MIRA
INFORM REPORT
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Report Date : |
24.11.2014 |
IDENTIFICATION DETAILS
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Name : |
DCM SHRIRAM LIMITED |
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Formerly Known
As : |
DCM SHRIRAM CONSOLIDATED LIMITED FINPRO SOLUTIONS PRIVATE LIMITED |
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Registered
Office : |
5th Floor, |
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Country : |
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Financials (as on)
: |
31.03.2014 |
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Date of
Incorporation : |
06.02.1989 |
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Com. Reg. No.: |
55-034923 |
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Capital
Investment / Paid-up Capital : |
Rs.331.807 Millions |
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CIN No.: [Company Identification
No.] |
L74899DL1989PLC034923 |
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IEC No.: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELD04602D DELD08433F |
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PAN No.: [Permanent Account No.] |
AAACD0097R |
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Legal Form : |
A Public Limited Liability Company. The company’s shares are listed on
stock exchange. |
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Line of Business
: |
The company is
engaged in manufacturing of Fertilisers, Urea, Ammonia, Cement, Caustic Soda,
Chlorine, HCI, PAC, SBP, Hydrochloric Acid, Calcium Carbide, PVC Resin,
Textile Products, Sugar and Energy Management Services. |
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No. of Employees
: |
Information
declined by the management. |
RATING & COMMENTS
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MIRA’s Rating : |
A (63) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 480000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established and a reputed company having fine
track record. Financial position of the company seems to be sound. Trade relations are fair. Business is active. Payment terms are
regular and as per commitments. In View of long standing experience of the management, the subject can
be considered normal for business dealings at usual trade terms and
conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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India |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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
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Rating Agency Name |
ICRA |
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Rating |
Fixed Deposit Programme = MA+ |
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Rating Explanation |
Adequate credit quality and caries average credit RISK. |
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Date |
June 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
MANAGEMENT NON CO-OPERATIVE (91-11-23316801)
LOCATIONS
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Registered Office : |
5th Floor, |
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Tel. No.: |
91-11-23316801 |
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Fax No.: |
91-11-23318072 |
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E-Mail : |
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Website : |
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Corporate Office |
1st Floor, Kanchenjunga Building, 18 Barakhamba Road, New Delhi – 110001, India |
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Tel. No.: |
91-11- 23316801 |
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Fax No.: |
91 -11 -23318072 |
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Factory 1 : |
Shriram Fertilisers and Chemicals Shriram Nagar, |
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Factory 2 : |
Shriram Alkali
and Chemicals 749, G.I.D.C. Industrial Estate, District Bharuch, |
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Factory 3 : |
DSCL Sugar Village Ajbapur, P.O. Mullapur, Lakhimpur Kheri – 261 505, |
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Factory 4 : |
DSCL Sugar Village Rupapur, P.O. Munder, District Hardoi – 241 123, |
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Factory 5 : |
DSCL Sugar Village and P.O. Hariawan, District Hardoi – 241 405, |
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Factory 6 : |
DSCL Sugar Village Loni, P.O. Anjhi Shahbad, District Hardoi – 241 124, |
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Sales Office : |
Located At : ·
New Delhi ·
Mumbai ·
Kolkata ·
Chennai ·
Indore ·
Hyderabad ·
Jaipur ·
Ludhiana ·
Kota ·
Meerut ·
Sriganganagar
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Market Office : |
·
Kirti Mahal, 19, Rajendra Place, New Delhi - 110
008 Tel. No. 91-11-25713442/25722296 Fax. No. 91-11-25768135 ·
Shivaji Marg, New Delhi - 110 015 Tel. No. 91-11-25104410/25747836 Fax. No. 91-11-25455362/25739816 ·
5th Floor, Kanchenjunga Building, 18, Barakhamba
Road, New Delhi - 110 001 Tel. No. 91-11-23316801-9 Fax. No. 91-11-23318072 |
DIRECTORS
As on: 31.03.2014
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Name : |
Mr. Ajay Shridhar Shriram
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Designation : |
Chairman and Senior Managing Director |
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Address: |
‘SHIVAM’, A 37, Vasant Marg, Vasant Vihar, |
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Date of Birth/Age: |
04.03.1954 |
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Date of Appointment: |
24.07.1989 |
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DIN No.: |
00027137 |
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Name : |
Mr. Vikram Shridhar Shriram |
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Designation : |
Vice Chairman and Managing Director |
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Address: |
5/16, Shanti Niketan, |
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Date of Birth/Age: |
06.12.1958 |
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Date of Appointment: |
22.05.1990 |
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DIN No.: |
00027187 |
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Name : |
Mr. K. K. Kaul |
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Designation : |
Whole Time Director |
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Name : |
Mr. Ajit Shridhar Shriram |
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Designation : |
Deputy Managing Director |
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Address: |
5/20, Shanti Niketan, |
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Date of Birth/Age: |
03.10.1967 |
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Date of Appointment: |
02.05.2001 |
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DIN No.: |
00027918 |
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Name : |
Dr. Narendra Jeet Singh |
