MIRA INFORM REPORT

 

Report No. :

324417

Report Date :

23.05.2015

 

IDENTIFICATION DETAILS

 

Name :

RUCHI SOYA INDUSTRIES LIMITED

 

 

Registered Office :

Ruchi House, Royal Palm, Survey No. 169, Aarey Milk Colony, Near Mayur Nagar, Goregaon (East), Mumbai – 400065, Maharashtra

Tel No.:

91-22-66560600

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

06.01.1986

 

 

Com. Reg. No.:

11-038536

 

 

Capital Investment / Paid-up Capital :

Rs.688.093 Million

 

 

CIN No.:

[Company Identification No.]

L15140MH1986PLC038536

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMR14074E

BPLR03207B

 

 

PAN No.:

[Permanent Account No.]

AAACR28921

 

 

Legal Form :

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

 

 

Line of Business :

Subject is engaged in the business of processing of oil-seeds and refining of crude oil for edible use. The Company also produces oil meal, food products from soya and value added products from downstream and upstream processing. The Company is also engaged in trading in various products and generation of power from wind energy.

 

 

No. of Employees :

10000 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (49)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track record.

 

There seems sharp dip in the profit of the company during 2014 however net worth of the company is satisfactory. General financial position of the company is good.

 

Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct.

 

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

 

NOTES :

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

 

ECGC Country Risk Classification List – 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: BBB+

Rating Explanation

Moderate degree of safety. It carry moderate credit risk.

Date

13.01.2015

 

Rating Agency Name

CARE

Rating

Short Term Bank Facilities: A2

Rating Explanation

Strong degree of safety and low credit risk.

Date

13.01.2015

 

 

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.

 

 

LOCATIONS

 

Registered Office :

Ruchi House, Royal Palm, Survey No. 169, Aarey Milk Colony, Near Mayur Nagar, Goregaon (East), Mumbai – 400065, Maharashtra, India

Tel. No.:

91-22-66560600/ 22824851/ 39388200

Mobile No.:

91-9967584902 (Mr. Ramesh Gupta)

Fax No.:

91-22-22837525/ 22042865

E-Mail :

amrita_shahra@ruchigroup.com

snehhal@ipan.com

rl_gupta@ruchigroup.com

milind_s@ruchigroup.com

Website :

http://www.ruchisoya.com

 

 

Head/ Administrative

Office :

301 Mahakosh House, 7/5 South Tukoganj, Nath Mandir Road, Indore – 452001, Madhya Pradesh, India

Tel. No.:

91-731-2513281/ 282/ 283

Fax No.:

91-731-4065019/ 2527250

 

 

Branch Office:

408, Tulsiani Chambers, Nariman Point, Mumbai – 400021, Maharashtra, India

 

 

Factory 1 :

Survey No.217/1, Village Mityhirohar, Taluka Gandhidham, Kutch, Gandhidham – 370201, Gujarat, India

Tel No.:

91-2836-645672/73

Fax No.:

91-2836-286509/286473

 

 

Factory 2 :

Mangliagaon, A. B. Road, Indore, Madhya Pradesh, India

 

 

Factory 3 :

Baikampady Industrial Area, Mangalore, Karnataka, India

 

 

Factory 4 :

Village Esambe, Taluka Khalapur, District Raigad, Maharashtra, India

 

 

Factory 5 :

Bijoyramchak, Ward No. 9, P.O. Durgachak, Haldia, West Bengal, India

 

 

Factory 6 :

Village Butibori, Tehsil Nagpur, Maharashtra, India

 

 

Factory 7 :

Akodia Road, Industrial Area, Shujalpur, District Shajapur, Madhya Pradesh, India

 

 

Factory 8 :

Village Kamati, Gadarwada, District Narsinghpur, Madhya Pradesh, India

 

 

Factory 9 :

Gram Mithi Rohar, Taluka Gandhidham, District Bhuj, Gujarat, India

 

 

Factory 10 :

Kannigaiper Village, Uthukottai Taluk, Thiruvallur District, Tamilnadu, India

 

 

Factory 11 :

RIICO Udyog Vihar, Sriganganagar, Rajasthan, India

 

 

Factory 12 :

RIICO Industrial Area, Govindpur Bawari, Post Talera District, Bundi, Rajasthan, India

 

 

Factory 13 :

Kusmoda, A.B. Road, Guna, Madhya Pradesh, India

 

 

Factory 14 :

Kota Road, Baran, Rajasthan, India

 

 

Factory 15 :

Rani Piparia, District Hoshangabad, Madhya Pradesh, India

 

 

Factory 16 :

SIDCO Industrial Estate, Bari Brahmana, Jammu and Kashmir, India

 

 

Factory 17 :

Village Daloda, District Mandsaur, Madhya Pradesh, India

 

 

Factory 18 :

Survey No. 178, Surkandi Road, Washim, Maharashtra, India

 

 

Factory 19 :

Bapulapadu Mandal, Ampapuram Village, Krishna District, Vijaywada, Andhra Pradesh, India

 

 

Factory 20 :

IDA, ADB Road, Peddapuram, East Godawari District, Andhra Pradesh, India

 

 

Factory 21 :

Village Karanpura, Durgawati, District Kaimur, Bihar, India

 

 

Factory 22 :

Survey No. 162 and 163, Bhuvad, Talluka- Anjar, District Kutch, Gujarat, India

 

 

DIRECTORS

 

AS ON 31.03.2014

 

Name :

Mr. Kailashchandra Shahra

Designation :

Chiarman

Address :

29, Old Palasia, A. B. Road, Indore – 452001, Madhya Pradesh, India

Date of Birth/Age :

31.03.1938

Date of Appointment :

07.01.1986

DIN No.:

00062698

Pan No.:

ABJPS9987Q

 

 

Name :

Mr. Dinesh Chandra Shahra

Designation :

Managing Director

Address :

Sharda Building, Flat No. 2A, Road, Churchgate, Mumbai – 400020, Maharashtra, India

Date of Birth/Age :

14.07.1952

Qualification :

B. E. (Chemical Engineer)

Date of Appointment :

07.01.1986

PAN No.:

AACHD3089G

DIN No.:

00533055

 

 

Name :

Mr. A. B. Rao

Designation :

Director (Legal) (upto September 13, 2013)

 

 

Name :

Mr. Vijay Kumar Jain

Designation :

Whole-Time Director

Address :

C-119, Ground Floor, Sun City Sector – 54, Gurgaon – 122002, Haryana, India 

Date of Birth/Age :

03.10.1957

Date of Appointment :

27.07.2009

PAN No.:

AAIPJ2722L

DIN No.:

00098298

 

 

Name :

Mr. Sanjeev Kumar Asthana

Designation :

Director

Address :

363, Espace, Nirvana Country, South City Ii, Gurgaon – 122018, Haryana, India 

Date of Birth/Age :

19.10.1964

Date of Appointment :

28.08.2010

Date of Cessation :

11.08.2014

DIN No.:

00048958

 

 

Name :

Mr. Prabhu Dayal Dwivedi

Designation :

Director

Address :

34 / 513, Pratap Nagar, Sector No 3, Sanganer, Jaipur – 302203, Rajasthan, India 

Date of Birth/Age :

30.01.1941

Date of Appointment :

26.09.2014

DIN No.:

02114285

 

 

Name :

Mr. Sajeve Deora

Designation :

Director

Address :

EC-13, Inderpuri, New Delhi – 110012, India

Date of Birth/Age :

27.12.1959

Date of Appointment :

26.09.2014

DIN No.:

00003305

 

 

Name :

Mr. Murugan Navamani

Designation :

Director

Address :

No 2 CP, Ramasamy Road, Alwarpet Chennai – 600018, Tamilnadu, India

Date of Birth/Age :

24.05.1946

Date of Appointment :

26.09.2014

DIN No.:

01309393

 

 

Name :

Mr. Navin Khandelwal

Designation :

Director

Address :

5/1, Saket, Nagar, Indore – 452018, Madhya Pradesh, India

Date of Birth/Age :

22.04.1973

Date of Appointment :

26.09.2014

DIN No.:

00134217

 

 

KEY EXECUTIVES

 

Name :

Mr. S.K. Dhamni

Designation :

Admin. Manager

 

 

Name :

Mr. Ramji Lal Gupta

Designation :

Company Secretary

Address :

8, Regency Priya Darshani, Khajrana Circle, Indore – 452001, Madhya Pradesh, India

Date of Birth/Age :

10.06.1962

Date of Appointment :

01.12.1993

PAN No.:

AENPG4648H

 

 

SHAREHOLDING PATTERN

 

AS ON 31.03.2015

 

Category of Shareholder

No. of Shares

Percentage of Holding

(A) Shareholding of Promoter and Promoter Group

 

 

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

 

 

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

103189858

30.89

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

82978938

24.84

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

186168796

55.73

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

 

 

Total shareholding of Promoter and Promoter Group (A)

186168796

55.73

(B) Public Shareholding

 

 

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

 

 

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

33431

0.01

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

319480

0.10

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

60715919

18.18

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

61068830

18.28

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

 

 

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

59421656

17.79

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

 

 

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

16615118

4.97

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

10620125

3.18

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

165897

0.05

http://www.bseindia.com/include/images/clear.gifClearing Members

165897

0.05

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

86822796

25.99

Total Public shareholding (B)

147891626

44.27

Total (A)+(B)

334060422

100.00

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

0

0.00

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

0

0.00

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

0

0.00

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

0

0.00

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

334060422

0.00

 

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Company engaged primarily in the business of processing of oil-seeds and refining of crude oil for edible use. The Company also produces oil meal, food products from soya and value added products from downstream and upstream processing. The Company is also engaged in trading in various products and generation of power from wind energy.

