MIRA INFORM REPORT
|
Report Date : |
01.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
RUCHI SOYA INDUSTRIES LIMITED |
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Registered
Office : |
614, Tulsiani Chambers, Nariman Point, Mumbai – 400021, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
06.01.1986 |
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Com. Reg. No.: |
11-038536 |
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Capital
Investment / Paid-up Capital : |
Rs.687.845 Millions |
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CIN No.: [Company Identification
No.] |
L15140MH1986PLC038536 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR14074E BPLR03207B |
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PAN No.: [Permanent Account No.] |
AAACR28921 |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
The Stock Exchange. |
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Line of Business
: |
Manufacturing of Soya Bean Oil Edible Grade, Meal of Soya Bean and
Other Vegetable Oils and Fats. |
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No. of Employees
: |
2000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 88270000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a flagship company of the RUCHI GROUP. It is well-established and reputed company having fine track record. Financial position of the company appears to be sound. Over all
fundamentals of the company appears to be sound and healthy. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The finance ministry
has started preparations for Budget 2014/15. With general elections scheduled
to be held by May next year, there will only be an interim budget. The new
government will present the fiscal Budget.
The Supreme Court
has barred clinical trials for new drugs till a monitoring mechanism is put in
place to protect the lives of people on which the drugs are tested.
Mumbai has been named
the world’s second most honest city according to a survey on 15 cities
worldwide by Readers’ Digest magazine. Finnish capital
3.7 % Growth of the
core sector in August, a seven month high. This takes the overall growth in
April-August this year to 2.3 % compared with 6.3 % in the corresponding period
next financial year.
$19 million
Estimated average spending by companies across the globe including
Rising inflation,
fewer employment avenues and dwindling earnings are taking a toll on the
spending capacity in
Analysts believe the
shutdown of the
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term bank facilities: BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
15.10.2013 |
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Rating Agency Name |
CARE |
|
Rating |
Short Term bank facilities: A |
|
Rating Explanation |
Strong degree of safety and carry low credit
risk. |
|
Date |
15.10.2013 |
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 PARTED BY (General Details)
|
Name : |
Ms. Amrita |
|
Designation : |
Accounts Department |
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Contact No.: |
91-22-66560600 |
LOCATIONS
|
Registered Office : |
614, Tulsiani Chambers, 2nd Floor, Backbay
Reclamation, Nariman Point, Mumbai – 400021, |
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Tel. No.: |
91-22-66560600 |
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Fax No.: |
91-22-22837525 |
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E-Mail : |
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Website : |
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Area : |
500 Sq. ft. (Approximately) |
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Location: |
Owned |
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Head/
Administrative Office : |
301 Mahakosh House, 7/5 South Tukoganj, |
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Tel. No.: |
91-731-2513281/
282/ 283 |
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Fax No.: |
91-731-4065019/
2527250 |
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Branch Office: |
408, Tulsiani Chambers, Nariman Point, Mumbai – 400021, |
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Factory 1 : |
Survey No.217/1, Village Mityhirohar, Taluka Gandhidham, Kutch,
Gandhidham – 370201, |
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Tel No.: |
91-2836-645672/73 |
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Fax No.: |
91-2836-286509/286473 |
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Factory 2 : |
Mangliagaon, |
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Factory 3 : |
Baikampady
Industrial Area, Mangalore, |
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Factory 4 : |
Village Esambe,
Taluka Khalapur, District Raigad, |
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Factory 5 : |
Bijoyramchak,
Ward No. 9, P.O. Durgachak, Haldia, West |
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Factory 6 : |
Village
Butibori, Tehsil Nagpur, |
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Factory 7 : |
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Factory 8 : |
Village Kamati,
Gadarwada, District Narsinghpur, |
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Factory 9 : |
Gram Mithi Rohar,
Taluka Gandhidham, District Bhuj, |
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Factory 10 : |
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Factory 11 : |
RIICO Udyog
Vihar, Sriganganagar, |
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Factory 12 : |
RIICO Industrial
Area, Govindpur Bawari, Post Talera District, Bundi, |
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Factory 13 : |
Kusmoda, |
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Factory 14 : |
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Factory 15 : |
Rani Piparia,
District Hoshangabad, |
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Factory 16 : |
SIDCO Industrial
Estate, |
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Factory 17 : |
Village Daloda,
District Mandsaur, |
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Factory 18 : |
Survey No. 178, |
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Factory 19 : |
Bapulapadu
Mandal, |
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Factory 20 : |
IDA, |
DIRECTORS
(AS ON 25.09.2012)
|
Name : |
Mr. Kailashchandra Shahra |
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Designation : |
Director |
|
Address : |
29, Old Palasia, |
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Date of Birth/Age : |
31.03.1938 |
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Date of Appointment : |
07.01.1986 |
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DIN No.: |
00062698 |
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Name : |
Mr. Dinesh Chandra Shahra |
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Designation : |
Managing Director |
