MIRA
INFORM REPORT
|
Report Date : |
28.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
LIBERTY PHOSPHATE LIMITED |
|
|
|
|
Registered
Office : |
74/75, GIDC, Nandesari, Baroda-391340, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
03.04.1987 |
|
|
|
|
Com. Reg. No.: |
04-009543 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 194.382 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24110GJ1987PLC009543 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDL00137E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL3600N |
|
|
|
|
Legal Form : |
Public limited liability company. The company shares are listed to the
Stock Exchanges |
|
|
|
|
Line of Business
: |
The company is engaged in the manufacturing of single super phosphate
(SSP) and NPK fertilisers and magnesium sulphate (MGSO4). |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3600000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having satisfactory track.
Financial position of the company appears to be sound. Trade relations are reported
as fair. Business is active. Payments are reported to be correct 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
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 / Factory 1 : |
74/75, GIDC, Nandesari, Baroda-391340, Gujarat, India |
|
Tel. No.: |
91-265-3062099 / 3063377 / 3062599 / 2840217 / 2840096 |
|
Fax No.: |
91-265-3063499 |
|
E-Mail : |
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|
Website : |
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|
|
|
|
Corporate Office : |
5, Readymoney Terrace, 3rd Floor, 167, Dr. annie Besant
Road, Worli, Mumbai-400034, Maharashtra, India |
|
Tel. No.: |
91-22-24900103 /4 /5 |
|
Fax No.: |
91-22-24900106 |
|
|
|
|
Factory 2 : |
F-227, Mewar
Industrial Area, Madri, Udaipur -313 003, Rajasthan, India |
|
Tel. No.: |
91-294-490521
/490531 |
|
Fax No.: |
91-294-491458 |
|
|
|
|
Factory 3 : |
19, Bhimpura
Industrial Area, Jagpura Kota, Rajasthan, India |
|
|
|
|
Factory 4 : |
Survey No. 122
and 129, Rasal, Taluka Sudhagad, District Raigad Maharashtra, India |
|
Tel. No.: |
91-2142-241247 /
222124 |
|
Fax No.: |
91-2142-241247 |
DIRECTORS
AS ON 31.03.2011
|
Name : |
Mr. Raoof Razak Dhanani |
|
Designation : |
Chairman and Managing Director |
|
|
|
|
Name : |
Mr. Shakil Zakaria Memon |
|
Designation : |
Whole time Director |
|
|
|
|
Name : |
Mr. Vinit J. Shah |
|
Designation : |
Director (up to 13.04.2011) |
|
|
|
|
Name : |
Mr. Firoz Asgar Khambati |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Salim Abdul Aziz Sherani |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Abdul Mabood Shaikh |
|
Designation : |
Whole time Director |
|
|
|
|
Name : |
Mr. Hemant Motilal Shah |
|
Designation : |
Directo |
|
|
|
|
Name : |
Mr. Zafar Ullah Khan |
|
Designation : |
Whole time Director |
|
|
|
|
Name : |
Mr. Tuntun Singh |
|
Designation : |
Whole time Director (up to 13.04.2011) |
|
|
|
|
Name : |
Mr. Ajay Paliwal |
|
Designation : |
Additional Director (w.e.f. 23.03.2011) |
KEY EXECUTIVES
|
Name : |
Mr. Rehanuma Khan |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.12.2011
|
Category of
Shareholder |
No. of Shares |
% of No. of
Shares |
|
|
|
|
|
(1) Indian |
|
|
|
Bodies Corporate |
20,200 |
0.14 |
|
Any Others
(Specify) |
2,443,209 |
16.92 |
|
|
2,443,209 |
16.92 |
|
Sub Total |
2,463,409 |
17.06 |
|
(2) Foreign |
|
|
|
Individuals (Non-Residents Individuals / Foreign
Individuals) |
5,477,148 |
37.94 |
|
|
5,477,148 |
37.94 |
|
Total
shareholding of Promoter and Promoter Group (A) |
7,940,557 |
55 |
|
|
|
|
|
(1) Institutions |
|
|
|
|
|
|
|
Bodies Corporate |
350,920 |
2.43 |
|
Individuals |
|
|
|
Individual shareholders holding nominal
share capital up to Rs. 0.100 million |
2,279,483 |
15.79 |
|
|
1,595,058 |
11.05 |
|
Any Others
(Specify) |
2,272,183 |
15.74 |
|
|
188,995 |
1.31 |
|
Foreign Corporate Bodies |
2,000,000 |
13.85 |
|
Clearing Members |
83,188 |
0.58 |
|
Sub Total |
6,497,644 |
45 |
|
Total Public
shareholding (B) |
6,497,644 |
45 |
|
Total (A)+(B) |
14,438,201 |
100 |
|
|
- |
- |
|
(1) Promoter and Promoter Group |
- |
- |
|
(2) Public |
- |
- |
|
Sub Total |
- |
- |
|
Total (A)+(B)+(C) |
14,438,201 |
