MIRA INFORM REPORT

 

 

Report Date :

22.11.2014

 

IDENTIFICATION DETAILS

 

Name :

JAIN IRRIGATION SYSTEMS LIMITED

 

 

Registered Office :

Jain Plastic Park, N.H. No.6, Bambhori, Jalgaon – 425001, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

30.12.1986

 

 

Com. Reg. No.:

11-042028

 

 

Capital Investment / Paid-up Capital :

Rs.924.830 Millions

 

 

CIN No.:

[Company Identification No.]

L29120MH1986PLC042028

 

 

IEC No.:

0388080361

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

NSKJ00066D

 

 

PAN No.:

[Permanent Account No.]

AAACJ7163Q

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

Manufacturer of micro irrigation systems, piping systems and agro-processed products.

 

 

No. of Employees :

7903 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (41)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Exist

 

 

Comments :

Subject is an established company having satisfactory track record.

 

Profitability of the company has declined during financial year 2014.

 

However, the rating reflects company’s dominant market position in Micro Irrigation Systems segment supported by well diversified product offering, widespread distribution network and sound liquidity profile of the company.

 

Trade relations are fair. Business is active. Payment terms are reported to be slow but correct.

 

The company can be considered for business dealings at usual trade terms and 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

CARE

Rating

Long term bank facilities: BBB-

Rating Explanation

Moderate degree of safety and moderate credit risk.

Date

30.04.2014

 

 

Rating Agency Name

CARE

Rating

Short term bank facilities: A3

Rating Explanation

Moderate degree of safety and high credit risk.

Date

30.04.2014

 

 

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 DENIED BY

 

Name :

Mr. Shyam Juble

Designation :

Not Divulged

Contact No.:

91-22-22610011

Date :

20.11.2014

 

 

LOCATIONS

 

Registered Office/ Head/ Research and Development Center/ Factory 1 :

Jain Plastic Park, N.H. No.6, Bambhori, Jalgaon – 425001, Maharashtra, India

Tel. No.:

91-257-2258011/ 2260011/ 22

Fax No.:

91-257-2258111/ 2261111/ 22

E-Mail :

jainmumbai@jains.com

jisl@jains.com

jmt@jains.com

Website:

www.jains.com

Area :

71 Acres

Location :

Owned

 

 

Factory 2 :

Dhobikuva, Muvad, Padra, Vadodara, Gujarat, India

Tel. No.:

91-2662-267281/ 267400

Fax No.:

91-2662-267363

E-Mail :

jianbaroda@jains.com

Area :

4 Acres

Location :

Owned

 

 

Factory 3 :

Jain Hills, Jain Agri Park, Shirsoli Road, District Jalgaon – 425001, Maharashtra, India

Tel. No.:

91-257-2260033/ 44/ 2260288

Fax No.:

91-257-2261144

E-Mail :

foodpark@jains.com

Area :

236 Acres

Location :

Owned

 

 

Factory 4 :

S.No.587 and 588, Village : Kondamadgu, Mandal Bibi Nagar, District Nalgonda – 508126, Andhra Pradesh, India

Tel No. :

91-8685-277302 / 3

Fax No. :

91-8685-277305

 

 

Factory 5 :

Site No.258-90, Village Ellaymuthur, Udumalpet, District Coimbatore – 642154, Tamilnadu, India

 

Tel No. :

91-4252-278401/ 2

Fax No.:

91-4252-278403

E-Mail :

jainudumalpet@jains.com

 

 

Factory 6 :

100, Gollapalli, Village Gangadhara Mandal Nellore, District Chittoor – 517125, Andhra Pradesh, India

Tel No. :

91-8572-273703/ 202022/ 273703

Fax No.:

91-8572-273663

E-Mail :

foodchittoor1@jains.com

 

 

Factory 7 :

Avalkonda Road, Village Gangadhara, Mandal Nellore, District Chittoor – 517125, Andhra Pradesh, India

Tel No. :

91-8572-273185/ 86/ 273185/ 202033

Fax No.:

foodchittoor2@jains.com

 

 

Factory 8:

Plot No. SP-1, Matsya Industrial Area, Alwar – 301030, Rajasthan, India

Tel No. :

91-144-2881173/ 74/ 75/ 99

E-Mail :

jainalwar@jains.com

 

 

Factory 9:

Survey No.215, JIDC4, At Post Ghangali, Taluka Sihor, District Bhavnagar – 364240, Gujarat, India

Tel No.:

91-2846-294222/ 225503

E-Mail :

jainbhavnagar@jains.com

 

 

Demo and Research and Development Farm 1  : 

Jain Hills, P.O. Box: 72, Jalgaon – 425001, Maharashtra, India

 

 

Demo and Research and Development Farm 2  : 

At. Takarkheda, Post Kadholi, Taluka Erandol, District Jalgaon – 425001, Maharashtra, India

 

 

Demo and Research and Development Farm 3 : 

Angora Breeding Farm, Village Pirdi, Taluka Mahol, District Kulu, Himachal Pradesh, India

 

 

Demo and Research and Development Farm 4 : 

Site No. 258-90, Ellaymuthur Village, Udumalpet, District Coimbatore – 642154, Tamilnadu, India

 

 

Demo and Research and Development Farm 5 : 

Aarogyadham” Kasturba Nisarga Upchar Kendra, Varud Road, Kasturba Health Society, Sevagram, Wardha, Maharashtra, India

 

 

Plants in Overseas :

Jain Irrigation Inc. - (Micro Irrigation) 2851, East, Florence Avenue, Fresno, California CA.93721

 

Jain Irrigation Inc. [Winter Haven, Florida] - P.O. Box 3546, 3857 W. Lake Hamilton Dr. Winter, Haven, FL 33881

 

Chapin Watermatics, Inc. - (Micro Irrigation) 740, Water street, Water town, NY 13601.

 

Cascade Specialities Inc. - (Onion Dehydration Plant) 1 Cascade Way, Boardman, Oregon 97818, USA

 

NuCedar Mills, Inc.- (Building Products-1000 Sheridan Siding and Trim) Tom  Opar, President and CEO, Street, Chicopee, Massachusetts.01022.

 

Sleaford Quality Foods Limited [UK]- Woodbridge Road, East Road Industrial Estate, Sleaford, Lincolushire NG3471X - UK.

 

NaanDanJain Irrigation System Limited [Israel]- (Drip and Sprinkler Irrigation) Post Naan 76829, Israel.

 

NaanDanJain Irrigation System Limited [Australia] - 214-216 Hammond Road Dandenong, Victoria 3175

 

NaanDanJain Irrigation System Limited [Brazil] - Rua Biazo Vicentin No. 260, Bairro Idade Jardim, P.O. Box 175Leme SP - CEP 13614-330.

 

NaanDanJain Irrigation System Limited [Spain]- P.I. La Redonda, c/XIV nº 26 04710 Santa Maria del 􀃤GUILA – El Ejido Almer􀂿a – ESPA􀃖A

 

NaanDanJain Irrigation System Limited [Chile] - Agrosystems, S.A.Carretera San Martin 16.500, Loteo Industrial Los Libertadores – Colina

 

Jain Sulama Sistemleri Sanayi Ve Ticaret AS. [Turkey] - Krizantem Sokak No. 60, Levent Besiktas Istanbul 343330- Turyey

 

THE Machines SA - Rue de l’industries 5, CH-1462 YVONAND, Switzerland.

 

ProTool AG - Bernstrasse 52, CH-4923 Wynau, Switzerland

 

 

Laisioning Office :

7, Kumtha Street, Ballard Estate, Mumbai – 400 001, Maharashtra, India

Tel No.:

91-22-22109090/ 22610011/ 22129090/ 22670011

Fax No.

91-22-22621177/ 22641177

 

 

Regional Office and Depot :

 

Sangli-Kolhapur Road, Post Ankali, Taluka Miraj, District Sangli. - 416415, Maharashtra, India

Tel No.:

91-233-2422100

Fax No.

