MIRA INFORM REPORT
|
Report Date : |
20.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
UPL LIMITED |
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Formerly Known
As : |
UNITED PHOSPHORUS LIMITED |
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Registered Office
: |
3-11, G.I.D.C., Vapi, Valsad – 396195, Gujarat |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
02.01.1985 |
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Com. Reg. No.: |
04-025132 |
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Capital Investment
/ Paid-up Capital : |
Rs.857.200 Millions |
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CIN No.: [Company Identification
No.] |
L24219GJ1985PLC025132 |
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|
Legal Form : |
Public limited liability company. Company’s shares are listed on the
Stock Exchange. |
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Line of Business
: |
Manufacturer and Exporter of Agro Chemicals, Fungicide, Herbicide,
Plant Growth and Regulators. |
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No. of Employees
: |
2560 employees in India and 3595 employees globally. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 130000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a well – established company having fine track record. The rating takes into consideration dominant market position of UPL in
the global agro chemicals market supported by diversified product portfolio,
integrated operations across geographies, healthy revenue growth, decent
profitability margins and comfortable liquidity position. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com while quoting report
number, name and date.
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 |
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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 |
CARE |
|
Rating |
Long term bank facilities – AA+ |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
October 13, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities – A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
October 13, 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 (91-022-26468000)
LOCATIONS
|
Registered Office / Factory 1: |
3-11, G.I.D.C, Vapi, District Valsad - 396195, Gujarat, India |
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Tel. No.: |
91-260-2400717/ 2401945/ 2401960/ 2401718/ 2401719 |
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Fax No.: |
91-260-2401823 |
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E-Mail : |
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Website : |
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Location: |
Owned |
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Corporate / Administrative Office : |
Uniphos House, Madhu Park, 11th Road, Chitrakar Dhurandar Marg, Khar (West), Mumbai - 400052, Maharashtra, India |
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Tel. No.: |
91-22-26468000 |
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Fax No.: |
91-22-26041010 |
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E-Mail : |
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Factory 2 : |
Green Park Area, Block No 103/B, A/D, Gandhi Nagar - 180004, Jammu, India |
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Tel No.: |
91-191-2430671 |
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Factory 3 : |
CHEMO ELECTRONIC
LAB. Nahuli – Vapi City, Valsad District - 396195, Gujarat, India |
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Tel No.: |
91-260-2730156/ 2730158/ 2730159 |
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91-260-2730160 |
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Factory 4 : |
Plot No. 750, G.I.D.C., Jhagadia, District Bharuch, Gujarat, India |
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Factory 5 : |
Serial No.225, Village Gopipura, Via Baska Taluka, Halol City, District Panchmal - 389350, Gujarat, India |
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Tel No.: |
91-2676-247068/ 247052 |
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Fax No.: |
91-2676-247068 |
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Factory 6 : |
ANKLESWAR - UNIT I
:-
Tel: 91-2646-251223/ 250336/ 251249/ 250279/ 250379 Fax: 91-2646-250297 ANKLESHWAR - UNIT
II : -
Tel: 91-2646-250578/ 250493/ 250563 Fax: 91-2646-251434 ANKLESHWAR - UNIT
III : -
Fax: 91-2646–250615 |
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Factory 7 : |
Agrochemical Plant, Durgachak Haldia, Midnapore District – 721602, West Bengal, India |
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Tel No.: |
91-33-22486908 |
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Sales Office : |
V-Fortune Building, 3rd Floor, S V Road, Next to Surya Children's Hospital, Near Vijay Sales, Opposite Petrol Pump, Santacruz (West), Mumbai - 400052, Maharashtra, India |
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Tel. No.: |
91-22-27847769/ 27811554 |
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Fax No.: |
91-79-27842399 |
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Email : |
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Godown : |
