Business
information report
1. Summary Information
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Country |
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Company Name |
ALOK INDUSTRIES LIMITED |
Principal Name 1 |
Mr. Ashok B.
Jiwrajka |
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Status |
Satisfactory |
Principal Name 2 |
Mr. Dilip B. Jiwrajka |
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Registration # |
11-000334 |
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Street Address |
17/5/1, 521/1,
Village Rakholi, Saily, Silvassa, Dadar Nagar Haveli 396230, |
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Established Date |
12.03.1986 |
SIC Code |
-- |
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Telephone# |
91-22-22874865 |
Business Style 1 |
Manufacturing |
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Fax # |
91-22-22874864 |
Business Style 2 |
-- |
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Homepage |
Product Name 1 |
Woven Fabrics of Cotton |
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# of employees |
-- |
Product Name 2 |
Man Made Filament Yarn |
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Paid up capital |
Rs.7,877,982,780 |
Product Name 3 |
Pile Fabric |
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Shareholders |
Promoter – 28.35 % Public Shareholding -71.65% |
Banking |
Corporation Bank |
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Public Limited Corp. |
YES |
Business Period |
24 years |
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IPO |
YES |
International Ins. |
- |
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Public |
YES |
Rating |
Ba (41) |
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Related
Company |
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Relation
Subsidiaries Company |
Country |
Company
Name |
Alok International, Inc. |
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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 |
33,274,700,000 |
Current Liabilities |
5,440,000,000 |
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Inventories |
14,744,100,000 |
Long-term Liabilities |
85,096,800,000
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Fixed Assets |
62,058,600,000 |
Other Liabilities |
4,069,800,000 |
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Deferred Assets |
-- |
Total Liabilities |
94,606,600,000 |
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Invest& other Assets |
11,691,100,000 |
Retained Earnings |
19,284,000,000 |
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|
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Net Worth |
27,161,900,000 |
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Total Assets |
121,768,500,000 |
Total Liab. & Equity |
121,768,500,000 |
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Total Assets (Previous Year) |
70,117,100,000 |
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P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
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Sales |
43.111.700,000 |
Net Profit |
2,473,400,000 |
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Sales(Previous yr) |
29,769,200,000 |
Net Profit(Prev.yr) |
1,883,700,000 |
MIRA
INFORM REPORT
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Report Date : |
18.01.2011 |
IDENTIFICATION DETAILS
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Name : |
ALOK INDUSTRIES LIMITED |
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Registered Office : |
17/5/1, 521/1,
Village Rakholi, Saily, Silvassa, Dadar Nagar Haveli 396230. |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
12.03.1986 |
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Com. Reg. No.: |
11-000334 |
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CIN No.: [Company
Identification No.] |
L17110DN1986PLC000334 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA02206B/
MUMA19032G |
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PAN No.: [Permanent
Account No.] |
AAACA0201C |
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Legal Form : |
A Public Limited Liability Company. The company’s shares are listed on the Stock Exchanges. |
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Line of Business : |
Manufacturing of cotton and viscose / blended grey and processed
fabrics and 100% cotton knitted fabrics and intermingled yarn. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (41) |
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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 460000000 |
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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 a reputed company having fine track.
