MIRA INFORM REPORT
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Report No. : |
306929 |
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Report Date : |
07.02.2015 |
IDENTIFICATION DETAILS
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Name : |
HINDALCO INDUSTRIES LIMITED |
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Registered
Office : |
Century Bhavan, 3rd Floor, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
15.12.1958 |
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Com. Reg. No.: |
11-011238 |
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Capital Investment
/ Paid-up Capital : |
Rs.2064.800 Millions |
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CIN No.: [Company Identification
No.] |
L27020MH1958PLC011238 |
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TIN No.: |
Not Available |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction & Collection
Account No.] |
MUMI05060G |
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PAN No.: [Permanent Account No.] |
AAACH1201R |
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Legal Form : |
A Public Limited Liability Company.
The Company’s Shares are Listed on the Stock Exchanges. |
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Line of Business
: |
Manufacturer of
Aluminum and Copper. |
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
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MIRA’s Rating : |
Aa (74) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is one of the largest integrated aluminum manufacturer in
India. It is a well-established and reputed company having fine track record. The rating reflects company’s healthy financial risk profile marked by
adequate liquidity position and decent profitability levels of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. 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.
EXTERNAL AGENCY RATING
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Rating Agency Name |
CRISIC |
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Rating |
Long Term Rating = AA |
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Rating Explanation |
High degree of safety and very low credit risk |
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Date |
26.09.2014 |
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Rating Agency Name |
CRISIC |
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Rating |
Short Term Rating = A1+ |
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Rating Explanation |
Very strong degree of safety and lowest credit risk |
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Date |
26.09.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DENIED
Management Non Co-Operative (Tel No.: 91-22-66525000)
LOCATIONS
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Registered Office/ Marketing Head Office: |
Century Bhavan, 3rd Floor, Dr. Annie Besant Road, Worli, Mumbai –
400 025, Maharashtra, India |
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Tel. No.: |
91-22-24308491 /
92 / 93 / 66626666 |
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Fax No.: |
91-22-24227586 /
24362516 |
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E-Mail : |
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Website : |
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Corporate
Office 1/ - Marketing Head Office
(Copper) : |
Aditya Birla
Centre, III Floor, B Wing, S. K. Ahire Marg, Worli, Mumbai – 400030, |
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Tel No.: |
91-22-66525000 / 24995000 |
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Fax No.: |
91-22-66525847 / 24995841 |
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Email : |
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Website: |
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Corporate
Office 2: |
Foil and Packaging Business, Kalwa
Works, Thane Belapur Road, Near Vitawa
Village, Kalwa, Thane-400 605, Maharashtra,
India |
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Tel. No.: |
91-22-25347151 |
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Fax No. : |
91-22-24227586 |
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Email : |
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Domestic Marketing
- West Zone |
264-265, Vasvani Chambers, 2nd Floor, Dr. Annie Besant Rd, Opposite Old Passport Office, Worli, Mumbai - 400 030, Maharashtra, India |
