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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

490402

Report Date :

06.02.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

GRAPHITE INDIA LIMITED (w.e.f. 2002)

 

 

Formerly Known As :

CARBON EVERFLOW LIMITED

 

 

Registered Office :

31, Chowringhee Road, Kolkata-700016, West Bengal

Tel. No.:

91-33-22265755 / 4942, 40029600

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

02.05.1974

 

 

Com. Reg. No.:

21-094602

 

 

Capital Investment / Paid-up Capital :

INR 390.800 Million

 

 

CIN No.:

[Company Identification No.]

L10101WB1974PLC094602

 

 

IEC No.:

0388028947

 

 

TIN No.:

27930000164

 

 

GSTIN :

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Divulged

 

 

PAN No.:

[Permanent Account No.]

AAACC0457C

 

 

Legal Form :

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

 

 

Line of Business :

Subject is mainly engaged in the business of manufacturing and selling of graphite and carbon and other products as detailed under.

 

a) Graphite and Carbon Segment, engaged in the production of Graphite Electrodes, Other Miscellaneous Graphite and Carbon Products and related Processing/Service Charges.

 

b) Glass Reinforced Plastic (GRP) Pipes Segment, engaged in manufacturing/laying of GRP Pipes, and

 

c) Others Segment engaged in manufacturing of High Speed Steel and Alloy Steel and Power Generating Unit exclusively for outside sale and investing in shares and securities  (Registered Activity)

 

 

No. of Employees :

2026 (Approximately)

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A+

 

Credit Rating

Explanation

Rating Comments

A+

Low Risk

Business dealings permissible with low risk of default

 

Status :

Excellent

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist

 

 

Comments :

Subject was incorporated in the year 1974. It is engaged in the business of manufacturing and exporting of graphite electrodes, other miscellaneous carbon and graphite products, high speed steel and alloy steel, glass reinforced pipes (GRP) and power generating unit.

 

For the financial year 2017, the company has reported a decline in its revenue as compared to the previous year but has managed to maintained fair net profit margin of 8.60%.

 

The company possesses sound financial profile marked by efficient net worth base along with favourable gap between trade payables and receivables.

 

The company has its share price trading at around INR 651.50 on BSE as on February 5, 2018 as against the Face Value (FV) of INR 2.

 

Trade relations are fair. Business is active. Payment seems to be regular.

 

In view of aforesaid, 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

 

Country Name

Previous Rating

(30.06.2017)

Current Rating

(30.09.2017)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

ICRA

Rating

Fund Based Facilities (AA+)

Rating Explanation

High degree of safety and very low credit risk

Date

17.03.2017

 

Rating Agency Name

ICRA

Rating

Short Term Loans (A1+)

Rating Explanation

Very strong degree of safety and carry lowest credit risk

Date

17.03.2017

 

 

 

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 31-03-2016.

 

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

 

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 06.02.2018

 

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

 

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

 

INFORMATION DECLINED

 

Management non-cooperative (Tel No.: 91-33-22265755)

 

LOCATIONS

 

Registered Office/ Corporate Office :

31, Chowringhee Road, Kolkata 700 016, West Bengal, India

Tel. No.:

91-33-22265755 / 4942, 40029600

Fax No.:

91-33-22496420

E-Mail :

corp_secy@graphiteindia.com

Website :

http://www.graphiteindia.com

 

 

Regional Office 1 :

Bakhtawar, 2nd Floor Nariman Point, Mumbai - 400021, Maharashtra, India

Tel. No.:

91-22-22886418 - 21 

Fax No.:

91-22-22028833

E-Mail :

gilbakt@graphiteindia.com

 

 

Regional Office 2 :

Flat No. 407, Ashoka Estate, 24 Barakhamba Road, New Delhi - 110001, India

Tel. No.:

91-11-23314364 /65/23351257

Fax No.:

91-11-23721643

E-Mail :

delhisales@graphiteindia.com

 

 

Factory 1 :

P.O. Sagarbhanga Colony, District Burdwan, Durgapur- 713211, West Bengal, India

Tel. No.:

91-343-2556642 - 45/2557743 

Fax No.:

91-343-2550896

E-Mail :

general_dgp@graphiteindia.com

 

 

Factory 2/ R & D Centre :

Visveswaraya Industrial Area, White Field Road, Bangalore-560048, Karnataka, India

Tel. No.:

91-80-43473300 

Fax No.:

91-80-43473372

E-Mail :

blrgen@graphiteindia.com

 

 

Factory 3 :

GE Division, 88 MIDC, Industrial Area, Satpur, Nasik-422007, Maharashtra, India

Tel. No.:

91-253-2203300 / 2203328 / 2361472 / 2351143 

Fax No.:

91-253-2350676

E-Mail :

satpur@graphiteindia.com

 

 

Factory 4 :

C-7, MIDC Industrial Area, Ambad, Nasik – 422010, Maharashtra, India

Tel. No.:

91-253-2302100 

Fax No.:

91-253-2302300

E-Mail :

mktgamd@graphiteindia.com

 

 

Factory 5 :

GRP Division, Gut No. 523/524, Village Gonde, Taluka Igatpuri, District Nashik - 422403, Maharashtra, India

Tel. No.:

91-2553-229400 

Fax No.:

91-2553-229500

E-Mail :

gilgonde@graphiteindia.com

 

 

Factory 6 :

Coke Division, Village: Phulwaria P.O. & District: Barauni – 851112 Bihar, India

Tel. No.:

91-6279-232844 

Fax No.:

91-6279-232699

E-Mail :

graphitebarauni@graphiteindia.com

 

 

Factory 7 :

Powmex Steel Division, Turla P.O.-Jagua, P.S.-Titilagarh, District Bolangir- 767066, Odisha, India

Tel. No.:

91-6655-220504 – 07 

Fax No.:

91-6655-220335 / 220362

E-Mail :

powmexsteel@bsnl.in

 

 

Hydel Power Plants 1 :

K.R. Nagar Taluk, District Mysore - 571617, Karnataka, India 

Tel. No.:

91-8223-281116 / 7 - 221400 

E-Mail :

blrgen@graphiteindia.com

 

