MIRA INFORM REPORT

 

 

Report No. :

326547

Report Date :

09.06.2015

 

                                                                IDENTIFICATION DETAILS

 

Name :

GRASIM INDUSTRIES LIMITED (w.e.f. 22.07.1986)

 

 

Formerly Known As :

GWALIOR RAYON SILK (WEAVING) COMPANY LIMITED

 

 

Registered Office :

Birlagram, Nagda, ujjain  – 456331, Madhya Pradesh

Tel No.:

91-7366-246760

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

25.08.1947

 

 

Com. Reg. No.:

10-000410

 

 

Capital Investment / Paid-up Capital :

Rs.918.700 Million

 

 

CIN No.:

[Company Identification No.]

L17124MP1947PLC000410

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

BPLG00117F/ BPLG00021A/ BPLG01651G

 

 

PAN No.:

[Permanent Account No.]

AAACG4464B

 

 

Legal Form :

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

 

 

Line of Business :

Subject is engaged primarily in two businesses Manufacture of Viscose Staple Fibre (VSF) and in Cement. It also produces Rayon Grade Pulp, Caustic Soda and allied Chemicals, which are used in the manufacture of VSF.

 

 

No. of Employees :

1000 (Approximately)

 

 

                                                                  RATING & COMMENTS

 

MIRA’s Rating :

Aa (80)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

USD 320000000

 

 

Status :

Excellent

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist

 

 

Comments :

Subject is a flagship company of the Aditya Birla Group. It is a well-established company having excellent track and ranks among India's largest private sector companies.

 

The company possesses a strong financial profile marked by comfortable capital structure and debt coverage indicators along with robust liquidity position with healthy cash accruals and high financial flexibility.

 

Trade relations are trustworthy. Business is active. Payment terms are reported as regular and as per commitments.

 

The company can be considered good for normal business dealings at usual trade terms and conditions.

 

NOTES :

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

 

ECGC Country Risk Classification List – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CRISIL

Rating

Long Term Bank Facilities = AAA

Rating Explanation

Highest degree of safety and carry lowest credit risk.

Date

04.03.2015

 

Rating Agency Name

CRISIL

Rating

Short Term Rating  = A1+

Rating Explanation

Very Strong degree of safety and carry lowest credit risk.

Date

04.03.2015

 

 

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 31-03-2013.

 

INFORMATION PARTED BY

 

Name :

Ms. Saroj Kumari

Designation :

Manager

Contact No.:

91-7366-246760

Date :

06.06.2015

 

 

                                                                           LOCATIONS

 

Registered Office :

Birlagram, Nagda, ujjain  – 456331, Madhya Pradesh, India

Tel. No.:

91-7366-246760/ 62/ 64/ 66 / 256556

Fax No.:

91-7366-244114/ 246024

E-Mail :

anil.ladha@adityabirla.com

grasimshares@adityabirla.com

shares@adityabirla.com

Website :

http://www.grasim.com

 

 

Corporate Office :

91, Sakhar Bhavan, 230, Nariman Point, Mumbai – 400021, Maharashtra, India

Tel. No.:

91-22-22819520

Fax No.:

91-22-22284629

 

 

Administrative Office:

Staple Fiber Division, Century Bhawan, 3rd Floor, Dr. A B Road, Worli, Mumbai – 400030, Maharashtra, India

Tel. No.:

91-22-24210182-86/ 22025012/ 24210182/ 24303169/ 22043451/ 65991600

Fax No.:

91-22-24220892

 

 

Branch Office :

Hub Town Solaris, 5th Floor, 501A and 502, Prof N S Phadke Marg, Andheri (East), Mumbai, Maharashtra, India

Tel. No.:

91-22-61957700

Fax No.:

91-22-61957702

 

 

Plants  :

FIBRE, PULP CHEMICAL AND TEXTILES PLANTS

 

Staple Fibre Division

Birlagram, Nagda – 456 331, Madhya Pradesh, India

Tel. No. 91-7366-246760-246766

Fax No. 91-7366-244114/246024

 

