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MIRA INFORM REPORT
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Report No. : |
500848 |
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Report Date : |
30.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
THE SUPREME INDUSTRIES LIMITED |
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Registered Office
: |
612, Raheja Chambers, Nariman Point, Mumbai – 400 021, |
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Tel. No.: |
91-22-22851656/ 22820072/ 22851159-60 |
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Country : |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
17.02.1942 |
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Com. Reg. No.: |
11-003554 |
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Capital
Investment / Paid-up Capital : |
INR 254.100
Million |
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CIN No.: [Company Identification
No.] |
L35920MH1942PLC003554 |
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IEC No.: [Import-Export Code No.] |
0388076674 |
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TIN No.: |
27390253728 |
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PAN No.: [Permanent Account No.] |
AAACT1344F |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
27AAACT1344F1ZO |
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Legal Form : |
Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges. |
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Line of Business
: |
Subject is engaged in manufacturing various plastic
products like Plastic Piping System, Industrial and Engineering Molded
products, Storage and Material Handling Products, Plastic Molded Furniture,
Protective Packaging Products, Cross Laminated Film and products thereof,
Performance packaging Film and Composite LPG Cylinders etc. (Registered Activity) |
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No. of Employees
: |
4712 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low risk
of default |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
The Supreme Industries Limited was incorporated in the year 1942. It operate in segments such as plastic piping systems, packaging products, industrial components, material handling system, cross-laminated polyethylene films and products and furniture. The rating reflects company's healthy operational performance risk profile over the years, supported by its diversified revenue profile with profitability margin at 7.40%, addition of new products in product portfolio, and strong market position across segments. This rating strength is partially offset by the company’s exposure to risks relating to volatile raw material prices and intense competition. Business is active. Payment seems to be regular and as per commitment. In view of renowned Brand name “Supreme”, the company can be considered good for normal business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
|
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 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long terms Bank Facilities : AA |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
31.01.2018 |
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Rating Agency Name |
CRISIL |
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Rating |
Short terms Bank Facilities : A1+ |
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Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
31.01.2018 |
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 30.03.2018
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 BY
|
Name : |
Not Divulged |
|
Designation : |
Accounts Department |
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Contact No.: |
91-22-22851159 |
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Date : |
28.03.2018 |
Management non-cooperative - (Tel No.: 91-22-22851656/ 22820072/
67710000/ 40430000 - Mobile No.: 91-9748745334)
LOCATIONS
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Registered Office : |
612, Raheja Chambers, Nariman Point, Mumbai – 400 021, |
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Tel. No.: |
91-22-22851656/ 22820072/ 22851159-60 |
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Mobile No.: |
91-9748745334 (Mr. Arabinda) |
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Fax No.: |
91-22-22851657 |
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E-Mail : |
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Website : |
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Corporate Office : |
1161 and 1162, Solitaire Corporate Park, 167, Guru Hargovindji Marg,
Andheri Ghatkopar Link Road, Andheri (East), Mumbai – 400093, Maharashtra,
India |
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Tel. No.: |
91-22-40430000/ 67710000/ 30840000 |
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Fax No.: |
91-22-40430099/ 67710099 |
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E-Mail : |
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Protective Packaging - PROTEC
and INSU and DURA – East Zone Division: |
601, Central Plaza, 2/6, Sarat Bose Road, Kolkata – 700020,
West Bengal, India |
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Tel. No.: |
91-33-24858837/ 24858839/ 24858833 |
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Factory 1 : |
At and Post Kanhe, Taluka Maval, District: Pune-412106,
Maharashtra, India |
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Factory 2 : |
Unit No.03, Gat No 47,47-2, 48 to 50, 55 to 66, 69 to 70, 72&73,
Aurangabad State Highway, At & PO Gadegaon City, Jamner, Jalgaon-425114,
Maharashtra, India |
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Factory : |
Also Located at: ·
Derabassi (Punjab) ·
Durgapur (West Bengal) ·
Gadegaon (Maharashtra) ·
Guwahati (Assam) ·
Halol - Unit I (Gujarat) ·
Halol - Unit II (Gujarat) ·
Halol - Unit III (Gujarat) ·
Halol - Unit IV (Gujarat) ·
Hosur Unit I (Tamilnadu) ·
Hosur Unit II (Tamilnadu) ·
Jalgaon - Unit II (Maharashtra) ·
Kanhe (Maharashtra) ·
Kanpur (Uttar Pradesh) ·
Khopoli (Maharashtra) ·
Khushkheda (Rajasthan) ·
Malanpur - Unit I (Madhya Pradesh) ·
Malanpur - Unit II (Madhya Pradesh) ·
Noida (Uttar Pradesh) ·
Puducherry (Union Territory) ·
Silvassa (Union Territory) ·
Sriperumbudur (Tamilnadu) · Urse (Maharashtra) |