Survey No 154/B/1, Shed 2, S V Cooperative Industrial Estate, I D A Bollaram,
Jinnaram, Medak - 502313, Andhra Pradesh, India |
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Overseas Offices : |
Located At : ·
Zambia ·
China ·
Australia ·
Japan ·
Russia ·
Korea ·
Vietnam ·
New Zealand |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. R. D. Shroff |
|
Designation : |
Chairman & Managing Director |
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Name : |
Mr. J. R. Shroff |
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Designation : |
Global CEO of the Group |
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Name : |
Mr. A. C. Ashar |
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Designation : |
Director – Finance |
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Name : |
Mrs. S. R. Shroff |
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Designation : |
Vice Chairman |
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Name : |
Mr. K. Banerjee |
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Designation : |
Whole - Time Director |
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Name : |
Mr. Pradeep Goyal |
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Designation : |
Director |
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Name : |
Dr. P. V. Krishna |
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Designation : |
Director |
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Name : |
Dr. Reena Ramachandran |
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Designation : |
Director |
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Name : |
Mr. Pradip Madhavji |
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Designation : |
Director |
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Name : |
Mr. Vinod Sethi |
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Designation : |
Director |
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Name : |
Mr. Suresh P. Prabhu |
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Designation : |
Director |
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Name : |
Mr. Suresh P. Prabhu |
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Designation : |
Director |
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Name : |
Mr. V. R. Shroff |
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Designation : |
Executive Director |
KEY EXECUTIVES
|
Name : |
Mr. M. B. Trivedi |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Category of Shareholder |
Total No. of
Shares |
Total
Shareholding as a % of Total No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
||
|
|
|
|
|
|
3758181 |
0.88 |
|
|
123970160 |
28.94 |
|
|
127728341 |
29.82 |
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|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
127728341 |
29.82 |
|
(B) Public Shareholding |
||
|
|
|
|
|
|
33876694 |
7.91 |
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|
356194 |
0.08 |
|
|
2042321 |
0.48 |
|
|
199456885 |
46.57 |
|
|
235732094 |
55.04 |
|
|
|
|
|
|
26662799 |
6.23 |
|
|
|
|
|
|
26674743 |
6.23 |
|
|
5766170 |
1.35 |
|
|
5733007 |
1.34 |
|
|
6740 |
0.00 |
|
|
5603399 |
1.31 |
|
|
122868 |
0.03 |
|
|
64836719 |
15.14 |
|
Total Public shareholding (B) |
300568813 |
70.18 |
|
Total (A)+(B) |
428297154 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
||
|
|
0 |
0.00 |
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|
307120 |
0.00 |
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|
307120 |
0.00 |
|
Total (A)+(B)+(C) |
428604274 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Agro Chemicals, Fungicide, Herbicide,
Plant Growth and Regulators. |
GENERAL INFORMATION
|
No. of Employees : |
2560 employees in India and 3595 employees globally. |
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Bankers : |
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Facilities : |
Note : a. Outstanding loans carry an interest rate of Base Rate/Libor plus margin ranging from 70 bps to 400 bps b. Outstanding loan is secured by hypothecation of inventories, bills receivables, book debts and all movables assets of the Company both present and future, wherever situated. |
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Banking
Relations : |
--- |
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Auditors : |
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|
Name : |
S.V. Ghatalia and Associates Chartered Accountant |
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Associates : |
· Sanguine Holdings Private Limited · Advanta Limited (formerly known as Advanta India Limited) · Tatva Global Enviroment Limited · Advanta Semilas SAIC, Argentina · Tatva Global Environment (Deonar) Limited · Chemisynth (Vapi) Limited · Ultima Search · Kerala Enviro Infrastructure Limited · Uniphos International Limited · Pacific Seeds Pty Limited, Australia · Uniphos Enterprises Limited · Unicorn Seeds Private Limited · UPL Environmental Engineers Limited · Sipcam UPL Brasil S.A. · Vikram Farm |
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Joint Venture : |
· Accolade Properties Private Limited (Upto September 27, 2012) · United Phosphorus (Bangladesh) Limited · Sadafuli Finvest Private Limited (Upto September 27, 2012) |