 

 

Products :

Products Description

Item Code No.

Soya Extraction

23040030

RBD Palm/ Palmolein Oil

15111000

Guargum

15159099

 

 

Brand Names :

·         Nutrela Oil

·         Mahakash

·         Sunrich 

 

Agencies Held :

--

 

Exports :

--

 

Imports :

--

 

Terms :

--

 

 

GENERAL INFORMATION

 

Supplier :

Reference:

--

Name of the Person (with Designation):

--

Contact Number:

--

Since How Long Known:

--

Maximum Limit Dealt:

--

Experience :

--

Remarks :

--

 

Customer :

Reference:

--

Name of the Person (with Designation):

--

Contact Number:

--

Since How Long Known:

--

Maximum Limit Dealt:

--

Experience :

--

Remarks :

--

 

 

No. of Employees :

10000 (Approximately)

 

 

Bankers :

·         Axis Bank Limited

·         Bank of Baroda

·         Bank of India

·         Bank of Maharashtra

·         Central Bank of India

·         Corporation Bank

·         Dena Bank

·         ICICI Bank Limited

·         IDBI Bank Limited

·         Oriental Bank of Commerce

·         Punjab National Bank

·         State Bank of Bikaner and Jaipur

·         State Bank of Hyderabad

·         State Bank of India

·         State Bank of Mysore

·         State Bank of Patiala

·         State Bank of Travancore

·         Syndicate Bank

·         The Karur Vysya Bank Limited

·         UCO Bank

·         Union Bank of India

 

 

Facilities :

SECURED LOANS

31.03.2014

Rs. In Million

31.03.2013

Rs. In Million

LONG TERM BORROWINGS

 

 

Term Loans from Banks

 

 

- Rupee Loans

3501.457

3196.966

- Foreign Currency Loans

6256.825

6455.084

 

 

 

SHORT TERM BORROWINGS

 

 

Working Capital Loans from Banks

2911.887

6963.264

Total

12670.169

16615.314

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

P. D. Kunte and Company

Chartered Accountants

Address :

205/206, Turf Estate, Shakti Mills Lane, Off Dr. E. Moses Road, Mumbai – 400011, Maharashtra, India

Tel. No.:

91-22-24903751/ 24903752/ 24903753

Fax No.:

91-22-24903754

E-Mail :

mail@pdkunte.com

 

 

Cost Auditor  :

 

Name :

K. G. Goyal and Company

Cost Accountants

 

 

Subsidiaries :

·         Ruchi Worldwide Limited

·         Mrig Trading Private Limited

·         Gemini Edibles and Fats India Private Limited

·         Ruchi J-Oil Private Limited

·         RSIL Holdings Private Limited

·         Ruchi Industries Pte. Limited

·         Ruchi Ethiopia Holdings Limited

 

 

Step down Subsidiaries :

·         Ruchi Agri Plantation (Combodia) Company Limited

·         Ruchi Agritrading Pte. Limited

·         Ruchi Agri SARLU

·         Ruchi Hi-Rich Seeds Private Limited

·         Ruchi Agri Private Limited Company

·         Palmolien Industries Pte. Limited

 

 

Associates :

·         GHI Energy Private Limited

·         Ruchi Kagome Foods India Private Limited

 

 

Parties where control exists :

·         Indian Oil Ruchi Bio Fuels, Limited Liability Partnership

·         Ruchi Infrastructure Limited

 

 

Entities where Key Management Personnel or relatives of Key Management Personnel have significant influence :

·         Ruchi Bio Fuels Private Limited

·         High Tech Realties Private Limited

·         Mahakosh Holdings Private Limited

·         Deepti Housing Private Limited

·         Shahra Brothers Private Limited

·         Mahadeo Shahra and Sons

·         Mahadeo Shahra Sukrat Trust

·         Disha Foundation (Trust) (Formerly Shiva Foundation)

·         RSIL Benificiary Trust

·         Shahra Estate Private Limited

·         Spectra Realties Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 26.09.2014

 

Authorised Capital : Rs.2530.500 Million

 

Issued, Subscribed & Paid-up Capital : Rs.688.121 Million

 

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1010250000

Equity Shares

Rs.2/- each

Rs.2020.500 Million

5100000

Cumulative Redeemable Preference Shares

Rs.100/- each

Rs.510.000 Million

 

Total

 

Rs.2530.500 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

334046422

Equity Shares

Rs.2/- each

Rs.668.093 Million

200000

6% Non-Convertible Redeemable Preference Shares

Rs.100/- each

Rs.20.000 Million

 

Total

 

Rs.688.093 Million

 

a)     Reconciliation of the number of shares

 

Particulars

As at March 31, 2014

Number of Shares

Rs. in Million

Equity Shares

 

 

Balance as at the beginning of the year

33922572

667.845

Add: Shares issued under Employee Stock option during the year

123850

0.248

Balance as at the end of the year

34046422

668.093

 

 

 

ii) Preference Shares

 

 

Balance as at the beginning of the year

200000

20.000

Add: Shares issued during the year

--

--

Balance as at the end of the year

200000

20.000

 

 

b)    Rights, Preferences and Restrictions attached to shares

 

Equity Shares:

 

The Company has one class of equity shares having a par value of Rs.2 per share. Each shareholder is eligible for one vote per share held. 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, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

 

Lock in Restrictions

 

Nil (Previous year 12500000) Equity shares are subject to lock in restrictions.

 

Preference Shares:

 

6% Non-Convertible Redeemable Cumulative Preference Shares of Rs.100/- each were issued pursuant to the Scheme of Amalgamation and Arrangement between Sunshine Oleochem Limited, Ruchi Soya Industries Limited and their respective shareholders sanctioned by the Hon’ble High Court of judicature of Mumbai in an earlier year on the same terms and conditions as originally issued by Sunshine Oleochem Limited.

 

These preference shares are redeemable as follows:

 

a)     First installment of Rs.33/- per preference share on completion of 144 months from March 31, 2009.

b)    Second installment of Rs.33/- per preference share on completion of 156 months from March 31, 2009.

c)     Third installment of Rs.34/- per preference share on completion of 168 months from March 31, 2009.

 

 

c)     Details of shares held by shareholders holding more than 5% shares in the Company.

 

Name of Shareholder

Number of Shares

% holding

 

 

 

Equity Shares

 

 

Mr. Dinesh Shahra [in the capacity of Trustee of Disha Foundation (Formerly known as Shiva Foundation)]

47440350

14.20%

Dinesh Shahra (HUF)

17205836

5.15%

Soyumm Marketing Private Limited

29145577

8.73%

Spectra Realties Private Limited

18100000

5.42%

Sawit Plantations Pte Limited

19612913

5.87%

 

 

 

Preference Shares

 

 

Ruchi Infrastructure Limited

200000

100.00%

 

 

d)    The issued, subscribed and paid-up share capital includes 56638462 Equity Shares and 200000 Preference Shares issued during the last five years pursuant to Schemes of Amalgamation, Arrangement and Mergers.

 

 

 

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

688.093

687.845

686.717

(b) Reserves & Surplus

22,696.430

22,974.421

21,330.071

(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)

23,384.523

23,662.266

22,016.788

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

10,478.818

10,374.181

7,997.050

(b) Deferred tax liabilities (Net)

2,699.497

2,466.711

2,528.721

(c) Other long term liabilities

148.962

279.543

352.294

(d) long-term provisions

0.015

0.015

16.669

Total Non-current Liabilities (3)

13,327.292

13,120.450

10,894.734

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

15,201.657

44,013.239

37,874.009

(b) Trade payables

54,589.441

48,232.945

41,240.782

(c) Other current liabilities

16,466.833

15,032.327

14,595.403

(d) Short-term provisions

134.020

211.985

170.264

Total Current Liabilities (4)

86,391.951

107,490.496

93,880.458

 

 

 

 

TOTAL

123,103.766

144,273.212

126,791.980

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

24,923.651

24,769.012

23,413.770

(ii) Intangible Assets

37.926

28.998

36.150

(iii) Capital work-in-progress

1,433.556

2,133.226

2,370.057

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

3,233.362

2,610.795

2,102.855

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

969.796

1,189.145

847.098

(e) Other Non-current assets

1.745

3.419

3.877

Total Non-Current Assets

30,600.036

30,734.595

28,773.807

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

110.584

218.257

4.418

(b) Inventories

34,456.750

33,441.506

36,602.026

(c) Trade receivables

45,669.359

42,467.747

30,990.157

(d) Cash and cash equivalents

3,789.577

29,499.432

23,992.329

(e) Short-term loans and advances

7,100.967

5,456.038

4,706.722

(f) Other current assets

1,376.493

2,455.637

1,722.521

Total Current Assets

92,503.730

113,538.617

98,018.173

 

 

