MIRA
INFORM REPORT
|
Report Date : |
09.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
ANJANI PORTLAND CEMENT LIMITED |
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Formerly Known
As : |
SHEZ CEMENTS LIMITED |
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Registered
Office : |
Sithanilayam, 153 D Warakapuri Colony, Punjagutta, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
17.12.1983 |
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Com. Reg. No.: |
01 – 004323 |
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Capital
Investment / Paid-up Capital : |
Rs. 183.896 Millions |
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|
CIN No.: [Company Identification
No.] |
L26942TG1983PLC004323 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
HYDA01742G |
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PAN No.: [Permanent Account No.] |
AACCA8115F |
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Legal Form : |
A Public Limited Liability company. The company’s Share are Listed on
the Stock Exchange. |
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Line of Business
: |
Manufacturer of Cement |
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No. of Employees
: |
400 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 3220000 |
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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 an established company having moderate track record. There seems some dip in the turnover and sharp dip in the profitability
of the company during 2013; borrowings of the company are also huge. However, trade relations are reported as fair. Business is active.
Payments terms are reported to be slow but correct. The company can be considered for business dealings with some caution. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a quarter
of a century. The data was below an official estimate of 4.9 % annual growth
and compared with 4.5 % in the last fiscal year. However, the current account
deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic product,
in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before.A
sharp fall in gold imports due to restrictions on overseas purchases and muted
import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from
Russian Investment firm DST Global which has also invested in companies like
Facebook, Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers with hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US
governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
LONG TERM BANK FACILITIES (BB) |
|
Rating Explanation |
Moderate risk of default |
|
Date |
18.03.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
SHORT TERM BANK FACILITIES (A4) |
|
Rating Explanation |
Minimal credit risk. It carry very high credit risk |
|
Date |
18.03.2014 |
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
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Ram Prasad |
|
Designation : |
Finance Management |
|
Date : |
01.07.2014 |
LOCATIONS
|
Registered Office : |
Sithanilayam, 153 Dwarakapuri Colony, Punjagutta, |
|
Tel. No.: |
91-40-23351696/97 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office : |
Anjani Cement Centre, Plot No.7 and 8,
D.No. 8-2-248/1/7, |
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Tel No.: |
91-40-23353038 / 23353096 / 3106 |
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Fax No.: |
91-40-23353093 |
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Email: |
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Factory : |
Chintalapalem
(Village), Mellacheruvu (Mandalam), Nalgonda (District) – 508 246, |
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Tel No.: |
91-8683-230160 /
230158 / 230168 / 217560 / 217230 |
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Fax No.: |
91-8683-230024 |
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Email: |
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Branches : |
Located at: ·
Visakhapatnam ·
Kakinada ·
Vijayawada ·
Chennai ·
Bhimavaram ·
Bangalore |
DIRECTORS
As on: 31.03.2013
|
Name : |
Mr. K.V. Vishnu Raju |
|
Designation : |
Chairman and Managing Director |
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|
Name : |
Mr. P.V.R.L. Narasimha Raju |
|
Designation : |
Executive Director |
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|
Name : |
Mr. R.A. Rama Raju |
|
Designation : |
Director |
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|
Name : |
Mr. P.S. Ranganath |
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Designation : |
Director |
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|
Name : |
Mr. P.V. Subba Rao |
|
Designation : |
Director |
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|
Name : |
Mr. P. R. Raju |
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Designation : |
Director |
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KEY EXECUTIVES
|
Name : |
Mr. S.V.S. Shetty |
|
Designation : |
Chief Executive Officer |
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|
Name : |
Mr. R.V.A. Narasimha Rao |
|
Designation : |
Chief Financial Officer |
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|
Name : |
Mr. S.N. Raju |
|
Designation : |
Sr. Vice President (Operations) |
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Name : |
Mr. N. Venkata Raju |
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Designation : |
Assistant Vice President (Works) |
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Name : |
