MIRA INFORM REPORT

 

 

Report Date :

23.03.2013

 

IDENTIFICATION DETAILS

 

Name :

CENTURY TEXTILE AND INDUSTRIES LIMITED

                           

MAIHAR CEMENT – A DIVISION OF CENTURY TEXTILE AND INDUSTRIES LIMITED

 

 

Registered Office :

‘Century Bhavan’, Dr. Annie Besant Road, Worli, Mumbai – 400025, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

20.10.1897

 

 

Com. Reg. No.:

11-000163

 

 

Capital Investment / Paid-up Capital :

Rs.930.400 Millions

 

 

CIN No.:

[Company Identification No.]

L17120MH1897PLC000163

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMC10668A

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchange.

 

 

Line of Business :

Manufacturer and Trader of Cotton Yarn that used for manufacturing of Cotton Fabrics.

 

 

No. of Employees :

12672 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A (64) 

 

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 76000000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is an old and well established reputed company having good track record. The company is a trendsetter in cotton textiles. Financial position of the company appears to be strong. There appears a huge dip in the profitability of the company during the year 2012 in view of adverse market conditions.

 

However, trade relations are reported as praiseworthy. Business is active. Payments are reported to be regular and as per commitments.

 

The company can be considered good 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 – 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

CARE

Rating

AA- (Long Term Bank Facility)

Rating Explanation

Having high degree of safety regarding timely servicing of financial obligation it carry very low credit risk.

Date

September 2012

 

 

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/ Corporate Office :

‘Century Bhavan’, Dr. Annie Besant Road, Worli, Mumbai – 400025, Maharashtra, India

Tel. No.:

91-22-24957000

Fax No.:

91-22-24309491/24361980

E-Mail :

atulkedia@centurytext.com

centextho@centurytext.com

Website :

http://www.centurytext.com

 

 

Corporate Office:

CENTURY RAYON

Industry House, 159, Churchgate Reclamation, Mumbai – 400020, Maharashtra, India

Tel No.: 91-22-22027570

 

 

Factory :

BIRLA CENTURY

Plot No. 826, GIDC Industrial Estate, Jhagadia - 393 110, District Bharuch, Gujarat, India

 

CENTURY RAYON

Rayon, Tyre Cord and Chemical Plants, Murbad Road, Kalyan - 421 103, Maharashtra, India

 

CENRAY MINERALS AND CHEMICALS

Nawa Nagna, Jamnagar - 361 007, Gujarat, India

 

CENTURY CEMENT

P.O. Baikunth - 493 116, District Raipur, Chhattisgarh, India

 

MAIHAR CEMENT UNITS I and II

P.O. Sarlanagar - 485 772, Maihar, District Satna, Madhya Pradesh, India

 

MANIKGARH CEMENT

P.O. Gadchandur - 442 908, District Chandrapur, (Maharashtra)

 

CENTURY PULP AND PAPER

Ghanshyamdham, P.O. Lalkua - 262 402, District Nainital, Uttarakhand, India

 

CENTURY YARN

CENTURY DENIM

Village and Post Satrati, Tehsil – Kasrawad, District Khargone - 451 660, Madhya Pradesh, India

Tel. No.: 91-7285-255277/ 255281/ 82/ 83/ 84

Fax No.: 91-7285-255305

 

 

DIRECTORS

 

As on: 31.03.2012

 

Name :

Mr. B.K. Birla

Designation :

Chairman

 

 

Name :

Mr. Kumar Mangalam Birla

Designation :

Director

 

 

Name :

Mr. Pradip Kumar Daga

Designation :

Director

 

 

Name :

Mr. Arvind C. Dalal

Designation :

Director

 

 

Name :

Mr. Amal Ganguli

Designation :

Director

 

 

Name :

Mr. B. L. Jain

Designation :

Whole Time Director 

 

 

KEY EXECUTIVES

 

TEXTILE

CENTURY TEXTILES

BIRLA CENTURY, CENTURY YARN AND DENIM :

Name :

Mr. R.K. Dalmia

Designation :

Senior President

 

 

Name :

Mr. D.K. Agrawal

Designation :

President (Corporate Finance) and Secretary

 

 

Name :

Mr. U.C. Garg

Designation :

Executive President (Purchase and Projects)

 

 

Name :

Mr. R.C. Panwar

Designation :

Joint President (Marketing)

 

 

Name :

Mr. Sanjay Khimesra

Designation :

Joint President (Birla Century)

 

 

RAYON

CENTURY RAYON, TYRECORD AND CHEMICALS:

Name :

Mr. O.R. Chitlange

Designation :

Senior President

 

 

Name :

Mr. R. Lalwani

Designation :

President (Commercial)

 

 

Name :

Mr. S.M. Sanklecha

Designation :

Joint President (Purchase)

 

 

Name :

Mr. S.K. Mital

Designation :

Joint President (Engineering Services and Auxiliaries)

 

 

Name :

Mr. Subodh Dave

Designation :

Senior Vice President (Personnel and Administration)

 

 

Name :

Mr. Apurva Gupta

Designation :

Senior Vice President (Rayon and Development)

 

 

Name :

Mr. V.K. Jhingon

Designation :

Senior Vice President (Tyre Cord and CSY)

 

 

Name :

Mr. Sudhir Luthra

Designation :

Senior Vice President (Chemicals)

 

 

Name :

Mr. B. Manmohan

Designation :

Vice President (Finance)

 

 

Name :

Mr. Arun Jhawar

Designation :

Vice President (Marketing)

 

 

CEMENT

CENTURY, MAIHAR, MANIKGARH AND SONAR BANGLA CEMENTS:

Name :

Mr. B.L. Jain

Designation :

Senior President

 

 

CENTURY CEMENT AND SONAR BANGLA CEMENT:

Name :

Mr. Alok Patni

Designation :

President (Works)

 

 

Name :

Mr. Vijay Kumar

Designation :

Joint President (Plant)

 

 

Name :

Mr. M.K. Jain

Designation :

Senior Vice President (Purchase)

 

 

Name :

Mr. A.K. Panja

Designation :

Senior Vice President (Commercial)

 

 

Name :

Mr. Satish Gurtoo

Designation :

Senior Vice President (Electrical and Instt.)

