|
|
|
MIRA INFORM REPORT
|
Report No. : |
509303 |
|
Report Date : |
15.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
HINDUSTAN COCA-COLA BEVERAGES PRIVATE LIMITED (w.e.f. 11.10.1999) |
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|
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|
Formerly Known
As : |
HINDUSTAN COCA-COLA BOTTLING SOUTHWEST PRIVATE LIMITED |
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Registered Office
: |
B-91, Mayapuri Industrial Area, Phase- I, New Delhi – 110064 |
|
Tel. No.: |
91-80-30136045 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
14.02.1997 |
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|
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Com. Reg. No.: |
55-085151 |
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Capital
Investment / Paid-up Capital : |
INR 5484.690 Million |
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|
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|
CIN No.: [Company Identification
No.] |
U74899DL1997PTC085151 |
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|
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IEC No.: [Import-Export Code No.] |
0597058482 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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TIN No.: |
07900208527 |
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|
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|
GSTN : [Goods & Service Tax
Registration No.] |
07AAACH3005M1ZT |
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PAN No.: [Permanent Account No.] |
AAACH3005M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Subject is engaged in manufacturing and distribution of non-alcoholic beverages under the authority of ‘The Coca-Cola Company’, USA and primarily sells its products in India. (Registered activity) |
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No. of Employees
: |
Information declined 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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Maximum Credit Limit : |
USD 90000000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject was incorporated in the year 1997. It is a subsidiary of Hindustan Coca Cola Holdings Private Limited. Hindustan Coca-Cola Beverages Private Limited (HCCBPL) is one of India’s largest FMCG manufacturing and distribution companies. It is responsible for the manufacture, package, sale and distribution of beverages under the trademarks of The Coca-Cola Company. The Company owns and operates 21 factories. It also sources from and supports 11 contract packers’ plants. A network of 4,000 distributors and over 1.9 million retail outlets distributes the company’s products. As part of the Bottling Investments Group of The Coca-Cola Company, HCCBPL has 21 bottling plants at strategic locations in various states spread across India. It covers approximately 65% of bottling operations for the Coca-Cola System in India. The company’s products include 3 categories-Sparkling beverage- Coca-Cola, Diet Coke, Thums Up, Sprite, Fanta, Limca, Kinley, Soda, Schweppes and Tonic Water, Still beverage- Maaza, Minute Maid, Pulpy Orange, Nimbu Fresh, Fruit flavored drinks and Juices and Water- Kinley and Bonaqua. As per the financial records of 2017, the company has reported a decline in its revenue as compared to the previous year’s revenue and has incurred losses during the year under the review. The rating takes into consideration the strong financial position of the company backed by robust net worth base along with low debt balance sheet profile. Rating also takes into consideration the financial and managerial support that the company derives from its holding company and Coca-Cola Group. Business is active. Payment seems to be regular. In view of aforesaid, the company can be considered for
business dealings at usual trade terms and condition. |
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
31-03-2018.
