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MIRA INFORM REPORT
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Report No. : |
487434 |
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Report Date : |
23.01.2018 |
IDENTIFICATION DETAILS
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Name : |
KAJARIA CERAMICS LIMITED |
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Registered
Office : |
SF-11, Second Floor, JMD Regent Plaza, Mehrauli Gurgaon Road, Village
Sikanderpur Ghosi, Gurugram-122001, Haryana |
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Tel. No.: |
91-124-4081281 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
20.12.1985 |
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Com. Reg. No.: |
05-056150 |
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Capital
Investment / Paid-up Capital : |
INR 158.900 Million |
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CIN No.: [Company Identification
No.] |
L26924HR1985PLC056150 |
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IEC No.: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCK1613R |
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GSTIN/UIN : |
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
: |
Manufacturing and trading of Ceramic Wall and Floor Tiles, Polished and Glazed Vitrified Tiles. (Registered Activity) |
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No. of Employees
: |
2552 (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 : |
Subject was incorporated in the year 1985. It is engaged in
manufacturing ceramic glazed wall and floor tiles and vitrified tiles. It
also imports vitrified tiles from China and various high-end tiles from
leading European brands, which are marketed under the brand name of Kajaria. As per the financial of 2017, the company has achieved 3.48% growth in
its revenue as compared to the previous year’s revenue and has earned a fair
net profit margin of 10.69%. The sound financial profile of the company marked by strong networth
base along with negligible debt level and comfortable liquidity parameters. The company has its share price trading at around INR 715.70 on BSE as
on January 20, 2018 against the Face Value (FV) of INR 1. Business is active. Payments are reported to be regular and as per
commitment. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and condition. |
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 |
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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 |
|
Rating |
Long Term Loans=AA |
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Rating Explanation |
High degree of safety and very low credit risk. |
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Date |
24.11.2017 |
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Rating Agency Name |
ICRA |
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Rating |
Short Term Loans=A1+ |
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Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
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Date |
24.11.2017 |
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 23.01.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED BY
|
Name : |
Ms. Kajal |
|
Designation : |
Senior Manager |
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Contact No.: |
91-9987789500 |
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Date : |
20.01.2018 |
(Tel. No.: 91-124-4081281 Continuously Ringing)
[Mobile No.: 91-9987188071 Number out of coverage area – (belongs to Mr. Swapnil Satra)]
LOCATIONS
|
Registered Office : |
SF-11, Second Floor, JMD Regent Plaza, Mehrauli Gurgaon Road, Village
Sikanderpur Ghosi, Gurugram-122001, Haryana, India |
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Tel. No.: |
91-124-4081281 |
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Mobile No.: |
91-9987188071 (Mr. Swapnil) 91-9987789500 (Mr. Swapnil Satra) |
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Fax No.: |
91-124-4081281 |
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E-Mail : |
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Website : |
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Corporate Office : |
J-1/B-1 (Extn), Mohan Co-operative Industrial Estate, Mathura Road, New Delhi - 110044, India |
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Tel. No.: |
91-11-26946409 |
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Fax No.: |
91-11-26946407 |
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Factory 1: |
A-27 to 30, Industrial Area, Sikandrabad, District Bulandshahr-203205, Uttar Pradesh, India |
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Factory 2: |
19 Km Stone, Bhiwadi - Alwar Road, Village Gailpur, District Alwar-301707, Rajasthan, India |
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Factory 3: |
Alwar Shahpura Road, Village and Post Malutana, Tehsil-Thanagazi, District Alwar-301022, Rajasthan, India |
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Branch : |
201-208, Bonaza, Sahar Plaza Complex, J B Nagar, Andheri (East)
Mumbai-400059, Maharashtra, India |
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Locality : |
Commercial |
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Regional Offices : |
Located at: NORTH · Chandigarh · Dehradun · Delhi · Jaipur · Ludhiana · Lucknow · Varanasi WEST · Ahmedabad · Aurangabad · Mumbai · Nagpur · Pune CENTRAL · Indore ·
Raipur EAST · Kolkata SOUTH · Bangalore · Chennai · Cochin · Coimbatore ·
Hyderabad |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Rishi Kajaria |
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Designation : |
Managing Director |
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Address : |
200, Sainik Farms, New Delhi-110062, India |
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Date of Appointment : |
01.04.2015 |
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DIN No.: |
00228455 |
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Name : |
Mr. Ashok Kumar Kajaria |
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Designation : |
Managing Director |
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Address : |
200, Sainik Farms, Khanpur, New Delhi-110062, India |
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Date of Appointment : |
23.09.2002 |
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DIN No.: |
00273877 |
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Name : |
Mr. Chetan Kajaria |
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Designation : |
Managing Director |
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Address : |
F-200, Sainik Farms, Khanpur, New Delhi-110062, India |
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Date of Appointment : |
01.04.2015 |
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DIN No.: |
00273928 |
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Name : |
Mr. Basant Kumar Sinha |
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Designation : |
Whole-time Director |
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Address : |
Flat No.-805, Plot No.-18 Sector-4, Ajnara Land Mark, Vaishali,
Ghaziabad-201010, Uttar Pradesh, India |
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Date of Appointment : |
01.05.2010 |
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DIN No.: |
03099241 |
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Name : |
Mr. Raj Kumar Bhargava |
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Designation : |
Director |
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Address : |
C-390, Defence Colony, New Delhi-110024, India |
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Date of Appointment : |
28.08.2006 |
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DIN No.: |
