|
|
|
MIRA INFORM REPORT
|
Report No. : |
509189 |
|
Report Date : |
19.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
MARICO LIMITED (w.e.f
2005) |
|
|
|
|
Formerly Known
As : |
MARICO INDUSTRIES LIMITED (w.e.f 31.10.1989) MARICO FOODS LIMITED |
|
|
|
|
Registered
Office : |
7th Floor, Grande Palladium, 175, CST Road, Kalina,
Santacruz (East), Mumbai – 400098, Maharashtra |
|
Tel. No.: |
91-22-66480480 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2018 |
|
|
|
|
Date of
Incorporation : |
13.10.1988 |
|
|
|
|
Com. Reg. No.: |
11-049208 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 1290.900 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L15140MH1988PLC049208 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0390000370 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM7493G |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Subject manufactures and markets consumer products in India and internationally. It offers coconut oil, hair oils, refined edible oils, anti-lice treatments, fabric care, functional and other processed foods, hair creams and gels, hair serums, shampoos, shower gels, hair relaxers and straighteners, deodorants, and other consumer products and by-products. (Registered activity) |
|
|
|
|
No. of Employees
(As on 31.03.2017): |
1588 (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 87000000 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
"Subject was established in the year 1988 and it is a leading manufacturer of coconut oil, hair oils and premium refined edible oils in consumer packs. The company holds a number of brands including Kaya Limited, Parachute, Saffola, Hair&Care, Nihar, Mediker, Revive, Manjal, Livon, Set Wet, Zatak, Fiancee, HairCode, Eclipse, X-Men, Hercules, Caivil, Code 10 and Black Chic. For the financial year 2018, the company has achieved growth 6.42% in its revenue as compared to previous year revenue but has maintained a healthy profitability margin at 13.86%. Marico's strong market position is underpinned by its market leadership across product categories including branded coconut oil, value-added hair and super-premium refined edible oil. The company has a robust financial risk profile because of a healthy capital structure and strong debt protection metrics. The financial risk profile is likely to remain strong, supported by robust cash accrual and the absence of any significant, debt-funded capital expenditure. Payment seems to be regular and as per commitment. In view of established market position, the company can be considered good for normal business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long-Term Bank Facilities = AA+ |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
10.05.2018 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short-Term Bank Facilities = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
10.05.2018 |
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 19.05.2018
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.:
91-22-66480480
91-22-26732439 (Continuously Ringing)
LOCATIONS
|
Registered Office/ Corporate Office / Head Office : |
7th Floor, Grande Palladium, 175, CST Road, Kalina,
Santacruz (East), Mumbai – 400098, Maharashtra, India |
|
Tel. No.: |
91-22-66480480 |
|
Fax No.: |
91-22-66490114/ 26500159 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Regional Offices : |
Located At:
510 and 511, B Block, 5th Floor, Swapnalok Complex, S. D Road,
Secunderabad-500003, Telangana, India
Plot No. 23/C, Mahal Industrial Estate, Mahakali Caves Road, Land Mark
