MIRA INFORM REPORT

 

 

Report No. :

345318

Report Date :

16.10.2015

 

IDENTIFICATION DETAILS

 

Name :

ATUL LIMITED (w.e.f. 31.07.1996)

 

 

Formerly Known As :

ATUL PRODUCTS LIMITED

 

 

Registered Office :

Atul House, G I Patel Marg, Ahmedabad – 380014, Gujarat

Tel. No.:

91-79-26461294/ 26463706

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

11.12.1975

 

 

Com. Reg. No.:

04-002859

 

 

Capital Investment / Paid-up Capital :

Rs. 296.800 Million

 

 

CIN No.:

[Company Identification No.]

L99999GJ1975PLC002859

 

 

IEC No.:

0388028921

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AABCA2390M

 

 

Legal Form :

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

 

 

Line of Business :

Manufacturer of Dyestuff Chemicals, Drugs and Pharmaceuticals.

 

 

No. of Employees :

2750 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Aa (72)

 

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 29000000

 

 

Status :

Excellent

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist

 

 

Comments :

Subject was originally promoted by Late Shri Kasturba Lalbhai in 1947 as Atul Products Limited as a step towards backward integration of their cotton textile business and was later renamed to Atul Limited in 1996. It has manufacturing facilities located at Ankleshwar and Valsad in Gujarat and Tarapur in Maharashtra. It has excellent track record.

 

The company has shown a significant growth in its turnover and profit during FY2015. The company possesses a healthy financial profile marked by strong networth base along with decent liquidity, moderate gearing and profitability.

 

The rating also continues to derive strength from the wide experience of the promoters and competent management of Atul Limited, its established track record and strong position in the chemical industry with diversified product portfolio, its leadership position in some of the high-value products, strong Research and Development setup and established customer base.

 

The ratings also take into consideration, an acceptable share price of Rs. 1613.50/- recorded by the company as against a face value of Rs. 10.00/- as on October 14, 2015.

 

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

 

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

 

NOTES:

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

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CARE Rating

Rating

Commercial Paper (CP) = A1+

Rating Explanation

Have very strong degree of safety and carry lowest credit risk.

Date

July 16, 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

91-79-26461294

91-263-2230000

 

 

LOCATIONS

 

Registered Office :

Atul House, G I Patel Marg, Ahmedabad – 380014, Gujarat, India

Tel. No.:

91-79-26461294/ 26463706

Mobile No.:

Not Available

Fax No.:

Not Available

E-Mail :

wk.ag@atul.co.in

wk.ar@atul.co.in

wk.cl@atul.co.in

fi@atul.co.in

sec@atul.co.in

ahd@atul.co.in

jayesh_desai@atul.co.in

nirali_solanki@atul.co.in

Website :

http://www.atul.co.in

Area :

Owned

Location :

Commercial

 

 

Head Office :

Colours Division Post Atul, Valsad – 396020, Gujarat, India

Tel. No.:

91-2632-233261/ 5

Fax No.:

91-2632-233619/ 233375/ 233024/ 233619/ 233384

E-Mail :

sec@atul.co.in

atul_ho@atul.co.in 

 

 

Mumbai Office :

310 B, Veer Savarkar Marg, Adjacent to Prabhadevi Telephone Exchange, Opposite India United Mills, Prabhadevi, Dadar (West), Mumbai-400028, Maharashtra, India

Tel. No.:

91-22-39876000

Fax No.:

91-22-24376061/ 24386065

E-Mail :

mum@atul.co.in

 

 

Marketing Office :

C/o RITCO Logistic Limited, Arihant Commericla Complex, Shed No. 18, Ground Floor, Kopar Bus Stop, Bhiwandi, Thane – 421302, Maharashtra, India

 

 

Corporate Social Responsibility Office :

Nandavla National Highway No. 8, Near Essar Pump, Gundlav, District : Valsad – 396001, Gujarat, India

 

 

Factory 1 :

297, GIDC Industrial Estate,  Ankleshwar - 393002, Gujarat, India

 

 

Factory 2 :

Atul, District Valsad - 396020, Gujarat, India

 

 

Factory 3 :

MIDC, Tarapur, Thane - 401506, Maharashtra, India

 

 

Factory 4 :

GIDC, Kharod, District Bharuch - 394115, Gujarat, India

 

 

DIRECTORS

 

AS ON 31.03.2015

 

Name :

Dr. Satguru Sharan Baijal

Designation :

Independent Director

Address :

B-4, Sector-30, Noida – 201303, Uttar Pradesh, India

Date of Birth/ Age :

06.09.1929

Brief Resume :

Dr. S S Baijal is a Director of the Company since June 13, 1984.

Dr. Baijal was a Lecturer in Organic Chemistry, Lucknow University. He was a Whole-time Director and CEO of Atic Industries Limited, Managing Director of IEL Limited and Chairman and CEO of ICI companies in India.

Dr. Baijal holds PhD degree in Chemistry from the University of Allahabad.

Date of Appointment :

13.06.1984

DIN No.:

00027961

Directorship in other companies :

Public Companies:

·         BMG Enterprises Limited

·         CAE Rossell India Limited

·         DCM Shriram Credit and Investments Limited

·         DCM Shriram Limited

·         Rossell Tea Limited

 

Private Companies:

·         Delhi Guest Houses Private Limited

 

Name :

Mr. Hasmukh Shantilal Shah

Designation :

Independent Director

Address :

10, Ishavashyam, Sevasi – Mahapura Road, Mahapura, Vadodara – 391101, Gujarat, India

Date of Birth/ Age :

01.10.1934

Brief Resume :

Mr. H S Shah is a Director of the Company since October 21, 1992.

Mr. Shah held several senior and top positions in the Government of India and other academic | research, commercial and social organizations.

Mr. Shah holds MA degree in Sociology from Gujarat University and has passed Indian Administrative Service examination conducted by Union Public Service Commission.

 

Companies:

Chairman, Gujarat Industrial Investment Corporation

Chairman and Managing Director, Indian Petrochemicals Corporation Limited

Vice Chairman, GE Capital (India) Limited

 

Academic | Research:

Chairman, Darshak Itihas Nidhi

Chairman, Gujarat Ecology Society

Chairman, Gujarat Industrial Research and Development Agency

Chairman, National Institute of Design

Founder Chairman, Gujarat Institute of Desert Ecology

Member, Board of Governors of IIT, Mumbai

President, Charutar Arogya Mandal (Medical College and Hospital)

 

Social:

Chairman, Gujarat Rural Institute for Socio Economic Reconstruction Vadodara

Chairman, Kachnar Trust

Founder President and Member, Heritage Trust

Founder Trustee, Indian Trust for Rural Heritage and Development

Life Trustee, BAIF Development Research Foundation

 

Government:

Chairman, Gujarat Ecology Commission

Joint Director, Bureau of Public Enterprises, Government of India

Joint Secretary to the Prime Minister, Government of India

Member, Central Pollution Control Board

Secretary, Posts and Telegraph Board of India

 

Others:

Chairman, Vikram A Sarabhai Community Science Centre

Life Trustee and Member, Gujarat Nature Conservation Society

Trustee, Shram Mandir

Date of Appointment :

02.11.1992

DIN No.:

00152195

Directorship in other companies :

Public Companies:

·         Sun Pharmaceutical Industries Limited

·         Supreme Petrochem Limited

 

Private Companies:

·         Flexican Bellows Private Limited

 

Name :

Mr. Bharathy Narayanan Mohanan

Designation :

Whole-time Director

Address :

H-6, Down Colony, Post : Atul, Valsad - 396020, Gujarat, India

Date of Birth/ Age :

26.05.1950

Brief Resume :

Mr. B N Mohanan is a Whole-time Director of the Company since January 01, 2009. He joined the Company in 1992.

Mr. Mohanan has over 4 decades of professional experience in various capacities. Currently, he is the President, Infrastructure Unit and also the Occupier. His responsibilities include safety, health, environment, utilities and engineering procurement.

Mr. Mohanan holds BSc (Engg Hon) degree from the University of Calicut.