 

 

TOTAL

123,103.766

144,273.212

126,791.980

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

243,810.148

261,464.379

259,966.027

 

 

Other Income

2,200.708

3,384.073

2,272.565

 

 

TOTAL                                     (A)

246,010.856

264,848.452

262,238.592

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Material Consumed

140,197.426

159,113.488

140,349.946

 

 

Purchases of Stock In Trade

76,350.448

75,179.792

98,278.910

 

 

Changes in inventories of finished goods, work-in-progress and

stock in trade

2,315.619

2,398.305

(6,121.493)

 

 

Employees Benefits Expenses

1,769.161

1,425.590

1,102.561

 

 

Others Expenses

18,040.737

17,314.973

19,725.028

 

 

Exceptional Items

(110.541)

0.000

0.000

 

 

TOTAL                                     (B)

238,562.850

255,432.148

253,334.952

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

7,448.006

9,416.304

8,903.640

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

5,305.972

4,838.227

5,212.619

 

 

 

 

 

 

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

2,142.034

4,578.077

3,691.021

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

1,644.865

1,542.629

1,407.765

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

497.169

3,035.448

2,283.256

 

 

 

 

 

Less

TAX                                                                  (H)

362.968

672.808

1,060.109

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

134.201

2,362.640

1,223.147

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

9070.212

7,084.037

6,086.295

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

General Reserve

100.000

250.000

100.000

 

 

Proposed Dividend

54.650

108.095

107.901

 

 

Tax on Dividend

9.288

18.370

17.504

 

BALANCE CARRIED TO THE B/S

9040.475

9070.212

7,084.037

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

F. O. B value of Export

35987.615

43210.658

32343.326

 

 

F. O. B value of Merchandise trade

12449.145

14675.056

10843.919

 

TOTAL EARNINGS

48436.760

57885.714

43187.245

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Purchase of Oils

68644.754

81644.833

69127.946

 

 

Purchases for Merchandise exports

12293.162

14554.083

9334.897

 

 

Purchase of Consumables/ packing materials

31.840

68.974

7.394

 

TOTAL IMPORTS

80969.756

96267.890

78470.237

 

 

 

 

 

 

Earnings Per Share (Rs.)

0.07

7.08

3.67

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

 

 

 

From Banks

3648.339

2787.777

3101.043

From State Government

1.595

0.000

0.000

Total

3649.934

2787.777

3101.043

 

 

 

 

Cash generated from operations

34791.418

(19447.940)

9644.658

 

 

QUARTERLY RESULTS

 

PARTICULARS

 

30.06.2014

30.09.2014

31.12.2014

Type

1st Quarter

2nd Quarter

3rd Quarter

Net Sales

5,7254.700

7,0670.000

57773.700

Total Expenditure

5,5614.500

6,9467.500

56768.000

PBIDT (Excl OI)

1640.200

1202.500

1005.700

Other Income

104.800

74.500

160.800

Operating Profit

1745.000

1277.000

1166.400

Interest

1133.300

911.800

1014.700

Exceptional Items

0.000

0.000

649.200

PBDT

611.600

365.200

801.000

Depreciation

554.000

244.900

420.100

Profit Before Tax

57.700

120.300

380.900

Tax

55.900

68.100

15.400

Provisions and contingencies

0.000

0.000

0.000

Profit After Tax

1.800

52.200

365.400

Extraordinary Items

0.000

0.000

0.000

Prior Period Expenses

0.000

0.000

0.000

Other Adjustments

0.000

0.000

0.000

Net Profit

1.800

52.200

365.400

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin
(PAT / Sales)

(%)

0.06

0.90

0.47

 

 

 

 

 

Operating Profit Margin
(PBIDT/Sales)

(%)

3.05

3.60

3.42

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets)

(%)

0.42

2.18

1.87

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.02

0.13

0.10

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.25

2.42

2.22

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.07

1.06

1.04

 

STOCK PRICES

 

Face Value

Rs.2.00/-

Market Value

Rs.40.70/-

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

686.717

687.845

688.093

Reserves & Surplus

21330.071

22974.421

22696.430

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

22016.788

23662.266

23384.523

 

 

 

 

long-term borrowings

7997.050

10374.181

10478.818

Short term borrowings

37874.009

44013.239

15201.657

Current Maturities Of Long-Term Debts

3101.043

2787.777

3649.934

Total borrowings

48972.102

57175.197

29330.409

Debt/Equity ratio

2.224

2.416

1.254

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

259966.027

261464.379

243810.148

 

 

0.576

(6.752)

 

 

 

 

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

259966.027

261464.379

243810.148

Profit

1223.147

2362.640

134.201

 

0.47%

0.90%

0.06%

 

 

 

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

 

CHARGES

 

ENTITY

PERSON

COMPETENT AUTHORITY

REGULATORY CHARGES

REGULATORY ACTION(S) / DATE OF ORDER

FURTHER DEVELOPMENTS

RUCHI SOYAINDUSTRIES LIMITED

 --

CBEC 

DEFAULTED IN PAYMENT OF CUSTOMS/EXCISE DUTIES

NOTICE ISSUED UNDER SECTION 142 OF CUSTOMS ACT, 1962

28-FEB-2013

RUCHI SOYAINDUSTRIES LIMITED

 --

BSE 

DID NOT SUBMIT SHAREHOLDING PATTERN UNDER PROVISIONS OF CLAUSE 35 FOR THE QUARTER ENDED 31-DECEMBER-2010

PUT UP ON BSE WEBSITE FOR PUBLIC NOTICE

31-DEC-2010

NOT APPEARING IN THE LIST FOR THE QUARTER ENDED 31-MARCH-2011

RUCHI SOYAINDUSTRIES LIMITED

 --

SEBI 

ALLEGED FAILURE IN MAKING DISCLOSURE OF SHAREHOLDING/CHANGES IN SHAREHOLDING TO STOCK EXCHANGES FOR YEARS 1998 TO 2005 AS REQUIRED UNDER REGULATIONS 6(2),6(4) AND 8(3) OF SEBI TAKEOVER CODE, 1997 IN MATTER OF PARAM INDUSTRIES LTD.

ALLEGED FAILURE IN MAKING DISCLOSURE OF SHAREHOLDING/CHANGES IN SHAREHOLDING TO STOCK EXCHANGES AS REQUIRED UNDER REGULATION 13(6) OF SEBI (PROHIBITION OF INSIDER TRADING) REGULATIONS, 1992 IN MATTER OF PARAM INDUSTRIES LIMITED

ALLEGED FAILURE IN MAKING DISCLOSURE OF PREFERENTIAL ALLOTMENT OF 32,82,480 SHARES REQUIRED UNDER SEBI (DISCLOSURES AND INVESTOR PROTECTION) GUIDELINES, 2000 TO BE FURNISHED TO SHAREHOLDERS DURING AGM

REACHED SETTLEMENT (SETTLEMENT CHARGES RS.10.000 Million VIDE CONSENT ORDER)

24-JUN-2010

 

 

INDEX OF CHARGE

 

Sr. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10512373

31/07/2014

1,680,000,000.00

STANDARD CHARTERED BANK

NARAIN MANZIL 23, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA

C14547269

2

10494305

29/03/2014

3,000,000,000.00

STATE BANK OF INDIA

COMMERCIAL BRANCH, A. B. ROAD, NEAR GPO, INDORE,
MADHYA PRADESH - 452001, INDIA

C03965878

3

10419930

22/03/2013

3,650,000,000.00

STATE BANK OF INDIA

COMMERCIAL BRANCH, A. B ROAD, NEAR GPO, INDORE, MADHYA PRADESH - 452001, INDIA

B73253957

4

10386062

19/10/2012

2,650,000,000.00

STATE BANK OF INDIA

COMMERCIAL BRANCH, A. B. ROAD, NEAR G.P.O., INDOR
E, MADHYA PRADESH - 452001, INDIA

B61783767

5

10373592

30/08/2012

1,669,455,000.00

DBS BANK LIMITED

3RD FLOOR, FORT HOUSE, 221, DR. D. N. ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B56697717

6

10370275

09/08/2012

1,102,900,000.00

DBS BANK LIMITED

3RD FLOOR, FORT HOUSE, 221, DR. D. N. ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B45343043

7

10360000

17/05/2012

300,000,000.00

AXIS BANK LIMITED

01, KAMAL PALACE, Y N ROAD, INDORE, MADHYA PRADESH - 452001, INDIA

B41351016

8

10329974

10/09/2013 *

1,375,000,000.00

AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED

CNERGY, 6TH FLOOR, APPASAHEB MARATHE MARG, PRABHA DEVI, MUMBAI, MAHARASHTRA - 400025, INDIA

B85195261

9

10296868

27/06/2011

2,500,000,000.00

STATE BANK OF INDIA

COMMERCIAL BRANCH, A. B. ROAD, NEAR GPO, INDORE,
MADHYA PRADESH - 452001, INDIA

B16773319

10

10286881

27/04/2011

917,400,000.00

STANDARD CHARTERED BANK

90, M G ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B12842993

11

10311401

25/03/2011

690,000,000.00

BANK OF INDIA

NARIMAN POINT LARGE CORPORATE BRANCH, 92/93, FREE
PRESS HOUSE, NARIMAN POINT, MUMBAI, MAHARASHTRA -
400021, INDIA

B16845760

12

10285373

22/03/2011

700,000,000.00

YES BANK LIMITED

9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR.
ANNIE BESANT ROAD, WORLI, MUMBAI, MAHARASHTRA -
400018, INDIA

B12152864

13

10272947

10/01/2011

1,000,000,000.00

IDBI BANK LIMITED

SPECIALISED CORPORATE BRANCH,UPPER GROUND FLOOR,  CAPT C S NAYUDU ARCADE, 10/2, OLD PALASIA., INDORE, MADHYA PRADESH - 452001, INDIA

