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MIRA
INFORM REPORT
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Report No. : |
498997 |
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Report Date : |
24.03.2018 |
IDENTIFICATION DETAILS
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Name : |
PUNJAB CHEMICALS AND CROP PROTECTION LIMITED (w.e.f. 2004) |
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Formerly known
as: |
PUNJAB CHEMICALS AND PHARMACEUTICALS LIMITED (w.e.f. 1984)
PUNJAB UNITED PESTICIDES AND CHEMICALS LIMITED |
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Registered
Office: |
Milestone-18, Ambala Kalka Road, P.O. Bhankharpur, District SAS Nagar, Mohali – 140201, Punjab |
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Tel. No.: |
91-1762-280086 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
19.11.1975 |
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Com. Reg. No.: |
16-047063 [New] 53-003603 [Old] |
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Capital
Investment / Paid-up Capital : |
INR 122.600
Million |
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CIN No.: [Company Identification
No.] |
L24231PB1975PLC047063 [New] L24231CH1975PLC003603 [Old] |
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IEC No.: |
2288000988 |
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GST NO.: |
04AAACP9904H1ZI |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACP9904H |
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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
: |
Manufacturer
of Agro Chemicals, Speciality Chemicals and Bulk Drugs and its Intermediates.
(Registered Activity and also Confirmed by Management) |
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No. of Employees
: |
879 (Approximately) As per latest
annual report there is an increase in
the number of employees over past years and current number employees are 879 |
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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 1618570 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 1975 and it is having satisfactory track records. As per the financial year 2017, the company has increased its revenue from operation as compared to previous year and has maintained minimal profit margin of 0.52%. Rating takes into consideration sound financial profile of the company marked by adequate networth base along with average debt balance sheet and good liquidity position. Rating strength derives from its established track records and the extensive experience in the chemical industry. Share price are quoted high on stock exchange (Share Price of INR 332 with face value of INR 10). However, these rating strengths are partially offset by the sharply declined in profitability during the year and company's exposure to intense competition in the domestic industry. Trade relations are reported as fair. Payments are reported to be slow but correct. In view of aforesaid, the company can be considered 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 (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
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 24.03.2018.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE [TEL.
NO.:91-1762-280086/ 91-22-26747900]
[91-172-5008300/ 301/ 20-27425647] Continuously ringing
LOCATIONS
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Registered Office/ Factory 1: |
Milestone-18, Ambala Kalka Road, P.O. Bhankharpur, District SAS Nagar, Mohali – 140201, Punjab, India |
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Tel. No.: |
91-1762-280086/ 280094/ 522253 |
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Fax No.: |
91-1762-280070 |
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E-Mail : |
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Website : |
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Corporate Office : |
Oberoi Chambers II, 5th Floor, 645/646, New Link Road, Andheri (West), Mumbai 400053, Maharashtra, India |
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Tel. No.: |
91-22-26747900 (30 Lines) |
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Fax No.: |
91-22-26736193/ 78 |
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E-Mail : |
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Factory 2 : |
Pharma Division -
Unit Alpha Drug Villages: Kolimajra and Samalheri, P.O.: Lalru, District SAS Nagar Mohali, Punjab, India |
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Tel. No.: |
91-1762-275519/ 506996 |
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Fax No.: |
91-1762-275308/ 506999 |
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E-Mail : |
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Factory 3 : |
Industrial Chemical
Division Site No. I & II, H.A. Ltd., Compound, Pimpri, Pune-400 018, Maharashtra, India |
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Tel. No.: |
91-20-27425647-9 |
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Fax No.: |
91-20-27425652 |
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Other Factories : |
Located at: · Agro Chemicals Division - PCCPL, Derabassi · Vadodara · Tarapur · Chiplun |
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Marketing Offices : |
Located at: · New Delhi · Ahmedabad · Vadodara · Hyderabad · Chennai |
DIRECTORS
AS ON 31.03.2017
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Name : |
Mr. Mukesh Dahyabhai Patel |
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Designation : |
Chairman |
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Address: |
93, Urmi Society, Productivity Road, Baroda - 390007, Gujarat, India |
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Date of Appointment : |
19.02.1985 |
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DIN No.: |
00009605 |
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Name : |
Mr. Shalil Shashikumar Shroff |
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Designation : |
Managing Director |
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Address: |
5b / 5c, Lohtse Chs, Ruia Park, Juhu Mumbai - 400049, Maharashtra, India |
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Date of Appointment : |
15.01.1998 |
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DIN No.: |
00015621 |
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Name : |
Mr. Shivshankar Shripal Tiwari |
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Designation : |
Director |
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Address: |
Matruchhaya, Plot No. 190, Sector-25, Pradhikaran, Nigdi, Pune - 411044, Maharashtra, India |
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Date of Birth/Age : |
30.08.1953 |
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Qualification : |
M.Sc., Post graduate Diploma-Business Management |
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Expertise in specific functional area : |
He is experienced in managing the chemical plants, production, manpower and domestic commercial market of chemicals. |
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Date of Appointment : |
06.04.2009 |
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DIN No.: |
00019058 |
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Name : |
Mr. Avtar Singh |
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Designation : |
Director and Operations and Business Development |
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Address: |
House No 5411, Sector 38 (W), Chandigarh - 160014, Punjab, India |
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Date of Birth/Age : |
04.10.1958 |
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Qualification : |
B. Sc. |
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Expertise in specific functional area : |
