MIRA INFORM REPORT
|
Report No. : |
321505 |
|
Report Date : |
09.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
AMBUJA CEMENTS
LIMITED |
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|
|
|
Registered
Office : |
P.O. Ambija Nagar, Talika Kodinar, Amreli District, Junagadh – 362715,
Gujarat |
|
Tel No : |
91-2795-237000 |
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|
Country : |
India |
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Financials (as
on) : |
31.12.2014 |
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Date of
Incorporation : |
20.10.1981 |
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Com. Reg. No.: |
04-004717 |
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Capital
Investment / Paid-up Capital : |
Rs. 3099.500 Million |
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CIN No.: [Company Identification
No.] |
L26942GJ1981PLC004717 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturer and Exporter of Cement |
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No. of Employees
: |
5000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (78) |
|
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 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Matter converted to SCA/5079/2011 |
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Comments : |
Subject is a well-established and reputed company having excellent
track. It is among the most efficient cement players in the country. The
company’s products are well received in the market. It has strong market
position in western and northern India where it had market share of around
24percent and 15percent respectively. Fundamentals are strong and healthy. The company has reported another good financial year performance where
it has decent profit margin. The company has healthy financial risk profile marked
by healthy net worth, low gearing and comfortable liquidity position. Trade relations are fair. Business is active. Payment terms are
reported to be regular and as per commitments. In the view of aforesaid, subject can be considered good 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating AAA |
|
Rating Explanation |
Highest degree f safety and carry lowest credit risk. |
|
Date |
January 07, 2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
January 07, 2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Mahesh Kumar Khandelwal |
|
Designation : |
General manager Finance |
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Contact No.: |
91-22-40667000 |
|
Date : |
07.05.2015 |
LOCATIONS
|
Registered Office/Factory : |
P.O. Ambija Nagar, Talika Kodinar, Amreli District, Junagadh – 362715,
Gujarat |
|
Tel. No.: |
91-2795-237000 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Head Office: |
Elegant Business Park, Behind Kotak Mahindra Bank, MIDC Cross Road ‘B’, Off Andheri - Kurla Road, Andheri (East), Mumbai 400 059. Maharashtra, India |
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Tel No.: |
91-22-66167000 / 40667000 |
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Web site.: |
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Corporate Office : |
Elegant Business Park, MIDC Cross Road “B”, Off Andheri – Kurla Road,
Andheri (East), Mumbai – 400059, Maharashtra, India |
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Plant : |
Located at:
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Grinding Stations: |
Located at:
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Bulk Cement
Terminals: |
Located at:
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DIRECTORS
As on : 31.12.2014
|
Name : |
Mr. N.S. Sekhsaria |
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Designation : |
Director / Chairman |
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Name : |
Mr. Bernard Terver |
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Designation : |
Vice Chairman / Director |
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|
Name : |
Mr. Nasser Munje |
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Designation : |
Director |
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|
Name : |
Mr. Rajendra P. Chitale |
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Designation : |
Director |
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|
Name : |
Mr. Shailesh Haribhakti |
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Designation : |
Director |
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|
Name : |
Dr. Omkar Goswami |
|
Designation : |
Director |
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|
Name : |
Mr. Haigreve Khaitan |
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Designation : |
Director |
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Name : |
Ms. Usha Sangwan (w.e.f. 24.04.2014) |
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Designation : |
Director |
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Date of Birth: |
01.10.1958 |
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Qualification: |
Master’s Degree in Economics and a Post Graduate Diploma in Human Resource Management. |
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Date of Appointment: |
24.04.2014 |
|
|
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|
Name : |
Mr. B.L. Taparia |
