|
Report Date : |
04.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
GUJARAT NARMADA VALLEY FERTILIZERS AND CHEMICALS LIMITED (w.e.f.
10.10.2012) |
|
|
|
|
Formerly Known
As : |
GUJARATNARMADA VALLY FERTILIZERS COMPANY LIMITED |
|
|
|
|
Registered
Office : |
P. O. Narmadanagar, District Bharuch - 392 015, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
10.05.1976 |
|
|
|
|
Com. Reg. No.: |
04-002903 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1554.188 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24110GJ1976PLC002903 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDG00702C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACG8372Q |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Share are Listed on
the Stock Exchange. |
|
|
|
|
Line of Business
: |
Manufacturing and Selling of fertilizers viz. urea, ammonium
nitro-phosphate and calcium ammonium nitrate, chemicals viz. ammonia,
methanol, formic acid, acetic acid, nitric acids and ammonium nitrate melt
and electronics viz. digital switching systems and printed circuit boards. |
|
|
|
|
No. of Employees
: |
Information denied by the management
|
RATING & COMMENTS
|
MIRA’s Rating : |
A (69) |
|
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 108670000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a jointly promoted by the government of Gujarat and Gujarat
state Fertilizers and Chemical Limited. It is a well-established and reputed company having a good track record.
Financially company appears to be strong. Credit worthiness is high.
Liquidity position is good. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitment. The company can be considered for normal business dealings at usual
trade terms and condition |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com while quoting report
number, name and date.
INDIAN ECONOMIC OVERVIEW
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under control,
said the agency. Ratings firm Crisil has forecast 6 % growth for 2014/15 up
from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital
firms in India during 2013, registering a drop of about 18 % over the previous
year. The Information Technology and IT-Enabled Services Industry
retained its status as the favourable venture capital investors in 2013. Pakistan
has temporarily banned gold imports for the second time in six months, as it
tries to stem smuggling into India. India’s import duty on gold is 10 % and
curbs on purchases have dried up legal imports into what used to be the world’s
biggest bullion buyers. The World Gold Council puts the amount smuggled into
India at upto 200 tonnes in 2013. The Reserve Bank of India has proposed that
unclaimed bank deposits estimated to be about Rs 35000 mn be used for education
and awareness among depositors. According to the plan, deposits that have
not been claimed for at least 10 years will be transferred to the scheme.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term bond programmeAA- |
|
Rating Explanation |
High degree of safety and low credit risk. |
|
Date |
October 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 DENIED
MANAGEMENT NON – CORPORATIVE (91-2642-247001)
LOCATIONS
|
Registered Office / Head Office / Factory: |
P. O.
Narmadanagar, District Bharuch - 392 015, |
|
Tel. No.: |
91-2642-247001, 247002 (Head Office Bharuch) 91-2642-663626 (Fertilizers Division / Chemical Division) |
|
Fax No.: |
91-2642-247084 / 247057 / 247122 91-2642-247065 (Fertilizers Division / Chemical Division) |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on:01.08.2013
|
Name : |
Dr. Varesh Sinha, IAS |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Dr. Rajiv Kumar Gupta |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Shri DJ Pandian, IAS |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr. Hasmukh Adhia, IAS |
|
Designation : |
Director |
|
|
|
|
Name : |
Shri GC Murmu, IAS |
|
Designation : |
Director |
|
|
|
|
Name : |
Shri Atanu Chakraborty, IAS |
|
Designation : |
Director |
|
|
|
|
Name : |
Shri DC Anjaria |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr. TT Ram Mohan |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr. Ashok Shah |
|
Designation : |
Director |
|
|
|
|
Name : |
Shri JS Kochar |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Shri RA Shah, CFO |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Shri PK Masare |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Shri RT Bhargava |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Shri AT Patadia |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Shri JC Bhatt |
|
Designation : |
Executive Director |
KEY EXECUTIVES
|
Name : |
Shri RB Panchal |
|
Designation : |
Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on:31.12.2013
|
Category of
Shareholder |
Total No. of
Shares |
% of Total No.
