|
Report Date : |
17.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
NATURAL SUGAR AND ALLIED INDUSTRIES LIMITED |
|
|
|
|
Registered Office : |
Ranjani, Tal. Kallam, District Osmanabad – 413528, |
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Country : |
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Financials (as on) : |
31.03.2009 |
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|
|
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Date of Incorporation : |
24.11.1998 |
|
|
|
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Com. Reg. No.: |
11-121048 |
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CIN No.: [Company
Identification No.] |
U99999MH1998PLC121048 |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
NSKN00967B |
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|
|
Legal Form : |
A closely held public limited liability company |
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|
Line of Business : |
Manufacturer, Buyers, Importer, Exporter, Extrnctors and Dealers of
all agro based products, farm products including sagar gur, and all other by
products. |
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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered/Factory Office : |
Ranjani, Tal. Kallam, District Osmanabad – 413528, |
|
Tel. No.: |
91-2373-273301/2/3,273540,265503/4/5 |
|
Fax No.: |
91-2373-273655/220818 |
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E-Mail : |
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Website : |
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Corporate Office : |
A-70/3, Textile Complex, MIDC, Latur – 413531, |
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Tel. No.: |
91-2382-220818 |
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Website: |
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DIRECTORS
AS ON 19.09.2009
|
Name : |
Mr. Bibhishan Krishna Bhatlanande |
|
Designation : |
Director |
|
Address : |
Kranti Nagar, |
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Date of Birth/Age : |
08.08.1950 |
|
Date of Appointment : |
16.07.2005 |
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|
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|
Name : |
Mr. Sunil Ashruba Devane |
|
Designation : |
Director |
|
Address : |
Sainagar Ranjani, Tal. Kallam, District Osmanabad, |
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Date of Birth/Age : |
05.12.1965 |
|
Date of Appointment : |
28.03.2005 |
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|
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|
Name : |
Mr. Agatrao Rangnath Patil |
|
Designation : |
Director |
|
Address : |
8T/1/1, Rutuja Park, Baner, Mahalunge Road, Balewadi Fata, New Baner,
Pune – 411045, Maharashtra, India |
|
Date of Birth/Age : |
10.02.1944 |
|
Date of Appointment : |
16.07.2005 |
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|
Name : |
Mr. Bhairavanath B. Thombare |
|
Designation : |
Chairman and Managing Director |
|
Address : |
Plot No. 2, Vikramnagar, Sr. No 233/1, Near M S Housing Society, |
|
Date of Birth/Age : |
24.04.1953 |
|
Date of Appointment : |
24.11.1998 |
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Name: |
Mrs. Pratibha B. Thombare |
|
Designation : |
Director |
|
Address : |
Plot No. 2, Vikramnagar, Sr. No 233/1, Near M S Housing Society, |
|
Date of Birth/Age : |
11.01.1956 |
|
Date of Appointment : |
24.11.1998 |
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|
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|
Name : |
Mr. Anil B. Thombare |
|
Designation : |
Director |
|
Address : |
A-70/3, Textile complex, MIDC, Latur
- 413531, |
|
Date of Birth/Age : |
16.07.1966 |
|
Date of Appointment : |
24.11.1998 |
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|
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|
Name : |
Mr. Goroba B. Thombare |
|
Designation : |
Director |
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|
Name : |
Mr. Dnyaneshwar R. Kaldate |
|
Designation : |
Director |
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|
Name : |
Mr. Sambhaji G. Reddy |
|
Designation : |
Director |
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|
Name : |
Mr. Laxman S. Kaldate |
|
Designation : |
