|
|
|
MIRA INFORM REPORT
|
Report No. : |
509306 |
|
Report Date : |
18.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
NESTLE INDIA
LIMITED (w.e.f. 24.03.1989) |
|
|
|
|
Formerly Known
As : |
FOOD SPECIALITIES LIMITED |
|
|
|
|
Registered
Office : |
100 / 101, World Trade Centre, Barakhamba Lane, New Delhi - 110001 |
|
Tel. No.: |
91-11-41514444 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2017 |
|
|
|
|
Date of
Incorporation : |
28.03.1959 |
|
|
|
|
Com. Reg. No.: |
55-003786 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 964.200 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L15202DL1959PLC003786 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0588000531 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN0757G |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
The Company is primarily involved in Food business which incorporates product groups viz. Milk Products and Nutrition, Prepared dishes and Cooking aids, Powdered and Liquid Beverages and Confectionery. (Registered activity) |
|
|
|
|
No. of Employees
: |
7527 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A++ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
Maximum Credit Limit : |
USD 97700000 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Nestle India Limited is a subsidiary of Nestle S.A., Switzerland incorporated in the year 1959. The company is engaged in food business which incorporates product group viz. milk products and nutrition, prepared dishes and cooking aids, powdered and liquid beverages and confectionery. The company has following brands- Nestle EveryDay, Nestle Raita, Nestle Milkmaid, Nestle Everday Ghee, Nestle Acti Plus, Nestle a+ Nourish, Nestle a+ slim, Nescafe, Nescafe Classic, Nescafe Sunrise, Nestea, Nescafe Cappauccino, Nescafe Gold, Maggi, Maggi Sauces, Maggi Hot Heads, Maggi Cup-A-Licious, Maggi Chicken noodles, Maggi Oats, Maggi Vegetale Atta noodles, Maggi Cuppa mania, Maggi Bhuna Masala, Maggi Coconut Milk Powder, Maggi Magic Cubes, Maggi Masala-Ae-Magic, Maggi Pazzta, Kitkat, Munch, Kitkat Senses, Alpino, Barone, Milkybar, Nestle Chocolate, Milkybar Choo, Eclairs, Polo, Munch nuts, etc. As per the quarterly results of March 2018, the company has achieved sales turnover of INR 27572.4 million along with fair net profit margin. For the financial year ended December 2017, the company has earned 7.57% growth in its revenue as compared to the previous year’s revenue and has reported a favourable profitability margin of 12.02%. The rating takes into consideration the strong financial position marked by robust net worth base along with negligible debt balance sheet profile and healthy liquidity position. The company has its share price trading at around INR 9573.45 on BSE as on May 14, 2018 as against the Face Value (FV) of INR 1. Business is active. Payment seems to be regular. In view of aforesaid, the company can be considered for business dealings at usual trade term 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 18.05.2018
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 BY
|
Name : |
Mr. Somnath |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-7042732111 |
|
Date : |
14.05.2018 |
LOCATIONS
|
Registered Office : |
100 / 101, World Trade Centre, Barakhamba Lane, New Delhi – 110001, India |
|
Tel. No.: |
91-11-23418891 |
|
Mobile No.: |
91-7042732111 (Mr. Somnath) |
|
Fax No.: |
91-11-23415130 |
|
E-Mail : |
|
|
Website : |
www.nestle.in |
|
|
|
|
Head Office.: |
“Nestlé House” Jacaranda Marg, ‘M’ Block, DLF City, Phase II, Gurugram – 122002, Haryana, India |
|
|
|
|
Branch Sales
Offices.: |
|
|
|
|
|
Factories.: |
|
DIRECTORS
As on 2018
|
Name : |
Rama Bijapurkar |
|
Designation : |
Director |
|
Address : |
8, C-D, Mona Apartments, 46F Bhulabhai Desai Road, Mumbai – 400026, Maharashtra, India |
|
Date of Appointment : |
01.05.2017 |
|
DIN No.: |
00001835 |
|
|
|
|
Name : |
Rajya Vardhan Kanoria |
|
Designation : |
Director |
|
Address : |
A-45, Vasant Marg, Vasant Vihar, New Delhi – 110057, Delhi, India |
|
Date of Appointment : |
13.05.2014 |
|
DIN No.: |
