MIRA INFORM REPORT

 

 

Report No. :

354981

Report Date :

18.12.2015

 

IDENTIFICATION DETAILS

 

Name :

AARTI INDUSTRIES LIMITED (w.e.f. 24.02.1995)

 

 

Formerly Known As :

AARTI ORGANICS LIMITED

 

 

Registered Office :

Plot No.801/23, GIDC Estate, Phase III, Vapi - 396195, District Valsad, Gujarat

Tel. No.:

91-22-67976666/ 67976697/ 25918195/ 55976666

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

28.09.1984

 

 

Com. Reg. No.:

04-007301

 

 

Capital Investment / Paid-up Capital :

Rs.442.958 Million

 

 

IEC No.:

0389029971

 

 

CIN No.:

[Company Identification No.]

L24110GJ1984PLC007301

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

SRTA02524E

 

 

PAN No.:

[Permanent Account No.]

AABCA2787L

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

Manufactures of Dyes, Pigments, Agrochemicals, Pharmaceuticals and Rubber Chemicals. (From Indirect Sources)

 

 

No. of Employees :

2039 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A (64)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

USD 26000000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist

 

 

Comments :

Subject is a flagship company of the AARTI GROUP, it is a manufacturer of organic and inorganic chemicals. Subject is a well-established company having fine track record.

 

The rating reflects company’s healthy financial risk profile marked by adequate net worth base and decent profitability margins of the company.

 

Rating also takes into consideration company’s strong market position as reflected in its dominant share in the nitro chlorobenzene-based basic and speciality chemicals market and extensive industry experience of promoters in chemical industry.

 

Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment.

 

In view of aforesaid, the company can be considered good for normal business dealings at usual trade terms and conditions.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

 

EXTERNAL AGENCY RATING

 

 

Rating Agency Name

CRISIL

Rating

Long Term Rating: “A+”

Rating Explanation

Adequate degree of safety and low credit risk.

Date

29.09.2015

 

Rating Agency Name

CRISIL

Rating

Short Term Rating: “A1”

Rating Explanation

Very strong degree of safety and carry lowest credit risk.

Date

29.09.2015

 

 

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.

 

 

LOCATIONS

 

Registered Office/ Factory 1 :

Plot No.801/23, GIDC Estate, Phase III, Vapi - 396195, District Valsad, Gujarat, India

Tel. No.:

91-2638-25690411/ 2/ 3/ 25918195/ 55976666

Fax No.:

91-2638-25904806/ 25653186-87/ 25653185

E-Mail :

ail@bom2.vsnl.net.in

secretarial@aartigroup.com

info@aartigroup.com

investorrelations@aartigroup.com

Website :

www.aartigroup.com

 

 

Corporate Office :

Udyog Kshetra, II Floor, L.B.S. Marg, Mulund – Goregaon Link Road, Mulund (West), Mumbai – 400080, Maharashtra, India

Tel. No.:

91-22-67976666/ 67976697/ 25918195/ 55976666

Fax No.:

91-22-25653234/ 25653185

E-Mail :

info@aartigroup.com

 

 

Factory 2:

Plot No. 902, GIDC Estate, Phase II, District Valsad, Vapi – 396195, Gujarat, India

 

 

Factory 3:

Plot No. 286/1, 285, GIDC Estate, Phase II, District Valsad, Vapi – 396195, Gujarat, India

 

 

Factory 4:

Plot No. 22 / C / 1 and 2, GIDC Estate, Phase I, District Valsad, Vapi – 396195, Gujarat, India

 

 

Factory 5:

Shed No. A1-6 and 9, GIDC Estate, Phase I, District Valssad, Vapi – 396195, Gujarat, India

 

 

Factory 6 :

Plot No. 609 and 610, GIDC Estate, 100 Shed, District Valsad, Vapi – 396195, Gujarat, India

 

 

Factory 7:

Plot Nos. 750-754, Sarigam Industrial Area, Sarigam, Taluka Umargaon, District Valsad, Gujarat, India

 

 

Factory 8:

Plot Nos. 2701, 2703 Sarigam Industrial Area, Sarigam, Taluka Umargaon, District Valsad, Gujarat, India

 

 

Factory 9:

Plot Nos. 2604, 2605 Sarigam Industrial Area, Sarigam, Taluka Umargaon, District Valsad, Gujarat, India

 

 

Factory 10:

Plot Nos. 758/1, 2 and 3, Jhagadia Mega Estate, Village Kapalsadi, Taluka Jhagadia, District Bharuch, Gujarat, India

 

 

Factory 11:

Plot Nos. 756/2 A and B, 756/3 A and B, 756/4 A&B, 756/5 A&B, 756/6 A and B, 756/7, 779, Jhagadia Mega Estate, Village Kapalsadi, Taluka Jhagadia, District Bharuch, Gujarat, India

 

 

Factory 12:

Survey No. 1430/1, NH-8, Bhachau, Kutch, Gujarat, India

 

 

Factory 13:

Plot No. D-18, MIDC, Tarapur, District Thane, Maharashtra, India

 

 

Factory 14:

Plot No. E-50, MIDC, Tarapur, District Thane, Maharashtra, India

 

 

Factory 15:

Plot No. K - 17/18/19, MIDC, Tarapur, District Thane, Maharashtra, India

 

 

Factory 16:

Plot No. L – 5, MIDC, Tarapur, District Thane, Maharashtra, India

 

 

Factory 17:

Plot No. L – 8, MIDC, Tarapur, District Thane, Maharashtra, India

 

 

Factory 18:

Survey No. 193/1/4, 193/1/5, 193/1/6, Silvassa, Union Territory of Silvassa, India

 

 

Factory 19:

Plot No. D – 53/54/60, MIDC, Phase II, Dombivali (East), District Thane, Maharashtra, India

 

 

Factory 20:

Plot Nos. 62, 63 and 64, Sagore, Pithampur Industrial Area, Sector-3, Pithampur, District: Dhar, Madhya Pradesh, India

 

 

DIRECTORS

 

As on 31.03.2015

 

Name :

Mr. Rajendra Vallabhaji Gogri

Designation :

Managing Director

Address :

1401, Antariksh, Murar Road, Mulund (West), Mumbai - 400080, Mumbai - 400080, Maharashtra, India

Date of Appointment :

06.06.1989

DIN No.:

00061003

 

 

Name :

Mr. Rashesh Chandrakant Gogri

Designation :

Managing Director

Address :

601, Antariksh, Murar Road, Mulund (West), Mumbai - 400080, Maharashtra, India

Date of Appointment :

09.06.1997

DIN No.:

00066291

 

 

Name :

Mr. Parimal Hasmukhlal Desai

Designation :

Whole-Time Director

Address :

A / 1403, 14th Floor, Runwal Heights, LBS Marg, Mulund (West), Mumbai - 400080, Maharashtra, India

Date of Appointment :

28.09.1984

DIN No.:

00009272

 

 

Name :

Ms. Hetal Gogri Gala

Designation :

Whole-Time Director

Address :

552-B, Gopal Sadan, Block No.801, 8th Floor, Jamshed Rodad, Matunga (East), Mumbai - 400019, Maharashtra, India

Date of Appointment :

01.11.2001

DIN No.:

00005499

 

 

Name :

Mr. Renil Rajendra Gogri

Designation :

Whole-Time Director

Address :

1401 Antriksha, Murar Road, Mulund (West), Mumbai - 400080, Maharashtra, India

Date of Appointment :

16.08.2012

DIN No.:

01582147

 

 

Name :

Kirit Ratilal Mehta

Designation :

Whole-Time Director

Address :

10 Pushpendra Mansion, Phirojshah Mehta Road, Santacruz (West), Mumbai - 400054, Maharashtra, India

Date of Appointment :

18.09.2000

DIN No.:

00051703

 

 

Name :

Mr. Manoj Murjibhai Chheda

Designation :

Whole-Time Director

Address :

Danil Vila Co.Operative Housing Society Limited, Besant Road, Santacruz (West), Mumbai - 400054, Maharashtra, India

Date of Appointment :

25.11.1993

DIN No.:

00022699

 

 

Name :

Mr. Ganapathi Dadasaheb Yadav

Designation :

Director

Address :

Flat No 7 University Staff - Qrts Udct Campus, R.A. Kidwai Road Matunga, Mumbai - 400019, Maharashtra, India

Date of Appointment :

25.09.2014

DIN No.:

02235661

 

 

Name :

Ms. Priti Paras Savla

Designation :

Director

Address :

501, Arihant Tower, Near Thane Janta Sahakari Bank, Naupada, B Cabin, Thane - 400602, Maharashtra, India

Date of Appointment :

25.09.2014

DIN No.:

00662996

 

 

Name :

Mr. Shantilal Tejshi Shah

Designation :

Director

Address :

Mayur, 2nd Floor, 8th N.S. Road, Juhu Scheme, Vileparle (West), Mumbai - 400049, Maharashtra, India

Date of Appointment :

25.04.1990

DIN No.:

00004850

 

 

Name :

Mr. Bhavesh Rasiklal Vora

Designation :

Director

Address :

B/702, Kailash Jyot No. 2, Derasar Lane,, Ghatkopar (East), Mumbai-400077, Maharashtra, India

Date of Appointment :

23.09.2008

DIN No.:

00267604

 

 

Name :

Mr. Prem Chandra Sethi

Designation :

Director

Address :

12-A, Viceroy Park, Tower "D", Thakur Village, Kandivali (East), Mumbai - 400101, Maharashtra, India

Date of Appointment :

23.09.2008

DIN No.:

00004038

 

 

Name :

Mr. Venkata Shyam Sundar Kalluri

Designation :

Director

Address :

Flat No.82, Jyeshta, Tarangan Pokhran, Road- I, Thane (West), Thane - 400606, Maharashtra, India

Date of Appointment :

23.09.2008

DIN No.:

00502621

 

 

Name :

Mr. Ramdas Maneklal Gandhi

Designation :

Director

Address :

111, Shivtirth,, 4 Bhulabhai Desai Road, Hajiali, Mumbai - 400026, Maharashtra, India

Date of Appointment :

29.01.1990

DIN No.:

00029437

 

 

Name :

Mr. Vijay Hanamant Patil

Designation :

Director

Address :

1-5 Rakhi Mahal, Dinshaw Wachha Road, Mumbai - 400020, Maharashtra, India

Date of Appointment :

29.01.1990

DIN No.:

00030046

 

 

Name :

Mr. Laxmichand Kakubhai Jain

Designation :

Director

Address :

7 Ganesh, 12 K. A.Subramaniam Road, Matunga, Mumbai - 400019, Maharashtra, India

Date of Appointment :

29.01.1990

DIN No.:

00042099

 

 

 

 

 

 

 

KEY EXECUTIVES

 

Name :

Ms. Mona Nishit Patel

Designation :

Company Secretary

Address :

28, Gurav Enclave, Behind Ashok Nagar, Nahur Road, Mulund (West), Mumbai -  400080, Maharashtra, India

Date of Appointment :

10.07.2007

PAN No.:

AGVPP8341A

 

 

Name :

Mr. Chetan Bipin Gandhi

Designation :

Chief Financial Officer

Address :

214/5770 Uday,Near Ganesh Mandir, 90 Feet Road, Ghatkopar (East), Mumbai -  400075, Maharashtra, India

