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MIRA INFORM REPORT
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Report No. : |
485172 |
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Report Date : |
10.01.2018 |
IDENTIFICATION DETAILS
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Name : |
WANBURY LIMITED (w.e.f. 2004) |
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Formerly Known
As : |
PEARL ORGANICS LIMITED |
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Registered
Office : |
BSEL Tech Park, B-Wing, 10th Floor, Sector 30 A, Opposite
Vashi Railway Station, Navi Mumbai – 400705, Maharashtra |
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Tel. No.: |
91-22-67942222 |
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Country : |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
11.08.1988 |
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Com. Reg. No.: |
11-048455 |
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Capital
Investment / Paid-up Capital : |
INR 232.201 Million |
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CIN No.: [Company Identification
No.] |
L51900MH1988PLC048455 |
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IEC No.: |
0394007409 |
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TIN / CST No.: |
27900333133 |
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GSTIN/UIN : |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP12825B /
VPNW00073D |
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PAN No.: [Permanent Account No.] |
AABCP5939P |
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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
: |
Manufacturing of Active Pharmaceutical Ingredients (API), Marketing of branded Formulations and related activities, including research. [Registered Activity] [Line
of business is updated as per latest annual report 2017] |
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No. of Employees
: |
2207 (Approximately) |
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MIRA’s Rating : |
C |
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Credit Rating |
Explanation |
Rating Comments |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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Status : |
Moderate |
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Payment Behaviour : |
Slow and delayed |
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Litigation : |
Exist |
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Comments : |
Subject was incorporated in the year 1988. It is a manufacturer and seller of Active Pharmaceutical Ingredients (API). It is also engaged into other related activities including research. As per the financial of 2017, the company has achieved an average
growth of 3.16% in its revenue as compared to the previous year but has
incurred operational losses. The weak financial position of the company is marked by average debt
balance sheet profile, modest liquidity position and negative reserves base
which have eroded networth of the company. The company was caught by Maharashtra Food and Drug Administration for
illegally exporting drugs to Mexico, Brazil and Pakistan. Business is active. Payments are reported to be slow and delayed. In view of aforesaid, the company can be considered for
business dealings on safe and secured trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
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 10.01.2018
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 Co-operative (91-22-67942112)
91-22-67942222 – Number is ringing
LOCATIONS
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Registered Office / Head Office : |
BSEL Tech Park, B-Wing, 10th Floor, Sector 30 A, Opposite Vashi
Railway Station, Navi Mumbai – 400705, Maharashtra, India |
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Tel. No.: |
91-22-67942222 / 67942112 |
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Fax No.: |
91-22-67942111 / 333 |
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E-Mail : |
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Website : |
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Factory 1 : |
A-15, MIDC
Industrial Area, Patalganga, Taluka -
Khalapur, District Raigad - 410 220, |
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Tel. No.: |
91-2192-250444/
91-22-27630034/254006 |
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Fax No.: |
91-2192-250531 /
91-22-27619447 |
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E-Mail : |
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Factory 2 : |
Plot No. J – 17, MIDC
Industrial Area, Tarapur, Maharashtra, India |
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Tel. No.: |
91-2192-250444/
91-22-27630034/254006 |
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Fax No.: |
91-2192-250531 /
91-22-27619447 |
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Factory 3 : |
Plot No. 24, M.I.D.C Tarapur, |
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Factory 4 : |
Plot No. D-312, ITC Industrial Area, MIDC Turbhe, Navi Mumbai, |
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Factory 5 / Doctor Organic
