1. Summary Information
|
|
|
Country |
India |
|
Company Name |
SAINT-GOBAIN
GLASS INDIA LIMITED |
Principal Name 1 |
Mr. Anand Y Mahajan |
|
Status |
Good |
Principal Name 2 |
Mr. Joseph Andrew Pereira |
|
|
|
Registration # |
18-037875 |
|
Street Address |
Plot No. A1, Sipcot Industrial Area,
Sriperumbudur, Chennai – 602 105, Tamilnadu, India |
||
|
Established Date |
02.04.1997 |
SIC Code |
-- |
|
Telephone# |
91-44-27162832 to
39 / 41-1132834 |
Business Style 1 |
Glass |
|
Fax # |
91-44-27162840 /
41 / 41-1132841 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Float Glass |
|
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs. 943,635,800 /- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings - 96.42 % Bodies corporate - 3.58% |
Banking |
HDFC
Bank Limited |
|
Public Limited Corp. |
No |
Business Period |
16 Years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
A
(62) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding Company |
Germany |
Saint-Gobain Glass Deutschland, Germany |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
4,408,220,000 |
Current Liabilities |
5,108,290,000 |
|
Inventories |
3,890,170,000 |
Long-term Liabilities |
6,338,270,000 |
|
Fixed Assets |
16,536,810,000 |
Other Liabilities |
1,637,750,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
13,084,310,000 |
|
Invest& other Assets |
5,390,960,000 |
Retained Earnings |
16,198,210,000 |
|
|
|
Net Worth |
17,141,850,000 |
|
Total Assets |
30,226,160,000 |
Total Liab. & Equity |
30,226,160,000 |
|
Total Assets (Previous Year) |
17,246,750,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
15,949,640,000 |
Net Profit |
750,390,000 |
|
Sales(Previous yr) |
13,422,490,000 |
Net Profit(Prev.yr) |
1,385,970,000 |
MIRA
INFORM REPORT
|
Report Date : |
05.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAINT-GOBAIN GLASS INDIA LIMITED |
|
|
|
|
Registered
Office : |
Plot No. A1,
Sipcot Industrial Area, Sriperumbudur, Chennai – 602 105, Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation
: |
02.04.1997 |
|
|
|
|
Com. Reg. No.: |
18-037875 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.943.640 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26109TN1997PLC037875 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
CHES05530A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS4338M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The company engaged in the business of glass |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 68000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and reputed company having fine track
record. The company’s performance capability seems to be good. Financial position of the company appears to
be sound. Trade relations are reported as fair. Business is active. Payments
are reported to be regular and as per commitment. The company can be considered normal for business dealings at usual
trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed legislative
work. India's medium-term growth outlook is positive due to a young population
and corresponding low dependency ratio, healthy savings and investment rates,
and increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = AA |
|
Rating Explanation |
High degree of safety it carry very low credit risk. |
|
Date |
10.01.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A1+ |
|
Rating Explanation |
Highest degree of safety it carry lowest credit risk. |
|
Date |
10.01.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered
Office / Factory 1 : |
Plot No. A1, Sipcot
Industrial Area, Sriperumbudur, Chennai – 602 105, |
|
Tel. No.: |
91-44-27162832 to
39 / 41-1132834 |
|
Fax No.: |
91-44-27162840 /
41 / 41-1132841 |
|
E-Mail : |
venkateswaran.l@saint-gobain.com
sathya.narayanan@in.calyon.com
|
|
Website : |
|
|
Area : |
100000 sq. ft on
About 125 Acres Land |
|
Location : |
Owned |
|
|
|
|
Administrative
Office : |
Sigapi Aachi Building, Floor No 7, 18/3, Rukmani
Lakshmipathy Road, Egmore, Chennai – 600008, Tamilnadu, India |
|
Tel. No.: |
91-44-45936000 |
|
Fax No.: |
91-44-45936000 |
|
|
|
|
Principal Office
: |
Saint-Gobain Vitrage, Les Miriors, 18, Avenue d’ Alsace –
92096 La Defense Cedex, France |
|
Tel No. : |
33 (1) 47623000 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Anand Y
Mahajan |
|
Designation : |
Whole-Time Director |
|
Address : |
Fiona, |
|
Date of Birth/Age : |
03.01.1953 |
|
Qualification : |
M.A (ECON), MBA (USA) |
|
Date of Appointment : |
02.04.1997 |
|
DIN No.: |
00066320 |
|
|
|
|
Name : |
Mr. Joseph Andrew
Pereira |
|
Designation : |
Alternate
Director |
|
Address : |
No.8, Coral Reef,
55, |
|
Date of Birth/Age : |
24.11.1948 |
|
Date of Appointment : |
05.04.2007 |
|
DIN No.: |
00130239 |
|
|
|
|
Name : |
Mr. Mahadeo Achyut Puranik |
|
Designation : |
Alternate
Director |
|
Address : |
Building No. 73B, Flat No.21, Brindavan Majiwade, Thane - 400603, |
|
Date of Birth/Age : |
10.12.1955 |
|
Date of Appointment : |
31.03.2010 |
|
DIN NO.: |
00130340 |
|
|
|
|
Name : |
Mr. Santhanam
Bhuvarghamurthy |
|
Designation : |
Managing Director
|
|
Address : |
|
|
Date of Birth/Age : |
02.03.1957 |
|
Qualification: |
B. Tech (Civil) PGD/ MGT |
|
Date of Appointment : |
22.01.1998 |
|
DIN No.: |
00494806 |
|
|
|
|
Name : |
Mr. Swaminathan Eisenhower |
|
Designation : |
Whole-time Director |
|
Address : |
Flat No.A-102, Prince Villa No.15, |
|
Date of Birth/Age : |
24.11.1952 |
|
Qualification: |
B. Tech – Chem |
|
Date of Appointment : |
26.04.2010 |
|
DIN No.: |
01521855 |
|
|
|
|
Name : |
Mr. Ramakrishnan Subramanian |
|
Designation : |
Whole-time Director |
|
Address : |
E-3, Juniper Apartments, Tas Enclave, 10th Main Road Extension,
Anna Nagar, Chennai – 600040, Tamilnadu, India |
|
Date of Birth/Age : |
26.01.1966 |
|
Qualification: |
B. Tech (Electronics), Diploma in (PGDM) |
|
Experience: |
17 Years |
|
Date of Appointment : |
01.01.2013 |
|
DIN NO.: |
01521968 |
|
|
|
|
Name : |
Mr. Patrick Dupin |
|
Designation : |
Director |
|
Address : |
51, Avenue De Paris, |
|
Date of Birth/Age : |
09.12.1963 |
|
Date of Appointment : |
20.06.2007 |
|
DIN NO.: |
01522067 |
|
|
|
|
Name : |
Mr. Benoit D’Iribarne |
|
Designation : |
Director |
|
Address : |
5, Reu Bellavoine, |
|
Date of Birth/Age : |
09.09.1961 |
|
Date of Appointment : |
09.07.2002 |
|
DIN NO.: |
01610383 |
|
|
|
|
Name : |
Mr. Tyagarajan Bhaskaran |
|
Designation : |
Whole-time Director |
|
Address : |
Flat No.B2, Plot No.587, |
|
Date of Birth/Age : |
20.07.1960 |
|
Qualification: |
B.Com, Associate ICWAI |
|
Date of Appointment : |
26.04.2010 |
|
DIN NO.: |
02168348 |
|
|
|
|
Name : |
Mr. Jean Pierre
Floris |
|
Designation : |
Director |
|
Address : |
3, |
|
Date of Birth/Age : |
09.07.1948 |
|
Date of Appointment: |
30.06.2008 |
|
DIN NO.: |
02504627 |
|
|
|
|
Name : |
Mr. Bousquet Olivier |
|
Designation : |
Director |
|
Address : |
5, Reu Du Midi, |
|
Date of Birth/Age : |
11.03.1950 |
|
Date of Appointment : |
30.06.2008 |
|
DIN NO.: |
02746320 |
KEY EXECUTIVES
|
Name : |
Mr. L.