 

 

Name :

Mr. Arun Gaur

Designation :

Senior Vice President (Finance)

 

 

Name :

Mr. C.S. Vithalkar

Designation :

Vice President (Mechanical)

 

 

Name :

Mr. A.K. Biswas

Designation :

Vice President (Project)

 

 

Name :

Mr. A.K. Bajpai

Designation :

Vice President (Marketing)

 

 

Name :

Mr. B. P. Mishra

Designation :

Vice President (Mines)

 

 

MAIHAR CEMENT UNITS I AND II:

UNIT I:

 

Name :

Mr. R.K. Vaishnavi

Designation :

President (Works)

 

 

Name :

Mr. P. M. Intodia

Designation :

Executive President (Marketing)

 

 

Name :

Mr. Nand Kumar E.

Designation :

Joint President (Electrical, Instrumentation and Development)

 

 

Name :

Mr. Arvind Kumar Jain

Designation :

Senior Vice President (Mechanical)

 

 

Name :

Mr. Manoj Gupta

Designation :

Senior Vice President (Finance)

 

 

Name :

Mr. Ajai Kumar Jain

Designation :

Vice President (Production)

 

 

Name :

Mr. R. Deshpande

Designation :

Vice President (Purchase)

 

 

UNIT II

 

Name :

Mr. R.S. Doshi

Designation :

Executive President (Commercial)

 

 

Name :

Mr. S. K. Tewari

Designation :

Joint President (Mines and Projects)

 

 

Name :

Mr. Ashok Maheshwari

Designation :

Senior Vice President (Commercial)

 

 

Name :

Mr. P.K. Agarwal

Designation :

Senior Vice President (Purchase)

 

 

Name :

Mr. A.S. Thakur

Designation :

Vice President (Materials and Systems)

 

 

Name :

Mr. J. P. Pandey

Designation :

Vice President (Mechanical)

 

 

Name :

Mr. S. K. Singh 

Designation :

Vice President (Personnel)

 

 

MANIKGARH CEMENT UNITS I AND II

UNIT I

 

 

Name :

Mr. P.S. Bakshi

Designation :

President (Works)

 

 

Name :

Mr. S.K. Mandelia

Designation :

Executive President (Commercial)

 

 

Name :

Mr. A.D. Karwa

Designation :

Executive President (Finance and Marketing)

 

 

Name :

Mr. R.K. Udge

Designation :

Senior Vice President (Mines)

 

 

Name :

Mr. M. P. Joshi

Designation :

Senior Vice President (Electrical and Instrumentation)

 

 

Name :

Mr. A.K. Jain

Designation :

Senior Vice President (Mechanical)

 

 

Name :

Mr. Kiran Sharma

Designation :

Vice President (Generation)

 

 

Name :

Mr. Deepal Jaisinghni

Designation :

Vice President (Mechanical)

 

 

UNIT II

 

Name :

Mr. J. L. Tiwari

Designation :

Senior Executive President (Plant)

 

 

Name :

Mr. O. P. Moondra

Designation :

Senior Vice President (Electrical and Instrumentation)

 

 

Name :

Mr. N. D. Hemke

Designation :

Senior Vice President (Mechanical)

 

 

Name :

Mr. E. V. Ravikumar

Designation :

Vice President (Finance)

 

 

Name :

Mr. V. K. Sharma

Designation :

Vice President (Mechanical)

 

 

Name :

Mr. P. K. Bajaj

Designation :

Vice President (Commercial)

 

 

PAPER:

CENTURY PULP AND PAPER:

 

 

Name :

Mr. Ashwani Kumar Sharma

Designation :

CEO and Senior President

 

 

Name :

Mr. Manjit Singh

Designation :

Plant Head

 

 

Name :

Mr. A. K. Bhatia

Designation :

Joint President (Commercial)

 

 

Name :

Mr. Pawan Mehra

Designation :

Chief Sourcing Officer

 

 

Name :

Mr. Rakesh Nangia

Designation :

Chief Marketing Officer

 

 

Name :

Mr. Hirendra Goyal

Designation :

Head of Engineering

 

 

Name :

Mr. Jagdeep Hira

Designation :

Head of Process

 

 

Name :

Mr. R.K. Sharma

Designation :

Senior Vice President (Engineering)

 

 

Name :

Mr. S.L. Sharma

Designation :

Vice President (Commercial)

 

 

Name :

Mr. S.K. Agarwal

Designation :

Vice President (RGP and ENV)

 

 

SALT

CENRAY MINERALS AND CHEMICALS:

 

Name :

Mr. M.M. Sand

Designation :

Vice President (Salt Works)

 

 

SHAREHOLDING PATTERN

 

As on: 31.12.2012

 

Category of Shareholder

Total No. of Shares

Total Shareholding as a % of total No. of Shares

(A) Shareholding of Promoter and Promoter Group

 

 

http://www.bseindia.com/include/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/include/images/clear.gifIndividuals / Hindu Undivided Family

210470

0.23

http://www.bseindia.com/include/images/clear.gifBodies Corporate

37358910

40.29

http://www.bseindia.com/include/images/clear.gifSub Total

37569380

40.51

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

Total shareholding of Promoter and Promoter Group (A)

37569380

40.51

(B) Public Shareholding

 

 

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gifMutual Funds / UTI

9879994

10.65

http://www.bseindia.com/include/images/clear.gifFinancial Institutions / Banks

3808201

4.11

http://www.bseindia.com/include/images/clear.gifCentral Government / State Government(s)

2580

0.00

http://www.bseindia.com/include/images/clear.gifInsurance Companies

2327469

2.51

http://www.bseindia.com/include/images/clear.gifForeign Institutional Investors

8550347

9.22

http://www.bseindia.com/include/images/clear.gifSub Total

24568591

26.49

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

9390601

10.13

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital up to Rs. 1 lakh

15886367

17.13

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital in excess of Rs. 1 lakh

