MIRA
INFORM REPORT
|
Report Date : |
31.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
JAYANT AGRO-ORGANICS LIMITED |
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Registered Office : |
38, Marol Co-operative Industrial Estate, Off |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
07.05.1992 |
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Com. Reg. No.: |
11 – 066691 |
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Capital
Investment / Paid-up Capital : |
Rs.75.000
Millions |
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CIN No.: [Company
Identification No.] |
L24100MH1992PLC066691 |
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|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMJ08573F |
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PAN No.: [Permanent
Account No.] |
AAACJ7581Q |
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Legal Form : |
A Public Limited Liability Company. The company’s shares are listed on the
Stock Exchanges. |
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Line of Business : |
Manufacturer and Exporter of Castor Oil and Castor Oil
Derivatives. |
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No. of Employees : |
500 [Approximately] |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (51) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 3740000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and a reputed company having good track.
Directors are reported to be an experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are reported to
be regular and as per commitments. The company can be considered good for normal 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) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Gaurav |
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Designation : |
Finance Department |
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Contact No.: |
91-22-40271300 |
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Date: |
15.11.2011 |
LOCATIONS
|
Registered Office/Corporate Headquarters : |
38, Marol Co-operative Industrial Estate, Off |
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Tel. No.: |
91-22-66970470 / 40271300 |
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Fax No.: |
91-22-66970474 / 40271399 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory 1: |
Plot No.601, 602, 624-627, and 603 Behind G.A.C.L., Post
Petrochemicals, District |
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Tel. No.: |
91-265-2230350 / 2232112 / 2231552 / 2230683 |
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E-Mail : |
91-265-2230958 |
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Factory 2 : |
Plot No. 667, |
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Tel. No.: |
91-2742-252658 |
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E-Mail : |
91-2742-257158 |
DIRECTORS
AS ON 31.03.2011
|
Name : |
Mr. Vithaldas G Udeshi |
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Designation : |
Chairman |
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Name : |
Mr. Hemant V Udeshi |
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Designation : |
Managing Director |
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Name : |
Mr. Subhash V Udeshi |
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Designation : |
Director |
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Name : |
Mr. Jayasinh V Mariwala |
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Designation : |
Director |
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Name : |
Mr. Vijay Kumar Bhandari |
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Designation : |
Director |
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Name : |
Mr. Mukesh C Khagram |
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Designation : |
Director |
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Name : |
Mr. Deepak V Bhimani |
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Designation : |
Director |
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Name : |
Mr. Abhay V Udeshi |
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Designation : |
Director |
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Name : |
Mr. Jayasinh V Mariwala |
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Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Dinesh Kapadia |
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Designation : |
Company Secretary |
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Name : |
Mr. Abhay V Udeshi |
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Designation : |
Executive Director |
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Name : |
Mr. Sudhir V. Udehsi |
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Designation : |
Director |
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Name : |
Mr. Vikram V. Udeshi |
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Designation : |
Chief Financial Officer |
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Name : |
Mr. Gaurav |
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Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.12.2011
|
Category of
Shareholder |
Total No. of
Shares |
Total
Shareholding as a % of total No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
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|
|
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|
767,246 |
5.11 |
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8,222,959 |
54.82 |
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8,990,205 |
59.93 |
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Total shareholding of Promoter and Promoter Group (A) |
8,990,205 |
59.93 |
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(B) Public Shareholding |
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|
7,200 |
0.05 |
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|
400 |
- |
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|
7,600 |
0.05 |
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968,905 |
6.46 |
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3,209,946 |
21.40 |
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1,195,024 |
7.97 |
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628,320 |
4.19 |
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28,320 |
0.19 |
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|
600,000 |
4.00 |
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|
6,002,195 |
40.01 |
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Total Public shareholding (B) |
6,009,795 |
40.07 |
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Total (A)+(B) |
15,000,000 |
100.00 |
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(C) Shares held by Custodians and against which Depository Receipts
have been issued |
- |
- |
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- |
- |
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- |
- |
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- |
- |
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Total (A)+(B)+(C) |
15,000,000 |
- |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Castor Oil and Castor Oil
Derivatives. |
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Products: |
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Exports : |
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Products : |
Castor Oil and Castor Oil Derivatives |
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Countries : |
·
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·
·
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Terms : |
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Selling : |
L/C / Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
|
Castor Oil and its derivatives including refined Castor Oil, Oxidized,
Dehydrated, Blown, Polymerized etc. |
MT |
50400 |
43000 |
|
Hydrogenated Castor Oil |
MT |
15600 |
18720 |
|
Fatty Acid and its Salt, Easters, Amides, Polyamides, Polyols, and its
allied products |
MT |
38340 |
27000 |
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Particulars |
Unit |
Actual
Production |
|
Castor Oils |
MT |
45505.509 |
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Derivatives |
MT |
46202.009 |
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By-Products |
MT |
99227.204 |
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Others |
MT |
7252.719 |
GENERAL INFORMATION
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Customers : |
OEM’s and Industries |
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No. of Employees : |
500 [Approximately] |
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Bankers : |
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Facilities : |
Note : 1. Long term loans
are secured against hypothecation of Wind Mill, Vehicles and personal
guarantee of Directors. Installments due within a year Rs. 22.250 millions 2. Short term
loans are secured by joint deed of hypothecation, on pari passu basis of raw
material, work-in- process, finished goods, spares and receivables and
personal guarantee of the Directors. Further, collaterally secured by
equitable mortgage of all present and future immovable properties comprising
inter alia machinery, equipments, plant and spares.
