|
|
|
MIRA INFORM REPORT
|
Report No. : |
498261 |
|
Report Date : |
19.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
PROCTER AND GAMBLE HYGIENE AND HEALTH CARE LIMITED |
|
|
|
|
Registered
Office : |
P&G Plaza, Cardinal Gracias Road, Chakala, Andheri (East), Mumbai
– 400099, Maharashtra |
|
Tel. No.: |
91-22-28266000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
30.06.2016 |
|
|
|
|
Date of
Incorporation : |
20.07.1964 |
|
|
|
|
Com. Reg. No.: |
11-012971 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 324.600 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24239MH1964PLC012971 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0388038594 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP6332M |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
The Company is engaged in manufacturing and selling of branded packaged fast moving consumer goods in the femcare and healthcare businesses. (Registered Activity) |
|
|
|
|
No. of Employees
: |
362 (Approximately) |
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++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
Maximum Credit Limit : |
USD 15032000 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Procter and Gamble Hygiene and Health Care Limited the company is a
public company incorporated under the provisions of the companies Act, 1956.
Subject is part of “Procter and Gamble”, and its ultimate holding is “The
Procter and Gamble Company” USA. Procter and Gamble USA is ranked 36th amongst the list of Fortune 500
company list in the year, 2017. In accordance with its Indian operations, for financial year ended
2017, the company has reported revenue growth of 3% as compared to its
previous year and it has maintained strong profitability margins. Rating takes into consideration on company’s strong operational
profile supported by adequate financial base along with debt free operations. Rating also takes into consideration strong financial and managerial
support that company receives from its ultimate holding company backed by its
well experienced management team. Further as per quarterly result till December 2017, the company has
clocked a revenue of INR 104160.000 Million. Trade relations are reported to be trustworth. Payments seems to be
regular and as per commitment. In view of being a part of P&G group of company backed by its well
experienced management team, the company can be considered good for normal
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 19.03.2018
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.: 91-28266000)
(Mobile No.: 91-9845522221 - Ringing)
LOCATIONS
|
Registered Office : |
P&G Plaza, Cardinal Gracias Road, Chakala, Andheri (East), Mumbai
– 400099, Maharashtra, India |
|
Tel. No.: |
91-22-28266000 |
|
Fax No.: |
91-22-28267303 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
173, 314, 315, Kundaim Industrial Estate, Kundaim, Goa –
403115, India |
|
|
|
|
Factory 2 : |
Plot 2, GDDIDC Honda, Bhuipal, Sattari, Goa – 403506,
India |
|
|
|
|
Factory 3 : |
Khasara. No. 1808-09, Village-Doria, Export Park, Thana,
Near Indo Farm, PO. Baddi, Tehsil: Nalagarh, District Solan – 173205,
Himachal Pradesh, India |
|
|
|
|
Factory 4 : |
Village Katha, Near Charak Pharma, PO. Baddi, Tehsil:
Nalagarh, District Solan – 173205, Himachal Pradesh, India |
|
|
|
|
Branch Office : |
Vasudha and Company, Banur Thepla Road, Thepla Village, Tehsil:
Rajpura, Patiala – 140417 Punjab |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Al Abdulmalek Rajwani |
|
Designation : |
Managing Director |
|
Address : |
P.O. Box 7167, Apartment 310, Grand Hyatt Residence, Dubai - 000000000000, United Arab Emirates |
|
Date of Appointment : |
28.08.2015 |
|
DIN No.: |
07251300 |
|
|
|
|
Name : |
Mr. Rajendra Ambalal Shah |
|
Designation : |
Director |
|
Address : |
Panorama, 2nd Floor, 203, Walkeshwar Road, Mumbai - 400006, Maharashtra, India |
|
Date of Appointment : |
20.07.1964 |
|
DIN No.: |
00009851 |
|
|
|
|
Name : |
Mr. Bansidhar Sunderlal Mehta |
|
Designation : |
Director |
|
Address : |
