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MIRA INFORM REPORT
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Report No. : |
484493 |
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Report Date : |
09.01.2018 |
IDENTIFICATION DETAILS
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Name : |
ITC LIMITED (w.e.f. 01.04.1974) |
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Formerly Known
As : |
INDIA TOBACCO COMPANY LIMITED (w.e.f. May 1970) IMPERIAL TOBACCO COMPANY OF INDIA LIMITED |
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Registered
Office : |
Virginia House, 37, Jawaharlal Nehru Road, Kolkata – 700071, West
Bengal |
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Tel. No.: |
91-33-23454545 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
24.08.1910 |
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Com. Reg. No.: |
21-001985 |
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Capital
Investment / Paid-up Capital : |
INR 12147.400 Million |
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CIN No.: [Company Identification
No.] |
L16005WB1910PLC001985 |
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IEC No.: |
0288001079 |
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TIN No.: |
05004002342/ 10560001031/ 36410177044 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACI5950L |
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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 business groups comprise the
following: FMCG:
Hotels – Hoteliering Paperboards, Paper and Packaging – Paperboards, Paper including Specialty Paper and Packaging including Flexibles. Agri Business – Agri commodities such as soya, spices, coffee and leaf tobacco. [Registered Activity] |
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No. of Employees
: |
25883 (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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Maximum Credit Limit : |
USD 1295460000 |
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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 was incorporated on 24th August, 1910. It is the largest cigarette manufacturer and seller in the country. It currently operates in variety of business segments: FMCG Cigarettes; FMCG Others; Hotels; Paperboards, Paper and Packaging; and Agri Business. It is a leader in the Indian Cigarette market, driven by an established portfolio of brands and a superior distribution network. For the financial year 2017, the company has achieved top line growth of 6.75% along with decent profit margin of 18.40%. The company possesses a healthy financial profile marked by strong networth base, good revenue profile, low debt level, good profitability and robust liquidity. Rating takes into consideration long operational track record, excellent business profile with a presence in diverse business and dominant position in the Indian cigarette market. Rating also takes into account the company’s focus on building cost efficacies, and its strong backward integration in the cigarette business through its leaf tobacco and packaging businesses, and also in the agricultural commodity and packaged food business through its e-chouple initiative. Subject, however, remains exposed to risks inherent in the individual business segments in which it operates. These include regulatory risks in the cigarette business such as increase in excise duty, and competitive pressures in the FMCG segment. Trade relations are trustworthy. Business is active. Payment are regular and as per commitments. In view of the 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) |
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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 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
CRISIL |
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Rating |
Long term borrowing = AAA |
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Rating Explanation |
Highest degree of safety and carry lowest
credit risk |
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Date |
24.10.2017 |
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Rating Agency Name |
CRISIL |
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Rating |
Short term borrowing = A1+ |
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Rating Explanation |
Very strong degree of safety and carry
lowest credit risk |
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Date |
24.10.2017 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 09.01.2018.
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.:91-33-23454545)
LOCATIONS
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Registered Office / Service Centre : |
Virginia House, 37, Jawaharlal Nehru Road, Kolkata – 700071, West Bengal, India |
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Tel. No.: |
91-33-23454545 / 22889371 |
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Fax No.: |
91-33-22884016/
1256/ 2259/ 2260 |
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E-Mail : |
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Website : |
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Hotel : |
Oberio Flight Services, |
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Headquarters : |
84 (Old No.90) Chambers Road, Chennai - 600018, Tamilnadu, India |
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Tel. No.: |
91-44-42081508 |
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Fax No.: |
91-44-24340294 |
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Head Office : |
ITC Hotel
Kakatiya Sheraton and Totheyrs, 63-3-1187, Begumpet, Hyderabad -500016,
Telangana, India |
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Tel. No.: |
91-40-23400132 |
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Fax No.: |
91-40-23401045 |
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Corporate Office : |
Kakatiya Sheraton
and Totheyrs, Begumpet, Hyderabad, Telangana, India |
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Tobacco Division : |
(ITD Flavor Department), International Airport Road, Meenakunte
Village Jalahobil, Bangalore - 562157, Karnataka, India |
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Branch Office : |
International Sales No. 106, Sardar Patel Road,
Secunderabad
– 500003, |
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Tel. No.: |
91-40-27843768 |
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Fax No.: |
91-40-27810034 |
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Agri Business
Division : |
Post Box No. 317, Grand Trunk Road, Guntur-522004, Andhra Pradesh, India |
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Business
Division : |
No. 18, Banaswadi Main Road, Bangalore-560005, Karnataka, India |
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PLANTS : |
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Cigarette Factories
: |
Meenakunte Village, Jallahobli, Bangalore (North) - 562157, Karnataka,
India
93/1, Karl Marx Sarani, P. B. No. 17203, Kolkata - 700043, West
Bengal, India
Basdeopur P. O., District Munger - 811202, Bihar, India
Sardar Patel Marg, P. O. Box No. 25, Saharanpur - 247001, Uttar
Pradesh, India
Plot No. B-27, MIDC Ranjangaon, Taluka Shirur, District Pune - 412220,
Maharashtra , India |
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Green Leaf
Threshing Plants : |
East Godavari District, Anaparti - 533342, Andhra Pradesh, India
Prakasam, P. B. No. 1, Chirala, Prakasam - 523157, Andhra Pradesh, India
Thandya Industrial Area Immavu and Adakanahalli Village Nanjangud Taluk,
District Mysore - 571302, Karnataka, India |
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Packaging and
Printing Plants |
Post Box No. 2277, Tiruvottiyur, Chennai - 600019, Tamilnadu,
India
Plot No. 1, Sector 11, Integrated Industrial Estate, Haridwar –
249403, Uttarkhand, India
Basdeopur P. O., District Munger - 811202, Bihar, India |
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Paper and
Paperboard Mills : |
·
Bollaram Anrich Industrial Estate, Village Bollarum, Medak – 502325, Telangana, India ·
Sarapaka Sarapaka Village, District Bhadradri Kothagudem-507128, Telangana, India ·
Thekkampatty Thekkampatty Village, Vivekanandapuram Post, Mettupalayam Taluk, Coimbatore – 641113, Tamilnadu, India ·
Tribeni Village and Post Chandrahati, District Hooghly – 712504, West Bengal, India |
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Foods
Factories : |
F - 26, Howrah Food Park, Dhulagarh, Sankrail, Howrah-711302, West Bengal, India
Plot No. 1, Sector 11, Integrated Industrial Estate, Haridwar -
249403 Uttarakhand, India
NH - 37, Bortejpur, Mouza Rampur, Kukurmara, District Kamrup-781134, Assam, India
Survey No. 15/1 and 15/2, Madivala Gram Panchayat Yeshwanthpura Village, District Kolar-563130, Karnataka, India
Sitakund Industrial Area, Village Nandlalpur, District Munger-811202, Bihar, India
Survey No. 77/3, Thandya Industrial Area, Immavu and Adakanahalli Villages, Nanjangud Taluk, District Mysuru-571302, Karnataka, India
Plot No. D - 1, MIDC, Ranjangaon, Taluka Shirur, District Pune-412 220, Maharashtra, India
Mouza Amraberia, J. L. No. 8, P.S. Uluberia, District Howrah-711303, West Bengal, India |
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Personal
Care Products Factories : |
·
Haridwar Plot No. 1, Sector 11, Integrated Industrial Estate, Haridwar-249403,
Uttarakhand, India
NH - 37, Bortejpur, Mouza Rampur, Kukurmara, District Kamrup-781134, Assam, India ·
Manpura Village Manpura, Tehsil Baddi, District Solan-174101, Himachal
Pradesh , India |
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Lifestyle Retailing
: |
Design and
Technology Centre
Plot No. 3, Sector – 5, IMT Manesar, Gurugram-122050, Haryana, India |
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Plants Under
Construction: |
