1. Summary Information
|
|
|
Country |
|
|
Company Name |
Kalpena
Industries Limited |
Principal Name 1 |
Mr. D C Surana |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. N S Surana |
|
|
|
Registration # |
21-039431 |
|
Street Address |
2 B, |
||
|
Established Date |
03.09.1985 |
SIC Code |
-- |
|
Telephone# |
91-33-22823744/ 3745 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-33-22823739 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
PVC Compound |
|
|
# of employees |
Not Available |
Product Name 2 |
XLPE Compound |
|
Paid up capital |
Rs.115,536,000/- |
Product Name 3 |
PVC Sole |
|
Shareholders |
Promoter and Promoter Group-73.18% Public Shareholding-26.82% |
Banking |
State Bank of |
|
Public Limited Corp. |
YES |
Business Period |
26 Years |
|
IPO |
YES |
International Ins. |
- |
|
Public |
YES |
Rating |
Ba
(51) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,787,782,000 |
Current Liabilities |
486,002,000 |
|
Inventories |
558,779,000 |
Long-term Liabilities |
1,366,611,000 |
|
Fixed Assets |
735,951,000 |
Other Liabilities |
73,936,000 |
|
Deferred Assets |
0 |
Total Liabilities |
1,926,549,000 |
|
Invest& other Assets |
68,501,000 |
Retained Earnings |
979,518,000 |
|
|
|
Net Worth |
1,224,464,000 |
|
Total Assets |
3,151,013,000 |
Total Liab. & Equity |
3,151,013,000 |
|
Total Assets (Previous Year) |
2,592,025,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
7,188,042,000 |
Net Profit |
299,063,000 |
|
Sales(Previous yr) |
6,029,631,000 |
Net Profit(Prev.yr) |
218,515,000 |
MIRA
INFORM REPORT
|
Report Date : |
04.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
KALPENA INDUSTRIES LIMITED |
|
|
|
|
Registered Office : |
2 B, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
03.09.1985 |
|
|
|
|
Com. Reg. No.: |
21-039431 |
|
|
|
|
Paid-up Capital : |
Rs.115.536 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
L19202WB1985PLC039431 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CALK03269A |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCK2239D |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The company’s Shares are listed on
stock exchange. |
|
|
|
|
Line of Business : |
Manufacturer of PVC Compound and XLPE Compound. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4800000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having satisfactory 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. 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 : |
2 B, |
|
Tel. No.: |
91-33-22823744/ 3745 |
|
Fax No.: |
91-33-22823739 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Village – Bhasa,
No.14,P.O.and P.S. Bishnupur, Dimond Harbour Road, South 24 Parganas, W.B.-
743503, India. |
|
|
|
|
Factory 2 : |
168/151-158, Dhabel
Industrial Co- Operative Soceity Limited, Dhabel, Daman – 396215, |
|
|
|
|
Factory 3 : |
Dadra Work I Survey No.24/3,
Village – Demini, Demini Road, Dadra, Dadra and Nagar Haveli – 396230, |
|
|
|
|
Factory 4 : |
Dadra Work II Survey No.24/5/1/2,
Village – Demini, Demini Road, Dadra, Dadra and Nagar Haveli – 396230, |
|
|
|
|
Factory 5 : |
A/1163, RIICO
Industrial Area – IV, District - Alwar, Bhiwadi - 301 019, |
DIRECTORS
As On 31.03.2010
|
Name : |
Mr. D C Surana |
|
Designation : |
Chairman |
|
Date of Birth/Age : |
74 Years |
|
Experience : |
40 Years |
|
|
|
|
Name : |
Mr. Narendra S. Surana |
|
Designation : |
Vice Chairman Cum Managing Director |
|
Date of Birth/Age : |
48 Years |
|
Qualification : |
B.Com (Hons.), and L.L.B from |
|
|
|
|
Name : |
Mr. Nirmalendu Guha |
|
Designation : |
Non Executive Director |
|
Date of Birth/Age : |
77 Years |
|
Qualification : |
M.Tech (P.Eng
and Mgt.), C.Eng, FIE ( |
|
|
|
|
Name : |
Dr. Premomoy Ghosh |
|
Designation : |
Non- Executive Director |
|
Date of Birth/Age : |
72 Years |
|
Qualification : |
