MIRA INFORM REPORT
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Report No. : |
337230 |
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Report Date : |
14.08.2015 |
IDENTIFICATION DETAILS
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Name : |
ADITYA BIRLA NUVO LIMITED (w.e.f. 27.10.2005) |
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Formerly Known As
: |
INDIAN
RAYON AND INDUSTRIES LIMITED (w.e.f. 23.01.1987) INDIAN
RAYON CORPORATION LIMITED |
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Registered
Office : |
Indian Rayon Compound, Veraval - 362266, Gujarat |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
26.09.1956 |
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Com. Reg. No.: |
04-001107 |
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Capital
Investment / Paid-up Capital : |
Rs.1301.400 Million |
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CIN No.: [Company
Identification No.] |
L17199GJ1956PLC001107 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BRD100317C |
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PAN No.: [Permanent
Account No.] |
AAACI1747H |
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Legal Form : |
A Public Limited Liability Company.
The Company’s Shares are Listed on the Stock Exchanges. |
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Line of Business
: |
Subject is engaged in the financial services, telecom,
fashion and lifestyle, IT-Ites, and manufacturing of Agri-business,
Rayon Yarn, Insulators, Carbon Black etc. |
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No. of Employees
: |
20250 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
A (67) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having fine track record. Financial position of the company seems to be sound. The rating takes into consideration company’s diversified risk
profile, marked by its strong market position and healthy operating
efficiencies. Trade relations are reported as fair. Business is active. Payment are
reported to be regular and as per commitment. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
EXTERNAL AGENCY RATING
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Rating Agency Name |
ICRA |
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Rating |
Commercial Paper = A1+ |
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Rating Explanation |
Have very strong degree of safety and carry lowest credit risk. |
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Date |
May, 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
31-03-2013.
INFORMATION DECLINED
Management non-cooperative (91-2876-245711)
LOCATIONS
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Registered Office : |
Indian Rayon Compound, Veraval - 362 266, |
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Tel. No.: |
91-2876-245711/
245735/ 245758/ 248401 |
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Fax No.: |
91-2876-243220 |
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E-Mail : |
irilsecretarial@adityabirla.com |
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Website : |
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Corporate Office : |
A-4, Aditya
Birla Centre, S K Ahire Marg, Worli, Mumbai – 400030, |
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Tel. No.: |
91-22-66525585 |
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Fax No.: |
91-22-66525821
/ 24995821 |
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Head Office : |
91,
Sakhar Bhawan, 9th Floor, 230 Nariman Point, Mumbai – 400021,
Maharashtra |
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Tel. No.: |
91-22-22045004 |
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Fax No.: |
91-22-22043686 |
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E-Mail : |
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Branch Office : |
Plot No.5B, Regent Gateway, Doddanakundi Village, Bangalore – 560048, Karnataka, India |
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Tel No. |
91-80-67271600 |
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Fax No.: |
91-80-67271616 |
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Unit Indian Rayon (Rayon Division): |
Ahura Centre, B-Wing, Mahakali Caves Road, Andheri (East), Mumbai - 400093, Maharashtra, India |
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Tel No.: |
91-22-29267931 |
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Fax No.: |
91-22-29267945 |
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Factory 1: |
GARMENTS DIVISION: Madura
Garments M G House,
Plot No. 5B, Doddanekkundi Industrial Area, 1 Stage, Krishnaraja Puram Hobli,
Brookefields, Bangalore - 560048, Karnataka, India |
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Tel No. |
91-80-67271600 |
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Fax No.: |
91-80-67272626 |
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E mail: |
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Factory 2: |
RAYON DIVISION Indian
Rayon Division Veraval
- 362266, Gujarat, |
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Tel No. |
91-2876-245711/
248401 |
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Fax No.: |
91-2876-243220 |
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E mail: |
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Factory 3: |
CARBON BLACK DIVISIONS: Hi-Tech
Carbon Murdhwa
Industrial Area, P. O. Renukoot, District Sonbhadra - 231217, |
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Tel No. |
91-5446-252387
to 391 |
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Fax No.: |
91-5446-252502/
252858 |
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E mail: |
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Factory 4: |
Argon Gas Plant: Rajashree
Gases IGFL
Complex, P. O. Jagdishpur Industrial Area, District Sultanpur - 227817, |
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Tel No. |
91-5361-270032
to 38 |
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Fax No.: |
91-5361-270595/
270165/ 270172 |
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E mail: |
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Factory 5: |
HITECH CARBON, GUMMIDIPOONDI K-16,
Phase II, SIPCOT Industrial Complex, Gummidipoondi, District Tiruvallur –
601201, Tamilnadu, |
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Tel No. |
91-4119-223233
to 36 |
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Fax No.: |
91-4119-223129/
223116 |
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E mail: |
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Factory 6: |
Textile Plants: Jaya Shree Textiles P.
O. Prabhasnagar, District Hooghly - 712249, West |
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Tel No. |
91-33-26721146/
26001200 |
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Fax No.: |
91-33-26721683/
26722626 |
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E mail: |
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Factory 7: |
Rajashree
Syntex P.
O. Tantigaria, District Midnapur Paschim - 721102, West Bengal, India |
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Tel No. |
91-3222-263131/
275820/ 263964 |
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Fax No.: |
91-3222-275528 |
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E mail: |
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Factory 8: |
Other Division: Aditya Birla Insulator (Domestic
Marketing) P.
O. Meghasar Taluka Halol, District Panchmahal - 389330, Gujarat, |
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Tel No. |
91-2676-221002 |
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Fax No.: |
91-2676-223375 |
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E mail: |
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Factory 9: |
Fertilizer Plant : P.O.
Jagdishpur Industrial Area, District Sultanpur - 227817, |
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Tel No. |
91-5361-270032-38 |
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Fax No.: |
91-5361-270165/
270595 |
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E mail: |
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Factory 10 : |
Financial Services Division Appejay,
2nd Floor, Shahhid Bhagat Singh Road, Fort, Mumbai - 400001,
Maharashtra, India |
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Tel No. |
91-22-22880660 |
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Fax No.: |
91-22-22881088 |
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E mail: |
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Factory 11: |
Insulator Plants P.O.
Meghasar, Taluka: Halol, District Panchmahal - 389330, |
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Tel No. |
91-2676-221002 |
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Fax No.: |
91-2676-223375 |
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E mail: |
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Factory 12: |
Aditya Birla Insulators, Rishra P.O.
