|
Report Date : |
22.10.2014 |
IDENTIFICATION DETAILS
|
Name
: |
ADITYA BIRLA NUVO LIMITED (w.e.f. 27.10.2005) |
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|
Formerly
Known As : |
INDIAN RAYON AND INDUSTRIES LIMITED (w.e.f. 23.01.1987) INDIAN RAYON CORPORATION LIMITED |
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Registered
Office : |
Indian Rayon Compound,
Veraval - 362266, Gujarat |
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Country
: |
India |
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Financials
(as on) : |
31.03.2014 |
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Date
of Incorporation : |
26.09.1956 |
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Com.
Reg. No.: |
04-001107 |
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Capital
Investment / Paid-up Capital : |
Rs.1301.800 Millions |
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CIN
No.: [Company
Identification No.] |
L17199GJ1956PLC001107 |
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TAN
No.: [Tax
Deduction & Collection Account No.] |
BRD100317C |
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PAN
No.: [Permanent
Account No.] |
AAACI1747H |
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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 : |
Subject is engaged in the financial services, telecom, fashion and lifestyle, IT-ITeS, and manufacturing of Agri-business, Rayon Yarn, Insulators, Carbon Black etc. |
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No.
of Employees : |
20250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
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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 |
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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 reflects
company’s diversified business risk profile, marked by its strong market
position and healthy operating efficiencies in its manufacturing, fashion and
lifestyle businesses. Trade relations are
reported as fair. Business is active. Payment 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.
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 |
Short
term debt A1+ |
|
Rating Explanation |
Very
strong degree of safety and lowest credit risk. |
|
Date |
February
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.
LOCATIONS
|
Registered Office : |
Indian
Rayon Compound, Veraval - 362 266, |
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Tel. No.: |
91-2876-245711 / 245735 / 245758 /
248401 |
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Fax No.: |
91-2876-243220 |
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E-Mail : |
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Website : |
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Corporate Office : |
A-4, Aditya Birla Centre, S K Ahire Marg, Worli,
Mumbai – 400 030, |
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Tel. No.: |
91-22-66525585 |
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Fax No.: |
91-22-66525821 / 24995821 |
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Head Office : |
91 Sakhar Bhawan, 9th Floor, 230
Nariman Point, Mumbai – 400 021, |
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Tel. No.: |
91-22-2204 5004 |
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Fax No.: |
91-22-2204 3686 |
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E-Mail : |
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Branch Office : |
Plot No.5B, Regent Gateway, Doddanakundi Village, Bangalore – 560048, Karnataka, India |
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Tel No. |
91-80-67271600 |
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Fax No.: |
91-80-67271616 |
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Factory 1: |
GARMENTS DIVISION: Madura Garments M G House, Plot No. 5B, Doddanekkundi
Industrial Area, 1 Stage, Krishnaraja Puram Hobli, Brookefields,
Bangalore-560048, |
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Tel No. |
91-80-67271600 |
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Fax No.: |
91-80-67272626 |
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E mail: |
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Factory
2: |
RAYON DIVISION Indian Rayon Division Veraval 362 266, Gujarat, |
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Tel No. |
91-2876-245711 / 248401 |
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Fax No.: |
91-2876-243220 |
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E mail: |
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Factory 3: |
CARBON BLACK DIVISIONS: Hi-Tech Carbon Murdhwa Industrial Area, P. O.
Renukoot 231 217, District Sonbhadra, |
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Tel No. |
91-5446-252387 to 391 |
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Fax No.: |
91-5446-252502 / 252858 |
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E mail: |
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Factory
4: |
Argon Gas Plant: Rajashree Gases IGFL Complex, P. O. Jagdishpur
Industrial Area - 227 817, District Sultanpur, |
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Tel No. |
91-5361-270032 to 38 |
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Fax No.: |
91-5361-270595 / 270165 / 270172 |
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E mail: |
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Factory 5: |
HITECH CARBON,
GUMMIDIPOONDI K-16, Phase II, SIPCOT Industrial
Complex, Gummidipoondi - 601 201District Tiruvallur - Tamil |
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Tel No. |
91-4119-223233 to 36 |
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Fax No.: |
91-4119-223129/223116 |
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E mail: |
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Factory 6: |
Textile Plants: Jaya Shree
Textiles P. O. Prabhasnagar - 712 249,
District Hooghly, West |
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Tel No. |
91-33-26721146 / 26001200 |
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Fax No.: |
91-33-26721683 / 26722626 |
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E mail: |
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Factory 7: |
Rajashree Syntex P. O. Tantigaria, District Midnapur
Paschim, PIN: 721 102, (West Bengal), |
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Tel No. |
91-3222-263131 / 275820 / 263964 |
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Fax No.: |
91-3222-275528 |
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E mail: |
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Factory 8: |
Other Division: Aditya Birla Insulator (Domestic Marketing) P. O. Meghasar Taluka Halol, District
Panchmahal, Gujarat - 389 330, |
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Tel No. |
91-2676-221002 |
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Fax No.: |
91-2676-223375 |
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E mail: |
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Factory 9: |
Fertilizer Plant : P.O. Jagdishpur Industrial Area,
District Sultanpur - 227 817, |
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Tel No. |
91-5361-270032-38 |
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Fax No.: |
91-5361-270165 and 270595 |
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E mail: |
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Factory 10 : |
Financial Services Division Appejay, 2nd Floor, |
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Tel No. |
91-22-22880660 |
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Fax No.: |
91-22-22881088 |
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E mail: |
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Factory 11: |
Insulator Plants P.O. Meghasar, Taluka: Halol,
District Panchmahal-389330, |
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Tel No. |
91-2676-221002 |
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Fax No.: |
91-2676-223375 |
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E mail: |
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Factory 12: |
Aditya Birla Insulators,
Rishra P.O. Prabhas Nagarl, Rishra, District
Hoogly-712249, West |
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Tel No. |
91-33-26723535 |
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Fax No.: |
91-33-26722705 |
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E mail: |
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Factory 13 : |
Hi-Tech Carbon,
Patalganga Village: Lohop, Talavali, Patalganga, Taluka:
Khalapur, Dist. Raigad - 410 207, |
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Website : |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Kumar Mangalam Birla |
|
Designation : |
Non-Executive Chairman |
|
Date of Birth/Age : |
14.06.1967 |
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Qualification : |
B.Com, A.C.A, M.B.A (London) |
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Date of Appointment : |
23.09.1992 |
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|
Name : |
Mrs. Rajashree Birla |
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Designation : |
Non-Executive Director |
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|
Name : |
Mr. Lalit Naik |
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Designation : |
Deputy Managing Director |
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Name : |
Mr. Sushil Agarwal |
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Designation : |
Whole-Time Director and Chief Financial Officer |
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Name : |
Dr. Rakesh Jain |
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Designation : |
Managing Director |
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Name : |
Mr. B. L. Shah |
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Designation : |
Non-Executive Director |
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Name : |
Mr. G. P. Gupta |
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Designation : |
Independent Director |
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Date of Birth/Age : |
11.01.1941 |
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Qualification : |
M.Com |
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Date of Appointment : |
27.04.2005 |
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Name : |
Ms. Tarjani Vakil |
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Designation : |
Independent Director |
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Name : |
Mr. P. Murari |
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Designation : |
Independent Director |
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Name : |
Mr. S. C. Bhargava |
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Designation : |
Independent Director |
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Name : |
Mr. B. R. Gupta |
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Designation : |
Independent Director |
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Name : |
Mr. Tapasendra Chattopadhyay |
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Designation : |
Independent Director |
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Date of Birth/Age : |
31.03.1951 |
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Qualification : |
M. Sc (Chemistry) |
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Date of Appointment : |
30.05.2011 |
KEY EXECUTIVES
|
Name : |
Mrs.
