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MIRA INFORM REPORT
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Report No. : |
486897 |
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Report Date : |
22.01.2018 |
IDENTIFICATION DETAILS
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Name : |
TATA COFFEE LIMITED (w.e.f. 11.08.2000) |
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Formerly Known
As : |
CONSOLIDATED COFFEE LIMITED (w.e.f. 1966) CONSOLIDATED COFFEE ESTATES (1943) LIMITED |
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Registered
Office : |
Pollibetta, Kodagu – 571215, Karnataka |
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Tel. No.: |
91-8274-251411/ 12/ 13 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of Incorporation
: |
19.11.1943 |
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Com. Reg. No.: |
08-000833 |
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Capital
Investment / Paid-up Capital : |
INR 186.770 Million |
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CIN No.: [Company Identification
No.] |
L01131KA1943PLC000833 |
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IEC No.: |
Not Divulged |
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GSTIN : |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
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PAN No.: [Permanent Account No.] |
Not Divulged |
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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 the production, trading and
distribution of coffee, tea and allied products. (Registered Activity) |
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No. of Employees : |
5975 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A++ |
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
TATA Coffee Limited is owned by the Tata Group. The
company owns 19 coffee estates in southern India. The estates are spread across
the districts of Coorg, Chikmagalur, and Hassan in Karnataka and Valparai
district in Tamil Nadu. Tata Coffee is the largest integrated coffee
plantation company in the world.
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NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
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Rating |
Short term borrowing : A1+ |
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Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
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Date |
28.02.2017 |
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.
INFORMATION DECLINED BY
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Name : |
Not Divulged |
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Designation : |
Accounts Department |
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Contact No.: |
91-80-23560695 |
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Date : |
19.01.2018 |
LOCATIONS
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Registered Office : |
Pollibetta, Kodagu – 571215, Karnataka, India |
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Tel. No.: |
91-8274-251411/ 12/ 13 |
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Fax No.: |
91-8274-251425 |
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E-Mail : |
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Website : |
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Corporate Office : |
No. 57, Railway Parallel Road, Kumara Park
(West), Bangalore – 560020, Karnataka, India |
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Tel. No.: |
91-80-23560695/ 96/ 97 |
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Fax No.: |
91-80-23341843/ 23561972 |
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E-Mail : |
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Branch Office 1 : |
503, Barton Centre, 5th Floor, 84, Mahatma
Gandhi Road, Bangalore – 560001, Karnataka, India |
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Tel No.: |
91-80- 25320321 |
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Fax No.: |
91-80- 25580019 |
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Branch Office 2 : |
2/42 Ansari Road, 1st Floor, Daryaganj, Sant
Vihar, New Delhi – 110 002 |
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Tel No.: |
91- 11- 23271805 |
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Fax No.: |
91- 11-23271802 |
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Branch Office 3 : |
Tata Centre, 1st Floor, 43, J. L. Nehru Road,
Kolkata – 700 071 |
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Tel No.: |
91-33-22883087 |
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Fax No.: |
91-33-22883062 |
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Branch Office 4 : |
‘E’ Road, Northern Town, Bistupur, Jamshedpur – 831 001, Jharkhand, India |
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Tel No.: |
91-657-2426616 |
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Fax No.: |
91-657 2426937 |
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PLANT LOCATIONS
: |
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Coffee Estates : |
Located at · Kodagu, Karnataka, India · Hassan, Karnataka, India ·
Chikmagalur, Karnataka, India |
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Tea and Coffee
(mixed) Estate : |
Basrikatte, Chikmagalur District, Karnataka, India |
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Tea Estates : |
Located at · Malkiparai, East Godavari District, Andhra Pradesh, India · Pachaimalai, Tamilnadu, India · Pannimade, Tamilnadu, India · Uralikal, Tamilnadu, India · Velonie, Tamilnadu, India · Hudikeri, Kodagu District Karnataka, India |
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Coffee Estate : |
Located at · Valparai, Tamilnadu, India |
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Curing Works,
R&G factory and Pepper processing Unit : |
Located at · Kushalnagar, Kodagu District, Karnataka, India · Kudige, Kodagu District, Karnataka, India · Kodagu District, Karnataka, India |
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Instant Coffee
Plants : |
Located at · Toopran, Brahmanpally Village, Andhra Pradesh, India · Theni, Tamilnadu, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Sanjiv Sarin |
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Designation : |
Managing Director |
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Address : |
101, M J Kailash Road No.4, Banjara Hills, Hyderabad-500034, Telangana, India |
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Date of Appointment : |
25.04.2015 |
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PAN No.: |
AAZPS3956N |
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DIN No.: |
02063332 |
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Name : |
Mr. Venkataramanan Krishnamoorthy |
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Designation : |
Whole-time Director |
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Address : |
2 D Polaris Aquila Heights No. 27, Hmt Factory Main Road, Near HMT School Peenya Planta Tion B, Bangalore-560013, Karnataka, India |
