MIRA INFORM REPORT
|
Report Date : |
19.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
TRIDENT LIMITED (w.e.f. 18.04.2011) |
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Formerly Known
As : |
ABHISHEK INDUSTRIES LIMITED |
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Registered
Office : |
Trident Complex, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
18.04.1990 |
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Com. Reg. No.: |
16-010307 |
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Capital
Investment / Paid-up Capital : |
Rs.3110.900 Millions |
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CIN No.: [Company Identification
No.] |
L99999PB1990PLC010307 |
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IEC No.: |
3091002837 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
JLDA00951G |
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PAN No.: [Permanent Account No.] |
AABCA4139J |
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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 manufacturing, trading and sale of yarn, terry towels, paper, chemicals and sale of services. |
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No. of Employees
: |
10000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 37000000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a flagship company of the “TRIDENT GROUP”. It is an
established company having satisfactory track. The company possesses a decent financial profile marked by overall
important in the operational and financial profile, backed by growth in
operations, better profitability and improved capital structure during FY 14. Further we found that the management of the company has entered into
the scheme of amalgamation of the subject with the Trident Corporation
Limited w.e.f. April 1, 2014 as approved by the high court of Punjab and
Haryana and the same in not expected to have adverse impact and may generate
favourable synergies. Trade relations are fair. Business is active. Payment terms are
reported as regular and as per commitments. Trade relations are fair. Business is active. Payment terms are
reported as regular and as per commitments. In view of experienced promoters, the subject can be considered for
business dealings at usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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.
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
Managements Non Co-operative (91-161-5039999)
LOCATIONS
|
Registered Office/ Factory 1 : |
Trident Complex,
Raikot Road, Barnala – 148101, Punjab, India |
|
Tel. No.: |
91-1679-244700/ 244701/02 |
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Fax No.: |
91-1679-244708 |
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E-Mail : |
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Website : |
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Area : |
109.35 acres |
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Location : |
Owned (Freehold) |
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Corporate / Head Office : |
E-212, Kitchlu Nagar, Ludhiana – 141001, Punjab, India |
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Tel. No.: |
91-161-5039999/5038888 / 2304000 |
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Fax No.: |
91-161-5039900/5038800 |
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E-Mail : |
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Area : |
11001.5 sq. yrds. |
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Location : |
Owned (Leasehold) |
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Factory 2 : |
Towel, Paper,
Chemical and Energy Plant Trident Complex, Dhaula and Fatehgarh Channa, Punjab, India |
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Area : |
207.64 acres |
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Location : |
Owned (Freehold) |
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Factory 3 : |
Towel, Paper,
Chemical and Energy Plant Trident Complex, Fatehgarj Channa, Punjab, india |
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Area : |
345.82 acres |
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Location : |
Owned (Freehold) |
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Factory 4 : |
Railway Siding Village Seikka, Barnala, Punjab, India |
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Area : |
29.8 acres |
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Location : |
Owned (Freehold) |
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Factory 5 : |
Yarn Plant Budni, Post Office, Pilikara, District – Sihore – 466 445, Madhya
Pradesh, India |
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Tel. No.: |
91-7564-280844 |
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Fax No.: |
91-7564-280875 |
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Area : |
29.72 acres |
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Location : |
Owned (Leasehold) |
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Factory 6 : |
Yarn Plant Trident Complex, Budni, Madhya Pradesh, India |
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Area : |
138.33 acres |
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Location : |
Owned (Freehold) |
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Factory 7 : |
Site for Garment
Plant C – 9,
Industrial Area, Mandideep Phase II,Tehsil, Goharganj, District Raisen,
Madhya Pradesh, India |
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Area : |
24435 sq. mtrs |
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Location : |
Owned (Leasehold) |
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Branch Offices : |
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Branch 1 : |
A-25/ 15-16, DLF, Phase 1, Gurgaon, Haryana, India |
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Tel. No.: |
91-124-2567943-47 |
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Fax No.: |
91-124-2567948 |
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Branch 2 : |
6 Fort, Vijay Society (2nd Floor), 1/3 Gola Lane, Opposite Dr. D N Road, Behind Central Camera, Mumbai-400001, Maharashtra, India |
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Branch 3 : |
SCO 20-21, Setcor-9, Madhya Marg, Chandigarh-160009, India |
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Area : |
367.52 sq. yards |
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Location : |
Rented |
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Branch 4 : |
Plot No. 3 situated at Nadir Colony, Bhopal, Madhya Pradesh, India |
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Area : |
2900 sq. ft. |
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Location : |
Owned (Leasehold) |
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Branch 5 : |
C – 185 ‐186 Industrial Area, Phase VIII, Mohali,
Punjab, India |
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Area : |
8867 sq. yds. |
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Location : |
Owned (Leasehold) |
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US Office : |
295 Fifth Avenue, Room 1112, New York NY 10016 USA |
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Email : |
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Area : |
2900 sq. ft. |
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Location : |
Leasehold |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. S. K. Tuteja |
|
Designation : |
Director |
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|
Name : |
Mr. Rajinder Gupta |
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Designation : |
Director |
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Address : |
E-212, Kitchlu Nagar, Ludhiana, Punjab, India |
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Date of Birth/Age : |
55 Years |
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Qualification : |
Advanced Management Program from Harvard Business School, USA |
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Date of Anointment : |
15.05.2013sss |
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DIN No.: |
00009037 |
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Name : |
Mrs. Pallavi Shroff |
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Designation : |
Director |
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Address : |
S-270, Greater Kailash II, New Delhi, India |
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Date of Birth/Age : |
57 Years |
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Qualification : |
L.L.B, M.M.S |
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Experience : |
30 Years |
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Date of Anointment : |
28.03.2002 |
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DIN No.: |
00013580 |
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Name : |
Mr. Rajiv Dewan |
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Designation : |
Director |
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Address : |
96 F, Rishi Nagar, Ludhiana, Punjab, India |
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Date of Birth/Age : |
52 Years |
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Qualification : |
Chartered Accountant |
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Date of Anointment : |
14.05.2005 |
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DIN No.: |
00007988 |
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Name : |
Mr. Deepak Nanda |
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Designation : |
Director |
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Address : |
H No 561, Sector 10, Panchkula, Haryana, India |
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Date of Birth/Age : |
54 Years |
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Qualification : |
Master of
Science and Advance Training in Computer Software and Management |
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Date of Appointment : |
12.11.2013 |
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DIN No.: |
00403335 |
KEY EXECUTIVES
|
Name : |
Mr. Gunjan Shroff |
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Designation : |
Chief Financial Officer |
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Name : |
Mr. Pawan Babbar |
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Designation : |
Company Secretary |
SHAREHOLDING PATTERN
AS ON 30.06.2014
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
Bodies Corporate |
168595513 |
37.68 |
|
|
139706193 |
31.22 |
|
|
139706193 |
31.22 |
|
|
308301706 |
68.90 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
308301706 |
68.90 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
260726 |
0.06 |
|
|
7771967 |
1.74 |
|
|
56991 |
0.01 |
|
|
8089684 |
1.81 |
|
|
|
|
|
|
71862410 |
16.06 |
|
|
|
|
|
|
28180693 |
6.30 |
|
|
16032350 |
3.58 |
|
|
14971869 |
3.35 |
|
|
14971869 |
3.35 |
|
|
131047322 |
29.29 |
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Total Public shareholding (B) |
139137006 |
31.10 |
|
Total (A)+(B) |
447438712 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
447438712 |
0.00 |
(1)
Indian
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing, trading and sale of yarn, terry towels, paper, chemicals and sale of services. |
GENERAL INFORMATION
|
No. of Employees : |
10000 (Approximately) |
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Bankers : |
·
State Bank of India, 2nd Floor, Main
Branch Building Fountain Chowk, Civil Lines, Ludhiana, Punjab, India Tel. No.: 91-161-2449081 /
2449069 ·
State Bank of India, Industrial Finance Branch, Dholewal Chowk, Ludhiana, Punjab,
India ·
Punjab National Bank, Large Corporate Branch, Bhagwati Tower, RK Road, Cheema Chowk,
Ludhiana, Punjab, India ·
Canara Bank,
Bharat Nagar Chowk Ludhiana, Punjab, India ·
State Bank of Patiala, Commercial Branch, Miller
Ganj, Ludhiana, Punjab, India ·
Corporation Bank, Pakhowal Road, Ludhiana,
Punjab, India ·
Oriental Bank of Commerce, Overseas Branch B‐XV‐136, Jandu Tower, Miller Ganj, G.T. Road,
Ludhiana, Punjab, India ·
State Bank of Travancore, Commercial Branch, K.G.