Harihar Polyfibres and Grasilene Division

Harihar, District Haveri, Kumarapatnam – 581 123, Karnataka, India

Tel. No. 91-8373-232637-39

Fax No. 91-8373-232465/ 232875

             91-8192-247555

 

Birla Cellulosic

Birladham, Kharach, Kosamba 394 120, District Bharuch, Gujarat, India

Tel. No. 91-2629-270001/5

Fax No. 91-2629-270010/270310

 

Grasim Cellulsic Division

Plot no.1, GIDC, Vilayat Industrial Estate P. O. Vilayat, Taluka Vagra, District Bharuch – 392012, Gujarat, India

 

Chemical Plants

 

Chemical Division

Birlagram 456 331, Nagda, Madhya Pradesh, India

Tel No. : 91-7366 245501 – 03

Fax No. : 91-7366 246767 / 245845

 

Grasim Chemical Division / EPOXY Division

Plot No.1, GIDC, Vilayat Industrial Estate P. O. Vilayat, Taluka Vagra, District Bharuch – 392012, Gujarat, India

 

Textile Plant

Vikram Woollens

GH I to IV, Ghironghi Malanpur–477 117, District Bhind, Madhya Pradesh, India

Tel.: 91-7539-283602 / 283603

Fax: 91-7539-283339

 

 

DIRECTORS

 

As on. 31.03.2014

 

Name :

Mr. Kumar Mangalam Birla

Designation :

Chairman

 

 

Name :

Mrs. Rajashree Birla

Designation :

Director

Qualification :

BA

 

 

Name :

Mr. Madhav L. Apte

Designation :

Director

Qualification :

BA

 

 

Name :

Mr. B. V. Bhargava

Designation :

Director

Qualification :

Commerce

Law

 

 

Name :

Mr. R. C. Bhargava

Designation :

Director

Qualification :

Mathematics

 

 

Name :

Mr. Cyril Shroff

Designation :

Director

 

 

Name :

Dr. Thomas M. Connelly

Designation :

Director

Qualification :

PHD Chemical Engineering

 

 

Name :

Mr. Shailendra K. Jain

Designation :

Whole Time Director

 

 

Name :

Mr. N. Mohan Raj (w.e.f. 21st June, 2012)

Designation :

Director

 

 

Name :

Mr. D. D. Rathi

Designation :

Director

 

 

Name :

Mr. Mr. Adesh Gupta

Designation :

Whole Time Director

 

 

Name :

Mr. K K Maheshwari

Designation :

Managing Director

 

 

                                                                      KEY EXECUTIVES

 

Name :

Mr. Ashok Malu

Designation :

Company Secretary

 

 

Name :

Mr. Adesh Gupta

Designation :

Manager and Chief Financial Officer

 

 

 

Fibre and Pulp Business

Name :

Mr. K.K. Maheshwari

Designation :

Business Director

 

 

Name :

Mr. S.K. Saboo

Designation :

Group Advisor, Chairman’s Office

 

 

Name :

Dr. Prakash Maheshwari

Designation :

Chief Operating Officer (India) and Head (Projects)

 

 

Name :

Mr. Vijay Kaul

Designation :

Group Executive President (Marketing) and Head-Pulp Operations

 

 

Name :

Mr. Vinod Tiwari

Designation :

Chief Operating Officer (Pulp Operations)

 

 

Name :

Dr. Aspi Patel

Designation :

Chief Technology Officer

 

 

Name :

Mr. Rajeev Gopal

Designation :

Chief Marketing Officer

 

 

Name :

Dr. Raju Mistry

Designation :

Chief People Officer

 

 

Name :

Mr. Anil Rustogi

Designation :

Dy.CFO and Sr. President

 

 

 

Cement Business

Name :

Mr. O.P. Puranmalka

Designation :

Business Head

 

 

Name :

Mr. R.K. Shah

Designation :

Group Executive President and CMO (Mfg. and Projects)