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Date of Birth/Age : |
30.07.1961 |
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Qualification : |
ACA, ICWA |
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Expertise in
specific functional area: |
30 years of experience in the area of Finance |
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Date of Appointment : |
25.10.2014 |
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PAN No.: |
AFKPK1718E |
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DIN No.: |
01728072 |
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Name : |
Mr. Thomas Purackal Chacko |
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Designation : |
Whole-time Director |
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Address : |
Flat No.511, Embassy Woods, 1st Floor Cunningham Road, Vasanth Nagar, Bangalore-560052, Karnataka, India |
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Date of Birth/Age : |
09.04.1970 |
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Qualification : |
Bachelor of Science with specialisation in Computer Science. |
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Expertise in specific
functional area: |
24 years of experience in Plantation Sector. |
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Date of Appointment : |
04.08.2015 |
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DIN No.: |
05215974 |
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Name : |
Mr. Santhanakrishnan Sankaran |
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Designation : |
Director |
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Address : |
24, Unnamalai Ammal Street, T. Nagar, Chennai-600017, Tamilnadu, India |
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Date of Appointment : |
13.10.2008 |
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DIN No.: |
00032049 |
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Name : |
Mr. Siraj Azmat Chaudhry |
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Designation : |
Director |
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Address : |
S-12 B, Windsor Court DLF Phase – 4, Gurugram-122009, Haryana, India |
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Date of Appointment : |
15.05.2015 |
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DIN No.: |
00161853 |
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Name : |
Mr. Vittaldas Leeladhar |
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Designation : |
Director |
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Address : |
Leelakala, House No. 5-84/2 Padavinangaday, Konchady Post, Mangalore D K -575008, Karnataka, India |
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Date of Appointment : |
22.12.2014 |
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DIN No.: |
02630276 |
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Name : |
Ms. Sunalini Narayan Menon |
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Designation : |
Director |
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Address : |
Flat No. 6, No. 3 Myrtle Lane Ispahani House, Richmond Town, Bangalore-560025, Karnataka, India |
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Date of Appointment : |
23.09.2014 |
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DIN No.: |
06983334 |
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Name : |
Mr. Chengappa Padinjaranda Ganapati |
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Designation : |
Director |
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Address : |
43, 2nd Cross, Sneha Nagar, Amrutha Halli, Byatarayanpura, Bangalore-560092, Karnataka, India |
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Date of Appointment : |
18.05.2017 |
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DIN No.: |
06771287 |
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Name : |
Mr. Harish Ramananda Bhat |
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Designation : |
Director |
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Address : |
No A-1053, Krest Park Apartments, 39 Old Kanakapura Road, Basavanagudi, Bangalore-560004, Karnataka, India |
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Date of Birth/ Age
: |
08.11.1962 |
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Date of Appointment : |
27.07.2012 |
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DIN No.: |
00478198 |
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Name : |
Mr. Lakshmanan Krishna Kumar |
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Designation : |
Additional Director |
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Address : |
B-1001/2, Dosti Elite, R. No. 29, Sion, Mumbai-400022, Maharashtra, India |
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Date of Appointment : |
07.11.2017 |
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DIN No.: |
00423616 |
KEY EXECUTIVES
|
Name : |
Mr. Venkataramanan Krishnamoorthy |
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Designation : |
Chief Financial Officer |
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Address : |
2 D Polaris Aquila Heights No. 27, HMT Factory Main Road, Near HMT School Peenya Planta Tion B, Bangalore-560013, Karnataka, India |
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Date of Appointment : |
25.10.2014 |
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PAN No.: |
AFKPK1718E |
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Name : |
Mr. Sanjiv Sarin |
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Designation : |
Chief Executive Officer |
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Address : |
101 M J Kailash, Road No.4 Banjara Hills, Hyderabad-500034, Telangana, India |
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Date of Appointment : |
25.04.2015 |
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PAN No.: |
AAZPS3956N |
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Name : |
Mr. Narayana Anantha Murthy |
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Designation : |
Company Secretary |
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Address : |
Sri Venkateshwara Nilaya No.888, 50th Main, 25th Kumara Swamy Layout, 1st Stage, Bangalore-560078, Karnataka, India |
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Date of Appointment : |
20.12.2016 |
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PAN No.: |
ACEPM1429K |
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Board Committees |
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Audit Committee |
· Mr. S. Santhanakrishnan - Chairman · Mr. V. Leeladhar · Ms. Sunalini Menon · Mr. Siraj Azmat Chaudhry |
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Nomination and
Remuneration Committee |
· Mr. V. Leeladhar - Chairman · Mr. S. Santhanakrishnan · Mr. R. Harish Bhat · Mr. Siraj Azmat Chaudhry |
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Stakeholders
Relationship Committee |
· Mr. S. Santhanakrishnan - Chairman · Mr. R. Harish Bhat · Mr. V. Leeladhar · Mr. Chacko Purackal Thomas · Mr. K. Venkataramanan |
