MIRA
INFORM REPORT
|
Report Date : |
04.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
ACC LIMITED (w.e.f. 01.09.2006) |
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Formerly Known
As : |
THE ASSOCIATED CEMENT COMPANIES LIMITED |
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Registered
Office : |
Cement House, 121, |
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Country : |
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Financials (as
on) : |
31.12.2013 |
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Date of
Incorporation : |
01.08.1936 |
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Com. Reg. No.: |
11-002515 |
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Capital
Investment / Paid-up Capital : |
Rs.1879.500
Millions |
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CIN No.: [Company Identification
No.] |
l26940mh1936plc002515 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
mumt00130e |
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PAN No.: [Permanent Account No.] |
aaact1507C |
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Legal Form : |
Public Limited Liability Company. The Company's shares are listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturer and Seller of Cement
and Ready Mix Concrete. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (73) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is an old and well established company having excellent track
record. Fundamentals of the company is decent. Financial position of the company
is strong and healthy. Rating also takes into consideration strong market
position in the cement industry. Trade relation reported to be fair. Business is active. Payment terms
are reported to be regular and as per commitment. The company can be considered good for business dealing 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) |
|
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
|
Rating Agency Name |
CRISIL |
|
Rating |
LONG TERM RATING = AAA |
|
Rating Explanation |
Highest degree of safety and lowest credit risk. |
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Date |
16th September, 2014 |
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Rating Agency Name |
CRISIL |
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Rating |
SHORT TERM RATING = A1+ |
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Rating Explanation |
Very strong degree of safety and lowest credit risk. |
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Date |
16th September, 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 DECLINED
Management non co-operative [91-22-33024321]
LOCATIONS
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Registered Office/ Corporate Office : |
Cement House, 121, |
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Tel. No.: |
91-22-33024321 |
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Fax No.: |
91-22-66317440 |
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E-Mail : |
Feedback and Assistance: gulnaz.nensey@acclimited.com Enquiries For requirements in For requirements in
Kolkata : sanjay.roy@accconcrete.com Mumbai: vishal.tandon@accconcrete.com Chennai: ramchander.rao@accconcrete.com Vendor Queries: mahendrakumar.swami@acclimited.com Shareholder queries: sujata.chitre@acclimited.com
Investor Grievances: ACC-InvestorSupport@acclimited.com Waste Management: Ulhas.parlikar@acclimited.com Media Queries: nand.kumar@acclimited.com |
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Website : |
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CEMENT PLANTS : |
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Factory 1 : |
Cement Nagar, PO Bardol, District Bargarh - 768
038, |
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Tel. No.: |
91-6646-246189/ 90 |
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Fax No.: |
91-6646-246430 |
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Factory 2 : |
P.O. Jhinkpani, District (West) Singhbhum - 833 215, |
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Tel. No.: |
91-6589-235300/ 391 |
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Fax No.: |
91-6589-235250 |
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Factory 3 : |
P.O. Cementnagar, District Chandrapur - 442 502, |
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Tel. No.: |
91-7172-285026 |
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Fax No.: |
91-7172-285165 |
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Factory 4 : |
Madhukunda, P.O. Sunuri,
District Purulia - 723 121, West |
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Tel. No.: |
91-3251-272224 |
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Fax No.: |
91-3251-272202 |
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Factory 5 : |
P.O. Barmana, District Bilaspur
- 174 013, |
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Tel. No.: |
91-1978-244069/ 31 |
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Fax No.: |
91-1978-244067 |
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Factory 6 : |
P.O. Jamul Cement Works, District Durg - 490
024, |
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Tel. No.: |
91-788-2285081-83 |
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Fax No.: |
91-788-2282585 |
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Factory 7 : |
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Factory 8 : |
P.O. Kymore, District Katni
- 483 880, |
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Tel. No.: |
91-7626-272301/ 865 |
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Fax No.: |
91-7626-272303 |
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Factory 9 : |
P.O. Lakheri, District Bundi
- 323 603, |
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Tel. No.: |
91-7438-261642 |
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Fax No.: |
91-7438-261504 |
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Factory 10 : |
P.O. Madukkarai, District |
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Tel. No.: |
