MIRA INFORM REPORT
|
Report No. : |
317214 |
|
Report Date : |
13.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
AMBUJA
CEMENTS LIMITED (w. e. f. 05.04.2007) |
|
|
|
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Formerly Known
As : |
GUJARAT
AMBUJA CEMENTS LIMITED |
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Registered
Office : |
P.O. Ambuja Nagar, Taluka Kodinar, Amreli District,
Junagadh - 362715, Gujarat |
|
Tel. No.: |
91-2795-237000 |
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Country : |
India |
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Financials (as
on) : |
31.12.2014 |
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Date of
Incorporation : |
20.10.1981 |
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Com. Reg. No.: |
04-004717 |
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Capital
Investment / Paid-up Capital : |
Rs.3099.500
Million |
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CIN No.: [Company Identification
No.] |
L26942GJ1981PLC004717 |
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TIN No.: |
Not Available |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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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
: |
Manufacturing and Marketing of Cement. |
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (75) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Matter Converted To SCA/88661 |
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Comments : |
The subject is one of India’s leading cement manufacturers and a part
of Global Conglomerate Holcim Limited, Switzerland. It is a well-established company having strong market position and
fine track record. Management of the company has reported good profitability during the
financial year December 2014. The company possess strong financial risk profile, healthy liquidity
position and strong net worth. Trade relations are fair. Business is active. Payment terms are
reported to be regular and as per commitment. The company can be considered for business dealings with usual
business 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = AAA |
|
Rating Explanation |
Highest degree of safety and carry lowest
credit risk |
|
Date |
January 2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk |
|
Date |
January 2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DENIED
Management Non Co-Operative (Tel No.:91-22-40662002)
LOCATIONS
|
Registered Office : |
P.O. Ambuja Nagar, Taluka Kodinar, Amreli District, Junagadh - 362715,
Gujarat, India |
|
Tel. No.: |
91-2795-237000 |
|
Fax No.: |
91-2795-237000 |
|
E-Mail : |
shares@ambujacement.com |
|
Website : |
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Corporate Office : |
Elegant Business Park, MIDC Cross Road, ‘B’, Off. Andheri-Kurla Road,
Andheri (East), Mumbai – 400059, Maharashtra, India |
|
Tel. No.: |
91-22-40667000 |
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Regional Offices : |
Located At: · Gurgaon · Ahmedabad · Kolkata |
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Integrated Cement Plants : |
Located At:
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Grinding Stations: |
Located At:
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Bulk Cement Terminals / Ports and Terminals : |
Located At:
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DIRECTORS
As on 31.12.2014
|
Name : |
Mr. Suresh Neotia |
|
Designation : |
Chairman |
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|
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|
Name : |
Mr. N S Sekhsaria |
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Designation : |
Chairman |
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Name : |
Mr. Bernard Fontana |
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Designation : |
Vice Chairman |
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Name : |
Mr. Ajay Kapur |
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Designation : |
Managing Director and Chief Executive Officer |
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Name : |
Mr. Bernard Terver |
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Designation : |
Director |
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Name : |
Mr. Nasser Munjee |
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Designation : |
Director |
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|
Name : |
Mr. Rajendra P. Chitale |
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Designation : |
Director |
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|
Name : |
Mr. Shailesh Haribhakti |
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Designation : |
Director |
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|
Name : |
Dr. Omkar Goswami |
|
Designation : |
Director |
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|
Name : |
Mr. Haigreve Kjaitan |
|
Designation : |
Director |
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|
Name : |
Ms. Usha Sangwan (w.e.f. 24.04.2014) |