: Before Paper Box Factory, Opposite Andhra Bank and Travellers Inn
hotel, Andheri (East) Mumbai - 400 093, Maharashtra, India Tel: 91-22-26732439-40, 26732472
Room No 416, 4th floor, Krishna Building, 224 AJC Bose Road, Kolkata
-700017, India
Unit No.: JA 1101, 11th Floor, DLF Tower – “A”, Jasola, Delhi, India |
|
|
|
|
Buying Offices: |
1st Floor, Sunshine Building, 1056, Avinashi Road, Coimbatore, Tamilnadu, India |
|
|
|
|
Factories : |
Located At :
|
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Rajendra Kishore Mariwala |
|
Designation : |
Director |
|
Address : |
2-5, Sudha Kunj, 2nd Floor, 3, Tardeo Road, Tulsiwadi, Hajiali, Mumbai – 400034, Maharashtra, India |
|
Date of Appointment : |
26.07.2005 |
|
DIN No.: |
00007246 |
|
|
|
|
Name : |
Mr. Nikhil Nirvan Khattau |
|
Designation : |
Director |
|
Address : |
Bon Azur, Beachfront Suites And Pent Pointe Aux Biches NA MU |
|
Date of Appointment : |
18.07.2002 |
|
DIN No.: |
00017880 |
|
|
|
|
Name : |
Mr. Nagesh Satyanarayan Basavanhalli |
|
Designation : |
Director |
|
Address : |
81/82, B Wing, Park Plaza, New Yari Road, Andheri (West), Mumbai - 400061, Maharashtra, India |
|
Date of Appointment : |
16.07.2010 |
|
DIN No.: |
00027595 |
|
|
|
|
Name : |
Hema Ravichandar |
|
Designation : |
Director |
|
Address : |
3-C, Moyenville Place, No.18, Moyenville Road, Langford Town, Bangalore - 560025, Karnataka, India |
|
Date of Appointment : |
26.07.2005 |
|
DIN No.: |
00032929 |
|
|
|
|
Name : |
Mr. Rajeev Bakshi |
|
Designation : |
Director |
|
Address : |
House No C-30, 2nd Floor Westend Colony Tularam Marg, South West, Delhi – 110021, India |
|
Date of Appointment : |
17.07.2003 |
|
DIN No.: |
00044621 |
|
|
|
|
Name : |
Mr. Harsh Charandas Mariwala |
|
Designation : |
Director |
|
Address : |
2nd Floor, 7TH On The Hill, Auxilium Convent Road, Rajendra Kumar Chowk, Pali Hill, Bandra (West), Mumbai - 400050, Maharashtra, India |
|
Date of Birth/Age : |
66 years |
|
Qualification : |
Graduate in Commerce from Mumbai University |
|
Date of Appointment : |
13.10.1988 |
|
DIN No.: |
00210342 |
|
|
|
|
Name : |
Mr. Rishabh Harsh Mariwala |
|
Designation : |
Director |
|
Address : |
1st Floor, Seven on Hill, Auxillium Convent Lane, Near
Rajendra Kumar Chowk, Pali Hill Bandra (West), Mumbai – 400050, Maharashtra,
India |
|
Date of Birth/Age : |
35 years |
|
Qualification : |
Graduate from Zarb School of Business, Hofstra University, New York, USA |
|
Date of Appointment : |
02.05.2017 |
|
DIN No.: |
03072284 |
|
|
|
|
Name : |
Saugata Gupta |
|
Designation : |
Managing Director |
|
Address : |
B - 1002, Rustomjee Oriana, MIG Colony Gandhi Nagar, Bandra (East), Mumbai - 400051, Maharashtra, India |
|
Date of Appointment : |
01.04.2014 |
|
DIN No.: |
05251806 |
|
|
|
|
Name : |
Mr. Ananth Sankaranarayanan |
|
Designation : |
Director |
|
Address : |
Villa 155, Adarsh Palm Retreat, Devarabisanalli Bellandur
Post, Bangalore - 560037, Karnataka,
India |
|
Date of Birth/Age : |
40 years |
|
Qualification : |
Bachelor’s degree in Engineering from University of Madras and a Masters from the University of Michigan, in Industrial Engineering and Operations Research. |
|
Date of Appointment : |
26.06.2017 |
|
DIN No.: |
07527676 |
KEY EXECUTIVES
|
Name : |
Mr. Vivek Anant Karve |
|
Designation : |
Chief Financial Officer |
|
Address : |
302, Yashwant Chittaranjan Road, Vile Parle (East), Mumbai - 400057, Maharashtra, India |
|
Date of Appointment : |
01.04.2014 |
|
PAN No.: |
AAFPK1157P |
