MIRA INFORM REPORT
|
Report Date : |
27.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
RUCHI SOYA INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
614, Tulsiani Chambers, Nariman Point, Mumbai – 400021, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
06.01.1986 |
|
|
|
|
Com. Reg. No.: |
11-038536 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.685.053 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L15140MH1986PLC038536 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR14074E BPLR03207B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR28921 |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
The Stock Exchange. |
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|
|
|
Line of Business
: |
Manufacturing of Soya Bean Oil Edible Grade, Meal of Soya Bean and Other
Vegetable Oils and Fats. |
|
|
|
|
No. of Employees
: |
2000( Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 86100000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
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Litigation : |
Clear |
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|
Comments : |
Subject is a well established and reputed company having fine track
records. Financial position of the company appears to be sound. Directors are
reported to be experienced and respectable businessman. Trade relations are
reported as fair. Business is active. Payments are reported to be regular and
as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES : Any query related to this
report can be made on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
LONG TERM RATING : CARE A |
|
Rating Explanation |
This rating are considered to have adequate degree of safety regarding
timely servicing of financial obligation such instruments carry low credit
risk |
|
Date |
September, 2011 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Anup |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-66560600 |
|
Date : |
22.08.2012 |
LOCATIONS
|
Registered Office : |
614, Tulsiani Chambers, 2nd Floor, Backbay
Reclamation, Nariman Point, Mumbai - 400 021, |
|
Tel. No.: |
91-22-66560600 |
|
Fax No.: |
91-22-22837525 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
500 Sq. ft. (Approximately) |
|
|
|
|
Head
/Administrative Office : |
301 Mahakosh House, 7/5 South Tukoganj, |
|
Tel. No.: |
91-731-2513281/82/83 |
|
Fax No.: |
91-731-4065019 / 2527250 |
|
|
|
|
Factory : |
Survey No.217/1, Village Mityhirohar, Taluka Gandhidham, Kutch,
Gandhidham – 370201, Gujarat, India |
|
Tel No.: |
91-2836-645672/73 |
|
Fax No.: |
91-2836-286509/286473 |
DIRECTORS
As on 31.03.2011
|
Name : |
Mr. Kailash Shahra |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Dinesh Shahra |
|
Designation : |
Managing Director |
|
Qualification : |
B. E. (Chemical Engineer) |
|
|
|
|
Name : |
Mr. A. B. Rao |
|
Designation : |
Director (Legal) |
|
|
|
|
Name : |
V. K. Jain |
|
Designation : |
Director (Commercial) |
|
|
|
|
Name : |
Mr. Sanjeev Kumar Asthana |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. P. D. Dwivedi |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Sajeve Deora |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. N. Murugan |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Navin Khandelwal |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. R. L. Gupta |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Mr. Anup |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2012
|
Category of Shareholder |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
106142732 |
31.83 |
|
|
73914048 |
22.17 |
|
|
180056780 |
54.00 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
180056780 |
54.00 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
129800 |
0.04 |
|
|
246204 |
0.07 |
|
|
60731209 |
18.22 |
|
|
61137213 |
18.34 |
|
|
|
|
|
|
78978037 |
23.69 |
|
Individuals |
|
|
|
|
11236541 |
3.37 |
|
|
1655500 |
0.50 |
|
|
375551 |
0.11 |
|
|
375551 |
0.11 |
|
|
92245629 |
27.66 |
|
Total Public shareholding (B) |
153382842 |
46.00 |
|
Total (A)+(B) |
333439622 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
-- |
-- |
|
(1) Promoter and Promoter Group |
-- |
-- |
|
(2) Public |
-- |
-- |
|
Sub Total |
-- |
-- |
|
Total (A)+(B)+(C) |
333439622 |
-- |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Soya bean Oil Edible Grade, Meal of Soya Bean and Other
Vegetable Oils and Fats. |
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||||||||
|
Products : |
|
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
|
|
|
31.03.2011 Quantity (M.T.) |
|
INSTALLED
CAPACITY (On
three shift basis) |
||||
|
Textured Soya Proteins |
|
|
|
152000 |
|
Edible Soya Flour (Soya Protein) |
|
|
|
60000 |
|
Soyabean Extraction |
|
|
|
3308724 |
|
Oils (including lecithin) |
|
|
|
2271000 |
|
Vanaspati |
|
|
|
469500 |
|
Power Generation (in MW) |
|
|
|
76 |
|
Palm Crushing |
|
|
|
518400 |
|
Toilet Soap |
|
|
|
33600 |
|
Soap Noodles |
|
|
|
42000 |
|
Split Fatty Acid |
|
|
|
35000 |
|
Glycerine |
|
|
|
2250 |
|
|
|
|
|
|
|
PRODUCTION |
||||
|
Textured Soya Proteins/ Flour |
|
|
|
171733.903 |
|
Realisable by-products |
|
|
|
390918.699 |
|
Seed Extractions (DOC) |
|
|
|
1549222.447 |
|
Oils |
|
|
|
1943022.499 |
|
Vanaspati |
|
|
|
170138.405 |
|
Milk |
|
|
|
-- |
|
Power Generation (Number of Units) |
|
|
|
112058160 |
|
Seedling (Number of Units) |
|
|
|
521405 |
