Summary Information
|
|
|
Country |
India |
|
Company Name |
NAGARJUNA AGRICHEM LIMITED |
Principal Name 1 |
Dr. Nitish K. Sen Gupta |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. V. Vijay
Shankar |
|
|
|
Registration # |
01-016607 |
|
Street Address |
Plot No. 12-A, C Block, Lakshmi Towers, No. 8-2-248/1/7/78, Nagarjuna
Hills, Panjagutta, Hyderabad-500082, Andhra Pradesh, India |
||
|
Established Date |
11.11.1986 |
SIC Code |
-- |
|
Telephone# |
91-40-23358217 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-40-23350234 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Insecticides |
|
|
# of employees |
1072 (Approximately) |
Product Name 2 |
pesticides |
|
Paid up capital |
Rs.
155,912,000
/- |
Product Name 3 |
acaricides |
|
Shareholders |
Promoter and
Promoter Group - 74.81% Public - 25.19% |
Banking |
State Bank of India |
|
Public Limited Corp. |
Yes |
Business Period |
28 Years |
|
IPO |
Yes |
International Ins. |
- |
|
Public |
Yes |
Rating |
Ba
(43) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding Company |
-- |
KLR Products Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
2388,663,000 |
Current Liabilities |
1733,580,000 |
|
Inventories |
1726,144,000 |
Long-term Liabilities |
1545,156,000 |
|
Fixed Assets |
1721,484,000 |
Other Liabilities |
797,381,000 |
|
Deferred Assets |
000 |
Total Liabilities |
4,076,117,000 |
|
Invest& other Assets |
186,839,000 |
Retained Earnings |
1,798,031,000 |
|
|
|
Net Worth |
1,947.013,000 |
|
Total Assets |
6,023.130,000 |
Total Liab. & Equity |
6,023.130,000 |
|
Total Assets (Previous Year) |
6,308,144,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Sales |
6,144,364,000 |
Net Profit |
(126,660,000) |
|
Sales(Previous yr) |
6,430,650,000 |
Net Profit(Prev.yr) |
73,117,000 |
MIRA
INFORM REPORT
|
Report Date : |
07.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
NAGARJUNA AGRICHEM LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 12-A, C Block, Lakshmi Towers, No. 8-2-248/1/7/78, Nagarjuna Hills,
Panjagutta, Hyderabad-500082, Andhra Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
11.11.1986 |
|
|
|
|
Com. Reg. No.: |
01-016607 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 155.912 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24219AP1986PLC016607 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDN00523F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN6932H |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Share are Listed on
the Stock Exchange. |
|
|
|
|
Line of Business
: |
The Company is in the business of Crop Protection and manufactures both
Technical (Active Ingredient -AI) and Formulations. It manufactures all kinds
of pesticides, insecticides, acaricides, herbicides, fungicides and
other plant growth chemicals |
|
|
|
|
No. of Employees
: |
1072 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 7700000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The company has incurred loss from its operational activities during
the financial year 2013. However, the rating reflects established position of company in
pesticide business marked by diversified products range catering to both the
domestic and international market and sound general financial profile. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered for 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.
ECGC Country Risk Classification List – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The 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 |
CARE |
|
Rating |
Long Term Bank
Facilities: BBB |
|
Rating Explanation |
Moderate degree of safety
and moderate credit risk. |
|
Date |
06.02.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank
Facilities: A3 |
|
Rating Explanation |
Moderate degree of
safety and high credit risk. |
|
Date |
06.02.2014 |
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.
LOCATIONS
|
Registered / Corporate Office : |
Plot No. 12-A, C Block, Lakshmi Towers, No. 8-2-248/1/7/78, Nagarjuna
Hills, Panjagutta, Hyderabad-500082, Andhra Pradesh, India |
|
Tel. No.: |
91-40-23358217/ 23350235/ 23357442/ 33605123/24/25/26/27 |
|
Fax No.: |
91-40-23350234/ 23358062 |
|
E-Mail : |
aspardhasaradhi@nagarjunagroup.com jagannadharao@nagarjunaagrichem.com (for overseas requirement) manikkam.natarajan@nagarjunaagrichem.com (for domestic requirement) |
|
Website : |
|
|
|
|
|
Factory 1 / R&D Centre : |
Shadnagar, Nandigaon Village, Kothur Mandal, Mahaboobnagar, Andhra Pradesh, India |
|
Tel. No.: |
91-8548-240010 / 240483 |
|
|
|
|
Factory 2 : |
Arinama Akkivalasa Etcherla Mandal Srikakulam, Andhra Pradesh, India |
|
|
|
|
Factory 3 : |
Ethakota P.O, Ravulapalem East Godavari District Andhra Pradesh, India |
|
|
|
|
Windmill : |
Located at · Tirunelveli, Tamilnadu, India |
DIRECTORS
As on 31.03.2013
|
Name : |
Dr. Nitish K. Sen Gupta |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. V. Vijay
Shankar |
|
Designation : |
Managing Director
|
|
Date of Birth/ Age: |
17.11.1956 |
|
Qualifications : |
Chartered Accountant |
|
Experience: |
31 Years |
|
Date of
Commencement of employment: |
11.05.2011 |
|
Details of last employment: |
Zuari Industries Limited |
|
|
|
|
Name : |
Mr. K. S. Raju |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. K. Lakshmi Raju |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. K. Rahul Raju |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. D. Ranga Raju |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. K Rghu Raman |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Sudhakar
Kudva |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. N.