Hutokshi Wadia |
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Designation : |
Company Secretary |
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Senior Management Team : |
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|
Name : |
Mr. Lalit
Naik (w.e.f. 1st July, 2014) |
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Designation : |
Managing Director |
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|
Name : |
Dr. Rakesh
Jain (upto 30th June, 2014) |
|
Designation : |
Managing Director |
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|
Name : |
Mr. Lalit
Naik (upto 30th June, 2014) |
|
Designation : |
Deputy Managing Director |
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|
Name : |
Mr. Sushil
Agarwal |
|
Designation : |
Whole-Time Director and Chief Financial Officer |
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Aditya
Birla Financial Services : |
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|
Name : |
Mr. Ajay Srinivasan |
|
Designation : |
Chief Executive Officer |
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|
Name : |
Mr. Pankaj Razdan |
|
Designation : |
Dy. Chief
Executive Officer MD and CEO, Birla Sun Life Insurance Company Limited |
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TELECOM : |
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|
|
|
Name : |
Mr.
Himanshu Kapania |
|
Designation : |
Business
Head |
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MANUFACTURING:
|
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Agri and
Insulators : |
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|
Name : |
Mr. Lalit Naik |
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Designation : |
Business Director |
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|
Name : |
Mr. Raj Narayanan |
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Designation : |
Chief Executive Officer |
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|
Name : |
Dr. Rakesh Jain |
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Designation : |
Business
Director [upto 30th June, 2014] |
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Rayon : |
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|
Name : |
Mr. Lalit Naik |
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Designation : |
Business Director |
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|
Name : |
Dr. Bir Kapoor |
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Designation : |
President |
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FASHION AND
LIFESTYLE : |
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|
Name : |
Mr. Pranab Barua |
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Designation : |
Business Head (Branded Apparels) |
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|
Name : |
Mr. Thomas Varghese |
|
Designation : |
Business Head (Textiles) |
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|
Name : |
Mr. Ashish Dikshit |
|
Designation : |
Chief Executive Officer (Madura
Fashion and Lifestyle) |
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|
Name : |
Mr. Shital Mehta |
|
Designation : |
Chief Executive Officer (Pantaloons
Fashion) |
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|
|
|
Name : |
Mr. S. Krishnamoorthy |
|
Designation : |
President -
Jaya Shree Textiles |
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|
IT-ITES (DIVESTED W.E.F.
9TH MAY, 2014) : |
|
|
|
|
|
Name : |
Dr. Rakesh Jain |
|
Designation : |
Business Director |
|
|
|
|
Name : |
Mr. Deepak
Patel |
|
Designation : |
Chief
Executive Officer |
SHAREHOLDING PATTERN
|
Category of
Shareholder |
Total No. of Shares |
% of Total No. of Shares |
|
(A) Shareholding of Promoter
and Promoter Group |
||
|
|
|
|
|
|
136203 |
0.11 |
|
|
74308494 |
58.54 |
|
|
74444697 |
58.64 |
|
|
|
|
|
Total shareholding of Promoter
and Promoter Group (A) |
74444697 |
58.64 |
|
(B) Public Shareholding |
||
|
|
|
|
|
|
4956890 |
3.90 |
|
|
8544500 |
6.73 |
|
|
1493031 |
1.18 |
|
|
20174275 |
15.89 |
|
|
6257 |
0.00 |
|
|
6257 |
0.00 |
|
|
35174953 |
27.71 |
|
|
|
|
|
|
3804129 |
3.00 |
|
|
|
|
|
|
11335793 |
8.93 |
|
|
890824 |
0.70 |
|
|
1291696 |
1.02 |
|
|
337956 |
0.27 |
|
|
952299 |
0.75 |
|
|
1441 |
0.00 |
|
|
17322442 |
13.65 |
|
Total Public shareholding (B) |
52497395 |
41.36 |
|
Total (A)+(B) |
126942092 |
100.00 |
|
(C) Shares held by Custodians
and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
1425000 |
0.00 |
|
|
1752221 |
0.00 |
|
|
3177221 |
0.00 |
|
Total (A)+(B)+(C) |
130119313 |
0.00 |
Shareholding
of securities (including shares, warrants, convertible securities) of persons
belonging to the category Promoter and Promoter Group
|
Name of the Shareholder |
Details of Shares held |
|
|
No. of Shares held |
% of grand total |
|
|
Shri Aditya Vikram Kumar
Mangalam Birla HUF |
150 |
0.00 |
|
Shri Kumar Mangalam Birla |
4,609 |
0.00 |
|
Smt Rajashree Birla |
1,27,634 |
0.10 |
|
Smt Neerja Birla |
1,975 |
0.00 |
|
Smt Vasavadatta Bajaj |
1,835 |
0.00 |
|
Birla Group Holdings Private
Limited |
36,10,300 |
2.77 |
|
TGS Investment and Trade
Private Limited |
1,35,06,736 |
10.38 |
|
Trapti Trading and Investments
Private Limited |
94,23,935 |
7.24 |
|
Turquoise Investments and
Finance Private Limited |
64,41,092 |
4.95 |
|
Birla Consultants Limited |
28,655 |
0.02 |
|
Birla Industrial Finance India
Limited |
27,790 |
0.02 |
|
Birla Industrial Investments
India Limited |
5,955 |
0.00 |
|
ECE Industries Limited |
1,19,163 |
0.09 |
|
Grasim Industries Limited |
33,45,816 |
2.57 |
|
Hindalco Industries Limited |
86,50,412 |
6.65 |
|
IGH Holdings Private Limited |
1,63,52,102 |
12.57 |
|
Manav Investment & Trading
Company Limited |
1,14,675 |
0.09 |
|
Pilani Investment &
Industries Corporation Limited |
1,87,098 |
0.14 |
|
Umang Commercial Company
Limited |
1,24,94,765 |
9.60 |
|
Total |
7,44,44,697 |
57.21 |
Shareholding of
securities (including shares, warrants, convertible securities) of persons belonging
to the category Public and holding more than 1% of the total number of shares
|
Name of the Shareholder |
No.
