MIRA
INFORM REPORT
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Report Date : |
14.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
ANJANI PORTLAND CEMENT LIMITED |
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Registered Office : |
Sitha
Nilayam", 153, Dwarakapuri Colony, Punjagutta, Hyderabad – 500082. |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
17.12.1983 |
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Com. Reg. No.: |
4323 |
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CIN No.: [Company
Identification No.] |
L26942AP1983PLC004323 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDA01742G |
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PAN No.: [Permanent
Account No.] |
AACCA8115F |
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Legal Form : |
Public Limited Liability Company. The Company Shares are listed on
Stock Exchange. |
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Line of Business : |
Manufacturer of Cement. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 1170860 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established and reputed company having satisfactory
track. Trade relations are fair. Business is active. Payments are reported as
usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office / Head Office : |
Sitha
Nilayam", 153, Dwarakapuri Colony, Punjagutta, Hyderabad – 500082. |
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Tel. No.: |
91-40-23353096 / 23353106 |
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Fax No.: |
91-40-23353093 |
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E-Mail : |
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Websites; |
www.anjanicement.com |
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Factory 1 : |
Anjanipuram",
Gudimalkapur
Post, Mellachuruvu Mandal, Nalgonda Dist - 508 246, Andhra Pradesh, India |
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Tel. No.: |
91-8683-230168 |
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Fax No.: |
91-8683-230165 |
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Factory 2 : |
Chintalapalem Village, Mellacheruvu ,
Mandalam, Nalgonda Dsitrict – 508 246, Andhra Pradesh, India |
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Sales Office : |
C/o. Fresh Choice |
DIRECTORS
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Name : |
Mr. K V Vishnu Raju |
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Designation : |
Director |
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Name : |
Mr. P V R L Narasimha Raju |
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Designation : |
Director |
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Name : |
Mrs. Vanitha Datla |
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Designation : |
Director |
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Name : |
Mr. R Kunjithpatham |
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Designation : |
Director |
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Name : |
Mr. V V Rama Raju |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mr. S V Kanaka Seshu |
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Designation : |
APIDC Nominee |
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Name : |
Mr. S N Raju |
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Designation : |
Vice President |
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Name : |
Mr. Gandhi Raju |
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Designation : |
Chief General Manager (Marketing) |
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Name : |
Mr. P Sitharama Raju |
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Designation : |
Senior General Manager (Mechanical) |
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Name : |
Mr. P Rajendra Babu |
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Designation : |
General Manager (Finance) and Company Secretary |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Cement. |
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Products : |
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PRODUCTION STATUS (as on 31.03.2007):-
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Particulars |
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Unit |
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Licensed Capacity |
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TPA |
400000 |
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Installed Capacity |
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TPA |
297000 |
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Actual Production |
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TPA |
297000 |
GENERAL
INFORMATION
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Bankers : |
· State Bank of India · Punjab National Bank · Indian Overseas Bank · State Bank of Hyderabad |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
M/s M Anandam and Company Chartered Accountants |
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Address : |
7 ‘A’, Surya Towers, S P Road, Secunderabad – 500 003, India |
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Associates/Subsidiaries : |
· Vennar Ceramics Limited · Vanitha Finance and Investments Private Limited |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
14% Cumulative Redeemable Preference Shares |
Rs. 10/- each |
Rs. 10.000 millions |
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20000000 |
Equity Shares |
Rs. 10/- each |
Rs.200.000 millions |
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Total |
Rs.210.000
millions |
Issued Capital :
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No. of Shares |
Type |
Value |
Amount |
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18394463 |
Equity Shares |
Rs. 10/-
each |
Rs.183.944 millions |
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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18389597 |
Equity Shares |
Rs. 10/-
each |
Rs.183.895
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
183.895 |
183.896 |
183.900 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
108.820 |
5.312 |
5.100 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
292.715 |
189.208 |
189.000 |
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LOAN FUNDS |
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1] Secured Loans |
227.274 |
102.879 |
