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MIRA INFORM REPORT
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Report No. : |
487606 |
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Report Date : |
22.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
J. K. CEMENT LIMITED |
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Registered
Office : |
Kamla Tower, Kanpur – 208001, Uttar Pradesh |
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Tel. No.: |
91-512-2371478-81 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
24.11.1994 |
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Com. Reg. No.: |
20-017199 |
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Capital
Investment / Paid-up Capital : |
INR 699.272
Million |
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CIN No.: [Company Identification
No.] |
L17229UP1994PLC017199 |
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GST No.: |
09AABCJ0355R1Z5 [Kanpur] |
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TIN No.: |
09741401377 |
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IEC No.: |
0605000158 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCJ0355R |
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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 and Grinding of Cements and Cement Related Products like Grey
Cement, White Cement, Wall Putty, Water Proof Compound, etc. [Registered
Activity] |
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No. of Employees
: |
2855 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Maximum Credit Limit : |
USD 54866000 |
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Status : |
Excellent |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1994. The company is a
manufacturer of cement. As per the financial of 2017, the company has achieved 7.01% in its revenue
as compared to the previous year along with profitability margin of 5.87%. The rating takes into consideration the strong financial position of
the company marked by robust networth base along with acceptable debt level
and fair liquidity position. Rating takes into consideration the company’s favourable Earnings per
share [EPS] of INR 37.12 as against its Face Value of INR 10.00. Business is active. Payments are reported to be usually correct. In view of sound financial position of the company, it can be
considered good for normal business dealings at usual trade terms and
conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term Loans = AA |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
14.09.2017 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term Loans = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
14.09.2017 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
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 22.01.2018
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.
LOCATIONS
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Registered/ Corporate Office : |
Kamla Tower, Kanpur – 208001, Uttar Pradesh, India |
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Tel. No.: |
91-512-2371478-81 |
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Fax No.: |
91-512-2399854 |
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E-Mail : |
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Website : |
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Grey Cement Works : |
NIMBAHERA Nimbahera Kailash Nagar - 1, District Chittorgarh – 312617, Rajasthan, India Phone – 91-1477-220087 MANGROL Mangrol, Tehsil Nimbahera Dist - Chittorgarh, Rajasthan, India Phone – 91-1477-246324 MUDHOL Muddapur Taluk Mudhol, District Bagalkot – 587122, Karnataka, India Phone – 91-8350-289000 Fax – 91-8350-280710 GOTAN P.O. Gotan, District Nagaur - 342902, Rajasthan, India Phone – 91-1591-230201 Fax – 91-1591-230206 JHARLI (GRINDING
UNIT) P.O – Jharli, District Jhajjar - 124106, Haryana, India |
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White Cement Works
: |
GOTAN Gotan - 342902, District Nagaur, Rajasthan, India Phone – 91-1591-230201 Fax – 91-1591-230206 |
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Power Plants : |
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Waste Heat Recovery
Power Plant : |
· Kailash Nagar, Nimbahera, District Chittorgarh, Rajasthan, India ·
Mangrol, District Chittorgarh, Rajasthan,
India |
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Central Marketing
Offices : |
NORTH (White Cement
& Grey Cement) Padam Tower, Plot No. 19, DDA Community Center, Phase - 1, Okhla, New Delhi – 110020, India SOUTH (Grey Cement) 4th floor, Krsna Chambers, Plot No. 11, Galaxy Garden, North Main Road, Koregaon Park, Pune-411001, Maharashtra, India |
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Branch Offices : |
White Cement · Guntur · Patna · Raipur · Delhi · Ahmedabad · Gurgaon · Jammu · Bangalore · Kochi · Bhopal · Indore · Mumbai · Pune · Kathmandu · Chandigarh · Ludhiana · Jaipur · Chennai · Trichy · Hyderabad · Agra · Ghaziabad · Kanpur · Lucknow · Kolkata Grey Cement · Goa · Ahmedabad · Gurgaon · Bangalore · Belgaum · Belgavi · Raichur · Mangalore · Hubli · Malappuram · Indore · Aurangabad · Kolhapur · Pune · Solapur · Chandigarh · Jaipur · Jodhpur · Ghaziabad · Dehradun |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Ms. Yadupati Singhania |
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Designation : |