GENERAL INFORMATION
|
No. of Employees : |
2000 (Approximately) |
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Bankers : |
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Facilities : |
|
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|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P. D. Kunte and Company Chartered Accountants |
|
|
|
|
Cost
Auditor : |
|
|
Name : |
K. G. Goyal and Company Cost Auditors |
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|
|
|
Subsidiaries : |
|
|
|
|
|
Associates : |
|
|
|
|
|
Entities where Key
Management Personnel or relatives of Key Management Personnel have
significant influence : |
|
CAPITAL STRUCTURE
After 30.09.2011
Authorised Capital : Rs.2530.500 Millions
Issued, Subscribed & Paid-up Capital : Rs.686.879 Millions
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1,010,250,000 |
Equity Shares |
Rs.2/- each |
Rs.2020.500
Millions |
|
5,100,000 |
Preference Shares |
Rs.100/- each |
Rs.510.000
Millions |
|
|
Total |
|
Rs.2530.500
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
332,526,472 |
Equity Shares |
Rs.2/- each |
Rs.665.053 Millions |
|
200,000 |
6% Non-Convertible Redeemable Cumulative
Preference Shares |
Rs.100/- each |
Rs.20.000 Millions |
|
|
Total |
|
Rs.685.053 Millions |
Notes:
1. Increased in
terms of the Scheme of Amalgamation and Arrangement
2. The 6%
Non-Convertible Redeemable Cumulative Preference Shares of Rs.100/- each were issued
pursuant to the Scheme of Amalgamation and Arrangement between Sunshine
Oleochem Limited, Ruchi Soya Industries Limited and their respective
shareholders sanctioned by the Hon’ble High Court of Mumbai on the same terms
and conditions as originally issued by Sunshine Oleochem Limited.
The preference
shares are redeemable as follows:
a) First
installment of Rs.33/- per preference share on completion of 144 months from
March 31, 2009.
b) Second
installment of Rs.33/- per preference share on completion of 156 months from
March 31, 2009.
c) Third installment of Rs.34/- per preference share on completion of
168 months from March 31, 2009.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
685.053 |
824.813 |
1054.178 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
20848.064 |
18404.902 |
10795.726 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
NETWORTH
|
21533.117 |
19229.715 |
11849.904 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
14371.151 |
6853.367 |
6978.709 |
|
|
2] Unsecured Loans |
20291.992 |
16610.196 |
10229.738 |
|
TOTAL BORROWING
|
34663.143 |
23463.563 |
17208.447 |
|
|
DEFERRED TAX LIABILITIES |
1990.495 |
1686.500 |
1347.815 |
|
|
EMPLOYEES STOCK OPTIONS |
40.172 |
18.132 |
3.876 |
|
|
|
|
|
|
|
TOTAL
|
58226.927 |
44397.910 |
30410.042 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
21049.546 |
19605.195 |
13347.617 |
|
Capital work-in-progress
|
1818.661 |
644.052 |
786.589 |
|
|
|
|
|
|
|
INVESTMENT
|
2022.438 |
1967.273 |
817.824 |
|
DEFERREX TAX ASSETS
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
|
Inventories
|
28234.140
|
15872.849
|
15093.267
|
|
|
Sundry Debtors
|
22300.497
|
12002.742
|
10268.276
|
|
|
Cash & Bank Balances
|
12573.919
|
15013.811
|
10147.932
|
|
|
Other Current Assets
|
194.688
|
412.353
|
183.025
|
|
|
Loans & Advances
|
9143.607
|
9481.033
|
9941.990
|
Total Current Assets
|
72446.851
|
52782.788
|
45634.490
|
|
Less: CURRENT
LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Sundry Creditors
|
34602.796
|
27079.524
|
27050.927
|
|
|
Other Current Liabilities
|
2387.580
|
1524.733
|
1684.967
|
|
|
Provisions
|
2120.208
|
1998.629
|
1442.432
|
Total Current Liabilities
|
39110.584
|
30602.886
|
30178.326
|
|
Net Current Assets
|
33336.267
|
22179.902
|
15456.164
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
0.015 |
1.488 |
1.848 |
|
|
|
|
|
|
|
TOTAL
|
58226.927 |
44397.910 |
30410.042 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
166637.727 |
135297.217 |
121720.641 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
152690.228 |
121895.430 |
79189.805 |
|
|
|
Purchases made for re-sale |
0.000 |
0.000 |
30347.749 |
|
|
|
Increase/(Decrease) in Stock |
(4363.335) |
(377.450) |
800.682 |
|
|
|
Expenses |
12651.967 |
9411.555 |
8463.142 |
|
|
|
Exceptional Items |
0.000 |
(35.243) |
0.000 |
|
|
|
TOTAL (B) |
160978.860 |
130894.292 |
118801.378 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
5658.867 |
4402.925 |
2919.263 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1179.067 |
674.393 |
554.168 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4479.800 |
3728.532 |
2365.095 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1199.270 |
1003.717 |
857.593 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3280.530 |
2724.815 |
1507.502 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1148.444 |
1000.142 |
574.684 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2132.086 |
1724.673 |
932.818 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4296.438 |
3445.491 |
2911.832 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD RELATING TO TRANSFEROR COMPANIES |
101.571 |
15.438 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
General Reserve |
250.000 |
250.000 |
250.000 |
|
|
|
Proposed Dividend |
166.749 |
159.609 |
127.492 |
|
|
|
Capital Redemption Reserve |
0.000 |
452.429 |
0.000 |
|
|
|
Tax on Dividend |
27.051 |
27.126 |