91-422-2622282 |
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Fax No.: |
91-422-2622282 |
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Factory 11 : |
P.O. ACC Colony, District Dhanbad - 828 124,
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Tel. No.: |
91-326-2245120/ 054 |
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Fax No.: |
91-326-2245515 |
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Factory 12 : |
P.O. Wadi, District |
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Tel. No.: |
91-8476-202239 |
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Fax No.: |
91-8476-202190 |
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Factory 13 : |
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Tel. No.: |
91-8155-288802 |
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Fax No.: |
91-8155-288682 |
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Techport : |
ACC Thane Complex, L.B.S. Marg, Thane (West)
- 400 604, |
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Tel. No.: |
91-22-33028000, 39248200 |
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Regional Office
: |
Located at: v
Eastern
Region (Kolkata) v
Northern
Region ( v
South and
Western Region (Pune) |
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Training Centres : |
Located at: v
v
ACC Cement Technology Institute, Jamul v
Sumant Moolgaokar Technical Institute, Kymore v
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Located at: v
v Chennai v v Dehradun v
Hubli v
v
v
v
v |
DIRECTORS
AS ON 31.12.2013
|
Name : |
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Designation : |
Chairman |
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Date of Birth/ Age : |
21.09.1949 |
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Qualification : |
Bachelor of Chemical Engineering from Bombay University |
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Date of Appointment : |
27.12.1999 |
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Name : |
Mr. Paul Hugentobler |
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Designation : |
Deputy Chairman |
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Date of Birth/ Age : |
14.02.1949 |
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Qualification : |
Degree in Civil Engineering
from ETH, |
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Date of Appointment : |
06.05.2005 |
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Name : |
Mr. Kuldip Kaura |
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Designation : |
Chief Executive
Officer and Managing Director |
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Qualification : |
BE |
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Date of Appointment : |
05.08.2010 |
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Name : |
Mr. S.M. Palia |
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Designation : |
Director |
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Date of Birth/ Age : |
25.04.1938 |
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Qualification : |
B.Com.; LL.B;
CAIIB; CIIB ( |
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Date of Appointment : |
25.01.2002 |
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Name : |
Mr. Farrokh K Kavarana
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Designation : |
Director |
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Name : |
Mr. Bernard Fontana |
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Designation : |
Director |
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Name : |
Mr. M.L. Narula |
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Designation : |
Director |
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Date of Birth/ Age : |
25.10.1940 |
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Qualification : |
B.Sc.; Engineering
(Electrical) from |
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Date of Appointment : |
01.04.2007 |
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Name : |
Mr. Bernard Terver |
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Designation : |
Director |
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Name : |
Mr. Shailesh Haribhakti |
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Designation : |
Director |
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Date of Birth/ Age : |
12.03.1956 |
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Qualification : |
FCA; FICWA |
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Date of Appointment : |
17.02.2006 |
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Name : |
Mr. Aidan Lynam |
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Designation : |
Director |
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Name : |
Mr. Sushil Kumar Roongta |
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Designation : |
Director |
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Name : |
Mr. Ashwin Dani |
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Designation : |
Director |
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Date of Birth/ Age : |
24.10.1942 |
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Qualification : |
BSc (Honours); B.Sc
(Tech) (Pigments Paints and Varnishes); Masters Degree in Polymer Science ( |
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Date of Appointment : |
15.12.2011 |
KEY EXECUTIVES
|
Name : |
Mr. Burjor Dorab Nariman |
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Designation : |
Company Secretary and Head Compliance |
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Name : |
Mr. Rajesh Kanode |
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Designation : |
General Manager (Finance) |
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Audit Committee : |
Mr. Shailesh Haribhakti,
Chairman Mr. S.M. Palia Mr. Naresh Chandra Mr. Paul Hugentobler Mr. Sushil Kumar Roongta |
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Shareholders’/
Investors’ Grievance Committee : |
