1. Summary Information
|
|
|
Country |
|
|
Company Name |
BALMER LAWRIE AND COMPANY LIMITED |
Principal Name 1 |
Mr. S. K. Mukherjee |
|
Status |
Good |
Principal Name 2 |
Mr. V. N. Sharma |
|
|
|
Registration # |
21-004835 |
|
Street Address |
Balmer Lawrie House, 21, Netaji Subhas Road, Kolkata – 700
001, |
||
|
Established Date |
18.02.1924 |
SIC Code |
-- |
|
Telephone# |
91-33-22225322 / 5314 / 2222 5218 |
Business Style 1 |
Manufactures |
|
Fax # |
91-33-2248 3768 / 4558 / 2243 4477 / 4478 / 4479 |
Business Style 2 |
- |
|
Homepage |
Product Name 1 |
Barrels
and Drums |
|
|
# of employees |
1417 [Approximately] |
Product Name 2 |
Lpg
Cylinders |
|
Paid up capital |
Rs.162,860,810/- |
Product Name 3 |
Leather
Chemicals |
|
Shareholders |
Public Shareholdings – 100% |
Banking |
Allahabad Bank Bank of |
|
Public Limited Corp. |
Yes |
Business Period |
88 Years |
|
IPO |
Yes |
International Ins. |
- |
|
Public |
Yes |
Rating |
A (64) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding Company |
- |
Balmer
Lawrie Investments Limited |
- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
6,620,151,000 |
Current Liabilities |
4,222,093,000 |
|
Inventories |
1,193,163,000 |
Long-term Liabilities |
0,000 |
|
Fixed Assets |
1,884,916,000 |
Other Liabilities |
1,054,710,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
5,276,803,000 |
|
Invest& other Assets |
916,931,000 |
Retained Earnings |
5,175,497,000 |
|
|
|
Net Worth |
5,338,358,000 |
|
Total Assets |
10,615,161,000 |
Total Liab. & Equity |
10,615,161,000 |
|
Total Assets (Previous Year) |
9,347,828,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
761,152,300 |
Net Profit |
1,210,885,000 |
|
Sales(Previous yr) |
6,608,602,000 |
Net Profit(Prev.yr) |
1,172,920,000 |
MIRA
INFORM REPORT
|
Report Date : |
06.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
BALMER LAWRIE AND COMPANY LIMITED |
|
|
|
|
Registered Office : |
Balmer Lawrie House, 21, Netaji Subhas Road, Kolkata – 700
001, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
18.02.1924 |
|
|
|
|
Com. Reg. No.: |
21-004835 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.162.861 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
L15492WB1924GOI004835 |
|
|
|
|
TAN No.: [Tax
Deduction and Collection Account No.] |
CALB00200E |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The company’s shares are listed on the Stock Exchanges. |
|
|
|
|
Line of Business : |
Manufactures
industrial packaging, barrels and drums, LPG cylinders, greases and
lubricants, leather chemicals, functional additives and marine freight
containers. |
|
|
|
|
No. of Employees
: |
1417 [Approximately] |
RATING and COMMENTS
|
MIRA’s Rating : |
A (64) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 21300000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and reputed company having good track.
Financial position of the company is good. Trade relations are fair. Business
is active. Payments are regular and as per commitment. The company can be considered good for business dealing 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
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 / Corporate Office : |
Balmer Lawrie House, 21, Netaji Subhas Road, Kolkata – 700
001, West |
|
Tel. No.: |
91-33-22225322 / 5314 / 2222 5218 |
|
Fax No.: |
91-33-2248 3768 / 4558 / 2243 4477 / 4478 / 4479 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Overseas
Offices : |
Locate At: |
|
|
|
|
SBU-Industrial Packaging : |
149, |
|
Tel. No.: |
91-22-2413 2421 |
|
|
|
|
SBU-Greases &
Lubricants: |
P-43, |
|
Tel. No.: |
91-33-24505306 |
|
|
|
|
SBU-Leather Chemicals : |
32, |
|
Tel. No.: |
91-44-594 1456 |
|
|
|
|
SBU-Travel & Tours : |
4th Floor, Core 8, Scope Complex, |
|
Tel. No.: |
91-11-2436 0535 |
|
|
|
|
SBU- Logistics Services: |
21, |
|
Tel No.: |
91-33-2213 4644 |
|
|
|
|
SBU- Refinery and Oil Field
Services : |
21, |
|
Tel No.: |
91-33-22225610/22134674 |
|
|
|
|
Other Offices |
Located at : Cargo Ahmedabad,
Grease and
Lubricants Chennai, Kolkata, Mumbai and Silvassa Industrial
Packaging Chennai, Kolkata,
International
Business Kolkata and Mumbai
Leather Chemicals Chennai and
Research and
Development Chennai and Kolkata
Speciality
Containers
Tea Packaging and
Exports
Travel and Ahmedabad, |
DIRECTORS
As on 31.03.2011
|
Name : |
Mr. S. K. Mukherjee |
|
Designation : |
Chairman and Managing Director |
|
|
|
|
Name : |
Mr. Prakash |
|
Designation : |
Government Nominee Director |
|
|
|
|
Name : |
Mr. VLVSS Subba Rao |
|
Designation : |
Government Nominee Director |
|
Date of Birth/Age : |
09.06.1961 |
|
Qualification : |
Master Degree In Economics, Member, Indian Economic
Service |
|
Experience : |
He has a working experience of about 24 years during which
he has developed expertise in the functional areas of Finance, Project
Appraisal, Trade Logistics, Training And Economic Administration |
|
Date of Appointment : |
13.10.2008 |
|
|
|
|
Name : |
Mr. V. Sinha |
|
Designation : |
Director (Service Businesses) |
|
|
|
|
Name : |
Mr. V. N. Sharma |
|
Designation : |
Director ( Manufacturing Business) |
|
Qualification : |
B. Tech, MBA |
|
|
|
|
Name : |
Mr. K. Subramanyam |
|
Designation : |
Director (Finance) |
|
|
|
|
Name : |
Mr. Kashi C. Murarka |
|
Designation : |
Independent Director |
|
Date of Birth/Age : |
10.08.1945 |
|
Qualification : |
B.Sc. |
|
Experience : |
He has a working experience of 42 years during which he
has developed expertise in the areas of marketing, research & development
with specialization in manufacturing of dyes and chemicals. |
|
Date of Appointment : |
26.12.2008 |
|
Other Directorship : |
|
|
|
|
|
Name : |
Mr. Arun Seth |
|
Designation : |
Independent Director |
|
Date of Birth/Age : |
19.11.1951 |
|
Qualification : |
B Tech, Master of business administration |
|
Experience : |
He has working experience over 32 years including experience in the
Telecom Industry in the course of which ha has developed commercial and
technical expertise in Information Technology and Telecommunication |
|
Date of Appointment : |
26.12.2008 |
|
Other Directorship : |
|
|
|
|
|
Name : |
Mr. M P Bezbaruah |
|
Designation : |
Independent Director |
|
Date of Birth/Age : |
01.12.1941 |
|
Qualification : |
M.A ( |
|
Experience : |
He is a retired IAS and has a working experience of 37 years in the
area of Civil Services. |
|
Date of Appointment : |
26.12.2008 |
|
|
|
|
Name : |
Mr. P K Bora |
|
Designation : |
Independent Director |
|
|
|
|
Name : |
Mr. Asish K. Bhattacharyya |
|
Designation : |
Independent Director |
|
|
|
|
Name : |
Mrs. Abha Chaturvedi |
|
Designation : |
Independent Directors |
MANAGEMENT
|
Name : |
Mr. Swapan KR Mukherjee |
|
Designation : |
Chairman & Managing
Director |
|
Date of Birth/Age : |
8/12/1951 |
|
Qualification : |
B. Com., AICWA |
|
Experience : |
42 Years |
|
Date of Appointment : |
15/01/1976 |
|
|
|
|
Name : |
Mr. V Narayan Sharma |
|
Designation : |
Director [Manufacturing
Businesses] |
|
Date of Birth/Age : |
4/7/1952 |
|
Qualification : |
B.Tech. [Chem.] PG DIP.