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Corporate Social
Responsibility Committee |
· Ms. Sunalini Menon - Chairperson · Mr. V. Leeladhar · Mr. Siraj Azmat Chaudhry · Mr. Sanjiv Sarin |
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Risk Management
Committee |
· Mr. Siraj Azmat Chaudhry - Chairman · Mr. S. Santhanakrishnan · Mr. V. Leeladhar · Mr. Sanjiv Sarin · Mr. Chacko Purackal Thomas · Mr. K. Venkataramanan · Mr. T. Radhakrishnan |
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Ethics &
Compliance Committee |
· Mr. S. Santhanakrishnan · Ms. Sunalini Menon · Mr. Sanjiv Sarin · Mr. T. Radhakrishnan |
MAJOR SHAREHOLDERS
As on December, 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 % |
|
|
(A) Promoter & Promoter
Group |
107359820 |
57.48 |
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(B) Public |
79410550 |
42.52 |
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Grand Total |
186770370 |
100.00 |
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 % |
|
|
A1) Indian |
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Any
Other (specify) |
107359820 |
57.48 |
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|
Tata Global Beverages Limited |
107359820 |
57.48 |
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Sub
Total A1 |
107359820 |
57.48 |
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|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
107359820 |
57.48 |
Statement showing shareholding pattern of the Public
shareholder
|
Category & Name of the Shareholders |
No. of fully paid up equity shares held |
Shareholding % calculated as per SCRR, 1957 As a
% |
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|
B1) Institutions |
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Mutual
Funds/ |
7287927 |
3.90 |
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Reliance Capital Trustee
Company Limited |
5387806 |
2.88 |
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Alternate
Investment Funds |
175000 |
0.09 |
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Foreign
Portfolio Investors |
141987 |
0.08 |
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Financial
Institutions/ Banks |
433083 |
0.23 |
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Insurance
Companies |
3992263 |
2.14 |
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Sub
Total B1 |
12030260 |
6.44 |
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B2)
Central Government/ State Government(s)/ President of India |
0 |
0.00 |
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B3)
Non-Institutions |
0 |
0.00 |
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Individual
share capital upto INR 0.200 million |
48174951 |
25.79 |
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Individual
share capital in excess of INR 0.200 million |
2967595 |
1.59 |
|
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NBFCs
registered with RBI |
1580894 |
0.85 |
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Any
Other (specify) |
14656850 |
7.85 |
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F. Born A G |
3673156 |
1.97 |
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Foreign Individuals |
30720 |
0.02 |
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Director or Director's
Relatives |
3000 |
0.00 |
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Trusts |
242637 |
0.13 |
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Clearing Members |
3277760 |
1.75 |
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Bodies Corporate |
6172460 |
3.30 |
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Limited Liablity Partnership -
LLP |
56576 |
0.03 |
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IEPF Suspense A/c |
1200541 |
0.64 |
|
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Sub
Total B3 |
67380290 |
36.08 |
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B=B1+B2+B3 |
79410550 |
42.52 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the production, trading and
distribution of coffee, tea and allied products. (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 : |
5975 (Approximately) |
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Bankers : |
· Corporation Bank · Indian Overseas Bank · Standard Chartered Bank · Hongkong and Shanghai Banking Corporation Limited · HDFC Bank Limited · RABO BANK International ·
The Bank of Tokyo-Mitsubishi UFJ Limited |
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Facilities : |
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Statutory Auditors
: |
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Name : |
Deloitte Haskins and Sells LLP Chartered Accountants |
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Address: |
Deloitte Centre, Anchorage II, 100/2, Richmond Road, Bangalore-560025, Karnataka, India |
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Name : |
SNB Associates Chartered Accountants |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Promoter Company : |
Tata Sons Limited |
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Parent Company : |
Tata Global Beverages Limited |
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Subsidiaries : |
· Consolidated Coffee Inc. · Eight O’Clock Holdings Inc. · Eight O’Clock Coffee Company · Tata Coffee Vietnam Company Limited |
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Fellow
Subsidiaries/JVs : |
· OOO Sunty LLC · Tata Global Beverages GB Limited · Tata Starbucks Private Limited · Tata Global Beverages Australia Pty. Limited · Earth Rules Pty. Limited · Amalgamated Plantations Private Limited |
|
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Subsidiaries/JVs of
Promoter Company : |
· Tata Consultancy Services Limited · Tata Housing Development Corporation · Tata Teleservices Limited · Taj Air Limited · Tata Housing Development Company Limited · Tata Sia Airlines Limited |
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Post-Employment
Benefit Plans : |
· Tata Coffee Staff Provident Fund Trust · Tata Coffee Superannuation Scheme · Tata Coffee Employees Gratuity Fund |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000000 |
Equity Shares |
INR 1/- each |
INR 250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
186770370 |
Equity Shares |
INR 1/- each |
INR 186.770 Million |
|
|
|
|
|
A. Details of Shares
held by Parent Company/Subsidiaries/Associates:
|
Name of Share
holder |
Number
of Shares |
% Holding |
|
Tata Global Beverages Limited - Parent Company |
107359820 |
57.48% |
B. Details of
Shareholders holding more than 5% shares
|
Name of Share
holder |
Number
of Shares |
% Holding |
|
Tata Global Beverages Limited - Parent Company |
107359820 |
57.48% |
C. Reconciliation of
number of shares:
|
Particulars |
Number
of Shares |
|
Number of shares as at April 1 |
186770370 |
|
Add: Shares issued during the year |
-- |
|
Number of shares as at March 31 |
186770370 |
D. Dividends Paid:*
E. Rights,
Preferences and restrictions of Equity Shares:
The Company has one class of equity shares having a par value of INR 1 each. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company in proportion to their shareholding.