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Designation : |
Whole Time Director (EHS) |
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Address: |
A-22, Mahaveer Nagar-II, |
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Date of Birth/Age: |
29.11.1953 |
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Qualification : |
M.Sc., Ph.D. |
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Expertise in
Functional Area : |
Environment, Health, Safety, Quality Systems, Sustainability, Food
Safety and Energy Management |
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Date of Appointment: |
20.11.2007 |
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DIN No.: |
01893202 |
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Name : |
Dr. Satguru Sharan Baijal |
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Designation : |
Director |
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Address: |
B 4 Sector 30, Gautam Budh Nagar, Noida – 210 303 Uttar Pradesh, |
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Date of Birth/Age: |
06.09.1929 |
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Date of Appointment: |
22.05.1990 |
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DIN No.: |
00027961 |
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Name : |
Mr. Arun Bharat Ram |
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Designation : |
Director |
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Address: |
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Date of Birth/Age: |
15.11.1940 |
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Date of Appointment: |
22.05.1990 |
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DIN No.: |
00694766 |
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Name : |
Mr. Pradeep Dinodia |
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Designation : |
Director |
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Address: |
A-9-A, Maharani Bagh, |
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Date of Birth/Age: |
15.11.1940 |
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Date of Appointment: |
22.05.1990 |
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DIN No.: |
00027995 |
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Name : |
Mr. Vimal Bhandari |
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Designation : |
Director |
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Address: |
Flat N0.164, 16th Floor, |
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Date of Birth/Age: |
23.08.1958 |
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Qualification : |
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Expertise in
Functional Area : |
Finance, Human Resources and General Management |
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Date of Appointment: |
13.05.2003 |
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DIN No.: |
00001318 |
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Name : |
Mr. Sunil Kant Munjal |
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Designation : |
Director |
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Address: |
l-A, Friends, Colony (West), |
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Date of Birth/Age: |
14.12.1957 |
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Qualification : |
B.Com, Training in Mechanical Engineering |
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Expertise in
Functional Area : |
Corporate Planning, Finance, Manufacturing, Customer Relationship,
Information Technology and Insurance |
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Date of Appointment: |
13.05.2003 |
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DIN No.: |
00003902 |
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Name : |
Mr. Debdatta Sengupta |
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Designation : |
Director |
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Address: |
Sector-B, Pocket, 8, Flat N0.6145, Vasant Kunj, |
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Date of Birth/Age: |
20.06.1942 |
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Bachelor of Science in Physics, PGDM. |
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Market Development, Risk Analysis and Transfer Techniques, Managing
Human Resources, Insurance and Reinsurance Principles and Practices, Funds
Management and International Business Relations. |
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Date of Appointment: |
11.08.2003 |
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DIN No.: |
00043289 |
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Name : |
Mr. Sharad Shrivastava |
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Designation : |
LIC Nominee |
KEY EXECUTIVES
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Name : |
Mr. B.L. Sachdeva |
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Designation : |
Company Secretary |
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Audit Committee : |
· Dr. S.S. Baijal, Chairman · Mr. Arun Bharat Ram · Mr. Pradeep Dinodia · Mr. D. Sengupta |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
(A) Shareholding of Promoter
and Promoter Group |
Total No. of Shares |
Total
Shareholding as a % of Total No. of Shares |
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5461050 |
3.36 |
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98282744 |
60.51 |
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103743794 |
63.88 |
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Total shareholding of Promoter
and Promoter Group (A) |
103743794 |
63.88 |
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(B) Public Shareholding |
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610104 |
0.38 |
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|
62500 |
0.04 |
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29640 |
0.02 |
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17043295 |
10.49 |
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2130533 |
1.31 |
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19876072 |
12.24 |
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7702541 |
4.74 |
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13791052 |
8.49 |
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1445856 |
0.89 |
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15856822 |
9.76 |
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233141 |
0.14 |
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15105550 |
9.30 |
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87001 |
0.05 |
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431130 |
0.27 |
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38796271 |
23.89 |
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Total Public shareholding (B) |
58672343 |
36.12 |
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Total (A)+(B) |
162416137 |
100.00 |
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(C) Shares held by Custodians
