MIRA INFORM REPORT
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Report Date : |
23.10.2013 |
IDENTIFICATION DETAILS
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Name : |
AARTI INDUSTRIES LIMITED |
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Formerly Known
As : |
AARTI ORGANICS LIMITED |
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Registered
Office : |
Plot No. 801/23,
G.I.D.C. Estate, Phase III, Vapi – 396 195, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
28.09.1984 |
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Com. Reg. No.: |
04-007301 |
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Capital Investment
/ Paid-up Capital : |
Rs.395.600 Millions |
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CIN No.: [Company Identification
No.] |
L24110GJ1984PLC007301 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
SRTA02524E |
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PAN No.: [Permanent Account No.] |
AABCA2787L |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturer of Various Agrochemicals Intermediates. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
A (62) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 27000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
It is well-established and reputed company having fine track record. Profit margins of the company reported to be fair. Overall fundaments
of the company appears to be strong 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 good for business dealings of 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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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A1 |
A1 |
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Risk Category |
ECGC Classification |
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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 India, on
social media this year, according to a global study by information technology
major Tata Consultancy Services. This will rise to $ 24 million in 2015.
Rising inflation,
fewer employment avenues and dwindling earnings are taking a toll on the
spending capacity in India. Over 72 % respondents from middle and lower middle
income families would be forced to slash their Diwali expenditure by 40 % and
on average spend nearly 25 % of their monthly salary on Diwali, according to a
survey by Assochem.
Analysts believe the
shutdown of the US government would have limited impact in sectors such as IT
or tourism that are dependent on Visa clearances.
EXTERNAL AGENCY RATING
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Rating Agency Name |
CRISIL |
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Rating |
Long term rating: “A+” |
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Rating Explanation |
Adequate credit quality and average credit risk. |
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Date |
16.08.2013 |
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Rating Agency Name |
CRISIL |
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Rating |
Short term rating: “A1” |
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Rating Explanation |
Very strong degree of safety and lowest credit risk. |
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Date |
16.08.2013 |
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
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Registered Office/ Factory 1 : |
Plot Nos. 801, 801/23, 802, 803, 804/1-2-3, 801/15 to 19, 21 & 22, GIDC Estate, Phase III, District Valsad, Vapi – 396195, , Gujarat |
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Tel. No.: |
91-2638-25690411/ 2/ 3/ 25918195/ 55976666 |
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Fax No.: |
91-2638-25904806/ 25653186-87/ 25653185 |
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E-Mail : |
secretarial@aartigroup.com |
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Website : |
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Corporate Office : |
Udyog Kshetra, II Floor, L.B.S. Marg, Mulund – |
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Tel. No.: |
91-22-67976666/ 67976697/ 25918195/ 55976666 |
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Fax No.: |
91-22-25653234/ 25653185 |
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E-Mail : |
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Factory 2: |
Plot No. 902, GIDC Estate, Phase II, District Valsad, Vapi – 396195, Gujarat, India |
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Factory 3: |
Plot No. 286/1, 285, GIDC Estate, Phase II, District Valsad, Vapi – 396195, Gujarat, India |
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Factory 4: |
Plot No. 22 / C / 1 & 2, GIDC Estate, Phase I, District Valsad, Vapi – 396195, Gujarat, India |
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Factory 5: |
Shed No. A1-6&9, GIDC Estate, Phase I, District Valssad, Vapi – 396195, Gujarat, India |
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Factory 6 : |
Plot No. 609 & 610, GIDC Estate, 100 Shed, District Valsad, Vapi – 396195, Gujarat, India |
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Factory 7: |
Plot Nos. 750-754, Sarigam Industrial Area, Sarigam, Taluka
Umargaon, District Valsad, Gujarat, India |
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Factory 8: |
Plot Nos. 2701, 2703 Sarigam Industrial Area, Sarigam,
Taluka Umargaon, District Valsad, Gujarat, India |
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Factory 9: |
Plot Nos. 2604, 2605 Sarigam Industrial Area, Sarigam,
Taluka Umargaon, District Valsad, Gujarat, India |
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Factory 10: |
Plot Nos. 758/1, 2 & 3, Jhagadia Mega Estate, Village
Kapalsadi, Taluka Jhagadia, District Bharuch, Gujarat, India |
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Factory 11: |
Plot Nos. 756/2 A&B, 756/3 A&B, 756/4 A&B, 756/5 A&B, 756/6 A&B, 756/7, 779, Jhagadia Mega Estate, Village Kapalsadi, Taluka Jhagadia, District Bharuch, Gujarat, India |
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Factory 12: |
Survey No. 1430/1, NH-8, Bhachau, Kutch, Gujarat, India |
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Factory 13: |
Plot No. D-18, MIDC, Tarapur, District Thane, Maharashtra, India |
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Factory 14: |
Plot No. E-50, MIDC, Tarapur, District Thane, Maharashtra, India |
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Factory 15: |
Plot No. K - 17/18/19, MIDC, Tarapur, District Thane, Maharashtra, India |
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Factory 16: |
Plot No. L – 5, MIDC, Tarapur, District Thane, Maharashtra, India |
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Factory 17: |
