|
|
|
MIRA INFORM REPORT
|
Report No. : |
492223 |
|
Report Date : |
15.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
UFLEX LIMITED (w.e.f. 19.07.2007) |
|
|
|
|
Formerly Known
As : |
FLEX INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
305, 3rd Floor, Bhanot Corner, Pamposh Enclave, Greater Kailash – I, New Delhi – 110048 |
|
Tel. No.: |
91-11-2644 0917 / 2644 0925 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
21.06.1988 |
|
|
|
|
Com. Reg. No.: |
55-032166 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 722.115 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L74899DL1988PLC032166 |
|
|
|
|
IEC No.: |
0589050796 |
|
|
|
|
TIN No.: |
09465800254 07090164498 |
|
|
|
|
GSTIN : |
09AAACF0109J1ZY |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF0109J |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges |
|
|
|
|
Line of Business
: |
Subject is engaged in the manufacture and sale of flexible packaging products and offer a complete flexible packaging solution to its customers across the globe. [Registered Activity] |
|
|
|
|
No. of Employees
: |
7541 (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 |
|
Maximum Credit Limit : |
USD 58300000 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject was incorporated in the year 1988. It is a manufacturer and exporter of packaging products. It offers polyester chips, films, coated film, laminates, pouches, holographic films gravure cylinders, inks, adhesives, etc. As per the quarterly financial records of December 2017, the company has achieved sales turnover of INR 9695.600 million and has reported an average net profit margin of 1.05%. For the financial year ended 2017, the company has achieved 2.26% growth in its revenue as compared to the previous year. It has reported net profit margin of 4.98%. Rating takes into consideration the company’s favorable Earnings Per Share (EPS) of INR 26.80 against its Face Value of (F.V) INR 10. The company possesses sound financial profile marked by healthy net worth base, satisfactory liquidity position and comfortable debt level. The company has an established position in the global and domestic BOPET (biaxially-oriented polyethylene terephthalate) films industry backed by its integrated nature of operations and established presence in downstream flexible packaging. The company has its share price trading at around INR 386.95 on BSE as on February 14, 2018 as against the Face Value (FV) of INR 10. Business is active. Payment seems to be regular and as per commitment. In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition. |
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 |
India Rating |
|
Rating |
Long Term Bank Facility = A- |
|
Rating Explanation |
Adequate degree of safety and low credit risk |
|
Date |
25.09.2017 |
|
|
|
|
Rating Agency Name |
India Rating |
|
Rating |
Short Term Bank Facility = A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk |
|
Date |
25.09.2017 |
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
31-03-2017.
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 15.02.2018
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 DENIED
Management non-cooperative: Tel No.: 91-120-4002121/ 4012345
Tel No.: 91-120-3982121 (Number is
Continuously Ringing)
LOCATIONS
|
Registered Office : |
305, 3rd Floor, Bhanot Corner, Pamposh Enclave, Greater Kailash – I, New Delhi - 110048, India |
|
Tel. No.: |
91-11-26440917/ 26440925 |
|
Fax No.: |
91-11-26216922 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
A-107-108, Sector IV, Noida – 201301, Uttar Pradesh, India |
|
Tel. No.: |
91-120-4012345 (30 Lines) |
|
Fax No.: |
91-120-2556040 |
|
|
|
|
Head Office : |
A-2, Sector-60, District Gautam Budh Nagar, Noida – 201307, Uttar
Pradesh, India |
|
|
|
|
Plant 1 : |
A-1, Sector-60, Noida, Uttar Pradesh, India |
|
|
|
|
Plant 2 : |
A-2, Sector-60, Noida, Uttar Pradesh, India |
|
|
|
|
Plant 3 : |
C-5-8, 17, 18, Sector 57, Noida, Uttar Pradesh, India |
|
|
|
|
Plant 4 : |
D-1-2, 15-16, Sector 59, Noida, Uttar Pradesh, India |
|
|
|
|
Plant 5 : |
L-1, Industrial Area, Ghirongi (Malanpur), District: Bhind, Madhya Pradesh, India |
|
|
|
|
Plant 6 : |
Unit-I, Lane No. 3, Phase-I, SIDCO Industrial Complex, Bari Brahmana, Jammu, India |
|
|
|
|
Plant 7 : |
Unit-II, Lane No. 2, Phase-I, SIDCO Industrial Complex, Bari Brahmana, Jammu, India |
|
|
|
|
Plant 8 : |
Unit-III, Lane No. 3, Phase-I, SIDCO Industrial Complex, Bari Brahmana, Jammu, India |
|
|
|
|
Overseas Plant 1 : |
Dubai, P.O. Box No. 17930, Near Round About 12, Jebel Ali Free Zone Area, Dubai United Arab Emirates |
|
|
|
|
Overseas Plant 2 : |
Mexico, Boulevard De Los Rios #5680 Zona Puerto Industrial, C.P. 89603 Altamira, Tamaulipas, Mexico |
|
|
|
|
Overseas Plant 3 : |
Egypt R 2 Plot No. 3, Engineering Square, North Extension of Industrial Zones 6th of October City, Arab Republic of Egypt |
|
|
|
|
Overseas Plant 4 : |
Poland 62-300 Wrzesnia, ul. Gen. Wladyslawa Sikorskiego 48, Poland |
|
|
|
|
Overseas Plant 5 : |
USA 1221, North Black Branch Road, Elizabethtown, Kentucky 42701, United States of America |