Managing Director |
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Address : |
11, Ganga Kuti, Cantonment, Kanpur - 208004, Uttar Pradesh, India |
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Date of Appointment : |
24.11.1994 |
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DIN No.: |
00050364 |
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Name : |
Mr. Paul Heinz Hugentobler |
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Designation : |
Director |
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Address : |
Eschenweg 10, Ch-8645, Jona, Jona, 000000, Switzerland |
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Date of Appointment : |
17.05.2014 |
|
DIN No.: |
00452691 |
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|
|
|
Name : |
Mr. Kailash Nath Khandelwal |
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Designation : |
Director |
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Address : |
50, Mig Bunglow, W-Block, Juhi, Keshav Nagar, Kanpur - 208014, Uttar Pradesh, India |
|
Date of Appointment : |
09.02.2004 |
|
DIN No.: |
00037250 |
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|
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|
Name : |
Mr. Jayant Narayan Godbole |
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Designation : |
Director |
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Address : |
604/A, Cottage Land CHS, Plot 16/A, Sector 19/A, Nerul (East), Navi Mumbai - 400706, Maharashtra, India |
|
Date of Appointment : |
29.07.2006 |
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DIN No.: |
00056830 |
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Name : |
Mr. Achintya Karati |
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Designation : |
Director |
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Address : |
29/203, East End Apartments, Mayur Vihar Phase - I Extension, Delhi - 110096, India |
|
Date of Appointment : |
24.10.2005 |
|
DIN No.: |
00024412 |
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|
|
|
Name : |
Mr. Krishna Behari Agarwal |
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Designation : |
Director |
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Address : |
7/177-B, Swaroop Nagar, Kanpur - 208001, Uttar Pradesh, India |
|
Date of Appointment : |
25.08.2007 |
|
DIN No.: |
00339934 |
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|
|
|
Name : |
Mr. Raj Kumar Lohia |
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Designation : |
Director |
|
Address : |
113/91, Swaroop Nagar, Kanpur - 208002, Uttar Pradesh, India |
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Date of Appointment : |
30.09.2004 |
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DIN No.: |
00203659 |
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|
Name : |
Mr. Suparas Bhandari |
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Designation : |
Director |
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Address : |
A-348, Shastri Nagar ,A Sector, Ward Sankhya 19, Jodhpur 342003, Rajasthan, India |
|
Date of Appointment : |
29.07.2006 |
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DIN No.: |
00159637 |
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|
|
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Name : |
Mrs. Sushila Devi Singhania |
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Designation : |
Director |
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Address : |
11, Ganga Kuti, Cantts., Kanpur - 208004, Uttar Pradesh, India |
|
Date of Appointment : |
26.07.2014 |
|
DIN No.: |
00142549 |
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|
|
|
Name : |
Mr. Shyam Lal Bansal |
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Designation : |
Additional Director |
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Address : |
136, Urban Estate, Phase No. II, Jalandhar - 144001, Punjab, India |
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Date of Appointment : |
06.02.2016 |
|
DIN No.: |
02910086 |
KEY EXECUTIVES
|
Name : |
Mr. Shambhu Singh |
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Designation : |
Secretary |
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Address : |
744, Madhyampara, Naskarhat, Tiljala, Kolkata - 700039, West Bengal, India |
|
Date of Appointment : |
21.07.2008 |
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PAN No : |
ALUPS1039E |
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|
Name : |
Mr. Ajay Kumar Saraogi |
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Designation : |
CFO (KMP) |
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Address : |
2A/175, Azad Nagar, Kanpur - 208002, Uttar Pradesh, India |
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Date of Appointment : |
26.07.2014 |
|
PAN No : |
ACCPS4027R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.12.2017
|
Category of
shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares (calculated as per SCRR,
1957)As a % of (A+B+C2) |
|
(A) Promoter & Promoter Group |
44866571 |
64.16 |
|
(B) Public |
25060679 |
35.84 |
|
Grand
Total |
69927250 |
100.00 |
Statement showing
shareholding pattern of the Promoter and Promoter Group
|
Category of
shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares (calculated as per SCRR,
1957)As a % of (A+B+C2) |
|
|
A1) Indian |
0.00 |
||
|
Individuals/Hindu undivided Family |
