|
|
|
MIRA INFORM REPORT
|
Report No. : |
507371 |
|
Report Date : |
14.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
KIMBERLY-CLARK INDIA PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
KIMBERLY-CLARK LEVER LIMITED |
|
|
|
|
Registered
Office : |
Gat No. 934-937, Village Sanaswadi, Taluka-Shirur, Pune – 412208,
Maharashtra |
|
Tel. No.: |
91-2137-252545 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
20.09.1994 |
|
|
|
|
Com. Reg. No.: |
11-081290 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 903.400 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999PN1994PTC081290 |
|
|
|
|
IEC No.: [Import-Export
Code No.] |
0394055276 |
|
|
|
|
GSTN : [Goods & Service Tax Registration
No.] |
27AAACK4647E1ZN |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
TIN/CST No.: |
27470368823 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK4647E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers, dealers and distributors of products of paper, pulp, tissue and any plastic and synthetic materials including disposable baby diapers, feminine sanitary protection products and other personal, health care and hygiene products. [Registered Activity] |
|
|
|
|
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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 800000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject a joint venture between “Hindustan Unilever Limited” and “Kimberly Clark Corporation” U.S.A. The company was incorporated in the year 1994.
Rating also derives strength from company’s established
track record of business. In view of 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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 14.05.2018
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 (91-2137-252545)
LOCATIONS
|
Registered Office/ Factory : |
Gate No. 934-937,
Village Sansawadi, Taluka Shirur, District Pune – 412208, Maharashtra, India |
|
Tel. No.: |
91-2137-252545 to
49 / 252156 |
|
Fax No.: |
91-2137-252533 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate
Office : |
165/166, Backbay
Reclamation, Churchgate, Mumbai – 400020, Maharashtra, India |
|
Tel. No.: |
91-22-22876222 |
|
Fax No.: |
91-22-22041920 /
3117 |
DIRECTORS
AS ON 31.03.2018
|
Name : |
Mr. Suryakant Pandey |
||||||||
|
Designation : |
Managing Director |
||||||||
|
Address : |
Nagdone Colony, Vyapar, Vihar Bilaspur – 495004, Chhattisgarh,
India |
||||||||
|
Date of Birth/Age : |
21.08.1969 |
||||||||
|
Qualification: |
Post Graduate |
||||||||
|
Date of Appointment : |
30.09.2015 |
||||||||
|
DIN No.: |
07278994 |
||||||||
|
Other Directorship:
|
|||||||||
|
|
|
||||||||
|
Name : |
Mr. Achal Agarwal |
||||||||
|
Designation : |
Nominee Director |
||||||||
|
Address : |
360 DDA SFS Flats, Hauz Khas, New Delhi – 110016, India |
||||||||
|
Date of Birth/Age : |
04.08.1959 |
||||||||
|
Date of Appointment : |
12.03.2012 |
||||||||
|
DIN No.: |
05225330 |
||||||||
KEY EXECUTIVES
|
Name : |
Mr. Tarang Kishor Kulkarni |
|
Designation : |
Company Secretary |
|
Address : |
1, Kamla Park, Behind New Era School, Wazare Mala, Govind
Nagar, Nashik -422009, Maharashtra, India |
|
Date of Appointment : |
26.02.2018 |
|
PAN No.: |
CIGPK8679D |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Hindustan
Unilever Limited, India |
|
45169775 |
|
Unilever India Exports Limited, India |
|
1 |
|
Ponds Exports
Limited, India |
|
1 |
|
Sridhar Ramamurthy
Jointly with Unilever India Exports Limited, India |
|
1 |
|
Kimberly-Clark
Corporation, United States of America |
|
45169778 |
|
|
|
|
|
Total |
|
90339556 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2017
|
Category |
Percentage |
|
Promoters [Bodies
corporate] |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers, dealers and distributors of products of paper, pulp, tissue and any plastic and synthetic materials including disposable baby diapers, feminine sanitary protection products and other personal, health care and hygiene products. [Registered Activity] |
||||||||||||||
|
|
|
||||||||||||||
|
Products / Services
: |
|
||||||||||||||
|
|
|
||||||||||||||
|
Brand Names : |
Not Available |
||||||||||||||
|
|
|
||||||||||||||
|
Agencies Held : |
Not Available |
||||||||||||||
|
|
|
||||||||||||||
|
Exports : |
Not Divulged |
||||||||||||||
|
|
|
||||||||||||||
|
Imports : |
Not Divulged |
||||||||||||||
|
|
|
||||||||||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information denied by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
N. M. Raiji and
Company Chartered
Accountants |
|
Address : |
Universal Insurance
Building, Pherozeshah Mehta Road, Mumbai - 411001, Maharashtra, India |
|
Tel. No.: |
91-22-22870068 /
22873463 / 22837482 |
|
Fax No.: |
91-22-22828646 /
22650578 |
|
