MIRA INFORM REPORT
|
Report No. : |
345325 |
|
Report Date : |
16.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
KANORIA CHEMICALS AND INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
"Park
Plaza", 71, Park Street, Kolkata- 700 016, West Bengal |
|
Tel No.: |
91-33-40313200 |
|
|
|
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
17.12.1960 |
|
|
|
|
Com. Reg. No.: |
21-024910 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.218.490 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24110WB1960PLC024910 |
|
|
|
|
IEC No.: |
0288000994 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCK1291K |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Subject is involved in Manufacturing and selling chemical and
chemical intermediates and also involved in the development and sale of
electronic and mechatronic modules, and control devices for the automotive,
consumer goods, power tool electronics, and building automation industries. |
|
|
|
|
No. of Employees
: |
333 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (57) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exists |
|
|
|
|
Comments : |
Subject was promoted by Mr. S.S. Kanoria about five decades ago, is
the flagship company of Mr. S.S. Kanoria faction of Kolkata-based Kanoria
family. Presently, the company has two manufacturing facilities, one at
Ankleshwar, Gujarat, which manufactures Alcohol and Alcohol based
intermediates; and second at Visakhapatnam, Andhra Pradesh, which
manufactures Formaldehyde and Hexamine. It has fine track record. The company possesses a decent profile marked by decent networth base
along with fair liquidity and profitability. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitments. In view of experienced promoters and long and successful track record,
the company can be considered for business dealings at usual trade terms and
conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: AA- |
|
Rating Explanation |
Have high degree of safety and carry low credit risk. |
|
Date |
07.10.2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: A1+ |
|
Rating Explanation |
Have very strong degree of safety and carry lowest credit risk. |
|
Date |
07.10.2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Nirmal Kumar Nolkha |
|
Designation : |
Chief Financial Officer |
|
Contact No.: |
91-33-40313200 |
|
Date : |
14.10.2015 |
LOCATIONS
|
Registered Office : |
"Park
Plaza" 71, Park Street, Kolkata- 700 016, West Bengal, India |
|
Tel. No.: |
91-33-40313200 |
|
Fax No.: |
91-33-40313220 |
|
E-Mail : |
investor@kanoriachem.com |
|
Website : |
www.kanoriachem.com |
|
Area: |
2000 Sq. Ft. (Approximately) |
|
Location : |
Owned |
|
Locality: |
Commercial |
|
|
|
|
Corporate Office : |
Indra
Prakash, 21 Barahamba Road, New Delhi – 110001, India |
|
Tel. No.: |
91-11-43579200 |
|
Fax No.: |
91-11-23717203/ 23355824 |
|
|
|
|
Factory : |
Saltworks P.O. Samakhali-370 150, Gandhidham ( Alco Chemicals Segment Ankleshwar Chemical Works 3407, GIDC Industrial Estate, P.O.
Ankleshwar-393 002, Gujarat, India Tel: 91-2646-668801-04 Fax: 91-2646-251816 Bio-Compost Plant Village Sengpur, Taluka: Ankleshwar-393
002, Gujarat, India Wind Farm Vill: Dhank Jaluka: Upleta, Dist: Rajkot,
Gujarat, India Vizag
Chemical Works Plot No.32, Jawalharlal Nehru, Pharma
City, Parwada, Vishakhapatnam – 531 021 Tel: 91-8924-236056 Solar
Power Plant VIII, Bawdi Barsinga, P.O. Bap, Tehsil:
Phalodi, District: Jodhpur, Rajasthan, India |
DIRECTORS
As on 31.03.2015
|
Name : |
Mr. Rajya Vardhan Kanoria |
|
Designation : |
Managing director |
|
Address: |
A-45,Vasant Marg, Vasant Vihar, Delhi -110057, India |
|
Date of Appointment: |
09.11.1982 |
|
DIN No.: |
00003792 |
|
|
|
|
Name : |
Mr. Tulsi Das Bahety |
|
Designation : |
Whole-time director |
|
Address: |
D-22, Takshshila Apartments, Plot No. 57, IP Extension, Patparganj, Delhi - 110092, India |
|
Date of Appointment: |
20.05.1998 |
|
DIN No.: |
00031572 |
|
|
|
|
Name : |
Mr. Hemant Kumar Khaitan |
|
Designation : |
Director |
|
Address: |
4, Queens Park, Ballygung, Kolkata - 700019, West Bengal, India |
|
Date of Appointment: |
09.01.1982 |
|
DIN No.: |
00220049 |
|
|
|
|
Name : |
Mr. Madhuvanti Kanoria |
|
Designation : |
Director |
|
Address: |
A-45, Vasant Marg, Vasant Vihar, Delhi - 110057, Delhi, India |