Mr. Ch. Gandhi Raju |
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Designation : |
Vice President (Marketing) |
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Name : |
Mr. P. Sitharama Raju |
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Designation : |
Senior General Manager (Works) |
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Name : |
Mr. P.Satyanarayana Raju |
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Designation : |
Group General Manager (HR and MS) |
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Name : |
Mr. P. Ganapathi Raju |
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Designation : |
Senior General Manager (Quality Control) |
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|
Name : |
Mr. M. Nagabhushana Rao |
|
Designation : |
Senior General Manager (Mechanical) |
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Name : |
Mr. Y. Eswara Reddy |
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Designation : |
General Manager (Marketing) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 21.08.2013
|
Category of
Shareholder |
Total No. of Shares |
Total Shareholding
as a % of Total No. of Shares |
|
(A) Shareholding of
Promoter and Promoter Group |
|
|
|
|
|
|
|
|
10989130 |
59.76 |
|
|
365000 |
1.98 |
|
|
11354130 |
61.74 |
|
|
|
|
|
Total shareholding
of Promoter and Promoter Group (A) |
11354130 |
61.74 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
34400 |
0.19 |
|
|
7800 |
0.04 |
|
|
42200 |
0.23 |
|
|
|
|
|
|
1940772 |
10.55 |
|
|
|
|
|
|
2651298 |
14.42 |
|
|
2108035 |
11.46 |
|
|
293162 |
1.59 |
|
|
16284 |
0.09 |
|
|
26878 |
0.15 |
|
|
250000 |
1.36 |
|
|
6993267 |
38.03 |
|
Total Public
shareholding (B) |
7035467 |
38.26 |
|
Total (A)+(B) |
18389597 |
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) |
18389597 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Cement |
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Products : |
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PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
31.03.2011 |
|
Licensed |
1160000 TPA |
|
Installed Capacity |
1160000 TPA |
|
Actual Production |
651278 TPA |
GENERAL INFORMATION
|
No. of Employees : |
400 (Approximately) |
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Bankers : |
·
State Bank of India ·
Punjab National Bank ·
Indian Overseas Bank ·
State Bank of Hyderabad |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Statutory
Auditors: |
M. Anandam and Company Chartered Accountant |
|
Address : |
7 ‘A’, |
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Tel No: |
91-27812377 / 27812034 |
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Fax no: |
91-27812091 |
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Cost Auditors: |
Narasimha Murthy and Company 3-6-365, 104 and 105, Pavani Easte Himayatnagar, Hyderabad – 500029,
Telangana, India |
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Internal
Auditors: |
M. Bhaskara Rao and Company 5-4, 5th Floor “Kautilya”, 6-3-652, Somajiguda, Hyderabad
-500482, Telangana, India |
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|
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Associates/Subsidiaries
: |
· Vennar Ceramics Limited (ceased to a subsidiary w.e.f. 1st April 2012) · Hitech Print Systems Limited |
|
|
|
|
Enterprises owned or significantly influenced by key management
personnel : |
· Sai Aditya Foods and Retail Private Limited · Anjani Projects and Construction Limited · Mr. Vishnu Educational Society. · Anjani Cement (Karnatak) Limited · Raasi Enterprises Limited |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
14% Cumulative Redeemable Preference Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
|
30,000,000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Millions |
|
|
Total |
|
Rs.310.000
Millions |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18,394,463 |
Equity Shares |
Rs.10/- each |
Rs.183.945
Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18,389,597 |
Equity Shares |
Rs. 10/- each |
Rs.183.896
Millions |
|
|
|
|
|
Reconciliation of Number of Equity Shares Outstanding
|
Particulars
|
31st March, 13 (No of Shares) |
31st March, 13 (Rs. In Millions) |
|
As at beginning of the year |
18389597 |
183.896 |
|
Add : Issued during the year |
-- |
-- |
|
As at end of the year |
18389597 |
183.896 |
Shareholders
Holding More Than 5% Shares In the Company
|
Particulars
|
31st March, 2013 |
|
|
No
of shares |
%
of share Holding |
|
|
K V Vishnu Raju |
7228916 |
39.31 |
|
K Ramavathy |
1196600 |
6.51 |
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
(1)Shareholders' Funds |
|
|
|
(a) Share Capital |
183.896 |
183.896 |
|
(b) Reserves & Surplus |
621.533 |
590.622 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
805.429 |
774.518 |
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
(a) long-term
borrowings |
1587.077 |
1695.387 |
|
(b) Deferred tax liabilities (Net) |
135.461 |
120.164 |
|
(c) Other long
term liabilities |
21.276 |
14.331 |
|
(d) long-term
provisions |
10.783 |
7.161 |
|
Total Non-current
Liabilities (3) |
1754.597 |
1837.043 |
|
|
|
|
|
(4) Current Liabilities |
|
|
|
(a)
Short term borrowings |
508.192 |
367.849 |
|
(b)
Trade payables |
191.317 |
181.743 |
|
(c)
Other current liabilities |
558.224 |
488.535 |
|
(d) Short-term
provisions |
5.232 |
25.909 |
|
Total Current
Liabilities (4) |
1262.965 |
1064.036 |
|
|
|
|
|
TOTAL |
3822.991 |
3675.597 |
|
|
|
|
|
II.
