MIRA INFORM REPORT
|
Report Date : |
09.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
HIL LIMITED (w.e.f. 16.08.2012) |
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Formerly Known
As : |
HYDERABAD INDUSTRIES LIMITED |
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Registered
Office : |
Sanathnagar, Hyderabad – 500018, Andhra Pradesh |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
23.06.1955 |
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Com. Reg. No.: |
01-000656 |
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Capital
Investment / Paid-up Capital : |
Rs. 74.898
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L74999AP1955PLC000656 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDH00015B |
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|
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PAN No.: [Permanent Account No.] |
AAACH2676Q |
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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 and Distributor of Fibre Cement Sheets and Other Building Products, viz., Aerocon Panels, AAC Blocks, Material Handling and Processing Plant and Equipment, and Thermal Insulation Products (Refractories) and Wind Power Generation. |
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|
|
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No. of Employees
: |
1960 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 15400000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. Financial position of the company is sound and healthy. Trade relations are reported to be fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered for business dealing at usual trade
terms and conditions. |
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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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in
exports and moderation in gold imports. Manufacturing activity and new orders
in India showed their strongest growth in a year in February. The news comes as
a relief after data showed Asia’s third largest economy grew by a
slower-than-expected 4.7 % annually in the three months through December. The
HSBC Manufacturing Purchasing Managers’ Index which gauges the business
activity of India’s factories but not its’ utilities, rose to 52.5 in February,
its highest in a year from 51.4 in January. Overall new orders for factory
goods which rose to a one-year high of 54.9 contributed to the surge. China has
emerged as India’s biggest trading partner in the current financial year
replacing the United Arab Emirates and pushing it to the third spot.
India-China trade has reached $49.5 billion with a 8.7 % share in India’s total
trade. The US comes second at $46 billion with 8.1 % share during the first
nine months of the current financial year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term Rating : A+ |
|
Rating Explanation |
Adequate degree of safety and carry low
credit risk. |
|
Date |
August 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term Rating : A1+ |
|
Rating Explanation |
Strong degree of safety and carry lowest
credit risk. |
|
Date |
August 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE [91-40-23700600]
LOCATIONS
|
Registered Office : |
Sanathnagar, Hyderabad – 500018, Andhra Pradesh, India |
|
Tel. No.: |
91-40-30999000/ |
|
Fax No.: |
91-40-23701227/ 23702400 |
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E-Mail : |
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Website : |
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Factory : |
Located at: · Faridabad: Sector-25, Faridabad – 121004, Haryana, India · Jasidih: Industrial Area, Jasidih – 814142, Jharkhand, India · Hyderabad: Sanathnagar, Hyderabad – 500018, Andhra Pradesh, India · Thrissur: Mulangunnathukukavu, Thrissur – 680581, Kerala, India · Sathariya: SIDA, Jaunpur District Sathariya – 222022, Uttar Pradesh, India · Dharuhera: Plot No. 31, Rewari District Dharuhera – 122106, Haryana, India · Wada: Musarane Village, Thane District Wada – 421312, Maharashtra, India · Golan Village: Valad Taluka, District Tapi – 394640, Gujarat, India · Thimmapur: Mahaboobnagar District Thimmapur – 509325, Andhra Pradesh, India · Balasore: IDCO, Plot No. Z-2, IID Centre, Somanthapure, Orissa, India · Chennai: Kannigaiper Village, Tiravallur District Chennai – 601102 Tamilnadu, India · Vijayawada: Plot No. 289, IDA, Kondapalli, Vijayawada – 521228 Andhra Pradesh, India · Dera Bassi: Village Saidpura, Dera Bassi – 140507, Punjab, India |
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Wind Power : |
· 3.6 MW (2x1.80 MW) at Kutch District, Gujarat, India · 1.25 MW near Coimbatore, Tirupur District, Tamilnadu, India · 2.5 MW (2x1.25 MW) at Jodhpur District, Rajasthan, India |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. C K Birla |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Abhaya Shankar |
|
Designation : |
Managing Director |
|
Date of Birth/Age : |
57 Years |
|
Qualification : |
B. Tech (Mech) IIT, Kanpur, MBA ( PGDM) IIM, Kolkata |