of Shares held |
Shares
as % of Total No. of Shares |
|
|
Life Insurance Corporation of India
(including Shares held under various schemes / Funds) |
8417546 |
6.47 |
|
|
HSBC Global Investment Funds
A/c HSBC GIF Mauritius Limited |
2032199 |
1.56 |
|
|
Reliance Capital Trustee
Company Ltd A/c Reliance Growth Fund |
1442366 |
1.11 |
|
|
Total |
11892111 |
9.14 |
Shareholding
of securities (including shares, warrants, convertible securities) of persons
(together with PAC) belonging to the category “Public” and holding more than 5%
of the total number of shares of the company
|
Name(s) of the shareholder(s)
and the Persons Acting in Concert (PAC) with them |
No. of Shares |
% of Total No. of
Shares |
|
|
Life Insurance Corporation of
India (including Shares held under various schemes / Funds) |
8417546 |
6.47 |
|
|
Total |
8417546 |
6.47 |
Details of Locked-in
Shares
|
Name
of the Shareholder |
No.
of Shares |
%
of Total No. of Shares |
|
IGH Holdings Private Limited |
1,34,00,000 |
10.30 |
|
Umang Commercial Company
Limited |
31,00,000 |
2.38 |
|
Total |
1,65,00,000 |
12.68 |
Details of Depository
Receipts (DRs)
|
Type of Outstanding DR
(ADRs, GDRs, SDRs, etc.) |
No. of Outstanding DRs |
No. of Shares
Underlying |
Shares Underlying
Outstanding DRs as % of Total No. of Shares |
|
GDRs |
31,77,221 |
31,77,221 |
2.44 |
|
Total |
31,77,221 |
31,77,221 |
2.44 |
Holding of Depository
Receipts (DRs), where underlying shares held by 'promoter / promoter group' are
in excess of 1% of the total number of shares.
|
Name of the DR Holder |
Type of Outstanding DR
(ADRs, GDRs, SDRs, etc.) |
No. of Shares |
Shares Underlying
Outstanding DRs as a % of Total No. of Shares |
|
P T Indo Bharat Rayon |
GDRS |
9,90,000 |
0.76 |
|
P T Sunrise Bumi Textiles |
GDRS |
2,62,500 |
0.20 |
|
P T Elegant Textile Industry |
GDRS |
1,72,500 |
0.13 |
|
Total |
14,25,000 |
1.10 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the
financial services, telecom, fashion and lifestyle, IT-ITeS, and
manufacturing of Agri-business, Rayon Yarn, Insulators, Carbon Black
etc. |
GENERAL INFORMATION
|
No. of Employees : |
20250 (Approximately) |
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Bankers : |
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Facilities
: |
NOTES:
- Effective
cost has been calculated with hedged cost in terms of foreign currency loan
and net of interest subsidy in case of TUF loans. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name
1 : |
Khimji Kunverji and Company Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
|
|
|
Name
2 : |
S.R. Batliboi and Company LLP Chartered Accountants |
|
|
|
|
Branch Auditors: |
|
|
Name
1 : |
K. S. Aiyar and Company Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
|
|
|
Name
2 : |
Deloitte Haskins and Sells Chartered Accountants |
|
|
|
|
Solicitors : |
|
|
|
|
|
Subsidiaries
: |
|
|
|
|
|
Joint
Ventures : |
|
|
|
|
|
Associates
: |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
175000000 |
Equity Shares |
Rs.10/- each |
Rs.1750.000 Millions |
|
500000 |
Redeemable Preference
Shares |
Rs.100/- each |
Rs.50.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.1800.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
130126295 |
Equity Shares |
Rs.10/- each |
Rs.1301.300 Millions |
|
10000 |
6% Redeemable Cumulative
Preference Shares |
Rs.100/- each |
Rs.1.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.1302.300 Millions |
Issued, Subscribed & Paid-up Capital
:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
130084972 |
Equity Shares |
Rs.10/- each |
Rs.1300.800 Millions |
|
10000 |
6% Redeemable Cumulative
Preference Shares |
Rs.100/- each |
Rs.1.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.1301.800 Millions |
NOTES:
|
Equity
Shares |
Equity Shares |
Preference Shares |
|
No. of Shares Outstanding
at the beginning of the period @ Rs.10/- each |
120213187 |
10000 |
|
Allotment of Rights
Shares kept in abeyance on various dates @ Rs.10/- each |
19 |
-- |
|
Allotment of Shares on
exercise of option by employee under ESOS-2006 |
51766 |
-- |
|
Conversion of Warrants
into Equity Shares by the Promoter Group |
9820000 |
-- |
|
No. of Shares Outstanding
at the end of the period @ Rs.10/- each |
130084972 |
10000 |
The Company has only one class of equity shares having a
par value of Rs.10 per share. Each holder of equity shares is entitled to one
vote per share. The Company declares and pays dividend in Indian rupees. The
dividend proposed by the Board of Directors is subject to the approval of the
shareholders in the Annual General Meeting. In the event of liquidation of the
Company, the holders of equity shares will be entitled to receive remaining
assets of the Company, after distribution to all preferential holders. The
distribution will be in proportion to the number of equity shares held by the
shareholders.
The Board of Directors has recommended Equity Dividend of
Rs.7.00 per share for the year ended 31st March, 2014 (Previous Year: Rs.6.50
per share). The total cash outflows on account of the Equity Dividend would be
Rs.910.600 Millions (Previous Year: Rs.781.400 Millions) and Dividend Distribution
Tax thereon (Net of Tax Credit on dividend from subsidiary companies) would
Rs.66.700 Millions (Previous Year: Rs.Nil).
In accordance with the Composite Scheme of Arrangement,
10,000 (Previous Year: 10,000) 6% Redeemable Cumulative Preference Shares of
Rs.100/- each, fully paid-up, were issued to preference shareholders (other
than the Company) of Pantaloons Fashion and Retail Limited.
Preference shares carry cumulative dividend @6% p.a. The Company
declares and pays dividend in Indian rupees. The dividend proposed by the Board
of Directors is subject to the approval of the shareholders in the Annual
General Meeting. These preference shares are redeemable by the Company at any
time after completion of one year and on or before completion of five years
from the 1st January, 2010, at the face value. In the event of liquidation of
the Company before conversion/redemption of preference shares, the holders of
Preference Shares will have priority over Equity Shares in the payment of
dividend and repayment of capital.
The Board of Directors has recommended Preference Dividend
of Rs.6.00 per share for the year ended 31st March, 2014 (Previous Year:
Rs.6.00 per share). The total cash outflows on account of the Preference
Dividend would be Rs.0.100 Million (Previous Year: Rs.0.100 Million) and
Dividend Distribution Tax thereon (Net of Tax Credit on dividend from
subsidiary companies) would be Rs.Nil (Previous Year: Rs.Nil). There are no
arrears of Dividend relating to Preference Shares.
