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MIRA INFORM REPORT
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Report No. : |
491454 |
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Report Date : |
10.02.2018 |
IDENTIFICATION DETAILS
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Name : |
HINDALCO INDUSTRIES LIMITED (w.e.f. 1989) |
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Formerly Known
As : |
HINDUSTAN ALUMINIUM CORPORATION LIMITED |
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Registered
Office : |
Ahura Centre, 82, 1st Floor, B Wing, Mahakali Caves Road, Andheri (East), Mumbai – 400093, Maharashtra |
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Tel. No.: |
91-22-6691 7000 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
15.12.1958 |
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Com. Reg. No.: |
11-011238 |
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Capital Investment
/ Paid-up Capital : |
INR 2227.200 Million |
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CIN No.: [Company Identification
No.] |
L27020MH1958PLC011238 |
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IEC No.: |
0388147237 |
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GSTIN: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMH00493D |
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PAN No.: [Permanent Account No.] |
AAACH1201R |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
The Company has two reportable segments
viz. Aluminium and Copper Description of each of the
reporting segments is as under: i. Aluminium Segment: This part of
business manufactures and sells Hydrate and Alumina, Aluminium and Aluminium
Products. ii. Copper Segment: This part of business manufactures and sells Copper Cathode, Continuous Cast Copper Rods, Sulphuric Acid, DAP & Complexes, Gold, Silver and other precious metals. (Registered Activity) |
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No. of Employees
: |
23679 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A++ |
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is the flagship company of the Aditya Birla group established
in the year 1958. It is an integrated aluminium manufacturer, mines bausite and
refines it into alumina. It also manufacturers semi-fabricated rolled and
extruded products. For the financial year ended 2017, the company has sound operation
performance marked by impressive revenue and fair profitability level. The company robust financial profile is reflected by healthy net worth
base along with low debt level of the company. The company also continue to derive strength from the leadership
position of Hindalco in India’s aluminium industry and being one of the lowest
cost producers for aluminium in the world, the highly reputed promoter group
(Aditya Birla Group), professionally qualified and experienced management and
strong liquidity profile. Share price are quoted high on stock exchange (i.e. share price of INR
243.00 with face value of INR 1). Fundamentals of the company are strong and healthy. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. In view of aforesaid, the company can be considered good for normal
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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
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Rating |
Long Term Rating (AA+) |
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Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
26.09.2017 |
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Rating Agency Name |
CARE |
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Rating |
Short Term Rating (A1+) |
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Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
26.09.2017 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
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 10.02.2018
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.
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.
LOCATIONS
|
Registered Office/ Marketing Head Office / International Marketing / Export Office: |
Ahura Centre, 82, 1st Floor, B Wing, Mahakali Caves Road, Andheri (East), Mumbai – 400093, Maharashtra, India |
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Tel. No.: |
91-22-66917142
/031 / 30 / 37 / 40 /00 / 66917000 |
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Fax No.: |
91-22-66917070/ 6691
7001 |
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E-Mail : |
hindalco.rkt@rmjsprintrpg.ems.vsnl.net.in sujatha.sheshadri@adityabirla.com |
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Website : |
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Corporate
Office 1/ - Marketing/ Head Office
(Copper) 1 : |
Aditya Birla Centre, S. K. Ahire Marg, Worli, Mumbai – 400030,
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Tel No.: |
91-22-66525000 / 24995000 |
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Fax No.: |
91-22-66525847 / 24995841 |
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Email : |
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Website: |
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Marketing Office (Copper) 2: |
Aditya Birla Centre, 1st Floor, D Wing Worli, Mumbai – 400030, Maharashtra, India |
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Tel. No.: |
91-22-66525205 / 24995205 |
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Fax No.: |
91-22-66525211 / 24995211 |
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Email : |
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Corporate
Office 2: |
Foil and Packaging Business, Kalwa Works, Thane
Belapur Road, Near Vitawa Village, Kalwa, Thane-400 605, Maharashtra, India |
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Tel. No.: |
91-22-25347151 |
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Fax No. : |
91-22-24227586 |
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Email : |
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Domestic Marketing
- West Zone |
264-265, Vasvani Chambers, 2nd Floor, Dr. Annie Besant Road, Opposite Old Passport Office, Worli, Mumbai - 400 030, Maharashtra, India |
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Tel. No.: |
91-22-49204252 |
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Fax No. : |
91-22-49204500 |
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Email : |
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Regional offices
(Chemicals Marketing) - North |
Mindmill Corporates Towers, 5th Floor, 24 A, Film City, Sectorr – 16 A, Noida- 20130, Uttar Pradesh, India |
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Tel. No.: |
91-120-6692100 |
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Fax No. : |
91-120-6692105 |
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Regional offices (Chemicals
Marketing) - South |
Industry House, 2nd Floor, 45, Race Course Road, Bangalore – 560001, Karnataka, India |
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Tel. No.: |
91-80-40416118 |
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Regional offices
(Chemicals Marketing) - East |
Jeevan Deep Building 1, 1st Floor, Prafulla Chandra Sen Sarani, Middleton Street, Kolkata – 700071, West Bengal, India |
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Tel No.: |
91-33-22882680 |
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Email : |
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Regional
Office – Aluminum : |
Vandhana, 5th Floor ,11 Tolstoy Marg, New Delhi – 110001, India Tel No.: 91-11-42200204 / 228 / 230 / 271 / 200 Fax No.:91-11-23721595
Industry House, 7th Floor, 45, Race Course Road, Bangalore – 560001, Karnataka, India Tel No.:91-80-4041 6010 / 21 / 22 / 00 Email: sathish.chandra@adityabirla.com Jeevan Deep Building 1, 2nd Floor, Prafulla Chandra Sen Sarani, Middleton Street, Kolkata – 700071, West Bengal, India Tel No.: 91-33-22809710 Fax No.:91-33-22886139 |
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Regional Office
(North) : |
Mindmill Corprates Towers, 5th Floor, 24 A, Film City, Sectorr – 16 A, Noida- 20130, Uttar Pradesh, India |
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Tel. No.: |
91-120-6692100 |
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Fax No. : |
91-120-6692105 |
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Email : |
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Regional Office
(East) : |
9th floor, Industry House 10, Camac Street, Kolkata - 700 017, West Bengal, India |
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Tel. No.: |
91-33-2280 9710 / 2288 6135 |
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Fax No. : |
91-33-2288 6139 |
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Email : |
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Regional Office
(West) : |
Ahura Centre, 1st
Floor, 82, Mahakali Caves Road, Mumbai – 400093, Maharashtra, India |
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Tel. No.: |
91-22-6691 7000 / 31 / 85 / 81 |
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Fax No. : |
91-22-6691 7070 |
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Email : |
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Regional Office
(South) : |
7th floor, Industry House, 45 Race Course Road, Bangalore - 560001, Karnataka, india |
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Tel. No.: |
91-80-4041 6008 |
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Fax No. : |
91-80-2225 3086 |
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Email : |
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Principal
Office and Works / Renusagar Power Division : |
District
Sonbhadra, P. O. Renukoot – 231217, Mirzapur, Uttar Pradesh, India |
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Tel. No.: |
91-5446-252077-9/
272501-5 |
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Fax No.: |
91-5446-252107 / 252427/
272382 |
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E-Mail : |
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Birla Copper
Division: |
P. O. Dahej,
Lakhigam, District Bharuch – 392130, Gujarat, India |
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Tel. No.: |
91-2641-256004-06/251009 |
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Fax No.: |
91-2641-251002-3 |
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E-Mail : |
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Foil and Wheels Division: |
Village Khutli,
Khanvel, Silvassa – 396230, |
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Tel. No.: |
91-260-2677021-4 |
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Fax No.: |
91-260-2677025 |
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Export Office: |
9/1, R. N.