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Subsidiaries : |
· UPL Limited, Mauritius (formerly known as Uniphos Limited) · UPL Investment Private Limited · UPL Colombia S.A.S Agrindustrial, S.A., Spain · UPL Limited Korea (formerly known as United Phosphorus (Korea) Limited) · Agrodan, ApS United Phosphorus (Shanghai) Company Limited · Anning Decco Fine Chemical Co. Limited, China · United Phosphorus (Taiwan) Limited Bio-win Corporation Limited, Mauritius · United Phosphorus Cayman Limited Canegrass LLC, USA · United Phosphorus de Mexico, S.A. de C.V. Cerexagri B.V. - Netherlands · United Phosphorus do Brasil Ltda UPL Costa Rica S.A (formerly known as Cerexagri Costa Rica, S.A.) · United Phosphorus GMBH, Germany Cerexagri Delaware, Inc.,USA · United Phosphorus Holdings B.V., Netherlands Cerexagri Italia S.R.L. · United Phosphorus Holdings Cooperatief U.A. Cerexagri S.A.S., France · United Phosphorus Inc., U.S.A. Cerexagri Ziraat Ve Kimya Sanayi Ve Ticaret Limited Sirketi, Turkey · UPL Australia Limited (formerly known as United Phosphorus Limited) · Cerexagri, Inc. (PA) · United Phosphorus Limited, Belgium S P R L Citrashine (Pty) Limited, South Africa · United Phosphorus Limited, Gibraltar Compania Espanola Industrial Quimica de Productos Agricolas Y Domesticos, S.A.U.,Spain · UPL Limited, Hongkong (formerly known as United Phosphorus Limited) · Decco Iberica Postcosecha, S.A.U., Spain (formerly Cerexagri Iberica) · United Phosphorus Limited, Japan · Decco Italia SRL,Italy · UPL New Zealand Limited (formerly known as United Phosphorus Limited) · Decco US Post-Harvest Inc (US) · United Phosphorus Limited, U.K. · Decco Worldwide Post-Harvest Holdings B.V. · United Phosphorus Polska Sp.z o.o - Poland · Decco Worldwide Post-Harvest Holdings Cooperatief U.A. · United Phosphorus Switzerland Limited · Desarrollo Quimico Industrial, S.A., Spain (DEQUISA S.A.) · United Phosphorus Vietnam Co., Limited · Friedshelf 1114 (Pty) Limited · Global Chem Trade Corp., Panama (Dissolved on January 1, 2013) · Safepack Products Limited, Israel · Icona S A – Argentina · Samrod Chemicals (Pty) Limited · Icona Sanluis S A – Argentina · Shroffs United Chemicals Limited · Jiangsu Kaznam Chemical Group.,Panama (Dissolved on March 18, 2013) · SWAL Corporation Limited · JSC United Phosphorus Limited, · Russia Transterra Invest, S. L. U., Spain · Optima Farm Solutions Limited (acquired during the year) · RiceCo International Inc., Bahamas · Phosfonia, S.L.,Spain UPL Limited, Gibraltar (formerly known as Uniphos Limited) · PT Catur Agrodaya Mandiri, Indonesia · Decco Jefkins Mexico Sapi, Mexico · PT. United Phosphorus Indonesia · UPL Aviation Limited · United Phosphorus Holding, Brasil B.V. · United Phosphorus Industria e Comercio de Produtos Quimicos Ltda. Brazil · RiceCo LLC · Uniphos Indύstria e Comercio de Produtos Quimicos Ltda. Brazil · Upl do brasil Industria e Comercio de Insumos Agropecuarios S.A. · Neo-Fog S.A. (acquired during the year) · DVA Technology Argentina S.A. · JPB Courtage S.A.R.L. (acquired during the year) · United Phosphorous Bolivia S.R.L · AgriChem B.V · Decco Chile SpA · AgriChem Heivelia GmbH. · UPL Agromed Tarim Ilaclari ve Tohumculuk Sanayi ve ticaret A.S. · AgriChem Polska Sp Z.O.O. · UPI Finance LLC · Agricultural Chemicals N.V. · United Phosphorous Corp. Philippines · Aspen Holdings SAS · United Phosphorous Global LLP · Aspen SAS · United Phosphorous (India) LLP · SD Agchem (Netherlands) B.V. · Pro Long Limited · Blue Star BV |
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|
|
|
Enterprises over which
key management personnel and their relatives have significant influence: |
· Bharuch Enviro Infrastructure Limited · Bloom Packaging Private Limited · Bloom Seal Containers Private Limited · Daman Ganga Pulp and Papers Private Limited · Demuric Holdings Private Limited · Enviro Technology Limited · Uniphos Envirotronic Private Limited · Jai Research Foundation · Jai Trust · Nerka Chemicals Private Limited · Pot Plants |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1275000000 |
Equity Shares |
Rs.2/-each |
Rs.2550.000 Millions |
|
|
|
|
|
|
14000000 |
Preference Shares |
Rs.100/-each |
Rs.1400.000 Millions |
|
|
|
|
|
|
5000000 |
Preference Shares |
Rs.10/-each |
Rs.50.000 Millions |
|
|
Total |
|
Rs.4000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
428604274 |
Equity Shares |
Rs.2/-each |
Rs.857.208
Millions |
Reconciliation of the
shares outstanding at the beginning and at the end of the reporting period
|
Particulars |
No. of Shares in Millions |
Amount in Millions |
|
At the beginning of the year |
442.600 |
885.200 |
|
Buy-back during the year |
(14.000) |
(28.000) |
|
Outstanding at the end of the year |
428.600 |
857.200 |
Terms/ rights
attached to equity shares:
The Company has one class of equity shares having par value of Rs. 2 per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive the remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
During the year ended 31st March, 2014, the amount of per share dividend recognised as distributions to equity sharehorders was Rs. 4 (31st March, 2013: Rs. 2.50).