3988009

4.30

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

1330632

1.43

http://www.bseindia.com/include/images/clear.gifClearing Members

214237

0.23

http://www.bseindia.com/include/images/clear.gifNon Resident Indians

647268

0.70

http://www.bseindia.com/include/images/clear.gifOverseas Corporate Bodies

365820

0.39

http://www.bseindia.com/include/images/clear.gifTrusts

102039

0.11

http://www.bseindia.com/include/images/clear.gifForeign Nationals

388

0.00

http://www.bseindia.com/include/images/clear.gifDirectors & their Relatives & Friends

880

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

30595609

32.99

Total Public shareholding (B)

55164200

59.49

Total (A)+(B)

92733580

100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued

0

0.00

http://www.bseindia.com/include/images/clear.gif(1) Promoter and Promoter Group

0

0.00

http://www.bseindia.com/include/images/clear.gif(2) Public

312100

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

312100

0.00

Total (A)+(B)+(C)

93045680

0.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Trader of Cotton Yarn that used for manufacturing of Cotton Fabrics.

 

 

Products :

Products Description

Item Code No.

 

Other Grey Portland Cement

252329

Paper

480200

Viscose Filament Yarn

540332

 

PRODUCTION STATUS (AS ON 31.03.2012)

 

Particulars

 

Unit

Production

 

 

 

Electricity (KWH)

 

 

Cotton Fabrics

Per 1000 Sq. Mtrs.

2038.00

Cotton Yarn (M.P.)

Per 100 Kgs.

526.80

Denim Fabrics

Per 1000 Sq. Mtrs.

1568.69

Rayon Yarn

M.T.

4324.54

CSY (Continuous Spg. Yarn)

M.T.

5099.40

Tyre Yarn/Fabric/Fibre

M.T.

3542.14

Caustic Soda

M.T.

2627.11

Carbon-di-sulphide

M.T.

1080.23

Sulphuric Acid

M.T.

47.89

Cement

M.T.

78.43

Paper

M.T.

1262.00

 

 

 

2. Furnace Oil / Diesel Oil (M.T.)

 

 

Cotton Fabrics

Per 1000 Sq. Mtrs.

--

Denim Fabrics

Per 1000 Sq. Mtrs.

0.143

Rayon Yarn

M.T.

--

CSY (Continuous Spg. Yarn)

M.T.

--

Tyre Yarn/Fibre

M.T.

--

Paper

M.T.

0.022

Cement

M.T.

--

 

 

 

3. Coal - B, C, D & E Grades (M.T.)

 

 

Rayon Yarn

M.T.

3.817

CSY (Continuous Spg. Yarn)

M.T.

8.387

Tyre Yarn/Fibre

M.T.

4.141

Cement

M.T.

0.113

Paper

M.T.

0.702

 

 

 

4. Coal for Producer Gas (Grade B,C & E) (M.T.)

 

 

Paper

M.T

0.084

 

 

 

5. LP Gas (MT)

 

 

Paper

M.T

0.005

 

NOTE:

 

(a) Minor variations.

(b) Due to energy conservation.

(c) Due to increase in production.

(d) Due to change in denier mix/market mix.

 

 

GENERAL INFORMATION

 

No. of Employees :

12672 (Approximately)

 

 

Bankers :

·         State Bank of India,

Madame Cama Road, Mumbai – 400 021, Maharashtra, India

 

·         Bank of India

·         Bank of Baroda

·         State Bank of Hyderabad

·         Allahabad Bank

·         Union Bank of India

·         IDBI Bank

·         Dena Bank

·         Syndicate Bank

·         Bank of Tranvancore

·         IndusInd Bank

·         State Bank of Mysore

·         ICICI Bank

·         State Bank of Bikaner and Jaipur

 

 

Facilities :

Secured Loans

31.03.2012

31.03.2011

 

 

(Rs. In Millions)

Term Loans from Banks - Secured

 

 

Term Loan from State Bank of India

2333.000

2999.800

Term Loan from Bank of Baroda

372.000

600.000

Term Loan from State Bank of Hyderabad

211.000

325.000

Term Loan from Allahabad Bank

211.000

325.000

Term Loan from Union Bank of India

908.400

1174.800

Term Loan from IDBI Bank

372.000

600.000

Term Loan from Dena Bank

646.200

--

Term Loan from Syndicate Bank

623.100

--

Term Loan from State Bank of Tranvancore

530.700

--

Term Loan from State Bank of India

3500.000

--

Term Loan from IndusInd Bank

865.900

834.200

Term Loan from State Bank of India

750.000

--

Term Loan from Bank of Baroda

150.000

--

Term Loan from State Bank of Hyderabad

150.000

--

Term Loan from Allahabad Bank

150.000

--

Term Loan from Union Bank of India

150.000

--

Term Loan from State Bank of Mysore

150.000

--

Term Loan from IndusInd Bank

1000.000

--

Term Loan from State Bank of India

0.000

1500.000

Term Loan from ICICI Bank

3750.000

--

TUF Loan from State Bank of India

175.000

335.000

TUF Loan from State Bank of Patiala

106.500

153.800

TUF Loan from State Bank of India

12.500

21.900

TUF Loan from State Bank of India

49.900

56.700

TUF Loan from State Bank of India

1405.700

1874.300

TUF Loan from State Bank of India

15.600

23.700

TUF Loan from State Bank of India

346.800

462.000

TUF Loan from State Bank of India

150.000

200.000

TUF Loan from State Bank of Mysore

321.400

428.600

TUF Loan from State Bank of Hyderabad

214.300

285.700

TUF Loan from State Bank of Bikaner and Jaipur

150.000

200.000

Working capital loans from banks

6890.900

4709.800

 

 

 

Total

 

26661.900

17110.300

 

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Dalal and Shah

Chartered Accountants

Address :

Mumbai, Maharashtra, India

 

 

Related Parties :