Mukherjee Road, Kolkata – 700001, West Bengal, India |
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Tel. No.: |
91-33-22480949 /
22200464 |
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Fax No.: |
91-33-22200214 |
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Email: |
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Factory : |
ALUMINIUM
AND POWER
P.O. Renukoot -231217,
District Sonbhadra, Uttar Pradesh, India Tel No.: 91-5446-252077-9 Fax No.:91-5446-252107 P.B. No. 21 Alupuram
Kalamassery, Kerala 683 104, India Tel: +91-484-254 2890 / 254 2911 Fax: +91-484-254 1887 Email: vivek.jacob@adityabirla.com
P. O. Renusagar, District Sonbhadra,
Uttar Pradesh, India Tel No.: 91-5446-272502-5 Fax No.: 91-5446272382
Hirakud 768 016, District
Sambalpur, Orissa, India Tel No.: 91-663-
2481307/1452 Fax No.:91-663-2481356
Post Box No.12, Hirakud 768
016, District: Sambalpur, Orissa Alupuram, India Tel No.: 91-663- 2481307 Fax No.: 91-663- 2481342/365
NH-75-E, Singrauli, Sidhi Road, P.O., Bargawan, District- Singaruli - 486886, Madhya Pradesh, India Tel No.: 07805281014
Lapanga, District Sambalpur – 768212, Orissa, India Tel No.:91- 663-2114424 Fax No.: 91- 663-2590434
Post-Milupara, Tehsil-Tammar,, Disst.- Raigarh-496001 (CG), (Chhattisgarh)-496107, India
Gare Palma IV/5Underground Coal Mines, Village & Post-Milupara, Tehsil-Tamnar, Dist: Raigarh, (Chhattisgarh)-496107, India
Kathautia Open Cast Coal Mine, (Koccm), Village-Kathautia,, P.O.-Naudiha, PS,-Pandwa, Dist: Palamau, Jharkhand-822123, India
103, Commerce Tower, Near Mahavir Tower, Main Road, Ranchi-834001, India Tel: (0651) 2330944/48 Fax: (0651) 2330782 COPPER:
P.O. Dahej, Lakhigam Post,
District. Bharuch – 392 130, Gujarat, India Tel No.: 91-2641-
256004-06/ 251009 Fax No.: 91-2641- 251002-3 CHEMICALS:
Post Chotamuri-835 101,
District Ranchi, India Tel No.: : 91-6522- 244396
Fax No.: 91-6522-244231
Village Yamanapur , Belgaum 590
010 39, Karnataka, India Tel No.: 91-831-2472716 Fax No.:91-831-2472728 MINES
At Post Radhanagri, District:
Kolhapur, Maharashtra – 416 212, India Tel No.: 91-2321-260036 Fax No.: 91-2321-260037
District: Lohardaga – 835 302,
Jharkhand, India Tel No.: 91-6526-224446 Fax No.: 91-6526-224446
Hindalco Colony , Baba Chowk, Jashpur Mode, AT/PO – Kusmi, Dist. Balrampur – Ramanujganj, Chattisgarh – 497224, India SHEET,
FOIL, WHEEL, PACKAGING AND EXTRUSIONS
39, Grand Trunk Road,
Belurmath 711 202, District: Howrah, West Bengal,
India Tel No.: 91-33-26547210 Fax No.: 91-33-26549982
Plot 2, MIDC Industrial Area, Taloja
A.V., District: Raigad, Navi Mumbai – 410 208, Maharashtra, India Tel No. 91-22-27412261/ 66292929 Fax No.: 91-22-27412430
Alupuram, P.B. No.30,
Kalamassery – 683 104, District: Ernakulam, Kerala,
India Tel No.: 91-484-2532441 Fax No.: 91-484- 2532468
Village Dahali, Ramtek Road,
Mouda, Nagpur – 441 104, Maharashtra, India Tel No: 91-7115-660777/786
Village- Kollur, Re Puram
Mandal, Via Mutangi, Medak District, Andhra Pradesh – 502 300,
India Tel No:: 91-8413- 234300/ 234204/05 Fax No.: 91-8455-288829
Hirakud, District – Sambalpur -– 768016, Orissa, India Tel No.:91-663-6625000 Fax No.:91-663-2481344 |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Madhukar Manilal Bhagat |
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Designation : |
Director |
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Address : |
13, Kabir Road, Kolkata-700026, West Bengal, India |
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Date of Appointment : |
15.03.1996 |
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DIN No.: |
00006245 |
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Name : |
Mr. Kumar Mangalam Birla |
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Designation : |
Director |
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Address : |
Mangal Adityayan, 20 Carmichel Road Behind Jaslok
Hospital, Mumbai-400026, Maharashtra, India |
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Date of Appointment : |
16.11.1992 |
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DIN No.: |
00012813 |
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Name : |
Mr. Jagdish Khattar |
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Designation : |
Director |
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Address : |
E-16, Sector-40, Noida, Gautam Budh Nagar, Noida-201301,
Uttar Pradesh, India |
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Date of Appointment : |
09.05.2011 |
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DIN No.: |
00013496 |
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Name : |
Ms. Rajashree Birla |
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Designation : |
Director |
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Address : |
Mangal Adityayan, 20 Carmichel Road, Behind Jaslok
Hospital, Mumbai-400026, Maharashtra, India |
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Date of Appointment : |
15.03.1996 |
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DIN No.: |
00022995 |
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Name : |
Mr. Askaran Agarwal |
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Designation : |
Director |
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Address : |
Flat No 3, Haveli, L.D Ruparel Marg, Mumbai – 400006,
Maharashtra, India |
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Date of Appointment : |
11.09.1998 |
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DIN No.: |
00023684 |
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Name : |
Mr. Kailash Nath Bhandari |
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Designation : |
Director |
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Address : |
5, New Power House Road, Sector - 7 Jodhpur-342001,
Rajasthan, India |
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Date of Appointment : |
30.01.2006 |
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DIN No.: |
00026078 |
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Name : |
Mr. Debnarayan S Bhattacharya |
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Designation : |
Managing Director |
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Address : |
13th Floor, Navroz Apartment, 35, Bhulabhai Desai,
Mumbai-400026, Maharashtra, India |
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Date of Appointment : |
01.10.2008 |
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DIN No.: |
00033553 |
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Name : |
Mr. Girish Mohanlal Dave |
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Designation : |
Director |
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Address : |
Dave and Girish and Company Advocates, 1st Floor, Sethna
Building, 55 Maharshi Karve Road, Marine Lines, Mumbai-400002, Maharashtra,
India |
|
Date of Appointment : |
28.05.2016 |
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DIN No.: |
00036455 |
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Name : |
Mr. Praveen Kumar Maheshwari |
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Designation : |
Wholetime Director |
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Address : |
2201 Springs Island City Centre, G D Ambedkar Marg, Dadar
East, Mumbai-400014, Maharashtra, India |
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Date of Appointment : |
28.05.2016 |
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DIN No.: |
00174361 |
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Name : |
Mr. Yazdi Dandiwala |
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Designation : |
Director |
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Address : |
C-11 Meherzin Wodehouse Road, Colaba Mumbai-400005,
Maharashtra, India |
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Date of Appointment : |
14.08.2015 |
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DIN No.: |
01055000 |
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Name : |
Mr. Ram Charan |
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Designation : |
Director |
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Address : |
12655, N C Expwy #103 Dallas Tx 75243 Dallas 75243 US |
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Date of Appointment : |
12.02.2011 |
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DIN No.: |
03464530 |
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|
Name : |
Mr. Satish Pai |
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Designation : |
Whole time Director |
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Address : |
The Imperial South Tower, Apartmnet#4202, B.B. Nakashe
MarG, Tardeo, Mumbai-400034, Maharashtra, India |
|
Date of Appointment : |
13.08.2013 |
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DIN No.: |
06646758 |
KEY EXECUTIVES
|
Name : |
Mr. Anil Kumar Kishan Malik |
|
Designation : |
Company Secretary |
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Address : |
F-623, Ekta Woods, Raheja Estate, Kulupwadi Road, Borivali,
Mumbai-400066, Maharashtra, India |
|
Date of Appointment : |
06.04.2004 |
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PAN |
ADHPM2865R |
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Name : |
Mr. Praveen Kumar Maheshwari |
|
Designation : |
Chief Finance Executive |
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Address : |
2201, Springs Island City Centre, G D Ambedkar Marg, Dadar East, Mumba
– 400014, Maharashtra, India |
|
PAN |
AAJPM4103D |
|
Date of Appointment : |
14.08.2014 |
|
|
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|
Name : |
Mr. Kumar Mangalam Birla |
|
Designation : |
Chairman |
|
Address : |
16-A, IL-Palazzo, Little Gibbs Road, Mumbai – 400 006, Maharashtra,
India |
|
Qualification : |
A.C.A, M.B.A. |
|
Date of Birth : |
14.06.1967 |
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Date of Appointment : |
16.11.1992 |
|
|
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|
Name : |
Mr. Prem |
|
Designation : |
Manager |
|
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CORPORATES : |
|
|
Name : |
Mr. V. R. Shankar |
|
Designation : |
President and Head-Legal |
|
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|
Name : |
Mr. Samik Basu |
|
Designation : |
Chief Human Resource Officer |
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|
Name : |
Mr. Chandan Agrawal |
|
Designation : |
Chief Strategy Offi cer |
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BUSINESS / UNIT HEAD: |
|
|
Name : |
Mr. Jagdish Chandra Laddha |
|
Designation : |
Group Executive President, Copper Business |
|
|
|
|
Name : |
Mr. Rajesh Gupta |
|
Designation : |
Senior President and Cluster Head (Aditya and Hirakud Units) |
|
|
|
|
Name : |
Mr. Devotosh K. Das |
|
Designation : |
Chief Marketing Officer, Aluminium |
|
|
|
|
Name : |
Mr. Sanjay Sehgal |
|
Designation : |
President (Chemicals) |
|
|
|
|
Name : |
Mr. Satish Jajoo |
|
Designation : |
Chief Operating Officer (Renukoot, Renusagar and Mahan Units) |
|
|
|
|
Name : |
Mr. B. Arun Kumar |
|
Designation : |
President (Operations) |
|
|
|
|
Name : |
Mr. Pramod Unde |
|
Designation : |
President (Mining and Minerals) |
|
|
|
|
NOVELIS INC |
|
|
Name : |
Mr. Steve Fisher |
|
Designation : |
President and Chief Executive Officer |
|
|
|
|
UTKAL ALUMINA INTERNATIONAL LIMITED |
|
|
Name : |
Mr. Nagesh Narisetty, |
|
Designation : |
President and Unit Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on December 2017
|
Category of
shareholder |
No.