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Designation : |
Director |
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Name : |
Mr. B.L. Taparia |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Sanjeev Churiwala |
|
Designation : |
Chief Financial Officer |
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|
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|
Name : |
Mr. Rajiv Gandhi |
|
Designation : |
Company Secretary |
SHAREHOLDING PATTERN
As on 31.12.2014
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
|
|
|
|
780308553 |
51.38 |
|
|
780308553 |
51.38 |
|
Total shareholding of Promoter and Promoter Group (A) |
780308553 |
51.38 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
11940610 |
0.79 |
|
|
2068236 |
0.14 |
|
|
137870969 |
9.08 |
|
|
457936550 |
30.15 |
|
|
7910062 |
0.52 |
|
|
7910062 |
0.52 |
|
|
617726427 |
40.68 |
|
|
|
|
|
|
6094461 |
0.40 |
|
|
|
|
|
|
89583547 |
5.90 |
|
|
9320711 |
0.61 |
|
|
15625132 |
1.03 |
|
|
14119941 |
0.93 |
|
|
1432138 |
0.09 |
|
|
12870 |
0.00 |
|
|
60183 |
0.00 |
|
|
120623851 |
7.94 |
|
Total Public shareholding (B) |
738350278 |
48.62 |
|
Total (A)+(B) |
1518658831 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
31086955 |
0.00 |
|
|
31086955 |
0.00 |
|
Total (A)+(B)+(C) |
1549745786 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Marketing of Cement. |
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Products : |
Cement |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by management |
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Bankers : |
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Facilities : |
Note: * Secured by bank guarantee and is repayable on 27th February 2020. |
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Auditors : |
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Name : |
S R Batliboi and Associates Chartered Accountants |
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Cost Auditors : |
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|
Name : |
P. M. Nanabhoy and Company Chartered Accountants |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company |
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Intermediate
Holding Company |
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|
Ultimate Holding
Company |
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Subsidiary |
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Joint Venture |
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Amalgamated with Dirk India Private
Limited (w.e.f. 1st April 2013) erstwhile Step down subsidiary : |
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Fellow Subsidiary : |
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Joint Venture of Fellow Subsidiary : |
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CAPITAL STRUCTURE
As on 31.12.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000000 |
Equity Shares |
Rs.2/- each |
Rs.5000.000 Million |
|
150000000 |
Preference Shares |
Rs.10/- each |
Rs.1500.000 Million |
|
|
Total |
|
Rs.6500.000
Million |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1550072306 |
Equity Shares |
Rs.2/- each |
Rs.3100.200 Million |
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1549745786 |
Equity Shares |
Rs.2/- each |
Rs.3099.500
Million |
a)
Reconciliation of the number of shares
|
Equity Shares |
Number
of Shares |
Rs. In Million |
|
At the beginning of the year |
1545860286 |
3091.700 |
|
Add: Issued against Employee Stock Option Schemes (ESOS) |
3885500 |
7.800 |
|
At the end of the year |
1549745786 |
3099.500 |
a) Rights, preferences and restrictions
attached to equity shares
The Company has one class of equity
shares having a par value of Rs.2 per share. Each shareholder is entitled to one
vote per equity share. The dividend proposed by the Board of Directors is
subject to the approval of the shareholders in the ensuing Annual General
Meeting, except in case of interim dividend. In the event of liquidation of the
Company, the equity shareholders are eligible to receive remaining assets of
the Company, after distribution of all preferential amounts, in proportion to
their shareholding.
b) Equity shares held by holding company,
ultimate holding company and their subsidiaries
|
Equity Shares |
Rs. In Million |
|
i) Holderind Investments Limited, Mauritius (HIL), the holding company 629,638,433 equity shares of Rs.2 each fully paid-up. |
1259.300 |
|
ii) Holcim India Private Limited (HIPL) 150,670,120 equity shares of Rs.2 each fully paid-up |
301.300 |
c)
Details of equity shares held by shareholders
holding more than 5% shares:
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Holderind Investments Limited, Mauritius |
629,638,433 |
40.73% |
|
Holcim India Private Limited |
150,670,120 |
9.75% |
|
Life Insurance Corporation of India |
100,206,061 |
6.47% |
As per the of the Company, including its register of shareholders / members and other declarations received from shareholders regarding beneficial interest, the above shareholding represent both legal and beneficial ownership of shares.
