1. Summary Information
|
|
|
Country |
|
|
Company Name |
AMD INDUSTRIES
LIMITED |
Principal Name 1 |
Mr. H.S. Gupta |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Prabhat Krishna |
|
|
|
Registration # |
55-17141 |
|
Street Address |
18, Pusa Road, 1st Floor, Karol Bagh, New Delhi-110005 |
||
|
Established Date |
17.12.1983 |
SIC Code |
-- |
|
Telephone# |
91-11-46830202 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-11-28753591 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Crown Corks |
|
|
# of employees |
350
(Approximately) |
Product Name 2 |
Pet Performs |
|
Paid up capital |
Rs.
191,667,000/- |
Product Name 3 |
CSD Plastic Closures |
|
Shareholders |
Shareholding
of Promoter and Promoter Group 60.25%, Public Shareholding 39.75% |
Banking |
State Bank of |
|
Public Limited Corp. |
Yes |
Business Period |
29 Years |
|
IPO |
Yes |
International Ins. |
- |
|
Public |
Yes |
Rating |
Ba (44) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiary |
-- |
AMD Estates and Developers Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1202,537,000 |
Current Liabilities |
373,285,000 |
|
Inventories |
486,606,000 |
Long-term Liabilities |
846,457,000 |
|
Fixed Assets |
918,614,000 |
Other Liabilities |
327,472,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
1,547,214,000 |
|
Invest& other Assets |
55,524,000 |
Retained Earnings |
924,400,000 |
|
|
|
Net Worth |
1,116,067,000 |
|
Total Assets |
2,663,281,000 |
Total Liab. &
Equity |
2,663,281,000 |
|
Total Assets (Previous Year) |
2,357,966,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
1,232,442,000 |
Net Profit |
57,732,000 |
|
Sales(Previous yr) |
1,017,314,000 |
Net Profit(Prev.yr) |
65,439,000 |
MIRA
INFORM REPORT
|
Report Date : |
13.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
AMD INDUSTRIES LIMITED (w.e.f. December
2007) |
|
|
|
|
Formerly Known
As : |
AMD METPLAST PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
18, Pusa Road, 1st Floor, Karol Bagh, New Delhi-110005, Delhi |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
17.12.1983 |
|
|
|
|
Com. Reg. No.: |
55-17141 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.191.667 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L28122DL1983PLC017141 |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Share are Listed on
the Stock Exchange. |
|
|
|
|
Line of Business
: |
Manufacturing and Packaging Solutions such as cocks, Plastic Closures,
crown caps etc. |
|
|
|
|
No. of Employees
: |
350 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4400000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade relations
are reported as fair. Payments are reported to be usually correct. 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) |
|
|
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/ Head Office : |
18, |
|
Tel. No.: |
91-11-46830202 |
|
Fax No.: |
91-11-28753591 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
C-4 and C-5, |
|
Tel No.: |
91-11-28758645/ 28750649 |
|
|
|
|
Factory 2: |
SP-32, RIICO Industrial Area, Neemrana, Distt: Alwar, Rajasthan, India |
|
|
|
|
Factory 3 : |
C-10, Site 3, |
|
|
|
|
Regional Offices: |
|
|
|
802, “Rajman” 7th Cross, 4th
Block, V.R. Pura, Bellayout,
Banalore-560097, |
|
E Mail : |
|
|
|
|
|
|
231, Sreepuram Colony, Malakpeto,
Hyderabad-500036, |
|
E Mail: |
|
|
|
|
|
Mumbai Office: |
Sri Krishna Society, Building No. 2, Flat No. 4, Ground Floor, Near Amber
Hotel, Shahad Railway Station, Kalyan
West, Mumbai, Maharashtra, India |
|
E Mail: |
DIRECTORS
As on 31.03.2011
|
Name : |
Mr. H.S. Gupta |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Ashok Gupta |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. Adit Gupta |
|
Designation : |
Whole time Director |
|
|
|
|
Name : |
Mr. Mahipal Ahluwalia |
|
Designation : |
Independent Director |
|
|
|
|
Name : |
Mr. Seshadri Ratnam
|
|
Designation : |
Independent Director |
|
|
|
|
Name : |
Mr. Prabhat Krishna |
|
Designation : |
Independence Director |
KEY EXECUTIVES
|
Name : |
Mr. Joylin Jain |
|
Designation : |
Secretary and Compliance Officer |
|
Date of Appointment : |
14.02.2011 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2012
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
