MIRA INFORM REPORT
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Report No. : |
353262 |
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Report Date : |
08.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
AMBUJA CEMENTS
LIMITED |
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Registered
Office : |
P.O. Ambuja Nagar, Talika Kodinar, Amreli District, Junagadh – 362715,
Gujarat |
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Tel No : |
91-2795-237000 |
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Country : |
India |
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Financials (as
on) : |
31.12.2014 |
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Date of
Incorporation : |
20.10.1981 |
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Com. Reg. No.: |
04-004717 |
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Capital
Investment / Paid-up Capital : |
Rs. 3099.500 Million |
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CIN No.: [Company Identification
No.] |
L26942GJ1981PLC004717 |
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IEC No.: |
2488000337 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACG0569P |
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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 Cement (Confirmed by management) |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Aaa (90) |
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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 |
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Status : |
Excellent Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having excellent
track. It is among the most efficient cement players in the country. The
company’s products are well received in the market. It has strong market
position. The rating on company reflects strong financial risk profile, robust
capital structure, healthy operational activities characterised by strong
profit margins along with above average debt protection metrics. Moreover, rating gain strength on company market position is further
strengthened by its operational linkages with ACC. Along with ACC the group
has a majority of share in the Indian cement market. Furthermore, cyclical downturns in the cement industry will result in
slow offtake and bringing down the operating rates weakening the rating
strength of the company. Trade relations are fair. Business is active. Payment terms are
reported to be regular and as per commitments. In the view of aforesaid, 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating AAA |
|
Rating Explanation |
Highest degree f safety and carry lowest credit risk. |
|
Date |
January 07, 2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
January 07, 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 DECLINED
Management Non-Cooperative (Tel No.:91-2795-237000)
LOCATIONS
|
Registered Office/Factory : |
P.O. Ambuja Nagar, Talika Kodinar, Amreli District, Junagadh – 362715,
Gujarat |
|
Tel. No.: |
91-2795-237000 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Head Office: |
Elegant Business Park, Behind Kotak Mahindra Bank, MIDC Cross Road ‘B’, Off Andheri - Kurla Road, Andheri (East), Mumbai 400 059. Maharashtra, India |
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Tel No.: |
91-22-66167000 / 40667000 |
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Website.: |
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Corporate Office : |
Elegant Business Park, MIDC Cross Road “B”, Off Andheri – Kurla Road,
Andheri (East), Mumbai – 400059, Maharashtra, India |
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Plant : |
Located at:
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Grinding Stations: |
Located at:
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Bulk Cement
Terminals: |
Located at:
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DIRECTORS
As on : 31.12.2014
|
Name : |
Mr. Narotam Satyanarayan Sekhsaria |
|
Designation : |
Director / Chairman |
|
Address : |
Bhagwati Bhavan, 31 B Carmichael Road, Behind Jaslok Hospital, Cumballa Hill, Mumbai - 400026, Maharashtra, India |
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Date of Appointment : |
10.11.1982 |
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DIN No.: |
00276351 |
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Name : |
Mr. Bernard Terver |
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Designation : |
Vice Chairman / Director |
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Name : |
Mr. Nasser Munje |
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Designation : |
Director |
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Address : |
Benedict Villa, House No.471, Saud Vaddo, Chorao Island, Tiswadi - 403102, Goa, India |
|
Date of Appointment : |
16.08.2001 |
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DIN No.: |
00010180 |
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Name : |
Mr. Rajendra P. Chitale |
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Designation : |
Director |
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Address : |
131/B, Tanna Residency Bayview, Opposite Siddhi, Vinayak Temple, 392, V. S. Marg, Prabhadevi, Mumbai - 400025, Maharashtra, India |
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Date of Appointment : |
04.07.2006 |
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DIN No.: |
00015986 |
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Name : |
Mr. Shailesh Haribhakti |
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Designation : |
Director |
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Address : |
10 and 11 Sahil Apartment, S K Barodawala Road, 14 Altamount Road, Cumballa Hill, Mumbai - 400026, Maharashtra, India |
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Date of Appointment : |
03.05.2006 |
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DIN No.: |
00007347 |
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Name : |
Dr. Omkar Goswami |
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Designation : |
Director |
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Address : |
E-121, Masjid Moth, First Floor, Greater Kailash-III, New Delhi, 110048, India |
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Date of Appointment : |
20.07.2006 |
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DIN No.: |
00004258 |
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Name : |
Mr. Haigreve Khaitan |
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Designation : |
Director |
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Address : |
1104 Sterling Seaface, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India |
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Date of Appointment : |
27.07.2012 |
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DIN No.: |
00005290 |
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Name : |
Ms. Usha Sangwan (w.e.f. 24.04.2014) |
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Designation : |
Director |
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Date of Birth: |
01.10.1958 |
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Address: |
A-5, Jeevan Jyot, Napeansea Road, Mumbai - 400036, Maharashtra, India |
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Qualification: |
Master’s Degree in Economics and a Post Graduate Diploma in Human Resource Management. |
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Date of Appointment: |
24.04.2014 |