00003792 |
|
|
|
|
Name : |
Shobinder Duggal |
|
Designation : |
Wholetime Director |
|
Address : |
Sivananda Dham, House No. 1820, Sector-17/A, Gurugram – 122001,
Haryana, India |
|
Date of Appointment : |
10.05.2004 |
|
DIN No.: |
00039580 |
|
|
|
|
Name : |
Swati Ajay Piramal |
|
Designation : |
Director |
|
Address : |
61, Piramal House, Pochkhanwala Road, Worli, Mumbai – 400018,
Maharashtra, India |
|
Date of Appointment : |
02.08.2010 |
|
DIN No.: |
00067125 |
|
|
|
|
Name : |
Ashok Kumar Mahindra |
|
Designation : |
Director |
|
Address : |
B-65, Greater Kailash, Part-I, New Delhi – 110048, India |
|
Date of Appointment : |
21.04.2011 |
|
DIN No.: |
00916746 |
|
|
|
|
Name : |
Rakesh Mohan |
|
Designation : |
Additional Director |
|
Address : |
E - 57, Panch Shila Park, New Delhi – 110017, India |
|
Date of Appointment : |
01.05.2016 |
|
DIN No.: |
02790744 |
|
|
|
|
Name : |
Suresh Narayanan |
|
Designation : |
Managing Director |
|
Address : |
Apartment 625 B, Tower 6, 25th Floor, The Magnolias, Golf Course Road,
Gurugram – 122009, Haryana, India |
|
Date of Appointment : |
01.08.2015 |
|
DIN No.: |
07246738 |
|
|
|
|
Name : |
Martin Theo Herman Roemkens |
|
Designation : |
Wholetime Director |
|
Address : |
Flat No. 707A, 7th Floor, DLF Magnolias, Golf Course Road, Gurugram –
122009, Haryana, India |
|
Date of Appointment : |
01.04.2017 |
|
DIN No.: |
07761271 |
KEY EXECUTIVES
|
Name : |
Shobinder Duggal |
|
Designation : |
Chief Financial Officer |
|
Address : |
Sivananda Dham, House No. 1820, Sector-17/A, Gurugram – 122001,
Haryana, India |
|
Date of Appointment : |
10.05.2014 |
|
PAN No.: |
AAAPD3763B |
|
|
|
|
Name : |
Balasubramaniam Murli |
|
Designation : |
Company Secretary |
|
Address : |
A-1/13, Azad Apartments, Aurobindo Marg, New Delhi – 110016, India |
|
Date of Appointment : |
30.01.1998 |
|
PAN No.: |
AAFPM1785K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on March, 2018
|
Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of
shares |
|
|
Promoter and Promoter Group |
60515079 |
62.76 |
|
|
Public |
35900637 |
37.24 |
|
|
Grand Total |
96415716 |
100.00 |
STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PROMOTER AND PROMOTER
GROUP
|
Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of shares |
|
|
A1) Indian |
0.00 |
||
|
A2) Foreign |
0.00 |
||
|
Any Other (specify) |
60515079 |
62.76 |
|
|
Nestle SA |
33051399 |
34.28 |
|
|
Maggi Enterprises Limited |
27463680 |
28.48 |
|
|
Sub Total A2 |
60515079 |
62.76 |
|
|
A=A1+A2 |
60515079 |
62.76 |
STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PUBLIC SHAREHOLDER
|
Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of
shares |
|
|
B1) Institutions |
0 |
0.00 |
|
|
Mutual Funds/ |
2312123 |
2.40 |
|
|
Alternate Investment Funds |
93481 |
0.10 |
|
|
Foreign Portfolio Investors |
11508711 |
11.94 |
|
|
Arisiag India Fund Limited |
1201866 |
1.25 |
|
|
Financial Institutions/ Banks |
99844 |
0.10 |
|
|
Insurance Companies |
5364518 |
5.56 |
|
|
Life Insurance Corporation of India |
4456624 |
4.62 |
|
|
Sub Total B1 |
19378677 |
20.10 |
|
|
B2) Central Government/ State Government(s)/ President of India |
0 |
0.00 |
|
|
Central Government/ State Government(s)/ President of India |
88063 |
0.09 |
|
|
Sub Total B2 |
88063 |
0.09 |
|
|
B3) Non-Institutions |
0 |
0.00 |
|
|
Individual share capital upto INR 0.200 Million |
8779830 |
9.11 |
|
|
Individual share capital in excess of INR 0.200 Million |
3750358 |
3.89 |
|
|
NBFCs registered with RBI |
19094 |
0.02 |
|
|
Any Other (specify) |
3884615 |
4.03 |
|
|
Clearing Members |
113293 |
0.12 |
|
|
Bodies Corporate |
2769455 |
2.87 |
|
|
Overseas Corporate Bodies |
500 |
0.00 |
|
|
Trusts |
85090 |
0.09 |
|
|
HUF |
157502 |
0.16 |
|
|
Non-Resident Indian (NRI) |
668762 |
0.69 |
|
|
IEPF |
90013 |
0.09 |
|
|
Sub Total B3 |
16433897 |
17.04 |
|
|
B=B1+B2+B3 |
35900637 |
37.24 |
BUSINESS DETAILS
|
Line of Business : |
The Company is primarily involved in Food business which incorporates product groups viz. Milk Products and Nutrition, Prepared dishes and Cooking aids, Powdered and Liquid Beverages and Confectionery. (Registered activity) |