Marg, New Delhi, India ·
State Bank of Mysore, 3,4 and 5, DDA Building,
Nehru Place, New Delhi, India ·
Syndicate Bank, Corporate Finance Branch Sarojini
House 6, Bhagwan Dass Road, New Delhi, India ·
Allahabad Bank, IIFB Branch 165, Ind. Near Cheema
Chowk, Ludhiana, Punjab, India ·
Indian Bank, 1601, Kalsi Nagar, G.T. Road,
Ludhiana, Punjab, India ·
Bank of India, Ludhiana Mid Corporate Branch 579‐R, 1st Floor, Model Town, Ludhiana‐141002, Punjab, India ·
IDBI Bank Limited.
Indian Red Cross Society Building, 1, Red Cross Road, New Delhi, India ·
Exim Bank, Chandigarh Representative Office First
Floor, PHD House Dakshin Marg, Sector 31‐A, Chandigarh,
India ·
Indian Overseas Bank, Sainik Rest House Katchery
Road, Ludhiana, Punjab, India ·
State Bank of Bikaner and Jaipur, Specialised SSI
Branch, G.T. Road, Ludhiana, Punjab, India ·
State Bank of Hyderabad, SSI Branch, Sona
Complex, 15/179, G.T. Road, Miler Ganj, Ludhiana, Punjab, India |
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Facilities : |
NOTES: Long Term
Borrowings Term loans Term loans from banks and financial institutions are
secured by way of equitable mortgage created or to be created on all the
present and future immovable properties including all land, buildings,
structures, all plant and machinery attached thereon of the Company and
hypothecation of all the movable properties including movable machinery
spares, tools and accessories, etc., present and future, subject to prior
charges created and/or to be created in favour of the Company’s bankers on
stocks of raw materials, semi-finished and finished goods, consumable stores
and other movables, as may be required for working capital requirements in
the ordinary course of business. The mortgages and charges referred to above
rank pari-passu among the lenders Includes Rs.872.6
million (Previous year Rs.1,145.8
million) buyers credits loan taken by the Company for a period of up to 3
years from foreign banks against term loans sanctioned by Indian banks. As
per agreed terms, these buyer credit loans would be repaid to foreign banks
by Indian banks out of term loan amount sanctioned to the Company by these
Indian banks and accordingly, have been classified as long term borrowings. Vehicles loans Vehicle loans are secured by hypothecation of
vehicles acquired against such loans. For the current maturities of long-term
borrowings, refer note 9 – other current liabilities. Short Term
Borrowings Cash
credits/working capital loans Cash credits/working capital loans are secured by
hypothecation of raw materials, semi-finished and finished goods, stock-in
process, consumable stores, other movable assets and book debts, present and
future, of the Company. The limits are further secured by way of second pari
passu charge on the immovable properties of the Company. |
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Banking
Relations : |
-- |
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|
Auditors : |
|
|
|
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|
Statutory
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
7th Floor, Building 10, Tower B, DLF Cyber City Complex,
DLF City Phase-II, Gurgaon-122002, Haryana, India |
|
Tel. No.: |
91-124-6792000 |
|
Fax No.: |
91-124-6792012 |
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|
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Cost
Auditors : |
|
|
Name : |
Ramanath Iyer and Company Cost Accountants |
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Tax
Auditors : |
|
|
Name : |
S C Vasudeva and Company Chartered Accountants |
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Enterprise that
controls the Company : |
Madhuraj Foundation (directly or indirectly holds
majority voting power) Address : SCO 20‐21, Sector 9‐D, Madhya
Marg, Chandigarh ‐ 160009, India |
|
|
|
|
Enterprises that
are controlled by the Company, i.e. subsidiary companies : |
Trident Global Corp Limited |
|
|
|
|
Enterprises under
the common control as the Company : |
· Trident Group Limited · Trident Corporation Limited · Trident Capital Limited · Abhishek Ventures and Projects Limited |
|
|
|
|
Enterprise on which
company personnel and their relatives : |
·
Lotus Integrated Texpark Limited ·
Trident Global Inc. |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6081000000 |
Equity Shares |
Rs.10/- each |
Rs.60810.000 Millions |
|
3005000000 |
Preference Shares |
Rs.10/- each |
Rs.30050.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.90860.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
311086712 |
Equity Shares |
Rs. 10/- each |
Rs.3110.900 Millions |
|
|
|
|
|
a.
Reconciliation of the number of shares and amount
outstanding at the beginning and at the end of the reporting period:
|
Equity Shares |
Number
of Shares |
Rs.
In Millions |
|
Issued, Subscribed and Paid up equity shares |
|
|
|
Shares outstanding at the
beginning of the year |
310837112 |
3108.400 |
|
Shares issued during the year |
249600 |
2.500 |
|
Shares outstanding at the end of the year |
311086712 |
3110.900 |
b.
Rights, preferences and restrictions attached to
the equity shareholders:
The Company has one class of equity shares having a
par value of Rs.10 per share. Each shareholder is
eligible for one vote per share held. In the event of liquidation, the equity
shareholders are eligible to receive the remaining assets of the Company after
distribution of all preferential amounts, in proportion to their shareholding.
c.
The details of shareholders holding more than 5
percent shares:
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Madhuraj
Foundation |
134484000 |
43.2% |
|
Trident
Group Limited |
30000000 |
9.6% |
|
Trident
Capital Limited |
20000000 |
6.4% |
|
Prudent
Traders Private Limited |
-- |
-- |
d.
