MIRA INFORM REPORT
|
Report Date : |
02.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
AMBUJA
CEMENTS LIMITED (w. e. f. 05.04.2007) |
|
|
|
|
Formerly Known
As : |
GUJARAT
AMBUJA CEMENTS LIMITED |
|
|
|
|
Registered
Office : |
Ambuja Nagar P.O. Taluka Kodinar, Amreli District,
Junagadh - 362715, Gujarat |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
20.10.1981 |
|
|
|
|
Com. Reg. No.: |
04-004717 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3084.400 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L26942GJ1981PLC004717 |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturing and Marketing of Cement. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (74) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 350000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a well established and a reputed company having fine track record. Financial position of the company appears to be sound. Directors are reported to be experienced and respectable businessmen. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered good normal for business
dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = AAA |
|
Rating Explanation |
Highest degree of safety it carry lowest credit risk |
|
Date |
10.04.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A1+ |
|
Rating Explanation |
Highest degree of safety it carry lowest credit risk |
|
Date |
10.04.2013 |
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.
INFORMATION DECLINED
Management Non Co-operative (91-2795-221137)
LOCATIONS
|
Registered Office : |
Ambuja Nagar P.O. Taluka Kodinar, Amreli District, Junagadh - 362715, Gujarat, India |
|
Tel. No.: |
91-2795-221137 / 232065 |
|
Fax No.: |
91-2795-232629 |
|
E-Mail : |
shares@ambujacement.com |
|
Website : |
|
|
|
|
|
Corporate Office : |
Elegant Business Park, MIDC Cross Road ‘B’, Off Andheri-Kurla Road,
Andheri (East), Mumbai – 400 059, Maharashtra, India |
|
|
|
|
Cement Plants : |
|
|
|
|
|
Grinding Stations: |
|
|
|
|
|
Bulk Cement
Terminals: |
|
DIRECTORS
As on 31.03.2012
|
Name : |
Mr. N S Sekhsaria |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Paul Hugentobler |
|
Designation : |
Vice Chairman |
|
|
|
|
Name : |
Mr. M.L. Bhakta |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Nasser Munjee |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Rajendra P. Chitale |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Shailesh Haribhakti |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr. Omkar Goswami |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Naresh Chandra |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Bernard Fontana |
|
Designation : |
Director |
|
Date of Appointment: |
10.02.2012 |
|
|
|
|
Name : |
Mr. Haigreve Kjaitan |
|
Designation : |
Director |
|
Date of Appointment : |
27.07.2012 |
|
|
|
|
Name : |
Mr. B.L. Taparia |
|
Designation : |
01.09.2012 |
|
|
|
|
Name : |
Mr. Onne Van Der Weijde |
|
Designation : |
Director
|
KEY EXECUTIVES
|
Name : |
Rajiv Gandhi |
|
Designation : |
Company Secretary |
|
Date of Appointment : |
01.10.2012 |
|
|
|
|
Name : |
Mr. Suresh Neotia |
|
Designation : |
Chairman Emeritus |
|
|
|
|
Name : |
Mr. Ajay Kapur |
|
Designation : |
Chief Executive Officer |
|
|
|
|
Name : |
Mr. Sanjeev Churiwala |
|
Designation : |
Chief Financial Officer |
|
|
|
|
Business Heads |
Mr. J.C. Toshniwal (North) Mr. Vilas Deshmukh (West and South) Mr. Vivek Agnihotri (East) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2013
|
Category of Shareholder |
No. of Shares |
Percentage of
Holding |
|
|
|
|
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
|
|
|
|
780308553 |
51.84 |
|
|
780308553 |
51.84 |
|
Total shareholding of Promoter and Promoter Group (A) |
780308553 |
51.84 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
20083281 |
1.33 |
|
|
1061130 |
0.07 |
|
|
110813550 |
7.36 |
|
|
463750057 |
30.81 |
|
|
595708018 |
39.58 |
|
|
|
|
|
|
7569160 |
0.50 |
|
|
|
|
|
|
95860242 |
6.37 |
|
|
9641974 |
0.64 |
|
|
16071542 |
1.07 |
|
|
15383564 |
1.02 |
|
|
616225 |
0.04 |
|
|
12870 |
0.00 |
|
|
58883 |
0.00 |
|
|
129142918 |
8.58 |
|
Total Public shareholding (B) |
724850936 |
48.16 |
|
Total (A)+(B) |
1505159489 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
37312647 |
0.00 |
|
|
37312647 |
0.00 |
|
Total (A)+(B)+(C) |
1542472136 |
0.00 |
Shareholding
belonging to the category "Promoter and Promoter Group"
|
Sl.No. |
Name of the
Shareholder |
Details of Shares
held |
|
Total shares
(including underlying shares assuming full conversion of warrants and
convertible securities) as a % of diluted share capital |
|
|
|
No. of Shares held |
As a % of grand
total (A)+(B)+(C) |
|
|
1 |
Holderind Investments Limited |
62,96,38,433 |
40.82 |
40.82 |
|
2 |
Holcim India Private Limited |
15,06,70,120 |
9.77 |
9.77 |
|
|
Total |
78,03,08,553 |
50.59 |
50.59 |
Shareholding
belonging to the category "Public" and holding more than 1% of the Total
No. of Shares
|
Sl. No. |
Name of the
Shareholder |
No. of Shares held |
Shares as % of
Total No. of Shares |
Total shares
(including underlying shares assuming full conversion of warrants and
convertible securities) as a % of diluted share capital |
|
1 |
Life Insurance Corporation of India |
58775398 |
3.81 |
3.81 |
|
2 |
Genesis Limited |
39874017 |
2.59 |
2.59 |
|
3 |
Aberdeen Global Indian Equity Fund Mauritius |
47511000 |
3.08 |
3.08 |
|
4 |
Flagship Indian Investment Company Mauritius |
19754049 |
1.28 |
1.28 |
|
5 |
Oppenheimer Developing Markets Fund |
46747034 |
3.03 |
3.03 |
|
|
Total |
212661498 |
13.79 |
13.79 |
Details of Depository
Receipts (DRs)
|
Sl. No. |
Type of Outstanding
DR (ADRs, GDRs, SDRs, etc.) |
No. of Outstanding
DRs |
No. of Shares
Underlying |
Shares Underlying
Outstanding DRs as % of Total No. of Shares |
|
1 |
GDR |
3,73,12,647 |
3,73,12,647 |
2.42 |
|
|
Total |
3,73,12,647 |
3,73,12,647 |
2.42 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Marketing of Cement. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity (b) |
Actual
Production |
|
|
|
(Rs. in millions) |
|
|
Cement (excluding Trial Run production of Nil; previous year
7,422 MT) |
MT |
27350000 |
20968883 |
|
|
|
|
|
(a) The Company’s product is exempt from Licensing requirements under New Industrial Policy in terms of Notification no. S.O.477 (E) dated 25th July 1991.