in BM |
|
Experience : |
36 Years |
|
Date of Appointment : |
5/5/1975 |
|
|
|
|
Name : |
Mr. KR ishnamurti
Subramanyan |
|
Designation : |
Director [Finance] |
|
Date of Birth/Age : |
17/11/1952 |
|
Qualification : |
B.Com. ACA |
|
Experience : |
33 Years |
|
Date of Appointment : |
8/2/1980 |
|
|
|
|
Name : |
Mr. Virendra Sinha |
|
Designation : |
Director [Service
Businesses] |
|
Date of Birth/Age : |
13/07/1955 |
|
Qualification : |
BA, MBA |
|
Experience : |
33 Years |
|
Date of Appointment : |
1/12/2006 |
|
|
|
|
Name : |
Smt. Arundhaty Ghosh |
|
Designation : |
Chief Vigilance Officer |
|
Date of Birth/Age : |
30/08/1960 |
|
Qualification : |
MA in Humanities Diploma
in Mail Mgmt. |
|
Experience : |
25 Years |
|
Date of Appointment : |
14/12/2010 |
|
|
|
|
Name : |
Mr. Prem Prakash Sahoo |
|
Designation : |
Executive Director [Human
Resource] |
|
Date of Birth/Age : |
7/5/1954 |
|
Qualification : |
Ba[Hons], MA[PM&IR]
LL.B. |
|
Experience : |
33 Years |
|
Date of Appointment : |
17/07/1987 |
|
|
|
|
Name : |
Mr. Niraj Gupta |
|
Designation : |
Executive Director
[Logistics] |
|
Date of Birth/Age : |
17/07/1955 |
|
Qualification : |
B.Com.[Hons], ACA |
|
Experience : |
31 Years |
|
Date of Appointment : |
3/3/1980 |
|
|
|
|
Name : |
Mr. Anand Dayal |
|
Designation : |
Executive Director
[Industrial Packaging] |
|
Date of Birth/Age : |
13/12/1954 |
|
Qualification : |
BA Dip In Mktg. Mgt. |
|
Experience : |
34 Years |
|
Date of Appointment : |
1/1/2008 |
|
|
|
|
Name : |
Mr. K Gopinathan |
|
Designation : |
Executive Director [Lubes
And Chemicals] |
|
Date of Birth/Age : |
1/12/1952 |
|
Qualification : |
B.Sc.(Engg.) Mech. |
|
Experience : |
35 Years |
|
Date of Appointment : |
3/7/1980 |
|
|
|
|
Name : |
Mr. S Ravikumar |
|
Designation : |
General Manager
[Chemicals And R&D] |
|
Date of Birth/Age : |
1/5/1954 |
|
Qualification : |
B.Tech. [Chem.] ME(Chem.) |
|
Experience : |
32 Years |
|
Date of Appointment : |
18/11/1983 |
|
|
|
|
Name : |
Mr. H K Bhoklay |
|
Designation : |
General Manager
[Strategic Planning & Jv Co-Ordntn] |
|
Date of Birth/Age : |
4/2/1955 |
|
Qualification : |
B.Sc.(Hons) Agri. PG DIP
in Mgmt |
|
Experience : |
33 Years |
|
Date of Appointment : |
2/5/1978 |
|
|
|
|
Name : |
Mr. Ananda Sengupta |
|
Designation : |
General Manager
[Operations] |
|
Date of Birth/Age : |
26/02/1956 |
|
Qualification : |
BME, PGDBM PGDHRM |
|
Experience : |
31 Years |
|
Date of Appointment : |
16/07/2001 |
|
|
|
|
Name : |
Mr. A K Khuller |
|
Designation : |
General Manager [Travel &
Tours] |
|
Date of Birth/Age : |
1/8/1951 |
|
Qualification : |
BA |
|
Experience : |
39 Years |
|
Date of Appointment : |
15/11/1979 |
|
|
|
|
Name : |
Mr. Ashoke KR Paul |
|
Designation : |
General Manager
[Technical] |
|
Date of Birth/Age : |
7/1/1953 |
|
Qualification : |
BE[Chem], ME(Chem), PG
Dip in Fuel Efficiency |
|
Experience : |
33 Years |
|
Date of Appointment : |
3/11/1986 |
|
|
|
|
Name : |
Mr. Murthy Ramkrishna |
|
Designation : |
General Manager
(Operations) |
|
Date of Birth/Age : |
10/10/1954 |
|
Qualification : |
B.Sc.(Hons); Ma In Social
Sc Dip. PM&IR, LL.B. |
|
Experience : |
33 Years |
|
Date of Appointment : |
9/6/1980 |
|
|
|
|
Name : |
Mr. Prabal Basu |
|
Designation : |
General Manager (Finance) |
|
Date of Birth/Age : |
18/10/1963 |
|
Qualification : |
B.Com.[Hons], ACA AICWA,
ACS |
|
Experience : |
24 Years |
|
Date of Appointment : |
4/4/1988 |
|
|
|
|
Name : |
Mr. K C Surendran |
|
Designation : |
General Manager
(Operations] |
|
Date of Birth/Age : |
11/6/1953 |
|
Qualification : |
B.Sc, PG Dip in Matls.
Mgmt |
|
Experience : |
36 Years |
|
Date of Appointment : |
2/5/1979 |
|
|
|
|
Name : |
Mr. G N Mattoo |
|
Designation : |
General Manager [Hr
Services] |
|
Date of Birth/Age : |
25/02/1954 |
|
Qualification : |
B.Sc, PG Dip in SW PG Dip
Banking Admn MBA |
|
Experience : |
32 Years |
|
Date of Appointment : |
3/6/1988 |
|
|
|
|
Name : |
Mr. Pulak Behari Pal |
|
Designation : |
General Manager
[Engineering & Projects] |
|
Date of Birth/Age : |
10/4/1953 |
|
Qualification : |
Be(Hons) FIE, PGDBM |
|
Experience : |
35 Years |
|
Date of Appointment : |
16/09/1985 |
|
|
|
|
Name : |
Mr. Pranab KR Ghosh |
|
Designation : |
General Manager [New
Initiatives] |
|
Date of Birth/Age : |
1/6/1953 |
|
Qualification : |
B.Sc. AICWA |
|
Experience : |
37 Years |
|
Date of Appointment : |
1/4/1981 |
|
|
|
|
Name : |
Mr. Manash Mukhopadhyay |
|
Designation : |
General Manager [It] |
|
Date of Birth/Age : |
6/1/1955 |
|
Qualification : |
B.Sc.(Hons), M.Stat. Dip.