- |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the manufacturing of single super phosphate
(SSP) and NPK fertilisers and magnesium sulphate (MGSO4). |
||||
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||||
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Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed Capacity |
|
Single Super
Phosphate # |
|
|
|
Unit – Baroda (Gujarat) |
MT |
100000 |
|
Unit – Udaipur (Rajasthan) |
MT |
264000 |
|
Unit – Kota (Rajasthan) |
MT |
132000 |
|
Unit – Pali (Maharashtra) |
MT |
66000 |
|
MGSO4 # |
|
|
|
Unit – Baroda (Gujarat) |
MT |
5400 |
|
Particulars |
Unit |
Actual Production
|
|
Single Super Phosphate |
MT |
373454 |
|
NPK |
MT |
8220 |
|
Magnesium Sulphate |
MT |
4342 |
|
Rock Phosphate |
MT |
8605 |
|
Mono Ammounium Phosphate |
MT |
5291 |
|
GTSP |
MT |
2190 |
|
Di Ammonium Phosphate |
MT |
304 |
Notes:
* Licensed capacity
is not applicable in view of company's product has been de-licensed as per new
liberalized licensing policy announced by the Govt. of India. However,
capacities have been registered with the Secretariat of Industrial Approvals.
# Installed capacities
are certified by the Directors and accepted by the Auditors as correct, being a
technical matter.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
Canara Bank ·
IDBI Bank Limited ·
Karur Vysya Bank Limited ·
State Bank of Patiala ·
ICICI Bank |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Statutory Auditors : |
|
|
Name : |
V. Shah and Associates Chartered Accountant |
|
Address : |
12, Dhayber
Colony, Behind Baroda High School, Near Pologround, Baroda- 390 001, Gujarat,
India |
|
|
|
|
Name : |
K. L. Vyas and Company Chartered Accountant |
|
Address : |
Shop No.2, 2nd Floor,
Parshwanath Dava Bazar, 6, Hazareshwar Colony, Udaipur- 313 001, India |
|
|
|
|
Enterprises over
which Key Management Personnel with relatives, is able to exercise
significant influence: |
·
Tungabhadra Fertilizers and Chemicals Company
Limited ·
Liberty Pesticides and Fertilizers Limited (A
wholly owned subsidiary). ·
A.R. Exports. ·
Liberty Urvarak Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs. 200.000 Millions |
|
5000000 |
8% Cumulative Redeemable Preference Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
Total |
|
Rs. 250.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14438201 |
Equity Shares |
Rs.10/- each |
Rs. 144.382
Millions |
|
5000000 |
8% Cumulative Redeemable Preference Shares |
Rs.10/- each |
Rs. 50.000
Millions |
|
|
Total |
|
Rs. 194.382 Millions |
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 |
194.382 |
194.382 |
144.382 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
722.823 |
409.783 |
330.020 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
917.205 |
604.165 |
474.402 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
594.238 |
384.687 |
341.098 |
|
|
2] Unsecured Loans |
26.828 |
11.683 |
12.085 |
|
|
TOTAL BORROWING |
621.066 |
396.370 |
353.183 |
|
|
DEFERRED TAX LIABILITIES |
7.746 |
7.805 |
8.550 |
|
|
|
|
|
|
|
|
TOTAL |
1546.017 |
1008.340 |
836.135 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
302.809 |
221.024 |
152.857 |
|
|
Capital work-in-progress |
74.255 |
16.919 |
25.888 |
|
|
|
|
|
|
|
|
INVESTMENT |
29.879 |
29.376 |
11.254 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
890.355
|
1000.537 |
366.368 |
|
|
Sundry Debtors |
625.933
|
278.952 |
1094.427 |
|
|
Cash & Bank Balances |
326.312
|
102.815 |
205.209 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
224.990
|
199.942 |
92.302 |
|
Total
Current Assets |
2067.590
|
1582.246 |
1758.306 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
645.488
|
701.009 |
944.754 |
|
|
Other Current Liabilities |
160.751
|
129.178 |
120.129 |
|
|
Provisions |
122.754
|
16.233 |
56.894 |
|
Total
Current Liabilities |
928.993
|
846.420 |
1121.777 |
|
|
Net Current Assets |
1138.597
|
735.826 |
636.529 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.477 |
5.195 |
9.607 |
|
|
|
|
|
|
|
|
TOTAL |
1546.017 |
1008.340 |
836.135 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3641.777 |
2041.251 |
3048.586 |
|
|
|
Other Income |
34.818 |
59.096 |
4.545 |
|
|
|
Cost of SSP
Consumed for NPK Manufacturing |
0.099 |
