MIRA INFORM REPORT
|
Report Date : |
05.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
SREE RAYALASEEMA ALKALIES AND ALLIED CHEMICALS LIMITED |
|
|
|
|
Registered
Office : |
Gondiparla, Kurnool - 518 004, Andhra Pradesh |
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Country : |
India |
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|
Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
24.06.1981 |
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Com. Reg. No.: |
01-003077 |
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Capital
Investment / Paid-up Capital : |
Rs. 937.099 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24110AP1981PLC003077 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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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
: |
Manufactures and sells organic chemicals, inorganic chemicals, and castor oil derivatives. |
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No. of Employees
: |
1020 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 7853000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is the flagship company of the TGV Group. It is an established company having moderate track record. Profitability of the company seems to be low during 2014. However, trade relations are fair. Business is active. Payment terms
are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks over
coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities B+ |
|
Rating Explanation |
Have high risk of default. |
|
Date |
October 17, 2014 |
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
31-03-2014.
INFORMATION DENIED
MANAGEMENT NON CO-OPERATIVE (91-8518-289602)
LOCATIONS
|
Registered Office / Factory : |
Gondiparla, |
|
Tel. No.: |
91-8518-280006 / 7 / 8 |
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Fax No.: |
91-8518-280098 |
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E-Mail : |
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|
Website : |
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Corporate Office : |
40-304, 2nd Floor, K J. Complex, Bhagyanagar, |
|
Tel. No.: |
91-8518-289602 / 03 / 220164 / 228750 |
|
Fax No.: |
91-8518-289602 /03 / 220164 / 228750 |
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|
|
|
Administrative office : |
TGV Mansions II Floor, Opposite Institute of Engineers, #
6-2-1012 Khairatabad |
|
Tel. No.: |
91-40-3313860 |
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Fax No.: |
91-40-3313875 |
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|
|
|
Branch Office : |
Located
At
|
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. T. G. Venkatesh |
|
Designation : |
Chairman and Managing Director (From 26.05.2014) |
|
|
|
|
Name : |
Mr. G Krishna Murthy |
|
Designation : |
Director |
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Date of Birth/Age : |
17.09.1941 |
|
Experience : |
45 Years |
|
Date of Appointment : |
30.11.1996 |
|
|
|
|
Name : |
Mr. M P Murti |
|
Designation : |
Director ((Upto 07.08.2013) |
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Date of Birth/Age : |
01.12.1919 |
|
Qualification : |
M.SC. M.S (Case Western-USA) |
|
Experience : |
More than 40 years Industrial experience at very senior level in
Indian and Multi National Companies. |
|
Date of Appointment : |
June 25, 1986 |
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|
|
|
Name : |
Mr. K. Davidson |
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Designation : |
Nominee of IDBI from 29.06.2013 |
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|
Name : |
Mrs. Shalini Soni |
|
Designation : |
Nominee of IFCI from 30.07.2014 |
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|
Name : |
Mrs. S. Usha |
|
Designation : |
Nominee of IFCI upto 30.07.2014 |
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|
|
|
Name : |
Mr. P N Vedanarayanan |
|
Designation : |
Director |
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Date of Birth/Age : |
04.06.1933 |
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Experience : |
45 Years |
|
Date of Appointment : |
01.04.1994 |
|
|
|
|
Name : |
Mr. O D Reddy |
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Designation : |
Director |
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Date of Birth/Age : |
15-03-1940 |
|
Qualification : |
B.Sc (Agriculture) |
|
Experience : |
More than 35
years’ experience at Senior level in Management and Administration in Govt.