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DIN No.: |
02609263 |
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|
|
Name : |
Mr. Bhanwarlal Jivanmal Taparia |
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Designation : |
Director |
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Date of Birth: |
05.07.1950 |
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Address : |
301,Saraswati Darshan , Link Road, Bangurnagar ,Goregaon (West), Mumbai - 400090, Maharashtra, India |
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Qualification: |
B.com, LL.B., F.C.S. |
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Date of Appointment: |
01.09.2012 |
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DIN No.: |
00016551 |
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|
Name : |
Mr. Ajay Rapur |
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Designation : |
Managing Director |
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Address : |
No. 2, Southlands, S. B. Singh Road, Colaba, Mumbai - 400005, Maharashtra, India |
|
Date of Appointment : |
25.07.2013 |
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DIN No.: |
03096416 |
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|
|
|
Name : |
Eric Carl Olsen |
|
Designation : |
Additional Director |
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Address : |
10 Rue Eugene Labiche, Paris, 75116, France |
|
Date of Appointment : |
27.07.2015 |
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DIN No.: |
07238383 |
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|
|
|
Name : |
Bernard Gerard Marcel Terver |
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Designation : |
Nominee Director |
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Address : |
Seestrasse 153A, Kilchberg, 8802, Switzerland |
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Date of Appointment : |
04.12.2013 |
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DIN No.: |
06771125 |
KEY EXECUTIVES
|
Name : |
Mr. Suresh Neotia |
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Designation : |
Chairman Emeritus |
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|
Name : |
Mr. Sanjeev Churiwala |
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Designation : |
Chief Financial Officer |
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Address: |
"VARSHA" Flat No. B/14-15, The Santacruz Varsha, CHS Limited, Gulmohar Cross Road No. 4, Vile Parle (West), Mumbai - 400049, Maharashtra, India |
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Date of Appointment : |
01.04.2014 |
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PAN No.: |
ACSPC9027B |
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|
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Name : |
Mr. Vilas Deshmukh |
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Designation : |
Chief Manufacturing Officer |
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Name : |
Mr. Sanjay Gupta |
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Designation : |
Chief Marketing Officer |
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Name : |
Mr. Vivek Agnihotri |
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Designation : |
Chief Corporate Services |
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Name : |
Ms. Meenakshi Narain |
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Designation : |
Chief HR Officer |
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Name : |
Mr. Henning Sasse |
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Designation : |
Head of Techport |
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Name : |
Mr. Ranjan Sachdeva |
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Designation : |
Chief Central Procurement Officer |
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Name : |
Mr. Rajiv Natvarlal Gandhi |
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Designation : |
Company Secretary |
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Address: |
104 1st Floor ,Park West-4, Kulupwadi Road, Raheja Estate, Borivali (East), Mumbai - 400066, Maharashtra, India |
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Date of Appointment : |
01.08.2012 |
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PAN No.: |
AAJPG9845Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 30.09.2015
|
Category of
Shareholder |
Total No. of
Shares |
Total
Shareholding as a % of Total No. of Shares |
|
As a
% of (A+B) |
||
|
(A)
Shareholding of Promoter and Promoter Group |
||
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|
|
|
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|
780308553 |
51.31 |
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|
780308553 |
51.31 |
|
Total
shareholding of Promoter and Promoter Group (A) |
780308553 |
51.31 |
|
(B)
Public Shareholding |
||
|
|
|
|
|
|
39716270 |
2.61 |
|
|
4310819 |
0.28 |
|
|
153801711 |
10.11 |
|
|
309788872 |
20.37 |
|
|
110481038 |
7.27 |
|
|
110481038 |
7.27 |
|
|
618098710 |
40.65 |
|
|
|
|
|
|
7032919 |
0.46 |
|
|
|
|
|
|
89122831 |
5.86 |
|
|
9451155 |
0.62 |
|
|
16653282 |
1.10 |
|
|
13724584 |
0.90 |
|
|
12870 |
0.00 |
|
|
2911978 |
0.19 |
|
|
3850 |
0.00 |
|
|
122260187 |
8.04 |
|
Total
Public shareholding (B) |
740358897 |
48.69 |
|
Total
(A)+(B) |
1520667450 |
100.00 |
|
(C) Shares
held by Custodians and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
31229971 |
0.00 |
|
|
31229971 |
0.00 |
|
Total
(A)+(B)+(C) |
1551897421 |
0.00 |
Shareholding of
securities (including shares, warrants, convertible securities) of persons
belonging to the category Promoter and Promoter Group
|
Sl.No. |
Name of the Shareholder |
Details of Shares held |
|
|
No. of Shares held |
As a % of grand total (A)+(B)+(C) |
||
|
1 |
Holderind Investments Limited |
62,96,38,433 |
40.57 |
|
2 |
Holcim ( India ) Private
Limited |
15,06,70,120 |
9.71 |
|
|
Total |
78,03,08,553 |
50.28 |
Shareholding of
securities (including shares, warrants, convertible securities) of persons
belonging to the category Public and holding more than 1% of the total number
of shares
|
Sl. No. |
Name of the Shareholder |
No. of Shares held |
Shares as % of Total No. of Shares |
|
|
1 |
Life Insurance Corporation Of
India |
113615167 |
7.32 |
|
|
2 |
Aberdeean Global Indian Equity
( Mautiritus) |
47149182 |
3.04 |
Shareholding of securities
(including shares, warrants, convertible securities) of persons (together with
PAC) belonging to the category “Public” and holding more than 5% of the total
number of shares of the company
|
Sl. No. |
Name(s) of the shareholder(s) and the Persons
Acting in Concert (PAC) with them |
No. of Shares |
Shares as % of Total No. of Shares |
|
|
1 |
Life Insurance Corporation Of
India |
113615167 |
7.32 |
|
|
|
Total |
113615167 |
7.32 |
Details of Depository
Receipts (DRs)
|
Sl. No. |
Type of Outstanding DR (ADRs, GDRs, SDRs,
etc.) |
No. of Outstanding DRs |
No. of Shares Underlying |
Shares Underlying Outstanding DRs as % of
Total No. of Shares |
|
1 |
GDR |
3,12,29,971 |
3,12,29,971 |
2.01 |
|
|
Total |
3,12,29,971 |
3,12,29,971 |
2.01 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Cement (Confirmed by management) |
|
|
|
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not divulged |
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Imports : |
Not divulged |
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Terms : |
Not divulged |
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 : |
(Rs.