0.736 |
0.000 |
|
|
|
TOTAL (A) |
3676.694 |
2101.083 |
3053.131 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Materials Consumed |
1677.749 |
1517.515 |
1538.591 |
|
|
|
Packing Material
Consumed |
94.401 |
80.107 |
62.836 |
|
|
|
Cost of Goods
Traded |
184.370 |
427.590 |
532.422 |
|
|
|
Manufacturing
Expenses |
160.103 |
123.578 |
96.171 |
|
|
|
Differential Price
on Rock Phosphate |
0.000 |
0.000 |
9.063 |
|
|
|
Personnel Cost |
123.898 |
80.161 |
60.540 |
|
|
|
Selling &
Distribution Expenses |
373.117 |
238.019 |
272.701 |
|
|
|
Administration
& General Expenses |
67.723 |
46.901 |
76.344 |
|
|
|
Differential
Custom Duty |
5.709 |
0.000 |
0.000 |
|
|
|
Increase/(Decrease)
in Stock of Finished Goods |
348.894 |
(564.798) |
19.152 |
|
|
|
Excess / (less)
Provision |
(1.637) |
(19.241) |
3.701 |
|
|
|
|
0.319 |
(0.423) |
0.021 |
|
|
|
TOTAL (B) |
3034.646 |
1929.409 |
2671.542 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
642.048 |
171.674 |
381.589 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
69.676 |
47.753 |
53.951 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
572.372 |
123.921 |
327.638 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
28.140 |
22.769 |
20.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
544.232 |
101.152 |
306.838 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
192.380 |
36.390 |
112.538 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
351.852 |
64.762 |
194.300 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
320.831 |
256.069 |
61.769 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend
Paid on Equity Shares |
8.663 |
0.000 |
0.000 |
|
|
|
Arrears of Dividend
Paid on 8% Cumulative Non Convertible Redeemable Preference Share |
12.000 |
0.000 |
0.000 |
|
|
|
Proposed Final
Dividend on Equity Share |
8.663 |
0.000 |
0.000 |
|
|
|
Proposed Dividend
on 8% Cumulative Non Convertible Redeemable Preference Share |
4.000 |
0.000 |
0.000 |
|
|
|
Tax on Dividend |
5.486 |
0.000 |
0.000 |
|
|
|
Amount
Transferred to General Reserve |
8.797 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
625.074 |
320.831 |
256.069 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
2.575 |
5.809 |
109.351 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
677.526 |
786.380 |
645.380 |
|
|
|
Traded Goods |
68.497 |
324.179 |
138.622 |
|
|
TOTAL IMPORTS |
746.023 |
1110.559 |
784.002 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2308 |
3.84 |
25.64 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2011 |
30.09.2011 |
31.12.2011 |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
1053.710 |
1103.900 |
1085.63 |
|
Total Expenditure |
867.630 |
923.190 |
862.560 |
|
PBIDT (Excl OI) |
186.080 |
180.710 |
223.070 |
|
Other Income |
0.000 |
0.000 |
0.000 |
|
Operating Profit |
186.080 |
180.710 |
223.090 |
|
Interest |
30.560 |
18.360 |
30.090 |
|
Exceptional Items |
0.000 |
0.000 |
(0.080) |
|
PBDT |
155.510 |
162.350 |
192.920 |
|
Depreciation |
8.490 |
4.720 |
6.790 |
|
Profit Before Tax |
147.020 |
157.630 |
186.130 |
|
Tax |
47.540 |
51.270 |
60.420 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
99.480 |
106.350 |
125.710 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.410 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
99.480 |
106.760 |
125.710 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
9.57
|
3.08 |
6.36 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
14.94
|
4.96 |
10.06 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
22.96
|
5.61 |
16.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.59
|
0.17 |
0.65 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.70
|
2.07 |
3.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.23
|
1.87 |
1.57 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS:
During the year
the Company recorded a turnover of Rs. 3676.595 Millions and earned a net
profit after tax of Rs. 351.852 Millions after providing for Income Tax as
compared with the corresponding figures in the previous year of Rs. 2101.083
millions and Rs. 64.762 Millions respectively. The turnover and net profit
after tax registered an increase of 74.99 % and 443.30 % over the corresponding
figures of previous year.