of fully paid up equity shares held |
Shareholding
as a % of total no. of shares |
|
|
(A) Promoter & Promoter Group |
763797188 |
34.67 |
|
|
(B) Public |
1328709676 |
65.33 |
|
|
Grand
Total |
2092506864 |
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 |
|
|
A1) Indian |
0.00 |
|
|
|
Individuals/Hindu
undivided Family |
2398696 |
0.11 |
|
|
KUMAR MANGALAM BIRLA |
901635 |
0.04 |
|
|
NEERJA BIRLA |
114640 |
0.01 |
|
|
RAJASHREE BIRLA |
612470 |
0.03 |
|
|
VASAVADATTA BAJAJ |
121319 |
0.01 |
|
|
ADITYA VIKRAM KUMARMANGALAM BIRLA HUF |
648632 |
0.03 |
|
|
Any Other
(specify) |
761398492 |
33.92 |
|
|
ADITYA BIRLA NUVO LIMITED |
33506337 |
1.49 |
|
|
BIRLA GROUP HOLDINGS PRIVATE LIMITED |
6731467 |
0.30 |
|
|
BIRLA INSTITUTE OF TECHNOLOGY AND SCIENCE |
21583090 |
0.96 |
|
|
GLOBAL HOLDINGS PRIVATE LIMITED |
6336 |
0.00 |
|
|
GRASIM INDUSTRIES LIMITED |
54542475 |
2.43 |
|
|
IGH HOLDINGS PRIVATE LIMITED |
349963487 |
15.60 |
|
|
MANAV INVESTMENT AND TRADING COMPANY
LIMITED |
672571 |
0.03 |
|
|
PILANI INVESTMENT AND INDUSTRIES
CORPORATION |
29185398 |
1.30 |
|
|
TGS INVESTMENT AND TRADE PRIVATE LIMITED |
4485249 |
0.20 |
|
|
TRAPTI TRADING AND INVESTMENTS PRIVATE
LIMITD |
93063124 |
4.15 |
|
|
TURQUOISE INVESTMENTS AND FINANCE PRIVATE LIMITED |
124012468 |
5.53 |
|
|
UMANG COMMERCIAL COMPANY PRIVATE LIMITED |
27330360 |
1.22 |
|
|
TRUSTEE HOLDING SHARES UNDER THE SCHEME OF
MERGER OF HIL/IGCL/IGFL ON BEHALF OF HINDALCO |
16316130 |
0.73 |
|
|
Sub Total A1 |
763797188 |
34.02 |
|
|
A2) Foreign |
0.00 |
|
|
|
Any Other
(specify) |
14542309 |
0.65 |
|
|
PT INDO BHARAT RAYON |
9633890 |
0.43 |
|
|
PT SUNRISE BUMI TEXTILES |
3004167 |
0.13 |
|
|
PT ELEGANT TEXTILE INDUSTRY |
1902752 |
0.08 |
|
|
SURYA KIRAN INVESTMENTS PTE LIMITED |
1500 |
0.00 |
|
|
Sub Total A2 |
14542309 |
0.65 |
|
|
A=A1+A2 |
763797188 |
34.67 |
|
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 % of (A+B+C2) |
|
|
B1) Institutions |
0 |
0.00 |
|
|
Mutual Funds/ |
196858270 |
8.77 |
|
|
Foreign Portfolio Investors |
667174505 |
29.72 |
|
|
Financial Institutions/ Banks |
2775416 |
0.12 |
|
|
Insurance Companies |
172436219 |
7.68 |
|
|
LIFE INSURANCE CORPORATION OF INDIA & ITS ASSOCIATE FUNDS |
157354526 |
7.01 |
|
|
Sub Total B1 |
1039244410 |
46.29 |
|
|
B2) Central Government/ State Government(s)/ President of India |
0 |
0.00 |
|
|
Central Government/ State Government(s)/ President of India |
345520 |
0.02 |
|
|
Sub Total B2 |
345520 |
0.02 |
|
|
B3) Non-Institutions |
0 |
0.00 |
|
|
Individual share
capital upto INR 0.200 Million |
118455565 |
5.28 |
|
|
Individual share
capital in excess of INR 0.200 Million |
11395825 |
0.51 |
|
|
Overseas Depositories (holding DRs) (balancing figure) |
0 |
6.14 |
|
|
J P MORGAN CHASE BANK AS DEPOSITORY |
0 |
6.14 |
|
|
Any Other (specify) |
159268356 |
7.09 |
|
|
BAJAJ ALLIANCE LIFE INSURANCE COMPANY |
25006611 |
1.11 |
|
|
Sub Total B3 |
289119746 |
19.02 |
|
|
B=B1+B2+B3 |
1328709676 |
65.33 |
BUSINESS DETAILS
|
Line of Business : |
The Company has two reportable
segments viz. Aluminium and Copper Description of each of the
reporting segments is as under: i. Aluminium Segment: This part of business
manufactures and sells Hydrate and Alumina, Aluminium and Aluminium Products. ii. Copper Segment: This part of business manufactures and sells Copper Cathode, Continuous Cast Copper Rods, Sulphuric Acid, DAP & Complexes, Gold, Silver and other precious metals. (Registered Activity) |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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|
Imports : |
Not Available |
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|
Terms : |
Not Available |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees
: |
23679 (Approximately) |
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Bankers : |
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Facilities : |
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|
Auditors 1: |
|
|
Name : |
Warehouse and Company Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar (West), Mumbai – 400028,
Maharashtra, India |
|
Tel. No.: |
91-22-66691500 |
|
E-Mail : |
91-22-66547804/ 07 |
|
|
|
|
Auditors 2: |
|
|
Name : |
Singhi and Company Chartered Accountants |
|
Address : |
161, Sarat Bose Road, Kolkata - 700026, West Bengal, India |
|
Tel. No.: |
91-33-24196000 |
|
Mobile No.: |
91-9836233222 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Cost Auditor: |
|
|
Name : |
R. Nanabhoy and Company |
|
Address : |
Mumbai, Maharashtra, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiaries : |
|
|
|
|
|
Associates |
|
|
|
|
|
Joint Ventures: |
|
|
|
|
|
Trust of the
Company: |
Trident Trust |
CAPITAL STRUCTURE
After: 13.09.2017
Authorised Capital: INR 2550.000 million
Issued Capital: INR 2244.944 million
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000000 |
Equity Shares |
INR 1/- each |
INR 2500.000 Million |
|
25000000 |
Redeemable
Cumulative Preference Shares |
INR 2/- each |
INR 50.000 Million |
|
|
|
|
INR 2550.000
Million |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2243807736 |
Equity Shares |
INR 1/- each |
INR 2243.800 Million |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2243800339 |
Equity Shares |
INR 1/- each |
INR 2243.800
Million |
|
546249 |
Less: Face Value of Equity Shares forfeited |
|
INR 0.500 Million |
|
|
Add: Forfeited Shares (Amount originally Paid-up) |
|
INR 0.200 Million |
|
|
Total |
|
INR 2243.500 Million |
|
16316130 |
Less: Treasury Shares |
INR 1/- each |
INR 16.300 |
|
|
Total |
|
INR 2227.200 Million |
(a) Issued Share Capital as at 31/03/2017 includes 7,397 Equity Shares (as at 31/03/2016 7,397 Equity Shares and as at 01/04/2015 7,397 Equity Shares) of INR 1/- each issued on Rights basis kept in abeyance due to legal case pending.
(b) Treasury shares are held by Trident Trust which represents 16,316,130 equity shares of INR 1/- each fully paid-up of the Company issued, pursuant to a Scheme of Arrangement approved by the Hon’ble High Courts of Mumbai and of Allahabad, vide their Orders dated 31st October, 2002, and 18th November, 2002, respectively, to the Trident Trust, created wholly for the benefit of the Company and is being managed by trustees appointed by it. The tenure of the Trust is up to January 23, 2024.
(b) Reconciliation of
Shares Outstanding at the beginning and at the end of the reporting period:
|
Equity Shares |
Number
of Shares |
INR
In Million |
|
Shares outstanding at the beginning of the year |
2048669630 |
2048.900 |
|
Shares allotted pursuant to exercise of ESOP |
1440671 |
1.400 |
|
Equity Shares Outstanding at the end of the period |
2226937960 |
2227.200 |
(c) Rights,
Preferences and Restrictions attached to Equity Shares:
(d) On 9th March, 2017, the Company has issued and allotted 17,68,27,659 Equity Shares of INR 1/- each at an issue price of INR 189.45 per share to raise INR 33500.00 Crore by way of Qualifi ed Institutional Placement (“QIP”) under Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 and Section 42 of the Companies Act, 2013 read with Rule 14 of the Companies (Prospectus and Allotment of Securities Rules, 2014). Expenses related to the issue amounting to INR 42.67 Crore have been adjusted against Securities Premium. Use of the net proceeds of the Qualifi ed Institutional Placement is intended for business purposes such as meeting working capital requirements, repayment or prepayment of debt, exploring acquisition opportunities and general corporate purposes. Pending utilisation, the proceeds (net of issue expenses) have been invested in short term liquid investments and included in Cash and Cash Equivalents as at 31/03/2017. However, the entire amount has since been utilised for prepayment of long term debt. (e) Rights, preferences and restrictions attached to Equity Shares: The Company has one class of equity shares having a par value of INR 1/- 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.
(d) Details of
shareholders holding more than 5% Equity Shares in the Company on reporting
date:
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
IGH Holdings Private Limited |
349963487 |
15.60 |
|
Turquoise Investment and Finance Limited |
124012468 |
5.53 |
|
Morgan Guaranty Trust Company of New York
(represents GDRs) |
152946895 |
6.82 |
|
Life Insurance Corporation of India and
its Associates Funds |
205527350 |
9.16 |
(e) Shares Reserved
for Issue under Options:
The Company has reserved equity shares for issue under the Employee Stock Option Schemes.
