MIRA
INFORM REPORT
|
Report Date : |
10.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
CHAMBAL FERTILISERS AND CHEMICALS LIMITED |
|
|
|
|
Registered
Office : |
Gadepan, District |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
07.05.1985 |
|
|
|
|
Com. Reg. No.: |
17-003293 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.4162.079 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24124RJ1985PLC003293 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JDHC01428A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC9762A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Ammonia and Urea. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 79000000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a well-established company having fine track record. The ratings continue to reflect Chambal’s established position in the Indian
urea industry, strong operating efficiency and high financial flexibility. Directors are reported to be experienced and respectable businessmen. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The services sector, the largest contributor to India’s GDP, contracted for
the sixth consecutive month in December, as orders dipped. However, hiring has
risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to
retain 100 per cent foreign direct investment in both greenfield (new) and
brown field (existing) pharmaceutical companies, despite concerns over genetic
drugs going out of production, if multi-national companies take over domestic
ones. In M&A deals, a non compete clause would not be allowed, except in
special circumstances. The Department of Industrial Policy and Promotion plans
to release the next edition of its consolidated foreign direct investment
policy document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of
mobile internet users in India by June 2014, according to a report by the
Internet & Mobile Association of India and IMRB International. India
had 110 million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that
accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per
cent is the main reason for this overall IT cut. A Reserve Bank of India
committee has recommended setting up a special category of lenders who would
cater to small businesses and households, to expand the number of customers
with access to banking services. These banks would focus onproviding payment
services and deposit products. Indian banks want the free use of
automated teller machines to be capped at five transactions in a month
including that of the bank in which the account is active. This follows state
government order to banks to install security guards at ATM booths after a
woman banker was assaulted in Bangalore. The government is likely to present a
vote on Account in mid-February. The annual Economic Survey will be tabled
later in Parliament along with the full Budget. A full Budget for 2014/15 is
likely to be present in July by the new government formed after the General
Election. The government will soon launch an internet spy system, called Netra,
to detect malafide messages. Security agency will deploy the system to capture
dubious voice traffic on applications such as Skype and Google Talk, as well as
tweeters.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = AA- |
|
Rating Explanation |
High degree of safety and very low credit risk |
|
Date |
25.10.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
25.10.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office / Factory 1 : |
Gadepan, District Kota-325208, Rajasthan, India |
|
Tel. No.: |
91-744-6462162 / 6462167 / 2782915 / 2934 |
|
Fax No.: |
91-744-6465218 / 7455-274130 |
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E-Mail : |
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|
Website : |
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|
Administrative Office : |
6th Floor, Devika Tower, 6, Nehru Place, New Delhi-110019, India |
|
Tel. No.: |
91-11-26461162 – 63 |
|
Fax No.: |
91-11-26465218/26480639 |
|
E-Mail : |
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|
|
|
|
Corporate Office : |
Corporate One, 1st Floor, 5, Commercial Centre, Jasola, New
Delhi-110025, India |
|
Tel. No.: |
91-11-46581300/41697900 |
|
Fax No.: |
91-11-40638679 |
|
|
|
|
Factory 2 : |
Sai Road, Bhatouli Khurd, P.O. Baddi, Solan-173205, Himachal
Pradesh, India |
|
Tel No: |
91-1795-245285-87 |
|
Email: |
|
|
Web Site: |
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|
|
|
|
Factory 3 : |
Solaris Building No. 1, D-Wing, 4th Floor, Solaris Complex,
Saki Vihar Road, Powai, Andheri (East), Mumbai-400072, Maharashtra, India |
|
Tel No: |
91-22-28573706/5204 |
|
|
|
|
Regional Offices
: |
Located At:
|