5th Floor, Maheshwari Mansion, 34-Napean Sea Road, Mumbai - 400006, Maharashtra, India |
|
Date of Appointment : |
11.10.1979 |
|
DIN No.: |
00035019 |
|
|
|
|
Name : |
Mr. Pramod Agarwal |
|
Designation : |
Director |
|
Address : |
61, Grange Road, 13-04 Beverly Hill, Singapore - 249570, Singapore |
|
Date of Appointment : |
08.05.2015 |
|
DIN No.: |
00066989 |
|
|
|
|
Name : |
Mr. Anil Kumar Ishwar Dayal Gupta |
|
Designation : |
Director |
|
Address : |
501 B, Siddhi Vinayak Building, Opposite Turner Road, Bandra (West), Mumbai - 400050, Maharashtra, India |
|
Date of Appointment : |
18.01.2013 |
|
DIN No.: |
02588131 |
|
|
|
|
Name : |
Mr. Karthik Natarajan |
|
Designation : |
Director |
|
Address : |
Flat No. 1001 / 1002, Hi Con Heights, 24th Road, Bandra (West), Mumbai - 400050, Maharashtra, India |
|
Date of Appointment : |
01.10.2014 |
|
DIN No.: |
06685891 |
|
|
|
|
Name : |
Ms. Sonali Dhawan |
|
Designation : |
Director |
|
Address : |
B-9, 6th Floor, Abhijit, Kapol CHS, 11th Road, JVPD Scheme, Juhu, Mumbai - 400049, Maharashtra, India |
|
Date of Appointment : |
07.05.2014 |
|
DIN No.: |
06808527 |
|
|
|
|
Name : |
Mr. Shailyamanyu Singh Rathore |
|
Designation : |
Director |
|
Address : |
157B Tamarind Road, # 03-07, Serenity Park, Singapore - 806106, Singapore, 806106, Singapore |
|
Date of Appointment : |
15.03.2014 |
|
DIN No.: |
06832523 |
KEY EXECUTIVES
|
Name : |
Mr. Prashant Bhatnagar |
|
Designation : |
Chief Financial Officer |
|
Address : |
91-92, Tower 3, Link Garden Society, Off New Link Road, Andheri
(West), Mumbai - 400099, Maharashtra, India |
|
Date of Appointment : |
01.10.2014 |
|
PAN No.: |
AAHPB5074G |
|
|
|
|
Name : |
Mr. Ishan Sonthalia |
|
Designation : |
Company Secretary |
|
Address : |
304 F Wing, Akruti Orchid Park, Mohili Village, Andheri Kurla Road, Sakinaka Mumbai – 400072, Maharashtra, India |
|
Date of Appointment : |
05.05.2017 |
|
PAN No.: |
BLLPS8140Q |
MAJOR SHAREHOLDERS / 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 |
|
|
(A) Promoter and Promoter
Group |
22929773 |
70.64 |
|
|
(B) Public |
9530963 |
29.36 |
|
|
Grand
Total |
32460736 |
100.00 |
Statement showing
shareholding pattern of the Promoter and Promoter Group
|
Category of
shareholder |
No. of fully
paid up equity shares held |
Shareholding as a
% of total no. of shares (calculated as per SCRR, 1957)As a % of |
|
|
A1) Indian |
0.00 |
||
|
Any Other (specify) |
619683 |
1.91 |
|
|
Temple Trees Impex and
Investment Private Limited |
619683 |
1.91 |
|
|
Sub Total A1 |
619683 |
1.91 |
|
|
A2) Foreign |
0.00 |
||
|
Any Other (specify) |
22310090 |
68.73 |
|
|
Procter and Gamble
Overseas India B.V. |
22310090 |
68.73 |
|
|
Sub Total A2 |
22310090 |
68.73 |
|
|
A=A1+A2 |
22929773 |
70.64 |
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 % of |
|
|
B1) Institutions |
0 |
0.00 |
|
|
Mutual Funds/ |
1759838 |
5.42 |
|
|
SBI Mutual Fund |
823609 |
2.54 |
|
|
Foreign Portfolio
Investors |
1219748 |
3.76 |
|
|
Financial Institutions/
Banks |
533584 |
1.64 |
|
|
Life Insurance
Corporation of India |
521378 |
1.61 |
|
|
Insurance Companies |
823104 |
2.54 |
|
|
General Insurance
Corporation of India |
517195 |
1.59 |
|
|
Any Other (specify) |
39880 |
0.12 |
|
|
Foreign Financial
Institution |
37180 |
0.11 |
|
|
Foreign Bank |
29 |
0.00 |
|
|
UTI |
2671 |
0.01 |
|
|
Sub Total B1 |
4376154 |
13.48 |
|
|
B2) Central Government/
State Government(s)/ President of India |
0 |
0.00 |
|
|
Central Government/ State
Government(s)/ President of India |
8408 |
0.03 |
|
|
Sub Total B2 |
8408 |
0.03 |
|
|
B3) Non-Institutions |
0 |
0.00 |
|
|
Individual share capital
upto INR 0.200 Million |
3609983 |
11.12 |
|
|
Individual share capital
in excess of INR 0.200 Million |
202940 |
0.63 |
|
|
Any Other (specify) |
1333478 |
4.11 |
|
|
Trusts |
636 |
0.00 |
|
|
Foreign Individuals |
430 |
0.00 |
|
|
HUF |
88677 |
0.27 |
|
|
NRI – Non- Repat |
123656 |
0.38 |
|
|
Director or Director's
Relatives |
17326 |
0.05 |
|
|
NRI – Repat |
24141 |
0.07 |
|
|
Clearing Members |
22333 |
0.07 |
|
|
Bodies Corporate |
1056279 |
3.25 |