 

 

Name :

Mr. Vivek Agarwal

Designation :

Chief Marketing Officer

 

 

Name :

Mr. K.C. Birla

Designation :

Sr. Executive President (Finance)

 

 

 

Chemical Business

Name :

Mr. Lalit Naik

Designation :

Business Head

 

 

Name :

Mr. K.C. Jhanwar

Designation :

Group Executive President

 

 

Name :

Mr. G.K. Tulsian

Designation :

Executive President

 

 

Name :

Mr.Anil Kumar Sinha

Designation :

Chief People Officer

 

 

 

Textile Business

Name :

Mr. Thomas Varghese

Designation :

Chief Executive Officer

 

 

Name :

Mr. S. Krishnamoorthy

Designation :

President

 

 

 

Corporate Finance Division

Name :

Mr. Pavan K. Jain

Designation :

Executive President

 

 

Name :

Mr. Hemant K. Kadel

Designation :

Executive President

 

 

Name :

Ms. Saroj Kumari

Designation :

Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 31.03.2015

 

Category of Shareholder

No. of Shares

Percentage of Holding

(A) Shareholding of Promoter and Promoter Group

 

 

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

 

 

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

133372

0.17

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

23296096

29.65

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

23429468

29.82

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

 

 

Total shareholding of Promoter and Promoter Group (A)

23429468

29.82

(B) Public Shareholding

 

 

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

 

 

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

7012141

8.93

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

182354

0.23

http://www.bseindia.com/include/images/clear.gifInsurance Companies

8364047

10.65

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

20962850

26.68

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

36521392

46.49

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

 

 

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

6277852

7.99

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

 

 

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

8341422

10.62

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

779330

0.99

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

3213945

4.09

http://www.bseindia.com/include/images/clear.gifOverseas Corporate Bodies

2622613

3.34

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

591332

0.75

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

18612549

23.69

Total Public shareholding (B)

55133941

70.18

Total (A)+(B)

78563409

100.00

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

0

0.00

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

4802304

0.00

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

8486472

0.00

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

13288776

0.00

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

91852185

0.00

 

 

 

                                                                    BUSINESS DETAILS

 

Line of Business :

Subject is engaged primarily in two businesses Manufacture of Viscose Staple Fibre (VSF) and in Cement. It also produces Rayon Grade Pulp, Caustic Soda and allied Chemicals, which are used in the manufacture of VSF.

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Fiber, Cement

Countries :

China

Nepal

 

 

Imports :

 

Products :

Raw Material

Countries :

South Africa

 

 

Terms :

 

Selling :

Credit

 

 

Purchasing :

Credit

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Available

Name of the Person :

Not Available

Contact No.:

Not Available

Since How Long Known :

Not Available

Experience :

Not Available

Maximum Limit Dealt :

Not Available

 

 

Customers :

Reference :

Not Available

Name of the Person :

Not Available

Contact No.:

Not Available

Since How Long Known :

Not Available

Experience :

Not Available

Maximum Limit Dealt :

Not Available

 

 

No. of Employees :

1000 (Approximately)

 

 

Bankers :

·         State Bank of India, Bahrain

·         EXIM Bank, USA

·         Hongkong Bank, London

·         IDBI Bank

·         ICICI Bank Limited

·         Mashreq Bank, Dubai

·         Standard Chartered Grindlays Bank, Dubai

·         British Bank of Middle East, Dubai

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2015

As on

31.03.2014

Long Term Borrowing

 

Rupee Term Loans From Banks

 

9644.300

Short Term Borrowing

 

 

Loans Repayable on Demand From Bank

Working Capital Borrowings

 

 

Foreign Currency Loans

 

0.000

Rupee Loans

 

938.600

Total

 

10582.900

 

NA

 

Note :

 

Secured Long-Term Borrowings (as on 31.03.2014)

a)     Rupee Term Loan secured by exclusive charge on certain specific fixed assets of the Company located at Nagda (Staple Fibre Division) and Harihar (Staple Fibre and Pulp Divisions) Quarterly ballooning repayment from October 2007, over 8 year