|
|
|
|
Zonal Office 1 : |
Unit No. 402, 4th Floor, Naman Center, Block-G, Bandra Kurla Complex, Plot No.C-31, Bandra, Mumbai-400051, Maharashtra, India |
|
|
|
|
Zonal Office 2 : |
A-16, FMC Fortuna, 234/3A (2nd Floor), Acharya Jagdish Chandra Bose Road, Kolkata - 700020, West Bengal, India |
|
|
|
|
Zonal Office 3 : |
443, 2nd Floor, 7th Block, Koramangala, Bangalore - 560095, Karnataka, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Madan Gopal Gupta |
|
Designation : |
Director |
|
Address : |
A-54, 1st Floor, Panchsheel Enclave, New Delhi – 110017, India |
|
Date of Birth/Age : |
02.03.1934 |
|
Date of Appointment : |
31.01.2002 |
|
DIN No.: |
023524 |
|
|
|
|
Name : |
Mr. Achintya Karati |
|
Designation : |
Director |
|
Address : |
29/203, East End Apartments, Mayur Vihar Phase - I Extension, Delhi - 110096, India |
|
Date of Birth/Age : |
23.03.1946 |
|
Date of Appointment : |
14.09.2000 |
|
DIN No.: |
00024412 |
|
|
|
|
Name : |
Mr. Ashok Kumar Chaturvedi |
|
Designation : |
Managing Director and Chairman |
|
Address : |
Shivpriya 3, Cedar Avenue, DLF, Chattarpur, New Delhi – 110030, India |
|
Date of Birth/Age : |
15.10.1956 |
|
Date of Appointment : |
21.06.1988 |
|
DIN No.: |
0023452 |
|
|
|
|
Name : |
Mr. Pradeep Narendranath Poddar |
|
Designation : |
Additional Director |
|
Address : |
Flat No.02, Mont Blanc, 22nd Floor August Kranti Marg, Opposite Kemps Corner, Mumbai – 400036, Maharashtra, India |
|
Date of Birth/Age : |
09.09.1954 |
|
Date of Appointment : |
30.05.2017 |
|
DIN No.: |
025199 |
|
Qualification : |
Chemical Engineering and PGDM (MBA) |
|
|
|
|
Name : |
Mr. Tara Sankar Sudhir Bhattacharya |
|
Designation : |
Director |
|
Address : |
8E, 8th Floor, Harbour Heights, Building No-B-I, Nasawant Marg, Colaba, Mumbai – 400005, Maharashtra, India |
|
Date of Birth/Age : |
24.01.1948 |
|
Date of Appointment : |
04.02.2015 |
|
DIN No.: |
157305 |
|
|
|
|
Name : |
Mr. Amitava Ray |
|
Designation : |
Wholetime Director |
|
Address : |
Bla-071, The Belaire, DLF City, DLF Phase-V, Gurugram - 122011 , Haryana, India |
|
Date of Birth/Age : |
30.10.1945 |
|
Date of Appointment : |
02.02.2016 |
|
DIN No.: |
184143 |
|
Qualification : |
PGDM , Graduate in Economics and Mathematics |
|
|
|
|
Name : |
Mr. Arvind Mahajan |
|
Designation : |
Additional Director |
|
Address : |
V-12/18 DLF, Phase-III, Gurugram – 122002, Haryana, India |
|
Date of Birth/Age : |
24.12.1947 |
|
Date of Appointment : |
03.08.2016 |
|
|
|
|
Name : |
Mr. Anish Babu Venugopal |
|
Designation : |
Nominee Director |
|
Address : |
Flat No. 2/2, Shreeji Appartments, Opposite Azad Society, Ambawadi, Ahmedabad - 380015, Gujarat, India |
|
Date of Birth/Age : |
28.12.1978 |
|
Date of Appointment : |
16.05.2017 |
|
DIN No.: |
2830575 |
|
|
|
|
Name : |
Mrs. Indu Liberhan |
|
Designation : |
Director |
|
Address : |
161, Jorbagh, New Delhi – 110003, India |
|
Date of Birth/Age : |
28.05.1950 |
|
Date of Appointment : |
28.05.2015 |
|
DIN No.: |
3341420 |
KEY EXECUTIVES
|
Name : |
Mr. Ravinder Kumar Jain |
|
Designation : |
Chief Finance Officer |
|
Address : |
W-115, 2nd Floor, Greater Kailash Part II – 110048, Delhi, India |
|
Date of Appointment : |
30.05.2014 |
|
PAN No.: |
AAHPJ4365N |
|
|
|
|
Name : |
Mr. Ajay Krishna |
|
Designation : |
Company Secretary and Senior Voice President |
|
Address : |
C-115, Sector-26, Noida – 201301, Uttar Pradesh, India |
|
Date of Appointment : |
27.09.2004 |
|
PAN No.: |
AAIPK8952D |
|
|
|
|
Name : |
Mr. Rajesh Bhatia |
|
Designation : |
Chief Finance Officer |
|
Address : |
D/26, 2nd Floor, Greater Kailash Enclave – I, Delhi – 110048, India |
|
Date of Appointment : |
01.09.2017 |
|
PAN No.: |
AANPB2420Q |
MAJOR SHAREHOLDERS
As on 31.12.2017
|
Category
of shareholder |
Total
nos. shares held |
Shareholding
as a % of total no. of shares (calculated as per SCRR, 1957)As a % of |
|
|
(A) Promoter & Promoter
Group |
31784339 |
44.02 |
|
|
(B) Public |
40427147 |
55.98 |
|
|
Grand Total |
72211486 |
100.00 |
STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PROMOTER AND
PROMOTER GROUP
|
Category of shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares
(calculated as per SCRR, 1957)As a % of |
|
|
A1) Indian |
|
|
|
|
Individuals/Hindu
undivided Family |
2321729 |
3.22 |
|
|
Ashok Chaturvedi |
502533 |
0.70 |
|
|
Rashmi Chaturvedi |
125145 |
0.17 |
|
|
Ashok Kumar Chaturvedi (Karta) |
1694051 |
2.35 |
|
|
Any
Other (specify) |
29462610 |
40.80 |
|
|
Flex International Private
Limited |
9197577 |
12.74 |
|
|
Anshika Investments Private
Limited |
5771092 |
7.99 |
|
|
A.R.Leasing Private Limited |
4994891 |
6.92 |
|
|
Apoorva Extrusion Private
Limited |
4323162 |
5.99 |
|
|
Anshika Consultants Private
Limited |
3778524 |
5.23 |
|
|
Anant Overseas Private Limited |
1000000 |
1.38 |
|
|
Magic Consultants Private
Limited |
41878 |
0.06 |
|
|
A.L. Consultants Private
Limited |
355486 |
0.49 |
|
|
Sub
Total A1 |
31784339 |
44.02 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
31784339 |
44.02 |
STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PUBLIC
SHAREHOLDER
|
Category & Name
of the Shareholders |
Total no. shares
held |
Shareholding % calculated
as per SCRR, 1957 As a % of |
|
|
B1) Institutions |
0.00 |
||
|
Mutual Funds/ |
217076 |
0.30 |
|
|
Foreign Portfolio Investors |
8958657 |
12.41 |
|
|
OLD MUTUAL GLOBAL INVESTORS SERIES PUBLIC LIMITED COMPANY |
893447 |
1.24 |
|
|
Financial Institutions/ Banks |
1171657 |
1.62 |
|
|
LIFE INSURANCE CORPORATION OF INDIA |
1083805 |
1.50 |
|
|
Any Other (specify) |
65590 |
0.09 |
|
|
Foreign Institutional Investors |
65590 |
0.09 |
|
|
Sub Total B1 |
10412980 |
14.42 |
|
|
B2) Central Government/ State Government(s)/ President of India |
0.00 |
||
|
B3) Non-Institutions |
0.00 |
||
|
Individual share capital upto Rs. 2 Lacs |
8923511 |
12.36 |
|
|
Individual share capital in excess of Rs. 2 Lacs |
5019249 |
6.95 |
|
|
Any Other (specify) |
16071407 |
22.26 |
|
|
Bodies Corporate |
6987283 |
9.68 |
|
|
Montage Enterprises Private Limited |
2426944 |
3.36 |
|
|
IL AND FS Trust Co Ltd |
1054083 |
1.46 |
|
|
NRI – Repat |
3422700 |
4.74 |
|
|
Ricky Ishwardas Kirpalani |
1272152 |
1.76 |
|
|
Keswani Haresh |
1551960 |
2.15 |
|
|
NRI – Non- Repat |
105803 |
0.15 |
|
|
Foreign Bodies Corporate |
5465840 |
7.57 |
|
|
Kebale Trading Limited |
5465840 |
7.57 |
|
|
Trusts |
50733 |
0.07 |
|
|
Clearing Members |
39048 |
0.05 |
|
|
Sub Total B3 |
30014167 |
41.56 |
|
|
B=B1+B2+B3 |
40427147 |
55.98 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacture and sale of flexible packaging products and offer a complete flexible packaging solution to its customers across the globe. [Registered Activity] |
||||||
|
|
|
||||||
|
Products / Services
: |
|
||||||
|
|
|
||||||
|
Brand Names : |
Not Available |
||||||
|
|
|
||||||
|
Agencies Held : |
Not Available |
||||||
|
|
|
||||||
|
Exports : |
Not Divulged |
||||||
|
|
|
||||||
|
Imports : |
Not Divulged |
||||||
|
|
|
||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
No. of Employees : |
7541 (Approximately) |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Statutory Auditors : |
|
|
Name : |
Vijay Sehgal and Company Chartered Accountants |
|
Address : |
100, New Rajdhani Enclave, Delhi - 110 092, India |
|
Tel. No.: |
91-11-32906809 |
|
Fax No.: |
91-11-22025054 |
|
E-Mail : |
|
|
Internal Auditors : |
|
|
Name : |
Jain Singhal and Associates Chartered Accountants |
|
Address : |
2nd Floor, M - 6, M Block Market, Greater Kailash - II, New Delhi – 110048, India |
|
|
|
|
Cost Auditors : |
|
|
Name : |
Jitender, Navneet and Company Cost Accountants |
|
Address : |
2-D, OCS Apartments, Mayur Vihar, Phase-I, Delhi - 110091, India |
|
|
|
|
Secretarial
Auditors : |
|
|
Name : |
Mahesh Gupta and Company Chartered Accountants |
|
Address : |
110, Wadhwa Complex, D 288/10, Laxmi Nagar, Delhi-110092, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiaries : |
|
|
|
|
|
Associates : |
|
|
|
|
|
Enterprises in
which the persons referred in (iv) along with their relatives exercise
significant influence : |
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000000 |
Equity Shares |
INR 10/- each |
INR 1500.000 Million |
|
19000000 |
Preference Share |
INR 100/- each |
INR 1900.000 Million |
|
TOTAL |
INR
3400.000Million |
||
Issued, Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
72284187 |
Equity Shares |
INR 10/- each |
INR 722.842 Million |
|
|
|
|
|
Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
72211486 |
Equity Shares |
INR 10/- each |
INR 722.115 Million |
|
|
|
|
|
NOTES ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2017
The Company’s Paid-up Capital of 72211486
(previous Year Same) Equity Shares of INR 10/- each, is
Distributed as under:
|
Promoter & Promoyer Group of which Shareholders holding
More than 5 % of the Paid-up
Capital |
As at 31st March 2017 |
|
|
Number |
Percentage |
|
|
31784339 |
44.02 |
|
|
Flex International Private Limited |
9197577 |
12.74 |
|
Anshika Investments Private Limited |
5771092 |
7.99 |
|
A.R. Leasing Private Limited |
4994891 |
6.92 |
|
Anshika Consultants Private Limited |
3778524 |
5.23 |
|
Apoorva Extrusion Private Limited |
4323162 |
5.99 |
|
b) Public Shareholding
|
40427147 |
55.98 |
|
8137968 |
11.27 |
|
32289179 |
44.71 |
|
- |
- |
|
of which
Shareholder holding More than 5 % of the Paid-up Capital |
|
|
|
Kebale Trading Limited |
5465840 |
7.57 |
C) Restriction on Voting
Rights
The company has only one class of issued equity share capital as on the date of the balance sheet and each holder of equity share is entitled for one vote per share and right to receive the dividend, if any, declared on the equity shares.
d) Dividend
The Board of Directors of
the company has recommended a final dividend of INR 3.50 (Previous Year INR
3.20) per share share aggregating to INR 304.192 million (Previous Year INR
278.119 million) (Including the dividend distribution tax of INR 51.452 million
(Previous Year INR 47.042 million) for the financial year ended 31st March 2017
subject to the approval of the shareholder in their ensuing annual general
meeting.
