MIRA INFORM REPORT
|
Report Date : |
05.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
ZUARI AGRO CHEMICALS LIMITED (w.e.f. 28.09.2012) |
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Formerly Known
As : |
ZUARI HOLDINGS LIMITED |
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Registered Office
: |
Jai Kissan Bhawan, Zuarinagar, Goa – 403726 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
10.09.2009 |
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Com. Reg. No.: |
24-006177 |
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Capital Investment
/ Paid-up Capital : |
Rs.420.580 Millions |
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CIN No.: [Company Identification
No.] |
L65910GA2009PLC006177 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BLRZ11011A |
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PAN No.: [Permanent Account No.] |
AAACZ3924H |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
The Subject is engaged in the manufacture, seller and trader of fertilisers and seeds. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Exist |
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Comments : |
Subject is a part of K K Birla Group. It is a well-established and reputed company having a satisfactory track
record. Profitability of the company seems to be low during 2014. However, general financial position seems to be good. Trade relations are reported to be fair. Business is active. Payments terms
are reported to be usually correct and as per commitments. The company can be considered for normal 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.
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term fund based limits = BBB+ |
|
Rating Explanation |
Have moderate degree of safety and carry moderate credit risk. |
|
Date |
July, 2014. |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term Non - fund based limits = A2+ |
|
Rating Explanation |
Have strong degree of safety and carry low credit risk. |
|
Date |
July, 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
31-03-2014.
INFORMATION PARTED BY
Management Non – Co-Operative.
Tel No.: 91-832-2592180
LOCATIONS
|
Registered Office/ Factory : |
Jai Kissan Bhawan, Zuarinagar, Goa – 403726, India |
|
Tel. No.: |
91-832-2592180/ 2592181 |
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Fax No.: |
91-832-2555462/ 2555279 |
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E-Mail : |
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|
Website : |
DIRECTORS
As on: 31.03.2014
|
Name : |
Saroj Kumar Poddar |
|
Designation : |
Chairman |
|
Date of Birth/Age : |
15.09.1945 |
|
Qualification : |
B.Com (Hons) |
|
Date of Appointment : |
07.08.2012 |
|
DIN No.: |
00008654 |
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|
Name : |
Mr. Narayanan Suresh Krishnan |
|
Designation : |
Managing Director |
|
Address : |
Flat No.105, Four Seasons, No.16, Burnton Road, Bangalore, Bangalore – 560025, Karnataka, India |
|
Date of Birth/Age : |
03.06.1964 |
|
Qualification : |
B.E. (Hons), M. Sc |
|
Date of Appointment : |
01.04.2012 |
|
DIN No.: |
00021965 |
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|
Name : |
Mr. Arun Duggal |
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Designation : |
Additional Director |
|
Address : |
A-4, West End, New Delhi – 110 021, India |
|
Date of Birth/Age : |
01.10.1946 |
|
Date of Appointment : |
07.08.2012 |
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DIN No.: |
00024262 |
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|
Name : |
Mr. Jayant Narayan Godbole |
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Designation : |
Additional Director |
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Date of Birth/Age : |
17.02.1945 |
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Qualification : |
B.E. (Chemical Engineer) |
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Date of Appointment : |
07.08.2012 |
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DIN No.: |
00056830 |
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Name : |
Mr. Harbachan Singh Bawa |
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Designation : |
Vice Chairman |
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Address : |
D – 4/18, Krishna Nagar, New Delhi – 110 051, India |