 

b)    Rupee Term Loan secured by first pari passu charge on the fixed assets, both present and future, of the Company located at Nagda (Staple Fibre, Chemical and Engineering & Development Divisions), Kharach (Staple Fibre Division) and Harihar  (Staple Fibre and Pulp Divisions) [excluding those specific fixed assets, which are exclusively charged for the loan mentioned in Note (a) above] Quarterly ballooning repayment from April 2010, over 8 years

 

c)     Rupee Term Loan secured by first pari passu charge on the Plant and Machinery, both present and future, of the Company located at Vilayat (Staple Fibre Division) Quarterly ballooning repayment from April 2014, over 5 years

 

d)    Foreign Currency Loan secured by first pari passu charge on the fixed assets, both present and future, of the Company located at Nagda (Staple Fibre, Chemical and Engineering & Development Divisions), Kharach (Staple Fibre Division) and Harihar (Staple Fibre and Pulp Divisions) [excluding those specific fixed assets,  which are exclusively charged for the loan mentioned in Note (a) above] - Repayable after 5 years, bullet repayment in April 2013

 

Unsecured Long-Term Borrowings:

Deferred Sales Tax Loans

a)     Repayable in six annual instalments starting from 31st May, 2012

b)    Repayable after ten years from the respective year in which the actual tax was collected, starting from 14th March, 2011

 

Auditors :

 

 

 

Statutory Auditors 1 :

 

Name :

G P Kapadia and Company

Chartered Accountants

Address :

Mumbai, Maharashtra, India

 

 

Statutory Auditors 2 :

 

Name :

Deloitte Haskins and Sells

Chartered Accountants

Address :

Mumbai, Maharashtra, India

 

 

Branch Auditors  :

 

Name:

Vidyarthi and Sons

Chartered Accountants

Address:

Gwalior

 

 

Solicitors:

·         Amarchan and Mangaldas and Suresh A Shroff and Company

 

 

Wholly Owned Subsidiary (AS ON 31.03.2014) :

·         Sun God Trading and Investments Limited

·         Samruddhi Swastik Trading and Investments Limited

·         Grasim Bhiwani Textiles Limited

·         Aditya Birla Power Ventures Limited (w.e.f. 29th July, 2011)

 

 

Sub-Subsidiaries (AS ON 31.03.2014) :

·         UltraTech Cement Limited

·         UltraTech Cement Lanka Private Limited, Sri Lanka

·         Dakshin Cement Limited

·         Harish Cement Limited

·         UltraTech Cement Middle East Investment Limited, Dubai, UAE

·         Star Cement Co. LLC, Dubai, UAE

·         Star Cement Co. LLC, RAK, UAE

·         Al Nakhla Crusher LLC, Fujairah, UAE

·         Arabian Cement Industry LLC, Abu Dhabi, UAE

·         Arabian Gulf Cement Co. WLL, Bahrain

·         Emirates Power Company Limited, Bangladesh

·         Emirates Cement Bangladesh Limited, Bangladesh

·         PT UltraTech Mining Indonesia, Indonesia (w.e.f. 12th April, 2011)

·         UltraTech Cement SA (PTY), South Africa (w.e.f. 9th April, 2011)

·         UltraTech Cement Mozambique Limitada, Mozambique (w.e.f. 22nd February, 2012)

·         PT UltraTech Investments Indonesia, Indonesia (w.e.f. 26th March, 2012)

·         PT UltraTech Cement, Indonesia (w.e.f. 16th July, 2012)

·         Gotan Lime Stone Khanij Udyog Private Limited (w.e.f. 23rd July, 2012)

·         Bhagwati Lime Stone Company Private Limited (w.e.f. 3rd April, 2013)

 

 