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Tel. No.: |
91-22-49204252 |
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Fax No. : |
91-22-49204500 |
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Email : |
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Regional
Office – Aluminum : |
Ahura Centre, 1st Floor, 82, Mahakali Caves Road, Mumbai – 400093, Maharashtra,
India Tel No.: 91-22-66917031 / 30 / 37 / 40 /00 Fax No.:91-22-66917070 Vandhana, 5th Floor ,11 Tolstoy Marg, New Delhi – 110001, India Tel No.: 91-11-42200204 / 228 / 230 / 271 / 200 Fax No.:91-11-23721595 Jeevan Deep, 2nd Floor 1, Middleton Street Kolkata – 700071, West Bengal, India Tel No.: 91-33-22809710 Fax No.:91-33-22886139 Industry House, 7th Floor, 45, Race Course Road, Bangalore – 560001, Karnataka, India Tel No.:91-80-4041 6010 / 21 / 22 / 00 |
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Principal
Office and Works / Renusagar
Power Division : |
District Sonbhadra, P. O. Renukoot –
231217, Mirzapur, Uttar Pradesh, India |
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Tel. No.: |
91-5446-252077-9/
272501-5 |
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Fax No.: |
91-5446-252107 /
252427/ 272382 |
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E-Mail : |
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Birla
Copper Division: |
P. O. Dahej, Lakhigam, District Bharuch – 392130, Gujarat, India |
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Tel. No.: |
91-2641-256004-06/251009 |
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Fax No.: |
91-2641-251002-3 |
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E-Mail : |
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Foil and Wheels Division: |
Village Khutli, Khanvel, Silvassa – 396230, |
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Tel. No.: |
91-260-2677021-4 |
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Fax No.: |
91-260-2677025 |
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Export Office: |
9/1, R. N. Mukherjee Road, Kolkata –
700001, West Bengal, India |
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Tel. No.: |
91-33-22480949 /
22200464 |
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Fax No.: |
91-33-22200214 |
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Email: |
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Factory : |
ALUMINIUM
AND POWER Renukoot Plant P.O. Renukoot -231217, District Sonbhadra, Uttar Pradesh, India Tel No.:
91-5446-252077-9 Fax No.:91-5446-252107 Renusagar Power Division P. O. Renusagar, District Sonbhadra, Uttar Pradesh, India Tel No.:
91-5446-272502-5 Fax No.:
91-5446272382 Hirakud Smelter Hirakud 768
016, District Sambalpur, Orissa,
India Tel No.:
91-663- 2481307/1452 Fax No.:91-663-2481356 Hirakud Power Post Box No.12, Hirakud 768 016,
District: Sambalpur, Orissa
Alupuram, India Tel No.: 91-663- 2481307 Fax No.: 91-663- 2481342/365 Mahan Aluminium NH-75-E, Singrauli, Sidhi Road, P.O., Bargawan, District- Singaruli - 486886, Madhya Pradesh, India Tel No.: 07805281014 Aditya Aluminium Lapanga, District Sambalpur – 768212, Orissa, India Tel No.:91- 663-2114424 Fax No.: 91- 663-2590434 COPPER: Birla Copper Division P.O. Dahej, Lakhigam
Post, District. Bharuch – 392 130, Tel No.: 91-2641- 256004-06/ 251009 Fax No.:
91-2641- 251002-3 CHEMICALS: Muri Alumina Post Chotamuri-835 101, District Ranchi,
India Tel No.: : 91-6522- 244396 Fax No.:
91-6522-244231 Village Yamanapur , Tel No.: 91-831-2472716 Fax No.:91-831-2472728 MINES Chandgad Mines At Post: Chandgad – 416509,
District: Kolhapur, Maharashtra,
India Tel/Fax: (02320) 213342 Durgmanwadi Mines At Post Radhanagri, District: Kolhapur, Maharashtra – 416
212, India Tel No.:
91-2321-260036 Fax No.:
91-2321-260037 Lohardaga Mines District: Lohardaga – 835 302, Jharkhand, India Tel No.:
91-6526-224446 Fax No.:
91-6526-224446 Talabira Mines Talabira-1, Qrs. No. A6/1, Saraswati
Vihar, P.O. Sankarma,
District Sambalpur, Orissa,
India Tel No.:
91-663-2230573 SHEET,
FOIL, WHEEL, PACKAGING AND EXTRUSIONS Foils and Wheels Division, Village Khutli,
Khanvel, Silvassa-396230, U.T.,
India Tel No.: 91-260-2677021/4 Fax No.: 91-260-2677025 Belur Sheet 39, Grand Trunk Road, Belurmath
711 202, District: Howrah, West Bengal,
India Tel No.: 91-33-26547210 Fax No.:
91-33-26549982 Taloja Sheet Plot 2, MIDC Industrial Area, Taloja
A.V., District: Raigad, Navi
Mumbai – 410 208, Maharashtra, India Tel No.
