MIRA INFORM REPORT
|
Report No. : |
337920 |
|
Report Date : |
21.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
BALLARPUR INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
P.O. Ballarpur Paper Mills, Chandrapur Ballarpur – 442901, Maharashtra |
|
Tel. No.: |
91-124-4099208 |
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|
|
Country : |
India |
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|
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Financials (as
on) : |
31.03.2015 |
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|
Date of
Incorporation : |
26.04.1945 |
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Com. Reg. No.: |
11-010337 |
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Capital
Investment / Paid-up Capital : |
Rs. 1311.235 Million |
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|
|
CIN No.: [Company Identification
No.] |
L21010MH1945PLC010337 |
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|
|
IEC No.: |
0588064459 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NGPB00166F / NGPB01717C |
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PAN No.: [Permanent Account No.] |
AAACB5343E |
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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
: |
Manufacturer and Exporter of Writing and Printing Paper and Paper
Products. |
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|
No. of Employees
: |
2097 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 46010000 |
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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 incorporated in the year 1945, having fine track. As per financial year ending on 31 March 2015, the overall financial of the company is strong. Fundamentals of the company is decent. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions. (Note: As confirmed by Mr. Nakul (Deputy General Manager), Management has changed the financial year ending from 30 June to 31 march. Available financials shows only for 9 months i.e. from 1st July 2014 to 31st March 2015) |
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
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
India Ratings |
|
Rating |
Commercial Paper “IND A1+” |
|
Rating Explanation |
Very strong degree of safety regarding timely
payments and carry lowest credit risk. |
|
Date |
05.12.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
LOCATIONS
|
Registered Office : |
P.O. Ballarpur Paper Mills, Chandrapur Ballarpur – 442901,
Maharashtra, India |
|
Tel. No.: |
91-124-4099208 /2804242/ 43 |
|
Fax No.: |
91-124-2804260 / 61 |
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E-Mail : |
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Website : |
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Area : |
Owned |
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|
|
|
Head Office : |
Thapar House, 124 Janpath, New Delhi – 110001, India |
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|
|
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Corporate/ Operating Office : |
First India Place, Tower C, Block-A, Sushant Lok - I, Mehrauli - Gurgaon Road, Gurgaon - 122002, Haryana, India |
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Tel. No.: |
91-124-2804242/ 43 |
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Fax No.: |
91-124-2804260-61 |
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E-Mail : |
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Plant 1 : |
Unit Sewa Gaganpur, P.O. Jeypore Railway Station, District Koraput - 764002,
Orissa, India |
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Plant 2 : |
Unit Shree Gopal
P.O. Yamunanagar, District Yamunanagar - 135001, Haryana, India |
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Plant 3 : |
Unit Ashti P.O. Ashti, Tehsil Chamorshi, District Gadchiroli - 442707,
Maharashtra, India |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. Gautam Thapar |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. R.R. Vederah |