* The Board of Directors, in its meeting on May 18, 2017, have proposed a final dividend of INR 1.75 per share (face value of INR 1/- each) for the year ended March 31, 2017, which includes a special dividend of INR 0.25 per share to commemorate the completion of 25 years of a Tata Group Company acquiring controlling interest in Tata Coffee Limited (erstwhile Consolidated Coffee Limited). The proposal is subject to the approval of shareholders at the Annual General Meeting
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES
OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
186.770 |
186.770 |
186.770 |
|
(b) Reserves & Surplus |
8785.949 |
7605.118 |
6597.153 |
|
(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) |
8972.719 |
7791.888 |
6783.923 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
41.413 |
195.328 |
|
(b) Deferred tax liabilities
(Net) |
287.404 |
270.929 |
237.604 |
|
(c) Other long term
liabilities |
34.930 |
28.897 |
30.164 |
|
(d) long-term provisions |
424.970 |
292.403 |
273.554 |
|
Total
Non-current Liabilities (3) |
747.304 |
633.642 |
736.650 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
729.988 |
896.061 |
773.144 |
|
(b) Trade payables |
398.569 |
356.990 |
221.754 |
|
(c) Other current liabilities |
717.336 |
688.411 |
558.328 |
|
(d) Short-term provisions |
31.598 |
85.797 |
396.251 |
|
Total
Current Liabilities (4) |
1877.491 |
2027.259 |
1949.477 |
|
|
|
|
|
|
TOTAL |
11597.514 |
10452.789 |
9470.050 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4015.170 |
3923.399 |
3167.522 |
|
(ii) Intangible Assets |
23.954 |
37.845 |
48.562 |
|
(iii) Capital work-in-progress |
201.646 |
63.409 |
10.513 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1506.643 |
1470.098 |
2156.283 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
6.575 |
1.051 |
159.083 |
|
(e) Other Non-current assets |
216.408 |
202.494 |
1.501 |
|
Total
Non-Current Assets |
5970.396 |
5698.296 |
5543.464 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
986.383 |
0.000 |
8.893 |
|
(b) Inventories |
2422.250 |
2222.562 |
2023.398 |
|
(c) Trade receivables |
944.749 |
953.349 |
920.331 |
|
(d) Cash and cash equivalents |
35.110 |
278.271 |
84.415 |
|
(e) Short-term loans and
advances |
604.858 |
839.273 |
709.261 |
|
(f) Other current assets |
627.734 |
453.502 |
180.288 |
|
(g) Non-Current Assets held
for sale |
6.034 |
7.536 |
0.000 |
|
Total
Current Assets |
5627.118 |
4754.493 |
3926.586 |
|
|
|
|
|
|
TOTAL |
11597.514 |
10452.789 |
9470.050 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
7788.251 |
7081.149 |
6853.052 |
|
|
Other Income |
694.849 |
446.653 |
401.385 |
|
|
TOTAL
|
8483.100 |
7527.802 |
7254.437 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
2362.990 |
2369.809 |
2333.693 |
|
|
Purchases of Stock-in-Trade |
450.600 |
383.189 |
334.183 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
(34.316) |
83.367 |
(135.086) |
|
|
Employees benefits expense |
1718.601 |
1635.835 |
1556.972 |
|
|
Other expenses |
1833.323 |
1670.189 |
1500.761 |
|
|
Exceptional Items |
23.123 |
65.675 |
(65.204) |
|
|
TOTAL |
6354.321 |
6208.064 |
5525.319 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
2128.779 |
1319.738 |
1729.118 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
84.879 |
80.263 |
92.048 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
2043.900 |
1239.475 |
1637.070 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
224.120 |
216.326 |
220.421 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
1819.780 |
1023.149 |
1416.649 |
|
|
|
|
|
|
|
Less |
TAX |
427.481 |
375.804 |
401.045 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
1392.299 |
647.345 |
1015.604 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
2831.506 |
2332.786 |
|
|
|
|
|
|
|
Add |
Transfer
from Alliance Coffee Limited |
NA |
NA |
1.348 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
NA |
NA |
248.229 |
|
|
Proposed Dividend |
NA |
NA |
242.801 |
|
|
Provision for Tax on Dividend |
NA |
NA |
49.429 |
|
|
Reversal of Dividend
Distribution Tax |
NA |
NA |
(23.806) |
|
|
Transitional Impact of
Depreciation |
NA |
NA |
1.579 |
|
|
Total
(M) |
NA |
NA |
518.232 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
NA |
NA |
2831.506 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
5590.900 |
4856.100 |
4321.306 |
|
|
TOTAL
EARNINGS |
5590.900 |
4856.100 |
4321.306 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
7.45 |
3.47 |
5.44 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
40.534 |
165.650 |
156.263 |
|
Cash generated from operations |
1347.925 |
1160.716 |
667.845 |
|
Net Cash Flows from/ (used in) Operating Activities |
923.061 |
784.224 |
357.175 |
QUARTERLY
RESULTS
|
Particulars |
|
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
|
|
|
1st Quarter |
2nd
Quarter |
|
Net Sales |
|
3676.100 |
3821.900 |
|
Total Expenditure |
|
2879.000 |
3105.300 |
|
PBIDT (Excl OI) |
|
797.100 |
716.600 |
|
Other Income |
|
45.200 |
51.500 |
|
Operating Profit |
|
842.300 |
768.100 |
|
Interest |
|
75.000 |
79.100 |
|
Exceptional Items |
|
NA |
NA |
|
PBDT |
|
767.300 |
689.000 |
|
Depreciation |
|
140.900 |
141.200 |
|
Profit Before Tax |
|
626.400 |
547.800 |
|
Tax |
|
177.300 |
197.000 |
|
Provisions and
contingencies |
|
NA |
NA |
|
Profit After Tax |
|
449.100 |
350.800 |
|
Extraordinary Items |
|
NA |
NA |
|
Prior Period Expenses |
|
NA |
NA |
|
Other Adjustments |
|
NA |
NA |
|
Net Profit |
|
449.100 |
350.800 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
44.28 |
49.14 |
49.02 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
8.24 |
7.43 |
7.45 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
51.71 |
47.33 |
30.34 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.88 |
0.59 |
0.85 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.50 |
0.33 |
0.54 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.17 |
0.21 |
0.24 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.09 |
0.14 |
0.17 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.21 |
0.26 |
0.29 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.47 |
0.52 |
0.48 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
25.08 |
16.44 |
18.78 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
17.88 |
9.14 |
14.82 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets)
* 100) |
% |
12.01 |
6.19 |
10.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
15.52 |
8.31 |
14.97 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
