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MIRA INFORM REPORT
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Report No. : |
507176 |
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Report Date : |
07.05.2018 |
IDENTIFICATION DETAILS
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Name : |
BOMBAY BURMAH TRADING CORPORATION LIMITED (w.e.f.
30.04.1864) |
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Formerly Known
As : |
BURMA TRADING COMPANY LIMITED |
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Registered
Office : |
9, Wallace Street, Fort, Mumbai-400001, Maharashtra |
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Tel. No.: |
91- 22-22079351-54 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
04.09.1863 |
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Com. Reg. No.: |
11-000002 |
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Capital
Investment / Paid-up Capital : |
INR 139.600 Million |
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CIN No.: [Company Identification
No.] |
L99999MH1863PLC000002 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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PAN No.: [Permanent Account No.] |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
The
Corporation’s business segments based on product lines are as under: ·
Plantation Producer and Trader of Tea, Coffee, Timber, Cardamom and Pepper. ·
Health
Care Manufacturer and Trader of Dental Products. ·
Auto
Electric Components Manufacturer of Solenoids, Switches, Valves, Slip Rings etc. for
Automobile and other industries. ·
Investments
Subject Invests in various Securities listed as well as unlisted
mainly on a long term basis. ·
Weighing
Products Manufacturer and Trader of Analytical, Precision Balances and Weighing
Scales. ·
Real
Estate Subject represents Property Development. (Registered Activity) |
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No. of Employees
: |
5607 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an old and established company incorporated in the year 1863 having a fine track record. The subject is a multi-product and multi-divisional organization with diverse business interests viz. Plantations (Tea and Coffee), Auto Electric Components, Healthcare, Real Estate and Weighing Products. For the financial year 2017, the company has achieved decent growth of 8.07% in its revenue on standalone basis as compared to its previous year along but has reported loss during the year. Rating takes into consideration, the healthy financial risk profile marked by strong net worth base and comfortable debt protection metrics. Rating continue to derive strength from its long, reputed and established track record of more than 150 years of its business operations backed by its well-experienced management team along with diversified portfolio. The company has its share price trading at around INR 1625.00 on BSE as on 2nd May 2018 as against its face value of INR 2. As per the 3rd quarter results of December 2017, the company has achieved revenue of 678.035 million and has clocked loss margin of approximately 1.23%. However, these rating strengths gets partially offset by continuous losses incurred due susceptibility of margins to volatile raw material prices and exposure to intense competition in industry. Payment seems to be regular. In view of aforesaid, the company can be considered for business dealing 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.
EXTERNAL AGENCY RATING
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Rating Agency Name |
INDIA RATINGS |
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Rating |
Working capital facilities : AA |
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Rating Explanation |
High degree of safety and very low credit risk |
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Date |
29.11.2017 |
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Rating Agency Name |
INDIA RATINGS |
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Rating |
Non-fund based limits : A1+ |
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Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
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Date |
29.11.2017 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
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 07.05.2018
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.: 91-22-22079351)
(Given Tel No.:
91-22-22049351 – Incorrect number)
LOCATIONS
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Registered/ Corporate Office/ Grievance Redressel Division : |
9, Wallace Street, Fort, Mumbai-400001, Maharashtra, India |
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Tel. No.: |
91- 22-22079351-54 |
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Fax No.: |
91-22-22071612 |
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E-Mail : |
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Website : |
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SOUTH INDIA ESTATES |
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Mudis Group Office |
Mudis P.O., Coimbatore District – 642117, Tamilnadu, India |
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Tel. No.: |
91-4253-234244 / 234245 |
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Fax No.: |
91-4253-234231 |
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E-Mail : |
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Marketing Office |
Subramaniam Road, Wellingdon Island,
Kochi – 682003, Kerala, India |
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Tel. No.: |
91-484-2666645/ 2666251 |
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Fax No.: |
91-484-2668321 |
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E-Mail : |
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WEIGHING PRODUCTS DIVISION |
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Factory : |
Plot No.304, New G.I.D.C., Gundlav, Valsad – 396034, Gujarat, India |
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Tel. No.: |
91-2632-36364/ 36684 |
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Fax No.: |
91-2632-36684 |
