MIRA INFORM REPORT
|
Report No. : |
344869 |
|
Report Date : |
14.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
BIRLA CORPORATION LIMITED |
|
|
|
|
Registered
Office : |
9 / 1, R N Mukherjee Road, Birla Building, Kolkata – 700001, West
Bengal |
|
Tel. No.: |
91-33-66166777 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
25.08.1919 |
|
|
|
|
Com. Reg. No.: |
21-003334 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.770.089 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L01132WB1919PLC003334 |
|
|
|
|
IEC No.: |
0288003926 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCB2075J |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer of jute goods, cement polyvinyl chloride goods,
automotive trim parts. |
|
|
|
|
No. of Employees
: |
6325 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (76) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
Maximum Credit Limit : |
USD 75000000 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Birla Corporation Limited is a Flagship Company of M P Birla Group of
Companies. It is an established company incorporated in the year 1919 having an
excellent track record. Birla Corporation Limited has diversified interest in manufacturing of
jute, cement, polyvinyl chloride (PVC) goods and automotive trim parts. As on date, cement is the largest contributor to the company’s revenue
(over 90 per cent) with the balance coming from jute and other products. Subject has seven cement plants across four states: Rajasthan, Uttar
Pradesh, Madhya Pradesh and West Bengal. Available financial indicates company robust financial risk profile
marked by strong net worth position along with comfortable liquidity position
and good profit margin indicators of the company. 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 as fair. Business is active. Payments
terms are reported as 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 = AA+ |
|
Rating Explanation |
High degree of safety and carry low credit risk |
|
Date |
August 18, 2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Debt = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
|
Date |
August 18, 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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. A Gangwal |
|
Designation : |
Finance Head |
|
Contact No.: |
91-33-66166777 |
|
Date : |
09.10.2015 |
LOCATIONS
|
Registered Office : |
9 / 1, R N Mukherjee Road, Birla Building, Kolkata – 700001, West
Bengal, India |
|
Tel. No.: |
91-33-66166777 |
|
Fax No.: |
91-33-22482872/7988 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
10000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
1, Shakespeare Sarani (2nd Floor), Kolkata – 700 071,India |
|
Tel. No.: |
91-33-6603 3300, 3301, 3002 |
|
Fax No.: |
91-33-2288 4426 |
|
E-Mail : |
|
|
|
|
|
Principal Office : |
Ø UCO Bank
Building, 4th floor, Parliament Street, New Delhi - 110 001, India Tel. No.: 91-11- 2371 6214/ 6221/ 4014/ 4851-55/ 1476/ 5174 Fax No.: 91-11-2371 1611 Email ID: bcldelhi@vsnl.net Ø Industry House,
150, Churchgate Reclamation, Mumbai - 400 020, Maharashtra, India Tel. No.: 91-22-2204 8467/ 8468/ 5346/ 91-22-2204 3615 Fax No.: 91-22-2204 3615 E- Mail : bclbom@birlacorp.com |
|
|
|
|
Plants : |
Ø P.O. Birla
Vikas, Santa – 485 005, Madhya Pradesh, India Tel. No.: 91-7672 41 2000, 25 7844-47, 25 8002-03, 40 8083 Gram : Cement Fax No.: 91-7672 257456/ 257576 Email ID: admin@satnacement.com
Ø Madhavnagar, P.O.