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|
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|
Products : |
|
||||||||||
|
|
|
||||||||||
|
Brand Names : |
Not Divulged |
||||||||||
|
|
|
||||||||||
|
Agencies Held : |
Not Divulged |
||||||||||
|
|
|
||||||||||
|
Exports : |
Not Divulged |
||||||||||
|
|
|
||||||||||
|
Imports : |
Not Divulged |
||||||||||
|
|
|
||||||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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|
|
|
||||||||||||||
|
Customers : |
|
||||||||||||||
|
|
|
||||||||||||||
|
No. of Employees : |
7527 (Approximately) |
||||||||||||||
|
|
|
||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
B S R and Co. LLP Chartered Accountants |
|
Address : |
Building No. 10, 8th Floor, Tower – B, DLF Cyber City, Phase – II, Gurugram – 122002, Haryana, India |
|
Tel. No.: |
91-124-7191000 |
|
Fax No.: |
91-124-2358613 |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Companies |
|
|
|
|
|
Fellow subsidiaries
with whom the company had transactions : |
|
CAPITAL STRUCTURE
As on 31.12.2017
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 |
|
|
|
|
|
|
96415716 |
Equity Shares |
INR 10/- each |
INR 964.200
Million |
|
|
|
|
|
Reconciliation of
number of shares and amount outstanding at the beginning and at the end of the
year
|
Shares outstanding as at the beginning of the year |
96415716 |
964.200 |
|
Movement during the year |
-- |
-- |
|
Shares outstanding
as at the end of the year |
96415716 |
964.200 |
Rights, preferences
and restrictions attached to equity shares
The Company has only one class of equity shares with face value of INR 10 each, ranking pari passu.
Equity shares held by
holding companies
|
Nestlé S.A. |
33051399 |
-- |
|
Maggi Enterprises Limited (Ultimate holding company being Nestlé S.A.) |
27463680 |
-- |
Shareholders holding
more than 5% of equity shares
|
Serial No. |
Name of the shareholder |
No. of shares |
% of holding |
|
1 |
Nestlé S.A. |
33051399 |
34.28 |
|
2 |
Maggi Enterprises Limited |
27463680 |
28.48 |
|
3 |
Life Insurance Corporation of India |
4968835 |
5.15 |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
964.200 |
964.200 |
964.200 |
|
(b) Reserves & Surplus |
33241.700 |
31859.100 |
27214.200 |
|
(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) |
34205.900 |
32823.300 |
28178.400 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
351.400 |
331.500 |
167.900 |
|
(b) Deferred tax liabilities
(Net) |
1219.600 |
1553.400 |
1729.300 |
|
(c) Other long term
liabilities |
6.000 |
6.800 |
0.000 |
|
(d) long-term provisions |
22915.900 |
19722.100 |
15971.700 |
|
Total
Non-current Liabilities (3) |
24492.900 |
21613.800 |
17868.900 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
9.400 |
|
(b) Trade payables |
9846.400 |
7991.600 |
7494.100 |
|
(c) Other current liabilities |
4206.100 |
5137.900 |
4659.300 |
|
(d) Short-term provisions |
874.600 |
538.000 |
2653.200 |
|
Total
Current Liabilities (4) |
14927.100 |
13667.500 |
14816.000 |
|
|
|
|
|
|
TOTAL |
73625.900 |
68104.600 |
60863.300 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
26161.800 |
27301.400 |
28978.500 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
941.600 |
1881.700 |
2307.900 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
5852.800 |
4743.100 |
3417.800 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
463.500 |
643.700 |
1304.300 |
|
(e) Other Non-current assets |
832.300 |
706.700 |
0.000 |
|
Total
Non-Current Assets |
34252.000 |
35276.600 |
36008.500 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
13935.900 |
12813.500 |
9831.400 |
|
(b) Inventories |
9024.700 |
9400.600 |
8208.100 |
|
(c) Trade receivables |
889.700 |
979.300 |
784.200 |
|
(d) Cash and cash equivalents |
14574.200 |
8800.000 |
4995.500 |
|
(e) Short-term loans and
advances |
288.000 |
166.000 |
888.400 |
|
(f) Other current assets |
661.400 |
668.600 |
147.200 |
|
Total
Current Assets |
39373.900 |
32828.000 |
24854.800 |
|
|
|
|
|
|
TOTAL |
73625.900 |