Mr. Paul Hugentobler, Chairman Mr. M.L. Narula Mr. Kuldip Kaura |
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Compensation Committee : |
Mr. Paul Hugentobler Mr. Shailesh Haribhakti |
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Compliance Committee : |
Mr. R A Shah, Chairman Mr. Naresh Chandra Mr. Shailesh Haribhakti Mr. Paul Hugentobler Mr. Kuldip Kaura |
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CAPEX Committee : |
Mr. Paul Hugentobler, Chairman Mr. S.M. Palia Mr. M.L. Narula Mr. Aidan Lynam Mr. Sushil Kumar Roongta Mr. Kuldip Kaura |
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Managing Committee : |
Mr. Kuldip Kaura, Chairman Mr. Sunil Nayak Mr. J. Datta Gupta Mr. Rajiv Prasad Mr. Vivek Chawla Mr. Shakti Arora Mr. P N Iyer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2014
|
Category of
Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of Shares |
|
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(A) Shareholding of
Promoter and Promoter Group |
|
|
|
|
|
|
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|
93888120 |
50.01 |
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|
93888120 |
50.01 |
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|
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|
541000 |
0.29 |
|
|
541000 |
0.29 |
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Total shareholding
of Promoter and Promoter Group (A) |
94429120 |
50.30 |
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(B) Public
Shareholding |
|
|
|
|
|
|
|
|
5947011 |
3.17 |
|
|
17818906 |
9.49 |
|
|
287815 |
0.15 |
|
|
37035581 |
19.73 |
|
|
61089313 |
32.54 |
|
|
|
|
|
|
6851404 |
3.65 |
|
|
|
|
|
|
20703229 |
11.03 |
|
|
3131151 |
1.67 |
|
|
1541139 |
0.82 |
|
|
900 |
0.00 |
|
|
772515 |
0.41 |
|
|
72803 |
0.04 |
|
|
305817 |
0.16 |
|
|
385965 |
0.21 |
|
|
3139 |
0.00 |
|
|
32226923 |
17.17 |
|
Total Public
shareholding (B) |
93316236 |
49.70 |
|
|
|
|
|
Total (A)+(B) |
187745356 |
100.00 |
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(C) Shares held by Custodians and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
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) |
187745356 |
100.00 |
(1)
Indian
Bodies
Corporate
Individual
shareholders holding nominal share capital up to 
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Seller of Cement
and Ready Mix Concrete. |
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Products : |
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PRODUCTION STATUS [AS ON 31.12.2011]
|
Particulars |
Unit |
Installed/Rated
Capacity |
Actual
Production |
|
Cement |
Lakh Tonnes |
286.83 |
234.60 |
Licensed Capacity
per annum not indicated due to the abolition of Industrial Licences
as per Notification No.477 (E) dated July 25, 1991 issued under The Industries (Development
and Regulation) Act, 1951.
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
v
State Bank of v
Citibank, N.A. v
The Hongkong and
Shanghai Banking Corporation Limited v
Banking Corporation Limited v
HDFC Bank Limited v
ICICI Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S.R. Batliboi and Associates Chartered Accountants |
|
Address : |
14th Floor, The Ruby, 29, Senapati
Bapat Marg, Dadar (West), Mumbai - 400028, Maharashtra,
India |
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Tel. No.: |
91-22-61920000 |
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Fax No.: |
91-22-61921000 |
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Cost Auditor : |
N.I. Mehta and Company Chartered Accountants |
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Ultimate Holding
Company : |
Holcim Limited |
|
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|
Holding Company
of Holcim ( |
Holderind Investments Limited |
|
|
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Holding Company
: |
Holcim (India) Private Limited |
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|
Associates/Subsidiaries : |
v
Bulk Cement Corporation (India) Limited v
ACC Mineral Resources Limited v
Lucky Minmat Limited v
National Limestone Company Private Limited v
Singhania Minerals Private Limited v
Alcon Cement Company Private Limited v
Asian Concretes & Cements Private Limited v
Aakaash Manufacturing Company Private Limited |
|
|
|
|
Fellow Subsidiaries : |
v
Ambuja Cements Limited v
Holcim Group Services Ltd. v
Holcim Group Support Ltd. (Merged with Holcim Technology Ltd w.e.f
January 01, 2013) v
Holcim (Singapore) Pte Limited v
Holcim Trading FZCO v
Holcim (Lanka) Limited v
P T Holcim Indonesia Tbk v
Holcim Services (South Asia) Limited v
Holcim (Bangladesh) Limited v
Holcim (Vietnam) Limited v
Holcim (Malaysia) SDN BHD v
Holcim (US) INC v
Holcim Foundation v
Holcim Services Asia Bangkok v
Holcim Services (Asia) Limited v
Holcim Technology Ltd v
Holcim Trading Pte Ltd v
AL Jabor Cement Industries Co. v
Holcim Trading S. A. v
Holcim (Australia) PTY Ltd. |
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Associate Company of
Fellow Subsidiary w.e.f January 01, 2013 : |
Siam
City Cement Public Company Limited |
|
|
|
|
Associate Company of Fellow Subsidiary : |
National
Cement Factory |
CAPITAL STRUCTURE
AS ON 31.12.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
225000000 |
Equity Shares |
Rs.10/- each |
Rs.2250.000 Millions |
|
100000000 |
Preferences Shares |
Rs.10/- each |
Rs.1000.000 Millions |
|
|
TOTAL
|
|
Rs.3250.000
Millions |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
188793243 |
Equity Shares |
Rs.10/- each
|
Rs.1887.900
Millions |
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
187745356 |
Equity Shares |
Rs.10/- each
|
Rs.1877.500
Millions |
|
|
Add: Forfeited Equity Shares |
|
Rs.2.000
Millions |
|
|
TOTAL
|
|
Rs.1879.500 Millions |
NOTES:
TERMS / RIGHTS TO EQUITY
SHARES
The company has only one class
of equity shares having par value of Rs. 10 per
share. Each holder of equity shares is entitled to one vote per share. The
dividend proposed by the Board of Directors is subject to the approval of the
shareholders in the ensuing Annual General Meeting, except in case of interim
dividend.