Vijayaraghavan |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Amit Taparia |
|
Designation : |
Senior General Manager [Procurement and SCM] |
|
|
|
|
Name : |
Mr. R.K.S. Prasad |
|
Designation : |
Chief Finance Officer |
|
|
|
|
Name : |
Mr. Manikkam Natarajan |
|
Designation : |
Vice President [Marketing and Sales] |
|
|
|
|
Name : |
Mr. G. Jagannadha Rao |
|
Designation : |
Vice President [Exports] |
|
|
|
|
Name : |
Mr. Harish Chandra Bijilwan |
|
Designation : |
Senior General Manager [Business Tech and Outsourcing] |
|
|
|
|
Name : |
Mr. S.V.S. Rama Raju |
|
Designation : |
President [Operations] |
|
|
|
|
Name : |
J.Satyanarayana Das |
|
Designation : |
Vice President - Manufacturing (Ethakota) |
|
|
|
|
Name : |
S.Chandra Sekhar |
|
Designation : |
Vice President - Corporate HPD |
|
|
|
|
Name : |
Satish Kumar Subudhi |
|
Designation : |
Company Secretary and Head-Legal |
|
|
|
|
Name : |
Dr. Venkatesan Subbusamy |
|
Designation : |
General Manager - Registration & Regulatory |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2013
|
Category
of Shareholder |
Total
No. of Shares |
Total
Shareholding as a % of Total No. of Shares |
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
3018360 |
1.94 |
|
|
113623500 |
72.88 |
|
|
116641860 |
74.81 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
116641860 |
74.81 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
8013300 |
5.14 |
|
|
|
|
|
|
13698110 |
8.79 |
|
|
16846350 |
10.81 |
|
|
711888 |
0.46 |
|
|
557819 |
0.36 |
|
|
136536 |
0.09 |
|
|
17533 |
0.01 |
|
|
39269648 |
25.19 |
|
Total Public
shareholding (B) |
39269648 |
25.19 |
|
Total (A)+(B) |
155911508 |
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) |
155911508 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is in the business of Crop Protection and manufactures
both Technical (Active Ingredient -AI) and Formulations. It manufactures all
kinds of pesticides, insecticides, acaricides, herbicides, fungicides and
other plant growth chemicals |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
1072 (Approximately) |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· State Bank of India · HDFC Bank Limited · IDBI Bank Limited ·
New India Co-operative Bank Limited |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
Notes : Long Term
Borrowing a) The Term Loans (except term loan for Wind energy project) availed
from IDBI Bank Limited and HDFC Bank Limited are secured by way of equitable
mortgage by deposit of title deeds of the Company’s immovable properties both
present and future and by way of first charge of all fixed assets
of the Company as a primary security and hypothecation of movable properties
of the Company ranking pari passu and borrowings from IDBI Bank Ltd are
further secured by a second charge on the current assets of the Company consisting
of stock in trade, book debts, stores and spares. b) Term Loan availed from State Bank of India for Wind power project
is secured by way of mortgage by deposit of title deeds of the project’s
immovable properties and by way of first charge of all project fixed
assets as a primary security. c) Working Capital Term Loans availed from New India Co-operative Bank
Ltd are secured by way of first charge on Company’s fixed assets
including other movable assets on pari passu basis. d) Working capital loans from banks are personally guaranteed by Sri
K.S. Raju, a Director of the Company. e) Terms of repayments are given below:
Short Term
Borrowing: Cash Credits, Working Capital Demand Loan including Non Fund Based
Limits of Letters of Credit and Bank Guarantees from State Bank of India,
IDBI Bank Limited and HDFC Bank Limited and Corporate Loan availed from State
Bank of India are secured by way of hypothecation of current assets
comprising of stock in trade, book debts and stores and spares, both present
and future. The aforesaid facilities are further secured by second charge of
the Company’s immovable and hypothecation of movable properties, both present
and future, ranking pari passu with the term loans. |
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
M. Bhaskara Rao and Company Chartered Accountants |
|
Address : |
5-D, Kautilya, Somajiguda, Hyderabad – 500082, Andhra Pradesh, India |
|
|
|
|
Cost Auditors: |
|
|
Name : |
K. Narasimha Murthy and Company Cost Accountants |
|
Address : |
3-6-365, 104 & 105, Pavani Estate, Himayathnagar, Hyderabad - 500029, Andhra Pradesh, India |
|
|
|
|
Holding Company: |
KLR Products Limited (Formerly GSR Products Limited) |
|
|
|
|
Subsidiaries :: |
·
Nagarjuna Agrichem (Australia) Pty. Limited,
Australia ·
LR Research Laboratories Private Limited |
|
|
|
|
Associates : |
·
Indo International Fertilizers Limited ·
Nagarjuna Fertilizers and Chemicals Limited ·
Bhagiradha Chemicals and Industries Limited ·
Nasense Labs Private Limited (Formerly USP
Organics Private Limited) |
CAPITAL STRUCTURE
After 07.08.2013
Authorised Capital: Rs. 200.000 millions
Issued, Subscribed & Paid-up Capital: Rs. 155.912 millions
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14898157 |
Equity Shares |
Rs.10/- each |
Rs.148.982 Millions |
|
|
|
|
|
Rights, Preferences and Restrictions attached to Equity Shares
The Company has only one class of Equity
Shares having a par value of Rs.1/- per share. Each holder of Equity Shares is
entitled to one vote per share.