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Marketing Office : |
Plot No.2, Kanjur Village Road, Kanjur Marg (East), Mumbai – 400042,
Maharashtra, India |
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Tel. No.: |
91-22-25785651/ 25782852/ 25787529 |
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Fax No.: |
91-22-25784389 |
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E-Mail : |
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ELECTROMAGS:
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Factory 1 : |
342/343, 2nd Cross Street, Nehru Nagar, Kottivakkam,
Chennai-600096, Tamilnadu, India |
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Tel. No.: |
91-44-24540809/ 24540277 |
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Fax No.: |
91-44-24540336 |
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Factory 2/ (Marketing
Office) : |
Plot No.128-133, 3rd Cross Street. Nehru Nagar,
Kottivakkam, Chennai– 600041, Tamilnadu, India |
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Tel. No.: |
91-44-24540117/ 24541120 |
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Fax No.: |
91-44-24540580 |
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E-Mail : |
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Factory 3 : |
No: 6, Gerizim P.H Street, Seevaram, Chennai– 600096,
Tamilnadu, India |
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Tel. No.: |
91-44-24965302/ 24965304 |
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Fax No.: |
91-44-24963226 |
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DENTAL PRODUCTS OF
INDIA/ HEALTH CARE DIVISION |
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Factory : |
Plot No. 161-B, Village Danpur, Rudrapur Kashipur Road, Paragana-Rudrapur, Tehsil Kichha, Udhamsingh Nagar – 263153, Uttarakhand, India |
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Marketing Office : |
Commercial Union House, 9 Wallace Street, 3rd Floor, Fort, Mumbai – 400001, Maharashtra, India |
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AUTO ANCILLARY
DIVISION: |
Plot No. 128-133, 3rd Cross Street, Nehru Nagar, Kottivakkam, Chennai - 600041, Tamilnadu, India |
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TEA AND COFFEE ESTATES
: |
· Mudis Group of Estates, Mudis P.O., Coimbatore District-642117, Tamilnadu, India · Singampatti Group of Estates — Manjolai P.O., Tirunelveli District - 627420, Tamilnadu, India · Dunsandle Estate — Dunsandle P.O., Ootacamund, Nilgiri District– 643005, Tamilnadu, India · Elk Hill Group of Estates — Post Box No.12, Sidapur, P. and T.O, South Coorg– 571253, Karnataka, India · Usambara Group, Marvera and Herkulu Estates, P.O. Box 22, Soni, Tanzania |
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Malaysian Branch
Office : |
Suite 628, 6th
Floor, Pan Global Plaza, Jalan Wong Ah Fook 80000, Johor Bahru, Malaysia |
DIRECTORS
As on 31.03.2017
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Name : |
Ness Nusli Wadia |
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Designation : |
Managing Director |
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Address : |
Beach House, P. Balu Marg, Prabhadevi, Mumbai-400025, Maharashtra, India |
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Date of Appointment : |
28.04.2010 |
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DIN No.: |
00036049 |
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Name : |
Mr. Madhav Laxman Apte |
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Designation : |
Director |
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Address : |
24/B Woodlands Pedder Road, Mumbai-400026, Maharashtra, India |
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Date of Appointment : |
02.07.1985 |
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DIN No.: |
00003656 |
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Name : |
Darius Erachshaw Udwadia |
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Designation : |
Director |
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Address : |
Empress Court, 142, M-Karve Road, Mumbai-400020, Maharashtra, India |
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Date of Appointment : |
28.01.1986 |
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DIN No.: |
00009755 |
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Name : |
Mr. Rajesh Batra |
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Designation : |
Director |
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Address : |
9A Sunita, Ridge Road, Malabar Hills, Mumbai-400006, Maharashtra, India |
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Date of Appointment : |
30.03.2017 |
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DIN No.: |
00020764 |
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Name : |
Mr. Anilkumar Jewraj Hirjee |
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Designation : |
Director |
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Address : |
Flat No.9 Battery House, 74-A Bhulabhai Desia Road, Mumbai-400026, Maharashtra, India |
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Date of Appointment : |
01.10.1998 |
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DIN No.: |
00044765 |
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Name : |
Jehangir Nusli Wadia |
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Designation : |
Director |
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Address : |
Beach House, P Balu Marg, Prabhadevi, Mumbai-400025, Maharashtra, India |
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Date of Appointment : |
25.07.2001 |
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DIN No.: |
00088831 |
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Name : |
Minnie Bodhanwala |
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Designation : |
Director |
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Address : |
12, Jeevanjyot Society, Lalbaug Road, Vadodara-390004, Gujarat, India |
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Date of Appointment : |
30.03.2017 |
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DIN No.: |