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Date of Birth/Age : |
20.03.1931 |
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Qualification : |
M.S. (Chemical Engineering) |
|
Date of Appointment : |
07.08.2012 |
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DIN No.: |
00244222 |
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|
|
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Name : |
Mr. Marco Philippus Ardeshir Wadia |
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Designation : |
Director |
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Date of Birth/Age : |
30.01.1956 |
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Qualification : |
B.A. (Hons), L.L.B |
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Date of Appointment : |
07.08.2012 |
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DIN No.: |
00244357 |
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|
|
|
Name : |
Mr. Gopal Krishna Pillai |
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Designation : |
Additional Director |
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Date of Appointment : |
31.07.2012 |
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DIN No.: |
02340756 |
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|
|
|
Name : |
Mr. Akshay Poddar |
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Designation : |
Executive Director |
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Date of Birth/Age : |
20.07.1976 |
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Date of Appointment : |
01.04.2012 |
|
DIN No.: |
00008686 |
KEY EXECUTIVES
|
Name : |
R. Y. Patil |
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Designation : |
Chief General Manager and Company Secretary |
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Name : |
Mr. Naveen Kapoor |
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Designation : |
President Agri-Business |
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Name : |
R. S. Chugh |
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Designation : |
Chief Manufacturing Officer |
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|
Name : |
Mr. V. Sheshdhari |
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Designation : |
Vice President – Finance |
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|
Name : |
V. K. Sinha |
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Designation : |
Vice President-Strategic Planning |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.06.2014
|
Category of Shareholder |
Total No. of Shares |
Total
Shareholding as a % of Total No. of Shares |
|
(A) Shareholding
of Promoter and Promoter Group |
||
|
|
|
|
|
|
181027 |
0.43 |
|
|
23202465 |
55.17 |
|
|
23383492 |
55.60 |
|
|
|
|
|
|
7491750 |
17.81 |
|
|
7491750 |
17.81 |
|
Total
shareholding of Promoter and Promoter Group (A) |
30875242 |
73.41 |
|
(B) Public
Shareholding |
||
|
|
|
|
|
|
3395043 |
8.07 |
|
|
4640 |
0.01 |
|
|
2433344 |
5.79 |
|
|
1226449 |
2.92 |
|
|
217 |
0.00 |
|
|
217 |
0.00 |
|
|
7059693 |
16.79 |
|
|
|
|
|
|
1188189 |
2.83 |
|
|
|
|
|
|
2567878 |
6.11 |
|
|
268696 |
0.64 |
|
|
98308 |
0.23 |
|
|
52234 |
0.12 |
|
|
43259 |
0.10 |
|
|
450 |
0.00 |
|
|
2365 |
0.01 |
|
|
4123071 |
9.80 |
|
Total Public
shareholding (B) |
11182764 |
26.59 |
|
Total (A)+(B) |
42058006 |
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) |
42058006 |
0.00 |
SHAREHOLDING
BELONGING TO THE CATEGORY "PROMOTER AND PROMOTER GROUP"
|
Sl. No. |
Name of the
Shareholder |
Details of Shares
held |
Total shares as a %
of diluted share capital |
|
|
No. of Shares held |
As a % of grand
total (A)+(B)+(C) |
|||
|
1 |
GLOBALWARE HOLDINGS LIMITED |
70,12,000 |
16.67 |
0.00 |
|
2 |
TEXMACO INFRASTRUCTURE & HOLDINGS LIMITED |
30,00,125 |
7.13 |
0.00 |
|
3 |
ADVENTZ INVESTMENTS & HOLDINGS LIMITED |
12,36,852 |
2.94 |
0.00 |
|
4 |
COLTRANE CORPN LIMITED |
4,79,750 |
1.14 |
0.00 |
|
5 |
JEEWAN JYOTI MEDICAL SOCIETY |
1,38,550 |
0.33 |
0.00 |
|
6 |
ADVENTZ FINANCE PRIVATE LIMITED |
85,789 |
0.20 |
0.00 |
|
7 |
DUKE COMMERCE LIMITED |
81,000 |
0.19 |
0.00 |
|
8 |
SAROJ KUMAR PODDAR |
79,406 |
0.19 |
0.00 |
|
9 |
ADVENTZ SECURITIES ENTERPRISES LIMITED |
98,804 |
0.23 |
0.00 |
|
10 |
ADVENTZ INVESTMENT CO PRIVATE LIMITED |
15,000 |
0.04 |
0.00 |
|
11 |
RICON COMMERCE LIMITED |
8,100 |
0.02 |