EQUITY SHARES
|
Name
of Shareholder |
Number of Shares |
%
holding |
|
IGH Holdings Private Limited |
16352102 |
12.57% |
|
TGS Investment and Trade Private Limited |
13506736 |
10.38% |
|
Umang Commercial Company Limited* |
12494935 |
9.60% |
|
Trapti Trading and Investments Private Limited |
9423935 |
7.24% |
|
Hindalco Industries Limited |
8650412 |
6.65% |
|
Life Insurance Corporation of India |
7759191 |
5.96% |
|
Turquoise Investment and Finance Private Limited |
6441092 |
4.95% |
|
Mangalam Services Limited* |
-- |
-- |
*During the year Mangalam Services Limited merged with
Umang Commercial Company Limited.
PREFERENCE
SHARES
|
Name
of Shareholder |
Number of Shares |
%
holding |
|
|
|
|
|
Naman Finance and Investment Private Limited |
5000 |
50.00% |
|
Infocyber (India) Private Limited |
5000 |
50.00% |
For details of Shares reserved for issue under the Employee
Stock Options Plan (ESOP) of the Company refer Note: 41.
|
Name
of Shareholder |
Number of Shares |
|
Rights
Issue (1994) |
12575 |
|
Bonus Share
on Above |
6288 |
|
Rights
Issue (2007) |
22460 |
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 |
1,301.800 |
1,203.100 |
1,136.200 |
|
(b)
Reserves & Surplus |
79,775.600 |
65,096.900 |
55,649.700 |
|
(c)
Money received
against share warrants |
0.000 |
2,236.200 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
81,077.400 |
68,536.200 |
56,785.900 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
13,921.900 |
14,179.100 |
14,064.200 |
|
(b) Deferred tax liabilities (Net) |
878.900 |
1,553.300 |
1,582.200 |
|
(c) Other long term
liabilities |
998.700 |
854.900 |
690.400 |
|
(d) long-term
provisions |
52.200 |
53.600 |
55.800 |
|
Total Non-current
Liabilities (3) |
15,851.700 |
16,640.900 |
16,392.600 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
21,340.000 |
20,883.900 |
26,703.800 |
|
(b) Trade payables |
15,056.200 |
15,262.800 |
12,272.900 |
|
(c) Other current liabilities |
4,530.900 |
8,929.600 |
8,129.500 |
|
(d) Short-term
provisions |
2,087.800 |
1,902.300 |
1,577.000 |
|
Total Current
Liabilities (4) |
43,014.900 |
46,978.600 |
48,683.200 |
|
|
|
|
|
|
TOTAL |
139,944.000 |
132,155.700 |
121,861.700 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
14,932.300 |
19,134.900 |
17,119.900 |
|
(ii) Intangible Assets |
484.500 |
530.400 |
351.800 |
|
(iii) Capital work-in-progress |
3,065.900 |
2,096.600 |
2,008.700 |
|
(iv)
Intangible assets under development |
0.000 |
10.300 |
1.500 |
|
(b) Non-current Investments |
79,523.400 |
58,566.600 |
55,979.500 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1,924.000 |
2,863.200 |
4,102.100 |
|
(e) Other
Non-current assets |
7.800 |
8.100 |
12.100 |
|
Total Non-Current
Assets |
99,937.900 |
83,210.100 |
79,575.600 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
156.500 |
2,780.000 |
0.000 |
|
(b) Inventories |
11,037.200 |
13,932.800 |
13,206.900 |
|
(c) Trade receivables |
20,457.000 |
28,072.600 |
16,898.800 |
|
(d) Cash and cash equivalents |
391.300 |
555.200 |
5,969.500 |
|
(e) Short-term loans and advances |
7,235.500 |
2,897.000 |
3,704.200 |
|
(f) Other current assets |
728.600 |
708.000 |
2,506.700 |
|
Total Current Assets |
40,006.100 |
48,945.600 |
42,286.100 |
|
|
|
|
|
|
TOTAL |
139,944.000 |
132,155.700 |
121,861.700 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
80,203.500 |
97,545.000 |
84,334.800 |
|
|
|
Other Income |
3,714.200 |
2,092.500 |
1,895.400 |
|
|
|
TOTAL
(A) |
83,917.700 |
99,637.500 |
86,230.200 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
29,441.200 |
43,275.000 |
39,826.400 |
|
|
|
Purchase of Stock-in- |
11,913.800 |
16,362.500 |
11,084.100 |
|
|
|
Changes in Inventories of Finished
Goods, Work-in-Progress and Stock-in-Trade) |
(2,044.300) |
(123.400) |
(925.400) |
|
|
|
Employee Benefits Expenses |
6,386.900 |
5,967.300 |
5,455.700 |
|
|
|
Power and Fuel |
9,550.000 |
8,685.000 |
20,288.800 |
|
|
|
Other
Expenses |
16,212.000 |
14,310.400 |
1,038.800 |
|
|
|
Exceptional
Items |
(240.600) |
0.000 |
0.000 |
|
|
|
TOTAL
(B) |
71,219.000 |
88,476.800 |
76,768.400 |
|
|
|
|
|
|
|
|
Less |
PROFIT BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
12,698.700 |
11,160.700 |
9,461.800 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
2,665.600 |
3,600.000 |
3,128.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX, DEPRECIATION
AND AMORTISATION (C-D) (E) |
10,033.100 |
7,560.700 |
6,333.600 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
1,990.200 |
2,191.800 |
2,030.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX (E-F) (G) |
8,042.900 |
5,368.900 |
4,303.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1,303.400 |
1,138.400 |
849.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX (G-H) (I) |
6,739.500 |
4,230.500 |
3,453.900 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT
FORWARD |
1673.400 |
513.300 |
281.900 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer
to General Reserve |
5000.000 |
2000.000 |
2000.000 |
|
|
|
Debenture
Redemption Reserve |
209.800 |
288.900 |
541.300 |
|
|
|
Proposed
Dividend on Preference Shares |
0.100 |
0.100 |
0.100 |
|
|
|
Proposed
Dividend on Equity Shares |
910.600 |
781.400 |
681.100 |
|
|
|
Corporate
Tax on Dividend |
66.700 |
0.000 |
0.000 |
|
|
|
Equity Dividend relating to
Previous Period |
0.100 |
0.000 |
0.000 |
|
|
BALANCE CARRIED TO THE B/S |
2225.600 |
1673.400 |
513.300 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN CURRENCY |
|
|
|
|
|
|
|
On Export of Goods
(F.O.B. Basis) |
7480.700 |
8742.100 |
10244.000 |
|
|
|
Sale of Certified
Emission Reduction |
34.300 |
91.900 |
15.900 |
|
|
|
Service Charge |
0.000 |
0.000 |
0.200 |
|
|
TOTAL EARNINGS |
7515.000 |
8834.000 |
10260.100 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
11372.800 |
23754.600 |
24616.500 |
|
|
|
Stores & Spares |
195.100 |
196.200 |