|
Date of Appointment: |
11.02.2015 |
|
DIN No.: |
00142146 |
|
|
|
|
Name : |
Mr. Vellayan Arunachalam |
|
Designation : |
Director |
|
Address: |
No: 5 Ambadi Road, Kotturpuram, Chennai - 600085, Tamilnadu, India |
|
Date of Appointment: |
01.10.1997 |
|
DIN No.: |
00148891 |
|
|
|
|
Name : |
Mr. Surendra Laxminarayan Rao |
|
Designation : |
Director |
|
Address: |
D-1, Chartered Cottage, 8 Langford Road, Bangalore - 560025, Karnataka, India |
|
Date of Appointment: |
25.10.2002 |
|
DIN No.: |
00005675 |
|
|
|
|
Name : |
Mr. Gopalaswami Parthasarathy |
|
Designation : |
Director |
|
Address: |
A-34, I F S Apartments, Mayur Vihar, Phase-1, Delhi - 110091, India |
|
Date of Appointment: |
14.05.2003 |
|
DIN No.: |
00068510 |
|
|
|
|
Name : |
Mr. Amitav Kothari |
|
Designation : |
Director |
|
Address: |
26b, Camac Street, 8E, Neelkanth Building, Kolkata - 700016, West Bengal, India |
|
Date of Appointment: |
01097705 |
|
DIN No.: |
05.05.2009 |
|
|
|
|
Name : |
Mr. Ravinder Nath |
|
Designation : |
Director |
|
Address: |
Maulseri House, 7, Kapashera Estate, Delhi - 110037, Delhi, India |
|
Date of Appointment: |
26.04.2002 |
|
DIN No.: |
00062186 |
KEY EXECUTIVES
|
Name : |
Mr. Narendra Kumar |
|
Designation : |
Company Secretary |
|
Address: |
8a Debendra Ghosh Road, Kolkata - 700025, West Bengal, India |
|
Date of Appointment: |
06.08.2005 |
|
PAN No.: |
AIWPS6076J |
|
|
|
|
Name : |
Mr. Nirmal Kumar Nolkha |
|
Designation : |
Chief Financial Officer |
|
Address: |
M 402 Vip Enclave, Vip Road Raghunathpur, Kolkata -
700059, West Bengal, India |
|
Date of Appointment: |
01.04.2014 |
|
PAN No.: |
AIZPN4769J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2015
|
Category of Shareholder |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
1585386 |
3.63 |
|
|
30498899 |
69.80 |
|
|
32084285 |
73.43 |
|
|
|
|
|
|
434739 |
0.99 |
|
|
434739 |
0.99 |
|
Total shareholding of Promoter and Promoter Group (A) |
32519024 |
74.43 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
30600 |
0.07 |
|
|
13832 |
0.03 |
|
|
208391 |
0.48 |
|
|
26141 |
0.06 |
|
|
278964 |
0.64 |
|
|
|
|
|
|
1273499 |
2.91 |
|
|
|
|
|
|
6830171 |
15.63 |
|
|
1846929 |
4.23 |
|
|
944746 |
2.16 |
|
|
292511 |
0.67 |
|
|
417958 |
0.96 |
|
|
98720 |
0.23 |
|
|
18329 |
0.04 |
|
|
117228 |
0.27 |
|
|
10895345 |
24.94 |
|
Total Public shareholding (B) |
11174309 |
25.57 |
|
Total (A)+(B) |
43693333 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
43693333 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is involved in Manufacturing and selling chemical
and chemical intermediates and also involved in the development and sale of
electronic and mechatronic modules, and control devices for the automotive,
consumer goods, power tool electronics, and building automation industries. |
|
|
|
|
Products : |
Chemical Intermediates |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
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|
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Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
|
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|
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Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
|
|
|
|
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Terms : |
|
|
Selling : |
Cash and Credit (30/60/90 Days) |
|
|
|
|
Purchasing : |
Cash and Credit (30/60/90 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users and OEMs
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No. of Employees : |
333 (Approximately) |
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Bankers : |
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|
||||||||||||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Singhi and Company Chartered Accountants |
|
Address : |
1-B, Old Post Office Street, Kolkata - 700 001, West Bangla, India |
|
Tel No.: |
91-33-22484573/77 |
|
Mobile No.: |
91-9836233222 |
|
Fax No.: |
91-33.22307146 |
|
Email: |
kolkata@singhico.com |
|
Website: |
www.singhico.com |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding Company: |
|
|
|
|
|
Subsidiary
Companies: |
|
|
|
|
|
Enterprises over
which Key Management Personnel exercises
significant influence: |
|
CAPITAL STRUCTURE
As on 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000000 |
