-137664%2005-Apr-2011_files/image002.jpg){kind=small}
1. Summary Information
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Country |
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Company Name |
SHRIRAM BIOSEED
GENETICS INDIA LIMITED (AMALGAMATED WITH DCM SHRIRAM CONSOLIDATED LIMITED) |
Principal Name 1 |
Mr. Ajay S Shriram |
|
Status |
Good |
Principal Name 2 |
Mr. Vikram S Shriram |
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|
Registration # |
-- |
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Street Address |
5th
Floor, |
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Established Date |
06.02.1989 |
SIC Code |
-- |
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Telephone# |
91-11-23316801 |
Business Style 1 |
Manufacturer |
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Fax # |
91-11-23318072 |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
Fertilisers |
|
# of employees |
-- |
Product Name 2 |
Cement |
|
Paid up capital |
Rs.333,400,000/- |
Product Name 3 |
Ammonia |
|
Shareholders |
Promoters and promoters
Group-56.64 % Public Shareholding:
43.36% |
Banking |
Punjab National Bank |
|
Public Limited Corp. |
YES |
Business Period |
2 years |
|
IPO |
YES |
International Ins. |
- |
|
Public |
YES |
Rating |
A
(66) |
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Related
Company |
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Relation
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Country
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Company
Name |
CEO |
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Subsidiaries |
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Bioseed
India Limited |
- |
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Note |
- |
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2. Summary
Financial Statement
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Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
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Assets |
Liabilities |
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Current Assets |
6,387,800,000 |
Current Liabilities |
6,604,900,000 |
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Inventories |
7,625,300,000 |
Long-term Liabilities |
13,740,800,000
|
|
Fixed Assets |
20,111,500,000 |
Other Liabilities |
1,758,900,000 |
|
Deferred Assets |
-- |
Total Liabilities |
22,104,600,000 |
|
Invest& other Assets |
853,600,000 |
Retained Earnings |
12,540,200,000 |
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|
|
Net Worth |
12,873,600,000 |
|
Total Assets |
34,978,200,000 |
Total Liab. & Equity |
34,978,200,000 |
|
Total Assets (Previous Year) |
38,921,900,000 |
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|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
34,020,700,000 |
Net Profit |
712,800,000 |
|
Sales(Previous yr) |
33,907,800,000 |
Net Profit(Prev.yr) |
1,017,900,000 |
MIRA
INFORM REPORT
|
Report Date : |
05.04.2011 |
Note: SHRIRAM BIOSEED GENETICS INDIA LIMITED HAS BEEN AMALGAMATED WITH DCM SHRIRAM
CONSOLIDATED LIMITED.
IDENTIFICATION DETAILS
|
Name : |
DCM SHRIRAM CONSOLIDATED LIMITED SHRIRAM BIOSEED GENETICS INDIA LIMITED (AMALGAMATED WITH DCM SHRIRAM
CONSOLIDATED LIMITED) |
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Formerly Known
as: |
FINPRO SOLUTIONS PRIVATE LIMITED |
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Registered
Office : |
5th Floor, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
06.02.1989 |
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Com. Reg. No.: |
55-34923 |
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CIN No.: [Company Identification
No.] |
L74899DL1989PLC034923 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELD04602D /
DELD08433F |
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PAN No.: [Permanent Account No.] |
AAACD0097R |
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Legal Form : |
A Public Limited Liability Company. The company’s shares are listed on
stock exchange. |
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Line of Business
: |
The company is
engaged in manufacturing of Fertilisers, Urea, Ammonia, Cement, Caustic Soda,
Chlorine, HCI, PAC, SBP, Hydrochloric Acid, Calcium Carbide, PVC Resin,
Textile Products, Sugar and Energy Management Services. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
|
Maximum Credit Limit : |
USD 51000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established a reputed company having fine track.
Financial position of the company appears to be sound. Trade relations are reported
as fair. Business is active. Payments are reported to be regular and as per
commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office/ Corporate Office : |
5th Floor, |
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Tel. No.: |
91-11-23316801 |
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Fax No.: |
91-11-23318072/ 23357803 |
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E-Mail : |
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Market Office : |
·
Kirti
Mahal, 19, Tel. No.
91-11-25713442/25722296 Fax. No.
91-11-25768135 ·
Shivaji
Marg, Tel. No. 91-11-25104410/25747836 Fax. No.
91-11-25455362/25739816 ·
5th
Floor, Tel. No.
91-11-23316801-9 Fax. No.
91-11-23318072 ·
Shivaji
Marg, Tel. No.
91-11-25104410/25747836 Fax. No.