Cement Factory, Chanderia, Chittorgarh – 312 021, Rajsthan, India Tel. No.: 91-1472 25 6601-08 91-22-2204 3615 Gram : Cement Fax No.: 91-1472 25 6609 Email ID: bclccw@sancharnet.in
Ø Durgapur – 713
203 Burdwan, West Bengal, India Tel. No.: 91-343 645 4051, 25 7844-47, 25 8002-03, 40 8083 Gram : Cement Fax No.: 91-343 258 5290 Email ID: bcldcw@sancharnet.in Ø Plot No. D/9 to
D/15, UPSIDC Industrial Area, Phase II, Amawan Road, P.O. Raebareli – 229 001, Uttar Pradesh, India Tel. No.: 91-535 211 7114-7116, 221 7118 Fax No.: 91-535 221 7239 Email ID: admin@rblcement.com Ø Birlapur – 743
318, 24 Parganas(S), West Bengal, India Tel. No.: 91-33 2420 9121-233 Gram : Jutweavar Fax No.: 91-33 2420 9828/ 9688/ 8179/ 9006 Email ID: bjm_birlapur@hotmail.com Ø 102, Narkeldanga
Main Road, Kolkata – 700 054, West Bengal, India Tel. No.: 91-33 2320 9241/ 9242 |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Harsh V. Lodha |
|
Designation : |
Chairman |
|
DIN No.: |
00394094 |
|
|
|
|
Name : |
Mr. Pracheta Majumdar |
|
Designation : |
Wholetime Director |
|
DIN No.: |
00179118 |
|
|
|
|
Name : |
Mr. Vikram Swarup |
|
Designation : |
Director |
|
DIN No.: |
00163543 |
|
|
|
|
Name : |
Mr. Anand Bordia |
|
Designation : |
Chairman |
|
DIN No.: |
00679165 |
|
|
|
|
Name : |
Mr. Brij Behari
Tandon |
|
Designation : |
Director |
|
DIN No.: |
00740511 |
|
|
|
|
Name : |
Mr. Dhruba Narayan Ghosh |
|
Designation : |
Director |
|
DIN No.: |
00012608 |
|
|
|
|
Name : |
Mr. Deepak Nayyar |
|
Designation : |
Director |
|
DIN No.: |
00348529 |
|
|
|
|
Name : |
Mrs. Shailaja Chandra |
|
Designation : |
Director (from 05.02.2015) |
|
DIN No.: |
03320688 |
|
|
|
|
Name : |
Mr. Bacch Raj Nahar |
|
Designation : |
Managing Director |
|
DIN No.: |
0049895 |
KEY EXECUTIVES
|
Name : |
A. Saraogi |
|
Designation : |
Chief Financial Officer |
|
|
|
|
Name : |
G. Sharma |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Mr. A. Gangwal |
|
Designation : |
Finance Head |
|
|
|
|
SENIOR MANAGEMENT TEAM : |
|
|
Name : |
G. Jayaraman |
|
Designation : |
Executive President |
|
|
|
|
Name : |
A. Agarwal |
|
Designation : |
President Corporate Development and Plannning |
|
|
|
|
Name : |
V. K. Hamirwasia |
|
Designation : |
President Birla Cement Works Chanderia Cement Works |
|
|
|
|
Name : |
P.C. Mathur |
|
Designation : |
President Satna Cement Works Raebareli Cement Works Vindhyachal Steel Foundry |
|
|
|
|
Name : |
R. Kakkar |
|
Designation : |
Senior Joint President Durgapur Cement Works Durga Hitech Cement |
|
|
|
|
Name : |
T. C. Jain |
|
Designation : |
Senior Joint President (Marketing) Satna Cement Works Raebareli Cement Works Durgapur Cement Works Durga Hitech Cement |
|
|
|
|
Name : |
K. K. Sharma |
|
Designation : |
President Corporate Social Responsibility |
|
|
|
|
Name : |
G.R. Verma |
|
Designation : |
Joint President Birla Jute Mills |
SHAREHOLDING PATTERN
AS ON 30.09.2015
|
Category of
Shareholder |
No. of Shares |
% of Holdings |
|
(A) Shareholding
of Promoter and Promoter Group |
||
|
|
|
|
|
|
37379183 |
48.54 |
|
|
11055008 |
14.36 |
|
|
11053748 |
14.35 |
|
|
1260 |
0.00 |
|
|
48434191 |
62.90 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
48434191 |
62.90 |
|
(B) Public
Shareholding |
||
|
|
|
|
|
|
9312991 |
12.09 |
|
|
24625 |
0.03 |
|
|
4150112 |
5.39 |
|
|
971223 |
1.26 |
|
|
14458951 |
18.78 |
|
|
|
|
|
|
7721515 |
10.03 |
|
|
|
|
|
|
2421357 |
3.14 |
|
|
1486277 |
1.93 |
|
|
2483056 |
3.22 |
|
|
128768 |
0.17 |
|
|
1701760 |
2.21 |
|
|
652528 |
0.85 |
|
|
14112205 |
18.33 |
|
Total Public
shareholding (B) |
28571156 |
37.10 |
|
Total (A)+(B) |
77005347 |
100.00 |
|
(C) Shares held by
Custodians and against which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
77005347 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of jute goods, cement polyvinyl chloride goods,
automotive trim parts. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30/60/90 days) |
|
|
|
|
Purchasing : |
Cash and Credit (30/60/90 days) |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged
|
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Customers : |
Wholesalers, Retailers, End Users and OEM’s
|
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No. of Employees : |
6325 (Approximately) |
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Bankers : |
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|
Facilities : |
(Rs.