91-22-27412261/ 66292929 Fax No.:
91-22-27412430 Alupuram Extrusions Alupuram,
P.B. No.30, Kalamassery – 683 104, District: Ernakulam, Kerala,
India Tel No.:
91-484-2532441 Fax No.: 91-484- 2532468 Mouda Unit Village Dahali, Tel No:
91-7115-660777/786 Kollur Works Village- Kollur, Re Puram Mandal, Via Mutangi, Medak District, Andhra
Pradesh – 502 300, India Tel No::
91-8413- 234300/ 234204/05 Fax No.:
91-8455-288829 Hirakud FRP Hirakud, District – Sambalpur -– 768016, Orissa, India Tel No.:91-663-6625000 Fax No.:91-663-2481344 |
DIRECTORS
As on 31.03.2014
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Name : |
Mr. Kumar Mangalam
Birla |
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Designation : |
Chairman |
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Address : |
16-A, IL-Palazzo, Little Gibbs Road, Mumbai – 400 006, Maharashtra, India |
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Qualification : |
A.C.A, M.B.A. |
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Date of Birth : |
14.06.1967 |
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Date of Appointment : |
16.11.1992 |
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Name : |
Mr. Debnaranyan
Bhattacharya |
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Designation : |
Managing Director |
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Qualification : |
B. E. (Chemicals), IIT |
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Date of Birth : |
13.09.1948 |
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Date of Appointment : |
30.04.2003 |
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Name : |
Mr. Satish Pai, |
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Designation : |
Deputy Managing Director |
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Name : |
Mrs. Rajashree Birla |
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Designation : |
Non-Executive Director |
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Address : |
16-A, IL- Palazzo, Little Gibbs Road, Mumbai – 400 006, Maharashtra, India |
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Date of Appointment : |
15.03.1996 |
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Name : |
Mr. Madhukar Manilal
Bhagat |
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Designation : |
Non-Executive Directors |
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Name : |
Mr. Kailash Nath Bhandari |
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Designation : |
Non-Executive Directors |
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Name : |
Mr. Askaran K. Agarwala |
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Designation : |
Non-Executive Director |
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Address : |
“Haveli”, Flat No.3, L.D. Ruparel Marg, Mumbai – 400 006,
Maharashtra, India |
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Qualification : |
B.Com, F.C.A, LLB |
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Date of Birth : |
01.07.1993 |
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Date of Appointment : |
11.09.1998 |
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Name : |
Mr. Narendra Jamnadas
Jhaveri |
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Designation : |
Non-Executive Directors |
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Name : |
Mr. Ram Charan |
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Designation : |
Non-Executive Directors |
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Name : |
Mr. Jagdish Khattar |
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Designation : |
Non-Executive Directors |
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Qualification : |
BA (Hons), LLB |
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Date of Birth : |
18.12.1942 |
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Date of Appointment : |
09.05.2011 |
KEY EXECUTIVES
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Name : |
Mr. Anil Malik |
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Designation : |
Company Secretary |
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Name : |
Mr. Praveen Maheshwari |
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Designation : |
Chief Financial Officer |
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BUSINESS / UNIT HEAD: |
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Name : |
Mr. Dilip Gaur |
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Designation : |
Group Executive President, Copper |
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Name : |
Mr. Sachin Satpute |
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Designation : |
Chief Marketing
Officer, Aluminium |
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Name : |
Mr. Satish Mohan Bhatia |
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Designation : |
Chief Marketing Offi cer, Aluminium |
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Name : |
Mr. Sanjay Sehgal |
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Designation : |
President (Chemicals) |
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Name : |
Mr. Dinesh Kumar Kohly |