Outstanding employee stock options exercisable into 6,381,625 equity shares of Rs.2 each fully paid up.
Outstanding tradable warrants and right shares kept in abeyance exercisable into 186,690 and 139,830 equity shares of Rs.2 each fully paid-up respectively.
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
3,099.500 |
3,091.700 |
3,084.400 |
|
(b) Reserves & Surplus |
97,933.800 |
91,763.700 |
84,966.200 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
101,033.300 |
94,855.400 |
88,050.600 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
190.900 |
291.500 |
346.300 |
|
(b) Deferred tax liabilities (Net) |
5,890.400 |
5,643.200 |
5,482.500 |
|
(c) Other long term
liabilities |
92.200 |
175.800 |
49.100 |
|
(d) long-term
provisions |
325.700 |
248.000 |
208.900 |
|
Total Non-current
Liabilities (3) |
6,499.200 |
6,358.500 |
6,086.800 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
6,184.900 |
9,745.200 |
9,345.400 |
|
(c) Other
current liabilities |
13,528.900 |
7,923.900 |
6,558.700 |
|
(d) Short-term
provisions |
11,762.200 |
10,762.900 |
13,089.300 |
|
Total Current
Liabilities (4) |
31,476.000 |
28,432.000 |
28,993.400 |
|
|
|
|
|
|
TOTAL |
139,008.500 |
129,645.900 |
123,130.800 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
62,267.800 |
60,621.600 |
58,619.300 |
|
(ii)
Intangible Assets |
3.300 |
3.700 |
4.400 |
|
(iii)
Capital work-in-progress |
6,901.700 |
6,948.800 |
5,201.200 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1,057.300 |
1,045.100 |
1,120.100 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
5,933.200 |
3,205.500 |
2,872.700 |
|
(e) Other
Non-current assets |
2,893.100 |
2,450.800 |
2,549.100 |
|
Total Non-Current
Assets |
79,056.400 |
74,275.500 |
70,366.800 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
20,670.000 |
16,839.400 |
15,438.300 |
|
(b)
Inventories |
8,883.900 |
9,339.400 |
9,839.300 |
|
(c) Trade
receivables |
2,279.800 |
2,315.100 |
2,133.700 |
|
(d) Cash
and cash equivalents |
24,581.200 |
23,410.900 |
22,537.200 |
|
(e)
Short-term loans and advances |
3,083.200 |
2,894.100 |
2,489.800 |
|
(f) Other
current assets |
454.000 |
571.500 |
325.700 |
|
Total
Current Assets |
59,952.100 |
55,370.400 |
52,764.000 |
|
|
|
|
|
|
TOTAL |
139,008.500 |
129,645.900 |
123,130.800 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
99,781.200 |
91,742.600 |
97,303.000 |
|
|
|
Other Income |
4,289.800 |
3,775.100 |
3,488.700 |
|
|
|
TOTAL (A) |
104,071.000 |
95,517.700 |
100,791.700 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of raw materials consumed |
7,942.900 |
6,893.700 |
6,717.600 |
|
|
|
Purchases of Stock-in-Trade |
405.900 |
7.100 |
0.000 |
|
|
|
Changes in inventories of finished goods and work-in-progress |
159.100 |
1,183.300 |
(2,008.300) |
|
|
|
Employee benefits expense |
5,815.800 |
5,021.700 |
4,785.100 |
|
|
|
Power and fuel |
22,652.200 |
30,629.200 |
23,290.700 |
|
|
|
Freight and forwarding |
24,388.900 |
22,877.300 |
22,758.500 |
|
|
|
Other expenses |
19,212.400 |
18,530.200 |
17,096.800 |
|
|
|
Self-consumption of cement |
(80.400) |
(69.300) |
(67.100) |
|
|
|
Exceptional items |
0.000 |
(248.200) |
2,791.300 |
|
|
|
TOTAL (B) |
80,496.800 |
84,825.000 |
75,364.600 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
23,574.200 |
10,692.700 |
25,427.100 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
644.800 |
650.800 |
756.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
22,929.400 |