125.500 |
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2] Unsecured Loans |
138.175 |
174.852 |
122.400 |
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TOTAL BORROWING |
365.449 |
277.731 |
247.900 |
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DEFERRED TAX LIABILITIES |
0.340 |
0.551 |
0.000 |
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TOTAL |
658.504 |
467.490 |
436.900 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
449.728 |
318.455 |
318.800 |
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Capital work-in-progress |
0.000 |
0.000 |
3.600 |
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INVESTMENT |
44.699 |
44.699 |
44.700 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
104.188
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59.016 |
55.400 |
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Sundry Debtors |
57.828
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59.896 |
48.300 |
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Cash & Bank Balances |
3.650
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3.530 |
3.800 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
132.138
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46.766 |
29.500 |
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Total
Current Assets |
297.804
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169.208 |
137.000 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
98.184
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66.687 |
70.000 |
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Provisions |
35.543
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0.066 |
0.100 |
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Total
Current Liabilities |
133.727
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66.753 |
70.100 |
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Net Current Assets |
164.077
|
102.455 |
66.900 |
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MISCELLANEOUS EXPENSES |
0.000 |
1.881 |
2.900 |
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TOTAL |
658.504 |
467.490 |
436.900 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
672.469 |
367.563 |
483.300 |
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Other Income |
2.123 |
0.637 |
0.400 |
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Total Income |
674.592 |
368.200 |
483.700 |
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Profit/(Loss) Before Tax |
125.378 |
1.103 |
1.200 |
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Provision for Taxation |
0.356 |
0.934 |
0.100 |
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Profit/(Loss) After Tax |
125.022 |
0.169 |
1.100 |
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Expenditures : |
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Manufacturing Expenses |
413.536 |
273.508 |
0.000 |
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Selling & Administrative Expenses |
64.632 |
21.756 |
22.300 |
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Raw Material Consumed |
0.000 |
0.000 |
44.300 |
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Excise Duty |
0.000 |
0.000 |
113.100 |
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Other Manufacturing Expenses |
0.000 |
0.000 |
48.300 |
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Increase/(Decrease) in Finished Goods |
[16.284] |
0.100 |
0.000 |
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Salaries, Wages, Bonus, etc. |
26.115 |
19.158 |
17.100 |
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Interest |
36.395 |
29.200 |
31.600 |
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Power & Fuel |
0.000 |
0.000 |
177.100 |
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Depreciation & Amortization |
22.808 |
21.502 |
21.500 |
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Other Expenditure |
1.881 |
0.967 |
5.600 |
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Total Expenditure |
549.083 |
366.191 |
480.900 |
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QUARTERLY RESULTS
|
Year |
30.06.2007 |
30.09.2007 |
31.12.2007 |
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Type
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1st
Quarter |
2nd
Quarter |
3rdQuarter |
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Sales Turnover |
309.700 |
278.200 |
230.800 |
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Other Income |
0.000 |
0.300 |
0.100 |
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Total Income |
309.700 |
278.500 |
230.900 |
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Total Expenditure |
217.400 |
211.400 |
147.300 |
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Operating Profit |
92.300 |
67.100 |
83.600 |
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Interest |
15.200 |
17.500 |
18.700 |
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Gross Profit |
77.100 |
49.600 |
64.900 |
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Depreciation |
6.700 |
6.800 |
8.500 |
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Tax |
11.200 |
15.500 |
5.300 |
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Reported PAT |
59.200 |
27.000 |
51.100 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
18.53
|
0.04 |
0.23 |
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Net Profit Margin (PBT/Sales) |
(%) |
18.64
|
0.30 |
0.25 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
16.77
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0.23 |
0.26 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.43
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0.00 |
0.00 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.71
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1.82 |
1.68 |
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Current Ratio (Current Asset/Current Liability) |
|
2.27
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2.53 |
1.95 |
LOCAL AGENCY
FURTHER INFORMATION
DIRECTOR REPORTS:
Review of Operations
The management inform that the plant performance was good during year under review. The Company has achieved a record production of 297000 M.T. of cement compared to previous year's cement production of 215613 M.T. The Company registered a surge in sales volume of 335473 M.T. of cement and clinker, showing an increase of 24.88% compared to previous year sale of 268627 M.T.