Equity Shares |
Rs.5/- each |
Rs. 500.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
43693333 |
Equity Shares |
Rs.5/- each |
Rs. 218.470 Million |
|
|
Add: Forfeited Shares (Amount paid up) |
|
Rs. 0.020 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 218.490 Million |
NOTE:
(Rs. In Million)
|
|
31.03.2015 |
|
Reconciliation of number of Shares (Nos.): |
|
|
Outstanding at the beginning of the year |
43693333 |
|
Less: Shares brought-back |
-- |
|
Outstanding at the
end of the year |
43693333 |
The Company has only one class of issued shares i.e. Equity Share having par value of Rs.5 per share. Each holder of Equity Share is entitled to one vote per share and equal right for dividend. The dividend proposed by the Board of Directors is subject to the approval of shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after payment of all preferential amounts, in proportion to their shareholding.
Vardhan Limited, the holding company, holds 26,133,872 Equity Shares of Rs.5 each in the company.
Details of
shareholders holding more than 5 percent equity shares:
(Rs. In Million)
|
Name of the
Shareholders |
31.03.2015 |
|
|
|
No. of shares |
% of Holding |
|
Vardhan Limited |
26133872 |
59.81 |
|
R V Investment and Dealers Limited |
3210120 |
7.35 |
No Shares have been reserved for issue under options and contracts/commitments for the sale of shares/disinvestment as at the Balance Sheet date.
The Company, during the year 2012-13, had bought back 12,603,167 Equity Shares of Rs.5 each.
None of the securities are convertible into shares at the end of the reporting period.
No calls are unpaid by any Director or Officer of the Company during the year.
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
218.490 |
218.490 |
218.490 |
|
(b) Reserves & Surplus |
4678.320 |
4604.100 |
4407.760 |
|
(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) |
4896.810 |
4822.590 |
4626.250 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
287.760 |
503.850 |
646.920 |
|
(b) Deferred tax liabilities
(Net) |
180.790 |
194.700 |
187.340 |
|
(c) Other long term
liabilities |
1.620 |
1.870 |
1.540 |
|
(d) long-term provisions |
55.030 |
49.000 |
39.330 |
|
Total
Non-current Liabilities (3) |
525.200 |
749.420 |
875.130 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
540.490 |
382.270 |
604.110 |
|
(b) Trade payables |
282.760 |
545.880 |
200.950 |
|
(c) Other current liabilities |
246.180 |
273.960 |
269.020 |
|
(d) Short-term provisions |
82.130 |
79.070 |
80.660 |
|
Total
Current Liabilities (4) |
1151.560 |
1281.180 |
1154.740 |
|
|
|
|
|
|
TOTAL |
6573.570 |
6853.190 |
6656.120 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2199.270 |
2385.850 |
2435.430 |
|
(ii) Intangible Assets |
0.420 |
0.560 |
1.710 |
|
(iii) Capital work-in-progress |
7.650 |
1.090 |
17.810 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2408.990 |
2411.040 |
2648.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
319.380 |
96.380 |
130.380 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
4935.710 |
4894.920 |
5233.330 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
226.500 |
255.830 |
286.360 |
|
(b) Inventories |
376.620 |
629.010 |
269.870 |
|
(c) Trade receivables |
395.720 |
522.960 |
368.760 |
|
(d) Cash and cash equivalents |
20.830 |
34.940 |
111.700 |
|
(e) Short-term loans and
advances |
395.720 |
389.500 |
316.600 |
|
(f) Other current assets |
222.470 |
126.030 |
69.500 |
|
Total
Current Assets |
1637.860 |
1958.270 |
1422.790 |
|
|
|
|
|
|
TOTAL |
6573.570 |
6853.190 |
6656.120 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
3106.740 |
3397.640 |
2425.510 |
|
|
Other Income |
309.460 |
405.770 |
241.480 |
|
|
TOTAL
|
3416.200 |
3803.410 |
2666.990 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
2143.190 |
2303.590 |
1626.680 |
|
|
Purchases of Stock-in-Trade |
4.250 |
102.690 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
43.690 |
(19.010) |
(2.060) |
|
|
Exceptional Item |
12.180 |
0.000 |
|
|
|
Employees benefits expense |
176.730 |
167.300 |
158.060 |
|
|
Other expenses |
628.900 |
593.650 |
608.550 |
|
|
TOTAL
|
3008.940 |
3148.220 |
2391.230 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
407.260 |
655.190 |
275.760 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