Chemicals Division : |
K. Illindalaparru – 534217, Iragavaram Manadal, Tanuka,
District: West Godavari, Andhra Pradesh, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Chandran Krishnamoorthy Sivaram |
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Designation : |
Vice Chairman and Wholetime Director |
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Address : |
Flat No 06, 1st Floor, Endeavour Building, Plot No. 144, Indulal Bhuva Road, Wadala, Mumbai – 400031, Maharashtra, India |
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Date of Birth/Age : |
01.01.1958 |
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Qualification : |
Graduate |
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Expertise in Specific Area : |
Pharmaceutical Industry |
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Date of Appointment : |
01.09.2005 |
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DIN No.: |
00005868 |
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Name : |
Mr. Narinder Kumar Puri |
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Designation : |
Non-Executive Independent Director |
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Address : |
659, Sector- 8, Panchkula – 134109, Haryana, India |
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Date of Birth/Age : |
71 Years |
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Qualification : |
MSC (Physics) |
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Expertise in Specific Area : |
Banking |
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Date of Appointment : |
09.03.2005 |
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DIN No : |
00002226 |
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Name : |
Mr. Sanjay Kumar Bhattacharyya |
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Designation : |
Non-Executive Independent Director |
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Address : |
F1/4, Hauz Khas Enclave, New Delhi – 110016, India |
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Date of Birth/Age : |
64 Years |
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Qualification : |
BA (Hons.) in Economics, CAIIB |
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Expertise in Specific Area : |
Banking |
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Date of Appointment : |
30.05.2013 |
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DIN No : |
01924770 |
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Name : |
Mr. Divakar Kaza |
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Designation : |
Non-Executive Independent Director |
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Address : |
C-404, Adarsha Residency, 47th Cross, 8th Block, Jayanagar, Bangalore – 560082, Karnataka, India |
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Date of Birth/Age : |
01.11.1959 |
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Date of Appointment : |
30.05.2017 |
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DIN No : |
01307279 |
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Name : |
Ms. Poonam Arya Bharti |
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Designation : |
Non-Executive Independent Director |
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Address : |
1404, Tower 2, The Palms South City-1, Gurugram – 122002, Haryana, India |
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Date of Birth/Age : |
26.11.1970 |
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Date of Appointment : |
30.05.2017 |
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DIN No : |
01165995 |
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Name : |
Ms. Anita Belani |
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Designation : |
Non-Executive Independent Director
(Upto 14.02.2017) |
NOTES:
· Date of appointment, address and designation of the directors has been updated as per the latest government registry records.
·
As per our previous database records, Mr. Arun
Laxman Bongirwar, Dr. Pyarelal Tiwari were the Non-Executive Independent
Director of
the company, however, they does not appear in the current government registry
records and the same could not be confirmed with the management as well.
KEY EXECUTIVES
|
Name : |
Mr. Vinod Rang Lal Verma |
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Designation : |
Chief Financial Officer |
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Address : |
Flat No.401, 4th Floor, B - Wing, Govind, M.G. Complex, Sector 14, Vashi, Navi Mumbai – 400703, Maharashtra, India |
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Date of Appointment : |
22.04.2016 |
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PAN No.: |
AALPV9031D |
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Name : |
Mr. Jitendra Jayantilal Gandhi |
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Designation : |
Company Secretary |
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Address : |
12-D/15, Estee Apartments, 3rd Floor, Saibaba Nagar, Borivali (West), Mumbai – 400092, Maharashtra, India |
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Date of Appointment : |