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 |
722.115 |
722.115 |
722.115 |
|
(b) Reserves & Surplus |
19695.838 |
17952.965 |
16125.536 |
|
(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 |
20417.953 |
18675.080 |
16847.651 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
7185.191 |
5553.796 |
3448.521 |
|
(b) Deferred tax liabilities (Net) |
648.635 |
995.435 |
1063.785 |
|
(c) Other long term
liabilities |
81.808 |
60.912 |
32.069 |
|
(d) long-term
provisions |
115.285 |
92.901 |
107.410 |
|
Total Non-current
Liabilities |
8030.919 |
6703.044 |
4651.785 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
3978.363 |
2245.733 |
2928.770 |
|
(b) Trade
payables |
5494.510 |
5053.566 |
4657.326 |
|
(c) Other
current liabilities |
2536.107 |
2530.560 |
2916.349 |
|
(d) Short-term
provisions |
95.239 |
82.833 |
123.310 |
|
(e) Current Tax Liabilities (Net) |
250.209 |
280.327 |
247.495 |
|
Total Current
Liabilities |
12354.428 |
10193.019 |
10873.250 |
|
|
|
|
|
|
TOTAL |
40803.300 |
35571.143 |
32372.686 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
14623.795 |
13152.111 |
12745.621 |
|
(ii) Intangible
Assets |
295.801 |
130.930 |
72.197 |
|
(iii)
Capital work-in-progress |
4791.909 |
2144.445 |
239.971 |
|
(iv) Intangible assets under development |
10.818 |
42.688 |
23.657 |
|
(b) Non-current Investments |
4084.194 |
4109.635 |
3990.492 |
|
(c)
Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
204.212 |
1151.995 |
1088.649 |
|
(e) Other
Non-current assets |
945.036 |
1183.618 |
801.649 |
|
Total Non-Current
Assets |
24955.765 |
21915.422 |
18962.236 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
3251.522 |
2717.061 |
2887.761 |
|
(c) Trade
receivables |
9990.162 |
7830.020 |
7818.873 |
|
(d) Cash
and cash equivalents |
1216.985 |
1892.892 |
721.977 |
|
(e)
Short-term loans and advances |
213.569 |
0.098 |
424.018 |
|
(f) Other
current assets |
1175.297 |
1215.650 |
1557.821 |
|
Total
Current Assets |
15847.535 |
13655.721 |
13410.450 |
|
|
|
|
|
|
TOTAL |
40803.300 |
35571.143 |
32372.686 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
38874.830 |
38013.588 |
33271.679 |
|
|
Other Income |
171.050 |
378.237 |
612.939 |
|
|
TOTAL |
39045.880 |
38391.825 |
33884.618 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
21141.126 |
20177.619 |
21320.106 |
|
|
Purchases of Stock-in-Trade |
192.107 |
1257.857 |
411.049 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
(228.058) |
(16.222) |
(117.964) |
|
|
Employees benefits expense |
3513.802 |
3108.376 |
2557.564 |
|
|
Other expenses |
9601.867 |
8977.630 |
5507.777 |
|
|
Expenses Allocated to Self Constructed
Assets |
(279.055) |
(221.846) |
(153.542) |
|
|
TOTAL |
33941.789 |
33283.414 |
29524.990 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
5104.091 |
5108.411 |
4359.628 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1187.770 |
1078.300 |
1164.610 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
3916.321 |
4030.111 |
3195.018 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
1876.797 |
1669.887 |
1639.448 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
2039.524 |
2360.224 |
1555.570 |
|
|
|
|
|
|
|
Less |
TAX |
104.027 |
343.650 |
135.744 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
1935.497 |
2016.574 |
1419.826 |
|
|
|
|
|
|
|
|
F.O.B. Value of Exports |
57.039 |
52.455 |
5124.285 |
|
|
|
|
|
|
|
|
CIF Value of Imports |
76.755 |
63.462 |
7213.949 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
26.80 |
27.93 |
19.66 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
1217.632 |
1464.915 |
1565.369 |
|
Cash generated from operations |
2846.467 |
5055.155 |
2012.318 |
|
Net cash flows from (used in) operating activity |
2507.481 |
4662.539 |
1668.223 |
QUARTERLY
RESULTS
|
PARTICULARS |
30.06.2017 Unaudited |
30.09.2017 Unaudited |
31.12.2017 Unaudited |
|
Unaudited |
|
|
|
|
Net Sales |
10170.300 |
9942.800 |
9695.600 |
|
Total Expenditure |
8943.900 |
8759.200 |
8597.700 |
|
PBIDT (Excl OI) |
1226.400 |
1183.600 |
1097.900 |
|
Other Income |
55.500 |
55.700 |
29.400 |
|
Operating Profit |
1281.900 |
1239.300 |
1127.300 |
|
Interest |
310.700 |
298.800 |
432.300 |
|
Exceptional Items |
NA |
NA |
0.000 |
|
PBDT |
971.200 |
940.500 |
695.000 |
|
Depreciation |
507.200 |
520.400 |
586.100 |
|
Profit Before Tax |
464.000 |
420.100 |
108.900 |
|
Tax |
40.800 |
50.000 |
6.700 |
|
Provisions and contingencies |
NA |
NA |
NA |
|
Profit After Tax |
423.200 |
370.100 |
102.200 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
423.200 |
370.100 |
102.200 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
11.43 |
18.18 |
7.92 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
31.94 |
20.08 |
46.08 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
94.01 |
86.05 |
78.23 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.51 |
0.65 |
0.56 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.26 |
0.33 |
0.33 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.48 |
0.44 |
0.44 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.55 |
0.42 |
0.38 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.61 |
0.55 |
0.65 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.97 |
0.83 |
0.78 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
4.30 |
4.74 |
3.74 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
4.98 |
5.30 |
4.27 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