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Address : |
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Date of Birth/Age : |
14.07.1952 |
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Qualification : |
B. E. (Chemical Engineer) |
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Date of Appointment : |
07.01.1986 |
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DIN No.: |
00533055 |
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|
Name : |
Mr. Sajeve Deora |
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Designation : |
Director |
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Address : |
EC-13, Inderpuri, |
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Date of Birth/Age : |
27.12.1959 |
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Date of Appointment : |
27.122005 |
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DIN No.: |
00003305 |
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|
Name : |
Mr. Prabhu Dayal Dwivedi |
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Designation : |
Director |
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Address : |
34 / 513, Pratap Nagar, Sector No 3, Sanganer, Jaipur –
302203, |
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Date of Birth/Age : |
30.01.1941 |
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Date of Appointment : |
31.03.2008 |
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DIN No.: |
02114285 |
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Name : |
Mr. Ashutosh Bhailal Rao |
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Designation : |
Whole-Time Director |
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Address : |
Scheme No. 98, Flat No. 203, Sanwad Nagar, |
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Date of Birth/Age : |
01.04.1958 |
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Date of Appointment : |
01.06.2004 |
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DIN No.: |
00463278 |
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Name : |
Mr. Murugan Navamani |
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Designation : |
Director |
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Address : |
No 2 CP, |
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Date of Birth/Age : |
24.05.1946 |
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Date of Appointment : |
27.07.2009 |
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DIN No.: |
01309393 |
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Name : |
Mr. Vijay Kumar Jain |
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Designation : |
Whole-Time Director |
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Address : |
C-119, Ground Floor, Sun City Sector – 54, Gurgaon –
122002, |
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Date of Birth/Age : |
03.10.1957 |
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Date of Appointment : |
27.07.2009 |
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DIN No.: |
00098298 |
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Name : |
Mr. Sanjeev Kumar Asthana |
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Designation : |
Director |
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Address : |
363, Espace, Nirvana Country, |
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Date of Birth/Age : |
19.10.1964 |
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Date of Appointment : |
28.08.2010 |
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DIN No.: |
00048958 |
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|
Name : |
Mr. Navin Khandelwal |
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Designation : |
Director |
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Address : |
5/1, Saket, Nagar, |
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Date of Birth/Age : |
22.04.1973 |
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Date of Appointment : |
18.12.2009 |
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DIN No.: |
00134217 |
KEY EXECUTIVES
|
Name : |
Mr. Ramji Lal Gupta |
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Designation : |
Company Secretary |
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Address : |
8, Regency Priya Darshani, |
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Date of Birth/Age : |
10.06.1962 |
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Date of Appointment : |
01.12.1993 |
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Pan No.: |
AENPG4648H |
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|
Name : |
Ms. Amrita |
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Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON:
30.06.2013)
|
Category of
Shareholder |
No. of Shares |
% of No. of Shares |
|||
|
(A) Shareholding of
Promoter and Promoter Group |
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|
|||
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|
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|||
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|
9354431 |
75.00 |
|||
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|
9354431 |
75.00 |
|||
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|
|||
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Total shareholding
of Promoter and Promoter Group (A) |
9354431 |
75.00 |
|||
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(B) Public
Shareholding |
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|
|||
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|
|
|
|||
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|
300 |
0.00 |
|||
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|
11310 |
0.09 |
|||
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|
11610 |
0.09 |
|||
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|
|
|
|||
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|
65358 |
0.52 |
|||
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|
|
|||
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|
1597031 |
12.80 |
|||
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|
1379527 |
11.06 |
|||
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|
64618 |
0.52 |
|||
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|
64618 |
0.52 |
|||
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|
3106534 |
24.91 |
|||
|
Total Public
shareholding (B) |
3118144 |
25.00 |
|||
|
Total (A)+(B) |
12472575 |
100.00 |
|||
|
(C) Shares held by
Custodians and against which Depository Receipts have been issued |
0 |
0.00 |
|||
|
|
0 |
0.00 |
|||
|
|
0 |
0.00 |
|||
|
|
0 |
0.00 |
|||
|
Total (A)+(B)+(C) |
12472575 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Soya Bean Oil Edible Grade, Meal of Soya Bean and Other
Vegetable Oils and Fats. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees
: |