(b) Annual Capacity as certified by the management and,
being a technical matter, accepted by the Auditors
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S R Batliboi and Associates Chartered Accountants |
|
|
|
|
Cost Auditors : |
P. M. Nanabhoy and Company Chartered Accountants |
|
|
|
|
Ultimate Holding
Company : |
Holcim Limited, Switzerland |
|
|
|
|
Intermediate Holding
Company : |
Holderfin BV, Netherlands |
|
|
|
|
Holding Company : |
Holderind Investments Limited, Mauritius |
|
|
|
|
Subsidiary : |
|
|
|
|
|
Joint Venture : |
·
Wardha Vaalley Coal Field Private Limited,
India
|
|
|
|
|
Step down
subsidiary : |
Dirk Pozzocrete (MP) Private Limited, India |
|
|
|
|
Fellow Subsidiary : |
|
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000000 |
Equity Shares |
Rs.2/- each |
Rs.5000.000 millions |
|
150000000 |
Preference Shares |
Rs.10/- each |
Rs.1500.000 millions |
|
|
Total |
|
Rs.6500.000
millions |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1542510956 |
Equity Shares |
Rs.2/- each |
Rs.3085.100
Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1542184436 |
Equity Shares |
Rs.2/- each |
Rs.3084.400
Millions |
|
|
|
|
|
a) Reconciliation of
equity shares outstanding
|
Particular |
No. of shares |
Rs. In Millions |
|
At the beginning of the year |
1,534,369,261 |
3068.700 |
|
Add : Issued against Employee Stock Option Schemes (ESOS) . |
7,815,175 |
15.700 |
|
At the end of the year |
1,542,184,436 |
3084.400 |
b) Rights,
preferences and restrictions attached to equity shares
The Company has one class of equity shares having a par value of Rs.2 per share. Each shareholder is entitled to one vote per equity share. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation of the Company, the equity shareholders are eligible to receive remaining assets of the Company, after distribution of all preferential amounts, in proportion to their shareholding.
c) Equity shares held
by holding company, ultimate holding company and their subsidiaries
|
Particular |
As at 31.12.2012 Rs. In Millions |
|
i) Holderind Investments Limited, Mauritius (HIL), the holding company 629,638,433 (previous year - 621,032,990) equity shares of Rs.2 each fully paid-up. |
1259.300 |
|
ii) Holcim India Private Limited (HIPL) 150,670,120 (previous year - 150,670,120) equity shares of Rs.2 each fully paid-up |
301.300 |
d) Details of equity
shares held by shareholders holding more than 5% shares in the Company
|
Sr. No. |
Particular |
No. of shares |
% holding in the class |
|
i) |
Holderind Investments Limited, Mauritius |
629,638,433 |
40.83% |
|
ii) |
Holcim India Private Limited |
150,670,120 |
9.77% |
|
iii) |
Life Insurance Corporation of India |
67,525,555 |
4.38% |
As per the of the Company, including its register of shareholders / members and other declarations received from shareholders regarding beneficial interest, the above shareholding represent both legal and beneficial ownership of shares.
e) Outstanding employee stock options exercisable into 10,165,025 (previous year - 18,591,025) equity shares of Rs. 2 each fully paid up.
f) Outstanding tradable warrants and right shares kept in abeyance exercisable into 186,690 (previous year- 186,690) and 139,830 (previous year- 139,830) equity shares of Rs.2 each fully paid-up respectively.
* As on 31.12.2011, equity shares were held by erstwhile Ambuja Cement India Private Limited, subsidiary of HIL, since amalgamated with HIPL. HIL and HIPL are subsidiaries of Holcim Limited, Switzerland, the ultimate holding company.