Aggregate number of
bonus shares issued, shares issued for consideration other than cash and shares
bought back during the period of five years immediately preceding the reporting
date:
|
Particulars |
No. of Shares in Millions |
Amount in Millions |
|
Equity shares allotted as fully paid bonus shares by capitalization of securities premium |
-- |
219.800 |
|
Equity shares bought back by the Company. |
33.200 |
19.200 |
Details of
shareholders holding more than 5% shares in the Company
|
Particulars |
No. of Shares in
Millions |
% holding |
|
Nerka Chemicals Private Limited |
98.600 |
23.01 |
|
Uniphos Enterprises Limited |
25.300 |
5.91 |
As per of the Company, including its register of shareholders/ members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownerships of shares.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
857.200 |
885.200 |
923.600 |
|
(b) Reserves &
Surplus |
32219.200 |
32691.700 |
34136.600 |
|
(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) |
33076.400 |
33576.900 |
35060.200 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
10600.000 |
14000.000 |
11000.000 |
|
(b) Deferred tax
liabilities (Net) |
1173.400 |
909.000 |
827.800 |
|
(c) Other long term
liabilities |
3067.000 |
2098.100 |
1360.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
14840.400 |
17007.100 |
13187.800 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1101.600 |
6381.100 |
3515.800 |
|
(b) Trade payables |
13711.500 |
9406.600 |
6186.600 |
|
(c) Other current
liabilities |
5734.600 |
2200.500 |
3139.200 |
|
(d) Short-term provisions |
2360.700 |
1586.800 |
1551.600 |
|
Total Current Liabilities
(4) |
22908.400 |
19575.000 |
14393.200 |
|
|
|
|
|
|
TOTAL |
70825.200 |
70159.000 |
62641.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
10829.500 |
8338.800 |
8103.700 |
|
(ii) Intangible Assets |
4893.200 |
5166.200 |
5650.500 |
|
(iii) Capital
work-in-progress |
991.300 |
2361.500 |
1136.400 |
|
(iv) Intangible assets
under development |
188.400 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
6711.500 |
6710.600 |
6571.200 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
13303.000 |
11153.200 |
10473.700 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
36916.900 |
33730.300 |
31935.500 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
2329.900 |
1250.000 |
|
(b) Inventories |
8722.000 |
6205.400 |
5500.300 |
|
(c) Trade receivables |
14117.900 |
18045.600 |
13899.900 |
|
(d) Cash and cash
equivalents |
1854.000 |
1882.200 |
975.300 |
|
(e) Short-term loans and
advances |
8142.900 |
7061.400 |
8186.800 |
|
(f) Other current assets |
1071.500 |
904.200 |
893.400 |
|
Total Current Assets |
33908.300 |
36428.700 |
30705.700 |
|
|
|
|
|
|
TOTAL |
70825.200 |
70159.000 |
62641.200 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
49682.700 |
39394.400 |
33156.400 |
|
|
Other Income |
3178.400 |
1296.500 |
1438.500 |
|
|
TOTAL |
52861.100 |
40690.900 |
34594.900 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
20145.800 |
17133.400 |
15578.900 |
|
|
Purchases of
Stock-in-Trade |
8021.400 |
4722.600 |
3423.100 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(1539.900) |
(382.000) |
(1168.500) |
|
|
Employees benefits
expense |
2578.700 |
2374.600 |
1846.500 |
|
|
Other expenses |
13807.700 |
11279.300 |
8766.700 |
|
|
TOTAL |
43013.700 |
35127.900 |
28446.700 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
9847.400 |
5563.000 |
6148.200 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
2432.900 |
1013.200 |
1643.700 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
7414.500 |
4549.800 |
4504.500 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1690.900 |
1577.600 |
1434.900 |
|
|
|
|
|
|
|
Less/ Add |
EXCEPTIONAL ITEMS |
198.600 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
5525.000 |
2972.200 |
3069.600 |
|
|
|
|
|
|
|
Less |
TAX |
1367.700 |
890.900 |
799.200 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
4157.300 |
2081.300 |
2270.400 |
|
EARNINGS IN FOREIGN
CURRENCY |
||||
|
Exports of goods calculated on F.O.B. basis |
27833.700 |
21884.300 |
16747.900 |
|
|
Interest |
429.000 |
425.300 |
466.500 |
|
|
Dividend |
1125.000 |
54.400 |
197.000 |
|
|
Others |
24.400 |
7.000 |
5.200 |
|
|
TOTAL EARNINGS |
29412.100 |
22371.000 |
17416.600 |
|
|
IMPORTS |
||||
|
Raw Materials |
11196.200 |
9093.500 |
7124.100 |
|
|
Traded Goods |
5149.900 |
2241.000 |
697.100 |
|
|
Components and spare parts |
5.800 |
9.200 |
8.800 |
|
|
Capital goods |
176.500 |
411.400 |
128.900 |
|
|
TOTAL IMPORTS |
16528.400 |
11755.100 |
7958.900 |
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
9.45 |
4.60 |
4.92 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
7.86 |
5.11 |
6.56 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.12 |
7.54 |
9.26 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.78 |
4.87 |
5.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
0.17 |
0.09 |
0.09 |
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
0.35 |
0.61 |
0.41 |
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
1.48 |
1.86 |
2.13 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
923.600 |
885.200 |
857.200 |
|
Reserves & Surplus |
34136.600 |
32691.700 |
32219.200 |
|
Net worth |
35060.200 |
33576.900 |
33076.400 |
|
|
|
|
|
|
long-term borrowings |
11000.000 |
14000.000 |
10600.000 |
|
Short term borrowings |
3515.800 |
6381.100 |
1101.600 |
|
Total borrowings |
14515.800 |
20381.100 |
11701.600 |
|
Debt/Equity ratio |
0.414 |
0.607 |
0.354 |
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 |
33156.400 |
39394.400 |
49682.700 |
|
|
|
18.814 |
26.116 |
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 |
33156.400 |
39394.400 |
49682.700 |
|
Profit |
2270.400 |
2081.300 |
4157.300 |
|
|
6.85% |
5.28% |
8.37% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
No |
|
8] |
No. of employees |
Yes |
|
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] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS :
|
HIGH COURT OF GUJARAT |
|
TAX APPEAL No.