91-233-2422200

 

 

Regional Offices :

Located at

 

·         Ferozepur 

·         Adilabad 

·         Ahmedabad

·         Ahmednagar

·         Amravati

·         Anantapur 

·         Aurangabad 

·         Bangalore 

·         Baramati 

·         Bardoli 

·         Belgaum 

·         Bijapur 

·         Bikaner 

·         Bilaspur

·         Kutch

·         Buldhana 

·         Chamba 

·         Chandigarh 

·         Chennai 

·         Chittoor 

·         Cochin 

·         Coimbatore 

·         Cuddapah 

·         Nashik 

·         Dehradun

·         Deesa

·         East Godavari

·         Guntur 

·         Hamirpur

·         Hyderabad 

·         Indore 

·         Jalbalpur

·         Jaipur 

·         Jalgaon 

·         Jhalawad

·         Jhansi

·         Jodhpur 

·         Karimnagar 

·         Kolkata 

·         Kullu 

·         Kurnool

·         Latur

·         Lucknow

·         Madurai 

·         Sangareddy 

·         Nagpur

·         Nalgonda

·         Nanded 

·         Vizag 

·         Nellore 

·         Nizamabad

·         New Delhi

·         Palampur 

·         Solapur 

·         Vizag 

·         Patna

·         Pondicherry 

·         Pune 

·         Ranchi

·         Ratnagiri 

·         Shimla 

·         Sendhwa 

·         Sirsa 

·         Srikakulam 

·         Mandi 

·         Thane

·         Udaipur

·         Una 

·         Vadodara 

·         Vijaywada 

·         Vishakhapatnam 

·         Warangal 

·         Mohali

 

 

Overseas offices :

Located at:

 

·         USA

·         Europe

·         Australia

·         Israel

·         Sri Lanka

·         France

·         Egypt

 

 

DIRECTORS

 

AS ON 31.03.2014

 

Name :

Mr. Bhavarlal H. Jain

Designation :

Chairman

Address :

Jain House, 7/8, Suyog Colony, Near Girna Water Tank, Jalgaon – 425002, Maharashtra, India

Qualification :

B. Com., LL.B.

 

 

Name :

Mr. Ashok B. Jain

Designation :

Vice Chairman

Address:

Jain House, 7/8, Suyog Colony, Near Girna Water Tank, Jalgaon – 425002, Maharashtra, India

Qualification:

M. Com.

Experience:

30 Years

Date of Appointment :

12.01 1987

 

 

Name :

Mr. Anil Bavarlal Jain

Designation :

Managing Director

Address:

Jain House, 7/8, Suyog Colony, Near Girna Water Tank, Jalgaon – 425002, Maharashtra, India

Qualification :

B. Com., LL.B.

Experience:

28 Years

Date of Appointment :

12.01.1987

 

 

Name :

Mr. Ajit B. Jain

Designation :

Joint Managing Director

Address:

Jain House, 7/8, Suyog Colony, Near Girna Water Tank, Jalgaon – 425002, Maharashtra, India

Qualification:

B.E.

Experience:

28 Years

Date of Appointment :

11.01.1985

 

 

Name :

Mr. Atul B. Jain

Designation :

Joint Managing Director

Qualification:

B.Com

Experience:

21 Years

Date of Appointment:

25.08.2009

 

 

Name :

Mr. R. Swaminathan

Designation :

Director - Technical

Address:

Jain House, 5/B, Suyog Colony, Near Girna Water Tank, Jalgaon – 425002, Maharashtra, India

Qualification:

B. Tech (Chem)

Experience:

40 Years

 

 

Name :

Mr. Devendra Raj Mehta

Designation :

Director

Date of Appointment:

26.12.2007

 

 

Name :

Mr. Ghaneshyam Dass

Designation :

Director

 

 

 

 

Name :

Mrs. Radhika C Pereira

Designation :

Director

Address:

Dodhat Pereira and Associates, 1018, 10th Floor, Maker Chamber V, Nariman Point, Mumbai – 400021, Maharashtra, India

Qualification:

Bsc. LLB, LLM (Cambridge)

 

 

Name :

Mr. Vasant V. Warty

Designation :

Director (Nominee SBI)

 

 

Name :

Mr. Arunkumar Jain

Designation :

Director

 

 

Name :

Mr. H. P. Singh

Designation :

Additional Director Independent

 

 

 

 

KEY EXECUTIVES

 

Name :

Mr. A.V. Ghodgaonkar

Designation :

Company Secretary

 

 

Name :

Manoj L. Lodha

Designation :

President – Banking and Finance

 

 

Audit Committee:

·         Ghaneshyam Dass – Chairman

·         Vasant V Warty – Member

·         Radhika C Pereira - Member

 

 

Nomination & Remuneration Committee :

·         Vasant V. Warty – Chairman

·         Ashok B. Jain – Member

·         Ajit B. Jain – Member

·         Radhika Pereira – Member

 

 

Stakeholders Relationship Committee :

·         Radhika Pereira – Chairperson

·         Vasant V. Warty – Member

·         Ajit B. Jain – Member

 

 

Corporate Social Responsibility Committee :

·         Bhavarlal H. Jain – Chairman

·         Devendra Raj Mehta – Member

·         Radhika Pereira – Member

 

 

Operations Review Committee :

·         Ashok B. Jain – Chairman

·         Anil B. Jain – Member

·         Ajit B. Jain – Member

·         Atul B. Jain – Member

·         R. Swaminathan – Member

 

 

SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Category of Shareholder

No. of Shares

Percentage of Holding

(A) Shareholding of Promoter and Promoter Group

 

 

http://www.bseindia.com/images/clear.gif(1) Indian

 

 

Individuals / Hindu Undivided Family

1026024

5.32

http://www.bseindia.com/include/images/clear.gifBodies Corporate

4830250

25.03

http://www.bseindia.com/include/images/clear.gifSub Total

5856274

30.35

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

Total shareholding of Promoter and Promoter Group (A)

5856274

30.35

(B) Public Shareholding

 

 

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gifMutual Funds / UTI

634

0.00

http://www.bseindia.com/include/images/clear.gifFinancial Institutions / Banks

89754

0.47

http://www.bseindia.com/include/images/clear.gifForeign Institutional Investors

639526

3.31

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

50

0.00

http://www.bseindia.com/include/images/clear.gifForeign Financial Institutions / Banks

50

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

729964

3.78

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

3742465

19.40

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

Individual shareholders holding nominal share capital up to Rs.0.100 Million

5711336

29.60

Individual shareholders holding nominal share capital in excess of Rs.0.100 Million

2530943

13.12

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

723185

3.75

http://www.bseindia.com/include/images/clear.gifEmployees

117614

0.61

http://www.bseindia.com/include/images/clear.gifNon Resident Indians

209943

1.09

http://www.bseindia.com/include/images/clear.gifForeign Corporate Bodies

329445

1.71

http://www.bseindia.com/include/images/clear.gifClearing Members

64931

0.34

http://www.bseindia.com/include/images/clear.gifTrusts

1252

0.01

http://www.bseindia.com/include/images/clear.gifSub Total

12707929

65.86

Total Public shareholding (B)

13437893

69.65

Total (A)+(B)

19294167

100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued

0

0.00

http://www.bseindia.com/include/images/clear.gif(1) Promoter and Promoter Group

0

0.00

http://www.bseindia.com/include/images/clear.gif(2) Public

137

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

137

0.00

Total (A)+(B)+(C)

19294304

0.00

 

 

Shareholding of securities (including shares, warrants, convertible securities) of persons belonging to the category Promoter and Promoter Group

 

Category of Shareholder

No. of Shares

Percentage of Holding

Bhavarlal H Jain

1,32,762

0.69

Ashok Bhavarlal Jain

92,873

0.48

Jyoti Ashok Join

1,69,075

0.88

Arohi Ashok Join

13,678

0.07

Attaman Ashok Jain

2,500

0.01

Anil Bhavarlal Jain

5,684

0.03

Nisha Anil Join

76,937

0.40

Athang Anil Jain

6,638

0.03

Amoli Anil Jain

15,766

0.08

Ashuli Anil Jain

6,897

0.04

Ajit Bhavarlal Jain

4,67,010

2.42

Shobhana Ajit Jain

23,287

0.12

Abhedya Ajit Jain

4,481

0.02

Abhang Ajit Jain

2,500

0.01

Atul Bhavarlal Jain

5,436

0.03

Bhavana Atul Jain

500

0.00

Jalgaon Investments Private Limited

48,30,250

25.03

Total

58,56,274

30.35

 

 

Shareholding of securities (including shares, warrants, convertible securities) of persons belonging to the category Public and holding more than 1% of the total number of shares

 

Category of Shareholder

No. of Shares

Percentage of Holding

Max life Insurance Company Limited A/c ULIF00125/06/04LIFE

770175

3.99

Max life Insurance Company Limited A/c ULIF01108/02/07LIFE

734224

3.81

Max life Insurance Company Limited A/c ULIF01425/03/08LIFE

509851

2.64

Sanjay Ranchhodlal Shah

500000

2.59

Emerging Markets Growth Fund Inc.

