IRA INFORM REPORT
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Report No. : |
352496 |
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Report Date : |
01.12.2015 |
IDENTIFICATION DETAILS
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Name : |
HINDALCO INDUSTRIES LIMITED (w.e.f. 1989) |
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Formerly Known
As : |
HINDUSTAN ALUMINIUM CORPORATION LIMITED |
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Registered
Office : |
Century Bhavan, 3rd Floor, Dr. Annie Besant Road, Worli,
Mumbai – 400025, Maharashtra |
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Tel. No.: |
91-22-24308491 |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
15.12.1958 |
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Com. Reg. No.: |
11-011238 |
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Capital
Investment / Paid-up Capital : |
Rs.2065.200 Million |
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IEC No.: |
0388147237 |
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CIN No.: [Company Identification
No.] |
L27020MH1958PLC011238 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMI05060G |
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PAN No.: [Permanent Account No.] |
AAACH1201R |
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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 an integrated aluminum manufacturer, mines bauxite and refines it into alumina, subject’s other operations include the smelting of alumina into aluminum, the manufacture of semi-fabricated rolled and extruded products. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
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MIRA’s Rating : |
Aa (74) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit: |
USD 1064440000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a Flagship company of “Aditya Birla Group” It is one of the
largest integrated aluminum manufacturer in India. It is a well-established and reputed company incorporated in the year
1958 having an excellent track record. Available financial indicates strong financial risk profile marked by
healthy net worth position with negligible debt recorded and fair profit margin
of the company. The rating also takes into consideration company established market
position in aluminum industry and extensive experienced of its promoters. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. In view of long track record and healthy financial base, the company
can be considered good for business dealings at usual trade terms and
conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
CRISIL |
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Rating |
Long Term Bank Facilities= AA |
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Rating Explanation |
High degree of safety and carry low credit risk |
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Date |
07.10.2015 |
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Rating Agency Name |
CRISIL |
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Rating |
Short Term Bank Facilities = A1+ |
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Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
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Date |
07.10.2015 |
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
31-03-2015.
INFORMATION DENIED
Management Non-Cooperative (91-22-24995000)
LOCATIONS
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Registered Office/ Marketing Head Office: |
Century Bhavan, 3rd
Floor, Dr. Annie Besant Road, Worli, Mumbai – 400 025, Maharashtra, India |
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Tel. No.: |
91-22-24308491 /
92 / 93 / 66626666 |
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Fax No.: |
91-22-24227586 /
24362516 |
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E-Mail : |
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Website : |
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Corporate Office
1/ - Marketing Head Office (Copper) : |
Aditya Birla Centre, S. K. Ahire Marg, Worli, Mumbai –
400030, |
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Tel No.: |
91-22-66525000 / 24995000 |
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Fax No.: |
91-22-66525847 / 24995841 |
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Email : |
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Website: |
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Corporate
Office 2: |
Foil and Packaging Business, Kalwa Works, Thane Belapur
Road, Near Vitawa Village, Kalwa, Thane-400 605, Maharashtra, India |
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Tel. No.: |
91-22-25347151 |
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Fax No. : |
91-22-24227586 |
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Email : |
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Marketing
Office: |
Ahura Centre, 1st
Floor, 82, Mahakali Caves Road, Mumbai – 400093, Maharashtra, India |
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Tel. No.: |
91-22-66917142
/031 / 30 / 37 / 40 /00 |
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Fax No. : |
91-22-66917070 |
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Domestic Marketing
- West Zone |
264-265, Vasvani Chambers, 2nd Floor, Dr. Annie Besant Rd, Opposite Old Passport Office, Worli, Mumbai - 400 030, Maharashtra, India |
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Tel. No.: |
91-22-49204252 |
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Fax No. : |
91-22-49204500 |
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Email : |
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Regional
Office – Aluminum : |
Vandhana, 5th Floor ,11 Tolstoy Marg, New Delhi – 110001, India Tel No.: 91-11-42200204 / 228 / 230 / 271 / 200 Fax No.:91-11-23721595 Jeevan Deep, 2nd Floor 1, Middleton Street Kolkata – 700071, West Bengal, India Tel No.: 91-33-22809710 Fax No.:91-33-22886139 Industry House, 7th Floor, 45, Race Course Road, Bangalore – 560001, Karnataka, India Tel No.:91-80-4041 6010 / 21 / 22 / 00 |
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Principal
Office and Works / Renusagar Power Division : |
District
Sonbhadra, P. O. Renukoot – 231217, Mirzapur, Uttar Pradesh, India |
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Tel. No.: |
91-5446-252077-9/
272501-5 |
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Fax No.: |
91-5446-252107 /
252427/ 272382 |
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E-Mail : |
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Birla Copper
Division: |
P. O. Dahej,
Lakhigam, District Bharuch – 392130, Gujarat, India |
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Tel. No.: |
91-2641-256004-06/251009 |
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Fax No.: |
91-2641-251002-3 |
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E-Mail : |
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Foil and Wheels Division: |
Village Khutli,
Khanvel, Silvassa – 396230, |
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Tel. No.: |
91-260-2677021-4 |
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Fax No.: |
91-260-2677025 |
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Export Office: |
9/1, R. N.