68104.600 |
60863.300 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
|
SALES |
|
|
|
|
|
Income |
101921.800 |
94745.700 |
81232.700 |
|
|
Other Income |
1769.200 |
1509.000 |
1621.300 |
|
|
TOTAL
|
103691.000 |
96254.700 |
82854.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
42316.600 |
37750.900 |
33588.700 |
|
|
Purchases of Stock-in-Trade |
1747.600 |
1153.800 |
980.700 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
(795.600) |
(76.600) |
119.700 |
|
|
Excise duty |
1825.800 |
3332.300 |
0.000 |
|
|
Employees benefits expense |
10174.500 |
9015.700 |
9127.500 |
|
|
Exceptional items |
0.000 |
107.800 |
5008.400 |
|
|
Other expenses |
24170.200 |
22954.600 |
21264.300 |
|
|
Impairment loss on property,
plant and equipment |
371.800 |
118.300 |
282.200 |
|
|
Net provision for
contingencies |
|
|
|
|
|
Operations |
383.600 |
418.000 |
333.100 |
|
|
Others |
492.900 |
1266.700 |
301.500 |
|
|
Corporate social
responsibility expense |
269.100 |
313.600 |
206.100 |
|
|
TOTAL |
80956.500 |
76355.100 |
71212.200 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
22734.500 |
19899.600 |
11641.800 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
919.000 |
909.100 |
32.900 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
21815.500 |
18990.500 |
11608.900 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
3422.500 |
3536.700 |
3472.600 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
18393.000 |
15453.800 |
8136.300 |
|
|
|
|
|
|
|
Less |
TAX |
6141.100 |
5440.200 |
2503.600 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
12251.900 |
10013.600 |
5632.700 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
127.07 |
103.86 |
58.42 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
24218.600 |
19688.100 |
14402.800 |
|
Net cash flow from operating activity |
18177.900 |
14659.100 |
10981.000 |
QUARTERLY RESULTS
|
Particulars |
|
|
31.03.2018 |
|
Audited / Unaudited |
|
|
Unaudited |
|
|
|
|
1st Quarter |
|
Net Sales |
|
|
27572.400 |
|
Total Expenditure |
|
|
20603.900 |
|
PBIDT (Excl OI) |
|
|
6968.500 |
|
Other Income |
|
|
564.300 |
|
Operating Profit |
|
|
7532.800 |
|
Interest |
|
|
310.700 |
|
Exceptional Items |
|
|
0.0000 |
|
PBDT |
|
|
7222.100 |
|
Depreciation |
|
|
825.300 |
|
Profit Before Tax |
|
|
6396.800 |
|
Tax |
|
|
2156.500 |
|
Provisions and contingencies |
|
|
NA |
|
Profit After Tax |
|
|
4240.300 |
|
Extraordinary Items |
|
|
NA |
|
Prior Period Expenses |
|
|
NA |
|
Other Adjustments |
|
|
NA |
|
Net Profit |
|
|
4240.300 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
3.19 |
3.77 |
3.52 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
114.56 |
96.75 |
103.59 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
81.56 |
74.98 |
79.13 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
2.52 |
2.12 |
1.42 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.84 |
0.68 |
0.37 |
LEVERAGE RATIOS
|
PARTICULARS |
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.21 |
0.21 |
0.25 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.01 |
0.01 |
0.01 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.44 |
0.42 |
0.53 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.79 |
0.89 |
1.11 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
24.74 |
21.89 |
353.85 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
((PAT / Sales) * 100) |
% |
12.02 |
10.57 |
6.93 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
16.64 |
14.70 |
9.25 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
35.82 |
30.51 |
19.99 |
SOLVENCY RATIOS
|
PARTICULARS |
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
2.64 |
2.40 |
1.68 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
2.03 |
1.71 |
1.12 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.46 |
0.48 |
0.46 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.36 |
0.34 |
0.18 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
2.64 |
2.40 |
1.68 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 10.00/- each |
|
Market Value |
INR 9573.45/- each |
