MIRA
INFORM REPORT
|
Report Date : |
19.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
GREENPLY INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
Makum Road, Tinsukia – 786125, Assam |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
28.11.1990 |
|
|
|
|
Com. Reg. No.: |
02-003484 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.120.682 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L20211AS1990PLC003484 |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturing of
Plywood and Allied Products, Laminates, Particle Boards, Medium Density Fibre
Boards, etc. |
|
|
|
|
No. of Employees
: |
4800 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (61) |
|
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 19000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a
well-established company having fine track record. The financial position of
the company is sound and healthy. Directors are reported to be experienced
and respectable businessman. Trade relations are reported as trustworthy.
Business is active. Payments are reported to be regular and as per
commitments. Company can be
considered good for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: A |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
October 7, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities: A1 |
|
Rating Explanation |
Very strong degree of Safety and lowest
credit risk. |
|
Date |
October 7, 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
Makum Road, Tinsukia – 786125, Assam, India |
|
Tel. No.: |
91-11-42791300 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office 1 : |
1501 – 1505, Narain Manzil, 23, Barakhamba Road, New Delhi – 110001,
India |
|
Tel. No.: |
91-11-42791300 |
|
E-Mail : |
|
|
|
|
|
Corporate Office 2 : |
Near B K Market,
2nd Floor, 16-A Shakespeare Sarani, Kolkata - 700001, West Bengal |
|
Tel. No.: |
91-33-30515000/ 22822175 |
|
Fax No.: |
91-33-30515010 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Plywood and Allied
Products · P.O. Tizit, District Mon, Nagaland · Kriparampur P. O. Sukhdevpur, District 24 Parganas, (S) West Bengal, India · Plot No. 910-913, G.I.D.C. Estate, Bamanbore District Surendranagar, - 363 520, Gujarat, India Laminate and Allied
Products · RIICO Industrial Estate, P.O. Behror, District Alwar, Rajasthan, India · Village Paterh Bhonku, Tehsil Nalagarh, District Solan– 174101, Himachal Pradesh, India Medium Density
Fibreboard · Integrated Industrial Estate, Pantnagar, Udham Singh Nagar, Uttarakhand, India Plywood and
Reconstructed Veneers · Integrated Industrial Estate, Pantnagar, Udham Singh Nagar, Uttarakhand, India |
|
|
|
|
Branch Offices : |
Located at: · Chandigarh Haryana Delhi Jaipur Ghaziabad Ahmedabad Surat Mumbai Nashik Thane
Pune Indore Nagpur Hyderabad Vijayawada Mangalore Bangalore Hubli Coimbatore Chennai Kochi Lucknow Patna Raipur Ranchi Bhubaneswar Kathmandu Siliguri Guwahati
|
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Shiv Prakash Mittal |
|
Designation : |
Whole-time director |
|
Date of Birth/ Age : |
63 Years |
|
Experience : |
39 Years |
|
Qualification : |
B.Sc |
|
Date of Appointment : |
01.02.2012 |
|
DIN No : |
00237242 |
|
|
|
|
Name : |
Mr. Rajesh Mittal |
|
Designation : |
Managing Director - Promoter Director |
|
Date of Birth/ Age : |
49 Years |
|
Experience : |
28 Years |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.01.2011 |
|
DIN No : |
00240900 |
|
|
|
|
Name : |
Mr. Saurabh Mittal |
|
Designation : |
Whole-time Director |
|
Date of Birth/ Age : |
19.08.1980 |
|
Experience : |
14 Years |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.09.2011 |
|
DIN No : |
00273917 |
|
|
|
|
Name : |
Mr. Shobhan Mittal |
|
Designation : |
Whole-time Director |
|
Date of Birth/ Age : |
32 Years |
|
Experience : |
7 Years |
|
Qualification : |
Bachelor of Business Administration from the University of Westminster, London |
|
Date of Appointment : |
01.09.2011 |
|
List of outside
directorship held excluding alternate directorship: |
· Prime Holdings Private Limited · Vanashree Properties Private Limited · Dholka Plywood Industries Private Limited · Educational Innovations Private Limited · Niranjan Infrastructure Private Limited. · PHD Chamber of Commerce and Industry |
|
DIN No : |
00347517 |
|
|
|
|
Name : |
Mr. Moina Yometh Konyak |
|
Designation : |
Director |
|
Date of Appointment : |
16.04.1996 |
|
DIN No : |
00669351 |
|
|
|
|
Name : |
Mr. Susil Kumar Pal |
|
Designation : |
Non-Executive – Independent Director |
|
Date of Appointment : |
06.12.05 |
|
DIN No : |
00268527 |
|
|
|
|
Name : |
Mr. Vinod Kumar Kothari |
|
Designation : |
Director |
|
Date of Appointment : |
31.05.2006 |
|
DIN No : |
00050850 |
|
|
|
|
Name : |
Mr. Anupam Kumar Mukerji |
|
Designation : |
Non-Executive – Independent Director |
|
Date of Birth/ Age : |
27.08.1936 |
|
Date of Appointment : |
08.08.2006 |
|
Qualification : |
M. Sc (Botany) from the Birla Institute of Technology and Science, Pilani, Rajasthan and AIFC diploma from Indian Forest College, Dehradun |
|
DIN No : |
00396878 |
|
|
|
|
Name : |
Ms. Sonali Bhagwati Dalal |
|
Designation : |
Director |
|
Date of Birth/ Age : |
15.10.1961 |
|
Qualification : |
B. Arch from the Centre for Environmental Planning and Technology (CEPT), Ahmedabad |
|
Date of Appointment : |
11.07.2007 |
|
List of outside
directorship held excluding alternate directorship: |
· Spazzio Projects and Interiors Private Limited · Fade to Black Design and Media Private Limited |
|
DIN No : |
01105028 |
|
|
|
|
Name : |
Mr. Upendra Nath Challu |
|
Designation : |
Non-Executive- Independent Director |
|
Date of Birth/ Age : |
20.10.19501 |
|
Qualification : |
B.A. from the Meerut University, Meerut |
|
Date of Appointment : |
31.08.2012 |
|
List of outside
directorship held excluding alternate directorship: |
· ARSS Infrastructure Projects Limited · Uttam Value Steels Limited · Icomm Tele Limited |
|
DIN No : |
05214065 |
KEY EXECUTIVES
|
Name : |
Mr. Kaushal Kumar Agarwal |
|
Designation : |
Company Secretary and Vice President |
|
|
|
|
Name : |
Ms. Priyanka |
|
Designation : |
Admin Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2014
|
Category of Shareholder |
Total No. of
Shares |
As a % |
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
4318636 |
17.89 |
|
|
8956364 |
37.11 |
|
|
13275000 |
55.00 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
13275000 |
55.00 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
1561537 |
6.47 |
|
|
3683041 |
15.26 |
|
|
5244578 |
21.73 |
|
|
|
|
|
|
510505 |
2.12 |
|
|
|
|
|
|
721537 |
2.99 |
|
|
4304050 |
17.83 |
|
|
80704 |
0.33 |
|
|
69009 |
0.29 |
|
|
8209 |
0.03 |
|
|
3486 |
0.01 |
|
|
5616796 |
23.27 |
|
Total Public
shareholding (B) |
10861374 |
45.00 |
|
Total (A)+(B) |
24136374 |
100.00 |
|
(C) Shares held by
Custodians and against which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
24136374 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs. 0.100 Million 
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of
Plywood and Allied Products, Laminates, Particle Boards, Medium Density Fibre
Boards, etc. |
|
|
|
|
Brand Names : |
“Greenply
Plywood” |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Decorative Laminates |
Sheets |
10020000 |
9371525 |
|
Prelaminated Particle Board |
SQM |
2000000 |
6226.32 |
|
Plywood |
SQM |
30750000 |
137861.206 |
|
Medium Density Fibreboard |
CBM |
180000 |
26924.496 |
|
Wind Power |
K.W. |
550 |
648744 |
GENERAL INFORMATION
|
No. of Employees : |
4800 (Approximately) |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· Axis Bank Limited Bank
of Baroda Export-Import
Bank of India ICICI
Bank Limited IDBI
Bank Limited Indus-Ind
Bank Limited ING
Vysya Bank Limited Landesbank
Baden-Wurttemberg Standard
Chartered Bank State
Bank of Hyderabad State
Bank of India |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
D. Dhandaria and Company Chartered Accountants |
|
|
|
|
Wholly-Owned Subsidiaries : |
· Greenlam Asia Pacific Pte. Limited Greenlam
America, INC. Greenlam
Europe (UK) Limited |
|
|
|
|
Parties Where Control Exists : |
· Himalaya Granites Limited Prime
Holdings Private Limited S.