00422067 |
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Name : |
Nusli Neville Wadia |
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Designation : |
Director |
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Address : |
Beach House P. Balu Marg, Prabhadevi, Mumbai-400025, Maharashtra, India |
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Date of Appointment : |
28.10.1980 |
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DIN No.: |
00015731 |
KEY EXECUTIVES
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Name : |
Mr. Nitin Hariyantlal Datanwala |
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Designation : |
Company Secretary |
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Address : |
6-B Cosmopolis 21 L D Ruparel Marg Near Hyderabad Estate Malabar Hill, Mumbai-400006, Maharashtra, India |
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Date of Appointment : |
03.10.2006 |
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PAN No.: |
AACPD5729K |
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Name : |
Mr. Amit Chhabra |
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Designation : |
Chief Financial Officer |
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Address : |
20/35, West Patel Nagar, New Delhi-110008, India |
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Date of Appointment : |
08.02.2016 |
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PAN No.: |
AEQPC8357Q |
MAJOR SHAREHOLDERS
As on March, 2018
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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 % |
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(A) Promoter & Promoter
Group |
45985745 |
65.91 |
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(B) Public |
23786155 |
34.09 |
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Grand Total |
69771900 |
100.00 |
Statement showing shareholding pattern of the Promoter and
Promoter Group
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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 |
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A1) Indian |
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Individuals/Hindu
undivided Family |
17000 |
0.02 |
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NESS NUSLI WADIA |
5000 |
0.01 |
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JEHANGIR NUSLI WADIA |
3500 |
0.01 |
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MAUREEN NUSLI WADIA |
8500 |
0.01 |
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Any
Other (specify) |
39122240 |
56.07 |
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GO INVESTMENTS AND TRADING
PRIVATE LIMITED |
112625 |
0.16 |
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N N WADIA ADMIN OF ESTATE OF
LT EF DINSHAW |
132690 |
0.19 |
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N W EXPORTS LIMITED |
500000 |
0.72 |
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NAPEROL INVESTMENTS LIMITED |
4208400 |
6.03 |
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NATIONAL PEROXIDE LIMITED |
1252200 |
1.79 |
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NESSVILLE TRADING PVT LTD |
17500 |
0.03 |
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NOWROSJEE WADIA AND SONS
LIMITED |
20852927 |
29.89 |
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SUNFLOWER INVESTMENTS AND
TEXTILES PRIVATE LIMITED |
2000298 |
2.87 |
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THE BOMBAY DYEING AND
MANUFACTURING COMPANY LIMITED |
7538600 |
10.80 |
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VARNILAM INVESTMENTS &
TRADING COMPANY LIMITED |
34500 |
0.05 |
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WADIA INVESTMENTS LIMITED |
2472500 |
3.54 |
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Sub
Total A1 |
39139240 |
56.10 |
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A2) Foreign |
0.00 |
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Individuals
(NonResident Individuals/ Foreign Individuals) |
6846505 |
9.81 |
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NUSLI NEVILLE WADIA |
6846505 |
9.81 |
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Sub
Total A2 |
6846505 |
9.81 |
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A=A1+A2 |
45985745 |
65.91 |
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 |
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B1)
Institutions |
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Mutual
Funds/ |
1223285 |
1.75 |
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RELIANCE CAPITAL TRUSTEE CO
LTD A/C-RELIANCE REGULAR SAVINGS FUND-EQUITY OPTION |
962229 |
1.38 |
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Foreign
Portfolio Investors |
3379712 |
4.84 |
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Financial
Institutions/ Banks |
127764 |
0.18 |
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Insurance
Companies |
343679 |
0.49 |
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Sub
Total B1 |
5074440 |
7.27 |
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B2)
Central Government/ State Government(s)/ President of India |
0 |
0.00 |
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B3)
Non-Institutions |
0 |
0.00 |
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Individual
share capital upto INR 0.200 Million |
9894505 |
14.18 |
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Individual
share capital in excess of INR 0.200 Million |
443590 |
0.64 |
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NBFCs
registered with RBI |
2655 |
0.00 |
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Any
Other (specify) |
8370965 |
12.00 |
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Bodies Corporate |
1228483 |
1.76 |
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Non-Resident Indian (NRI) |
636647 |
0.91 |
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WALLACE BROTHERS TRADING &
INDUSTRIAL Limited |
5660700 |
8.11 |
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Clearing Members |
133840 |
0.19 |
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FOREIGN BANKS |
100 |
