MIRA INFORM REPORT
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Report No. : |
304782 |
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Report Date : |
24.01.2015 |
IDENTIFICATION DETAILS
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Name : |
DCM SHRIRAM LIMITED SHRIRAM ALKALI AND CHEMICALS (DIVISION OF “DCM SHRIRAM LIMITED”) |
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Formerly Known
As : |
DCM SHRIRAM CONSOLIDATED LIMITED FINPRO SOLUTIONS PRIVATE LIMITED |
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Registered
Office : |
5th Floor, |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
06.02.1989 |
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Com. Reg. No.: |
55-034923 |
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Capital
Investment / Paid-up Capital : |
Rs.331.807 Millions |
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CIN No.: [Company Identification
No.] |
L74899DL1989PLC034923 |
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IEC No.: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELD04602D DELD08433F |
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PAN No.: [Permanent Account No.] |
AAACD0097R |
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Legal Form : |
A Public Limited Liability Company. The company’s shares are listed on
stock exchange. |
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Line of Business
: |
The company is
engaged in manufacturing of Fertilisers, Urea, Ammonia, Cement, Caustic Soda,
Chlorine, HCI, PAC, SBP, Hydrochloric Acid, Calcium Carbide, PVC Resin,
Textile Products, Sugar and Energy Management Services. |
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No. of Employees
: |
Information
declined by the management. |
RATING & COMMENTS
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MIRA’s Rating : |
A (63) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Maximum Credit Limit : |
USD 480000000 |
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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 and a reputed company having fine
track record. Financial position of the company seems to be sound. Trade relations are fair. Business is active. Payment terms are
regular and as per commitments. In View of long standing experience of the management, the subject can
be considered normal for business dealings at usual trade terms and
conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
ICRA |
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Rating |
Fixed Deposit Programmer = MA+ |
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Rating Explanation |
Adequate credit quality and caries average credit RISK. |
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Date |
June 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 (91-11-23316801)
LOCATIONS
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Registered Office : |
5th Floor, |
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Tel. No.: |
91-11-23316801 |
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Fax No.: |
91-11-23318072 |
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E-Mail : |
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Website : |
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Corporate Office |
1st Floor, Kanchenjunga Building, 18 Barakhamba Road, New Delhi – 110001, India |
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Tel. No.: |
91-11- 23316801 |
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Fax No.: |
91 -11 -23318072 |
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Factory 1 : |
Shriram Fertilisers and Chemicals Shriram Nagar, |
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Factory 2 : |
Shriram Alkali
and Chemicals 749, G.I.D.C. Industrial Estate, District Bharuch, |
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Tel.: |
91-2645-226031/21/41 |
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Email. |
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Factory 3 : |
DSCL Sugar Village Ajbapur, P.O. Mullapur, Lakhimpur Kheri – 261 505, |
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Factory 4 : |
DSCL Sugar Village Rupapur, P.O. Munder, District Hardoi – 241 123, |
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Factory 5 : |
DSCL Sugar Village and P.O. Hariawan, District Hardoi – 241 405, |
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Factory 6 : |
DSCL Sugar Village Loni, P.O. Anjhi Shahbad, District Hardoi – 241 124, |
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Sales Office : |
Located At : ·
New Delhi ·
Mumbai ·
Kolkata ·
Chennai ·
Indore ·
Hyderabad ·
Jaipur ·
Ludhiana ·
Kota ·
Meerut ·
Sriganganagar
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Market Office : |
·
Kirti Mahal, 19, Rajendra Place, New Delhi - 110
008 Tel. No. 91-11-25713442/25722296 Fax. No. 91-11-25768135 ·
Shivaji Marg, New Delhi - 110 015 Tel. No. 91-11-25104410/25747836 Fax. No. 91-11-25455362/25739816 ·
5th Floor, Kanchenjunga Building, 18, Barakhamba
Road, New Delhi - 110 001 Tel. No. 91-11-23316801-9 Fax. No. 91-11-23318072 |
DIRECTORS
As on: 31.03.2014
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Name : |
Mr. Ajay Shridhar Shriram
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Designation : |
Chairman and Senior Managing Director |
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Address: |
‘SHIVAM’, A 37, Vasant Marg, Vasant Vihar, |
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Date of Birth/Age: |
04.03.1954 |
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Date of Appointment: |
24.07.1989 |
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DIN No.: |
00027137 |
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Name : |
Mr. Vikram Shridhar Shriram |
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Designation : |
Vice Chairman and Managing Director |
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Address: |
5/16, Shanti Niketan, |
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Date of Birth/Age: |
06.12.1958 |
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Date of Appointment: |
22.05.1990 |
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DIN No.: |
00027187 |
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Name : |
Mr. K. K. Kaul |
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Designation : |
Whole Time Director |
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Name : |
Mr. Ajit Shridhar Shriram |
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Designation : |
Deputy Managing Director |
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Address: |
5/20, Shanti Niketan, |
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Date of Birth/Age: |
03.10.1967 |
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Date of Appointment: |
02.05.2001 |
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DIN No.: |
00027918 |
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Name : |
Dr. Narendra Jeet Singh |