Venkateswaran |
|
Designation : |
Secretary |
|
Address : |
Flat No. FOE, 4th Floor, Block 2, Jains Kences, Retreat 15 Reddy
Street, Virugambakkam, Chennai – 600092, |
|
Date of Birth/Age : |
10.02.1958 |
|
Date of Appointment : |
31.03.2010 |
|
PAN No. : |
AAMPV0608D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Foreign Promoters |
|
|
|
Saint Gobain
Glass Deutschland GMBH, |
|
37753813 |
|
Societe de
Participations Financieries et Industrielles |
|
54109767 |
|
|
|
|
|
Indian Body Corporate |
|
|
|
Grindwell Norton
Limited, India (A Subsidiary of
Compagnie de Saint-Gobain (Saint-Gobain) |
|
2499993 |
|
|
|
94363573 |
|
Individuals (Jointly with Grindwell Norton Limited) |
|
|
|
Grindwell Norton
Limited |
|
1 |
|
Grindwell Norton
Limited B Santhanam, India |
|
1 |
|
Grindwell Norton
Limited and Mr. J. A. J. Pereira, India
|
|
1 |
|
Grindwell Norton
Limited Aju Verghese, India, India |
|
1 |
|
Grindwell Norton
Limited Puranik A Mahadev, |
|
1 |
|
Grindwell Norton
Limited |
|
1 |
|
Grindwell Norton
Limited |
|
1 |
|
Total |
|
94363580 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
96.42 |
|
Bodies corporate |
3.58 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company engaged in the business of glass |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (As on 31.03.2011)
Installed
Capacity:
|
Particulars |
Unit |
31.03.2011 |
|
Glass # |
Tons |
475000 |
|
Laminated Glass # |
Pcs |
1300000 |
|
Tempered (S/L) Glass # |
Pcs |
6000000 |
|
Tempered (B/L) Glass # |
Pcs |
1200000 |
Actual Production:
|
Particulars |
Unit |
31.03.2011 |
|
Glass (**) |
Tons |
420106 |
|
Laminated Glass (**) |
Pcs |
751762 |
|
Tempered Glass (**) |
Pcs |
4918705 |
Notes:
* Under the
liberalized policy of the Government, Company’s products are exempted from
licensing provision under the Industries (Development and Regulation) Act,
1951.
# installed
capacity is as certified by the management and relied upon by the auditors,
being a technical matter.
(**) Net of breakages / unusable glass.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
· HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra, India · Calyon Bank 27th Floor, Two Pacific Place, 88, Queensway, Hong Kong · ABN Amro Bank N. V., Credit Administration Department, 63, Chulia Street, Singapore – 049514, Singapore · Canara Bank, Corporate service Branch; 1 Floor; Spencer Tower, 770-A; Anna Salai, Chennai - 600002, Tamilnadu, India · Indian Overseas Bank, Irungattukottai Branch, Chennai, Tamilnadu, India · Standard Chartered Bank, New London Bridge House, 25 New London Bridge Street, London SE19TB · State Bank of India, Corporate Accounts Group Branch, 149, Greams Road, Chennai 600006, Tamilnadu, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
8th Floor, Door No 129-140, Prestige Palladium Greams Road, Chennai - 600006 Tamilnadu, India |
|
PAN.: |
AAEFP5579P |
|
|
|
|
Ultimate Holding
Company : |
Compagnie de Saint-Gobain, France |
|
|
|
|
Holding Company : |
· Societe De Participations Financieres Et Industrielles · Saint-Gobain Glass Deutschland, Germany |
|
|
|
|
Fellow Subsidiaries |
· Saint-Gobain Promotions et Participations Internationales France · Grindwell Norton India Limited · Saint-Gobain Seva , France · Hankuk Glass Industries , Korea · Saint-Gobain Glass Italia, Italy · Saint-Gobain Cristellaria Spain · Saint-Gobain Sekurit India Limited, India · Saint-Gobain Vetrotex India Limited · Saint-Gobain Isover France · Saint-Gobain Glass Portugal · Saint Gobain KandK Japan · Saint Gobain Oberland · Saint-Gobain Glass, France · Saint-Gobain Exprover · Saint-Gobain Glass UK · Saint Gobain Glass Solar Control · Saint Gobain SEPR, France · Saint Gobain Hankuk Japan · Saint Gobain Nanjing · Saint Gobain Sekurit Korea · Saint Gobain Glass Mexico · Saint Gobain · Sekurit Deutschland, GmBH* · Saint Gobain Hanglass, Japan · Saint Gobain Vitrage Odessa · Saint Gobain Direction Technique · Saint Gobain Gyproc (Formerly known as India Gypsum) · Saint Gobain Autover Distribution S.A · Savoie SEPR · SEPR Italia · Verrerie Aurys · Hankuk Sekurit Limited · Saint Gobain Hanglas CIFG Qingdao · SG Vertax · Shanghai Saint Jungle · Saint Gobain Sekurit – France · SG Glass Polska · Saint-Gobain Glass Benelux S.A. · SG Sekurit Thailande Company Limited · Cesa Construction · Najing