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
T P Ostwal and Associates Chartered Accountants |
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Subsidiaries : |
·
Ihsedu Agrochem Private Limited ·
Ihsedu
Speciality Chemicals Private Limited ·
Ihsedu
Coreagri Services Private Limited ·
Ihsedu Itoh
Green Chemicals Marketing Private Limited |
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|
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Associates : |
·
Mitsui and Company (Asia Pacific) Pte Limited, ·
Mitsui and
Company Limited, Japan |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
29,000,000 |
Equity Shares |
Rs.5/- each |
Rs. 145.000
Millions |
|
6,000,000 |
7% Redeemable Preference Shares |
Rs.5/- each |
Rs. 30.000 Millions |
|
Total |
Rs.
175.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
15,000,000 |
Equity Shares |
Rs.5/- each |
Rs.75.000
Millions |
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Of the above:
6,000,000
Equity Shares of Rs.5/- each fully paid up have been issued as bonus shares by
capitalization of General Reserves.
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 |
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|
|
|
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1] Share Capital |
75.000 |
75.000 |
75.000 |
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2] Share Application Money |
0.000 |
0.000 |
17.850 |
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3] Reserves & Surplus |
860.881 |
713.633 |
643.199 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
935.881 |
788.633 |
736.049 |
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LOAN FUNDS |
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1] Secured Loans |
1598.563 |
1378.536 |
228.030 |
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2] Unsecured Loans |
100.000 |
275.000 |
430.000 |
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TOTAL BORROWING |
1698.563 |
1653.536 |
658.030 |
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DEFERRED TAX LIABILITIES |
73.750 |
69.627 |
38.806 |
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TOTAL |
2708.194 |
2511.796 |
1432.885 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
369.376 |
354.222 |
317.481 |
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Capital work-in-progress |
15.364 |
5.299 |
1.279 |
|
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Advanced Against capital commitments |
8.076 |
11.808 |
0.000 |
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INVESTMENT |
258.203 |
257.304 |
209.678 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
939.978
|
927.295
|
431.646
|
|
|
Sundry Debtors |
731.819
|
429.818
|
267.422
|
|
|
Cash & Bank Balances |
62.497
|
102.712
|
135.298
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
894.902
|
946.428
|
474.850
|
|
Total
Current Assets |
2629.196
|
2406.253
|
1309.216
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
273.865
|
187.931
|
239.159 |
|
|
Other Current Liabilities |
228.481
|
159.628
|
39.359
|
|
|
Provisions |
69.675
|
175.531
|
126.251
|
|
Total
Current Liabilities |
572.021
|
523.090
|
404.769
|
|
|
Net Current Assets |
2057.175
|
1883.163
|
904.447
|
|
|
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|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2708.194 |
2511.796 |
1432.885 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
11456.932 |
8789.522 |
8510.608 |
|
|
|
Other Income |
23.842 |
5.814 |
19.071 |
|
|
|
TOTAL (A) |
11480.774 |
8795.336 |
8529.679 |
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Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption of Raw Materials |
7436.423 |
6667.861 |
6101.919 |
|
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|
Purchases of Finished Goods |
2983.893 |
961.892 |
871.894 |
|
|
|
Personnel Cost |
73.358 |
60.520 |
56.295 |
|
|
|
Manufacturing and Other Expenses |
990.117 |
918.035 |
914.058 |
|
|
|
Increase/ (Decrease) in Stock |
(481.744) |
(113.011) |
333.363 |
|
|
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TOTAL (B) |
11002.047 |
8495.297 |
8277.529 |
|
|
|
|
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PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
478.727 |
300.039 |
252.150 |
|
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|
|
|
|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
190.791 |
121.092 |
128.934 |
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|
|
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