|
|
Sub Total B3 |
5146401 |
15.85 |
|
|
B=B1+B2+B3 |
9530963 |
29.36 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in manufacturing and selling of branded packaged fast moving consumer goods in the femcare and healthcare businesses. (Registered Activity) |
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Products/ Services : |
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Brand Names : |
|
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|
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|
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|
Agencies Held : |
Not Available |
||||||
|
|
|
||||||
|
Exports : |
Not Divulged |
||||||
|
|
|
||||||
|
Imports : |
Not Divulged |
||||||
|
|
|
||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
362 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
|
Statutory Auditor: |
|
|
Name : |
Deloitte Haskins and Sells LLP Chartered Accountants |
|
Address : |
Indiabulls Finance Centre, Tower 3, 27th – 32nd
Floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai – 400013,
Maharashtra, India |
|
Tel. No.: |
91-22-61854000 |
|
Fax No.: |
91-22-61854501/ 40601 |
|
|
|
|
Cost Auditor: |
|
|
Name : |
Ashwin Solanki and Associates Cost Accountants |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding
Company : |
Note: Procter and Gamble Asia Holding B.V., The
Netherlands has been merged into Procter and Gamble Overseas India BV, The
Netherlands with effect from March 31, 2017. |
|
|
|
|
Ultimate
Holding Company : |
The Procter and Gamble Company, USA |
|
|
|
|
Fellow Subsidiaries : |
|
|
|
|
|
The Group Companies
of The Procter and Gamble Company USA include, among others : |
|
CAPITAL STRUCTURE
As on 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35000000 |
Equity Shares |
INR 10/- each |
INR 350.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
32460736 |
Equity Shares |
INR 10/- each |
INR 324.600
Million |
|
|
|
|
|
Fully
paid equity shares
|
PARTICLUARS |
Number
of shares |
Share
Capital INR
in Million |
|
Balance
at July 1, 2015 |
32460736 |
324.600 |
|
Movements |
-- |
-- |
|
Balance
at June 30, 2016 |
32460736 |
324.600 |
|
Movements |
-- |
-- |
|
Balance
at June 30, 2017 |
32460736 |
324.600 |
The company has only one
class of equity shares having par value of INR 10 per share. Each holder of
equity shares is entitled to one vote per share. The Company declares and pays
dividends in Indian rupees. The dividend proposed by the Board of Directors is
subject to the approval of the shareholders in the ensuing Annual General
Meeting.
In the event of liquidation
of the Company, the holders of equity shares will be entitled to receive
remaining assets
of the Company, after
distribution of all preferential amounts. The distribution will be in
proportion to the number of equity shares held by the shareholders.
Details
of shares held by ultimate holding company/holding company and/or their
subsidiaries/associates
|
PARTICULARS |
As at June 30, 2017 (INR in Million) |
|
Ultimate
Holding Company |
|
|
The
Procter and Gamble Company, USA |
-- |
|
Holding
Company |
|
|
Procter
and Gamble Overseas India BV, The Netherlands # |
223.100 |
|
Procter
and Gamble Asia Holding BV, The Netherlands # |
-- |
|
Subsidiaries
of the Ultimate Holding Company |
|
|
Rosemount
LLC # |
-- |
|
Temple
Trees Impex and Investment Private Limited |
6.200 |
Details
of shareholders holding more than 5% equity shares in the company
|
PARTICULARS |
As
at June 30, 2017 |
|
|
Number
of shares held |
%
holding of equity shares |
|
|
Equity shares of `
10 each fully paid |
|
|
|
Procter
and Gamble Overseas India BV, The Netherlands # |
22310090 |
68.73 |
|
Procter
and Gamble Asia Holding BV, The Netherlands # |
-- |
-- |
# Procter and Gamble Asia
Holding B.V., The Netherlands has been merged into Procter and Gamble Overseas India
BV, The Netherlands with effect from March 31, 2017. Further, promoter
shareholder Rosemount LLC has transferred 1088137 equity shares held in the
Company to Procter and Gamble Overseas India BV, The Netherlands on April 1,
2017.