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 15.05.2018
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 (Tel
No.:91-11-48004200/ 91-8800296144)
LOCATIONS
|
Registered Office : |
B-91, Mayapuri Industrial Area, Phase- I. New Delhi – 110064, India |
|
Tel. No.: |
91-11-48004200 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
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|
|
|
Corporate Office : |
3rd
Floor, Orchid Centre, DLF Golf
Course Road, Sector 53,
Gurugram – 122 001, Haryana, India |
|
Tel. No.: |
91-124-6755500/ 4705600 |
|
Facsimile No.: |
91-124-6755501 |
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|
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Zonal Offices : |
Located at:
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DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Shukla Wassan |
||||||||
|
Designation : |
Whole-Time Director |
||||||||
|
Address : |
Y-141, Regency Park II, DLF Phase IV, Gurugram-122009, Haryana, India |
||||||||
|
Date of Birth/Age : |
18.12.1959 |
||||||||
|
Qualification : |
FCS, LLB, B.com(Hons) |
||||||||
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Experience : |
57 Years |
||||||||
|
Date of Appointment : |
25.08.2014 |
||||||||
|
PAN No.: |
AAHPW8633J |
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|
DIN No.: |
02770898 |
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|
||||||||
|
Name : |
Mr. Harsh Bhutani |
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|
Designation : |
Whole time Director |
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|
Address : |
Flat No. 301, Tower 7, Vipul Greens, Sohna Road, Gurugram – 122001, Haryana, India |
||||||||
|
Date of Birth/Age : |
18.01.1973 |
||||||||
|
Qualification : |
Chartered Accountant |
||||||||
|
Date of Appointment : |
25.04.2016 |
||||||||
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PAN No.: |
AARPB8145L |
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DIN No.: |
|||||||||
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Other Directorship:
|
|||||||||
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|
||||||||
|
Name : |
Mr. Dinesh Jadhav |
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|
Designation : |
Whole time Director |
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|
Address : |
B3-904, Green Acres Prahladnagar, Ahmedabad – 380015,
Gujarat, India |
||||||||
|
Date of Appointment : |
22.07.2017 |
||||||||
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DIN No.: |
07871398 |
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|
||||||||
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Name : |
Ms. Christina Maria Ruggiero |
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Designation : |
Whole time Director |
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|
Address : |
No. A-180, Prestige Golfshire Nandi Hills Road Karahalli, Post
Devanahalli Taluka, Bangalore – 562110, Karnataka, India |
||||||||
|
Date of Appointment : |
11.08.2017 |
||||||||
|
DIN No.: |
07901511 |
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KEY EXECUTIVES
|
Name : |
Daisy Khanna |
|
Designation : |
Company Secretary |
|
Address : |
Flat No. 608, Narmada Block N-5, DDA Flats, Sec-D Vasant
Kunj, South West Delhi – 110070, India |
|
Date of Appointment : |
19.07.2017 |
|
PAN No.: |
AKZPK7280R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Hindustan Coca-Cola Holdings Private Limited, India |
|
259250180 |
|
The HCCB Employees Welfare Trust, India |
|
20250100 |
|
The HCCB Employees Stock Options Trust, India |
|
20250020 |
|
Harsh Kumar Bhutani |
|
1 |
|
Ravinder Narain |
|
3 |
|
Dadachanji Behram Jamshed |
|
4 |
|
Pinnacle Trades International Private Limited, India |
|
250000 |
|
Total |
|
300000308 |
|
Names of Equity Shareholders (Class B) |
No. of Shares |
|
Hindustan Coca-Cola Holdings Private Limited, India |
248469047 |
|
Total |
248469047 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Hindustan Coca-Cola Holdings Private Limited, India |
|
803359200 |
|
Total |
|
803359200 |
Equity Share Break up (Percentage of Total Equity)
As on 15.09.2017
|
Category |
Percentage |
|
Promoter - Bodies
corporate |
92.57 |
|
Public - Bodies corporate |
0.05 |
|
Public – Other Trust |
7.38 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Subject is engaged in manufacturing and distribution of non-alcoholic beverages under the authority of ‘The Coca-Cola Company’, USA and primarily sells its products in India. (Registered activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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||||
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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 declined by the management |
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Bankers : |
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Auditors : |
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|
Name : |
S R Batliboi and Company Chartered Accountants |
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Address : |
Golf View Corporate Towers- B, Sector-42, Sector Road,
Gurugram-122002, Haryana, India |
|
Tel. No.: |
91-124-4644000 |
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Fax No.: |
91-124-4644050 |
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PAN N Income-tax PAN of auditor or auditor's firm : |
ACHFS9180N |
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|
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|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
|
|
Holding company : |
U51227DL2000PTC106974 |
|
|
|
|
Group companies
where common control exists and with whom transactions have taken place
during the year : |
U72900DL2013FTC252352
|
|
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|
|
Parties having direct/
indirect control over the Company : |
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1350000000 |
Equity Shares ‘Class A’ |
INR 10/- each |
INR 13500.000 Million |
|
800000000 |
Equity Shares ‘Class B’ |
INR 10/- each |
INR 8000.000 Million |
|
|
Total |
|
INR 21500.000
Million |
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
900000000 |
Preference Shares |
INR 10/- each |
INR 9000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000408 |
Equity Shares ‘Class A’ |
INR 10/- each |
INR 3000.000
Million |
|
248469047 |
Equity Shares ‘Class B’ |
INR 10/- each |
INR 2484.690
Million |
|
|
Total |
|
INR 5484.690 Million |
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
803359200 |
Preference Shares * |
INR 10/- each |
INR 8033.590
Million |
|
|
|
|
|
Note: *Transfer of redeemable preference shares to
other and financial liabilities.