1,44,68,859 |
20.69 |
|
|
Sushila Devi Singhania |
9,20,957 |
1.32 |
|
|
Gaur Hari Singhania Jointly with Vasantlal
D.Mehta &Raghubir Prasad Singhania |
20 |
0.00 |
|
|
Yadupati Singhania |
1,20,64,198 |
17.25 |
|
|
Kavita Y Singhania |
13,05,452 |
1.87 |
|
|
Kalpana Singhania |
4,263 |
0.01 |
|
|
Manorama Devi Singhania |
31,465 |
0.04 |
|
|
Nidhipati Singhania |
33,428 |
0.05 |
|
|
Ramapati Singhania |
49,662 |
0.07 |
|
|
Abhishek Singhania |
58,994 |
0.08 |
|
|
Madhav Krishna Singhania |
210 |
0.00 |
|
|
Raghavpat Singhania |
210 |
0.00 |
|
|
Any Other (specify) |
3,03,97,712 |
43.47 |
|
|
Kailash Nath Khandelwal Jointly with Radha
Rani Khandelwal |
1,000 |
0.00 |
|
|
Radha Rani Khandelwal Jointly with Kailash
Nath Khandelwal |
500 |
0.00 |
|
|
Yadu International Ltd. |
3,01,99,518 |
43.19 |
|
|
J.K.Traders Ltd. |
1,81,254 |
0.26 |
|
|
G.H.Securities Pvt.Ltd. |
20 |
0.00 |
|
|
Yadu Securities Pvt.Ltd. |
40 |
0.00 |
|
|
Ajay Kumar Saraogi |
3,340 |
0.00 |
|
|
Pushpa Saraogi |
5,040 |
0.01 |
|
|
Amrita Saraogi |
3,000 |
0.00 |
|
|
Anil Kumar Agrawal |
3,940 |
0.01 |
|
|
Prashant Seth |
20 |
0.00 |
|
|
Satish Kumar Agarwal |
40 |
0.00 |
|
|
Sub Total A1 |
4,48,66,571 |
64.16 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
4,48,66,571 |
64.16 |
Statement showing
shareholding pattern of the Public shareholder
|
Category & Name
of the Shareholders |
Shareholding % calculated as per SCRR, 1957 As a % of (A+B+C2) |
No of Voting Rights |
|
|
B1) Institutions |
0.00 |
||
|
Mutual Funds/ |
12.67 |
88,61,651 |
|
|
Franklin Templetion Mutual Fund A/c |
1.74 |
12,17,476 |
|
|
Alternate Investment Funds |
0.00 |
2,831 |
|
|
Foreign Portfolio Investors |
10.54 |
73,72,403 |
|
|
Fidellity Investment Trust Fidelity Series |
3.36 |
23,48,328 |
|
|
Franklin Templeton Investment Funds |
3.08 |
21,56,965 |
|
|
Templeton Global Investment Trust-TEM |
1.09 |
7,61,388 |
|
|
Financial Institutions/ Banks |
0.03 |
24,355 |
|
|
Insurance Companies |
4.02 |
28,10,351 |
|
|
Gereral Insurance Corporation of India |
1.00 |
7,00,060 |
|
|
HDFC Standard Life Insurance Co. |
2.73 |
19,09,605 |
|
|
Any Other (specify) |
0.04 |
28,696 |
|
|
Foreign Institutional Investors |
0.04 |
28,696 |
|
|
Sub Total B1 |
27.31 |
1,91,00,287 |
|
|
B2) Central Government/ State Government(s)/ President of India |
0.00 |
||
|
B3) Non-Institutions |
0.00 |
||
|
Individual share capital upto INR 0.200 Million |
4.87 |
34,07,602 |
|
|
Individual share capital in excess of INR 0.200 Million |
1.69 |
11,84,000 |
|
|
Any Other (specify) |
1.96 |
13,68,790 |
|
|
Bodies Corporate |
1.41 |
9,86,207 |
|
|
NRI – Repat |
0.16 |
1,09,959 |
|
|
NRI – Non- Repat |
0.07 |
46,621 |
|
|
Foreign Individuals |
0.00 |
200 |
|
|
Trusts |
0.00 |
2,363 |
|
|
Unclaimed or Suspense or Escrow Account |
0.00 |
160 |
|
|
Societies |
0.16 |
1,12,411 |
|
|
Clearing Members |
0.08 |
58,100 |
|
|
Overseas corporate bodies |
0.08 |
52,703 |
|
|
Enemy Property |
0.00 |
66 |
|
|
Sub Total B3 |
8.52 |
59,60,392 |
|
|
B=B1+B2+B3 |
35.84 |
2,50,60,679 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Grinding of Cements and Cement Related
Products
like Grey Cement, White Cement, Wall Putty, Water Proof Compound, etc. [Registered
Activity] |
|
|
|
|
Brand Names : |
· JK Super · JK White Cement · JK Wall Putty · JK Waterproof · JK Primaxx ·
JK Super Grip, etc. |
|
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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 : |
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Selling : |
Not Divulged |
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|
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Purchasing : |
Not Divulged |
PRODUCTION STATUS (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
2855 (Approximately) |
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Bankers : |
· Indian Bank · IDBI Trusteeship Services Limited · State Bank of India · Export Import Bank of India · Allahabad Bank |
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Facilities : |
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Auditors : |
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|
Name : |
P.L. Tandon and Company Chartered Accountants |
|
Address : |
Kanpur, Uttar Pradesh, India |
|
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|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
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|
Parties where the
control/significant influence exists : |
Yadu International Limited |
|
|
|
|
Enterprises
significantly influenced by Key Management Personnel or their Relatives: |
· Jaykay Enterprises Limited · J.K. Cotton Limited · Jaykaycem (Eastern) Limited · J.K.Cement(Western) Limited |
|
|
|
|
Subsidiary
Companies : |
· J.K. Cement (Fujairah) FZC (Holding Company of J.K. Cement Works (Fujairah) FZC) · J.K. Cement Works (Fujairah) FZC · Jaykaycem (Central) Limited |
|
|
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|
Joint Venture : |
Bander Coal Company Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
80000000 |
Equity Shares |
INR 10/- each |
INR 800.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
69927250 |
Equity Shares |
INR 10/- each |
INR 699.272
Million |
|
|
|
|
|
Terms and rights
attached to equity shares
Each holder of equity shares is entitled to one vote per share. 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 number of equity shares held by the shareholders. There is no restriction on distribution of dividend. However, same is subject to the approval of the shareholders in the Annual General Meeting.