91-11-25455362/25739816 |
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Sales Office : |
Located At : Mumbai Kolkata Chennai Jaipur Sriganganagar |
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Factory 1 : |
Shriram
Fertilizers and Chemicals Shriram Nagar, Kota-324004, |
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Factory 2 : |
Shriram Alkali
and Chemicals 749, GIDC Industrial Estate, District Bharuch, |
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Factory 3 : |
DSCL Sugar Village Ajbadpur, P.O. Munder, District Hardoi-241123, |
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Factory 4 : |
DSCL Sugar Village Loni, P.O. Anjhi Shahbad, District Hardoi-241124, |
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Factory 5 : |
DSCL Sugar Village and P O Hariwan, District Hardoi-241405, |
DIRECTORS
As on 31.03.2010
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Name : |
Mr. Ajay S Shriram |
|
Designation : |
Chairman and Senior Managing Director |
|
Address: |
'SHIVAM', A 37, Vasant Marg, Vasant Vihar, New Delhl-110
057, |
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Date of Birth/Age: |
04.03.1954 |
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Date of Appointment: |
24.07.1989 |
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Name : |
Mr. Vikram S Shriram |
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Designation : |
Vice Chairman and Managing Director |
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Address: |
5/16, Shanti Niketan,
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Date of Birth/Age: |
06.12.1958 |
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Date of Appointment: |
22.05.1990 |
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Name : |
Mr. Rajiv Sinha |
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Designation : |
Deputy Managing Director |
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Address: |
A-14/14, Ground Floor, Vasant Vihar, |
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Date of Birth/Age: |
05.06.1950 |
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Date of Appointment: |
01.11 1998 |
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Name : |
Mr. Ajit S Shriram |
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Designation : |
Director (Sugar) |
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Address: |
5/20, Shanti Niketan, New Delhl-110021, |
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Date of Birth/Age: |
03.10.1967 |
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Date of Appointment: |
02.05.2001 |
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Name : |
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Designation : |
Whole Time Director (EHS) |
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Address: |
A-22, Mahaveer Nagar-II, |
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Date of Birth/Age: |
29.11.1953 |
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Date of Appointment: |
20.11.2007 |
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Name : |
Dr. Satguru Sharan Baijal |
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Designation : |
Director |
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Address: |
B 4 Sector 30, Gautam Budh Nagar, Noida - 210303 |
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Date of Birth/Age: |
06.09.1929 |
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Date of Appointment: |
22.05.1990 |
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Name : |
Mr. Arun Bharat Ram |
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Designation : |
Director |
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Address: |
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Date of Birth/Age: |
15.11.1940 |
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Date of Appointment: |
22.05.1990 |
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Name : |
Mr. Pradeep Dinodia |
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Designation : |
Director |
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Address: |
A-9-A, Maharani Bagh, |
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Date of Birth/Age: |
15.11.1940 |
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Date of Appointment: |
22.05.1990 |
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Name : |
Mr. Vimal Bhandari |
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Designation : |
Director |
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Address: |
Flat N0.164. 16th Floor, |
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Date of Birth/Age: |
23.08.1958 |
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Date of Appointment: |
13.05.2003 |
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Name : |
Mr. Sunil Kant Munjal |
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Designation : |
Director |
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Address: |
l-A, Friends, Colony (West), |
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Date of Birth/Age: |
14.12.1957 |
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Date of Appointment: |
13.05.2003 |
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Name : |
Mr. D Sengupta |
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Designation : |
Director |
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Address: |
Sector-B, Pocket, 8, Flat N0.6145, Vasant Kunj, |
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Date of Birth/Age: |
20.06.1942 |
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Date of Appointment: |
11.08.2003 |
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Name : |
Mr. S C Bhargava |
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Designation : |
LIC Nominee |
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Address: |
1305, 6-Wing, 13th Floor, Dostl Aster (Dosti Acre), IHP Compound, 0ff S.M. Road, Wadala (East), Mumbai – 110052, Maharashtra, India |
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Date of Birth/Age: |
20.07.1945 |
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Date of Appointment: |
11.08.2004 |
KEY EXECUTIVES
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Name : |
Mr. B L Sachdeva |
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Designation : |
Company Secretary |
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Audit Committee : |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2010
|
Names of Shareholders |
Total
No. of Shares |
Total
Shareholding as a % of total No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
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3,913,800 |
2.36 |
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90,074,297 |
54.29 |
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93,988,097 |
56.65 |
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Total shareholding of Promoter and Promoter Group (A) |
93,988,097 |
56.65 |
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(B) Public Shareholding |
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7,430,378 |
4.48 |
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66,740 |
0.04 |
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17,959,007 |
10.82 |
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2,086,236 |
1.26 |
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27,542,361 |
16.60 |
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4,240,061 |
2.56 |
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|
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19,841,472 |
11.96 |
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4,434,932 |
2.67 |
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|
15,856,397 |
9.56 |
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|
750,847 |
0.45 |
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|
15,105,550 |
9.11 |
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|
44,372,862 |
26.75 |
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Total Public shareholding (B) |
71,915,223 |
43.35 |
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Total (A)+(B) |
165,903,320 |
100.00 |
-137664%2005-Apr-2011_files/image004.gif){kind=small}
(1) Indian-137664%2005-Apr-2011_files/image005.gif){kind=small}
Individuals / Hindu Undivided Family-137664%2005-Apr-2011_files/image006.gif){kind=small}
Individual shareholders holding nominal
share capital up to Rs.0.100 Million BUSINESS DETAILS
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Line of Business : |
The company is
engaged in manufacturing of Fertilisers, Urea, Ammonia, Cement, Caustic Soda,
Chlorine, HCI, PAC, SBP, Hydrochloric Acid, Calcium Carbide, PVC Resin,
Textile Products, Sugar and Energy Management Services. |
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Products : |
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GENERAL INFORMATION
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Bankers : |
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Facilities : |
Note: 1. Short term working capital borrowings from Banks: i) Loans from banks on cash credit account of Rs. 24.100 Millions (2008-2009 - Rs. 1142.100 Millions ) are
secured by first charge on whole of the current assets of the Company, both
present and future. These loans are further secured by a third charge by way
of mortgage/hypothecation of all the immovable/movable properties (other than
current assets) of the Company's undertakings at ii) Short Term Loan of Rs. Nil (2008-2009- Rs. 434.900 Millions ) from
a bank is secured by 6.65% Fertiliser Companies GDI Special Bonds 2023, by
way of Repo transactions. iii) Short Term Loan of Rs. 1350.000 Millions (2008-2009: Rs. Nil) are secured by first
charge on whole of the current assets of the Company, both present and future
and a third charge by way of mortgage/hypothecation of all the
immovable/movable properties (other than current assets) of the Company's
undertakings at Kota in Rajasthan and Ajbapur, Rupapur, Loni and Hariawan in
Uttar Pradesh. 2. Other loans: (i) Term loans of Rs. 1366.100 Millions (2008-2009- Rs. 1420.800 Millions ) from
banks are secured by way of first pari passu mortgage/charge created on
immovable/movable fixed assets, both present and future, term loan of Rs.
