|
|
|
MIRA INFORM REPORT
|
Report No. : |
500776 |
|
Report Date : |
29.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
HEINZ INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Units 1901 and 1902, 19th Floor, Lotus Corporate Park
E&G Wings, Off Western Express Highway, Goregaon East, Mumbai – 400063,
Maharashtra |
|
Tel. No.: |
91-22-40085555/40085564 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
14.06.1994 |
|
|
|
|
Com. Reg. No.: |
11- 138918 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 104.170 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15200MH1994PTC138918 |
|
|
|
|
IEC No.: [Import-Export
Code No.] |
0394077458 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AAACH0667B1Z0 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMH03167D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACH0667B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Food Products like Heinz Tomato Ketchup and Strong Local Products like Complan, Glucon-D, Nycil and Sampriti Ghee. (Registered Activity) |
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|
|
|
No. of Employees
: |
Information denied by the management |
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 |
|
Status : |
Excellent |
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|
|
|
Payment Behaviour : |
Regular |
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|
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Litigation : |
Clear |
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Comments : |
Subject is a step-down subsidiary of “H. J. Heinz Holding, Netherlands” which ranks 153 in Fortune 500 list.
Note: As per the Registrar of Companies date of balance sheet (i.e.
financial filed) is shown as 31.03.2017 but documents related to financial
for the year 31.03.2017 are not available from any sources. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 29.03.2018
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 (91-22-40085555/40085564)
LOCATIONS
|
Registered Office / Head Office: |
Units 1901 and 1902, 19th Floor, Lotus Corporate Park
E&G Wings, Off Western Express Highway, Goregaon East, Mumbai – 400063,
Maharashtra, India |
|
Tel. No.: |
91-22-40085555/40085564 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Aligarh Factory, Manzurgarhi, PO Box No. 1, Aligarh - 202 001, Uttar Pradesh , India |
|
Tel. No.: |
91-571-2706621 |
|
|
|
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Factory 2 : |
D – 99, A and B, Eldeco SIDCUL Industrial Park Sitarganj., District
Uddham Singh Nagar – 262405, Uttarakhand, India |
|
|
|
|
Branch Offices: |
Located at: · Mumbai · Delhi · Chennai · Kolkata |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Sankalp Madhav Potbhare |
|
Designation : |
Managing Director |
|
Address : |
A 032, Oakwood Estate, DLF Phase II, Gurugram- 122002,
Haryana, India |
|
Date of Appointment : |
09.02.2018 |
|
DIN No.: |
08066954 |
|
|
|
|
Name : |
Saji Jacob Mathai |
|
Designation : |
Wholetime Director |
|
Address : |
B-10-402, Safal Complex, Sec 19A, Nerul (East), Navi
Mumbai – 400706, Maharashtra, India |
|
Date of Appointment : |
23.09.2015 |
|
DIN No.: |
07275846 |
|
|
|
|
Name : |
Mr. Prameet Kumar Kundoo |
|
Designation : |
Additional Director |
|
Address : |
A-38, Vaishali Nagar, Near National Handloum, Jaipur
-302021, Rajasthan, India |
|
Date of Appointment : |
27.12.2016 |
|
DIN No.: |
07690472 |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
|
Heinz Italia S P
A, Italy |
10416998 |
|
H J Heinz Holding B V, Netherlands |
2 |
|
|
|
|
Total |
10417000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 27.09.2017
|
Category |
Percentage |
|
Promoters-Body corporate (not mentioned above) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Food Products like Heinz Tomato Ketchup and Strong Local Products like Complan, Glucon-D, Nycil and Sampriti Ghee. (Registered Activity) |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
Lovelock and Lewes Chartered Accountants |
|
Address : |
252 Veer Savarkar Marg, Shivaji Park Dadar, Mumbai – 400028, Maharashtra, India |
|
PAN No.: |
AABFL5878L |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
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|
|
|
Holding Company: |
|
|
|
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|
Ultimate Holding company: |
|
|
|
|
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Others: |
|
CAPITAL STRUCTURE
AS ON 27.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
INR 10/- each |
INR 150.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10417000 |
Equity Shares |
INR 10/- each |
INR 104.170 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
104.170 |
104.170 |
104.170 |
|
(b) Reserves and Surplus |
4935.491 |
2899.244 |
4184.896 |
|
(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) |
5039.661 |
3003.414 |
4289.066 |
|
|
|
|
|
|
(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 |
117.080 |
600.994 |
574.705 |
|
Total Non-current
Liabilities (3) |
117.080 |
600.994 |
574.705 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
2711.925 |
2463.320 |
2131.254 |
|
(c) Other
current liabilities |
186.473 |
149.124 |
157.634 |
|
(d) Short-term
provisions |
32.709 |
13.399 |
8.048 |
|
Total Current
Liabilities (4) |
2931.107 |
2625.843 |
2296.936 |
|
|
|
|
|
|
TOTAL |
8087.848 |
6230.251 |
7160.707 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1316.407 |