In Million)
|
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Auditors : |
|
|
Name : |
SRBC and Company LLP (Statutory Auditor) Chartered Accountant |
|
Address : |
14TH Floor, The Ruby 29 Senapati Bapat Marg, Dadar (West),
Mumbai – 400028, Maharashtra, India |
|
Tel. No.: |
91-22-61920000 |
|
Fax No.: |
91-22-619210000 |
|
|
|
|
Auditors : |
P.M. Nanabhoy and Company (Cost
Auditor) Chartered Accountants |
|
|
|
|
Holding Company : |
(CIN No.” U26943DL2002PTC116851) |
|
|
|
|
Ultimate Holding Company: |
Holcim Limited, Switzerland |
|
|
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Intermediate Holding Company: |
Holderfin BV, Netherlands |
|
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Subsidiary Company: |
(CIN No.U26942GJ1997PLC062008)
(CIN No.:U26943GJ1990PTC061530)
(CIN No.:U14107GJ2007PTC061529)
|
|
|
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Fellow Subsidiary Company: |
|
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|
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|
Joint Venture : |
(CIN No.:U70200GA1996PTC002240)
|
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|
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Joint Venture of fellow subsidiary : |
Siam City Cement Public Company Limited, Thailand |
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|
|
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Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
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|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 08.04.2015
Authorised Capital : Rs. 6500.000 Million
Issued and Subscribed & Paid-up Capital : 3103.795
Million
As on : 31.12.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000000 |
Equity Shares |
Rs.2/- each |
Rs. 5000.000 Million |
|
150000000 |
Preference shares |
Rs.2/- each |
Rs. 300.000 Million |
|
|
TOTAL |
|
Rs. 5300.000
Million |
Issued
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1550072306 |
Equity Shares |
Rs.2/- each |
Rs. 3100.147
Million |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1549745786 |
Equity shares |
Rs.2/- each |
Rs. 3099.491
Million |
|
|
|
|
|
a) Reconciliation of equity shares outstanding
|
|
As at 31.12.2014 |
|
|
|
No. of shares |
Rs. in Million |
|
At the beginning of the year |
1,545,860,286 |
3091.700 |
|
Add : Issued against Employee Stock Option Schemes (ESOS) |
3,885,500 |
7.800 |
|
At the end of the year |
1,549,745,786 |
3099.500 |
b) Rights, preferences and restrictions
attached to equity shares
The Company has only one class of equity shares having a par value of ` 2 per share. Each shareholder is entitled to one vote per equity share. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation of the Company, the equity shareholders are eligible to receive remaining assets of the Company, after distribution of all preferential amounts, in proportion to their shareholding.
c) Equity shares held by holding company,
ultimate holding company and their subsidiaries
|
|
As at 31.12.2014 |
|
|
Rs. in Million |
|
i) Holderind Investments Limited, Mauritius (HIL), the holding company (Refer note 48) 629,638,433 (previous year - 629,638,433) Equity shares of ` 2 each fully paid-up. |
1259.300 |
|
ii) Holcim (India) Private Limited (HIPL), a fellow subsidiary (Refer note 48) 150,670,120 (previous year - 150,670,120) Equity shares of ` 2 each fully paid-up |
301.300 |
|
|
|
d) Details of equity shares held by
shareholders holding more than 5% shares in the Company
|
|
As at 31.12.2014 |
|
|
|
No. of Shares |
% holding |
|
Holderind Investments Limited, Mauritius (Refer note 48) |
629,638,433 |
40.63% |
|
Holcim (India) Private Limited (Refer note 48). |
150,670,120 |
9.72% |
|
Life Insurance Corporation of India |
100,206,061 |
6.47% |
As per the of the Company, including its register of shareholders / members and other declarations received from shareholders regarding beneficial interest, the above shareholding represent both legal and beneficial ownership of shares.
e) Outstanding employee stock options exercisable into 2,344,400 (previous year - 6,381,625) equity shares of ` 2 each fully paid-up
f) Outstanding tradable warrants and right shares kept in abeyance exercisable into 186,690 (previous year - 186,690) and 139,830 (previous year - 139,830) equity shares of ` 2 each fully paid-up respectively.
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
3099.500 |
3091.700 |
3084.400 |
|
(b) Reserves & Surplus |
97933.800 |
91763.700 |
84966.200 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
101033.300 |
94855.400 |
88050.600 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
190.900 |
291.500 |
346.300 |
|
(b) Deferred tax liabilities
(Net) |
5890.400 |
5643.200 |
5482.500 |
|
(c) Other long term
liabilities |
92.200 |
175.800 |
49.100 |
|
(d) long-term provisions |
325.700 |
248.000 |
208.900 |
|
Total
Non-current Liabilities (3) |
6499.200 |
6358.500 |
6086.800 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
6184.900 |
5572.800 |
9345.400 |
|
(c) Other current liabilities |
13528.900 |
13224.900 |
6558.700 |
|
(d) Short-term provisions |
11762.200 |
9634.300 |
13089.300 |
|
Total
Current Liabilities (4) |
31476.000 |
28432.000 |
28993.400 |
|
|
|
|
|
|
TOTAL |
139008.500 |
129645.900 |
123130.800 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
62267.800 |
60621.600 |
58619.300 |
|
(ii) Intangible Assets |
3.300 |
3.700 |
4.400 |
|
(iii) Capital work-in-progress |
6901.700 |
6948.800 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
5201.200 |
|
(b) Non-current Investments |
1057.300 |
1045.100 |
1120.100 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
5933.200 |
3205.500 |
2872.700 |
|
(e) Other Non-current assets |
2893.100 |
2450.800 |
2549.100 |
|
Total
Non-Current Assets |
79056.400 |
74275.500 |
70366.800 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
20670.000 |
16839.400 |
15438.300 |
|
(b) Inventories |
8883.900 |
9339.400 |
9839.300 |
|
(c) Trade receivables |
2279.800 |
2315.100 |
2133.700 |
|
(d) Cash and cash equivalents |
24581.200 |
23410.900 |
22537.200 |
|
(e) Short-term loans and
advances |
3083.200 |
2894.100 |
2489.800 |
|
(f) Other current assets |
454.000 |
571.500 |
325.700 |
|
Total
Current Assets |
59952.100 |
55370.400 |
52764.000 |
|
|
|
|
|
|
TOTAL |
139008.500 |
129645.900 |