242.100 |
|
|
|
Capital Goods |
1606.400 |
1055.000 |
724.000 |
|
|
|
Purchase of Finished
Goods |
1141.700 |
7267.600 |
4003.300 |
|
|
TOTAL IMPORTS |
14316.000 |
32273.400 |
29585.900 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share (Rs.) |
|
|
|
|
|
|
Basic |
54.30 |
37.23 |
30.43 |
|
|
|
Diluted |
53.74 |
36.56 |
30.41 |
|
QUARTERLY RESULTS
|
Particulars |
|
|
30.06.2014 (Unaudited) |
|
|
|
|
1st Quarter |
|
Net
Sales |
|
|
19724.600 |
|
Total
Expenditure |
|
|
18022.000 |
|
PBIDT
(Excl OI) |
|
|
1702.600 |
|
Other
Income |
|
|
331.000 |
|
Operating
Profit |
|
|
2033.600 |
|
Interest |
|
|
679.600 |
|
Exceptional
Items |
|
|
0.000 |
|
PBDT |
|
|
1354.000 |
|
Depreciation |
|
|
457.100 |
|
Profit
Before Tax |
|
|
896.900 |
|
Tax |
|
|
207.400 |
|
Provisions
and contingencies |
|
|
0000 |
|
Profit
After Tax |
|
|
689.500 |
|
Extraordinary
Items |
|
|
0.000 |
|
Prior
Period Expenses |
|
|
0.000 |
|
Other
Adjustments |
|
|
0.000 |
|
Net
Profit |
|
|
689.500 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
8.03 |
4.25 |
4.01 |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
10.03 |
5.50 |
5.10 |
|
|
|
|
|
|
|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
14.02 |
7.51 |
6.74 |
|
|
|
|
|
|
|
Return
on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.08 |
0.08 |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Debt /Networth) |
|
0.43 |
0.51 |
0.72 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
0.93 |
1.04 |
0.87 |
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 |
1136.200 |
1203.100 |
1301.800 |
|
Reserves & Surplus |
55649.700 |
65096.900 |
79775.600 |
|
Net worth |
56785.900 |
66300.000 |
81077.400 |
|
|
|
|
|
|
long-term
borrowings |
14064.200 |
14179.100 |
13921.900 |
|
Short term borrowings |
26703.800 |
20883.900 |
21340.000 |
|
Total borrowings |
40768.000 |
35063.000 |
35261.900 |
|
Debt/Equity ratio |
0.718 |
0.529 |
0.435 |
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 |
84,334.800 |
97,545.000 |
80,203.500 |
|
|
|
15.664 |
(17.778) |
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 |
84,334.800 |
97,545.000 |
80,203.500 |
|
Profit |
3,453.900 |
4,230.500 |
6,739.500 |
|
|
4.10% |
4.34% |
8.40% |
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 |
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 |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
Yes |
LITIGATION
DETAILS:
|
HIGH COURT OF GUJARAT CIVIL
APPLICATION (FOR JOINING PARTY) No. 11846 of
2011 In
SPECIAL CIVIL APPLICATION / 564 / 2011 (PENDING)
Last Listing
Date: 02/07/2013
Office Details
Court Proceedings
Available
Orders
|
UNSECURED LOAN:
|
Particulars |
31.03.2014 Rs. In Millions |
31.03.2014 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Debentures |
5000.000 |
3000.000 |
|
Foreign Currency Loans from Banks |
2849.300 |
3038.300 |
|
Short Term Borrowings |
|
|
|
Loan Repayable on Demand from Banks |
|
|
|
Other Loans and Advances |
7413.500 |
18206.300 |
|
Commercial Papers* |
3957.800 |
995.000 |
|
Total |
19220.600 |
25239.600 |
NOTES:
(Unsecured Loan)
|
UNSECURED
LONG-TERM BORROWINGS: |
31.03.2014 |
31.03.2013 |
||
|
A)
DEBENTURES |
Current |
Non-Current |
Current |
Non-Current |
|
i) 7.90%
28th Series Non-Convertible
Debentures Repayment Terms:
Redeemable at par on 11th May, 2013. |
0.000 |
0.000 |
2000.000 |
0.000 |
|
ii) 8.99%
29th Series Non-Convertible Debentures Repayment Terms: Redeemable at par on
29th January, 2018 |
0.000 |
3000.000 |
0.000 |
3000.000 |
|
iii) 9.00%
30th Series Non-Convertible Debentures Repayment Terms: Redeemable at par on
10th May, 2023. |
0.000 |
2000.000 |
0.000 |
0.000 |
|
Total Debenture |
0.000 |
5000.000 |
2000.000 |
3000.000 |
|
B)
UNSECURED LONG-TERM FOREIGN CURRENCY BORROWINGS |
|
|
|
|
|
i) Foreign Currency Loan from Bank
Repayment Terms: 3 instalments of Rs.94.500 Millions, Rs.9.4.500 Millions and
Rs.283.300 Millions each on the date falling on 3rd, 4th and 5th year from
1st June, 2010, and 3 instalments of Rs.94.500 Millions, Rs.94.500 Millions
and Rs.283.400 Millions each on the date falling on 3rd, 4th and 5th year
from 26th July, 2010. |
189.000 |
566.800 |
189.000 |
755.800 |
|
Foreign Currency Loan from Bank
Repayment Terms: Bullet payment on 30th November, 2013. |
0.000 |
0.000 |
975.200 |
0.000 |
|
iii) Foreign Currency Loan from
Bank Repayment Terms: Bullet payment on 24th August, 2016. |
0.000 |
2282.500 |
0.000 |
2282.500 |
|
iv) Foreign Currency Loan from Bank
Repayment Terms: Bullet payment on 21st November, 2014 |
333.300 |
0.000 |
0.000 |
0.000 |
|
Total
Unsecured Long-term Foreign Currency Borrowings |
522.300 |
2849.300 |
1164.200 |
3038.300 |
|
Effective
cost for the above loans are in the range of 6% to 9% per annum (Previous
Year: in the range of 6% to 9% per annum). |
||||
STATEMENT OF STANDALONE UNAUDITED RESULTS FOR THE QUARTER ENDED 30TH
JUNE 2014
(Rs. In Millions)
|
Particulars |
Quarter Ended ( Unaudited) |
|
|
30.06.2014 |
|
1. Income from operations |
|
|
a) Net sales/
Income from operation (net of excise duty) |
19554.400 |
|
b) Other
operating income |
170.200 |
|
Total income from Operations(net) |
19724.600 |
|
2.Expenditure |
|
|
a)
Cost of
Material Consumed |
7568.400 |
|
b)
Purchase
of Stock-In-Trade |
2610.400 |
|
c)
Change
in Inventories of Finished Goods, Work-In-Progress and Stock-In-Trade |
-255.800 |
|
d)
Employee
Benefit Expense |
1674.300 |
|
e)
Power
and Fuel |
2116.500 |
|
f) Depreciation and Amortisation Expense |
457.100 |
|
g)
Other
Expenditure |
4308.200 |
|
Total
expenses |
18479.100 |
|
3. Profit
from operations before other income and financial costs |
1245.500 |
|
4. Other
income |
331.000 |
|
5. Profit
from ordinary activities before finance costs |
1576.500 |
|
6. Finance
costs |
679.600 |
|
7. Net
profit/(loss) from ordinary activities after finance costs but before
exceptional items |
896.900 |
|
8.