|
|
|
|
Name : |
Mrs. Hemangi Yateen Ghag |
|
Designation : |
Company Secretary |
|
Address : |
196-B, Panjrapole Building. No.2, Room No.5 Girgaum Gaiwadi, Girgaum, Mumbai - 400004, Maharashtra, India |
|
Date of Appointment : |
30.10.2017 |
|
PAN No.: |
AARPW6933B |
|
|
|
|
Audit Committee: |
|
|
|
|
|
Corporate
Governance Committee |
|
|
|
|
|
Corporate Social Responsibility
Committee |
|
|
|
|
|
Risk Management
Committee |
|
|
|
|
|
Stakeholder
Relationship Committee |
|
|
|
|
|
MANAGEMENT TEAM: |
|
|
Name : |
Mr. Saugata Gupta |
|
Designation : |
Managing Director and CEO |
|
|
|
|
Name : |
Ms. Anuradha Aggarwal |
|
Designation : |
Chief Marketing Officer |
|
|
|
|
Name : |
Mr. Ashish Joshi |
|
Designation : |
Chief Operating Officer- South East Asia, Middle East and Africa Business |
|
|
|
|
Name : |
Mr. Ashutosh Telang |
|
Designation : |
Chief Human Resources Officer |
|
|
|
|
Name : |
Mr. Jitendra Mahajan |
|
Designation : |
Chief Supply Chain Officer |
|
|
|
|
Name : |
Mr. Mukesh Kripalani |
|
Designation : |
Chief Business Process Transformation and IT |
|
|
|
|
Name : |
Mr. Pankaj Saluja |
|
Designation : |
Chief Strategy, M and A and New Business |
|
|
|
|
Name : |
Mr. Sanjay Mishra |
|
Designation : |
Chief Operating Officer - India Sales and Bangladesh Business |
|
|
|
|
Name : |
Dr. Sudhakar Mhaskar |
|
Designation : |
Chief Technology Officer |
|
|
|
|
Name : |
Mr. Suresh M. S. Jagirdar |
|
Designation : |
Chief Legal Counsel |
|
|
|
|
Name : |
Mr. Vivek Karve |
|
Designation : |
Chief Financial Officer |
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 |
|
|
(A) Promoter & Promoter Group |
770730240 |
59.71 |
|
|
(B) Public |
518109488 |
40.14 |
|
|
(C2) Shares held by Employee Trust |
1931470 |
0.15 |
|
|
Grand
Total |
1290771198 |
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 |
||
|
Individuals/Hindu
undivided Family |
750633240 |
58.15 |
|
|
Harsh C Mariwala with Kishore V Mariwala
for Taurus Family Trust |
148465000 |
11.50 |
|
|
Harsh C Mariwala with Kishore V Mariwala for
Gemini Family Trust |
148460600 |
11.50 |
|
|
Harsh C Mariwala with Kishore V Mariwala
for Valentine Family Trust |
148459200 |
11.50 |
|
|
Harsh C Mariwala with Kishore V Mariwala
for Aquarius Family Trust |
148446200 |
11.50 |
|
|
Rajvi H Mariwala |
28408000 |
2.20 |
|
|
Rishabh H Mariwala |
24976500 |
1.94 |
|
|
Archana H Mariwala |
23444100 |
1.82 |
|
|
Harsh C Mariwala |
19862900 |
1.54 |
|
|
Ravindra.K.Mariwala |
13954540 |
1.08 |
|
|
Harshraj C Mariwala (Huf) |
12240000 |
0.95 |
|
|
Hema K Mariwala |
7679480 |
0.59 |
|
|
Anjali R Mariwala |
7414700 |
0.57 |
|
|
Paula R Mariwala |
7189100 |
0.56 |
|
|
Rajen K Mariwala |
5532900 |
0.43 |
|
|
Kishore V Mariwala |
2445220 |
0.19 |
|
|
Pallavi Jaikishan Panchal |
1832000 |
0.14 |
|
|
Malika Chirayu Amin |
1800000 |
0.14 |
|
|
Kishore V Mariwala for Anandita Trust |
5700 |
0.00 |
|
|
Kishore V Mariwala for Arnav Trust |
5700 |
0.00 |
|
|
Kishore V Mariwala for Vibhav Trust |
5700 |
0.00 |
|
|
Kishore V Mariwala for Taarika Trust |
5700 |
0.00 |
|
|
Any Other
(specify) |
18297000 |
1.42 |
|
|
The Bombay Oil Private Limited |
18297000 |
1.42 |
|
|
Sub Total A1 |
768930240 |
59.57 |
|
|
A2) Foreign |
0.00 |
||
|
Individuals
(NonResident Individuals/ Foreign Individuals) |
1800000 |
0.14 |
|
|
Preeti Gautam Shah |
1800000 |
0.14 |
|
|
Sub Total A2 |
1800000 |
0.14 |
|
|
A=A1+A2 |
770730240 |
59.71 |
Statement showing shareholding pattern of the Public
shareholder
|
Category
& Name of the Shareholders |
No.