|
|
|
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
11,547,571 |
60.25 |
|
|
11,547,571 |
60.25 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
11,547,571 |
60.25 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
1,698,900 |
8.86 |
|
|
|
|
|
|
4,391,235 |
22.91 |
|
|
1,408,876 |
7.35 |
|
|
120,167 |
0.63 |
|
|
115,667 |
0.60 |
|
|
3,957 |
0.02 |
|
|
40 |
- |
|
Trusts |
503 |
- |
|
|
7,619,178 |
39.75 |
|
Total Public shareholding (B) |
7,169,178 |
39.75 |
|
Total (A)+(B) |
19,166,749 |
100 |
|
(C) Shares held by
Custodians and against which Depository Receipts have been issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
|
Sub Total |
- |
- |
|
Total
(A)+(B)+(C) |
19,166,749 |
- |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to 
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Packaging Solutions such as cocks, Plastic Closures,
crown caps etc. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (As On 31.03.2011)
|
Particulars |
Unit |
Actual
Production |
|
Crowns |
Cases |
192375.28 |
|
CSD Closures |
Nos. |
608128906 |
|
Pet Pre Form |
Nos. |
104673493 |
|
Resin Consumed in above production Job Work undertaken for Pet Perform
|
MT |
3421.163 |
|
Resin Consumed |
MT |
7787.816 |
GENERAL INFORMATION
|
Customers : |
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
350 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
State Bank of ·
Punjab National Bank ·
Union Bank of ·
Kotak Mahindra Bank |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs. in Millions)
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Statutory Auditors : |
|
|
Name : |
Suresh and Associates Chartered Accountants |
|
Address : |
3A, Big Jo’s Tower, |
|
|
|
|
Internal
Auditors: |
|
|
Name : |
B.L. Khandelwal and Company Chartered Accountant |
|
Address : |
1, Doctor’s Lane, Gole Market, New
Delhi-110001, |
|
|
|
|
Secretarial Auditors: |
|
|
Name : |
AGG and Associates Company Secretaries |
|
Address : |
21/16, 2nd Floor, West Patel Nagar,
New Delhi – 110008, India |
|
|
|
|
Legal Counsels: |
|
|
Name : |
Mr. Dinesh Kumar Gupta Advocate |
|
Address : |
C-58, Vivek Vihar,
Phase – I, New Delhi – 110095, India |
|
|
|
|
Subsidiaries : |
·
AMD Estates and Developers Private Limited ·
Prime Techno Build Private Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000000 |
Equity Shares |
Rs. 10/- each |
Rs.250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
19166749 |
Equity Shares |
Rs. 10/- each |
Rs.191.667
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 |
191.667 |
191.667 |
191.668 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
924.400 |
889.092 |
846.077 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1116.067 |
1080.759 |
1037.745 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
791.297 |
682.239 |
450.384 |
|
|
2] Unsecured Loans |
55.160 |
25.657 |
24.763 |
|
|
TOTAL BORROWING |
846.457 |
707.896 |
475.147 |
|
|
DEFERRED TAX LIABILITIES |
82.309 |
80.339 |
64.194 |
|
|
|
|
|
|
|
|
TOTAL |
2044.833 |
1868.994 |
1577.086 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
918.614 |
920.632 |
666.311 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
55.524 |
55.531 |
56.124 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
486.606
|
306.133
|
215.688
|
|
|
Sundry Debtors |
259.885
|
203.777
|
206.495
|
|
|
Cash & Bank Balances |
72.052
|
59.058
|
20.419
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
870.600
|
812.640
|
658.031
|
|
Total
Current Assets |
1689.143
|
1381.608 |
1100.633 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
300.918
|
266.301
|
165.043 |
|
|
Other Current Liabilities |
72.367
|
61.148
|
25.086
|
|
|
Provisions |
245.163
|
161.523
|
57.158
|
|
Total
Current Liabilities |
618.448
|
488.972 |
247.287 |
|
|
Net Current Assets |
1070.695
|
892.636
|
853.346
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.195 |
1.305 |
|
|
|
|
|
|
|
|
TOTAL |
2044.833 |
1868.994 |
1577.086 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1232.442 |
1017.314 |
803.068 |
|
|
|
Job Work |
129.505 |
94.872 |
92.240 |
|
|
|
Other Income |
55.856 |
56.921 |
38.761 |
|
|
|
TOTAL (A) |
1417.803 |
1169.107 |
934.069 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
928.950 |
