MIRA INFORM REPORT
|
Report Date : |
02.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
ACC LIMITED (w.e.f. 01.09.2006) |
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Formerly Known
As : |
THE ASSOCIATED CEMENT COMPANIES LIMITED |
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Registered
Office : |
Cement House, 121, |
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Country : |
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Financials (as
on) : |
31.12.2013 |
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Date of
Incorporation : |
01.08.1936 |
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Com. Reg. No.: |
11-002515 |
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Capital
Investment / Paid-up Capital : |
Rs.1879.500
millions |
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CIN No.: [Company Identification
No.] |
l26940mh1936plc002515 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
mumt00130e |
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PAN No.: [Permanent Account No.] |
aaact1507C |
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Legal Form : |
Public Limited Liability Company. The Company's shares are listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturer and Seller of Cement
and Ready Mix Concrete. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (73) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is an old and well established company having excellent track
record. Fundamentals of the company is decent. Financial position of the
company is strong and healthy. Rating also takes into consideration strong
market position in the cement industry. Trade relation reported to be fair. Business is active. Payment terms
are reported to be regular and as per commitment. The company can be considered good for business dealing 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 – 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 |
|
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
India’s current account deficit for the fiscal third quarter ended September
2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product from $31.9
billion or 6.5 % of GDP a year earlier, thanks to a pick-up in exports and
moderation in gold imports. Manufacturing activity and new orders in India
showed their strongest growth in a year in February. The news comes as a relief
after data showed Asia’s third largest economy grew by a slower-than-expected
4.7 % annually in the three months through December. The HSBC Manufacturing
Purchasing Managers’ Index which gauges the business activity of India’s
factories but not its’ utilities, rose to 52.5 in February, its highest in a
year from 51.4 in January. Overall new orders for factory goods which rose to a
one-year high of 54.9 contributed to the surge. China has emerged as India’s
biggest trading partner in the current financial year replacing the United Arab
Emirates and pushing it to the third spot. India-China trade has reached $49.5
billion with a 8.7 % share in India’s total trade. The US comes second at $46
billion with 8.1 % share during the first nine months of the current financial
year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
LONG TERM RATING = AAA |
|
Rating Explanation |
Highest degree of safety and lowest credit risk. |
|
Date |
09.10.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
SHORT TERM RATING = A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
09.10.2013 |
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.
INFORMATION DECLINED
Management non co-operative [91-22-22039122]
LOCATIONS
|
Registered Office/ Corporate Office : |
Cement House, 121, |
|
Tel. No.: |
91-22-33024321 |
|
Fax No.: |
91-22-66317440 |
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E-Mail : |
Feedback and Assistance: gulnaz.nensey@acclimited.com Enquiries For requirements in For requirements in
Kolkata : sanjay.roy@accconcrete.com Mumbai: vishal.tandon@accconcrete.com Chennai: ramchander.rao@accconcrete.com Vendor Queries: mahendrakumar.swami@acclimited.com Shareholder queries: sujata.chitre@acclimited.com
Investor Grievances: ACC-InvestorSupport@acclimited.com Waste Management: Ulhas.parlikar@acclimited.com Media Queries: nand.kumar@acclimited.com |
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Website : |
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CEMENT PLANTS : |
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Factory 1 : |
Cement Nagar, PO Bardol, District Bargarh - 768
038, |
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Tel. No.: |
91-6646-246189/ 90 |
