MIRA
INFORM REPORT
|
Report Date : |
10.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
SAINT-GOBAIN GLASS INDIA LIMITED |
|
|
|
|
Registered
Office : |
Plot No. A1,
Sipcot Industrial Area, Sriperumbudur, Chennai – 602 105, Tamilnadu |
|
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|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
02.04.1997 |
|
|
|
|
Com. Reg. No.: |
18-37875 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.569.696 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26109TN1997PLC037875 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHES05530A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability
Company. |
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|
|
|
Line of Business
: |
Manufacturers, Exporters
and Importers of Glass and Glass Products such as Float Glass, Sheet Glass,
Laminated and Toughened Wire Glass, Heat Treated Glass, Glass Wares and
Mirrors. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 39000000 |
|
|
|
|
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 and a reputed company having fine track. Financial position of
the company appears to be sound. Directors are reported to be experienced and
respectable businessmen. 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 normal business dealings under 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) |
|
|
A1 |
A1 |
|
|
|
|
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered
Office/ Factory 1 : |
Plot No. A1,
Sipcot Industrial Area, Sriperumbudur, Chennai – 602 105, |
|
Tel. No.: |
91-44-27162832 to
39 / 41-1132834 |
|
Fax No.: |
91-44-27162840 /
41 / 41-1132841 |
|
E-Mail : |
venkateswaran.l@saint-gobain.com
sathya.narayanan@in.calyon.com
|
|
Website : |
|
|
Area : |
100000 sq. ft on
About 125 Acres Land (Owned ) |
|
|
|
|
Factory 2 : |
T-94-95 Bhosari
Industrial Estate, Pune – 411 026, |
|
Tel. No.: |
91-20-27120047/1441/0623 |
|
Fax No.: |
91-20-27120777 |
|
|
|
|
Factory 3 : |
Survey No. 616/619, Pune – |
|
Tel. No.: |
91-952135-252809/255937 |
|
Fax No.: |
91-952135-252247 |
|
E-Mail : |
|
|
|
|
|
Principal Office
: |
Saint-Gobain Vitrage, Les Miriors, 18, avenue d’Alsace –
92096 La Defense Cedex, France |
|
Tel No. : |
33 (1) 47623000 |
|
|
|
|
Branches : |
Located at: ·
·
·
Rajasthan ·
Uttar
Pradesh ·
·
·
·
Thane ·
·
·
·
Palakaad |
DIRECTORS
As on 16.09.2010
|
Name : |
Mr. Santhanam
Bhuvarghamurthy |
|
Designation : |
Managing Director
|
|
Address : |
|
|
Date of Birth/Age : |
02.03.1957 |
|
Qualification: |
B. Tech (Civil) PGD/ MGT |
|
Date of Appointment : |
22.01.1998 |
|
DIN : |
00494806 |
|
|
|
|
Name : |
Mr. Anand Y
Mahajan |
|
Designation : |
Whole-Time Director |
|
Address : |
Fiona, |
|
Date of Birth/Age : |
03.01.1953 |
|
Date of Appointment : |
02.04.1997 |
|
DIN : |
00066320 |
|
|
|
|
Name : |
Mr. Bousquet Olivier |
|
Designation : |
Director |
|
Address : |
5, Reu Du Midi, |
|
Date of Birth/Age : |
11.03.1950 |
|
Date of Appointment : |
30.06.2008 |
|
DIN : |
02746320 |
|
|
|
|
Name : |
Mr. Joseph Andrew
Pereira |
|
Designation : |
Alternate
Director |
|
Address : |
No.8, Coral Reef,
55, |
|
Date of Birth/Age : |
24.11.1948 |
|
Date of Appointment : |
05.04.2007 |
|
DIN : |
00130239 |
|
|
|
|
Name : |
Mr. Jean Pierre
Floris |
|
Designation : |
Director |
|
Address : |
3, |
|
Date of Birth/Age : |
09.07.1948 |
|
Date of Appointment: |
30.06.2008 |
|
DIN : |
02504627 |
|
|
|
|
Name : |
Mr. Benoit D’Iribarne |
|
Designation : |
Director |
|
Address : |
5, Reu Bellavoine, |
|
Date of Birth/Age : |
09.09.1961 |
|
Date of Appointment : |
