MIRA
INFORM REPORT
|
Report Date : |
08.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
GRASIM INDUSTRIES LIMITED PULP & FIBRE INNOVATION CENTRE (DIVISION OF GRASIM INDUSTRIES
LIMITED) |
|
|
|
|
Registered
Office : |
Birlagram, Nagda, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
25.08.1947 |
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Com. Reg. No.: |
10-000410 |
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Capital
Investment / Paid-up Capital : |
Rs. 917.900 Millions |
|
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|
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CIN No.: [Company Identification
No.] |
L17124MP1947PLC000410 |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACG4464B |
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Legal Form : |
A Public Limited Liability company. The company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturer and Exporter of Cellulose Fiber |
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|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 400000000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Financial position of the company seems to be decent. Trade relations are fair. Business is active. Payment terms are
usually correct. The company can be considered normal for business dealings at usual
trade 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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 Millions
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.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Anil Mukkolath |
|
Designation : |
Group Leader |
|
Contact No.: |
91-9892947661 |
|
Date : |
22.09.2014 |
LOCATIONS
|
Registered Office : |
Birlagram, Nagda, Ujjain - 456331, Madhya Pradesh, INdia |
|
Tel. No.: |
91-22-67603136 |
|
Mobile No.: |
91-9892947661 (Mr. Anil Mukkolath) |
|
Fax No.: |
91-22-27403299 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
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|
|
|
Factory : |
Kosumba Town, Kharach- 394120, Surat, Gujarat, India |
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|
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Research Center Address : |
Plot No.1/A-1, MIDC Industrial Area, Taloja, Panvel, Riagad - 410208,
India |
DIRECTORS
As on: 17.08.2013
|
Name : |
Mr. Birla Mangalam Kumar |
|
Designation : |
Director |
|
Address : |
Mangal Adityayan, 20 Carmichel Road, Mumbai – 400026, Maharashtra,
India |
|
Date of Birth/Age : |
14.06.1967 |
|
Date of Appointment : |
14.10.1992 |
|
DIN No.: |
00012813 |
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|
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|
Name : |
Ms. Rajasshree Birla |
|
Designation : |
Director |
|
Address : |
Mangal Adityayan, 20 Carmichel Road, Mumbai – 400026, Maharashtra,
India |
|
Date of Birth/Age : |
15.09.1945 |
|
Date of Appointment : |
14.03.1996 |
|
DIN No.: |
00022995 |
|
|
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|
Name : |
Mr. Laxman Madhav Apte |
|
Designation : |
Director |
|
Address : |
14 – A, The Club, Near Mangal Aand Hospital, Swatik Park, Chembur,
Mumbai – 400071, Maharashtra, India |
|
Date of Birth/Age : |
05.10.1932 |
|
Date of Appointment : |
06.09.2014 |
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Voter ID No.: |
MT/04/024/249290 |
|
DIN No.: |
00003656 |
|
|
|
|
Name : |
Mr. Bhargava Bhupendranath |
|
Designation : |
Director |
|
Address : |
Flat # 1201, Guimohar Apartment, A wing Ceaser Road, Amboli, Andheri
(W), Mumbai – 400058, Maharashtra, India |
|
Date of Birth/Age : |
16.01.1936 |
|
Date of Appointment : |
06.09.2014 |
|
DIN No.: |
00001823 |
|
|
|
|
Name : |
Mr. Bhargava Chandra Ravindra |
|
Designation : |
Director |
|
Address : |
220, Sector 15 – A, Noida, Gautam Buddha Nagar, 201301, Uttar Pradesh,
India |
|