In Million)
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Auditors : |
|
|
Name : |
H. P. Khandelwal and Company Chartered Accountants |
|
Address : |
Kolkata – 700001, West Bengal, India |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Sister Concerns : |
|
|
|
|
|
Subsidiaries : |
|
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90000000 |
Ordinary Shares |
Rs.10/- each |
Rs. 900.000 Million |
|
1000000 |
Preference Shares |
Rs. 100/- each |
Rs. 100.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 1000.000
Million |
Issued Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
77013416 |
Ordinary Shares |
Rs.10/- each |
Rs. 770.134
Million |
|
|
|
|
|
Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
77005347 |
Ordinary Shares |
Rs.10/- each |
Rs. 770.053
Million |
|
|
Add: Forfeited Ordinary Shares |
|
Rs. 0.036
Million |
|
|
|
|
|
|
|
Total |
|
Rs. 770.089 Million |
A) There has been no change/movements in the number of shares outstanding at
the beginning and at the end of the reporting period.
B) The company has
only one class of issued shares i.e. Ordinary shares having par value of Rs.
10/- per share. Each holder of Ordinary shares is entitled to one vote per
share and equal right for dividend. The dividend proposed by the Board of
Directors is subject to the approval of shareholders in the ensuring Annual
General Meeting. Expect in case of interim dividend. In the event of
liquidation, the ordinary shareholders are eligible to receive the remaining
assets of the company after payment of all preferential amounts, in proportion
to their shareholding.
C) The company does
not have any Holding Company/Ultimate Holding Company.
D) Details of
shareholders holding more than 5% shares in the company:
|
Ordinary Shares
of Rs. 10 each fully paid |
No. of Shares |
% of Holdings |
|
Hindustan Medical Institution |
7159460 |
9.30 |
|
Vindhya Telelinks Limited |
6380243 |
8.29 |
|
August Agents Limited |
6015912 |
7.81 |
|
Insilco Agents Limited |
6004080 |
7.80 |
|
Laneseda Agents Limited |
5994680 |
7.78 |
|
The Panjab Produce and Trading company Private Limited |
4520572 |
5.87 |
|
Life Insurance Corporation of India |
3948117 |
5.13 |
E) No Ordinary shares
have been reserved for issue under options and contracts/commitments for the
sale of shares/disinvestment as at the Balance sheet date.
F) No share have been
allotted or has been bought back by the company during the period of 5 years
preceding the date as at which balance sheet is prepared.
G) No securities
convertible into Equity/Preference shares issued by the company during the
year.
H) No calls are
unpaid by any Director or Officer of the Company during the year.
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 |
770.089 |
770.089 |
770.089 |
|
(b) Reserves & Surplus |
25499.583 |
24520.712 |
23730.508 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Minority Interest |
0.135 |
0.132 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
26269.807 |
25290.933 |
24500.597 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
11017.817 |
9163.090 |
8973.846 |
|
(b) Deferred tax liabilities (Net) |
2437.642 |
2350.733 |
2116.924 |
|
(c) Other long term
liabilities |
3531.794 |
2886.289 |
2504.841 |
|
(d) long-term
provisions |
311.777 |
271.517 |
362.236 |
|
Total Non-current
Liabilities (3) |
17299.030 |
14671.629 |
13957.847 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1408.274 |
1631.049 |
2778.896 |
|
(b) Trade
payables |
1880.865 |
1546.693 |
1267.058 |
|
(c) Other
current liabilities |
2355.023 |
4997.881 |
2162.305 |
|
(d) Short-term
provisions |
737.008 |
686.618 |
588.216 |
|
Total Current
Liabilities (4) |
6381.170 |
8862.241 |
6796.475 |
|
|
|
|
|
|
TOTAL |
49950.007 |
48824.803 |
45254.919 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
19255.106 |
18664.565 |
17282.331 |
|
(ii)
Intangible Assets |
20.501 |
37.862 |
45.933 |
|
(iii)
Capital work-in-progress |
1228.187 |
1417.428 |
2285.731 |
|
(iv)
Intangible assets under development |
0.000 |
2.478 |
0.000 |
|
(b) Non-current Investments |
3535.444 |
3425.781 |
8979.314 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2267.814 |
2059.060 |
1350.393 |
|
(e) Other
Non-current assets |
322.259 |
332.130 |
294.200 |
|
Total Non-Current
Assets |
26629.311 |
25939.304 |
30237.902 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
9554.224 |
9820.883 |
3727.998 |
|
(b)
Inventories |
5525.424 |
5156.011 |
5701.406 |
|
(c) Trade receivables |
881.250 |