Reconciliation of
number of shares outstanding at the beginning and end of the year
|
|
Number of Shares |
Amount in Million |
|
Outstanding at the 31 March 2016 |
69927250 |
699.272 |
|
Equity Shares issued during the year in consideration for cash |
|
-- |
|
Outstanding at the 31 March 2017 |
69927250 |
699.272 |
Shareholders holding
more than 5% shares in the company
|
|
Number of Shares |
% |
|
Yadu International Limited |
29949518 |
42.83% |
|
Yadupati Singhania |
12284198 |
17.57% |
FINANCIAL DATA
[all figures are
in 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 |
699.272 |
699.272 |
699.272 |
|
(b) Reserves & Surplus |
18503.876 |
16203.670 |
15486.367 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
19203.148 |
16902.942 |
16185.639 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
23184.563 |
23022.615 |
21521.886 |
|
(b) Deferred tax liabilities (Net) |
2140.144 |
2165.225 |
2074.720 |
|
(c)
Other long term liabilities |
2294.308 |
1962.739 |
1773.923 |
|
(d)
long-term provisions |
223.799 |
182.853 |
165.947 |
|
Total
Non-current Liabilities (3) |
27842.814 |
27333.432 |
25536.476 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
1657.724 |
1949.940 |
2618.931 |
|
(b)
Trade payables |
2051.796 |
2806.466 |
2292.576 |
|
(c)
Other current liabilities |
7448.932 |
6504.691 |
5941.730 |
|
(d)
Short-term provisions |
160.160 |
140.528 |
140.005 |
|
Total
Current Liabilities (4) |
11318.612 |
11401.625 |
10993.242 |
|
|
|
|
|
|
TOTAL |
58364.574 |
55637.999 |
52715.357 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
36744.595 |
35205.603 |
33297.522 |
|
(ii)
Intangible Assets |
55.698 |
19.976 |
19.751 |
|
(iii)
Capital work-in-progress |
1048.245 |
1524.046 |
1911.798 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
4703.788 |
3732.662 |
2871.568 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
0.000 |
0.000 |
0.000 |
|
(e)
Other Non-current assets |
2315.071 |
2651.572 |
1723.498 |
|
Total
Non-Current Assets |
44867.397 |
43133.859 |
39824.137 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
652.600 |
633.779 |
322.471 |
|
(b)
Inventories |
4980.698 |
4289.312 |
5097.854 |
|
(c)
Trade receivables |
1481.342 |
1656.939 |
1394.046 |
|
(d)
Cash and cash equivalents |
4188.422 |
3684.468 |
3846.875 |
|
(e)
Short-term loans and advances |
452.182 |
568.722 |
314.597 |
|
(f)
Other current assets |
1741.933 |
1670.920 |
1915.377 |
|
Total
Current Assets |
13497.177 |
12504.140 |
12891.220 |
|
|
|
|
|
|
TOTAL |
58364.574 |
55637.999 |
52715.357 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
44207.071 |
41311.944 |
33571.672 |
|
|
|
Other Income |
511.868 |
571.059 |
513.548 |
|
|
|
TOTAL (A) |
44718.939 |
41883.003 |
34085.220 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
6955.272 |
6657.974 |
5562.012 |
|
|
|
Purchases of Stock-in-Trade |
9.250 |
15.178 |
10.394 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
-32.567 |
82.886 |
-9.484 |
|
|
|
Employees benefits expense |
2754.554 |
2348.588 |
2025.424 |
|
|
|
Other expenses |
27177.518 |
27008.420 |
21345.145 |
|
|
|
Exceptional Items |
193.162 |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
37057.189 |
36113.046 |
28933.491 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
7661.750 |
5769.957 |
5151.729 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2656.475 |
2707.471 |
2194.227 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5005.275 |
3062.486 |
2957.502 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1760.958 |
1641.162 |
1365.963 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3244.317 |
1421.324 |
1591.539 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
648.553 |
388.074 |
22.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2595.764 |
1033.250 |
1569.239 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (INR) |
37.12 |
14.78 |
22.44 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
1931.845 |
1454.472 |
1865.140 |
|
|
|
|
|
|
Cash Generated from operations |
8153.740 |
6192.906 |
4899.692 |
|
|
|
|
|
|
Net Cash from Operating Activities |
7550.507 |
5887.344 |
4342.000 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
12.23 |
14.64 |
15.16 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
29.84 |
24.93 |
24.08 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
107.53 |
153.50 |
150.17 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.54 |
1.35 |
1.01 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.20 |
0.16 |
0.15 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.62 |
0.64 |
0.65 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.39 |
1.56 |
1.61 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.59 |
0.67 |
0.68 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.97 |
2.17 |
2.18 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.88 |
2.13 |
2.35 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
5.87 |
2.50 |
4.67 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
4.45 |
1.86 |
2.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
13.52 |
6.11 |
9.70 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.19 |
1.10 |
1.17 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.75 |
0.72 |
0.71 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.33 |
0.30 |