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
30.06.2017 |
30.06.2016 |
30.06.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
324.600 |
324.600 |
324.600 |
|
(b) Reserves &
Surplus |
4936.600 |
16193.200 |
11962.200 |
|
(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) |
5261.200 |
16517.800 |
12286.800 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
41.700 |
35.700 |
33.300 |
|
Total Non-current
Liabilities (3) |
41.700 |
35.700 |
33.300 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
3631.900 |
3241.300 |
3723.000 |
|
(c) Other current
liabilities |
2624.900 |
1838.300 |
846.500 |
|
(d) Short-term provisions |
41.500 |
31.000 |
2587.200 |
|
Total Current Liabilities
(4) |
6298.300 |
5110.600 |
7156.700 |
|
|
|
|
|
|
TOTAL |
11601.200 |
21664.100 |
19476.800 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2857.100 |
3174.300 |
3087.900 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
408.400 |
347.200 |
389.800 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
262.700 |
89.400 |
39.600 |
|
(d) Income tax assets |
1436.300 |
1069.700 |
0.000 |
|
(e) Long-term Loan and Advances |
509.600 |
567.700 |
2387.900 |
|
(f) Other Non-current
assets |
95.800 |
97.000 |
0.500 |
|
Total Non-Current Assets |
5569.900 |
5345.300 |
5905.700 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1773.500 |
1274.800 |
1190.700 |
|
(c) Trade receivables |
1328.000 |
1496.200 |
1139.400 |
|
(d) Cash and cash
equivalents |
1168.300 |
10731.800 |
6185.800 |
|
(e) Short-term loans and
advances |
976.000 |
2058.600 |
4511.600 |
|
(f) Other current assets |
785.500 |
757.400 |
543.600 |
|
Total Current Assets |
6031.300 |
16318.800 |
13571.100 |
|
|
|
|
|
|
TOTAL |
11601.200 |
21664.100 |
19476.800 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
30.06.2017 |
30.06.2016 |
30.06.2015 |
|
|
SALES |
|
|
|
|
|
Income |
23204.000 |
22753.900 |
23337.900 |
|
|
Other Income |
773.000 |
876.100 |
746.400 |
|
|
TOTAL |
23977.000 |
23630.000 |
24084.300 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of raw and packing
materials consumed |
6125.200 |
5619.800 |
5788.600 |
|
|
Purchases of stock-in-trade
(Traded Goods) |
3535.600 |
3335.000 |
3433.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(511.100) |
(107.100) |
(12.400) |
|
|
Employees benefits
expense |
1141.000 |
1173.500 |
1132.900 |
|
|
Other expenses |
6267.000 |
6674.400 |
8151.600 |
|
|
TOTAL |
16557.700 |
16695.600 |
18493.700 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
7419.300 |
6934.400 |
5590.600 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
104.200 |
62.700 |
57.200 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
7315.100 |
6871.700 |
5533.400 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
597.400 |
516.700 |
525.300 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
6717.700 |
6355.000 |
5008.100 |
|
|
|
|
|
|
|
Less |
TAX |
2390.400 |
2130.000 |
1546.700 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
4327.300 |
4225.000 |
3461.400 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
49.900 |
89.300 |
86.500 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw and Packing Materials |
NA |
2096.800 |
1933.700 |
|
|
Spare parts |
NA |
38.500 |
55.300 |
|
|
Capital Goods |
NA |
259.100 |
245.300 |
|
|
TOTAL IMPORTS |
NA |
2394.400 |
2234.300 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
133.31 |
130.16 |
106.63 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
30.06.2017 |
30.06.2016 |
30.06.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
6952.600 |
5537.900 |
6311.800 |
|
Net cash flow from operating activity |
4452.600 |
3524.600 |
4255.700 |
QUARTERLY RESULTS
|
Particulars |
30.09.2017 |
31.12.2017 |
|
Unaudited |
1st Quarter |
2nd Quarter |
|
Net Sales |
6575.900 |
7041.600 |
|
Total Expenditure |
4701.400 |
4939.300 |
|
PBIDT (Excl OI) |
1874.500 |
2102.300 |
|
Other Income |
35.400 |
70.900 |
|
Operating Profit |
1909.900 |
2173.200 |
|
Interest |
4.100 |
4.700 |
|
Exceptional Items |
NA |
NA |
|
PBDT |
1905.800 |
2168.500 |
|
Depreciation |
128.400 |
135.200 |
|
Profit Before Tax |
1777.400 |
2033.300 |
|
Tax |
621.800 |
720.900 |
|
Provisions and contingencies |
NA |
NA |
|
Profit After Tax |
1155.600 |
1312.400 |
|
Extraordinary Items |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
|
Other Adjustments |
NA |
NA |
|
Net Profit |