of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
||
|
|
|
|
|
|
64003213 |
41.21 |
|
|
64003213 |
41.21 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
64003213 |
41.21 |
|
(B) Public Shareholding |
||
|
|
|
|
|
|
3310664 |
2.13 |
|
|
24596392 |
15.84 |
|
|
15266517 |
9.83 |
|
|
43173573 |
27.80 |
|
|
|
|
|
|
4774143 |
3.07 |
|
|
|
|
|
|
34506726 |
22.22 |
|
|
7861292 |
5.06 |
|
|
978596 |
0.63 |
|
|
288988 |
0.19 |
|
|
163429 |
0.11 |
|
|
3500 |
0.00 |
|
|
352614 |
0.23 |
|
|
170065 |
0.11 |
|
|
48120757 |
30.99 |
|
Total Public shareholding (B) |
91294330 |
58.79 |
|
Total (A)+(B) |
155297543 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
121240 |
0.00 |
|
|
121240 |
0.00 |
|
Total (A)+(B)+(C) |
155418783 |
0.00 |
Shareholding of securities (including shares, warrants, convertible
securities) of persons belonging to the category Promoter and Promoter Group
|
Name of the
Shareholder |
Details of Shares held |
|
|
No. of Shares held |
As a % of grand total |
|
|
Gujarat State Investments Ltd |
3,32,24,046 |
21.38 |
|
Gujarat State Fertilizers & Chemicals Ltd |
3,07,79,167 |
19.80 |
|
Total |
6,40,03,213 |
41.18 |
Shareholding of securities (including shares, warrants, convertible securities)
of persons belonging to the category Public and holding more than 1% of the
total number of shares
|
Name of the
Shareholder |
No. of Shares held |
Shares as % of Total No. of Shares |
|
|
Life Insurance Corporation of India |
14083612 |
9.06 |
|
|
Fidelity Puritan Trust - Fidelity low priced stock fund |
10413409 |
6.70 |
|
|
General Insurance Corporation of India |
4540053 |
2.92 |
|
|
LIC of India Market Plus -1 Growth Fund |
2819127 |
1.81 |
|
|
The New India Assurance Company Ltd |
2090613 |
1.35 |
|
|
Reliance Capital Trustee Co. Ltd - Reliance Long term Equity Fund |
2039975 |
1.31 |
|
|
Total |
35986789 |
23.15 |
|
Shareholding of securities (including shares, warrants, convertible securities)
of persons (together with PAC) belonging to the category “Public” and holding
more than 5% of the total number of shares of the company
|
Name(s) of the
shareholder(s) and the Persons Acting in Concert (PAC) with them |
No. of Shares |
Shares as % of Total No. of Shares |
|
|
Life Insurance Corporation of India |
14083612 |
9.06 |
|
|
Fidelity Puritan Trust - Fidelity low priced stock fund |
10413409 |
6.70 |
|
|
Fidelity Northstar Fund |
1500000 |
0.97 |
|
|
Total |
25997021 |
16.73 |
|
Details of Depository Receipts (DRs)
|
Type of
Outstanding DR (ADRs, GDRs, SDRs, etc.) |
No. of
Outstanding DRs |
No. of Shares
Underlying |
Shares
Underlying Outstanding DRs as % of Total No. of Shares |
|
GDRs |
24,248 |
1,21,240 |
0.08 |
|
Total |
24,248 |
1,21,240 |
0.08 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Selling of fertilizers viz. urea,
ammonium nitro-phosphate and calcium ammonium nitrate, chemicals viz. ammonia,
methanol, formic acid, acetic acid, nitric acids and ammonium nitrate melt
and electronics viz. digital switching systems and printed circuit boards. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management
|
||||||||||||||||||||||||||||||||||||
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|
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|
Bankers : |
Not Available |
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|
||||||||||||||||||||||||||||||||||||
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Facilities : |
|
||||||||||||||||||||||||||||||||||||
|
Banking
Relations : |
-- |
|
|
|
|
Statutory Auditors : |
|
|
Name : |
M/S Deloitte Haskins and Sells Chartered Accountant |
|
Address : |
Ahmedabad, Gujarat, India |
|
|
|
|
Cost Auditors : |
|
|
Name : |
M/s Diwanji and Associates Chartered Accountants |
|
Address : |
Vadodara, Gujarat, India |
|
|
|
|
Company under Significant Influence : |
·
Gujarat Green Revolution Company Limited |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000000 |
Equity Shares |
Rs.10/- each |
Rs.2500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
155418783 |
Equity Shares |
Rs.10/- each |
Rs.1554.188 Millions |
|
|
|
|
|
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 |
1554.188 |
1554.188 |
1554.188 |
|
(b) Reserves & Surplus |
25615.201 |
23520.634 |
21314.537 |
|
(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) |
27169.389 |
25074.822 |
22868.725 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
18186.713 |
7941.385 |
5286.335 |
|
(b) Deferred tax liabilities (Net) |
2358.272 |
2211.572 |
2108.136 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
939.122 |
812.609 |
886.992 |
|
Total Non-current
Liabilities (3) |
21484.107 |
10965.566 |
8281.463 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
10119.732 |
4566.260 |
3870.338 |
|
(b) Trade
payables |
2207.720 |
4662.898 |
2759.788 |
|
(c) Other
current liabilities |
7940.360 |
10582.284 |
4054.297 |
|
(d) Short-term
provisions |
1298.515 |
1041.976 |
781.265 |
|
Total Current Liabilities
(4) |
21566.327 |
20853.418 |
11465.688 |
|
|
|
|
|
|
TOTAL |
70219.823 |
56893.806 |
42615.876 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
17959.075 |
15917.792 |
11979.547 |
|
(ii)
Intangible Assets |
115.749 |
133.754 |
149.848 |
|
(iii)
Capital work-in-progress |
27524.529 |
18672.008 |
13845.921 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1298.402 |
975.626 |
866.278 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1064.860 |
2781.664 |
3224.393 |
|
(e) Other
Non-current assets |
0.258 |
0.151 |
0.106 |
|
Total Non-Current
Assets |
47962.873 |
38480.995 |
30066.093 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
6369.933 |
5992.048 |
4635.324 |
|
(c) Trade
receivables |
11769.909 |
7786.422 |
4374.824 |
|
(d) Cash
and cash equivalents |
2211.931 |
2998.957 |
1836.811 |
|
(e)
Short-term loans and advances |
1905.177 |
1635.384 |
1702.824 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