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Ambarnath Integrated Consumer Goods, Manufacturing Facility, Off Kalyan Badlapur Road Ambarnath, District Thane-421505, Maharashtra, India
Food Unit - II, Plot No.1, Sector-11, Integrated Industrial Estate, Haridwar-249403, Uttarakhand, India
Integrated Foods Manufacturing and Logistics Facility A-1-A, Mixed Use Industrial Park Village Jhalthikriwal, District Kapurthala-144601, Punjab, India
Integrated Consumer Goods Manufacturing and Logistics Facility, IDCO Plot No. 4, Kholadwara Industrial Area, District Khordha-752050, Odisha, India
Integrated Consumer Goods Manufacturing and Logistics Facility, Village Manhorabad, District Medak-502336, Telangana, India
Integrated Packaged Foods Manufacturing Unit, Mouza Kulai, J. L. No. 26, P.S. Panchla, District Howrah-711322, West Bengal, India
Integrated Consumer Goods Manufacturing and Logistics Facility, Vadugapatti and Velur Villages, Taluk Illupur, District Pudukkottai-621 316, Tamilnadu, India
Integrated Consumer Goods Manufacturing Facility, Plot No. D - 1, MIDC Ranjangaon, Taluka Shirur, District Pune-412220, Maharashtra, India
Integrated Consumer Goods Manufacturing and Logistics Facility, Industrial Area Badiya Khedi, District Sehore-466001, Madhya Pradesh, India |
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HOTELS : |
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Owned Hotels
: |
·
Agra ITC Mughal Taj Ganj Agra - 282001, Uttar Pradesh, India ·
Bangalore ITC Gardenia 1, Residency Road, Bangalore-560025, Karnataka, India ITC Windsor 25, Windsor Square, Golf Course Road, Bangalore- 560052,
Karnataka, India My Fortune, Bangalore, 46, Richmond Road, Bangalore-560025, Karnataka, India ·
Chennai ITC Grand Chola, 63, Mount
Road, Guindy, Chennai-600032,
Tamilnadu, India My Fortune, Chennai, Cathedral Road, Chennai-600086, Tamilnadu, India ·
Jaipur ITC Rajputana Palace Road, Jaipur-302006, Rajasthan, India ·
Kolkata ITC Sonar, 1, JBS Haldane Avenue, Kolkata - 700046, West Bengal,
India ·
Mumbai ITC Maratha, Sahar, Mumbai-400099, Maharashtra, India ITC Grand Central, 287, Dr. B. Ambedkar Road, Parel, Mumbai - 400012,
Maharashtra, India ·
New
Delhi ITC Maurya, Sardar Patel Marg, Diplomatic Enclave, New Delhi -110021,
India Sheraton New Delhi Hotel, District Centre, Saket, New Delhi - 110017,
India |
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Licenced
Hotels : |
Fortune Park, Ellis Bridge,
Ahmedabad-380006, Gujarat, India
ITC Grand Bharat, P.O. Hasanpur,
Tauru, District Mewat-122105,
Gurugram, India
Welcom Heritage, Umed Bhawan Palace, Palace Road, Kota-324001,
Rajasthan, India ·
Port
Blair Fortune Resort Bay Island, Marine Hill, Andaman and Nicobar
Islands, Port Blair-744101, India ·
Vadodara WelcomHotel Vadodara, R. C. Dutt Road, Alkapuri, Vadodara - 390007,
Gujarat, India |
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Hotels Under
Operating Services : |
·
Aurangabad WelcomHotel Rama International, R-3, Chikalthana, Aurangabad- 431210, Maharashtra, India ·
Hyderabad,
ITC Kakatiya, 6-3-1187, Begumpet, Hyderabad-500016, Telangana, India
WelcomHotel Jodhpur, Khasra No. 53, Village – Uchiyarda, Jodhpur-342027, Rajasthan, India
WelcomHotel Khimsar Fort and Dunes, P.O. Khimsar, District Nagaur-341 025, Khimsar, India
WelcomHotel Kences Palm Beach No. 53, Devaneri Village East Coast Road, District Kanchipuram Mamallapuram-603104, Tamilnadu, India
WelcomHotel Dwarka, Plot No. 3, Sector – 10, District Centre, Dwarka, New Delhi-110075, India
WelcomHotel Bella Vista, SM - 8, Sector – 5, Panchkula-134109, Haryana, India ·
Visakhapatnam WelcomHotel Grand Bay, Beach Road, Visakhapatnam-530002, Andhra
Pradesh, India |
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Choupal
Saagars - Rural Services
Centres : |
Located At ·
Amravati ·
Badaun ·
Bahraich ·
Chandouli ·
Chindwara ·
Dewas ·
Dhar ·
Gonda ·
Hardoi ·
Hathras ·
Itarsi ·
Jagdishpur ·
Mandsaur ·
Mhow ·
Nagda ·
Parbhani ·
Pilibhit ·
Ratlam ·
Sehore ·
Ujjain ·
Vidisha ·
Wardha ·
Washim
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Wills
Lifestyle Stores : |
Located At: ·
Agra ·
Ahmedabad ·
Aurangabad ·
Belgaum ·
Bangalore ·
Bhopal ·
Bhubaneshwar ·
Chandigarh ·
Coimbatore ·
Dehradun ·
Ernakulam ·
Ghaziabad ·
Gurugram ·
Hyderabad ·
Indore ·
Jalandhar ·
Jaipur ·
Jammu ·
Kanpur ·
Kolkata ·
Lucknow ·
Ludhiana ·
Mumbai / Thane ·
Nagpur ·
Nashik ·
New Delhi ·
Noida ·
Panjim ·
Patna ·
Pune ·
Raipur ·
Ranchi ·
Siliguri ·
Surat ·
Vadodara ·
Visakhapatnam ·
John Players Stores ·
Chennai |
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Division
Headquarters : |
31, Sarojini Devi Road, Secunderabad, Hyderabad – 500003, Telangana,
India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Yogesh Chander Deveshwar |
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Designation : |
Chairman |
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Address : |
Apartment No. 1014A, The Magnolias DLF Golf Links, DLF City, Phase V, Gurugram-122009, Haryana, India |
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Date of Appointment : |
24.02.1994 |
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DIN No.: |
00044171 |
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Name : |
Mr. Nakul Anand |
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Designation : |
Whole-time Director |
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Address : |
No.18, Green Avenue, (Beh. Pkt - D-3, Vasant Kunj), Kishan Garh, New Delhi-110070, India |
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Date of Appointment : |
30.07.2014 |
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DIN No.: |
00022279 |
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Name : |
Mr. Rajiv Tandon |
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Designation : |
Whole-time Director |
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Address : |
Woodlands Syndicate, Flat - 4, 8/7, Alipore Road, Kolkata-700027, West Bengal, India |
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Date of Appointment : |
22.01.2016 |
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DIN No.: |
00042227 |
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Name : |
Mr. Sanjiv Puri |
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Designation : |
Whole-time Director |
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Address : |
4, Fountain Court, 7/1, Little Russell Street, Kolkata-700071, West Bengal, India |
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Date of Appointment : |
06.12.2015 |
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DIN No.: |
00280529 |
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Name : |
Mr. Sunil Behari Mathur |
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Designation : |
Director |
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Address : |
Plot No. 10, A-10, Vasant Vihar, New Delhi-110057, India |
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Date of Appointment : |
15.09.2014 |
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DIN No.: |
00013239 |
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Name : |
Mr. Arun Duggal |
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Designation : |
Director |
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Address : |
A-4, West End, New Delhi-110021, India |
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Date of Appointment : |
15.09.2014 |
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DIN No.: |
00024262 |
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Name : |
Mr. Syed Habibur Rehman |
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Designation : |
Director |
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Address : |
N - 140, Panchsheel Park, New Delhi-110017, India |
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Date of Appointment : |
27.07.2012 |
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DIN No.: |
00050862 |
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Name : |
Mr. Suryakant Balkrishna Mainak |
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Designation : |
Director |
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Address : |
B-1503, Oberoi Woods, Mohan Gokhale Marg, Off Western Express Highway, Goregaon (East), Mumbai-400063, Maharashtra, India |
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Date of Appointment : |
25.04.2014 |
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DIN No.: |
02531129 |
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Name : |
Mr. Shilabhadra Banerjee |
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Designation : |
Director |
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Address : |
1464, Sector-14, Faridabad-121007, Haryana, India |
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Date of Appointment : |
24.07.2014 |
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DIN No.: |
02922331 |
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Name : |
Mrs. Meera Shankar |
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Designation : |
Director |
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Address : |
Tower 34, Flat No. 202, Commonwealth Games Village, Delhi-110092, India |
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Date of Appointment : |
06.09.2012 |
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DIN No.: |
06374957 |
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Name : |
Mrs. Nirupama Rao |
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Designation : |
Director |
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Address : |
Apartment D Springleaf, Apartments No. 6, Brunton Cross Road, Bangalore-560025, Karnataka, India |
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Date of Appointment : |
08.04.2016 |
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DIN No.: |
06954879 |
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Name : |