Mukherjee Road, Kolkata – 700001, West Bengal, India |
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Tel. No.: |
91-33-22480949 /
22200464 |
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Fax No.: |
91-33-22200214 |
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Email: |
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Factory : |
ALUMINIUM
AND POWER Renukoot
Plant P.O. Renukoot -231217, District Sonbhadra, Uttar Pradesh,
India Tel No.:
91-5446-252077-9 Fax No.:91-5446-252107 Renusagar
Power Division P. O. Renusagar, District Sonbhadra, Uttar Pradesh, India Tel No.:
91-5446-272502-5 Fax No.:
91-5446272382 Hirakud
Smelter Hirakud 768 016, District Sambalpur, Orissa,
India Tel No.:
91-663- 2481307/1452 Fax No.:91-663-2481356 Hirakud
Power Post Box No.12, Hirakud 768 016, District: Sambalpur,
Orissa Alupuram, India Tel No.: 91-663-
2481307 Fax No.: 91-663- 2481342/365 Mahan Aluminium NH-75-E, Singrauli, Sidhi Road, P.O., Bargawan, District- Singaruli - 486886, Madhya Pradesh, India Tel No.: 07805281014 Aditya Aluminium Lapanga, District Sambalpur – 768212, Orissa, India Tel No.:91- 663-2114424 Fax No.: 91- 663-2590434 COPPER: Birla
Copper Division P.O. Dahej, Lakhigam Post, District. Bharuch – 392 130, Tel No.: 91-2641- 256004-06/ 251009 Fax No.:
91-2641- 251002-3 CHEMICALS: Muri
Alumina Post Chotamuri-835 101, District Ranchi,
India Tel No.: : 91-6522- 244396 Fax No.:
91-6522-244231 Village Yamanapur , Tel No.: 91-831-2472716 Fax No.:91-831-2472728 MINES Chandgad
Mines At Post: Chandgad – 416509, District: Kolhapur,
Maharashtra, India Tel/Fax: (02320) 213342 Durgmanwadi
Mines At Post Radhanagri, District: Kolhapur, Maharashtra – 416 212,
India Tel No.:
91-2321-260036 Fax No.:
91-2321-260037 Lohardaga
Mines District: Lohardaga – 835 302, Jharkhand, India Tel No.:
91-6526-224446 Fax No.:
91-6526-224446 Talabira
Mines Talabira-1, Qrs. No. A6/1, Saraswati Vihar, P.O. Sankarma,
District Sambalpur, Orissa, India Tel No.:
91-663-2230573 SHEET,
FOIL, WHEEL, PACKAGING AND EXTRUSIONS Foils and Wheels Division, Village Khutli, Khanvel,
Silvassa-396230, U.T., India Tel No.: 91-260-2677021/4 Fax No.: 91-260-2677025 Belur
Sheet 39, Grand Trunk Road, Belurmath 711 202, District: Howrah,
West Bengal, India Tel No.: 91-33-26547210 Fax No.:
91-33-26549982 Taloja
Sheet Plot 2, MIDC Industrial Area, Taloja A.V., District:
Raigad, Navi Mumbai – 410 208, Maharashtra, India Tel No. 91-22-27412261/
66292929 Fax No.:
91-22-27412430 Alupuram
Extrusions Alupuram, P.B. No.30, Kalamassery – 683 104, District:
Ernakulam, Kerala, India Tel No.:
91-484-2532441 Fax No.: 91-484- 2532468 Mouda
Unit Village Dahali, Tel No:
91-7115-660777/786 Kollur
Works Village- Kollur, Re Puram Mandal, Via Mutangi, Medak
District, Andhra Pradesh – 502 300, India Tel No::
91-8413- 234300/ 234204/05 Fax No.:
91-8455-288829 Hirakud FRP Hirakud, District – Sambalpur -– 768016, Orissa, India Tel No.:91-663-6625000 Fax No.:91-663-2481344 |
DIRECTORS
As on 31.03.2015
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Name : |
Mr. Debnaranyan Bhattacharya |
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Designation : |
Managing Director |
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Qualification : |
B. E. (Chemicals), IIT |
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Date of Birth : |
13.09.1948 |
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Date of Appointment : |
30.04.2003 |
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Name : |
Mr. Satish Pai, |
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Designation : |
Deputy Managing Director |
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Name : |
Mrs. Rajashree Birla |
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Designation : |
Non-Executive Director |
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Address : |
16-A, IL- Palazzo, Little Gibbs Road, Mumbai – 400 006, Maharashtra,
India |
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Date of Appointment : |
15.03.1996 |
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Name : |
Mr. Madhukar Manilal Bhagat |
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Designation : |
Non-Executive Directors |
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Name : |
Mr. Kailash Nath Bhandari |
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Designation : |
Non-Executive Directors |
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Name : |
Mr. Askaran K. Agarwala |
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Designation : |
Non-Executive Director |
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Address : |
“Haveli”, Flat No.3, L.D. Ruparel Marg, Mumbai – 400 006, Maharashtra,
India |
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Qualification : |
B.Com, F.C.A, LLB |
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Date of Birth : |
01.07.1993 |
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Date of Appointment : |
11.09.1998 |
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Name : |
Mr. Narendra Jamnadas Jhaveri |
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Designation : |
Non-Executive Directors |
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Name : |
Mr. Ram Charan |
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Designation : |
Non-Executive Directors |
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Name : |
Mr. Jagdish Khattar |
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Designation : |
Non-Executive Directors |
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Qualification : |
BA (Hons), LLB |
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Date of Birth : |
18.12.1942 |
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Date of Appointment : |
09.05.2011 |
KEY EXECUTIVES
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Name : |
Mr. Kumar Mangalam Birla |
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Designation : |
Chairman |
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Address : |
16-A, IL-Palazzo, Little Gibbs Road, Mumbai – 400 006, Maharashtra,
India |
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Qualification : |
A.C.A, M.B.A. |
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Date of Birth : |
14.06.1967 |
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Date of Appointment : |
16.11.1992 |
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Name : |
Mr. Anil Malik |
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Designation : |
Company Secretary |
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Name : |
Mr. Praveen
Maheshwari |
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Designation : |
Chief Financial Officer |
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CORPORATES : |
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Name : |
Mr. Bharat
Bhushan Jha |
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Designation : |
Senior President
(Corporate Projects and Procurement) |
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Name : |
Mr. Vineet Kaul |
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Designation : |
Chief People Officer |
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BUSINESS / UNIT HEAD: |
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Name : |
Mr. Jagdish Chandra Laddha |
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Designation : |
Group Executive President, Copper |
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Name : |
Mr. Sachin Satpute |
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Designation : |
Chief Marketing Officer,
Aluminium |
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Name : |
Mr. Satish Mohan Bhatia |
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Designation : |
Chief Marketing Offi cer, Aluminium |
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Name : |
Mr. Sanjay Sehgal |
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Designation : |
President (Chemicals) |
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Name : |
Mr. B. Arun Kumar |
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Designation : |
President (Operations) |
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NOVELIS INC |
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Name : |
Mr. Steve Fisher |
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Designation : |
CEO and CFO |
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Name : |
Mr. Debnarayan
Bhattacharya |
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Designation : |
Vice Chairman |
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UTKAL ALUMINA INTERNATIONAL LIMITED |
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Name : |
Mr. Vijay Sapra |
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Designation : |