New Nawnoo Glass Industries · SG Glass Italia SpA · SG Glass Romania, SRL · Saint Gobain India Delegation · Saint Gobain Crystal and Detectors India Limited · SEPR Refractories India Limited · Saint Gobain India Foundation · Saint-Gobain Techniver S.A · Saint-Gobain Cristaleria S.A · Vetrotech Saint -Gobain Hong Kong · Vetrotech Saint-Gobain International AG · Verrerie de Saint-Just · Saint-Gobain Glass UK Limited · Saint-Gobain Hanglas Sekurit (Shanghai) Company Limited · Saint-Gobain (Singapore) Pte Limited · Saint-Gobain Autover International BV · Savoie Réfractaires · Saint-Gobain Recherche · Direction technique international · Saint-Gobain Conceptions Verrieres · Saint-Gobain Photovoltaic Glass · Saint-Gobain Cristaleria S.A · Vetrotech Saint Gobain FR · Saint Gobain Vidros S/A · Eckelt Glas GMBH · Crisa-Norte, Spain · Saint – Gobain do Brasil Produtos · Cebrace crystal Plano · Saint – Gobain K.K. , Tokyo · Saint-Gobain Sekurit CR spol. s r.o, Czech Republic · Saint Gobain Glass Egypt |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
94364000 |
Equity Shares |
Rs.10/- each |
Rs.943.640
millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
94363580 |
Equity Shares |
Rs.10/- each |
Rs.943.636 millions |
|
|
|
|
|
Disclosure of
shareholding more than five per cent in company
|
Name of shareholder |
Number of shares held in company |
Percentage of shareholding in company |
|
Saint-Gobain Glass Deutschland, Germany |
3,77,53,813 |
40.01% |
|
Societe De Participations Financieres et Industrielles |
5,41,09,767 |
57.00% |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
943.640 |
697.350 |
569.696 |
|
|
2] Share Application Money |
0.000 |
0.000 |
1914.813 |
|
|
3] Reserves & Surplus |
16198.210 |
10522.100 |
7299.696 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
17141.850 |
11219.450 |
9784.205 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1282.560 |
0.000 |
250.000 |
|
|
2] Unsecured Loans |
5055.710 |
1589.400 |
1664.394 |
|
|
TOTAL BORROWING |
6338.270 |
1589.400 |
1914.394 |
|
|
DEFERRED TAX LIABILITIES |
1567.500 |
1290.000 |
1409.800 |
|
|
|
|
|
|
|
|
TOTAL |
25047.620 |
14098.850 |
13108.399 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
16536.810 |
10338.940 |
9773.419 |
|
|
Capital work-in-progress |
5146.620 |
672.240 |
1101.148 |
|
|
|
|
|
|
|
|
INVESTMENT |
244.340 |
244.230 |
469.404 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3890.170
|
2194.250 |
1902.830
|
|
|
Sundry Debtors |
2396.510
|
1790.840 |
2013.821
|
|
|
Cash & Bank Balances |
351.030
|
248.630 |
206.233
|
|
|
Other Current Assets |
131.350
|
2.750 |
13.519
|
|
|
Loans & Advances |
1529.330
|
1754.870 |
679.929
|
|
Total
Current Assets |
8298.390
|
5991.340 |
4816.332 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2839.810
|
2092.430 |
2653.539
|
|
|
Other Current Liabilities |
2268.480
|
957.360 |
338.457
|
|
|
Provisions |
70.250
|
98.110 |
59.908
|
|
Total
Current Liabilities |
5178.540
|
3147.900 |
3051.904 |
|
|
Net Current Assets |
3119.850
|
2843.440 |
1764.428
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
25047.620 |
14098.850 |
13108.399 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
15861.42 |
13315.160 |
11828.934 |
|
|
|
Other Income |
88.220 |
107.330 |
448.959 |
|
|
|
TOTAL (A) |
15949.640 |
13422.490 |
12277.893 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
4224.990 |
|
|
|
|
|
Purchases of stock-in-trade |
881.290 |
388.910 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(1045.540) |
(71.550) |
9291.539 |
|
|
|
Employee benefit expense |
840.730 |
760.110 |
|
|
|
|
Other expenses |
8197.230 |
5923.640 |
|
|
|
|
TOTAL (B) |
13098.700 |
10205.070 |
9291.539 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2850.940 |
3217.420 |
2986.354 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
255.810 |
85.600 |
304.588 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2595.130 |
3131.820 |
2681.766 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1489.380 |
1058.130 |
1028.043 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1105.750 |
2073.690 |
1653.723 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
355.360 |
687.720 |
584.810 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
750.390 |
1385.970 |
1068.913 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3466.893 |