Mr. Zafir Alam |
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Designation : |
Director |
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Address : |
B/22, Mayfair Garden Little Gibbs Road, Malabar Hills, Mumbai-400006, Maharashtra, India |
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Date of Appointment : |
26.10.2016 |
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DIN No.: |
07641534 |
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Name : |
Mr. David Robert Simpson |
|
Designation : |
Director |
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Address : |
38 Cambridge Street London SW1V4QH GB |
|
Date of Appointment : |
27.01.2017 |
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DIN No.: |
07717430 |
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Name : |
Mr. Ashok Malik |
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Designation : |
Director |
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|
Name : |
Mr. Pillapakkam Bahukutumbi Ramanujam |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Rajiv Tandon |
|
Designation : |
Company Financial Officer (KMP) |
|
Address : |
Woodlands Syndicate Flat - 4, 8/7 Alipore Road, Kolkata-700027, West Bengal, India |
|
Date of Appointment : |
17.08.2009 |
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PAN No: |
AAQPT5649E |
|
|
|
|
Name : |
Mr. Sanjiv Puri |
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Designation : |
Company Executive Officer (KMP) |
|
Address : |
4 Fountain Court, 7/1 Little Russell Street, Kolkata-700071, West Bengal, India |
|
Date of Appointment : |
05.02.2017 |
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PAN No: |
AEJPP3871R |
|
|
|
|
Name : |
Mr. Biswa Behari Chatterjee |
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Designation : |
Company Secretary |
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Address : |
3, Lovelock Street, Kolkata-700019, West Bengal, India |
|
Date of Appointment : |
02.10.1990 |
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PAN No: |
ABVPC6650Q |
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|
|
|
Name : |
Mr. Kannadiputhur Sundararaman Suresh |
|
Designation : |
General Counsel |
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BOARD COMMITTEES |
|
|
Audit Committee : |
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CSR and
Sustainability Committee : |
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Securityholders Relationship
Committee : |
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Nomination and
Compensation Committee : |
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Independent
Directors Committee : |
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Corporate
Management Committee : |
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SHAREHOLDING PATTERN
AS ON 30.09.2017
|
Category of shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares
(calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
|
(B) Public |
12158684841 |
99.80 |
|
|
(C) Non Promoter-Non Public |
24961650 |
0.20 |
|
|
Grand Total |
12183646491 |
100.00 |
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 (A+B+C2) |
|
|
B1) Institutions |
0.00 |
||
|
Mutual Funds/ |
576840715 |
4.74 |
|
|
Alternate Investment Funds |
637181 |
0.01 |
|
|
Foreign Portfolio Investors |
2323302192 |
19.11 |
|
|
Government of Singapore |
163792160 |
1.35 |
|
|
Financial Institutions/ Banks |
1120893844 |
9.22 |
|
|
Specified Undertaking of the Unit Trust of India |
1102809321 |
9.07 |
|
|
Insurance Companies |
2729902070 |
22.45 |
|
|
Life Insurance Corporation of India |
1975075980 |
16.24 |
|
|
General Insurance Corporation of India |
212875828 |
1.75 |
|
|
The New India Assurance Company Limited |
199685738 |
1.64 |
|
|
The Oriental Insurance Company Limited |
159781817 |
1.31 |
|
|
Sub Total B1 |
6751576002 |
55.53 |
|
|
B2) Central Government/ State Government(s)/ President of India |
0.00 |
||
|
B3) Non-Institutions |
0.00 |
||
|
Individual share capital upto INR 0.200 million |
1045220631 |
8.60 |
|
|
Individual share capital in excess of INR 0.200 million |
144441152 |
1.19 |
|
|
Any Other (specify) |
4217447056 |
34.69 |
|
|
Bodies Corporate |
4074348717 |
33.51 |
|
|
NRI |
69212396 |
0.57 |
|
|
PIO |
86977 |
0.00 |
|
|
Trusts |
56781548 |
0.47 |
|
|
Clearing Members |
16351058 |
0.13 |
|
|
Foreign Individuals |
666360 |
0.01 |
|
|
Tobacco Manufacturers (India) Limited |
2978347320 |
24.50 |
|
|
Myddleton Investment Company Limited |
486311940 |
4.00 |
|
|
Rothmans International Enterprises Limited |
154954890 |
1.27 |
|
|
Sub Total B3 |
5407108839 |
44.47 |
|
|
B=B1+B2+B3 |
12158684841 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The business groups comprise the
following: FMCG:
Hotels – Hoteliering Paperboards, Paper and Packaging – Paperboards, Paper including Specialty Paper and Packaging including Flexibles. Agri Business – Agri commodities such as soya, spices, coffee and leaf tobacco. [Registered Activity] |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Products / Services
: |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Brand Names : |
·
Sunfeast Dark Fantasy’ ·
Aashirvaad ·
Sunfeast Yumfills ·
Sunfeast Delishus ·
Sunfeast Mom’s Magic ·
Sunfeast Bounce ·
Bingo! Tedhe Medhe ·
Bingo! Mad Angles ·
Yumitos ·
YiPPee! ·
Candyman ·
Engage ·
Fiama |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Agencies Held : |
Not Available |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Exports : |
Not Divulged |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Imports : |
Not Divulged |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Terms : |
Not Divulged |
||||||||||||||||||||||||
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
25883 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
Note: Cash credit facilities are secured by hypothecation of inventories of the Company, both present and future |
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Bengal
Intelligent Park, Building Alpha, 1st Floor, Block - EP and GP
Sector - V, Salt Lake Electronics Complex, Kolkata - 700 091, West Bengal,
India |
|
PAN No.: |
AADFD5357J |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises Where Control
Exists (Subsidiaries Companies) : |
Greenacre Holdings Limited
Technico Technologies Inc., Canada Technico Asia Holdings Pty Limited, Australia and its subsidiary Technico Horticultural (Kunming) Company Limited, China
ITC Infotech Limited, UK ITC Infotech (USA), Inc. and its subsidiaries Pyxis Solutions, LLC , USA (merged with ITC Infotech (USA), Inc. w.e.f. 01.04.2016) Indivate Inc., USA (w.e.f. 18.11.2016)
MRR Trading and Investment Company Limited
The above list does not include ITC Global Holdings Pte. Limited, Singapore (in liquidation) |
|
Other Related
Parties With Whom The Company Had Transactions (Associates
Companies) : |
– being associates of the Company, and
– of which the Company is an associate |
|
|
|
|
Other Related
Parties With Whom The Company Had Transactions (Associates of the Company’s subsidiaries)
: |
– being associates of Russell Credit Limited, and
– being associate of Gold Flake Corporation Limited |
|
|
|
|
Other Related
Parties With Whom The Company Had Transactions (Joint Ventures) : |
|
|
|
|
|
Other Related
Parties With Whom The Company Had Transactions (Joint Venture of the Company’s subsidiary)
: |
· ITC Essentra Limited – being joint venture of Gold Flake Corporation Limited Note: King Maker Marketing, Inc. USA (KMM) ceased to be a subsidiary of the Company with effect from 16.11.2016 consequent to divestment of the Company’s entire shareholding in KMM. |
|
|
|
|
Employee Trusts
where there is significant influence: |
· IATC Provident Fund · ITC Defined Contribution Pension Fund · ITC Management Staff Gratuity Fund · ITC Employees Gratuity Fund · ITC Gratuity Fund ‘C’ · ITC Pension Fund · ILTD Seasonal Employees Pension Fund · ITC Platinum Jubilee Pension Fund · Tribeni Tissues Limited Gratuity Fund · ITC Bhadrachalam Paperboards Limited Management Staff Pension Fund · ITC Bhadrachalam Paperboards Limited Gratuity Fund ‘A’ · ITC Bhadrachalam Paperboards Limited Gratuity Fund ‘C’ · ITC Hotels Limited Employees Superannuation Scheme |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000000 |
Equity Shares |
INR 1/- each |
INR 20000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12147383071 |
Equity Shares |
INR 1/- each |
INR 12147.400 Million |
|
|
|
|
|
a) Reconciliation of
number of Ordinary Shares outstanding
|
Equity Shares |
Number
of Shares |
INR in Million |
|
at the beginning of the year |
8047206991 |
8047.200 |
|
Add: Issue of Bonus Shares |
4026657100 |
4026.700 |
|
Add: Issue of Shares on exercise of Options |
73518980 |
73.500 |
|
As at end of the
year |
12147383071 |
12147.400 |
b) Shareholders
holding more than 5% of the Ordinary Shares in the Company
|
Name of Shareholder
|
Number
of Shares |
% holding |
|
Tobacco Manufacturers (India) Limited |
2978347320 |
24.52 |
|
Life Insurance Corporation of India |
1975075980 |
16.26 |
|
Specified Undertaking of the Unit Trust of India |
1102591521 |
9.08 |
|
Total |
6056014821 |
49.86 |
c) Ordinary Shares
allotted as fully paid pursuant to contract(s) without payment being received
in cash during the period of five years immediately preceding 31st March
|
Particular |
Number
of Shares |
|
Shares issued in 2014-15 pursuant to the Scheme of Arrangement between Wimco Limited and ITC Limited |
87761 |
d) Ordinary Shares
allotted as fully paid up Bonus Shares for the period of five years immediately
preceding 31st March
|
Particular |
Number
of Shares |
|
Bonus Shares issued in 2016-17 |
4026657100 |
e) Rights,
preferences and restrictions attached to the Ordinary Shares
The Ordinary Shares of the Company, having par value of INR 1.00 per share, rank pari passu in all respects including voting rights and entitlement to dividend.