20.04.2015 |
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PAN No.: |
AGQPG9274Q |
SHAREHOLDING PATTERN
AS ON September 2017
|
Category of
Shareholder |
No. of
Shares |
Percentage
of Holding |
|
(A) Promoter
& Promoter Group |
13029561 |
56.11 |
|
(B) Public |
10190556 |
43.89 |
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Grand Total |
23220117 |
100.00 |
Statement showing shareholding pattern of the Promoter
and Promoter Group
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
Any Other
(specify) |
10005561 |
43.09 |
|
Expert Chemicals
(India) Private Limited |
10005561 |
43.09 |
|
Sub Total A1 |
10005561 |
43.09 |
|
Any Other
(specify) |
3024000 |
13.02 |
|
Kingsbury
Investments INC |
3024000 |
13.02 |
|
Sub Total A2 |
3024000 |
13.02 |
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A=A1+A2 |
13029561 |
56.11 |
Statement showing shareholding pattern of the Public
shareholder
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
Mutual Funds/ |
115 |
0.00 |
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Financial
Institutions/ Banks |
3473 |
0.01 |
|
Insurance
Companies |
560513 |
2.41 |
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General Insurance
Corporation of India |
281051 |
1.21 |
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Life Insurance
Corporation of India |
279462 |
1.20 |
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Sub Total B1 |
564101 |
2.43 |
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Individual share
capital upto INR 0.200 million |
5681186 |
24.47 |
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Individual share capital
in excess of INR 0.200 million |
1348200 |
5.81 |
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Yelamarthi Thimma
Raja |
235839 |
1.02 |
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Kanishka Jain |
241899 |
1.04 |
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NBFCs registered
with RBI |
6050 |
0.03 |
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Any Other
(specify) |
2591019 |
11.16 |
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Magnum Equifin
Private Limited |
500100 |
2.15 |
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Bodies Corporate |
1010368 |
4.35 |
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Clearing Members |
109637 |
0.47 |
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HUF |
588978 |
2.54 |
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Pandian Ilangovan |
549948 |
2.37 |
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NRI – Non- Repat |
580973 |
2.50 |
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NRI – Repat |
206383 |
0.89 |
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Overseas
corporate bodies |
94680 |
0.41 |
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Sub Total B3 |
9626455 |
41.46 |
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B=B1+B2+B3 |
10190556 |
43.89 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of Active Pharmaceutical Ingredients (API), Marketing of branded Formulations and related activities, including research. [Registered Activity] [Line
of business is updated as per latest annual report 2017] |
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Products / Services
: |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
2207 (Approximately) |
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Bankers : |
· State Bank of India · Bank of India · Andhra Bank · EXIM Bank · Axis Bank · IDBI Bank · State Bank of Mysore |
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Facilities : |
NOTES: LONG TERM BORROWINGS ·
a) For the year ended 31 March 2017 : Term Loans are secured by pari passu first charge on all the present and future movable and immovable fixed assets of the Company situated at Patalganga and Tarapur, few brands of the Company and second charge, except in respect of Term Loans from Edelweiss Asset reconstruction Company Limited which has a first charge, on all the present and future movable and immovable fixed assets of the Company situated at Tanuku and second pari passu charge on entire present and future current assets of the Company and pledge of entire holding of equity shares of the Company held by Expert Chemicals (I) Private Limited and Kingsbury Investment Inc., in addition to guarantee of Expert Chemicals (I) Private Limited, Bravo Healthcare Limited, Wanbury Global FZE, Kingsbury Investment Inc. and Mr. K. Chandran, director of the Company. b) For the period ended 31 March 2016 : Term Loans are secured by pari passu first charge on all the present and future movable and immovable fixed assets of the Company situated at Patalganga and Tarapur, few brands of the Company and second charge, except in respect of Term Loans from State Bank of India which has a first charge, on all the present and future movable and immovable fixed assets of the Company situated at Tanuku and second pari passu charge on entire present and future current assets of the Company and pledge of entire holding of equity shares of the Company held by Expert Chemicals (I) Private Limited and Kingsbury Investment Inc., in addition to guarantee of Expert Chemicals (I) Private Limited, Bravo Healthcare Ltd., Wanbury Global FZE, Kingsbury Investment Inc. and Mr. K. Chandran, director of the Company. · Vehicle Loans are secured by hypothecation of assets acquired against respective loans. ·