President |
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ADITYA BIRLA MINERALS LIMITED |
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Name : |
Mr. Debnarayan Bhattacharya |
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Designation : |
Chairman |
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Name : |
Mr. N. M. Patnaik |
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Designation : |
CEO and MD |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2015
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
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(A) Shareholding of Promoter and Promoter Group |
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2398696 |
0.13 |
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745082362 |
39.06 |
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16316130 |
0.86 |
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16316130 |
0.86 |
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763797188 |
40.04 |
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Total shareholding of Promoter and Promoter Group (A) |
763797188 |
40.04 |
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(B) Public Shareholding |
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33863016 |
1.78 |
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56613666 |
2.97 |
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345520 |
0.02 |
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279935455 |
14.67 |
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443209388 |
23.23 |
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813967045 |
42.67 |
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100506090 |
5.27 |
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162613349 |
8.52 |
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14146452 |
0.74 |
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52625788 |
2.76 |
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11680827 |
0.61 |
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3982249 |
0.21 |
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4407792 |
0.23 |
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32554920 |
1.71 |
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329891679 |
17.29 |
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Total Public shareholding (B) |
1143858724 |
59.96 |
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Total (A)+(B) |
1907655912 |
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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|
14542309 |
0.00 |
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142787539 |
0.00 |
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157329848 |
0.00 |
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Total (A)+(B)+(C) |
2064985760 |
0.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is an integrated aluminum manufacturer, mines bauxite and refines it into alumina, subject’s other operations include the smelting of alumina into aluminum, the manufacture of semi-fabricated rolled and extruded products. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
Note: Working Capital Loan for Aluminium Business, granted under the Consortium Lending Arrangement, are secured by a first pari passu charge on entire stocks of raw materials, work-in-process, finished goods, consumable stores and spares and also book debts pertaining to the Company’s Aluminium business. Working Capital Loan of State Bank of India for the Copper business is secured by a first pari passu charge by way of hypothecation of stocks of raw materials, work-in-process, finished goods and consumable stores and spares and also book debts and other movable assets of Copper business, both present and future. During the year, the Company refinanced
Rupee Term Loans from Banks of Rs.69225.000
Million for Mahan Aluminium Project and extended the tenor of the loan. Term Loans from Banks of Rs.69225.000 Million is secured by a first ranking charge/mortgage/security interest in respect of all the movable assets of Mahan Aluminium Project (except Current Assets) and all the immovable properties of Mahan Aluminium Project, both present and future. Out of this loan, Rs.41535.000 Million carry interest at the AXIS Bank’s Base Rate plus 0.35% and balance loan Rs.27690.000 Million carryies interest at the State Bank of India’s base rate plus 0.50% and are repayable in 60 quarterly instalments commencing from 30th June, 2015, and ending on 31st March, 2030. The repayment in each financial year in percentage is 1, 1, 1, 3, 4, 6, 8, 8, 8, 10, 10, 10, 10, 10 and 10 of the loan amount. Term Loans from Banks of Rs.99000.000 Million is secured by a first ranking charge/mortgage/security interest in favour of the State Bank of India, in respect of all the movable and immovable properties of Aditya Aluminium Project, both present and future. However, security on entire immovable property including land is pending due to non-availability of approval from the appropriate authority. Above loan carry interest at the State Bank of India’s base rate plus 0.25% and is repayable in 34 quarterly instalments commencing from 1st June, 2015, and ending on 1st September, 2023. The repayment in each financial year in percentage is 2.32, 4.20, 6.20, 8.60, 9, 11.50, 16, 26 and 16.18 of the loan amount. The Company will have an option to
prepay all or any portion of this Loan without payment of Prepayment Penalty
within 30 (Thirty) days after any annual Interest Reset Date. Term Loans from Other Parties include Foreign Currency Term Loans from Export Development Canada (EDC) of USD 81.40 million are secured by a first charge on all moveable assets of the Mahan Aluminium Project and a second charge on the current assets of the Company, both present and future. Total loan of USD 100 million carry interest at the LIBOR plus 3.50% and are repayable in 43 quarterly instalments commencing from 30th June, 2013, and ending on 31st December, 2023. The repayment in each financial year in percentage is 9.30, 9.30, 9.30, 9.30, 9.30, 9.30. 9.30. 9.30, 9.30, 9.30 and 7 of the loan amount. Subject to the prevailing RBI ECB Regulations, the Company may prepay all or any part of the Loan at any time. Deferred Payment Liabilities represent sales tax deferral which is payable in yearly instalment by the FY 2018. |
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Financial Institution: |
Axis Trustee Services Limited, Axis House, 2nd Floor,
Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai – 400025,
Maharashtra, India |
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Auditors : |
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Name : |
Singhi and Company Chartered Accountants |
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Address : |
Kolkata, West Bengal, India |
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Cost Auditors : |
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Name : |
R. Nanabhoy and Company Cost Accountant |
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Address : |
Mumbai, Maharashtra India |
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Memberships : |
-- |
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Collaborators : |
-- |
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Enterprises where
control exists: |
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Subsidiaries: |
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Other
Related Parties: |
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Associates: |
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Joint
Ventures: |
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Trust
of the Company: |
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CAPITAL STRUCTURE
As on 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
2500000000 |
Equity Shares |
Re.1/- each |
Rs.2500.000 Million |
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Issued,
|
No. of Shares |
Type |
Value |
Amount |
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2065534028 |
Equity Shares |
Re.1/- each |
Rs.2065.500 Million |
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Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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2065526631 |
Equity Shares |
Re.1/- each |
Rs.2065.500
Million |
|
|
Less: Face Value of Equity Shares forfeited |
|
Rs.0.500 Million |
|
|
Add: Forfeited Shares (Amount originally Paid-up) |
|
Rs.0.200 Million |
|
|
Total |
|
Rs.2065.200 Million |
Shareholders
of the Company have approved increase in authorised equity share capital from
2,100,000,000
equity shares of Rs.1/- each to 2,500,000,000 equity shares of Rs.1/- each in Extra Ordinary General Meeting
held on 14th August, 2014.