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 |
3084.400 |
3068.700 |
3059.700 |
|
|
2] Share Application Money |
0.000 |
0.100 |
0.000 |
|
|
3]Employee stock option |
0.000 |
0.000 |
13.400 |
|
|
4]] Reserves & Surplus |
84966.200 |
77625.600 |
70227.900 |
|
|
5] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
88050.600 |
80694.400 |
73301.000 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
346.300 |
428.000 |
650.300 |
|
|
TOTAL BORROWING |
346.300 |
428.000 |
650.300 |
|
|
DEFERRED TAX LIABILITIES |
5482.500 |
6436.000 |
5308.800 |
|
|
|
|
|
|
|
|
TOTAL |
93879.400 |
87558.400 |
79260.100 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
58623.700 |
61864.600 |
56277.500 |
|
|
Capital work-in-progress |
5201.200 |
4868.200 |
8036.500 |
|
|
Advances against capital expenditure
|
|
|
1270.500 |
|
|
|
|
|
|
|
|
INVESTMENT |
16558.400 |
8643.100 |
6259.500 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
9839.300
|
9249.700 |
9018.600 |
|
|
Sundry Debtors |
2133.700
|
2408.500 |
1281.800 |
|
|
Cash & Bank Balances |
22537.200
|
20690.800 |
16481.700 |
|
|
Other Current Assets |
389.700
|
260.800 |
165.700 |
|
|
Loans & Advances |
8963.600
|
7432.700 |
4405.500 |
|
Total
Current Assets |
43863.500
|
40042.500 |
31353.300 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
9345.400
|
9511.600 |
11061.100 |
|
|
Other Current Liabilities |
6607.800
|
6435.900 |
1915.000 |
|
|
Provisions |
14414.200
|
11912.500 |
10965.700 |
|
Total
Current Liabilities |
30367.400
|
27860.000 |
23941.800 |
|
|
Net Current Assets |
13496.100
|
12182.500 |
7411.500 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
4.600 |
|
|
|
|
|
|
|
|
TOTAL |
93879.400 |
87558.400 |
79260.100 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
97303.000 |
85542.600 |
73902.100 |
|
|
|
Other Income |
3488.700 |
2478.700 |
2476.000 |
|
|
|
TOTAL (A) |
100791.700 |
88021.300 |
76378.100 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of raw materials consumed |
6717.600 |
|
|
|
|
|
Changes in inventories of finished goods and work-in-progress |
(2008.300) |
570.000 |
|
|
|
|
Employee benefits expense |
4785.100 |
4332.00 |
|
|
|
|
Power and fuel |
23290.700 |
20013.700 |
55400.600 |
|
|
|
Freight and forwarding |
22758.500 |
19333.600 |
|
|
|
|
Other expenses |
17096.800 |
15816.600 |
|
|
|
|
Self consumption of cement |
(67.100) |
(67.400) |
|
|
|
|
Exceptional items |
2791.300 |
242.500 |
|
|
|
|
TOTAL (B) |
75364.600 |
66014.800 |
55400.600 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
25427.100 |
22006.500 |
20977.500 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
756.600 |
526.300 |
486.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
24670.500 |
21480.200 |
20490.600 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5652.200 |
4451.500 |
3871.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
19018.300 |
17028.700 |
16618.700 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6047.700 |
4740.100 |
3982.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
12970.600 |
12288.600 |
12636.100 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2847.500 |
3253.500 |
3492.300 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Debenture Redemption Reserve |
0.000 |
0.000 |
(250.000) |
|
|
|
General Reserve |
2000.000 |
7000.000 |
8500.000 |
|
|
|
Distribution Tax written back |
0.000 |
(8.300) |
(7.100) |
|
|
|
Interim Dividend On Equity Shares |
5548.000 |
4906.900 |
1830.400 |
|
|
|
Dividend Distribution Tax on above |
0.000 |
0.000 |
304.100 |
|
|
|
Proposed Final Dividend On Equity Shares |
0.000 |
0.000 |
2141.800 |
|
|
|
Dividend Distribution Tax on above |
900.000 |
796.000 |
355.700 |
|
|
BALANCE CARRIED
TO THE B/S |
7370.100 |
2847.500 |
3253.500 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
232.700 |
765.700 |
972.700 |
|
|
|
Royalty |
1.900 |
2.800 |
0.000 |
|
|
|
Other Earnings |
94.800 |
33.300 |
12.300 |
|
|
TOTAL EARNINGS |
329.400 |
801.800 |
985.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw materials |
389.800 |
371.900 |
347.300 |
|
|
|
Packing material |
26.000 |
15.500 |
0.000 |
|
|
|
Fuels |
4859.600 |
4904.700 |
3677.000 |
|
|
|
Spares |
497.900 |
571.300 |
622.200 |
|
|
|
Capital goods |
373.100 |
573.100 |
514.300 |
|
|
TOTAL IMPORTS |
6146.400 |
6436.500 |
5160.800 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
8.43 |
8.02 |
8.28 |
|
|
|
Diluted |
8.41 |
8.00 |
8.26 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2012 |
30.09.2012 |
31.12.2012 |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net sales |
25784.500 |
21751.600 |
23351.900 |
|
Total Expenditure |
18436.100 |
1653.2800 |
18851.100 |
|
PBIDT (Excl OI) |
7348.400 |
5218.800 |
4500.800 |
|
Other Income |
783.100 |
894.400 |
881.200 |
|
Operating Profit |
8131.500 |
6113.200 |
5382.000 |
|
Interest |
180.400 |
165.500 |
242.700 |
|
Exceptional terms |
0.000 |
0.000 |
0.000 |
|
PBDT |
7951.100 |
5947.700 |
5139.300 |
|
Depreciation |
1215.100 |
1373.000 |
1855.300 |
|
PROFIT BEFORE TAX |
6736.100 |
4574.700 |
3284.000 |
|
Tax |
2047.100 |
1535.000 |
1164.300 |
|
Provision and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
4689.000 |
3039.700 |
2119.700 |
|
Extra ordinary items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expense |
0.000 |
0.000 |
0.000 |
|
Net Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
4689.000 |
3039.700 |
2119.700 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
12.87
|
13.96 |
16.54 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
19.55
|
19.91 |
22.49 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.56
|
16.71 |
18.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.21 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.01 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.44
|
1.44 |
1.31 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
Rs.