Plot No. L – 8, MIDC, Tarapur, District Thane, Maharashtra, India |
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Factory 18: |
Survey No. 193/1/4, 193/1/5, 193/1/6, Silvassa, Union Territory of Silvassa, India |
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Factory 19: |
Plot No. D – 53/54/60, MIDC, Phase II, Dombivali (East), District Thane, Maharashtra, India |
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Factory 20: |
Plot Nos. 62, 63 & 64, Sagore, Pithampur Industrial Area, Sector-3, Pithampur, DistrictDhar, Madhya Pradesh, India |
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. Chandrakant V. Gogri |
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Designation : |
Chairman |
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Name : |
Mr. Rajendra V. Gogri |
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Designation : |
Chairman and Managing Director |
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Date of Appointment : |
16.08.2012 |
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Name : |
Mr. Shantilal T. Shah |
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Designation : |
Vice Chairman |
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Date of Birth/Age : |
28.12.1938 |
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Qualification : |
B.Com. |
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Date of Appointment : |
25.04.1990 |
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Other Directorship : |
· Dhaval Realtors (India) Private Limited · Crystal Millennium Realtors Private Limited · Aarti Ventures Limited · The Dharamsi Morarji Chemical Company Limited · Aarti Corporate Services Limited · Radiant Entertainments Private Limited · Unidus Developers and Logistics Private Limited · Nascent Chemical Industries Limited · Aarti Specialties Limited · Kucchhi Realtors adn Developers Private Limited |
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Name : |
Mr. Rashesh C. Gogri |
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Designation : |
Vice Chairman and Managing Director |
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Date of Birth/Age : |
03.06.1974 |
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Qualification : |
Industrial Engineer and holds Diploma in Business Management |
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Date of Appointment : |
16.08.2012 |
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Name : |
Mr. Ramdas M. Gandhi |
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Designation : |
Independent Director |
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Date of Birth/Age : |
14.03.1933 |
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Qualification : |
L.L.M, Solicitor. |
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Date of Appointment : |
29.01.1990 |
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Other Directorship : |
· Vinyl Chemicals (India) Limited · Unichem Laboratories Limited · Aarti Drugs Limited · Pidilite Industries Limited · Nascent Chemical Industries Limited |
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Name : |
Mr. Laxmichand K. Jain |
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Designation : |
Independent Director |
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Date of Birth/Age : |
02.03.1941 |
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Qualification : |
MS (Chem.) US |
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Date of Appointment : |
29.01.1990 |
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Name : |
Mr. Vijay H. Patil |
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Designation : |
Independent Director |
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Date of Birth/Age : |
15.07.1937 |
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Qualification : |
L.L.M. |
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Date of Appointment : |
29.01.1990 |
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Name : |
Mr. Haresh K. Chheda |
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Designation : |
Independent Director |
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Name : |
Mr. K. V. S. Shyam Sunder |
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Designation : |
Independent Director |
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Date of Birth/Age : |
29.07.1942 |
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Name : |
Mr. P A Sethi |
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Designation : |
Independent Director |
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Name : |
Mr. Bhavesh R Vora |
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Designation : |
Independent Director |
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Date of Birth/Age : |
13.09.1967 |
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Name : |
Mr. Sunil M Dedhia |
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Designation : |
Independent Director |
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Date of Birth/Age : |
20.06.1965 |
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Qualification : |
B. Com., A.C.A., F.C.S. |
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Date of Appointment : |
30.07.2009 |
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Name : |
Mr. Parimal H. Desai |
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Designation : |
Whole time Director |
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Date of Birth/Age : |
29.05.1949 |
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Name : |
Mr. Manoj M. Chheda |
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Designation : |
Whole Time Director |
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Date of Birth/Age : |
23.10.1962 |
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Qualification : |
B. Com |
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Date of Appointment : |
25.11.1993 |
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Name : |
Ms. Hetal Gogri Gala |
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Designation : |
Whole Time Director |
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Date of Birth/Age : |
10.07.1975 |
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Qualification : |
B. E (Electronics) and MEP degree from IIM Ahmedabad. |
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Date of Appointment : |
01.11.2001 |
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Other Directorship : |
· Ganesh Polychem Limited · Gogri and Sons Investments Private Limited · Alchemie Dye Chem Private Limited · Anushakti Chemicals and Drugs Limited · Anushakti Holdings Limited · Gogri Finserv Private Limited |
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Name : |
Mr. Kirit R. Mehta |