and against which Depository Receipts have been issued |
0 |
0.00 |
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0 |
0.00 |
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0 |
0.00 |
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0 |
0.00 |
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Total (A)+(B)+(C) |
162416137 |
0.00 |
BUSINESS DETAILS
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Line of Business : |
The company is engaged
in manufacturing of Fertilisers, Urea, Ammonia, Cement, Caustic Soda,
Chlorine, HCI, PAC, SBP, Hydrochloric Acid, Calcium Carbide, PVC Resin,
Textile Products, Sugar and Energy Management Services. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information
declined by the management. |
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Bankers : |
· Punjab National Bank · State Bank of India · Bank of Baroda · Oriental Bank of Commerce · HDFC Bank Limited · Standard Chartered Bank · ING Vysya Bank Limited ·
DBS Bank Limited |
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Facilities : |
(Rs. In Millions)
NOTE: SECURED Long term
borrowings from banks:
Long term borrowings from others:
SHORT TERM
BORROWING: SHORT TERM WORKING CAPITAL
BORROWINGS FROM BANKS: Loans from banks on cash credit account of Rs. 988.000 Millions (2012-13 - Rs. 1794.500 Millions) are secured by first pari passu charge on whole of the current assets, both present and future, of the Company (except Shriram Bioseed Genetics, Hyderabad and Bioseed Research India , Hyderabad). These loans are further secured by a third charge by way of mortgage/hypothecation of all the immovable/ movable properties (other than current assets) of the Company’s undertakings located at Kota in Rajasthan and Ajbapur, Rupapur, Loni and Hariawan in Uttar Pradesh. Amount of Rs. Nil (2012-13 - Rs. 16.300 Millions) is secured by exclusive charge by way of hypothecation on current assets and mortgage/hypothecation on the immovable and movable properties, both present and future of the Company’s undertakings at Shriram Bioseed Genetics, Hyderabad. Short Term Loan of Rs.2270.900 Millions (2012-13 - Rs. 3090.200 Millions) are secured by first pari passu charge on whole of the current assets, both present and future, of the Company (except Shriram Bioseed Genetics, Hyderabad and Bioseed Research India, Hyderabad), and a third charge by way of mortgage/hypothecation of all the immovable/movable properties (other than current assets) of the Company’s undertakings at Kota in Rajasthan and Ajbapur, Rupapur, Loni and Hariawan in Uttar Pradesh. |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountant |
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Address : |
7th Floor, Tower B,
Building 10, DLF Cyber City Complex, DLF City Phase II, Gurgaon, Haryana, India |
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Tel. No.: |
91-124-6792000 |
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Fax No.: |
91-124-6792012 |
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Cost Auditors : |
· Bahadur Murao and Company, New Delhi · J.P. Sarda and Associates, Kota (Rajasthan) |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiaries : |
·
DCM Shriram Credit and Investments
Limited ·
Bioseed India Limited ·
DCM Shriram Infrastructure Limited ·
DCM Shriram ·
Thermal Energy Limited ·
Hariyali India Limited ·
DCM Shriram Aqua Foods Limited ·
Hariyali Rural Foundation ·
Hariyali Rural Ventures Limited ·
Hariyali Insurance Broking Limited ·
DCM Shriram Energy and
Infrastructure Limited ·
DCM Shriram Hydro Energy Limited ·
Shriram Vinyl Poly Tech Limited
(formerly SBM Yarn Limited) ·
Fenesta India Limited ·
Shri Ganpati Fertilizers Limited ·
Shriram Bioseed (Thailand) Limited ·
Bioseeds Limited ·
Bioseed Research Philippines Inc. ·
Bioseeds Holdings PTE. Limited ·
Bioseed Vietnam Limited ·
Bioseed Research India Limited
(formerly Bioseed Research India Private Limited) ·
Shriram Bioseed Ventures Limited ·
Shriram Bioseeds Limited ·
Zeus Investments Limited ·
Shridhar Shriram Foundation ·
PT Shriram Seed Indonesia ·
Bioseed Research USA Inc. |
CAPITAL STRUCTURE
As on 31.03.2014
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
29,49,50,000 |
Equity Shares |
Rs.2/- each |
Rs.589.900 Millions |
|
65,01,000 |
Cumulative redeemable preference shares |
Rs.100 each |
Rs. 650.100 Millions |
|
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Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16,98,03,320 |
Equity Shares |
Rs.2/- each |
Rs. 339.600 Millions |
Subscribed and fully paid up
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
163067849 |
Equity Shares |
Rs.2/- each |
Rs. 326.400
Millions |
|
Less:138,562 |
Equity shares |
Rs.2/- each |
Rs.0.300
Millions\ |
|
Add: |
Forfeited shares |
|
Rs. 1.600
Million |
|
|
Total |
|
Rs. 327.700 Millions |
Note:
Reconciliation of
Number of shares and amount outstanding at the beginning and at the end of the
reporting period:
|
Subscribed and
fully paid up Equity Shares: |
No. of shares |
Value (Rs. Millions) |
|
As at April 1, 2012 |
165,903,320 |
Rs. 331.800 Millions |
|
As at March 31, 2013 |
165,903,320 |
Rs. 331.800 Millions |
|
Less: Equity shares buy back |
2,696,909 |
Rs. 5.400 Millions |
|
As at March 31, 2014 |
163,206,411 |
Rs. 326.400 Millions |
The Company has bought back 28, 35,471 equity shares of Rs 2/- each, out of which 26,96,909 equity shares have been extinguished up to March 31, 2014 and the balance 138,562 equity shares have been extinguished subsequent to March 31, 2014
|
Particular |
No. of shares |
Percentage |
|
(i)Shares held by
the holding company: Sumant Investments Private Limited |
98,282,284 |
60.22% |
|
(ii)The
shareholders holding more than 5% equity shares are as under: |
|
|
|
Sumant Investments Private Limited |
98,282,284 |
60.22% |
|
Life Insurance Corporation of India |
12,863,749 |
7.88% |
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 |
327.700 |
333.400 |
333.400 |
|
(b) Reserves & Surplus |
16407.900 |
13671.200 |
12064.100 |
|
(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) |
16735.600 |
14004.600 |
12397.500 |
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
5875.400 |
6604.200 |
7878.500 |
|
(b) Deferred tax liabilities (Net) |
1434.200 |
1592.700 |
1554.600 |
|
(c) Other long term liabilities |
354.600 |
329.800 |
277.300 |
|
(d) long-term provisions |
1272.200 |
1150.700 |
1086.000 |
|
Total Non-current Liabilities (3) |
8936.400 |
9677.400 |
10796.400 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
4097.800 |
6938.600 |
8278.900 |
|
(b) Trade payables |
12696.500 |
10481.300 |
8660.800 |
|
(c) Other current
liabilities |
4729.300 |
4370.400 |
4898.100 |
|
(d) Short-term provisions |
485.700 |
412.400 |
251.700 |
|
Total Current Liabilities (4) |
22009.300 |
22202.700 |
22089.500 |
|
|
|
|
|
|
TOTAL |
47681.300 |
45884.700 |
45283.400 |
|
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|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
14103.100 |
14570.100 |
17909.800 |
|
(ii) Intangible Assets |
39.800 |
45.600 |
99.200 |
|
(iii) Capital