FINANCIAL DATA
[all figures are
in 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 |
5484.690 |
5484.690 |
13518.290 |
|
(b) Reserves & Surplus |
25956.990 |
28353.250 |
25032.200 |
|
(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) |
31441.680 |
33837.940 |
38550.490 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
6946.280 |
6449.660 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
126.470 |
|
(d) long-term provisions |
1434.550 |
1086.780 |
833.770 |
|
Total
Non-current Liabilities (3) |
8380.830 |
7536.440 |
960.240 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
8694.150 |
931.940 |
2881.350 |
|
(b) Trade payables |
15351.850 |
14579.110 |
12975.130 |
|
(c) Other current liabilities |
7280.990 |
7002.080 |
6322.750 |
|
(d) Short-term provisions |
813.010 |
912.950 |
934.810 |
|
Total
Current Liabilities (4) |
32140.000 |
23426.080 |
23114.040 |
|
|
|
|
|
|
TOTAL |
71962.510 |
64800.460 |
62624.770 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
35404.140 |
32103.210 |
32419.820 |
|
(ii) Intangible Assets |
900.210 |
1099.550 |
852.010 |
|
(iii) Capital work-in-progress |
3909.170 |
3311.200 |
1325.750 |
|
(iv) Intangible assets under
development |
64.260 |
18.030 |
173.390 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.070 |
|
(c) Deferred tax assets (net) |
1714.280 |
1188.410 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
4080.060 |
|
(e) Other Non-current assets |
3268.650 |
3342.520 |
5.910 |
|
Total
Non-Current Assets |
45260.710 |
41062.920 |
38857.010 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
18937.950 |
17508.400 |
18248.960 |
|
(c) Trade receivables |
3703.890 |
2576.590 |
1623.570 |
|
(d) Cash and cash equivalents |
30.400 |
149.300 |
152.030 |
|
(e) Short-term loans and advances |
62.810 |
37.830 |
3738.200 |
|
(f) Other current assets |
3966.750 |
3465.420 |
5.000 |
|
Total
Current Assets |
26701.800 |
23737.540 |
23767.760 |
|
|
|
|
|
|
TOTAL |
71962.510 |
64800.460 |
62624.770 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
94726.480 |
94757.600 |
78585.020 |
|
|
Other Income |
296.120 |
253.900 |
571.750 |
|
|
TOTAL
|
95022.600 |
95011.500 |
79156.770 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
38645.390 |
38556.300 |
38115.460 |
|
|
Purchases of Stock-in-Trade |
5576.920 |
3566.560 |
2387.320 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(489.260) |
(38.610) |
(1356.950) |
|
|
Employees benefits expense |
10001.850 |
9979.910 |
9725.590 |
|
|
Exceptional Items |
777.930 |
772.190 |
0.000 |
|
|
CSR Expenditure |
0.000 |
0.000 |
52.930 |
|
|
Other expenses |
38244.300 |
36464.730 |
24205.480 |
|
|
TOTAL |
92757.130 |
89301.080 |
73129.830 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
2265.470 |
5710.420 |
6026.940 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
724.930 |
518.800 |
47.270 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1540.540 |
5191.620 |
5979.670 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
4320.420 |
3977.190 |
3568.250 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(2779.880) |
1214.430 |
2411.420 |
|
|
|
|
|
|
|
Less |
TAX |
(449.670) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(2330.210) |
1214.430 |
2411.420 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
(4.25) |
2.21 |
4.40 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(1264.360) |
7478.390 |
6871.740 |
|
Net cash flows from (used in) operating activities |
(466.000) |
8119.820 |
6374.940 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
14.27 |
9.92 |
7.54 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
25.57 |
36.78 |
48.40 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
126.71 |
126.33 |
116.93 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.12 |
0.33 |
0.33 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.06 |
0.16 |
0.17 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.54 |