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Designation : |
Director |
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Date of Birth: |
05.07.1950 |
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Qualification: |
B.com, LL.B., F.C.S. |
|
Date of Appointment: |
01.09.2012 |
|
|
|
|
Name : |
Mr. Ajay Raparia |
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Designation : |
Managing Director and Chief Executive Officer (w.e.f 25th
April, 2014) |
KEY EXECUTIVES
|
Name : |
Mr. Suresh Neotia |
|
Designation : |
Chairman Emeritus |
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|
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|
Name : |
Mr. Ajay Kapur |
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Designation : |
Managing Director / Chief Executive Officer |
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Date of Birth: |
11.11.1965 |
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Qualification: |
Bachelors in Economics, MBA in Marketing Advanced Management Programme, Wharton Business School |
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Date of Appointment: |
25.07.2013 |
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Tel No.: |
91-22-40667000 |
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DIN No.: |
03096416 |
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E-mail Id.: |
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Name : |
Mr. Sanjeev Churiwala |
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Designation : |
Chief Financial Officer |
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Name : |
Mr. Vilas Deshmukh |
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Designation : |
Chief Manufacturing Officer |
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Name : |
Mr. Sanjay Gupta |
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Designation : |
Chief marketing Officer |
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Name : |
Mr. Vivek Agnihotri |
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Designation : |
Chief Corporate Services |
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Name : |
Ms. Meenakshi Narain |
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Designation : |
Chief HR Officer |
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Name : |
Mr. Henning Sasse |
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Designation : |
Head of Techport |
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Name : |
Mr. Ranjan Sachdeva |
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Designation : |
Chief Central Procurement Officer |
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Name : |
Mr. Rajiv Gandhi |
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Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 31.03.2015
|
As a % of (A+B+C) |
||
|
(A) Shareholding of Promoter and Promoter Group |
||
|
|
|
|
|
|
|
|
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|
780308553 |
50.34 |
|
|
780308553 |
50.34 |
|
Total shareholding of Promoter and Promoter Group (A) |
780308553 |
50.34 |
|
(B) Public Shareholding |
||
|
|
|
|
|
|
12989826 |
0.84 |
|
|
1491937 |
0.10 |
|
|
134227728 |
8.66 |
|
|
425224581 |
27.43 |
|
|
46088241 |
2.97 |
|
|
46088241 |
2.97 |
|
|
620022313 |
40.00 |
|
|
|
|
|
|
5496157 |
0.35 |
|
|
|
|
|
|
87533361 |
5.65 |
|
|
9322649 |
0.60 |
|
|
15159910 |
0.98 |
|
|
13740196 |
0.89 |
|
|
1402994 |
0.09 |
|
|
12870 |
0.00 |
|
|
3850 |
0.00 |
|
|
117512077 |
7.58 |
|
Total Public shareholding (B) |
737534390 |
47.58 |
|
Total (A)+(B) |
1517842943 |
97.93 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
32145143 |
2.07 |
|
|
32145143 |
2.07 |
|
Total (A)+(B)+(C) |
1549988086 |
100.00 |
Shareholding of
securities (including shares, warrants, convertible securities) of persons
belonging to the category Promoter and Promoter Group
|
Sr. |
Nam Name of The
shareholder |
D Detail of share
heldad |
|
|
N No. of share
heldheld |
A As a % of grand
total (A)+(B)(A)+(B)+(C) |
||
|
1 |
Holderind Investments Ltd |
62,96,38,433 |
40.62 |
|
2 |
Holcim India Pvt Ltd |
15,06,70,120 |
9.72 |
|
|
Total |
78,03,08,553 |
50.34 |
Shareholding of
securities (including shares, warrants, convertible securities) of persons
belonging to the category Public and holding more than 1% of the total number
of shares
|
SlSr.No. |
Nam Name of The
shareholder Name of the Shareholder |
No. of share heldheld.
of Shares held |
Shares as % of Total No. of
shares hares as % of TotalShares |
|
|
1 |
Life Insurance Corporation of India |
98903537 |
6.38 |
|
|
2 |
Oppenheimer Developing Markets Fund |
44125515 |
2.85 |
|
|
3 |
Aberdeen Global Indian Equity Mauritius |
49849182 |
3.22 |
|
|
4 |
Genesis Indian Investment Company Ltd |
24559008 |
1.58 |
|
|
|
Total |
217437242 |
14.03 |
Shareholding of
securities (including shares, warrants, convertible securities) of persons (together
with PAC) belonging to the category “Public” and holding more than 5% of the
total number of shares of the company
|
Sr. No. |
Name of the Shareholders and
the person Acting in concert (PAC) with themConcert
(PAC) with them |
No. of share. of
Shares |
Shares as % of Total No. of shares ares as % of Total No |
|
|
1 |
Life Insurance Corporation Of India |
98903537 |
6.38 |
|
|
|
Total |
98903537 |
6.38 |
Details of Depository
Receipts (DRs)
|
Sr..
