MIRA INFORM REPORT

 

 

Report No. :

344978

Report Date :

15.10.2015

 

IDENTIFICATION DETAILS

 

Name :

ITC LIMITED (w.e.f. 1974)

 

 

Formerly Known As :

Imperial Tobacco Company of India Limited

 

 

Registered Office :

Virginia House, 37, Jawaharlal Nehru Road, Kolkata – 700071, West Bengal

Tel. No.:

91-33-22880034

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

24.08.1910

 

 

Com. Reg. No.:

21-001985

 

 

Capital Investment / Paid-up Capital :

Rs.8015.500 Million

 

 

CIN No.:

[Company Identification No.]

L16005WB1910PLC001985

 

 

IEC No.:

0288001079

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACI5950L

 

 

Legal Form :

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

 

 

Line of Business :

The subject is currently focused on four groups: FMCG, Hotels, Paperboards, Paper and Packaging and Agri Business.

 

The business groups comprise the following:

 

  • FMCG: Cigarettes – Cigarettes, Cigars, etc.
  • : Others – Branded Packaged Foods Business (Staples, Snacks and
    • Meals; Daisry and Beverages; Confections); Appare; Education and
    • Stationery Products; Personal Care Products; Safety Matches and 
    • Agarbattis.
  • Hotels : Hotolloring

 

  • Paperboards, Paper and Packaging – Paperboards, Paper Including specialty
            • Paper and Packaging includeing
            • Flexibles.
  • Agri Business: - Agri Commodities such Soya, spices, coffee and leaf tabacoco.

 

 

No. of Employees :

Information declined by the management 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Aaa (90)

 

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

 

Maximum Credit Limit :

USD 870000000

 

 

Status :

Excellent

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist

 

 

Comments :

Subject was incorporated on24th August, 1910. It is the largest cigarette manufacturer and seller in the country. It currently operates in five business segments: FMCG Cigarettes; FMCG Others; Hotels; Paperboards, Paper and Packaging; and Agri Business. It is a leader in the Indian Cigarette market, driven by an established portfolio of brands and a superior distribution network. It is a well-established and a reputed company having excellent track record.

 

The company possesses a healthy financial profile marked by strong networth base, low debt, good profitability and robust liquidity.

 

Directors are reported to be experienced and respectable businessmen.

 

The ratings also take into consideration, an acceptable share price of Rs.345/- recorded by the company as against a face value of Rs.1.00 as on October 13, 2015.

 

Trade relations are reported as fair. Business is active. Payment are reported to be regular and as per commitments.

 

In view of Excellent business risk profile with a presence in diverse  business and dominant position in the Indian Cigarette market, the company can be considered good for normal business dealings at usual trade terms and conditions.

 

 

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

Long Term Rating = AAA

Rating Explanation

Have highest degree of safety and carry lowest credit risk.

Date

24.07.2015

 

 

Rating Agency Name

CRISIL

Rating

Short Term Rating = A1+

Rating Explanation

Very strong degree of safety and carry lowest credit risk.

Date

24.07.2015

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2015.

 

 

 

 

INFORMATION DENIED

 

Management non cooperative (91-33-22880034/ 22889371)

 

 

LOCATIONS

 

Registered Office / Service Centre :

Virginia House, 37, Jawaharlal Nehru Road, Kolkata – 700071, West Bengal, India

Tel. No.:

91-33-22886426/ 22880034/ 22889371

Fax No.:

91-33-22882358

E-Mail :

itcsec@cal3.vsnl.net.in

itcisc@vsnl.net

isc@itc.in

Website :

www.itcportal.com

 

 

Hotel :

Oberio Flight Services, Sahar Airport Road, Andheri (East), Mumbai - 400099, Maharashtra, India

 

 

Headquarters :

84 (Old No.90) Chamiers Road, Chennai - 600018, Tamilnadu, India

Tel. No.:

91-44-42081508

Fax No.:

91-44-24340294

 

 

Head Office :

ITC Hotel Kakatiya Sheraton and Totheyrs, 63-3-1187, Begumpet, Hyderabad -500016, Andhra Pradesh, India

Tel. No.:

91-40-23400132

Fax No.:

91-40-23401045

 

 

Factory 1:

Integrated Industrial Estate, Sidcuil, Plot No. 1, Sector 11, Hardwar – 249403, Uttarkhand, India

Tel. No.:

91-1334-322483

Fax No.:

91-1334-235383

 

 

Factory 2:

P O Box 2277, Thiruvottur, Chennai – 600019, Tamilnadu, India

Tel. No.:

91-44-25733121

Fax No.:

91-44-25733852

 

 

Factory 3:

Plot No. B 27, MIDC Ranjangaon, Pune - 412222, Maharashtra, India

 

 

Factory 4:

Peenya Industrial Area, 1st Phase, Bangalore - 560058, Karnataka, India

 

 

Corporate Office :

Kakatiya Sheraton and Totheyrs, Begumpet, Hyderabad, Telangana, India

 

 

Branch Office :

International Sales No. 106, Sardar Patel Road, Secunderabad – 500003, Andhra Pradesh, India

Tel. No.:

91-40-27843768

Fax No.:

91-40-27810034

 

 

PLANTS :

 

 

 

Cigarette Factories :