|
Experience : |
31 Years |
|
|
|
|
Name : |
Mr. Krishnagopal Maheswari |
|
Designation : |
Director |
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Date of Birth/Age : |
11.02.1922 |
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Qualification : |
Under Graduate |
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Experience : |
Rich Experience in the field of Business and Management, as he held
various senior Positions in several Companies and had been a Director on the Boards
of reputed Companies |
|
Date of Appointment : |
16.10.1964 |
|
Other Directorship : |
·
Kesoram Industries Limited ·
Jayashree Traders Private Limited |
|
|
|
|
Name : |
Mr. Shreegopal Daga |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. P. Vaman Rao |
|
Designation : |
Director |
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|
|
|
Name : |
Mr. Yash Paul |
|
Designation : |
Director |
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Date of Birth/Age : |
10.06.1940 |
|
Qualification : |
M.A. |
|
Experience : |
Expertise in the fields of finance and management as he had held various
senior executive positions in LIC for several years |
|
Date of Appointment : |
27.01.2009 |
KEY EXECUTIVES
|
Name : |
P. Rajesh Kumar Jain |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.12.2013
|
Category of Shareholder |
Total No. of Shares |
Total
Shareholding as a % of Total No. of Shares |
|
(A) Shareholding
of Promoter and Promoter Group |
||
|
|
|
|
|
|
73321 |
0.98 |
|
|
3011801 |
40.36 |
|
|
3085122 |
41.34 |
|
|
|
|
|
|
4444 |
0.06 |
|
|
4444 |
0.06 |
|
Total
shareholding of Promoter and Promoter Group (A) |
3089566 |
41.40 |
|
(B) Public
Shareholding |
||
|
|
|
|
|
|
46079 |
0.62 |
|
|
14245 |
0.19 |
|
|
305552 |
4.09 |
|
|
780 |
0.01 |
|
|
2950 |
0.04 |
|
|
369606 |
4.95 |
|
|
|
|
|
|
926672 |
12.42 |
|
|
|
|
|
|
2343359 |
31.40 |
|
|
436068 |
5.84 |
|
|
297292 |
3.98 |
|
|
123811 |
1.66 |
|
|
122000 |
1.63 |
|
|
51381 |
0.69 |
|
|
100 |
0.00 |
|
|
4003391 |
53.65 |
|
Total Public
shareholding (B) |
4372997 |
58.60 |
|
Total (A)+(B) |
7462563 |
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) |
7462563 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Distributor of Fibre Cement Sheets and Other Building Products, viz., Aerocon Panels, AAC Blocks, Material Handling and Processing Plant and Equipment, and Thermal Insulation Products (Refractories) and Wind Power Generation. |
GENERAL INFORMATION
|
No. of Employees : |
1960 (Approximately) |
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Bankers : |
·
State Bank of Hyderabad ·
State Bank of India ·
Central Bank of India ·
State Bank of Mysore ·
State Bank of Travancore ·
HDFC Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
S.R. Batlibai and Associates LLP Chartered Accountants |
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|
|
|
Solicitors : |
Khaitan and Company |
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|
|
|
Joint Venture : |
Supercor Industries Limited |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9,500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 95.000 Millions |
|
50,000 |
Preference Shares |
Rs. 100/- each |
Rs. 5.000 Millions |
|
|
Total |
|
Rs. 100.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,462,563 |
Equity Shares |
Rs. 10/- each |
Rs. 74.626
Millions |
|
|
Add: Forfeited Shares (amount originally paid-up) |
|
Rs. 0.272
Million |
|
|
Total |
|
Rs. 74.898 Millions |
(a) Reconciliation of the shares outstanding at the beginning and at the
end of the reporting period
|
Equity shares |
31.03.2013 |
|
|
|
No. of Shares |
Rs. in Millions |
|
At the beginning of the year |
7,462,563 |
74.898 |
|
Outstanding at the end of the year |
7,462,563 |
74.898 |
(b) Terms/rights
attached to equity shares
The Company has
only one class of equity shares having a face value of Rs. 10/- each. Each holder
of equity share is entitled to one vote per share. The Company declares and
pays dividends in Indian Rupees. The dividend proposed by the Board of
Directors is subject to the approval of the shareholders in the ensuing Annual
General Meeting.
During the year
ended 31st March 2013, the amount of dividend per share recognized as
distributions to equity shareholders was Rs.20/-, including Interim dividend of
Rs.7.50/- (Previous Year: Rs.18.50/-, including interim dividend of Rs.6/-).
In the event of liquidation
of the Company, the equity shareholders will be entitled to receive remaining
assets of the Company, after distribution of all preferential amounts. The
distribution will be in proportion to the number of equity shares held by the
shareholders.
(c) Details of shareholders holding more than 5% shares in the Company
|
Name of the
shareholders |
31.03.2013 |
|
|
|
No. of Shares |
% of Holding |
|
Central India Industries Limited |
1,074,634 |
14.40 |
|
Orient Paper And Industries Limited |
906,360 |
12.15 |
As per of the
Company, including its register of shareholders/ members, the above
shareholding represents both legal and beneficial ownerships of shares.