(f) The Company
during the preceding 5 years:
i. Has not allotted shares pursuant to contracts without payment received in cash.
ii. Has not issued shares by way of bonus shares.
iii Has not bought back any shares.
(i) The Board of Directors of the Company has recommended dividend of INR 1.10 per share for the year ended
31st March, 2017.
FINANCIAL DATA
[all figures are
in 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 |
2227.200 |
2065.200 |
2065.200 |
|
(b) Reserves & Surplus |
471098.400 |
368613.700 |
370487.400 |
|
(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) |
473325.600 |
370678.900 |
372552.600 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
183919.500 |
238960.400 |
229738.500 |
|
(b) Deferred tax liabilities
(Net) |
12316.700 |
16792.500 |
17482.800 |
|
(c) Other long term
liabilities |
4879.800 |
5778.600 |
4746.300 |
|
(d) long-term provisions |
4533.200 |
5539.400 |
4559.000 |
|
Total
Non-current Liabilities (3) |
205649.200 |
267070.900 |
256526.600 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
42299.800 |
46409.900 |
56755.300 |
|
(b) Trade payables |
52851.100 |
39440.000 |
36516.500 |
|
(c) Other current liabilities |
86326.300 |
24997.500 |
26781.300 |
|
(d) Short-term provisions |
2769.500 |
12669.700 |
10874.100 |
|
Total
Current Liabilities (4) |
184246.700 |
123517.100 |
130927.200 |
|
|
|
|
|
|
TOTAL |
863221.500 |
761266.900 |
760006.400 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
340177.100 |
327005.700 |
260358.700 |
|
(ii) Intangible Assets |
3665.700 |
1129.100 |
240.200 |
|
(iii) Capital work-in-progress |
7115.400 |
30832.700 |
107436.100 |
|
(iv) Intangible assets under
development |
0.100 |
3.300 |
0.200 |
|
(b) Non-current Investments |
204791.700 |
147973.300 |
147817.500 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
505.300 |
12000.800 |
14547.300 |
|
(e) Other Non-current assets |
11068.600 |
800.800 |
314.400 |
|
Total
Non-Current Assets |
567323.900 |
519745.700 |
530714.400 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
88527.800 |
76695.300 |
64689.300 |
|
(b) Inventories |
92680.300 |
84121.100 |
88212.300 |
|
(c) Trade receivables |
18728.300 |
20185.200 |
18321.800 |
|
(d) Cash and cash equivalents |
43351.800 |
2178.200 |
9841.800 |
|
(e) Short-term loans and
advances |
1798.200 |
43008.700 |
38796.700 |
|
(f) Other current assets |
50811.200 |
15332.700 |
9430.100 |
|
Total
Current Assets |
295897.600 |
241521.200 |
229292.000 |
|
|
|
|
|
|
TOTAL |
863221.500 |
761266.900 |
760006.400 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
393831.200 |
343176.600 |
345250.300 |
|
|
Other Income |
10051.700 |
10662.100 |
8822.100 |
|
|
TOTAL
|
403882.900 |
353838.700 |
354072.400 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
210182.200 |
192094.500 |
210562.900 |
|
|
Purchases of Stock-in-Trade |
891.100 |
14.800 |
370.400 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(11001.600) |
1917.000 |
678.100 |
|
|
Excise Duty |
24465.100 |
0.000 |
0.000 |
|
|
Employees benefits expense |
17521.200 |
16980.600 |
15894.800 |
|
|
Power and Fuel |
58986.700 |
65080.600 |
52007.700 |
|
|
Exceptional Items |
(848.900) |
0.000 |
5777.000 |
|
|
Other expenses |
44651.300 |
33907.500 |
31571.200 |
|
|
TOTAL |
344847.100 |
309995.000 |
316862.100 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
59035.800 |
43843.700 |
37210.300 |
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
23228.700 |
23747.600 |
16370.900 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
35807.100 |
20096.100 |
20839.400 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
14279.700 |
12770.000 |
8370.300 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
21527.400 |
7326.100 |
12469.100 |
|
|
|
|
|
|
|
Less |
TAX |
5958.500 |
1253.600 |
3217.500 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER
TAX |
15568.900 |
6072.500 |
9251.600 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
|
124898.500 |
133344.500 |
|
|
Others |
|
8.300 |
28.600 |
|
|
TOTAL
EARNINGS |
156640.000 |
124906.800 |
133373.100 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
150896.200 |
175713.900 |
|
|
Coal and Fuel |
NA |
6282.600 |
6528.900 |
|
|
Trading Goods |
NA |
0.000 |
370.400 |
|
|
Components and Stores parts |
NA |
1409.300 |
736.600 |
|
|
Capital Goods |
NA |
14388.500 |
1406.400 |
|
|
TOTAL
IMPORTS |
NA |
172976.600 |
184756.200 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
7.55 |
2.94 |
4.48 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
45278.200 |
2312.600 |
3571.900 |
|
Cash generated from operations |
57897.400 |
40275.800 |
12790.800 |
|
Net cash flow from operating activity |
58976.000 |
36406.600 |
10292.700 |
QUARTERLY
RESULTS
|
Particulars |
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
31.12.2017 (Unaudited) |
|
|
1st Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
104070.400 |
103082.100 |
110228.200 |
|
Total Expenditure |
92593.200 |
89183.500 |
97110.900 |
|
PBIDT (Excl OI) |
11477.200 |
13898.600 |
13117.300 |
|
Other Income |
2563.300 |
1872.300 |
2933.500 |
|
Operating Profit |
14040.500 |
15770.900 |
16110.800 |
|
Interest |
4877.600 |
4836.100 |
4828.000 |
|
Exceptional Items |
(1044.000) |
(1055.200) |
(1152.900) |
|
PBDT |
8118.900) |
9879.600 |
10129.900 |
|
Depreciation |
3791.500 |
3803.600 |
3822.400 |
|
Profit Before Tax |
4327.400 |
6076.000 |
6307.500 |
|
Tax |
1431.400 |
2146.100 |
2552.100 |
|
Provisions and
contingencies |
NA |
NA |
NA |
|
Profit After Tax |
2896.000 |
3929.900 |
3755.400 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
2895.100 |
3928.500 |
3771.400 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
17.36 |
21.47 |
19.37 |
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
21.03 |
17.00 |
18.84 |
|
|
|
|
|
|
Average Payment Days [Sundry Creditors / Purchases
* 365] |
91.39 |
74.93 |
63.19 |
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
0.64 |
0.52 |
0.42 |
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
0.17 |
0.12 |
0.10 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.48 |
0.48 |
0.48 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.57 |
0.78 |
0.78 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.39 |
0.33 |
0.35 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.74 |
0.97 |
0.99 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
2.54 |
1.85 |
2.27 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
3.95 |
1.77 |
2.68 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
1.80 |
0.80 |
1.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
3.29 |
1.64 |
2.48 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.61 |
1.96 |
1.75 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.10 |
1.27 |
1.08 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.55 |
0.49 |
0.49 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
121.90 |
139.30 |
140.45 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.61 |
1.96 |
1.75 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK PRICES
|
Face Value |
INR 1.00/- |
|
Market Value |
INR 243/- |
FINANCIAL ANALYSIS
[all figures are
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 |
2065.200 |
2065.200 |
2227.200 |
|
Reserves & Surplus |
370487.400 |
368613.700 |
471098.400 |
|
Net
worth |
372552.600 |
370678.900 |
473325.600 |
|
|
|
|
|
|
Long Term borrowings |
229738.500 |
238960.400 |
183919.500 |
|
Short Term borrowings |
56755.300 |
46409.900 |
42299.800 |
|
Current Maturities of Long
term debt |
3571.900 |
2312.600 |
45278.200 |
|
Total
borrowings |
290065.700 |
287682.900 |
271497.500 |
|
Debt/Equity
ratio |
0.779 |
0.776 |
0.574 |
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
|
345250.300 |
343176.600 |
393831.200 |
|
|
|
(0.601) |
14.761 |
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
|
345250.300 |
343176.600 |
393831.200 |
|
Profit |
9251.600 |
6072.500 |
15568.900 |
|
|
2.68% |
1.77% |
3.95% |
ABRIDGED
BALANCE SHEET – (CONSOLIDATED)
|
SOURCES
OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
2227.200 |
2065.200 |
|
(b) Reserves & Surplus |
|
458360.800 |
382072.800 |
|
(c) Money received against
share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Minority Interest |
|
0.000 |
3888.000 |
|
(3) Net Controlling Interest |
|
62.300 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
460650.300 |
388026.000 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
518552.900 |
581761.600 |
|
(b) Deferred tax liabilities
(Net) |
|
28665.600 |
33303.400 |
|
(c) Other long term
liabilities |
|
10682.700 |
7977.000 |
|
(d) long-term provisions |
|
69601.500 |
73550.100 |
|
Total
Non-current Liabilities (3) |
|
627502.700 |
696592.100 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
65959.300 |
87685.900 |
|
(b) Trade payables |
|
178576.000 |
141221.000 |
|
(c) Other current liabilities |
|
122179.500 |
69433.100 |
|
(d) Short-term provisions |
|
10237.200 |