2000 (Approximately) |
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Bankers : |
·
Axis Bank Limited ·
Bank of ·
Bank of ·
Central Bank of ·
Corporation Bank ·
Dena Bank ·
ICICI Bank Limited ·
IDBI Bank Limited ·
Oriental Bank of Commerce ·
Punjab National Bank ·
State Bank of ·
State Bank of ·
State Bank of ·
State Bank of ·
State Bank of ·
State Bank of Travancore ·
Syndicate Bank ·
The Karur Vysya Bank Limited ·
UCO Bank ·
Exim Bank ·
Standard Charted Bank |
|||||||||||||||||||||||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
P. D. Kunte and Company Chartered Accountants |
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Cost
Auditor : |
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|
Name : |
K. G. Goyal and Company Cost Auditors |
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Subsidiaries : |
·
Ruchi Worldwide Limited, ·
Mrig Trading Private Limited, ·
Gemini Edibles and Fats India Private Limited, ·
Ruchi Industries Pte. Limited, ·
Ruchi Ethiopia Holdings Limited, ·
Indian Oil Ruchi Bio Fuels, Limited Liability Partnership ·
Ruchi Infrastructure Limited, |
|
|
|
|
Step Down Subsidiaries: |
·
Ruchi Agri ·
Ruchi Agri Trading Pte. Limited, ·
Ruchi Agri SARL (Madgasker) (with effect from December 12, 2011) ·
Ruchi Agri PLC (with effect from May 20, 2011) ·
Palmolien Industries Pte Ltd. (Combodia) |
|
|
|
|
Associates : |
·
GHI Energy Private Limited ·
Ruchi Green Energy Private Limited |
|
|
|
|
Other Related Parties : |
·
Aaradhya Buildtech Private Limited, ·
Alison Builders and Construction Private Limited, ·
Ankesh Resorts and Hotels Private Limited, ·
Aparaa Buildtech Private Limited, ·
Arav Construction and Developers Private Limited, ·
Archer Construction and Builders Private Limited, ·
Aseem Infracon Private Limited, ·
Avid Constructions Private Limited, ·
Bright Star Housing Private Limited, ·
Deepti Housing Private Limited, ·
Deepti Properties Private Limited, ·
Delite Ventures Private Limited, ·
Great Eastern Infrastructure Corporation Private Limited ·
High Tech Realties Private Limited, ·
I Farm Equity Advisors Private Limited, ·
I Farm Venture Advisors Private Limited, ·
Indivar Wellness Private Limited, ·
Mahadeo Shahra Sukrut Trust ·
Mahakosh Amusement Private Limited, ·
Mahadeo Shahra and Sons ·
Mangalore Liquid Impex Private Limited, ·
Mahakosh Holding Private Limited ·
Navaagat Infratech Private Limited, ·
Navodit Infracon Private Limited, ·
Neha Resorts and Hotels Private Limited, ·
Neha Securities Private Limited, ·
Nibodh Infradevelopers Private Limited, ·
Nirvana Housing Private Limited, ·
Nischit Intratech Private Limited, ·
RSIL Benificiary Trust ·
Ruchi Marketrade Private Limited, ·
Ruchi Bio-fuels Private Limited, ·
Ruchi Corporation Limited, ·
Ruchi Multitrade Private Limited, ·
Ruchi Realty Private Limited, ·
Sadashay Construction Private Lim, ·
Saharsh Brokers Private Limited, ·
Sakushal Buildtech Private Limited, ·
Sanchit Buildtech Private Limited, ·
Shahra Brothers Private Limited, ·
Shahra Estate Private Limited, ·
Shalin Infratech Private Limited, ·
Sharsha Infracon construction and Developers Private Limited, ·
Shiva Foundation (Trust) ·
Soyumm Marketing Private Limited, ·
Spectra Realties Private Limited, ·
Suramya Infratech Private Limited, ·
Vishal Warehousing Private Limited, |
CAPITAL STRUCTURE
AS ON 30.08.2013
Authorised Capital: Rs.2530.500
Millions
Issued, Subscribed & Paid-up Capital: Rs.688.093
Millions
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1010250000 |
Equity Shares |
Rs.2/- each |
Rs.2020.500 Millions |
|
5100000 |
Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs.510.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.2530.500
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
333922572 |
Equity Shares |
Rs.2/- each |
Rs.667.845 Millions |
|
200000 |
6% Non Convertible Redeemable Preference Shares |
Rs.100/- each |
Rs.20.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.687.845 Millions |
NOTES
(a)
Reconciliation of
numbers of shares
|
Particulars |
As at March 31, 2013 |
|
|
i) Equity Shares: |
Number of Shares |
Rs. in Millions |
|
Balance as at the beginning of the year |
333358572 |
666.717 |
|
Add: |
|
|
|
Shares issued
under Employee Stock option during the year |
564000 |
1.128 |
|
Balance as at
the end of the year |
333922572 |
667.845 |
|
ii) Preference Shares |
|
|
|
Balance as at the beginning of the year |
200,000 |
20.000 |
|
Add: |
|
|
|
Shares issued
during the year |
-- |
-- |
|
Balance as at the end of the year |
200,000 |
20.000 |
(b)
Rights, Preferences and Restrictions attached to
Shares
Equity Shares:
The Company has
one class of equity shares having a par value of Rs. 2 per share. Each
shareholder is eligible for one vote per share held. The dividend proposed by
the Board of Directors is subject to the approval of the shareholders in the
ensuing Annual General Meeting. 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.
Lock in
Restrictions
12500000 (Previous
year 70559616) Equity shares are subject to lock in restrictions up to August
27, 2013.
Preference Shares:
6% Non-Convertible
Redeemable Cumulative Preference Shares of Rs.100/- each were issued pursuant
to the Scheme of Amalgamation and Arrangement between Sunshine Oleochem
Limited, Ruchi Soya Industries Limited and their respective shareholders
sanctioned by the Hon’ble High Court of Mumbai an earlier year on the same
terms and conditions as originally issued by Sunshine Oleochem Limited.
The preference shares are redeemable as follows:
a)
First installment of Rs. 33/- per preference share
on completion of 144 months from March 31, 2009.
b)
Second installment of Rs. 33/- per preference share
on completion of 156 months from March 31, 2009.
c)
Third installment of Rs. 34/- per preference share
on completion of 168 months from March 31, 2009.
(c)
Shares allotted
under Employee Stock Option Plan Scheme, 2007 as modified from time to time.
d)
Details of shares
held by shareholders holding more than 5% shares in the Company.
|
Particulars |
31.03.2013 |
% |
|
EQUITY SHARES |
|
|
|
Mr. Dinesh Shahra
(in the capacity of Trustee of Shiva Foundation) |
47440350 |
14.21% |
|
Dinesh Shahra
(HUF) |
17205836 |
5.15% |
|
Soyumm Marketing Private Limited |
28613984 |
8.57% |
|
Spectra
Realities Private. Ltd. |
18100000 |
5.42% |
|
Sawit Plantations PTE Limited |
19612913 |
5.87% |
|
VS Net Limited |
-- |
-- |
|
Cresta Fund Limited |
17670517 |
5.29% |
|
Hi-Tech Housing Projects Private Limited |
33758400 |
10.11% |
|
TOTAL EQUITY SHARES |
182402000 |
54.62% |
|
|
|
|
|
PREFERENCE SHARES |
|
|
|
Ruchi Infrastructure Limited |
200,000 |
100% |
|
TOTAL PREFERENCE
SHARES |
200,000 |
100% |
(e) The issued,
subscribed and paid-up share capital includes 56,638,462 Equity Shares and 200,000
Preference Shares issued pursuant to Schemes of Amalgamation, Arrangement and
Mergers during the last five years.