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 |
74.898 |
74.898 |
74.898 |
|
(b) Reserves & Surplus |
3781.913 |
3351.416 |
2907.809 |
|
(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) |
3856.811 |
3426.314 |
2982.707 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
471.200 |
345.812 |
360.096 |
|
(b) Deferred tax liabilities (Net) |
393.665 |
355.780 |
280.388 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
28.023 |
10.092 |
18.109 |
|
Total Non-current
Liabilities (3) |
892.888 |
711.684 |
658.593 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
1247.503 |
689.778 |
489.978 |
|
(b) Trade payables |
849.376 |
844.270 |
622.865 |
|
(c) Other current
liabilities |
850.440 |
842.041 |
696.800 |
|
(d) Short-term provisions |
169.487 |
203.152 |
143.394 |
|
Total Current Liabilities
(4) |
3116.806 |
2579.241 |
1953.037 |
|
|
|
|
|
|
TOTAL |
7866.505 |
6717.239 |
5594.337 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3384.936 |
3080.869 |
2650.673 |
|
(ii) Intangible Assets |
15.107 |
14.485 |
20.116 |
|
(iii) Capital
work-in-progress |
193.237 |
168.362 |
228.490 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
88.834 |
89.978 |
91.122 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
149.352 |
151.421 |
151.655 |
|
(e) Other Non-current
assets |
16.921 |
25.996 |
22.155 |
|
(f) Trade receivables |
0.433 |
0.362 |
0.000 |
|
Total Non-Current Assets |
3848.820 |
3531.473 |
3164.211 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
2466.097 |
1853.335 |
1515.133 |
|
(c) Trade receivables |
1013.618 |
846.031 |
626.465 |
|
(d) Cash and cash
equivalents |
96.710 |
94.393 |
105.078 |
|
(e) Short-term loans
and advances |
405.149 |
381.544 |
174.480 |
|
(f) Other current
assets |
36.111 |
10.463 |
8.970 |
|
Total Current Assets |
4017.685 |
3185.766 |
2430.126 |
|
|
|
|
|
|
TOTAL |
7866.505 |
6717.239 |
5594.337 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations (net) |
10365.111 |
8578.119 |
7245.288 |
|
|
|
Other Income |
78.757 |
84.862 |
95.692 |
|
|
|
TOTAL (A) |
10443.868 |
8662.981 |
7340.980 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of raw material consumed |
5684.074 |
4622.556 |
3789.109 |
|
|
|
Purchase of traded goods |
138.947 |
27.237 |
89.506 |
|
|
|
(Increase) in
inventories of finished goods, work-in-progress and traded goods |
(321.857) |
(2.236) |
22.409 |
|
|
|
Employee benefits expense |
894.203 |
753.950 |
642.842 |
|
|
|
Other expenses |
2761.777 |
2101.542 |
1819.946 |
|
|
|
TOTAL (B) |
9157.144 |
7503.049 |
6363.812 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1286.724 |
1159.932 |
977.168 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
106.078 |
74.605 |
56.294 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1180.646 |
1085.327 |
920.874 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
267.116 |
211.758 |
179.493 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
913.530 |
873.569 |
741.381 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
307.167 |
268.114 |
235.339 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
606.363 |
605.455 |
506.042 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
538.656 |
493.366 |
426.268 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
500.000 |
400.000 |
300.000 |
|
|
|
Interim Dividend on Equity Shares |
55.969 |
44.775 |
44.775 |
|
|
|
Proposed final Equity Dividend |
93.282 |
93.282 |
74.626 |
|
|
|
Tax on Dividend |
24.932 |
22.108 |
19.543 |
|
|
BALANCE CARRIED
TO THE B/S |
470.836 |
538.656 |
493.366 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods (F.O.B.) |
39.605 |
26.115 |
16.028 |
|
|
|
Technical Know-how and service fees (on accrual basis) |
9.810 |
8.199 |
6.489 |
|
|
TOTAL EARNINGS |
49.415 |
34.314 |
22.517 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
3317.578 |
2448.353 |
1967.930 |
|
|
|
Stores and Spares |
29.882 |
3.484 |
1.911 |
|
|
|
Trading Goods |
18.128 |
0.000 |
0.000 |
|
|
|
Research & Development |
6.516 |
0.000 |
0.000 |
|
|
|
Capital Goods |
47.125 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
3419.229 |
2451.837 |
1969.841 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
81.25 |
81.13 |
67.81 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
|
30.06.2013 |
|
Type |
|
|
1st
Quarter |
|
Net Sales |
|
|
2708.800 |
|
Total Expenditure |
|
|
2451.900 |
|
PBIDT (Excl OI) |
|
|
256.900 |
|
Other Income |
|
|
14.000 |
|
Operating Profit |
|
|
270.900 |
|
Interest |
|
|
36.300 |
|
Exceptional Items |
|
|
0.000 |
|
PBDT |
|
|
234.600 |
|
Depreciation |
|
|
60.700 |
|
Profit Before Tax |
|
|
173.900 |
|