Rate of
Interest: a) For the year ended 31 March 2017 : The rate of interest on term loans vary between 1% to
11.50% p.a. and on vehicle loans vary between 6.30% to 10.00% p.a. b)
For the period ended 31 March 2016: The rate of interest on term loans vary between 1% to 11.50%
p.a. and on vehicle loans vary between 6.30% to 10.00% p.a. Repayment of Loans
During the year, on 9 December 2016, the Company has allotted 5,00,000 numbers of Zero % Compulsorily Convertible Debentures (CCDs) of face value of INR 200/- each at par aggregating to INR 10000.000 million. Each CCD will be convertible into 1 equity share of INR 10 each at a premium of INR 190 on preferential basis to Edelweiss Asset Reconstruction Company Limited ("EARCL") as a Trustee of EARC Trust SC 145, within 18 months from the date of allotment of CCDs. SHORT TERM BORROWINGS * Represents dues of State Bank of Mysore ("SBM") assigned to Edelweiss Asset Reconstruction Company Limited ("EARCL") by SBM, vide letter dated 31 March 2017. · Above loans are secured by a pari-passu first charge on current assets and few brands of the Company, second charge on fixed assets and pledge of entire holding of equity shares of the Company held by Expert Chemicals (I) Private Limited and Kingsbury Investments Inc., in addition to guarantee of Expert Chemicals (I) Private Limited, Bravo Healthcare Limited, Wanbury Global FZE, Kingsbury Investments Inc and Mr. K. Chandran, director of the Company. · Factoring facilities are secured by subservient (residual) charge on all present and future receivables, book debts, outstanding, monies receivables, claims and bills of the company, which are now due and or which may be due at any time of its approved debtors and subservient charge on all present and future fixed asset and current assets of the company. |
|
Financial
Institutions : |
·
Edelwiess Asset Reconstruction Co. Limited |
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Auditors : |
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|
Name : |
Kapoor and Parekh Associates Chartered Accountants |
|
Address : |
701, Business Suites 9, S.V. Road, Santacruz (West), Mumbai – 400054, Maharashtra,
India |
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Tel. No.: |
91-22-26007702 |
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Fax No.: |
91-22-26007705 |
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E-Mail : |
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Website : |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Other Related Parties : |
·
Expert Chemicals (India) Private Limited |
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Subsidiary Companies: |
·
Wanbury Holding B. V. (Netherlands) ·
Cantabria Pharma S. L. (Spain) ·
Ningxia Wanbury Fine Chemicals Company Limited
(China) ·
Wanbury Global FZE (Ras-AI-Khaimah, UAE) |
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Enterprise owned or significantly influenced by key management
personnel or their relatives : |
·
Wanbury Infotech Private Limited ·
Bravo Healthcare Limited ·
Wanbury Pharma Limited |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
INR 10/- each |
INR 300.000 Million |
|
2000000 |
Preference Shares |
INR 100/- each |
INR 200.000 Million |
|
|
|
|
|
|
|
Total |
|
INR 500.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
23220117 |
Equity Shares |
INR 10/- each |
INR 232.201 Million |
|
|
|
|
|
a. Reconciliation of Equity Shares outstanding
at the beginning and at the end of the reporting period:
|
Particulars |
31 March 2017 |
|
|
No. of Shares |
(INR in Million) |
|
|
Shares outstanding at the beginning of the year |
19969286 |
199.693 |
|
Add: Shares allotted as fully paid up during the period |
3250831 |
32.508 |
|
Shares outstanding
at the end of the period |
23220117 |
232.201 |
b.
Terms/Rights
attached to equity shares
The Company has only one class of equity shares with voting rights having a par value of INR 10 per share. The Company declares and pays dividend in Indian rupees.
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the numbers of equity shares held by the shareholders.
c.
Outstanding
Options to subscribe to equity shares
11,25,236 warrants of the face value of INR Nil have been allotted to the shareholders of Erstwhile PPIL as per the BIFR order. The warrant holders have the right to subscribe to one equity share of INR 10/- each at the premium of INR 125/- per share which is exercisable within five years from 27 June 2007, being the date of allotment of the warrants.
58,199 Zero Coupon Optionally Fully Convertible Debentures (OFCDs) of face value of INR 1,000/- each were allotted to the lenders of erstwhile PPIL pursuant to the order dated 24 April 2007 of Hon'ble BIFR. OFCD were convertible between 1 November 2008 and 30 April 2012 into its equity shares at a price of INR 125/- and 67% of the three months average weekly closing price prior to the date of exercise of such right.