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Designation : |
Whole Time Director (EHS) |
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Address: |
A-22, Mahaveer Nagar-II, |
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Date of Birth/Age: |
29.11.1953 |
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Qualification : |
M.Sc., Ph.D. |
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Expertise in
Functional Area : |
Environment, Health, Safety, Quality Systems, Sustainability, Food
Safety and Energy Management |
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Date of Appointment: |
20.11.2007 |
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DIN No.: |
01893202 |
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Name : |
Dr. Satguru Sharan Baijal |
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Designation : |
Director |
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Address: |
B 4 Sector 30, Gautam Budh Nagar, Noida – 210 303 Uttar Pradesh, |
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Date of Birth/Age: |
06.09.1929 |
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Date of Appointment: |
22.05.1990 |
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DIN No.: |
00027961 |
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Name : |
Mr. Arun Bharat Ram |
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Designation : |
Director |
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Address: |
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Date of Birth/Age: |
15.11.1940 |
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Date of Appointment: |
22.05.1990 |
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DIN No.: |
00694766 |
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Name : |
Mr. Pradeep Dinodia |
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Designation : |
Director |
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Address: |
A-9-A, Maharani Bagh, |
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Date of Birth/Age: |
15.11.1940 |
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Date of Appointment: |
22.05.1990 |
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DIN No.: |
00027995 |
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Name : |
Mr. Vimal Bhandari |
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Designation : |
Director |
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Address: |
Flat N0.164, 16th Floor, |
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Date of Birth/Age: |
23.08.1958 |
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Qualification : |
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Expertise in
Functional Area : |
Finance, Human Resources and General Management |
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Date of Appointment: |
13.05.2003 |
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DIN No.: |
00001318 |
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Name : |
Mr. Sunil Kant Munjal |
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Designation : |
Director |
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Address: |
l-A, Friends, Colony (West), |
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Date of Birth/Age: |
14.12.1957 |
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Qualification : |
B.Com, Training in Mechanical Engineering |
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Expertise in
Functional Area : |
Corporate Planning, Finance, Manufacturing, Customer Relationship,
Information Technology and Insurance |
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Date of Appointment: |
13.05.2003 |
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DIN No.: |
00003902 |
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Name : |
Mr. Debdatta Sengupta |
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Designation : |
Director |
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Address: |
Sector-B, Pocket, 8, Flat N0.6145, Vasant Kunj, |
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Date of Birth/Age: |
20.06.1942 |
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Bachelor of Science in Physics, PGDM. |
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Market Development, Risk Analysis and Transfer Techniques, Managing
Human Resources, Insurance and Reinsurance Principles and Practices, Funds
Management and International Business Relations. |
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Date of Appointment: |
11.08.2003 |
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DIN No.: |
00043289 |
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Name : |
Mr. Sharad Shrivastava |
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Designation : |
LIC Nominee |
KEY EXECUTIVES
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Name : |
Mr. B.L. Sachdeva |
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Designation : |
Company Secretary |
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Audit Committee : |
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Name : |
Mr. Chetan Kanasar |
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Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
(A) Shareholding of Promoter
and Promoter Group |
Total No. of Shares |
Total
Shareholding as a % of Total No. of Shares |
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|
5461050 |
3.36 |
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|
98282744 |
60.51 |
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|
103743794 |
63.88 |
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Total shareholding of Promoter
and Promoter Group (A) |
103743794 |
63.88 |
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(B) Public Shareholding |
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|
610104 |
0.38 |
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|
62500 |
0.04 |
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|
29640 |
0.02 |
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|
17043295 |
10.49 |
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|
2130533 |
1.31 |
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|
19876072 |
12.24 |
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|
7702541 |
4.74 |
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13791052 |
8.49 |
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|
1445856 |
0.89 |
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|
15856822 |
9.76 |
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|
233141 |
0.14 |
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|
15105550 |
9.30 |
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|
87001 |
0.05 |
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431130 |
0.27 |
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38796271 |
23.89 |
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Total Public shareholding (B) |
58672343 |
36.12 |