No. |
Type of outstanding
DR (ADRs) GDRs, SDRs, etc..) |
No. of
Outstanding DRs. of Outstanding DRs |
Shareholder underlying
Outstanding DRs as % of Total No. of Shares ar |
|
1 |
GDR |
3,21,45,143 |
2.07 |
|
|
Total |
3,21,45,143 |
2.07 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Cement |
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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 : |
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Products : |
Cement |
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Countries : |
Srilanka |
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Imports : |
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Products : |
Coal Spare part |
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Countries : |
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Terms : |
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Selling : |
Cheque and Credit |
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Purchasing : |
Cheque and Credit |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
5000 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
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Auditors : |
|
|
Name : |
SRBC and Company LLP (Statutory Auditor) Chartered Accountant |
|
Address : |
14TH Floor, The Ruby 29 Senapati Bapat Marg, Dadar (West),
Mumbai – 400028, Maharashtra, India |
|
Tel. No.: |
91-22-61920000 |
|
Fax No.: |
91-22-619210000 |
|
|
|
|
Auditors : |
P.M. Nanabhoy and Company (Cost
Auditor) Chartered Accountants |
|
|
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Holding Company : |
(CIN No.” U26943DL2002PTC116851) |
|
|
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Ultimate Holding Company: |
Holcim Limited, Switzerland |
|
|
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Intermediate Holding Company: |
Holderfin BV, Netherlands |
|
|
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Subsidiary Company: |
(CIN No.U26942GJ1997PLC062008)
(CIN No.:U26943GJ1990PTC061530)
(CIN No.:U14107GJ2007PTC061529)
|
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|
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Fellow Subsidiary Company: |
|
|
|
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|
Joint Venture : |
(CIN No.:U70200GA1996PTC002240)
|
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Joint Venture of fellow subsidiary : |
Siam City Cement Public Company Limited, Thailand |
|
|
|
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Memberships : |
Not Available |
|
|
|
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Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on : 31.12.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000000 |
Equity Shares |
Rs.2/- each |
Rs. 5000.000 Million |
|
150000000 |
Preference shares |
Rs.2/- each |
Rs. 300.000 Million |
|
|
TOTAL |
|
Rs. 5300.000
Million |
Issued
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1550072306 |
Equity Shares |
Rs.2/- each |
Rs. 3100.147
Million |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1549745786 |
Equity shares |
Rs.2/- each |
Rs. 3099.491
Million |
|
|
|
|
|
a) Reconciliation of equity shares outstanding
|
|
As at 31.12.2014 |
|
|
|
No. of shares |
Rs. in Million |
|
At the beginning of the year |
1,545,860,286 |
3091.700 |
|
Add : Issued against Employee Stock Option Schemes (ESOS) |
3,885,500 |
7.800 |
|
At the end of the year |
1,549,745,786 |
3099.500 |
b) Rights, preferences and restrictions
attached to equity shares
The Company has only one class of equity shares having a par value of ` 2 per share. Each shareholder is entitled to one vote per equity share. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation of the Company, the equity shareholders are eligible to receive remaining assets of the Company, after distribution of all preferential amounts, in proportion to their shareholding.
c) Equity shares held by holding company,
ultimate holding company and their subsidiaries
|
|
As at 31.12.2014 |
|
|
Rs. in Million |
|
i) Holderind Investments Limited, Mauritius (HIL), the holding company (Refer note 48) 629,638,433 (previous year - 629,638,433) Equity shares of ` 2 each fully paid-up. |
1259.300 |
|
ii) Holcim (India) Private Limited (HIPL), a fellow subsidiary (Refer note 48) 150,670,120 (previous year - 150,670,120) Equity shares of ` 2 each fully paid-up |
301.300 |
|
|
|
d) Details of equity shares held by
shareholders holding more than 5% shares in the Company
|
|
As at 31.12.2014 |
|
|
|
No. of Shares |
% holding |
|
Holderind Investments Limited, Mauritius (Refer note 48) |
629,638,433 |
40.63% |
|
Holcim (India) Private Limited (Refer note 48). |
150,670,120 |
9.72% |
|
Life Insurance Corporation of India |
100,206,061 |
6.47% |
As per the of the Company, including its register of shareholders / members and other declarations received from shareholders regarding beneficial interest, the above shareholding represent both legal and beneficial ownership of shares.
e) Outstanding employee stock options exercisable into 2,344,400 (previous year - 6,381,625) equity shares of ` 2 each fully paid-up
f) Outstanding tradable warrants and right shares kept in abeyance exercisable into 186,690 (previous year - 186,690) and 139,830 (previous year - 139,830) equity shares of ` 2 each fully paid-up respectively.
