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MIRA INFORM REPORT
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Report No. : |
488689 |
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Report Date : |
29.01.2018 |
IDENTIFICATION DETAILS
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Name : |
UPL LIMITED (w.e.f 23.10.2013) |
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Formerly Known As: |
UNITED PHOSPHOROUS LIMITED |
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Registered
Office : |
3 -11, G.I.D.C., Vapi, District
Valsad - 396195, Gujarat |
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Tel. No.: |
91-260-2400717/ 2401945/ 2401960/ 2401718/ 2401719 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
02.01.1985 |
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Com. Reg. No.: |
04-025132 |
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Capital
Investment / Paid-up Capital : |
INR 1830.000 Million |
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CIN No.: [Company Identification
No.] |
L24219GJ1985PLC025132 |
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IEC No.: |
0394016378 |
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GSTIN : |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCS1698G |
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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
: |
The business of the Company is divided into two business segments. The business of each segment comprises of: · Agro activity – This is the main area of the Company’s operation and includes the manufacture and marketing of conventional agrochemical products, seeds and other agricultural related products. · Non-agro activity – Non agro activities includes manufacture and marketing of industrial chemical and other nonagricultural related products. (Registered Activity) |
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No. of Employees
: |
3489 (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+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Maximum Credit Limit : |
USD 221430000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject was incorporated in the year 1985. The company is engaged in manufacturing and marketing of crop protection products, intermediates, specialty chemicals and other industrial chemicals. Its products include insecticides, fungicides, herbicides, fumigants, PGR (plant growth and regulators) and rodenticides. As per the financial of 2017, the company has achieved a favourable growth of 15.99% in its revenue as compared to previous year’s revenue and has reported an average profitability margin of 3.53%. Rating continues to derive strength from dominant market position of the company in the global agrochemical market supported by strong and diversified product portfolio, integrated and diversified operations across geographies. The sound financial profile of the company is reflected by its healthy solvency indicators due to low debt balance sheet profile along with above average net worth base and satisfactory liquidity position. The company has its share price trading at around INR 768.65 on BSE as on January 27, 2018 as against the Face Value (FV) of INR 2. However, rating strength partially offset by vulnerability of its operating margins to volatility in raw material prices and working capital intensive operations. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment. In view of strong financial position of the company, it can be considered good for normal business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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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 |
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 29.01.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
LOCATIONS
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Registered Office : |
3-11, G.I.D.C., Vapi, District
– 396195, Gujarat, India |
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Tel. No.: |
91-260-2400717/ 2401945/ 2401960/ 2401718/ 2401719/ 2432716 |
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Fax No.: |
91-260-2401823 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Administrative
Office/ Corporate Office: |
UPL House, 610, B/2, Bandra Village, Off Western Express Highway, Bandra (East), Mumbai - 400 051, Maharashtra, India |
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Tel. No.: |
91-22-7152 8000 |
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Fax No.: |
91-22-7152 8886 |
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Head Quarters : |
Uniphos House, 11 C D Marg, Khar (West), Mumbai - 400 052, Maharashtra, India |
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E-mail : |
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Factory 1 : |
Green Park Area, Block No 103/B, A/D, Gandhi Nagar - 180004, Jammu, India |
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Tel No.: |
91-191-2430671 |
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Factory 2 : |
Agrochemical Plant, Durgachak Haldia, Midnapore - 721602, West Bengal, India |
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Tel No.: |
91-33-22486908 |
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Factory 3 : |
Plot No 750, G.I.D.C., Jhagadia, District Bharuch, Gujarat, India |
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Tel No.: |
91-2645-26012 - 15 |
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Factory 4 : |
Serial No.225, Village Gopipura, Via Baska Taluka, Halol City, District Panchmal - 389 350, Gujarat, India |
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Tel No.: |
91-2676-247068, 247052 |
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Fax No.: |
91-2676-247068 |
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Factory 5 : |
ANKLESWAR - UNIT I
:-
Tel: 91-2646 - 251223,250336,251249,250279,250379 Fax: 91-2646 - 250297 ANKLESHWAR - UNIT
II : -
Tel: 91-2646 - 250578,250493,250563 Fax: 91-2646 - 251434 ANKLESHWAR - UNIT
III : -
Fax: 02646 – 250615 |
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Factory 6 : |
3-11, GIDC, Vapi City – Valsad District, 396 195, Gujarat, India |
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Tel No.: |
91-260-2401718, 2401719 |
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Fax No.: |
91-260-2401823 |
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Sales Office : |
V-Fortune Building, 3rd Floor, S V Road, Next to Surya Children's
Hospital, Near Vijay Sales, Opposite Petrol Pump, Santacruz (West),
Mumbai - 400052, Maharashtra, India |
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Tel. No.: |
91-22-27847769/ 27811554 |
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Fax No.: |
91-79-27842399 |
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Email : |
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Godown : |
Survey No 154/B/1, Shed 2, S V Cooperative Industrial Estate, IDA
Bollaram, Jinnaram, Medak - 502313, Telangana, India |
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Overseas Offices
: |
Located At : ·
Zambia ·
China ·
Australia ·
Japan ·
Russia ·
Korea ·
Vietnam ·
New Zealand ·
United Kingdom |
DIRECTORS
AS ON: 31.03.2017
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Name : |
Mr. Rajnikant Devidas Shroff |
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Designation : |
Whole Time Director |
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Address : |
Kinara, Next to Milton Apartments, Juhu Tara Road, Juhu, Mumbai -
400049 Maharashtra, India |
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Date of Appointment : |
01.10.2013 |
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DIN No.: |
00180810 |
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Name : |
Mr. Arun Chandrasen Ashar |
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Designation : |
Whole Time Director |
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Address : |
Muktagan, 10th Floor, Sarojini Road, Santacruz (West), Mumbai -
400054, Maharashtra, India |
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Date of Appointment : |
01.03.1993 |
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DIN No.: |
00192088 |
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Name : |
Mr. Kalyan Mohan Banerjee |
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Designation : |
Whole Time Director |
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Address : |
B 1903, Lake Castle, Hiranandani Gardens Powai, Mumbai - 400076,
Maharashtra, India |
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Date of Appointment : |
01.10.2008 |
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DIN No.: |
00276866 |
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Name : |
Mr. Pradeep Vedprakash Goyal |
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Designation : |
Director |
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Address : |
171/172, 17th Floor, Kalpataru Horizon, Tower A S.K. Ahire Marg,
Worli, Mumbai - 400018, Maharashtra, India |
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Date of Appointment : |
31.01.2002 |
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DIN No.: |
00008370 |
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Name : |
Mr. Hardeep Singh |
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Designation : |
Director |
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Address : |
608A, The Aralias, DLF Golf Links, DLF PH5, Gurugram - 122009,
Haryana, India |
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Date of Appointment : |
30.07.2015 |
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DIN No.: |
00088096 |
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Name : |
