MIRA INFORM REPORT
|
Report No. : |
329544 |
|
Report Date : |
27.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
UPL LIMITED (w.e.f. 11.10.2013) |
|
|
|
|
Formerly Known
As : |
UNITED PHOSPHORUS LIMITED |
|
|
|
|
Registered
Office : |
3-11, G.I.D.C., Valsad, Vapi – 396195, Gujarat |
|
Tel. No.: |
91-260-2400717 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
02.01.1985 |
|
|
|
|
Com. Reg. No.: |
04-025132 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.857.200 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24219GJ1985PLC025132 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Public limited liability company. Company’s shares are listed on the
Stock Exchange. |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Agro Chemicals, Fungicide, Herbicide,
Plant Growth and Regulators. |
|
|
|
|
No. of Employees
: |
2560 Employees in India and 3595 Employees Globally. |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (72) |
|
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 100700000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well – established company having fine track record. The rating takes into consideration dominant market position of UPL in
the global agro chemicals market supported by diversified product portfolio,
integrated operations across geographies, healthy revenue growth, decent
profitability margins and comfortable liquidity position. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
CARE |
|
Rating |
Long term bank facilities: “AA+” |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
October 13, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: “A1+” |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
October 13, 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
31-03-2013.
INFORMATION DECLINED
MANAGEMENT NON-CO-OPERATIVE (91-022-26468000)
LOCATIONS
|
Registered Office / Factory 1: |
3-11, G.I.D.C., Valsad, Vapi – 396195, Gujarat, India |
|
Tel. No.: |
91-260-2400717/ 2401945/ 2401960/ 2401718/ 2401719 |
|
Fax No.: |
91-260-2401823 |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Owned |
|
|
|
|
Corporate / Administrative Office : |
Uniphos House, Madhu Park, 11th Road, Chitrakar Dhurandar Marg, Khar (West), Mumbai - 400052, Maharashtra, India |
|
Tel. No.: |
91-22-26468000 |
|
Fax No.: |
91-22-26041010 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
Green Park Area, Block No 103/B, A/D, Gandhi Nagar - 180004, Jammu, India |
|
Tel No.: |
91-191-2430671 |
|
|
|
|
Factory 3 : |
CHEMO ELECTRONIC
LAB Nahuli – Vapi City, Valsad District - 396195, Gujarat, India |
|
Tel No.: |
91-260-2730156/ 2730158/ 2730159 |
|
|
91-260-2730160 |
|
|
|
|
Factory 4 : |
Plot No. 750, G.I.D.C., Jhagadia, District Bharuch, Gujarat, India |
|
Tel. No.: |
91-2645-26012/ 15/ 26016 |
|
Fax No.: |
2645-26017/ 18 |
|
|
|
|
Factory 5 : |
Serial No.225, Village Gopipura, Via Baska Taluka, Halol City, District Panchmal - 389350, Gujarat, India |
|
Tel No.: |
91-2676-247068/ 247052 |
|
Fax No.: |
91-2676-247068 |
|
|
|
|
Factory 6: |
117, G.I.D.C., Ankleshwar City, Bharuch District - 393002, Gujarat, India |
|
Tel No.: |
91-2646-251223/ 250336/ 251249/ 250279/ 250379 |
|
Fax No.: |
91-2646-250297 |
|
|
|
|
Factory 7: |
3405/6, G.I.D.C., Ankleshwar City, Bharuch District - 393002, Gujarat, India |
|
Tel No.: |
91-2646-250578/ 250493/ 250563 |
|
Fax No.: |
91-2646-251434 |
|
|
|
|
Factory 8: |
3101/2, G.I.D.C., Ankleshwar City, Bharuch District - 393002, Gujarat, India |
|
Tel No.: |
91-2646-251189/ 225174/ 224473/ 252684 |
|
Fax No.: |
91-2646–250615 |
|
|
|
|
Factory 9 : |
Agrochemical Plant, Durgachak Haldia, Midnapore District – 721602, West Bengal, India |
|
Tel No.: |
91-33-22486908 |
|
|
|
|
Sales Office : |
V-Fortune Building, 3rd Floor, S V Road, Next to Surya Children's Hospital, Near Vijay Sales, Opposite Petrol Pump, Santacruz (West), Mumbai - 400052, Maharashtra, India |
|
Tel. No.: |
91-22-27847769/ 27811554 |
|
Fax No.: |
91-79-27842399 |
|
Email : |
|
|
|
|
|
Godown : |
Survey No 154/B/1, Shed 2, S V Cooperative Industrial Estate, IDA Bollaram,
Jinnaram, Medak - 502313, Andhra Pradesh, India |
|
|
|
|
Overseas Offices : |
Located At : ·
Zambia ·
China ·
Australia ·
Japan ·
Russia ·
Korea ·
Vietnam ·
New Zealand ·
UK |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. R. D. Shroff |
|
Designation : |
Chairman and Managing Director |
|
|
|
|
Name : |
Mr. Jaidev Rajnikant Shroff |
|
Designation : |
Global CEO of the Group |
|