B.Sc. (Hons) M.Sc. (Tech), Phd from |
|
Experience : |
38 Years |
|
|
|
|
Name : |
Dr. Rupak Dasgupta |
|
Designation : |
Non-Executive Director |
|
Date of Birth/Age : |
66 Years |
|
Qualification : |
B.Sc.(Hons),
M.Sc.(Tech) and Phd from |
|
Experience : |
38 Years |
KEY EXECUTIVES
|
Name : |
Mr. Jitendra Tiwari |
|
Designation : |
Senior President |
|
|
|
|
Name : |
Mr. R K Kothari |
|
Designation : |
Senior President |
|
|
|
|
Name : |
Mr. I.C. Dakalia |
|
Designation : |
Chief Financial Officer |
|
|
|
|
Name : |
Mr. M K Jain |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2011
|
Category
of Shareholders |
No. of Shares |
Percentage |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
16,305 |
0.09 |
|
|
13,517,370 |
73.09 |
|
|
13,533,675 |
73.18 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
13,533,675 |
73.18 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
9,700 |
0.05 |
|
|
9,700 |
0.05 |
|
|
|
|
|
|
3,101,667 |
16.77 |
|
|
|
|
|
|
1,466,991 |
7.93 |
|
|
256,426 |
1.39 |
|
|
126,127 |
0.68 |
|
|
126,127 |
0.68 |
|
|
4,951,211 |
26.77 |
|
Total Public shareholding (B) |
4,960,911 |
26.82 |
|
Total (A)+(B) |
18,494,586 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
- |
- |
|
Total (A)+(B)+(C) |
18,494,586 |
- |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs. 0.100 million
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of PVC Compound and XLPE Compound. |
||||||||||
|
|
|
||||||||||
|
Products : |
|
PRODUCTION STATUS (As On 31.03.2010)
|
Particulars |
|
Unit |
Installed
Capacity |
Actual
Production |
|
PVC Compound |
|
MT |
40000 |
39216 |
|
PE Compound |
|
MT |
87000 |
60607 |
|
PVC Sole and Hawai Chappal |
|
Pairs/kg |
8500000 |
5298796 |
|
Scrap |
|
MT |
NA |
1576 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Dena Bank ·
State Bank of ·
Standard Chartered Bank ·
HSBC Bank ·
DBS Bank |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
D.C. Dharewa and Company Chartered Accountants |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12000000 |
Equity Shares |
Rs. 10/- each |
Rs.120.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
11553600 |
Equity Shares |
Rs. 10/-
each |
Rs.115.536
Millions |
After 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30000000 |
Equity Shares |
Rs. 10/- each |
Rs.300.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
18494586 |
Equity Shares |
Rs. 10/- each |
Rs.184.946
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 |
115.536 |
115.536 |
115.536 |
|
|
2] Share Capital Suspense |
9.410 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
979.518 |
600.283 |
408.802 |
|
|
4] Share Warrants |
120.000 |
0.000 |
0.000 |
|
|
5] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1224.464 |
715.819 |
524.338 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
962.939 |
789.543 |
687.305 |
|
|
2] Unsecured Loans |
403.672 |
426.952 |
386.708 |
|
|
TOTAL BORROWING |
1366.611 |
1216.495 |
1074.013 |
|
|
DEFERRED TAX LIABILITIES |
73.936 |
44.763 |
29.381 |
|
|
|
|
|
|
|
|
TOTAL |
2665.011 |
1977.077 |
1627.732 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
735.951 |
516.626 |
542.306 |
|
|
Capital work-in-progress |
47.590 |
32.997 |
1.534 |
|
|
|
|
|
|
|
|
INVESTMENT |
20.911 |
0.882 |
0.882 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
558.779
|
377.724
|
374.282 |
|
|
Sundry Debtors |
1281.014
|
1265.307
|
765.843 |
|
|
Cash & Bank Balances |
122.987
|
107.071
|
86.275 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
383.781
|
291.418
|
221.536 |
|
Total
Current Assets |
2346.561
|
2041.520
|
1447.936 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
216.894
|
225.552
|
|
|
|
Other Current Liabilities |
108.348
|
276.460
|
285.970 |
|
|
Provisions |
160.760
|
112.936
|
78.956 |
|
Total
Current Liabilities |
486.002
|
