
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Designation : |
Director |
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Address : |
Flat No.9, Rushilla, 5th Floor, Carmicheal Road, Mumbai –
400026, Maharashtra, India |
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Date of Appointment : |
28.07.2014 |
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DIN No.: |
00003633 |
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Name : |
Mr. Ravindra Chandra Bhargava |
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Designation : |
Director |
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Address : |
220, Sector – 15A, Noida, Ghaziabad – 201301, Uttar
Pradesh, India |
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Date of Appointment : |
27.01.2005 |
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DIN No.: |
00007620 |
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Name : |
Mr. Pritam Das Narang |
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Designation : |
Whole-time Director |
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Address : |
B-117, Neeti Bagh, New Delhi – 110049, India |
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Date of Appointment : |
01.04.1998 |
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DIN No.: |
00021581 |
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Name : |
Mr. Mohit Burman |
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Designation : |
Director |
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Address : |
43-A, Prithvi Raj Road, New Delhi – 110011, India |
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Date of Appointment : |
23.07.2007 |
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DIN No.: |
00021963 |
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Name : |
Mr. Amit Burman |
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Designation : |
Director |
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Address : |
23 Kautilya Marg, Chanakayapuri, New Delhi – 110021, India |
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Date of Appointment : |
01.11.2001 |
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DIN No.: |
00042050 |
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Name : |
Mr. Pattamadai Natraja Sarma Vijay |
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Designation : |
Director |
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Address : |
80, Sector-15 A, Noida – 201301, Uttar Pradesh, India |
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Date of Appointment : |
15.05.2001 |
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DIN No.: |
00049992 |
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Name : |
Dr. Anand Chand Burman |
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Designation : |
Director |
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Address : |
2, Rajesh Pilot Marg, New Delhi 110011, India |
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Date of Appointment : |
13.10.1986 |
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DIN No.: |
00056216 |
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Name : |
Mr. Subbaraman Narayan |
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Designation : |
Director |
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Address : |
8, Golf Apartments, Sujan Singh Park, New Delhi – 110003, India |
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Date Of Appointment : |
26.07.2005 |
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DIN No.: |
00094081 |
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Name : |
Mr. Sanjay Kumar Bhattacharyya |
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Designation : |
Director |
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Address : |
M-2, Kinnellan Towers, 100A, Napean Sea Road, Mumbai – 400006, Maharashtra, India |
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Date Of Appointment : |
23.07.2012 |
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DIN No.: |
01924770 |
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Name : |
Dr. Ajay Kumar Dua |
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Designation : |
Director |
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Address : |
B-3, Defence Colony, New Delhi – 110024, India |
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Date Of Appointment : |
03.09.2009 |
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DIN No.: |
02318948 |
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Name : |
Mr. Saket Burman |
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Designation : |
Director |
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Address : |
Po Box, Dubai – 117153, AE |
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Date Of Appointment : |
31.01.2012 |
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DIN No.: |
05208674 |
KEY EXECUTIVES
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Name : |
Mr. Ashok Kumar Jain |
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Designation : |
Company Secretary |
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Address : |
A 33, Ashoka Niketan, Vikas Marg, Extension Delhi – 110092,
India |
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Date of Appointment : |
17.08.1999 |
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PAN No.: |
AADPJ6012G |
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Name : |
Mr. Lalit Malik |
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Designation : |
Chief Financial Officer |
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Address : |
201-Vasudev Apartment, Ram Mandir Road, Vile Parle (East),
Mumbai - 400057 Maharashtra, India |
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Date of Appointment : |
29.04.2014 |
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PAN No.: |
AAFPM0541D |
SHAREHOLDING PATTERN
AS ON 31.12.2017
|
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 |
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|
(A) Promoter & Promoter Group |
1198800677 |
68.05 |
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(B) Public |
562719833 |
31.95 |
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Grand Total |
1761520510 |
100.00 |
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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 % |
|
|
A1) Indian |
|||
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Individuals/Hindu undivided Family |
2126995 |
0.12 |
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Ashok Chand Burman(HUF) |
30000 |
0.00 |
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Amit Burman(HUF) |
30000 |
0.00 |
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Pradip Burman (HUF) |
30000 |
0.00 |
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Anand Chand Burman |
660000 |
0.04 |
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|
Vivek Chand Burman |
15000 |
0.00 |
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Gauri Tandon |
677995 |
0.04 |
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Indira Burman |
100000 |
0.01 |
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Pradip Burman |
364000 |
0.02 |
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Shivani Burman |
30000 |
0.00 |
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Chetan Burman |
30000 |
0.00 |
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|
Asha Burman |
154000 |
0.01 |
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Eishana Burman |
6000 |
0.00 |
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Any Other (specify) |
1196328682 |
67.91 |
|
|
Burmans Finvest Private Ltd.(owned by Mrs.
Monica Burman) |
53012986 |
3.01 |
|
|
Chowdry Associates(owned by Mr. Saket Burman) |
217941800 |
12.37 |
|
|
M B Finmart Private ltd.(owned by Mr. Mohit
Burman) |
26526492 |
1.51 |
|
|
Gyan Enterprises Pvt. Ltd.(owned by Mr.