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Fax No.: |
91-6646-246430 |
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Factory 2 : |
P.O. Jhinkpani, District (West) Singhbhum - 833 215, |
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Tel. No.: |
91-6589-235300/ 391 |
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Fax No.: |
91-6589-235250 |
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Factory 3 : |
P.O. Cementnagar, District Chandrapur - 442 502, |
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Tel. No.: |
91-7172-285026 |
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Fax No.: |
91-7172-285165 |
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Factory 4 : |
Madhukunda, P.O. Sunuri, District Purulia - 723 121, West |
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Tel. No.: |
91-3251-272224 |
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Fax No.: |
91-3251-272202 |
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Factory 5 : |
P.O. Barmana, District Bilaspur - 174 013, |
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Tel. No.: |
91-1978-244069/ 31 |
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Fax No.: |
91-1978-244067 |
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Factory 6 : |
P.O. Jamul Cement Works, District Durg - 490 024, |
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Tel. No.: |
91-788-2285081-83 |
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Fax No.: |
91-788-2282585 |
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Factory 7 : |
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Factory 8 : |
P.O. Kymore, District Katni - 483 880, |
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Tel. No.: |
91-7626-272301/ 865 |
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Fax No.: |
91-7626-272303 |
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Factory 9 : |
P.O. Lakheri, District Bundi - 323 603, |
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Tel. No.: |
91-7438-261642 |
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Fax No.: |
91-7438-261504 |
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Factory 10 : |
P.O. Madukkarai, District |
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Tel. No.: |
91-422-2622282 |
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Fax No.: |
91-422-2622282 |
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Factory 11 : |
P.O. ACC Colony, District Dhanbad - 828 124, |
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Tel. No.: |
91-326-2245120/ 054 |
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Fax No.: |
91-326-2245515 |
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Factory 12 : |
P.O. Wadi, District |
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Tel. No.: |
91-8476-202239 |
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Fax No.: |
91-8476-202190 |
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Factory 13 : |
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Tel. No.: |
91-8155-288802 |
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Fax No.: |
91-8155-288682 |
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Techport : |
ACC Thane Complex, L.B.S. Marg, Thane (West) - 400 604, |
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Tel. No.: |
91-22-33028000, 39248200 |
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Regional Office
: |
Located at: v Eastern Region (Kolkata) v Northern Region ( v South and Western Region (Pune) |
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Training Centres
: |
Located at: v
v
ACC Cement Technology Institute, Jamul v
Sumant Moolgaokar Technical Institute, Kymore v
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Located at: v v Chennai v v Dehradun v
Hubli v
v
v
v
v |
DIRECTORS
AS ON 31.12.2013
|
Name : |
|
|
Designation : |
Chairman |
|
Date of Birth/ Age : |
21.09.1949 |
|
Qualification : |
Bachelor of Chemical Engineering from Bombay University |
|
Date of Appointment : |
27.12.1999 |
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|
Name : |
Mr. Paul Hugentobler |
|
Designation : |
Deputy Chairman |
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Date of Birth/ Age : |
14.02.1949 |
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Qualification : |
Degree in Civil
Engineering from ETH, |
|
Date of Appointment : |
06.05.2005 |
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|
|
|
Name : |
Mr. Kuldip Kaura |
|
Designation : |
Chief Executive
Officer and Managing Director |
|
Qualification : |
BE |
|
Date of Appointment : |
05.08.2010 |
|
|
|
|
Name : |
Mr. S.M. Palia |