B07210198

14

10261308

28/12/2010

500,000,000.00

STATE BANK OF HYDERABAD

11-C, MITTAL TOWER, 210, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA

B03229135

15

10239839

12/10/2012 *

46,255,000,000.00

AXIS BANK LIMITED

2ND FLR, AXIS HOUSE, BOMBAY DYEING MILLS COMPOUND,
PANDURANG BUDHKAR MARG, WORLY, MUMBAI, MAHARASHTRA - 400001, INDIA

B61325767

16

10228812

24/06/2010

922,000,000.00

STANDARD CHARTERED BANK

90, M G ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A88973359

17

10181563

24/12/2013 *

75,905,400,000.00

STATE BANK OF INDIA

COMMERCIAL BRANCH, A.B. ROAD, NEAR G.P.O., INDORE, MADHYA PRADESH - 452001, INDIA

B92726215

18

10310363

19/12/2008

642,120,000.00

THE BANK OF RAJASTHAN LIMITED

OVERSEAS BRANCH, C-WING, MITTAL TOWER, NARIMAN PO
INT, MUMBAI, MAHARASHTRA - 400021, INDIA

A56426968

19

10133208

30/10/2008

3,000,000,000.00

PUNJAB NATIONAL BANK

MID, CORPORATE BRANCH, SIYAGANJ, INDORE, MADHYA
PRADESH - 452001, INDIA

A52247657

20

10127581

10/10/2008

250,000,000.00

BARCLAYS BANK PLC

FIRST FLOOR, 69 VALLAI PACHIAPPAN STREET, KAMARAJ SALAI, KANCHIPURAM, TAMIL NADU - 631501, INDIA

A49546526

21

10097587

19/03/2008

250,000,000.00

THE KARUR VYSYA BANK LIMITED

POST BOX NO.21, ERODE ROAD, KARUR, TAMIL NADU -
639002, INDIA

A36305332

22

10026845

10/11/2006

2,882,100,000.00

CENTRAL BANK OF INDIA LIMITED

CORPORATE FINANCE BRANCH, SIYAGANJ, INDORE, MADHYA PRADESH - 452001, INDIA

A07099666

23

10022029

24/10/2006

250,000,000.00

THE KARUR VYSYA BANK LTD

POST BOX NO.21, , ERODE ROAD, KARUR, TAMIL NADU -
639002, INDIA

A05511969

24

10022240

28/09/2006

350,000,000.00

CENTRAL BANK OF INDIA LIMITED

CORPORATE FINANCE BRANCH, PHASE-I, PALIKA PLAZA,
SECOND FLOOR, M.T.H. COMPOUND, INDORE, MADHYA PRADESH - 452007, INDIA

A05551627

25

10073789

13/09/2006

200,000,000.00

DENA BANK

INDUSTRIAL FINANCE BRANCH, 9TH FLOOR, MAKERS TOWE
R E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

A05748520

26

10007109

07/06/2006

900,000,000.00

STATE BANK OF PATIALA

20, USHA NAGAR EXTENSION, INDORE, MADHYA PRADESH -
452001, INDIA

A01501584

27

10007681

24/02/2010 *

1,162,900,000.00

STATE BANK OF INDORE (LEAD BANKER)

INDUSTRIAL FINANCE BRANCH, KHEL PRASHAL, INDORE,
MADHYA PRADESH - 452001, INDIA

A82573049

28

80021478

24/02/2010 *

1,162,900,000.00

STATE BANK OF INDORE (LEAD BANKER)

INDUSTRIAL FINANCE BRANCH, KHEL PRASHAL, INDORE,
MADHYA PRADESH - 452001, INDIA

A82572553

29

90243877

30/03/2007 *

350,000,000.00

STATE BANK OF INDIA

COMMERCIAL BRANCH, A. B. ROAD, NEAR G. P. O., IN
DORE, MADHYA PRADESH - 452001, INDIA

-

30

90238548

27/07/2005

100,000,000.00

IDBI BANK LIMITED

ALANKAR CHAMBERS, RATLAM KOTHI; A.B. ROAD, INDORE
, MADHYA PRADESH, INDIA

-

31

90242661

16/03/2005

50,000,000.00

INDUYSTIRAL BANK

BOMBAY, INDORE, MADHYA PRADESH, INDIA

-

32

90242590

24/11/2004

40,000,000.00

INDUYSTIRAL BANK

BOMBAY, INDORE, MADHYA PRADESH, INDIA

-

33

90242580

27/10/2004

500,000,000.00

ANDHRA BANK

NO. 33, III FLOOR; ATLANTA; NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA

-

34

90241179

25/08/2004

200,000,000.00

UTI BANK LIMITED

KAMAL PALACE; 1, YASHWANT COLONY; YASHWANT NIWAS
ROAD, INDORE, MADHYA PRADESH - 452001, INDIA

-

35

90243728

30/11/2004 *

200,000,000.00

UTI BANK LIMITED

KAMAL PALACE; 1, YASHWANT NIWAS ROAD, INDORE, MADHYA PRADESH - 452001, INDIA

-

36

90241154

18/06/2004

125,000,000.00

SOUTH INDIAN BANK LIMITED

HAMPANKATTA BRANCH, MANGALORE, KARNATAKA, INDIA

-

37

90187976

08/05/2004

250,000,000.00

THE KARUR VYSYA BANK LIMITED

ERODE ROAD, INDORE, MADHYA PRADESH, INDIA

-

38

90242517

05/05/2004

250,000,000.00

THE KARUR VYSYA BANK LIMITED

APPOLO TRADE CENTRE, RAJGARH KOTHI; A.B. ROAD, INDORE, MADHYA PRADESH, INDIA

-

39

90241122

15/05/2004 *

50,000,000.00

PUNJAB NATIONAL BANK

SIYAGANJ BRANCH, INDORE, MADHYA PRADESH, INDIA

-

40

90243681

31/03/2004

100,000,000.00

THE BANK OF RAJASTHAN LIMITED

OVERSEAS BRANCH; C-WING, MITTAL TOWER; NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA

-

41

90241118

30/11/2004 *

250,000,000.00

ING VYSYA BANK LIMITED

OPERA HOUSE BRANCH, MUMBAI, MAHARASHTRA, INDIA

-

42

90187973

09/03/2004

202,500,000.00

THE JAMMU & KASHMIR BANK LIMITED

DIAMOND COLONY, INDORE, MADHYA PRADESH, INDIA

-

43

90241101

25/08/2004 *

240,000,000.00

UTI BANK LIMITED

KAMAL PLACE; 1, YASHWANT COLONY; YASHWANT NIWAS R
OAD, INDORE, MADHYA PRADESH - 452001, INDIA

-

44

90241097

19/02/2004

141,000,000.00

THE KARUR VYSYA BANK LIMITED

APPOLO TRADE CENTRE, RAJGARH KOTHI; A.B. ROAD, INDORE, MADHYA PRADESH, INDIA

-

45

90188929

13/12/2003

100,000,000.00

KARUR VYSYA BANK LIMITED

ERODE ROAD, INDORE, MAHARASHTRA, INDIA

-

46

90241062

09/06/2004 *

150,000,000.00

STATE BANK OF INDIA

INDUSTRIAL FINANCE BRANCH, A.B. ROAD (NEAR G.P.O.), INDORE, MADHYA PRADESH, INDIA

-

47

90050173

13/11/2003

150,000,000.00

PUNJAB NATIONAL BANK

M.P.H.B. BRANCH, INDORE, MADHYA PRADESH, INDIA

-

48

90144521

06/06/2003

175,000,000.00

CREDIT AGRICOLE INDOSUEZ

HOMCHAT HOUSE, 11TH FLOOR; NARIMAN POINT, MUMBAI,
MAHARASHTRA - 400021, INDIA

-

49

90144428

08/07/2003 *

100,000,000.00

LORD KRISHNA BANK LTD

NO. 281; ANNA SALAI, CHENNAI, TAMIL NADU - 600018,
INDIA

-

50

90240967

17/03/2003

25,000,000.00

PUNJAB NATIONAL BANK

SIYAGANJ BRANCH, INDORE, MADHYA PRADESH, INDIA

-

 

 

UNSECURED LOAN:

 

Particulars

31.03.2014

Rs. In Million

31.03.2013

Rs. In Million

LONG TERM BORROWINGS

 

 

Deferred Sales Tax Liability

720.536

722.131

 

 

 

SHORT TERM BORROWINGS

 

 

From Banks / Financial Institutions

12289.770

37049.975

Total

13010.306

37772.106

 

 

CHANGE OF ADDRESS

 

The registered office of the company has been shifted from 614, Tulsiani Chambers, 2nd Floor, Backbay Reclamation, Nariman Point, Mumbai – 400021, Maharashtra, India to the present address.