In Millions
|
Particular |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Trade payables |
|
|
|
|
dues to micro and small enterprises |
9345.400
|
9511.600 |
11061.100 |
|
Total |
9345.400
|
9511.600 |
11061.100 |
|
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 |
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 |
Yes |
|
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 |
DETAILS OF
LITIGATIONS
14th
September 2012
PIL filed against
Ambuja Cement
Ahmedabad: A public interest litigation (PIL) against subject seeking cancellation of lease and environmental clearance granted for mining in Verval region of Junagadh district has been filed in the Gujarat High court by an NGO based in Veraval, Junagadh.
In addition to the cancellation, the PIL also seeks stay on mining activities of the company while the case is pending with the court.
Alleging that the cement company had been indulging in theft of minerals worth over Rs.50.000 Millions from government owned land, the petitioner Paryavaran Bachav Samiti (PBS) sought penal actions against subject under the India Penal Code (IPC).
The NGO has claimed that it has obtained documents under the Right to Information (RTI) Act from the state government officials which would make it clear that the officers and directors of Ambuja Cement Limited are habitual offenders and in spite of commission of offences by them, under Section 379, 380 of the Indian Penal Code and also under the Mines and Minerals (Regulations and Development) Act, no criminal complaint is filed against them.
The PIL has sought directions for the MoEF and the state government to cancel or recall the environmental clearance and mining lease, respectively, granted to the cement company. It has also challenged the section 23A of the Mines and Minerals (Regulations and Development) Act, 1957 and Rule 14 of the Gujarat Minerals (Prevention of Illegal Mining, Transportation and Storage) Rules, 2005, which prohibits mining lease to violators on mining laws.
It has also sought direction for the state government to register criminal complaint against the company under section 378 and 379 (related to theft) of IPC for violating mining rules and alleged theft in form of minerals from government land.
FINANCIAL RESULTS
2012
AT A GLANCE (STAND
ALONE RESULTS):
- Cement production Increased modestly by 3,1% to reach 21.62 Million tonnes, from 2097 million tonnes while clinker production went up to 15.81 million tonnes registering growth of 7,5% over 14.70 million tonnes in the year 2011.
- Domestic cement sales volume reflected sluggish demand scenario by growing at 3,8% to reach 21.31 million tonnes from 20.54 million tonnes a year ago. Cement exports fell to 0.12 million tonnes from 0.37 million tonnes a year ago. Clinker sales (including exports) grew by 2.4%, settling at 0.55 million tonnes from 0.54 million tonnes in 2011.
- Net sales at Rs.96750.000 Millions were 13.6% higher than that of odious year Rs.85040.000 Millions. Average sales realisation improved by around 11% at Rs. 4,400 per tonne against approx 73,960 per tonne In 2011.
- Total (operating) expenses for the year 2012 increased by 11.4% over that of year 2011.
- The company achieved an absolute EBITDA of Rs.24730.000 Millions in 2012. This is higher by 25.09% over the corresponding regrouped figure (Rs.19770.000 Millions) of 2011.
- Net Profit at Rs.12970.000 Millions improved by 5.5% over corresponding figure of Rs.12290.000 Millions for previous year.
MARKET DEVELOPMENTS
The Company's domestic cement sales in 2012 grew by 3.8% to 21.31 million tonnes as compared to 20.54 million tonnes achieved in 2011. Total cement sales (including exports) grew by 2.5% to 21.43 million tonnes as compared to 20.91 million tonnes achieved in 2011. The company's clinker sales in 2012 grew by 24% to 0.55 million tonnes as compared to 0.54 million tonnes achieved in 2011.
REGION WISE SALES
VOLUME/ GROWTH
In the North region, domestic cement sales of the Company grew by 8.9% to 8.79 million tonnes in 2012 as compared to 8.07 million tonnes in 2011. Clinker sales during 2012 were at 0.10 million tonnes as compared to 0.12 million tonnes achieved in 2011.
In the Eastern region, the Company achieved sales of 4.22 million tonnes of cement in the domestic market, registering a growth of 7% over the previous year sales of 3.95 million tonnes. Clinker sales also grew by 7% to 0.45 million tonnes in 2012 as compared to 0.42 million tonnes in 2011.
In the West and South region, the Company's domestic cement sales in 2012 declined by 2.6% to 8.30 million tonnes as compared to 8.52 million tonnes achieved in 2011. This was mainly on account of poor demand owing to the drought-tike situation in many parts of Maharashtra, extended shortage of essential construction materials, poor liquidity, fewer new projects, etc.
Cement exports were reduced further to 0.12 million tonnes as compared to 0.37 million tonnes in 2011 due to adverse international market and diversion of material to domestic market. The Company continues to develop and leverage its large and able network of around 8000 dealers and 25,000 retailers across India. Their reach and penetration helps the Company across the country in core rural and semi-urban markets. This, coupled with the strong brand equity and efficient channel management, helped the Company to withstand severe competition in an over-supply market.
While the company's network of ports, bulk cement terminals and Captive ships on the west coast has supported a sustainable and strong market position in Mumbai, Surat and Cochin, the Mangalore Bulk Cement Terminal, which is expected to commence commercial operations in the first half of 2013, will further strengthen Company's position and enhance footprints in the southern region.