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Designation : |
Director |
|
Date of Birth/ Age : |
25.04.1938 |
|
Qualification : |
B.Com.; LL.B;
CAIIB; CIIB ( |
|
Date of Appointment : |
25.01.2002 |
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|
Name : |
Mr. Farrokh K Kavarana |
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Designation : |
Director |
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|
Name : |
Mr. Bernard Fontana |
|
Designation : |
Director |
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|
Name : |
Mr. M.L. Narula |
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Designation : |
Director |
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Date of Birth/ Age : |
25.10.1940 |
|
Qualification : |
B.Sc.;
Engineering (Electrical) from |
|
Date of Appointment : |
01.04.2007 |
|
|
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|
Name : |
Mr. Bernard Terver |
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Designation : |
Director |
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|
Name : |
Mr. Shailesh Haribhakti |
|
Designation : |
Director |
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Date of Birth/ Age : |
12.03.1956 |
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Qualification : |
FCA; FICWA |
|
Date of Appointment : |
17.02.2006 |
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|
Name : |
Mr. Aidan Lynam |
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Designation : |
Director |
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|
Name : |
Mr. Sushil Kumar Roongta |
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Designation : |
Director |
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|
Name : |
Mr. Ashwin Dani |
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Designation : |
Director |
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Date of Birth/ Age : |
24.10.1942 |
|
Qualification : |
BSc (Honours);
B.Sc (Tech) (Pigments Paints and Varnishes); Masters Degree in Polymer
Science ( |
|
Date of Appointment : |
15.12.2011 |
KEY EXECUTIVES
|
Name : |
Mr. Burjor Dorab Nariman |
|
Designation : |
Company Secretary and Head Compliance |
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|
Name : |
Mr. Rajesh Kanode |
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Designation : |
General Manager (Finance) |
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Audit Committee : |
Mr. Shailesh Haribhakti, Chairman Mr. S.M. Palia Mr. Naresh Chandra Mr. Paul Hugentobler Mr. Sushil Kumar Roongta |
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|
Shareholders’/
Investors’ Grievance Committee : |
Mr. Paul Hugentobler, Chairman Mr. M.L. Narula Mr. Kuldip Kaura |
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Compensation Committee : |
Mr. Paul Hugentobler Mr. Shailesh Haribhakti |
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Compliance Committee : |
Mr. R A Shah, Chairman Mr. Naresh Chandra Mr. Shailesh Haribhakti Mr. Paul Hugentobler Mr. Kuldip Kaura |
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CAPEX Committee : |
Mr. Paul Hugentobler, Chairman Mr. S.M. Palia Mr. M.L. Narula Mr. Aidan Lynam Mr. Sushil Kumar Roongta Mr. Kuldip Kaura |
|
|
|
|
Managing Committee : |
Mr. Kuldip Kaura, Chairman Mr. Sunil Nayak Mr. J. Datta Gupta Mr. Rajiv Prasad Mr. Vivek Chawla Mr. Shakti Arora Mr. P N Iyer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2014
|
Category of
Shareholder |
Total No. of Shares |
Total Shareholding as
a % of Total No. of Shares |
|
(A) Shareholding of Promoter and Promoter
Group |
|
|
|
|
|
|
|
|
93888120 |
50.01 |
|
|
93888120 |
50.01 |
|
|
|
|
|
|
541000 |
0.29 |
|
|
541000 |
0.29 |
|
Total shareholding of Promoter and Promoter
Group (A) |
94429120 |
50.30 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
6080360 |
3.24 |
|
|
18319115 |
9.76 |
|
|
287815 |
0.15 |
|
|
37010670 |
19.71 |
|
|
61697960 |
32.86 |
|
|
|
|
|
|
5748468 |
3.06 |
|
|
|
|
|
|
20937962 |
11.15 |
|
|
3147227 |
1.68 |
|
|
75 |
0.00 |
|
|
1784544 |
0.95 |
|
|
900 |
0.00 |
|
|
777416 |
0.41 |
|
|
313518 |
0.17 |
|
|
303606 |
0.16 |
|
|
385965 |
0.21 |
|
|
3139 |
0.00 |
|
|
31618276 |
16.84 |
|
Total Public shareholding (B) |
93316236 |
49.70 |
|
Total (A)+(B) |
187745356 |
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) |
187745356 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Seller of Cement
and Ready Mix Concrete. |
||||
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Products : |
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PRODUCTION STATUS [AS ON 31.12.2011]
|
Particulars |
Unit |
Installed/Rated