342509

1.78

Saurabh Mahesh Agrawal

339462

1.76

International Finance Corporation

329445

1.71

Quant Broking Pvt. Limited

277710

1.44

Securities Holdings India Private Limited

200000

1.04

Total

4003376

20.75

 

 

 

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of micro irrigation systems, piping systems and agro-processed products.

 

 

Products :
  • Micro Irrigation Systems
  • Piping Systems
  • Agro-Processed Products

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

 

Selling :

Not Available

 

 

Purchasing :

Not Available

 

PRODUCTION STATUS - NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Not Available

 

 

Customers :

Not Available

 

 

No. of Employees :

7903 (Approximately)

 

 

Bankers :

·         Axis Bank Limited, Mumbai

·         Bank of Baroda, Mumbai

·         Canara Bank, Jalgaon

·         DBS Bank Limited, Mumbai

·         Export Import Bank of India, Mumbai

·         ICICI Bank Limited, Mumbai

·         IDBI Bank Limited, Mumbai / Pune

·         Indian Bank, Mumbai

·         Rabo Bank International, Mumbai

·         Standard Chartered Bank, Mumbai

·         State Bank of India, Mumbai / Jalgaon

·         State Bank of Patiala, Mumbai

·         Union Bank of India, Mumbai

·         Yes Bank Limited, Mumbai

 

 

Facilities :

SECURED LOANS

31.03.2014

Rs. In Millions

31.03.2013

Rs. In Millions

Long Term Borrowings

 

 

Term Loans from Banks

 

 

Canara Bank

0.000

4.000

State Bank of India (SBI)

0.000

47.800

Central Bank of India

250.000

500.000

South Indian Bank

500.000

0.000

From Financial Institutions

 

 

Foreign Currency Term Loan from Export Import Bank of India

 

 

FCL - Import Finance Program

0.000

590.790

FCL - Import Finance Program

22.130

40.070

FCL - Import Finance Program

61.740

0.000

FCL - Production Equipment

Finance Program

0.000

27.190

External Commercial Borrowings – term loan

 

 

International Finance Corporation (IFC)

327.820

445.000

International Finance Corporation

491.730

593.350

International Finance Corporation

491.730

593.350

International Finance Corporation

655.630

741.670

International Finance Corporation

1442.950

1305.340

International Finance Corporation

0.000

2773.850

FMO – Nederlandse Inancierings- Maatschappij Voor Ontwikkelingslanden N.V.

1212.420

0.000

PROPARCO - Société De Promotion

Et De Participation Pour La

Coopération Économique

1202.000

0.000

DEG - Deutsche Investitions-Und

Entwicklungsgesellschaft MBH

1502.500

0.000

Foreign currency convertible bonds

(FCCB)

3004.990

2175.570

Rupee term loans

 

 

Infrastructure company limited Solar Project

715.000

841.690

Rabo India Finance Limited

345.060

600.000

GE Capital Services India

330.000

600.000

Vehicle loans

48.460

41.300

Current maturities of long term

borrowings

(2276.220)

(2636.300)

 

 

 

Short Term Borrowings

 

 

Loans repayable on demand

 

 

Working capital loans: From consortium of banks

 

 

Working capital demand loan

1460.720

5810.410

Cash credit account

8543.180

4296.530

Export packing credit

4909.680

4104.970

 

 

 

Total

25241.520

23496.580

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Haribhakti and Company

Chartered Accountants

Address :

42, Free Press House, 4th Floor, 215, Nariman Point, Mumbai - 400021, Maharashtra, India

 

 

Solicitors :

 

Name :

Mulla and Mulla and Craigie and Blunt and Caroe,

Address :

Mulla House, 51, M.G. Road, Fort, Mumbai - 400001, Maharashtra, India

 

 

Name :

Solomon and Company

Address :

Calcot House, 3rd Floor, 8/10, M.P. Shetty Marg, (Tamarind Street), Fort, Mumbai – 400023, Maharashtra, India

 

 

Membership :

--

 

 

Subsidiary companies :

JISL Overseas Ltd., Mauritius

Jain International Trading B.V., Netherland

Sustainable Agro-Commercial Finance Ltd.

 

 

Fellow subsidiary companies - second/ multi-level :

Jain (Americas) Inc., USA

Jain (Europe) Limited, UK

Subsidiary of Jisl Overseas Limited, Mauritius

Jain Overseas B.V., Netherland

WOS of Jain International Trading B.V., Netherland

Cascade Specialties Inc., USA

Jain Irrigation Holding, Inc., USA

Subsidiary of  Jain (Americas) Inc., USA

Jain Irrigation Inc., USA

WOS of Jain Irrigation Holding, Inc., Delaware

Point Source Irrigation Inc., USA

WOS of Jain Irrigation Inc., USA

JISL Global SA, Switzerland

Jain (Israel) B.V., Netherland

Jain Sulama Sistemleri Sanayi Ve Ticaret Anonim Sirkti, Turkey

WOS of Jain Overseas B.V., Netherland

JISL Systems SA, Switzerland

WOS of JISL Global SA, Switzerland

THE Machines SA, Switzerland

WOS of JISL Systems SA, Switzerland

Pro-Tool AG, Switzerland

Subsidiary of THE Machine SA, Switzerland

Naandan Jain Irrigation Limited, Israel

WOS of Jain (Israel) B.V., Netherland

Naan Dan Agro-Pro Limited, Israel

NaanDan Jain France Sarl., France

NaanDan Jain Australia Pty Limited, Australia

NaanDan Do Brasil Participacoes Limited, Brazil

NaanDan Jain Industria E Comercio De Equipmentos Limited, Brazil

NaanDan Jain Mexico, SA De CV., Mexico

NaanDan Jain S.R.L., Italy

NaanDan Jain Iberica S.C., Spain

NaanDan Jain Peru S.A. C., Peru

Naan Dan Jain Irrigation Projects S.R.L., Romania

Subsidiary of Naandan Jain Irrigation Limited, Israel

Dansystems S.A., Chile

Joint Venture of Naandan Jain Irrigation  Limited, Israel

SQF 2009 Limited, UK

Ex-cel Plastics Limited, Ireland

Subsidiary of  Jain (Europe) Limited, UK

Sleaford Food Group Limited, UK

Sleaford Quality Foods Limited, UK

Arnolds Quick Dried Foods Limited, UK

Wholly Owned Subsidiary of  SQF 2009 Limited, UK

 

 

 

 

Companies/ Firms in which Director, Director’s relatives are Directors/ Shareholders/ Partners Companies :

·         Jain Extrusion & Molding Private Limited

·         Pixel Point Private Limited

·         Jain Vanguard Polybutelyne Limited

·         Labh Subh Securities International Limited

·         Atlaz Technology Private Limited

·         Jain Brothers Industries Private Limited

·         JAF Products Private Limited

·         Cosmos Investment & Trading Private Limited

·         Jalgaon Investment Private Limited

·         Stock & Securities (India) Private Limited

·         Jain e-agro.com India Private Limited

·         Jain Green Energy Limited

·         Aadhunik Hi Tech Agriculture Private Limited

·         Gandhi Research Foundation,

·         Kantabai Bhavarlal Jain Family Knowledge Institute

 

 

Partnership Firms :

·         Jain Computer & Allied Services,

·         Jalgaon Udyog,

·         Jalgaon Metal & Bricks Manufacturing Co.

