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%20-%20485550%2015-Jan-2018_files/image015.jpg){kind=small}
%20-%20485550%2015-Jan-2018_files/image016.jpg)
%20-%20485550%2015-Jan-2018_files/image018.gif)
MIRA INFORM REPORT
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Report No. : |
485550 |
|
Report Date : |
15.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
CENTURY TEXTILE AND INDUSTRIES LIMITED CENTURY PULP AND PAPER (A DIVISION OF
CENTURY TEXTILE AND INDUSTRIES LIMITED) |
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|
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Registered
Office : |
‘Century Bhavan’, Dr. Annie Besant Road, Worli, Mumbai – 400030,
Maharashtra |
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Tel. No.: |
91-22-24957000 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
20.10.1897 |
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Com. Reg. No.: |
11-000163 |
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Capital
Investment / Paid-up Capital : |
INR 1116.900 Million |
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CIN No.: [Company Identification
No.] |
L17120MH1897PLC000163 |
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IEC No.: |
0388024135 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC10668A |
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PAN No.: [Permanent Account No.] |
AAACC2659Q |
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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
: |
Subject is engaged in manufacturing of Textiles, Cement, Pulp and Paper and Real estate. [Registered Activity] |
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No. of Employees
: |
1268 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Maximum Credit Limit : |
USD 70910000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a part of the B.K. Birla Group. It was
incorporated in 1897.
|
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 (31.03.2017) |
Current Rating (30.06.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term bank facilities = AA- |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
18.12.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term bank facilities = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
18.12.2017 |
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 15.01.2018
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 BY
|
Name : |
Mr. Ankit Agarwal |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-5945-268044 |
|
Date : |
10.01.2018 |
Management Non-Cooperative (Tel. No.: 91-22-24957000)
LOCATIONS
|
Registered/ Corporate Office/ Factory : |
‘Century Bhavan’, Dr. Annie Besant Road, Worli, Mumbai – 400030,
Maharashtra, India |
|
Tel. No.: |
91-22-24957000 |
|
Mob. No.: |
91-9827450974 (Mr. Sudhir Tiwari) |
|
Fax No.: |
91-22-24309491/ 24361980 |
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E-Mail : |
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Website : |
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Head Office: |
Industrial House 159, Churchgate Reclammation, Churchgate, Mumbai - 400
025, Maharashtra India |
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|
PLANTS : |
Located at: ¯
Birla
Century Plot No. 826, GIDC Industrial Estate, Jhagadia, District Bharuch - 393110, Gujarat, India ¯
Century
Rayon Rayon, Tyre Cord and Chemical Plants, Murbad Road, Kalyan - 421103, Maharashtra, India ¯
Cenray
Minerals and Chemicals Nawa Nagna, Jamnagar - 361007, Gujarat, India ¯
Century
Cement P.O. Baikunth, District Raipur - 493116, Chhattisgarh, India ¯
Maihar
Cement Units I and II P.O. Sarlanagar, Maihar, District Satna - 485772, Madhya Pradesh, India ¯
Manikgarh
Cement P.O. Gadchandur, District Chandrapur - 442908, Maharashtra, India ¯
Sonar
Bangla Cement Village Dhalo, P.O. Gankar, P.S. Raghunathganj, District Murshidabad - 742227, West Bengal, India ¯
Century
Pulp and Paper Ghanshyamdham, P.O. Lalkua, District Nainital - 262402, Uttarakhand, India ¯
Century
Pulp and Paper Plot no. 3, Vilayat Industrial Estate, District – Bharuch – 392001, Gujarat, India ¯
Century
Yarn/ Century Denim Village and Post Satrati, Tehsil – Kasrawad, District Khargone - 451660, Madhya Pradesh, India Tel. No.: 91-7285-255277/ 255281/ 82/ 83/ 84 Fax No.: 91-7285-255305 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Rajashree Birla |
|
Designation : |
Director |
|
Address |
Mangal Adityayan, 20 Carmichel Road Behind Jaslok Hospital Mumbai 400026, Maharashtra, India |
|
Date of Appointment: |
05.05.2015 |
|
DIN No.: |
00022995 |
|
|
|
|
Name : |
Mr. Basant Kumar Birla |
|
Designation : |
Chairman |
|
Address |
Basant Vihar 18, Gurusaday Road, Kolkata - 700019, West Bengal, India |
|
Date of Appointment: |
23.05.1973 |
|
DIN No.: |
00055856 |
|
|
|
|
Name : |
Mr. Kumar Mangalam Birla |
|
Designation : |
Vice-Chairman |
|
Address |
Mangal Adityayan, 20 Carmichel Road, Behind Jaslok Hosital, Mumbai - 400026, Maharashtra, India |
|
Date of Appointment: |
07.02.2016 |
|
DIN No.: |
00012813 |
|
|
|
|
Name : |
Mr. Pradip Kumar Daga |
|
Designation : |
Independent Director |
|
Address |
5, Merlin Park Gariahat, Kolkata - 700019, West Bengal, India |
|
Date of Appointment: |
04.06.1963 |
|
DIN No.: |
00040692 |
|
|
|
|
Name : |
Mr. Yazdi P. Dandiwala |
|
Designation : |
Independent Director |
|
Address |
C-11 Meherzin Wodehouse Road, Colaba, Mumbai - 400005, Maharashtra, India |
|
Date of Appointment: |
05.05.2014 |
|
DIN No.: |
01055000 |
|
|
|
|
Name : |
Mr. Rajan A. Dalal |
|
Designation : |
Independent Director |
|
Address |
21 Nymph Narayan Dabholkar Road, Mumbai - 400006, Maharashtra, India |
|
Date of Appointment: |
05.05.2014 |
|
DIN No.: |
00546264 |
|
|
|
|
Name : |
Mr. Sohanlal K. Jain |
|
Designation : |
Independent Director |
|
Address |
7, New Bazar, Khadki Pune - 411003, Maharashtra, India |
|
Date of Appointment: |
31.10.2014 |
|
DIN No.: |