undertaking. |
|
Date of Appointment : |
December 31, 1996 |
|
|
|
|
Name : |
Mr. K Karunakar Rao |
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Designation : |
Executive Director and Chief Executive Officer |
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|
|
|
Name : |
Mr. N. Jesvanth Reddy |
|
Designation : |
Executive Director (Technical) |
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|
|
|
Name : |
Mr. C. Rajesh Khanna |
|
Designation : |
Senior General Manager (F & A) and CFO |
KEY EXECUTIVES
|
Name : |
Mr. V Radhakrishna Murthy |
|
Designation : |
Company Secretary and Chief General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Category of Shareholder |
Total No. of Shares |
% of Total No. of Shares |
|
(A) Shareholding of Promoter
and Promoter Group |
||
|
|
|
|
|
|
862137 |
1.10 |
|
|
38426081 |
48.81 |
|
|
39288218 |
49.91 |
|
|
|
|
|
Total shareholding of Promoter
and Promoter Group (A) |
39288218 |
49.91 |
|
(B) Public Shareholding |
||
|
|
|
|
|
|
17937 |
0.02 |
|
|
10142083 |
12.88 |
|
|
615885 |
0.78 |
|
|
10775905 |
13.69 |
|
|
|
|
|
|
5714362 |
7.26 |
|
|
|
|
|
|
12122853 |
15.40 |
|
|
9548032 |
12.13 |
|
|
1271476 |
1.62 |
|
|
1271476 |
1.62 |
|
|
28656723 |
36.40 |
|
Total Public shareholding (B) |
39432628 |
50.09 |
|
Total (A)+(B) |
78720846 |
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) |
78720846 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufactures and sells organic chemicals, inorganic chemicals, and castor oil derivatives. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS –
NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
1020 (Approximately) |
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Bankers : |
v Indian Bank v United Bank of India v The South Indian Bank Limited v IDBI Bank Limited v The Federal Bank Limited v Canbank Factors Limited |
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Facilities : |
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Auditors : |
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|
Name : |
Brahmayya and Company Chartered Accountants |
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Address : |
21 / 142 - 6, S. K. D. Colony Extn. Adoni - 518301,
Andhra Pradesh, India |
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|
|
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Memberships : |
-- |
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|
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Collaborators : |
-- |
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Associates: |
Sree Rayalaseema Hi-Strength Hypo Limited |
CAPITAL STRUCTURE
AFTER 07.08.2013
Authorised Capital : Rs. 1000.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 976.032
Millions
As on 31.03.2014
1.1 EQUITY SHARE CAPITAL
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8,10,00,000 |
Equity Shares |
Rs.10/- each |
Rs. 810.000 Millions |
|
|
|
|
|
Issued:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,49,64,890 |
Equity Shares |
Rs.10/- each |
Rs. 49.649 Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,47,84,804 |
Equity Shares |
Rs.10/- each |
Rs. 747.848 Millions |
|
|
Forefited Shares Amount received on forfeiture of 1,80,086 equity shares originaly issued in 1995-96 |
|
Rs. 0.428 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 748.276
Millions |
1.2 PREFERENCE SHARE CAPITAL
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,90,00,000 |
Cumulative Redeemable Preference Shares |
Rs.10/- each |
Rs. 190.000 Millions |
|
|
|
|
|
Issued:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,88,82,332 |
Cumulative Redeemable Preference Shares |
Rs.10/- each |
Rs. 188.823 Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,88,82,332 |
Cumulative Redeemable Preference Shares |
Rs.10/- each |
Rs. 188.823 Millions |
|
|
|
|
|
|
|
TOTAL SHARE CAPITAL (1.1+1.2) |
|
Rs. 937.099 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
937.099 |
899.707 |
864.184 |
|
(b) Reserves & Surplus |
1772.415 |
1724.697 |
1347.419 |
|
(c) Money
received against share warrants |
39.360 |
76.753 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
2748.874 |
2701.157 |
2211.603 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
1091.048 |
1101.868 |
1320.779 |
|
(b) Deferred tax liabilities (Net) |
663.165 |
686.339 |
742.504 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
1754.213 |
1788.207 |
2063.283 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1517.466 |
1648.481 |
2073.766 |
|
(b) Trade
payables |
758.223 |
747.113 |
766.780 |
|
(c) Other
current liabilities |
1170.188 |
805.484 |
765.547 |
|
(d) Short-term