3.00 |
2.35 |
2.01 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.71 |
1.25 |
0.98 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.77 |
0.75 |
0.72 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
4.13 |
5.91 |
6.02 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
3.00 |
2.35 |
2.01 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK PRICES
|
Face Value |
INR 1.00/- |
|
Market Value |
INR 159.35/- |
FINANCIAL ANALYSIS
[all figures are
in 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 |
186.770 |
186.770 |
186.770 |
|
Reserves & Surplus |
6597.153 |
7605.118 |
8785.949 |
|
Net
worth |
6783.923 |
7791.888 |
8972.719 |
|
|
|
|
|
|
long-term borrowings |
195.328 |
41.413 |
0.000 |
|
Short term borrowings |
773.144 |
896.061 |
729.988 |
|
Current maturities of
long-term debts |
156.263 |
165.650 |
40.534 |
|
Total
borrowings |
1124.735 |
1103.124 |
770.522 |
|
Debt/Equity
ratio |
0.166 |
0.142 |
0.086 |
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 |
6853.052 |
7081.149 |
7788.251 |
|
|
|
3.328 |
9.986 |
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 |
6853.052 |
7081.149 |
7788.251 |
|
Profit |
1015.604 |
647.345 |
1392.299 |
|
|
14.82% |
9.14% |
17.88% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES
OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
186.770 |
186.770 |
|
(b) Reserves & Surplus |
|
10384.343 |
9127.167 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
2994.873 |
2918.874 |
|
Total
Shareholders’ Funds (1) + (2) |
|
13565.986 |
12232.811 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
6349.391 |
6923.310 |
|
(b) Deferred tax liabilities (Net) |
|
1944.160 |
1807.765 |
|
(c) Other long term
liabilities |
|
67.160 |
58.501 |
|
(d) long-term provisions |
|
424.970 |
292.403 |
|
Total
Non-current Liabilities (3) |
|
8785.681 |
9081.979 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
1297.543 |
1542.129 |
|
(b) Trade payables |
|
1039.922 |
928.196 |
|
(c) Other current liabilities |
|
1587.050 |
1626.775 |
|
(d) Short-term provisions |
|
31.598 |
85.797 |
|
Total
Current Liabilities (4) |
|
3956.113 |
4182.897 |
|
|
|
|
|
|
TOTAL |
|
26307.780 |
25497.687 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
5126.670 |
5128.943 |
|
(ii) Intangible Assets |
|
12862.454 |
13288.953 |
|
(iii) Capital work-in-progress |
|
372.617 |
87.325 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
100.107 |
63.562 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
6.575 |
1.051 |
|
(e) Other Non-current assets |
|
216.427 |
202.546 |
|
Total
Non-Current Assets |
|
18684.850 |
18772.380 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
986.383 |
0.000 |
|
(b) Inventories |
|
3085.262 |
2896.720 |
|
(c) Trade receivables |
|
1599.558 |
1664.151 |
|
(d) Cash and cash equivalents |
|
442.489 |
542.276 |
|
(e) Short-term loans and
advances |
|
604.858 |
839.273 |
|
(f) Other current assets |
|
898.346 |
775.351 |
|
(g) Non-Current Assets held for sale |
|
6.034 |
7.536 |
|
Total
Current Assets |
|
7622.930 |
6725.307 |
|
|
|
|
|
|
TOTAL |
|
26307.780 |
25497.687 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
16060.018 |
15510.581 |
|
|
Other Income |
|
227.871 |
197.032 |
|
|
TOTAL
|
|
16287.889 |
15707.613 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
5732.934 |
6046.776 |
|
|
Purchases of Stock-in-Trade |
|
471.316 |
644.534 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(7.453) |
328.392 |
|
|
Employees benefits expense |
|
3057.379 |
2889.945 |
|
|
Other expenses |
|
2896.415 |
2769.626 |
|
|
Exceptional Items |
|
23.123 |
65.675 |
|
|
TOTAL |
|
12173.714 |
12744.948 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
4114.175 |
2962.665 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
369.852 |
373.444 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
3744.323 |
2589.221 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
|
565.350 |
529.693 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
3178.973 |
2059.528 |
|
|
|
|
|
|
|
Less |
TAX |
|
1083.408 |
808.486 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
2095.565 |
1251.042 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
8.09 |
4.42 |
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 |
Yes |
|
9] |
Promoter’s background |
Yes |
|
10] |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11] |
Pan Card No. of Proprietor / Partners |
Yes |
|
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 |
General Information
Tata Coffee Limited and its subsidiaries (together “the Group”) are engaged in the production, trading and distribution of Coffee, Tea and Allied products. The Company has business operations mainly in India, USA and CIS countries, Europe and Africa.
The Company is a public limited company incorporated and domiciled in India and has its registered office at Pollibetta, Kodagu, Karnataka, India. The Company has its primary listings on the Bombay Stock Exchange and National Stock Exchange in India.
The principal accounting policies applied in the preparation
of the financial statements are set out below. These policies have been
consistently applied to all the years presented, unless otherwise stated
Revenue from
Operations:
The Company’s total income during the year was INR 8480.000 Million as compared to INR 7530.000 Million in the previous year, registering an increase of 13% over the previous year
Profits
The Profit before Tax for the year 2016-17 was INR 1820.000
Million as against INR 1020.00 Million in the previous year. Profit after Tax
in 2016-17 stood at INR 1390.000 Million as against INR 650.000 Million in the
previous year.
MANAGEMENT DISCUSSION
AND ANALYSIS REPORT
INDUSTRY STRUCTURE
AND DEVELOPMENTS:
The Global Coffee Markets in 2016-17 presented distinctly different pictures for Arabica and Robusta Coffees. On an overall basis, the crop year 2016-17 witnessed a balanced scenario between supply (production) and demand (consumption). Estimates of the total production of coffee was around 155 million bags (60 kgs) matched by almost equal demand of 155 million bags. However, the break-up provides a different picture. The Arabica production, estimated at 95 million bags was an all-time record and the Robusta production at an estimated 60 million bags was the lowest in 5 years. This deficit of Robusta – over 10% on demand - was only partly compensated by the Arabica surplus. This was indeed the driving force behind the terminal movements for the year.