90.000 Millions (2008-2009 - Rs.
120.000 Millions ) from others is secured by way of first pari passu mortgage
on immovable properties and first charge by way of hypothecation of all
movables (save and except book debts), both present and future, subject to
prior charges created in favour of the Company's bankers on the current
assets for securing working capital borrowings, and term loan of Rs. 1123.000
Millions (2008-2009 Rs. 1267.100
Millions ) from others is secured by way of first pari passu mortgage/charge
created/to be created on immovable and movable assets (excluding current
assets), both present and future and a second charge ranking pari passu on
the current assets, both present and future of the Company's undertakings at
Jhagadia, Distt Bharuch, Gujarat. (Rs. 97.800 Millions due within a year; 2008-2009- Rs. 79.500
Millions) (ii) Term loans of Rs. 1056.400 Millions (2008-2009- Rs. 1258.500 Millions ) from
banks are secured by way of first pari passu mortgage/charge created on
immovable/movable fixed assets both present and future, term loan of Rs.
135.000 Millions (2008-2009- Rs.
180.000 Millions ) from others is secured by way of first pari passu mortgage
on immovable properties and first charge by way of hypothecation of all
movables (save and except book debts), both present and future, subject to
prior charges created in favour of the Company's bankers on the current
assets for securing working capital borrowings, and term loans of Rs. 2111.200
Millions (2008-2009 Rs. 2584.800
Millions ) from others are secured by way of first pari passu mortgage/charge
created on immovable and movable assets (excluding current assets), both
present and future and a second charge ranking pari passu on the current
assets, both present and future of the Company's undertakings at Kota,
Rajasthan. (Rs. 379.800 Millions due
within a year; 2008-2009- Rs. 413.900 Millions ). (iii) Term loan of Rs. Nil (2008-2009- Rs. 13.200 Millions ) from a
bank is secured by way of first mortgage, ranking pari passu, on
immovable/movable fixed assets, both present and future, pertaining to the
Company's Ajbapur Sugar Complex and Rupapur Sugar Complex, Uttar Pradesh,
(Rs. Nil due within a year; 2008-2009- Rs. 13.200 Millions ). (iv) Term loan of Rs. Nil (2008-2009- Rs. 333.300 Millions ) from a
bank is secured by way of first pari passu mortgage/ charge created on
immovable/movable fixed assets, both present and future, term loans of Rs.
696.000 Millions (2008-09: Rs. 943.700
Millions ) from banks are secured by way of first pari passu mortgage/charge
created on immovable/movable assets and book debts, both present and future,
subject to any prior charges created in favour of the Company's bankers on
the current assets for securing working capital borrowings and term loans of
Rs. 372.300 Millions (2008-2009 Rs.
422.900 Millions ) from others are secured by way of a exclusive second
charge on movable assets (save and except book debts) both present and
future, pertaining to the Company's Ajbapur Sugar Complex, Uttar Pradesh.
(Rs. 230.200 Millions due within a
year; 2008-2009- Rs. 314.700 Millions ) (v) Term loan of Rs. 898.400 Millions
(2008-2009- Rs. 1013.600 Millions ) from a bank is secured by way of
first mortgage/ charge created on immovable/movable assets, both present and
future, subject to prior charges created in favour of Company's bankers on
current assets for securing working capital borrowings, term loan of Rs.
73.200 Millions (2008-2009- Rs. 75.000
Millions ) from a bank is secured by way of first pari passu mortgage/charge
created on immovable/movable fixed assets, both present and future,
pertaining to the Company's Loni Sugar Complex, Uttar Pradesh. (Rs. 3.600
Millions due within a year; 2008-2009- Rs. 1.800 Millions.) (vi) Term loan of Rs. 696.000 Millions
(2008-2009- Rs. 943.700 Millions ) from a bank is secured by way of
first pari passu mortgage/charge created on immovable/movable assets and book
debts, both present and future, subject to any prior charges created in
favour of the Company's bankers on the current assets for securing working
capital borrowings, term loan of Rs. 73.200 Millions (2008-09: Rs. 75.000 Millions ) from a bank
is secured by way of first pari passu mortgage/charge created on
immovable/movable fixed assets both present and future and term loan of Rs.
257.000 Millions (2008-2009- Rs.
334.500 Millions ) from others is
secured by way of first pari passu mortgage/charge created on
immovable/movable assets (excluding current assets) both present and future,
and a second charge ranking pari passu on the current assets, both present
and future and term loans of Rs. 164.100 Millions (2008-2009- Rs. Nil ) from others are
secured by way of a exclusive second charge on movable assets (save and
except book debts) both present and future, pertaining to the Company's
Hariawan Sugar Complex, Uttar Pradesh. (Rs. 242.000 Millions due within a year; 2008-2009- Rs. 256.100
Millions ) (vii) Term loan of Rs. Nil (2008-2009- Rs. 302.500 Millions ) from a
bank is secured by way of first mortgage/charge created on immovable/movable
fixed assets, both present and future, and term loans of Rs. 142.400
Millions (2008- 2009- Rs. Nil) from
others are secured by way of a exclusive second charge on movable assets
(save and except book debts) both present and future, pertaining to the
Company's Rupapur Sugar Complex, Uttar Pradesh. (Rs. Nil due within a year;
2008-2009- Rs. 151.200 Millions ) (viii) Term loan of Rs. 517.200 Millions (2008-2009: Rs. 564.300 Millions ) from a bank is secured by way of residual
mortgage/charge created on immovable/movable fixed assets, both present and
future pertaining to all the four sugar units of the Company, i.e. Ajbapur
Sugar Complex, Uttar Pradesh, Rupapur Sugar Complex, Uttar Pradesh, Hariawan
Sugar Complex, Uttar Pradesh and Loni Sugar Complex, Uttar Pradesh. (Rs.