 

Hydel Power Plants 2 :

Link Canal Mini Hydel Plant Peehalli, Arekere Hobli, Srirangapatna Taluk, District Mandya- 571415, Karnataka, India

Tel. No.:

91-8236-258079/ 89

E-Mail :

blrgen@graphiteindia.com

 

 

Sales Office

407 Ashoka Estate, 24, Barakhamba Road, New Delhi - 110001, India

Tel. No.:

91-11-23314364

 

 

DIRECTORS

 

As on: 31.03.2017

 

Name :

Mr. Makarand Bhalchandra Gadgil

Designation :

Whole-Time Director

Address :

1, Burdwan Court, 7, Burdwan Road, Alipore, Kolkata - 700027, West Bengal, India

Date of Appointment :

01.07.2009

DIN No.:

01020055

 

 

Name :

Mr. Pradip Kumar Khaitan

Designation :

Director

Address :

B-103, Rai Enclave, 7/1A, Sunny Park, Kolkata - 700019, West Bengal, India

Date of Appointment :

08.06.2002

DIN No.:

00004821

 

 

Name :

Mr. Nandan Damani

Designation :

Director

Address :

Damani House, 11, Cuffe, Parade, Colaba, Mumbai-400005, Maharashtra, India

Date of Appointment :

22.02.1193

DIN No.:

00058396

 

 

Name :

Mr. Raghavachari Srinivasan

Designation :

Director

Address :

C-6-1, Lloyds Garden, Appa Saheb Marathe Marg, Prabhadevi, Mumbai - 400025, Maharashtra, India

Date of Appointment :

12.10.1993

DIN No.:

00003968

 

 

Name :

Mr. Aditya Vikram Lodha

Designation :

Director

Address :

32, Cairnhill Road, # I7-02, Singapore - 229657, Singapore

Date of Appointment :

29.12.1992

DIN No.:

00036158

 

 

Name :

Nayakankuppam Venkataramani

Designation :

Director

Address :

N48/O68, B-4 Amarvaatee, Gandhi Nagar, 2nd Main Road, Adyar, Chennai - 600020, Tamilnadu, India

Date of Appointment :

01.07.2009

DIN No.:

00367193

 

 

Name :

Mr. Krishna Kumar Bangur

Designation :

Director

Address :

5 Hullet Road, # 18-11, Singapore - 229161, Singapore

Date of Appointment :

04.07.1988

DIN No.:

00029427

 

 

Name :

Mr. Jemi Dorabji Curravala

Designation :

Director

Address :

Flat No.5/6, Godrej Baug, Building 'H', Nepean Sea Road, Mumbai - 400026, Maharashtra, India

Date of Appointment :

01.07.2009

DIN No.:

00277426

 

 

Name :

Mrs. Shalini Kalsi Kamath

Designation :

Director

Address :

A-1203/1204, Chaitanya Towers, Appasaheb Marathe, Marg, Prabhadevi, Mumbai - 400025, Maharashtra, India

Date of Appointment :

18.11.2015

DIN No.:

06993314

 

 

Name :

Mr. Gaurav Swarup

Designation :

Director

Address :

White House Gardens, 17a, Alipore Road, Kolkata - 700027, West Bengal, India

Date of Appointment :

25.08.2014

DIN No.:

00374298

 

 

KEY EXECUTIVES

 

Name :

Mr. Makarand Bhalchandra Gadgil

Designation :

Chief Executive Officer

Address :

1, Burdwan Court, 7, Burdwan Road, Alipore, Kolkata - 700027, West Bengal, India

Date of Appointment :

01.07.2009

PAN No.:

AEBPG1755M

 

 

Name :

Mr. Shiva Balan

Designation :

Company Secretary

Address :

A-3/102, Gangotri Sadan Link Road, Bangur Nagar, Goregaon (West), Mumbai-400090, Maharashtra, India

Date of Appointment :

26.07.1993

PAN No.:

ACAPB6396E

 

 

Name :

Mr. Sanjay Wamanrao Parnerkar

Designation :

Chief Financial Officer

Address :

35, Kusum Apartment 11, Gurusaday Road, Kolkata-700019, West Bengal, India  

Date of Appointment :

01.06.2015

PAN No.:

ACLPP9113A

 

 

Name :

Mr. Santosh

Designation :

Accounts Department

 

 

Name :

Mr. B Shiva

Designation :

Company Secretary

 

 

MAJOR SHAREHOLDERS

 

As on 31.12.2017

 

Category of shareholder

No. of fully paid up equity shares held

Shareholding as a % of total no. of shares (calculated as per SCRR, 1957)As a %

(A) Promoter & Promoter Group

127417983

65.22

(B) Public

67957611

34.78

Grand Total

195375594

100.00

 

 

Statement showing shareholding pattern of the Promoter and Promoter Group

 

Category of shareholder

No. of fully paid up equity shares held

Shareholding as a % of total no. of shares (calculated as per SCRR, 1957)As a %

A1) Indian

Individuals/Hindu undivided Family

725022

0.37

MANJUSHREE BANGUR

248391

0.13

KRISHNA KUMAR BANGUR (FAMILY WELFARE TRUST)

199505

0.10

DIVYA BANGUR

169333

0.09

RUKMANI DEVI BANGUR

55288

0.03

KRISHNA KUMAR BANGUR (HUF)

50500

0.03

KRISHNA KUMAR BANGUR

830

0.00

MANJUSHREE BANGUR

670

0.00

KRISHNA KUMAR BANGUR

335

0.00

KRISHNA KUMAR BANGUR

170

0.00

Any Other (specify)

124850314

63.90

EMERALD COMPANY PRIVATE LIMITED

119579419

61.20

GKW LIMITED

4000000

2.05

SHREE LAXMI AGENTS LIMITED

884000

0.45

CARBO CERAMICS LIMITED

386645

0.20

THE BOND COMPANY LIMITED

250

0.00

Sub Total A1

125575336

64.27

A2) Foreign

0.00

Individuals (NonResident Individuals/ Foreign Individuals)