Date of Birth/Age : |
30.07.1934 |
|
Date of Appointment : |
06.09.2014 |
|
Voter ID No.: |
FJF4416137 |
|
DIN No.: |
00007620 |
|
|
|
|
Name : |
Mr. Nair Mohanraj Narendranathan |
|
Designation : |
Director |
|
Address : |
Principal’s Quarter, Jeevan Vidya, ZTC, LIC of India, Prithvikkam,
Ambattur, Chennai – 600053, Tamilnadu, India |
|
Date of Birth/Age : |
29.11.1953 |
|
Date of Appointment : |
07.09.2012 |
|
Voter ID No.: |
LVY1813518 |
|
DIN No.: |
00181969 |
|
|
|
|
Name : |
Mr. Shroff Suresh Cyril |
|
Designation : |
Director |
|
Address : |
67, Roopam, Worli Sea Face, Mumbai – 400030, Maharashtra, India |
|
Date of Birth/Age : |
07.11.1959 |
|
Date of Appointment : |
06.09.2014 |
|
DIN No.: |
00018979 |
|
|
|
|
Name : |
Mr. Shailendra Kumar Jain |
|
Designation : |
Director |
|
Address : |
Grasim Staff Colony, Birlagram, Nagada, Ujjain, 456331, Madhya
Pradesh, India |
|
Date of Birth/Age : |
04.12.1943 |
|
Date of Appointment : |
20.08.2010 |
|
Voter ID No.: |
MP/38/263/333643 |
|
DIN No.: |
00022454 |
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|
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|
Name : |
Mr. Rathi Dass Dwarka |
|
Designation : |
Director |
|
Address : |
82, Jolly Maker Apartments II, Cuffe Parade, Mumbai – 400005, Maharashtra,
India |
|
Date of Birth/Age : |
11.01.1947 |
|
Date of Appointment : |
01.06.2009 |
|
DIN No.: |
00012575 |
|
|
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|
Name : |
Mr. Connelly Martin Thomas |
|
Designation : |
Director |
|
Address : |
201, Chandler LN, Cherrington, Wilmington, 19807 DE, USA |
|
Date of Birth/Age : |
24.06.1952 |
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Date of Appointment : |
06.09.2014 |
|
DIN No.: |
03083495 |
|
|
|
|
Name : |
Mr. Maheshwari Kishore Krishna |
|
Designation : |
Managing director |
|
Address : |
22 Chitrakoot Coop Hsg Society, 2nd Floor, Altamount Road,
Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
01.03.1955 |
|
Date of Appointment : |
06.03.2012 |
|
DIN No.: |
00017572 |
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|
|
|
Name : |
Mr. Gupta Kumar Adesh |
|
Designation : |
Whole-time director |
|
Address : |
701, Tagore Avenue, Tagore Road, Santacruz, Mumbai – 400054,
Maharashtra, India |
|
Date of Birth/Age : |
11.09.1956 |
|
Date of Appointment : |
03.10.2009 |
|
DIN No.: |
00020403 |
KEY EXECUTIVES
|
Name : |
Mr. Malu Ashok |
|
Designation : |
Secretary |
|
Address : |
Meriddian Apt. Building No. 5 Flat No. 702, Veera Desai Road, Andheri
(East), Mumbai – 400058, Maharashtra, India |
|
Date of Appointment : |
28.04.2001 |
|
PAN No.: |
ACAPM5528R |
MAJOR SHAREHOLDERS
As on: 17.08.2013
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Birla Mangalam Kumar |
|
23915 |
|
Ms. Rajasshree Birla |
|
72280 |
|
Mr. Laxman Madhav Apte |
|
130 |
|
Mr. Bhargava Bhupendranath |
|
357 |
|
Mr. Bhargava Chandra Ravindra |
|
227 |
|
Mr. Nair Mohanraj Narendranathan |
|
100 |
|
Mr. Shroff Suresh Cyril |
|
137 |
|
Mr. Shailendra Kumar Jain |
|
16985 |
|
Mr. Rathi Dass Dwarka |
|
7550 |
|
Mr. Connelly Martin Thomas |
|
100 |
|
Mr. Maheshwari Kishore Krishna |
|
1497 |
|
Mr. Gupta Kumar Adesh |
|
980 |
|
Mr. Malu Ashok |
|
1171 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
41.03 |
|
Public financial companies |
|
10.21 |
|
Nationalized or other banks |
|
0.23 |
|
Mutual funds |
|
5.50 |
|
Bodies corporate |
|
35.75 |
|
Directors or relatives of directors |
|
0.17 |
|
Other top fifty shareholders |
|
0.95 |
|
Others |
|
9.16 |
|
|
|
|
|
Total
|
|
100.00 |
%20-286961%2008-Sep-2014_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Cellulose Fiber |
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|
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|
Products : |
·
Coco fiber ·
Pulled fiber ·
Polyester fiber ·