He is a Whole Time Director and incharge of Agro Chemicals Division, Derabassi and Pharma Division, Lalru in District Mohali, Punjab. His expertise is in Research and development, production and marketing of chemicals. He is also involved in setting up and maintenance of plants in these sites. |
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Date of Appointment : |
14.11.1996 |
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DIN No.: |
00063569 |
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Name : |
Mr. Vijay Dilbagh Rai |
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Designation : |
Director |
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Address: |
R-9/B, F,9th W,P,A, And B, Oyster Apartments, Pilot Bunder Co-Operative Housing Society, Major V. Nathan Marg, Colaba Mumbai - 400005, Maharashtra, India |
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Date of Appointment : |
28.02.1985 |
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DIN No.: |
00075837 |
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Name : |
Mrs. Sindhu Seth |
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Designation : |
Director |
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Address: |
35 A, Sterling Apartments, 18th Floor, 38 Gopalrao Deshmukh Marg, Mumbai - 400026, Maharashtra, India |
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Date of Appointment : |
29.05.2014 |
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DIN No.: |
00109298 |
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Name : |
Mr. Surjit Singh Chopra |
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Designation : |
Director |
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Address: |
B-101, Versoville Chs, N Dutta Marg, 4 Bunglow, Versova, Mumbai 400053, Maharashtra, India |
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Date of Appointment : |
18.08.2004 |
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DIN No.: |
00146490 |
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Name : |
Sheo Prasad Singh |
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Designation : |
Director |
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Address: |
Flat No. 1101, Wing-A, The Residency, Near Vijay garden, Off- G.B. Road, Thane ( west) Mumbai - 400607, Maharashtra, India |
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Date of Birth/Age : |
28.04.1952 |
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Qualification : |
M Sc., Caiib, PGDFRM, PGDFA |
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Expertise in specific functional area : |
Commercial Banking including, Treasury, Direct/Indirect Taxation, management of Superannuation Funds |
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Date of Appointment : |
28.05.2015 |
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DIN No.: |
06493455 |
KEY EXECUTIVES
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Name : |
Mr. Vipul Harsukhlal Joshi |
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Designation : |
Chief Finance Officer (KMP) |
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Address: |
703, Shanti Apartment, 7th Floor, Opposite Kandivli Telephone Exchange, S V Road, Kandivli ( West), Mumbai - 400067, Maharashtra, India |
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Date of Appointment : |
29.05.2014 |
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PAN No.: |
AAIPJ4428P |
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Name : |
Mr. Punit Kumar Abrol |
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Designation : |
Company Secretary and Senior V.P. (Finance) |
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Address: |
House No. 105 Sector 12-A Panchkula - 134112, Haryana, India |
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Date of Appointment : |
01.05.1985 |
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PAN No.: |
ACGPA6734K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.12.2017
|
Category of Shareholders |
No. of Shares |
Percentage of Holding |
|
Promoter & Promoter Group |
5493867 |
44.80 |
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Public |
6768318 |
55.20 |
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Total |
12262185 |
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 (A+B+C2) |
|
|
A1) Indian |
0.00 |
||
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Individuals/Hindu
undivided Family |
891572 |
7.27 |
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Rupam Shalil
Shroff/Shalil Shashikumar Shroff |
183291 |
1.49 |
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Hemal Raju
Shete/RajuRadhaKrishan Shete |
63750 |
0.52 |
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Malvika Shalil
Shroff |
35340 |
0.29 |
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Ishika Shalil
Shroff |
27894 |
0.23 |
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Salil ShashiKumar
Shroff |
77652 |
0.63 |
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Shaila Shashi
Kumar shroff/Hemal Raju Shete |
273064 |
2.23 |
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Shalil Shashi
Kumar Shroff |
230581 |
1.88 |
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Any Other
(specify) |
4602295 |
37.53 |
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|
Excel Industries
Limited |
584977 |
4.77 |
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|
Hemsil Trading and
Manufacturing Pvt. Limited |
4017318 |
32.76 |
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Sub Total A1 |
5493867 |
44.80 |
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A2) Foreign |
0.00 |
||
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A=A1+A2 |
5493867 |
44.80 |
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 |
0 |
0.00 |
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Mutual Funds/ |
6432 |
0.05 |
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Foreign Portfolio
Investors |
333597 |
2.72 |
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|
AREIAL HOLDINGS 1 |
304676 |
2.48 |
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Financial
Institutions/ Banks |
19590 |
0.16 |
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Sub Total B1 |
359619 |
2.93 |
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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 |
122027 |
1.00 |
|
|
Punjab State
Indusrial Development Corporati0n |
122027 |
1.00 |
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Sub Total B2 |
122027 |
1.00 |
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B3)
Non-Institutions |
0 |
0.00 |
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Individual share
capital upto INR 0.200 Million |
2178019 |
17.76 |
|
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Individual share
capital in excess of INR 0.200 Million |
428194 |
3.49 |
|
|
Jayesh Pratap
Chand Shah |
162574 |
1.33 |
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NBFCs registered
with RBI |
259 |
0.00 |
|
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Any Other
(specify) |
3680200 |
30.01 |
|
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Bodies Corporate |
3608094 |
29.42 |
|
|
GOWAL CONSULTING
PVT. Limited |
3000000 |
24.47 |
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NRI |
16088 |
0.13 |
|
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Director or
Director's Relatives |
52318 |
0.43 |
|
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Trusts |
3700 |
0.03 |
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|
Sub Total B3 |
6286672 |
51.27 |
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|
B=B1+B2+B3 |
6768318 |
55.20 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of Agro Chemicals, Speciality Chemicals and Bulk Drugs and its Intermediates.