Date of Appointment :

01.01.2014

DIN No.:

00198716

Directorship in other companies :

Public Companies:

·         Aasthan Dates Limited – Chairman

·         Atul Biospace Limited – Chairman and Managing Director

·         Atul Clean Energy Limited – Chairman

·         Atul Rajasthan Date Palms Limited – Managing Director

·         Atul Seeds Limited

·         Biyaban Agri Limited – Chairman

·         Raja Dates Limited – Chairman

·         DPD Limited

Membership in committees of other companies :

Member of committees:

Atul Limited - Corporate Social Responsibility Committee

Atul Rajasthan Date Palms Limited - Nomination and Remuneration Committee

 

Name :

Mr. Gopikannan Rengachari Thirukonda

Designation :

Director

Address :

Flat No. 113, 11th Floor, Building 1, Wing - B, Kalpa - Taru Aura, LBS Marg, Ghatkopar (West), Mumbai - 400086, Maharashtra, India

Date of Birth/Age :

30.03.1959

Brief Resume :

Mr. Gopi Kannan joined the Company in October 29, 1993.

Mr. Gopi Kannan has experience of 30 years in various capacities and is currently the Chief Financial Officer.

Mr. Gopi Kannan is a FCA, FCMA, FCS and holds a PGDM.

Date of Appointment :

17.10.2014

DIN No.:

00048645

Other Directorship :

Public companies:

  • Amal Limited
  • AtRo Limited
  • Atul Bioscience Limited
  • Atul China Limited – Chairman
  • Atul Deutschland GmbH – Chairman
  • Atul Elkay Polymers Limited – Chairman
  • Atul Europe Limited – Chairman
  • Atul Finserv Limited – Chairman
  • Atul Rajasthan Date Palms Limited
  • Atul USA Inc – Chairman
  • DPD Limited
  • Rudolf Atul Chemicals Limited

Membership in committees of other companies:

Member of committees:

  • Amal Limited – Stakeholders Relationship Committee
  • Atul Bioscience Limited – Audit Committee
  • Rudolf Atul Chemicals Limited – Audit Committee
  • Rudolf Atul Chemicals Limited – Corporate Social Responsibility Committee

 

Name :

Mr. Rajendra Ambalal Shah

Designation :

Independent Director

Address :

Panorama, 2nd Floor, 203, Walkeshwar Road, Mumbai - 400006, Maharashtra, India

Date of Birth/Age :

07.07.1931

Brief Resume :

Mr. R A Shah was appointed as a Director of the Company on May 26, 1983.

Mr. Shah is a Senior Partner of Crawford Bayley and Company a firm of Solicitors and Advocates.

Mr. Shah holds a graduate degree in Law from University of Mumbai and has passed Solicitor exam from

Honorable High Court at Mumbai.

Date of Appointment :

26.07.2013

DIN No.:

00009851

Directorship in other companies :

Public companies:

  • Abbott India Limited
  • BASF India Limited
  • Colgate Palmolive India Limited – Vice-Chairman
  • Deepak Fertilizers and Petrochemicals Corporation Limited
  • Godfrey Philips India Limited – Chairman
  • Jumbo World Holdings Limited
  • Lupin Limited
  • Pfizer Limited – Chairman
  • Procter & Gamble Hygiene and Healthcare Limited – Chairman
  • The Bombay Dyeing and Manufacturing Company Limited

 

Private companies:

  • Precision Valve (India) Private Limited
  • Preval Pumps and Accessories (India) Private Limited
  • ThyssenKrupp Solutions (India) Private Limited

Membership in committees of other companies:

Chairman of committees:

  • Colgate Palmolive India Limited – Audit Committee
  • Colgate Palmolive India Limited – Nomination and Remuneration Committee
  • Godfrey Philips India Limited – Corporate Social Responsibility Committee
  • Pfizer Ltd – Audit Committee
  • Procter & Gamble Hygiene and Healthcare Limited – Audit Committee
  • Procter & Gamble Hygiene and Healthcare Limited – Nomination and Remuneration Committee

 

Member of committees:

  • Abbott India Limited – Audit Committee
  • Abbott India Limited – Nomination and Remuneration Committee
  • Abbott India Limited – Stakeholders Relationship Committee
  • BASF India Limited – Audit Committee
  • BASF India Limited – Nomination and Remuneration Committee
  • Godfrey Philips India Limited – Audit Committee
  • Lupin Limited – Nomination and Remuneration Committee
  • Pfizer Limited – Nomination and Remuneration Committee
  • The Bombay Dyeing & Manufacturing Company Limited – Audit Committee
  • The Bombay Dyeing & Manufacturing Company Limited – Nomination and Remuneration Committee

 

Name :

Mr. Bansidhar Sunderlal Mehta

Designation :

Independent Director

Address :

5th Floor, Maheshwari Mansion, 34-Napean Sea Road, Mumbai - 400006, Maharashtra, India

Date of Birth/ Age :

19.09.1935

Brief Resume :

Mr. B S Mehta is a Director of the Company since April 16, 1992.

Mr. Mehta is a Practicing Chartered Accountant and is a Chief Mentor of B S Mehta and Co. He is a past President of The Institute of Chartered Accountants of India. He was involved in educational activities at the graduate and post graduate levels in the University of Mumbai.

Mr. Mehta holds B Com (Hons) degree from the University of Mumbai and is a Fellow Member of The Institute of Chartered Accountants of India.

Date of Appointment :

16.04.1992

DIN No.:

00035019

Directorship in other companies :

Public Companies:

·         Bharat Bijlee Limited

·         Ceat Limited

·         Century Enka Limited

·         Gillette India Limited

·         Housing Development Finance Corporation Limited

·         IL and FS Investment Managers Limited

·         J B Chemicals and Pharmaceuticals Limited

·         Jumbo World Holdings Limited (Body Incorporated outside India)

·         NSDL e-Governance Infrastructure Limited

·         Pidilite Industries Limited

·         Proctor and Gamble Hygiene and Health Care Limited

·         Sasken Communication Technologies Limited

·         SBI Capital Markets Limited

·         Sudarshan Chemical Industries Limited

 

Private Companies:

·         Uhde India Private Limited

 

 

 

Name :

Mr. Susim Mukul Datta

Designation :

Independent Director

Date of Birth/ Age :

01.07.1936

Address :

104b, Bakhtavar, Lower Colaba Road, Colaba, Mumbai - 400005, Maharashtra, India

Brief Resume :

Mr. S M Datta is a Director of the Company since October 28, 2002.

Mr. Datta is the Chairman of Administrative Staff College of India. He is also associated with various other renowned institutes.

Mr. Datta was the Chairman of Hindustan Unilever Limited as well as of all Unilever Group companies in India and Nepal from 1990 to 1996.

Mr. Datta is a Chartered Engineer; Honorary Fellow - All India Management Association, Fellow - Indian Institute of Chemical Engineers, Member - Society of Chemical Industry (London) and Fellow - The Institution of Engineers (India).

Mr. Datta holds a post graduate degree in Science and Technology from the University of Calcutta.

Date of Appointment :

28.10.2002

DIN No.:

00032812

Directorship in other companies :

Public Companies:

·         Bhoruka Power Corporation Limited

·         Castrol India Limited - Chairman

·         Door Sabha Nigam Limited

·         ILandFS Investment Managers Limited - Chairman

·         Peerless Financial Products Distributors’ Limited - Chairman

·         Peerless General Finance and Investment Company Limited

·         Peerless Hotels Limited

·         Philips Electronics India Limited - Chairman

·         Rabo India Finance Limited

·         Speciality Restaurants Limited - Chairman

·         Transport Corporation of India Limited - Chairman

·         Zodiac Clothing Company Limited

 

Private Companies:

·         Chandras Chemical Enterprises Private Limited

·         SMD Management Consultants Private Limited

 

Name :

Mr. Mukund Manohar Chitale

Designation :

Director

Address :

4/46, Vishnuprasad Society, Shahaji Raje Marg, Vile Parle (East), Mumbai - 400057, Maharashtra, India

Date of Birth/Age :

16.11.1949

Brief Resume :

Mr. M M Chitale is a founder of the Chartered Accountancy firm, Mukund M Chitale and Company.

He has 42 years of experience on advising companies on their business, financial and strategic matters and is acknowledged as an expert in accounting and auditing matters in India.

Mr. Chitale was the President of the Institute of Chartered Accountants of India and the Chairman of the erstwhile National Advisory Committee on Accounting Standards. He has served on various committees set up by the Central Vigilance Commission, the Government of India, the International Federation of Accountants, the Reserve Bank of India and the Securities Exchange Board of India.