00016949 |
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Name : |
Mr. Debiprasad Bagchi |
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Designation : |
Director |
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Address : |
Y-165, Regency Park-II, DLF City, Phase-4, Gurugram-122009, Haryana,
India |
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Date of Appointment : |
29.06.2007 |
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DIN No.: |
00061648 |
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Name : |
Mr. Ram Ratan Bagri |
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Designation : |
Director |
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Address : |
177-C, Western Avenue Lane, W-7, Sainik Farms, New Delhi-110062, India |
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Date of Appointment : |
26.09.2007 |
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DIN No.: |
00275313 |
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Name : |
Mr. Dev Datt Rishi |
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Designation : |
Director |
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Address : |
B-45, Sector-14, Gautam Budh Nagar, Noida-201301, Uttar Pradesh, India |
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Date of Appointment : |
14.01.2015 |
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DIN No.: |
00312882 |
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Name : |
Mrs. Sushmita Shekhar |
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Designation : |
Director |
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Address : |
68, Greenwood Government Officers welfare society, PHL, Plot No 10PKT
P-2, Sectoromega-1, Greater Noida,Gautam Budh Nagar, Noida-201306, Uttar
Pradesh, India |
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Date of Appointment : |
07.09.2015 |
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DIN No.: |
02284266 |
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Name : |
Mr. Harady Rathnakar Hegde |
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Designation : |
Director |
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Address : |
253/1 002, Terrazo Krishvi, Old Hal, 2nd Stage, Bangal, 1 Cross, 10,
Main Defence Colony, Bangalore-560038, Karnataka, India |
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Date of Appointment : |
13.07.2012 |
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DIN No.: |
05158270 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjeev Agarwal |
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Designation : |
Chief Financial Officer |
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Address : |
277, Sector-14, Faridabad-121007, Haryana, India |
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Date of Appointment : |
29.04.2015 |
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PAN No.: |
ABQPA2001E |
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Name : |
Mr. Ram Chandra Rawat |
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Designation : |
Chief Operating Officer (A&T) and Company Secretary |
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Address : |
A-95, Madhuban Preet Vihar, New Delhi-110092, India |
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Date of Appointment : |
02.08.2014 |
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PAN No.: |
ABIPR6358K |
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Name : |
Ms. Kajal |
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Designation : |
Senior Manager |
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Name : |
Mr. Swapnil Satra |
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Designation : |
Area Manager |
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COMMITTEE OF THE BOARD |
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AUDIT COMMITTEE |
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Name : |
Mr. Raj Kumar Bhargava |
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Designation : |
Chairman |
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Name : |
Mr. Ashok Kajaria |
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Designation : |
Member |
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Name : |
Mr. Ram Ratan Bagri |
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Designation : |
Member |
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Name : |
Mr. H. Rathnakar Hegde |
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Designation : |
Member |
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Name : |
Mr. Debi Prasad Bagchi |
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Designation : |
Member |
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STAKEHOLDERS RELATIONSHIP
COMMITTEE |
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Name : |
Mr. Ram Ratan Bagri |
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Designation : |
Chairman |
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Name : |
Mr. Ashok Kajaria |
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Designation : |
Member |
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Name : |
Mr. Chetan Kajaria |
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Designation : |
Member |
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NOMINATION AND REMUNERATION
COMMITTEE |
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Name : |
Mr. Debi Prasad Bagchi |
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Designation : |
Chairman |
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|
Name : |
Mr. Ashok Kajaria |
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Designation : |
Member |
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|
Name : |
Mr. H. Rathnakar Hegde |
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Designation : |
Member |
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|
Name : |
Mr. Ram Ratan Bagri |
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Designation : |
Member |
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CORPORATE SOCIAL
RESPONSIBILITY COMMITTEE |
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|
Name : |
Mrs. Sushmita Shekhar |
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Designation : |
Chairperson |
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|
Name : |
Mr. Chetan Kajaria |
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Designation : |
Member |
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|
Name : |
Mr. Rishi Kajaria |
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Designation : |
Member |
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RISK MANAGEMENT
COMMITTEE |
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|
Name : |
Mr. Ashok Kajaria |
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Designation : |
Chairman |
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|
Name : |
Mr. Chetan Kajaria |
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Designation : |
Member |
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|
Name : |
Mr. H. Rathnakar Hegde |
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Designation : |
Member |
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Name : |
Mr. Dev Datt Rishi |
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Designation : |
Member |
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Name : |
Mr. Ram Chandra Rawat |
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Designation : |
Member |
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Name : |
Mr. Sanjeev Agarwal |
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Designation : |
Member |
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BUSINESS
RESPONSIBILITY AND SUSTAINABILITY COMMITTEE |