in |
|
Experience : |
33 Years |
|
Date of Appointment : |
1/6/1993 |
|
|
|
|
Name : |
Mr. Biswarup Chakraborti |
|
Designation : |
General Manager
[Operations] |
|
Date of Birth/Age : |
14/02/1957 |
|
Qualification : |
BE(Metallurgical) PGD IN
SQC Dip. in MGMT |
|
Experience : |
30 Years |
|
Date of Appointment : |
4/5/1985 |
|
|
|
|
Name : |
Mr. VRS Pillai |
|
Designation : |
General Manager [Hrd] |
|
Date of Birth/Age : |
20/05/1952 |
|
Qualification : |
BA, MBA[HRM] Dip. in
T&D |
|
Experience : |
38 Years |
|
Date of Appointment : |
5/11/1997 |
|
|
|
|
Name : |
Mr. Amit Ghosh |
|
Designation : |
Company Secretary |
|
Date of Birth/Age : |
21/10/1954 |
|
Qualification : |
B.Com.[Hons] ACA, ACS, LL.B |
|
Experience : |
30 Years |
|
Date of Appointment : |
13/8/2007 [On Deputation] |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Category of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of promoter
and Promoter Group |
|
|
|
1) Indian |
- |
- |
|
|
|
|
|
2) Foreign |
- |
- |
|
|
|
|
|
(B) Public Shareholdings |
|
|
|
1) Institutions |
|
|
|
a) Mutual Funds |
769217 |
4.72 |
|
b) Financial Institutions/Banks |
10426 |
0.06 |
|
c) Central Government / State Government(s) |
7485 |
0.05 |
|
d) Insurance Companies |
1371779 |
8.42 |
|
c) Foreign Institutional Investors |
335045 |
2.06 |
|
|
|
|
|
2) Non – Institution |
|
|
|
a) Bodies corporate |
10581509 |
64.97 |
|
|
|
|
|
b) Individuals |
|
|
|
i. Individual Shareholders holding nominal share capital upto Rs.0.100
Million |
2661689 |
16.34 |
|
ii. Individual Shareholders holding nominal share capital in excess
Rs.0.100 Million |
398045 |
2.44 |
|
|
|
|
|
c) Any other |
150886 |
0.93 |
|
Director and their relative and friends |
2392 |
0.01 |
|
Clearing members |
17401 |
0.11 |
|
Trusts |
1400 |
0.01 |
|
Non resident Indians |
129693 |
0.80 |
|
Sub Total (B)
(2) |
13792129 |
84.69 |
|
(B) = (B) (1) +
(B) (2) |
16286081 |
100.00 |
|
Total (A) + (B) |
16286081 |
100.00 |
|
Shares
held by custodians and against which depository receipts have been
issued (C) |
- |
- |
|
Total (A) + (B) +(C) |
16286081 |
- |
BUSINESS DETAILS
|
Line of Business : |
Manufactures
industrial packaging, barrels and drums, LPG cylinders, greases and
lubricants, leather chemicals, functional additives and marine freight
containers. |
||||||||||||
|
|
|
||||||||||||
|
Products : |
|
||||||||||||
|
|
|
||||||||||||
|
Brand Name : |
BALMEROL |
PRODUCTION STATUS [As on 31.03.2011]
|
Particulars |
|
Unit |
Installed
Capacity |
Actual
Production |
|
Greases
and Lubricating Oils |
|
M.T. / K.L. |
58080 |
45486 |
|
Barrels
and Drums |
|
Nos. |
4200000 |
3608719 |
|
Blended
Tea including Bulk, Packets and Tea Bags |
|
M.T. |
3000 |
71 |
|
Leather
Auxiliaries |
|
M.T. |
3498 |
6994 |
Note :
(i) Under the Industrial Policy Statement dated 24th July, 1991 and the notifications issued there under, no licensing is required for the Company’s products.
(ii) Installed Capacities are as certified by the
Management.
GENERAL INFORMATION
|
No. of Employees : |
1417 (Approximately) |
|
|
|
|
Bankers : |
|
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Statutory Auditors : |
|
|
Name : |
J. Gupta and Company Chartered Accountants |
|
Address : |
12, |
|
|
|
|
Branch Auditors
: |
|
|
Name : |
Padmanabhan Prakash and Company Chartered Accountants |
|
Address : |
5, Smith Road, 2nd Floor, Northern Wing, Chennai – 600002, |
|
|
|
|
Name : |
M.M. Nissim and Company Chartered Accountants |
|
Address : |
Barodawala Mansion, B-Wing, 3rd Floor, 81, Dr. Annie Besant
Road, Worli, Mumbai – 400018, Maharashtra, India |
|
|
|
|
Name : |
H.S. Rustagi and Company Chartered Accountants |
|
Address : |
4654/21, Daryaganj, 2nd Floor, |
|
|
|
|
Internal Auditors : |
|
|
Name : |
Haribhakti and Company Chartered Accountants |
|
Address : |
Geetanjali Apartments, Flat No. 7G, 7th Floor, 8B, |
|
|
|
|
Collaborations : |
§
Chevron Research and Technology Company, §
Fuchs Petrolub AG, §
Hispano Quimica SA, § Nyco SA, France §
Royal Packaging §
Tectrans Technology §
§
Transamerica Leasing Inc, §
Vanderbilt Corporation, |
|
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Memberships : |
Confederation of Indian Industry |
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Wholly owned
Subsidiary : |
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Holding Company: |
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Joint Venture: |
§
Transafe Services Limited (formerly known as Indian
Container Leasing Company Limited ) § AVI-OIL India Private Limited § Balmer Lawrie (UAE) LLC § Balmer Lawrie-Van Leer Limited §
Avi – Oil |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30,000,000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9,065,547 |
Equity Shares fully paid up in cash |
Rs.10/- Each |
Rs.90.656 Millions |
|
448,130 |
Equity shares allotted as fully paid shares
pursuant to Amalgamation of Steel Containers Limited and industrial
containers limited with the company |
Rs.10/- Each |
Rs. 4.481
Millions |
|
6,772,404 |
Equity Shares allotted as fully paid bonus
shares by way of capitalization of General reserves and Share premium |
Rs.10/- Each
|
Rs.67.724 Millions |
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|
|
Total |
Rs.162.861 Millions |
Note :- Out of above, 10064700 Equity Shares are held
by Balmer Lawrie Investments Limited (Holding Company).