 

 

GENERAL INFORMATION

 

The Company is a Public Limited Company engaged primarily in the business of processing of oil-seeds and refining of crude oil for edible use. The Company also produces oil meal, food products from soya and value added products from downstream and upstream processing. The Company is also engaged in trading in various products and generation of power from wind energy. The Company has manufacturing plants across India and is listed on the Bombay Stock Exchange Limited (BSE) and National Stock Exchange of India Limited (NSE).

 

 

PERFORMANCE IN 2013-14

 

The business environment was challenging during the financial year 2013-14 mainly on account of an anomaly in India’s import duty regime for oils, a lower soya crop due to unfavourable monsoons, and increased hedging costs that were consequently faced. However, there balanced and integrated business model has insulated them to some degree as there focus is on the higher end of the value chain. This strategy has aided them in combating these challenging business conditions. There have also diversified into additional agri-product offerings that have a relatively inelastic export demand to help them maintain their revenues. Going forward, there are optimistic about their performance and have oriented ourselves to further brand development. Recognising that there is a vast potential in India for branded goods that offer consistent value to discerning consumers, there are positioning ourselves to increase their brand visibility and retail presence across the country.

 

 

OPERATIONS

 

During the year, the Total Income (Revenue) of the Company has decreased to Rs.246010.800 Million from Rs.264848.500 Million in the previous year. The Profit after tax of Rs.134.200 Million was recorded during the year as against Rs.2362.700 Million in the previous year. The anomaly in import duty structure entailing higher landed cost of crude palm products for the domestic refining industry and the consequent lower capacity utilization and profitability, poor arrival of soya seeds in the market resulting in lack of commercial parity for crushing and increase in foreign currency hedging cost during the year, have primarily contributed to decline in profitability.

 

 

ACQUISITION PROPOSAL

 

During the year, the Company has entered into a Business Transfer Agreement with Ruchi Infrastructure Limited to acquire its oil refinery business being run at its plant situated at Kakinada in the state of Andhra Pradesh as a going concern with assets/ liabilities thereof. Such acquisition will strengthen the presence of the Company in south eastern region of the country.

 

 

EXPORTS

 

The Company exported products of Rs. 48436.800 Million during the year under review as compared to Rs. 57885.700 Million in the previous year. The decline in export was mainly due to lower soya crop size and availability of soya beans in the market place for crushing.

 

 

FUTURE OUTLOOK

 

Keeping in view the improved business sentiments, the economy showing signs of better growth in the coming years and the partial corrective measures taken by the Government in January 2014 against the anomaly in import duty structure relating to palm segment, they expect better utilisation of productive capacities of domestic refining and performance. They also hope that the advancing of monsoon in July 2014 in the soya seed growing areas will help the sowing season and lead to better than expected crop production in the current year. They believe that better business environment will entail better capacity utilisation and higher export volumes. Considering the growing trend in the industry and their strong focus, they anticipate that the branded sales segment is also expected to be higher in the current year. They are hopeful of improved performance in the current year.

 

Keeping in view the vast potential in the edible business and growing consumption across the population, the company is supportive of the view of the industry that consistent and conducive domestic tariff policies will facilitate domestic value addition, investment into the productive and its dependent sectors and overall growth of the economy. In view of their growing strengths in the sourcing, processing, logistics and distribution activities in India, the Company expects to sustain the leadership position in the times to come.

 

The Company will continue to focus on growing the front end and back end activities of the integrated business model with a view to have better visibility of end products in the market place across the spectrum and  sustainable sourcing and origination capabilities to improve margin on the value chain. The company is in the process of introducing new and value added products with a blend of taste, variety, health and wellness to cater to changing preferences of consumers. The strategy is oriented towards greater visibility in the market place and closeness to customers across regions. They trust the results and impact will be clearly visible in the market place in the times to come to enable them to continue to grow higher than the growth rate of the segment.

 

The Company is in the process of enlarging/extending its presence in the agri product portfolio involving   connectivity with farming community for procurement, processing and export with value addition. The extension enables them to enter into complimentary areas to leverage sourcing strengths (agri commodities) and international distribution network with a view to sustain a growing relationship with their international customers and domestic farming community.

 

 

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

 

INDUSTRY STRUCTURE AND DEVELOPMENT

 

The primary business of the Company is processing of oilseeds and refining of crude oil for edible use. The Company also produces oil meal, food products from soya and value added products from downstream and upstream processing. The domestic edible oil consumption has been steadily growing with per capita consumption of approx. 15 kg (2013-14), it still remains far below the estimated world average per capita consumption of around 22 kg. The demand drivers include consistent GDP growth rate over a period of time, demographic profile, urbanisation, consumer tastes and preferences etc. However, the supply growth has been primarily lower due to relative stagnancy in the domestic oil seed output, thereby resulting in higher import volumes. In view of the demandsupply gap, over 60% of the domestic edible oil consumption is met by imports, with Palm and Soya oil accounting forover 85% of the imported volume. The domestic soya crop production was marginally lower, around 11 million MT in India during the year under review. The oil meal, produced as a result of processing of oil seed, is essentially consumed as poultry, fish and cattle feed. A substantial part of soya meal is generally exported to the Asian region even though the domestic demand is growing.

 

During the year under review, the international economic situations, coupled with policy actions have influenced domestic business sentiments. The palm segment continues to maintain the overall share of over 70% of the imported vegetable oil in the country, due to favourable price dynamics and higher demand of the cost conscious consuming population in the country. The Government of India had raised import duty on crude palm products in January, 2013 without raising duty on imported refined oil, resulting in cost pressures for the highly competitive domestic refining industry and promotion of refined products to India (thereby benefiting overseas refining industry), contrary to the general policy expectation of encouraging domestic industry (and the associated dependent sectors) and promoting domestic value addition. While the anomaly was partially rectified in Jan 2014, for a substantial period of the year, higher landed cost of imported crude oil for refinery operations and the lower capacity utilisation of refinery units have adversely impacted the operating performance of the port based domestic refining industry during 2013-14 and also the investments in manufacturing capacities, despite a strong consumption growth and a case for value addition.

 

Also, volatility in the exchange rate of Indian currency more particularly during the first half of 2013-14 with a sharp depreciation in the value of Indian rupee has rendered hedging cost higher as compared to previous year.

 

The domestic Soybean crop which was estimated to be over 12 million MT initially, was revised downwards to less than 11 million MT due to unusual rains during the fag end of the crop season ended September 2013. The poor arrival of soya seeds market and disparity in processing have led to lower capacity utilisation and contribution of the crushing units during the peak season for crushing i.e October 2013 to March 2014. The company’s performance for the year 2013-14 may be viewed in the context of the above mentioned economic/ market environment and sluggish GDP growth of less than 5% for the second year in succession.

 

 

INDUSTRY OUTLOOK

 

The Indian economy is showing signs of strength, backed by improvement in overall business sentiments. Due to strong demand for the edible oil and food products, they expect the consumption to grow and to increase our market share, with better profitability and sustained performance. According to the industry estimates, the production of oil seed is around 28 to 30 Million tonnes with yield of only 1000 to 1100 kg per hectare. The domestic production of edible oil is around 7.5 million tonnes against the demand of around 19 million tonnes, rendering the import to bridge the demand – supply gap and the domestic refining industry to have a major role to

play in the edible oil segment.

 

The domestic refining industry is operating on highly competitive terms to offer economical prices of refined edible

oils to Indian consumers. Any adverse landed cost of inputs due to domestic duty structure would adversely impact the functioning of the refining industry and its associated dependent sectors. Considering the global economic scenario and encouraging business conditions in domestic markets, the industry hopes that the Government of India would set (and review from time to time, as may be required) tariff policy so as to stimulate the domestic industry on a consistent basis and harmonise the interest of domestic farmers, processors and consumers through appropriate and differential import duties between import of crude and refined oils. The industry further hopes that the Government would proactively respond to global factors and genuine requests of the industry on a regular basis so as to foster domestic manufacturing growth and to prop up investments in the domestic manufacturing sector, given the vast potential of edible oil consumption in India.

 

Keeping in view the growing demand of Palm Oil and augmentation of the domestic supply, the Government of India and State Governments have identified potential areas for oil palm cultivation and taken measures to promote oil palm cultivation and processing in India. It is believed that the above will benefit farmers with better income, reduce import bill of edible oil, support domestic industry and promote regional development. As the effective oil yield per hectare of palm is far higher than any other oil seeds, the encouragement will entail increase in the sustainable sources of supply of domestic edible oil and will be beneficial to the stakeholders in the long run.

The overall demand for edible oil has been growing and the incremental demand –supply gap is increasingly met by imports. While the domestic land for production of oil seeds, has been relatively stagnant due to alternative land use for production of food grain and other annual crops, there is an need to explore augmentation of different oil seeds supply across regions.

 

Given the growing dependency of imports for such a basic commodity of mass consumption, it is believed that strong and speedy policy actions such as amendments in relevant laws for stimulating investments and reduction of transaction costs, use of technology and mechanisation for fostering productivity and conservation of natural resources, steps for remunerative prices of products for farmers without consumer price increase, better agri infrastructure connectivity between production, storage, distribution and supply in the market place, rationalisation and cash transfer of subsidies to deserving beneficiaries etc. would be needed to boost higher growth of domestic supply.