Prabhas Nagarl, Rishra, District Hoogly S- 712249, West |
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Tel No. |
91-33-26723535 |
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Fax No.: |
91-33-26722705 |
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E mail: |
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Factory 13 : |
Hi-Tech Carbon, Patalganga Village: Lohop,
Talavali, Patalganga, Taluka: Khalapur, District Raigad - 410207, |
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Website : |
DIRECTORS
As on 31.03.2014
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Name : |
Mr. Kumar Mangalam Birla |
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Designation : |
Non-Executive Chairman |
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Date of Birth/Age : |
14.06.1967 |
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Qualification : |
B.Com, A.C.A, M.B.A (London) |
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Date of Appointment : |
23.09.1992 |
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Name : |
Mrs. Rajashree Birla |
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Designation : |
Non-Executive Director |
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Date of Birth/Age : |
15.09.1945 |
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Qualification : |
B.A. |
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Expertise in specific Functional Area
: |
Industrialist |
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Date of Appointment : |
14.03.1996 |
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Other Directorship : |
·
Grasim
Industries Limited ·
Hindalco
Industries Limited ·
Idea
Cellular Limited ·
Essel
Mining and Industries Limited ·
Aditya
Birla Health Services Limited ·
UltraTech
Cement Limited |
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Name : |
Mr. Lalit Naik |
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Designation
: |
Deputy Managing Director |
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Date of Birth/Age : |
18.10.1961 |
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Qualification : |
IIT (Kanpur), IIM |
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Expertise in specific Functional Area
: |
Business Executive |
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Date of Appointment : |
01.01.2013 |
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Other Directorship : |
·
Aditya
Birla Chemicals (India) Limited ·
TANFAC
Industries Limited ·
Aditya
Birla Science and Technology Limited |
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Name : |
Mr. Sushil Agarwal |
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Designation : |
Whole-Time Director and Chief Financial Officer |
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Date of Birth/Age : |
13.06.1963 |
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Qualification : |
M.Com., C.A |
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Expertise in specific Functional Area
: |
Business
Executive |
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Date of Appointment : |
01.06.2011 |
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Other Directorship : |
·
ABNL
Investment Limited ·
Aditya
Birla Insurance Brokers Limited ·
Aditya
Birla Money Mart Limited ·
Aditya
Birla Power Company Limited ·
BGH
Exim Limited ·
Pantaloons
Fashion and Retail Limited |
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Name : |
Dr. Rakesh Jain |
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Designation : |
Managing Director (Upto 30th June, 2014) |
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Name : |
Mr. B. L. Shah |
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Designation : |
Non-Executive Director |
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Date of Birth/Age : |
31.03.1921 |
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Qualification : |
B.Com. |
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Date of Appointment : |
15.04.1975 |
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Other Directorship : |
·
Aditya
Birla Health Services Limited ·
Trapti
Trading and Investments Limited |
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Name : |
Mr. G. P. Gupta |
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Designation : |
Independent Director |
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Date of Birth/Age : |
11.01.1941 |
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Qualification : |
M.Com |
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Expertise in specific Functional Area
: |
Rich experience in the areas of general management, banking, industrial and financial restructuring |
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Date of Appointment : |
27.04.2005 |
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Other Directorship : |
·
Swaraj
Engines Limited ·
Birla
Sun Life Insurance Co. Limited ·
Emkay
Global Financial Services Limited ·
Landmark
Property Development Co. Limited ·
Idea
Cellular Limited ·
Emkay
Investment Managers Limited ·
Dighi
Port Limited ·
Aditya
Birla Retail Limited |
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Name : |
Ms. Tarjani Vakil |
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Designation : |
Independent Director |
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Date of Birth/Age : |
30.10.1936 |
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Qualification : |
M.A. |
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Expertise in specific Functional Area
: |
Former
Chairperson of EXIM Bank and is recognized as one of the distinguished Indian Banker |
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Date of Appointment : |
27.07.2000 |
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Other Directorship : |
·
Birla
Sun Life Insurance Co. Limited ·
Alkyl
Amines Chemical Limited ·
Idea
Cellular Limited |
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Name : |
Mr. P. Murari |
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Designation : |
Independent Director |
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Date of Birth/Age : |
19.08.1934 |
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Qualification : |
M.A. (Economics) |
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Expertise in specific Functional Area
: |
IAS (Retd.) having rich administrative experience |
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Date of Appointment : |
28.01.2000 |
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Other Directorship : |
·
Aban
Offshore Limited ·
Adayar
Gate Hotel Limited ·
Xpro
India Limited ·
HEG
Limited ·
Great
Eastern Energy Corporation Limited ·
Bajaj
Auto Limited ·
Bajaj
Holding and Investment Limited ·
Fortis
Malar Hospital Limited ·
Idea
Cellular Limited ·
Pantaloons
Fashion and Retail Limited |
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Name : |
Mr. S. C. Bhargava |
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Designation : |
Independent Director |
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Date of Birth/Age : |
20.07.1945 |
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Qualification : |
B.Com.
(Hons.), F.C.A. |
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Expertise in specific Functional Area
: |
Ex-Executive Director (Investment) of LIC, having rich experience in investments, treasury management, finance and accounts. |
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Date of Appointment : |
29.04.2004 |
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Other Directorship : |
·
A.
K. Capital Services Limited ·
OTCEI
Securities Limited ·
Escorts
Limited ·
Swaraj
Engines Limited ·
Jaiprakash
Associates Limited ·
Cox
and Kings India Limited ·
Jaiprakash
Power Ventures Limited ·
Asahi
Industries Limited ·
Swaraj
Automotives Limited ·
Industrial
Investment Trust Limited |
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Name : |
Mr. B. R. Gupta |
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Designation : |
Independent Director |
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Date of Birth/Age : |
15.02.1940 |
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Qualification : |
M.A. (English), LL.B., FIIII |
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Expertise in specific Functional Area
: |
Ex-Executive Director (Investments) of LIC, having rich experience as an Investment Consultant |
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Date of Appointment : |
28.01.2000 |
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Other Directorship : |
·
HOV
Services Limited ·
JBF
Petrochemicals Limited |
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Name : |
Mr. Tapasendra Chattopadhyay |
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Designation : |
Independent Director |
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Date of Birth/Age : |
31.03.1951 |
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Qualification : |
M. Sc (Chemistry) |
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Date of Appointment : |
30.05.2011 |
KEY EXECUTIVES
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Name : |
Mrs. Hutokshi Wadia |
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Designation : |
Company Secretary |
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Senior
Management Team : |
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Name : |
Mr. Lalit Naik (w.e.f. 1st July, 2014) |
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Designation : |
Managing Director |
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Name : |
Dr. Rakesh Jain (upto 30th June, 2014) |
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Designation : |
Managing Director |
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Name : |
Mr. Lalit Naik (upto 30th June, 2014) |
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Designation : |
Deputy Managing Director |
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Name : |
Mr. Sushil Agarwal |
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Designation : |
Whole-Time Director and Chief
Financial Officer |
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Aditya Birla Financial Services : |
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Name : |
Mr.
Ajay Srinivasan |
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Designation : |
Chief
Executive Officer |
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Name : |
Mr.
Pankaj Razdan |
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Designation : |
Dy. Chief Executive Officer MD and CEO, Birla Sun Life
Insurance Company Limited |
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TELECOM : |
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Name : |
Mr. Himanshu Kapania |
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Designation : |
Business Head |
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MANUFACTURING: |
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AGRI AND INSULATORS :
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Name : |
Mr.