f) Shares reserved
for issue under Options
|
Particular |
Number
of Shares |
|
Ordinary Shares of INR 1.00 each |
431559080 |
Terms and Conditions of
Options Granted
Each Option entitles the holder thereof to apply for and be allotted ten Ordinary Shares of the Company of INR 1.00 each upon payment of the exercise price during the exercise period. The exercise period commences from the date of vesting of the Options and expires at the end of five years from (i) the date of grant in respect of Options granted under the ITC Employee Stock Option Scheme (introduced in 2001) and (ii) the date of vesting in respect of Options granted under the ITC Employee Stock Option Scheme - 2006 and the ITC Employee Stock Option Scheme - 2010.
The vesting period for conversion of Options is as follows:
On completion of 12 months from the date of grant of the Options : 30% vests
On completion of 24 months from the date of grant of the Options : 30% vests
On completion of 36 months from the date of grant of the Options : 40% vests
The Options have been granted at the ‘market price’ as defined under the Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014.
LISTING DETAILS:
|
Subject Stock
Code : |
BSE : 500875 NSE : ITC CSE : 10000018 |
|
Stock Exchange Place : |
|
|
|
|
|
Listing Date: |
Not Available |
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 |
12147.400 |
8047.200 |
8015.500 |
|
(b) Reserves &
Surplus |
441262.200 |
408517.100 |
299341.400 |
|
(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
|
453409.600 |
416564.300 |
307356.900 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
179.900 |
258.300 |
386.900 |
|
(b) Deferred tax
liabilities (Net) |
18717.000 |
18674.300 |
16316.000 |
|
(c) Other long term
liabilities |
238.600 |
151.300 |
70.500 |
|
(d) long-term provisions |
1313.700 |
1121.900 |
1007.200 |
|
Total Non-current
Liabilities |
20449.200 |
20205.800 |
17780.600 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.100 |
36.000 |
0.200 |
|
(b) Trade payables |
25512.200 |
22280.100 |
19046.200 |
|
(c) Other current liabilities |
42370.100 |
40650.600 |
36711.800 |
|
(d) Short-term provisions |
418.300 |
576.000 |
61060.900 |
|
Total Current Liabilities
|
68300.700 |
63542.700 |
116819.100 |
|
|
|
|
|
|
TOTAL |
542159.500 |
500312.800 |
441956.600 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
144693.200 |
135919.600 |
137771.400 |
|
(ii) Intangible Assets |
4109.200 |
4190.100 |
4013.500 |
|
(iii) Capital work-in-progress |
34913.300 |
23884.200 |
20854.900 |
|
(iv) Intangible assets
under development |
456.900 |
307.500 |
286.500 |
|
(b) Non-current
Investments |
84855.100 |
68532.000 |
24416.400 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
58.400 |
81.200 |
15063.600 |
|
(e) Other Non-current
assets |
27699.500 |
35059.000 |
0.000 |
|
Total Non-Current Assets |
296785.600 |
267973.600 |
202406.300 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
100997.800 |
64713.300 |
59638.200 |
|
(b) Inventories |
78639.900 |
85198.200 |
78367.600 |
|
(c) Trade receivables |
22075.000 |
16863.500 |
17224.000 |
|
(d) Cash and cash
equivalents |
27472.700 |
56392.000 |
75886.100 |
|
(e) Short-term loans and
advances |
33.700 |
38.500 |
5498.900 |
|
(f) Other current assets |
16154.800 |
9133.700 |
2935.500 |
|
Total Current Assets |
245373.900 |
232339.200 |
239550.300 |
|
|
|
|
|
|
TOTAL |
542159.500 |
500312.800 |
441956.600 |
PROFIT
& LOSS ACCOUNT [STANDALONE]
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
554484.600 |
519445.700 |
365074.000 |
|
|
Other Income |
19859.100 |
17692.600 |
15431.300 |
|
|
TOTAL |
574343.700 |
537138.300 |
380505.300 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
117655.600 |
110547.500 |
109878.300 |
|
|
Purchases of
Stock-in-Trade |
35665.700 |
25918.000 |
38986.600 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
6441.700 |
(1965.500) |
(2145.300) |
|
|
Employees benefits
expense |
24443.100 |
23315.900 |
17800.400 |
|
|
Excise costs |
153597.800 |
153619.000 |
0.000 |
|
|
Other expenses |
70900.300 |
70864.600 |
65818.500 |
|
|
TOTAL |
408704.200 |
382299.500 |
230338.500 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
165639.500 |
154838.800 |
150166.800 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
229.500 |
491.300 |
574.200 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
165410.000 |
154347.500 |
149592.600 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
10380.400 |
10006.800 |
9617.400 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
155029.600 |
144340.700 |
139975.200 |
|
|
|
|
|
|
|
Less |
TAX |
53020.600 |
51057.000 |
43897.900 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
102009.000 |
93283.700 |
96077.300 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
|
30578.500 |
42531.800 |
|
|
Hotel earnings |
|
5337.600 |
7790.100 |
|
|
Freight and Insurance
recoveries |
|
333.600 |
424.600 |
|
|
Dividend |
|
99.600 |
123.700 |
|
|
Other earnings |
|
88.100 |
89.700 |
|
|
TOTAL EARNINGS |
46090.000 |
36437.400 |
50959.900 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
12471.800 |
14290.000 |
|
|
Components and spare
parts (including stores) |
NA |
615.500 |
689.200 |
|
|
Purchase of Trademarks |
NA |
0.000 |
436.500 |
|
|
Capital goods |
NA |
2112.500 |
2925.600 |
|
|
Other goods |
NA |
153.600 |
179.800 |
|
|
TOTAL IMPORTS |
NA |
15353.400 |
18521.100 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
Basic |
8.43 |
7.74 |
12.05 |
|
|
Diluted |
8.38 |
7.70 |
11.93 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
78.400 |
128.600 |
143.100 |
|
Cash generated from operations |
152149.800 |
140396.400 |
135346.500 |
|
Net Cash From Operating Activities |
100020.200 |
92119.200 |
93088.700 |
QUARTERLY
RESULTS
|
PARTICULARS |
|
30.06.2017 1st
Quarter |
30.09.2017 2nd
Quarter |
|
Audited
/ UnAudited |
|
|
|
|
|
|
|
|
|
Net Sales |
|
138004.200 |
97639.200 |
|
Total Expenditure |
|
100540.200 |
60024.100 |
|
PBIDT (Excl OI) |
|
37464.000 |
37615.100 |
|
Other Income |
|
4767.700 |
4942.100 |
|
Operating Profit |
|
42231.700 |
42557.200 |
|
Interest |
|
103.800 |
290.100 |
|
Exceptional Items |
|
NA |
NA |
|
PBDT |
|
42127.900 |
42267.100 |
|
Depreciation |
|
2682.100 |
2824.200 |
|
Profit Before Tax |
|
39445.800 |
39442.900 |
|
Tax |
|
13840.800 |
13044.500 |
|
Provisions and contingencies |
|
NA |
NA |
|
Profit After Tax |
|
25605.000 |
26398.400 |
|
Extraordinary Items |
|
NA |
NA |
|
Prior Period Expenses |
|
NA |
NA |
|
Other Adjustments |
|
NA |
NA |
|
Net Profit |
|
25605.000 |
26398.400 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
14.53 |
11.85 |
17.22 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
25.12 |
30.80 |
21.20 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
60.73 |
59.59 |
46.70 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
2.11 |
1.82 |
1.92 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.90 |
0.94 |
0.92 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.13 |
0.13 |
0.27 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.15 |
0.15 |
0.38 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.41 |
0.39 |
0.53 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
721.74 |
315.16 |
261.52 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT
/ Sales) * 100] |
% |
18.40 |
17.96 |
26.32 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
18.82 |
18.65 |
21.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
22.50 |
22.39 |
31.26 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
3.59 |
3.66 |
2.05 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
2.44 |
2.32 |
1.38 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.84 |
0.83 |
0.70 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.02 |
0.05 |
0.07 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
3.59 |
3.66 |
2.05 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 1.00/- |
|
Market Value |
INR 260.65/- |
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 |
8015.500 |
8047.200 |
12147.400 |
|
Reserves & Surplus |
299341.400 |
408517.100 |
441262.200 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
307356.900 |
416564.300 |
453409.600 |
|
|
|
|
|
|
long-term borrowings |
386.900 |
258.300 |
179.900 |
|
Short term borrowings |
0.200 |
36.000 |
0.100 |
|
Current Maturities of
Long term debt |
143.100 |
128.600 |
78.400 |
|
Total borrowings |