0.00 |
|
12 |
JYOTSNA PODDAR |
71,621 |
0.17 |
0.00 |
|
13 |
NEW EROS TRADECOM LIMITED |
11,96,767 |
2.85 |
0.00 |
|
14 |
SIL INVESTMENTS LIMITED |
32,08,000 |
7.63 |
0.00 |
|
15 |
PILANI INVESTMENT & IND CORP LIMITED |
4,34,000 |
1.03 |
0.00 |
|
16 |
RTM INVESTMENT & TRADING COMPANY LIMITED |
1,10,768 |
0.26 |
0.00 |
|
17 |
SCM INVESTMENT & TRADING COMPANY LIMITED |
35,000 |
0.08 |
0.00 |
|
18 |
RONSON TRADERS LIMITED |
63,200 |
0.15 |
0.00 |
|
19 |
SARLA DEVI BIRLA |
30,000 |
0.07 |
0.00 |
|
20 |
ZUARI GLOBAL LIMITED |
84,11,601 |
20.00 |
0.00 |
|
21 |
ZUARI MANAGEMENT SERVICES LIMITED |
50,78,909 |
12.08 |
0.00 |
|
|
Total |
3,08,75,242 |
73.41 |
0.00 |
SHAREHOLDING
BELONGING TO THE CATEGORY "PUBLIC" AND HOLDING MORE THAN 1% OF THE
TOTAL NO. OF SHARES
|
Sl. No. |
Name of the Shareholder |
No. of Shares held |
Shares as % of Total No. of Shares |
|
|
1 |
LIFE INSURANCE CORPORATION OF INDIA |
1350526 |
3.21 |
|
|
2 |
RELIANCE CAPITAL TRUSTEE COMPANY LIMITED |
1200000 |
2.85 |
|
|
3 |
DEUTSCHE SECURITIES MAURITIUS LIMITED |
899027 |
2.14 |
|
|
4 |
GENERAL INSURANCE CORPORATION OF INDIA |
565972 |
1.35 |
|
|
5 |
THE NEW INDIA ASS COMPANY LIMITED |
446010 |
1.06 |
|
|
6 |
ICICI PRUDNETIAL VALUE FUND SERIES 2 |
776920 |
1.85 |
|
|
7 |
ICICI PRUDENTAL TOP 100 FUND |
456486 |
1.09 |
|
|
|
Total |
5694941 |
13.54 |
DETAILS OF LOCKED-IN SHARES
|
Sl. No. |
Name of the
Shareholder |
No. of Shares |
Locked-in Shares as
% of |
|
1 |
ZUARI GLOBAL LTD |
84,11,531 |
20.00 |
|
2 |
ZUARI MANAGEMENT SERVICES LTD |
42,05,801 |
10.00 |
|
|
Total |
1,26,17,332 |
30.00 |
BUSINESS DETAILS
|
Line of Business : |
The Subject is engaged in the manufacture, seller and
trader of fertilizers and seeds. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
|
|
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|
Legal Advisers : |
|
|
Name : |
Khaitan and Company |
|
Address : |
Kolkata, India |
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|
Auditors : |
|
|
Name : |
S. R. Batliboi and Company Chartered Accountants |
|
Address : |
Golf View Corporate, Tower B, Sector 42, Gurgaon - 122002, Haryana, India |
|
PAN No : |
AALFS0506L |
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|
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|
Enterprises in respect of which Company is an
associate:–: |
· Zuari Global Limited (formerly known as Zuari Industries Limited) (w.e.f. 01.07.2011) · Indian Furniture Products Limited · Simon India Limited · Zuari Management Services Limited · Gulbarga Cement Limited · Globex Limited · Zuari Investments Limited · Zuari Insurance Brokers Limited – Subsidiary of Zuari Investments Limited · Zuari Commodity Trading Limited – Subsidiary of Zuari Investments Limited · Zuari Financial Services Limited – Subsidiary of Zuari Investments Limited · Style Spa Furniture Limited · Zuari Infraworld India Limited (Formerly Adventz Infraworld India Limited) · Zuari Indian Oiltaking Limited – Joint Venture of Zuari Global Limited · MCA Phosphates Pte. Limited (w.e.f. 27th March, 2014) |
|
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|
Subsidiaries of
the Company : |
|
|
|
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|
Joint Ventures
of the Company : |
|
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|
|
Enterprises
Owned Significantly Influenced By Key
Management Personnel or Their Relatives |
|
CAPITAL STRUCTURE
As on: 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
42058006 |
Equity Shares |
Rs.10/- each |
Rs.420.580 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
42058006 |
Equity Shares |
Rs.10/- each |
Rs.420.580 Millions |
|
|
|
|
|
a. Reconciliation of Shares Outstanding at the beginning and end of the
reporting year
|
PARTICULARS |
31st March 2014 |
|
|
|
In Numbers |
Rs. In Millions |
|
Equity Shares |
|
|
|
At the beginning of the year |
42058006 |
420.580 |
|
Issued during the year |
- |
- |
|
Outstanding at the end of the year |
42058006 |
420.580 |
b. Terms/Rights
Attached to equity Shares
The Company has only one class of equity shares having a par value of Rs.10/ - Share. Each shareholder of equity shares is entitled to one vote per share. The Company declares and pays dividend in Indian rupees. The dividend proposed by Board of Directors is subject to the approval of shareholders in the ensuing Annual General Meeting.