Joint Venture (AS ON 31.03.2014) :
  • A V Cell Inc., Canada
  • A V Nackawic Inc., Canada
  • Birla Jingwei Fibres Company Limited, China
  • Birla Lao Pulp & Plantations Company Limited, Laos
  • Bhubaneswari Coal Mining Limited
  • A V Terrace Bay Inc., Canada (w.e.f. 12th July, 2012)
  • Aditya Group AB, Sweden (w.e.f. 1st October, 2012)

 

 

Associate (AS ON 31.03.2014) :
  • Aditya Birla Science & Technology Company Limited Associate
  • Idea Cellular Limited Associate
  • Aditya Group AB, Sweden (upto 30th September, 2012)

 

 

                                                                   CAPITAL STRUCTURE

 

As on 31.03.2015

 

Authorised Capital : NOT AVAILABLE

 

Issued, Subscribed & Paid-up Capital : Rs. 918.700 Million

 

As on: 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

95000000

Equity Shares

Rs.10/- each

Rs.950.000 Million

150000

15%    “A” Series - Redeemable Cumulative Preference Shares

Rs.100/- each 

Rs.15.000 Million

100000

8.57% “B” Series - Redeemable Cumulative Preference Shares

Rs.100/- each 

Rs.10.000 Million

300000

9.30% “C” Series - Redeemable Cumulative Preference Shares

Rs.100/- each 

Rs.30.000 Million

 

TOTAL

 

Rs.1005.000 Million

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

91776533

Equity Shares

Rs.10/- each

Rs.918.300 Million

 

Share Capital Suspense

14,879 (14,906) Equity Shares of Rs.10 each to be issued as fully paid-up pursuant to acquiring of Cement Business of Aditya Birla Nuvo Limited under the Scheme of Arrangement without payment being received in cash

 

Rs.0.100 Million

 

Total

 

Rs.918.400 Million

 

 

Reconciliation of the Number of Equity Shares Outstanding (including Share Capital Suspense)

 

Particular

Number of Shares

Outstanding as at the beginning of the year

91791412

Issued during the year under Employee Stock Option Scheme

50438

Outstanding as at the end of the year

91841850

 

 

Aggregate number of Equity Shares allotted as fully paid-up out of Share Capital Suspense Account as aforesaid during the period of five years immediately preceding the reporting date (without payment being received in cash)

378

 

 

List of Shareholders holding more than 5% shares in the Equity Share Capital of the Company:

Particular

Number of Shares

Turquoise Investment and Finance Private Limited

5908341

Trapti Trading and Investments Private Limited

5477863

Life Insurance Corporation of India

7696546

 

 

Equity Shares of Rs.10 each represented by Global Depository Receipts (No voting rights)

13259243

 

 

Rights, Preferences and Restrictions attached to Equity Shares:

 

The Company has only one class of Equity Shares having a par value of Rs.10 per share. Each holder of Equity Shares is entitled to one vote per share. The Company declares dividend in Indian Rupees. The dividend proposed by the Board of Directors is subject to the approval of the Shareholders in the ensuing Annual General Meeting.

 

In the event of liquidation of the Company, the holders of Equity Shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of Equity Shares held by the Shareholders.

 

282,502 (Previous Year 152,406) Equity Shares of Face Value of Rs. 10 each are reserved for issue under Employee Stock Option Scheme, 2006 (ESOS-2006) (ESOS – 2006) and Employee Stock Option Scheme – 2013 (ESOS – 2013)

 

Under the ESOS-2006, the Company has granted 306,675 Options to its eligible employees in four tranches, the details of which are given hereunder:

 

 

I

II

III

IV

No. of Options Granted

201,530

16,610

71,297

6,037

Grant Date

23rd Aug,

25th Jan

30th Aug,

2nd June

Grant Price (Rs. Per Share)

1,928

2,885

1,440

1,594

Revised Grant Price*

1,523

2,279

N.A.

N.A.

Market Price on the Date of Grant (Rs.)

2,728

2,885

2,018

2,330

Method of Accounting

Intrinsic Value

Graded Vesting Plan

25% every year, commencing one year from the date of grant

Normal Exercise Period

5 years from the date of vesting

 

* The Grant Price in respect of Tranche I and II was revised in the Financial Year 2010-11 as per the Scheme of Demerger of Cement Business.

