MIRA INFORM REPORT
|
Report No. : |
309740 |
|
Report Date : |
26.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
BIRLA CORPORATION LIMITED |
|
|
|
|
Registered
Office : |
9 / 1, R N Mukherjee Road, Birla Building, Kolkata – 700001, West
Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
25.08.1919 |
|
|
|
|
Com. Reg. No.: |
21-003334 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.770.053 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L01132WB1919PLC003334 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALB06945B |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Public limited liability company. Company’s shares are listed on the
Stock Exchange. |
|
|
|
|
Line of Business
: |
Manufacture and Sale of
Jute Goods, Acetylene Gas, Auto Trim Parts, Calcium Carbide, Cement, Iron and
Steel Castings, P.V.C. Goods, Precut
Jute Felt and Synthetic, Viscose and Cotton Yarn. |
|
|
|
|
No. of Employees
: |
10100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (68) |
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
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|
|
|
Comments : |
Subject is a well-established company having fine track record. The rating reflects company’s healthy financial risk profile marked by
strong liquidity position and decent profitability margins of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 |
CARE |
|
Rating |
Long term bank facilities = AA+ |
|
Rating Explanation |
High degree of safety and low credit risk |
|
Date |
September 30, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term facilities = A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk |
|
Date |
September 30, 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 PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Sneha Boghani |
|
Designation : |
Finance Department |
|
Contact No.: |
91-33-66033300 |
LOCATIONS
|
Registered Office : |
9 / 1, R N Mukherjee Road, Birla Building, Kolkata – 700001, West
Bengal, India |
|
Tel. No.: |
91-33-66166726 / 6737 / 6738 |
|
Fax No.: |
91-33-22482872 / 7988 |
|
E-Mail : |
|
|
Web Site : |
|
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|
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|
Corporate Office : |
1, Shakespeare Sarani (2nd Floor), Kolkata – 700 071,India |
|
Tel. No.: |
91-33-6603 3300, 3301, 3002 |
|
Fax No.: |
91-33-2288 4426 |
|
E-Mail : |
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|
|
|
Principal Office : |
Ø UCO Bank
Building, 4th floor, Parliament Street, New Delhi - 110 001 Tel. No.: 91-11- 2371 6214/ 6221/ 4014/
4851-55/ 1476/ 5174 Fax No.: 91-11-2371 1611 Email ID: bcldelhi@vsnl.net Ø Industry House,
150, Churchgate Reclamation, Mumbai - 400 020 Tel. No.: 91-22-2204 8467/ 8468/ 5346/ 91-22-2204 3615 Fax No.: 91-22-2204 3615 E- Mail : bclbom@birlacorp.com |
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|
|
|
Plants : |
Ø P.O. Birla
Vikas, Santa – 485 005, Madhya Pradesh, India Tel. No.: 91-7672 41 2000, 25 7844-47, 25
8002-03, 40 8083 Gram :
Cement Fax No.: 91-7672 257456/ 257576 Email ID: admin@satnacement.com Ø Madhavnagar,
P.O. Cement Factory, Chanderia, Chittorgarh – 312 021, Rajsthan, India Tel. No.: 91-1472 25 6601-08 91-22-2204 3615 Gram :
Cement Fax No.: 91-1472 25 6609 Email ID: bclccw@sancharnet.in Ø Durgapur – 713
203 Burdwan, West Bangal, India Tel. No.: 91-343 645 4051, 25 7844-47, 25
8002-03, 40 8083 Gram :
Cement Fax No.: 91-343 258 5290 Email ID: bcldcw@sancharnet.in Ø Plot No. D/9 to
D/15, UPSIDC Industrial Area, Phase II, Amawan Road, P.O. Raebareli – 229 001, Uttar Pradesh, India Tel. No.: 91-535 211 7114-7116, 221 7118 Fax No.: 91-535 221 7239 Email ID: admin@rblcement.com Ø Birlapur – 743
318, 24 Parganas(S), West Bengal, India Tel. No.: 91-33 2420 9121-233 Gram :
Jutweavar Fax No.: 91-33 2420 9828/ 9688/ 8179/ 9006 Email ID: bjm_birlapur@hotmail.com Ø 102, Narkeldanga
Main Road, Kolkata – 700 054, India Tel. No.: 91-33 2320 9241/ 9242 |
DIRECTORS
As on 21.08.2014
|
Name : |
Mr. Harsh V. Lodha |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Pracheta Majumdar |
|
Designation : |
Wholetime Director |
|
|
|
|
Name : |