747.114 |
749.629 |
|
(d) Cash
and cash equivalents |
4680.187 |
5023.442 |
2786.302 |
|
(e)
Short-term loans and advances |
1038.643 |
806.217 |
969.544 |
|
(f) Other
current assets |
1640.968 |
1331.832 |
1082.138 |
|
Total Current
Assets |
23320.696 |
22885.499 |
15017.017 |
|
|
|
|
|
|
TOTAL |
49950.007 |
48824.803 |
45254.919 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
32098.924 |
30163.521 |
26029.593 |
|
|
Other Income |
1560.775 |
1252.221 |
1271.164 |
|
|
TOTAL |
33659.699 |
31415.742 |
27300.757 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
5103.051 |
4921.876 |
5263.421 |
|
|
Purchases of Stock-in-Trade |
12.442 |
14.008 |
48.708 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(399.888) |
391.575 |
(1319.064) |
|
|
Employees benefits expense |
2254.347 |
2215.789 |
1930.747 |
|
|
Other expenses |
22113.605 |
20052.237 |
16177.398 |
|
|
Exceptional Items |
128.447 |
109.319 |
0.000 |
|
|
TOTAL |
29212.004 |
27704.804 |
22101.210 |
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
4447.695 |
3710.938 |
5199.547 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
783.726 |
855.957 |
648.574 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
3663.969 |
2854.981 |
4550.973 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1537.508 |
1330.586 |
1043.917 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
2126.461 |
1524.395 |
3507.056 |
|
|
|
|
|
|
|
Less |
TAX |
374.069 |
226.165 |
808.897 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1752.392 |
1298.230 |
2698.159 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1961.102 |
1499.100 |
1095.100 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Debenture Redemption
Reserve |
115.000 |
165.000 |
165.000 |
|
|
Interim Dividend |
0.000 |
0.000 |
192.500 |
|
|
Corporate Div. Tax on
Interim Dividend |
0.000 |
0.000 |
31.200 |
|
|
Proposed Final Dividend |
462.100 |
462.100 |
346.600 |
|
|
Corporate Div. Tax on
proposed Final Div. |
94.000 |
78.500 |
58.900 |
|
|
General Reserve |
1000.000 |
130.000 |
1500.000 |
|
|
BALANCE CARRIED
TO THE B/S |
2044.400 |
1961.102 |
1499.059 |
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
Export Earnings |
611.345 |
711.879 |
453.208 |
|
|
TOTAL EARNINGS |
611.345 |
711.879 |
453.208 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
259.110 |
201.713 |
161.855 |
|
|
Stores & Spares |
105.466 |
42.065 |
24.153 |
|
|
Capital Goods |
296.370 |
103.902 |
172.795 |
|
|
Others |
4.394 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
665.340 |
347.680 |
358.803 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
22.78 |
16.85 |
35.04 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
595.688 |
3218.853 |
507.722 |
|
Cash generated from operations |
3241.204 |
4022.982 |
2677.704 |
|
Net cash flow from (used in) operation |
2784.401 |
3621.762 |
1958.924 |
QUARTERLY RESULTS
(Rs.
In Million)
|
PARTICULARS |
30.06.2015 Unaudited |
|
Net Sales |
7874.400 |
|
Total Expenditure |
7295.900 |
|
PBIDT (Excl OI) |
578.500 |
|
Other Income |
285.600 |
|
Operating Profit |
864.100 |
|
Interest |
191.000 |
|
Exceptional Items |
(132.100) |
|
PBDT |
541.000 |
|
Depreciation |
365.700 |
|
Profit Before Tax |
175.300 |
|
Tax |
8.900 |
|
Provisions and contingencies |
NA |
|
Profit After Tax |
166.400 |
|
Extraordinary Items |
NA |
|
Prior Period Expenses |
NA |
|
Other Adjustments |
NA |
|
Net Profit |
166.400 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
5.46 |
4.30 |
10.37 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
13.86 |
12.30 |
19.98 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.71 |
3.47 |
10.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.06 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.50 |
0.55 |
0.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.65 |
2.58 |
2.21 |
STOCK
PRICES
|
Face Value |
Rs. 10.00/- |
|
Market Value |
Rs. 447.80/- |
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 |
770.089 |
770.089 |
770.089 |
|
Reserves & Surplus |
23730.508 |
24520.712 |
25499.583 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
24500.597 |
25290.801 |
26269.672 |
|
|
|
|
|
|
long-term borrowings |
8973.846 |
9163.090 |
11017.817 |
|
Short term borrowings |
2778.896 |
1631.049 |
1408.274 |
|
Current Maturities of Long
Term Debt |
507.722 |
3218.853 |
595.688 |
|
Total
borrowings |
12260.464 |
14012.992 |
13021.779 |
|
Debt/Equity
ratio |
0.500 |
0.554 |
0.496 |
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 |