Cellulose fiber ·
Recycled fibres ·
Natural fibre |
|
|
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|
Exports : |
|
|
Products : |
·
Fiber |
|
Countries : |
·
US ·
Europe ·
Asia |
|
|
|
|
Imports : |
|
|
Products : |
·
Bulp |
|
Countries : |
·
Canada ·
Europe |
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|
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|
Terms : |
|
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Selling : |
Cash and Credit |
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|
|
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and Manufacturer |
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No. of Employees : |
50,000 (Approximately) |
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|
Bankers : |
·
State Bank of India, Securities and Service
Division (Capital Marketing Branch), Maimbai Main Branch Building, Mumbai
Samachar <arg. Mumbai – 400023, Maharashtra, India ·
HDFC Bank, Aditya Birla Building, Worli,
Mumbai-400023, Maharashtra, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
Il & Fs Trust Company Limited, Il & Fs Financial Centreplot No
C22 G Block Bandra, Kurla Complex Bandra East, Mumbai - 400051, Maharashtra,
India |
|
|
|
|
Auditors. 1 : |
|
|
Name : |
G.P. Kapadia and Company Chartered Accountants |
|
Address : |
4TH Floor, Human House, Hamam Street, Fort, Mumbai –
400001, Maharashtra, India |
|
PAN No.: |
AAAFK1144P |
|
|
|
|
Auditors. 2 : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Indiabulls Finance Centre, Tower 3, 27th – 32nd Floor,
Elphistone Hill Compound, Senapati Bapat Marg, Elphinstone (W), Mumbai –
400013, Maharashtra, India |
|
PAN No.: |
AAAFK1144P |
|
|
|
|
Sub
Subsidiaries: |
·
UltraTech Cement Lanka Private Limited, Sri Lanka ·
Dakshin Cement Limited ·
Harish Cement Limited ·
Emirates Power Company Ltd., Bangladesh ·
Emirates Cement Bangladesh Ltd., Bangladesh ·
PT Ultra Tech Mining Indonesia, Indonesia (w.e.f.
12th April, 2011) ·
UltraTech Cement SA (PTY), South Africa (w.e.f.
09th April, 2011) ·
Gotan Lime Stone Khanij Udyog Private Limited
(w.e.f. 23rd July, 2012) ·
Arabian Gulf Cement Co WLL, Bahrain ·
Arabian Cement Industry LLC, Abu Dhabi, UAE ·
Al Nakhla Crusher LLC, Fujairah, UAE ·
Star Cement Co LLC, RAK, UAE ·
Star Cement Co LLC, Dubai, UAE ·
UltraTech Cement Middle East Investment Limited,
Dubai, UAE ·
Ultra Tech Cement Mozambique Limitada, Mozambique
(w.e.f. 22nd February, 2012) ·
PT UltraTech Investment Indonesia, Indonesia
(w.e.f. 26th March, 2012) |
|
|
|
|
SubsidiarieS: |
·
Sun God Trading and Investments Limited ·
Samruddhi Swastik Trading and Investments Limited ·
Grasim Bhiwani Textiles Limited ·
Aditya Birla Power Ventures Limited (w.e.f. 29th
July, 2011) ·
Ultra Tech Cement Limited |
|
|
|
|
Joint
Ventures: |
·
A V Cell Inc., Canada ·
A V Nackawic Inc., Canada ·
Birla Jingwei Fibres Company Limited, China ·
Birla Lao Pulp & Plantations Company Limited,
Laos ·
Aditya Group AB, Sweden (w.e.f. 1st October,
2012) ·
Aditya Birla Science & Technology Company
Limited ·
Idea Cellular Limited ·
Aditya Birla Elyaf Sanayi Ve Ticaret Anonim
Sirketi, Turkey (w.e.f. 30th December, 2011) ·
Bhubaneswari Coal Mining Limited ·
A V Terrace Bay Inc., Canada (w.e.f. 12th July,
2012) |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
950,00,000 |
Equity Shares |
Rs.10/- each |
Rs. 950.000 Millions |
|
5,50,000 |
Preference Shares |
Rs. 100/- each |
Rs. 55.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 1005.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
91,796,806 |
Equity Shares |
Rs.10/- each |
Rs. 917.968
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
917.900 |
917.200 |
917.100 |
|
(b) Reserves & Surplus |
100300.700 |
90076.700 |
80420.200 |
|
(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) |
101218.600 |
90993.900 |