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Designation : |
Whole Time Director |
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Date of Birth/Age : |
02.08.1948 |
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Qualification : |
B. Com. |
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Date of Appointment : |
18.09.2000 |
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Name : |
Renil R. Gogri |
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Designation : |
Whole Time Director |
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Date of Birth/Age : |
14.04.1987 |
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Qualification : |
B.E. (IIT MUMBAI), 2008 |
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Date of Appointment : |
16.08.2012 |
KEY EXECUTIVES
|
Name : |
Ms. Mona Patel |
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Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2013
|
Category of
Shareholder |
Total
No. of Shares |
As a % |
|
(A) Shareholding of Promoter and Promoter Group |
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|
31612885 |
35.68 |
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|
21545352 |
24.32 |
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53158237 |
60.00 |
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|
86148 |
0.10 |
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|
86148 |
0.10 |
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Total shareholding of Promoter and Promoter Group (A) |
53244385 |
60.10 |
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(B) Public Shareholding |
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|
6564856 |
7.41 |
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|
8218 |
0.01 |
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|
51087 |
0.06 |
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|
6624161 |
7.48 |
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|
1102641 |
1.24 |
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|
11455221 |
12.93 |
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|
15614758 |
17.63 |
|
|
550521 |
0.62 |
|
|
144633 |
0.16 |
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|
300 |
0.00 |
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|
405588 |
0.46 |
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|
28723141 |
32.42 |
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Total Public shareholding (B) |
35347302 |
39.90 |
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Total (A)+(B) |
88591687 |
100.00 |
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(C) Shares held by Custodians and against which Depository Receipts
have been issued |
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|
|
0 |
0.00 |
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|
0 |
0.00 |
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|
0 |
0.00 |
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Total (A)+(B)+(C) |
88591687 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Various Agrochemicals Intermediates. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
· Bank of Baroda · Union Bank of India · State Bank of India · DBS Bank Limited · Standard Chartered Bank · HDFC Bank Limited · Export-Import Bank of India · IDBI Bank Limited · Citi Bank N.A. · Axis Bank Limited · Vysya Bank Limited · ING Vysya Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
· IDBI Trusteeship Services Limited · Siemens Financial Services Private Limited |
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Auditors : |
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Name : |
Parikh Joshi and Kothare Chartered Accountants |
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Address : |
49/2341, M. H. B. Colony, Gandhi Nagar, Bandra (East),
Mumbai – 400 051, |
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Subsidiaries : |
· Aarti Corporate Services Limited · Nascent Chemical Industries Limited(Through its holding · Company: Aarti Corporate Services Limited) · Shanti Intermediates Private Limited(Through its holding Company: Aarti Corporate Services Limited) · Anushakti Specialties Limited Liability Partnership |
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Associates : |
· Ganesh Polychem Limited · Anushakti Chemicals and Drugs Limited · Anushakti Holdings Limited · Alchemie (Europe) Limited |
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Enterprises/Firms
over which controlling individuals/Key Management Personnel, of the Company
along with their relatives, have significant influence : |
· Alchemie Pharma Chem Limited · Alchemie Industries · Gogri and Sons Investments Private Limited · Alchemie Leasing and Financing Private Limited · Alchemie Laboratories · Aarti Drugs Limited · Alchemie Dye Chem Private Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125000000 |
Equity Shares |
Rs.5/- each |
Rs.625.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
79120073 |
Equity Shares |
Rs.5/- each |
Rs.395.600
Millions |
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Reconciliation of the
number of shares outstanding as on 31st March, 2013:
|
Particulars |
No. of Shares outstanding |
|
As at 31st March, 2013 |
|
|
Equity shares at the beginning of the year |
79,120,073 |
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Add: Shares Issued during the year |
NIL |
|
Less: Shares buy back during the year |
NIL |
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Equity shares at the end of the year |
79,120,073 |
Details of
Shareholders holding more than 5% shares:
|
Name of Shareholder |
As at 31st March, 2013 |
|
|
No. of Shares held |
% held |
|
|
Anushakti Holdings Limited |
6,198,600 |
7.83 |
|
HDFC Trustee Company Limited – HDFC Prudence Fund |
6,132,810 |
7.75 |
|
Gogri and Sons Investments Private Limited |
4,844,613 |
6.12 |
|
Alchemie Leasing and Financing Private Limited |
4,341,655 |
5.49 |
The details of Equity
shares outstanding during last 5 Years:
|
Particulars |
Financial Year |
||||
|
2012-13 |
2011-12 |
2010-11 |
2009-10 |
2008-09 |
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|
No. of Equity Shares outstanding: |
79,120,073 |
79,120,073 |
76,720,073 |
76,720,073 |
72,809,424 |
Note on issued,
Subscribed and Paid up Equity Share Capital:
[a] 8,43,649 (previous year – 8,43,649) were issued to Shareholders of Surfactant Specialities Limited pursuant to its Merger with the Company.
[b] 42,000 (previous year – 42,000) were issued to Shareholders of Avinash Drugs Limited pursuant to its Merger with the Company.
[c] 30,25,000 (previous year – 30,25,000) were issued towards Preferential allotment at a premium of Rs. 30.65 paise to Warrantholders.
[d] 24,00,000 (previous year – 24,00,000) have been issued towards Preferential allotment at a premium of Rs. 53/- to Warrantholders.