Date of Appointment :

30.05.2014

PAN No.:

AFGPG4666P

 

 

Name :

Mr. Rajendra Vallabhaji Gogri

Designation :

Chief Executive Officer

Address :

1401, Antariksh, Murar Road, Mulund(West), Mumbai - 400080, Maharashtra, India

Date of Appointment :

01.04.2014

PAN No.:

AACPG2278E

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2015

 

Category of Shareholder

Total No. of Shares

As a %

 

 

 

(A) Shareholding of Promoter and Promoter Group

http://www.bseindia.com/include/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/include/images/clear.gifIndividuals / Hindu Undivided Family

43707214

52.46

http://www.bseindia.com/include/images/clear.gifBodies Corporate

1817447

2.18

http://www.bseindia.com/include/images/clear.gifSub Total

45524661

54.64

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

http://www.bseindia.com/include/images/clear.gifIndividuals (Non-Residents Individuals / Foreign Individuals)

130737

0.16

http://www.bseindia.com/include/images/clear.gifSub Total

130737

0.16

Total shareholding of Promoter and Promoter Group (A)

45655398

54.79

(B) Public Shareholding

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gifMutual Funds / UTI

10584054

12.70

http://www.bseindia.com/include/images/clear.gifFinancial Institutions / Banks

47671

0.06

http://www.bseindia.com/include/images/clear.gifForeign Institutional Investors

2253293

2.70

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

228553

0.27

http://www.bseindia.com/include/images/clear.gifForeign Portfolio Investments Corporation

228553

0.27

http://www.bseindia.com/include/images/clear.gifSub Total

13113571

15.74

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

982070

1.18

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital up to Rs.0.100 Million

9883335

11.86

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital in excess of Rs.0.100 Million

13077149

15.70

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

608860

0.73

http://www.bseindia.com/include/images/clear.gifNon Resident Indians

212497

0.26

http://www.bseindia.com/include/images/clear.gifTrusts

100

0.00

http://www.bseindia.com/include/images/clear.gifForeign Individuals

2625

0.00

http://www.bseindia.com/include/images/clear.gifUnclaimed Suspense A/c

393638

0.47

http://www.bseindia.com/include/images/clear.gifSub Total

24551414

29.47

Total Public shareholding (B)

37664985

45.21

Total (A)+(B)

83320383

100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued

0

0.00

http://www.bseindia.com/include/images/clear.gif(1) Promoter and Promoter Group

0

0.00

http://www.bseindia.com/include/images/clear.gif(2) Public

0

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

0

0.00

Total (A)+(B)+(C)

83320383

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufactures of Dyes, Pigments, Agrochemicals, Pharmaceuticals and Rubber Chemicals. (From Indirect Sources)

 

 

Products :

Item Code No. (ITC Code)

Product Description

29049005

Para Nitro Chloro Benzene

29049004

Ortho Nitro Chloro Benzene

28070001

Sulphuric Acid

38081021

Quinalphos

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

Not Available

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Available

Name of the Person :

Not Available

Contact No.:

Not Available

Since How Long Known :

Not Available

Maximum Limit Dealt :

Not Available

Experience :

Not Available

Remark:

Not Available

 

 

Customers :

Reference :

Not Available

Name of the Person :

Not Available

Contact No.:

Not Available

Since How Long Known :

Not Available

Maximum Limit Dealt :

Not Available

Experience :

Not Available

Remark:

Not Available

 

 

No. of Employees :

2039 (Approximately)

 

 

Bankers :
  • Axis Bank Limited
  • Bank of Baroda
  • Citi Bank N.A.
  • DBS Bank Limited
  • Export-Import Bank of India
  • First Rand Bank
  • HDFC Bank Limited
  • IDBI Bank Limited
  • IndusInd Bank Limited
  • Kotak Mahindra Bank Limited
  • Societe Generale
  • Standard Chartered Bank
  • State Bank of India

 

 

Facilities :

Secured Loan

31.03.2015

(Rs. in Million)

31.03.2014

(Rs. in Million)

Long-term Borrowings

 

 

Non Convertible Debentures (NCDs)

2000.000

0.000

ECB/Term loans from Banks/Financial Institutions

2180.946

2544.346

Vehicle Loans from Banks/Financial Institutions

8.250

5.935

 

 

 

Short-term borrowings

 

 

Working Capital Loan from Banks

6046.225

6700.405

 

 

 

Total

10235.421

9250.686

 

LONG TERM BORROWING

 

Secured, Redeemable, STRPPS NCDs bearing coupon rate of 11.75% p.a. Debentures of Rs.20,00.000 Million are secured by way of First Pari Passu Hypothecation of the Moveable Plant and Machinery, Machinery Spares, Tools and Accessories and other movable fixed assets, both present and future, wherever situated, excluding those charged exclusively to other Term Lenders. The NCDs are issued in the year 2014-15 and are redeemable in five equal installments commencing from the end of the 3rd year from the date of allotment of these Debentures.

 

Out of the total ECB/Term Loans from Banks/Financial Institutions to Rs.3522.401 Million.

 

Outstanding Term Loans/ECBs to the extent of Rs.2459.901 Million are secured/to be secured by way of Pari Passu Joint Equitable Mortgage of the Company’s immovable properties situated at Sarigam, Vapi and Jhagadia, in the State of Gujarat, Pithampur in the State of Madhya Pradesh, Silvassa in the Union Teritorry of Silvassa and further by way of Pari Passu Hypothecation of the Moveable Plant & Machinery, Machinery Spares, Tools and Accessories and other movables, both present and future (except book debts, inventories and other current assets) wherever situated, excluding those charged exclusively to other Term Lenders.