E-Mail : |
|
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFN4217G |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Joint Venture : |
· Hindustan Unilever Limited, India (CIN No. L15140MH1933PLC002030) · Kimberly-Clark Corporation, United States of America |
|
|
|
|
Other Related
Parties : |
|
CAPITAL STRUCTURE
AFTER 29.09.2017
Authorised Capital : INR 2000.000 Million
Issued, Subscribed & Paid-up Capital : INR 1555.647 Million
AS ON 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000000 |
Equity Shares |
INR 10/- each |
INR 1000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90339556 |
Equity Shares |
INR 10/- each |
INR 903.396 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are INR
Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
903.400 |
903.400 |
846.933 |
|
(b) Reserves &
Surplus |
(624.300) |
(392.700) |
(440.409) |
|
(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) |
279.100 |
510.700 |
406.524 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
910.000 |
840.000 |
140.000 |
|
(b) Deferred tax
liabilities (Net) |
149.000 |
131.400 |
7.393 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
7.300 |
4.100 |
0.000 |
|
Total Non-current
Liabilities (3) |
1066.300 |
975.500 |
147.393 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
725.200 |
645.000 |
720.786 |
|
(b) Trade payables |
1008.500 |
1018.200 |
1096.764 |
|
(c) Other current
liabilities |
196.700 |
165.700 |
288.650 |
|
(d) Short-term provisions |
14.900 |
9.600 |
18.246 |
|
Total Current Liabilities
(4) |
1945.300 |
1838.500 |
2124.446 |
|
|
|
|
|
|
TOTAL |
3290.700 |
3324.700 |
2678.363 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1326.700 |
836.200 |
757.232 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
62.600 |
472.200 |
114.221 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
806.523 |
|
(e) Other Non-current
assets |
1054.700 |
886.700 |
0.000 |
|
Total Non-Current Assets |
2444.000 |
2195.100 |
1677.976 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
625.800 |
521.000 |
665.279 |
|
(c) Trade receivables |
122.700 |
79.900 |
67.166 |
|
(d) Cash and cash equivalents |
11.900 |
428.600 |
177.754 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
62.401 |
|
(f) Other current assets |
86.300 |
100.100 |
27.787 |
|
Total Current Assets |
846.700 |
1129.600 |
1000.387 |
|
|
|
|
|
|
TOTAL |
3290.700 |
3324.700 |
2678.363 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
3334.300 |
3494.300 |
3489.362 |
|
|
Other Income |
9.400 |
8.800 |
58.363 |
|
|
TOTAL |
3343.700 |
3503.100 |
3547.725 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1641.900 |
1872.000 |
2185.257 |
|
|
Purchases of
Stock-in-Trade |
57.100 |
60.800 |
35.990 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(48.900) |
56.600 |
(62.387) |
|
|
Employees benefits
expense |
323.500 |
253.200 |
255.232 |
|
|
Other expenses |
1373.600 |
1194.600 |
1118.102 |
|
|
Exceptional
items |
(29.900) |
48.200 |
70.200 |
|
|
TOTAL |
3317.300 |
3485.400 |
3602.394 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
26.400 |
17.700 |
(54.669) |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
144.000 |
121.200 |
56.035 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
(117.600) |
(103.500) |
(110.704) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
112.700 |
84.800 |
82.158 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(230.300) |
(188.300) |
(192.862) |
|
|
|
|
|
|
|
Less |
TAX |
1.300 |
(0.200) |
3.084 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(231.600) |
(188.100) |
(195.946) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share
(INR) |
(2.55) |
(2.22) |
(2.34) |
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 |
168.831 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
(341.000) |
(234.300) |
(1.529) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(251.800) |
(180.800) |
(1.529) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
13.43 |
8.35 |
7.03 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
27.17 |
43.73 |
51.95 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
216.66 |
192.28 |
180.22 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.04 |
0.03 |
-0.08 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.02 |
0.01 |
-0.06 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.87 |
0.81 |
0.91 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
5.86 |
2.91 |
2.53 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
6.97 |
3.60 |
5.23 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
4.98 |
2.56 |
2.14 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.18 |
0.15 |
(0.98) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(6.95) |
(5.38) |
(5.62) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(7.04) |