Number of shares allotted as fully paid up pursuant
to contract(s) without payment being received in cash:
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Shares allotted pursuant to the scheme of amalgamation
during last 5 years |
53503427 |
17.2% |
e.
As at
March 31, 2014, 60,000,000 shares (Previous year Nil) were reserved for
issuance towards outstanding share warrants.
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 |
3110.900 |
3108.400 |
3058.400 |
|
(b) Reserves & Surplus |
5767.900 |
3954.300 |
3425.800 |
|
(c) Money
received against share warrants |
430.000 |
0.000 |
21.300 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
9308.800 |
7062.700 |
6505.500 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
7658.600 |
9491.800 |
12725.700 |
|
(b) Deferred tax liabilities (Net) |
1082.300 |
1070.100 |
759.800 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
45.300 |
42.900 |
30.100 |
|
Total Non-current Liabilities (3) |
8786.200 |
10604.800 |
13515.600 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
8038.800 |
9673.600 |
7356.500 |
|
(b) Trade payables |
1852.500 |
1658.500 |
1821.700 |
|
(c) Other current
liabilities |
3665.800 |
3841.500 |
3447.600 |
|
(d) Short-term provisions |
193.200 |
27.800 |
19.100 |
|
Total Current Liabilities (4) |
13750.300 |
15201.400 |
12644.900 |
|
|
|
|
|
|
TOTAL |
31845.300 |
32868.900 |
32666.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
17912.300 |
19622.200 |
21400.300 |
|
(ii) Intangible Assets |
43.600 |
60.000 |
79.200 |
|
(iii) Capital work-in-progress |
276.900 |
280.500 |
63.800 |
|
(iv)
Intangible assets under development |
85.900 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1032.300 |
619.700 |
556.500 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1514.400 |
1224.600 |
1151.900 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
20865.400 |
21807.000 |
23251.700 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
155.000 |
25.000 |
0.000 |
|
(b) Inventories |
6428.500 |
6909.900 |
5204.000 |
|
(c) Trade receivables |
2641.400 |
2323.000 |
1919.000 |
|
(d) Cash and cash
equivalents |
245.200 |
331.100 |
230.300 |
|
(e) Short-term loans and
advances |
1487.800 |
1436.600 |
2049.200 |
|
(f) Other current assets |
22.000 |
36.300 |
11.800 |
|
Total Current Assets |
10979.900 |
11061.900 |
9414.300 |
|
|
|
|
|
|
TOTAL |
31845.300 |
32868.900 |
32666.000 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
38688.600 |
33352.600 |
27322.800 |
|
|
|
|
Other Income |
162.800 |
224.400 |
201.600 |
|
|
|
|
TOTAL (A) |
38851.400 |
33577.000 |
27524.400 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
19415.400 |
18198.200 |
16254.300 |
|
|
|
|
Purchase of Stock-in-trade |
881.300 |
226.100 |
191.400 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
223.200 |
(8.700) |
(189.800) |
|
|
|
|
Employee Benefits Expenses |
2870.000 |
2378.600 |
2014.900 |
|
|
|
|
Other Expenses |
8022.600 |
7004.700 |
6051.200 |
|
|
|
|
TOTAL (B) |
31412.500 |
27798.900 |
24322.000 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
7438.900 |
5778.100 |
3202.400 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
2103.300 |
2352.800 |
1717.800 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
5335.600 |
3425.300 |
1484.600 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
2684.100 |
2614.400 |
2075.300 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
2651.500 |
810.900 |
(590.700) |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
681.200 |
317.600 |
(153.300) |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS) AFTER
TAX (G-H) (I) |
1970.300 |
493.300 |
(437.400) |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2520.300 |
2027.000 |
2447.000 |
||
|
|
|
|
|
|
||
|
Less |
APPROPRIATIONS |
|
|
|
||
|
|
|
Proposed Dividend |
134.200 |
0.000 |
0.000 |
|
|
|
|
Tax on proposed dividend |
22.800 |
0.000 |
0.000 |
|
|
|
|
Dividend on shares held
through trust |
0.000 |
0.000 |
(17.400) |
|
|
|
BALANCE CARRIED
TO THE B/S |
4333.600 |
2520.300 |
2027.000 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
18536.400 |
16081.700 |
14413.800 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
517.600 |
555.300 |
528.600 |
|
|
|
|
Components and Stores parts |
138.300 |
207.300 |
108.300 |
|
|
|
|
Capital Goods |
4.500 |
122.100 |
1616.400 |
|
|
|
TOTAL IMPORTS |
660.400 |
884.700 |
2253.300 |
||
|
|
|
|
|
|
||
|
|
Earnings/(Loss) Per Share (Rs.) |
6.33 |
1.600 |
(1.590) |
||
QUARTERLY RESULTS
(Rs.
In Millions)
|
Particulars |
|
|
30.06.2014 (Unaudited) |
|
|
|
|
1st
Quarter |
|
Net Sales |
|
|
9132.600 |
|
Total Expenditure |
|
|
7308.200 |
|
PBIDT (Excl OI) |
|
|
1824.400 |
|
Other Income |
|
|
15.900 |
|
Operating Profit |
|
|
1840.300 |
|
Interest |
|
|
581.400 |
|
Exceptional Items |
|
|
0.000 |
|
PBDT |
|
|
1258.900 |
|
Depreciation |
|
|
808.500 |
|
Profit Before Tax |
|
|
450.400 |
|
Tax |
|
|
127.500 |
|
Profit After Tax |
|
|
322.900 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
5.07 |
1.47 |
(1.59) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.85 |
2.43 |
(2.16) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.71 |
2.54 |
(1.84) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28 |
0.11 |
(0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.69 |
2.71 |
3.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.80 |
0.73 |
0.74 |
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 |
3058.400 |
3108.400 |
3110.900 |
|
Reserves & Surplus |
3425.800 |
3954.300 |
5767.900 |
|
Money received against share
warrants |
21.300 |
0.000 |
430.000 |
|
Net
worth |
6505.500 |
7062.700 |
9308.800 |
|
|
|
|
|
|
long-term borrowings |
12725.700 |
9491.800 |
7658.600 |
|
Short term borrowings |
7356.500 |
9673.600 |
8038.800 |
|
Total
borrowings |
20082.200 |
19165.400 |
15697.400 |
|
Debt/Equity
ratio |
3.087 |
2.714 |
1.686 |
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 |
27,322.800 |
33,352.600 |
38,688.600 |
|
|
|
22.069 |
15.999 |
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
|
27,322.800 |
33,352.600 |
38,688.600 |
|
Profit |
(437.400) |
493.300 |
1,970.300 |
|
|
(1.60%) |
1.48% |
5.09% |
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 |
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 |
---------- |
|
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 |
No |
MANAGEMENT DISCUSSION AND ANALYSIS
ECONOMIC OVERVIEW
GLOBAL ECONOMIC OUTLOOK
The global economy experienced subdued growth for yet
another year in 2013. As per the World Economic Outlook (January 2014), global growth is projected to
strengthen from 3% in 2013 to 3.6% in 2014 and 3.9% in 2015. In advanced
economies, growth is expected to increase to about 2.25% in 2014-15, an improvement
of about 1 percentage point over 2013. This economic growth will be strongest
in the United States at about 2.75% and in the eurozone it is expected to be
varied but positive.