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|
Name : |
Mr. Ashok Kajaria |
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Designation : |
Chairman |
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|
Name : |
Mr. Chetan Kajaria |
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Designation : |
Member |
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Name : |
Mr. Rishi Kajaria |
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Designation : |
Member |
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Name : |
Dr. Rajveer Choudhary |
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Designation : |
Member |
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Name : |
Mr. Bupendra Vyas |
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Designation : |
Member |
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Name : |
Mr. Rajeev Gupta |
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Designation : |
Member |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2017
|
Category of
shareholder |
No. of fully
paid up equity shares held |
Shareholding as
a % of total no. of shares (calculated as per SCRR, 1957)As a % of |
|
|
(A) Promoter and Promoter
Group |
75626231 |
47.58 |
|
|
(B) Public |
83311769 |
52.42 |
|
|
Grand
Total |
158938000 |
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 % of |
|
|
A1) Indian |
0.00 |
||
|
Individuals/Hindu
undivided Family |
10956364 |
6.89 |
|
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ASHOK KUMAR KAJARIA |
1047004 |
0.66 |
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VERSHA DEVI KAJARIA |
1778014 |
1.12 |
|
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CHETAN KAJARIA |
1339880 |
0.84 |
|
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RISHI KAJARIA |
1805716 |
1.14 |
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RASIKA KAJARIA |
570000 |
0.36 |
|
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SHIKHA KAJARIA |
600000 |
0.38 |
|
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RAGHAV KAJARIA |
450000 |
0.28 |
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KARTIK KAJARIA |
450000 |
0.28 |
|
|
VEDANT KAJARIA |
450000 |
0.28 |
|
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PARTH KAJARIA |
450000 |
0.28 |
|
|
A. K. KAJARIA (HUF) |
1967750 |
1.24 |
|
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CHETAN KAJARIA (HUF) |
42000 |
0.03 |
|
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RISHI KAJARIA (HUF) |
6000 |
0.00 |
|
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Any Other (specify) |
64669867 |
40.69 |
|
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KAJARIA SECURITIES
PRIVATE LIMITED |
64669867 |
40.69 |
|
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Sub Total A1 |
75626231 |
47.58 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
75626231 |
47.58 |
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 % of |
Number
of equity shares held in dematerialized form(Not Applicable) |
|
|
B1) Institutions |
0 |
0.00 |
||
|
Mutual Funds/ |
11157919 |
7.02 |
11081619 |
|
|
FRANKLIN INDIA SMALLER
COMPANIES FUND & FRANKLIN TEMPLETON MUTUAL FUND A/C |
1610000 |
1.01 |
1610000 |
|
|
Foreign Portfolio
Investors |
45638734 |
28.71 |
45638734 |
|
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FIDELITY INVESTMENT TRUST
FIDELITY INTERNATIONAL DISCOVERY FUND |
2444763 |
1.54 |
2444763 |
|
|
GOVERNMENT PENSION FUND
GLOBAL |
4989693 |
3.14 |
4989693 |
|
|
FRANKLIN TEMPLETON
INVESTMENT FUNDS |
2240000 |
1.41 |
2240000 |
|
|
GOLDMAN SACHS INDIA
LIMITED |
2043060 |
1.29 |
2043060 |
|
|
J P MORGAN FUNDS |
1596062 |
1.00 |
1596062 |
|
|
STEADVIEW CAPITAL
MAURITIUS LIMITED |
1944320 |
1.22 |
1944320 |
|
|
Financial Institutions/
Banks |
44388 |
0.03 |
32508 |
|
|
Insurance Companies |
554591 |
0.35 |
554591 |
|
|
Sub Total B1 |
57395632 |
36.11 |
57307452 |
|
|
B2) Central Government/
State Government(s)/ President of India |
0 |
0.00 |
||
|
B3) Non-Institutions |
0 |
0.00 |
||
|
Individual share capital
upto INR 0.200 Million |
16724980 |
10.52 |
14958593 |
|
|
Individual share capital
in excess of INR 0.200 Million |
2056500 |
1.29 |
2056500 |
|
|
NBFCs registered with RBI |
40 |
0.00 |
40 |
|
|
Any Other (specify) |
7134617 |
4.49 |
7048107 |
|
|
Bodies Corporate |
5656698 |
3.56 |
5632548 |
|
|
NRI – Repat |
734034 |
0.46 |
685374 |
|
|
NRI – Non- Repat |
378301 |
0.24 |
364601 |
|
|
Trusts |
1852 |
0.00 |
1852 |
|
|
INVESTOR EDUCATION AND PROTECTION
FUND AUTHORITY |
363732 |
0.23 |
363732 |
|
|
Sub Total B3 |
25916137 |
16.31 |
24063240 |
|
|
B=B1+B2+B3 |
83311769 |
52.42 |
81370692 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and trading of Ceramic Wall and Floor Tiles, Polished and Glazed Vitrified Tiles. (Registered Activity) |
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Products/ Services : |
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Brand Names : |
“KAJARIA” |
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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 : |
2552 (Approximately) |
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Bankers : |
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Facilities : |
Notes: Terms of Borrowings
*
In absolute terms i.e. undiscounted |
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Statutory Auditors
: |
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Name : |
O. P. Bagla and Company Chartered Accountants |
|
Address : |
8/12, Kalkaji Extension, New Delhi-110019, India |
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Tel. No.: |
91-11-26436190/ 26412939/ 26239913 |
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Fax No.: |
91-11-26239912 |
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E-Mail : |
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Website : |
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Internal Auditors : |
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Name : |
Ernst and Young LLP Chartered Accountants |
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Secretarial
Auditors |
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Name : |
Chandrasekaran Associates Company Secretaries |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Entities substantially
owned directly or indirectly by the Company, irrespective of whether
transactions have occurred or not: |
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Enterprise owned by
Key Management Personnel or major shareholders of the reporting enterprise and
enterprises that have a member of key
management in common with the reporting enterprise:- |
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CAPITAL STRUCTURE
As on 10.08.2017
Authorised Capital : INR 350.000 Million
Issued, Subscribed & Paid-up Capital : INR 158.938
Million
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000000 |
Equity Shares |
INR 1/- each |
INR 250.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
158938000 |
Equity Shares |
INR 1/- each |
INR 158.900
Million |
|
|
|
|
|
Reconciliation of the
shares outstanding at the beginning and at the end of the year
|
PARTICULARS |
31 March 2017 |
|
|
No of shares |
Amount In Million |
|
|
At the beginning of the year |
79469000 |
158.900 |
|
Issued during the year |
|
-- |
|
Share spilt during the year |
79469000 |
|
|
Outstanding at the end of
the year |
158938000 |
158.900 |
Terms/Rights attached
to equity shares
The company has only one class of equity share having face value of INR 1/- per share (31 March 2016: INR 2/).The holder of the equity shares is entitled to receive dividend as declared from time to time. The dividend proposed by the Board of Directors is subject to approval of the shareholders in ensuing annual general meeting. The holder of share is entitled to voting rights proportionate to their share holding.