Lalit Naik |
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Designation : |
Business
Director |
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Name : |
Mr.
Raj Narayanan |
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Designation : |
Chief
Executive Officer |
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Name : |
Dr.
Rakesh Jain |
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Designation : |
Business Director [upto 30th June, 2014] |
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Rayon : |
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Name : |
Mr.
Lalit Naik |
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Designation : |
Business
Director |
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Name : |
Dr.
Bir Kapoor |
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Designation : |
President |
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FASHION AND LIFESTYLE : |
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Name : |
Mr.
Pranab Barua |
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Designation : |
Business
Head (Branded Apparels) |
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Name : |
Mr.
Thomas Varghese |
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Designation : |
Business
Head (Textiles) |
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Name : |
Mr.
Ashish Dikshit |
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Designation : |
Chief
Executive Officer (Madura Fashion and Lifestyle) |
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Name : |
Mr.
Shital Mehta |
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Designation : |
Chief
Executive Officer (Pantaloons Fashion) |
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Name : |
Mr.
S. Krishnamoorthy |
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Designation : |
President - Jaya Shree Textiles |
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IT-ITES (DIVESTED
W.E.F. 9TH MAY, 2014) : |
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Name : |
Dr.
Rakesh Jain |
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Designation : |
Business
Director |
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Name : |
Mr. Deepak Patel |
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Designation : |
Chief Executive Officer |
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Name : |
Mr. Abhishek Kabra |
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Designation : |
Accounts Manager |
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Name : |
Mr. Sarwan Sharma
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Designation : |
Accounts Manager |
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Name : |
Mr. Manan sheth |
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Designation : |
Finance Manager |
SHAREHOLDING PATTERN
As on 30.06.2015
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Category of
Shareholder |
Total No. of
Shares |
% of Shareholder |
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(A) Shareholding of Promoter and Promoter Group |
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|
136203 |
0.11 |
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|
74308494 |
58.52 |
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|
74444697 |
58.63 |
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Total shareholding of Promoter and Promoter Group (A) |
74444697 |
58.63 |
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(B) Public Shareholding |
||
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|
6626357 |
5.22 |
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|
7484821 |
5.89 |
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|
1419172 |
1.12 |
|
|
19310501 |
15.21 |
|
|
6257 |
0.00 |
|
|
6257 |
0.00 |
|
|
34847108 |
27.44 |
|
|
|
|
|
|
3769937 |
2.97 |
|
|
|
|
|
|
11275007 |
8.88 |
|
|
1284994 |
1.01 |
|
|
1355457 |
1.07 |
|
|
377334 |
0.30 |
|
|
950923 |
0.75 |
|
|
1441 |
0.00 |
|
|
25759 |
0.02 |
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|
17685395 |
13.93 |
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Total Public shareholding (B) |
52532503 |
41.37 |
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Total (A)+(B) |
126977200 |
100.00 |
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(C) Shares held by Custodians and against which Depository Receipts
have been issued |
0 |
0.00 |
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|
1425000 |
0.00 |
|
|
1740126 |
0.00 |
|
|
3165126 |
0.00 |
|
Total (A)+(B)+(C) |
130142326 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the financial services, telecom,
fashion and lifestyle, IT-Ites, and manufacturing of Agri-business, Rayon
Yarn, Insulators, Carbon Black etc. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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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 |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
20250 (Approximately) |
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|
Bankers : |
· State Bank of India · Corporation Bank · Standard Chartered Grindlays Bank Limited · United Bank of India · UCO Bank · Canara Bank · Punjab National Bank · Bank of America NT and SA · HDFC Bank Limited · Citibank NIA. · American Express Bank Limited · Central Bank of India · The Hongkong and Shanghai Banking Corporation Limited · Allahabad Bank · State Bank of Saurashtra · Standard Chartered Bank |
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|
Facilities : |
NOTES:
- Effective cost has been calculated with hedged cost in
terms of foreign currency loan and net of interest subsidy in case of TUF
loans. |
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|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name 1 : |
Khimji Kunverji and Company Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
|
|
|
Name 2 : |
S.R. Batliboi and Company LLP Chartered Accountants |
|
|
|
|
Branch Auditors: |
|
|
Name 1 : |
K. S. Aiyar and Company Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
|
|
|
Name 2 : |
Deloitte Haskins and Sells Chartered Accountants |
|
|
|
|
Solicitors : |
|
|
|
|
|
Subsidiaries (As on 31.03.2014) : |
|
|
|
|
|
Joint Ventures (As on 31.03.2014): |
|
|
|
|
|
Associates (As on 31.03.2014) : |
|
CAPITAL STRUCTURE
As on 31.03.2015
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.1301.400
Million
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
175000000 |
Equity Shares |
Rs.10/- each |
Rs.1750.000 Million |
|
500000 |
Redeemable Preference Shares |
Rs.100/- each |
Rs.50.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs.1800.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
130126295 |
Equity Shares |
Rs.10/- each |
Rs.1301.300 Million |
|
10000 |
6% Redeemable Cumulative Preference Shares |
Rs.100/- each |
Rs.1.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs.1302.300
Million |
Issued, Subscribed & Paid-up Capital
:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
130084972 |
Equity Shares |
Rs.10/- each |
Rs.1300.800 Million |
|
10000 |
6% Redeemable Cumulative Preference Shares |
Rs.100/- each |
Rs.1.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs.1301.800
Million |
NOTES:
- Reconciliation
of the number of shares outstanding at the beginning and at the end of the
period
|
Equity Shares |
Equity
Shares |
Preference
Shares |
|
No. of Shares Outstanding at the beginning of the period @ Rs.10/-
each |
120213187 |
10000 |
|
Allotment of Rights Shares kept in abeyance on various dates @ Rs.10/-
each |
19 |
-- |
|
Allotment of Shares on exercise of option by employee under ESOS-2006 |
51766 |
-- |
|
Conversion of Warrants into Equity Shares by the Promoter Group |
9820000 |
-- |
|
No. of Shares Outstanding at the end of the period @ Rs.10/- each |
130084972 |
10000 |
- Term/Right Attached to Equity Shares
The Company has only one class of equity shares having a
par value of Rs.10 per share. Each holder of equity shares is entitled to one
vote per share. The Company declares and pays dividend in Indian rupees. The
dividend proposed by the Board of Directors is subject to the approval of the
shareholders in the Annual General Meeting. In the event of liquidation of the
Company, the holders of equity shares will be entitled to receive remaining
assets of the Company, after distribution to all preferential holders. The
distribution will be in proportion to the number of equity shares held by the
shareholders.
The Board of Directors has recommended Equity Dividend of
Rs.7.00 per share for the year ended 31st March, 2014 (Previous Year: Rs.6.50
per share). The total cash outflows on account of the Equity Dividend would be
Rs.910.600 Million (Previous Year: Rs.781.400 Million) and Dividend
Distribution Tax thereon (Net of Tax Credit on dividend from subsidiary
companies) would Rs.66.700 Million (Previous Year: Rs.Nil).