 

Term Loan from Citibank to the extent of Rs.234.375 Million is secured by way of Exclusive Charge on the Moveable Plant & Machinery, Machinery Spares, Tools and Accessories and other movables, both present and future (except book debts, inventories and other current assets) situated at the new hydrogenation unit at Jhagadia Unit II.

 

ECB from DBS Bank to the extent of Rs.7812.500 Million is secured by way of Joint Equitable Mortgage of the Company’s immovable properties situated at Bhachau, in the State of Gujarat and further by way of Pari Passu Hypothecation of the Moveable Plant & Machinery, Machinery Spares, Tools and Accessories and other movables, both present and future (except book debts, inventories and other current assets) situated at the same unit.

 

Term Loan of Rs.750.000 Million from Societe General is secured by way of Pari Passu Hypothecation of the Moveable Plant and Machinery, Machinery Spares, Tools and Accessories and other movables, both present and future (except book debts, inventories and other current assets) wherever situated, excluding those charged exclusively to other Term Lenders.

 

Vehicle loans from Banks/Financial Institutions are secured by way of hypothecation of respective vehicles.

 

Particulars

Repayment Tenor

1-2 years

2-3 years

3-4 years

Beyond 4 years

NCDs/ECB/Term Loans from Banks/Financial Institutions

9,193.29

11,109.96

7,839.54

13,666.67

Vehicle Loans from Banks/Financial Institutions

71.21

11.29

NIL

NIL

 

              

SHORT TERM BORROWING

 

Working Capital Loans availed from Scheduled Banks, are secured/to be secured by way of Pari Passu first charge by hypothecation of Raw Materials, Stock-In-Process, Semi-Finished Goods, Finished Goods, Packing Materials and Stores and Spares, Bills Receivables and Book Debts and all other moveable, both present and future. Also by way of Joint Equitable Mortgage of the Company’s immovable properties situated at Sarigam, Vapi, Jhagadia and Bhachau in the State of Gujarat and at Tarapur in the State of Maharashtra and

further by way of hypothecation of all moveable plant & machinery, machinery spares, tools and accessories and other movables, both present and future (except book debts & inventories) wherever situated, ranking second to the charge held by NCDs/ECB/Term Lenders.

 

 

 

Auditors :

 

Name :

Gokhale and Sathe

Chartered Accountants

Address :

308/309, Udyog Mandir No.1, 7-C, Bhogoji Keer Marg, Mahim, Mumbai – 400 016, Maharashtra, India

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Subsidiaries:
  • Aarti Corporate Services Limited
  • Nascent Chemical Industries Limited (Through its holding Company: Aarti Corporate Services Limited.)
  • Shanti Intermediates Private Limited. (Through its holding Company: Aarti Corporate Services Limited)
  • Anushakti Specialities Limited Liability Partnership (LLP)
  • Alchemie (Europe) Limited
  • Innovative Envirocare Jhagadia Limited

 

 

Associates:

·         Ganesh Polychem Limited

·         Anushakti Chemicals and Drugs Limited

  • Anushakti Holdings Limited
  • Aarti Biotech Limited (Through its holding Company: Aarti Corporate Services Limited)
  • Aarti Intermediates Private Limited (Through its holding Company: Aarti Corporate Services Limited)
  • Perfect Enviro Control Systems Limited (Through its holding Company: Aarti Corporate Services Limited)
  • Perfect Enviro Control Systems Limited (Through its holding Company: Aarti Corporate Services Limited

 

 

Enterprises/Firms over which controlling individuals/Key Management Personnel, of the Company along with their relatives, have significant influence:
  • Alchemie Pharma Chem Limited
  • Alchemie Industries
  • Gogri and Sons Investments Private Limited
  • Alchemie Leasing and Financing Private Limited
  • Alchemie Laboratories
  • Aarti Drugs Limited
  • Alchemie Dye Chem Private Limited

 

 

CAPITAL STRUCTURE

 

As on 31.03.2015

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

12,50,00,000

Equity Shares

Rs.5/- each

Rs.625.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

8,85,91,687

Equity Shares

Rs.5/- each

Rs.442.958 Million

 

 

 

 

 

Reconciliation of the number of Shares outstanding as on 31st March, 2015:

 

Particulars

No. of Shares outstanding

As at

31st March, 2015

Equity shares at the beginning of the year

88,591,687

Add: Shares Issued during the year

NIL

Less: Shares buy back during the year

NIL

Equity shares at the end of the year

88,591,687

 

Details of Shareholders holding more than 5% shares:

 

Name of Shareholder

As at 31st March, 2015

No. of

Shares held

%

held

Anushakti Holdings Limited

7,085,301

8.00

HDFC Trustee Company Limited – HDFC Prudence Fund

6,480,510

7.32

Gogri and Sons Investments Private Limited

5,973,773

6.74

Alchemie Leasing and Financing Private Limited

5,309,098

5.99

 

The details of Equity Shares outstanding during last 5 years:

 

Particulars

Financial Year

2014-15

2013-14

2012-13

2011-12

2010-11

No. of Equity Shares outstanding:

88,591,687

88,591,687

79,120,073

76,720,073

76,720,073

 

Note on Issued, Subscribed and Paid up Equity Share Capital:

 

8,43,649 (previous year 8,43,649) were issued to Shareholders of Surfactant Specialities Limited pursuant to its Merger with the Company.

 

42,000 (previous year 42,000) were issued to Shareholders of Avinash Drugs Limited pursuant to its Merger with the Company.

 

30,25,000 (previous year 30,25,000) were issued towards Preferential allotment at a premium of `Rs.30.65 paise to Warrantholders.