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive assets of the Company remaining after settlement of all liabilities. The distribution will be in proportion to the number of equity shares held by the shareholders.
Share Spilt during
the current year
The equity shares of the Company were split off from face value of INR 2/- each to INR 1/- each. In this regard, the Board of Directors of the Company has accorded its approval at its meeting held on June 16, 2016 and shareholders have approved the same at the Annual General Meeting held on August 24, 2016. Accordingly, NSE & BSE have changed the face value of equity shares of the Company w.e.f. October 4, 2016 and consequently equity shares of the company changed from 79469000 of INR 2/- each to 158938000 of INR 1/- each.
Following
shareholders hold equity shares more than 5% of the total equity shares of the
Company:
|
Name of Shareholder |
31 March 2017 |
|
|
Number of shares held having face value of INR 1 each |
% of holding in class |
|
|
Kajaria Exports Private Limited |
-- |
-- |
|
Kajaria Securities Private Limited |
64365138 |
40.50% |
|
Pearl Tile Marketing Private Limited |
-- |
-- |
|
Cheri Ceramics Private Limited |
-- |
-- |
|
Jwalamukhi Investment Holding |
-- |
-- |
|
Westbridge Crossover Fund LLC |
11,770,840 |
7.41% |
Consolidation of
promoter group Companies
Pursuant to the Composite Scheme of Arrangement approved by the Hon’ble High Court of Punjab and Haryana on April 29, 2016, the erstwhile promoter companies namely, Kajaria Exports Private Limited, Pearl Tile Marketing Private Limited and Cheri Ceramics Private Limited stands merged (‘Merged entities’) with another promoter company i.e. Kajaria Securities Private Limited (KSPL). Accordingly, the shareholding of the merged entities in the Company have been transferred to KSPL.
Preference share
capital
The Company also has authorised preference share capital of 1000000 shares (31 March 2016: 1000000, 1 April 2015: 1000000) of INR 100 each
FINANCIAL DATA
[all figures are
in 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 |
158.900 |
158.900 |
158.900 |
|
(b) Reserves & Surplus |
11638.000 |
9402.700 |
7062.400 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
11796.900 |
9561.600 |
7221.300 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
27.000 |
27.000 |
12.300 |
|
(b) Deferred tax liabilities (Net) |
990.800 |
845.100 |
695.400 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
99.500 |
93.100 |
97.300 |
|
Total Non-current
Liabilities (3) |
1117.300 |
965.200 |
805.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
77.800 |
397.300 |
786.300 |
|
(b) Trade
payables |
2281.500 |
2312.600 |
1786.300 |
|
(c) Other
current liabilities |
1219.400 |
1275.100 |
872.900 |
|
(d) Short-term
provisions |
100.100 |
86.700 |
481.200 |
|
Total Current
Liabilities (4) |
3678.800 |
4071.700 |
3926.700 |
|
|
|
|
|
|
TOTAL |
16593.000 |
14598.500 |
11953.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
7163.100 |
6606.200 |
5124.500 |
|
(ii)
Intangible Assets |
27.500 |
19.900 |
17.800 |
|
(iii)
Capital work-in-progress |
47.900 |
58.100 |
37.100 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1088.900 |
1088.900 |
791.900 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
1904.300 |
1496.200 |
1087.300 |
|
(e) Other
Non-current assets |
23.100 |
36.900 |
0.000 |
|
Total Non-Current
Assets |
10254.800 |
9306.200 |
7058.600 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2346.600 |
2199.900 |
2019.600 |
|
(c) Trade
receivables |
3059.000 |
2522.000 |
1917.800 |
|
(d) Cash
and cash equivalents |
486.700 |
48.100 |
60.500 |
|
(e)
Short-term loans and advances |
97.200 |
114.500 |
889.400 |
|
(f) Other
current assets |
348.700 |
407.800 |
7.100 |
|
Total
Current Assets |
6338.200 |
5292.300 |
4894.400 |
|
|
|
|
|
|
TOTAL |
16593.000 |
14598.500 |
11953.000 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
25279.600 |
24430.200 |
22331.400 |
|
|
Other Income |
253.400 |
258.200 |
84.900 |
|
|
TOTAL |
25533.000 |
24688.400 |
22416.300 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
4039.500 |
3450.400 |
3346.500 |
|
|
Purchases of
Stock-in-Trade |
9328.600 |
10357.700 |
9675.400 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(128.700) |
(89.900) |
(455.600) |
|
|
Employees benefits
expense |
2205.200 |
1896.900 |
1692.000 |
|
|
Other expenses |
5448.400 |
4973.900 |
5212.600 |
|
|
Exceptional items |
0.000 |
15.100 |
0.000 |
|
|
Litigation Settlement |
0.000 |
0.000 |
57.500 |
|
|
TOTAL |
20893.000 |
20604.100 |
19528.400 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
4640.000 |
4084.300 |
2887.900 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
35.400 |
67.200 |
59.700 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
4604.600 |
4017.100 |
2828.200 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
532.000 |
472.000 |
393.800 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
4072.600 |
3545.100 |