Financial position of the company appears to be good. Trade relations are
reported as fair. Business is active. Payments are reported to be regular and
as per commitments. Company can be considered good for normal business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
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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 : |
17/5/1, 521/1,
Village Rakholi, Saily, Silvassa, Dadar Nagar Haveli 396230, |
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Tel. No.: |
91-260-3087000 |
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Fax No.: |
91-260-2645289 |
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E-Mail : |
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Factory : |
B-43, Mittal Tower, Nariman Point, Mumbai – 400 021, |
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Tel. No.: |
91-22-22874865 / 22832923 / 24940129 / 22845233 / 22881279 / 22832923 |
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Fax No.: |
91-22-22874864 / 24936078 |
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E-Mail : |
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Website : |
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Corporate Office : |
Peninsula Tower ‘A’ Wing, Peninsula Corporate Park, G. K. Marg, Lower
Parel, Mumbai – 400013, |
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Tel. No. : |
91-22-24996200 / 6500 |
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Marketing
Offices (Domestic) |
·
177, Alok House, Sant Nagar, East of Kailash, ·
F/29,Okhla Industrial Area Phase-I, Ground floor, Rajee, 8-3/1, Lang Fort Road, ,Lang Fort Town, Bangalore
– 560025, India Chennai Office Office No. D, First Floor, Doshi Towers No. 156, |
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Marketing
offices: (Overseas) |
Sri Lanka Office 31/2, ·
7 West, ·
123 OAK, BOBKOVA, 747/30-Cerny Most, Praha,190 00 Dureck House, |
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Factory : |
Spinning 412, Saily, Silvassa, Weaving Division 209/1 and 209/4, Silvassa, Village Dadra, Yarn Division 65, A, Piparia Industrial Estate, Silvassa – 396 230, 103 / 2, Rakholi, Silvassa, Processing C-16 / 2, TTC Industrial Area, MIDC, Navi Mumbai, S. No. 268, Village Balitha, Pardi, Valsad, 254, Village Balitha, Taluka Pardi, District Valsad, State Knitting Division 17/5/1, Rakholi, Silvassa, 521/1, Saily, Union 254, 261, 268, Balitha, Taluka Pardi, Dist: 110, Morai, Pardi, Valsad, Garments 374 Saily, Silvassa, C – 271/2, TTC Industrial Area, Turbhe, Navi Mumbai Made Ups 374/2/2, Village Saily, Silvassa, 268, Balitha, Taluka Pardi, Dist. Valsad, POY 521/1, Saily, Union Texturising (yarn) 103/2, Rakholi, Silvassa, 521/1, Saily, Union 17/5/1 and 521/1 Rakholi / Saily, Silvassa Hemming 103/2, Rakholi, Silvassa, |
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Branches : |
177, Alok House, Sant Nagar, East of Kailash, New Delhi – 110065,
Delhi, India |
DIRECTORS
As on 25.09.2009
|
Name : |
Mr. Ashok
Bhagirathmal Jiwrajka |
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Designation : |
Whole Time
Director |
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Address : |
301, Krishan
Kunj, |
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Date of
Birth/Age : |
07.10.1950 |
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Qualification : |
Commerce Graduate |
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Experience : |
30 Years |
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Other Directorship : |
·
Grabal Alok Impex Limited ·
Alok Knit Exports Limited ·
·
Alspun Infrastructure Limited ·
Alok Infrastructure Private Limited ·
Alok Apparels Private Limited ·
Alok Clothing Private Limited ·
Alok Realtors Private Limited ·
Alok Homes and Apparels Private Limited ·
Alok Land Holdings Private Limited ·
Alok Aurangabad Infratex Private Limited ·
Alok New City Infratex Private Limited ·
Alok Industries International Limited ·
Grabal Alok International Limited |
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Other
Committee Memberships : |
Chairman
of the Executive Committee of Grabal Alok Impex Limited Member of Share Transfer and Investors’ Grievances Committee of Grabal
Alok Impex Limited |
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Date of Appointment : |
12.03.1986 |
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DIN No : |
00168350 |
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Name : |
Mr. Dilip Bhagirathmal
Jiwrajka |
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Designation : |
Managing Director
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Address : |
6, Bay View, |
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Date of
Birth/Age : |
09.10.1956 |
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Date of Appointment : |
12.03.1986 |
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DIN No : |
00173476 |
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Name : |
Mr. Surendra Bhagirathmal Jiwrajka |
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Designation : |
Whole Time
Director |
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Address : |
Flat No.901, |
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Date of
Birth/Age : |
17.10.1958 |
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Date of Appointment : |
12.03.1986 |
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DIN No : |
00173525 |
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Name : |
Mr. Rakesh Vishwanath Kapoor |
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Designation : |
Director* |
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Address : |
Plot No.4, Flat
No.104, Sector 23, IFCI Apartments, Dwarka, New Delhi-110075, |
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Date of Birth/Age : |
23.07.1955 |
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Date of Appointment : |
31.01.2006 |
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DIN No : |
00015358 |
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Name : |
Mr. Ashok Girdharidas Rajani |
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Designation : |
Director |
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Address : |
101/102, Read
Rose Apartments, Pochkhanwala, Road, Mumbai-400018, |
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Date of Birth/Age : |
15.01.1953 |
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Date of Appointment : |
27.05.1993 |
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DIN No : |
00267748 |
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Name : |
Mr. Kandarp Ratanchand Modi |
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Designation : |
Director |
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Address : |
901, Pushpanjali
Apartments, |
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Date of Birth/Age : |
18.05.1942 |
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Date of Appointment : |
27.05.1994 |
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DIN No : |
00261506 |
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Name : |
Mr. Asit Baran
Dasgupta |
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Designation : |
Director |
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Address : |
CL-92, 1st
Floor, Sector-II, |