21.667 |
|
|
BALANCE CARRIED
TO THE B/S |
6086.295 |
4296.438 |
3445.491 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
F. O. B
value of Export |
22672.177 |
13458.161 |
|
|
|
|
F. O. B
value of Merchandise trade |
9063.470 |
7603.100 |
|
|
|
|
TOTAL EARNINGS |
31735.647 |
21061.261 |
45118.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
0.000 |
7.071 |
|
|
|
|
Purchase of Oils |
46374.738 |
50987.995 |
9.253 |
|
|
|
Purchases for Merchandise exports |
8883.483 |
7474.504 |
|
|
|
|
Purchase of Consumables/ packing materials |
6.314 |
70.339 |
|
|
|
TOTAL IMPORTS |
55264.535 |
58539.909 |
9.253 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.62 |
6.92 |
4.83 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2011 |
30.09.2011 |
31.12.2011 |
31.03.2012 |
30.06.2012 |
|
|
1st Quarter |
2nd
Quarter |
3rd
Quarter |
4th
Quarter |
5th
Quarter |
|
Net Sales |
59017.200 |
60822.900 |
70343.100 |
69332.220 |
50079.110 |
|
Total Expenditure |
57394.300 |
60452.500 |
69361.100 |
67959.690 |
48608.050 |
|
PBIDT (Excl OI) |
1622.900 |
370.400 |
982.000 |
1372.530 |
1471.060 |
|
Other Income |
15.100 |
108.400 |
659.300 |
788.970 |
677.380 |
|
Operating Profit |
1638.000 |
478.800 |
1641.300 |
2161.500 |
2148.440 |
|
Interest |
279.800 |
37.200 |
864.000 |
964.380 |
1165.900 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
PBDT |
1358.200 |
441.600 |
777.300 |
1197.120 |
982.540 |
|
Depreciation |
315.600 |
340.200 |
374.200 |
381.750 |
346.300 |
|
Profit Before Tax |
1042.600 |
101.400 |
403.100 |
815.380 |
636.240 |
|
Tax |
381.000 |
63.600 |
162.600 |
506.520 |
210.150 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
661.600 |
37.800 |
240.500 |
308.860 |
426.090 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
661.6000 |
37.800 |
240.500 |
308.860 |
426.090 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.28
|
1.27
|
0.76
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.58
|
3.76
|
2.55
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.14
|
0.12
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.43
|
2.81
|
3.99
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.85
|
1.72
|
1.51
|
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
No |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
No |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
REVIEWS OF
OPERATIONS
During the year, the
sales and other income of the Company have increased to Rs.166637.700 Millions
from Rs.135297.200 Millions in the previous year, recording a growth of over
23%. The Profit before depreciation and tax increased to Rs.4479.800 Millions
from Rs. 3728.532 Millions in the previous year recording a growth of over 21%.
Profit after tax of Rs.2132.100 Millions was recorded during the year which is
over 23% higher than Rs.1724.700 Millions in the previous year.
FUTURE OUTLOOK
Subject is tapping
the last mile retail story with brands like Nutrela, Mahakosh and Ruchi Gold on
the one hand and investments in the value chain integration involving
plantations across continents to secure supply chain
on the other.
Integration of complete value chain will facilitate in leveraging the growing
business opportunities with enhanced margins.
There is a need
for consolidation of the Domestic Businesses and to drive economies of scale to
continuously remain competitive in the challenging environment being faced by
the industry. The company is in the process of setting up / expanding
production facilities at the new/existing locations to cater to the growing
demand and to sustain the leadership position. As a part of the strategy to
enlarge their presence in the diverse domestic edible oil segment, the company has
also begun to increase capacities of production facilities in Mustard oil
segment.
SUBSIDIARY
COMPANIES
During the year,
the Company has set up wholly owned subsidiary companies in
The Company
undertakes to provide annual accounts of the subsidiary companies and the
related detailed information to shareholders of the holding and subsidiary
companies seeking such information at any point of time. The annual accounts of
the subsidiary companies shall also be kept for inspection by any shareholder
in the registered office of the holding company and of the subsidiary company
concerned.
MANAGEMENT
DISCUSSION AND ANALYSIS REPORT
INDUSTRY STRUCTURE
AND DEVELOPMENT
The primary
business of the Company is processing of oil-seeds and refining of crude oil for
edible use. The Company also produces oil meal, food products from soya and
value added products from downstream and upstream processing. The domestic
edible oil consumption has been steadily growing and is estimated to be over 16
million MT in the current year with Palm and Soya oil, in which the Company has
a dominant presence, contributing approx 60% in volume. While the growth in
population and disposable income due to economic growth is resulting in higher
consumption, the supply growth has been primarily lower due to relative
stagnancy in the domestic oil seed output. In view of the demand- supply gap,
over 53% of the domestic edible oil consumption is met by imports, with Palm
and Soya accounting for over 90% of the imported volume. The oil meal is
essentially consumed as poultry, fish and cattle feed, A substantial part of
soya meal is exported to the Asian region even though the domestic demand is
growing.