0.31 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
38.29 |
37.79 |
37.19 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.19 |
1.10 |
1.17 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10.00/- |
|
|
|
|
Market Value |
INR 1123.95/- |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
699.272 |
699.272 |
699.272 |
|
Reserves & Surplus |
15486.367 |
16203.670 |
18503.876 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
16185.639 |
16902.942 |
19203.148 |
|
|
|
|
|
|
Long-term borrowings |
21521.886 |
23022.615 |
23184.563 |
|
Short term borrowings |
2618.931 |
1949.940 |
1657.724 |
|
Current Maturities of Long term debt |
1865.140 |
1454.472 |
1931.845 |
|
Total
borrowings |
26005.957 |
26427.027 |
26774.132 |
|
Debt/Equity ratio |
1.607 |
1.563 |
1.394 |
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 |
33571.672 |
41311.944 |
44207.071 |
|
|
|
23.056 |
7.008 |
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 |
33571.672 |
41311.944 |
44207.071 |
|
Profit |
1569.239 |
1033.250 |
2595.764 |
|
|
4.67% |
2.50% |
5.87% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
CHARGES REGISTERED |
||||||||
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G59899419 |
100081217 |
INDIAN BANK |
10/02/2017 |
10/10/2017 |
- |
250000000.0 |
NEW DELHI MAIN BRANCHG-41,CONNAUGHT CIRCUS,NEW DELHINEW DELHIDL110011IN |
|
2 |
G36229219 |
100052919 |
IDBI TRUSTEESHIP SERVICES LIMITED |
15/09/2016 |
03/02/2017 |
- |
12000000000.0 |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,BALLARD ESTATE,MUMBAIMH400001IN |
|
3 |
G05647656 |
100016726 |
IDBI TRUSTEESHIP SERVICES LIMITED |
08/03/2016 |
01/06/2016 |
- |
952551257.0 |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,BALLARD ESTATE,MUMBAIMH400001IN |
|
4 |
C79846390 |
10598528 |
STATE BANK OF INDIA |
28/09/2015 |
28/01/2016 |
- |
1000000000.0 |
15/54-B, VIRENDRA SMRITI COMPLEX,CIVIL LINES,KANPURUP208001IN |
|
5 |
C51418291 |
10563214 |
IDBI TRUSTEESHIP SERVICES LIMITED |
17/04/2015 |
21/04/2015 |
- |
1000000000.0 |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,BALLARD ESTATE,MUMBAIMH400001IN |
|
6 |
C81894826 |
10560373 |
EXPORT IMPORT BANK OF INDIA |
26/03/2015 |
17/02/2016 |
- |
1000000000.0 |
CENTRE ONE BUILDING, FLOOR 21WORLD TRADE CENTRE COMPLEX,CUFFE PARADEMUMBAIMH400005IN |
|
7 |
C42962811 |
10489180 |
EXPORT-IMPORT BANK OF INDIA |
27/03/2014 |
21/11/2014 |
- |
500000000.0 |
CENTRE ONE BUILDING, FLOOR 21WORLD TRADE CENTRE COMPLEX,CUFFE PARADEMUMBAIMH400005IN |
|
8 |
B88624267 |
10456043 |
IDBI TRUSTEESHIP SERVICES LIMITED |
15/10/2013 |
17/10/2013 |
- |
2000000000.0 |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,BALLARD ESTATE,MUMBAIMH400001IN |
|
9 |
B90297615 |
10452664 |
ALLAHABAD BANK |
03/09/2013 |
20/11/2013 |
- |
250000000.0 |
INDUSTRIAL FINANCE BRANCHPARLIAMENT STREET, 17, FIRST FLOOR,NEW DELHIDL110001IN |
|
10 |
B90389966 |
10429556 |
STATE BANK OF INDIA |
14/05/2013 |
07/11/2013 |
- |
500000000.0 |
15/54-B, VIRENDRA SMRITI COMPLEX,CIVIL LINES,KANPURUP208001IN |
|
11 |
B86747342 |
10365235 |
EXPORT-IMPORT BANK OF INDIA |
04/07/2012 |
26/09/2013 |
- |
250000000.0 |
CENTRE ONE BUILDING, FLOOR 21WORLD TRADE CENTER , CUFFE PARADEMUMBAIMH400005IN |
|
12 |
B87247813 |
10361253 |
STATE BANK OF INDIA |
31/05/2012 |
10/09/2013 |
- |
750000000.0 |
OVERSEAS BRANCH, 15/54-B, VIRENDRA SMRITI COMPLEXCIVIL LINESKANPURUP208001IN |
|
13 |
G70787320 |
10309873 |
ALLAHABAD BANK |
12/09/2011 |
27/11/2017 |
- |
6750000000.0 |
INDUSTRIAL FINANCE BRANCH, GROUND FLOOR,17, PARLIAMENT STREET,NEW DELHIDL110001IN |
|
14 |
C81772949 |
10281183 |
IDBI TRUSTEESHIP SERVICES LIMITED |
15/04/2011 |
16/02/2016 |
- |
1150000000.0 |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,BALLARD ESTATE,MUMBAIMH400001IN |
|
15 |
B85526234 |
10259999 |
IDBI BANK LIMITED |
20/12/2010 |
11/09/2013 |
- |
300000000.0 |
IDBI TOWERWTC COMPLEXCUFFE PARADEMUMBAIMH400005IN |
|
16 |
B83850826 |
10227478 |
IDBI TRUSTEESHIP SERVICES LIMITED |
08/07/2010 |
16/08/2013 |
- |
2500000000.0 |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,BALLARD ESTATE,MUMBAIMH400001IN |
|
17 |
G74041971 |
10312294 |
INDIAN BANK |
23/09/2011 |
14/10/2016 |
17/01/2018 |
400000000.0 |
NEW DELHI, MAIN BRANCHG-41, CONNAUGHT CIRCUS,NEW DELHIDL110001IN |
|
18 |
G73167785 |
10219570 |
ALLAHABAD BANK |
06/05/2010 |
19/08/2013 |
06/01/2018 |
700000000.0 |
IFB BRANCH, 1ST FLOOR,17, PARLIAMENT STREETNEW DELHIDL110001IN |
|
19 |
G69049054 |
10512081 |
CANARA BANK |
10/07/2014 |
17/10/2014 |
21/11/2017 |
500000000.0 |
SPECIALISED PRIME CORPORATE BRANCHMAKER TOWER, "F" WING, 20TH FLOOR, CUFFE PARADE,MUMBAIMH400005IN |
|
20 |
G49138795 |
10361402 |
DENA BANK |
06/06/2012 |
19/08/2013 |
20/07/2017 |
500000000.0 |
24/57, BIRHANA ROADKANPURUP208001IN |
|
21 |
G22182349 |
10422959 |
IDBI TRUSTEESHIP SERVICES LIMITED |
08/04/2013 |
17/10/2013 |
08/11/2016 |
12000000000.0 |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,BALLARD ESTATE,MUMBAIMH400001IN |
|
22 |
G12490280 |
10075822 |
IDBI BANK LIMITED |
15/10/2007 |
26/11/2014 |
12/09/2016 |
5250000000.0 |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,BALLARD ESTATE,MUMBAIMH400001IN |
|
23 |
G12490033 |
10191010 |
IDBI TRUSTEESHIP SERVICES LIMITED |
07/12/2009 |
26/11/2014 |
12/09/2016 |
900000000.0 |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,BALLARD ESTATE,MUMBAIMH400001IN |
|
24 |
C54439070 |
10213494 |
ING VYSYA BANK LIMITED |
16/04/2010 |
- |