  • Bangalore

Meenakunte Village, Jallahobli, Bangalore (North) - 562157, Karnataka, India

 

  • Kolkata

93/1, Karl Marx Sarani, P. B. No. 17203, Kolkata - 700043, West Bengal, India

 

  • Munger

Basdeopur P. O., District Munger - 811202, Bihar, India

 

  • Saharanpur

Sardar Patel Marg, P. O. Box No. 25, Saharanpur - 247001, Uttar Pradesh, India

 

  • Ranjangaon

Plot No. B-27, MIDC Ranjangaon, Taluka Shirur District Pune - 412220, Maharashtra , India

 

 

Green Leaf Threshing Plants :
  • Anaparti

East Godavari District, Anaparti - 533 342, Andhra Pradesh, India

 

  • Chirala

Prakasam, P. B. No. 1, Chirala, Prakasam - 523157, Andhra Pradesh, India

 

  • Nanjangud

Immavu and Adakanahalli Village Nanjangud Taluk Mysore - 571 302, Karnataka, India

 

 

Packaging and Printing Plants

 
  • Chennai

Post Box No. 2277, Tiruvottiyur, Chennai - 600 019, Tamilnadu, India

Tel No.: 91-44-25733121/25733171/25733181

Fax No.: 91-44-25733852

 

  • Haridwar

Plot No. 1, Sector 11, Integrated Industrial Estate, Haridwar – 249403, Uttarkhand, India

 

  • Munger

Basdeopur P. O., District Munger, Munger - 811 202, Bihar, India

Tel No.: 91-6344-220505/16/17 / 2201892/222126/142/146

Fax No.:  91-6344-222443/222839

 

 

Paper and Paperboard Mills :

·         Bollaram

Anrich Industrial Estate, Village Bollarum, Medak – 502325, Telangana, India

 

·         Sarapaka

Sarapaka, Khammam District - 507128, Telangana, India

 

·         Thekkampatty

Thekkampatty Village, Vivekanandapuram Post, Mettupalayam Taluk, Coimbatore – 641113, Tamilnadu, India

 

·         Tribeni

P O Chandrahati, District Hooghly – 712 504, West Bengal, India

 

 

Cast Coating Plant :

·         Anrich Industrial Estate, Village Bollarum, Medak District - 502325, Andhra Pradesh, India

 

·         Design and Technology Centre

86, Industrial Estate, Phase I, Udhyog Nagar, Gurgaon - 122016, Haryana, Indi

 

 

Foods Factories :

·         Haridwar

Plot No. 1, Sector 11 Integrated Industrial Estate Haridwar - 249403 Uttarakhand, Inda

 

·         Ranjangaon

Plot No. D-1, MIDC Ranjangaon Taluka Shirur District Pune – 412220, Maharashtra, India

 

 

Personal Care Products

Factories :

·         Haridwar

Plot No. 1, Sector 11, Integrated Industrial Estate, Haridwar -249403, Uttarakhand, India

 

·         Manpura

Village Manpura, Tehsil Baddi, District Solan - 174101, Himachal Pradesh , India

 

 

HOTELS :

 

 

 

Owned Hotels :

·         Agra

ITC Mughal* Taj Ganj Agra - 282 001, Uttar Pradesh, India

 

·         Bengaluru

ITC Gardenia* 1, Residency Road, Bengaluru-560025, Karnataka, India

 

ITC Windsor* 25, Windsor Square, Golf Course Road, Bengaluru - 560052, Karnataka, India

 

·         Chennai

My Fortune, Chennai, Cathedral Road, Chennai - 600086, Tamilnadu, India

 

·         Jaipur

ITC Rajputana* Palace Road, Jaipur- 302006, Rajasthan, India

 

·         Kolkata

ITC Sonar*, 1, JBS Haldane Avenue, Kolkata - 700046, West Bengal, India

 

·         Mumbai

ITC Maratha*, Sahar, Mumbai - 400099, Maharashtra, India

 

ITC Grand Central*, 287, Dr. B. Ambedkar Road, Parel, Mumbai - 400012, Maharashtra, India

 

·         New Delhi

ITC Maurya*, Sardar Patel Marg, Diplomatic Enclave, New Delhi -110021, India

 

Sheraton New Delhi Hotel, District Centre, Saket,New Delhi - 110017, India

 

 

Licenced Hotels :

·         Kota

Welcom Heritage, Umed Bhawan Palace, Palace Road, Kota 324001, Rajasthan, India

 

·         Port Blair

Fortune Resort Bay Island, Marine Hill, Port Blair -744101

 

·         Vadodara

WelcomHotel Vadodara, R. C. Dutt Road, Alkapuri, Vadodara - 390007, Gujarat, India

 

 

Hotels Under Operating Services :

·         Aurangabad

WelcomHotel Rama International, R-3, Chikalthana, Aurangabad-  431210, Gujarat, India

 

·         Chennai

Sheraton Park Hotel & Towers, 132, T. T. K. Road, Chennai - 600018, Tamilnadu India

 

·         Hyderabad,

ITC Kakatiya*, 6-3-1187, Begumpet, Hyderabad - 500016, India

 

·         Visakhapatnam

WelcomHotel Grand Bay, Beach Road, Visakhapatnam - 530002, Andhra Pradesh, India

 

