MIRA INFORM REPORT
|
Report No. : |
310381 |
|
Report Date : |
28.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
ANIL LIMITED (w.e.f. 23.09.2010) |
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|
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Formerly Known
As : |
ANIL PRODUCTS LIMITED |
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Registered
Office : |
Anil Starch’s Premises, P. O. Box No.10009, Anil Road, Ahmedabad – 380
025, Gujarat |
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|
Country : |
India |
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|
Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
23.07.1993 |
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Com. Reg. No.: |
04 - 019895 |
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Capital
Investment / Paid-up Capital : |
Rs.485.661 Million |
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|
|
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CIN No.: [Company Identification
No.] |
L15490GJ1993PLC019895 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction & Collection
Account No.] |
AHMA00074E |
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PAN No.: [Permanent Account No.] |
AABCA3154H |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of manufacturing and marketing starches, starch derivatives and specialty starch products that cater to various industries, including Textile, Paper, Food & Beverages, Adhesive, Pharmaceuticals, Chemicals and Animal Feed Industry. |
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|
|
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No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 8400000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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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
adequate liquidity position and sound 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 = A- |
|
Rating Explanation |
Adequate Degree of safety and Low credit Risk |
|
Date |
31.01.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A2 |
|
Rating Explanation |
Strong Degree of safety and Low
credit Risk |
|
Date |
31.01.2014 |
RBI DEFAULTER’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTER’ 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. 91-79-40281059)
LOCATIONS
|
Registered Office/Factory : |
Anil Starch’s Premises, |
|
Tel. No.: |
91-79-26424387 / 26424390 / 22204755 / 22203222 / 22201747 / 40282000 |
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Fax No.: |
91-79-22200731 / 22200735 / 40282001 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Corporate Office : |
Anil Corporate House, Opposite WIAA, Besides DLA School, Off. Judges Bungalow Road, Bodakdev, Ahmedabad - 380015, Gujarat, India |
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E-Mail : |
DIRECTORS
As on. 31.03.2014
|
Name : |
Mr. Amol S Sheth |
|
Designation : |
Chairman and Managing Director |
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|
|
|
Name : |
Mr. Kamal R Sheth |
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Designation : |
Independent Director |
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Name : |
Mr. Anish K Shah |
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Designation : |
Independent Director |
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Name : |
Mrs. Indira J Parikh |
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Designation : |
Independent Director |
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Name : |
Mr. Anurag Kothawala |
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Designation : |
Group Director |
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Name : |
Shri Shashin Desai |
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Designation : |
Executive Director |
KEY EXECUTIVES
|
Name : |
Mr. Chandresh Pandya |
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Designation : |
Company Secretary |
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|
|
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Name : |
Shri Shashin Desai |
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Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on. 31.12.2014
|
Names of Shareholders |
No. of Shares |
% of total No.
of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
318258837 |
69.00 |
|
|
318258837 |
69.00 |
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|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
318258837 |
69.00 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
Mutual Funds / UTI |
21553290 |
4.67 |
|
Financial Institutions / Banks |
6717149 |
1.46 |
|
Insurance Companies |
32473335 |
7.04 |
|
Foreign Institutional Investors |
51694821 |
11.21 |
|
Sub Total |
112438595 |
24.38 |
|
(2) Non-Institutions |
|
|
|
Bodies Corporate |
5718188 |
1.24 |
|
Individuals |
|
|
|
Individual shareholders holding nominal share capital up to Rs.0.100
million |
22442464 |
4.87 |
|
Individual shareholders holding nominal share capital in excess of