Amit Burman) |
202237980 |
11.48 |
|
|
Milky Investment and Trading Company(owned
by Dr. Anand Burman) |
106147503 |
6.03 |
|
|
Puran Associates Private ltd.(owned by Dr.
Anand Burman) |
189212000 |
10.74 |
|
|
Ratna Commercial Enterprises Pvt.
Ltd.(owned by Mr. Pradip Burman Family Trust) |
156994429 |
8.91 |
|
|
Sahiwal Investment and Trading Company |
15000 |
0.00 |
|
|
VIC Enterprises Private Limited(owned by
Mr. V C Burman) |
217734000 |
12.36 |
|
|
Windy Investments Pvt. Ltd. (owned by Mr.
Gaurav Burman) |
26506492 |
1.50 |
|
|
Sub Total A1 |
1198455677 |
68.04 |
|
|
A2) Foreign |
0.00 |
||
|
Individuals (NonResident Individuals/
Foreign Individuals) |
345000 |
0.02 |
|
|
Monica Burman |
15000 |
0.00 |
|
|
Saket Burman |
300000 |
0.02 |
|
|
Minnie Burman |
30000 |
0.00 |
|
|
Sub Total A2 |
345000 |
0.02 |
|
|
A=A1+A2 |
1198800677 |
68.05 |
Statement showing shareholding pattern of the Public shareholder
|
Category & Name of the Shareholders |
No. of fully paid up equity shares held |
Shareholding % calculated as per SCRR, 1957 As a % |
|
|
B1) Institutions |
|
|
|
|
Mutual Funds/ |
52995366 |
3.01 |
|
|
ADITYA BIRLA SUN LIFE TRUSTEE COMPANY
PRIVATE LIMITED AC BIRLA SUN LIFE BALANCED 95 FUND |
19232577 |
1.09 |
|
|
Foreign Portfolio Investors |
312414036 |
17.74 |
|
|
FIRST STATE INVESTMENTS ICVC-STEWART
INVESTORS ASIA PACIFIC LEADERS FUND |
21822618 |
1.24 |
|
|
MATTHEWS PACIFIC TIGER FUND |
21117482 |
1.20 |
|
|
BARCLAYS MERCHANT BANK(SINGAPORE) LTD. |
21294176 |
1.21 |
|
|
Financial Institutions/ Banks |
14112407 |
0.80 |
|
|
Insurance Companies |
82006522 |
4.66 |
|
|
LIFE INSURANCE CORPORATION OF INDIA |
74899501 |
4.25 |
|
|
Any Other (specify) |
84000 |
0.00 |
|
|
Overseas Corporate Bodies |
84000 |
0.00 |
|
|
Sub Total B1 |
461612331 |
26.21 |
|
|
B2) Central Government/ State
Government(s)/ President of India |
0 |
0.00 |
|
|
B3) Non-Institutions |
0 |
0.00 |
|
|
Individual share capital upto INR 0.200
Million |
62461769 |
3.55 |
|
|
Individual share capital in excess of INR
0.200 Million |
16120962 |
0.92 |
|
|
NBFCs registered with RBI |
123155 |
0.01 |
|
|
Any Other (specify) |
22401616 |
1.27 |
|
|
Trusts |
305179 |
0.02 |
|
|
NRI |
3477790 |
0.20 |
|
|
Clearing Members |
1909538 |
0.11 |
|
|
NRI – Non- Repat |
1820018 |
0.10 |
|
|
Bodies Corporate |
12642656 |
0.72 |
|
|
INVESTOR EDUCATION AND PROTECTION FUND |
2244517 |
0.13 |
|
|
Foreign Individuals |
1918 |
0.00 |
|
|
Sub Total B3 |
101107502 |
5.74 |
|
|
B=B1+B2+B3 |
562719833 |
31.95 |
BUSINESS DETAILS
|
Line of Business : |
The company is one of the FMCG players dealing in consumer care and
food products, it manufactures personal-care, healthcare, and food
products. [Registered
Activity] |
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Products / Services
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Brand Names : |
DABUR |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Divulged |
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PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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|
|
||||||||||||||||||||||||
|
No. of Employees : |
7423 Approximately |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
NOTES:
Notes:
|
|
Auditors : |
|
|
Name : |
G. Basu and Company Chartered Accountants |
|
Address : |
Jebel Ali-UAE |
|
|
|
|
Internal Auditors : |
|
|
|
Price
Waterhouse and Co. LLP Chartered Accountants |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Domestic Wholly
Owned : |
H & B Stores Limited |
|
|
|
|
Foreign Wholly
Owned Subsidiary : |
·
Dermoviva Skin
Essentials Inc, USA ·
Dabur Egypt
Limited, Egypt ·
Dabur (UK)
Limited, UK ·
Dabur International
Limited, UAE ·
African Consumer
Care Limited, Nigeria ·
Naturelle LLC, UAE
·
Dabur Egypt
Trading Limited, Egypt ·
