1. Summary Information
|
|
|
Country |
|
|
Company Name |
AMD INDUSTRIES LIMITED |
Principal Name 1 |
Mrs. Harswarup Gupta |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Prabhat Krishna |
|
|
|
Registration # |
55-17141 |
|
Street Address |
18, |
||
|
Established Date |
17.12.1983 |
SIC Code |
-- |
|
Telephone# |
91-11-46830202 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-11-28753591 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Crown Corks |
|
|
# of employees |
350 (Approximately) |
Product Name 2 |
Pet Performs |
|
Paid up capital |
Rs.
191,667,000/- |
Product Name 3 |
CSD Plastic Closures |
|
Shareholders |
Shareholding
of Promoter and Promoter Group 59.90%, Public Shareholding 40.10% |
Banking |
State Bank of |
|
Public Limited Corp. |
Yes |
Business Period |
28 Years |
|
IPO |
Yes |
International Ins. |
- |
|
Public |
Yes |
Rating |
Ba
(44) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiary
|
-- |
AMD Estates and Developers Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,075,475,000 |
Current Liabilities |
327,449,000 |
|
Inventories |
306,133,000 |
Long-term Liabilities |
707,896,000 |
|
Fixed Assets |
920,632,000 |
Other Liabilities |
241,862,000 |
|
Deferred Assets |
000 |
Total Liabilities |
1,277,207,000 |
|
Invest& other Assets |
55,726,000 |
Retained Earnings |
889,092,000 |
|
|
|
Net Worth |
1,080,759,000 |
|
Total Assets |
2,357,966,000 |
Total Liab. & Equity |
2,357,966,000 |
|
Total Assets (Previous Year) |
|
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
1,017,315,000 |
Net Profit |
65439,000 |
|
Sales(Previous yr) |
803,068,000 |
Net Profit(Prev.yr) |
33,934,000 |
MIRA
INFORM REPORT
|
Report Date : |
07.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
AMD INDUSTRIES LIMITED (w.e.f. December 2007) |
|
|
|
|
Formerly Known As : |
AMD METPLAST PRIVATE LIMITED |
|
|
|
|
Registered Office : |
18, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
17.12.1983 |
|
|
|
|
Com. Reg. No.: |
55-17141 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 191.667
millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
L28122DL1983PLC017141 |
|
|
|
|
TAN No.: [Tax Deduction & Collection Account No.] |
DELA16340C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA2843C |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are listed on
the Stock Exchange. |
|
|
|
|
Line of Business : |
Manufacturing and Packaging Solutions such as cocks, Plastic Closures,
crown caps etc. |
|
|
|
|
No. of Employees : |
350 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Payments are reported to be usually correct. 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) |
|
|
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 : |
18, |
|
Tel. No.: |
91-11-46830202 |
|
Fax No.: |
91-11-28753591 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
4000 Sq. fts. |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
C-4 and C-5, |
|
Tel No.: |
91-11-28758645/ 28750649 |
|
|
|
|
Factory 2: |
SP-32, RIICO Industrial Area, Neemrana, Rajasthan |
|
|
|
|
Factory 3 : |
C-10, Site 3, |
|
|
|
|
Regional Offices: |
|
|
|
802, “Rajman” 7th Cross, 4th Block, V.R. Pura,
Bellayout, Banalore-560097, |
|
E Mail : |
|
|
|
|
|
|
231, Sreepuram Colony, Malakpeto, Hyderabad-500036, |
|
E Mail: |
|
|
|
|
|
Mumbai Office: |
Sri Krishna Society, Building No. 2, Flat No. 4, Ground Floor, Near
Amber Hotel, Shahad Railway Station, Kalyan West, Mumbai, Maharashtra, India |
|
E Mail: |
DIRECTORS
As On : 31.03.2010
|
Name : |
Mrs. Harswarup Gupta |
|
Designation : |
Executive Chairman |
|
Date of Birth/ age: |
79 Years |
|
Qualification: |
Graduate |
|
Experience: |
49 Years |
|
Date of Appointment : |
01.07.2006 |
|
Other directorship: |
Own Business |
|
|
|
|
Name : |
Mr. Prabhat Krishna |
|
Designation : |
Independence Director |