02843676 |
|
|
|
|
Name : |
Mr. Devendra Kumar Dwarkaprasad Agrawal |
|
Designation : |
Whole-time Director |
|
Address |
4, Century Park Off Veer Savarkar Marg, Prabhadevi, Mumbai - 400025, Maharashtra, India |
|
Date of Appointment: |
01.04.2016 |
|
DIN No.: |
00040123 |
KEY EXECUTIVES
|
TEXTILES |
|
|
Century Textiles
and H.O.: |
|
|
|
|
|
Birla Century,
Century Yarn and Denim : |
|
|
|
|
|
RAYON |
|
|
Century Rayon,
Tyrecord and Chemicals : |
|
|
|
|
|
CEMENT |
|
|
Century, Maihar,
Manikgarh and Sonar Bangla Cements : |
|
|
|
|
|
Century Cement
& Sonar Bangla Cement : |
|
|
|
|
|
Maihar Cement Units
I & II : |
Shri Pankaj Kumar Sharma President & Unit Head |
|
|
|
|
Manikgarh Cement
Units I & II : |
Shri Rajendra Kabra President & Unit Head |
|
|
|
|
PAPER |
|
|
Century Pulp &
Paper : |
|
|
|
|
|
BIRLA
ESTATES |
|
|
|
|
|
|
|
|
CORPORATE
|
|
|
|
|
MAJOR SHAREHOLDERS
AS ON 30.09.2017
|
Category of
shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of shares
(calculated as per SCRR, 1957)As a % of |
|
|
(A) Promoter & Promoter Group |
53340040 |
47.75 |
|
|
(B) Public |
58355640 |
52.25 |
|
|
Grand Total |
111695680 |
100.00 |
|
%20-%20485550%2015-Jan-2018_files/image020.gif)
Statement
showing shareholding pattern of the Promoter and Promoter Group
|
Category
of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of shares
(calculated as per SCRR, 1957)As a % of |
|
|
A1) Indian |
0.00 |
|
|
|
Individuals/Hindu undivided Family |
207970 |
0.19 |
|
|
Basant Kumar Birla |
199800 |
0.18 |
|
|
Ravi Makharia |
3620 |
0.00 |
|
|
Laxmi Devi Makharia |
3440 |
0.00 |
|
|
Ramavatar Makharia |
1110 |
0.00 |
|
|
Any Other (specify) |
53132070 |
47.57 |
|
|
Pilani Investment And Industries Corporation Limited |
34220520 |
30.64 |
|
|
Igh Holdings Private Limited |
11150000 |
9.98 |
|
|
Aditya Marketing And Manufacturing Limited |
7560900 |
6.77 |
|
|
Prakash Educational Society |
128000 |
0.11 |
|
|
Birla Educational Institution |
44000 |
0.04 |
|
|
Padmavati Investment Limited |
16700 |
0.01 |
|
|
Manav Investment And Trading Company Limited |
11950 |
0.01 |
|
|
Sub Total A1 |
53340040 |
47.75 |
|
|
A2) Foreign |
0.00 |
|
|
|
A=A1+A2 |
5,33,40,040 |
47.75 |
|
Statement showing shareholding pattern of
the Public shareholder
|
Category & Name
of the Shareholders |
Total no. shares
held |
Shareholding % calculated
as per SCRR, 1957 As a % of |
|
|
B1) Institutions |
0.00 |
||
|
Mutual Funds/ |
15403404 |
13.79 |
|
|
Hdfc Trustee Company Limited - Hdfc Prudence Fund |
2689000 |
2.41 |
|
|
Foreign Portfolio Investors |
9646884 |
8.64 |
|
|
Goldman Sachs India Limited |
1396084 |
1.25 |
|
|
Financial Institutions/ Banks |
3022033 |
2.71 |
|
|
(i) Life Insurance Corporation Of India |
2176445 |
1.95 |
|
|
Insurance Companies |
642115 |
0.57 |
|
|
Any Other (specify) |
11875 |
0.01 |
|
|
Foreign Bank |
855 |
0.00 |
|
|
UTI |
11020 |
0.01 |
|
|
Sub Total B1 |
28726311 |
25.72 |
|
|
B2) Central Government/ State Government(s)/ President of India |
0.00 |
||
|
Central Government/ State Government(s)/ President of India |
2591 |
0.00 |
|
|
Sub Total B2 |
2591 |
0.00 |
|
|
B3) Non-Institutions |
0.00 |
||
|
Individual share capital upto Rs. 2 Lacs |
13229052 |
11.84 |
|
|
Individual share capital in excess of Rs. 2 Lacs |
4797463 |
4.30 |
|
|
(i) Hitesh Satishchandra Doshi |
1569338 |
1.41 |
|
|
Any Other (specify) |
11600223 |
10.39 |
|
|
Trusts |
24313 |
0.02 |
|
|
Foreign Nationals |
450 |
0.00 |
|
|
HUF |
635130 |
0.57 |
|
|
NRI – Non- Repat |
267297 |
0.24 |
|
|
Other Directors |
160 |
0.00 |
|
|
NRI – Repat |
211062 |
0.19 |
|
|
Overseas corporate bodies |
365820 |
0.33 |
|
|
Clearing Members |
233118 |
0.21 |
|
|
Camden Industries Limited |
2107472 |
1.89 |
|
|
Birla Corporation Limited |
1807660 |
1.62 |
|
|
Orient Paper And Industries Limited |
1437640 |
1.29 |
|
|
Sub Total B3 |
29626738 |
26.52 |
|
|
B=B1+B2+B3 |
58355640 |
52.25 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing of Textiles, Cement, Pulp and Paper and Real Estate. [Registered Activity] |
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Products / Services
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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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 : |
1268 (Approximately) |
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Bankers : |
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Facilities : |
(INR
In Million)
|
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Auditors : |
|
|
Name : |
SRBC and Company LLP Chartered Accountants |
|
Address : |
14th Floor, The Ruby, 29 Senapati Bapat Marg, Dadar (West),
Mumbai – 400028, Maharashtra, India |
|
Tel. No.: |
91-22-61920000 |
|
Fax No : |
91-22-61921000 |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Where significant influence
exists: |
Pilani Investment and Industries Corporation Limited (As a Shareholder of the Company directly and indirectly) |
|
|
|
|
Other Related Parties : |
|
|
Pension & Provident Fund of
Century Textiles & Industries Limited : |
|
|
|
|
|
Gratuity Fund of Century Textiles
& Industries Limited : |
Century Textiles And Industries Limited Employees Gratuity Fund |
|
|
|
|
Superannuation Fund of Century
Textiles & Industries Limited : |
|
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
148000000 |
Equity Shares |
INR 10/- each |
INR 1480.000 Million |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
111711090 |
Equity Shares |
INR 10/- each |
INR 1117.100 Million |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
111695680 |
Equity Shares |
INR 10/- each |
INR 1116.900 Million |
|
|
|
|
|
(The Company has only one class of equity share. Each shareholder is eligible for one vote per share. The dividend proposed by the Board is subject to the approval of shareholders except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts in proportion to their shareholding.)