 

 

Proprietorship :

·         PVC Trading House

·         Plastic Enterprises

·         Drip & Pipe Suppliers

·         Jain Sons & Investments Corporation

 

 

Trust :

·         Anubhuti Scholarship Foundation

·         Bhavarlal and Kantabai Jain Multipurpose Foundation

 

 

Trust Entities :

·         Jain Family Holding Trust

·         Jain Family Investment Trust

·         Jain Family Enterprises Trust

·         Jain Family Investment Management Trust

·         Jain Family Trust

 

 

Foreign Companies :

·         Jain Investments & Finance B.V., Netherland

·         Jain Overseas Investments Limited, Mauritius

 

 

CAPITAL STRUCTURE

 

As on 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

926500000

Equity Shares

Rs.2/- each

Rs.1853.000 Millions

5000000

Redeemable Preference Shares

Rs.100/- each

Rs.500.000 Millions

310000000

Differential Voting Rights Equity Shares

Rs.2/- each

Rs.620.000 Millions

 

 

 

 

 

 Total

 

Rs. 2973.000 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

435619978

Outstanding as at the beginning of the year

Rs.2/- each

Rs.871.240 Millions

7500000

Ordinary equity shares issued (Refer note (d))

Rs.2/- each

Rs.15.000 Millions

19294304

Shares issued under Differential Voting Rights Shares outstanding at the beginning of the year

Rs.2/- each

Rs.38.590 Millions

 

 

 

 

 

 Total

 

Rs.924.830 Millions

 

 

·         Rights, preferences and restrictions attached to equity shares

 

Each holder of ordinary equity shares is entitled to one vote per share. They have right to receive dividend proposed by the Board of directors and approved by the shareholders in the annual general meeting, right to receive annual report and other quarterly/half yearly/annually reports/notices and right to get new shares proportionately in case of issuance of additional shares by the company.

 

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.

 

 

·         Terms and conditions of differential voting rights (DVR)

 

The DVR equity shareholders have the same rights as the ordinary equity shares of the company except voting rights. Every 10 DVR equity shares have one voting right on poll (on show of hands however, they carry 1 vote for every person voting). Any DVR holder holding less than 10 DVR equity shares hold fractional voting rights. The DVR equity shares have right to receive full dividend, to receive annual report and other information/correspondence from time to time, to receive bonus and/or rights shares of the same class of shares as and when such an issue is made in respect of ordinary equity shares and in the same ratio and terms.

 

In case of buy back or reduction of capital of ordinary equity shares, the DVR equity shares have right subject to buyback or reduction on the same terms as ordinary equity shares. Further, in case of issue of ordinary equity shares or any other securities or assets to ordinary equity shares in case of amalgamation/demerger/ re-organisation/reconstruction, the DVR equity shares have right to receive DVR equity shares and any other securities/assets as issued to ordinary equity shares. They have right to hold separate class meeting if their rights are affected in any manner adversely.

 

 

·         The Company has allotted 75,00,000 Ordinary Equity Shares of Rs.2 each for cash at a premium of Rs.84.30 each on 20-Mar-2014 in conversion of 75,00,000 Equity Warrants of Rs.86.30 per Warrant issued on 21-Sep-2012 to Promoters Group.

 

 

·         Shareholders holding more than 5% of equity share capital/equity share capital with differential voting rights

 

Name of the Shareholder

31-Mar-2014

Ordinary equity shares

DVR

Number of

Shares

Percentage

of holding

Number of

Shares

Percentage

of holding

Jalgaon Investments Private Limited

104105000

23.49

4830250

25.03

Emerging Markets Growth Fund, Inc.

4701715

1.06

476674

2.47

MKCP Institutional Investor (Mauritius) II Limited

35154335

7.93

--

--

 

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

924.830

909.830

810.360

(b) Reserves & Surplus

22603.860

22294.980

17961.280

(c) Money received against share warrants

0.000

161.810

347.930

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

23528.690

23366.620

19119.570

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

12143.790

11779.270

9979.110

(b) Deferred tax liabilities (Net)

1396.250

1810.050

1709.870

(c) Other long term liabilities

111.970

25.340

0.000

(d) long-term provisions

57.180

46.150

36.660

Total Non-current Liabilities (3)

13709.190

13660.810

11725.640

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

14968.580

14211.910

15800.030

(b) Trade payables

11000.390

11688.860

11744.540

(c) Other current liabilities

4597.560

4202.660

4198.750

(d) Short-term provisions

354.730

329.500

509.850

Total Current Liabilities (4)

30921.260

30432.930

32253.170

 

 

 

 

TOTAL

68159.140

67460.360

63098.380

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

19831.050

19584.650

17716.900

(ii) Intangible Assets

192.680

140.150

141.950

(iii) Capital work-in-progress

207.040

599.060

1773.850

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

7310.930

7003.210

4307.400

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

2530.940

1967.260

1720.850

(e) Other Non-current assets

1036.350

1694.750

1075.550

Total Non-Current Assets

31108.990

30989.080

26736.500

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

11730.810

11570.430

8011.960

(c) Trade receivables

14846.960

15986.790

20286.080

(d) Cash and cash equivalents

1219.410

1716.940

2811.730

(e) Short-term loans and advances

5852.140

3951.680

2402.390

(f) Other current assets

3400.830

3245.440

2849.720

Total Current Assets

37050.150

36471.280

36361.880

 

 

 

 

TOTAL

68159.140

67460.360

63098.380

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

41331.120

35109.480

37810.920

 

 

Other Income

444.020

503.940

312.990

 

 

TOTAL                                    

41775.140

35613.420

38123.910

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of materials consumed

25441.040

21687.810

20540.810

 

 

Changes in inventories of finished goods and work in progress

(196.150)

(1294.050)

640.070

 

 

Employee benefit expenses

2301.990

1737.360

1721.860

 

 

Other expenses

7343.280

6754.660

7253.040

 

 

Exceptional Items

1864.760

934.190

0.000

 

 

TOTAL                                    

36754.920

29819.970

30155.780

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

5020.220

5793.450

7968.130

 

 

 

 

 

Less

FINANCIAL EXPENSES                       

3908.430

4111.540

4234.770

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION

1111.790

1681.910

3733.360

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION                    

1412.640

1195.170

1007.270

 

 

 

 

 

 

PROFIT BEFORE TAX

(300.850)

486.740

2726.090

 

 

 

 

 

Less

TAX                                                                 

(339.880)

185.680

43.100

 

 

 

 

 

 

PROFIT AFTER TAX

39.030

301.060

2682.990

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

8345.490

8340.660

6628.580

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Transfer to General Reserve

27.100

30.110

500.000

 

 

Proposed Equity Dividend

231.210

227.460

405.180

 

 

Provision for Dividend Tax on Equity Dividend

39.290

38.660

65.730

 

BALANCE CARRIED TO THE B/S

8086.920

8345.490

8340.660

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

FOB Value of Exports (on the basis of bill of lading)

9229.930

6113.230

6348.290

 

TOTAL EARNINGS

9229.930

6113.230

6348.290

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials, Components and Stores and Spares

5277.890

5010.570

6288.910

 

 

Capital Goods

649.840

301.130

1858.230

 

TOTAL IMPORTS

5927.730

5311.700

8147.140

 

 

 

 

 

 

Earnings Per Share (Rs.)