Tax |
|
|
59.800 |
|
Provisions and contingencies |
|
|
0.000 |
|
Profit After Tax |
|
|
114.100 |
|
Extraordinary Items |
|
|
0.000 |
|
Prior Period Expenses |
|
|
0.000 |
|
Other Adjustments |
|
|
0.000 |
|
Net Profit |
|
|
114.100 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
5.81
|
6.99 |
6.89 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.81
|
10.18 |
10.23 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.29
|
13.85 |
14.47 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.25 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.45
|
0.30 |
0.29 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.29
|
1.24 |
1.24 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
74.898 |
74.898 |
74.898 |
|
Reserves & Surplus |
2907.809 |
3351.416 |
3781.913 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2,982.707 |
3,426.314 |
3,856.811 |
|
|
|
|
|
|
long-term borrowings |
360.096 |
345.812 |
471.200 |
|
Short term borrowings |
489.978 |
689.778 |
1247.503 |
|
Total
borrowings |
850.074 |
1,035.590 |
1,718.703 |
|
Debt/Equity
ratio |
0.285 |
0.302 |
0.446 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
7245.288 |
8578.119 |
10365.111 |
|
|
|
18.396 |
20.832 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
7245.288 |
8578.119 |
10365.111 |
|
Profit After Tax |
506.042 |
605.455 |
606.363 |
|
|
6.98% |
7.06% |
5.85% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
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 |
10324772 |
02/11/2011 |
250,000,000.00 |
THE HONGKONG AND
SHANGHAI BANKING CORPORATION LIMI |
6-3-1107 AND
1108 RAJ BHAVAN ROAD, SOMAJIGUDA, HYDERABAD - 500082, ANDHRA PRADESH, INDIA |
B28433183 |
|
2 |
10325623 |
31/10/2012 * |
304,746,143.00 |
THE PRADESHIYA
INDUSTRIAL AND INVESTMENT CORPORATI |
PICUP BHAWANGOMTI
NAGAR, LUCKNOW - 226010, UTTAR PRADESH, INDIA |
B61573994 |
|
3 |
10160758 |
31/10/2012 * |
450,000,000.00 |
THE PRADESHIYA
INDUSTRIAL AND INVESTMENT CORPORATI |
PICUP
BHAWANGOMTI NAGAR, LUCKNOW - 226010, UTTAR PRADESH, INDIA |
B61574158 |
|
4 |
90136189 |
07/01/2003 |
10,000,000.00 |
CENTRAL BANK OF
INDIA |
BANK STREET,
HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
5 |
90136166 |
24/09/2002 |
10,000,000.00 |
CENTRAL BANK OF
INDIA |
BANK STREET, HUDERABAD,
ANDHRA PRADESH, INDIA |
- |
|
6 |
90136068 |
24/08/2001 |
50,000,000.00 |
STATE BANK OF
HYDERABAD |
SANATNAGAR,
HYDERABAD - 500018, ANDHRA PRADESH, INDIA |
- |
|
7 |
90135998 |
19/09/2000 |
23,200,000.00 |
CENTRAL BANK OF
INDIA |
BANK STREET, HYDERABAD,
ANDHRA PRADESH, INDIA |
- |
|
8 |
90132818 |
17/03/2003 * |
60,000,000.00 |
HOUSING
DEVELOPMENT FINANCE CORP. LTD |
HDFC HOUSE;
B-6/3; SAFDARJUNG ENCLAVE, DDA COMMERCIAL COMPLEX; OPPOSITE DEER PARK, NEW
DELHI |
- |
|
9 |
90135965 |
28/04/2000 |
60,000,000.00 |
STATE BANK OF
HYDERABAD |
SANATNAGAR,
HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
10 |
90135956 |
04/02/2010 * |
1,213,700,000.00 |
STATE BANK OF
HYDERABAD |
SANATHNAGAR BRANCH,
INDUSTRIAL ESTATE, SANATHNAGAR, HYDERABAD - 500018, ANDHRA PRADESH, INDIA |
A80875461 |
|
11 |
90135939 |
28/01/2000 |
23,200,000.00 |
CENTRAL BANK OF
INDIA |
BANK STREET,
KOTI, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
12 |
90135935 |
19/03/2001 * |
117,600,000.00 |
STATE BANK OF
HYDERABAD |
GUNFOUNDRY,
HYDERABAD - 500177, ANDHRA PRADESH, INDIA |
- |
|
13 |
90132730 |
28/09/1999 |
82,400,000.00 |
INDUSTRIAL
DEVELOPMENT BANK OF INDIA |
IDBI TOWER, WTC
COMPLEX; COLABA, MUMBAI - 400005, MAHARASHTRA, INDIA |
- |
|
14 |
90135899 |
27/10/1999 * |
1,183,500,000.00 |
STATE BANK OF
HYDERABAD |
GUNFOUNDRY,
HYDERABAD - 500177, ANDHRA PRADESH, INDIA |
- |
|
15 |
90131234 |
17/11/1999 * |
1,204,500,000.00 |
STATE BANK OF
HYDERABAD |
GUNFOUNDRY, HYDERABAD
- 500177, ANDHRA PRADESH, INDIA |
- |
|
16 |
90135851 |
20/08/1999 * |
1,160,000,000.00 |
STATE BANK OF
HYDERABAD |
GUNFOUNDRY,
HYDERABAD - 500177, ANDHRA PRADESH, INDIA |
- |
|
17 |
90131218 |
16/03/2000 * |
82,400,000.00 |
STATE BANK OF
INDIA |
MAIN BRANCH,
BANK STREET; KOTI, HYDERABAD - 500001, ANDHRA PRADESH, INDIA |
- |
|
18 |
90134155 |
18/02/2003 * |
150,000,000.00 |
STATE BANK OF
HYDERABAD |
SANATNAGAR,
HUDERABAD, ANDHRA PRADESH, INDIA |
- |
|
19 |
90132577 |
31/03/1998 |
829,010.00 |
STATE BANK OF
HYDERABAD |
SANATNAGAR
BRANCH, HYDERABAD - 500018, ANDHRA PRADESH, INDIA |
- |
|
20 |
90132551 |
19/02/1998 |
1,012,576.00 |
STATE BANK OF
HYDERABAD |
SANATNAGAR
BRANCH, HYDERABAD - 500018, ANDHRA PRADESH, INDIA |
- |
|
21 |
90132404 |
27/03/1997 |
185,000,000.00 |
THE INDUSTRIAL
CREDIT & INVESTMENT CORP. OF INDIA |
163; BACKBAY