ASSETS |
|
|
|
(1) Non-current assets |
|
|
|
(a)
Fixed Assets |
|
|
|
(i)
Tangible assets |
2308.543 |
2288.742 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
2.808 |
92.324 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
|
(b) Non-current Investments |
188.534 |
164.695 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
39.379 |
42.294 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
|
Total Non-Current
Assets |
2539.264 |
2588.055 |
|
|
|
|
|
(2) Current assets |
|
|
|
(a)
Current investments |
0.000 |
0.000 |
|
(b)
Inventories |
398.619 |
295.638 |
|
(c)
Trade receivables |
235.763 |
209.497 |
|
(d) Cash
and cash equivalents |
38.242 |
36.029 |
|
(e)
Short-term loans and advances |
611.103 |
546.378 |
|
(f)
Other current assets |
0.000 |
0.000 |
|
Total
Current Assets |
1283.727 |
1087.542 |
|
|
|
|
|
TOTAL |
3822.991 |
3675.597 |
|
SOURCES OF FUNDS |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
1] Share Capital |
183.896 |
|
|
2] Share Application Money |
0.000 |
|
|
3] Reserves & Surplus |
458.225 |
|
|
4] (Accumulated Losses) |
0.000 |
|
|
NETWORTH |
642.121 |
|
|
LOAN FUNDS |
|
|
|
1] Secured Loans |
1572.714 |
|
|
2] Unsecured Loans |
847.250 |
|
|
TOTAL BORROWING |
2419.964 |
|
|
DEFERRED TAX LIABILITIES |
96.165 |
|
|
|
|
|
|
TOTAL |
3158.250 |
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2342.627 |
|
|
Capital work-in-progress |
4.083 |
|
|
|
|
|
|
INVESTMENT |
164.695 |
|
|
DEFERREX TAX ASSETS |
0.000 |
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
Inventories |
337.821
|
|
|
Sundry Debtors |
148.747
|
|
|
Cash & Bank Balances |
22.749
|
|
|
Other Current Assets |
0.000
|
|
|
Loans & Advances |
387.329
|
|
Total
Current Assets |
896.646
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
Sundry Creditors |
207.842
|
|
|
Other Current Liabilities |
67.799
|
|
|
Provisions |
(25.840)
|
|
Total
Current Liabilities |
249.801
|
|
|
Net
Current Assets |
646.845
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
|
|
|
|
|
|
TOTAL |
3158.250 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2880.399 |
2960.924 |
1746.952 |
|
|
|
Other Income |
9.029 |
5.039 |
51.383 |
|
|
|
TOTAL (A) |
2889.428 |
2965.963 |
1798.335 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
427.483 |
383.213 |
|
|
|
|
Purchases of Stock-in-Trade |
10.708 |
1.041 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(87.576) |
80.903 |
1398.894 |
|
|
|
Employees benefits expense |
126.940 |
114.000 |
|
|
|
|
Other expenses |
1875.063 |
1728.675 |
|
|
|
|
TOTAL (B) |
2352.618 |
2307.832 |
1398.894 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
536.810 |
658.131 |
399.441 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
347.110 |
337.683 |
259.014 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
189.700 |
320.448 |
140.427 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
143.379 |
138.327 |
127.478 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
46.321 |
182.121 |
12.949 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
15.410 |
24.076 |
7.188 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
30.911 |
158.045 |
5.761 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
538.622 |
430.225 |
441.562 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
-- |
24.000 |
0.000 |
|
|
|
Dividend |
-- |
22.068 |
14.712 |
|
|
|
Tax on Dividend |
-- |