Mr. Vikram Swarup |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Anand Bordia |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. B.B Tandon |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. D.N. Ghose |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Deepak Nayyar |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. B.R. Nahar |
|
Designation : |
Managing Director |
KEY EXECUTIVES
|
Name : |
Mr. Girish Sharma |
|
Designation : |
Company Secretary |
|
|
|
|
|
|
|
SENIOR MANAGEMENT TEAM : |
|
|
Name : |
Mr. G. Jayaram |
|
Designation : |
Executive President |
|
|
|
|
Name : |
Mr. P.S. Marwah |
|
Designation : |
President Santa Cement Works Reabareli Cement Works Vidhyachal Steel Foundary |
|
|
|
|
Name : |
Mr. V.K. Hamirwasia |
|
Designation : |
President Birla Cement works Chanderia Cement Works |
|
|
|
|
Name : |
Mr. P.C. Mathur |
|
Designation : |
President Durgapur Cement Works Durga Hitech Cement |
|
|
|
|
Name : |
Mr. K.K. Sharma |
|
Designation : |
President CSR |
|
|
|
|
Name : |
Shri N. Nagori |
|
Designation : |
Sr. Joint President Birla Cement Works Chanderia Cement Works |
|
|
|
|
Name : |
Mr. T.C. Jain |
|
Designation : |
Sr. Joint President Santa Cement Works Reabareli Cement Works Durgapur Cement Works Durga Hitech Cement |
SHAREHOLDING PATTERN
As on 31.12.2014
|
Category of Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of
Shares |
|
(A) Shareholding of
Promoter and Promoter Group |
||
|
|
|
|
|
|
1260 |
0.00 |
|
|
37379183 |
48.54 |
|
|
11053748 |
14.35 |
|
|
11053748 |
14.35 |
|
|
48434191 |
62.90 |
|
|
|
|
|
Total shareholding
of Promoter and Promoter Group (A) |
48434191 |
62.90 |
|
(B) Public
Shareholding |
||
|
|
|
|
|
|
9135115 |
11.86 |
|
|
23873 |
0.03 |
|
|
3948667 |
5.13 |
|
|
1070334 |
1.39 |
|
|
14177989 |
18.41 |
|
|
|
|
|
|
7837274 |
10.18 |
|
|
|
|
|
|
2675816 |
3.47 |
|
|
1416046 |
1.84 |
|
|
2464031 |
3.20 |
|
|
153183 |
0.20 |
|
|
651676 |
0.85 |
|
|
1659172 |
2.15 |
|
|
14393167 |
18.69 |
|
Total Public
shareholding (B) |
28571156 |
37.10 |
|
Total (A)+(B) |
77005347 |
100.00 |
|
(C) Shares held by Custodians
and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
77005347 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture and Sale of
Jute Goods, Acetylene Gas, Auto Trim Parts, Calcium Carbide, Cement, Iron and
Steel Castings, P.V.C. Goods, Precut Jute
Felt and Synthetic, Viscose and Cotton Yarn. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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|
Selling : |
Cash and Credit |
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|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
10100 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
H.P. Khandelwal and Company Chartered Accountant |
|
Address : |
Kolkata – 700001, West Bengal, India |
|
|
|
|
Sister Concerns
: |
|
|
|
|
|
Subsidiaries : |
|
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90000000 |
Ordinary Shares |
Rs.10/-each |
Rs.900.000 Million |
|
|
|
|
|
|
1000000 |
Preference Shares |
Rs.100/-each |
Rs.100.000 Million |
|
|
Total |
|
Rs.1000.000
Million |
Issued, Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
77013416 |
Ordinary Shares |
Rs.10/-each |
Rs.770.134
Million |
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
77005347 |
Ordinary Shares |
Rs.10/-each |
Rs.770.053 million |
|
Add: |
Forfeited Ordinary Shares
(amount originally paid-up) |
|
Rs.0.036 million |
|
|
Total |
|
Rs.770.089 million |
Note:
- There has been
no change/movements in the number of shares outstanding at the beginning
and at the end of the reporting period.
- The company
has only one class of issued shares i.e. Ordinary shares having par value
of Rs. 10/- per share. Each holder of Ordinary shares is entitled to one
vote per share and equal right for dividend. The dividend proposed by the
Board of Directors is subject to the approval of shareholders in the
ensuring Annual General Meeting. Expect in case of interim dividend. In
the event of liquidation, the ordinary shareholders are eligible to
receive the remaining assets of the company after payment of all
preferential amounts, in proportion to their shareholding.
- The company
does not have any Holding Company/Ultimate Holding Company.