1419.571 |
1522.308 |
|
(ii)
Intangible Assets |
11.015 |
2.573 |
42.584 |
|
(iii) Tangible assets
capital work-in-progress |
152.327 |
97.793 |
99.067 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
650.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
18.911 |
130.520 |
11.927 |
|
(d)
Long-term loans and advances |
391.868 |
466.896 |
652.936 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
2540.528 |
2117.353 |
2328.822 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1965.827 |
1766.865 |
1590.596 |
|
(c) Trade
receivables |
464.713 |
228.964 |
305.871 |
|
(d) Cash and
bank balances |
2805.998 |
1835.484 |
2766.979 |
|
(e)
Short-term loans and advances |
257.513 |
262.579 |
162.788 |
|
(f) Other
current assets |
53.269 |
19.006 |
5.651 |
|
Total
Current Assets |
5547.320 |
4112.898 |
4831.885 |
|
|
|
|
|
|
TOTAL |
8087.848 |
6230.251 |
7160.707 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
12419.995 |
13949.913 |
12731.702 |
|
|
Other Income |
758.251 |
253.682 |
494.040 |
|
|
TOTAL |
13178.246 |
14203.595 |
13225.742 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
5331.529 |
6293.638 |
6075.821 |
|
|
Purchases of
Stock-in-Trade |
505.133 |
598.440 |
609.230 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(106.373) |
(180.119) |
(56.595) |
|
|
Employee benefit expense |
871.961 |
895.529 |
973.616 |
|
|
Expenditure
on production, transportation and other expenditure pertaining to exploration
and production activities |
288.933 |
329.058 |
1036.049 |
|
|
CSR expenditure |
27.685 |
6.747 |
2.938 |
|
|
Other expenses |
3124.488 |
3487.710 |
3388.960 |
|
|
TOTAL |
10043.356 |
11431.003 |
11330.019 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
3134.890 |
2772.592 |
1895.723 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION |
3134.890 |
2772.592 |
1895.723 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
207.034 |
258.629 |
227.979 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX |
2927.856 |
2513.963 |
1667.744 |
|
|
|
|
|
|
|
Less |
TAX |
891.609 |
628.732 |
220.114 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
2036.247 |
1885.231 |
1447.630 |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2046.900 |
3332.500 |
9037.400 |
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
Appropriation for Dividend including DDT |
0.000 |
3168.700 |
7007.700 |
|
|
Transitional Adj for Dep on
Fixed Assets |
0.000 |
2.200 |
0.000 |
|
|
Transferred to General Reserve |
0.000 |
0.000 |
144.800 |
|
|
Balance
Carried to the B/S |
4083.100 |
2046.900 |
3332.500 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
195.47 |
180.98 |
138.97 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
2311.888 |
2798.368 |
1996.713 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
1671.316 |
2158.587 |
1604.999 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
13.66 |
5.99 |
8.77 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
26.73 |
60.93 |
41.62 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
169.59 |
130.46 |
116.37 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.59 |
1.57 |
0.75 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
2.12 |
1.82 |
0.72 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.36 |
0.42 |
0.32 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.58 |
0.87 |
0.54 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.29 |
0.51 |
0.39 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.00 |
0.00 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
16.39 |
13.51 |
5.87 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
25.18 |
30.26 |
10.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
40.40 |
62.77 |
17.43 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.89 |
1.57 |
2.10 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.22 |
0.89 |
1.41 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.62 |
0.48 |
0.60 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.89 |
1.57 |
2.10 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
104.170 |
104.170 |
104.170 |
|
Reserves & Surplus |
4184.896 |
2899.244 |
4935.491 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
4289.066 |
3003.414 |
5039.661 |
|
|
|
|
|
|
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
12731.702 |
13949.913 |
12419.995 |
|
|
0.000 |
9.568 |
(10.967) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
12731.702 |
13949.913 |
12419.995 |
|
Profit/ (Loss) |
1447.630 |
1885.231 |
2036.247 |
|
|
11.37
% |
13.51
% |
16.39
% |
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 |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been shifted from “D’ Shivsagar, 7th Floor, Worli, Dr. Annie Besant Road, Mumbai - 400018, Maharashtra, India to the present address
COMPANY
INFORMATION (AS ON 31.03.2016)
KraftHeinz Company, headquartered in Chicago, USA, is a global U.S. based food company. Heinz India Private Limited came to India in the Family Products Division of Glaxo with brands such as Complan, Glucon-D, Nycil and Sampriti. Heinz India is fully integrated into the employing high standards in quality at its state-of-the-art manufacturing facility at Aligarh in the State of Uttar Pradesh and at Sitarganj in Uttarakhand. Heinz India provides taste and nutrition through globally trusted products like Heinz Tomato Ketchup and strong local products Glucon-D, Nycil and Sampriti Ghee.