With the support of Holcim's rich experience of operating in 70 countries, the Company has now added sophisticated IT and channel management tools to its traditional Indian model. This has enhanced Company's capability to face stiff competition more convincingly and maintain a strong market position
The Company has embarked upon Marketing and Commercial excellence program (MaCX) to farther sharpen its marketing, sales and distribution functions. This ambitious program is part of comprehensive Holcim Leadership Journey (HLJ). announced by Holcim management across the globe, to deliver substantial tangible and intangible gains and create value in competitive environment over next few years. MaCX aims to supplement in house skills with global expertise of Holcim and that of advisory firms, to revamp customer interlacing functions by focusing on core value levers. This is an investment to future proof the company and to promote environment of innovation and excellence.
COST DEVELOPMENTS
The major cost elements of the Company continued their upward movement in line with unyielding inflation in the economy and volatile foreign exchange rates
MAJOR COST MOVEMENTS:
i) Cost of major raw materials, namely, fly ash and gypsum, increased by 14% and 25% respectively on per tonne basis, mainly on account of increase in transportation costs. Excise burden on fly ash introduced in the Union Budget 2011 continues. Overall, The absolute raw material costs increased by approx 16% over the previous year. During The year, the Company did not purchase clinker from open market. Costs on account of raw materials consumed, excluding purchased clinker, increased by a little over 18% as compared to over 2011 costs.
ii) Power and fuel costs registered an increase of around 16% in terms of absolute costs over last year. These costs account for approximately 30% of total operating costs of the Company and are mainly driven by movement in cost of fuel, especially coal.
Cost of coal used in kilns and power plants increased by 12.5% and 8.6% respectively on an average basis, over the year 2011. Concerns associated with linkage coal, like non-availability commensurate with increased production, inordinate delay in conversion of allotted linkages into Fuel Supply Agreements (FSA) and deteriorating quality continues to be an issue. The Company is proactively taking measures to mitigate expenses by trying cost effective fuel mix, exploring energy efficient technologies, and increasing the use of pet coke in lieu of coal. Significant volatility and devaluation in Indian currency in 2012, especially in the second half, has made imported coal costlier, even when USD denominated coal prices relaxed.
Coal of grid power continued its upward movement with per kwh rate increasing at approximately 6% over the previous year. Expensive thermal power was substituted by relatively cheaper grid power. Captive power generation supported 60% of total power requirements of the Company in 2012 as against 70% in 2011.
Savings on account of efficiency in operations helped reduction of costs by 2% of total energy costs.
iii) Freight forwarding costs, makes around 29% of total operational cost, also hardened by approx 18% in absolute terms over previous year.
iv) Cost of packing went up by around 15% driven by increase in PP granule prices in line with oil price Increase.
COST MITIGATION
MEASURES / EFFICIENCY IMPROVEMENT INITIATIVES:
i) The Company continued to focus on production of fly ash based PPC and maintained an average blending ratio of approximately 1.48.
ii) The Company has embarked upon an ambitious journey, named 'Holcim Leadership Journey' (HLJ), as a part of global efforts launched by its parent. Holcim, to add higher value for its shareholders.
`The Company is channelising its efforts into exploring and utilising excellence in the areas of customer development and cost leadership. Focus on customers, products and services Innovation, constructive pricing policies and empowered sales force is expected to deliver customer excellence. Incisive studies have been initialed to find the most efficient use of energy resources, maximising usage of Alternative Fuels and Raw materials (AFR), optimisation of clinker and cement movement to save on logistics costs.
iii) Railway siding at Bhatinda grinding unit was made operational in mid January 2013. This will help us to optimise transportation costs for the unit and reduce dependence on road transport.
iv) A dedicated corridor (road), measuring 8.5 km, connecting highway to their captive jetty at Muldwarka port has been completed to enable the company to shift the entire transport to Muldwarka port through own road. This would ensure seamless flow of despatches to coastal markets using jetty at Muldwarka port, which makes 60% of total despatches from Ambujanagar plant. Besides, this would also address some serious concerns of road safety.
v) Dumas Channel, the shorter sea route to BCT Surat explored in year 2011, is being used extensively and facilitating transportation cost savings in coastal freight.
EXPANSION PROJECTS
AND NEW INVESTMENTS
The Company took up several projects to serve its customers in a more efficient, cost-effective, reliable and environmentally-friendly manner, while bolstering its market position in the industry.
CAPACITY EXPANSION
DURING THE YEAR:
In the Eastern region, the Company commissioned a pre-grinder at its Bhatapara unit in the State of Chhattisgarh at an approximate cost of Rs.400.000 Millions resulting in an increase in total cement capacity by 0.60 million tonnes per annum. With the above addition, the Company has achieved cement grinding capacity of 27.95 million tonnes as at 31st December 2012,
EFFICIENCY IMPROVEMENT
MEASURES:
The Company focussed on consolidation and optimisation of its existing capacities in all the three regions. Capital investments kept flowing in during the year, to ensure the highest standards of safely in order to meet The company policies of 'Zero Harm', clean and energy efficient infrastructure, cost efficient and environment-friendly material handling systems and process optimisation.
i) Waste Heat Recovery (WHR) project at Rabriyawas unit in Rajasthan was initiated in year 2011 to bring efficiency in fuel utilisation and optimise power costs. This is expected to complete by September 2013 at a total cost of Rs.750.000 Millions. The Maratha Cement Works unit in Maharashtra has also taken up this project for implementation in 2013-14 at approximate cost of Rs.900.000 Millions.
ii) In order to strengthen logistics capability and extend reach lo customers, a new railway siding project has been Initiated al Rabriyawas unit in Rajasthan.
iii) An automatic wagon loading system at Farraka unit in West Bengal being built at a cost of approximately Rs.320.000 Millions is nearing completion. This will reduce the cost and improve the efficiency of material handling.