123130.800 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
|
|
SALES |
|
|
|
|
|
|
Income |
99781.200 |
91742.600 |
97303.000 |
|
|
|
Other Income |
4289.800 |
3775.100 |
3488.700 |
|
|
|
TOTAL
(A) |
104071.000 |
95517.700 |
100791.700 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
Cost of Materials Consumed |
7942.900 |
6893.700 |
6717.600 |
|
|
|
Purchases of Stock-in-Trade |
405.900 |
7.100 |
0.000 |
|
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
159.100 |
1183.300 |
(2008.300) |
|
|
|
Power and Fuel |
22652.200 |
20629.200 |
23290.700 |
|
|
|
Freight and forwarding
expenses |
24388.900 |
22877.300 |
22758.500 |
|
|
|
Self-Consumption of cement (net
of excise duty Rs. 9.900 Million previous year Rs. 8.300 Million) |
(80.400) |
(69.300) |
(67.100) |
|
|
|
Exceptional items-profit on
sale of residential flats |
0.000 |
(248.200) |
2791.300 |
|
|
|
Employees benefits expense |
5815.800 |
5021.700 |
4785.100 |
|
|
|
Other expenses |
19212.400 |
18530.200 |
17096.800 |
|
|
|
TOTAL
(B) |
80496.800 |
74825.000 |
75364.600 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
23574.200 |
20692.700 |
25427.100 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
644.800 |
650.800 |
756.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
22929.400 |
20041.900 |
24670.500 |
|
|
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
5095.300 |
4900.700 |
5652.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
17834.100 |
15141.200 |
19018.300 |
|
|
|
|
|
|
|
|
|
Less |
TAX
(I) |
2870.500 |
2195.500 |
6047.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
14963.600 |
12945.700 |
12970.600 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD (K) |
12306.900 |
7370.100 |
2847.500 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
Transfer to General Reserve |
1500.000 |
1500.000 |
2000.000 |
|
|
|
Dividend on equity Shares (including interim) |
7746.100 |
5563.400 |
5548.000 |
|
|
|
Corporate Dividend Tax |
1465.100 |
945.500 |
900.000 |
|
|
|
Total (M) |
10711.200 |
8008.900 |
8448.000 |
|
|
|
|
|
|
|
|
|
|
Balance
Carried to the B/S (J+K+L-M) |
16559.300 |
12306.900 |
7370.100 |
|
|
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
|
F.O.B. Value of Exports |
441.200 |
542.800 |
232.700 |
|
|
|
Royalty, professional
Consultation Fees |
12.400 |
4.800 |
1.900 |
|
|
|
Interest |
0.000 |
0.100 |
0.000 |
|
|
|
Others |
49.800 |
37.700 |
94.800 |
|
|
|
TOTAL
EARNINGS |
503.400 |
585.400 |
329.400 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
Raw Materials |
504.200 |
231.900 |
389.800 |
|
|
|
Components and Stores parts |
453.400 |
381.600 |
497.900 |
|
|
|
Fuels |
3736.300 |
3409.400 |
4859.600 |
|
|
|
Packing material |
0.000 |
0.000 |
26.000 |
|
|
|
Capital Goods |
717.100 |
1112.900 |
373.100 |
|
|
|
TOTAL
IMPORTS |
5411.000 |
5135.800 |
6146.400 |
|
|
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
9.67 |
8.39 |
8.43 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
Current Maturities of Long term debt |
100.600 |
113.300 |
81.800 |
|
Cash generated from operations |
19644.300 |
17400.300 |
24998.700 |
|
Net cash flow from operating activity |
16754.600 |
12674.600 |
18599.500 |
QUARTERLY RESULTS
|
Particulars |
March 2015 |
June 2015 |
September 2015 |
|
Audited / Unaudited |
Unaudited |
Unaudited |
Unaudited |
|
Net Sales |
24630.400 |
25104.900 |
21108.700 |
|
Total Expenditure |
19530.900 |
21267.000 |
18007.400 |
|
PBIDT (Excl OI) |
5099.500 |
3837.900 |
3101.300 |
|
Other Income |
951.000 |
1056.900 |
741.000 |
|
Operating Profit |
6050.500 |
4894.800 |
3842.300 |
|
Interest |
213.600 |
315.600 |
207.400 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
5836.900 |
4579.200 |
3634.900 |
|
Depreciation |
1577.600 |
1485.100 |
1552.600 |
|
Profit Before Tax |
4259.300 |
3094.100 |
2082.300 |
|
Tax |
1082.400 |
830.600 |
546.600 |
|
Provisions and contingencies |
NA |
NA |
NA |
|
Profit After Tax |
3176.900 |
2263.500 |
1535.700 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
3176.900 |
2263.500 |
1535.700 |
KEY
RATIOS
|
PARTICULARS |
|
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
15.00 |
14.11 |
13.33 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
23.63 |
22.56 |
26.13 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.61 |
12.45 |
16.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.16 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.90 |
1.95 |
1.82 |
STOCK
PRICES
|
Face Value |
Rs.2.00/- |
|
Market Value |
Rs.197.70/- |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
3084.400 |
3091.700 |
3099.500 |
|
Reserves & Surplus |
84966.200 |
91763.700 |
97933.800 |
|
Net
worth |
88050.600 |
94855.400 |
101033.300 |
|
|
|
|
|
|
long-term borrowings |
346.300 |
291.500 |
190.900 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current Maturities of
Long-Term Debts |
81.800 |
113.300 |
100.600 |
|
Total
borrowings |
428.100 |
404.800 |
291.500 |
|
Debt/Equity
ratio |
0.005 |
0.004 |
0.003 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
97303.000 |
91742.600 |
99781.200 |
|
|
|
(5.715) |
8.762 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
97303.000 |
91742.600 |
99781.200 |
|
Profit |
12970.600 |
12945.700 |
14963.600 |
|
|
13.33% |
14.11% |
15.00% |
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 |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
PRESS RELEASE
HOLCIM-LAFARGE PLAN
MEGA MERGER OF AMBUJA, ACC AND LAFARGE INDIA
The proposed Holcim-Lafarge merger is beginning to play out in India as well. ET NOW learns that a mega restructuring is in the works in India to fully leverage on the combined might of the three domestic subsidiaries - Ambuja, ACC and Lafarge India. Sources with direct knowledge share that Holcim-Lafarge has embarked on a mega restructuring plan in India and is looking at a plan to merge ACC, Ambuja and Lafarge India.
The plan is still at a nascent stage and the global cement giants have mandated boutique investment bank Lazard to advise on the rejig of Indian operations.
The most likely option is the merger of ACC, Ambuja and Lafarge India units into one listed entity to create the largest cement company in India. Combined capacity of the 3 subsidiaries will be 70 million tonnes of cement which means that the company will race ahead of KM Birla's UltraTech in the domestic market.