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Designation : |
Chief Operating Offi cer (Renukoot, Renusagar & Mahan Units) |
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Name : |
Mr. B. Arun Kumar |
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Designation : |
President (Operations) |
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CORPORATE : |
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Name : |
Mr. Bharat Bhushan Jha |
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Designation : |
Senior President
(Corporate Projects and Procurement) |
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Name : |
Mr. Vineet Kaul |
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Designation : |
Chief People Officer |
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NOVELIS INC |
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Name : |
Mr. Debnarayan Bhattacharya |
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Designation : |
Vice Chairman |
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Name : |
Mr. Philip Martens |
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Designation : |
President and Chief Executive Officer |
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UTKAL ALUMINA INTERNATIONAL LIMITED |
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Name : |
Mr. Vijay Sapra |
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Designation : |
President |
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ADITYA BIRLA MINERALS LIMITED |
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Name : |
Mr. Debnarayan Bhattacharya |
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Designation : |
Chairman |
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Name : |
Mr. Sunil Kulwal |
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Designation : |
Chief Executive Officer and MD |
SHAREHOLDING PATTERN
As on 31.12.2014
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Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
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(A) Shareholding of Promoter and Promoter Group |
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|
2398696 |
0.13 |
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|
745082362 |
39.15 |
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16316130 |
0.86 |
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|
16316130 |
0.86 |
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|
763797188 |
40.13 |
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Total shareholding of Promoter and Promoter Group (A) |
763797188 |
40.13 |
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(B) Public Shareholding |
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27945405 |
1.47 |
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38139667 |
2.00 |
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|
345520 |
0.02 |
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196103028 |
10.30 |
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|
596080896 |
31.32 |
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|
858614516 |
45.11 |
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|
89423555 |
4.70 |
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|
133747517 |
7.03 |
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|
9110672 |
0.48 |
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|
48488015 |
2.55 |
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|
10476872 |
0.55 |
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|
1615739 |
0.08 |
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|
32554920 |
1.71 |
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|
3840484 |
0.20 |
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|
280769759 |
14.75 |
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Total Public shareholding (B) |
1139384275 |
59.87 |
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Total (A)+(B) |
1903181463 |
100.00 |
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(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
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|
14542309 |
0.00 |
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|
147239955 |
0.00 |
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|
161782264 |
0.00 |
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Total (A)+(B)+(C) |
2064963727 |
0.00 |
Shareholding of securities
(including shares, warrants, convertible securities) of persons belonging to
the category Promoter and Promoter Group
|
Name of
Shareholder |
No. of
Shares |
Percentage
of Holding |
|
Igh
Holdings Private Limited |
349963487 |
16.95 |
|
Turquoise Investments And Finance Private Limited |
124012468 |
6.01 |
|
Trapti
Trading & Investments Private Limited |
93063124 |
4.51 |
|
Grasim
Industries Limited |
54542475 |
2.64 |
|
Aditya Birla Nuvo Limited |
33506337 |
1.62 |
|
Pilani
Investment & Ind. Corp. Limited |
29185398 |
1.41 |
|
Umang
Commercial Company Limited |
27330360 |
1.32 |
|
Birla
Institute Of Technology And Science |
2158090 |
1.05 |
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Trustee Holding Shares Under The Scheme Of Merger Of Hil/Igcl/Igfl On Behalf Of Hindalco |
16316130 |