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Branch Office : |
Located at: At Post Tathwade, Survey No 69, Tathawade, Opposite Pawar Flour
Mills Tathawade Pune- 411033, Maharashtra, India · Ahmedabad · Bangalore · Chennai · Cochin · Hyderabad · Indore · Kanpur · Kolkata · Mumbai · New Delhi |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Mahavirprasad Surajmal Taparia |
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Designation : |
Managing Director |
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Address : |
Girikunj, 71, Marine Drive, F, Churchgate, Mumbai-400020, Maharashtra,
India |
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Date of Appointment : |
02.08.1966 |
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DIN No.: |
00112461 |
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Name : |
Mr. Shivratan Jeetmal Taparia |
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Designation : |
Whole-time director |
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Address : |
71, Girikunj, 6th Road, Marine Lines, Mumbai-400020, Maharashtra,
India |
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Date of Appointment : |
15.06.1977 |
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DIN No.: |
00112513 |
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Name : |
Mr. Vijaykumar Bajranglal Taparia |
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Designation : |
Whole-time director |
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Address : |
Girikunj, 71, Netaji Subhash Road, Marine Drive, Mumbai-400020,
Maharashtra, India |
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Date of Appointment : |
29.10.1984 |
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DIN No.: |
00112567 |
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Name : |
Mr. Bajranglal Surajmal Taparia |
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Designation : |
Chairman |
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Address : |
71, Girikunj, 6th Floor Marine Drive, Netaji Subhash Road, Mumbai-400020, Maharashtra, India |
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Date of Birth/Age : |
25.11.1934 |
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Date of Appointment : |
15.06.1977 |
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Qualification : |
B. Com |
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Expertise in
specific functional area : |
Overall guidance in framing Business Policies and Social Work |
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DIN No.: |
00112438 |
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Name : |
Mr. Bhupendranath Bhargava |
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Designation : |
Director |
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Address : |
B/1201, Gulmohar Apartments, Ceaser Road, Amboli, Andheri (West), Mumbai-400058,
Maharashtra, India |
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Date of Appointment : |
25.09.1996 |
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DIN No.: |
00001823 |
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Name : |
Mr. Yogendra Premkrishna Trivedi |
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Designation : |
Director |
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Address : |
"Ministry Manor", 62-A, Napeansea Road, Mumbai-400006, Maharashtra,
India |
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Date of Appointment : |
30.08.2003 |
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DIN No.: |
00001879 |
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Name : |
Mr. Rajeev Mahendra Pandia |
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Designation : |
Director |
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Address : |
701, Benson Sai Baba Road, Santacruz (West), Mumbai-400054,
Maharashtra, India |
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Date of Appointment : |
17.09.2014 |
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DIN No.: |
00021730 |
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Name : |
Mr. Naresh Nagindas Khandwala |
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Designation : |
Director |
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Address : |
Ram-Krishna, Plot 173, 10th Road, Khar (West), Mumbai-400052,
Maharashtra, India |
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Date of Appointment : |
23.09.1982 |
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DIN No.: |
00112603 |
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Name : |
Mrs. Rashna Hoshang Khan |
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Designation : |
Director |
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Address : |
6, Shiv Shanti Bhavan, 1st Floor, 146, M. Karve Road, Mumbai-400020,
Maharashtra, India |
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Date of Appointment : |
21.07.2014 |
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DIN No.: |
06928148 |
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Name : |
Mr. Ramanathan Kannan |
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Designation : |
Director |
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Address : |
21,Parthasarathypuram North Usman Road, T. Nagar Chennai-600017, Tamilnadu, India |
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Date of Appointment : |
17.09.2014 |
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DIN No.: |
00380328 |
KEY EXECUTIVES
|
Name : |
Mr. Rajendrakumar Jugalkishore Saboo |
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Designation : |
AVP (Corporate Affairs) and Company Secretary |
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Address : |
16, Rekha 83, R.A. Kidwai Road, Wadala, Mumbai – 400031, Maharashtra, India |
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Date of Appointment : |
18.08.2012 |
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PAN No.: |
AAGPS3421B |
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Name : |
Mr. Prakashchandra Bhagatram Somani |
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Designation : |
Chief Financial Officer |
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Address : |
714, Indraprasht Aahash CHS, Satyanagar, Borivali (West),