 

24,00,000 (previous year 24,00,000) have been issued towards Preferential allotment at a premium of `Rs.53/- to Warrantholders.

 

94,71,614 (previous year 94,71,614) were issued to Shareholders of Anushakti Chemicals and Drugs Limited pursuant to its Scheme of arrangement with the Company.

 

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

442.958

442.958

395.600

(b) Reserves & Surplus

8635.410

7343.988

6323.452

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

47.358

Total Shareholders’ Funds (1) + (2)

9078.368

7786.946

6766.410

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

4189.196

2550.281

1167.407

(b) Deferred tax liabilities (Net)

1024.592

844.592

707.092

(c) Other long term liabilities

1.852

73.197

2.037

(d) long-term provisions

3001.661

2556.661

2171.661

Total Non-current Liabilities (3)

8217.301

6024.731

4048.197

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

6473.217

6858.376

6850.084

(b) Trade payables

2526.628

3678.359

2158.461

(c) Other current liabilities

1563.075

1010.355

637.629

(d) Short-term provisions

330.273

289.819

268.034

Total Current Liabilities (4)

10893.193

11836.909

9914.208

 

 

 

 

TOTAL

28188.862

25648.586

20728.815

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

9360.485

7932.017

6640.988

(ii) Intangible Assets

0.437

0.855

1.273

(iii) Capital work-in-progress

1879.526

1126.112

620.083

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

632.365

322.496

185.952

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

4299.579

3861.617

3126.240

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

16172.392

13243.097

10574.536

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

5438.703

6033.321

4621.230

(c) Trade receivables

4668.143

4657.732

4286.528

(d) Cash and cash equivalents

263.301

123.542

97.106

(e) Short-term loans and advances

1374.132

1295.918

896.438

(f) Other current assets

272.191

294.976

252.977

Total Current Assets

12016.470

12405.489

10154.279

 

 

 

 

TOTAL

28188.862

25648.586

20728.815

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

Income

28706.454

26327.772

20961.176

 

Other Income

19.723

104.246

43.961

 

TOTAL (A)

28726.177

26432.018

21005.137

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

16460.245

16307.884

12622.725

 

Purchases of Stock-in-Trade

1321.382

1168.589

931.178

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

172.199

(620.514)

(710.689)

 

Employees benefits expense

897.142

757.274

636.137

 

Other expenses

5290.795

4759.645

3919.368

 

Exceptional 

-34.818

0.000

0.000

 

TOTAL (B)

24106.945

22372.878

17398.719

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

4619.232

4059.140

3606.418

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

1374.773

1175.335

949.980

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)

3244.459

2883.805

2656.438

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

786.485

874.355

818.004

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

2457.974

2009.450

1838.434

 

 

 

 

 

Less

TAX (H)

580.000

522.500

525.000

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

1877.974

1486.950

1313.434

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD  (K)

5173.307

4202.106

3433.084

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

1st Interim Dividend

199.331

155.035

110.740

 

2nd Interim Dividend

132.888

11.074

243.628

 

Proposed Dividend

155.035

132.887

58.544

 

Tax on Dividend

97.986

67.753

131.500

 

Transferred to General Reserve 

190.000

149.000

0.000

 

Transferred to Debenture Redemption Reserve

300.000

0.000

0.000

 

Effect of change in useful life of Fixed Assets 

1.312

0.000

0.000

 

 

 

 

 

 

Total (M)

1076.552

515.749

544.412

 

 

 

 

 

 

Balance Carried to the B/S (J+K+L-M)

5974.729

5173.307

4202.106

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

13359.042

12143.712

9923.781

 

Freight

 

 

 

 

Insurance

 

 

 

 

TOTAL EARNINGS

13359.042

12143.712

9923.781

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

46.546

60.780

129.759

 

Components and Stores parts

3316.533

3769.924

2648.259

 

Capital Goods

12.694

6.928

2.085

 

Fuel

508.220

246.850

155.232

 

TOTAL IMPORTS

3883.993

4084.482

2935.335

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

21.2

16.78

14.83

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

1341.454

950.073

430.784

Cash generated from operations

4158.899

3436.542

2751.804

Net cash flow from operating activity

3569.653

2922.455

2167.366

 

 

QUARTERLY RESULTS

 

Particulars

30.06.2015

30.09.2015

UnAudited

1st Quarter

2nd Quarter

Net Sales

6830.700

6564.500

Total Expenditure

5513.500

5247.600

PBIDT (Excl OI)

1317.200

1316.900

Other Income

1.900

4.700

Operating Profit

1319.100

1321.600

Interest

302.900

296.500

Exceptional Items

NA

NA

PBDT

1016.200

1025.100

Depreciation

217.400

225.800

Profit Before Tax

798.800

799.300

Tax

189.800

187.200

Provisions and contingencies

NA

NA

Profit After Tax

609.000

612.100

Extraordinary Items

NA

NA

Prior Period Expenses

NA

NA

Other Adjustments

NA

NA

Net Profit

609.000

612.100

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

6.54

5.65

6.27

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

16.09

15.42

17.21

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

9.57

8.30

9.23

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.27

0.26

0.27

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.32

1.33

1.25

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.10

1.05

1.02

 

 

STOCK PRICES

 

Face Value

Rs.5.00

Market Value

Rs.486.15

 

 

 

 

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

395.600

442.958

442.958

Reserves & Surplus

6323.452

7343.988

8635.410

 Share Application money pending allotment

47.358

0.000

0.000

Net worth

6766.410

7786.946

9078.368

long-term borrowings

1167.407

2550.281

4189.196

Short term borrowings

6850.084

6858.376

6473.217

Current Maturities of Long-Term Debts

430.784

950.073

1341.454

Total borrowings

8448.275

10358.730

12003.867

Debt/Equity ratio

1.249

1.330

1.322

 

 

 

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

20961.176

26327.772

28706.454

 

 

25.603

9.035

 

 

 

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

20961.176

26327.772

28706.454

Profit

1313.434

1486.950

1877.974

 

6.27%

5.65%

6.54%

 

 

 

 

 

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)

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

 

 

 

 

 

LITIOGATION DETAILS:

 

HIGH COURT OF GUJARAT

TAX APPEAL No. 296 of 2013 To TAX APPEAL No. 299 of 2013

 

Status : PENDING

CCIN No : 001092201300296

 

Last Listing Date:

22/12/2014

Coram

·         HONOURABLE MR.JUSTICE KS JHAVERI

·         HONOURABLE MR.JUSTICE K.J.THAKER

S.NO.