The domestic soya
crop production was around 9.6 million MT in
Keeping in view
the growing demand of Palm Oil and augmentation of the domestic supply, the
Government of India and State Governments have identified potential areas for
oil palm cultivation and taken measures to promote oil palm cultivation and
processing in
INDUSTRY OUTLOOK
The Indian
economic growth is expected to be commodity intensive in future. The food
sector, one of the major growth sectors of the Indian economy, is essentially
commodity oriented. Edible oil is and will remain an important constituent of
dietary plan despite varied eating habits and varied methods of cooking across
the different states/regions in the country. The demand for edible oil in
Indian edible oil
sector is, by and large, a price conscious and price sensitive market, as a
substantial part of consumption takes place at the bottom end of the pyramid.
The propensity to consume is correlated with the changes in prices of edible
oil and the quantum of disposable income. With rising incomes, food remains an
important item of expenditure to warrant large share of incremental spending.
The edible oil
sector is at its inflexion point. While the consumption grows with the rise in
disposable income, the pattern of consumption is also moving towards packed
and/or branded form due to factors such as, amongst others, rising incomes
coupled with changes in the household demographics, improving health
consciousness, growing organised retail improving reach of the products across
the country, visual advertisements etc. Thus, the growth of edible oil in
packed form has far exceeded the industry wide growth rate over the last five
years. In the foreseeable future, it is envisaged that the overall quantum of
edible oil consumption will continue to grow significantly in the packed
segment, with the pattern of consumption shifting from unpacked to packed form,
across different layers of positioning from “mass” to “class” segments.
Keeping in view
the steady average rate of GDP growth (and the consequent Income growth) and
the population growth expected in
The edible oil
industry in
BUSINESS STRATEGY
The size and the
steady growth of the edible oil industry in
also enables the
Company to build-on and strengthen its current presence and market share in the
industry. The company always explores various ways to leverage the synergies
arising from sourcing, logistics, distribution, strong market presence, well
spread and balanced (between port based and inland locations) manufacturing
facilities of global standards at strategic locations. Having built a robust
position in the mid stream segment which facilitates the growth in front and
back end segments to capture the value chain, the Company is in the processing
of expanding its front end segment into marketing of branded and value added
products and back end segment into palm and other plantations, thus focusing on
value integration and optimisation.
Considering the
opportunities arising out of the challenges due to the presence of a large
number of small units operating in the industry and the varying consumer
preferences at different regions, the company has created a robust
organisational structure to evolve appropriate response mechanisms closer to
ground realities and faster to the consumer needs, in line with the emerging
business needs and trends. The Company will continue to strengthen itself in
areas of sourcing raw materials from points of origin, reducing inefficiencies
in supply chain and logistics, promoting green energy initiatives, expanding
capabilities to process at strategic locations, improvements in product
quality, and increased sales of branded products in retail segment.
The consumerism in
expand business volume
in retail segment. The Company, despite having a large base of branded sales,
is strongly oriented to capitalise the growing business opportunities in this
direction and has set ambitious targets to scale up its presence in branded
segment. The Company will significantly undertake strengthening business
processes for quality, scalability, sustainability, availability and visibility
in the area of branded products. The Company will continue to expand its
distribution channels across the country, broad base its product range, and
invest in designing and implementing brand positioning and promotion strategies
to achieve the objectives. With the favourable shift towards growth in packaged
goods segment, the company has chalked out plans to continue to achieve far
higher growth than the industry.
The Company is
evaluating opportunities to expand its product portfolio and will be
introducing various new products for the health conscious consumer under the
‘Nutrela’ brand, which has already carved a niche for itself as a market leader
in soya foods. New products are proposed to be rolled out with focus on the
growing “health and wellness” segment. The Company will proactively roll-out
various initiatives to support its branding strategy, including better visibility,
ad spend, brand/ product positioning etc.
The company is the
largest branded marketer in palm oil with strong sourcing strengths, processing
capabilities in port based locations to process imported palm oil for
distribution in the domestic market. The company perceives that vertical
integration into palm plantations will be the key goal to partially insulate
against the short supplies and spiraling prices in the long run. The company
perceives, therefore, a logical business opportunity to achieve backward
integration in palm plantations in overseas/domestic markets to complete the
value chain and thus give a fillip to the momentum. The direct benefit of the
above endeavors, besides strengthening the existing attributes of its business
in the domestic market, will be to de-risk the operations from geographical and
product risks, to support supply chain requirements and to add long-term
sustainable value to the business of the Company. In this regard, The company
has already secured procurement rights for the development and sourcing of oil
palm over 175,000 Hectares of land, suitable for the cultivation, across
various states in India, and set up commensurate processing
capacities/facilities appropriate to the requirements. The planted area as of
the close of the year was over 33,000 Hectares. Despite the challenging the
task of scalability, the company has resolved to step up the efforts resulting
in increase in the area of oil palm plantation in the coming years, thereby
contributing to income of farmers, the regional development and increase in
domestic oil production. The active completion of oil palm plantation in
As a part of
growth strategy, the Company is in the process of expanding its presence
internationally by setting up of facilities for soya/oil palm cultivation and
processing into downstream products, through step down subsidiaries. This will
enhance their origination capabilities; support their strategy of value
integration, add significant improvement in the margin profile on a consistent
basis, resulting in their business model with reasonable predictability and
sustainability, in the times to come.