698.196 |
526.249 |
|
|
|
Cost of Goods Sold – Trading Goods and Real Estate |
0.078 |
0.000 |
15.052 |
|
|
|
Manufacturing Expenses |
150.808 |
110.483 |
93.922 |
|
|
|
Office and Administrative Expenses |
90.732 |
74.338 |
57.790 |
|
|
|
Selling and Distribution Expenses |
64.277 |
52.865 |
43.976 |
|
|
|
Miscellaneous expenses written off |
0.286 |
1.162 |
0.266 |
|
|
|
Increase/(Decrease) in Finished Goods |
(83.483) |
(13.099) |
(0.432) |
|
|
|
TOTAL (B) |
1151.648 |
923.945 |
736.823 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
266.155 |
245.162 |
197.246 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
116.377 |
82.190 |
79.686 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
149.778 |
162.972 |
117.560 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
72.008 |
54.959 |
47.873 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
77.770 |
108.013 |
69.687 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
20.038 |
42.575 |
35.752 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
57.732 |
65.439 |
33.935 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
2.000 |
2.500 |
5.000 |
|
|
|
Dividend |
19.167 |
19.167 |
19.167 |
|
|
|
Tax on Dividend |
3.257 |
3.257 |
3.257 |
|
|
BALANCE CARRIED
TO THE B/S |
33.308 |
40.515 |
6.511 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
184.950 |
109.967 |
52.199 |
|
|
TOTAL EARNINGS |
184.950 |
109.967 |
52.199 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
370.454 |
289.744 |
300.636 |
|
|
|
Component and Spare Parts |
8.737 |
4.200 |
3.838 |
|
|
|
Capital Goods |
39.620 |
181.590 |
2.532 |
|
|
|
Purchase of Trading Goods |
0.000 |
11.922 |
0.000 |
|
|
TOTAL IMPORTS |
418.811 |
487.456 |
307.006 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.01 |
3.41 |
1.77 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2011 |
30.09.2011 |
31.12.2011 |
31.03.2012 |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
4th
Quarter |
|
Net Sales |
624.550 |
336.310 |
336.850 |
505.020 |
|
Total Expenditure |
497.490 |
298.320 |
291.350 |
440.210 |
|
PBIDT (Excl OI) |
127.060 |
37.990 |
45.500 |
64.810 |
|
Other Income |
34.990 |
(16.150) |
9.320 |
1.950 |
|
Operating Profit |
162.050 |
21.840 |
54.820 |
66.760 |
|
Interest |
25.060 |
23.400 |
39.690 |
36.900 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
(0.480) |
|
PBDT |
136.990 |
(1.560) |
15.130 |
29.390 |
|
Depreciation |
22.100 |
17.190 |
15.010 |
21.960 |
|
Profit Before Tax |
114.890 |
(18.750) |
0.120 |
7.430 |
|
Tax |
8.750 |
0.000 |
11.880 |
18.040 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
106.140 |
(18.750) |
(11.760) |
(10.610) |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
106.140 |
(18.750) |
(11.760) |
(10.610) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.07
|
5.60
|
3.63
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.31
|
10.62
|
8.68
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.60
|
4.69
|
3.94
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.10
|
0.07
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.55
|
1.18
|
0.76
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.73
|
2.83
|
4.45
|
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 |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
Yes |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
No |
OPERATIONS REVIEW
Packaging
Business:
During the year the Company registered a total turnover and other income of Rs.1417.803 Millions as compared to previous year's turnover and other income of Rs.1169.107 Millions an increase of 21.27%. The Company registered a Profit before Interest, Depredation and Taxation of Rs. 266.155 Millions as compared to Rs 245.263 Millions recording a growth of 8.52% whereas Net Profit at Rs. 57.732 Millions as compared to Rs. 65.439 Millions the previous year, which shows decrease of 11.78%. The top line growth was possible due to the business growth in the beverage industry as a whole, however, stiff competitions and financials costs are factors behind the decrease in the profit margins. The growth in the beverage industry is expected to maintain this year with contributory benefits accruing to the packaging business of the Company like previous year.