Capacity |
Actual
Production |
|
Cement |
Lakh Tonnes |
286.83 |
234.60 |
Licensed Capacity per
annum not indicated due to the abolition of Industrial Licences as per
Notification No.477 (E) dated July 25, 1991 issued under The Industries
(Development and Regulation) Act, 1951.
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
v
State Bank of v
Citibank, N.A. v
The Hongkong and Shanghai Banking Corporation
Limited v
Banking Corporation Limited v
HDFC Bank Limited v
ICICI Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
S.R. Batliboi and Associates Chartered Accountants |
|
Address : |
14th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar
(West), Mumbai - 400028, Maharashtra, India |
|
Tel. No.: |
91-22-61920000 |
|
Fax No.: |
91-22-61921000 |
|
|
|
|
Cost Auditor : |
N.I. Mehta and Company Chartered Accountants |
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Ultimate Holding
Company : |
Holcim Limited |
|
|
|
|
Holding Company
of Holcim ( |
Holderind Investments Limited |
|
|
|
|
Holding Company
: |
Holcim (India) Private Limited |
|
|
|
|
Associates/Subsidiaries : |
v
Bulk Cement Corporation (India) Limited v
ACC Mineral Resources Limited v
Lucky Minmat Limited v
National Limestone Company Private Limited v
Singhania Minerals Private Limited v
Alcon Cement Company Private Limited v
Asian Concretes & Cements Private Limited v
Aakaash Manufacturing Company Private Limited |
|
|
|
|
Fellow Subsidiaries : |
v
Ambuja Cements Limited v
Holcim Group Services Ltd. v
Holcim Group Support Ltd. (Merged with Holcim Technology Ltd w.e.f
January 01, 2013) v
Holcim (Singapore) Pte Limited v
Holcim Trading FZCO v
Holcim (Lanka) Limited v
P T Holcim Indonesia Tbk v
Holcim Services (South Asia) Limited v
Holcim (Bangladesh) Limited v
Holcim (Vietnam) Limited v
Holcim (Malaysia) SDN BHD v
Holcim (US) INC v
Holcim Foundation v
Holcim Services Asia Bangkok v
Holcim Services (Asia) Limited v
Holcim Technology Ltd v
Holcim Trading Pte Ltd v
AL Jabor Cement Industries Co. v
Holcim Trading S. A. v
Holcim (Australia) PTY Ltd. |
|
|
|
|
Associate Company of
Fellow Subsidiary w.e.f January 01, 2013 : |
Siam
City Cement Public Company Limited |
|
|
|
|
Associate Company of Fellow Subsidiary : |
National
Cement Factory |
CAPITAL STRUCTURE
AS ON 31.12.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
225000000 |
Equity Shares |
Rs.10/- each |
Rs.2250.000 Millions |
|
100000000 |
Preferences Shares |
Rs.10/- each |
Rs.1000.000 Millions |
|
|
TOTAL
|
|
Rs.3250.000
Millions |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
188793243 |
Equity Shares |
Rs.10/- each
|
Rs.1887.900
Millions |
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
187745356 |
Equity Shares |
Rs.10/- each
|
Rs.1877.500
Millions |
|
|
Add: Forfeited Equity Shares |
|
Rs.2.000
Millions |
|
|
TOTAL
|
|
Rs.1879.500 Millions |
NOTES:
TERMS / RIGHTS TO EQUITY
SHARES
The company has only one
class of equity shares having par value of Rs. 10 per share. Each holder of
equity shares is entitled to one vote per share. The dividend proposed by the
Board of Directors is subject to the approval of the shareholders in the
ensuing Annual General Meeting, except in case of interim dividend.
EQUITY
SHARES HELD BY HOLDING COMPANY / ULTIMATE HOLDING AND THEIR SUBSIDIARIES
|
Particular
|
As on 31.12.2013 Rs. In Millions |
|
Holcim
(India) Private Limited, the Holding Company 9,38,88,120
(Previous Year - 9,38,88,120)
Equity shares Rs. 10 each fully paid |
938.900 |
|
Holderind Investments
Limited, Mauritius, Holding Company of Holcim (India) Private Limited 5,41,000
(Previous Year - 5,41,000)
Equity shares Rs. 10 each fully paid |
5.400 |
Both
these Companies are subsidiaries of Holcim Ltd., Switzerland, the ultimate
holding Company
The Company has issued
total 63,537 (Previous Year -
1,20,938) Equity shares Rs. 10 each fully paid during the period of five
years immediately preceding the reporting date on exercise of options granted
under the employee stock option plan, wherein part consideration was received
in form of employee services.
DETAILS
OF SHAREHOLDERS HOLDING MORE THAN 5% SHARES IN THE COMPANY
|
PARTICULAR |
AS ON 31.12.2013 |
|
|
|
No. of Shares |
% Holding |
|
Holcim
(India) Private Limited |
93888120 |
50.01 |
|
Life
Insurance Corporation of India |
15392891 |
8.20 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1879.500 |
1879.500 |
1879.500 |
|
(b) Reserves &
Surplus |
76368.900 |
71948.500 |
70043.200 |
|
(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) |
78248.400 |
73828.000 |
71922.700 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
850.300 |
5060.800 |
|
(b) Deferred tax