Rs.0.100 million |
1215853 |
0.26 |
|
|
1184900 |
0.26 |
|
Trusts |
274117 |
0.06 |
|
Clearing Members |
317880 |
0.07 |
|
Non Resident Indians |
592903 |
0.13 |
|
|
30561405 |
6.63 |
|
Total Public shareholding (B) |
143000000 |
31.00 |
|
Total (A)+(B) |
461258837 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
461258837 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing and marketing starches, starch derivatives and specialty starch products that cater to various industries, including Textile, Paper, Food and Beverages, Adhesive, Pharmaceuticals, Chemicals and Animal Feed Industry. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
250 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
(A) Term Loan from
Bank of India & State Bank of India & J & K Bank Limited (a) Secured by first charge on Pari Passu basis on entire fixed assets of the company. (b) Secured by first charge by way of Hypothecation on specific Plant and Machinery of the company for Bank of India. (c) Secured by way of first charge on equitable mortgage of fixed assets of the company comprising of Land, Building and Fixed Machinery situated at Anil Premises, Anil Road, Bapunagar, Ahmedabad (B) Repayment
Schedule Bank of India ECB 5.000 Million & RTL 250.000 Million: 3 Installments commencing from Dec-2015 Rs.100.000 Million . ECB 10.000 Million : 3 Installments commencing from Dec-2015 Rs.100.000 Million .Dec -2016 Rs. 200.000 Million and Dec -2017 Rs. 200.000 Million to make average maturity over 5 years as per RBI Guidelines Term Loan Rs.300.000 Million: Repayable in 16 Quarterly Installments each of Rs. 1875.000 Million commencing after moratorium period of 24 month from the date of disbursement L&T Finance Non
Convertible Debentures Secured by way of Pari Passu 1st Charge by way of Mortgage on Fixed Assets (Including Immovable and movable Properties Redemption at par in the ratio of 10:20:30:40 redeemable at the end of 2nd, 3rd, 4th and 5th year respectively from the deemed date of allotment State Bank of India Corporate Loan: Repayable in 18 Quarterly Installments, Commencing from December 2014 and Ending on March 2019. First two Quarterly installments of Rs 25.000 Million each & then 4 Quarterly installments each of Rs. 35.000 Million then 4 Quarterly installments each of Rs 40.000 Million then 4 Quarterly installments each of Rs 45.000 Million and Last 4 Quarterly installments each of Rs 55.000 Million J & K Bank Corporate Loan : Repayable in 5 Quarterly Installments each of Rs. 50.000 Million Commencing from June 2014 and Ending with June 2015 Working Capital
facilities from Bank of India, IDBI & Punjab National Bank. Secured by first charge on Pari Passu basis on Raw Material, Stock in process, Finished Goods, Stores & Spares, Packing Material and book debts and also secured by way second charge on equitable mortgage of Fixed Assets of the company comprising of Land, Building and Fixed Machinery situated at Anil Road, Bapunagar, Ahmedabad. |
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Auditors : |
|
|
Name : |
Parikh and Majmudar Chartered Accountant |
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Address: |
303, GCP Business Center, Opposite Memnagar Fire Station, Near Vijay Cross Road, Navrangpura, Ahmedabad – 380009, Gujarat, India |
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Pan No.: |
AAAFB8921B |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates Company : |
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Subsidiaries Company : |
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CAPITAL STRUCTURE
As on. 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs. 10 each |
Rs.250.000 Million |
|
7000000 |
Preference Shares |
Rs.100 each |
Rs.700.000 Million |
|
5000000 |
Unclassified |
Rs. 10 each |
Rs.50.000 Million |
|
Total |
|
|
Rs.1000.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9766166 |
Equity Shares |
Rs. 10 per
Share |
Rs.97.662
Million |
|
3880000 |
Preference Shares |
Rs. 100 per
Share |
Rs.388.000
Million |
|
Total |
|
|
Rs.485.662 Million |
Details of shares
held by each shareholder holding more than 5% shares:
|
Class of shares / Name of shareholder |
As at 31st March 2014 |
|
|
Number of shares held |
% holding in that class of shares |
|
|
Adella Enterprise Private Limited |
6,654,496 |
68.14 |
|
|
|
|
|
8% Redeemable
preference shares |
|
|
|
Anil Mines and Minerals Limited |
1625000 |
41.88 |
|
Anil Nutrients Limited |
400000 |
10.31 |
|
Adella Enterprise Private Limited |
1855000 |
47.81 |
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 |
485.662 |
485.662 |
97.662 |
|
(b) Reserves & Surplus |
2470.111 |
2045.537 |
1211.527 |
|
(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) |
2955.773 |
2531.199 |
1309.189 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1775.823 |
1236.895 |
1321.872 |
|
(b) Deferred tax liabilities (Net) |
289.194 |
237.864 |
194.458 |
|
(c) Other long term
liabilities |
19.890 |
18.398 |
31.484 |
|
(d) long-term
provisions |
0.000 |