09.07.2002 |
|
DIN : |
01610383 |
|
|
|
|
Name : |
Mr. Patrick Dupin |
|
Designation : |
Director |
|
Address : |
51, Avenue De Paris, |
|
Date of Birth/Age : |
09.12.1963 |
|
Date of Appointment : |
20.06.2007 |
|
DIN : |
01522067 |
|
|
|
|
Name : |
Mr. Tyagarajan Bhaskaran |
|
Designation : |
Whole-time Director |
|
Address : |
Flat No.B2, Plot No.587, |
|
Date of Birth/Age : |
20.07.1960 |
|
Qualification: |
B.Com, SICWAI |
|
Date of Appointment : |
26.04.2010 |
|
DIN : |
02168348 |
|
|
|
|
Name : |
Mr. Ramakrishnan Subramanian |
|
Designation : |
Whole-time Director |
|
Address : |
E-3, Juniper Apartments, Tas Enclave, 10th Main Road
Extension, Anna Nagar, Chennai – 600040, Tamilnadu, India |
|
Date of Birth/Age : |
26.01.1966 |
|
Qualification: |
B. Tech (Electronics), Diploma in (PGDM) |
|
Experience: |
17 Years |
|
Date of Appointment : |
26.04.2010 |
|
DIN : |
01521968 |
|
|
|
|
Name : |
Mr. Swaminathan Eisenhower |
|
Designation : |
Whole-time Director |
|
Address : |
Flat No.A-102, Prince Villa No.15, |
|
Date of Birth/Age : |
24.11.1952 |
|
Date of Appointment : |
26.04.2010 |
|
DIN : |
01521855 |
|
|
|
|
Name : |
Mr. Mahadeo Achyut Puranik |
|
Designation : |
Alternate
Director |
|
Address : |
Building No. 73B, Flat No.21, Brindavan Majiwade, Thane - 400603, |
|
Date of Birth/Age : |
10.12.1955 |
|
Date of Appointment : |
31.03.2010 |
|
DIN : |
00130340 |
KEY EXECUTIVES
|
Name : |
Mr. L.
Venkateswaran |
|
Designation : |
Secretary |
|
Address : |
Flat No. FOE, 4th Floor, Block 2, Jains Kences, Retreat 15
Reddy Street, Virugambakkam, Chennai – 600092, |
|
Date of Birth/Age : |
10.02.1958 |
|
Date of Appointment : |
31.03.2010 |
|
PAN No. : |
AAMPV0608D |
|
|
|
|
Name : |
Mr. Anand Amrit Raj |
|
Designation : |
Secretary |
|
Address : |
Flat No. 12, Chaitanya CHS, Tejpal Scheme No. 2, Vile Parle (East), Mumbai
– 400 057, |
|
Date of Birth/Age : |
28.07.1981 |
|
Date of Appointment : |
24.12.2009 |
|
Date of Ceasing : |
31.03.2010 |
|
PAN No. : |
AHQPA4654D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 16.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Saint Gobain
Glass Deutschland GMBH, |
|
37753813 |
|
Grindwell Norton
Limited, |
|
2499993 |
|
Societe De
Participations Financieres Et Industrielles (SPAFI), |
|
29481196 |
|
Grindwell Norton
Limited B |
|
1 |
|
Grindwell Norton
Limited |
|
1 |
|
Grindwell Norton
Limited Joseph Pereira, |
|
1 |
|
Grindwell Norton
Limited |
|
1 |
|
Grindwell Norton Limited
Puranik A Mahadev, |
|
1 |
|
Grindwell Norton
Limited |
|
1 |
|
Grindwell Norton
Limited |
|
1 |
|
Total |
|
69735009 |
List of Allotment (As on 27.06.2011)
|
Names of Allottees |
|
No. of Shares |
|
Societe De
Participations Financieres Et Industrielles (SPAFI), |
|
24628571 |
|
Total |
|
24628571 |
AS ON 16.09.2010
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
96.42 |
|
Bodies corporate |
3.58 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers, Exporters
and Importers of Glass and Glass Products such as Float Glass, Sheet Glass,
Laminated and Toughened Wire Glass, Heat Treated Glass, Glass Wares and
Mirrors. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
·
HDFC
Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400
013, ·
ABN
Amro Bank N. V., Credit Administration Department, 63, ·
Indian
Overseas Bank, Irungattukottai Branch, Chennai, Tamilnadu, India ·
Calyon
Bank 27th Floor, Two
Pacific Place, 88, Queensway, Hong Kong ·
·
Standard
Chartered Bank, New London Bridge House, 25 New
London Bridge Street, London SE19TB ·
State