64.320 |
155.320 |
68.940 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
342.940 |
499.870 |
206.820 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
186.610 |
153.580 |
131.360 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
156.330 |
346.290 |
75.460 |
|
|
|
|
|
|
|
Less |
TAX |
3.470 |
73.270 |
27.790 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
152.860 |
273.020 |
47.670 |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
711.910 |
1515.570 |
1549.580 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
0.000 |
1000.000 |
5.000 |
|
|
Proposed Dividend on Equity
Shares |
65.540 |
65.540 |
65.540 |
|
|
Provision for Dividend Tax |
13.100 |
11.140 |
11.140 |
|
|
Total
|
78.640 |
1076.680 |
81.680 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
786.130 |
711.910 |
1515.570 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
180.630 |
115.210 |
48.490 |
|
|
Other |
2.020 |
2.920 |
5.230 |
|
|
TOTAL
EARNINGS |
182.65 |
118.13 |
53.720 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
1117.550 |
1323.170 |
641.460 |
|
|
Components and Stores parts |
48.710 |
58.510 |
60.290 |
|
|
Capital Goods |
0.830 |
2.150 |
7.030 |
|
|
TOTAL
IMPORTS |
1197.090 |
1383.830 |
708.780 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
3.50 |
6.25 |
0.89 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
191.840 |
201.950 |
186.220 |
|
Cash generated from operations |
195.740 |
53.200 |
(82.850) |
|
Net cash flow from operating activity |
172.820 |
(32.450) |
(103.03.) |
QUARTERLY
RESULTS
|
Particulars |
30.06.2015 1st Quarter |
|
UnAudited |
|
|
Net Sales |
805.400 |
|
Total Expenditure |
697.800 |
|
PBIDT (Excl OI) |
107.600 |
|
Other Income |
31.700 |
|
Operating Profit |
139.300 |
|
Interest |
27.100 |
|
Exceptional Items |
NA |
|
PBDT |
112.200 |
|
Depreciation |
44.700 |
|
Profit Before Tax |
67.500 |
|
Tax |
9.300 |
|
Provisions and contingencies |
NA |
|
Profit After Tax |
58.200 |
|
Extraordinary Items |
NA |
|
Prior Period Expenses |
NA |
|
Other Adjustments |
NA |
|
Net Profit |
58.200 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
4.92 |
8.04 |
1.97 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
13.11 |
19.28 |
11.37 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.76 |
7.80 |
1.89 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.07 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.21 |
0.23 |
0.31 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.42 |
1.53 |
1.23 |
STOCK
PRICES
|
Face Value |
Rs. 5/- |
|
Market Value |
Rs.52.10/- |
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 |
218.490 |
218.490 |
218.490 |
|
Reserves & Surplus |
4407.760 |
4604.100 |
4678.320 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
4626.250 |
4822.590 |
4896.810 |
|
|
|
|
|
|
long-term borrowings |
646.920 |
503.850 |
287.760 |
|
Short term borrowings |
604.110 |
382.270 |
540.490 |
|
Current maturities of
long-term debts |
186.220 |
201.950 |
191.840 |
|
Total
borrowings |
1437.250 |
1088.070 |
1020.090 |
|
Debt/Equity
ratio |
0.311 |
0.226 |
0.208 |
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 |
2425.510 |
3397.640 |
3106.740 |
|
|
|
40.079 |
(8.562) |
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 |
2425.510 |
3397.640 |
3106.740 |
|
Profit |
47.670 |
273.020 |
152.860 |
|
|
1.97% |
8.04% |
4.92% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
Yes |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
CALCUTTA HIGH COURT
CASE STATUS INFORMATION SYSTEM
|
Case Status : Pending |
|||||
|
|
|||||
|
Status of INCOME TAX APPEAL (ITA) 277 of 2009 COMMISSIONER OF INCOME TAX, KOLKATA - IV |
|||||
|
|
|||||
|
Vs. KANORIA CHEMICALS AND INDUSTRIES LIMITED |
|||||
|
|
|||||
|
Pet's Adv. : S. S. SARKAR |
|||||
|
|
|||||
|
Res's Adv. : CHANDRA SHEKHAR DAS |
|||||
|
|
|||||
|
|||||
|
Next/Final Date of Hearing : Monday, October 05, 2015 |
|||||
|
Case Updated in: Thursday, October 01. 2015 |
|||||
|
|
|||||
|
Category : INCOME TAX : REVENUE |
|||||
|
|
|||||
|
|||||
|
|
OVERVIEW
Sluggish market conditions coupled with very high volatility in raw material prices affected the performance of the chemical manufacturing division. Profit margins were under pressure during the year. The prices of raw materials, however, are now more stable and the margins have improved.