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Total (A)+(B) |
162416137 |
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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|
0 |
0.00 |
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|
0 |
0.00 |
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|
0 |
0.00 |
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Total (A)+(B)+(C) |
162416137 |
0.00 |
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BUSINESS DETAILS
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Line of Business : |
The company is
engaged in manufacturing of Fertilisers, Urea, Ammonia, Cement, Caustic Soda,
Chlorine, HCI, PAC, SBP, Hydrochloric Acid, Calcium Carbide, PVC Resin,
Textile Products, Sugar and Energy Management Services. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information
declined by the management. |
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Bankers : |
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Facilities : |
(Rs. In Millions)
NOTE: SECURED Long term
borrowings from banks:
Long term borrowings from others:
SHORT TERM
BORROWING: SHORT TERM WORKING
CAPITAL BORROWINGS FROM BANKS: Loans from banks on cash credit account of Rs. 988.000 Millions (2012-13 - Rs. 1794.500 Millions) are secured by first pari passu charge on whole of the current assets, both present and future, of the Company (except Shriram Bioseed Genetics, Hyderabad and Bioseed Research India , Hyderabad). These loans are further secured by a third charge by way of mortgage/hypothecation of all the immovable/ movable properties (other than current assets) of the Company’s undertakings located at Kota in Rajasthan and Ajbapur, Rupapur, Loni and Hariawan in Uttar Pradesh. Amount of Rs. Nil (2012-13 - Rs. 16.300 Millions) is secured by exclusive charge by way of hypothecation on current assets and mortgage/hypothecation on the immovable and movable properties, both present and future of the Company’s undertakings at Shriram Bioseed Genetics, Hyderabad. Short Term Loan of Rs.2270.900 Millions (2012-13 - Rs. 3090.200 Millions) are secured by first pari passu charge on whole of the current assets, both present and future, of the Company (except Shriram Bioseed Genetics, Hyderabad and Bioseed Research India, Hyderabad), and a third charge by way of mortgage/hypothecation of all the immovable/movable properties (other than current assets) of the Company’s undertakings at Kota in Rajasthan and Ajbapur, Rupapur, Loni and Hariawan in Uttar Pradesh. |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountant |
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Address : |
7th Floor, Tower B,
Building 10, DLF Cyber City Complex, DLF City Phase II, Gurgaon, Haryana, India |
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Tel. No.: |
91-124-6792000 |
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Fax No.: |
91-124-6792012 |
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Cost Auditors : |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiaries : |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
29,49,50,000 |
Equity Shares |
Rs.2/- each |
Rs.589.900 Millions |
|
65,01,000 |
Cumulative redeemable preference shares |
Rs.100 each |
Rs. 650.100 Millions |
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Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16,98,03,320 |
Equity Shares |
Rs.2/- each |
Rs. 339.600 Millions |
Subscribed and fully paid up
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
163067849 |
Equity Shares |
Rs.2/- each |
Rs. 326.400
Millions |
|
Less:138,562 |
Equity shares |
Rs.2/- each |
Rs.0.300
Millions\ |
|
Add: |
Forfeited shares |
|
Rs. 1.600
Million |
|
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Total |
|
Rs. 327.700 Millions |
Note:
Reconciliation of
Number of shares and amount outstanding at the beginning and at the end of the reporting
period:
|
Subscribed and fully paid up Equity Shares: |
No. of shares |
Value (Rs. Millions) |
|
As at April 1, 2012 |
165,903,320 |
Rs. 331.800 Millions |
|
As at March 31, 2013 |
165,903,320 |
Rs. 331.800 Millions |
|
Less: Equity shares buy back |
2,696,909 |
Rs. 5.400 Millions |
|
As at March 31, 2014 |
163,206,411 |
Rs. 326.400 Millions |
The Company has bought back 28, 35,471 equity shares of Rs 2/- each, out of which 26,96,909 equity shares have been extinguished up to March 31, 2014 and the balance 138,562 equity shares have been extinguished subsequent to March 31, 2014
|
Particular |
No. of shares |
Percentage |
|
(i)Shares held by the
holding company: Sumant Investments Private Limited |
98,282,284 |
60.22% |
|
(ii)The
shareholders holding more than 5% equity shares are as under: |
|
|
|
Sumant Investments Private Limited |
98,282,284 |
60.22% |
|
Life Insurance Corporation of India |
12,863,749 |
7.88% |
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 |
327.700 |
333.400 |
333.400 |
|
(b) Reserves & Surplus |
16407.900 |
13671.200 |
12064.100 |
|
(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) |
16735.600 |
14004.600 |
12397.500 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
5875.400 |
6604.200 |
7878.500 |
|
(b) Deferred tax liabilities (Net) |
1434.200 |
1592.700 |
1554.600 |
|
(c) Other long term
liabilities |
354.600 |
329.800 |
277.300 |
|
(d) long-term
provisions |
1272.200 |
1150.700 |
1086.000 |
|
Total Non-current
Liabilities (3) |
8936.400 |
9677.400 |
10796.400 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
4097.800 |
6938.600 |
8278.900 |
|
(b) Trade
payables |
12696.500 |
10481.300 |
8660.800 |
|
(c) Other
current liabilities |
4729.300 |
4370.400 |
4898.100 |
|
(d) Short-term
provisions |
485.700 |
412.400 |
251.700 |
|
Total Current
Liabilities (4) |
22009.300 |
22202.700 |
22089.500 |
|
|
|
|
|
|
TOTAL |
47681.300 |
45884.700 |
45283.400 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
14103.100 |
14570.100 |
17909.800 |
|
(ii)
Intangible Assets |
39.800 |
45.600 |
99.200 |
|
(iii)
Capital work-in-progress |
213.400 |
158.500 |
270.300 |
|
(iv)
Intangible assets under development |
0.000 |
1.700 |
3.900 |
|
(b) Non-current Investments |
446.800 |
453.700 |
504.400 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2477.300 |
1820.500 |
1730.900 |
|
(e) Other
Non-current assets |
129.600 |
84.800 |
44.500 |
|
Total Non-Current
Assets |
17410.000 |
17134.900 |
20563.000 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
1936.400 |
12.700 |
0.000 |
|
(b)
Inventories |
10975.200 |
13394.200 |
13018.800 |
|
(c) Trade
receivables |
9796.300 |
9105.800 |
6605.400 |
|
(d) Cash
and cash equivalents |
2865.600 |
1199.100 |
2283.100 |
|
(e)
Short-term loans and advances |
2056.900 |
2225.200 |
2517.300 |
|
(f) Other
current assets |
2640.900 |
2812.800 |
295.800 |
|
Total
Current Assets |
30271.300 |
28749.800 |
24720.400 |
|
|
|
|
|
|
TOTAL |
47681.300 |
45884.700 |
45283.400 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
60815.400 |
53999.300 |
49557.000 |
|
|
|
Other Income |
514.700 |
461.200 |
298.900 |
|
|
|
TOTAL (A) |