|
Qualification: |
B.Tech. (Chem) and retired Banker from State Bank of |
|
Date of Appointment: |
30.06.2009 |
|
|
|
|
Name : |
Mr. Ashok Gupta |
|
Designation : |
Managing Director |
|
Date of Birth/ Age: |
55 Years |
|
Qualification: |
B.Sc. (Hons) |
|
Experience: |
31 Years |
|
Date of Appointment: |
17.12.1983 |
|
Other Directorship: |
Own Business |
|
|
|
|
Name : |
Mr. Adit Gupta |
|
Designation : |
Whole time Director |
|
Date of birth/ Age: |
29 Years |
|
Qualification: |
B.Sc. (Chemical Engineer) and MBA Finance |
|
Experience: |
9 Years |
|
Date of Appointment: |
14.11.2005 |
|
|
|
|
Name : |
Mr. Mahipal Ahluwalia |
|
Designation : |
Independent Director |
|
|
|
|
Name : |
Mr. Seshadri Ratnam |
|
Designation : |
Independent Director |
KEY EXECUTIVES
|
Name : |
Mr. Tilak Sethi |
|
Designation : |
Secretary and Compliance Officer |
|
Date of Appointment : |
28.07.2010 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2011
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
|
|
|
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
10,595,569 |
55.28 |
|
|
884,400 |
4.61 |
|
|
11,479,969 |
59.90 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
11,479,969 |
59.90 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
1,892,409 |
9.87 |
|
|
|
|
|
|
4,561,659 |
23.80 |
|
|
1,128,752 |
5.89 |
|
|
103,960 |
0.54 |
|
|
98,853 |
0.52 |
|
|
5,067 |
0.03 |
|
|
40 |
- |
|
|
7,686,780 |
40.10 |
|
Total Public shareholding (B) |
7,686,780 |
40.10 |
|
Total (A)+(B) |
19,166,749 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs. 0.100 Million BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Packaging Solutions such as cocks, Plastic Closures,
crown caps etc. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (As On 31.03.2010)
|
Particulars |
Unit |
Actual
Production |
|
Crowns |
Cases |
123540.67 |
|
CSD Closures |
Nos. |
446765369 |
|
Pet Pre Form |
Nos. |
117311500 |
|
Resin Consumed in above production Job Work undertaken for Pet Perform
Resin Consumed |
Mt |
4749.069 |
GENERAL INFORMATION
|
Customers : |
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
350 (Approximately) |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
State Bank of ·
Punjab National Bank ·
Union Bank of ·
Kotak Mahindra Bank |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
Note Notes : 1. Term Loan
includes Rs. 203.134 millions from Punjab National Bank, which is Secured
against first pari passu charge on fixed assets excluding Land and Building
at C-10, Site-3,Meerut Road Industrial Area, 2. Term Loan
includes Rs. 2279.97 Lac from Union Bank of India, which is Secured against
parri passu charge on fixed assets excluding Land and Building at C-10,
Site-3, Meerut Road Industrial Area, Ghaziabad, U.P. ,Land at Haridwarand the
securities mentioned at Note No.3, 4 and 5 below. The same is also secured by
2nd pari passu charge on current assets and by Corporate Guarantee and Land
and Building of Other Company and personal guarantee of Directors 3. Term Loan
includes Rs. 5.245 millions from ICICI Bank Limited and Kotak Mahindra Bank
Limited, which is Secured by Hypothecation of Vehicles acquired out of the
loan. 4. Term Loan
includes Rs. 23.984 millions from ICICI Bank Limited, which is Secured by
Mortgage of Company's Immovable Properties acquired out of the loan. 5. Term Loan
includes Rs. 24.973 millions from Indiabulls Housing Finance Limited, which
is Secured by Mortgage of Company's Immovable Properties at Mohali acquired
out of the loan. 6. Term Loan
includes Rs.22.422 millions from Standard Chartered Bank, which is Secured by
Personal Guarantee of the Directors. 7. Cash Credit and
Other Working Capital Borrowings of Rs. 174.484 millions from State Bank of
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Suresh and Associates Chartered Accountants |