RECLAMATION, MUMBAI - 400020, MAHARASHTRA, INDIA |
- |
|
22 |
90132397 |
13/04/2005 * |
89,600,000.00 |
THE ICICI BANK
LIMITED |
ICICI BANK TOWERS,
BANDRA KURLA COMPLEX, MUMBAI - 400051, MAHARASHTRA, INDIA |
- |
|
23 |
90135650 |
22/02/1999 * |
1,080,000,000.00 |
STATE BANK OF
HYDERABAD |
GUNFOUNDRY,
HYDERABAD - 500177, ANDHRA PRADESH, INDIA |
- |
|
24 |
90135521 |
27/03/1997 * |
8,800,000.00 |
HOUSING
DEVELOPMENT FINANCE CORP. LIMITED |
101; MAGHUL
COURT, BASHEERBAGH, HYDERABAD - 500001, ANDHRA PRADESH, INDIA |
- |
|
25 |
90131112 |
24/07/2002 * |
130,551,100.00 |
STATE BANK OF
HYDEDRABAD |
GUNFOUNDRY,
HYDERABAD - 500177, ANDHRA PRADESH, INDIA |
- |
|
26 |
90135295 |
01/10/1996 * |
81,500,000.00 |
STATE BANK OF
MYSORE |
JUBILEE HILLS,
HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
27 |
90135289 |
07/03/1996 * |
81,500,000.00 |
STATE BANK OF
MYSORE |
JUBILEE HILLS,
HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
28 |
90133576 |
19/05/1994 * |
60,000,000.00 |
STATE BANK OF
TRAVANCORE |
HYDERABAD,
HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
29 |
90135288 |
07/03/1996 * |
99,500,000.00 |
STATE BANK OF
TRAVANCORE |
BANK STREET,
HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
30 |
90131097 |
27/10/1992 * |
90,000,000.00 |
STATE BANK OF
INDIA |
HYDERABAD MAIN
BRANCH, BANK STREET, HYDERABAD - 500195, ANDHRA PRADESH, INDIA |
- |
|
31 |
90135270 |
27/01/1997 * |
650,000,000.00 |
STATE BANK OF
HYDERABAD |
SANATNAGAR, HYDERABAD,
ANDHRA PRADESH, INDIA |
- |
|
32 |
90135250 |
03/01/1992 |
30,000,000.00 |
STATE BANK OF
INDORE |
HYDERABAD,
HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
33 |
90133477 |
17/07/1989 |
900,000.00 |
ANDHRA BANK |
SULTAN BAZAR, HYDERABAD
- 500001, ANDHRA PRADESH, INDIA |
- |
|
34 |
90133448 |
12/10/1988 |
3,000,000.00 |
HOUSING
DEVELOPMENT FINANCE CORP. LIMITED |
169; BACKBAY
RECLAMATION, BOMBAY - 400020, MAHARASHTRA, INDIA |
- |
|
35 |
90023647 |
06/11/1987 |
600,000.00 |
STATE BANK OF
HYDERABAD |
JEWS STREET
ERNAKULAM, COCHIN - 682035, KERALA, INDIA |
- |
|
36 |
90023618 |
03/07/1996 * |
13,900,000.00 |
STATE BANK OF
HYDERABAD |
JEWA STREET
ERNAKULAM, COCHIN, KERALA, INDIA |
- |
|
37 |
90023602 |
21/11/1985 * |
7,000,000.00 |
INDUSTRIAL
DEVELOPMENT BANK OF INDIA |
VINAY K. SHAH
MARG NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA |
- |
|
38 |
90131028 |
03/12/1991 * |
70,000,000.00 |
STATE BANK OF
INDIA |
SERVICES & BANKING
DIVISION, BANK STREET, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
39 |
90131465 |
21/01/1985 |
190,500,000.00 |
STATE BANK OF
HYDERABAD |
SANATNAGAR,
HYDERABAD - 500018, ANDHRA PRADESH, INDIA |
- |
|
40 |
90134989 |
30/06/1984 |
400,000.00 |
INDIAN OIL
CORPORATION LIMITED |
139;
NUNGAMBAKKAM HIGH ROAD, MADRAS - 600001, TAMILNADU, INDIA |
- |
|
41 |
90131441 |
04/10/1988 * |
104,000,000.00 |
STATE BANK OF
HYDERABAD |
SANATNAGAR,
HUDERABAD - 500018, ANDHRA PRADESH, INDIA |
- |
|
42 |
90133313 |
22/08/1979 |
271,000.00 |
STATE BANK OF
HYDERABAD |
SANATNAGAR
BRANCH, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
43 |
90134948 |
09/03/1977 |
25,000,000.00 |
STATE BANK OF
INDIA |
HYDERABAD MAIN
BRANCH, BANK STREET, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
44 |
90131420 |
13/10/1976 |
2,500,000.00 |
STATE BANK OF
HYDERABAD |
SANATNAGAR
BRANCH, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
45 |
90134947 |
13/10/1976 |
90,000,000.00 |
STATE BANK OF
HYDERABAD |
HYDERABAD,
HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
46 |
90133310 |
01/01/1976 |
15,500,000.00 |
STATE BANK OF
HYDERABAD |
SANATNAGAR,
HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
47 |
90133301 |
03/12/1970 |
12,500,000.00 |
STATE BANK OF
HYDERABAD |
SANATNAGAR
BRANCH, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
48 |
90133300 |
11/11/1969 |
3,000,000.00 |
STATE BANK OF
HYDERABAD |
SANATNAGAR,
HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
49 |
90131009 |
27/06/1967 |
133,000.00 |
TRUSTEES OF
BIRLA BROTHERS PRIVATE LIMITED |
PROVIDENT FUND INSTITUTION,
14- RADHA BAZAR, CALCUTTA, WEST BENGAL, INDIA |
- |
|
50 |
90134933 |
27/06/1967 |
2,500,000.00 |
STATE BANK OF
HYDERABAD |
GUNFOUNDRY,
HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
51 |
90131008 |
04/05/1967 |
4,000,000.00 |
STATE BANK OF
HYDERABAD |
HYDERABAD,
HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
52 |
90134932 |
06/09/1966 |
17,500,000.00 |
STATE BANK OF
HYDERABAD |
HYDERABAD,
HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
53 |
90134931 |
24/08/1966 |
2,000,000.00 |
STATE BANK OF
HYDERABAD |
HYDERABAD, HYDERABAD,
ANDHRA PRADESH, INDIA |
- |
|
54 |
90136551 |