Mr. Vinod Rajindranath Sethi |
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Designation : |
Director |
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Address : |
New No. 2, Old No. 11, III Street, Kasthuri Estate Poes Garden,
Gopalapuram, Chennai - 600086, Tamilnadu, India |
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Date of Appointment : |
30.01.2006 |
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DIN No.: |
00106598 |
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Name : |
Mrs. Sandra Rajnikant Shroff |
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Designation : |
Director and Vice Chairman |
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Address : |
202, Parishram Nargis Dutt Road, Bandra (West), Mumbai - 400050,
Maharashtra, India |
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Date of Appointment : |
01.10.1992 |
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DIN No.: |
00189012 |
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Name : |
Mr. Jaidev Rajnikant Shroff |
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Designation : |
Director |
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Address : |
4/B, Summer Palace, Pali Hill Nargis Dutt Road, Bandra (West), Mumbai
– 400050, Maharashtra, India |
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Date of Appointment : |
30.01.2007 |
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DIN No.: |
00191050 |
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Name : |
Mr. Vikram Rajnikant Shroff |
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Designation : |
Director |
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Address : |
4 B, Samir Palace, 61 B, Pali Hill, Nargis Dutt Marg, Bandra,
Mumbai - 400050, Maharashtra, India |
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Date of Appointment : |
26.03.2013 |
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DIN No.: |
00191472 |
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Name : |
Dr. Reena Ramachandran |
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Designation : |
Director |
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Address : |
53-C, H-Block Saket, New Delhi - 110017, India |
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Date of Appointment : |
21.10.2003 |
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DIN No.: |
00212371 |
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Name : |
Mr. Pradip Pranjivan Madhavji |
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Designation : |
Director |
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Address : |
Aashiana, 1 Floor, 5 Altamount Road, Mumbai - 400026, Maharashtra, India |
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Date of Appointment : |
29.01.2004 |
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DIN No.: |
00549826 |
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Name : |
Mr. Vasant Prakash Gandhi |
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Designation : |
Director |
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Address : |
403, Indian Institute of Management Vastrapur, Ahmedabad - 380015,
Gujarat, India |
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Date of Appointment : |
29.06.2016 |
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DIN No.: |
00863653 |
KEY EXECUTIVES
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Name : |
Mr. Mukul Bhupendra Trivedi |
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Designation : |
Company Secretary |
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Address : |
1206, Manish Towers, J. P. Road Andheri (West), Mumbai - 400058, Maharashtra, India |
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Date of Appointment : |
21.10.2003 |
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PAN No.: |
AAAPT8113H |
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Name : |
Mr. Anand Kantilal Vora |
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Designation : |
Chief Finance Officer |
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Address : |
Laxmi Bhuvan, 1st Floor, 9th Road, Khar (West), Mumbai - 400052, Maharashtra, India |
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Date of Appointment : |
02.02.2015 |
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PAN No.: |
ADEPV8168K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on December, 2017
|
Category of shareholder |
Total nos. shares held |
Shareholding as a % of total no. of
shares (calculated as per SCRR, 1957)As a % |
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(A) Promoter & Promoter
Group |
141472078 |
27.83 |
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(B) Public |
366635549 |
72.12 |
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(C) Non Promoter-Non Public |
249120 |
0.05 |
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Grand Total |
508356747 |
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 |
||
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Individuals/Hindu
undivided Family |
3389794 |
0.67 |
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Shilpa P Sagar |
2887159 |
0.57 |
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Jyotsna J Bhatt |
448750 |
0.09 |
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Varun Jaidev Shroff |
26500 |
0.01 |
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Tania Jaidev Shroff |
15385 |
0.00 |
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Rajju D Shroff |
10000 |
0.00 |
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Mekhala Vikram Shroff |
2000 |
0.00 |
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Any
Other (specify) |
128179292 |
25.23 |
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Nerka Chemicals Private
Limited |
101423324 |
19.96 |
|
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Uniphos Enterprises Limited |
25549798 |
5.03 |
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Archana Overseas Private
Limited |
897226 |
0.18 |
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Esthetic Finvest Private
Limited |
112522 |
0.02 |
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Demuric Holdings Private
Limited |
104162 |
0.02 |
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R Shroff Consultants Private
Limited |
92260 |
0.02 |
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Sub
Total A1 |
131569086 |
25.89 |
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A2) Foreign |
0.00 |
||
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Individuals
(NonResident Individuals/ Foreign Individuals) |
9902992 |
1.95 |
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Jaidev Rajnikant Shroff |
5400109 |
1.06 |
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Vikram Rajnikant Shroff |
4502883 |
0.89 |
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Sub
Total A2 |
9902992 |
1.95 |
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A=A1+A2 |
141472078 |
27.84 |
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 (A+B+C2) |
|
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B1)
Institutions |
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Mutual
Funds/ |
52893390 |
10.41 |
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Sbi Blue Chip Fund |
13436027 |
2.64 |
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HDFC TRUSTEE COMPANY LIMITED -
A/C HDFC MID - CAPOPPORTUNITIES FUND |
9824433 |
1.93 |
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Alternate
Investment Funds |
150000 |
0.03 |
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Foreign
Portfolio Investors |
201028024 |
39.56 |
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Government Pension Fund Global |
11448976 |
2.25 |
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Government Of Singapore |
7059571 |
1.39 |
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Vanguard Emerging Markets
Stock Index Fund, Aseries Of Vanguard International Equity Inde X Fund |
6121101 |
1.20 |
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Mawer International Equity
Fund |
5512483 |
1.08 |
|
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ABU DHABI INVESTMENT AUTHORITY
- ITCHEN |
6486731 |
1.28 |
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Financial
Institutions/ Banks |
3794972 |
0.75 |
|
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Any
Other (specify) |
33000 |
0.01 |
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Foreign Bank |
33000 |
0.01 |
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Sub
Total B1 |
257899386 |
50.76 |
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B2)
Central Government/ State Government(s)/ President of India |
0 |
0.00 |
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Central
Government/ State Government(s)/ President of India |
1714415 |
0.34 |
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Sub
Total B2 |
1714415 |
0.34 |
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B3)
Non-Institutions |
0 |
0.00 |
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Individual
share capital upto INR 0.200 Million |
28434258 |
5.60 |
|
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Individual
share capital in excess of INR 0.200 Million |
3997796 |
0.79 |
|
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Overseas
Depositories (holding DRs) (balancing figure) |
0 |
8.29 |
|
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JP MORGAN CHASE BANK, NA , |
0 |
8.29 |
|
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Any Other
(specify) |
32485752 |
6.39 |
|
|
Trusts |
2497792 |
0.49 |
|
|
Foreign Individuals |
173348 |
0.03 |
|
|
HUF |
602332 |
0.12 |
|
|
Foreign Companies |
68193 |
0.01 |