0.000 |
2.724 |
|
Total Non-current
Liabilities (3) |
2084.907 |
1493.157 |
1550.538 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
3000.282 |
2622.879 |
1108.647 |
|
(b) Trade
payables |
1073.243 |
782.450 |
502.845 |
|
(c) Other
current liabilities |
418.829 |
432.222 |
370.966 |
|
(d) Short-term
provisions |
115.933 |
184.524 |
108.630 |
|
Total Current
Liabilities (4) |
4608.287 |
4022.075 |
2091.088 |
|
|
|
|
|
|
TOTAL |
9648.967 |
8046.431 |
4950.815 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
2350.661 |
2025.467 |
1742.963 |
|
(ii)
Intangible Assets |
23.101 |
24.809 |
29.200 |
|
(iii)
Capital work-in-progress |
275.116 |
406.776 |
232.637 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
351.889 |
227.546 |
6.717 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
731.676 |
442.857 |
56.377 |
|
(e) Other
Non-current assets |
50.720 |
48.055 |
4.551 |
|
Total Non-Current
Assets |
3783.163 |
3175.510 |
2072.445 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.523 |
0.519 |
0.500 |
|
(b)
Inventories |
2284.309 |
1900.690 |
1051.394 |
|
(c) Trade
receivables |
3132.397 |
2400.089 |
1451.919 |
|
(d) Cash
and cash equivalents |
138.575 |
256.757 |
119.026 |
|
(e)
Short-term loans and advances |
0.000 |
312.866 |
255.531 |
|
(f) Other
current assets |
310.000 |
0.000 |
0.000 |
|
Total
Current Assets |
5865.804 |
4870.921 |
2878.370 |
|
|
|
|
|
|
TOTAL |
9648.967 |
8046.431 |
4950.815 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8249.146 |
7067.165 |
6022.405 |
|
|
|
Other Income |
20.804 |
21.139 |
17.170 |
|
|
|
TOTAL |
8269.950 |
7088.304 |
6039.575 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
5658.859 |
4803.319 |
3907.129 |
|
|
|
Manufacturing Expenses |
767.702 |
696.504 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(70.011) |
(110.679) |
(126.010) |
|
|
|
Prior Period Expenses |
0.976 |
(0.074) |
2.182 |
|
|
|
Employees benefits expense |
239.337 |
228.784 |
206.027 |
|
|
|
Other expenses |
239.017 |
243.651 |
919.035 |
|
|
|
TOTAL |
5658.859 |
4803.319 |
3907.129 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1434.070 |
1226.799 |
1131.212 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
601.219 |
518.977 |
399.474 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
832.851 |
707.822 |
731.738 |
|
|
|
|
0.000 |
|
0.000 |
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
126.975 |
109.639 |
97.015 |
|
|
|
|
|
|
|
|
|
|
EXTRAORDINERY
ITEM |
(1.423) |
(4.287) |
(0.409) |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
707.299 |
602.470 |
634.314 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
223.948 |
146.236 |
163.144 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
483.351 |
456.234 |
471.170 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1508.104 |
1157.807 |
774.106 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
50.000 |
50.000 |
50.000 |
|
|
|
Dividend |
19.532 |
19.532 |
19.531 |
|
|
|
Proposed Dividend on Redeemable Preference Share |
31.040 |
28.596 |
12.707 |
|
|
|
Tax on Dividend |
8.204 |
7.808 |
5.230 |
|
|
BALANCE CARRIED
TO THE B/S |
1882.679 |
1508.105 |
1157.808 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
891.207 |
849.459 |
718.144 |
|
|
TOTAL EARNINGS |
891.207 |
849.459 |
718.144 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.000 |
12.771 |
48.236 |
|
|
|
Capital Goods |
55.854 |
0.000 |
0.065 |
|
|
|
Store and Spare |
0.082 |
1.679 |
2.113 |
|
|
TOTAL IMPORTS |
55.936 |
14.45 |
50.414 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
45.80 |
43.31 |
46.73 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
5.86 |
6.46 |
7.82 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/ Sales) |
(%) |
17.38 |
17.36 |
18.78 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.84 |
8.13 |
13.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24 |
0.24 |
0.48 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.62 |
1.52 |
1.86 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27 |
1.21 |
1.38 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
97.662 |
485.662 |
485.662 |
|
Reserves & Surplus |
1211.527 |
2045.537 |
2470.111 |
|
Net
worth |
1309.189 |
2531.199 |
2955.773 |
|
|
|
|
|
|
long-term borrowings |
1321.872 |
1236.895 |
1775.823 |
|
Short term borrowings |
1108.647 |
2622.879 |
3000.282 |
|
Total
borrowings |
2430.519 |
3859.774 |
4776.105 |
|
Debt/Equity
ratio |
1.857 |
1.525 |
1.616 |
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 |
6022.405 |
7067.165 |
8249.146 |
|
|
|
17.348 |
16.725 |
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 |
6022.405 |
7067.165 |
8249.146 |
|
Profit |
471.170 |
456.234 |
483.351 |
|
|
7.82% |
6.46% |
5.86% |
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 |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
No |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
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 |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
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 |
UNSECURED LOAN
(Rs.