of fully paid up equity shares held |
Shareholding
% calculated as per SCRR, 1957 As a % of (A+B+C2) |
|
|
B1) Institutions |
0 |
0.00 |
|
|
Mutual Funds/ |
23242456 |
1.80 |
|
|
Alternate
Investment Funds |
656323 |
0.05 |
|
|
Foreign
Portfolio Investors |
358262787 |
27.76 |
|
|
First State Investments Icvc- Stewart
Investors Asia Pacific Leaders Fund |
46995220 |
3.64 |
|
|
Cartica Capital Ltd |
33461547 |
2.59 |
|
|
Arisaig India Fund Limited |
28647339 |
2.22 |
|
|
Kuwait Investment Authority Fund 223 |
15400896 |
1.19 |
|
|
Financial
Institutions/ Banks |
1524033 |
0.12 |
|
|
Insurance
Companies |
50171805 |
3.89 |
|
|
Life Insurance Corporation Of India |
46610722 |
3.61 |
|
|
Sub Total B1 |
433857404 |
33.61 |
|
|
B2) Central
Government/ State Government(s)/ President of India |
0 |
0.00 |
|
|
Central
Government/ State Government(s)/ President of India |
1462051 |
0.11 |
|
|
Sub Total B2 |
1462051 |
0.11 |
|
|
B3)
Non-Institutions |
0 |
0.00 |
|
|
Individual share
capital upto INR 0.200 Million |
39360378 |
3.05 |
|
|
Individual share
capital in excess of INR 0.200 Million |
7713797 |
0.60 |
|
|
Any Other
(specify) |
35715858 |
2.77 |
|
|
Trusts |
102662 |
0.01 |
|
|
Foreign Individuals |
3260 |
0.00 |
|
|
HUF |
1593808 |
0.12 |
|
|
NRI – Non- Repat |
1316381 |
0.10 |
|
|
NRI – Repat |
2410745 |
0.19 |
|
|
Foreign Portfolio Investors (Category III) |
2000 |
0.00 |
|
|
Clearing Members |
415937 |
0.03 |
|
|
Bodies Corporate |
29862936 |
2.31 |
|
|
Prazim Trading And Investment Co. Pvt.
Ltd. |
16372395 |
1.27 |
|
|
INVESTOR EDUCATION AND PROTECTION FUND
AUTHORITY MINISTRY OF CORPORATE AFFAIRS |
8129 |
0.00 |
|
|
Sub Total B3 |
82790033 |
6.41 |
|
|
B=B1+B2+B3 |
518109488 |
40.14 |
BUSINESS DETAILS
|
Line of Business : |
Subject manufactures and markets consumer products in India and internationally. It offers coconut oil, hair oils, refined edible oils, anti-lice treatments, fabric care, functional and other processed foods, hair creams and gels, hair serums, shampoos, shower gels, hair relaxers and straighteners, deodorants, and other consumer products and by-products. (Registered activity) |
||||||
|
|
|
||||||
|
Products / Services
: |
· Coconut Oil · Hair Oils · Refined Edible Oils · Anti-Lice Treatments · Fabric Care · Functional And Other Processed Foods · Hair Creams And Gels · Hair Serums · Shampoos · Shower Gels · Hair Relaxers And Straighteners ·
Deodorants |
||||||
|
|
|
||||||
|
Brand Names : |
|
||||||
|
|
|
||||||
|
Agencies Held : |
Not Divulged |
||||||
|
|
|
||||||
|
Exports : |
Not Divulged |
||||||
|
|
|
||||||
|
Imports : |
Not Divulged |
||||||
|
|
|
||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees (As on 31.03.2017): |
1588 (Approximately) |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers (As on 31.03.2017): |
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
BSR and Company LLP Chartered Accountants |
|
Address : |
5th Floor, Lodha Excelus, Apollo Mills Compound, N.M. Joshi
Marg, Mahalaxmi, Mumbai – 400011, Maharashtra, India |
|
Tel. No.: |
91-22-43455300 |
|
Fax No.: |
91-22-43455399 |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
|
|
|
Internal Auditors : |
Ernst and Young LLP |
|
|
|
|
Cost Auditor : |
Ashwin Solanki and Associates |
|
|
|
|
Secretarial Auditor : |
Dr. K. R. Chandratre |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary
companies (As on 31.03.2017): |
|
|
|
|
|
|
|
|
Post-employment benefit
controlled trust (As on 31.03.2017): |
|
|
|
|
|
Others - Entities
in which above (e) has significant influence and transactions have taken
place (As on 31.03.2017): |
|
CAPITAL STRUCTURE
After 01.08.2017
Authorised Capital: INR 2150.000
Million
Issued, Subscribed & Paid-up Capital: INR 1290.864 Million
As on 31.03.2018
Authorised Capital: Not Available
Issued, Subscribed & Paid-up Capital: INR 1290.900
million
As on 31.03.2017
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000000 |
Equity Shares |
INR 1/- each |
INR 1500.000 Million |
|
6500000 |
Preference Shares |
INR 10/- each |
INR 65.000 Million |
|
|
Total |
|
INR 1565.000
Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1290471198 |
Equity Shares |