 

Choupal Saagars - Rural

Services Centres  :

Located At

 

·         Amravati

·         Badaun

·         Bahraich

·         Chandouli

·         Chindwara

·         Dewas

·         Dhar

·         Gonda

·         Hardoi

·         Hathras

·         Itarsi

·         Jagdishpur

·         Mandsaur

·         Mhow

·         Nagda

·         Parbhani

·         Pilibhit

·         Ratlam

·         Sehore

·         Ujjain

·         Vidisha

·         Wardha

·         Washim

 

 

LIFESTYLE RETAILING :

 

 

 

Design And Technology Centre :

Gurgaon, Haryana, India

 

 

Wills Lifestyle Stores :

Located At:

 

·         Agra

·         Ahmedabad

·         Aurangabad

·         Belgaum

·         Bengaluru

·         Bhopal

·         Bhubaneshwar

·         Chandigarh

·         Coimbatore

·         Dehradun

·         Ernakulam

·         Ghaziabad

·         Gurgaon

·         Gurgaon

·         Hyderabad

·         Indore

·         Jalandhar

·         Jaipur

·         Jammu

·         Kanpur

·         Kolkata

·         Lucknow

·         Ludhiana

·         Mumbai / Thane

·         Nagpur

·         Nashik

·         New Delhi

·         Noida

·         Panjim

·         Patna

·         Pune

·         Raipur

·         Ranchi

·         Siliguri

·         Surat

·         Vadodara

·         Visakhapatnam

·         John Players Stores*

·         Bengaluru

·         Chennai

·         Hyderabad

·         Kolkata

·         Mumbai / Thane

 

 

Division Headquarters :

31, Sarojini Devi Road, Secunderabad, Hyderabad – 500003, Telangana, India  

 

 

DIRECTORS

 

AS ON 31.03.2015

 

Name :

Mr. Yogesh Chander Deveshwar

Designation :

Whole Time Director

Address :

10, Fountain Couret, 7/1 Little Russell Street, Kolkata – 700071, West Bengal, India

Date of Birth/Age :

04.02.1947

Date of Appointment :

05.02.2012

DIN No.:

00044171

PAN No.:

AEBPD7640A

Voter ID No.:

DWK1395706

 

 

Name :

Mr. Nakul Anand

Designation :

Whole Time Director

Address :

NO. 18, Gren Avenue, (Benind Pocket D-111 Vasant Kunj) Kisan Garh, New Delhi – 110070, India

Date of Birth/Age :

05.11.1956

Date of Appointment :

30.07.2014

DIN No.:

00022279

PAN No.:

AAEPA2880J

Voter ID No.:

WDC0078410

 

 

Name :

Mr. Pradeep Vasant Dhobale

Designation :

Whole Time Director

Address :

7, Fountain Couret, 7/1 Little Russell Street, Kolkata – 700071, West Bengal, India

Date of Birth/Age :

06.12.1956

Date of Appointment :

30.07.2014

DIN No.:

00274636

PAN No.:

ABVPD5587B

 

 

Name :

Mr. Kurush Noshir Grant

Designation :

Whole Time Director

Address :

10, Fountain Couret, 7/1 Little Russell Street, Kolkata – 700071, West Bengal, India

Date of Birth/Age :

22.08.1957

Date of Appointment :

26.07.2013

DIN No.:

00336288

PAN No.:

ADXPG8211B

Voter ID No.:

HZG1094432

 

 

Name :

Mr. Anil Baijal

Designation :

Director

Address :

E-524, 2ND Floor, Greater Kailash, New Delhi – 110048, India

Date of Birth/ Age :

16.10.1946

Date of Appointment :

AAFPB9909G

PAN No.:

NEC1675263

Voter ID No.:

15.09.2014

DIN No.:

01608892

 

 

Name :

Shilabhadra Banerjee

Designation :

Non-Executive Directors

 

 

Name :

Arun Duggal

Designation :

Non-Executive Directors

 

 

 

 

Name :

Angara Venkata Girija Kumar

Designation :

Non-Executive Directors

 

 

Name :

Serajul Haq Khan

Designation :

Non-Executive Directors

 

 

Name :

Robert Earl Lerwill

Designation :

Non-Executive Directors

 

 

Name :

Suryakant Balkrishna Mainak

Designation :

Non-Executive Directors

 

 

Name :

Sunil Behari Mathur

Designation :

Non-Executive Directors

 

 

Name :

Pillappakkam Bahukutumbi Ramanujam

Designation :

Non-Executive Directors

 

 

Name :

Sahibzada Syed Habib-ur-Rehman

Designation :

Non-Executive Directors

 

 

Name :

Meera Shankar

Designation :

Non-Executive Directors

 

 

Name :

Krishnamoorthy Vaidyanath

Designation :

Non-Executive Directors

 

 

KEY EXECUTIVES

 

Name :

Rajiv Tandon

Designation :

Chief Financial Officer

 

 

Name :

Biswa Behari Chatterjee

Designation :

Executive Vice President and Company Secretary

 

 

Name :

Kannadiputhur Sundararaman Suresh

Designation :

General Counsel

 

 

Audit Committee:

Name :

S B Mathur

Designation :

Chairman

 

 

Name :

A Baijal

Designation :

Member

 