|
Designation : |
Manager Director and Executive Vice Chairman |
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Name : |
Mr. B. Hariharan |
|
Designation : |
Group Director (Finance) |
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Name : |
Mr. A.P. Singh |
|
Designation : |
Director - Nominee of LIC |
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|
Name : |
Mr. P.V. Bhide |
|
Designation : |
Director |
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|
Name : |
Mr. Sanjay Labroo |
|
Designation : |
Director |
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|
Name : |
Mr. A.S. Dulat |
|
Designation : |
Director |
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|
|
|
Name : |
Mr. Ashish Guha |
|
Designation : |
Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2015
|
Category of Shareholders |
No. of Shares |
Percentage of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
1211198 |
0.18 |
|
|
322799469 |
49.24 |
|
|
324010667 |
49.43 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
324010667 |
49.43 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
27137663 |
4.14 |
|
|
452263 |
0.07 |
|
|
5550 |
0.00 |
|
|
63715469 |
9.72 |
|
|
106286895 |
16.21 |
|
|
1560554 |
0.24 |
|
|
3676010 |
0.56 |
|
|
3676010 |
0.56 |
|
|
202834404 |
30.94 |
|
|
|
|
|
|
23019141 |
3.51 |
|
|
|
|
|
|
64113070 |
9.78 |
|
|
30341849 |
4.63 |
|
|
11204585 |
1.71 |
|
|
2222647 |
0.34 |
|
|
2909261 |
0.44 |
|
|
338042 |
0.05 |
|
|
5734635 |
0.87 |
|
|
128678645 |
19.63 |
|
Total Public shareholding (B) |
331513049 |
50.57 |
|
Total (A)+(B) |
655523716 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
|
|
|
|
0 |
0.00 |
|
|
123 |
0.00 |
|
|
123 |
0.00 |
|
Total (A)+(B)+(C) |
655523839 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Writing and Printing Paper and Paper
Products. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
-- |
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Imports : |
-- |
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Terms : |
-- |
PRODUCTION STATUS
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
2097 (Approximately) |
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Bankers : |
· Axis Bank Limited · Export-Import Bank of India · State Bank of Travancore |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institutions : |
· GE Money Financial Services Private Limited · Life Insurance Corporation of India |
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|
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Auditors : |
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|
Name : |
K. K. Mankeshwar and Company Chartered Accountants |
|
Address : |
Kingsway, Nagpur – 440001, Maharashtra, India |
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Tel. No.: |
91-712-6629946/ 47/ 2554223 |
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Fax No.: |
91-712-6629948/ 6613404 |
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E-Mail : |
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Memberships : |
-- |
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|
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Collaborators : |
-- |
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Subsidiary
Companies (30.06.2014) : |
· Ballarpur International Holdings B.V. · Ballarpur International Graphic Paper Holdings B.V. (now known as Bilt Paper B.V.) · Ballarpur Paper Holdings B.V. · Ballarpur Speciality Paper Holdings B.V. · BILT Graphic Paper Products Limited · BILT Tree Tech Limited · Sabah Forest Industries Sdn. Bhd. · Premier Tissues (India) Limited · Ballarpur International Holdings B.V. · BILT Tree Tech Limited · Premier Tissues (India) Limited |
|
|
|
|
Step Down
Subsidiary (As on 30.06.2014) : |
·
Ballarpur Paper Holdings B.V. ·
BILT Graphic Paper
Products Limited ·
Sabah Forest Industries Sdn. Bhd. |
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|
|
|