M. Management Private Limited Prime
Properties Private Limited Trade
Combines |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
32000000 |
Equity Shares |
Rs.5/- each |
Rs. 160.000 Millions |
|
5000000 |
Cumulative Redeemable Preference Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 210.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24136374 |
Equity Shares |
Rs.5/- each |
Rs. 120.682
Millions |
|
|
|
|
|
Details of shareholding more than 5% shares in the company
|
Name of the
shareholders |
No. of Shares |
% of holding in the class |
|
S.M.Management
Private Limited |
3543462 |
14.68% |
|
Greenply Leasing
and Finance Limited |
2714731 |
11.25% |
|
Ashish Dhawan |
2429545 |
10.07% |
|
Prime Holdings
Private Limited |
2408560 |
9.98% |
|
Jai-Vijay
Resources Private Limited |
1294245 |
5.36% |
|
Shiv Prakash Mittal,
Saurabh Mittal and Shobhan Mittal on behalf of
Trade Combines, partnership firm |
2110476 |
8.74% |
Disclosure as per SEBI guidelines
On
24.03.2011, the Company allotted 2039694 equity shares of Rs.5 each at a premium
of Rs.137 per equity share on account of conversion of 2039694 detachable
warrants issued and allotted on 16th October, 2009 pursuant to the Letter of
Offer dated 14th September, 2009 and received Rs. 292.464 millions (including
Rs.2.827 millions brought in by promoters/promoter group as advised by stock
exchanges under instruction from SEBI) from the said conversion of detachable
warrants. The said proceeds have been fully utilised towards the following
purposes.
|
Particulars |
Rs. In Millions |
|
MDF Project |
198.542 |
|
Laminate Project |
10.466 |
|
General
Corporate Purpose |
83.413 |
|
Issue
Expenses |
0.043 |
|
|
|
|
Total |
292.464 |
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 |
120.682 |
120.682 |
120.682 |
|
(b) Reserves & Surplus |
4650.623 |
3594.014 |
3110.269 |
|
(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) |
4771.305 |
3714.696 |
3230.951 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2353.436 |
2668.605 |
2812.724 |
|
(b) Deferred tax liabilities (Net) |
403.345 |
335.551 |
246.964 |
|
(c) Other long term liabilities |
84.135 |
74.354 |
52.075 |
|
(d) long-term provisions |
166.706 |
123.363 |
96.686 |
|
Total Non-current
Liabilities (3) |
3007.622 |
3201.873 |
3208.449 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2976.567 |
3340.140 |
2369.580 |
|
(b) Trade payables |
2933.226 |
1653.421 |
1679.653 |
|
(c) Other current liabilities |
1466.963 |
1155.834 |
1010.563 |
|
(d) Short-term provisions |
102.845 |
70.357 |
36.562 |
|
Total Current
Liabilities (4) |
7479.601 |
6219.752 |
5096.358 |
|
|
|
|
|
|
TOTAL |
15258.528 |
13136.321 |
11535.758 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
6434.568 |
6156.405 |
5993.698 |
|
(ii) Intangible Assets |
83.316 |
36.536 |
45.670 |
|
(iii) Capital work-in-progress |
233.708 |
111.525 |
105.384 |
|
(iv) Intangible assets under development |
0.000 |
23.493 |
0.000 |
|
(b) Non-current Investments |
175.250 |
87.450 |
87.450 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
433.851 |
137.900 |
130.664 |
|
(e) Other Non-current assets |
0.058 |
2.619 |
5.181 |
|
Total Non-Current
Assets |
7360.751 |
6555.928 |
6368.047 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3279.139 |
2772.915 |
2292.825 |
|
(c) Trade receivables |
3432.070 |
2908.701 |
2127.474 |
|
(d) Cash and cash equivalents |
162.782 |
121.628 |
134.050 |
|
(e) Short-term loans and advances |
1021.224 |
774.587 |
610.800 |
|
(f) Other current assets |
2.562 |
2.562 |
2.562 |
|
Total Current
Assets |
7897.777 |
6580.393 |
5167.711 |
|
|
|
|
|
|
TOTAL |
15258.528 |
13136.321 |
11535.758 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
20008.145 |
16436.582 |
12174.119 |
|
|
|
Other Income |
64.989 |
59.073 |
46.742 |
|
|
|
TOTAL (A) |
20073.134 |
16495.655 |
12220.861 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
11148.162 |
9236.637 |
6916.283 |
|
|
|
Purchase of finished/traded goods |
865.887 |
905.823 |
703.198 |
|
|
|
Changes in Inventories of Finished Goods, Stock in Process and Stock in Trade |
(139.746) |
(206.977) |
(131.448) |
|
|
|
Employees Benefits Expense |
1616.772 |
1300.124 |
1061.969 |
|
|
|
Other Expenses |
3871.239 |
3353.742 |
2423.644 |
|
|
|
Loss due to Fluctuation in Foreign Exchange Rates |
69.871 |
181.578 |
85.966 |
|
|
|
TOTAL (B) |
17432.185 |
14770.927 |
11059.612 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2640.949 |
1724.728 |
1161.249 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
607.218 |
607.821 |
442.674 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2033.731 |
1116.907 |
718.575 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
519.874 |
467.713 |
409.942 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1513.857 |
649.194 |
308.633 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
372.241 |
115.097 |
57.742 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1141.616 |
534.097 |
250.891 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1855.272 |
1447.279 |
1274.440 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
140.000 |
70.000 |
50.000 |
|
|
|
Dividend |
72.409 |
48.273 |
24.136 |
|
|
|
Tax on Dividend |
12.306 |
7.831 |
3.916 |
|
|
BALANCE CARRIED
TO THE B/S |
2772.173 |
1855.272 |
1447.279 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export |
2244.083 |
1695.031 |
1374.987 |
|
|
TOTAL EARNINGS |
2244.083 |
1695.031 |
1374.987 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
3787.365 |
3495.448 |
2249.107 |
|
|
|
Stock in trade |
311.564 |
234.458 |
19.585 |
|
|
|
Stores & Spares |
38.084 |
28.567 |
37.293 |
|
|
|
Others |
157.963 |
25.923 |
77.673 |
|
|
TOTAL IMPORTS |
4294.976 |
3784.396 |
2383.658 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
47.30 |
22.13 |
10.39 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2013 |
30.09.2013 |
31.12.2013 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
4807.900 |
5840.300 |
5245.100 |
|
Total Expenditure |
4241.700 |
5209.800 |
4575.800 |
|
PBIDT (Excl OI) |
566.200 |
630.500 |
669.400 |
|
Other Income |
18.200 |
13.700 |
12.300 |
|
Operating Profit |
584.400 |
644.200 |
681.600 |
|
Interest |
143.000 |
141.600 |
144.200 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
441.400 |
502.600 |
537.400 |
|
Depreciation |
137.700 |
141.300 |
149.300 |
|
Profit Before Tax |
303.700 |
361.400 |
388.100 |
|
Tax |
78.100 |
96.100 |
102.700 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
225.700 |
265.200 |
285.400 |
|
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 |
225.700 |
265.200 |
285.400 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
5.69 |
3.24 |
2.05 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.57 |
3.95 |
2.54 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.19 |
5.03 |
2.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32 |
0.17 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.12 |
1.62 |
1.60 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06 |
1.06 |
1.01 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
in Millions) |
(Rs.