Director |
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|
Name : |
Mr. Ashruba R. Devane |
|
Designation : |
Director |
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|
Name : |
Mr. Vishnu T. Mohite |
|
Designation : |
Director |
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|
Name : |
Mr. Kundik Bulbute |
|
Designation : |
Director |
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|
Name : |
Mr. Hanumant P. Bhise |
|
Designation : |
Director |
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|
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|
Name : |
Mr. D. B. Gore |
|
Designation : |
Director |
|
Address : |
Near of Tahasil Karyalaya Mitra Nagar, Latur District, Latur, |
|
Date of Birth/Age : |
26.07.1942 |
|
Date of Appointment : |
16.07.2005 |
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|
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|
Name : |
Mr. P. S. Awad |
|
Designation : |
Director |
|
Address : |
At Post Awad Shirpurata Kallam District, Osmanabad, |
|
Date of Birth/Age : |
04.09.1959 |
|
Date of Appointment : |
16.07.2005 |
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|
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|
Name : |
Mr. B. K. Bhatlawande |
|
Designation : |
Director |
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|
|
|
Name : |
Mr. S. S. Pardesi |
|
Designation : |
Director |
|
Address : |
AT Post Sadar Bazar, Ambajogai Tq. Ambajogai District, Beed,
Ambajogai, |
|
Date of Birth/Age : |
01.08.1944 |
|
Date of Appointment : |
15.09.2006 |
|
|
|
|
Name : |
Mr. B. B. Tat |
|
Designation : |
Additional Director |
|
Address : |
At Post Apegaon Ta, Ambajogai District, Beed, Ambajogai, |
|
Date of Birth/Age : |
09.07.1976 |
|
Date of Appointment : |
24.04.2009 |
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|
|
|
Name : |
Mr. L. B. Pawar |
|
Designation : |
Director |
|
Address : |
AT Post Devla Ta, Ambajogai District, Beed, Ambajogai, |
|
Date of Birth/Age : |
02.08.1960 |
|
Date of Appointment : |
16.07.2005 |
|
|
|
|
Name : |
Mr. S. A. Devane |
|
Designation : |
Director |
|
Address : |
At P Takalgaon Ta and District Latur, |
|
Date of Birth/Age : |
05.12.1965 |
|
Date of Appointment : |
28.03.2005 |
|
|
|
|
Name : |
Mr. Bajirao B Tat |
|
Designation : |
Director |
|
Address : |
At Post Apegaon Ta, Ambajogai District, Beed, Ambajogai, |
|
Date of Birth/Age : |
01.04.1937 |
|
Date of Appointment : |
16.07.2005 |
|
Date of Cessation : |
02.04.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 19.09.2009
|
Names of Shareholders |
No. of Shares |
|
Kaldate Dnyaneshwar |
1300 |
|
Mohite Vishnu Tukara |
2000 |
|
Thombare Anil Bhagwa |
10000 |
|
Thombare Bhairavnath |
41000 |
|
Thombare Goroba Bhag |
10000 |
|
Thombare Pratibha Bh |
20000 |
|
Awad Balasaheb Saheb |
1500 |
|
Awad Kevalbai Sahebr |
16000 |
|
Awad Pandurang Saheb |
12000 |
|
Awad Suryakant Saheb |
1600 |
|
Autade Acchutrao Dag |
1000 |
|
Autade Bhagwat Dagad |
1000 |
|
Autade Dagadu Anna |
1000 |
|
Autade Meena Bhagwat |
1000 |
|
Autade Vidhayvati Ac |
1000 |
|
Awad Ajitsinh Rajkum |
2000 |
|
Awad Amarshinha Pand |
200 |
|
Awad Pratapshinh Bal |
300 |
|
Awad Rajshree Rajkum |
200 |
|
Awad Mahesh Panduran |
100 |
|
Awad Rukminbai Pandu |
100 |
|
Awad Omkar Balasaheb |
300 |
|
Awad Mangalbai Balas |
100 |
|
Agale Rajesaheb Shri |
6000 |
|
Agale Atmaram Shripa |
1300 |
AS ON 19.09.2009
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Bodies corporate |
|
15.19 |
|
Directors or relatives of directors |
|
13.93 |
|
Other top fifty shareholders |
|
15.91 |
|
Others |
|
54.97 |
|
|
|
|
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Buyers, Importer, Exporter, Extrnctors and Dealers of
all agro based products, farm products including sugar gur, and all other by
products. |
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Products : |
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||||||||||
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PRODUCTION STATUS (As on 31.03.2009)
|
Particulars |
|
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
1) Sugar Division:- |
|
|
|
|
|
Sugar Cane crushing (N-Sai) |
|
3500 |
3500 |
756880 |
|
Sugar Cane crushing (JS S K) |
|
800 |
800 |
194025 |
|
|
|
TCPD |
TCPD |
Qtls |