1842647

0.94

KRISHNA KUMAR BANGUR

1656386

0.85

APARNA DAGA

186261

0.10

Sub Total A2

1842647

0.94

A=A1+A2

127417983

65.22

 


Statement showing shareholding pattern of the Public shareholder

 

Category & Name of the Shareholders

No. of fully paid up equity shares held

Shareholding % calculated as per SCRR, 1957 As a %

B1) Institutions

 

 

Mutual Funds/

11068090

5.67

L&T Mutual Fund Trustee Limited (Various Schemes)

7008222

3.59

SBI Magnum Balanced Fund

2408607

1.23

Alternate Investment Funds

36300

0.02

Foreign Portfolio Investors

11534523

5.90

Financial Institutions/ Banks

138264

0.07

Insurance Companies

5973485

3.06

Sub Total B1

28750662

14.72

B2) Central Government/ State Government(s)/ President of India

0

0.00

B3) Non-Institutions

0

0.00

Individual share capital upto INR 0.200 million

19015895

9.73

Individual share capital in excess of INR 0.200 million

1309689

0.67

Any Other (specify)

18881365

9.66

Trusts

34745

0.02

Foreign Individuals

14955

0.01

HUF

814805

0.42

NRI – Non- Repat

179547

0.09

Director or Director's Relatives

14083

0.01

NRI – Repat

1758895

0.90

Foreign Portfolio Investors (Category III)

6000

0.00

Clearing Members

824325

0.42

Bodies Corporate

14311952

7.33

GLOBAL IVY VENTURES LLP

2553260

1.31

MCA (IEPF)

922058

0.47

Sub Total B3

39206949

20.07

B=B1+B2+B3

67957611

34.78

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is mainly engaged in the business of manufacturing and selling of graphite and carbon and other products as detailed under.

 

a) Graphite and Carbon Segment, engaged in the production of Graphite Electrodes, Other Miscellaneous Graphite and Carbon Products and related Processing/Service Charges.

 

b) Glass Reinforced Plastic (GRP) Pipes Segment, engaged in manufacturing/laying of GRP Pipes, and

 

c) Others Segment engaged in manufacturing of High Speed Steel and Alloy Steel and Power Generating Unit exclusively for outside sale and investing in shares and securities  (Registered Activity)

 

 

Products / Services :

NIC Code No.

Products/Services Description

3297

Graphite Electrodes and Miscellaneous Graphite Products

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

 

GENERAL INFORMATION

 

Suppliers :

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

2026 (Approximately)

 

 

Bankers :

·         Bank of India

·         Canara Bank

·         Citibank N.A.

·         Corporation Bank

·         HDFC Bank Limited

·         ICICI Bank Limited

·         IDBI Bank Limited

·         Kotak Mahindra Bank Limited

·         State Bank of India

·         UCO Bank, FCC India Exchange Place Branch 2, India Exchange Place Kolkata -700001, West Bengal, India

 

 

Facilities :

Secured Loan

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Short-term borrowings

 

 

Loans Repayable on Demand from Banks*

 

 

Bill Discounting Facilities

17.300

66.800

-Cash Credit/Export Credit Facilities

266.800

677.700

Total

284.100

744.500

*Secured –

(a) By a First pari passu charge by way of hypothecation of the Company’s entire current assets (for Company’s Powmex Steel Division situated at Titilagarh effective March 2017), namely, stocks of raw materials, such as Calcined Petroleum Coke, Pitch, Extrusion Oil etc., semi-Finished and Finished goods and articles such as, Graphite Electrodes, Anodes, Misc. Graphite Products etc., stores and spares not relating to plant and machinery (consumable stores and spares), Bills receivable and Book debts and all other movable of the Company both present and future but excluding such movables as may be permitted by the said Banks from time to time ;

 

(b) By a second pari passu charge on the Company’s movable Fixed assets (for Company’s Powmex Steel Division situated at Titilagarh effective March 2017) including movable plant and machinery, machinery spares, tools and accessories, electrical and other equipments etc., (save and except the current assets which are already hypothecated/to be hypothecated in favour of the said Banks as and by way of First charge) lying and/or stored and/or situated at the Company’s different units, godowns/factories and/or premises or in the possession of any third party or in course of transit or delivery and also all documents of title, negotiable instruments, policies of insurance and other documents and instruments relating thereto subject and/or sub-servient to the First and/or the prior charge holders for securing their respective Term Loans and/or facilities.

 

Auditors :

 

Name :

Price Waterhouse

Chartered Accountants

Address :

Plot No. Y 14, Block EP, Sector V, Salt V, Salt Lake Electronic Complex, Bidhan Nagar, Kolkata – 700091, West Bengal, India

Tel. No.:

91-33-44001111/ 44662000

Fax No.:

91-33-44043065

 

 

Solicitors :

Khaitan and Company

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Immediate and Ultimate Parent Company :

Emerald Company Limited (ECL) #

 

 

Wholly Owned Subsidiary Company

·         Carbon Finance Limited #

·         Graphite International B.V. (GIBV) ##

 

 

Wholly Owned Subsidiary Company of GIBV :

·         Bavaria Carbon Holdings GmbH @

·         Bavaria Carbon Specialities GmbH @

·         Bavaria Electrodes GmbH @

·         Graphite Cova GmbH @

 

 

Fellow Subsidiary :

Shree Laxmi Agents Limited

 

 

Associate of ECL :

Carbo Ceramics Limited

 

 

Entities under significant influence of UCP :

GKW Limited

 

 

Post-employment Benefit Plans (PEBP) :

·         Graphite India Limited Employees’ Gratuity Fund

·         Graphite Vicarb India Limited Employees’ Gratuity Fund

·         Graphite India Limited (PSD) Employees’ Gratuity Fund

·         Graphite India Employees Group Gratuity Scheme

·         Graphite India Limited Senior Staff Superannuation Fund

·         Graphite India Employees Group Superannuation Scheme

·         Graphite India Limited Provident Fund

·         GIL Officers Provident Fund

 

 

# Principal place of business - India

## Principal place of business - The Netherlands

@ Principal place of business - Germany

 

 

CAPITAL STRUCTURE

 

As on 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

200000000

Equity Shares @

INR 2/- each

INR 400.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

195375594

Equity Shares @

INR 2/- each

INR 390.800 Million

 

 

 

 

 

@ There were no changes in number of shares during the years ended 31st March, 2017 and 31st March, 2016.