26029.593 |
30163.521 |
32098.924 |
|
|
|
15.882 |
6.416 |
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 |
26029.593 |
30163.521 |
32098.924 |
|
Profit |
2698.159 |
1298.230 |
1752.392 |
|
|
10.37% |
4.30% |
5.46% |
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 |
Yes |
|
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
---- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
----- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
----- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
|
HIGH COURT OF CALCUTTA - ORIGINAL SIDE |
|
CASE STATUS INFORMATION SYSTEM |
|
Case Status : |
Pending |
|
Status Of : |
INCOME TAX APPEAL TENDERED 80 Of 2015 |
|
Litigants : |
COMMISSIONER OF INCOME TAX, KOLKATA - 2, Vs. M/S. BIRLA CORPORATION LIMITED |
|
Pet's Adv : |
S. LAMBA |
|
Res's Adv : |
CHANDRA SHEKHAR DAS |
|
Last Date of
Hearing : |
--- |
|
Next / Final Date
of Hearing : |
--- |
|
Case Updated On : |
Monday, June 01, 2015 |
|
Category : |
INCOME TAX : REVENUE |
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2015 |
As
on 31.03.2014 |
|
SHORT TERM
BORROWING |
|
|
|
From Banks |
|
|
|
Buyers Credit and Packing Credit in Foreign Currency |
435.311 |
134.465 |
|
|
|
|
|
Deposits |
|
|
|
Staff and Other Deposits |
0.000 |
83.824 |
|
|
|
|
|
Other Loans and
Advances |
|
|
|
Buyers Credit in Foreign Currency |
66.371 |
265.425 |
|
|
|
|
|
Total |
501.682 |
483.714 |
|
|
|
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10543572 |
01/01/2015 |
50,000,000.00 |
PUNJAB NATIONAL BANK |
18A, BRABOURNE ROAD, KOLKATA, West Bengal - 700001, INDIA |
C40703092 |
|
2 |
10493337 |
02/09/2014 * |
4,203,780,000.00 |
Axis Trustee Services Limited |
Axis House, 2nd Flr, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai, Maharashtra - 400025, INDIA |
C19203413 |
|
3 |
10434174 |
02/09/2014 * |
825,000,000.00 |
DBS Bank Ltd |
(Security Trustee of DBS Bank Ltd., Singapore), 4 A, NANDALAL BASU SARANI, KOLKATA, West Bengal - 700071, INDIA |
C22251326 |
|
4 |
10351742 |
06/12/2012 * |
1,287,500,000.00 |
DBS BANK LTD. |
(SECURITY TRUSTEE OF DBS BANK LTD. SINGAPORE), KOLKATA BRANCH, 4ANANDALAL BASU SARANI, KOLKATA, West Bengal - 700071, INDIA |
B65265852 |
|
5 |
10274079 |
06/12/2012 * |
920,000,000.00 |
DEUTSCHE BANK AKTIENGESELLSCHAFT |
TAUNUSANLAGE 12, FRANKFURT, - 60325, GERMANY |
B65279192 |
|
6 |
10259595 |
06/12/2012 * |
1,300,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17, R.Kamani Marg, Ballard Estate, MUMBAI, Maharashtra - 400001, INDIA |
B65171787 |
|
7 |
10219379 |
06/12/2012 * |
3,700,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17, R.Kamani Marg, Ballard Estate, MUMBAI, Maharashtra - 400001, INDIA |
B65263915 |
|
8 |
80016969 |
06/12/2012 * |
4,400,000,000.00 |
UCO BANK (LEAD BANK) |
FLAGSHIP CORPORATE
BRANCH, MACLEOD HOUSE, 3 NETAJ West Bengal - 700001, INDIA |
B65173379 |
* Date of charge modification
CEMENT DIVISION
OUTLOOK
Despite another challenging year, India's cement industry is cautiously optimistic. The demand-supply mismatch is expected to reduce in the next three years with slower pace of capacity addition and likely improvement in the demand. Increased energy-efficient investments, rising demand due to population growth, improved supply chain management and more transparent government policies and introduction of GST are expected to provide tailwinds for higher growth of the industry
As per the India Development Update Report presented by the World Bank recently, India's economic growth is expected to rise to 7.5 per cent in 2015-16, followed by further acceleration to 7.9 per cent in 2016-17 and 8 per cent in 2017-18. The above projection by the World Bank bodes well for cement industry as the growth in the demand for cement is closely linked to GDP growth rate.
The concerns of the industry in respect of energy and land are being taken care by the government by way of e-auctions of coal blocks and the introduction of land bill.
With the prediction of weak monsoon in the current financial year, the demand from the rural market may be impacted adversely. However, initiatives by the new government such as housing for all, smart cities, Swachh Bharat and Make in India campaign, Clean Ganga Project, infrastructure planning, concrete roads initiative and an increase in allocation of funds to states are expected to have a positive impact on the demand in the times to come. While the intentions are positive, ground level actions will help rev-up the economy in general.