In emerging markets and developing economies,
growth is projected to pick up gradually from 4.7% in 2013 to about 5% in 2014
and 5.25% in 2015. It is expected to be catalysed by stronger external demand
from advanced economies, but tighter financial conditions could dampen domestic
demand growth. In China, growth is projected to remain at about 7.5% in 2014 as
the authorities seek to rein in credit and advance reforms while ensuring a
gradual transition to a more balanced and sustainable growth path.
While output gaps remain large, the monetary policy
stance should stay accommodative to usher in fiscal consolidation. In emerging
market economies, vulnerabilities appear mostly localised. The strengthening of
the recovery from the recession in the advanced economies is a welcome
development. But growth remains uneven globally, and more policy reformulations
are needed to fully restore confidence, ensure robust growth, and lower
downside risk (Source: IMF, World
Economic Outlook, and April
2014)
INDIAN
ECONOMY
The Indian economy experienced a sustained slowdown
during the year under review on the back of global contractionary headwinds,
domestic macroeconomic imbalances and fiscal policy reversals. GDP growth in
2013-14 was estimated at 4.7% compared to 4.5% in 2012-13 (Source: CSO). During the year,
consumer spending remained muted, discounts prevailed, profits declined and
brands weakened.
BUSINESS OVERVIEW
Trident Limited is the flagship company of the
Punjab headquartered conglomerate Trident Group, having a turnover of Rs.38,689 million. Trident manufactures textile products
(terry towel, cotton yarn, blended yarn, among others), paper, chemical and
energy. Trident with its planned expansions is strategically poised to become
one of the biggest and most renowned home textiles manufacturers globally. It
has already achieved the milestone of being the largest manufacturer of terry
towels in the world after commissioning of its new plant in Budni, Madhya
Pradesh. Trident has a customer base spread across the world and derives 48% of
its revenues from exports.
Large-scale operations, continuous expansions,
business excellence and global presence have given Trident a sustainable
competitive advantage in the industry.
FINANCIAL PERFORMANCE REVIEW
FY14 was a year of growth and profitability for
Trident Limited.
The Company recorded a 16% growth in revenues, 29%
growth in EBITDA and 300% growth in PAT compared to the previous year. The
Company registered its highest-ever revenues, EBITDA and PAT in FY14.
Following is a detailed analysis of the Company’s
financial performance with respect to operational performance:
Statement of
profit and loss
Revenues: The Company’s total revenues in FY14 were Rs.38,851 million, up by 16% against the previous
financial year’s total revenues of Rs.33,577
million. The growth was primarily led by sales of more value-added and branded
products, more exports following the rupee depreciating against the dollar,
stable raw material prices and decrease in costs.
Segmental
revenues:
The Company’s total revenues comprised 46% from the
yarn segment, which contribute Rs.19,785
million with a y-o-y growth rate of 18%. Home textiles contributed around 34%
i.e. Rs.14,469 million to the total revenue with a y-o-y
growth rate of 14%. The paper and chemicals segment contributed around 20% to
total revenues at H8,356 million with a y-o-y
growth rate of 15%.
AMALGAMATION OF TRIDENT CORPORATION LIMITED WITH
THE COMPANY
During the year, the Hon’ble High Court for the
states of Punjab and Haryana at Chandigarh approved the Scheme of Amalgamation
of Trident Corporation Limited with the Company vide its Order dated March 14,
2014. Accordingly, the Scheme has been implemented and Trident Corporation
Limited has been amalgamated with the Company w.e.f. April 1, 2014, the
Appointed Date.
OUTLOOK
India is the fastest growing global market for
paper and presents an exciting scenario; paper consumption is poised for a big
leap forward in sync with economic growth. The demand in this industry will be
governed by price, quality and brand.
Trident has a natural cost advantage over wood
pulp-based papers. This advantage, along with eco-friendly positioning and
superior products, has helped Trident to improve realisations and sales of
branded copier papers. The Company is confident of increasing sales and realisations in the coming
years.
UNAUDITED FINANCIAL RESULTS FOR QUARTER ENDED 30.06.2014
(Rs. In Millions)
|
Particulars |
Quarter Ended ( Unaudited) |
|
|
30.06.2014 |
|
1.
Income from operations |
|
|
a) Net sales/ Income from operation (net of excise duty) |
9004.290 |
|
b) Other operating income |
128.270 |
|
Total
income from Operations(net) |
9132.560 |
|
2.Expenditure |
|
|
a) Cost of material consumed |
5176.310 |
|
b) Purchases of stock in trade |
184.580 |
|
c) Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
(918.140) |
|
d) Employees benefit expenses |
1097.140 |
|
e) Depreciation and amortization expenses |
808.520 |
|
f) Other expenditure |
1768.270 |
|
Total expenses |
8116.680 |
|
3. Profit from operations before other income and
financial costs |
1015.880 |
|
4. Other income |
15.910 |
|
5. Profit from ordinary activities before finance costs |
1031.790 |
|
6. Finance costs |
581.400 |
|
7. Net profit/(loss) from ordinary activities
after finance costs but before exceptional items |
450.390 |
|
8. Exceptional item |
-- |
|
9. Profit from ordinary activities before tax
Expense: |
450.390 |
|
10.Tax expenses |
127.500 |
|
11.Net Profit
/ (Loss) from ordinary activities after tax (9-10) |
322.890 |
|
12.Extraordinary Items (net of tax expense) |
-- |
|
13.Net Profit / (Loss) for the period (11 -12) |
322.890 |
|
14.Paid-up equity share capital (Nominal value Rs.10/- per share) |
4474.390 |
|
15. Reserve excluding
Revaluation Reserves as per balance sheet of previous accounting year |
|
|
ii) Earnings per share (after extraordinary items) |
|
|
(a) Basic |
0.72 |
|
(b) Diluted |
0.68 |
|
|
|
|
|
|
|
A. Particulars of shareholding |
|
|
1. Public Shareholding |
|
|
- Number of shares |
139137006 |
|
- Percentage of shareholding |
31.10 |
|
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) |
Nil |
|
Percentage of shares (as a % of total share capital of the
company) |
Nil |
|
|
|
|
b) Non Encumbered |
|
|
Number of shares |
308301706 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
100.00 |
|
Percentage of shares (as a % of total share capital of the
company) |
68.90 |
|
|
|
|
|
|
|
B.
Investor Complaints |
|
|
Pending at the beginning of the quarter |
-- |
|
Receiving during the quarter |
Nil |
|
Disposed of during the quarter |
Nil |
|
Remaining unreserved at the end of the quarter |
-- |
UNAUDITED SEGMENT WIE
REVENUE, RESULTS AND CAPITAL EMPLOYED
(Rs. In
Millions)
|
Particulars |
Year
Ended (
Unaudited) |
|
|
31.03.2014 |
|
1.
Segment Revenue |
|
|
a. Textiles |
7157.800 |
|
b. Paper and Chemicals |
1967.630 |
|
c. Others |
2.530 |
|
d. Unallocated |
5.440 |
|
Total |
9133.400 |
|
Less : Inter Segment Revenue |
0.840 |
|
Net
Sales |
9132.560 |
|
|
|
|
2.