4.74 |
5.67 |
4.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
9.48 |
10.80 |
8.43 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.28 |
1.34 |
1.23 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.02 |
1.07 |
0.97 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.50 |
0.53 |
0.52 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.61 |
0.50 |
0.47 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.28 |
1.34 |
1.23 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 10.00/- |
|
Market Value |
INR 480.75/- |
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
in Million) |
(INR
in Million) |
(INR
in Million) |
|
Share Capital |
722.115 |
722.115 |
722.115 |
|
Reserves & Surplus |
16125.536 |
17952.965 |
19695.838 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
16847.651 |
18675.080 |
20417.953 |
|
|
|
|
|
|
long-term borrowings |
3448.521 |
5553.796 |
7185.191 |
|
Short term borrowings |
2928.770 |
2245.733 |
3978.363 |
|
Current maturities of
long-term debts |
1565.369 |
1464.915 |
1217.632 |
|
Total
borrowings |
7942.660 |
9264.444 |
12381.186 |
|
Debt/Equity
ratio |
0.471 |
0.496 |
0.606 |
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 |
33271.679 |
38013.588 |
38874.830 |
|
|
|
14.252 |
2.266 |
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 |
33271.679 |
38013.588 |
38874.830 |
|
Profit |
1419.826 |
2016.574 |
1935.497 |
|
|
4.27% |
5.30% |
4.98% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES
OF FUNDS |
31.03.2017 |
31.03.2016 |
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
(1)Shareholders' Funds |
|
|
|
(a) Share Capital |
36440.701 |
34516.749 |
|
(b) Reserves & Surplus |
0.000 |
0.000 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
|
Total
Shareholders’ Funds |
36440.701 |
34516.749 |
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
(a) long-term borrowings |
10297.740 |
10542.682 |
|
(b) Deferred tax liabilities
(Net) |
1264.618 |
1493.153 |
|
(c) Other long term
liabilities |
81.808 |
60.912 |
|
(d) long-term provisions |
116.708 |
92.901 |
|
Total
Non-current Liabilities |
11760.874 |
12189.648 |
|
|
|
|
|
(4) Current Liabilities |
|
|
|
(a) Short term borrowings |
7516.529 |
7142.629 |
|
(b) Trade payables |
9572.988 |
7824.023 |
|
(c) Other current liabilities |
5650.580 |
5920.083 |
|
(d) Short-term provisions |
191.157 |
149.782 |
|
(e) Current Tax Liabilities (Net) |
351.503 |
297.965 |
|
Total
Current Liabilities |
23282.757 |
21334.482 |
|
|
|
|
|
TOTAL |
71484.332 |
68040.879 |
|
|
|
|
|
II.
ASSETS |
|
|
|
(1) Non-current assets |
|
|
|
(a) Fixed Assets |
|
|
|
(i) Tangible assets |
33458.841 |
32768.647 |
|
(ii) Intangible Assets |
484.838 |
135.037 |
|
(iii) Capital work-in-progress |
4969.994 |
2244.592 |
|
(iv) Intangible assets under
development |
10.818 |
42.688 |
|
(b) Non-current Investments |
431.852 |
488.404 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
857.424 |
1550.733 |
|
(e) Other Non-current assets |
1244.007 |
1640.094 |
|
Total
Non-Current Assets |
41457.774 |
38870.195 |
|
|
|
|
|
(2) Current assets |
|
|
|
(a) Current investments |
0.000 |
0.000 |
|
(b) Inventories |
6786.168 |
6208.267 |
|
(c) Trade receivables |
16590.477 |
14801.941 |
|
(d) Cash and cash equivalents |
2963.049 |
3879.217 |
|
(e) Short-term loans and
advances |
2.761 |
0.098 |
|
(f) Other current assets |
3684.103 |
4281.161 |
|
Total
Current Assets |
30026.558 |
29170.684 |
|
|
|
|
|
TOTAL |
71484.332 |
68040.879 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
Income |
65047.841 |
63655.175 |
|
|
Other Income |
205.049 |
349.219 |
|
|
Share in profit of Associates for the year |
40.681 |
36.746 |
|
|
TOTAL |
65293.571 |
64041.140 |
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
Cost of Materials Consumed |
34929.471 |
34121.792 |
|
|
Purchases of Stock-in-Trade |
751.556 |
1705.826 |
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(140.824) |
(336.806) |
|
|
Employees benefits expense |
5473.933 |
4961.228 |
|
|
Other expenses |
15644.411 |
15379.277 |
|
|
Expenses Allocated to Self Constructed Assets |
(353.641) |
(221.846) |
|
|
TOTAL |
56304.906 |
55609.471 |
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
8988.665 |
8431.669 |
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
1868.164 |
1758.398 |
|
|
|
|
|
|
|
Profit / (Loss) Before Tax, Depreciation And Amortization |
7120.501 |
6673.271 |
|
|
|
|
|
|
Less |
DEPRECIATION/ AMORTISATION |
3175.391 |
2855.373 |
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
3945.110 |
3817.898 |
|
|
|
|
|
|
Less |
TAX |
437.607 |
648.509 |
|
|
|
|
|
|
|
Profit for the year before Minority Interest |
3507.503 |
3169.389 |
|
|
|
|
|
|
Less |
Non Controlling Interest |
(22.947) |
(31.018) |
|
|
|
|
|
|
Add |
PROFIT/ (LOSS)
AFTER TAX |
3484.556 |
3138.371 |
|
|
|
|
|
|
|
Earnings / (Loss) Per Share (INR) |
48.25 |
43.46 |
LEGAL
CASE
|
$~14 * IN THE HIGH COURT OF DELHI AT NEW DELHI + RFA 941/2017 MYCO ELECTICALS (P) LTD ..... Appellant Through: Mr. Gourav Duggal, Advocate. versus UFLEX LIMITED ..... Respondent Through CORAM: HON'BLE MR. JUSTICE VALMIKI J. MEHTA O R D E R % 10.11.2017 C.M. Nos.40460-61/2017 (exemption) 1. Exemption allowed subject to just exceptions. C.M.s stand disposed of. +RFA No.941/2017 2. Notice be issued to the respondent, on filing of process fee, both in the ordinary method as well as by registered post AD, returnable on 9 th April, 2018.