81337.300 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
9809.200 |
5673.400 |
4878.200 |
|
(b) Deferred tax liabilities (Net) |
3439.100 |
2392.400 |
2298.200 |
|
(c) Other long
term liabilities |
129.100 |
121.200 |
98.300 |
|
(d) long-term
provisions |
434.400 |
390.400 |
371.900 |
|
Total Non-current
Liabilities (3) |
13811.800 |
8577.400 |
7646.600 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
1908.200 |
630.000 |
619.200 |
|
(b) Trade
payables |
3456.900 |
2950.500 |
2235.300 |
|
(c)
Other current liabilities |
5396.500 |
2900.600 |
4015.300 |
|
(d) Short-term
provisions |
4725.700 |
4308.300 |
4212.300 |
|
Total Current
Liabilities (4) |
15487.300 |
10789.400 |
11082.100 |
|
|
|
|
|
|
TOTAL |
130517.700 |
110360.700 |
100066.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
20702.500 |
15471.100 |
15411.500 |
|
(ii)
Intangible Assets |
17.100 |
14.200 |
6.600 |
|
(iii)
Capital work-in-progress |
24250.900 |
4769.400 |
565.300 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
45188.100 |
44744.500 |
36687.800 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
4394.500 |
6142.700 |
1429.200 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
94553.100 |
71141.900 |
54100.400 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
17056.200 |
23552.900 |
32414.700 |
|
(b)
Inventories |
7893.400 |
6309.100 |
4216.500 |
|
(c)
Trade receivables |
5166.300 |
5092.300 |
4556.300 |
|
(d) Cash
and cash equivalents |
162.700 |
110.200 |
146.500 |
|
(e) Short-term
loans and advances |
5420.100 |
3918.700 |
4257.900 |
|
(f)
Other current assets |
265.900 |
235.600 |
373.700 |
|
Total
Current Assets |
35964.600 |
39218.800 |
45965.600 |
|
|
|
|
|
|
TOTAL |
130517.700 |
110360.700 |
100066.000 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
52550.100 |
49735.600 |
46400.600 |
|
|
|
Other Income |
4345.700 |
4634.600 |
2977.700 |
|
|
|
TOTAL (A) |
56895.800 |
54370.200 |
49378.300 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
26094.100 |
24053.300 |
19496.300 |
|
|
|
Purchases of Stock-in-Trade |
48.700 |
157.000 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(265.600) |
(1321.000) |
(100.900) |
|
|
|
Employees benefits expense |
3736.700 |
3317.600 |
2956.300 |
|
|
|
Other expenses |
12054.400 |
10945.200 |
8858.600 |
|
|
|
TOTAL
(B) |
41668.300 |
37152.100 |
31210.300 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
15227.500 |
17218.100 |
18168.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
390.900 |
358.200 |
458.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
14836.600 |
16859.900 |
17709.900 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1592.100 |
1442.000 |
1762.900 |
|
|
|
|
|
|
|
|
|
Less/
Add |
EXCEPTIONAL
ITEMS BEFORE TAX |
2044.300 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
15288.800 |
15417.900 |
15947.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
3028.900 |
3647.900 |
4129.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
12259.900 |
11770.000 |
11817.100 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
12259.900 |
11770.000 |
11817.100 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
12631.400 |
11404.300 |
8455.100 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
133.62 |
128.33 |
128.86 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
21.55 |
21.65 |
23.93 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
29.09 |
31.00 |
34.37 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
25.03 |
25.34 |
25.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.17 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.12 |
0.07 |
0.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.32 |
3.63 |
4.15 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
917.100 |
917.200 |
917.900 |
|
Reserves & Surplus |
80420.200 |
90076.700 |