Mr. Chitale is connected with various reputed social and educational organizations.

Mr. Chitale is a FCA.

Date of Appointment :

04.08.2015

DIN No.:

00101004

Directorship in other companies :

Public companies:

  • ASREC (India) Limited
  • Essel Propack Limited
  • Itz Cash Card Limited
  • Larsen & Toubro Limited
  • Larsen & Toubro Infotech Limited
  • L&T General Insurance Company Limited
  • ONGC Mangalore Petrochemicals Limited
  • ONGC Petro Additions Limited
  • Ram Ratna Wires Limited

 

Private companies:

  • Principal PNB Asset Management Company Private Limited - Chairman

Membership in committees of other companies:

Chairman of committees:

  • Essel Propack Limited - Audit Committee
  • Itz Cash Card Limited - Audit Committee
  • Larsen & Toubro Limited - Audit Committee
  • Larsen & Toubro Infotech Limited - Nomination and Remuneration Committee
  • L&T General Insurance Company Limited - Audit Committee

 

Member of committees:

  • ASREC (India) Limited - Audit Committee
  • Essel Propack Limited - Nomination and Remuneration Committee
  • Itz Cash Card Limited - Nomination and Remuneration Committee
  • Larsen & Toubro Infotech Limited - Audit Committee
  • Larsen & Toubro Infotech Limited - Corporate Social Responsibility Committee
  • ONGC Petro Additions Ltd - Audit Committee
  • Principal PNB Asset Management Company Private Limited - Audit Committee
  • Ram Ratna Wires Limited - Audit Committee
  • Ram Ratna Wires Limited - Nomination and Remuneration Committee

 

Name :

Mr. Baldev Raj Arora

Designation :

Director

Address :

6B, Saker Apartments, Pochkhanawalla Road, Worli, Mumbai – 400030, Maharashtra, India

Date of Birth/Age :

03.06.1944

Qualification :

Mr. Arora has 44 years of experience with leading multinational companies in India and abroad in Agrochemicals, Biologics, Infant Nutrition and Pharmaceuticals Businesses.

Mr. Arora held several senior positions including Chairman, Cyanamid Agro Ltd, Managing Director, Cyanamid India Ltd, Chairman and Managing Director, Wyeth – Lederle Ltd, Regional President – Asia, Pfizer Nutrition, Regional President – Asia and Pacific RIM, Nestle S A, Chairman, PT Wyeth Nutrition Indonesia and Board Member, Wyeth Philippines Inc.

He was also a Member of the Board of Directors of Asia Pacific Infant and Young Child Nutrition Association, Singapore, Chairman of the American Business Council, Mumbai and Vice President of Organisation of Pharmaceuticals Producers of India.

Mr. Arora holds BE (Mechanical) degree from Punjab Engineering College and has undergone several programs at Asian Institute of Management, Philippines, Michigan Business School, Harvard Business School and London Business School.

Date of Appointment :

04.08.2015

DIN No.:

00194168

 

Name :

Mr. Sunilbhai Siddharthbhai Lalbhai

Designation :

Chairman and Managing Director

Date of Appointment :

01.07.2014

DIN No.:

00045590

 

Name :

Mr. Samvegbhai Arvindbhai Lalbhai

Designation :

Managing Director

Address :

Shalimar, Shahibaug, Ahmedabad -380004, Gujarat, India

Date of Appointment :

21.01.2000

DIN No.:

00009278

 

Name :

Mr. V S Rangan

Designation :

Independent Director

Date of Birth/ Age :

13.02.1960

Address :

C-1003, 10th Floor, Ashok Towers, Dr S S Rao Road, Parel, Mumbai, 400012, Maharashtra, India

Brief Resume :

Mr. V S Rangan is a Director of the Company since July 19, 2010.

Mr. Rangan is an Executive Director of Housing Development Finance Corporation Limited.

Mr. Rangan is an Associate of The Institute of Chartered Accountants of India and The Institute of Cost and Works Accountants of India.

Date of Appointment :

31.08.2010

DIN No.:

00030248

Directorship in other companies :

Public Companies:

·         Cholamandalam Investment and Finance Company Limited

·         HDFC Developers Limited

·         HDFC Holdings Limited

·         HDFC Investments Limited

·         HDFC Property Ventures Limited

·         HDFC Trustee Company Limited

·         HDFC Venture Capital Limited

·         Hindustan Oil Exploration Company Limited

·         Housing Development Finance Corporation Limited

·         TVS Credit Services Limited

 

Private Companies:

·         Credila Financial Services Private Limited

·         HDFC Education and Development Services Private Limited

·         IVF Advisors Private Limited

·         Ruralshores Business Services Private Limited

 

Name :

Miss Shubhalakshmi Aamod Panse

Designation :

Director

Address :

S No. 130/132, Roseland Phase-II Pim., Saudagar, Rh. No. B/3, Pune - 411027, Maharashtra, India

Date of Birth/Age :

28.01.1954

Brief Resume :

Miss Panse has 38 years of experience in the field of banking and worked in various positions in Banking industry, the last being as the Chairperson and Managing Director of Allahabad Bank Ltd.

Miss Panse is the Chairperson of Quality Review Board of Indian Institute of Actuaries and a Member of P J Nayak Committee on Corporate Governance set up by the Reserve Bank of India.

Miss Panse holds M.Sc degree from Pune University, MBA degree from Drexel University and is a certified Associate of Indian Institute of Bankers.

Date of Appointment :

04.08.2015

DIN No.:

02599310

Directorship in other companies

Public companies:

  • Cholamandalam MS General Insurance Company Limited
  • IL & FS Financial Services Limited
  • KSK Energy Ventures Limited
  • L&T Infrastructure Development Projects Limited
  • The Federal Bank Limited

Membership in committees of other

Companies :

Chairperson of committees:

  • IL & FS Financial Services Limited - CSR Committee
  • The Federal Bank Limited - Performance Review Committee

 

Member of committees:

  • Cholamandalam MS General Insurance Company Limited - Audit Committee
  • IL & FS Financial Services Limited - Audit Committee
  • IL & FS Financial Services Limited - Nomination and Remuneration Committee
  • KSK Energy Ventures Limited - Audit Committee
  • L&T Infrastructure Development Projects Limited - Audit Committee
  • L&T Infrastructure Development Projects Limited - Nomination and Remuneration Committee
  • The Federal Bank Limited - Audit Committee
  • The Federal Bank Limited - IT and OPS Committee
  • The Federal Bank Limited - Large Value Frauds Committee

 

 

KEY EXECUTIVES

 

Name :

Mr. Lalit Prafullachand Patni

Designation :

Secretary

Address :

3 Suruchi Colony, Post Atul, Valsad - 396020, Gujarat, India

PAN No.:

ABHPP8893Q

 

 

SHAREHOLDING PATTERN

 

AS ON 30.09.2015

 

Category of Shareholder

Total No. of Shares

Total Shareholding as a % of Total No. of Shares

As a % of (A+B+C)

(A) Shareholding of Promoter and Promoter Group

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

 

 

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

854316

2.88

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

14224063

47.95

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

15078379

50.83

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

 0

0 

Total shareholding of Promoter and Promoter Group (A)

15078379

50.83

(B) Public Shareholding

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

 

 

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

3596713

12.13

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

34983

0.12

http://www.bseindia.com/include/images/clear.gifCentral Government / State Government(s)

336

0.00

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

392060

1.32

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

2036082

6.86

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

609

0.00

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

609

0.00

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

6060783

20.43

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

 

 

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

1211705

4.09

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

 

 

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital up to Rs. 1 lakh

4340449

14.63

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital in excess of Rs. 1 lakh

2716350

9.16

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

254067

0.86

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

122412

0.41

http://www.bseindia.com/include/images/clear.gifOverseas Corporate Bodies

105446

0.36

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

26209

0.09

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

8522571

28.73

Total Public shareholding (B)

14583354

49.17

Total (A)+(B)

29661733

100.00

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

0

0.00

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

0

0.00

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

0

0.00

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

0

0.00

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

29661733

100.00

 

 

Shareholding of securities (including shares, warrants, convertible securities) of persons belonging to the category Promoter and Promoter Group

 

Sl.No.