·         Pilani Investment and Industries Corporation Limited

·         Kesoram Insurance Broking Services Limited

·         Vasavadatta Services Limited

·         Industry House Limited

·         Bander Coal Company Private Limited

·         Kesoram Industries Limited

·         Century Enka Limited

·         Jayshree Tea and Industries Limited

 

 

CAPITAL STRUCTURE

 

As on: 31.03.2012

 

Authorized Capital :

 

No. of Shares

Type

Value

Amount

 

 

 

 

148000000

Equity Shares

Rs.10/- each

Rs.1480.000 Millions

10000000

Redeemable Cumulative Non-Convertible Preferences Shares 

Rs.100/- each

Rs.1000.000 Millions

 

 

 

 

 

Total

 

Rs.2480.000 Millions

 

Issued Capital :

 

No. of Shares

Type

Value

Amount

 

 

 

 

93061090

Equity Shares

Rs.10/- each

Rs.930.600 Millions

 

 

 

 

 

Subscribed & Paid-up Capital:

 

No. of Shares

Type

Value

Amount

 

 

 

 

93045680

Equity Shares

(The Company has only one class of equity share. Each shareholder is eligible for one vote per share. The dividend proposed by the Board is subject to the approval of shareholders except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts in proportion to their shareholding.)

Rs.10/- each

Rs.930.400 Millions

 

 

 

 

 

 

 

 

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

930.400

930.400

930.400

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

18058.800

18600.600

16821.600

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

18989.200

19531.000

17752.000

LOAN FUNDS

 

 

 

1] Secured Loans

26661.900

17110.300

17611.200

2] Unsecured Loans

7557.100

9104.900

6056.700

TOTAL BORROWING

34219.000

26215.200

23667.900

DEFERRED TAX LIABILITIES

2627.400

2639.400

2513.400

 

 

 

 

TOTAL

55835.600

48385.600

43933.300

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

41092.000

23998.900

24843.700

Capital work-in-progress

11119.200

19975.800

12873.800

 

 

 

 

INVESTMENT

713.500

683.600

584.300

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
10952.400
10706.600
8685.100

 

Sundry Debtors
3334.500
3071.500
2251.100

 

Cash & Bank Balances
500.900
406.400
574.100

 

Other Current Assets
339.700
360.200
320.200

 

Loans & Advances
4868.900
4674.200
7510.100

Total Current Assets
19996.400
19218.900
19340.600

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditor
3116.700
4117.400
8074.300

 

Other Current Liabilities
9893.200
7813.900
171.700

 

Provisions
4075.600
3560.300
5525.300

Total Current Liabilities
17085.500
15491.600
13771.300

Net Current Assets
2910.900
3727.300
5569.300

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

62.200

 

 

 

 

TOTAL

55835.600

48385.600

43933.300

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2012

31.03.2011

31.03.2010

 

SALES

 

 

 

 

 

Income

48727.800

47600.300

44529.000

 

 

Other Income

271.800

420.400

946.700

 

 

TOTAL                                     (A)

48999.600

48020.700

45475.700

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

15687.800

15768.500

 

 

Purchase of stock-in-trade

375.800

183.200

 

 

 

Changes in Inventories of Finished Goods, Work-in-progress and Stock-in-trade

(431.500)

(336.100)

36890.400

 

 

Employee Benefits Expenses 

4247.200

3620.700

 

 

 

Expenditure Transferred to Capital Account

(192.300)

(112.700)

 

 

 

Other Expenses

24785.100

21885.800

 

 

 

TOTAL                                     (B)

44472.100

41009.400

36890.400

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

4527.500

7011.300

8585.300

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

1720.800

1182.700

1005.300

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

2806.700

5828.600

7580.000

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

2581.200

2396.600

2344.700

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

225.500

3432.000

5235.300

 

 

 

 

 

Less

TAX                                                                  (H)

4.200

1057.100

1673.700

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

221.300

2374.900

3561.600

 

 

 

 

 

Add/ Less

Short Provision for tax adjustments in respect of earlier years ( Net )

--

--

(165.000)

 

Prior Period Adjustments (Net)

--

--

(1.900)

Less/ Add

Installment of Arrears of Depreciation

--

--

0.000

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

--

--

1781.000

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Transfer to General Reserve

--

--

1500.000

 

 

Dividend

--

--

511.800

 

 

Tax on Dividend

--

--

85.000

 

BALANCE CARRIED TO THE B/S

--

--

3078.900

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

2960.800

2882.200

2374.000

 

 

Dividend

1.000

0.600

0.600

 

 

Sale proceeds of assets

0.000

0.000

37.400

 

 

Others

6.400

1.700

0.000

 

TOTAL EARNINGS

2968.200

2884.500

2412.000

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

2539.700

1984.000

2389.900

 

 

Stores & Spares

423.400

441.700

294.500

 

 

Capital Goods

1039.100

1016.200

6012.900

 

TOTAL IMPORTS

4002.200

3441.900

8697.300

 

 

 

 

 

 

Earnings Per Share (Rs.)

2.38

25.52

36.48

 

QUARTERLY RESULTS

 

PARTICULARS

 

30.06.2012

30.09.2012

31.12.2012

 

1st Quarter

2nd Quarter

3rd Quarter

Net Sales

13886.800

14308.800

15201.100

Total Expenditure

12262.600

12934.900

14050.300

PBIDT (Excl OI)

1624.200

1373.900

1150.800

Other Income

60.700

86.400

76.300

Operating Profit

1684.900

1460.300

1227.100

Interest

807.200

837.600

825.800

Exceptional Items

0.000

0.000

0.000

PBDT

877.700

622.700

401.300

Depreciation

853.600

939.300

873.200

Profit Before Tax

24.100

(316.600)

(471.900)

Tax

0.000

(60.000)

(180.000)

Provisions and contingencies

0.000

0.000

0.000

Profit After Tax

24.100

(256.600)

(291.900)

Extraordinary Items

0.000

0.000

0.000

Prior Period Expenses

0.000

0.000

0.000

Other Adjustments

0.000

0.000

0.000

Net Profit

24.100

(256.600)

(291.900)

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2012

31.03.2011

31.03.2010

PAT / Total Income

(%)
0.45
4.95

7.83

 

 
 
 

 

Net Profit Margin

(PBT/Sales)

(%)
0.46
7.21

11.75

 

 
 
 

 

Return on Total Assets

(PBT/Total Assets}

(%)
0.37
7.94

11.85

 

 
 
 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.01
0.18

0.29

 

 
 
 

 

Debt Equity Ratio

(Total Debt/Networth)

 
1.80
1.34

1.33

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
1.17
1.24

1.40

 

 

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

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

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

No

31]

Date of Birth of Proprietor/Partner/Director, if available

No

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

 

 

EXPORTS:

 

The total exports of the Company amounted to Rs.3670.000 Millions (Previous year Rs.3660.000 Millions) representing about 8 percent of the net sales.