 

Also, encouragement should be given for research and innovation in the area of improvement in yield and productivity of edible oil seeds. While this may be viewed as a long term initiative, the attention and investment in this regard would be much needed given the immense potential for a substantial growth in domestic supply and cascading growth. For example, substantial improvement in yield and productivity of soya seed will lead to augmentation of domestic supply of soya oil and corresponding import substitution, increase in export of oil meal, growth in supply of protein rich cost effective consumer products for Indian markets, improvement in rural economy and benefiting the stake holders on a sustained basis.

 

The pattern of consumption of edible oil is moving towards packed and/or branded form due to factors such as rising incomes coupled with changes in household demographics, improving health consciousness, growing organised retail improving reach of the products across the country, visual advertisements, etc. Given the growth in the overall edible oil consumption, keeping in view the discerning and value conscious need of the growing consumer base, the growth in packed segment has been growing almost twice of the overall edible oil growth in the recent past. The trend is expected to continue due to low base and vast potential. Companies serving customers constantly with value added products across regions, considering the taste and preferences, would have competitive edge over others. Also, owing to growing health consciousness, certain markets could be created for high value and differentiated products from health and wellness point of view. Consistency in quality and availability, market positioning, functional differentiation and perception of high value will be key deliverables for sustaining growth in niche segments.

 

 

PARTICULARS

31.03.2014

Rs. In Million

31.03.2013

Rs. In Million

a) Claims against the Company not acknowledged as debts

85.047

115.203

b) Outstanding bank guarantees

596.469

571.776

c) Outstanding letter of credit

--

--

d) Outstanding corporate guarantees given on behalf of

 

 

- Indian Subsidiary (Share in sanctioned amount Rs. 7020.879 Million

(Previous year Rs. 5550.416 Million)

4239.171

3471.592

- Indian Associate (Sanctioned amount Rs. 960.000 Million

(Previous year Rs. 960.000 Million)

732.600

800.600

- Foreign Subsidiary (Sanctioned amount Rs. 5103.400 Million

(Previous year Rs. 2400.200 Million)

1373.415

--

e) EPCG Licences benefit in event of default of Export Obligation

52.038

17.796

f ) Income tax/Sales tax/Excise/Octroi/Custom duty/ESIC/ Other

statues/Electricity Duty/demand disputed

4845.267

4472.812

g) Bills discounted

5011.609

6631.263

 

h) The Company has received claims amounting to US$ 662.68 lac (to the extent quantified) from two overseas entities (claimants) in respect of performance guarantees purportedly given by the Company as a second guarantor on behalf of an overseas entity in respect of contracts entered into between the claimants and the overseas entity. The Company has denied giving the guarantees and has disputed the claims and is in the process of taking appropriate legal actions and making suitable representations in the matter. The Company does not expect that any amount will become payable in respect of the claims made. No provision is made in respect of the same in the books of account.

 

i) No provision has been made in respect of claim of Rs. 10464.128 Million under the Biological Diversity Act, 2002 since in the opinion of the Company the claim has been incorrectly raised and has been disputed by the Company. The demand has been stayed by the High Court of Madhya Pradesh.

 

 

STATEMENT STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 31.12.2014

 

 (Rs. In Million)

Particulars

 

 

 

 

3 months ended

Preceding 3 months ended

Year to date figures for current 9 months period ended

31.12.2014

30.09.2014

31.12.2014

 

 

 

1. Income from operations

 

 

 

a) Net sales/ Income from operation (net of excise duty)

56917.524

69852.158

 

183237.645

b) Other operating income

856.148

817.791

2460.656

Total income from Operations(net)

57773.672

70669.949

185698.301

2.Expenses

 

 

 

a) Cost of material consumed

43662.087

40592.520

119963.335

b) Purchases of stock in trade

9054.106

25346.467

5095.730

c) Changes in inventories of finished goods, work-in-progress and stock-in-trade

(1303.374)

(544.667)

 

(1212.041)

d) Employees benefit expenses

580.769

461.347

1487.081

e) Depreciation and amortization expenses

420.120

244.870

1218.962

f) Other expenditure

4774.430

3611.822

11115.916

Total expenses

57188.138

69712.359

183068.983

3. Profit/ (Loss) from operations before other income, finance costs and exceptional items (1-2)

585.534

957.590

 

2629.318

4. Other income

160.771

74.488

340.040

5. Profit/ (Loss) from ordinary activities before finance costs and exceptional items (3+4)

746.305

1032.078

2669.358

6. Finance costs

1014.684

911.778

3059.783

7. Profit/(loss) from ordinary activities after finance costs but before exceptional items  (5-6)

(268.379)

120.300

 

(90.425)

8. Exceptional items

649.243

--

649.243

9. Profit/ (Loss) from ordinary activities before tax

380.864

120.300

558.818

10.Tax expenses

15.431

68.111

139.442

11.Net Profit / (Loss) from ordinary activities after tax (9-10)

365.433

52.189

 

419.376

12.Extraordinary Items (net of tax expenses Rs. Nil)

--

--

--

13.Net Profit / (Loss) for the period (11 -12)

365.433

52.189

419.376

14. Share of Profit/ (Loss) of Associates

--

--

--

15. Less: Minority Interest Share (Gain/ Loss)

--

--

--

16. Net Profit / (Loss) after taxes, minority and share of profi/ (loss) of associates (13+14+15)

365.433

52.189

 

419.376

17.Paid-up equity share capital (Face Value of Rs. 2/- per share)

68.121

668.121

 

668.121

Preference Share Capital (Face Value of Rs.100/- per share)

20.000

20.000

 

20.000

18. Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year

--

--

--

19.i) Earnings per share (before extraordinary items (of Rs. 2/- each) (not annualized) (in Rs. Per Share)

 

 

 

(a) Basic

(0.81)

0.16

(0.27)

(b) Diluted

(0.81)

0.16

(0.27)

 

 

 

 

19.i) Earnings per share (after extraordinary items (of Rs. 2/- each) (not annualized) (in Rs. Per Share)

 

 

 

(a) Basic

1.09

0.16

1.25

(b) Diluted

1.09

0.16

1.25

 

 

Particulars

 

 

 

3 months ended

Preceding 3 months ended

Year to date figures for current 9 months period ended

31.12.2014

30.09.2014

31.12.2014

 

 

 

 

A. Particulars of shareholding

 

 

 

1. Public Shareholding

 

 

 

- Number of shares

147366626

147366626

147366626

- Percentage of shareholding

44.11

44.11

44.11

2. Promoters and Promoters group Shareholding-

 

 

 

a) Pledged /Encumbered

 

 

 

Number of shares

28748390

28648390

28748390

Percentage of shares (as a % of total shareholding of the promoter and promoter group)

15.40

15.35

15.40

Percentage of shares (as a % of total share capital of the company)

8.61

8.58

8.61

 

 

 

 

b) Non  Encumbered

 

 

 

Number of shares

157945406

158045406

157945406

Percentage of shares (as a % of total shareholding of the promoter and promoter group)

84.60

84.65

84.60

Percentage of shares (as a % of total share capital of the company)

47.28

47.31

47.28

                                                                                                                                         

B. Investor Complaints (Nos.)

 

3 Months Ended

31.12.2014

Pending at the beginning of the quarter

-

Receiving during the quarter

8

Disposed of during the quarter

8

Remaining unreserved at the end of the quarter

-

 

 

 

SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED

 

(Rs. In Million)  

Particulars

 

 

 

3 months ended

Preceding 3 months ended

Year to date figures for current 9 months period ended

31.12.2014

30.09.2014

31.12.2014

 

 

 

 

1 Segment Revenue

 

 

 

Oils

44270.015

46070.370

128239.869

Vanaspati

2313.508

2552.029

7185.137

Seed Extraction

15592.807

9928.755

37974.859

Food Products

1143.116

1813.704

4548.789

Wind Turbine Power Generation

93.393

216.733

502.461

Others

93.393

216.733

502.461

Unallocated

2419.519

16379.020

27489.164

Total Segment Revenue

65832.358

76960.611

205940.279

Less : Inter segment Revenue

8914.834

7108.453

22702.634

Net Sales/Income from operations

56917.524

69852.158

183237.645

 

 

 

2 Segment Results

 

 

 

Oils

391.447

155.499

665.414

Vanaspati

6.739

6.827

19.343

Seed Extraction

53.789

(48.932)

98.830

Food Products

18.448

18.589

60.670

Wind Turbine Power Generation

40.203

145.003

259.617

Others

90.223

688.273

1578.703

Unallocated

--

--

--

Total

600.849

965.259

2682.577

Less: (i) Finance costs

1014.684

911.778

3059.783

(ii) Interest Income

(145.456)

(63.959)

(283.921)

(iii) Other unallocable expenditure net off un-allocable income

--

(2.860)

(2.860)

(iv) Exceptional Items

(649.243)

--

(649.243)

Total Profit before tax (before minority interest (Gain/ Loss) and Share of Profit/ (Loss) of associates)

380.864

120.300

558.818

 

 

 

 

Capital Employed

 

 

 

(Segment Assets less Segment Liabilities)

 

 

 

Oils

15583.761

13152.441

15583.761

Vanaspati

2331.109

3030.997

2331.109

Seed Extraction

18206.543

19469.340

18206.543

Food Products

1696.804

1653.675

1696.804

Wind Turbine Power Generation

4532.317

4537.995

4532.317

Others

9997.328

8857.896

9997.328

Unallocated

--

--

--

TOTAL

52347.862

50702.344

52347.862

 

NOTE

 

 

1.     The above results have been reviewed by the Statutory Auditors and Audit Committee and have been approved by the Board of Directors of the Company.