287.936 |
178.947 |
123.216 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
26.855 |
23.830 |
22.487 |
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PROFIT BEFORE
TAX (E-F) (G) |
261.081 |
155.117 |
100.729 |
|
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|
|
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|
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Less |
TAX (H) |
83.680 |
76.676 |
44.249 |
|
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|
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PROFIT AFTER TAX
(G-H) (I) |
177.401 |
78.441 |
56.480 |
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
265.231 |
220.547 |
227.157 |
|
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|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Preference Dividend |
0.000 |
0.000 |
0.046 |
|
|
|
Proposed Dividend |
26.250 |
22.500 |
18.750 |
|
|
|
Dividend Distribution Tax |
3.903 |
3.357 |
8.294 |
|
|
|
Transfer to Capital Redemption Reserve |
0.000 |
0.000 |
30.000 |
|
|
|
Transfer to General Reserve |
17.800 |
7.900 |
6.000 |
|
|
BALANCE CARRIED
TO THE B/S |
394.679 |
265.231 |
220.547 |
|
|
|
|
|
|
|
|
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|
EARNINGS IN
FOREIGN CURRENCY |
8589.425 |
6919.253 |
6891.214 |
|
|
|
|
|
|
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IMPORTS |
|
|
|
|
|
|
|
Chemicals |
33.133 |
38.216 |
55.696 |
|
|
|
Stores & Spares |
0.192 |
0.000 |
0.000 |
|
|
|
Capital Goods |
17.002 |
1.529 |
1.314 |
|
|
TOTAL IMPORTS |
50.327 |
39.745 |
57.010 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
11.83 |
5.23 |
3.49 |
|
Expected Sales (2011-12) : Rs.13000.000 Millions
The above information has been parted by Mr. Gaurav [Finance Department]
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2011 |
30.09.2011 |
31.12.2011 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
4680.380 |
4537.340 |
3654.330 |
|
Total Expenditure |
4531.810 |
4330.420 |
3473.930 |
|
PBIDT (Excl OI) |
148.570 |
206.920 |
180.400 |
|
Operating Profit |
148.570 |
206.920 |
180.400 |
|
Interest |
59.490 |
82.240 |
74.590 |
|
PBDT |
89.080 |
124.680 |
105.820 |
|
Depreciation |
7.150 |
7.190 |
7.210 |
|
Profit Before Tax |
81.930 |
117.490 |
98.600 |
|
Tax |
24.17 |
35.530 |
32.440 |
|
Profit After Tax |
57.760 |
81.960 |
66.170 |
|
Net Profit |
57.760 |
81.960 |
66.170 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.54
|
0.89
|
0.66 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.27
|
1.76
|
1.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.70
|
5.61
|
6.19 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27
|
0.19
|
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.50
|
2.76
|
0.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.59
|
4.60
|
3.23 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by
Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
-- |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
No |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
No |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
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18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
No |
|
28) Incorporation details, if applicable |
-- |
|
29) Last accounts filed at ROC |
-- |
|
30) Major Shareholders, if available |
-- |
COMPANY HISTORY:
Subject is an India-based company oleo chemical company. The Company operates
in three segments: castor oil, derivatives and power generation. Its products
include hydrogenated castor oil, castor refined oil, castor refined oil and 12
hydroxy stearic acid/fatty acid. The Company’s products are used by cosmetics,
perfumeries, plastics and rubbers, lubrication, textile chemicals, paper,
paints, inks and adhesives, pharmaceuticals, food and electrical, and
telecommunication. During the fiscal year ended March 31, 2010 (fiscal 2010),
the Company produced 60,531.26 million tons of castor oil, 36,964.772 million
tons of derivatives and 98,111.681 million tons of by-products. During fiscal
2010, it had an installed capacity of 43,000 million tons of castor oil and its
derivatives, including refined castor oil, oxidized, dehydrated, blown and
polymerized. The Company’s plant is located in Vadodara,
BUSINESS PERFORMANCE:
The Company’s
sales turnover during the year was 11456.932 millions against the sales of
8789.522 millions during the previous year, an increase of 30.35 %. Profit
after tax has increased by 98.960 millions i.e. by 126.16% as compared to the previous
year.