Other Related Parties
(As on 30.06.2014) : |
· Arizona Printers and Packers Private Limited · Avantha Holdings Limited · Avantha Realty Limited · Avantha Power and Infrastructure Limited · BILT Industrial Packaging Company Limited · Biltech Building Elements Limited · Crompton Greaves Limited · Global Green Company Limited · Jhabua Power Limited · Korba West Power Company Limited · Krebs & Cie (India) Limited · Leading Line Merchant Traders Private Limited · Mirabelle Trading Pte. Limited · Prestige Wines and Spirits Private Limited · Saraswati Travels Private Limited · Solaris Chemtech Industries Limited · UHL Power Company Limited |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,487,500,000 |
Equity Shares |
Rs. 2/- each |
Rs. 2975.000 Million |
|
10,250,000 |
Preference Shares |
Rs. 100/- each |
Rs. 1025.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 4000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
655,773,584 |
Equity Shares |
Rs. 2/- each |
Rs. 1311.500
Million |
|
249,745 |
Less: Forfeited shares |
|
Rs. 0.500
Million |
|
655,523,839 |
Total Equity Shares |
Rs. 2/- each |
Rs. 1311.000
Million |
|
|
Add: Amount originally paid up on forfeited shares |
|
Rs. 0.200 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 1311.200
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 (9 Months) |
30.06.2014 |
30.00.2013 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1311.200 |
1311.200 |
1311.200 |
|
(b) Reserves & Surplus |
14793.700 |
14856.300 |
14661.400 |
|
(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) |
16104.900 |
16167.500 |
15972.600 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
4262.700 |
4070.700 |
3179.200 |
|
(b) Deferred tax liabilities (Net) |
563.300 |
763.100 |
1035.200 |
|
(c)
Other long term liabilities |
49.100 |
68.400 |
36.700 |
|
(d)
long-term provisions |
303.000 |
306.800 |
338.400 |
|
Total
Non-current Liabilities (3) |
5178.100 |
5209.000 |
4589.500 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
5134.400 |
4839.500 |
4021.500 |
|
(b)
Trade payables |
1190.900 |
1168.800 |
1351.700 |
|
(c)
Other current liabilities |
1634.500 |
1862.700 |
2326.500 |
|
(d)
Short-term provisions |
335.700 |
220.000 |
294.900 |
|
Total
Current Liabilities (4) |
8295.500 |
8091.000 |
7994.600 |
|
|
|
|
|
|
TOTAL |
29578.500 |
29467.500 |
28556.700 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
14202.300 |
12101.000 |
11823.200 |
|
(ii)
Intangible Assets |
0.000 |
364.000 |
330.800 |
|
(iii)
Capital work-in-progress |
0.000 |
1328.800 |
1368.700 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
8137.800 |
8137.800 |
8137.800 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
38.100 |
489.400 |
427.400 |
|
(e)
Other Non-current assets |
|
|
|
|
Total
Non-Current Assets |
22378.200 |
22421.000 |
22087.900 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2936.300 |
3063.300 |
2615.100 |
|
(c)
Trade receivables |
2166.100 |
2091.700 |
2129.600 |
|
(d)
Cash and cash equivalents |
101.600 |
196.900 |
177.800 |
|
(e)
Short-term loans and advances |
1993.500 |
1692.700 |
1544.500 |
|
(f)
Other current assets |
2.800 |
1.900 |
1.800 |
|
Total
Current Assets |
7200.300 |
7046.500 |
6468.800 |
|
|
|
|
|
|
TOTAL |
29578.500 |
29467.500 |
28556.700 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 (9 Months) |
30.06.2014 |
30.00.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4462.700 |
9504.900 |
9846.800 |
|
|
|
Other Income |
59.900 |
43.800 |
36.500 |
|
|
|
TOTAL (A) |
4522.600 |
9548.700 |
9883.300 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1090.200 |
3475.900 |
3851.600 |
|
|
|
Purchases of Stock-in-Trade |
687.600 |
1439.800 |
1039.300 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(16.100) |
(148.800) |
(159.800) |
|
|
|
Employees benefits expense |
573.000 |
968.600 |
979.900 |
|
|
|
Other expenses |
1494.900 |
2457.000 |
2560.100 |
|
|
|
TOTAL (B) |
3829.600 |
8192.500 |
8271.100 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