2.     The Employee Stock Options outstanding as on December 31, 2014 are as follows: 

 

Date of Grant

Opening Balances as on July 1, 2014

Issued during the quarter

Exercised during the quarter

Cancelled during the quarter

Closing Balances as on 31.12.2014

 

 

 

 

 

 

April 1, 2011

0.080

--

--

--

0.080

April 1, 2012

0.004

--

--

--

0.004

April 1, 2013

0.172

--

--

--

0.172

April 1, 2014

0.275

--

--

--

0.275

Total

0.531

 

 

 

0.531


Note: Cancellations of ESOP's granted to employees who have left shall be done at year end.


3. The Company has exercised the option provided under paragraph 46A of AS 11: The Effects of Changes in Foreign Exchange Rates inserted vide Notification dated December 29, 2011. Consequently, the exchange differences on long term foreign currency monetary items are dealt with in the following manner:


The exchange difference to the extent it relates to acquisition of depreciable asset, is adjusted to the cost of the depreciable asset, and depreciated over the balance life of the asset.


In other cases, the exchange difference is accumulated in a Foreign Currency Monetary Item Translation Difference Account, and amortised over the balance period of such long term asset/ liability.


Accordingly, during the nine months period ended December 31, 2014, the Company has 


(a) Adjusted exchange loss of Rs. 269.112 Million (Rs. 124.532 Million for the quarter) in respect of long term foreign currency monetary items relating to acquisition of depreciable fixed assets to the cost of fixed assets and


(b) Amortised exchange loss relating to long term foreign currency monetary item in other cases, over the life of the long term liability and included Rs. 171.136 Million (Rs.62.516 Million for the quarter under review) being the unamortised portion in Foreign Currency Monetary Item Translation Difference Account.


4. Pursuant to the Scheme of Amalgamation and Arrangement between the Company and Mac Oil Palm Limited, the Board has approved the following amounts as charge to Business Development Reserve during the quarter and nine months ended on December 31, 2014 :(Rs in Million)

 

Particulars

Quarter ended 31.12.2014

Nine months ended on 31.12.2014

Advertisement and sales promotion expenses (net of current tax)

100.763

247.573

Provision for doubtful debts and doubtful advances (net of deferred tax)

--

(0.330)

Additional Depreciation/Impairment on account of revaluation of fixed assets (Figures for nine months include Rs. 706.888 Million in line with the transition
provision as specified in Schedule II) 

82.607

958.777

Reversal of revaluation reserve on sale of Assets

1.018

1.018

Total

184.388

1207.038


5. With effect from April 01, 2011, the Company has adopted the principles of derivatives and hedge accounting of Accounting Standard (AS) 30 "Financial Instruments: Recognition and Measurement", to account for interest rate swaps. Accordingly, mark to market losses/(gain) of Rs. 5.683 Million (Including gain of Rs. 11.104 Million for the 3 months) on account of interest rate swaps designated as effective hedge has been recognized in the balance sheet under the head "Hedging Reserve".


6. Pursuant to the enactment of the Companies Act 2013, (the "Act"), the Company has, effective 1st April 2014, reviewed and revised the estimated useful lives and estimated residual value of its fixed assets, based on technical advice. As a result of the change, the consequential impact [after charging Rs. 433.484 Million (net of deferred tax thereon) in line with the transition provision specified in Schedule II] on the results for the quarter and nine months ended December 31, 2014 is not material.


7. During the quarter, the Company has sold its holding of 37,50,001 fully paid up equity shares of its subsidiary Company ' Gemini Edibles and Fats India Private Limited" for a consideration of Rs. 1099.242 Million. The surplus on the disposal of the said investments is shown as exceptional item.


8. Tax expenses of Rs. 139.442 Million comprises of Current Tax Rs. 132.900 Million and Deferred tax Rs. 6.542 Million

9. The results of subsidiary companies, associate/s, Trust and Joint Venture will be consolidated with the year end results.


10. The figures for the previous period have been regrouped/ reclassified to make them comparable with those of current period.

 

 

FIXED ASSETS

 

·         Freehold Land

·         Lease hold Land

·         Buildings

·         Plant and Machinery

·         Windmills

·         Furniture and Fixtures

·         Vehicles

·         Office Equipment

·         Trade Marks

·         Software  

 

 

PRESS RELEASE

 

RUCHI SOYA EYES 3-FOLD RISE IN REFINED OIL MARKET SHARE

 

 

4 April 2014, Hyderabad

 

The Rs 30,000 crore Ruchi Soya Industries Limited plans three fold increase in its market share in the packed sunflower refined oil segment from present 5-15% in the south in next two years.

 

Satendra Aggarwal, the chief operating officer of the group at the launch of Sunrich brand in Hyderabad, said the company has 7 lakh outlets and 18 plants, including six refineries and 12 crushing units across the country.

 

The edible oil industry in the country is likely to grow from 18 million tonne to 22 million tonne (MT) by 2015, including 50% growth in packed oils segment, in view of the awareness and youth preference, he said, adding that the current sunflower oil market in India was over Rs 180000.000 Million that is likely to grow by 10% CAGR by 2016-17.

 

However, the political unrest in Ukraine is likely to impact the sunflower imports next year. Both Ukraine and Russia account for the largest sunflower export to US, India and China, he said, adding that about 2 lakh MT came to India. The sunflower market next year will be dicey, he said.

 

According to him, India imports around 1.5 million tonnes of sunflower oil from Ukraine and Russia. Ukraine is the world's biggest sunflower oil producer and India imports almost all of its sunflower oil from there. Sunflower oil is India's second biggest imported edible oil after palm oil.

 

Ruchi Soya enjoys 18% share of the Indian edible oil market, said Aggarwal. He said studies indicate that India's per capita consumption of edible oil stands at 14 kg per annum.

 

Replying to query, he said the rupee depreciation against world currencies has negatively impacted the oil import trade forcing small timers closing their shop. He, however, predicted that the Indian currency now appears to be stable and may not be volatile in the near future under the current conditions.

 

The Ruchi Soya group, which has interests in renewable energy and plantations, is also entering the 17 MT tomato market in collaboration with Kagome and Mutsui . "Our tomato plant will be fully operational by next year" said Aggarwal. The company has already introduced Dal analogue, a substitute for dal with higher proteins and 'butter margarine' a substitute for butter with zero cholesterol. He says in the coming year 33% of edible oils will be in packed format and its ready-to-eat products on the Nutrela brand has also been making waves in the market.

 

 

RUCHI SOYA FORAYS INTO LUCRATIVE SUNFLOWER OIL MARKET IN SOUTH INDIA BY LAUNCHING SUNRICH

 

Company plans to capture 10 to 15% market share in 2016

 

 

 Hyderabad, April 3, 2014:- Ruchi Soya Industries Limited (Ruchi Soya), one of India’s leading FMCG companies and the largest manufacturer of healthier edible oils in India announces the launch of its premium refined sunflower oil brand ‘Sunrich’, in Karnataka, Andhra Pradesh, Tamilnadu and Kerala besides Odisha. The leader in edible oil business in the country, the company plans to take its share for Sunrich to 10 to 15 % in next two years and to 20% by 2017 in the sunflower oil category across states in South India.

 

Ruchi Soya is currently the market leader in the cooking oil category with the largest retail penetration of about 7 lakh retail outlets. The launch sees Ruchi Soya making more aggressive entry into the sunflower oil category, with an aim of making ‘Sunrich’ synonymous with taste and health, by leveraging the strength of its unique selling proposition ‘Clearer, Lighter and Healthier’.

 

Sunflower oil market in India has been growing magnificently owing to high growth of income levels, increasing trend towards spending, better living standards and growing health consciousness among Indian consumers. The current sunflower oil market in India is over INR 180 Billion of which, South is the biggest contributing over 70%. This is expected to grow with a CAGR of around 9.5% during 2013-14 to 2016-17.

 

Commenting on the launch, Mr. Satendra Aggarwal – COO, Ruchi Soya Industries Limited, said: “Ruchi Soya has been offering healthy and nutritious products to Indian families for over three decades now and continues to be one of India’s most trusted and popular providers of edible oil. Due to the immense faith that customers repose in us – Ruchi Soya is today India’s no. 1 edible oil manufacturer. The introduction of new Sunrich is the first step in our journey to establish a dominant presence in the sunflower oil segment in the country. Our vision is to make Sunrich a preferred choice among Indian families by providing them unbeatable value and a best in class product at a best in class price. With this launch our intent is to take our share for Sunrich in the sunflower oil category to 10% and then to 15% in next 3 years. In order, to achieve this we have planned both ATL and BTL marketing initiatives and are looking at tripling our distribution footprint for the brand. ”

 

The launch of Sunrich comes a time when the use of Sunflower oil, which is the fourth most used vegetable oil as cooking medium in the world, has increased in India in the recent years. The Sunflower oil market in India is increasing rapidly exacerbating the demand-supply gap for the raw material – sunflower seeds. India at present is able to meet only 20% of its demand for sunflower seeds from the domestic market with the balance 80% coming through imports.