in Millions) |
(Rs.
in Millions) |
|
Share Capital |
120.682 |
120.682 |
120.682 |
|
Reserves & Surplus |
3110.269 |
3594.014 |
4650.623 |
|
Net
worth |
3,230.951 |
3,714.696 |
4,771.305 |
|
|
|
|
|
|
long-term borrowings |
2812.724 |
2668.605 |
2353.436 |
|
Short term borrowings |
2369.580 |
3340.140 |
2976.567 |
|
Total
borrowings |
5,182.304 |
6,008.745 |
5,330.003 |
|
Debt/Equity
ratio |
1.604 |
1.618 |
1.117 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
in Millions) |
(Rs.
in Millions) |
(Rs.
in Millions) |
|
Sales |
12174.119 |
16436.582 |
20008.145 |
|
|
|
35.012 |
21.729 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
in Millions) |
(Rs.
in Millions) |
(Rs.
in Millions) |
|
Sales |
12174.119 |
16436.582 |
20008.145 |
|
Profit |
250.891 |
534.097 |
1141.616 |
|
|
2.06% |
3.25% |
5.71% |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10482116 |
22/02/2014 |
300,000,000.00 |
THE FEDERAL BANK
LIMITED |
R. N. MUKHERJEE
ROAD, KOLKATA BRANCH, 1, R. N. MUKHERJEE ROAD, KOLKATA - 700001, WEST BENGAL,
INDIA |
B98322712 |
|
2 |
10469997 |
13/12/2013 |
4,500,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE COURCE
CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B93438992 |
|
3 |
10461449 |
11/11/2013 |
500,000,000.00 |
DCB BANK LIMITED |
601 & 602,
PENINSULA BUSINESS PARK, 6TH FLOOR, TOWER A, SENAPATI BAPAT MARG, LOWER
PAREL, MUMBAI, MAHARASHTRA - 400013, INDIA |
B90005893 |
|
4 |
10456018 |
21/10/2013 |
400,000,000.00 |
CITIBANK N.A |
KANAK BUILDING,
41 CHOWRINGHEE ROAD, KOLKATA, WEST BENGAL - 700071, INDIA |
B87941951 |
|
5 |
10454620 |
04/09/2013 |
47,500,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B87365672 |
|
6 |
10438120 |
23/07/2013 |
372,000,000.00 |
STANDARD
CHARTERED BANK |
(ACTING AS AN
SECURITY AGENT), NARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW DELHI, DELHI -
110001, INDIA |
B80158249 |
|
7 |
10438469 |
12/07/2013 |
626,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B80277635 |
|
8 |
10438459 |
10/07/2013 |
570,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B80275381 |
|
9 |
10437973 |
10/07/2013 |
640,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B80097090 |
|
10 |
10436434 |
26/06/2013 |
610,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B79441713 |
|
11 |
10436421 |
24/06/2013 |
650,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B79436861 |
|
12 |
10436429 |
22/06/2013 |
500,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B79440475 |
|
13 |
10440097 |
21/06/2013 |
180,000,000.00 |
HDFC BANK
LIMITED |
CENTRAL PLAZA
BRANCH,, 2/6, SARAT BOSE ROAD, KOLKATA, WEST BENGAL - 700020, INDIA |
B80992902 |
|
14 |
10430144 |
25/05/2013 |
620,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B76735646 |
|
15 |
10425491 |
02/05/2013 |
575,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B75056465 |
|
16 |
10421921 |
04/04/2013 |
10,600,000.00 |
AXIS BANK
LIMITED |
TRISHUL 3RD
FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT -
380006, INDIA |
B73798431 |
|
17 |
10419982 |
30/03/2013 |
580,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B73275620 |
|
18 |
10418495 |
28/03/2013 |
575,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B72809858 |
|
19 |
10418503 |
28/03/2013 |
600,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B72811276 |
|
20 |
10412626 |
12/03/2013 |
1,080,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B71064323 |
|
21 |
10410909 |
23/02/2013 |
900,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B70472469 |
|
22 |
10407756 |
19/06/2013 * |
330,000,000.00 |
AXIS BANK
LIMITED |
805-809,
ALEXANDRA HOUSE, 18, CHARTER ROAD,, CENTRAL HONG KONG, - 805809, HONG KONG |
B78853298 |
|
23 |
10396947 |
13/12/2013 * |
410,000,000.00 |
STATE BANK OF
HYDERABAD |
COMMERCIAL BRANCH,,
83, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B92656800 |
|
24 |
10401478 |
29/12/2012 |
549,000.00 |
AXIS BANK
LIMITED |
148, CIVIL
LINES, POST & DISTT. BAREILLY, BAREILLY, UTTAR PRADESH - 243001, INDIA |
B67430389 |
|
25 |
10399028 |
12/12/2012 |
3,511,000.00 |
AXIS BANK
LIMITED |
LORDS BUILDING,
1ST FLOOR,, 7/1, LORD SINHA ROAD, KOLKATA, WEST BENGAL - 700071, INDIA |
B66490467 |
|
26 |
10394755 |
30/11/2012 |
580,000.00 |
AXIS BANK
LIMITED |
LORDS BUILDING, 1ST
FLOOR,, 7/1, LORD SINHA ROAD, KOLKATA, WEST BENGAL - 700071, INDIA |
B65093940 |
|
27 |
10382278 |
19/06/2013 * |
150,000,000.00 |
AXIS BANK
LIMITED |
CORPORATE
BANKING BRANCH (CBB),, 1, SHAKESPEARE SARANI, AC MARKET, 3RD FLOOR,, KOLKATA,
WEST BENGAL - 700071, INDIA |
B78852522 |
|
28 |
10376822 |
11/09/2012 |
620,000.00 |
AXIS BANK
LIMITED |
LORDS BUILDING,
1ST FLOOR, 7/1, LORD SINHA ROAD, KOLKATA, WEST BENGAL - 700071, INDIA |
B58235623 |
|
29 |
10369544 |
23/07/2012 |
1,200,000.00 |
AXIS BANK
LIMITED |
LORDS BUILDING,
1ST FLOOR, 7/1, LORD SINHA ROAD, KOLKATA, WEST BENGAL - 700071, INDIA |
B45315918 |
|
30 |
10370529 |
05/07/2012 |
730,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B45665643 |
|
31 |
10367944 |
05/07/2012 |
1,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B44657708 |
|
32 |
10349975 |
15/03/2012 |
9,100,000.00 |
AXIS BANK
LIMITED |
LORDS BUILDING,
1ST FLOOR,, 7/1, LORD SINHA ROAD, KOLKATA, WEST BENGAL - 700071, INDIA |
B37673852 |
|
33 |
10337060 |
05/01/2012 |
483,247.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B32745184 |
|
34 |
10337561 |
05/01/2012 |
532,292.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B32960353 |
|
35 |
10336668 |
05/01/2012 |
535,729.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B32591737 |
|
36 |
10337050 |
05/01/2012 |
549,318.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B32742835 |
|
37 |
10318124 |
21/11/2011 |
100,000,000.00 |
STANDARD
CHARTERED BANK |
CREDIT
