MIRA INFORM REPORT
|
Report No. : |
348233 |
|
Report Date : |
05.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
BASF INDIA LIMITED (w.e.f.1967) |
|
|
|
|
Formerly Known
As : |
INDOPLAST LIMITED (w.e.f.1963) R. A. COLE LIMITED |
|
|
|
|
Registered Office
: |
3rd Floor, Vibgyor Towers, Plot No. C-62, ‘G’ Block, Bandra
Kurla Complex, Bandra (East), Mumbai – 400098, Maharashtra |
|
Tel. No.: |
91-22-66618000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of Incorporation
: |
13.05.1943 |
|
|
|
|
Com. Reg. No.: |
11-003972 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.432.900 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L33112MH1943FLC003972 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturing and Selling of agricultural solutions, performance products, chemicals, and functional materials. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (75) |
|
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 |
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exists |
|
|
|
|
Comments : |
BASF INDIA LIMITED is a world leading chemical company and Flagship
Company of BASF Group. It is an old and established company incorporated in the year 1943 having
an excellent track record. The company has incurred a loss during financial year 2015. However,
general financial position of the company is sound. Fundamentals of the
company are strong and healthy. The rating also takes into consideration rich experience of its
promoters, long established track record and strong operating efficiency of
the company. Trade relations are reported to be trustworthy. Business is active.
Payments terms reported to be regular and as per commitment. In view of the aforesaid, the company 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.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Non-Convertible Debentures = AAA |
|
Rating Explanation |
Highest degree of safety and carry lowest credit risk. |
|
Date |
November 28, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Commercial Paper = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
November 28, 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION DENIED BY
|
Name: |
Mr. Pradeep M. Chandan |
|
Designation: |
Company Secretary |
|
Contact No.: |
91-22-66618000 |
LOCATIONS
|
Registered Office : |
3rd Floor, Vibgyor Towers, Plot No. C-62, ‘G’ Block, Bandra
Kurla Complex, Bandra (East), Mumbai – 400098, Maharashtra, India |
|
Tel. No.: |
91-22-66618000 |
|
Fax No.: |
Not Available |
|
E-Mail: |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Plot Nos. 12 and 13, TTC Industrial Area, Thane-Belapur
Road, Turbhe, Navi Mumbai - 400 705, Maharashtra, India |
|
|
|
|
Factory 2 : |
Plot Nos. C-68 and C-68 Pt., TTC Industrial Area, MIDC,
Thane Belapur Road, Turbhe, Navi Mumbai - 400 613, Maharashtra, India |
|
|
|
|
Factory 3 : |
Bala/Thokur Village, Surathkal-Bajpe Road, Mangalore Taluka - 575030, Dakshina Kannada District, Karnataka, India |
|
|
|
|
Factory 4 : |
Bommasandra Industrial Area, Anekal Taluka, Bangalore, Karnataka, India |
|
|
|
|
Factory 5 : |
Plot Nos. 6214/6216, GIDC Phase IV Ankleshwar-393 002, Gujarat, India |
|
|
|
|
Factory 6 : |
Plot No. 8001, GIDC, Phase VI, Ankleshwar-393 002,
Gujarat, India |
|
|
|
|
Factory 7 : |
4B, Dahej Industrial Estate, Village Dahej, Taluka Vagra, District Bharuch -392130, Gujarat, India |
|
|
|
|
Factory 8 : |
Khasra No. 87/1, Village: Beer Plassis, Nalagarh, District: Solan, Himachal Pradesh, India |
|
|
|
|