Mumbai-400092, Mumbai, 400092, Maharashtra, India |
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Date of Appointment : |
21.07.2014 |
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PAN No.: |
AAKPS5529G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2017
|
Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of
shares (calculated as per SCRR, 1957)As a % |
|
|
(A) Promoter & Promoter Group |
63132745 |
49.70 |
|
|
(B) Public |
63894125 |
50.30 |
|
|
Grand
Total |
127026870 |
100.00 |
Statement showing
shareholding pattern of the Promoter and Promoter Group
|
Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of shares
(calculated as per SCRR, 1957)As a % |
|
|
A1) Indian |
|||
|
Individuals/Hindu
undivided Family |
3235590 |
2.55 |
|
|
MAHAVEER PRASAD TAPARIA |
749186 |
0.59 |
|
|
VIJAY KUMAR TAPARIA |
344890 |
0.27 |
|
|
SHIVRATAN TAPARIA |
703816 |
0.55 |
|
|
KUSUMDEVI TAPARIA |
98690 |
0.08 |
|
|
SHRI BAJRANGLAL TAPARIA |
317398 |
0.25 |
|
|
PRIYANKA DEVI TAPARIA |
141500 |
0.11 |
|
|
KAMLESHDEVI TAPARIA |
347830 |
0.27 |
|
|
VIVEK KUMAR TAPARIA |
262230 |
0.21 |
|
|
VIREN VIVEK TAPARIA |
200050 |
0.16 |
|
|
ANIKA VIVEKKUMAR TAPARIA |
20000 |
0.02 |
|
|
AKSHAY VIVEKKUMAR TAPARIA |
50000 |
0.04 |
|
|
Any
Other (specify) |
59897155 |
47.15 |
|
|
Boon Investment And Trading
Company Private Limited |
20206592 |
15.91 |
|
|
Jovial Investment And Trading Company
PrivateLimited |
19912082 |
15.68 |
|
|
Venktesh Investment And
Trading Company Private Limited |
19693081 |
15.50 |
|
|
PLATINUM PLASTIC AND
INDUSTRIES PRIVATE LIMITED |
49100 |
0.04 |
|
|
SPACE AGE CHEMPLAST PRIVATE
LIMITED |
30000 |
0.02 |
|
|
SURAJ PACKAGING PRIVATE
LIMITED |
6300 |
0.00 |
|
|
Sub
Total A1 |
63132745 |
49.70 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
63132745 |
49.70 |
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 |
|
|
B1)
Institutions |
|
|
|
|
Mutual
Funds/ |
7494440 |
5.90 |
|
|
HDFC TRUSTEE COMPANY LIMITED -
A/C HDFC MID - CAPOPPORTUNITIES FUND |
2140500 |
1.69 |
|
|
Alternate
Investment Funds |
549988 |
0.43 |
|
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Foreign
Portfolio Investors |
13224352 |
10.41 |
|
|
SMALLCAP WORLD FUND, INC |
5511392 |
4.34 |
|
|
Financial
Institutions/ Banks |
48742 |
0.04 |
|
|
Any
Other (specify) |
15630785 |
12.31 |
|
|
NALANDA INDIA FUND LIMITED |
8176502 |
6.44 |
|
|
JPMORGAN EMERGING MARKETS
INVESTMENT TRUST PLC |
1479890 |
1.17 |
|
|
J P MORGAN FUNDS |
1491820 |
1.17 |
|
|
Foreign Financial Institution
/ Banks |
500 |
0.00 |
|
|
Sub
Total B1 |
36948307 |
29.09 |
|
|
B2) Central
Government/ State Government(s)/ President of India |
0 |
0.00 |
|
|
B3)
Non-Institutions |
0 |
0.00 |
|
|
Individual
share capital upto INR 0.200 million |
18714257 |
14.73 |
|
|
Individual
share capital in excess of INR 0.200 million |
2932217 |
2.31 |
|
|
NBFCs
registered with RBI |
3237 |
0.00 |
|
|
Any
Other (specify) |
5296107 |
4.17 |
|
|
Bodies Corporate |
4643070 |
3.66 |
|
|
Clearing Members |
50397 |
0.04 |
|
|
NRI – Non- Repat |
174084 |
0.14 |
|
|
NRI |
379808 |
0.30 |
|
|
NRI – Repat |
45398 |
0.04 |
|
|
Trusts |
3350 |
0.00 |
|
|
Sub
Total B3 |
26945818 |
21.21 |
|
|
B=B1+B2+B3 |
63894125 |
50.30 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing various plastic
products like Plastic Piping System, Industrial and Engineering Molded products,
Storage and Material Handling Products, Plastic Molded Furniture, Protective
Packaging Products, Cross Laminated Film and products thereof, Performance
packaging Film and Composite LPG Cylinders etc. (Registered Activity) |
||||
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Products : |
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Brand Names : |
“SUPREME” |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
4712 (Approximately) |
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Bankers : |
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Facilities : |
|
|
Statutory Auditors |
|
|
Name : |
Lodha and Company Chartered Accountants |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary Company : |
The Supreme Industries Overseas FZE, Sarjah |
|
|
|
|
Associates : |
Supreme Petrochem Limited |
|
|
|
|
Enterprises in
which Directors have significant influence: |
Devrat Impex Private Limited |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000000 |
Equity Shares |
INR 2/- each |
INR 300.000 Million |
|
11200000 |
Preference Shares |
INR 10/- each |
INR 112.000 Million |
|
33800000 |
Unclassified Shares |
INR 10/- each |
INR 338.000 Million |
|
|
Total |
|
INR 750.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
127026870 |
Equity Shares |
INR 2/- each |
INR 254.054
Million |
|
|
|
|
|
The reconciliation of
the number of equity shares outstanding is set out below:
(INR in Million)
|
Particulars |
As at 31.03.2017 |
|
|
Numbers |
Amount |
|
|
Equity Shares at the beginning of the year |
127026870 |
254.054 |
|
Equity Shares at the
end of the year |
127026870 |
254.054 |
Terms/rights attached
to Equity shares:
The company has only one class of issued Equity Shares having a par value of INR 2 per share. Each Shareholder is eligible for one vote per share held.
The Dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of Interim Dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the company after distribution of all preferential amounts, in proportion to their shareholding.
The details of
Shareholders holding more than 5% shares:
|
Name of the
Shareholders |
As at 31.03.2017 |
|
|
No. of Equity Shares |
% of Holding |
|
|
Boon Investment and Trading Company Private Limited |
20206592 |
15.91% |
|
Jovial Investment and Trading Company Private Limited |
19912082 |
15.68% |
|
Venkatesh Investment and Trading Company Private Limited |
19693081 |
15.50% |
|
Nalanda India Fund Limited |
8176502 |
6.44% |
In the Period of five
years immediately preceding March, 2017:
The Company has not alloted any equity shares as fully paid up without payment being received in cash or as Bonus Shares or Bought back any equity shares.
Proposed Dividend:
The Board of directors have recommended the payment of a
final dividend of INR 12 per fully paid up equity share (March 31, 2016: NIL),
The proposed dividend is subject to the approval of shareholders in the ensuing
annual general meeting.