During the year 31st March 2014, the amount of per share dividend recognised for distribution to equity share holders was Rs.3/ -, subject to approval of shareholders (31st March 2013: Rs.3/-)
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.
c. Details of Shareholders holding more than 5% of equity shares in the
Company
|
Name of Shareholder |
31st March 2014 |
|
|
|
No. of Shares held |
% Holding in Class |
|
Zuari Global Limited (Formerly known as Zuari Industries Limited) |
84,11,601 |
20.00 |
|
SIL Investments Limited |
32,08,000 |
7.63 |
|
Texmaco Infrastructure & Holdings Limited |
3000125 |
7.13 |
|
Globalware Trading & Holdings Limited |
70,12,000 |
16.67 |
|
Zuari Management Services Limited |
5078909 |
12.08 |
As per of the company including its register
of shareholders / members and other declarations received from shareholders
regarding beneficial interest, the above shareholding represents both legal and
beneficial ownership of shares.
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
420.580 |
420.580 |
420.580 |
|
(b) Reserves & Surplus |
7635.949 |
7522.162 |
7425.316 |
|
(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) |
8056.529 |
7942.742 |
7845.896 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
164.151 |
116.818 |
149.442 |
|
(c) Other long term
liabilities |
623.696 |
541.103 |
478.115 |
|
(d) long-term
provisions |
6.873 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
794.720 |
657.921 |
627.557 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
26137.676 |
29138.102 |
29650.177 |
|
(b) Trade
payables |
5841.234 |
4753.279 |
7462.053 |
|
(c) Other
current liabilities |
2503.327 |
864.067 |
564.971 |
|
(d) Short-term
provisions |
425.240 |
467.673 |
522.169 |
|
Total Current
Liabilities (4) |
34907.477 |
35223.121 |
38199.370 |
|
|
|
|
|
|
TOTAL |
43758.726 |
43823.784 |
46672.823 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
2347.744 |
1881.729 |
1896.635 |
|
(ii)
Intangible Assets |
13.870 |
0.090 |
7.377 |
|
(iii)
Capital work-in-progress |
782.996 |
808.115 |
195.402 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
3289.019 |
1974.997 |
1974.997 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
803.679 |
1154.811 |
953.285 |
|
(e) Other
Non-current assets |
71.179 |
84.797 |
13.140 |
|
Total Non-Current
Assets |
7308.487 |
5904.539 |
5040.836 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
5590.413 |
5811.312 |
7216.489 |
|
(c) Trade
receivables |
28625.985 |
29628.971 |
29519.804 |
|
(d) Cash
and cash equivalents |
18.326 |
1567.522 |
3325.901 |
|
(e)
Short-term loans and advances |
1804.011 |
608.397 |
664.291 |
|
(f) Other current
assets |
411.504 |
303.043 |
905.502 |
|
Total
Current Assets |
36450.239 |
37919.245 |
41631.987 |
|
|
|
|
|
|
TOTAL |
43758.726 |
43823.784 |
46672.823 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
51758.974 |
52374.070 |
61808.773 |
|
|
|
Other Income |
439.652 |
578.868 |
561.161 |
|
|
|
TOTAL (A) |
52198.626 |
52952.938 |
62369.934 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of raw material consumed |
23586.382 |
19629.443 |
18998.103 |
|
|
|
Purchase of traded goods |
17838.920 |
21651.392 |
31435.160 |
|
|
|
Decrease in inventories of finished goods, work-in-progress and traded goods |
(1280.707) |
640.519 |
1452.057 |
|
|
|
Employee benefits expense |
776.979 |
753.781 |
548.017 |
|
|
|