EQUITY
SHARES HELD BY HOLDING COMPANY / ULTIMATE HOLDING AND THEIR SUBSIDIARIES
|
Particular
|
As on 31.12.2013 Rs. In Millions |
|
Holcim
(India) Private Limited, the Holding Company 9,38,88,120
(Previous Year - 9,38,88,120)
Equity shares Rs. 10 each fully paid |
938.900 |
|
Holderind Investments Limited,
Mauritius, Holding Company of Holcim (India)
Private Limited 5,41,000
(Previous Year - 5,41,000)
Equity shares Rs. 10 each fully paid |
5.400 |
Both
these Companies are subsidiaries of Holcim Ltd.,
Switzerland, the ultimate holding Company
The Company has issued
total 63,537 (Previous Year -
1,20,938) Equity shares Rs. 10 each fully paid
during the period of five years immediately preceding the reporting date on
exercise of options granted under the employee stock option plan, wherein part
consideration was received in form of employee services.
DETAILS
OF SHAREHOLDERS HOLDING MORE THAN 5% SHARES IN THE COMPANY
|
PARTICULAR |
AS ON 31.12.2013 |
|
|
|
No. of Shares |
% Holding |
|
Holcim
(India) Private Limited |
93888120 |
50.01 |
|
Life
Insurance Corporation of India |
15392891 |
8.20 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1879.500 |
1879.500 |
1879.500 |
|
(b) Reserves & Surplus |
76368.900 |
71948.500 |
70043.200 |
|
(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) |
78248.400 |
73828.000 |
71922.700 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
850.300 |
5060.800 |
|
(b) Deferred tax
liabilities (Net) |
5072.700 |
5169.200 |
5183.600 |
|
(c) Other long term
liabilities |
4067.500 |
3810.900 |
3722.600 |
|
(d) long-term provisions |
890.900 |
923.600 |
1230.600 |
|
Total Non-current
Liabilities (3) |
10031.100 |
10754.000 |
15197.600 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
6392.000 |
6604.900 |
7102.600 |
|
(c) Other current
liabilities |
15456.900 |
15158.100 |
15170.600 |
|
(d) Short-term provisions |
10807.500 |
12917.300 |
10499.400 |
|
Total Current Liabilities
(4) |
32656.400 |
34680.300 |
32772.600 |
|
|
|
|
|
|
TOTAL |
120935.900 |
119262.300 |
119892.900 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
55031.300 |
58628.500 |
62062.600 |
|
(ii) Intangible Assets |
8.300 |
10.200 |
12.700 |
|
(iii) Capital
work-in-progress |
8196.100 |
3113.000 |
3656.300 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
1768.100 |
1946.700 |
4451.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
8668.300 |
5642.000 |
4478.800 |
|
(e) Other Non-current
assets |
3082.400 |
1658.400 |
561.400 |
|
Total Non-Current Assets |
76754.500 |
70998.800 |
75222.800 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
20172.100 |
23588.800 |
11798.500 |
|
(b) Inventories |
11214.700 |
11335.500 |
10995.400 |
|
(c) Trade receivables |
3972.200 |
3034.500 |
1877.400 |
|
(d) Cash and cash
equivalents |
5033.800 |
6783.800 |
16525.600 |
|
(e) Short-term loans and
advances |
3593.900 |
3232.900 |
3323.200 |
|
(f) Other current assets |
194.700 |
288.000 |
150.000 |
|
Total Current Assets |
44181.400 |
48263.500 |
44670.100 |
|
|
|
|
|
|
TOTAL |
120935.900 |
119262.300 |
119892.900 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
111689.400 |
113579.600 |
96602.900 |
|
|
|
Other Income |
2237.900 |
2648.200 |
1919.100 |
|
|
|
TOTAL (A) |
113927.300 |
116227.800 |
98522.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost
of material consumed |
16214.800 |
15514.700 |
11403.000 |
|
|
|
Purchase
of stock-in-trade |
2328.600 |
1587.500 |
1697.800 |
|
|
|
Employee
Benefits expenses |
6616.800 |
6166.500 |
5330.100 |
|
|
|
Power
and fuel |
23823.400 |
23822.600 |
21833.000 |
|
|
|
Freight
and Forwarding expense |
23161.100 |
22211.700 |
18944.400 |
|
|
|
Other
expenses |
23191.500 |
22120.600 |
19131.300 |
|
|
|
Exceptional
items |
0.000 |
3353.800 |
0.000 |
|
|
|
Changes in inventories of finished goods, work in progress and stock in
trade |
65.300 |
200.200 |
(943.900) |
|
|
|
TOTAL (B) |
95401.500 |
94977.600 |
77395.700 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
18525.800 |
21250.200 |
21126.300 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
516.700 |
1146.500 |
969.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
18009.100 |
20103.700 |
20157.200 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5739.500 |