INR 1/- each |
INR 1290.500 Million |
|
|
|
|
|
(i) Movements in
equity share capital
|
Particulars |
No of shares |
Equity Share capital |
|
|
INR in Million |
(par value) |
|
As at 1st April, 2015 |
645.000 |
645.000 |
|
Shares issued during the year - ESOP (refer note 33(a)) |
0.100 |
0.100 |
|
Bonus Issue (refer note (v) below) |
645.100 |
645.100 |
|
As at 31st March,
2016 |
1290.200 |
1290.000 |
|
Increase during the year |
|
|
|
Shares issued during the year - ESOP (refer note 33(a)) |
0.300 |
0.300 |
|
As at 31st March,
2017 |
1290.500 |
1290.500 |
(ii) Rights,
preferences and restrictions attached to equity shares
Equity Shares: The Company has one class of equity shares having a par value of Re.1 per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.
(iii) Shares reserved
for issue under options
Information relating to Marico ESOS 2007, Marico ESOS 2014, MD CEO ESOP Plan 2014 and including details of options issued, exercised and lapsed during the financial year and options outstanding at the end of the reporting period, is set out in note 33.
(iv) Details of
shareholders holding more than 5% shares in the company
|
Name of
Shareholder |
As on 31.03.2017 |
|
|
Number
of Shares |
% holding |
|
|
Equity Shares of
Re. 1/- each fully paid-up |
|
|
|
Harsh C Mariwala with Kishore V Mariwala (For Valentine Family Trust) |
148337200 |
11.49 |
|
Harsh C Mariwala with Kishore V Mariwala (For Aquarius Family Trust) |
148338200 |
11.49 |
|
Harsh C Mariwala with Kishore V Mariwala (For Taurus Family Trust) |
148338000 |
11.49 |
|
Harsh C Mariwala with Kishore V Mariwala (For Gemini Family Trust) |
148338100 |
11.49 |
|
First State Investments Services (UK) Ltd (along with Persons acting in concert) |
97225880 |
7.53 |
(v) During the year ended 31st March, 2016, the Company has issued 645,085,599 fully paid-up bonus equity shares of face value Re. 1 each in the ratio of 1:1 with record date of 24th December, 2015. As a result EPS has been adjusted for reporting as well as for all the comparative periods.
|
Aggregate number of shares allotted as
fully paid-up by way of bonus shares |
For the year ended March 31, 2017 |
|
Equity shares allotted as fully paid up bonus shares by capitalization of general reserve |
645085599 |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET - STANDALONE
|
SOURCES
OF FUNDS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1290.900 |
1290.500 |
1290.200 |
|
(b) Reserves & Surplus |
29119.100 |
27937.300 |
24244.900 |
|
(c) Other Reserve |
1.900 |
14.600 |
(152.400) |
|
(d) 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) |
30411.900 |
29242.400 |
25382.700 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
180.500 |
97.500 |
0.000 |
|
(c) Other long term
liabilities |
95.000 |
130.800 |
29.700 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
275.500 |
228.300 |
29.700 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1223.800 |
1083.500 |
258.300 |
|
(b) Trade payables |
5866.500 |
4762.400 |
4847.800 |
|
(c) Other current liabilities |
1849.400 |
1749.400 |
3360.400 |
|
(d) Short-term provisions |
571.800 |
564.100 |
506.400 |
|
Total
Current Liabilities (4) |
9511.500 |
8159.400 |
8972.900 |
|
|
|
|
|
|
TOTAL |
40198.900 |
37630.100 |
34385.300 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4655.500 |
4739.100 |
4361.800 |
|
(ii) Intangible Assets |
201.100 |
215.800 |
233.800 |
|
(iii) Capital work-in-progress |
246.100 |
79.400 |
365.400 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(v) Investment in subsidiaries
and joint venture |
10204.800 |
11056.400 |
10906.900 |
|
(b) Non-current Investments |
602.700 |
809.800 |
413.900 |
|
(c) Deferred tax assets (net) |
303.900 |
221.200 |
545.800 |
|
(d) Long-term Loan and Advances |
37.300 |
37.300 |
37.500 |
|
(e) Other Non-current assets |
602.700 |
438.900 |
784.500 |
|
Total
Non-Current Assets |
16854.100 |
17597.900 |
17649.600 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
4495.600 |
5014.900 |
4387.900 |
|
(b) Inventories |
13131.800 |
10829.600 |
7675.600 |
|
(c) Trade receivables |
2881.500 |
2276.100 |
1921.000 |
|
(d) Cash and cash equivalents |