Bank of Corporate Accounts Group Branch, 149, Greams Road, Chennai 600006,
Tamilnadu, India ·
HSBC
Bank ·
Standard
Chartered Bank |
Facilities :
(Rs. in millions)
|
Secured Loans |
31.03.2010 (12
Months) |
31.03.2009 (15
Months) |
31.12.2007 |
31.12.2006 |
|
Loans From banks |
|
|
|
|
|
Term Loans I |
0.000 |
2302.563 |
2706.424 |
Details are not
available |
|
Term Loans II |
0.000 |
125.000 |
1125.000 |
|
|
Short Term Loans |
250.000 |
600.000 |
1700.375 |
|
|
Total |
250.000 |
3027.563 |
5531.799 |
Notes:
1.
Term loans repayable within one year
2.
Term loan I are secured by a pari passu charge on
the fixed assets of the company
3.
Term loan II are secured by a pari passu charge on
the fixed assets of the company and second charge over current assets including
receivables
4.
Short term loans are secured by a pari passu charge
on the existing and future stocks and receivables and second charge on the
fixed assets of the company.
|
Unsecured Loans |
31.03.2010 (12
Months) |
31.03.2009 (15
Months) |
31.12.2007 |
31.12.2006 |
|
Term Loans* |
772.072 |
772.072 |
0.000 |
Details are not
available |
|
Short term loans from banks – repayable within one year |
866.837 |
1899.681 |
19.871 |
|
|
Bank Overdraft - Book |
25.485 |
4.702 |
22.481 |
|
|
Total |
1664.394 |
2676.455 |
42.352 |
Note:
* External Commercial borrowing from related party (Repayable within one
year - nil)
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial
Institution: |
Calyon Bank- 27th Floor, |
|
|
|
|
Auditors : |
|
|
Name : |
A J Shaikh Chartered
Accountant |
|
Address : |
32, |
|
PAN No. : |
AAEFP5579P |
|
|
|
|
Holding Company : |
·
Saint
Gobain Glass Deutschland GMBH, ·
Societe
De Participations Financieres Et Industriellers (SPAFI), ·
Saint
Gobain Promotion et Participations Internationales, France |
|
|
|
|
Ultimate Holding Company: |
Compagnie-De-Saint-Gobain
* Vintage Less
Miroirs, 18 Tel. No. 33 (1)
476 230 00 |
|
|
|
|
Fellow Subsidiary : |
·
Saint-Gobain Promotions et Participations
Internationales, France ·
Saint-Gobain Deutschland, ·
Grindwell Norton India Limited * ·
Saint-Gobain Seva , France * ·
Hankuk Glass Industries , ·
Saint-Gobain Glass ·
Saint-Gobain Cristellaria ·
Saint-Gobain Sekurit India Limited, ·
Saint-Gobain Vetrotex India Limited ·
Saint-Gobain Isover ·
Saint-Gobain Glass ·
Saint Gobain K and K ·
Saint Gobain Oberland ·
Saint-Gobain Glass, France * ·
Saint-Gobain Exprover * ·
Saint-Gobain Glass ·
Saint Gobain Glass Solar Control * ·
Saint ·
Saint Gobain Hankuk ·
Saint Gobain ·
Saint Gobain Sekurit ·
Saint Gobain Glass ·
Saint Gobain Sekurit Deutschland, GmBH* ·
Saint ·
Saint Gobain Vitrage ·
Saint Gobain Direction Technique* ·
Saint Gobain Gyproc (Formerly known as India
Gypsum)* ·
Saint Gobain Autover Distribution S.A * ·
Savoie SEPR ·
SEPR Italia ·
Verrerie Aurys ·
Hankuk Sekurit Limited * ·
Saint Gobain Hanglas CIFG ·
SG Vertax ·
Shanghai Saint Jungle ·
Saint Gobain Sekurit – ·
SG Glass Polska * ·
Saint-Gobain Glass Benelux S.A. ·
SG Sekurit Thailande Co Limited * ·
Cesa Construction ·
Najing New Nawnoo Glass Industries * ·
SG Glass Italia SpA ·
SG Glass ·
Saint Gobain ·
Saint Gobain Crystal and Detectors India Limited ·
SEPR Refractories India Limited ·
Saint Gobain ·
Saint-Gobain Techniver S.A* ·
Saint-Gobain Cristaleria S.A ·
Vetrotech Saint -Gobain Hong Kong * ·
Vetrotech Saint-Gobain International AG ·
Verrerie de Saint-Just ·
Saint-Gobain Glass UK Limited ·
Saint-Gobain Hanglas Sekurit ( ·
Saint-Gobain ( ·
·
Savoie Réfractaires * ·
Saint-Gobain Recherche * ·
Direction technique internationale * ·