2434.400 |
|
|
|
|
|
|
|
Less |
TAX |
1371.000 |
1175.100 |
750.800 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
2701.600 |
2370.000 |
1683.600 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
354.600 |
238.500 |
459.500 |
|
|
TOTAL EARNINGS |
354.600 |
238.500 |
459.500 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
76.700 |
15.700 |
31.800 |
|
|
Components and Stores
parts |
76.700 |
187.300 |
185.700 |
|
|
Capital Goods |
229.000 |
830.500 |
261.300 |
|
|
Traded Goods |
3.600 |
273.800 |
734.900 |
|
|
Other |
25.100 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
411.100 |
1307.300 |
1213.700 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
Basic |
16.96 |
14.87 |
21.8 |
|
|
Diluted |
16.91 |
14.83 |
21.8 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
2.600 |
9.300 |
16.100 |
|
Cash generated from operations |
3503.500 |
3999.800 |
848.200 |
|
Net cash flow from operating activity |
2336.100 |
3045.700 |
89.900 |
QUARTERLY RESULTS
|
Particulars |
30.06.2017 |
30.09.2017 |
|
Unaudited |
1st Quarter |
2nd Quarter |
|
Net Sales |
6690.000 |
6338.400 |
|
Total Expenditure |
5749.500 |
5085.400 |
|
PBIDT (Excl OI) |
940.500 |
1253.000 |
|
Other Income |
53.200 |
41.200 |
|
Operating Profit |
993.700 |
1294.200 |
|
Interest |
9.800 |
15.400 |
|
Exceptional Items |
(36.100) |
NA |
|
PBDT |
947.800 |
1278.800 |
|
Depreciation |
147.300 |
151.200 |
|
Profit Before Tax |
800.500 |
1127.600 |
|
Tax |
279.100 |
378.400 |
|
Provisions and contingencies |
NA |
NA |
|
Profit After Tax |
521.400 |
749.200 |
|
Extraordinary Items |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
|
Other Adjustments |
NA |
NA |
|
Net Profit |
521.400 |
749.200 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
44.17 |
37.68 |
31.35 |
|
|
|
|
|
|
Account Receivables Turnover ( Income / Sundry Debtors) |
8.26 |
9.69 |
11.64 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
62.29 |
61.13 |
50.07 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.98 |
1.86 |
1.43 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.64 |
0.61 |
0.56 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.22 |
0.28 |
0.33 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.01 |
0.05 |
0.11 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.31 |
0.43 |
0.54 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.61 |
0.70 |
0.72 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
131.07 |
60.78 |
48.37 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
10.69 |
9.70 |
7.54 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
16.28 |
16.23 |
14.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
22.90 |
24.79 |
23.31 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.72 |
1.30 |
1.25 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.09 |
0.76 |
0.73 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.71 |
0.65 |
0.60 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.68 |
2.73 |
5.13 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.72 |
1.30 |
1.25 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 1.00/- |
|
Market Value |
INR 715.70/- |
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 |
158.900 |
158.900 |
158.900 |
|
Reserves & Surplus |
7062.400 |
9402.700 |
11638.000 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
7221.300 |
9561.600 |
11796.900 |
|
|
|
|
|
|
long-term borrowings |
12.300 |
27.000 |
27.000 |
|
Short term borrowings |
786.300 |
397.300 |
77.800 |
|
Current Maturities of
Long term debt |
16.100 |
9.300 |
2.600 |
|
Total borrowings |
814.700 |
433.600 |
107.400 |
|
Debt/Equity ratio |
0.113 |
0.045 |
0.009 |
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 |
22331.400 |
24430.200 |
25279.600 |
|
|
|
9.398 |
3.477 |
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 |
22331.400 |
24430.200 |
25279.600 |
|
Profit/(Loss) |
1683.600 |
2370.000 |
2701.600 |
|
|
7.54% |
9.70% |
10.69% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
158.900 |
158.900 |
|
(b) Reserves &
Surplus |
|
11592.300 |
9560.100 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Non- controlling interests |
|
760.200 |
761.300 |
|
Total Shareholders’ Funds
(1) + (2) |
|
12511.400 |
10480.300 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1155.000 |
1421.100 |
|
(b) Deferred tax
liabilities (Net) |
|
1106.200 |
948.900 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
103.100 |
95.700 |
|
Total Non-current
Liabilities (3) |
|
2364.300 |
2465.700 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
550.800 |
1104.900 |
|
(b) Trade payables |
|
2921.000 |
2927.800 |
|
(c) Other current
liabilities |
|
1951.200 |
2114.100 |
|
(d) Short-term provisions |
|
102.500 |
88.500 |
|
Total Current Liabilities
(4) |
|
5525.500 |
6235.300 |
|
|
|
|
|
|
TOTAL |
|
20401.200 |
19181.300 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
11626.800 |
11065.800 |
|
(ii) Intangible Assets |
|
40.700 |
33.900 |
|
(iii) Capital
work-in-progress |
|