1155.600 |
1312.400 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
30.06.2017 |
30.06.2016 |
30.06.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
20.89 |
24.00 |
17.82 |
|
|
|
|
|
|
Account Receivables Turnover ( Income / Sundry Debtors) |
17.47 |
15.21 |
20.48 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
137.22 |
132.12 |
147.36 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
4.18 |
5.44 |
4.70 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
2.27 |
1.97 |
1.61 |
LEVERAGE RATIOS
|
PARTICULARS |
30.06.2017 |
30.06.2016 |
30.06.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.54 |
0.24 |
0.37 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.20 |
0.31 |
0.58 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.62 |
0.21 |
0.28 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
71.20 |
110.60 |
97.74 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
30.06.2017 |
30.06.2016 |
30.06.2015 |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
18.65 |
18.57 |
14.83 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
37.30 |
19.50 |
17.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
82.25 |
25.58 |
28.17 |
SOLVENCY RATIOS
|
PARTICULARS |
30.06.2017 |
30.06.2016 |
30.06.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.96 |
3.19 |
1.90 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.68 |
2.94 |
1.73 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.45 |
0.76 |
0.63 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.96 |
3.19 |
1.90 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10.00/- |
|
Market Value |
INR 9436.15/- |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
30.06.2015 |
30.06.2016 |
30.06.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
324.600 |
324.600 |
324.600 |
|
Reserves & Surplus |
11962.200 |
16193.200 |
4936.600 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
12286.800 |
16517.800 |
5261.200 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
30.06.2015 |
30.06.2016 |
30.06.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
23337.900 |
22753.900 |
23204.000 |
|
|
|
-2.502 |
1.978 |
NET PROFIT MARGIN
|
Net Profit Margin |
30.06.2015 |
30.06.2016 |
30.06.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
23337.900 |
22753.900 |
23204.000 |
|
Profit/(Loss) |
3461.400 |
4225.000 |
4327.300 |
|
|
14.83% |
18.57% |
18.65% |
LEGAL
CASES
|
Bench:- Bombay |
|||||||
|
Presentation Date:- 31/01/2017 |
|||||||
|
Lodging No. : |
MVXAL/1/2017 |
Failing Date:- |
31/01/2017 |
Reg. No.:- |
MVXA/14/2017 |
Reg. Date:- |
08/03/2017 |
|
Petitioner:- |
THE ADDL.COMMISSIONER OF SALES TAX,VAT-III- |
Respondent:- |
PROCTER AND GAMBLE HYGIENE AND HEALTH CARE LIMITED |
||||
|
Petn.Adv:- |
GOVERNMENT PLEADER ORIGINAL SIDE MUMBAI (I5024) |
||||||
|
District:- |
MUMBAI |
||||||
|
Bench:- |
DIVISION |
Category:- |
MAHARASHTRA VALUE ADDED TAX (MVAT) |
||||
|
Status:- |
Admitted(Unready) |
Stage:- |
FOR ADMISSION |
||||
|
Last Date:- |
11/04/2017 |
||||||
|
Last Coram:- |
HON'BLE SHRI JUSTICE S.C. DHARMADHIKARI HON'BLE SHRI JUSTICE PRAKASH DEU NAIK |
||||||
|
|
|
||||||
|
Act. : |
Maharashtra Value Added Tax |
||||||
|
Bench:- Bombay |
|||||||
|
Presentation Date:- 22/02/2017 |
|||||||
|
Lodging No. : |
ITXAL/559/2017 |
Failing Date:- |
22/02/2017 |
Reg. No.:- |
ITXA/1052/2017 |
Reg. Date:- |
20/07/2017 |
|
Petitioner:- |
PR. COMMISSIONER OF INCOME TAX-10- |
Respondent:- |
PROCTER AND GAMBLE HYGIENE AND HEALTH CARE LIMITED |
||||
|
Petn.Adv:- |
PADMA DIVAKAR (I3287) |
Resp. Adv.: |
RAJESH SHAH AND COMPANY (46) |
||||
|
District:- |
MUMBAI |
||||||
|
Bench:- |
DIVISION |
Category:- |
TAX APPEALS |
||||
|
Status:- |
Pre-Admission |
Stage:- |
FOR REJECTION [ORIGINAL SIDE MATTERS] |
||||
|
Last Date:- |
17/04/2018 |
||||||
|
Last Coram:- |
ACCORDING TO SITTING LIST ACCORDING TO SITTING LIST |
||||||
|
|
|
||||||
|
Act. : |
Income Tax Act,1961 |
Under Section 260A |
|||||
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 |
No |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION
The Company is a public company domiciled in India and is incorporated
under the provisions of the Companies Act, 1956. Its ordinary shares (Equity)
are listed on two recognised stock exchanges in India. The registered office of
the Company is located at P&G Plaza, Cardinal Gracias Road, Chakala,
Andheri (E), Mumbai - 400099.