22256.950 |
18412.811 |
12549.783 |
|
|
|
|
|
|
TOTAL |
70219.823 |
56893.806 |
42615.876 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
42525.705 |
38620.067 |
28458.930 |
|
|
|
Other Income |
403.793 |
300.939 |
1435.643 |
|
|
|
TOTAL |
42929.498 |
38921.006 |
29894.573 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials
Consumed |
24683.241 |
21350.695 |
15227.789 |
|
|
|
Purchases of
Stock-in Trade |
819.351 |
1493.875 |
454.958 |
|
|
|
Change in
Inventories of Finished Goods, Stock-in-Process and Stock-in-Trade |
(403.275) |
(679.400) |
(395.729) |
|
|
|
Employee Benefits
Expense |
2572.550 |
2839.177 |
2356.263 |
|
|
|
Other Expenses |
8921.294 |
8101.565 |
7025.096 |
|
|
|
TOTAL |
36593.161 |
33105.912 |
24668.377 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
6336.337 |
5815.094 |
5226.196 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
626.837 |
335.855 |
202.628 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
5709.500 |
5479.239 |
5023.568 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1485.549 |
1305.253 |
1211.123 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
4223.951 |
4173.986 |
3812.445 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1492.900 |
1335.636 |
1147.113 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
2731.051 |
2838.350 |
2665.332 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4850.200 |
5644.100 |
4565.800 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
3000.000 |
3000.000 |
1000.000 |
|
|
|
Dividend |
544.000 |
544.000 |
505.100 |
|
|
|
Tax on Dividend |
92.400 |
88.200 |
81.900 |
|
|
BALANCE CARRIED
TO THE B/S |
3944.900 |
4850.200 |
5644.090 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods FOB Basis |
285.131 |
86.646 |
85.978 |
|
|
|
Technical consultancy and other fees |
10.538 |
0.980 |
0.000 |
|
|
TOTAL EARNINGS |
295.669 |
87.626 |
85.978 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
3025.675 |
2304.107 |
1623.896 |
|
|
|
Spares |
189.775 |
366.884 |
274.657 |
|
|
|
Capital Goods |
434.888 |
755.880 |
1180.663 |
|
|
TOTAL IMPORTS |
3650.338 |
3426.871 |
3079.216 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
17.57 |
18.26 |
17.15 |
|
QUARTERLY /
SUMMARISED RESULTS
|
PARTICULARS |
30.06.2013 1stQuarter
|
30.09.2013 2nd
Quarter |
31.12.2013 3rd
Quarter |
|
Net Sales |
9590.500 |
11947.000 |
13679.600 |
|
Total Expenditure |
8754.400 |
10439.100 |
11673.400 |
|
PBIDT (Excl OI) |
836.100 |
1507.900 |
2006.200 |
|
Other Income |
90.300 |
140.700 |
126.800 |
|
Operating Profit |
926.400 |
1648.600 |
2133.000 |
|
Interest |
175.600 |
169.100 |
251.100 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
750.800 |
1479.500 |
1881.900 |
|
Depreciation |
369.600 |
369.000 |
346.900 |
|
Profit Before Tax |
381.200 |
1110.500 |
1535.000 |
|
Tax |
127.900 |
363.800 |
458.600 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
253.300 |
746.700 |
1076.400 |
|
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 |
253.300 |
746.700 |
1076.400 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
6.36
|
7.29 |
8.91 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.93
|
10.81 |
13.39 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.20
|
12.01 |
13.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.17 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.04
|
0.50 |
0.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.03
|
0.88 |
1.09 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
1554.188 |
1554.188 |
1554.188 |
|
Reserves & Surplus |
21314.537 |
23520.634 |
25615.201 |
|
Net
worth |
22,868.725 |
25,074.822 |
27,169.389 |
|
|
|
|
|
|
long-term borrowings |
5286.335 |
7941.385 |
18186.713 |
|
Short term borrowings |
3870.338 |
4566.260 |
10119.732 |
|
Total
borrowings |
9,156.673 |
12,507.645 |
28,306.445 |
|
Debt/Equity
ratio |
0.400 |
0.499 |
1.042 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
28458.930 |
38620.067 |
42525.705 |
|
|
|
35.705 |
10.113 |
NET PROFIT MARGIN
|
Net Profit
Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
28458.93 |
38620.067 |
42525.705 |
|
Profit |
2665.332 |
2838.35 |
2731.051 |
|
|
9.37% |
7.35% |
6.42% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM BORROWINGS:
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current
Maturities of Long-Term Borrowings |
|
|
|
|
Rupee Term Loans From Banks (Secured) |
2696.060 |
1731.795 |
2078.665 |
|
Rupee Term Loan From Bank (Unsecured) |
160.000 |
160.000 |
160.000 |
|
Rupee Term Loan From other (Unsecured) |
800.000 |
5500.000 |
0.000 |
|
Total |
3656.060 |
7391.795 |
2238.665 |
|
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 |
No |
|
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] |
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 |
LITIGATION DETAILS
|
HIGH COURT OF GUJARAT TAX APPEAL No. 2030 of 2009 |
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|
Status: PENDING (Converted from :ST/1657/2009) CCIN No :001092200902030 Last Listing Date:26.02.2014 Coram:HONOURABLE MR.JUSTICE AKIL KURESHI HONOURABLE MS JUSTICE SONIA GOKANI |
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|
S.NO. |
Name of the Petitioner |
Advocate On Record |
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|
1 |
COMMISSIONER OF INCOME TAX |
MR KM PARIKH for: Appellant(s) |
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|
S.NO. |
Name of the Respondant |
Advocate On Record |
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|
1 |
GUJARAT NARMADA VALLEY FERTILIZERS CO LTD |
MR MANISH J SHAH for :Opponent(s) |
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OFFICE DETAILS
|
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|
COURT PROCEEDINGS
AVAILABLE ORDERS
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
CERTIFIED COPY
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UNSECURED LOAN:
|
Particulars |
31.03.2013 [Rs.