* Amounts are below the rounding off norm adopted by the Company.

 

(a) The Company has one class of Equity Shares having a par value of INR 2/- per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company, after distribution of all preferential amounts in proportion to their shareholding.

 

(b) Details of Equity Shares held by the holding

 

company and by subsidiary/associate of the holding company:

As on 31.03.2017

Number of Shares

Emerald Company Limited (ECL); the Immediate and Ultimate Holding Company

119579419

Shree Laxmi Agents Limited; a Subsidiary of ECL

884000

Carbo Ceramics Limited; an Associate of ECL

386645

 

(c) Details of Equity Shares held by Shareholders

 

holding more than 5% of the aggregate shares in the Company:

As on 31.03.2017

Number of Shares

%

Emerald Company Limited

119579419

61.20%

 

 

FINANCIAL DATA

[all figures are INR Million]

 

ABRIDGED BALANCE SHEET (STANDALONE)

 

SOURCES OF FUNDS

31.03.2017

31.03.2016

31.03.2015

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

390.800

390.800

390.768

(b) Reserves & Surplus

18127.800

17022.500

17145.294

(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)

18518.600

17413.300

17536.062

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

417.200

(b) Deferred tax liabilities (Net)

840.300

881.600

821.168

(c) Other long term liabilities

0.200

0.100

0.070

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

840.500

881.700

1238.438

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

1268.200

1799.200

1439.904

(b) Trade payables

2126.200

1594.100

1868.125

(c) Other current liabilities

855.300

1257.800

1365.444

(d) Short-term provisions

220.800

169.600

1027.041

Total Current Liabilities (4)

4470.500

4820.700

5700.514

 

 

 

 

TOTAL

23829.600

23115.700

24475.014

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

6155.200

5393.600

5891.277

(ii) Intangible Assets

10.900

15.200

16.900

(iii) Capital work-in-progress

320.600

654.900

95.860

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

984.900

1075.800

2130.567

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

83.200

80.100

205.808

(e) Other Non-current assets

91.900

78.200

1.226

Total Non-Current Assets

7646.700

7297.800

8341.638

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

5654.300

4297.700

2670.056

(b) Inventories

5126.300

6320.200

8549.869

(c) Trade receivables

4068.100

4316.000

3878.837

(d) Cash and cash equivalents

410.600

57.700

113.404

(e) Short-term loans and advances

32.900

26.300

758.318

(f) Other current assets

890.700

800.000

162.892

Total Current Assets

16182.900

15817.900

16133.376

 

 

 

 

TOTAL

23829.600

23115.700

24475.014

 

 

PROFIT & LOSS ACCOUNT (STANDALONE)

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

13057.700

13466.800

14972.188

 

Other Income

838.900

465.000

307.402

 

TOTAL

13896.600

13931.800

15279.590

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

5173.200

4599.100

6940.044

 

Purchases of Stock-in-Trade

0.000

9.000

0.000

 

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

200.900

1280.800

(196.980)

 

Employees benefits expense

1520.400

1353.100

1384.670

 

Other expenses

5407.200

4722.200

5291.696

 

Exceptional Items

0.000

0.000

56.000

 

TOTAL

12301.700

11964.200

13475.430

 

 

 

 

 

 

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

1594.900

1967.600

1804.160

 

 

 

 

 

Less

FINANCIAL EXPENSES

65.000

78.400

122.263

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

1529.900

1889.200

1681.897

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

415.600

444.200

387.462

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

1114.300

1445.000

1294.435

 

 

 

 

 

Less

TAX

(8.500)

398.600

472.500

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

1122.800

1046.400

821.935

 

 

 

 

 

 

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

1585.700

2235.300

1988.843

 

 

 

 

 

 

APPROPRIATIONS

 

 

 

 

Transfer to General Reserve

0.000

750.000

0.000

 

Dividend Distribution Tax on Above

0.000

79.500

0.000

 

Interim Dividend on Equity Shares

0.000

390.800

0.000

 

Dividend Distribution Tax

0.000

79.500

0.000

 

Final Dividend on Equity Shares

0.000

390.800

0.000

 

Remeasurements on Post-employment Defined Benefit Plans, Net of Tax

17.500

5.400

0.000

 

Proposed Dividend on Equity Shares

0.000

0.000

390.751

 

Dividend Distribution Tax on Proposed Dividend

0.000

0.000

79.547

 

Total

17.500

1696.000

470.298

 

 

 

 

 

 

Balance Carried to the B/S

2691.000

1585.700

2340.480

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

 NA

NA 

6973.034

 

TOTAL EARNINGS

 NA

NA 

6973.034

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

 NA

NA 

 3411.934

 

Components and Stores parts

 NA

NA 

 54.136

 

Capital Goods

 NA

NA 

 4.120

 

TOTAL IMPORTS

 NA

NA 

3470.190

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

5.75

5.36

4.21

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

0.000

0.000

625.800

Cash generated from operations

2901.800

3349.400

2238.716

Net cash flows from (used in) operations

2501.600

2849.100

1738.152

 

 

QUARTERLY RESULTS

 

Particulars

 

30.06.2017

 (Unaudited)

30.09.2017

 (Unaudited)

31.12.2017

 (Unaudited)

 

1st  Quarter

2nd Quarter

3rd Quarter

Net Sales

3762.500

4619.000

9330.600

Total Expenditure

3407.400

3319.800

4145.100

PBIDT (Excl OI)