2080.923 |
1012.010 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
4217.283 |
3466.893 |
2080.923 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
1061.818 |
1074.773 |
|
|
TOTAL EARNINGS |
NA |
1061.818 |
1074.773 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
|
1199.621 |
|
|
|
Stores & Spares |
|
|
310.668 |
|
|
|
Packing Material |
NA |
NA |
4.234 |
|
|
|
Capital Goods |
|
|
92.612 |
|
|
|
Traded Goods |
|
|
62.505 |
|
|
TOTAL IMPORTS |
NA |
NA |
1669.640 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.48 |
20.18 |
18.76 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
4.70
|
10.33 |
8.71
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.97
|
15.57 |
13.98
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.45
|
12.70 |
11.33
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.18 |
0.17
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.37
|
0.14 |
0.20
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.60
|
1.90 |
1.58
|
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
OPERATIONS
During the year, the Company had acquired the Glass Business located at 36, Jhagadia Industrial Estate, Bharuch District, Gujarat from Sezal Glass Limited through Business Transfer Agreement dated 31st May 2011 on a slump sale basis as a going concern. The Operations of the Jhagadia Unit have been well integrated.
The sales during the financial year 2011-12 grew by 19%. The year 2011-12 had witnessed significant cost increases in all areas, more particularly in raw materials, energy, packing and transportation. The global economy saw negative growth. The Indian Economy’s growth rate was also affected, which was lower than the previous year. The Company is operating in a market which is highly competitive. Entry of three new float lines in the years 2010 and 2011 also added to the competitive pressures. These factors led to a situation where the cost increases could not be fully passed on to the customers. All these had a heavy negative impact on the bottom line. The Profit Before Tax for 2011-12 was lower by 47% over the previous year.
During the year the Company has received application money for Equity Shares amounting to Rs. 5172.000 Millions and the Equity Shares have been allotted in June 2011.
FUTURE PROSPECTS
The prospects for the coming year look even more challenging, with low growth in India, new challenges for the European and global economy and continuance of high cost of energy and raw materials. The Company is taking several steps to reduce cost
The plant construction work at Bhiwadi, Rajasthan, where The Company is setting up a new facility, is in progress.
CONTINGENT
LIABILITY
|
Particulars |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
|
|
|
|
|
|
Claims against the Company not acknowledged as debts in respect of various
cases relating to taxation |
174.351 |
74.287 |
|
Channel Financing |
100.133 |
86.578 |
|
The company has availed customs duty exemption for imports under
export promotion capital goods scheme. The company is in the process of meeting
obligation under the scheme |
195.237 |
244.199 |
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long-term
borrowings |
|
|
|
Other loans and advances |
3680.34 |
772.070 |
|
Short-term borrowings |
|
|
|
Term loans |
1375.370 |
817.330 |
|
Total |
5055.710 |
1589.400 |
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Data Processing
Equipments
·
Furniture, Fixture and
office equipments
·
Vehicles
AS PER WEBSITE
PROFILE
Subject established its
presence in
Within these sectors, a variety of products
are manufactured by eight different companies:
FLAT GLASS
Subject, which manufactures and markets float glass
and mirrors from its plant near Chennai
Saint-Gobain Sekurit India Limited (SGSI), which offers a
range of automotive glass products.
HIGH PERFORMANCE MATERIALS
Grindwell Norton Limited (GNO), which
manufactures and markets abrasives, silicon carbide, high performance
refractories and performance plastics from its six manufacturing locations.
Saint-Gobain Crystals and Detectors
India Limited (SGCD), which manufactures and markets radiation detection
and measurement products, and SEPR
Refractories India Limited (SEPR), which manufactures and markets
electrofused refractories.