Issued Equity Share Capital includes 7,397 Equity Shares (Previous year 7,397 Equity Shares) of Rs.1/- each
issued on Rights basis kept in
abeyance due to legal case pending.
Reconciliation of Shares Outstanding
at the beginning and at the end of the reporting period:
|
Equity Shares |
Number
of Shares |
Rs.
In Million |
|
Shares outstanding at the beginning of the year |
2064587868 |
2064.600 |
|
Shares allotted pursuant to exercise of ESOP |
392514 |
0.400 |
|
Equity Shares Outstanding at the end of the period |
2064980382 |
206.50 |
Rights, Preferences and Restrictions
attached to Equity Shares:
The Company has one class of equity shares having a par value of Rs.1/- per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.
Details of Shareholders holding more
than 5% Equity Shares in the Company on Reporting Date:
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
IGH Holdings Private Limited |
349963487 |
16.95 |
|
Turquoise Investment and Finance Limited |
124012468 |
6.01 |
|
Morgan Guaranty Trust Company of New York
(represents GDRs) |
159430288 |
7.72 |
|
Life Insurance Corporation of India and
its Associates |
228087441 |
11.05 |
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 |
2065.200 |
2064.800 |
1914.800 |
|
(b) Reserves & Surplus |
370487.400 |
365259.700 |
332396.000 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
5413.100 |
|
Total
Shareholders’ Funds (1) + (2) |
372552.600 |
367324.500 |
339723.900 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
229738.500 |
221085.800 |
204430.500 |
|
(b) Deferred tax liabilities (Net) |
17482.800 |
11743.100 |
11911.400 |
|
(c) Other long term
liabilities |
4746.300 |
8308.600 |
9742.800 |
|
(d) long-term
provisions |
4559.000 |
3419.600 |
3009.400 |
|
Total Non-current Liabilities
(3) |
256526.600 |
244557.100 |
229094.100 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
56755.300 |
42583.700 |
37017.200 |
|
(b) Trade
payables |
36516.500 |
43837.500 |
30440.500 |
|
(c) Other current
liabilities |
26781.300 |
29019.100 |
19240.900 |
|
(d) Short-term
provisions |
10874.100 |
10377.600 |
10669.000 |
|
Total Current
Liabilities (4) |
130927.200 |
125817.900 |
97367.600 |
|
|
|
|
|
|
TOTAL |
760006.400 |
737699.500 |
666185.600 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
260358.700 |
180249.800 |
70710.000 |
|
(ii)
Intangible Assets |
240.200 |
297.300 |
266.500 |
|
(iii) Capital
work-in-progress |
107436.100 |
172771.300 |
236051.100 |
|
(iv)
Intangible assets under development |
0.000 |
1.000 |
0.100 |
|
(b) Non-current Investments |
147817.500 |
153124.500 |
140501.700 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
14547.300 |
11611.500 |
16810.800 |
|
(e) Other
Non-current assets |
314.400 |
125.200 |
345.100 |
|
Total Non-Current
Assets |
530714.400 |
518180.600 |
464685.300 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
64689.300 |
65950.100 |
64319.600 |
|
(b)
Inventories |
88212.300 |
89145.800 |
77026.100 |
|
(c) Trade
receivables |
18321.800 |
12836.500 |
15150.400 |
|
(d) Cash
and cash equivalents |
9841.800 |
11631.700 |
14978.200 |
|
(e) Short-term
loans and advances |
38796.700 |
32264.000 |
22617.300 |
|
(f) Other
current assets |
9430.100 |
7690.800 |
7408.700 |
|
Total
Current Assets |
229292.000 |
219518.900 |
201500.300 |
|
|
|
|
|
|
TOTAL |
760006.400 |
737699.500 |
666185.600 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
345250.300 |
278509.300 |
260569.300 |
|
|
|
Other Income |
8822.100 |
11244.200 |
9830.900 |
|
|
|
TOTAL (A) |
354072.400 |
289753.500 |
270400.200 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
370.400 |
0.300 |
3.800 |
|
|
|
Cost of Materials Consumed |
210562.900 |
188042.800 |
171365.100 |
|
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
678.100 |
(6762.100) |
1279.400 |
|
|
|
Employees benefits expense |
15894.800 |
13461.000 |
12008.000 |
|
|
|
Impairment Loss/(Reversal)
(Net) |
0.000 |
0.000 |
172.500 |
|
|
|
Power and Fuel |
52007.700 |
35576.100 |
30730.400 |
|
|
|
Other expenses |
31571.200 |
23272.400 |
23145.400 |
|
|
|
Exceptional Items |
5777.000 |
3959.800 |
0.000 |
|
|
|
TOTAL
(B) |
316862.100 |
257550.300 |
238704.600 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
37210.300 |
32203.200 |
31695.600 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
16370.900 |
7116.500 |
4359.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
20839.400 |
25086.700 |
27335.800 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8370.300 |
8232.900 |
6869.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
12469.100 |
16853.800 |
20466.300 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3217.500 |
2720.500 |
3474.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
9251.600 |
14133.300 |
16992.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
7500.000 |
7500.000 |
4000.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Debenture Redemption Reserve |
1500.000 |
1500.000 |
1500.000 |
|
|
|
General Reserve |
0.000 |
10559.700 |
8994.800 |
|
|
|
Proposed Dividend |
2065.200 |
2064.600 |
2680.500 |
|
|
|
Corporate Dividend Tax |
392.900 |
9.000 |
316.700 |
|
|
BALANCE CARRIED
TO THE B/S |
12793.500 |
7500.000 |
7500.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
133344.500 |
82919.500 |
75715.500 |
|
|
TOTAL EARNINGS |
133344.500 |
133344.500 |
82919.500 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
175713.900 |
157574.700 |
160752.500 |
|
|
|
Coal and Fuel |
6528.900 |
1730.300 |
4011.900 |
|
|
|
Stores and Spares |
736.600 |
985.900 |
724.300 |
|
|
|
Capital Goods |
1406.400 |
3517.800 |
17738.300 |
|
|
|
Trading Goods |
370.400 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
184756.200 |
163808.700 |
183227.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
4.48 |
7.09 |
8.88 |
|
|
|
Diluted |
4.48 |
7.09 |
8.87 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
3571.900 |
6526.400 |
3628.200 |
|
Cash generated from operations |
12790.800 |
22684.600 |
2840.000 |
|
Net cash flow from operating activity |
10292.700 |
20313.700 |
2031.37 |
QUARTERLY RESULTS
|
Particulars |
30.06.2015 |
30.09.2015 |
|
UnAudited |
1st Quarter |
2nd Quarter |
|
Net Sales |
85752.700 |
89246.000 |
|
Total Expenditure |
76979.300 |
83217.800 |
|
PBIDT (Excl OI) |
8773.400 |
6028.200 |
|
Other Income |
1944.200 |
4175.400 |
|
Operating Profit |
10717.600 |
10203.600 |
|
Interest |
6016.800 |