693.000 |
1356.200 |
1612.200 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
359.900 |
537.400 |
426.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
333.100 |
818.800 |
1185.800 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
443.500 |
717.400 |
808.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(110.400) |
101.400 |
376.900 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
(250.800) |
45.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(110.400) |
352.200 |
331.900 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
|
56.300 |
39.400 |
|
|
|
Components and spare parts |
|
193.000 |
108.100 |
|
|
|
Capital Goods |
|
2.600 |
9.700 |
|
|
TOTAL IMPORTS |
NA |
251.900 |
157.200 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(0.08) |
0.27 |
0.25 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 (9 Months) |
30.06.2014 |
30.00.2013 |
|
Current Maturities of Long term debt |
NA |
1108.500 |
1535.800 |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
618.000 |
1876.900 |
|
|
|
|
|
|
Net Cash Flow from used in Operations |
NA |
541.400 |
1596.500 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 (9 Months) |
30.06.2014 |
30.00.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.00 |
3.71 |
3.37 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
15.53 |
14.27 |
16.37 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.51) |
0.51 |
1.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.01) |
0.01 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.58 |
0.62 |
0.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.87 |
0.87 |
0.81 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities of
Long-term debts
STOCK
PRICES
|
Face Value |
Rs. 2.00/- |
|
|
|
|
Market Value |
Rs. 16.15/- (BSC) |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
30.06.2013 |
30.06.2014 |
31.03.2015
(9
Months) |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
1311.200 |
1311.200 |
1311.200 |
|
Reserves & Surplus |
14661.400 |
14856.300 |
14793.700 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
15972.600 |
16167.500 |
16104.900 |
|
|
|
|
|
|
Long-term borrowings |
3179.200 |
4070.700 |
4262.700 |
|
Short term borrowings |
4021.500 |
4839.500 |
5134.400 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
1535.800 |
1108.500 |
0.000 |
|
Total
borrowings |
8736.500 |
10018.700 |
9397.100 |
|
Debt/Equity
ratio |
0.547 |
0.620 |
0.583 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
30.06.2013 |
30.06.2014 |
31.03.2015 (9 Months) |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
9846.800 |
9504.900 |
4462.700 |
|
|
|
(3.472) |
(53.048) |
NET PROFIT MARGIN
|
Net
Profit Margin |
30.06.2013 |
30.06.2014 |
31.03.2015 (9 Months) |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
9846.800 |
9504.900 |
4462.700 |
|
Profit |
331.900 |
352.200 |
89.400 |
|
|
3.37% |
3.71% |
2.00% |
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 |
Yes |
|
8 |
Designation of contact person |
Yes |
|
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 |
No |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10578915 |
16/06/2015 |
2,750,000,000.00 |
ICICI
BANK LIMITED |
ICICI BANK
TOWER, NBCC PLACE, PRAGATI VIHAR, BHISHMA PITAMAH MARG, NEW DELHI - 110003,
INDIA |
C58415639 |
|
2 |
10571343 |
30/05/2015 |
1,000,000,000.00 |
IDBI
BANK LIMITED |
INDIAN
RED CROSS SOCIETY BUILDING, POST BAG NO. 231, NEW DELHI - 110001, INDIA |
C54610274 |
|
3 |
10543478 |
22/12/2014 |
1,000,000,000.00 |
THE
SOUTH INDIAN BANK LIMITED |
NEW
DELHI-CONNAUGHT PLACE, P.B. NO. 323, 22, REGAL BLDG, NEW DELHI - 110001,
INDIA |
C40674012 |
|
4 |
10493624 |
22/04/2014 |
1,500,000,000.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
ASIAN
BUILDING, GROUND FLOOR, 17, R KAMANI MARG, BALLARD ESTATE, MUMBAI -
400001, MAHARASHTRA, INDIA |
C03413119 |
|
5 |
10466699 |
23/12/2013 |
500,000,000.00 |
STATE
BANK OF TRAVANCORE |
R. K. PURAM
BRANCH, 1ST FLOOR ANSAL CHAMBERS - I, |
B92171701 |
|
6 |
10394873 |
31/12/2012 |