DOCUMENTATION UNIT, NARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW DELHI, DELHI -
110001, INDIA |
B25488735 |
|
38 |
10324706 |
31/10/2011 |
621,477.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B28404796 |
|
39 |
10324714 |
31/10/2011 |
709,462.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B28407138 |
|
40 |
10317347 |
25/10/2011 |
630,355.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B25190620 |
|
41 |
10311434 |
30/09/2011 |
530,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B23039142 |
|
42 |
10284581 |
23/09/2011 * |
260,000,000.00 |
STATE BANK OF
HYDERABAD |
COMMERCIAL
BRANCH, 83,TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B23198278 |
|
43 |
10274917 |
31/08/2012 * |
500,000,000.00 |
STATE BANK OF
HYDERABAD |
COMMERCIAL
BRANCH,, 83, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B58190281 |
|
44 |
10265522 |
15/05/2013 * |
600,000,000.00 |
BANK OF BARODA |
CORPORATE FINANCIAL
SERVICES BRANCH, 4, INDIA EXCHANGE PLACE, KOLKATA, WEST BENGAL- 700001, INDIA |
B75292888 |
|
45 |
10262055 |
07/01/2011 |
550,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B04184545 |
|
46 |
10254537 |
31/08/2012 * |
300,000,000.00 |
INDUSIND BANK
LIMITED |
SAVITRI TOWER,
3A, UPPER WOOD STREET, KOLKATA, WEST BENGAL - 700017, INDIA |
B58191826 |
|
47 |
10250186 |
31/08/2012 * |
500,000,000.00 |
BANK OF BARODA |
CORPORATE FINANCIAL
SERVICES BRANCH,, 4, INDIA EXCHANGE PLACE, 1ST FLOOR, KOLKATA, WEST BENGAL -
700001, INDIA |
B58081712 |
|
48 |
10252617 |
08/11/2010 |
443,000.00 |
AXIS BANK
LIMITED |
LORDS BUILDING,
1ST FLOOR,, 7/1, LORD SINHA ROAD, KOLKATA, WEST BENGAL - 700071, INDIA |
B00410134 |
|
49 |
10249469 |
01/11/2010 |
3,500,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A98991326 |
|
50 |
10246279 |
06/10/2010 |
354,000.00 |
AXIS BANK
LIMITED |
LORDS BUILDING,
1ST FLOOR,, 7/1, LORD SINHA ROAD, KOLKATA, WEST BENGAL - 700071, INDIA |
A97478937 |
|
51 |
10241000 |
13/09/2010 |
1,054,000.00 |
AXIS BANK
LIMITED |
LORDS BUILDING, 1ST
FLOOR,, 7/1, LORD SINHA ROAD, KOLKATA, WEST BENGAL - 700071, INDIA |
A95288809 |
|
52 |
10241001 |
06/09/2010 |
313,000.00 |
AXIS BANK
LIMITED |
LORDS BUILDING,
1ST FLOOR,, 7/1, LORD SINHA ROAD, KOLKATA, WEST BENGAL - 700071, INDIA |
A95289716 |
|
53 |
10240998 |
02/09/2010 |
367,000.00 |
AXIS BANK
LIMITED |
LORDS BUILDING,
1ST FLOOR,, 7/1, LORD SINHA ROAD, KOLKATA, WEST BENGAL - 700071, INDIA |
A95287520 |
|
54 |
10241004 |
01/09/2010 |
475,000.00 |
AXIS BANK
LIMITED |
LORDS BUILDING, 1ST
FLOOR,, 7/1, LORD SINHA ROAD, KOLKATA, WEST BENGAL - 700071, INDIA |
A95292314 |
|
55 |
10220414 |
21/10/2013 * |
1,000,000,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B88092374 |
|
56 |
10210141 |
27/03/2010 |
399,000.00 |
AXIS BANK
LIMITED |
LORDS BUILDING,
1ST FLOOR,, 7/1, LORDS SINHA ROAD, KOLKATA, WEST BENGAL - 700071, INDIA |
A82445131 |
|
57 |
10210139 |
16/03/2010 |
796,000.00 |
AXIS BANK
LIMITED |
LORDS BUILDING, 1ST
FLOOR,, 7/1, LORDS SINHA ROAD, KOLKATA, WEST BENGAL - 700071, INDIA |
A82444134 |
|
58 |
10210138 |
06/03/2010 |
375,000.00 |
AXIS BANK
LIMITED |
LORDS BUILDING,
1ST FLOOR,, 7/1, LORDS SINHA ROAD, KOLKATA, WEST BENGAL - 700071, INDIA |
A82442849 |
|
59 |
10210143 |
05/03/2010 |
400,000.00 |
AXIS BANK
LIMITED |
LORDS BUILDING,
1ST FLOOR,, 7/1, LORDS SINHA ROAD, KOLKATA, WEST BENGAL - 700071, INDIA |
A82445990 |
|
60 |
10201629 |
19/10/2010 * |
300,000,000.00 |
AXIS BANK
LIMITED |
CREDIT MANAGEMENT
CENTRE (CMC),, 1, SHAKESPEARE SARANI, AC MARKET, 3RD FLOOR, KOLKATA, WEST
BENGAL - 700071, INDIA |
A98016504 |
|
61 |
10201628 |
25/01/2010 |
200,000,000.00 |
AXIS BANK
LIMITED |
CREDIT
MANAGEMENT CENTRE (CMC),, 1, SHAKESPEARE SARANI, AC MARKET, 3RD FLOOR,
KOLKATA, WEST BENGAL - 700071, INDIA |
A79224010 |
|
62 |
10198332 |
19/10/2010 * |
50,000,000.00 |
EXPORT-IMPORT
BANK OF INDIA |
FLOOR-21, CENTRE
ONE BUILDING, WORLD TRADE CENTRE, CUFF PARADE, MUMBAI, MAHARASHTRA - 400005,
INDIA |
A97015010 |
|
63 |
10195072 |
19/10/2010 * |
200,000,000.00 |
EXPORT-IMPORT
BANK OF INDIA |
FLOOR-21, CENTRE
ONE BUILDING, WORLD TRADE CENTRE, CUFF PARADE, MUMBAI, MAHARASHTRA - 400005,
INDIA |
A97064372 |
|
64 |
10202479 |
05/01/2010 |
6,700,000.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A79582912 |
|
65 |
10179674 |
24/09/2009 |
500,000.00 |
TATA CAPITAL
LIMITED |
ONE FORBES, DR V
B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A71228498 |
|
66 |
10174658 |
29/08/2009 |
1,000,000,000.00 |
LANDESBANK
BADEN-WUERTTEMBERG |
AM HAUPTBAHNHOF
2, 70173 STUTTGART, FEDERAL REPUBLIC OF GERMANY, STUTTGART, - 70173, GERMANY |
A69337012 |
|
67 |
10173666 |
19/06/2013 * |
566,700,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL
FINANCE BRANCH, KOLKATA, 11, DR. U. N. BRAHMACHARI STREET, KOLKATA, WEST
BENGAL - 700017, INDIA |
B79072039 |
|
68 |
10172109 |
25/07/2013 * |
5,850,000,000.00 |
STATE BANK OF
INDIA (LEAD BANK) |
INDUSTRIAL FINANCE
BRANCH, 11, DR. U. N. BRAHMACHARI STREET, KOLKATA, WEST BENGAL - 700017,
INDIA |
B80554801 |
|
69 |
10160772 |
15/05/2009 |
85,000,000.00 |
STANDARD
CHARTERED BANK |
CREDIT RISK
CONTROL, NARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
A63448286 |
|
70 |
10159074 |
21/04/2009 |
620,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A62780853 |
|
71 |
10149003 |
19/12/2013 * |
390,000,000.00 |
IDBI BANK
LIMITED |
IDBI HOUSE,, 44,
SHAKESPEARE SARANI, KOLKATA, WEST BENGAL - 700017, INDIA |
B93104016 |
|
72 |
10128018 |
26/10/2009 * |
588,000,000.00 |
STANDARD
CHARTERED BANK |
(SCB ACTING AS
AN SECURITY AGENT OF SCB, LONDON), CRC, NARAIN MANZIL, 23 BARAKHAMBA ROAD,
NEW DELHI, DELHI - 110001, INDIA |
A75281618 |
|
73 |
10120721 |
26/10/2009 * |
500,000,000.00 |
IDBI BANK
LIMITED |
44, SHAKESPEARE