The solar power segment witnessed stable operations during the year.
The first phase of production in the composite textile plant to manufacture denim fabrics in Ethiopia by the Company`s subsidiary, Kanoria Africa Textiles PLC has been delayed.
The learning curve of doing business in an alien geography is proving to be longer than anticipated. It is expected that the full plant shall become operational by August, 2015.
The brown field expansion of APAG Elektronik s.r.o. in the Czech Republic was completed in record time and the state of the art plant has been operational since December, 2014.
AWARDS AND
RECOGNITION
During the year, the Company was awarded the prestigious ET (Economic Times) Bengal Corporate Award, 2015 in the category of "Fastest Growing Company" with turnover between Rs. 3000.000 Million and Rs. 10000.000 Million.
UNSECURED LOAN
(Rs. In Million)
|
Particulars |
As
on 31.03.2015 |
As
on 31.03.2014 |
|
SHORT TERM
BORROWING |
|
|
|
Commercial Paper |
250.000 |
0.000 |
|
Total |
|
|
|
|
250.000 |
0.000 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10592739 |
22/09/2015 |
370,000,000.00 |
DBS BANK LIMITED |
(ACTING AS AN SECURITY TRUSTEE,
SINGAPORE), 4A, N |
C65096927 |
|
2 |
10531490 |
19/09/2014 |
1,302,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
FLOOR 21, CENTRE ONE BUILDING, WORLD TRADE CENTRE, CUFFE PARADE,
MUMBAI- 400005, MAHARASHTRA, INDIA |
C33731290 |
|
3 |
10512430 |
09/07/2014 |
400,000,000.00 |
YES BANK LIMITED |
NEHRU CENTRE, 9TH FLOOR, DISCOVERY OF INDIA, DR. A.B. ROAD,
WORLI, MUMBAI, MUMBAI- 400018, MAHARASHTRA, INDIA |
C14750863 |
|
4 |
10417459 |
01/03/2013 |
250,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI- 400013,
MAHARASHTRA, INDIA |
B72492911 |
|
5 |
10394865 |
26/12/2013 * |
140,000,000.00 |
DBS BANK LIMITED |
4A, NANDALAL BASU SARANI, KOLKATA- |
B93755064 |
|
6 |
10338976 |
17/02/2012 |
150,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. |
B33595554 |
|
7 |
10316829 |
18/10/2011 |
475,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B24992216 |
|
8 |
10310913 |
21/11/2012 * |
250,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT
ROAD, WORLI, MUMBAI- |
B63823991 |
|
9 |
10315163 |
09/09/2011 |
688,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW G |
B24345076 |
|
10 |
10307705 |
27/07/2011 |
1,380,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW G |
B21191143 |
* Date of charge modification
STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30th
JUNE, 2015
(Rs. Million)
|
Particulars |
Quarter ended Unaudited |
|
30.06.2015 |
|
|
1. Income from
operations |
|
|
a) Net Sales / Income from operations (net of excise duty) |
773.900 |
|
b) Other operating Income |
31.500 |
|
Total Income from operations (net) |
805.400 |
|
2. Income from Investments (refer note 3) |
29.100 |
|
3. Net sales/Income from Operations and
Investments |
834.500 |
|
4. Expenses |
|
|
485.700 |
|
0.000 |
|
(3.300) |
|
50.600 |
|
78.200 |
|
44.700 |
|
86.600 |
|
Total Expenses |
742.500 |
|
5. Profit from operations & Investments before
other Income, Finance costs and Exceptional items |
92.000 |
|
6. Other Income |
2.600 |
|
7. Profit from ordinary activities before
Finance Costs and Exceptional Items |
94.600 |
|
8. Finance
costs |
27.100 |
|
9. Profit from Ordinary Activities after
Finance Costs but before Exceptional items & Tax |
67.500 |
|
10. Exceptional item |
0.000 |
|
11. Net profit from ordinary activities before
tax |
67.500 |
|
12. Tax Expenses |
9.300 |
|
13. Net Profit from Ordinary Activities after tax |
58.200 |
|
14. Extraordinary
items (net of tax expense) |
0.000 |
|
15. Net Profit for the period |
58.200 |
|
16 Paid up Equity Share Capital (Rs 5/- per
Share) 16. Rs. |
2185 |
|
17. Reserves (excluding Revaluation Reserve) |
0.000 |
|
18. Earnings per Shares (Rs.) - Basic &
Diluted |
1.33 |
|
|
|
|
A. PARTICULARS OF SHAREHOLDING |
|
|
1.