06/05/2015 |
500000000.0 |
NARAIN MANZIL, GROUND FLOOR SHOP NO. G1 TO G5I FLOOR,SHOP NO.1001 TO 1007 BARAKHAMBA ROADNEW DELHIDL110001IN |
|
25 |
C28261469 |
90276005 |
IDBI BANK LIMITED |
01/11/2004 |
11/09/2013 |
24/09/2014 |
1250000000.0 |
IDBI TOWERWTC COMPLEXCUFFE PARADEMUMBAIMH400005IN |
|
26 |
C27597376 |
10126137 |
IDBI BANK LIMITED |
29/09/2008 |
- |
24/09/2014 |
1250000000.0 |
IDBI TOWERWTC COMPLEXCUFFE PARADEMUMBAIMH400005IN |
|
27 |
C11163391 |
10091895 |
CANARA BANK |
28/02/2008 |
08/07/2008 |
08/07/2014 |
600000000.0 |
CORPORATE SERVICE BRANCH,DALAMAL TOWERS, B WINGS, 1ST FLOOR, NARIMAN POINTMUMBAIMH400021IN |
|
28 |
C11562378 |
10073362 |
CANARA BANK |
16/10/2007 |
07/07/2008 |
08/07/2014 |
600000000.0 |
CORPORATE SERVICE BRANCH,DALAMAL TOWERS, B WINGS, 1ST FLOOR, NARIMAN POINTMUMBAIMH400021IN |
|
29 |
B70679725 |
10114127 |
IDBI BANK LIMITED |
09/07/2008 |
13/11/2009 |
08/03/2013 |
140000000.0 |
IDBI TOWERWTC COMPLEXCUFFE PARADEMUMBAIMH400005IN |
|
30 |
B44698579 |
10169276 |
IDBI BANK LIMITED |
04/08/2009 |
19/01/2011 |
26/07/2012 |
1100000000.0 |
IDBI TOWERWTC COMPLEXCUFFE PARADEMUMBAIMH400005IN |
|
31 |
B39887906 |
80027669 |
ALLAHABAD BANK (LEAD BANK OF CONSORTIUM BANKERS) |
27/12/2005 |
30/11/2009 |
17/05/2012 |
2150000000.0 |
INDUSTRIAL FINANCE BRANCH, 1ST FLOOR,17, PARLIAMENT STREETNEW DELHIDL110001IN |
|
32 |
A51420834 |
80047942 |
CORPORATION BANK |
01/11/2004 |
- |
03/11/2008 |
365000.0 |
KIDWAI NAGARKANPURUP208001IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Deferred sales tax liabilities |
500.554 |
488.061 |
|
Less: Current maturities of Deferred sales tax liabilities |
53.168 |
64.834 |
|
|
|
|
|
Total |
447.386 |
423.227 |
PERFORMANCE OF THE
COMPANY
The Company’s performance during the year has overall improved. The
Company’s gross turnover increased by 5.63% to INR 43278.400 Million during the
year compared to INR 40969.800 Million in previous year. Profit before
Depreciation & Tax increased to INR 5005.300 Million compared to INR
3062.500 Million.
PROJECTS OF THE
COMPANY
Projects
undertaken/completed
The company’s Clinker Production Capacity increased by 3.30 lac tons per
annum in Rajasthan Grey Cement plants by Cooler Modification and
De-Bottlenecking/Up-gradations with the total cost of approximately INR 50
Millions. With this the overall grey cement clinker capacity of Rajasthan
Plants stands increase to 54.45 lakh tons per annum.
Based on anticipated growth of 15%, the Company has initiated steps to
expand the second phase white cement based wall putty production capacity from
existing 2 Lakhs M.T. per annum to 4 Lakhs M.T. per annum at J.K. White, Katni.
AWARDS AND
RECOGNITION
Alumnus Award
Mr. Yadupati Sighania, Chairman & Managing Director of J.K. Cement
Ltd. was conferred with distinguished alumnus award by IIT, Kanpur for his
outstanding skills to found & revolutionise White Cement industry in the
country.
Lifetime
Achievement Award, 2016
Mr. Yadupati Singhania, Chairman and Managing Director of J.K. Cement
was conferred with the Lifetime Achievement Award by Indian Cement Review
Awards, for his contribution to the Cement Industry. Mr. Madhavkrishna
Singhania receiving the award on behalf of Mr. Yadupati Singhania.
Best Enterprise,
2016
J.K. Cement Ltd. was awarded as the ‘Best Enterprise’ in the field of
Cement Industry at the Business Assembly Prestigious International Awards in
Cannes, France.
Lifetime
Achievement Award, 2016
Mr. Yadupati Singhania, Chairman and Managing Director of J.K. Cement
was conferred with the Lifetime Achievement Award by Indian Cement Review
Awards, for his contribution to the Cement Industry. Mr. Madhavkrishna
Singhania receiving the award on behalf of Mr. Yadupati Singhania. 2nd Fastest
Growing Company India’s 2nd Fastest Growing Cement Company in the medium
category at Indian Cement Review Awards 2016.
LACP VISION Awards
J.K. Cement’s FY 2015-16 Annual Report was recognised at the 2016 VISION
Awards competition of LACP (League of American Communications Professionals).
The competition was tough with nearly 1200 entries from two dozen countries
competing for the coveted recognition. Top 50 entries have been adjudged ‘World
Class’ and J.K. Cement report was given a ranking of 34 in Top 50.
Pioneer in Rain
Water Harvesting
“Certificate of Appreciation” for its valuable contribution towards Mukhyamantri
Jal Swavalamban Abhiyan 2015 launched by Honourable Chief Minister of
Rajasthan, Ms. Vasundhara Raje for restoration of rain water in Rajasthan.
Outstanding
Performance in CSR Excellence
Honourable Shri Arjun Ram Meghwal – Minister of State for Finance and
Corporate Affairs, India gave away “Outstanding Performance in CSR Excellence
Trophy 2015” to J.K. Cement, Rajasthan for its employee oriented programmes
towards women empowerment, as declared by the Jury of the Employers’
Association.
Energy &
Environment Foundation Global Green Building Award, 2016
The newly constructed building for J.K. Institute of Technology – (
I.T.I.) at Nimbahera has been awarded the prestigious “Energy & Environment
Foundation Global Green Building Award - 2016” in the platinum category
MANAGEMENT
DISCUSSION AND ANALYSIS
INDIAN ECONOMY
The Indian economy has continued to show resilience in the face of
challenging global economic conditions and rising protectionist measures across
the world. The country registered a robust GDP growth of 7.1% in FY 2016-17,
amid several headwinds.