in Millions] |
31.03.2012 [Rs.
in Millions] |
|
Long Term
Borrowing |
|
|
|
Rupee Term Loan From Bank |
80.038 |
240.000 |
|
Rupee Term Loan From other |
3200.000 |
1000.000 |
|
|
|
|
|
Short
Term Borrowing |
|
|
|
From Other |
30.500 |
30.500 |
|
Buyers' Credit in Foreign Currency from Banks |
362.293 |
732.523 |
|
|
|
|
|
Total |
3672.831 |
2003.023 |
INDEX CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10384762 |
27/06/2013 * |
15,050,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMBAI, Maharashtra -
400005, INDIA |
B80007164 |
|
2 |
10270315 |
28/02/2012 * |
11,545,300,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMBAI, Maharashtra - 400005, INDIA |
B34378125 |
|
3 |
10178704 |
26/09/2009 |
800,000,000.00 |
DENA BANK |
Manilal Chambers, Alkapuri, Vadodara, Gujarat - 390005, INDIA |
A70984190 |
|
4 |
10129162 |
10/10/2008 |
1,000,000,000.00 |
State Bank of India |
Industrial Finance Branch, First Floor, Marble Arc, Race Course,
Baroda, Gujarat - 390007, INDIA |
A50401405 |
|
5 |
80004923 |
23/02/1999 |
655,800,000.00 |
BANK OF BARODA |
BHARUCH, BHARUCH, Gujarat - 392015, INDIA |
- |
|
6 |
90109781 |
13/02/2002 * |
937,000,000.00 |
BANK OF BARODA |
INDL. ESTATE BRANCH, OPP. SHITAL GUEAT HOUSE; OLD |
- |
|
7 |
80052774 |
30/03/1998 |
34,000,000.00 |
STATE BANK OF INDIA |
STATION ROAD, BHARUCH, Gujarat - 392001, INDIA |
- |
|
8 |
90109682 |
13/10/1997 |
180,000,000.00 |
BANK OF BARODA |
INDL. ESTATE BRANCH, OPP. SHITAL GUEAT HOUSE; OLD |
- |
|
9 |
90103695 |
01/02/2013 * |
8,141,000,000.00 |
BANK OF BARODA |
GNFC COMPLEX BRANCH, P.O. NARMADANAGAR, BHARUCH, Gujarat - 392015, INDIA |
B68986421 |
|
10 |
80004914 |
31/12/1996 |
61,950,000.00 |
BANK OF BARODA |
BHARUCH, BHARUCH, Gujarat - 392015, INDIA |
- |
|
11 |
90109371 |
31/03/1997 * |
89,000,000.00 |
BANK OF BARODA |
INDL ESTATE BRANCH, OPP. SHITAL GUEAT HOUSE; OLD |
- |
|
12 |
80052772 |
21/12/1995 * |
79,000,000.00 |
BANK OF BARODA |
INDUSTRIAL ESTATE BRANCH, OPP. SHITAL GUEST HOUSE, OLD N. H. NO. 8,
BHARUCH, Gujarat - 392001, INDIA |
- |
|
13 |
80052771 |
22/03/1990 |
4,600,000.00 |
AMERICAN EXPRESS BANK LIMITED |
364, ORIENTAL BUILDING, D.N. ROAD, MUMBAI, Maharashtra - 400021, INDIA
|
- |
|
14 |
80052765 |
26/07/1989 |
100,000,000.00 |
UNIT TRUST OF INDIA |
13, SIR VITHALDAS THAKERSEY MARG, MUMBAI, Maharashtra - 400020, INDIA |
- |
|
15 |
80052769 |
26/07/1989 |
3,000,000.00 |
ORIENTAL INSURANCE COMPANY LIMITED |
ORIENTAL HOUSE, A-25/27, ASAF ALI ROAD, NEW DELHI, Delhi - 110002,
INDIA |
- |
|
16 |
80052761 |
03/11/1988 * |
10,000,000.00 |
GENERAL INSURANCE CORPORATION OF INDIA |
INDUSTRIAL ASSURANCE BUILDING, CHURCHGATE, MUMBAI, Maharashtra -
400020, INDIA |
- |
|
17 |
80052758 |
30/04/1987 |
71,400,000.00 |
STATE BANK OF INDIA |