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
687.845 |
686.717 |
685.053 |
|
(b) Reserves & Surplus |
22974.421 |
21330.071 |
20872.387 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
23662.266 |
22016.788 |
21557.440 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
10374.181 |
7997.050 |
6563.678 |
|
(b) Deferred tax liabilities (Net) |
2466.711 |
2528.721 |
1990.495 |
|
(c) Other long term
liabilities |
279.543 |
352.294 |
151.172 |
|
(d) long-term
provisions |
0.015 |
16.669 |
31.111 |
|
Total Non-current
Liabilities (3) |
13120.450 |
10894.734 |
8736.456 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
44013.239 |
37874.009 |
25203.471 |
|
(b) Trade
payables |
48232.945 |
41240.782 |
34515.559 |
|
(c) Other
current liabilities |
15032.327 |
14595.403 |
5219.640 |
|
(d) Short-term
provisions |
211.985 |
170.264 |
276.508 |
|
Total Current
Liabilities (4) |
107490.496 |
93880.458 |
65215.178 |
|
|
|
|
|
|
TOTAL |
144273.212 |
126791.980 |
95509.074 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
24769.012 |
23413.770 |
21005.959 |
|
(ii)
Intangible Assets |
28.998 |
36.150 |
27.739 |
|
(iii)
Capital work-in-progress |
2133.226 |
2370.057 |
1818.661 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2610.795 |
2102.855 |
1867.935 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1189.145 |
847.098 |
1133.505 |
|
(e) Other
Non-current assets |
3.419 |
3.877 |
3.024 |
|
Total Non-Current
Assets |
30734.595 |
28773.807 |
25856.823 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
218.257 |
4.418 |
4.503 |
|
(b)
Inventories |
33441.506 |
36602.026 |
28234.140 |
|
(c) Trade
receivables |
42467.747 |
30990.157 |
22300.497 |
|
(d) Cash
and cash equivalents |
29499.432 |
23992.329 |
12573.919 |
|
(e)
Short-term loans and advances |
5456.038 |
4706.722 |
5534.717 |
|
(f) Other
current assets |
2455.637 |
1722.521 |
1004.475 |
|
Total
Current Assets |
113538.617 |
98018.173 |
69652.251 |
|
|
|
|
|
|
TOTAL |
144273.212 |
126791.980 |
95509.074 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations (Net) |
261603.182 |
259966.027 |
166268.001 |
|
|
|
Other Income |
3384.073 |
2272.565 |
1359.691 |
|
|
|
TOTAL (A) |
264987.255 |
262238.592 |
167627.692 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
160146.277 |
140349.946 |
101415.081 |
|
|
|
Purchases of Stock In Trade |
75179.792 |
98278.910 |
51410.554 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock in trade |
1504.319 |
(6121.493) |
(4363.336) |
|
|
|
Employees Benefits Expenses |
1425.590 |
1102.561 |
885.896 |
|
|
|
Others Expenses |
18992.454 |
19725.028 |
11794.502 |
|
|
|
TOTAL (B) |
257248.432 |
253334.952 |
161142.697 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
7738.823 |
8903.640 |
6484.995 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3160.746 |
5212.619 |
2227.518 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4578.077 |
3691.021 |
4257.477 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1542.629 |
1407.765 |
1199.270 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
3035.448 |
2283.256 |
3058.207 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
672.808 |
1060.109 |
926.121 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
2362.640 |
1223.147 |
2132.086 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
7084.042 |
6086.295 |
4296.438 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD RELATING TO TRANSFEROR COMPANIES |
0.000 |
0.000 |
101.571 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
General Reserve |
250.000 |
100.000 |
250.000 |
|
|
|
Proposed Dividend |
108.100 |
107.900 |
166.749 |
|
|
|
Capital Redemption Reserve |
0.000 |
0.000 |
0.000 |
|
|
|
Tax on Dividend |
18.300 |
17.500 |
27.051 |
|
|
BALANCE CARRIED
TO THE B/S |
9070.282 |
7084.042 |
6086.295 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F. O. B value of Export |
43210.658 |
32343.326 |
22672.177 |
|
|
|
F. O. B value of Merchandise trade |
14675.056 |
10843.919 |
9063.470 |
|
|
TOTAL EARNINGS |
57885.714 |
43187.245 |
31735.647 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Purchase of Oils |
81644.833 |
69127.946 |
46374.738 |
|
|
|
Purchases for Merchandise exports |
14554.083 |
9334.897 |
8883.483 |
|
|
|
Purchase of Consumables/ packing materials |
68.974 |
7.394 |
6.314 |
|
|
TOTAL IMPORTS |
96267.890 |
78470.237 |
55264.535 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.08 |
3.67 |
6.62 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
|
30.06.2013 |
|
Net Sales |
|
|
48545.500 |
|
Total Expenditure |
|
|
47498.200 |
|
PBIDT (Excl OI) |
|
|
1047.400 |
|
Other Income |
|
|
817.300 |
|
Operating Profit |
|
|
1864.600 |
|
Interest |
|
|
1402.100 |
|
Exceptional Items |
|
|
0.000 |
|
PBDT |
|
|
462.500 |
|
Depreciation |
|
|
403.100 |
|
Profit Before Tax |
|
|
59.400 |
|
Tax |
|
|
28.600 |
|
Provisions and contingencies |
|
|
0.000 |
|
Profit After Tax |
|
|
30.800 |
|
Extraordinary Items |
|
|
0.000 |
|
Prior Period Expenses |
|
|
0.000 |
|
Other Adjustments |
|
|
0.000 |
|
Net Profit |
|
|
30.800 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total
Income |
(%) |
0.89
|
0.47
|
1.27 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.16
|
0.88
|
1.84 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
2.18
|
1.87
|
3.37 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.10
|
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.30
|
2.08 |
1.47
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.27
|
0.29 |
0.37 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOAN:
|
Particulars |
(Rs.