0.79 |
|
Birla
Group Holdings Private Limited |
6731467 |
0.33 |
|
Kumar Mangalam Birla |
865740 |
0.04 |
|
Manav
Investment & Trading Co. Limited |
672571 |
0.03 |
|
Aditya Vikram Kumar Mangalam Birla Huf |
648632 |
0.03 |
|
Rajashree Birla |
612470 |
0.03 |
|
Tgs
Investment And Trade Private Limited |
4485249 |
0.22 |
|
Vasavadatta Bajaj |
121319 |
0.01 |
|
Neerja Birla |
114640 |
0.01 |
|
Kumar Mangalam Birla F & N G Of Ananyashree
Birla |
35895 |
0.00 |
|
Global Holdings Private Limited |
6336 |
0.00 |
|
Total |
763797188 |
36.99 |
(*) The term encumbrance has the same meaning as assigned to
it in regulation 28(3) of the SAST Regulations, 2011.
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
|
Name of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
Life Insurance Corporation Of India & Its Associate
Funds |
201666815 |
9.77 |
|
Bajaj Allianz Life Insurance Company Ltd |
32281643 |
1.56 |
|
Skagen Kon-Tiki Verdipapirfond |
27731830 |
1.34 |
|
Merrill Lynch Capital Markets Espana
S.A |
22898089 |
1.11 |
|
Total |
284578377 |
13.78 |
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
|
Name of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
Life Insurance Corporation Of India & Its Associate
Funds |
201666815 |
9.77 |
|
Total |
201666815 |
9.77 |
Details of Locked-in Shares
|
Name of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
Igh
Holdings Private Limited |
12,10,00,000 |
5.86 |
|
Turquoise Investments And Finance Private Limited |
2,50,00,000 |
1.21 |
|
Umang
Commercial Company Limited |
1,00,000 |
0.00 |
|
Tgs
Investment And Trade Private Limited |
39,00,000 |
0.19 |
|
Total |
15,00,00,000 |
7.26 |
|
Igh
Holdings Private Limited |
12,10,00,000 |
5.86 |
Details of Depository Receipts (DRs)
|
Name of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
GDR |
16,17,82,264 |
16,17,82,264 |
|
Total |
16,17,82,264 |
16,17,82,264 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of
Aluminum and Copper. |
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Products : |
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Brand Names : |
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Agencies Held : |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by management |
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Bankers : |
· UCO Bank, Mumbai, Maharashtra, India · State Bank of India, Mumbai, Maharashtra, India · Allahabad Bank, Mumbai, Maharashtra, India · American Express Bank Limited, Mumbai, Maharashtra, India · Bank of America, Mumbai, Maharashtra, India · Citibank N. A., Mumbai, Maharashtra, India · ABN Amro Bank N.V., Mumbai, Maharashtra, India · Union Bank of India, Mumbai, Maharashtra, India · IDBI Bank Limited, Mumbai, Maharashtra, India · Hongkong and Shanghai Banking Corporation Limited · Standard Chartered Grindlays Bank, Plc, 19, N. S. Road, Kolkata, West Bengal, India |
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Facilities : |
Note: Long Term Borrowings * Current maturities of long-term borrowings are disclosed under the head “Other Current Liabilities”. Debentures comprise
of following:
All the above Debentures are secured by all the movable, both present and future (except moveable assets of Mahan Aluminium Project, Aditya Aluminium Project, Kalwa plant and Current Assets), and certain immovable properties of the Company. Term Loans of Rs.72275.400 Millions from Banks and Rs.1491.800 Millions from Other Parties for Aditya Aluminium Project and Term Loan of Rs.70463.700 Millions from Banks and Rs.906.300 Millions from Other Parties for Mahan Aluminium Project have been prepaid by the Company on 17th September, 2013 and 3rd January, 2014, respectively. Term Loans from Banks of Rs.73650.000 Millions to be secured by a first ranking charge/mortgage/security interest in respect of all the movable assets of Mahan Aluminium Project (except Current Assets) and all the immovable properties of Mahan Aluminium Project, both present and future. However, security creation is pending for want of no due certifi ate from previous term loan lenders. Total loan of Rs.75000.000 Millions carry interest at the State Bank of India’s base rate plus 0.50% and are repayable in 40 quarterly instalments commencing from 31st March, 2014 and ending on 31st December, 2023. The repayment in each financial year in percentage is 1.8, 7.95, 9.2, 9.2, 10.2, 10.2, 10.2, 10.2, 11.1, 11.4 and 8.55 of the loan amount. Term Loans from Banks of Rs.88500.000 Millions to be secured by a first ranking charge/mortgage/security interest in favour of the State Bank of India, in respect of all the movable and immovable properties of Aditya Aluminium Project, both present and future. However, security on 2,579.89 acres of Project land is pending due to non-availability of approval from the appropriate authority. Above loans carry interest at the State Bank of India’s base rate plus 1.25% till project COD and 0.25% thereafter, and are repayable in 34 quarterly instalments commencing from 1st June, 2015 and ending on 1st September, 2023. The repayment in each financial year in percentage is 2.32, 4.20, 6.20, 8.60, 9, 11.50, 16, 26 and 16.18 of the loan amount. The Company will have an option to prepay all or any portion of these loans, without payment of Prepayment Penalty within 30 (Thirty) days after any annual Interest Reset Date. Term Loans from Other Parties include Foreign Currency Term Loans from Export Development Canada (EDC) of USD 90.70 million (Previous year USD 100.00 million) are secured by a first charge on all movable assets of the Mahan Aluminium Project and a second charge on the current assets of the Company, both present and future. Total loan of USD 100 million carry interest at the LIBOR plus 3.50% and are repayable in 43 quarterly instalments commencing from 30th June, 2013 and ending on 31st December, 2023. The repayment in each financial year in percentage is 9.30, 9.30, 9.30, 9.30, 9.30, 9.30. 