The Company is
strengthening the existing internal business processes, more particularly in
the areas of Marketing, Information technology, Human resource systems and Risk
management, and is thus gearing-up to meet the challenges ahead. The Company is
of the view that the initiatives in the above mentioned areas will improve the
product mix and enhance the margin profile in future. Keeping in view the scale
of operations and the overall growth, the company believes that strategic moves
will prove beneficial for the Company and the stakeholders in the long term.
CONTINGENT LIABILITY
CONTINGENT LIABILITY NOT PROVIDED FOR
Rs. in millions
|
Particulars |
31.03.2011 |
31.03.2010 |
|
(a) Claims
against the Company not acknowledged as debts |
90.676 |
71.952 |
|
(b) Outstanding
bank guarantees |
404.834 |
140.813 |
|
(c) Outstanding Letters
of Credit |
2.164 |
0.000 |
|
(d) Outstanding
corporate guarantees given on behalf of subsidiary |
2913.909 |
1526.917 |
|
(e) Income tax/
Sales tax/ Entry tax/ Excise/ Octroi / Custom duty/ESIC / Electricity Duty /
Others |
2926.730 |
2237.943 |
|
(f) Bills
discounted |
2794.053 |
2839.642 |
|
(g) Estimated
amount of contracts remaining to be executed on capital account (Net of
advances) |
572.413 |
547.246 |
FIXED ASSETS
- Freehold Land
- Lease hold Land
- Buildings
- Plant and Machinery
- Windmills
- Furniture and Fixtures
- Vehicles
- Office Equipments
- Trade Marks
- Software
UNAUDITED
FINANCIAL RESULTS (PROVISIONAL) FOR THE QUARTER AND NINE MONTHS ENDED 30th
JUNE, 2012
(Rs. In Millions)
|
Particulars |
3 months |
Preceding 3 months ended |
Corresponding 3 months ended |
Previous year ended |
|
|
30.06.2012 |
31.03.2012 |
30.06.2011 |
31.03.2012 |
|
|
Unaudited |
Unaudited |
Unaudited |
Audited |
|
a) Net Sales / Income from Operations |
500243.92 |
70021.586 |
589673.13 |
2,599,106.63 |
|
b) Other Operating Income |
547.22 |
(2,25.421) |
283.22 |
538.63 |
|
Total income from operations(net) |
500791.14 |
69796.165 |
589956.35 |
2,599,645.26 |
|
Expenditure |
|
|
|
|
|
(a) Cost of materials consumed |
32470.512 |
40364.968 |
30034.010 |
140349.946 |
|
(b) Purchases of stock-in-trade |
11557.755 |
26031.177 |
21940.286 |
98278.910 |
|
(c ) Changes in inventories of finished goods, work-in-progress and stock-in-trade. |
(355.534) |
(6232.462) |
2497.373 |
(6121.493) |
|
(d) Employee benefits expenses |
315.019 |
264.619 |
226.131 |
1102.561 |
|
(e) Depreciation and amortisation expenses |
346.297 |
381.749 |
315.586 |
1407.765 |
|
(f) Other expenses |
4620.317 |
7995.336 |
2660.277 |
19723.527 |
|
Total Expenditure |
48954.366 |
68805.387 |
57673.663 |
254741.216 |
|
Profit / (Loss) From Operations before other Income Interest & Exceptional Items |
1124.748 |
990.778 |
1321.972 |
5223.310 |
|
Other Income |
677.384 |
788.968 |
350.289 |
5223.310 |
|
Profit/(Loss) before Interest and Exceptional items |
1802.132 |
1779.746 |
1672.261 |
7495.875 |
|
Interest |
1165.896 |
964.371 |
644.074 |
5212.619 |
|
Profit / (Loss) after interest before Exceptional items |
636.236 |
815.375 |
1028.187 |
22,83.256 |
|
Exceptional Items |
-- |
-- |
-- |
.-- |
|
Profit / (Loss) From
Ordinary activities before Tax |
636.236 |
815.375 |
1028.187 |
2283.256 |
|
Tax Expenses |
210.151 |
506.518 |
366.571 |
1060.109 |
|
Net Profit/(Loss) From Ordinary activities after Tax |
426.085 |
308.857 |
661.616 |
1223.147 |
|
Extraordinary Items |
-- |
-- |
-- |
-- |
|
Net Profit/(Loss) for the period |
426.085 |
308.857 |
661.616 |
1223.147 |
|
Share of Profit/(loss)
of associates |
-- |
-- |
-- |
-- |
|
Minority Interest |
-- |
-- |
-- |
-- |
|
Net Profit/(Loss) after taxes, minority interest and share of
profit/(loss) of associates |
426.085 |
308.857 |
661.616 |
1223.147 |
|
Paid Up Equity Share Capital ( Face Value of the share Rs.2/- each) |
666.879 |
666.717 |
666.037 |
666.717 |
|
Preference Share Capital (Face Value Rs.100/- each) |
20.000 |
20.000 |
20.000 |
20.000 |
|
Reserves (Excluding Revaluation Reserves) |
-- |
-- |
-- |
17218.704 |
|
Public Share
Holding |
|
|
|
|
|
Earning Per Share |
|
|
|
|
|
-Basic |