The increase in profitability
is due to constant endeavour of the management with regard to cost control and
cost reduction backed by higher capacity utilization.
PRODUCTION:
During the year,
the company achieved production of 386016 MT of Single Super Phosphate, NPK Mixed
Fertilizers and Magnesium Sulphate as against production of 357729 MT in the
previous year recording growth of 7.91 %.
SUBSIDIARY:
In view of the
General Circular No.2/2011 No.5/12/2007-CL-III dated 8th February, 2011 issued
by the Government of India, Ministry of Corporate Affairs, the Board of
Directors of the Company has given their consent
by passing a
resolution for not attaching the Balance Sheet of its wholly owned subsidiary
viz; Liberty Pesticides and Fertilizers Limited, and accordingly has not
attached the Balance Sheet of the Subsidiary as required pursuant to section
212 of the Companies Act,1956. Any shareholder desirous of obtaining the annual
accounts of the subsidiary company and the related detailed information may
write to the company for the same.
The annual
accounts of the subsidiary may be inspected by any member at the Registered
Office of the holding company or at the Registered Office of the subsidiary
company during working days in the office hours.
MANAGEMENT DISCUSSIONANDANALYSIS
INDUSTRY STRUCTURE AND DEVELOPMENT:
India is basically
an agricultural country in which economy depends largely upon its agrarian
produce. Agricultural sphere contributes about 25% to the country's GDP. As a
result, Indian fertilizer industry has tremendous scope in and outside the
country as it is one of the allied parts of agriculture.
Fertilizer
industry in India is dedicated to meet the requirements of agricultural
industry since its inception in 1906. The industry gained impetus in its growth
due to green revolution in late sixties, followed by seventies and eighties
when fertilizer industry witnessed an incredible boom in the fertilizer
production. However, conventional agricultural practices are still being
pursued by the farmers who use most efficacious quality seeds and fertilizer
due to poverty. Major portion of Indian farmland is Sulphur deficient, and it
adversely affects the crop yield. N, P, K and S in proper ratio helps eliminate
deficiency of soil. Single Super Phosphate (SSP) fertilizer contains Sulphur
and Calcium besides Phosphorus so it is an ideal manure to eliminate sulphur
deficiency of soil. SSP is a low priced fertilizer and also suitably meets the
essential nutrient requirements of the soil. Therefore, it is preferred by small
and marginal farmers. Subsidy on SSP has made it affordable by the cultivators.
Today, Indian Fertilizer Industry is developing in terms of technology. Indian
manufacturers are adopting advanced manufacturing processes to prepare
innovative new products for Indian agriculture. Indian farmers have started
making pace with the technological development. Uses of modern techniques of
sowing have shifted the demand towards the granular product.
PERFORMANCE:
Registering a
turnover of Rs. 3676.595 Millions, the Company has earned a net profit of Rs.
351.853 Millions after providing for Income Tax compared to the corresponding
figures in the previous year of Rs. 2101.083 Millions and Rs. 64.762 Millions
respectively. Consequently the turnover and net profit have soared by 74.99%
and 443.30 % over the corresponding figures of previous year. The higher demand
for fertilizers this fiscal is attributed to a better monsoon than the gone by
fiscal.
PRODUCTION:
During the year,
the company succeeded in surpassing the targeted production and achieved
production of 386016 MT of Single Super Phosphate, NPK Mixed Fertilizers and
Magnesium Sulphate as against production of 357729 MT in the previous year
recording growth of 7.91 %.
FUTURE OUTLOOK:
For an industry
dependent upon food grain production to meet the ever growing population, there
is nothing but growth in store and the future outlook is positive. Recent
policy initiatives by the Government pointing to decontrol augur well for the
company since the Government wants to give subsidy to the farmers directly
rather than routing it through fertilizer companies. When implemented, the
company's fund flow will improve since there will no delay in receiving funds
from the Government as subsidy which is a very time taking and cumbersome
process.