The Company is engaged in manufacturing and selling of branded packaged
fast moving consumer goods in the femcare and healthcare businesses. The
Company’s products are sold through retail operations including mass
merchandisers, grocery stores, membership club stores, drug stores, department
stores and high frequency stores. The Company has its manufacturing locations
at Goa and Baddi in Himachal Pradesh, apart from third party manufacturing
locations spread across India.
FINANCIAL RESULTS
The Company continues to follow its Financial Year as July 1st to June 30th, pursuant to the approval received
from the Company Law Board in terms of Section 2 (41) of the Companies Act,
2013.
MANAGEMENT DISCUSSION
AND ANALYSIS
Economy and Markets
The fundamentals of the Indian economy have remained positive in a
subdued global economic environment. Indian Economy continues to grow mid to
high single digits.
India’s FMCG sector is among the largest sector in the economy and an
important contributor to India’s GDP. Despite the economic slowdown, the FMCG
industry has remained resilient and the overall outlook remains positive for
India’s consumer goods industry. Some of the new emerging trends that will
drive demand going forward include – growth in disposable income, e-commerce
penetration, the rise of digital advertising, tax structure simplification,
infrastructure development and rural consumption. To be successful, the FMCG
industry will need to remain focused on fundamentals and build capabilities in
line with emerging trends and provide Indian consumers with superior products
at superior value.
The liquidity crunch post demonetization and trade destocking ahead of
Goods and Services Tax Cut-over did impact the economy and their results in
2016-17. But, the business is starting to recover.
Outlook, Risks and Opportunities
The Indian economy presents significant opportunity with a growing
population, category whitespace and rising incomes. They do expect growth rate
in the categories they compete to be around high single digits. However,
currency volatility, supply bottlenecks and intense competition present
significant near term challenges. The Company endeavours to overcome these
risks and to sustain and improve its market position behind superior
innovation, by driving favourable price/mix, consumer relevant communication
and through a relentless focus on productivity.
Performance Overview
The Company operates in a single reportable business and geographical segment. The Company’s core business is manufacturing, marketing and distribution of Hygiene and Health Care products. Under these businesses it has in its portfolio: VICKS – India’s No-1 Healthcare brand, WHISPER – India’s leading Feminine Hygiene brand (in value terms) and OLD SPICE. The discussion on financial performance of the Company and its various businesses is elaborated in the Directors’ Report.
Business, Finance and Operational risks
The Company‘s risk management policy is in line with the parent Company’s global guidelines and as such adequate measures have been adopted by the Company to anticipate, plan and mitigate the spectrum of risks it faces. On business risks (competition, consumer preferences and technology changes) the Company undertakes a Competition Response Model program. For financing risks it has a robust operational contingency and legal plan. It also undertakes Business Contingency Plan for key vendors and natural disasters. The Company also has adequate Insurance coverage to protect the value of its assets. This coverage duly covers any risks relating to business interruption resulting from property damage and legal liability resulting from property damage or personal injury.
The Company has in place a very stringent and
responsive system under which all its distributors and vendors are assessed
before being selected.