6159.500 |
|
Exceptional Items |
NA |
NA |
|
PBDT |
4700.800 |
4044.100 |
|
Depreciation |
3319.900 |
2958.300 |
|
Profit Before Tax |
1380.900 |
1085.800 |
|
Tax |
309.000 |
53.100 |
|
Provisions and contingencies |
NA |
NA |
|
Profit After Tax |
1071.900 |
1032.700 |
|
Extraordinary Items |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
|
Other Adjustments |
NA |
NA |
|
Net Profit |
1071.900 |
1032.700 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT/Sales) |
(%) |
2.68 |
5.07 |
6.52 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
10.78 |
11.56 |
12.16 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.04 |
4.09 |
7.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.05 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.78 |
0.74 |
0.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.75 |
1.74 |
2.07 |
STOCK
PRICES
|
Face Value |
Rs.1/- |
|
Market Value |
Rs.77.50/- |
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 |
1914.800 |
2064.800 |
2065.200 |
|
Reserves & Surplus |
332396.000 |
365259.700 |
370487.400 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
5413.100 |
0.000 |
0.000 |
|
Net
worth |
339723.900 |
367324.500 |
372552.600 |
|
long-term borrowings |
204430.500 |
221085.800 |
229738.500 |
|
Short term borrowings |
37017.200 |
42583.700 |
56755.300 |
|
Current Maturities of
Long-Term Debts |
3628.200 |
6526.400 |
3571.900 |
|
Total
borrowings |
245075.900 |
270195.900 |
290065.700 |
|
Debt/Equity
ratio |
0.721 |
0.736 |
0.779 |
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 |
260569.300 |
278509.300 |
345250.300 |
|
|
|
6.885 |
23.964 |
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 |
260569.300 |
278509.300 |
345250.300 |
|
Profit |
16992.000 |
14133.300 |
9251.600 |
|
|
6.52% |
5.07% |
2.68% |
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 |
No |
|
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 |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
|
CASE DETAILS BENCH:-BOMBAY
|
MANAGEMENT DISCUSSION AND ANALYSIS
Position for the first time in seven years. The average aluminium LME price for the year was around 6% higher than financial year 2014. On the othe hand, copper LME price was around 8% lower than the previous year due to slowdown in Chinese demand growth and higher mining output. Aluminium realisations were strong on the back of supportive LME and high regional premium. The average premium at $ 390(MJP) was almost 47%
higher than financial year 2014.
Business Overview
Financial Year 15 was a mixed year for the Global economy. The US economy continued to be resilient and grew at around 2%, while Chinese growth momentum continued its downward trajectory with the economy growing at 7.4% as compared with double digit growth during the last decade. The rest of the developed world grew at a moderate pace amidst various hiccups on the economic front, viz. Middle East crisis, oil crash, Euro zone uncertainty etc., to name a few. Growth found support in easy money policies adopted by several central banks such as ECB, US Fed, BOJ and Chinese central bank.
The emerging markets trudged along their recovery path struggling to gain momentum throughout FY15. India was no exception. The recovery has been slow but is expected to gain momentum as the reforms start showing their impact.
The commodity sector was also a mixed
bag. Aluminium fundamentals improved in 2014, with large-scale smelting
curtailments by global majorssupporting aluminium price recovery, and the
global primary aluminium industry swinging back to a defi cit position for the
first time in seven years. The average aluminium LME price for the year was around
6% higher than FY14. On the other hand, copper LME price was around 8% lower
than the previous year due to slowdown in Chinese demand growth and higher
mining output. Aluminium realisations were strong on the back of supportive LME
and high regional premium. The average premium at $ 390(MJP) was almost 47%
higher than FY14.
Strong demand, attractive financing
deals on account of lower interest rates and strong contango and supply
curtailments led to an unprecedented rise in aluminium premium.
While the crude prices witnessed a
sharp decline during the year, in India, coal prices increased substantially
with rising demand and shortage of coal; the acuteness of shortage was
accentuated by regulatory developments and infrastructure bottlenecks.
FY15 was an extremely challenging
year for the Company. Even as the three greenfi eld and three brownfi eld
projects continued their ramp up, braving the teething troubles and coal
sourcing challenges (Aditya and Mahan), the Supreme Court ruling that led to
deallocation of the coal blocks posed a serious challenge from a long term
perspective.
The deallocation of all the coal
blocks was a major setback for the Company. This not only created uncertainty
over the availability and cost dynamics of the new smelter projects, but also
made the rationale behind the choice of smelter locations void. The existing
smelter at Hirakud also lost its access to Talabira-I captive coal block from
April 2015. While the economics of Aluminium smelters has been affected by
deallocation of coal blocks, the bauxite value chain continued to play its part
as per the plan; and Utkal alumina project is delivering world-class alumina at
a very competitive cost.
Outlook
The commodity markets, and in particular the aluminium industry, are going through a challenging phase at present because of the sharp slide in realizations. This would impact the Company’s performance in the near term. Nevertheless, on the back of the addition of world-class assets in the recent years, the Company is well poised to ride the structural growth trends such as increasing urbanization, light-weighting of vehicles and growth in emerging markets.
Business Performance
Review:
Industry Review:
Aluminium has widespread uses throughout the economy and is equally important to both the industrial and consumer sectors. On the industrial side, aluminium is heavily used in electrical power transmission, machinery and equipment, and construction. Housing, in particular, makes heavy use of the lightweight material as a substitute for steel and wood in doors, windows and siding. On the consumer side, aluminium is used in a variety of retail products, including cans, packaging, air conditioners, furniture and vehicles.