Hobi Kozmetik,
Turkey ·
Ra Pazarlama,
Turkey ·
Namaste
Laboratories LLC, US ·
Hair Rejuvenation and
Revitalization Nigeria Limited, Nigeria ·
Healing Hair Lab
International LLC, USA ·
Urban Lab
International LLC, USA ·
Dabur Lanka
(Private) Limited, Sri Lanka ·
Namaste Cosmeticos
Ltda, Brazil ·
Dabur Consumer
care Private Limited, Sri Lanka · Dabur Tunisie, Tunisia |
|
|
|
|
Foreign Subsidiary : |
· Asian Consumer Care Private Limited, Dhaka · Dabur Nepal Private Limited, Nepal · Asian Consumer Care Pakistan (Private) Limited, Pakistan |
|
|
|
|
Joint Venture / Partnership: |
· Forum 1 Aviation Limited |
|
|
|
|
Other Related Parties (Sharing/
Directors in Common) : |
·
Jetways Travels Private Limited ·
Lite Bite Foods Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2070000000 |
Equity Shares |
INR 1/- each |
INR 2070.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1761520510 |
Equity Shares |
INR 1/- each |
INR 1761.500 Million |
|
|
|
|
|
Reconciliation of the number of
shares
|
Particulars |
As at 31st March, 2017 |
|
|
No. of Shares |
INR in Million |
|
|
Equity Shares: |
|
|
|
Balance as at the beginning of the year |
1759141170 |
1759.100 |
|
Add: Shares issued under ESOP scheme during the year |
1504340 |
1.500 |
|
Add: Bonus shares issued under ESOP scheme during the year |
875000 |
0.900 |
|
Balance as at the
end of the year |
1761520510 |
1761.500 |
Rights,
preference and restrictions attached to Equity Shares
i) The
Company has one class of equity shares having a par value of INR 1 per share.
Each shareholder is eligible for one vote per share held. The dividend proposed
by the Board of Directors is subject to the approval of the shareholders in the
ensuing Annual General Meeting except in the case of interim dividend. In the
event of liquidation, the equity shareholders are eligible to receive the
remaining assets of the company after distribution of all preferential amounts,
in proportion to their shareholding.
ii)
Shares of the company are ordinarily transferable provided:
a.
Instrument
of transfer is in form prescribed under the Act and duly stamped and executed
by/on behalf of transferor and transferee.
b.
Transferee
consenting or replying affirmatively within specified period of his receipt of
notice under Section 56(1) of Companies Act, 2013 issued by the company in
respect of application of transfer of registration of shares made by the
transferor.
c.
Transferee
is not of unsound mind.
Company
does not have any lien on shares under application of transfer
Details of equity shares held by shareholders
holding more than 5% shares of the aggregate shares in the company
|
Particulars |
31.03.2017 |
|
Equity shares of INR 1 held
by: |
|
|
Chowdry Associates |
217941800 |
|
VIC Enterprises Private Limited |
217734000 |
|
Gyan Enterprises Private Limited |
202237980 |
|
Puran Associates Private Limited |
189212000 |
|
Ratna Commercial Enterprises Private Limited |
156731826 |
|
Milky Investment and Trading Company |
106147503 |
Shares allotted as fully paid up
bonus shares during the period of five years immediately preceding the
reporting date
|
Number of equity shares issued in last 5 years as fully
paid up bonus shares (Including shares issued under ESOP scheme part of
consideration not received in cash) |
7906298 |
Shares issued under ESOP scheme
part of consideration not being received in cash
|
Shares issued under ESOP scheme part of
consideration not being received in cash |
11513358 |
Shares reserved for issue under
options
|
Number of equity shares reserved for issue under options contracts
/ commitment for sale for shares |
8798312 |
Term therein:
Options
granted to an employee are subject to cancellation under circumstances of his
cessation of employment with the company on or before vesting date.