|
Address : |
3A, Big Jo’s Tower, |
|
|
|
|
Internal Auditor: |
|
|
Name : |
B.L. Khandelwal and Company Chartered Accountant |
|
Address : |
1, Doctor’s Lane, Gole Market, New Delhi-110001, |
|
|
|
|
Subsidiaries : |
Ø AMD Estates and
Developers Private Limited Ø Prime Techno
Build Private Limited |
CAPITAL STRUCTURE
As On : 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000000 |
Equity Shares |
Rs. 10/- each |
Rs. 250.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
19166749 |
Equity Shares |
Rs. 10/- each |
Rs. 191.667
millions |
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 |
191.667 |
191.668 |
191.667 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
889.092 |
846.077 |
834.566 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1080.759 |
1037.745 |
1026.233 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
682.239 |
450.384 |
407.468 |
|
|
2] Unsecured Loans |
25.657 |
24.763 |
20.455 |
|
|
TOTAL BORROWING |
707.896 |
475.147 |
427.923 |
|
|
DEFERRED TAX LIABILITIES |
80.339 |
64.194 |
46.276 |
|
|
|
|
|
|
|
|
TOTAL |
1868.994 |
1577.086 |
1500.432 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
920.632 |
666.311 |
710.542 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
55.531 |
56.124 |
56.213 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
306.133
|
215.688
|
153.725
|
|
|
Sundry Debtors |
203.777
|
206.495
|
123.776
|
|
|
Cash & Bank Balances |
59.058
|
20.419
|
39.190
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
812.640
|
658.031
|
632.548
|
|
Total
Current Assets |
1381.608
|
1100.633 |
949.239 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
266.301
|
165.043 |
|
|
|
Other Current Liabilities |
61.148
|
25.086
|
216.587
|
|
|
Provisions |
161.523
|
57.158
|
0.000
|
|
Total
Current Liabilities |
488.972
|
247.287 |
216.587 |
|
|
Net Current Assets |
892.636
|
853.346
|
732.652
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.195 |
1.305 |
1.025 |
|
|
|
|
|
|
|
|
TOTAL |
1868.994 |
1577.086 |
1500.432 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1017.315 |
803.068 |
775.709 |
|
|
|
Job Work |
94.872 |
92.240 |
0.000 |
|
|
|
Other Income |
56.921 |
38.761 |
73.841 |
|
|
|
TOTAL (A) |
1169.108 |
934.069 |
849.550 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
698.196 |
526.249 |
0.000 |
|
|
|
Raw Material Consumed |
0.000 |
0.000 |
321.707 |
|
|
|
Cost of Goods sold |
0.000 |
15.052 |
224.891 |
|
|
|
Manufacturing Expenses |
110.483 |
93.922 |
67.685 |
|
|
|
Increase/(Decrease) in Finished Goods |
(13.099) |
(0.432) |
24.230 |
|
|
|
Selling and Distribution Expenses |
52.865 |
43.976 |
31.115 |
|
|
|
Miscellaneous expenses written off |
1.162 |
0.266 |
0.297 |
|
|
|
Administrative Expenses |
74.338 |
57.790 |
47.167 |
|
|
|
TOTAL (B) |
923.945 |
736.823 |
717.092 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
245.163 |
197.246 |
132.458 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
82.190 |
79.686 |
50.773 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
162.973 |
117.560 |
81.685 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
54.959 |
47.873 |
37.716 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
108.014 |
69.687 |
43.969 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
42.575 |
35.753 |
11.706 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
65.439 |
33.934 |
32.263 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
2.500 |
5.000 |
NA |
|
|
|
Dividend |
19.167 |
19.166 |
NA |
|
|
|
Tax on Dividend |
3.257 |
3.257 |
NA |
|
|
BALANCE CARRIED
TO THE B/S |
40.515 |
6.511 |
NA |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
109.967 |
52.199 |
43.567 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
289.744 |
300.636 |
134.504 |
|
|
|
Component and Spare Parts |
4.200 |