5588.800 |
4753.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
12269.600 |
14514.900 |
15404.200 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1312.000 |
3903.000 |
2151.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
10957.600 |
10611.900 |
13252.600 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
38618.300 |
38215.400 |
33814.100 |
|
|
|
|
|
|
|
|
|
Add / (Less) |
ADJUSTMENT
PURSUANT TO AMALGAMATION |
0.000 |
(2162.900) |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
2065.200 |
2065.200 |
2065.200 |
|
|
|
Proposed Final Dividend |
3567.200 |
3567.200 |
3191.700 |
|
|
|
Tax on Equity Dividends |
957.200 |
913.700 |
852.800 |
|
|
|
Previous Year Dividend Distribution Tax |
27.600 |
0.000 |
(14.900) |
|
|
|
Transfer to General Reserve |
1200.000 |
1500.000 |
2500.000 |
|
|
|
Transfer to Debenture Redemption Reserve |
0.000 |
0.000 |
250.000 |
|
|
|
Transfer to Amortization Reserve |
0.000 |
0.000 |
6.500 |
|
|
BALANCE CARRIED
TO THE B/S |
41758.700 |
38618.300 |
38215.400 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
7.800 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
560.700 |
1030.000 |
1050.700 |
|
|
|
Stores & Spare Parts |
536.500 |
1075.000 |
764.500 |
|
|
|
Coal |
2094.400 |
4025.200 |
2001.300 |
|
|
|
Capital Goods |
1043.500 |
510.000 |
213.800 |
|
|
TOTAL IMPORTS |
4235.100 |
6640.200 |
4030.300 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
-
Basic |
58.36 |
56.52 |
70.59 |
|
|
|
-
Diluted |
58.23 |
56.38 |
70.42 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
PAT / Total Income |
(%) |
9.62
|
9.13 |
13.45
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.99
|
12.77 |
15.95
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.05
|
12.70 |
13.78
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.20 |
0.21
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.01 |
0.07
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35
|
0.14 |
1.36
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
1879.500 |
1879.500 |
1879.500 |
|
Reserves & Surplus |
70043.200 |
71948.500 |
76368.900 |
|
Net worth |
71922.700 |
73,828.000 |
78248.400 |
|
|
|
|
|
|
long-term borrowings |
5060.800 |
850.300 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
5060.800 |
850.300 |
0.000 |
|
Debt/Equity ratio |
0.070 |
0.012 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
96602.900 |
113579.600 |
111689.400 |
|
|
|
17.574 |
(1.664) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
96602.900 |
113579.600 |
111689.400 |
|
Profit |
13252.600 |
10611.900 |
10957.600 |
|
|
13.72% |
9.34% |
9.81% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
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 |
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10192504 |
27/11/2009 * |
3,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI - 400001, MAHARASHTRA, INDIA |
A76338987 |
|
2 |
10145237 |
29/07/2009 * |
2,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI - 400001, MAHARASHTRA, INDIA |
A67783993 |
* Date of charge modification
|
LITIGATION DETAILS |
|||||||
|
|
|||||||
|
Bench:- Bombay |
|||||||
|
PRESENTATION DATE : 11.06.2014 |
|||||||
|
Stamp No:- |
WPL/1535/2014 |
Failing Date:- |
11.06.2014 |
Reg. No.:- |
WP/1800/2014 |
Reg. Date:- |
30.07.2014 |
|
|
|||||||
|
Petitioner:- |
THE ASSOCIATED CEMENT STAFF UNION |
Respondent:- |
ACC LIMITED |
||||
|
Petn.Adv:- |
PANKAJ M. Patel |
Resp. Adv: |
--- |
||||
|
District:- |
MUMBAI |
||||||
|
|
|||||||
|
Bench:- |
SINGLE |
Category:- |
WRIT RETITION (LABOUR MATTERS) |
||||
|
Status:- |
Pre-Admission |
Stage:- |
|
||||
|
Next Date:- |
08.10.2014 |
|
|||||
|
Coram:- |
ACCORDING TO SITTING LIST |
||||||
|
|
|
||||||
|
Act:- |
Industrial Dispute Act, 1947 |
||||||
UNSECURED LOAN
|
Particulars |
As
on 31.12.2013 [Rs. in Millions] |
As
on 31.12.2012 [Rs. in Millions] |
|
Long Term
Borrowings |
|
|
|
Deferred
payment liability |
0.000 |
16.200 |
|
Deferred
sales tax loans |
0.000 |
14.100 |
|
TOTAL
|
0.000 |
30.300 |
COMPANY OVERVIEW
Subject is a public limited
company domiciled and headquartered in India and incorporated under the provision
of Companies Act, 1956. Its shares are listed on two stock exchanges in India.