There has been a continuous emphasis on reduction and control of costs and
enhancement of volumes. The Company is in the process of continually increasing
the capacities by modernization and upgradation. Balancing equipment and
pollution reduction equipment have been installed to increase capacities and to
reduce pollution. The Company believes in achieving significant growth in volumes
and turnover and diversifying it's risks in the coming years.
In line with their modernization and diversification plans, the Company has
acquired a grinding unit in an open auction conducted by A.P.I.D.C. This
acquisition will augment the Company's grinding capacity.
The Company is also in the process of acquiring M/s. Hitech Print Systems
Limited, a modern Security Press situated at Vijayawada as a wholly owned
subsidiary. M/s. Hitech Print Systems Limited, is a profit making and dividend
paying Company and is in the business of printing Security Documents and
Business Forms.
Future outlook:
Globalization of the Indian economy has thrownup new challenges and opportunities for the Indian Cement Industry. Globally, India has retained it's 2nd position in cement production, though percapita consumption has reached 115 Kgs., as against the world average of 250 Kgs. The capacity utilisation in the industry during the fiscal 2006-2007 has touched 94% and cement despatches have crossed an all time high of 155 Million M.T. The continued emphasis on infrastructure development by the Government and the Private sector coupled with a good growth in G.D.P. will continue to create a demand for cement and the Management is confident of increasing it's sales volumes and profit margins in the years to come.
MANAGEMENT DISCUSSION
AND ANALYSIS
Industry Structure
and Development:
India is one of the major producers of Cement. The demand
for Cement is largely based on infrastructure projects like Roads and Buildings,
Ports etc. The Government of India and State Governments have taken various
steps to promote industrial growth besides implementing major irrigation
projects, housing sector, airports, etc. The cost of the raw material and fuel
namely limestone, coal and power are all controlled by the Government
authorities and any increase in the price of the above affects the cost of
production on which the Company does not have any control.
Opportunities and Challenges:
In order to meet the competitive market situation all round efforts including expansion (for economies of scale) cost reduction techniques and market driven pricing strategy have been adopted.
Segment Wise Performance:
The company's main business activity is manufacturing of Cement which falls in a single segment.
Outlook:
There is a phenomenal growth in consumption of cement. The Government is
focusing on infrastructure development like express highways and other large
irrigation projects. There is also an increase in Export Market. The buoyancy
in Housing Sector shall also facilitate to improve the demand further.
Discussion on
Financial Performance with respect to Operation Performance:
The financial performance with respect of operation of the Company is discussed below:
The sales and other income were at Rs.891.394 millions as against Rs. 516.293 millions in the previous year. The profit before tax of the Company was Rs. 125.378 millions as compared to Rs. 1.103 millions in the previous year. The net profit for the year was Rs. 125.023 millions against Rs. 0.170 millions in the previous year.
FIXED ASSETS:
· Freehold Land and Site Development
· Leased Land
· Building
· Plant and Machinery
· Vehicles
· Office Equipments
· Furniture and Fixtures
WEBSITE DETAILS:
Company Profile:
Anjani Cement exemplifies
a turn-around case of a non-operating unit into a healthy dividend paying
company within a short span of 7 years. The company was incorporated in 1983 as
Shez Cement Limited. The new Management headed by Sri K.V.Vishnu Raju took over
the company, changed the name to Anjani Portland Cement Limited and commenced
maiden operations in the year 1999.
The plant is located at Chintalapalem Village, which is 18 Kms., from the
National Highway No.5 near Jaggaiahpet in Nalgonda District of Andhra Pradesh.
This 600 T.P.D. Rotary Kiln plant with technical know-how from Nihon Cement
Company of Japan has the distinction of being one of the most modern plants in
the mini cement sector of the country. The “State of the art” machinery
includes a 5 Stage Suspension Pre-heater and a Rotary Kiln with Precalcinator.
Today the plant is running above the rated capacity and is producing
approximately 3.00 Lakh Tons of cement per annum.