530.200 |
422.900 |
258.400 |
|
Debt/Equity ratio |
0.002 |
0.001 |
0.001 |
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 |
365074.000 |
519445.700 |
554484.600 |
|
|
|
42.285 |
6.745 |
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 |
365074.000 |
519445.700 |
554484.600 |
|
Profit |
96077.300 |
93283.700 |
102009.000 |
|
|
26.32% |
17.96% |
18.40% |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
12147.400 |
8047.200 |
|
(b) Reserves &
Surplus |
|
451981.900 |
418748.000 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
(3) Minority Interest |
|
2947.400 |
2609.000 |
|
Total Shareholders’ Funds
|
|
467076.700 |
429404.200 |
|
|
|
|
|
|
(4) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
184.000 |
266.600 |
|
(b) Deferred tax
liabilities (Net) |
|
18787.700 |
18800.000 |
|
(c) Other long term
liabilities |
|
590.000 |
509.200 |
|
(d) long-term provisions |
|
1584.200 |
1354.200 |
|
Total Non-current
Liabilities |
|
21145.900 |
20930.000 |
|
|
|
|
|
|
(5) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
191.100 |
439.500 |
|
(b) Trade payables |
|
26593.300 |
23392.900 |
|
(c) Other current
liabilities |
|
43814.100 |
42038.200 |
|
(d) Short-term provisions |
|
611.600 |
714.000 |
|
Total Current Liabilities
|
|
71210.100 |
66584.600 |
|
|
|
|
|
|
TOTAL |
|
559432.700 |
516918.800 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
152622.700 |
144593.600 |
|
(ii) Intangible Assets |
|
4286.800 |
4447.400 |
|
(iii) Capital
work-in-progress |
|
36842.000 |
25289.700 |
|
(iv) Intangible assets
under development |
|
2482.200 |
2332.800 |
|
(b) Non-current
Investments |
|
66939.900 |
51258.100 |
|
(c) Deferred tax assets
(net) |
|
449.500 |
405.400 |
|
(d) Long-term Loan and Advances |
|
85.400 |
129.600 |
|
(e) Other Non-current
assets |
|
33033.200 |
39837.200 |
|
Total Non-Current Assets |
|
296741.700 |
268293.800 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
103323.900 |
66217.800 |
|
(b) Inventories |
|
86711.000 |
90621.000 |
|
(c) Trade receivables |
|
24742.900 |
19171.800 |
|
(d) Cash and cash
equivalents |
|
29674.000 |
60633.000 |
|
(e) Short-term loans and
advances |
|
67.800 |
80.700 |
|
(f) Other current assets |
|
18171.400 |
11900.700 |
|
Total Current Assets |
|
262691.000 |
248625.000 |
|
|
|
|
|
|
TOTAL |
|
559432.700 |
516918.800 |
PROFIT
& LOSS ACCOUNT [CONSOLIDATED]
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
587315.200 |
550610.800 |
|
|
Other Income |
|
17615.300 |
15308.000 |
|
|
TOTAL |
|
604930.500 |
565918.800 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
119790.300 |
111686.800 |
|
|
Purchases of
Stock-in-Trade |
|
34775.600 |
25952.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
5925.700 |
(1953.800) |
|
|
Employees benefits
expense |
|
36317.300 |
34409.700 |
|
|
Excise duty |
|
159279.100 |
158689.800 |
|
|
Share of profit of
associates and joint venture |
|
(59.700) |
(84.200) |
|
|
Other expenses |
|
76868.100 |
77317.800 |
|
|
TOTAL |
|
432896.400 |
406018.100 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
172034.100 |
159900.700 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
243.000 |
536.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
171791.100 |
159364.700 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
11527.900 |
10774.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
160263.200 |
148590.700 |
|
|
|
|
|
|
|
Less |
TAX |
|
55490.900 |
53582.100 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
104772.300 |
95008.600 |
|
|
|
|
|
|
|
|
Other Comprehensive
Income |
|
|
|
|
|
Items that will not
be reclassified to profit or loss: |
|
|
|
|
|
– Remeasurements of the defined benefit plans |
|
(271.900) |
(490.900) |
|
|
– Equity instruments through other comprehensive income |
|
1396.800 |
(322.100) |
|
|
– Effective portion of losses on designated portion of hedging instruments in a cash flow hedge |
|
(611.900) |
0.000 |
|
|
- Share of OCI in Associates and Joint Ventures |
|
107.100 |
(96.900) |
|
|
Income tax relating to items that will not be reclassified to profit or loss: |
|
239.100 |
169.400 |
|
|
|
|
|
|
|
|
Items that will be
reclassified to profit or loss: |
|
|
|
|
|
– Exchange differences in translating the financial statements of foreign operations |
|
(555.500) |
(43.400) |
|
|
– Effective portion of gains / (losses) on designated portion of hedging instruments in a cash flow hedge |
|
182.900 |
(23.200) |
|
|
Income tax relating to items that will be reclassified to profit or loss |
|
(63.100) |
8.000 |
|
|
Other Comprehensive
Income |
|
423.500 |
(799.100) |
|
|
Total Comprehensive
Income for the year |
|
105195.800 |
94209.500 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
Basic |
|
8.50 |
7.75 |
|
|
Diluted |
|
8.45 |
7.71 |
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 |
No |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
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 |
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
SOCIO-ECONOMIC
ENVIRONMENT
The global economy remained on a decelerating trend in 2016 growing by 3.1% compared to 3.4% in 2015 (as per latest IMF estimates). This marks the slowest pace of expansion since the global financial crisis in 2009 and the fifth successive year that the globaleconomy has grown at a rate lower than its long-term average of 3.6% p.a. The anticipated pick-up in global growth (3.4%) at the beginning of the year did not fructify mainly due to slower growth in the Advanced Economies which grew by 1.7% in 2016 against 2.1% in 2015. Within the Advanced Economies, the US posted a muted growth of 1.6% led by downward adjustments in inventories and contraction in Private Investments, particularly during the first half of the year. The Euro Area also recorded tepid growth, expanding by 1.7% during the year compared to 2.0% in 2015. Emerging Market and Developing Economies witnessed a growth of 4.1% in 2016 against 4.2% in 2015, with Brazil and Russia recording a reduced pace of contraction which was offset by slower growth in the emerging European economies and further slowdown in the Chinese economy from 6.9% in 2015 to 6.7% in 2016.
In spite of the lacklustre performance during the year as aforestated, green shoots of economic recovery became visible in the latter half of the year. It is anticipated that the global economy will perform better and grow by 3.5% in 2017 and improve further to 3.6% in 2018, on the back of synchronised growth momentum in Advanced as well as Emerging Economies. Within the Advanced Economies, the US economy is projected to grow at 2.3% in 2017 driven by expectations of a liberal fiscal policy and continued momentum in the manufacturing-led cyclical recovery. The outlook for Euro Area has also improved, though socio-political risks remain a potential downside. The Emerging Market and Developing Economies are also likely to witness improvement in growth at 4.5% in 2017, aided by recovery in commodity prices and Brazil and Russia emerging out of deep recession. Growth in China, however, is projected to slow down further to 6.6% in 2017, reflecting the ongoing rebalancing of the economy towards a more sustainable and broad-based consumption and services led growth. After years of persistently low inflation (even deflation), 2017 is expected to be a year of reflation. Stronger growth momentum, better prospects for oil and other commodities, and the US Dollar’s appreciation against other major currencies could cause inflation to return in most major economies. A strong US Dollar, increase in US interest rates, progressive tapering of quantitative easing in the EU and the looming threat of protectionism in the developed world could weigh on the nascent recovery in emerging markets including commodity-exporting emerging economies.
The Indian economy witnessed another challenging year, with Real GDP growth pegged at 7.1% representing a sharp slowdown over 2015-16 (7.9%). The Industry and Services sectors decelerated further during the year, recording the slowest growth in three years. Further, looking beyond the reported numbers, a wide range of economic indicators suggest tepid performance across private investments, consumption and manufacturing activity which have contracted significantly. The anticipated pick-up in Consumption and Private Investment remained elusive.