In the event of liquidation of the Company,
the holders of Equity Shares will be entitled to receive remaining assets of
the Company, after distribution of all preferential amounts. The distribution
will be in proportion to the number of Equity Shares held by the shareholders.
Shares in the Company held by each Shareholders holding more than 5%.
|
Name of the Shareholders |
% of Share Holding |
31st March 2013 |
% of Share Holding |
31st March 2012 |
||
|
No. of shares |
Rs. In millions |
No. of shares |
Rs. In millions |
|||
|
|
|
|
|
|
|
|
|
KLR Products Limited, Holding Company |
76.27 |
113623500 |
113.624 |
76.27 |
11362350 |
113.624 |
|
|
|
|
|
|
|
|
Pursuant to the approval of the Shareholders
in the last AGM held on 26th September, 2012, the face value of the Equity Shares
of the Company has duly sub-divided from Rs.10/- each to Rs.1/- each and the
same were commenced trading on Bombay Stock Exchange effective from 22nd
November, 2012.
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 |
148.982 |
148.982 |
148.982 |
|
(b) Reserves & Surplus |
1,798.031 |
1,924.691 |
1877.548 |
|
(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) |
1,947.013 |
2,073.673 |
2,026.530 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
330.690 |
457.560 |
694.017 |
|
(b) Deferred tax liabilities
(Net) |
215.131 |
287.800 |
247.034 |
|
(c) Other long term
liabilities |
106.136 |
105.891 |
111.159 |
|
(d) long-term provisions |
10.442 |
6.816 |
2.818 |
|
Total
Non-current Liabilities (3) |
662.399 |
858.067 |
1055.028 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1,214.466 |
1,502.975 |
1013.546 |
|
(b) Trade payables |
1,715.863 |
1,371.534 |
868.581 |
|
(c) Other current liabilities |
476.114 |
471.056 |
545.034 |
|
(d) Short-term provisions |
7.275 |
30.839 |
7.774 |
|
Total
Current Liabilities (4) |
3,413.718 |
3,376.404 |
2,434.935 |
|
|
|
|
|
|
TOTAL |
6,023.130 |
6,308.144 |
5,516.493 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1,705.090 |
1,914.038 |
2074.089 |
|
(ii) Intangible Assets |
16.394 |
2.526 |
3.981 |
|
(iii) Capital work-in-progress |
151.234 |
161.204 |
65.828 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
35.605 |
35.605 |
0.505 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
136.278 |
166.494 |
117.478 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
2,044.601 |
2,279.867 |
2,261.881 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1,726.144 |
1,642.002 |
1457.503 |
|
(c) Trade receivables |
1,664.376 |
1,948.596 |
1368.024 |
|
(d) Cash and cash equivalents |
224.122 |
250.739 |
234.593 |
|
(e) Short-term loans and advances |
168.200 |
182.473 |
192.793 |
|
(f) Other current assets |
195.687 |
4.467 |
1.699 |
|
Total
Current Assets |
3,978.529 |
4,028.277 |
3,254.612 |
|
|
|
|
|
|
TOTAL |
6,023.130 |
6,308.144 |
5,516.493 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
6,144.364 |
6,430.650 |
5700.839 |
|
|
Other Income |
78.470 |
38.607 |
52.697 |
|
|
TOTAL
(A) |
6,222.834 |
6,469.257 |
5,753.536 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
3,912.788 |
4,168.440 |
3317.205 |
|
|
Purchases of Stock-in-Trade |
543.861 |
464.325 |
371.672 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
23.810 |
(303.480) |
400.665 |
|
|
Employees benefits expense |
397.115 |
346.332 |
816.487 |
|
|
Other expenses |
967.574 |
1,049.312 |
262.818 |
|
|
TOTAL
(B) |
5,845.148 |
5,724.929 |
5,168.847 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
377.686 |
744.328 |
584.689 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
324.163 |
332.332 |
259.52 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
53.523 |
411.996 |
325.169 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
252.852 |
269.574 |
230.526 |
|
|
|
|
|
|
|
Less |
EXCEPTIONAL ITEMS |
0.000 |
0.000 |
30.303 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(199.329) |
142.422 |
64.340 |
|
|
|
|
|
|
|
Less |
TAX |
(72.669) |
69.305 |
33.551 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(126.660) |
73.117 |
30.789 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1,480.313 |
1,437.169 |