Corporate Mile
Stone :-
|
Year |
Highlights |
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1999-2000 |
Commenced commercial
production after take-over of Management and changed name to Anjani Portland
Cement Limited. |
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2000-2001 |
Acquired
M/s.Vennar Ceramics Limited, a gas based power generating company to cater to
60% of power requirement. |
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2001-2002 |
Installation of
secondary crusher. |
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2002-2003 |
Introduction of
Anjani Mix. |
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2003-2004 |
Introduction of High Efficiency Cyclones, Telescopic Burners and |
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2004-2005 |
Calciner modification was done to improve production |
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2005-2006 |
Installed cement
mill to increase cement grinding capacity |
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2006-2007 |
Installation of High Efficiency Fan for Kiln gases. |
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2007-2008 |
Installation of
R.A.B.H. and Distribution Control System. |
Vennar Ceramics
Limited
Vennar Ceramics
Limited (VCL) was established in the year 1998 and became a wholly owned subsidiary
of Anjani Portland Cement Limited in the year 2001. The plant is located at
Perikigudem Village of Mandavalli Mandal in Krishna District. The Company has
the distinction of being the First Gas-Based Power Generating Plant in India
with a capacity of 2.7 Megawatts. The 3000 K.W. rated Engine has been sourced
from Wartsila of Sweden and the Generator from A.B.B., France. VCL believes in
green technology and therefore by generating power from gas will not pollute
the environment as other conventional sources do. The Company caters to about
55% of the power requirement of the parent plant
Hitech print
systems limited
Incorporated in the
year 1986, Hitech Print Systems Limited ., (HPS) has been in the business of
providing high quality secure printing solutions. The Company has been acquired
by Anjani Portland Cement Limited in the current financial year (2007) as a
wholly owned subsidiary. The plant is located at Peddaavutupalli Village in
Krishna District, about 6 Kms., from the Vijayawada Airport. The Company’s
primary business has been, printing Business Forms, Security Documents,
Onserts, OMR and ICR Forms, etc.,. Hitech is ISO 9000 certified and is approved
by I.B.A. for security printing for the last 19 years. Hitech has the
distinction of being the First Company to Introduce Variable Data Printing in
1997.
Anjani 53 Grade OPC
is a high quality cement prepared from the finest raw material Owing to optimum
water demand, it contributes to a very low co-efficient of permeability of the concrete
prepared. This improves the density of the concrete matrix and increases the
durability of the concrete. OPC is high performance cement far exceeding the
codal requirement of IS 12269-1987.
It is this very durability that translates
into long-lasting residential and commercial constructions of a wide variety,
such as dams, canals, highways, roads and flyovers.
Anjani 53 Grade OPC- Strong cement for durable constructions
· Higher compressive strength
· Better soundness
· Faster deshuttering of form work
· Reduced construction time
Quality Parameters
of Anjani 53 Grade Cement
|
Test |
Anjani |
BIS |
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FINENESS |
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SOUNDNESS |
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SETTING TIME |
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|
COMMPRESSIVE STRENGTH MPa |
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CHEMICAL REQUIREMENTS |
0.8-1.0 |
Not more than 4% |
Anjani Gold OPC 43 Grade
Quality
Parameters Of Anjani43 Grade Cement
|
Test |
Anjani |
BIS |
|
FINENESS |
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|
SOUNDNESS |
|
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|
SETTING TIME |
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|
COMMPRESSIVE STRENGTH MPa |
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CHEMICAL REQUIREMENTS |
0.8-2.0 |
Not more than 5% |
The eco-friendly
and user friendly cement.
Anjani Gold Cement has
been developed in response to today's need for environment friendly products
that are cost effective, durable and have minimal by-products.
Durability is a
very important property in concrete. And durability here means concrete that
withstands the entire life span of structures like homes and residences that
are lifetime investments. Since distress of concrete and early failure of
structures is a common phenomenon, research over a period of time helped
develop various remedial measures that improved durability and cost economics.
One of them being blended Ordinary Portland Cement (OPC), with complementary
pozzolanic and cementitious materials like fly ash, blast furnace slag, rise
husk, etc. and Anjani Gold is a fine example of it.
Factors that make Anjani
Gold Cement more durable
Lower heat of
hydration
The heat of
hydration of Anjani Gold is lower at early stages as compares to ordinary and
rapid hardening cement. Thus preventing irreversible cracks caused by thermal
stresses at the early stages.