Factory 9 : |
Gate No. 3, Jalan Industrial Complex, 46/48/49/53, Jangalpur, Howrah, West Bengal, India |
|
|
|
|
Branch Office : |
Located at :
|
DIRECTORS
As on 31.03.2015
|
Name : |
Dr. Raman Ramachandran |
|
Designation : |
Chairman and Managing Director |
|
Address: |
The Jackers, Flat No. 13F, 13th Floor, Carter Road, Bandra (West), Mumbai - 400050, Maharashtra, India |
|
Date of Appointment: |
01.10.2013 |
|
DIN No.: |
00200297 |
|
|
|
|
Name : |
Mr. R. A. Shah |
|
Designation : |
Director |
|
Address: |
Panorama, 2nd Floor, 203, Walkeshwar Road, Mumbai - 400006, Maharashtra, India |
|
Date of Appointment: |
24.04.1968 |
|
DIN No.: |
00009851 |
|
|
|
|
Name : |
Mr. R. R. Nair |
|
Designation : |
Director |
|
Address: |
Aavishkar, 785, 4th Block, 5th Cross,, Koramangala, Bangalore - 560034, Karnataka, India |
|
Date of Appointment: |
03.03.2001 |
|
DIN No.: |
00202551 |
|
|
|
|
Name : |
Mr. Gops Pillay |
|
Designation : |
Director |
|
Address: |
Flat A, 33/F, Block 2, Dynasty Court, 23 Old Peak Road, Hong Kong - 999999, South Africa |
|
Date of Appointment: |
30.04.2013 |
|
DIN No.: |
06599533 |
|
|
|
|
Name : |
Mr. Pradip P. Shah |
|
Designation : |
Director |
|
Address: |
72a Embassy Apartments, 7th Floor, Napean Sea Road, Mumbai, 400006, Maharashtra, India |
|
Date of Appointment: |
31.01.2000 |
|
DIN No.: |
00066242 |
|
|
|
|
Name : |
Mr. Arun Bewoor |
|
Designation : |
Director |
|
Address: |
20 Gilchrist Avenue, Harrington Road, Chetpet, Chennai, 600031, Tamil Nadu, India |
|
Date of Appointment: |
19.01.2010 |
|
DIN No.: |
00024276 |
|
|
|
|
Name : |
Dr. Andrea Frenzel |
|
Designation : |
Director Appointed In Casual Vacancy |
|
Address: |
Wachenheim A.D., Weinstr, Mittelbergstrasse - 67157, Germany |
|
Date of Appointment: |
01.01.2015 |
|
DIN No.: |
07070693 |
|
|
|
|
Name : |
Mr. Rajesh Naik |
|
Designation : |
Director |
|
Address: |
Iris 201, Kesar Garden, Sect - 20, Kharghar,, New Mumbai, 410210, Maharashtra, India |
|
Date of Appointment: |
28.08.2014 |
|
DIN No.: |
06935998 |
|
|
|
|
Name : |
Mr. Rainer Diercks |
|
Designation : |
Director |
|
Address: |
Am Schlittweg 8, Neuhofen, 67141, Germany |
|
Date of Appointment: |
23.01.2006 |
|
DIN No.: |
01725080 |
|
|
|
|
Name : |
Mr. Narendranath Jagannath Baliga |
|
Designation : |
Whole-Time Director |
|
Address: |
No. 1, Shreenath, Daya Marg, 2nd Cross,, Siddartha Nagar, Mysore, 570011, Karnataka, India |
|
Date of Appointment: |
01.01.2015 |
|
DIN No.: |
07005484 |
KEY EXECUTIVES
|
Name : |
Mr. Pradeep Chandan |
|
Designation : |
Chief Executive - Legal, Compliance and Company Secretary |
|
Designation : |
504, Mars, 'E' Wing, M.G Road, Bangur Nagar, Goregaon (East), Mumbai - 400090, Maharashtra, India |
|
Address: |
02.04.2010 |
|
PAN No.: |
AAFPC0417J |
|
|
|
|
Management Committee : |
|
SHAREHOLDING PATTERN
As on 30.09.2015
|
Category of
Shareholder |
No. of Shares |
% of Holdings |
|
|
|
|
|
(A)
Shareholding of Promoter and Promoter Group |
||
|
|
|
|
|
|
|
|
|
|
31743220 |
73.33 |
|
|
31743220 |
73.33 |
|
Total
shareholding of Promoter and Promoter Group (A) |
31743220 |
73.33 |
|
(B)
Public Shareholding |
||
|
|
|
|
|
|
721724 |
1.67 |
|
|
598027 |
1.38 |
|
|
30 |
0.00 |
|
|
1176388 |
2.72 |
|
|
295932 |
0.68 |
|
|
2792101 |
6.45 |
|
|
|
|
|
|
2165642 |
5.00 |
|
|
|
|
|
|
5674510 |
13.11 |
|
|
611431 |
1.41 |
|
|
298736 |
0.69 |
|
|
296594 |
0.69 |
|
|
1792 |
0.00 |
|
|
350 |
0.00 |
|
|
8750319 |
20.22 |
|
Total
Public shareholding (B) |
11542420 |
26.67 |
|