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2015 |
31.12.2016 |
31.12.2017 |
|
|
INR
In Million |
INR
In Million |
INR In
Million |
|
Share Capital |
964.200 |
964.200 |
964.200 |
|
Reserves & Surplus |
27214.200 |
31859.100 |
33241.700 |
|
Net
worth |
28178.400 |
32823.300 |
34205.900 |
|
|
|
|
|
|
Long Term borrowings |
167.900 |
331.500 |
351.400 |
|
Short Term borrowings |
9.400 |
0.000 |
0.000 |
|
Total
borrowings |
177.300 |
331.500 |
351.400 |
|
Debt/Equity
ratio |
0.006 |
0.010 |
0.010 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2015 |
31.12.2016 |
31.12.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
81232.700 |
94745.700 |
101921.800 |
|
|
|
16.635 |
7.574 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2015 |
31.12.2016 |
31.12.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
81232.700 |
94745.700 |
101921.800 |
|
Profit |
5632.700 |
10013.600 |
12251.900 |
|
|
6.93% |
10.57% |
12.02% |
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 |
No |
|
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 |
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 |
CORPORATE INFORMATION
The Company is a company domiciled in India, with its registered office situated at 100/101, World Trade Centre, Barakhamba Lane, New Delhi – 110 001. The Company has been incorporated under the provisions of Indian Companies Act and its equity shares are listed on the BSE Limited in India. The Company is primarily involved in Food business which incorporates product groups viz. Milk Products and Nutrition, Prepared dishes and Cooking aids, Powdered and Liquid Beverages and Confectionery.
AWARDS AND RECOGNITIONS
The Company received awards in various industry platforms in the area of corporate management, marketing, advertising, creativity, digital engagement, packaging, human resource development and social cause. Some awards are listed below:
• Forbes India Leadership award for the best CEO from an MNC was given to Mr. Suresh Narayanan. The Forbes India Leadership Awards recognizes outstanding leaders who have achieved success through their vision, foresight, and business ethics.
• MAGGI’s strong resurgence was also reflected in Brand Equity’s Most Trusted Brand Survey 2017, where MAGGI gained 9 spots and was ranked 16 amongst all consumer brands, across all categories. MAGGI was ranked 3rd under foods category.
• SABRE Asia Pacific is considered one of the most credible platforms that awards companies for their work in the area of communications. The Company won Gold, under the foods and beverages category.
• ADFEST showcases Asia’s best creative work by experts in various disciplines. This is a creative festival of repute. The Company won 2 Gold and 1 Silver for the best use of radio channel, promotion and activation and best user generated content for the #StayStarted campaign by NESCAFÉ.
• ABBYs is one of the most distinguished Indian creative advertising platforms that awarded the Company 2 Gold, 6 Silver and 1 Bronze for the campaign #EducateTheGirlChild. NESCAFÉ won 2 Silver for the MTV labs and #StayStarted RJ Rishi campaign. MAGGI HOT HEADS received 1 Silver in the radio category for the ‘Missing Mirchi’ Campaign.
• The Company was recognized as the “Radio Advertiser of The Year” at the Golden Mikes 2017, where MAGGI HOT HEADS bagged 6 awards for “Finding Mirchi” campaign. Golden Mikes celebrates the best work in radio advertising in India and recognizes the contribution of the brands in the growth of radio in the country.
• At the Indian Digital Media Awards that celebrates excellent work by brands in the digital and social media space, KITKAT won a gold in the best use of a social network category for the “Twitter takes a break with KITKAT” Campaign. #EducateTheGirlChild also bagged a silver for the best-integrated media campaign for a social cause.
• The Company through #EducateTheGirlChild Campaign partnered with The Times of India to launch a highly innovative communication campaign called ‘Power Of Print’, where leading communication agencies created inspirational messages on sending more girls to school.