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. S.K. Poddar |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Shayam S. Bhartia |
|
Designation : |
Co-Chairman |
|
|
|
|
Name : |
Mr. Anil Kapoor |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. R. N. Bansal |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Dipankar Basu |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. K. N. Memani |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. C.S. Nopany |
|
Designation : |
Director |
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|
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|
Name : |
Mr. Radha Singh |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Marco P. A. Wadia |
|
Designation : |
Director |
KEY EXECUTIVES
|
SENIOR EXECUTIVES |
|
|
Name : |
Mr. Abhay Baijal |
|
Designation : |
Vice President – Finance |
|
|
|
|
Name : |
Mr. A.K. Bhargava |
|
Designation : |
Vice President – Operations |
|
|
|
|
Name : |
Mr. D.L. Birla |
|
Designation : |
Executive President – BTM |
|
|
|
|
Name : |
Mr. V.K. Gupta |
|
Designation : |
Vice President – Marketing |
|
|
|
|
Name : |
Mr. Vinod Mehra |
|
Designation : |
President – Operations |
|
|
|
|
Name : |
Mr. M.S. Rathore |
|
Designation : |
Vice President – Legal and Corporate Communication and Secretary |
|
|
|
|
Name : |
Mr. K. Satishchandra |
|
Designation : |
Executive President – India Steamship |
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 |
|
|
|
|
|
|
|
|
23369032 |
5.61 |
|
|
212893771 |
51.15 |
|
|
236262803 |
56.77 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
236262803 |
56.77 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
6638296 |
1.59 |
|
|
1835527 |
0.44 |
|
|
33372818 |
8.02 |
|
|
22694374 |
5.45 |
|
|
64541015 |
15.51 |
|
|
|
|
|
|
13711914 |
3.29 |
|
|
|
|
|
|
65896871 |
15.83 |
|
|
33571819 |
8.07 |
|
|
2223430 |
0.53 |
|
|
2049680 |
0.49 |
|
|
173750 |
0.04 |
|
|
115404034 |
27.73 |
|
Total Public shareholding (B) |
179945049 |
43.23 |
|
Total (A)+(B) |
416207852 |
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) |
416207852 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Ammonia and Urea. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
Bankers : |
· Bank of Baroda · Punjab National Bank · State Bank of India · Allahabad Bank · State Bank of Indore · State Bank of Patiala · State Bank of Hyderabad · State Bank of Bikaner and Jaipur · Citibank · HDFC Bank · ICICI Bank · ING Vysya Bank ·
State Bank of Mysore ·
Axis Bank |
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. R. Batliboi and Company Chartered Accountants |
|
|
|
|
Branch Auditors : |
|
|
Name : |
Singhi and Company Chartered Accountants |
|
|
|
|
Cost Auditors : |
|
|
Name : |
K.G. Goyal and Associates Chartered Accountants |
|
|
|
|
Subsidiaries : |
·
CFCL Overseas Limited, Cayman Island ·
Chambal Infrastructure Ventures Limited, India ·
India Steamship Pte. Limited, Singapore ·
India Steamship Limited, India Subsidiaries and
Step-down Subsidiaries of CFCL Overseas Limited ·
CFCL Technologies Limited, Cayman Islands ·
CFCL Ventures Limited, Cayman Islands ·
ISGN Corporation, USA Subsidiaries and
step-down subsidiaries of ISGN Corporation, USA NITC GmbH (Germany) (formerly known as NovaSoft Information Technology
Corporation Gmbh,) ISGN Solutions Inc, USA ·
Richmond Investors, LLC, USA ·
Richmond Title Genepar, LLC, USA ·
Richmond Title Services, LP, USA ·
ISGN Fulfillment Services, Inc. (Pennsylvania,
USA) ·
ISGN Fulfillment Services, Inc (AZ, USA) ·
ISGN Fulfillment Agency, LLC (DE, USA) ·
ISGN Fulfillment Agency, of Alabama, LLC (AL,
USA) Subsidiaries and
step-down subsidiaries of CFCL Ventures Limited ·
ISG Novasoft Technologies Limited, India ·
Inuva Info Management Private Limited, India Subsidiaries of
Chambal Infrastructure Ventures Limited ·
Chambal Energy (Chhattisgarh) Limited ·
Chambal Energy (Orissa) Limited Subsidiaries of
India Steamship Pte. Limited, Singapore ·
India Steamship International FZE, UAE |
CAPITAL STRUCTURE
As on 31.03.2013
|
No. of Shares |
Type |
Value |
Amount |
|
440000000 |
Equity Shares |
Rs.10/- each |
Rs. 4400.000 Millions |
|
210000000 |
Preference shares |
Rs. 10/- each |
Rs. 2100.000 Millions |
|
|
Total
|
|
Rs.6500.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
416207852 |
Equity Shares |
Rs.10/- each |
Rs.4162.079
Millions |
|
|
|
|
|
a) Terms / rights
attached to equity shares-
The Company has only one class of shares having a par value of Rs.10 per share fully paid up. Each holder of equity shares is entitled to one vote per share and will rank pari passu with each other in all respect. The Company declares and pays dividend in Indian rupees. The dividend proposed by the Board of Directors is subject to approval of the shareholders in the ensuing annual general meeting.