100300.700 |
|
Net worth |
81337.300 |
90993.900 |
101218.600 |
|
|
|
|
|
|
long-term borrowings |
4878.200 |
5673.400 |
9809.200 |
|
Short term borrowings |
619.200 |
630.000 |
1908.200 |
|
Total
borrowings |
5497.400 |
6303.400 |
11717.400 |
|
Debt/Equity
ratio |
0.068 |
0.069 |
0.116 |
%20-286961%2008-Sep-2014_files/image004.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
46400.600 |
49735.600 |
52550.100 |
|
|
|
7.187 |
5.659 |
%20-286961%2008-Sep-2014_files/image006.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
46400.600 |
49735.600 |
52550.100 |
|
Profit |
11817.100 |
11770.000 |
12259.900 |
|
|
25.47% |
23.67% |
23.33% |
%20-286961%2008-Sep-2014_files/image008.gif)
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
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 |
Yes |
|
34] |
External Agency Rating, if available |
No |
UNSECURED
LOAN (Rs.
In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
Long Term
Borrowing |
|
|
|
Deferred sales tax loan |
583.300 |
753.700 |
|
|
|
|
|
Total |
583.300 |
753.700 |
FINANCIAL
PERFORMANCE:-
Your Company has
reported improved performance for the year, achieving higher Revenue and PBIDT,
despite the economic slowdown as reflected in decline in the Indian GDP growth to
~5%. The Company’s Revenue increased by 11% at Rs. 279040.000 Millions (Rs.
252450.000 Millions). PBIDT was up from Rs. 6321.000 Millions to Rs. 64530.000,
a growth of 4%, led by improved volumes in the VSF business and cost
optimization. Net Profit was Rs. 27040.000 Millions as compared to Rs.
26470.000 Millions in the FY 2011-12.
AWARDS AND
ACCOLADES:-
Some of the
significant accolades earned by your Company during the year include:
Certificate of Excellence Award for the year 2011-12 from Container Corporation
of India Limited for achieving the largest volume as importersin terms of
Twenty Foot Equivalent Units (TEUs) at Railway Container Terminal, Vadodara:
Birla Cellulosic Division, Kharach
Gold Award for the
year 2012 from Greentech Foundation, New Delhi, for outstanding achievement in
Environment Management in the Chemical Sector: Chemical Division, Nagda
Bhamashah Award
for the year 2011-12 from Commercial Tax Dept., Govt. of Madhya Pradesh, for
being the third largest tax payer: Caustic Soda Membrane Cell Division, Nagda
RESEARCH AND
DEVELOPMENT:-
Significant
progress was made during the FY 2012-13 in building the technology capabilities
to address competitive market threats and begin laying the groundwork for significant
profitable growth. Key technology programmers were developed in the areas of
fibre and cellulose pulp quality and towards enhanced product performance,
reduced production costs and improved environmental sustainability. There is
progress on building enabling capabilities in the areas of facilities and
infrastructure, technology organization staffing and development, and the
engagement of external knowledge networks to complement internal capabilities.
The recruitment of professional staff and leadership is ongoing and the
programmed and staff managing processes have been defined and are being
instituted. Some key highlights are outlined to illustrate the progress being
made.
STRATEGIC ACQUISITION:
Acquisition of Terrace Bay,
a Canadian Pulp Mill In July 2012, in line with your Company’s strategy to
secure key inputs, the assets of Terrace Bay, a closed pulp mill in Ontario,
Canada, was acquired by AV Terrace Bay, Canada, the pulp JV, with Grasim
holding a 40% stake and the remaining 60% held by Thai Rayon Public Company
Ltd., Thailand. The operations at this paper grade pulp mill were restarted in
October 2012, as planned. This acquisition will help in meeting the increasing
pulp requirement for your Company’s VSF business after the mill is converted
into dissolving grade pulp mill.