3.838 |
1.941 |
|
|
|
Capital Goods |
181.590 |
2.532 |
88.256 |
|
|
|
Purchase of Trading Goods |
11.922 |
0.000 |
41.071 |
|
|
TOTAL IMPORTS |
487.456 |
307.006 |
265.772 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.41 |
1.77 |
1.56 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2010 |
30.09.2010 |
31.12.2010 |
31.03.2011 |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
4th
Quarter |
|
Net Sales |
483.880 |
260.560 |
251.200 |
366.320 |
|
Total Expenditure |
385.880 |
225.300 |
239.360 |
301.110 |
|
PBIDT (Excl OI) |
98.000 |
35.260 |
11.840 |
65.210 |
|
Other Income |
13.560 |
15.160 |
18.540 |
8.590 |
|
Operating Profit |
111.560 |
50.420 |
30.380 |
73.800 |
|
Interest |
30.010 |
21.200 |
27.170 |
38.000 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
PBDT |
81.550 |
29.220 |
3.220 |
35.800 |
|
Depreciation |
20.450 |
15.630 |
18.300 |
17.630 |
|
Profit Before Tax |
61.100 |
13.580 |
(15.080) |
18.170 |
|
Tax |
7.500 |
7.500 |
7.500 |
(4.430) |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
53.600 |
6.080 |
(22.580) |
22.600 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
(1.970) |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
53.600 |
6.080 |
(22.580) |
20.630 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
5.60
|
3.63
|
3.80
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.62
|
8.68
|
5.67
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.69
|
3.94
|
2.65
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.07
|
0.04
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.18
|
0.76
|
0.63
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.83
|
4.45
|
4.38
|
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS REVIEW
Packaging
Business:
During the year
the Company registered a total turnover and other income of Rs.1182.206
millions as compared to previous year's turnover and other income of Rs.
934.502 millions an increase of 26.51%. The Company registered a Profit before
Depreciation S Taxation of Rs. 245.163 millions as compared to Rs 197.247
millions recording a growth of 24.29% whereas Net Profit at Rs. 65.439 millions
as compared to Rs. 33.935 millions the previous year, which shows increase of
92.84%. The top line growth was possible due to the business growth in the
beverage industry as a whole, however, cut throat competitions and financials
costs contributed to a marginal growth in the profit margins. The growth in the
beverage industry is expected to maintain this year with contributory benefits
accruing to the packaging business of the Company like previous year.
Pursuant to the
approval of the Board of Directors at its meeting held on 24" April, 2009,
the Company has completed its expansion programmed at its works at Neemrana,
Rajasthan and the new PET Preform line of the Company has started its
commercial production on 18" February, 2010 and the Closure Line has
started its commercial production on 10" March, 2010.
Textile Business:
The market
scenario for the textile industry in the country as a whole remained
continuously discouraging, accordingly, the Company remained on the same policy
of putting on hold the Textile project.
Real Estate
Business:
The real estate
market of the country has started picking up and to start with in the
residential sector. Since the Company owns its interest in commercial land
situated at Gurgaon, Haryana, the Company expects finalization of the
negotiations with any builder for developing the said land in the last quarter
of this year.
MANAGEMENT
DISCUSSION ANDANALYSIS
The
Company has put in efforts to strengthen its place in terms of Country's share
for providing packaging range to the soft drinks and other beverages industry
by expanding its capacities at Neemrana, Rajasthan by installing a PET Preform
Line and a Closure Line.