b) Details of
shareholders holding more than 5% shares in the Company
|
Name |
No. of Shares |
% holding |
|
Zuari Industries Limited |
59,015,360 |
14.18 |
|
The Hindustan Times Limited |
50,061,715 |
12.03 |
|
SIL Investments Limited |
31,813,455 |
4.64 |
|
Life Insurance Corporation of India |
23,810,373 |
6.71 |
As per the of the Company, including its register of shareholders/members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownership 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 |
4162.079 |
4162.079 |
4162.079 |
|
(b) Reserves & Surplus |
15755.903 |
13624.980 |
12071.198 |
|
(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) |
19917.982 |
17787.059 |
16233.277 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
11271.057 |
11846.089 |
12991.678 |
|
(b) Deferred tax liabilities (Net) |
4160.979 |
3860.520 |
2011.914 |
|
(c) Other long term liabilities |
36.633 |
31.739 |
21.664 |
|
(d) long-term provisions |
358.834 |
445.662 |
285.900 |
|
Total Non-current Liabilities (3) |
15827.503 |
16184.010 |
15311.156 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
37514.095 |
21817.893 |
10435.508 |
|
(b) Trade payables |
4835.411 |
2679.846 |
1441.766 |
|
(c) Other current
liabilities |
4604.388 |
2871.508 |
2576.388 |
|
(d) Short-term provisions |
1707.135 |
1864.357 |
2108.995 |
|
Total Current Liabilities (4) |
48661.029 |
29233.604 |
16562.657 |
|
|
|
|
|
|
TOTAL |
84406.514 |
63204.673 |
48107.090 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
25980.043 |
26343.949 |
26758.006 |
|
(ii) Intangible Assets |
11.912 |
13.812 |
25.155 |
|
(iii) Capital
work-in-progress |
442.257 |
543.318 |
594.664 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
5444.042 |
4922.519 |
4005.601 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
342.109 |
643.363 |
263.004 |
|
(e) Other Non-current assets |
146.156 |
109.480 |
705.385 |
|
Total Non-Current Assets |
32366.519 |
32576.441 |
32351.815 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
12267.799 |
5177.886 |
3318.998 |
|
(c) Trade receivables |
34336.271 |
20216.530 |
5851.477 |
|
(d) Cash and cash
equivalents |
2247.147 |
2734.976 |
2618.183 |
|
(e) Short-term loans and
advances |
2490.157 |
1971.782 |
2056.244 |
|
(f) Other current assets |
698.621 |
527.058 |
1910.373 |
|
Total Current Assets |
52039.995 |
30628.232 |
15755.275 |
|
|
|
|
|
|
TOTAL |
84406.514 |
63204.673 |
48107.090 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
73408.196 |
64616.499 |
46541.055 |
|
|
|
Other Income |
782.879 |
1552.020 |
887.484 |
|
|
|
TOTAL (A) |
74191.075 |
66168.519 |
47428.539 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
18826.385 |
14614.400 |
11846.284 |
|
|
|
Purchase of traded goods |
31469.146 |
25236.643 |
14547.721 |
|
|
|
(Increase) in inventories of finished goods, work-in-progress and traded goods |
(6660.481) |
(1295.223) |
(1136.254) |
|
|
|
Employee benefits expense |
1405.847 |
1323.913 |
1132.076 |
|
|
|
Other expenses |
420.876 |
543.342 |
12498.622 |
|
|
|
Freight to charter-in ship |
20762.803 |
16351.203 |
396.100 |
|
|
|
Exceptional item |
(119.573) |
0.000 |
(43.687) |
|
|
|
TOTAL (B) |
66105.003 |
56774.278 |
39240.862 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
8086.072 |
9394.241 |
8187.677 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1298.333 |
1177.108 |
1100.219 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6787.739 |
8217.133 |
7087.458 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2220.434 |
2620.799 |
2679.482 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4567.305 |
5596.334 |
4407.976 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1511.180 |
3123.465 |
1156.191 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
3056.125 |
2472.869 |
3251.785 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
10659.190 |
9605.408 |
7596.455 |
|
|
|
|
|
|
|
|
|
|
TRANSFERRED FROM
DEBENTURE REDEMPTION RESERVE |
0.000 |
0.000 |
31.250 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
500.000 |
500.000 |
350.000 |
|
|
|
Transfer to Tonnage Tax Reserve |
0.000 |
0.000 |
5.000 |
|
|
|
Proposed Dividend on Equity Shares |
790.805 |
790.799 |
790.795 |
|
|
|
Tax on Dividend |
134.397 |
128.288 |
128.287 |
|
|
BALANCE CARRIED
TO THE B/S |
12290.113 |
10659.190 |
9605.408 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of exports |
670.929 |
844.985 |
1194.166 |
|
|
|
Dispatch money (On cash basis) |
3.377 |
8.131 |
7.691 |
|
|
|
Dividend income |
-- |
1003.323 |
109.421 |
|
|
|
Interest (On cash basis) |
0.081 |
1.840 |
12.190 |
|
|
|
Rebate on purchases related to earlier years |
45.032 |
40.025 |
46.557 |
|
|
|
Late delivery charges recovery |
-- |
15.590 |
0.000 |
|
|
|
Reimbursement of salary related expenses |
6.530 |
4.472 |
3.858 |
|
|
|
Freight & Charter hire from ships |
1723.241 |
1725.904 |
1910.244 |
|
|
|
Management fees |
-- |
0.368 |
0.779 |
|
|
|
Others |
63.709 |
3.141 |
1.771 |
|
|
TOTAL EARNINGS |
2516.205 |
3647.779 |
3286.677 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
361.588 |
11.872 |
9.255 |
|
|
|
Traded Products |
24882.589 |
20309.516 |
11248.206 |
|
|
|
Stores & Spares |
106.717 |
43.708 |
81.520 |
|
|
|
Capital Goods |
10.418 |
200.850 |
319.137 |
|
|
TOTAL IMPORTS |
25361.312 |
20565.946 |
11658.118 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.34 |
5.94 |
7.81 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2013 |
30.09.2013 |
31.12.2013 |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
1,6896.300 |
2,4902.800 |
2,3598.900 |
|
Total Expenditure |
1,5572.400 |
2,2957.200 |
2,1266.700 |
|
PBIDT (Excl OI) |
1323.800 |
1945.600 |
2332.200 |
|
Other Income |
471.200 |
408.500 |
209.300 |
|
Operating Profit |
1795.000 |
2354.100 |
2541.500 |
|
Interest |
493.600 |
435.200 |
593.500 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
1301.400 |
1918.900 |
1948.100 |
|
Depreciation |
569.300 |
601.800 |
582.600 |
|
Profit Before Tax |
732.100 |
1317.100 |
1365.500 |
|
Tax |
(397.800) |
375.300 |
462.600 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
1129.900 |
941.700 |
902.800 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
1129.900 |
941.700 |
902.800 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.12
|
3.74 |
6.86 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.22
|
8.66 |
9.29 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.82
|
9.69 |
10.13 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.31 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.45
|
1.89 |
1.44 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.07
|
1.05 |
0.95 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
SHORT-TERM
BORROWINGS |
|
|
|
Commercial Papers |
3000.000 |
0.000 |
|
From Banks: |
|
|
|
- Rupee loans |
6550.000 |
450.000 |
|
- Foreign currency loans |
21257.486 |
20279.725 |
|
- Packing credit foreign currency loan |
102.814 |
83.537 |
|
Total |
30910.300 |
20813.262 |
|
|
|
|
CORPORATE INFORMATION
The Company is the largest manufacturer of Urea in private sector in India and is also into the trading of fertilisers and other agri inputs. The Company is also into manufacturing of Synthetic and Cotton Yarn. Shipping Division of the Company is engaged in the business of running of ships for cargo.