1.28 |
0.93 |
1.99 |
3.67 |
|
-Diluted |
1.28 |
0.92 |
1.98 |
3.66 |
|
Public Share Holding |
|
|
|
|
|
- Number of Shares |
153,382,842 |
154,020,318 |
160,081,303 |
154,020,318 |
|
- Percentage of shareholding |
46.00 |
46.20 |
48.07 |
46.20 |
|
Promoters and Promoter group share holding |
|
|
|
|
|
a) Pledged / Encumbered |
|
|
|
|
|
- Number of Shares |
3,301,665 |
7,801,665 |
9,213,290 |
7,801,665 |
|
- Percentage of share (as a % of the total shareholding of promoter and promoter group) |
1.83 |
4.35 |
5.33 |
4.35 |
|
- Percentage of shares(as a % of the total share capital of the company) |
0.99 |
2.34 |
2.77 |
2.34 |
|
b) Non -encumbered |
|
|
|
|
|
- Number of Shares |
176,755,115 |
171,536,589 |
163,723,829 |
171,536,589 |
|
- Percentage of Share (as a % of the total shareholding of promoter and promoter group) |
98.17 |
95.65 |
94.67 |
95.65 |
|
- Percentage of Share (as a % of the total share capital of the company) |
53.01 |
51.46 |
49.16 |
51.46 |
|
Particulars |
3 months ended 30.6.2012 |
|
INVESTOR COMPLAINTS |
|
|
Pending at the beginning of the quarter |
- |
|
Received during the quarter |
8 |
|
Disposed of during the quarter |
8 |
|
Remaining unresolved at the end of the quarter |
- |
SEGMENT
WISE REVENUE, RESULTS AND CAPITAL EMPLOYED
(Rs. In Millions)
|
Particulars |
3 months |
Preceding 3 months ended |
Corresponding 3 months ended |
Previous year ended |
|
|
30.06.2012 |
31.03.2012 |
30.06.2011 |
31.03.2012 |
|
|
Unaudited |
Unaudited |
Unaudited |
Audited |
|
Segment Revenue |
|
|
|
|
|
Oils |
33726.698 |
32861.683 |
49596.324 |
186445.460 |
|
Vanaspati |
1954.643 |
1876.807 |
2543.270 |
9530.288 |
|
Seed Extraction |
17551.637 |
33287.404 |
12915.584 |
82842.939 |
|
Food Products |
1185.107 |
746.893 |
818.162 |
3101.082 |
|
Wind Turbine Power Generation |
205.143 |
146.361 |
174.212 |
567.607 |
|
Others |
2594.853 |
8565.723 |
720.986 |
11287.087 |
|
Unallocated |
-- |
-- |
-- |
-- |
|
Total Segment Revenue |
57218.081 |
77484.871 |
66768.538 |
293774.463 |
|
Less : Inter segment Revenue |
7193.689 |
7463.285 |
7801.225 |
33863.800 |
|
Net Sales/Income from operations |
50024.392 |
70021.586 |
58967.313 |
259910.663 |
|
Segment Results (Profit/(loss)
before tax and interest from each segment) |
|
|
|
|
|
Oils |
524.610 |
160.207 |
899.192 |
1498.648 |
|
Vanaspati |
26.556 |
14.714 |
50.045 |
113.436 |
|
Seed Extraction |
362.526 |
815.487 |
204.311 |
3075.060 |
|
Food Products |
42.925 |
64.700 |
26.312 |
136.033 |
|
Wind Turbine Power Generation |
128.254 |
113.876 |
109.661 |
281.675 |
|
Others |
50.167 |
9.656 |
46.103 |
219.498 |
|
Unallocated |
-- |
-- |
-- |
-- |
|
Total |
1135.038 |
1178.640 |
1335.624 |
5324.350 |
|
Less: Finance costs |
1165.896 |
964.371 |
644.074 |
5212.619 |
|
Less: Interest Income |
(667.094) |
(601.106) |
(336.637) |
(2165.524) |
|
Less: Other unallocable expenditure net off un-allocable income |
-- |
-- |
-- |
(6.001) |
|
Total Profit before
tax |
636.236 |
815.375 |
1028.187 |
2283.256 |
|
Capital Employed
(Segment Assets less Segment Liabilities) |
|
|
|
|
|
Oils |
8613.634 |
16553.323 |
9889.572 |
12717.300 |
|
Vanaspati |
2391.163 |
5593.014 |
2870.423 |
5635.518 |
|
Seed Extraction |
9759.239 |
13829.561 |
13646.730 |
13742.816 |
|
Food Products |
1353.766 |
1497.985 |
979.199 |
1334.545 |
|
Wind Turbine Power Generation |
4974.243 |
4475.967 |
4511.723 |
4533.684 |
|
Others |
9500.615 |
3411.925 |
2467.394 |
7196.974 |
|
Unallocated |
-- |
-- |
-- |
-- |
|
Total |
36592.660 |
45361.775 |
34365.041 |
45160.837 |
Notes:
- The above results have been reviewed by the Audit Committee and have been approved by the Board of Directors of the Company at the meeting held on 21st July, 2012. The Statutory Auditors have carried out a ‘limited review’ of the above results.
- The Compensation Committee of the Board of Directors, at its meeting held on 12th May, 2012 has allotted 81,050 equity shares of Rs 2/- each on exercise of 81,050 options by the eligible employees in accordance with the Employee Stock Option Scheme- 2007 of the Company, as amended from time to time.