0.09

0.70

6.62

 

 

QUARTERLY RESULTS

(Rs. In Millions)

Particulars

 

 

30.06.2014

(Unaudited)

30.09.2014

(Unaudited)

 

 

1st Quarter

2nd Quarter

Net Sales

 

10136.500

8237.800

Total Expenditure

 

8578.500

6990.700

PBIDT (Excl OI)

 

1558.000

1247.100

Other Income

 

79.700

53.300

Operating Profit

 

1637.700

1300.400

Interest

 

990.200

980.700

Exceptional Items

 

0.000

(162.800)

PBDT

 

647.500

156.900

Depreciation

 

461.600

442.500

Profit Before Tax

 

185.900

(285.600)

Tax

 

24.700

(91.400)

Profit After Tax

 

161.200

(194.200)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

PAT / Sales

(%)

0.09

0.86

7.10

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

12.15

16.50

21.07

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

(0.50)

0.81

4.78

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.01)

0.02

0.14

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.15

1.11

1.35

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.20

1.20

1.13

 

 

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

810.360

909.830

924.830

Reserves & Surplus

17961.280

22294.980

22603.860

Net worth

18771.640

23204.810

23528.690

 

 

 

 

long-term borrowings

9979.110

11779.270

12143.790

Short term borrowings

15800.030

14211.910

14968.580

Total borrowings

25779.140

25991.180

27112.370

Debt/Equity ratio

1.373

1.120

1.152

 

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

37810.920

35109.480

41331.120

 

 

(7.145)

17.721

 

 

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

37810.920

35109.480

41331.120

Profit

2682.990

301.060

39.030

 

7.10%

0.86%

0.09%

 

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

Yes

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

Yes

10]

Designation of contact person

No

11]

Turnover of firm for last three years

Yes

12]

Profitability for last three years

Yes

13]

Reasons for variation <> 20%

-----------

14]

Estimation for coming financial year

No

15]

Capital in the business

Yes

16]

Details of sister concerns

Yes

17]

Major suppliers

No

18]

Major customers

No

19]

Payments terms

No

20]

Export / Import details (if applicable)

No

21]

Market information

----------

22]

Litigations that the firm / promoter involved in

Yes

23]

Banking Details

Yes

24]

Banking facility details

Yes

25]

Conduct of the banking account

----------

26]

Buyer visit details

----------

27]

Financials, if provided

Yes

28]

Incorporation details, if applicable

Yes

29]

Last accounts filed at ROC

Yes

30]

Major Shareholders, if available

Yes

31]

Date of Birth of Proprietor/Partner/Director, if available

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:

 

 

HIGH COURT OF BOMBAY

 

Case Details

 

 

Bench:-Bombay

 

 

Presentation Date:- 08/10/2014

 

 

 

Lodging No.:-

OTSL/20/2014

Filing Date:-

08/10/2014

Reg. No.:-

OTS/20/2014

Reg. Date:-

08/10/2014

 

 

Main Matter

 

 

Lodging No.:-

CSPL/380/2014

Reg. No.:-

CSP/370/2014

 

 

 

 

Petitioner:-

ARSHIYA INDUSTRIAL AND DISTRIBUTION HUB

Respondent:-

JAIN IRRIGATION SYSTEMS LIMITED (UNSECURED)

 

 

 

 

Resp.Adv.:-

SOLOMON AND COMPANY (0)

 

 

 

District:-

MUMBAI

 

 

 

 

Bench:-

SINGLE

 

 

 

 

Status:-

Pre-Admission

Category:-

COMPANY PETITION U/SEC 391 to 394 COMPANIES ACT

 

 

 

 

Act :-

Companies Act & Rules 1956

Under Section:-

391-394

 

 

 

 

UNSECURED LOAN:

 

Particulars

31.03.2014

Rs. In Millions

31.03.2013

Rs. In Millions

Long Term Borrowings

 

 

Andhra Bank

0.000

450.000

External Commercial Borrowings

 

 

Deferred credit from supplier

 

 

UBS AG

39.680

119.040

UBS AG

199.530

283.760

UBS AG

348.840

372.070

UBS AG

409.310

426.860

UBS AG

818.490

838.080

Best NV

0.000

4.790

 

 

 

Short Term Borrowings

 

 

Other loan

55.000

0.000

 

 

 

Total

1870.850

2494.600

 

 

 

 

 

OPERATIONS - STANDALONE

 

The overall operating income and revenue was at Rs.41,331 Mn for year ended March 31, 2014 a growth of 17.7% over last year’s level of Rs. 35,109 Mn. The Hi-Tech Agri Irrigation Input products reported a 14.5% growth at Rs. 26,612.5 Mn in FY 2014 against Rs. 22,798.2 Mn in FY 2013. The Industrial products division grew at a better 34.5% reporting revenue at Rs. 13,448.9 Mn in FY 2014 against Rs. 10,002.1 Mn in FY 2013. The Green Energy products de-grew 23.3% due to conscious management decision to concentrate on cash flow rather than revenue growth and reported revenue of the Rs. 1,769.7 Mn as against Rs. 2,309.2 Mn for FY 2013.

 

Revenue for the year under review grew by 17.7% over year ago, supported by PE Pipes 61.8%, Fruit Processing 24.1% & MIS 20%. The Net Profit at Rs. 39 Mn against Rs. 301 Mn last year was impacted by the foreign exchange losses resulting from depreciating rupee and MTM loss of Rs. 1,975.5 Mn against Rs. 934.2 Mn in previous year

 

 

MANAGEMENT DISCUSSION AND ANALYSIS

 

OVERALL ECONOMIC SCENARIO

 

The growth slowdown in the last year was broad based, affecting in particular the manufacturing sector. Inflation too moderated during the year, but continued to be above the comfort zone, owing primarily to the elevated level of food inflation. What is particularly worrisome is the slowdown in manufacturing growth that averaged 0.2% per annum in 2013-14. The recent general elections have for the first time thrown up a decisive mandate after more than 2 decades and this is a harbinger of great things to come in future years of the present Government.

 

The steps taken so far are baby steps but have instilled a positive confidence about good governance from the new Prime Minister. Yet, the developments on macro stabilization front, particularly the dramatic improvement in the external economic situation with the current account deficit (CAD) declining to manageable levels after two years of worryingly high levels was the redeeming feature of 2013-14.

 

The fiscal deficit of the Centre as a proportion of GDP also declined for the second year in a row as per the announced medium term policy stance. Reflecting the above and the expectations of a change for the better, financial markets have surged.

 

Moderation in inflation would help ease the monetary policy stance and revive the confidence of investors, and with the global economy expected to recover moderately particularly on account of performance in some advanced economies, the economy can look forward to better growth prospects in 2014-15 and beyond.

 

India’s growth declined from an average of 8.3% per annum during 2004-05 to 2011-12 to an average of 4.6% in 2013-14. In addition to the growth slowdown, inflation continued to pose significant challenges. Fortunately, the upward trend of inflation that played a part in slowdown in growth, savings, investment, and consumption, appears to have subsided.

 

Aided by favourable monsoons, the agricultural and allied sectors achieved a growth of 4.7% in 2013-14 compared to its long-run average of around 3%. The Agricultural and Processed Food Products Export Development Authority (APEDA) declared in its export report that there was overall positive growth of 17.46% in agricultural sector.

 

During 2013-14, total FDI inflows were $36.4 billion. FDI equity inflows were $ 24.3 billion, showing an increase of

8% as compared to the precious year. Net FDI inflows were $21.6 billion during 2013-14. In recent years, services, construction, telecommunications, computer software and hardware, drugs and pharmaceuticals, automobile industry, power, metallurgical industries, hotels and tourism are sectors that have attracted maximum FDI inflows.

 

 

OVERVIEW OF BUSINESS

 

Jain Irrigation Systems Limited (JISL) or (Jains) is the flagship Company with 14 subsidiary operating companies (including 2nd step subsidiaries) with diverse businesses across the globe and aggregate revenues of Rs. 60 Billion.

 

The Company is a leading agri-business Company, present in the entire value chain. It is the second largest micro irrigation Company globally and is largest manufacturer of micro irrigation systems in India. It is also the largest manufacturer of Mango pulp, puree and concentrate in the world and the third largest manufacturer of dehydrated onions. JISL is also India’s largest manufacturer of polyethylene pipes, leading PVC pipe manufacture and is furthermore the largest manufacturer of Tissue Culture banana plants in the world. JISL is additionally into hybrid & grafted plants; greenhouses, poly and shade houses, bio-fertilizers, biogas and green energy (solar), solar water heating systems, solar panels, solar water pumps and plastic sheets.