OPERATIONS:
The Company has three business segments viz. Fertilizer, Shipping and Textile with Fertilizer being the largest amongst them. The Fertilizer Division comprises of manufacturing of Urea and Single Super Phosphate (SSP) and trading of fertilizers and other agriinputs. This division has registered a robust overall growth during the year . The Shipping business continues to be under stress and signs of recovery are not yet visible. The Textile business has improved its performance from second quarter of the Financial Year 2012-13 and achieved encouraging results.
The Company has put renewed focus on trading activity during last few years to fully leverage its goodwill and brand image in the market. This strategy has borne fruits with an excellent performance on revenue and profitability fronts from the trading activity in Fertilizer business. The SSP unit at Gadepan commenced production in second half of the year.
The worldwide Shipping business continues to remain sluggish with freight rates on the softer side due to continuing global recession and oversupply of tonnage. The time charter activity has also remained sluggish due to downturn in the market. This has adversely impacted the performance of the Shipping business in general. The Company sold one of its ageing vessels during the year and presently operates 5 (five) Aframax vessels, mostly for international trade.
The performance of Textile business at the beginning of the Financial Year 2012-13 was under pressure. However, it has picked up momentum from second quarter onwards and achieved excellent results during the year . The performance was supported mainly by good demand and better realizations from cotton yarn.
MANAGEMENT DISCUSSION
AND ANALYSIS REPORT
FERTILISER DIVISION
I. Industry Structure
and Developments
(a) Raw Material
Natural Gas is the main input for production of Urea which is procured through two sources- a) domestically produced Natural Gas and b) Re-gasified Liquified Natural Gas (RLNG). The Liquified Natural Gas (LNG) is imported and re-gasified in India. LNG imports are made in India through long term and spot contracts. The Gas prices in last few years has been on rising trend due to increase in crude oil prices and increased demand of LNG in Japan after Fukushima nuclear disaster.
Both the fertilizer plants of the Company are operating with Natural Gas in the form of feed and fuel. The Company sources Natural Gas from multiple sources and has long term Gas Supply Agreements with the suppliers. The Company resorts to spot purchase of gas in event of shortfall in gas supply to maintain production schedule. The RLNG cost has increased due to increase in its prices as well as sharp decline of the Rupee against the US Dollar.
(b) Demand-Supply
Scenario
The Urea demand- supply gap in the country has been gradually increasing in the absence of new investment in this sector. India imported around 8 million MT of Urea during the year 2012-13, which was about 27% of the total urea consumption in the country. Urea import prices were volatile during the year and varied between USD 394 and USD 536 per MT. In order to reduce the dependence on imports, the Government of India has recently announced a New Investment Policy 2012 for attracting fresh investments in Urea sector.
(c) Developments in
Government Policies
New Pricing Scheme (NPS) Stage III which was valid upto March 31, 2010, has been further extended provisionally.
The announcement of New Investment Policy 2012 (NIP) for Urea is being perceived positively by Urea Industry and there is a lot of enthusiasm for fresh investment in Urea sector. Many existing players have chalked out plans to expand their Urea production capacity through brownfield expansion plans. The setting up of new plants will largely reduce the demand - supply gap in Urea. NIP provides a structure of an Import Parity Price (IPP) linked 'floor and ceiling price' based on the delivered gas price, for the calculation of amount of subsidy payable to urea units. The NIP will only cover those units whose production starts within five years from the notification of the policy. Further, the dispensation of guaranteed buy-back under the policy will be available to the units for a period of eight years from the start of production. The new policy has created conducive environment for new investment in Urea sector as the policy provides a cover for increase in gas prices.