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2015

31.03.2014

31.03.2013

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

918.700

918.400

917.900

(b) Reserves & Surplus

110910.500

107357.400

100300.700

(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)

111829.200

108275.800

101218.600

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

8565.400

10043.800

9809.200

(b) Deferred tax liabilities (Net)

6145.100

4620.000

3439.100

(c) Other long term liabilities

209.800

146.600

129.100

(d) long-term provisions

676.300

423.100

434.400

Total Non-current Liabilities (3)

15596.600

15233.500

13811.800

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

742.000

1271.600

1795.800

(b) Trade payables

6289.300

4513.900

3456.900

(c) Other current liabilities

4857.100

4819.800

5396.500

(d) Short-term provisions

4357.900

4661.900

4981.200

Total Current Liabilities (4)

16246.300

15267.200

15630.400

 

 

 

 

TOTAL

143672.100

138776.500

130660.800

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

56379.000

53551.900

20702.500

(ii) Intangible Assets

 

0.000

17.100

(iii) Capital work-in-progress

 

0.000

24250.900

(iv) Intangible assets under development

 

0.000

0.000

(b) Non-current Investments

44861.400

44201.000

45188.100

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

5260.500

4786.000

4394.500

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

106500.900

102538.900

94553.100

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

8642.000

11835.400

17056.200

(b) Inventories

14331.500

12122.700

7893.400

(c) Trade receivables

6874.900

6137.900

5053.900

(d) Cash and cash equivalents

531.900

263.000

162.700

(e) Short-term loans and advances

6429.600

5514.900

5675.600

(f) Other current assets

361.300

363.700

265.900

Total Current Assets

37171.200

36237.600

36107.700

 

 

 

 

TOTAL

143672.100

138776.500

130660.800

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

Income

63325.800

56035.000

52550.100

 

Other Income

3480.700

3847.900

4345.700

 

TOTAL (A)

66806.500

59882.900

56895.800

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

36223.300

29826.100

26094.100

 

Purchases of Stock-in-Trade

211.000

68.000

48.700

 

Changes in Inventories of Finished Goods, Work-in-Progress and Stock-in-Trade

(650.400)

40.500

(265.600)

 

Employee Benefits Expense

4822.500

3788.000

3717.900

 

Power and Fuel

10406.200

8145.800

7143.300

 

Freight and Handling Expenses

1066.500

943.200

829.900

 

Other Expenses

4597.000

4809.200

4398.700

 

Captive Consumption

--

(199.100)

(298.700)

 

Exceptional Item

262.400

0.000

(2044.300)

 

TOTAL (B)

56938.500

47421.700

39624.000

 

 

 

 

 

Less

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

9868.000

12461.200

17271.800

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

393.300

415.200

390.900

 

 

 

 

 

 

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

9474.700

12046.000

16880.900

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

2625.500

2196.100

1592.100

 

 

 

 

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

6849.200

9849.900

15288.800

 

 

 

 

 

Less

TAX (H)

1550.200

890.000

3028.900

 

 

 

 

 

 

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

5299.000

8959.900

12259.900

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

NA

15494.000

6623.400

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

Transfer to General Reserve

NA

7000.000

1226.000

 

Corporate Dividend Tax

NA

74.800

98.100

 

Proposed Dividend

NA

1928.700

2065.200

 

Transfer to Debenture Redemption  Reserve

NA

0.000

0.000

 

Balance Carried to the B/S

NA

15450.400

15494.000

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

Export Of Goods On FBO Basis

 

15006.300

12631.400

 

Technical Know-how and Service Charges

 

3.200

2.400

 

Interest and Dividend

 

64.400

146.600

 

Sale of Fixed Asset

 

0.000

52.700

 

Others

 

0.000

11.700

 

TOTAL EARNINGS

NA

15073.900

12844.800

 

 