In Million)
|
Particular |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
Long Term
Borrowing |
|
|
|
Loans From Related Parties |
4.478 |
8.128 |
|
Total |
4.478 |
8.128 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10508320 |
14/07/2014 |
750,000,000.00 |
IFCI LIMITED |
IFCI Tower,61 Nehru place, New Delhi, Delhi - 110019, INDIA |
C10774180 |
|
2 |
10493076 |
21/04/2014 |
300,000,000.00 |
DBS Bank Ltd |
2nd Floor, Shree Ambica Auto, GIDC Bhatpore, Surat, Gujarat - 394510, INDIA |
C03600418 |
|
3 |
10478748 |
24/01/2014 |
480,000,000.00 |
PUNJAB NATIONAL BANK |
NEELKAMAL BUILDING OPP.SALES INDIA, ASHRAM ROAD, |
B96839733 |
|
4 |
10459508 |
28/10/2013 |
277,500,000.00 |
BANK OF INDIA |
AHMEDABAD LARGE CORPORATE BRANCH, 2ND FLOOR, BOI |
B89256143 |
|
5 |
10424389 |
11/04/2013 |
920,000,000.00 |
STATE BANK OF INDIA |
MID CORPORATE GROUP, COMMERCIAL BRANCH,, PARAMSID |
B74663576 |
|
6 |
10401004 |
19/01/2013 |
242,000,000.00 |
BANK OF INDIA |
AHMEDABAD LARGE CORPORATE BRANCH, 2ND FLOOR, BOI |
B67244392 |
|
7 |
10386309 |
30/10/2012 |
50,000,000.00 |
BANK OF INDIA |
AHMEDABAD LARGE CORPORATE BRANCH, 2ND FLOOR, BOI |
B62035233 |
|
8 |
10371714 |
23/08/2012 |
250,000,000.00 |
The Jammu and Kashmir Bank Limited |
1, PARISEEMA COMPLEX, C.G. ROAD, AHMEDABAD, Gujarat - 380006, INDIA |
B56097363 |
|
9 |
10371718 |
23/08/2012 |
250,000,000.00 |
The Jammu and Kashmir Bank Limited |
1, PARISEEMA COMPLEX,, C. G. ROAD, AHMEDABAD, Gujarat - 380006, INDIA |
B56097728 |
|
10 |
10148619 |
03/03/2009 |
140,000,000.00 |
IDBI Bank Limited |
IDBI Complex, Opp. Muni. Staff Quarters, Nr. Lal |
A59210229 |
|
11 |
10106788 |
18/05/2008 |
50,000,000.00 |
BANK OF INDIA |
AHMEDABAD CORPORATE BANKING BRANCH, 2ND FLOOR, BANK OF INDIA BLDG, BHADRA, AHMEDABAD, Gujarat - 380001, INDIA |
A40166183 |
|
12 |
10003805 |
29/04/2014 * |
2,480,000,000.00 |
PNB INVESTMENT SER LTD SEC TRST BOI CONST BOI PNB |
PNB INVESTMENT SER LTD SEC TRST BOI CONST BOI PNB, |
C03342854 |
|
13 |
10003804 |
29/04/2014 * |
3,550,000,000.00 |
PUNJAB NATIONAL BANK CIRCLE OFFICE 6TH FLOOR |
PUNJAB NATIONAL BANK CIRCLE OFFICE 6TH FLOOR, GUJARAT
BHAVAN OPP M J LIBRARY ELLISBRIDGE, AHMEDABAD |
C03342599 |
|
14 |
10004245 |
29/04/2014 * |
6,030,000,000.00 |
PUNJAB NATIONAL BANK CIRCLE OFFICE 6TH FLOOR |
PUNJAB NATIONAL BANK CIRCLE OFFICE 6TH FLOOR, GUJ |
C03344728 |
|
15 |
80019160 |
19/02/2004 |
60,000,000.00 |
LORDKRISHNABANKLIMITED |
PANCHRATNA BUILDING, PANCHWATI C G ROAD, AHMEDABA |
- |
|
16 |
90099787 |
19/02/2004 |
60,000,000.00 |
LORD KRISHNA BANK LTD. |
PANCHRATNA BUILDING, PANCHWATI ; C. G. ROAD, AHME |
- |
|
17 |
80019154 |
10/03/2006 * |
67,500,000.00 |
LORDKRISHNABANKLTD |
PANCH RATNA BUILDING, PANCHWATI, C G ROAD, AHMEDABAD, Gujarat - 380009, INDIA |
- |
|
18 |
80019159 |
11/11/2003 |
50,000,000.00 |
LORDKRISHNABANKLIMITED |
PANCHRATNA BUILDING, PANCHWATI C G ROAD, AHMEDABAD, Gujarat - 380006, INDIA |
- |
* Date of charge modification
FIXED ASSETS
·
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Dead Stock and Furniture
·
Vehicles
·
Business Solution Software
·
Computer Software
OVERVIEW:
India’s GDP grew by 4.7% in F.Y. 13-14 in comparison to 5% in 2012-13. Economic growth has slowed due to domestic structural and external factors. CAD, which represents the difference between inflows and outflows of foreign currency, reached 1.7% of GDP in 2013-14 as against 4.7% in 2012-13 due to remarkable turnaround by external sector after the first Quarter of 2013-14.