As part of the new restructuring proposal, Holcim-Lafarge may re-look at Holcim's rejig plan announced last year which is yet to get the FIPB approval, a source said. As part of that plan, shareholders of Ambuja had approved ACC's stake buy from Holcim.
When contacted, Holcim-Lafarge did not offer any comment on ET Now's query.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.12.2014 |
As
on 31.12.2013 |
|
LONG TERM
BORROWING |
|
|
|
Sales tax deferment loan |
132.300 |
232.900 |
|
Total |
132.300 |
232.900 |
|
Note: Sales tax deferment loan is interest free and payable in 10 annual installments starting from April 2007 to April 2016 of varying amounts from `Rs. 15.200 Million to 132.300 Million. |
||
FINACIAL RESULTS:
AT A GLANCE
Cement production
increased by 2% to reach 21.430 Million tonnes, from 20.960 Million tonnes
while clinker production increased to 14.840 Million tonnes, 4% up from 14.270
Million tonnes in years 2013.
Domestic cement
sales volume recorded increase of 3% at 21.46 Million tonnes from 20.94 Million
tonnes in year 2013. Cement exports decreased to 0.08 Million tonnes from 0.10
Million tonnes in year 2013. Clinker sales (including exports) were up at 0.61
Million tonnes from 0.56 Million tonnes in 2013.
Net sales at Rs.
99110.000 Million were 9% up than that of previous years Rs. 90790.000 Million.
Average sales realization increased by around 7% at Rs. 4,475 per tonne against
approx. Rs. 4,208 per tonne in 2013.
Total (operating)
expenses for the year 2014 increased by 7% over that of year 2013..
The company
achieved an absolute EBITDA of RS. 19280.000 Million. This is higher by 16%
over the corresponding Rs. 16670.000 Million of the year 2013.
Profit before tax
at 17830.000 was up by 18% over corresponding figure of Rs. 15140.000 Million
for the year 2013.
Net profit at Rs.
14960.000 Million was up by 16% over corresponding figure of Rs. 12950.000
Million for the year 2013.
MANAGEMENT DISCUSSION
AND ANALYSIS
INDIAN ECONOMY
Slowing growth, rising inflation and the depreciating rupee marked the onset of 2013 setting in motion a challenging year for the Indian economy. Growth rate continued to slide despite attempts by the government to stem the tide with a host of traditional and innovative measures. Efforts were further constrained due to global headwinds.
To boost investor confidence, the Cabinet Committee on Investments approved infrastructure projects entailing huge investments.
However, given the weak start, we expect that real GDP growth would average at 4.5-5% in 2013-14.
FLAT GROWTH FOR
CEMENT INDUSTRY
The cement industry witnessed flat growth in 2013 due to several reasons - a prolonged monsoon that extended until the festive season, natural calamities (floods and cyclone) that hit many parts of India and low demand due to financial crunch and slowdown in realty and infrastructure sectors.
In the first half of 2013, industry demand was slow due to fall in construction activity and a virtual halt in government spending. During the second half, the early arrival of the monsoon compared with the previous year did not augur well.
The cement industry also faced rising costs, high interest rates, land acquisition and clearance issues. An overall weak macro environment and ban on sand mining continued to worry the industry.
Increase in freight rates for several commodities has had a cascading impact on the cement industry. An increase in freight rates for coal and cement drove up transportation cost as well as the landed cost of imported goods. Moreover, the rupee’s weakness against the U.S. dollar and other global currencies prevented India from taking advantage of the decline in commodity prices in the world market.
Over the past few years, the cement industry witnessed huge capacity addition (almost 90 million tones on the available supply basis), which substantially increased the gap between demand and supply and consequently lowered capacity utilization.
We expect demand to gradually revive over 2014 and 2015 with a new government and recovery in construction activity.
OUT LOOK
TANGIBLE POLICY ACTIONS TO FACILITATE
ECONOMIC
GROWTH
The bigger picture is looking favorable. To facilitate rapid economic growth, it will be necessary to see big ticket structural reforms, faster approvals on the supply side, with major support of fiscal and monetary policy on the demand side. After nine months plus of the new government in the Centre, tangible policy actions are required to facilitate. Investment and sustained growth.
Medium to long-term economic growth depends on ensuring macroeconomic stability and on creating an enabling environment for the private sector to invest. Fundamentally, India's medium-term growth prospects looks to be promising, and a medium-term trend rate of growth of about 7% to 8% should be within reach in view of favorable tailwinds, both domestic and external, supported by active policy push in all three areas of good governance, fiscal an - monetary management. Despite headwinds of a global slowdown in some parts. of the world, India has the ability to grow faster and be a leading growth engine in the near to medium-term.
AWARDS AND ACCOLADES
· ACF Darlaghat bags NABARD's Best Partnership Award.
· Ambuja bags CII-ITC Sustainability Award- 2014.
· Roorkee Grinding Unit has been awarded with the 'CERTIFICATE of MERIT' for 'Energy Conservation in Cement Sector for the year 2013'.
· Ambuja Cement Foundation - Chirawa has won the UNESCO supported Water Digest Water Award 2013-14.
· Ambuja Cement- bags Bronze at the Flame Awards 2013 for Rural Marketing Initiative.
· Ambuja Cement bagged the 1st runner up award at the ASSOCHAM CSR Excellence award during the 6th Global Corporate Social Responsibility Summit held in Delhi.
· ACES Rabriyawas Unit won the 14th Annual Greentech Environment award in the Gold Category.
· Greentech Environmental Excellence Gold Award 2013.
· Ambuja Cements - Rabriyawas Plant won Productivity Excellence Award 2011-12, presented by ~Rajasthan’ state Productivity Council.
· Ambuja Cement Foundation - Bathinda won the NABARD 'Partnership Excellence Award' in the category of 'Improving productivity of crops'.
Contingent liabilities and commitments (to
the extent not provided for)
|
|
As at 31.12.2014 |
|
Contingent
liabilities and Claims against the Company not acknowledged as debts related
to |
Rs. in Million |
|
Labour |
207.400 |
|
and |
588.600 |
|
Royalty on Limestone |
1199.700 |
|
Sales tax |
2662.700 |
|
Excise and Customs |
679.400 |
|
Demand from Competition Commission of India |
11639.100 |
|
Others |
1402.400 |
In respect of items above, future cash outflows are determinable only on receipt of judgements / decisions pending at various forums / authorities.