SHARE CAPITAL PENDING
ALLOTMENT UPON SCHEME OF ARRANGEMENT
(Rs. In Millions)
|
Particulars |
As at 31st March, 2013 |
|
94,71,614 Shares are to be issued and allotted to shareholders of Anushakti Chemicals and Drugs Limited Pursuant to the terms of the Scheme of Arrangement approved by the Honorable High Courts at Ahmedabad and Bombay vide their order dated 8th March, 2013 and 8th February, 2013 respectively. |
47.358 |
|
Total |
47.358 |
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 |
395.600 |
395.600 |
383.600 |
|
(b) Reserves & Surplus |
6323.452 |
4730.967 |
4046.696 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
34.800 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
47.358 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
6766.410 |
5126.567 |
4465.096 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1167.407 |
1028.714 |
1360.504 |
|
(b) Deferred tax liabilities (Net) |
707.092 |
554.550 |
529.393 |
|
(c) Other long term
liabilities |
2.037 |
1.852 |
1.852 |
|
(d) long-term
provisions |
2171.661 |
1721.661 |
1398.661 |
|
Total Non-current
Liabilities (3) |
4048.197 |
3306.777 |
3290.410 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
6850.084 |
4823.304 |
3561.252 |
|
(b) Trade
payables |
2158.461 |
1746.102 |
1360.924 |
|
(c) Other
current liabilities |
637.629 |
475.052 |
364.901 |
|
(d) Short-term
provisions |
268.034 |
205.631 |
174.425 |
|
Total Current
Liabilities (4) |
9914.208 |
7250.089 |
5461.502 |
|
|
|
|
|
|
TOTAL |
20728.815 |
15683.433 |
13217.008 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
6640.988 |
4300.761 |
3856.607 |
|
(ii)
Intangible Assets |
1.273 |
31.600 |
63.200 |
|
(iii)
Capital work-in-progress |
620.083 |
544.223 |
184.461 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
185.952 |
210.711 |
187.621 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3126.240 |
2402.587 |
1901.898 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
10574.536 |
7489.882 |
6193.787 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
4621.230 |
3258.477 |
2940.882 |
|
(c) Trade
receivables |
4286.528 |
4069.481 |
3325.342 |
|
(d) Cash
and cash equivalents |
97.106 |
88.056 |
77.660 |
|
(e)
Short-term loans and advances |
896.438 |
595.128 |
549.093 |
|
(f) Other
current assets |
252.977 |
182.409 |
130.244 |
|
Total
Current Assets |
10154.279 |
8193.551 |
7023.221 |
|
|
|
|
|
|
TOTAL |
20728.815 |
15683.433 |
13217.008 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
20961.176 |
16733.107 |
14309.642 |
|
|
|
Other Income |
43.961 |
28.362 |
39.958 |
|
|
|
TOTAL (A) |
21005.137 |
16761.469 |
14349.600 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed (Incl. Packing,Fuel, Stores & Spares) |
12622.725 |
9787.576 |
7864.936 |
|
|
|
Purchases of Stock-in-Trade |
931.178 |
1404.861 |
1821.326 |
|
|
|
Employee Benefits Expenses |
636.137 |
455.227 |
388.680 |
|
|
|
Other Expenses |
3919.368 |
2874.431 |
2463.112 |
|
|
|
Changes in inventories of Finished Goods Work-in-Progress and Stock-in-Trade |
(710.689) |
(235.417) |
(163.328) |
|
|
|
TOTAL (B) |
17398.719 |
14286.678 |
12374.726 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (A-B) (C) |
3606.418 |
2474.791 |
1974.874 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
949.980 |
715.084 |
559.550 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2656.438 |
1759.707 |
1415.324 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
818.004 |
539.689 |
479.239 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
1838.434 |
1220.018 |
936.085 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
525.000 |
348.157 |
268.320 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
1313.434 |
871.861 |
667.765 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3433.084 |
2964.013 |
2587.356 |
|
|
|
|
|
|
|
|
|
Less |
Prior
Period Expenses |
-- |
-- |
1.030 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
110.740 |
118.680 |
95.900 |
|
|
|
Interim Dividend |
243.628 |
153.440 |
95.900 |
|
|
|
Tax on Dividend |
58.544 |
42.670 |
31.278 |
|
|
|
Transfer to General Reserve |
131.500 |
88.000 |
67.000 |
|
|
BALANCE CARRIED
TO THE B/S |
4202.106 |
3433.084 |
2964.013 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Export Sales |
9923.781 |
6839.823 |
5272.061 |
|
|
TOTAL EARNINGS |
9923.781 |
6839.823 |
5272.061 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
129.759 |
1263.094 |
1175.113 |
|
|
|
Stores & Spares |
2.085 |
7.048 |
3.923 |
|
|
|
Capital Goods |
129.759 |
64.191 |
10.035 |
|
|
|
Fuel |
155.232 |
22.615 |
208.260 |
|
|
TOTAL IMPORTS |
416.835 |
1356.948 |
1397.331 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
14.83 |
11.36 |
8.70 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
|
30.06.2013 |
|
Type |
|
|
1st
Quarter |
|
Net Sales |
|
|
5936.400 |
|
Total Expenditure |
|
|
5174.000 |
|
PBIDT (Excl OI) |
|
|
762.400 |
|
Other Income |
|
|
23.600 |
|
Operating Profit |
|
|
786.000 |
|
Interest |
|
|
263.600 |
|
Exceptional Items |
|
|
0.000 |
|
PBDT |
|
|
522.400 |
|
Depreciation |
|
|
202.100 |
|
Profit Before Tax |
|
|
320.300 |
|
Tax |
|
|
95.000 |
|
Provisions and contingencies |
|
|
0.000 |
|
Profit After Tax |
|
|
225.300 |
|
Extraordinary Items |
|
|
0.000 |
|
Prior Period Expenses |
|
|
0.000 |
|
Other Adjustments |
|
|
0.000 |
|
Net Profit |
|
|
225.300 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
6.25
|
5.20
|
4.65
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.77
|
7.29
|
6.54
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.23
|
8.17
|
7.29
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27
|
0.24
|
0.21
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.18
|
1.14
|
1.10
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.02
|
1.13
|
0.97
|
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 |
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10452990 |
18/09/2013 |
631,400,000.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
ASIAN BUILDING,
GROUND FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI - 400001,
MAHARASHTRA, INDIA |
B86628591 |
|
2 |
10424578 |
26/04/2013 |
541,200,000.00 |
STANDARD
CHARTERED BANK |
ABHIJEET II, GROUND
FLOOR, NEAR MITHAKALI SIX ROAD, AHMEDABAD - 380006, GUJARAT, INDIA |
B74713702 |
|
3 |
10406918 |
23/01/2013 |
275,000,000.00 |
CITIBANK N. A. |
KALAPURNAM, 1ST
FLOOR, NEAR MUNICIPAL MARKET, C. G. ROAD, NAVRANGPURA, AHMEDABAD - 380009,
GUJARAT, INDIA |
B69134021 |
|
4 |
10356963 |
31/03/2012 |
75,000,000.00 |
SIEMENS
FINANCIAL SERVICES PRIVATE LIMITED |
130, PANDURANG
BUDHKAR MARG, WORLI, MUMBAI - 400018, MAHARASHTRA, INDIA |
B40081291 |
|
5 |
10334511 |
12/12/2012 * |
400,000,000.00 |
DBS BANK LIMITED |
1ST FLOOR, FORT
HOUSE, DR. DN ROAD, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA |
B67020537 |
|
6 |
10330603 |
23/11/2011 |
280,800,000.00 |
ING VYSYA BANK
LIMITED |
MITTAL
TOWERS,A-WING,GROUND FLOOR, 210 NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA,
INDIA |
B30163976 |
|
7 |
10254542 |
30/11/2010 |
1,000,000,000.00 |
EXPORT IMPORT
BANK OF INDIA |
FLOOR 21, CENTRE
ONE BUILDING, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI - 400005,
MAHARASHTRA, INDIA |
B00914739 |
|
8 |
10242774 |
03/08/2010 |
509,300,000.00 |
STANDARD
CHARTERED BANK |
ABHIJEET II,
GROUND FLOOR, NEAR MITHAKALI SIX ROAD, AHMEDABAD - 380006, GUJARAT, INDIA |
A95199576 |
|
9 |
10156237 |
21/04/2009 |
6,450,000,000.00 |
THE HONGKONG AND
SHANGHAI BANKING CORPORATION LIMI |
PLOT NO.