provisions |
15.044 |
83.207 |
57.558 |
|
Total Current
Liabilities (4) |
3460.921 |
3284.285 |
3663.651 |
|
|
|
|
|
|
TOTAL |
7964.008 |
7773.649 |
7938.537 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
4310.337 |
4556.520 |
4598.326 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
1263.216 |
695.241 |
526.148 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
17.109 |
17.079 |
19.882 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
389.378 |
488.306 |
257.064 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
5980.040 |
5757.146 |
5401.420 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
624.875 |
607.500 |
770.161 |
|
(c) Trade
receivables |
524.852 |
597.026 |
662.327 |
|
(d) Cash
and cash equivalents |
220.368 |
307.890 |
595.569 |
|
(e)
Short-term loans and advances |
208.092 |
229.482 |
310.690 |
|
(f) Other
current assets |
405.781 |
274.605 |
198.370 |
|
Total
Current Assets |
1983.968 |
2016.503 |
2537.117 |
|
|
|
|
|
|
TOTAL |
7964.008 |
7773.649 |
7938.537 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
7690.261 |
8165.827 |
7880.771 |
|
|
|
Other Income |
40.079 |
45.753 |
45.884 |
|
|
|
TOTAL |
7730.340 |
8211.580 |
7926.655 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
2981.931 |
3645.632 |
4162.612 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(21.179) |
56.053 |
14.293 |
|
|
|
Employees benefits expense |
316.063 |
333.510 |
276.419 |
|
|
|
Power and fuel charges |
2768.015 |
2206.840 |
1742.921 |
|
|
|
Other expenses |
714.249 |
778.585 |
736.039 |
|
|
|
Exceptional Items |
134.571 |
0.000 |
|
|
|
|
TOTAL |
6893.650 |
7020.620 |
6932.284 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
836.690 |
1190.960 |
994.371 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
342.065 |
384.450 |
351.797 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
494.625 |
806.510 |
642.574 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
355.330 |
405.097 |
366.255 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
139.295 |
401.413 |
276.319 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
91.577 |
24.135 |
137.473 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
47.718 |
377.278 |
138.846 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
388.743 |
261.465 |
272.619 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
100.000 |
150.000 |
50.000 |
|
|
|
Transfer to Debenture |
0.000 |
0.000 |
50.000 |
|
|
|
Redemption reserve |
50.000 |
100.000 |
50.000 |
|
|
BALANCE CARRIED
TO THE B/S |
286.461 |
388.743 |
261.465 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
751.452 |
912.705 |
1208.462 |
|
|
TOTAL EARNINGS |
751.452 |
912.705 |
1208.462 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
454.798 |
521.742 |
772.348 |
|
|
|
Coal |
82.582 |
32.673 |
170.201 |
|
|
|
Chemicals & Spares &
Stores |
40.035 |
49.542 |
71.648 |
|
|
|
Capital Goods / Services |
170.450 |
83.915 |
105.216 |
|
|
TOTAL IMPORTS |
747.865 |
687.872 |
1119.413 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
|
|
|
|
|
|
Basic
|
0.64 |
5.50 |
2.06 |
|
|
|
Diluted
|
0.64 |
5.44 |
2.03 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.62 |
4.62 |
1.76 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/ Sales) |
(%) |
10.88 |
14.58 |
12.62 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.08 |
5.68 |
3.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.15 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.95 |
1.02 |
1.53 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.57 |
0.61 |
0.69 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
864.184 |
899.707 |
937.099 |
|
Reserves & Surplus |
1347.419 |
1724.697 |
1772.415 |
|
Money received against share warrants |
0.000 |
76.753 |
39.360 |
|
Net
worth |
2211.603 |
2701.157 |
2748.874 |
|
|
|
|
|
|
long-term borrowings |
1320.779 |
1101.868 |
1091.048 |
|
Short term borrowings |
2073.766 |
1648.481 |
1517.466 |
|
Total
borrowings |
3394.545 |
2750.349 |
2608.514 |
|
Debt/Equity
ratio |
1.535 |
1.018 |
0.949 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
7880.771 |
8165.827 |
7690.261 |
|
|
|
3.617 |
(5.824) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
7880.771 |
8165.827 |
7690.261 |
|
Profit |
138.846 |
377.278 |
47.718 |
|
|
1.76% |
4.62% |
0.62% |
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 |
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
LONG-TERM
BORROWINGS |
|
|
|
Deferred Payment liabilities (Sales Tax deferrment/ loan sanctioned as per State Incentive Schemes (Repayable from the year 2018-19 to 2023-24 ) |
83.237 |
83.237 |
|