Segment Result (Profit
before Interest and Tax) |
|
|
a. Textiles |
781.410 |
|
b. Paper and Chemicals |
404.500 |
|
c. Others |
(0.790) |
|
Total |
1185.120 |
|
|
|
|
Less
: (i) Interest |
581.400 |
|
(ii) Other un-allocable
expenditure net off un-allocable income. |
153.300 |
|
Profit
before Tax |
450.390 |
|
|
|
|
3.
Capital Employed # |
|
|
a. Textiles |
34304.620 |
|
b. Paper and Chemicals |
4522.810 |
|
c. Others |
974.500 |
|
d. Unallocated |
353.700 |
|
Total |
40155.630 |
|
# Includes Capital Work in
Progress |
2249.780 |
NOTES:
1. The
above results have been reviewed by the Audit Committee and approved by the Board
of Directors in its meeting held on August 6, 2014. The Limited Review as
required under Clause 41 of the Listing Agreement has been completed by the
Statutory Auditors.
2. The
Board of Directors have declared an Interim dividend of Rs 0.30 (3%) per fully
paid up equity share of Rs 10 each payable to those shareholders whose names
appear on the Register of members at the Close of business hours on August 18,
2014 (Record date). The said Interim dividend will be credited / dispatched to
the members within 15 days of the record date.
3. Trident
Corporation Limited has been amalgamated with the Company with effect from the
appointed date i.e. April 1, 2014 in terms of Scheme of Amalgamation sanctioned
by Hon’ble Punjab and Haryana High Court at Chandigarh vide its Order dated
March 14, 2014. The undertaking of Trident Corporation Limited stands
transferred to and vested in the Company. As the current quarter figures are of
merged entity, these are not comparable with previous financial period figures.
4. In terms
of the aforesaid Scheme of Amalgamation, the Company has allotted 136,352,000
equity shares on May 15, 2014 to the shareholders of erstwhile Trident
Corporation Limited. Consequent to this allotment, the Paid-up Equity Share
Capital of the Company has increased to Rs. 4,474,387,120.
5. Subsequent
to quarter end, The Company has allotted 655,095 equity shares to the Employees
of the Company on July 3, 2014 pursuant to exercise of options in terms of
Trident Employee Stock Options Plan, 2007. Consequent to this allotment, the
Paid-up Equity Share Capital of the Company stands increased to Rs
4,480,938,070. The promoters’ holding and public holding after this allotment
stands at 68.80% and 31.20% respectively.
6. On a
review carried out on the basis of factors detailed in Accounting standard (AS)
- 17 "Segment Reporting", "Yarn" and "Terry
Towel" business segments have been combined into one segment namely
"Textiles".
7. Pursuant
to the Companies Act, 2013 (Act), the Company, in terms of Schedule II to the
Act, has decided to account for depreciation on the basis of useful life
determined by an independent value. Consequent thereto, the depreciation charge
for the current quarter is lower by Rs.178 lacs.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10519193 |
26/08/2014 |
394,000,000.00 |
IDBI
TRUSTEESHIP SERVICES LIMITED |
ASIAN
BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA -
400001, INDIA |
C20006730 |
|
2 |
10504589 |
05/06/2014 |
700,000,000.00 |
PUNJAB
NATIONAL BANK |
LARGE
CORPORATE BRANCH, BHAGWATI TOWERS, R K ROAD |
C07705288 |
|
3 |
10496504 |
30/04/2014 |
1,500,000,000.00 |
IFCI
LIMITED |
IFCI
TOWER, 61, NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA |
C03570934 |
|
4 |
10484989 |
14/03/2014 |
1,250,000,000.00 |
BANK
OF BARODA |
CORPORATE
FINANCIAL SERVICES BRANCH, BANK OF BARODA BUILDING, 16, SANSAD MARG, NEW
DELHI, DELHI - 110001, INDIA |
C00537910 |
|
5 |
10483884 |
21/03/2014
* |
1,500,000,000.00 |
IFCI
LIMITED |
IFCI
TOWER, 61, NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA |
C00225979 |
|
6 |
10477761 |
11/02/2014 |
112,500,000.00 |
EXPORT-IMPORT
BANK OF INDIA |
CENTRE
ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI,
MAHARASHTRA - 400005, INDIA |
B96437322 |
|
7 |
10481895 |
23/01/2014 |
250,000,000.00 |
YES
BANK LIMITED |
9TH
FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. ANNIE BESANT ROAD, WORLI,,
MUMBAI, MAHARASHTRA - |
B98233117 |
|
8 |
10463367 |
05/12/2013 |
750,000,000.00 |
BANK
OF INDIA |
579-R,
1ST FLOOR, MODEL TOWN, LUDHIANA, PUNJAB - 141002, INDIA |
B90795238 |
|
9 |
10458863 |
07/11/2013 |
2,750,000,000.00 |
IDBI
TRUSTEESHIP SERVICES LIMITED |
ASIAN
BLDG., GROUND FLOOR, 17, R.KAMANI MARG,, BALLARD ESTATE,, MUMBAI, MAHARASHTRA
- 400001, INDIA |
B89019194 |
|
10 |
10462810 |
05/11/2013 |
1,850,000,000.00 |
CANARA
BANK |
BHARAT
NAGAR CHOWK, LUDHIANA, PUNJAB - 141001, INDIA |
B90594326 |
|
11 |
10460873 |
26/10/2013 |
750,000,000.00 |
ORIENTAL
BANK OF COMMERCE |
OVERSEAS
BRANCH, JANDU TOWER, G.T. ROAD, MILLER GANJ, LUDHIANA, PUNJAB - 141003, INDIA |
B89793038 |
|
12 |
10459515 |
25/10/2013 |
1,500,000,000.00 |
PUNJAB
NATIONAL BANK |
LARGE
CORPORATE BRANCH, LUDHIANA, PUNJAB - 141003, INDIA |
B89256911 |
|
13 |
10459698 |
22/10/2013 |
1,000,000,000.00 |
STATE
BANK OF BIKANER & JAIPUR |
OPPOSITE
MILITARY CAMP, G.T. ROAD LUDHIANA, LUDHIANA, PUNJAB - 141003, INDIA |
B89341093 |
|
14 |
10459888 |
22/10/2013 |