- Term of Conversion/Redemption of Preference
Shares
In accordance with the Composite Scheme of Arrangement,
10,000 (Previous Year: 10,000) 6% Redeemable Cumulative Preference Shares of
Rs.100/- each, fully paid-up, were issued to preference shareholders (other
than the Company) of Pantaloons Fashion and Retail Limited.
Preference shares carry cumulative dividend @6% p.a. The
Company declares and pays dividend in Indian rupees. The dividend proposed by
the Board of Directors is subject to the approval of the shareholders in the
Annual General Meeting. These preference shares are redeemable by the Company
at any time after completion of one year and on or before completion of five
years from the 1st January, 2010, at the face value. In the event of liquidation
of the Company before conversion/redemption of preference shares, the holders
of Preference Shares will have priority over Equity Shares in the payment of
dividend and repayment of capital.
The Board of Directors has recommended Preference Dividend
of Rs.6.00 per share for the year ended 31st March, 2014 (Previous Year:
Rs.6.00 per share). The total cash outflows on account of the Preference
Dividend would be Rs.0.100 Million (Previous Year: Rs.0.100 Million) and
Dividend Distribution Tax thereon (Net of Tax Credit on dividend from
subsidiary companies) would be Rs.Nil (Previous Year: Rs.Nil). There are no
arrears of Dividend relating to Preference Shares.
- The Company
does not have any Holding Company.
- Shares in the
Company held by each shareholder holding more than 5 per cent shares and
the number of shares held are as under:
EQUITY SHARES
|
Name of
Shareholder |
Number of Shares
|
% holding |
|
IGH Holdings Private Limited |
16352102 |
12.57% |
|
TGS Investment and Trade
Private Limited |
13506736 |
10.38% |
|
Umang Commercial Company
Limited* |
12494935 |
9.60% |
|
Trapti Trading and
Investments Private Limited |
9423935 |
7.24% |
|
Hindalco Industries Limited |
8650412 |
6.65% |
|
Life Insurance Corporation
of India |
7759191 |
5.96% |
|
Turquoise Investment and
Finance Private Limited |
6441092 |
4.95% |
|
Mangalam Services Limited* |
-- |
-- |
*During the year Mangalam Services Limited merged with
Umang Commercial Company Limited.
PREFERENCE
SHARES
|
Name of
Shareholder |
Number of Shares
|
% holding |
|
|
|
|
|
Naman Finance and Investment
Private Limited |
5000 |
50.00% |
|
Infocyber (India) Private
Limited |
5000 |
50.00% |
- Share reserved for issue
under options and contracts, including the terms and amounts:
For details of Shares reserved for issue under the
Employee Stock Options Plan (ESOP) of the Company refer Note: 41.
- There are no Equity and Preference Shares
issued as fully paid-up pursuant to any contract in consideration of other
than cash or bought back during the preceding last five years except issue
of 10,000 6% Redeemable Cumulative Preference Shares of Rs.100 each
pursuant to a Scheme of Composite Arrangement to shareholders of Pantaloons
Fashion and Retail Limited.
- Pursuant to the
provisions of Section 206A of Companies Act, 1956, the issue of following
equity shares are kept in abeyance.
|
Name of
Shareholder |
Number of Shares
|
|
Rights Issue (1994) |
12575 |
|
Bonus Share on Above |
6288 |
|
Rights Issue (2007) |
22460 |
- In the year 1997, the Company had forfeited
4,487 shares held by 299 holders on account of non-payment of call money
with interest on shares issued against each detachable warrant.
- 3,182,052 Equity Shares (Previous Year:
3,182,052) are represented by Global Depository Receipts.
- During the last five years, preceding 31st
March, 2014, there were 80 Bonus Shares (Previous Year: 420 Bonus Shares)
issued out of shares kept in abeyance.
- Figures in brackets
represent the corresponding number of shares for Previous Year.
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1301.400 |
1,301.800 |
1,203.100 |
|
(b) Reserves & Surplus |
83888.500 |
79,775.600 |
65,096.900 |
|
(c) Money received against share
warrants |
0.000 |
0.000 |
2,236.200 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
85189.900 |
81,077.400 |
68,536.200 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
14,804.600 |
13,921.900 |
14,179.100 |
|
(b) Deferred tax liabilities (Net) |
1,063.800 |
878.900 |
1,553.300 |
|
(c) Other long term
liabilities |
1,145.900 |
998.700 |
854.900 |
|
(d) long-term
provisions |
64.900 |
52.200 |
53.600 |
|
Total Non-current
Liabilities (3) |
17,079.200 |
15,851.700 |
16,640.900 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
19,593.700 |
21,340.000 |
20,883.900 |
|
(b) Trade
payables |
17,028.500 |
15,056.200 |
15,262.800 |
|
(c) Other
current liabilities |
4,944.500 |
4,530.900 |
8,929.600 |
|
(d) Short-term
provisions |
2,661.100 |
2,087.800 |
1,902.300 |
|
Total Current
Liabilities (4) |
44,227.800 |
43,014.900 |
46,978.600 |
|
|
|
|
|
|
TOTAL |
146,496.900 |
139,944.000 |
132,155.700 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
18,675.800 |
14,932.300 |
19,134.900 |
|
(ii)
Intangible Assets |
0.000 |
484.500 |
530.400 |
|
(iii)
Capital work-in-progress |
0.000 |
3,065.900 |
2,096.600 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
10.300 |
|
(b) Non-current Investments |
86,949.900 |
79,523.400 |
58,566.600 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1,966.300 |
1,924.000 |
2,863.200 |
|
(e) Other
Non-current assets |
7.400 |
7.800 |
8.100 |
|
Total Non-Current
Assets |
107,599.400 |
99,937.900 |
83,210.100 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
300.000 |
156.500 |
2,780.000 |
|
(b) Inventories |
12,470.000 |
11,037.200 |
13,932.800 |
|
(c) Trade
receivables |
22,511.400 |
20,457.000 |
28,072.600 |
|
(d) Cash
and cash equivalents |
450.500 |
391.300 |
555.200 |
|
(e)
Short-term loans and advances |
2,736.200 |
7,235.500 |
2,897.000 |
|
(f) Other
current assets |
429.400 |
728.600 |
708.000 |
|
Total
Current Assets |
38897.500 |
40,006.100 |
48,945.600 |
|
|
|
|
|
|
TOTAL |
146496.900 |
139,944.000 |