Loans and advances from related parties (contribution from promotors group as per approved project scheme and convertible into Equity) |
161.314 |
75.924 |
|
|
|
|
|
Total |
244.551 |
159.161 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10395983 |
20/12/2012 |
50,000,000.00 |
INDIAN BANK |
254-260, AVVAI SHANMUGHAM SALAI, ROYAPETTAH,
CHENNAI, Tamil Nadu - 600014, INDIA |
B65513673 |
|
2 |
10364610 |
15/05/2012 |
194,700,000.00 |
THE SOUTH INDIAN BANK LIMITED |
G-01, LALA-II, OASIS PLAZA, TILAK ROAD,
ABIDS, HYDERABAD, Andhra Pradesh - 500001, INDIA |
B43239490 |
|
3 |
10312119 |
06/09/2011 |
100,000,000.00 |
INDIAN BANK |
NO.66, RAJAJI SALAI, POST BOX NO.1384,
CHENNAI, Tamil Nadu - 600017, INDIA |
B23242514 |
|
4 |
10265917 |
07/01/2011 |
100,000,000.00 |
INDIAN BANK |
NO.66, RAJAJI SALAI, CHENNAI, Tamil Nadu -
600001, INDIA |
B04873121 |
|
5 |
10252562 |
06/09/2011 * |
360,000,000.00 |
INDIAN BANK |
NO.66, RAJAJI SALAI, POST BOX NO.1384,
CHENNAI, Tamil Nadu - 600017, INDIA |
B23238405 |
|
6 |
10230405 |
23/07/2013 * |
305,500,000.00 |
IDBI BANK LIMITED |
No.115, Anna Salai, P.B.No.805, Saidapet,
Chennai, Tamil Nadu - 600015, INDIA |
B82655606 |
|
7 |
10223575 |
04/05/2010 |
199,200,000.00 |
INDIAN BANK |
NO.66, RAJAJI SALAI, CHENNAI, Tamil Nadu -
600001, INDIA |
A86662129 |
|
8 |
10109743 |
15/05/2012 * |
305,500,000.00 |
IDBI BANK LIMITED |
NO.115, ANNA SALAI, P.B.NO805, SAIDAPET,
CHENNAI, Tamil Nadu - 600015, INDIA |
B42605428 |
|
9 |
80028683 |
20/03/2007 * |
20,517,664.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17, R.Kamani Marg,
Ballard Estate, MUMBAI- 400 001., Maharashtra - 400 |
- |
|
10 |
80028842 |
07/03/2002 * |
31,080,000.00 |
IDBI Trusteeship Services Limited |
IDBI Tower, Cuffe parade, Mumbai,
Maharashtra - 4 |
- |
|
11 |
80028682 |
20/03/2007 * |
332,620,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17, R.Kamani
Marg, Ballard Estate, MUMBAI- 400 001., Maharashtra - 400 |
- |
|
12 |
80028844 |
23/07/2013 * |
1,118,800,000.00 |
Indian Bank |
254-260, Avvai Shanmugham Salai,
Royapettah, Chennai, Tamil Nadu - 600014, INDIA |
B83565549 |
|
13 |
80028843 |
20/03/2007 * |
100,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17, R.Kamani Marg,
Ballard Estate, MUMBAI- 400 001., Maharashtra - 400001, INDIA |
- |
|
14 |
80028681 |
20/03/2007 * |
100,000,000.00 |
INDUSTRIAL FINANCE CORPORATION INDIA
LIMITED |
TARAMANDAL OFFICE COMPLEX, 8TH FLOOR, 5-9-13,
SECRETARIAT ROAD, SAIFABAD, HYDERABAD, Andhra Pradesh - 500004, INDIA |
- |
|
15 |
80028854 |
20/03/2007 * |
100,000,000.00 |
INDUSTRIAL FINANCE CORPORATION INDIA
LIMITED |
TARAMANDAL OFFICE COMPLEX, 8TH FLOOR, 5-9-13,
SECRETARIAT ROAD, SAIFABAD, HYDERABAD, Andhra Pradesh - 500004, INDIA |
A14579031 |
|
16 |
80028849 |
23/07/2013 * |
743,100,000.00 |
United Bank of India |
Hyderabad Branch, 4-3-331, Bank Street,
Hyderabad, Andhra Pradesh - 500195, INDIA |
B83271932 |
|
17 |
80028680 |
20/03/2007 * |
41,000,000.00 |
INDUSTRIAL FINANCE CORPORATION INDIA
LIMITED |
TARAMANDAL OFFICE COMPLEX, 8TH FLOOR,
5-9-13, SECRETARIAT ROAD, SAIFABAD, HYDERABAD, Andhra Pradesh - 500004, INDIA |
- |
|
18 |
80029018 |
23/07/2013 * |
244,700,000.00 |
THE SOUTH INDIAN BANK LIMITED |
G-01, LALA-II, OASIS PLAZA, TILAK ROAD,
ABIDS, HYDERABAD, Andhra Pradesh - 500001, INDIA |
B83720706 |
|
19 |
80028229 |
16/06/1998 * |
8,500,000.00 |
The Industrial Finance Corporation of India |
IFCI Tower, 61, nehru place, New Delhi,
Delhi - 1 |
- |
|
20 |
80027936 |
20/03/2007 * |
138,000,000.00 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA
LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE,
MUMBAI, Maharashtra - 400005, INDIA |
- |
|
21 |
80028679 |
20/03/2007 * |
170,000,000.00 |
INDUSTRIAL FINANCE CORPORATION INDIA
LIMITED |
TARAMANDAL OFFICE COMPLEX, 8TH FLOOR,
5-9-13, SEC |
- |
|
22 |
80028846 |
15/05/2012 * |
115,400,000.00 |
THE FEDERAL BANK LIMITED |
LAKDI-KA-PUL BRANCH, 6-2-953, KRISHNA
PLAZA, KHAIRATABAD, HYDERABAD, Andhra Pradesh - 500004, INDIA |
B41027731 |
|
23 |
80028851 |
23/07/2013 * |
115,400,000.00 |
The Federal Bank Limited |
6-2-981, Maruthi Plaza, Beside Shadan
College, Khairatabad, Hyderabad, Andhra Pradesh - 500004, INDIA |
B83481689 |
|
24 |
80028852 |
29/03/2011 * |
244,700,000.00 |
THE SOUTH INDIAN BANK LIMITED |
G-01, LALA-II, OASIS PLAZA, TILAK ROAD, ABIDS,
HYDERABAD, Andhra Pradesh - 500001, INDIA |
B12677290 |
|
25 |
80027935 |
20/03/2007 * |
114,000,000.00 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA
LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE,
MUMBAI, Maharashtra - 400005, INDIA |
A14218077 |
|
26 |
80028853 |
20/03/2007 * |
108,000,000.00 |
INDUSTRIAL FINANCE CORPORATION INDIA
LIMITED |