282.200 Millions due within a year;
2008-2009- Rs. 47.000 Millions ) (ix) Term Loan of Rs. 137.200 Millions
(2008-2009: Rs 137.200 Millions ) from a bank secured by way of
equitable mortgage of Land/Building, both present and future, of SBM unit of
the Company at Tonk, Rajasthan. (Rs. 17.100 Millions due within a year: 2008-2009- Rs. Nil) (x) Term loan of Rs. 124.300 Millions
(2008-2009: Rs. Nil) from others are secured by way of Bank, Guarantee
which in turn is secured by first charge on whole of the current assets of
the company, both present and future and a third charge by way of
mortgage/hypothecation of all the immovable/movable properties (other than
current assets) of the Company's undertakings at Kota in Rajasthan and
Ajbapur, Rupapur, Loni and Hariawan in Uttar Pradesh. (Rs. 31.100
Millions due within a year; 2008-2009-
Rs. Nil) |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountant |
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Address : |
7TH FLOOR, TOWER B, BUILDING 10, DLF CYBER CITY COMPLEX, |
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Memberships : |
Confederation of
Indian Industry |
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Subsidiaries: |
DCM Shriram
Credit And Investment Limited CIN No.: U65993DL1992PLC049517 DCM Shriram Aqua
Foods Limited CIN No.: U05004DL1993PLC156164 Bioseed India
Limited CIN No.: U01112DL1992PLC047825 DCM Shriram
Infrastructure Limited CIN No.: U18101DL1996PLC078732 DCM Shriram
Thermal Energy Limited CIN No.: U40102DL2006PLC154623 DCM Shriram
Energy and Infrastructure Limited CIN No.: U40109DL2007PLC165632 DCM Shriram Hydro Energy Limited CIN No.: U45207DL2008PLC180959 Hariyali Rural Ventures Limited. CIN No.: U51909DL2007PLC171615 Hariyali Rural Foundation CIN No.: U65923DL2007NPL170953 Hariyali India Limited CIN No.: U74140DL2008PLC177281 Hariyali Insurance Broking Limited CIN No.: U74120DL2008PLC186193 Shriram Bioseed ( |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
249950000 |
Equity Shares |
Rs. 2/- each |
Rs.499.900 Millions |
|
6501000 |
Cumulative Redeemable Preference Shares |
Rs. 100/- each |
Rs.650.100 Millions |
|
|
Total |
|
Rs.1150.000
Millions |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
169803320 |
Equity Shares |
Rs. 2/- each |
Rs.339.600
Millions |
Subscribed and Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
165903320 |
Equity Shares |
Rs. 2/- each |
Rs.331.800
Millions |
|
Add: |
Forfeited Shares – Amount originally paid up |
|
Rs.1.600
Millions |
|
|
Total |
|
Rs.333.400 Millions |
NOTES:
Of the issued, subscribed and paid-up capital,
- 2,87,75,380
equity shares of Rs. 2 each represent the equity shares issued on October
9, 1990 to the members of undivided DCM Limited in the ratio of one share for
every four shares held by the members in undivided DCM Limited, in terms
of the Scheme of Arrangement effective from April 1, 1990, without payment
being received in cash.
- 8,29,51,660
equity shares of Rs. 2 each fully paid up were allotted and issued as
bonus shares by capitalisation of Capital Redemption Reserve.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
333.400 |
333.400 |
333.400 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
12540.200 |
11982.500 |
11119.900 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
12873.600 |
12315.900 |
11453.300 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
11407.100 |
13567.100 |
12342.100 |
|
|
2] Unsecured Loans |
2333.700 |
6049.100 |
5237.000 |
|
|
TOTAL BORROWING |
13740.800 |
19616.200 |
17579.100 |
|
|
DEFERRED TAX LIABILITIES |
1758.900 |
1439.400 |
1712.000 |
|
|
|
|
|
|
|
|
TOTAL |
28373.300 |
33371.500 |
30744.400 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
20111.500 |
21118.600 |
16938.400 |
|
|
Capital work-in-progress |
265.100 |
285.200 |
2703.600 |
|
|
|
|
|
|
|
|
INVESTMENT |
588.500 |
556.300 |
546.400 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
7625.300
|
7453.200
|
7830.600 |
|
|
Sundry Debtors |
1884.200
|
3395.400
|
2393.400 |
|
|
Cash & Bank Balances |
495.100
|
333.000
|
465.600 |
|
|
Other Current Assets |
0.000
|
1755.200
|
1434.800 |
|
|
Loans & Advances |
4008.500
|
4025.000
|
3323.700 |
|
Total
Current Assets |
14013.100
|
16961.800
|
15448.100 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
5390.700
|
4374.700
|
3913.700 |
|
|
Other Current Liabilities |
136.300
|
133.500
|
115.800 |
|
|
Provisions |
1077.900
|
1042.200
|
862.600 |
|
Total
Current Liabilities |
6604.900
|
5550.400
|
4892.100 |
|
|
Net Current Assets |
7408.200
|
11411.400
|
10556.000 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
28373.300 |
33371.500 |
30744.400 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
34020.700 |
33907.800 |
24895.500 |
|
|
|
Other Income |
466.200 |
484.300 |
347.900 |
|
|
|
TOTAL (A) |
34486.900 |
34392.100 |
25243.400 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing and other Expenses |
21161.400 |
22504.400 |
19128.800 |
|
|
|
Purchase for resale |
9899.300 |
8195.400 |
4014.700 |
|
|
|
Exceptional Item |
(69.200) |
0.000 |
(7796.400) |
|
|
|
TOTAL (B) |
30991.500 |
30699.800 |
15347.100 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3495.400 |
3692.300 |
9896.300 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
860.300 |
1468.000 |
847.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2635.100 |
