MIRA
INFORM REPORT
|
Report Date : |
19.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
PRISM CEMENT LIMITED |
|
|
|
|
Registered
Office : |
305, Laxmi Nivas Apartments, Ameerpet, |
|
|
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|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
26.03.1992 |
|
|
|
|
Com. Reg. No.: |
01-014033 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5033.600
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L26942AP1992PLC014033 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP04712B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP6224A |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacture of Cement, Tiles, Bath and Kitchens and Readymixed Concrete. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 43000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track record.
The company is continuously incurring losses from its two year of operation. However,
the company receives good support from its group company. The rating also
takes into consideration the established presence of the company as a cement
manufacturer. Trade relations are reported s fair. Business is active. Payment terms
are reported to be slow. The company can be considered 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.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
We are living in a world
where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and the
US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loan = A- (Down Graded form A) |
|
Rating Explanation |
Adequate degree of safety it carry low credit risk. |
|
Date |
July 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Fund Based Limit = A2 (Fund Based Limits) |
|
Rating Explanation |
Strong degree of safety it carry very low credit risk. |
|
Date |
July 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (EMPLOYEE PROVIDENT FUND) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
305, Laxmi Nivas Apartments, Ameerpet, |
|
Tel. No.: |
91-40-23319208/ 23396082 |
|
Fax No.: |
91-40-23319135/ 26100179 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office/ Head Office : |
‘Rahejas’, |
|
Tel. No.: |
91-22-66754142/ 3/ 4/ 5 |
|
Fax No.: |
91-22-26001304/ 26001304 |
|
|
|
|
Factory 1 : |
Cement
Manufacturing Facilities Village Mankahari, Tehsil Rampur Baghelan, Satna – 485 111, |
|
Tel. No.: |
91-7672-275622/ 1/ 410260 |
|
Fax No.: |
91-7672-275303 |
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|
|
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Factory : |
·
Coal Block is located at Chhindwara, Madhya
Pradesh ·
Tile manufacturing facilities are located at Pen,
Maharashtra; Dewas, Madhya Pradesh; Kunigal, Karnataka and Karaikal, Puducherry (RMC Readymix ( |
|
|
|
|
Sales and
Marketing Office: |
16/1/6A, |
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|
|
|
Marketing Office : |
Also located at:
· Kanpur · Lucknow · Bareilly · Varanasi · Patna · Satna · Jabalpur · Bhopal · Delhi |
DIRECTORS
As on: 31.03.2013
|
Name : |
Mr. Rajesh G.
Kapadia |
|
Designation : |
Chairman |
|
Date of Birth/ Age : |
02.11.1956 |
|
Qualification : |
B. Com., FCA |
|
List of outside
Company Directorships held : |
· Asianet Satellite Communications Limited · Exide Industries Limited · EIH Associated Hotels Limited · Goldiam International Limited · Goldiam Jewellery Limited · ING Vysya Life Insurance Company Limited · Raheja QBE General Insurance Company Limited |
|
|
|
|
Name : |
Mr. Rajan B.
Raheja |
|
Designation : |
Director |
|
Date of Birth/ Age : |
17.06.1954 |
|
Qualification : |
B.Com |
|
List of outside
Company Directorships held : |
· EIH Associated Hotels Limited · EIH Limited · Exide Industries Limited · Hathway Cable and Datacom Limited · ING Vysya Life Insurance Company Limited · Juhu Beach Resorts Limited · Supreme Petrochem Limited |
|
|
|
|
Name : |
Mr. Manoj Chhabra |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. Vijay
Aggarwal |
|
Designation : |
Managing Director |
|
Date of Birth/ Age : |
08.07.1968 |
|
Qualification : |
B. Tech (IIT-Delhi), PGDM (IIM - Ahd.) |
|
List of outside Company
Directorships held : |
· Aptech Limited · Asianet Satellite · Communications Limited · Exide Industries Limited · ING Vysya Life Insurance · Company Limited |
|
|
|
|
Name : |
Mr. Satish B.
Raheja |
|
Designation : |
Director |
|
Date of Birth/ Age : |
03.01.1964 |
|
Qualification : |
B. Sc., BM |
|
List of outside
Company Directorships held : |
· Exide Industries Limited · ING Vysya Life Insurance Company Limited · Supreme Petrochem Limited |
|
|
|
|
Name : |
Mr. Akshay R.
Raheja |
|
Designation : |
Director |
|
Date of Birth/ Age : |
25.05.1982 |
|
Qualification : |
B. Com., MBA |
|
List of outside
Company Directorships held : |
· Asianet Satellite Communications Limited · Hathway Cable and Datacom Limited · Raheja QBE General Insurance · Company Limited |
|
|
|
|
Name : |
Mr. Ganesh Kaskar |
|
Designation : |
Executive Director |
|
Date of Birth/ Age : |
25.05.1959 |
|
Qualification : |
M. Tech (IIT) |
|
|
|
|
Name : |
Mr. James Arthur
Brooks |
|
Designation : |
Director |
|
Date of Birth/ Age : |
10.06.1948 |
|
Qualification : |
ACMA (Inter) |
|
|
|
|
Name : |
Ms. Ameeta A.