 

Name :

A Duggal

Designation :

Member

 

 

Name :

P B Ramanujam

Designation :

Member

 

 

Name :

K Vaidyanath

Designation :

Member

 

 

Name :

K N Grant

Designation :

Invitee

 

 

Name :

R Tandon

Designation :

Invitee

 

 

Name :

R Parasuram Invitee (Head of Internal Audit)

Designation :

Invitee

 

 

Name :

B B Chatterjee

Designation :

Secretary

 

 

CSR and Sustainability Committee

Name :

Y C Deveshwar

Designation :

Chairman

 

 

Name :

A V Girija Kumar

Designation :

Member

 

 

Name :

R E Lerwill

Designation :

Member

 

 

Name :

S B Mainak

Designation :

Member

 

 

Name :

M Shankar

Designation :

Member

 

 

Name :

B B Chatterjee

Designation :

Secretary

 

 

Security holders Relationship Committee:

Name :

A V Girija Kumar

Designation :

Chairman

 

 

Name :

P V Dhobale

Designation :

Member

 

 

Name :

K N Grant

Designation :

Member

 

 

Name :

K Vaidyanath

Designation :

Member

 

 

Name :

B B Chatterjee

Designation :

Secretary

 

 

Nomination and Compensation Committee:

Name :

S H Khan

Designation :

Chairman

 

 

Name :

S Banerjee

Designation :

Member

 

 

Name :

Y C Deveshwar

Designation :

Member

 

 

Name :

S S H Rehman

Designation :

Member

 

 

Name :

M Shankar

Designation :

Member

 

 

Name :

K Vaidyanath

Designation :

Member

 

 

Name :

B B Chatterjee

Designation :

Secretary

 

 

Independent Directors Committee

Name :

A Baijal

Designation :

Chairman

 

 

Name :

S Banerjee

Designation :

Member

 

 

Name :

A Duggal

Designation :

Member

 

 

Name :

S B Mathur

Designation :

Member

 

 

Name :

P B Ramanujam

Designation :

Member

 

 

Name :

S S H Rehman

Designation :

Member

 

 

Name :

M Shankar

Designation :

Member

 

 

SHAREHOLDING PATTERN

 

AS ON 30.09.2015

 

Category of Shareholder

Total No. of Shares

Total Shareholding as a % of Total No. of Shares

(A) Shareholding of Promoter and Promoter Group

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

 

 

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

 

 

(B) Public Shareholding

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

 

 

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

1066706274

13.29

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

9640244

0.12

http://www.bseindia.com/include/images/clear.gifInsurance Companies

1741183425

21.69

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

1213129819

15.11

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

449152300

5.60

http://www.bseindia.com/include/images/clear.gifForeign Portfolio Investments Corporation

449152300

5.60

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

4479812062

55.81

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

 

 

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

252886384

3.15

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

664462068

8.28

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

129377035

1.61

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

2480102142

30.90

http://www.bseindia.com/include/images/clear.gifNon Resident Indians

46470633

0.58

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

2413116253

30.06

http://www.bseindia.com/include/images/clear.gifNRIs/Foreign Individuals

519255

0.01

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

15479370

0.19

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

4516631

0.06

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

3526827629

43.94

Total Public shareholding (B)

8006639691

99.75

Total (A)+(B)

8006639691

99.75

(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)

0

0.00

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

19855380

0.25

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

19855380

0.25

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

8026495071

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

 

 

 

Products :

 

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Information declined by the management 

 

 

Bankers :

Banker Name

State Bank Of India

Branch Address

34; Jawaharlal Nehru Road, Kolkata-  700071, West Bengal, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

 

SECURED LOAN

As on

31.03.2015

As on

31.03.2014

SHORT TERM BORROWING

 

 

Loans from Banks

 

 

Cash credit facilities

0.200

01.400

Total

0.200

01.400

 

Note:

 

Cash credit facilities are secured by hypothecation of inventories of the Company, both present and future.

 

Financial Institute:
  • The Industrial Credit and Investment Corporation of India Limited, 163; Backbay Reclamation, Bombay- 400020, Maharashtra, India.

 

  • Industrial Finance Corporation Of India, 2; Fairlie Place, Kolkata- 700001, West Bengal, India

 

  • Tata Burroughs Limited, Manish Commercial Contre, 216;-A; Dr. Annie Desan  T Road . Worli, Bombay- 400025, Maharashtra, India

 

 

Auditors :

 

Name :

Deloitte Haskins and Sells

Chartered Accountants

Address :

Bengal Intelligent Park, Building Alpha, 1st Floor, Block - EP and GP Sector - V, Salt Lake Electronics Complex, Kolkata - 700 091, West Bengal, India

PAN N Income-tax PAN of auditor or auditor's firm :