The NY (ICE) terminal, representing Arabica settled at 141.65 Cents / lb (Jul futures) on 31st March 2017. It had settled for the same position at 129.35 Cents / lb (Jul futures) on 1st April 2016. The rise in the Arabica terminal was a modest 9.5%. In sharp contrast, the London terminal, representing Robusta coffee saw an increase of 43% through the year. It settled at 2171 $ / MT (Jul futures) on 31st March 2017 as against a close of 1519 $ / MT on the same position at the start of the year on 1st April. The sharp deficit of Robusta coffee was therefore the key defining feature of the market through the FY 2016-17.
Tea is a popular and widely consumed beverage in India and around the world. Its cultivation is confined to only certain regions of the world due to specific requirements of climate and soil. Africa, India, Sri Lanka, Indonesia are the major Black Tea producing regions. It is also grown in South America in small quantities. India is the largest producer of Black Tea and contributes to about 30% of the global Tea production. China is the largest producer of Green Tea.
Pepper is the native of South India and is extensively cultivated along the tropical regions. It is an economically important agricultural commodity of commerce and trade in India since pre-historic period. Until 18th Century, black pepper cultivation and production had been the monopoly of India; the major share contributed by the state of Kerala. However, from the past two centuries, pepper cultivation has been taken up on a commercial scale by several nations.
Currently, Vietnam is the world’s largest pepper producer (35%) followed by Indonesia (17%) and India (14%). Pepper is monocropped in Vietnam, Indonesia, Thailand, Malaysia and Brazil and the height is restricted to 4 – 6m giving a columnar appearance but in India the major portion of the crop is intercropped on shade trees of Coffee, Tea, Cardamom and on Arecanut and coconut where the vine height is unlimited. The states of Kerala, Karnataka and Tamil Nadu account for a major portion of India’s production with North- East of India also catching up. India produces approximately 55,000 MT of pepper annually and 70% of the production is consumed in the domestic market. Indian pepper is known for its good pungency and taste, which has a specific demand in the International Market known as TGSEB (Tellicherry Garbled Special Extra Bold), TGEB (Tellicherry Garbled Extra Bold) and MG-1 (Malabar Garbled).
Instant Coffee market continues to grow globally at just over 2% per annum. There is an increasing conversion of non-traditional markets to the fold of instant coffee – either through direct or through indirect routes (coffee mixes). Markets of Asia and Africa, backed by the headroom to grow, continue to be attractive for instant coffee manufacturers and marketers to invest for the future. The growth of modern retail in some of these countries is another catalyst for growth of instant coffees. Tata Coffee is cognizant of these changing dynamics and is positioning itself suitably to benefit from these changes.
OUTLOOK:
Green Coffee
The Plantation Division of the Company has been following scientifically based sustainable cultural practices with increased focus in producing high quality Premium Differentiated Coffees. The growing demand by customers around the world for enhanced differentiated flavors saw success in selection of Tata Nullore Estate Coffee by Starbucks as its first microlot from India for its ‘Reserve’ selection of rare and distinctive coffees. The microlot coffee is unique to its ecosystem on account of its exclusivity created by a combination of flora and fauna with distinctive soil conditions influencing the intrinsic quality of the beans.
The Company continues to pursue its strategy to sustain asset rejuvenation (Replanting & Consolidation) of Arabica and Robusta, to increase the yield performance and narrowing down variations in biannual crop pattern.
With Climate change impact being significant, efforts to augment water resources to mitigate inadequate blossom and backing showers are well addressed by excavating additional irrigation tanks.
Focus on timely harvest when the coffee bean and pepper development is at its peak continues to get utmost importance to produce high quality produce with improved premium grades.
Skill development and sourcing repeat workers to enhance labour productivity is practiced.
Upgradation of processing equipment with increased capacity utilization and standardization of material and man-day usage was given utmost importance, a cost optimization initiative.
All social and environmental certifications were sustained, a testimony to our commitment in safeguarding and protecting the ecosystem they operate in.
Instant Coffee
The Instant Coffee Division would continue to focus on new product development, customer centricity, emerging markets and best in class service to remain at the forefront of this exciting space. Our engagements with set of customers across the world – coffee brand owners, modern retail, importers and distributors etc., would be at the core of our growth.
The fastest growth in soluble consumption is expected from Africa and Middle East although emerging markets forecasts slower coffee consumption growth due to projected lower economic growth and disposable incomes.
In many of the mature/advance markets, R&G consumption using single-cup brewers is expected to increase. The Company’s commitment to sustainability focusing on Renewable Energy utilization and strengthening Operational Excellence shall bring value add to the business.
The Instant Coffee market in India is growing at an attractive rate of around 15%, year on year. A positive consumer outlook towards new experiences such as Café culture, premium coffee, higher disposable incomes and young population are some of the important factors that promoted growth in coffee consumption in India.
Additionally, increased access to coffee machines in offices and institutions triggered interest in coffee among consumers who began to acquire and appreciate taste and in turn consumed coffee at home as well.
Tea
CTC Tea markets for plainer and middling Teas remains weak. However, Teas that are of good quality still find good demand and the outlook for the good liquoring Teas in the ensuing season will continue to be firm. Orthodox Teas are also expected to find better acceptance, especially with the export market.
Pepper
Black pepper produced by the Company will be of a premium quality with its initiatives of sustainable cultivation practices, processing, certifications, upgraded processing center and working towards getting it EIA certified and implementing traceability initiatives.
With introduction of modern pepper nurseries to grow different varieties of pepper specific to estates based on location, rainfall pattern and altitude, they shall continue to increase pepper production. With a separate vertical working exclusively on the following parameters, Tata Coffee will strive to increase production.