In Millions) 31.03.2013 |
(Rs.
In Millions) 31.03.2012 |
|
Long Term
Borrowings |
|
|
|
Deferred Sales Tax Liability |
722.131 |
510.527 |
|
|
|
|
|
Short Term
Borrowings |
|
|
|
From Banks / Financial Institutions |
37049.975 |
31602.003 |
|
|
|
|
|
Total |
37772.106 |
32112.530 |
PRESS RELEASE:
RUCHI SOYA
ANNOUNCES JOINT VENTURE WITH J OIL MILLS AND TOYOTA TSUSHO CORPORATION
Joint Venture to
takeover plant of Ruchi Soya based at Shujalpur, Madhya Pradesh New innovative product offerings to be introduced
to Indian consumers by 2014 Ruchi Soya 51%, J-OIL 26% and TTC to have 23% stake
in the new JV.
Mumbai, June 05,
2013: Ruchi Soya Industries Limited (Ruchi Soya),
The JV Company is
planning to enter in to the business of production and marketing of high
quality, functional edible oils. The Board of Ruchi Soya has approved the sale
and transfer of Soya processing business of the Company being run at its plant
situated at Shujalpur, in the state of Madhya Pradesh to the proposed JV.
The JV will be
managed by a Board consisting of representatives from all the three companies.
The JV plans to start supplying products to the institutional customers by the
end of 2013 and launch high quality consumer products for the Indian markets in
the second half of 2014.
Mr. Dinesh Shahra,
Founder and Managing Director, Ruchi Soya commented, “This alliance is an
important step towards our business strategy of expanding our product portfolio
by bringing value added & healthier products. Ruchi Soya will provide raw
materials and necessary marketing and distribution assistance to the JV. J-Oil
will provide technical assistance and TTC with its rich global experience will
provide management assistance for internal control and access to international
markets through its network.”
Mr. Sumikazu Umeda,
President and CEO, J-Oil Mills said, “The main purpose of this investment is to
start our first ever business activity overseas in a promising country like
Mr. Yoshiki Miura,
Managing Director, Toyota Tsusho Corporation said, “Ruchi J-Oil JV provides us
appropriate crossover opportunity to leverage our business networks, product
portfolios, and skill sets. We create Global Vision 2020 in which we identified
three business areas that we expect sustainable growth. We aim to expand food
business in life and community field.”
About Ruchi Soya
Industries Limited
Ruchi Soya is
About J-Oil Mills
Inc.
J-Oil Mills is a
Japan-based company engaged in manufacturing, processing and sale of oils and
fats, oilseed meals, starch, various types of foods, feedstuff and fertilizers,
and food-producing machinery. It also has business interests in warehousing,
harbour and land transport agency business, and Real estate among others. J-Oil
has 13 subsidiaries and 6 associated companies.
About Toyota
Tsusho Corporation
Toyota Tsusho Corporation has been growing steadily together with the automotive business as the main axis. Tomen also has been developed with a wide range of business and customers in non-automotive field. Two companies merged on April 1, 2006, and started as newborn Toyota Tsusho Corporation. The newborn Toyota Tsusho group, using the know-how of a global network and as the only trading company group that deeply involved in a idea of manufacturing, aim at a new trading company group that make flexible ideas and an adequate proposal.
RUCHI SOYA JOINS
HANDS WITH GAIN AND CECOEDECON FOR THE FORTIFICATION OF MAHAKOSH SOYABEAN OIL
WITH VITAMIN A AND D
- CECOEDECON, GAIN and Soyabean oil processors
join hands in Madhya Pradesh
- Mahakosh soyabean oil will now have added
health benefits to tackle deficiency of Vitamins
JUNE
18, 2013
Bhopal: India’s leading FMCG Company and No. 1 manufacturer and marketer of Edible oil and Soya products, Ruchi Soya Industries Limited (Ruchi Soya) will play a pivotal role in the project on ‘Soybean oil fortification’ in Madhya Pradesh. Under this project, largest selling Soyabean oil brand in the state ‘Mahakosh’ will now have additional health benefits of Vitamin A and D
This was announced recently in
Centre for Community Economics and Development Consultants Society (CECOEDECON) has been working on ‘Soybean oil fortification’ in collaboration with the United Nations affiliated body, Global Alliance for Improved Nutrition (GAIN) and edible oil manufacturers in Madhya Pradesh. Under this project, soyabean oil by leading companies will be fortified with the essential vitamins A and D. This initiative aims to curb malnutrition in Madhya Pradesh with a primarily focus on the nutritional security.
Mr. Sarvesh Shahra, Business Head, FMCG and Specialty Ingredients, Ruchi Soya Industries Limited commented, “The objective of the soyabean oil fortification project in Madhya Pradesh is to reduce health related problems arising due to Vitamin A and D deficiencies in the state. We are happy to partner with the NGOs and offering healthier options to the consumers of our soya oil brand Mahakosh in Madhya Pradesh. We will also work closely with NGOs like CECOEDECON and GAIN on the awareness generation campaign on Vitamin A and D deficiency and the strategies to address it.”
OPERATIONS
During the year,
the Company’s Total Income (revenue) increased to Rs.264987.300 Millions from
Rs.262238.600 Millions in the previous year. The Profit after tax has also
increased to Rs.2362.600 Millions from Rs.1223.100 Millions in the previous
year, recording a growth of more than 93%.