TARAMANDAL OFFICE COMPLEX, 8TH FLOOR,
5-9-13, SECRETARIAT ROAD, SAIFABAD, HYDERABAD, Andhra Pradesh - 500004,
INDIA |
- |
|
27 |
80027934 |
20/03/2007 * |
250,000,000.00 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA
LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE,
MUMBAI, Maharashtra - 400005, INDIA |
- |
|
28 |
80028848 |
23/07/2013 * |
135,000,000.00 |
Canbank Factors Limtied |
Flat No.201 & 202, II Floor, Sanatana Eternal,
Road No.19, Himayat Nagar, Hyderabad, Andhra Pradesh - 500029, INDIA |
B83060459 |
|
29 |
80027932 |
20/03/2007 * |
50,000,000.00 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA
LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI,
Maharashtra - 400005, INDIA |
- |
|
30 |
80027933 |
20/03/2007 * |
125,000,000.00 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA
LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE,
MUMBAI, Maharashtra - 400005, INDIA |
- |
|
31 |
80003172 |
15/05/2012 * |
758,800,000.00 |
INDIAN BANK |
NO.66, RAJAJI SALAI, CHENNAI, Tamil Nadu -
600001, INDIA |
B41763137 |
|
32 |
80028850 |
06/07/2013 * |
888,100,000.00 |
UNITED BANK OF INDIA |
HYDERABAD BRANCH, 4-3-331, BANK STREET,
HYDERABAD, Andhra Pradesh - 500195, INDIA |
B81372484 |
* Date of charge modification
OPERATIONS:
The turnover for the year
is Rs.8509.500 millions as compared to Rs.9094.100 millions in the previous
year. The decrease is on account of prolonged disturbances in the State and
severe power cuts in the first quarter
MANAGEMENT DISCUSSION AND ANALYSIS:
The Company is having
mainly three Business Divisions namely:-
(1) Chemicals Division
(2) Oils and Fats Division
(3) Power Division
Division wise analysis of
Industry Structure, Opportunity and Threats and Out Look are discussed
hereunder for information of the members.
CHEMICALS DIVISION:
Under the Chemicals
division mainly the products viz., Caustic Soda, Pottasium Hydroxide, Chlorine,
Hydrochloric Acid etc. are manufactured. Chlorine is produced as a joint
product along with Caustic Soda and Pottasium Hydroxide. Caustic Soda is used
in industrial products like paper, pulp, aluminium, pvc, pharmaceuticals etc,
chlorine is used in water treatment, pigments, pulp, paper, textiles etc. and
Hydrochloric Acid is used in pesticides, cleaning purposes of metal etc.
Potassium Hydroxide is used in the manufacture of cellulose power, magnafloc
and sodium sulphate.
Basically Chlor Alkali Industry
is cyclical in nature. Caustic Soda is a basic chemical and is used in almost
all manufacturing processes. The performance of alkalie industry is reflected
in the performance of the industry in general and also country's GDP. The Chlor
Alkalie industry being power intensive, any increase in power cost and its
availability would affect its performance. The commercial disposal of chlorine
is the main concern for any caustic unit. To overcome this the Company has
started construction of Chloromethane project. Works relating to the
Chloromethane Project are in full swing. Unseasonal rains have affected salt
availability in the market and as a result the cost of main raw material has
gone up. So also the case with power front. To achieve optimum utilization of
resources and to take advantages of market situation the company will change
the product mix between Caustic Soda and Caustic Potash.
OILS AND FATS DIVISION:
Wide fluctuations in raw
materials mainly vegitable and non-vegitable oils is the basic nature of this
division. In view of the agricultural based raw materials procurement process
will stress the liquidity of the Industry in general. Transportation from
agricultural markets and farmers is one of the problem due uneconomic sizes in
procurement. However export oriented finished goods will ease this problem.
Castor oil derivatives (comprising of Hydrogenated Castor Oil, 12 Hydroxy
Stearic Acid and Recinolic Acid), Fatty Acids, Soap noodles, Glycerine and
bathing / toilet soap forms part of this division. The raw materials namely
Castor Oil, various industrial vegetable oils and crude glycerine are highly
volatile in their prices in view of this procurement of raw materials is to be
planned properly. India is a leading country in exporting castor oil
derivatives with abundant availability of raw material. Being a composite
plant, many inputs like caustic soda, steam, Hydrogen are available internally
and the same is main advantage and an opportunity for the company. During the
year the market for both fatty acids and castor oil is encouraging and it is
hoped that the same will prevail in future. Frequent fluctuations in Castor Oil
prices is the main concern for this division.