Parpia |
|
Designation : |
Director |
|
Date of Birth/ Age : |
22.02.1965 |
|
Qualification : |
B.A., LL.B Advocate and Solicitor |
|
List of outside Company Directorships held : |
Raheja QBE General Insurance Company Limited |
KEY EXECUTIVES
|
Name : |
Ms. Aneeta S. Kulkarni |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Category of Shareholders |
No.
of Shares |
Percentage
of holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
68250423 |
13.56 |
|
|
308630246 |
61.31 |
|
|
376880669 |
74.87 |
|
|
|
|
|
|
500 |
0.00 |
|
|
500 |
0.00 |
|
Total shareholding of Promoter and Promoter Group (A) |
376881169 |
74.87 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
15878145 |
3.15 |
|
|
59162 |
0.01 |
|
|
2343936 |
0.47 |
|
|
18281243 |
3.63 |
|
|
|
|
|
|
41359299 |
8.22 |
|
|
|
|
|
|
32723021 |
6.50 |
|
|
20228760 |
4.02 |
|
|
13883088 |
2.76 |
|
|
1465756 |
0.29 |
|
|
4200 |
0.00 |
|
|
12369600 |
2.46 |
|
|
43532 |
0.01 |
|
|
108194168 |
21.49 |
|
Total Public shareholding (B) |
126475411 |
25.13 |
|
Total (A)+(B) |
503356580 |
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) |
503356580 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of Cement, Tiles, Bath and Kitchens and Readymixed Concrete. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
· Axis Bank Limited · ICICI Bank Limited · IDBI Bank Limited · Indian Overseas Bank · ING Vysya Bank Limited · State Bank of India · Syndicate Bank · Vijaya Bank · Yes Bank Limited |
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Facilities : |
(Rs.
In Millions)
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
|
|
|
Statutory Auditors : |
|
|
Name : |
N.M. Raiji and Company Chartered Accountants |
|
Address : |
Mumbai, |
|
|
|
|
Branch Auditors : |
|
|
Name : |
Borkar and Muzumdar Chartered Accountants |
|
Address : |
Mumbai, |
|
|
|
|
Cost Auditors : |
|
|
Name : |
N.I. Mehta and Company Chartered Accountants |
|
Address : |
Mumbai, |
|
|
|
|
Joint
Venture/Associates : |
· Ardex Endura (India) Private Limited · Sentini Cermica Private Limited · Antique Marbonite Private Limited · Spectrum Johnson Tiles Private Limited · TBK Samiyaz Tile Bath Kitchen Private Limited · TBK Shriram Tile Bath Kitchen Private Limited · Small Johnson Floor Tiles Private Limited (Formerly Known as Small Tiles Private Limited) · TBK Deziner's Home Private Limited · TBK Unique Jalgaon Tile Bath Kitchen Private Limit · TBK PB Shah Tile Bath Kitchen Private Limited · TBK Deepgiri Tile Bath Kitchen Private Limited · TBK Pratap Tile Bath Kitchen Private Limited · TBK Rangoli Tile Bath Kitchen Private Limited · TBK Bansal Ceramics Private Limited · TBK Venkataramiah Tile Bath Kitchen Private Limit · TBK Rathi Sales Agencies Private Limited · TBK Florance Ceramics Private Limited · TBK Sanitary Sales Private Limited · TBK Tile Home Private Limited · TBK Krishna Tile Bath Kitchen Private Limited · TBK Reddy Tile Bath Kitchen Private Limited · TBK Kadakia's Tile Bath Kitchen Private Limited · TBK Rishi Ceramics Private Limited · TBK Aishwarya Tile Bath Kitchen Private Limited · TBK Raj Kamal Tile Bath Kitchen Private Limited · TBK Shree Ganesh Traders Private Limited · TBK Vaibhavi Tile Bath Kitchen Private Limited · TBK Home Trends Private Limited · Prism Power and Infrastructure Private Limited |
|
|
|
|
Subsidiaries : |
· Raheja QBE General Insurance Co. Limited · RMC Readymix Porselano (India) Limited · H and R. Johnson (India) TBK Limited · Lifestyle Investments PVT Limited · Silica Ceramica Private Limited · Milano Bathroom Fittings Private Limited |
|
|
|
|
Firm/Enterprise in
which Directors and/or relatives have significant influence : |
· R and S Business Centre · Windsor Realty Private Limited |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,50,00,000 |
Equity Shares |
Rs.10/- each |
Rs.5050.000 Millions |
|
2,00,00,000 |
Preference shares |
Rs.10/- each |
Rs.200.000 Millions |
|
|
Total |
|
Rs.5250.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,33,56,580 |
Equity Shares |
Rs.10/- each |
Rs.5033.600 Millions |
|
|
|
|
|
Reconciliation of
number of equity shares outstanding
(Rs. in Millions)
|
Particulars |
As at 31-03-2013 |
|
At the beginning of the year |
503.356 |
|
At the end of the
year |
503.356 |
Rights, Preferences
and Restrictions attached to Equity Shares:
The Company has one class of equity shares having a par value of Rs. 10/- per share. Each shareholder is entitled to one vote per equity share. The shareholders are entitled to dividend declared on proportionate basis. On 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.
The Company had issued 20,51,06,580 number of Equity shares of Rs. 10/- each fully paid during the period of five years immediately preceding the reporting date pursuant to a scheme of amalgamation of erstwhile H. and R. Johnson (India) Limited and RMC Readymix (India) Private Limited with the Company without payments being received in cash. As per the said scheme of amalgamation 1,23,51,600 shares of the Company are held in a Trust for the benefit of the Company.