Name of the Shareholder

Details of Shares held

Encumbered shares (*)

No. of Shares held

As a % of grand total (A)+(B)+(C)

No

As a percentage

As a % of
grand total
(A)+(B)+(C) of sub-clause (I)(a)

1

Aagam Holdings Private Limited

67,73,345

22.84

0

0.00

0.00

2

Aura Securities Private Limited

16,14,045

5.44

800000

49.56

2.70

3

Aeon Investments Private Limited

10,39,383

3.50

0

0.00

0.00

4

Aeon Investments Private Limited

7,25,000

2.44

0

0.00

0.00

5

Arvind Limited

6,48,641

2.19

0

0.00

0.00

6

Aayojan Resources Private Limited

5,93,000

2.00

0

0.00

0.00

7

Shalva Investments Private Limited

5,00,000

1.69

0

0.00

0.00

8

Akshita Holdings Private Limited

4,56,784

1.54

0

0.00

0.00

9

Adhinami Investments Private Limited

4,47,755

1.51

0

0.00

0.00

10

Arvind Brands Limited

4,30,000

1.45

430000

100.00

1.45

11

Adhigam Investments Private Limited

4,29,720

1.45

0

0.00

0.00

12

Anusandhan Investments Limited

2,29,565

0.77

0

0.00

0.00

13

Samvegbhai Arvindbhai Lalbhai

2,02,377

0.68

0

0.00

0.00

14

Ashini Investments Private Limited

2,00,000

0.67

0

0.00

0.00

15

Asman Investments Private Limited

1,25,000

0.42

0

0.00

0.00

16

Hansaben Niranjanbhai Lalbhai

91,375

0.31

0

0.00

0.00

17

Saumya Samvegbhai Lalbhai

82,695

0.28

0

0.00

0.00

18

Samvegbhai Arvindbhai

62,450

0.21

0

0.00

0.00

19

Swati S Lalbhai

59,593

0.20

0

0.00

0.00

20

Arvindbhai Narottambhai Sheth

52,493

0.18

0

0.00

0.00

21

Taral S Lalbhai

50,022

0.17

0

0.00

0.00

22

Anamikaben Samveghbhai Lalbhai

47,199

0.16

0

0.00

0.00

23

Sunil Siddharth Lalbhai

43,193

0.15

0

0.00

0.00

24

Sunil Siddharth

31,544

0.11

0

0.00

0.00

25

Sanjaybhai Shrenikbhai Lalbhai

31,210

0.11

0

0.00

0.00

26

Vimla S Lalbhai

28,318

0.10

0

0.00

0.00

27

Vimlaben S Lalbhai

21,661

0.07

0

0.00

0.00

28

Astha Lalbhai

16,800

0.06

0

0.00

0.00

29

Anshuman Holdings Private Limited

11,825

0.04

0

0.00

0.00

30

Sanjaybhai Shrenikbhai Lalbhai

8,641

0.03

0

0.00

0.00

31

Hansa Niranjanbhai

5,437

0.02

0

0.00

0.00

32

Vimla Siddharthbhai

4,612

0.02

0

0.00

0.00

33

Nishtha Sunilbhai Lalbhai

4,000

0.01

0

0.00

0.00

34

Samvegbhai Arvindbhai Lalbhai

3,653

0.01

0

0.00

0.00

35

Sanjaybhai Shrenikbhai Lalbhai

2,000

0.01

0

0.00

0.00

36

Sanjaybhai Shrenikbhai Lalbhai

1,349

0.00

0

0.00

0.00

37

Rajivbhai Chinubhai Lalbhai

1,169

0.00

0

0.00

0.00

38

Hansaben Niranjanbhai

562

0.00

0

0.00

0.00

39

Sanjaybhai Shrenikbhai Lalbhai

500

0.00

0

0.00

0.00

40

Sheth Narottambhai Lalbhai

495

0.00

0

0.00

0.00

41

Sanjaybhai Shrenikbhai Lalbhai

412

0.00

0

0.00

0.00

42

Sanjaybhai Shrenikbhai Lalbhai

100

0.00

0

0.00

0.00

43

Lalbhai Shrenikbhai Kasturbhai

100

0.00

0

0.00

0.00

44

Jayshreeben Sanjaybhai Lalbhai

100

0.00

0

0.00

0.00

45

Punit Sanjaybhai

100

0.00

0

0.00

0.00

46

Kulin Sanjaybhai

100

0.00

0

0.00

0.00

47

Rajivbhai Chinubhai Lalbhai

56

0.00

0

0.00

0.00

 

Total

1,50,78,379

50.83

1230000

8.16

4.15

 

 

Shareholding of securities (including shares, warrants, convertible securities) of persons belonging to the category Public and holding more than 1% of the total number of shares

 

Sl. No.

Name of the Shareholder

No. of Shares held

Shares as % of Total No. of Shares

1

Saif Advisors Mauritius Ltd A/c Saif India IV FII Holdings Limited

806493

2.72

2

Reliance Capital Trustee Co. Ltd-A/C Reliance Mid and Small

444175

1.50

3

Tejas Bhal Chandra Trivedi

429811

1.45

4

The New India Assurance Company Limited

391640

1.32

5

Reliance Capital Trustee Co. Ltd-A/C Reliance small cap Fund

326479

1.10

6

Government Pension Fund Global

319747

1.08

7

Minaxi Bhalchandra Trivedi

360000

1.21

8

DSP Blackrock Micro Cap Fund

429707

1.45

9

Franklin India Smaller Company

371779

1.25

10

DSP Blackrock Small And MIDC

329795

1.11

11

DSP Blackrock Equity Fund

308397

1.04

 

Total

4518023

15.23

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Dyestuff Chemicals, Drugs and Pharmaceuticals.

 

 

Products :

Item Code No.

Product Description
  • 201

Basic chemicals
  • 202

Other chemical products

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

 

Selling :

Not Available

 

 

Purchasing :

Not Available

 

 

PRODUCTION STATUS – NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Company Name :

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 :

Company Name :

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 :

2750 (Approximately)

 

 

Bankers :

Banker Name :

State Bank of India

Branch :

Mid Corporate Group, Commercial Branch, Paramsiddhi, Complex, Ellisbridge, Ahmedabad, Gujarat - 380006, India

Person Name (With Designation) :

Not Available

Contact Number :

Not Available

Name of Account Holder :

Not Available

Account Number :

Not Available

Account Since (Date/Year of Account Opening) :

Not Available

Average Balance Maintained :

Not Available

Credit Facilities Enjoyed (CC/OD/Term Loan) :

Not Available

Account Operation :

Not Available

Remark :

Not Available

 

  • International Finance Corporation, Maruti Suzuki Building, 3rd Floor, Plot No. 1, Nelson Mandela Road, Vasant Kunj, New Delhi, Delhi - 110070, India
  • Barclays Bank Plc, First Floor, Eros Corporate Tower, Nehru Place, New Delhi, Delhi - 110019, India
  • Export Import Bank Of India, Centre One, World Trade Centre, Cuffe Parade, Mumbai, Maharashtra - 400005, India

 

 

Facilities :

Secured Loan

31.03.2015

(Rs. in Million)

31.03.2014

(Rs. in Million)

Long-term Borrowings

 

 

Rupee term loan from a foreign financial institution

208.300

312.500

Foreign currency term loans from banks

332.500

594.700

Foreign currency term loan from a foreign financial institution

0.000

225.400

 

 

 

Short-term borrowings

 

 

Working capital loans repayable on demand from banks

516.100

1292.700

Total

1056.900

2425.300

 

NOTE:

LONG TERM BORROWING:

 

No.

Type of loan/ Nature of security

Terms of repayment

1

Rupee term loan from a foreign financial institution amounting to Rs. 312.500 Million (Previous year: Rs. 416.700 Million) is secured by first pari passu charge by way of hypothecation of all movable fixed assets and mortgage of immovable properties of the Company, present and future, excluding specific assets with exclusive charge and second charge on entire current assets of the Company, present and future.

15 equal half yearly instalments beginning from January 14, 2011 along with interest ranging from 6.99% p.a. to 7.46% p.a. (balance instalments payable - 6 of Rs. 52.100 Million each).

2

Foreign currency term loan from a foreign bank amounting to Rs. 97.700 Million (Previous year: Rs. 169.000 Million) is secured by first pari passu charge by way of hypothecation of all movable fixed assets and mortgage of immovable properties of the Company, present and future, excluding specific assets with exclusive charge and second charge on entire current assets of the Company, present and future.