Key indicators
· Inflation: The retail inflation stayed above the comfort zone of 5% till August 2016. However, it started moderating thereafter due to a normal monsoon, dropping to a two-year low of 3.4%. The average inflation for the FY 2016-17 stood at 4.5% (4.9% in FY 2015-16)
· Fiscal deficit: The fiscal deficit as a percentage of GDP stood at 3.5% for 2016-17. This has been revised to 3.2% for 2017-18.
· Current account deficit: The current account deficit as a percentage of GDP stood at 0.9% lowest in the last five years.
· Currency: The Rupee saw a marginal appreciation as it stood at INR 65.9 during 2016-17 (INR 66 in 2015-16).
India has recently emerged as the world’s sixth largest manufacturing
country. Emerging urban clusters are driving this economic momentum. The result
is that more consumers with higher disposable income are helping enhance
India’s economic potential. The country’s economic prospects appear optimistic
with policymakers creating enablers for strong and sustainable growth for the
medium to long term.
On the political front also, the government gained major victories in
many state elections, including the country’s most populous state Uttar
Pradesh. The result will boost Prime Minister Narendra Modi’s economic reform
agenda and market reaction to the outcome was also positive, with the country’s
stock market recording a new high in March 2017 and the rupee strengthening
against US$.
Outlook
India’s growth rate is likely to touch 7.4% in 2017-18, driven by a
rebound in consumption demand following remonetisation. In addition, long-term
consumption growth will be driven by major factors: government reforms across
all sectors of the economy; low interest rates; benign inflation; favourable
demographics (half of the population is below the age of 35), and an expanding
addressable market size (India now has 50 large consumption hubs).
INDUSTRY STRUCTURE
AND DEVELOPMENT
The Indian cement industry having capacity of about 420 Mntpa is
dominated by a few companies. The top 20 cement companies account for almost 70
per cent of the total cement production of the country. On the back of growing
demand, due to increased construction and infrastructural activities, the
cement sector in India has seen many investments and developments in recent
times.
CEMENT INDUSTRY
OVERVIEW
Grey Cement
Though the Industry survived demonetisation shock quicker than expected
but the production of major cement producer shows decline almost after a gap of
15 years. However, in the current year demand is expected to grow at @ 5-6% on
YOY basis on account of various initiatives taken by the Government to boost
infrastructure activities such as allocation for Pradhan Mantri Awaas
Yojana-Gramin of INR 230000.000 Million to complete 1 Million houses by 2019
for the homeless and those living in Kutcha houses.
Further, to promote affordable housing the real estate sector has been
conferred infrastructure status and budget also proposed profit –linked income
tax deduction for promotion of affordable housing considering carpet area
instead of built up area of 30 and 60 Sq. meter. The 30 sq. meter will apply in
case of limits of four metropolitan cities while for the rest of the country
including peripheral areas of metros, limit of 60 sq. meter will apply.
The Prime Minister in his new year’s evening address to the nation
provided for an upfront subsidy to low-cost affordable housing along with an
interest rate subsidy for loans up to INR 0.600 Million. Loans up to INR 0.900
Million will receive an interest subvention of 4 percent while those up to INR
1.200 Million will be eligible for a 3% reduction in applicable interest rates.
Government has also allocated INR 70000.000 Million in FY 2017-18 budget
for development of roads on highways with special emphasis of laying 2000 kms
of coastal roads.
All this will accelerate cement demand which in turn boosts economy at
large. If India needs to perform to augur well with developing nations,
infrastructure development is necessary which is based on steel and cement,
where steel being refereed as the backbone and cement being the blood.
White Cement
White cement is used for decorative and architectural concrete, a key
advantage of using White Cement is that it provides a neutral tinting base and
consistent colour results. Every colour option is possible with it, from pure
whites to bright and pastel colours. White concrete usually takes the form of
pre-cast cladding panels, since it is not economical to use white cement for
structural purposes. White Portland cement is used in combination with
inorganic pigments to produce brightly coloured concretes and mortars. It is
also used as basis input raw material for manufacture of Value Added Wall putty
and Primaxx also.
Besides Grey Cement, company is one of the two manufacturers who are in
White Cement business also. Its product portfolio is further enhanced with
value added Wall Putty and recently launched Primaxx. Expanded capacity,
extensive distribution network, and robust technical know-how have made the
Company one of India’s most reliable cement brand.
PERFORMANCE DURING
THE YEAR
· Grey Cement: Grey cement registered a de-growth of 2% in production volumes over last year. North registered growth of 1% whereas South registered de growth of 9%.
· White Cement: White Cement registered growth of 9% on YOY in production volumes whereas White Cement based Wall Putty registered growth of 14% on YOY basis.
CONTINGENT LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Contingent
liabilities (not provided for) in respect of: |
|
|
|
1. Claim against the Company not acknowledged as debts: |
1970.999 |
1751.927 |
|
Other money for which
the Company is contingently liable |
|
|
|
2. In respect of disputed demands for which Appeals are
pending with Appellate Authorities/Courts – no provision has been considered
necessary by the Management |
|
|
|
a) Excise duty |
166.253 |
173.271 |
|
b) Sales Tax |
88.772 |
315.988 |
|
c) Service Tax |
108.542 |
108.542 |
|
3. In respect of interest on “Cement Retention Price”
realised in earlier years |
123.106 |
121.068 |
|
4. In respect of interest of Rajasthan Entry Tax |
415.061 |
371.882 |
|
5. In respect of penalty of non-lifting of fly Ash |
83.929 |
80.502 |
|
6 The Competition commission of India (CCI) has imposted
penalty of INR 1285.400 Million and INR 92.800 Million in two separate orders
dated 31.08.2016 and 19.01.2017 respectively for alleged contravention of
provisions of the Competition Act 2002 by the Company. The Company has filed
appeals with Competition Appellate Tribunal (COMPAT) against above orders.