Date of Appointment : |
01.10.1992 |
|
Profile : |
Mr. Jaidev Rajnikant Shroff is a science graduate. He is Global CEO of the Group and he has worked with the Group for more than 21 years. He has substantial experience in various areas of the Group’s operations. |
|
Other Directorship
: |
· Uniphos Enterprises Limited · Nivi Trading Limited · Ventura Guaranty Limited · Advanta Limited, Member–Shareholders /Investors Grievance Committee · Tatva Global Environment Limited · Tatva Global Environment (Deonar) Limited · Pradeep Metals Limited |
|
DIN No.: |
00191050 |
|
|
|
|
Name : |
Mr. A. C. Ashar |
|
Designation : |
Director – Finance |
|
|
|
|
Name : |
Mrs. Sandra Rajnikant Shroff |
|
Designation : |
Vice Chairman |
|
Date of Appointment : |
01.10.1992 |
|
Profile : |
Mrs. Sandra Rajnikant Shroff has been associated with Uniphos Enterprises Ltd. (erstwhile United Phosphorus Ltd.) since its inception. She has held various important positions in commercial, educational and social fields. |
|
Other Directorship
: |
00189012 |
|
DIN No.: |
· Uniphos Enterprises Limited · Uniphos International Limited · Enviro Technology Limited · Nivi Trading Limited · Shroff United Chemicals Limited · Bharuch Enviro Infrastructure Limited · Vapi Waste and Effluent Management Co. Limited · Ventura Guaranty Limited |
|
|
|
|
Name : |
Mr. K. Banerjee |
|
Designation : |
Whole - Time Director |
|
|
|
|
Name : |
Mr. Pradeep Vedprakash Goyal |
|
Designation : |
Director |
|
Date of Appointment : |
29.03.2001 |
|
Profile : |
Mr. Pradeep Vedprakash Goyal is a Metallurgy Engineer from IIT and Master Graduate from MIT, USA. He has been the member of various associations such as All India Manufacturers Organisation, ASSOCHAM, Indo-German Chambers of Commerce, etc. He has authored a few articles relating to steel making. He is the Managing Director of Pradeep Metals Ltd. |
|
Other Directorship
: |
· Uniphos Enerprises Limited, Chairman – Audit Committee and Shareholders /Investors Grievance Committee · Hind Rectifiers Limited, Member – Audit Committee and Shareholders /Investors Grievance Committee · Jankalyan Sahakari Bank Limited |
|
DIN No.: |
00008370 |
|
|
|
|
Name : |
Dr. P. V. Krishna |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr. Reena Ramachandran |
|
Designation : |
Director |
|
Date of Appointment : |
21.10.2003 |
|
Profile : |
Dr. Reena Ramachandran is the Director General of Fortune Institute of Internationals Business, which is approved by the Ministry of HRD, Govt. of India. She has been member of various associations and institutions relating to education. Presently, she is also a member of the Expert Committee appointed by the Ministry of HRD to device Policy Perspectives for Management Education. She was also associated with various committees appointed by various Ministries of Government of India. She has done her Doctorate in Chemistry from University of Allahabad and Doctorate in Science (chemistry) in France. She has varied professional experience of over 41 years in Textile, Drug, Cement, Petroleum and Petro Chemical Industry. |
|
DIN No.: |
00212371 |
|
|
|
|
Name : |
Mr. Pradip Pranjivan Madhavji |
|
Designation : |
Director |
|
Date of Appointment : |
29.01.2004 |
|
Profile : |
Mr. Pradip Pranjivan Madhavji is a Commerce and Law Graduate. He has more than 50 years of experience in the fields of finance and administration. Formerly he was chief of Thomas Cook India Ltd. Apart from this, he is Hon. Consul of Colombia and he was also Hon. Consul of New Zealand and also holds positions in various trade bodies. Prior to joining Thomas Cook, he was in Dena Bank for 18 years. |
|
Other Directorship
: |
· IDFC Assets Management Co. Limited, Chairman – Audit Committee and Shareholders / Investors Grievance Committee · India Gelatine and Chemicals Limited |
|
DIN No.: |
00549826 |
|
|
|
|
Name : |
Mr. Vinod Rajindranath Sethi |
|
Designation : |
Director |
|
Date of Appointment : |
30.01.2006 |
|
Profile : |
Mr. Vinod Rajindranath Sethi is a Chemical Engineer from IIT, Mumbai and Master in Business Administration from IIM, Ahmedabad. Presently, he runs his own private investment bank. He was previously with Morgan Stanley. He has many years of experience in the field of finance. |
|
Other Directorship
: |
· K C P Sugar and Industries Limited · Advanta Limited, Chairman – Audit Committee and Shareholders /Investors Grievance Committee · Itz cash card Limited · IRB Infrastructure Limited |
|
DIN No.: |
00106598 |