139-140, WESTERN EXPRESS HIGHWAY,, SAHAR |
A61626685 |
|
10 |
10119867 |
12/12/2012 * |
600,000,000.00 |
UNION BANK OF
INDIA |
IND. FIN.
BRANCH, 1ST FLOOR, UNION BANK BHAVAN, 239, VIDHAN BHAVAN MARG, NARIMAN POINT,
MUMBAI - 400021, MAHARASHTRA, INDIA |
B66660002 |
|
11 |
10120202 |
12/12/2012 * |
550,000,000.00 |
IDBI BANK
LIMITED |
47 OPUS CENTER, MIDC
ANDHERI EAST, MUMBAI - 400093, MAHARASHTRA, INDIA |
B66957358 |
|
12 |
10121960 |
12/12/2012 * |
900,000,000.00 |
STATE BANK OF
INDIA |
CORPORATE CENTRE
AT STATE BANK BHAVAN, MADAM CAMA ROAD, NARIMAN POINT, MUMBAI - 400021,
MAHARASHTRA, INDIA |
B67300970 |
|
13 |
10121961 |
12/12/2012 * |
450,000,000.00 |
AXIS BANK
LIMITED |
KONARK DARSHAN,
NEXT TO JAIN MANDIR, ZAVER ROAD, MULUND (WEST), MUMBAI - 400080, MAHARASHTRA,
INDIA |
B66474404 |
|
14 |
10121962 |
12/12/2012 * |
250,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA,
INDIA |
B67424267 |
|
15 |
10122049 |
12/12/2012 * |
700,000,000.00 |
CITI BANK N.A. |
CITIBANK CENTRE,
2ND FLOOR, BANDRA KURLA COMPLEX, MUMBAI - 400051, MAHARASHTRA, INDIA |
B66681263 |
|
16 |
10122387 |
12/12/2012 * |
750,000,000.00 |
EXPORT-IMPORT
BANK OF INDIA |
CENTRE ONE
BUILDING, FOOR 21, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI - 400005,
MAHARASHTRA, INDIA |
B67412304 |
|
17 |
10108577 |
12/12/2012 * |
700,000,000.00 |
STANDARD
CHARTERED BANK |
ABHIJEET II,
GROUND FLOOR, NEAR MITHAKALI SIX ROAD, AHMEDABAD - 380006, GUJARAT, INDIA |
B66915125 |
|
18 |
10029996 |
29/03/2007 * |
400,000,000.00 |
STATE BANK OF
INDIA |
COMMERCIAL
BRANCH, NGN VIDYA MARG, FORT, MUMBAI - 400023, MAHARASHTRA, INDIA |
A05217856 |
|
19 |
90102464 |
29/03/2007 * |
300,000,000.00 |
STATE BANK OF
INDIA |
COMMERCIAL
BRANCH, NGN VIDYA MARG, FORT, MUMBAI - 400023, |
A13630215 |
|
20 |
90236400 |
28/02/2005 * |
220,000,000.00 |
UTI BANK LIMITED |
UNIVERSAL
INSURANCE BUILDING, MP ROAD, MUMBAI - 400001, MAHARASHTRA, INDIA |
- |
|
21 |
80001690 |
28/09/2006 * |
420,000,000.00 |
UTI BANK LIMITED |
UNIVERSAL
INSURANCE BUILDING, SIR P M ROAD, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA |
- |
|
22 |
90102384 |
29/07/2004 |
1,374,680.00 |
ICICI BANK
LIMITED |
ZENITH HOUSE;
KESHAVRAO KHYADE MARG, MAHALAXMI, |
- |
|
23 |
90102284 |
29/03/2007 * |
700,000,000.00 |
EXPORT IMPORT
BANK OF INDIA |
CENTRE ONE
BUILDING, FLR 21, WORLD TRADE CENTRE, |
A15489933 |
|
24 |
80033012 |
12/12/2012 * |
700,000,000.00 |
THE BANK OF
BARODA LIMITED |
FORESHORE
BUILDING, GENERAL BHOSALE MARG, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA,
INDIA |
B67297523 |
|
25 |
80033010 |
28/12/2001 * |
200,000,000.00 |
UTI BANK LIMITED |
MAKER TOWER,
"F" 11TH FLOOR, CUFF PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Deposits |
4.290 |
5.984 |
|
|
|
|
|
SHORT TERM
BORROWING |
|
|
|
From Banks |
947.345 |
1158.025 |
|
From Others |
29.825 |
5.000 |
|
Total |
981.460 |
1169.009 |
RESTRUCTURING UPDATE
During the year, the Company has merged
the manufacturing operations of its Associate Company, Anushakti Chemicals and
Drugs Limited (ACDL) into Aarti Industries Limited (AIL) with effect from 1st April,
2012 in terms of Scheme of Arrangement duly approved by the High Courts of
Bombay and Gujarat at Ahmedabad. The Company has allotted 94,71,614 equity
shares of Rs. 5/- each to the shareholders of ACDL in
terms of the said Scheme of Arrangement, whereby the Paid up Share Capital of
the Company has increased by about 12% to Rs. 44,29,58,435
divided into 8,85,91,687 equity shares of Rs. 5/-
each fully paid up.