|
2) Refinary Division:- |
|
|
|
|
|
Refined Sugar |
|
250 |
250 |
11421 |
|
|
|
MT |
MT |
MT |
|
3) Distillery Division:- |
|
|
|
|
|
Rectified Sprit or ENA |
|
30000 |
30000 |
10515011.30 |
|
|
|
B.L/Day |
B.L/Day |
B.L/Day |
|
Ethanol |
|
30000 |
30000 |
0.000 |
|
|
|
B.L/Day |
B.L/Day |
B.L/Day |
|
4) Steel Division:- |
|
|
|
|
Silico Manganese |
|
33000 |
33000 |
3568.000 5179.700 |
|
|
|
(MTPA) |
(MTPA) |
MT |
|
2. Slag |
|
50000 |
50000 |
5144.660 |
|
|
|
(MTPA) |
(MTPA) |
MT |
|
5) Co-Generation Division:- |
|
|
|
|
|
Power Generation |
|
6 |
6 |
23706100 |
|
|
|
MW |
MW |
KWH |
GENERAL INFORMATION
|
Bankers : |
·
Bank
of Baroda Latur Branch,
Latur – 413512, Maharashtra, India ·
Janakalyan Sahakari Bank Limited Chembur, Mumbai – 400071, Maharashtra, India ·
Industrial
Development Bank of India Limited Latur Branch,
Latur - 413512 , Maharashtra, India |
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Facilities : |
Note: (a) Long Term Loans (i) The Long Term Loan from Bank of Baroda Branch Latur is first
Secured By company's Land and structural there on and Fixed Assets, Plant and
Machinery of Sugar Division. The mortgage and charge referred to above shall
rank pari-passu interse on assets acquired and to be acquired including
company's immovable properties, both present and future including plant and
machinery subject to prior charge created in favour of Company's bankers and
are guaranteed by 11 Directors of the Company. (ii) The Long Term Loan from I.D.B.I. Bank Branch Latur borrowed for
Sugar Refinery Division is secured by second charge on Land, Building, Plant and Machinery of Sugar Division
and first charge on Sugar Refinery Plant and Machinery and Refinery's Assets. The borrowed amount is
guaranteed by 3 Directors of the Company. (iii) Term loan raised from State Govt. of Maharashtra is guaranteed by
Jankalyan Sahakari Bank Limited and counter guarantee to this furnished by
the Company. (iv) The Long Term Loan from Bank of Baroda Branch Latur borrowed for
JS S KL Unit is secured by Second charge on Land, Building, Plant and
Machinery of Natural Sugar and Allied Ind. Limited, Ranjani. The borrowed
amount is guaranteed by all 11 Directors of the Company. (v) The Medium Term Loan from I.D.B.I. Bank Branch Latur borrowed for
Sugar Division is secured by second charge on Land, Building, Plant and
Machinery of Sugar Division. The borrowed amount is guaranteed by 3 Directors
of the Company. (b) Working Capital Loans (i) The working capital Cash Credit Loans from Bank of Baroda are
secured by first charge by way hypothecation of stock of sugar and stock
acquired under export packing credit, and second charge on Fixed Assets of
the company and guaranteed by all the Directors by the company. (ii) The working capital Loans from I.D.B.I. Bank Limited Branch Latur
are secured by way of first charge on stock of sugar, and guaranteed by 3
Directors in their personal capacities. The packing credit loan is secured by
stock acquired under export packing credit. (c) Sales Tax Interest Free Loan The Company has availed a deferred sales tax benefit under the 1993
scheme of incentives of Government of Maharashtra. This has been converted
into interest free Government loan, and guaranteed by the Directors of the
Company. (d) Unsecured Loan The company has availed loan from Union Bank Of India branch Latur,
which is unsecured but guaranteed by 11 Directors. |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
S. H. Kocheta and Associates Chartered Accountants |
|
Address : |
Darda Complex, Subhash Chowk, Latur – 413512, |
|
Pan No. : |
ACHPK1836K |
|
|
|
|
Associates/Subsidiaries
: |
Saibaba Securities Private Limited Shri Sai Gramin B.S.S. Pat Sanstha, Ranjani |
CAPITAL STRUCTURE
As On 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity shares |
Rs.100/-each |
Rs.200.000 Millions |
|
|
|
|
|
Issued :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1809200 |
Equity shares |
Rs.100/-each |
Rs.180.920
Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1809200 |
Equity shares |
Rs.100/-each |
Rs.180.920
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
180.920 |
150.000 |
150.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
495.722 |
144.434 |