3.580 |
2.386 |
|
|
BALANCE CARRIED
TO THE B/S |
569.533 |
538.622 |
430.225 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.68 |
8.59 |
0.31 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.07 |
5.33 |
0.32
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.61 |
6.15 |
0.01
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.28 |
5.33 |
0.40
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.24 |
0.02
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.60 |
2.66 |
4.16
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.02 |
1.02 |
3.59
|
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
183.896 |
183.896 |
|
Reserves & Surplus |
590.622 |
621.533 |
|
Net worth |
774.518 |
805.429 |
|
|
|
|
|
long-term borrowings |
1695.387 |
1587.077 |
|
Short term borrowings |
367.849 |
508.192 |
|
Total borrowings |
2063.236 |
2095.269 |
|
Debt/Equity ratio |
2.664 |
2.601 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
1746.952 |
2960.924 |
2880.399 |
|
|
|
69.491 |
(2.720) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
1746.952 |
2960.924 |
2880.399 |
|
Profit |
5.761 |
158.045 |
30.911 |
|
|
0.33% |
5.34% |
1.07% |
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 |
Yes |
|
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
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 LOAN
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
|
(Rs. In Millions) |
|
|
LONG TERM
BORROWINGS: |
|
|
|
Public Deposits |
43.849 |
30.843 |
|
From Related Parties |
33.899 |
18.564 |
|
From Other Parties |
766.672 |
749.383 |
|
|
|
|
|
Total |
844.420 |
798.790 |
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10421275 |
27/03/2013 |
11,400,000.00 |
AXIS BANK LIMITED |
CORPORATE BANKING BRANCH, 1ST FLOOR, 6-3-879-B, G. PULLAREDDY BUILDING, GREENLANDS,, HYDERABAD, AND HRA PRADESH - 500016, INDIA |
B73626681 |
|
2 |
10384211 |
12/09/2012 |
360,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, BANK STREET, KOTI, HYDERABAD, ANDHRA PRADESH - 500095, INDIA |
B61223962 |
|
3 |
10268095 |
30/12/2010 |
45,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, BANK STREET, KOTI, HYDERABAD, ANDHRA PRADESH - 500095, INDIA |
B06633077 |
|
4 |
10169478 |
27/04/2013 * |
1,150,000,000.00 |
STATE BANK OF INDIA (LEAD BANK) |
COMMERCIAL BRANCH, MID CORPORATE GROUP, BANK STREET, KOTI, HYDERABAD, ANDHRA PRADESH - 500095, INDIA |
B74088154 |
|
5 |
10129746 |
05/11/2008 |
104,300,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, BANK STREET, KOTI, HYDERABAD, ANDHRA PRADESH - 500095, INDIA |
A50920750 |
|
6 |
10015847 |
27/04/2013 * |
747,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, MID CORPORATE GROUP, BANK STREET, KOTI, HYDERABAD, ANDHRA PRADESH - 500095, INDIA |
B74087933 |
|
7 |
10015848 |
03/08/2006 |
163,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, BANK STREET, KOTHI, HYDERABAD, ANDHRA PRADESH - 500095, INDIA |
A03584133 |
|
8 |
10013269 |
12/05/2006 |
300,000.00 |
PANJAB NATIONAL BANK |
BANK STREET BRANCH POST BOX 102, GMO BANK STREET, HYDERABAD, ANDHRA PRADESH - 500001, INDIA |
A01288331 |
|
9 |
90136903 |
24/08/2005 |
1,100,000.00 |
PUNJAB NATIONAL BANK |
BANK STREET, KOTI; ABIDS, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
10 |
90138174 |
17/02/2003 * |
198,000,000.00 |
THE STATE BANK OF INDIA |
COMMERCIAL BRANCH, KOTI, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