614.948
|
364.926 |
|
|
Net Current Assets |
1860.559
|
1426.572
|
1083.010 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2665.011 |
1977.077 |
1627.732 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
7188.042 |
6029.631 |
4516.024 |
|
|
|
Other Income |
56.045 |
11.466 |
28.748 |
|
|
|
TOTAL (A) |
7244.087 |
6041.097 |
4544.772 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Expenses |
6332.082 |
5255.334 |
3969.964 |
|
|
|
Administrative, Selling and Other Expenses |
331.485 |
316.696 |
223.420 |
|
|
|
Payment to and Provisions for Employees |
61.753 |
48.639 |
28.408 |
|
|
|
Prior Period Adjustment |
2.116 |
0.365 |
0.982 |
|
|
|
Increase/(Decrease) in Stock |
(42.210) |
15.792 |
(42.837) |
|
|
|
TOTAL (B) |
6685.226 |
5636.826 |
4179.937 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
558.861 |
404.271 |
364.835 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
109.570 |
96.283 |
80.882 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
449.291 |
307.988 |
283.953 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
56.737 |
42.941 |
39.379 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
392.554 |
265.047 |
244.574 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
93.491 |
46.532 |
35.837 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
299.063 |
218.515 |
208.737 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
480.138 |
314.656 |
|
|
|
|
|
|
|
|
|
|
|
BALANCE BROUGHT FORWARD
FROM AMALGAMATING COMPANY |
(3.164) |
0.000 |
|
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
General Reserve |
80.000 |
26.000 |
NA |
|
|
|
Proposed Dividend |
25.418 |
23.106 |
|
|
|
|
Tax on Proposed Dividend |
4.222 |
3.927 |
|
|
|
BALANCE CARRIED
TO THE B/S |
666.397 |
480.138 |
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
265.452 |
275.040 |
1115.539 |
|
|
|
Commission Earnings |
|
|
|
|
|
|
Other Earnings |
|
|
|
|
|
TOTAL EARNINGS |
265.452 |
275.040 |
1115.539 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2036.183 |
1163.909 |
1134.887 |
|
|
|
Stores & Spares |
0.561 |
0.305 |
0.730 |
|
|
|
Capital Goods |
69.731 |
17.362 |
40.041 |
|
|
TOTAL IMPORTS |
2106.475 |
1181.576 |
1175.658 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
- Basic |
25.88 |
18.91 |
18.06 |
|
|
|
- Diluted |
23.94 |
18.91 |
NA |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2010 1st
Quarter |
30.09.2010 2nd
Quarter |
31.12.2010 3rd
Quarter |
31.03.2011 4th
Quarter |
|
Net Sales |
1752.970 |
1994.490 |
2061.590 |
2353.180 |
|
Total Expenditure |
1645.430 |
1837.980 |
1934.330 |
2185.350 |
|
PBIDT (Excl OI) |
107.540 |
156.510 |
127.260 |
167.830 |
|
Operating Profit |
107.540 |
156.510 |
127.260 |
167.830 |
|
Interest |
22.390 |
37.440 |
22.170 |
38.690 |
|
PBDT |
85.150 |
119.070 |
105.090 |
129.140 |
|
Depreciation |
11.510 |
19.490 |
16.000 |
17.240 |
|
Profit Before Tax |
73.640 |
99.580 |
89.090 |
111.900 |
|
Tax |
14.730 |
19.000 |
18.550 |
30.430 |
|
Profit After Tax |
58.910 |
80.580 |
70.540 |
81.470 |
|
Net Profit |
58.910 |
80.580 |
70.540 |
81.470 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.13
|
3.62
|
4.59 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.46
|
4.40
|
5.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.73
|
10.36
|
12.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32
|
0.37
|
0.47 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.51
|
2.56
|
2.74 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.83
|
3.32
|
3.97 |
LOCAL AGENCY FURTHER INFORMATION
HISTORY
Engaged in manufacturing of XLPE and PVC Compounds Kalapana industries was
incorporated in 1985. The company chalked out an expansion project at a cost of
Rs.50.000 Millions to increase the production capacities of XLPE. The
commercial production is expected during the financial year of 2003-04.