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
3099.500 |
3091.700 |
3084.400 |
|
(b) Reserves & Surplus |
97933.800 |
91763.700 |
84966.200 |
|
(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) |
101033.300 |
94855.400 |
88050.600 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
190.900 |
291.500 |
346.300 |
|
(b) Deferred tax liabilities
(Net) |
5890.400 |
5643.200 |
5482.500 |
|
(c) Other long term
liabilities |
92.200 |
175.800 |
49.100 |
|
(d) long-term provisions |
325.700 |
248.000 |
208.900 |
|
Total
Non-current Liabilities (3) |
6499.200 |
6358.500 |
6086.800 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
6184.900 |
5572.800 |
9345.400 |
|
(c) Other current liabilities |
13528.900 |
13224.900 |
6558.700 |
|
(d) Short-term provisions |
11762.200 |
9634.300 |
13089.300 |
|
Total
Current Liabilities (4) |
31476.000 |
28432.000 |
28993.400 |
|
|
|
|
|
|
TOTAL |
139008.500 |
129645.900 |
123130.800 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
62267.800 |
60621.600 |
58619.300 |
|
(ii) Intangible Assets |
3.300 |
3.700 |
4.400 |
|
(iii) Capital work-in-progress |
6901.700 |
6948.800 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
5201.200 |
|
(b) Non-current Investments |
1057.300 |
1045.100 |
1120.100 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
5933.200 |
3205.500 |
2872.700 |
|
(e) Other Non-current assets |
2893.100 |
2450.800 |
2549.100 |
|
Total
Non-Current Assets |
79056.400 |
74275.500 |
70366.800 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
20670.000 |
16839.400 |
15438.300 |
|
(b) Inventories |
8883.900 |
9339.400 |
9839.300 |
|
(c) Trade receivables |
2279.800 |
2315.100 |
2133.700 |
|
(d) Cash and cash equivalents |
24581.200 |
23410.900 |
22537.200 |
|
(e) Short-term loans and
advances |
3083.200 |
2894.100 |
2489.800 |
|
(f) Other current assets |
454.000 |
571.500 |
325.700 |
|
Total
Current Assets |
59952.100 |
55370.400 |
52764.000 |
|
|
|
|
|
|
TOTAL |
139008.500 |
129645.900 |
123130.800 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
99781.200 |
91742.600 |
97303.000 |
|
|
Other Income |
4289.800 |
3775.100 |
3488.700 |
|
|
TOTAL
(A) |
104071.000 |
95517.700 |
100791.700 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
7942.900 |
6893.700 |
6717.600 |
|
|
Purchases of Stock-in-Trade |
405.900 |
7.100 |
0.000 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
159.100 |
1183.300 |
(2008.300) |
|
|
Power and Fuel |
22652.200 |
20629.200 |
23290.700 |
|
|
Freight and forwarding
expenses |
24388.900 |
22877.300 |
22758.500 |
|
|
Self Consumption of cement (net
of excise duty Rs. 9.900 Million previous year Rs. 8.300 Million) |
(80.400) |
(69.300) |
(67.100) |
|
|
Exceptional items-profit on
sale of residential flats |
0.000 |
(248.200) |
2791.300 |
|
|
Employees benefits expense |
5815.800 |
5021.700 |
4785.100 |
|
|
Other expenses |
19212.400 |
18530.200 |
17096.800 |
|
|
TOTAL
(B) |
80496.800 |
74825.000 |
75364.600 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
23574.200 |
20692.700 |
25427.100 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
644.800 |
650.800 |
756.600 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
22929.400 |
20041.900 |
24670.500 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
5095.300 |
4900.700 |
5652.200 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
17834.100 |
15141.200 |
19018.300 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
2870.500 |
2195.500 |
6047.700 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
14963.600 |
12945.700 |
12970.600 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
441.200 |
542.800 |
232.700 |
|
|
Royalty, professional Consultation
Fees |
12.400 |
4.800 |
1.900 |
|
|
Interest |
0.000 |
0.100 |
0.000 |
|
|
Others |
49.800 |
37.700 |
94.800 |
|
|
TOTAL
EARNINGS |
503.400 |
585.400 |
329.400 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
504.200 |
231.900 |
389.800 |
|
|
Components and Stores parts |
453.400 |
381.600 |
497.900 |
|
|
Fuels |
3736.300 |
3409.400 |
4859.600 |
|
|
Packing material |
0.000 |
0.000 |
26.000 |
|
|
Capital Goods |
717.100 |
1112.900 |
373.100 |
|
|
TOTAL
IMPORTS |
5411.000 |
5135.800 |
6146.400 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
9.67 |
8.39 |
8.43 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
15.00 |
14.11 |
13.33 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
23.63 |
22.56 |
26.13 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.61 |
12.45 |
16.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.16 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.90 |
1.95 |
1.82 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
3084.400 |
3091.700 |
3099.500 |
|
Reserves & Surplus |
84966.200 |
91763.700 |
97933.800 |
|
Net worth |
88050.600 |
94855.400 |
101033.300 |
|
|
|
|
|
|
long-term borrowings |
346.300 |
291.500 |
190.900 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
346.300 |
291.500 |
190.900 |
|
Debt/Equity
ratio |
0.004 |
0.003 |
0.002 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
97303.000 |
91742.600 |
99781.200 |
|
|
|
(5.715) |
8.762 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
97303.000 |
91742.600 |
99781.200 |
|
Profit |
12970.600 |
12945.700 |
14963.600 |
|
|
13.33% |
14.11% |
15.00% |
CURRENT MATURITIES
OF LONG TERM DEBT IS = NOT AVAILABLE
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 |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
------ |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Sales tax deferment loan |
132.300 |
232.900 |
|
Total |
132.300 |
232.900 |
|
Note: Sales tax deferment loan is interest free and payable in 10 annual installments starting from April 2007 to April 2016 of varying amounts from ` 15.200 Million to 132.300 Million. |
||
FINACIAL RESULTS:
AT A GLANCE
Cement production increased
by 2% to reach 21.430 Million tonnes., from 20.960 Million tonnes while clinker
production increased to 14.840 Million tonnes, 4% up from 14.270 Million tonnes
in years 2013.