The Government of India proposes to give fertilizer subsidy directly to the farmers as against routing it through fertilizer producers. The task force constituted under the chairmanship of Mr. Nandan Nilekani to implement the direct subsidy to farmers has suggested a three phase roadmap for this purpose. Under Phase - I, the data regarding supply of fertilizers upto to the retailer point has to be captured in the system. Phase – II envisages payment of fertilizer subsidy to the retailers and the subsidy is proposed to be paid directly to the farmers under Phase - III. The Government of India has already rolled out Phase - I during the year and the subsidy payment has been linked to acknowledgement of receipt of material by retailer. The roll out of Phase - II is yet to be announced.
Outlook
It is quite unlikely that Urea will face any challenge in terms of sales volumes in near future in view of demand-supply gap. The positive monsoon predictions are likely to support the growth plans of the Company in traded products and SSP.
INDIA
STEAMSHIP-SHIPPING DIVISION
Industry Structure
and Developments
The Shipping industry is cyclical in nature and highly dependent on the developments in global trade; therefore, any adversity in the global economic environment affects the prospects of global shipping industry. The dry bulk, containers and tankers are major segments of the Shipping Industry. World economy is passing through a difficult phase and growth plans of the major economies are under tremendous pressure. While the concerns of the US economy have not yet disappeared, the Euro Zone challenges continue to give shivers to the trade across the globe. A tender recovery in the global economy has been visible lately, but many issues, mostly fiscal, could impact growth in either direction over the coming months.
The tanker freight and asset rates have touched historical lows and are hovering around the same level. The high uncertainty and absence of a definitive trend are not allowing the players in the Industry to take long term decisions. They are following a 'wait and watch' policy.
Outlook
The crude tanker demand is projected to increase by 2.6% year-on-year in 2013 as against fleet expansion of 3.3%. Oil demand growth in the economies of non-OECD Asia, particularly China, is likely to underscore demand growth in the VLCC (Very Large Crude Carrier) sector, which is projected to increase by 4.9% year-on-year in the year 2013. The charterers are choosing to fix larger Suezmaxes at the expense of Aframaxes, which is likely to enable Suezmax owners to increase their market share. These factors, coupled with significant exposure to fragile European oil demand, are projected to lead to Aframax demand declining by 4.4% yearover-year.
BIRLA TEXTILE MILLS -
SPINNING DIVISION
Industry Structure
and Developments
The Indian Textile Industry plays a vital role through its contribution to industrial output, employment generation and the export earnings of the country apart from providing one of the basic necessities of life. The sector contributes about 14% to industrial production, 4% to the Gross Domestic Product (GDP) and 17% to the country's export earnings. It provides direct employment to over 35 million people, being the second largest provider of employment after agriculture. Thus, the growth and all round development of this industry has a direct bearing on the improvement of the economy of the nation.
Outlook
Cotton yarn's outlook is stable with the pick-up in demand from China and stable cotton prices. Synthetic yarn has a negative outlook as lower demand and rising cost of inputs are squeezing their margins. Production of man-made filament yarn decreased by 0.2% year-on-year and production of blended and 100% non-cotton yarn grew at 0.1% year-on-year.
The outlook of Fabric is negative to stable as fabric manufacturers' margins are on slower revival due to increased input cost such as labour, power and fuel costs thus off setting input price decrease.
CONTINGENT
LIABILITIES (NOT PROVIDED FOR) IN RESPECT OF :
Rs. In Millions
|
Sl. No. |
Particulars |
31.03.2013 |
31.03.2012 |
|
i) |
Outstanding amount against corporate guarantee given to Bank on account of loans given by such Bank to stepdown subsidiary Company |
1194.380 |