132,155.700 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
89382.600 |
80,203.500 |
97,545.000 |
|
|
|
Other Income |
1715.100 |
3,714.200 |
2,092.500 |
|
|
|
TOTAL (A) |
91097.700 |
83,917.700 |
99,637.500 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost
of Materials Consumed |
33,224.900 |
29,441.200 |
43,275.000 |
|
|
|
Purchase
of Stock-in- |
12,833.100 |
11,913.800 |
16,362.500 |
|
|
|
Changes
in Inventories of Finished Goods, Work-in-Progress and Stock-in-Trade) |
(434.400) |
(2,044.300) |
(123.400) |
|
|
|
Employee
Benefits Expenses |
7,416.000 |
6,386.900 |
5,967.300 |
|
|
|
Power
and Fuel |
8,430.100 |
9,550.000 |
8,685.000 |
|
|
|
Other Expenses |
17,772.100 |
16,212.000 |
14,310.400 |
|
|
|
Exceptional Items |
0.000 |
(240.600) |
0.000 |
|
|
|
TOTAL (B) |
79,241.800 |
71,219.000 |
88,476.800 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
11,855.900 |
12698.700 |
11160.700 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2,633.000 |
2,665.600 |
3,600.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
9,222.900 |
10033.100 |
7560.700 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
1,893.600 |
1,990.200 |
2,191.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
7,329.300 |
8042.900 |
5368.900 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2,052.400 |
1,303.400 |
1,138.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
5,276.900 |
6739.500 |
4230.500 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2225.600 |
1673.400 |
513.300 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
5000.000 |
2000.000 |
|
|
|
Debenture Redemption Reserve |
NA |
209.800 |
288.900 |
|
|
|
Proposed Dividend on Preference Shares |
NA |
0.100 |
0.100 |
|
|
|
Proposed Dividend on Equity Shares |
NA |
910.600 |
781.400 |
|
|
|
Corporate Tax on Dividend |
NA |
66.700 |
0.000 |
|
|
|
Equity Dividend relating to Previous Period |
NA |
0.100 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
2225.600 |
1673.400 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
On Export of Goods (F.O.B. Basis) |
NA |
7480.700 |
8742.100 |
|
|
|
Sale of Certified Emission Reduction |
NA |
34.300 |
91.900 |
|
|
|
Service Charge |
NA |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
NA |
7515.000 |
8834.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
11372.800 |
23754.600 |
|
|
|
Stores & Spares |
NA |
195.100 |
196.200 |
|
|
|
Capital Goods |
NA |
1606.400 |
1055.000 |
|
|
|
Purchase of Finished Goods |
NA |
1141.700 |
7267.600 |
|
|
TOTAL IMPORTS |
NA |
14316.000 |
32273.400 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
40.56 |
54.30 |
37.23 |
|
|
|
Diluted |
40.49 |
53.74 |
36.56 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
2271.800 |
4768.400 |
|
Cash generated from operations |
NA |
5769.900 |
(6659.700) |
|
Net Cash Flow From operations |
NA |
988.000 |
20.000 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT/Sales) |
(%) |
5.95 |
8.40 |
4.34 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
13.37 |
15.83 |
11.44 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.31 |
14.02 |
7.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.10 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.40 |
0.43 |
0.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.88 |
0.93 |
1.04 |
STOCK
PRICES
|
Face Value |
Rs.10/- |
|
Market Value |
Rs.2241.65/- |
FINANCIAL ANALYSIS
[all figures are in
Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
1203.100 |
1301.800 |
1301.400 |
|
Reserves & Surplus |
65096.900 |
79775.600 |
83888.500 |
|
Money received against share
warrants |
2236.200 |
0.000 |
0.000 |
|
Net
worth |
68536.200 |
81077.400 |
85189.900 |
|
|
|
|
|
|
long-term borrowings |
14179.100 |
13921.900 |
14804.600 |
|
Short term borrowings |
20883.900 |
21340.000 |
19593.700 |
|
Total
borrowings |
39831.400 |
37533.700 |
34398.300 |
|
Debt/Equity
ratio |
0.581 |
0.463 |
0.404 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
97545.000 |
80203.500 |
89,382.600 |
|
|
|
(17.778) |
11.445 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
97545.000 |
80203.500 |
89382.600 |
|
Profit |
4230.500 |
6739.500 |
5276.900 |
|
|
4.34% |
8.40% |
5.90% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of establishment |
Yes |
|
2] |
Constitution of the entity -Incorporation
details |
Yes |
|
3] |
Locality of the entity |
Yes |
|
4] |
Premises details |
No |
|
5] |
Buyer visit details |
-- |
|
6] |
Contact numbers |
Yes |
|
7] |
Name of the person contacted |
No |
|
8] |
Designation of contact person |
No |
|
9] |
Promoter’s background |
Yes |
|
10] |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11] |
Pan Card No. of Proprietor / Partners |
No |
|
12] |
Voter Id Card No. of Proprietor / Partners |
No |
|
13] |
Type of business |
Yes |
|
14] |
Line of Business |
Yes |
|
15] |
Export/import details (if applicable) |
No |
|
16] |
No. of employees |
Yes |
|
17] |
Details of sister concerns |
Yes |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
Yes |
|
21] |
Banking facility details |
Yes |
|
22] |
Conduct of the banking account |
-- |
|
23] |
Financials, if provided |
Yes |
|
24] |
Capital in the business |
Yes |
|
25] |
Last accounts filed at ROC, if applicable |
Yes |
|
26] |
Turnover of firm for last three years |
Yes |
|
27] |
Reasons for variation <> 20% |
-- |
|
28] |
Estimation for coming financial year |
No |
|
29] |
Profitability for last three years |
Yes |
|
30] |
Major shareholders, if available |
Yes |
|
31] |
External Agency Rating, if available |
Yes |
|
32] |
Litigations that the firm/promoter
involved in |
-- |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
STANDALONE
UNAUDITED RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2015
(Rs. In Million)
|
Sr. No |
Particulars |
Standalone |
|
|
|
|
Quarter Ended |
|
|
|
|
30.06.2015 |
|
|
1 |
Income From
Operations |
|
|
|
|
a. Net Sales/ Income from Operations (Net of Excise Duty) |
22523.900 |
|
|
|
b. Other Operating Income |
156..000 |
|
|
|
Total Income from
Operations (Net) |