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Date of Birth/Age : |
01.01.1941 |
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Date of Appointment : |
30.12.2008 |
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DIN No : |
02476594 |
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Name : |
Mr. Chandrakumar
Govindram Bubna |
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Designation : |
Whole Time
Director |
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Address : |
124/5, Krishna Kunj,
Sainik Farm, Central Avenue, New Delhi-110062, |
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Date of Birth/Age : |
15.01.1953 |
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Date of Appointment : |
27.05.1993 |
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DIN No : |
0011031 |
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Name : |
Mr. Korath Jacob
Punnathara |
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Designation : |
Director * |
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Address : |
House No.29,
Rajalakshmi, Nagar, Pattom, Thiruvanathapuram, Kerla-695004, Tamil |
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Date of Birth/Age : |
09.06.1944 |
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Date of Appointment : |
29.04.2003 |
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DIN No : |
01385907 |
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Name : |
Mr. Ramdas
Janardhan Kamath |
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Designation : |
Director * |
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Address : |
Leela, 707, 12th
Cross, 7th Block, Jaya Nagar, Banglore-560082, |
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Date of Birth/Age : |
28.04.1941 |
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Date of Appointment : |
21.05.2005 |
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Name : |
Timothy Charles
William Ingram Stanley |
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Designation : |
Director |
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Address : |
6, |
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Date of Birth/Age : |
18.06.1947 |
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Date of Appointment : |
29.07.2005 |
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DIN No : |
01430613 |
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Name : |
Mr. Hiroo Suresh
Advani |
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Designation : |
Director |
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Address : |
403, Shivala, |
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Date of Birth/Age : |
04.03.1945 |
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Date of Appointment : |
19.04.2006 |
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DIN No : |
00265233 |
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Name : |
Mr. Keshav
Dattaram Hodavdekar |
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Designation : |
Director * |
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Address : |
A-163, |
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Date of Birth/Age : |
18.03.1951 |
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Date of Appointment : |
08.09.2008 |
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DIN No : |
00406556 |
KEY EXECUTIVES
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Name : |
Mr. Gopal
Hariharan Kadayam |
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Designation : |
Secretary |
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Address : |
C-3, Nav Pramanu,
CHS, W. T. Patil Marg, Chembur, Mumbai-400071, |
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Date of Birth/Age : |
31.01.1966 |
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Date of Appointment : |
28.07.1994 |
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PAN No : |
ADLPG4276G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
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Names of Shareholders |
No. of Shares |
Total
Shareholding as a % of total No. of Shares |
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(A) Shareholding of Promoter and Promoter Group |
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64,183,016 |
8.15 |
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158,498,155 |
20.12 |
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222,681,171 |
28.27 |
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695,180 |
0.09 |
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695,180 |
0.09 |
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Total shareholding of Promoter and Promoter Group (A) |
223,376,351 |
28.35 |
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(B) Public Shareholding |
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965,897 |
0.12 |
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168,053,080 |
21.33 |
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10,000 |
- |
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109,398,742 |
13.89 |
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278,427,719 |
35.34 |
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82,574,382 |
10.48 |
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88,383,190 |
11.22 |
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57,283,428 |
7.27 |
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57,753,208 |
7.33 |
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4,703,756 |
0.60 |
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1,848,965 |
0.23 |
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5,780,314 |
0.73 |
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3,000 |
- |
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45,392,823 |
5.76 |
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24,350 |
- |
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285,994,208 |
36.30 |
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Total Public shareholding (B) |
564,421,927 |
71.65 |
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Total (A)+(B) |
787,798,278 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs.0.100 Million BUSINESS DETAILS
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Line of Business : |
Manufacturing of cotton and viscose / blended grey and
processed fabrics and 100% cotton knitted fabrics and intermingled yarn. |
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Products : |
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GENERAL INFORMATION
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Bankers : |
·
Corporation Bank, Industrial Finance Branch,
Bharat House, No.104, Ground Floor, M. S. Marg, Mumbai-400023, ·
Export
Import Bank of |
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Facilities : |
Note: 1. Debentures are secured by: a) Debentures redeemed during the year
b) Debentures outstanding at the year end are redeemable as follows
c) All the debentures in a) and b) above are / were secured by pari
passu charge on the immovable property situated at Mouje Irana, Taluka Kadi, District Mehsana in the state of
2. Term loans are secured as under : a) Term loans from financial institutions and from banks (Including
foreign currency loans) to the extent of Rs. 1393.800 Millions (previous year Rs. 175.15 Millions ) and
Rs. 27702.400 Millions (previous year Rs.