Upon the Scheme of Arrangement having become effective, the merged accounts have been drawn up for FY 2012-13 w.e.f. 1st April, 2012. Hence to this extent, the financials for FY 12-13 may not be comparable with previous year. ACDL had manufacturing units at Bhachau in the State of Gujarat, Tarapur and Dombivali in the State of Maharashtra which are now merged into the Company. Apart from synergies derived in respect of common products, the said restructuring has increased the volumes of existing range of products and would also facilitate addition of newer products with diverse end usages into Fuel Additives, etc. having high growth possibilities. Restructuring has also helped spread of overall products and markets specific risks and improve operating margin as well.
FINANCIALS
During the year, the Company has
achieved multiple milestones. Standalone Net revenues of the Company crossed Rs. 20000.000 Millions mark and ended at Rs. 20960.000 Millions (previous year Rs. 16730.000 Millions). Similarly Exports
had also crossed Rs. 10000.000 Millions and closed at Rs. 10600.000 Millions. Hence with these
record breaking performance, their exports now constitute over 50% of the total
revenues of the Company. The EBIDTA margins for the Company also improved from
14.6% for FY 11-12 to 17% in FY 12-13.
Operating profit before Interest,
Depreciation and Tax for FY 12-13 was at Rs. 3560.000
Millions (Previous Year Rs. 2450.000
Millions) Profit before tax for FY12-13 was at Rs. 1840.000
Millions (Previous Year Rs. 1220.000
Millions) Profit after Tax and Deferred Tax grew to Rs. 1310.000 Millions for FY 12-13 from Rs. 870.000 Millions for FY 11-12.
Consolidated Income increased by 25% to
Rs. 20960.000 Millions as compared to Rs. 16730.000 Millions for last year.
Consolidated EBIDTA also grew by about 45% to Rs. 3650.000
Millions as against Rs. 2530.000 Millions last year. Net Profit
after Consolidation also recorded a growth of 30% at Rs. 1340.000 Millions as against Rs. 1030.000 Millions for last year.
Consolidated EPS for FY 2012-13 was at Rs. 15.17
as against Rs. 13.45 for FY 2011-12.
During last year, with introduction of
various high growth and high margin export oriented products, the share of
Exports Revenue to Total Revenue have crossed the 50% benchmark. The ability to
provide products with required specifications at desired intervals have added
to the increase in volumes from Global customers over longer term period. The
Company has entered into various long term supply agreement with its key
customers thereby further strengthening its Global market positions.
Significant volume growth is coming from their customers in Europe and America
and in few of the products the demand is more than the production capabilities
of the Company. Exports now, accounts for 51% of the total revenue and have
increased by over 46% to Rs. 10600.000
Millions for FY 12-13 from Rs. 7270.000
Millions for FY 11-12.
CHEMICAL INDUSTRY – STRUCTURE AND DEVELOPMENT
Chemical Industry is one of the fastest
growing industries in the Indian Economy. At the same time it is also one of
the oldest domestic industry of India which started working soon after India’s
Independence in 1947. It accounts for 18% of the Indian manufacturing sector
output and is expected to grow by about 12% annually. It constitutes for about
15% of India’s Exports and has around 8% share in India’s Imports. From those
early years, the Chemical Industry in India continued to contribute to the
Economic Growth of Indian Economy. At present, the Chemical Industry accounts
for almost 13% of Indian GDP.
A network of over 200 national
laboratories and 1300 R&D Centres provide a strong base for further
innovations and growth of Indian Chemical Industry. Government Initiatives in
the form of Port based Chemical Parks in SEZ, Improvement in Infrastructure,
Tax concessions, reduction and rationalization of Duty Structure, FDI
relaxation, etc. plough the road for further growth of the Indian Chemical
Industry into a major Chemical hub. End user Industries like Agro-Chemicals,
Automotives, Biotechnology, Electronics, Packaging, Pharmaceuticals, Pigments,
Polymers, Surfactants, etc have been witnessing good demand and are poised for
faster growth.
Thus, Indian Chemical Industry holds
potential to produce quality chemicals for global consumers because of its
diversified manufacturing base, strong IPRs, availability of qualified work
force, proximity to ports, availability of feedstock, etc.