Towards its continuous expansion plan, the Company has made its 5th PET Preform line at its works at Neemrana. Rajasthan operational in the midst of last quartered the Financial Year 2010-11.
Textile Business:
The market scenario for the textile industry in the country as a whole remained continuously discouraging. The Company remained on the same policy of putting on hold the Textile project.
Real Estate Business:
The real estate market of the country has started picking up. Company's subsidiary AMD Estates and Developers Private Limited has entered into a collaboration agreement with VSR lnfratech Private Limited, having a track record of developing commercial complex, for development of a commercial complex on commercial land situated at Gurgaon, Haryana in which Company also holds interest. The AMD Estates and Developers Private Limited. has received LOI from the Government of Haryana for the said construction.
MANAGEMENT DISCUSSION
AND ANALYSIS
The Company has put in efforts to strengthen its place in terms of Country’s share for providing packaging range to the soft drinks and other beverages industry by expanding its capacities at Neemrana. Rajasthan by installing a PET Preform Line and a Closure Line. The 5th PET preform line at its works at Neemrana has started commercial production during the financial year 2010-11.
The Company continued catering to the packaging needs of Beverages Industry of the country by way of supplying packaging for carbonated soft drinks (CSD). Mineral water, beer etc. Major chunk of Company's supply remained to beverages industry which is growing at about 20% per annum and alcoholic beverages industry mainly beer which is growing at a rate of about 15% per annum. The Company is looking to new market segments such as fruit juices, milk products, edible oil etc. and other cosmetics items which is slowly moving to
packaging items and the Company is capable of manufacturing of those packaging. The Company therefore, expects development of new market segments in the years to come and making continuous efforts in that direction.
Due to adverse market scenario of Textile industry in India, the project undertaken by the Company for setting up of integrated Textile Unit at Distt. Haridwar. Uttarakhand has continued to be kept on hold for the time being. Since the real estate market in India has been witnessing growing trend for some time, the Company's subsidiary AMD Estates & Developers Private Limited has entered into a collaboration agreement with VSR lnfratech Private Limited for the development of commercial land of the Company situated at Gurgaon, Haryana in which Company holds interest
INDUSTRY SECTORS
PACKAGING
The packaging industry supplying packing solutions to beverages industry are mainly divided into two formats viz. PET Bottles and Glass Bottles. P$T Bottles are also divided into two segments such as Plastic Closures and PET
Preforms. Plastic Closures are mainly used in CSD PET Bottles for beverages, mineral water and juices. The requirements of dosures with respect to design and quality depend upon the need of the end-user. PET Bottles required by the merages industry are being manufactured and supplied by the Packaging industry in Preform shapes and being blown-up at the time of filling beverages. Various other end-users have also started using plastic bottles as packaging medium. The usage of PET Bottles shows an increasing trend in products like edible oil, personal care products, pharmaceuticals and confectioneries. The usage of PET Bottles in Alcoholic Beverages industries also on the rise.
Glass bottles used as a packaging item requires crown caps as closure. The Company manufactures Crown Caps which are mainly used as metallic closures for various edible items packed in glass bottles e.g. Carbonated Soft Drinks, Beer, Juices, Sauces. Ready-to-drink Milk products etc.
REAL ESTATE
The Real Estate market is mainly divided into two zone one is the residential and the other is commercial. The company possesses interest in Commercial land.
OUTLOOK
PACKAGING
The Overall Beverage Packaging industry is growing at over 20% per annum. The continued trend of shifting customer base from glass bottles to PET Bottles is being seen in a positive note.
Segment WiselProduct Wise Review
CROWNS CAPS
The
use of glass bottle has been increasing by 10-Iloh but the use of Returnable
Glass Bottle (RCB) had been seen in reducing trends. Due to which crown market
has been recording a sharp negative growth as a packaging item. In order to
offset this, the Company is making vigorous efforts to explore the export
market. This has recorded in the export sales increase from Rs. 110.000 millions to Rs.
185.000 millions. Efforts are being continued to increase the share of exports
further. However, AMD remained one of the dominant players in the crown caps
market during the year.
PLASTIC
CLOSURES
The
plastic closure market has continued getting its momentum due to increased
usage of PET Bottles. The organized market is still dominated by the CSD but it
is expected that other usage will also form significant share of the overall
market.