- Reconciliation
of the number of shares outstanding at the beginning and at the end of the
period.
|
Equity Shares with Voting rights
Year Ended 31 March 2017 |
Opening Balance |
Fresh Issue |
Closing Balance |
|
Year Ended 31 March 2017 |
|
|
|
|
No. of Shares |
11,16,95,680 |
-- |
11,16,95,680 |
|
INR In Million |
1116.900 |
-- |
1116.900 |
- Shareholders
holding more than 5% shares of the Company
|
Class of shares / Name of
shareholders |
31.03.2017 |
|
|
No. of Shared held |
Percentage |
|
|
Equity shares with
voting rights |
|
|
|
Pilani Investment and Industries Corporation Limited |
34220520 |
30.64% |
|
IGH Holding Private Limited |
11150000 |
9.98% |
|
Aditya Marketing and Manufacturing Limited |
7560900 |
6.77% |
|
INR In Million |
1116.900 |
-- |
- Equity shares
reserved for issue at a later date:
In terms of the shareholder approval obtained at the extra ordinary general meeting held on 4 June, 2014, the Company issued and allotted 1,86,50,000 preferential warrant to the Promoter Group at a price of INR 354.89 per warrant, entitling the holder of such warrant to apply for and obtain one equity share of face value of INR 10/ each fully paid up against each warrant on or before the expiry of 18 months from the date of allotment.
On 30 March, 2015, the warrant holders had partially exercised their entitlement to convert 84,70,000 warrant into
equivalent number of equity shares as per the terms of issue. Further on 18 December, 2015 warrant holders exercised the balance entitlement and converted 1,01,80,000 warrants into equivalent number of equity shares by paying the balance 75% of the price thereon.
- The company has not issued any equity shares as bonus or for consideration other than cash and has not bought back any shares during the period of five years immediately preceding 31 March 2017.
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1116.900 |
1116.900 |
1015.100 |
|
(b) Reserves &
Surplus |
23701.700 |
22520.600 |
18724.300 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
903.200 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
|
24818.600 |
23637.500 |
20642.600 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
31259.500 |
32830.300 |
35622.700 |
|
(b) Deferred tax
liabilities (Net) |
807.100 |
957.700 |
2046.400 |
|
(c) Other long term
liabilities |
2006.700 |
2136.600 |
2386.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
4344.600 |
|
Total Non-current
Liabilities |
34073.300 |
35924.600 |
44399.700 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
15940.100 |
14192.100 |
12686.400 |
|
(b) Trade payables |
7058.200 |
6099.100 |
4507.400 |
|
(c) Other current
liabilities |
17084.100 |
17378.600 |
17363.500 |
|
(d) Short-term provisions |
4458.200 |
4698.300 |
1164.200 |
|
Total Current Liabilities
|
44540.600 |
42368.100 |
35721.500 |
|
|
|
|
|
|
TOTAL |
103432.500 |
101930.200 |
100763.800 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
62021.700 |
63318.600 |
59346.300 |
|
(ii) Intangible Assets |
27.500 |
26.300 |
32.000 |
|
(iii) Capital work-in-progress |
341.900 |
702.100 |
7098.900 |
|
(iv) Intangible assets
under development |
1.000 |
1.000 |
15.800 |
|
(b) Non-current
Investments |
13627.900 |
12067.200 |
4950.400 |
|
(c) Deferred tax assets
(net) |
648.700 |
641.600 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
2236.800 |
|
(e) Other Non-current
assets |
4150.200 |
3523.700 |
1745.200 |
|
Total Non-Current Assets |
80818.900 |
80280.500 |
75425.400 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
12645.000 |
12731.400 |
14239.400 |
|
(c) Trade receivables |
5029.600 |
5243.600 |
6589.900 |
|
(d) Cash and cash
equivalents |
892.100 |
1017.900 |
1242.400 |
|
(e) Short-term loans and advances |
0.000 |
0.000 |
2715.300 |
|
(f) Other current assets |
4046.900 |
2656.800 |
551.400 |
|
Total Current Assets |
22613.600 |
21649.700 |
25338.400 |
|
|
|
|
|
|
TOTAL |
103432.500 |
101930.200 |
100763.800 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
86535.300 |
87451.900 |
75592.700 |
|
|
|
|
Other Income |
756.300 |
554.000 |
477.700 |
|
|
|
|
TOTAL |
87291.600 |
88005.900 |
76070.400 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
25999.100 |
27115.700 |
27583.600 |
|
|
|
|
Purchases of Stock-in-Trade |
6.800 |
93.200 |
139.200 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
993.600 |
517.200 |
(1374.900) |
|
|
|
|
Excise Duty |
7542.400 |
7782.300 |
0.000 |
|
|
|
|
Employees benefits expense |
6672.000 |
6463.700 |
6163.000 |
|
|
|
|
Other expenses |
36312.100 |
38751.700 |
36585.800 |
|
|
|
|
Expenditure transferred to capital account |
0.000 |
0.000 |
-27.700 |
|
|
|
|
TOTAL |
77526.000 |
80723.800 |
69069.000 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
9765.600 |
7282.100 |
7001.400 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES |
5507.500 |
5876.500 |
4846.200 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
4258.100 |
1405.600 |
2155.200 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/ AMORTISATION |
3141.100 |
2830.900 |
2492.100 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
1117.000 |
(1425.300) |
(336.900) |
||
|
|
|
|
|
|
||
|
Less |
TAX |
67.100 |
(475.300) |
(491.800) |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
1049.900 |
(950.000) |
154.900 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
F.O.B. Value of Exports |
NA |
4371.500 |
5256.100 |
|
|
|
|
Dividend |
NA |
0.800 |
0.800 |
|
|
|
TOTAL EARNINGS |
NA |
4372.300 |
5256.900 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
NA |
3615.700 |
4612.600 |
|
|
|
|
Stores & Spares |
NA |