Saint-Gobain Conceptions Verrieres * ·
Saint-Gobain Glass Benelux SA * ·
Saint-Gobain Glass Deutschland GmbH * ·
Saint-Gobain Photovoltaic Glass ·
Saint-Gobain Cristaleria S.A ·
Vetrotech Saint Gobain FR * ·
Saint Gobain Vidros S/A ·
Eckelt Glas GMBH* ·
·
Saint - Gobain do Brasil Produtos* ·
Cebrace crystal ·
Saint - Gobain K.K. , ·
Saint-Gobain Sekurit CR spol.s r.o, ·
Saint Gobain Glass |
* Represents related parties with whom the Company had transactions during
the year.
CAPITAL STRUCTURE
After 16.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
94364000 |
Equity shares |
Rs.10/- Each |
Rs.943.640 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
94363580 |
Equity Shares |
Rs.10/- Each |
Rs.943.636 millions |
As on 16.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
75000000 |
Equity shares |
Rs.10/- Each |
Rs.750.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
69735009 |
Equity Shares |
Rs.10/- Each |
Rs.697.350 Millions |
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
75000000 |
Equity shares |
Rs.10/- Each |
Rs.750.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
56969593 |
Equity Shares |
Rs.10/- Each |
Rs.569.696 Millions |
NOTE:
56,969,593 Equity Shares of Rs.10/- Each, fully paid up (of
the above 37753813 shares are held by Saint Gobain Glass Deutschland,
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 (12
Months) |
31.03.2009 (15
Months) |
31.12.2007 |
31.12.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
|
1] Share Capital |
569.696 |
569.696 |
569.696 |
569.695 |
|
|
2] Share Application Money |
1914.813 |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
7299.696 |
6230.783 |
5466.691 |
5417.355 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
9784.205 |
6800.479 |
6036.387 |
5987.050 |
|
|
LOAN FUNDS |
|
|
|
|
|
|
1] Secured Loans |
250.000 |
3027.563 |
5531.799 |
6101.658 |
|
|
2] Unsecured Loans |
1664.394 |
2676.455 |
42.352 |
37.287 |
|
|
TOTAL BORROWING |
1914.394 |
5704.018 |
5574.151 |
6138.945 |
|
|
DEFERRED TAX LIABILITIES |
1409.800 |
1053.900 |
647.222 |
330.000 |
|
|
|
|
|
|
|
|
|
TOTAL |
13108.399 |
13558.397 |
12257.760 |
12455.995 |
|
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
9773.419 |
9694.609 |
10378.819 |
9972.343 |
|
|
Capital work-in-progress |
1101.148 |
1796.035 |
486.133 |
1222.231 |
|
|
|
|
|
|
|
|
|
INVESTMENT |
469.404 |
357.384 |
233.309 |
343.244 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
|
Inventories |
1902.830
|
2319.087
|
1670.329 |
1807.798 |
|
|
Sundry Debtors |
2013.821
|
1935.693
|
1597.276 |
1380.730 |
|
|
Cash & Bank Balances |
206.233
|
380.336
|
318.009 |
247.540 |
|
|
Other Current Assets |
13.519
|
0.000
|
0.266 |
3.954 |
|
|
Loans & Advances |
679.929
|
885.377
|
493.515 |
389.253 |
|
Total
Current Assets |
4816.332
|
5520.493
|
4079.395 |
3829.275 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
|
Sundry Creditors |
2653.539
|
3177.230
|
2157.640 |
|
|
|
Other Current Liabilities |
338.457
|
605.925
|
310.505 |
|
|
|
Provisions |
59.908
|
26.969
|
451.751 |
279.860 |
|
Total
Current Liabilities |
3051.904
|
3810.124
|
2919.896 |
2911.098 |
|
|
Net Current Assets |
1764.428
|
1710.369
|
1159.499 |
918.177 |
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL |
13108.399 |
13558.397 |
12257.760 |
12455.995 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 (12
Months) |
31.03.2009 (15
Months) |
31.12.2007 |
31.12.2006 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
Income |
11828.601 |
13841.323 |
9387.919 |
7767.291 |
|
|
|