In addition, there is major transformation underway in the automotive industry, which is positive for aluminium consumption. The automotive sector is expected to use more aluminium in the production of passenger and commercial vehicles. The regulatory pressures for lighter and more fuel-efficient cars have driven auto makers and aluminium producers to invest in newer adhesive technology. As a result, over the past five years considerable progress has been made in aluminium-intensive vehicle production.
UNSECURED LOAN
|
PARTICULARS |
31.03.2015 (Rs.
In Million) |
31.03.2014 (Rs.
In Million) |
|
Long-term
Borrowings |
|
|
|
Deferred Payment Liabilities |
10.000 |
13.300 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
From Banks: |
|
|
|
Buyer’s Credit |
13593.900 |
19277.500 |
|
Packing Credit |
42589.400 |
23194.000 |
|
Cash Credit |
149.800 |
0.000 |
|
|
|
|
|
Total |
56343.100 |
42484.800 |
STATEMENT OF
STANDALONE UNAUDITED RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30.09.2015
(Rs.
In Million)
|
|
|
Particulars |
Quarter Ended 30.09.2015 |
Quarter Ended 30.06.2015 |
Half Year Ended 30.09.2015 |
|
1 |
|
Revenue from
Operations |
89246.000 |
85752.700 |
174998.700 |
|
|
|
a) Net Sales |
88408.600 |
85172.900 |
173581.500 |
|
|
|
b) Other Operating Income |
837.400 |
579.800 |
1417.200 |
|
|
Total Income from
Operations (Net) |
86176.100 |
80299.200 |
166475.300 |
|
|
2 |
Expenses |
|
|
|
|
|
|
a) |
Cost of Materials consumed |
46217.400 |
52310.400 |
98527.800 |
|
|
b) |
Purchases of Stock |
17.300 |
0.000 |
17.300 |
|
|
b) |
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
6777.100 |
(3420.600) |
3356.500 |
|
|
c) |
Employee benefit expenses |
4463.700 |
3804.700 |
8268.400 |
|
|
d) |
Power and Fuel |
16821.300 |
16441.500 |
33262.800 |
|
|
e) |
Depreciation and amortization expense |
2958.300 |
3319.900 |
6278.200 |
|
|
f) |
Other expenses |
8921.000 |
7843.300 |
16764.300 |
|
|
|
|
|
|
|
|
3 |
|
Profit /(Loss) from
operations before other income, finance costs and exceptional items |
3069.900 |
5453.500 |
8523.400 |
|
4 |
Other Income |
4175.400 |
1944.200 |
6119.600 |
|
|
5 |
Profit /(Loss) from
ordinary activities before finance costs and exceptional items |
7245.300 |
7397.700 |
14643.000 |
|
|
6 |
Finance Costs |
6159.500 |
6016.800 |
12176.300 |
|
|
7 |
Profit /(Loss) from
ordinary activities after finance costs but before exceptional items |
1085.800 |
1380.900 |
2466.700 |
|
|
8 |
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
|
9 |
Profit /(Loss) from
ordinary activities before tax |
1085.800 |
1380.900 |
2466.700 |
|
|
10 |
Tax Expense |
53.100 |
309.000 |
362.100 |
|
|
11 |
Net Profit /(Loss)
from ordinary activities after tax |
1032.700 |
1071.900 |
2104.600 |
|
|
12 |
Paid up equity share capital (Eq. shares of Re.1/- each) |
2065.200 |
2065.200 |
2065.200 |
|
|
13 |
Reserve excluding revaluation reserves |
|
|
|
|
|
14 |
|
Earnings per share (before/after extraordinary items) of Rs.1/- each |
0.50 |
0.52 |
1.02 |
|
|
|
Basic & Diluted |
0.50 |
0.52 |
1.02 |
|
|
|
|
|
|
|
|
A |
|
PARTICULARS OF
SHAREHOLDING |
|
|
|
|
1 |
|
Public Shareholding |
|
|
|
|
|
|
- No. of Shares |
1143858724 |
1142916731 |
1143858724 |
|
|
|
- Percentage of Shareholding |
55.39% |
55.35% |
55.39% |
|
2 |
|
Promoters and promoter group shareholding |
|
|
|
|
|
|
a) Pledged/Encumbered |
|
- |
|
|
|
|
- Number of shares |
|
- |
|
|
|
|
- Percentage of shares ( as a % of the total shareholding of the promoter and promoter group) |
|
- |
|
|
|
|
- Percentage of shares (as a % of the total share capital of the Company) |
|
- |
|
|
|
|
b) Non- encumbered |
|
|
|
|
|
|
- Number of shares |
763797188 |
763797188 |
763797188 |
|
|
|
- Percentage of shares ( as a % of the total shareholding of the promoter and promoter group) |
100.00% |
100.00% |
100.00% |
|
|
|
- Percentage of shares (as a % of the total share capital of the Company) |
36.99% |
36.99% |
36.99% |
|
INVESTORS COMPLAINTS |
Quarter Ended 30.09.2015 |
|
Pending at the beginning of the quarter |
Nil |
|
Received during the quarter |
4 |
|
Disposed of during the quarter |
4 |
|
Remaining unresolved at the end of the
quarter |
Nil |
STANDALONE SEGMENT-WISE
REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE QUARTER AND SIX MONTHS ENDED 30TH
SEPTEMBER, 2015
(Rs.