808.500 |
709.500 |
|
|
|
|
Capital Goods |
NA |
283.900 |
312.400 |
|
|
|
TOTAL IMPORTS |
NA |
4708.100 |
5634.500 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (INR) |
9.40 |
(9.10) |
1.66 |
||
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
9476.700 |
10906.100 |
13076.600 |
|
Cash generated from operations |
9657.400 |
10268.900 |
4139.400 |
|
Net cash flows from (used in) operations |
9400.300 |
10200.200 |
3800.700 |
QUARTERLY
RESULTS
|
Particulars |
|
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
|
|
|
1st
Quarter |
2st Quarter |
|
Net sales |
|
23192.500 |
18216.900 |
|
Total Expenditure |
|
19659.000 |
15355.100 |
|
PBIDT (Excluding Other Income) |
|
3533.500 |
2861.800 |
|
Other income |
|
235.100 |
228.800 |
|
Operating Profit |
|
3768.600 |
3090.600 |
|
Interest |
|
1165.600 |
1193.000 |
|
Exceptional Items |
|
NA |
NA |
|
PBDT |
|
2603.000 |
1897.600 |
|
Depreciation |
|
770.000 |
797.200 |
|
Profit Before Tax |
|
1833.000 |
1100.400 |
|
Tax |
|
630.600 |
345.000 |
|
Provisions and
contingencies |
|
NA |
NA |
|
Profit after tax |
|
1202.400 |
755.400 |
|
Extraordinary Items |
|
NA |
NA |
|
Prior Period Expenses |
|
NA |
NA |
|
Other Adjustments |
|
NA |
NA |
|
Net Profit |
|
1202.400 |
527.800 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
21.21 |
21.89 |
31.82 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
17.21 |
16.68 |
11.47 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
99.06 |
81.82 |
59.34 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.77 |
0.57 |
0.49 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.16 |
0.11 |
0.11 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.73 |
0.74 |
0.71 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.90 |
1.99 |
2.34 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.79 |
1.79 |
1.73 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
2.51 |
2.71 |
3.22 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.77 |
1.24 |
1.44 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
1.21 |
(1.09) |
0.20 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.02 |
(0.93) |
0.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
4.23 |
(4.02) |
0.75 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.51 |
0.51 |
0.71 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.22 |
0.21 |
0.31 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.24 |
0.23 |
0.20 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
42.26 |
42.10 |
47.59 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.51 |
0.51 |
0.71 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10.00/- |
|
Market Value |
INR 1435.00/- |
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 |
1015.100 |
1116.900 |
1116.900 |
|
Reserves & Surplus |
18724.300 |
22520.600 |
23701.700 |
|
Money received against
share warrants |
903.200 |
0.000 |
0.000 |
|
Net worth |
20642.600 |
23637.500 |
24818.600 |
|
|
|
|
|
|
long-term borrowings |
35622.700 |
32830.300 |
31259.500 |
|
Short term borrowings |
12686.400 |
14192.100 |
15940.100 |
|
Current Maturities of
Long term debt |
13076.600 |
10906.100 |
9476.700 |
|
Total borrowings |
61385.700 |
57928.500 |
56676.300 |
|
Debt/Equity ratio |
2.974 |
2.451 |
2.284 |
%20-%20485550%2015-Jan-2018_files/image022.gif)
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 |
75592.700 |
87451.900 |
86535.300 |
|
|
|
15.688 |
(1.048) |
%20-%20485550%2015-Jan-2018_files/image024.gif)
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 |
75592.700 |
87451.900 |
86535.300 |
|
Profit |
154.900 |
(950.000) |
1049.900 |
|
|
0.20% |
(1.09%) |
1.21% |
%20-%20485550%2015-Jan-2018_files/image026.gif)
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 |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2017 |
As
on 31.03.2016 |
|
SHORT TERM
BORROWING |
|
|
|
Short Term Borrowings from Banks Under a buyer’s credit arrangement in foreign currency |
1454.100 |
1185.100 |
|
Rupee Loans |
0.000 |
1500.000 |
|
Commercial Paper |
13250.000 |
4500.000 |
|
Total |
14704.100 |
7185.100 |
CORPORATE INFORMATION
Subject is a public Company domiciled in India and is incorporated under the provisions of the Companies Act, applicable in India. The principal place of business of the Company is located at Century Bhawan, Dr. A. B. Road, Worli, Mumbai. The Company is principally engaged in manufacturing of Textiles, Cement, Pulp and Paper and Real estate.
The financial statements were authorised for issue in accordance with a resolution of the board of directors on 12 May 2017.
AWARDS, CERTIFICATES, PRIZES:
Various Divisions of the Company have received notable awards / certificates as mentioned below:-
(a) Textiles:
- Birla Century is the first integrated fabric manufacturing unit in India which cleared Sustainable Textile Production (Step) certification with highest rating from Hohenstein (Germany).
- Birla Century also qualified as the first unit in textile sector for Made In Green (MIG) Tag from Hohenstein (Germany).
The above denotes that the products manufactured by the plant are Eco-friendly and under Green & sustainable
environment.
(b) Rayon, Tyre Cord &
Chemicals:
- CII Certificate for Excellence in energy Management 2016 received for being the “Energy Efficient Unit” in the competition held at Hyderabad.
- 2 Gold (1st Place) and 2 Silver (2nd Place) were achieved by 4 quality circles who participated at QCFI’s Chapter and National Convention 2016.
- 3 “Sujhav Ratan” Awards from INSSAN (Indian National Suggestion Schemes’ Association) were received at the 18th Creativity Summit held at New Delhi in August 2016.