(Registered Activity and also Confirmed by Management) |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
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 : |
879 (Approximately) As per latest
annual report there is an increase in
the number of employees over past years and current number employees are 879 |
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Bankers : |
·
Central Bank of India ·
Allahabad Bank ·
Union Bank of India ·
Bank of Baroda ·
Export-Import Bank of India |
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Facilities : |
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Auditors : |
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Name : |
S R B C and Company LLP Chartered Accountants |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Joint venture
company: |
Stellar Marine Paints Limited (upto November 11 2016) |
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Subsidiaries : |
·
STS Chemicals (UK) Limited ·
S D Agchem (Europe) NV ·
Sintesis Quimica. S.A.I.C., Argentina |
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|
Enterprises over which key management
personnel & their relatives: |
·
Hemsil Trading & Manufacturing Private
Limited ·
L & L Products Shroff Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19800000 |
Equity Shares |
INR 10/- each |
INR 198.000 Million |
|
20000 |
9.8% Redeemable Cumulative Preference Shares |
INR 100/- each |
INR 2.000 Million |
|
|
|
|
|
|
|
Total |
|
INR 200.000 Million |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12277218 |
Equity Shares |
INR 10/- each |
INR 122.800 Million |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12262185 |
Equity Shares |
INR 10/- each |
INR 122.600
Million |
|
|
|
|
|
Reconciliation of the
shares outstanding at the beginning and at the end of the reporting year
|
Equity shares |
31.03.2017 |
|
|
|
Numbers |
INR in Million |
|
At the beginning and at the end of the year |
12262185 |
122.600 |
Terms/rights
attached to equity shares
The company has only one class of equity shares having a par value of INR 10 per share. Each holder of equity shares is entitled to one vote per share.
In the event of liquidation of the company, the holders of the equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
Aggregate number of bonus shares issued,
shares issued for consideration other than cash and shares bought back during
the period of five years immediately preceding the reporting date
|
Particulars |
31.03.2017 In Numbers |
|
Equity shares allotted as fully paid-up pursuant to a scheme of amalgamation for consideration other than cash in 2011-12 |
69293 |
Details of shareholders holding more than
5% shares in the company
|
Equity shares |
31.03.2017 |
|
|
|
Numbers |
% holding |
|
Equity shares of INR 10 each fully paid-up Hem-Sil Trading and Manufacturing Private Limited |
|
|
|
Gowal Consulting Services Private Limited |
4017318 |
32.76% |
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 ownership of shares.