Domestic cement
sales volume recorded increase of 3% at 21.46 Million tonnes from 20.94 Million
tonnes in year 2013. Cement exports decreased to 0.08 Million tonnes from 0.10
Million tonnes in year 2013. Clinker sales (including exports) were up at 0.61
Million tonnes from 0.56 Million tonnes in 2013.
Net sales at Rs.
99110.000 Million were 9% up than that of previous years Rs. 90790.000 Million.
Average sales realization increased by around 7% at Rs. 4,475 per tonne against
approx. Rs. 4,208 per tonne in 2013.
Total (operating)
expenses for the year 2014 increased by 7% over that of year 2013..
The company
achieved an absolute EBITDA of RS. 19280.000 Million. This is higher by 16%
over the corresponding Rs. 16670.000 Million of the year 2013.
Profit before tax
at 17830.000 was up by 18% over corresponding figure of Rs. 15140.000 Million
for the year 2013.
Net profit at Rs.
14960.000 Million was up by 16% over corresponding figure of Rs. 12950.000
Million for the year 2013.
PROJECT:
The Company has
participated in the e-auction of coal block conducted by the nominated authority
of the Ministry of Coal, Government of India and has successfully secured a
coal block at Gare-Palma Sector-IV/8 in the state of Chhattisgarh.
The capex for the
development of this coal block is expected to be approx. Rs. 3700.000 Million
and the mining operation is expected to commence in the year 2018.
OUTLOOK:
Emphasis on
housing and infrastructure development by the Government is likely to push
cement demand in the coming quarters, The company will continue to focus on
further improving performance.
MANAGEMENT DISCUSSION
AND ANALYSIS
INDIAN ECONOMY
Slowing growth, rising inflation and the depreciating rupee marked the onset of 2013 setting in motion a challenging year for the Indian economy. Growth rate continued to slide despite attempts by the government to stem the tide with a host of traditional and innovative measures. Efforts were further constrained due to global headwinds.
To boost investor confidence, the Cabinet Committee on Investments approved infrastructure projects entailing huge investments.
However, given the weak start, we expect that real GDP growth would average at 4.5-5% in 2013-14.
FLAT GROWTH FOR
CEMENT INDUSTRY
The cement industry witnessed flat growth in 2013 due to several reasons - a prolonged monsoon that extended until the festive season, natural calamities (floods and cyclone) that hit many parts of India and low demand due to financial crunch and slowdown in realty and infrastructure sectors.
In the first half of 2013, industry demand was slow due to fall in construction activity and a virtual halt in government spending. During the second half, the early arrival of the monsoon compared with the previous year did not augur well.
The cement industry also faced rising costs, high interest rates, land acquisition and clearance issues. An overall weak macro environment and ban on sand mining continued to worry the industry.
Increase in freight rates for several commodities has had a cascading impact on the cement industry. An increase in freight rates for coal and cement drove up transportation cost as well as the landed cost of imported goods. Moreover, the rupee’s weakness against the U.S. dollar and other global currencies prevented India from taking advantage of the decline in commodity prices in the world market.
Over the past few years, the cement industry witnessed huge capacity addition (almost 90 million tones on the available supply basis), which substantially increased the gap between demand and supply and consequently lowered capacity utilization.
We expect demand to gradually revive over 2014 and 2015 with a new government and recovery in construction activity.
OUT LOOK
TANGIBLE POLICY ACTIONS TO FACILITATE
ECONOMIC GROWTH
The bigger picture is looking favorable. To facilitate rapid economic growth, it will be necessary to see big ticket structural reforms, faster approvals on the supply side, with major support of fiscal and monetary policy on the demand side. After nine months plus of the new government in the Centre, tangible policy actions are required to facilitate. Investment and sustained growth.
Medium to long-term economic growth depends on ensuring macroeconomic stability and on creating an enabling environment for the private sector to invest. Fundamentally, India's medium-term growth prospects looks to be promising, and a medium-term trend rate of growth of about 7% to 8% should be within reach in view of favorable tailwinds, both domestic and external, supported by active policy push in all three areas of good governance, fiscal an - monetary management. Despite headwinds of a global slowdown in some parts. of the world, India has the ability to grow faster and be a leading growth engine in the near to medium-term.
AWARDS AND ACCOLADES
· ACF Darlaghat bags NABARD's Best Partnership Award.
· Ambuja bags CII-ITC Sustainability Award- 2014.
· Roorkee Grinding Unit has been awarded with the 'CERTIFICATE of MERIT' for 'Energy Conservation in Cement Sector for the year 2013'.
· Ambuja Cement Foundation - Chirawa has won the UNESCO supported Water Digest Water Award 2013-14.