355.100

1299.200

5185.500

Other Income

211.300

192.400

114.800

Operating Profit

566.400

1491.600

5300.300

Interest

9.500

15.300

17.100

Exceptional Items

NA

NA

NA

PBDT

556.900

1476.300

5283.200

Depreciation

120.400

120.000

112.800

Profit Before Tax

436.500

1356.300

5170.400

Tax

142.000

457.000

1765.100

Provisions and contingencies

NA

NA

NA

Profit After Tax

294.500

899.300

3405.300

Extraordinary Items

NA

NA

NA

Prior Period Expenses

NA

NA

NA

Other Adjustments

NA

NA

NA

Net Profit

294.500

899.300

3405.300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

113.72

116.98

94.56

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

3.21

3.12

3.86

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

150.02

126.27

98.25

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.31

0.31

0.21

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.25

0.32

0.30

 

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.19

0.21

0.28

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.07

0.10

0.14

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

0.24

0.28

0.33

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.35

0.35

0.34

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

24.54

25.10

14.76

 

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

8.60

7.77

5.49

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

4.71

4.53

3.36

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

6.06

6.01

4.69

 

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

3.62

3.28

2.83

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

2.47

1.97

1.33

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.78

0.75

0.72

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

3.25

4.60

6.35

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

3.62

3.28

2.83

 

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

STOCK PRICES

 

Face Value

INR 2.00/-

Market Value

INR 651.50/-

 

FINANCIAL ANALYSIS

[all figures are in INR Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Share Capital

390.768

390.800

390.800

Reserves & Surplus

17145.294

17022.500

18127.800

Net worth

17536.062

17413.300

18518.600

 

 

 

 

long-term borrowings

417.200

0.000

0.000

Short term borrowings

1439.904

1799.200

1268.200

Current maturities of long-term debts

625.800

0.000

0.000

Total borrowings

2482.904

1799.200

1268.200

Debt/Equity ratio

0.142

0.103

0.068

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Sales

14972.188

13466.800

13057.700

 

 

(10.055)

(3.038)

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Sales

14972.188

13466.800

13057.700

Profit

821.935

1046.400

1122.800

 

5.49%

7.77%

8.60%

 

 

 

ABRIDGED BALANCE SHEET (CONSOLIDATED)

 

SOURCES OF FUNDS

 

31.03.2017

31.03.2016

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

390.800

390.800

(b) Reserves & Surplus

 

18184.800

17489.000

(c) Money received against share warrants

 

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

 

0.000

0.000

Total Shareholders’ Funds (1) + (2)

 

18575.600

17879.800

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

0.000

0.000

(b) Deferred tax liabilities (Net)

 

850.100

882.800

(c) Other long term liabilities

 

0.200

0.100

(d) long-term provisions

 

28.500

31.500

Total Non-current Liabilities (3)

 

878.800

914.400

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

2592.300

3023.400

(b) Trade payables

 

2184.000

1724.200

(c) Other current liabilities

 

983.500

1377.700

(d) Short-term provisions

 

220.800

169.600

Total Current Liabilities (4)

 

5980.600

6294.900

 

 

 

 

TOTAL

 

25435.000

25089.100

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

6655.400

5887.800

(ii) Intangible Assets

 

18.500

24.200

(iii) Capital work-in-progress

 

320.600

654.900

(iv) Intangible assets under development

 

0.000

0.000

(b) Non-current Investments

 

655.800

453.600

(c) Deferred tax assets (net)

 

29.300

19.400

(d)  Long-term Loan and Advances

 

83.200

80.100

(e) Other Non-current assets

 

135.100

133.400

Total Non-Current Assets

 

7897.900

7253.400

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

5654.300

4297.700

(b) Inventories

 

6020.900

7485.100

(c) Trade receivables

 

4414.600

4742.400

(d) Cash and cash equivalents

 

515.400

210.500

(e) Short-term loans and advances

 

32.900

276.400

(f) Other current assets

 

899.000

823.600

Total Current Assets

 

17537.100

17835.700

 

 

 

 

TOTAL

 

25435.000

25089.100

 

 

PROFIT & LOSS ACCOUNT (CONSOLIDATED)

 

 

PARTICULARS

 

31.03.2017

31.03.2016

 

SALES

 

 

 

 

Income

 

14677.600

15322.700

 

Other Income

 

864.800

494.400

 

TOTAL

 

15542.400

15817.100

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

 

5524.100

5067.700

 

Purchases of Stock-in-Trade

 

0.000

9.000

 

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

 

326.600

1384.500

 

Employees benefits expense

 

2225.400

2011.600

 

Other expenses

 

6206.000

5504.000

 

TOTAL

 

14282.100

13976.800

 

 

 

 

 

 

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

 

1260.300

1840.300

 

 

 

 

 

Less

FINANCIAL EXPENSES

 

78.900

94.600

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

1181.400

1745.700

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

 

463.900

492.000

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

 

717.500

1253.700

 

 

 

 

 

Less

TAX

 

12.900

425.500

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

 

704.600

828.200

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

 

3.61

4.24

 

 

 

 

LEGAL CASES

 

HIGH COURT OF CALCUTTA - ORIGINAL SIDE

 

CASE STATUS INFORMATION SYSTEM

 

Case Status :

Pending

Status Of :

INCOME TAX APPEAL TENDERED  221  Of  2017

Litigants :

PRINCIPAL COMM OF INCOME TAX, CENTRAL 4, Vs.  GRAPHITE INDIA LIMITED

Pet's Adv :

YOGESH VATS

Res's Adv :

Last Date of Hearing :

---

Next / Final Date of Hearing :

---

Case Updated On :

Friday, June 09, 2017

Category :

INCOME TAX : REVENUE

Connected Application(s)

No Connected Application

Connected Matter(s)

No Connected Cases

 

 

HIGH COURT OF CALCUTTA - ORIGINAL SIDE

 

CASE STATUS INFORMATION SYSTEM

 

Case Status :

Pending

Status Of :

INCOME TAX APPEAL TENDERED  234  Of  2017

Litigants :

PRINCIPAL COMM OF INCOME TAX, CENTRAL - Vs.  GRAPHITE INDIA LIMITED

Pet's Adv :

YOGSH VATS

Res's Adv :

Last Date of Hearing :

---

Next / Final Date of Hearing :

---

Case Updated On :

Wednesday, June 28, 2017

Category :

INCOME TAX : REVENUE

 

 

Connected Application(s)