• Continuing on its path to innovation, MAGGI HOT HEADS launched first of its kind Twitter campaign #UntrendLikeHotHeads. The campaign resulted in massive online engagement with over 13 million impressions, 28,000 hashtag mentions and over 800 entries in just three days. It broke multiple benchmarks of campaign engagement and awareness both globally and in Asia Pacific.
• The Company was awarded the ‘India Star 2017’, for excellence in packaging for ALPINO Gift Pack and NESCAFÉ Latte 3 in 1 cup, INSTA Filter Can and NAN EXCELLA PRO carton.
• The Tata Strategic Management Group presented the Company with the Global Logistics Excellence award.
• The Company bagged CII’s SCALE national award for supply chain and logistics excellence for being the most innovative and digital supply chain.
UNSECURED LOAN
|
Unsecured Loan |
31.12.2017 (INR
in Million) |
31.12.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Deferred VAT
liabilities |
|
|
|
State of Karnataka |
204.200 |
204.200 |
|
State of Himachal Pradesh |
147.200 |
127.300 |
|
|
|
|
|
Total |
351.400 |
331.500 |
|
Note : (1) Interest free, repayable after 10 years from the date of disbursement in 10 equal annual installments commencing from year 2024. (2) Interest free, repayable after 8 years from the year of deferment commencing from year 2021. |
||
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTH ENDED 31ST DECEMBER, 2017
(INR
in Million)
|
|
|
Particulars |
|
|
31.03.2018 (Three Months Ended) |
|
1 |
|
Income from
Operations |
|
|
|
|
|
|
Sales/Income from Operations (Gross) |
|
|
27572.400 |
|
|
|
b) Other Operating Income |
|
|
564.300 |
|
|
Total Income from
Operations (Net) |
|
|
28136.700 |
|
|
2 |
Expenses |
|
|
|
|
|
|
a) |
Cost of Materials consumed |
|
|
11160.600 |
|
|
b) |
Purchase of Stock-in-trade |
|
|
512.300 |
|
|
c) |
Excise duty on sales |
|
|
0.000 |
|
|
d) |
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
|
|
(396.000) |
|
|
e) |
Employee benefit expenses |
|
|
2689.900 |
|
|
f) |
Finance Costs |
|
|
310.700 |
|
|
g) |
Depreciation and amortization expense |
|
|
825.300 |
|
|
h) |
Other expenses |
|
|
6405.700 |
|
|
|
Net provision for
contingencies |
|
|
|
|
|
i) |
Operations |
|
|
150.600 |
|
|
j) |
Others |
|
|
0.000 |
|
|
|
Corporate social
responsibility expense |
|
|
80.800 |
|
|
Total Expenses |
|
|
21739.900 |
|
|
|
|
|
|
|
|
|
3 |
Profit before Tax |
|
|
6396.800 |
|
|
4 |
Tax Expense |
|
|
2156.500 |
|
|
5 |
Net Profit for the
period after tax |
|
|
4240.300 |
|
|
|
|
|
|
|
|
|
6 |
Other Comprehensive Income |
|
|
|
|
|
|
Items that will not be
reclassified to profit or loss |
|
|
|
|
|
|
Re-measurement
of retiral defined benefits plans |
|
|
(89.900) |
|
|
|
Changes
taxes relating to items that will not be reclassified to profit or loss |
|
|
(100.000) |
|
|
|
Income tax related
to items that
will not be reclassified to profit or loss |
|
|
31.300 |
|
|
|
Other Comprehensive Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
Items that will be classified to profit or loss |
|
|
(35.100) |
|
|
|
Income tax related to items that will be reclassified to profit or loss |
|
|
12.200 |
|
|
|
Total
Other Comprehensive Income |
|
|
(181.500) |
|
|
|
Total
Comprehensive Income |
|
|
4058.800 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
43.98 |
|
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
100115845 |
PUNJAB NATIONAL BANK |
07/11/1997 |
- |
- |
500000000.0 |
Janpath, New Delhi – 110001, India |
|
|
2 |
100116690 |
PUNJAB NATIONAL BANK |
13/02/1997 |
- |
- |
250000000.0 |
Janpath, New Delhi – 110001, India |
|
|
3 |
G42012351 |
80002665 |
Citi Bank N.A. |
31/12/1992 |
28/03/2017 |
- |
3900000000.0 |
Jeevan Vihar, 3 Sansad Marg, New Delhi – 110001, India |
|
4 |
100116691 |
PUNJAB NATIONAL BANK |
20/12/1988 |
- |
- |
353894400.0 |
Janpath, New Delhi – 110001, India |
CONTINGENT LIABILITIES:
(INR in million)
|
PARTICULARS |
31.12.2017 |
31.12.2016 |
|
Claims against the
Company not acknowledged as debts: |
|
|
|
Indirect Taxes |
11.700 |
11.700 |
FIXED ASSETS
- Freehold land
- Leasehold land
- Buildings
- Plant and machinery
- Furniture and fixtures
- Office equipment
- IT equipment
- Vehicles
PRESS RELEASE
NESTLE
INDIA TO START SELLING PACKAGED BREAKFAST CEREALS
May 09, 2018
Nestle India says
that it will start selling Nestle Breakfast Cereals from Cereal Partners
Worldwide, a joint
venture with American
firm General Mills Inc.