AADFD5357J

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Subsidiaries :

a) Srinivasa Resorts Limited

b) Fortune Park Hotels Limited

c) Bay Islands Hotels Limited

d) WelcomHotels Lanka (Private) Limited, Sri Lanka

e) Landbase India Limited

f) Russell Credit Limited and its subsidiary

Greenacre Holdings Limited

g) Technico Pty Limited, Australia and its subsidiaries

Technico Agri Sciences Limited

Technico Technologies Inc., Canada

Technico Asia Holdings Pty Limited, Australia and its subsidiary

Technico Horticultural (Kunming) Co. Limited, China

h) Wimco Limited

i) Pavan Poplar Limited 1

j) Prag Agro Farm Limited 1

k) ITC Infotech India Limited and its subsidiaries

ITC Infotech Limited, UK

ITC Infotech (USA), Inc. and its subsidiary

Pyxis Solutions, LLC, USA

l) Wills Corporation Limited

m) Gold Flake Corporation Limited

n) ITC Investments & Holdings Limited and its subsidiary

MRR Trading & Investment Company Limited (w.e.f. 30.03.2015)

o) Surya Nepal Private Limited

p) King Maker Marketing, Inc., USA

q) BFIL Finance Limited and its subsidiary

MRR Trading & Investment Company Limited (upto 29.03.2015)

r) North East Nutrients Private Limited

The above list does not include ITC Global Holdings Pte. Limited, Singapore (in liquidation)

 

 

 

Associates:

a) Gujarat Hotels Limited

b) International Travel House Limited

- being associates of the Company, and

c) Tobacco Manufacturers (India) Limited, UK - of which the Company is an associate.

 

 

Associates of the Company’s subsidiaries:

a) Russell Investments Limited

b) Classic Infrastructure and Development Limited

c) Divya Management Limited

d) Antrang Finance Limited

- being associates of Russell Credit Limited, and

e) ATC Limited

- being associate of Gold Flake Corporation Limited

 

 

Joint Ventures

a) Maharaja Heritage Resorts Limited

b) Espirit Hotels Private Limited

c) Logix Developers Private Limited

 

 

Joint Venture of the Company’s subsidiary

a) ITC Essentra Limited

- being joint venture of Gold Flake Corporation Limited

 

 

Employee Trusts where there is significant influence:

a) IATC Provident Fund

b) IATC Staff X Provident Fund (merged with IATC Provident Fund w.e.f. 01.08.2014)

c) ITC Defined Contribution Pension Fund

d) ITC Management Staff Gratuity Fund

e) ITC Employees Gratuity Fund

f) ITC Gratuity Fund ‘C’

g) ITC Pension Fund

h) ILTD Seasonal Employees Pension Fund

i) ITC Platinum Jubilee Pension Fund

j) Tribeni Tissues Limited Gratuity Fund

k) ITC Bhadrachalam Paperboards Limited Management Staff Pension Fund

l) ITC Bhadrachalam Paperboards Limited Gratuity Fund ‘A’

m) ITC Bhadrachalam Paperboards Limited Gratuity Fund ‘C’

n) ITC Hotels Limited Employees Superannuation Scheme

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2015

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

10000000000

Equity Shares

Rs.1/- each

Rs.1000.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

8015519541

Equity Shares

Rs.1/- each

Rs.8015.500 Million

 

 

 

 

 

 

Reconciliation of number of Ordinary Shares outstanding

 

Equity Shares

Number of Shares

Rs. In Million

As at beginning of the year

7953182950

7953.200

Add: Issue of Shares on exercise of Options

62248830

62.200

As at end of the year

87761

00.100

8015519541

8015.500

 

 

Shareholders holding more than 5% of the Ordinary Shares in the Company

 

Name of Shareholder

Number of Shares

% holding

Tobacco Manufacturers (India) Limited

1985564880

24.77

Life Insurance Corporation of India

1155035797

14.41

Specified Undertaking of the Unit Trust of India

896724540

11.19

 

 

Ordinary shares allotted as fully paid up bonus shares for the period of five years immediately preceding 31st march

 

Particulars

 

Number of Shares

 

 

Shares issued in 2014-15 pursuant to the Scheme of Arrangement [Refer Note 31(x)(c)]

87761

 

 

Ordinary Shares allotted as fully paid up Bonus Shares for the period of five years immediately preceding 31st March

 

Particulars

 

Number of Shares

 

 

Bonus Shares issued in 2010-11

3826701530

 

 

Rights, preferences and restrictions attached to the Ordinary Shares

 

The Ordinary Shares of the Company, having par value of Rs. 1.00 per share, rank pari passu in all respects including voting rights and entitlement to dividend.

 

 

Shares reserved for issue under Options

 

Particulars

 

Number of Shares

 

 

Ordinary Shares of Re.1.00 each

269351410

 

 

 

 

Terms and Conditions of Options Granted

 

Each Option entitles the holder thereof to apply for and be allotted ten Ordinary Shares of the Company of ` 1.00 each upon payment of the exercise price during the exercise period. The exercise period commences from the date of vesting of the Options and expires at the end of five years from (i) the date of grant in respect of Options granted under the ITC Employee Stock Option Scheme (introduced in 2001) and (ii) the date of vesting in respect of Options granted under the ITC Employee Stock Option Scheme -2006 & the ITC Employee Stock Option Scheme -2010

 

The vesting period for conversion of Options is as follows:

 

On completion of 12 months from the date of grant of the Options:

30% Vests

On completion of 24 months from the date of grant of the Options:

30% Vests

On completion of 36 months from the date of grant of the Options:

40% Vests

 

 

 

 

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

8015.500

7953.200

7901.800

(b) Reserves & Surplus

299341.400

254667.000

214976.700

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

307356.900

262620.200

222878.500

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

386.900

510.000

664.000

(b) Deferred tax liabilities (Net)