REVIEW OF
OPERATION AND STATE OF COMPANY’S AFFAIRS (AS ON 31.03.2016)
PERFORMANCE
Sales for the year
decreased by 11% over last year mainly due to poor performance on Complan due to
intense competition and softening category growth. Nycil (Prickly heat powder)
grew 4% but Glucon D also dropped by 3%. However, both Glucon D and Nycil
continued to maintain leadership in their respective categories. Complan
performance was also impacted due to heightened regulatory concerns and quality
activism across the food spectrum in India during May to October 2015. This
resulted in many consumers becoming confused for their choice of MFD and hence
abandoning the category.
However, lower
commodity costs and better mix with higher sales of Nycil resulted into lower
COGS. Added to that excellent fixed cost management helped profit growth of
16.5% (margin improved by +4.5%) over prior year.
During the year,
the ultimate holding company H. J. Heinz Company completed the merger with
Kraft Foods Group globally and formed The Kraft Heinz Company (NASDAQ:KHC). In
India, this leads to newer opportunities of expanding the portfolio of the
Kraft products for the large consumer set.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT (OUTLOOK
FOR FY17)
The global economy
in recent years has experienced a slowdown and uncertainty that has made growth
and profitability increasingly elusive. Indian economy faced its own set of
challenges inspite of emerging to be the fastest growing economy in the world
also led by services. The economy is showing recovery with moderate inflation
and reduction in federal revenue deficits.
According to AC
Nielsen, MFD category volume growth slowed down to -5.8%, thereby also limiting
the pricing opportunity that would otherwise be available. Rural growth has
somewhat slowed down on account of unseasonal rains. Despite these challenges,
we believe we are well placed to deliver better performance given their close
to double digit performance in summer brands, continuing work on Complan
revival through a mix of multiple new campaigns, lower pricing, exciting
consumer offers and better value for money communication. Select sales
initiatives like Own the Market and distribution quality enhancement along with
a healthy pipeline for innovative products including launching of Kraft brands
and efficient cost management put us in good stead. We believe the forward
months will be very critical for us to create a sustainable proposition for the
Company.
Sales for the
period between Apr to Aug 2016 came in flat vs prior year as Complan has still
not recovered completely. There are some signs of Complan recovery in the South
market and seasonal brands Glucon-D and Nycil recorded 9% increase. Most
innovations have been placed in the market in the second quarter and as such,
too early to even have trends.
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
AMOUNT |
ADDRESS |
|
1 |
Y10484225 |
90356467 |
CITI BANK |
25/08/1998 |
40000000.0 |
JEEVAN VIHARSANSAD MARGNEW DELHIDLIN |
CONTINGENT
LIABILITIES
(INR IN Million)
|
Particulars |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
Claims against the company not acknowledged as debts : |
|
|
|
Sales tax and trade tax related matters |
235.513 |
272.900 |
|
Bank guarantee |
0.958 |
1.120 |
|
Stamp duty Case |
186.333 |
186.333 |
|
Income tax matters in respect of which appeals are pending |
35.291 |
441.639 |
FIXED ASSETS:
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
Intangible assets
- Brands and trade marks
- Trade marks
- Computer software
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 65.04 |
|
|
1 |
INR 92.28 |
|
Euro |
1 |
INR 80.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKY |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.