9.30. 9.30, 9.30, 9.30 and 7 of the loan amount. Subject to the prevailing RBI ECB Regulations, the Company may prepay all or any part of these loans at any time. Short-term
borrowings Working Capital Loan for Aluminium
Business, granted under the Consortium Lending Arrangement, are secured by a
first pari passu charge
on entire stocks of raw materials, work-in-process, finished goods,
consumable stores and spares and also book debts pertaining to the Company’s Aluminium business. Working Capital Loan of State Bank of
India for the Copper business is secured by a first pari
passu charge by way of hypothecation of stocks of
raw materials, work-in-process, finished goods and consumable stores and
spares, and also book debts and other movable assets of Copper business, both
present and future. |
|
|
|
|
Auditors : |
|
|
Name : |
Singhi and Company Chartered Accountants |
|
Address : |
Kolkata, West Bengal, India |
|
|
|
|
Cost Auditors : |
|
|
Name : |
R. Nanabhoy and Company Cost Accountant |
|
Address : |
Mumbai, Maharashtra India |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Subsidiaries: |
·
Hindalco Guniea SARL ·
Minerals & Minerals Limited ·
Aditya Birla Chemicals (India) Limited ·
Utkal Alumina International Limited ·
Utkal Alumina Technical and General Services
Limited ·
Suvas Holdings Limited ·
Renukeshwar Investments
& Finance Limited ·
Renuka Investments
& Finance Limited ·
Dahej Harbour and
Infrastructure Limited ·
Lucknow Finance Company
Limited ·
Hindalco-Almex Aerospace
Limited ·
Hindalco do Brasil Indústriae Comércio de Alumina Ltda., (w.e.f. 1st August, 2013) ·
Tubed Coal Mines Limited ·
East Coast Bauxite Mining Company Private Limited ·
Mauda Energy Limited ·
Birla Resources Pty. Limited ·
Aditya Birla Minerals Limited ·
Birla Maroochydore
Pty. Limited ·
Birla Nifty Pty. Limited ·
Birla Mt. Gordon Pty. Limited ·
A V Minerals (Netherlands) N.V. ·
A V Metals Inc. ·
Novelis Inc. ·
Novelis (India) Infotech Limited ·
Novelis No. 1 Limited
Partnership ·
4260848 Canada Inc. ·
4260856 Canada Inc. ·
8018227 Canada Inc. ·
8018243 Canada Limited ·
Novelis Cast House
Technology Limited ·
Novelis Corporation
(Texas) ·
Aluminum Upstream Holdings LLC (Delaware) ·
Eurofoil Inc. (USA) (New
York) ·
Logan Aluminium Inc.
(Delaware) ·
Novelis Acquisitions
LLC (Delaware) ·
Novelis Brand LLC
(Delaware) ·
Novelis PAE Corporation ·
Novelis North America
Holdings Inc. ·
Novelis South America
Holdings LLC ·
Novelis Delaware LLC
(Delaware) ·
ALBRASILIS - Aluminio
do Brasil Industria e Comércio Ltda. ·
Novelis do Brasil Ltda. ·
Novelis Laminés France SAS ·
Novelis PAE SAS ·
Novelis Aluminium Beteiligungs GmbH ·
Novelis Deutschland
GmbH ·
Novelis Sheet Ingot
GmbH ·
Novelis Aluminium Holding Company ·
Novelis Italia SpA ·
Al Dotcom Sdn Berhad ·
Alcom Nikkei Specialty Coatings Sdn Berhad ·
Aluminum Company of Malaysia Berhad ·
Novelis de Mexico S.A.
de C.V. ·
Novelis Madeira, Unipessoal, Limited ·
Novelis Korea Limited ·
Novelis AG ·
Novelis Switzerland SA ·
Novelis UK Limited ·
Novelis Europe Holdings
Limited ·
Novelis Services
Limited ·
Novelis (Shanghai)
Aluminum Trading Company Limited ·
Novelis (China)
Aluminum Products Company Limited ·
Novelis MEA Limited
(Dubai) ·
Novelis Vietnam Company
Limited ·
Novelis Asia Holdings
(Singapore) Pte. Limited, w.e.f.
5th December, 2013 |
|
|
|
|
Associates: |
·
Aditya Birla Science and Technology Company Limited Idea
Cellular Limited ·
Aluminum Norf GmbH ·
Consorcio Candonga ·
Deutsche Alumnum Verpackung Recycling GmbH ·
France Aluminum Recyclage
SA |
|
|
|
|
Joint Ventures: |
·
Mahan Coal Limited ·
Hydromine Global Minerals
(GmbH) Limited ·
MNH Shakti Limited |
|
|
|
|
Trust of the Company: |
·
Trident Trust |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2100000000 |
Equity Shares |
Re.1/- each |
Rs.2100.000 Millions |
|
25000000 |
Redeemable Cumulative Preference Shares |
Rs.2/- each |
Rs.50.000 Million |
|
|
Total |
|
Rs.2150.000
Millions |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2065141514 |
Equity Shares |
Re. 1/- each |
Rs.2065.100 Millions |
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2065134117 |
Equity Shares |
Re. 1/- each |
Rs.2065.100 Millions |
|
|
Less: Face Value of Equity Shares forfeited |
|
Rs.0.500 Million |
|
|
Add: Forfeited Shares (Amount originally Paid-up) |
|
Rs.0.200 Million |
|
|
Total |
|
Rs.2064.800
Millions |
# Issued Equity Share Capital includes 7397
Equity Shares of Re.1/- each issued on Rights basis kept in abeyance due to
legal case pending.