LISTING DETAILS:
|
BSE
: 506618 NSE
: PUNJABCHEM ISIN : INE277B01014 Industry: Pesticides and
Agrochemicals |
|
|
|
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|
Stock Exchange Place : |
· BSE Limited (BSE) · National Stock Exchange of India Limited (NSE) |
|
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Listed Date : |
08.03.2007 |
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 |
122.600 |
122.600 |
122.600 |
|
(b) Reserves & Surplus |
443.900 |
424.800 |
69.100 |
|
(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) |
566.500 |
547.400 |
191.700 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
616.500 |
985.400 |
1149.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
110.800 |
105.600 |
98.500 |
|
Total
Non-current Liabilities (3) |
727.300 |
1091.000 |
1247.500 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
498.300 |
496.300 |
947.200 |
|
(b)
Trade payables |
784.000 |
590.200 |
602.000 |
|
(c)
Other current liabilities |
790.900 |
768.400 |
1138.700 |
|
(d)
Short-term provisions |
118.300 |
98.400 |
76.700 |
|
Total
Current Liabilities (4) |
2191.500 |
1953.300 |
2764.600 |
|
|
|
|
|
|
TOTAL |
3485.300 |
3591.700 |
4203.800 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1619.200 |
1640.700 |
2074.500 |
|
(ii)
Intangible Assets |
70.900 |
113.900 |
131.600 |
|
(iii)
Capital work-in-progress |
49.600 |
23.200 |
56.000 |
|
(iv) Intangible assets under development |
12.600 |
14.600 |
11.500 |
|
(b) Non-current
Investments |
62.300 |
34.800 |
34.800 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
265.000 |
322.100 |
302.600 |
|
(e)
Other Non-current assets |
17.500 |
17.600 |
45.800 |
|
Total
Non-Current Assets |
2097.100 |
2166.900 |
2656.800 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.300 |
0.300 |
0.300 |
|
(b)
Inventories |
549.600 |
450.700 |
571.900 |
|
(c)
Trade receivables |
478.700 |
555.500 |
586.600 |
|
(d)
Cash and cash equivalents |
22.900 |
18.700 |
64.700 |
|
(e)
Short-term loans and advances |
265.300 |
207.100 |
250.800 |
|
(f)
Other current assets |
71.400 |
192.500 |
72.700 |
|
Total
Current Assets |
1388.200 |
1424.800 |
1547.000 |
|
|
|
|
|
|
TOTAL |
3485.300 |
3591.700 |
4203.800 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations (Net) |
4111.100 |
3572.300 |
4097.100 |
|
|
|
Other Income |
254.400 |
125.200 |
105.700 |
|
|
|
TOTAL (A) |
4365.500 |
3697.500 |
4202.800 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
2383.700 |
1995.000 |
2324.900 |
|
|
|
Purchases of traded goods |
24.200 |
4.900 |
33.600 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(38.500) |
16.800 |
32.500 |
|
|
|
Employees benefits expense |
483.600 |
440.300 |
438.400 |
|
|
|
Exceptional (Expenses) /
Incomes |
0.000 |
(344.600) |
21.700 |
|
|
|
Operating and Other expenses |
1167.400 |
858.900 |
823.300 |
|
|
|
TOTAL (B) |
4020.400 |
2971.300 |
3674.400 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
345.100 |
726.200 |
528.400 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
180.700 |
214.700 |
317.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
164.400 |
511.500 |
211.400 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
143.100 |
154.400 |
175.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
21.300 |
357.100 |
35.600 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.900 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
21.300 |
356.200 |
35.600 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods (FOB basis) |
2394.900 |
2290.700 |
2880.700 |
|
|
|
Processing charges received |
0.000 |
0.000 |
5.700 |
|
|
|
Technical support and development fees |
0.000 |
0.000 |
2.800 |
|
|
|
Other Earnings |
0.100 |
0.200 |
0.200 |
|
|
TOTAL EARNINGS |
2395.000 |
2290.900 |
2889.400 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
648.100 |
685.600 |
645.200 |
|
|
|
Components and spare parts |
0.100 |
0.100 |
0.300 |
|
|
|
Traded goods |
0.000 |
0.000 |
11.500 |
|
|
|
Capital Goods |
0.000 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
648.200 |
685.700 |
657.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (INR) |
1.74 |
29.05 |
2.91 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term Borrowings |
364.100 |
215.100 |
726.200 |
|
|
|
|
|
|
Cash Generated from/(used) in Operations |
552.200 |
819.700 |
493.100 |
|
|
|
|
|
|
Net cash generated from/(used) in operating activities |
536.200 |
808.400 |
484.400 |