1436.025 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
0.000 |
4.000 |
3.500 |
|
|
Interim Dividend |
0.000 |
25.973 |
26.145 |
|
|
Total
(M) |
0.000 |
29.973 |
29.645 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S (J+K+L-M) |
1,353.653 |
1,480.313 |
1,437.169 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1,200.929 |
1,968.607 |
1535.106 |
|
|
TOTAL
EARNINGS |
1,200.929 |
1,968.607 |
1,535.106 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
1,126.412 |
1,364.005 |
1198.195 |
|
|
Capital Goods |
1.429 |
19.904 |
2.058 |
|
|
TOTAL
IMPORTS |
1,127.841 |
1,383.909 |
1,200.253 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(0.85) |
4.91 |
2.07 |
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2013 |
30.09.2013 |
31.12.2013 |
|
|
1st Quarter |
2nd Quarter |
3rd Quarter |
|
Net Sales |
1555.300 |
2132.200 |
1525.800 |
|
Total Expenditure |
1520.100 |
1998.500 |
1475.400 |
|
PBIDT (Excl OI) |
35.200 |
133.700 |
50.400 |
|
Other Income |
7.000 |
20.400 |
9.300 |
|
Operating Profit |
42.200 |
154.100 |
59.700 |
|
Interest |
85.700 |
77.700 |
63.600 |
|
Exceptional Items |
0.000 |
(33.000) |
0.000 |
|
PBDT |
(43.500) |
43.400 |
(3.900) |
|
Depreciation |
62.900 |
62.100 |
58.500 |
|
Profit Before Tax |
(106.400) |
(18.700) |
(62.400) |
|
Tax |
(12.200) |
(27.700) |
(7.400) |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
(94.200) |
9.000 |
(55.000) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(2.04) |
1.13
|
0.54
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(3.24) |
2.21
|
1.13
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.42)
|
2.33
|
1.18
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.10) |
0.07
|
0.03
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.84
|
0.95
|
0.79
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17
|
1.19
|
1.34
|
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 |
148.982 |
148.982 |
148.982 |
|
Reserves & Surplus |
1877.548 |
1,924.690 |
1,798.031 |
|
Net
worth |
2,026.530 |
2,073.673 |
1,947.013 |
|
|
|
|
|
|
long-term borrowings |
694.017 |
457.560 |
330.690 |
|
Short term borrowings |
1013.546 |
1,502.980 |
1,214.470 |
|
Total
borrowings |
1,707.563 |
1,960.535 |
1,545.156 |
|
Debt/Equity
ratio |
0.843 |
0.945 |
0.794 |
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) |
|
Income |
5700.839 |
6,430.650 |
6,144.360 |
|
|
|
12.802 |
(4.452) |
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 |
5700.839 |
6,430.650 |
6,144.360 |
|
Profit |
30.789 |
73.117 |
(126.660) |
|
|
0.54% |
1.14% |
(2.06%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by
Info Agents |
Available in Report (Yes / No) |
|
1] |
Year of
Establishment |
Yes |
|
2] |
Locality of
the firm |
Yes |
|
3] |
Constitutions
of the firm |
Yes |
|
4] |
Premises
details |
No |
|
5] |
Type of
Business |
Yes |
|
6] |
Line of
Business |
Yes |
|
7] |
Promoter's
background |
Yes |
|
8] |
No. of
employees |
Yes |
|
9] |
Name of
person contacted |
No |
|
10] |
Designation
of contact person |
No |
|
11] |
Turnover of
firm for last three years |
Yes |
|
12] |
Profitability
for last three years |
Yes |
|
13] |
Reasons for
variation <> 20% |
---- |
|
14] |
Estimation
for coming financial year |
Yes |
|
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 |
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 |
LITIGATION DETAILS
CASE STATUS INFORMATION
CEA 209 / 2011 CEASR
762 / 2010 CASE
IS: PENDING
|
PETITIONER THE COMMISSIONER OF CENTRAL EXCISE AND
CUSTOMS, VISAKHAPATNAM |
RESPONDENT VS NAGARJUNA AGRICHEM LIMITED |
|||
|
PET. ADV.: |
GOPALAKRISHNA GOKHALEY |
Resp. Adv.: |
PRABHAKARA SASTRY |
|
|
Subject: |
CENTRAL EXSICE APPEAL |
District : |
VISAKHAPATNAM |
|
|
Filing Date : |
02.03.2010 |
Posting Stage: FOR ADMISSION |
|
|
|
Registration date : |
27.12.2011 |
Listing Date: 02.11.2012 |
Status: ADMIT |
|
|
Honorable Judges: |
M.S. RAMCHANDRA RAO |
GODA RAGHURAM |
||
UNSECURED LOANS
|
Particulars |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long Term Borrowings |
|
|
|
Deferred Payment Liabilities |
32.027 |
37.983 |
|
Total |
32.027 |
37.983 |
Deferred Payment Liabilities.