|
|
NRI – Non- Repat |
693771 |
0.14 |
|
|
NRI – Repat |
4433059 |
0.87 |
|
|
Overseas corporate bodies |
1660 |
0.00 |
|
|
Clearing Members |
1680837 |
0.33 |
|
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Bodies Corporate |
22334760 |
4.40 |
|
|
Icici Prudential Life
Insurance Company Limited |
6405314 |
1.26 |
|
|
Sub
Total B3 |
64917806 |
21.06 |
|
|
B=B1+B2+B3 |
324531607 |
72.16 |
Statement showing shareholding pattern of the Non Promoter-
Non Public shareholder
|
Category & Name of the
Shareholders(I) |
No. of shareholder(III) |
No. of fully paid up equity shares
held(IV) |
Nos. of shares underlying Depository
Receipts(VI) |
Total no. shares held(VII = IV+V+VI) |
Shareholding % calculated as per SCRR
1957 As a % of (A+B+C2)(VIII) |
Number of equity shares held in
dematerialized form(XIV)(Not Applicable) |
|
|
C1)
Custodian/DR Holder |
0 |
0 |
0.00 |
||||
|
Custodian/DR
Holder |
2 |
0 |
249120 |
249120 |
0.00 |
249120 |
|
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Sub
Total C1 |
2 |
0 |
249120 |
249120 |
0.00 |
249120 |
|
|
C2)
Employee Benefit Trust |
0 |
0 |
0.00 |
||||
|
C=
C1+C2 |
2 |
0 |
249120 |
249120 |
0.00 |
249120 |
BUSINESS DETAILS
|
Line of Business : |
The business of the Company is divided into two business segments. The business of each segment comprises of: · Agro activity – This is the main area of the Company’s operation and includes the manufacture and marketing of conventional agrochemical products, seeds and other agricultural related products. · Non-agro activity – Non agro activities includes manufacture and marketing of industrial chemical and other nonagricultural related products. (Registered Activity) |
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Product / Service: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
3489 (Approximately) |
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Bankers : |
· Dena Bank · Bank of Baroda · State Bank of India · Canara Bank · IDBI Bank Limited · The Karur Vysya Bank Limited · Axis Bank Limited · Andhra Bank · State Bank of Hyderabad · ICICI Bank Limited · Kotak Mahindra Bank Limited |
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Facilities : |
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Auditors : |
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Name : |
SRBC and Company LLP Chartered Accountants |
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Address : |
14th Floor, The Ruby 29, Senapati Bapat Marg, Dadar (West), Mumbai – 400028, Maharashtra, India
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Tel. No.: |
91-22-61920000 |
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Fax No.: |
91-22-61921000 |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary
Companies: |
· Shroffs United Chemicals Limited · SWAL Corporation Limited · United Phosphorus (India) LLP · United Phosphorus Global LLP · Optima Farm Solutions Ltd · UPL Europe Limited (formerly known as United Phosphorus Limited, U.K.) · UPL Deutschland GmbH (formerly known as United Phosphorus GMBH, Germany) · United Phosphorus Polska Sp.z o.o - Poland · UPL Benelux B.V. (formerly known as AgriChem B.V.) · Cerexagri B.V., Netherlands · Blue Star B.V. · United Phosphorus Holdings Cooperatief U.A. · United Phosphorus Holdings B.V. , Netherlands · Decco Worldwide Post-Harvest Holdings Cooperatief U.A. · Decco Worldwide Post-Harvest Holdings B.V. · United Phosphorus Holding, Brazil B.V. · UPL Italia S.R.L. (formerly known as Cerexagri Italia S.R.L.) · UPL Iberia, Sociedad Anonima (formerly know as Compania Espanola Industrial Quimica de Productos Agricolas Y Domesticos, S.A.U.,Spain) · Decco Iberica Postcosecha, S.A.U., Spain (formerly Cerexagri Iberica) Transterra Invest, S. L. U., Spain · Cerexagri S.A.S., France · Neo-Fog S.A. UPL France (formerly known as Aspen SAS) · United Phosphorus Switzerland Limited Agrodan, ApS · Decco Italia SRL, Italy · Decco Portugal Post Harvest, Unipessoal LDA (Formerly UPL Portugal Unipessoal LDA) · United Phosphorus Inc.,U.S.A · UPI Finance LLC · Cerexagri, Inc. (PA) · UPL Delaware, Inc.,USA · Canegrass LLC, U.S.A Decco US Post-Harvest Inc., U.S.A LLC ”UPL” (formerly CJSC United Phosphorus Limited, Russia) · Essentiv LLC RiceCo LLC,USA · Riceco International, Inc., Bahamas · UPL Corporation Limited (Formerly known as Bio-win Corporation Limited, Mauritius) · UPL Limited, Mauritius (Formerly known as Uniphos Limited, Mauritius) · United Phosphorus Limited, Gibraltar (upto 30th March 2017) · UPL Limited, (formerly known as Uniphos Limited), Gibraltar · UPL Management DMCC · UPL Agro S.A. de C.V. (formerly known as United Phosphorus de Mexico, S.A. de C.V.) · Decco Jifkins Mexico Sapi, · Mexico Perrey Participações S.A · United Phosphorus do Brasil Ltda · Uniphos Indústria e Comércio de Produtos Químicos Ltda., Brazil · Upl do Brasil Industria e Comércio de Insumos Agropecuários S.A. · DVA Technology Argentina S.A. · UPL Costa Rica S.A (formerly known as Cerexagri Costa Rica, S.A.) · UPL Bolivia S.A · Icona Sanluis S A , Argentina · UPL Argentina S A (formerly known as Icona S A Argentina) · Decco Chile SpA · UPL Colombia SAS · UPL Paraguay S.A. · United Phosphorus Cayman Limited · UP Aviation Limited, Cayman Island · UPL Australia Limited (formerly known as United Phosphorus Limited) · UPL New Zealand Limited (formerly known as United Phosphorus Limited) · UPL Shanghai Limited (formerly known as United Phosphorus (Shanghai) Company Limited) · UPL Limited (Korea) (formerly known as United Phosphorus (Korea) Limited) PT.UPL Indonesia (formerly known as PT. United Phosphorus Indonesia) · PT Catur Agrodaya Mandiri, Indonesia UPL Limited, Honkong (formerly known as United Phosphorus Limited) · UPL Philippines Inc.(formerly known as United Phosphorus Corp., Philippines) UPL Vietnam Company Limited (formerly known as United Phosphorus Vietnam Company, Limited) · UPL Limited, Japan(formerly known as United Phosphorus Limited, Japan) · Anning Decco Fine Chemical Co. Limited, China · UPL Ziraat Ve Kimya Sanayi Ve Ticaret Limited Sirketi (formerly known as Cerexagri Ziraat Ve Kimya Sanayi Ve Ticaret Limited Sirketi, Turkey) · UPL Agromed Tarim Ilaclari ve Tohumculuk Sanayi ve Ticaret A.S. Safepack Products Limited, Israel · Citrashine (Pty) Limited, South Africa · UPL Africa SARL Pro Long Limited · Agrinet Solutions Limited · Advanta Holdings BV, Netherlands · Advanta Netherlands Holdings BV, Netherlands · Advanta US Inc., USA · Advanta Seeds International, Mauritius · Advanta Seeds DMCC [Formerly Advanta Seeds JLT], UAE · Advanta Commercio De Sementes Ltda, Brazil · Advanta Semillas SAIC, Argentina · Advanta Seeds Pty Limited, Australia · Pacific Seeds (Thai) Limited, Thailand · Pacific Seeds Holdings (Thai) Limited, Thailand · Pt. Advanta Seeds Indonesia · Advanta Ukraine LLC, Ukraine · Advanta (B.V.I) Limited, British Virgin Island (upto 02 May, 2016) |
|
|
|
|
Associate
Companies: |
· Polycoat Technologies 2010 Limited · 3SB Produtos Agrícolas S.A. · Sinagro Produtos Agropecuários S.A. · Chemisynth (Vapi) Limited · Universal Pestochem Industries Limited · Seara Comercial Agricola Ltda. · Serra Bonita Sementes S.A. · Bioplanta Nutricao Vegetal, Industria e Comercio S.A. · Weather Risk Management Services Private Limited (w.e.f 28th June, 2016) · Kerala Enviro Infrastructure Limited · Ingen Technologies Private Limited |
|
|
|
|
Joint Venture
Companies: |
· United Phosphorus (Bangladesh) Limited (upto 22nd September, 2016) · Hodogaya UPL Company Limited, Japan · Longreach Plant Breeders Managements pty Limited, Australia |
|
|
|
|
Enterprises over which
key management personnel and their relatives have significant influence: |
· Bharuch Enviro Infrastructure Limited · Bloom Packaging Private Limited · Bloom Seal Containers Private Limited · Daman Ganga Pulp and Papers Private Limited · Demuric Holdings Private Limited · Enviro Technology Limited · Gharpure Engineering and Construction Private Limited · Uniphos Envirotronic Private Limited · Jai Trust Pot Plants Sanguine Holdings Private Limited · Tatva Global Environment Private Limited (formerly Tatva Global Environment Limited) · Tatva Global Environment (Deonar) Limited · Ultima Search Uniphos International Limited · Uniphos Enterprises Limited · UPL Environmental Engineers Limited · UPL Investment Private Limited · Vikram Farm |
CAPITAL STRUCTURE
After 08.07.2017
Authorised Capital : INR 4770.000 million
Issued, Subscribed & Paid-up Capital : INR 1483.537
million
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1237500000 |
Equity Shares |
INR 2/- each |
INR 2480.000 Million |
|
229500000 |
Preference Shares |
INR 10/- each |
INR 2230.000 Million |
|
|
Total |
|
INR 4710.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
507017118 |
Equity Shares |
INR 2/- each |
INR 1010.000 Million |
|
81940125 |
Preference Shares |
INR 10/- each |
INR 820.000 Million |
|
|
Total |
|
INR 1830.000
Million |
Equity Share Capital
Terms/ rights
attached to equity shares
The Company has one class of equity shares having par value of INR 2 per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive the remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
During the year ended 31st March, 2017, the amount of per share dividend proposed as distributions to equity shareholders is INR 7 (31st March, 2016: INR 5)
Details of
shareholders holding more than 5% shares in the company
|
Name of the
shareholder |
As at 31 March 2017 |
|
|
Equity shares of
INR 2 each fully paid |
No. in Crores |
% holding in the class |
|
Nerka Chemicals Private Limited |
10 |
19.98% |
|
Uniphos Enterprises Limited |
3 |
5.03% |
As per records of the Company, including its register of shareholders/ members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownerships of shares.