1017 of 2014 |
|
Status : PENDING |
( Converted from : O/ST/1788/2014 ) |
CCIN No : 001092201401017 |
|
|
|||
|
|||
|
|||
|
S.NO. |
Name of the Petitioner |
Advocate On Record |
|
1 |
COMMISSIONER OF CENTRAL |
MR RJ OZA for: Appellant(s) |
|
S.NO. |
Name of the Respondant |
Advocate On Record |
|
1 |
UNITED PHOSPHORUS LIMITED -NOW UPL LIMITED
- |
|
Presented On |
: 05/07/2014 |
Registered On |
: 08/09/2014 |
|
Bench Category |
: - |
District |
: SURAT |
|
Case Originated From |
: THROUGH ADVOCATE |
Listed |
: 25 times |
|
StageName |
: ADJOURNED MATTERS |
||
|
Office Objection |
|
|
Filing Stage |
·
WHETHER PROPER &
FULL COURT FEE IS PAID ? ·
WHETHER CERTIFIED COPIES
FILED ? APPELLATE JUDGEMENT |
|
Classification |
·
DB - OJ - TAX APPEAL -
CENTRAL EXCISE ACT, 1944 - UNDER SECTION 35G |
|
Act |
·
CENTRAL EXCISE RULES,
1944 |
|
Office Details |
|
S. No. |
Filing Date |
Document Name |
Advocate Name |
Court Fee on Document |
Document Details |
|
1 |
05/07/2014 |
APPEARANCE NOTE |
MR RJ OZA ADVOCATE |
0 |
MR RJ OZA(520) for P:1 |
|
2 |
05/07/2014 |
MEMO OF APPEAL/PETITION/SUIT |
MR RJ OZA ADVOCATE |
50 |
MR RJ OZA(520), for P:1 |
|
3 |
07/10/2014 |
ADDITIONAL FEE ON CERTIFIEDCOPY |
MR RJ OZA ADVOCATE |
2 |
MR RJ OZA(520) for P:1 |
|
Court Proceedings |
|||||
|
S. No. |
Notified Date |
CourtCode |
Board Sr. No. |
Stage |
Action |
Coram |
|
1 |
11/09/2014 |
10 |
- |
FOR OFFICE OBJECTION |
·
HONOURABLE MS.JUSTICE
HARSHA DEVANI ·
HONOURABLE MS JUSTICE
SONIA GOKANI |
|
|
2 |
17/09/2014 |
6 |
42 |
FOR OFFICE OBJECTION |
NEXT DATE |
·
HONOURABLE MS.JUSTICE
HARSHA DEVANI ·
HONOURABLE MS JUSTICE
SONIA GOKANI |
|
3 |
09/10/2014 |
10 |
- |
undefined |
·
HONOURABLE MS JUSTICE
SONIA GOKANI |
|
|
4 |
13/10/2014 |
6 |
48 |
ADMISSION (FRESH MATTERS) |
NEXT DATE |
·
HONOURABLE MR.JUSTICE
AKIL KURESHI ·
HONOURABLE MR.JUSTICE
VIPUL M PANCHOLI |
|
5 |
10/11/2014 |
6 |
- |
ADJOURNED MATTERS |
·
HONOURABLE MR.JUSTICE
AKIL KURESHI ·
HONOURABLE MR.JUSTICE
VIPUL M PANCHOLI |
|
|
Available Orders |
||||||
|
S. No. |
Case Details |
Judge Name |
Order Date |
CAV |
Judgement |
Questions |
Transferred |
|
1 |
TAX APPEAL/1004/2014 |
·
HONOURABLE MS.JUSTICE HARSHA
DEVANI ·
HONOURABLE MS JUSTICE
SONIA GOKANI |
17/09/2014 |
N |
ORDER |
- |
Y |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10392596 |
27/08/2012 |
3,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17, R.Kamani Marg,, Ballard Estate,, MUMBAI, Maharashtra - 400001, INDIA |
B56987159 |
|
2 |
10314745 |
07/09/2011 |
2,500,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17, R.Kamani Marg,, Ballard Estate,, MUMBAI, Maharashtra - 400001, INDIA |
B24019390 |
|
3 |
10261587 |
24/12/2010 |
3,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17, R.Kamani Marg,, Ballard Estate,, MUMBAI, Maharashtra - 400001, INDIA |
B03607926 |
|
4 |
10227852 |
21/06/2010 |
3,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17, R.Kamani Marg,, Ballard Estate,, MUMBAI, Maharashtra - 400001, INDIA |
A88992797 |
|
5 |
10220148 |
09/04/2010 |
2,500,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17, R.Kamani Marg,, Ballard Estate,, MUMBAI, Maharashtra - 400001, INDIA |
A85891174 |
|
6 |
10186793 |
09/11/2009 |
1,350,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17, R.Kamani Marg,, Ballard Estate,, MUMBAI, Maharashtra - 400001, INDIA |
A73556698 |
|
7 |
10142689 |
31/12/2008 |
3,700,000,000.00 |
Dena Bank |