i) Sales Tax Deferment: Vide order
No.10/1/5/0564/0696 dated 26th April, 1995 the Government of Andhra Pradesh had
sanctioned Sales Tax Deferment to the Company in respect of Monocrotophos for a
period of ten years commencing from 1.7.1994; subject to a maximum of
Rs.133.027 Million. Based on the Sales Tax Returns, the sales tax so deferred
aggregates net of repayments to Rs.7.821 Million. (Previous Year Rs. 14.799
Million). The repayment of deferred Sales Tax has commenced from July, 2004 as
prescribed in the said order.
ii) Further vide Revised Order
No.10/1/9/0023/0387/ID, dated 31.01.2001, the Government of Andhra Pradesh had
sanctioned Sales Tax Deferment to the Company in respect of Acephate and
Profenofos for a period of fourteen years commencing from 28.09.1997 for
Acephate and from 23.02.2000 for Profenofos, subject to a maximum of Rs.102.855
Million. The Sales Tax deferred in a year is payable at the end of 14th year
without interest. First payment will commence from 25.09.2013 as prescribed in
the order. Since financial year 2006-07, the Company has decided not to
avail the Sales Tax deferment and opted to pay the sales tax henceforth. Based
on the Sales Tax Returns, the sales tax so deferred aggregates to Rs.30.162
Million. (Previous Year Rs.30.162 Million).
CORPORATE INFORMATION
Subject is a Public Limited Company listed with
Bombay Stock Exchange. It is part of the Nagarjuna Group based at Hyderabad.
The Company is in the business of Crop Protection and manufactures both
Technicals (Active Ingredient -AI) and Formulations. It manufactures all kinds
of pesticides, insecticides, acaricides, herbicides, fungicides and other plant
growth chemicals. The Company’s Formulation Business is mainly in the Indian
Market and sells through its large retail dealer network of nearly 13000
dealers, spread across India. The Company has an impressive range of branded
Formulations. It also exports Technicals and Formulations and does Toll
manufacture for various Multinational Companies.
PERFORMANCE:
The major fire incident in June 2012 and
the subsequent closure of the Srikakulam plant had a dampening effect on the
performance of the company. The Company has reported annual sales revenue of
Rs.61.444 Million for the year 2012-13, as against Rs.6430.700 Million recorded
in 2011-12. Despite the closure of the Srikakulam plant, the Company has been
able to achieve turnover close to that of the previous year. This has been
mainly due to the growth in domestic sales. The Operating Profit and Cash
Profit stood at Rs 124.800 Million and Rs 53.500 Million during the year,
compared to Rs 474.700 Million and Rs 412.100 Million respectively in the
previous year
PLANT OPERATIONS:
The unfortunate fire incident occurred
in the Company’s Srikakulam Technical Plant in the month of June, 2012, it has
resumed its operation after closure of approximately 5 months, effective from
November 26, 2012, as per terms of the statutory approvals/ permissions
accorded for manufacture a few products in few of the Blocks. The plant has
taken various initiatives and additional safety measures as per the regulatory
requirement, to prevent any such untoward events in future. The operations in
the other Blocks, except the affected Block and in other Products, were also
resumed as soon as their approvals are received. Given the above, the plant
could achieve the annual production of 2129 MT/KL during the year under review
as against5309
MT/KL in the previous year.
The Company has started work on rebuilding
Block 5 and has lodged claim with the Insurance Company. The Ethakota plant has
been able to meet the increased demand of domestic markets. It has achieved a
record production of 22327 MT/KL in the year, comparing to the previous year
production of 12514 MT/KL. The continued focus on streamlining the production
facilities, debottlenecking, quality control and enhanced productivity has
yielded the desired results. However, rising input costs, erratic and irregular
power supply from Electricity Board, manpower issues etc. continue to be causes
of concerns. The operations in the Formulation unit in Shadnagar were suspended
in the year, as focus in the location is on the R&D Unit.
DOMESTIC & EXPORT MARKETS:
The monsoon was delayed last year and the
rainfall was below normal, particularly in the key months of June and July,
2012 triggering drought in some parts of the country. This affected sowing
particularly in Paddy and resulted in a lower growth rate of agriculture and
allied sectors. Despite challenging market environment, the Company could
achieve the record domestic sales of Rs.4070.000 Millions as against
Rs.3160.000 Millions in the previous year recording a growth of 29%. This
growth is mainly attributable to various policy decisions taken by the Company
coupled with the production support of Ethakota Formulation Plant and various
newer supply chain initiatives. Exports have been significantly affected
due to the closure of Srikakulam Plant for about 5 months and the
incapacitation of Block 5 which was affected by the Fire, during the year.