liabilities (Net) |
5072.700 |
5169.200 |
5183.600 |
|
(c) Other long term
liabilities |
4067.500 |
3810.900 |
3722.600 |
|
(d) long-term provisions |
890.900 |
923.600 |
1230.600 |
|
Total Non-current
Liabilities (3) |
10031.100 |
10754.000 |
15197.600 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
6392.000 |
6604.900 |
7102.600 |
|
(c) Other current
liabilities |
15456.900 |
15158.100 |
15170.600 |
|
(d) Short-term provisions |
10807.500 |
12917.300 |
10499.400 |
|
Total Current Liabilities
(4) |
32656.400 |
34680.300 |
32772.600 |
|
|
|
|
|
|
TOTAL |
120935.900 |
119262.300 |
119892.900 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
55031.300 |
58628.500 |
62062.600 |
|
(ii) Intangible Assets |
8.300 |
10.200 |
12.700 |
|
(iii) Capital
work-in-progress |
8196.100 |
3113.000 |
3656.300 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
1768.100 |
1946.700 |
4451.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
8668.300 |
5642.000 |
4478.800 |
|
(e) Other Non-current
assets |
3082.400 |
1658.400 |
561.400 |
|
Total Non-Current Assets |
76754.500 |
70998.800 |
75222.800 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
20172.100 |
23588.800 |
11798.500 |
|
(b) Inventories |
11214.700 |
11335.500 |
10995.400 |
|
(c) Trade receivables |
3972.200 |
3034.500 |
1877.400 |
|
(d) Cash and cash
equivalents |
5033.800 |
6783.800 |
16525.600 |
|
(e) Short-term loans and
advances |
3593.900 |
3232.900 |
3323.200 |
|
(f) Other current assets |
194.700 |
288.000 |
150.000 |
|
Total Current Assets |
44181.400 |
48263.500 |
44670.100 |
|
|
|
|
|
|
TOTAL |
120935.900 |
119262.300 |
119892.900 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
111689.400 |
113579.600 |
96602.900 |
|
|
|
Other Income |
2237.900 |
2648.200 |
1919.100 |
|
|
|
TOTAL (A) |
113927.300 |
116227.800 |
98522.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost
of material consumed |
16214.800 |
15514.700 |
11403.000 |
|
|
|
Purchase
of stock-in-trade |
2328.600 |
1587.500 |
1697.800 |
|
|
|
Employee
Benefits expenses |
6616.800 |
6166.500 |
5330.100 |
|
|
|
Power
and fuel |
23823.400 |
23822.600 |
21833.000 |
|
|
|
Freight
and Forwarding expense |
23161.100 |
22211.700 |
18944.400 |
|
|
|
Other
expenses |
23191.500 |
22120.600 |
19131.300 |
|
|
|
Exceptional
items |
0.000 |
3353.800 |
0.000 |
|
|
|
Changes in inventories of finished goods, work in progress and stock in
trade |
65.300 |
200.200 |
(943.900) |
|
|
|
TOTAL (B) |
95401.500 |
94977.600 |
77395.700 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
18525.800 |
21250.200 |
21126.300 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
516.700 |
1146.500 |
969.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
18009.100 |
20103.700 |
20157.200 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5739.500 |
5588.800 |
4753.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
12269.600 |
14514.900 |
15404.200 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1312.000 |
3903.000 |
2151.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
10957.600 |
10611.900 |
13252.600 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
38618.300 |
38215.400 |
33814.100 |
|
|
|
|
|
|
|
|
|
Add / (Less) |
ADJUSTMENT
PURSUANT TO AMALGAMATION |
0.000 |
(2162.900) |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
2065.200 |
2065.200 |
2065.200 |
|
|
|
Proposed Final Dividend |
3567.200 |
3567.200 |
3191.700 |
|
|
|
Tax on Equity Dividends |
957.200 |
913.700 |
852.800 |
|
|
|
Previous Year Dividend Distribution Tax |
27.600 |
0.000 |
(14.900) |
|
|
|
Transfer to General Reserve |
1200.000 |
1500.000 |
2500.000 |
|
|
|
Transfer to Debenture Redemption Reserve |
0.000 |
0.000 |
250.000 |
|
|
|
Transfer to Amortization Reserve |
0.000 |
0.000 |
6.500 |
|
|
BALANCE CARRIED
TO THE B/S |
41758.700 |
38618.300 |
38215.400 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
7.800 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
560.700 |
1030.000 |
1050.700 |
|
|
|
Stores & Spare Parts |
536.500 |
1075.000 |
764.500 |
|
|
|
Coal |
2094.400 |
4025.200 |
2001.300 |
|
|
|
Capital Goods |
1043.500 |
510.000 |
213.800 |
|
|
TOTAL IMPORTS |
4235.100 |
6640.200 |
4030.300 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
-
Basic |
58.36 |
56.52 |
70.59 |
|
|
|
-
Diluted |
58.23 |
56.38 |
70.42 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
PAT / Total Income |
(%) |
9.62
|
9.13 |
13.45
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.99
|
12.77 |
15.95
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.05
|
12.70 |
13.78
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.20 |
0.21