For
rights of lender under CDR scheme to convert dues into equity shares of the
Company under certain condition stipulated in Master Restructuring Agreement
dated 19 September 2011.
d. Details of Equity Shares held by each
shareholder holding more than 5%:
|
Name of Shareholder
|
As at March 2017 |
|
|
No. of Shares |
% of Holding |
|
|
Kingsbury Investments Inc. |
3024000 |
13.02% |
|
Expert Chemicals (India) Private Limited |
10005561 |
43.09% |
As per records of the Company, including its register of shareholders/members and other declaration received from shareholders/members regarding beneficial interest, the above shareholding represents both legal and beneficial ownerships of shares.
e.
|
Name of Shareholder |
31 March 2017 |
31 March 2016 |
|
No of Shares of FV INR 10 |
No of Shares of FV INR 10 |
|
|
Equity Shares reserved for issuance under Employee Stock Options Plan 2016 of the Company |
998464 |
998464 |
f. In compliance with the terms of the Corporate Debt Restructuring Scheme, during the year ended 31st March 2017, the Company has allotted 32,50,831 equity shares of Face value of INR 10 each at a premium of INR 27.60 per equity share to the promoter company Expert Chemicals (India) Private Limited, on preferential basis.
g. During the year ended 31st March 2017, the Company has allotted 500000 numbers of Zero % Compulsorily Convertible Debentures (CCDs) of face value of INR 200/- each at par aggregating to INR 100.000 million.
h. The Company has neither allotted any shares as fully paid up pursuant to contract without payment being received in cash and by way of bonus shares nor bought back any shares during the period of five years preceding the date of this balance sheet.
i. The Company is not a subsidiary company.
LISTING DETAILS:
|
Subject Stock
Code : |
BSE : 524212 NSE : WANBURY ISIN : INE107F01022
|
|
Stock Exchange Place : |
Bombay Stock Exchange Limited, National Stock Exchange of India Limited Global Depository Receipts (GDRs) and Foreign Currency Convertible Bonds (FCCBs) issued by the Company are listed on Luxembourg Stock Exchange. |
|
Listed 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 (6
Months) |
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
232.201 |
199.693 |
199.693 |
|
(b) Reserves &
Surplus |
(1913.293) |
(1952.514) |
(1882.165) |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
122.231 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
(1681.092) |
(1630.590) |
(1682.472) |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
2605.379 |
2309.233 |
2704.802 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
46.800 |
116.833 |
202.221 |
|
(d) long-term provisions |
95.535 |
87.646 |
74.809 |
|
Total Non-current
Liabilities (3) |
2747.714 |
2513.712 |
2981.832 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
636.524 |
905.995 |
778.543 |
|
(b) Trade payables |
1291.591 |
856.885 |
1086.791 |
|
(c) Other current
liabilities |
1131.451 |
1189.157 |
854.610 |
|
(d) Short-term provisions |
41.195 |
29.716 |
23.741 |
|
Total Current Liabilities
(4) |
3100.761 |
2981.753 |
2743.685 |
|
|
|
|
|
|
TOTAL |
4167.383 |
3864.875 |
4043.045 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1854.474 |
1754.964 |
1599.658 |
|
(ii)
Intangible Assets |
8.908 |
10.342 |
3.490 |
|
(iii)
Fixed Assets held for sale |
37.359 |
37.359 |
37.359 |
|
(iv)
Capital work-in-progress |
95.792 |
144.180 |
185.162 |
|
(v)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.091 |
0.091 |
0.091 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
277.006 |
276.370 |
298.703 |
|
(e) Other Non-current
assets |
3.745 |
2.643 |
9.892 |
|
Total Non-Current Assets |
2277.375 |
2225.949 |
2134.355 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
342.276 |
346.135 |
337.680 |
|
(c) Trade receivables |
911.366 |
749.416 |
985.168 |
|
(d) Cash and cash
equivalents |
97.944 |
71.834 |
118.892 |
|