0.46 |
0.37 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.50 |
0.22 |
0.07 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ Net Worth) |
1.02 |
0.69 |
0.60 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
1.28 |
1.08 |
0.90 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
3.13 |
11.01 |
127.50 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(2.46) |
1.28 |
3.07 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(3.24) |
1.87 |
3.85 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(7.41) |
3.59 |
6.26 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.83 |
1.01 |
1.03 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.24 |
0.27 |
0.24 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.44 |
0.52 |
0.62 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
2.85 |
1.35 |
0.21 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.83 |
1.01 |
1.03 |
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 |
13518.290 |
5484.690 |
5484.690 |
|
Reserves & Surplus |
25032.200 |
28353.250 |
25956.990 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
38550.490 |
33837.940 |
31441.680 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
6449.660 |
6946.280 |
|
Short Term borrowings |
2881.350 |
931.940 |
8694.150 |
|
Total
borrowings |
2881.350 |
7381.600 |
15640.430 |
|
Debt/Equity
ratio |
0.075 |
0.218 |
0.497 |
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
|
78585.020 |
94757.600 |
94726.480 |
|
|
|
20.580 |
(0.033) |
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
|
78585.020 |
94757.600 |
94726.480 |
|
Profit
(Loss) |
2411.420 |
1214.430 |
(2330.210) |
|
|
3.07% |
1.28% |
(2.46%) |
ABRIDGED
BALANCE SHEET – (CONSOLIDATED)
|
SOURCES
OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
5484.690 |
5484.690 |
|
(b) Reserves & Surplus |
|
25957.880 |
28354.410 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
31442.570 |
33839.100 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
6946.280 |
6449.660 |
|
(b) Deferred tax liabilities
(Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
1434.550 |
1086.780 |
|
Total
Non-current Liabilities (3) |
|
8380.830 |
7536.440 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
8694.150 |
931.940 |
|
(b) Trade payables |
|
15353.040 |
14580.370 |
|
(c) Other current liabilities |
|
7280.990 |
7002.110 |
|
(d) Short-term provisions |
|
818.980 |
918.920 |
|
Total
Current Liabilities (4) |
|
32147.160 |
23433.340 |
|
|
|
|
|
|
TOTAL |
|
71970.560 |
64808.880 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
35404.150 |
32103.210 |
|
(ii) Intangible Assets |
|
900.210 |
1099.550 |
|
(iii) Capital work-in-progress |
|
3909.170 |
3311.200 |
|
(iv) Intangible assets under
development |
|
64.260 |
18.030 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
1714.280 |
1188.410 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
3273.940 |
3347.810 |
|
Total
Non-Current Assets |
|
45266.010 |
41068.210 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
18937.950 |
17508.400 |
|
(c) Trade receivables |
|
3703.890 |
2576.590 |
|
(d) Cash and cash equivalents |
|
33.150 |
152.430 |
|
(e) Short-term loans and
advances |
|
62.810 |
37.830 |
|
(f) Other current assets |
|
3966.750 |
3465.420 |
|
Total
Current Assets |
|
26704.550 |
23740.670 |
|
|
|
|
|
|
TOTAL |
|
71970.560 |
64808.880 |
PROFIT
& LOSS ACCOUNT– (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
94726.480 |
94757.600 |
|
|
Other Income |
|
296.120 |
256.680 |
|
|
TOTAL
|
|
95022.600 |
95014.280 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
38645.390 |
38556.300 |
|
|
Purchases of Stock-in-Trade |
|
5576.920 |
3566.560 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(489.260) |
(38.610) |
|
|
Employees benefits expense |
|
10001.850 |
9979.910 |
|
|
Exceptional Items |
|
777.930 |
772.190 |
|
|
Other expenses |
|
38244.570 |
36463.190 |