 

Many of these plants are ISO 50000 & HACCP certified and meet International FDA statute requirements. JISL renders consultancy for complete or partial project planning and implementation e.g. watershed or wasteland and/or crop selection and rotation. Over the past few years JISL has done a few of acquisitions and merged a few companies. All acquisitions and mergers have been a strategic fit with the intent of strengthening the business and increasing reach in every segment.

 

Each of our products is an outcome of an effort to conserve nature’s precious resources through substitution or value addition. This is the legacy of a deliberate and conscious endeavour that stems from a deep-rooted concern for nature with same intensity for development and growth of agriculture, resulting in higher income for farmers.

STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER / HALF YEAR ENDED 30TH SEPTEMBER 2014

 

 (Rs. In Millions)

Particulars

3 Months Ended

3 Months Ended

Half Year Ended

 

30.09.2014

30.06.2014

30.09.2014

 

UNAUDITED

1. Income from operations

 

 

 

a) Net sales/ Income from operation (net of excise duty)

8067.800

9907.200

17975.000

b) Other operating income

170.000

229.300

399.300

Total income from Operations(net)

8237.800

10136.500

18374.300

2.Expenditure

 

 

 

a) Cost of material consumed

5392.600

7640.900

13033.500

b) Purchases of stock in trade

--

--

--

c) Changes in inventories of finished goods, work-in-progress and stock-in-trade

(849.700)

(1545.900)

(2395.600)

d) Employees benefit expenses

617.100

585.200

1202.300

e) Depreciation and amortization expenses

442.500

461.600

904.100

f) Other expenditure

1830.700

1898.300

3729.000

Total expenses

7433.200

9040.100

16473.300

3. Profit from operations before other income and financial costs

804.600

1096.400

1901.000

4. Other income

53.300

79.700

133.000

5. Profit from ordinary activities before finance costs

857.900

1176.100

2034.000

6. Finance costs

908.700

990.200

1970.900

7. Net profit/(loss) from ordinary activities after finance costs but before exceptional items

(122.800)

185.900

63.100

8. Exceptional Items

162.800

--

162.800

9. Profit from ordinary activities before tax Expense:

(285.600)

185.900

(99.700)

10.Tax expenses

(91.400)

24.700

(66.700)

11.Net Profit / (Loss) from ordinary activities after tax (9-10)

(194.200)

161.200

(33.000)

12.Extraordinary Items (net of tax expense)

--

--

--

13.Net Profit / (Loss) for the period (11 -12)

(194.200)

161.200

(33.000)

14.Paid-up equity share capital (Nominal value Rs.10/- per share)

924.800

924.800

924.800

15. Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year

 

 

 

16.i) Earnings per share (before extraordinary items) of Rs.10/- each) (not annualised):

 

 

 

(a) Basic and diluted

(0.42)

0.35

(0.07)

 

 

 

 

A. Particulars of shareholding

 

 

 

1. Public Shareholding

 

 

 

- Number of Ordinary Equity shares

316005567

316005567

316005567

- Percentage of Ordinary Equity shareholding

71.31

71.31

71.31

 

 

 

 

- Number of DVR share holding

13438030

13438030

13438030

- Percentage of DVR shareholding

69.65

69.65

69.65

 

 

 

 

2. Promoters and Promoters group Shareholding-

 

 

 

a) Pledged /Encumbered

 

 

 

Number of shares

39013905

28237905

39013905

Number of Ordinary Equity shares (as a % of total shareholding of the promoter and promoter group)

30.69

22.21

30.69

Percentage of Ordinary Equity shareholding (as a % of total Ordinary equity capital of the company)

8.80

6.37

8.80

- Number of DVR share holding

559830

559830

559830

- Percentage of DVR shareholding (as a % of total shareholding of the promoter and promoter group)

9.56

9.56

9.56

- Percentage of DVR shareholding (as a % of total DVR Capital of Company)

2.90

2.90

2.90

 

 

 

 

b) Non  Encumbered

 

 

 

Number of shares

88100506

98876506

88100506

Number of Ordinary Equity shares (as a % of total shareholding of the promoter and promoter group)

69.31

77.79

69.31

Percentage of Ordinary Equity shareholding (as a % of total Ordinary equity capital of the company)

19.88

20.31

19.88

- Number of DVR share holding

5296444

5296444

5296444

- Percentage of DVR shareholding (as a % of total shareholding of the promoter and promoter group)

90.44

90.44

90.44

- Percentage of DVR shareholding (as a % of total DVR Capital of Company)

27.45

27.45

27.45

 

 

 

 

 

B. Investor Complaints

 

 

Pending at the beginning of the quarter

--

 

Receiving during the quarter

1

 

Disposed of during the quarter

1

 

Remaining unreserved at the end of the quarter

--

 

 

 

SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED AGREEMENT FOR THE QUARTER / HALF YEAR ENDED 30TH SEPTEMBER 2014

 

 (Rs. In Millions)  

Particulars

3 Months Ended

3 Months Ended

Half Year Ended

 

30.09.2014

30.06.2014

30.09.2014

 

UNAUDITED

1. Segment Revenue

 

 

 

a) Hi-tech Agri Input Products

5367.000

6994.800

12361.800

b) Industrial Products

2491.700

2975.800

5467.500

c) Green Energy

379.100

165.900

545.000

Total segment revenue

8237.800

10136.500

18374.300

 

 

 

 

2. Segment Results

 

 

 

Profit/ (loss) before tax and interest

 

 

 

a) Hi-tech Agri Input Products

904.900

991.900

1896.800

b) Industrial Products

337.200

477.900

815.100

c) Green Energy

27.600

26.700

54.300

Total segment results

1269.700

1496.500

2766.200

(Add)/Less: Finance Costs

980.700

990.200

1970.900

Other un-allocable expenditure net off un-allocable other operating income

411.800

320.400

732.200

Total Profit Before Tax/ Exceptional Items

(122.800)

185.900

63.100

Less: Exceptional Items

162.800

--

162.800

Profit Before Tax

(285.600)

185.900

(99.700)

3. Capital Employed

 

 

 

(Segment Assets – Segment Liabilities)

 

 

 

a) Hi-tech Agri Input Products

26395.900

23448.000

26395.900

b) Industrial Products

11659.300

11131.600

11659.300

c) Green Energy

3597.800

3793.800

3597.800

d) Other Unallocated

(18344.800)

(14871.000)

(18344.800)

Total Capital Employed

23308.200

23502.400

23308.200

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

STANDALONE STATEMENT OF ASSTES AND LIABILITIES AS ON 30.09.2014

 

Rs. In Millions

SOURCES OF FUNDS

 

 

 

30.09.2014

(Unaudited)

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

 

924.800

(b) Reserves & Surplus

 

 

22383.400

(c) Pending Call Money

 

 

0.000

Sub-total Shareholders’

 

 

23308.200

 

 

 

 

(2) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

 

12722.700

(b) Deferred tax liabilities (Net)

 

 

1328.500

(c) Other long term liabilities

 

 

169.100

(d) long-term provisions

 

 

65.800

Sub-total of Non-Current liabilities

 

 

14286.100

 

 

 

 

(3) Current liabilities

 

 

 

(a) Short term borrowings

 

 

17314.500

(b) Trade payables

 

 

9657.600

(c) Other current liabilities

 

 

4624.600

(d) Short-term provisions

 

 

370.300

Sub-total of Current liabilities

 

 

31967.000

 

 

 

 

TOTAL

 

 

69561.300

 

 

 

 

II.             ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

19641.500

(b) Non-Current investments

 

 

7313.500

(c) Long term loans and advances

 

 

2749.900

(d) Other non-current assets

 

 

1023.400

Sub-total of Non-Current Assets

 

 

30728.300

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

 

0.000

(b) Inventories

 

 

14150.000

(c) Trade receivables

 

 

14689.400

(d) Cash and cash equivalents

 

 

206.300

(e) Short-term loans and advances

 

 

6467.300

(f) Other current assets

 

 

3320.000

Sub-total of Current Assets

 

 

38533.000

 

 

 

 

TOTAL

 

 

69561.300

 

NOTES:

 

1.     The above results have been taken on record at a meeting by the Audit Committee and the Board of Directors of the Company on November 10, 2014, the statutory auditor has conducted Limited Review as required under Clause 41 of the Listing Agreement of Stock Exchange.