608.100 |
772.100 |
1401.700 |
|
(e) Short-term loans and
advances |
26.900 |
43.600 |
40.300 |
|
(f) Other current assets |
2200.900 |
1095.900 |
1309.200 |
|
Total
Current Assets |
23344.800 |
20032.200 |
16735.700 |
|
|
|
|
|
|
TOTAL |
40198.900 |
37630.100 |
34385.300 |
PROFIT
& LOSS ACCOUNT - STANDALONE
|
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
51813.200 |
48688.800 |
48679.900 |
|
|
Other Income |
2172.200 |
2618.600 |
1905.600 |
|
|
TOTAL
|
53985.400 |
51307.400 |
50585.500 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
30149.700 |
23471.400 |
24854.600 |
|
|
Purchases of Stock-in-Trade |
734.600 |
1694.400 |
799.500 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
(2216.200) |
(474.400) |
370.600 |
|
|
Excise duty |
109.100 |
181.300 |
71.300 |
|
|
Employees benefits expense |
1971.700 |
2509.200 |
2282.000 |
|
|
Exceptional Items |
1040.000 |
0.000 |
0.000 |
|
|
Other expenses |
11143.700 |
11741.400 |
12010.200 |
|
|
TOTAL |
43703.600 |
39123.300 |
40388.200 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
10281.800 |
12184.100 |
10197.300 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
75.500 |
125.900 |
151.700 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
10206.300 |
12058.200 |
10045.600 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
669.000 |
641.000 |
688.200 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
9537.300 |
11417.200 |
9357.400 |
|
|
|
|
|
|
|
Less |
TAX |
2355.000 |
2990.200 |
2444.800 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
7182.300 |
8427.000 |
6912.600 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
5.58 |
6.55 |
5.37 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Maturities of Long term debt |
NA |
NA |
1785.300 |
|
Cash generated from operations |
NA |
7025.900 |
8280.800 |
|
Net cash flow from operating activity |
NA |
4620.100 |
6290.100 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
20.30 |
17.06 |
14.40 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
17.98 |
21.39 |
25.34 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
69.33 |
69.07 |
68.97 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.78 |
1.13 |
1.33 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
2.01 |
2.42 |
2.06 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.24 |
0.22 |
0.26 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.04 |
0.04 |
0.01 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ Net Worth) |
0.31 |
0.28 |
0.35 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.17 |
0.17 |
0.20 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
136.18 |
96.78 |
67.22 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
13.86 |
17.31 |
14.20 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
17.87 |
22.39 |
20.10 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
23.62 |
28.82 |
27.23 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current Assets / Current Liabilities) |
2.45 |
2.46 |
1.87 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.07 |
1.13 |
1.01 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.76 |
0.78 |
0.74 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.95 |
0.84 |
0.20 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
2.45 |
2.46 |
1.87 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK PRICES
|
Face Value |
INR 1.00/- |
|
Market Value |
INR 310.35/- |
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
1290.200 |
1290.500 |
1290.900 |
|
Reserves & Surplus |
24244.900 |
27937.300 |
29119.100 |
|
Other Reserve |
(152.400) |
14.600 |
1.900 |
|
Net
worth |
25382.700 |
29242.400 |
30411.900 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
0.000 |
0.000 |
|
Short Term borrowings |
258.300 |
1083.500 |
1223.800 |
|
Total
borrowings |
258.300 |
1083.500 |
1223.800 |
|
Debt/Equity
ratio |
0.010 |
0.037 |
0.040 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
48679.900 |
48688.800 |
51813.200 |
|
|
|
0.018 |
6.417 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
48679.900 |
48688.800 |
51813.200 |
|
Profit |
6912.600 |
8427.000 |
7182.300 |
|
|
14.20% |
17.31% |
13.86% |
ABRIDGED
BALANCE SHEET – (CONSOLIDATED)