61330.100 |
54460.500 |
49855.900 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
17860.600 |
19178.700 |
17286.700 |
|
|
|
Purchases of Stock-in-Trade |
18705.400 |
14848.300 |
17272.100 |
|
|
|
Change in inventories
of finished goods, Work-in-progress and Stock-in-Trade |
2859.400 |
(624.400) |
(3278.100) |
|
|
|
Employee benefits expense |
3830.200 |
3630.100 |
3555.400 |
|
|
|
Other expenses |
12201.100 |
11887.400 |
11699.400 |
|
|
|
Exceptional Items |
0.000 |
535.800 |
380.600 |
|
|
|
TOTAL (B) |
55456.700 |
49455.900 |
46916.100 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
5873.400 |
5004.600 |
2939.800 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1458.800 |
1526.500 |
1575.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4414.600 |
3478.100 |
1364.200 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1341.300 |
1438.200 |
1540.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
3073.300 |
2039.900 |
(176.500) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
326.700 |
134.500 |
(33.900) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
2746.600 |
1905.400 |
(142.600) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
5393.500 |
4538.000 |
4759.100 |
|
|
|
|
|
|
|
|
|
Add |
BALANCE BROUGHT FORWAR CONSEQUENT TO MERGER OF ERSTWHILE SHRIRAM
BIOSEED GENETICS INDIA LIMITED |
619.300 |
-- |
-- |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividends on Equity Shares (Incl. Interim dividend) |
327.600 |
265.400 |
66.400 |
|
|
|
Corporate Dividend Tax |
55.700 |
33.200 |
10.800 |
|
|
|
Storage fund for Molasses Account |
1.300 |
1.300 |
1.300 |
|
|
|
General Reserve |
750.000 |
750.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
7624.800 |
5393.500 |
4538.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Direct export of goods on FOB basis/as per contracts where FOB value
not readily ascertainable |
42.100 |
131.400 |
205.400 |
|
|
|
Others |
30.100 |
6.500 |
7.800 |
|
|
TOTAL EARNINGS |
72.200 |
137.900 |
213.200 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
325.700 |
375.900 |
619.400 |
|
|
|
Components & Spare Parts |
110.400 |
125.300 |
173.700 |
|
|
|
Capital Goods |
1264.300 |
871.500 |
940.200 |
|
|
|
Others |
6104.100 |
6005.700 |
3048.000 |
|
|
TOTAL IMPORTS |
7804.500 |
7378.400 |
4781.300 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
- Before
Exceptional Item |
16.56 |
14.55 |
0.99 |
|
|
|
- After
Exceptional Item |
16.56 |
11.49 |
(0.86) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
4.52 |
3.53 |
(0.29) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
9.66 |
9.27 |
5.93 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.54 |
4.51 |
(0.40) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.15 |
(0.01) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.60 |
0.97 |
1.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.38 |
1.29 |
1.12 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
333.400 |
333.400 |
327.700 |
|
Reserves & Surplus |
12064.100 |
13671.200 |
16407.900 |
|
Net worth |
12397.500 |
14004.600 |
16735.600 |
|
|
|
|
|
|
long-term borrowings |
7878.500 |
6604.200 |
5875.400 |
|
Short term borrowings |
8278.900 |
6938.600 |
4097.800 |
|
Total borrowings |
16157.400 |
13542.800 |
9973.200 |
|
Debt/Equity ratio |
1.303 |
0.967 |
0.596 |
%20-%20304782%2024-Jan-2015_files/image022.gif)
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
49557.000 |
53999.300 |
60815.400 |
|
|
|
8.964 |
12.623 |
%20-%20304782%2024-Jan-2015_files/image024.gif)
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
49557.000 |
53999.300 |
60815.400 |
|
Profit |
(142.600) |
1905.400 |
2746.600 |
|
|
(0.29%) |
3.53% |
4.52% |
%20-%20304782%2024-Jan-2015_files/image026.gif)
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 |
(No) |
|
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 |
(Yes) |
|
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 |
(Yes) |
|
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 Millions)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWINGS |
|
|
|
Deposits |
|
|
|
Fixed |
88.800 |
70.600 |
|
Others |
155.700 |
65.200 |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans repayable on demand |
|
|
|
From banks |
805.800 |
2004.000 |
|
From others |
20.000 |
20.000 |
|
Loan from subsidiary company |
13.100 |
13.600 |
|
Total |
1083.400 |
2173.400 |
MANAGEMENT DISCUSSION
AND ANALYSIS
PERFORMANCE REVIEW:
The company continued to deliver robust performance for the year, driven by higher earnings in the Chloro- Vinyl business and Shriram farm Solutions business, operating breakeven in Fenesta business and elimination of losses in the Hariyali business. However the earnings were adversely impacted due to losses in international Bioseed operations (a one-time exercise was carried out to clear the trade channel and the old/ expired inventory), negative margins in Sugar business and losses in cement business. The Company’s policy to conserve cash has led to substantial reduction in debt and has strengthened the financial position.
- Net Revenues were higher by 11.6% at Rs. 61822. 000Millions in FY 14 as compared to Rs. 55389.000 Millions in the previous year. Net Revenues (excluding Hariyali Business) grew by 15%. This increase in revenues during the year was primarily driven by growth in Shriram Farm Solutions (+37%), Fertilizers (+19%) and Sugar (+12%) businesses.
- Shriram Farm Solutions: Revenues for FY 14 were higher by 37% at Rs. 17790.000 Millions. Sales of Value Added Inputs and Bulk fertilisers grew strongly increasing by 38%and 36%, respectively, during the year.
- Fertilizer: The Fertilizer business’ revenue increased by 19% to Rs 6250.000 Millions in FY 14 on account a 5% increase in sales volumes (FY 13 had a scheduled maintenance shutdown) and a 14% increase in realizations driven by higher input costs which are a pass through.
- Sugar: Revenues were higher by 12% at Rs. 15000.000 Millions due to 17% increase in sales volumes. However realizations for the year softened by 7%.
- Profit before interest, exceptional items and tax (PBIT) stood at Rs 4210.000 Millions as compared to Rs. 4270.000 Millions in the previous year
- Chloro-Vinyl: PBIT from the Chloro Vinyl business was up by 9% to Rs. 3740.000 Millions essentially due to PVC resins wherein the realizations were higher by 14% and sales volumes by 11%. The margins remain healthy with sustained measures to contain rising input costs.
- Shriram Farm Solutions: PBIT in this business for FY14 was higher by 59% at Rs. 810.000 Millions on account of strong earnings growth in the Value Added Inputs portfolio. The net earnings from DAP/MOP were under stress due to adverse demand and supply conditions and high working capital including subsidy outstanding.
- Fertilizer: PBIT in FY 14 was higher by 110% at Rs 232.000 Millions on account of higher volumes as well as energy savings led by improved efficiencies. The overall profitability continues to get affected by the high level of subsidy outstanding.