Private Investment is estimated to have grown by a mere 0.6% in 2016-17 - a 5-year low. Indian industry continues to be adversely impacted by low capacity utilisation and stretched balance sheets. Growth in Private Final Consumption Expenditure (PFCE) is estimated at 7.2% for 2016-17 (compared to 7.3% in 2015-16) aided by a rebound in Agriculture on the back of a good monsoon after two consecutive years of sub-par rainfall, partial implementation of recommendations of 7th Pay Commission and ‘One Rank One Pension’ (OROP) scheme. However, proxy indicators such as subdued performance of two-wheeler sales, marked deceleration in corporate sales growth, weak power demand, decline in cement and oil volumes, point to persistent weakness in Private Consumption and the broader economy.
On the positive side, India remains the fastest growing major economy in the world. During the year, there was significant improvement on the ‘twin deficit’ front. Fiscal Deficit is estimated to be contained within target at 3.5% of GDP in 2016-17 (against 3.9% in 2015-16) aided by buoyant tax collections and decline in oil subsidies. The Current Account Deficit was also contained within 1.0% of GDP in spite of an increase in oil prices during the year.
Inflation remained largely within the comfort zone of the RBI during the year. While growth in Wholesale Price Index (WPI) for 2016-17 stood at 1.7% compared to a decline of 3.7% in 2015-16, this was mainly attributable to the base effect of low fuel and commodity prices. Consumer Price Index (CPI) for 2016-17 declined to 4.5% against 4.9% in 2015-16 with Core CPI remaining stable at 4.7% in 2016-17 (4.6% in 2015-16). This prompted the RBI to reduce policy interest rates by 50 bps during the year. However, with commodity prices expected to firm up in the ensuing year and Core CPI remaining sticky at around 5% for the past several months, the scope for further reduction in interest rates seems limited.
Foreign capital flows into the country, in the form of Foreign Institutional Investments and Foreign Direct Investment, grew significantly during the year. It was a good year for the capital markets as well, with the Sensex advancing by 17% during the year (after declining by 9% in 2015-16), reflecting the optimism on improvement in the business environment, expected progress on the reforms agenda and anticipated acceleration in corporate earnings going forward.
As per median estimates, based on the Survey of Professional Forecasters conducted by RBI, the Gross Value Added (GVA) of the Indian economy is likely to grow by 7.3% in 2017-18 (6.7% in 2016-17). Timely and smooth implementation of key reforms, low inflation and expectations of a normal monsoon in the ensuing year represent some of the key factors that are likely to positively influence Private Consumption going forward. The pace of growth is expected to gather momentum in the medium-term on the back of favourable global economic tailwinds, pick-up in Private Investment and implementation of key policy reforms such as the Goods and Services Tax (GST).
The proposed implementation of the Goods and Services Tax (GST), with effect from 1st July 2017, is expected to transform the indirect tax landscape in the country and accelerate economic growth in the long run by simplifying the tax structure, enhancing tax compliance and facilitating the ease of doing business in a unified common market. This augurs well for the Company and each Business is gearing up to ensure a smooth transition to the new indirect tax regime and harness the supply chain and logistics efficiencies that are expected to accrue post implementation of GST. In the near-term, however, the preparedness of the Company’s suppliers and service providers, customers, trade channels etc. - especially the small and medium scale enterprises - remains a key factor to ensure a seamless transition to the GST regime with minimal disruption to operations.
While India remains one of the fastest growing major economies in the world, the pace of economic growth in recent years has remained below the desired levels and the country’s potential. Stagnation in the manufacturing sector needs to be reversed at the earliest towards the creation of sustainable livelihoods and absorption of millions of Indians entering the job market every year. In this context, the Government’s ‘Make in India’ initiative to turn the country into a global manufacturing hub coupled with focus on skill development are steps in the right direction. The successful implementation of structural initiatives identified by the Government towards improving the ease of doing business in the country by enhancing transparency, speeding up the approvals process, resolving policy issues by working in tandem with the States and fostering greater levels of value addition within the country would be critical to boost the performance of the Indian economy and realise its true potential. Enhancing agricultural productivity and value addition to international standards while simultaneously improving market linkages remain critical for the growth of the Agricultural sector. In this context, it is pertinent to note that anywhere between 5% and 40% of food is wasted along the chain in India, depending on the inherent perishability of the crop and the season. India processes only 8% of its total food production as compared to 23% in China, 65% in USA and 78% in Philippines. A big thrust on India’s Food Processing sector can lead to significant job creation, enhance rural incomes and help manage food inflation. Similarly, supportive policies in the area of agro-forestry would go a long way in creating sustainable livelihoods while simultaneously augmenting the nation’s environmental capital.
Given India’s disproportionately low share of global natural resources relative to its large population and where millions continue to live in abject poverty, the focus both at the national and corporate level should be on fashioning strategies that foster sustainable, equitable and inclusive growth. Differentiated and preferential incentives, in the form of fiscal or financial benefits to companies that adopt sustainable business practices would act as a force multiplier in achieving this critical national goal.
It is the Company’s belief that businesses can bring about transformational change by pursuing innovative business models that synergise the creation of sustainable livelihoods and the preservation of natural capital with enhancing shareholder value. This ‘Triple Bottom Line’ approach to creating larger ‘stakeholder value’, as opposed to merely ensuring uni-dimensional ‘shareholder value’, is the driving force that defines the Company’s sustainability vision and its growth path into the future.
The Company is a global exemplar in ‘Triple Bottom Line’ performance and is the only enterprise in the world of comparable dimensions to have achieved and sustained the three key global indices of environmental sustainability of being ‘water positive’ (for 15 years), ‘carbon positive’ (for 12 years), and ‘solid waste recycling positive’ (for 10 years). The focus on creating unique business models that generate substantial livelihoods across the value chains has led to the Company’s Businesses supporting six million sustainable livelihoods, many of whom belong to the weakest in society. The following sections outline the Company’s progress in pursuit of the ‘Triple Bottom Line’.
FINANCIAL PERFORMANCE
The Company delivered a steady performance during the year
in the backdrop of a persistently sluggish demand environment, continuing
pressure on the legal cigarette industry due to the cumulative impact of steep
increase in taxation and regulatory pressures, sharp hike in input costs and
gestation costs relating to new products/categories especially in the
non-cigarette FMCG segment. The operating environment was rendered particularly
challenging in the second half of the year with the currency crunch impacting
the incipient recovery in demand. The business environment in the Hotels
industry also remained subdued, with only a marginal improvement in room rates
reflecting the overhang of excess room inventory in key markets. The
Paperboards, Paper and Packaging segment also had to contend with a weak demand and pricing environment.
Despite the challenging business environment as aforestated, Gross Revenue at INR 550016.900 Million grew by 6.6% primarily driven by an 8.0% growth in the non-cigarette FMCG segment, 10.8% growth in Agri Business and 5.1% growth in the Cigarettes segment. Profit Before Tax registered a growth of 7.4% to INR 155029.600 Million while Profit After Tax at INR 102009.000 Million increased by 9.4%. Total Comprehensive Income for the year stood at INR 102779.000 Million (previous year INR 92617.900 Million). Earnings Per Share for the year stood at INR 8.43 (previous year INR 77.400). Cash flows from Operations aggregated INR 152149.800 Million, compared to INR 140396.400 Million in the previous year.
The Directors are pleased to recommend an Ordinary Dividend of INR 47.500 per share (previous year Ordinary Dividend of INR 43.300 per share and Special Dividend of INR 13.300 per share; adjusted for Bonus Issue) for the year ended 31st March, 2017. Total cash outflow in this regard will be INR 69446.500 Million including Dividend Distribution Tax of INR 11746.400 Million.
The Directors approved a transfer of INR 10300.000 Million (previous year INR 9900.000 Million) to General Reserve. Consequently, Retained Earnings as at 31st March, 2017 stands at INR 175768.100 Million (previous year INR 165898.900 Million).