Block 5 is the largest Block in the plant and contributes to around 40% of the
total capacity. The sales has accordingly decreased to Rs.1283.500 Millions in
the year under review from Rs. 2080.400 Millions in the previous year. However,
the Export customers have been understanding and co-operative during the
period.
WINDMILLS:
The company has 3 Windmills having a total
capacity of 6.3 MW, located near Tirunelveli in Tamilnadu State. The operations
of these are managed by M/s Suzlon Limited and the performance of the Windmills
for the year was satisfactory. During the year, there are delays in getting the
receivables from TNEB, who purchase the entire power generated as per the terms
of the PPA. However, as per the Court directives, interest is being paid for
the delayed payments.
INDUSTRY OVERVIEW:
The Agrochemical Industry has a significant
influence on the Indian economy, given the need for ensuring food
security for 120000.000 Million population.
In the backdrop of water shortage, stagnant acreages of cultivable land and
other factors, improvement in yield and output of the farm produce is of
paramount importance. In this context, Agrochemicals plays a vital role in
ensuring higher productivity of the farm produce by controlling pests, weeds
etc. The Agrochemical sector has been growing in India by 8 to 10% annually and
around 5 to 6 % globally. India is one of the largest consumers of
Agrochemicals. However, it’s per acre consumption is amongst the lowest. The
growth is also driven by increasing awareness about the affirmative
impact of Agrochemicals on the agri-produce, need for crop protections, deficiency
of farm labor and other related / ancillary factors.
With a domestic market size of around 120000.000 Million
aided with expected growth of Rs.10%
per annum, the Indian Agrochemical Industry is poised to take the challenge of
meeting the growing demand and also extends a huge growth potential for foreign
investment.
The various kinds of Agrochemicals in India
are Fungicides, Herbicides, Bio-pesticides, Nematocides, Rodenticides and
Fumigants, and the producers are broadly divided into technical agrochemicals -
the bulk actives and formulators who compound actives in forms that enable use.
The industry is highly fragmented at both levels, with around 125 technical
producers and more than 800 formulators, serving millions farmers through a
thousands of dealers / distributors. Many technical producers are
forward-integrated into formulations
The share of insecticides in the total
agrochemical pie has decreased and herbicides & fungicides have become more
important. Indeed, these two segments are the fastest growing, reflecting
both a shortage of labour to do manual weeding and the emergence of new
infestations. The states of Andhra Pradesh, Maharashtra, Punjab and Gujarat
account for little more than half the total consumption, but the market has
clearly become more diversified and evenly spread than was the case a few
years ago.
Producers face many challenges in the domestic
market, which is seasonal, regional and fluctuating. As much as 60 to 70%
of demand is in the Kharif (June to November) and Companies have to stock
inventories well before. The business is long on credit and agrochemicals are
the last thing farmers buy, well after seeds and fertilizers and off take
depend on a lot of things, including the weather going right.
The apex industry body Assocham said growing
at a Compound Annual Growth Rate (CAGR) of about 15%, the agrochemicals sector
in India is likely to Millions Rs.25000.000 Million mark by 2015. Currently the
Indian agrochemicals market is poised at over Rs. 16000.000 Millions, according
to a study.
At the global level, generics continue to grow
and new patented products are far and few. Toll manufacturing is an important
segment in Active Ingredients (AI), where the company has a presence. Many leading
MNCs are getting their Technical manufactured in countries like India on Toll
basis in view of the cost advantage that it offers. Tolling as a business is
expected to grow as products come out of the patent protection periods.
OUTLOOK:
With the firming up and streamlining the
Technical Plant operations at Srikakulam, the export segment is quite positive.
Similarly, with the robust domestic market performance during the year under
review coupled with normal monsoon forecast, the prospects for domestic
operations too look bright. The Company’s increased efforts in implementing
various strategies as well as improving the efficiency and productivity
of manufacturing facilities shall augur well for the Company.