Name of the Petitioner

Advocate On Record

1

COMMISSIONER OF INCOME TAX (TDS)

MRS MAUNA M BHATT for: Appellant(s) 1

S.NO.

Name of the Respondant

Advocate On Record

1

AARTI INDUSTRIES LTD

MR B S SOPARKAR for :Opponent(s) 1

Presented On

: 02/04/2013

Registered On

: 04/04/2013

Bench Category

: DIVISION BENCH

District

: AHMEDABAD

Case Originated From

: THROUGH HIS/HER/THEIR ADVOCATE

Listed

: 2 times

StageName

: WARNED LIST - TAX APPEAL

 

Classification
  • DB - OJ - TAX APPEAL - INCOME TAX ACT, 1961 - APPEAL TO HIGH COURT - U/S 260 OF IT ACT - LONG TERM CAPITAL GAIN - U/S 54EA

Act
  • INCOME-TAX ACT, 1961

 

Other Forums

 

S.No.

CASEDETAILS

TRIBUNAL REFERRENCE

ORDER PASSED BY

JUDGEMENT DATE

PLACE

1

ITA/3020/AHD/2010

INCOME TAX APPELLATE TRIBUNAL AHMEDABAD A BENCH

JUDICIAL MEMBER AND ACCOUNTANT MEMBER

25/10/2012

AHMEDABAD

Office Details

 

S. No.

Filing Date

Document Name

Advocate Name

Court Fee on Document

Document Details

1

02/04/2013

CERTIFIED COPY

MRS MAUNA M BHATT ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

6

MRS MAUNA M BHATT:1

2

02/04/2013

MEMO OF APPEAL/PETITION/SUIT

MRS MAUNA M BHATT ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

20

MRS MAUNA M BHATT:1

3

04/04/2013

DOCUMENT

RULE NOT RECD BACK
for RESPONDENT(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

-

RULE NOT RECD BACK:1

4

02/07/2013

VAKALATNAMA

MR B S SOPARKAR ADVOCATE
for RESPONDENT(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

5

MR B S SOPARKAR(6851), for R:1

Court Proceedings

 

S. No.

Notified Date

CourtCode

Board Sr. No.

Stage

Action

Coram

1

08/04/2013

7

43

FOR FINAL HEARING

RULE/ADMIT

·         HONOURABLE MR.JUSTICE AKIL KURESHI

·         HONOURABLE MS JUSTICE SONIA GOKANI

2

22/12/2014

51

91

WARNED LIST - TAX APPEAL

·         HONOURABLE MR.JUSTICE KS JHAVERI

·         HONOURABLE MR.JUSTICE K.J.THAKER

 

Available Orders

 

S. No.

Case Details

Judge Name

Order Date

CAV

Judgement

Questions

Transferred

1

TAX APPEAL/296/2013

·         HONOURABLE MR.JUSTICE AKIL KURESHI

·         HONOURABLE MS JUSTICE SONIA GOKANI

08/04/2013

N

ORDER

-

Y

Certified Copy

 

S. No.

ApplicantName

ApplicationType

Application Date

UOL Number

Order Date

Notify Date

Delivery Date

Status

Nature Of Document

1

MRS MAUNA M BHATT

ORDINARY

09/04/2013

O/11987/2013

08/04/2013

10/04/2013

12/04/2013

Delivered

ORDER

 

 

ORDINARY BUSINESS

 

To receive, consider and adopt the Balance Sheet as at 31st March, 2015 and the Statement of Profit and Loss for the year ended on that date and the Reports of the Directors’ and Auditors’ thereon.

 

To declare a final dividend for the financial year ended 31st March, 2015.

 

CHEMICAL INDUSTRY – STRUCTURE AND DEVELOPMENT

 

Speciality Chemicals are a group of high value, low volume chemicals formulated for developing/enhancing properties of specific products. The customised product requires special technologies, process expertise and

understanding of client needs, and so the industry typically commands limited competition, yielding higher gross margins and returns than other chemical sub-segments.

 

The Global Speciality Chemicals market is growing at a fast pace. Despite the economic recession, it has recovered and is showing signs of high growth in the future. According to TechNavio Analysis, the Global Speciality Chemicals market is expected to grow.