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 |
162.861 |
162.861 |
162.861 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
5175.497 |
4456.742 |
3720.615 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
5338.358 |
4619.603 |
3883.476 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
76.508 |
110.008 |
53.008 |
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|
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|
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TOTAL |
5414.866 |
4729.611 |
3936.484 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1884.916 |
1749.743 |
1691.823 |
|
|
Capital work-in-progress |
344.519 |
218.975 |
38.597 |
|
|
|
|
|
|
|
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INVESTMENT |
572.412 |
439.412 |
500.596 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1193.163
|
916.969
|
788.472
|
|
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Sundry Debtors |
3091.047
|
2446.730
|
2335.623
|
|
|
Cash & Bank Balances |
2669.775
|
2671.658
|
2487.332
|
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Other Current Assets |
0.000
|
0.000
|
0.000
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Loans & Advances |
859.329
|
904.341
|
683.809
|
|
Total
Current Assets |
7813.314
|
6939.698
|
6295.236
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
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|
|
|
Sundry Creditors |
4128.310
|
3664.244
|
3317.352
|
|
|
Other Current Liabilities |
93.783
|
74.437
|
122.828
|
|
|
Provisions |
978.202
|
879.536
|
1149.588
|
|
Total
Current Liabilities |
5200.295
|
4618.217
|
4589.768
|
|
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Net Current Assets |
2613.019
|
2321.481
|
1705.468
|
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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|
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TOTAL |
5414.866 |
4729.611 |
3936.484 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
|
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|
|
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Sales Turnover |
7611.523 |
6608.602 |
5513.637 |
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Trading Goods |
34.200 |
18.111 |
20.051 |
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Turnkey Project |
0.000 |
79.841 |
219.708 |
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Services |
12215.916 |
9426.736 |
10634.253 |
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Other Income |
637.165 |
592.557 |
578.009 |
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TOTAL (A) |
20498.804 |
16725.847 |
16965.658 |
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Less |
EXPENSES |
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|
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|
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Raw
Materials Consumed |
5580.052 |
4748.062 |
4133.171 |
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|
|
Purchase
Trading Goods |
31.901 |
14.990 |
15.209 |
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|
|
Purchase
Turnkey Projects |
0.000 |
126.016 |
210.907 |
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|
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Cost
of Services |
10317.543 |
7674.709 |
8710.146 |
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|
|
General
Expenditure |
2737.790 |
2567.796 |
2274.643 |
|
|
|
Prior
Period Adjustments |
1.447 |
1.404 |
0.930 |
|
|
|
Accretion/Decretion
to Inventories |
(101.591) |
(52.982) |
(0.152) |
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|
|
TOTAL (B) |
18567.142 |
15079.995 |
15344.854 |
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|
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1931.662 |
1645.852 |
1620.804 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
121.277 |
116.062 |
105.167 |
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|
|
|
|
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PROFIT BEFORE
TAX (E-F) (G) |
1810.385 |
1529.790 |
1515.637 |
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|
|
|
|
|
|
|
|
Less |
TAX (H) |
599.500 |
356.870 |
499.500 |
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|
|
|
|
|
|
|
|
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PROFIT AFTER TAX
(G-H) (I) |
1210.885 |
1172.920 |
1016.137 |
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|
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|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1656.518 |
1220.391 |
885.332 |
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|
|
|
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|
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|
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Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
300.000 |
300.000 |
300.000 |
|
|
|
Proposed Final Dividend |
423.438 |
374.580 |
325.722 |
|
|
|
Corporate Tax on Dividend |
68.692 |
62.213 |
55.356 |
|
|
BALANCE CARRIED
TO THE B/S |
2075.273 |
1656.518 |
1220.391 |
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|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Goods and components [FOB Basis] |
103.170 |
68.412 |
96.734 |
|
|
|
Interest and Dividend |
57.675 |
59.708 |
59.346 |
|
|
|
Services |
64.901 |
25.022 |
32.388 |
|
|
|
Freight, Insurance, Exchange Gain and
Miscellaneous items |
1.962 |
0.462 |
1.426 |
|
|
TOTAL EARNINGS |
227.708 |
153.604 |
189.894 |
|
|
|
|
|
|
|
|
|
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IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
155.003 |
199.809 |
129.505 |
|
|
|
Stores & Spares |
3.003 |
1.066 |
1.963 |
|
|
|
Capital Goods |
24.506 |
16.078 |
19.261 |
|
|
TOTAL IMPORTS |
182.512 |
216.953 |
150.729 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
74.35 |
72.02 |
62.39 |
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QUARTERLY RESULTS
|
PARTICULARS |
|
30.06.2011 |
30.09.2011 |
|
Type |
|
1st
Quarter |
2nd
Quarter |
|
Net Sales |
|
5900.500 |
5322.200 |
|
Total Expenditure |
|
5386.500 |
4937.800 |
|
PBIDT (Excl OI) |
|
514.000 |
384.400 |
|
Other Income |
|
173.800 |
88.900 |
|
Operating Profit |
|
687.800 |
473.300 |
|
Interest |
|
14.000 |
9.400 |
|
Exceptional Items |
|
0.000 |
0.000 |
|
PBDT |
|
673.800 |
463.900 |
|
Depreciation |
|
31.900 |
34.900 |
|
Profit Before Tax |
|
641.900 |
429.000 |
|
Tax |
|
192.800 |
137.700 |
|
Provisions and contingencies |
|
0.000 |
0.000 |
|
Profit After Tax |
|
449.100 |
291.300 |
|
Extraordinary Items |
|
0.000 |
0.000 |
|
Prior Period Expenses |
|
0.000 |
0.000 |
|
Other Adjustments |
|
0.000 |
0.000 |
|
Net Profit |
|
449.100 |
291.300 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
5.91
|
7.01
|
5.99
|
|
|
|
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
23.78
|
23.15
|
27.49
|
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|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.67
|
17.60
|
18.98
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34
|
0.33
|
0.39
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.97
|
1.00
|
1.18
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.50
|
1.50
|
1.37
|
LOCAL AGENCY FURTHER INFORMATION
Company History:
Subject is a Calcutta-based company. Manufactures industrial packaging, barrels
and drums, LPG cylinders, greases and lubricants, leather chemicals, functional
additives and marine freight containers. It also undertakes tea exports and
trading, travel, tours, and cargo and engineering services such as turnkey
projects, energy-audit and consultancy and freight-container repairs. It is the
largest manufacturer of steel barrels in
Overview
The Company recorded significant achievements in the year 2010–11, some
of which are as follows:
- The Company
recorded its highest ever Turnover with net sales at Rs. 20500 millions as
against Rs. 16730 millions in 2009-10, marking an increase of 23% over the
previous year.
- Profit Before
Tax increased from Rs. 1530 millions in 2009-10 to Rs. 1810 millions in
2010-11, an increase of more than 18% over the previous year.
- Profit After
Tax increased from Rs. 1170 millions in the previous year to Rs. 1210
millions, in 2010-11, an increase of 3% over the previous year.
- Four business
segments viz., Tours and Travel, Industrial Packaging, Greases and
Lubricants, Logistics Infrastructure and Services stood out as the main
revenue generators.
Report on
Subsidiary
Balmer Lawrie (
Balmer Lawrie (UK) Limited (‘BLUK’) is a wholly owned subsidiary of the
Company incorporated in the U.K. BLUK was earlier engaged in Leasing and Hiring
of Marine Freight Containers and Tea Warehousing, Blending and Packaging. After
exiting these two businesses, the company utilized the proceeds to fund other
business opportunities.
BLUK has to date invested approximately US $ 1.32 million [including US$
0.14 million in 2010-11], equivalent to Indonesian Rupiah12.30 billion,
representing 50% of the paid up equity share capital of the joint venture
company, PT. Balmer Lawrie Indonesia (PTBLI), formed to manufacture and market
lubricating greases and other lubricants in
PTBLI’s plant is in advanced stage of completion and is expected to be
commissioned by September 2011.
Report on Joint
Ventures
AVI-OIL India
Private Limited (AVI-OIL)
During 2010-11 Avi-Oil has recorded lower sales of Rs. 340 millions as
against Rs. 400 millions achieved in the previous year. The decline has been
due to delay in the renewal of the rate contract with its major customer and
consequent lower off-take.