2224.300 |
9049.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1596.800 |
1464.100 |
1221.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1038.300 |
760.200 |
7827.700 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
325.500 |
(257.700) |
1117.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
712.800 |
1017.900 |
6709.900 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4992.900 |
4615.300 |
2513.700 |
|
|
|
|
|
|
|
|
|
Add |
TRANSFER FROM
DEBENTURES REDEMPTION RESERVE |
0.000 |
15.000 |
51.700 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
500.000 |
500.000 |
4000.000 |
|
|
|
Proposed Dividend |
66.400 |
132.700 |
564.100 |
|
|
|
Corporate Dividend Tax |
22.300 |
22.600 |
95.900 |
|
|
|
Interim Dividend |
66.400 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
5050.600 |
4992.900 |
4615.300 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Before
Exceptional Item |
3.88 |
6.14 |
(0.18) |
|
|
|
After
Exceptional Item |
4.30 |
6.14 |
NA |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2010 |
30.09.2010 |
31.12.2010 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
9495.400 |
10422.300 |
9658.400 |
|
Total Expenditure |
9318.300 |
10297.800 |
9240.800 |
|
PBIDT (Excl OI) |
177.100 |
124.500 |
417.600 |
|
Other Income |
41.600 |
33.600 |
38.300 |
|
Operating Profit |
218.700 |
158.100 |
455.900 |
|
Interest |
170.300 |
151.300 |
130.200 |
|
PBDT |
48.400 |
6.800 |
325.700 |
|
Depreciation |
390.900 |
395.600 |
397.300 |
|
Profit Before Tax |
(342.500) |
(388.800) |
(71.600) |
|
Tax |
(49.900) |
(144.100) |
(57.300) |
|
Profit After Tax |
(292.600) |
(244.700) |
(14.300) |
|
Net Profit |
(292.600) |
(244.700) |
(14.300) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.07
|
2.96
|
26.58 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.05
|
2.24
|
30.24 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.04
|
1.99
|
24.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.06
|
0.68 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.58
|
2.04
|
1.96 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.12
|
3.06
|
3.16 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
Dcm Shriram Consolidated Limited has been informed BSE that the Honble
High Court of Delhi has approved the amalgamation of Shriram Bioseed Genetics
India Limited (Transformer) company with DCM Shriram consolidated limited
(Transferee Company) with effect from the appointment date i.e. April 01.,2009.
Performance
During the year, the Company witnessed a stable performance in a
challenging operating environment. The net revenue of the Company stood at
Rs.34486.900 Millions as compared to Rs.34392.100 Millions in the previous
year. In Fertilizer, the use of Natural Gas instead of Naptha as feedstock,
reduced the turnover by Rs.3170.000 Millions in the current year. The Profit
before tax stood at Rs. 1038.300 Millions as compared to Rs.760.200
Millions in the previous year, an increase
of 37%. Net profit of the Company stood at Rs.712.800 Millions as against Rs.
1017.900 Millions last year, which
included one time tax credit. On consolidated basis, the net revenue of the
Company stood at Rs.35704.500 Millions
as compared to Rs.35580.700 Millions
in the previous year. The Profit before tax stood at Rs. 1225.300
Millions as compared to Rs. 1011.300
Millions in the previous year. Net
profit of the Company stood at Rs.842.500 Millions as against Rs. 1226.100 Millions last year. The Agri Input and Solutions
Businesses of the Company comprise of Fertiliser, Agri Inputs and Bioseed. The
fertilizer business performed better buoyed by efficiencies arising from change
in feedstock from Naptha to Natural Gas, and notification of NFS III. Agri
inputs business witnessed marginal decline primarily due to lower monsoon and
drop in subsidy price of SSP. The Bioseed business through 100% subsidiaries
witnessed good growth in Revenues. This business continues to be a focus area
and a value driver for the Company, going forward.
Sugar Business witnessed a volatile year in terms of input as well as
output prices. The higher quota for levy sugar impacted the profits.
Chloro-Vinyi businesses comprise of Chlor-Alkali, Plastics and Power. The
integrated operations enable flexible production which in turn enables the
Company to optimize returns from this business. The Chemicals and Plastics
delivered lower volumes due to lower realizations and enabled higher sale of
power on merchant basis giving stability to the segment results. Hariyali Kisaan
Bazaar, the 'Rural Business Centres' witnessed higher losses, resultant to
lower than expected sales and the carryover impact of high outlet additions in
FY09. The Company is taking focused steps to strengthen the business model and
make it a better value proposition for customers to increase sales. Fenesta
with its focus on retail as well as institutional segment is poised for growth
and should deliver higher returns going forward. The earnings were buoyed by
substantial reduction in Interest costs, an outcome of lower debt and interest
rates. During the year, the Company sold its Energy Services Company, a 100%
subsidiary, at the valuation of Rs. 106.000 Millions
Management
Discussion and Analysis
Derive more
Revenues/Earnings from Assets built over last 5 years.