· Ambuja Cement- bags Bronze at the Flame Awards 2013 for Rural Marketing Initiative.
· Ambuja Cement bagged the 1st runner up award at the ASSOCHAM CSR Excellence award during the 6th Global Corporate Social Responsibility Summit held in Delhi.
· ACES Rabriyawas Unit won the 14th Annual Greentech Environment award in the Gold Category.
· Greentech Environmental Excellence Gold Award 2013.
· Ambuja Cements - Rabriyawas Plant won Productivity Excellence Award 2011-12, presented by ~Rajasthan’ state Productivity Council.
· Ambuja Cement Foundation - Bathinda won the NABARD 'Partnership Excellence Award' in the category of 'Improving productivity of crops'.
Contingent liabilities and commitments (to
the extent not provided for)
|
|
As at 31.12.2014 |
|
Contingent
liabilities and Claims against the Company not acknowledged as debts related
to |
Rs. in Million |
|
Labour |
207.400 |
|
and |
588.600 |
|
Royalty on Limestone |
1199.700 |
|
Sales tax |
2662.700 |
|
Excise and Customs |
679.400 |
|
Demand from Competition Commission of India |
11639.100 |
|
Others |
1402.400 |
In respect of items above, future cash outflows are determinable only on receipt of judgements
/ decisions pending at various forums / authorities.
1 Royalty on limestone represents additional royalty, consequent to the order passed by Madhya Pradesh State Mining Department, based on the ratio of 1.6 tonnes of limestone to 1 tonne of cement produced at its factory in Chhattisgarh. The Company holds the view that the payment of royalty on limestone is correctly made based on the actual quantity of limestone extracted from the mining area. The matter is pending before the Hon’ble High Court of Bilaspur.
2 Includes a matter relating to 75% exemption from sales tax granted by Government of Rajasthan (GOR). However, the eligibility of exemption in excess of 25% was contested by the State Government in a similar matter of another Company. In the current year, pursuant to the unfavourable decision of the Supreme Court in that similar matter, the sales tax department has initiated proceedings for recovery of differential sales tax and interest thereon on the ground that the Company had given an undertaking to deposit the differential amount of sales tax, in case the Supreme Court’s decision goes against the matter referred above. Against the total demand of ` 247.97 crores (including interest of ` 134.45 crores), the Company has deposited an amount of ` 123.52 crores towards sales tax under protest and filed a Special Leave Petition in the Supreme Court with one of the grounds that the tax exemption was availed by virtue of the order passed by the Board for Industrial & Financial Reconstruction (BIFR) during the relevant period. Subsequent to the balance sheet date, on Company’s petition, the Hon’ble Supreme Court has granted an interim stay on interest, subject to deposit of ` 20 crores. Based on the advice of external legal counsel, the Company believes that, it has good grounds for a successful appeal. Accordingly, no provision is considered necessary.
3 The Competition Commission of India issued an Order dated 20th June, 2012, imposing penalty on certain cement manufacturers, including the Company, concerning alleged contravention of the provisions of the Competition Act, 2002 and imposed a penalty of ` 1163.91 crores on the Company. The Company had filed an appeal against the said Order with the Competition Appellate Tribunal (COMPAT). Pending final disposal of the appeal, the Hon’ble Tribunal, vide its order dated 17th May, 2013, has stayed the penalty with a condition to deposit 10% of the penalty amount, which has been deposited in the form of bank fixed deposit with lien in favour of COMPAT. The fixed deposit has been renewed along with interest of ` 14.71 crores. Based on the advice of external legal counsel, the Company believes that it has good grounds for
a successful appeal. Accordingly, no provision is considered necessary.