(a) Reconciliation of shares outstanding at the beginning and at the end
of the reporting period:
|
Equity Shares |
Number
of Shares |
Rs.
In Millions |
|
Shares outstanding at the beginning of the year |
1914583068 |
1914.600 |
|
Shares allotted pursuant to exercise of ESOP |
4800 |
|
|
Equity Shares Allotted pursuant to exercise of Share Warrants |
150000000 |
150.000 |
|
Equity Shares Outstanding at the end of the period |
2064587868 |
2064.600 |
(b) Rights, preferences and restrictions attached to Equity Shares:
The Company has one class of equity shares
having a par value of Re.1/- per share. Each shareholder is eligible for one
vote per share held. The dividend proposed by the Board of Directors is subject
to the approval of the shareholders in the ensuing Annual General Meeting,
except in case of interim dividend. In the event of liquidation, the equity
shareholders are eligible to receive the remaining assets of the Company after
distribution of all preferential amounts, in proportion to their shareholding.
(c) Details of shareholders holding more than 5% equity Shares in the
Company on reporting date:
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
IGH Holdings Private Limited |
349963487 |
16.95 |
|
Turquoise Investment and Finance Limited |
124012468 |
6.01 |
|
Morgan Guaranty Trust Company of New York
(represents GDRs) |
162138001 |
7.85 |
|
Life Insurance Corporation of India and
its Associates |
239089223 |
11.58 |
(d) Shares Reserved
for Issue under Options:
The Company has reserved Equity Shares for issue under the
Employee Stock Options Scheme.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2,064.800 |
1,914.800 |
1,914.800 |
|
(b) Reserves & Surplus |
365,259.700 |
332,396.000 |
312,996.800 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
5,413.100 |
5,413.100 |
|
Total
Shareholders’ Funds (1) + (2) |
367,324.500 |
339,723.900 |
320,324.700 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
221,085.800 |
204,430.500 |
111,151.300 |
|
(b) Deferred tax liabilities (Net) |
11,743.100 |
11,911.400 |
12,245.600 |
|
(c) Other long term liabilities |
8,308.600 |
9,742.800 |
9,531.000 |
|
(d) long-term provisions |
3,419.600 |
3,009.400 |
2,873.200 |
|
Total Non-current Liabilities (3) |
244,557.100 |
229,094.100 |
135,801.100 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
42,583.700 |
37,017.200 |
34,567.800 |
|
(b) Trade payables |
43,837.500 |
30,440.500 |
46,597.700 |
|
(c) Other current
liabilities |
29,019.100 |
19,240.900 |
9,986.100 |
|
(d) Short-term provisions |
10,377.600 |
10,669.000 |
9,198.800 |
|
Total Current Liabilities (4) |
125,817.900 |
97,367.600 |
100,350.400 |
|
|
|
|
|
|
TOTAL |
737,699.500 |
666,185.600 |
556,476.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
180,249.800 |
70,710.000 |
71,259.500 |
|
(ii) Intangible Assets |
297.300 |
266.500 |
242.500 |
|
(iii) Capital
work-in-progress |
172,771.300 |
236,051.100 |
162,567.000 |
|
(iv)
Intangible assets under development |
1.000 |
0.100 |
2.400 |
|
(b) Non-current Investments |
153,124.500 |
140,501.700 |
135,037.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
11,611.500 |
16,810.800 |
22,495.300 |
|
(e) Other Non-current assets |
125.200 |
345.100 |
78.100 |
|
Total Non-Current Assets |
518,180.600 |
464,685.300 |
391,681.800 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
65,950.100 |
64,319.600 |
45,834.000 |
|
(b) Inventories |
89,145.800 |
77,026.100 |
77,428.600 |
|
(c) Trade receivables |
12,836.500 |
15,150.400 |
14,274.500 |
|
(d) Cash and cash
equivalents |
11,631.700 |
14,978.200 |
7,223.000 |
|
(e) Short-term loans and
advances |
32,264.000 |
22,617.300 |
16,476.500 |
|
(f) Other current assets |
7,690.800 |
7,408.700 |
3,557.800 |
|
Total Current Assets |
219,518.900 |
201,500.300 |
164,794.400 |
|
|
|
|
|
|
TOTAL |
737,699.500 |