 

 

EXPANSION AND MODERNISATION:

 

A) CEMENT

 

At Sonar Bangla Cement, extensive piling work on account of soil conditions was carried out and 80% of the civil work has been completed. Poor road conditions have resulted in longer lead times for inland transportation of over dimensional cargo. Erection of the wagon tippler, cement mill, packing plant and 132 KV sub-station has started. Heavy absenteeism and non-availability of the required numbers of skilled labour in north Bengal have caused delays in the progress of civil / mechanical work.

 

Civil work for Manikgarh Cement Unit-II has started, but it faces various challenging conditions such as delays in getting forest clearance, rocky terrain and the need to cut through hilly topography for installing the pipe conveyor and building civil structures, which have affected adversely the finalization of drawings for necessary plant site arrangements.

 

The Sonar Bangla Cement Grinding Unit and Manikgarh Cement Unit II are expected to be operational by March, and September 2013 respectively.

 

After expansion, the Company’s total cement manufacturing capacity will stand increased to 12.8 million tonnes per annum.

 

 

B) PULP AND PAPER

 

The Fibre Line (Pulp Plant) with a capacity of 1.62 lac tonnes per annum and Multilayer Packaging Board Plant with a capacity of 1.8 lac tonnes per annum at Lalkua, Nainital (Uttarakhand) have started production and the quality of the production at each facility is expected to be stabilized in course of time. Further, the 43 M.W. turbine is also now in operation.

 

The up gradation of the paper machine based on recycled pulp is in progress. The installation of the A-4 cutter for copier paper has been completed. Orders have been placed for the necessary plant and machinery to increase the bagasse pulping capacity by 23,400 tonnes per annum by installing a continuous digester and carrying out modifications in the existing plant and the work is likely to be completed before the end of the current financial year.

 

 

C) GENERAL

 

Modernisation and technological upgradation programmes continue at all the units of the Company to maintain competitiveness and achieve better quality. Stringent cost control measures remain in place in all possible areas and are regularly reviewed.

 

 

GENERAL – AWARDS, SPORTS and WELFARE ACTIVITIES:

 

Various Divisions of the Company have received awards for environmental excellence, efficiency in energy consumption, providing a safe working environment etc. Some notable awards are mentioned below:-

 

A) RAYON, TYRECORD AND CHEMICALS

 

The Unit’s Quality Circle “Swastik” has won the ‘Par Excellence’ Award and “Progressive” has won the “Excellence’ award in the National Convention for Quality Concepts – 2011 held at Secunderabad in December, 2011.

 

2 students of the Century School were the Mega Prize winners in Navneet Art Competition.

 

Birla School has obtained ISO 9001-2008 Certification and is in the process of obtaining NABET Accreditation.

 

Birla College of Arts, Science and Commerce, Kalyan won the IMC Ramkrishna Bajaj National Quality (IMC RBNQ Performance Excellence) Awards 2011 in Education.

 

 

B) CENTURY CEMENT:

 

First prize for “Overall Performance”, “Standard of Working”, “Publicity and Propaganda” and “Use of Explosives” for the limestone mines from the Director General of Mines Safety, Bilaspur and Raigarh Region.

 

First prize for “Water Quality Management” for the limestone mines, from Indian Bureau of Mines, Nagpur Region (Chhattisgarh State).

 

Federation of Indian Mineral Industries (FIMI)’s National Environment Award (Gem Granite Environment Award) for the year 2010-11 for the limestone mines.

 

Six students of our school (2 each in basketball & football and 1 each in netball & volleyball) had participated in national tournaments. One of them, received the silver medal in netball and another has been selected for trials for the selection of the Indian team in basketball.

 

 

C) MAIHAR CEMENT:

 

First prize for “Standard of Workings”, “Electrical Installations and Ore Handling Plant” and “Fire Safety Provision and Organisation” etc. for the limestone mines, from the Director General of Mines Safety, Jabalpur Region.

 

First prize for “Afforestation” and “Air Quality Management” for the limestone mines, from Indian Bureau of Mines, Jabalpur Region.

 

Miss Gyanshri Shukla and Miss Nadira Beig Siddiqui, students of class VI and VIII respectively of the school received the gold medals in the “Akhil Bhartiya Rashtra Bhasha Hindi Pratiyogita Pariksha” conducted by the “Mahatma Gandhi Rashtra Bhasha Hindi Prachar Sansthan, Pune”.

 

5 Students from our school (3 scouts and 2 guides) have been selected for the “Governor’s Award” during the academic session 2011-12.

 

Miss Anika Tripathi, a student of our school has been selected for the National Level Girls Cricket Competition.

 

 

C) MANIKGARH CEMENT:

 

First Prize for “Injury Rate Performance” and “Explosives” for the limestone mines, from Directorate General of Mines Safety, Western Zone, Nagpur Region.

 

First Prize for “Noise, Vibration Control and Aesthetic Beauty” for the limestone mines from Indian Bureau of Mines, Nagpur Region (Madhya Pradesh and Maharashtra States).