STATION ROAD, BHARUCH, Gujarat - 392001, INDIA |
- |
|
18 |
80052759 |
30/04/1987 |
57,200,000.00 |
PUNJAB NATIONAL BANK |
LALLUBHAI CHAKLA, BHARUCH, Gujarat - 392001, INDIA |
- |
|
19 |
80052760 |
30/04/1987 |
6,855,000.00 |
STATE BANK OF SAURASHTRA |
BHARUCH BRANCH, BHARUCH, Gujarat - 392001, INDIA |
- |
|
20 |
80052756 |
13/04/1987 |
10,000,000.00 |
UNITED COMMERCIAL BANK |
SATI STREET, BHARUCH, Gujarat - 392001, INDIA |
- |
|
21 |
80052757 |
13/04/1987 |
10,000,000.00 |
UNITED COMMERCIA BANK |
SATI STREET, BHARUCH, Gujarat - 392001, INDIA |
- |
|
22 |
80052755 |
20/03/1987 |
6,400,000.00 |
ALLAHABAD BANK |
RAJMAHAL ROAD, BARODA, Gujarat - 390001, INDIA |
- |
|
23 |
80052794 |
28/06/1986 |
83,800,000.00 |
STATE BANK OF INDIA |
STATION ROAD, BHARUCH, Gujarat - 392001, INDIA |
- |
|
24 |
80052795 |
28/06/1986 |
83,800,000.00 |
STATE BANK OF INDIA |
STATION ROAD, BHARUCH, Gujarat - 392001, INDIA |
- |
|
25 |
80052776 |
24/05/1986 |
32,200,000.00 |
PUNJAB NATIONAL BANK |
LALLUBHAI CHAKLA, BHARUCH, Gujarat - 392001, INDIA |
- |
|
26 |
80052793 |
24/05/1986 |
32,200,000.00 |
PUNJAB NATIONAL BANK |
LALLUBHAI CHAKLA, BHARUCH, Gujarat - 392001, INDIA |
- |
|
27 |
80052790 |
17/05/1986 |
9,600,000.00 |
STATE BANK OF SAURASHTRA |
VADA PARA, BHARUCH, Gujarat - 392001, INDIA |
- |
|
28 |
80052792 |
17/05/1986 |
9,600,000.00 |
STATE BANK OF SAURASHTRA |
VADA PADA , BHARUCH, Gujarat - 392001, INDIA |
- |
|
29 |
80052787 |
10/05/1986 |
15,000,000.00 |
CENTRAL BANK OF INDIA |
JUNA BAZAR, BHARUCH, Gujarat - 392001, INDIA |
- |
|
30 |
80052788 |
10/05/1986 |
6,160,000.00 |
INDIAN BANK |
SHALIMAR COMPLEX, STATION ROAD, BHARUCH, Gujarat |
- |
|
31 |
80052785 |
05/05/1986 * |
48,200,000.00 |
BANK OF INDIA |
JUNA BAZAR, BHARUCH, Gujarat - 392001, INDIA |
- |
|
32 |
80052786 |
05/05/1986 * |
48,200,000.00 |
BANK OF INDIA |
JUNA BAZAR, BHARUCH, Gujarat - 392001, INDIA |
- |
|
33 |
80052784 |
25/04/1986 |
3,200,000.00 |
SYNDICATE BANK |
PANCH BATTI, BHARUCH, Gujarat - 392001, INDIA |
- |
|
34 |
80052782 |
02/08/1985 |
17,500,000.00 |
THE INDUSTRIAL CREDIT AND INVESTMENT CORPORATION OF INDIA LIMITED |
163, BACKBAY RECLAMATION, MUMBAI, Maharashtra - 400020, INDIA |
- |
|
35 |
80052780 |
08/02/1980 * |
30,000,000.00 |
INDIAN OVERSEAS BANK |
151, MOUNT ROAD, CHANNAI, Tamil Nadu - 600002, INDIA |
- |
* Date of charge modification
ECONOMIC OUTLOOK:
India's economy was expected to grow at around 6-6.5% at the time the
Union budget was presented earlier in the year. In the light of subsequent
developments, however, it appears that the growth rate will be lower, say,
closer to 5.5%. Even this growth rate will be the result of a revival of
agricultural, rather than industrial growth. The corporate sector, therefore,
has to brace for another tough year following low growth in 2012-13.