14.684 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
676.642 |
294.434 |
164.684 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
880.241 |
934.412 |
963.985 |
|
|
2] Unsecured Loans |
100.528 |
69.872 |
42.489 |
|
|
TOTAL BORROWING |
980.769 |
1004.284 |
1006.474 |
|
|
DEFERRED TAX LIABILITIES |
42.858 |
42.392 |
29.163 |
|
|
|
|
|
|
|
|
TOTAL |
1700.269 |
1341.110 |
1200.321 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
608.824 |
623.753 |
479.464 |
|
|
Capital work-in-progress |
74.056 |
8.258 |
85.337 |
|
|
|
|
|
|
|
|
INVESTMENT |
3.296 |
3.696 |
3.287 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1142.076
|
856.899 |
807.673 |
|
|
Sundry Debtors |
38.688
|
83.670 |
67.502 |
|
|
Cash & Bank Balances |
68.953
|
93.967 |
23.802 |
|
|
Other Current Assets |
5.922
|
6.692 |
8.347 |
|
|
Loans & Advances |
383.050
|
424.489 |
114.979 |
|
Total
Current Assets |
1638.689
|
1465.717 |
1022.303 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
101.323
|
205.027 |
64.631 |
|
|
Other Current Liabilities |
216.050
|
416.607 |
256.456 |
|
|
Provisions |
313.333
|
144.268 |
75.341 |
|
Total
Current Liabilities |
630.706
|
765.902 |
396.428 |
|
|
Net Current Assets |
1007.983
|
699.815 |
625.875 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
6.110 |
5.588 |
6.358 |
|
|
|
|
|
|
|
|
TOTAL |
1700.269 |
1341.110 |
1200.321 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2452.861 |
2436.592 |
988.886 |
|
|
|
Other Income |
155.606 |
77.785 |
31.988 |
|
|
|
TOTAL (A) |
2608.467 |
2514.377 |
1020.874 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cane Purchase and Raw material consumed |
1868.240 |
1551.261 |
898.915 |
|
|
|
Salary and Wages |
94.391 |
80.524 |
60.743 |
|
|
|
Manufacturing Expenses |
248.665 |
323.362 |
205.614 |
|
|
|
Administrative Expenses |
44.912 |
43.516 |
40.698 |
|
|
|
Other Expenses |
89.958 |
165.370 |
55.799 |
|
|
|
Increase/Decrease in Stock |
(268.776) |
(15.716) |
(357.851) |
|
|
|
TOTAL (B) |
2077.390 |
2148.317 |
903.918 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
531.077 |
366.060 |
116.956 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
77.348 |
106.937 |
51.761 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
453.729 |
259.123 |
65.195 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
51.501 |
45.060 |
34.479 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
402.228 |
214.063 |
30.716 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
133.001 |
61.353 |
9.683 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
269.227 |
152.710 |
21.033 |
|
|
|
|
|
|
|
|
|
Add |
PRIOR PERIOD
ADJUSTMENT |
0.715 |
(1.024) |
0.090 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
225.000 |
125.000 |
2.000 |
|
|
|
Proposed Dividend |
36.184 |
18.750 |
15.000 |
|
|
|
Corporate Dividend tax |
6.149 |
3.187 |
2.124 |
|
|
BALANCE CARRIED
TO THE B/S |
2.609 |
4.749 |
1.999 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
149.20 |
101.12 |
14.08 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
10.32
|
6.07 |
2.06 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
16.40
|
8.79 |
3.11 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.90
|
10.24 |
2.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.59
|
0.73 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.38
|
6.01 |
8.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.60
|
1.91 |
2.58 |
LOCAL AGENCY FURTHER INFORMATION
Financial
Performance:-
During the
financial year 2008-09, the company has achieved excellent financial performance
among last 9 years. Due to sufficient rain fall the availability of best
quality sugarcane and highest sugar recovery has played major role in improving
the overall financial strength and a highest record profit of Rs. 402.228
millions. The real achievement of the excellent financial performance is
because of the highest contribution in profit from Co-gen Power, Ferro Alloys
and Distillery / Ethanol Division. The unexpected and remarkable increase in
net profit, tax payment and general reserve is possible due to the highest
sugar recovery, maximum export of Sugar, Ferro Alloys and the lowest cost of
production of Sugar, Ferro Alloys and Alcohol supported by the strict financial
discipline and control.
Contingent
Liabilities:
Rs.