The production at Neemrana, Rajasthan plant has increased only by 32.50 % during the financial years which is not as per expectation. This was because of late installation of plant-in 09-10. However coming year management expects to achieve the production level upto installed capacity thereat. The demand of plastic closures will increase in segments where PET Bottles are gaining foothold as packaging media like water, juices, edible oil etc.
PET PREFORMS
With the expansion of putting up of one line of Preform the Company's market share in PET preform market has also increased. The packaging Industry in PET segment has been growing by over 15-20%.
CONTINGENT
LIABILITIES NOT PROVIDED FOR
i. Bills discounted Rs.NIL.
ii. Bank Guarantees issued Rs. 14.465Millions (Previous Year of Rs. 11.042 Millions)
iii. The company has given its corporate guarantee to the lender for loan of Rs.230.000 Millions financed to AMD Estates and Developers Private Limited a subsidiary Company.
iv. Sales Tax demands under Local and Central Acts raised by the UP Trade Tax Authorities for Rs. 0.650 Million and Rs. 3.119 Millions respectively for the years 1999-2000 to 2006-07 are pending for final decision as company has filed appeals before Hon'ble Supreme Court. Company has made provision for these liabilities by charge of Rs.410.00 Millions to Profit and Loss Account during the Financial Year 2009-2010.
v. The Sales Tax Authorities has raised e demand for the financial year 2005-06 of Rs 0.447 Million respectively for non-submission of export certificate and the assesses has filed an appeal with the Appellate Authorities for the same. If case is awarded against the Company and liability crystallizes, profit of the Company shall stand reduced by the said amount.
vi. The Entry Tax demand for the financial year 2001-2002 Rs.1.907 Millions has been raised by the UP Trade Tax Authorities. The company has filed appeal before Joint Commissioner. If case is awarded against the Company and liability Crystallizes, profit of the company shall stand reduced by the said amount.
vii. The Entry Tax demand for the financial year 2002-2003 Rs. 1.140 Millions has been raised by the UP Trade Tax Authorities. The company has filed writ before the Allahabad High Court for the same. If case is awarded against the Company and liability crystallizes. Profit of the Company shall stand reduced by the said amount.
viii. The Entry Tax @ 5% has been levied by U P State Govt. on HSD and LDO for the Financial year 2004-05 and 2005-06 for Rs. Millions 1.858 Millions. The company has filed writ before the Allahabad High Court. Company has made provision for these liabilities by charge of Rs.19.00 Lac to Profit and Loss Account during the financial year 2008 - 2010.
ix. Workmen have made a Claim in the Financial Year 2002-2003 which is disputed by the Company in Labour Court. The estimated liability as assessed by the company is expected to be Rs. 0.200 Million. lf case is awarded against the Company and liability crystallizes; profit of the Company shall stand reduced by the said amount.
x. The Sales Tax Authorities have made order U/s 21 of the UPTT and has raised a demand for the financial year 2003-2004 of Rs.1.031 Millions for sale U/s 4A and non submission of balance C form and the assesses has filed an appeal with the Additional Commissioner (Appeal) for the same. If case is awarded against the Company and liability crystallizes, profit of the Company shall stand reduced by the said amount.
xi. The Sales Tax Authorities has raised a demand for the financial year 2007-2008 of Rs.0.202 Million against enhancement of turnover and non-submission of 38 form and the assesses has filed an appeal with the Additional Commissioner (Appeal) for the same. If case is awarded against the Company and liability crystallizes, profit of the Company shall stand reduced by the said amount.
xii. The Sales Tax Authorities passed the order U/s 21 of the UPlT and has raised a demand for the financial year 2002-2003 of Rs. 13.499 Millions for sale U/s 4A and non submission of C f man d the assesses has filed an appeal with the Additional Commissioner (Appeal) for the same. Appellate Authority has remanded the case back to Assessing Authority. No provision has been made for any liability arising on assessment.
xiii. The Income Tax Authorities has disallowed expenses of Rs. 4.120 Millions for the Financial Year 2004-05 and raised demand of Rs. 0.114 Million after adjusting the income Tax already paid by the company. The company has filed an appeal before Delhi High Court. If case is awarded against the Company the liability of Rs. 0.114 Millions crystallizes. Profit of the Company shall stand reduced by the said amount.