GROWTH OF THE
EXISTING BUSINESSES Expansion of VSF/Chemical Capacities:
At Harihar
(Karnataka), the 36,500 TPA VSF brownfield expansion was commissioned
phase-wise. In Phase I, in September 2012, the plant’s capacity was expanded by
18,250 TPA. In Phase II, in May 2013, the balance capacity of 18,250 TPA became
operational with the commissioning of the Power Plant.
The 120,000 TPA
Greenfield VSF project at Vilayat (Gujarat) is nearing completion and is
expected to go on stream in the 2nd Quarter of the FY2013-14. To
improve the technology and efficiency of your Company’s VSF plant at Nagda, a
major revamp in phases, spread over the next three Years is underway.
The Chemical
plant (Caustic Soda - 182,500 TPA), also at Vilayat, commenced commercial
production in May 2013. There will be a gradual ramp up in capacity in the
first half of the FY 2013-14.
Work on the
Epoxy project (51,500 TPA) at Vilayat is progressing, and the same is likely to
be commissioned by September 2013.
Expansion of Cement Capacity:
The Company’s
subsidiary, Ultra Tech Cement Limited (Ultra Tech), has initiated several
projects across its locations. Of these, the following projects have been
commissioned.
-
Clinkerisation plant of Rs.3.300Millions TPA at Rawan, Chhattisgarh
- Grinding unit
of Rs.1.550Millions TPA at Hotgi, Maharashtra
- Increase in
cement grinding capacity by Rs.0.600Millions TPA at Gujarat plant
- Bulk terminal
at Cochin, Kerala
- Wall-care putty plant at
Katni, Madhya Pradesh.
With the
commissioning of these projects, the cement capacity of Ultra Tech has
increased from Rs.51.750Millions TPA to Rs.53.900Millions TPA. The
clinkerisation plant of Rs.3.300Millions TPA in Karnataka is expected to go on
stream in Q1 of the FY 2013-14.
Ultra Tech is
committed to growth and towards this end, its Board has approved the expansion
of capacity at its Aditya Cement Works in Rajasthan by Rs.2.9000Millions TPA,
including the setting up of two grinding units. This expansion envisages a
capital outlay of around Rs.20000.000Millions to be funded through a mix of
internal accruals and borrowings. The additional facility is expected to be
commissioned by March 2015.
With the
commissioning of these and other projects in the pipeline, Ultra Techs cement
capacity will stand augmented to Rs.64.450Millions TPA by March 2015.
INDEX OF CHARGES:-
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10326687 |
07/01/2012 |
9,000,000,000.00 |
STATE BANK OF INDIA |
CORPORATE ACCOUNT GROUP BRANCH, NEVILLE HOUSE, J N HEREDIA MARG,
MUMBAI, MAHARASHTRA - 400001, INDI A |
B29015542 |
|
2 |
10108132 |
18/05/2010 * |
3,000,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005,
INDIA |
A8680537 |
|
3 |
80024425 |
15/12/2005 |
1,386,000,000.00 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA LTD. |
IDBI TOWER, WTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005,
INDIA |
- |
|
4 |
80024325 |
18/05/2010 * |
8,300,000,000.00 |
STATE BANK OF INDIA |
CORPORATE ACCOUNTS GROUP, VOLTAS HOUSE,, 23, JN HEREDIAMARG,, MUMBAI,
MAHARASHTRA - 400001, INDIA |
A8714482 |
.
FIXED ASSETS:-
·
Land
·
Buildings
·
Plant and equipment
·
Factory equipment
·
Furniture and fixture
·
Vehicles
·
Office equipment
·
Railway sidings
·
Brands and trade marks
·
Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.35 |
|
|
1 |
Rs.98.71 |
|
Euro |
1 |
Rs.77.47 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
49 |
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.