Avi-Oil participated in the International Aerospace Exposition “AERO
INDIA 2011” at Bengaluru, projecting the theme of ‘Self-Reliance’. The
contribution of Avi-Oil towards indigenisation of aerolubes was well
appreciated by the visitors.
During the year, Avi-Oil continued to maintain its registrations with
Director General Aeronautical Quality Assurance, Director General of Civil
Aviation and other registrations. An audit of Avi-Oil’s production, quality
assurance and documentation were conducted by
Balmer Lawrie-Van
Leer Limited (BLVL)
BLVL’s net sales, inclusive of other income increased to Rs. 1776.100
millions in 2010-11 from Rs. 1572.700 millions in the previous year. The demand
for Drum Closures both in the local and export market continued to be buoyant
throughout the year and business improved significantly with net sales up by
about 11% compared to the previous year. In Plastic Containers sales volume of
Valerex 20 range increased by 9% over the previous year.
During the year 2010-11, the Profit Before Tax of BLVL increased to Rs.
100.500 millions from Rs. 76.700 millions in 2009-10, an increase of 31%.
During the current financial year ICRA Limited upgraded BLVL’s Short
term rating from A2 to A2+ and Long term rating from LBBB+ to LA – reflecting
an improvement of its financial health.
Transafe Services
Limited (TSL)
TSL achieved a turnover of Rs. 764.000 millions during 2010-11— a fall
of around 7% compared to the turnover of Rs. 824.700 millions during the
previous year – and recorded loss (before tax) of Rs. 162.000 millions.
Performance of TSL during 2010-11 was adversely affected due to severe fund
crunch faced during major part of the year. While TSL’s turnover was broadly in
line with the projections made for the year, it recorded considerably higher
loss largely on account of making provision against old un-reconciled debtors.
TSL achieved EBIDTA [Earnings Before Interest, Depreciation, Tax and
Amortization] of Rs. 151.000 millions as compared to Rs. -109.000 millions in
the previous year.
The business activities of TSL include Leasing of freight containers,
Logistics services including Warehousing operations, manufacture of
custom-designed freight containers, Bunk Houses and other container
derivatives. It is
expected that TSL would achieve improved performance during 2011-12.
A scheme for restructuring the debts of TSL under the Corporate Debt
Restructuring (CDR) mechanism was approved in October 2010. In terms of the CDR
scheme, the Company has infused Rs. 78.000 millions into TSL -- Rs. 60.000
millions towards 60,00,000 Cumulative Redeemable Preference Shares [CRPS] of
Rs. 10 each for cash at par and the balance Rs. 18.000 millions as unsecured
loan, which would bear interest at the rate of 8.5% per annum till March 2015
and 9.5% thereafter. The unsecured loan of Rs. 73.000 millions earlier provided
by the Company in 2009 to TSL, has also been converted in to 73,00,000 CRPS of
Rs. 10 each at par.
Further to the criminal complaint filed by TSL against Shri Gopal Krishna Mukerjea, former Managing
Director and CEO of TSL (accused no.1), Shri Prithwi Manas Mitra , former
Senior Vice President (Finance) of TSL (accused no.2) and certain other
executives of TSL, it is known that the accused no.1 and 2 were arrested on 3rd
December, 2010 and placed under judicial
custody pending investigations. It is gathered that they were released on bail
on 3rd March 2011. Further action by the state in the matter is awaited.
The Company, along with the other shareholder in TSL – Balmer
Lawirie-Van Leer Limited (BLVL) - has filed a civil suit against the erstwhile
majority shareholders represented by ICICI Ventures, before the Calcutta High
Court on 12th May 2011, seeking relief inter alia to the effect that the sale of shares in TSL to the Company
and BLVL by ICICI Ventures is void entailing consequent restoration of all
advantages derived by each party from the void contract.
Balmer Lawrie
(UAE) LLC (BLUAE)
Despite the continuing effects of the global recessionary conditions,
difficult local market conditions including intensified competition and
pressure on product pricing, BLUAE turned in excellent results during the year
2010. Prices of main raw materials, viz. CR steel, Tinplate and HDPE showed
softening trend internationally for most part of the year; with HDPE prices
staging a mid-year reversal.
BLUAE is bracing itself to face the challenges and maintain its
pre-eminent position in the market. The company continues to upgrade its
facilities and systems to achieve process, product and technological
improvements and further enhance service levels with the aim of strengthening
its position as the most preferred vendor to customers in the region,
maintaining the highest level of business ethics and dependability.
MANAGEMENT DISCUSSION
AND ANALYSIS
The Company during the financial year 2010-11 would be better
evaluated/understood with a brief survey of the macroeconomic scenario both
within and outside the country. Available statistics indicate that the global
economy staged a smart recovery in 2010 with the output rising by 5% reversing
the decline of 0.6% in 2009. Nevertheless,
uncertainty still persists particularly in
Even with the ongoing ripple effects of the global crises – post
economic recession of 2008-09 – and the high rate of inflation experienced
during the last one year, the economic outlook in
The Company, Balmer Lawrie and Company Limited is a multi-product and
multi-location Company engaged in both manufacturing and service businesses
focused on increasing shareholder value. The business of the Company consists
of eight Strategic Business Units (SBUs), which are being discussed separately
herein below:
INDUSTRIAL
PACKAGING [SBU-IP]
Industry Structure and developments
SBU-IP offers an extensive range of 165 to 210 liter capacity mild steel
barrels from its six manufacturing units spread across the country to serve
diverse applications in the Petroleum, Chemicals and Food industries. The
Company is the largest manufacturer of steel barrels in the country.
The Industrial Packaging Industry is characterized by surplus capacities
and a large number of manufacturers, leading to depressed margins. The year
2010-11, witnessed a significant growth of the market enabling the SBU to record
its highest ever volume of sales and also contributed to the substantially
higher profits vis-ŕ-vis 2009-10. Cost of Cold rolled steel, which is the main
material input for the SBU, rose in the first quarter, was thereafter stable
for the better part of the year, picking-up once again towards the latter part
of the last quarter.
In 2010-11, the SBU commissioned a new barrel manufacturing plant at
Chittoor in Andhra Pradesh to provide better service for the local fruit
industry. The SBU continues to hold its lead position in terms of market share.
Outlook
Indicative trends point to an equally good, if not better demand in
2011-12. Based on the country achieving its targeted GDP growth, the SBU
expects its volume to grow further and market share to remain stable in
2011-12.
GREASES and
LUBRICANTS [SBU-G and L]
Industry Structure and developments
The size of the lubricant industry is estimated to have grown to about
1.5 million tons in 2010-11 valued at about Rs.120000 millions. Automotive
applications account for around 65% of the total lubricant market and the
balance would mainly consist of industrial and institutional sectors. The per
capita consumption of lubricants in
The lubricant industry in
Despite these challenges, in the long-term the overall outlook for the
automotive lubricant business appears to be good due to growing Indian economy
and increased purchasing power of the consumers.
Outlook
The lubricant industry has a good growth orientation against the
economic backdrop. From a strategic perspective, the Company proposes to
introduce more and more value-added speciality products for niche markets
particularly for the steel and the automobile sectors. Also on the anvil are
plans to manufacture ecofriendly / biodegradable lubricants in the Indian
market. Currently, the Indian market has only a negligible presence in these
types of lubricants.