1119.360 |
|
ii) |
Bills discounted with bank and remaining outstanding as on date |
15.306 |
52.965 |
|
iii) |
Demand raised by Customs, Sales Tax and Income Tax (IT) authorities being disputed by the Company. |
58.274 |
59.598 |
|
iv) |
Penalty levied by FERA Board under appeal before the Calcutta High Court. |
0.130 |
0.130 |
|
v) |
Claim against Nihat Shipping Company Limited in legal suits / notices, in which the Company has been made a party, is being contested, since the Company acted as Agents / Technical and Operational Managers. |
22.204 |
22.204 |
|
vi) |
Various labour cases |
Amount not Ascertainable |
Amount not Ascertainable |
|
vii) |
Other claims against the Company not acknowledged as debts. |
34.375 |
32.242 |
* Brief description
of liabilities as per (iii) above :
Rs. In Millions
|
Sl. No. |
Particulars |
31.03.2013 |
31.03.2012 |
|
1. |
Income Tax : |
|
|
|
|
Demand raised by IT authorities on account of various disallowances for AY 2003-04 including penalties. |
0.128 |
0.128 |
|
|
Demand raised by IT authorities on account of various disallowances for AY 2004-05 including penalties. |
0.587 |
0.587 |
|
|
Demand raised by IT authorities on account of various disallowances for AY 2008-09 including penalties. |
-- |
0.955 |
|
|
Demand raised by IT authorities on account of various disallowances for AY 2009-10. |
9.000 |
44.699 |
|
|
Demand raised by IT authorities on account of various disallowances for AY 2010-11. |
32.396 |
-- |
|
|
Demand raised by IT authorities on account of short deduction of TDS and interest thereon for AY 2008-09 to 2011-12 |
7.494 |
3.830 |
|
2. |
Sales Tax : |
|
|
|
|
Disallowance of VAT credit on raw materials used in the manufacturing of finished goods and lying in stock on April 1, 2006. |
2.218 |
2.218 |
|
|
Demand raised by The Asstt. Commissioner of Commercial Taxes, Patliputra Circle, Patna for FY 2006-07 and 2007-08 and pending matter before the Commercial Taxes Tribunal, Bihar, Patna |
0.809 |
0.809 |
|
|
Miscellaneous Rajasthan Sales Tax and Central Sales Tax demand. |
3.847 |
3.847 |
|
3. |
Service Tax /
Excise Duty : |
|
|
|
|
Service Tax demand received on services from foreign parties in respect of service tax not paid on Tax deducted at source (TDS) portion. |
0.457 |
0.457 |
|
|
Show cause notice dated 16.03.2011 related to non payment of service tax on ‘Renting Income’ received during FY 2009-10. |
-- |
0.199 |
|
|
Show cause notice dated 19.01.12 related to non payment of excise duty of Rs. 1.200 Millions on sale of scrap during FY 2009-10 |
-- |
1.200 |
|
4. |
Land Tax |
|
|
|
|
Demand raised by Sub-registrar (Digod) towards levy of land tax on land at Gadepan, Kota for F.Y 2011-12 |
1.338 |
0.669 |
|
|
Total |
58.274 |
59.598 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10467509 |
11/11/2013 |
3,547,059,465.00 |
STATE BANK OF INDIA |
12TH FLOOR, JAWAHAR VYAPAR BHAWAN,, 1, TOLSTOY MARG, NEW DELHI, DELHI - 110001, INDIA |
B92496553 |
|
2 |
10407079 |
04/02/2013 |
1,100,000,000.00 |
STATE BANK OF INDIA |
15, KING STREET,, LONDON EC2V 8EA, LONDON, - EC2 |
B69206605 |
|
3 |
10228887 |
02/12/2011 * |
700,000,000.00 |
THE BANK OF NOVA SCOTIA |
DR. GOPAL DAS BHAVAN, 28, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
B28523348 |
|
4 |
10210685 |
18/03/2011 * |
30,000,000.00 |
STATE BANK OF MYSORE |
3, 4 AND 5, DDA BUILDING, NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA |
B09450487 |
|
5 |
10166433 |
28/08/2009 * |
1,213,000,000.00 |
HSBC BANK PLC. |
8, CANADA SQUARE, LONDON, - E145HQ, UNITED KINGDOM |
A69924314 |
|
6 |
10140677 |
02/12/2011 * |
860,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWER, WTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B28527950 |
|
7 |
10100441 |
30/11/2012 * |
6,314,000,000.00 |
ING BANK N.V |
15TH FLOOR, HUNGKUK LIFE INSURANCE BUILDING, 226, |
B64716301 |
|
8 |
10046888 |
20/03/2010 * |
2,635,110,000.00 |
THE BANK OF NOVA SCOTIA ASIA LIMITED |
1 RAFFLES QUAY, #20-01 NORTH TOWER, SINGAPORE, - |
A81177917 |
|
9 |
10042724 |
21/02/2008 * |
565,760,000.00 |
SYNDICATE BANK |
59, FIRST FLOOR, SHAKUNTALA APPARTMENTS, NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA |
A33491994 |
|
10 |
10018565 |
04/10/2007 * |
2,547,050,000.00 |