18656.200 |
|
Total
Current Liabilities (4) |
|
376952.000 |
316996.200 |
|
|
|
|
|
|
TOTAL |
|
1465105.000 |
1401614.300 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
639164.100 |
631247.400 |
|
(ii) Intangible Assets |
|
207703.900 |
175349.100 |
|
(iii) Capital work-in-progress |
|
17408.800 |
40576.400 |
|
(iv) Intangible assets under
development |
|
729.800 |
1437.700 |
|
(b) Non-current Investments |
|
62057.200 |
65583.600 |
|
(c) Deferred tax assets (net) |
|
8497.900 |
15997.700 |
|
(d) Long-term Loan and Advances |
|
1511.500 |
15219.000 |
|
(e) Other Non-current assets |
|
16050.500 |
5013.600 |
|
Total
Non-Current Assets |
|
953123.700 |
950424.500 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
89517.600 |
77655.100 |
|
(b) Inventories |
|
182913.600 |
167309.600 |
|
(c) Trade receivables |
|
82748.000 |
79413.500 |
|
(d) Cash and cash equivalents |
|
82611.700 |
43120.200 |
|
(e) Short-term loans and
advances |
|
1846.600 |
48313.600 |
|
(f) Other current assets |
|
72343.800 |
35377.800 |
|
Total
Current Assets |
|
511981.300 |
451189.800 |
|
|
|
|
|
|
TOTAL |
|
1465105.000 |
1401614.300 |
PROFIT
& LOSS ACCOUNT– (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
1026314.500 |
1000421.600 |
|
|
Other Income |
|
11110.000 |
12153.000 |
|
|
TOTAL
|
|
1037424.500 |
1012574.600 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
583966.300 |
581009.500 |
|
|
Purchases of Stock-in-Trade |
|
891.100 |
14.800 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
|
(28243.900) |
12852.200 |
|
|
Excise Duty |
|
24476.700 |
0.000 |
|
|
Employees benefits expense |
|
85460.100 |
82383.400 |
|
|
Power and Fuel |
|
85149.700 |
93169.200 |
|
|
Impairment Loss/(Reversal)
(Net) |
|
115.400 |
1606.300 |
|
|
Share in profit/(loss) in Equity Accounted Investments |
|
251.400 |
0.000 |
|
|
Exceptional Items |
|
76.400 |
5765.300 |
|
|
Other expenses |
|
150140.600 |
143077.200 |
|
|
TOTAL |
|
902283.800 |
919877.900 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
135140.700 |
92696.700 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
57424.400 |
50489.400 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
77716.300 |
42207.300 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
|
44572.400 |
41265.600 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
33143.900 |
941.700 |
|
|
|
|
|
|
|
Less |
TAX |
|
14320.900 |
493.600 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
FOR THE YEAR |
|
18823.000 |
448.100 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
9.22 |
0.22 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
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 |
--- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
MANAGEMENT DISCUSSION
AND ANALYSIS
HINDALCO: Excellence by Design Hindalco Industries Limited, the metals Flagship Company of Aditya Birla Group (ABG), is amongst the industry leader in aluminium and copper segments. With a consolidated turnover of around USD 15 billion, Hindalco is the world’s largest aluminium rolling company and one of Asia’s major integrated producers of primary aluminium. Its state-of-the-art copper facility is one of the world’s largest custom smelters at a single location. During the year accelerated deleveraging, supported by strong business performance, helped significantly to improve the consolidated Net Debt to EBITDA of the Company.
BUSINESS PERFORMANCE
REVIEW:
ALUMINIUM INDIA
INDUSTRY REVIEW:
Global primary aluminium consumption touched around 60 million tonnes, thus witnessing a growth of 5.0 percent in CY16 compared to a growth of 4.0 percent in Calendar Year 2015 (CY15). Demand growth in China witnessed a marginal recovery, growing at 7.0 percent in CY16 from 6.0 percent in CY15, due to stimulus provided by the government. China continued to be the largest consumer of the metal, accounting for more than 50 percent of the total global consumption. Global consumption, excluding China (i.e. ROW) also accelerated from a marginal growth of around 1.0 percent in CY15 to around 3.0 percent in CY16. Regions like Japan (up by 3.0 percent) and Europe (up by 3.0 percent) were major drivers of demand in CY16 whereas, demand growth in North America marginally moderated to around 1.8 percent in CY16 from 2.5 percent in CY15.
On the other hand, the growth in global primary aluminium production significantly moderated to around 3.5 percent in CY16 from 5.5 percent in CY15. Large-scale production curtailment in the U.S. was the major cause of the production slowdown in CY16. China also faced moderation in the beginning of the year, but recovered as the year progressed, on account of strong government stimulus. On the contrary, production in ROW grew from around 1.8 percent in CY15 to around 2.4 percent in CY16, on the back of production recovery from Central & South America, Russia and Canada.
In the Indian market, primary aluminium production maintained robust growth momentum for the third consecutive year in a row. In FY17, production registered a growth of 17 percent as compared to 19 percent in FY16 and 18 percent in FY15. However, primary producers’ share in domestic market sales reduced to 47 percent in FY17 from 49 percent in FY16. Overall aluminium consumption growth in India moderated to 1.5 percent in FY17 as against a growth of 14 percent in FY16. Disaggregating the demand at sectoral level, only transport sector witnessed a growth of around 15 percent in FY17, whereas, rest of the sectors registered slow demand growth during the same period. On the other hand, imports touched 1.8 million tonnes in FY17 (up by 5.0 percent) including 931 KT of scrap and 247 KT from FTA countries as against 1.7 million tonnes including 867 KT of scrap and 212 KT from FTA countries in FY16. Moreover, in value added and downstream segments, Indian market continued to be under pressure from low cost imports from China. In FY17, LME was on an upward trend as compared to FY16. The trend was supported by firm global demand, acceleration in cost of production driven by higher coal and alumina prices. Further, Chinese cost escalations accentuated due to logistical bottlenecks, which impacted local availability of raw materials like coal and alumina. Post the U.S elections, LME prices in aluminium witnessed a rally due to expected boost on infrastructure development by the new President. In Q4FY17, further rally in LME was majorly driven by announcement of environment-led closures and supply side reforms by the Chinese government. Premiums in FY17 remained at low levels, in September 2016 premiums fell to a record low versus the past few years. However, premiums started to recover from November 2016 due to supportive demand, price outlook and low inventory level in LME warehouses.
COPPER
INDUSTRY REVIEW:
The LME price of copper in first half of CY16 was subdued. However, with the surge in Chinese sentiments, supply disruption in the period from July 2016 to September 2016 and expected boost on infrastructure spending in U.S supported copper LME in Q4 CY16. Refined copper consumption growth recovered from a dismal growth of around 1.2 percent in CY15 to around 2.5 percent in CY16, majorly driven by Chinese consumption. In CY16, consumption in China registered a growth of around 4.5 percent as against a growth of 3.8 percent in CY15 on account of demand generated from power sector, air conditioning industry and auto sector. Global growth excluding China (ROW) recovered from a decline of around 0.9 percent in CY15 to a marginal growth of 0.7 percent in CY16. Recovery in demand was witnessed in Asia excluding China, North America and Europe whereas, demand in Brazil and Russia continued to decline in CY16. Demand growth in domestic market declined by 3.0 percent in FY17 as compared to a growth of 18 percent in FY16. The decline in overall demand was majorly driven by the sluggish economic activities especially industrial sector in second half of FY17.
STANDALONE FINANCIAL
STATEMENT:
REVENUE
• Hindalco’s standalone revenue in FY17 stood at INR 393830.000 Million as compared with INR 367130.000 Million in FY16 mainly to due increase in Aluminium volume and realization.
EBITDA
• The company achieved a record standalone EBITDA (Earnings before Interest, Tax, Depreciation and Amortization) of INR 58190.000 Million, up 35 percent as compared to the previous year. The robust performance was achieved on the back of higher Aluminium volumes with favourable macros and stable plant operations with lower input cost across businesses. Other Income at INR 8900.000Million in FY17 was higher as compared to INR 8490.000 Million in FY16, up by 5 percent mainly due to higher treasury corpus and improved yields.
Finance Cost
• Finance costs reduced from INR 23900.000 Million in FY16 Net Profit
• Net profit stood at INR 15570.000 Million in FY17, up by 182 percent as compared to INR 5520.000 Million in FY16.