The Compensation Committee has further granted 15,000 options and cancelled 52,500 options in terms of the Scheme at its meeting held on 12th May, 2012. The movement in the Employee Stock Options during the quarter ended 30th June, 2012 is as follows: .
|
Date of Grant |
Opening Balance as
in April 1 ,2012 |
Issued |
Cancelled |
Exercised during
the quarter |
Closing Balance as
on June 30,2012 |
|
April 1st 2008 |
83,100 |
-- |
-- |
1,000 |
82,100 |
|
October 1st 2009 |
615,550 |
-- |
38,500 |
13,200 |
563,850 |
|
April 1st 2010 |
181,300 |
-- |
4,000 |
36,250 |
141,050 |
|
April 1st 2011 |
198,000 |
-- |
10,000 |
30,600 |
157,400 |
|
April 1st 2012 |
-- |
15,000 |
-- |
-- |
15,000 |
|
Total |
1,077,950 |
15,000 |
52,500 |
81,050 |
959,400 |
- Pursuant to notification dated 29th December 2011 issued by the Ministry of Corporate Affairs, with effect from 1st April 2011, the Company has exercised the option available under the said Clause. Accordingly, the exchange difference arising on reporting of long term foreign currency monetary items, in so far as they relate to acquisition of depreciable fixed assets, have been adjusted to the cost of the assets and in other cases, the same has been accumulated in Rs. Foreign Currency Monetary Item Translation Difference Account’ and will be amortised over the balance period of liability. The amount remaining unamortized as at the end of the quarter is Rs 136.198 Millions.
- Pursuant to the Scheme of Amalgamation and Arrangement between the Company and Mac Oil Palm Limited, the Board has approved the following amounts as charge to Business Development Reserve during the quarter ended on June 30, 2012.
|
Particulars |
Amount (Rs in
Millions) |
|
Additional depreciation/impairment/amortization on account of Revaluation |
53.307 |
|
Advertisement Expenses for Business Development (net of current tax) |
9.212 |
|
Total |
62.519 |
- With effect from 1 April 2011, the Company has adopted the principles of derivatives and hedge accounting of Accounting Standard (AS) 30 “Financial Instruments: Recognition and Measurement”, to account for interest rate swaps. Accordingly, mark to market losses of Rs 227.146 Millions (including Rs 45.142 Millions for the 3 month under review) on account of interest rate swaps designated as effective hedge has been recognized in the balance sheet under the head “Hedge Reserve”.
- The ax expenses for the three months ended 30th June, 2012 comprises current tax of Rs 214.951 Millions & Deferred tax (Asset) of Rs 4.800 Millions.
- The financial statements have been prepared as per the Revised Schedule VI to the Companies Act, 1956 which had a significant impact on presentation. Corresponding figures for the previous period have been regrouped/reclassified to make them comparable with those of current period.
Subject operates in four segments: Extractions, which include
all types of seed extractions; Vanaspati, which involves manufacturing of
vanaspati; Oils, which include Crude oils and refined oils; Food Products,
which include textured soya protein, soya flour, fruit juice and soya milk;
Wind Power Generation, which include electricity generation from wind mills
excluding captive consumption, and Others, which include gram, wheat, rice,
maize, corn, seeds, coffee, marine products, tuar, peas, barley, soap, fresh
fruit bunch, seedling and plant and machinery (equipment), cotton bails and
toiletry preparation. Its brands include Nutrela, Ruchi Gold, Mahakosh and
Sunrich. Its other products include Bakery fats and Soaps. Its soaps include
Magic of Fresh Jasmine, Purity of Natural Sandalwood, Goodness of Rose Petals and
Freshness of Lime. It exports its products to
BOARD OF DIRECTORS
Mr. Kailash Chandra Shahra (Non Executive
Chairman of the Board)
Mr. Kailash Chandra Shahra is Non-Executive Chairman of the
Board of Subject, since January 7, 1986. He holds B.Com from
Mr. Sanjeev Kumar
Ashtana (Non-Executive Director)
Mr. Sanjeev Kumar Asthana is Non-Executive Director of
Subject, since August 28, 2010. He holds PGDIT from IIFT,
Mr. Sajeve Deora
(Independent Non-Executive Director)
Mr. Sajeve Deora is Independent Non-Executive Director of
Subject, since December 27, 2005. He holds B.Com from
Mr. Prabhu Dayal
Dwivedi (Independent Non-Executive
Director)
Mr. Prabhu Dayal Dwivedi is the Independent Non-Executive
Director of Subject. He holds M.A. from
Mr. V. K. Jain
(Director)
Mr. Vijay Kumar Jain is Director - Commercial, Whole time
Director of Subject, since July 27, 2009. He holds B.Sc (Physics Hons.) from
Mr. Navin Khandelwal
(Independent Non – Executive Director)
Mr. Navin Khandelwal is Independent Non-Executive Director
of Subject, since December 18, 2009. He holds B.Com from
Mr. Navamani Murugan
(Independent Non – Executive Director)
Shri. Navamani Murugan is Independent Non-Executive Director of Subject, since July 27,
2009. He holds M.Sc from
Mr. Ashutosh Bhailal
Rao (Director)
Mr. Ashutosh Bhailal Rao serves as Director - Legal, Whole
time Director of Subject. He holds LLB and MBA (Marketing) from
Mr. Dinesh Shahra
(Managing Director, Executive Director)
Mr. Dinesh Shahra is Managing Director, Executive Director of Subject, since January 7, 1986. He holds B.E. (Chemical Engineering) from HBIT, Kanpur (UP). He has been Managing Director of Ruchi Soya Industries Limited since January 7, 1986. He holds Directorship of other companies are Ruchi Worldwide Limited, Jafra Ruchi Cosmetics India Private Limited, Ruchi Multitrade Private Limited, Evershine Oleochem Limited, Shahra Brothers Private Limited, Shahra Estate Private Limited, Ruchi Infrastructure Limited, Mangalore Liquid Impex Private Limited, Brightstar Infrastructure Private Limited, Ruchi Green Energy Private Limited, Hightech Realties Private Limited, Spectra Realties Private Limited, IFarm Venture Advisors Private Limited, IFarm Equity Advisors Private Limited, Ruchi Industries Pte. Limited, Ruchi Ethiopia Holdings Limited.