Amalgamation of
Alkom Speciality Compounds Limited with the Company
Alkom Speciality
Compounds Limited (ASCL) has been amalgamated with the Company. The Scheme of
Amalgamation was sanctioned by the Hon'ble High Court at
The Amalgamation
follows the Company's philosophy of creating enduring value of all its
stakeholders. The amalgamation creates a platform for value enhancing growth
and reinforces the Company's position as market leader.
OPERATIONS:
During the year
2009-10, the company has achieved a sales turnover of Rs. 7244.100 Millions,
against Rs. 6041.100 Millions in the previous year. The profit after tax for
the current year is Rs. 299.100 Millions in comparison to Rs. 218.500 Core in
the previous year. The current year figures include the figure of Alkom
Speciality Compounds Limited.
The Company's
Production and Sales have recorded a significant growth over the previous year.
Capacity utilization was also higher as compared to industry's average. The
Company has consciously been following a policy of steady growth in production
for last several years.
The Company is
commissioning a new production unit at Dulagarh, near Kolkata,
It is heartening
that the Company has achieved highest ever operating profit (PBIDT) at Rs.
560.000 Millions as compared to Rs. 400.000 Millions in the previous year, a
growth of 40%
MANAGEMENT
DISCUSSION AND ANALYSIS REPORT
The financial
statements have been prepared in compliance with the requirements of the
Companies Act, 1956 and Generally Accepted Accounting Principles (GAPP) in
The following discussion
may include forward looking statements which may involve risks and
uncertainties, including but not limited to the risks inherent to company's
growth strategy, dependency on certain clients, dependency on availability row
materials and other factors .
OVERVIEW
- Gross - Turnover for the current year
is Rs. 7244.100 millions, an increase of 19.91% over Rs. 6041.100 millions
in 2008-09
- PBIDT for the current year is Rs.
560.000 millions as against 400.000 millions in 2008-09, registering a
growth of 40%.
- Profit after Tax for the current year
is Rs. 299.100 millions against Rs. 218.500 millions in 2008-09,
registering a growth of 36.89%.
Industry Overview
The strong growth
in the index of country's industrial output for the year 2009-10 at 10.4% as against
2.8% in the previous year validates that the Indian economy is firmly on the
growth path aided both by investments and consumption. The Indian plastic
industry has taken great strides. In the last few decades, the industry has
grown to the status of a leading sector in the country with a sizable base. The
material is gaining notable importance in different spheres of activity and the
per capita consumption is increasing at a fast pace. Continuous advancements
and developments in polymer technology, processing machineries, expertise, and
cost effective manufacturing is fast replacing the typical materials in
different segments with plastics.
On the basis of
value added, share of
a small – scale
basis. The immense potential of Indian plastic industry has motivated Indian
manufacturers to acquire technical expertise, achieve superior quality
standards and build capacities in different facets of the booming plastic
industry. Substantial developments in the plastic machinery sector coupled with
matching developments in the petrochemical sector, both of which support the plastic
processing industry, have facilitated the plastic processors to develop
capacities to cater both the domestic as well as overseas exports.