The Company is engaged in the manufacturing and selling of Cement and Ready mix
concrete. The Company caters mainly to the domestic market.
ECONOMIC SCENARIO AND OUTLOOK:
Indian economic growth in
2013 had slowed down to 4.5%-5% which is the lowest in a decade. The high
borrowing cost to combat inflation coupled with lower private consumption, low
investment in infrastructure and other sectors were responsible for this.
Although agriculture and allied sectors had shown improvement following a good
monsoon and exports grew due to the depreciation in the value of the Indian
Rupee, the economic growth was mainly pulled down by the contraction of the
manufacturing sector. The low economic growth appears to have bottomed out and
a gradual increase in economic activity is expected from the middle of 2014.
FINANCE:
The Company’s cash and cash
equivalent as at December 31, 2013 was Rs. 26210.000
Millions. The Company continues to focus on judicious management of its working
capital. Receivables, inventories and other working capital parameters are kept
under strict check through continuous monitoring. The Company’s debt programme
continues to enjoy an “AAA” rating from CRISIL. During the year under review,
the Company had given an option of premature redemption of Non-Convertible
Debentures to the holders of its Privately Placed Debentures.
Non-Convertible Debentures
of the aggregate value of Rs. 1050.000 Millions, stand
prematurely redeemed whilst debentures of the aggregate value of Rs. 200.000 Millions, stand redeemed on maturity as on
December 31, 2013. As on date, Non-Convertible Debentures aggregating Rs. 320.000 Millions remain outstanding.
STATEMENT OF STANALONE
UNAUDITED RESULT FOR THE QUARTER SIX MONTHS ENDED 30TH JUNE 2014
(Rs. In Millions)
|
Particulars |
3 Months
Ended |
Preceding 3 Months
Ended |
Year to date figures current period ended |
|
30.06.2014 |
31.03.2014 |
30.06.2014 |
|
|
|
Unaudited |
Unaudited |
Unaudited |
|
Part - I |
|
|
|
|
1. Income from Operations |
|
|
|
|
(a) Net
Sales/Income from Operations
(Net of Excise Duty) |
30089.900 |
29671.400 |
59761.300 |
|
(b) Other Operating
Income |
505.500 |
593.800 |
1099.300 |
|
Total Income from Operation |
30595.400 |
30265.200 |
60860.600 |
|
|
|
|
|
|
2. Expenses |
|
|
|
|
Cost of materials
consumed |
4360.000 |
4615.200 |
8975.200 |
|
Purchases of Stock in Trade |
519.700 |
340.200 |
859.900 |
|
Changes in inventories of
finished goods, work-in-progress and stock-in-trade |
153.200 |
435.200 |
588.400 |
|
Employee benefits expense |
1936.300 |
1690.900 |
3627.200 |
|
Depreciation and
amortization expense |
1377.000 |
1365.600 |
2742.600 |
|
Power and Fuel |
6207.300 |
6091.800 |
12299.100 |
|
Freight and forwarding
expense |
6755.400 |
6674.900 |
13430.300 |
|
Other expenses |
6158.000 |
6169.900 |
12327.900 |
|
Total Expenses |
27466.900 |
27383.700 |
54850.600 |
|
|
|
|
|
|
3. Profit/(Loss) from
Operations before Other Income, finance cost* and Exceptional Items (1-2) |
3128.500 |
2881.500 |
6010.000 |
|
4. Other income |
370.700 |
1074.300 |
1445.000 |
|
6. Profit/(Loss) from ordinary
activities before finance costs and exceptional Items (3+4) |
3499.200 |
3955.800 |
7455.000 |
|
6. Finance Costs |
111.100 |
108.200 |
219.300 |
|
7. Profit/(Loss) from
ordinary activities after finance costs but before exceptional items (5-6) |
3388.100 |
3847.600 |
7235.700 |
|
8. Exceptional Hems |
-- |
-- |
-- |
|
9. Profit/(Loss) from
ordinary activities before tax (7-8) |
3388.100 |
3847.600 |
7235.700 |
|
10. Tax Expense |
977.900 |
(139.700) |
838.200 |
|