POWER DIVISION:
The Power Plant at Bellary
has been stopped its commercial operation due to non-renewal of Power Purchase
Agreement by KPTCL. The Company is looking out at other options including sale
or lease or relocation.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
|
|
|
|
|
|
Cheques / Bills Discounted with Banks |
17.172 |
51.367 |
|
|
Unexpired Letter of Credits/Bank guarantees (net of margin money paid) |
80.411 |
78.663 |
|
|
Estimated amount of Contracts remaining to be executed on Capital Account. (Net of advances). |
282.488 |
460.315 |
|
|
Arrears of dividend on cumulative redeemable preference shares of Rs.1888.23 lakhs at a coupon rate of 0.01 % issued and allotted as per Debt Restructuring package and scheme of arrangement sanctioned by High Court of A.P. for the period from 01.04.2002 to 31.03.2014. (Payable after 15 years) i.e., from 01.04.2018. |
0.227 |
0.208 |
|
|
Claims against the company
not acknowledged as debts, being disputed and pending in appeals/ Assessments
in respect of |
|
|
|
|
Central excise matters regarding Cenvat credit availed on input consumables and on service tax payments on input services like freight, telephone, and courier etc., |
37.078 |
36.862 |
|
|
Customs matters regarding dispute on classification of goods pending before High Court |
0.990 |
0.992 |
|
|
Imposition of Anti Dumping Duty on in puts during December, 2010 pending before ADC, Customs |
3.269 |
3.269 |
|
|
Disputed duty levied on import of material during the year 2006-07 pending in appeal before the Commissioner Appeals. |
1.606 |
1.606 |
|
|
Sales tax matters regarding Input tax credit availed on fuels used for steam generation disallowed by the Department and levied penalty and interest; Case is pending before Hon' ble High Court of AP (Paid under Protest ) |
5.391 (5.391) |
5.391 (5.391) |
53. |
|
Claims of Vat regarding dispute of Turnover, input tax credit on sales returns and stock transfer value treated as sale on account of non acceptance of form F are pending inappeal before Appellate Asst. Commissioner (CT) Palakkad and Sales Tax Tribunal, Ernakulam (Paid under protest) |
4.424 (0.694) |
4.424 (0.13) |
|
|
Claim of entry tax and interest on Entry Tax payable on Machinery items is pending before Assessing Officer DC (CT), Bellary (50% Paid ) |
0.420 (0.210) |
0.420 (0.210) |
|
|
Sales tax matters regarding liability of interest on delay in payment of deferred sales tax liability for the years 2005-06 and 2006-07. Stay petition filed and stay granted by Hon'ble High Court of AP. (Paid under protest) |
13.211 (4.404) |
13.211 -- |
|
|
Liability of differential tax for non submission of C forms for the year 2009-10 Case is pending before Appellate Deputy Commissioner ( Paid under protest) |
1.643 (0.205) |
1.643 (0.205) |
|
|
Levy of delay charges on late payment of Provident Fund by Regional Provident Fund Commissioner. |
1.534 |
1.534 |
|
|
Wheeling Charges levied by APCPDCL pending in Supreme Court |
2.421 |
2.421 |
|
|
The Fuel Surcharge Adjustment (FSA) charges for the year 2008-09, 2009-10 and for the 1st quarter of 2010-11 payable to APCPDCL was contested by the Industrial unitsincluding the company before Hon'ble High Court of A.P. and obtained favourable order for 2008-09 and the matter was referred to Supreme Court and the same is pending. Hon'ble High Court granted stay for the year 2009-10 and first quarter of 2010-11. |
156.727 |
156.727 |
|
|
Differential duty on procurement of raw material as per show cause notices issued by the Customs Authorities is contested and for which no provision is considered as there will be no liability on the company as per legal opinion obtained (paid under Protest) |
116.114 (12.500) |
116.114 (12.500 |
|
|
Demand raised by Power Distribution Companies (DISCOMS) for the differential tax on account of change in Income Tax rates / tax holiday as per terms of PPA was contested by the Company before the Electricity Regulatory Commission and the liability has been reduced to Rs. 50.000 Millions. The DISCOMS have recovered the same from monthly bills. The company contested before the Supreme Court for refund of the recovered amount and it is pending. (Recovered amount is shown under loans and advances) |