FINANCIAL DATA
[all figures are INR
Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1761.500 |
1759.100 |
1756.500 |
|
(b) Reserves & Surplus |
34817.300 |
29183.800 |
23403.900 |
|
(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) |
36578.800 |
30942.900 |
25160.400 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2014.600 |
7.200 |
7.200 |
|
(b) Deferred tax liabilities (Net) |
982.800 |
765.200 |
660.800 |
|
(c) Other long term liabilities |
37.100 |
49.600 |
52.800 |
|
(d) long-term provisions |
475.200 |
450.300 |
427.900 |
|
Total Non-current Liabilities (3) |
3509.700 |
1272.300 |
1148.700 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
830.400 |
865.100 |
1291.300 |
|
(b) Trade payables |
9071.600 |
9313.400 |
7566.400 |
|
(c) Other current liabilities |
1624.200 |
1429.600 |
1381.900 |
|
(d) Short-term provisions |
543.800 |
474.000 |
410.300 |
|
Total Current Liabilities (4) |
12070.000 |
12082.100 |
10649.900 |
|
|
|
|
|
|
TOTAL |
52158.500 |
44297.300 |
36959.000 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
9291.800 |
6217.700 |
6098.200 |
|
(ii) Intangible Assets |
513.500 |
523.400 |
532.400 |
|
(iii) Capital work-in-progress |
282.500 |
249.600 |
122.200 |
|
(iv) Intangible assets under development |
128.000 |
170.400 |
200.900 |
|
(b) Non-current Investments |
23190.300 |
18439.500 |
13831.500 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
908.000 |
355.100 |
271.600 |
|
Total Non-Current Assets |
34314.100 |
25955.700 |
21056.800 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
7351.200 |
6740.200 |
4827.000 |
|
(b) Inventories |
5992.700 |
6155.600 |
5506.000 |
|
(c) Trade receivables |
3332.500 |
4206.900 |
3387.900 |
|
(d) Cash and cash equivalents |
261.600 |
556.300 |
1263.800 |
|
(e) Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f) Other current assets |
906.400 |
682.600 |
917.500 |
|
Total Current Assets |
17844.400 |
18341.600 |
15902.200 |
|
|
|
|
|
|
TOTAL |
52158.500 |
44297.300 |
36959.000 |
PROFIT
& LOSS ACCOUNT [STANDALONE]
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
Income |
53698.400 |
54225.700 |
54312.800 |
|
|
|
Other Income |
2746.400 |
1943.600 |
1378.500 |
|
|
|
TOTAL |
56444.800 |
56169.300 |
55691.300 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
Cost of Materials Consumed |
19223.700 |
19302.800 |
19210.900 |
|
|
|
Purchases of Stock-in-Trade |
9446.000 |
9520.500 |
9372.500 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
Stock-in-Trade |
(81.900) |
(237.700) |
(322.500) |
|
|
|
Employees benefits expense |
4253.000 |
4318.900 |
3929.900 |
|
|
|
Other expenses |
9743.900 |
10340.400 |
12737.000 |
|
|
|
Exceptional Item |
0.000 |
0.000 |
239.600 |
|
|
|
TOTAL |
42584.700 |
43244.900 |
45167.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST,
TAX, DEPRECIATION AND AMORTISATION |
13860.100 |
12924.400 |
10523.900 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
162.300 |
102.600 |
98.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
13697.800 |
12821.800 |
10425.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
754.300 |
728.300 |
659.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
12943.500 |
12093.500 |
9765.300 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2960.200 |
2720.900 |
2139.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
9983.300 |
9372.600 |
7625.800 |
|
|
|
|
|
|
|
|
|
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD |
19652.000 |
15970.500 |
13350.200 |
|
|
|
|
|
|
|
|
|
|
Transfer from General Reserve |
NA |
1.000 |
5.300 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
950.000 |
800.000 |
|
|
|
Transitional adjustment
on account of depreciation |
NA |
0.000 |
36.800 |
|
|
|
Bonus shares |
NA |
1.000 |
5.300 |
|
|
|
Interim
Dividend |
NA |
2198.800 |
2195.500 |
|
|
|
Proposed
Final Dividend |
NA |
1759.100 |
1317.400 |
|
|
|
Corporate Tax on Final Dividend |
NA |
358.100 |
268.200 |
|
|
|
Corporate Tax on Interim Dividend |
NA |
447.600 |
373.100 |
|
|
|
Dividend
adjustments of earlier years |
NA |
0.000 |
12.500 |
|
|
|
Dividend tax
adjustment of earlier years |
NA |
0.000 |
2.100 |
|
|
|
Total |
NA |
5714.600 |
5010.900 |
|
|
|
|
|
|
|
|
|
|
Balance Carried to the B/S |
NA |
19652.000 |
15970.400 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN CURRENCY |
|
|
|
|
|
|
F.O.B. Value of Exports |
NA |
1882.000 |
1999.200 |
|
|
|
TOTAL EARNINGS |
NA |
1882.000 |
1999.200 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
Raw Materials |
NA |
388.800 |
264.000 |
|
|
|
Stores and Spares
(including packing material) |
NA |
3.800 |
22.500 |
|
|
|
Finished Goods |
NA |
1029.600 |
376.600 |
|
|
|
Capital Goods |
NA |
61.300 |
66.700 |
|
|
|
TOTAL IMPORTS |
NA |
1483.500 |
729.800 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share (INR) |
|
|||
|
|
Basic Diluted |
5.67 |
5.33 |
4.35 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
12014.400 |
12210.300 |
10432.900 |
|
Net cash flow from operating activity |
9269.400 |
9603.000 |
8392.000 |
QUARTERLY
RESULTS
|
Particulars |
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
31.12.2017 (Unaudited) |
|
|
1st Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
12337.400 |
14163.900 |
14493.100 |
|
Total Expenditure |
10441.300 |
10976.000 |
11394.300 |
|
PBIDT (Excl OI) |
1896.100 |
3187.900 |
3098.800 |
|
Other Income |
755.800 |
762.300 |
605.800 |
|
Operating Profit |
2651.900 |
3950.200 |
3704.600 |
|
Interest |
57.700 |
49.800 |
52.200 |
|
Exceptional Items |
(145.400) |
NA |
NA |
|
PBDT |
2448.800 |
3900.400 |
3900.400 |
|
Depreciation |
245.100 |
255.100 |
261.500 |
|
Profit Before Tax |
2203.7000 |
3645.300 |
3390.900 |
|
Tax |
507.800 |