UNSECURED LOANS:
Note: Sales tax deferment
loans Interest free deferral period ranging from 10 to 14 years and are repayable by 2025-26. |
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
Y10357587 |
90249950 |
INDUSTRIAL FINANCE CORPORATION OF INDIA |
16/12/1992 |
- |
- |
100000000.0 |
Bank of Baroda Building 16; Sansad Marg, New Delhi-110001, India |
|
2 |
Y10357568 |
90249931 |
THE INDUSTRIAL CREDIT & INVESTMENT CORPORATION OF INDIA LTD. |
14/05/1992 |
- |
- |
8600000.0 |
163, Backbay Reclamation, Mumbai-400020, Maharashtra, India |
|
3 |
Y10359333 |
90251696 |
STATE BANK OF INDIA |
20/09/1990 |
03/12/1998 |
- |
7000000000.0 |
34, Jawaharlal Nehru Road, Kolkata-700071, West Bengal, India |
|
4 |
Y10357498 |
90249861 |
INDUSTRIAL FINANCE CORPORATION OF INDIA |
26/03/1990 |
- |
- |
11500000.0 |
2, Fairlie Place, Kolkata-700001, West Bengal, India |
|
5 |
Y10357465 |
90249828 |
STATE BANK OF INDIA |
26/06/1989 |
16/04/1998 |
- |
7000000000.0 |
38, Chowringhee, Kolkata-700071, West Bengal, India |
|
6 |
A93676666 |
90251676 |
State Bank of India |
26/06/1989 |
15/07/2010 |
- |
6000000000.0 |
Reliance House 34 J. L. Nehru Road, Kolkata-700071, West Bengal, India |
|
7 |
Y10357190 |
90249553 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA |
03/04/1980 |
- |
- |
8690000.0 |
Jolly Maker Beckbay Reclamation, Mumbai-400021, Maharashtra, India |
|
8 |
G59953323 |
90249593 |
TATA BURROUGHS LTD. |
20/10/1981 |
- |
16/10/2017 |
1750000.0 |
Manish Commercial Center 216;-A; Dr. Annie Desant Road, Worli, Mumbai-400025, Maharashtra, India |
|
9 |
G60382934 |
90249531 |
INDIAN OVERSEAS BANK |
20/11/1978 |
- |
11/10/2017 |
2288700.0 |
13/03, Strand Road, Kolkata, West Bengal, India |
|
10 |
G12400800 |
90250976 |
STATE BANK OF INDIA |
18/04/1980 |
- |
31/08/2016 |
2700000.0 |
Jeevan Deep 1-Middleton Street, Kolkata-700071, West Bengal, India |
CONTINGENT
LIABILITIES:
Claims against the Company not acknowledged as debts INR
6885.300 Million (2016 – INR 5812.500 Million; 2015 - INR 5582.500 Million),
including interest on claims, where applicable, estimated to be INR 1951.700
Million (2016 - INR 1784.700 Million; 2015 - INR 1533.700 Million). These
comprise:
Excise duty, VAT/sales taxes and other indirect taxes claims disputed by the Company relating to issues of applicability and classification aggregating INR 5826.000 Million (2016 - INR 4714.200 Million; 2015 - INR 4500.100 Million), including interest on claims, where applicable, estimated to be INR 1858.800 Million (2016 - INR 1599.800 Million; 2015 - INR 1355.800 Million).
Local Authority taxes/cess/royalty on property, utilities etc. claims disputed by the Company relating to issues of applicability and determination aggregating INR 594.200 Million (2016 - INR 733.600 Million; 2015 - INR 687.900 Million), including interest on claims, where applicable, estimated to be INR 49.900 Million (2016 - INR 144.600 Million; 2015 - INR 134.700 Million).
Third party claims arising from disputes relating to contracts aggregating INR 390.400 Million (2016- INR 291.000 Million; 2015 - INR 291.900 Million), including interest on claims, where applicable, estimated to be INR 3.600 Million (2016 - INR 2.500 Million; 2015 - INR 1.400 Million).
Other matters INR 74.700 Million (2016 - INR 73.700 Million; 2015 – INR 102.600 Million), including interest on other matters, where applicable, estimated to be INR 39.400 Million (2016 - INR 37.800 Million; 2015 - INR 41.800 Million).
It is not practicable for the Company to estimate the closure of these issues and the consequential timings of cash
flows, if any, in respect of the above.
Corporate Guarantee given to Yes Bank Limited for credit facility availed by Broadcast Audience Research Council (BARC) outstanding - INR 13.000 Million (2016 - INR 13.000 Million; 2015 - INR 13.000 Million).
STATEMENT OF
STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30th
SEPTEMBER, 2017
(INR In Million)
|
Particulars |
3 Months ended |
Six
months ended |
|
|
|
30.09.2017 |
30.06.2017 |
30.09.2017 |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
INCOME FROM OPERATIONS |
|
|
|
|
Net Sales |
97639.200 |
138004.200 |
235643.400 |
|
Other Income |
4942.100 |
4767.700 |
9709.800 |
|
Total
Income from Operations |
102581.300 |
142771.900 |
245353.200 |
|
|
|
|
|
|
EXPENSES |
|
|
|
|
Cost of materials consumed |
28580.000 |
28949.000 |
57529.000 |
|
Purchase of Stock in Trade |
5588.200 |
9908.900 |
15497.100 |
|
Changes in inventories of finished goods and
work-in-progress |
9395.500 |
(497.900) |
8897.600 |
|
Excise duty |
(5502.100) |
38457.600 |
32955.500 |
|
Employee benefits expense |
6065.400 |
6746.300 |
12811.700 |
|
Finance Costs |
290.100 |
103.800 |
393.900 |
|
Depreciation and Amortization expenses |
2824.200 |
2682.100 |
5506.300 |
|
Other Expenditure |
15897.100 |
16976.300 |
32873.400 |
|
Total
Expenses |
63138.400 |
103326.100 |
166464.500 |
|
Profit
/ (Loss) before Tax |
39442.900 |
39445.800 |
78888.700 |
|
Tax Expense |
13044.500 |
13840.800 |
26885.300 |
|
Profit
/ (Loss) after Tax |
26398.400 |
25605.000 |
52003.400 |
|
Other Comprehensive Income |
(290.400) |
1568.200 |
1277.800 |
|
Items that will not be reclassified to profit and loss |
(260.700) |
1641.200 |
1380.500 |
|
Income tax relating to items that will not be reclassified to profit or loss |
11.400 |
(18.300) |
(6.900) |
|
Items that will be reclassified to profit and loss |
(62.900) |
(83.500) |
(146.400) |
|
Income tax relating to items that will be reclassified to
profit or loss |
21.800 |
28.800 |
50.600 |
|
Total
Comprehensive Income |
26108.000 |
27173.200 |
53281.200 |
|
Paid-up Equity Share Capital (Ordinary shares INR 1/- per
share) |
12183.600 |
12152.200 |
12183.600 |
|
Earnings per Share (EPS) - INR |
|
|
|
|
-
Basic |
2.17 |
2.11 |
4.28 |
|
-
Diluted |
2.15 |
2.09 |
4.24 |
SEGMENT WISE REVENUE,
RESULTS, ASSETS AND LIABILITIES FOR THE QUARTER AND SIX MONTHS ENDED 30th SEPTEMBER, 2017
|
Sr. No. |
Particular |
3 Months ended |
Six
months ended |
|
|
|
|
30.09.2017 |
30.06.2017 |
30.09.2017 |
|
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
1. |
Segment Revenue |
|
|
|
|
|
FMCG - Cigarettes |
45542.100 |
87441.600 |
133283.700 |
|
|
- Others |
28041.100 |
26008.900 |
54050.000 |
|
|
Total FMCG |
73583.200 |
113450.500 |
187333.700 |
|
|
Hotels |
3001.800 |
3048.900 |
6050.700 |
|
|
Agri Business |
19679.800 |
27606.200 |
47285.000 |
|
|
Paperboards, Paper and Packaging |
13094.100 |
13598.200 |
26692.300 |
|
|
Total |
109358.900 |
158002.800 |
267361.700 |
|
|
|
|
|
|
|
|
Less: Inter
segment revenue |
12596.900 |
20780.700 |
33377.600 |
|
|
|
|
|
|
|
|
Gross revenue from
sale of products and services |
96762.000 |
137222.100 |
233984.100 |
|
|
|
|
|
|
|
2. |
Segment Result |
|
|
|
|
|
FMCG - Cigarettes |
32916.700 |
32741.400 |
65658.100 |
|
|
- Others |
204.900 |
54.300 |
259.200 |
|
|
Total FMCG |
33121.600 |
32795.700 |
65917.300 |
|
|
Hotels |
42.400 |
53.100 |
95.500 |
|
|
Agri Business |
2562.000 |
2351.100 |
4913.100 |
|
|
Paperboards, Paper and Packaging |
2741.900 |
2572.900 |
5314.800 |
|
|
Total |
38467.900 |
37772.800 |
76240.700 |
|
|
Less : i.