Public shareholding * |
|
|
- Number of shares |
11174309 |
|
- Percentage of shareholding |
25.57% |
|
2. Promoters and
promoter group Shareholdings |
|
|
a) Pledged / Encumbered |
|
|
- Number of shares |
NIL |
|
- Percentage of shares (as a percentage of the total shareholding of promoter and
promoter group) |
NIL |
|
- Percentage of shares (as a percentage of the total share capital of the
company) |
NIL |
|
b) Non-Encumbered |
|
|
- Number of shares |
32519024 |
|
- Percentage of shares (as a percentage of the total shareholding of promoter and
promoter group) |
100.00 |
|
- Percentage of shares (as a percentage of the total share capital of the
company) |
74.43 |
INVESTOR COMPLAINTS
|
PARTICULARS |
|
|
Pending at the beginning of the quarter |
Nil |
|
Received during the quarter |
Nil |
|
disposed off during the quarter |
Nil |
|
Remaining unresolved at the end of the quarter |
Nil |
SEGMENT WISE REVENUE RESULTS AND CAPITAL EMPLOYED
|
Particulars |
Quarter Ended 30.06.2015 |
|
|
|
|
Segment revenue (net of excise) |
|
|
Alco Chemicals |
772.000 |
|
Solar Power |
33.400 |
|
Net Sales |
805.400 |
|
Segment Results (Profit before tax and finance costs) |
|
|
Alco Chemicals |
73.300 |
|
Solar Power |
14.600 |
|
Total |
87.900 |
|
Less: |
|
|
Finance Costs |
27.100 |
|
Exceptional Items |
0.000 |
|
Other un-allocable expenditure net off un-allocable income |
(6.700) |
|
Profit /(Loss) before tax |
67.500 |
|
|
|
|
Capital Employed |
|
|
Alco Chemicals |
2224.600 |
|
Solar Power |
677.000 |
|
Un-allocable |
3256.300 |
|
Total |
6157.900 |
Note:
1. The above results have been reviewed by the Audit Committee and subsequently approved by the Board of Directors at its Meeting held on 4th August 2015. The above results have been reviewed by the Statutory Auditors of the Company as per clause 41 of the listing agreement.
2. The figures for the preceding 3 months ended March 31, 2015 are the
balancing figures between audited figures in respect of the full financial year
ended March 31, 2015 and the year to date figures upto the third quarter of
that financial year.
3. Income from Investments represent the income earned on the temporary
investments for deployment in businesses in due course.
4. Tax expenses is net of Rs. 11.500 lakhs being unrecognised MAT credit
pertaining to earlier years.
5. Previous year figures have been regrouped / rearranged. wherever necessary.
FIXED ASSETS
Tangible Assets
- Land and Site Development
- Leasehold Land and Site Development
- Buildings
- Plant and Machinery
- Furniture and Fixture, Office and Laboratory Equipments Etc.
- Vehicles And Fork Lifts
- Railway Siding and Weigh Bridge
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,
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.65.02 |
|
|
1 |
Rs.99.88 |
|
Euro |
1 |
Rs.73.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
57 |
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.