811.200 |
736.200 |
|
Provisions and
contingencies |
NA |
NA |
NA |
|
Profit After Tax |
1695.900 |
2834.100 |
2654.700 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
1695.900 |
2834.100 |
2654.700 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average
Collection Days (Sundry Debtors / Income * 365 Days) |
22.65 |
28.32 |
22.77 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
16.11 |
12.89 |
16.03 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
115.49 |
117.94 |
96.62 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
2.31 |
2.10 |
1.91 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
1.36 |
1.80 |
1.51 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets) |
0.27 |
0.27 |
0.29 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.08 |
0.03 |
0.05 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.33 |
0.39 |
0.42 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.28 |
0.23 |
0.28 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
85.40 |
125.97 |
106.41 |
PROFITABILITY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
|
|
PAT to Sales [(PAT/Sales) * 100) |
% |
18.59 |
17.28 |
14.04 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets) * 100] |
% |
19.14 |
21.16 |
20.63 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth) * 100] |
% |
27.29 |
30.29 |
30.31 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.48 |
1.52 |
1.49 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.98 |
1.01 |
0.98 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.70 |
0.70 |
0.68 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
1.62 |
0.50 |
0.74 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.48 |
1.52 |
1.49 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 1.00/- |
|
Market Value |
INR 321.40/- |
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT
EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
1756.500 |
1759.100 |
1761.500 |
|
Reserves & Surplus |
23403.900 |
29183.800 |
34817.300 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
25160.400 |
30942.900 |
36578.800 |
|
|
|
|
|
|
Long Term borrowings |
7.200 |
7.200 |
2014.600 |
|
Short Term borrowings |
1291.300 |
865.100 |
830.400 |
|
Total borrowings |
1298.500 |
872.300 |
2845.000 |
|
Debt/Equity ratio |
0.052 |
0.028 |
0.078 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
54312.800 |
54225.700 |
53698.400 |
|
|
|
(0.160) |
(0.972) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
54312.800 |
54225.700 |
53698.400 |
|
Profit |
7625.800 |
9372.600 |
9983.300 |
|
|
14.04% |
17.28% |
18.59% |
LEGAL
CASE
|
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
|
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
1761.500 |
1759.100 |
|
(b) Reserves & Surplus |
|
46712.400 |
39947.000 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
(3) Non-Controlling Interest |
|
247.700 |
217.100 |
|
Total Shareholders’ Funds (1) + (2) |
|
48721.600 |
41923.200 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
4712.100 |
3424.200 |
|
(b) Deferred tax liabilities (Net) |
|
1080.400 |
882.400 |
|
(c) Other long term liabilities |
|
37.100 |
49.600 |
|
(d) long-term provisions |
|
534.000 |
508.800 |
|
Total Non-current Liabilities (3) |
|
6363.600 |
4865.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
4403.300 |
4497.400 |
|
(b) Trade payables |
|
13026.700 |
13301.200 |
|
(c) Other current liabilities |
|
3876.300 |
3830.800 |
|
(d) Short-term provisions |
|
918.900 |
905.400 |
|
Total Current Liabilities (4) |
|
22225.200 |
22534.800 |
|
|
|
|
|
|
TOTAL |
|
77310.400 |
69323.000 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
14790.200 |
12387.700 |
|
(ii) Intangible Assets |
|
4243.900 |
0.000 |
|
(iii) Capital work-in-progress |
|
421.000 |
4286.300 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
25544.000 |
19415.100 |
|
(c) Deferred tax assets (net) |
|
0.000 |
448.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
1146.600 |
629.300 |
|
Total Non-Current Assets |
|
46145.700 |
37166.400 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
7407.500 |
7492.300 |
|
(b) Inventories |
|
11067.100 |
10965.000 |
|
(c) Trade receivables |
|
6504.200 |
8092.000 |
|
(d) Cash and cash equivalents |
|
3048.100 |
2198.200 |
|
(e) Short-term loans and advances |
|
0.000 |
0.000 |
|
(f) Other current assets |
|
3137.800 |
3409.100 |
|
Total Current Assets |
|
31164.700 |
32156.600 |
|
|
|
|
|
|
TOTAL |
|
77310.400 |
69323.000 |
PROFIT
& LOSS ACCOUNT [CONSOLIDATED]
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
77014.400 |
78687.700 |
|
|
Other Income |
|
2983.500 |
2171.900 |
|
|
TOTAL |
|
79997.900 |
80859.600 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
31126.100 |
29478.800 |
|
|
Purchases of Stock-in-Trade |
|
7536.300 |
9722.100 |
|
|
Changes in inventories of finished goods, work-in-progress and
Stock-in-Trade |
|
(230.200) |
(705.300) |
|
|
Employees benefits expense |
|
7896.100 |
7941.000 |
|
|
Other expenses |
|
15596.700 |
17068.300 |
|
|
TOTAL |
|
61925.000 |
63504.900 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST,
TAX, DEPRECIATION AND AMORTISATION |
|
18072.900 |
17354.700 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
540.300 |
484.800 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
17532.600 |
16869.900 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
|
1428.600 |
1331.900 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
16104.000 |
15538.000 |
|
|
|
|
|
|
|
Less |
TAX |
|
3303.400 |
2999.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
|
12800.600 |
12539.000 |
|
|
|
|
|
|
|
|
Share of Profit/Loss of associates And Joint
Venture |
|
2.500 |
(0.100) |
|
|
|
|
|
|
|
|