08/09/1965 |
9,000,000.00 |
STATE BANK OF
HYDERABAD |
HYDERABAD,
HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
55 |
90131007 |
27/07/1964 |
3,500,000.00 |
STATE BANK OF
HYDERABAD |
HYDERABAD, HYDERABAD,
ANDHRA PRADESH, INDIA |
- |
|
56 |
90134928 |
15/09/1960 |
4,000,000.00 |
STATE BANK OF
HYDERABAD |
GUNFOUNDRY,
HUDERABAD, ANDHRA PRADESH, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Other loans Deferred Sales Tax Loan |
166.454 |
193.812 |
|
SHORT TERM BORROWINGS |
|
|
|
Buyers Credit from banks |
609.180 |
321.653 |
|
|
|
|
|
Total |
775.634 |
515.465 |
CORPORATE INFORMATION
The Company is
engaged in the production and distribution of Fibre Cement Sheets and other
building products, viz., Aerocon Panels, AAC Blocks, Material Handling and
Processing Plant and Equipment, and Thermal Insulation Products (Refractories).
The Company presently has manufacturing facilities at Hyderabad, Faridabad,
Jasidih, Dharuhera, Thimmapur, Kondapalli, Chennai, Thrissur, Wada, Sathariya,
Balasore, Golan and Derabassi. The Company has set up Wind Turbine Generators
in Gujarat, Tamilnadu and Rajasthan.
OVERALL ECONOMIC OUTLOOK
The global economy which is yet to shake off from the fallout crisis of 2008-2009, dropped to almost a growth of 3 percent in 2012, which indicates that about half a percentage point has been wiped off from the long-term trend since the crisis emerged. The East Asia and Pacific region continues to be the main driver for global growth, contributing around 40 percent of global growth in 2012. Driven by strong domestic demand, the region grew at 7.5 percent in 2012, higher than any other region in the world. While developing economies excluding China grew 6.2 percent in 2012, up from 4.5 percent in 2011 China's growth slowed to 7.8 percent in 2012.
The Indian Economy posed the lowest annual growth in the last decade with its Gross Domestic Product (GDP) growth estimated to be just over 5%. Industrial production figures show a worrying slowdown and lack of spending in Infrastructure has posed severe challenges for the related industries.
PERFORMANCE
In the year 2012-13, the Company's revenue increased to Rs.11660.000 crores from Rs.9490.000 Millions in the previous year, a growth of 23% over the previous year. Profit before Tax posted a modest growth of 5% from Rs.873.600 Millions last year to Rs.913.500 Millions in the year. The company witnessed an overall rise in all costs during the year on account of various external factors. However with an all round focused and un-relented approach by the Management on various cost saving initiatives the Company could reduce the overall burden of cost increase to a great extent.
FIBRE CEMENT SHEET PRODUCTS
Fibre Cement Sheets continue to be the major revenue earner for the Company. Year 2012-13 was difficult for the manufacturing sector, especially for the building material sector. The Fibre cement industry registered a growth of an only 3% mainly due to poor demand from housing and infrastructure sectors. However, despite all the odds, the company's sales volume grew by 5.5 % and the company continues to maintain its market leadership. A silver lining is seen on the horizon of 2013-14. The Indian economy is on its path of recovery as is the Government's increased spending on housing infra projects. The Fibre Cement Sheet Industry is estimated to grow between 5% and 6% during the financial year 2013-14.
The Government's increased focus on low cost mass housing, providing school shelter and developing proper infrastructure in the rural areas are gaining momentum. These initiatives will be the key drivers which will influence the demand for construction material. The Fibre cement sheets will continue to be the preferred choice for the roofing requirement of millions of rural population in India. With augmenting of existing capacities established and new facilities being planned, the company is confident of its growth aspirations and maintaining its market leadership.
GREEN BUILDING PRODUCTS
The Government's continued support, focus and encouragement for using green building products has given an additional impetus to the growth of the building material industry. Environment sustainability, reduction of carbon emissions, educating masses on green building products, providing eco-friendly solutions have been HIL's approach. A commitment towards producing green building products and solutions with an ultimate aim of helping the Construction and Infrastructure Industry to build green and sustainable habitats has been the vision followed by the Company consistently.