11. Net Profit/(Loss) for
the period (9-10) |
2410.200 |
3987.300 |
6397.500 |
|
12. Paid-up Equity Share
Capital (Pace Value per share : Rs.1/- |
1879.500 |
1879.500 |
1879.500 |
|
Paid-up Debt Capital |
|
|
350.300 |
|
13. Reserves excluding Revolution
Reserve as per balance sheet of previous accounting year |
|
|
|
|
|
|
|
|
|
14. Earning* per share of
Rs.1/- each (Not Annualised): |
|
|
|
|
Basic and Diluted EPS before Extraordinary items |
12.84 |
21.24 |
34.08 |
|
Basic and Diluted EPS after Extraordinary items |
12.81 |
21.19 |
33.99 |
|
|
|
|
|
|
Debt Equity Ratio |
|
|
0.004 |
|
Debt service coverage ratio |
|
|
730.96 |
|
Interest service coverage ratio |
|
|
730.96 |
|
|
|
|
|
|
A. PARTICULARS OF SHAREHOLDING |
|
|
|
|
Public shareholding |
|
|
|
|
Number of shares |
93316236 |
93316236 |
93316236 |
|
Percentage of
Shareholding |
49.70 |
49.70 |
49.70 |
|
|
|
|
|
|
Promoters and Promoter Group Shareholding |
|
|
|
|
Pledged /encumbered |
|
|
|
|
Number of shares |
Nil |
Nil |
Nil |
|
Percentage of shares (as
a % of the total shareholding of promoter and promoter group) |
Nil |
Nil |
Nil |
|
Percentage of shares (as
a % of the total share capital of the company) |
Nil |
Nil |
Nil |
|
|
|
|
|
|
Non-encumbered |
|
|
|
|
Number of shares |
94429120 |
94429120 |
94429120 |
|
Percentage of shares (as
a % of the total shareholding of promoter and promoter group] |
100.00 |
100.00 |
100.00 |
|
Percentage of shares (as a
% of the total share capital of the company) |
50.30 |
50.30 |
50.30 |
|
B |
INVESTOR
COMPLAINTS : |
3 months Ended 30.06.2014 |
|
|
Pending at the beginning of the quarter |
-- |
|
|
Received during the quarter |
12 |
|
|
Disposed of during the quarter |
12 |
|
|
Remaining unresolved at the end of the quarter |
-- |
SEGMENT WISE
REVENUE, RESULTS AND CAPITAL EMPLOYED
|
Sr. No. |
Particular |
3 Months
Ended |
Preceding 3 Months Ended |
Year to date figures current period ended |
|
|
|
30.06.2014 |
31.03.2014 |
30.06.2014 |
|
|
|
Unaudited |
Unaudited |
Unaudited |
|
1. |
Segment Revenue |
|
|
|
|
|
Cement |
29030.400 |
28784.400 |
57814.800 |
|
|
Ready Mix Concrete |
1912.600 |
1819.200 |
3731.800 |
|
|
TOTAL |
30943.000 |
30603.600 |
61546.600 |
|
|
|
|
|
|
|
|
Less: Inter Segment
Revenue |
347.600 |
338.400 |
686.000 |
|
|
|
|
|
|
|
|
Net Sales/Income
From Operations |
30595.400 |
30265.200 |
60860.600 |
|
|
|
|
|
|
|
1. |
Segment Revenue |
|
|
|
|
|
Cement |
3057.400 |
2863.900 |
5921.300 |
|
|
Ready Mix Concrete |
64.400 |
32.000 |
96.400 |
|
|
TOTAL |
3121.800 |
2895.900 |
6017.700 |
|
|
|
|
|
|
|
|
Less: |
|
|
|
|
|
Less : Finance cost |
111.100 |
108.200 |
219.300 |
|
|
Other Un-allocable Expenditure net off Un-allocable income |
(75.800) |
(198.000) |
(273.800) |
|
|
Add : Interest Income |
301.600 |
861.900 |
1163.500 |
|
|
TOTAL PROFIT
BEFORE TAX |
3388.100 |
3847.600 |
7235.700 |
|
|
|
|
|
|
|
3. |
CAPITAL EMPLOYED |
|
|
|
|
|
(Segment
Assets-Segment Liabilities) |
|
|
|
|
|
Cement |
71667.500 |
69642.700 |
71667.500 |
|
|
Ready Mix Concrete |
1326.000 |
1253.000 |
1326.000 |
|
|
Unallocated |
8357.600 |
1139.900 |
8357.600 |
|
|
TOTAL |
81351.100 |
82235.600 |
81351.100 |
STATEMENT OF ASSETS AND LIABILITIES
|
SOURCES
OF FUNDS |
|
|
Current
half year end 30.06.2014 Unaudited |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
1879.500 |
|
(b) Reserves & Surplus |
|
|
79471.600 |
|
(c) Money received against
share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
81351.100 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
0.000 |
|
(b) Deferred tax liabilities
(Net) |
|
|
5271.000 |