 

 “Gold Award” in the International Convention of Quality Circles held at Nagpur on the case study of “To Eliminate

Leakages in Gas Conditioning Tower”, “Frequent Failure of Carbon Brushes of Pre-Heater Fan HT Motor”, “Random Tripping of ESP Fan-2 DC Drive 1600 KW Motor Showing Mains Voltage Low Alarm”, “Elimination of Dust Generation during Loading of Dumpers” and “Failure of Thermo Well Inside Boiler Furnace”.

 

Best Team “Diamond Award” at the All India Seminar on Quality Progress 2012 organized by The Institute of Engineers (India), Nagpur.

 

 “Excellence Award” in the “25th National Convention on Quality Circles” organized by Quality Circle Forum of India, Hyderabad.

 

 

E) PULP AND PAPER:

 

The unit’s stall was adjudged first among the Agro-Forestry, Nursery, Herbal and Medicinal Plants Group at the All India Farmers’ Fair and Agro-Industrial Exhibition-2012 organized by G.B. Pant University of Agriculture and Technology, Pantnagar, Uttarakhand from March 15-18, 2012.

 

The unit has bagged the Certificate of Export Recognition, a ‘Special Export Award’ in recognition of achievement in export in respect of Printing and Writing Paper for the year 2010-11, by CAPEXIL (Sponsored by the Ministry of Commerce and Industry, Govt. of India), in the Annual Award Function held at Mumbai on 30th September, 2011.

 

 

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

 

OVERALL REVIEW:

 

The profitability of the Company, after providing for interest, has suffered a severe set back because of continuing increases in input costs, the global economic slow down, lack of adequate demand due to high inflation and other reasons, fierce competition and high interest costs. The circumstances prevailing in each of the business segments of the Company are separately discussed hereunder. Efforts to improve the performance of the Company are continuing.

 

 

BUSINESS SEGMENT – TEXTILES

 

(COTTON FABRICS AND DENIM CLOTH, YARN, VISCOSE FILAMENT YARN AND TYRE YARN)

 

INDUSTRY STRUCTURE AND DEVELOPMENT:

 

The Indian textile industry has witnessed a year confronting many challenges including sluggish demand in domestic and export markets. Cotton prices reached at an all time high followed by a phase of correction. This left various mills with high cost inventories causing heavy losses as the selling prices of fabrics did not improve. There has been a persistent slowdown in the global demand for yarn, denim and ready- to- wear garments resulting in higher inventories. Textile products from Bangladesh permitted to be imported duty free are cheaper and have flooded the markets, pushing out Indian products with prices that cannot compete. The Indian textile industry is thus passing through an adverse phase although the future would be more optimistic if input costs, including the cost of raw material and interest, could remain generally stable.

 

OUTLOOK:

 

The Birla Century textile unit has a competitive edge in terms of quality, design and innovative products. The unit continues to explore new markets which will help its growth, both in India and internationally.

 

 

CENTURY RAYON – VISCOSE FILAMENT YARN (VFY), CONTINUOUS SPUN YARN (CSY) AND RAYON TYRE YARN.

 

INDUSTRY STRUCTURE AND DEVELOPMENT:

 

Demand for VFY remained stable during the year but the industry in general, in both the PSY and CSY segments, faced pressure on off-take due to substantial arrivals from China, coupled with inroads made by polyester yarn into some of the sectors hitherto dominated by VFY.

 

Cheap imports from China continue in large quantities in the form of doubled and twisted yarn and embroidery thread in addition to regular yarn. A review petition for imposition of anti dumping duty has been filed with the Government and it is expected that anti dumping duty on an ad-valorem basis may be imposed shortly.

 

While no new substantial manufacturing capacities are likely to be added in these segments, the unit has made marginal investment and installed additional 12 machines for manufacture of viscose filament yarn of about 900 tonnes per annum as per deniers produced. These are being used for manufacturing fine denier yarn which is preferred in the market.

 

In the recent budget, the Government has increased excise duty across the board by 2%. In the prevailing market conditions, we are making all efforts to pass on this burden to the consumers.

 

OUTLOOK:

 

In spite of the increase in costs, the working of the unit during the year ahead is expected to be stable due to improved demand for rayon tyre yarn and optimum capacity utilization of all machines, equipment and allied facilities.

 

If embroidery and double and twisted yarns emanating from China are brought under the purview of anti dumping duty or safeguard duty coupled with opening doors for export of VFY to Pakistan and as no addition to capacity is being undertaken outside India, according to available information, the outlook of the industry may be considered to be positive.

 

 

BUSINESS SEGMENT – CEMENT (CEMENT AND CLINKER)

 

INDUSTRY STRUCTURE AND DEVELOPMENT:

 

India is the second biggest cement producing nation after China with an installed capacity of about 300 million tonnes per annum (tpa). The industry holds a significant place in the national economy because of its strong linkages to various sectors such as construction, transportation, coal and power. It is also one of the major contributors to the exchequer by way of direct and indirect taxes.

 

During the year 2011-12, industrial production slowed in the country and GDP is expected to grow by about 6.90% compared to 8.40% achieved in the year 2010-11.

 

The Indian cement industry witnessed subdued growth in demand of 6.50% in the year 2011-12. The weakness was caused primarily by lower infrastructure spending, slowdown in the realty sector due to high interest rates and an extended monsoon.

 

The industry has seen constant modernization and implementation of latest technologies during past few years. More than 90% of the total capacity is based on eco-friendly dry process technology.

 

 

OUTLOOK:

 

The economic outlook is expected to remain modest in spite of India’s strong fundamentals. Factors such as high domestic savings and investments, a rapid infrastructure development and urbanization all promise to a steadier economic scenario. Interest rates were at a peak during the year 2011-12 on account of RBI’s initiative to control inflation. The softening of the high interest regime should improve the prospects of the economy and growth. Long term prospects for growth in demand for cement are favourable riding on the back of strong economic fundamentals and the impetus provided to the housing and infrastructure construction activities in the 12th five year plan period (2012-17).