Administrative selling other expenses |
9078.875 |
7631.775 |
7093.992 |
|
|
|
TOTAL (B) |
50000.449 |
50306.910 |
59527.329 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2198.177 |
2646.028 |
2842.605 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2604.669 |
2103.262 |
1159.880 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(406.492) |
542.766 |
1682.725 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
206.967 |
237.944 |
180.166 |
|
|
|
|
|
|
|
|
|
Less |
EXCEPTIONAL ITEMS |
(820.433) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
206.974 |
304.822 |
1502.559 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(54.430) |
60.359 |
470.788 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
261.404 |
244.463 |
1031.771 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
431.678 |
384.832 |
(0.297) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
50.000 |
50.000 |
500.000 |
|
|
|
Proposed Dividend : 30% |
126.174 |
126.174 |
126.174 |
|
|
|
Tax on dividend (Including Surcharge) |
21.443 |
21.443 |
20.468 |
|
|
BALANCE CARRIED
TO THE B/S |
197.617 |
431.678 |
384.832 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
12030.630 |
7978.264 |
9443.138 |
|
|
|
Stores & Spares |
28.989 |
26.799 |
55.517 |
|
|
|
Capital Goods |
199.679 |
87.350 |
1.723 |
|
|
|
Others |
15375.652 |
18716.178 |
28067.134 |
|
|
TOTAL IMPORTS |
27634.95 |
26808.591 |
37567.512 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.22 |
5.81 |
30.97 |
|
QUARTERLY /
SUMMARISED RESULTS
|
PARTICULARS |
|
|
|
Jun 2014 |
|
Audited / UnAudited |
|
|
|
UnAudited |
|
Net Sales |
|
|
|
10339.100 |
|
Total Expenditure |
|
|
|
10173.700 |
|
PBIDT (Excl OI) |
|
|
|
165.400 |
|
Other Income |
|
|
|
50.000 |
|
Operating Profit |
|
|
|
215.400 |
|
Interest |
|
|
|
679.500 |
|
Exceptional Items |
|
|
|
0.000 |
|
PBDT |
|
|
|
(464.100) |
|
Depreciation |
|
|
|
56.400 |
|
Profit Before Tax |
|
|
|
(520.500) |
|
Tax |
|
|
|
(141.700) |
|
Provisions and contingencies |
|
|
|
0.000 |
|
Profit After Tax |
|
|
|
(378.800) |
|
Extraordinary Items |
|
|
|
0.000 |
|
Prior Period Expenses |
|
|
|
0.000 |
|
Other Adjustments |
|
|
|
0.000 |
|
Net Profit |
|
|
|
(378.800) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.51 |
0.47 |
1.67 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
9.42 |
11.52 |
52.86 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.52 |
0.74 |
3.38 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.04 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.24 |
3.66 |
3.78 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.04 |
1.07 |
1.09 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
420.580 |
420.580 |
420.580 |
|
Reserves & Surplus |
7425.316 |
7522.162 |
7635.949 |
|
Net worth |
7845.896 |
7942.742 |
8056.529 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
29650.177 |
29138.102 |
26137.676 |
|
Total borrowings |
29650.177 |
29138.102 |
26137.676 |
|
Debt/Equity ratio |
3.779 |
3.669 |
3.244 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
61808.773 |
52374.070 |
51758.974 |
|
|
|
(15.264) |
(1.174) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
61808.773 |
52374.070 |
51758.974 |
|
Profit |
1031.771 |
244.463 |
261.404 |
|
|
1.67% |
0.47% |
0.51% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities Of Long Term Debt |
68.858 |
40.630 |
296.630 |
|
|
|
|
|
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