OUTLOOK
The long term
outlook of the company will be encouraging because of the following reasons:-
1. Amalgamation of
Alkom Speciality Compounds Limited (ALKOM) with the Company:- ALKOM is engaged
in the business of manufacturing of XLPE compounds which is related to our
company’s business. The amalgamation will boost efficient and economical
management of the company and the company will also obtain advantage of economy
at large scale.
2. Setting up of a
new plant at Dulagarh,
The Company is in
the process of setting up of a new plant with an installed capacity of 60000 MT
per annum at Dulagarh,
CONTINGENT
LIABILITIES NOT PROVIDED FOR IN RESPECT OF
|
Particulars |
As
on 31.03.2009 (Rs.
In Millions) |
|
Letter of Credit |
500.788 |
|
Bank Guarantee |
25.070 |
|
Excise duty demands pending in appeal with CEGAT |
1.330 |
|
Penalty Levied by Excise Authorities |
1.605 |
|
Income Tax Demand under Appeal, not provided for |
0.121 |
UNAUDITED FINANCIAL RESULTS FOR THE 4th QUARTER ENDED
31.03.2011
(Rs.
In millions)
|
Particulars |
3 months ended
31.03.2011 Unaudited |
For the year ended
31.03.2011 Unaudited |
|
(a) Net
Sales/Income from Operations. |
2346.163 |
8117.586 |
|
(b) Other
Operating Income |
7.016 |
44.645 |
|
Total |
2353.179 |
8162.231 |
|
Expenditure
|
|
|
|
a.
(Increase)/decrease in stock in trade and work in progress |
(49.296) |
(0.752) |
|
b.
Consumption of raw materials |
2005.378 |
6922.584 |
|
c. Purchase
of traded goods |
|
|
|
d.
Employees cost |
24.925 |
85.880 |
|
e.
Depreciation |
17.235 |
64.238 |
|
f. Other
expenditure |
204.348 |
595.384 |
|
g. Total |
2202.590 |
7667.334 |
|
(Any item exceeding
10% of the total expenditure to be shown separately) |
0.000 |
0.00 |
|
Profit from
Operations before Other Income, Interest and Exceptional Items |
150.589 |
494.897 |
|
Other
Income |
0.000 |
0.000 |
|
Profit before
Interest and Exceptional Items |
150.589 |
494.897 |
|
Interest |
38.686 |
120.684 |
|
Profit
after Interest but before Exceptional Items |
111.903 |
374.213 |
|
Exceptional
items |
0.000 |
0.000 |
|
Profit (+) /
Loss (-) from Ordinary Activities before tax |
111.903 |
374.213 |
|
Tax
expenses |
30.429 |
82.708 |
|
Net Profit
(+) / Loss (-) from Ordinary Activities after tax |
81.474 |
291.505 |
|
Extraordinary
Item (net of tax expense Rs._) |
0.000 |
0.000 |
|
Net
Profit(+) / Loss (-) for the period |
81.474 |
291.505 |
|
Paid-up
equity share capital (Face Value of Rs. 10 each) |
184.946 |
184.946 |
|
Reserve
excluding Revaluation Reserves |
-- |
1689.575 |
|
Earning Per
Share (EPS) (Not Annualised) |
|
|
|
a) Basic
EPS before & after Extraordinary items for the period, for the year to
date and for the previous year |
4.41 |
15.76 |
|
b) Diluted
EPS before & after Extraordinary items for the period, for the year to
date and for the previous year. |
4.41 |
15.76 |
|
Public
Shareholding |
|
|
|
- No. of
shares |
4960911 |
4960911 |
|
-
Percentage of shareholding |
26.82 |
26.82 |
|
Promoters and promoter group |
|
|
|
Shareholding |
|
|
|
a) Pledged / Encumbered |
|
|
|
- Number of shares |
Nil |
Nil |
|
- Percentage of shares |
Nil |
Nil |
|
(as a % of the total shareholding of promoters and promoter group) |
|
|
|
- Percentage of shares (as a% of the total share capital of the
company) |
Nil |
Nil |
|
b) Non-encumbered |
|
|
|
Number of Shares |
13533675 |
13533675 |
|
- Percentage of shares (as a% of the total shareholding of promoter and