Total
(A)+(B) |
43285640 |
100.00 |
|
(C) Shares
held by Custodians and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
43285640 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Selling of agricultural solutions, performance products, chemicals, and functional materials. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
|
|
|
|
Auditor : |
|
|
Name : |
B S R and Co. LLP Chartered Accountants |
|
Address : |
1st Floor, Lodha Excelus, Apollo Mills Compound, N. M. Joshi Marg, Mahalakshmi, Mumbai-400 011, Maharashtra, India. |
|
|
|
|
Internal Auditors: |
|
|
Name : |
Mahajan and Aibara Chartered Accountants |
|
Address : |
1, Chawla House, 62, Wodehouse Road, Colaba, Mumbai-400 005, Maharashtra, India |
|
|
|
|
Cost Auditors: |
|
|
Name : |
R. Nanabhoy and Company Cost Accountants |
|
Address : |
Jer Mansion 70, August Kranti Marg, Mumbai-400 036, Maharashtra, India |
|
|
|
|
Secretarial
Auditor: |
|
|
Name : |
HS Associates |
|
Address : |
206, 2nd Floor, Tantia Jogani Industrial Estate, J. R. Boricha Marg, Opp. Lodha Excelus, Lower Parel (East), Mumbai-400 011, Maharashtra, India |
|
|
|
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Ultimate holding
company : |
BASF Societas Europaea (‘SE’) |
|
|
|
|
Other related
parties with whom transactions have taken place during the year Fellow
Subsidiaries : |
(Formerly known as BASF Auxiliary)
Cognis Specialty Chemicals (India) Private. Limited)
|
CAPITAL STRUCTURE
As on 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
54359715 |
Equity Shares |
Rs. 10/- each |
Rs. 543.600 Million |
|
|
|
|
|
Issued Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
43285640 |
Equity Shares |
Rs. 10/-
each |
Rs. 432.900
Million |
|
|
|
|
|
Subscribed & Paid-up Capital
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
43284958 |
Equity Shares |
Rs. 10/-
each |
Rs. 432.900
Million |
|
|
|
|
|
Reconciliation of number of equity shares outstanding as at the
beginning and at the end of reporting
Period
|
Particulars |
March 31, 2015 |
|
|
BASF Societas Eurpaea |
Number |
Rs. in million |
|
Shares outstanding at the beginning and at the end of the year |
43284958 |
432.900 |
Rights, preferences
and restrictions attached to the shares
The Company has one class of equity shares having a par value of Rs. 10/- 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, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.
Equity shares held by Ultimate Holding Company/Holding Company and/or
their associates or subsidiaries
|
Names of Shareholders |
Relationship |
No. of shares |
|
BASF Societas Eurpaea |
Ultimate Holding
Company |
20393259 |
|
BASF Schweiz AG |
Subsidiary of Ultimate
Holding Company |
8907900 |
|
BASF Construction Solutions GmbH (Formerly known as BASF Construction Chemicals GmbH) |
Subsidiary of Ultimate Holding Company |
1896061 |
Equity shares in the Company held by each shareholder holding more than
5% shares
|
Names of Shareholders |
Relationship |
No. of shares |
Percentage |
|
BASF Societas Eurpaea |
Ultimate Holding
Company |
20393259 |
48.37% |
|
BASF Schweiz AG |
Subsidiary of Ultimate
Holding Company |
8907900 |
20.58% |
Information on equity shares allotted without receipt of cash or
allotted as bonus shares or shares bought
Back
2515653 equity shares were allotted to the erstwhile shareholders of BASF Coatings India Private Limited and BASF Construction Chemicals India Private Limited consequent to the Scheme of Amalgamation from Appointed Date: April 1, 2010.