|
|
|
|
Name : |
Mr. Suresh Prabhakar Prabhu |
|
Designation : |
Director |
|
Date of Appointment : |
29.01.2013 |
|
Profile : |
Mr. Suresh Prabhakar Prabhu is an eminent Chartered Accountant. He has been a Member of Parliament in the 11th, 12th, 13th and 14th Lok Sabha (from 1996-2009) and was a Cabinet Minister of Industry, Energy, Environment and Forests, Chemicals and Fertilisers, Heavy Industry and Public Enterprises. Mr. Suresh Prabhakar Prabhu is a well-known personality and has many years of experience in the field of Sustainable development, Banking and finance and International business. He has participated and also addressed at many invents and forums in India and abroad. He is a member of many reputed associations representing business, sports, education and social works. |
|
Other Directorship
: |
Crompton Greaves Limited. |
|
DIN No.: |
00308142 |
|
|
|
|
Name : |
Mr. V. R. Shroff |
|
Designation : |
Executive Director |
KEY EXECUTIVES
|
Name : |
Mr. M. B. Trivedi |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Category of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter
and Promoter Group |
|
|
|
|
|
|
|
|
3758181 |
0.88 |
|
|
123970160 |
28.94 |
|
|
127728341 |
29.82 |
|
|
|
|
|
Total shareholding of Promoter
and Promoter Group (A) |
127728341 |
29.82 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
39402793 |
9.20 |
|
|
184753 |
0.04 |
|
|
3639395 |
0.85 |
|
|
198396550 |
46.32 |
|
|
241623491 |
56.41 |
|
|
|
|
|
|
22547905 |
5.26 |
|
|
|
|
|
|
25554374 |
5.97 |
|
|
5263701 |
1.23 |
|
|
5579342 |
1.30 |
|
|
6740 |
0.00 |
|
|
5449734 |
1.27 |
|
|
122868 |
0.03 |
|
|
58945322 |
13.76 |
|
Total Public shareholding (B) |
300568813 |
70.18 |
|
Total (A)+(B) |
428297154 |
100.00 |
|
(C) Shares held by Custodians and
against which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
307120 |
0.00 |
|
|
307120 |
0.00 |
|
Total (A)+(B)+(C) |
428297154 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Agro Chemicals, Fungicide, Herbicide,
Plant Growth and Regulators. |
|
|
|
|
Products : |
· Agro Chemicals · Fungicide · Herbicide · Plant Growth and Regulators |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
Not Available |
PRODUCTION STATUS:
NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
2560 Employees in India and 3595 Employees Globally. |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
· Dena Bank · Bank Of Baroda · State Bank of India · Union Bank of India · Canara Bank · IDBI Bank Limited · The Karur Vysya Bank Limited · Axis Bank Limited · Andhra Bank · State Bank of Hyderabad · ICICI Bank Limited ·
ING Vysya Bank Limited |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
NOTE a. Outstanding loans carry an interest rate of Base Rate/Libor plus margin ranging from 70 bps to 400 bps b. Outstanding loan is secured by hypothecation of
inventories, bills receivables, book debts and all movables assets of the
Company both present and future, wherever situated. |
|
Auditors : (AS ON 31.03.2014) |
|
|
Name : |
S.V. Ghatalia and Associates LLP Chartered Accountants |
|
|
|
|
Name : |
RA and Company Cost Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
|
|
|
Associates : (AS ON 31.03.2014) |
· Sanguine Holdings Private Limited · Advanta Limited (formerly known as Advanta India Limited) · Tatva Global Enviroment Limited · Advanta Semilas SAIC, Argentina · Tatva Global Environment (Deonar) Limited · Chemisynth (Vapi) Limited · Ultima Search · Kerala Enviro Infrastructure Limited · Uniphos International Limited · Pacific Seeds Pty Limited, Australia · Uniphos Enterprises Limited · Unicorn Seeds Private Limited · UPL Environmental Engineers Limited · Sipcam UPL Brasil S.A. · Vikram Farm |
|
|
|
|
Joint Ventures : (AS ON 31.03.2014) |
· Accolade Properties Private Limited (Upto September 27, 2012) · United Phosphorus (Bangladesh) Limited · Sadafuli Finvest Private Limited (Upto September 27, 2012) |
|
|
|
|
Subsidiaries : (AS ON 31.03.2014) |