LOGISTICS SERVICES
(SBU-LS)
Industry Structure and Developments
Logistics Industry is a sunrise industry which is forecast to grow
rapidly at a Compounded Annual Growth Rate (CAGR) of approximately 9%.
Available data indicates that the industry turnover lies somewhere in the
region of $ 80 billion - $ 100 billion. Much of the industry is fragmented with
a mere 10% under the control of the organized sector. The logistics cost in
Outlook
Enhanced focus on marketing efforts, especially directed at the Private
Sector, has been initiated by the SBU. The SBU expects to show growth both in
the top line and bottom line and is exploring possibilities of expanding its business
coverage through the opening of new branches in various cities and towns.
Industry Structure and Developments
The Aviation sector is amongst the fastest growing sectors in
The SBU is one of the largest travel agencies in the country affiliated
to the International Air Transport Association (IATA) which is currently
estimated to have more than 2600 members in
During 2010-11, the Government of India lifted the austerity measures –
restricting travel in the executive class in the Domestic sector and the
business class in the International sector for employees working in the
Government departments and PSUs. This had a positive impact on the business as
the SBU’s main customers are Government Departments and PSUs. On the downside,
there was no change in the status of ‘zero’ commission norm applied by the
European carriers despite advisory from the Directorate General of Civil Aviation
(DGCA) to all the airlines to restore commission payable to Travel Agents.
A welcome development during 2010-11 was Lufthansa giving an outstanding
performance award to the SBU for
its efficiency and effectiveness in functioning as an agency of the travel
industry.
Outlook
Given the strong market fundamentals, increase in capacity in the
domestic Airlines, particularly LCCs and Open Sky policy, it is expected that
the civil aviation market would continue to grow in the near term. Domestic and
International travel business is poised to grow with higher disposable income
in the hands of the people.
LOGISTICS
INFRASTRUCTURE [SBU-LI]
Industry Structure and Development
The Logistics container market consists of two major segments viz., (a)
Container Freight Station (CFS) and (b) Inland Container Depot [ICD]. The CFSs
represent the fastest growing segment in the Logistics container Industry.
Increasing international trade and rising containerization in
In the last five years, container traffic in Indian Ports has grown at a
CAGR of over 12%. However, the total containerized traffic, at major ports in
2010-11, was only 20% of the tonnage handled at these ports. This is quite low
compared with statistics pertaining to world sea trade which indicate that
nearly 50% thereof is containerized. The total containerized traffic currently
in India lies in the range of 8.75 million TEUs per annum and the market size
of Indian Container logistics is valued at close to ’75 billion.
The SBU-LI specializes in operating CFSs and Warehousing and
Distribution. Currently, the 3 CFSs of the Company are at Nava Sheva-Navi -
Mumbai, Chennai and Kolkata. Incidentally, these three ports account for nearly
80% of the total container traffic in
Outlook
With the continued growth in the EXIM trade, the SBU expects to accomplish
further growth in the coming years. This would be spurred by the increase in
handling capacity which is nearing completion at Kolkata and Chennai CFSs.
However, competitive pressures would be expected to increase and this is
expected to affect margins.
PERFORMANCE
CHEMICALS [SBU-PC]
Industry Structure and Developments
Globally Leather Trade is valued at US $ 145 Billion and is expected to
grow at the rate of 6% per annum to reach
US $ 245 billion by 2020.
Footwear segment would be the engine of growth for the leather sector.
Footwear will constitute about 60% of export and second important segment will
be leather goods.
Referring to the Leather Chemicals Industry, globally consumption of
Leather Chemicals is estimated at 1.8 million Tonnes.
Outlook
The leather industry in
As mentioned, the SBU has striven to broaden its activities by entry
into the business of manufacturing Construction Chemicals.
TEA [SBU-TEA]
Industry Structure and Developments
The drop in production was due to erratic weather conditions coupled
with pest attack in North Eastern India. There was a diminution in the volume
of tea exported as compared to 2009. However, domestic consumption of tea
touched 840 million Kg as against 832 million Kg. in the previous year, a
growth of around 3%.
Outlook
Plans have been chalked out to launch packed tea in domestic market and
to sell the same in select markets utilising the FMCG distribution channel. The
SBU proposes to launch high quality CTC tea under the Brand name Tarang and premium quality
Refinery and
Oilfield Services [SBU:ROFS]
Industry Structure and Developments
The Refinery and Oilfield Services portfolio consists of Mechanized Tank
Sludge Cleaning and Hydrocarbon Recovery services, Not many players are there
in the industry.
The SBU offers systems for prevention of vapour loss of petroleum
products from storage tanks and other technology driven services such as
Composite repair service, non-metallic technology for repair of pipelines /
storage tanks to avoid unplanned shutdown, preventive external action to check
corrosion and decontamination services for refineries and petrochemical plants.
Outlook
The SBU is working to expand its tie up with relevant international
technology suppliers and to intensify the marketing of the technologies.
Improved business prospects are seen in the coming years.
Contingent Liabilities :
Contingent Liabilities as at 31st March, 2011 not provided for in the
accounts are:
(a) Disputed demand for Excise Duty, Income Tax, Sales Tax and Service
Tax amounting to Rs.695.214 millions
(Rs.649.863 millions) against which the Company has lodged
appeal/petition before appropriate authorities. Details of such disputed
demands as on 31st March, 2011.
(b) Claims against the company not acknowledged as debts amounts to
Rs.71.047 millions (Rs.72.176 millions) in respect of which the Company has
lodged appeals/petitions before appropriate authorities. In respect of
employees/ex employees related disputes financial effect is ascertainable on
settlement
(c) Bills discounted with banks Rs.10.885 millions (Rs.7.577 millions).
UNAUDITED
FINANCIAL RESULTS FOR THE THREE MONTHS ENDED 30.09.2011
(Rs. in Millions)
|
Particulars |
3 Months Ended 30.09.2011 |
Year to date figures for the current period 30.09.2011 |
|
Income |
5322.200 |
11222.700 |
|
a) Net Sales / Income from Operations |
|
|
|
|
|
|
|
Expenditure |
|
|
|
(a) (Increase)/decrease in Stock in Trade |
[58.700] |
[67.400] |
|
(b) Consumption of Raw Materials |
4230.000 |
8849.200 |
|
(c) Purchase of traded goods |
2.200 |
6.300 |
|
(d) Employees Cost |
336.800 |
673.600 |
|
(e) Depreciation |
34.900 |
66.800 |
|
(f) Other Expenditure |
427.500 |
862.600 |
|
Total Expenditure |
4972.700 |
10391.100 |
|
Profit / (Loss) From Operations before other Income Interest & Exceptional Items |
349.500 |
831.600 |
|
Other Income |
88.900 |
262.700 |
|
Profit/(Loss) before Interest and Exceptional items |
438.400 |
1094.300 |
|
Interest |
9.400 |
23.400 |
|
Profit / (Loss) after interest before Exceptional items |
429.000 |
1070.900 |
|
Exceptional Items |
- |
- |
|
Profit / (Loss) From
Ordinary activities before Tax |
429.000 |
1070.900 |
|
Tax Expenses |
137.700 |
330.500 |
|
Net Profit/(Loss) From Ordinary activities after Tax |
291.300 |
740.400 |
|
Extraordinary Items |
- |
- |
|
Net Profit/(Loss) for the period |
291.300 |
740.400 |
|
Paid Up Equity Share Capital ( Face Value of the share Rs.10/- each ) |
162.900 |
162.900 |
|
Reserves (Excluding Revaluation Reserves) |
-- |
-- |
|
Earning per Share
(Rs.) (Not annulised) |
|
|
|
Basic and Diluted
EPS before Extraordinary Items |
17.89 |
45.46 |
|
Basic and Diluted EPS After Extraordinary Items |
17.89 |
45.46 |
|
Public Share Holding |
|
|
|
- Number of Shares |
6221381 |
6221381 |
|
- Percentage of shareholding |
38.20% |
38.20% |
|
Promoters and Promoter group share holding |
|
|
|
a) Pledged / Encumbered |
|
|
|
- Number of Shares |
-- |
-- |
|
- Percentage of share (as a % of the total shareholding of promoter and promoter group) |
-- |
-- |
|
- Percentage of shares(as a % of the total share capital of the company) |
-- |
-- |
|
b) Non-encumbered |
|
|
|
- Number of Shares |
10064700 |
10064700 |
|
- Percentage of Share (as a % of the total shareholding of promoter and promoter group) |
100% |
100% |
|
- Percentage of Share (as a % of the total share capital of the company) |
61.80% |
61.80% |
Notes :-
- Previous period / year’s figures have
been re-grouped / re-arranged wherever necessary.