UNAUDITED STANDALONE FINANCIAL RESULTS
FOR QUARTER/YEAR ENDED
30th September, 2013
[Rs. in millions, except for
share data]
|
Particulars |
Quarter ended |
Year ended |
|
|
30.09.2013 Unaudited |
30.06.2013 Unaudited |
30.09.2013 Unaudited |
|
|
1) Net sales / Income from operations |
676.658 |
670.700 |
1347.359 |
|
Other Operating Income |
9.551 |
6.901 |
16.452 |
|
Total Income |
686.209 |
677.601 |
1363.811 |
|
2) Expenditure |
|
|
|
|
a) (Increase) /
decrease in Finished Goods and
Work in Progress |
18.697 |
1.754 |
20.451 |
|
b) consumption of materials |
102.660 |
138.052 |
240.712 |
|
c) Purchase of Traded Goods |
2.160 |
2.698 |
4.858 |
|
d) Employee Benefits Expense |
37.398 |
29.939 |
67.337 |
|
e) Power and Fuel |
239.963 |
269.934 |
509.897 |
|
f) Depreciation |
37.581 |
37.063 |
74.644 |
|
g) Other Expenditure |
172.318 |
151.347 |
323.665 |
|
Total
Expenditure |
610.777 |
630.787 |
1241.564 |
|
3) Profit from
Operations before other Income and finance Costs |
75.432 |
46.814 |
122.247 |
|
4) Other Income |
2.998 |
1.833 |
4.831 |
|
5) Profit before
Finance Costs |
78.430 |
48.647 |
127.078 |
|
6) Finance Costs |
79.129 |
83.745 |
162.874 |
|
7)Profit After Interest but before Exceptional |
(0.699) |
(35.098) |
(35.796) |
|
8) Profit from
Ordinary Activities before Tax |
(0.699) |
(35.098) |
(35.796) |
|
9) Tax Expenses |
(2.038) |
(11.247) |
(13.285) |
|
Net Profit from Ordinary Activities |
1.339 |
(23.851) |
(22.511) |
|
10) Net Profit
for the period |
1.339 |
(23.851) |
(22.511) |
|
11) Paid-up equity share capital |
183.896 |
183.896 |
183.896 |
|
(Face value of Rs.10/- each) |
|
|
|
|
12) Reserves excluding Revaluation |
|
|
621.533 |
|
Reserves as per
balance sheet of previous accounting Year |
|
|
|
|
13)Earning Per Share |
|
|
|
|
a) Basic and diluted EPS before Extraordinary items for the period, for
the year to date and for the previous year(not to be annualised) |
0.07 |
(1.30) |
(1.22) |
|
b) Basic and diluted EPS after Extraordinary items for the period, for
the year to date and for the previous year(not to be annualised) |
0.07 |
(1.30) |
(1.22) |
|
14) Public Shareholding |
|
|
|
|
Number of Shares |
7035467 |
7035467 |
7035467 |
|
Percentage of Shareholding |
38.26 |
38.26 |
38.26 |
|
Promoters and Promoter group |
|
|
|
|
a) Pledged/Encumbered |
|
|
|
|
Number of shares |
6618100 |
6618100 |
6618100 |
|
Percentage of Shares (as a % of the total shareholding of promoter and
promoter group) |
58.29 |
58.29 |
58.29 |
|
Percentage of Shares (as a % of the total share capital of the
Company) |
|
|
|
|
b) Non-encumbered |
|
|
|
|
Number of shares |
4736030 |
4736030 |
4736030 |
|
Percentage of Shares (as a % of the total shareholding of promoter and
promoter group) |
41.71 |
41.71 |
41.71 |
|
Percentage of Shares (as a % of the total share capital of the
Company) |
25.75 |
25.75 |
25.75 |
Notes:
(1)
The segment results are not applicable as the
company’s main business activity falls within a single segment.
(2)
The above results were reviewed by the Audit committee
and approved at the meeting of the Board of Directors held on 13.11.2013.
(3)
In terms of Listing Agreement, details of Investors
complaints for the quarter ended 30.09.2013; beginning – Nil, received and
disposed off – Nil and pending – Nil.
(4)
The figures of previous periods have been regrouped
wherever necessary.