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2017 |
30.09.2017 |
31.12.2017 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
1085.400 |
1124.400 |
1242.300 |
|
Total Expenditure |
1020.300 |
1062.500 |
1177.400 |
|
PBIDT (Excl OI) |
65.100 |
61.900 |
64.900 |
|
Other Income |
37.100 |
22.700 |
19.800 |
|
Operating Profit |
102.200 |
84.600 |
84.700 |
|
Interest |
49.900 |
42.300 |
40.400 |
|
Exceptional Items |
32.600 |
0.000 |
0.000 |
|
PBDT |
84.900 |
42.300 |
44.300 |
|
Depreciation |
33.700 |
35.200 |
35.400 |
|
Profit Before Tax |
51.200 |
7.100 |
8.900 |
|
Tax |
(4.400) |
4.400 |
(5.100) |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
55.600 |
2.700 |
14.000 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
55.600 |
2.700 |
14.000 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
42.50 |
56.76 |
52.26 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
8.59 |
6.43 |
6.98 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
118.84 |
107.72 |
93.17 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.63 |
1.61 |
0.92 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.20 |
0.41 |
0.23 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.91 |
0.88 |
1.10 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
2.61 |
3.10 |
14.72 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
3.87 |
3.57 |
14.42 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
3.09 |
3.27 |
11.86 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.91 |
3.38 |
1.67 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.52 |
9.97 |
0.87 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.61 |
9.92 |
0.85 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
3.76 |
65.07 |
18.57 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.63 |
0.73 |
0.56 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.38 |
0.50 |
0.35 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.16 |
0.15 |
0.05 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
12.06 |
13.84 |
23.02 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.63 |
0.73 |
0.56 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10/- |
|
|
|
|
Market Value |
INR 399.00/- |
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 |
122.600 |
122.600 |
122.600 |
|
Reserves & Surplus |
69.100 |
424.800 |
443.900 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
191.700 |
547.400 |
566.500 |
|
|
|
|
|
|
long-term borrowings |
1149.000 |
985.400 |
616.500 |
|
Short term borrowings |
947.200 |
496.300 |
498.300 |
|
Current Maturities of Long term
debt |
726.200 |
215.100 |
364.100 |
|
Total
borrowings |
2822.400 |
1696.800 |
1478.900 |
|
Debt/Equity
ratio |
14.723 |
3.100 |
2.611 |
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 |
4097.100 |
3572.300 |
4111.100 |
|
|
|
(12.809) |
15.083 |
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 |
4097.100 |
3572.300 |
4111.100 |
|
Profit |
35.600 |
356.200 |
21.300 |
|
|
0.87% |
9.97% |
0.52% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
122.600 |
122.600 |
|
(b) Reserves & Surplus |
|
295.200 |
489.800 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
417.800 |
612.400 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
687.100 |
1063.300 |
|
(b) Deferred tax liabilities (Net) |
|
195.500 |
270.900 |
|
(c)
Other long term liabilities |
|
178.700 |
214.700 |
|
(d)
long-term provisions |
|
110.800 |
105.600 |
|
Total
Non-current Liabilities (3) |
|
1172.100 |
1654.500 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
501.800 |
499.800 |
|
(b)
Trade payables |
|
904.400 |
559.000 |
|
(c)
Other current liabilities |
|
1101.700 |
1083.300 |
|
(d)
Short-term provisions |
|
187.600 |
165.400 |
|
Total
Current Liabilities (4) |
|
2695.500 |
2307.500 |
|
|
|
|
|
|
TOTAL |
|
4285.400 |
4574.400 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
2171.300 |
2233.000 |
|
(ii)
Intangible Assets |
|
70.900 |
113.900 |
|
(iii)
Capital work-in-progress |
|
49.800 |
23.200 |
|
(iv) Intangible assets under development |
|
12.600 |
14.600 |
|
(b) Non-current
Investments |
|
2.000 |
2.000 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
|
280.000 |
342.600 |
|
(e)
Other Non-current assets |
|
17.600 |
17.600 |
|
Total
Non-Current Assets |
|
2604.200 |
2746.900 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.300 |
0.300 |
|
(b)
Inventories |
|
642.600 |
574.300 |
|
(c)
Trade receivables |
|
634.300 |
760.900 |
|
(d)
Cash and cash equivalents |