28335.300 Millions ) respectively, are secured by (i) a pari passu first
charge created/to be created on all present and future movable and immovable
assets of the company subject to exclusive charges created/to be created on
specific fixed assets in favour of specified lenders. (ii) a charge created/
to be created on all current assets of the company subject to a prior charge
on such current assets created/to be created in favour of the company’s
bankers towards working capital requirements and (iii) the personal
guarantees of three promoter directors. b) Term loan from banks to the extent of Rs. 2597.800 Millions (previous year Rs. 1767.800 Millions ) is
secured by (i) an exclusive charge created on specific assets financed by
them and (ii) the personal guarantees of three promoter directors. c) Term loans from the Banks and Financial Institutions to the extent
of Rs. 2041.900 Millions (previous
year Rs. 4089.100 Millions ) and Rs. 382.200 Millions (previous year Rs. 840.100 Millions )
respectively, are secured by (i) subservient charge on all movable assets of
the Company present and future subject to prior charge on specific movable
assets in favour of the company’s term lenders and towards working capital
requirements (ii) the personal guarantee of three Promoter Directors of the
Company. d) Term loans from the Banks to the extent of Rs. 132.000
Millions (previous year Rs. 188.800
Millions ) are secured by (i) subservient charge on all assets of the Company
excluding Land and Building (ii) Pledge of company’s investment in a
subsidiary viz. Alok Industries International Limited (ii) the personal
guarantee of three Promoter Directors of the Company. e) Term loan from the Bank to the extent of Rs. 28007.200
Millions (previous year Rs. 13134.800
Millions ), are secured by subservient charge on all present and future
moveable fixed assets, stocks and receivables of the Company subject to prior
charge in favour of the company’s term lenders and working capital bankers. f) term loan from Financial Institution of Rs. 1128.500 Millions (previous year Rs. 1273.800 Millions ) is
secured by (i) subservient charge on all the present and future moveable
fixed assets of the company except land and building 3 Working Capital limits from banks are secured by (i) hypothecation
of Company’s inventories, book debts etc. (ii) second charge created / to be
created on the fixed assets of the Company (iii) immovable properties
belonging to the Company / Guarantors and (iv) the personal guarantees of
three promoter directors of the Company. 4 Hire Purchase Loans are secured by the respective assets, mainly
Plant and Machinery and Equipments, purchased under the said loans. Notes : Term Loan from banks to the extent of Rs. 400.000 millions (Previous
year Rs. 1149.900 millions) are secured by Personal Guarantee of three
Promoter Directors. |
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Banking
Relations : |
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Auditors : |
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Name : |
Gandhi and Parekh Chartered Accountant |
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Address : |
6, Saraswati Darshan, 2nd Floor, Opp. New Era Cinema, |
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Subsidiaries : |
CIN No : U45201MH2006PLC164267
CIN No : U17200MH2007PLC173934
CIN No : U18109MH2007PTC171850
CIN No : U70102MH2008PTC179047
CIN No : U45400MH2008PTC177834
CIN No : U45400MH2008PTC180428
CIN No : U45400MH2008PTC180429
CIN No : U55101MH2008PTC181867
CIN No : U70102MH2008PTC181869
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Joint Venture: |
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Associates : |
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CAPITAL STRUCTURE
As On : 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
900000000 |
Equity Shares |
Rs.10/- each |
Rs. 9000.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
787798278 |
Equity Shares |
Rs.10/- each |
Rs.7878.000
Millions |
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Less: Call in arrears |
|
Rs.0.100
Millions |
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Total |
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Rs.7877.900 Millions |
NOTES:
a) During the year
59,08,23,309 (previous year 98,00,000) equity shares are issued as under:
i] Nil (Previous Year
98,00,000) Equity shares of Rs. 10/- each are issued on conversion of Nil
(Previous Year 98,00,000) warrants to promoter group at a premium of Rs. Nil
(Previous Year Rs. 901.600 Millions).