Exceptional item |
0.000 |
|
9. Profit from
ordinary activities before tax Expense: |
896.900 |
|
10.Tax
expenses |
207.400 |
|
11.Net
Profit / (Loss) from ordinary activities after tax (9-10) |
689.500 |
|
12.Extraordinary Items (net of tax expense) |
0.000 |
|
13.Net Profit / (Loss) for the period (11 -12) |
689.500 |
|
14.Paid-up equity share capital
(Nominal value Rs.10/- per share) |
1300.800 |
|
15. Reserve excluding
Revaluation Reserves as per balance sheet of previous accounting year |
-- |
|
16.Earnings per Share of Rs10 each (not annualised) |
|
|
(a) Basic – Rs. |
5.30 |
|
(b) Diluted – Rs. |
5.29 |
|
Particulars |
Quarter Ended ( Unaudited) |
|
|
31.03.2014 |
|
A.
Particulars of shareholding |
|
|
1. Public
Shareholding |
|
|
- Number of
shares |
52455092 |
|
- Percentage
of shareholding |
40.32% |
|
2. Promoters
and Promoters group Shareholding- |
|
|
a) Pledged
/Encumbered |
|
|
Number of
shares |
Nil |
|
Percentage of
shares (as a % of total shareholding of the promoter and promoter group) |
-- |
|
Percentage of
shares (as a % of total share capital of the company) |
-- |
|
|
|
|
b) Non Encumbered |
|
|
Number of
shares |
|
|
Percentage of
shares (as a % of total shareholding of the promoter and promoter group) |
74444697 |
|
Percentage of
shares (as a % of total share capital of the company) |
100.00% |
|
|
57.23% |
|
B. Investor Complaints |
|
|
Pending at
the beginning of the quarter |
1 |
|
Receiving
during the quarter |
5 |
|
Disposed of
during the quarter |
5 |
|
Remaining
unreserved at the end of the quarter |
1 |
STATEMENT OF STANDALONE UNAUDITED RESULTS FOR THE QUARTER ENDED 30TH
JUNE 2014
(Rs. In
Millions)
|
Particulars |
Quarter Ended ( Unaudited) |
|
|
31.03.2014 |
|
1.Segment Revenue |
|
|
Fashion and Lifestyle |
|
|
Branded Apparels and Accessories |
7367.200 |
|
Textiles |
3745.800 |
|
Agri - business (Fertilisers, Agro-Chemicals and Seeds) |
5636.500 |
|
Rayon Yarn (including Caustic Soda and Allied Chemicals) |
2121.100 |
|
Insulators |
869.100 |
|
Total Segmental Revenue |
19739.700 |
|
Less: Inter Segment Revenue |
(15.100) |
|
Total Income from Operations
(Net) |
19724.600 |
|
|
|
|
2.Segment Results (Profit
before Finance Costs and Tax) |
|
|
Fashion and Lifestyle |
|
|
Branded Apparels and Accessories |
440.800 |
|
Textiles |
441.800 |
|
Agri - business (Fertilisers, Agro-Chemicals and Seeds) |
186.000 |
|
Rayon Yarn (including Caustic Soda and Allied Chemicals) |
428.900 |
|
Insulators |
24.700 |
|
Total Segment Result |
1522.200 |
|
Less: Finance Costs |
(679.600) |
|
Add: Interest Income |
108.000 |
|
Less: Other Un-allocable (Expenditure) / Income - net |
(53.700) |
|
Profit after Finance Costs
but before Exceptional Items |
896.900 |
|
Exceptional Items (refer note no 2) |
0.000 |
|
Profit before Tax |
896.900 |
|
|
|
|
Capital Employed (Segment Assets - Segment
Liabilities) |
|
|
Fashion and Lifestyle |
|
|
Branded Apparels and Accessories |
3725.700 |
|
Textiles |
2782.300 |
|
Agri - business (Fertilisers, Agro-Chemicals and Seeds) |
14277.900 |
|
Rayon Yarn (including Caustic Soda and Allied Chemicals) |
7409.300 |
|
Insulators |
3814.900 |
|
Total Segment Capital
Employed |
32010.100 |
|
Add: Unallocated Corporate Assets |
79120.100 |
|
Total Capital Employed |
111130.200 |
NOTES:
1.
ABNL IT and ITES
Limited, a wholly owned subsidiary of the Company, had divested its holding in
IT-ITeS subsidiary to a group of investors led by Capital Sqaure Partners and CX
Partners. With this divestment, Aditya Birla Minacs Worldwide Limited and its
subsidiaries ceased to be subsidiaries of the Company, with effect from 9th
May, 2014.
2.
The Company has
accounted for slump sale of Carbon Black business in previous year, accordingly
a gain of Rs.240.600 Millions on the said slump sale had been recognised as an
exceptional item and a net tax credit of Rs.407.000 Millions (including
reversal of deferred tax credit) had been netted off with tax expense in the
quarter ended 30th June 2013 and the year ended 31st March 2014.
3.
Effective from 1st
April, 2014, the Company has provided depreciation on fixed assets based on
useful lives as provided in Schedule II of the Companies Act, 2013 or as re-assessed
by the Company. Based on transitional provision given in Schedule II, the
carrying value of assets whose useful life are already exhausted amounting to Rs.125.100 Millions (net of deferred tax Rs.64.400 Millions) has been charged to opening
balance of retained earnings.
4.
Had there been no
change in useful lives of fixed assets, the charge to the Statement of Profit
and Loss for the quarter ended 30th June, 2014 would have been higher by Rs.42.400 Millions.
5.
During the period,
operation of one unit of Insulator Business at Rishra remained suspended for a
period of 42 days due to illegal stoppage of work affecting entire line of
manufacturing process. This was settled subsequently following wage settlement.
6.
Other Income for the
quarter ended 30th June 2013 includes profit on account of buyback of
Investment in Equity Shares of Rs.1442.900 Millions by Birla Sun Life Insurance Company Limited.
7.
The figures for the
quarter ended 31st March, 2014 are the balancing figures between the audited
figures in respect of the full financial year ended 31st March, 2014 and the
unaudited published year to date figures up to 31st December, 2013 which were
subjected to limited review.
8.
The previous periods
figures have been regrouped or rearranged wherever necessary.