 

 

 

 

IMPORTS

 

 

 

Raw Materials

 

18026.300

11508.300

 

Stores & Spares

 

486.200

180.100

 

Capital Goods

 

1759.400

6374.900

 

TOTAL IMPORTS

NA

20271.900

18063.300

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

57.69

97.58

133.62

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

NA

1705.400

1235.200

Cash generated from operations

NA

2500.800

10703.900

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

PAT / Sales

(%)

8.37

15.99

23.33

 

 

 

 

 

Net Profit Margin

(PBDIT/Sales)

(%)

15.58

22.24

32.87

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

6.93

10.41

24.97

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.06

0.09

0.15

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

0.08

0.12

0.13

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

2.29

2.37

2.31

 

 

STOCK PRICES

 

Face Value

Rs.10.00/-

Market Value

Rs.3408.95/-

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

 

Particular

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

917.900

918.400

918.700

Reserves & Surplus

100300.700

107357.400

110910.500

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

101218.600

108275.800

111829.200

 

 

 

 

long-term borrowings

9809.200

10043.800

8565.400

Short term borrowings

1795.800

1271.600

742.000

Total borrowings

11605.000

11315.400

9307.400

Debt/Equity ratio

0.115

0.105

0.083

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

52550.100

56035.000

63325.800

 

 

6.632

13.011

 

 

 

NET PROFIT MARGIN

 

 

Net Profit Margin

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

52550.100

56035.000

63325.800

Profit

12259.900

8959.900

5299.000

 

23.33%

15.99%

8.37%

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

Yes

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

Yes

32

Litigations that the firm/promoter involved in

Yes

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

LITIGATION DETAILS

 

Registration Date

  20-06-2011 Pending

Case Detail

  WRIT PETITION (WP) 3929/2011

DA Name

  Preeti Gade [WP-DA-4] [CIS User ID : 854]

First Entry Clerk

  Entry Clerk 4 On 20-06-2011 03:46:50

Last Updated By

CR8 RDR On 15-10-2014 12:33:26

Last Listed On

15-10-2014 [HON'BLE SHRI JUSTICE SUJOY PAUL]

Last Order

List on fixed month (11)-Ord dt:15/10/2014

Tentative date

01-07-2015 (Computer generated) (Administrative Order)

Update On

 01-07-2015 [SB (proposed pool-I)]   UPDATED  

Status

Pending

Stage

Motion Hearing

[AFTER NOTICE (FOR ADMISSION) - CIVIL CASES]

(2. Administrative Order)

Statutory Info.

 [FOR ADM. and I.A.4720/2013 for hearing. (Entered on : 16-10-2014)]

Bench

Single Bench

File Location

 Case recieved by Record Room Pending( Writ) from Preeti Gade/WP on 30-10-2014

Scanning Info

The Judgment/Order has NOT been Scanned ..!

Category

CIVIL PROCEDURE & LIMITATION-11300

Code of Civil Procedure, 1908-11301

WRIT AGAINST ORDER OF SUBORDINATE COURT U/ARTICLE 227.

Act

  ARTICLE 227 OF THE CONSTITUTION

Petitioner(s)

1 MAJDOOR CONGRESS REPRESENTATIVE UNION THR.
VIDE PRESIDENT RATIRAM YADAV S/O SHRI HALKERAM R/O BIRLA NAGAR, GWALIOR , Gwalior , MADHYA PRADESH

Respondent(s)

1  GRASIM INDUSTRIES LTD

 (TEXTILE DIVISION) BIRLA NAGAR, GWALIOR , Gwalior , MADHYA PRADESH

Pet. Advocate(s)

PRASHANT SHARMA,SARVESH SHARMA, DEVENDRA SHARMA,

Resp. Advocate(s)

D.K.AGARWAL

Caveat No.