STATEMENT OF ASSETS AND LIABILITIES AS
AT THE END OF THE YEAR
30th September , 2012
Stand
alone
|
|
PARTICULARS |
30.09.2013 (Rs. In
Millions) |
|
I. |
EQUITY AND
LIABILITIES |
|
|
(1) |
Shareholder’s
Funds |
|
|
|
(a) Share Capital |
183.896
|
|
|
(b) Reserves and Surplus |
599.023
|
|
|
|
|
|
(2) |
Non-Current
Liabilities |
|
|
|
(a) Long Term Borrowings |
1552.316
|
|
|
(b) Deferred Tax Liabilities (Net) |
123.519
|
|
|
(c) Other Long Term Liabilities |
11.360
|
|
|
(d) Long Term Provisions |
9.789
|
|
|
|
|
|
(3) |
Current
Liabilities |
|
|
|
(a) Short Term Borrowings |
540.828
|
|
|
(b) Trade Payables |
194.772
|
|
|
(c) Other Current Liabilities |
680.197
|
|
|
(d) Short Term Provisions |
1.652
|
|
|
TOTAL |
3897.352
|
|
|
|
|
|
II |
ASSETS |
|
|
(1) |
Non-Current
Assets |
|
|
|
(a) Fixed Assets |
|
|
|
(i) Tangible Assets |
2251.183
|
|
|
(ii) Capital work-in-progress |
5.934
|
|
|
(b) Non-current investments |
188.534
|
|
|
(c) Long Term Loans and Advance |
45.006
|
|
|
|
|
|
(2) |
Current Assets |
|
|
|
(a) Inventories |
365.414
|
|
|
(b) Trade Receivables |
270.921
|
|
|
(c) Cash and Cash Equivalents |
52.923
|
|
|
(d)Short Term Loans and Advances |
717.437
|
|
|
TOTAL |
3897.352
|
Fixed Assets:
·
Freehold Land
·
Buildings
·
Plant and Machinery
·
Vehicles
·
Office Equipment
·
Furniture and Fixtures
REVIEW OF
OPERATIONS
The company has produced a quantity of 837,993 MT of cement during the current financial year compared to the previous year production of 789,174 MT of cement registering an increase of 6%. The quantity sold during the year stands at 840,872 MT compared to the quantity of 794,528 MT during the previous financial year showing an increase of 6%.The gross sales in terms of value during the year were at 3281.112 Millions as against 3306.232 Millions during the previous financial year. Similarly the Profit before Tax for the current financial year amounts to 46.321 Millions against 182.122 Millions during the previous financial year. The profit after tax for the year stands at 30.911 Millions compared to 158.045 Millions during the previous financial year. It can be observed while there is an improvement in the performance in the physical terms, there is a decline in financial terms during the year compared to the previous year because of decrease in sale price. The higher production and sale in terms of quantity has not helped the company to post a better performance compared to the previous year. During the year 2012-13 the sale price has gone down substantially due to excess capacities over demand in consumption. The average increase in unit charges of power stands at about 38% (current year cost per unit is 5.53 while 4.00 during the previous year). Further there was a setback to cement industry in Andhra Pradesh due to non-supply of sand on account of High Court intervention for a period of six months. This has resulted to force the company to sell its product in other states and there by the margins have come down due to higher cost of freight. But for the increase in these costs, the company would have been in a much better position during the year 2012-13. In spite of the increase in these fuel costs and volatile market conditions, the company could perform on par with other cement companies due to higher production and sales quantities. The cement industry, with its fluctuating fortunes, is known for abnormal variations in the prices owing to several reasons including the changes in demand for the product, supply side changes, increase in installed capacities, changes in the Government spending pattern, emphasis on infrastructure projects, political Situation etc. Although the year was quite discouraging it is hoped that the situation would improve better for the coming year. The statistics available show that there is negative growth in AP for cement demand by about 3% during the year 2012-13 compared to the positive growth of 2 % in the year 2011-12 and 12% during 2010-11. The company could overcome the impact of this negative growth by expanding its marketing network in neighboring states by increasing the sale in those states.
Motilal Oswal Investment Advisors Pvt Ltd (“Manager to the
Offer”), for and on behalf of Chettinad Cement Corporation Ltd (“Acquirer”) has
informed this Announcement to the Public Shareholders of Anjani Portland Cement
Ltd ("Target Company"), pursuant to and in compliance with the SEBI
(SAST) Regulations in respect of the open offer (“Offer”) to acquire up to
47,81,296 (Forty seven lacs eighty one thousand two hundred and ninety six)
fully paid up equity shares of face value of Rs. 10/- (Rupees Ten) each
(“Shares”). The detailed public statement (“DPS”) with respect to the Offer was
made on March 20, 2014 and the letter of offer (the “Letter of Offer”) dated
June 16, 2014 with respect to the Offer was dispatched to all Public
Shareholders by June 19, 2014.
Capitalized terms used but not defined in this Advertisement shall have the
meaning assigned to such terms in the DPS and Letter of Offer.
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 judgment or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration:
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration:
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime:
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws:
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards:
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government:
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package:
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report:
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.80 |
|
|
1 |
Rs.102.42 |
|
Euro |
1 |
Rs.81.32 |
INFORMATION DETAILS
|
Information Gathered
by : |
HNA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
JAY |
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 |
3 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.