Corporate Business Branch, C-10, G-Block, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra - 400051, INDIA |
A57003386 |
|
8 |
90099990 |
09/09/2010 * |
16,000,000,000.00 |
Dena Bank |
Corporate Business Branch, Dena Corporate Centre, C-10, `G' Block, Bandra-Kurla Complex, Bandra East, Mumbai, Maharashtra -400051, INDIA |
A95586277 |
|
9 |
80002425 |
10/01/2005 |
497,500,000.00 |
RABO INDIA FINANCE PVT LTD |
FORBES BLDG, C R MARG FORT, MUMBAI, Maharashtra -400001, INDIA |
- |
|
10 |
90099860 |
19/07/2004 |
2,500,000.00 |
UTI BANK LTD |
UNIVERSAL INSURANCE BUILDING, SIR PM ROAD ;FORT, BOMBAY, Maharashtra - 400001, INDIA |
- |
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Unsecured redeemable Non-convertible Denbentures |
11500.000 |
14000.000 |
|
Less : Non convertible Debentures bought back by the company pending
extinguishment |
(900.000) |
0.000 |
|
Note
: Unsecured Redeemable Non-Convertible
Debentures
|
||
|
SHORT TERM
BORROWINGS |
|
|
|
Cash credit, packing credit and working capital demand
loan accounts from banks |
979.400 |
1912.800 |
|
Buyers credit from banks |
|
3884.100 |
|
Loans from others |
50.000 |
50.000 |
|
Total |
1101.600 |
6381.100 |
|
Note:
|
||
CHANGE OF NAME OF THE COMPANY
During the year the name of the Company has
been changed from ‘United Phosphorus
Limited’ to ‘UPL Limited’ vide Special Resolution passed at the Extra-ordinary
General Meeting of the members of the Company held on 30th September, 2013 and
consequently Fresh Certificate of Incorporation dated 11th October, 2013 has
been issued by the Registrar of Companies, Gujarat.
OPERATIONAL PERFORMANCE
During the year, there was significant
improvement in business conditions due to bountiful and widespread monsoon. In
the initial part of the year the crop prices remained stronger. However due to
good harvests, the prices softened subsequently. There was a very strong volume
growth in all the regions. In India, higher yields were expected from Rice,
Cotton, Wheat, Pulses, Potato etc. The Company launched two new products,
namely Ulala and Atabron which performed very well. The Company continues to focus on some of the
power brands such as Lancer Gold, Starthene Power, Saathi, Saaf and Phoskill.
Due to favourable monsoon, the Company was in a position to offset part of the
increase in the costs of inputs to the customers.
On the global front, the Latin American
market, including Brazil, improved significantly. Brazil continued to be on strong
growth curve with additional cultivation area for Soyabean. In other countries
also, Soyabean and cotton cultivation areas increased due to higher commodity
prices. In Europe, there were prolonged winters and late spring, adversely
affecting sale of herbicides. The sale
of fungicides increased. Some CIS countries like Ukraine is facing political
crisis resulting into disruption of business in these areas. Australia
witnessed third continuous year of drought. However, the conditions seem to be
improving now. The Company is also making inroads into African markets. Once it
gets more registrations, the Company will get higher access to these markets.
In North America, the market was significantly impacted due to late spring and
drought in western region. The herbicide sales have improved, especially, for
rice crops. The Company has introduced Metribuzin, a herbicide with great
potential in US market.