Increased bulk
volume
Anjani Gold Cement
gives more cement volume per bag as compare to ordinary cement because the
specific gravity of Anjani Gold is much lower than portland cement.
Improved water
tightness
Since the fly ash
gel pores in Anjani Gold become narrowed by hydration of fly ash, it offers
greater resistance to aggressive chemicals in the environment. It has minimum
segregation and bleeding, much lower when compared with other Portland
pozzolana cements.
Improved
Corrosion resistance
As movement of
corrosion causing soluble chlorides is restricted, corrosion of reinforcement
steel is reduced by using Anjani Gold Cement.
Increased
ultimate Strength
Anjani Gold Cement
is produced by blending high quality fly ash with a very high quality clinker.
This provides very high compressive strength for 28 days. Additionally, Anjani
Gold gains strength for 60 days, slowly and consistently, as against 14 days by
ordinary cement helping constructions gain in durability.
Increased
compressive Strength
Anjani Gold Cement
improves durability of the concrete /mortar in cases of mass construction and
enhances long term gain of compressive strengths.
For the benefit
of customers
Concrete in its
early stages is tender and weak. This is the stage when it is more likely to
develop cracks that can never be rectified. Pay extra attention to curing, as
it imparts the structure long term high strength.
Fine examples of
blended Portland cement
A 72 storey office
building measuring 1,75,000 sq.mtrs. was built way back in 1986 in Dallas,
Texas, USA using fly ash concrete of 83 MPa(strength). The world's tallest
building, the Petronas Towers, measuring 452 mtrs, in Kuala Lumpur, Malaysia,
was built using 20% fly ash in cement. The modern miracle, the under sea Euro Tunnel,
owes its 120 years guaranteed life to blended cement.
The world uses it.
Experts recommend it. There are fine standing testimonies of its strength and
durability.
|
Quality
Parameters Of Anjani PPC Gold Cement |
||
|
Test |
Anjani |
BISI 489 - |
|
FINENESS |
|
|
|
SOUNDNESS |
|
|
|
SETTING TIME |
|
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|
COMMPRESSIVE STRENGTH MPa |
|
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|
CHEMICAL REQUIREMENTS |
1 |
Not more than 5% |
UN-AUDITED FINANCIAL RESULTS(PROVISIONAL)
FOR THE THREE MONTHS ENDED 31ST DECEMBER,
2007
|
SI No |
Particulars |
Three |
Three |
Nine |
Nine |
Previous |
|
|
31.12.2007 |
31.12.2006 |
31.12.2007 |
31.12.2006 |
31.3.2007 |
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|
|
|
(1) |
(2) |
(3) |
(4) |
(5) |
|
|
1. |
Gross Sales /
Income from Operations |
304.286 |
202.709 |
892.231 |
596.396 |
889.271 |
|
|
Less : Duties
& Taxes |
73.509 |
54.157 |
205.605 |
142.416 |
216.801 |
||
|
Net Sales /
Income from Operations |
230.777 |
148.552 |
686.626 |
453.980 |
672.470 |
||
|
2. |
Other Income |
0.107 |
0.277 |
0.398 |
0.998 |
2.123 |
|
|
3. |
Total Income |
230.884 |
148.829 |
687.024 |
454.978 |
674.593 |
|
|
4. |
Expenditure |
||||||
|
|
a. |
Increase/decrease
in stock in trade and work in progress |
(2.280) |
(14.174) |
2.368 |
(17.710) |
(16.284) |
|