INDEX
OF CHARGES
|
Charges Registered |
|||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
Y10350928 |
90243291 |
STATE BANK OF INDIA |
24/07/1996 |
- |
20000000.0 |
COMMERCIAL BRANCH BOMAY MAHARASHTRA INDIA |
|
2 |
Y10349584 |
90241947 |
BANK OF INDIA |
12/11/1991 |
- |
115000000.0 |
GANDHI ROAD BOMBAY MAHARASHTRA INDIA |
|
3 |
Y10350730 |
90243093 |
STATE BANK OF INDIA |
19/09/1991 |
09/10/1992 |
83688000.0 |
COMMERCIAL BRANCH BOMAY MAHARASHTRA INDIA |
|
4 |
Y10349578 |
90241941 |
INDUSTIRAL CRIDIT |
19/09/1991 |
28/08/1992 |
83688000.0 |
BADKBAY RECLAMATION BOMBAY MAHARASHTRA INDIA |
|
5 |
Y10349555 |
90241918 |
STATE BANK OF INDIA |
30/11/1990 |
30/11/1990 |
46000000.0 |
G N VAIDYA MARG BOMBAY MAHARASHTRA INDIA |
|
6 |
Y10349550 |
90241913 |
INDUSTIRAL CRIDITB ANK |
08/09/1990 |
- |
83688000.0 |
COPORATION MUMBAI MAHARASHTRA INDIA |
|
7 |
Y10347119 |
90239482 |
THE INDUSTERAL CRIDIT |
16/03/1990 |
- |
37500000.0 |
BACKBAY BOMBAY MAHARASHTRA INDIA |
|
8 |
Y10350679 |
90243042 |
STATE BANK OF INDIA |
25/01/1990 |
- |
30000000.0 |
COMMERCIAL BRANCH BOMAY MAHARASHTRA INDIA |
|
9 |
Y10350669 |
90243032 |
STATE BANK OF INDIA |
31/10/1989 |
31/10/1989 |
35000000.0 |
COMMERCIAL BRANCH BOMAY MAHARASHTRA INDIA |
|
10 |
Y10349532 |
90241895 |
STATE BANK OF INDIA |
31/10/1989 |
- |
35000000.0 |
G N VIDIAYA MARG BOMBAY MAHARASHTRA INDIA |
STANDALONE UNAUDITED FINANCIAL RESULTS
FOR THE QUARTER AND SIX MONTHS ENDED 31.12.2017
(INR In Million)
|
PARTICULARS |
Three Months Ended |
Preceding Three Months Ended |
Six Months Ended |
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
|
|
|
|
|
|
Revenue from operation |
7041.600 |
6575.900 |
13617.500 |
|
Other income |
70.900 |
35.400 |
106.300 |
|
Total
Income |
7112.500 |
6611.300 |
13723.800 |
|
|
|
|
|
|
EXPENSES |
|
|
|
|
Cost of raw and packing
materials consumed |
1491.400 |
1473.800 |
2965.200 |
|
Purchases of stock-in-trade (Traded Goods) |
1217.500 |
871.400 |
2088.900 |
|
Changes in inventories of finished goods and
work-in-progress |
97.600 |
427.100 |
524.700 |
|
Excise Duty |
0.000 |
0.000 |
0.000 |
|
Employee benefits expense |
290.200 |
291.700 |
581.900 |
|
Finance costs |
4.700 |
4.100 |
8.800 |
|
Depreciation and Amortization expenses |
135.200 |
128.400 |
263.600 |
|
Advertising and sales promotion expense |
674.900 |
527.500 |
1202.400 |
|
Other Expenditure |
1167.700 |
1109.900 |
2277.600 |
|
Total
Expenses |
5079.200 |
4833.900 |
9913.100 |
|
|
|
|
|
|
Profit
before Tax |
2033.300 |
1777.400 |
3810.700 |
|
Tax Expenses |
|
|
|
|
-Current Tax |
742.300 |
629.300 |
1371.600 |
|
-Deferred Tax |
(21.400) |
(7.500) |
(28.900) |
|
Total
|
720.900 |
321.800 |
1342.700 |
|
Profit
for the period |
1312.400 |
1155.600 |
2468.000 |
|
Other
comprehensive income |
|
|
|
|
Other comprehensive income not be reclassified to profit or loss |
|
|
|
|
Re-measurement of the defined employee benefit plans |
(29.700) |
(29.700) |
(59.400) |
|
Income tax effect |
10.300 |
10.300 |
20.600 |
|
Total Other
comprehensive income for the year |
(19.400) |
(19.400) |
(38.800) |
|
Total comprehensive
income for the year |
1293.000 |
1136.200 |
2429.200 |
|
Paid-up Equity Share Capital (Face value INR 10/- per
share) |
324.600 |
324.600 |
324.600 |
|
Reserves as per balance sheet |
-- |
-- |
-- |
|
Earnings per Share (EPS) – INR 10 |
|
|
|
|
Basic
|
40.43 |
35.60 |
76.03 |
|
Diluted
|
40.43 |
35.60 |
76.03 |
STATEMENT OF
ASSETS AND LIABILITIES
(INR
In Million)
|
SOURCES OF FUNDS |
13.12.2017 (Unaudited) |
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
(1)Shareholders' Funds |
|
|
(a) Share Capital |
324.600 |
|
(b) Reserves &
Surplus |
6336.600 |
|
(c) Money received
against share warrants |
0.000 |
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
6661.200 |
|
|
|
|
(3) Non-Current
Liabilities |
|
|
(a) long-term borrowings |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
|
(d) long-term provisions |
83.300 |
|
Total Non-current
Liabilities (3) |
83.300 |
|
|
|
|
(4) Current Liabilities |
|
|
(a) Short term borrowings |
0.000 |
|
(b) Trade payables |
5054.100 |
|
(c) Other current
liabilities |
1983.600 |
|
(d) Short-term provisions |
0.000 |
|
Total Current Liabilities
(4) |
7037.700 |
|
|
|
|
TOTAL |
13782.200 |
|
|
|
|
II.