New Delhi: Nestlé India Ltd, the maker of Maggi instant noodles, now wants to sell packaged breakfast cereals in India, a market where the majority of the 1.3 billion people still prefer a home-cooked breakfast.
The India unit of Swiss food company Nestlé SA. said in a statement on Wednesday that it will start selling Nestlé Breakfast Cereals from Cereal Partners Worldwide (CPW), a joint venture between Nestle SA and American firm General Mills Inc., in India this year.
The Nestlé India board approved the proposal on Wednesday.
“We firmly believe breakfast is the most important meal of the day. We also believe eating a nutritious breakfast sets the tone for the rest of the day and acts as the foundation for a healthier future. The consumer need for breakfast choices is only growing and companies need to bring more options to satisfy this need. We are therefore pleased to be introducing Nestlé Breakfast Cereals in India. This business complements our current portfolio by combining our expertise in food and this category, globally,” Suresh Narayanan, chairman and managing director, Nestlé India, said in a statement.
India’s breakfast cereal market is projected to touch INR 26100.000 Million by 2020, according to market research firm Euromonitor International. The market grew 24% in 2015 to INR 14400.000 Million.
According to Euromonitor, US-based Kellogg dominated India’s packaged breakfast cereal market with a 37% share (value terms) in 2015.
PepsiCo India Holdings Pvt. Ltd, the local unit of American food and beverage maker PepsiCo Inc., had a 13.3% share (value), up from 9.5% in 2010, added Euromonitor.
PepsiCo, for the past few years, has been trying to sell Indian food items in a ready-to-cook packaged form. In March 2017, it had launched ready-to-cook idli, dosa, upma and khichdi, hoping to get more Indians to eat packaged breakfast.
But Nestlé will face a challenge from other firms in the breakfast category.
In the past few years, a bunch of multinational and home-grown firms—including Bagrry’s India, Marico Ltd, ITC Ltd, MTR Foods and Dr Oetkers—have made inroads into the breakfast market with products such as muesli, oats, ready-to-cook packets for dosa, idli, uttapam and dhokla as consumer demand rises for healthier, ready-to-cook breakfast.
NESTLE ASKED TO DEPOSIT GST RATE CUT GAINS IN CONSUMER
WELFARE FUND
8 May 2018
Nestle India Ltd. today said it has been asked by the National Anti-Profiteering Authority to provisionally deposit the sum computed by the company gained from the reduction in the Goods and Services Tax rate in the Consumers Welfare Fund.
While it did not disclose the amount set aside, the company said in a regulatory filing that it has taken appropriate measures to pass on commensurate benefits of GST to consumers and will continue to do so.
Nestle India said it had a discussion with the authority even as it was in the process of taking the next step to pass on the benefits to consumers.
“At the company’s request, the authority through its communication has advised us to provisionally deposit the amount computed by us, suo moto, in the Consumer Welfare Fund to be constituted under Central GST and furnish the necessary documents,” the company added.
Last year on Nov. 15, the government had slashed GST rates on 178 items, including FMCG items, from 28 percent to 18 percent and asked the companies to pass on the benefits to consumers.
Nestle India said: “In situations where the benefit could not be passed on instantly by reduction in MRP or increase in grammage, the amount was set aside to be subsequently passed on and was not reckoned either in sales or in profit”.
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 67.38 |
|
|
1 |
INR 91.39 |
|
Euro |
1 |
INR 79.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
KJL |
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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.