|
b. |
Consumption of Materials |
48.036 |
39.684 |
150.880 |
114.128 |
189.036 |
|
|
c. |
Purchase of
Traded goods |
--- |
--- |
--- |
--- |
--- |
|
|
d. |
Power & Fuel |
53.583 |
58.155 |
168.251 |
152.217 |
207.487 |
|
|
e. |
Employees Cost |
13.507 |
5.406 |
31.851 |
17.259 |
26.115 |
|
|
f. |
Depreciation |
8.498 |
5.320 |
22.007 |
16.220 |
22.809 |
|
|
g. |
Other expenditure |
34.482 |
15.573 |
90.700 |
52.844 |
83.656 |
|
|
|
Total
Expenditure |
155.826 |
109.964 |
466.057 |
334.958 |
512.819 |
|
5. |
Interest |
18.708 |
7.780 |
51.440 |
25.353 |
36.396 |
|
|
6. |
Exceptional items |
--- |
--- |
--- |
--- |
--- |
|
|
7. |
Profit from
Ordinary Activities before tax |
56.350 |
31.085 |
169.527 |
94.667 |
125.378 |
|
|
8. |
Tax expenses |
5.295 |
0.315 |
32.303 |
8.949 |
0.356 |
|
|
9. |
Net Profit
from Ordinary Activities after tax |
51.055 |
30.770 |
137.224 |
85.718 |
125.022 |
|
|
10. |
Extraordinary
items (net of tax expense) |
--- |
--- |
--- |
--- |
--- |
|
|
11. |
Net Profit for
the period |
51.055 |
30.770 |
137.224 |
85.718 |
125.022 |
|
|
12. |
Paid-up equity
share capital (face Value of Rs. 10/- each) |
183.895 |
183.895 |
183.895 |
183.895 |
183.895 |
|
|
13. |
Reserves
excluding Revaluation Reserves as per balance sheet of previous accounting
year |
--- |
--- |
--- |
--- |
108.820 |
|
|
14. |
Earnings Per
Share (EPS) |
||||||
|
a. |
Basic and diluted
EPS before Extraordinary items for the period, for the year to date and for
the previous year (not to be annualised). |
0.278 |
0.167 |
0.746 |
0.466 |
0.680 |
|
|
b. |
Basic and diluted
EPS after Extraordinary items for the period, for the year to date and for
the previous year (not to be annualised). |
0.278 |
0.167 |
0.746 |
0.466 |
0.680 |
|
|
15. |
Public
shareholding No.of Shares |
7105445 |
7109245 |
7105445 |
7109245 |
7109245 |
|
|
16. |
Percentage of
shareholding |
1838.95 |
1838.95 |
1838.95 |
1838.95 |
1838.95 |
|
SUMMARISED CONSOLIDATED FINANCIAL
INFORMATION FOR THE QUARTER
AND NINE MONTHS PERIOD ENDED 31 st DECEMBER 2007
|
SI No |
Particulars |
FOR THE QUARTER ENDED
Rs. in millions |
|||
|
31.12.2007 |
31.12.2007 |
31.12.2007 |
31.12.2007 |
||
|
Anjani Portland Cement
Limited |
Vennar Ceramics Limited |
Hitech Print Systems Limited
|
Anjani Portland Cement Limited |
||
|
|
|
Standalone |
Subsidiary |
Subsidiary |
Consolidated |
|
1. |
GROSS SALES |
56.350 |
37.674 |
37.674 |
352.403 |
|
2. |
TOTAL EXPENDITURE |
247.936 |
9.263 |
35.301 |
292.500 |
|
3. |
PROFIT BEFORE TAX |
56.350 |
1.180 |
2.373 |
59.903 |
|
4. |
PROFIT AFTER TAX |
51.055 |
1.180 |
2.373 |
54.608 |
|
5. |
EARNING SHARE |
|
|
|
0.297 |
|
SI No |
Particulars |
FOR THE NINE MONTHS
ENDED
Rs. in millions |
|||
|
31.12.2007 |
31.12.2007 |
31.12.2007 |
31.12.2007 |
||
|
Anjani Portland Cement Limited |
Vennar Ceramics Limited |
Hitech Print Systems Limited |
Anjani
Portland Cement Limited |
||
|
|
|
Standalone |
Subsidiary |
Subsidiary |
Consolidated |
|
1. |
GROSS SALES |
892.231 |
28.082 |
118.873 |
1039.186 |
|
2. |
TOTAL EXPENDITURE |
722.704 |
28.741 |
100.157 |
851.602 |
|
3. |
PROFIT BEFORE TAX |
169.527 |
(0.659) |
18.716 |
187.584 |
|