- Details of
shareholders holding more than 5% shares in the company:
|
Ordinary Shares
of Rs. 10 each fully paid |
As on 31.03.2014 No.of shares |
As on 31.03.2013 No.of shares |
|
Hindustan Medical Institution |
71,59,460 |
71,59,460 |
|
Vindhya Telelinks Limited |
63,80,243 |
63,80,243 |
|
August Agents Limited |
60,15,912 |
60,15,912 |
|
Insilco Agents Limited |
60,04,080 |
60,04,080 |
|
Laneseda Agents Limited |
59,94,680 |
59,94,680 |
|
The Panjab Produce and Trading company Private Limited |
45,20,572 |
45,20,572 |
|
Life Insurance Corporation of India |
39,48,117 |
39,48,117 |
- No Ordinary
shares have been reserved for issue under options and
contracts/commitments for the sale of shares/disinvestment as at the
Balance sheet date.
- No share have
been allotted or has been bought back by the company during the period of
5 years preceding the date as at which balance sheet is prepared.
- No securities
convertible into Equity/Preference shares issued by the company during the
year.
- No calls are
unpaid by any Director or Officer of the Company during the year.
FINANCIAL DATA
[All figures are
in Rupees Million]
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 |
770.089 |
770.089 |
770.089 |
|
(b) Reserves &
Surplus |
24490.676 |
23730.508 |
21663.708 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
25260.765 |
24500.597 |
22433.797 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
9163.090 |
8973.846 |
7522.382 |
|
(b) Deferred tax
liabilities (Net) |
2342.138 |
2116.924 |
1532.487 |
|
(c) Other long term
liabilities |
2766.807 |
2504.841 |
2216.321 |
|
(d) long-term provisions |
271.446 |
362.236 |
338.575 |
|
Total Non-current
Liabilities (3) |
14543.481 |
13957.847 |
11609.765 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1631.049 |
2778.896 |
3720.952 |
|
(b) Trade payables |
1547.423 |
1267.058 |
1012.184 |
|
(c) Other current
liabilities |
5001.929 |
2162.305 |
1515.800 |
|
(d) Short-term provisions |
686.597 |
588.216 |
420.212 |
|
Total Current Liabilities
(4) |
8866.998 |
6796.475 |
6669.148 |
|
|
|
|
|
|
TOTAL |
48671.244 |
45254.919 |
40712.710 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
18612.162 |
17282.331 |
13482.304 |
|
(ii) Intangible Assets |
36.334 |
45.933 |
0.000 |
|
(iii) Capital work-in-progress |
1416.677 |
2285.731 |
5096.239 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
43.022 |
|
(b) Non-current
Investments |
3520.255 |
8979.314 |
4599.443 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1914.117 |
1350.393 |
851.570 |
|
(e) Other Non-current
assets |
300.650 |
294.200 |
288.019 |
|
Total Non-Current Assets |
25800.195 |
30237.902 |
24360.597 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
9819.736 |
3727.998 |
5848.657 |
|
(b) Inventories |
5151.071 |
5701.406 |
4158.129 |
|
(c) Trade receivables |
747.114 |
749.629 |
372.452 |
|
(d) Cash and cash
equivalents |
5010.827 |
2786.302 |
4264.126 |
|
(e) Short-term loans and
advances |
810.641 |
969.544 |
784.895 |
|
(f) Other current assets |
1331.660 |
1082.138 |
923.854 |
|
Total Current Assets |
22871.049 |
15017.017 |
16352.113 |
|
|
|
|
|
|
TOTAL |
48671.244 |
45254.919 |
40712.710 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
30163.521 |
26029.593 |
22868.986 |
|
|
Other Income |
1249.085 |
1271.164 |
1261.576 |
|
|
TOTAL |
31412.606 |
27300.757 |
24130.562 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
4932.727 |
5263.421 |
3632.495 |
|
|
Purchases of
Stock-in-Trade |
14.008 |
48.708 |
11.775 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
391.575 |
(1319.064) |
405.652 |
|
|
Employees benefits
expense |
2215.756 |
1930.747 |
2139.606 |
|
|
Other expenses |
20044.634 |
16177.398 |
13155.457 |
|
|
TOTAL |
27598.700 |
22101.210 |
19344.985 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
3813.906 |
5199.547 |
4785.577 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
855.944 |
648.574 |
525.076 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
2957.962 |
4550.973 |
4260.501 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1325.827 |
1043.917 |
800.029 |
|
|
|
|
|
|
|
Less |
EXCEPTIONAL ITEMS |
109.319 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
1522.816 |
3507.056 |
3460.472 |
|
|
|
|
|
|
|
Less |
TAX |
225.214 |
808.897 |
1068.419 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
1297.602 |
2698.159 |
2392.053 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
1499.100 |
1095.100 |
1905.000 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Debenture Redemption
Reserve |
165.000 |
165.000 |
165.000 |
|
|
Interim Dividend |
0.000 |
192.500 |
192.500 |
|
|
Corporate Div. Tax on
Interim Dividend |
0.000 |
31.200 |
31.200 |
|
|
Proposed Final Dividend |
462.100 |
346.600 |
269.500 |
|
|
Corporate Div. Tax on
proposed Final Div. |
78.500 |
58.900 |
43.700 |
|
|
General Reserve |
130.000 |
1500.000 |
2500.000 |
|
|
Total |
835.600 |
2294.200 |
3201.900 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
1961.102 |
1499.059 |
1095.153 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
711.879 |
453.208 |
695.303 |
|
|
Sale of Certified
Emission Reductions |
0.000 |
0.000 |
73.978 |
|
|
TOTAL EARNINGS |
711.879 |
453.208 |
769.281 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
201.713 |
161.855 |
341.984 |
|
|
Spare Parts |
42.065 |
24.153 |
64.458 |
|
|
Capital Goods |
103.902 |
172.795 |
682.219 |
|
|
TOTAL IMPORTS |
347.680 |
358.803 |
1088.661 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
16.85 |
35.04 |
31.06 |
QUARTERLY RESULTS
|
Particulars (Rs.