1 Royalty on limestone represents additional royalty, consequent to the order passed by Madhya Pradesh State Mining Department, based on the ratio of 1.6 tonnes of limestone to 1 tonne of cement produced at its factory in Chhattisgarh. The Company holds the view that the payment of royalty on limestone is correctly made based on the actual quantity of limestone extracted from the mining area. The matter is pending before the Hon’ble High Court of Bilaspur.
2 Includes a matter relating to 75% exemption from sales tax granted by Government of Rajasthan (GOR). However, the eligibility of exemption in excess of 25% was contested by the State Government in a similar matter of another Company. In the current year, pursuant to the unfavourable decision of the Supreme Court in that similar matter, the sales tax department has initiated proceedings for recovery of differential sales tax and interest thereon on the ground that the Company had given an undertaking to deposit the differential amount of sales tax, in case the Supreme Court’s decision goes against the matter referred above. Against the total demand of Rs. 2479.700 Million (including interest of Rs. 1344.500 Million), the Company has deposited an amount of Rs.1235.200 Million towards sales tax under protest and filed a Special Leave Petition in the Supreme Court with one of the grounds that the tax exemption was availed by virtue of the order passed by the Board for Industrial and Financial Reconstruction (BIFR) during the relevant period. Subsequent to the balance sheet date, on Company’s petition, the Hon’ble Supreme Court has granted an interim stay on interest, subject to deposit of Rs. 200.000 Million. Based on the advice of external legal counsel, the Company believes that, it has good grounds for a successful appeal. Accordingly, no provision is considered necessary.
3 The Competition Commission of India issued an Order dated 20th June, 2012, imposing penalty on certain cement manufacturers, including the Company, concerning alleged contravention of the provisions of the Competition Act, 2002 and imposed a penalty of Rs. 11639.100 Million on the Company. The Company had filed an appeal against the said Order with the Competition Appellate Tribunal (COMPAT). Pending final disposal of the appeal, the Hon’ble Tribunal, vide its order dated 17th May, 2013, has stayed the penalty with a condition to deposit 10% of the penalty amount, which has been deposited in the form of bank fixed deposit with lien in favour of COMPAT. The fixed deposit has been renewed along with interest of Rs. 147.100 Million. Based on the advice of external legal counsel, the Company believes that it has good grounds for a successful appeal. Accordingly, no provision is considered necessary.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90205358 |
02/06/1998 |
150,000,000.00 |
UTI BANK LTD. |
7/1; LORD SINHA ROAD, CALCUTTA, West Bengal - 700071, INDIA |
- |
|
2 |
90202636 |
22/04/1993 * |
105,000,000.00 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA |
IDBI TOWER; CUFFE PARADE, COLABA, BOMBAY, Maharashtra - 400005, INDIA |
- |
|
3 |
90201517 |
20/03/1989 |
7,000,000.00 |
HOUSING DEVELOPMENT FINANCE CORPN. LTD. |
RAMON HOUSE, 169; BACKBAY RECLAMATION, BOMBAY, Maharashtra - 400020,
INDIA |
- |
|
4 |
90202515 |
20/03/1989 * |
633,000.00 |
LIFE INSURANCE CORPN. OF INDIA |
YOGAKSHEMA, JEEVAN BIMA MARG, BOMBAY, Maharashtra |
- |
|
5 |
90202433 |
22/04/1993 * |
2,000,000.00 |
NEW BANK OF INDIA |
CHANDNI CHOWK, DELHI, Delhi - 110006, INDIA |
- |
|
6 |
90202420 |
22/04/1993 * |
4,000,000.00 |
STATE BANK OF MYSORE |
ANTRIKASH BHAWAN, KASTURBA GANDHI MARG, NEW DELHI |
- |
|
7 |
90202381 |
20/03/1989 * |
40,000,000.00 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA |
NARIMAN BHAVAN; 227; VINAY K. SHAH MARG, NARIMAN |
- |
|
8 |
90202364 |
07/12/1987 * |
37,000,000.00 |
INTERNATIONAL FINANCE CORPN. |
1818; H STREET, NEW YORK, , UNITED STATES OF AMERICA |
- |
|
9 |
90202358 |
01/10/1987 * |
12,100,000.00 |
GENERAL INSURANCE CORPN. OF INDIA |
INDUSTRIAL ASSURANCE BUILDING, CHURCHGATE, BOMBAY, Maharashtra -
400020, INDIA |
- |
|
10 |
90206745 |
29/03/1990 * |
6,000,000.00 |
NEW BANK OF INDIA |
CHANDNI CHOWK, DELHI, Delhi - 110006, INDIA |
- |
* Date of charge modification
FIXED ASSTES:
·
Freehold non-mining land
·
Freehold mining land
·
Leasehold Land
·
Building roads and water works
·
Marine Structure
·
Plant and Machinery
·
Railway sidings and locomotive
·
Furniture and Fixture
·
Office Equipment
·
Ships
·
Vehicles
·
Water Drawing rights
·
Computer software
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER
ENDED 30th SEPTEMBER 2015
(Rs. In Million)
|
|
|
Particulars |
3 Months ended
30.09.2015 |
Preceding 3 months
ended 30.06.2015 |
Year to date figures
for the current period ended 30.09.2015 |
|
1 |
|
Income from
Operations |
|
|
|
|
|
|
Sales/Income from Operations (Gross) |
20951.600 |
24927.600 |
70124.900 |
|
|
|
b) Other Operating Income |
157.100 |
155.100 |
696.900 |
|
|
Total Income from
Operations (Net) |
21108.700 |
25082.700 |
70821.800 |
|
|
2 |
Expenses |
|
|
|
|
|
|
a) |
Cost of Materials consumed |
1799.000 |
2172.100 |
6042.700 |
|
|
b) |
Purchase of Stock-in-trade |
-- |
-- |
41.900 |
|
|
c) |
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(709.100) |
(389.700) |
(1089.000) |
|
|
d) |
Employee benefit expenses |
1514.900 |
1501.400 |
4496.600 |