0.00 |
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Foreign Nationals |
70000 |
0.10 |
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IEPF |
604650 |
0.87 |
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Trusts |
36545 |
0.05 |
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Sub
Total B3 |
18711715 |
26.82 |
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B=B1+B2+B3 |
23786155 |
34.09 |
BUSINESS DETAILS
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Line of Business : |
The
Corporation’s business segments based on product lines are as under: ·
Plantation Producer and Trader of Tea, Coffee, Timber, Cardamom and Pepper. ·
Health
Care Manufacturer and Trader of Dental Products. ·
Auto
Electric Components Manufacturer of Solenoids, Switches, Valves, Slip Rings etc. for
Automobile and other industries. ·
Investments
Subject Invests in various Securities listed as well as unlisted
mainly on a long term basis. ·
Weighing
Products Manufacturer and Trader of Analytical, Precision Balances and Weighing
Scales. ·
Real
Estate Subject represents Property Development. (Registered Activity) |
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Products / Services
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
5607 (Approximately) |
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Bankers/ Financial Institution : |
· The Federal Bank Limited, C9, Laxmi Towers, Bandra Kurla Complex, Mumbai-400051, Maharashtra, India ·
HDFC Bank Limited · Axis Bank Limited · Kotak Mahindra Bank Limited · The Hongkong and Shanghai Banking Corporation Limited ·
ICICI Prudential Mutual Fund |
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Facilities : |
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Auditors : |
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Name : |
B S R & CO., LLP Chartered Accountants |
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Address : |
5th Floor, Apollo Mills Compound, N. M. Joshi Marg,
Mahalakshmi, Mumbai 400 011, Maharashtra, India |
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Solicitors |
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Name : |
Crawford Bayley and Company |
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Address : |
State Bank Building, 4th Floor, Hutatma Chowk, Fountain,
Mumbai 400 001. |
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Name : |
Udwadia and Company
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Address : |
Elphinstone House, 1st Floor, 17, Murzban Road, Fort,
Mumbai 400 001 |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiaries : |
·
Afco Industrial Chemicals Limited ·
DPI Products and Services Limited ·
Sea Wind Investments and Trading Company Limited ·
Leila Lands Senderian Berhad |
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Subsidiary of DPI
Products & Services Limited : |
·
Subham Viniyog Private Limited |
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Subsidiaries of
Leila Isands Senderian Berhad : |
· Naira Holdings Limited · Island Horti-Tech Holdings Pte. Limited · Leila Lands Limited · Restpoint Investments Limited · Baymanco Investments Limited |
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Subsidiaries of
Island Horti-Tech Holdings Pte. Limited : |
· Island Landscape and Nursery Pte. Limited · Innovative Organics Inc. |
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Subsidiaries and
sub subsidiaries of Leila Islands Limited: |
· ABI Holding Limited · Britannia Brands Limited · Associated Biscuits International Limited · Dowbiggin Enterprises Pte. Limited · Nacupa Enterprises Pte. Limited · Spargo Enterprises Pte. Limited · Valletort Enterprises Pte. Limited · Bannatyne Enterprises Pte. Limited · Britannia Industries Limited |
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Subsidiaries of
Britannia Industries Limited: |
· Boribunder Finance and Investments Private Limited · Flora Investments Company Private Limited · Gilt Edge Finance and Investments Private Limited · Ganges Valley Foods Private Limited · International Bakery Products Limited · J. B. Mangharam Foods Private Limited · Manna Foods Private Limited Sunrise · Biscuit Company Private Limited · Britannia and Associates (Mauritius) Private Limited · Britannia and Associates (Dubai) Private Company Limited · Al Sallan Food Industries Company · Strategic Brands Holding Company Limited · Daily Bread Gourmet Foods (India) Private Limited · Britannia Dairy Private Limited · Britannia Dairy Holdings Private Limited · Britannia Employees General Welfare Association Private Limited · Britannia Employees Medical Welfare Association Private Limited · Britannia Employees Educational Welfare Association Private Limited · Britchip Foods Limited |
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Subsidiary of
Innovative Organics Inc. : |
· Granum Inc. |
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Associate
Companies: |
· Lotus Viniyog Private Limited · Lima Investment and Trading Private Limited · Roshnara Investment and Trading Private Limited · Cincinnati Investment and Trading Private Limited · Shadhak Investment and Trading Private Limited · MSIL Investment and Private Limited · Medical Microtechnology Limited · Harvard Plantations Limited · Placid Plantations Limited · The Bombay Dyeing and Manufacturing Company Limited (w.e.f. 20th March 2017) |
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·
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Other related
parties : |
· Go Airlines (India) Limited · Macrofil Investments Limited · The Bombay Dyeing and Manufacturing Company Limited · Archway Investment Company Limited · Udwadia and Company |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000000 |
Equity Shares |
INR 2/- each |
INR 150.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
69771900 |
Equity Shares |
INR 2/- each |
INR 139.500 Million |
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Forfeited share amount paid up |
|
INR 0.100 Million |
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Total |
|
INR 139.600
Million |
Reconciliation of the
shares outstanding at the beginning and at the end of reporting year.