CONSTRUCTION PRODUCTS
Saint-Gobain Weber (SGW), which offers
facade and tiling solutions and technical mortars
Saint-Gobain SEVA Engineering India
Limited (SGSEIL), which manufactures top rolls, tempering furnaces and
toolings for the automotive sector, moulds for containers and some building
hardware products, and
Saint-Gobain Gyproc India (formerly
India Gypsum), which manufactures an extensive range of Gypsum boards
and plasters systems and solutions for partitions, wall panels, ceilings and
internal wall linings.
In order to further its business growth in the Indian sub-continent, Subject also established the General
Delegation for
Subject places great emphasis on developing its
businesses and strengthening its presence in the Indian market. This combined
with its investment in manufacturing activities to fuel growth, makes it
possible to bring in advanced technological competency in providing
state–of–the-art products to the customers.
PRESS RELEASES
SAINT-GOBAIN GLASS
INDIA ANNOUNCES THE NATIONAL WINNERS OF TRANSPARENCE 2012 AT SONEPAT ON 26TH JANUARY,
2013
February 2013
· Participation from 60 colleges
· Over 1200 registrations and 235 submissions
· 8 finalists shortlisted for the grand finale
The Saint-Gobain Glass initiative 'Transparence 2012' (an annual design competition held for students of Architecture and Interior Design) found culmination with its Grand Finale at Sonepat on 26th January, 2013.
Transparence is a unique endeavour by Saint-Gobain Glass to integrate the student community, architects and the industry.
The theme for Transparence 2012 was “Club House Design”.
The competition witnessed an overwhelming response in terms of more than 1200+ registrations and 235 submissions from over 60 colleges.
8 finalists were shortlisted during the regional rounds and they will compete on 26th January, 2013 during the grand finale at SONEPAT for the winner title.
The grand finale will be adjudged by an eminent jury of architects : Architect Sanjay Mohe, Mind space Architects, Architect Farhad T Khareghat, Khareghat Associates, Mumbai, Architect R. Chandrasekhar, Chief Architect, Ministry of Health and Family Welfare, Government of India and Architect Rupak Kothari, Kothari Associates.
In addition, Saint-Gobain Glass India also announced scholarship prizes worth INR 6 Lakhs , to 6 architecture students to pursue their projects.
The grand finale will be adjudged by an eminent jury of architects : Architect Sanjay Mohe, Mind space Architects, Architect Farhad T Khareghat, Khareghat Associates, Mumbai, Architect R. Chandrasekhar, Chief Architect, Ministry of Health and Family Welfare, Govt. of India and Architect Rupak Kothari, Kothari Associates.
In addition, Saint-Gobain Glass India also announced scholarship prizes worth INR 6 Lakhs , to 6 architecture students to pursue their projects.
SAINT-GOBAIN LAUNCHES
A GLOBAL R AND D CENTRE IN INDIA
December 2012
· Saint-Gobain SIGNS AN MOU WITH IITM RESEARCH PARK
· The seventh cross-functional research and development centre - Saint-Gobain Research India (SGRI), to be located in Chennai
Saint-Gobain, the world leader in the habitat and construction markets, announced the launch of its seventh cross-functional research and development centre, Saint-Gobain Research India (SGRI), to be located in Chennai.
Close collaboration with IIT Madras is at the heart of Saint-Gobain’s decision to base SGRI in Chennai. Saint-Gobain and IIT-M Research Park agree to develop the next phase of the research park with Saint-Gobain as an ‘Anchor Client’. A Memorandum of Understanding (MoU) was signed today by Saint-Gobain and IITM Research Park
SGRI will work for all of Saint-Gobain’s industrial activities and will drive initiatives to develop sustainable habitat solutions for the region. These are envisaged in the form of transversal programs such as energy solutions for hot climates, energy efficiency in buildings, affordable mass housing etc.
The launch of SGRI was marked by a one-day research Symposium with leading research community and senior faculty from all over India on December 13th in Chennai. Saint-Gobain will start the new R and D center at an interim location in Chennai during the construction phase of the expansion at IITM RP.
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 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 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.54.88 |
|
|
1 |
Rs.83.54 |
|
Euro |
1 |
Rs.70.90 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
62 |
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.