US Dollar appreciated against various
currencies. Even Euro and pound sterling
appreciated. Currencies of some of the countries like Brazil depreciated.
It is indeed a significant achievement for
the Company as it crossed magical figure of 10,000.000 Million of global sales,
during the year. The management wants to express and share their happiness with
all the stake holders of the Company. It is also significant to note that the
sales are balanced over different regions of the world equitably. This ensures
that there is no over dependence on any particular region for sales.
The year has ended on a highly satisfactory
note. Some of the highlights of global performance are as under:
a) Revenue from operations have increased
by 17% to 109020.000 Million.
b) EBIDTA has gone up to 22%
c) Profit before taxes has gone up by 23%
to 11570.000 Million
d) Profit for the year has gone up by 23%
to 9500.000 Million
FUTURE OUTLOOK
In the coming
years, the Company expects to improve its performance in various geographies of
the world. These will include markets of USA, Europe, Latin America, Asian
countries etc. The Company is also focusing to make inroads into vast African
markets. The countries which have tremendous potential for Company’s products
are India and Brazil. The Company expects to increase its sales manifold in
these countries. With introduction of many new products in the market every
year, the Company expects to improve its performance in future as well.
Overall, the Company expects a very bright future.
OVERVIEW AND OUTLOOK
The outlook for 2014 is challenging, with crop prices and futures prices weakening following good 2013 harvests, particularly for maize and soybeans. Cotton and rice prices declined, reportedly due to a de-stocking in China and Thailand. Although weaker than in 2012, wheat and rapeseed prices were less depressed than other major crops, giving rise to some optimism for the European market.
It is anticipated that maize acreages will rotate back into soybeans in the Americas in 2013-14, which could put increasing price pressure back into oilseeds markets during the year. On a global basis, demand for grains remained high, particularly in developing countries and in China where the 2013 harvest was depressed by flooding in the south. However, maize usage for ethanol is now essentially at maturity, hence that sector is less likely to absorb overproduction in the future.
STATEMENT OF
STANDALONE UNAUDITED FINANCIAL RESULTS
FOR THE QUARTER ENDED 30TH JUNE 2014
(Rs. in millions)
|
Particulars |
Quarter Ended |
|
31.06.2014 |
|
|
Unaudited |
|
|
|
|
|
Income from
Operations |
|
|
Net
Sales / Income from Operations |
13604.400 |
|
Other Operating Income |
311.000 |
|
Total
Income from Operations (net) |
13915.400 |
|
Expenditure |
|
|
a)
Cost of materials consumed |
5526.300 |
|
b)
Purchase of stock-in-trade |
1960.800 |
|
c) Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
(338.700) |
|
d)
Employee benefits expense |
751.200 |
|
e)
Depreciation and amortisation expense |
410.500 |
|
f)
Other expenses |
4189.800 |
|
Total Expenses |
12499.900 |
|
Profit / (Loss) from
Operations before Other Income and Finance Costs and Exceptional Items |
1415.500 |
|
Other Income |
168.200 |
|
Profit
before finance costs |
1583.700 |
|
Finance Costs |
8.800 |
|
Profit
/ (Loss) from ordinary activities before Exceptional Items |
1574.900 |
|
Exceptional Items |
0.000 |
|
Profit
Before Tax |
1574.900 |
|
Tax
Expenses (Includes Deferred Tax) |
506.800 |
|
Net
Profit after Tax (7-8) |
1068.100 |
|
Paid
up Equity Share Capital [Face Value - Rs.2 per share] |
857.200 |
|
Reserves
excluding Revaluation Reserves |
-- |
|
Basic
and diluted EPS for the period and for the previous year |
-- |
|
-Basic
EPS (Rs.2.00 each) |
2.49 |
|
-Diluted
EPS (Rs.2.00 each) |
2.49 |
|
Debt
Equity Ratio |
0.45 |
|
Debt
Service Coverage Ratio |
5.56 |
|
Interest
Service Coverage Ratio |
4.72 |
|
|
|
|
PARTICULARS OF SHAREHOLDING |
|
|
Public
Shareholding |
|
|
- Number of Shares |
300875933 |
|
- Percentage of Shareholding |
70.20% |
|
Promoters and
Promoter Group Shareholding |
|
|
a)
Pledged/Encumbered |
|
|
- Number of Shares |
14565000 |
|
- Percentage of Shares (as a % of the Total Shareholding of promoter
and promoter group) |
11.40% |
|
- Percentage of Shares (as a % of the Total Share Capital of the
Company) |
3.40% |
|
b) Non
Encumbered |
|
|
- Number of Shares |
113163341 |
|
- Percentage of Shares (as a % of the Total Shareholding of Promoter
and Promoter Group) |
88.60% |
|
- Percentage of Shares (as a % of the Total Share Capital of the
Company) |
26.40% |
|
PARTICULARS |
For the quarter ended 30th June 2014 |
|
B INVESTORS COMPLAINTS |
|
|
(as informed by sharepro service, Registrar and
Transfer Agent of the Company) |
|
|
Pending at the beginning of the quarter |
Nil |
|
Received during the quarter |
39 |
|
Disposed during the quarter |
39 |
|
Remaining unresolved at the end of the quarter |
Nil |
Note:
1. The above standalone
Unaudited Financial Results were reviewed by the Audit Committee and thereafter approved at the Meeting of the
Board of Directors held on July 28, 2014.