 

 

BUSINESS SEGMENT –PULP AND PAPER

 

(PULP, WRITING & PRINTING PAPER, TISSUE PAPER AND MULTILAYER PACKAGING BOARD)

 

INDUSTRY STRUCTURE AND DEVELOPMENT:

 

Being in the commodity sector, the paper industry is cyclical in nature and is strongly co-related with global economic factors. The balance between demand and supply at the domestic level is determined by the economic scenario in developed countries. However, demand for paper in India is growing at about 7-8% per annum primarily due to the focus of the Government on literacy. Accordingly, the industry should grow at a reasonable pace along with the economy.

 

OUTLOOK:

 

Long term outlook for writing and printing paper, tissue and packaging board appears to be good but increased input costs will adversely impact profitability in the near future.

 

 

UNSECURED LOANS

 

Particulars

 

31.03.2012

31.03.2011

 

 

(Rs. In Millions)

 

 

 

Fixed Deposits

543.400

534.700

Short Term Borrowings from Banks:

 

 

- Under buyers credit arrangement in foreign currency

6013.700

5120.200

- Rupee Loans

1000.000

1950.000

Commercial Paper

(Maximum balance outstanding during the year Rs.9750.000 Millions)

0.000

1500.000

 

 

 

Total

 

7557.100

9104.900

 

 

CONTINGENT LIABILITIES NOT PROVIDED FOR:

 

Particulars

 

31.03.2012

(Rs. in millions)

31.03.2011

(Rs. in millions)

 

 

 

(a) (i) Claims against the Company not acknowledged as debts in respect of :

 

 

- Custom Duty and Excise Duty

179.800

151.700

- Sales Tax and Entry Tax

944.600

404.900

- Power Charges

151.000

124.800

- Royalty

2815.200

2029.300

- Others

175.700

331.000

(ii) Claims not acknowledged as debts jointly with other members of "Business Consortium of Companies" in which the Company had an

interest (proportionate)

191.900

185.900

 

 

 

(b) Disputed income tax matters under appeal

131.800

117.100

 

 

 

(c) Registration and Road Tax on Dumper of Cement Division

Amount not determinable

 

 

 

(d) Liability on account of Jute packaging obligation upto 30th June, 1997 under the Jute Packaging Materials (Compulsory use in Packing Commodities) Act, 1987 -

Amount not determinable

 

 

 

(e) Guarantees given by Company's bankers [Guarantees have been given by the Company's bankers in the normal course of business and are not expected to result in any liability on the Company)

24.100

44.900

 

 

 

(f) Undertaking given by the company under concessional duty/ exemption scheme to government authorities (net obligation fulfilled)

6967.900

7464.200

 

 

UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER, 2012

(Rs. In Millions)

 

 

3 months

ended

31.12.2012

Preceding

3 months

ended

30.09.2012

Year to date

figures for

current period

ended

31.12.2012

(Unaudited)

(Unaudited)

(Unaudited)

1

Income from operations

 

 

 

 

(a) Net sales/income from operations

 

 

 

 

(Net of excise duty)

14997.900

14138.500

42861.100

 

(b) Other operating income

203.200

170.300

535.600

 

Total Income from operations (net)

15201.100

14308.800

43396.700

2

Expenses

 

 

 

 

(a) Cost of materials consumed

5087.100

4871.800

14670.400

 

(b) Purchases of stock-in-trade

64.500

54.300

149.400

 

(c) Changes in inventories of finished goods,

 

 

 

 

work-in-progress and stock-in-trade

299.600

(260.300)

(442.500)

 

(d) Employee benefits

1213.000

1171.300

3592.200

 

(e) Depreciation and amortisation

873.200

939.300

2666.100

 

(0  Other expenditure

 

 

 

 

- Stores and Spare parts consumed

609.600

593.100

1856.500

 

- Power, Fuel and Water

3525.000

3763.300

10786.600

 

- Freight, Forwarding, Octroi, etc.

2236.100

1876.000

5942.800

 

- Others

1015.400

865.400

2692.400

 

Total expenses (a to f)

14923.500

13874.200

41913.900

3

Profit / (Loss) from Operations before Other Income,

Finance costs and Exceptional items ( 1-2)

277.600

434.600

1482.800

4

Other Income

76.300

86.400

223.400

5

Profit from ordinary activities

before finance costs and exceptional items (3 + 4)

353.900

521.000

1706.200

6

Finance Costs

825.800

837.600

2470.600

7

Profit / (Loss) from ordinary activities after

finance costs and before exceptional items (5 -6)

(471.900)

(316.600)

(764.400)

8

Exceptional items

-

-

 

9

Profit / (Loss) from ordinary activities

before tax (7 -8 )

(471.900)

(316.600)

(764.400)

10

Tax expense

 

 

 

 

- Current Tax (Net of MAT entitlement credit)

-

-

-

 

- Deferred Tax

(180.000)

(60.000)

(240.000)

 

- Tax adjustments in respect of earlier years (Net)

 

-

 

11

Net Profit / (Loss) from ordinary activities

after tax (9-10)

(291.900)

(256.600)

(524.400)

12

Extraordinary items

-

-

 

13

Net Profit / (Loss) for the period (11-12)

(291.900)

(256.600)

(524.400)

14

Paid-up equity share capital

 

 

 

 

(Face Value : Rs 10/- per Share)

930.400

930.400

930.400

15

Reserve excluding Revaluation Reserves as

 

 

 

 

per balance sheet of previous accounting year

 

 

 

16

Basic and Diluted Earnings Per Share in Rs.