Non-Controlling Interest |
|
33.700 |
27.400 |
|
|
|
|
|
|
|
|
Profit after
Non-controlling Interest and Share of
Profit/Loss of associates And Joint Venture |
|
12764.400 |
12511.500 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share (INR) |
|
|
|
|
|
- Basic |
|
7.25 |
7.12 |
|
|
- Diluted |
|
7.21 |
7.07 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by info agents |
Available in Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners / Directors |
No |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the Annual Report |
No |
COMPANY INFORMATION
Dabur India Limited (the ‘Company’) is a domestic public limited Company with registered office situated at 8/3, Asaf Ali Road, New Delhi – 110002 and is listed on the Bombay Stock Exchange Limited (BSE), National Stock Exchange of India (NSE) and Metropolitan Stock Exchange of India Limited (MSEI). The company is one of the leading FMCG players dealing in consumer care and food products. It has manufacturing facilities across the length and breadth of the country and Research and Developments Centre in U. P. (Sahibabad), selling arrangements being primarily in India through independent distributors. However, most of the institutional sales are handled directly by the company.
.
PERFORMANCE OVERVIEW
The overall business environment remained challenging with consumer demand being slack in India followed by the slowdown post demonetization. The Company also faced headwinds in its overseas geographies like Middle East and Africa, which were hit by worsening geopolitical situation, economic slowdown and currency devaluation in key markets like Egypt, Turkey and Nigeria. At Dabur, we have been pursuing a prudent growth strategy and have taken steps to effectively manage the emerging risks and challenges. We are moving forward steadily with our focused strategy, positioning Dabur as the ‘Science-based Ayurveda’ specialist, and aggressively launching new products leveraging the Ayurveda heritage and cutting edge science. The year 2016-17 saw Dabur move ahead on the road to contemporizing Ayurveda and promote the science and principles of Ayurveda among modern-day consumers. Strengthening its presence in the Ayurveda and Natural Health Care products market in India, Dabur launched Honitus Hot Sip, an Ayurvedic kadha (cough and cold remedy). Honitus Hot Sip is a mix of 15 Ayurvedic herbs that have been used to provide relief from cold and cough, since ages. The Honitus cough syrup was also introduced in a mixed fruit flavored variant. The Company also introduced India’s first Ayurvedic Gel toothpaste under the Dabur Red Paste brand. Dabur announced the launch of Madhurakshak Activ, an advanced product for effective management of Diabetes. The product, developed by Ministry of AYUSH, is backed by several clinical studies to bring forth the most advanced formulation combining traditional Ayurveda with cutting-edge science. Continuing the initiative to introduce innovative products, the company launched a range of Honey Fruit Spreads in four exotic fruit variants Strawberry, Plum, Exotic Berries and Kiwi. These spreads contain honey & real fruits. Dabur also launched two new variants in Honey, Honey-Ginger and Honey-Tulsi, a mixture of Honey with Ginger and Tulsi, which have traditionally been used for cough relief.
18
OUTLOOK
UTLOOK
The FMCG industry in India has been under some
stress post demonetization and due to increased compliance requirements from
the government. Moreover, GST implementation is likely to have some temporary
impact due to probable down stocking in the trade channels and likely
conversion from unorganized to organize. While there may be some near-term
pressures and challenges due to these changes in the regulatory environment,
overall consumer demand is resilient and the consumer industry is expected to
grow at a good pace in the medium to long term. Secular trends based on rising
incomes, aspirations, and low penetration and consumption levels and changing
lifestyle, are positive for the FMCG sector.
Company, with its brands, infrastructure, capabilities and management
depth is well placed to leverage this opportunity. The Company has a strong
product pipeline and has also been investing in various communication and
distribution initiatives to create and efficiently service demand for our
products. Implementation of GST in India is positive for the FMCG sector as it
will enable a unified tax structure, easier movement of goods across the
country and streamlining of tax structure across categories.
This, coupled with other government initiatives to
increase tax compliance, will marginalize unorganized players and lead to
consolidation of organized players in the sector. This conversion from
unorganized to organize is likely to provide additional avenues for growth to
the company. In the International markets, the slowdown in Middle East due to
low crude prices has led to some shrinkage in our sales. This is likely to be
mitigated by opening newer markets such as Iran and by expanding our portfolio.
Adverse currency movements in some markets like Egypt, Nigeria and Turkey have
impacted our consolidated sales growth although these markets have grown well
in local currency terms. The impact is likely to continue for the first half of
fiscal 2017-18 till the
Currency depreciation comes into the base. Outlook
for African markets is positive in view of setting up localized manufacturing
units in three regions — West, North and South Africa. East Africa will be
serviced from the Egypt manufacturing unit. SAARC region has been stable and
performed well. The outlook for this region remains positive for the next
fiscal.