16 equal quarterly instalments beginning from July 31, 2012 along with interest @ 3 month LIBOR + 225 bps p.a. (balance instalments payable - 5 of Rs. 19.600 Million each).

3

Foreign currency term loan from a bank amounting to Rs. 521.600 Million (Previous year: Rs. 601.000 Million) is secured by first pari passu charge on the entire movable and immovable fixed assets of the Company, both present and future.

12 equal quarterly instalments beginning from December 29, 2014 along with interest @ 3 month LIBOR + 290 bps p.a. (balance instalments payable - 10 of Rs. 52.200 Million each).

4

Foreign currency loan from a foreign financial institution amounting to Rs. 234.700 Million (Previous year: Rs. 475.800 Million) is secured by first pari passu charge by way of hypothecation of all movable fixed assets and mortgage of immovable properties of the Company, present and future, excluding specific assets with exclusive charge and second charge on entire current assets of the Company, present and future.

Tranche 1:7 half yearly instalments

Beginning from January 15, 2013 along with interest @ 6 month LIBOR + 225 bps p.a. (balance instalments payable-1 of Rs. 26.000 Million each). Tranche 2:7 half yearly instalments beginning from July 15, 2013 along with interest @ 6 month LIBOR + 225 bps p.a. (balance instalments payable - 2 of Rs. 104.300 Million each).

5

Unsecured rupee term loan from a bank amounting to Rs. 0.300 Million (Previous year: Rs. 0.500 Million).

20 equal quarterly instalments beginning from November 30, 2011 along with interest @ Base rate +1.5% p.a. (balance instalments payable - 4 for Rs. 0.100 Million each).

6

Unsecured rupee term loan from a bank amounting to Rs. 1.100 Million (Previous year: Rs. 2.100 Million).

Quarterly instalments beginning from December 01, 2012 along with interest @ Base rate +1.5% p.a. (balance instalments payable - 3 of Rs. 0.400 Million each).

 

 

SHORT-TERM BORROWING:

 

Security details:

Secured by hypothecation of tangible current assets, namely, inventories and book debts of the Company as a whole and also secured by second and subservient charge on immovable and movable assets of the Company to the extent of individual bank limit as mentioned in joint consortium documents. This also extends to guarantees and letter of credits given by the bankers aggregating Rs. 706.600 Million (Previous year: Rs. 1033.800 Million)

The maximum amount outstanding of commercial paper during the year was Rs. 1000.000 Million (Previous year: Rs. 25 Million).

 

Auditors :

 

Name :

Dalal and Shah LLP

Chartered Accountants

 

Cost Auditors

 

Name :

R. Nanabhoy and Company

Cost Accountants

 

Collaborators :

Not Available

 

 

Membership :

Not Available

 

 

Subsidiaries :

·         Aasthan Dates Limited

·         Atul Bioscience Limited

·         Atul Biospace Limited

·         Atul Brasil Quimicos Ltda

·         Atul China Limited

·         Atul Deutschland GmbH

·         Atul Europe Limited

·         Atul Finserv Limited

·         Atul Infotech Private Limited

·         Atul Middle East FZ-LLC

·         Atul Rajasthan Date Palms Limited

·         Atul USA Inc

·         Biyaban Agri Limited

·         DPD Limited*

·         Raja Dates Limited

 

Joint Venture Company :

Rudolf Atul Chemicals Limited

 

Associate Companies :

·         Amal Limited

·         Atul Crop Care Limited*

·         Lapox Polymers Limited*

 

Organisations over which significant influence exercised

[AS ON 31.03.2014]:

·         Welfare funds

·         Atul Kelavani Mandal

·         Atul Rural Development Fund

·         Atul Vidyalaya

 

 

CAPITAL STRUCTURE

 

AS ON 25.07.2014

 

Authorised Capital : Rs. 1600.000 Million

 

Issued,Subscribed & Paid-up Capital: Rs. 296.917 Million

 

 

AS ON 31.03.2015

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

8,00,00,000

Equity Shares

Rs. 10/- each

Rs. 800.000 Million

80,00,000

Cumulative Redeemable Preference

shares

Rs. 100/- each

Rs. 800.000 Million

 

Total

 

Rs. 1600.000 Million

 

Issued Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2,96,91,780

Equity Shares

Rs. 10/- each

Rs. 296.900 Million

 

 

 

 

 

Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

2,96,61,733

Equity Shares

Rs. 10/- each

Rs. 296.600 Million

29,991

Add: Forfeited shares (amount paid-up)

 

Rs. 0.200 Million

 

 

 

Rs. 296.800 Million

 

 

a)     Rights, preferences and restrictions:

The Company has two classes of shares referred to as Equity shares having a par value of Rs. 10 and Cumulative Redeemable Preference shares having a par value of Rs. 100.

 

                      i.        Equity shares:

In the event of liquidation of the Company, the holders of Equity shares will be entitled to receive any of the remaining assets of the Company, after distribution of all preferential amounts and Preference shares. The distribution will be in proportion to the number of Equity shares held by the Shareholders. Each holder of Equity shares is entitled to one vote per share.

 

                    ii.        Preference shares:

The Company has Preference shares having a par value of Rs. 100 per share. Each Shareholder is eligible for dividend depending upon their coupon rates. The Preference Shareholder is entitled to one vote per share only on resolutions placed before the Company which directly affect the rights attached to the Preference shares.

 

                   iii.        Dividend:

The Company declares and pays dividend in Indian rupees. The dividend proposed by the Board is subject to the approval of the Shareholders in the ensuing Annual General Meeting.

 

b)    Shares reserved for allotment at a later date:

56 Equity shares are held in abeyance due to disputes at the time of earlier rights issues.

 

 

Details of Shareholders holding more than 5% of Equity shares:

 

Name of Shareholder

Number of Shares

% holding

Aagam Holdings Pvt Ltd

67,25,501

22.67%

Aura Securities Pvt Ltd

16,14,045

5.44%

Aeon Investments Pvt Ltd

17,64,383

5.95%

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Cr]

 

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

296.800

296.800

296.800

(b) Reserves & Surplus

9861.000

9119.100

7264.100

(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)

10157.800

9415.900

7560.900

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

540.800

1133.600

1544.300

(b) Deferred tax liabilities (Net)

444.100

353.900

271.600

(c) Other long term liabilities

201.300

178.000

0.000

(d) long-term provisions

158.600

151.600

50.400

Total Non-current Liabilities (3)

1344.800

1817.100

1866.300

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

1641.400

1842.700

1604.500

(b) Trade payables

2626.300

3190.100

2753.200

(c) Other current liabilities

1422.200

1159.300

1129.600

(d) Short-term provisions

425.600

332.400

360.400

Total Current Liabilities (4)

6115.500

6524.500

5847.700

 

 

 

 

TOTAL

17618.100

17757.500

15274.900

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

4740.500

5196.000

4804.500

(ii) Intangible Assets

2.100

0.000

0.000

(iii) Capital work-in-progress

1040.800

529.800

459.300

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

1488.200

1364.700

1285.600

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

448.200

312.000

315.800

(e) Other Non-current assets

541.300

643.100

436.300

Total Non-Current Assets

8261.100

8045.600

7301.500

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

3496.500

3757.500

3075.300

(c) Trade receivables

4391.900

4472.600

3616.000

(d) Cash and cash equivalents

64.000

88.000

78.400

(e) Short-term loans and advances

1074.600

1025.400

1034.600

(f) Other current assets

330.000

368.400

169.100

Total Current Assets

9357.000

9711.900

7973.400

 

 

 

 

TOTAL

17618.100

17757.500

15274.900

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

Income

25556.500

23654.500

20014.800

 

Other Income

153.100

396.200

204.600

 

TOTAL SALES

25709.600

24050.700

20219.400

 

 

Less

Cost of Materials Consumed

13332.200

13246.000

11270.500

 

Purchases of Stock-in-Trade

282.200

236.900

163.600

 

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

161.200

(664.700)

(0.600)

 

Employees benefits expense

1538.500

1397.900

1276.000

 

Other expenses

6485.200

6007.100

4832.700

Exceptional Items

0.000

0.000

(53.800)

 

TOTAL (B)

21799.300

20223.200

17488.400

 

 

Less

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

3910.300

3827.500

2731.000

 

 

 

 

 

Less

FINANCIAL EXPENSES

236.400

314.300

316.200

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

3673.900

3513.200

2414.800

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION

552.800

542.300

490.600

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

3121.100

2970.900

1924.200

 

 

 

 

 

Less

TAX

946.900

843.000

569.000

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

2174.200

2127.900

1355.200

 

 

 

TOTAL EARNINGS

11634.100

10452.600

9290.100

 

 

 

IMPORTS

 

Raw Materials

3710.500

3871.600

3139.100

 

Trading finished goods

159.100

284.600

109.800

 

Capital Goods

58.300

76.800

44.500

 

TOTAL IMPORTS

3927.900

4233.000

3293.400

 

 

 

EARNINGS / (LOSS) PER SHARE (RS.)