EXPORT - IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, FLOOR 21,, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A25449448 |
|
11 |
10012357 |
04/10/2007 * |
470,000,000.00 |
STATE BANK OF MYSORE |
3,4 AND 5, DDA BUILDING, NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA |
A25271495 |
|
12 |
10002898 |
11/01/2008 * |
2,684,500,000.00 |
THE BANK OF NOVA SCOTIA ASIA LIMITED |
1 RAFFLES QUAY, #20-01 NORTH TOWER, SINGAPORE, - |
A30214860 |
|
13 |
80025176 |
13/03/2007 * |
500,000,000.00 |
ALLAHABAD BANK |
INDUSTRIAL FINANCE BRANCH, 1ST FLOOR,, 17, PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA |
- |
|
14 |
80035520 |
02/12/2011 * |
950,000,000.00 |
STATE BANK OF MYSORE |
NO. 3, 4 AND 5, D.D.A. BUILDING, NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA |
B28533222 |
|
15 |
80035521 |
02/12/2011 * |
730,000,000.00 |
ING VYSYA BANK LIMITED |
9TH FLOOR, MERCANTILE HOUSE, 15, K.G. MARG, NEW DELHI, DELHI - 110001, INDIA |
B28531127 |
|
16 |
80035522 |
02/12/2011 * |
1,000,000,000.00 |
HDFC BANK LIMITED |
M 39 CONNAUGHT PLACE, 2ND FLOOR-OUTER CIRCLE, NEW |
B28526028 |
|
17 |
80035524 |
02/12/2011 * |
1,260,000,000.00 |
AXIS BANK LIMITED |
2ND FLOOR, 148, BARAKHAMBA ROAD, STATESMAN HOUSE, NEW DELHI, DELHI - 110001, INDIA |
B28522613 |
|
18 |
80035519 |
04/02/2013 * |
750,000,000.00 |
STATE BANK OF PATIALA |
2ND FLOOR, CHANDRALOK BUILDING, 36, JANPATH, NEW |
B69207967 |
|
19 |
80035721 |
02/12/2011 * |
1,000,000,000.00 |
STATE BANK OF HYDERABAD |
16, KUNDAN HOUSE, NEHRU PLACE, NEW DELHI, DELHI - |
B28532851 |
|
20 |
80035248 |
04/02/2013 * |
1,500,000,000.00 |
STATE BANK OF INDIA |
CAG BRANCH, JAWAHAR VYAPAR BHAVAN, 11TH AND 12TH
FLOOR,1, TOLSTOY MARG, NEW DELHI, DELHI - 110001, |
B69204956 |
|
21 |
80025177 |
04/02/2013 * |
2,500,000,000.00 |
BANK OF BARODA |
CORPORATE FINANCIAL SERVICES BRANCH, GROUND FLOOR, BANK OF BARODA BUILDING, 16, SANSAD MARG, NEW DELHI, DELHI - 110001, INDIA |
B69203685 |
* Date of charge modification
STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR
THE PERIOD ENDED DECEMBER 31, 2013
Rs. In Millions
|
Sr. |
Particulars |
Quarter Ended |
Period Ended |
|
|
No. |
|
31.12.2013 (Unaudited) |
30.09.2013 (Unaudited) |
31.12.2013 (Unaudited) |
|
1. |
Income from
Operations |
|
|
|
|
|
(a) Net Sales/
Income from Operations |
23592.515 |
24887.669 |
65352.345 |
|
|
(b) Other Operating Income |
6.338 |
15.108 |
45.536 |
|
|
Total income from
Operations (Net) |
23598.853 |
24902.777 |
65397.881 |
|
2. |
Expenses |
|
|
|
|
|
(a) Cost of Materials Consumed |
6400.239 |
6267.945 |
17288.237 |
|
|
(b) Power and Fuel |
3717.709 |
3793.584 |
10156.806 |
|
|
(c) Purchase of Stock-in-Trade |
5645.834 |
9003.247 |
18337.108 |
|
|
(d) Changes in
Inventories of Finished Goods, |
1972.953 |
214.179 |
3552.531 |
|
|
(e) Employee Benefits Expense |
364.850 |
369.062 |
1092.748 |
|
|
(f) Depreciation and Amortisation Expense |
582.630 |
601.803 |
1753.724 |
|
|
(g) Other Expenses |
3165.069 |
3323.101 |
9410.147 |
|
|
Total Expenses |
21849.284 |
23572.921 |
61591.301 |
|
3. |
Profit from
Operations before Other Income, Finance Costs and Exceptional Items (1-2) |
1749.569 |
1329.856 |
3806.580 |
|
4. |
Other Income |
209.340 |
422.407 |
1130.291 |
|
5. |
Profit from
Ordinary Activities before Finance Costs and Exceptional Items (3 + 4) |
1958.909 |
1752.263 |
4936.871 |
|
6. |
Finance Costs |
593.445 |
435.181 |
1522.255 |
|
7. |
Profit from Ordinary
Activities after Finance Costs but before Exceptional Items (5 - 6) |
1365.464 |
1317.082 |
3414.616 |
|
8. |
Exceptional Items (Refer note no. 4) |
-- |
-- |
-- |
|
9. |
Profit from
Ordinary Activities before Tax (7+ 8) |
1365.464 |
1317.082 |
3414.616 |
|
10. |
Tax Expense |
|
|
|
|
|
- Current Tax |
453.234 |
412.575 |
1086.445 |
|
|
- Tax related to Earlier Years (Net) |
0.987 |
-- |
(599.521) |
|
|
- Deferred Tax Charge/ (Credit) |
8.419 |
(37.232) |
(46.720) |
|
11 |
Net Profit from
Ordinary Activities after Tax (9-10) |
902.824 |
941.739 |
2974.412 |
|
12. |
Paid-up Equity Share Capital (Face Value of Rs 10/- per share) |
4162.079 |
4162.079 |
4162.079 |
|
13. |
Reserves excluding Revaluation Reserve as per Balance Sheet of Previous Accounting Year |
|
|
|
|
14. |
Earnings Per Share (of Rs 10/- each) |
|
|
|
|
|
Basic (Rs.) |
2.17 |
2.26 |
7.15 |
|
|
Diluted (Rs.) |
2.17 |
2.26 |