10,041.900 |
24,670.500 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5,095.300 |
4,900.700 |
5,652.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
17,834.100 |
5,141.200 |
19,018.300 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2,870.500 |
2,195.500 |
6,047.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
14,963.600 |
2,945.700 |
12,970.600 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
12,306.900 |
7,370.100 |
2,847.500 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim equity dividend |
2,786.900 |
2,162.500 |
2,155.200 |
|
|
|
Tax on interim equity dividend |
473.600 |
367.500 |
349.600 |
|
|
|
Proposed final equity dividend |
4,959.200 |
3,400.900 |
3,392.800 |
|
|
|
Tax on proposed final equity dividend |
991.500 |
578.000 |
550.400 |
|
|
|
Transfer to general reserve |
1,500.000 |
1,500.000 |
2,000.000 |
|
|
BALANCE CARRIED
TO THE B/S |
16,559.300 |
2,306.900 |
7,370.100 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
441.200 |
542.800 |
232.700 |
|
|
|
Royalty |
12.400 |
4.800 |
1.900 |
|
|
|
Interest |
0.000 |
0.100 |
0.000 |
|
|
|
Other Earnings |
49.800 |
37.700 |
94.800 |
|
|
TOTAL EARNINGS |
503.400 |
585.400 |
329.400 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw materials |
504.200 |
231.900 |
389.800 |
|
|
|
Packing material |
0.000 |
0.000 |
26.000 |
|
|
|
Fuels |
3736.300 |
3409.400 |
4859.600 |
|
|
|
Spares |
453.400 |
381.600 |
497.900 |
|
|
|
Capital goods |
717.100 |
1112.900 |
373.100 |
|
|
TOTAL IMPORTS |
5411.000 |
5135.800 |
6146.400 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
9.67 |
8.39 |
8.43 |
|
|
|
Diluted |
9.66 |
8.37 |
8.41 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
15.00 |
3.21 |
13.33 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
23.63 |
11.66 |
26.13 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.61 |
4.23 |
16.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.05 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.90 |
1.95 |
1.82 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Share Capital |
3084.400 |
3091.700 |
3099.500 |
|
Reserves & Surplus |
84966.200 |
91763.700 |
97933.800 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
88050.600 |
94855.400 |
101033.300 |
|
|
|
|
|
|
long-term borrowings |
346.300 |
291.500 |
190.900 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
346.300 |
291.500 |
190.900 |
|
Debt/Equity
ratio |
0.004 |
0.003 |
0.002 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Sales |
97,303.000 |
91,742.600 |
99,781.200 |
|
|
|
(5.715) |
8.762 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Sales
|
97,303.000 |
91,742.600 |
99,781.200 |
|
Profit |
12,970.600 |
2,945.700 |
14,963.600 |
|
|
13.33% |
3.21% |
15.00% |
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 |
No |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOAN:
|
Particulars |
31.12.2014 Rs.
In Million |
31.12.2013 Rs.
In Million |
|
LONG TERM
BORROWINGS |
|
|
|
Sales tax deferment loan** |
132.300 |
232.900 |
|
Total |
132.300 |
232.900 |
Note:
** Sales tax deferment
loan is interest free and payable in 10 annual installments starting from April
2007 to April 2016 of varying amounts from Rs.15.200 Million to Rs.132.300
Million.
AT A GLANCE
(STAND-ALONE RESULTS):
Cement production increased by 2% to reach 21.43 million tonnes from 20.96 million tonnes while clinker production increased to 14.84 million tonnes 4% up from 14.27million tonnes in year 2013.