AWARDS AND
RECOGNITIONS
Tata Coffee’s Nullore Arabica microlot became the first-ever Indian coffee to be curated in Starbucks Reserve, Seattle.
Tata Coffee was recognised as the ‘Most Ethical Company’ in Agriculture Sector in November, 2016 at a function held by World CSR Day in Taj Land’s End, Bandra, Mumbai.
Five estates (Ubban, Valaparai, Anandapur, Yemmigoondi, Karadibetta) of our Plantation Division have won the ‘Flavours of India Fine Cups’ Award. The awards have been received for both Arabica and Robusta varieties.
Theni plant was awarded ‘Silver’ status by SEEM National Energy Management awards.
Tata Coffee Limited-Toopran unit was the winner of the
4-Star CII SR Excellence Award for continual development of Environment, Health
and Safety practices
UNSECURED LOAN
|
PARTICULAR |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Loan from Banks |
300.000 |
450.000 |
|
Total |
300.000 |
450.000 |
|
Short-term borrowings Unsecured Loans from Banks
are towards Working Capital facilities and are repayable on demand. The
coupon rate is based on MCLR linked rates |
||
INDEX
OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
A94218286 |
10239429 |
HDFC BANK LIMITED |
21/08/2010 |
- |
- |
250000000.0 |
HDFC BANK HOUSE SENAPATI BAPAT MARG LOWER PAREL W MUMBAI MAHARASHTRA 400013 INDIA |
|
2 |
A07279094 |
10144453 |
THE WESTERN INDIA TRUSTEE AND EXECUTOR COMPANY LIMITED |
06/12/2006 |
- |
- |
935152800.0 |
VISWASTA BHAWAN 218 PRATAP GANJ PETH SATARA MAHARASHTRA 415002 INDIA |
|
3 |
Y10408575 |
90285648 |
TATA COFFEE LIMITED |
29/01/2004 |
- |
- |
44787367.0 |
RAILWAY PARALLEL ROAD BANGLORE KARNATAKA INDIA |
|
4 |
B29600517 |
80063801 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
03/03/2003 |
12/01/2012 |
- |
450000000.0 |
#7, M G ROAD BANGALORE KARNATAKA 560001 INDIA |
|
5 |
Y10408388 |
90285461 |
TAMILNAD MERCANTILE BANK LTD |
27/10/2001 |
- |
- |
5000000.0 |
THENI THENI TN INDIA |
|
6 |
Y10408387 |
90285460 |
TAMILNAD MERCANTILE BANK LTD |
22/10/2001 |
- |
- |
34000000.0 |
THENI THENI TN INDIA |
|
7 |
Z01777899 |
80067290 |
CORPORATION BANK |
10/05/2001 |
- |
- |
220000000.0 |
QUEEN'S ROAD BANGALORE KARNATAKA 560001 INDIA |
|
8 |
B90878729 |
80034227 |
Indian Overseas Bank |
30/11/1988 |
05/11/2013 |
- |
100000000.0 |
Pollibetta Branch Pollibetta KARNATAKA 571215 INDIA |
|
9 |
G47273388 |
10364373 |
Cooperatieve Centrale Raiffeisen Boerenleenbank B A (Also known as Rabobank International) Hong Kong |
13/06/2012 |
22/08/2012 |
02/06/2017 |
558505000.0 |
32/F, Three Pacific Place1 Queen's Road East Hong Kong NA 0000 HK |
|
10 |
B66775958 |
10096899 |
IDBI TRUSTEESHIP SERVICES LIMITED |
06/12/2006 |
- |
24/01/2013 |
935152800.0 |
VISWASTA BHAWAN 218PRATAPGANJ PETH SATARA MAHARASHTRA 415002 INDIA |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Claims under
adjudication not acknowledged as debts: |
|
|
|
Demands raised by Income Tax, Excise & Sales Tax
Authorities |
104.213 |
2753.57 |
|
Labour disputes under adjudication |
9.400 |
9.037 |
|
Claims by Customers/ Suppliers |
6.929 |
69.102 |
|
For Bank and other Guarantees |
89.557 |
97.302 |
|
Total |
210.099 |
2929.011 |
STATEMENT
OF STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30.09.2017
(INR In Million)
|
PARTICULARS |
Standalone |
||
|
Quarter Ended |
Six Months |
||
|
30.09.2017 |
30.06.2017 |
30.09.2017 |
|
|
Audited |
Audited |
Audited |
|
|
Income From
Operations |
|
|
|
|
a. Revenue from operations |
1718.100 |
1813.200 |
3531.300 |
|
b. Other Income |
185.500 |
45.300 |
230.800 |
|
Total Income from
Operations (Net) |
1903.600 |
1858.500 |
3762.100 |
|
|
|
|
|
|
Expenditure |
|
|
|
|
Cost of material Consumed |
652.100 |
633.300 |
1285.400 |
|
Purchase of Stock-in trade |
74.300 |
134.800 |
209.100 |
|
Changes in inventory of finished Goods, work- in-progress and Stock-in-trade |
(51.500) |
(178.200) |
(229.700) |
|
Employees Benefit Expenses |
424.800 |
405.800 |
830.600 |
|
Finance Cost |
11.400 |
11.500 |
22.900 |
|
Depreciation and Amortization Expenses |
57.000 |
56.100 |
113.100 |
|
Other expenses |
425.000 |
485.000 |
910.000 |
|
Total Expenses |
1593.100 |
1548.300 |
3141.400 |
|
Profit / (Loss)
exceptional Items tax |
310.500 |
310.200 |
620.700 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
Profit / (Loss)
before tax |
310.500 |
310.200 |
620.700 |
|
Tax Expense |
66.700 |
66.700 |
133.400 |
|
Net Profit After
Tax |
243.800 |
243.500 |
487.300 |
|
|
|
|
|
|
Other comprehensive income |
|
|
|
|
Items that will not be reclassified to profit or loss |
|
|
|
|
(i) Remeasurment of net defined benefit plans |
(4.900) |
(4.900) |
(9.800) |
|
(ii) equity Instruments through other comprehensive income |
5.800 |
0.700 |
6.500 |
|
(iii) Income tax relating to items |
1.700 |
1.700 |
3.400 |
|
|
|
|
|
|
Items that will be reclassified to profit or loss |
|
|
|
|
(i) effective portion of gains/(Loss) in cash flow hedges |
(31.900) |
(3.600) |
(35.500) |
|
(ii) Income tax relating to items |
11.000 |
1.300 |
12.300 |
|
|
|
|
|
|
Other comprehensive income, net of income
tax |
(18.300) |
(4.800) |
(23.100) |
|
|
|
|
|
|
Total Other comprehensive income, net of income tax |
225.500 |
238.700 |
464.200 |
|
|
|
|
|
|
Paid- up
Equity Share Capital (share – INR 1) |
186.770 |
186.770 |
186.770 |
|
Other Equity (as per balance sheet of the previous accounting
year) |
|
|
|
|
Earnings Per Share (of INR 1 each) (not annualized) |
|
|
|
|
Basic and Diluted |
1.31 |
1.30 |
2.61 |
Notes :
Notes to the Statement of Standalone Financial Results
1.(a)Total Income for the current quarter is INR 1903.600 million compared to INR 2105.400 million for the corresponding quarter of the previous year.