Details of
Shareholders holding more than 5% of the issued shares
|
|
As at 31-03-2013 |
|
|
Name of the
Shareholder |
Total Shares Held |
As a % of Total Shares |
|
Manali Investment and Finance Private Limited |
6,78,17,992 |
1 13.47% |
|
Hathway Investments Limited |
6,41,13,400 |
12.74% |
|
Coronet Investments Private Limited |
5,79,49,394 |
11.51% |
|
Rajan B. Raheja |
5,14,02,627 |
10.21% |
|
Bloomingdale Investment and Finance Private Limited |
3,12,89,300 |
| 6.22% |
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 |
5033.600 |
5033.600 |
5033.600 |
|
(b) Reserves & Surplus |
5863.500 |
6452.100 |
7044.700 |
|
(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) |
10897.100 |
11485.700 |
12078.300 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
10176.500 |
8959.500 |
7343.800 |
|
(b) Deferred tax liabilities (Net) |
919.100 |
1156.600 |
1321.100 |
|
(c) Other long term liabilities |
1075.900 |
896.300 |
680.800 |
|
(d) long-term provisions |
353.800 |
303.500 |
482.300 |
|
Total Non-current Liabilities (3) |
12525.300 |
11315.900 |
9828.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2638.700 |
1430.000 |
971.100 |
|
(b) Trade payables |
7779.500 |
6159.200 |
4400.600 |
|
(c) Other current
liabilities |
6577.900 |
5489.900 |
5346.400 |
|
(d) Short-term provisions |
80.300 |
376.700 |
77.400 |
|
Total Current Liabilities (4) |
17076.400 |
13455.800 |
10795.500 |
|
|
|
|
|
|
TOTAL |
40498.800 |
36257.400 |
32701.800 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
19849.500 |
18910.100 |
18700.400 |
|
(ii) Intangible Assets |
244.700 |
221.400 |
167.500 |
|
(iii) Capital
work-in-progress |
839.400 |
664.200 |
286.200 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
3782.400 |
3900.000 |
3543.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2035.200 |
1355.400 |
1068.800 |
|
(e) Other Non-current assets |
45.200 |
3.800 |
1.100 |
|
Total Non-Current Assets |
26796.400 |
25054.900 |
23767.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
4674.100 |
4272.800 |
3712.900 |
|
(c) Trade receivables |
4778.600 |
3463.300 |
2644.100 |
|
(d) Cash and cash
equivalents |
374.800 |
565.100 |
598.900 |
|
(e) Short-term loans and
advances |
3120.200 |
2321.300 |
1828.900 |
|
(f) Other current assets |
754.700 |
580.000 |
150.000 |
|
Total Current Assets |
13702.400 |
11202.500 |
8934.800 |
|
|
|
|
|
|
TOTAL |
40498.800 |
36257.400 |
32701.800 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
47684.700 |
45047.100 |
33873.000 |
|
|
|
Other Income |
55.300 |
49.900 |
44.200 |
|
|
|
TOTAL (A) |
47740.000 |
45097.000 |
33917.200 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials consumed |
12136.700 |
11746.900 |
8708.100 |
|
|
|
Purchase of Stock-in-trade |
9338.500 |
9087.000 |
7347.500 |
|
|
|
Changes in inventories
of finished goods, traded goods and work-in-progress |
(238.300) |
(334.900) |
(337.800) |
|
|
|
Employees benefit expenses |
2589.300 |
2229.900 |
1728.000 |
|
|
|
Other expenses |
21258.800 |
19691.800 |
13044.400 |
|
|
|
Exceptional Items |
(16.200) |
28.000 |
(9.600) |
|
|
|
TOTAL (B) |
45068.800 |
42448.700 |
30480.600 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2671.200 |
2648.300 |
3436.600 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1903.100 |
1635.400 |
997.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
768.100 |
1012.900 |
2439.600 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1598.000 |
1472.800 |
1133.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(829.900) |
(459.900) |
1306.600 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(235.100) |
(159.800) |
348.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(594.800) |
(300.100) |
957.900 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4455.400 |
5318.000 |
4997.200 |
|
|
|
|
|
|
|
|
|
Add |
Dividend on own shares held through trust |
6.200 |
0.000 |
12.400 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to Debenture Redemption Reserve |
294.400 |
270.000 |
62.500 |
|
|
|
Dividend |
0.000 |
251.700 |
503.400 |
|
|
|
Distribution Tax on dividend |
0.000 |
40.800 |
83.600 |
|
|
BALANCE CARRIED
TO THE B/S |
3572.400 |
4455.400 |
5318.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Export |
241.900 |
281.000 |
179.100 |
|
|
|
Sales of Carbon Credits |
0.000 |
8.900 |
25.100 |
|
|
TOTAL EARNINGS |
241.900 |
289.900 |
204.200 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Spares |
250.800 |
396.700 |
202.400 |
|
|
|
Raw Materials |
317.000 |
440.100 |
245.200 |
|
|
|
Capital Goods |
111.800 |
192.000 |
1480.900 |
|
|
|
Traded Goods |
273.400 |
290.000 |
89.500 |
|
|
TOTAL IMPORTS |
953.000 |
1318.800 |
2018.000 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(1.21) |
(0.61) |
1.95 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
|
30.06.2013 |
|
Net Sales |
|
|
11339.700 |
|
Total Expenditure |
|
|
10964.300 |
|
PBIDT (Excl OI) |
|
|
375.400 |
|
Other Income |
|
|
17.400 |
|
Operating Profit |
|
|
392.800 |
|
Interest |
|
|
548.700 |
|
Exceptional Items |
|
|
0.000 |
|
PBDT |
|
|
(155.900) |
|
Depreciation |
|
|
427.900 |
|
Profit Before Tax |
|
|
(583.800) |
|
Tax |
|
|
(105.100) |
|
Provisions and contingencies |
|
|
0.000 |
|
Profit After Tax |
|
|
(478.700) |
|
Extraordinary Items |
|
|
0.000 |
|
Prior Period Expenses |
|
|
0.000 |
|
Other Adjustments |
|
|
0.000 |
|
Net Profit |
|
|
(478.700) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(1.25)
|
(0.67) |
2.82 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(1.74)
|
(1.02) |
3.86 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.31)
|
(1.45) |
4.53 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.08)
|
(0.04) |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.18
|
0.90 |
0.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.80
|
0.83 |
0.83 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
No |
|
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
(Rs.