JUTE DIVISION
OUTLOOK
As a result of dilution in compulsory use of jute bags under JPMA, demand of jute products has substantially reduced. All the jute mills are running at low capacity. Unless the compulsory JPMA requirements are restored the demand for jute goods is expected to be much less than total capacity of jute mills.
To overcome vagaries of government orders under JPMA, the jute division is laying emphasis on production of diversified jute goods and improving export of jute goods.
PROJECTS UNDERTAKEN
DURING THE YEAR
- Steel silo for storage of cement at Chanderia and additional Fly ash silo at Durgapur.
- Bucket Elevator for transfer of cement in place of Pneumatic Conveying System at Chanderia.
- Project for development of infrastructure, collection, storage and transportation of alternative fuel for Satna and Chanderia Units.
- Modification of existing Vertical Roller Pre-Grinder Mill at Raebareli.
- Covered yard for storage of Raw Material at Satna, Chanderia and Durgapur Units.
- Coal mill upgradation at Durgapur.
The Company has received environmental clearance for second phase expansion of New Chittor Cement Works from 1.2 MTPA to 2.7 MTPA.The project will be implemented once the limestone mining issue is resolved and environmental clearance for additional limestone mining is received.
The process of merger of Talavadi Cements Limited, a 98% subsidiary, with Birla Corporation Limited, is pending for approval at the Hon'ble Calcutta High Court.
Pursuant to the MoU, signed by the Company with the Assam Mineral Development Corporation (AMDC) to set up 1-million-ton cement plant at Umrangsu, Assam, the Shareholders' Agreement has been signed between the Company and AMDC. The matter is being followed-up with AMDC for mining lease of limestone reserves.
NEW PROJECTS
Considering factors such as market potential, proximity to fly-ash sources, availability of tax incentives etc. setting up of grinding-blending units in Madhya Pradesh, in Bihar, in Uttar Pradesh and Jharkhand has been approved by the Board of Directors in the last financial year. Land for the grinding unit at Narnagar and blending unit at Mundi has already been acquired and environment clearances is expected in next 3 to 4 months.
AWARDS AND
RECOGNITIONS
During the year, Company's Cement Unit: Satna Cement Works has been conferred the Greentech Gold Award 2014 for Outstanding Achievement in the areas of Environment Management and Corporate Social Responsibility. The Unit has received 5S certificate on 5th August 2014 from Quality Circle Forum of India, Hyderabad.
Further, Birla Cement Works has received the Greentech Safety Gold Award-2014 from Greentech Foundation, New Delhi for outstanding achievement in safety management and has also bagged Greentech Silver Award for Outstanding Achievement in Environment Management.
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2015 |
|
Demand notice for levying sales tax on packing material at the rate applicable on cement. Writ petition has been filed and the matter is pending before Hon'ble High Court, Chandigarh. |
16.107 |
|
Demand for Water Supply Charges under Rajasthan Irrigation and Drainage Act, 1954. Writ petition has been filed before the Hon'ble High Court, Rajasthan which has granted stay in the matter |
14.716 |
|
Additional U. P Sales Tax demanded by enhancing the value of cement. The case has been decided by Tribunal in Company's favour Department has filed revision petition before Hon'ble High Court, Allahabad against order of the Tribunal The High Court has remanded the case to UP Trade Tax Tribunal. |
14.640 |
|
Demand for interest on delayed payment of Entry Tax raised by the U.P Trade Tax Department. Allahabad. Writ petition has been filed before the Hon'ble High Court, Allahabad which has granted stay in the matter. |
13.211 |
|
Cenvat Credit taken on Goods Transporting Agency servIce on the basis of TR-6 challan disallowed. Appeal filed before the Custom, Excise and Service Tax Appellate Tribunal, New Delhi and stay has been granted in the matter. |
13.836 |
|
Stamp Duty for registration/execution of deed of certain Limestone Mining Lease. The matter is pending before the Hon'ble Supreme Court |
60.480 |
|
Renewable Energy Surcharge on account of shortfall of energy purchase from renewable energy sources as per Rajasthan Electricity Regulatory Commission notification dt. 23.03.2007. The matter is pending before the Hon'ble High Court, Rajasthan. |
172.667 |
|