Mr. Dinesh Shahra
(Managing Director, Executive Director)
Mr. Dinesh Shahra is Managing Director, Executive Director of Subject, since January 7, 1986. He holds B.E. (Chemical Engineering) from HBIT, Kanpur (UP). He has been Managing Director of Ruchi Soya Industries Limited since January 7, 1986. He holds Directorship of other companies are Ruchi Worldwide Limited, Jafra Ruchi Cosmetics India Private Limited, Ruchi Multitrade Private Limited, Evershine Oleochem Limited, Shahra Brothers Private Limited, Shahra Estate Private Limited, Ruchi Infrastructure Limited, Mangalore Liquid Impex Private Limited, Brightstar Infrastructure Private Limited, Ruchi Green Energy Private Limited, Hightech Realties Private Limited, Spectra Realties Private Limited, IFarm Venture Advisors Private Limited, IFarm Equity Advisors Private Limited, Ruchi Industries Pte. Limited, Ruchi Ethiopia Holding Limited.
PRESS RELEASE
Ruchi Soya registers 65% higher
sales in H1
Lower PAT in Q2 due to higher cost of raw
materials and exceptional fall in the Indian Rupee value against US Dollar
November15, 2011;
Mumbai: Ruchi Soya Industries Limited (RSIL) has announced its unaudited
financial results for the half year (H1) and quarter (Q2) ended September 30,
2011.
As compared to the
corresponding period of the previous year, net sales in H1 rose by 65% from
Rs.72628.700 millions to Rs.119747.800 millions. Profit after Tax (PAT)
declined by 40% from Rs.1160.400 millions to Rs.699.400 millions for the half
year ended September 30, 2011.
Net sales in Q2 rose
by 60% from Rs.38058.300 millions to Rs.60758.900 millions. Net profit declined
from Rs.636.300 millions to Rs.37.800 millions for the quarter ended September
30, 2011.
Commenting on the
performance for Q2, Mr. Dinesh Shahra, Managing Director, Ruchi Soya Industries
Limited said, “The margin for the quarter has been impacted by the higher raw
material prices, volatility in the commodity prices and marked to market (MTM)
provisions due to steep fall in the USD-INR exchange rate. The provision of
unrealized loss of Rs.849.300 millions on restatement of the monetary items at
the close of the quarter is primarily on account of the USD borrowings. If the
Rupee strengthens, this could be made up and impact positively in the coming
quarters.
The soya crop for
the current season is reported to be better than the previous year. We are
looking at higher capacity utilization of soya crushing operations in the
current year and are hopeful of achieving better performances in the coming
quarters.
RSIL is
strengthening manufacturing processes while realigning products and markets for
value creation. In the times to come, RSIL will focus on branded sales growth
with product innovations.”
During Q2, the
capacity utilization of crushing facilities increased from 36% to 41% and
refining facilities increased from 76% to 82%. Imports rose by 35% from
Rs.13492.200 millions to Rs.18206.200 millions. Despite lean season for soya
crushing operations, the exports increased by 41% from Rs.2693.900 millions to
Rs.3798.100 millions. The Branded sales have gone up by 50% from Rs.9308.200
millions to Rs.13972.600 millions.
Ruchi Soya Industries Limited
Featuring among the
top five FMCG players in
Revised
disclosures under Reg. 8A (4) of SEBI (SAST) Regulations, 1997
India, Oct. 19 -- With reference to earlier disclosure dated October 18, 2011Ruchi Soya Industries Limited has now submitted the disclosure under Regulation 8A(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 to BSED rate of Reporting : October 18, 2011Name of the Company : Ruchi Soya Industries Limited Total no of outstanding shares of the Company : 33,30,18,422 Name of the Entity : APL International Private Limited Details of Transaction Date of Transaction : September 30, 2011Number of Shares Pledged : 5,53,100 Aggregate details after the transaction Total no of shares held by the entity in the company : 65,96,805Total No of shares pledged : Nil% of total shares pledged to total no of shares held by the entity in the Company : Nil% of shares pledged to total no of outstanding shares of the Company
News
Clarification
Ruchi
Soya eyeing 15-20% growth in revenue as well as profit
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.55.38 |
|
|
1 |
Rs.87.80 |
|
Euro |
1 |
Rs.69.48 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
66 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.