Aggregate number of
equity shares issued as bonus, shares issued for consideration other than cash
and shares bought back during the period of five years immediately preceding
the reporting date:
|
Name of the
shareholder |
As at 31 March 2017 (INR In Million) |
|
Equity shares bought back by the Company |
30.000 |
There are 42361062 shares (31 March, 2016: 257120; 1 April, 2015: 307120) underlying equity shares of the Company in respect of GDR’s traded on Luxemburg Stock Exchange and against conversion of each GDR ten equity shares were issued.
During the year, 42103942 underlying equity shares of the Company
in respect of GDR’s listed on Singapore Stock Exchange were issued pursuant to
scheme of amalgamation of Advanta Limited with the Company
Preference Share
Capital
Terms/ rights attached to preference shares Each Compulsory Convertible Preference Share (CCPS) has a par value of INR 10 and is convertible at the option of the shareholders into Equity shares of the Company starting within 18 months from the date of allotment i.e. from August 08, 2016 on the basis of ten new equity shares of INR 2 for every four hundred and seventy one CCPS held. If the CCPS are not converted within 18 months from the date of allotment, then the CCPS shall be automatically converted into equity shares of the Company at the end of 18 months from the date of allotment. The CCPS carry a dividend of 5% per annum, payable annually, subject to deduction of taxes at source, if applicable. The CCPS shall be non-cumulative and non-participating in nature. The holder of CCPS shall have right to vote in accordance with Section 47 of the Companies Act, 2013.
Each Optionally convertible preference share (OCPS) has a
par value of INR 10 and is convertible at the option of the shareholders into
Equity shares of the Company starting within 18 months from the date of
allotment i.e. from August 08, 2016 on the basis of ten new equity shares of
INR 2 for every four hundred and seventy one OCPS held. If the OCPS are not
converted within 18 months from the date of allotment, then the OCPS shall be
automatically redeemed at par. The OCPS carry a dividend of 5% per annum,
payable annually, subject to deduction of taxes at source, if applicable. The
OCPS shall be non-cumulative and non-participating in nature. The holder of
OCPS shall have right to vote in accordance with Section 47 of the Companies
Act, 2013. The presentation of the liability and equity portions of these
shares is explained in the summary of significant accounting policy.
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 |
1830.000 |
857.200 |
857.200 |
|
(b) Reserves & Surplus |
75670.000 |
39300.100 |
34383.600 |
|
(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) |
77500.000 |
40157.300 |
35240.800 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
7560.000 |
7600.000 |
9100.000 |
|
(b) Deferred tax liabilities
(Net) |
1330.000 |
1461.800 |
1202.200 |
|
(c) Other long term
liabilities |
1460.000 |
77.500 |
58.500 |
|
(d) Trade payables |
0.000 |
1969.200 |
1849.400 |
|
Total
Non-current Liabilities (3) |
10350.000 |
11108.500 |
12210.100 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
400.000 |
6178.100 |
3165.900 |
|
(b) Trade payables |
21970.000 |
17692.200 |
17214.100 |
|
(c) Other current liabilities |
2590.000 |
4971.200 |
5520.500 |
|
(d) Short-term provisions |
660.000 |
3175.100 |
3041.700 |
|
Total
Current Liabilities (4) |
25620.000 |
32016.600 |
28942.200 |
|
|
|
|
|
|
TOTAL |
113470.000 |
83282.400 |
76393.100 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
17330.000 |
16128.700 |
12082.700 |
|
(ii) Intangible Assets |
33830.000 |
4692.500 |
4409.700 |
|
(iii) Capital work-in-progress |
2490.000 |
1904.100 |
2913.900 |
|
(iv) Intangible assets under
development |
230.000 |
185.700 |
789.300 |
|
(b) Non-current Investments |
5930.000 |
7180.900 |
8727.200 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
9410.000 |
13408.400 |
12176.100 |
|
(e) Other Non-current assets |
4230.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
73450.000 |
43500.300 |
41098.900 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
13550.000 |
12707.500 |
11739.700 |
|
(c) Trade receivables |
19570.000 |
18727.700 |
14225.200 |
|
(d) Cash and cash equivalents |
710.000 |
728.100 |
1247.000 |
|
(e) Short-term loans and
advances |
1280.000 |
6197.700 |
6925.700 |
|
(f) Other current assets |
4910.000 |
1421.100 |
1156.600 |
|
Total
Current Assets |
40020.000 |
39782.100 |
35294.200 |
|
|
|
|
|
|
TOTAL |
113470.000 |
83282.400 |
76393.100 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
69390.000 |
59825.300 |
53349.900 |
|
|
Other Income |
3250.000 |
4587.800 |
2603.000 |
|
|
TOTAL
|
72640.000 |
64413.100 |
55952.900 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Raw Materials Consumed |
30290.000 |
28337.500 |
24387.600 |
|
|
Purchases of Traded Goods |
7010.000 |
2800.600 |
5933.900 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(1080.000) |
(662.800) |
(2073.700) |
|
|
Employees benefits expense |
4450.000 |
3904.100 |
3178.000 |
|
|
Other expenses |
19290.000 |
17205.600 |
16499.500 |
|
|
Exceptional Item |
460.000 |
0.000 |
0.000 |
|
|
TOTAL
|
60420.000 |
51585.000 |
47925.300 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
12220.000 |
12828.100 |
8027.600 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1490.000 |
1926.100 |
352.700 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
10730.000 |
10902.000 |
7674.900 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
6550.000 |
2439.400 |
1867.500 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
4180.000 |
8462.600 |
5807.400 |
|
|
|
|
|
|
|
Less |
TAX |
1730.000 |
1405.500 |
1174.100 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER
TAX |
2450.000 |
7057.100 |
4633.300 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
39721.200 |
36570.700 |
27977.400 |
|
|
TOTAL
EARNINGS |
39721.200 |
36570.700 |
27977.400 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
|
|
|
|
Basic
|
4.84 |
16.47 |
10.81 |
|
|
Diluted |
4.81 |
16.47 |
10.81 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
3030.000 |
1500.000 |
1500.000 |
|
Cash generated from operations |
NA |