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES
OF FUNDS |
31.03.2017 (12 Months) |
31.03.2016 (9 Months) |
30.06.2015 (12 Months) |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
254.100 |
254.100 |
254.054 |
|
(b) Reserves & Surplus |
15280.400 |
11967.300 |
10981.435 |
|
(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) |
15534.500 |
12221.400 |
11235.489 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
166.200 |
641.400 |
2329.387 |
|
(b) Deferred tax liabilities
(Net) |
1162.600 |
115.200 |
895.081 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
27.002 |
|
(d) long-term provisions |
133.000 |
1054.800 |
88.054 |
|
(e) Deposits |
8.400 |
10.400 |
0.000 |
|
Total
Non-current Liabilities (3) |
1470.200 |
1821.800 |
3339.524 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2149.200 |
1638.400 |
958.560 |
|
(b) Trade payables |
4536.200 |
3442.200 |
3005.205 |
|
(c) Other current liabilities |
3013.800 |
4154.200 |
2583.415 |
|
(d) Short-term provisions |
40.400 |
34.900 |
1569.282 |
|
(e) Deposits |
10.000 |
5.100 |
0.000 |
|
Total
Current Liabilities (4) |
9749.600 |
9274.800 |
8116.462 |
|
|
|
|
|
|
TOTAL |
26754.300 |
23318.000 |
22691.475 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
12541.100 |
11707.000 |
10151.262 |
|
(ii) Intangible Assets |
91.900 |
139.500 |
173.748 |
|
(iii) Capital work-in-progress |
459.000 |
682.100 |
997.986 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
336.600 |
336.200 |
336.406 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
222.500 |
228.600 |
917.000 |
|
(e) Other Non-current assets |
325.400 |
466.000 |
2.289 |
|
Total
Non-Current Assets |
13976.500 |
13559.400 |
12578.691 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
7767.900 |
5578.500 |
4646.703 |
|
(c) Trade receivables |
2756.400 |
2361.700 |
2376.292 |
|
(d) Cash and cash equivalents |
787.300 |
283.500 |
1814.729 |
|
(e) Short-term loans and
advances |
66.600 |
70.900 |
1261.240 |
|
(f) Other current assets |
1399.600 |
1464.000 |
13.820 |
|
Total
Current Assets |
12777.800 |
9758.600 |
10112.784 |
|
|
|
|
|
|
TOTAL |
26754.300 |
23318.000 |
22691.475 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 (12 Months) |
31.03.2016 (9 Months) |
30.06.2015 (12 Months) |
|
|
SALES |
|
|
|
|
|
Income |
44617.700 |
29600.600 |
42546.776 |
|
|
Other Income |
80.200 |
108.200 |
67.720 |
|
|
TOTAL
|
44697.900 |
29708.800 |
42614.496 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
29392.600 |
19676.200 |
27345.906 |
|
|
Purchases of Stock-in-Trade |
745.100 |
533.400 |
1693.863 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(1219.800) |
(714.300) |
(3.004) |
|
|
Employees benefits expense |
2110.500 |
1456.700 |
1674.952 |
|
|
Other expenses |
5973.400 |
4039.800 |
5176.307 |
|
|
Exceptional Items |
0.000 |
76.900 |
0.000 |
|
|
TOTAL |
37001.800 |
25068.700 |
35888.024 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
7696.100 |
4640.100 |
6726.472 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
302.400 |
288.700 |
579.497 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
7393.700 |
4351.400 |
6146.975 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
1542.900 |
1045.700 |
1389.505 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
5850.800 |
3305.700 |
4757.470 |
|
|
|
|
|
|
|
Less |
TAX |
2057.800 |
1176.400 |
1600.400 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
3793.000 |
2129.300 |
3157.070 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
887.700 |
544.492 |
822.888 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
|
|
|
|
Basic and Diluted Earning
Per Share (Before exceptional Income/Loss) |
29.86 |
17.37 |
24.85 |
|
|
Basic and Diluted
Earning Per Share (After exceptional Income/Loss) |
29.86 |
16.76 |
24.85 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 (12 Months) |
31.03.2016 (9 Months) |
30.06.2015 (12 Months) |
|
Current Maturities of Long term debt |
474.400 |
1841.200 |
640.571 |
|
Cash generated from operations |
6348.600 |
4214.600 |
7430.624 |
|
Net Cash Flow From Operating Activities |
4643.300 |
2962.500 |
6008.678 |
QUARTERLY
RESULTS
|
Particulars |
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
31.12..2017 (Unaudited) |
|
|
1st Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
11615.700 |
10550.600 |
12781.300 |
|
Total Expenditure |
10031.100 |
9114.400 |
10803.800 |
|
PBIDT (Excl OI) |
1584.600 |
1436.200 |
1977.500 |
|
Other Income |
4.300 |
102.400 |
33.900 |
|
Operating Profit |
1588.900 |
1538.600 |
2011.400 |
|
Interest |
33.200 |
51.500 |
78.600 |
|
Exceptional Items |
0.000 |
NA |
NA |
|
PBDT |
1555.700 |
1487.100 |
1932.800 |
|
Depreciation |
405.900 |
424.400 |
427.600 |
|
Profit Before Tax |
1149.800 |
1062.700 |
1505.200 |
|
Tax |
398.800 |
366.800 |
517.800 |
|
Provisions and
contingencies |
NA |
NA |
NA |
|
Profit After Tax |
751.000 |
695.900 |
987.400 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
751.000 |
695.900 |
987.400 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 (12 Months) |
31.03.2016 (9 Months) |
30.06.2015 (12 Months) |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
22.55 |
29.12 |
20.39 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
16.19 |
12.53 |
17.90 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
54.94 |
62.17 |
37.77 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.99 |
0.83 |
1.45 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.59 |
0.37 |
0.59 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 (12 Months) |
31.03.2016 (9 Months) |
30.06.2015 (12 Months) |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.39 |
0.50 |
0.49 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.18 |
0.34 |
0.35 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.63 |
0.76 |
0.72 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.84 |
1.03 |
1.01 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
25.45 |
16.07 |
11.61 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 (12 Months) |
31.03.2016 (9 Months) |
30.06.2015 (12 Months) |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