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
432.900 |
432.900 |
432.900 |
|
(b) Reserves & Surplus |
11187.700 |
12068.800 |
10992.600 |
|
(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) |
11620.600 |
12501.700 |
11425.500 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
9522.000 |
7417.600 |
2582.700 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
9.300 |
|
(c) Other long term
liabilities |
2404.500 |
2271.200 |
509.700 |
|
(d) long-term
provisions |
310.300 |
326.800 |
286.000 |
|
Total Non-current
Liabilities (3) |
12236.800 |
10015.600 |
3387.700 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
6480.000 |
3133.300 |
1011.800 |
|
(b) Trade
payables |
9149.700 |
11627.200 |
9426.800 |
|
(c) Other current
liabilities |
1869.600 |
2692.500 |
2460.700 |
|
(d) Short-term
provisions |
322.000 |
374.100 |
344.100 |
|
Total Current
Liabilities (4) |
17821.300 |
17827.100 |
13243.400 |
|
|
|
|
|
|
TOTAL |
41678.700 |
40344.400 |
28056.600 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
13402.700 |
5089.800 |
4118.200 |
|
(ii)
Intangible Assets |
108.200 |
171.000 |
235.800 |
|
(iii)
Capital work-in-progress |
741.800 |
7921.400 |
3193.200 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
10.400 |
0.000 |
|
(d) Long-term Loan and Advances |
1404.200 |
1790.500 |
1772.600 |
|
(e) Other
Non-current assets |
1322.600 |
1387.400 |
675.100 |
|
Total Non-Current
Assets |
16979.500 |
16370.500 |
9994.900 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
9907.700 |
11460.100 |
8952.500 |
|
(c) Trade
receivables |
9304.500 |
8597.600 |
6815.300 |
|
(d) Cash
and cash equivalents |
1276.900 |
150.600 |
155.500 |
|
(e)
Short-term loans and advances |
3599.300 |
3257.500 |
2080.000 |
|
(f) Other current
assets |
610.800 |
508.100 |
58.400 |
|
Total
Current Assets |
24699.200 |
23973.900 |
18061.700 |
|
|
|
|
|
|
TOTAL |
41678.700 |
40344.400 |
28056.600 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
47057.600 |
44298.900 |
39406.300 |
|
|
|
Other Income |
99.000 |
78.300 |
39.200 |
|
|
|
TOTAL |
47156.600 |
44377.200 |
39445.500 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
21529.600 |
22315.800 |
18460.100 |
|
|
|
Purchases of Stock-in-Trade |
13080.600 |
10606.400 |
10483.300 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
337.700 |
(1578.300) |
(922.700) |
|
|
|
Employees benefits expense |
3444.100 |
3298.800 |
2929.900 |
|
|
|
Other expenses |
7335.300 |
6814.300 |
5936.200 |
|
|
|
Exceptional Items |
(291.900) |
(104.300) |
(95.400) |
|
|
|
TOTAL |
45435.400 |
41457.000 |
36886.800 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
1721.200 |
2920.200 |
2558.700 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
955.600 |
161.300 |
171.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
765.600 |
2758.900 |
2387.500 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
1424.200 |
711.000 |
601.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(658.600) |
1943.600 |
1690.300 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
10.400 |
664.900 |
549.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(669.000) |
1278.700 |
1140.800 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1000.000 |
810.000 |
808.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
886.200 |
936.300 |
|
|
|
Dividend |
173.100 |
173.100 |
173.100 |
|
|
|
Tax on Dividend |
35.300 |
29.400 |
29.400 |
|
|
BALANCE CARRIED
TO THE B/S |
122.600 |
1000.000 |
810.000 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(15.45) |
29.54 |
26.35 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
0.000 |
122.100 |
109.900 |
|
Cash generated from operations |
(808.400) |
790.500 |
2873.600 |
|
Net cash generated from / (used in) operating activities |
(963.300) |
77.300 |
2332.200 |