SARANI, KOLKATA, KOLKATA, WEST BENGAL - 700017, INDIA |
A74898453 |
|
74 |
10112179 |
08/07/2008 |
750,000,000.00 |
AXIS BANK
LIMITED |
KOLKATA MAIN
BRANCH,, 7, SHAKESPEARE SARANI, KOLKATA, WEST BENGAL - 700071, INDIA |
A41650425 |
|
75 |
10093087 |
04/06/2010 * |
850,000,000.00 |
STATE BANK OF
INDORE |
COMMERCIAL BRANCH,
M-47, CONNAUGHT CIRCUS, NEW DELHI, DELHI - 110001, INDIA |
A87881074 |
|
76 |
10092254 |
19/02/2009 * |
1,319,000,000.00 |
AXIS BANK
LIMITED |
CREDIT
MANAGEMENT CENTRE (CMC),, 1, SHAKESPEARE SARANI, AC MARKET, 3RD FLOOR,
KOLKATA, WEST BENGAL - 700071, INDIA |
A57888885 |
|
77 |
10094464 |
21/02/2008 |
692,000,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL
FINANCE BRANCH, 11, DR. U. N. BRAHMACHARI STREET, KOLKATA, WEST BENGAL -
700017, INDIA |
A34950642 |
|
78 |
10058600 |
19/06/2007 |
100,000,000.00 |
UTI BANK LIMITED |
KOLKATA MAIN
BRANCH, 7, SHAKESPEARE SARANI, KOLKATA, WEST BENGAL - 700071, INDIA |
A18419622 |
|
79 |
10053263 |
28/08/2008 * |
1,488,000,000.00 |
STATE BANK OF
INDIA (LEAD BANK) |
INDUSTRIAL FINANCE
BRANCH, 11, DR. U.N.BRAHMACHARI STREET, KOLKATA, WEST BENGAL - 700017, INDIA |
A47919162 |
|
80 |
10041786 |
27/02/2009 * |
1,600,000,000.00 |
STATE BANK OF
INDIA (LEAD BANK) |
INDUSTRIAL FINANCE
BRANCH, 11, DR. U.N.BRAHMACHARI STREET, KOLKATA, WEST BENGAL - 700017, INDIA |
A57950065 |
|
81 |
90267606 |
27/11/2013 * |
1,200,000,000.00 |
AXIS BANK
LIMITED |
CORPORATE BANKING
BRANCH (CBB),, 1, SHAKESPEARE SARANI, AC MARKET, 3RD FLOOR,, KOLKATA, WEST
BENGAL - 700071, INDIA |
B92884394 |
|
82 |
90267583 |
17/01/2014 * |
2,170,000,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL
FINANCE BRANCH, KOLKATA, 11, DR. U. N. BRAHMACHARI STREET, KOLKATA, WEST
BENGAL - 700017, INDIA |
B95630596 |
|
83 |
90267579 |
11/11/2005 |
50,000,000.00 |
UTI BANK LIMITED |
KOLKATA MAIN
BRANCH, `7; SHAKESPEAR SARANI, KOLKATA, WEST BENGAL - 700071, INDIA |
- |
|
84 |
90265209 |
11/11/2005 |
770,000,000.00 |
UTI BANK LIMITED |
KOLKATA MAIN
BRANCH, `7; SHAKESPEAR SARANI, KOLKATA, WEST BENGAL - 700071, INDIA |
- |
|
85 |
90266132 |
03/05/2007 * |
50,000,000.00 |
UTI BANK LIMITED |
KOLKATA MAIN BRANCH,
`7; SHAKESPEAR SARANI, KOLKATA, WEST BENGAL - 700071, INDIA |
A16674483 |
|
86 |
90266069 |
11/10/2004 |
50,000,000.00 |
UTI BANK LIMITED |
KOLKATA MAIN
BRANCH, `7; SHAKESPEAR SARANI, KOLKATA, WEST BENGAL - 700071, INDIA |
- |
|
87 |
90267430 |
20/05/2004 * |
255,500,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL
FINANCE BRANCH, 11 U N BRAMCHARI STREET, KOLKATA, WEST BENGAL - 700017, INDIA |
- |
|
88 |
90264840 |
26/12/2003 |
365,000,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL FINANCE
BRANCH, CALCUTTA, WEST BENGAL - 700017, INDIA |
- |
|
89 |
90265958 |
16/09/2003 |
75,000,000.00 |
CANARA BANK |
2/1; RUSSEL
STREET, CALCUTTA, WEST BENGAL - 700071, INDIA |
- |
|
90 |
90264837 |
16/08/2003 |
10,000,000.00 |
INDIAN OVERSEAS
BANK |
2; WOOD ST,
CALCUTTA, WEST BENGAL - 700016, INDIA |
- |
|
91 |
90265033 |
04/08/2003 |
4,500,000.00 |
PUNJAB NATIONAL
BANK |
P.S. CELL, 3; C
R AVENUE, KOLKATA, WEST BENGAL - 700072, INDIA |
- |
|
92 |
90265950 |
04/08/2003 |
4,500,000.00 |
PUNJAB NATIONAL BANK |
P.S. CELL, 3; C
R AVENUE, KOLKATA, WEST BENGAL - 700072, INDIA |
- |
|
93 |
90265918 |
08/03/2003 * |
54,000,000.00 |
UTI BANK LIMITED |
KOLKATA MAIN
BRANCH, 7 SHAKESPEARE SARANI, KOLKATA, WEST BENGAL - 700071, INDIA |
- |
|
94 |
90267332 |
26/05/2003 * |
54,000,000.00 |
UTI BANK LIMITED |
KOLKATA MAIN
BRANCH, 7 SHAKESPEARE SARANI, KOLKATA, WEST BENGAL - 700071, INDIA |
- |
|
95 |
90264911 |
16/04/2004 * |
25,000,000.00 |
UTI BANK LIMITED |
7; SHAKESPEARE SARANI,
CALCUTTA, WEST BENGAL - 700071, INDIA |
- |
|
96 |
90266578 |
08/03/2003 * |
47,000,000.00 |
UTI BANK LIMITED |
KOLKATA MAIN
BRANCH, 7 SHAKESPEARE SARANI, KOLKATA, WEST BENGAL - 700071, INDIA |
- |
|
97 |
90265887 |
22/09/2003 * |
20,000,000.00 |
PUNJAB NATIONAL
BANK |
44 SHAKESPEARE
SARANI, KOLKATA, WEST BENGAL - 700017, INDIA |
- |
|
98 |
90265018 |
21/06/2002 |
74,000,000.00 |
UTI BANK LIMITED |
7; SHAKESPEARE
SARANI, KOLKATA, WEST BENGAL - 700071, INDIA |
- |
|
99 |
90265886 |
02/06/2004 * |
74,000,000.00 |
UTI BANK LIMITED |
7; SHAKESPEARE
SARANI, KOLKATA, WEST BENGAL - 700071, INDIA |
- |
|
100 |
90265885 |
25/05/2004 * |
40,500,000.00 |
BANK OF INDIA |
5 B T M SARANI,
KOLKATA, WEST BENGAL - 700001, INDIA |
- |
* Date of charge modification
UNSECURED LOAN
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Deferred payment liabilities |
72.375 |
26.068 |
|
SHORT TERM
BORROWINGS |
|
|
|
Foreign Currency Loan – Buyers Credit |
1562.038 |
1930.587 |
|
Rupee Loans |
150.000 |
100.000 |
|
From
Others |
|
|
|
Rupee Loans |
0.000 |
496.497 |
|
|
|
|
|
Total |
1784.413 |
2553.152 |
NATURE OF OPERATION
Company is an interior infrastructure company engaged in the business of manufacturing plywood and allied products, laminates, particle boards, medium density fibre boards, etc. through its factories at various locations and branches and dealers’ network spread all over the country. It has three wholly owned subsidiary companies operating in Singapore, America and Europe. It imports raw materials for manufacturing and also finished goods for trading. Manufactured goods are sold both in domestic and overseas markets. The Overseas subsidiaries of the Company are engaged in the business of trading in similar products.
FINANCIAL AND
OPERATIONAL PERFORMANCE
Greenply’s net turnover recorded a jump of 21.64% to Rs.19976.900 millions. The Company’s operating profit (after adjusting currency losses and other income) increased by 42.61 % to Rs.2614.600 millions from Rs.1833.400 millions in 2011-12. The Company’s PAT increased 113.75 % to Rs.1141.600 millions from Rs.534.100 millions in 2011-12.