The
Company continued catering to the packaging needs of Beverages Industry of the
country by way of supplying packaging for carbonated soft drinks (CSD), mineral
waters, beer and other alcoholic beverages, juices, sauces, ready-to-drink milk
products etc. Major chunk of Company's supply remained to Cold Drinks Industry
which is growing at about 30-35% per annum and alcoholic beverages industry
mainly beer which is growing at a rate of about 15-20% per annum. The Company's
vision with regard to new market segments such as fruit juices, milk products,
edible oil and other cosmetics items which is slowly moving to packaging items
remained the same and the Company is capable of manufacturing of those
packaging. The Company therefore, expects development of new market segments in
the years to come.
Due to
adverse market scenario of Textile Industry in
INDUSTRY
SECTORS
PACKAGING
The
packaging industry supplying packing solutions to beverages industry are mainly
divided into two formats viz., PET Bottles and Glass Bottles. PET Bottles are
also divided into two segments such as Plastic Closures and PET Preforms.
Plastic Closures are mainly used in plastic bottles like CSD PET Bottles,
mineral water and juices. The requirements of closures with respect to design
and quality depend upon the need of the end-user. PET Bottles required by the
Beverages Industry are being manufactured and supplied by the Packaging
Industry in Preforms shapes and being blown up at the time of filling
beverages. Various other end-users have started using plastic bottles as
packaging medium. The usage of PET Bottles shows an increasing trend in
products like edible oil, personal care products, Pharmaceuticals and
confectioneries. The usage of PET Bottles in Alcoholic Beverages Industry is
also on the rise.
Glass
bottles used as a packaging item requires crown caps for closure. The Company
manufactures Crown Caps which are mainly used as metallic closures for various
edible items packed in glass bottles e.g. Carbonated Soft Drinks, Beer, Juices,
Sauces, Ready-to-drink Milk products etc.
REAL
ESTATE
The
Real Estate market is mainly divided into two zones one is the residential and
the other is commercial. The company possesses interest in Commercial land.
OUTLOOK
PACKAGING
The
Overall Beverage Packaging Industry is growing at over 30% per annum. The
continued trend of shifting customer base from glass bottles to PET Bottles is
being seen in a positive note. Extended summers are turning out to be bonuses
for the Company for meeting the increased costs of operations. The Company
being manufacturing all the three products as a packaging solutions to the
Beverage Industry viz., PET Preforms, CSD Closures and Crown Caps, enjoys a
respectable market share.
Segment
Wise/ Product Wise Review
CROWN
CAPS
The
crown market has been continuously recording negative growth due to lesser
usage of glass bottles as a packaging item. In order to utilize the excess
capacity in the crown segment of the company, the Company is making vigorous
efforts to explore the export market. This has recorded in the export sales
increase from Rs. 52.200 millions to Rs. 110.000 millions. Efforts are being continued
to increase the share of exports further. However, AMD remained one of the
dominant players in the crown caps market during the year.
PLASTIC
CLOSURES
The
plastic closure market has continued getting its momentum due to increased
usage of PET Bottles. The organized market is still dominated by the CSD but it
is expected that other usage will also form significant share of the overall
market. With the expansion of putting up of one line of Closure at Neemrana,
Rajasthan.AMD has maintained its market share. The demand of plastic closures
will increase in segments where PET Bottles are gaining foothold as packaging
media like water, juices, edible oil etc.
PET
PREFORMS
With
the expansion of putting up of one line of Preform, AMD enjoys a respectable market
share.