QUARTERLY RESULTS
|
Particulars |
30.06.2015 |
30.09.2015 |
|
UnAudited |
1st Quarter |
2nd Quarter |
|
Net Sales |
13496.800 |
11182.300 |
|
Total Expenditure |
12886.000 |
11484.900 |
|
PBIDT (Excl OI) |
610.800 |
(302.600) |
|
Other Income |
26.200 |
3.300 |
|
Operating Profit |
637.000 |
(299.300) |
|
Interest |
268.400 |
276.000 |
|
Exceptional Items |
1183.700 |
204.700 |
|
PBDT |
1552.300 |
(370.600) |
|
Depreciation |
417.400 |
424.100 |
|
Profit Before Tax |
1134.900 |
(794.700) |
|
Tax |
207.700 |
(207.700) |
|
Provisions and contingencies |
NA |
NA |
|
Profit After Tax |
927.200 |
(587.000) |
|
Extraordinary Items |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
|
Other Adjustments |
NA |
NA |
|
Net Profit |
927.200 |
(587.000) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
(1.42) |
2.89 |
2.89 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
3.66 |
6.36 |
6.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.58) |
6.00 |
6.80 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.06) |
0.16 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debts/Networth) |
|
1.38 |
0.85 |
0.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.39 |
1.34 |
1.36 |
STOCK
PRICES
|
Face Value |
Rs.10.00/- |
|
Market Value |
Rs.912.15/- |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
432.900 |
432.900 |
432.900 |
|
Reserves & Surplus |
10992.600 |
12068.800 |
11187.700 |
|
Net
worth |
11425.500 |
12501.700 |
11620.600 |
|
long-term borrowings |
2582.700 |
7417.600 |
9522.000 |
|
Short term borrowings |
1011.800 |
3133.300 |
6480.000 |
|
Current Maturities of
Long-Term Debts |
109.900 |
122.100 |
0.000 |
|
Total
borrowings |
3704.400 |
10673.000 |
16002.000 |
|
Debt/Equity
ratio |
0.324 |
0.854 |
1.377 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
39406.300 |
44298.900 |
47057.600 |
|
|
|
12.416 |
6.227 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
39406.300 |
44298.900 |
47057.600 |
|
Profit |
1140.800 |
1278.900 |
(669.000) |
|
|
2.89% |
2.89% |
(1.42%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
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 |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
|
Case Details |
|||||||
|
Bench:- Bombay |
|||||||
|
Lodging No. : |
APPL/226/2012 |
Failing Date:- |
31.03.2012 |
Reg. No:- |
AAP/432/2012 |
Reg. Date:- |
06.08.2012 |
|
Main Matter |
|||||||
|
Lodging No. : |
ARBPL/282/2008 |
Reg. No:- |
ARBP/339/2008 |
||||
|
Petitioner:- |
LANDCOM PROPERTY PRIVATE LIMITED |
Respondent:- |
BASF INDIA LIMITED |
||||
|
Petn.Adv:- |
THAKORDAS MADGAVKAR (0) |
Resp. Adv.: |
M/S. DHRUV LILADHAR AND COMPANY (151) |
||||
|
District:- |
MUMBAI |
||||||
|
Bench:- |
DIVISION |
Category:- |
APPEALS |
||||
|
Status:- |
Admitted (Unready) |
Stage:- |
FOR CIRCULATION (ORIGINAL SIDE MATTERS) |
||||
|
Last Date:- |
02.04.2013 |
||||||
|
Last Coram:- |
HON’BLE SHRI JUSTICE DR. D.Y. CHANDRACHUD HON’BLE SHRI JUSTICE A.A. SAYED |
||||||
|
|
|
||||||
|
Act. : |
C.P.C.- (Non-Interlocutory Order) |
||||||
PERFORMANCE
Sales net of excise at Rs.47057.600 million, represents an increase of 6.2% over the previous year.
The new chemical production site at Dahej, Gujarat involving an investment of Rs.10000.000 Million commenced commercial production during the year. Due to additional interest, depreciation, pre-marketing expenses and start-up related costs on account of Dahej site, the Company reported a loss for the financial year ended 31st March, 2015. Consequently, profitability of certain business units connected with Dahej viz., Performance Materials, Dispersion and Pigments, Care Chemicals and Monomers businesses, was also impacted. Delayed and irregular monsoon adversely affected the performance of the Agricultural Solutions business of the Company during the year.