22679.9000 |
|
|
2 |
Expenditure |
|
|
|
|
a. Cost of material Consumed |
8787.400 |
|
|
|
b. Purchase of Stock-in trade |
2502.500 |
|
|
|
c. Changes in inventory of finished Goods, work- in-progress and Stock-in-trade |
497.900 |
|
|
|
d. Employees Benefit Expenses |
1933.300 |
|
|
|
e. Power and Fuel |
1842.300 |
|
|
|
f. Depreciation and Amortisation Expenses |
458.700 |
|
|
|
g. Other expenses |
4629.000 |
|
|
|
Total Expenses |
20651.100 |
|
|
3 |
Profit from
Operations before Other Income, Interest and Exceptional Items |
2028.800 |
|
|
4 |
Other Income |
98.000 |
|
|
5 |
Profit from
ordinary activities before finance cost & exceptional items |
2126.800 |
|
|
6 |
Finance Costs |
706.800 |
|
|
7 |
Profit from
ordinary activities after finance costs & exceptional items |
1420.000 |
|
|
8 |
Exceptional items |
0.000 |
|
|
9 |
Profit before tax |
1420.000 |
|
|
10 |
Tax Expense |
452.600 |
|
|
11 |
Net Profit After
Tax |
967.400 |
|
|
12 |
Paid-up equity share capital (face value of Rs.10 per share) |
1301.400 |
|
|
13 |
Reserves excluding Revaluation Reserve as per balance sheet of previous accounting Year |
- |
|
|
14 |
Earning Per Share (of Rs.10 each) (not annualized) |
|
|
|
|
Basic EPS |
7.43 |
|
|
|
Diluted EPS |
7.42 |
|
|
A |
PARTICULARS OF
SHAREHOLDING |
|
|
|
17 |
Public Shareholding |
|
|
|
|
- No. of shares |
52532503 |
|
|
|
- Percentage of shareholding |
40.37% |
|
|
18 |
Promoter &
Promoter Group Shareholding |
|
|
|
|
a)
Pledged/Encumbered |
|
|
|
|
- No. of shares |
Nil |
|
|
|
- Percentage of shareholding (as a % of the total shareholding of promoter and promoter group) |
Nil |
|
|
|
- Percentage of shareholding (as a % of the total share capital of the company) |
Nil |
|
|
|
b) Non-encumbered |
|
|
|
|
- No. of shares |
74444697 |
|
|
|
- Percentage of shareholding (as a % of the total shareholding of promoter and promoter group) |
100.00% |
|
|
|
- Percentage of shareholding (as a % of the total share capital of the company) |
57.20% |
|
|
|
Particulars |
3 months ended 30th June 2015 |
|
B |
Investor Complaints |
|
|
|
Pending at the beginning of the quarter |
-- |
|
|
Received during the quarter |
7 |
|
|
Disposed off during the quarter |
7 |
|
|
Remaining unresolved at the end of the
quarter |
- |
STATEMENT OF STANDALONE UNAUDITED RESULTS FOR
THE QUARTER ENDED 30TH JUNE 2015
(Rs. In Million)
|
Particulars |
Quarter
Ended (
Unaudited) |
|
|
30.06.2015 |
|
1.
Segment Revenue |
|
|
Branded Apparels and Accessories |
8368.700 |
|
Textiles |
4029.000 |
|
Agri-Business (Fertilizers, Agro-Chemicals
and seeds) |
6717.100 |
|
Rayon Yarn (including Caustic soda and
allied chemicals) |
2216.200 |
|
Insulator |
1372.900 |
|
Total |
22703.900 |
|
Less : Inter Segment Revenue |
(24.000) |
|
Total
Income from Operation (Net) |
22679.900 |
|
|
|
|
2.
Segment Result |
|
|
Branded Apparels and Accessories |
500.500 |
|
Textiles |
444.900 |
|
Agri-Business (Fertilizers, Agro-Chemicals
and seeds) |
513.900 |
|
Rayon Yarn (including Caustic soda and allied
chemicals) |
493.100 |
|
Insulator |
208.600 |
|
Total |
2161.000 |
|
Less : Interest |
(706.800) |
|
Add: Interest Income |
63.800 |
|
Less: Other Un allocated
(Expenditure)/Income - net |
(98.000) |
|
Profit
after Finance Cost But Before Exceptional Items |
1420.000 |
|
Exceptional Items |
0.000 |
|
Profit
Before Tax |
1420.000 |
|
3. Capital
Employed (Segment Assets-Segment Liabilities) |
|
|
Branded Apparels and Accessories |
4634.800 |
|
Textiles |
3453.000 |
|
Agri-Business (Fertilizers, Agro-Chemicals
and seeds) |
13871.800 |
|
Rayon Yarn (including Caustic soda and
allied chemicals) |
72.33.800 |
|
Insulator |
3842.300 |
|
Total
Segment Capital Employed |
33035.700 |
|
Add: In allocated Corporate Assets |
86201.200 |
|
Total Capital
Employed |
119236.900 |
INDEX OF CHARGE:
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10543607 |
05/01/2015 |
1,616,400,000.00 |
THE BANK OF TOKYO MITSUBISHI UFJ LIMITED |
Republic Plaza #01-01, 9 Raffles Place, (S)048619, |
C40724734 |
|
2 |
10528977 |
17/10/2014 |
224,400,000.00 |
KOTAK MAHINDRA BANK LIMITED |
27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E),, Mumbai,
Maharashtra - 400051, INDIA |
C32181299 |
|
3 |
10525947 |
17/10/2014 |
1,581,150,000.00 |
MIZUHO BANK LTD. MUMBAI BRANCH |
1st Floor, Maker Chambers III,, Jamnalal Bajaj Road, Nariman Point, Mumbai,
Maharashtra - 400021, I |
C29692555 |
|
4 |
10523826 |
25/09/2014 |
420,000,000.00 |
State Bank of India |
Neville House, 3rd floor, J N Heredia Marg,, Ballard Estate, Mumbai-
400001, Mumbai, Maharashtra - |
C25305962 |
|
5 |
10490699 |
24/03/2014 |
1,162,925,000.00 |
Sumitomo Mitsui Banking Corporation Singapore Branch |
3, Temasek Avenue, #06-01, Centennial Tower, Singapore, - 039190,
SINGAPORE |
C03923794 |
|
6 |
10464370 |
26/11/2013 |
260,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B91200485 |
|
7 |
10421667 |
12/06/2013 * |
350,000,000.00 |
STATE BANK OF INDIA |
CORPORATE ACCOUNT GROUP, NEVILLE HOUSE, J.N.HERED |
B78470614 |
|
8 |
10129912 |
03/11/2008 |
200,000,000.00 |
HDFC BANK LIMITED |
SALCO CENTRE, RICHMOND ROAD, BANGALORE, Karnataka |
A51014884 |
|
9 |
10115935 |
08/07/2008 |
740,500,000.00 |
State Bank of India |
CAG- Central, 3rd Floor, State Bank Bhavan, , Madame Cama Road,
Nariman Point, , Mumbai, Maharashtra - 400021, INDIA |
A41874926 |
|
10 |
10113548 |
04/07/2008 |
200,000,000.00 |
IDBI Bank Limited |
IDBI TOWERWTC COMPLEX,, CUFFE PARADE, MUMBAI, Maharashtra - 400005,
INDIA |
A42415869 |
* Date of charge modification
MANAGEMENT DISCUSSION AND ANALYSIS (As
on 31.03.2014)
INDIAN ECONOMY: GDP GROWTH SLOWS DOWN
During fiscal 2013-14,
the Indian economy witnessed many challenges, mainly by way of persistently
high inflation and high interest rates, which led to slow down in consumption
and investment demand. The steep depreciation of the Indian Rupee added to the
problem. Having grown at high single digit over the past few years, India’s GDP
growth slowed in CY2013 to a decade’s low of 4.4%.