16316.000

12969.600

12037.200

(c) Other long term liabilities

70.500

50.900

31.100

(d) long-term provisions

1007.200

1100.000

1256.200

Total Non-current Liabilities (3)

17780.600

14630.500

13988.500

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.200

1.400

0.000

(b) Trade payables

19046.200

19875.900

16689.800

(c) Other current liabilities

36711.800

36318.800

35286.200

(d) Short-term provisions

61060.900

58847.100

51331.300

Total Current Liabilities (4)

116819.100

115043.200

103307.300

 

 

 

 

TOTAL

441956.600

392293.900

340174.300

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

137771.400

119486.900

111185.500

(ii) Intangible Assets

4013.500

640.500

907.900

(iii) Capital work-in-progress

20854.900

22729.400

14728.000

(iv) Intangible assets under development

286.500

227.900

149.900

(b) Non-current Investments

24416.400

25121.700

20008.600

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

15063.600

14800.200

17279.700

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

202406.300

183006.600

164259.600

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

59638.200

63112.600

50594.300

(b) Inventories

78367.600

73595.400

66002.000

(c) Trade receivables

17224.000

21653.600

11633.400

(d) Cash and cash equivalents

75886.100

32893.700

36150.000

(e) Short-term loans and advances

5498.900

7835.100

5121.400

(f) Other current assets

2935.500

10196.900

6413.600

Total Current Assets

239550.300

209287.300

175914.700

 

 

 

 

TOTAL

441956.600

392293.900

340174.300

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

Income

365074.000

332386.000

299012.700

 

Other Income

15431.300

11071.400

9387.000

 

TOTAL (A)

380505.300

343457.400

308399.700

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

109878.300

102632.800

89362.100

 

Purchases of Stock-in-Trade

38986.600

30214.700

33759.200

 

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

(2145.300)

 (1284.100)

(2463.500)

 

Employees benefits expense

17800.400

16083.700

13870.100

 

Other expenses

65818.500

60190.500

58209.700

 

TOTAL (B)

230338.500

207837.600

192737.600

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

150166.800

135619.800

115662.100

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

574.200

29.500

864.700

 

 

 

 

 

 

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

149592.600

135590.300

114797.400

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

9617.400

8999.200

7955.600

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

139975.200

126591.100

106841.800

 

 

 

 

 

Less

TAX (H)

43897.900

38739.000

32657.900

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

96077.300

87852.100

74183.900

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD  (K)

61390.900

37881.000

19725.900

 

 

 

 

 

Add

Earlier year excess proposed dividend and dividend distribution tax (L)

0.000

0.000

0.000

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

Transfer to General Reserve

9700.000

8800.000

7500.000

 

Proposed Dividend For The Financial Year

50097.000

47719.100

41484.600

 

Income Tax on Proposed Dividends Current Year

10198.600

8109.9

7050.300

 

Income Tax on Proposed Dividends Earlier Year’s Provision

(305.800)

(286.800)

(6.100)

 

Total (M)

69689.800

64342.200

56028.800

 

 

 

 

 

 

Balance Carried to the B/S (J+K+L-M)

87778.400

61390.900

37881.000

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export of Goods (F.O.B.)

37436.900

32053.200

 

 

Hotel Earnings

 

4964.100

5495.100

 

 

Freight and Insurance Recoveries

 

283.000

259.200

 

 

Interest

NA

32.500

143.000

 

 

Dividend

 

130.500

55.700

 

 

Other Earnings*

 

56.800

67.800

 

TOTAL EARNINGS

 

42903.800

38074.000

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

11022.500

11211.000

 

 

Components and Spare Parts (Including Stores)

NA

823.500

817.000

 

 

Capital Goods

 

7296.900

6206.200

 

 

Others

 

320.800

226.600

 

TOTAL IMPORTS

 

19463.700

18460.800

 

 

 

 

 

 

Earnings / (Loss) Per Share

 

 

 

 

- Basic

12.05

11.09

9.45

 

- Diluted

11.93

10.96

9.33

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

143.100

154.000

112.700

Cash generated from operations

135346.500

107595.000

95962.400

Net Cash From Operating Activities

93088.700

69623.000

67098.900

 

 

QUARTERLY RESULTS

 

Particulars

 

 

 

30.06.2015

(Unaudited)

 

 

 

1st  Quarter

Net Sales

 

 

85877.000

Total Expenditure

 

 

52018.300

PBIDT (Excl OI)

 

 

33858.700

Other Income

 

 

3150.100

Operating Profit

 

 

37008.800

Interest

 

 

104.600

Exceptional Items

 

 

NA

PBDT

 

 

36904.200

Depreciation

 

 

2581.900

Profit Before Tax

 

 

34322.300

Tax

 

 

11667.900

Provisions and contingencies

 

 

NA

Profit After Tax

 

 

22654.400

Extraordinary Items

 

 

NA

Prior Period Expenses

 

 

NA

Other Adjustments

 

 

NA

Net Profit

 

 

22654.400

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

26.32

26.43

24.81

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

41.13

40.80

38.68

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

35.31

36.78

35.00

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.46

0.48

0.48

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.00

0.00

0.00

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

2.05

1.82

1.70

 