8.50 |
7.19 |
7.42 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
14.18 |
9.13 |
13.91 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
24.42 |
17.42 |
28.10 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 (12 Months) |
31.03.2016 (9 Months) |
30.06.2015 (12 Months) |
|
Current Ratio (Current Assets / Current Liabilities) |
1.31 |
1.05 |
1.25 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
0.51 |
0.45 |
0.67 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.58 |
0.52 |
0.50 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
10.98 |
16.22 |
15.46 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.31 |
1.05 |
1.25 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 2.00/- |
|
Market Value |
INR 1190.70/- |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
30.06.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
254.054 |
254.100 |
254.100 |
|
Reserves & Surplus |
10981.435 |
11967.300 |
15280.400 |
|
Net
worth |
11235.489 |
12221.400 |
15534.500 |
|
|
|
|
|
|
long-term borrowings |
2329.387 |
641.400 |
166.200 |
|
Short term borrowings |
958.560 |
1638.400 |
2149.200 |
|
Current maturities of
long-term debts |
640.571 |
1841.200 |
474.400 |
|
Total
borrowings |
3928.518 |
4121.000 |
2789.800 |
|
Debt/Equity
ratio |
0.350 |
0.337 |
0.180 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
30.06.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
42546.776 |
29600.600 |
44617.700 |
|
|
|
(30.428) |
50.732 |
NET PROFIT MARGIN
|
Net
Profit Margin |
30.06.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
42546.776 |
29600.600 |
44617.700 |
|
Profit |
3157.070 |
2129.300 |
3793.000 |
|
|
7.42% |
7.19% |
8.50% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES
OF FUNDS |
|
31.03.2017 (12 Months) |
31.03.2016 (9 Months) |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
254.100 |
254.100 |
|
(b) Reserves & Surplus |
|
16703.100 |
12903.100 |
|
(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) |
|
16957.200 |
13157.200 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
166.200 |
641.400 |
|
(b) Deferred tax liabilities
(Net) |
|
1162.600 |
1054.800 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
133.000 |
115.200 |
|
(e) Deposits |
|
8.400 |
10.400 |
|
Total
Non-current Liabilities (3) |
|
1470.200 |
1821.800 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
2149.200 |
1638.400 |
|
(b) Trade payables |
|
4532.500 |
3439.100 |
|
(c) Other current liabilities |
|
3013.900 |
4154.000 |
|
(d) Short-term provisions |
|
40.400 |
34.900 |
|
(e) Deposits |
|
10.000 |
5.100 |
|
Total
Current Liabilities (4) |
|
9746.000 |
9271.500 |
|
|
|
|
|
|
TOTAL |
|
28173.400 |
24250.500 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
12541.100 |
11707.000 |
|
(ii) Intangible Assets |
|
91.900 |
139.500 |
|
(iii) Capital work-in-progress |
|
459.000 |
682.100 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
1746.400 |
1261.700 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
222.500 |
228.600 |
|
(e) Other Non-current assets |
|
325.400 |
466.000 |
|
Total
Non-Current Assets |
|
15386.300 |
14484.900 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
|
|
(b) Inventories |
|
7768.500 |
5578.500 |
|
(c) Trade receivables |
|
2753.300 |
2362.200 |
|
(d) Cash and cash equivalents |
|
798.300 |
288.700 |
|
(e) Short-term loans and advances |
|
66.800 |
70.900 |
|
(f) Other current assets |
|
1400.200 |
1465.300 |
|
Total
Current Assets |
|
12787.100 |
9765.600 |
|
|
|
|
|
|
TOTAL |
|
28173.400 |
24250.500 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 (12 Months) |
31.03.2016 (9 Months) |
|
|
SALES |
|
|
|
|
|
Income |
|
44622.600 |
29600.600 |
|
|
Other Income |
|
51.300 |
21.400 |
|
|
TOTAL
|
|
44673.900 |
29622.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
29392.600 |
19676.200 |
|
|
Purchases of Stock-in-Trade |
|
743.900 |
531.500 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(1219.800) |
(714.300) |
|
|
Employees benefits expense |
|
2116.800 |
1461.000 |
|
|
Other expenses |
|
5970.400 |
4036.400 |
|
|
Exceptional Items |
|
0.000 |
76.900 |
|
|
TOTAL
|
|
37003.900 |
25067.700 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
7670.000 |
4554.300 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
302.600 |
288.800 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
7367.400 |
4265.500 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
|
1542.900 |
1045.700 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
5824.500 |
3219.800 |
|
|
|
|
|
|
|
Less |
TAX |
|
2057.800 |
1176.400 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
3766.700 |
2043.400 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
|
|
|
|
Basic
|
|
33.88 |
18.03 |
|
|
Diluted
|
|
33.88 |
17.43 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of establishment |
Yes |
|
2] |
Constitution of the entity -Incorporation
details |
Yes |
|
3] |
Locality of the entity |
Yes |
|
4] |
Premises details |
No |
|
5] |
Buyer visit details |
-- |
|
6] |
Contact numbers |
Yes |
|
7] |
Name of the person contacted |
No |
|
8] |
Designation of contact person |
Yes |
|
9] |
Promoter’s background |
Yes |
|
10] |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11] |
Pan Card No. of Proprietor / Partners |
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 about last two years
nine months |
Yes |
|
27] |
Reasons for variation <> 20% |
-- |
|
28] |
Estimation for coming financial year |
No |
|
29] |
Profitability for last about last two
years nine months |
Yes |
|
30] |
Major shareholders, if available |
Yes |
|
31] |
External Agency Rating, if available |
Yes |
|
32] |
Litigations that the firm/promoter
involved in |
-- |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
COMPANY OVERVIEW
The Company is public limited Company incorporated and domiciled in India and has registered office at 612, Raheja Chambers, Nariman Point, Mumbai 400 021. It is incorporated under the Indian Companies Act, 1913 and its shares are listed on the Bombay Stock Exchange Limited and National Stock Exchange in India.