INDEX OF CHARGES
|
.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90209304 |
16/06/2003 |
10,000,000.00 |
STANDARD CHARTERED BANK |
19; N. S. ROAD, CALCUTTA, West Bengal - 700001, INDIA |
- |
|
2 |
90205358 |
02/06/1998 |
150,000,000.00 |
UTI BANK LTD. |
7/1; LORD SINHA ROAD, CALCUTTA, West Bengal - 700071, INDIA |
- |
|
3 |
90202636 |
22/04/1993 * |
105,000,000.00 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA |
IDBI TOWER; CUFFE PARADE, COLABA, BOMBAY, Maharashtra - 400005, INDIA |
- |
|
4 |
90202597 |
22/04/1993 * |
34,076,000.00 |
THE INDUSTRIAL CREDIT & INVESTMENT CORPN. OF INDIA |
163; BACKBAY RECLAMATION, BOMBAY, Maharashtra - 400021, INDIA |
- |
|
5 |
90201517 |
20/03/1989 |
7,000,000.00 |
HOUSING DEVELOPMENT FINANCE CORPN. LTD. |
RAMON HOUSE, 169; BACKBAY RECLAMATION, BOMBAY, Maharashtra - 400020,
INDIA |
- |
|
6 |
90202515 |
20/03/1989 * |
633,000.00 |
LIFE INSURANCE CORPN. OF INDIA |
YOGAKSHEMA, JEEVAN BIMA MARG, BOMBAY, Maharashtra |
- |
|
7 |
90206997 |
29/03/1990 * |
854,000.00 |
ICICI LTD. |
163; BACKBAY RECLAMATION, BOMBAY, Maharashtra - 400020, INDIA |
- |
|
8 |
90202433 |
22/04/1993 * |
2,000,000.00 |
NEW BANK OF INDIA |
CHANDNI CHOWK, DELHI, Delhi - 110006, INDIA |
- |
|
9 |
90202420 |
22/04/1993 * |
4,000,000.00 |
STATE BANK OF MYSORE |
ANTRIKASH BHAWAN, KASTURBA GANDHI MARG, NEW DELHI |
- |
|
10 |
90202381 |
20/03/1989 * |
40,000,000.00 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA |
NARIMAN BHAVAN; 227; VINAY K. SHAH MARG, NARIMAN |
- |
* Date of charge modification
FIXED ASSTES:
·
Freehold non-mining land
·
Freehold mining land
·
Leasehold Land
·
Building roads and water works
·
Marine Structure
·
Plant and Machinery
·
Railway sidings and locomotive
·
Furniture and Fixture
·
Office Equipment
·
Ships
·
Vehicles
·
Water Drawing rights
·
Computer software
STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE
QUARTER AND QUARTER ENDED 31.03.2015
Standalone statement of profit and loss
(Rs. In Million)
|
Sr. No |
Particulars |
Standalone |
||
|
Quarter Ended |
|
|||
|
|
|
3 Months Ended 31.03.2015 |
||
|
|
|
Unaudited |
||
|
1 |
Income From
Operations |
|
|
|
|
|
a. Net Sales/ Income from Operations (Net of Excise Duty) |
|
|
24245.700 |
|
|
b. Other Operating Income |
|
|
384.700 |
|
|
Total Income from
Operations (Net) |
|
|
24630.400 |
|
2 |
Expenditure |
|
|
|
|
|
a. Cost of material Consumed |
|
|
2071.600 |
|
|
b. Purchase of Stock-in trade |
|
|
419.000 |
|
|
c. Changes in inventory of finished Goods, work- in-progress and Stock-in-trade |
|
|
98.000 |
|
|
d. Employees Benefit Expenses |
|
|
14.803 |
|
|
f. Depreciation and Amortization Expenses |
|
|
1577.600 |
|
|
g. Power and fuel |
|
|
5367.800 |
|
|
h. Freight and Forwarding |
|
|
|
|
|
- On finished products |
|
|
4732.900 |
|
|
- On internal material tranfer |
|
|
1474.400 |
|
|
-
|
|
|
|
|
|
g. Other expenses |
|
|
4352.200 |
|
|
Total Expenses |
|
|
21108.500 |
|
3 |
Profit from Operations
before Other Income, Interest and Exceptional Items |
|
|
3521.900 |
|
4 |
Other Income |
|
|
951.000 |
|
5 |
Profit from
ordinary activities before finance cost & exceptional items |
|
|
4472.900 |
|
|
Finance costs |
|
|
213.600 |
|
|
Profit from
ordinary activities after finance cost & exceptional items |
|
|
4686.500 |
|
9 |
Exceptional items |
|
|
0.000 |
|
10 |
Profit from
ordinary activities before tax |
|
|
4259.300 |
|
11 |
Tax Expense |
|
|
1082.400 |
|
14 |
Net Profit After
Tax |
|
|
3176.900 |
|
15 |
Paid-up equity share capital (face value of Rs.10 per share) |
|
|
3100.000 |
|
16 |
Reserves excluding Revaluation Reserve as per balance sheet of previous accounting Year |
|
|
0.000 |
|
17 |
Earning Per Share (of Rs.10 each) (not annualized) |
|
|
|
|
|
Basic EPS |
|
|
2.05 |
|
|
Diluted EPS |
|
|
2.05 |
|
|
|
|
|
|
|
A |
PARTICULARS OF
SHAREHOLDING |
|
|
|
|
17 |
Public Shareholding |
|
|
|
|
|
- No. of shares |
|
|
737,534,390 |
|
|
- Percentage of shareholding |
|
|
47.59% |
|
18 |
Promoter &
Promoter Group Shareholding |
|
|
|
|
|
a)
Pledged/Encumbered |
|
|
|
|
|
- No. of shares |
|
|
0.000 |
|
|
b) Non-encumbered |
|
|
|
|
|
- No. of shares |
|
|
780,308,553 |
|
|
- Percentage of shareholding (as a % of the total shareholding of promoter and promoter group) |
|
|
100.00% |
|
|
- Percentage of shareholding (as a % of the total share capital of the company) |
|
|
50.34% |
|
|
Particulars |
Quarter Ended |
|
B |
Investor Complaints |
(31.03.2015) |
|
|
Pending at the beginning of the quarter |
0 |
|
|
Received during the quarter |
10 |
|
|
Disposed off during the quarter |
10 |
|
|
Remaining unresolved at the end of the
quarter |
0 |
NOTE:
1. The above results have approved and been taken on record by the Board of
Director at its meeting held on 29th April 2015.