CERTIFICATIONS
- Oeko Tex Certificate received for upgradation from Product Class II to Class I (suitable even for Baby Skin).
- The ISO 9001 has been updated to 2015 version for Manufacture & Supply of Industrial Chemicals by TUV Nord. ISO 9001: 2008 exists for the manufacture of viscose filament yarn.
(c) Century Cement:
First Prize
for “Overall Performance” and “Storage, Transport & Use of Explosive” for
the limestone mines during Annual Safety Celebrations – 2016 held under the
aegis of Directorate General of Mines Safety, Bilaspur and Raigarh Region.
First
Prize for “Reclamation & Rehabilitation” for its limestone mines in the
category of mechanized mines, Chhattisgarh during the Mines Environment and
Mineral Conservation Week, Raipur Region 2016-17 from the Indian Bureau of
Mines, Raipur.
(d) Maihar Cement:
First
Prize for the “Overall Performance” and “Systematic and Scientific Development”
for its limestone mines in the category of mechanized mines during the 26th
Mines Environment and Mineral Conservation Week 2016-17 from the Indian Bureau
of Mines, Jabalpur region.
(e) Manikgarh Cement:
First
Prize for the “Overall Performance” for its limestone mines in the category of
highly mechanized mines during the Mines Environment and Mineral Conservation
Week 2016-2017 held under the aegis of Controller General, Indian Bureau of
Mines, Nagpur.
(f) Century Pulp and Paper (CPP):
During the
year, Century Pulp & Paper, Lalkuan participated in 100th and 101st
“Agro-industrial Exhibition – 2016 and 2017” organised by and held at G B Pant
University of Agriculture and Technology, Pant Nagar and Century Pulp &
Paper has been adjudged First position.
During
last eleven consecutive such exhibitions, ten times Century Pulp and Paper has
stood First.
MANAGEMENT DISCUSSION
AND ANALYSIS REPORT
Textiles
(Cotton fabrics, Denim cloth, Yarn, Viscose Filament Yarn and Tyre Yarn) Cotton
Textiles, Yarn and Denim:
Industry structure &
Development:
Textile industry is facing tough times due to the adverse market scenario in domestic and export markets. India is the second largest exporter after China of textiles and apparel products having 6% share in the global trade. However, the market pickup to improve export performance is still to happen.
Our focus remains on value added products and new product development to cater to the niche segment of the market.
Opportunities & Threats:
Positive
steps taken by the Central Government for the textile industry, from allocation
of funds to giving extra rebate to exporters (mainly on made-ups) and various
other benefits, are expected to improve investment in this sector and provide
more business opportunities in the near future.
With
increasing capacities of man-made fibres as compared to cotton, the preferred
shift of the consumer to use products of man-made fibres i.e. viscose,
polyester, polyamide, acrylic, etc. and its blends, is expected. Presently in
India, the consumption of textile products is 65% made of cotton and 35% made
of man-made fibres as against the reverse trend overseas.
Outlook:
The present consumption of global man-made fibre product is 65% of the textile trade as against 35% in India. The trend in India is also shifting towards use of man-made fibre products. In order to satisfy the taste of customers in future, we have developed innovative products with man-made fibre and its blends which have been appreciated and approved by the customers. We are also initiating the launch of own brand for home textile products in USA in time to come.
With the above and focus on cost optimization, we expect the
outlook to be satisfactory.
Century Rayon –
Viscose Filament Yarn (VFY) [Pot Spun Yarn (PSY) & Continuous Spun Yarn
(CSY)] and
Rayon Tyre Yarn.
Industry Structure and Development:
The year witnessed increased consumption of VFY (PSY&CSY) in China, as well as in India in meterage terms, which also happen to be dominant production centers for these yarns. The spurt in demand, coupled with increased consumption in Pakistan, has led to more than 90% capacity utilization by Chinese producers for the first time in many years. It also helped Indian producers, not only to maintain low inventory, but also to undertake efforts of debottlenecking, and increasing production, to some extent.
Due to stringent environmental control norms in China and the new pollution control norms in India, new entrants are not likely to come up in the field of VFY production, which will help existing units to perform well in this segment.
Encouraged by the penetration of products introduced by the unit into the value added segment, as well as new product development, the unit has applied for increasing its capacity from the existing 25000 TPA to 30000 TPA to the Ministry of Environment and Forests & Climate Change which has already been cleared. The application for consent to operate, is being filed with the Maharashtra Pollution Control Board.
The Indian Rupee continues to gain strength against the US Dollar thus making exports less competitive, as well as import from China, looking more attractive.
Opportunities and Threats:
In the
recently concluded Paris Fashion show, VFY emerged as the preferred choice in
fashion fibre, thus reaffirming that in the long run, our products would
continue to find favour with leading fashion designers. Sensing this
opportunity, the unit has drawn up plans to introduce a new product i.e. Air
Texturising Yarn and would perhaps be the first unit in the organized sector to
offer this product in the market.
Opportunities are being explored to introduce blended fabrics of VFY with Cotton and Nylon, and a team of dedicated experts has been formed to identify avenues in this regard. Substitution of Polyester and Nylon in the Rayon filament market is witnessing a decline.
Initiatives undertaken by the unit to offer its product as substitute to silk have had a positive impact and it is expected that the unit will be able to maintain its lead in this segment over competitors.
In Rayon Tyre Yarn, the unit may face the threat of losing its market share due to not having an integrated manufacturing unit for dipped fabrics.
The industry continues to witness a shift towards super fine deniers, which are fetching a premium price and offering better margins to the weavers, as well as producers of yarn. This would however, require Indian producers to invest in additional spinning and textile capacities to cater to the demand.
Outlook:
Doubled
and Twisted yarn, introduced by the unit last year, has been well accepted in
the market. The unit has established its lead in the super fine denier segment
of CSY in the market.
With
benefits of cost optimization likely to be realised in power and labour coupled
with expansion / modernization as mentioned in the Directors’ Report, the
outlook of the unit is expected to remain positive.