With concerns on environmental impact,
the Indian Government has been working towards ensuring stricter compliance of
effluent norms, categorizing alert zone, identifying and restricting the
operation of the polluting units. This has made Indian companies to scale up
their units in parity with international standards. In this process, while a
lot of units have been closed down, they are also witnessing the emergence of
Indian Global Chemical Companies capable of competing with the other Asian
players, while also adopting safer and greener processes.
The Company is a leading manufacturer
of Speciality Chemicals with diversified end-uses into Agrochemicals,
Pharmaceuticals, High Performance Polymers, Paints, Pigments, Printing Inks,
Rubber Chemicals, Additives, Surfactants, Dyes, Oil and Gas additives, Flavours
and Fragrances, Home and Personal Care applications, etc. The Company’s
derisking by diversification has helped it withstand the volatilities and
downturns of a specific end-user segment and also helps to capitalize on the growth
opportunities in other end-user segments.
The Company believes that the long
term growth and profitability from the business cannot be sustained without a
framework considering the elements of Safety, Health, Environment Impact and
Energy Efficiency initiatives. With these principles, the Company have stepped
up its efforts for the sustainable growth of its businesses. The Company is
committed to increase the process safety and increasing the level of automation
in its existing areas of operation. This will help in reducing the manual
handling and shopfloor manpower. The Company has adopted the 3R Principle,
i.e., Reduce – Recover – Reuse. Over last 18 months, the Company has made
substantial Investments into upgrading the ETP setup and had upgraded two of
its Manufacturing Units into Zero Discharge Unit and also has put in places
various processes to control/limit of generation of effluents and improve on
the treatment of the same. The Company plans to invest further in these areas
to ensure providing greener and safer manufacturing
environment.
INTERCHANGEABLE PERFORMANCE AND AGROCHEMICALS MANUFACTURING
OPERATIONS.
The Manufacturing units for these two segments are majorly interconnected/interlinked at the common manufacturing units located at Vapi, Sarigam, Jhagadia and Bhachau in the State of Gujarat and at Dombivali and Tarapur in the State of Maharashtra. A significant portion of the Company’s production capabilities are process driven and not based on a particular product. This gives the Company the flexibility to change its input mix and manufacture different products, thereby resulting into optimum utilization of production capabilities as well as provides flexibility to change the product mix amongst different end-user applications based on market dynamics.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
Claims against
the Company not acknowledged as Debts |
387.011 |
219.828 |
|
Letters of
Credit, Bank Guarantees and Bills Discounted |
805.243 |
440.176 |
AUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE 2013
PART I
(Rs. In Millions)
|
Sr. No. |
Particulars |
3 Months Ended |
|
|
|
30th June, 2013 |
|
|||
|
Audited |
|
|||
|
1 |
Income from Operations |
|
|
|
|
|
a) Net Sales/Income from
operation |
|
|
|
|
|
(Net of excise duty/VAT) |
5858.500 |
|
|
|
|
b) Other Operating Income |
77.900 |
|
|
|
|
Total Income from Operations
(Net) |
5936.400 |
|
|
|
2 |
Expenses |
|
|
|
|
|
a) Cost of Material Consumed |
3688.400 |
|
|
|
|
b) Purchases of
Stock-in-trade |
262.000 |
|
|
|
|
c) Changes in inventories of
Finished Goods, |
|
|
|
|
|
Work-in-progress and
Stock-in-trade |
(24.100) |
|
|
|
|
d) Employee Benefits
Expenses |
165.500 |
|
|
|
|
e) Depreciation and
Amortisation Expense |
202.100 |
|
|
|
|
f) Other Expenses |
1082.200 |
|
|
|
|
Total Expenses |
5376.100 |
|
|
|
3 |
Profit/(Loss) from
Operations before Other |
|
|
|
|
|
Income, Finance Costs and
Exceptional |
|
|
|
|
|
Items (1-2) |
560.300 |
|
|
|
4 |
Other Income |
23.600 |
|
|
|
5 |
Profit/(Loss) from Ordinary
Activities |
|
|
|
|
|
before Finance Costs and
Exceptional |
|
|
|
|
|
Items (3+4) |
583.900 |
|
|
|
6 |
Finance Costs |
263.600 |
|
|
|
7 |
Profit/(Loss) from Ordinary
Activities after |
|
|
|
|
|
Finance Costs but before
Exceptional |
|
|
|
|
|
Items (5-6) |
320.300 |
|
|
|
8 |
Exceptional Items |
- |
|
|
|
9 |
Profit/(Loss) from Ordinary
Activities |
|
|
|
|
|
before Tax (7-8) |
320.300 |
|
|
|
10 |
Tax Expenses |
|
|
|
|
|
a) Provision for
Taxation-Current |
60.000 |
|
|
|
|
b) Provision for Deferred
Tax |
35.000 |
|
|
|
|
Total Tax Expenses |
95.000 |
|
|
|
11 |
Net Profit/(Loss) from
Ordinary |
|
|
|
|
|
Activities after Tax (9-10) |
225.300 |
|
|
|
12 |
Extraordinary Items (Net of
Tax Expense Rs.) |
- |
|
|
|
13 |