9. The above results have been reviewed by the Audit Committee of the Board and taken on record at the meeting of the Board of Directors held on 12th August 2014. The Statutory Auditors of the Company have carried out Limited Review as required under Clause 41 of Listing Agreement and the related report is being submitted to the concerned stock exchanges.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10490699 |
24/03/2014 |
1,162,925,000.00 |
SUMITOMO MITSUI BANKING CORPORATION SINGAPORE BRANCH |
3, TEMASEK AVENUE, #06-01, CENTENNIAL TOWER, SINGAPORE, - 039190, SINGAPORE |
C03923794 |
|
2 |
10464370 |
26/11/2013 |
260,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W , MUMBAI, MAHARASHTRA - 400013, INDIA |
B91200485 |
|
3 |
10421667 |
12/06/2013 * |
350,000,000.00 |
STATE BANK OF INDIA |
CORPORATE ACCOUNT GROUP, NEVILLE HOUSE, J.N.HEREDIA MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400080, INDIA |
B78470614 |
|
4 |
10375114 |
01/09/2012 |
1,616,400,000.00 |
THE BANK OF NOVA SCOTIA ASIA LIMITED |
#20-01
NORTH TOWER, ONE RAFFLES QUAY, SINGAPORE, |
B57529794 |
|
5 |
10129912 |
03/11/2008 |
200,000,000.00 |
HDFC BANK LIMITED |
SALCO
CENTRE, RICHMOND ROAD, BANGALORE, KARNATAKA |
A51014884 |
|
6 |
10115935 |
08/07/2008 |
740,500,000.00 |
STATE BANK OF INDIA |
CAG- CENTRAL, 3RD FLOOR, STATE BANK BHAVAN, , MADAME CAMA ROAD, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
A41874926 |
|
7 |
10113548 |
04/07/2008 |
200,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC COMPLEX,, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A42415869 |
|
8 |
10098182 |
14/06/2013 * |
350,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, 21ST FLOOR, WORLD TRADE CENTR, CUFFE PARADE,, MUMBAI, MAHARASHTRA - 400005, INDIA |
B78797586 |
|
9 |
10095110 |
13/03/2008 |
30,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A35422328 |
|
10 |
10095113 |
13/03/2008 |
40,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A35423300 |
|
11 |
10095124 |
13/03/2008 |
50,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A35427319 |
|
12 |
10073018 |
12/10/2007 |
260,000,000.00 |
CITIBANK N A |
CITIGROUP CENTRE, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI, MAHARASHTRA - 400051, INDIA |
A25773581 |
|
13 |
10048189 |
27/04/2007 |
910,000,000.00 |
STATE BANK OF INDIA |
CAG
- CENTRAL, 3RD FLOOR, STATE BANK BHAVAN, MADA |
A14404966 |
|
14 |
10048645 |
30/10/2007 * |
510,000,000.00 |
THE
HONGKONG AND SHANGHAI BANKING CORPORATION LIMI |
7
M G ROAD, BANGALORE €“
560 001, BANGALORE, KAR |
A25536566 |
|
15 |
10041904 |
17/02/2007 |
1,900,000,000.00 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A11759230 |
|
16 |
10032466 |
24/05/2013 * |
950,000,000.00 |
LIFE INSURANCE CORPORATION OF INDIA |
YOGAKSHEMA,, JEEVAN BEEMA MARG, MUMBAI, MAHARASHTRA - 400021, INDIA |
B77430304 |
|
17 |
10029983 |
24/11/2010 * |
3,100,000,000.00 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA |
IDBI
TOWER, WTC COMPLEX, CUFFE PARADE, MUMBAI, MA |
B00087684 |
|
18 |
10142393 |
21/08/2006 |
36,500,000.00 |
EXPORT IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, FLOOR 21,, WORLD TRADE CENTER COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A05239918 |
|
19 |
80011033 |
28/02/2007 * |
4,250,000,000.00 |
CITIBANK N.A. |
CITI GROUP CENTRE, 6TH FLOOR, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI, MAHARASHTRA - 400051, INDIA |
A12510764 |
|
20 |
80051763 |
22/01/2009 * |
1,000,000,000.00 |
STATE BANK OF INDIA |
CORPORATE ACCOUNTS GROUP, VOLTAS HOUSE, 23,J.N. HERITAGE MARG, MUMBAI, MAHARASHTRA - 400001, INDIA |
A56530603 |
|
21 |
80009231 |
24/05/2013 * |
250,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B76577303 |
|
22 |
80008555 |
24/05/2013 * |
1,000,000,000.00 |
LIFE INSURANCE CORPORATION OF INDIA |
YOGAKSHEMA,, JEEVAN BEEMA MARG,, MUMBAI, MAHARASHTRA - 400021, INDIA |
B77430825 |
|
23 |
80057833 |
23/03/2005 |
10,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMTED |
7, MAHATMA GANDHI ROAD, BANGALORE, KARNATAKA - 560 001, INDIA |
- |
|
24 |
80057832 |
23/03/2005 |
25,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMTED |
7, MAHATMA GANDHI ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
- |
|
25 |
80037678 |
28/09/2007 * |
61,400,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W , MUMBAI, MAHARASHTRA - 400013, INDIA |
A28835049 |
|
26 |
90192951 |
15/02/2005 |
4,000,000.00 |
HDFC BANK PRIVATE LIMITED |
MG ROAD BRANCH, MG ROAD, BANGLORE, KARNATAKA - 560001, INDIA |
- |
|
27 |
90110559 |
04/09/2006 * |
1,300,000,000.00 |
STATE BANK OF INDIA |
CORPORATE
ACCOUNT GROUP BRANCH, VOLTAS HOUSE,23 J N HERDIA MARG,BALLARD ESTATE, MUMBAI,
MAHARASHTRA |
- |
|
28 |
90198119 |
29/04/2002 |
12,000,000.00 |
HDFC BANK LIMITED |
SHANKARANARAYANA
BUILDING, M.G. ROAD, BANGALORE, |
- |
|
29 |
90200703 |
29/04/2002 |
12,000,000.00 |
HDFC BANK LIMITED |
SHANKARANARAYANA
BUILDING, M.G. ROAD, BANGALORE, |
- |
|
30 |
80050375 |
29/04/2002 |
9,100,000.00 |
HDFC BANK LIMITED |
M.G. ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
- |
|
31 |
80050373 |
29/04/2002 |
15,000,000.00 |
HDFC BANK LIMITED |
MG ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
- |
|
32 |
90200653 |
08/11/2001 |
6,500,000.00 |
HDFC BANK LIMITED |
SHANKARANARAYANA
BUILDING, M.G. ROAD, BANGALORE, |
- |
|
33 |
90198029 |
07/09/2006 * |
300,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
- |
|
34 |
80007923 |
19/03/2010 * |
17,500,000,000.00 |
STATE BANK OF INDIA |
CORPORATE ACCOUNTS GROUP BRANCH,, NEVILLE HOUSE, J. N. HEREDIA MARG,, MUMBAI, MAHARASHTRA - 400001, INDIA |
A81569006 |
|
35 |
90197029 |
17/04/2000 * |
2,000,000.00 |
ANZ GRINDLAYS BANK LIMITED |
BANGALORE
BRANCH, RAHEJA TOWERS; M.G. ROAD, BANGA |
- |
|
36 |
90200089 |
17/04/2000 * |
2,000,000.00 |
ANZ GRINDLAYS BANK LIMITED |
BANGALORE BRANCH, RAHEJA TOWERS; NO. 26-27; M.G. ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
- |
|
37 |
90190547 |
10/01/1996 * |
600,000.00 |
ANZ GRINDLAYS BANK P.L.C. |
6 - TH FLOOR; RAHEJA TOWERS, NO - 26; MG ROAD, BANGLORE, KARNATAKA - 560001, INDIA |
- |
FIXED ASSETS:
·
Land
·
Railway Siding
·
Buildings
·
Leasehold Improvements
·
Plant and Machinery
·
Furniture, Fixtures and Equipment
·
Vehicles and Aircraft
·
Livestock
·
Goodwill
·
Trademark / Brands / Technical Know-how
·
Specialised Software
PRESS
RELEASE:
ADITYA
BIRLA NUVO REPORTS RESULTS FOR THE QUARTER ENDED 30 JUNE 2014
·
Revenue grew by 8 per cent to Rs.62070.000 Millions
·
EBITDA is up by 8 per cent to Rs.12730.000 Millions
Rs. In Millions
|
Consolidated results |
Quarter 1 |
||
|
|
2013-14 (Previous year) |
2014-15 (Current year) |
|
|
Revenue |
57440.000 |
62070.000 |
|
|
EBITDA |
11740.000 |
12730.000 |
|
|
Normalised Net
Profit (Excluding IT-ITeS business and before one-off
items)1 |
2370.000 |
3000.000 |
|
|
Reported Net Profit |
3310.000 |
2640.000 |
|
Note1: In Q1 last year, profit is higher by Rs.650.000 Millions on
account of gain on slump sale of Carbon Black Business (including net tax credit of Rs.410.000 Millions). In Q1FY15,
profit is lower by Rs.360.000 Millions account of net loss of Rs.230.000
Millions from operations of Minacs for the period from 1 April 2014 to 8 May
2014 and exceptional loss of Rs.130.000 Millions pertaining to the divestment
of Minacs. This loss is without considering deferred grant of Rs.420.000
Millions receivable over the next 3 years, which will be accounted for on
actual receipt basis.