· UPL Limited, Mauritius (formerly known as Uniphos Limited) · UPL Investment Private Limited · UPL Colombia S.A.S Agrindustrial, S.A., Spain · UPL Limited Korea (formerly known as United Phosphorus (Korea) Limited) · Agrodan, ApS United Phosphorus (Shanghai) Company Limited · Anning Decco Fine Chemical Co. Limited, China · United Phosphorus (Taiwan) Limited Bio-win Corporation Limited, Mauritius · United Phosphorus Cayman Limited Canegrass LLC, USA · United Phosphorus de Mexico, S.A. de C.V. Cerexagri B.V. - Netherlands · United Phosphorus do Brasil Ltda UPL Costa Rica S.A (formerly known as Cerexagri Costa Rica, S.A.) · United Phosphorus GMBH, Germany Cerexagri Delaware, Inc.,USA · United Phosphorus Holdings B.V., Netherlands Cerexagri Italia S.R.L. · United Phosphorus Holdings Cooperatief U.A. Cerexagri S.A.S., France · United Phosphorus Inc., U.S.A. Cerexagri Ziraat Ve Kimya Sanayi Ve Ticaret Limited Sirketi, Turkey · UPL Australia Limited (formerly known as United Phosphorus Limited) · Cerexagri, Inc. (PA) · United Phosphorus Limited, Belgium S P R L Citrashine (Pty) Limited, South Africa · United Phosphorus Limited, Gibraltar Compania Espanola Industrial Quimica de Productos Agricolas Y Domesticos, S.A.U.,Spain · UPL Limited, Hongkong (formerly known as United Phosphorus Limited) · Decco Iberica Postcosecha, S.A.U., Spain (formerly Cerexagri Iberica) · United Phosphorus Limited, Japan · Decco Italia SRL,Italy · UPL New Zealand Limited (formerly known as United Phosphorus Limited) · Decco US Post-Harvest Inc (US) · United Phosphorus Limited, U.K. · Decco Worldwide Post-Harvest Holdings B.V. · United Phosphorus Polska Sp.z o.o - Poland · Decco Worldwide Post-Harvest Holdings Cooperatief U.A. · United Phosphorus Switzerland Limited · Desarrollo Quimico Industrial, S.A., Spain (DEQUISA S.A.) · United Phosphorus Vietnam Co., Limited · Friedshelf 1114 (Pty) Limited · Global Chem Trade Corp., Panama (Dissolved on January 1, 2013) · Safepack Products Limited, Israel · Icona S A – Argentina · Samrod Chemicals (Pty) Limited · Icona Sanluis S A – Argentina · Shroffs United Chemicals Limited · Jiangsu Kaznam Chemical Group.,Panama (Dissolved on March 18, 2013) · SWAL Corporation Limited · JSC United Phosphorus Limited, · Russia Transterra Invest, S. L. U., Spain · Optima Farm Solutions Limited (acquired during the year) · RiceCo International Inc., Bahamas · Phosfonia, S.L.,Spain UPL Limited, Gibraltar (formerly known as Uniphos Limited) · PT Catur Agrodaya Mandiri, Indonesia · Decco Jefkins Mexico Sapi, Mexico · PT. United Phosphorus Indonesia · UPL Aviation Limited · United Phosphorus Holding, Brasil B.V. · United Phosphorus Industria e Comercio de Produtos Quimicos Ltda. Brazil · RiceCo LLC · Uniphos Indύstria e Comercio de Produtos Quimicos Ltda. Brazil · Upl do brasil Industria e Comercio de Insumos Agropecuarios S.A. · Neo-Fog S.A. (acquired during the year) · DVA Technology Argentina S.A. · JPB Courtage S.A.R.L. (acquired during the year) · United Phosphorous Bolivia S.R.L · AgriChem B.V · Decco Chile SpA · AgriChem Heivelia GmbH. · UPL Agromed Tarim Ilaclari ve Tohumculuk Sanayi ve ticaret A.S. · AgriChem Polska Sp Z.O.O. · UPI Finance LLC · Agricultural Chemicals N.V. · United Phosphorous Corp. Philippines · Aspen Holdings SAS · United Phosphorous Global LLP · Aspen SAS · United Phosphorous (India) LLP · SD Agchem (Netherlands) B.V. · Pro Long Limited · Blue Star BV |
|
|
|
|
Enterprises over
which key management personnel and their relatives have significant
influence: (AS ON 31.03.2014) |
· Bharuch Enviro Infrastructure Limited · Bloom Packaging Private Limited · Bloom Seal Containers Private Limited · Daman Ganga Pulp and Papers Private Limited · Demuric Holdings Private Limited · Enviro Technology Limited · Uniphos Envirotronic Private Limited · Jai Research Foundation · Jai Trust · Nerka Chemicals Private Limited · Pot Plants |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.857.200 Million
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1275000000 |
Equity Shares |
Rs.2/- each |
Rs.2550.000 Million |
|
|
|
|
|
|
14000000 |
Preference Shares |
Rs.100/- each |
Rs.1400.000 Million |
|
|
|
|
|
|
5000000 |
Preference Shares |
Rs.10/- each |
Rs.50.000 Million |
|
|
Total |
|
Rs.4000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
428604274 |
Equity Shares |
Rs.2/- each |
Rs.857.200
Million |
Reconciliation of the
shares outstanding at the beginning and at the end of the reporting period
|
Particulars |
31.03.2014 |
|
|
|
No. Lacs |
Amount in Million |
|
At the beginning of the year |
4,426 |
885.200 |
|
Buy-back during the year |
(140) |
(28.000) |
|
Outstanding at the end of the year |
(140) |
857.200 |
Terms/ rights
attached to equity shares:
The Company has one class of equity shares having par value of Rs. 2 per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividends 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 the 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.