promoter group) |
100% |
100.00% |
|
- Percentage of shares (as a % of the total share capital of the
Company) |
73.18% |
73.18% |
STATEMENT OF ASSETS AND LIABILITIES AS AT 31.03.2011 IS GIVEN BELOW:
Rs. In Millions
|
Particulars |
31.03.2011
(Unaudited) |
|
Shareholders Fund: |
|
|
a. Capital |
184.946 |
|
b. Equity Shares
Warrants |
0.000 |
|
c. Share
Application pending allotment |
0.000 |
|
d. Reserves and
Surplus |
1689.575 |
|
Loan Fund |
1491.530 |
|
Deferred Tax
Liability (Net) |
84.056 |
|
Total |
3450.107 |
|
Fixed Assets
(Including work in progress) |
1132.787 |
|
Investments |
25.935 |
|
Current assets,
loans and advances: |
|
|
a. Inventories |
754.233 |
|
b. Sundry
Debtors |
1719.292 |
|
c. Cash and Bank
Balances |
159.123 |
|
d. Other Current
Assets |
0.000 |
|
e. Loans and
Advances |
465.613 |
|
Less: Current
Liabilities and Provisions |
|
|
a. Liabilities |
596.863 |
|
b. Provisions |
210.013 |
|
Total |
3450.107 |
NOTES:
1. The above
Unaudited financial results for the 4th quarter ended on 31.03.2011 have been
reviewed by the audit committee and have also been approved by the Board at
their respective meetings held on 14th May, 2011.
2. The Company
operates in single business segment of plastic compounds and hence reporting
under AS - 17 is not required.
3. The Shareholders
of the Company have approved the scheme of Amalgamation of Bavaria Poly Private
Limited into the Company in the Hon’ble Calcutta High Court convened meeting
held on 26.04.2011. The requisite petition has been filed by the Company with
Hon’ble Calcutta High Court on 10.05.2011. The Consolidated Accounts of the
merged entity will be reflected only after the Hon’ble Calcutta High Court
approves the scheme of amalgamation. As such the above unaudited quarterly
results reflects the financials of Subject only.
4. Status of
Shareholders’ Complaints for the Quarter Ended 31.03.2011:-
|
Opening Balance |
Received |
Redressed During the Quarter |
Closing Balance |
|
0 |
19 |
19 |
0 |
5 Figures have
been re-grouped / re- arranged wherever considered necessary.
6 Limited Review:-
The Limited Review
by the Statutory Auditors of the Company for the 4th Quarter ended 31.03.2011,
as required under Clause - 41 of the Listing Agreement, has been completed and
the related report is being forwarded to the Stock Exchanges. This Report does
not have any impact on the above results and notes which needs to be explained.
FIXED ASSETS
·
·
·
Plant and Machinery
·
Furniture and Fixtures
·
Motor Car
·
Scooter, Moped and Cycle
·
Laboratory Equipments
·
Electrical Installation
·
Office Equipments
·
Air Conditioner
·
Computer
AS PER WEBSITE DETAILS
PROFILE:
Subject is part of a dynamic industrial house of Surana's.In last 3
decades it has attained the status of most respected Polymer Compounder in
Under the dynamic and able leadership of its promoters the company has moved
from annual capacity of 3000 tons to a level of 150000 tons plus. This could be
achieved due to investment in Modern Equipments and World Class R and D set up
under the supervision of highly competent and enabled personnel's in every
field be it Manufacturing, Marketing or R and D. Continuous improvements
and focus on new product developments along with use of most modern quality
tools have ensured that company keep pace with ever growing quality
requirements of the customers as well as industry in general.