In Million) |
Jun 2014 |
Sep 2014 |
Dec 2014 |
|
Audited /
Unaudited |
Unaudited |
Unaudited |
Unaudited |
|
Net Sales |
8748.200 |
7811.100 |
7568.100 |
|
Total Expenditure |
7310.300 |
7091.000 |
7171.000 |
|
PBIDT (Excl OI) |
1437.900 |
720.100 |
397.100 |
|
Other Income |
421.200 |
291.900 |
260.100 |
|
Operating Profit |
1859.100 |
1012.000 |
657.200 |
|
Interest |
192.100 |
196.100 |
209.000 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
1667.000 |
815.900 |
448.200 |
|
Depreciation |
391.300 |
391.400 |
372.100 |
|
Profit Before Tax |
1275.700 |
424.500 |
76.100 |
|
Tax |
280.500 |
99.900 |
-73.900 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
995.200 |
324.600 |
150.000 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
995.200 |
324.600 |
150.000 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
4.13 |
9.88 |
9.91 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
12.64
|
19.97 |
20.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.48 |
10.32 |
11.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.14 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debts/Networth) |
|
0.43 |
0.48 |
0.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.58 |
2.21 |
2.45 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
770.089 |
770.089 |
770.089 |
|
Reserves & Surplus |
21663.708 |
23730.508 |
24490.676 |
|
Net worth |
22433.797 |
24500.597 |
25260.765 |
|
|
|
|
|
|
long-term borrowings |
7522.382 |
8973.846 |
9163.090 |
|
Short term borrowings |
3720.952 |
2778.896 |
1631.049 |
|
Total borrowings |
11243.334 |
11752.742 |
10794.139 |
|
Debt/Equity ratio |
0.501 |
0.480 |
0.427 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
22868.986 |
26029.593 |
30163.521 |
|
|
|
13.820 |
15.882 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
22868.986 |
26029.593 |
30163.521 |
|
Profit |
2392.053 |
2698.159 |
1297.602 |
|
|
10.46% |
10.37% |
4.30% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
No |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
---------------------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if
applicable) |
Yes |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if
available |
Yes |
LITIGATION DETAILS:
CULCUTTA HIGH
COURT
|
CASE STATUS
: Pending |
|||
|
|
|||
|
Status of COMPANY
PETITIONS (CP) 512 of 2014
|
|||
|
|
|||
|
IN THE MATTER OF:
TALAVADI CEMENTS LIMITED –A Vs. IN THE MATTER OF: BIRLA CORPORATION
LIMITED |
|||
|
|
|||
|
Pet's Adv.
: FOX
AND MANDAL |
|||
|
|
|||
|
Res's Adv.