VALMIKI J. MEHTA, J NOVEMBER 10, 2017 Ne |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of establishment |
Yes |
|
2] |
Constitution of the entity Incorporation
details |
Yes |
|
3] |
Locality of the entity |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Buyer visit details |
No |
|
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 |
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 |
No |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
Yes |
|
21] |
Banking facility details |
No |
|
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 |
-- |
|
26] |
Turnover of firm for last three years |
Yes |
|
27] |
Reasons for variation <> 20% |
No |
|
28] |
Estimation for coming financial year |
Yes |
|
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 OVERVIEW
The Company is a
public limited company, domiciled in India and registered with the ROC, Delhi
& Haryana under the Registration number 55-32166 dated 21st June 1988. Old
Registration number has been converted into new Corporate Identification number
(CIN) L74899DL1988PLC032166
Registered office
of the Company is situated at 305, 3rd Floor, Bhanot Corner, Pamposh Enclave,
Greater Kailash-I, New Delhi - 110 048 and Corporate Office at A-108-109,
Sector-4, Noida, Uttar Pradesh-201301.
The Company is a
leading Indian Multinational, engaged in the manufacture and sale of flexible
packaging products & offers a complete flexible packaging solution to its
customers across the globe.
FUTURE OUTLOOK
According to
Smithers Pira, the global market for flexible packaging is forecast to grow at
an annual average rate of 3.4% during the period 2015-2020, reaching $248
billion. The major growth engines shall be the Asia-Pacific (APAC) countries.
Substitutions of
Traditional packaging and Retail Chains are the most important drivers for the
market growth. The real opportunity lies in developing nations or emerging
economies.
The players in the
flexible packaging industry worldwide are coming up with more and more
innovative and effective flexible packaging products. Flexible packaging
designs such as zippers, pouring spouts, peel-off lids, and microwavable pouches
provide consumers with convenience in accessing and disposing the products like
never before. Such packaging designs are being increasingly improvised to meet
the growing consumer demand for food and beverage products offering higher
convenience and portability. Many packaging companies/ convertors are planning
to devise innovative products to match ever evolving brand expectations. A lot
of emphasis is being paid on intelligent packaging. Most of the convertors are
focused on inventing new packaging designs or attempting to revamp existing
packaging to be able to offer better value proposition to the brands.
Flexible packaging
inherently is highly adaptable. The clever and solution driven designs that the
packaging companies are coming up with further drives the sustainability
quotient of the products which they pack. Flexible packaging helps in
minimizing wastage of goods/products by offering appropriate portion sizes and
re-closable options.
Uflex Limited being
a fully integrated end-to end flexible packaging materials and Solution
Company, the window of opportunity is promisingly big. Innovation to create
value added differentiation; ability to execute any quantum of order ;ensuring
just in time delivery anywhere in the globe and an enviable speed to market
reach to reap the first mover advantage puts the company in a good stead to
double up its top-line in the next 3-4 years.
FINANCIAL RESULTS
During
the year, the company has achieved standalone total income and net profit of
INR 39045.880 Million and INR 1935.497 Million respectively as against total
income and net profit of INR 38391.825 Million and INR 2016.574 Million
respectively during the previous financial year ended 31st March,
2016.
Further,
the company has achieved consolidated total income of INR 65293.600 Million and
net profit of INR 3484.556 Million as against total income of INR 64041.100
Million and net profit of INR 3138.371 Million during the previous financial
year ended 31st March, 2016.