The Supreme Industries Limited is one of the leading plastic products manufacturing company in India having 25 manufacturing facilities spread across the country. Company is engaged in manufacturing various plastic products like Plastic Piping System, Industrial and Engineering Molded products, Storage and Material Handling Products, Plastic Molded Furniture, Protective Packaging Products, Cross Laminated Film and products thereof, Performance packaging Film and Composite LPG Cylinders etc.
OVERVIEW OF THE FINANCIAL PERFORMANCE
The financial performance highlights for the year ended 31st March, 2017, are as follows –
The Company sold 340906 MT of Plastic goods and achieved net product turnover of INR 43760.000 Million during the year against sales of 329350 MT and net product turnover of INR 40970.00 Million in the corresponding period of the previous year achieving volume and product value growth of about 4% and 7%, respectively.
Total Income and Operating Profit for the current year amounted to INR 44700.000 Million and INR 7690.000 Million respectively as compared to INR 29710.000 Million and INR 4720.000 Million, in the previous financial year comprising of nine months
The Profit before Tax and Profit after Tax for the current year amounted to INR 5850.000 Million and INR 3770.000 Million respectively as compared to INR 3300.000 Million and INR 2110.000 Million, in the previous financial year comprising of nine months.
MANAGEMENT DISCUSSION AND ANALYSIS
OVERVIEW
The Country received good rainfall after two years of consecutive drought. This has led to increased food grain production and boosted horticulture activities. Overall the crude prices also remained below $ 60 per barrel throughout the year. Large inflow of foreign exchange via FDI and FII routes have kept Rupee - $ parity at a range bound level. In reality Rupee rates per $ became better by March 2017 than start of the year in April 2016.
The cumulative effects of all these factors kept consumer price inflation low. The business situation was looking robust up to 1st week of November 2016. On 8th November 2016, Government has taken step to demonetize 86% of the currency out of circulation. This has slowed down business activities in several sectors where your Company is operating during four and half months of the previous year.
During those months, the Company’s business was principally affected in the sectors where Company functions to meet agriculture and rural requirements. The agriculture segment plastics Pipe business, Cross Laminated film agricultural application and Material handling division had a negative volume growth of around 10% during that period. This has resulted in lower volume growth than in the previous year and could not meet the revised forecast made by the Company in January 2017.
Polymer prices except PVC resin remained range bound at affordable level. However, due to demonetization, the polymer consumption growth in the previous year was around 9% resulting in countrywide consumption of around 15 million tons as against 13.7 million tons in the previous year.
Increased shale gas exploration and lower growth worldwide in energy consumption due to slower growth in several countries and build up of new Polymer plant capacities in USA, China and Middle East will keep a lid on high Polymer prices. Going forward, this will lead to better demand growth of Polymer products. The overall economy situation in our Country post demonetization looks robust.
This will lead to higher growth in coming years for the Company as the Company’s products mostly cater to domestic needs. The business conditions look favourable due to execution of various initiatives announced and getting implemented by the Government which are as follows :-
|
1 |
Start of GST regime by 1st July 2017 which will integrate the Country’s economy as one. This will facilitate increased share in business of organized players like your Company |
|
2 |
Affordable Houses for all by 2022. |
|
3 |
Doubling the farmer’s income by 2022 from the base year of 2016. This will boost rural economy where your Company is active. |
|
4 |
Increased spending on irrigation, augmenting drinking water supply, strengthening sewerage and drainage network will boost your Company’s business and offers new business opportunities. |
|
5 |
Several initiatives taken by Central and various State Governments boosting economy situation in many states will increase market potential for your Company. |
The
Company is planning to augment capacities in existing plants and to put new
plants to be ready to cater to larger requirements for Company’s products after
smooth transition to new GST regime.