Unaudited financial results (PROVISIONAL) for the SECOND Quarter
ended SEPTEMBER 30, 2010
(Rs. in millions)
|
Particulars |
30.09.2010 (Unaudited) |
30.09.2010 (Unaudited) |
|
Net Sales/Income from Operations |
235.620 |
676.478 |
|
Job Work |
24.937 |
67.954 |
|
Other Operating Income |
15.164 |
28.719 |
|
Total Income |
275.721 |
773.151 |
|
Expenditure |
|
|
|
(Increase)/decrease in stock in trade and work-in
Progress |
(21.032) |
(13.447) |
|
Consumption of raw materials |
182.645 |
476.228 |
|
Purchase of Traded Goods |
0.032 |
0.032 |
|
Employee Cost |
16.561 |
33.018 |
|
Depreciation |
15.630 |
36.079 |
|
Other Expenditure |
47.098 |
115.349 |
|
Total Expenditure |
240.934 |
647.259 |
|
Interest |
21.203 |
51.208 |
|
Profit before Tax |
13.584 |
74.684 |
|
Tax Expenses
(including current tax, deferred taxation, fringe benefit tax and prior
period adjustments for the period) |
7.500 |
15.000 |
|
Net Profit
for the period |
6.084 |
59.684 |
|
Paid- up Equity
Share Capital (Face value
of the share – Rs. 10) |
191.667 |
191.667 |
|
Reserves
excluding revaluation reserves (as per last audited balance sheet) |
889.092 |
889.092 |
|
Basic and diluted
Earnings per share for the period, for the year to date (not annualized) and
for the previous year – Rs. |
0.32 |
0.32 |
|
Public
shareholding |
|
|
|
Number of
Shares |
7912999 |
7912999 |
|
Percentage of Shareholding |
41.29 |
41.29 |
|
Promoters and
promoter group shareholding |
|
|
|
Non -
encumbered Number of
Shares Percentage of
Shares (as a % of
the total shareholding of promoter and promoter
group) Percentage of
Shares (as a % of
the total share capital of the company) |
11253750 100.00 58.71 |
11253750 100.00 58.71 |
UNAUDITED
FINANCIAL RESULTS (PROVISIONAL) FOR THE SECOND QUARTER ENDED 30TH
SEPETEMBER, 2010
|
Sl. No. |
|
Particulars |
Quarter Ended |
Quarter Ended |
|
|
30.09.2010 |
30.09.2010 |
||
|
|
(Un-audited) |
(Un-audited) |
||
|
1 |
|
Segment Revenue |
|
|
|
|
|
|
|
|
|
|
|
a) Segment – A (Packaging Division) |
260.557 |
744.432 |
|
|
|
b) Segment – B (Trading Division) |
0.000 |
0.000 |
|
|
|
c) Segment – C (Textile Division) |
0.000 |
0.000 |
|
|
|
d) Segment – D (Real Estate Division) |
0.000 |
0.000 |
|
|
|
Total |
260.557 |
744.432 |
|
|
|
|
|
|
|
|
|
Less : Inter Segment Revenue (Net of Excise) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Net Sales / Income
from Operation |
260.557 |
744.432 |
|
|
|
|
|
|
|
2 |
|
Segment Results (Net Profit(+)/Loss(-) before Tax & Interest from each Segment) |
|
|
|
|
|
|
|
|
|
|
|
a) Segment – A (Packaging Division) |
20.608 |
99.072 |
|
|
|
b) Segment – B (Trading Division) |
0.000 |
0.000 |
|
|
|
c) Segment – C (Textile Division) |
0.000 |
0.000 |
|
|
|
d) Segment – D (Real Estate Division) |
(0.985) |
(1.899) |
|
|
|
e) Other Income |
15.164 |
28.719 |
|
|
|
Total |
34.787 |
125.892 |
|
|
|
|
|
|
|
|
|
Less :Interest |
21.203 |
51.208 |
|
|
|
Less : Other Un-allocable Expenses and Extra Ordinary Items |
0.000 |
0.000 |
|
|
|
Net of Un-allocable Income |
0.000 |
0.000 |
|
|
|
Net Profit (+) /
Loss(-) before Tax |
13.584 |
74.684 |
|
|
|
|
|
|
|
3 |
|
Capital Employed (Segment Assets - Segment Liabilities) |
|
|
|
|
|
a) Segment – A (Packaging Division) |
551.621 |
551.621 |
|
|
|
b) Segment – B (Trading Division) |
0.000 |
0.000 |
|
|
|
c) Segment – C (Textile Division) |
174.046 |
174.046 |
|
|
|
d) Segment – D (Real Estate Division) |
414.549 |
414.549 |
|
|
|
e) Segment – E (Others / Unallocable) |
0.000 |
0.000 |
|
|
|
Total |
1140.216 |
1140.216 |
Notes:
1- The above results have been taken on record by the Board of Directors
at its meeting held on 29th October, 2010 duly approved and recommended by the
Audit Committee at its meeting held on 29th October, 2010.