The Performance Products segment includes performance chemicals, dispersions and pigments, care chemicals, nutrition and health products and paper chemicals.
The Chemicals segment of the Company comprising of intermediates, petrochemicals and monomers businesses registered a significant increase in sales during the year under review.
MANAGEMENT DISCUSSION
AND ANALYSIS REPORT
The global economic environment in recent years has been challenging and marked by increasing volatility and uncertainty. The economy grew by 6.9% in 2013-14 and is expected to grow by 7.4% in the fiscal year 2014-15. This increase is attributable to the improved performance of the industrial sector and stable growth in the services sector. Industry and service sectors are expected to grow at 5.9% and 10.6% respectively in 2014-15. The manufacturing sector is expected to perform better and grow at 6.8% in 2014-15. However, poor monsoon affected the agricultural sector.
In 2014-15, the domestic automobile industry continued to be hit due to high inflation and interest rates. Production of four-wheeler light vehicles grew by 2.3% while two-wheelers showed improved performance registering a growth of 9.6%. Due to increasing exports of generic medicines and greater penetration in rural markets, the domestic pharmaceutical retail market is expected to have grown at 10% during 2014-15.
With the focus of the new government at the Centre on removal of infrastructural bottlenecks, the Indian construction industry is expected to have grown by 4.5% in 2014-15.
Steep decline in oil prices, high foreign exchange reserves, improved business sentiments, cut in interest rates by the Reserve Bank of India and potential impact of reform initiatives of the new Government are some of the key factors which are likely to lead to the overall stability of the Indian economy.
The products manufactured by the Company serve several sectors including agriculture, automotive, pharmaceuticals, construction, consumer durables, consumer care, paper, paint, leather and textiles.
AGRICULTURAL
SOLUTIONS
The Agricultural Solutions business includes agrochemicals like insecticides, herbicides, fungicides and plant growth regulators.
The products of the Company’s Agricultural Solutions business are dependent on the monsoon. A delayed and irregular monsoon in 2014 adversely affected crop areas as well as herbicide applications in Central India. Generic competition in off-patent fungicides negatively impacted the sales price. These factors have affected the performance of this business during the year under report.
The Company introduced two new crop protection products namely: XELORATM and ZAMPROTM, which have been well received by farmers during the year.
The Company continued to promote sustainable farming by educating farmers on the safe use of agrochemicals.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
80056920 |
15/07/2000 |
10,000,000.00 |
ICICI BANK LIMITED |
215,FREE PRESS HOUSE,, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
- |
UNAUDITED FINANCIAL RESULTS FOR QUARTER ENDED JUNE 30, 2015
(Rs. In Million)
|
|
|
Particulars |
3 Months ended 30.06.2015 |
|
1 |
|
Income from
Operations |
|
|
|
|
Sales/Income from Operations (Net of Excise) |
13458.700 |
|
|
|
b) Other Operating Income |
38.100 |
|
|
Total Income from
Operations (Net) |
13496.800 |
|
|
2 |
Expenses |
|
|
|
|
a) |
Cost of Materials consumed |
5295.000 |
|
|
b) |
Purchase of Stock in trade |
3044.600 |
|
|
c) |
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
1781.000 |
|
|
d) |
Employee benefit expenses |
842.000 |
|
|
e) |
Depreciation and amortization expense |
417.400 |
|
|
f) |
Other expenses |
1923.400 |
|
|
Total Expenses |
13303.400 |
|
|
|
|
|
|
|
3 |
|
Profit /(Loss) from
operations before other income, finance costs and exceptional items |
193.400 |
|
4 |
Other Income |
26.200 |
|
|
5 |
Profit /(Loss) from
ordinary activities before finance costs and exceptional items |
219.600 |
|
|
6 |
Finance Costs |
268.400 |
|
|
7 |
Profit /(Loss) from
ordinary activities after finance costs but before exceptional items |
(48.800) |
|
|
8 |
Exceptional Items |
1183.700 |
|
|
9 |