2. During the Quarter, the Company has revised
the depreciation rate on certain fixed assets as per the useful life specified
in the Companies Act, 2013 or re-assessed by the Company. Based on current
estimates, carrying amount of Rs. 270.400 Million in respect of assets whose
useful life is already exhausted as on April 01, 2014 net of deferred tax of
Rs. 91.900 Million thereon have been adjusted to Retained Earnings. Had there
not been any change in the useful life of assets, depreciation for the quarter
would have been lower by Rs. 14.900 Million
3. The figures for the quarter ended March 31,
2014 are the balancing figures between the Audited figures in respect of the
full financial year 2013-2014 and the year to date figures up to the third
quarter ending December 31, 2013.
4. Other Income includes net exchange gain/
(loss) on account of foreign exchange on exports, imports, export commission
and others. Such gain/ (loss) are Rs. (6.200) Million (included in Other
Expenses), Rs. (80.600) Million, and Rs. 709.500 Million for the quarters
ending June 30, 2014, March 31, 2014 and June 30, 2013 respectively and Rs.
1232.900 Million for the year ended March 31, 2014.
5. During the quarter, Finance Costs includes
settlement gain/ mark to market losses on derivative contracts related to
borrowings and exchange differences arising on foreign currency loans /
advances amounting to a net gain of Rs. 507.700 Million. The amount for the
corresponding quarter of the previous year included a net loss of Rs. 142.600
Million, for the quarter ended March 2014 a net gain of Rs. 290.800 Million and
for the year ended March 31, 2014, a net loss is Rs. 653.600 Million.
6. Ratios have been computed as follows :-
Debt comprises Long-Term borrowings, Short-Term
borrowings and Current maturities of Long Term borrowings
Debts Service Coverage Ratio = Earnings before
Interest, Tax, Depreciation and Amortisation / (Interest on Long Term
borrowings + Principal repayments)
Interest Service Coverage Ratio = Earnings
before Interest and Tax/ Interest and Other Finance Charges on Debt
7. Previous period's/ year's figures have been
regrouped/ rearranged wherever necessary.
SEGMENT WISE REVENUE, RESULTS AND CAPITAL
EMPLOYED
FOR THE QUARTER ENDED 30TH JUNE, 2014
|
Sr. No. |
Particulars |
Quarter Ended |
|
30.06.2014 |
||
|
Unaudited |
||
|
1. |
Segment Revenue |
|
|
|
Income from
Operations |
|
|
|
Agro Activities |
12857.000 |
|
|
Non Agro Activities |
1975.600 |
|
|
d)
Unallocated |
13.100 |
|
|
Total |
14845.700 |
|
|
Less
: Inter segment revenue |
930.300 |
|
|
Net Sales / Income from Operations |
13915.400 |
|
|
|
|
|
2. |
Segment Results
[Profit(+)/Loss(-) before tax and interest from segment] |
|
|
|
Agro
Activities |
1988.200 |
|
|
Non Agro Activities |
185.300 |
|
|
Total |
2173.500 |
|
|
|
|
|
|
Less:(i)
Finance Cost |
8.800 |
|
|
(ii)
unallocable expenditure net of unallocable income |
589.800 |
|
|
(iii)
Exceptional Items |
0.000 |
|
|
Total Profit (+) / Loss (-) Before Taxation |
1574.900 |
|
|
|
|
|
|
Capital Employed (Segment
Assets - Segment Liabilities) |
|
|
|
Agro
Activities |
19292.300 |
|
|
Non Agro Activities |
6442.200 |
|
|
Total Capital Employed in Segments |
25734.500 |
|
|
|
|
|
|
Add:
Unallocable corporate assets less corporate liabilities |
8231.600 |
|
|
|
|
|
|
Total Capital Employed in Company |
33966.100 |
FIXED ASSETS
- Land-
Freehold
- Land-Leasehold
- Building
- Plant and
Machinery
- Laboratory
Equipments
- Office
Equipments
- Furniture,
Fixture and Equipments
- Vehicles
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 records 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.61.62 |
|
|
1 |
Rs.99.12 |
|
Euro |
1 |
Rs.78.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--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 |
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 |
|
66 |
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.