82.600 |
78.300 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(v) Goodwill |
|
105.400 |
105.400 |
|
(b) Non-current Investments |
|
0.900 |
0.800 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
186.200 |
221.500 |
|
(e) Other Non-current
assets |
|
120.900 |
73.900 |
|
Total Non-Current Assets |
|
12163.500 |
11579.600 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
3720.200 |
3841.700 |
|
(c) Trade receivables |
|
3389.200 |
2741.100 |
|
(d) Cash and cash
equivalents |
|
519.600 |
215.200 |
|
(e) Short-term loans and
advances |
|
30.300 |
98.800 |
|
(f) Other current assets |
|
578.400 |
704.900 |
|
Total Current Assets |
|
8237.700 |
7601.700 |
|
|
|
|
|
|
TOTAL |
|
20401.200 |
19181.300 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
25496.300 |
24134.500 |
|
|
Other Income |
|
153.600 |
104.300 |
|
|
TOTAL |
|
25649.900 |
24238.800 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
6771.300 |
6683.500 |
|
|
Purchases of
Stock-in-Trade |
|
2296.700 |
2437.200 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
126.300 |
-657.200 |
|
|
Employees benefits
expense |
|
2887.100 |
2522.800 |
|
|
Other expenses |
|
8451.600 |
8573.600 |
|
|
TOTAL |
|
20533.000 |
19559.900 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
5116.900 |
4678.900 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
340.000 |
344.600 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
4776.900 |
4334.300 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
813.900 |
726.100 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
3963.000 |
3608.200 |
|
|
|
|
|
|
|
Less |
TAX |
|
1424.900 |
1247.100 |
|
|
|
|
|
|
|
|
PROFIT FOR THE YEAR
FROM CONTINUING OPERATIONS |
|
2538.100 |
2361.100 |
|
|
|
|
|
|
|
|
OTHER COMPREHENSIVE
INCOME |
|
|
|
|
|
PROFIT FROM
CONTINUING OPERATIONS FOR THE PERIOD ATTRIBUTABLE TO: |
|
|
|
|
|
OWNERS OF THE COMPANY |
|
2528.400 |
2313.300 |
|
|
NON CONTROLLING INTERESTS |
|
9.700 |
47.800 |
|
|
OTHER COMPREHENSIVE
INCOME |
|
|
|
|
|
ITEMS THAT WILL NOT
BE RECLASSIFIED TO PROFIT OR LOSS IN SUBSEQUENT PERIODS |
|
|
|
|
|
RE-MEASUREMENT GAINS (LOSSES) ON DEFINED BENEFIT PLANS |
|
(11.000) |
(10.400) |
|
|
INCOME TAX EFFECT |
|
3.800 |
3.600 |
|
|
TOTAL OTHER COMPREHENSIVE
INCOME FOR THE YEAR, NET OF TAX |
|
(7.200) |
(6.800) |
|
|
TOTAL COMPREHENCIVE
INCOME FOR THE YEAR, NET OF TAX |
|
2521.200 |
230.65 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
Basic |
|
15.86 |
14.51 |
|
|
Diluted |
|
15.82 |
14.47 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
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 |
CORPORATE INFORMATION
The company is a limited company domiciled in India and was incorporated on 20th December, 1985. Equity shares of the Company are listed in India on the Bombay stock exchange and the National stock exchange. The registered office of the Company is located at SF-11, Second Floor, JMD Regent Plaza Mehrauli Gurgaon Road, Village Sikanderpur Ghosi Gurgaon Haryana - 122001, India.
Subject is the largest manufacturers of ceramic and vitrified wall and floor tiles in the country and 9th largest in the world. The company started its operation in 1988 with a capacity to produce 1 million sq mtr tiles per annum at Sikandrabad (U P). Today it has got nine plants with an aggregate capacity of 68.90 million sq mtr per annum – one in Sikandrabad (UP), one in Gailpur (Rajasthan), one in Malootana (Rajasthan), five in Morbi (Gujarat) and one in Vijaywada (AP).
The company, through its subsidiary Kajaria Bathware Private Limited, has also forayed into manufacturing sanitaryware and faucet. It has 5.40 million pieces of sanitaryware capacity in Morbi (Gujarat) and 10 million pieces of faucet facility in Gailpur (Rajasthan).
The financial statements of the company for the year ended 31st March 2017 were authorized for issue in accordance with a resolution of the directors on 15th May, 2017.
OUTLOOK
Investment-inducing and business-strengthening Government policies coupled with growing affluence and soaring aspiration are expected to sustain the sectoral growth momentum over the coming years. Further, the promise of industry consolidation arising out of Government policies, raises the hopes for widening growth opportunities over the medium term.
MANAGEMENT DISCUSSION
AND ANALYSIS
Economic overview
Global overview
Global growth slowed to 3.1% in 2016 and is estimated to recover in 2017. This stable average growth rate masks divergent developments in different country groups. There was a stronger-than-expected growth in advanced economies, primarily owing to reduced inventories and marginal manufacturing output recovery. But this uptick was partially negated by an unexpected slowdown in some emerging market economies. Going forward, economic activity in advanced economies and EMDEs (emerging markets and developing economies) is forecast to accelerate in 2017 and 2018, with global growth projected to be 3.4% and 3.6%, respectively.