 

 

UNSECURED LOAN

 

PARTICULARS

31.03.2015

(Rs. in Million)

31.03.2014

(Rs. in Million)

SHORT TERM BORROWING

 

 

From Banks

426.992

157.971

 

 

 

Total

426.992

157.971

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10581438

18/06/2015

12,000,000,000.00

IDBI BANK LIMITED

47,OPUS CENTER, MIDC ANDHERI EAST, MUMBAI, Maharashtra - 400093, INDIA

C59572917

2

10571285

30/01/2015

1,000,000,000.00

IDBI Bank Limited

Shop No. 13 to 18, Centre Point Building,, Near Mahavir Char Rasta, N.H. No. 8, Vapi, Valsad, Gujarat - 396195, INDIA

C54564968

3

10547974

29/10/2014

2,000,000,000.00

IDBI TRUSTEESHIP SERVICES LIMITED

Asian Bldg., Ground Floor, 17, R.Kamani Marg,, Ballard Estate,, MUMBAI, Maharashtra - 400001, INDIA

C38977849

4

10475423

24/04/2014 *

13,775,000,000.00

STATE BANK OF INDIA

COMMERCIAL BRANCH, MUMBAI, NGN VAIDYA MARG, FORT, 
, MUMBAI, Maharashtra - 400001, INDIA

C05478441

5

10469995

11/12/2013

750,000,000.00

STATE BANK OF INDIA

COMMERCIAL BRANCH, MUMBAI, NGN VAIDYA MARG, FORT, 
, MUMBAI, Maharashtra - 400001, INDIA

B93436699

6

10459225

21/03/2014 *

950,000,000.00

INDUSIND BANK LTD.

2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, Maharashtra - 411001, INDIA

C05258702

7

10465719

14/11/2013

300,000,000.00

ING VYSYA BANK LIMITED

PLOT NO. C-12, G BLOCK,, BANDRA-KURLA COMPLEX, BANDRA,, MUMBAI, Maharashtra - 400051, INDIA

B91775379

8

10459809

21/03/2014 *

450,000,000.00

KOTAK MAHINDRA BANK LIMITED

27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E),, Mumbai, Maharashtra - 400051, INDIA

C12146601

9

10452990

18/09/2013

631,400,000.00

IDBI Trusteeship Services Ltd.

Asian Building, Ground Floor, 17,, R. Kamani Marg 
, Ballard Estate,, MUMBAI, Maharashtra - 400001, I 
NDIA

B86628591

10

10424578

26/04/2013

541,200,000.00

Standard Chartered Bank

Abhijeet II, Ground Floor,, Near Mithakali Six Road,, Ahmedabad, Gujarat - 380006, INDIA

B74713702

 

 

AUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF 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

Income From Operations

 

 

 

 

a. Net Sales/ Income from  Operations

(Net of Excise Duty)

6467.400

6659.500

13126.900

 

b. Other Operating Income

97.100

171.200

268.300

 

Total Income from Operations (Net)

6564.500

6830.700

13395.200

2

Expenditure

 

 

 

 

a. Cost of material Consumed

3476.700

3562.700

7039.400

 

b. Purchase of Stock-in trade

278.400

384.000

662.400

 

c. Changes in inventory of finished Goods, work- in-progress and Stock-in-trade

(117.100)

19.600

(97.500)

 

d. Increase (Decrease) in Excise duty on Closing Stock of Finished Goods

0.000

0.000

0.000

 

e. Employees Benefit Expenses

258.100

245.400

503.500

 

f. Depreciation and Amortization Expenses

225.800

217.400

443.200

 

g. Other expenses

1351.500

1301.800

2653.300

 

 

 

 

 

 

Total Expenses

5473.400

5730.900

11204.300

 

 

 

 

 

3

Profit from Operations before Other Income, Interest and Exceptional Items

1091.100

1099.800

2190.900

4

Other Income

4.700

1.900

6.600

5

Profit from ordinary activities before finance cost & exceptional items

1095.800

1101.700

2197.500

 

Finance costs

296.500

302.900

599.400

 

Profit from ordinary activities after finance cost & exceptional items

799.300

798.800

1598.100

9

Exceptional items

0.000

0.000

0.000

10

Profit from ordinary activities before tax

799.300

798.800

1598.100

11

Tax Expense

187.200

189.800

377.000

12

Net profit from ordinary Activities after tax

612.100

609.000

1221.100

13

Extra Ordinary Items (Net of tax expenses)

0.000

0.000

0.000

14

Net Profit After Tax

612.000

609.000

1221.100

15

Paid-up equity share capital (face value of Rs.10 per share)

416.600

443.000

416.600

16

Reserves excluding Revaluation Reserve as per balance sheet of previous accounting Year

0.000

0.000

0.000

17

Earning Per Share (of Rs.10 each) (not annualized)

 

 

 

 

Before extraordinary items

 

 

 

 

Basic EPS 

7.35

6.87

14.66

 

Diluted EPS

7.35

6.87

14.66

 

 

 

 

 

A

PARTICULARS OF SHAREHOLDING

 

 

 

17

Public Shareholding

 

 

 

 

- No. of shares

37664985

36252664

37664985

 

- Percentage of shareholding

45.21

40.92

45.21

18

Promoter & Promoter Group Shareholding

 

 

 

 

a) Pledged/Encumbered

 

 

 

 

- No. of shares

Nil

Nil

Nil

 

- Percentage of shareholding (as a % of the total shareholding of promoter and promoter group)

Nil

Nil

Nil

 

- Percentage of shareholding (as a % of the total share capital of the company)

Nil

Nil

Nil

 

b) Non-encumbered

 

 

 

 

- No. of shares

45655398

52339023

45655398

 

- Percentage of shareholding (as a % of the total shareholding of promoter and promoter group)

100.00

100.00

100.00

 

- Percentage of shareholding (as a % of the total share capital of the company)

54.79

59.08

54.79

 

 

Particulars

Quarter Ended

B

Investor Complaints

(30.06.2015)

 

Pending at the beginning of the quarter

Nil

 

Received during the quarter

13

 

Disposed off during the quarter

13

 

Remaining unresolved at the end of the quarter

Nil

 

SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE QUARTER ENDED 30TH SEPTEMBER 2015

(Rs. In Million)

Sr.