1,250,000,000.00 |
ALLAHABAD
BANK |
INDUSTRIAL
FINANCE BRANCH, CHEEMA CHOWK, LUDHIANA |
B89414023 |
|
15 |
10459510 |
21/10/2013 |
1,900,000,000.00 |
STATE
BANK OF PATIALA |
COMMERCIAL
BRANCH,, MILLER GANJ, LUDHIANA, PUNJAB - 141003, INDIA |
B89255905 |
|
16 |
10456722 |
15/10/2013 |
394,000,000.00 |
CORPORATION
BANK |
NEW
LAJPAT NAGAR, PAKHOWAL ROAD, LUDHIANA, PUNJAB |
B88199021 |
|
17 |
10455749 |
27/09/2013 |
1,000,000,000.00 |
CENTRAL
BANK OF INDIA |
MID
CORPORATE BRANCH, 369, R K ROAD, LUDHIANA, PUNJAB - 141003, INDIA |
B87826889 |
|
18 |
10458868 |
24/09/2013 |
1,250,000,000.00 |
STATE
BANK OF INDIA |
INDUSTRIAL
FINANCE BRANCH, GOLDEN TOWER, LUDHIANA, PUNJAB - 141003, INDIA |
B89020499 |
|
19 |
10417693 |
01/04/2013 |
300,000,000.00 |
ALLAHABAD
BANK |
INDUSTRIAL
FINANCE BRANCH, 17, PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA |
B72582000 |
|
20 |
10422267 |
31/03/2013 |
300,000,000.00 |
ORIENTAL
BANK OF COMMERCE |
E
BLOCK, HARSHA BHAWAN, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
B73897399 |
|
21 |
10413560 |
04/03/2013 |
750,000,000.00 |
CENTRAL BANK OF
INDIA |
MID CORPORATE FINANCE
BRANCH,, 369, R. K. ROAD, LUDHIANA, PUNJAB - 141003, INDIA |
B71379192 |
|
22 |
10409550 |
13/02/2013 |
500,000,000.00 |
INDIAN BANK |
G-41,, CONNAUGHT
CIRCUS, NEW DELHI, DELHI - 110001, INDIA |
B69989622 |
|
23 |
10407980 |
12/02/2013 |
500,000,000.00 |
STATE BANK OF
INDIA |
IFB,, LUDHIANA,
PUNJAB - 141003, INDIA |
B69608644 |
|
24 |
10403464 |
22/01/2013 |
400,000,000.00 |
CORPORATION BANK |
PAKHOWAL ROAD,
LUDHIANA, PUNJAB - 141001, INDIA |
B68306810 |
|
25 |
10401071 |
30/04/2014 * |
155,000,000.00 |
STATE BANK OF
PATIALA |
COMMERCIAL
BRANCH, G.T. ROAD, MILLER GANJ, LUDHIANA, PUNJAB - 141003, INDIA |
C04302360 |
|
26 |
10367915 |
28/07/2012 |
13,510,000,000.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
ASIAN BLDG., GROUND
FLOOR, 17, R.KAMANI MARG,, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001,
INDIA |
B44648871 |
|
27 |
10350317 |
30/04/2014 * |
500,000,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL
FINANCE BRANCH, GOLDEN TOWER, DHOLEWAL |
C03945789 |
|
28 |
10349840 |
30/04/2014 * |
500,000,000.00 |
STATE BANK OF
TRAVANCORE |
COMMERCIAL
BRANCH, K G MARG, NEW DELHI, DELHI - 110001, INDIA |
C04171633 |
|
29 |
10347378 |
30/04/2014 * |
500,000,000.00 |
STATE BANK OF
HYDERABAD |
SONA COMPLEX, G
T ROAD, MILLER GANJ, LUDHIANA, PUNJAB - 141003, INDIA |
C03619731 |
|
30 |
10324724 |
17/12/2011 |
1,010,000,000.00 |
PUNJAB NATIONAL
BANK |
LARGE CORPORATE
BRANCH, BHAGWATI TOWER, RK ROAD, |
B28410520 |
|
31 |
10320847 |
19/11/2011 |
500,000,000.00 |
STATE
BANK OF HYDERABAD |
COMMERCIAL
BRANCH, 74, JANPATH, NEW DELHI, DELHI - 110001, INDIA |
B26707505 |
|
32 |
10321029 |
19/11/2011 |
1,500,000,000.00 |
BANK
OF INDIA |
PTI
BUILDING, 4, PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA |
B26791897 |
|
33 |
10317423 |
30/04/2014
* |
450,000,000.00 |
STATE
BANK OF PATIALA |
COMMERCIAL
BRANCH, G.T. ROAD, MILLER GANJ, LUDHIANA, PUNJAB - 141003, INDIA |
C04309761 |
|
34 |
10317939 |
24/10/2011 |
2,000,000,000.00 |
CORPORATION
BANK |
FEROZE
GANDHI MARKET, LUDHIANA, PUNJAB - 141001, INDIA |
B25412784 |
|
35 |
10317419 |
24/10/2011 |
2,000,000,000.00 |
STATE
BANK OF PATIALA |
COMMERCIAL
BRANCH, G.T.ROAD, MILLER GANJ, LUDHIANA, PUNJAB - 141003, INDIA |
B25216037 |
|
36 |
10317138 |
21/10/2011 |
750,000,000.00 |
STATE
BANK OF MYSORE |
ADDRESS
NO. 3,4 & 5, DDA BUILDING, NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA |
B25114281 |
|
37 |
10317162 |
21/10/2011 |
2,000,000,000.00 |
INDIAN
BANK |
NEW
DELHI MAIN BRANCH, G-41, CONNAUGHT CIRCUS, NEW DELHI, DELHI - 110001, INDIA |
B25122771 |
|
38 |
10317164 |
21/10/2011 |
750,000,000.00 |
ORIENTAL
BANK OF COMMERCE |
89,
HEMKUND CHAMBER, NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA |
B25123746 |
|
39 |
10317167 |
21/10/2011 |
1,000,000,000.00 |
SYNDICATE
BANK |
FIRST
FLOOR, SAROJINI HOUSE, 6 BHAGWAN DASS ROAD, NEW DELHI, DELHI - 110001, INDIA |
B25124637 |
|
40 |
10317224 |
21/10/2011 |
1,250,000,000.00 |
ALLAHBAD
BANK |
INDUSTRIAL
FINANCE BRANCH, FIRST FLOOR, 17, PARLIAMENT STREET, NEW DELHI, DELHI -
110001, INDIA |
B25143850 |
|
41 |
10317228 |
21/10/2011 |
750,000,000.00 |
DENA
BANK |
CORPORATE
BUSINESS BRANCH, E-13/29, GROUND FLOOR, HARSHA BHAWAN,, NEW DELHI, DELHI -
110001, INDIA |
B25144528 |
|
42 |
10314147 |
27/04/2012
* |
435,500,000.00 |
EXPORT-IMPORT
BANK OF INDIA |
CENTER
ONE BUILDING, FLOOR - 21,, WORLD TRADE CENTER COMPLEX, CURRE PARADE,, MUMBAI,
MAHARASHTRA - |
B39775739 |
|
43 |
10298475 |
30/04/2014
* |
13,500,000,000.00 |
STATE
BANK OF INDIA. SBOP. CANARA BANK. CBOI. CORP |
SBI,
INDUSTRIAL FINANCE BRANCH, GOLDEN TOWER, DHOLEWAL CHOWK, LUDHIANA, PUNJAB -
141003, INDIA |
C03942711 |
|
44 |
10295064 |
30/04/2014
* |
550,000,000.00 |
CORPORATION
BANK |
FEROZE
GANDHI MARKET, LUDHIANA, PUNJAB - 141001, INDIA |
C03956182 |
|
45 |
10273950 |
30/04/2014
* |
100,000,000.00 |
BANK
OF INDIA |
LUDHIANA
MID CORPORATE BRANCH, 579-R, 1ST FLOOR, |
C04232922 |
|
46 |
10271947 |
30/04/2014
* |
300,000,000.00 |