COMPANY OVERVIEW
The Company was incorporated in India in the year 1958 having its registered office at Century Bhavan, 3rd Floor, Dr. Annie Besant Road, Worli, Mumbai 400 030. The Company has two main stream of business Aluminium and Copper. In Aluminium, the Company caters to the entire value chain starting from mining of bauxite and coal through production of value added products for various application. The Company also has one of the largest single location Copper smelting facility in India. The equity shares of the Company are listed on the Indian Stock Exchanges (National Stock Exchange & Bombay Stock Exchange) and GDRs are listed on the Luxemburg Stock Exchange.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Deferred Payment Liabilities |
8.700 |
9.200 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
Loans and Advances from Related Parties |
0.000 |
1005.000 |
|
From Banks: |
|
|
|
Buyers Credit and Packing Credit |
41614.800 |
44438.300 |
|
Total |
41623.500 |
45452.500 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G53217766 |
100122189 |
AXIS TRUSTEE SERVICES LIMITED |
31/08/2017 |
- |
- |
4029906973.0 |
AXIS HOUSE, BOMBAY DYEING MILLSCOMPOUND, PANDHURANG BUDHKAR MARG, WORLIMUMBAIMH400025IN |
|
2 |
G04081535 |
10627767 |
Axis Bank Limited |
05/03/2016 |
28/03/2016 |
- |
98450000000.0 |
Axis House, 2nd Floor, Wadia International Centre,Pandurang Budhkar Marg, WorliMumbaiMH400025IN |
|
3 |
G04080008 |
10596318 |
AXIS TRUSTEE SERVICES LIMITED |
30/09/2015 |
28/03/2016 |
- |
98450000000.0 |
Axis House, 2nd Flr, Bombay Dyeing Mills Compound,Pandurang Budhkar Marg, Worli,MumbaiMa400025IN |
|
4 |
G09130295 |
10595155 |
SBICAP TRUSTEE COMPANY LIMITED |
29/09/2015 |
29/07/2016 |
- |
30940000000.0 |
202, MAKER TOWER, 'E', CUFFE PARADE,COLABA,MUMBAIMa400005IN |
|
5 |
C52306834 |
10566318 |
Axis Trustee Services Limited |
14/04/2015 |
17/04/2015 |
- |
69230000000.0 |
Axis House, 2nd Flr, Bombay Dyeing Mills Compound,Pandurang Budhkar Marg, Worli,MumbaiMH400025IN |
|
6 |
C77609915 |
10376091 |
IDBI TRUSTEESHIP SERVICES LIMITED |
03/09/2012 |
18/01/2016 |
- |
15000000000.0 |
Asian Bldg, Ground Floor, 17, R. Kamani MargBallard EstateMUMBAIMH400001IN |
|
7 |
C77608537 |
10372704 |
IDBI TRUSTEESHIP SERVICES LIMITED |
01/08/2012 |
18/01/2016 |
- |
15000000000.0 |
Asian Bldg., Ground Floor, 17, R.Kamani Marg,Ballard Estate,MUMBAIMH400001IN |
|
8 |
C77534634 |
10360308 |
IDBI TRUSTEESHIP SERVICES LIMITED |
01/06/2012 |
18/01/2016 |
- |
30000000000.0 |
Asian Bldg., Ground Floor, 17, R.Kamani Marg,Ballard Estate,MUMBAIMH400001IN |
|
9 |
Z01051723 |
80059220 |
Bank of Maharashtra |
09/12/2004 |
- |
- |
1000000000.0 |
Lok Mangal1501, Shivaji NagarPuneMH411005IN |
|
10 |
Y10321148 |
90218583 |
STATE BANK OF INDIA |
30/09/2004 |
- |
- |
4900000000.0 |
CORPORATE ACCOUNTS GROUPS BRANCHVOLTAS HOUSE; 23; J. N. HERDIA MARG; BALLARD ESTATMUMBAIMH400001IN |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Claims against the Company not acknowledge as Debts |
|
|
|
Following demands are disputed by the Company and are not provided for: |
|
|
|
(i) Demand of Interest on past dues of the Aluminium Regulation Account up to 31st December, 1987. |
0.000 |
0.000 |
|
(ii) Retrospective Revision of Water Rates by UP Jal Vidyut Nigam Limited (April 1989 to June 1993 and Jan 2000 to Jan 2001). * Writ petition pending with Lucknow Bench of Allahabad High Court. The demand for arrears stayed vide order dated 11/05/2001. |
40.800 |
40.800 |
|
(iii) Transit Fees levied by Divisional Forest Officer, Renukoot, on Coal and Bauxite. * Appeal pending with the Hon’ble High Court of Allahabad, and payment of transit fee has been stayed. According to the legal opinion received by the Company, the Forest department has no authority to levy such fees. The Company has fi led a transfer application before the Hon’ble Supreme Court. The Hon’ble Supreme Court of India, while issuing notice on our Transfer Petition, stayed the further proceedings of the Company's Writ Petition pending before the Hon’ble Allahabad High Court. |
1375.700 |
1273.900 |
|
(iv) M.P. Transit Fee on Coal demanded by Northern Coal Fields Limited. |
257.900 |
251.500 |
|
* The Company had challenged the demand towards MP Transit Fee on Coal and fi led Writ Petition before the Hon'ble Jabalpur High Court. The Hon'ble High Court has struck down the levy and also ordered for refund of the amount paid under protest. The State Government has fi led an Appeal before the Hon'ble Supreme Court of India against the said order, and the Hon'ble Supreme Court has stayed the order of the Hon'ble High Court. The Counter Affidavit in the matter has been fi led. The rejoinder has also been fi led by the state. To be listed along with the similar matter before the Supreme Court of India. |
|
|
|
Imposition of Cess on Coal by Shaktinagar Special Area Development Authority. *Writ pending before Allahabad High Court, Allahabad. Demand and levy stayed. However, the Company has moved a transfer petition before the Hon'ble Supreme Court of India for tagging the matter with CA No. 1883 of 06 (ORISED Matter). The matter is tagged with ORISED and to be heard by the Nine Judges Bench of the Hon'ble Supreme Court. |
39.800 |
39.800 |
|
(vi) Demand of Royalty on Vanadium by District Mining Officer, Lohardaga. * In view of favourable order of the Jurisdictional High Court during the year on similar facts. |
0.000 |
0.000 |
|
(vii) The demand of Excise Duty on gold. *The Hon'ble Supreme Court has given order in favour of the Company |
0.000 |
0.000 |
|
(viii) Revision of Surface Rent on land by Government of Jharkhand w.e.f. 16th June, 2005. * Matter is in dispute at the Hon’ble Supreme Court. |
375.200 |
337.400 |
|
(ix) Demand made by Nayab Tehsildar Kusmi/Collector under Chhattisgarh as per Adhosanrachna Vikas evam Parayavaran Upkar Adhiniyam, 2005, @ 5% as environment tax on royalty plus 5% as development tax. |
97.600 |
85.900 |
|
* The Writ Petition, filed by the Company before the Hon’ble High Court of Chhattisgarh at Bilaspur, has been transferred to the Hon’ble Supreme Court and tagged with other Civil Appeals. |
|
|
|
(x) Service Tax paid on Goods Transport Agency and Business Auxiliary Services. |
0.000 |
112.700 |
|
* Commissioner has confirmed the demand. Appeal is being filed at CESTAT, New Delhi. |
|
|
|
(xi) MP Transit Fee on Bauxite |
13.000 |
13.000 |
|
Company has filed Writ Petition before the Hon'ble Jabalpur High Court. The Hon'ble High Court has struck down the levy and also ordered for refund of the amount paid under protest. The State Government has filed an appeal against the order of the Hon'ble High court. |
|
|
|
(xii) Demand for Entry Tax relating to valuation dispute of 2004-05 to 2005-06, for which appeals have been filed. * Appeal has been fi led with Additional CCT, Sambalpur. |
280.500 |
280.500 |
|
(xiii) CST demand on reopening of assessments for 1999-00 to 2003-04. * Appeals have been fi led. |
50.100 |
50.100 |
|
(xiv) Demand of Penalty on excess CENVAT Credit taken. *Appeal pending with the CESTAT, Ahmedabad. |
0.000 |
1.000 |
|
(xv) Demand for Sales Tax u/s 15B for A.Y. 2001-02 and 2002-03. * Appeal is pending with J.C. Appellate Authority, Baroda |
79.600 |
79.600 |
|
(xvi) Service Tax on insurance policy attributable to Renusagar. * Commissioner has confi rmed the demand. Appeal is pending before the CESTAT, New Delhi. |
0.000 |
39.700 |
|
(xvii) Disallowance of CENVAT
credit. |
52.900 |
52.900 |
|
* The matter is pending with
CESTAT, Ahmedabad |
|
|
|
(xviii) Demand raised on assessment under CST Act and APGST Act for various years. |
57.700 |
57.700 |
|
* Appeals have been fi led with appropriate authorities. |
|
|
|
(xix)
Demand for Service Tax on Consulting Engineer Services and Scientific and
Tech Service. |
0.000 |
38.400 |
|
* Appeal pending with Commissioner (Appeals), Ahmedabad. |
|
|
|
(xx) Alleged Cenvat taken without receipt of Alumina Hydrate inside the factory. |
34.600 |
34.600 |
|
* Appeal filed with CESTAT. |
|
|
|
(xxi) Alleged Cenvat availed on the Input Services at captive mines. |
360.500 |
360.500 |
|
*Appeal pending with CESTAT. |
|
|
|
(xxii) Cenvat of Service Tax Credit availed on Supplementary Invoices. *Pending with appropriate Authority. |
110.500 |
110.500 |
|
(xxiii) Excess rebate has been sanctioned to the extent duty paid by supplementary invoices. |
50.800 |
50.800 |
|
*Appeal pending with Commissioner of Customs (Appeals), Mumbai. |
|
|
|
(xxiv) Disallowance of CENVAT on input services. *Pending with appropriate Authority. |
103.700 |
96.200 |
|
(xxv) Water Tariff revision demand for previous years *Matter is pending in the Hon'ble High Court of Karnataka. |