During the year ended 31st March, 2014, the amount of per share dividend recognised as distributions to equity sharehorders was Rs. 4 (31st March, 2013: Rs. 2.50).
Aggregate number of
bonus shares issued, shares issued for consideration other than cash and shares
bought back during the period of five years immediately preceding the reporting
date:
|
Particulars |
31.03.2014 No. Lacs |
|
Equity shares allotted as fully paid bonus shares by capitalization of securities premium |
-- |
|
Equity shares bought back by the Company. |
332 |
Details of
shareholders holding more than 5% shares in the Company
|
Particulars |
31.03.2014 |
|
|
|
No. Lacs |
% Holding |
|
Nerka Chemicals Private Limited |
986 |
23.01 |
|
Uniphos Enterprises Limited |
986 |
5.91 |
As per of the Company, including its register of shareholders/ members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownerships of shares.
BUY-BACK OF SHARES
During the year, the Company has bought back a total of 1,40,00,000 (Previous Year 1,92,00,000) equity shares of Rs.2 each at a total consideration of Rs.2825.800 Million (Previous Year: Rs. 2234.900 Million) (excluding brokerage, taxes and other charges). Accordingly, the face value of shares bought back amounting to Rs. 28.000 Millions (Previous Year: Rs. 38.400 Millions) has been adjusted against share capital and the balance amount of Rs.2797.800 Million (Previous Year: Rs. 2196.400 Million) and related expenses amounting to Rs.14.300 Million (Previous Year: Rs. 10.900 Millions) have been adjusted in securities premium. Further, during the current year in accordance with the notified section 69 of the Companies Act, 2013, the Company has transferred an amount of Rs. 28.000 Million, being a sum equal to nominal value of equity shares bought back, from surplus balance in the statement of profit and loss to capital redemption reserve.
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 |
857.200 |
857.200 |
885.200 |
|
(b) Reserves & Surplus |
34383.600 |
32219.200 |
32691.700 |
|
(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) |
35240.800 |
33076.400 |
33576.900 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
9100.000 |
10600.000 |
14000.000 |
|
(b) Deferred tax liabilities (Net) |
1202.200 |
1173.400 |
909.000 |
|
(c)
Other long term liabilities |
1849.400 |
3067.000 |
2098.100 |
|
(d) Trade payables |
58.500 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
12210.100 |
14840.400 |
17007.100 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short-term borrowings |
3165.900 |
1101.600 |
6381.100 |
|
(b)
Trade payables |
17214.100 |
13711.500 |
9406.600 |
|
(c)
Other current liabilities |
5520.500 |
5734.600 |
2200.500 |
|
(d)
Short-term provisions |
3041.700 |
2360.700 |
1586.800 |
|
Total
Current Liabilities (4) |
28942.200 |
22908.400 |
19575.000 |
|
|
|
|
|
|
TOTAL |
76393.100 |
70825.200 |
70159.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
|
20195.600 |
10829.500 |
8338.800 |
|
(ii)
Intangible Assets |
|
4893.200 |
5166.200 |
|
(iii)
Capital work-in-progress |
0.000 |
991.300 |
2361.500 |
|
(iv) Intangible assets under development |
0.000 |
188.400 |
0.000 |
|
(b) Non-current
Investments |
8727.200 |
6711.500 |
6710.600 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
12176.100 |
13303.000 |
11153.200 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
41098.900 |
36916.900 |
33730.300 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
2329.900 |
|
(b)
Inventories |
11739.700 |
8722.000 |
6205.400 |
|
(c)
Trade receivables |
14225.200 |
14117.900 |
18045.600 |
|
(d)
Cash and cash equivalents |
1247.000 |
1854.000 |
1882.200 |
|
(e)
Short-term loans and advances |
6925.700 |
8142.900 |
7061.400 |
|
(f)
Other current assets |
1156.600 |
1071.500 |
904.200 |
|
Total
Current Assets |
35294.200 |
33908.300 |
36428.700 |
|
|
|
|
|
|
TOTAL |
76393.100 |
70825.200 |
70159.000 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
52262.000 |
49682.700 |
39394.400 |
|
|
|
Other Income |
3492.600 |
3178.400 |
1296.500 |
|
|
|
TOTAL |
55754.600 |
52861.100 |
40690.900 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
24387.600 |
20145.800 |
17133.400 |
|
|
|
Purchases of Stock-in-Trade |
5933.900 |
8021.400 |
4722.600 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(2073.700) |