Fertilizer
Business:
The Company had completed conversion of its plant from Naphtha to dual
feed (Gas/Naphtha) in 2006-07 and has been operating on gas based on
availability. Since May 2009 the company has been allotted gas from KG Basin
and is operating on 100% Gas since then, which resulted in reduction in
feedstock and consequently subsidy accruals by about Rs.3200.000 Millions ,
higher energy savings which boosted our earnings and reduction in working
capital which resulted in lower borrowings in 2009-10.
Capacity and Power
expansion at Bharuch:
The Company had a full year of operation post expansion at its
Chlor-alkali facility at Bharuch,
Sugar:
The Company had enhanced its capacity from 13,000 TCD to 33,000 TCD by
setting up two
Bioseed:
The investments in research activities in Bioseed have matured and have
led to commercial launches of new and improved hybrids over the last two years
in all the territories they operate in.
These hybrids are gaining wider acceptance resulting in accelerated growth in
the Bioseed business. The turnover grew by 29% in 2009-10 despite adverse
climatic changes in some territories.
Hariyali Kisaan Bazaar:
This business witnessed an increase in overall turnover by about 50%.
The turnover grew in all verticals including core retail as well as fuel,
grains and seeds as they continue to
focus on increase in footfall in the Hariyali outlets and expand their offerings and revenue streams.
Chloro - Vinyl
Businesses
DSCL's Chloro-Vinyl business is highly integrated supported by 143 MW
coal based power facilities (part of 283 MW power capacity in the Company).
This business has multiple revenue streams, the major being Chlor-Alkali
(Caustic Soda and Chlorine), Plastics (PVC resins, Calcium carbide) and Power.
These revenue streams ensure maximization of earnings per unit of power
produced and extend stability to Chloro-Vinyl operations where individually
each of the products experience cyclical variations.
Chlor – Alkali
Chlor-Alkali industry has Caustic Soda and Chlorine as the two
Co-Products. Caustic soda and Chlorine are produced in the ratio of 1:0.886.
Both these products have different or varied demand drivers and wide usage and
the demand for these products have a direct correlation with the overall GDP of
the economy. These are used primarily by the Aluminum, Paper and Soap and detergent, polymer, textiles and water
treatment industry.
The company has manufacturing facilities at
Industry Overview
and Outlook
The Chlor-Alkali industry in
Agri Businesses
Urea
DSCL's Fertiliser Plant has an approved capacity of 379,000 TPA of Urea
at its integrated manufacturing complex at Kota Rajasthan. The company is the
lowest cost producer of Urea in the Pre -92, Naphtha based group and markets
its products under the "Shriram Urea" brand. "Shriram Urea"
is a trusted name and enjoys high brand equity amongst'the farmers. The Company
has an extensive distribution network over the entire Northern and
The use of Natural Gas (instead of Naphtha) has major positives which
include reduction in Feedstock costs and consequently subsidy accruals by ~
Rs.3200.000 Millions , higher energy savings which boosted their earnings and reduction in working capital
which resulted in lower borrowings. The earnings from the Fertilizer business
was up by 73% at Rs. 446.000 Millions
due to better efficiencies achieved by switch to Gas from Naphtha,
notification of revised NPS III scheme received and gain on account of
additional production done in FY 2009. The company also was able to produce
4000 tonnes over the base production inspite of undertaking a maintenance
turnaround of 25 days during the year. In line with government policy on
fortified fertilisers, 22,014 MT of urea was also converted to Neem Coated
Urea.
Sugar
DSCL is a major player in the domestic sugar industry. The company has
four sugar units located in Central Uttar Pradesh at Ajbapur (10,500 TCD),
Rupapur (6,500 TCD), Hariawan (8,000 TCD) and Loni (8,000 TCD) with a total crushing
capacity of 33,000 TCD. The four units have a total power cogeneration facility
of 94,5 MW with an exportable capacity of 51.5 MW.
Their Operations were better
during the Sugar season 2009-10 with Sugar production increasing by about 32% due
to higher cane crush and better recovery.
• Revenues increased by 20% at Rs. 7335.000 Millions essentially driven by firm sugar realization
despite lower volumes.
• The Company's earnings from sale of free sugar and power was higher
for the year. However, the earnings from this business on an overall basis were
lower for the year by almost 52% at Rs. 425.000 Millions due to following reasons:-
Increase in levy quota from 10% to 20% with no corresponding increase in
levy price of Rs. 1331/- quintal. Impact of Rs. 646.000 Millions as compared to Rs. 127.000 Millions last year. 2. Loss on account of drop in by
product prices from April, 2009 onwards.
Hariyali Kisaan
Bazaar
This business has evolved as "Rural Business Centers"
providing a complete solution to the farmer for his business in terms of input
and output and meeting the daily requirements of the rural community. The
objective of this business is to provide good quality goods for different needs
at best price in a convenient shopping format and gain trust of the rural
communities. This need was felt as they
believed through their
interactions with farmers over four decades, that the rural markets were
characterized by limited product range and inadequate service orientation and
widespread issues of low quality or spurious products. They currently have 292 outlets as on 31st March
2010 with geographical presence in the states of Uttar Pradesh, Haryana,
Punjab, Rajasthan, Uttaranchal, Madhya Pradesh, Andhra Pradesh and Maharashtra
and at each of these locations their
stores symbolizes trust, reliability and respect among the rural
community. The business portfolio of Hariyali consists of:-
- Retail of all
inputs/goods required for agriculture, food and grocery, lifestyle products including apparel
and house hold products, financial products and fuel.
- Farm
Advisory.