73.30

71.74

45.69

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

627.100

531.500

402.200

Cash generated from operations

3886.900

2129.100

2194.100

Cash generated from (Used) operations

NA

NA

NA

Cash generated from Operating Activities

3169.600

1410.000

1870.900

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

PAT / Sales

(%)

8.51

9.00

6.77

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

15.30

16.18

13.64

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets)

(%)

20.68

18.73

14.22

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.31

0.32

0.25

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.21

0.32

0.42

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.53

1.49

1.36

 

 

STOCK PRICES

 

Face Value

Rs. 10.00/-

Market Value

Rs. 1613.50/-

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Cr]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

296.800

296.800

296.800

Reserves & Surplus

7264.100

9119.100

9861.000

Net worth

7560.900

9415.900

10157.800

 

 

 

 

long-term borrowings

1544.300

1133.600

540.800

Short term borrowings

1604.500

1842.700

1641.400

Current Maturities of Long term debt

402.200

531.500

627.100

Total borrowings

3551.000

3507.800

2809.300

Debt/Equity ratio

0.470

0.373

0.277

 

 

 

 

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

20014.800

23654.500

25556.500

 

 

18.185

8.041

 

 

 

 

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

20014.800

23654.500

25556.500

Profit

1355.200

2127.900

2174.200

 

6.77%

9.00%

8.51%

 

 

 

 

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

No

8

Designation of contact person

No

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

Yes

32

Litigations that the firm/promoter involved in

Yes

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

LITIGATION DETAILS

 

HIGH COURT OF GUJARAT

CIVIL APPLICATION (FOR ORDERS) No. 11985 of 2012

In FIRST APPEAL / 1951 / 2012 (PENDING)

Status: PENDING                        ( Converted from : CAST/12157/2012 )               CCIN No: 001003201211985

 

Last Listing Date: 16/01/2013

 

Coram: - HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA

HONOURABLE MR.JUSTICE J.B.PARDIWALA

 

S.NO.

Name of the Petitioner

Advocate On Record

1
2

JENSON NICHOLSAN INDIA LTD
S P SINHA

MR ADIL R MIRZA for: Petitioner(s) Description: http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1 - 2

S.NO.

Name of the Respondent

Advocate On Record

1

ATUL LIMITED

 

 

Presented On             : 16/10/2012                                                       Registered On              : 17/10/2012

Bench Category         : DIVISION BENCH                                              District                         : VALSAD

Case Originated From: THROUGH HIS/HER/THEIR ADVOCATE  Listed                           : 4 times

Stage Name                : NOTICE & ADJOURNED MATTERS

                                                                                   

Classification

·         DB - CIVIL APPLICATION - CODE OF CIVIL PROCEDURE, 1908 - PRODUCTION OF ADDITIONAL EVIDENCE
  • SJ - CIVIL APPLICATION - CODE OF CIVIL PROCEDURE, 1908 - DELETION OF PARTY

Act

·         CIVIL PROCEDURE CODE, 1908
  • COMPANIES ACT, 1956

 

Office Details

 

S. No

Filing Date

Document Name

Advocate Name

Court Fee on Document

Document Details

1

16/10/2012

APPLICATION

MR ADIL R MIRZA ADVOCATE
for PETITIONER(s) Description: http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

20

MR ADIL R MIRZA:1-2

 

Linked Matters

 

S. No.

Case Detail

Status Name

Disposal Date

Action/Coram

1

FIRST APPEAL/1951/2012

PENDING

-

·         HONOURABLE MR.JUSTICE RAVI         R.TRIPATHI 

·         HONOURABLE MR.JUSTICE R.D.KOTHARI

 

Court Proceedings

 

S. No.

Notified Date

CourtCode

Board Sr. No.

Stage

Action

Coram

1

18/10/2012

1

11

OFFICE OBJECTION REMOVED

NEXT DATE

·         HONOURABLE MR.JUSTICE D.H.WAGHELA 

·         HONOURABLE MR.JUSTICE Z.K.SAIYED

2

14/12/2012

1

6

NOTICE & ADJOURNED MATTERS

NEXT DATE

·         HONOURABLE MR.JUSTICE D.H.WAGHELA 

·         HONOURABLE MR.JUSTICE G.R.UDHWANI

3

20/12/2012

1

22

FOR REGULAR ADMISSION

NEXT DATE

·         HONOURABLE MR.JUSTICE D.H.WAGHELA 

·         HONOURABLE MR.JUSTICE G.R.UDHWANI

4

16/01/2013

1

18

NOTICE & ADJOURNED MATTERS

NEXT DATE

·         HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA 

·         HONOURABLE MR.JUSTICE J.B.PARDIWALA

Available Orders

S. No.

Case Details

Judge Name

Order Date

CAV

Judgement

Transferred

Download

1

CIVIL APPLICATION/11985/2012

·         HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA 

·         HONOURABLE MR.JUSTICE J.B.PARDIWALA

16/01/2013

N

ORDER

Y

Download

 

 

PERFORMANCE:

 

Sales increased by 9% from Rs. 23070.000 Million to Rs. 25100.000 Million aided by both higher volumes (5%) and prices (4%). Sales in India increased by 7% from Rs. 11990.000 Million to Rs. 12830.000 Million Sales outside India increased by 11% from Rs. 11080.000 Million to Rs. 12270.000 Million PBT in previous year included Rs. 200.000 Million of one-time dividend received; including such one-time income, the Earning per share increased from Rs. 71.74 to Rs. 73.30. While the operating profit before working capital changes increased by 6% from Rs. 3600.000 Million to Rs. 3830.000 Million the net cash flow from operating activities increased by 125% from Rs. 1410.000 Million to Rs. 3170.000 Million mainly on account of the reduction in working capital and other current assets.

 

Sales of Life Science Chemicals (LSC) Segment decreased by 8% from Rs. 7380.000 Million to Rs. 6760.000 Million, mainly because of lower sales in Crop Protection Business; its EBIT decreased by 21% from Rs. 1500.000 Million to Rs. 1190.000 Million Sales of Performance and Other Chemicals (POC) Segment increased by 17% from Rs.  15690.000 Million to Rs. 18340.000 Million, supported by growth in Aromatics, Colors and Polymers Businesses; its EBIT increased by 40% from Rs. 1730.000 Million to Rs. 2420.000 Million More details are given in the Management Discussion and Analysis (MDA) Report.

 

The Company reduced its borrowings (including current maturities of long-term borrowings) by 20% from Rs. 3510.000 Million to Rs. 2810.000 Million despite the growth in sales and payments towards capital expenditure of Rs. 1920.000 Million. The Company improved its credit rating from ‘AA‘ (double A) to ‘AA+’ (double A plus) for its long-term borrowings awarded by Credit Analysis and Research Ltd (CARE). Its rating for short-term borrowings and commercial paper remained at ‘A1+’ (A1 plus), the highest possible awarded by CARE. The Company completed 4 projects with an investment of Rs. 330.000 cr which are expected to generate sales of Rs. 1430.000 Million at full capacity utilization.