xiv. The Excise Authorities had raised a demand for the financial year 2003-04 of Rs 0.931 Million and interest thereon Rs 0.110 Million, Assesses had filed an appeal with the Tribunal CESTAT, Delhi for the same. The case has been remanded back by the Tribunal to the Dy. Commissioner, Central Excise, Ghaziabad. No provision has been made for any liability arising on assessment.
xv. The company has been granted exemption from the payment of Central Sales Tax for its Neemrana Division subject to investment of Rs.300.000 Millions in Plant and Machinery in the above project by 31.1 2.2007. The date has been extended from 31.12.2007 to 31.03.2010 vide notification No. F.4 (6) FDITax-Div/03-Pt-103 dated 28.12.2010. The company has already made the investment in Plant and Machinery at Neemrana Division for more than Rs.300.000 Millions before 31.03.2010.
xvi. The Sales Tax Authorities has raised a demand for the financial year 2006-2007 of Rs. 10.255 Millions and the assesses has filed an appeal with the Deputy Commissioner (Appeal), Alwar, If case is awarded against the Company and liability crystallizes, profit of the Company shell stand reduced by the said amount.
STATEMENT OF AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31st
MARCH 2012
|
|
|
|
|
|
Rs in Millions |
|
|
|
Particulars |
Quarter Ended |
Quarter Ended |
Year Ended |
||
|
|
31.03.2012 |
31.12.2011 |
31.03.2012 |
|||
|
|
(Audited) |
(Unaudited) |
(Audited) |
|||
|
1 |
(a) Net Sales/Income from Operations |
486.608 |
330.901 |
1764.314 |
||
|
|
(b)Other Operating Income |
18.412 |
14.145 |
55.763 |
||
|
|
Total income from operations (net) |
505.020 |
345.046 |
1820.077 |
||
|
2 |
Expenditure |
|
|
|
||
|
|
(a) |
Cost of materials consumed |
300.068 |
225.993 |
1020.337 |
|
|
|
(b) |
Purchases of stock-in-trade |
0.000 |
0.089 |
2.046 |
|
|
|
(c) |
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
3.471 |
(25.999) |
57.401 |
|
|
|
(d) |
Employee benefits expense |
46.353 |
23.355 |
114.407 |
|
|
|
(e) |
Depreciation and amortisation expenses |
21.955 |
15.012 |
76.253 |
|
|
|
(f ) |
Other Expenditure |
90.313 |
86.519 |
369.648 |
|
|
|
|
Total Expenses |
462.160 |
324.969 |
1640.092 |
|
|
3 |
|
Profit from
operation before other income, interest and other exceptional items(1-2) |
42.860 |
20.077 |
179.985 |
|
|
4 |
|
Other Income |
1.946 |
1.667 |
6.907 |
|
|
5 |
|
profit before
interest and exceptional items(3+4) |
44.806 |
21.744 |
186.892 |
|
|
6 |
Interest |
36.903 |
21.627 |
107.346 |
||
|
7 |
Profit after interest but before exceptional items(5-6) |
7.903 |
0.117 |
79.546 |
||
|
8 |
Exceptional Items |
(0.478) |
0.000 |
24.143 |
||
|
9 |
Profit(+)/Loss(-) from Ordinary Activities before tax (7-8) |
7.425 |
0.117 |
103.689 |
||
|
10 |
Tax Expenses |
18.032 |
11.875 |
38.657 |
||
|
11 |
Net Profit(+)/Loss(-) from Ordinary Activities after tax( 9-10) |
(10.607) |
(11.758) |
65.032 |
||
|
12 |
Extra Ordinary Items |
0.000 |
0.000 |
0.000 |
||
|
13 |
Net Profit(+)/Loss(-) for the period (1112) |
(10.607) |
(11.758) |
65.032 |
||
|
14 |
Share of profit/(loss) of associates |
- |
- |
- |
||
|
15 |
Minority Interest |
- |
- |
- |
||
|
16 |
Net
Profit/(Loss) after taxes, minority interest and share of profit/(loss) of
associates(13+14- 15) |
(10.607) |
(11.758) |
65.032 |
||
|
17 |
Paid-up equity share capital (Face value of Rs.10/- each) |