: --- |
|||
|
|
|||
|
|||
|
|
|||
|
Category : NO CATEGORY MENTIONED |
|||
|
|||
|
Case Updated on:
Friday, November 28, 2014 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10543572 |
01/01/2015 |
50,000,000.00 |
PUNJAB NATIONAL BANK |
18A, BRABOURNE ROAD, KOLKATA, West Bengal - 700001 , INDIA |
C40703092 |
|
2 |
10493337 |
02/09/2014 * |
4,203,780,000.00 |
Axis Trustee Services Limited |
Axis House, 2nd
Flr, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli,, Mumbai,
Maharas |
C19203413 |
|
3 |
10434174 |
02/09/2014 * |
825,000,000.00 |
DBS Bank Limited |
(Security Trustee of DBS Bank Ltd., Singapore), 4 A, NANDALAL BASU SARANI, KOLKATA, West Bengal - 700071, INDIA |
C22251326 |
|
4 |
10351742 |
06/12/2012 * |
1,287,500,000.00 |
DBS BANK LIMITED |
(SECURITY TRUSTEE OF DBS BANK LTD. SINGAPORE), KOLKATA BRANCH, 4A, NANDALAL BASU SARANI, KOLKATA, West Bengal - 700071, INDIA |
B65265852 |
|
5 |
10274079 |
06/12/2012 * |
920,000,000.00 |
DEUTSCHE BANK AKTIENGESELLSCHAFT |
TAUNUSANLAGE 12, FRANKFURT, - 60325, GERMANY |
B65279192 |
|
6 |
10259595 |
06/12/2012 * |
1,300,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17, R.Kamani Marg,, Ballard Estate,, MUMBAI, Maharashtra - 400001, INDIA |
B65171787 |
|
7 |
10219379 |
06/12/2012 * |
3,700,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17, R.Kamani Marg,, Ballard Estate,, MUMBAI, Maharashtra - 400001, INDIA |
B65263915 |
|
8 |
80016969 |
06/12/2012 * |
4,400,000,000.00 |
UCO BANK (LEAD BANK) |
FLAGSHIP CORPORATE BRANCH, MACLEOD HOUSE, 3 NETAJI SUBHAS ROAD, KOLKATA, West Bengal - 700001, INDIA |
B65173379 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
SHORT TERM BORROWINGS |
|
|
|
From Banks |
|
|
|
Buyers Credit and Packing Credit in Foreign Currency |
134.465 |
315.937 |
|
Deposits |
|
|
|
Staff and Other Deposits |
83.824 |
94.399 |
|
Other Loans and
Advances |
|
|
|
Buyers Credit in Foreign Currency |
265.425 |
576.576 |
|
Total |
483.714 |
986.912 |
FIXED ASSETS
- Land
- Building
- Plant and
Machinery
- Furniture and
Fittings
- Vehicles
- Office
Equipment
- Livestock
- Railway
Sidings
CEMENT DIVISION
Industry Structure and Developments
The Indian cement industry is the second largest market after China
accounting for about 8% of the total global production. The per capita
consumption of cement in India is about 210 kg., which is substantially poor
when compared with the world average of 560 kg.This underlines the tremendous
scope for growth in Indian cement industry in the long term. The Indian cement
industry is currently struggling with both weak demand and over Capacity, which
has kept the operating margins under pressure.
Sales
During the year, even though on all India basis, the cement industry has
shown a growth of about 3%, the Company has registered a growth of 16.69% in
cement sales. In absolute terms, the sale of cement has increased to 73.63 Lacs
tons compared to 63.10 Lacs tons in the previous year.
Outlook
During
the Financial Year 2013-14 the cement demand has been muted with poor off take
from infrastructure segment and slow economic growth. However, after the
completion of the General Elections and assumption of the new Government at the
Centre, the economic activities are expected to give a push to the Indian
economy. Consequential increase in construction activity in the housing and
infrastructure sector is expected to give a fillip to the demand for cement.
JUTE DIVISION
Industry Structure and Developments
Jute Industry occupies an important place in the economy of West Bengal.
It is one of the major industries of Eastern Region. It supports nearly 4
million farm families, besides providing direct employment to about 0.250
Million industrial workers. Jute goods possess excellent property for packaging
of agricultural products. The use of Geo-textiles jute products is increasing
in areas like road construction, mining and soil conservation. Main products
manufactured by the industry are Sacking, Hessian, Carpet Backing Cloth, Yarn,
Food Grade Products.
Performance
Birla Jute Mills at Birlapur achieved highest ever production of jute
goods during the year at 38015 MT as against 15380 MT during the previous year.
The performance of the Mill during 2013-14 is not comparable with the previous
year as the Mill was under `Suspension of Work` for substantial period during
2012-13.
The production during the year could have been higher but for the lower
demand due to the dilution of the Jute Packaging Materials (Compulsory use in
packing commodities) Act, 1987, (JPMA), which has resulted in severe drop in
demand for jute goods. As a result, the jute division of the Company had to
resort to production cuts from November, 2013. To overcome vagaries of
government orders under the jute division is laying emphasis on improving
export of jute goods. Export performance during the year has shown substantial
improvement at 6966 metric tons as against 3012 metric tons in the previous
year.
Outlook
Rainfalls
in the jute growing areas of India and Bangladesh in the current season have
been very scanty and the jute growers were unable to start sowing. The climatic
conditions during the later part of the year will prove to be decisive for raw
jute yield which would consequently impact the performance of the division.
NEW
PROJECTS
Considering factors such as market potential, proximity to fly-ash
sources, availability of tax incentives etc. The setting up of three
grinding/blending units in Madhya Pradesh, one grinding unit in Bihar, one
blending unit in Uttar Pradesh and another blending unit in Jharkhand has been
approved by the Board of Directors during the year. The Company is in the
process of acquiring land and obtaining various government clearances for the
above projects.