4. |
PROFIT AFTER TAX |
137.224 |
(0.659) |
17.488 |
154.053 |
|
5. |
EARNING SHARE |
|
|
|
0.838 |
AUDITED FINANCIAL RESULT FOR THE YEAR /
QUARTER ENDED 31 ST MARCH 2007
|
SI |
Particulars |
9 months ended |
Quarter
Ended |
Year ended |
||
|
(Rs. in millions) |
||||||
|
31.12.2006 |
31.03.2007 |
31.03.2006 |
31.03.2007 |
31.03.2006 |
||
|
|
|
(1) |
(2) |
(3) |
(4) |
(5) |
|
1. |
Sales / Business
Income |
596.396 |
292.875 |
154.752 |
889.271 |
515.655 |
|
2. |
Other Income |
0.998 |
1.25 |
0.487 |
2.123 |
0.638 |
|
|
Total Income |
597.394 |
294.00 |
155.239 |
891.394 |
516.293 |
|
3. |
(Increase) /
Decrease in stock |
(17.710) |
1.26 |
4.300 |
(16.284) |
0.100 |
|
4. |
Consumption of
Raw Materials |
75.097 |
52.552 |
13.984 |
127.649 |
53.409 |
|
5. |
Power & Fuel |
152.217 |
55.270 |
39.438 |
207.487 |
171.501 |
|
6. |
Duties &
Taxes |
142.416 |
74.385 |
46.065 |
216.801 |
148.091 |
|
7. |
Staff Cost |
17.259 |
8.856 |
5.686 |
26.115 |
19.158 |
|
8. |
Other Expenditure |
91.875 |
53.168 |
3.264 |
145.043 |
72.228 |
|
|
Total
Expenditure |
461.154 |
245.657 |
112.737 |
706.811 |
464.487 |
|
9. |
Interest |
25.353 |
11.043 |
10.876 |
36.396 |
29.200 |
|
10. |
Depreciation |
16.220 |
6.589 |
5.309 |
22.809 |
21.503 |
|
11. |
Profit / (Loss)
before Tax |
94.667 |
30.711 |
26.076 |
125.378 |
1.103 |
|
12. |
Provision for
Taxation |
10.593 |
3.435 |
0.066 |
14.028 |
0.066 |
|
Mat Credit
Entitlement |
0.000 |
(14.094) |
0.000 |
(14.094) |
0.000 |
|
|
Tax for Previous
Years |
0.000 |
0.154 |
0.000 |
0.154 |
0.000 |
|
|
Deferred Tax
(Asset) Liability |
(1.900) |
1.689 |
0.551 |
(0.211) |
0.551 |
|
|
Fringe Benefit
Tax |
0.256 |
0.223 |
0.140 |
0.479 |
0.316 |
|
|
13. |
Net Profit /
(Loss) |
85.718 |
39.304 |
25.319 |
125.022 |
0.170 |
|
14. |
Paid-up Equity
Share Capital (Face value Rs. 10/- per share) |
183.895 |
183.895 |
183.895 |
183.895 |
183.895 |
|
15. |
Reserves
Excluding Revaluation Reserves |
- |
- |
- |
108.820 |
5.312 |
|
16. |
Basic & Diluted
EPS (not annualised) in Rs. |
0.466 |
0.214 |
0.138 |
0.680 |
0.001 |
|
17. |
Aggregate of
Public Shareholding |
|||||
|
-Number of Shares |
7109245 |
7109245 |
7101234 |
7109245 |
7101234 |
|
|
-Percentage of
Shareholding |
38.66 |
38.66 |
38.62 |
38.66 |
38.62 |
|
Notes:
The segment results
are not applicable as the company’s main business activity falls within a
single segment.
In terms of Listing
Agreement, details of Investors complaints for the quarter ended 31-03-2007: beginning:
Nil, received and disposed off:1, and pending: Nil
The Board of
Directors has recommended payment of Dividend at Rs. 1.00 per share for the
year ended 31st March, 2007, subject to the approval of share holders.
The above results
were reviewed by the Audit Committee and approved at the meeting of the Board
of Directors held on 11th May, 2007.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts, India Prisons Service, Interpol, etc.
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.39.65 |
|
UK Pound |
1 |
Rs.77.84 |
|
Euro |
1 |
Rs.57.78 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
YES |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|