REVIEW OF OPERATIONS
During the year 2012-13, the Company posted a stellar performance with an impressive revenue growth of 21.73% to Rs.20008.145 millions from Rs.16436.582 millions for the year 2011-12. Profit for the year 2012-13 increased by a whopping 113.75% to Rs.1141.616 millions from Rs.534.097 millions for the corresponding preceding year. The growth in the topline as well in the bottomline reflects the robustness of the Company’s business and corporate strategy of enhancing value for its stakeholders. This performance is particularly noteworthy when viewed against the backdrop of the challenging business context in which this was achieved, namely, the steep increase in cost of various raw materials and increased competition from the unorganised players.
Exports recorded a phenomenal growth of 39.96% from Rs.1837.890 millions in the previous year to Rs.2572.256 millions in the current year.
As per the consolidated financial statements, the revenue from operation and profit for the year 2012-13 were Rs.20479.085 millions and Rs.1196.617 millions respectively.
During the year , the Company’s revenue growth of 21.73% outperformed the industry growth and the same could be achieved by streamlining the operations at the MDF unit at Pantnagar and the laminate unit at Nalagarh, higher capacity utilisation at other manufacturing units, improvement in product-mix, prudent assets utilisation synergised via clearly recognised sales and enhanced branding capabilities. The overall performance of the Company during 2012-13, amid an adverse economic scenario, vindicates the effectiveness of the abilities and prudency of the initiatives undertaken by Greenply’s management so as to better exploit business opportunities.
During 2012-13, the Company continued its efforts in the area of product integration and deeper market penetration. The Company continued to expand its export markets for laminates during 2012-13. Over the years, the Company has steadily grown as an interior infrastructure solutions provider, offering the gamut of products to satisfy customers’ diverse requirement viz. plywood, laminates, decorative veneers and medium density fibreboard (MDF). The Company is present across different price points to cater to all customers across the high-end, mid-market and value-for-money segments.
OUTLOOK AND EXPANSION
The Company’s outlook remains favourable on account of its product integration capabilities, growing brand popularity and the continuous support from its employees, shareholders, creditors, consumers, dealers and lenders. The Company’s vision is to be a one-stop solution for all interior infrastructure products (in its field of operation) in the country. The Company’s pan-India distribution network ensures easy availability of products in almost every part of India.
During the year, the Company has expanded the production capacity of its plywood unit at GIDC Estate, Bamanbore, Surendranagar, Gujarat and also started commercial production from the expanded capacity.
The Decorative Division of the Company is expected to launch a few new products in the coming years among which Chemical Resistant Compact Boards and Exterior Grade Compact Boards are notable. The division is also developing Halogen Free Fire Retardant HPL.
Further, to cater the growing demand of the Medium Density Fibreboard (MDF) products, the Company is setting up a new MDF Unit in Andhra Pradesh in respect of which the Company has completed the acquisition of a land parcel in Chittoor District, Andhra Pradesh. Necessary steps are being taken to obtain various statutory approvals/licenses to set up the unit. Additionally, the Company has decided to manufacture new value-added products from the Company’s existing MDF Unit at Pantnagar, Uttarakhand, by way of expansion of its lamination
capacity and introduction of laminated flooring and UV-coated panels in respect of which civil construction work has been completed, orders for all major machineries have been placed and machineries have started arriving at the site and erection is in progress.
The Directors are confident of achieving significantly better results in the coming years.
MANAGEMENT DISCUSSION
AND ANALYSIS
FURNITURE INDUSTRY
OVERVIEW
The entry of a number of international players and the rapid resurgence of established domestic brands and emergence of new ones is transforming most industries. As a result of which customers in India are getting spoilt for choices, the same holds true for the furniture industry. The industry players are wasting no time in offering the discerning Indian consumer a wide range of home and office furniture to choose from.
Furniture is one area where there has been a marked change over the last few years especially in context of the changing tastes of the Indian customers. The upper middle-class segment is growing at a breakneck pace and the trends are changing faster. An inclination for luxurious living room sets; lavish bedrooms and stylish kitchens have increased over the years.
There is a gamut of designer options for customers to choose from. The tastes of Indian customers have changed a lot in the last few years. These days, mostly everybody is fashionably conscious and their choices and expectations are scaling new echelons. They are demanding more than the run-of-the-mill interiors and there is a keen eye for detail. The typical Indian trait of getting furniture custom made by hiring a carpenter on contract too could take a heavy beating.
All these factors have come together to make India one of the largest markets globally for different types of furniture. It is estimated that the furniture market in India is likely to witness a CAGR of about 30 per cent over the next three years. In fact, an independent industry research institute and consulting firm, CSIL Milano has classified India as one of the 14 largest furniture markets in the world due to the rising purchasing power of the more than 400 million strong middle-class segment.
FURNITURE INDUSTRY
STATISTICS
The furniture industry in India is valued at around Rs.710 bn. The organized sector comprises just 15%, with unorganised players accounting for the rest. Backed by a substantial growth in the real estate, tourism and hospitality domains on the one hand and increasing lifestyle product consumption on the other (via rising urbanisation, increasing disposable incomes), the Indian furniture manufacturing industry is expected to grow by 13-15% over the next five years. An impetus is likely to be witnessed across the length and breadth of the real estate sector, especially in the value-added segment.
The furniture market in India is mainly concentrated in the Tier-I, II and III cities. It is estimated that the top 784 urban centres contribute 41% to the total consumer furniture market. With Tier-I and Tier-II cities, together accounting for 33% of the total market. The furniture sector makes a marginal contribution of 0.5%, to India’s GDP. Worldwide, India is ranked 8th in terms of consumption, but is only the 33rd largest furniture importer in the world. Domestic demand is largely satisfied by local production, which only emphasises the low import penetration ratio.
The Indian construction industry, ranked twelfth in the world, is experiencing an upward surge and in turn, has created a huge demand for furniture and allied products. In India, the home furniture segment accounts for 65 per cent of the furniture market, the office segment about 20 per cent and garden furniture for the remaining. In general, upper class homes are furnished in accordance with international styles; the rich pay a lot of attention to design and quality and the price is rarely a factor in the consumption of top range furniture.
OFFICE FURNITURE
SEGMENT
The Indian office furniture segment is estimated at around US$ 1.6 billion, with 40% of that is generated through the provision for desks. Other products which are mainly consumed are seating, executive furniture, cabinets and office storage, filing systems, wall-to-wall units, furniture for communication areas.
The modular furniture market in India, estimated to be about Rs.8000.000 millions, is dominated by bigger players. The market size of the international range of premium furniture is estimated to be worth about Rs.1000.000 millions, and is primarily catered to by foreign players. It is expected to grow at the rate of 10-15% over the next three or four years driven by demand from modern work spaces which includes the IT-ITeS, retail, healthcare and infrastructure segments.
INTERIOR
INFRASTRUCTURE
The Indian interior infrastructure sector is growing at a CAGR of 5-7%. The plywood and laminates is a highly fragmented industry. The share of the unorganised sector is about 78% in plywood and about 45% in laminates. The growth registered by organised sector is 15-20%, in comparison to overall industry growth of 5%, indicates a shift of customer preferences from unbranded to branded goods.
India’s wood panel market grew at a CAGR of 6-8% over FY08-FY12 in volume terms. There has been clear shift of preference for branded products in the market that has led to a decline in market share for unorganised players. Organised players have grown at 15-20% in volume terms over FY08-FY12. The organised sector comprised 39% (MDF and particle board-100% organised; Plywood - 22% organised) with the unorganised accounting for the rest.
India’s plywood industry comprised approximately 78% of total wood panel market and was valued at Rs.125 bn in FY12. The industry is expected to grow at the rate of 6-8% with organised players continuing to grow at a double-digit rate.