- Net Sales/Income from Operations
excludes Excise Duty.
- The above results including Segment
Reporting have been approved by the Board of Directors at its meeting held
on 09.11.2011
- The above results have been subjected
to limited review by the Statutory Auditors of the Company in terms of
Clause 41 of the Listing Agreement.
- There was one complaint pending at the
beginning and end of the quarter and nil complaint pending at the end of
the quarter.
Statement of
Assets and Liabilities as required under clause 41 [V] (h) of the listing
agreement is as under
|
PARTICULARS |
As on 30.09.2011 (Unaudited) |
|
SHAREHOLDERS FUNDS |
|
|
Share Capital |
160.000 |
|
Reserves & Surplus |
5920.000 |
|
|
|
|
LOAN FUNDS |
340.000 |
|
Deferred Tax |
70.000 |
|
TOTAL |
6490.000 |
|
|
|
|
FIXED ASSETS |
2330.000 |
|
|
|
|
INVESTMENT |
570.000 |
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
Inventories |
1350.000 |
|
Sundry Debtors |
3590.000 |
|
Cash & Bank Balances |
2420.000 |
|
Loans & Advances |
1270.000 |
|
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
Current Liabilities |
4710.000 |
|
Provisions |
330.000 |
|
|
|
|
TOTAL |
6490.000 |
FIXED ASSETS ;
·
Freehold and
· Buildings and Sidings
· Plant and Machinery
· Spares for Plant and Machinery
· Electrical Installation and Equipment
· Furniture and Fittings
· Typewriters
· Accounting Machines
· Office Equipment
· Tube wells, Tanks and Miscellaneous Equipment
·
Vehicles
WEBSITE DETAILS:-
Business
Description
Subject is a multi-product and multi-location company engaged in both
manufacturing and service businesses. The Company operates in five segments: Industrial
Packaging, Logistics Infrastructure and Services, Travel and
Subject operates as a multi-activity, multi-technology and
multi-location company. The company is engaged in manufacturing, marketing and
service businesses. The company's businesses range from tea to shipping,
insurance to banking, trading to manufacturing. The company operates across the
Subject (Balmer Lawrie) is an India-based company, which is engaged in
manufacturing, marketing and service businesses. The company offers a broad
spectrum of products and services under the heads of industrial packaging,
greases and lubricants, logistics services, engineering and technology
services, travel and tours, logistics infrastructure, leather chemicals and
tea. Further, the company manufactures chemicals, such as synthetic fat liquors
and syntans used in the processing of leather. The company has three container
freight stations at Kolkata, Navi Mumbai and
The company has interests in the manufacture of barrels, drums, greases
and lubricants; blending, packaging and export of tea; consultancy services for
market research, technology transfer and techno-economic feasibility studies
Other Petroleum and Coal Products Manufacturing
Board of Directors
Shri. Swapan K. R.
Mukherjee
Shri. Swapan K. R. Mukherjee serves as Whole-Time Chairman of the Board,
Managing Director of Subject He was appointed the Managing Director on 1 April
2005 based on direction by the Government of India and was further re-appointed
at the 93rd Annual General Meeting held on 24 September 2010. He has served the
Company in various capacities since January 1976. Shri Mukherjee is a Bachelor
of Commerce and is a qualified Cost Accountant (AICWAI). He has a total working
experience of 42 years including 35 years in the Company during which he gained
specialization in the various functional areas like Accounts and Finance,
Taxation and General/Strategic Management. Shri Mukherjee’s is built on
assignments both at the Strategic Business Unit as well as at the Corporate
levels. He has been re-designated as Chairman and Managing Director of the
Company with effect from 29 July 2011 with all other terms remaining unchanged
pursuant to an advice received from the Ministry of Petroleum and Natural Gas,
Government of India.
Shri. M. P.
Bezbaruah
Shri. M. P. Bezbaruah serves as Non-Wholetime Independent Director of
Subject He was appointed by the Board as Director on 26 December 2008 based on
direction from the Government of India. Pursuant to Section 257 of the
Companies Act, 1956, he was appointed as a Director at the 92nd Annual General
Meeting held on 24 September 2009. Shri Bezbaruah is a Master of Arts as well
as Master of Public Administration. He is a retired IAS and has a working
experience of 37 years in the area of civil services.
Shri. Asish K.
Bhattacharyya
Shri. Asish K. Bhattacharyya serves as Non-Wholetime Independent
Director of Subject He was appointed as additional director on the Board on 26
December 2008. Shri Bhattacharyya is an Independent Director of the Company. He
is a fellow member of the Institute of Chartered Accountants of India and the
Institute of Cost and Works Accountants of India, besides being a Master of
Commerce, D. Phil. and Diploma in Management Accounting (ICA). Shri
Bhattacharyya has a working experience of 36 years during which he has acquired
in Accounting, Finance, Business Valuation and Corporate Governance.
Shri. P. K. Bora
Shri. P. K. Bora serves as Non-Wholetime Independent Director of Subject
He was appointed by the Board as Director on 26 December 2008 based on
direction from the Government of India. Pursuant to Section 257 of the
Companies Act, 1956, he was appointed as a Director at the 92nd Annual General
Meeting held on 24 September 2009. Shri Bora is a Master of Arts (in English)
and also a retired IAS. He has a working experience of 40 years during which he
gained in Development Administration and Financial Administration as also in
Tea and Tourism industries.
Smt. Abha
Chaturvedi
Smt. Abha Chaturvedi serves as Non-Wholetime Independent Director of
Subject She was appointed by the Board as Director on 26 December 2008 based on
direction from the Government of India. Pursuant to Section 257 of the
Companies Act, 1956, she was appointed as a Director at the 92nd Annual General
Meeting held on 24 September 2009. She is a Ph D. She has a working experience
of 38 years in the areas of teaching, research and management consultancy. Her
areas of specialization are Human Resource, Organization Behaviour and
Organization Sociology.
Shri. Kashi C.