 

 

CROP PROTECTION

 

Product Groups: Fungicides, Herbicides, Others

 

The products falling under these product groups are used by customers belonging to Crop Protection Chemicals and Agriculture industries. The product groups comprise about 15 products and 48 formulations. 2, 4-D, Indoxacarb and Nicosulfuron are some of the key products. During 2014-15, sales decreased by 21% from Rs. 4330.000 Million to Rs. 3420.000 Million Sales in India decreased by 2% from Rs. 1970.000 Million to Rs. 1940.000 Million; bulk sales in India decreased by 22% from Rs.  940.000 Million to Rs.  730.000 Million whereas brand sales which are currently only in India increased by 17% from Rs. 1030.000 Million to Rs.  1210.000 Million. Sales outside India decreased by 37% from Rs. 2360.000 Million to Rs. 1480.000 Million and formed 43% of the total. Decline on account of volume was 20%. Sales decreased mainly because of lack of demand for one of the key herbicides. Sales from new products and formulations were Rs.  40.000 Million. The Company completed 3 projects and undertook 1 project for implementation. The size of world Crop Protection Chemical industry is estimated at US$ 56 b and is growing at about 3.5%. There are about 60 major companies which dominate the world marketplace. The size of world Agriculture industry is estimated at US$ 3.02 t and is growing at about 1.50%.

 

The main user industries, namely Crop Protection Chemicals and Agriculture, are growing well because of the need to feed a growing population under constraints of related resources. The Company will participate in this growth by i) building a strong sales and marketing organization and broadening and deepening its presence in other countries, particularly in Africa and South America, ii) promoting its brand sales, iii) improving its manufacturing and working capital efficiencies, iv) generating and adding capacities and v) introducing new products and formulations. Floods or famines may adversely affect the demand. Fluctuations in foreign exchange may impact sales realizations. Given that some of these chemicals can be toxic, it is essential to take due care in their manufacture and use. Registration costs are high in certain countries.

 

 

PHARMACEUTICALS

 

Product Groups: Active Pharmaceutical Ingredients, API Intermediates, Others

 

The products falling under these product groups are used by customers belonging to Pharmaceutical industry for various therapeutic categories, such as anti-depressant, anti-diabetic, anti-infective, anti-retroviral and cardiovascular. The product groups comprise about 50 products. Cbz- L-Valine, 1-Chloroethyl isopropyl carbonate and (S)-1-(2-chloroacetyl) pyrrolidine-2-carbonitrile are some of the key products.

 

During 2014-15, sales increased by 9% from Rs. 3060.000 cr to Rs. 3340.000 Million. Sales in India increased by 8% from Rs. 1720.000 Million to Rs. 1860.000 Million Sales outside India increased by 10% from Rs. 1340.000 Million to Rs. 1480.000 Million and formed 44% of the total. Growth on account of volume was 9%. The Company received its first USFDA approval for one of its products; it is in the process of expanding its API plant. Atul Bioscience Ltd (ABL), a 100% subsidiary company, focused on production of advanced API intermediates and increased its sales by 37% from Rs. 350.000 Million to Rs. 470.000 Million, primarily because of volume; it undertook 1 project for implementation.

 

The size of world API industry is estimated at US$ 120 b and is growing at about 9.4%. There are about 20 major companies which dominate the world marketplace. The size of world Pharmaceutical industry is estimated at US$ 0.8 t and is growing at about 8%. The main user industry, namely, Pharmaceutical, is growing well because of increasing awareness about diseases and health. The Company along with ABL will participate in this growth by i)

widening its market reach, ii) increasing its manufacturing efficiencies, iii) generating and adding capacities and iv) introducing new products. It will also form long-term strategic alliances with other companies. The prices of some products may come down in a short time. Fluctuations in foreign exchange may impact sales realizations.

 

 

AROMATICS

 

Product Groups: Intermediates, Perfumery, Others

 

The products falling under these product groups are mainly used by customers belonging to Fragrance and Personal Care industries. The product groups comprise about 29 products. P-Cresol, p-Anisic Aldehyde and Sodium Sulphate are some of the key products. During 2014-15, sales increased by 27% from Rs. 410 Million to Rs. 522 Million. Sales in India increased by 37% from Rs. 1020.000 Million to Rs. 1400.000 Million. Sales outside India increased by 24% from Rs. 3080.000 Million to Rs. 3820.000 Million and formed 73% of the total. Growth on account of volume was 16%. The Company completed 2 projects and undertook 1 project for implementation.

 

World market of p-Cresol (a key product) is estimated at 57,000 MT and is growing at about 2%. Though earlier the product used to be manufactured in the UK and the USA, China and India are now the major suppliers of the product. The size of world Fragrance industry is estimated at US$ 10.5 b and is growing at about 4% and the size of world Personal Care industry is estimated at US$ 1 b and is growing at about 5%. The main user industries, namely, Fragrance and Personal Care, are growing well because of improving standard of living. The Company will participate in this growth by i) broadening its market reach, ii) increasing its manufacturing efficiencies, iii) generating and adding capacities and iv) introducing new products. The prices of key raw materials which are derived from crude oil fluctuate almost monthly whereas the customers in the user industries expect the prices of the finished products to remain firm for a quarter or even more; on such occasions, it is possible to get affected adversely. Fluctuations in foreign exchange may impact sales realizations.

 

 

BULK CHEMICALS AND INTERMEDIATES

 

Product Groups: Bulk chemicals, Adhesion promoters, Others

 

The products falling under these product groups are used mainly for internal consumption and by customers belonging to Cosmetics, Dyestuffs and Tyre industry. The product groups comprise about 26 products. Resorcinol, Resorcinol Formaldehyde Resins and Sulphur Trioxide are some of the key products. During 2014-15, (external) sales increased by 1% from Rs. 99 Million to Rs. 100 Million. Sales in India decreased by 33% from Rs. 82 Million to Rs. 55 Million Sales outside India increased by 165% from Rs. 17 Million to Rs. 45 Million and formed 45% of the total. Volumes remained stable. The Company completed 1 project and undertook 1 project for implementation.

 

The size of world Chlor-alkali industry is estimated at US$ 46 b and is growing at about 2%. World market for Resorcinol (a key product) is estimated at US$ 310 m and is growing at about 3%. The size of world Tyre industry is estimated at US$ 220 b and is growing at about 6.5%. The captive consumption of bulk chemicals is expected to grow as the Company expands manufacturing capacities of its various products. Tyre industry is expected to grow further because of increasing population on the one hand and improving standard of living on the other. The Company will participate in this growth by i) widening its market reach, ii) increasing its manufacturing efficiencies, iii) generating and adding capacities and iv) introducing downstream products. The demand and prices of bulk chemicals are cyclical in nature. Fluctuations in foreign exchange may impact sales realizations.

 

 

COLORS

 

Product Groups: Textile dyes, Textile chemicals, Pigments, Paper dyes, Inks, Others

 

The products falling under these product groups are used by customers belonging to Textile, Paint and Coatings and Paper industries. The product groups comprise about 38 products. Green 1, P Red 168 and Sulphur Black are some of the key products. During 2014-15, sales increased by 21% from Rs. 426 Million to Rs. 515 Million Sales in India increased by 8% from Rs. 2310.000 Million to Rs. 2500.000 Million Sales outside India increased by 36% from Rs. 1950.000 Million to Rs. 2650.000 Million and formed 51% of the total. Growth on account of volume was 8%. The Company completed 3 projects and undertook 2 projects for implementation. Rudolf Atul Chemicals Ltd (RACL), a joint venture company formed in 2011-12, provides a complete range of textile chemicals in Indian market; it increased sales by 39% from Rs. 310.000 Million to Rs. 430.000 Million, primarily because of volume.

 

The size of world Dyestuff industry is estimated at US$ 6 b and is growing at about 3.5%. China is the largest manufacturer of dyes followed by India. World market for high performance pigments is estimated at US$ 4.3 b and is growing at about 2.7%. The main user industries, namely, Paint and Coatings and Textile, will continue to grow because of increase in discretionary spending. The Company along with RACL will participate in this growth by i) broadening its market reach in new geographies, ii) increasing its manufacturing and working capital efficiencies and iii) introducing new dyes, pigments and products for non-textile applications. Fluctuations in foreign exchange and availability of raw materials may impact sales realizations. Treatment costs are expected to remain high given that the manufacture of dyes and pigments generates significant pollutants.

 

 

POLYMERS

 

Product Groups: Epoxy resins and hardeners, Reactive diluents, Sulphones, Others

 

The products falling under these product groups are used by customers belonging to Aerospace, Automobile, Composites, Construction, Defence, Electrical and Electronics, Footwear, Paint and Coatings, Paper, Sports and Leisure and Wind Energy industries. The product groups comprise about 75 products and 276 formulations. B11, P62 and P101 are some of the key products.