 

STOCK PRICES

 

Face Value

Rs.1.00/-

Market Value

Rs.345.00/-

 

 

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

7901.800

7953.200

8015.500

Reserves & Surplus

214976.700

254667.000

299341.400

Net worth

222878.500

262620.200

307356.900

 

 

 

 

long-term borrowings

664.000

510.000

386.900

Short term borrowings

0.000

1.400

0.200

Current maturities of long-term debts

112.700

154.000

143.100

Total borrowings

776.700

665.400

530.200

Debt/Equity ratio

0.003

0.003

0.002

 

 

 

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

299012.700

332386.000

365074.000

 

 

11.161

9.834

 

 

 

 

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

299012.700

332386.000

365074.000

Profit

74183.900

87852.100

96077.300

 

24.81%

26.43%

26.32%

 

 

 

 

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

Yes

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

 

CALCUTTA HIGH COURT

CASE STATUS INFORMATION SYSTEMS

 

CASE STATUS: ----

STATUS OF: TEMP APO (APOT) 25 OF 2011

 

GODFREY PHILLIPS (INDIA) LIMITED                                    VS.                                       ITC LIMITED

 

PET’S ADV.: VIPUL KUNDALIA

 

RES’S ADV.: -----

 

COURT NO.: 0

 

LAST LISTED ON: NO DATE MENTIONED

 

CATEGORY: FINAL DECREE

 

CONNECTED APPLICATION (S)

 

CONNECTED MATTER (S)

NO CONNECTED APPLICATION

NO CONNECTED CASES

 

CASE UPDATED ON: MONDAY, JANUARY 17, 2011

 

 

UNAUDITED FINANCIAL RESULTS FOR THE    QUARTER ENDED 30TH JUNE, 2015

 

(Rs. In Million)

Particulars

 

 

Quarter Ended

( Unaudited)

 

 

 

30.06.2015

 

 

 

 

1. Income from operations

 

 

 

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

 

 

85055.300

b) Other operating income

 

 

821.700

Total income from Operations(net)

 

 

85877.000

2.Expenditure

 

 

 

a) Cost of material consumed

 

 

25690.800

b) Purchases of stock in trade

 

 

6290.300

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

 

 

(291.300)

d) Employees benefit expenses

 

 

5174.200

e) Depreciation and amortization expenses

 

 

2581.900

f) Other expenditure

 

 

15154.300

Total expenses

 

 

54600.200

3. Profit from operations before other income and financial costs

 

 

31276.800

4. Other income

 

 

3150.100

5. Profit from ordinary activities before finance costs

 

 

34426.900

6. Finance costs

 

 

104.600

7. Net profit/(loss) from ordinary activities after finance costs but before exceptional items

 

 

34322.300

8. Exceptional item

 

 

--

9. Profit from ordinary activities before tax Expense:

 

 

34322.300

10.Tax expenses

 

 

11667.900

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

 

 

22654.400

12.Extraordinary Items (net of tax expense)

 

 

--

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

 

 

22654.400

14.Paid-up equity share capital (Nominal value Rs.10/- per share)

 

 

8015.500

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

 

 

--

16.i) Earnings per share (before extraordinary items) of Rs.10/- each) (not annualised):

 

 

 

(a) Basic

 

 

2.83

(b) Diluted

 

 

2.80

 

 

Particulars

 

 

Quarter Ended

( Unaudited)

 

 

 

30.06.2015

A. Particulars of shareholding

 

 

 

1. Public Shareholding

 

 

 

- Number of shares

 

 

799556779

- Percentage of shareholding

 

 

99.75

2. Promoters and Promoters group Shareholding-

 

 

 

a) Pledged /Encumbered

 

 

 

Number of shares

 

 

-

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

 

 

-

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

 

 

-

 

 

 

 

b) Non  Encumbered

 

 

 

Number of shares

 

 

-

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

 

 

-

 

 

 

 

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

 

 

-

 

 

 

 

B. Investor Complaints

 

 

 

Pending at the beginning of the quarter

 

 

Nil

Receiving during the quarter

 

 

Nil

Disposed of during the quarter

 

 

Nil

Remaining unreserved at the end of the quarter

 

 

Nil

 

 

UNAUDITED SEGMENT WIE REVENUE, RESULTS AND CAPITAL EMPLOYED

 

(Rs. In Million)  

 

Particulars

 

 

Quarter Ended

( Unaudited)

 

 

 

30.06.2015

1. Segment Revenue

 

 

 

FMCG – Olgareties

 

 

41496.100

Others

 

 

21710.100

Total

 

 

63206.200

Hotels

 

 

2878.300

Agri Business

 

 

23253.600

Paperboards, paper and Packaging

 

 

12649.800

Total

 

 

101987.900

Less : Inter Segment Revenue

 

 

16932.600

Net Sales

 

 

85055.300

 

 

 

 

2. Segment Result

(Profit before Interest and Tax)

 

 

 

FMCG – Olgareties

 

 

27811.000

Others

 

 

(79.700)

Total

 

 

27731.300

Hotels

 

 

(72.500)

Agri Business

 

 

2338.500

Paperboards, paper and Packaging

 

 

2544.400

Total

 

 

32541.700

 

 

 

 

Less : Finance Costs

 