- Bioseed: PBIT in FY14 declined to Rs 42.000Millions in FY 14, down from Rs 516.000 Millions in FY 13. The business earnings were adversely affected due to the one time exercise carried out to clear the trade channel and the old/ expired inventory. The Indian operations on the other hand continued healthy performance with earnings rising by 25% during FY 14.
- Sugar: PBIT stood at -ve Rs 54.000 Millions in FY 14 as compared to +ve Rs 645. 000Millions in the previous year due to swing in margins to –ve Rs 234 per Qtl from +ve Rs 196 per Qtl. Prices have improved post Feb 14, but still are below the level required for profitable operations.
- Cement: PBIT stood at –ve Rs. 3.000 Millions visà- Vis a PBIT of +ve Rs. 173.000 Millions in FY 13. The business suffered from the dual impact of rising input costs amid sluggish demand that weighed down on the profit margins.
- Finance Costs – Finance costs during FY14 were lower by 4% at Rs. 1490.000 Millions due to decline in Debt during the year. Net Debt stood at Rs. 6830.000 Millions as compared to Rs.14360.000 Millions in FY 13.
- Net Profit stood at Rs. 2420.000 Millions as
compared to Rs. 2030.000 Millions in the previous period.
- The Board of Directors has recommended a
dividend of 100% for the year as compared to 80% in the previous year.
INDUSTRY OVERVIEW AND OUTLOOK:
India is the second largest producer and consumer of Urea in the world. Urea is the most preferred fertilizer and constitutes about 72% of entire fertilizer consumption in the country. Urea is the preferred choice of farmers in India on account of its low farm gate price (fixed by government) and high nitrogen content. The demand and consumption of Urea has been growing and the gap in demand/supply is currently being met by imports. During FY 14, total Urea production in India stood at ~ 22.7 Million MT. 7 Million MT of Urea was imported into India during the year to meet the domestic demand.
In FY 15, Government has notified a revised policy for one year with a marginal upwards revision of fixed costs at Rs. 500 per MT. This is expected to partially compensate for the increased costs and reduce the under recoveries in FY15. We hope that the Government will take steps to finalize a long-term policy which will ensure long-term viability of the existing capacity and provide confidence to the industry to take steps to enhance e capacity levels and Help in reducing the country’s dependence on imports.
Our Strategy
The company has been focused on continuously improving its operating efficiencies and reducing energy consumption along with focusing on initiatives which will help in containment of fixed expenses.
Shriram Farm Solutions
Shriram Farm Solutions business provides a complete range of farm inputs which include the Value added inputs such as Seeds (GM, Hybrid and OP), Crop Care Chemicals (Insecticide, Fungicide and Herbicide), Soluble Fertilizers, Micro-Nutrients etc. and Bulk Fertilizers like DAP, MOP and SSP. The Company not only aims to provide wide range of quality inputs, but also strives to provide customized solutions which include providing customized inputs by leveraging local knowledge and creating package of practices which will help farmers in enhancing their levels of productivity and profitability. The business is supported by a strong extension program called the SKVP (Shriram Krishi Vikas Program). This program, apart from being an Agronomy services platform providing latest technology and practices to the farmers and the Channel, also focuses on meeting its social responsibilities. Some of the activities include education programs for girl child, providing Scholarships along with vocational training for women. They believe, that new technologies/practices need to be disseminated to the farmers which will help them in increasing yields/profitability by meeting challenges of Drought, pests etc. The company lays strong emphasison strengthening its customer interface which will help in capturing the evolving trends in Agriculture and leverage technology to enhance performance of the Business, the Channel and the Farmer. The business is also supported by a strong distribution network which is present in 17 states, reaching ~ 0.4 Million farmers and ~ 30,000 retailers. The Company sells these Agri-Inputs under brand “Shriram” which is known for quality and has a strong brand image within the farming community.
Industry Overview and Outlook
The
Year 2013-14 saw a good monsoon with comprehensive coverage. In some areas,
excess and extended rainfall resulted in crop damage in khariff and late rabi.
Value added inputs saw growth indem and but the rising in put cost resulted in
pressure on margins. In the Bulk
Fertilizers (DAP/MOP), the industry started FY 14 with high inventory in the
system. International prices dropped sharply due to lower purchase by major
consuming countries. Abundant supply in domestic market resulted in higher
discount and longer credit in the domestic market. However, due to good monsoon
during the year, inventory in the country at the end of the season has
reduced. They expect that industry will
continue to grow in FY 15 if monsoons are normal, although climate factors such
as El Nino can impact performance. They do believe that this industry will
witness healthy growth in medium long term due to strong demand for food in the
next few years given the macro factors such as population growth, rising per
capital income etc. As per industry estimates, the demand for food will touch ~
330 Mn MT by 2020 and supply is projected to be about 280 Mn MT, resulting in
shortage of ~ 50 Mn MT. With land area under agriculture stagnant at 140 Mn
h.a, the country would need to improve the levels of productivity which would
include adoption of superior products (Agri-Inputs) along with other
initiatives.
.
HUMAN RESOURCES AND INDUSTRIAL/EMPLOYEE
RELATIONS:
DCM
Shriram’s focus on effective management of its Human Resources continues with
full commitment as before. The Company has all through the year stood by its
belief of developing people, taking care of their needs and ensuring that all
the processes and systems enable employees to give their best. The Company
believes that a genuine, authentic and customised rolling out a comprehensive
Talent & Leadership Development program, following through on the employee
engagement survey findings, aggressive positioning of the employer brand for
fresher’s and laterals and quite a few such initiatives across the entire
Organisation. The Company has successfully implemented Balanced Scorecard
covering nearly 280 roles & positions, supported by Accenture Consulting.