UPCOMING CAPACITIES
AND INVESTMENTS:
i) A new Bulk Cement Terminal (BCT) is nearing completion al Mangalore. With operations to commence early 2013, it will help the company to expand its footprints in southern markets of India
ii) A new brown-field expansion project was announced in 2011 at Sankrail Grinding Unit in the eastern region comprising of a roller press and related logistics. The project has started progressing with extended scope to include advanced technical specifications. This would add 0.80 million tonne grinding capacity to the unit, along with other facilities.
iii) Significant cement capacity addition of approximately 4.50 MT at proposed integrated plant (with extended grinding capacities) is coming up at Marwar Mundwa. Nagaur district in Rajasthan, with associated clinkerisation capacity of 2.20 million tonnes. Environmental clearances for the project are already in place while mining land acquisition is in an advanced stage. The Company is also in the process of tying-up water sources required for construction and operations. Full-fledged construction work is expected in the later part of year 2013.
iv) The Company has taken up 13 new ambitious projects at different locations worth Rs.2720.000 Millions to optimise and enhance efficiency. These projects have a quick payback of 2.5 to 4 years and likely to be completed in first half of 2014.
v) A new brown-field expansion project at me Rabriyawas unit in Rajasthan, for commissioning a roller press at a cost of Rs.700.000 Millions, will add 0.30 million tonne grinding capacity by the end of the year 2013.
vi) Plans are afoot lo set up a state-of-the-art blending facility at Sanand in Gujarat with grinding and mechanised packing facilities at an Investment of Rs.2670.000 Millions. This facility once operational by the 3rd quarter of 2015, will lend a competitive edge in the nearby central markets of Gujarat.
The year 2013 would see capital expenditure worth Rs.11000.000 Millions, over and above Rs.6000.000 Millions investment made in the year 2012. The entire proposed expenditure would be financed by internal accruals.
ALTERNATIVE FUELS -
THE GREEN ENERGY
An ambitious project, named 'Geo20’, taken up by the Company to substitute costlier traditional Fossil fuels by Alternative Fuels (AF), is progressing well and supporting cost-cutting. Holcim is actively supporting their efforts by making available its world-wide experience and technical expertise in the area of clean and green technology and burning all sorts of wastes without corresponding release of harmful gases and COz in the air. Besides, Holcim's rich experience in the area has helped devise innovative ways of sourcing.
The Company envisions being the most sustainable Company in the cement industry and draws heavily on Holcim's sustainability policy on CO2 and energy, eco-efficient products, atmospheric emissions, sustainable construction, etc. The strategic stress on environmentally - friendly and cost effective resources resulted in the establishment of the Geocycle department to focus on Alternative Fuels and Raw Material (AFR).
In order to optimise the furnaces at 5 of the integrated plants, to support higher utilisation of lower cost, environmentally-friendly, alternative fuels, the Company has planned investments involving capital expenditure of Rs.2000.000 Millions. Some work on these ambitious projects has already started.
During 2012, the Company increased use of alternative fuels in its kilns from 0.59% in 2011 to 1.40% in 2012. The company is determined to achieve higher thermal energy substitution rates in the coming years.
OUTLOOK
REFORMS WILL RESULT
IN ECONOMIC REVIVAL
India's growth story remains attractive in comparison with many developed and developing economies, although the nation's adverse fiscal deficit and negative current account balance calls for some bold rectification measures from the Government. The Government appears to be focussing on consolidation of the economic recovery through expeditious clearances for the projects, selective disinvestment and accelerating foreign direct investments through policy reforms.
While The impact of some recently announced progressive reforms would reflect only in a year and a hall, the Company agrees with experts and expects GDP to grow in 2013 at around 6% plus and the cement industry at 7.5 - 8%, This optimism relies on The positive outlook for infrastructure and construction, upcoming state and national elections, improvement in monetary conditions and also possible upturn in investments post the structural reforms. Higher agricultural income, lower interest rates, pre-election welfare and Five Year Plan induced spending by the Government is expected to raise private consumption growth and improve capacity utilisation in the economy.
GROWTH PROSPECTS FOR
THE CEMENT INDUSTRY
Cement demand emanates from four key segments. Namely housing, which accounts for approx 67% of cement demand, Infrastructure (13%), commercial construction (11%) and industrial construction (9%), Economic reforms announced by The Government and RBI, including the expected lowering of interest rates in 2013, will surely boost sentiments and rejuvenate the economy.
The cement industry is looking for an up-cycle after muted growth for the last three years, backed by an increase in rural consumption and the recovery in the infrastructure activity The recent government measures lo fast-track infrastructure projects and with general elections a year away, construction activity is expected to pick up steam, leading Lo strong demand for cement.
Long-term growth prospects for cement demand are favourable, riding on the back of a growing economy and the impetus provided to the housing and infrastructure construction activities in the 12th Five-Year Plan period (2012-17). The total investment In infrastructure sectors in the Twelfth Five Year Plan is estimated to be Rs.56 lakh crores (one trillion USD).
Rising input costs, particularly energy, raw material, freight and distribution, will remain a key challenge for the cement industry. Any adverse changes to existing laws/taxes may impact the industry. Land acquisition, environment clearances, inadequate supply of raw materials like limestone, linkage coal and fly ash are likely to hamper expansion plans of many cement companies.