GA

2071

2017

GA

2072

2017

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check List by Info Agents

Available in Report (Yes / No)

1]

Year of establishment

Yes

2]

Constitution of the entity Incorporation details

Yes

3]

Locality of the entity

Yes

4]

Premises details

No

5]

Buyer visit details

--

6]

Contact numbers

Yes

7]

Name of the person contacted

No

8]

Designation of contact person

No

9]

Promoter’s background

No

10]

Date of Birth of Proprietor / Partners / Directors

No

11]

Pan Card No. of Proprietor / Partners

No

12]

Voter Id Card No. of Proprietor / Partners

No

13]

Type of business

Yes

14]

Line of Business

Yes

15]

Export/import details (if applicable)

No

16]

No. of employees

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

 

COMPANY BACKGROUND

 

The Company is a public limited company, incorporated and domiciled in India. The equity shares of the Company are listed on the National Stock Exchange of India Limited and the BSE Limited in India. The registered office of the Company is located at 31, Chowringhee Road, Kolkata - 700 016, West Bengal, India. The Company is mainly engaged in the business of manufacturing and selling of graphite and carbon and other products.

 

REVIEW OF OPERATION

 

As per the latest estimates of International Monetary Fund (IMF) issued in August 2016, global economic growth remained moderate in 2016 at 3.1%, which is less than the earlier estimate of 3.4%. There was high degree of uncertainty as a result of political changes which depressed the global economy. The primary factors that shape the global outlook - both in the short and the long term - point to a subdued growth for 2017 and a gradual recovery thereafter but also with downside risks. These forces include major departures such as Brexit; ongoing realignments in China of commodity exporters; continuing slow-growth trends in some of the western economies along with poor productivity growth, as well as geo-political uncertainties and protectionist regulatory measures inhibiting free trade opportunities between the developed and the developing economies.

 

After a lackluster turn out in 2016, economic growth is projected to pick up momentum in 2017 and 2018, especially in the emerging markets and the developing economies. However, there is a wide disparity in the projections of possible outcomes, given the uncertainty surrounding the global economy.

 

With these strictures, the aggregate growth projections for 2017-18 remain unchanged as compared with the October 2016 IMF World Economic Outlook. The outlook for advanced economies has improved for 2017–18, refiecting a spurt in the activity in the second half of 2016, as also triggered by the fiscal and administrative stimulus given in the United States. As a corollary, the growth prospects have marginally diminished for emerging / developing economies, where financial conditions have correspondingly tightened. Nearterm growth prospects were revised upwards for China, due to expected policy stimulus, but were revised downwards for a number of other large economies - notably India, Brazil, and Mexico.

 

The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation, Government of India, has estimated that Indian economy is likely to grow at 7.1% in 2016-17, compared to the growth of 7.6% achieved in 2015-16. The growth in agriculture, industry and services is estimated at 4.1%, 5.2% and 8.8% respectively in 2016-17 as compared to 1.2%, 7.4% and 8.9% respectively in 2015-16. Growth rate of industry sector declined in 2016-17 mainly on account of contraction in mining and quarrying and moderation of growth in manufacturing sector. The improvement in India’s economic fundamentals accelerated in the year 2015 with the combined impact of strong government reforms, Reserve Bank of India’s (RBI) inflation focus supported by benign global commodity prices. Moody’s has affirmed the Government of India’s Baa3 rating with a positive outlook stating that the reforms by the government will enable the country to perform better compared to its peers over the medium term. According to IMF World Economic Outlook Update (January 2017), Indian economy is expected to grow at 7.2% during FY 2016-17 and further accelerate to 7.7% during FY 2017-18. Demonetisation is expected to have a positive impact on the Indian economy, which will help foster a clean and digitised economy in the long run. India is expected to be the third largest consumer economy as its consumption may triple to USD 4 trillion by 2025, owing to shift in consumer behaviour and expenditure pattern.

 

MANAGEMENT DISCUSSION AND ANALYSIS

 

Graphite and Carbon Segment

 

Graphite Electrodes

 

Graphite Electrode is used in electric arc furnace based steel mills for conducting current that melts scrap iron and steel and is a consumable item for the steel industry. The principal manufacturers are based in USA, Europe, India, China, Malaysia and Japan.

 

Graphite Electrode demand is primarily linked with the global production of steel in electric arc furnaces. Between the two basic methods for steel production - (1) Blast Furnace (BF); and (2) Electric Arc Furnace (EAF) – the share of EAF route to steel production is estimated at about 26% at the global level. This is expected to grow further in years to come due to its inherent favourable characteristics of (a) an environment friendly and less polluting production process; (b) low capital cost; and (c) faster project (commissioning) time. Fresh investments in EAF steel mills are characterised by large furnace capacities requiring large diameter UHP Electrodes. It is expected that the demand for UHP Electrodes too will grow synchronously. These typical industry features coupled with an increasing proportion of EAF steel share in total crude steel production in future should hopefully augment the demand for Graphite Electrodes in the long term.

 

Stagnant demand, intense competition and sliding sales price continued to pose challenges since last 3-4 years. But a turnaround is possible with the recovery in steel demand coupled with consolidation / restructuring in the electrode industry.

 

Calcined Petroleum Coke and Paste

 

The Coke Division in Barauni, Bihar, is engaged in the manufacturing of Calcined Petroleum Coke, Carbon Paste and Electrically Calcined Anthracite Paste and is one of the several backward integration initiatives of the Company. In Calcined Petroleum Coke (CPC), two grades - aluminium and graphite – are produced. It is primarily used for manufacture of anodes for use in aluminium smelters, manufacture of graphite electrodes and also used as carburiser in steel. The division also manufactures four grades of Paste i.e. Electrode Paste based on either CPC or Electrically Calcined Anthracite Coal (ECAC) and Tamping Paste based on either CPC or ECAC. Electrode Paste is used in Ferro Alloy Smelters and Tamping Paste is used as a lining material in submerged arc furnaces.

 

This division could not perform to expectations because of low realization, competition and constraint in getting its basic raw material i.e. Green / Raw Petroleum Coke.