Kalpena have always focused in expanding its reach by servicing new
geographic's as well as developing new products continuously. Regular and
consistent exports to almost 24 countries of various products is testimony of
there capabilities. The customer's retention is there prime objective and they
have always worked hard to device tools to satisfy there customers apart from
offering unparalleled quality. This combination of good product quality and
superior services have allowed them to penetrate markets across the globe and
help them to retain and expand there customer base in the times of intensified
competition.
As in the past they have never settled with there past laurels and have tried
to improve there performance with every passing month, quarter and year. Even
today they are moving ahead with same vigor to maintain the high growth rate.
Company have already taken up major expansion plan to increase the capacity of
existing products like PVC Compounds, XLPE, Semi Conducting and Filled Master
Batches. Company is also working on launch of new products. The products in
pipeline are cross Linkable varity of Halogen Free Flame Retardant,
Strippable Semicon for cable industry,
the engineering plastic products for automobile and appliance industries. They
are also working on the product areas meant for alternative source of energy
like Solar Energy etc.
They are quite confident that with the resources available with them and with
there overall capabilities they will continue to not only meet but exceed
the expectations of there customers, shareholders and business associates.
The Board
Mr. D C Surana
He is the Founder
– Chairman of Kalpena Group aged about 74 Years, has rich profile of experience
in the field of plastic industry. He has got total 40 years of experience out
of which he has been closely associated with the plastic industry from 1985. He
has contributed his life long experience to promote this Company. He is the
Chairman of this Company.
Mr. Narendra S.
Surana,
Mr. Narendra S. Surana,
aged around 48 years, is a B.Com (Hons.), and L.L.B from
Mr. N Guha
Mr. N.Guha, aged
about 77 years, an engineer by profession, has been associated with the Company
in the capacity of Independent Director. Mr. Guha has received his engineering
degree from
Dr. P Ghosh
Dr. Premomoy Ghosh
is aged about 73 years, is associated with the Company since 1993. He has been
an outstanding scholar and done his B.Sc.(Hons), M.Sc.(Tech) and Phd from
Dr. R Dasgupta
Dr. R. Dasgupta,
aged about 66 years, has been associated with the Company since 2003 as an
Independent Director. He has done his
NEWS
Kalpena Industries Limited has informed BSE that the members at the 24th
Annual General Meeting (AGM) of the Company held on 15.09.2009, inter alia,
have approved the following resolutions / businesses, unanimously/ with
requisite majority:
1. Adoption of Balance Sheet as at 31.03.2009 and the Profit and Loss
A/c for the year ended on that date along with the Auditors' Report and the
Directors' Report thereon.
2. Declaration of Dividend @ 20%
i.e. Rs. 2.00 per equity shares of Rs. 10/- each for the year ended 31.03.
2009.
3. Re- appointment of Dr. P. Ghosh, as Director of the Company, retired
by rotation.
4. Re- appointment of M/S. D.C.
Dharewa and Co, Chartered Accountants, Kolkata as Auditors of the Company to
hold office from the conclusion of this Annual General Meeting till the
conclusion of next Annual General Meeting of the Company at such remuneration
as may be decided by the Board.
5. Recalling of ordinary
resolution passed at the Extra - Ordinary General Meeting held on 26.04.2009
regarding increase of Authorized capital from Rs. 120.000 Millions to Rs.
150.000 Millions and amending clause V of the Memorandum of Association.
6. Recalling of Special Resolution passed at the Extra - Ordinary
General Meeting held on 26.04.2009 regarding amendment of Articles of
Association of the Company.
7. Recalling of Special
Resolution passed at the Extra - Ordinary General meeting held on 26.04.2009
regarding issue and allotment of 9,50,000 Compulsory Convertible Debentures (CCDs)
to Banyan Tree Growth Capital L.L.C (BTCG) and Nederlandse Financierings
Maatschappij Voor Ontwikkelingslanden N.V.(FMO).
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.44.38 |
|
|
1 |
Rs.72.21 |
|
Euro |
1 |
Rs.62.87 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
51 |
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.