(e) Short-term loans and
advances |
434.315 |
367.370 |
361.484 |
|
(f) Other current assets |
104.107 |
104.171 |
105.466 |
|
Total Current Assets |
1890.008 |
1638.926 |
1908.690 |
|
|
|
|
|
|
TOTAL |
4167.383 |
3864.875 |
4043.045 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 (6
Months) |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
4366.282 |
4232.616 |
2499.233 |
|
|
|
|
Other Income |
77.460 |
14.062 |
64.840 |
|
|
|
|
TOTAL |
4443.742 |
4246.678 |
2564.073 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
1519.512 |
1452.018 |
983.212 |
|
|
|
|
Purchase of Stock-in-trade |
391.735 |
369.447 |
181.256 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
58.499 |
2.494 |
36.073 |
|
|
|
|
Employee Benefits Expenses |
875.650 |
855.939 |
396.325 |
|
|
|
|
Other Expenses |
1332.245 |
1227.924 |
688.093 |
|
|
|
|
TOTAL |
4177.641 |
3907.822 |
2284.959 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
266.101 |
338.856 |
279.114 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES |
208.978 |
318.681 |
186.248 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
57.123 |
20.175 |
92.866 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION |
103.155 |
90.524 |
48.042 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
(46.032) |
(70.349) |
44.824 |
||
|
|
|
|
|
|
||
|
Less |
TAX |
4.470 |
0.000 |
12.748 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
(50.502) |
(70.349) |
32.076 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(2835.664) |
(2765.315) |
(2745.651) |
||
|
|
|
|
|
|
||
|
Less |
Depreciation
adjustment as per Schedule II to the Companies Act, 2013 |
0.000 |
0.000 |
51.740 |
||
|
|
|
|
|
|
||
|
|
BALANCE CARRIED
TO THE B/S |
(2886.166) |
(2835.664) |
(2765.315) |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
F.O.B. Value of Exports |
1907.022 |
1677.015 |
1249.256 |
|
|
|
|
Freight, Insurance etc. |
42.450 |
44.758 |
30.423 |
|
|
|
TOTAL EARNINGS |
1949.472 |
1721.773 |
1279.679 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
410.480 |
510.240 |
276.541 |
|
|
|
|
Capital Goods |
7.171 |
35.365 |
4.643 |
|
|
|
TOTAL IMPORTS |
417.651 |
545.605 |
281.184 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (INR) |
(2.47) |
(3.52)
|
1.61 |
||
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 (6
Months) |
|
Current maturities of: |
|
|
|
|
Term Loan - Banks |
269.556 |
403.230 |
|
|
Term Loan - Others |
158.082 |
0.000 |
|
|
Vehicle Loan |
0.488 |
0.752 |
|
|
Dues of FCCB Holders |
100.607 |
112.368 |
|
|
TOTAL |
528.733 |
516.350 |
324.783 |
|
|
|
|
|
|
Cash generated from operations |
434.332 |
431.745 |
402.513 |
|
Net Cash generated from (Used in) Operating Activities |
433.887 |
431.610 |
401.689 |
QUARTERLY
RESULTS
|
Particulars |
|
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
|
|
|
1st
Quarter |
2nd
Quarter |
|
Net sales |
|
937.830 |
1153.390 |
|
Total Expenditure |
|
1034.400 |
1559.080 |
|
PBIDT (Excluding Other Income) |
|
(96.570) |
(405.690) |
|
Other income |
|
3.650 |
547.130 |
|
Operating Profit |
|
(92.930) |
141.440 |
|
Interest |
|
82.460 |
79.750 |
|
Exceptional Items |
|
NA |
NA |
|
PBDT |
|
(175.390) |
61.690 |
|
Depreciation |
|
25.500 |
25.930 |
|
Profit Before Tax |
|
(200.890) |
35.760 |
|
Tax |
|
(0.240) |
(0.240) |
|
Provisions and
contingencies |
|
NA |
NA |
|
Profit after tax |
|
(200.650) |
35.990 |
|
Extraordinary Items |
|
NA |
NA |
|
Prior Period Expenses |
|
NA |
NA |
|
Other Adjustments |
|
NA |
NA |
|
Net Profit |
|
(200.650) |
35.990 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 (6
Months) |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
76.19 |
64.63 |
143.88 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.79 |
5.65 |
2.54 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
246.66 |
171.71 |
340.65 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.78 |
0.98 |