The IMF expects global growth at around 3.1% this year, with an
improvement in US and Japan being offset by slower growth in emerging markets,
notably China and India. In India, although the wholesale inflation rate has
shown signs of falling to a lower level compared to last year, the prospects
for monetary easing have received a setback because of adverse developments in
their external accounts.
The current account deficit for FY 2012-13 was 4.8% of GDP, way above
the sustainable level of 2.5%. On top of this, the perception of an earlier
than expected tapering of quantitative has put pressures on net inflows of
capital. This has caused the rupee to depreciate by a steep 5.8% in nominal
terms in the period May 22 to July 26, 2013 and there are expectations amongst
market participants that the rupee could depreciate further. These developments
are seen as having limited the scope for monetary easing and a pick-up in
growth driven by lower interest rates. Companies such as ours will have to ride
this year out with a focus on production efficiencies, management of costs and
greater efforts to increase exports.
INDUSTRY STRUCTURE
AND DEVELOPMENTS:
Chemical Business:
The Chemical Industry is among one of the fastest growing sector in India. The bulk of chemicals produced in India comprise either upstream products or intermediates, which go into variety of manufacturing applications including fertilizers, pharmaceuticals, textiles, paints, agrochemicals, dyes etc. Imports of various chemicals are on a rise, as increased/enhanced capacities are not able to cope up with the increasing demand.
The Indian chemical sector accounts for 13-14% of total exports and 8-9% of total imports of India. Currently, per capita consumption of products of the Indian chemical industry is one-tenth of the world average, which reflects the huge potential for further growth.
GNFC has been the leading manufacturer of Acetic Acid, Formic Acid, Aniline, CNA, Ammonium Nitrate Melt, Ethyl Acetate. GNFC has been the only producer of Toluene Di-Isocyanate (TDI) in whole SAARC region.
Fertilizer Business:
Delayed and poor monsoon in most parts of the country coupled with high imports resulted into very high inventories of phosphatic fertilizers at the end of the year. Import of Urea continued at the normal level and import of MOP was lower compared to previous years due to the high carry forward inventories at the beginning of the year. 8.045 millions MT Urea, 5.702 millions MT DAP, 2.441 millions MT MOP and 0.405 millions MT Complex Fertilizers were imported during the year.
As a step forward towards the Government's initiative to transfer subsidy directly to the farmers, Department of Fertilizers, Government of India (GoI) introduced an incentive of Rs.50/- PMT to retailers who acknowledged receipt of fertilizers in the Mobile based Fertilizers Management System (MFMS) from November, 2012. Release of 5% subsidy on Urea and 10% subsidy on Phosphatic and Potassic (PandK) fertilizers to the industry has also been linked to acknowledgement of receipt of fertilizers by retailers from November, 2012.
The Government, in its endeavor to reduce freight subsidy has restricted the movement of fertilizers by road to 500 Kms. and by rail to 1,400 Kms.
Ammonium Nitrate Rules, 2012 were notified in July, 2012. These Rules will become finally effective from 11th January, 2014. Ammonium Nitrate (AN) Melt and Calcium Ammonium Nitrate (CAN) fertilizer manufactured by the company are under the purview of these Rules. The Company has already initiated the actions for obtaining necessary licenses to continue to market these products. In addition to above, the Company is in the process of developing a lighter version of CAN Fertilizer "CANLite" with 15% Nitrogen, which is in the process of being included in the Fertilizer Control Order so that the Company can produce and sell this fertilizer.
Government appears to have kept on hold its plan to bring Urea under the NBS for the time being.
Due to high international prices of PandK fertilizers, prices of these fertilizers increased substantially during the year. Price of Ammonium Nitro Phosphate (ANP) produced by the Company was also in line with prevailing prices during this period. However, low demand for PandK fertilizers in the international market has forced the prices down. There is a down trend in the international prices of these fertilizers during the current year. This will benefit the farmers by way of lower prices and the Government by way of lower subsidy. Government has notified lower subsidy rates on PandK fertilizers for the current year and also announced lower indicative selling prices for these fertilizers. International prices of important raw material including Rock Phosphate consumed by the Company have reduced. Fertilizer Industry has represented to Department of Fertilizers (DOF) against this move. DOF has sought costing data of PandK Fertilizers from the Industry.
With an exceptionally high level of opening stock of phosphatic fertilizers, new arrivals at lower prices, reduced subsidy rates and lower indicative selling prices, realization on Company's ANP fertilizer is likely to get affected.
IT Business:
The Company's IT business division - (n)Code Solutions, has continued its growth and expansion in the IT Sector during the year 2012-2013. It showed strong financial performance with good growth in profitability based on strong performance of its Digital Signature Certificate (DSC) business, e-Procurement services and e-Governance projects. (n)Code successfully achieved better price realization despite the tough competitive landscape. It remains market leader in the DSC business because of its quality service and support. The year witnessed (n)Code enhancing its reach in the Indian market place, through its engagement with National Informatics Centre in the roll out of several e-governance projects across India. It has also forayed into international business such as PKI implementation project in Africa.