In Million)
|
Sr. No. |
Particular |
Quarter Ended (Unaudited) |
Quarter Ended (Unaudited) |
Half Year Ended (Unaudited) |
|
|
|
30.09.2015 |
30.06.2015 |
30.09.2015 |
|
|
|
|
|
|
|
1. |
Segment Revenue |
|
|
|
|
|
|
41728.200 |
39655.800 |
81384.000 |
|
|
b. Copper |
47573.400 |
46140.600 |
93714.000 |
|
|
Less: Inter
Segment Revenue |
(55.600) |
(43.700) |
(99.300) |
|
|
Revenue from
Operations |
89246.000 |
85796.400 |
174998.700 |
|
2. |
Segment Result |
|
|
|
|
|
|
291.100 |
2535.800 |
2826.900 |
|
|
b. Copper |
3503.300 |
3435.500 |
6938.800 |
|
|
|
3794.400 |
5971.300 |
9765.700 |
|
|
Less : i. Finance Costs |
(6159.500) |
(6016.800) |
(12176.300) |
|
|
Add: Other Unallocated Items and Tax |
(2365.100) |
(45.500) |
(2410.600) |
|
|
Profit before Exceptional Items and Tax |
3450.900 |
1380.900 |
2466.700 |
|
|
Exceptional Items |
-- |
- |
-- |
|
|
Profit before Tax |
1085.800 |
1380.900 |
2466.700 |
|
|
|
|
|
|
|
3. |
Capital Employed |
|
|
|
|
|
|
|
|
|
|
|
|
392536.300 |
393253.200 |
392536.300 |
|
|
b. Copper |
58981.600 |
56854.400 |
58981.600 |
|
|
|
451517.900 |
450107.600 |
451517.900 |
|
|
Unallocated Corporates |
231819.400 |
226398.600 |
231819.400 |
|
|
Total Capital
employed in the Company |
683337.300 |
676506.200 |
683337.300 |
STATEMENT OF
ASSETS AND LIABILITIES
(Rs.
In Million)
|
SOURCES
OF FUNDS |
30.09.2015 |
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
(1)Shareholders' Funds |
|
|
(a) Share Capital |
2065.200 |
|
(b) Reserves & Surplus |
375953.900 |
|
(c) Money received against
share warrants |
0.000 |
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
378019.100 |
|
|
|
|
(3) Non-Current Liabilities |
|
|
(a) long-term borrowings |
230058.000 |
|
(b) Deferred tax liabilities
(Net) |
17844.900 |
|
(c) Other long term
liabilities |
9177.800 |
|
(d) long-term provisions |
4845.700 |
|
Total
Non-current Liabilities (3) |
261926.400 |
|
|
|
|
(4) Current Liabilities |
|
|
(a) Short term borrowings |
55128.200 |
|
(b) Trade payables |
35190.500 |
|
(c) Other current liabilities |
22369.100 |
|
(d) Short-term provisions |
4186.300 |
|
Total
Current Liabilities (4) |
116874.100 |
|
|
|
|
TOTAL |
756819.600 |
|
|
|
|
II.
ASSETS |
|
|
(1) Non-current assets |
|
|
(a) Fixed Assets |
|
|
(i) Tangible assets |
367689.700 |
|
(ii) Intangible Assets |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
|
(b) Non-current Investments |
148403.600 |
|
(c) Deferred tax assets (net) |
0.000 |
|
(d) Long-term Loan and Advances |
15205.700 |
|
(e) Other Non-current assets |
2054.700 |
|
Total
Non-Current Assets |
533353.700 |
|
|
|
|
(2) Current assets |
|
|
(a) Current investments |
61138.300 |
|
(b) Inventories |
86463.100 |
|
(c) Trade receivables |
19360.600 |
|
(d) Cash and cash equivalents |
4456.200 |
|
(e) Short-term loans and
advances |
35999.900 |
|
(f) Other current assets |
16047.800 |
|
Total
Current Assets |
223465.900 |
|
|
|
|
TOTAL |
756819.600 |
Notes:
1. Other Income during quarter and six months ended
September 30, 2015 includes income of non-recurring nature of Rs.1190.000
Million (Previous year corresponding quarter Rs. Nil and six months Rs. 19.500
Million).
2. The Company has received a letter dated October 05, 2015 from Odisha Mining
Corporation Limited (OMC) to terminate joint venture agreement dated October
25, 2005 for development of Kodingamali Bauxite Deposit and wind up joint
venture company (viz. East Coast Bauxite Mining Company Private Limited, a
subsidiary of the Company). The Company is exploring further course of action
in this matter and impact, if any, arising on this is unascertainable.
3. The above results have been reviewed by the Audit Committee and approved at
the meeting of the Board of Directors held on November 10, 2015. Limited Review
has been carried out by the statutory auditors of the Company.
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10566318 |
17/04/2015 * |
69,230,000,000.00 |
Axis Trustee
Services Limited |
Axis House, 2nd
Floor, Bombay Dyeing Mills Compound, |
C52306834 |
|
2 |
10485778 |
13/03/2014 |
99,000,000,000.00 |
State Bank of
India |
State Bank
Bhavan, Madam Cama Road, Mumbai, Maharashtra - 400021, INDIA |
C00807917 |
|
3 |
10435421 |
25/06/2013 |
15,000,000,000.00 |
SBICAP TRUSTEE
COMPANY LIMITED |
202 Maker Tower "E"
Cuffe Parade, Colaba, MUMBAI, |
B79008140 |
|
4 |
10390692 |
07/12/2012 |
5,500,000,000.00 |
SBICAP TRUSTEE
COMPANY LIMITED |
202, MAKER
TOWER, E CUFFE PARADE, COLABA, MUMBAI, Maharashtra - 400005, INDIA |
B63619084 |
|
5 |
10376091 |
14/05/2013 * |
15,000,000,000.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
Asian Bldg.,
Ground Floor, 17, R.Kamani Marg,, Ballard Estate,, MUMBAI, Maharashtra -
400001, INDIA |
B78583887 |
|
6 |
10372704 |
14/05/2013 * |
15,000,000,000.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
Asian Bldg.,
Ground Floor, 17, R.Kamani Marg,, Ballard Estate,, MUMBAI, Maharashtra -
400001, INDIA |
B78582681 |
|
7 |
10360308 |
14/05/2013 * |
30,000,000,000.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
Asian Bldg., Ground
Floor, 17, R.Kamani Marg,, Ballard Estate,, MUMBAI, Maharashtra - 400001,
INDIA |
B78581881 |
|
8 |
80059220 |
09/12/2004 |
1,000,000,000.00 |
Bank of
Maharashtra |
Lok Mangal,
1501, Shivaji Nagar, Pune, Maharashtra - 411005, INDIA |
- |
|
9 |
90218583 |
30/09/2004 |
4,900,000,000.00 |
STATE BANK OF
INDIA |
CORPORATE
ACCOUNTS GROUPS BRANCH, VOLTAS HOUSE; 23; J. N. HERDIA MARG; BALLARD ESTAT,