work-in-progress |
213.400 |
158.500 |
270.300 |
|
(iv)
Intangible assets under development |
0.000 |
1.700 |
3.900 |
|
(b) Non-current Investments |
446.800 |
453.700 |
504.400 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2477.300 |
1820.500 |
1730.900 |
|
(e) Other Non-current assets |
129.600 |
84.800 |
44.500 |
|
Total Non-Current Assets |
17410.000 |
17134.900 |
20563.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
1936.400 |
12.700 |
0.000 |
|
(b) Inventories |
10975.200 |
13394.200 |
13018.800 |
|
(c) Trade receivables |
9796.300 |
9105.800 |
6605.400 |
|
(d) Cash and cash
equivalents |
2865.600 |
1199.100 |
2283.100 |
|
(e) Short-term loans and
advances |
2056.900 |
2225.200 |
2517.300 |
|
(f) Other current assets |
2640.900 |
2812.800 |
295.800 |
|
Total Current Assets |
30271.300 |
28749.800 |
24720.400 |
|
|
|
|
|
|
TOTAL |
47681.300 |
45884.700 |
45283.400 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
60815.400 |
53999.300 |
49557.000 |
|
|
|
Other Income |
514.700 |
461.200 |
298.900 |
|
|
|
TOTAL (A) |
61330.100 |
54460.500 |
49855.900 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
17860.600 |
19178.700 |
17286.700 |
|
|
|
Purchases of Stock-in-Trade |
18705.400 |
14848.300 |
17272.100 |
|
|
|
Change in
inventories of finished goods, Work-in-progress and Stock-in-Trade |
2859.400 |
(624.400) |
(3278.100) |
|
|
|
Employee benefits expense |
3830.200 |
3630.100 |
3555.400 |
|
|
|
Other expenses |
12201.100 |
11887.400 |
11699.400 |
|
|
|
Exceptional Items |
0.000 |
535.800 |
380.600 |
|
|
|
TOTAL (B) |
55456.700 |
49455.900 |
46916.100 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
5873.400 |
5004.600 |
2939.800 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1458.800 |
1526.500 |
1575.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4414.600 |
3478.100 |
1364.200 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1341.300 |
1438.200 |
1540.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
3073.300 |
2039.900 |
(176.500) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
326.700 |
134.500 |
(33.900) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
2746.600 |
1905.400 |
(142.600) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
5393.500 |
4538.000 |
4759.100 |
|
|
|
|
|
|
|
|
|
Add |
BALANCE BROUGHT
FORWAR CONSEQUENT TO MERGER OF
ERSTWHILE SHRIRAM BIOSEED GENETICS INDIA LIMITED |
619.300 |
-- |
-- |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividends on Equity Shares (Incl. Interim dividend) |
327.600 |
265.400 |
66.400 |
|
|
|
Corporate Dividend Tax |
55.700 |
33.200 |
10.800 |
|
|
|
Storage fund for Molasses Account |
1.300 |
1.300 |
1.300 |
|
|
|
General Reserve |
750.000 |
750.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
7624.800 |
5393.500 |
4538.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Direct export of goods on FOB basis/as per contracts where FOB value not
readily ascertainable |
42.100 |
131.400 |
205.400 |
|
|
|
Others |
30.100 |
6.500 |
7.800 |
|
|
TOTAL EARNINGS |
72.200 |
137.900 |
213.200 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
325.700 |
375.900 |
619.400 |
|
|
|
Components & Spare Parts |
110.400 |
125.300 |
173.700 |
|
|
|
Capital Goods |
1264.300 |
871.500 |
940.200 |
|
|
|
Others |
6104.100 |
6005.700 |
3048.000 |
|
|
TOTAL IMPORTS |
7804.500 |
7378.400 |
4781.300 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
- Before
Exceptional Item |
16.56 |
14.55 |
0.99 |
|
|
|
- After
Exceptional Item |
16.56 |
11.49 |
(0.86) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
4.52 |
3.53 |
(0.29) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
9.66 |
9.27 |
5.93 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.54 |
4.51 |
(0.40) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.15 |
(0.01) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.60 |
0.97 |
1.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.38 |
1.29 |
1.12 |
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 |
333.400 |
333.400 |
327.700 |
|
Reserves & Surplus |
12064.100 |
13671.200 |
16407.900 |
|
Net worth |
12397.500 |
14004.600 |
16735.600 |
|
|
|
|
|
|
long-term borrowings |
7878.500 |
6604.200 |
5875.400 |
|
Short term borrowings |
8278.900 |
6938.600 |
4097.800 |
|
Total borrowings |
16157.400 |
13542.800 |
9973.200 |
|
Debt/Equity ratio |
1.303 |
0.967 |
0.596 |
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 |
49557.000 |
53999.300 |
60815.400 |
|
|
|
8.964 |
12.623 |
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 |
49557.000 |
53999.300 |
60815.400 |
|
Profit |
(142.600) |
1905.400 |
2746.600 |
|
|
(0.29%) |
3.53% |
4.52% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
(Yes) |
|
2] |
Locality of the firm |
(Yes) |
|
3] |
Constitutions of the firm |
(Yes) |
|
4] |
Premises details |
(No) |
|
5] |
Type of Business |
(Yes) |
|
6] |
Line of Business |
(Yes) |
|
7] |
Promoter's background |
(No) |
|
8] |
No. of employees |
(No) |
|
9] |
Name of person contacted |
(No) |
|
10] |
Designation of contact person |
(No) |
|
11] |
Turnover of firm for last three years |
(Yes) |
|
12] |
Profitability for last three years |
(Yes) |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
(No) |
|
15] |
Capital in the business |
(Yes) |
|
16] |
Details of sister concerns |
(Yes) |
|
17] |
Major suppliers |
(Yes) |
|
18] |
Major customers |
(Yes) |
|
19] |
Payments terms |
(No) |
|
20] |
Export / Import details (if applicable) |
(No) |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
(Yes) |
|
24] |
Banking facility details |
(Yes) |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
(Yes) |
|
28] |
Incorporation details, if applicable |
(Yes) |
|
29] |
Last accounts filed at ROC |
(Yes) |
|
30] |
Major Shareholders, if available |
(Yes) |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
(Yes) |
|
32] |
PAN of Proprietor/Partner/Director, if available |
(No) |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
(No) |
|
34] |
External Agency Rating, if available |
(Yes) |
UNSECURED LOAN
(Rs. in Millions)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWINGS |
|
|
|
Deposits |
|
|
|
Fixed |
88.800 |
70.600 |
|
Others |
155.700 |
65.200 |
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand |
|
|
|
From banks |
805.800 |
2004.000 |
|
From others |
20.000 |
20.000 |
|
Loan from subsidiary company |
13.100 |
13.600 |
|
Total |
1083.400 |
2173.400 |
MANAGEMENT DISCUSSION
AND ANALYSIS
PERFORMANCE REVIEW:
The company continued to deliver robust performance for the year, driven by higher earnings in the Chloro- Vinyl business and Shriram farm Solutions business, operating breakeven in Fenesta business and elimination of losses in the Hariyali business. However the earnings were adversely impacted due to losses in international Bioseed operations (a one-time exercise was carried out to clear the trade channel and the old/ expired inventory), negative margins in Sugar business and losses in cement business. The Company’s policy to conserve cash has led to substantial reduction in debt and has strengthened the financial position.