The overall IT market remains challenging with general slowdown and drying up of foreign markets making large Indian IT players to aggressively operate in the domestic market thereby increasing competition. (n)Code has already undertaken several initiatives during the year in new business lines such as Cloud Computing, Technology and E-Governance Solutions and Data Center services to realize high growth in the current and subsequent years and be at the technology forefront.
OUTLOOK:
Business of the Company is being consolidated after implementation of various projects like Weak Nitric Acid-II, Concentrated Nitric Acid-III, 33 MW Co-generation Power and Steam Unit, Ethyl Acetate and Ammonia Syngas Generation plant.
The Company is also planning expansion in the capacities of some of the core products and exploring investment opportunities abroad.
Chemical Business:
Fertilizer Business:
Onset and spread of monsoon is good. Favorable pricing will further help in faster off take of fertilizers. CAN export is also likely to go up.
Raw materials:
PRODUCTION
The Company achieved commendable production performance during the year 2012-13. Most plants of the Company were operated at over 100% capacity utilization. Ammonia Plant produced 5,91,861 MT of Ammonia with capacity utilization of 132.85%, Urea Plant produced 7,08,795 MT of Urea with capacity utilization of 111.29%, Formic Acid Plant produced 20,153 MT of Formic Acid with capacity utilization of 201.53%, Acetic Acid Plant produced 1,57,093 MT of Acetic Acid with capacity utilization of157.09%, Weak Nitric Acid (WNA) Plants produced in aggregate, 3,99,997 MT of WNA with capacity utilization of 115.11%, Ammonium Nitrophosphate Plant (ANP) produced 2,00,895 MT of ANP with capacity utilization of 140.98%, Aniline Plant produced 41,717 MT of Aniline with capacity utilization of 119.19%, Toulene Di-Isocyanate (TDI) Plant produced 17,875 MT of TDI with capacity utilization of 127.68%.
Concentrated Nitric Acid (CNA) plants produced in aggregate 1,08,100 MT of CNA with capacity utilization of 93.19%. Calcium Ammonium Nitrate (CAN) Plant produced 1,06,401 MT of CAN with capacity utilization of 74.67%. Production of CAN was contained to suit the requirement of ANP production/ sale of AN Melt. AN Melt being more remunerative, it was sold directly to the extent possible rather than using the same for producing CAN. Production of WNA and CNA was planned as per the market conditions. Methanol Plants were not operated at their full capacity in view of high cost of production of Methanol coupled with its lower sales realization.
The Government of India encourages production of Neem Coated Urea. During the year, the Company has started production of Neem Coated Urea and has produced 1,00,076 MT of Neem Coated Urea.
FIXED ASSETS:
STATEMENT OF
STANDALONE UNAUDITED RESULTS FOR THE QUARTER ENDED
31ST
DECEMBER, 2013
|
Particulars |
3 Monthsended 30.12.2013 |
Preceding 3 Months 30.09.2013 |
Current period Ended 31.12.2013 |
|
PART
I |
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
Income from
operations |
|
|
|
|
(a) Net Sales / Income from Operations
(Net of excise duty) |
13679.600 |
11947.000 |
35217.100 |
|
(b) Other Operating Income |
0.000 |
0.000 |
0.000 |
|
Total income
from operations (Net) |
13679.600 |
11947.000 |
35217.100 |
|
Expenses |
|
|
|
|
(a) Cost of materials consumed |
8098.400 |
7341.600 |
21149.500 |
|
(b) Purchase of stock-in-trade |
275.300 |
137.900 |
511.800 |
|
(c) Power, fuel and other utilities |
1326.500 |
1327.000 |
3767.400 |
|
(d) Change in inventories of finished goods,
work-in progress and stock-in-trade |
259.700 |
(104.200) |
197.700 |
|
(e) Employee benefits expenses |
728.400 |
668.100 |
2140.700 |
|
(f) Depreciation and amortisation expenses |
346.900 |
369.000 |
1085.400 |
|
(g) Other expenses |
985.100 |
1068.700 |
3099.900 |
|
Total expenses |
12020.300 |
10808.100 |
31952.400 |
|
Profit
from operations before other income, finance costs and exceptional items
(1-2) |
1659.300 |
1138.900 |
3264.700 |
|
Other Income |
126.800 |
140.700 |
357.800 |
|
Profit
from ordinary activities before finance costs and exceptional items (3+4) |
1786.100 |
1279.600 |
3622.500 |
|
Finance costs |
251.100 |
169.100 |
595.800 |
|
Profit
from ordinary activities after finance costs but before exceptional items
(5+6) |
1535.000 |
1110.500 |
3026.700 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
Profit from