|
SOURCES
OF FUNDS |
|
31.03.2018 |
31.03.2017 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
1290.500 |
1290.500 |
|
(b) Reserves & Surplus |
|
24474.400 |
22329.900 |
|
c) Other Reserve |
|
(336.600) |
(363.600) |
|
(d) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Non-controlling interests |
|
125.100 |
133.400 |
|
Total
Shareholders’ Funds (1) + (2) |
|
25553.800 |
23390.200 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
198.300 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
|
192.000 |
225.000 |
|
(c) Other long term
liabilities |
|
294.400 |
220.300 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
684.700 |
445.300 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
2894.500 |
2388.000 |
|
(b) Trade payables |
|
8216.500 |
6966.000 |
|
(c) Other current liabilities |
|
2893.600 |
2573.900 |
|
(d) Short-term provisions |
|
571.800 |
564.100 |
|
Total
Current Liabilities (4) |
|
14576.400 |
12492.000 |
|
|
|
|
|
|
TOTAL |
|
40814.900 |
12937.300 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
5344.900 |
5471.900 |
|
(ii) Intangible Assets |
|
604.700 |
280.800 |
|
(iii) Capital work-in-progress |
|
268.200 |
111.600 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(v) Good Will |
|
4858.000 |
4794.500 |
|
(b) Non-current Investments |
|
368.400 |
584.100 |
|
(c) Deferred tax assets (net) |
|
92.400 |
95.400 |
|
(d) Long-term Loan and Advances |
|
41.300 |
37.300 |
|
(e) Other Non-current assets |
|
1302.700 |
802.100 |
|
Total
Non-Current Assets |
|
12880.600 |
12177.700 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
4857.800 |
5335.000 |
|
(b) Inventories |
|
15108.800 |
12534.400 |
|
(c) Trade receivables |
|
3405.600 |
2469.900 |
|
(d) Cash and cash equivalents |
|
2001.200 |
2359.600 |
|
(e) Short-term loans and
advances |
|
43.500 |
61.200 |
|
(f) Other current assets |
|
2517.400 |
1135.000 |
|
Total
Current Assets |
|
27934.300 |
23904.300 |
|
|
|
|
|
|
TOTAL |
|
40814.900 |
35995.200 |
|
|
|
PROFIT
& LOSS ACCOUNT– (CONSOLIDATED)
|
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
|
|
SALES |
|
|
|
|
Income |
63330.900 |
59359.200 |
|
|
Other Income |
846.300 |
973.100 |
|
|
TOTAL
|
64177.200 |
60332.300 |
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
Cost of Materials Consumed |
33716.700 |
27601.600 |
|
|
Purchases of Stock-in-Trade |
1960.100 |
1223.900 |
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(2195.000) |
(566.700) |
|
|
Employees benefits expense |
4222.200 |
4041.800 |
|
|
Excise Duty |
109.100 |
181.300 |
|
|
Exceptional Items |
0.000 |
0.000 |
|
|
Share of net profit/ (loss) of joint ventures accounted
for using the equity method |
1.200 |
10.000 |
|
|
Other expenses |
14140.200 |
15284.600 |
|
|
TOTAL |
51954.500 |
47776.500 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
12222.700 |
12555.800 |
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
161.700 |
165.800 |
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
12061.000 |
12390.000 |
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
890.800 |
903.000 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
11170.200 |
11487.000 |
|
|
|
|
|
|
Less |
TAX |
2895.700 |
3377.300 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
8274.500 |
8109.700 |
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
6.32 |
6.21 |
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 |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
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 |
---- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
BACK GROUND AND
OPERATIONS MARICO LIMITED (“MARICO” OR ‘THE COMPANY’), HEADQUARTERED IN (As on
31.03.207)
Mumbai, Maharashtra, India, carries on business in branded consumer products. Marico manufactures and markets products under the brands such as Parachute, Parachute Advansed, Nihar, Nihar Naturals, Saffola, Hair and Care, Revive, Mediker, Livon, Setwet, etc. Marico’s products reach its consumers through retail outlets serviced by Marico’s distribution network comprising regional offices, carrying and forwarding agents, redistribution centers and distributors spread all over India.