No

 

 

Particulars

Quarter Ended

( Unaudited)

Quarter Ended

( Unaudited)

Half Year Ended

( Unaudited)

 

 

30.09.2015

30.06.2015

30.09.2015

1

Segment Revenue

 

 

 

 

A.    Speciality Chemicals

5457.500

5579.400

11036.900

 

B.    Pharmaceuticals

838.600

907.800

1746.400

 

C.    Home and Personal care Chemicals

268.400

343.500

611.900

 

Total

6564.500

6830.700

13395.200

 

 

 

 

 

2.

Segment Results (Profit/Loss)

 

 

 

 

Before Interest and Tax

 

 

 

 

Profit (+) / Loss (-) :

 

 

 

 

D.    Speciality Chemicals

1133.600

1183.500

2317.100

 

E.    Pharmaceuticals

94.500

55.900

150.400

 

F.    Home and Personal care Chemicals

7.200

10.600

17.800

 

Total

1235.300

1250.000

2485.300

 

Less : Interest

296.500

302.900

599.400

 

        : Other Unallocable expenditure net of Income

139.500

148.300

287.800

 

Total Profit before Tax

799.300

798.800

1598.100

 

 

 

 

 

3

Capital Employed

 

 

 

 

 

 

 

 

 

G.    Speciality Chemicals

14726.900

14648.000

14726.900

 

H.    Pharmaceuticals

5053.100

4979.900

5053.100

 

I.      Home and Personal care Chemicals

898.100

838.400

898.100

 

J     Unallocable Capital

469.500

608.400

469.100

 

Total Capital Employed

21147.600

21074.700

21147.600

 

STANDALONE STATEMENT OS ASEETS AND LIABILITIES

(Rs. In Million)

SOURCES OF FUNDS

30.09.2015

 

 

I.              EQUITY AND LIABILITIES

 

(1)Shareholders' Funds

 

(a) Share Capital

416.600

(b) Reserves & Surplus

9520.700

(c) Money received against share warrants

0.000

 

 

(2) Share Application money pending allotment

0.000

Total Shareholders’ Funds (1) + (2)

9937.300

 

 

(3) Non-Current Liabilities

 

(a) long-term borrowings

4776.700

(b) Deferred tax liabilities (Net)

1109.600

(c) Other long term liabilities

1.800

(d) long-term provisions

2968.500

Total Non-current Liabilities (3)

8856.600

 

 

(4) Current Liabilities

 

(a) Short term borrowings

6431.800

(b) Trade payables

2975.400

(c) Other current liabilities

870.700

(d) Short-term provisions

442.200

Total Current Liabilities (4)

10720.100

 

 

TOTAL

29514.000

 

 

II.          ASSETS

 

(1) Non-current assets

 

(a) Fixed Assets

 

(i) Tangible assets

12424.800

(ii) Intangible Assets

0.000

(iii) Capital work-in-progress

0.000

(iv) Intangible assets under development

0.000

(b) Non-current Investments

642.100

(c) Deferred tax assets (net)

0.000

(d)  Long-term Loan and Advances

4293.000

(e) Other Non-current assets

0.000

Total Non-Current Assets

17359.900

 

 

(2) Current assets

 

(a) Current investments

0.000

(b) Inventories

5523.300

(c) Trade receivables

5023.400

(d) Cash and cash equivalents

260.500

(e) Short-term loans and advances

1169.700

(f) Other current assets

177.200

Total Current Assets

12154.100

 

 

TOTAL

29514.000

 

The above results for the quarter and half year ended 30th September. 2015 have been reviewed by the Audit Committee and approved by the Board of Directors in their meeting held on 5th November, 2015.

Pursuant to the scheme of amalgamation between Gogri and Sons Investments Private Limited and Alchemie Leasing and Financing Private Limited and Anushakti Holdings Limited and Anushakti Chemical and Drugs Limited with Aarti Industries Limited 1,67,26,401 equity shares of Rs.5 each have been allotted to the shareholders of transferor Companies and 2,19,97,705 equity shares of Rs. 5 each have been cancelled of transferee Company. Hence the new Share Capital of the Company is 141,66,01,915. i.e 8,33,20,383 equity shares of Rs. 5 each fully paid up. As a result the paid up capital, EPS and shareholding details for the quarter ended 30th September, 2015, is not comparable with previous period's respective details.

 

The Board of Directors have declared Interim Dividend of Rs.3/- per Equity Share of  Rs. 5/- each (60%) amounting to Rs. 249.961 Million- and 11th November, 2015 has been fixed as record date for the payment of the said Interim Dividend.


Formulae for computation of ratios are as follows:


Debt Service Coverage Ratio = Earnings before Interest and Tax/(interest Expenses + Principal Repayment of Term loan during the period)


Interest Service Coverage Ratio = Earnings before Interest and Tax/Interest Expenses for the period)

Figures for the previous period have been regrouped or rearranged wherever necessary.

 

 

CONTINGENT LIABILITIES:

 

(Rs. in million)

PARTICULARS

31.03.2015

31.03.2014

Claims against the Company not acknowledged as Debts

485.580

390.853

Letters of Credit, Bank Guarantees & Bills Discounted

331.844

753.989

 

 

FIXED ASSETS

 

  • Free Hold Land
  • Lease Hold Land
  • Buildings
  • Plant and Equipment
  • Furniture and Fixtures
  • Vehicles
  • Goodwill
  • Computer Software

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.74

UK Pound

1

Rs.101.36

Euro

1

Rs.74.27

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

SUD

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

7

PAID-UP CAPITAL

1~10

7

OPERATING SCALE

1~10

8

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

7

--PROFITABILITY

1~10

7

--LIQUIDITY

1~10

7

--LEVERAGE

1~10

7

--RESERVES

1~10

7

--CREDIT LINES

1~10

7

--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

 

64

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.