500,000,000.00 |
GE
MONEY FINANCIAL SERVICES PRIVATE LIMITED |
401 402
4TH FLOORAGGARWAL MILLENIUM TOWER, E1 2 3 NETAJI SUBHASH PLACE,
PITAMPURA DELHI - 110034, INDIA |
B65128324 |
|
7 |
10382978 |
23/10/2012 |
1,500,000,000.00 |
EXPORT-IMPORT
BANK OF INDIA |
CENTRE
ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI
- 400005, MAHARASHTRA, INDIA |
B60688421 |
|
8 |
80049461 |
28/09/2004 |
500,000,000.00 |
UTI
BANK LIMITED |
148BARAKHAMBHA
ROAD, NEW DELHI, NEW DELHI - 110001, INDIA |
- |
|
9 |
90235022 |
16/02/2004 |
95,000,000.00 |
IDBI
BANK LIMITED |
1109 AND
1110; SURYA KIRAN BUILDING, 19; K.G. MARG, NEW DELHI, INDIA |
- |
|
10 |
90235007 |
24/12/2003 |
250,000,000.00 |
IDBI
BANK LIMITED. |
1109
AND 1110; SURYA KIRAN BUILDING, 19; K.G. MARG, |
- |
|
11 |
90058140 |
03/06/2003 |
250,000,000.00 |
ING
VYASA BANK LIMITED |
G-35,
CONNAUGHT PLACE, NEW DELHI, INDIA |
- |
|
12 |
90234925 |
27/02/2003 |
5,000,000.00 |
EXPORT-
IMPORT BANK OF INDIA |
CENTRE
ONE BUILDING; FLOOR 21, W.T.C.COMPLEX; CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA,
INDIA |
- |
|
13 |
90238029 |
30/11/2002
* |
500,000,000.00 |
UTI
BANK LIMITED |
13TH
FLOOR; MAKER TOWER F, CUFFE PARADE; COLABA, MUMBAI - 400005,
MAHARASHTRA, INDIA |
- |
|
14 |
90240959 |
30/11/2003
* |
500,000,000.00 |
UTI
BANK LIMITED |
13TH
FLOOR; MAKER TOWER, COFFE PARADE; COLOBA, MUMBAI - 400005, MAHARASHTRA, INDIA |
- |
|
15 |
90234871 |
12/07/2002 |
31,500,000.00 |
PUNJAB
NATIONAL BANK |
ECE
HOUSE, K.G. MARG, NEW DELHI - 110001, |
- |
|
16 |
90238012 |
09/03/2004
* |
1,400,000,000.00 |
UTI
BANK LIMITED |
13TH
FLOOR; MAKER TOWER F, CUFFE PARADE; COLABA, MUMBAI - 400005,
MAHARASHTRA, INDIA |
- |
|
17 |
90238178 |
06/05/2002
* |
1,400,000,000.00 |
UTI
BANK LIMITED |
13TH
FOOOR; MAKER TOWER- F, CUFFE PARADE; COLOBA, MUMBAI - 400005,
MAHARASHTRA, INDIA |
- |
|
18 |
90240875 |
09/03/2004
* |
1,400,000,000.00 |
UTI
BANK LIMITED |
13TH
FLOOR; MAKER TOWER- F, CUFFE PARADE; COLOBA, MUMBAI -
400005,MAHARASHTRA, INDIA |
- |
|
19 |
90234847 |
12/03/2003
* |
500,000.00 |
STATE BANK
OF PATIYALA |
CENTRAL
AVENUE BRANCH, NAGPUR - 44001 |
- |
|
20 |
90043264 |
05/06/2002
* |
525,000,000.00 |
INDUSTRIAL
DEVELOPMENT BANK OF INDIA |
IDBI
TOWER, WTC COMPLEX; CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA |
- |
|
21 |
90043252 |
03/12/2001 |
300,000,000.00 |
UTI
BANK LIMITED |
STATESMAN
HOUSE, BARAKHAMBA ROAD, NEW DELHI - 110001, INDIA |
- |
|
22 |
90236129 |
21/04/2003
* |
250,000,000.00 |
THE
HONKONG AND SHANGHAI BANKING CORPORATION LIMITED |
NEW DELHI,
NEW DELHI, INDIA |
- |
|
23 |
90240831 |
21/04/2003
* |
250,000,000.00 |
THE
HONGKONG AND SHANGHAI BANKING COPRORATION LIMITED |
NEW
DELHI, NEW DELHI, INDIA |
- |
|
24 |
90043233 |
07/11/2001 |
120,000,000.00 |
UTI
BANK LIMITED |
STATESMAN
HOUSE; UPPER GROUND FLOOR, 48; BARAKHAM |
- |
|
25 |
90043172 |
20/08/2001 |
800,000,000.00 |
ICICI
LIMITED |
ICICI
TOWER; NBCC PLACE, PRAGATI VIHAR; BHISHAM P |
- |
|
26 |
90043107 |
18/12/2001
* |
500,000,000.00 |
UTI
BANK LIMITED |
STATESMAN
HOUSE, 148; BARAKHAMBA ROAD, NEW DELHI, INDIA |
- |
|
27 |
90057488 |
05/06/2001 |
300,000,000.00 |
ICITI
LIMITED |
NBCC
PLACE, BHISHAM PITAMAH MARG, NEW DELHI - 110003, INDIA |
- |
|
28 |
90238175 |
30/03/2001 |
450,500,000.00 |
ALLAHABAD
BANK |
2
NATAJI SUBHAS ROAD, CALCUTTA, WEST BENGAL, INDIA |
- |
|
29 |
90232579 |
29/03/2001
* |
130,000,000.00 |
INTERNATIONAL
FINANCE CORPORATION |
2121; PENNSYLVANIA
N. W., WASHINGTON D. C.; 20433, USA, , UNITED STATES OF AMERICA |
- |
|
30 |
90056939 |
28/09/1998 |
250,000,000.00 |
ABN
AMRO BANK N.V. |
327,
M.G. ROAD, PUNE - 411001, MAHARASHTRA, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
30.06.2014 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
Non-convertible debentures |
500.000 |
|
Deferred payment liabilities |
0.000 |
|
|
|
|
SHORT TERM BORROWINGS |
|
|
Working capital loan |
4839.500 |
|
Fixed deposits |
0.000 |
|
|
|
|
Total |
5339.500 |
CONTINGENT
LIABILITIES:
|
Particulars |
30.06.2014 (Rs.