Profit /(Loss) from
ordinary activities before tax |
1134.900 |
|
|
10 |
Tax Expense |
207.700 |
|
|
11 |
Net Profit /(Loss)
from ordinary activities after tax |
927.200 |
|
|
|
Extraordinary Items |
0.000 |
|
|
13 |
Net Profit / (Loss)
for the period |
927.200 |
|
|
14 |
Paid up equity share capital (Eq. shares of Rs.10/- each) |
432.900 |
|
|
15 |
Reserve excluding revaluation reserves |
|
|
|
16 |
|
Earnings per share (EPS) |
|
|
|
a) |
Basic and diluted EPS before Extraordinary items for the period for the year to date and for the previous year (not annualised) |
21.42 |
|
|
b) |
Basic and diluted EPS after Extraordinary items for the period for the year to date and for the previous year (not annualised) |
21.42 |
|
|
c) |
Basic and diluted EPS before Exceptional items for the period for the year to date and for the previous year (not annualised) |
(1.13) |
|
|
|
|
|
|
A |
|
PARTICULARS OF
SHAREHOLDING |
|
|
1 |
|
Public Shareholding |
|
|
|
|
- No. of Shares |
11542420 |
|
|
|
- Percentage of Shareholding |
26.7% |
|
2 |
|
Promoters and promoter group shareholding |
|
|
|
|
a) Pledged/Encumbered |
|
|
|
|
- Number of shares |
|
|
|
|
- Percentage of shares ( as a % of the total shareholding of the promoter and promoter group) |
--- |
|
|
|
- Percentage of shares (as a % of the total share capital of the Company) |
-- |
|
|
|
b) Non- encumbered |
|
|
|
|
- Number of shares |
31743220 |
|
|
|
- Percentage of shares ( as a % of the total shareholding of the promoter and promoter group) |
100.00% |
|
|
|
- Percentage of shares (as a % of the total share capital of the Company) |
73.3% |
|
Particulars |
3 Months Ended Ended 30.06.2015 |
|
Pending at the beginning of the quarter |
0 |
|
Received during the quarter |
0 |
|
Disposed of during the quarter |
0 |
|
Remaining unresolved at the end of the
quarter |
0 |
Note :
The above results for the quarter ended 30th June 2015 have
been reviewed by the Audit Committee at its meeting held on July 28, 2015 and
thereafter approved by the Board of Directors at its meeting held on July 28,
2015.
2. During the previous year, the Company had capitalised plants at Dahej
amounting to Rs. 88.440 Million, from July 2014 in relation to which
incremental depreciation, interest, pre-commissioning market development and
other operating costs were included in the financial results.
3. The Agricultural Solution business, which constitutes significant part of
sales for this quarter is seasonal in nature and hence the quarterly figures are
not representative of the full year.
4. During the current quarter, the Company has sold its non-core assets (i.e.
residential properties) and has recognised a profit of Rs.283.200 Million which
is disclosed as an Exceptional item. During the previous quarter and year ended
31st March 2015, the Company had recognized a profit of Rs.133.600 Million and
Rs.291.900 Million respectively which was disclosed as an exceptional item.
5. During the current quarter, the Company has divested its textile chemical
business pursuant to global divestment of textile business and has recognised
profit of Its. 9.005 Lakhs which is disclosed as an exceptional item
6. Pursuant to the notification dated 29th December 2011 issued by the Ministry
of Corporate Affairs amending the Accounting Standard 11, the Company has
exercised the option in terms of Para 46A inserted in the Standard for long
term foreign currency monetary assets and liabilities. Consequently following
amounts of exchange loss are taken to Capital work in progress / Fixed Assets.
7. Tax expense includes provision for current income tax (based on estimated
average effective annual income tax rate) and deferred tax.
8. Cost of materials consumed for the current quarter includes higher impact
for inventory provision amounting to Rs. 80.000 Million.
9. The figures for the preceding 3 month ended 31st March 2015 are the
balancing figures between audited figures in respect of the full previous
financial year and the published year to date figures up to the end of the
quarter of the relevant financial year. Also the figures upto the end of the
third quarter were only reviewed and not subjected to audit.