The Reserve
Bank of India hiked the repo rate by 75 bps over the past 8 months to contain
the persistently high inflation. WPI inflation moderated to 5.2% in April 2014.
However, CPI inflation remained high at 8.6%.
During the
year, the Government of India and the Reserve Bank of India have taken
substantive measures to narrow the external and fiscal imbalances, tighten
monetary policy, move forward on structural reforms and address market
volatility. The current account deficit has been lowered, following a pick-up
in exports in recent months and measures to curb gold imports.
Going forward,
India’s GDP growth is expected to improve to 5.4% in CY 2014. A stable
government, strong global growth, improving export competitiveness and
implementation of recently approved investment projects are expected to be the
key contributing factors.
STANDALONE FINANCIAL PERFORMANCE
The Company’s
standalone revenue de-grew by 18% to Rs. 80200.000 Million on account of the
divestment of the Carbon Black business and discontinuance of trading in
imported P&K fertilizers. EBITDA is up by 12% to Rs. 1,246 Crore. Fashion
and Lifestyle and the Rayon businesses were the largest contributors.
Profitability in the Agri business was impacted due to the shutdown. The
dividend income from Birla Sun Life Insurance and Idea Cellular also added to
the bottom-line. Net profit surged by 59% from Rs. 4230.000 Million to Rs.
6740.000 Million.
NEW INTIATIVES/MAJOR ACTIVITIES
_ Divestment of Carbon Black and
IT-ITeS businesses
To ensure
greater focus in its core businesses, the Company has divested its Carbon Black
business with effect from 1st April, 2013 and its holding in IT-ITeS business
with effect from 9th May, 2014. The divestment proceeds have been and will be
utilised to support the balance sheet and the growth plans of the Company.
_ Linen Capacity Expansion
To tap sector growth
and strengthen its market leadership in the linen segment, Jaya Shree Textiles
has expanded its linen yarn capacity from 2,300 to 3,400 tons per annum and
linen fabric processing capacity from 7.3 to 10.1 million metres per annum.
_ Capital Infusion
The
shareholders, at their meeting held on 25th April, 2012, approved the issue of
16,500,000 warrants to the Promoters/ Promoter Group in accordance with the
SEBI Guidelines for an aggregate sum of about Rs. 1,500 Crore. A sum of Rs. 376
Crore was received as 25% application money in May 2012, on allotment of the
aforesaid warrants. In March 2013, a sum of Rs. 456 Crore was received, being
75% amount payable on the conversion of 6,680,000 warrants into equal number of
equity shares. In November 2013, Promoters further infused a sum of Rs. 671
Crore on conversion of the remaining 9,820,000 warrants. The capital infusion
has not only strengthened the financial position of the Company but has also
supported its growth plans.
AWARDS AND RECOGNITION
The Company
has been the proud recipient of the following awards and recognitions:
• INDIAN RAYON DIVISION
i) 3rd Annual
Greentech CSR Award-2013 in Chemical Sector, awarded by Greentech Foundation,
New Delhi.
• JAYA SHREE TEXTILES DIVISION
i) Performance
Excellence Trophy – IMC Ramkrishna Bajaj National Quality Award 2013.
ii) Trophy for
significant improvement in productivity – CII Eastern Region Productivity
Awards 2013-2014.
iii) Bronze
Award in the Chairman’s WCM Awards 2013 in the Business Category.
• MADURA FASHION AND LIFESTYLE
Peter England:
i) India’s
Second Most Trusted Brand – Brand Equity Study (2008-13).
ii) Most
Desired Fashion Concept for PE-Oxygeans.
iii) Best
Store Front & Best Signage – Retail Design Awards 2014.
Louis
Philippe:
i) Best
Apparel Brand – Textile Ministry.
ii) Champion
CRM Program of the Year – Loyalty Summit 2013.
Van Heusen:
i) Most
Popular Youth Brand – Women’s formal wear Award, from Youth MarketingForum.
Allen Solley:
i) Best Window
Display 2013–VMRD Awards.
ii) Best
Formal Brand – North East Consumer Forum.
Planet
Fashion:
i) Awarded
certificate for entering top 100 ranks for franchisee opportunities for the
year 2013.
• ADITYA BIRLA INSULATORS – RISHRA
DIVISION
i) Valued Customer
Award by CPRI in Testing and Certification category.
ii) Special Export Award by CAPEXIL in Export category.
UNSECURED LOAN:
(Rs.
In Million)
|
Particulars |
31.03.2014 Rs.
In Million |
31.03.2014 Rs.
In Million |
|
Long Term
Borrowings |
|
|
|
Debentures |
NA |
5000.000 |
|
Foreign Currency Loans from Banks |
NA |
2849.300 |
|
Short Term
Borrowings |
|
|
|
Loan Repayable on Demand from Banks |
|
|
|
Other Loans and Advances |
NA |
7413.500 |
|
Commercial Papers* |
NA |
3957.800 |
|
Total |
NA |
19220.600 |
NOTES:
(Unsecured Loan)
|
UNSECURED LONG-TERM BORROWINGS: |
31.03.2015 |
31.03.2014 |
||
|
A) DEBENTURES |
Current |
Non-Current |
Current |
Non-Current |
|
i) 8.99% 29th Series Non-Convertible Debentures Repayment
Terms: Redeemable at par on 29th January, 2018 |
NA |
NA |
0.000 |
3000.000 |
|
ii) 9.00% 30th Series Non-Convertible Debentures
Repayment Terms: Redeemable at par on 10th May, 2023. |
NA |
NA |
0.000 |
2000.000 |
|
Total
Debenture |
|
|
0.000 |
5000.000 |
|
B) UNSECURED LONG-TERM FOREIGN
CURRENCY BORROWINGS |
|
|
|
|
|
i)
Foreign Currency Loan from Bank Repayment Terms: 3 instalments of Rs.94.500
Million, Rs.9.4.500 Million and Rs.283.300 Million each on the date falling
on 3rd, 4th and 5th year from 1st June, 2010, and 3 instalments of Rs.94.500
Million, Rs.94.500 Million and Rs.283.400 Million each on the date falling on
3rd, 4th and 5th year from 26th July, 2010. |
NA |
NA |
189.000 |
566.800 |
|
iii)
Foreign Currency Loan from Bank Repayment Terms: Bullet payment on 24th
August, 2016. |
NA |
NA |
0.000 |
2282.500 |
|
iv)
Foreign Currency Loan from Bank Repayment Terms: Bullet payment on 21st November,
2014 |
NA |
NA |
333.300 |
0.000 |
|
Total Unsecured Long-term Foreign Currency Borrowings |
NA |
NA |
522.300 |
2849.300 |
FIXED
ASSETS:
·
Land
·
Railway Siding
·
Buildings
·
Leasehold Improvements
·
Plant and Machinery
·
Furniture, Fixtures and Equipment
·
Vehicles and Aircraft
·
Livestock
·
Goodwill
·
Trademark / Brands / Technical Know-how
·
Specialised Software
PRESS
RELEASE:
Revenues for the quarter at Aditya Birla Nuvo (excluding IT-ITeS Business which was divested w.e.f. 9 May 2014 and before one-off items) grew year on year by 14 per cent, EBITDA rose by 21 per cent and net profit increased by 20 per cent.