FINANCE
The high
financial discipline and prudence and the strong credit rating has enabled the
Company to reduce its cost of working capital borrowings. The Company
continuously undertakes review of liability management so as to reduce cost.
During the
year, the Company has signed an agreement with Foreign Banks to refinance the
existing foreign currency Term Loan of USD 70 million with another foreign
currency Term Loan with same maturity at a lower rate of interest. Out of the
above, the Company has drawn USD 35 million up to 31st March, 2014 and the
balance will be drawn by May, 2014.
Further, the
Company efficiently manages its surplus funds by investing in highly rated debt
securities and debt schemes of mutual funds considering safety, liquidity and
return.
AWARDS &
RECOGNITION
During the
year, the Company has been declared "Winner of Silver Award in the Cement
Sector for Outstanding Achievements in Safety Management" by Greentech
Safety Award 2013.
Further, the
Quality Circle team, "Anusandhan", of the Satna unit, has won the
"Distinction Award" at the International Convention of Quality
Circles at Taiwan. The Satna Unit also received `HR Gold Award` under Best
Strategy Category by Greentech Foundation.
The Chanderia
unit of the Company had received `Bhamashah Award-2013` from the Minister of
Education, Govt. of Rajasthan, for excellent contribution towards education.
The unit has also received the 12th Annual Greentech Safety Award - 2013 from
Greentech Foundation, New Delhi, for outstanding achievement in safety
management.
During the
year, Birla Jute Mills has become the first composite Jute Mill to be certified
under ISO 14001: 2004 and the OHSAS (Occupational Health and Safety Management
System) 18001: 2007.
UNAUDITED FINANCIAL RESULTS FOR THE THREE MONTHS AND SIX MONTHS
ENDED 31ST DECEMBER, 2014
(Rs. In Million)
|
Particulars |
Three Months Ended |
Three Months Ended |
Nine
Months Ended |
|
31.12.2014 |
30.09.2014 |
31.12.2014 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
|
|
|
|
|
|
Income from
Operations |
|
|
|
|
a)
Net Sales / Income from Operations (Net of excise duty) |
7431.800 |
7671.100 |
23696.100 |
|
b)
Other Operating Income |
136.300 |
140.000 |
431.300 |
|
Total
Income from Operations (net) |
7568.100 |
7811.100 |
24127.400 |
|
Expenditure |
|
|
|
|
a)
Cost of materials consumed |
1206.100 |
1203.000 |
3755.400 |
|
b)
Purchase of stock-in-trade |
1.600 |
1.700 |
8.600 |
|
c) Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
94.000 |
(340.600) |
(660.400) |
|
d)
Employee benefits expense |
551.500 |
572.700 |
1682.700 |
|
e)
Depreciation and amortisation expense |
372.100 |
391.400 |
1154.800 |
|
f)
Power and Fuel |
2060.500 |
2246.300 |
6639.100 |
|
g)Transport
and Forwarding Expenses |
|
|
|
|
-
On Finished products |
1372.100 |
1464.200 |
4431.800 |
|
-
On Internal material transfer |
408.600 |
421.800 |
1248.600 |
|
h)Stores,
Spare Parts and Packing Materials |
748.900 |
735.200 |
2251.100 |
|
i)Other
expenses |
727.700 |
786.700 |
2215.400 |
|
Total Expenses |
7543.100 |
7482.400 |
22727.100 |
|
Profit from Operations
before Other Income and Finance Costs |
25.000 |
328.700 |
1400.300 |
|
Other Income |
260.100 |
291.900 |
973.200 |
|
Profit
before finance costs |
285.100 |
620.600 |
2373.500 |
|
Finance Costs |
209.000 |
196.100 |
597.200 |
|
Profit
after Finance Cost but before exceptional items |
76.100 |
424.500 |
1776.300 |
|
Exceptional Items |
--- |
--- |
--- |
|
Profit
Before Tax |
76.100 |
424.500 |
1776.300 |
|
Tax
Expenses (Includes Deferred Tax) |
(73.900) |
99.900 |
306.500 |
|
Net
Profit after Tax |
150.000 |
324.600 |
1469.800 |
|
Paid
up Equity Share Capital [Face Value - Rs.10 per share] |
770.100 |
770.100 |
770.100 |
|
Reserves
excluding revalution reserves as per balance sheet of previous accounting
year |
--- |
--- |
--- |
|
Basic
and diluted EPS for the period and for the previous year |
1.95 |
4.22 |
19.09 |
|
|
|
|
|
|
PARTICULARS OF SHAREHOLDING |
|
|
|
|
Public Shareholding |
|
|
|
|
- Number of Shares |
28571156 |
28571156 |