ii] 40,87,23,061
(Previous Year Nil) Equity Shares of Rs.10/- are issued at a premium
aggregating to Rs. 408.700 Millions on
Rights basis in the ratio of 83 Rights Equity Shares for every 40 Equity Shares
held.
iii] 18,21,00,248
(Previous Year Nil) Equity Shares of Rs.10/- are issued at a premium
aggregating to Rs. 2425.600 Millions in
Qualified Institutional Placements (QIP).
b) Of the above
shares :
i] 7,45,396 equity
shares were allotted as Bonus shares by way of capitalisation of General
Reserve.
ii] 62,550 equity shares
being forfeited shares were reissued during 2001.
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 |
7877.900 |
1969.700 |
1871.700 |
|
|
2] Share Application Money |
0.000 |
1375.000 |
0.000 |
|
|
3] Reserves & Surplus |
19284.000 |
14103.900 |
11340.100 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
27161.900 |
17448.600 |
13211.800 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
80866.600 |
62562.400 |
48241.500 |
|
|
2] Unsecured Loans |
4230.200 |
3401.100 |
9431.600 |
|
|
TOTAL BORROWING |
85096.800 |
65963.500 |
57673.100 |
|
|
DEFERRED TAX LIABILITIES |
4069.800 |
3079.700 |
2104.800 |
|
|
SHARE WARRANTS |
0.000 |
102.000 |
1101.600 |
|
|
|
|
|
|
|
|
TOTAL |
116328.500 |
86593.800 |
74091.300 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
62058.600 |
38255.900 |
28949.800 |
|
|
Capital work-in-progress |
9392.500 |
21582.700 |
9963.200 |
|
|
|
|
|
|
|
|
INVESTMENT |
2296.900 |
4785.800 |
6189.600 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
FOREIGN CURRENCY TRANSLATION MONETARY ACCOUNTS |
1.700 |
112.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
14744.100
|
9438.400 |
6875.800
|
|
|
Sundry Debtors |
11012.300
|
8841.900
|
6077.100
|
|
|
Cash & Bank Balances |
13902.900
|
3449.500
|
16737.400
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
8359.500
|
5129.500
|
4085.000
|
|
Total
Current Assets |
48018.800
|
26859.300
|
33775.300
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
3799.100
|
3673.200 |
|
|
|
Other Current Liabilities |
1090.200
|
1040.800
|
4421.700
|
|
|
Provisions |
550.700
|
287.900
|
364.900
|
|
Total
Current Liabilities |
5440.000
|
5001.900
|
4786.600
|
|
|
Net Current Assets |
42578.800
|
21857.400
|
28988.700
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
116328.500 |
86593.800 |
74091.300 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
43111.700 |
29769.200 |
21704.100 |
|
|
|
Other Income |
640.200 |
208.200 |
679.400 |
|
|
|
TOTAL (A) |
43751.900 |
29977.400 |
22383.500 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of traded goods |
3984.600 |
1052.600 |
2986.200 |
|
|
|
Manufacturing and other expenses |
30380.700 |
24555.400 |
14497.900 |
|
|
|
Increase In Stock of Finished Goods and Process Stocks |
(3338.200) |
(3856.700) |
(1014.400) |
|
|
|
TOTAL (B) |
31027.100 |
21751.300 |
16469.700 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
12724.800 |
8226.100 |
5913.800 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5350.800 |
3041.200 |
1318.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
7374.000 |
5184.900 |
4595.500 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3626.100 |
2335.000 |
1619.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3747.900 |
2849.900 |
2975.900 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1274.500 |
966.200 |
989.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2473.400 |
1883.700 |
1986.600 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2766.300 |
2962.000 |
NA |
|
|
|
|
|
|
|
|
|
Add |
Excess
Short Provision of Dividend |
0.000 |
1.700 |
NA |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
200.000 |
0.000 |
NA |
|
|
|
Transfer to Debenture Redemption Reserves |
3001.000 |
1908.300 |
NA |
|
|
|
Dividend |
196.900 |
147.700 |
NA |
|
|
|
Tax on Dividend |
32.700 |
25.100 |
NA |
|
|
BALANCE CARRIED
TO THE B/S |
1809.100 |
2766.300 |