Domestic cement sales volume recorded increase of 3% at 21.46 million tonnes from 20.94million tonnes in year 2013. Cement exports decreased to 0.08 million tonnes from 0.10million tonnes in year 2013. Clinker sales (including exports) were up at 0.61 million tonnes from 0.56 million tonnes in 2013.
Net sales at Rs.99110.000 Million were 9% up than that of previous year Rs.90790.000 Million. Average sales realisation increased by around 7% at Rs.4475 per tonne against approx Rs.4208 per tonne in 2013.
Total (operating) expenses for the year 2014 increased by 7% over that of year 2013.
The company achieved an absolute EBITDA of Rs.19280.000 Million. This is higher by 16% over the corresponding Rs.16670.000 Million of the year 2013.
Profit before tax at Rs.17830.000 Million was up by 18% over corresponding figure of Rs.15140.000 Million for the year 2013.
Net Profit at Rs.14960.000 Million was up by 16% over corresponding figure of Rs.12950.000 Million for the year 2013.
OUTLOOK
TANGIBLE POLICY
ACTIONS TO FACILITATE ECONOMIC GROWTH
The bigger picture is looking favourable.
To facilitate rapid economic growth it will be necessary to see big ticket structural reforms faster approvals on the supply side with major support of fiscal and monetary policy on the demand side. After nine months plus of the new government in the Centre tangible policy actions are required to facilitate investment and sustained growth.
Medium to long-term economic growth depends on ensuring macroeconomic stability and on creating an enabling environment for the private sector to invest. Fundamentally India’s medium-term growth prospects looks to be promising and a medium-term trend rate overgrowth of about 7% to 8% should be within reach in view of favourable tailwinds both domestic and external supported by active policy push in all three areas of good governance fiscal and monetary management. Despite headwinds of a global slowdown in some parts of the world India has the ability to grow faster and be a leading growth engine inthe near to medium-term.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90209304 |
16/06/2003 |
10,000,000.00 |
Standard Chartered Bank |
19; N. S. Road, Calcutta, West Bengal - 700001, India |
- |
|
2 |
90205358 |
02/06/1998 |
150,000,000.00 |
Uti Bank Limited |
7/1; Lord Sinha Road, Calcutta, West Bengal - 700071, India |
- |
|
3 |
90202636 |
22/04/1993 * |
105,000,000.00 |
Industrial Development Bank Of India |
Idbi Tower; Cuffe Parade, Colaba, Bombay, Maharashtra - 400005, India |
- |
|
4 |
90202597 |
22/04/1993 * |
34,076,000.00 |
The
Industrial Credit & Investment Corpn. Of India |
163; Backbay Reclamation, Bombay, Maharashtra - 400021, India |
- |
|
5 |
90201517 |
20/03/1989 |
7,000,000.00 |
Housing Development Finance Corpn. Limited |
Ramon House, 169; Backbay Reclamation, Bombay, Maharashtra - 400020, India |
- |
|
6 |
90202515 |
20/03/1989 * |
633,000.00 |
Life Insurance Corpn. Of India |
Yogakshema,
Jeevan Bima Marg, Bombay, Maharashtra |
- |
|
7 |
90206997 |
29/03/1990 * |
854,000.00 |
ICICI Limited |
163; Backbay Reclamation, Bombay, Maharashtra - 400020, India |
- |
|
8 |
90202433 |
22/04/1993 * |
2,000,000.00 |
New Bank Of India |
Chandni Chowk, Delhi, Delhi - 110006, India |
- |
|
9 |
90202420 |
22/04/1993 * |
4,000,000.00 |
State Bank Of Mysore |