Finance Costs |
290.100 |
103.800 |
393.900 |
|
|
ii. Other Un-allocable expenditure net off un-allocable expenditure |
(1265.100) |
(1176.800) |
(3041.900) |
|
|
Total Profit/(Loss)
before tax |
39442.900 |
39445.800 |
78888.700 |
|
|
|
|
|
|
|
3. |
Segment Assets |
|
|
|
|
|
FMCG - Cigarettes |
99588.600 |
77824.000 |
99588.600 |
|
|
- Others |
78137.300 |
80059.900 |
78137.300 |
|
|
Total FMCG |
177725.900 |
157883.900 |
177725.900 |
|
|
Hotels |
53614.700 |
52821.800 |
53614.700 |
|
|
Agri Business |
29294.600 |
33749.600 |
29294.600 |
|
|
Paperboards, Paper and Packaging |
68247.500 |
63698.000 |
68247.500 |
|
|
Total |
328882.700 |
308153.300 |
328882.700 |
|
|
|
|
|
|
|
|
Unallocated
corporate asset |
262420.100 |
286948.400 |
262420.100 |
|
|
|
|
|
|
|
|
Total Assets |
591302.800 |
595101.700 |
591302.800 |
|
|
|
|
|
|
|
4 |
Segment Liabilities |
|
|
|
|
|
FMCG - Cigarettes |
59856.000 |
33529.900 |
59856.000 |
|
|
- Others |
18185.600 |
14977.900 |
18185.600 |
|
|
Total FMCG |
78041.600 |
48507.800 |
78041.600 |
|
|
Hotels |
4844.800 |
4813.600 |
4844.800 |
|
|
Agri Business |
11980.900 |
6501.900 |
11980.900 |
|
|
Paperboards, Paper and Packaging |
7996.000 |
5856.900 |
7996.000 |
|
|
Total |
102863.300 |
65680.200 |
102863.300 |
|
|
|
|
|
|
|
|
Unallocated
corporate liabilities |
42693.800 |
47208.500 |
42693.800 |
|
|
|
|
|
|
|
|
Total Liabilities |
145557.100 |
112888.700 |
145557.100 |
STATEMENT
OF BALANCE SHEET AS ON 30.09.2017
|
SOURCES OF FUNDS |
|
|
30.09.2017 (Unaudited) |
|
Asset |
|
|
|
|
Non-current assets |
|
|
|
|
Property, plant and equipment |
|
|
143626.900 |
|
Capital work-in-progress |
|
|
42868.500 |
|
Intangible assets |
|
|
4653.000 |
|
Intangible assets under development |
|
|
49.500 |
|
Financial assets |
|
|
|
|
Investment |
|
|
96738.500 |
|
Other Financial Assets |
|
|
93.200 |
|
Income tax recoverable |
|
|
7197.300 |
|
Other non – current assets |
|
|
27487.800 |
|
Total non-current assets |
|
|
322714.700 |
|
|
|
|
|
|
Current assets |
|
|
|
|
Inventories |
|
|
73256.300 |
|
Financial assets |
|
|
|
|
Investment |
|
|
117775.300 |
|
Trade receivables |
|
|
26373.100 |
|
Cash and cash equivalent |
|
|
464.600 |
|
Other bank balance |
|
|
6777.600 |
|
Loans |
|
|
42.000 |
|
Others |
|
|
9939.700 |
|
Other current Assets |
|
|
30959.500 |
|
Total current assets |
|
|
265588.100 |
|
|
|
|
|
|
Total Asset |
|
|
591302.800 |
|
|
|
|
|
|
B Equity and
liabilities |
|
|
|
|
Equity |
|
|
|
|
Equity share capital |
|
|
12183.600 |
|
Other equity |
|
|
433562.100 |
|
Total equity |
|
|
445745.700 |
|
|
|
|
|
|
Non-current
liabilities |
|
|
|
|
Financial Liabilities |
|
|
|
|
Borrowings |
|
|
179.900 |
|
Other financial liabilities |
|
|
241.100 |
|
Long term provision |
|
|
1325.700 |
|
Deferred tax liability (net) |
|
|
18659.400 |
|
Other non – current liabilities |
|
|
349.900 |
|
Total non-current liabilities |
|
|
20756.000 |
|
|
|
|
|
|
Current liabilities |
|
|
|
|
Financial Liabilities |
|
|
|
|
Borrowings |
|
|
6000.700 |
|
Trade payables |
|
|
29427.400 |
|
Other financial liabilities |
|
|
8181.300 |
|
Other current liabilities |
|
|
74503.200 |
|
Provisions |
|
|
392.200 |
|
Current tax liabilities (Net) |
|
|
6296.300 |
|
Total current liabilities |
|
|
124801.100 |
|
|
|
|
|
|
Total equity and
liabilities |
|
|
591302.800 |
NOTES:
1. The Unaudited Standalone Financial Results, Segment
Results and Balance Sheet were reviewed by the Audit Committee and approved by the
Board of Directors of the Company at the meeting held on 27th October, 2017.
2. The launch and rollout costs of the Company's brands 'Fiama', 'Vivel',
'Superia'. 'Engage, 'Savlon' and 'Shower to Shower' covering the range of
personal care products of soaps, face washes, shower gels, skin care,
deodorants, handwash and ayurvedic talc, and the continuing significant brand
building costs of the Foods businesses are reflected under 'Other expenses'
stated above and in Segment Results under 'FMCG-Others'.
3. During the quarter, 31481220 Ordinary Shares of INR 1/- each were issued and
allotted under the Company's Employee Stock Option Schemes (ESOS). Consequently
the issued and paid-up Share Capital of the Company as on 30th September, 2017
stands increased to INR 12183.646 million.
4. This statement is as per Regulation 33 of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015.
5. Consequent to the introduction of Goods and Services Tax (GST) with effect
from 1st July 2017, Central Excise [other than National Calamity Contingent
Duty (NCCD) on cigarettes], Value Added Tax (VAT) etc. have been replaced by
GST. In accordance with Indian Accounting Standard - 18 on Revenue and Schedule
III of the Companies Act, 2013, GST, GST Compensation Cess, VAT. etc. are not
included in Gross Revenue from sale of products and services for applicable
periods. In view of the aforesaid restructuring of indirect taxes, Gross
Revenue from sale of products and services and Excise duty for the quarter and six
months ended 30th September 2017 are not comparable with the previous periods.
Following additional information is being provided to facilitate such
comparison:
(INR in million)
|
Particular |
3 Months ended |
Six months ended |
|
|
|
30.09.2017 |
30.06.2017 |
30.09.2017 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
Gross sales value (net of rebates and discounts) |
163915.800 |
157698.900 |
324022.400 |
|
Taxes other than excise duty / NCCD * |
67153.800 |
22785.200 |
90038.300 |
|
Gross revenue from sale of products and services |
96762.000 |
134913.700 |
233984.100 |
* Taxes includes GST, GST compensation cess, service tax, VAT, luxury tax etc., as applicable for the reported periods
6. The Company does not have any exceptional item to report for the above
periods.
FIXED ASSETS:
Tangible Asset:
- Land
- Building
- Leasehold Improvements
- Plant and Equipment
- Furniture and Fixture
- Vehicles
- Office Equipment
- Railway Sidings
Intangible Asset:
- Trademarks
- Computer Software
- Business and Commercial Rights
PRESS RELEASE / WEBSITE DETAILS
ITC TO INVEST INR 17000.000
MILLION IN KAPURTHALA FOOD PARK
The initial investment planned in the project was INR 6800.000 Million, which was subsequently, in 2015, enhanced to INR 14000.000 Million, which the company now plans to increase further to INR 17000.000 Million, said the government communique
The Punjab government on Wednesday said ITC Limited will invest INR 17000.000 Million more in the integrated food park in Kapurthala. A government release said this was conveyed to Punjab Chief Minister Amarinder Singh by an ITC delegation, led by CEO Sanjiv Puri, at a meeting here on Wednesday. Puri informed the Chief Minister that the company planned to start commercial production from the plant, the biggest of its kind in the country, from October this year.
Besides atta, biscuits and snacks, the project would include manufacture of juices and dairy products.
“The ITC delegation further informed the Chief Minister that the company would
be purchasing one million tons of wheat, along with one lakh tons of potatoes,
every year from the state for the food park. The food park would generate
around 5000 jobs for the people of Punjab,” said the release.
The food park, for which the MoU was originally signed in 2013 will mark further expansion in the investments of ITC, which is already running three hotels, in the state.
The initial investment planned in the project was INR 6800.000 Million, which was subsequently, in 2015, enhanced to INR 14000.000 Million, which the company now plans to increase further to INR 17000.000 Million, said the government communique.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No 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 63.35 |
|
UK Pound |
1 |
INR 85.89 |
|
Euro |
1 |
INR 76.15 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHI |
|
|
|
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
BHG |
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.