STATE
BANK OF PATIALA |
COMMERCIAL
BRANCH, G.T. ROAD, MILLER GANJ, LUDHIANA, PUNJAB - 141003, INDIA |
C04308292 |
|
47 |
10268637 |
30/04/2014
* |
250,000,000.00 |
STATE
BANK OF HYDERABAD |
SONA
COMPLEX, G T ROAD, MILLER GANJ, LUDHIANA, PUNJAB - 141003, INDIA |
C03675014 |
|
48 |
10268605 |
30/04/2014
* |
300,000,000.00 |
ALLAHABAD
BANK |
IIFB,
CHEEMA CHOWK, 165, INDUSTRIAL AREA A, LUDHIANA, PUNJAB - 141003, INDIA |
C03581436 |
|
49 |
10270186 |
30/04/2014
* |
270,000,000.00 |
CORPORATION
BANK |
FEROZE
GANDHI MARKET, LUDHIANA, PUNJAB - 141001, INDIA |
C03957404 |
|
50 |
10269355 |
30/04/2014
* |
200,000,000.00 |
PUNJAB
NATIONAL BANK |
LARGE
CORPORATE BRANCH, BHAGWATI TOWERS, R K ROAD, CHEEMA CHOWK, LUDHIANA, PUNJAB -
141003, INDIA |
C03730272 |
|
51 |
10262704 |
30/04/2014
* |
500,000,000.00 |
CANARA
BANK |
MID
CORPORATE BRANCH, BHARAT NAGAR CHOWK, LUDHIANA, PUNJAB - 141001, INDIA |
C03755386 |
|
52 |
10263244 |
30/04/2014
* |
1,000,000,000.00 |
STATE
BANK OF INDIA |
INDUSTRIAL
FINANCE BRANCH, GOLDEN TOWER, DHOLEWAL |
C03944709 |
|
53 |
10258423 |
30/04/2014
* |
500,000,000.00 |
INDIAN
BANK |
KALSI
NAGAR BRANCH, LUDHIANA, PUNJAB - 141003, INDIA |
C04080206 |
|
54 |
10254786 |
30/04/2014
* |
500,000,000.00 |
ORIENTAL
BANK OF COMMERCE |
OVERSEAS
BRANCH, JANDU TOWER, G.T. ROAD, MILLER GANJ, LUDHIANA, PUNJAB - 141003, INDIA |
C03914041 |
|
55 |
10234866 |
30/04/2014
* |
412,500,000.00 |
CORPORATION
BANK |
FEROZE
GANDHI MARKET, LUDHIANA, PUNJAB - 141001, INDIA |
C03954989 |
|
56 |
10221516 |
15/03/2014
* |
420,000,000.00 |
IDBI
BANK LIMITED |
INDIAN
RED CROSS SOCIETY BUILDING, 1, RED CROSS R |
C00235317 |
|
57 |
10209973 |
30/04/2014
* |
350,000,000.00 |
INDIAN
OVERSEAS BANK |
SAINIK
REST HOUSE, KACHERI ROAD, LUDHIANA, PUNJAB |
C04222881 |
|
58 |
10189388 |
30/04/2014
* |
450,000,000.00 |
ORIENTAL
BANK OF COMMERCE |
OVERSEAS
BRANCH, JANDU TOWER, G.T. ROAD, MILLER GANJ, LUDHIANA, PUNJAB - 141003, INDIA |
C03910668 |
|
59 |
10152721 |
30/04/2014
* |
500,000,000.00 |
PUNJAB
NATIONAL BANK |
LARGE
CORPORATE BRANCH, BHAGWATI TOWERS, R K ROAD, CHEEMA CHOWK, LUDHIANA, PUNJAB -
141003, INDIA |
C03729779 |
|
60 |
10140657 |
30/04/2014
* |
287,800,000.00 |
PUNJAB
NATIONAL BANK |
LARGE
CORPORATE BRANCH, BHAGWATI TOWERS, R K ROAD, CHEEMA CHOWK, LUDHIANA, PUNJAB -
141003, INDIA |
C03729266 |
|
61 |
10062304 |
30/04/2014
* |
500,000,000.00 |
STATE
BANK OF TRAVANCORE |
COMMERCIAL
BRANCH, K G MARG, NEW DELHI, DELHI - 110001, INDIA |
C04173183 |
|
62 |
10058095 |
30/04/2014
* |
150,000,000.00 |
ORIENTAL
BANK OF COMMERCE |
OVERSEAS
BRANCH, JANDU TOWER, G.T. ROAD, MILLER GANJ, LUDHIANA, PUNJAB - 141003, INDIA |
C03794666 |
|
63 |
10056659 |
30/04/2014
* |
500,000,000.00 |
INDIAN
BANK |
KALSI
NAGAR BRANCH, LUDHIANA, PUNJAB - 141003, INDIA |
C04152922 |
|
64 |
10056237 |
30/04/2014
* |
500,000,000.00 |
PUNJAB
NATIONAL BANK |
LARGE
CORPORATE BRANCH, BHAGWATI TOWERS, R K ROAD, CHEEMA CHOWK, LUDHIANA, PUNJAB -
141003, INDIA |
C03728318 |
|
65 |
10056656 |
30/04/2014
* |
500,000,000.00 |
CANARA
BANK |
MID
CORPORATE BRANCH, BHARAT NAGAR CHOWK, LUDHIANA, PUNJAB - 141001, INDIA |
C03908258 |
|
66 |
10056001 |
30/04/2014
* |
500,000,000.00 |
STATE
BANK OF MYSORE |
CORPORATE
ACCOUNTS BRANCH, DDA BUILDING, NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA |
C04232138 |
|
67 |
10025019 |
30/04/2014
* |
750,000,000.00 |
STATE
BANK OF PATIALA |
COMMERCIAL
BRANCH, G.T. ROAD, MILLER GANJ, LUDHIANA, PUNJAB - 141003, INDIA |
C04309191 |
|
68 |
10023888 |
30/04/2014
* |
500,000,000.00 |
PUNJAB
NATIONAL BANK |
LARGE
CORPORATE BRANCH, BHAGWATI TOWERS, R K ROAD, CHEEMA CHOWK, LUDHIANA, PUNJAB -
141003, INDIA |
C03725991 |
|
69 |
10012050 |
30/04/2014
* |
200,000,000.00 |
SYNDICATE
BANK |
CORPORATE
FINANCE BRANCH, FIRST FLOOR, SAROJINI HOUSE, 6, BHAGWAN DASS ROAD, NEW DELHI,
DELHI - 110001, INDIA |
C04224341 |
|
70 |
80008298 |
30/04/2014
* |
500,000,000.00 |
SYNDICATE
BANK |
CORPORATE
FINANCE BRANCH, FIRST FLOOR, SAROJINI HOUSE, 6, BHAGWAN DASS ROAD, NEW DELHI,
DELHI - 110001, INDIA |
C04225009 |
|
71 |
90180980 |
30/04/2014
* |
1,000,000,000.00 |
STATE
BANK OF PATIALA |
COMMERCIAL
BRANCH, G.T. ROAD, MILLER GANJ, LUDHIANA, PUNJAB - 141003, INDIA |
C04306882 |
|
72 |
90180911 |
30/04/2014
* |
500,000,000.00 |
STATE
BANK OF HYDERABAD |
SONA
COMPLEX, G T ROAD, MILLER GANJ, LUDHIANA, PUNJAB - 141003, INDIA |
C03715877 |
|
73 |
90180901 |
30/04/2014
* |
2,000,000,000.00 |
STATE
BANK OF INDIA |
INDUSTRIAL
FINANCE BRANCH, GOLDEN TOWER, DHOLEWAL |
C03948221 |
|
74 |
90183343 |
30/04/2014
* |
336,400,000.00 |
STATE
BANK OF BIKANER & JAIPUR |
G T ROAD,
LUDHIANA, PUNJAB - 141003, INDIA |
C04501870 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Buildings
·
Plant
and machinery
·
Furniture
and fixtures
·
Office
equipment’s
·
Computers
·
Vehicles
·
Software
PRESS RELEASE:
TRIDENT'S COURT CONVENED MEETING ON JAN 25, 2014
Trident Ltd has informed BSE that a Court Convened Meeting of the Equity Shareholders of the Company scheduled to be held on January 25, 2014 in the matter of proposed amalgamation of Trident Corporation Limited with the Company.