MUMBAI, Maharashtra - 400001, INDIA |
- |
|
10 |
90218478 |
24/12/2003 * |
1,000,000,000.00 |
STATE BANK OF INDIA |
SECURITIES AND
SERVICES DIVISION; MUMJBAI MAIN BR. |
- |
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
|
a) Claims against the Company not acknowledged as debt: |
|
|
|
Demand of interest on past dues of the Aluminium Regulation account up to 31st December, 1987. |
63.300 |
63.300 |
|
Retrospective Revision of Water Rates by UP Jal Vidyut Nigam Limited (April 1989 to June 1993 & January 2000 to January 2001). |
40.800 |
40.800 |
|
Transit fees levied by Divisional Forest Offi cer, Renukoot, on Coal and Bauxite. |
1176.300 |
1066.500 |
|
M. P. Transit Fee on Coal demanded by Northern Coal Fields Limited. |
245.100 |
237.700 |
|
Imposition of Cess on Coal by Shaktinagar Special Area Development Authority. |
39.800 |
111.700 |
|
Demand of Royalty on Vanadium by District Mining Officer, Lohardaga. |
79.600 |
79.600 |
|
The demand of Excise Duty on gold |
1553.100 |
1553.100 |
|
Demand raised on assessment under CST Act and UP Sales Tax Act. |
- |
63.900 |
|
Revision of surface rent on land by Government of Jharkhand w.e.f. 16th June, 2005. |
299.700 |
261.800 |
|
Demand made by Nayab Tehsildar Kusmi/Collector under Chhattisgarh as per Adhosanrachna Vikas evam Parayavaran Upkar Adhiniyam, 2005 @ 5% as environment tax on royalty plus 5% as development tax. |
73.700 |
66.000 |
|
Service tax paid on Goods Transport Agency and Business Auxiliary Services. |
112.700 |
112.700 |
|
M.P. Transit Fee on Bauxite. |
13.000 |
13.000 |
|
Demand for Entry Tax relating to valuation dispute of 2004-05 to 2005-06, for which appeals have been fi led. |
11.800 |
11.800 |
|
CST demand on reopening of assessments for 1999-00 to 2003-04. |
50.100 |
88.100 |
|
Demand of penalty on excess CENVAT Credit taken. |
1.000 |
10.900 |
|
Demand for Sales Tax u/s 15B for A.Y. 2001-02 and 2002-03. |
79.600 |
79.600 |
|
Service Tax on insurance policy attributable to Renusagar. |
39.700 |
39.700 |
|
Disallowance of CENVAT credit. |
52.900 |
52.900 |
|
Demand raised on assessment under CST Act and APGST Act for various years. |
58.900 |
57.700 |
|
Demand for Service Tax on Consulting Engineer Services and Scientifi c and Tech Service. |
38.400 |
38.400 |
|
Excise Duty on Dross. |
- |
197.800 |
|
Alleged Cenvat taken without receipt of Alumina Hydrate inside the factory. |
34.600 |
34.600 |
|
Alleged CENVAT availed on the Input services at captive Mines. |
360.500 |
360.500 |
|
CENVAT of Service Tax Credit availed on Supplementary Invoices. |
110.500 |
31.200 |
|
Clearence of Silver at Nil Rate of Duty under Notifi cation No.5/2006. |
- |
8.96 |
|
Excess rebate has been sanctioned to the extent duty paid by supplementary invoices |
50.800 |
50.800 |
|
Disallowance of CENVAT on input services. |
77.400 |
67.900 |
|
Parallel operation charges on capacity of Captive Power Plant by Madhya Pradesh Electricity Regulatory Commission. |
- |
70.500 |
|
Water Tariff revision demand for previous years. |
108.600 |
- |
|
Demand for Sales Tax under KVAT Act 2003 for Tax period 2011-2012 and 2012-13. |
164.600 |
- |
|
Demand for Sales Tax under MPVAT Act, 2002, for Tax period 2010-11. |
76.400 |
- |
|
Demand for Sales Tax under CST Act, 1969, for Tax Period 2009-10 |
12.100 |
- |
|
Other Contingent Liabilities in respect of Excise, Customs, Sales Tax, etc., each being for less than Rs.10.000 Million. |
177.200 |
155.100 |
|
b) Corporate Guarantees Outstandings |
52707.600 |
52870.300 |
WEBSITE DETAILS
PRESS RELEASES/
NEWS
Hindalco seeks shareholders' nod to raise up to Rs.60000.000 Million
"Consent is sought to offer or invite subscription to non convertible debentures up to an amount not exceeding Rs 60000.000 Million on private placement basis from time to time until September 15, 2016," Hindalco said in a BSE filing.
Aluminium maker Hindalco Industries seeks its shareholders' approval to raise up to Rs.60000.000 Million through issuance of non convertible debentures (NCDs) on private placement basis.
"Consent is sought to offer or invite subscription to non convertible
debentures up to an amount not exceeding Rs 60000.000 Million on private
placement basis from time to time until September 15, 2016," Hindalco said
in a BSE filing.
Hindalco said its Board will consider raising funds in one or more series/
tranches.
The company's AGM will be held on September 16. Shares of Hindalco were trading
at Rs.80.15, down 0.68 percent, on the BSE in the morning trade.
Hindalco stock price
On September 14, 2015, Hindalco Industries closed at Rs 78.70, up Rs 2.60, or 3.42
percent. The 52-week high of the share was Rs 176.40 and the 52-week low was Rs
71.30.
The company's trailing 12-month (TTM) EPS was at Rs 3.41 per share as per the
quarter ended June 2015. The stock's price-to-earnings (P/E) ratio was 23.08.
The latest book value of the company is Rs 180.41 per share. At current value,
the price-to-book value of the company is 0.44.
FIXED ASSETS
- Leasehold Land
- Freehold Land
- Buildings
- Plant and Equipment
- Furniture and Fixtures
- Vehicles and Aircraft
- Office Equipment
- Railway Sidings
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 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.66.81 |
|
UK Pound |
1 |
Rs.100.36 |
|
Euro |
1 |
Rs.70.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SUD |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
74 |
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.