Other Income |
274.654 |
178.773 |
250.944 |
166.158 |
|
|
|
TOTAL (A) |
12103.255 |
14020.096 |
9638.863 |
7933.449 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
Manufacturing and Other Expenses |
9116.901 |
10969.839 |
7487.049 |
6324.079 |
|
|
|
TOTAL (B) |
9116.901 |
10969.839 |
7487.049 |
6324.079 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2986.354 |
3050.257 |
2151.814 |
1609.370 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
304.588 |
703.912 |
452.212 |
428.159 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2681.766 |
2346.345 |
1699.602 |
1181.211 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1028.043 |
1185.659 |
935.119 |
792.339 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1653.723 |
1160.686 |
764.483 |
388.872 |
|
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
584.810 |
396.595 |
324.933 |
105.700 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1068.913 |
764.091 |
439.550 |
283.172 |
|
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1012.010 |
247.919 |
247.901 |
NA |
|
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
NA |
43.955 |
NA |
|
|
|
Proposed Dividend |
NA |
NA |
338.115 |
NA |
|
|
|
Tax on Proposed Dividend |
NA |
NA |
57.462 |
NA |
|
|
|
BALANCE CARRIED
TO THE B/S |
2080.923 |
1012.010 |
247.919 |
NA |
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
|
Export on FOB Basis |
1074.773 |
1532.187 |
1319.827 |
1068.880 |
|
|
TOTAL EARNINGS |
1074.773 |
1532.187 |
1319.827 |
1068.880 |
|
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
Raw Materials |
1199.621 |
2145.226 |
1083.938 |
|
|
|
|
Stores & Spares |
310.668 |
274.597 |
166.452 |
|
|
|
|
Packing Material |
4.234 |
2.899 |
2.990 |
|
|
|
|
Capital Goods |
92.612 |
437.188 |
141.637 |
|
|
|
|
Traded Goods |
62.505 |
104.202 |
175.398 |
|
|
|
TOTAL IMPORTS |
1669.640 |
2964.112 |
1570.415 |
3194.020 |
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) Basic Diluted |
18.76 18.28 |
13.41 -- |
7.72 7.72 |
-- -- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 (12
Months) |
31.03.2009 (15
Months) |
31.12.2007 |
31.12.2006 |
|
PAT / Total Income |
(%) |
8.83
|
5.45
|
4.56 |
3.57 |
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.98
|
8.39
|
8.14 |
5.01 |
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.33
|
7.63
|
5.28 |
2.82 |
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.17
|
0.13 |
0.06 |
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.51
|
1.40
|
1.41 |
1.51 |
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.58
|
1.45
|
1.40 |
1.32 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS:
The financial results reported above are for 12 months and the previous
period is for 15 months and hence not comparable.
The sales during the year 2009-10 have grown by 7.2% on annualized
basis. The Indian economy was severely affected by the global economic melt
down in the first half of the financial year and there were signs of recovery
in the second half. Consequently, the Indian glass market has not grown
significantly and the export market has also dropped. During the year, there
were two new entrants to the Indian glass market. The effective funds
management along with cash generation has resulted in reduction in interest
cost. The company has also initiated
many cost reduction projects. These efforts have helped in improving the
operating income during 2009-10 from 13.30% to 16.20%
In Automotive Glass Business, the company has increased the capacity and
with the Indian economy improving, the sales have increased.