 

Impervious Graphite Equipment

 

The Impervious Graphite Equipment (IGE) Division is engaged in design, manufacture and supply of Impervious Graphite Heat and Mass transfer equipment and Turnkey systems. The product range includes Graphite Heat Exchangers in Shell & tube type and Polyblock type construction, Turnkey systems like HCl Synthesis units and Dry Gas generation units, Absorbers and Absorption systems, Graphite Columns, H2SO4 Dilution and Cooling units, Vacuum Ejector systems, Graphite Bursting Discs and accessories

 

Impervious graphite is an ideal material of construction for corrosive process fluids and finds wide application in industries like Chloro Alkali, Chlorinated Organic Chemicals, Phosphoric Acid, Fertilizers, Steel Pickling, Metal Processing, Polymers like VCM, Polycarbonate and Caprolactam, Drug Intermediates, etc.

 

Over the years the Company has built this product line into a reliable brand with a reputation for prompt service, good quality and consistent performance by investing in strengthening the core competencies. Division’s total sale was higher by about 35% in this financial year. Domestic business is consistently doing good as there are expansions in chloro-alkali, drugs / pharma, agrochemicals and fine chemicals sectors. Domestic order booking in this year increased by about 40% compared to last year. In export market, there are no major expansions and many projects are getting deferred. Competitors have also dropped their prices substantially and most companies prefer to buy locally. However, they continue to be strong in phosphoric acid business. In this year, Company manufactured the biggest phosphoric acid evaporators so far used for this application for an overseas customer.

 

Captive Power

 

Power constitutes one of the major costs of Electrode Production. For captive consumption, the Company has an installed capacity of 31.5 MW of power generation through Hydel route (18 MW) and through multi-fuel route (13.5 MW). Power generation through Hydel Power Plant was 33.75 million units as against 41.00 million units in the previous year. The multi fuel power generating sets remained as a stand-by facility as adequate power was available from the Grid and 6 MW DG set was disposed off during the year.

 

UNSECURED LOAN

 

PARTICULARS

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Short-term borrowings

 

 

Loans Repayable on Demand from Banks

 

 

- Working Capital Facilities (Export Credit, etc.)

796.900

888.100

Foreign Currency Term Loan from a Bank

187.200

166.600

Total

984.100

1054.700

 

 

INDEX OF CHARGES

 

S

No

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Date of Satisfaction

Amount

Address

1

G40076689

90245975

UCO Bank

17/01/2003

06/03/2017

-

6500000000.0

FCC INDIA EXCHANGE PLACE BRANCH 2, INDIA EXCHANGE PLACE KOLKATA -700001, WEST BENGAL, INDIA

2

G04021291

10251642

HDFC BANK LIMITED

22/11/2010

12/09/2014

28/04/2016

920000000.0

BAHRAIN BRANCH, BAHRAIN FINANCIAL HARBOUR 49TH FLOOR, WEST TOWER MANAMANA NA BH

3

G04019691

10251643

HDFC BANK LIMITED

22/11/2010

12/09/2014

28/04/2016

460000000.0

BAHRAIN BRANCH, BAHRAIN FINANCIAL HARBOUR 49TH FLOOR, WEST TOWER MANAMANA NA BH

4

C13874334

80023124

STATE BANK OF INDIA

22/02/2006

21/11/2008

30/07/2014

750000000.0

COMMERCIAL BRANCH, KOLKATA24, PARK STREET KOLKATA WEST BENGAL 700016 INDIA

5

C13872668

10075058

STATE BANK OF INDIA

17/10/2007

-

30/07/2014

100000000.0

COMMERCIAL BRANCH, KOLKATA24, PARK STREET KOLKATA WEST BENGAL 700016 INDIA

6

B92713080

90246678

ICICI BANK LIMITED

27/07/2005

20/08/2012

09/12/2013

290000000.0

LANDMARKRACE COURCE CIRCLE ALKAPURI BARODA GJ 390007 INDIA

7

B90394487

10142953

IDBI BANK LIMITED

19/12/2008

-

27/11/2013

350000000.0

KOLKATA MAIN RANCHIDBI HOUSE, 44 SHAKESPEARE SARANI KOLKATA WEST BENGAL 700017 INDIA

8

B89693956

10286898

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

24/05/2011

-

18/11/2013

350000000.0

HONGKONG HOUSE31 B B D BAG KOLKATA WEST BENGAL 700001 INDIA

9

B91386284

80066906

HDFC BANK LIMITED

14/05/2004

-

18/11/2013

250000000.0

CENTRAL PLAZA2/6, SARAT BOSE ROAD, KOLKATA WEST BENGAL 700020 INDIA

10

B90474982

80066905

HDFC BANK LIMITED

02/04/2003

-

18/11/2013

66680000.0

CENTRAL PLAZA2/6, SARAT BOSE ROAD, KOLKATA WEST BENGAL 700020 INDIA

 

 

STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30.09.2017

 

(INR In million)

Particulars

Quarter ended

Half Year ended

 

30.09.2017

30.06.2017

30.09.2017

 

Unaudited

Unaudited

Unaudited

Income from Operations

 

 

 

Revenue from Operations

4619.000

3762.500

8381.500

Other Income

192.400

211.300

403.700

Total Income from operations (net)

4811.400

3973.800

8785.200

 

 

 

 

Expenses

 

 

 

(a) Cost of Material Consumed

1469.800

1281.800

2751.800

(b) Changes in inventories of finished goods, work in progress and stock in trade

(160.3000)

(42.300)

-202.800

(c) Excise duty

0.000

252.300

252.300

(d) Employee benefit expenses

450.000

411.400

861.400

(e) Consumption of Stores and Spare Parts

346.400

344.200

690.600

(f) Power and Fuel

729.200

709.000

1438.200

(g) Finance costs

15.300

9.500

24.800

(h) Depreciation and amortization expenses

120.000

120.400

240.400

(i) Other Expenses

484.700

451.000

935.700

Total Expenses

3455.100

3537.300

6992.400

Profit/ (Loss) from before Exceptional items

1356.300

436.500

1792.800

Exceptional items

0.000

0.000

0.000

Profit/ (Loss) before tax

1356.300

436.500

1792.800

Tax Expenses

 