PRODUCT GROUPS
The product groups of the Company have been recast
as follows:
|
Group |
Products |
|
Plastics Piping System |
uPVC Pipes, Injection Moulded PVC fittings and handmade fittings, Polypropylene Random Co-polymer pipes and fittings, HDPE Pipe Systems, CPVC Pipes Systems, Inspection Chambers and manholes. Bath fittings, Roto moulded Tanks and Fittings and Solvents |
|
Consumer products |
Furniture |
|
Industrial Products |
Industrial products, Material handling System and Pallets |
|
Packaging Products |
Flexible packaging film products, Protective Packaging
Products, Cross Laminated Film products |
|
Composite Products |
LPG Gas Cylinders, Composite Pipes and Composite Pallets. |
UNSECURED LOANS
|
Particulars |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Deferred payment liabilities (under sales tax deferral
scheme) |
12.300 |
13.100 |
|
Short-term
borrowings |
|
|
|
Foreign Currency loans - Buyer’s credit |
556.600 |
260.400 |
|
Commercial papers |
1250.000 |
0.000 |
|
Total |
1818.900 |
273.500 |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Satisfaction |
Amount |
Address |
|
1 |
C44453728 |
10550836 |
Axis Bank Limited |
09/01/2015 |
- |
185000000.0 |
CORPORATE BANKING BRANCH, AXIS HOUSE, GROUND FLOOR, BOMBAY DYEING MILL
COMPOUND, P. B. MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA |
|
4 |
100066039 |
U.P. FINANCIAL CORPORATION |
27/03/1990 |
- |
287500.0 |
14/80, CIVIL LINES, KANPUR UTTAR PRADESH 208001 INDIA |
|
|
5 |
100067016 |
U. P. FINANCIAL CORPORATION |
27/03/1990 |
- |
312500.0 |
14/80, CIVIL LINES, KANPUR UTTAR PRADESH 208001 INDIA |
|
|
6 |
G55592711 |
10502087 |
HSBC BANK (MAURITIUS) LIMITED |
04/06/2014 |
22/09/2017 |
1190000000.0 |
6TH FLOOR, HSBC CENTRE,, 18 CYBERCITY, EBENE, - NA, MAURITIUS |
|
7 |
G22735070 |
100044625 |
UNION BANK OF INDIA |
20/02/1981 |
24/10/2016 |
2500000.0 |
BOMBAY MAIN OFFICE, NARIMAN POINT MUMBAI MAHARASHTRA 400021 INDIA |
|
8 |
G22739197 |
100038878 |
UNION BANK OF INDIA |
30/08/1988 |
24/10/2016 |
5100000.0 |
BOMBAY MAIN OFFICE, NARIMAN POINT MUMBAI MAHARASHTRA 400021 INDIA |
|
9 |
G22736433 |
100038641 |
UNION BANK OF INDIA |
30/08/1988 |
24/10/2016 |
375000.0 |
BOMBAY MAIN OFFICE, NARIMAN POINT MUMBAI MAHARASHTRA 400021 INDIA |
|
10 |
G22733760 |
100042741 |
UNION BANK OF INDIA |
20/08/1987 |
24/10/2016 |
3500000.0 |
NARIMAN POINT BRANCH, 239, BACKBAY RECLAMATION, NARIMAN POINT MUMBAI MAHARASHTRA 400021 INDIA |
|
11 |
G17850413 |
100042931 |
THE SARASWAT CO-OP BANK LTD |
18/02/1984 |
24/10/2016 |
1050000.0 |
Taj Building, Ground Floor, New New Excelsior Cinema, Amrit Keshav Nay Bombay MAHARASHTRA 400001 INDIA |
|
12 |
G22734370 |
100042932 |
UNION BANK OF INDIA |
19/02/1988 |
24/10/2016 |
1000000.0 |
BOMBAY MAIN OFFICE, NARIMAN POINT MUMBAI MAHARASHTRA 400021 INDIA |
CONTINGENT LIABILITIES:
|
Particulars |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Bills/Cheques
discounted |
327.700 |
1636 |
|
Claim
against the Company including Show-cause-cum- demand Notices in relation to
Central Excise and Service Tax not acknowledged as debts |
171.100 |
1371 |
|
Disputed
Income Tax demands |
94.200 |
270.600 |
|
Disputed
Sales Tax / Entry Tax demands |
53.700 |
96.500 |
|
Other
claims against the Company not acknowledged as debts |
26.900 |
28.000 |
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 |
|
|
|
|
a. Revenue from operations |
12781.300 |
10550.600 |
34947.700 |
|
b. Other Income |
33.900 |
102.400 |
140.700 |
|
Total Income from
Operations (Net) |
12815.200 |
10653.000 |
35088.400 |
|
Expenditure |
|
|
|
|
Cost of material Consumed |
8094.500 |
7348.700 |
23008.900 |
|
Purchase of Stock-in trade |
267.800 |
296.800 |
783.600 |
|
Changes in inventory of finished Goods, work- in-progress and Stock-in-trade |
123.900 |
-671.800 |
-394.100 |
|
Employees Benefit Expenses |
596.400 |
577.800 |
1709.900 |
|
Finance Cost |
78.600 |
51.500 |
163.300 |
|
Depreciation and Amortization Expenses |
427.600 |
424.400 |
1257.900 |
|
Power and Fuel expenses |
467.200 |
414.200 |
1288.900 |
|
Other expenses |
1254.000 |
1148.800 |
3552.000 |
|
Total Expenses |
11310.000 |
9590.400 |
31370.400 |
|
|
|
|
|
|
Profit / (Loss)
before tax |
1505.200 |
1062.600 |
3873.100 |
|
Tax Expense |
|
|
|
|
- Current Tax |
525.100 |
305.000 |
1233.400 |
|
- Deferred Tax |
(7.300) |
61.700 |
50.000 |
|
- Total |
517.800 |
366.700 |
1283.400 |
|
|
|
|
|
|
Net Profit After
Tax |
987.400 |
695.900 |
2434.600 |
|
|
|
|
|
|
Other comprehensive income |
|
|
|
|
Items that will not be reclassified to profit or loss |
|
|
|
|
(i) Remeasurment of net defined benefit plans |
(8.100) |
(8.100) |
(24.200) |
|
(iii) Income tax relating to remeasurment of net defined
benefit plans |
2.800 |
2.800 |
8.400 |
|
Other comprehensive income, net of income tax |
982.100 |
690.600 |
2418.800 |
|
|
|
|
|
|
Total Other comprehensive income, net of income tax |
|
|
|
|
|
|
|
|
|
Paid- up
Equity Share Capital (share – INR 2) |
254.100 |
254.100 |
254.100 |
|
Other Equity (as per balance sheet of the previous
accounting year) |
|
|
|
|
|
|
|
|
|
Earnings Per Share (of INR 2 each) (not annualized) (Basic and Diluted) |
7.77 |
5.48 |
19.17 |
Notes:
1. The Company sold 96,736 MT of Plastic goods and achieved net
product turnover of Rs. 12660.000 Million during the 3rd quarter of the current
year against sales of 81,183 MT and net product turnover of Rs. 1097 crores in
the corresponding quarter of previous year achieving volume & product value
growth of about 19% and 15%
respectively. The Company sold 2,67,961 MT of Plastic goods and achieved net
product turnover of INR 34370.000 million during 9 months period of the current
year against sales of 2,45,036 MT and net product turnover of Rs. 31340.000
million in the corresponding period of previous year achieving volume &
product value growth of about 9% and 10% respectively
2. Key standalone financial information
|
Particulars |
Quarter Ended |
Nine Months Ended |
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
|
Total Income |
12815.200 |
10653.000 |
35088.400 |
|
Net profit before tax and other comprehensive income |
1505.200 |
1062.600 |
3718.000 |
|
Total comprehensive
income |
982.100 |
690.600 |
2418.800 |
(a) In the standalone results, other income includes dividend received from Supreme Petrochem Limited of INR 130.200 Million (Previous year INR 28.900 million).