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:
|
Reg No.:
WP / 264 /2012 |
|||||
|
Case Status : |
Pending
(Final Hearing) |
||||
|
Petitioner : |
1. M/S. Zuari Industries Limited |
||||
|
Respondent : |
1. Zuari Agro Chemicals Limited Workers
Union and 3 Ors |
||||
|
Petitoner Adv. : |
ADV. SUDHA C. PAI KIR R.NO. 2 AND 4 |
||||
|
District : |
South Goa |
||||
|
Bench : |
Single |
||||
|
Act : |
Constitution of India |
||||
|
Category: |
Others (W.P.) |
||||
|
Case Stage : |
For Final Hearing |
||||
|
Hearing Date : |
01 April
2014 |
||||
|
|
|
||||
|
|||||
|
This Case is updated on : 29.03.2014 |
|||||
UNSECURED LOAN
|
Particulars |
As on 31.03.2014 |
As on 31.03.2013 |
|
|
(Rs. In Millions) |
|
|
SHORT TERM
BORROWINGS: |
|
|
|
Short Term Loans |
|
|
|
Working capital demand loans (The rate of interest on loans varies between 10.00% - 11.60% and are repayable
over a period of 32 to 90 days) |
2000.000 |
4400.000 |
|
Total
|
2000.000 |
4400.000 |
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10371392 |
25/11/2013 |
39,000,000,000.00 |
STATE BANK OF INDIA |
NEVILLE HOUSE, J N
HEREDIA MARG,, BALLARD ESTATE, |
B90206038 |
UNAUDITED FINANCIAL RESULTS FOR THE HALF YEAR ENDED 30TH September 2014
|
Sr. No. |
Particulars |
Rs in Millions |
Rs in Millions |
Rs in Millions |
||
|
Quarter ended |
Quarter ended |
6 Months ended |
||||
|
As on 30.09.2014 |
as on 30.06.2014 |
as on 30.09.2014 |
||||
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
||||
|
1 |
(a) Net Sales/Income from Operations |
15316.100 |
10294.600 |
25610.700 |
||
|
|
(b)Other Operating Income |
38.800 |
46.500 |
85.300 |
||
|
|
Total Income From
Operations (Net) |
15354.900 |
10341.100 |
25696.000 |
||
|
2 |
Expenditure |
|
|
|
||
|
|
(a) |
Cost of Materials Consumed |
6367.400 |
5092.000 |
11459.400 |
|
|
|
(b) |
Purchases of Stock-in-Trade |
1858.300 |
5586.300 |
7444.600 |
|
|
|
(c) |
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
3998.400 |
(2648.400) |
1350.000 |
|
|
|
(d) |
Employees benefits expense |
224.800 |
240.000 |
464.800 |
|
|
|
(e) |
Depreciation and amortization expense |
29.400 |
56.400 |
85.800 |
|
|
|
(f ) |
Other expenses |
2093.200 |
1903.800 |
3997.000 |
|
|
|
|
TOTAL (B) |
14571.500 |
10230.100 |
24801.600 |
|
|
|
|
|
|
|
||
|
3 |
Profit from operation before other income, interest and other
exceptional items(1-2) |
783.400 |
111.000 |
894.400 |
||
|
4 |
Other Income |
62.900 |
48.000 |
110.900 |
||
|
5 |
profit before interest and exceptional items(3+4) |
846.300 |
159.000 |
1005.300 |
||
|
6 |
Interest |
567.000 |
679.500 |
1246.500 |
||
|
7 |
Profit after interest but before exceptional items(5-6) |
279.300 |
(520.500) |
(241.200) |
||
|
8 |
Exceptional Items |
-- |
-- |
-- |
||
|
9 |
Profit(+)/Loss(-) from Ordinary Activities before tax (7-8) |
279.300 |
(520.500) |
(241.200) |
||
|
10 |
Tax Expenses |
(59.800) |
141.700 |
81.900 |
||
|
11 |
Net Profit(+)/Loss(-) from Ordinary Activities after tax( 9-10) |
219.500 |
(378.800) |
(159.300) |
||
|
12 |
Extra Ordinary Items |
-- |
-- |
-- |
||
|
13 |
Net Profit(+)/Loss(-) for the period (1112) |
219.500 |
(378.800) |
(159.300) |
||
|
14 |
Paid-up Equity Share Capital Rs.10/ per share |
420.600 |
420.600 |
420.600 |
||
|
15 |
Reserves excluding revaluation reserves |
-- |
-- |
-- |
||
|
16 |
Earnings Per
Share |
|
|
|
||
|
(a) |
Basic and diluted EPS before Extraordinary items for the period, for