NA |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
14370.600 |
9724.800 |
|
|
|
|
Interest Received on Fixed Deposits |
74.500 |
25.100 |
|
|
|
TOTAL EARNINGS |
14445.100 |
9749.900 |
9690.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
Raw Materials |
5054.300 |
1514.200 |
NA |
|
|
|
Stores & Spares |
772.500 |
341.400 |
NA |
|
|
|
Capital Goods |
3175.600 |
5848.700 |
NA |
|
|
|
TOTAL IMPORTS |
9002.400 |
7704.300 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.57 |
8.85 |
11.40 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
5.65
|
6.28
|
8.87 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.69
|
9.57
|
13.71 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.40
|
4.38
|
4.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.16
|
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.14
|
4.07
|
4.73
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
8.83
|
5.37
|
7.06
|
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE
During the financial year, the company recorded sales of Rs. 43111.700
millions (increase of 44.82%) and profit before tax of Rs.3747.900 millions
(increase 31.51%) over the previous year. The company export (including
incentives) increased 47.84% - from Rs.10545.000 millions in 2008-2009 to
Rs.15589.900 millions during the year.
All the divisions of the company recorded growth. The sales performance
of all the divisions of the company, their share in the overall business and
their growth over last year.
FORM 8
|
Corporate
identity number of the company |
L17110DN1986PLC000334 |
|
Name of the
company |
ALOK INDUSTRIES LIMITED |
|
Address of the
registered office or of the principal place of business in |
17/5/1, 521/1, Village
Rakholi, Saily, Silvassa, Dadar Nagar Haveli 396230, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
Export Import
Bank of |
|
Nature of
instrument creating charge |
Memorandum of
Entry dated recording mortgage by way of constructive delivery of title deeds
with IDBI Bank Limited, IDBI acting as an agent of Export-Import Bank of
India (Exim Bank) over the immovable properties of Alok Industries Limited
(the company) situate at (1) Saily-Silvassa (2) Rakholi – Silvassa (3)
Vasona-Silvassa (4) Dapada-Silvassa (5) Velugam-Silvassa in the Union
Territory of Dadra and Nagar Haveli, |
|
Date of
instrument Creating the charge |
01.07.2010 |
|
Amount secured by
the charge |
Rs.400.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest Rate for
both the Loans is 9% p.a. with monthly rests subject to rest in terms of the
respective Loan Agreements dated 09.12.2006 executed between the Company and
Exim Bank. Terms of repayment The loans shall
be repaid in 32 equal installments commencing from 01.04.2008 or such other
dated close to that date as may be advised by Exim Bank at the time of making
the first disbursement, unless the company shall repay the loans in pursuance
of the respective loan agreements dated 09.12.2009. Extent and operation of the charge A charge created
by way of mortgage over the company’s new immovable properties situate
at (1) Saily-Silvassa (2) Rakholi –
Silvassa (3) Vasona-Silvassa (4) Dapada-Silvassa (5) Velugam-Silvassa in the
Union Territory of Dadra and Nagar Haveli, shall rank as first pari passu in
favour of Exim Bank. |
|
Short particulars
of the property charged (Including location of the property) |
1.immovable
properties of the Company situate at (i) Village Saily
of the (ii) Village
Rakholi of the Union Territory of Dadra and Nagar Haveli (iii) Village
Vasona of the (iv) Village
Dapada of the (v) Village
Velugam of the Union Territory of Dadra and Nagar Haveli. |
|
Charge
identification number of the charge to be modified |
10036288 |
|
Date of
instrument modifying the charge |
30.09.2009 |
|
Particulars of
the present modification |
Tem loan facilities
of Rs.400.000 millions (LTWC of Rs.155.000 millions and EOU loan of Rs.