Indian overview
With a GDP at Rs. 121.90 lakh crore (at constant (2011-12) prices), India ranks as the fifth largest economy. India was also the fastest-growing major economy as per the Central Statistics Organisation (CSO) and International Monetary Fund (IMF). The Economic Survey 2016 describes The Indian economy has been growing at an accelerated pace since 2014, supported by government reforms and stringent fiscal management.
During 2016-17, the Indian economy sustained relatively low inflation, fiscal discipline and moderate current account deficit coupled with a broadly stable rupee-dollar exchange rate. Despite this reality, the nation’s GDP grew 7.1 % in 2016-17 against 7.9% in 2015-16. This lacklustre performance was largely due to the Government’s demonetization initiative which impacted economic activity in cash-sensitive sectors. The yearon- year (y-o-y) growth of Gross Value Added for the services sector (excluding construction) remained largely stagnant between 2015-16 and 2016-17.
OUTLOOK:
India’s economic growth is expected to improve in 2017-18. The impact of demonetisation could dissipate in 2017-18 with economic growth recovery. The adoption of the Goods and Service Tax (GST) will create a single national market for enhancing the efficiency of the movement of goods and services which could catalyse India’s medium-term GDP growth momentum near to 8%.
INDEX
OF CHARGES
|
Charges Registered |
||||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G59431445 |
100126903 |
THE PRADESHIYA INDUSTRIAL AND INVESTMENT CORPORATION OF UTTAR PRADESH LIMITED |
31/08/2017 |
16/10/2017 |
- |
61994623.0 |
PICUP BHAWANGOMTI NAGAR LUCKNOW UTTAR PRADESH 226010 INDIA |
|
2 |
C82078056 |
10626918 |
PICUP |
17/03/2016 |
- |
- |
51095957.0 |
PICUP BHAWAN VIBHUTI KHANDGOMTI NAGAR LUCKNOW UTTAR PRADESH 226010 INDIA |
|
3 |
C82076605 |
10626912 |
PICUP |
17/03/2016 |
- |
- |
829000.0 |
PICUP BHAWAN VIBHUTI KHANDGOMTI NAGAR LUCKNOW UTTAR PRADESH 226010 INDIA |
|
4 |
B36800548 |
10163191 |
IDBI BANK LIMITED |
27/06/2009 |
29/03/2012 |
- |
800000000.0 |
Indian Red Cross Society Bldg.3rd Floor,1, Red Cross Road New Delhi 110001 INDIA |
|
5 |
G42994483 |
80022109 |
State Bank of India |
09/03/2006 |
10/04/2017 |
- |
1164000000.0 |
INDUSTRIAL FINANCE BRANCH, CREDIT DIVISION14TH FLOOR, JAWAHAR VYAPAR BHAWAN, 1, TOLSTOY MARG NEW DELHI 110001 INDIA |
|
6 |
A78630035 |
90275989 |
HDFC BANK LIMITED |
29/09/2004 |
12/01/2010 |
- |
100000000.0 |
26, K.G.MARGCANNAUGHT PLACE NEW DELHI 110001 INDIA |
|
7 |
Y10386271 |
90269684 |
HDFC BANK LIMITED |
28/09/2004 |
26/10/2006 |
- |
100000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WEST MUMBAI MAHARASHTRA 400013 INDIA |
|
8 |
G06338776 |
90270045 |
Canara Bank |
25/08/1990 |
27/01/2016 |
- |
505000000.0 |
DDA BUILDING NEAR PARAS CINEMA, NEHRU PLACE NEW DELHI 110019 INDIA |
|
9 |
C48249874 |
10229228 |
IDBI Bank Limited |
24/07/2010 |
25/01/2011 |
21/03/2015 |
800000000.0 |
Indian Red Cross Society Bldg.3rd Floor,1, Red Cross Road New Delhi 110001 INDIA |
|
10 |
C46527958 |
90277729 |
STATE BANK OF MYSORE |
20/07/2004 |
10/07/2008 |
18/02/2015 |
5000000.0 |
NO. 3,4 AND 5D D A BUILDING, NEHRU PLACE, New Delhi 110019 INDIA |
STATEMENT OF STANDALONE 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 |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
1. INCOME |
|
|
|
|
Revenue from operations |
6338.400 |
6690.000 |
13028.400 |
|
Other Operating Income |
41.200 |
53.200 |
94.400 |
|
Total Income |
6379.600 |
6743.200 |
13122.800 |
|
|
|
|
|
|
Expenses |
|
|
|
|
Cost of materials consumed |
1282.000 |
1154.000 |
2436.000 |
|
Purchases of stock-in trade |
1882.700 |
2237.900 |
4120.600 |
|
Changes in inventories of finished goods. work-in-progress and stock
in trade |
108.800 |
(254.900) |
(146.100) |
|
Excise Duty |
0.000 |
475.700 |
475.700 |
|
Employee benefits expense |
642.300 |
584.100 |
1226.400 |
|
Finance Cost |
15.400 |
9.800 |
25.200 |
|
Depreciation and Amortization Expenses |
151.200 |
147.300 |
298.500 |
|
Power and Fuel |
797.600 |
746.300 |
1543.900 |
|
Other Expenses |
372.000 |
806.400 |
1178.400 |
|
Total Expenses |
5252.000 |
5906.600 |
11158.600 |
|
Profit before exceptional items and tax |
1127.600 |
836.600 |
1964.200 |
|
Exceptional items |
0.000 |
(36.100) |
(36.100) |
|
Profit before tax |
1127.600 |
800.500 |
1928.100 |
|
Tax expenses |
|
|
|
|
-Current Tax |
355.200 |
270.100 |
625.300 |
|
-Deferred Tax |
23.200 |
9.000 |
32.200 |
|
Profit for the period |
749.200 |
521.400 |
1270.600 |
|
Other Comprehensive Income |
|
|
|
|
Items that will not be reclassified to profit or loss |