the year to date and for the previous year(not to be annualised) |
5.22 |
(9.01) |
(3.79) |
||
|
(b) |
Basic and diluted EPS after Extraordinary
items for the period, for the year to date and for the previous year(not to
be annualised) |
5.22 |
(9.01) |
(3.79) |
||
|
17 |
Public
Shareholding |
|
|
|
||
|
|
Number of Shares |
11182764 |
11182764 |
11182764 |
||
|
|
Percentage of Shareholding |
26.59 |
26.59 |
26.59 |
||
|
18 |
Promoters and Promoter group |
|
|
|
||
|
|
a) Pledged/Encumbered |
|
|
|
||
|
|
Number of shares |
3381767 |
3581767 |
3381767 |
||
|
|
Percentage of Shares (as a % of the total shareholding of promoter and
promoter group) |
10.95 |
11.60 |
10.95 |
||
|
|
Percentage of Shares (as a % of the total share capital of the
Company) |
8.04 |
8.52 |
8.04 |
||
|
|
b) Non-encumbered |
|
|
|
||
|
|
Number of shares |
27493475 |
27293475 |
27493475 |
||
|
|
Percentage of Shares (as a % of the total shareholding of promoter and
promoter group) |
89.05 |
88.40 |
89.05 |
||
|
|
Percentage of Shares (as a % of the total share capital of the
Company) |
65.37 |
64.89 |
65.37 |
||
|
|
|
|
|
|
||
|
INVESTOR COMPLAINTS |
||||||
|
|
Particulars |
3 months ended 30.06.2014 |
||||
|
|
Pending at the beginning of the quarter |
0 |
||||
|
|
Received during the quarter |
27 |
||||
|
|
Disposed off during the quarter |
25 |
||||
|
|
Remaining unresolved at the end of the quarter |
2 |
||||
UNAUDITED FINANCIAL RESULTS FOR HALF YEAR ENDED 30TH
SEPTEMBER 2014
|
SOURCES
OF FUNDS |
30.09.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
(1)Shareholders' Funds |
|
|
(a) Share Capital |
420.600 |
|
(b) Reserves & Surplus |
7431.400 |
|
(c) Money received
against share warrants |
0.000 |
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
7852.000 |
|
|
|
|
(3) Non-Current
Liabilities |
|
|
(a) long-term
borrowings |
0.000 |
|
(b) Deferred tax liabilities (Net) |
85.000 |
|
(c) Other long term
liabilities |
667.200 |
|
(d) long-term
provisions |
5.700 |
|
Total Non-current
Liabilities (3) |
757.900 |
|
|
|
|
(4) Current Liabilities |
|
|
(a) Short
term borrowings |
17433.200 |
|
(b) Trade
payables |
8981.900 |
|
(c) Other
current liabilities |
489.600 |
|
(d) Short-term
provisions |
311.700 |
|
Total Current
Liabilities (4) |
27216.400 |
|
|
|
|
TOTAL |
35826.300 |
|
|
|
|
II.
ASSETS |
|
|
(1) Non-current assets |
|
|
(a) Fixed
Assets |
|
|
(i)
Tangible assets |
3234.900 |
|
(ii)
Intangible Assets |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
|
(b) Non-current
Investments |
3289.000 |
|
(c) Deferred tax
assets (net) |
0.000 |
|
(d) Long-term Loan and Advances |
1352.000 |
|
(e) Other
Non-current assets |
50.100 |
|
Total Non-Current
Assets |
7926.000 |
|
|
|
|
(2) Current assets |
|
|
(a)
Current investments |
0.000 |
|
(b)
Inventories |
5218.000 |
|
(c) Trade
receivables |
17412.800 |
|
(d) Cash
and cash equivalents |
2388.900 |
|
(e)
Short-term loans and advances |
1888.300 |
|
(f) Other
current assets |
992.300 |
|
Total
Current Assets |
27900.300 |
|
|
|
|
TOTAL |
35826.300 |
1. Subsidy for Urea
has been accounted based on Stage III parameters of the New Pricing Scheme and
other adjustments as estimated in accordance with the known Policy parameters in
this regard. The stage III of New Pricing Scheme which was operational for the
period October 01, 2006 to March 31, 2010 was extended on provisional basis.