2- The Company
received one complaint during the quarter ended 30th September, 2010 and the
same has been
resolved,
therefore no complaint is pending as at the quarter ended on 30th September,
2010.
3- The packaging
business of the Company is a seasonal business, as such, the performance of the
business may not be representative of the annual performance of the Company.
4- Deferred tax liability as per Accounting Standard "AS-22"
shall be calculated at the year end.
5- Previous periods' figures have been regrouped and re classified
wherever necessary.
6- The company through its subsidiary AMD Estates & Developers has
entered into a Collaboration Agreement on 22.10.2010 with VSR Infratech (P) Limited
for the Joint Development of commercial land at Sector -114, Gurgaon, Haryana.
The Developer is proposed to build a high end 'A' Class building on the said
land.
7- Pursuant to the approval of Board of Directors at its meeting held on
28.07.2010 the expansion work for the addition of 5th PET Preform Line at
Neemrana Plant is under progress.
8- The project at Haridwar, Uttrakhand is continued to be kept on hold
because of adverse market circumstances.
9- Statement of Assets and Liabilities pursuant to amended Clause 41 of
the Listing Agreement is appended hereunder.
WEB SIDE DETAILS
PROFILE:
The AMD Group
v AMD group founded in 1958 is one of the leading business houses in the field of packing solutions. They provide packing solutions to most of the successful and well established companies engaged in beverages, liquor and processed foods ranging from small ventures to top multinationals.
v They ensure and take great pride in highlighting transparency in all the Business dealings and are constantly guided by stringent corporate governance norms and a clear cut business philosophy .
v They continue to pioneer in the development of wide ranging packaging products for various household consumption needs, by innovating and creating value added products to satisfy the customers, equity stake holders, employees, vendors and other Business associates.
COMPANY PROFILE
:
AMD Group is a conglomerate of a group of companies engaged primarily in the
manufacturing of packaging articles being used in soft drinks, Beverages, water, beer,
liquor and pharmaceutical industries.
They are the only company in
With humble beginning in 1958 as a trading company, the
group is now
Board of Directors
Mr.
H.S. Gupta (Executive Chairman)
Mr. H.S. Gupta, one of the founder promoters, has been associated
with the packaging industry for more than 47 years. Mr. H.S. Gupta is
holding Directorships in various other Companies. Mr. H.S. Gupta has played a
vital role in the growth of the company.
Mr.
Ashok Gupta (Managing Director)
Mr. Ashok Gupta is on the Board of the Company since its
incorporation and managing its day to day affairs since its incorporation in
the year 1983. Mr. Ashok Gupta, a Bachelor of Science, is the son of Mr.
H.S. Gupta. Mr. Ashok Gupta is associated with the packaging industry
since 1974. He started his business under one firm i.e. Shyam Industries
which was engaged in the business of manufacturing of pilfer proof Aluminum
caps mainly used by liquor industry
Mr.
Adit Gupta (Whole Time Director)
Mr. Adit Gupta, son of Shri Ashok Gupta, joined the
Board of the Company since June, 2006. Mr. Adit Gupta, alumnus of
Mr.
Mahipal Ahluwalia (Independent Director)
Mr. Mahipal Ahluwalia is the renowned Supreme Court
Lawyer. He is into diversified litigations of Supreme Court and High
Courts for the last 30 years.
Mr.
Seshadri Ratnam (Independent Director)
Mr. Seshadri Ratnam, a Science Graduate in Physics and a FCA
from The Institute of Chartered Accountants of England and Wales, London, U.K,
has over 35 years of rich experience in Corporate Laws, Finance and
Taxation. He also held the position of Director Finance of
Uttaranchal Jal Vidyut Nigam Limited. He also served as Director Finance
in Bharti Telecom.
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.44.72 |
|
|
1 |
Rs.73.46 |
|
Euro |
1 |
Rs.65.47 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
44 |
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.