D
IN INTEGRATED
REPORTING AND MANAGEMENT DISCUSSION & ANALYSIS
Limited
The year 2016-17 started on a positive note with India emerging as the fastest growing major economy in the world. The International Monetary Fund (IMF), in its Regional Economic Outlook for Asia and the Pacific at the beginning of the year, retained its growth forecast for India at 7.5%, largely driven by private consumption even as weak exports and sluggish credit growth weighed on the economy.
The above-normal monsoon in 2016 after three successive years of deficient rainfall, retail inflation falling to a six-month low and factory output Improving after a quarter of decline brought hope of a recovery in demand and consumption.
The Indian Economy seemed set to revive and consumer spending seemed poised to make a strong comeback. The favorable tailwinds notwithstanding, consumer sentiments remained low for most part of the first half of the financial year 2016-17. Consumption started to witness an uptrend with the festive season in the third quarter of the fiscal. However, this positive trend was interrupted as the government announced demonetization of high value bank notes on 8th November 2016 to curtail the shadow economy and crack down on the use of illicit and counterfeit Cash to fund illegal activity and terrorism. The cancellation of 86% of the currency in circulation led to acute liquidity squeeze in the economy which resulted in a severe impact on consumption and trade, pushing demand into a downward spiral. The sudden nature of the announcement-and the prolonged cash shortages in the weeks that followed - created significant disruption throughout the economy for over three months.
Though IMF categorized the slowdown as temporary, its latest World Economic Outlook pointed out that India’s growth slowed to 6.6% in 2016-17, down from 7.6% a year earlier. The one percentage point cut, the one percentage point cut, The CSO also revised its GDP growth estimates downwards to 7.1% in the 2016-17 fiscal year, compared to 7.6% a year earlier. The estimates were reduced in all the sectors, except for agriculture which has improved due to the positive monsoon.
Despite the slowdown in last few quarters, long term growth story of India remains robust and this was manifested by the fact that India’s net Foreign Direct Investment (FDI) flows reached a record high of $46 billion in 2016 from $39 billion in 2015. While government’s steady liberalization measures (FDI norms relaxed) coupled with the Ongoing push to ease bureaucratic hurdles (e.g. dismantling FIPB) and the structural reforms agenda (e.g. Goods & Service Tax in 2017) have helped FDI flows at the outset, a revival in aggregate demand and a supportive global trade environment will be essential for sustaining the momentum.
There were some big positives in India too that would lay the foundation for future growth The biggest among them being the growing consensus between all parties to roll out the combined Goods & Services Tax (GST). With the Constitution Amendment Bill for Goods and Services Tax being approved by the President of India post its passage in the Parliament, India moved a step closer to creating a unified taxation structure. GST is bound to usher in efficiencies in the system via ease of doing business (one tax rate subsuming all other taxes), thereby leading to an improved business environment. It will help curtail the cascading effect of multiple taxes and enable faster movement of goods across the country.
fFMCG
SECTOR
The Fast Moving Consumer Goods (FMCG) sector is the fourth largest sector in India and provides employment to around three million people, accounting for approximately 5% of the total factory employment in the country. After remaining somewhat resilient to the overall economic turbulence for nearly two years, the FMCG sector faced severe demand headwinds in 2016-17. Despite softening of Inflation and announcement of the new Pay Commission report a year earlier, offering substantial wage hikes for millions of government employees, household consumption of fast-moving consumer goods slipped. With rural India still smarting under the impact of three years of deficient monsoons, rural consumption also stayed muted during 2016-17.