Cement (Cement & Clinker)
Industry Structure and Development:
The Indian Cement Industry has a capacity of more than 425 million tonnes and is the second largest cement industry in the world.
Cement industry has made rapid progress in the last one decade, not only in the number of plants and the total installed capacity, but now it also has the distinction of being one of the most cost competitive, efficient cement
industry in the world.
Cement production in India is expected to be about 279.81 million tonnes as compared to 283.46 million tonnes in FY 2015-16 witnessing a de-growth of about 1.29%. Sentiments related to growth were positive with the agrarian and rural economy benefitting from a good monsoon after two successive rain-deficient years but after the government withdrew high denomination notes in November 2016, there was de-growth in cement production. Cement industry is facing lower capacity utilization. The gap between demand and supply is likely to shrink when major infrastructure projects come into play.
The liquidity in the economy is moving towards normalization. With expectations for revival and growth in overall
consumption across several sectors including construction and building materials, the outlook for FY 2017-18 appears to be positive.
Opportunities and Threats:
The
Government’s strong focus on infrastructure development such as roads,
highways, coastal connectivity roads, irrigation, affordable housing, metro
rail projects, etc. will give a much needed fillip for cement demand in the
coming years.
Outlook:
In India,
the per capita cement consumption is about 218 kg which is far less than the
world’s average of about 536 kg. The potential for higher consumption of cement
is thus very large, as India’s per capita consumption grows closer to the world
average. The prospects of the country’s cement industry are linked to the
economic growth. India is moving on to a higher growth trajectory and to that
extent, the cement sector is poised for a pickup in growth.
Pulp and Paper (Pulp, Writing &
Printing Paper, Tissue Paper and Multilayer Packaging Board)
Industry Structure &
Development:
The paper industry, being in the commodity sector, is strongly co-related with the domestic and global economic factors. The balance between demand and supply at the domestic level is determined by the economic scenario in the developing and developed countries.
Based on the recent shut down of some domestic capacities and expected growth in the country’s GDP, it is likely that the domestic paper industry will grow at a reasonable pace along with the economy, from a medium to long-term perspective.
Opportunities and Threats:
Large part
of country’s young population, having higher quantum of disposable income,
generate a demand for better quality products and services. These symptoms are
also strongly visible, with increased growth in value added paper products in
the domestic market.
Education being the primary focus by the Central and State Governments, and the impetus in the country’s economy, especially after demonetisation, should provide an opportunity for the paper industry to grow.
With the Rupee getting stronger against the Dollar, the possibility of paper and paper products being imported mainly from the neighbouring countries would remain a threat for the Indian paper industry.
Outlook:
Further
strengthening of the Rupee against the Dollar can create an opportunity for
import, which may result in pricing pressure for a short term outlook. But, the
medium to long-term outlook of the Indian paper industry appears to be strong,
and will grow in line with the country’s GDP and economy.
Real Estate
Industry Structure and Development
:
The real estate sector is one of the most globally recognized sectors. The real estate sector in India has witnessed unprecedented change in the last few years and has been at the forefront of Indian Government’s agenda on account of its potential to propel economic growth significantly. Real estate sector constitutes around 7.7 per cent of India’s GDP in 2016-17. Real estate has forward and backward linkages with more than 250 different sectors and is one of the largest employment generator in India and slated to grow substantially over the next decade.
Opportunities and Threats:
The
Government of India along with the governments of the respective states has
taken several initiatives to encourage the development in the sector. The Smart
City Project, where there is a plan to build 100 smart cities, is a prime
opportunity for the real estate companies. Further affordable housing
initiative will be a big boost for this sector.
The real estate sector in India is witnessing a series of fundamental reforms on regulatory and macroeconomics fronts such as implementation of Real Estate (Regulation and Development) Act establishing a State Real Estate Regulatory Authority (“RERA”) to monitor the real estate sector, which is effective from 1st May, 2017, establishing the regulatory framework for listing of Real Estate Investment Trusts, low interest rate regime, implementation of Goods and Services Tax. These changes are expected to result in significant benefit for the real estate business.
Fluctuation in market conditions may affect the ability to sell units at expected prices which could adversely impact revenue and earnings.
Outlook :
With the
interest rate being at near bottom level, reality sales volume has started to
steadily move up. The entire picture is changed now particularly with RERA,
which will help large developers, those that can adapt and serve market better.
The growing flow of FDI into Indian real estate is encouraging increased transparency. Developers, in order to attract funding, have revamped their accounting and management systems to meet due diligence standards.