245.000 millions) are now additionally secured by mortgage over the Company’s
properties situate at (1) Saily-Silvassa (2) Rakholi – Silvassa (3)
Vasona-Silvassa (4) Dapada-Silvassa (5) Velugam-Silvassa in the Union
Territory of Dadra and Nagar Haveli, recorded with IDBI thereby enlarging the
existing charge over its entire movable fixed assets and immovable
properties. |
FIXED ASSESTS
·
· Leasehold land
·
· Office premises
· Plant and machinery
· Computer and Peripherals
· Office equipments
· Furniture and fittings
· Vehicles
· Tools and Equipment
WEB SIDE DETAILS
HISTORY
Subject was
established in 1986 as a private limited company, with their first polyester
texturising plant being set up in 1989. They became a public limited company in
1993. Over the years, they have expanded into weaving, knitting, processing,
home textiles and garments. And to ensure quality and cost efficiencies we have
integrated backward into cotton spinning and manufacturing partially oriented
yarn through the continuous polymerisation route. They also provide embroidered
products through Grabal Alok Impex Limited, their associate company.
That is how we
have evolved into a diversified manufacturer of world-class home textiles,
garments, apparel fabrics and polyester yarns, selling directly to
manufacturers, exporters, importers, retailers and to some of the world’s top
brands.
Subject has
recently entered the domestic retail segment through a wholly owned subsidiary,
Alok Retail India Limited, with a chain of stores named ‘H&A’ that offer
garments and home textiles at attractive price points.
They have also
ventured into the realty space through wholly owned subsidiaries with
investments in some prestigious projects in Mumbai.
OUR VISION
To be the world's
best integrated textile solutions enterprise with leadership position across
products and markets, exceeding customer & stakeholder expectation.
OUR
They will:
- Offer innovative, customised and value
added services to their customers
- Actively explore potential markets and
products
- Optimise use of all resources
- Maximise people development initiatives
- Become a process driven organisation
- Be a knowledge leader and an innovator
in their businesses
- Exceed compliances and global quality
standards
- Be an ethical, transparent and
responsible global organisation
NEWS
Indian Textile
& Apparel Industry : Brightest Future Ever
They, at Subject,
have always been strongly convinced about the prospects of the Indian textile
and apparel sector.
The Indian Textile Industry is now on the threshold of unprecedented growth and
it will not be an exaggeration to state that this decade (2011-2020) belongs to
their Textile Industry. This view is shared by Technopak, leading Textile
consultants, who in their recently published Report state that while the Global
Textile Trade is expected to grow from USD 510 bn (2009) to USD 1000 bn (2020),
the Indian Textile Industry during the same period would more than treble from
the present size of USD 70 bn (around USD 47 billion domestic and USD 23
billion exports) in 2009 to USD 220 bn (around USD 140 billion domestic and USD
80 billion exports) by 2020.
Some of the major
growth drivers for this rapid growth in Indian textile and apparel sector are:
- Supply from US and EU is declining
gradually and shifting towards low cost Asian countries,
- EU share is expected to come down
further from its present share of about 30%;
- Overseas buyers are looking at
de-risking their sourcing from
- Growing domestic Per capita income,
growth in population, improving demographics, increased penetration of
organised retail, etc is likely to boost the consumption of textiles in
the domestic market.
In their 2nd Technopak Leadership Forum (Textile & Apparel) held on 3
September 2010 in Mumbai, Technopak released an Industry Report titled “Indian
Textile and Apparel Compendium 2010”. This Report details Indian domestic
textile and apparel industry, current domestic market size, market segmentation
for apparel, future projections for 2015 and 2020 for domestic and exports
market, investments required in this sector over next 10 years etc. According
to this Report, this decade is expected to be the brightest ever for Indian
Textile and Apparel Industry and size of this Industry is estimated to be
around USD 220 billion in the year 2020.
Arvind Singhal (Chairman, Technopak) also
delivered a presentation during the Forum titled “Indian Textile and Apparel
Industry: Brightest Future Ever”. This presentation includes the changing face
of global textile trade, growth opportunities for
It is their pleasure to share with the these two Reports on the Textile and
Apparel industry of
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.45.59 |
|
|
1 |
Rs.72.31 |
|
Euro |
1 |
Rs.60.73 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
-- |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
41 |
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.