In addition to IGBC, Aerocon Panels and Blocks obtained GRIHA green product certification in 2012-13. Many strategic initiatives were undertaken during this period to create pull for the brand. Event sponsorship and awards helped establish connect with the right target group, and is helping in establishing a strong bond with all their customers.
The year 2012-13 was also a year of recognition of HIL's efforts by the industry. The Company is proud to receive Manufacturing Excellence award by ITP publishing, Design Wall award by ET Acetech, Outstanding Entrepreneur by GOI, Best Innovation in Brand Management, Innovation in HR practices, Best Innovation in sustainability and Innovative product category, the awards and accolades received is a testimony of HIL's commitment to excellence and market leadership.
AEROCON AAC – BLOCKS
Well planned and successful marketing strategies have made Aerocon Blocks a much preferred choice over competition. Customer focus, quality and speed of delivery have been HIL's core strength. Today, Aerocon is a preferred choice of the customers.
Aerocon blocks registered an impressive growth of 26% in volume terms during 2012-13. The acceptance of AAC blocks has increased many folds in the building industry due to its economy, reduced consumption of high value materials like steel, cement, sand, water, labour etc. This has led to a higher penetration in this product category and an increase in demand. AAC blocks manufacturing is a low entry barrier business leading to many regional players mushrooming in a short span of time. Due to this, the competition is likely to intensify further. Branding and aggressive sales strategies will be the key differentiators for Aerocon blocks.
AEROCON PANELS
In view of considerable slow down in the infrastructure projects where Aerocon Panels are mostly used, the business was adversely affected in 2012-13. However, the infrastructure segment is expected to pick up momentum during second half of 2013-14 with major focus on segments such as Hospitality, Healthcare, Education, Industrial, IT and ITES. The company will also focus on Tier 2 and Tier 3 towns which are witnessing good growth in real estate and infrastructure projects.
THERMAL INSULATION – HYSIL
The Thermal insulation industry did see a modest growth in 2012-13, majorly due to postponement of most of the green field projects and expansions. Hysil's increased focus on exports ensured sustainable growth. In 2013-14, sales grew by 9% of which exports contributed to 5%. Breakthrough in UAE and Iran markets will accelerate growth. HYSIL has received international certifications “TUV-SUD” and “CE” which will give access in other countries as well. The company will continue its focus on exports primarily to GCC countries.
NEW PROJECTS
As a part of their market share enhancement strategy, the Company is constantly exploring options for augmenting capacity at the existing locations and also by setting up new plants in strategic locations to keep pace with the growing demand for their products.
During the year the Company has started land acquisition process for its proposed new AAC Blocks unit.
Wind Power: - Expanding its footprint into the renewable energy sector the Company has set up a 2.50 MW Wind Power Project in Jodhpur District of Rajasthan during the year. With this the total Wind Power installed Capacity of the Company has increased to 7.35MW.
AWARDS AND ACCOLADES
HIL has won many awards and accolades over several years and in the recent past has kept adding many more feathers in its cap.
· Glory of India – Institute of Economic Studies
· Excellency in Productivity and Innovation
· Udyog Ratna – IES
· Concor Award
· Best Management Award – Government of Andhra Pradesh
· Innovative Product - Bronze Medal – ET- AceTech Award
· Manufacturing Excellence Award - ITP Publishing
· Best Innovation in HR – Indira Award
· Best Innovation in Brand Management – Indira Award
· Best Innovative Product of the Year – Indira Award
· Best Innovation in Sustainability – Indira Award
· Greenco Award – Gold
· Outstanding Entrepreneur of the Year – Government of India
MANAGEMENT DISCUSSION AND ANALYSIS
OVERVIEW
The Global Economic Growth witnessed a speedy deceleration during last year which had a marked effect on the Indian Economy too. Their Economy experienced a slowdown on various fronts more particularly industrial growth, but the decline appears to have bottomed out. Overall economic growth is expected to rise to 6.4 percent in 2013-14 from estimated 5 per cent in the previous year. Economic growth during the year declined more steeply than what is warranted by the decline in investment.
Inflation continues to remain high, but there are definite signs that headline WPI inflation is coming down. Non-food manufacturing inflation remains around the comfort zone. As inflation comes down, it will create more space for monetary policy to support growth. The current account deficit, however, remains a source of concern, despite the fact that the financing of the deficit has not been a problem so far.
The next decade will be a crucial period for India. While even existing rates of investment should enable us to grow at about 7.0 per cent over the short term, a return to higher levels of savings and investment can take us back to the very high levels of growth which they had seen earlier. It is only the faster rate of growth which will enable us to meet many of their important socio-economic objectives.
INDUSTRY AND COMPANY TREND
The Company's business is directly influenced by the activities in the Infrastructure and Construction Industry and the overall performance of the rural economy. Infrastructure development and maintenance is a major input to boost economic development and for sustaining growth in an economy. In India, the sector accounts for nearly 17.5% of the GDP, second only to agriculture and is the second largest employer with over 50 million people. India has a $1 trillion infrastructure need over the next five years in order to achieve the GDP growth target of 8 per cent during the 12th Plan period. With the huge investments planned in the construction industry, tremendous growth opportunities are expected to arise for the building product companies.