(1539.900) |
(382.000) |
|
|
|
Employees benefits expense |
3178.000 |
2578.700 |
2374.600 |
|
|
|
Other expenses |
16301.200 |
13807.700 |
11279.300 |
|
|
|
TOTAL |
47727.000 |
43013.700 |
35127.900 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
8027.600 |
9847.400 |
5563.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
352.700 |
2432.900 |
1013.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
7674.900 |
7414.500 |
4549.800 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1867.500 |
1690.900 |
1577.600 |
|
|
|
|
|
|
|
|
|
Less |
EXCEPTIONAL ITEMS |
0.000 |
198.600 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
5807.400 |
5525.000 |
2972.200 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1174.100 |
1367.700 |
890.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
4633.300 |
4157.300 |
2081.300 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Exports of goods calculated on F.O.B. basis |
NA |
27833.700 |
21884.300 |
|
|
|
Interest |
NA |
429.000 |
425.300 |
|
|
|
Dividend |
NA |
1125.000 |
54.400 |
|
|
|
Others |
NA |
24.400 |
7.000 |
|
|
TOTAL EARNINGS |
NA |
29412.100 |
22371.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
11196.200 |
9093.500 |
|
|
|
Traded Goods |
NA |
5149.900 |
2241.000 |
|
|
|
Components and spare parts |
NA |
5.800 |
9.200 |
|
|
|
Capital goods |
NA |
176.500 |
411.400 |
|
|
TOTAL IMPORTS |
NA |
16528.400 |
11755.100 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
10.81 |
9.45 |
4.60 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
2500.000 |
0.000 |
|
|
|
|
|
|
Cash generated from operations |
NA |
12512.900 |
2588.600 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
8.87 |
8.37 |
5.28 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
15.36 |
19.82 |
14.12 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.58 |
8.78 |
4.87 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.17 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.35 |
0.35 |
0.61 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22 |
1.48 |
1.86 |
STOCK
PRICES
|
Face Value |
Rs. 2.00 |
|
|
|
|
Market Value |
Rs. 561.50 |
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 |
885.200 |
857.200 |
857.200 |
|
Reserves & Surplus |
32691.700 |
32219.200 |
34383.600 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
33576.900 |
33076.400 |
35240.800 |
|
|
|
|
|
|
Long-term borrowings |
14000.000 |
10600.000 |
9100.000 |
|
Short term borrowings |
6381.100 |
1101.600 |
3165.900 |
|
Total
borrowings |
20381.100 |
11701.600 |
12265.900 |
|
Debt/Equity
ratio |
0.607 |
0.354 |
0.348 |
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 |
39394.400 |
49682.700 |
52262.000 |
|
|
|
26.116 |
5.192 |
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 |
39394.400 |
49682.700 |
52262.000 |
|
Profit |
2081.300 |
4157.300 |
4633.300 |
|
|
5.28% |
8.37% |
8.87% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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) |
No |
|
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10392596 |
27/08/2012 |
3,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,, BA |
B56987159 |
|
2 |
10314745 |
07/09/2011 |
2,500,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,, BA |
B24019390 |
|
3 |
10261587 |
24/12/2010 |
3,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,, BA |
B03607926 |
|
4 |
10227852 |
21/06/2010 |
3,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,, BA |
A88992797 |
|
5 |
10220148 |
09/04/2010 |
2,500,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,, BA |
A85891174 |
|
6 |
10186793 |
09/11/2009 |
1,350,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,, BA |
A73556698 |
|
7 |
10142689 |
31/12/2008 |
3,700,000,000.00 |
DENA BANK |
CORPORATE BUSINESS BRANCH, C-10, G-BLOCK, BANDRA |
A57003386 |
|
8 |
90099990 |
09/09/2010 * |
16,000,000,000.00 |
DENA BANK |
CORPORATE BUSINESS BRANCH, DENA CORPORATE CENTRE, |
A95586277 |
|
9 |
80002425 |
10/01/2005 |
497,500,000.00 |
RABO INDIA FINANCE PVT LTD |
FORBES BLDG, C R MARG FORT, MUMBAI, MAHARASHTRA - |
- |
|
10 |
90099860 |
19/07/2004 |
2,500,000.00 |
UTI BANK LTD |
UNIVERSAL INSURANCE BUILDING, SIR PM ROAD ;FORT, |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2015 (Rs.
in Million) |
31.03.2014 (Rs.
in Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Unsecured redeemable Non-convertible Debentures |
NA |
11500.000 |
|
Less : Non-convertible Debentures bought back by the company pending
extinguishment |
NA |
(900.000) |
|
|
NA |
|
|
SHORT TERM
BORROWINGS |
NA |
|
|
Cash credit, packing credit and working capital demand
loan accounts from banks |
NA |
979.400 |
|
Buyers credit from banks |
NA |
|
|
Loans from others |
NA |
50.000 |
|
Total |
NA |
11629.400 |
|
NOTE
LONG
TERM BORROWINGS Unsecured Redeemable Non-Convertible
Debentures · NCDs amounting to Rs. 30,00.000 Million (Previous Year: Rs. 30,00.000 Million) have been issued under two series and are redeemable at par at the end of 10th year Rs. 15,00.000 Million i.e June, 2022 and 7th year Rs. 15,00.000 Million i.e June, 2019 from the date of allotment. Out of the above, NCDs amounting to Rs. 9,00.000 Million have been bought back by the Company. · NCDs amounting to Rs. 25,00.000 Million (Previous Year: Rs 25,00.000 Million) are redeemable at par at the end of 15th year i.e July 2026 from the date of allotment . The NCDs carry a call option at the end of 10th year from the date of allotment. · NCDs aggregating to Rs. 30,00.000 Million (Previous Year: Rs 30,00.000 Million) have been issued under four series and are redeemable at par of Rs 7,50.000 Million each at the end of 12th year, 11th year, 9th year and 8th year i.e. October 2022, October 2021, October 2019 and October 2018 respectively from the date of allotment. · NCDs aggregating to Rs. 30,00.000 Million (Previous Year: Rs. 30,00.000 Million) have been issued in two series and are redeemable at par at the end of 10th year Rs. 15,00.000 Million i.e. April 2020 and 7th year Rs. 15,00.000 Million i.e. April 2017 from the date of allotment. · The NCDs carry a call option at the end of 6th year i.e. April 2016 and 5th year i.e. April 2015 respectively from the date of allotment. · NCDs amounting to Rs. 25,00.000 Million (Previous Year: Rs 25,00.000 Million ) are redeemable at par at the end of 5th year i.e January, 2015 from the date of allotment. ·
NCDs mentioned above carry a coupon rate
ranging from 9.50% to 10.70%. SHORT
TERM BORROWINGS · Short term buyers credit outstanding Rs. Nil (Previous Year: Rs. 38,84.100 Million) were unsecured and carried an interest rate ranging from Libor plus 60 bps to 120 bps. ·
Unsecured short term demand loan carrying an
interest rate of 12.50% p.a. |
||
CORPORATE INFORMATION
(AS ON 31.03.2014)
Subject (formerly known as United Phosphorus Limited (the Company)) is a public Company domiciled in India and incorporated under the provisions of the Companies Act, 1956. Its shares are listed on two stock exchanges in India. The Company is engaged in the business of agrochemicals, industrial chemicals, chemical intermediates and speciality chemicals.
CHANGE OF NAME OF THE COMPANY (AS ON 31.03.2014)
During the year the name of the Company has
been changed from ‘United Phosphorus
Limited’ to ‘UPL Limited’ vide Special Resolution passed at the Extra-ordinary
General Meeting of the members of the Company held on 30th September, 2013 and
consequently Fresh Certificate of Incorporation dated 11th October, 2013 has
been issued by the Registrar of Companies, Gujarat.
OPERATIONAL PERFORMANCE (AS ON 31.03.2014)
During the year, there was significant
improvement in business conditions due to bountiful and widespread monsoon. In
the initial part of the year the crop prices remained stronger. However due to good
harvests, the prices softened subsequently. There was a very strong volume
growth in all the regions. In India, higher yields were expected from Rice,
Cotton, Wheat, Pulses, Potato etc. The Company launched two new products,
namely Ulala and Atabron which performed very well. The Company continues to focus on some of the
power brands such as Lancer Gold, Starthene Power, Saathi, Saaf and Phoskill.
Due to favourable monsoon, the Company was in a position to offset part of the
increase in the costs of inputs to the customers.
On the global front, the Latin American
market, including Brazil, improved significantly. Brazil continued to be on
strong growth curve with additional cultivation area for Soyabean. In other countries
also, Soyabean and cotton cultivation areas increased due to higher commodity
prices. In Europe, there were prolonged winters and late spring, adversely
affecting sale of herbicides. The sale
of fungicides increased. Some CIS countries like Ukraine is facing political
crisis resulting into disruption of business in these areas. Australia
witnessed third continuous year of drought. However, the conditions seem to be
improving now. The Company is also making inroads into African markets. Once it
gets more registrations, the Company will get higher access to these markets.