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
A99405300 |
10020050 |
STATE BANK OF INDIA |
31/08/2006 |
02/11/2010 |
- |
2930000000.0 |
CORPORATE ACCOUNTS GROUP BRANCHNEVILLE HOUSE, J. N. HEREDIA MARG, BALLARD ESTATEMUMBAIMH400001IN |
|
2 |
G37803244 |
10294992 |
HSBC Bank (Mauritius) Limited |
30/06/2011 |
25/08/2015 |
20/02/2017 |
2466990000.0 |
HSBC Centre18, CybercityEbeneNA000000MU |
|
3 |
B63107775 |
10075251 |
Standard Chartered Bank |
23/11/2007 |
- |
27/11/2012 |
600000000.0 |
90, M G Road,Fort,MumbaiMH400001IN |
|
4 |
B13398292 |
10172797 |
Axis Trustee Services Limited |
06/08/2009 |
- |
27/05/2011 |
300000000.0 |
MAKER TOWERS 'F', 13TH FLOORCUFFE PARADE, COLABAMUMBAIMH400005IN |
|
5 |
A57053860 |
10124519 |
State Bank of India |
17/09/2008 |
- |
24/02/2009 |
1000000000.0 |
Corporate Accounts Group Central,3rd Floor,State Bank Bhavan,MumbaiMH400021IN |
|
6 |
A13796636 |
80016324 |
CITIBANK NA |
30/05/1996 |
- |
10/04/2007 |
29000000.0 |
SAKHAR BHAVAN7TH FLOOR NARIMAN POINTMUMBAIMH400021IN |
|
7 |
A06900336 |
80016323 |
ANZ GRINDLAYS BANK |
07/08/1996 |
- |
08/11/2006 |
115000000.0 |
90 MAHATMA GANDHI ROADPOST BOX 141MUMBAIMH400001IN |
|
8 |
A05228689 |
80012449 |
STATE BANK OF SAURASHTRA |
18/04/1990 |
15/03/1996 |
27/09/2006 |
110000000.0 |
FORTMUMBAIMH400001IN |
|
9 |
A05227558 |
80012451 |
SATE BANK OF SAURASHTRA |
18/04/1990 |
27/03/1991 |
27/09/2006 |
5000000.0 |
FORTMUMBAIMH400001IN |
|
10 |
A05228226 |
80012452 |
STATE BANK OF SAURASHTRA |
15/03/1996 |
- |
27/09/2006 |
18000000.0 |
FORTMUMBAIMH400001IN |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
|
Disputed tax
demands / claims : |
|
|
|
Sales tax |
NA |
222.600 |
|
Income tax |
NA |
598.900 |
|
Customs duty |
NA |
3.100 |
|
Agricultural produce marketing cess |
NA |
-- |
|
Employees state insurance corporation |
NA |
1.800 |
|
Excise duty on subcontractors |
NA |
5.400 |
|
Service Tax |
NA |
1.700 |
|
Excise duty on CNO dispatches |
NA |
-- |
|
Excise duty on By-Product |
NA |
46.800 |
|
Excise duty on Oats |
NA |
202.300 |
|
Claims against the Company not acknowledged as debts |
NA |
0.800 |
|
Guarantees
excluding financial guarantees: |
|
|
|
Corporate guarantees given to banks on behalf of Broadcast Audience Research Council (BARC) |
NA |
6.000 |
|
Stand by Letter of Credit (SBLC) issued by the Company's banks on behalf of subsidiaries for credit and other facilities granted by banks. (Credit and other facilities availed by the subsidiaries as at the year end - INR 1209.000 Million (INR 1199.500 Million) These SBLC are given for working capital requirement and are generally renewed every year. |
NA |
1368.300 |
FIXED ASSETS (As on 31.03.2017)
- Freehold Land
- Leasehold Land
- Building
- Plant and Equipment
- Furniture and Fixtures
- Vehicles
- Office Equipment
- Leasehold Improvement
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 67.96 |
|
|
1 |
INR 91.88 |
|
Euro |
1 |
INR 80.28 |
INFORMATION DETAILS
|
Information
Gathered by : |
SWT |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
MTN |
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.