BUSINESS
PROSPECTS:
The Company
continues to show satisfactory growth during the first quarter of the current
year. The company has been continuously expanding its production capacities and
investing in new products. The Directors are hopeful that the company will
continue to show stable growth. The Company’s subsidiary Ihsedu Speciality
Chemicals Private Limited has started trial production of Sebacic Acid a
complex value added product based on castor oil. Project has met with some
delays. Although the commercial production was delayed, they expect that
Sebacic Acid will be an important addition to the Company’s portfolio for long
term growth.
RESEARCH and
DEVELOPMENT:
Their In-house R
and D recognized by the Department of Scientific and Industrial Research
(DSIR), Government of India, is continuing its work of developing efficient
processes, applications and new products based on castor oil. The R and D has
been pursuing the principles of Green Chemistry so as to have development
without disturbing or in many cases, in fact improving the ecological balance.
Such green products can replace petrochemicals in various applications which
thus conserve the depleting fossil reserves. The products developed are not
only being exported but are also substituting imported products and thus adding
to the foreign exchange of their country. The R and D continues its work as the
Consortium Partner for the National Agricultural Innovation Project (NAIP) titled,
“A Value Chain on Castor and Its Industrial Products”.
SAFETY AND
ENVIRONMENT:
The Company has
declared the Safety Health and Environment Policy and continues its commitments
towards safety and environment. The Committees formed for the purpose of safety
and environment have continued to educate and motivate the employees on various
aspects on Safety and Environment through training programs and seminars. World
Environment day on June 5, 2010, National Safety Week from March 4, 2011 to
March 11, 2011, and Safety Day on March 12, 2011 were observed and various
programs and competitions were held. The Company is a member of Effluent
Channel Projects, for disposal of Effluent Water and also of Nandesari
Environment Control Ltd., for disposal of solid waste. The Company is
continuously monitoring its waste to ensure adherence to pollution control
norms.
MANAGEMENT
DISCUSSION AND ANALYSIS
INDUSTRY STRUCTURE
AND DEVELOPMENTS
OPPORTUNITIES
After over 3%
growth in the global economy on the back of USD 2 trillion stimulus package by
Governments across the world, the focus is going to shift in controlling
government debt, expenditure and deficit. Global growth may remain subdued till
the Governments, especially of the developed nations, are able to bring down
their debt to GDP ratio’s. Environment being a major concern, the search for
green products is likely to intensify in the future. Castor Oil being an
natural, organic, renewable and bio-degradable product is gaining importance as
a green product. Besides due to its unique chemical structure, it finds myriad
applications in virtually every industry be it Agriculture, Lubricants, Paints,
Inks, Surface Coatings, Pharmaceuticals, Food, Engineering Plastics, Cosmetics,
Perfumeries, Electricals, Rubber and so on. The company continues to endeavor
to tap these opportunities by focusing on Research and Development and
investing in new capacities, new technologies, new applications , and new
products. Castor Seeds continue to be a volatile raw material in terms of its
price. Being an agricultural product, it depends on the rainfall and weather
condition prevailing in the area of castor growing States in the country,
though it is a sturdy crop. To mitigate the effect of uncertain weather, the
Company has laid down parameters for inventory management. The Company has
proper mechanism in place to immediately respond to any unforeseen
eventualities.
OUTLOOK
During the year
the company has crossed the milestone of 10000 millions in sales. The demand
outlook for Company’s products remains positive. Emphasis on green eco-friendly
products is likely to lead to increase in innovation of new products and uses
in the castor oil industry. The company continues to invest in Research and
Development to tap on new growth opportunities. The company is also undertaking
a backward integration program in order to increase the availability of castor
seeds. Barring unforeseen circumstances the Directors expect satisfactory
growth.
UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER / NINE MONTHS ENDED 31.12.2011
Rs.
in Millions
|
PARTICULAR |
Quarter Ended
31.12.2011 |
Quarter Ended
30.09.2011 |
Nine Months
Ended 31.12.2011] |
|
|
[Unaudited] |
||
|
(a)
Net Sales / Income from operations |
3651.112 |
4534.488 |
12880.174 |
|
(b)
Other Operating Income |
3.218 |
2.836 |
6.112 |
|
Expenditure |
|
|
|
|
a)
(Increase) / Decrease in stock in trade and work in progress |
509.456 |
[146.806] |
341.300 |
|
b)
Consumption of raw materials |
2713.055 |
4198.883 |
11187.724 |
|
c)
Employees cost |
22.399 |
21.124 |
62.004 |
|
d)
Depreciation |
7.214 |
7.193 |
21.559 |
|
e)
Other expenditure |
229.017 |
257.200 |
759.360 |
|
Total |
3481.141 |
4337.594 |
12371.947 |
|
Profit
from operations before other income, interest and exceptional Items |
173.189 |
199.730 |
514.339 |
|
Other
income |
- |
- |
- |
|
Profit
before interest and exceptional Items |
173.189 |
199.730 |
514.339 |
|
Interest |
74.585 |
82.238 |
216.312 |
|
Profit after Interest but
before Exceptional Items |
98.604 |
117.492 |
298.027 |
|
Exceptional
Items |
- |
- |
- |
|
Profit (+)/Loss(-) from Ordinary
Activities before tax |
98.604 |
117.492 |
298.027 |
|
Tax
expense |
|
|
|
|
Provision
for taxation |
33.500 |
37.700 |
95.400 |
|
Provision
for deferred tax |
[1.064] |
[2.167] |
[3.260] |
|
Wealth
tax |
- |
- |
- |
|
Previous
year tax adjustment |
- |
- |
- |
|
Net Profit (+)/Loss(-) from
Ordinary Activities after tax |
66.168 |
81.959 |
205.887 |
|
Extraordinary item (net of tax
expenses) |
- |
- |
- |
|
Net
Profit (+) / Loss (-) for the year period |
66.168 |
81.959 |
205.887 |
|
Paid up
equity share capital (Face value of Rs.5/- per share) |
75.000 |
75.000 |
75.000 |
|
Reserves
excluding revaluation reserves as per balance sheet of previous accounting
year |
- |
|
|
|
Earning
per share (EPS) |
|
|
|
|
(a) Basic and diluted EPS
before Extraordinary items for the period, for the year
to date and for the previous year (not to be
annualised) |
4.41 |
5.46 |
13.73 |
|
(a) Basic and diluted EPS
after Extraordinary items for the period, for the year
to date and for the previous year (not to be
annualised) |
4.41 |
5.46 |
13.73 |
|
Public
shareholding |
|
|
|
|
Number of shares |
6009795 |
6009795 |
6009795 |
|
Percentage of shareholding |
40.07 |
40.07 |
40.07 |
|
|
|
|
|
|
Promoters
and Promoters group Shareholding- |
|
|
|
|
a)
Pledged /Encumbered |
|
|
|
|
Number
of shares |
Nil |
Nil |
Nil |
|
Percentage
of shares (as a % of total shareholding of the promoter and promoter group) |
Nil |
Nil |
Nil |
|
Percentage
of shares (as a % of total share capital of the company) |
Nil |
Nil |
Nil |
|
|
|
|
|
|
b)
Non Encumbered |
|
|
|
|
Number
of shares |
8990205 |
8990205 |
8990205 |
|
Percentage
of shares (as a % of total shareholding of the promoter and promoter group) |
100.00 |
100.00 |
100.00 |
|
Percentage
of shares (as a % of total share capital of the company) |
59.93 |
59.93 |
59.93 |
SEGMENT
WISE REVENUE, RESULTS AND CAPITAL EMPLOYED
Rs.
in Millions
|
PARTICULAR
|
3 months Ended
31.12.2011 |
3 months Ended
30.09.2011 |
Year to date
Ended 31.12.2011] |
|
|
[Unaudited] |
||
|
Segment
Revenue |
|
|
|
|
Castor Oil Derivatives |
1582.511 |
1872.144 |
5259.907 |
|
Castor Oil |
2053.763 |
2637.182 |
7573.702 |
|
Power Generation |
3.203 |
3.899 |
13.667 |
|
Unallocated |
11.635 |
21.263 |
32.898 |
|
Total
|
3651.112 |
4534.488 |
12880.174 |
|
Less: Inter Segment Revenue |
- |
- |
- |
|
Net Sales / Income From Operations |
3651.112 |
4534.488 |
12880.174 |
|
|
|
|
|
|
Segment
Results (Profit before tax and interest from each segment) |
|
|
|
|
Castor Oil Derivatives |
128.233 |
113.088 |
365.302 |
|
Castor Oil |
42.194 |
78.054 |
132.975 |
|
Power Generation |
0.772 |
2.974 |
8.458 |
|
Unallocated |
1.990 |
5.614 |
7.604 |
|
Total
|
173.189 |
199.730 |
514.339 |
|
Less: |
|
|
|
|
Interest |
74.585 |
82.238 |
216.312 |
|
Other Un-allocable Expenditure net off Un-allocable
Income |
- |
- |
- |
|
Total
Profit Before Tax |
98.604 |
117.492 |
298.027 |
|
|
|
|
|
|
Capital
Employed |
|
|
|
|
Segment
Assets – Segment Liabilities |
|
|
|
|
Castor Oil Derivatives |
245.992 |
478.954 |
245.992 |
|
Castor Oil |
188.861 |
533.732 |
188.861 |
|
Power Generation |
70.291 |
70.692 |
70.291 |
|
Unallocated |
636.623 |
[7.779] |
636.623 |
|
Total
|
1141.767 |
1075.599 |
1141.767 |
NOTE:
1.