1283.600 |
6162.500 |
|
Net cash flow from operating activity |
10210.000 |
(470.600) |
4971.800 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
102.94 |
114.26 |
97.32 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
3.55 |
3.19 |
3.75 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
214.99 |
207.39 |
207.22 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.90 |
1.01 |
0.68 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.23 |
0.56 |
0.40 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.32 |
0.49 |
0.52 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.14 |
0.38 |
0.39 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.33 |
0.80 |
0.82 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.70 |
0.57 |
0.57 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
8.20 |
6.66 |
22.76 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT
/ Sales) * 100) |
% |
3.53 |
11.80 |
8.68 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
2.16 |
8.47 |
6.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
3.16 |
17.57 |
13.15 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.56 |
1.24 |
1.22 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.03 |
0.85 |
0.81 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.68 |
0.48 |
0.46 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
6.01 |
17.82 |
16.06 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.56 |
1.24 |
1.22 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 2.00/- |
|
Market Value |
INR 768.65/- |
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 |
857.200 |
857.200 |
1830.000 |
|
Reserves & Surplus |
34383.600 |
39300.100 |
75670.000 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
35240.800 |
40157.300 |
77500.000 |
|
|
|
|
|
|
long-term borrowings |
9100.000 |
7600.000 |
7560.000 |
|
Short term borrowings |
3165.900 |
6178.100 |
400.000 |
|
Current maturities of
long-term debts |
1500.000 |
1500.000 |
3030.000 |
|
Total
borrowings |
13765.900 |
15278.100 |
10990.000 |
|
Debt/Equity
ratio |
0.391 |
0.380 |
0.142 |
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 |
53349.900 |
59825.300 |
69390.000 |
|
|
|
12.138 |
15.988 |
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 |
53349.900 |
59825.300 |
69390.000 |
|
Profit |
4633.300 |
7057.100 |
2450.000 |
|
|
8.68% |
11.80% |
3.53% |
BALANCE
SHEET (CONSOLIDATED)
|
SOURCES
OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
1830.000 |
857.200 |
|
(b) Reserves & Surplus |
|
72140.000 |
67050.200 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
(3) Minority Interest |
|
-- |
423.000 |
|
(4) Non-controlling Interest |
|
330.000 |
-- |
|
Total
Shareholders’ Funds (1) + (2) |
|
74300.000 |
68330.400 |
|
|
|
|
|
|
(5) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
53500.000 |
21863.500 |
|
(b) Deferred tax liabilities
(Net) |
|
1690.000 |
2083.800 |
|
(c) Other long term
liabilities |
|
3780.000 |
4695.200 |
|
(d) long-term provisions |
|
160.000 |
396.400 |
|
(e) Trade Payables |
|
100.000 |
77.500 |
|
Total
Non-current Liabilities (3) |
|
59230.000 |
29116.400 |
|
|
|
|
|
|
(6) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
7080.000 |
16739.100 |
|
(b) Trade payables |
|
48750.000 |
38334.400 |
|
(c) Other current liabilities |
|
13520.000 |
13797.600 |
|
(d) Short-term provisions |
|
930.000 |
3797.400 |
|
Total
Current Liabilities (4) |
|
70280.000 |
72668.500 |
|
|
|
|
|
|
TOTAL |
|
203810.000 |
170115.300 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
24830.000 |
22158.800 |
|
(ii) Intangible Assets |
|
11690.000 |
9704.900 |
|
(iii) Capital work-in-progress |
|
6330.000 |
3044.500 |
|
(iv) Intangible assets under
development |
|
1590.000 |
1716.900 |
|
(b) Non-current Investments |
|
3780.000 |
10663.900 |
|
(c) Deferred tax assets (net) |
|
6700.000 |
2135.800 |
|
(d) Long-term Loan and Advances |
|
2250.000 |
5361.500 |
|
(e) Other Non-current assets |
|
5470.000 |
0.000 |
|
(f) Goodwill on consolidated |
|
4190.000 |
14627.400 |
|
(g) Trade receivables |
|
0.000 |
9.500 |
|
Total
Non-Current Assets |
|
66830.000 |
69423.200 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
41560.000 |
32262.500 |
|
(c) Trade receivables |
|
56560.000 |
48101.700 |
|
(d) Cash and cash equivalents |
|
28950.000 |
10678.500 |
|
(e) Short-term loans and advances |
|
1190.000 |
8397.500 |
|
(f) Other current assets |
|
8320.000 |
1251.900 |
|
(g) Assets classified as held for sale |
|
400.000 |
0.000 |
|
Total
Current Assets |
|
136980.000 |
100692.100 |
|
|
|
|
|
|
TOTAL |
|
203810.000 |
170115.300 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
163120.000 |
133015.100 |
|
|
Other Income |
|
4440.000 |
1117.300 |
|
|
TOTAL
|
|
167560.000 |
134132.400 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of material and components
consumed |
|
78160.000 |
64112.300 |
|
|
Employees benefits expense |
|
16270.000 |
12241.000 |
|
|
Other expenses |
|
38840.000 |
29499.100 |
|
|
Prior period adjustments |
|
0.000 |
142.300 |
|
|
Share of loss of an associate
and joint venture |
|
190.000 |
0.000 |
|
|
Exceptional items |
|
810.000 |
638.900 |
|
|
TOTAL
|
|
134270.000 |
106633.600 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
33290.000 |
27498.800 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
7350.000 |
6222.900 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
25940.000 |
21275.900 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
|
6720.000 |
5016.500 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
19220.000 |
16259.400 |
|
|
|
|
|
|
|
Less |
TAX |
|
1890.000 |
2829.800 |
|
|
|
|
|
|
|
|
Profit/(Loss) from associates |
|
0.000 |
(231.600) |
|
|
Exceptional items-associate |
|
0.000 |
(81.900) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
17330.000 |
13116.100 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
|
|
|
|
Basic and diluted earning
per share after exceptional items |
|
34.06 |
30.30 |
|
|
Basic and diluted
earning per share before exceptional Items |
|
33.91 |
31.98 |
LITIGATION DETAILS
|
LITIGATION DETAILS |
||||||
|
Bench:- Bombay |
||||||
|
Presentation
Date:- 04/08/2016 |
||||||
|
Stamp No. : |
CAAST/21661/2016 |
Filing Date:- |
04/08/2016 |
Reg.
No.:- |
CAA/1009/2016 |
|
|
Reg.