The Company plans to mitigate such cost escalations through varied measures, including the increased use of alternative fuels and higher production of blended cement. The leadership journey adopted by the company will drive cost efficiency and customer excellence to increase margins. The Company will continuously strive to further strengthen its operational platform to manage cost, remain competitive and create value-addition for stakeholders with a long-term perspective.
CONTINGENT
LIABILITIES
Rs. In Millions
|
Sr. No. |
Particular |
31.03.2012 |
31.03.2011 |
|
|
(a) |
Claims against the Company not acknowledged as debts |
|
|
|
|
|
(i) |
Disputed liability relating to labour matters |
189.500 |
172.500 |
|
|
(ii) |
For acquisition of land |
670.300 |
647.700 |
|
|
(iii) |
Others |
313.600 |
195.600 |
|
(b) |
Guarantees |
|
|
|
|
|
Guarantees given on behalf of a joint venture company |
36.700 |
36.700 |
|
|
(c) |
Other matters for which the company is contingently liable |
|
|
|
|
|
(i) |
Tax matters |
|
|
|
|
|
(a) Disputed liability in respect of Income-tax demands (including interest) - matters under appeal |
53.700 |
654.900 |
|
|
|
(b) Disputed Sales - tax demands (including interest and penalty) |
162.400 |
163.100 |
|
|
|
(c) Disputed Excise demands - matters under appeal |
278.100 |
239.700 |
|
|
|
(d) Disputed Customs demands - matters under appeal |
- |
5.200 |
|
|
|
(e) Disputed liability of RTO tax on mining machinery |
8.000 |
8.000 |
|
|
|
(f) Disputed Land tax demands |
143.800 |
163.800 |
|
|
(ii) |
Disputed liabilities relating to railway freight on cement - matter once decided in favour of the Company by the Honourable High Court of Gujarat was remanded back by the Honourable Supreme Court pursuant to a Special Leave Petition filed by the railways. |
76.500 |
73.800 |
|
|
(iii) |
Disputed liabilities relating to coal claims - matter pending in the Honourable High Court : |
|
|
|
|
|
(a) Railway freight on coal |
16.000 |
16.000 |
|
|
|
(b) Penal freight on excess weight of coal |
2.400 |
2.400 |
|
|
|
(c) Interest on premium on coal |
32.900 |
32.900 |
|
|
(iv) |
The Competition Commission of India issued an order dated 20th June, 2012, imposing penalty on certain cement manufacturers, including the Company, concerning alleged contravention of the provisions of the Competition Act, 2002, and imposed a penalty of Rs.11639.100 Millions on the Company. The Company has filed an appeal against the said order with the appropriate authority, which is pending for disposal |
11639.100 |
|
|
|
(v) |
Others |
- |
56.100 |
In respect of items above, future cash outflows in respect of contingent liabilities are determinable only on receipt of judgements / decisions pending at various forums / authorities.
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long-term
borrowings |
|
|
|
Sales tax deferment loan under sales tax incentive scheme of State Government |
346.300 |
428.000 |
|
Total |
346.300 |
428.000 |
|
Sales tax deferment loan is interest free and payable in 10 annual installments starting from April 2007 of varying amounts from Rs.15.200 Millions to Rs.132.300 Millions |
||
FIXED ASSETS:
·
·
· Buildings, Roads and Water Works
· Marine Structures
· Plant and Machinery
· Electrical Installations
· Railway Sidings and Locomotives
· Railway wagons given on lease
· Furniture, Fixtures and Office Equipments
· Ships
· Vehicles
· Power Lines
Intangible Assets:
· Water Drawing Rights
· Computer Software
AS PER WEBSITE
PRESS RELEASE
CREDIT SUISSE UPS
AMBUJA CEMENTS; STOCK UP 2%
Apr 09, 2013, 02.46 PM IST
Credit Suisse upgrades Ambuja Cements to "outperform" from "neutral", citing the company's exposure to northern India, a region where the investment bank says low new supply and higher existing capacity are keeping cement prices high.
Credit Suisse also mentions "more compelling" valuations and improving recovery in margins and demand growth for the sector as reasons for its upgrade in a report on Tuesday.
Ambuja Cements shares are up 2 percent as of 2:10 p.m.
CLSA UPGRADES AMBUJA
CEMENTS TO `BUY'; SHARES GAIN
Apr 02, 2013, 03.03 PM IST
Shares in Ambuja Cements Limited gain 1 percent after CLSA upgraded the stock to "buy" from "outperform", citing 'reasonable' valuations following recent correction.
CLSA says the stock now trades at 15 times its one-year forward earnings, which is broadly in line with the five-year average.
Cement stocks have been under pressure for the last few months following the negative news flow on weak industry demand growth while the increase in royalty by Holcim Limited further impacted Ambuja and ACC Limited.
While Ambuja is down 13.3 percent so far in 2013, ACC has fallen 18.9 percent in the same period, as of Monday's close.
The research house also says that Ambuja intends to start work on its Rajasthan expansion from the second half of 2013, which would add 4.5mtpa by 2015. The stock now trades at 15 times its one-year forward earnings, which is broadly in line with the five-year average.
Cement stocks have been under pressure for the last few months following the negative news flow on weak industry demand growth while the increase in royalty by Holcim Limited further impacted Ambuja and ACC Limited.
While Ambuja is down 13.3 percent so far in 2013, ACC has fallen 18.9 percent in the same period, as of Monday's close.
The research house also says that Ambuja intends to start work on its Rajasthan expansion from the second half of 2013, which would add 4.5mtpa by 2015.