1. Net Revenues were higher by 11.6% at Rs. 61822. 000Millions in FY 14 as compared to Rs. 55389.000 Millions in the previous year. Net Revenues (excluding Hariyali Business) grew by 15%. This increase in revenues during the year was primarily driven by growth in Shriram Farm Solutions (+37%), Fertilizers (+19%) and Sugar (+12%) businesses.
· Shriram Farm Solutions: Revenues for FY 14 were higher by 37% at Rs. 17790.000 Millions. Sales of Value Added Inputs and Bulk fertilisers grew strongly increasing by 38%and 36%, respectively, during the year.
· Fertilizer: The Fertilizer business’ revenue increased by 19% to Rs 6250.000 Millions in FY 14 on account a 5% increase in sales volumes (FY 13 had a scheduled maintenance shutdown) and a 14% increase in realizations driven by higher input costs which are a pass through.
· Sugar: Revenues were higher by 12% at Rs. 15000.000 Millions due to 17% increase in sales volumes. However realizations for the year softened by 7%.
2. Profit before interest, exceptional items and tax (PBIT) stood at Rs 4210.000 Millions as compared to Rs. 4270.000 Millions in the previous year
· Chloro-Vinyl: PBIT from the Chloro Vinyl business was up by 9% to Rs. 3740.000 Millions essentially due to PVC resins wherein the realizations were higher by 14% and sales volumes by 11%. The margins remain healthy with sustained measures to contain rising input costs.
· Shriram Farm Solutions: PBIT in this business for FY14 was higher by 59% at Rs. 810.000 Millions on account of strong earnings growth in the Value Added Inputs portfolio. The net earnings from DAP/MOP were under stress due to adverse demand and supply conditions and high working capital including subsidy outstanding.
· Fertilizer: PBIT in FY 14 was higher by 110% at Rs 232.000 Millions on account of higher volumes as well as energy savings led by improved efficiencies. The overall profitability continues to get affected by the high level of subsidy outstanding.
· Bioseed: PBIT in FY14 declined to Rs 42.000Millions in FY 14, down from Rs 516.000 Millions in FY 13. The business earnings were adversely affected due to the one time exercise carried out to clear the trade channel and the old/ expired inventory. The Indian operations on the other hand continued healthy performance with earnings rising by 25% during FY 14.
· Sugar: PBIT stood at -ve Rs 54.000 Millions in FY 14 as compared to +ve Rs 645. 000Millions in the previous year due to swing in margins to –ve Rs 234 per Qtl from +ve Rs 196 per Qtl. Prices have improved post Feb 14, but still are below the level required for profitable operations.
· Cement: PBIT stood at –ve Rs. 3.000 Millions visà- Vis a PBIT of +ve Rs. 173.000 Millions in FY 13. The business suffered from the dual impact of rising input costs amid sluggish demand that weighed down on the profit margins.
3. Finance Costs – Finance costs during FY14 were lower by 4% at Rs. 1490.000 Millions due to decline in Debt during the year. Net Debt stood at Rs. 6830.000 Millions as compared to Rs.14360.000 Millions in FY 13.
4.
Net Profit stood at Rs. 2420.000 Millions as
compared to Rs. 2030.000 Millions in the previous period.
5.
The Board of Directors has recommended a
dividend of 100% for the year as compared to 80% in the previous year.
INDUSTRY OVERVIEW AND OUTLOOK:
India is the second largest producer and consumer of Urea in the world. Urea is the most preferred fertilizer and constitutes about 72% of entire fertilizer consumption in the country. Urea is the preferred choice of farmers in India on account of its low farm gate price (fixed by government) and high nitrogen content. The demand and consumption of Urea has been growing and the gap in demand/supply is currently being met by imports. During FY 14, total Urea production in India stood at ~ 22.7 Million MT. 7 Million MT of Urea was imported into India during the year to meet the domestic demand.
In FY 15, Government has notified a revised policy for one year with a marginal upwards revision of fixed costs at Rs. 500 per MT. This is expected to partially compensate for the increased costs and reduce the under recoveries in FY15. We hope that the Government will take steps to finalize a long-term policy which will ensure long-term viability of the existing capacity and provide confidence to the industry to take steps to enhance e capacity levels and Help in reducing the country’s dependence on imports.
Our Strategy
The company has been focused on continuously improving its operating efficiencies and reducing energy consumption along with focusing on initiatives which will help in containment of fixed expenses.
Shriram Farm Solutions
Shriram Farm Solutions business provides a complete range of farm inputs which include the Value added inputs such as Seeds (GM, Hybrid and OP), Crop Care Chemicals (Insecticide, Fungicide and Herbicide), Soluble Fertilizers, Micro-Nutrients etc. and Bulk Fertilizers like DAP, MOP and SSP. The Company not only aims to provide wide range of quality inputs, but also strives to provide customized solutions which include providing customized inputs by leveraging local knowledge and creating package of practices which will help farmers in enhancing their levels of productivity and profitability. The business is supported by a strong extension program called the SKVP (Shriram Krishi Vikas Program). This program, apart from being an Agronomy services platform providing latest technology and practices to the farmers and the Channel, also focuses on meeting its social responsibilities. Some of the activities include education programs for girl child, providing Scholarships along with vocational training for women. They believe, that new technologies/practices need to be disseminated to the farmers which will help them in increasing yields/profitability by meeting challenges of Drought, pests etc. The company lays strong emphasison strengthening its customer interface which will help in capturing the evolving trends in Agriculture and leverage technology to enhance performance of the Business, the Channel and the Farmer. The business is also supported by a strong distribution network which is present in 17 states, reaching ~ 0.4 Million farmers and ~ 30,000 retailers. The Company sells these Agri-Inputs under brand “Shriram” which is known for quality and has a strong brand image within the farming community.
Industry Overview and Outlook
The Year 2013-14
saw a good monsoon with comprehensive coverage. In some areas, excess and
extended rainfall resulted in crop damage in khariff and late rabi. Value added
inputs saw growth indem and but the rising in put cost resulted in pressure on
margins. In the Bulk Fertilizers
(DAP/MOP), the industry started FY 14 with high inventory in the system.