191667490 |
191667490 |
191667490 |
||
|
18 |
Reserves excluding revaluation reserves |
924.400 |
924.400 |
924.400 |
||
|
19 |
Earning Per Share |
|
|
|
||
|
(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) |
(0.55) |
(0.61) |
3.01 |
||
|
(b) |
Basic and diluted EPS after Extraordinary
items for the period, for the year to date and for the previous year(not to
be annualised) |
(0.55) |
(0.61) |
3.01 |
||
|
20 |
Public Shareholding |
|
|
|
||
|
|
Number of Shares |
7619178 |
7619178 |
7619178 |
||
|
|
Percentage of Shareholding |
3975%. |
3975%. |
3975%. |
||
|
21 |
Promoters and Promoter group |
|
|
|
||
|
|
a) Pledged/Encumbered |
|
|
|
||
|
|
Number of shares |
- |
- |
- |
||
|
|
Percentage of Shares (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 |
11547571 |
11547571 |
11547571 |
||
|
|
Percentage of Shares (as a % of the total shareholding of promoter and
promoter group) |
100.00% |
100.00% |
100.00% |
||
|
|
Percentage of Shares (as a % of the total share capital of the
Company) |
60.25% |
60.25% |
60.25% |
||
AUDITED SEGMENT –
WISE REVENUE RESULT AND CAPITAL EMPLOYED THE YEAR ENDED 31ST MARCH
2012
|
|
|
|
|
|
Rs in Millions |
|
|
Particulars |
Quarter Ended |
Quarter Ended |
Year Ended |
|
|
|
31.03.2012 |
31.12.2011 |
31.03.2012 |
||
|
|
(Audited) |
(Unaudited) |
(Audited) |
||
|
1 |
Segment Revenue |
|
|
|
|
|
|
a) Segment - A (Packaging Division) |
505.020 |
345.046 |
1820.077 |
|
|
|
b) Segment - B (Textile Division) |
- |
- |
- |
|
|
|
Segment - C (Real Estate Division) |
- |
- |
- |
|
|
|
Unallocated |
- |
- |
- |
|
|
|
Total |
505.020 |
345.046 |
1820.077 |
|
|
2 |
Segment Results (Profit(+)/(Loss) (-) before tax and interest from each segment) |
|
|
|
|
|
|
(a) Segment - A (Packaging Division) |
26.902 |
10.569 |
175.292 |
|
|
|
(b) Segment - C (Textile Division) |
- |
- |
- |
|
|
|
(c) Segment - D (Real Estate Division) |
(0.606) |
(0.700) |
(2.914) |
|
|
|
(d) Unallocated |
- |
- |
- |
|
|
|
Total |
26.296 |
9.869 |
172.378 |
|
|
|
Less : (i) Interest |
36.903 |
21.627 |
107.346 |
|
|
|
Total Profit Before Tax |
(10.607) |
(11.758) |
65.032 |
|
|
3 |
(Segment assets - Segement Liabilities |
|
|
|
|
|
|
(a) Segment - A (Packaging Division) |
545.239 |
678.765 |
545.239 |
|
|
|
(b) Segment - C (Textile Division) |
173.913 |
173.913 |
173.913 |
|
|
|
(c) Segment - D (Real Estate Division) |
439.671 |
339.028 |
439.671 |
|
|
|
(d) Unallocated |
|
|
|
|
|
|
Total |
1158.823 |
1191.706 |
1158.823 |
|
Note:
1. The Subsidiaries Companies consolidated in the Consolidated Financial
Results are as follows:
|
a) |
Subsidiary Companies |
Ownership (%) |
|
1 |
AMD Estates and Developers (Private) Limited |
52% |
|
2 |
Prime Techno Build (Private) Limited (100% subsidiary of AMD Estates
and Developers (Private) Limited) |
52% |
Notes:
1- The above audited
financial results have been reviewed by the Audit Committee and approved by the
Board of Directors at its meeting held on 23rd May, 2012.
2- The packaging
business of the Company is a seasonal business, as such; the performance of the
business may not be representative of the annual performance of the Company.
3- Deferred tax
liability has been calculated as per Accounting Standard "AS-22" and
the provision there has been made in the Annual Accounts for the Financial Year
ended 31st March, 2012.