|
|
e) |
Depreciation and amortization expense |
1552.600 |
1485.100 |
4615.300 |
|
|
f) |
Power and Fuel |
4861.600 |
5821.200 |
16050.600 |
|
|
g) |
Freight and forwarding : |
|
|
|
|
|
|
-On Finished Products |
4037.900 |
5255.700 |
14026.500 |
|
|
|
-On internal material transfer |
1500.600 |
1895.100 |
4870.100 |
|
|
h) |
Other expenses |
5002.500 |
4989.000 |
14343.700 |
|
|
Total Expenses |
19560.000 |
22729.900 |
63398.400 |
|
|
|
|
|
|
|
|
|
3 |
|
Profit /(Loss) from
operations before other income, finance costs and exceptional items |
1548.700 |
2352.800 |
7423.400 |
|
4 |
Other Income |
741.000 |
1056.900 |
2748.900 |
|
|
5 |
Profit /(Loss) from
ordinary activities before finance costs and exceptional items |
2289.700 |
3409.700 |
10172.300 |
|
|
6 |
Finance Costs |
207.400 |
315.6000 |
736.600 |
|
|
7 |
Profit /(Loss) from
ordinary activities after finance costs but before exceptional items |
2082.300 |
3094.100 |
9435.700 |
|
|
8 |
Exceptional Items |
-- |
-- |
-- |
|
|
9 |
Profit /(Loss) from
ordinary activities before tax |
2082.300 |
3094.100 |
9435.700 |
|
|
10 |
Tax Expense |
546.600 |
830.600 |
2459.600 |
|
|
11 |
Net Profit /(Loss)
from ordinary activities after tax |
1535.700 |
2263.500 |
6976.100 |
|
|
12 |
Paid up equity share capital (Eq. shares of Rs.10/- each) |
3103.800 |
3103.800 |
3103.800 |
|
|
13 |
Reserve excluding revaluation reserves |
|
|
|
|
|
14 |
|
Earnings per share (before/after extraordinary items) of Rs.10/- each |
|
|
|
|
|
|
Basic & Diluted |
0.99 |
1.46 |
4.50 |
|
|
|
|
|
|
|
|
A |
|
PARTICULARS OF
SHAREHOLDING |
|
|
|
|
1 |
|
Public Shareholding |
|
|
|
|
|
|
- No. of Shares |
740358897 |
739877755 |
740358897 |
|
|
|
- Percentage of Shareholding |
47.71% |
47.68% |
47.71% |
|
2 |
|
Promoters and promoter group shareholding |
|
|
|
|
|
|
a) Pledged/Encumbered |
|
|
|
|
|
|
- Number of shares |
Nil |
Nil |
Nil |
|
|
|
- Percentage of shares ( as a % of the total shareholding of the promoter and promoter group) |
Nil |
Nil |
Nil |
|
|
|
- Percentage of shares (as a % of the total share capital of the Company) |
Nil |
Nil |
Nil |
|
|
|
b) Non- encumbered |
|
|
|
|
|
|
- Number of shares |
780308553 |
780308553 |
780308553 |
|
|
|
- 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) |
50.28% |
50.28% |
50.28% |
|
Particulars |
Quarter Ended 30.09.2015 |
|
Pending at the beginning of the quarter |
Nil |
|
Received during the quarter |
6 |
|
Disposed of during the quarter |
6 |
|
Remaining unresolved at the end of the
quarter |
Nil |
NOTE:
1. The above results have been approved and taken on record by the Board of Directors at its meeting held on October 28, 2015.
2. a) Other income includes Rs. Nil for the nine months ended September 30,
2015, Rs. 2,697 lakhs for the nine months ended September 30, 2014 and Rs. 3,579
lakhs for the year ended December 31, 2014, written back towards interest on
income tax relating to earlier years.
b) Tax expense is net of credit relating to earlier years, Rs. Nil for the nine
months ended September 30, 2015, Rs. 9,475 lakhs for the nine months ended
September 30, 2014 and Rs. 17,568 lakhs for the year ended December 31, 2014.
3. Pursuant to the enactment of the Companies Act 2013 (‘the Act’), the Company
has, effective January 01, 2015, reviewed and revised the estimated useful
lives of fixed assets, as per the life indicated in the Act. Accordingly, as
per the transition provisions of the Act, the Company has adjusted Rs. 10,663
lakhs (net of tax of Rs. 5,490 lakhs) in opening balance of “Surplus in the
statement of profit and loss” as on January 01, 2015. Further, as a result of
this change, depreciation for the quarter ended September 30, 2015, quarter
ended June 30, 2015 and nine months ended September 30, 2015 is higher by Rs.
2,758 lakhs, Rs. 2,237 lakhs and Rs. 8,959 lakhs respectively.
4. During the quarter, the Company has commissioned Waste Heat Recovery System
of 6.5 MW at its Rabriyawas unit situated in the State of Rajasthan.
5. Pursuant to introduction of The Mines and Mineral (Development and
Regulation) Amendment Act, 2015, effective from January 12, 2015 and subsequent
notification dated September 12, 2015, the Company has made provision towards
contribution to District Mineral Foundation and National Mineral Exploration
Trust amounting to Rs. 4,011 lakhs (including Rs. 2,681 lakhs for the period
upto June 30, 2015) in the current quarter under the head 'Other expenses'.
6. The Competition Commission of India in June 2012 had imposed a penalty of
Rs. 116,391 lakhs concerning alleged contravention of the provisions of the
Competition Act, 2002. On Company’s appeal, Competition Appellate Tribunal had
stayed the penalty with a condition to deposit 10% of the penalty amount, which
was deposited. Based on the advice of external legal counsel, the Company
believes that it has good grounds for a successful appeal. Accordingly, no
provision is considered necessary in the above financial results.
7. The Company has only one business segment “Cementitious Materials”.
8. The figures for the previous periods have been regrouped wherever necessary
to conform to the current period's presentation.
9. Limited review of the financial results for the quarter ended September 30,
2015 has been carried out by the statutory auditors.10. Limited review for the quarter ended 31st
March, 2015 has been carried out by the statutory auditors.