in Millions)
|
Particulars |
As
on 31.03.2013 |
As
on 31.03.2012 |
|||||||||||||||||||||
|
LONG TERM
BORROWINGS |
|
|
|||||||||||||||||||||
|
Term Loans from banks |
0.000 |
750.000 |
|||||||||||||||||||||
|
Inter Corporate Deposits |
7.900 |
7.900 |
|||||||||||||||||||||
|
10.42% Non-convertible Debentures (150 Nos. debentures of Rs. 0.10 Crore each alloted on September 17, 2010 and repayable at the end of fifth year) |
150.000 |
150.000 |
|||||||||||||||||||||
|
10.00% Non-convertible Debentures (150 Nos. debentures of Rs. 0.10 Crore each alloted on September 17, 2010 and repayable at the end of fourth year) |
150.000 |
150.000 |
|||||||||||||||||||||
|
9.60% Non-convertible Debentures (200 Nos. debentures of Rs. 0.10 Crore each alloted on September 17, 2010 and repayable at the end of third year) |
200.000 |
200.000 |
|||||||||||||||||||||
|
Fixed Deposits from Public |
370.100 |
286.700 |
|||||||||||||||||||||
|
SHORT TERM
BORROWINGS |
|
|
|||||||||||||||||||||
|
From Banks |
442.000 |
300.000 |
|||||||||||||||||||||
|
Total |
1320.000 |
1844.600 |
|||||||||||||||||||||
|
|
|||||||||||||||||||||||
OPERATIONS:
The gross sales and other income for the year ended March 31, 2013 was Rs. 515.500 Millions as against Rs. 48506.000 Millions for the previous year. The Company incurred a loss before tax of Rs. 829.900 Millions and net loss of Rs. 594.800 Millions during the year ended March 31, 2013 as against loss before tax of Rs. 459.900 Millions and net loss of Rs. 300.100 Millions during the year ended March 31, 2012, primarily due to depressed markets, increased power and fuel costs, higher freight charges and subdued realisations.
For the year ended March 31, 2013, the consolidated net loss of the Company and its subsidiary companies amounted to Rs. 624.700 Millions as against a net loss of Rs. 184.400 Millions for the previous year.
FINANCE
The Company has repaid loans of Rs. 4917.100 Millions during the year and tied-up fresh loans of Rs. 8035.000 Millions to finance, inter alia, its ongoing long term working capital and capital expenditure during the year. The total borrowings of the Company stood at Rs. 16093.000 Millions as on March 31, 2013.
The loans were used for the purpose that they were sanctioned for by the
respective banks/financial institutions.
MANAGEMENT DISCUSSION
AND ANALYSIS
Business Environment
After the global financial crisis of 2008-09, the Indian economy grew strongly in excess of 8.5% per annum for the next two years due to fiscal and monetary stimulus. However, with high inflation rates, the Reserve Bank of India started raising policy rates in March 2010. High rates and policy constraints adversely impacted investment and as a result the economy grew only 6.2% in 2011-12. In 2012-13, the growth rate further slowed down and the economy is expected to have grown at only 5.0%, lowest since a decade. Manufacturing sector is expected to have just marginally grown at 1.9% during the year. Thus, on the whole, it was a year of economic uncertainties and weak sentiments. The Government of India is taking measures to stabilise the economy and revive the sentiments which are expected to have positive effects for the economy in medium to long-term.
Prism Cement Limited is one of India's leading building materials' company. In the above economic backdrop, the Company achieved a consolidated sales turnover of Rs.521.200 Millions, resulting in a growth of 6.5%. The consolidated Profit before Depreciation, Interest and Tax (EBITDA) of the Company was Rs. 3230.000 Millions, thereby marginally growing by 1.7% as compared to the last year.
The Company is organised into three key Divisions, viz. Prism Cement, H & R Johnson (India) and RMC Readymix (India).
India is a growing economy and sectors such as housing, industrial infrastructure and commercial infrastructure are expected to grow at a healthy rate in the medium to long-term. This augurs well for the building materials sector and as one of the leading building materials' company with a wide array of products from cement, readymixed concrete, tiles, bath products and kitchens to agglomerated marble & quartz, the Company is well positioned to take advantage of the growth opportunities.