 

During 2014-15, sales increased by 10% from Rs. 6330.000 Million to Rs. 6970.000 Million Sales in India increased by 10% from Rs. 4150.000 Million to Rs. 4580.000 Million Brand sales increased by 12% from Rs. 850.000 Million to Rs. 950.000 Million Sales outside India increased by 10% from Rs. 2180.000 Million to Rs. 2390.000 Million and formed 34% of the total. Growth on account of volume was 10%. Sales from new products were Rs. 170.000 Million the Company completed 1 project and undertook 3 projects for implementation.

 

World market for Epoxy resins and hardeners is estimated at US$ 6.3 b and is growing at about 2% and Indian market is estimated at US$ 236 m and is growing at about 5%. There are about 7 major companies which dominate the world marketplace. World market for Sulphones (a hardener) is estimated at US$ 312 m and is growing at about 4%. The user industries, Construction, Defense, Electrical and Electronics, Paint and Coatings and Wind energy are growing well, particularly in India. The Company will participate in this growth by i) widening

its market reach, ii) increasing its manufacturing and working capital efficiencies, iii) generating and adding new capacities of Epoxy resins and hardeners and iv) introducing new products and formulations. Cheaper imports of Epoxy resins and hardeners may keep the contribution margins under pressure. Since the two main raw materials, namely Bisphenol-A and Epichlorohydrin, are imported, fluctuations in foreign exchange may impact margins.

 

 

UNSECURED LOAN:

 

Particulars

31.03.2015

Rs. In Million

31.03.2014

Rs. In Million

Long-term Borrowings

 

 

Rupee term loans from a bank

0.000

1.000

 

 

 

Short-term borrowings

 

 

Loan from banks including foreign banks

125.200

550.000

Commercial papers

1000.000

0.000

Deposit from the Directors

0.100

0.000

Total

1125.300

551.000

 

 

CONTINGENT LIABILITIES:

(Rs. in millions)

PARTICULARS

31.03.2015

Claims against the Company not acknowledged as debts in

respects of:

 

Excise

72.500

Income tax

83.300

Sales tax

6.700

Customs

1.800

Water charges

798.400

Customer claims

323.500

Others

149.300

 

 

Guarantees given by the Company:

 

Corporate guarantee to a bank on behalf of a subsidiary company

for facilities availed by it

92.500

Total

1528.00

 

Note:

Future cash outflows in respect of (a) to (g) above are determinable on receipt of judgments/ decisions pending with various forums authorities.

 

 

STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED

30TH JUNE 2015

 (Rs. In Million)

Particulars

Quarter Year Ended

 

30.06.2015

1. Income from operations

 

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

5762.000

b) Other operating income

111.600

Total income from Operations(net)

 

2.Expenditure

 

a) Cost of material consumed

3206.600

b) Purchases of stock in trade

85.300

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

(379.000)

d) Employees benefit expenses

403.500

e) Depreciation and amortization expenses

141.000

f) Power and Fuel

663.800

g) Other expenditure

909.100

Total expenses

5030.300

3. Profit from operations before other income and financial costs

843.300

4. Other income

82.200

5. Profit from ordinary activities before finance costs

925.500

6. Finance costs

52.700

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

872.800

8. Exchange Currency Fluctuation Loss/ (Gain)

0.000

9. Profit from ordinary activities before tax Expense:

872.800

10.Tax expenses

 

-- Current Tax

272.500

-- MAT (Credit) / Reversal

0.000

-- Deferred Tax

(0.200)

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

600.500

12.Extraordinary Items (net of tax expense)

0.000

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

600.500

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

296.600

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

0.000

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

 

(a) Basic and diluted

20.24

 

 

A. Particulars of shareholding

 

1. Public Shareholding

 

- Number of shares

 

- Percentage of shareholding

1,46,18,354

2. Promoters and Promoters group Shareholding-

49.28%

a) Pledged /Encumbered

 

Number of shares

12,30,000

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

8.18%

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

4.15%

 

 

b) Non  Encumbered

 

Number of shares

1,38,13,379

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)

91.82%

 

46.57%

B. Investor Complaints

 

Pending at the beginning of the quarter

NIL

Receiving during the quarter

3

Disposed of during the quarter

3

Remaining unreserved at the end of the quarter

NIL

 

 

SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED UNDER CLAUSE 41 OF THE LISTING AGREEMENT FOR THE QUARTER ENDED 30TH JUNE 2015

 

 (Rs. In Million)  

Particulars

Quarter Year Ended

 

30.06.2015

1. Segment Revenue

 

a) Life Science Chemicals

1683.000

b) Performance and Other Chemicals

4445.600

Total segment revenue

6128.600

Less: Inter – segment revenue

366.600

Total income from operations (net sales)

5762.000

 

 

2. Segment Results

 

Profit/ (loss) before tax and interest

 

a) Life Science Chemicals

334.900

b) Performance and Other Chemicals

605.000

Total segment results

939.900

(Add)/Less: Finance Costs

52.700

Other un-allocable expenditure net off un-allocable other operating income

14.400

Total Profit Before Tax

872.800

 

 

3. Capital Employed

 

(Segment Assets – Segment Liabilities)

 

a) Life Science Chemicals

3559.700

b) Performance and Other Chemicals

8048.200

Add : Unallocable Assets Less Liabilities

1937.900

 

 

Total Capital Employed In the Company

13545.800

 

 

Notes:

 

  1. The above results have been reviewed and recommended for adoption by the Audit Committee in its meeting held on July 23, 2015 and approved by the Board of Directors at its meeting held on July 24, 2015. The report of the Statutory Auditors contains no qualification.
  2. The Board of Directors approved the Draft Scheme of merger of Amal Ltd with the Company on December 05, 2014. The appointed date of the Scheme is April 01, 2014. The Scheme shall be subject to appropriate statutory and regulatory approvals, which the company is in the process of obtaining. Pending such approvals, effect of the Scheme is not given in the above results.
  3. Figures of the earlier periods have been regrouped | recast | reclassified wherever necessary including in the Segment revenue, results and capital employed.
  4. The unaudited Segment revenue, results and capital employed are annexed.

 

 

INDEX OF CHARGE:

 

Sr. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10409602

16/03/2013 *

527,700,000.00

STATE BANK OF INDIA

MID CORPORATE GROUP, COMMERCIAL BR., PARAMSIDDHI, COMPLEX, ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA

B71065403

2

10294426

30/07/2011 *

562,500,000.00

INTERNATIONAL FINANCE CORPORATION

MARUTI SUZUKI BUILDING, 3RD FLOOR, PLOT NO. 1, NELSON MANDELA ROAD, VASANT KUNJ, NEW DELHI, DELHI - 110070, INDIA

B18004713

3

10273656

31/05/2012 *

276,000,000.00

BARCLAYS BANK PLC

FIRST FLOOR, EROS CORPORATE TOWER, NEHRU PLACE, N 
EW DELHI, DELHI - 110019, INDIA

B40839474

4

10090594

25/03/2008 *

781,200,000.00

INTERNATIONAL FINANCE CORPORATION

GODREJ BHAVAN, 3RD FLOOR, MURZBAN ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A34455931

5

80026120

03/08/2013 *

4,300,000,000.00

STATE BANK OF INDIA(LEAD BANK OF CONSORTIUM MEMBER 
BANKS)

PARAMSIDDHI, COMMERCIAL BRANCH, OPP V S HOSPITAL, 
ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA

B82224783

6

80026296

08/03/1999

150,000,000.00

EXPORT IMPORT BANK OF INDIA

CENTRE ONE, WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

-

 

*Date of modification Charges

 

 

FIXED ASSETS:

 

Tangible Assets

  • Land – freehold
  • Buildings
  • Roads
  • Plant and equipment
  • Railway siding
  • Office equipment and furniture
  • Vehicles

 

Intangible Assets

  • Computer software

 

 

 

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. 64.82

UK Pound

1

Rs. 100.41

Euro

1

Rs. 74.50

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

SYL

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

8

PAID-UP CAPITAL

1~10

8

OPERATING SCALE

1~10

8

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

8

--PROFITABILITY

1~10

8

--LIQUIDITY

1~10

8

--LEVERAGE

1~10

8

--RESERVES

1~10

8

--CREDIT LINES

1~10

8

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

YES

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

YES

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

 

 

 

TOTAL

 

72

 

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.