7.15 |
|
|
|
|
|
|
|
A. |
PARTICULARS OF
SHAREHOLDING |
|
|
|
|
1 |
Public Shareholding |
|
|
|
|
|
- Number of Shares |
179945049 |
179945049 |
179945049 |
|
|
- Percentage of shareholding |
43.23% |
43.21% |
43.23% |
|
2. |
Promoters and
Promoter Group Shareholding |
|
|
|
|
a) |
Pledged/ Encumbered |
|
|
|
|
|
- Number of Shares |
28225000 |
28225000 |
28225000 |
|
|
- Percentage of Shares (as a % of the total Shareholding of Promoter and Promoter Group) |
11.95% |
9.84% |
11.95% |
|
|
- Percentage of Shares (as a % of the total Share Capital of the Company) |
6.78% |
5.59% |
6.78% |
|
b) |
Non-Encumbered |
|
|
|
|
|
- Number of Shares |
208037803 |
213120303 |
208037803 |
|
|
- Percentage of Shares (as a % of the total Shareholding of Promoter and Promoter Group) |
88.05% |
90.16% |
88.05% |
|
|
- Percentage of Shares (as a % of the total Share Capital of the Company) |
49.99% |
51.20% |
49.99% |
|
|
|
|
|
|
|
B |
INVESTOR COMPLAINTS FOR THE QUARTER ENDED 31.12.2013 |
|
||
|
|
Pending at the beginning of the quarter |
NIL |
|
|
|
|
Received during the quarter |
126 |
|
|
|
|
Disposed off during the quarter |
126 |
|
|
|
|
Remaining unresolved at the end of the quarter |
NIL |
|
|
SEGMENT WISE REVENUE,
RESULTS AND CAPITAL EMPLOYED
Rs. In Millions
|
Sr. |
Particulars |
Quarter Ended |
Period Ended |
|
|
No. |
|
31.12.2013 (Unaudited) |
30.09.2013 (Unaudited) |
31.12.2013 (Unaudited) |
|
1. |
Segment Revenue |
|
|
|
|
|
a) Own Manufactured Fertiliser |
11837.114 |
12478.490 |
35541.719 |
|
|
b) Traded Goods |
9357.547 |
9639.280 |
22553.724 |
|
|
c) Shipping |
1467.450 |
1661.533 |
4236.477 |
|
|
d) Textile |
936.742 |
1123.474 |
3065.961 |
|
|
e) Unallocated |
-- |
-- |
-- |
|
|
Total(a to e) |
23598.853 |
24902.777 |
65397.881 |
|
|
Less: Inter segment revenue |
-- |
-- |
-- |
|
|
Net Sales / Income
from Operations |
23598.853 |
24902.777 |
65397.881 |
|
|
|
|
|
|
|
2. |
Segment Results |
|
|
|
|
|
Profit / (Loss) before Interest, unallocable expenses (net) and Tax from each Segment |
|
|
|
|
|
a) Own Manufactured Fertiliser |
1187.443 |
1319.522 |
3813.448 |
|
|
b) Traded Goods |
881.901 |
249.348 |
1351.434 |
|
|
c) Shipping |
119.122 |
50.557 |
(83.759) |
|
|
d) Textile |
53.864 |
118.125 |
209.905 |
|
|
Total (a to d) |
2242.330 |
1737.552 |
5291.028 |
|
|
Less : (i) Interest |
575.660 |
423.123 |
1476.741 |
|
|
(ii) Other Unallocable Expenditure Net off Unallocable Income |
301.206 |
(2.653) |
399.671 |
|
|
Total Profit before
tax |
1365.464 |
1317.082 |
3414.616 |
|
|
|
|
|
|
|
|
Capital Employed (Segment
Assets-Segment Liabilities) |
|
|
|
|
|
a) Own Manufactured Fertiliser |
34241.759 |
26496.525 |
34241.759 |
|
|
b) Traded Goods |
15159.637 |
19557.601 |
15159.637 |
|
|
c) Shipping |
15645.147 |
16137.013 |
15645.147 |
|
|
d) Textile |
1739.203 |
1670.917 |
1739.203 |
|
|
e) Unallocated Capital Employed |
(43893.352) |
(41872.486) |
(43893.352) |
|
|
Total (a to e) |
22892.394 |
21989.570 |
22892.394 |
Notes:
1. The results for the period ended December 31, 2013 have been prepared on the basis of notified concession prices for urea under the New Pricing Scheme (NPS) – Stage III, further adjusted for input price escalation / de-escalation as estimated on the basis of prescribed norms.
2. During the period ended December 31, 2013, the subsidy on Phosphatic and Potassic fertilizers has been accounted for as per concession price notified by the Government of India with effect from April 1, 2013.
3. Previous period figures have been regrouped and/ or re-arranged wherever necessary to make their classification comparable with the current period.
4. The auditors have conducted limited review of the financial results for the period ended December 31, 2013. The results were reviewed by the Audit Committee. The Board has taken on record the financial results at its meeting held on February 03, 2014.
FIXED ASSETS
- Land – Freehold
- Land – Leasehold
- Building
- Leasehold Improvements
- Railway Siding
- Plant and Machinery
- Equipment
- Furniture and Fitting
- Vehicle
- Vehicle (On Finance Lease)
- Ships
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.62.32 |
|
|
1 |
Rs.101.78 |
|
Euro |
1 |
Rs.84.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
60 |
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.