 

Currently the sunflower oil production in the world is around 8-9 million tons annually, with a majority being produced by countries such as Ukraine and Russia respectively. The other major producers of sunflower oil are Argentina, France, Romania, Hungary, China, India and United States of America. States like Andhra Pradesh, Karnataka, Maharashtra and Haryana are gradually emerging as major hubs for the Sunflower seed production. South India is considered as the major market for Sunflower oil because of the increased market size. The entire consumer edible oil market in the state is about 230,000 tons per year (of which, sunflower oil contributes more than 50% to the total edible oil consumed.

 

Mr. Ajay Malik – VP South, Popular Division of Ruchi Soya Industries Limited, said “Ruchi Soya has great strengths in terms of infrastructure and distribution channels to make this new product a success. I am sure that once the consumer tries new Sunrich – a superior option to ordinary sunflower oils available in the market – he/she will get hooked to the product.”

 

“Our extensive consumer research reveals that consumers are becoming very conscious of what they eat and they are moving towards healthier alternatives in oils that do not have cholesterol and have minimal saturated fats. With the launch of the new Sunrich, we want to address the housewife’s requirement of oil that offers her both health and taste at an affordable price point” said Mr. Alok Mahajan – Head of Marketing, Popular Division of Ruchi Soya Industries Limited.

 

The new Sunrich refined sunflower oil is ‘Clearer, Lighter, Healthier’ as it is made by way of a unique 7-stage refining process so that it eliminates impurities. Sunrich contains Vitamins A, D & E. Cuisines and food cooked in Sunrich absorbs up to 15% less oil (compared to other ordinary sunflower oils).

 

The new Sunrich refined sunflower oil is available in 500ml, 1 Litre, 2 Litre pouches & 5 Litre jars and even 15 Litre bulk pack both jars and tins and is available across all grocers, neighborhood kirana stores and general stores. It is also available across modern retail chains, supermarkets and standalone self-service stores.

 

About RUCHI SOYA INDUSTRIES LIMITED Ruchi Soya is India’s leading FMCG Company, India’s number one cooking oil and soy food maker and marketer. An Integrated player from farm to fork, Ruchi Soya has secured access to oil palm plantations in India and other key regions of the world. Ruchi Soya is also the highest exporter of soya meal, lecithin and other food ingredients from India. Ruchi Soya is committed to renewable energy and exploring suitable opportunities in the sector.

 

 

SARVESH SHAHRA OF RUCHI SOYA RECEIVES THE TOP 40 UNDER FORTY BUSINESS LEADERS AWARD

 

·         Economic Times in partnership with Spencer Stuart organizes the award

 

·         The 40 awardees are selected by a jury chaired by Mr. Deepak Parekh, Chairman of HDFC

 

 

 May 02, 2014, Mumbai: Sarvesh Shahra, the third generation entrepreneur of Madhya Pradesh based Shahra family has been bestowed by one of the most prestigious and admired accolades “Top 40 under 40”. Economic Times in association with the Spencer Stuart, one of the world's leading global executive search and leadership consulting firms has instituted this award. Mr. Deepak Parekh, Chairman, HDFC presented the award to Mr. Sarvesh Shahra, Business Head & Specialty Ingredients, Ruchi Soya Industries Limited at a glittering event held in Mumbai.

 

The award aims at identifying 40 leaders under forty years of age who are the crème-de-la-crème of India Inc’s young upcoming leadership. The methodology comprised of two phases: research and assessment. A list of 2,000 business leaders was drawn up and this was condensed on the basis of due diligence. The jury considered 80 business leaders for the final round. While selecting the 40 winners, the jury considered combination of quantitative business results (growth, margins, and turnaround) as well as qualitative attributes (innovation, reputation, people leadership, and contribution to the ecosystem).

 

The Jury consists of eminent business leaders and personalities such as Mr. Deepak Parekh - Chairman, HDFC (Chair of the Jury); Anjali Bansal - Managing Director, Spencer Stuart India; Subodh Bhargava - Chairman, Tata Communications; Sanjeev Bikhchandani - Chief Executive Officer and Co-Founder, Info Edge India; Harish Manwani - Chief Operating Officer, Unilever, Non-Executive Chairman, Hindustan Unilever Ltd; D Shivakumar - Chairman and Chief Executive Officer, PepsiCo India and Janmejaya Sinha - Chairman, Boston Consulting Group, Asia Pacific.

 

An excited and overwhelmed Sarvesh Shahra said, “I am extremely grateful to the jury for recognizing the potential and honoring the work and efforts. Such awards act as an encouragement and motivation to perform well in the future. Observing, listening and learning from people around me has really helped me grow a lot in my professional life.”

 

Mr. Sarvesh Shahra heads the FMCG division of Ruchi Soya Industries Limited, one of India’s leading FMCG Company. He has played an instrumental role in expanding the product range of company’s flagship brand Nutrela.

 

Under the visionary leadership of Sarvesh, the FMCG Division expanded its retail and distribution network, formed new R&D, sales, marketing, and supply chain processes. After taking up responsibility of the FMCG Business in 2009, he spearheaded the task of demerging the Consumer Foods Business (FMCG) into a new entity and today, the Consumer Brands Division functions as an independent profit center.

 

With a vision and commitment to be an international player, Sarvesh has set up the operations for Ruchi Soya in European Union for sales and distribution to 15 countries within Europe.

 

Sarvesh has played a pivotal role in Ruchi Soya inking two joint ventures with Japanese multinationals. Ruchi Soya’s JV with Kagome and Mitsui aims to revolutionize the 17 Million Tons Indian Tomato market by setting up processing of tomatoes in the India. Ruchi Soya has teamed up with J Oil Mills and Toyota Tsusho Corporation to enter in to the business of production and marketing of high quality, functional edible oils.

 

INVESTMENT OF RS 1500.000 MILLION IN THE AGRI-PROCESSING SECTOR IN RAJASTHAN PLANS TO GENERATE AROUND 1,42,000 MAN-DAYS / ANNUM OF EMPLOYMENT

 

Mumbai; May 05, 2015: Ruchi Soya Industries Limited (Ruchi Soya), India’s number one edible oil and soya foods company today in the presence of the Hon’ble Chief Minister of Rajasthan, Smt. Vasundhara Raje entered into a MoU with the state. The MOU with a commitment of Rs. 1500.000 Million will focus on development of Agri-produce Procurement Centres, Warehousing for Agri Produce, Seed Research and Development and Renewable Power Generation in The State of Rajasthan. Under the Rajasthan Investment promotion Scheme, Ruchi Soya will develop Pre-harvest facilities such as providing high quality seeds, pesticides, insecticides to farmers to improve yield and post-harvest management including Warehouses, agri-waste procurement to boost farmers’ income. The facilities will also have Rooftop Solar Power Generation and Biomass briquette manufacturing facility.

 

Hon’ble Chief Minister of Rajasthan, Smt. Vasundhara Raje said, “The Rajasthan Government has signed the MoU with Ruchi Soya Industries Limited as part of its efforts to scale up the Public Private Partnership for Integrated Agriculture Development. This agreement will also help in utilising best agricultural practices to increase productivity.”

 

Mr Dinesh Shahra, Founder and Managing Director of Ruchi Soya Industries Limited said, “Ruchi Soya is also open to work on a model where farmers can sell certain part of their crop instantly and keep certain part of crop as collateral and avail bank loans. In line of Make in India Campaign we are also open to set up R and D facility to develop high yield seeds suitable for climatic conditions of Rajasthan. Ruchi Soya is already operating three oil seed crushing facilities in Rajasthan at Baran, Kota and Shri Ganganagar. This Chain of project will reach out to over 1 Lac farmers in Rajasthan and plans to generate around 1,42,000 man-days / annum of employment.”

 

About RUCHI SOYA INDUSTRIES LIMITED


Ruchi Soya Industries Limited, with a consolidated turnover close to USD 5Billion, is India’s leading FMCG and India’s number one edible oil and soya food company. An Integrated player from farm to fork, Ruchi Soya has secured access to oil palm plantations in India and other key regions of the world. The company is also the highest exporter of soya meal, lecithin and other speciality food ingredients. The company is committed to renewable energy and exploring suitable opportunities in the sector.

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

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

 

1]         INFORMATION ON DESIGNATED PARTY

No 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.63.57

UK Pound

1

Rs.99.67

Euro

1

Rs.70.93

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

MRI / KVT


 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

7

--Profitability

1~10

4

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

7

--CREDIT LINES

1~10

5

--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

 

49

 

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

 

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

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

 

 

RATING EXPLANATIONS

 

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

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

 

Unlimited

71-85

Aa

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

 

Large

56-70

A

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

 

Fairly Large

41-55

Ba

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

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

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

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NB

NEW BUSINESS

 

 

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

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