0.83 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.14 |
0.18 |
0.16 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 (6
Months) |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
1.50 |
1.50 |
1.44 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
(2.24) |
(2.29) |
(2.26) |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
(1.84) |
(1.83) |
(1.63) |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
(1.17) |
(1.17) |
(1.06) |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.27 |
1.06 |
1.50 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 (6
Months) |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
(1.16) |
(1.66) |
1.28 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(1.21) |
(1.82) |
0.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
3.00 |
4.31 |
(1.91) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 (6
Months) |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.61 |
0.55 |
0.70 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.50 |
0.43 |
0.57 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
(0.40) |
(0.42) |
(0.42) |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
16.24 |
18.69 |
19.07 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.61 |
0.55 |
0.70 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10.00/- |
|
Market Value |
INR 51.30/- |
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 |
199.693 |
199.693 |
232.201 |
|
Reserves & Surplus |
(1882.165) |
(1952.514) |
(1913.293) |
|
Share Application money pending
allotment |
0.000 |
122.231 |
0.000 |
|
Net
worth |
(1682.472) |
(1630.590) |
(1681.092) |
|
|
|
|
|
|
Long-Term Borrowings |
2704.802 |
2309.233 |
2605.379 |
|
Short Term Borrowings |
778.543 |
905.995 |
636.524 |
|
Current Maturities |
324.783 |
516.350 |
528.733 |
|
Total
borrowings |
3808.128 |
3731.578 |
3770.636 |
|
Debt/Equity
ratio |
(2.263) |
(2.288) |
(2.243) |
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 |
2499.233 |
4232.616 |
4366.282 |
|
|
|
69.357 |
3.158 |
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
|
2499.233 |
4232.616 |
4366.282 |
|
Profit/(Loss) |
32.076 |
(70.349) |
(50.502) |
|
|
1.28% |
(1.66%) |
(1.16%) |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
(1)Shareholders' Funds |
|
|
|
(a) Share Capital |
232.201 |
199.693 |
|
(b) Reserves &
Surplus |
(2171.074) |
(2209.603) |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
122.231 |
|
- Minority interest |
266.624 |
266.624 |
|
Total Shareholders’ Funds
(1) + (2) |
(1672.249) |
(1621.055) |
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
(a) long-term borrowings |
2605.379 |
2309.233 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
46.800 |
116.833 |
|
(d) long-term provisions |
95.535 |
87.646 |
|
Total Non-current
Liabilities (3) |
2747.714 |
2513.712 |
|
|
|
|
|
(4) Current Liabilities |
|
|
|
(a) Short term borrowings |
636.524 |
905.995 |
|
(b) Trade payables |
1295.478 |
861.099 |
|
(c) Other current
liabilities |
1131.539 |
1189.247 |
|
(d) Short-term provisions |
41.195 |
29.716 |
|
Total Current Liabilities
(4) |
3104.736 |
2986.057 |
|
|
|
|
|
TOTAL |
4180.201 |
3878.714 |
|
|
|
|
|
II.
ASSETS |
|
|
|
(1) Non-current assets |
|
|
|
(a) Fixed Assets |
|
|
|
(i)
Tangible assets |
1854.474 |
1754.964 |
|
(ii)
Intangible Assets |
8.908 |
10.342 |
|
(iii)
Fixed Assets held for sale |
37.359 |
37.359 |
|
(iv)
Capital work-in-progress |
95.792 |
144.180 |
|
(v)
Intangible assets under development |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.091 |
0.091 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
289.426 |
289.837 |
|
(e) Other Non-current
assets |
3.745 |
2.643 |
|
Total Non-Current Assets |
2289.795 |
2239.416 |
|
|
|
|
|
(2) Current assets |
|
|
|
(a) Current investments |
0.000 |
0.000 |
|
(b) Inventories |
342.276 |
346.135 |
|
(c) Trade receivables |
911.366 |
749.416 |
|
(d) Cash and cash
equivalents |
98.342 |
72.206 |