2(b) Pre GST, the Company was eligible for Industrial Promotion Assistance
Schemes (Schemes) from various state governments, mostly by way of refund of
Sales Tax. Post GST, pending notification from the respective state governments
for continuance of the schemes, on prudent basis the Company has not recognized
this benefit from 1st July' 2017 to 31st December' 2017. The Company
is hopeful of continuance of the Schemes and benefits accruing therefrom.
3.1 Segment Reporting
(INR In Million)
|
PARTICULARS |
Standalone |
||
|
Quarter Ended |
Nine Months Ended |
||
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
|
Segment Revenue |
|
|
|
|
Plastics Piping Products |
6664.500 |
5670.600 |
18984.100 |
|
Industrial Products |
1927.300 |
1852.000 |
5440.600 |
|
Packaging Products |
3191.900 |
2152.500 |
7731.600 |
|
Consumer Products |
913.400 |
842.300 |
2564.400 |
|
Others |
85.900 |
33.200 |
229.600 |
|
Net revenue from operations |
12783.000 |
10550.600 |
34950.300 |
|
Segment Results |
|
|
|
|
Plastics Piping Products |
678.000 |
503.500 |
1833.000 |
|
Industrial Products |
184.600 |
158.000 |
451.800 |
|
Packaging Products |
614.200 |
277.900 |
1252.900 |
|
Consumer Products |
120.800 |
114.500 |
330.200 |
|
Others |
(34.300) |
(26.400) |
(92.600) |
|
Total Segment
Profit before interest and tax |
1563.300 |
1027.500 |
3775.300 |
|
Less : Finance Cost |
78.600 |
51.500 |
163.300 |
|
Less : Other unallocable expenditure (net of other income) |
8.600 |
11.100 |
19.100 |
|
Profit before tax |
1476.100 |
964.900 |
3592.900 |
|
Less : Provision for Tax |
517.800 |
366.800 |
1283.400 |
|
Add : Other comprehensive income (net of tax) |
(5.300) |
(5.300) |
(15.800) |
|
Add : Share of profit of associates |
83.900 |
110.000 |
224.800 |
|
Profit after tax |
1036.900 |
702.800 |
2518.500 |
Business segments
Based on the "management approach" as defined in Ind-AS 108 - Operating Segments, the Managing Director/Decision Maker evaluates the Company's performance and allocates resources based on an analysis of various performance indicators by business segments. Accordingly, information has been presented along with these business segments. The accounting principles used in the preparation of the financial statements are consistently applied to record revenue and expenditure in individual segments.
3.2 Segment assets and liabilities
The Company is engaged mainly in production of plastic products. Most of the assets, liabilities and depreciation/amortisation of the aforesaid reportable segments are interchangeable or not practically allocable. Accordingly, segment assets, liabilities and depreciation/amortization have not been presented.
4. The Consolidated Results includes Results of (a) the Company's 100%
Subsidiary Company viz." The Supreme Industries Overseas (FZE)"
incorporated in SAIF Zone, UAE and (b) Associate Company viz."Supreme
Petrochem Limited", in which the Company holds 29.99% of its paid-up
equity share capital.
5 The previous period's figures have been re-grouped / re-classified wherever required to conform to current period's classification. All figures of financials has been rounded off to nearest lacs rupees.
The above financial results, which have been subjected to "Limited
Review" by the Auditors, have been reviewed by the Audit Committee and
approved by the Board of Directors at their meetings held on 30th January,
2018.
Fixed assets:
Tangible Assets
· Freehold Land
· Leasehold Land
· Buildings
· Plant, Machinery and Electrical Installations
· Moulds and Dies
· Furniture, Fixture and Office Equipments
· Vehicles (Owned and Under Finance Lease)
· Sundry Equipments
Intangible Assets
· Computer Software and License Fees
· Technical License / Know How
· Right to Use
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 65.04 |
|
UK Pound |
1 |
INR 92.28 |
|
Euro |
1 |
INR 80.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHA |
|
|
|
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.