During the year,
the company commenced commercial production at its newly set up unit at
Karanpura,
During the year,
the company also commenced commercial production of Guargum powder at its newly
set up unit at Kandla,
EXPORTS
During the year,
the Company exported products of Rs.43210.700 Millions (FOB Value) as against
Rs.32343.300 Millions (FOB Value) in the previous year, registering a growth of
over 33%.
FUTURE OUTLOOK
The Company hopes
to optimally utilise its production facilities, which were expanded in recent past.
Keeping in view the vast potential in the edible business and growing
consumption across the population, the Company supports the industry’s view
that consistent and conducive domestic tariff policies will facilitate domestic
value addition, investment into the productive and its dependent sectors, and
overall economic growth. The Company aims to leverage its strong position in
sourcing processing, logistics and distribution activities in
Global supply
chain and backward integration are essential areas for building a sustainable
business model. Hence, the Company is planning to focus on and initiate
activities in those areas through its wholly owned overseas subsidiaries.
Being India’s
leading, branded edible oil Company, Ruchi Soya Industries Limited is assessing
various opportunities to provide value-added, nutritious products to the
consumers and to orient towards niche segments backed by world-class
technology. The Company has already entered into a joint venture with its
Japanese counterparts to manufacture and market tomato sauce and paste. The
Company is also considering another joint venture with other Japanese
counterparts for manufacture of high-end edible oils.
The Company is
evaluating business opportunities in processing various oil seeds for value
addition. It is also aiming to expand and strengthen its relationship with the
farming community. The Company is also reviewing the business processes to take
into account social, environmental, community developmental needs for inclusive
growth. In the previous year, the Company went through a major operational
restructuring by splitting the manufacturing operations into six operational
hubs on a geographical basis. Encouraged by the outcomes, the Company
restructured its trading business this year. It split the trading business into
multiple divisions to substantially increase the product and category level
focus. Each division/hub, being driven by an exclusive business head, ensures
due accountability and fair competition to achieve corporate objectives.
MANAGEMENT
DISCUSSION AND ANALYSIS REPORT
INDUSTRY STRUCTURE AND DEVELOPMENT
The primary
business of the Company is processing of oil-seeds and refining of crude oil
for edible use. The Company also produces oil meal, food products from soya and
value added products from downstream and upstream processing. The domestic
edible oil consumption has been steadily growing and is estimated to be around
18 million MT in the current year, with Palm and soya oil, in which the Company
has a dominant presence, contributing approx. 63% in volume. While there has
been a steady demand growth that has led to per capita consumption of approx.
14 kg (2012-13), it still remains far below the estimated world average per
capita consumption of around 22 kg. The demand drivers include consistent GDP
growth rate over a period of time, demographic profile, urbanisation, consumer
tastes and preferences etc. However, the supply growth has been primarily lower
due to relative stagnancy in the domestic oil seed output, thereby resulting in
higher import volumes. In view of the demand- supply gap, around 60% of the
domestic edible oil consumption is met by imports, with Palm and Soya oil
accounting for over 87% of the imported volume. The domestic soya crop
production was around 11 million MT in
In order to bridge
the growing demand- supply gap in edible oil, the volumes of import of edible
oil have gone up from 5.90 million MT (2007-08) to 11.04 million MT (2012-13)
over the last five years. The share of palm segment in the import of oil has
increased from 5.01 million MT (2007-08) to 8.50 million MT (2012-13) over the
last five years due to favorable price dynamics and higher demand of the cost
conscious consuming population in the country. The palm segment continues to
maintain the overall share of around 77% of the imported vegetable oil in the
country, due to favorable price dynamics and higher demand of the cost
conscious consuming population in the country.
During the year,
the international economic and political situations coupled with monetary
conditions have influenced domestic business sentiments. Also, volatility in
the currency and commodity prices, the depreciation in the value of Indian
rupee, change in the tariff structure of the exporting countries and the
delayed response in their import tariff followed by the subsequent revision
during the year had impacted cost structure and margins.
The Government of
Indonesia had changed the export duty structure for export of crude and refined
palm oils during October 2011, increasing the duty for export of crude oil.
Based on the import duty structure in
The domestic
refining industry is operating on highly competitive terms to offer economical
prices of refined edible oils to Indian consumers. Any adverse landed cost of
inputs due to domestic duty structure would adversely impact the functioning of
the refining industry and its associated dependent sectors. The current low
commodity prices due to global and related factors, the industry has, once
again, represented to the Government to consider increasing the import duties
on both crude and refined oil while retaining the differential duty to support
domestic industry and to use the revenue for development of oil seeds and oil
palm development programme to augment domestic supply of edible oil.
Considering the global economic scenario and challenging business conditions in
domestic markets, the industry hopes that the Government would set (and review
from time to time, as may be required) tariff policy so as to stimulate the
domestic industry on a consistent basis and harmonise the interest of domestic
farmers, processors and consumers through appropriate and differential import
duties between import of crude and refined oils. The industry further hopes
that the Government would proactively respond to global factors and genuine
requests of the industry on a regular basis so as to foster domestic
manufacturing growth and to prop up investments in the domestic manufacturing
sector, given the vast potential of edible oil consumption in India.
The growing demand
of Palm Oil and augmentation of the domestic supply, the Government of India
and State Governments have identified potential areas for oil palm cultivation
and taken measures to promote oil palm cultivation and processing in India It
is believed that the above will benefit farmers with better income, reduce
import bill of edible oil, support domestic industry and promote regional
development. As the effective oil yield per Hectare of palm is far higher than
any other oil seeds, the encouragement will entail increase in the sustainable
sources of supply of domestic edible oil and will be beneficial to the
stakeholders in the long run.