Standalone
financial results for the quarter ended 31st March, 2015
Ambuja Cements
Limited today announced its unaudited financial results for the quarter ended
30st September 2015
|
|
July-September
2015 |
July – September
2014 |
Growth (%) |
|
Sales volume-Cement |
4.820 |
4.670 |
3.2% |
|
Net Sales |
20950.000 |
21880.000 |
(4.3%) |
|
Operating EBITDA |
3100.000 |
3930.000 |
(21.1%) |
|
Net Profit before tax |
2080.000 |
3340.000 |
(37.7%) |
|
Net profit after tax |
1540.000 |
2390.000 |
(35.6%) |
The cement market was subued during the quarter. Although sales volume
increased by 3.2% lower realization by 6.9% led to overall net sales being less
by 4.3%. Lower operating costs with improved operational efficiencies have
partly mitigated the impact of reduced sales realization. A provision of Rs.
400.000 Million has been recognized towards contribution to District Menerai
Foundation and National Exploration Trust as per The Mines and Mineral
(Development and Regulation) Amendment Act 2015. This includes Rs. 270.000
Million up to previous quarters. This has impacted the EBITDA margin for the quarter
by 130 basisi points.
Net profit after tax is down by Rs. 1540.000 Million during the quarter
as against Rs. 2390.000 Million in the corresponding quarter of previous year,
on account of lower operating EBITDA and due to additional depreciation charge
of Rs. 280.000 Million on implementation of schedule II of the Companies Act,
2013.
Project
During the quarter, the Company has commissioned a Waste Heat Recovery
System of 6.5 MW at its Rabriyawas unit in Rajasthan.
Acquisition Update
The Scheme of Amalgamation of Holcim India Private Limited with the
Company, by which Ambuja Cements Limited will acquire 50.01% shareholding in
ACC Limited, was approved by the Hon’ble High Courts of New Delhi and Gujarat.
This transaction was recommended by the Foreign Investment Promotion Board
(FIPB) and is awaiting approval of the Cabinet Committee of Economic Affairs
(CCEA).
Outlook
Post monsoon construction activities are likely to pick up. The long term outlook for cement demand remains positive considering Government’s focus on housing, concrete roads, smart cities and infrastructure development. Ambuja Cement would continue to focus on improving operational efficiencies.
STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE
QUARTER AND QUARTER ENDED 31.03.2015
Standalone statement of profit and loss
(Rs. In Million)
|
Sr. No |
Particulars |
Standalone |
||
|
Quarter Ended |
|
|||
|
|
|
3 Months Ended 31.03.2015 |
||
|
|
|
Unaudited |
||
|
1 |
Income From
Operations |
|
|
|
|
|
a. Net Sales/ Income from Operations (Net of Excise Duty) |
|
|
24245.700 |
|
|
b. Other Operating Income |
|
|
384.700 |
|
|
Total Income from
Operations (Net) |
|
|
24630.400 |
|
2 |
Expenditure |
|
|
|
|
|
a. Cost of material Consumed |
|
|
2071.600 |
|
|
b. Purchase of Stock-in trade |
|
|
419.000 |
|
|
c. Changes in inventory of finished Goods, work- in-progress and Stock-in-trade |
|
|
98.000 |
|
|
d. Employees Benefit Expenses |
|
|
14.803 |
|
|
e. Depreciation and Amortization Expenses |
|
|
1577.600 |
|
|
f. Power and fuel |
|
|
5367.800 |
|
|
g. Freight and Forwarding |
|
|
|
|
|
- On finished products |
|
|
4732.900 |
|
|
- On internal material transfer |
|
|
1474.400 |
|
|
h. Other expenses |
|
|
4352.200 |
|
|
Total Expenses |
|
|
21108.500 |
|
3 |
Profit from
Operations before Other Income, Interest and Exceptional Items |
|
|
3521.900 |
|
4 |
Other Income |
|
|
951.000 |
|
5 |
Profit from
ordinary activities before finance cost & exceptional items |
|
|
4472.900 |
|
|
Finance costs |
|
|
213.600 |
|
|
Profit from
ordinary activities after finance cost & exceptional items |
|
|
4686.500 |
|
9 |
Exceptional items |
|
|
0.000 |
|
10 |
Profit from
ordinary activities before tax |
|
|
4259.300 |
|
11 |
Tax Expense |
|
|
1082.400 |
|
14 |
Net Profit After
Tax |
|
|
3176.900 |
|
15 |
Paid-up equity share capital (face value of Rs.10 per share) |
|
|
3100.000 |
|
16 |
Reserves excluding Revaluation Reserve as per balance sheet of previous accounting Year |
|
|
0.000 |
|
17 |
Earning Per Share (of Rs.10 each) (not annualized) |
|
|
|
|
|
Basic EPS |
|
|
2.05 |
|
|
Diluted EPS |
|
|
2.05 |
|
|
|
|
|
|
|
A |
PARTICULARS OF
SHAREHOLDING |
|
|
|
|
17 |
Public Shareholding |
|
|
|
|
|
- No. of shares |
|
|
737,534,390 |
|
|
- Percentage of shareholding |
|
|
47.59% |
|
18 |
Promoter &
Promoter Group Shareholding |
|
|
|
|
|
a) Pledged/Encumbered |
|
|
|
|
|
- No. of shares |
|
|
0.000 |
|
|
b) Non-encumbered |
|
|
|
|
|
- No. of shares |
|
|
780,308,553 |
|
|
- Percentage of shareholding (as a % of the total shareholding of promoter and promoter group) |
|
|
100.00% |
|
|
- Percentage of shareholding (as a % of the total share capital of the company) |
|
|
50.34% |
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.66.62 |
|
|
1 |
Rs.100.65 |
|
Euro |
1 |
Rs.72.40 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUM |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
10 |
|
PAID-UP CAPITAL |
1~10 |
10 |
|
OPERATING SCALE |
1~10 |
10 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
10 |
|
--PROFITABILITY |
1~10 |
10 |
|
--LIQUIDITY |
1~10 |
10 |
|
--LEVERAGE |
1~10 |
10 |
|
--RESERVES |
1~10 |
10 |
|
--CREDIT LINES |
1~10 |
10 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
90 |
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.