International prices dropped sharply due to lower purchase by major consuming
countries. Abundant supply in domestic market resulted in higher discount and
longer credit in the domestic market. However, due to good monsoon during the
year, inventory in the country at the end of the season has reduced. They expect that industry will continue to
grow in FY 15 if monsoons are normal, although climate factors such as El Nino
can impact performance. They do believe that this industry will witness healthy
growth in medium long term due to strong demand for food in the next few years
given the macro factors such as population growth, rising per capital income
etc. As per industry estimates, the demand for food will touch ~ 330 Mn MT by
2020 and supply is projected to be about 280 Mn MT, resulting in shortage of ~
50 Mn MT. With land area under agriculture stagnant at 140 Mn h.a, the country
would need to improve the levels of productivity which would include adoption
of superior products (Agri-Inputs) along with other initiatives.
.
HUMAN RESOURCES AND INDUSTRIAL/EMPLOYEE
RELATIONS:
DCM Shriram’s focus
on effective management of its Human Resources continues with full commitment
as before. The Company has all through the year stood by its belief of
developing people, taking care of their needs and ensuring that all the
processes and systems enable employees to give their best. The Company believes
that a genuine, authentic and customised rolling out a comprehensive Talent
& Leadership Development program, following through on the employee
engagement survey findings, aggressive positioning of the employer brand for
fresher’s and laterals and quite a few such initiatives across the entire
Organisation. The Company has successfully implemented Balanced Scorecard
covering nearly 280 roles & positions, supported by Accenture Consulting.
The BSC, They strongly believe, will go a long way in strengthening the
Performance Management System along with a sharper focus on results, outcomes
and deliverables. The Talent and leadership development journey has been
embarked upon to develop the existing leaders and groom the high potential
talent of the Organisation to take on higher roles & responsibilities,
along with getting mapped onto various leadership succession tracks. The
initiative has been partnered with Aon Hewitt. The Organisation has continued
to measure the engagement of its employees through a structured survey by the
Corporate Executive Board. It has been very insightful and useful in drawing
out the HR agenda / action plan for the year. Several initiatives have been
taken to strengthen the Employer Brand of DCM Shriram, including ‘Case Study’
Competition at Campus and ‘Alumni Connect’ for the former employees of the
Company.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2014 (Rs. in millions) |
31.03.2013 (Rs. in millions) |
|
Claims* (excluding
claims by employees where amount not ascertainable) not acknowledged as
debts: |
|
|
|
|
|
|
|
Sales tax matters |
13.300 |
13.300 |
|
Excise matters |
21.200 |
21.200 |
|
Additional premium on land |
81.100 |
81.100 |
|
Others |
59.300 |
59.300 |
|
Total |
174.900 |
174.900 |
NOTE: All
the above matters are subject to legal proceedings in the ordinary course of
business. In the opinion of management the legal proceedings, when ultimately concluded,
will not have a material effect on results of operations or financial position
of the Company
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER
(SRN) |
|
1 |
10495242 |
17/09/2014 * |
968,600,000.00 |
PUNJAB NATIONAL BANK |
LARGE CORPORATE BRANCH, TOLSTOY HOUSE, TOLSTOY MA |
C24583759 |
|
2 |
10434079 |
17/12/2013 * |
1,200,000,000.00 |
STANDARD CHARTERED BANK |
(ACTING AS AN SECURITY AGENT), NARAIN MANZIL, 23 BARAKHAMBA
ROAD, NEW DELHI, DELHI - 110001, INDIA |
B95826285 |
|
3 |
10431900 |
10/12/2013 * |
1,160,000,000.00 |
STANDARD CHARTERED BANK |
(ACTING AS AN SECURITY AGENT) C D U, NARAIN MANZI L, 23
BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, |
B95427985 |
|
4 |
10336978 |
30/12/2011 |
8,797,000.00 |
DEPARTMENT OF BIOTECHNOLOGY |
6-8 TH FLOOR, BLOCK NO.2,, CGO COMPLEX, LODHI ROAD,, NEW DELHI, DELHI
-110003, INDIA |
B32716854 |
|
5 |
10322865 |
28/07/2014 * |
500,000,000.00 |
ING VYSYA BANK LIMITED |
23, BARAKHAMBA ROAD,, NARAIN MANZIL, NEW DELHI, DELHI - 110001, INDIA |
C17340183 |
|
6 |
10291797 |
24/05/2011 |
14,418,200,000.00 |
PUNJAB NATIONAL BANK |
LARGE CORPORATE BRANCH,, TOLSTOY MARG,, NEW DELHI |
B14855134 |
|
7 |
10253888 |
09/12/2013 * |
107,500,000.00 |
GOVERNMENT OF INDIA-REPRESENTED BY IFCI |
MINISTRY OF CONSUMER AFFAIRS, FOOD & PUBLIC DISTR |
B95508263 |
|
8 |
10179961 |
29/09/2009 |
1,400,000,000.00 |
IDBI BANK LIMITED |
IRCS, 1,, RED CROSS ROAD,, NEW DELHI, DELHI - 110001, INDIA |
A71232516 |
|
9 |
10157481 |
15/05/2009 |
2,491,800,000.00 |
INTERNATIONAL FINANCE CORPORATION |
2121 PENNSYLVANIA AVENUE, N.W., WASHINGTON, D.C, NA, - 20433,