In Million) |
30.06.2013 (Rs.
In Million) |
|
Claims against the Company not acknowledged as debts |
1208.000 |
1083.100 |
|
Guarantees |
210.100 |
185.600 |
|
|
|
|
|
|
|
|
|
Total |
14,181 |
12,687 |
STATEMENT OF STANDALONE FINANCIAL RESULTS FOR
THE QUARTER ENDED JUNE 30, 2015
PART I
(Rs.
in Million)
|
|
Particulars |
Unaudited 30.06.2015 |
|
1. |
Income
from operations |
|
|
|
a)
Net Sales/Income from Operations |
1334.700 |
|
|
(Net
of excise duty) |
|
|
|
b)
Other Operating Income |
26.000 |
|
|
Total Income from Operations (net) |
1360.700 |
|
|
|
|
|
2. |
Expenses |
|
|
|
a)
Cost of materials consumed |
332.200 |
|
|
b)
Purchase of traded goods |
65.100 |
|
|
c)
Changes in inventories of finished goods, work-in-progress and traded goods |
64.700 |
|
|
f)
Employee benefits expense |
186.900 |
|
|
g)
Depreciation and amortisation expense |
140.100 |
|
|
h)
Other expenses |
|
|
|
Power and Fuel |
296.500 |
|
|
Store and Spare |
12.300 |
|
|
Other Expenditures |
173.700 |
|
|
Total Expenses |
1271.500 |
|
|
|
|
|
3. |
Profit/(Loss) from Operations
before other income, Interest, finance costs and exceptional Items (1-2) |
89.200 |
|
4. |
Other
Income |
-- |
|
5. |
Profit/(Loss) from ordinary activities before finance
costs and exceptional Items (3+4) |
89.200 |
|
6. |
Finance
costs (Net of foreign exchange gain/loss) |
127.300 |
|
7. |
Profit/(Loss) from ordinary activities after finance
costs but before exceptional Items (5-6) |
(38.100) |
|
8. |
Exceptional
Items |
0.000 |
|
9. |
Profit/(Loss) from ordinary activities before tax (7-8) |
(38.100) |
|
10. |
Tax
expense (Net of Mat entitlement credit) |
(39.300) |
|
11. |
Profit/(Loss) from ordinary activities after tax (9-10) |
1.2000 |
|
12. |
Extraordinary
item (net of tax expense) |
0.000 |
|
13. |
Net Profit/(Loss) for the period (11-12) |
1.200 |
|
14. |
Share of Profit/(Loss)
associates |
0.000 |
|
15. |
Minority
Interest |
0.000 |
|
16. |
Net Profit/ (Loss) After Taxes Minority Interest and Share of
Profit/(Loss) of Associates (13-14-15) |
1.200 |
|
17. |
Debt service coverage
ratio |
0.000 |
|
18. |
Interest service coverage
ratio |
0.000 |
|
19. |
Paid-up Eq. Share Capital (Face Value of Equity Shares: Rs. 2/- each) |
0.000 |
|
20. |
Reserves excluding Revaluation Reserve as per Balance Sheet of
Previous Accounting Year |
0.000 |
|
21. (a) |
Earnings
Per Share before exceptional item |
|
|
|
a) Basic |
0.00 |
|
|
b) Diluted |
0.00 |
|
|
|
|
|
21. (b) |
Earnings
Per Share after exceptional item |
|
|
|
c) Basic |
0.00 |
|
|
d) Diluted |
0.00 |
|
PART II |
|
|
|
A. |
PARTICULARS
OF SHAREHOLDING (the details related only to share of the company) |
|
|
1. |
Public
Shareholding |
|
|
|
-
Number of Shares |
331513172 |
|
|
-
Percentage of Shareholding |
5057% |
|
2. |
Promoter
and Promoter Group Shareholding |
|
|
|
a)
Pledged/Encumbered |
209447803 |
|
|
-
Number of Equity Shares of Rs. 2/- each |
64.64% |
|
|
-Percentage
of Shareholding (as a % of the total shareholding of promoter and promoter
group) |
|
|
|
(as
a % of the total share capital of the Company) |
31.95% |
|
|
b)
Non-encumbered |
|
|
|
-
Number of Equity Shares of Rs. 2/- each |
114562864 |
|
|
-Percentage
of Shareholding (as a % of the total shareholding of promoter and promoter
group) |
35.36% |
|
|
(as
a % of the total share capital of the Company) |
17.48% |
|
|
||
|
|
Particulars |
|
|
B. |
INVESTOR