(5.66) |
(7.32) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(82.98) |
(36.83) |
(48.20) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.44 |
0.61 |
0.47 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.11 |
0.33 |
0.16 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.08 |
0.15 |
0.15 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
1.81 |
1.64 |
1.22 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.44 |
0.61 |
0.47 |
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 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR In
Million |
|
Share Capital |
846.933 |
903.400 |
903.400 |
|
Reserves & Surplus |
(440.409) |
(392.700) |
(624.300) |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
406.524 |
510.700 |
279.100 |
|
|
|
|
|
|
Long Term borrowings |
140.000 |
840.000 |
910.000 |
|
Short Term borrowings |
720.786 |
645.000 |
725.200 |
|
Total
borrowings |
860.786 |
1485.000 |
1635.200 |
|
Debt/Equity
ratio |
2.117 |
2.908 |
5.859 |
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
|
3489.362 |
3494.300 |
3334.300 |
|
|
|
0.142 |
(4.579) |
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
|
3489.362 |
3494.300 |
3334.300 |
|
Profit |
(195.946) |
(188.100) |
(231.600) |
|
|
(5.62%) |
(5.38%) |
(6.95%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
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 |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
AMOUNT |
ADDRESS |
|
1 |
C70322177 |
10602931 |
THE HONGKONG AND
SHANGHAI BANKING CORPORATION LIMITED |
09/10/2015 |
450000000.0 |
AMAR AVINASH CORPORATE
CITY, SHOP NO.6-7-8SURVEY NO.11, BUND GARDEN ROADPUNEMH411001IN |
|
2 |
B90205238 |
10473641 |
THE HONGKONG AND
SHANGHAI BANKING CORPORATION LIMITED |
02/08/2013 |
392000000.0 |
52/60,MAHATMA
GANDHI ROAD,FORTMUMBAIMH400001IN |
|
3 |
Y10176777 |
90091756 |
ABN AMRO BANK |
12/01/2002 |
5000010.0 |
327; M.G.
ROADPUNEMH411001IN |
|
4 |
Y10169749 |
90084728 |
ABN AMRO BANK N. V |
18/11/1997 |
70000000.0 |
327; M. G.
ROADPUNE CAMPPUNEMH411001IN |
|
5 |
Y10169515 |
90084494 |
ABN AMRO BANK N. V |
22/07/1996 |
20000000.0 |
14VEER
NARIMANBOMBAYMH400023IN |
|
6 |
Y10169507 |
90084486 |
BANQUE NATSONALE
DE PARIS |
11/07/1996 |
30000000.0 |
CG 3; KONARK
ESTATES9; CONNAUGHT ROADPUNEMH411001IN |
FIXED ASSETS:
- Plant and equipment
- Land
- Buildings
- Furniture and fixtures
- Office equipment
- Computer equipments
PRESS RELEASE:
HUL SELLS ITS ENTIRE
STAKE IN JOINT VENTURE WITH KIMBERLY-CLARK
September 29 2017
Hindustan Unilever on Friday says it has sold its 50% stake in
Kimberly-Clark Lever to Kimberly-Clark Corp.
Mumbai: Hindustan Unilever
Ltd (HUL), India’s largest consumer packaged goods company, has sold its 50%
stake in its joint venture to partner Kimberly-Clark Corp., HUL said in stock
exchange filings on Friday.
The firm had announced its intention to exit
the venture in July 2016.
The joint venture, Kimberly Clark Lever
Private Limited (KCL), sold Huggies diapers and Kotex sanitary napkins in
India.
HUL set up the venture in 1995 with the US
personal care multinational that sells iconic tissue brand Kleenex in the US
along with Kotex and Huggies.
Kotex’s biggest competitor in India is
Procter and Gamble (P&G) Hygiene and Health Care Limited’s Whisper, the
largest women’s hygiene brand in the country.
HUL on Friday said it had formalized the
stake sale so that it could “focus on its core business”.
Its biggest business segments are soaps and
detergents. Detergents made up 18.72% of the sales in FY17, as per HUL’s latest
annual report.
The step is part of the company’s long-term
plan to move away from non-core businesses and cut costs.
“This business (KCL) was extremely
insignificant and it made sense to divest from it,” said Sachin Bobade, an
analyst at Dolat Capital Market Private Limited
“HUL has been pulling out of non-core
businesses for a while. It divested its Modern Bread business as well,” he
added. HUL bought Modern Bakery in 2000 and then sold it to private equity firm
Everstone in 2016.
“Unilever has a global mandate to raise
margins by 300-400 basis points,” said Abneesh Roy, senior vice-president at
Edelweiss Financial Services Limited.
“India is 8-9% of the global business, so it
would also be part of cost-cutting exercises. In fact, HUL had said in its
annual report that the feminine hygiene business is very competitive with the
No. 1 firm being P&G (Whisper). If you are No. 3 or No. 4 in a segment with
a very aggressive competitor, it doesn’t make sense to stay (invested).”
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 67.22 |
|
|
1 |
INR 90.88 |
|
Euro |
1 |
INR 80.09 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAM |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.