District

GWALIOR

U/Section

MATTER OF APPL. OF EXECUT AS ABOVE ||

 

UNSECURED LOAN

(Rs. In Million)

Particular

As on

31.03.2015

As on

31.03.2014

Long Term Borrowing

 

Deferred Sales Tax Loans

 

399.500

Short Term Borrowing

 

 

Working Capital Borrowings

 

0.000

Foreign Currency Loans

 

310.000

Rupee Loans

 

23.000

Total

NA

732.500

Note.: Working Capital Borrowings are secured by hypothecation of stocks and book debts of the Company

 

 

 

CONTINGENT LIABILITIES NOT PROVIDED FOR IN RESPECT OF:

(Rs. In Million)

Particular

31.03.2015

31.03.2014

Claims/Disputed Liabilities not acknowledged as debt:

 

Custom Duty

 

70.600

Sales Tax/Purchase Tax/VAT

 

0.100

Excise Duty/Cenvat Credit/Service Tax

 

831.600

Water Cess

 

176.900

Income Tax

 

1443.600

Various claims in respect of disputed liabilities of discontinued business in earlier year

 

342.600

Others

 

269.500

Out of the above matter disputes pending with Revenue and other Government authorities challenged/appealed by the Company are:

 

 

a)Income tax demand raised on completion of assessment for the Financial Year 2009-10

 

1443.600

b)Excise Duty demanded against Cenvat credit availed in respect of electricity not used for manufacturing

 

548.200

c)Transfer of Cenvat credit on merger of excise registration of two units disputed by Excise Department

 

194.400

(d) Custom classification dispute on import of coal 

 

51.100

e)Water charges for water not made available as per agreement

 

176.900

f)Penalty for not utilising the land within the time limit prescribed

as per the sanction document, utilisation of which is delayed due

to non-fulfilment of condition by Gujarat Industrial Development

Corporation

NA

69.600

Cash outflows for the above are determinable only on receipt of judgements pending at various forums/ authorities.

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10533443

02/12/2014

363,860,000.00

HDFC BANK LIMITED

BANK HOUSE, 3RD FLOOR, BRILLIAN AVENUE, BEHIND BOMBAY HOSPITAL, SCHEME 94, INDORE, MADHYA PRADESH - 
452010, INDIA

C35089663

2

10326687

07/01/2012

9,000,000,000.00

STATE BANK OF INDIA

CORPORATE ACCOUNT GROUP BRANCH, NEVILLE HOUS ,JN HEREDIA MARG, MUMBAI, MAHARASHTRA -400001,INDIA

B29015542

3

10108132

18/05/2010 *

3,000,000,000.00

IDBI BANK LIMITED

IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

A86805397

4

80024425

15/12/2005

1,386,000,000.00

INDUSTRIAL DEVELOPMENT BANK OF INDIA LIMITED

IDBI TOWER, WTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

-

5

80024325

18/05/2010 *

8,300,000,000.00

STATE BANK OF INDIA

CORPORATE ACCOUNTS GROUP, VOLTAS HOUSE,, 23, JN HEREDIA MARG,, MUMBAI, MAHARASHTRA - 400001, INDIA

A87144812

 

* Date of charge modification

 

FIXED ASSETS

 

  • Freehold Land
  • Leasehold Land
  • Buildings
  • Plant and Equipment
  • Furniture and Fixtures
  • Vehicles
  • Office Equipment
  • Railway Sidings
  • Computer Software
  • Computer and Other Electronic
  • Office Equipment

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

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

 

1]         INFORMATION ON DESIGNATED PARTY

No records 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 records 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.64.11

UK Pound

1

Rs.97.84

Euro

1

Rs.71.12

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

KVT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

9

PAID-UP CAPITAL

1~10

9

OPERATING SCALE

1~10

9

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

9

--PROFITABILIRY

1~10

8

--LIQUIDITY

1~10

9

--LEVERAGE

1~10

9

--RESERVES

1~10

9

--CREDIT LINES

1~10

9

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

YES

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

YES

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

RBI

YES/NO

NO

EPF

YES/NO

NO

TOTAL

 

80

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

 

RATING EXPLANATIONS

 

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

 

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

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