Department of Fertilisers have notified on April 02, 2014, modified NPS-III for
existing urea units for a period of one year ending March 2015.
2. Ammonia / Urea plants were under shutdown from April 18, 2014 onwards for
scheduled annual turnaround and re-started the operations on May 18, 2014. The
longer shutdown period was mainly to carryout jobs relating to change over of
Reformer tubes, changeover of Benefield solution from arsenic to non arsenic.
3. Tax expenses include / net-off deferred tax charge / (credit). A deferred
tax asset of Rs. 35.200 Millions has not been created in the absence of taxable
profit which is available for set off against profit in subsequent period.
4. The figures of the quarter ended March 31, 2014 were the balancing figures
between audited figures in respect of the full financial year upto March 31,
2014 and the unaudited published year to date figures upto December 31, 2013,
being the date of end of the third quarter of that financial year which were
subjected to review by the auditors.
5. (a) In accordance with Companies Act, 2013, the Company has revised the
useful life of its fixed assets except for Plant & Machinery to comply with
the useful life as mentioned under Schedule II of the Companies Act, 2013. As
per the transition provision, the Company has adjusted Rs. 43.500 Millions (net
of deferred tax of Rs. 22.400 Millions) with the opening balances of retained
earnings. Had the Company continued to follow the earlier useful life, the
depreciation expense for the period would have been lower by Rs. 2.200
Millions, loss before tax would have been lower by Rs. 2.200 Millions and the
net block of the fixed assets would have been higher by Rs. 68.100 Millions.
(b) In respect of plant and machinery, the Company is in the process of
determining the useful life of assets in accordance with Schedule II of the
Companies Act, 2013. Pending such determination, the depreciation on plant and
machinery has been provided for on the basis of rates provided in Schedule XIV
of the Companies Act, 1956.
6. In the previous financial year, Ministry of Agriculture, Government of
India, has declared 47,635 MT (Rs. 1556.100 Millions ) of DAP, imported by the
Company as not meeting the standards specified by Fertilizer Control Order,
1985 (FCO). In this quarter, out of the total quantity, based on the permission
given by Department of Fertilisers (DOF), 31,174.15 MT has been ex-ported back
and remaining material i.e. 16,460.85 MT lying in the field is being used as
raw material for non-agriculture purpose. The Company has filed claim on the
supplier for loss suffered by it as the contract with the supplier provides
that the Company has the right to claim entire amount as compensation from the
supplier in the event it is found the goods are not conforming to FCO norms by
laboratory authorized by Government of India and accordingly the Company has
considered the aforesaid amount of stock as fully realizable / recoverable.
7. Under the provision of Accounting Standard (AS 17), the Company operate in
the single segment of fertiliser operations and therefore separate segment
disclosures have not been given.
8. The auditors have conducted limited review of the financial results for the
quarter ended June 30, 2014. The un-audited financial results have been
recommended by the Audit Committee at its meeting held on July 30, 2014 and
approved by the Board of Directors at its meeting held on July 30, 2014.
9. Previous period's / year's figures have been regrouped wherever necessary.
FIXED ASSETS:
- Freehold Land
- Buildings
- Railway Siding
- Plant and Machinery
- Furniture and Fixtures
- Office Equipment
- Vehicles
- Software
PRESS RELEASE
ABU DHABI, MON, NOV 19, 2012
Indian fertiliser maker Zuari Industries has signed a memorandum of understanding to set up an $800 million manufacturing facility in the United Arab Emirates. The plant in Ras al Khaimah will produce one million tonnes of diammonium phosphate fertiliser a year when it comes onstream, Zuari's adviser on the deal, Alpen Capital, said in a statement on Sunday.
The plant will be Zuari's first manufacturing facility outside India.
Zauri and other Indian fertiliser manufacturers import most of their phosphate from Russia and the Middle East. Indian farms consumed about 7 million tonnes of DAP in the 2011 financial year.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgment or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration:
No records 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.61.41 |
|
|
1 |
Rs.98.06 |
|
Euro |
1 |
Rs.76.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
JAY |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.