INDUSTRY OUTLOOK
Indian edible oil
sector is, by and large, a price conscious and price sensitive market, as a substantial
part of consumption takes place at the bottom end of the pyramid. The
propensity to consume is correlated with the changes in prices of edible oil
and the quantum of disposable income. Food remains an important item of
expenditure to warrant large share of spending. There has been a consistent
demand growth over a period and the pattern is also expected to continue in the
foreseeable future. However, the pattern of consumption of edible oil is moving
towards packed and/ or branded form due to factors such as, amongst others,
rising incomes coupled with changes in household demographics, improving health
consciousness, growing organised retail improving reach of the products across
the country, visual advertisements etc. Thus the growth of edible oil in packed
form has far exceeded the industry wide growth rate over the last five years.
In the foreseeable future, it
is envisaged that
the overall quantum of edible oil consumption will continue to grow
significantly in the packed segment, with the pattern of consumption shifting
from unpacked to packed form, across different layers of positioning from
“mass” to “class” markets. Also, owing to growing health consciousness, certain
markets could be created for high value and differentiated products from health
and wellness point of view. Consistency in quality and availability, market
positioning, functional differentiation and perception of high value will be
key deliverables for sustaining growth in niche segments.
According to the
industry estimates, the consumption of edible oil is expected to increase from
the current level of approximately 18 million MT to over 20 million MT by the
year 2015. Due to lower domestic supply and increasing demand, the import of
edible oil will rise to meet the demand-supply gap.
In order to
encourage farmers in taking up higher oil seeds cultivation, the Government of
India declared a significant increase in the Minimum Support Prices of oil
seeds (MSP), which is expected to divert higher acreage to oil seed crop. The MSP
for soya bean seed has gone up from Rs.1,690 (2011-12) to Rs.2,240 (2012-13)
per quintal and the MSP for mustard seed has increased from Rs.2,500 (2011-12)
to Rs.3,000 (2012-13) per quintal, thereby improving the sentiments of farmers
for better sowing of soya and Mustard crop. It is widely believed that, to
supplement the MSP initiatives, the Government may also proactively facilitate
providing better quality of planting materials, high yielding oil seeds,
irrigation facilities, information to farmers for adoption of pre and post
harvest technology etc which will result in overall production and productivity
of oil seeds.
The edible oil
industry in
CONTINGENT LIABILITIES: (AS ON: 31.03.2013)
(Rs. In Millions)
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
a)
Claims against the company not acknowledged as debts |
115.203 |
88.315 |
90.676 |
|
b)
Outstanding bank guarantees |
571.776 |
450.641 |
404.834 |
|
c)
Outstanding letter of credit |
-- |
-- |
2.164 |
|
d)
Outstanding corporate guarantees given on behalf of |
|
|
|
|
- Indian Subsidiary |
3471.592 |
3629.876 |
2913.909 |
|
-
Foreign Subsidiary |
-- |
513.000 |
-- |
|
-
Indian Associates |
800.600 |
960.000 |
-- |
|
e) Income tax/Sales tax/Excise/Octroi/Custom
duty/ESIC/ Electricity Duty/demand disputed |
4472.812 |
2540.171 |
2926.730 |
|
f ) Bills discounted |
6631.263 |
5260.259 |
2794.053 |
|
g) Interest liability, if
any, in respect of advance from customers in the event of default. |
-- |
183.072 |
-- |
The Company has
received claims amounting to US$ 662.68 lac (to the extent quantified) from two
overseas entities (claimants) alleging of performance guarantees purportedly given
by the Company as a second guarantor on behalf of an overseas entity in respect
of alleged contracts entered into between the caliamants and the overseas
entity. The Company denies giving the guarantees and has disputed the claims
and is in the process of taking appropriate legal actions and making suitable
representations in the matter. The Company has been legally advised that there
is no likelihood of any liability being fastened on the Company in view of
prima facie absence of any performance Guarantee executed by the Company in
favour of claimants and that no amount will be payable in respect of the claims
made by the claimants. No provision is made in respect of the same in the books
of account.
During the year
under audit, the Income Tax authorities carried out search and seizure action
u/s. 132(1) of the Income Tax Act, 1961 on the Company, its promoters and some
other companies/entities. The consequential appraisal proceedings are in
progress. Pending these proceedings, no provision has been made in the books
for additional liability (amount presently not ascertainable) for tax, interest
and penalty, if any.