UNSECURED LOAN
|
Particulars |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
From Banks |
256.820 |
124.501 |
|
From Others |
1248.800 |
240.504 |
|
From related Parties |
263.000 |
0.000 |
|
From Working Capital Facilities from Banks |
2089.743 |
1755.728 |
|
From Bodies Corporate |
120.000 |
125.000 |
|
Total |
3978.363 |
2245.733 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
G41018672 |
100089670 |
The South Indian Bank Limited |
17/03/2017 |
- |
500000000.0 |
New Delhi Corporate Branch, A - 301, III Floor, Satesman House- 148, Barakhamba Road, Connaught Place, New Delhi – 110001, Delhi, India |
|
2 |
G28472421 |
100063935 |
Toyota Financial Services India Limited |
21/10/2016 |
- |
10094700.0 |
No. 21 Centro polis, First Floor, 5th Cross Langford Road, Shanti Nagar, Bangalore - 560025. Karnataka, India |
|
3 |
G05368071 |
100031821 |
State Bank of Travancore |
16/05/2016 |
- |
500000000.0 |
Commercial Branch New Delhi – 110001, Delhi, India |
|
4 |
G39825492 |
100028031 |
Oriental Bank of Commerce |
22/04/2016 |
17/03/2017 |
500000000.0 |
B - 31, Sector – 62 Institutional Area, Noida – 201301, Uttar Pradesh, India |
|
5 |
G39698717 |
100019103 |
State Bank of India |
10/03/2016 |
17/03/2017 |
1500000000.0 |
Overseas Branch (04803) Jawahar Vyapar Bhawan - 1 Tolstoy Marg, New Delhi – 110001, Delhi, India |
|
6 |
G39699301 |
10626564 |
IFCI Limited |
08/03/2016 |
17/03/2017 |
1500000000.0 |
IFCI Tower 61, Nehru Place New Delhi - 110019, Delhi, India |
|
7 |
C78032711 |
10618047 |
The Jammu and Kashmir Bank Limited |
14/12/2015 |
- |
23900000.0 |
P-2, JOP Plaza Sector - 18, Noida – 201301, Uttar Pradesh, India |
|
8 |
G20502514 |
10602236 |
State Bank of India |
31/10/2015 |
27/10/2016 |
2500000000.0 |
Overseas Branch, 9th Floor, Jawahar Vyapar Bhawan 1 Tolstoy Marg, New Delhi - 110001, Delhi, India |
|
9 |
C36819639 |
10536349 |
The Jammu and Kashmir Bank Limited |
08/08/2014 |
- |
13800000.0 |
P-2, JOP Plaza Sector - 18, Noida – 201301, Uttar Pradesh, India |
|
10 |
C07265069 |
10504071 |
Canara Bank |
24/05/2014 |
- |
1516500000.0 |
PCB Connaught Place New Delhi – 110001, Delhi, India |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
A i) Show cause
notice / demands of Excise Authorities in respect of Excise Duty &
Service Tax not acknowledged by the Company and are contested / appealed /
replied. |
648.199 |
724.578 |
|
ii) Additional demands raised by the Income Tax Department, which are
under rectification & appeal |
423.587 |
272.753 |
|
iii) Additional demands raised by the Sales Tax Department, which are
under rectification & appeal |
153.519 |
243.356 |
|
iv) Demand raised by PF authority for alleged lower contribution of PF
and is under appeal |
2.773 |
2.773 |
|
v) Amount demanded by the erstwhile workers of the Company and are
pending in labor Court |
1.282 |
1.232 |
|
vi) Claims against the Company/disputed liabilities not acknowledged
as debt |
12.700 |
14.672 |
|
vii) Demand raised by the Concerned Development corporation on
surrender of unutilized Industrial Leasehold Land. |
6.269 |
6.269 |
|
B i) Guarantees
issued by Banks |
386.167 |
152.586 |
|
ii) Corporate Guarantees issued for facilities taken by foreign
subsidiaries / step down subsidiaries from Banks |
17273.260 |
18117.540 |
|
iii) Import duty obligations on outstanding export commitment under
Advance License / EPCG Schemes |
1179.617 |
488.736 |
|
iv) Letters of Credit (Unexpired) issued by Banks (Net of Margin) |
715.762 |
926.362 |
|
C. Liability in
respect of Bonus for the FY 2014-15 arising due to retrospective amendment in
the Payment of Bonus (Amendment) Act 2015; which is contested by the Company. |
42.985 |
42.985 |
|
Total |
20877.3517 |
21025.0736 |
STATEMENT OF STANDALONE UNAUDITED FINANCIAL
RESULTS FOR THE NINE MONTHS ENDED 31.12.2017
(INR
In Million)
|
PARTICULARS |
QUARTER
ENDED |
QUARTER
ENDED |
NINE
MONTHS ENDED |
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
Unaudited |
Unaudited |
|
|
|
REVENUE FROM OPERATIONS |
|
|
|
|
Sale of product |
9695.600 |
9006.900 |
28872.800 |
|
Other Operating Income |
29.400 |
55.700 |
140.600 |
|
Total come from Operations |
9725.000 |
9062.600 |
29013.400 |
|
EXPENSES |
|
|
|
|
Cost of materials consumed |
6090.200 |
5531.400 |
17361.900 |
|
Purchase of Stock in Trade |
66.700 |
8.500 |
187.200 |
|
Changes in inventories of finished goods and
work-in-progress |
(57.600) |
21.600 |
(258.000) |
|
Excise duty on sale of goods |
0.000 |
5.600 |
906.400 |
|
Power & Fuel |
419.300 |
399.700 |
1257.900 |
|
Employee benefits expense |
994.400 |
919.400 |
2867.400 |
|
Finance Costs |
432.300 |
298.800 |
1041.800 |
|
Depreciation and Amortization expenses |
586.100 |
520.400 |
1613.700 |
|
Other Expenses |
1084.700 |
937.100 |
3042.100 |
|
Total Expenses |
9616.100 |
8642.500 |
28020.400 |
|
Profit / (Loss) Before Exceptional Items |
108.900 |
420.100 |
993.000 |
|
Exceptional Items |
|
- |
- |
|
Profit / (Loss) before Tax |
108.900 |
420.100 |
993.000 |
|
Tax Expense |
6.700 |
50.000 |
97.500 |
|
Profit / (Loss) after Tax |
102.200 |
370.100 |
895.500 |
|
Other comprehensive income/expenses |
|
|
|
|
Items that will not be reclassified to profit and loss |
85.600 |
30.600 |
130.700 |
|
Items that will be reclassified to profit and loss |
|
- |
- |
|
Total Other comprehensive income
for the period |
85.600 |
30.600 |
130.700 |
|
Total comprehensive income for the period |
187.800 |
400.700 |
1026.200 |
|
Paid-up equity share capital (INR 10 each fully paid up) |
722.100 |
722.100 |
722.100 |
|
Basic
EPS |
1.42 |
5.13 |
12.4 |
|
Diluted
EPS |
1.42 |
5.13 |
12.4 |
STATEMENT OF
STANDALONE UNAUDITED SEGMENT FOR THE NINE MONTHS ENDED 31.12.2017
(INR
In Million)
|
Particulars |
QUARTER
ENDED |
Nine
Months |
|
|
31.12.2017 |
30.09.2017 |
Ended
31.12.2017 |
|
|
Unaudited |
Unaudited |
|
|
|
|
|
|
Unaudited |
|
1.