ordinary activities before tax (7+8) |
1535.000 |
1110.500 |
3026.700 |
|
Tax expense |
458.600 |
363.800 |
950.300 |
|
Net Profit from
ordinary activities after tax (9-10) |
1076.400 |
746.700 |
2076.400 |
|
Extraordinary Items (Net of tax expenses
Rs. Nil) |
0.000 |
0.000 |
0.000 |
|
Net Profit for
the period (11-12) |
1076.400 |
746.700 |
2076.400 |
|
Paid up equity share capital(Face value of
Rs 10/- per Equity share) |
1554.200 |
1554.200 |
1554.200 |
|
Reserves excluding Revaluation Reserves |
-- |
-- |
-- |
|
Earnings per share (before extraordinary
items) |
|
|
|
|
(of Rs. 10/- each) (not annualised) |
|
|
|
|
(a) Basic (Rs.) |
6.93 |
4.80 |
13.36 |
|
(b) Diluted (Rs.) |
6.93 |
4.80 |
13.36 |
|
Earnings per share (after extraordinary
items) |
|
|
|
|
(of Rs. 10/- each) (not annualised) |
|
|
|
|
(a) Basic (Rs.) |
6.93 |
4.80 |
13.36 |
|
(b) Diluted (Rs.) |
6.93 |
4.80 |
13.36 |
|
PART
II |
|
|
|
|
A PARTICULARS OF
SHAREHOLDING |
|
|
|
|
Public Shareholding * |
|
|
|
|
-
Number of shares |
91294330 |
91294330 |
91294330 |
|
-
Percentage of shareholding |
58.74% |
58.74% |
58.74% |
|
Promoters and Promoter Group Shareholding |
|
|
|
|
a) Pledged / Encumbered |
|
|
|
|
- Number of shares |
-- |
-- |
-- |
|
- Percentage of shares (as a % of the total shareholdingof Promoter
and Promoter Group) |
-- |
-- |
-- |
|
- Percentage of shares (as a % of the total share capitalof the
Company) |
-- |
-- |
-- |
|
b) Non - encumbered |
|
|
|
|
- Number of shares |
64003213 |
64003213 |
64003213 |
|
- Percentage of shares (as a % of the total shareholding |
|
|
|
|
of the Promoter and Promoter Group) |
100.00% |
100.00% |
|
|
- Percentage of shares (as a % of the total share capital |
|
|
|
|
of the Company) |
41.18% |
41.18% |
41.18% |
* Excludes shares held by Custodian against which Depository Receipts
have been issued
|
B INVESTOR
COMPLAINTS |
3 Monthsended 31.12.2013 |
|
Pending at the beginning of the quarter |
0 |
|
Received during the quarter |
351 |
|
Disposed off during the quarter |
351 |
|
Remaining unresolved at the end of the
quarter |
0 |
NOTE:
1. The commercial production for the project of changeover of feedstock from FO / LHS to Natural Gas for the company’s ammonia plant has been declared on 1st October, 2012.
2.
Previous periods' figures have been regrouped
wherever necessary.
3.
A limited review of the above results has been
carried out by the Auditors of the Company.
4.
The above results have been reviewed by the Audit
Committee and approved by the Board of Directors in their meetings held on
27.01.2014.
5.
Revenue for additional subsidy of Rs. 866.000
millions has been recognised in this quarter.
SEGMENTWISE
REVENUE, RESULTS AND CAPITAL EMPLOYED
|
Particulars |
3 Monthsended 30.12.2013 |
Preceding 3 Months 30.09.2013 |
Current period Ended 31.12.2013 |
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
|
1Segment Revenue: |
|
|
|
|
A. Fertilizers |
6889.200 |
6698.700 |
18299.800 |
|
B. Chemicals |
8611.900 |
4970.500 |
16244.400 |
|
C. Others |
178.500 |
277.800 |
672.900 |
|
Total |
13679.600 |
11947.000 |
35217.100 |
|
Less: Inter Segment Revenue |
0.000 |
0.000 |
0.000 |
|
Net Sales /
Income from Operations |
13679.500 |
11947.000 |
35217.100 |
|
|
|
|
|
|
2Segment
Results: |
|
|
|
|
{Profit before Tax & Finance Cost from
each segment} |
|
|
|
|
A. Fertilizers |
800.400 |
306.900 |
1009.600 |
|
B. Chemicals |
873.300 |
781.400 |
2223.600 |
|
C. Others |
17.600 |
90.300 |
151.700 |
|
Total |
|
|
|
|
Less: (i)
Finance Cost |
251.100 |
169.100 |
595.800 |
|
(ii) Other Unallocable Expenditure |
31.400 |
43.100 |
123.400 |
|
(iii) Unallocable Income |
(126.200) |
(144.100) |
(361.000) |
|
Total Profit
Before Tax |
1535.000 |
1110.500 |
3026.700 |
|
|
|
|
|
|
3 Capital
Employed: |
|
|
|
|
(Segment Assets - Segment Liabilities) |
|
|
|
|
A. Fertilizers |
26764.900 |
23166.200 |
26764.900 |
|
B. Chemicals |
29723.700 |
28571.600 |
29723.700 |
|
C. Others |
487.800 |
465.800 |
487.800 |
|
D. Unallocated assets / (liabilities)
(net) |
(27730.600) |
(24034.200) |
(27730.600) |
|
Total |
29245.800 |
28169.400 |
29245.800 |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No 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.61.86 |
|
|
1 |
Rs.103.52 |
|
Euro |
1 |
Rs.85.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
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 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
69 |
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.