|
(c) Other long term
liabilities |
|
|
0.000 |
|
(d) long-term provisions |
|
|
912.900 |
|
Total
Non-current Liabilities (3) |
|
|
6183.900 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
0.000 |
|
(b) Trade payables |
|
|
7641.200 |
|
(c) Other current liabilities |
|
|
18851.500 |
|
(d) Short-term provisions |
|
|
9459.700 |
|
Total
Current Liabilities (4) |
|
|
35952.400 |
|
|
|
|
|
|
TOTAL |
|
|
123487.400 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
|
69683.500 |
|
(ii) Intangible Assets |
|
|
0.000 |
|
(iii) Capital work-in-progress |
|
|
0.000 |
|
(iv) Intangible assets under
development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
1768.100 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
7873.600 |
|
(e) Other Non-current assets |
|
|
2998.600 |
|
Total
Non-Current Assets |
|
|
82323.800 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
15607.500 |
|
(b) Inventories |
|
|
12642.000 |
|
(c) Trade receivables |
|
|
4954.400 |
|
(d) Cash and cash equivalents |
|
|
2799.800 |
|
(e) Short-term loans and
advances |
|
|
4973.600 |
|
(f) Other current assets |
|
|
186.300 |
|
Total
Current Assets |
|
|
41163.600 |
|
|
|
|
|
|
TOTAL |
|
|
123487.400 |
NOTE :
1.The above results have been reviewed by the Audit Committee and approved by the Board of directors at its meeting held on July 24, 2014. The Statutory Auditors have carried out the limited review of the above results.
2. a. Other income includes Rs. 5,60.100 Millions for the quarter ended March 31,2014 and period ended June 30, 2014 and Rs. 3,99.000 Millions for the period ended June 30, 2013 and year ended December 31, 2013, written back towards interest on income tax relating to earlier years.
b. Tax expense is net of credit relating to earlier years, Rs.
11,27.500 Millions for the quarter ended March 31, 2014 and period ended June
30, 2014, Rs. 1408.300 Millions for the period ended
June 30, 2013 and Rs. 2167.400 Millions for the year
ended December 31, 2013.
3. The Competition Commission of India had imposed a penalty of Rs. 11475.900 Millions in June 2012, concerning alleged
contravention of the provisions of the Competition Act, 2002. On Company’s
appeal. Competition Appellate Tribunal (COMPAT) had stayed the penalty with a
condition to deposit 10% of penalty amount, which was deposited. Based on the
advice of external legal counsel, the Company believes that it has good grounds
for a successful appeal. Accordingly, no provision is considered necessary in
the above financial results.
4. Ratios have been computed as follows:
Interest Service Coverage Ratio = Earnings before Finance
cost, Depreciation and Tax / Interest on debt
Debt Service Coverage Ratio = Earnings before Finance cost, Depreciation and
Tax / (Interest on debt + Principal repayment) Debt comprises long-term
borrowings and current maturities of long-term borrowings.
5. Figures for the previous periods have been restated / reclassified wherever
necessary.
6. The Board of Directors of the Company have declared Interim Dividend of Rs. 15 per equity share.
FIXED ASSETS:
Tangible Assets:
·
Freehold Land
·
Leasehold Land
·
Buildings
·
Plant and Machinery
·
Roads, Bridges and Fences
·
Railway Sidings
·
Rolling Stock
·
Furniture, Fixtures and Equipments
·
Vehicles
Intangible Assets:
·
Computer Software
·
Mining Right
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 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.61.75 |
|
|
1 |
Rs.100.07 |
|
Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
73 |
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.