During the year the company has received application money for equity
shares amounting to Rs. 1920.000 millions and the equity shares have been
allotted in April 2010.
FUTURE PROSPECTS:
The Indian glass market is expected to grow at a pace higher than the
previous year. With the full presence of the competitors the company is
expected to grow at a moderate rate. The company will continue to focus on the
value added product and to work on the cost reduction and efficiency
improvement projects to improve the operating profit margin.
The company plans to expand the capacity by putting a new facility at
Bhiwadi, Rajasthan the land has been identified and the setting up of the
facility has been initiated
CONTINGENT
LIABILITY
|
Particulars |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
|
|
|
|
|
|
Claims against the company not acknowledged as debts in respect of
various cases relating to taxation |
160.865 |
93.955 |
|
The company has availed customs duty exemption for imports under export
promotion capital goods scheme. The company is in the process of meeting
obligation under the scheme |
244.199 |
265.787 |
|
Total |
405.064 |
359.742 |
FORM 8
|
This form is for |
Creation of charge |
|
Corporate identity number of the company |
U26109TN1997PLC037875 |
|
Name of the company |
SAINT-GOBAIN GLASS INDIA LIMITED |
|
Address of the registered office or of the principal place of business in |
Plot No. A1, Sipcot Industrial Area, Sriperumbudur, Chennai – 602 105,
|
|
Type of charge |
Movable property (not being pledge) |
|
Particular of charge holder |
HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400
013, |
|
Nature of description of the instrument creating or modifying the
charge |
Memorandum relating to hypothecation of machinery |
|
Date of instrument Creating the charge |
30.05.2011 |
|
Amount secured by the charge |
Rs.3000.000 millions |
|
Brief particulars of the principal terms an conditions and extent and
operation of the charge |
Rate of interest As per Bank rate of interest Terms of repayment Repayable in 8 equated quarterly installments from the end of the first
year. Margin As per the Bank norms Extent and operation of the charge First charge on pari passu basis by way of hypothecation on movable
plant and machinery located in Sriperumbudur. Others Nil |
|
Short particulars of the property charged |
First charge by way of hypothecation on pari passu basis over the
movable plant and machinery of the company situated at Sriperumbudur. |
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Data Processing
Equipments
·
Furniture, Fixture and office
equipments
·
Vehicles
AS PER WEBSITE
Profile
Subject established its
presence in
Within these sectors, a variety of products
are manufactured by eight different companies:
FLAT GLASS
Subject, which manufactures and markets float glass
and mirrors from its plant near Chennai
Saint-Gobain Sekurit India Limited (SGSI), which offers a
range of automotive glass products.
HIGH PERFORMANCE MATERIALS
Grindwell Norton Limited (GNO), which
manufactures and markets abrasives, silicon carbide, high performance
refractories and performance plastics from its six manufacturing locations.
Saint-Gobain Crystals and Detectors
India Limited (SGCD), which manufactures and markets radiation detection
and measurement products, and SEPR
Refractories India Limited (SEPR), which manufactures and markets
electrofused refractories.
CONSTRUCTION PRODUCTS
Saint-Gobain Weber (SGW), which offers
facade and tiling solutions and technical mortars
Saint-Gobain SEVA Engineering India
Limited (SGSEIL), which manufactures top rolls, tempering furnaces and
toolings for the automotive sector, moulds for containers and some building hardware
products, and
Saint-Gobain Gyproc India (formerly
India Gypsum), which manufactures an extensive range of Gypsum boards
and plasters systems and solutions for partitions, wall panels, ceilings and
internal wall linings.
In order to further its business growth in the Indian sub-continent, Subject also established the General
Delegation for
Subject places great emphasis on developing its
businesses and strengthening its presence in the Indian market. This combined
with its investment in manufacturing activities to fuel growth, makes it
possible to bring in advanced technological competency in providing
state–of–the-art products to the customers.
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.45.17 |
|
|
1 |
Rs.73.72 |
|
Euro |
1 |
Rs.64.26 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
64 |
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.