Murarka
Shri. Kashi C. Murarka serves as Non-Wholetime Independent Director of
Subject He was appointed by the Board as Director on 26 December 2008 based on
direction from the Government of India. Pursuant to Section 257 of the
Companies Act, 1956, he was appointed as a Director at the 92nd Annual General
Meeting held on 24 September 2009. Shri Murarka is an Independent Director of
the Company. Shri Murarka is a Bachelor of Science. He has a working experience
of 42 years during which he has gained in the areas of marketing, research and
development with specialization in manufacturing of dyes and chemicals.
Shri. Shri Prakash
Shri. Shri Prakash serves as Non-Executive Director - Government Nominee
of Subject He was appointed as non-executive Director on the Board on 9 March
2010 based on direction from the Government of India. Pursuant to Section 257
of the Companies Act, 1956, he was appointed as a director at the 93rd Annual
General Meeting held on 24 September 2010. Shri Shri Prakash is a Master of
Arts and belongs to Central Secretariat Services cadre. He has a working
experience of 21 years during which he has developed knowledge and in the
functional areas of Administration, Vigilance and Training.
Shri. Arun Seth
Shri. Arun Seth serves as Non-Wholetime Independent Director of Subject
He was appointed by the Board as Director on 26 December 2008 based on
direction from the Government of India. Pursuant to Section 257 of the
Companies Act, 1956, he was appointed as a Director at the 92nd Annual General
Meeting held on 24 September 2009. Shri Seth is a Bachelor of Technology and
Master in Business Administration. He has a working experience of over 32 years
including experience in the Telecom Industry in the course of which Shri Seth
has developed commercial and technical in Information Technology and
Telecommunication.
Shri. V. Narayan
Shri. V. Narayan Sharma serves as Director - Manufacturing Businesses,
Whole-Time Director of Subject He was appointed as a Whole-time Director on 20
January 2005 based on direction by the Government of India and was further
re-appointed at the 93rd Annual General Meeting held on 24 September 2010. He
is a Bachelor of Technology (Chemical Engineering) and also holds Post
Graduation Diploma in Business Management. Shri Sharma has a total working
experience of 36 years during which he has developed in the functional areas of
Production and Operations Management, Project Management, R and D Management as
well as General Management.
Shri. Virendra
Sinha
Shri. Virendra Sinha has been appointed as Director - Service
Businesses, Whole Time Director of Subject He was appointed as a Whole-time
Director on the Board on 14 June 2010 based on direction by the Government of
India. Pursuant to Section 257 of the Companies Act, 1956, he was appointed as
a director at the 93rd Annual General Meeting held on 24 September 2010. He is
a Bachelor of Arts and holds a Masters Degree in Business Administration. He
has a working experience of 33 years during which he has developed in
Marketing, International Trade especially in understanding operation of
multi-modal logistics hubs and container freight stations and in General
Management.
Shri. V.L.V.S.S.
Subba Rao
Shri. V.L.V.S.S. Subba Rao has been appointed as Government Nominee
Director of Subject He was appointed as non-executive Director on the Board on
13 October 2008 based on direction from the Government of India. He is a
Government Nominee Director on the Board. Pursuant to Section 257 of the
Companies Act, 1956, he was appointed as a Director at the 92nd Annual General
Meeting held on 24 September 2009. He holds a Master Degree in Economics and is
a member of Indian Economic Services. He has a working experience of about 24
years during which he has developed knowledge and expertise in the functional
areas of Finance, Project Appraisal, Trade Logistics, Training and economic
administration.
Shri. Krishnamurti
Subramanyan
Shri. Krishnamurti Subramanyan serves as Director - Finance, Whole-Time
Director of Subject Shri K Subramanyan was appointed as a Whole-time Director on
30 December 2005 based on direction by the Government of India and was further
re-appointed at the 93rd Annual General Meeting held on 24 September 2010. He
is a Bachelor of Commerce and a qualified Chartered Accountant (ACA). He has a
working experience of 33 years during which he has developed in the functional
areas of Accounts and Finance, Taxation and General Management.
Press Release
XISS among top 16
business schools in India
13 December 2011
In the recently concluded campus placement drive by IDBI Bank, it has
picked up seven candidates as assistant manager grade 'A'. Ainsley Francis,
Abhishek Ekka, Sunaina Prasad, Subrata Banerjee, Ritika Raj, Rajib Rudra and
Satyajeet Kumar, are the lucky seven to get a job in banking sector.
Prior to this another Public Sector Bank UCO Bank picked up nine
students in scale-II. The names of the students are Avinash Murmu, Kirti
Shekhawat, Alma Anupama Minz, Vineet Kumar Singh, Sean Stanislaw, Dabeer Ul
Islam, Manuel Ritesh Minz, Akash Deep Saha and Amba Geetanjali.
Initially, another PSU M/s Balmer Lawrie and Company has visited the
campus and has offered Aniket Preetish the post of Executive Trainee in the
campus recruitment, said Sanjeev Bajaj, Chief Coordinator, Placement and
Corporate Communications, XISS.
Balmer Lawrie to
introduce domestic and outbound tour packages
18 November 2011
Balmer Lawrie
launches CSR initiative, to train 100 girls
17 December 2011
By Express news service
Balmer Lawrie and Company Limited, a PSU under the Ministry of Petroleum
and Natural Gas, GoI, launched a Corporate Social Responsibility (CSR)
initiative in collaboration with IATA Training and Development Institute and Trade-Wings
Institute of Management in the city.
The company would be imparting three month training in travel and
tourism to 100 girls from economically weaker sections across the country
during 2011- 12. The objective is to improve the employability of girl
students, said a press release issued by the company.
The three month training programme will be conducted at IATA approved
training centre of Trade- Wings. After completion of the course, successful
candidates will be eligible for a dual diploma in travel and tourism
management. The successful candidates would also be eligible to appear for
IATA's foundation course examination held on a quarterly basis. The programme
was inaugurated by P P Sahoo, executive director, HR, Balmer Lawrie and Company
Limited The programme was scheduled to commence in Mumbai in mid- December. The
programmes in Kolkata and Chennai have already started. The trainees would also
be given Rs 3000 per month as stipend.
Balmer Lawrie and
Company Limited Files Patent Application for a Synthetic Dispersant For
Lubricating Oil Formulations for Hot Metal Processing
26 August 2011
New Delhi, Aug. 26 -- India based Balmer Lawrie and Company Limited
filed patent application for a synthetic dispersant for lubricating oil
formulations for hot metal processing. The inventors are Das Mohan Lal, Dash
Madahaba Chandra, Ghosh Balaram and Pillai Gopinathan Kunjan.
Balmer Lawrie and Company Limited filed the patent application on Nov.
29, 2010. The patent application number is 1347/KOL/2010 A. The international
classification is C08F2/00.
According to the Controller General of Patents, Designs and Trade Marks,
"A synthetic dispersant and its process of manufacture for roll bite
lubricating oil formulations that forms unstable emulsion in water thus
providing for a stable dispersion in water with larger droplet size remaining
dispersed for a longer time and adapted to impart better lubricity at roll bite
and suitable for any application system that does not cause oil separation from
the system and choking of spray nozzles. The said synthetic dispersant
effectively disperses the base oil of the said oil formulation in water
comprising of synthetic esters to thereby result in a unstable oil-in-water
emulsion (stable dispersion) to serve the purpose of reducing wear and friction
at roll bite when applied onto it by a suitable application system."
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.48.96 |
|
|
1 |
Rs.77.46 |
|
Euro |
1 |
Rs.64.39 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
64 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.