 

104.600

Other Un-allocable (Income) net of un-allocable expenditure

 

 

(1885.200)

Profit Before Tax

 

 

34322.300

 

 

 

 

Tax Expenses

 

 

11667.900

 

 

 

 

Profit After Tax

 

 

22654.400

 

 

 

 

3. Capital Employed

 

 

 

FMCG – Olgareties

 

 

50146.900

Others

 

 

46700.100

Total

 

 

96847.000

Hotels

 

 

43316.500

Agri Business

 

 

18725.700

Paperboards, paper and Packaging

 

 

54247.800

Total

 

 

213137.000

 

 

 

UNSECURED LOAN

 

(Rs. In Million)

Particulars

As on

31.03.2015

As on

31.03.2014

LONG TERM BORROWING

 

 

Deferred payment liabilities

 

 

Sales tax deferment loans

386.900

510.000

Total

386.900

510.000

 

Note:

 

Term loans

From Banks

Repayable in equated periodic instalments up to a 5 year period from the date of respective loan. These were repaid during financial year 2014 -15 and carry an interest of 11.25% p.a.

 

From Subsidiaries

Interest Free Loan from a subsidiary company taken over pursuant to the Scheme of Arrangement – Rs.20.000 Million, repayable in March, 2016 [Refer Note 31(x)].

 

Sales tax deferment loans

Repayable after a period of 10 to 14 years from the end of the month of respective loans. These are repayable by 2025-26 and are interest free.

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

90048469

18/06/2001 *

1,400,000,000.00

ITC LIMITED

VIRGINIA HOUSE, 37;CHOWRIGHEE, KOLKATA, WEST BENG 
AL - 700071, INDIA

-

2

90249950

16/12/1992

100,000,000.00

INDUSTRIAL FINANCE CORPORATION OF INDIA

BANK OF BARODA BUILDING, 16; SANSAD MARG DELHI - 110001, INDIA

-

3

90249944

14/10/1992

1,150,000,000.00

STATE BANK OF INDIA

CHOWRINGHEE BRANCH, 38; CHOWRINGHEE ROAD, KOLKATA – 700071  WEST BENGAL , INDIA

-

4

90249931

14/05/1992

8,600,000.00

THE INDUSTRIAL CREDIT AND INVESTMENT CORPORATION OF 
INDIA LIMITED

163; BACKBAY RECLAMATION, BOMBAY, MAHARASHTRA - 400020, INDIA

-

5

90251696

03/12/1998 *

7,000,000,000.00

STATE BANK OF INDIA

34; JAWAHARLAL NEHRU ROAD, KOLKATA- 
700071, WEST BENGAL, INDIA

-

6

90249861

26/03/1990

11,500,000.00

INDUSTRIAL FINANCE CORPORATION OF INDIA

2; FAIRLIE PLACE, KOLKATA, WEST BENGAL - 700001, INDIA

-

7

90249828

16/04/1998 *

7,000,000,000.00

STATE BANK OF INDIA

38; CHOWRINGHEE, KOLKATA, WEST BENGAL - 700071, INDIA

-

8

90251676

15/07/2010 *

6,000,000,000.00

STATE BANK OF INDIA

RELIANCE HOUSE, 34 J. L. NEHRU ROAD, KOLKATA, WEST BENGAL - 700071, INDIA

A93676666

9

90249593

20/10/1981

1,750,000.00

TATA BURROUGHS LIMITED.

MANISH COMMERCIAL CONTRE, 216;-A; DR. ANNIE DESAN 
T ROAD . WORLI, BOMBAY, MAHARASHTRA - 400025, INDIA

-

10

90250976

18/04/1980

2,700,000.00

STATE BANK OF INDIA

JEEVAN DEEP. 1-MIDDLETON STREET, KOLKATA, WEST BENGAL - 700071, INDIA

-

 

* Date of charge modification

 

CONTINGENT LIABILITIES:

 

(Rs. in million)

PARTICULARS

31.03.2015

31.03.2014

Claims against the Company not acknowledged as debts

4048.800

3615.000

Interest on claims, where applicable, is estimated

1533.700

1213.400

Excise duty, VAT / sales taxes and other indirect taxes claims disputed by the Company relating to issues of applicability and classification aggregating

3144.300

2549.900

Interest on claims, where applicable, is estimated

1355.800

1038.900

Local Authority taxes/cess/royalty on property, utilities etc. claims disputed by the Company relating to issues of applicability and determination aggregating

553.200

636.200

Interest on claims, where applicable, is estimated

134.700

123.600

Third party claims arising from disputes relating to contracts aggregating

290.500

373.600

Interest on claims, where applicable, is estimated

01.400

11.200

 

 

FIXED ASSETS

 

·         Land

·         Building

·         Plant and Machinery

·         Computer

·         Vehicles

·         Furniture and Fixture

 

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.65.11

UK Pound

1

Rs.99.50

Euro

1

Rs.73.24

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

GTA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

10

PAID-UP CAPITAL

1~10

10

OPERATING SCALE

1~10

10

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

10

--PROFITABILITY

1~10

10

--LIQUIDITY

1~10

10

--LEVERAGE

1~10

10

--RESERVES

1~10

10

--CREDIT LINES

1~10

10

--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

 

90

 

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.