 

 

 

 

( not annualised)

(3.14)

(2.76)

(5.64)

 

(Rs. In Millions)

 

3 months

ended

31.12.2012

Preceding

3 months

ended

30.09 2012

Year to date

figures for

current period

ended

31.12.2012

 

(Unaudited)

(Unaudited)

(Unaudited)

1   Segment Revenue

 

 

 

(Net Sales / Income from operations)

 

 

 

( a ) Textiles

3808.400

4172.400

11835.100

(b) Cement

7854.300

6714.500

22406.500

{ c ) Pulp and Paper

3457.300

3434.900

9065.900

(d ) Others

281.900

312.000

866.100

Total

15401.900

14633.800

44173.600

Less: Intersegment Revenue

404.000

495.300

1312.500

Net Sales/Income from operations

14997.900

14138.500

42861.100

2   Segment Results

 

 

 

Profit / ( Loss ) after depreciation but

 

 

 

before finance costs and exceptional items

 

 

 

(a) Textiles

249.200

224.800

646.700

( b ) Cement

623.300

607.200

2484.500

{ c ) Pulp and Paper

(481.400)

(398.600)

(1360.800)

(d ) Others

39.400

69.500

130.900

Sub - Total

430.500

502.900

1901.300

Add / ( Less )

 

 

 

Inter Segment ( Profit) / Loss

6.100

(9.800)

(31.800)

Total

436.600

493.100

1869.500

( Add ) / Less :

 

 

 

i.  Finance Costs

825.800

837.600

2470.600

ii. Other un-allocable expenditure

 

 

 

net of un-allocable income

82.700

(27.900)

163.300

Total Profit / (Loss) Before Tax

(471.900)

(316.600)

(764.400)

3   Capital Employed S

 

 

 

(Segment Assets-Segment Liabilities)

 

 

 

( a) Textiles

11922.900

12479.700

11922.900

(b ) Cement

17859.100

17168.400

17859.100

( c ) Pulp and Paper

31136.000

30040.700

31136.000

(d ) Others

5673.100

4887.700

5673.100

Total Capital Employed in Segments

66591.100

64576.500

66591.100

(e ) Unallocable assets less liabilities

(48126.300)

(45819.800)

(48126.300)

Total Capital Employed in the Company

18464.800

18756.700

18464.800

 

(a) "Textiles" include Yam, Cloth and Denim Cloth, Viscose Filament Yarn and Tyre Yam

(b) "Cement" include Cement and Clinker

(c) "Pulp and Paper" include Pulp, Writing and Printing paper. Tissue paper, Multilayer packaging Board and Fibre line

(d) "Others" include Salt works, Chemicals,Floriculture and Real Estate. S   Includes projects under implementation.

 

 

UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER, 2012

(Rs in Millions)

 

3 months

ended

31.12.2012

Preceding

3 months

ended

30.09.2012

Year to date

figures for

current period

ended

31.12.2012

 

(Unaudited)

(Unaudited)

(Unaudited)

A  PARTICULARS OF SHAREHOLDING

 

 

 

1   Public Shareholding

 

 

 

- Number of Shares

5,51,64,200

5,51,64,120

5,51,64,200

- Percentage of Shareholding

59.28%

59.28%

59.28%

2  Promoters and promoter group Shareholding

 

 

 

a) Pledged / Encumbered

 

 

 

- Number of Shares

1,32,050

1,32,050

1,32,050

- Percentage of Shares

( as a % of the total shareholding of promoter

and promoter group )

0.35%

0.35%

0.35%

- Percentage of Shares

( as a % of the total share capital of the company )

0.14%

0.14%

0.14%

b) Non-encumbered

 

 

 

- Number of Shares

3,74,37,330

3,74,37,330

3,74,37,330

- Percentage of Shares

{ as a % of the total shareholding of promoter

and promoter group )

99.65%

99.65%

99.65%

- Percentage of Shares

( as a % of the total share capital of the company )

40.24%

40.24%

40.24%

 

 

B INVESTOR COMPLAINTS

3 Months ended 31.12.2012

Pending at the beginning of the Quarter

Nil

Received during the Quarter

13

Disposed of during the Quarter

13

Remaining unresloved at the end of the Quarter

Nil

 

 

Notes:

 

1) The Competition Commission of India (CCI) has vide its order dated 20th June, 2012, upheld the complaint filed by the Builders Association of India alleging cartelisation against certain cement manufacturing companies, including the Company. The CCI has imposed a penalty of Rs. 2740.000 Millions on the Company. Based on a legal opinion, the Company believes that it has a good case and has filed an appeal against the Order before the Competition Appellate Tribunal. Accordingly, no provision has been made in the accounts.

 

2) The above results have been reviewed and recommended for adoption by the Audit Committee to the Board of Directors and have been approved by the Board at its meeting held on 29th January, 2013. The Statutory Auditors have carried out a limited review of the above financial results.

 

3) Previous period's figures have been regrouped / recast wherever necessary.

 

 

FIXED ASSETS:

 

·         Land

·         Freehold and Leasehold Land

·         Building

·         Water Pipe Lines and Tanks

·         Plant and Machinery

·         Floral Plantation

·         Railway Siding and Locomotives

·         Ropeway

·         Reservoir and Pans

·         Electric Installation

·         Air Conditioning Plant

·         Furniture, Fixtures and Equipments

·         Vehicles

·         Software Developments

 

 

 

 

AS PER WEBSITE DETAILS

 

PRESS RELEASE:

 

DERIVE INVESTMENTS BUYS 6 LAKH SHARES OF CENTURY TEXTILES

 

On February 28, 2013 Derive Investments bought 600,000 shares of Century Textiles and Industries at Rs 327.18 on the NSE.

 

In the previous trading session, the share closed at Rs 324.95, down Rs 11.30, or 3.36%. It has touched an intraday high of Rs 341 and an intraday low of Rs 317.80.

 

The company's trailing 12-month (TTM) EPS was at Rs 25.52 per share. (Dec, 2012). The stock's price-to-earnings (P/E) ratio was 12.73. The latest book value of the company is Rs 204.09 per share. At current value, the price-to-book value of the company was 1.59. The dividend yield of the company was 1.69%.

 

The share touched its 52-week high Rs 470 and 52-week low Rs 264 on 06 December, 2012 and 04 June, 2012, respectively. Currently, it is trading 30.86% below its 52-week high and 23.09% above its 52-week low. Market capitalisation stands at Rs 30235.200 Millions.

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.54.34

UK Pound

1

Rs.82.56

70.10Euro

1

Rs.70.10

 

 

INFORMATION DETAILS

 

Report Prepared by :

RAJ

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

9

PAID-UP CAPITAL

1~10

6

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

7

--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

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

64

 

 

 

 

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

-

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.