Appeal filed by the Excise Department before Custom, Excise and Service Tax Appellate Tribunal, New Delhi on account of allowance of tolerance limit in weIghment of packed cement which was earlier allowed in favour of the Company |
14.193 |
|
Demand of penalty by Sub Divisional Officer, Raghuraj Nagar, for alleged impermissible mining in Village Naina Writ Petition has been filed and stay has been granted by Hon'ble M.P High Court, Jabalpur |
116.000 |
|
Demand under Income Tax Act, 1961 for Assessment Year 2011-12 & 2012-13, the matter is pending before Commissioner of Income Tax (Appeals) |
263.209 |
|
Demand for Entry Tax and Interest there on under U.P VAT Act. Case is pending before Hon'ble Supreme Court |
334.999 |
|
Demand of House Tax under Rajasthan Municipalities (Land and Building Tax) Rules 1961 raised by Municipal Board. Chittorgarh for the period 1987 to 2006. The matter IS pending before Hon'ble High Court, Rajasthan. |
25.173 |
|
Demand for Education cess by the Municipal Corporation. Satna. Appeal filed and pending before Hon'ble M.P High Court. Jabalpur |
11.829 |
|
Entry Tax as per The West Bengal Tax on Entry of Goods mto Local Areas Act, 2012 on the entry of goods m the state of West Bengal Matter is pending before Kolkata High Court |
70.856 |
|
Hon'ble High Court, Rajasthan, levied a compensation for alleged damage to the Chittogarh Fort. Special Leave Petition has been filed before the Hon'ble Supreme Court and stay has been granted in the matter |
45.000 |
|
Cenvat Credit taken on Steel Items disallowed by Excise Authiority which has demanded its recovery together with interest. Appeal filed before the Custom Excise and Service Tax Appellate Tribunal, New Delhi. The Tribunal has remanded the case to Commissioner, Central Excise, Jaipur. |
48.276 |
|
Other Claims/Disputes-Demands (being less than Rs. 100.00) pending m various legal forums for Sales Tax, Excise Duty and Service Tax, Rates and Taxes, E.S.I. Electricity Duty and Surcharge, Electricity Charges, Export Tax and other claims – Rs. 11.183, Rs. 62.418, Rs. 7.206, Rs. 0.491, Rs. 0.056, Rs. 5.949, Rs. 8.296, Rs. 20.907, (Previous Year Rs. 13.086, Rs. 69.985, Rs. 7.206, Rs. 0.491, Rs. 0.056, Rs. 9.915, Rs. 8.296 and Rs. 22.120) respectively. |
|
|
|
|
|
Total |
1235.192 |
UNAUDITED FINANCIAL RESULTS FOR THE THREE MONTHS AND SIX MONTHS ENDED
30TH, JUNE 2015
(Rs. In Million)
|
Particulars |
Three Months Ended |
|
30.06.2015 |
|
|
Unaudited |
|
|
|
|
|
Income from
Operations |
|
|
a)
Net Sales / Income from Operations (Net of excise duty) |
7734.800 |
|
b)
Other Operating Income |
139.600 |
|
Total
Income from Operations (net) |
7874.400 |
|
Expenditure |
|
|
a)
Cost of materials consumed |
1390.900 |
|
b)
Purchase of stock-in-trade |
6.100 |
|
c) Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
80.500 |
|
d)
Employee benefits expense |
567.400 |
|
e)
Depreciation and amortisation expense |
365.700 |
|
f)
Power and Fuel |
1849.600 |
|
g)Transport
and Forwarding Expenses |
|
|
-
On Finished products |
1557.800 |
|
-
On Internal material transfer |
443.800 |
|
h)Stores,
Spare Parts and Packing Materials |
649.500 |
|
i)Other
expenses |
750.300 |
|
Total Expenses |
7661.600 |
|
Profit from Operations
before Other Income and Finance Costs |
212.800 |
|
Other Income |
285.600 |
|
Profit
before finance costs |
498.400 |
|
Finance Costs |
191.000 |
|
Profit
after Finance Cost but before exceptional items |
307.400 |
|
Exceptional Items |
132.100 |
|
Profit
Before Tax |
175.300 |
|
Tax
Expenses (Includes Deferred Tax) |
8.900 |
|
Net
Profit after Tax |
166.400 |
|
Paid
up Equity Share Capital [Face Value - Rs.10 per share] |
770.100 |
|
Reserves
excluding revalution reserves as per balance sheet of previous accounting
year |
|
|
Basic
and diluted EPS for the period and for the previous year |
2.16 |
|
|
|
|
PARTICULARS OF SHAREHOLDING |
|
|
Public
Shareholding |
|
|
- Number of Shares |
28571156 |
|
- Percentage of Shareholding |
37.10% |
|
Promoters and
Promoter Group Shareholding |
|
|
a)
Pledged/Encumbered |
|
|
- Number of Shares |
Nil |
|
- Percentage of Shares (as a % of the Total Shareholding of promoter
and promoter group) |
-- |
|
- Percentage of Shares (as a % of the Total Share Capital of the
Company) |
-- |
|
b) Non
Encumbered |
|
|
- Number of Shares |
4843419 |
|
- Percentage of Shares (as a % of the Total Shareholding of Promoter
and Promoter Group) |
100.00% |
|
- Percentage of Shares (as a % of the Total Share Capital of the
Company) |