The BSC, They strongly believe, will go a long way in strengthening the
Performance Management System along with a sharper focus on results, outcomes
and deliverables. The Talent and leadership development journey has been
embarked upon to develop the existing leaders and groom the high potential
talent of the Organisation to take on higher roles & responsibilities,
along with getting mapped onto various leadership succession tracks. The
initiative has been partnered with Aon Hewitt. The Organisation has continued
to measure the engagement of its employees through a structured survey by the
Corporate Executive Board. It has been very insightful and useful in drawing
out the HR agenda / action plan for the year. Several initiatives have been
taken to strengthen the Employer Brand of DCM Shriram, including ‘Case Study’
Competition at Campus and ‘Alumni Connect’ for the former employees of the
Company.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2014 (Rs. in millions) |
31.03.2013 (Rs. in millions) |
|
Claims*
(excluding claims by employees where amount not ascertainable) not acknowledged
as debts: |
|
|
|
|
|
|
|
Sales tax matters |
13.300 |
13.300 |
|
Excise matters |
21.200 |
21.200 |
|
Additional premium on land |
81.100 |
81.100 |
|
Others |
59.300 |
59.300 |
|
Total |
174.900 |
174.900 |
NOTE: All the
above matters are subject to legal proceedings in the ordinary course of
business. In the opinion of management the legal proceedings, when ultimately
concluded, will not have a material effect on results of operations or
financial position of the Company
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10495242 |
17/09/2014 * |
968,600,000.00 |
PUNJAB NATIONAL
BANK |
LARGE CORPORATE
BRANCH, TOLSTOY HOUSE, TOLSTOY MARG,, NEW DELHI, DELHI - 110001, INDIA |
C24583759 |
|
2 |
10434079 |
17/12/2013 * |
1,200,000,000.00 |
STANDARD
CHARTERED BANK |
(ACTING AS AN SECURITY
AGENT), NARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001,
INDIA |
B95826285 |
|
3 |
10431900 |
10/12/2013 * |
1,160,000,000.00 |
STANDARD
CHARTERED BANK |
(ACTING AS AN SECURITY
AGENT) C D U, NARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW DELHI, DELHI -
110001, |
B95427985 |
|
4 |
10336978 |
30/12/2011 |
8,797,000.00 |
DEPARTMENT OF
BIOTECHNOLOGY |
6-8 TH FLOOR, BLOCK
NO.2,, CGO COMPLEX, LODHI ROAD,, NEW DELHI, DELHI - 110003, INDIA |
B32716854 |
|
5 |
10322865 |
28/07/2014 * |
500,000,000.00 |
ING VYSYA BANK
LIMITED |
23, BARAKHAMBA
ROAD,, NARAIN MANZIL, NEW DELHI, DELHI - 110001, INDIA |
C17340183 |
|
6 |
10253888 |
09/12/2013 * |
107,500,000.00 |
GOVERNMENT OF
INDIA-REPRESENTED BY IFCI |
MINISTRY OF
CONSUMER AFFAIRS, FOOD & PUBLIC DISTR |
B95508263 |
|
7 |
10179961 |
29/09/2009 |
1,400,000,000.00 |
IDBI BANK
LIMITED |
IRCS, 1,, RED
CROSS ROAD,, NEW DELHI, DELHI - 110001, INDIA |
A71232516 |
|
8 |
10157481 |
15/05/2009 |
2,491,800,000.00 |
INTERNATIONAL
FINANCE CORPORATION |
2121
PENNSYLVANIA AVENUE, N.W., WASHINGTON, D.C, NA, - 20433, UNITED STATES OF
AMERICA |
A62340955 |
|
9 |
10158710 |
12/08/2010 * |
5,800,000.00 |
DEPARTMENT OF
BIOTECHNOLOGY |
BLOCK 2,CGO
COMPLEX, LODHI ROAD, NEW DELHI, DELHI - 110003, INDIA |
A93576411 |
|
10 |
10144427 |
09/12/2013 * |
167,480,000.00 |
PRESIDENT OF INDIA
- REPRESENTED BY IFCI LIMITED |
GOVERNMENT OF
INDIA - MINISTRY OF CONSUMER AFFAIRS, FOOD & PUBLIC DISTRIBUTION - KRISHI
BHAWAN, NEW |
B95508586 |
* Date of charge modification
FIXED ASSETS
- Land
- Building
- Leasehold
- Furniture and
Fixture
- Plant and
Equipments
- Vehicles
- Office
Equipment
- Computer
- Know How
UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2014
|
Particulars |
Three months ended |
Year ended |
||
|
30.09.2014 |
30.06.2014 |
30.09.2014 |
||
|
Unaudited |
Unaudited |
Unaudited |
||
|
1 |
Income from Operations |
|
|
|
|
|
(a) Net sates/income from operations (Net of excise duty) |
13748.000 |
16721.100 |
30469.100 |
|
|
(b) Other Operating Income |
37.900 |
44.400 |
82.300 |
|
|
Total income from operations (net) |
13785.900 |
16765.600 |
30551.400 |
|
2 |
Expenses |
|
|
|
|
|
(a) Cost of materials consumed |
1589.800 |
2871.400 |
4461.200 |
|
|
(b) Purchases of stock-in trade |
3451.000 |
6043.800 |
9494.800 |
|
|
(c) Changes in inventories of finished goods. work-in-progress and stock in trade |
3942.700 |
553.900 |
4496.600 |
|
|
(d) Employee benefits expense |
1104.900 |
992.700 |
2097.600 |
|
|
(e) Depreciation and Anmortisation Expenses |
268.300 |
282.200 |
550.500 |
|
|
(f)Power |
1663.900 |
1667.100 |
3331.000 |
|
|
(g) Other Expenses |
1221.500 |
2102.000 |
3323.500 |
|
|
(g) cost of own manufacturing goods |
(0.100) |
(0.100) |
(0.200) |
|
|
Total expenses |
13242.000 |
14513.000 |
27755.000 |
|
3 |