STATEMENT OF
STANDALONE UN-AUDITED RESULTS FOR THE QUARTER ENDED ON 30/06/2013
|
PARTICULARS |
3 months |
|
|
|
|
(Unaudited) |
|
1 |
Income from
operations |
|
|
|
(a) Net Sales/Income from operations (Net of excise duty) |
48389.474 |
|
|
(b) Other Operating Income |
156.046 |
|
|
Total income from
operations(net) |
48545.520 |
|
2 |
Expenses |
|
|
|
(a) Cost of materials consumed |
28025.273 |
|
|
(b) Purchases of stock-in-trade |
10841.600 |
|
|
(c ) Changes in inventories of finished goods, work-in-progress and stock-in-trade. |
4412.217 |
|
|
(d) Employee benefits expenses |
392.014 |
|
|
(e) Depreciation and amortisation expenses |
403.117 |
|
|
(f) Other expenses |
3827.060 |
|
|
Total Expenses |
47901.281 |
|
3 |
Profit/(Loss) from
operations before other income, finance costs and exceptional items(1-2) |
644.239 |
|
4 |
Other Income |
817.285 |
|
5 |
Profit/(Loss) from
ordinary activities before finance costs and exceptional items(3+4) |
1461.524 |
|
6 |
Finance costs |
1402.144 |
|
7 |
Profit/(Loss) from
ordinary activities after finance costs but before exceptional
items(5+6) |
59.380 |
|
8 |
Exceptional Items |
- |
|
9 |
Profit/(Loss) from
ordinary activities before tax(7+8) |
59.380 |
|
10 |
Tax Expenses |
28.600 |
|
11 |
Net Profit/(Loss)
from ordinary activities after tax(9+10) |
30.780 |
|
12 |
Extraordinary items (net of tax expenses Rs. Nil ) |
- |
|
13 |
Net Profit/(Loss)
for the period (11+12) |
30.780 |
|
14 |
Share of Profit/(loss) of associates |
- |
|
15 |
Less: Minority Interest share (Gain/Loss) |
- |
|
16 |
Net Profit/(Loss) after
taxes, monority interest and share of profit/(loss) of associates (13+14+15). |
30.780 |
|
17 |
Paid up - Equity Share Capital (Face value Rs. 2/- per share) |
6,68.093 |
|
|
Preference Share Capital (Face value Rs.100/- per share) |
20.000 |
|
18 |
Reserve excluding Revaluation Reserve as per balance sheet of previous accounting year |
- |
|
19.i |
Earning per share
(before extraordinary items) (of Rs.2/-each) (not annualised) ( in Rs. Per share) |
|
|
|
a) Basic |
0.09 |
|
|
b) Diluted |
0.09 |
|
19.ii |
Earning per share (after extraordinary items)(of Rs. 2/-each) (not annualised)( in Rs. Per share) |
|
|
|
a) Basic |
0.09 |
|
|
b) Diluted |
0.09 |
|
2 |
Promoters and
Promoters Group Shareholding |
|
|
|
a)
Pledged/Encumbered |
|
|
|
- Number of shares |
30,448,665 |
|
|
- Percentage of shares(as a % of the total shareholding of promoter and promoter group) |
16.64 |
|
|
- Percentage of shares(as a % of the total share capital of the Company) |
9.11 |
|
|
b) Non-encumbered |
|
|
|
- Number of shares |
152,492,084 |
|
|
- Percentage of shares(as a % of the total shareholding of promoter and promoter group) |
83.36 |
|
|
- Percentage of shares(as a % of the total share capital of the Company) |
45.65 |
|
B. |
INVESTOR COMPLAINTS |
|
|
|
Pending at the beginning of the quarter |
- |
|
|
Received during the quarter |
13 |
|
|
Disposed of during the quarter |
13 |
|
|
Remaining unresolved at the end of the quarter |
- |
INDEX CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10419930 |
22/03/2013 |
3,650,000,000.00 |
State Bank of |
Commercial
Branch, |
B73253957 |
|
2 |
10406214 |
29/12/2012 |
2,500,000,000.00 |
Bank of |
Bhicholi Mardana
Branch, Vidhya Sagar School Road Indore, Madhya Pradesh - 452001, India |
B68850171 |
|
3 |
10386062 |
19/10/2012 |
2,650,000,000.00 |
State Bank of |
Commercial
braanch, |
B61783767 |
|
4 |
10373592 |
30/08/2012 |
1,669,455,000.00 |
DBS Bank Limited |
3rd Floor, Fort House,
221, Dr. D. N. Road, Fort, Mumbai, Maharashtra - 400001, India |
B56697717 |
|
5 |
10370275 |
09/08/2012 |
1,102,900,000.00 |
DBS Bank Limited |
3rd Floor, Fort
House, 221, Dr. D. N. Road, Fort, Mumbai, Maharashtra - 400001, India |
B45343043 |
|
6 |
10360000 |
17/05/2012 |
300,000,000.00 |
Axis Bank
Limited |
01, Kamal
Palace, Y N Road, |
B41351016 |
|
7 |
10329974 |
19/12/2011 |
664,000,000.00 |
|
Cnergy, 6th Floor,
Appasaheb Marathe Marg, Prabha |
B29512936 |
|
8 |
10299238 |
28/07/2011 |
5,632,500,000.00 |
ICICI Bank |
Corporate Head
Office, ICICI Bank Towers, Bandra - Kurla Complex, Bandra (East), Mumbai, Maharashtra
- 400051, |
B17691478 |
|
9 |
10296868 |
27/06/2011 |
2,500,000,000.00 |
State Bank of |
Commercial
branch, a. |
B16773319 |
|
10 |
10286881 |
27/04/2011 |
917,400,000.00 |
Standard
Chartered Bank |
90, M |
B12842993 |
FIXED ASSETS
·
·
Lease hold Land
·
Buildings
·
Plant and Machinery
·
Windmills
·
Furniture and Fixtures
·
Vehicles
·
Office Equipments
·
Trade Marks
·
Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its
beneficial owners, controlling shareholders or senior officers as terrorist or
terrorist organization or whom notice had been received that all financial
transactions involving their assets have been blocked or convicted, found
guilty or against whom a judgement or order had been entered in a proceedings
for violating money-laundering, anti-corruption or bribery or international
economic or anti-terrorism sanction laws or whose assets were seized, blocked,
frozen or ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the
property or assets of the subject are derived from criminal conduct or a
prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No
record exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our
market survey revealed that the amount of compensation sought by the subject is
fair and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
|
|
1 |
Rs.98.29 |
|
Euro |
1 |
Rs.84.12 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
53 |
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.