666,185.600 |
556,476.200 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
278,509.300 |
260,569.300 |
265,967.800 |
|
|
|
Other Income |
11,244.200 |
9,830.900 |
6,157.900 |
|
|
|
TOTAL (A) |
289,753.500 |
270,400.200 |
272,125.700 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
0.300 |
3.800 |
2,059.800 |
|
|
|
Cost of Materials Consumed |
188,042.800 |
171,365.100 |
178,430.800 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(6,762.100) |
1,279.400 |
(4,073.100) |
|
|
|
Employees benefits expense |
13,461.000 |
12,008.000 |
11,133.500 |
|
|
|
Impairment Loss/(Reversal)
(Net) |
0.000 |
172.500 |
0.000 |
|
|
|
Power and Fuel |
35,576.100 |
30,730.400 |
28,706.700 |
|
|
|
Other expenses |
23,272.400 |
23,145.400 |
18,662.500 |
|
|
|
Exceptional Items |
3,959.800 |
0.000 |
0.000 |
|
|
|
TOTAL
(B) |
257,550.300 |
238,704.600 |
234,920.200 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
32,203.200 |
31,695.600 |
37,205.500 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7,116.500 |
4,359.800 |
2,936.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
25,086.700 |
27,335.800 |
34,269.200 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8,232.900 |
6,869.500 |
6,899.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
16,853.800 |
20,466.300 |
27,369.500 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2,720.500 |
3,474.300 |
4,997.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
14,133.300 |
16,992.000 |
22,372.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
7,500.000 |
4,000.000 |
3,500.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Debenture Redemption Reserve |
1,500.000 |
1,500.000 |
0.000 |
|
|
|
General Reserve |
10,559.700 |
8,994.800 |
18,520.300 |
|
|
|
Proposed Dividend |
2,064.600 |
2,680.500 |
2,967.600 |
|
|
|
Corporate Dividend Tax |
9.000 |
316.700 |
384.100 |
|
|
BALANCE CARRIED
TO THE B/S |
7,500.000 |
7,500.000 |
4,000.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
82,919.500 |
75,715.500 |
78,566.000 |
|
|
|
Commission Earnings |
2,043.500 |
7.500 |
0.400 |
|
|
TOTAL EARNINGS |
84,963.000 |
75,723.000 |
78,566.400 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
57,574.700 |
160,752.500 |
150,812.900 |
|
|
|
Coal and Fuel |
1,730.300 |
4,011.900 |
2,590.300 |
|
|
|
Stores and Spares |
985.900 |
724.300 |
896.200 |
|
|
|
Capital Goods |
3,517.800 |
17,738.300 |
13,002.500 |
|
|
|
Trading Goods |
0.000 |
0.000 |
2,047.000 |
|
|
TOTAL IMPORTS |
63,808.700 |
183,227.000 |
169,348.900 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
7.09 |
8.88 |
11.69 |
|
|
|
Diluted
|
7.09 |
8.87 |
11.68 |
|
QUARTERLY RESULTS
|
Particulars |
|
30.06.2014 (Unaudited) |
30.09.2014 (Unaudited) |
|
|
|
1st
Quarter |
2nd
Quarter |
|
Net Sales |
|
79961.400 |
85543.100 |
|
Total Expenditure |
|
72477.300 |
76573.100 |
|
PBIDT (Excl OI) |
|
7484.100 |
8970.000 |
|
Other Income |
|
2163.000 |
2233.500 |
|
Operating Profit |
|
9647.100 |
11203.500 |
|
Interest |
|
3375.600 |
3857.200 |
|
Exceptional Items |
|
0.000 |
(4312.200) |
|
PBDT |
|
6271.500 |
3034.100 |
|
Depreciation |
|
1870.600 |
1960.400 |
|
Profit Before Tax |
|
4400.900 |
1073.700 |
|
Tax |
|
1125.900 |
286.000 |
|
Provisions and contingencies |
|
0.000 |
0.000 |
|
Profit After Tax |
|
3275.000 |
787.700 |
|
Extraordinary Items |
|
0.000 |
0.000 |
|
Prior Period Expenses |
|
0.000 |
0.000 |
|
Other Adjustments |
|
0.000 |
0.000 |
|
Net Profit |
|
3275.000 |
787.700 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
5.07 |
6.52 |
8.41 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
11.56 |
12.16 |
13.99 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.09 |
7.07 |
10.57 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.06 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.72 |
0.71 |
0.45 |
|
|
|
|
|
|
|
Current Ratio |
|
|
|
|