In North America, the market was significantly impacted due to late spring and
drought in western region. The herbicide sales have improved, especially, for
rice crops. The Company has introduced Metribuzin, a herbicide with great
potential in US market.
US Dollar appreciated against various
currencies. Even Euro and pound sterling
appreciated. Currencies of some of the countries like Brazil depreciated.
It is indeed a significant achievement for
the Company as it crossed magical figure of 10,000.000 Million of global sales,
during the year. The management wants to express and share their happiness with
all the stake holders of the Company. It is also significant to note that the sales
are balanced over different regions of the world equitably. This ensures that
there is no over dependence on any particular region for sales.
The year has ended on a highly satisfactory
note. Some of the highlights of global performance are as under:
a) Revenue from operations have increased
by 17% to 109020.000 Million.
b) EBIDTA has gone up to 22%
c) Profit before taxes has gone up by 23%
to 11570.000 Million
d) Profit for the year has gone up by 23%
to 9500.000 Million
ACQUISITIONS/
DISINVESTMENT (AS ON 31.03.2014)
During the year, the Company, through its step down wholly owned subsidiary has acquired further shares out of the fresh issue of shares issued by UPL do Brasil and accordingly increased its stake in UPL do Brasil from 51% to 73%. The balance 27% are held by other existing shareholders.
UPL do Brasil is engaged in the production, marketing, selling and distribution of crop protection products and specialties in the Brazilian agrochemicals market. It has a formulation plant in Brazil with expansion plans currently under execution to build capabilities in different crop protection product categories.
The Company through its overseas subsidiary has entered into an agreement with an Italian company Sipcam S.p.A (Sipcam), to sell its entire stake of 50% in the Brazilian agrochemical company Sipcam UPL Brasil S.A, subject to
fulfillment of certain conditions and approvals. The gross consideration amount of the transaction is US$58.50 million (Approximately INR 3.51 billion). Sipcam is the current 50% joint venture partner with UPL in Sipcam UPL Brasil S.A. This will be the first major divestment by UPL and the entire process is expected to be completed by June 2014, subject to necessary approvals.
This divestment will release the funds to the Company which will be available for new opportunities and meet growing business requirements. It will also help UPL to have more focused approach for Brazilian agrochemical market which is one of the largest agrochemicals market in the world.
CONTINGENT
LIABILITIES
|
Particulars |
31.03.2014 (Rs.
In Million) |
31.03.2014 (Rs.
In Million) |
|
(a) Disputed Income-Tax Liability (excluding interest) |
NA |
114.300 |
|
(b) Disputed Excise Duty / Service Tax liability
(excluding interest) |
NA |
1275.400 |
|
(c) Disputed Sales Tax liability |
NA |
286.900 |
|
(d) Disputed Custom Duty liability |
NA |
355.800 |
|
(e) Disputed Fiscal Penalty for cancellation of licences |
NA |
334.800 |
|
(f) Disputed penalty levied by Competition Commission of India
for Cartelization of Prices |
NA |
2524.400 |
|
(g) Disputed penalty on Water Tax |
NA |
16.100 |
|
(h) Bills discounted under Letter of Credit and remaining
unpaid at the date of the balance sheet |
NA |
20.700 |
|
(i) Corporate guarantees given on behalf of subsidiary
companies: |
NA |
|
|
(i) United Phosphorus Limited, U.K. |
NA |
2177.200 |
|
(ii) United Phosphorus Limited, Hong Kong |
NA |
509.300 |
|
(iii) United Phosphorus Inc. USA |
NA |
732.500 |
|
(iv) United Phosphorus Inc. USA/ Decco US Post Harvest |
NA |
149.800 |
|
(v) UPL Columbia SAS |
NA |
0.000 |
|
(vi) United Phosphorus Limited, Australia |
NA |
539.200 |
|
(vii) Bio-Win Corporation Limited, Mauritius |
NA |
20482.800 |
|
(viii) Cerexagri Italia, SRL, Italy |
NA |
1357.600 |
|
(ix) Ceraxagri SAS., France |
NA |
1810.200 |
|
(x) Ceraxagri B.V., Netherlands |
NA |
1892.500 |
|
(xi) Icona S.A. Argentina |
NA |
1198.300 |
|
(xii) United Phosphorus Cayman Limited, Cayman Islands |
NA |
898.700 |
|
(xiii) Advanta India Limited |
NA |
2995.800 |
|
(j) Claims against the Company not acknowledged as debts |
NA |
50.200 |
FIXED ASSETS (AS ON 31.03.2014)
· Land- Freehold
· Land-Leasehold
· Building
· Plant and Machinery
· Laboratory Equipments
· Office Equipments
· Furniture, Fixture and Equipments
· Vehicles
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 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. 63.60 |
|
|
1 |
Rs. 100.09 |
|
Euro |
1 |
Rs. 71.23 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
72 |
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.