Segment Revenue |
|
|
|
|
Flexible Packaging Activities |
8861.900 |
8454.300 |
26827.000 |
|
Engineering Activities |
1010.400 |
696.200 |
2509.100 |
|
Others (Unallocable) |
19.600 |
(8.300) |
17.400 |
|
Total |
9891.900 |
9142.200 |
29353.500 |
|
Less : Inter Segment Revenue |
196.300 |
135.300 |
480.700 |
|
Income from operations |
9695.600 |
9006.900 |
28872.800 |
|
|
|
|
|
|
2.
Segment Result |
|
|
|
|
Profit
/ (Loss) before taxation and Finance Costs for each segment |
|
|
|
|
Flexible Packaging Activities |
607.600 |
842.100 |
2352.900 |
|
Engineering Activities |
249.900 |
106.100 |
483.600 |
|
Others (Unallocable) |
(345.700) |
(285.000) |
(942.300) |
|
Total |
511.800 |
663.200 |
1894.200 |
|
Less : i) Interest |
432.300 |
298.800 |
1041.800 |
|
Il)
Other un-allocable expenses net of income |
29.400 |
55.700 |
140.600 |
|
Total Profit / (Loss) before tax |
108.900 |
420.100 |
993.000 |
|
|
|
|
|
|
Segment
Assets |
|
|
|
|
Flexible Packaging Activities |
33339.900 |
32232.600 |
33339.900 |
|
Engineering Activities |
4530.700 |
4190.200 |
4530.700 |
|
Others (Unallocable) |
5888.400 |
5719.200 |
5888.400 |
|
Total
segment Assets |
43759.000 |
42142.000 |
43759.000 |
|
|
|
|
|
|
Segment
Liabilities |
|
|
|
|
Flexible Packaging Activities |
5914.100 |
5822.500 |
5914.100 |
|
Engineering Activities |
4037.400 |
3949.500 |
4037.400 |
|
Others (Unallocable) |
12667.600 |
11417.900 |
12667.600 |
|
Total Segment Liabilities |
22619.100 |
21189.900 |
22619.100 |
|
|
|
|
|
|
Segment Capital Employed |
|
|
|
|
Flexible Packaging Activities |
27425.800 |
26410.100 |
27425.800 |
|
Engineering Activities |
493.300 |
240.700 |
493.300 |
|
Others (Unallocable) |
(6779.200) |
(5698.700) |
(6779.200) |
|
Total |
21139.900 |
20952.100 |
21139.900 |
Notes:
1. Consolidated financial results includes the results of its associates concerns and subsidiaries.
2. During the Quarter, the Accpetic Liquid Packaging project at Sanand, Gujarat has been commissioned.
3. Figures have been regrouped / re-arranged wherever considered necessary.
4. The above results have been approved and taken on record by the Board of Directors of the Company at their meeting held on 11th November, 2017.
5. Limited
Review of the Standalone & Consolidated Financial Results for the quarter
ended 30th June, 2017 has been carried out by the Statutory Auditors of the
Company.
FIXED ASSETS
- Land
- Building
- Furniture and
Fixture
- Plant and
Machinery
- Electrical
Installations
- Office
Equipment
- Vehicles
PRESS RELEASE
CHEMICALS BUSINESS OF UFLEX BECOMES INDIA’S FIRST NABL ACCREDITED
ENTITY IN THE FIELD OF COMBINED MANUFACTURING OF PACKAGING INKS AND LAMINATION ADHESIVES
Tuesday, November 28, 2017
Business of Uflex Limited has become India’s First NABL accredited entity in the field of combined manufacturing of Packaging Inks and Lamination Adhesives. National Accreditation Board for Testing and Calibration Laboratories (NABL) is a Constituent Board of Quality Council of India. NABL has been established with the objective of providing Government, Industry Associations and Industry in general with a scheme of Conformity Assessment Body’s accreditation which involves third-party assessment of the technical competence of testing including medical and calibration laboratories, proficiency testing providers and reference material producers.
Chemicals Business of Uflex that recently made to the TOP 25 Club of International Companies on the basis of global ink sales (ref. Ink World; August 2017) enjoys an irreproachable reputation as a manufacturer of world class quality inks, adhesives, speciality coatings and polyols that are required in the converting process for packaging.
Some of the highly acclaimed and much in demand products by Uflex Chemicals are Laminating Solvent based Adhesives, Solvent less Adhesives, Water based Adhesives, PU Adhesives, Ink Binders, Flexo, Gravure Primers, Top Coats, Inks, Heat Seal Coatings, Energy Curable Coatings, UV Coatings, Solvent Borne Coatings, UV LED Coatings, etc.
Expressing delight over this development, Mr. Rajesh Bhasin, Business Head, Chemicals at Uflex Limited said, “With this, the Laboratory of Chemicals Business has been formally recognized by an Accreditation Body in line with the internationally laid down principles and is now authorized to issue results (within defined scope) for customers as a third party for outside samples in accordance with ISO/IEC17025:2005. Reports issued by an NABL accredited laboratory are internationally accepted owing to its tie up with International Laboratory Accreditation Cooperation (ILAC) and Asia Pacific Laboratory Accreditation Cooperation (APLAC).”
ISO/IEC 17025:2005 specifies the general requirements for the competence to carry out tests and/or calibrations, including sampling. It covers testing and calibration performed using standard methods, non-standard methods, and laboratory-developed methods.
Congratulating Team Chemicals at this remarkable feat, Mr. Ashok Chaturvedi, Chairman & Managing Director, Uflex Limited said, “This accreditation by NABL further testifies the quality conscious approach governing the manufacturing processes at Uflex Chemicals. Upholding our overarching Brand Promise across our business portfolio, we remain committed to offering value-added best-in-class flexible packaging solutions for our esteemed clients across the globe.”
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 64.05 |
|
|
1 |
INR 85.67 |
|
Euro |
1 |
INR 75.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
TRUP |
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 |
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.