|
29.000 |
60.800 |
|
(e)
Short-term loans and advances |
|
272.300 |
208.700 |
|
(f)
Other current assets |
|
102.700 |
222.500 |
|
Total
Current Assets |
|
1681.200 |
1827.500 |
|
|
|
|
|
|
TOTAL |
|
4285.400 |
4574.400 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
|
5249.100 |
5380.200 |
|
|
|
Other Income |
|
73.600 |
160.200 |
|
|
|
TOTAL (A) |
|
5322.700 |
5540.400 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
2673.800 |
2685.300 |
|
|
|
Purchases of Stock-in-Trade |
|
57.800 |
6.100 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(20.400) |
(12.700) |
|
|
|
Employees benefits expense |
|
1146.000 |
1195.500 |
|
|
|
Exceptional (Expenses) / Incomes |
|
0.000 |
(235.200) |
|
|
|
Other expenses |
|
1196.400 |
1099.100 |
|
|
|
TOTAL (B) |
|
5053.600 |
4738.100 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
269.100 |
802.300 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
270.100 |
496.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
(1.000) |
305.700 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
160.600 |
167.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE
TAX (E-F) (G) |
|
(161.600) |
138.200 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
(4.600) |
5.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
|
(157.000) |
132.800 |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss)
Per Share (INR) |
|
(12.80) |
10.83 |
|
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 |
Yes |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G65614539 |
100136216 |
MAHINDRA AND
MAHINDRA FINANCIAL SERVICES LIMITED |
20/07/2017 |
- |
- |
736250.0 |
GATEWAY BUILDING,
APOLLO BUNDER,.MUMBAIMA400001IN |
|
2 |
G65616666 |
100136212 |
MAHINDRA AND
MAHINDRA FINANCIAL SERVICES LIMITED |
20/07/2017 |
- |
- |
736250.0 |
GATEWAY BUILDING,
APOLLO BUNDER,.MUMBAIMA400001IN |
|
3 |
G65606741 |
100136210 |
MAHINDRA AND
MAHINDRA FINANCIAL SERVICES LIMITED |
07/07/2017 |
- |
- |
506000.0 |
GATEWAY BUILDING,
APOLLO BUNDER,.MUMBAIMA400001IN |
|
4 |
G41521170 |
100091908 |
MAHINDRA AND
MAHINDRA FINANCIAL SERVICES LIMITED |
09/03/2017 |
- |
- |
750000.0 |
GATEWAY BUILDING,
APOLLO BUNDER,.MUMBAIMA400001IN |
|
5 |
G42387472 |
100093716 |
AXIS BANK LIMITED |
25/11/2016 |
- |
- |
1760000.0 |
TRISHUL 3RD FLOOR OPP
SAMARTHESHWAR TEMPLELAW GARDEN ELLISBRIDGEAHMEDABADGJ380006IN |
|
6 |
G40742322 |
100089153 |
KOTAK MAHINDRA
PRIME LIMITED |
29/10/2016 |
- |
- |
750000.0 |
27BKC, C 27, G
BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMA400051IN |
|
7 |
G28904605 |
10325860 |
SBICAP TRUSTEE
COMPANY LIMITED |
25/11/2011 |
24/11/2016 |
- |
2485600000.0 |
202, MAKER TOWER,
'E',CUFFE PARADE, COLABAMUMBAIMH400005IN |
|
8 |
A98852320 |
10255054 |
ALLAHABAD BANK |
25/09/2010 |
- |
- |
500000000.0 |
GROUND
FLOOR,37MUMBAI SAMACHAR MARG, FORTMUMBAIMH400023IN |
|
9 |
A95961819 |
10242811 |
STATE BANK OF
INDIA |
15/09/2010 |
- |
- |
2130000000.0 |
INDUSTRIAL FINANCE
BRANCH, SNEHAL CHAMBERSTELLI GALLI, ANDHERI (EAST)MUMBAIMH400069IN |
|
10 |
A95633616 |
10242441 |
STATE BANK OF
INDIA |
15/09/2010 |
- |
- |
2802800000.0 |
INDUSTRIAL FINANCE
BRANCH SNEHAL CHEMBERTELLI GALLI ,ANDHERI EASTMUMBAIMH400069IN |
|
11 |
A83631200 |
10213781 |
ALLAHABAD BANK |
29/03/2010 |
- |
- |
500000000.0 |
37, MUMBAI
SAMACHAR MARGFORT BRANCHMUMBAIMH400023IN |
|
12 |
A71748602 |
10182401 |
UNION BANK OF
INDIA |
24/09/2009 |
- |
- |
250000000.0 |
CORPORATE &
SME BRANCH, ADISHANKARACHARYA MARG,OPP. POWAI LAKE, POWAIMUMBAIMH400072IN |
|
13 |
A40695124 |
10109569 |
EXPORT- IMPORT
BANK OF INDIA |
03/04/2008 |
- |
- |
850000000.0 |
FLOOR 21, CENTRE
ONE BUILDINGWORLD TRADE CENTRE COMPLEX, CUFFE PARADEMUMBAIMH400005IN |
|
14 |
A21555867 |
10064334 |
EXPORT IMPORT BANK
OF INDIA |
20/07/2007 |
- |
- |
310000000.0 |
CENTRE ONE
BUILDING, FLOOR 21WORLD TRADE CENTRE COMPLEX, CUFFE PARADEMUMBAIMH400005IN |
|
15 |
Y10260108 |
90160338 |
BANK OF BARODA |
24/09/2004 |
20/02/2004 |
- |
10000000.0 |
INTERNATIONAL
BUSINESS BRANCHGENERAL J BHOSALE MARGMUMBAIMH400021IN |
|
16 |
Y10333864 |
90231073 |
BANK OF BARODA |
24/10/2000 |
24/03/2006 |
- |
100000000.0 |
INTERNATIOANL
BUSINESS BRANCHGENERAL J.BHOSALE MARG,MUMBAIMH400021IN |
|
17 |
Y10259726 |
90159956 |
BANK OF BARODA |
24/09/2000 |
- |
- |
10000000.0 |
INTERNATIONAL
BUSINESS BRANCHGENERAL J BHOSALE MARGMUMBAIMH400021IN |
|
18 |
A61431425 |
90231059 |
BANK OF BARODA |
18/04/2000 |
13/03/2009 |
- |
1203000000.0 |
P.B.