FIXED ASSETS
·
Leasehold Land
·
Agricultural Land
·
Factory Building
·
Plant and Machinery
·
Laboratory Equipments
·
Office Equipments
·
Computers
·
Furniture and Fixtures
·
Vehicles
UNAUDITED FINANCIAL RESULTS (PROVISIONAL) FOR THE QUARTER / PERIOD ENDED
31/12/2011
(Rs. in millions)
|
Sr. No. |
Particular |
Three Months
Ended |
Nine Months
Ended |
|
|
|
|
31/12/2011 (Unaudited) |
30/09/2011 (Unaudited) |
31/12/2011 (Unaudited) |
|
1. |
Net Sales/Income
from Operations |
1085.629 |
1103.617 |
3424.782 |
|
|
|
|
|
|
|
2. |
Expenditure |
|
|
|
|
|
a) (Increase) / Decrease in Stock in Trade |
(147.118) |
61.582 |
39.605 |
|
|
b) Purchase of Traded Goods |
87.476 |
11.852 |
137.427 |
|
|
c) Employees Cost |
41.170 |
38.440 |
111.976 |
|
|
d) Depreciation |
6.792 |
4.724 |
20.007 |
|
|
e) Other Expenditure |
63.238 |
70.253 |
196.354 |
|
|
f) Consumption of raw materials |
677.103 |
590.035 |
1762.764 |
|
|
g) Selling and Distribution Expenses |
92.749 |
144.013 |
350.296 |
|
|
h) Total |
921.411 |
920.899 |
2618.430 |
|
|
|
|
|
|
|
3. |
Profit From Operations before Other Income, Interest and
Exceptional Items (1-2) |
264.218 |
182.718 |
624.352 |
|
|
|
|
|
|
|
4. |
Other Income |
0.019 |
0.285 |
0.474 |
|
|
|
|
|
|
|
5. |
Profit Before Interest and Exceptional Items (3+4) |
264.237 |
183.003 |
624.826 |
|
|
|
|
|
|
|
6. |
Interest |
30.090 |
18.359 |
79.012 |
|
|
|
|
|
|
|
7. |
Profit After Interest but before Exceptional Items (5-6) |
234.147 |
164.644 |
545.814 |
|
|
|
|
|
|
|
8. |
Foreign Exchange
Fluctuation Loss /(Gain) |
47.941 |
7.014 |
54.955 |
|
|
|
|
|
|
|
9. |
Profit from Ordinary Activities before Tax (7+8) |
186.206 |
157.630 |
490.859 |
|
|
|
|
|
|
|
|
Excess / (Short)
and prior period (adjustments) / credits |
(0.075) |
0.409 |
0.338 |
|
|
|
|
|
|
|
10. |
Tax
Expense |
|
|
|
|
|
a) Current tax |
62.138 |
52.724 |
158.172 |
|
|
b) Deferred tax |
(1.717) |
(1.449) |
1.067 |
|
|
|
|
|
|
|
11. |
Net Profit from Ordinary Activities after Tax (9-10) |
125.711 |
106.764 |
331.959 |
|
|
|
|
|
|
|
12. |
Extraordinary Item (net of expense) |
-- |
-- |
-- |
|
|
|
|
|
|
|
13. |
Net Profit for the period (11-12) |
125.711 |
106.764 |
331.959 |
|
|
|
|
|
|
|
14. |
Paid-up Equity Share Capital (Face Value of Rs.10/- Each) |
144.382 |
144.382 |
144.382 |
|
|
|
|
|
|
|
15. |
Reserves Excluding Revaluation Reserve |
-- |
-- |
-- |
|
|
|
|
|
|
|
16. |
Basic
and Diluted Earning Per Share (EPS) (Rs.)-Not Annualised |
|
|
|
|
|
a) Basic and diluted EPS before extraordinary items |
8.64 |
7.33 |
22.78 |
|
|
b) Basic and diluted EPS after extraordinary items |
8.64 |
7.33 |
22.78 |
|
|
|
|
|
|
|
17. |
Public
Shareholding |
|
|
|
|
|
-Number of Shares |
6497644 |
6646994 |
6497644 |
|
|
- Percentage of Shareholding |
45.00% |
46.04% |
45.00% |
|
|
|
|
|
|
|
18. |
Promoters
and Promoter Group Shareholding |
|
|
|
|
|
a)
Pledged/Encumbered |
|
|
|
|
|
- Number of Shares |
700000 |
700000 |
700000 |
|
|
- Percentage of Shares (as a % of the Total Shareholding
of promoter and promoter group) |
8.82% |
8.98% |
8.82% |
|
|
- Percentage of Shares (as a % of the Total Share Capital
of the Company) |
4.85% |
4.85% |
4.85% |
|
|
|
|
|
|
|
|
b)
Non Encumbered |
|
|
|
|
|
- Number of Shares |
7240557 |
7091207 |
7240557 |
|
|
- Percentage of Shares (as a % of the Total Shareholding
of Promoter and Promoter Group) |
91.18% |
91.18% |
91.18% |
|
|
- Percentage of Shares (as a % of the Total Share Capital
of the Company) |
55.00% |
53.96% |
55.00% |
Notes:
1. The above results, duly reviewed by Audit Committee, were taken on record
by the Board of Directors of the company at its meeting held on 8th February, 2012.