50.000 (50.000) |
50.000 (50.000) |
|
FIXED ASSETS
œ Free hold Land and Development
œ Lease hold Land
œ Buildings
œ Plant and Machinery
œ Power Plant and Machinery
œ Electricals and D.G. Sets
œ Furniture and Fittings
œ Office and Telephone Equipment’s
œ Computers
œ Vehicles
UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED ON
30th
SEPTEMBER, 2014
(Rs. In Millions)
|
|
|
Particulars |
Quarter Ended |
Year
Ended |
|
|
|
|
|
30.09.2014 |
30.06.2014 |
30.09.2014 |
|
1 |
Income from Operations |
|
|
|
|
|
|
|
Sales/Income from Operations (Gross) |
2275.400 |
1995.600 |
4271.000 |
|
|
|
Less: Excise Duty |
269.000 |
249.500 |
518.500 |
|
|
|
a) Net Sales/Income from Operations (net of excise duty) |
2006.400 |
1746.100 |
3752.500 |
|
|
|
b) Other Operating Income |
113.200 |
92.900 |
206.100 |
|
|
Total Income from Operations (Net) |
2119.600 |
1839.000 |
3958.600 |
|
|
2 |
Expenses |
|
|
|
|
|
|
a) |
Cost of Materials consumed |
912.300 |
608.100 |
1520.400 |
|
|
b) |
Purchase of stock in-trade |
-- |
-- |
-- |
|
|
c) |
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(18.000) |
(8.500) |
(26.500) |
|
|
d) |
Employee benefit expenses |
79.800 |
80.000 |
159.800 |
|
|
e) |
Depreciation and amortization expense |
90.200 |
90.200 |
180.400 |
|
|
f) |
Power and
Fuel |
668.000 |
736.600 |
1404.600 |
|
|
g) |
Other
expenses |
187.100 |
134.900 |
322.000 |
|
|
Total Expenses |
1919.400 |
1641.300 |
3560.700 |
|
|
3 |
|
Profit
/(Loss) from operations before other income, finance costs and exceptional
items (1-2) |
200.200 |
197.700 |
397.900 |
|
4 |
Other
Income |
8.700 |
8.800 |
17.500 |
|
|
5 |
|
Profit
/(Loss) from ordinary activities before finance costs and exceptional items
(3+4) |
208.900 |
206.500 |
415.400 |
|
6 |
Finance
Costs |
88.900 |
80.900 |
169.800 |
|
|
7 |
|
Profit /(Loss)
from ordinary activities after finance costs but before exceptional items
(5-6) |
120.000 |
125.600 |
245.600 |
|
8 |
Exceptional
Items |
19.200 |
21.200 |
40.400 |
|
|
9 |
Profit /(Loss) from ordinary activities
before tax |
100.800 |
104.400 |
205.200 |
|
|
10 |
Tax
Expense |
|
|
|
|
|
|
- Income Tax (MAT) for the year |
22.000 |
21.000 |
43.000 |
|
|
|
- Deferred Tax Liability |
20.400 |
(10.000) |
10.400 |
|
|
11 |
Net Profit /(Loss) from ordinary activities
after tax (9-10) |
58.400 |
93.400 |
151.800 |
|
|
12 |
Extraordinary
items (net of tax expense) |
-- |
-- |
-- |
|
|
13 |
Net Profit /(Loss) for the period (11-12) |
58.400 |
93.400 |
151.800 |
|
|
14 |
Paid up
equity share capital (Eq. shares of
Rs.10/- each) |
787.200 |
787.20 |
787.200 |
|
|
15 |
Reserve
excluding revaluation reserves |
|
|
|
|
|
16 |
|
Earnings
per share (before/after extraordinary items) of Rs.10/- each |
|
|
|
|
|
|
Basic |
0.74 |
1.19 |
1.93 |
|
|
|
Diluted |
0.74 |
1.19 |
1.93 |
|
|
|||||
|
A |
|
PARTICULARS
OF SHAREHOLDING |
|
|
|
|
1 |
|
Public Shareholding |
|
|
|
|
|
|
- No. of
Shares |
1054078 |
1054078 |
1054078 |
|
|
|
-
Percentage of Shareholding |
2.68 |
2.68 |
2.68 |
|
2 |
|
Promoters and promoter group shareholding |
|
|
|
|
|
|
a) Pledged/Encumbered |
|
|
|
|
|
|
- Number
of shares |
-- |
-- |
-- |
|
|
|
-
Percentage of shares ( as a % of the total shareholding of the promoter and
promoter group) |
-- |
-- |
-- |
|
|
|
- Percentage
of shares (as a % of the total share capital of the Company) |
-- |
-- |
-- |
|
|
|
b) Non-
encumbered |
|
|
|
|
|
|
- Number
of shares |
38234140 |
38234140 |
38234140 |
|
|
|
- Percentage
of shares ( as a % of the total shareholding of the promoter and promoter
group) |
100.00 |
100.00 |
100.00 |
|
|
|
-
Percentage of shares (as a % of the total share capital of the Company) |
48.57 |
48.57 |
48.57 |
|
|
Particulars |
Quarter
ended 30.09.2014 |
|
|
B |
|
Investor
Complaints |
|
|
|
|
Pending at
the beginning of the quarter |
Nil |
|
|
|
Received
during the quarter |
1 |
|
|
|
Disposed
during the quarter |
1 |
|
|
|
Remaining unresolved
at the end of the quarter |
Nil |
STANDALONE
STATEMENT OF ASSETS AND LIABILITIES
|
Particular |
30.09.2014 (Rs.