Cement Division
Overview
The Indian cement industry experienced subdued demand growth during the year under review. Cement demand and prices demonstrated an unusual trend. Unlike every year, demand and prices remained robust during the monsoons and declined post monsoon when they were expected to improve. Construction activities remained muted owing to various reasons. Prolonged monsoon, heavy winter and delay in execution of infrastructural projects due to environmental hurdles led to lower cement demand growth in FY 2012-13. Slowdown in the housing sector due to rising interest rates also impacted cement off-take.
Going forward, cement demand will largely be driven by the increased focus of the government on the infrastructure development and promotion of low-cost affordable housing in the country. With government impetus provided to the infrastructure and construction segments in the 12th Five Year Plan period (2012-17) and the release of funds for road projects, demand for cement is expected to gather momentum. An increase in housing and commercial projects, particularly in the semi-urban and rural areas, is expected to further boost cement demand.
Performance
The year under review has been tough for the Cement Division of the Company. Weak cement demand and depressed prices, resulting primarily from deceleration in construction activity and government spending on infrastructure projects, led to a muted growth. The margins were further impacted adversely with the rising input and freight costs coupled with higher power and fuel prices.
There was a temporary blip in volumes during the 1st quarter of FY 2012-13 due to suspension of clinker production in Unit II at Satna as a result of an unfortunate accident in the Blending Silo. The Company resumed clinker production in July 2012 by installation of an intermediate system. The construction of the new silo at Unit II at Satna is at an advanced stage, upon completion of which production of clinker will normalise.
|
|
Year ended March 31, 2013 |
Year ended March 31, 2012 |
|
Production (cement) -Lakh Tonnes |
47.18 |
47.52 |
|
Sales volume (cement and clinker) - Lakh Tonnes |
47.65 |
51.87 |
|
Net Revenue - Rs in Million |
18820.000 |
17140.000 |
|
PBDIT - Rs in Million |
1620.000 |
1250.000 |
Expansions
Mine development activities for the cement plant at Kurnool District, Andhra Pradesh are in progress. Project activities will be taken up at an appropriate time.
The basic infrastructure work, other intermediary and ancillary activities and work on the incline is under progress at the Coal Block at Chhindwara, Madhya Pradesh. The construction of the ancillary buildings such as workshop, substation, etc., is nearing completion. The mined coal will be used for captive consumption of the cement plant located at Satna, Madhya Pradesh.
Future Outlook
Cement demand is expected to steadily grow in the near future through the revival of economic activity by the government especially through investment in infrastructure projects. Cement prices are estimated to remain almost stable in 2013-14. Decent economic growth, rising income levels of a growing middle class, tax incentives and the new generation desire towards home ownership will continue to boost the housing demand and real estate related to the retail segment. The measures announced in the recent budget also indicate continued support of the government to the affordable housing segment which will help the real estate sector to continue its growth momentum and in turn cement demand.
RMC Readymix (India)
Division (RMC)
Overview
The RMC Readymix (India) Division of the Company is amongst the top three readymixed concrete manufacturers with a pan-India presence. RMC operates 88 concrete plants and 9 aggregate crushers spread across 37 locations in the country. The concrete plants are used for commercial purpose as well as for captive consumption of infrastructure/large commercial and residential projects.
The readymixed concrete industry in India is less than 20 years old and has been growing at a hectic pace. The industry volume is in excess of 35 million M3/ annum currently. At present around 10% of the total cement consumed for concrete is routed through the readymixed concrete channel which is significantly lower than the international norms. The major volume drivers for the product have been:
· Growth of cement consumption in India
· Conversion from Site-mix to Ready-mix
|
|
Year ended |
Year ended |
|
|
March 31, 2013 |
March 31, 2012 |
|
Net Revenue - Rs in Million |
11280.000 |
11340.000 |
|
PBDIT - Rs in Million |
490.000 |
560.000 |
Expansions
Considering the current economic scenario, RMC has decided to be cautious with its growth plans. It has identified certain relatively stronger markets and is working on its development plans in these markets. RMC will cater to the new locations by relocating its existing assets thereby putting them to their best possible use on one hand and reducing capital investment on the other. RMC saw a net growth of one concrete plant during the current year.
Future Outlook
The government is expected to give greater impetus to infrastructure development and is planning $1 Trillion investments in infrastructure over the next 5 years. This will help construction activities. At the same time, the proposed changes in land acquisition laws and action by the government to clear permissions at a faster pace are expected to give further push to construction activities. The increase in construction activities will help RMC as it will result in better opportunities to utilise its advantages like a pan-India presence, large capacity, loyal customers, backward integrations, etc.
RMC continues to be focused on developing its Aggregate business and is actively looking at newer sites to develop the business.