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
G37835154 |
100081931 |
HDFC BANK LIMITED |
16/02/2017 |
- |
3500000000.0 |
HDFC BANK HOUSE SENAPATI BAPAT MARG,LOWER PAREL (W)MUMBAIMH400013IN |
|
2 |
G34371864 |
100076416 |
SBICAP TRUSTEE COMPANY LIMITED |
13/01/2017 |
- |
7000000000.0 |
202, MAKER TOWER, 'E', CUFFE PARADE,COLABA,MUMBAIMa400005IN |
|
3 |
G15444524 |
100056812 |
SBICAP TRUSTEE COMPANY LIMITED |
04/10/2016 |
- |
2000000000.0 |
202, MAKER TOWER, 'E', CUFFE PARADE,COLABA,MUMBAIMa400005IN |
|
4 |
G28468106 |
100049937 |
State Bank of India |
24/08/2016 |
29/11/2016 |
26000000000.0 |
"THE CAPITAL", A WING, 16TH FLOORBANDRA KURLA COMPLEX, BANDRA (EAST)MUMBAIMH400051IN |
|
5 |
G06299150 |
100034624 |
State Bank of India |
27/05/2016 |
31/05/2016 |
5000000000.0 |
Corporate Accounts Group IITHE CAPITAL "A" Wing ,16th Floor BKCMumbaiMH400051IN |
|
6 |
C67443481 |
10595630 |
The South Indian Bank Ltd. |
21/09/2015 |
23/09/2015 |
750000000.0 |
Industrial Finance Branch, At 110, Raheja TowersAnnai SalaiChennaiTN600002IN |
|
7 |
C66236852 |
10593050 |
Axis Bank Limited |
21/09/2015 |
23/09/2015 |
2500000000.0 |
Axis House, C-2, Wadia International Centre,P.B. MARG, WORLIMUMBAIMH400025IN |
|
8 |
C66235482 |
10593326 |
Aditya Birla Finance Ltd. |
21/09/2015 |
23/09/2015 |
750000000.0 |
Indian Rayon CopmoundVERAVALGJ362266IN |
|
9 |
C66893868 |
10595042 |
EXPORT IMPORT BANK OF INDIA |
21/09/2015 |
23/09/2015 |
1250000000.0 |
Centre 1 building, floor 21, World Trade CentreComplex, cuffe paradeMUMBAIMH400005IN |
|
10 |
C58150657 |
10576566 |
ICICI BANK LIMITED |
17/06/2015 |
22/06/2015 |
3000000000.0 |
ICICI BANK TOWERSBANDRA KURLA COMPLEX BANDRA (EAST)MUMBAIMH400051IN |
STATEMENT OF STANDALONE UNAUDITED FINANCIAL
RESULTS
FOR THE QUARTER ENDED 30TH SEPTEMBER 2017
(INR In Million)
|
Particulars |
Quarter Ended 30.09.2017 Unaudited |
Quarter Ended 30.06.2017 Unaudited |
Half Year Ended 30.09.2017 Unaudited |
|
|
|
|
|
|
Income from Operations |
|
|
|
|
a) Net Sales / Income
from Operations |
17915.300 |
22095.400 |
40010.700 |
|
b) Other Operating Income |
301.600 |
684.400 |
986.000 |
|
Other Income |
228.800 |
232.000 |
460.800 |
|
Total Income from
Operations (net) |
18445.700 |
23011.800 |
41457.500 |
|
Expenditure |
|
|
|
|
a) Cost of materials
consumed |
5380.400 |
6196.900 |
11577.300 |
|
b) Purchase of
stock-in-trade |
0.000 |
0.000 |
0.000 |
|
c) Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
(91.800) |
(1161.000) |
(1252.800) |
|
d) Employee benefits
expense |
1654.200 |
1693.400 |
3347.600 |
|
e) Finance Cost |
1193.000 |
1165.600 |
2358.600 |
|
f) Depreciation and
amortisation expense |
797.200 |
768.100 |
1585.300 |
|
g) Other expenses |
|
|
|
|
722.000 |
677.000 |
1399.000 |
|
3606.200 |
4203.100 |
7809.300 |
|
2680.700 |
4029.000 |
6709.700 |
|
0.000 |
2009.200 |
2009.200 |
|
1403.400 |
1494.700 |
2896.100 |
|
Total Expenses |
17345.300 |
21076.000 |
38421.300 |
|
Profit/ (Loss) before exceptional items |
1100.400 |
1935.800 |
3036.200 |
|
Exceptional Items |
-- |
-- |
-- |
|
Profit /(Loss) before tax from continuing operation |
1100.400 |
1935.800 |
3036.200 |
|
Tax
expenses |
|
|
|
|
Current
Tax |
-- |
-- |
-- |
|
Deferred
Tax |
345.000 |
666.200 |
1011.200 |
|
Net
Profit / (Loss) for the period from continuing operation |
755.400 |
1269.600 |
2025.000 |
|
|
|
|
|
|
Discontinuing
Operation |
|
|
|
|
Profit/ loss before
continuing operation |
(101.000) |
(102.800) |
(203.800) |
|
Loss on measurement to
net reliable value |
(181.200) |
- |
(181.200) |
|
Tax expenses debit /
credit continuing operation |
54.600 |
35.600 |
90.200 |
|
Net
profit for the period from discontinuing operation |
(227.600) |
(67.200) |
(294.800) |
|
Net
profit for the period |
527.600 |
1202.400 |
1730.200 |
|
Other
Comprehensive Income |
|
|
|
|
i)
Item that will not reclassified to profit or loss |
(262.400) |
54.900 |
(207.5009) |
|
ii)
Income tax |
- |
- |
- |
|
(64.300) |
(86.800) |
(151.100) |
|
21.900 |
30.000 |
51.900 |
|
Total
Other Comprehensive Income tax for the period |
(304.800) |
(1.900) |
(306.700) |
|
Total
Comprehensive Income for the period |
223.000 |
1200.500 |
14223.500 |
|
Paid-up equity share
capital (Face Value of Rs. 10 per share) |
1116.900 |
1116.900 |
1116.900 |
|
Other Equity |
|
|
|
|
Earning
Per Share |
|
|
|
|
Basic & Diluted
Earnings Per Share – continuing operation |
6.76 |
11.37 |
18.13 |
|
Basic & Diluted
Earning Per Share – Discontinuing operation |
(2.04) |
(0.60) |
(2.64) |
|
Basic
& Diluted Earning Per Share |
4.72 |
10.77 |
16.49 |
SEGMENT WISE REVENUE, RESULTS AND CAPITAL
EMPLOYED
FOR THE QUARTER ENDED 30TH JUNE
2017
(INR In Million)
|
Particulars |
Quarter Ended 30.09.2017 |
Quarter Ended 30.06.2017 |
Half Year Ended 30.06.2017 |
|
Particulars |
|
|
|
|
Segment Revenue |
|
|
|
|
Textiles |
3841.300 |
3809.900 |
7651.200 |
|
Cement |
8361.400 |
12637.100 |
20998.500 |
|
Pulp and Paper |
5395.900 |
5256.800 |
10652.700 |
|
Real Estate |
331.400 |
308.100 |
639.500 |
|
Others |
241.800 |
299.900 |
541.700 |
|
Total |
18171.800 |
22311.800 |
40483.600 |
|
Less: Inter Segment Revenue |
256.500 |
216.400 |
472.900 |
|
Gross Sales |
17915.300 |
22095.400 |
40010.700 |
|
Add : Sales from discounting operation |
391.400 |
406.500 |
799.900 |
|
Total Sales |
18306.700 |
22503.900 |
40810.600 |
|
|
|
|
|
|
Segment Results |
|
|
|
|
Textiles |
508.900 |
368.700 |
877.600 |
|
Cement |
488.800 |
1701.000 |