Date:- |
22/08/2016 |
|
|
|
|
|
|
Main Matter |
||||||
|
Stamp
No.: |
AOST/4904/2016 |
|
|
|
|
|
|
Petitioner:- |
J.G. SHAH FINANCIAL CONSULTANTS PIVATE LIMITED |
Respondent:- |
UNITED PHOSPHOROS LIMITED - |
|||
|
Petn.Adv:- |
MESSERS PUROHIT AND COAMPNY (I6356) |
|
|
|||
|
District:- |
MUMBAI |
|||||
|
Bench:- |
SINGLE |
Category:- |
CONDONATION OF DELAY |
|||
|
Status:- |
Pre-Admission |
Stage:- |
FOR ORDERS [CIVIL SIDE MATTERS] |
|||
|
Next
Date:- |
09/02/2018 |
Stage:- |
|
|||
|
Coram:- |
HON’BLE MRS. JUSTICE MRIDULA BHATKAR |
|
||||
|
Act. : |
C.P.C.- (Interlocutory Order) |
|
|
|||
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners / Directors |
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 |
Litigations that the firm/promoter
involved in |
Yes |
|
32 |
Market information |
-- |
|
33 |
Payments terms |
No |
|
34 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION
The company is a public company domiciled in India and is incorporated under the provisions of the Companies Act applicable in India. Its shares are listed on two recognised stock exchanges in India.
The registered office of the company is located at 3-11, G.I.D.C., Vapi, District Valsad, Gujarat. The Company is principally engaged in the business of agrochemicals, industrial chemicals, chemical intermediates, speciality chemicals and production and sale of field crops and vegetable seeds.
The financial statements were authorised for issue in
accordance with a resolution of the directors on April 28, 2017.
OPERATIONAL
PERFORMANCE
The Company has delivered another year of good results. Some of the financial highlights of the Company’s global performance are as under:
a) Revenue from operations increased by 16% to INR 166800.000 Million.
b) EBIDTA improved by 23% to INR 32230.000 Million
c) Profit before taxes have gone up by 52% to INR 20220.000 Million.
d) Profit after taxes have gone up by 57% to INR 18330.000 Million.
Region wise performance highlights are as under. In India, the market for agrochemicals grew by about 9%. While cotton acreage reduced, mainly in the North, there was significant increase in pulses and oilseed planted area. In some parts of the country like Karnataka, Tamil Nadu, Andhra Pradesh and Maharashtra erratic rainfalls adversely affected the sales. Due to good rains elsewhere, agrochemical usage in both Kharif and Rabi seasons increased. The Company increased its strategic focus on vegetable and fruit crops, apart from traditional food crops. Due to all of this, some of its brands recorded highest ever sales. During the year, the Company introduced new bio-based and nutritional products. Company’s policy to engage with customers was implemented very successfully. The Company sprayed 2 lakh acres of farm land in various parts of the country. It has also enrolled 14 lakh farmers under its Adarsh Kisan Centre programme and this number is likely to increase significantly in coming years. All these initiatives made the Company achieve above industry average growth in India. During the year, demonetization of high value currency notes affected the collections for a brief period but now, the market has rebounded.
In Latin America, the market saw de-growth of 6%. However, the Company’s sales were significantly higher in all the key countries in this region. During the year, the Company launched six herbicides, one fungicide and one insecticide. The year also witnessed significant currency volatility. In Brazil disease pressure in soyabean was low, resulting in reduced consumption of fungicides.
North America market remained steady, with very marginal growth. The western parts which had witnessed three successive years of drought had excellent rainfalls and due to good rains across the region, it had a good harvest. The company launched two herbicides and one fungicide in this market. The aquatic business grew significantly with new launches. However, the income of farmers in this region did not go much higher and hence the spending on agri-inputs remained low. However the Company recorded good growth in the region.
European Market also remained steady, with very marginal growth. However as quotas for sugar beet ended, the area for its plantation went up, which helped the Company to increase its sales in this market. In Northern Europe, there was high disease pressure on potatoes. In southern Europe, dry weather prevailed which affected sale and consumption of fungicides on rice and vegetable crops. Overall the Company’s performance in Europe was much better.
In rest of the world also, the market recorded de-growth marginally. However, the Company, due to its strategic marketing moves, improved its sales. After several years of drought, Australia had very good rains. In some of the key markets, recovery in rice crops resulted in increase in sales of the Company’s products. The Company also expanded its non-selective herbicides share to key markets, including China. In Nigeria, the Company has established partnership to grow its business. In Africa the Company has created a regional base in Kenya to service its customer needs regionally.
Prices of some of the inputs had increased, but the Company had taken effective cost reduction measures to counter any adverse effects arising out of such price increases.
FUTURE OUTLOOK
For the year 2017, the monsoon in India is predicted to be normal. This shall improve farm and economic growth, and increase agricultural production in the country.
The Indian economic growth is on higher trajectory. The reforms undertaken by the Central Government, in this regard, are most laudable and should result into overall improved performance in all the sectors.
In this year’s Union Budget, the government has announced a number of proposals which will result into improvement in credit flow to farmers, increase in irrigation acreage crop insurance and giving boost for farm incomes. The government initiatives for irrigation will result in higher crop yields and water security. With these measures the income of farmers will increase, leaving them with higher disposable income and this in turn will benefit all agri-input companies.
The Company is also exploring new markets for its products. It is gaining a foothold in African market. Latin American market also looks very promising for the Company’s products.
Overall the Company expects the coming year to be very promising.
AMALGAMATION
The Honorable High Court of Gujarat vide its Order dated 23rd June 2016, sanctioned the Company’s scheme of Amalgamation with Advanta Limited. In pursuance of the scheme, all the business, assets and liabilities of Advanta Limited were transferred to the Company. New equity and preference shares were issued to the erstwhile shareholders of Advanta Limited.
MANAGEMENT DISCUSSION
AND ANALYSIS
GLOBAL ECONOMIC
OVERVIEW
The pace of global economic activity was mixed in 2016 as a number of crosswinds affected re-acceleration. Within advanced economies, comprising the US, Europe and Japan, the lingering legacies of the recent crisis, coupled with protracted monetary policy support and return to fiscal neutrality, underpinned a generally-accelerating output with falling unemployment. In countries outside the advanced economies, the sources of slower growth ranged from commodity price declines to overhangs from past rapid credit growth to political turmoil
Global growth is projected to slow to 3.1% in 2016 before recovering to 3.4% in 2017. The forecast was revised downwards by 0.1 percentage point for 2017 compared to the April 2016 projections. This reflected a more subdued outlook following the Brexit referendum and weaker-than-expected growth in the US.
Having said this, long-term prospects of emerging market economies improved on the back of a visible lowering of interest rates in advanced economies and firming of commodity prices. Asia in general and India in particular has demonstrated robust growth while sub-Saharan Africa has experienced a sharp slowdown
OUTLOOK
The global economy entered its sixth year of stagnation with growth estimates for 2017 continuing to trend the historical path. A projected stabilisation in energy and commodity prices could provide respite for resource-rich economies in 2017. However, the medium-term outlook continues to be bleak with growth declining in investments and labour supply. Businesses will need to prepare themselves adequately in order to address the challenges arising from geopolitical tensions, policy uncertainties, financial market volatility and rapid technological advancements.
INDIAN ECONOMY
OVERVIEW
India’s GDP grew at 7.1% in FY17 versus a revised 8% (7.9% as per previous estimate) in FY16. India’s GDP growth in the January-March quarter was lower than China’s 6.9% for this period. Demonetisation had a pronounced broad-based impact on the economy in the fourth quarter. Despite a sequential slowdown, agriculture and mining sectors held up with consumption being robust. Manufacturing, construction and major services were hit by the currency squeeze, pulling down real gross domestic product (GDP) growth in Q4FY17 to 6.1% from 7%
The lower-than-expected real GDP growth in Q4FY17 was also due to the firming up of commodity prices, which hardened WPI. The GVA growth in Q4FY17 was pegged at just 5.6%, as an unfavourable base also impacted the estimate (GVA grew a robust 8.7% in Q4FY16). The GVA expansion slipped sharply to 6.6% in FY17 from 7.9% in FY16.