81.400 |
81.400 |
|
(xxvi) Demand for Sales Tax under KVAT Act, 2003, for Tax period 2011-2012 and 2012-13. |
0.000 |
164.600 |
|
*Appeal pending with Commissioner, Appellate Authority, Bengaluru. |
|
|
|
(xxvii) Demand for Sales Tax under MPVAT Act, 2002, for Tax period 2010-11. |
0.000 |
0.000 |
|
*Order in favour of the Company. |
|
|
|
xxviii) Demand for Sales Tax under CST Act, 1969, for Tax Period 2009-10. *Appeal pending with Commissioner, Appellate Authority, Bengaluru. |
12.100 |
12.100 |
|
(xxix) U.P. Transit Fee on Coal. *Matter is pending in the Hon'ble High Court of Allahabad. |
853.600 |
65.000 |
|
(xxx) Demand for Sales Tax under MPVAT Act, 2002, for Tax period 2009-10. |
0.000 |
13.500 |
|
Demand for Sales Tax under MPVAT Act 2003 for Tax period 2009-10 |
0.000 |
12.500 |
|
Disallowance of Service Tax credit on input material received from Job worker |
12.700 |
0.000 |
|
Other Contingent Liabilities in respect of Excise, Customs, Sales Tax etc. each being for less than INR 10.000 Million |
152.600 |
168.600 |
|
|
|
|
|
(c) Other Money for
which the Company is contingently liable: |
|
|
|
(i) Bills discounted with Banks. |
0.000 |
0.000 |
|
(ii) Customs Duty on Capital Goods and Raw Materials imported under EPCG Scheme/Advance Licence, against which export obligation is to be fulfilled (excluding cenvatable portion). |
3470.800 |
3258.100 |
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED AND NINE MONTHS
DECEMBER 31, 2017
[INR
IN MILLION]
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
|
|
|
|
|
1. Income from Operations |
|
|
|
|
Net Sales/income from operations |
110228.200 |
103082.100 |
317380.700 |
|
Other Operating Income |
2993.500 |
1872.300 |
7429.000 |
|
Total income from operations (net) |
113221.700 |
104954.400 |
324809.700 |
|
|
|
|
|
|
Expenses |
|
|
|
|
Cost of materials consumed |
68847.400 |
60761.000 |
187881.200 |
|
Purchases of stock-in trade |
19.100 |
30.100 |
49.200 |
|
Changes in inventories of finished goods. work-in-progress
and stock in trade |
(4530.300) |
(1715.400) |
(8649.400) |
|
Employee benefits expense |
4964.100 |
4783.500 |
14131.100 |
|
Depreciation and Amortization Expenses |
3822.400 |
3803.600 |
11417.400 |
|
Other Expenses |
13077.600 |
10241.600 |
34437.400 |
|
Finance Costs |
4828.000 |
4836.100 |
14541.700 |
|
Power and Fuel |
14733.000 |
15082.700 |
44667.900 |
|
Excise Duty |
0.000 |
0.000 |
6370.000 |
|
Total expenses |
105761.300 |
97823.200 |
304846.500 |
|
Profit/ (Loss) from ordinary activities after finance cost
but before exceptional items |
7460.400 |
7131.200 |
19963.200 |
|
Exceptional items |
1152.900 |
1055.200 |
3252.100 |
|
Profit/ (Loss) from ordinary activities before tax |
6307.500 |
6076.000 |
16711.100 |
|
Tax expenses |
2552.100 |
2146.100 |
6129.600 |
|
Net Profit / (Loss) from ordinary activities after tax |
3755.400 |
3929.900 |
10581.500 |
|
Discounted Operation |
(16.000) |
(1.400) |
(13.700) |
|
Net Profit / (Loss) for the period |
3771.400 |
3928.500 |
10595.200 |
|
Comprehensive Income |
9835.900 |
(4134.100) |
15712.000 |
|
Net Profit/ (Loss) after taxes, minority interest and
share of profit/(loss) of associates |
13607.300 |
(205.600) |
26307.200 |
|
|
|
|
|
|
Paid up equity share capital (Face Value of INR 1/-each) |
2228.600 |
2227.500 |
2228.600 |
|
Reserve excluding Revaluation Reserve as per Balance Sheet
of previous accounting year |
- |
- |
-- |
|
Earnings per share (for continuing Operations) |
- |
- |
- |
|
(a) Basic |
1.69 |
1.76 |
4.75 |
|
(b) Diluted |
1.68 |
1.76 |
4.75 |
|
|
|
|
|
|
Earnings per share (for discounted Operations) |
- |
- |
- |
|
(a) Basic |
0.01 |
0.00 |
0.01 |
|
(b) Diluted |
0.01 |
0.00 |
0.01 |
|
|
|
|
|
|
Earnings per share (for discounted Operations and for
continuing Operations) |
- |
- |
- |
|
(a) Basic |
1.70 |
1.76 |
4.76 |
|
(b) Diluted |
1.69 |
1.76 |
4.76 |
STANDALONE
SEGMENT-WISE REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE QUARTER ENDED AND NINE MONTHS DECEMBER 31,
2017
|
Particulars |
Quarter ended |
Quarter ended |
6 Months ended |
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
Segment Revenue |
|
|
|
|
a) Aluminium |
53232.900 |
52129.600 |
155439.600 |
|
b) Copper |
57012.800 |
50968.300 |
162010.400 |
|
Total |
110245.700 |
103097.900 |
317450.000 |
|
Less: Inter Segment Revenue |
(17.500) |
(15.800) |
(69.300) |
|
Net Sales/Income
from Operations |
110228.200 |
103082.100 |
317380.700 |
|
|
|
|
|
|
Segment Results |
|
|
|
|
a) Aluminium |
9402.200 |
9566.300 |
27718.200 |
|
b) Copper |
4206.300 |
4666.300 |
12095.600 |
|
Total |
13608.500 |
14232.600 |
39813.800 |
|
Less: Depreciation and Amortization (including Impairment) |
(3822.400) |
(3803.600) |
(11417.400) |
|
Finance Costs |
(4828.000) |
(4836.100) |
(14541.700) |
|
|
4958.100 |
5592.900 |
13854.700 |
|
Add: Exceptional Items |
(1152.900) |
(1055.200) |
(3252.100) |
|
|
3805.200 |
4537.700 |
10602.600 |
|
Add: Other-Un-allocable / Corporate Income (Expenses) (Net) |
2502.300 |
1538.300 |
6108.500 |
|
Total Profit /
(Loss) before Tax from Continuing Operations |
6307.500 |
6076.000 |
16711.100 |
|
|
|
|
|
|
Segment Assets |
|
|
|
|
a) Aluminium |
419960.200 |
415383.900 |
419960.200 |
|
b) Copper |
108721.500 |
100940.600 |
108721.500 |
|
|
528681.700 |
516314.500 |
528681.700 |
|
Unallocated/ Corporate |
347893.100 |
358397.300 |
347893.100 |
|
Total Assets |
876574.800 |
874711.800 |
876574.800 |
|
|
|
|
|
|
Segment Liabilities |
|
|
|
|
a) Aluminium |
63071.100 |
60864.900 |
63071.100 |
|
b) Copper |
43869.100 |
41374.600 |
43869.100 |
|
|
106940.200 |
102239.500 |
106940.200 |
|
Unallocated Liabilities (including Borrowing) |
272762.200 |
289232.000 |
272762.200 |
|
Total Liabilities |
379702.400 |
391471.500 |
379702.400 |
Note:
- The Company has allotted 1279267 and 1635056 equity shares of each to the option grantees pursuant to the exercise of options under the Employees Stock Option Schemes during the quarter and nine months ended December 31, 2017, respectively.
- Details of Exceptional Income / (Expenses) for the current year are as under:
a. Basis the Supreme Court judgment dated 2nd August, 2017, in the matter of Common Cause V/s Union of India (to which the Company is not a party), in the State of Jharkhand, provisional demands are raised during the current quarter on the Company for its bauxite mines. The Company has challenged the purported demand before the Hon'ble High Court of Jharkhand and obtained stay on the demands vide orders dated 4th January, 2018 and 12,h January, 2018. One of the appeals filed by the State Government challenging the stay order is disposed of and rest of the appeals are listed for hearing on 7,h February, 2018. As the matter is pending final determination and considering the implication of existing litigation, the Company has provided INR 1152.900 million during the quarter ended December 31, 2017.
b. Basis a Supreme Court judgment dated 15th September, 2017, in the matter of Transit Fee on forest produce (as applicable, amongst others, in the States of Uttar Pradesh and Madhya Pradesh), an amount of INR 1393.500 million has been provided during the quarter ended September 30, 2017 towards probable obligation that may arise resulting from the above judgment for the minerals procured by the Company and transported through Road.
c. Basis a Supreme Court judgment dated 13th October, 2017, in the matter of establishment of the District Mineral Foundation (DMF) under the Mines and Minerals (Development and Regulation) Act, 1957 and considering the prospective contribution required to be made to the DMF by the holder of a mining lease or a prospecting licence-cum-mining lease in addition to the payment of royalty, an amount of INR 612.500 million has been written back during the quarter ended September 30, 2017, which was provided/ paid in earlier years relating to period for which such levy was held invalid or not applicable, as per the above Supreme Court judgment.
d. Basis a Supreme Court judgment dated 22nd September, 2017, in the matter of proportionate reduction in input tax credit in case of sale in course of inter-state trade, commerce and branch transfer under the Gujarat Value Added Tax Act, 2003 to which the Company is not a party, an amount of INR 274.200 million related to earlier periods has been provided during the quarter ended September 30, 2017.
e. Basis a Supreme Court judgment in a matter relating to mining regulations (to which the Company is not a party), the Company anticipates that the judgment may have an implication on its existing litigation which is sub-judice and accordingly made a provision of 44.000 million during quarter ended June 30, 2017.