Across the emerging economies in the world, the construction industry is witnessing a significant growth and India is of no exception. The Indian construction industry is currently the 9th largest market in the world and will become the 3rd largest in the world by 2020. Government polices and expenditure on infrastructure, training and regeneration projects have helped the sector grow at cumulative growth rate of 19% since 2001and the same or better pace is likely to be seen in the coming years. India's population is fast urbanizing - 500 million (36%) of urban population estimated by 2020. Additional population will generate unprecedented demand for quality real estate and infrastructure including housing. The housing market is expected to witness growth of around 14%p.a.
The ongoing economic slump has impacted not only the industrial and urban sectors but also the rural economy. Much of the increase in rural incomes in last few years was because of four straight good monsoons and high support prices. Also, income transfers through schemes like NREGS and farm loan waiver has added to rural demand. Fiscally strained Government may, however, find it difficult to provide such large subsidies or transfers in the future. Furthermore the dependence on monsoons will always have an impact on the rural economy. The rural economy, therefore, needs to be de-risked and strengthened.
A study conducted by Credit Suisse unlike traditional perceptions, claims that the rural India is no more solely dependent on agriculture. While service sector accounted for over 28% of rural GDP, the share of industry in rural areas has grown at a faster rate to over 30%. Many small and medium entrepreneurial emergences are a lead indicator of progress and increase in consumption. The Company is gearing up, to take advantage of this opportunity, raring to go on a strong growth trajectory, consistently creating wealth for its shareholders.
OUTLOOK FOR THE COMPANY
India continues to be one of the fastest growing economies in the world. The consumption story of their country remained intact over the years which continue to drive the overall industrial growth. India's growth story is slightly different as compared to its peer China, whose main reliance on exports to developed countries, which faced times of uncertainty during the recent economic crisis. The consumption from rural and semi-urban verticals of the economy continues to drive the growth of the India to large extent.
In India around 50% of the Indian population is still looking for permanent roofing for their livelihood. As per the recent report released by the Government Kuccha (tachet) roofing raises alarms on security, safety and health concerns. Whenever the income level of the rural population rises the first thing they look for is to have a permanent roof over their Home. A reasonably good monsoon predicted by the Metrological department for the current year and Government's continued thrust to provide adequate shelter to the rural poor by introducing various programs like Indira Awas Yojna, Golden Jubilee Rural Housing Finance Scheme, etc., will boost the demand for various building products, providing a huge potential for the Company's "CHARMINAR" roofing sheets.
The fibre cement sheet industry is likely to witness a modest growth of around 5% in the current year. HIL's efforts to address the increasing requirement on account of change over in consumption and demand pattern yielded good results by retaining its leadership position in the Industry. Being a market leader over several years, with its strong brand "CHARMINAR", coupled with extensive distribution network across the country, matured marketing strategy and motivated marketing and sales team, HIL is well poised to capitalise the opportunities provided by the rural India and is all set to increase its market presence and improve its market share.
Climate change continues to be concern worldwide and India is making its bit to minimize the impact of the climate change by creating awareness on the use of Green Building Products. The initiative of the Government garnered goods response from the society and the people started talking about the usage of environment friendly materials for their consumption. Company's Green building Aerocon products which are environment friendly are garnering the attraction of building community over the last few years. The "AEROCON" brand is a reflection of quality and reliability helped the Company to grow the Green building division by a healthy 25% in 2013-14. Their shift in focus towards providing "complete building solution" approach helped the customers to use their products more efficiently. In view of the inherent advantages of the product, there will be pressure on prices as competition is likely to intensify further as new capacities are created to meet the growing demand.
The Company's efforts to position itself as a "Complete building solution provider" with superior and consistent quality and service level evoked good response from the market. The Company is constantly expanding the product portfolio to further increase its presence in the segment. Company's thrust on exports with its international certification of TUV-SUD and CE for one of its product will further accelerate the growth and prospects for HYSIL.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
a. Demand raised by the Income Tax authorities, being disputed by the
Company |
110.770 |
105.727 |
|
b. Demands raised
by Sales tax authorities, being disputed by the Company. |
124.432 |
82.276 |
|
c. Demands
(Including penalties) raised by Excise authorities, being disputed by the
Company. |
156.579 |
137.638 |
|
d. Appeal filed by
the Company before the High Court of Judicature of Andhra Pradesh against the
decision of appeal in favour of the Income tax department pertaining to
wealth tax matter. |
5.698 |
5.698 |
|
e. Pending cases with Income Tax Appellate Authorities where Income
Tax Department has preferred appeals. |
Liability not ascertainable |
Liability not ascertainable |
|
f. Demand for Property Tax, being disputed by the Company |
30.586 |
40.168 |
|
g. Other claims against the Company not acknowledged as debts |
35.361 |
35.361 |
|
Note: Based on
favourable decisions in similar cases, legal opinion taken by the Company,
discussions with the solicitors, etc., the Company believes that there is
fair chance of decisions in its favour in respect of all the items listed
above and hence no provision has been considered necessary against the same. |
||
FIXED ASSETS:
· Freehold Land
· Leasehold Land
· Buildings
· Railway sidings
·
Plant and Machinery
· Furniture and Fittings
· Office Equipments
·
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 59.95 |
|
UK Pound |
1 |
Rs. 99.36 |
|
Euro |
1 |
Rs. 82.15 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.