AMBUJA CEMENT FACES
ACCUSATION FOR THEFT OF MINERALS WORTH RS 50.000 MILLIONS FROM GOVERNMENT LAND
Friday, September 14, 2012, 15:32 [IST]
Accusing Ambuja Cement Limited of theft of minerals worth over Rs 50.000 Millions, an NGO Paryavaran Bachav Samiti (PBS) has filed public interest litigation (PIL) in the Gujarat High court, seeking cancellation of lease and environmental clearance granted to the company.
The cancellation is sought for the mining permission in Verval region of Junagadh district.
The PIL accuses Ambuja cement for being indulged in theft of minerals from government owned land and sought penal actions against Ambjua Cement Limited under the India Penal Code (IPC).
Besides, the petition also claimed that it has obtained documents under the Right to Information (RTI) Act from the state government officials which would make it clear "that the officers and directors of Ambuja Cement Limited are habitual offender and in spite of commission of offences by them, under Section 379, 380 of the Indian Penal Code and also under the Mines and Minerals (Regulations and Development) Act, no criminal complaint is filed against them."
14th January 2013,
Delhi
AMBUJA PREVAILS ONCE
AGAIN WITH TWIN-WIN!!
CII Sustainability Awards 2012 presented by President Pranab Mukherjee
Ambuja Cements Limited, undisputedly among the best cement companies in the country, was once again recognised for its consistent dedication and visionary approach in the area of Sustainability.
President Pranab Mukherjee presented the CII Sustainability Awards 2012 (Commendation Certificate for Significant Achievement on Journey towards Sustainable Development) to our CEO Ajay Kapur at an impressive event held at the Vigyan Bhavan in New Delhi on 14th January, 2013.
Organised by the Confederation of Indian Industries (CII), this Award function is a platform to recognize efforts of those corporates that have moulded their business models to accommodate the parameters of sustainability. By winning this Award, Ambuja’s multipronged approach of building capacities and promoting thought leadership on a gamut of issues related to sustainability, has been recognised.
Expressing a deep sense of pride and gratitude at the honour bestowed on the Company, Mr. Ajay Kapur said, “This is a fulfilling moment for all of us at Ambuja. The Hon’ble President’s message that sustainability is the way of the future could not ring truer for us. Ambuja had set the trend with a single-minded focus on sustainability two years ago – we even revised our vision statement to include our intent ‘to be the most sustainable and competitive company in the industry’.”
The second award, ‘Commendation on Strong Commitment’ was won by the Company’s integrated plant in Chandrapur (Maharashtra), the Maratha Cement Works (MCW). On receiving the award, Unit head and President of MCW, Sushil Kumar Thakur said, “Our plant has incorporated various factors to implement a dedicated programme within the framework of the triple bottom line objectives. We have empowered stakeholder communities, implemented energy efficiency, capacity building, resource conservation and community-based initiatives. This has resulted in a significant generation of livelihood and also impacted the environment we live and work in.”
Mr Kapur also observed, “Ambuja Cement has achieved the global mandate of water positive status and our countrywide rating is by a factor of 2. This has only been possible due to our visionary approach, coupled with a commitment and belief in our stakeholders.”
About the Company
Ambuja Cements Limited. (ACL) is one of the leading cement manufacturing companies in India and commenced cement production in 1986. Initially called Gujarat Ambuja Cements Limited, the Company later became Ambuja Cements Limited. In 2006, global cement major Holcim, acquired management control of the Company. Today, Holcim holds a little over 50% equity in ACL.
ACL has grown manifold over the past decade. Its current cement capacity is 27.25 million tonnes. The Company has 5 integrated cement manufacturing plants and 8 cement grinding units across the country. ACL enjoys a reputation of being one of the most efficient cement manufacturers in the world. Its environment protection measures are considered to be on par with the finest in the country. It is also one of the most profitable and innovative cement companies in India.
28th December 2012,
Sankrail
AMBUJA CEMENT ANNOUNCES EXPANSION PLANS OF
SANKRAIL GRINDING UNIT
CEO Ajay Kapur Welcomes Commerce and Industry Minister (West Bengal) Partha Chatterjee To Inaugurate The Activity
Ambuja Cements Limited, undisputedly among the best cement companies in the country, announced its expansion plans for its Sankrail grinding unit today. West Bengal Minister of Industries Partha hatterjee inaugurated the kick-off for the expansion plans. He was accompanied by Sankrail representatives, MP Ambica Banerjee and MLA Sital Sardar.
On the momentous occasion, ACL CEO Ajay Kapur welcomed the honourable minster and the special guests. “This is a moment of great pride and achievement for all of us at Ambuja,” said Mr Kapur. “From the launch of this plant in 2000, we have crossed one milestone after another and have made steady progress. We are grateful for all the support that has been extended to us by the Govt. and people of West Bengal.”
The Sankrail plant’s expansion programme includes an investment of Rs 325 Crores where the capacity would increase from its present capacity of 1.5 million tonne per annum to 2.4 million tonne cement per annum. Business Head SN Toshniwal recalls the growth of this unit. “From the very beginning of its manufacturing operation, Sankrail unit put a strong footprint in the region by providing the best quality cement available in India.” Construction was completed in a record time of nine months and commercial production commenced in February 2001.
“Today, the Ambuja brand is synonymous with strength and unbreakable trust; we have also created brands like Ambuja Plus that are benchmarked as one-of-its kind in the industry,” concluded Mr Kapur.
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 records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.22 |
|
|
1 |
Rs.84.00 |
|
Euro |
1 |
Rs.70.98 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
74 |
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.