SEGMENT-WISE REVENUE,
RESULT AND CAPITAL EMPLOYED
(Rs. In Million)
|
Sr. No. |
Particular |
Quarter ended |
|
|
|
30.06.2015 |
|
|
|
(Unaudited) |
|
1. |
Segment Revenue |
|
|
|
|
2977.600 |
|
|
b. Performance Products |
4579.100 |
|
|
|
723.700 |
|
|
|
4951.600 |
|
|
|
264.800 |
|
|
Total |
13496.800 |
|
|
Less: Inter
Segment Revenue |
-- |
|
|
Net Sales / Income
from Operations |
13496.800 |
|
2. |
Segment Result |
|
|
|
Profit/(Loss) before tax and Interest |
|
|
|
|
360.800 |
|
|
b. Performance Products |
245.700 |
|
|
|
(102.800) |
|
|
|
(232.800) |
|
|
|
16.300 |
|
|
Total |
287.200 |
|
|
Less : i.
Finance Cost |
268.400 |
|
|
ii. Other Un-allocable expenditure net off un-allocable income |
67.600 |
|
|
Total Profit/(Loss)
before tax and exceptional items |
(48.500) |
|
|
Exceptional Items |
1183.700 |
|
|
Total Profit/(Loss) before tax |
1134.900 |
|
3. |
Segment Capital
Employed |
|
|
|
(Segment Assets – Segment Liabilities) |
|
|
|
|
2957.000 |
|
|
b. Performance Products |
7938.300 |
|
|
|
703.400 |
|
|
|
5626.500 |
|
|
|
732.400 |
|
|
|
(5409.600) |
|
|
Total capital
employed in Segment |
12548.000 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2015 (Rs.
in Million) |
31.03.2014 (Rs.
in Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from others |
9522.000 |
7417.600 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Loans repayable on demand from banks |
6480.000 |
3133.300 |
|
|
|
|
|
Total |
6575.220 |
10550.900 |
FIXED ASSETS
- Freehold Land
- Buildings
- Plant and
Machinery
- Furniture and
Fixtures
- Vehicles
- Office
Equipments
- Computers
WEBSITE DETAILS
NEWS
08.03.2014
BASF GIVES RS 170.000
MILLION BOOST TO INDIA BUSINESS
Opens global R and D centre in Turbhe, mulling further investments
BASF has opened a global research and development (R&D) centre at its manufacturing facility in Turbhe, Navi Mumbai.
"The initial capital expenditure for the centre will be 2.000 million euros (Rs 170.000 Million) and it will have 60 scientists to start with," said Raman Ramachandran, head, South Asia, and chairman, BASF companies in India.
This facility has been set up by BASF under its group company BASF Chemicals India Private Limited and is not part of the listed Indian entity.
Harald Lauke, president, biological and effect systems research, said: "By 2020, we plan to conduct 50% research activities outside Europe, of which one quarter (25%) will be in Asia Pacific and the other (25%) in the US," he said.
Lauke said the company is also evaluating further investment options in R&D in Asia Pacific, including India.
BASF has over 700 researchers in Asia and this is set to increase to 3,600 in six years. "It will be difficult to give out numbers for the India operations," he said.
An Agronomical Research and Development Field Station in Pune, established for the agricultural business, is among the other initiatives. BASF has 16 R and D facilities and a host of technology centres across the globe.
In India, the company the company has eight production sites, including those in Mangalore, Ankleshwar and Chennai. In Mangalore, BASF already has an R and D facility.
The company made it India entry as a commodity seller over 100 years ago. It makes chemicals, plastics, performance products, crop protection products and has interest in the oil and gas sector.
"We have already initiated an integrated manufacturing facility for production of polyurethanes, care chemicals and polymer dispersions in Dahej, Gujarat. The new facility, costing Rs.10000.000 Million, will start production sometime in 2014," said Ramachandran.
Ramachandran said BASF's India turnover has grown from Rs.46000.000 Milllion in 2008 to Rs.79000.000 Million in 2013. "We have almost doubled business in the last five years. The India business contributes about 2% to the company's global sales of around euro 80 billion," he said.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.45 |
|
|
1 |
Rs.100.96 |
|
Euro |
1 |
Rs.72.10 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SUD |
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 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
75 |
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.