- Output side
activities i.e. grain procurement, milk collection and variety seeds
production.
Business
Performance
Hariyali recorded growth across all its verticals. The growth in core
retail business was slower than their
plan partly because of the effect of negative agriculture growth in the
country on the rural spend in general and partly because of slower customer
acquisition by Hariyali. The other businesses which include Fuel, commodity
trading, Variety seeds production and milk collection have performed better and
continue to register robust growth. The losses in this business were higher at
Rs. 812.000 Millions as compared to Rs.
646.000 Millions last year primarily
because of slower growth in turnover whereas the Revenue grew by about 50%
because of traction in their Seeds and
Commodity trading business and the impact of new outlets opened in the latter
half of the FY 2008-09.
Infrastructure
DSCL has partnered with the local community to build more than 50 km
stretch of roads benefiting the entire region in and around its cane-growing
areas. DSCL is also partnering with various factories in Bharuch for building
up of Effluent Treatment Plant, for treatment and disposal of industrial
effluents.
Fixed Assets:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fittings
·
Vehicles
·
Technical Know how
·
Brand
·
Software
UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER ENDED DECEMBER 31, 2010
Rs. in Millions
|
PARTICULARS |
Quarter
Ended |
Nine
Months Ended |
|
|
31.12.2010 |
31.12.2010 |
|
|
Unaudited |
Unaudited |
|
|
|
|
|
Gross Sales |
9997.900 |
30935.400 |
|
Less : Excise Duty |
375.300 |
1006.700 |
|
Net
Sales / Income from operations |
9622.600 |
29928.700 |
|
Other
Operating Income |
35.800 |
111.700 |
|
Total
Income |
9658.400 |
30040.400 |
|
Expenditure |
|
|
|
(Increase)
/ Decrease in stock in trade and work in progress |
(525.500) |
1064.200 |
|
Consumption
of raw materials |
3515.200 |
6396.200 |
|
Purchase
of traded goods |
2804.500 |
12432.800 |
|
Power, fuel, etc. |
1180.100 |
3297.100 |
|
Employees
cost |
809.200 |
2398.100 |
|
Depreciation |
397.300 |
1185.600 |
|
Other
expenditure |
1457.500 |
3663.400 |
|
Cost of own manufactured goods capitalised |
(0.200) |
(0.700) |
|
Total |
9638.100 |
30436.700 |
|
Profit
from operations before other income, interest and exceptional Items |
20.300 |
(396.300) |
|
Other
income |
38.300 |
111.400 |
|
Profit
before interest and exceptional Items |
58.600 |
(284.900) |
|
Interest |
130.200 |
454.100 |
|
Profit after Interest but
before Exceptional Items |
(71.600) |
(739.000) |
|
Exceptional
Items |
-- |
-- |
|
Profit/(loss)
before tax |
(71.600) |
(739.000) |
|
Provision for
taxation |
(57.300) |
(237.500) |
|
Net Profit / (loss) |
(14.300) |
(501.500) |
|
Profit before
interest, depreciation, tax and exceptional item (EBIDTA) |
455.900 |
900.700 |
|
Cash Profit (before exceptional item) |
325.700 |
446.600 |
|
Paid
up equity share capital (Face value of Rs.2/- per share) |
333.400 |
333.400 |
|
Reserves
excluding revaluation reserves as per balance sheet of previous accounting
year |
|
|
|
Earning
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) |
(0.09) |
(3.02) |
|
(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) |
(0.09) |
(3.02) |
|
Public
shareholding |
|
|
|
Number of shares |
71915223 |
71915223 |
|
Percentage of shareholding |
43.35 |
43.35 |
|
|
|
|
|
Promoters
and Promoters group Shareholding- |
|
|
|
a)
Pledged /Encumbered |
|
|
|
Number
of shares |
Nil |
Nil |
|
Percentage
of shares (as a % of total shareholding of the promoter and promoter group) |
Nil |
Nil |
|
Percentage
of shares (as a % of total share capital of the company) |
Nil |
Nil |
|
|
|
|
|
b)
Non Encumbered |
|
|
|
Number
of shares |
93988097 |
93988097 |
|
Percentage
of shares (as a % of total shareholding of the promoter and promoter group) |
100.00 |
100.00 |
|
Percentage
of shares (as a % of total share capital of the company) |
56.65 |
56.65 |
SEGMENT WISE
REVENUE RESULTS AND CAPITAL EMPLOYED
Rs. in Millions
|
PARTICULARS |
Quarter Ended |
Nine Months Ended |
|
|
31.12.2010 |
31.12.2010 |
|
|
|
|
|
Segment Revenue |
|
|
|
Fertiliser |
1162.600 |
3460.300 |
|
Farm Solutions |
1799.400 |
7679.800 |
|
Bioseed |
232.000 |
1375.400 |
|
Sugar |
1213.300 |
3750.000 |
|
Hariyali Kisaan Bazaar |
2233.200 |
5627.000 |
|
Chloro-Vinyl |
2198.400 |
5780.800 |
|
Cement |
260.100 |
837.300 |
|
Others |
761.800 |
2372.400 |
|
Total |
9860.800 |
30883.000 |
|
Less: Inter segment
revenue |
202.400 |
842.600 |
|
Total |
9658.400 |
30040.400 |
|
|
|
|
|
Segment Results |
|
|
|
Profit/(loss) (before unallocated expenditure interest and
tax) |
|
|
|
Fertiliser |
79.300 |
301.000 |
|
Farm Solutions |
63.700 |
317.700 |
|
Bioseed |
(47.800) |
50.100 |
|
Sugar |
159.900 |
(400.600) |
|
Hariyali Kisaan Bazaar |
(174.500) |
(641.300) |
|
Chloro-Vinyl |
211.000 |
681.000 |
|
Cement |
27.400 |
89.100 |
|
Others |
(57.600) |
(64.600) |
|
Total |
261.400 |
332.400 |
|
Less: |
|
|
|
Interest |
130.200 |
454.100 |
|
Other unallocable expenditure net off unallocated income |
202.800 |
617.300 |
|
Exceptional Item: Income from sale of Subsidiary |
-- |
-- |
|
Profit/(loss) before Tax |
(71.600) |
(739.000) |
|
|
|
|
|
Segment Capital Employed |
|
|
|
Fertiliser |
1437.000 |
1437.000 |
|
Farm Solutions |
721.100 |
721.100 |
|
Bioseed |
777.600 |
777.600 |
|
Sugar |
9483.900 |
9483.900 |
|
Hariyali Kisaan Bazaar |
4334.800 |
4334.800 |
|
Chloro-Vinyl |
7308.400 |
7308.400 |
|
Cement |
343.300 |
343.300 |
|
Others |
2300.300 |
2300.300 |
|
Total |
26706.400 |
26706.400 |
Note:
- In accordance with the accounting policy
consistently followed by the Company for interim results, the sugar off-season
expenditure aggregating Rs. 13.300 Millions and Rs. 286.000 Millions for the quarter and nine months period
ended December 31, 2010 respectively has been deferred for inclusion in
the cost of sugar to be produced in the remaining part of the financial
year. The corresponding figure for nine months period ended December 31,
2009 was Rs 155.700 Millions (after
absorption of Rs. 30.100 Millions
during the quarter).