UNITED STATES OF AMERICA |
A62340955 |
|
10 |
10158710 |
12/08/2010 * |
5,800,000.00 |
DEPARTMENT OF BIOTECHNOLOGY |
BLOCK 2,CGO COMPLEX, LODHI ROAD, NEW DELHI, DELHI |
A93576411 |
* Date of charge modification
FIXED ASSETS
·
Land
·
Building
·
Leasehold
·
Furniture and Fixture
·
Plant and Equipments
·
Vehicles
·
Office Equipment
·
Computer
·
Know How
UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2014
|
Particulars |
Three months ended |
Year ended |
||
|
30.09.2014 |
30.06.2014 |
30.09.2014 |
||
|
Unaudited |
Unaudited |
Unaudited |
||
|
1 |
Income from Operations |
|
|
|
|
|
(a) Net sates/income from operations (Net of excise duty) |
13748.000 |
16721.100 |
30469.100 |
|
|
(b) Other Operating Income |
37.900 |
44.400 |
82.300 |
|
|
Total income from operations (net) |
13785.900 |
16765.600 |
30551.400 |
|
2 |
Expenses |
|
|
|
|
|
(a) Cost of materials consumed |
1589.800 |
2871.400 |
4461.200 |
|
|
(b) Purchases of stock-in trade |
3451.000 |
6043.800 |
9494.800 |
|
|
(c) Changes in inventories of finished goods. work-in-progress and stock in trade |
3942.700 |
553.900 |
4496.600 |
|
|
(d) Employee benefits expense |
1104.900 |
992.700 |
2097.600 |
|
|
(e) Depreciation and Anmortisation Expenses |
268.300 |
282.200 |
550.500 |
|
|
(f)Power |
1663.900 |
1667.100 |
3331.000 |
|
|
(g) Other Expenses |
1221.500 |
2102.000 |
3323.500 |
|
|
(g) cost of own manufacturing goods |
(0.100) |
(0.100) |
(0.200) |
|
|
Total expenses |
13242.000 |
14513.000 |
27755.000 |
|
3 |
Profit/ (Loss) from operations before other Income, finance costs and
exceptional Items (1-2) |
543.900 |
2252.500 |
2796.400 |
|
4 |
Other Income |
125.00 |
157.900 |
282.900 |
|
5 |
Profit/ (Loss) from operations before other income, finance costs and
exceptional items (3+4) |
668.900 |
2410.400 |
3079.300 |
|
6 |
Finance Costs |
295.200 |
277.700 |
572.900 |
|
7 |
Profit/ (Loss) from ordinary activities before tax (7+8) |
373.700 |
2132.700 |
2506.400 |
|
8 |
Tax expenses |
(108.500) |
346.200 |
237.700 |
|
9 |
Net Profit / (Loss) for the period (11-12) |
482.200 |
1786.500 |
2268.700 |
|
10 |
Cash Profit |
585.200 |
2037.500 |
2622.700 |
|
11 |
Paid up equity share capital (Face Value of Rs2/- each) Reserve excluding Revaluation Reserve |
326.400 |
326.400 |
326.400 |
|
|
(a) Basic |
2.97 |
11.00 |
13.96 |
|
|
|
|
|
|
|
A |
PARTICULARS OF SHAREHOLDING |
|
|
|
|
1 |
Public Shareholding |
|
|
|
|
|
- Number of shares |
58672343 |
58672343 |
58672343 |
|
|
- Percentage of shareholding |
36.12 |
36.12 |
36.12 |
|
2 |
Promoters and Promoter group shareholding |
|
|
|
|
|
a) Pledged / Encumbered |
0.000 |
0.000 |
0.000 |
|
|
- Number of shares |
|
|
|
|
|
- Percentage of shares (as a % of the total shareholding of Promoter & Promoter group) |
|
|
|
|
|
- Percentage of shares (as a % of the total Share Capital of the Company) |
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
|
- Number of shares |
103743794 |
103743794 |
103743794 |
|
|
- Percentage of shares (as a % of the total shareholding of Promoter & Promoter group) |
100.00 |
100.00 |
100.00 |
|
|
- Percentage of shares (as a % of the total Share Capital of the Company) |
63.88 |
63.88 |
63.88 |
|
|
|
|
|
|
|
B |
INVESTOR COMPLAINTS |
|
|
|
|
|
Pending at the beginning of the quarter |
00 |
|
|
|
|
Received during the quarter |
26 |
|
|
|
|
Disposed off during the quarter |
26 |
|
|
|
|
Remaining unresolved at the end of the quarter |
00 |
|
|
STANDALON STATEMENT OF ASSETS AND LIABILITIES
|
Particulars |
As at 30.09.2014 |
|
|
|
Particulars |
|
|
A |
EQUITY AND
LIABILITIES |
|
|
1 |
Shareholder’s Funds |
|
|
|
a) Share Capital |
326.400 |
|
|
b) Reserves & Surplus |
18167.900 |
|
|
c) Money received against share warrants |
0.000 |
|
|
Sub Total- Shareholders funds |
18494.300 |
|
2 |
Share application money pending allotment |
0.000 |
|
3 |
Minority Interest |
0.000 |
|
4 |
Non-current liabilities |
|
|
|
(a) Long term borrowings |
4879.400 |
|
|
(b) Deffered tax Liabilities |
1340.000 |
|
|
(b) Other long term liabilities |
350.800 |
|
|
fc) Long term provisions |
1409.200 |
|
|
Sub Total- Non Current Liabilities |
7979.400 |
|
5 |
Current liabilities |
|
|
|
(a) Short term borrowings |
2382.500 |
|
|
(b) Trade Payables |
8519.100 |
|
|
(c) Other current liabilities |
4250.300 |
|
|
(d) Short term provisions |
230.300 |
|
|
Sub Total- Current Liabilities |
15382.200 |
|
|
TOTAL-EQUITY AND
LIABILITIES |
41855.900 |
|
B |
ASSETS |
|
|
1 |
Non-current assets |
|
|
|
(a) Fixed assets |
13842.800 |
|
|
(b) Non-Current investment |
446.800 |
|
|
©Long term loans and advances |
2599.500 |
|
|
(d)Other non – current assets |
126.200 |
|
|
Sub-Total- Noncurrent assets |
17015.300 |
|
2 |
Current assets |
|
|
|
a) Current Investments |
4043.900 |
|
|
b) Inventories |
6331.400 |
|
|
c) Trade Receivables |
9165.700 |
|
|
d) Cash and cash equivalents |
878.800 |
|
|
(e) Short term loans and advances |
2133.000 |
|
|
(f) Other current assets |
2287.800 |
|
|