 

2.     The Management of the Company has identified tangible fixed assets and has reviewed / determined their remaining useful lives. Further, in respect of plant and equipments, the Management is evaluating useful life of significant components, impact of which, if any, would be accounted for in subsequent quarters. Accordingly, the depreciation on tangible fixed assets (except that on significant components) is provided for in accordance with the provisions of Schedule II to the Companies Act, 2013. In respect of assets where the remaining useful life is ‘Nil’, their carrying amount (net of tax effect) of Rs. 123.700 Millions after retaining the residual value as on April 01, 2014 as determined by the Management has been adjusted against the opening balance of retained earnings as on that date. On account of the above change, depreciation for the current quarter is higher by Rs. 81.400 Millions. This being a technical matter, has been relied upon by the auditors.

 

3.     Exceptional items represents foreign exchange rate difference for earlier quarter/year.

 

4.     The figures have been regrouped, rearranged, reclassified or reworked as necessary to conform to the current year accounting treatment.

 

5.     With effect from November 01, 2014 the Company has appointed Link Intime India P, C-13, Pannalal Silk Mills Compound, L.B.S. Marg, Bhandup (West) Mumbai - 400 078. Phone 91 22 25946970, Fax 91 22 25946969, mail rnt.helpdesk@linkintime.co.in, web site www.linkintime.co.in as Registrar and Transfer Agent (RTA) in replacement of Bigshare Services Private Limited, E-2/3, Ansa Industrial Estate, Sakivihar Road, Saki Naka, Andheri (E), Mumbai - 400 072.

 

INDEX OF CHARGE:

 

Sr. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10526651

17/09/2014

1,500,000,000.00

PUNJAB NATIONAL BANK

LARGE CORPORATE BRANCH,MAKER TOWER E,, GROUND FLOOR, CUFFE PARADE,, MUMBAI, MAHARASHTRA - 400005, INDIA

C30295273

2

10520994

28/08/2014

701,000,000.00

IDBI BANK LIMITED

IDBI TOWER, WORLD TRADE COMPLEX,, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C21535414

3

10504924

26/06/2014

1,000,000,000.00

IFCI LIMITED

IFCI TOWER,, 61, NEHRU PLACE, NEW DELHI, DELHI -110019, INDIA

C08078933

4

10506030

14/10/2014 *

29,700,000,000.00

IDBI TRUSTEESHIP SERVICES LIMITED

ASIAN BUILDING, GROUND FLOOR, 17, R KAMANI MARG, 
BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA

C28847374

5

10489314

26/03/2014

1,500,000,000.00

SYNDICATE BANK

LARGE CORPORATE BRANCH, 3RD FLOOR, 10 HOMJI STREET, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA

C03646916

6

10464307

24/02/2014 *

1,500,000,000.00

THE SOUTH INDIAN BANK

EMCA HOUSE, GROUND FLOOR,, 289, S B SINGH ROAD, FORT, MUMBAI, MAHARASHTRA - 400038, INDIA

C04171666

7

10458956

17/09/2013

66,538,500.00

EXPORT IMPORT BANK OF INDIA

CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE, MUMBAI, MAHARASHTRA - 400005, INDIA

B89056089

8

10444400

25/07/2013

411,180,000.00

EXPORT-IMPORT BANK OF INDIA

CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE 
COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

B82776915

9

10434071

22/05/2013

5,686,708.00

SREI EQUIPMENT FINANCE PRIVATE LIMITED

'VISHWAKARMA', 86C, TOPSIA ROAD,, KOLKATA, WEST BE 
NGAL - 700046, INDIA

B78398179

10

10433110

22/05/2013

1,016,016,000.00

EXPORT-IMPORT BANK OF INDIA

CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE 
COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

B77997740

11

10424122

06/05/2013

500,000,000.00

IDBI BANK LIMITED

IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

B74567736

12

10419002

21/04/2014 *

4,831,810,000.00

IDBI TRUSTEESHIP SERVICES LIMITED

ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001, INDIA

C03557360

13

10415976

21/03/2013

789,000,000.00

CANARA BANK

VISANJI NAGAR, JALGAON, MAHARASHTRA - 425001, INDIA

B72052277

14

10402588

08/02/2013

600,000,000.00

RABO INDIA FINANCE LIMITED

GF/A-03 B, GROUND FLOOR,, BUILDING NO. 9, TOWER A, DLF CYBER CITY, PHASE-III, GURGAON, HARYANA - 122002, INDIA

B67936245

15

10406496

29/01/2013

1,561,000,000.00

IDBI BANK LIMITED

IDBI BANK LTD, CBG, 2ND FLR, PRIDE HOUSE,, UNIVERSITY RD,GANESHKHIND, NR UNIVERSITY CIRCLE,, PUNE, MAHARASHTRA - 411016, INDIA

B68993385

16

10443248

15/12/2012

7,025,000.00

SREI EQUIPMENT FINANCE PRIVATE LIMITED

'VISHWAKARMA', 86C, TOPSIA ROAD,, KOLKATA, WEST BENGAL - 700046, INDIA

B76468966

17

10389316

09/11/2012

700,000,000.00

IDBI BANK LIMITED

IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

B63097737

18

10382902

24/09/2012

531,000.00

CENTRAL BANK OF INDIA

REGIONAL OFFICE, KALA BHAVAN, VIDYUT COLONY, DHUL 
IA ROAD, JALGAON, MAHARASHTRA - 425001, INDIA

B60620572

19

10382878

10/09/2012

2,006,977.00

CENTRAL BANK OF INDIA

REGIONAL OFFICE, KALA BHAVAN, VIDYUT COLONY, DHULIA ROAD, JALGAON, MAHARASHTRA - 425001, INDIA

B60608742

20

10382880

04/09/2012

6,369,295.00

CENTRAL BANK OF INDIA

REGIONAL OFFICE, KALA BHAVAN, VIDYUT COLONY, DHULIA ROAD, JALGAON, MAHARASHTRA - 425001, INDIA

B60609302

21

10374545

03/08/2012

4,270,000.00

SREI EQUIPMENT FINANCE PRIVATE LIMITED

'VISHWAKARMA', 86C, TOPSIA ROAD,, KOLKATA, WEST BENGAL - 700046, INDIA

B57302168

22

10368538

09/07/2012

903,000,000.00

IDFC LIMITED

KRM TOWER, 8TH FLOOR,, NO. 1, HARRINGTON ROAD, CHETPET, CHENNAI, TAMIL NADU - 600031, INDIA

B44910925

23

10344303

28/03/2012

750,000,000.00

GE CAPITAL SERVICES INDIA

AIFCS BUILDING,IST FLOOR,, 1,RAFI MARG,, NEW DELHI, DELHI - 110001, INDIA

B35828672

24

10352906

21/03/2012

500,000,000.00

YES BANK LIMITED

9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR.ANNIE BESANT ROAD, WORLI,, MUMBAI, MAHARASHTRA - 400018, INDIA

B38658605

25

10352487

13/03/2012

1,000,000,000.00

YES BANK LIMITED

9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. ANNIE BESANT ROAD, WORLI,, MUMBAI, MAHARASHTRA - 400018, INDIA

B38497913

26

10352908

13/03/2012

1,000,000,000.00

YES BANK LIMITED

9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR.ANNIE BESANT ROAD, WORLI,, MUMBAI, MAHARASHTRA - 400018, INDIA

B38658910

27

10308502

28/09/2011

903,000,000.00

INFRASTRUCTURE DEVELOPMENT FINANCE COMPANY LIMITED

KRM TOWER, 8TH FLOOR,, NO. 1, HARRINGTON ROAD, CHETPET, CHENNAI, TAMIL NADU - 600031, INDIA

B21689567

28

10311557

30/08/2011

750,000,000.00

SICOM LIMITED

SOLITAIRE CORPORATE PARK, BUILDING NO.4, ANDHERI KURLA ROAD, CHAKALA, ANDHERI (EAST), MUMBAI, MAHARASHTRA - 400093, INDIA