 

 

Current Tax

420.000

108.000

528.000

Deferred Tax

37.000

34.000

71.000

Net Profit/ (Loss) for the period

899.300

294.500

1193.800

Other comprehensive income

 

 

 

(i) Items that will not be reclassified to profit or loss

(7.000)

(7.000)

(14.000)

(ii) Income tax relating to items that will not be reclassified to profit or loss

2.400

2.400

4.800

Total Other comprehensive income, net of income tax 

(4.600)

(4.600)

(9.200)

 

 

 

 

Total comprehensive income for the period

894.700

289.900

1184.600

Paid- up Equity Share Capital (share – INR 2)

390.800

390.800

390.800

Other Equity (as per balance sheet of the previous accounting year)

 

 

 

Earnings per share (not annualized for quarter and half years)

 

 

 

Basic

4.60

1.51

6.11

Diluted

4.60

1.51

6.11

 

 

 

STATEMENT OF STANDALONE UNAUDITED ASSETS AND LIABILITIES AS AT 30.09.2017

 

(INR In Million)

SOURCES OF FUNDS

 

 

30.09.2017

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

 

390.800

(b) Reserves & Surplus

 

 

18842.000

(c) Money received against share warrants

 

 

0.000

 

 

 

 

(2) Share Application money pending allotment

 

 

0.000

Total Shareholders’ Funds (1) + (2)

 

 

19232.800

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

 

0.000

(b) Deferred tax liabilities (Net)

 

 

0.000

(c) Other long term liabilities

 

 

911.300

(d) long-term provisions

 

 

0.100

Total Non-current Liabilities (3)

 

 

911.400

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

 

1845.700

(b) Trade payables

 

 

2206.300

(c) Other current liabilities

 

 

1079.400

(d) Short-term provisions

 

 

206.200

Total Current Liabilities (4)

 

 

5337.600

 

 

 

 

TOTAL

 

 

25481.800

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

 

6076.000

(ii) Intangible Assets

 

 

7.600

(iii) Capital work-in-progress

 

 

477.200

(iv) Intangible assets under development

 

 

0.000

(b) Non-current Investments

 

 

995.000

(c) Deferred tax assets (net)

 

 

0.000

(d)  Long-term Loan and Advances

 

 

73.400

(e) Other Non-current assets

 

 

98.500

Total Non-Current Assets

 

 

7727.700

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

 

7506.100

(b) Inventories

 

 

4828.200

(c) Trade receivables

 

 

3651.800

(d) Cash and cash equivalents

 

 

164.300

(e) Short-term loans and advances

 

 

32.200

(f) Other current assets

 

 

1571.500

Total Current Assets

 

 

17754.100

 

 

 

 

TOTAL

 

 

25481.800

 

STANDALONE SEGMENT-WISE REVENUE, RESULTS, ASSETS AND LIABILITIES FOR THE QUARTER AND HALF YEAR ENDED 30.09.2017

 

(INR In million)

Particulars

Quarter ended

Half Year ended

 

30.09.2017

30.06.2017

30.09.2017

 

Unaudited

Unaudited

Unaudited

Segment Revenues

 

 

 

Graphite and Carbon

4395.400

3516.100

7911.500

GRP Pipes

30.100

83.300

113.400

Unallocated

193.900

163.500

357.400

Total

4619.400

3762.900

8382.300

Less: Inter - Segment Revenue

0.400

0.400

0.800

Revenue from operations

4619.000

3762.500

8381.500

 

 

 

 

Segment Results

 

 

 

Graphite and Carbon

1305.300

378.400

1683.700

GRP Pipes

8.800

(4.400)

4.400

Unallocated

(0.200)

(14.500)

-14.700

Total

1313.900

359.500

1673.400

Less:

 

 

 

(i) Finance Costs

15.300

9.500

24.800

 

 

 

 

(ii) Unallocable Expenditure / Income (net)

(57.700)

(86.500)

(144.200)

Total Profit before Tax

1356.300

436.500

1792.800

 

 

 

 

Segment Assets

 

 

 

Graphite and Carbon

15293.800

15319.300

15293.800

GRP Pipes

434.000

369.000

434.000

Others

971.600

986.700

971.600

Total Segment Assets

16699.400

16675.000

16699.400

Un-allocated Assets

8782.400

8164.300

8782.400

Total Assets

25481.800

24839.300

25481.800

 

 

 

 

Segment Liabilities

 

 

 

Graphite and Carbon

3115.600

2955.400

3115.600

GRP Pipes

191.200

180.700

191.200

Others

98.900

171.600

98.900

Total Segment Liabilities

3405.700

3307.700

3405.700

Un-allocated Liabilities

2843.300

2723.400

2843.300

Total Liabilities

6249.000

6031.100

6249.000

 

Notes :

 

1. This Statement has been reviewed by the Audit Committee and approved by the Board at its meeting held on 23rd October, 2017.The Auditors of the Company have carried out a Limited Review of the above financial results for the quarter ended 30th September, 2017 in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. 


2. Figures for the previous periods have been regrouped/rearranged wherever necessary to conform to current period's classification. 

 

3. In accordance with the requirements of Ind As, revenue (as indicated in serial No 1) for the quarter ended 30th September, 2017 is net of goods and services tax (GST), however, revenue for the period upto 30th June, 2017 is inclusive of excise duty (as indicated in serial no 4(C))

 

 

FIXED ASSETS

 

Tangible Assets

·         Freehold Land

·         Leasehold Land

·         Buildings

·         Plant and Equipment

·         Furniture and Fixtures

·         Vehicles

·         Office Equipment

·         Machinery Spares

 

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 records 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 records 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

INR

US Dollar

1

INR 64.03

UK Pound

1

INR 90.40

Euro

1

INR 79.73

 

 

INFORMATION DETAILS

 

Information Gathered by :

KAM

 

Analysis Done by :

NIY

 

 

Report Prepared by :

JYTK

 

 

SCORE FACTORS

 

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

 

 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

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 are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

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.
 
 

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