In Millions) |
|
EQUITY AND
LIABILITIES |
|
|
Shareholders’
funds |
|
|
(a) Share capital |
976.500 |
|
(b) Reserves and surplus |
1924.300 |
|
Sub-total
- Shareholders' funds |
2900.800 |
|
|
|
|
Non-current
liabilities |
|
|
(a) Long-term borrowings |
874.200 |
|
(b) Deferred Tax Liabilities (Net) |
673.500 |
|
(c) Other Long Term Liability |
0.000 |
|
(d) Long Term Provision |
0.000 |
|
Sub-total
- Non-current liabilities |
1547.700 |
|
|
|
|
Current
liabilities |
|
|
(a) Short -term borrowings |
1524.700 |
|
(b) Trade payables |
718.400 |
|
(c) Other Current Liability |
1328.700 |
|
(d) Short-term provision |
55.000 |
|
Sub-total
- Current liabilities |
3626.800 |
|
|
|
|
TOTAL
- EQUITY AND LIABILITIES |
8075.300 |
|
|
|
|
ASSETS |
|
|
Non-current
assets |
|
|
(a) Fixed assets |
5484.800 |
|
(b) Goodwill on Consolidation |
0.000 |
|
(c) Non-current investment |
17.100 |
|
(d) Deferred tax assets (net) |
0.000 |
|
(e) Long-term loans and advances |
393.700 |
|
(f) Other non-current assets |
0.000 |
|
Sub-total
- Non-current assets Current assets |
5895.600 |
|
Current assets |
|
|
(a) Current Investment |
0.000 |
|
(b) Inventories |
575.200 |
|
(c) Trade receivables |
556.800 |
|
(d) Cash and cash equivalents |
254.300 |
|
(e) Short-term loans and advances |
224.100 |
|
(f) Other current assets |
569.300 |
|
Sub-total
- Current assets |
2179.700 |
|
|
|
|
TOTAL
- ASSETS |
8075.300 |
SEGMENTWISE
REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE THIRD QUARTER AND NINE MONTHS'
PERIOD ENDED 30th SEPTEMBER, 2014
|
|
Particulars |
Quarter Ended |
Year
Ended |
|
|
|
|
30.09.2014 |
30.06.2014 |
30.09.2014 |
|
1. |
Segment Revenue (Sales and Other Operating
Income) |
|
|
|
|
a) |
Chemicals |
1526.900 |
1465.300 |
2992.200 |
|
b) |
Oils and Fats |
629.000 |
402.000 |
1031.000 |
|
|
Net Sales / Income and interdivisional transfers |
2155.900 |
1867.300 |
4023.200 |
|
|
Less: Inter-segment transfers |
35.800 |
27.900 |
63.700 |
|
|
Net Sales / Income from operation |
2120.100 |
1839.400 |
3959.500 |
|
|
|
|
|
|
|
2. |
Segment Results: [Profit/ (Loss)
before tax and interest from each segment] |
|
|
|
|
a) |
Chemicals |
198.400 |
196.700 |
395.100 |
|
b) |
Oils and Fats |
2.300 |
1.400 |
3.700 |
|
|
TOTAL |
200.700 |
198.100 |
398.800 |
|
|
Less: a) Interest Expenses |
88.900 |
80.900 |
169.800 |
|
|
b) Interest Income |
8.200 |
8.400 |
16.600 |
|
|
Other
unallocable expenditure, net of unallocable income |
19.200 |
21.200 |
40.400 |
|
|
Total Profit/
Loss –before tax |
100.800 |
104.400 |
205.200 |
|
|
|
|
|
|
|
3. |
Capital Employed: |
|
|
|
|
a) |
Chemicals |
4781.000 |
4691.700 |
4781.000 |
|
b) |
Oils and Fats |
109.100 |
142.500 |
109.100 |
|
c) |
Others |
17.200 |
15.000 |
17.200 |
|
|
TOTAL |
4907.300 |
4849.200 |
4907.300 |
|
|
|
|
|
|
|
4. |
Discontinuing operations of power Plant
(Carry amount of assets minus liability and Loans) |
470.800 |
502.300 |
470.800 |
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] 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.61.88 |
|
|
1 |
Rs.97.02 |
|
Euro |
1 |
Rs.76.13 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ANK / KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
28 |
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.