CONTINGENT
LIABILITIES:
· Guarantees given by the Company's bankers and counter guaranteed by the Company: Rs. 861.200 Millions (Previous year : Rs. 782.900 Millions)
· Claims against the Company not acknowledged as debts :
o Dispute in respect of exemption of Central Sales Tax on coal purchases: Rs. 75.600 Millions (Previous year : Rs. 75.600 Millions). Against this matter, bank guarantee of Rs. 77.000 Millions (Previous year : Rs. 77.000 Millions) has been provided by the Company.
o Energy Development Cess disputed Rs. 74.400 Millions (Previous year : Rs. 74.400 Millions)
o Additional Royalty Claim on limestone raised disputed Rs. 228.700 Millions (Previous year : Rs. 200.800 Millions)
o Tax on Rural and Road Development disputed Rs. 67.900 Millions (Previous year : Rs. 52.700 Millions)
o Other Claims in respect to Income Tax, Sales Tax, Entry Tax, Excise Duty and other claims Rs. 782.200 Millions. (Previous year : Rs. 463.300 Millions)
STATEMENT OF STANDALONE UNAUDITED RESULTS For the quarter ended June
30,2013
(Rs. in Millions)
|
Particulars |
30.06.2013 |
|
|
Unaudited |
|
Sales of products and services |
12305.100 |
|
Less: ExcisB Duty |
994.000 |
|
Net Sales |
11311.100 |
|
Income from Joint Ventures/Subsidiaries - Dividend |
- |
|
Other Income from operations |
28.600 |
|
Total Income from
operations (net) |
11339.700 |
|
Expenses: |
|
|
Cost of materials consumed |
2968.600 |
|
Purchases of stock-in-trade |
2006.400 |
|
Stores and spares consumed |
195.700 |
|
Power & fuel |
2091.200 |
|
Employee benefits expense |
718.000 |
|
Freight outward |
1569.000 |
|
Changes in inventories of finished goods, |
|
|
work-in-progress and stock-in-trade |
(509.400) |
|
Depreciation and amortisation expense |
427.900 |
|
Other expenses |
1904.600 |
|
Total Expenses |
11392.200 |
|
Profit/(Loss) from operations before Other income, |
|
|
Finance cost and Exceptional items |
(52.500) |
|
Other Income |
17.400 |
|
Profit/(Loss) before Finance cost and Exceptional items |
(35.100) |
|
Finance cost |
548.700 |
|
Profit/(Loss) before Exceptional items |
(583.800) |
|
Exceptional items : |
|
|
Profit/(Loss) on disposal of assets and investments |
|
|
Profit/(Loss)
before Tax |
(583.800) |
|
Tax expenses |
(105.100) |
|
Net Profit/(Loss)
after Tax |
(478.700) |
|
Paid-up Equity Share Capital (Rs. 10/- per share) |
5033.600 |
|
Reserves excluding revaluation reserves |
|
|
EPS - (Basic,
diluted and not annualized) (Rs.) |
(0.97) |
|
Select Information for
the Quarter ended June 30 2013 |
|
|
(A) Particulars of Shareholding |
|
|
Public Shareholding
: |
|
|
Number of Shares |
12,64,75,411 |
|
Percentage of shareholding |
25.13 |
|
Promoters and
promoter group shareholding : |
|
|
a) Pledged / encumbered
: |
|
|
Number of shares |
|
|
Percentage of shares (as a % of the total shareholding of promoter and promoter group) |
|
|
Percentage of shares (as a % of the total share capital of the Company) |
|
|
b) Non-encumbered : |
|
|
Number of shares |
37 68,81 169 |
|
Percentage of shares (as a % of the total shareholding of promoter and promoter group) |
100.00 |
|
Percentage of shares (as a % of the total share capital of the Company) |
74.87 |
|
B) Investor Complaints |
|
|
Pending at the beginning of the Quarter |
Nil |
|
Received during the Quarter |
4 |
|
Disposed off during the Quarter |
4 |
|
Remaining unresolved at the end of the Quarter |
Nil |
Notes:
1. The above statement has been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on July 25, 2013. The Statutory Auditors have carried out the limited review of the results for the quarter ended June 30, 2013.
2. Earning Per Share (EPS) has been computed without considering 1,23,51,600 equity shares of the Company held in a Trust for the benefit of the Company and dividend income received on the said shares.
3. Figures of the previous periods have been regrouped wherever necessary.
STANDALONE SEGMENTWISE REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE
QUARTER ENDED JUNE 30, 2013
(Rs. in Millions)
|
Particulars |
30.06.2013 |
|
|
Unaudited |
|
Segment Revenue |
|
|
a) Cement |
4829.600 |
|
b) TBK |
3858.000 |
|
c)RMC |
2693.500 |
|
Total |
11381.100 |
|
Less : Inter Segment Revenue |
41.400 |
|
Net Sales / Income
from operations |
11339.700 |
|
Segment Results |
|
|
a) Cement |
02.000 |
|
b) TBK |
(59.700) |
|
c) RMC |
05.200 |
|
Total |
(52.500) |
|
Less: (i) Finance cost |
548.700 |
|
(ii) Other Un-allocable expenditure net of |
|
|
un-allocable income |
(17.400) |
|
Total Profit /
(Loss) Before Tax |
(583.800) |
|
Capital employed |
|
|
a) Cement |
15466.100 |
|
b) TBK |
3888.000 |
|
c) RMC |
2429.400 |
|
d) Unallocated |
(16365.000) |
|
Total |
10418.500 |
Notes:
· The Company has identified primary segments based on the products and does not have any secondary segments. The primary reportable segments identified are Cement, TBK (Tile, Bath & Kitchen) and RMC (Readymixed Concrete). Segment revenue, segment expenses, segment assets and segment liabilities have been identified to segments on the basis of their relationship to the operating activities of the segment. Revenue, expenses, assets and liabilities, which relate to the Company as a whole and are not allocable to segments on reasonable basis have been included under "Unallocated revenue / expenses / assets / liabilities".