Profit/ (Loss) from operations before
other Income, finance costs and exceptional Items (1-2) |
543.900 |
2252.500 |
2796.400 |
|
4 |
Other Income |
125.00 |
157.900 |
282.900 |
|
5 |
Profit/ (Loss) from operations before other
income, finance costs and exceptional items (3+4) |
668.900 |
2410.400 |
3079.300 |
|
6 |
Finance Costs |
295.200 |
277.700 |
572.900 |
|
7 |
Profit/ (Loss) from ordinary activities
before tax (7+8) |
373.700 |
2132.700 |
2506.400 |
|
8 |
Tax expenses |
(108.500) |
346.200 |
237.700 |
|
9 |
Net Profit / (Loss) for the period (11-12) |
482.200 |
1786.500 |
2268.700 |
|
10 |
Cash Profit |
585.200 |
2037.500 |
2622.700 |
|
11 |
Paid up equity share capital (Face Value of Rs2/- each) Reserve excluding Revaluation Reserve |
326.400 |
326.400 |
326.400 |
|
|
(a) Basic |
2.97 |
11.00 |
13.96 |
|
|
|
|
|
|
|
A |
PARTICULARS OF SHAREHOLDING |
|
|
|
|
1 |
Public Shareholding |
|
|
|
|
|
- Number of shares |
58672343 |
58672343 |
58672343 |
|
|
- Percentage of shareholding |
36.12 |
36.12 |
36.12 |
|
2 |
Promoters and Promoter group shareholding |
|
|
|
|
|
a) Pledged / Encumbered |
0.000 |
0.000 |
0.000 |
|
|
- Number of shares |
|
|
|
|
|
- Percentage of shares (as a % of the total shareholding of Promoter & Promoter group) |
|
|
|
|
|
- Percentage of shares (as a % of the total Share Capital of the Company) |
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
|
- Number of shares |
103743794 |
103743794 |
103743794 |
|
|
- Percentage of shares (as a % of the total shareholding of Promoter & Promoter group) |
100.00 |
100.00 |
100.00 |
|
|
- Percentage of shares (as a % of the total Share Capital of the Company) |
63.88 |
63.88 |
63.88 |
|
|
|
|
|
|
|
B |
INVESTOR COMPLAINTS |
|
|
|
|
|
Pending at the beginning of the quarter |
00 |
|
|
|
|
Received during the quarter |
26 |
|
|
|
|
Disposed off during the quarter |
26 |
|
|
|
|
Remaining unresolved at the end of the quarter |
00 |
|
|
STANDALON STATEMENT OF ASSETS AND LIABILITIES
|
Particulars |
As at 30.09.2014 |
|
|
|
Particulars |
|
|
A |
EQUITY AND
LIABILITIES |
|
|
1 |
Shareholder’s Funds |
|
|
|
a) Share Capital |
326.400 |
|
|
b) Reserves & Surplus |
18167.900 |
|
|
c) Money received against share warrants |
0.000 |
|
|
Sub Total- Shareholders funds |
18494.300 |
|
2 |
Share application money pending allotment |
0.000 |
|
3 |
Minority Interest |
0.000 |
|
4 |
Non-current liabilities |
|
|
|
(a) Long term borrowings |
4879.400 |
|
|
(b) Deffered tax Liabilities |
1340.000 |
|
|
(b) Other long term liabilities |
350.800 |
|
|
fc) Long term provisions |
1409.200 |
|
|
Sub Total- Non Current Liabilities |
7979.400 |
|
5 |
Current liabilities |
|
|
|
(a) Short term borrowings |
2382.500 |
|
|
(b) Trade Payables |
8519.100 |
|
|
(c) Other current liabilities |
4250.300 |
|
|
(d) Short term provisions |
230.300 |
|
|
Sub Total- Current Liabilities |
15382.200 |
|
|
TOTAL-EQUITY AND
LIABILITIES |
41855.900 |
|
B |
ASSETS |
|
|
1 |
Non-current assets |
|
|
|
(a) Fixed assets |
13842.800 |
|
|
(b) Non-Current investment |
446.800 |
|
|
©Long term loans and advances |
2599.500 |
|
|
(d)Other non – current assets |
126.200 |
|
|
Sub-Total- Noncurrent assets |
17015.300 |
|
2 |
Current assets |
|
|
|
a) Current Investments |
4043.900 |
|
|
b) Inventories |
6331.400 |
|
|
c) Trade Receivables |
9165.700 |
|
|
d) Cash and cash equivalents |
878.800 |
|
|
(e) Short term loans and advances |
2133.000 |
|
|
(f) Other current assets |
2287.800 |
|
|
Sub-Total- current assets |
24840.600 |
|
|
TOTAL ASSETS |
41855.900 |
SEGMENT WISE REVENUE RESULTS AND CAPITAL EMPLOYED UNDER CLAUSE 41 OF
THE LISTING AGREEMENT
|
Particulars |
Three months ended |
Year ended |
||
|
30.09.2013 |
30.06.2013 |
30.09.2013 |
||
|
Unaudited |
Unaudited |
Unaudited |
||
|
1 |
Segment Revenue |
|
|
|
|
|
Fertilizer |
1749.500 |
1696.700 |
3446.200 |
|
|
Shriram Farm Solutions |
4389.800 |
4486.100 |
8875.900 |
|
|
Bioseed |
341.800 |
3749.600 |
4091.400 |
|
|
Sugar |
2599.900 |
2807.600 |
5407.500 |
|
|
Hariyali Kisaan Bazzar |
1110.600 |
1373.000 |
2483.600 |
|
|
Chloro Vinyl |
2817.000 |
3586.100 |
6403.100 |
|
|
Cement |
349.500 |
367.500 |
717.000 |
|
|
Others |
459.700 |
527.000 |
986.700 |
|
|
Total |
13817.800 |
18593.600 |
32411.400 |
|
|
Less: Inter-Segment revenue |
31.9000 |
1828.100 |
1860.000 |
|
|
Net Sales I Income
from Operations |
13785.900 |
16765.500 |
30551.400 |
|
|
|
|
|
|
|
2 |
Segment Results Profit I (Loss) (before tax, finance cost and exceptional items) from Segment |
|
|
|
|
|
Fertilizer |
54.900 |
115.800 |
170.700 |
|
|
Shriram Farm Solutions |
278.600 |
204.500 |
483.100 |
|
|
Bioseed |
(182.100) |
952.400 |
770.300 |
|
|
Sugar |
4.800 |
80.400 |
85.200 |
|
|
Hariyali Kisaan Bazzar |
(4.200) |