COMPAT has stayed the CCI order in first matter on deposit of INR 65.600 Million
and Appeal is being heard. In second matter stayed demand and appeal are yet
to be heard. The Company, backed by a legal opinion, believes that it has a
good case and accordingly no provision has been made in the Accounts. |
1378.200 |
0.000 |
|
7 In respect of demand made by Revenue Department,
Karnataka for conversion of agricultural land into non-agricultural land for
mining purpose |
56.017 |
0.000 |
|
Financial
Guarantees |
|
|
|
8 Corporate guarantees given to Banks for finance provided
to subsidiary Companies. |
5816.857 |
6256.851 |
|
9 Other Financial Guarantees including of Joint Ventures. |
61.389 |
61.389 |
STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER/ HALF YEAR
ENDED 30.09.2017
(INR
IN MILLION)
|
Particulars |
Quarter Ended |
Half Year Ended |
|
|
|
30.09.2017 |
30.06.2017 |
30.09.2017 |
|
Revenue |
|
|
|
|
Revenue from Operations |
11076.808 |
12084.316 |
23161.124 |
|
Other Operating Income |
343.726 |
186.374 |
530.100 |
|
Total Income |
11420.534 |
12270.690 |
23691.224 |
|
|
|
|
|
|
Expenses |
|
|
|
|
(a) Cost of Material Consumed |
1840.613 |
1724.057 |
3564.670 |
|
(b) Purchase of stock in trade |
2.971 |
3.953 |
6.924 |
|
(c) Changes in inventories of finished goods, work in progress
and stock in trade |
71.014 |
51.759 |
122.773 |
|
(d) Excise Duty |
0.000 |
1669.643 |
1669.643 |
|
(e) Employee benefit expenses |
783.031 |
774.937 |
1557.968 |
|
(f) Finance Cost |
633.379 |
680.448 |
1313.827 |
|
(g) Depreciation and amortization expenses |
492.213 |
450.013 |
942.226 |
|
(h) Other Expenses |
931.878 |
1202.739 |
2134.617 |
|
(i) Power and Fuel |
2057.943 |
1803.356 |
3661.299 |
|
(j) Stores and Spares |
824.437 |
704.758 |
1529.195 |
|
(k) Freight and Handling outwards |
2492.826 |
2172.058 |
4664.884 |
|
Total Expenses |
10130.305 |
11237.721 |
21168.026 |
|
|
|
|
|
|
Profit/ Loss before
exceptional items and tax |
1290.229 |
1032.969 |
2323.198 |
|
Exceptional items |
77.650 |
0.000 |
77.650 |
|
Profit/ Loss from
before tax |
1212.579 |
1032.969 |
2545.548 |
|
Current Tax |
280.040 |
220.760 |
500.800 |
|
Deferred
Tax |
1.050 |
18.775 |
19.825 |
|
Net Profit/ Loss from Ordinary Activities after
tax |
931.489 |
793.434 |
1724.923 |
|
Other Comprehensive income, net of income
tax |
0.072 |
0.072 |
0.144 |
|
Total Comprehensive income for the period |
931.561 |
793.506 |
1725.067 |
|
Paid-up Equity Share Capital (Face value of
the share INR 10/- each) |
699.272 |
699.272 |
699.272 |
|
Earnings Per
Share |
|
|
|
|
Basic |
13.32 |
11.35 |
24.67 |
|
Diluted |
13.32 |
11.35 |
24.67 |
STATEMENT
OF ASSETS AND LIABILITIES AS AT 30.09.2017
|
Particulars |
30.09.2017 |
|
ASSETS |
Unaudited |
|
Non-current assets |
|
|
Property, plant and
equipment |
35568.596 |
|
Capital work in progress
|
1179.392 |
|
Intangible assets |
41.030 |
|
Financial
assets |
|
|
Investments |
4928.044 |
|
Others |
941.202 |
|
Other non-current assets |
710.332 |
|
Total non-current assets |
43368.598 |
|
|
|
|
Current assets |
|
|
Inventories |
5086.298 |
|
Financial assets |
|
|
Investments |
1464.531 |
|
Trade receivables |
2716.359 |
|
Cash and cash
equivalents |
4025.741 |
|
Bank Balances other than
above |
12.148 |
|
Others |
746.801 |
|
Other current assets |
1945.459 |
|
Total current assets |
15997.337 |
|
|
|
|
TOTAL ASSETS |
59365.935 |
|
|
|
|
EQUITY |
|
|
Share capital |
699.272 |
|
Other equity |
19572.461 |
|
TOTAL EQUITY |
20271.733 |
|
|
|
|
LIABILITIES |
|
|
Non-current
liabilities |
|
|
Financial liabilities |
|
|
Borrowings |
21848.076 |
|
Other Financial liabilities |
1986.828 |
|
Provisions |
240.340 |
|
Deferred tax liabilities |
2160.045 |
|
Other Non-current Liabilities |
494.415 |
|
Total non-current
liabilities |
26729.704 |
|
|
|
|
Current liabilities |
|
|
Financial
liabilities |
|
|
Borrowings |
1249.535 |
|
Trade payables |
1605.538 |
|
Other financial liabilities |
8754.503 |
|
Other current
liabilities |
513.528 |
|
Provisions |
188.194 |
|
Current Tax Liability |
53.200 |
|
Total current
liabilities |
12364.498 |
|
|
|
|
TOTAL EQUITY AND LIABILITIES |
59365.935 |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No 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
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.72 |
|
UK Pound |
1 |
INR 88.64 |
|
Euro |
1 |
INR 78.14 |
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on secured
terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.