· Figures of the previous periods have been regrouped wherever necessary.
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10450498 |
27/09/2013 |
2,000,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
B85542926 |
|
2 |
10446697 |
22/08/2013 * |
1,000,000,000.00 |
Standard Chartered Bank |
6-3-1090, Raj Bhavan Road, Somajiguda, SCGB,, Hyderabad, Andhra Pradesh - 500082, INDIA |
B84706340 |
|
3 |
10444063 |
21/08/2013 |
1,500,000,000.00 |
Axis Trustee Services Limited |
Axis House, 2nd Flr, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai, Maharashtra - 400025, INDIA |
B82576646 |
|
4 |
10435003 |
15/06/2013 |
350,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. |
B78821550 |
|
5 |
10416264 |
18/03/2013 |
610,000,000.00 |
IDBI Bank Limited |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, Maharashtra - 400005, INDIA |
B72148570 |
|
6 |
10396371 |
28/12/2012 |
200,000,000.00 |
THE RATNAKAR BANK LIMITED |
SHAHUPURI, KOLHAPUR, Maharashtra - 416001, INDIA |
B65676892 |
|
7 |
10393103 |
26/06/2013 * |
900,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
B78168598 |
|
8 |
10393105 |
26/08/2013 * |
1,250,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
B83623868 |
|
9 |
10393108 |
26/08/2013 * |
250,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
B83625434 |
|
10 |
10383076 |
26/08/2013 * |
900,000,000.00 |
ING VYSYA BANK LIMITED |
22, M G ROAD,BANGALORE, BANGALORE, Karnataka - 560001, INDIA |
B83437525 |
|
11 |
10383080 |
26/08/2013 * |
600,000,000.00 |
ING VYSYA BANK LIMITED |
22, M G ROAD,BANGALORE, BANGALORE, Karnataka - 560001, INDIA |
B83479790 |
|
12 |
10380711 |
26/08/2013 * |
1,250,000,000.00 |
Axis Trustee Services Limited |
Axis House, 2nd Flr, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli,, Mumbai, Maharashtra - 400025, INDIA |
B82937236 |
|
13 |
10384185 |
12/10/2012 |
190,000,000.00 |
VIJAYA BANK |
PEARL QUEEN BLDG, NORTH AVENUE ROAD, SANTACRUZ WEST, MUMBAI, Maharashtra - 400054, INDIA |
B61199576 |
|
14 |
10384740 |
12/10/2012 |
400,000,000.00 |
YES BANK LIMITED |
NEHRU CENTER, 9TH FLOOR, DISCOVERY OF INDIA, DR. A. B.
ROAD, WORLI, MUMBAI, Maharashtra - 400018, |
B61477626 |
|
15 |
10375103 |
17/08/2012 |
150,000,000.00 |
ING VYSYA BANK LIMITED |
22, GROUND FLOOR,ING VYSYA HOUSE, M.G.ROAD,, BANGALORE, Maharashtra - 560001, INDIA |
B57526881 |
|
16 |
10363430 |
26/08/2013 * |
288,100,000.00 |
ICICI BANK LIMITED |
ICICI BANK TOWER, NBCC PALACE, BHISM PITAMAH MARG, NEW DELHI, Delhi - 390015, INDIA |
B83681395 |
|
17 |
10358864 |
30/04/2012 |
500,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17, R.Kamani Marg, Ballard Estate, MUMBAI, Maharashtra - 400001, INDIA |
B40851081 |
|
18 |
10345073 |
28/12/2012 * |
450,000,000.00 |
ING VYSYA BANK LIMITED |
NARIAN MANZIL, GROUND FLOOR, SHOP NO. G1 TO G5, I |
B66626284 |
|
19 |
10338750 |
28/02/2012 |
1,500,000,000.00 |
Axis Trustee Services Limited |
Axis House, 2nd Flr, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli,, Mumbai, Maharashtra - 400025, INDIA |
B33509142 |
|
20 |
10343837 |
10/02/2012 |
200,000,000.00 |
IDBI Bank Limited |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, Maharashtra - 400005, INDIA |
B35680875 |
|
21 |
10313794 |
11/10/2011 |
1,000,000,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL and FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA, KURLA
COMPLEX BANDRA EAST, MUMBAI, Maharashtra |
B22660724 |
|
22 |
10317308 |
23/09/2011 |
1,325,000,000.00 |
INDIAN OVERSEAS BANK |
Arjun Towers, Gokhale Road, Naupada, Thane, Maharashtra - 400602, INDIA |
B25173329 |
|
23 |
10308706 |
21/09/2011 |
1,250,000,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL and FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA,
KURLA COMPLEX BANDRA EAST, MUMBAI, Maharashtra |
B20905808 |
|
24 |
10302495 |
18/08/2011 |
4,500,000,000.00 |
Axis Trustee Services Limited |
Axis House, 2nd Flr, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli,, Mumbai, Maharashtra - 400025, INDIA |
B18918599 |
|
25 |
10288515 |
27/05/2011 |
1,300,000,000.00 |
State Bank of India |
Corporate Accounts Group Branch, "Neville House", J. N. Heredia Marg, Ballard Estate, Mumbai, Maharashtra - 400001, INDIA |
B13582804 |
|
26 |
10269364 |
15/11/2010 |