The auditors of the company have carried out the Limited
Review of the above unaudited financial results.
2.
The above results, after reviewed by the audit
committee, were approved by the board and taken on record, in the meeting held
on 20.01.2012
3.
During the quarter, the company has made a further
investment in the capital of Ihsedu Itoh Green Chemicals Marketing Private
Limited.
4.
Subsidiary company Ihsedu Specialty Chemicals
Private Limited has commenced commercial production during the quarter,
accordingly capitalization has been done and hsedu Itoh Green Chemicals
Marketing Private Limited is yet to commence its business operations.
5.
The consolidated financial results, have been
prepared in accordance with accounting standard (AS) 21 on consolidated
financial statements issued by the institute of chartered accountants of
6.
The above results have been prepared in
accordance with the recognition and measurement principles laid down in
accounting standard 25[AS 25 –interim Final Reporting].
7.
No. of complaints during the quarter ended
31.12.2011: Opening Nil, Received Nil, Disposed Nil, Pending Nil.
8.
Figures have been regrouped wherever necessary.
FIXED
ASSETS:
- Buildings
- Plant and
Machinery
- Computers
- Furniture and
Fixtures
- Vehicles
WEBSITE
DETAILS:
Company
Profile:
Since ages,
Castor oil’s chemical structure is of great interest because
of the wide assortment of reactions it offers to the oleo-chemical industry and
the unique chemicals that can be derived from it. These derivatives are on par
with the petrochemical products for use in several industrial applications.
Infact, they are considerably superior since they are from renewable sources,
bio-degradable and eco-friendly.
The promoters of subject realised the potentialities of
Castor Oil more than 5 decades agro. Gifted with rare vision and foresight they
explored the immense possibilities in Castor by laying tremendous emphasis on R
and D, which has resulted in subject offering the largest range of Castor-based
products in the world.
Today, subject is a public listed company, traded on Bombay
Stock Exchange ltd (BSE) and the National Stock Exchange of India ltd (NSE).
The Castor based industry in
Subject is also ISO 9001:2008 certified for its quality
management systems.
PRESS RELEASE
JAYANT
AGRO-ORGANICS LIMITED ENTERS INTO SHARE PURCHASE AGREEMENT
August
08, 2011
Jayant Agro-Organics Limited announced that the Company has entered into a
share purchase agreement with Mitsu and Company Limited,
JAYANT
AGRO-ORGANICS LIMITED BOARD RECOMMENDS DIVIDEND
Jul 27, 2011
Jayant Agro-Organics Limited announced that the Board of Directors of the
Company at its meeting held on July 27, 2011, have recommended for declaration
at the forthcoming AGM dividend on Equity Share of INR5 each @ 35 i.e. INR1.75
per Share.
JAYANT
AGRO-ORGANICS LIMITED DECLARES DIVIDEND; ANNOUNCES APPOINTMENT OF STATUTORY
AUDITORS
Sep 20, 2010
Jayant Agro-Organics Limited announced that the Shareholders at the Annual
General Meeting (AGM) of the Company held on September 18, 2010, inter alia,
have approved the declaration of dividend at INR1.50 per share on the face
value INR5 each. The Shareholders also approved the appointment of M/s. T. P.
Ostwal and Associates, Chartered Accountants as Statutory Auditors and fixation
of their remuneration.
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.49.50 |
|
|
1 |
Rs.77.73 |
|
Euro |
1 |
Rs.65.18 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
51 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.