(7.400) |
(4.800) |
(12.200) |
|
Total comprehensive income for the period |
741.800 |
516.600 |
1258.400 |
|
Paid up equity share capital (Face Value of INR 1/-each) |
158.900 |
158.900 |
158.900 |
|
Other equity |
|
|
|
|
Earnings per share |
|
|
|
|
(a) Basic |
4.71 |
3.28 |
7.99 |
|
(b) Diluted |
4.70 |
3.27 |
7.97 |
STATEMENT
OF UNAUDITED STANDALONE ASSETS AND LIABILITIES
(INR
In Million)
|
SOURCES OF FUNDS |
30.09.2017 (Unaudited) |
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
(1)Shareholders' Funds |
|
|
(a) Share Capital |
158.900 |
|
(b) Reserves &
Surplus |
12331.200 |
|
(c) Money received
against share warrants |
0.000 |
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
12490.100 |
|
|
|
|
(3) Non-Current
Liabilities |
|
|
(a) long-term borrowings |
28.700 |
|
(b) Deferred tax
liabilities (Net) |
1023.100 |
|
(c) Other long term
liabilities |
0.000 |
|
(d) long-term provisions |
125.200 |
|
Total Non-current
Liabilities (3) |
1177.000 |
|
|
|
|
(4) Current Liabilities |
|
|
(a) Short term borrowings |
357.400 |
|
(b) Trade payables |
1832.500 |
|
(c) Other current
liabilities |
1743.100 |
|
(d) Short-term provisions |
115.600 |
|
Total Current Liabilities
(4) |
4048.600 |
|
|
|
|
TOTAL |
17715.700 |
|
|
|
|
II.
ASSETS |
|
|
(1) Non-current assets |
|
|
(a) Fixed Assets |
|
|
(i) Tangible assets |
7487.100 |
|
(ii) Intangible Assets |
26.400 |
|
(iii) Capital
work-in-progress |
32.400 |
|
(iv) Intangible assets
under development |
0.000 |
|
(b) Non-current
Investments |
1046.700 |
|
(c) Deferred tax assets
(net) |
0.000 |
|
(d) Long-term Loan and Advances |
1670.400 |
|
(e) Other Non-current
assets |
20.200 |
|
Total Non-Current Assets |
10283.200 |
|
|
|
|
(2) Current assets |
|
|
(a) Current investments |
0.000 |
|
(b) Inventories |
2628.800 |
|
(c) Trade receivables |
3897.000 |
|
(d) Cash and cash
equivalents |
421.300 |
|
(e) Short-term loans and
advances |
169.500 |
|
(f) Other current assets |
315.900 |
|
Total Current Assets |
7432.500 |
|
|
|
|
TOTAL |
17715.700 |
Notes:
- The above financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 30th October, 2017 and have undergone 'Limited Review' by the statutory auditors of the Company.
- The above results have been prepared in accordance with the Indian Accounting Standards (Ind AS') as notified under the Comapnies (Indian Accounting Standards) Rules, 2015 as specified under section 133 of the Companies Act, 2013
- Post the applicablity of ggods and Servces tax (GST) with effect from 1 July, 2017, revenue from operations are required to be disclosed net of GST in accordance with teh requirements of Ind AS. Accordingly the revenue from operations for the quarter ended and six months ended on 30th September, 2017 are not comparable with the immediately preceding quarter ended 30th June, 2017 and corresponding previous periods in the financial results which are reported inclusive of Excise duty.
- The Company's falls within a singe segment in terms of the Indian Accounting Standards 108 ' Operating Segments' and hence no additional disclosures are required in this regard.
- In september, 2017 the Company has added 3.50 MSM ceramics floor tile capacity at existing location at Gailpur (Rajasthan)
- The figures for the corresponding period/previous year have been regrouped/rearranged whereever necessary to make them comparable.
CONTINGENT
LIABILITIES: (As on 31.03.2017)
- Counter guarantees issued in respect of guarantees issued by company’s bankers INR 29.900 Million (March 31, 2016 - INR10.100 Million, April 1, 2015 – INR 11.200 Million)
- Guarantees provided on behalf of subsidiaries INR 2432.300 Million (March 31, 2016 – INR 2092.400 Million, April 1, 2015 - INR 2232.3000 Million)
- In respect of VAT, Service Tax and Custom Duty Demands pending before various authorities and in dispute INR 2.300 Million (March 31, 2016 – INR 14.500 Million, April 1, 2015 – INR 9.200 Million)
- In respect of pending income tax demands INR Nil (March 31, 2016 - INR Nil, April 1, 2015 – INR 1.800 Million)
- In respect of Consumer Cases INR 17.800 Million (March 31, 2016 – INR 12.800 Million, April 1, 2015 – INR 20.200 Million)
FIXED ASSETS
- Freehold Land
- Leasehold Land
- Buildings
- Plant and equipment
- Furniture and Fixtures
- Vehicles
- Office Equipments
- Computers
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 63.88 |
|
|
1 |
INR 88.59 |
|
Euro |
1 |
INR 78.12 |
INFORMATION DETAILS
|
Information Gathered
by : |
PNM |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
SUD |
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.