In Millions
|
a) |
Guarantee given by the company to pathsanstha/Banks for Motor Cycle and
Housing Loans to the employees. |
5.004 |
|
b) |
Statutory Minimum Price for Cane Purchase Price for the Season
2002-2003 |
8.621 |
|
c) |
Guarantee given to the Banks for advances to H and T. Contractors and
Bullock cart and Tractor contractor outstanding amount |
-- |
|
d) |
Guarantees given to and by the bank on furnishing counter guarantees by
Company. |
-- |
|
|
For obtaining short term loan for payment of Statutory Minimum Price |
6.873 |
|
e) |
Claims against Company not acknowledged as debts |
0.223 |
|
f) |
Erstwhile Lessor CS RSUL excise duty obligation @ 53.56 per qtl. Account
of conversion of free sugar to levy sugar. |
0.382 |
|
g) |
In respect of lessor JS S K Limited Rashin Following statutory
Liability not provided for as disputed |
0.073 |
|
h) |
Income Tax Matters |
|
|
|
I) Advance Tax payment and provision of tax is subject to completion of
assessment proceedings. |
- |
|
i) |
Contracts remaining to be executed for which agreements are entered
into. |
6.330 |
|
j) |
Foreign Exchange Difference (Steel Division) |
0.316 |
|
|
Expenses in foreign Exchange
2.974 |
|
|
|
Income in foreign Exchange
3.290 |
|
|
|
Net Income in Foreign Exchange
0.316 |
|
Form 8
|
Corporate
identity number (CIN) Foreign company registration number |
U99999MH1998PLC121048 |
|
Name of the
Company |
NATURAL SUGAR AND ALLIED INDUSTRIES LIMITED |
|
Address |
Ranjani, Tal. Kallam, District Osmanabad, |
|
This form is for |
Creation of
Charge |
|
Type of Charge |
Immovable
Property Charge on plant
and machinery |
|
Particulars of
the charge holder |
Industrial
Development Bank Of India Limited -
Latur Branch, Latur - 413512 , e-mail id: sanjeev.kum@idbi.co.in |
|
Nature or
description of the instrument(s) creating or modifying the charge |
1. Mortgage Deed. 2. Deed of
Continuing Guarantee. 3. Loan cum
Hypothecation Agreement. All the documents
creating a single charge. |
|
Date of the instrument
creating or modifying the charge |
09.10.2009 |
|
Amount secured by
the charge |
Rs.350.000
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
|
|
Short particulars
of the property charged (including location of the property) |
Mortgage of the
immovable properties of the company as situated at Ranjani Tal. Kallam Dist.
Osmanabad and as stated in the schedule annexed to the mortgage deed. |
Fixed Assets
As per web site details:
Profile:
Subject, is located
in a area of abundant raw material i.e. best quality sugar cane. Its operational
area is within 25 kms. having 50 villages only. Due to excess cane (high yield
sector) there was less demand and fewer prices to this cane. And thus no
demand, no price, frustrated the farmers. All these conditions necessitate the
strong will for installing of Subject. It is located at the 100% perennial area
of Manjara Dam, which is 15 kms below the dam location. The area within 20 kms
is irrigated by right and left cannals of Manjara Dam, right and left bank
river water and Raighavhan medium project. Hence, the availability of best
quality cane is assured even in the draught condition also.
Subject is a public
limited Company registered under Indian Company Act. 1956. It is the first
sugar plant completed in February 2000 in a shortest span of 9 months and at
the lowest cost of Rs.200.000 millions with the strong financial support from
farmer members by contributing 110.000 millions as share capital and Rs.90.000
millions as a term loan from The Vaidvanath Urban Co-Operative Bank Limted,
Parali Vaidyanath with other consortium bankers.
Within a
span of 10 years Subject has expanded its activities vertically and
horizontally, with following divisions in various products and activities.
a) Sugar
Division:
Prently crushing is 3500 TCD and yearly sugar production is around 8.00 lakhs
qtls., with average sugar recovery 12.50%
b) Co-Generation
of Power:
Totally 9 MW power is generated out of which 4 MW is used for captive
consumption of sugar production and 5 MW is exported to the Ferro Alloys Division.
c) Ferro Alloys
(Steel) Division :
With the surplus power of 5 MW generated by Co-generation plant as by- product
of sugar, they have installed Ferro Alloys plant for value addition to the
power generated by them. At present they have two sub-merged-arc furnaces
having 6 MVA capacity of each. One furnace is run on the ow generated power and
another Furnace is run on the power purchased from Maharashtra State
Electricity Board. Ferro Alloys unit is a unique and the only combination of
by-products in sugar industry.
d) Distillery
Division
To utilize another Bio-product of sugar i.e. Molasses, they have installed
30,000 ltrs. capacity Distillery Plant of most modern technology with fully
atomization in 2007 to process the molasses and manufacturer Alcohol and other
products. The yearly production capacity of the plant is 90.00 lakhs liters of
Rectified Spirit and Ethanol each.
e) Bio-Compost Production Plant:
With the main object of zero pollution, they have installed a bio-compost plant
in which 100% spent wash which is a hazards waste of Distillery Plant is
processed with press-mud with most advanced technology of Bio-Compost process.