COMPLAINTS |
|
|
|
Pending
at the beginning of the quarter |
NIL |
|
|
Received
during the quarter |
1 |
|
|
Disposed
of during the quarter |
1 |
|
|
Remaining
unresolved at the end of the quarter |
NIL |
|
|
|
|
|
|
|
|
|
1. |
Segment
Revenues |
|
|
|
(a)
Paper |
981.300 |
|
|
(b)
Paper products and Office Suppliers |
322.800 |
|
|
(c)
Pulp rayon grade |
30.600 |
|
|
(d)
Pulp paper grade |
0.000 |
|
|
(e)
Unallocated |
0.000 |
|
|
Total |
133.47 |
|
|
Less:
Inter segment revenue |
0.000 |
|
|
Net
sales/income from operation |
1334.700 |
|
2. |
Segment
results {(Profit)(+)/ Loss (-) before tax and interest} |
|
|
|
(a)
Paper |
228.600 |
|
|
(b)
Paper products and Office Suppliers |
3.200 |
|
|
(c)
Pulp rayon grade |
(132.400) |
|
|
(d)
Unallocated |
0.000 |
|
|
Total |
99.400 |
|
|
Less:
i) Interest |
127.300 |
|
|
ii) Other un-allocable expenditure |
0.000 |
|
|
Net
of un-allocable income |
10.200 |
|
|
Total Profit Before Tax |
(38.100) |
|
3. |
Capital
Employed |
|
|
|
(Segment
Assets-Segment Liabilities) |
|
|
|
(Based
on reasonable estimates) |
|
|
|
(a)
Paper |
12039.200 |
|
|
(b)
Paper products and Office Suppliers |
1320.600 |
|
|
(c)
Pulp rayon grade |
5961.800 |
|
|
(e)
Unallocated |
7605.700 |
|
|
Total |
26927.300 |
NOTES:
· Provision for taxation is net of MAT credit entitlement of the Company’s step down subsidiary Bilt Graphic Paper Product (BGPPL) amounting to Rs. 17.100 Million for the current quarter. (Corresponding quarter previous year to Rs. 41.200 Million. Also the company has recognised deferred tax asset amounting to Rs. 39.300 Million during the quarter (corresponding quarter previous year Rs. 85.800 Million.
· Rayon grade pulp manufacturing unit located at Kamalapuram continues to remain shut due to adverse Indian and global market conditions of Rayon grade Puple/Viscope staple fibre and has impacted the results. The company has given representation to the State Government for certain subsidies on imputs and power for restarting the manufacturing activity, which is under active consideration of the Government.
· During the quarter, the operations of the step down subsidiary Sabah Forest industrial Sdn. Bhd., Malaysia was shut to replace the chip screen with modified designed screen and the same has impacted the results.
· The Board in its meeting held on 10th July, 2015 has approved the binding offer received for disinvestment of entire equity stake of 98.08% in its step down subsidiary, Sabah Forest Industries Sdn. Bhd., Malaysia. The offer is subject to regulatory, other approvals and signing of definitive documents.
· These results have been reviewed by the Audit Committee, approved by the Board of Directors in its meeting held on 12th August 2015 and undergone “Limited Review ”by the Statutory Auditors of the company.
· Previous year figures have been regrouped/ rearranged wherever necessary.
FIXED ASSETS: (AS
ON 31.03.2014)
Tangible Assets
· Land – Freehold
· Land- Leasehold
· Buildings
· Plant and Equipment’s
· Furniture and Fixtures
· Vehicles
· Office equipment
· Computer
· Railway Sidings, Trolley Lines, Tramway and Tipping Tubs
Intangible
Assets
· Computer Software
·
Product Development
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.83 |
|
|
1 |
Rs.103.39 |
|
Euro |
1 |
Rs.74.27 |
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
52 |
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.