UNSECURED LOANS:
|
Unsecured Loan |
31.03.2017 INR
In Million |
31.03.2016 INR
In Million |
|
LONG-TERM
BORROWINGS |
|
|
|
Long term maturities of finance lease obligations |
7.100 |
7.200 |
|
|
|
|
|
SHORT-TERM
BORROWINGS |
|
|
|
Packaging Credit Loan from Bank |
648.500 |
662.500 |
|
Bank Overdraft |
91.200 |
125.800 |
|
Total |
716.800 |
795.500 |
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G46698726 |
100105008 |
The Hongkong and Shanghai Banking Corporation Limited |
06/06/2017 |
- |
- |
250000000.0 |
25, Barakhamba Road, New Delhi-110001, India |
|
2 |
G30018782 |
100066225 |
Citi Bank N.A. |
23/11/2016 |
- |
- |
830000000.0 |
124, Jeevan Bharti Building, 4th Floor, Connaught Circus New Delhi-110001, India |
|
3 |
G12960944 |
100052067 |
The Hongkong and Shanghai Banking Corporation Limited |
23/09/2016 |
- |
- |
1000000000.0 |
25, Barakhamba RoadNEW DELHIDELHIDL110001IN |
|
4 |
G08672453 |
100042258 |
KOTAK SECURITIES LIMITED |
11/07/2016 |
- |
- |
11000000.0 |
27 BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX,BANDRA (E)MUMBAIMa400051IN |
|
5 |
G37623345 |
10036700 |
PUNJAB NATIONAL BANK |
29/01/2007 |
13/02/2017 |
- |
1575000000.0 |
NSIC BHAWANOKHLA INDUSTRIAL ESTATENEW DELHIDL110020IN |
|
6 |
G40005886 |
100024954 |
KOTAK SECURITIES LIMITED |
18/03/2016 |
- |
20/03/2017 |
5000000.0 |
27 BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX,BANDRA (E)MUMBAIMa400051IN |
|
7 |
G08667669 |
10583801 |
KOTAK SECURITIES LIMITED |
10/07/2015 |
- |
11/07/2016 |
5000000.0 |
27 BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX,BANDRA (E)MUMBAIMH400051IN |
|
8 |
G02868354 |
10560147 |
KOTAK SECURITIES LIMITED |
19/03/2015 |
- |
23/03/2016 |
9900000.0 |
27 BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX,BANDRA (E)MUMBAIMH400051IN |
|
9 |
C74980491 |
10560139 |
KOTAK SECURITIES LIMITED |
27/11/2014 |
17/06/2015 |
16/12/2015 |
4900000.0 |
27 BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX,BANDRA (E)MUMBAIMH400051IN |
|
10 |
C04630885 |
10044112 |
GENERAL MANAGER |
26/03/2007 |
- |
21/05/2014 |
3000000.0 |
DISTT INDUSTRIES CENTRESOLAN, DIST-SOLANSOLANHP173213IN |
|
Particulars |
3 Months
Ended |
9 Months Ended |
||
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
||
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
|
|
Income |
|
|
|
|
|
Revenue from operations |
14493.100 |
14163.900 |
40994.400 |
|
|
Other income |
605.800 |
762.300 |
2123.900 |
|
|
Total Income from Operations (net) |
15098.900 |
14926.200 |
43118.300 |
|
|
|
|
|
|
|
|
Expenses |
|
|
|
|
|
Cost of Materials Consumed |
5363.900 |
4662.500 |
14851.800 |
|
|
Purchases of Stock-in-Trade |
2734.700 |
1971.200 |
7008.900 |
|
|
Changes in inventories of
finished goods, work-in-progress
and traded goods |
(759.000) |
744.700 |
(407.600) |
|
|
Employee benefits expense |
1229.000 |
1172.600 |
3593.600 |
|
|
Finance Cost |
52.200 |
49.800 |
159.700 |
|
|
Depreciation and amortisation expense |
261.500 |
255.100 |
761.700 |
|
|
Other expenses |
|
|
|
|
|
Advertisement and publicity |
1468.300 |
1146.900 |
3802.400 |
|
|
Others |
1357.400 |
1278.100 |
3962.500 |
|
|
Total Expenses |
11708.000 |
11280.900 |
33733.000 |
|
|
Profit before exceptional items and tax |
3390.900 |
3645.300 |
9385.300 |
|
|
Exceptional item |
- |
- |
- |
|
|
Profit before tax |
3390.900 |
3645.300 |
9239.900 |
|
|
Tax expense |
|
|
|
|
a) Current Tax |
706.200 |
781.200 |
1965.200 |
|
|
b) Deferred Tax |
30.000 |
30.000 |
90.000 |
|
|
|
Income Tax expense |
736.200 |
811.200 |
2055.200 |
|
|
Net Profit/(Loss) for the period |
3390.900 |
3645.300 |
9239.900 |
|
|
|
|
|
|
|
|
Other Comprehensive Income |
|
|
|
|
Item's that wil! not be reclassified to profit or loss |
(4.900) |
(18.000) |
(14.500) |
|
|
Income tax relating to items that will not be reclassified to profit or
loss |
1.000 |
3.900 |
3.100 |
|
|
Items that will be rectasssified to profit or loss |
(326.400) |
(159.600) |
(343.600) |
|
|
|
Income tax relating to items that will be reclasssified to profit or
loss |
75.300 |
36.900 |
79.300 |
|
|
Total Other Comprehensive Income for the period |
2399.700 |
2697.300 |
6909.000 |
|
|
Paid – up Equity Share
Capital (Face Value INR 1) |
1761.500 |
1761.500 |
1761.500 |
|
|
Earning Per Share for the
Period of INR 1/- each |
|
|
|
|
Basic |
1.51 |
1.61 |
4.08 |
|
|
Diluted |
1.50 |
1.60 |
4.06 |
|
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Claims against the company not
acknowledged as debts: |
|
|
|
1. Claims disputed by the company |
77.700 |
77.700 |
|
2. Claims by employees |
11.400 |
10.000 |
|
3. Excise duty/service tax matters |
1094.700 |
939.300 |
|
4. Sales tax matters |
820.600 |
352.300 |
|
5. Income tax matters |
0.500 |
4.000 |
|
6. Demand for stamp duty |
153.000 |
153.000 |
|
Total |
2157.900 |
1536.300 |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Computer
·
Vehicles
·
Office Equipment
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 65.10 |
|
|
1 |
INR 79.59 |
|
Euro |
1 |
INR 90.45 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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.