2189.800 |
|
Pulp and Paper |
1048.800 |
880.600 |
1929.400 |
|
Real Estate |
181.300 |
114.100 |
295.400 |
|
Others |
53.300 |
36.900 |
90.200 |
|
Total Segment
Results |
2281.100 |
3101.300 |
5382.400 |
|
Less: Inter Segment (Profit)/ Loss |
0.200 |
(5.200) |
(5.000) |
|
Total |
2281.300 |
3096.100 |
5377.400 |
|
Finance Costs |
1193.000 |
1165.600 |
2359.600 |
|
Other un-allocable expenditure net of allocable Income (Including exceptional Items) |
(12.100) |
(5.300) |
(17.400) |
|
Total Profit Before
Tax |
1100.400 |
1935.800 |
3036.200 |
|
Less: loss from discontinuing operation |
(282.200) |
(102.800) |
(385.000) |
|
Total Profit before
Tax |
818.200 |
1833.000 |
2651.200 |
|
|
|
|
|
|
Segment Assets |
|
|
|
|
Textiles |
12199.200 |
11717.600 |
12199.200 |
|
Cement |
41933.300 |
40858.500 |
41933.300 |
|
Pulp and Paper |
32327.300 |
32787.400 |
32327.300 |
|
Real Estate |
14586.900 |
14662.200 |
14586.900 |
|
Others |
662.500 |
802.700 |
662.500 |
|
Total Segment
Assets |
101709.200 |
100828.400 |
101709.200 |
|
Textiles |
134.500 |
631.300 |
134.500 |
|
Unallocable Assets |
5269.600 |
4822.200 |
52696 |
|
Total Asset |
107113.300 |
106081.900 |
107113.300 |
|
|
|
|
|
|
Segment Liabilities |
|
|
|
|
Textiles |
3530.900 |
3101.500 |
3530.900 |
|
Cement |
12962.400 |
10865.200 |
12962.400 |
|
Pulp and Paper |
5610.000 |
5657.500 |
5610.000 |
|
Real Estate |
1289.200 |
1306.600 |
1289.200 |
|
Others |
223.600 |
212.300 |
223.600 |
|
Total Segment
Liabilities |
23616.100 |
21143.100 |
23616.100 |
|
|
|
|
|
|
Textiles |
157.500 |
527.900 |
157.500 |
|
Unallocable Assets |
57837.600 |
58391.800 |
57837.600 |
|
Total Asset |
81611.200 |
80062.800 |
81611.200 |
Notes :
- The above
results have been review and recommended for adoption by the audit committee
to the Board of Directors and have been approved by the Board at its
meeting held on November 6, 2017. The result for the quarter ended
September 30, 2017 have been subjected to limited review by the company
statutory auditor.
- The
Company has filed an appeal competition Appellate Tribunal against the
order of competition of india and as per the directions of COMPAT has
deposited INR 274.000 Million being 10% of the penalty imposed by cci. The
company believes it has a good case and accordingly no provision has been
recognizes in the financial results.
- The
figures for the quarter ended and six months ended September 30,2016 have
been restarted to incorporated the effect of accounting of government
Grant recognizes in the quarter ended March 31, 2017. Consequently, profit
after tax for the quarter ended and six months and six months ended
September 30, 2016 is higher by INR 34.400 Million and INR 89.8000 Million
respective as compared to the published result approved by the board.
- During
the quarter ended June 30, 2017, the company has recognized an income of
INR 284.6000 million on account of revision in estimates of future cash
flows based on actual realization of government grants.
STATEMENT OF UNAUDITED STANDALONE ASSETS AND LIABILITIES AS ON 30.09.2017
(INR in Million)
|
SOURCES
OF FUNDS |
|
|
30.09.2017 |
|
|
|
Unaudited |
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)
Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
1116.900 |
|
(b) Reserves & Surplus |
|
|
24385.200 |
|
(c) Money received against
share warrants |
|
|
0.000 |
|
|
|
|
|
|
(d)
Share Application Money Pending Allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds |
|
|
25502.100 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
33094.300 |
|
(b) Deferred tax liabilities
(Net) |
|
|
1495.700 |
|
(c) Other long term
liabilities |
|
|
1949.900 |
|
(d) long-term provisions |
|
|
0.000 |
|
Total
Non-current Liabilities |
|
|
36539.900 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
14640.000 |
|
(b) Trade payables |
|
|
7189.100 |
|
(c) Other current liabilities |
|
|
18540.300 |
|
(d) Short-term provisions |
|
|
4544.400 |
|
Total
Current Liabilities |
|
|
44913.800 |
|
|
|
|
|
|
Liabilities directly associated with assets classified as held
for sale |
|
|
157.500 |
|
|
|
|
|
|
TOTAL |
|
|
107113.300 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
70757.400 |
|
(ii) Intangible Assets |
|
|
33.500 |
|
(iii) Capital work-in-progress |
|
|
594.600 |
|
(iv) Intangible assets under
development |
|
|
1469.800 |
|
(b) Non-current Investments |
|
|
2375.500 |
|
(c) Deferred tax assets (net) |
|
|
400.900 |
|
(d) Long-term Loan and
Advances |
|
|
0.000 |
|
(e) Other Non-current assets |
|
|
3773.100 |
|
Total
Non-Current Assets |
|
|
79404.800 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
1010.000 |
|
(b) Inventories |
|
|
14327.400 |
|
(c) Trade receivables |
|
|
6900.800 |
|
(d) Cash and cash equivalents |
|
|
815.600 |
|
(e) Short-term loans and advances |
|
|
0.000 |
|
(f) Other current assets |
|
|
4455.600 |
|
Total Current Assets |
|
|
27509.400 |
|
|
|
|
|
|
Assets classified as held for sale |
|
|
199.100 |
|
|
|
|
|
|
TOTAL |
|
|
107113.300 |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Equipments
·
Office Equipment
·
Furniture and Fixture
·
Vehicles
·
Electric Installation
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 63.53 |
|
|
1 |
INR 86.05 |
|
Euro |
1 |
INR 76.53 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
TRUP |
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 |
YES |
|
--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.