As far as the Indian MDF industry is concerned, it accounts for the balance 22% of the total wood panel market and which is completely controlled by the organised players; a shift of 8-10% is expected from plywood to MDF over the next three or four years. The investment for setting up a MDF plant is significant, which is a major entry barrier for players from the unorganised sector. Currently, 30-35% of the MDF demand is met through imports.
India’s laminates market was valued at Rs.40 bn in FY12. Organised players controlled around 55% of market with the rest controlled by unorganized players. It is expected to grow in line with growth of wood panel market. Organised players have increased their presence on account of rising aspirations and brand consciousness.
OUTLOOK
India’s rapidly expanding economy is seeing growing affluence, both in urban and rural areas. The tremendous penetration of the mass media has also resulted in millions of middle-class Indians aspiring for more lavish lifestyles. Furniture-makers are catering to the unmet urban middle-class need for stylish homes in compact apartments.
The non-organised sector, which accounts for nearly 85 per cent of the furniture made in India, mostly uses wood as a raw material for the home segment, while the organised sector produces wooden, metal and plastic furniture mainly for office use. Increasingly, moulded plastic, wrought iron, board and even bamboo furniture are gaining in popularity.
With the Indian economy and the real estate sector continuing to grow at a phenomenal pace, demand for office and home furniture is expected to expand even further. The entry of a number of international players and the rapid emergence of domestic brands is transforming the industry, offering the discerning Indian consumer a wide range of home and office furniture to choose from.
The furniture industry market size is expected to touch Rs.1120000.000 millions by 2015.
SEGMENT-WISE
PERFORMANCE
PLYWOOD AND ALLIED
PRODUCTS
Highlights, 2012-13
· Grew 15.28% in value terms and 9.26% in volume terms
· Achieved overall capacity utilization of 106% on enhanced capacity of 32.40 million sq.mtr.
· Increased production from 32.14 million sq. mtr in 2011-12 to 34.28 million sq. mtr
· Enhanced sales from 38.02 million sq. mtr in 2011-12 to 41.54 million sq. mtr
· Increased rural revenues from Rs.780.000 millions in 2011-12 to Rs.1140.000 millions
· Branding exercise with a new “Forever new- Greenply” advertisement on electronic media.
· Medium density fibreboard (MDF)
Highlights, 2012-13
· Grew 31.56% in volume terms and 53.53% in value terms.
· The average capacity utilisation stood at 88% against 65% in the previous year
· Increased production to 25,472 cubic metres in the short cycle segment, the pre-lamination area
· within the MDF unit
· Introduced low formal dehydrate emissions product which helped improve the market share.
Laminates and allied
products
Highlights, 2012-13
Laminates
· Production increased from 9.92 million sheets in 2011-12 to 10.37 million sheets
· Average realisation increased from Rs.498 per sheet in 2011-12 to Rs.566 per sheet
· Capacity utilisation stood at 104 % against 99% in the previous year.
· Exports grew 40% from Rs.1825.800 millions in 2011-12 to Rs.2556.200 millions
· Initiated a barcode system in the laminate factory
· Introduced new products like chemical-resistant laminate and anti-static laminate
· Developed new resins (Phenol Formaldehyde resin and Melamine Formaldehyde resin) which resulted in cost savings
Decorative veneers
· Increased average realisation from Rs. 74 per sq. mtr in 2011-12 to Rs.708 per sq. mtr
STATEMENT OF STANDALONE UN-AUDITED
RESULTS FOR THE QUARTER AND NINE-MONTHS ENDED 31ST DECEMBER, 2013
(RS.
IN MILLIONS)
|
Sl. |
Particulars |
Quarter ended |
Nine-months ended |
|
|
31.12.2013 |
30.09.2013 |
31.12.2013 |
||
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
||
|
1 |
Income from Operations |
|
|
|
|
|
(a) Net sales/income from operations
(Net of excise duty) |
5235.966 |
5838.179 |
15879.144 |
|
|
(b) Other Operating Income |
9.159 |
2.143 |
14.227 |
|
|
Total income from operations (net) |
5245.125 |
5840.322 |
15893.371 |
|
2 |
Expenses |
|
|
|
|
|
a) Cost of materials consumed |
2960.348 |
3020.002 |
8816.136 |
|
|
b) Purchase of Stock-in-trade |
317.647 |
329.799 |
972.919 |
|
|
c) Changes in inventories of finished
goods, work-in-progress and stock-in-trade |
(225.636) |
180.805 |
(377.148) |
|
|
d) Employee benefits expense |
487.241 |
512.281 |
1476.376 |
|
|
e) Depreciation and amortisation expense |
149.313 |
141.249 |
428.243 |
|
|
f) Loss/(Gain) due to fluctuation in
Foreign Exchange Rates |
39.289 |
92.212 |
178.884 |
|
|
g) Other Expenses |
996.871 |
1074.725 |
2960.107 |
|
|
Total Expenses |
4725.073 |
5351.073 |
14455.517 |
|
3 |
Profit from operations before other
income, finance costs and exceptional Items |
520.052 |
489.249 |
1437.854 |
|
4 |
Other income |
12.264 |
13.734 |
44.153 |
|
5 |
Profit /(Loss) from
ordinary activities before finance costs and exceptional items |
532.316 |
502.983 |
1482.007 |
|
6 |
Finance costs |
144.210 |
141.614 |
428.790 |
|
7 |
Profit/(Loss) from ordinary
activities after finance costs but before exceptional items |
388.106 |
361.369 |
1053.217 |
|
8 |
Exceptional items |
- |
- |
- |
|
9 |
Profit/ (Loss) from ordinary
activities before tax |
388.106 |
361.369 |
1053.217 |
|
10 |
Tax Expenses |
|
|
|
|
|
for Current |
(81.347) |
(75.746) |
(220.759) |
|
|
for Deferred |
(26.976) |
(4.816) |
(33.909) |
|
|
for MAT Credit |
5.657 |
(9.239) |
(15.870) |
|
|
for Earlier Year |
- |
(6.329) |
(6.329) |
|
11 |
Net Profit/(Loss) from ordinary
activities after tax |
285.440 |
265.239 |
776.350 |
|
12 |
Extraordinary items (net of
tax expense |
- |
- |
- |
|
13 |
Net Profit / (Loss) for the period |
285.440 |
265.239 |
776.350 |
|
14 |
Paid-up equity share capital
(Face value |
120.682 |
120.682 |
120.682 |
|
15 |
Reserves excluding Revaluation
Reserves |
- |
- |
- |
|
16 |
i) Basic EPS (`) before and
after extraordinary items (of |
11.83* |
10.99* |
32.17* |
|
|
ii) Diluted EPS (`) before and after
extraordinary items (of |
11.83* |
10.99* |
32.17* |
|
PARTICULARS OF SHAREHOLDING |
|
|
|
|
1. Public
shareholding |
|
|
|
|
Number of
Shares |
10861374 |
10861374 |
10861374 |
|
Percentage of Shareholding |
45.00 |
45.00 |
45.00 |
|
2. Promoters
and promoter group shareholding |
|
|
|
|
a)
Pledged/Encumbered |
|
|
|
|
- Number of Shares |
Nil |
Nil |
Nil |
|
- Percentage of Shares (as a % of the Total Shareholding of
promoter and promoter group) |
Nil |
Nil |
Nil |
|
- Percentage of Shares (as a % of the Total Share Capital
of the Company) |
Nil |
Nil |
Nil |
|
|
|
|
|
|
Non - encumbered |
|
|
|
|
- Number of
Shares |
13275000 |
13275000 |
13275000 |
|
- 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) |
55.00 |
55.00 |
55.00 |
|
|
Particulars |
Three
Months Ended 31.12.2013 |
|
B |
Investor
complaints (Nos.) |
|
|
|
Pending at the beginning of the quarter |
Nil |
|
|
Received during the quarter |
2 |
|
|
Disposed of during the quarter |
2 |
|
|
Remaining unresolved at the end of the quarter |
Nil |
* Not annualised
NOTES
1) The above results have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held on 30th January, 2014. The auditors have carried out "Limited Review" of the above results.