28571156 |
|
- Percentage of Shareholding |
37.10% |
37.10% |
37.10% |
|
Promoters and
Promoter Group Shareholding |
|
|
|
|
a)
Pledged/Encumbered |
|
|
|
|
- Number of Shares |
Nil |
Nil |
Nil |
|
- Percentage of Shares (as a % of the Total Shareholding of promoter
and promoter group) |
--- |
--- |
--- |
|
- Percentage of Shares (as a % of the Total Share Capital of the
Company) |
--- |
--- |
--- |
|
b) Non
Encumbered |
|
|
|
|
- Number of Shares |
48434191 |
48434191 |
48434191 |
|
- Percentage of Shares (as a % of the Total Shareholding of Promoter
and Promoter Group) |
100.00% |
100.00% |
100.00% |
|
- Percentage of Shares (as a % of the Total Share Capital of the
Company) |
62.90% |
62.90% |
62.90% |
|
PARTICULARS |
Three months ended 31st
December 2014 |
|
B INVESTORS COMPLAINTS |
|
|
Pending at the beginning of the quarter |
1 |
|
Received during the quarter |
NIL |
|
Disposed during the quarter |
1 |
|
Remaining unresolved at the end of the quarter |
NIL |
UNAUDITED SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED
|
Particulars |
Three Months Ended |
Three Months Ended |
Nine Months Ended |
|
31.12.2014 |
30.09.2014 |
31.12.2014 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
|
Segment Revenue |
|
|
|
|
a)
Cement |
6897.200 |
7194.500 |
22290.700 |
|
b)
Jute |
502.100 |
447.700 |
1312.200 |
|
c)
Others |
32.500 |
28.900 |
93.200 |
|
Total |
7431.800 |
7671.100 |
23696.100 |
|
Less
: Inter segment revenue |
--- |
--- |
--- |
|
Net Sales / Income from Operations |
7431.800 |
7671.100 |
23696.100 |
|
|
|
|
|
|
Segment Results (Profit
before Interest and Tax) |
|
|
|
|
a)
Cement |
157.700 |
473.900 |
1797.400 |
|
b)
Jute |
(14.400) |
(24.300) |
(62.200) |
|
c)
Others |
(4.700) |
(5.400) |
(13.100) |
|
Total |
138.600 |
444.200 |
1722.100 |
|
|
|
|
|
|
Less:
i) Interest |
209.000 |
196.100 |
597.200 |
|
ii)
Other unallocable expenditure net of unallocable income |
(146.500) |
(176.400) |
(651.400) |
|
Total Profit Before Taxation |
76.100 |
424.500 |
1776.300 |
|
|
|
|
|
(Segment
Assets - Segment Liabilities) |
|
|
|
|
a)
Cement |
22312.900 |
22270.900 |
22312.900 |
|
b)
Jute |
1323.900 |
1302.600 |
1323.900 |
|
c)
Others |
225.400 |
233.900 |
225.400 |
|
d)
Unallocated Capital Employed |
2617.100 |
2583.700 |
2617.100 |
|
Total Capital Employed in Segments |
26479.300 |
26391.100 |
26479.300 |
Note :
- There were no exceptional / extraordinary items during the quarter
ended 31st December 2014.
- The Hon’ble Supreme Court, vide it’s decision dated 24th
September, 2014, held allocation of various coal blocks as arbitrary and
illegal and hence liable to be cancelled. Subsequently, the Government
promulgated The Coal Mines (Special Provisions) Ordinance, 2014, which
intends to take appropriate action to deal with the situation arising
pursuant to the Hon’ble Supreme Court’s decision. In respect of Bikram
Coal Block in the state of Madhya Pradesh allotted to the Company, the
management has submitted its claim for compensation to the government for
the investment made on the block. Consequential adjustment, if any, will
be made in subsequent quarters on settlement of the claim.
- In
respect of Mining matter of Chanderia before the Hon’ble Supreme Court, a
comprehensive report has been submitted by Central Building Research
Institute (CBRI) on full scale mining. The next date of hearing is fixed
on 17th February, 2015.
- Effective April 01, 2014. The Company has charged depreciation based
on the remaining useful life of the assets as per the requirement of
Schedule II of the Companies Act, 2013. Due to above depreciation charge
for the quarter and Nine Months ended December 31, 2014, is higher by Rs
20.300 Million and Rs. 128.400 Million respectively.
- Figures for previous periods have been regrouped/rearranged,
wherever necessary.
The above results were reviewed by the Audit Committee on 4th February, 2015 and taken on record by the Board of Directors of the Company at its meeting held on 5th February, 2015 The above results have been reviewed by the Statutory Auditors of the Company.