UNAUDITED FINANCIAL RESULTS
FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER, 2013
(Rs. In millions)
|
PARTICULARS |
Quarter Ended 31.03.2013 |
Quarter Ended 30.09.2013 |
Nine Month Ended 31.12.2013 |
|
PART - I |
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
Income from Operations |
|
|
|
|
Net sales / income from
operations (Net of excise duty) |
1521.800 |
2130.400 |
5203.300 |
|
Other Operating Income |
4.000 |
2.500 |
10.000 |
|
Total income from operations (net) |
1525.800 |
2132.900 |
5213.300 |
|
|
|
|
|
|
Expenses |
|
|
|
|
Cost of Materials Consumed |
951.400 |
1356.400 |
3380.200 |
|
Purchases of Stock in Trade |
150.200 |
200.700 |
469.400 |
|
Changes in inventories of finished goods, WIP and
Stock-in-trade |
(64.700) |
12.800 |
(78.700) |
|
Employee Benefit Expenses |
100.900 |
104.200 |
307.600 |
|
Depreciation and Amortisation expenses |
58.500 |
62.100 |
183.500 |
|
Other Expenses |
337.600 |
324.800 |
915.500 |
|
Total Expenses |
1533.900 |
2061.000 |
5177.500 |
|
Profit / (Loss) from
Operations before other Income and Financial Costs and Exceptional Items |
(8.100) |
71.900 |
35.800 |
|
Other Income |
9.300 |
20.400 |
36.700 |
|
Profit / (Loss) from
Ordinary Activities before Finance Costs and Exceptional Items |
1.200 |
92.300 |
72.500 |
|
Finance Costs |
63.600 |
78.000 |
227.000 |
|
Profit / (Loss) from
Ordinary Activities After Finance Costs and Exceptional Items |
(62.400) |
14.300 |
(154.500) |
|
Exceptional items |
- |
33.000 |
33.000 |
|
Profit/(Loss) from ordinary activities before tax |
(62.400) |
(18.700) |
(187.500) |
|
Tax expense |
(7.400) |
(27.700) |
(47.300) |
|
Net Profit/(Loss) from ordinary activities after tax |
(55.000) |
(9.000) |
(140.200) |
|
Extraordinary items |
- |
- |
- |
|
Net Profit / (Loss) for
the period |
(55.000) |
(9.000) |
(140.200) |
|
Paid-up equity share capital (Face value Rs. 1.00 per share) |
155.900 |
155.900 |
155.900 |
|
Reserves excluding Revaluation Reserve as per balance sheet of previous accounting year |
- |
- |
- |
|
Earnings Per Share (EPS) (Face value of Rs. 1.00 per share) |
(0.35) |
(0.06) |
(0.90) |
|
a) Basic and Diluted EPS before extraordinary items |
(0.35) |
(0.06) |
(0.90) |
|
PART - II |
|
|
|
|
PARTICULARS OF SHARE HOLDING |
|
|
|
|
Public Shareholding |
|
|
|
|
– Number of shares |
39269648 |
39269648 |
39269648 |
|
– Percentage of shareholding |
25.19% |
25.19% |
25.19% |
|
Promoters and Promoter Group Shareholding |
|
|
|
|
a) Pledged/ Encumbered |
|
|
|
|
- Number of shares |
-- |
-- |
-- |
|
- Percentage of shares (as a % of the total hareholding of promoter and promoter group) |
-- |
-- |
-- |
|
- Percentage of shares (as a % of the total share capital of the company) |
-- |
-- |
-- |
|
|
|
|
|
|
b) Non encumbered |
|
|
|
|
- Number of shares |
116641860 |
116641860 |
116641860 |
|
- Percentage of shares (as a % of the total shareholding of promoter and promoter group) |
100.00% |
100.00% |
100.00% |
|
- Percentage of shares (as a % of the total share capital of the company) |
74.81% |
74.81% |
74.81% |
|
Particulars |
Quarter Ended
31.03.2013 |
|
INVESTOR
COMPLAINTS (Nos.) |
|
|
Pending at the beginning |
Nil |
|
Received during the quarter |
5 |
|
Disposed of during the quarter |
5 |
|
Remaining unresolved at the end of the
quarter |
Nil |
Note
1 The above unaudited stand alone Financial Results were reviewed by the
Audit Committee and approved by the Board of Directors on 08th
February. 2014.
2 The Statutory
Auditors have carried out the Limited Review as required under clause 41 of the
Listing Agreement.
3 The Company's Business is seasonal in nature
and the performance can be impacted by weather conditions.
4 The Company is primarily engaged in the Farm Inputs Business, which in
the context of Accounting Standard-17 is considered the only significant
business segment.
5 The reconstruction work of Blocked in
Srikakulam is nearing completion and is expected to start operations by end
February'l4. The delay in recommissioning has been mainly due to disturbances
in the State and also due to the impact of the cyclones, which resulted in
disruption of movement of material and availability of manpower.
The insurance claim is being processed by the Insurance Company and
necessary adjustments in the accounts and the financial impact if any will be
accounted upon its finalization.
6 The Company has
opted to submit quarterly financial result on Stand alone basis. The Company's
two subsidiary companies are yet to commence the operations.