Maize is the third most important cereal crop in India after rice and wheat. It accounts for 9% of total food grain production in the country. Maize production in India has grown at a CAGR of 5.5 % over the last 10 years. Production of maize in India has increased in 2013-14 to 23 Mn MT from 22 Mn MT in 2012-13.
As per a research conducted by CRISIL, a normal monsoon year is expected, which will increase growth and help in controlling inflation. The GDP forecast for the next fiscal is expected to reach at 6% and the pick-up will be aided by implementation of stalled projects, partial unclogging of domestic policy logjam, improved global growth prospects and a recovery in industrial sector on higher external demand.
BUSINESS OVERVIEW:
The Company is engaged in the business of manufacturing and marketing starches, starch derivatives and specialty starch products that cater to various industries, including Textile, Paper, Food & Beverages, Adhesive, Pharmaceuticals, Chemicals and Animal Feed Industry. Anil Limited has a large range of modified starches and starch derivatives that has a number of applications for more than 30 end user industries. Anil Ltd has aggressively expanded its geographical markets. Your company is exporting to more than 30 countries.
Research & Development (R&D) at Anil Limited focusses on new products and application development, keeping
Abreast with latest developments worldwide, process reengineering to optimize product cost and providing customized solutions to customers. To cater to various applications, Anil Limited has reconfigured its R&D canter
With application labs. ANIL has a team of well qualified scientists and industry specific specialists that gives total
Solutions to the customers in various industries. The R&D also works closely with some of the leading scientific
Institutions of India.
ANIL has achieved a significant growth rate of 16.72% in revenue by attaining turnover of Rs. 8249.146 Million in Financial Year 2013-14 in comparison to Rs. 7067.165 Million in financial year 2012-13. ANIL has achieved a growth of 4.91% in Exports through continuous efforts in developing new markets and new products and recorded exports of Rs. 891.207 Million in 2013-14 in comparison to Rs.849.459 Million in 2012-13. Profit after Tax (PAT) of the Company increased to Rs.483.350 Million in 2013-14 from Rs.456.233 Million in 2012- 13. The Earning per share (EPS) reached to Rs. 4.580 for the year 2013-14 from Rs. 4.331 in 2012-13.The total Shareholders funds increased to Rs. 2955.773 Million as at March 31, 2014 from Rs.2531.199 Million as at March 31, 2013.
OPERATIONS AND REVIEW
(Company’s
Performance)
For the Financial Year 2013-14, the Company has registered strong working results by concentrated efforts of both management and employees. During the year under review total income of the Company has increased to Rs. 8249.146 Million from Rs. 7067.165 Million in the previous year at a growth rate of 16.72%. Our Export revenue aggregated to Rs.891.207 Million up by 4.91% from Rs. 849.459 Million in the previous year. The profit before Depreciation, Interest and Taxes (PBDIT) amounted to Rs. 1434.069 Million as against Rs.1226.800 Million in the previous year.
MANAGEMENT DISCUSSION
AND ANALYSIS (MDA):
The Management Discussion and Analysis Report as required under clause 49 of the Listing Agreement with the
Stock Exchange has been attached and forms part of this Directors’ Report As Annexure.
Contingent
Liabilities:
|
Contingent
Liabilities |
|
31.03.2014 |
|
Claims against the Company not acknowledged as Debts |
|
22.88 |
|
Disputed Sales Tax Demands – matter under appeal |
|
49.84 |
|
Disputed Excise Demand – matter under appeal |
|
5058.94 |
|
Disputed Income Tax Liability – matter under appeal |
|
1246.68 |
|
Outstanding Balance of Guarantees of ` Nil (P.Y. ` 2000 Lacs) given by the Company for loan taken by others from banks |
|
0.000 |
|
Guarantee limits of ` 157 Million(Previous year ` 157.00 lacs) |
|
157.00 |
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.61.79 |
|
|
1 |
Rs.95.42 |
|
Euro |
1 |
Rs.69.28 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
RBI |
YES/NO |
No |
|
EPF |
YES/NO |
No |
|
TOTAL |
|
54 |
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.