2. The Company has opted to submit standalone quarterly financial results
during the year 2015.
3. a) Other income includes Rs. Nil for the quarter ended 31st
March, 2015, Rs. 269.700 Million for the year ended 31st March,
2014, Rs. 882.000 Million for the quarter ended 31st December 2014
and Rs. 357.900 Million for the year ended 31st December, 2014,
written back towards interest on income tax relating to earlier years.
b) Tax expenses is net of credit relating to earlier years, Rs. Nil for
the quarter ended 31st March, 2015, Rs. 947.500 Million for the
quarter ended 31st march, 2014, Rs. 809.300 Million for the quarter
ended 31st December, 2014, and Rs. 1756.800 Million for the
year ended 31st December, 2014.
4.
Pursuant to the enactment of the Companies Act
2013 (‘the Act’) the Company has, effective 1st January 2015,
reviewed and revised the estimated useful lives of fixed assets, as per the
life indicated in the Act. Accordingly, as per the transition provisions of the
Act, the Company has adjusted Rs. 1066.300 Million (net of tax of Rs. 549.000
Million) in opening balance of “Surplus in the statement of profit and loss” as
on 1st January, 2015. Further, as a result of this change,
depreciation for the quarter ended 31st March, 2015 is higher by Rs.
396.400 Million.
5. During the quarter
the Company has participated in the r-auction of local blocks conducted by the
Nominated Authority of the Ministry of Coal, Government of India and has
successfully secured the block at Gare-Palma Sector-IV/8 in the state of
Chhattisgarh.
6. The Competition
Commission of India in June 2012 had imposed a penalty of Rs. 11639.100 Million
concerning alleged contravention of the provisions of the Competition Act,
2002. On Company’s appeal, Competition Appellate Tribunal had stayed the
penalty counsel, the Company believe that it has good grounds for a successful
appeal. Accordingly, no provision is considered necessary in the above
financial results.
7. The Company has
only one business segment “Cementitious Materials”.
8. The figures of the
quarter ended 31st December, 2014 is the balancing figures between
audited figures of the financial year ended 31st December, 2014 is
the balancing figures between audited figures of the financial years ended 31st
December, 2014 and the unaudited published year to date figures upto third
quarter of the financial year.
9. The figures of the previous period
have been regrouped wherever necessary to conform to the current period’s
presentation.
10. Limited review for the quarter
ended 31st March, 2015 has been carried out by the statutory
auditors.
Standalone
financial results for the quarter ended 31st March, 2015
Ambuja Cements
Limited today announced its unaudited finacila results for the quarter ended 31st
March 2015
|
|
Jan-March 2015 (Rs. in Million) |
Jan-March 2014 (Rs. in Million) |
Growth (%) |
|
Sales volume-Cement |
5350.000 |
5880.000 |
(9.0%) |
|
Net Sales |
24250.000 |
26380.000 |
(8.1%) |
|
Operating EBITDA |
5100.000 |
5890.000 |
(13.4%) |
|
Net Profit before tax |
4260.000 |
5830.000 |
(26.9%) |
|
Net profit after tax |
3180.000 |
5200.000 |
(38.8%) |
The quarter witnessed a muted cement demand. The net sales turnover was
lower by 8.1% mainly on account of negative growth in volume by 9% but an
improved net cement realization for the quarter.
Improved operational efficiencies restricted the impact of costs increase.
However, the same could not be fully mitigated though price increase, This
together with lower sales volumes resulted in operating EBITDA for the quarter
being lower by 13.4%.
Net profit before tax is down by 26.9% on account of lower operating
EBITDA and due to additional depreciation charge of Rs. 400.000 Million on
implementation of schedule II of the Companies Act, 2013 with effect 1st
January, 2015.
Net profit after tax is lower at Rs. 3180.000 Million during the quarter
as against Rs. 5200.000 Million in the corresponding quarter of previous year,
this is due to lower net profit before tax during the current quarter and also
due to write back of tax provision in corresponding quarter of previous year.
CMT REPORT (Corruption, Money Laundering
& Terrorism]
The Public Notice
information has been collected from various sources including but not limited
to: The Courts,
1] INFORMATION ON DESIGNATED PARTY
No 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.64.04 |
|
|
1 |
Rs.99.03 |
|
Euro |
1 |
Rs.71.76 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILITY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--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 |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
78 |
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.