|
|
TOTAL |
|
92757.400 |
89299.540 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
2265.200 |
5714.740 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
724.930 |
518.800 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
1540.270 |
5195.940 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
|
4320.420 |
3977.190 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
(2780.150) |
1218.750 |
|
|
|
|
|
|
|
Less |
TAX |
|
(449.670) |
(2.990) |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
(2330.480) |
1221.740 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
(4.25) |
2.21 |
LEGAL
CASES
CIVIL COURT
SENIOR DIVISION, PUNE
Case Details
|
Case Type: |
C. Appin |
|
|
|
Filing
Number: |
203648/2015 |
Filing Date: |
13.07.2015 |
|
Registration
Number: |
200039/2015 |
Registration Number: |
04.08.2015 |
|
CNR Number: |
MHPU02-003768-2015 |
|
|
Case Status
|
First Hearing
Date: |
20th August 2015 |
|
Next Hearing
Date: |
24th June 2016 |
|
Stage of
Case: |
Unready Board |
|
Court Number and
Judge: |
77-2ND JOINT C.J.S.D. AND J.M.F.C. PUNE |
Petitioner and Advocate
|
1) MS Quality Pattern Work Limited Address:-Plot No. 711B, Unit No. 6, Khira Industrial Premiss, Near ASAL, G Blcok, MIDC, Bhosari, Pune - 411026 Advocate: M. M. Gadgil |
Respondent and Advocate
|
1. MS Kineco Private Limited Address :-Plot No. 41, 60 Pilerne Industrial Estate, Pilerne Bardez, Ta Bardez, GOA-403511 |
Acts
|
Under Act(s) |
Under Section(s) |
|
Civil Procedure Codes |
39 |
History of Case Hearing
|
Registration Number |
Judge |
Business On Date |
Hearing Date |
Purpose of hearing |
|
200039/2015 |
2ND JOINT C.J.S.D. AND J.M.F.C. PUNE |
20.08.2015 |
02.09.2015 |
Admission and Denial |
|
200039/2015 |
2ND JOINT C.J.S.D. AND J.M.F.C. PUNE |
02.09.2015 |
19.09.2015 |
Admission and Denial |
|
200039/2015 |
2ND JOINT C.J.S.D. AND J.M.F.C. PUNE |
19.09.2015 |
05.10.2016 |
Admission and Denial |
|
200039/2015 |
2ND JOINT C.J.S.D. AND J.M.F.C. PUNE |
05.10.2016 |
23.10.2015 |
Admission and Denial |
DISTRICT AND SESSIONS COURT, SATARA
Case Details
|
Case Type: |
Spl.C.S. |
|
|
|
Filing
Number: |
2077/2017 |
Filing Date: |
16.11.2017 |
|
Registration
Number: |
2/2017 |
Registration
Number: |
16.11.2017 |
|
CNR Number: |
MHST01-003281-2017 |
|
|
Case Status
|
First Hearing Date: |
24th November 2017 |
|
Next Hearing
Date: |
22nd February 2018 |
|
Stage of
Case: |
Evidence Part Heard |
|
Court Number and
Judge: |
2--District Judge-1 Satara |
Petitioner and Advocate
|
1) Ajinkyatara Sajakari Sakhar Karkhana Limited Advocate: Rajebhosale J.S |
Respondent and Advocate
|
1. Hindustan Coca Cola Beverages Private Limited Advocate: Wadikar N.M 2) ICICI Bank Limited 3) The United Western Bank Limited |
Acts
|
Under Act(s) |
Under Section(s) |
|
Civil Procedure Codes |
() |
History of Case Hearing
|
Registration Number |
Judge |
Business On Date |
Hearing Date |
Purpose of hearing |
|
2/2017 |
District Judge-1 Satara |
24.11.2017 |
29.01.2018 |
Evidence Part Heard |
|
2/2017 |
District Judge-1 Satara |
29.01.2018 |
22.02.2018 |
Evidence Part Heard |
DISTRICT AND SESSIONS COURT, SATARA
Case Details
|
Case Type: |
SCS |
|
|
|
Filing
Number: |
1466/2017 |
Filing Date: |
11.08.2017 |
|
Registration
Number: |
31/2017 |
Registration
Number: |
11.08.2017 |
|
CNR Number: |
GANG01-002191-2017 |
|
|
Case Status
|
First Hearing
Date: |
28th September 2017 |
|
Next Hearing
Date: |
02nd January 2018 |
|
Stage of
Case: |
ARGUMENTS ON EXHIBIT |
|
Court Number and
Judge: |
3-District Judge - 1 and Additional Sessions Judge |
Petitioner and Advocate
|
1) Mybros Advocate: V. Tajgaonkar 2) Siddharth C. Mayekar 3) Mr. Virendra C. Mayekar 4) Namita J. Mayekar 5) Mrs. Samira P. Mayekar |
Respondent and Advocate
|
1. Hindustan Coca Cola Beverages Private Limited 2) Regional Manager 3) Unit Distribution Manager |
Acts
|
Under Act(s) |
Under Section(s) |
|
Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Act, 2015 |
(12) |
History of Case Hearing
|
Registration Number |
Judge |
Business On Date |
Hearing Date |
Purpose of hearing |
|
31/2017 |
District Judge-1 and Additional Session Judge |
28.09.2017 |
26.10.2017 |
Appearance |
|
31/2017 |
District Judge-1 and Additional Session Judge |
26.10.2017 |
23.11.2017 |
Appearance |
|
31/2017 |
District Judge-1 and Additional Session Judge |
23.11.2017 |
02.01.2018 |
ARGUMENTS ON EXHIBIT |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
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 |
FINANCIAL HIGHLIGHTS:
Pursuant to Ministry of Corporate Affairs notification dated 16th February, 2015 notifying the Companies (Indian Accounting Standard) Rules, 2015, the Company has adopted Indian Accounting Standards (Ind AS) with effect from April 1, 2016. The Company has reported Ind AS Financials for the year ended March 31, 2017 along with comparable as on March 31, 2016 and Opening Statement of Assets and Liabilities as on April 1, 2015.
COMPANY OVERVIEW AND
PERFORMANCE
The Directors are pleased to inform that the Company continued its focus on improving the execution standards, investments in new categories, packaging innovation and capacity to build sustainable growth and gained market share in Sparkling by 0.8% bps (Sources A C Neilson). During the Financial Year 2016-17, the Companys performance declined due to multiple external head-winds. The increase in taxation by the Government of India in the first Quarter of the Financial Year, higher and extended rainfall during monsoon season vs last year and demonetization by the Government of India during the third quarter of the Financial Year impacted the revenue performance.
After providing INR 724.930 Million towards Financial Charges (Previous Year INR 518.800 Million) and INR 4320.420 Million towards depreciation (Previous Year INR 3977.190 Million), the Company has reported loss before tax of INR (2779.880) Million against profit INR 1214.430 Million during the previous Financial Year. Total comprehensive loss for the year INR (2473.820) Million against comprehensive profit of INR 1108.230 Million. The accumulated loss balance in retained earnings as at March 31, 2017 is INR (8693.230) Million (Previous Year accumulated loss of INR (6219.410) million). Further, for the year, Volume declined by 9%.
During the year, INR 2700.000 Million capital was invested to increase capacity across the key categories of Core Sparkling, Juice and Water in the states of Andhra Pradesh, Orissa and Karnataka. In addition to these capital investments in production line, significant investment was also made in installing chilling equipment in the market and at the end of the Financial Year 2016-17, the Company has more than half a million of these assets in the trade.
With the Government focus on digital economy, the Company also signed up an MOU with State Bank of India to enable over 2 million retailers and 5000 distributors to conduct business transactions digitally.
Goods and Services Tax (GST) has been implemented in India effective July 2017. The Company and other trade partners have smoothly transitioned to GST. The Company has proactively ensured compliance to the requirement of the new law, completed the IT system development and built internal capability from future perspective. An internal cross functional team of 100+ associates have conducted awareness programs/ workshops for 4000+ Distributors and Key Customers which have helped them in smooth transition.
The Company is taking every step to bring back growth and profitability with rapid scaling of new pack price architecture across sparkling and juice segments, coupled with marketing and execution efforts.
NEW PRODUCT
DEVELOPMENT
In order to cater to the changing needs and lifestyle of the consumer, the Company continues to invest in several new products.