ASSETS |
|
|
(1) Non-current assets |
|
|
(a) Fixed Assets |
|
|
(i) Tangible assets |
2892.300 |
|
(ii) Intangible Assets |
0.000 |
|
(iii) Capital
work-in-progress |
174.500 |
|
(iv) Intangible assets
under development |
0.000 |
|
(b) Non-current
Investments |
0.000 |
|
(c) Deferred tax assets
(net) |
312.200 |
|
(d) Income tax assets |
1674.900 |
|
(e) Long-term Loan and
Advances |
429.800 |
|
(f) Other Non-current
assets |
81.000 |
|
Total Non-Current Assets |
5564.700 |
|
|
|
|
(2) Current assets |
|
|
(a) Current investments |
|
|
(b) Inventories |
1417.300 |
|
(c) Trade receivables |
2328.600 |
|
(d) Cash and cash
equivalents |
2860.300 |
|
(e) Short-term loans and
advances |
1003.500 |
|
(f) Other current assets |
607.800 |
|
Total Current Assets |
8217.500 |
|
|
|
|
TOTAL |
13782.200 |
Notes:
- The above results were approved by the Board of Directors of the Company at the Board Meeting held on February 3, 2018. In compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a limited review of the above results has been carried out by the Statutory Auditors.
- The above financial results have been prepared in accordance with Indian Accounting Standards ('Ind AS') notified under section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder and the other accounting principles generally accepted in India.
- The Company has identified Health and Hygiene Products as its single primary reportable segment in accordance with the requirements of Ind AS 108 - Operating Segments. Accordingly no separate segment information has been provided.
- Previous period figures have been regrouped reclassified wherever necessary.
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Claims against company not acknowledged as debts |
|
|
|
Income Tax matters |
863.800 |
7 529 |
|
Sales Tax matters |
|
|
|
-Non
submission of “C” Forms/”F” Forms |
225.900 |
264.100 |
|
-Incomplete
accounts books under sales tax |
22.700 |
22.700 |
|
-Classification
issues under sales tax |
3.800 |
3.800 |
|
-Product
valuation issues under sales tax |
6.600 |
6.600 |
|
-Other
sales tax matters |
101.400 |
99.900 |
|
Excise duty, service tax and custom duty
matters |
|
|
|
-Classification
issues under excise tax |
0.900 |
0.900 |
|
-Product
valuation issues under excise tax |
9.500 |
9.500 |
|
-Applicability
of service tax matters |
122.600 |
122.600 |
|
-Other excise,
service tax and customs matters |
0.200 |
0.200 |
|
-Custom duty |
1.900 |
1.900 |
|
Other matters |
|
|
|
-Other claims – The Company is a party to
various legal proceedings in the normal course of business |
6.000 |
4.600 |
FIXED ASSETS
- Land – Freehold
- Buildings
- Plant, Machinery and Equipment
- Furniture and Fixtures
- Office Equipment
- Moulds and Dies
- Vehicles – Forklifts
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 64.87 |
|
|
1 |
INR 90.48 |
|
Euro |
1 |
INR 79.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVT |
|
|
|
|
Analysis Done by
: |
NRG |
|
|
|
|
Report Prepared
by : |
SUD |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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.