62.90% |
|
PARTICULARS |
Three months ended 30TH
JUNE 2015 |
|
B INVESTORS COMPLAINTS |
|
|
Pending at the beginning of the quarter |
Nil |
|
Received during the quarter |
3 |
|
Disposed during the quarter |
1 |
|
Remaining unresolved at the end of the quarter |
2 |
UNAUDITED SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED
|
Particulars |
Three Months Ended |
|
30.06.2015 |
|
|
Unaudited |
|
|
Segment Revenue |
|
|
a)
Cement |
7195.300 |
|
b)
Jute |
512.900 |
|
c)
Others |
26.600 |
|
Total |
7734.800 |
|
Less
: Inter segment revenue |
-- |
|
Net Sales / Income from Operations |
7734.800 |
|
|
|
|
Segment Results (Profit
before Interest and Tax) |
|
|
a)
Cement |
197.200 |
|
b)
Jute |
(0.500) |
|
c)
Others |
(3.000) |
|
Total |
193.700 |
|
|
|
|
Less:
i) Interest |
191.000 |
|
ii)
Other unallocable expenditure net of unallocable income |
(172.600) |
|
Total Profit Before Taxation |
175.300 |
|
|
|
(Segment
Assets - Segment Liabilities) |
|
|
a)
Cement |
22969.700 |
|
b)
Jute |
1237.200 |
|
c)
Others |
232.500 |
|
d)
Unallocated Capital Employed |
1920.500 |
|
Total Capital Employed in Segments |
26359.900 |
FIXED ASSETS
- Land
- Buildings
- Plant and
Machinery
- Furniture and
Fixture
- Vehicle
- Office
Equipments
- Computer
Software
PRESS RELEASE
BIRLA CORP TO BUY TWO LAFARGE INDIA
CEMENT UNITS
The transaction would be funded
through existing cash reserves and incremental debt, and is subject to CCI
approval
Mumbai: Birla Corporation Limited on Monday said it had agreed to acquire two cement assets from the local arm of Lafarge SA with a combined production capacity of around 5.15 million tonnes (mt) for a total enterprise value of Rs. 50000.000 Million.
The plants in Chhattisgarh and
Jharkhand were put up for sale after Holcim of Switzerland and France-based
Lafarge agreed this year to a global merger that required the divestment of the
assets to meet local competition rules.
Although driven by the antitrust
regulator, the Competition Commission of India (CCI), the deal also reflects
the perennially consolidating nature of the cement industry in India, which has
seen 20 mt of production capacity change hands in seven deals worth a combined Rs.160000.000 Million in the past two years. With some more
cement assets on the block, industry experts expect more consolidation.
Birla Corp. will acquire Lafarge’s
Sonadih Cement, a grinding unit in Jojobera, Jharkhand, along with its brands
Concreto and PSC. It will also acquire the Sonadih unit in Chhattisgarh.
The two units being sold by
Lafarge are among the most profitable cement plants in India, generating about Rs.700 crore in pre-tax profits a year even in the current
depressed market. That is partly because of the availability of raw materials
in close proximity to the plants.
“The acquisition, together with
the Concreto and PSC brands, perfectly fit into our strategic vision and
ambition of enhancing competitiveness in our chosen markets,” said Harsh
Lodha chairman of Birla Corp.
Besides regulatory clearances, the
deal is conditional upon Birla Corp. securing the limestone mining rights of
the two units. The mining rights may not be automatically transferred to Birla
Corp., but without access to the deposits estimated at 145 mt, the plants will
have to be mothballed.
The brands Concreto and PSC were
crucial for the closure of the transaction, which would take Birla Corp.’s
total annual capacity to manufacture the building material from 10 mt to 15 mt.
Concreto is one of the strongest
cement brands in India, and in some markets commands a premium of up to Rs.55 for a 50kg bag. PSC, too, is considered a premium brand.
“The deal would not have happened had
these brands not been a part of the deal. Birla Corp. was keen on these brands,
as they are established brands names in the relevant market,” a person directly
involved in the deal said on condition of anonymity.
Birla Corp.’s shares jumped 19.27%
to Rs.540.25 on BSE on a day the benchmark Sensex fell 0.67% to
27,878.27 points.
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 exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government official
or a family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 64.73 |
|
UK Pound |
1 |
Rs. 99.30 |
|
Euro |
1 |
Rs. 73.60 |
INFORMATION DETAILS
|
Information Gathered
by : |
PPT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILITY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
76 |
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.