Sub-Total- current assets |
24840.600 |
|
|
TOTAL ASSETS |
41855.900 |
SEGMENT WISE REVENUE RESULTS AND CAPITAL EMPLOYED UNDER CLAUSE 41 OF
THE LISTING AGREEMENT
|
Particulars |
Three months ended |
Year ended |
||
|
30.09.2013 |
30.06.2013 |
30.09.2013 |
||
|
Unaudited |
Unaudited |
Unaudited |
||
|
1 |
Segment Revenue |
|
|
|
|
|
Fertilizer |
1749.500 |
1696.700 |
3446.200 |
|
|
Shriram Farm Solutions |
4389.800 |
4486.100 |
8875.900 |
|
|
Bioseed |
341.800 |
3749.600 |
4091.400 |
|
|
Sugar |
2599.900 |
2807.600 |
5407.500 |
|
|
Hariyali Kisaan Bazzar |
1110.600 |
1373.000 |
2483.600 |
|
|
Chloro Vinyl |
2817.000 |
3586.100 |
6403.100 |
|
|
Cement |
349.500 |
367.500 |
717.000 |
|
|
Others |
459.700 |
527.000 |
986.700 |
|
|
Total |
13817.800 |
18593.600 |
32411.400 |
|
|
Less: Inter-Segment revenue |
31.9000 |
1828.100 |
1860.000 |
|
|
Net Sales I Income
from Operations |
13785.900 |
16765.500 |
30551.400 |
|
|
|
|
|
|
|
2 |
Segment Results Profit I (Loss) (before tax, finance cost and exceptional items) from Segment |
|
|
|
|
|
Fertilizer |
54.900 |
115.800 |
170.700 |
|
|
Shriram Farm Solutions |
278.600 |
204.500 |
483.100 |
|
|
Bioseed |
(182.100) |
952.400 |
770.300 |
|
|
Sugar |
4.800 |
80.400 |
85.200 |
|
|
Hariyali Kisaan Bazzar |
(4.200) |
11.100 |
6.900 |
|
|
Chloro Vinyl |
718.500 |
1131.600 |
1850.100 |
|
|
Cement |
(19.600) |
48.200 |
28.600 |
|
|
Others |
(31.500) |
(19.200) |
(50.700) |
|
|
Total |
819.400 |
2524.800 |
3344.200 |
|
|
Less: |
|
|
|
|
|
i) Finance costs |
295.200 |
277.700 |
572.900 |
|
|
ii) Other un-allocable expenditure net off un-allocable income l expenditure |
150.500 |
114.400 |
264.900 |
|
|
Total Profit(Loss)
before Tax |
373.700 |
2132.700 |
2506.400 |
|
|
|
|
|
|
|
3 |
Segment Capital employed |
|
|
|
|
|
Fertilizer |
1820.000 |
3572.400 |
1820.000 |
|
|
Shriram Farm Solutions |
3834.400 |
5411.800 |
3834.400 |
|
|
Bioseed |
2724.600 |
2299.600 |
2724.600 |
|
|
Sugar |
5695.900 |
6145.500 |
5695.900 |
|
|
Hariyali Kisaan Bazzar |
1876.300 |
1943.000 |
1876.300 |
|
|
Chloro Vinyl |
5129.800 |
5284.400 |
5129.800 |
|
|
Cement |
131.200 |
132.600 |
131.200 |
|
|
Others |
822.500 |
829.700 |
822.500 |
|
|
Total Segment
Capital Employed |
22034.700 |
25619.000 |
22034.700 |
PRESS LEASE:
FENESTA LAUNCHES ITS FIRST SIGNATURE STUDIO TO EXPAND RETAIL OPERATIONS
New Delhi, August 14, 2014: Fenesta Building Systems, India’s largest windows company and a division of DCM Shriram Limited. Is expanding its retail outreach in the country. The company announced the launch of its flagship owned Fenesta Signature Studio at The Great India Place Mall, Noida in the national capital region today.
The new Signature Studio will change the way of buying doors and windows for the Indian consumers as the customers will be able to touch and feel the product before the purchase. The Signature Studio is positioned as a premium interior lifestyle store that is in sync with Fenesta’s aspirational brand imagery.
While inaugurating the first Fenesta Signature Studio, Mr. Ajay S Shriram, Chairman & Senior Managing Director, and Mr. Vikram S Shriram, Vice Chairman & Managing Director, DCM Shriram Limited. said, “They’re excited to launch the new Signature Studio of Fenesta for the consumers in Delhi-NCR. It has always been Fenesta’s endeavor to design windows and doors that suit India’s unique requirements. Fenesta uses world class technology to meet the demands of the discerning Indian consumer.”
Further, Mr. Alex Murphy, President and Business Head, Fenesta Building Systems added, “This studio will help in better visualization of interior solutions with life-size displays and extensive presentations of product designs. This along with the technical support at hand and aesthetically appealing displays will make the product experience simple, well-informed yet absolutely incredible for the customer. It will also enhance the design palette available to architects and end users.”
Fenesta will be expanding its network with its wholly owned Signature Studio to other cities in India including Mumbai, Ahmedabad, Chennai, Hyderabad, Kolkata and Pune.
Mr. Alex Murphy added, “They are confident that the Signature Studios will provide consumers across India access to world class contemporary designs and trends in styled doors, windows and conservatories.”
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other official
proceeding for making any prohibited payments or other improper payments to
government officials for engaging in prohibited transactions or with designated
parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government official
or a family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.85 |
|
|
1 |
Rs.97.01 |
|
Euro |
1 |
Rs.77.62 |
INFORMATION DETAILS
|
Information Gathered
by : |
DPA |
|
|
|
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
YES |
|
--EPF |
YES/NO |
YES |
|
TOTAL |
|
63 |
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.