Aditya Birla Nuvo (ABNL) has applied for Payments Bank license in accordance with RBI guidelines. ABNL will be the promoter of the proposed Payments Bank, holding 51 per cent of its equity capital. Idea Cellular will hold the balance 49 per cent, which may be increased to 60 per cent if permitted from time to time with regulatory approval.
Business-wise review
Aditya Birla
Financial Services
Aditya Birla Financial Services (ABFS)
ranks among the top five fund managers (excluding LIC) in India. Its funds
under management grew year-on-year by 26 per cent to US$24.6 billion
(Rs.1473880.000 Million). Its quarterly consolidated revenue at Rs.19130.000
Million registered a 30 per cent year-on-year growth and earnings before tax
grew by 10 per cent to Rs.2020.000 Million. ABFS posted an ROACE of 23 per cent
per annum during these nine months. ABFS is ramping up its online and offline
distribution reach and entering into strategic partnerships to tap sector
growth opportunities. A definitive agreement was signed with IFC for strategic
investment in MyUniverse, India’s #1 online money management portal. ABFS is
also planning to enter health insurance business in India through joint venture
with MMI Holdings Ltd, a leading South African insurance-based financial
services group.
The lending book of Aditya Birla Finance expanded year-on-year by 53 per cent to Rs.15,4750.000 Million. Its loan book continues to be healthy. Its gross NPA stands at 1.22 per cent and net NPA at 0.43 per cent. The new business premium market share of Birla Sun Life Insurance, among the private life insurers, rose year-on-year from 6.6 per cent to 7.5 per cent during April to December 2014. The total AUM of Birla Sun Life Asset Management is up by 27 per cent year-on-year to Rs.1174890.000 Million led by 98 per cent growth in its domestic equity AUM. The broking business improved its market share in retail F&O, commodities and currency segments. MyUniverse is enjoying trust of 1.3 million registered users and is managing more than Rs.147000.000 Million.
Fashion & Lifestyle
The revenue of the Fashion & Lifestyle Business extended by 8 per cent to
Rs.16760.000 Million. EBITDA de-grew from Rs.1920.000 Million to Rs.1680.000
Million. Soft consumer spending and weak festive sales coupled with pricing
pressure impacted earnings growth across the industry. Led by sound working
capital management, ROACE during these nine months continued to be robust at 32
per cent per annum.
Madura’s revenue augmented by 7 per cent to Rs.9130.000 Million. EDITDA de-grew from Rs.1160.000 Million to Rs.1020.000 Million due to weak customer footfalls and higher discounting. Pantaloons revenues increased year-on-year by 7 per cent to Rs.4500.000 Million. EBITDA de-grew from Rs. 350.000 Million to Rs. 310.000 Million given the moderated sales growth. Jaya Shree reported a marginal uptake in revenues to Rs.3360.000 Million. EBIDTA de-grew from Rs. 500.000 Million to Rs. 350.000 Million constrained by lower linen fabric realisation and wool combing sales owing to weak demand.
Telecom
With a base of 152 million active subscribers, Idea ranks as the sixth largest cellular
operator in the world, in terms of subscribers, based on operations in a single
country. In India, it ranks third with an improved revenue market share at 17.2
per cent up from 15.8 per cent a year ago. Its consolidated revenue rose by 21
per cent to Rs.8,009 crore and EBITDA surged by 36 per cent to Rs.28850.000
Million. With cash profit generation run rate of Rs.2000.000 Million per
quarter and equity infusion of Rs.3,7500.000 Million, Idea’s net debt reduced
by more than Rs.8,2500.000 Million during nine months and net debt to EBIDTA
ratio improved to 1.12 times.
Manufacturing (Agri, Rayon and Insulators)
The revenue from the manufacturing businesses at Rs.11860.000 Million expanded
by 7 per cent and EBITDA at Rs.141 crore enhanced by 19 per cent. In the Agri
Business, improved energy efficiency, higher fixed cost reimbursement as per
the Government policy and increased sales of pesticides and seeds augmented
profitability. In the Rayon Business, profitable growth in VFY segment was
offset by lower caustic soda volumes owing to annual maintenance shutdown in
power plant and softening of ECU realisation. In the Insulators Business, a
rise in volumes coupled with higher realisation, mainly to pass on the rise in
operating costs, contributed to the earnings growth.
ABNL’s standalone balance sheet
Net debt reduced to Rs.28360.000 Million led by operating cash profit and lower
net working capital. Net debt to annualised EBITDA improved from 2.6 times in
March 2014 to 2.3 times in December 2014.
Going forward
For fiscal 2014-15, ABNL has a capital expenditure and investment plan of about
Rs.9000.000 Million, towards funding of growth capital requirement in Financial
Services Businesses and capex plan of standalone businesses. Of this, a sum of
Rs.3270.000 Million has been incurred in the first nine months.
About Aditya Birla Nuvo Limited
Aditya Birla Nuvo is a ~US$4 billion conglomerate operating in the services and
the manufacturing sectors, where it commands a leadership position. Its service
sector businesses include Financial Services (Life Insurance, Asset Management,
NBFC, Housing Finance, Private Equity, Broking, Wealth Management, online money
management and general insurance advisory), Fashion and Lifestyle (Branded
apparels and Textiles) and Telecom. Its manufacturing businesses comprise the
Agri, Rayon and Insulators Businesses.
Aditya Birla Nuvo is part of the Aditya Birla Group, a US$40 billion Indian
multinational. The Group operates in 36 countries across the globe, is anchored
by an extraordinary force of about 120,000 employees belonging to 42
nationalities and derives more than 50 per cent of its revenue from its
overseas operations.
Disclaimer : Certain statements in this "Press Release" may not be based on historical information or facts and may be "forward looking statements" within the meaning of applicable securities laws and regulations, including, but not limited to, those relating to general business plans & strategy of the Company, its future outlook & growth prospects, future developments in its businesses, its competitive & regulatory environment and management's current views & assumptions which may not remain constant due to risks and uncertainties. Actual results could differ materially from those expressed or implied. The Company assumes no responsibility to publicly amend, modify or revise any statement, on the basis of any subsequent development, information or events, or otherwise. This "Press Release" does not constitute a prospectus, offering circular or offering memorandum or an offer to acquire any shares and should not be considered as a recommendation that any investor should subscribe for or purchase any of the Company's shares. The financial figures in this "Press Release" have been rounded off to the nearest Rupees one crore. The financial results are consolidated financials unless otherwise specified.
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 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.64.92 |
|
UK Pound |
1 |
Rs.101.43 |
|
Euro |
1 |
Rs.72.25 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
67 |
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.