4- Consequent to
the notification of Revised Schedule VI under the Companies Act, 1956, the
financial statements for the year ended, 31st March, 2012 are prepared as per
the Revised Schedule VI. Accordingly, the previous year figures have also been
reclassified to confirm to this year classification. Previous periods' figures
have been regrouped and reclassified wherever necessary.
5- The
construction of Commercial Complex on Company's subsidiary M/s AMD Estates
& Developers Private Limited's land at Sector
-114, Gurgaon, Haryana has
been started under collaboration agreement with M/s VSR Infratech
Private Limited
6- The project at Haridwar, Uttrakhand is continued
to be kept on hold because of adverse market circumstances.
7- The Board of
Directors have recommended a final dividend of Re. 1/- per equity share of face
value of Rs. 10/- each for the financial year ended
31st March, 2012 to be paid to those shareholders whose name shall appear on
the Register of Members as on the record date to be notified for the purpose.
8- Figures of last
quarter are the balancing figures between audited figures for full financial
year and published year to date figure upto the date
of third quarter of the current financial year.
9- The Company has
planned for 6th PET Preform Line at Company's works
at Neemrana, Rajasthan and the same is expected to be
installed by the end of October, 2012.
Fixed Assets
·
Land
·
Building
·
Plant and Machinery
·
Vehicle
·
Computer
·
Furniture, Fixtures and
Fitting
AS PER WEB SIDE
DETAILS
COMPANY PROFILE
:
AMD Group is a conglomerate of a group of companies engaged primarily in the
manufacturing of packaging articles being used in soft drinks, Beverages, water, beer,
liquor and pharmaceutical industries.
They are the only company in
With humble beginning in 1958 as a trading company, the
group is now
Board of Directors
Mr. H.S. Gupta
(Executive Chairman)
Mr. H.S. Gupta, one of the founder promoters, has been associated with the packaging industry for more than 49 years. Mr. H.S. Gupta is holding Directorships in various other Companies. Mr. H.S. Gupta has played a vital role in the growth of the company.
Mr. Ashok Gupta (Managing Director)
Mr. Ashok Gupta is on the Board of the Company since its incorporation and managing its day to day affairs since its incorporation in the year 1983. Mr. Ashok Gupta, a Bachelor of Science, is the son of Mr. H.S. Gupta. Mr. Ashok Gupta is associated with the packaging industry since 1974. He started his business under one firm i.e. Shyam Industries which was engaged in the business of manufacturing of pilfer proof Aluminum caps mainly used by liquor industry
Mr. Adit Gupta (Whole Time Director)
Mr. Adit Gupta, son of Shri Ashok Gupta, joined the Board of the Company since June, 2006. Mr. Adit Gupta, alumnus of Virginia and Boston Universities, USA, did his Chemical Engineering from Virginia and MBA (Finance) from Boston. He also did his training module at Sacmi, Italy to get firsthand experience of beverage packaging trends and know-how in plastics and crowns manufacturing. Mr. Adit Gupta looks after business development and strategic planning function of the Company.
Mr. Mahipal Ahluwalia (Independent
Director)
Mr. Mahipal Ahluwalia is the renowned Supreme Court Lawyer. He is into diversified litigations of Supreme Court and High Courts for the last 32 years.
Mr. Seshadri Ratnam (Independent
Director)
Mr. Seshadri Ratnam, a Science Graduate in Physics and a FCA from The Institute of Chartered Accountants of England and Wales, London, U.K, has over 37 years of rich experience in Corporate Laws, Finance and Taxation. He also held the position of Director Finance of Uttaranchal Jal Vidyut Nigam Limited. He also served as Director Finance in Bharti Telecom..
Mr. Prabhat Krishna (Independent Director)
Mr Prabhat Krishna aged about 63 yers, Mr Prabhat Krishana is a retired banker from State Bank of India. He is B. Tech (Chem) from IIT, New Delhi. He started his career with a Chemical Consultancy firm. He joined SBI as Probationary Officer in 1973. He kept on moving different position within the bank and handled Corporate Account with a minimum limit of Rs. 500.00 Millions and above. Mr Prabhat Krishna worked with the Bank for 35 years and retired in November 2007.
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.56.05 |
|
|
1 |
Rs.86.69 |
|
Euro |
1 |
Rs.69.98 |
INFORMATION DETAILS
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
44 |
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.