Pertinently, although growth in real term slipped in FY17, nominal GDP expansion touched 11% in the year against 9.9% in FY16, owing to higher inflation, especially at the wholesale level. With good monsoon, the agricultural sector posted a huge jump in growth as it expanded by 4.9% during FY17, compared to a dismal 0.7% in the previous year
Outlook: The growth estimate is contingent on the prediction of normal monsoon in this year, along with expectation of a boost in consumption demand, increased private sector and government spending. The nationwide roll-out of the goods and services tax in the second quarter of FY18 is also expected to result in an increment of 0.25% to 0.5% to GDP growth. CARE Ratings expects the economy to grow 7.6-7.8% in FY18.
Outlook
The near-term growth outlook for India seems bright even as the growth forecast for 2017-18 was moderated by 40 bps due to the temporary negative consumption shock induced by demonetisation-induced payment disruptions. Subsequently, India’s gross value-added growth is likely to remain at 6.6% as economic activity will take more time to normalise. However, the implementation of the Goods and Services Tax is expected to boost interstate trade and economic growth in pulses in the coming years due to concerted efforts by scientists in the use of early-maturing varieties of pulses and increased minimum support prices.
UNSECURED LOAN
|
Particulars |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Redeemable Non-convertible Debentures |
7560.000 |
8500.000 |
|
Current maturities of Non- current Debentures |
520.000 |
0.000 |
|
Less : Non-convertible Debentures bought back by the Company
pending extinguishment |
(520.000) |
(900.000) |
|
Short-term
borrowings |
|
|
|
Cash credit, packing credit and working capital demand
loan accounts |
130.000 |
5690.200 |
|
Optionally Convertible preference shares |
240.000 |
0.000 |
|
Total |
7930.000 |
13290.200 |
INDEX
OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
B56987159 |
10392596 |
IDBI TRUSTEESHIP SERVICES LIMITED |
27/08/2012 |
- |
- |
3000000000.0 |
ASIAN BUILDING,
GROUND FLOOR, 17, R.KAMANI MARG,BALLARD ESTATE, MUMBAI-400001, MAHARASHTRA,
INDIA |
|
2 |
B24019390 |
10314745 |
IDBI TRUSTEESHIP SERVICES LIMITED |
07/09/2011 |
- |
- |
2500000000.0 |
ASIAN BUILDING, GROUND
FLOOR, 17, R.KAMANI MARG,BALLARD ESTATE, MUMBAI-400001, MAHARASHTRA, INDIA |
|
3 |
B03607926 |
10261587 |
IDBI TRUSTEESHIP SERVICES LIMITED |
24/12/2010 |
- |
- |
3000000000.0 |
ASIAN BUILDING, GROUND
FLOOR, 17, R.KAMANI MARG,BALLARD ESTATE, MUMBAI-400001, MAHARASHTRA, INDIA |
|
4 |
A88992797 |
10227852 |
IDBI TRUSTEESHIP SERVICES LIMITED |
21/06/2010 |
- |
- |
3000000000.0 |
ASIAN BUILDING, GROUND
FLOOR, 17, R.KAMANI MARG,BALLARD ESTATE, MUMBAI-400001, MAHARASHTRA, INDIA |
|
5 |
A85891174 |
10220148 |
IDBI TRUSTEESHIP SERVICES LIMITED |
09/04/2010 |
- |
- |
2500000000.0 |
ASIAN BUILDING, GROUND
FLOOR, 17, R.KAMANI MARG,BALLARD ESTATE, MUMBAI-400001, MAHARASHTRA, INDIA |
|
6 |
A73556698 |
10186793 |
IDBI TRUSTEESHIP SERVICES LIMITED |
09/11/2009 |
- |
- |
1350000000.0 |
ASIAN BUILDING, GROUND
FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI-400001, MAHARASHTRA, INDIA |
|
7 |
A57003386 |
10142689 |
DENA BANK |
31/12/2008 |
- |
- |
3700000000.0 |
CORPORATE BUSINESS BRANCHC-10, G-BLOCK, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI-400051, MAHARASHTRA, INDIA |
|
8 |
C80977564 |
90099990 |
DENA BANK |
16/02/2005 |
17/02/2016 |
- |
18000000000.0 |
CORPORATE BUSINESS BRANCH, BKC MUMBAI MAHARASHTRA 400051 INDIA |
|
9 |
Z00005143 |
80002425 |
RABO INDIA FINANCE PRIVATE LIMITED |
10/01/2005 |
- |
- |
497500000.0 |
FORBES BUILDING C R MARG FORT MUMBAI MAHARASHTRA 400001 INDIA |
|
10 |
Y10189552 |
90099860 |
UTI BANK LIMITED |
19/07/2004 |
- |
- |
2500000.0 |
UNIVERSAL INSURANCE BUILDINGSIR PM ROAD ; FORT BOMBAY MAHARASHTRA 400001 INDIA |
STATEMENT OF STANDALONE UNAUDITED FINANCIAL
RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31.12.2017
(INR In million)
|
PARTICULARS |
Standalone |
||
|
Quarter ended |
Nine Months ended |
||
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
Income from Operations |
|
|
|
|
Revenue from Operations |
19420.000 |
19710.000 |
57380.000 |
|
Other Income |
230.000 |
3800.000 |
4210.000 |
|
Total Income from
operations (net) |
19650.000 |
23510.000 |
61590.000 |
|
|
|
|
|
|
Expenses |
|
|
|
|
(a) Cost of Material Consumed |
9660.000 |
9270.000 |
27110.000 |
|
(b) Purchase of stock in trade |
820.000 |
210.000 |
2810.000 |
|
(c) Changes in inventories of finished goods, work in
progress and stock in trade |
380.000 |
1270.000 |
80.000 |
|
(d) Excise duty |
0.000 |
0.000 |
1110.000 |
|
(e) Employee benefit expenses |
1190.000 |
1250.000 |
3640.000 |
|
(f) Finance costs |
380.000 |
310.000 |
850.000 |
|
(g) Depreciation and amortization expenses |
1670.000 |
1650.000 |
4940.000 |
|
(h) Exchange rate difference on
receivables and payables (net) |
10.000 |
30.000 |
50.000 |
|
(i) Other Expenses |
4980.000 |
4330.000 |
14290.000 |
|
Total Expenses |
19090.000 |
18320.000 |
54880.000 |
|
Profit/ (Loss) from before Exceptional
items |
560.000 |
5190.000 |
6710.000 |
|
Exceptional
items |
0.000 |
0.000 |
0.000 |
|
Profit/ (Loss) before tax |
560.000 |
5190.000 |
6710.000 |
|
Tax Expenses |
|
|
|
|
Current Tax |
(280.000) |
640.000 |
460.000 |
|
Deferred Tax |
(610.000) |
200.000 |
(370.000) |
|
Net Profit/ (Loss) for the period |
1450.000 |
4350.000 |
6550.000 |
|
Other comprehensive income |
|
|
|
|
(i) Items that will not be reclassified to profit or loss |
(20.000) |
(30.000) |
(10.000) |
|
(ii) Income tax relating to items that will not be
reclassified to profit or loss |
0.000 |
10.000 |
0.000 |
|
Other comprehensive income, net of income tax |
(20.000) |
(20.000) |
(10.000) |
|
|
|
|
|
|
Total comprehensive income for the period |
1430.000 |
4330.000 |
6540.000 |
|
Paid- up
Equity Share Capital (share – INR 2) |
1020.000 |
1020.000 |
1020.000 |
|
Other Equity (as per balance sheet of the previous
accounting year) |
|
|
|
|
Earnings per
share (not annualized for quarter and half years) |
|
|
|
|
Basic |
2.85 |
8.57 |
12.89 |
|
Diluted |
2.85 |
8.56 |
12.86 |
Notes:
1. The above unaudited standalone financial results were reviewed by the audit committee and thereafter approved at the meeting of the Board of directors held on 25th January 2018.