1,000,000,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL and FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA,
KURLA COMPLEX BANDRA EAST, MUMBAI, Maharashtra |
A98941453 |
|
27 |
10254379 |
12/11/2010 |
200,000,000.00 |
Axis Bank Limited |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW G |
B00790782 |
|
28 |
10254952 |
28/10/2010 |
500,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. |
B01145325 |
|
29 |
10243381 |
18/03/2013 * |
450,000,000.00 |
VIJAYA BANK |
Pearl Queen Apartment, North Avenue Road, Santacruz (West), Mumbai, Maharashtra - 400054, INDIA |
B70764691 |
|
30 |
10234009 |
20/08/2010 |
1,300,000,000.00 |
AXIS BANK LTD |
CREDIT MANAGEMENT CENTRE, UNIT NO 6,, CORPORATE PARK, SION-TROMBAY ROAD,CHEMBUR, MUMBAI, Maharashtra - 400071, INDIA |
A91915371 |
|
31 |
10230520 |
09/04/2011 * |
300,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
B11495835 |
|
32 |
10167127 |
21/01/2010 * |
5,000,000,000.00 |
Axis Trustee Services Limited |
MAKER TOWERS 'F', 13TH FLOOR, CUFFE PARADE, COLABA, MUMBAI, Maharashtra - 400005, INDIA |
A76878024 |
|
33 |
10135574 |
17/11/2008 |
200,000,000.00 |
Axis Bank Limited |
Nariman Point Branch, Atlanta, Ground floor,, Nariman Point,, MUMBAI, Maharashtra - 400021, INDIA |
A53241261 |
|
34 |
10107914 |
31/03/2008 |
100,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. |
A40269615 |
|
35 |
90145625 |
17/08/2012 * |
150,000,000.00 |
ING VYSYA BANK LIMITED |
22,GROUND FLOOR, ING VYSYA HOUSE,, M.G.ROAD, BANG |
B57521791 |
|
36 |
90231605 |
04/04/1988 |
950,000.00 |
NEW INDIA CO-OPERATIVE BANK LTD. |
NAVKETAN BUILDING, AVENUE ROAD, BOMBAY, Maharashtra - 400071, INDIA |
- |
|
37 |
90231581 |
01/04/1987 |
1,500,000.00 |
NEW INDIA CO-OP. BAN LTD. |
NAVKETAN BLDG., CANTRAL AVENUE ROAD, BOMBAY, Maharashtra - 400071, INDIA |
- |
|
38 |
90231557 |
08/05/1986 |
3,000,000.00 |
THE NORTH KANARA CAUD SARASWAT CO-OPERATIVE BANK L |
361; LAXMI SADAN; V. P. ROAD, BOMBAY, Maharashtra - 400004, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
Tangible Assets:
· Land - Freehold
- Leasehold
· Buildings
· Railway siding
· Plant and machinery
· Mines Development
· Furniture, fixtures and computers
· Vehicles
· Office Equipments
· Truck Mixers, Loaders and Truck Dumpers
Intangible Assets:
· Software
· Intellectual property rights
· Mining Lease - surface rights
· Minerals Procurement rights
AS PER WEBSITE DETAILS:
PRESS RELEASES:
RBS BUYS 55.47 LAKH SHARES OF PRISM CEMENT
Oct 15, 2013
On October 14, 2013 Jupiter - FD382 (UT) - The RBS PLC As Tru Jupiter India FD bought
29,95,694 shares of Prism Cement at Rs 27.40 on the BSE and bought 25,52,159
shares at Rs 27.40 on the NSE.
In the previous trading session, the share closed at Rs 28.25, up Rs 0.35, or 1.25 percent.
The share touched its 52-week high Rs 60 and 52-week low Rs 22.85 on 07 November, 2012 and 07 August, 2013, respectively.
PRISM CEMENT: UPDATES ON DIVIDEND DECLARE BY FOREIGN SUBSIDIARY
Sep 24, 2013
Prism Cement Ltd has informed BSE that Lifestyle Investments Pvt Limited
(LIPL), the Company's wholly-owned foreign subsidiary, has declared a dividend
on equity shares. Prism Cement Limited shall receive an amount of GBP 12.5
million as dividend on the equity shares held in LIPL.
PRISM CEMENT'S FOREIGN SUBSIDIARY SELLS ITS STAKE IN NORCROS PLCFOR FOR
GBP 26.55 MN
Sep 19, 2013
With reference to the earlier announcement dated September 19, 2013 regarding
sale of shares of Norcros Plc by Lifestyle Investments Pvt Limited (LIPL), the
Company’s wholly-owned foreign subsidiary, Prism Cement Ltd has now informed
BSE that the number of shares should read as 145,707,247 shares. The revised
announcement should read as under :"Lifestyle Investments Pvt Limited
(LIPL), the Company’s wholly-owned foreign subsidiary, has sold its present
holding of 145,707,247 shares in Norcros Plc, a Company listed on the London
Stock
Exchange for a net consideration of GBP 26.55 million. Post the sale, LIPL does not hold any shares of Norcros Plc. LIPL's capital gain on this transaction would be approx. GBP 12.8 million.
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.61.28 |
|
|
1 |
Rs.99.03 |
|
Euro |
1 |
Rs.83.80 |
INFORMATION DETAILS
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.