2) The previous period’s figures have been regrouped and reclassified wherever necessary.
3)
The Company has exercised the option available
to it under Rule 46A of the Companies (Accounting Standards) (Second Amendment)
Rules, 2011 in respect of accounting for fluctuations in foreign exchange
relating to "Long Term Foreign Currency Monetary Items". Accordingly,
it has adjusted a gain of 
3.652 Millions (loss of 63.921 Millions during the quarter
ended 31st December, 2012) to the cost of its fixed assets on account of such
difference arising during the current quarter and has provided for depreciation
thereon over the balance useful life of the respective assets. Consequently,
the credit to the Profit and Loss Account is lower to that extent.
4) In respect of the setting-up of new MDF manufacturing Unit in Andhra Pradesh, the Company has completed acquisition of land in Chittoor District, Andhra Pradesh and necessary steps are being taken to obtain various statutory approvals/licenses to set-up the Unit.
5) In respect of manufacture of new value added products in the Company's existing MDF Unit at Pantnagar, Uttarakhand, the Lamination Line has been commissioned and commercial production has commenced. The civil construction work and installation of machineries have been completed for the new production lines of Flooring and UV Coated Panels and the trial production is in process.
6) In respect of expansion of the existing manufacturing unit of the Company at Behror, Rajasthan to manufacture new value added products, the Company has completed purchase of Land adjacent to the Unit. Purchase orders for major equipments have been placed and civil construction work is in progress.
7) In respect of setting-up of a Veneer or Veneer-cum-Plywood Unit in Myanmar, the Company had incorporated a subsidiary viz. Greenply Industries (Myanmar) Private Limited in Myanmar and obtained approval of the Myanmar Investment Commission to set-up the Unit. The Company has started civil construction works and orders for machineries are being placed. Further, the Company has executed a Joint Venture Agreement with Alkemal Singapore Pte Limited in connection with owning and operating the said Myanmar Unit through an equally owned (50:50 investments owned directly or through subsidiary/affiliates) Joint Venture Company which will be incorporated as a Private Limited Company in Singapore. Post its incorporation, the Joint Venture Company will acquire and own 100% share of Greenply Industries (Myanmar) Private Limited subject to necessary regulatory approvals.
8) The Board of Directors of the Company at its meeting held on September 30, 2013, has approved a composite Scheme of Arrangement under Sections 100 to 104 and 391 to 394 of the Companies Act, 1956 between Greenply Industries Limited and Greenlam Industries Limited, a wholly owned subsidiary of the Company, and their respective shareholders and creditors which, inter alia, envisages demerger of the Decorative Business (comprised of Laminates and Allied Products) of the Company with all its assets and liabilities, into Greenlam Industries Limited. The Appointed Date of the Scheme would be April 01, 2013 or such other date as the Hon'ble High Court may direct.
SEGMENTWISE REVENUE, RESULTS AND CAPITAL EMPLOYED
|
Particulars |
Quarter ended |
Nine-months ended |
|
|
31.12.2013 |
30.09.2013 |
31.12.2013 |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
|
a) Plywood & Allied Products |
24748.22 |
27554.87 |
75128.02 |
|
b) Laminates
& Allied Products |
19521.03 |
20438.30 |
57470.41 |
|
c) Medium
Density Fibreboards |
8090.41 |
10388.62 |
26193.01 |
|
d) Unallocated |
- |
- |
- |
|
Total |
52359.66 |
58381.79 |
158791.44 |
|
Less: Inter
Segment Revenue |
1185.02 |
1129.59 |
3646.91 |
|
Net Sales/Income from Operations |
51174.64 |
57252.20 |
155144.53 |
|
a) Plywood & Allied Products |
2582.37 |
1861.71 |
6321.83 |
|
b) Laminates
& Allied products |
1990.53 |
1902.27 |
5425.18 |
|
c) Medium
Density Fibreboards |
1290.38 |
1794.79 |
4664.22 |
|
d) Unallocated |
- |
- |
- |
|
Total |
5863.28 |
5558.77 |
16411.23 |
|
Less: (i)
Interest |
1442.10 |
1416.14 |
4287.90 |
|
(ii) Other
Unallocable expenditure |
540.12 |
528.94 |
1591.16 |
|
Total Profit before Tax |
3881.06 |
3613.69 |
10532.17 |
|
a) Plywood & Allied Products |
38451.07 |
37126.45 |
38451.07 |
|
b) Laminates
& Allied Products |
50528.80 |
45589.53 |
50528.80 |
|
c) Medium
Density Fibreboards |
34641.12 |
35010.98 |
34641.12 |
|
d) Unallocated |
4538.15 |
3919.98 |
4538.15 |
|
Total |
128159.14 |
121646.94 |
128159.14 |
NOTES
The above results have
been reviewed by the Audit Committee and approved by the Board of Directors of
the Company at their respective meetings held on 30th January, 2014. The
auditors have carried out "Limited Review" of the above results.
CONTINGENT
LIABILITIES (AS ON 31.03.2013):
a. Counter-Guarantees given to banks for bank guarantees’ established Rs. 37.057 millions (Previous year Rs. 42.013 millions).
b. Counter-Guarantees given to banks for Stand-by Letter of Credit (SBLC) facility Rs. 165.000 millions (Previous Year Rs. Nil). Outstanding amount of Overdraft limit availed by Greenlam America Inc. and Greenlam Asia Pacific Pte. Limited against SBLC facility is USD 20,00,000 and USD 10,00,000 respectively equivalent to Rs. 159.701 millions (Previous year Rs. Nil) translated at year-end exchange rate.
c. Letter of credit established but material not received amounting to Rs. 527.621 millions (Previous year Rs. 48.354 millions).
d. Guarantee/Letter of Assurance given to Banks for Bills discounting facilities (Channel Financing) – Rs. 500.000 millions (Previous Year Rs. 500.000 millions) and outstanding amount under this Bills Discounting facility – Rs. 411.989 millions (Previous year Rs. 272.460 millions)
e. Claims against the Company not acknowledged as debts – Rs. 7.291 millions (Previous year – Rs. 4.713 millions)
f. Disputed Demand of Statutory Dues in Appeal Rs. 88.131 millions (Previous year Rs. 327.160 millions). Out of it Rs. NIL (Previous Year Rs. 267.052 millions) has been stayed for recovery by the relevant Authorities.
g. Amounts covered by Show cause notices received from Excise Authorities Rs. 878.320 millions (Previous Year Rs. 584.262 millions).
h. Amounts covered by Departmental appeals against orders in favour of the Company Rs. 1.106 million (Previous Year Rs. Nil).
i. Estimated liability of “Entry Tax” under “Himachal Pradesh Tax on Entry of Goods into Local Area Act, 2010” – Rs. Nil (Previous Year Rs. 8.883 millions) (stayed by High Court of Himachal Pradesh)
j. Guarantee given to Banks in respect of loans to its wholly owned subsidiary US Dollar 10,000,000 (Previous Year US Dollar 10,000,000) and Singapore Dollar 14,00,000 (Previous Year Singapore Dollar 14,00,000) equivalent to Rs. 604.000 millions (Previous Year Rs. 565.481 millions), translated at year-end exchange rate.
k. In respect of capital goods imported at the concessional rate of duty under the Export Promotion Capital Goods Scheme, the Company has an export obligation of approximately Rs. 1398.532 millions (previous year Rs. 1883.494 millions), which is required to be met at different dates, before 10.04.2019 (previous year 30.12.2018). In the event of non-fulfillment of the export obligation, the Company will be liable to pay customs duties of approximately Rs. 174.817 millions (Previous Year Rs. 235.437 millions) together with interest, as applicable.
FIXED ASSET:
- Good Will
- Trademarks
- Land
Development
- Building
- Plant and
Equipment
- Furniture and
Fixture
- Vehicles
- Heavy
Vehicles
- Office
Equipments
- Computer
Software
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. 58.86 |
|
UK Pound |
1 |
Rs. 98.82 |
|
Euro |
1 |
Rs. 80.72 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
61 |
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.