2. These financial results have been prepared in accordance with the recognition
and measurement principles laid down in the Indian Accounting Standards (Ind
AS) 34 Interim Financial Reporting prescribed under Section 133 of the
Companies Act, 2013.
3. Finance Costs include settlement and mark to market (gains)/ losses on derivative
contracts related to borrowings and exchange differences arising on foreign
currency loans / advances. Such (gain)/loss is INR (60.000) million, INR
(140.000) million and INR (180.000) million for the quarters ending 31st
December 2017, 30th September 2017, and 31st December 2016 respectively; INR
(370.000) million and INR (400.000) million for nine months ended 31st December
2017 and 31st December 2016 respectively and INR (590.000) million for the year
ended March 31, 2017.
4. Amalgamation of erstwhile Advanta Limited ("Advanta") with the
Company -
The Hon'ble High Court of Gujarat vide its order dated 23rd June, 2016 had
sanctioned the Scheme of Amalgamation of Advanta with the Company with an
appointed date of 01st April, 2015. In accordance with the provisions of the
scheme –
a. The amalgamation has been accounted in the previous year under the “Purchase
Method” as per the then prevailing Accounting Standard 14 - Accounting for
Amalgamations, as referred to in the Scheme of Amalgamation approved by the
High Court, which is different from Ind AS 103 'Business Combinations'.
b. The excess of the fair value of equity shares and preference shares issued
over the book value of assets and liabilities acquired have been recorded as
goodwill arising on amalgamation and is being amortised over the period of 10
years from the appointed date.
c. If the Company had accounted for amalgamation as per Ind AS 103, profit for
the quarters ended 31st December 2017, 30th September 2017, and 31st December
2016 respectively would have been higher by INR 920.000 million each; for nine
months ended 31st December 2017 and 31st December 2016 respectively by INR
2780.000 million each and for the year ended 31st March, 2017 by INR 3700.000
million.
d. Upto 30th September 2016, the Company considered goodwill arising on
amalgamation as referred in para b above as deductible expense for the purpose
of computation of provision of tax. During the quarter ended 31st December
2016, the Company had reviewed and recomputed provision for taxation for the
nine months ended 31st December 2016 by considering amortisation of goodwill as
non- tax deductible expense. Consequently, the provision for tax of INR 690.000
crores had been recorded during the quarter ended 31st December 2016.
5. The Government of India introduced the Goods and Services Tax (GST) with
effect from 1st July 2017, consequently revenue from operations for the quarter
ended 31st December 2017 and 30th September 2017 is net of GST. However revenue
for all other periods presented (including the quarter ended 30th June 2017
included in the figures presented for the nine months ended 31st December 2017)
is inclusive of excise duty. The Net Revenue from Operations (Net of GST/
Excise Duty) as applicable are stated below-
(INR In Million)
|
PARTICULARS |
Standalone |
||
|
Quarter ended |
Nine Months ended |
||
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
Income from Operations |
|
|
|
|
Revenue from Operations |
19420.000 |
19710.000 |
57380.000 |
|
Other Income |
0.000 |
0.000 |
1110.000 |
|
Total Income from
operations (net) |
19420.000 |
19710.000 |
58490.000 |
6. During the quarter and nine months ended 31st December 2017, the Company has allotted 319165 and 1260457 equity shares respectively, on conversion of convertible preference shares.
7. Exceptional items for nine months ended 31st December, 2017 pertains to
amount paid as per final order of The Competition Commission of India (CCI).
8. Pursuant to the completion of assessments, during the quarter, the Company
has written back excess provision of tax and recognised minimum alternate tax
credit entitlement relating to earlier periods aggregating to INR 980.000 Million.
9. The shareholders approved final dividend @350% on equity share of INR 2 each
of the Company (i.e. INR 7/- per equity share) at the Annual General Meeting
held on 8th July 2017 and the same was paid on 12th July, 2017.
10. During the previous quarter and nine month ended 31st December 2017, the
Company has allotted 34980 and 79172 equity shares respectively, to employees
under Employee Stock Option Plan of the Company.
11. Previous period figures have been re-grouped/ re-classified wherever
necessary, to confirm to this period's classification.
STANDALONE SEGMENT-WISE REVENUE, RESULTS, ASSETS AND LIABILITIES FOR THE QUARTER AND NINE MONTHS ENDED
31.12.2017
(INR in Million)
|
PARTICULARS |
Standalone |
||
|
Quarter ended |
Quarter ended |
Quarter ended |
|
|
|
31.12.2017 |
31.12.2017 |
31.12.2017 |
|
|
|
|
|
|
Segment Revenues |
|
|
|
|
Agro Activities |
17630.000 |
18220.000 |
52790.000 |
|
Non Agro Activities |
2070.000 |
2010.000 |
5990.000 |
|
Unallocated |
20.000 |
20.000 |
60.000 |
|
Total |
19720.000 |
20250.000 |
58840.000 |
|
Less: Inter - Segment Revenue |
300.000 |
540.000 |
1460.000 |
|
Revenue from
operations |
19420.000 |
19710.000 |
57380.000 |
|
|
|
|
|
|
Segment Results |
|
|
|
|
Agro Activities |
1830.000 |
2490.000 |
6320.000 |
|
Non Agro Activities |
150.000 |
200.000 |
530.000 |
|
Total |
1980.000 |
2690.000 |
6850.000 |
|
Less: |
|
|
|
|
(i) Finance Costs |
380.000 |
310.000 |
850.000 |
|
(ii) Unallocable Expenditure / Income (net) |
1040.000 |
(2810.000) |
(710.000) |
|
(iii) Exceptional items |
0.000 |
0.000 |
70.000 |
|
Total Profit before
Tax |
560.000 |
5190.000 |
6640.000 |
|
|
|
|
|
|
Segment Assets |
|
|
|
|
Agro Activities |
100390.000 |
91820.000 |
100390.000 |
|
Non Agro Activities |
7930.000 |
7080.000 |
7930.000 |
|
Unallocated |
21120.000 |
19830.000 |
21120.000 |
|
Total Segment
Assets |
129440.000 |
118730.000 |
129440.000 |
|
|
|
|
|
|
Segment Liabilities |
|
|
|
|
Agro Activities |
29230.000 |
25990.00 |
29230.000 |
|
Non Agro Activities |
2110.000 |
1630.000 |
2110.000 |
|
Unallocated |
17360.000 |
11880.000 |
17360.000 |
|
Total Segment
Liabilities |
48700.000 |
39500.000 |
48700.000 |
|
|
|
|
|
|
Net Capital
Employed |
80740.000 |
79230.000 |
80740.000 |
FIXED ASSETS:
- Land- Freehold
- Land-Leasehold
- Leasehold Improvement
- Building
- Plant and Machinery
- Laboratory Equipment’s
- Office Equipment’s
- Furniture, Fixture and Equipment’s
- Vehicles
- Software
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 63.50 |
|
|
1 |
INR 90.92 |
|
Euro |
1 |
INR 79.07 |
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared by
: |
JYTK |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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.