B23094006

29

10303480

11/10/2014 *

20,373,700,000.00

STATE BANK OF INDIA

CORPORATE ACCOUNT GROUP II, "THE CAPITAL", A WING, 
16TH FLOOR, BANDRA KURLA COMPLEX, BANDRA (EAST), 
MUMBAI, MAHARASHTRA - 400051, INDIA

C26919571

30

10290362

06/09/2011 *

1,000,000,000.00

CENTRAL BANK OF INDIA

CORPROATE FINANCE BRANCH,1ST FLOOR, M.M.O.BUILDING, M.G ROAD, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA

B20587127

31

10285465

21/04/2011

664,500,000.00

INTERNATIONAL FINANCE CORPORATION

2121 PENNSYLVANIA AVENUE, N.W., WASHINGTON, D C 20433, WASHINGTON, - 20433, UNITED STATES OF AMERICA

B12235453

32

10289273

21/04/2011

664,500,000.00

INTERNATIONAL FINANCE CORPORATION

2121 PENNSYLVANIA AVENUE, N.W., WASHINGTON, D C 2 
0433, WASHINGTON, - 20433, UNITED STATES OF AMERICA

B12235198

33

10280910

15/04/2011

500,000,000.00

AXIS BANK LTD

JEEVAN PRAKASH BUILDING, SIR. P. M. ORAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B10644706

34

10211218

17/06/2013 *

841,350,000.00

STANDARD CHARTERED BANK

CRESCENZO, 7TH FLOOR, C-38-39, G- BLOCK, BEHIND M 
CA CLUB, BKC, BANDRA (E, MUMBAI, MAHARASHTRA - 400051, INDIA

B79969432

35

10203974

23/02/2010

691,950,000.00

INTERNATIONAL FINANCE CORPORATION

2121 PENNSYLVANIA AVENUE, N.W., WASHINGTON, D.C. 
20433, WASHINGTON, - 20433, UNITED STATES OF AMERICA

A79871901

36

10203975

23/02/2010

691,950,000.00

INTERNATIONAL FINANCIAL CORPORATION

2121 PENNSYLVANIA AVENUE, N W, WASHINGTON, D.C. 20433, WASHINGTON, - 20433, UNITED STATES OF AMERICA

A79872636

37

10203973

31/05/2011 *

695,550,000.00

EXPORT IMPORT BANK OF INDIA

CENTRE ONE BUILDING, FLOOR 21,, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE,, MUMBAI, MAHARASHTRA - 400005, INDIA

B16624850

38

10178343

31/05/2011 *

120,525,000.00

EXPORT IMPORT BANK OF INDIA

CENTRE ONE BUILDING, FLOOR 21,, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE,, MUMBAI, MAHARASHTRA - 400005, INDIA

B16624140

39

10155942

06/05/2009

742,500,000.00

INTERNATIONAL FINANCE CORPORATION

2121 PENNSYLVANIA AVENUE, N. W., WASHINGTON, D.C. 
20433, WASHINGTON, - 20433, UNITED STATES OF AMERICA

A61768685

40

10158859

06/05/2009

742,500,000.00

INTERNATIONAL FINANCE CORPORATION

2121 PENNSYLVANIA AVENUE, N W, WASHINGTON, D.C. 20433, WASHINGTON, - 20433, UNITED STATES OF AMERICA

A61768164

41

10129847

26/09/2008

13,600,000.00

CANARA BANK

VISANJI NAGAR, JALGAON, MAHARASHTRA - 425001, INDIA

A50411958

42

10114667

04/07/2008

641,850,000.00

INTERNATIONAL FINANCE CORPORATION

2121 PENNSYLVANIA AVENUE, N.W., WASHINGTON, WASHI 
NGTON, - 20433, UNITED STATES OF AMERICA

A42436188

43

10114857

04/07/2008

641,850,000.00

INTERNATIONAL FINANCE CORPORATION

2121 PENNSYLVANIA AVENUE, N W, WASHINGTON, D.C. 20433, WASHINGTON, - 20433, UNITED STATES OF AMERICA

A42488700

44

10306942

07/03/2008

320,000,000.00

STANDARD CHARTERED BANK

90, M.G. ROAD,, FORT,, MUMBAI, MAHARASHTRA - 400001, INDIA

A70551023

45

10075526

19/10/2007

200,000,000.00

EXPORT IMPORT BANK OF INDIA

CENTRE ONE BUILDING, FLOOR 21,, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE,, MUMBAI, MAHARASHTRA - 400005, INDIA

A26655829

46

10061282

26/07/2007

5,600,000.00

CANARA BANK

VISANAJI NAGAR, JALGAON, MAHARASHTRA - 425001, INDIA

A19517663

47

10065679

07/03/2008 *

210,000,000.00

EXPORT IMPORT BANK OF INDIA

CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

A38883344

48

10053625

24/05/2007

500,000,000.00

EXPORT IMPORT BANK OF INDIA

CENTRE ONE BUILDING, FLOOR21, WORLD TRADE CENTRE 
COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

A15982119

49

10051530

25/04/2007

150,000,000.00

EXPORT-IMPORT BANK OF INDIA

CENTRE ONE BUILDING, FLOOR 21,, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

A15371610

50

10038858

07/03/2008 *

354,400,000.00

EXPORT IMPORT BANK OF INDIA

CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

A38883435

51

10044639

09/02/2007

100,000,000.00

EXPORT IMPORT BANK OF INDIA

CENTRE ONE BUILDING, FLOOR21, WORLD TRADE CENTRE 
COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

A11406402

52

80006684

18/05/2006 *

200,000,000.00

EXPORT-IMPORT BANK OF INDIA

CENTRE ONE BUILDING, FLOOR - 21,, WORLD TRADE CENTRE, CUFFE PARADE,, MUMBAI, MAHARASHTRA - 400005, INDIA

-

53

80002834

23/03/2006 *

300,000,000.00

UTI BANK LIMITED

CENTRAL OFFICE : MAKER TOWERS, "F", 13TH FLOOR, CUFFE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA

-

54

80017394

31/01/2005

86,800,000.00

EXPORT IMPORT BANK OF INDIA

WTC, CENTER 1, CUFFE PARADE, MUMBAI, MAHARASHTRA 
- 400005, INDIA

-

55

80017395

31/01/2005

91,200,000.00

EXPORT IMPORT BANK OF INDIA

WTC, CENTER1, CUFFE PARADE, MUMBAI, MAHARASHTRA - 
400005, INDIA

-

56

80016022

31/03/2003

40,000,000.00

EXPORT IMPORT BANK OF INDIA

CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

-

57

80016018

31/03/2003

53,800,000.00

EXPORT IMPORT BANK OF INDIA

CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

-

58

80017401

31/03/2003

60,000,000.00

EXPORT IMPORT BANK OF INDIA

WTC, CENTER 1, MUMBAI, MAHARASHTRA - 400005, INDIA

-

 

*Date of modification Charges

 

 

 

FIXED ASSETS:

 

v  TANGIBLE ASSETS

·         Free hold land

·         Lease hold land

·         Factory buildings and godowns

·         Green/poly/shed houses

·         Plant and equipment’s

·         Furniture and fixtures

·         Office equipment

·         Vehicles

·         Orchard activities

·         Live stock

 

v  INTANGIBLE ASSETS

·         Goodwill

·         Product development

·         Computer software

·         Technical knowhow

·         Non-compete fees

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.85

UK Pound

1

Rs.97.01

Euro

1

Rs.77.62

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

KRN

 

 

Report Prepared by :

NKT

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

2

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

4

--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

 

41

 

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

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.