TRIDENT TO INSTALL 1.76 LAKH SPINDLES & 500 LOOMS IN BUDHNI, MP
Trident Ltd has informed BSE regarding a Press Release dated September 07, 2013 titled "Trident on path of becoming one of the Largest Integrated Home Textile Manufacturing Facilities in the World". Trident announced the laying of foundation stone of two spinning units and a sheeting unit in Budhni, MP. The Company will install 1.76 lacs spindles & 500 looms with an investment of Rs 1667 cr which will manufacture around 40,000 TPA of additional cotton yarn of higher count and value added varieties and 50 million meters of sheeting per annum.
TRIDENT ACHIEVES RS. 9133.000
MILLIONS IN REVENUES AND RS. 1840.000 MILLIONS IN EBITDA IN Q1 FY15
Ludhiana/Barnala/Bhopal, August 6, 2014: Trident Limited,
flagship Company of USD 1 billion TridentGroup and leading manufacturer and
exporter of Textiles and Paper products, today announced its financial results for
the quarter ended June 30, 2014.
Financial
Highlights for Q1 FY15
|
Q FY15 |
Q4 FY14 |
Growth % |
Particulars (Rs. In
Millions) |
Q1 FY15 |
Q1 FY14 |
Growth % |
|
9133.000 |
9902.000 |
(7.8) |
Revenues |
9133.000 |
8727.000 |
4.6 |
|
1840.000 |
1540.000 |
19.5 |
EBITDA |
1840.000 |
1943.000 |
(5.3) |
|
202.000 |
156.000 |
460 bps |
EBITDA Margin % |
202.000 |
223.000 |
(212 bps) |
|
1032.000 |
900.000 |
14.7 |
EBIT |
1032.000 |
1263.000 |
(18.3) |
|
450.000 |
421.000 |
7.1 |
PBT |
450.000 |
669.000 |
(32.7) |
|
323.000 |
293.000 |
10.3 |
PAT |
323.000 |
442.000 |
(26.9) |
|
6.800 |
9.200 |
(26.1) |
EPS (Diluted and
Non-Annualized) (Rs.) |
6.800 |
14.200 |
(52.1) |
The Board of Directors has declared an Interim dividend of Rs
0.30 (3%) per fully paid up equity share of Rs 10/- each of the Company.
Commenting on the performance, Mr. Rajinder Gupta, Chairman
at Trident Group said:
“The performance during the
quarter is reflective of the progress on several strategic initiatives. The
commissioning of our new Terry Towel facility in Budni is under stabilization.
However, it has started adding to the overall efficiencies and is reflected in
the improved margin profile of this business. The full benefits of these
capacities will be visible from FY16 onwards. In the paper business, our focus
is on improving productivity and operational efficiencies.
While we consolidate operations in the near
term, we are confident of delivering sustained growth through larger capacities
and improved product offerings in the longer term. At the same time, measures
to strengthen our balance sheet will help us contain debt and financial costs
relative to the increasing size of our operation which will deliver enhanced
value to our shareholders.”
Highlights for the quarter ended June 30, 2014
·
In
line with the Company’s long term strategy to become the global home-textiles
leader, the Company integrated its Yarn division with its Terry towel division
during the quarter. The integrated division (“Textiles”) will enable the
Company to draw greater strength from vertical integration by leveraging
business experience, resource utilization and synergy more effectively.
·
The
Company repaid long term loans amounting to Rs. 1054.200 Millions during the
quarter
v
Repayment
of higher cost loans led to a 2% decline in finance costs
v
Outstanding
term debt as on June 30, 2014 stood at Rs. 18806.000 Millions
v
Outstanding
net debt as on June 30, 2014 stood at Rs. 25894.000 Millions
·
Textile
division revenues at Rs. 7158.000 Millions compared to Rs. 6857.000 Millions in
the corresponding quarter, up 4.4%; EBITDA stood at Rs. 1340.000 Millions
compared to Rs. 1458.000 Millions in Q1 FY14.
·
The revenues of Paper and Chemicals division were
higher by 5.6% at Rs. 1968.000 Millions as compared to Rs. 1864.000 Millions in
Q1 FY14; EBITDA increased to Rs. 643.000 Millions vis-à-vis Rs. 584.000
Millions in Q1 FY14.
Segmental Overview
Textiles
·
Topline
growth of 4.4% driven by increase in terry towel sales volume as well as
realizations
v Terry towel sales volume improved by
12.8% while realizations improved by 3.7% backed by greater focus on
value-added products
·
EBITDA
margin in the textiles division stood strong at 18.7%
Paper and Chemicals
·
Topline
growth of 5.6% driven by increase in realizations
v Sales volume decreased by 4.8% while
realizations improved by 10.9%
v Improved realizations resulting from
enhanced product mix towards the copier segment
·
EBITDA
increased to INR 64.3 crore while EBITDA margin improved by 136 bps to 32.7%
Yarn Modernization Project
The company shall undertake a Yarn Modernization Project of its spinning
plants located at Sanghera, Punjab and Budni, Madhya Pradesh to
modernize/upgrade its existing capacities at a total capital outlay of Rs.
1040.000 Millions. The project is expected to be implemented by July 2015.
Also, the company shall undertake an Infrastructure Development Project
including Centre of Excellence, Housing Colony for employees, and Office
Building etc. at a total capital outlay of Rs. 2430.000 Millions. The Project
is expected to be implemented by Oct 2016.
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 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.61.06 |
|
UK Pound |
1 |
Rs.99.55 |
|
Euro |
1 |
Rs.78.57 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
|
51 |
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.