Excluding
the IT-ITeS Business, which was divested with effect from 9 May 2014, the
revenue of Aditya Birla Nuvo Limited (ABNL) rose year on year by 16 per cent
and net profit (before one-off items) is up by 27 per cent.
Business-wise
review
Aditya Birla Financial Services
Aditya Birla Financial Services (ABFS)
ranks among the top five fund managers (excluding LIC) in India. Its funds
under management grew by 21 per cent to US$22.4 billion (Rs.1342160.000
Millions). Its consolidated revenue at Rs.16550.000 Millions registered a 21
per cent growth. It posted earnings before tax of Rs.2200.000 Millions. ABFS
gained market share across its Life Insurance, Asset Management, Broking and General Insurance Advisory Businesses.
Growth in its lending book continues to be robust. The business portfolio of
ABFS stands augmented with the license for housing finance business granted.
Among the private life insurers, new business
premium market share of Birla Sun Life Insurance (BSLI) is up from 6.7 per cent
to 9.5 per cent and its ranking improved from 7 to 5 led by strong growth in
the group business. BSLI reported its embedded value at Rs.32250.000 Millions
and value of new business margin at 16.2 per cent for 2013-14.
Birla Sun Life Asset Management (BSAMC) cemented its position as the fourth
largest player in India with an improved market share of 9.98 per cent up from
9.42 per cent a year ago. In terms of domestic equity AUM, BSAMC moved two
places up to rank fifth. Its AUM crossed the Rs.100,0000.000 Millions mark. The
lending book of Aditya Birla Finance expanded by 50 per cent to about
Rs.12,6000.000 Millions. The broking and the wealth management businesses turned profitable with improvement in
market sentiment coupled with cost control initiatives.
Fashion and Lifestyle
The company’s Fashion and Lifestyle Business continued to expand
its customer reach, strengthening its
leadership position. During the quarter, 66 stores were opened to reach
1,791 exclusive brand outlets/stores, spanning nationwide across 4.4 million square feet. Its revenue rose by 18
per cent to Rs.15280.000 Millions and EBITDA by 53 per cent to Rs.1090.000
Millions led by revenue growth and margin expansion across formats. Madura
achieved all round growth in earnings. Its revenue surged by 23 per cent to
Rs.7870.000 Millions and EBITDA soared by 66 per cent to Rs.620.000 Millions.
EBITDA margin stands expanded by 200 basis points. The revenue of Pantaloons
grew by 12 per cent to Rs.3860.000 Millions. Led by execution of portfolio
strategy and improved merchandising, gross margin expanded by over 300 basis
points. The annualisation impact of business building costs and higher
accelerated depreciation on account of stores refurbishment strained its
bottom-line. Pantaloons is raising
capital through rights issue to fund its growth capital requirements.
Jaya Shree attained its highest ever quarterly earnings led by expansion in
linen segment. To strengthen its market leadership, it is further
expanding its linen yarn capacity from 3,400 to 6,400 tonnes per annum.
Telecom
Idea ranks as the sixth largest cellular operator in the world, in terms of
subscribers based on operations in a single country. In India, it ranks third with
an improved revenue market share at 16.6 per cent up from 15.7 per cent a year
ago. It posted a strong growth in earnings led by robust voice and data usage,
improved voice realisation, scale benefit and cost efficiency. Its revenue grew
by 16 per cent to Rs.7,5550.000 Millions and EBITDA rose by 20 per cent to
Rs.2,5450.000 Millions. With net debt
to EBITDA at 1.54 times, its balance sheet remained strong. The cash profit
generation of Rs.20.2 billion and equity infusion of Rs.3,0000.000 Millions
raised in June 2014 through the QIP were the contributors. In July 2014, Idea
raised Rs.7500.000 Millions through the issue of equity shares on preferential
basis to Axiata.
Manufacturing (Agri, Rayon and
Insulators)
The revenue from the manufacturing businesses at Rs.8630.000 Millions grew by
10 per cent and EBITDA at Rs.880.000 Millions is up by 4 per cent. In the Agri
Business, profitability is higher led by energy savings despite the plant
shutdown for 15 days. In the Rayon Business, the new superfine unit is running
at full capacity and contributing to the bottom-line. Earnings were partly
offset by lower caustic soda volumes owing to the maintenance shutdown. The
Insulators Business was impacted by disruption/suspension of work for 42 days at Rishra plant due to labour
unrest. The plant resumed operations on 18 June 2014.
Going forward
For fiscal 2014-15, ABNL has earmarked a capital expenditure plan of around
Rs.5000.000 Millions. The company plans to invest about Rs.3500.000 Millions in
the Financial Services Business besides subscribing to the rights issue of
Pantaloons. The cash flow from operations and proceeds from the divestment of
Minacs will support the growth plans of ABNL.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No 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.61.23 |
|
UK Pound |
1 |
Rs.98.67 |
|
Euro |
1 |
Rs.77.97 |
INFORMATION DETAILS
|
Information Gathered by : |
SUV |
|
|
|
|
Analysis Done by : |
SUB |
|
|
|
|
Report Prepared by : |
ANK |
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 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--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.