The Statutory Auditors have conducted limited review of the financial results
for the quarter/period ended 31st December, 2011.
2. Based on the legal opinion sought by FAI with regard to Office Memorandum
No.23011/1/2010-MPR dated July 11, 2011 issued by the Department of Fertilizers
the company has recognized subsidy income as per the prevailing Nutrient Based
Subsidy Policy (NBS). The changes, if any shall be made upon final
determination of the matter. The company has not given impact of mopping up on
account of Raw Material inventory as at April 1, 2011 which is neither
ascertainable as on date nor withheld by Government of India.
3.
The Company is engaged in one segment only i.e.
Fertilizers.
4.
There were no investors complaints pending at the
beginning or at the end of the quarter.
WEBSITE DETAILS
PROFILE
Medieval agriculture to modern farming are the strides and
contribution to our 90 Million dedicated farmers community for the development of
Indian agriculture during the last 5 decades. Achieving self-sufficiency in
farming, food grain production is the major premise of Fertilizer Industry in
India. To ensure timely and proper availability of essential plant nutrients
for increasing the crop production "Liberty" took birth in 1976 and
carried out expansion from time to time to accelerate its capacity and to cope
up with the increasing demand.
Now the Group is having manufacturing capacity of 8,26,000
MTS. per annum of SSP Fertilizer, 1,65,000 MT per annum of NPK and 5000 MT of
Magnesium Sulphate, claiming to be one of the major SSP manufacturing company
in the country known as “LIBERTY PHOSPHATE LIMITED”. The Group company has 6
units situated at different parts of the country.
They are at Udaipur and Kota in Rajasthan, Baroda in
Gujarat, Pali in Maharashtra, Nimrani in Madhya Pradesh and Hospet in
Karnataka. The Group has the business of SSP manufacturing as well as
manufacturing of NPK in their different units. The Group as a whole caters to
about 18% of the SSP fertilizer demand in the country. The company is a Public
Limited Company and listed in the major Stock Exchanges of the country. The
Company can lay claim to be the catalyst in the transformation of Indian
Agriculture with high capacity and strong dealership network catering 13 States
in the country directly as well as through co-partners and pioneer fertilizer
companies like Chambal Fertilizers and Chemicals Limited, Gujarat Narmada
Valley Fertilizer Company Limited, Zuari Industries Limited. Its quality
fertilizer enjoys
the farmer’s unassailable confidence and provide cutting
edge.“Liberty” popularly known through its “Double Horse” brand Powder and Granulated fertilizers,
is truly the pride of Indian farmers, a name akin to progress, prosperity and
plenty, a name on the lips of Millions of Happy Farmers.
Quality Control center has been set up with highly qualified
and motivated team of scientists and engineers with all latest equipment and
instruments. Liberty’s quality control team work in close association with
various plants and other departments to study, analyze and optimize process
conditions to understand the future technology and needs of the company, to
develop new products, to improve upon the effluent treatment methodologies, for
better environment management and to convert waste or by-products into value
added materials.
The Company has a team of experts in the Quality Control,
having in depth knowledge on the system to ensure the best quality product to
reach their valuable customers. Needless to say, it has helped millions of
farmers to reap bumper harvest year after year on sustainable basis maintaining
the soil health.
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. 49.04 |
|
|
1 |
Rs. 77.77 |
|
Euro |
1 |
Rs. 65.89 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
53 |
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.