(b)Total Income for the six months ended 30th September, 2017 is at INR
3762.100 million compared to INR 4202.700 million for the corresponding six
months of the previous year.
2. (a)The Profit before Tax for the current quarter is INR 310.500 million
compared to INR 433.100 million for the corresponding quarter of the previous
year.
(b)The Profit before Tax for the six months ended 30th September, 2017 is at
INR 620.700 Million compared to INR791.900 million for the corresponding six
months of the previous year.
3. (a)The Profit after Tax for the current quarter is INR 243.800 million
compared to INR 324.000 million for the corresponding quarter of the previous
year.
(b) The Profit after Tax for the six months ended 30th September, 2017 is at
INR 487.300 million compared to INR 593.900 million for the corresponding six
months of the previous year.
4. Other Income for the current quarter and the six months ended 30th
September, 2017 includes Dividend income of INR131.600 million from the
Company’s overseas Subsidiary, Consolidated Coffee Inc.,(corresponding previous
year’s quarter and six months ended 30th September, 2016 – INR 167.500
million).
5. Exceptional Items of INR 23.100 million for the corresponding six months of
the previous year ended 30th September, 2016 represents expenditure on certain
long-term initiatives.
6. Produce growing on Bearer plants is a Biological asset and is fair valued
based on the biological transformation when fair values are reliably
measurable. During the current quarter, the Company has determined that it can
reliably measure the growing produce of Coffee, Pepper and certain minor
produce and have accordingly measured these growing produce at their respective
fair values and gain of INR 70.400 million on initial recognition at fair
values has been recognized in the above results.
7. Segmental information is disclosed as part of the consolidated financial
results for the quarter and six months ended 30th September, 2017.
8. The aforementioned results were reviewed by the Audit Committee of the Board
and subsequently approved by the Board of Directors at its Meeting held on 7th
November, 2017. The results for the quarter and six months ended 30th
September, 2017 have been audited.
BALANCE SHEET AS AT SEPTEMBER 30, 2017
(INR In million)
|
SOURCES
OF FUNDS |
|
|
30.09.2017 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
186.800 |
|
(b) Reserves & Surplus |
|
|
8856.400 |
|
(c) Money received against
share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
9043.200 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
0.000 |
|
(b) Deferred tax liabilities
(Net) |
|
|
254.300 |
|
(c) Other long term
liabilities |
|
|
41.300 |
|
(d) long-term provisions |
|
|
322.400 |
|
Total
Non-current Liabilities (3) |
|
|
618.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
1048.100 |
|
(b) Trade payables |
|
|
433.300 |
|
(c) Other current liabilities |
|
|
681.300 |
|
(d) Short-term provisions |
|
|
68.400 |
|
Total
Current Liabilities (4) |
|
|
2231.100 |
|
|
|
|
|
|
TOTAL |
|
|
11892.300 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
3994.900 |
|
(ii) Intangible Assets |
|
|
15.100 |
|
(iii) Capital work-in-progress |
|
|
463.300 |
|
(iv) Intangible assets under development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
1901.000 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
6.600 |
|
(e) Other Non-current assets |
|
|
317.500 |
|
Total
Non-Current Assets |
|
|
6698.400 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
398.800 |
|
(b) Inventories |
|
|
2635.400 |
|
(c) Trade receivables |
|
|
865.100 |
|
(d) Cash and cash equivalents |
|
|
49.300 |
|
(e) Short-term loans and advances |
|
|
578.300 |
|
(f) Other current assets |
|
|
656.600 |
|
(g) Non Current Assets held
for sale |
|
|
10.400 |
|
Total
Current Assets |
|
|
5193.900 |
|
|
|
|
|
|
TOTAL |
|
|
11892.300 |
FIXED ASSETS:
Tangible Asset:
- Freehold Land and Development
- Building
- Water and Sanitary Installations
- Electrical Installations
- Plant and Equipment
- Furniture and Fixture
- Computer
- Office Equipment
- Motor Vehicles
Intangible Asset:
- Capitalised Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 63.72 |
|
UK Pound |
1 |
INR 88.64 |
|
Euro |
1 |
INR 78.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
JYTK |
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.
·