Antrikash Bhawan, Kasturba Gandhi Marg, New Delhi, Delhi - 110001, India |
- |
|
10 |
90202381 |
20/03/1989 * |
40,000,000.00 |
Industrial Development Bank Of India |
Nariman Bhavan; 227; Vinay K. Shah Marg, Nariman Point, Bombay, Maharashtra - 400021, India |
- |
|
11 |
90206807 |
29/03/1990 * |
23,100,000.00 |
ICICI Limited |
163; Backbay Reclamation, Bombay, Maharashtra - 400020, India |
- |
|
12 |
90202364 |
07/12/1987 * |
37,000,000.00 |
International Finance Corpn. |
1818; H Street, New York, United States Of America |
- |
|
13 |
90202358 |
01/10/1987 * |
12,100,000.00 |
General Insurance Corpn. Of India |
Industrial Assurance Building, Churchgate, Bombay, Maharashtra - 400020, India |
- |
|
14 |
90206745 |
29/03/1990 * |
6,000,000.00 |
New Bank Of India |
Chandni Chowk, Delhi, Delhi - 110006, India |
- |
|
15 |
90202316 |
21/06/1988 * |
224,200,000.00 |
Industrial Development Bank Of India |
Nariman Bhavan; 227; Vinay K.Shah Marg, Nariman Point, Bombay, Maharashtra - 400021, India |
- |
|
16 |
90206726 |
29/03/1990 * |
84,800,000.00 |
Industrial Development Bank Of India |
Idbi Tower; Cuffe Parade, Colaba, Bombay, Maharashtra - 400005, India |
- |
|
17 |
90202304 |
05/02/1986 |
12,100,000.00 |
General Insurance Corpn. Of India |
Industrial Assurance Building, Churchgate, Bombay, Maharashtra - 400020, India |
- |
|
18 |
90202294 |
28/11/1985 |
11,000,000.00 |
The Industrial Credit And Investment Corpn. Of India Limited |
163; Backbay Reclamtion, Bombay, Maharashtra - 400020, India |
- |
|
19 |
90206684 |
29/03/1990 * |
10,000,000.00 |
Unit Trust Of India |
13; Sir Vilhaldas Thackersay Marg, New Marine Lines; P. B. No. 11410, Bombay, Maharashtra – 400020, India |
- |
|
20 |
90202283 |
21/06/1988 * |
70,000,000.00 |
Life Insurance Corpn. Of India |
Yogakshema,
Jeevan Bima Marg, Bombay, Maharashtra |
- |
|
21 |
90206682 |
29/03/1990 * |
70,000,000.00 |
Life Insurance Corpn. Of India |
Yogakshema,
Jeevan Bima Marg, Bombay, Maharashtra |
- |
|
22 |
90206675 |
29/03/1990 * |
37,000,000.00 |
International Finance Corpn. |
1818; H Street, New York, United States Of America |
- |
|
23 |
80007406 |
29/03/1990 * |
196,500,000.00 |
Punjab National Bank |
5, Parliament Street, New Delhi, Delhi - 110001, India |
- |
|
24 |
90202259 |
23/09/1985 * |
80,000,000.00 |
The Industrial Credit And Investmetn Corp. Of India Limited |
163; Backbay Reclamation, Bombay, Maharashtra, India |
- |
|
25 |
90206634 |
29/03/1990 * |
6,000,000.00 |
General Insurance Corpn. Of India |
Industrial Assurance Building, Churchgate, Bombay, Maharashtra - 400020, India |
- |
|
26 |
90202210 |
21/06/1988 * |
140,000,000.00 |
Industrial Development Bank Of India |
Nariman Bhavan; 227; Vinay K.Shah Marg, Nariman POint, Bombay, Maharashtra - 400021, India |
- |
|
27 |
90206613 |
29/03/1990 * |
80,000,000.00 |
Industrial Finance Corpn. Of India |
Bank Of Baroda Building, 16; Sansad Marg, New Delhi, Delhi - 110001, India |
- |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.62.39 |
|
UK Pound |
1 |
Rs.61.91 |
|
Euro |
1 |
Rs.66.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUC |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILITY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
9 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
MO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
75 |
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.