NO11745,FORESHORE BUILDINGGEN. BHOSLE MARG, NR. SACHIVALAYA GYMKHANNANARIMAN
POINT MUMBAIMH400021IN |
|
19 |
Y10259691 |
90159921 |
BANK OF BARODA |
18/04/2000 |
30/12/2003 |
- |
10000000.0 |
INTERMATIONAL
BUSINESS BRANCHGENERAL J BHOSALE MARGMUMBAIMH400021IN |
|
20 |
G48365993 |
10201437 |
CENTRAL BANK OF
INDIA |
17/02/2010 |
- |
12/07/2017 |
250000000.0 |
NARIMAN POINT
BRANCH,CHANDRAMUKHI BLDGR FLOOR,NARIMAN POINTMUMBAIMH400021IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Inter-corporate deposits repayable on demand |
31.400 |
34.400 |
|
|
|
|
|
Total |
31.400 |
34.400 |
CHANGE OF ADDRESS:
The Registered Office address of the company has been shifted from
SCO 183, 1st Floor, Sector 26, Madhya Marg, Chandigarh – 160019,
India to the
present address
CORPORATE INFORMATION
The Company is a Public Limited Company incorporated in India. The Company is engaged in business of manufacturing of agro chemicals, speciality chemicals and bulk drugs and its intermediates. The Company has presence in both the domestic and international markets.
All the subsidiaries and other companies of the Group are engaged in the business of agro chemicals and other chemicals and therefore the aforesaid statement of nature of business operations hold good for the group also.
STANDALONE OPERATIONS:
The revival steps taken by the Company’s Management specially to focus on the agrochemicals have shown positive results in the year. The Revenue from Operations on Standalone basis during the year was INR 4110.000 million with a net profit of INR 21.300 million as against the revenue of INR 3570.000 million and a profit of INR 356.200 million in the previous year with the exceptional income amounting to INR 344.600 crore on account of onetime settlement with State Bank of India. The growth in business is responsible for the improved results.
The Agrochemicals Division continues to be the backbone of the Company. The turnover increased by 13% in the current year. The operational workings of the Pharma Division also improved as new products were introduced into the range and more job work was undertaken. The turnover of Pharma Division increased by 32%. The workings of Industrial Chemicals Division also showed better results.
OUTLOOK:
The Indian agriculture sector remains the backbone of the nation’s economy, accounting for about 15 percent of the country’s GDP. Nearly 60 percent of rural households rely on agriculture as their principal means of livelihood. To support continued growth, the agrochemical industry sector is developing strategies to leverage opportunities involving insecticides and fungicides, new labor-saving herbicides, more products moving off-patent, and innovations in agrochemical solutions. Backed by the government policies such as Make in India and tax reform measures, the crop enhancement solutions are being developed based on best global practices and the latest technologies. Properly designed and executed, current initiatives can help India become a global manufacturing hub of quality crop protection chemicals.
Barring unforeseen circumstances, the Company also expects to grow with the sector.
FINANCE:
The Management has taken various steps, as detailed in the foregoing paragraphs to improve the liquidity position of the Company.
As stated earlier, Central Bank of India has accepted the proposal for One Time Settlement (OTS) for the debts of the Company. The necessary adjustment in the book of accounts will be carried out after the compliance of all conditions as specified in the said OTS.
MANAGEMENT DISCUSSION
AND ANALYSIS REPORT
INDUSTRY STRUCTURE
AND DEVELOPMENT:
India is on the threshold of major reforms and is poised to become the third-largest economy of the world by 2030. The Indian chemical industry stands as the third largest producer in Asia and 12th in world, in terms of volume and also accounts for fourth largest producer of agrochemicals.
The budget 2017-18 has provided a big fillip for the Indian Agri-sector. The budget has pitched for some reforms in agriculture and increased fund for insurance and irrigation schemes along with various other measures to boost farm income and to double it in the next five years. All these schemes will address working capital requirements of farmers and should thereby support growth in agrochemical sales.
OUTLOOK:
The research analyst predicts the agrochemical market in India to grow steadily at a CAGR of over 9% during 2017. With the positive economic outlook, in most of the world markets, your Company’s business is expected to grow at a consistent pace. The Management of the Company has continued to focus on Agro Chemicals technical manufacturing, the backbone of the Company’s business and on improving margins and cash flows.