- Post the applicability of GST with effect from July 1, 2017, Revenue is required to be disclosed net of GST as per requirement of Ind AS 18, 'Revenue'. Accordingly, the Revenue figures for the quarter and nine month ended December 31, 2017 are not comparable with the previous corresponding periods.
- During the quarter and nine months ended December 31, 2017, the Company has prepaid INR 11330.000 million and INR 56855.100 million of Rupee Term Loan, respectively to various bankers.
- Segment reporting has been done in compliance with Ind AS 108, 'Operating Segments'. For this purpose, Aluminium and Copper have been identified as reportable segments with "Earnings before Finance Costs, Exceptional Items, Tax Expenses, Depreciation and Amortization, Impairment of Non-current Assets, Investment Income, Fair value gain ((loss) on Investments and Borrowings but after allocation of Corporate Expenses" as the segment performance measure.
- These results have been reviewed by the Audit Committee and approved at the meeting of the Board of Directors held on Friday, 2nd February, 2018. Limited Review as required under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 has been carried out by the statutory auditors of the Company, M/s Price Waterhouse & Co Chartered Accountants LLP. Results for the quarter and nine months ended December 31, 2016 and year ended March 31, 2017 were reviewed/ audited by previous Auditors, M/s Singhi and Company
- Figures of previous periods have been regrouped/ reclassified wherever necessary to conform to current period classification.
FIXED ASSETS
- Leasehold Land
- Freehold Land
- Buildings
- Plant and Equipment
- Furniture and Fixtures
- Vehicles and Aircraft
- Office Equipment
- Railway Sidings
PRESS RELEASE
HINDALCO REPORTS STRONG FINANCIAL PERFORMANCE FOR QUARTER ENDED
SEPTEMBER 30, 2017
HINDALCO STANDALONE REPORTS SOLID FINANCIAL PERFORMANCE FOR QUARTER
ENDED DECEMBER 31, 2017
02 FEBRUARY 2018
- PBT before Exceptional items at INR 7460.000 million (up 62 per
cent over Q3FY17)
- EBITDA at INR 16110.000 million at record level (up 15 per cent
over Q3FY17)
- PAT at INR 3760.000 million (up 17 per cent over Q3FY17)
- Utkal Alumina PAT at INR 1180.000 million (vs. Loss of INR 550.000
million in Q3 FY17)
- Combined PAT for Hindalco and Utkal Alumina at INR 4940.000
million
- Novelis Net Income at USD121 million (up 92 per cent over Q3 FY17)
HIGHLIGHTS Q3 FY18
FINANCIAL PERFORMANCE
- Aluminium EBITDA for Q3FY18 was up by 7 per cent Y-o-Y at INR 9400.000 million on the back of supporting macros and higher volumes, despite increase in input costs.
- Copper EBITDA at INR 4210.000 million, up 28 per cent Y-o-Y on account of favourable macro and higher by-product realisation, partly offset by lower copper realisation due to oversupply in the domestic market.
- Utkal Alumina EBITDA stood at INR 2470.000 million up 73 per cent from INR 1430.000 million in Q3FY17.
- Novelis achieved all-time record EBITDA at USD305 million higher by 20 per cent Y-o-Y. Profitability driven by mix shifting towards auto, increasing volumes, recycled content and operating efficiencies.
FINANCIAL HIGHLIGHTS
(STANDALONE –
UNAUDITED)
|
(Figure in INR Million) |
|||||
|
Description |
Q3 FY17 |
Q2 FY18 |
Q3 FY18 |
9M FY17 |
9M FY18 |
|
Revenue from Operations |
99150.000 |
103080.000 |
110230.000 |
276360.000 |
317380.000 |
|
Earning Before Interest, Tax and Depreciation (EBITDA) |
|
|
|
|
|
|
Aluminium |
8760.000 |
9570.000 |
9400.000 |
25550.000 |
27720.000 |
|
Copper |
3300.000 |
4670.000 |
4210.000 |
9600.000 |
12100.000 |
|
Other Income |
1990.000 |
1530.000 |
2500.000 |
7340.000 |
6100.000 |
|
Total EBITDA |
14050.000 |
15770.000 |
16110.000 |
42490.000 |
45920.000 |
|
Depreciation |
3580.000 |
3800.000 |
3820.000 |
10480.000 |
11420.000 |
|
Finance Costs |
5880.000 |
4840.000 |
4830.000 |
17820.000 |
14540.000 |
|
Earnings before Exceptional Items and Tax |
4590.000 |
7130.000 |
7460.000 |
14190.000 |
19960.000 |
|
Exceptional Income/ (Expenses) (Net) |
- |
(1050.000) |
(1150.000) |
850.000 |
(3250.000) |
|
Profit Before Tax |
4590.000 |
6080.000 |
6310.000 |
15040.000 |
16710.000 |
|
Profit/ (Loss) After Tax |
3200.000 |
3930.000 |
3760.000 |
10540.000 |
10580.000 |
|
Earnings per Share (EPS) - Basic (In Rupees) |
1.56 |
1.76 |
1.69 |
5.14 |
4.75 |
|
Note: Post the applicability of GST with effect from 01 July 2017, Revenue is required to be disclosed net of GST as per requirement of Ind AS 18, ‘Revenue’. Accordingly, the Revenue figures for the quarter and nine months ended 31 December 2017 are not comparable with the previous periods. |
|||||
Standalone highlights
Hindalco achieved Revenues of INR 110230.000 million, higher as compared to Q3FY17, led by macro factors, volumes and by-product realisation. EBITDA (Earnings before Interest, Tax, Depreciation and Amortisation) for the quarter was INR 16110.000 million, up by 15 per cent compared to the previous year, driven by higher volumes in both businesses and supportive macros, partly offset by higher input costs. Depreciation rose by 7 per cent Y-o-Y, on account of progressive capitalisation. Interest expense for the quarter was lower by 18 per cent due to prepayment and re-pricing of long term loans. Net profit for Q3 FY18 was at INR 3760.000 million vs. INR 3200.000 million in the previous year, after considering a provision of INR 1150.000 million, based on a judgement of the Hon’ble Supreme Court on mining regulations.
Business highlights
Aluminium:
Revenue from Aluminium segment for Q3FY18 was up Y-o-Y at INR 53230.000
million, led by higher sales of Aluminium metal and increased realisation.
EBITDA for Q3 FY18 grew by 7 per cent Y-o-Y to INR 9400.000 million, on the back
of higher metal prices and volumes which mitigated the spiralling input costs.
Aluminium metal production was at 323 kilotonne and Alumina (including Utkal Alumina) at 734 kilotonne in Q3 FY18. VAP (including Wire Rod) production was at 123 kilotonne, up by 3 per cent vis-à-vis the previous year. Aditya, Mahan and Utkal plants continued to operate at their rated capacities.
Copper
Revenue from Copper segment increased Y-o-Y to INR 57010.000 million, driven by
higher volume and by-product realisation. EBITDA as compared to the previous
year soared by 28 per cent to INR 4210.000 million, consequent upon higher
Copper sales, by-product realisation and supportive macro factoINR
For Q3FY18, Copper Cathode production was 101 kilotonne, up by 8 per cent and CC Rod production at 38 kilotonne.
Utkal Alumina International Limited (UAIL):
The EBITDA for Q3FY18 surged by 73 per cent to INR 2470.000 million given
higher realisation due to higher international alumina prices. Profit After Tax
for Q3FY18 was INR 1180.000 million vs. loss of INR 550.000 million in Q3FY17.
UAIL continues to be amongst the lowest cost producers globally. During the quarter, UAIL produced 376 kilotonne of alumina.
Novelis Inc.:
Net sales increased 33 per cent Y-o-Y to USD3085 million which was supported by
the quarterly shipment of 796 kilotonne. Y-o-Y shipment growth is 6 per cent
which includes a 12 per cent increase in shipments of automotive products.
Adjusted EBITDA (excluding metal price lag) was at USD 305 million up by 20 per cent, over the previous year. Profitability was driven by mix shifting towards automotive, increasing volumes, recycled content and operating efficiencies. Consequently, its adjusted EBITDA per ton was the highest ever at USD 383.
Net Income was at USD121 million for Q3FY18, compared to USD63 million in the previous year.
Novelis has recently announced its plans to expand its production footprint in the US with an approximate USD300 million investment in automotive finishing capacity in Kentucky, US. Novelis also has agreed to acquire the operating facilities and manufacturing assets for Euro 200 million at its Sierre, Switzerland, plant that have historically been leased.
Performance across businesses continues to be robust. Stable operations and supportive macros remain the main drivers. Novelis has maintained its market leadership in can, auto segments as well as in recycling operations. Going forward, strong recovery of demand across businesses in India augurs well for Indian operations. In management view, key risks remain in the form of higher input costs and an oversupplied domestic market. Given the integrated nature of its business model, focus on customer centricity and new value added capacity, Hindalco is well placed to cater to the demand recovery. Post de-leveraging, Hindalco is now more focused on capacity expansion at Utkal Alumina, Copper Rod Mill and Novelis Auto.
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 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 64.37 |
|
|
1 |
INR 89.71 |
|
Euro |
1 |
INR 78.89 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.