- The Company had accounted for cane
purchases for sugar year 2007-08 at Rs. 110 per quintal, the rate at which
it has made payment to the cane growers as per the interim order of the
Hon’ble Supreme Court, against the price of Rs. 125 per quintal fixed by
the Uttar Pradesh State Government. Necessary adjustments will be made in
accordance with the orders of the Hon’ble court in the matter.
- The Scheme of Arrangement for merger of
Shriram Bioseed Genetics India Limited (SBGI) (a 100% subsidiary) with the
Company became effective on September 28, 2010. The standalone results for
the current quarter and nine months period includes the results of
erstwhile SBGI.
- During the quarter, 31 Investor
complaints were received, which all have been attended to. No complaints
were pending at the beginning or at the end of the quarter.
- Previous period figures have been
recast, wherever necessary.
- The above results were approved and
taken on record by the Board of Directors in their meeting held on
February 1, 2011.
AS PER WEBSITE
OVERVIEW:
They have
manufacturing facilities at
Founded by Sir Shriram in 1889 (as DCM limited), today DCM Shriram
Consolidated Limited ( DSCL) is managed by Mr. Ajay S. Shriram, Chairman and
Senior Managing Director and Mr. Vikram S. Shriram, Vice Chairman and Managing
Director along with a highly professional executive team.
Subject has a strong brand equity reflective of credibility, ethical
values and consistent high quality product image. With over 30 years of
experience in managing large scale process industries with sustained high level
of performance, Subject meets the needs of a wide range of customers from
farmers to industrial users, from house builders to business owners. Fostering
enduring relationships is at the core of Subject business philosophy - with
vendors, business partners, and customers and within the organization between
employees.
The company operates in a range of energy intensive businesses in the
Chloro-Vinyl and agri-sectors. they are always seeking to produce multiple
downstream products in a manner that they derive the maximum earnings accrual
from every unit of power that they generate in a sustainable way and in varied
market conditions. they follow this model across the manufacturing operations
at different locations with an endeavor to add value while they curtail
operating costs. Such an approach allows them to direct resources and inputs to
various downstream businesses in the most efficient manner and also become a
cost competitive producer in the chosen area.
As a leading equal opportunity employer in
Subject has a long history of accessing and employing the best
technologies for its projects and has worked successfully with renowned
international and domestic technology partners. As a learning organization
Subject has worked regularly with the national and international consultants of
repute, in diverse areas of Business Strategy, Quality, Organizational
Development etc. In a major IT initiative the company has networked all its
locations on a Wide Area Network (WAN) and implemented SAP R/3 Enterprise
Resource Package (ERP) across the Company. Other key IT enabling initiatives
are Customer Relationship Management (CRM) and Business Information Warehousing
(BIW).
The Hariyali division of the company was awarded “ACE-Best Customer
Award” for successful implementation of the SAP IS retail package.
All its main line locations/products have ISO 9000, 14000 certification
and OHSAS 18001: 1999 system of Occupational Health and Safety certifications.
The
In an increasingly global business environment, Subject vision is to
strengthen its agri and energy intensive business while ramping up "Value
Added" and "Knowledge based" products and services in the areas
of its operations. Accordingly, Subject is expanding its rural retail
initiative Hariyali Kisaan Bazaar to create a rural hub that makes agri and
consumer products (of all manufacturers) and agri services available to farmers
in a fair, transparent and convenient format. Currently there are over 302
such Bazaars.
The company had launched value added UPVC window system business under
the Fenesta TM brand in
Subject strongly believes in socially responsible business activity.
Subject has made significant contribution to the society in the fields of
Environment, Health Care, Family Planning, Education, Cultural Heritage, Rural
Development and in promoting. For its social contributions DSCL's Chlor-Alkali
facility at Bharuch has been recognized with a SA 8000:2001 certification by
RINA (Registro Italiano Navale), making it amongst the few companies in
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.65 |
|
|
1 |
Rs.71.92 |
|
Euro |
1 |
Rs.63.24 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
66 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.