Net Profit/(loss) for the
period (11-12) |
225.300 |
|
|
|
14 |
Share of Profit/(Loss) of
Associates |
- |
|
|
|
15 |
Minority Interest |
- |
|
|
|
16 |
Net Profit/(Loss) after
Taxes, Minority |
|
|
|
|
|
Interest and Share of
Profit/(Loss) of |
|
|
|
|
|
Associates (13+14+15) |
225.300 |
|
|
|
17 |
Paid-up Equity Share Capital |
|
|
|
|
|
(Face Value of Rs. 5/- each) |
443.000 |
|
|
|
18 |
Reserve excluding
Revaluation Reserves |
|
|
|
|
|
as per Balance Sheet of
previous Accounting Year |
- |
|
|
|
19.i |
Earnings Per Share (before
Extraordinary |
|
|
|
|
|
Items) (of Rs. 5/- each) (not annualised) |
|
|
|
|
|
a) Basic |
2.54 |
|
|
|
|
b) Diluted |
2.54 |
|
|
|
19.ii |
Earnings Per Share (after
Extraordinary |
|
|
|
|
|
Items) (of Rs. 5/- each) (not annualised) |
|
|
|
|
|
a) Basic |
2.54 |
|
|
|
|
b) Diluted |
2.54 |
|
|
|
|
|
|
|
|
|
Part II SELECT INFORMATION FOR
QUARTER ENDED 30TH JUNE, 2013. |
|
|||
|
A |
PARTICULARS OF
SHAREHOLDING |
|
||
|
1 |
Public Shareholding |
|
||
|
|
- Number of Shares |
35,347,302 |
||
|
|
- Percentage of Sharesholding |
39.90 |
||
|
2 |
Promoters and Promoter Group Shareholding a) Pledged/Encumbered |
|
||
|
|
- Number of Shares |
Nil |
||
|
|
- Percentage of Shares (as a % of total |
|
||
|
|
Shareholding of Promoter and |
|
||
|
|
Promoter group) |
Nil |
||
|
|
- Percentage of Shares (as a % of total |
|
||
|
|
Share Capital of the Company) |
Nil |
||
|
|
b) Non-encumbered |
|
||
|
|
- Number of Shares |
53,244,385 |
||
|
|
- Percentage of Shares (as a % of total |
100.00 |
||
|
|
Shareholding of Promoter and |
|
||
|
|
Promoter group) |
|
||
|
|
- Percentage of Shares (as a % of total |
|
||
|
|
Share Capital of the Company) |
60.10 |
||
|
|
PARTICULARS |
30th June, 2013 |
|
B |
INVESTOR COMPLAINTS
(Nos.) |
|
|
|
Pending at the beginning of the quarter |
Nil |
|
|
Received during the quarter |
11 |
|
|
Disposed of during the quarter |
11 |
|
|
Remaining unresolved at the end of the quarter |
Nil |
SEGMENTWISE REVENUE AND RESULTS UNDER CLAUSE 41 OF LISTING AGREEMENT
(Rs. In Millions)
|
Particulars |
3 Months Ended |
|
30th June, 2013 |
|
|
Audited |
|
|
Segment Revenue a) Performance Chemicals b) Agri-Intermediates and Fertiliser c) Pharmaceuticals d) Home and Personal Care Chemicals |
4026.700 901.500 633.200 375.000 |
|
Total |
5936.400 |
|
Segment Results Profit / (Loss) Before Tax and Interest from each Segment a) Performance Chemicals b) Agri-Intermediates and Fertiliser c) Pharmaceuticals d) Home and Personal Care Chemicals |
478.600 161.700 72.900 (2.300) |
|
Total |
710.900 |
|
Less: Interest Other Unallocable Expenditure (Net) |
263.600 127.000 |
|
TOTAL PROFIT BEFORE
TAX |
320.300 |
Segmental Capital
Employed :
Fixed Assets used in the Company's business or liabilities contracted have not been identified to any of the reportable segments, as the Fixed Assets and services are used interchangeably between Segments. The Company believes that it is currently not practicable to provide segment disclosures relating to Capital Employed.
FIXED ASSETS
v
Tangible
Assets
·
Free hold Land
·
Lease Hold Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
v
Intangible
Assets
·
Process Development
·
Technical Knowhow
·
Goodwill
·
Computer Software
·
Copyrights and Patents
PRESS RELEASE
Mumbai, July 14,2012:
The Board of Directors of Aarti Industries Limited, a leading manufacturer and exporter of Chemicals and Pharmaceuticals, has today inter-alia given in-principle approval to formulate the scheme for the merger of manufacturing division of Anushakti Chemicals and Drugs Limited into Aarti Industries Limited and to consider further steps to be taken in this regard.
Anushakti Chemicals and Drugs Limited is an associate company of Aarti Industries Limited, with Aarti Industries Limited holding 49.67o equity stake in Anushakti Chemicals and Drugs Limited.
Anushakti Chemicals and Drugs Limited is mainly engaged into manufacturing of various Speciality Chemicals with applications into end-user segments of Performance Chemicals, Agrochemicals and Pharmaceuticals. The Company has its manufacturing units at Bhachau in the' State of Gujarat, Tarapur and Dombivali in the State of Maharashtra.
For the financial year ended March 31, 2012, Anushakti Chemicals and Drugs Limited manufacturing division had posted a turnover of Rs. 3395.000 Millions, (of which exports were Rs. 992.000 Millions) and Prolit before tax for FY 2011-12 has been Rs. 392.000 Millions Gross Block and Net Block as at 31st March, 2012 were Rs. 1650.000 Millions and Rs. 963.000 Millions respectively.
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.61.78 |
|
|
1 |
Rs.99.66 |
|
Euro |
1 |
Rs.84.49 |
INFORMATION DETAILS
|
Report Prepared by
: |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
62 |
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.