During the year, an innovative pack Affordable Small Sparkling Pack (ASSP) was launched in key markets of the Country. The Company also launched Minute Maid Litchi and Minute Maid Anar extending the variants of the umbrella brand Minute Maid.
On the journey to be a complete NARTD player, the Company also expanded its presence in Hydration category by launching Aquarius in the fourth Quarter of the Financial Year 2016-17.
Their journey on ensuring availability of quality beverage at affordable price, continued with Splash Bar.
CAPABILITY
DEVELOPMENT PROGRAMS
The Company is committed in the continuous learning and development of its Associates at every level and has been increasingly investing in various global as well as local capability building programs in line with the Talent Management Philosophy of developing Internal Talent through the Assess-Develop-Grow Framework.
In this regard, the Company inaugurated its new Learning Center at Bangalore HCCB GURUKOOL during the last quarter of the Financial Year
2016-17.
The Company continued with the series of local and global learning programs during the Financial Year. These included SPARK (Stimulate Performance and Refresh KOnnect), STEP (Supervisory Training for Excellent Performance), IMPACT (Integrated Management Program for Accelerated Career Transition), EDGE (Engage, Develop, Grow, Excel), LEAP (Leadership Excellence Accelerating Performance), BBS (Bottling Business School) and Bottling Investments Groups AYBS (Achieve The Best Self) which is a 3-day Program for accelerating the development women leaders
FUTURE OUTLOOK
With the outlook remaining positive in India in terms of increasing demand and healthy GDP growth, it gives an immense opportunity for the Company to grow organically and inorganically in line with its Vision and Mission. The Company will continue to invest in building new bottling plant infrastructure for scaling up the manufacturing capacities, expansion of chilling equipment capacity and developing IT and People capabilities.
AWARDS AND
RECOGNITION
- The Company bagged various awards and accolades during the Financial Year 2016-17 mainly for maintaining high quality, safety norms, environment and sustainable growth. Some of them are stated as below:
- The Company’s plants at Chitoor, Ameenpur, Bhopal and Goblej won Greentech Safety Award in Platinum & Gold Category in the presence of Mr. Francis D'Souza, Honble Deputy Chief Minister of Goa;
- The Company’s plant at Khurda and Siliguri Won 3 Star Rating in EOSH Excellence award organized by CII East Region;
- Bhopal Plant won GreenTech Environment Award in Platinum Category;
- Goblej Plant was conferred with FAME Excellence Award 2016 in Environment Protection - (Foundation for Accelerated Mass
- Empowerment, New Delhi);
- Aranya Plant has received recognition in The India Green Manufacturing Challenge (IGMC) Special Gold Category in Sustainability from
- International Research Institute for Manufacturing;
- Ameenpur Plant conferred with Sustainability Award from Frost andSullivan and The Energy Resource Institute (TERI);
CORPORATE INFORMATION
Subject (the Company) is a private company domiciled in India and is incorporated under the provisions of the Companies Act applicable in India. The Company is engaged in manufacturing and distribution of non-alcoholic beverages under the authority of ‘The Coca-Cola Company’, USA and primarily sells its products in India. The Company’s registered office is at B-91, Mayapuri Industrial Area, Phase-I, New Delhi-110064
The Company’s holding company is Hindustan Coca-Cola Holdings Private Limited [HCCH] and ultimate parent is ‘The Coca-Cola Company’.
The financial statements for the year ended March 31, 2017 are approved by Board of Directors and authorized for issue on August 11, 2017.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Redeemable preference shares |
6946.280 |
6449.660 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
Rupee term loans from banks |
4000.000 |
0.000 |
|
Working capital loans from banks |
4694.150 |
931.940 |
|
Total |
15640.43 |
7381.6 |
INDEX
OF CHARGES: NO CHARGES EXIST FOR THE COMPANY
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Sales tax |
262.520 |
253.730 |
|
Excise duty and custom duty |
34.860 |
40.120 |
|
Property cases |
15.070 |
308.920 |
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Office Buildings
- Factory equipments
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer equipments
- Leasehold improvements
- Property, plant and equipment
Intangible assets
- 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 67.22 |
|
|
1 |
INR 90.87 |
|
Euro |
1 |
INR 80.08 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKY |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
RKI |
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.