STATEMENT
OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 31st
DECEMBER 2017
(INR IN MILLION)
|
Sr. No. |
Particulars |
Quarter Ended |
Nine
Months Ended |
|
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
|
Unaudited |
Unaudited |
Unaudited |
|
1. |
Revenue
from Operation |
1242.300 |
1124.400 |
3452.100 |
|
3 |
Other
Income |
19.800 |
22.700 |
79.600 |
|
4 |
Total income |
1262.100 |
1147.100 |
3531.700 |
|
|
|
|
|
|
|
5. |
Expenses |
|
|
|
|
|
a)
Cost of materials consumed |
799.500 |
671.800 |
2092.600 |
|
|
b)
Purchase of traded goods |
0.000 |
0.000 |
6.200 |
|
|
c)
Changes in inventories of finished goods, work-in-progress and traded goods |
1.500 |
(23.700) |
(24.200) |
|
|
d)
Excise duty on sale of good |
0.000 |
0.000 |
26.700 |
|
|
e)
Employee benefits expense |
133.900 |
132.100 |
395.400 |
|
|
f)
Finance Costs |
35.400 |
35.200 |
104.300 |
|
|
g)
Depreciation and amortisation expense |
40.400 |
42.300 |
132.600 |
|
|
h)
Other expenses |
|
|
|
|
|
i)
Power and fuel expenses |
114.200 |
124.500 |
334.100 |
|
|
ii)
Others |
128.300 |
157.800 |
429.400 |
|
|
Total Expenses |
1253.200 |
1140.000 |
3497.100 |
|
|
|
|
|
|
|
6. |
Profit before exceptional
Items and tax |
8.900 |
7.100 |
34.600 |
|
7. |
Exceptional
Items |
0.000 |
0.000 |
32.600 |
|
8. |
Profit before tax |
8.900 |
7.100 |
67.200 |
|
9. |
Tax
expense |
|
|
|
|
|
a)
Current tax |
0.000 |
4.400 |
0.000 |
|
|
b)
Deferred tax |
(5.100) |
.000 |
(5.100) |
|
|
c)
Mat credit |
|
|
|
|
10. |
Net profit after tax |
14.000 |
2.700 |
72.300 |
|
11. |
Other Comprehensive Income |
|
|
|
|
12. |
A. Items that will not be reclassified to profit or loss |
0.200 |
0.200 |
0.600 |
|
13. |
B. Income tax relating to items that will not be reclassified to profit or loss |
0.000 |
0.100 |
0.000 |
|
14. |
Total Comprehensive Income for the period |
14.200 |
3.000 |
72.900 |
|
15. |
Paid - up Equity Share Capital (Face value of INR 10/- per share) |
122.600 |
122.600 |
122.600 |
|
16. |
Earnings Per Share (EPS) |
|
|
|
|
17. |
Basic and Diluted |
1.14 |
0.22 |
5.89 |
NOTES:
i) The above Standalone Unaudited Results as reviewed by the Audit Committee have been approved at the meeting of the Board of Directors held on 12 February 2018 and have been subjected to Limited Review by the Statutory Auditors.
ii) The Company adopted Indian Accounting Standards (Ind-AS) from 01 April 2017
with the transition date of 01 April 2016 and accordingly these financial
results have been prepared in accordance with the recognition and measurement
principles laid down in the Indian Accounting Standard (Ind-AS) 34-Interim
Financial Reporting and other accounting principles generally accepted in
India. Consequently, erstwhile Indian Generally Accepted Accounting Principles
(IGAAP) results for the quarter and nine months ended 31 December 2016 has been
restated to make them comparable. Reconciliation of net profit as reported
under erstwhile IGAAP and as restated now under Ind-AS is as under:
|
Particulars |
31.12.2016 (Unaudited) |
|
Net profit for the
period under previous Indian GAAP |
12.200 |
|
Actuarial gain on defined benefit plans reclassified to Other Comprehensive Income |
(0.700) |
|
Finance cost adjustment on account of Fair valuation of borrowings |
(9.100) |
|
Tax and others |
0.200 |
|
|
|
|
Net Profit for the
period under Ind AS |
2.600 |
iii) The Company is engaged in the single operating segment “Performance
Chemicals”.
iv) According to the requirements of Ind AS and SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, revenue for the corresponding
previous quarter ended 31 December 2016 and for the nine months ended 31
December 2016 were reported inclusive of Excise Duty. The Government of India
has implemented Goods and Service Tax ('GST') from 01 July 2017 replacing
Excise Duty, Service Tax and various other indirect taxes. As per Ind AS 118,
the revenue for the quarters ended 31 December 2017 and 30 September 2017 are
reported net of GST. Had the previously reported revenues shown net of excise
duty, comparative revenue of the Company would have been as follows:
|
Sr. No. |
Particulars |
Quarter Ended |
Nine
Months Ended |
|
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
|
Unaudited |
Unaudited |
Unaudited |
|
1. |
Revenue
from Operation |
1242.300 |
1124.400 |
3452.100 |
|
2. |
Less:
Excise duty on sales |
0.000 |
0.000 |
2.6700 |
|
3. |
Revenue
from operations |
1242.300 |
1124.400 |
3425.400 |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Claims against the
company not acknowledged as debts |
|
|
|
Excise duty matters in dispute or under appeal |
5820.000 |
58.900 |
|
Income Tax matters in dispute or under appeal |
81.400 |
81.400 |
|
Demand raised by Sales Tax Authorities |
1.100 |
1.100 |
|
Labour laws matters in dispute or under appeal |
0.800 |
0.700 |
|
Demand raised by previous land owners |
0.759 |
66.000 |
|
Corporate guarantee given on behalf of the subsidiary companies |
0.000 |
122.600 |
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipment’s
Intangible Assets
·
Computer Software
·
Technical Know how
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 65.13 |
|
UK Pound |
1 |
INR 91.96 |
|
Euro |
1 |
INR 80.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
SWT |
|
|
|
|
Analysis Done by
: |
PRS |
|
|
|
|
Report Prepared
by : |
ARC |
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.