Press Release (Q3:
2014-15)
5 February 2015
BIRLA CORPORATION Q3 NET SALES AT Rs. 7431.800 MILLION
|
|
Q3 2014-15 |
Q2 2014-15 |
Q3 2013-14 |
|
Cement despatch
(Million Tons) |
1.822 |
1.912 |
1.808 |
|
Net Sales/Income
from Operations (Net of Excise Duty) (Rs in Million) |
7431.800 |
7671.100 |
7098.400 |
|
Profit After Tax
(Rs in Million) |
150.000 |
324.600 |
159.900 |
Birla Corporation Limited, the flagship Company of the M P
Birla Group and cement major, despatched 1.822 Million tons of cement against
1.808 Million tons in the corresponding quarter the previous year, registering
a rise of 0.77%. Net Sales/Income from operations for the third quarter of the
current financial year stood at Rs 7431.800 Million (Rs 7098.400 Million). The
Profit after Tax was Rs. 150.000 Million against Rs 159.900 Million in the
previous corresponding quarter.
Shri Harsh V. Lodha, Chairman of the Company, commenting on the results in the third quarter of 2014-15, after its Board meeting in Kolkata today, said the cement industry has witnessed a challenging scenario with subdued realization on one hand and higher input and logistic costs on the other.
During the quarter, the demand for cement, particularly in the northern and central regions, was subdued. This affected the volume of sales. Average realization was also lower compared to the immediately preceding quarter. However, on the year-toyear basis, realization during the quarter was higher.
Consequent to reduction in the availability of linkage coal, the Company had to procure coal from the open market as well as take recourse to imports. This has resulted in substantially higher cost of coal. Further, availability of railway rakes came down significantly, resulting in shortage of coal delivery affecting the generation of captive power as well as the working of the kilns and increasing costs substantially.
Due to restriction on blasting for limestone production, the Chanderia unit continued to procure substantial quantity of limestone during the quarter at a substantially higher cost, resulting in significant erosion of profit. Further, as the full quantity of limestone, required for running the kilns at rated capacity, was not available, production of clinker was lower by more than 1.25 lakh tons during the quarter.
During the quarter, two of the kilns were shut down for maintenance, including bricklining, leading to lower production and higher stores consumption.
The Company continues to take various measures to improve operational efficiency, including higher use of additives and alternative fuel. The power as well as coal consumption has been lower per ton compared to the previous quarter. This has helped in containing erosion in profit.
In respect of the mining matter of Chanderia before the Hon'ble Supreme Court, a comprehensive report has been submitted by Central Building Research Institute (CBRI) on full-scale mining. The next date of hearing is fixed on 17 February 2015.
WOMAN DIRECTOR: The Board of Directors of the Company has been pleased to appoint Mrs Shailaja Chandra, former Chief Secretary of Delhi, as an independent woman director on the Board.
JUTE DIVISION: The jute industry continues to operate in challenging environments. The management continues to focus on increasing exports to mitigate the situation in domestic markets associated with the jute industry.
OUTLOOK: Given the several initiatives being taken by the Government to augment housing and infrastructure, the demand for cement is widely expected to increase in medium and long term.
AWARDS: Satna Cement Works has been conferred the Greentech Gold Award 2014 for Outstanding Achievement in the areas of Environment Management and Corporate Social Responsibility. Birla Cement Works has received the Greentech Silver Award for Outstanding Achievement in Environment Management.
Highlights:
FOR THE QUARTER
ENDING 31 DECEMBER 2014
- Net Sales at Rs.7431.800 Million up by 4.70%*
- EBIDTA at Rs.657.200 Million PAT at Rs.150.000 Million EPS at Rs.1.95
- Cement Despatches at 1.822 Million tons up by 0.77 %*
- Cement Production at 1.805 Million tons up by 2.79%*
- Percentage of Blended Cement as a %age of Total Cement despatches continues to be high at about 83.37%
* as compared to
corresponding quarter of previous year
FIRST NINE MONTHS OF
2014-15
- Net Sales at Rs.23696.100 Million up by 8.08%*
- EBIDTA at Rs.3528.300 Million up by 32.40%*
- PAT at Rs.1469.800 Million up by 41.93%*
- EPS at Rs.19.09 up by 41.93%*
- Cement Despatches at 5.790 Million tons up by 4.72%*
- Cement Production at 5.759 Million tons up by 6.04%*
- Percentage of Blended Cement as a %age of Total Cement despatches continues to be high at about 85.30%
* as compared to corresponding period of previous year
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or anti-terrorism
sanction laws or whose assets were seized, blocked, frozen or ordered forfeited
for violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.04 |
|
|
1 |
Rs.96.02 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Information Gathered
by : |
DIP |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
PNM |
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 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
68 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.