11.100 |
6.900 |
|
|
Chloro Vinyl |
718.500 |
1131.600 |
1850.100 |
|
|
Cement |
(19.600) |
48.200 |
28.600 |
|
|
Others |
(31.500) |
(19.200) |
(50.700) |
|
|
Total |
819.400 |
2524.800 |
3344.200 |
|
|
Less: |
|
|
|
|
|
i) Finance costs |
295.200 |
277.700 |
572.900 |
|
|
ii) Other un-allocable expenditure net off un-allocable income l expenditure |
150.500 |
114.400 |
264.900 |
|
|
Total Profit(Loss)
before Tax |
373.700 |
2132.700 |
2506.400 |
|
|
|
|
|
|
|
3 |
Segment Capital employed |
|
|
|
|
|
Fertilizer |
1820.000 |
3572.400 |
1820.000 |
|
|
Shriram Farm Solutions |
3834.400 |
5411.800 |
3834.400 |
|
|
Bioseed |
2724.600 |
2299.600 |
2724.600 |
|
|
Sugar |
5695.900 |
6145.500 |
5695.900 |
|
|
Hariyali Kisaan Bazzar |
1876.300 |
1943.000 |
1876.300 |
|
|
Chloro Vinyl |
5129.800 |
5284.400 |
5129.800 |
|
|
Cement |
131.200 |
132.600 |
131.200 |
|
|
Others |
822.500 |
829.700 |
822.500 |
|
|
Total Segment Capital
Employed |
22034.700 |
25619.000 |
22034.700 |
Note:
- The Company has paid an interim dividend of Rs. 1.80 per equity share of Rs. 2 each, aggregating to Rs. 342.000 Millions (including dividend tax) during the quarter.
- In accordance with the accounting policy consistently followed by the Company for interim results, the off-season expenditure aggregating Rs. 178.7 Millions for the quarter and Rs. 318.700 Millions for the half year ended September 30, 2014 respectively (corresponding quarter and half year last year: Rs. 232.500 Millions and Rs. 347.400 Millions respectively) has been deferred for inclusion in the cost of sugar to be produced in the remaining part of the financial year and is considered as ‘inventory’ for these results.
- Some of the business segments are of seasonal nature and accordingly impact the results in the respective quarters based on seasonality of operations
- With effect from April 1, 2014, depreciation on fixed assets is computed in accordance with Schedule II of the Companies Act 2013. Consequent thereto, depreciation charge for the quarter and half year is lower by Rs. 40.600 Millions and Rs. 7.9.500 Millions respectively.
- Zeus Investments Limited (a 100% subsidiary) has been liquidated during the quarter.
- Previous period figures have been recast, wherever necessary.
- The above results were approved and taken on record by the Board of Directors in their meeting held on November 12, 2014.
PRESS LEASE:
FENESTA LAUNCHES ITS FIRST SIGNATURE STUDIO TO EXPAND RETAIL OPERATIONS
New Delhi, August 14, 2014: Fenesta Building Systems, India’s largest windows company and a division of DCM Shriram Limited. Is expanding its retail outreach in the country. The company announced the launch of its flagship owned Fenesta Signature Studio at The Great India Place Mall, Noida in the national capital region today.
The new Signature Studio will change the way of buying doors and windows for the Indian consumers as the customers will be able to touch and feel the product before the purchase. The Signature Studio is positioned as a premium interior lifestyle store that is in sync with Fenesta’s aspirational brand imagery.
While inaugurating the first Fenesta Signature Studio, Mr. Ajay S Shriram, Chairman & Senior Managing Director, and Mr. Vikram S Shriram, Vice Chairman & Managing Director, DCM Shriram Limited. said, “They’re excited to launch the new Signature Studio of Fenesta for the consumers in Delhi-NCR. It has always been Fenesta’s endeavor to design windows and doors that suit India’s unique requirements. Fenesta uses world class technology to meet the demands of the discerning Indian consumer.”
Further, Mr. Alex Murphy, President and Business Head, Fenesta Building Systems added, “This studio will help in better visualization of interior solutions with life-size displays and extensive presentations of product designs. This along with the technical support at hand and aesthetically appealing displays will make the product experience simple, well-informed yet absolutely incredible for the customer. It will also enhance the design palette available to architects and end users.”
Fenesta will be expanding its network with its wholly owned Signature Studio to other cities in India including Mumbai, Ahmedabad, Chennai, Hyderabad, Kolkata and Pune.
Mr. Alex Murphy added, “They are confident that the Signature Studios will provide consumers across India access to world class contemporary designs and trends in styled doors, windows and conservatories.”
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.61.50 |
|
|
1 |
Rs.92.16 |
|
Euro |
1 |
Rs.69.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
YES |
|
--EPF |
YES/NO |
YES |
|
TOTAL |
|
63 |
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.