7 Tax Expense includes current tax and
deferred tax
8 Comparative figures have been re-grouped and recast wherever
considered necessary, to make them comparable
COMMITMENTS/ CONTINGENT LIABILITIES
|
Particular |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Commitments/ Contingent Liabilities |
|
|
|
Letters of Credit |
411.962 |
645.855 |
|
Counter Guarantees * |
45.109 |
22.220 |
|
Claims against the Company not acknowledged as debts in respect of |
|
|
|
Excise Duty, Service Tax Demands – Company
has appealed against orders raised the demands |
2.796 |
2.483 |
|
Income Tax Demands – Company has appealed
against orders raised the demands. (Net of payments made under protest) |
- |
7.321 |
|
Estimated amount of contracts, remaining to
be executed on Capital account and not provided for (net of advance) |
89.959 |
98.209 |
|
Others |
24.471 |
25.078 |
INDEX OF CHARGE:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10436251 |
21/06/2013 |
50,000,000.00 |
New India
Co-operative Bank Limited |
New India
Bhavan, Anant Vishram, Nagwekar Marg, Babsaheb Worlikar Chowk,Prabhadevi,, Mumbai,
Mahara |
B79363230 |
|
2 |
10355346 |
02/05/2012 |
100,000,000.00 |
NEW INDIA
CO-OPERATIVE BANK LTD. |
New India
Bhavan, Anant Vishram, Nagvekar Marg, Prabhadevi,, Mumbai, Maharashtra -
400025, INDIA |
B39516307 |
|
3 |
10210960 |
25/03/2010 |
240,000,000.00 |
NEW INDIA
CO-OPERATIVE BANK LTD. |
New India
Bhavan, Anant Vishram, Nagvekar Marg, Prabhadevi,, Mumbai, Maharashtra -
400025, INDIA |
A82559527 |
|
4 |
10180224 |
13/02/2010 * |
300,000,000.00 |
IDBI BANK LTD |
5-9-89/1, II
FLOOR, CHAPEL ROAD, ABIDS, HYDERABAD |
A79279113 |
|
5 |
10097551 |
27/09/2013 * |
1,250,000,000.00 |
STATE BANK OF
INDIA |
CAG Branch, 13039,
O Zone, 2nd Floor,, 6-3-669, Punjagutta Main Road, Hyderabad, Andhra Pradesh
- 5 |
B89730998 |
|
6 |
10023769 |
20/09/2012 * |
600,000,000.00 |
IDBI Bank
Limited |
IDBI TOWERWTC
COMPLEX, CUFFE PARADE, MUMBAI, Maharashtra - 400005, INDIA |
B59848135 |
|
7 |
90263199 |
29/01/2010 * |
1,130,000,000.00 |
STATE BANK OF
INDIA |
CAG
BRANCH-13039, O ZONE, 2nd FLOOR, #6-3-669, PU |
A78863917 |
|
8 |
90262527 |
15/04/2013 * |
450,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B74405762 |
|
9 |
90262175 |
16/07/2002 |
15,000,000.00 |
ICICI BANK
LIMITED |
TGV MANSION; 6-02-1012,
KHAIRATBAD, HYDERABAD, Andhra Pradesh, INDIA |
- |
|
10 |
90261984 |
04/04/2001 * |
204,000,000.00 |
BANK OF BARODA |
INDUSTRIAL
FINANCE BRANCH, BASHEERBAGH, HYDERABAD |
- |
|
11 |
90261435 |
10/12/1996 |
35,600,000.00 |
STATE BANK OF
MYSORE |
BANJARE HILLS
BRANCH, HYDERABAD, Andhra Pradesh, I |
- |
|
12 |
90261415 |
23/09/1996 * |
30,000,000.00 |
INDUSTRIAL
DEVELOPMENT BANK OF INDIA |
IDBI TOWER,
CUFFE PARADE, MUMBAI, Maharashtra, IN |
- |
|
13 |
90261307 |
23/09/1996 * |
38,000,000.00 |
STATE BANK OF
MYSORE |
BANJARE HILLS
BRANCH, HYDERABAD, Andhra Pradesh, I |
- |
|
14 |
90261192 |
23/09/1996 * |
20,000,000.00 |
INDUSTRIAL
DEVELOPMENT BANK OF INDIA |
IDBI TOWER,
CUFFE PARADE, MUMBAI, Maharashtra, IN |
- |
|
15 |
90247742 |
15/02/1995 * |
60,400,000.00 |
CANARA BANK |
MASEB TANK
BRANCH, HYDERABAD, Andhra Pradesh, INDI |
- |
|
16 |
90261118 |
15/02/1995 * |
60,400,000.00 |
INDIAN OVERSEAS
BANK |
HYDERABAD MAIN BRANCH,
BANK STREET, MUMBAI, Maharashtra, INDIA |
- |
|
17 |
90261116 |
15/03/1995 * |
60,400,000.00 |
INDIAN OVERSEAS
BANK |
4-3-389 TO 392,
BANK STREET, HYDERABAD, Andhra Pradesh, INDIA |
- |
|
18 |
90261097 |
23/09/1996 * |
90,600,000.00 |
BANK OF BAROD |
IFB,
BASHEERBAGH, HYDERABAD, Andhra Pradesh, INDIA |
- |
|
19 |
90261064 |
04/03/1994 * |
90,000,000.00 |
INDUSTRIAL
DEVELOPMENT BANK OF INDIA |
IDBI TOWER,
CUFFE PARADE, MUMBAI, Maharashtra, INDIA |
- |
FIXED ASSETS
·
Land
·
Buildings
·
Plant and machinery
·
Electrical installations
·
Furniture and fixtures
·
Office equipments
·
Vehicles
·
Computer and Peripherals
·
Goodwill
·
SAP Upgrade License Fees
·
Implementation fee
·
Technical Knowhow
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.103.06 |
|
Euro |
1 |
Rs.84.92 |
INFORMATION DETAILS
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.