They are producing 25,000 MT of Bio-Compost per year and distributing to the
farmers at very concessional rates. With this project they are trying to reduce
the use of chemical fertilizers and improving the soil conditions by using
Natural Bio Fertilizers.
f) Sugar Refinery
Division:
Recently they have installed a Sugar Refinery of 250 MT per day capacity for manufacturing
Refine Sugar of 45 ICUMSA which will be sulphur free and 100% pure sugar. It is
a 1st plant of its nature in
g) Milk
Processing Project:
To have an additional income to the farmer, they have decided to go far Dairy
Project, which will help to every poor man for his better livelihood. The
capacity of this project will be 50,000 liters per day. This will benefit more
than 5000 farmers. Required funds will be made available to farmers from
various banks.
h) Software
Division
They are using computers systems since inception. In order to develop a
suitable software for Sugar Factories with reasonable prices they have
established a separate Software division. This division is developeing various
types of software maily for Sugar Industry
i) BCS and BCA
college.
Technical education is necessity of society. But students from rural area can
not afford educational expenses at city. To over come this problem and provide
a opportunity of education to the rural students they have opened BCS and BCA
college. The college is equipped with High quality hardware. Experienced and
devoted staff is educating students.
With
above activities in various fields following are the special achievements in
sugar Industry for projection of environment and natural resources.
a) Environmental
protection:
To control water pollution, they have installed diffused aeration system of the
German technology and strictly supported to achieve the required the norms of
the MPC Board. The treated water is used exclusively for agriculture purpose.
MDH fly ash arrestor for boiler chimney, which has 100% efficiency for
arresting the fly ash, prevents the air pollution. The collected ash is used to
increase the puriosity of Press-mud instead of Bagasse, which is resulted in
saving of bagasse and value added waste as compost to the farmers.
b) Water
Conservation:
As the
c)
Computerization ERP System:
The working is fully computerized and is connected with ERP system through
network. All the departments are well equipped and interlinked with computer
system hence, they have the strength only 300 permanent and 150 seasonal
workers and officers those are highly qualified and adequately experienced for
all above seven divisions.
d) ISO-9001-2000:
Subject is a ISO 9001-2000 Company by the Quality Assurance Services of
Australia. The ISO 9001 -2000 norms are strictly observed and implemented in
day-to-day working of the Company. The implementation of ISO 0001-2000 has
drastically improved the performance, the quality and efficiency of the
Company.
Awards for Company and its Chairman
and Managing Director
Various national and
international organization have taken note of the extra ordinary working of the
Company and the Chairman and Managing Director and have awarded following awards
fore excellence in performance, achievements in sugar industry and social work.
Marathwada Udyog Ratan Award”
presented by International Marathi Chamber of Commerce and Industries at
“Rashtriya Udyog Ratan Award”
presented by International Economic Development Council and Priyadarshini
Loknyas,
“Indira Gandhi Sadbhavana Award”
Presented by Global Economic Council,
“Bharatiya Udyog Ratan Award”
presented by Indian Economic Development and Research Association (IEDRA)
“Year 2004 Rotary Award ”
presented by Rotary Club of Latur Metro on 02.11.2004.
“Year 2006-07 Wayvasaik
Utkrushthata Puraskar” Presented by Rotary Club of Pune Metero on 12.06.2007
“Latur Gaurav Pursakar” on
occasion of silver jubilee of Latur District for outstanding work done for the
industrial development of Latur District on 16.01.2008.
“Krushi Udhogratna Maratha Samaj
Bhushan Pursakar” presented by Maratha Seva Sangh, Maharashtra Rajya at Latur
on 01.09.2008.
“Chhatrapati Sambhaji Maharaj
Rashitray Pursakar” presented by Sambhaji Briged, 5th Mahadhiveshan,
Maharashtra Rajya, Nanded on 30.11.2008.
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.62.13 |
|
|
1 |
Rs.101.53 |
|
Euro |
1 |
Rs.85.41 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.