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.01 |
0.07
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35
|
0.14 |
1.36
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
1879.500 |
1879.500 |
1879.500 |
|
Reserves & Surplus |
70043.200 |
71948.500 |
76368.900 |
|
Net worth |
71922.700 |
73,828.000 |
78248.400 |
|
|
|
|
|
|
long-term borrowings |
5060.800 |
850.300 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
5060.800 |
850.300 |
0.000 |
|
Debt/Equity ratio |
0.070 |
0.012 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
96602.900 |
113579.600 |
111689.400 |
|
|
|
17.574 |
(1.664) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
96602.900 |
113579.600 |
111689.400 |
|
Profit |
13252.600 |
10611.900 |
10957.600 |
|
|
13.72% |
9.34% |
9.81% |
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 |
Yes |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10192504 |
27/11/2009 * |
3,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI - 400001, MAHARASHTRA, INDIA |
A76338987 |
|
2 |
10145237 |
29/07/2009 * |
2,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI - 400001, MAHARASHTRA, INDIA |
A67783993 |
* Date of charge modification
|
LITIGATION DETAILS |
|||||||
|
HIGH COURT OF BOMBAY |
|||||||
|
Bench:- Bombay |
|||||||
|
Stamp No:- |
WPL/787/2013 |
Failing Date:- |
22/03/2013 |
Reg. No.:- |
WP/895/2013 |
Reg. Date:- |
30.04.2013 |
|
Petitioner:- |
The Associated Cement Staff Union |
Respondent:- |
ACC Limited |
||||
|
Petn.Adv:- |
P.M. Patel |
Resp. Adv: |
Haresh Mehta and Company |
||||
|
District:- |
MUMBAI |
||||||
|
Bench:- |
Single |
Category:- |
Writ Retition (Labour Matters) |
||||
|
Status:- |
Admission (Unready) |
Stage:- |
For Admission – Fresh (Original Side Matters) |
||||
|
Last Date:- |
27/09/2013 |
||||||
|
Last Coram:- |
Hon’ble Shri Justics A.A. Sayed |
||||||
|
Act:- |
M.R.T.U. AND P.U.L.P Act |
||||||
|
Unsecured Loan |
As
on 31.12.2013 [Rs.
in Millions] |
As
on 31.12.2012 [Rs.
in Millions] |
|
Long Term Borrowings
|
|
|
|
Deferred
payment liability |
0.000 |
16.200 |
|
Deferred
sales tax loans |
0.000 |
14.100 |
|
TOTAL
|
0.000 |
30.300 |
COMPANY OVERVIEW
Subject is a public limited
company domiciled and headquartered in India and incorporated under the
provision of Companies Act, 1956. Its shares are listed on two stock exchanges
in India. The Company is engaged in the manufacturing and selling of Cement and
Ready mix concrete. The Company caters mainly to the domestic market.
ECONOMIC SCENARIO AND
OUTLOOK:
Indian economic growth in
2013 had slowed down to 4.5%-5% which is the lowest in a decade. The high
borrowing cost to combat inflation coupled with lower private consumption, low
investment in infrastructure and other sectors were responsible for this.
Although agriculture and allied sectors had shown improvement following a good
monsoon and exports grew due to the depreciation in the value of the Indian
Rupee, the economic growth was mainly pulled down by the contraction of the
manufacturing sector. The low economic growth appears to have bottomed out and
a gradual increase in economic activity is expected from the middle of 2014.
FINANCE:
The Company’s cash and cash
equivalent as at December 31, 2013 was Rs. 26210.000 Millions. The Company
continues to focus on judicious management of its working capital. Receivables,
inventories and other working capital parameters are kept under strict check
through continuous monitoring. The Company’s debt programme continues to enjoy
an “AAA” rating from CRISIL. During the year under review, the Company had
given an option of premature redemption of Non-Convertible Debentures to the
holders of its Privately Placed Debentures.
Non-Convertible Debentures
of the aggregate value of Rs. 1050.000 Millions, stand prematurely redeemed
whilst debentures of the aggregate value of Rs. 200.000 Millions, stand
redeemed on maturity as on December 31, 2013. As on date, Non-Convertible
Debentures aggregating Rs. 320.000 Millions remain outstanding.
FIXED ASSETS:
Tangible Assets:
- Freehold Land
- Leasehold Land
- Buildings
- Plant and Machinery
- Roads, Bridges and Fences
- Railway Sidings
- Rolling Stock
- Furniture, Fixtures and Equipments
- Vehicles
Intangible Assets:
- Computer Software
- Mining Right
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government official
or a family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.03 |
|
|
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.80.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
Yes |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
73 |
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.