|
Equity shares |
31st March, 2017 |
|
No. of shares |
|
|
Outstanding at the beginning of the year |
69771900 |
|
Equity share issued during the year |
-- |
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Outstanding at the end of the year |
69771900 |
Details of shares
held by each shareholder holding more than 5% shares:
|
Name of
Shareholders |
31st March, 2017 |
|
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No. of shares |
% holding |
|
|
Archway Investment Company Limited |
8719290 |
12.50 |
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N. W. Exports Limited |
12317275 |
17.65 |
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Sunflower Investments & Textiles Private Limited. |
8395430 |
12.03 |
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Naperol Investments Limited |
4208400 |
6.03 |
|
Nusli Neville Wadia |
6141505 |
8.81 |
|
Wallace Brothers Trading and Industrial Limited, United Kingdom |
5660700 |
8.11 |
|
Total |
45442600 |
65.13 |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES
OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
139.600 |
139.600 |
139.627 |
|
(b) Reserves & Surplus |
3131.700 |
2605.400 |
2439.865 |
|
(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) |
3271.300 |
2745.000 |
2579.492 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
605.200 |
846.800 |
988.524 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
5.100 |
3.400 |
4.613 |
|
(d) long-term provisions |
15.400 |
13.400 |
0.216 |
|
Total
Non-current Liabilities (3) |
625.700 |
863.600 |
993.353 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2449.600 |
2168.700 |
1927.346 |
|
(b) Trade payables |
234.700 |
258.100 |
263.340 |
|
(c) Other current liabilities |
9.300 |
26.000 |
821.833 |
|
(d) Short-term provisions |
483.900 |
439.700 |
150.541 |
|
Total
Current Liabilities (4) |
3177.500 |
2892.500 |
3163.060 |
|
|
|
|
|
|
TOTAL |
7074.500 |
6501.100 |
6735.905 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1131.100 |
1158.000 |
1109.433 |
|
(ii) Intangible Assets |
5.700 |
5.900 |
2.648 |
|
(iii) Capital work-in-progress |
31.400 |
7.600 |
9.247 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
31.400 |
1426.100 |
1654.580 |
|
(c) Deferred tax assets (net) |
41.500 |
41.500 |
10.481 |
|
(d) Long-term Loan and Advances |
9.500 |
9.600 |
806.625 |
|
(e) Other Non-current assets |
2843.900 |
757.600 |
3.001 |
|
Total
Non-Current Assets |
4094.500 |
3406.300 |
3596.015 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
131.400 |
0.000 |
0.000 |
|
(b) Inventories |
607.900 |
926.200 |
989.907 |
|
(c) Trade receivables |
351.900 |
432.800 |
490.300 |
|
(d) Cash and cash equivalents |
283.000 |
61.000 |
542.868 |
|
(e) Short-term loans and
advances |
1445.100 |
1542.000 |
922.427 |
|
(f) Other current assets |
160.700 |
132.800 |
194.388 |
|
Total
Current Assets |
2980.000 |
3094.800 |
3139.890 |
|
|
|
|
|
|
TOTAL |
7074.500 |
6501.100 |
6735.905 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
2604.300 |
2409.800 |
2406.457 |
|
|
Other Income |
493.600 |
267.700 |
355.765 |
|
|
TOTAL
|
3097.900 |
2677.500 |
2762.222 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
805.300 |
793.700 |
780.460 |
|
|
Cost relating to Real estate
under development |
4.300 |
8.300 |
9.070 |
|
|
Purchases of Stock-in-Trade |
33.300 |
162.400 |
147.163 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
332.900 |
55.500 |
(107.755) |
|
|
Employees benefits expense |
758.300 |
772.000 |
725.867 |
|
|
Other expenses |
779.700 |
807.600 |
769.019 |
|
|
TOTAL |
2713.800 |
2599.500 |
2323.824 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
384.100 |
78.000 |
438.398 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
336.800 |
313.900 |
269.445 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
47.300 |
(235.900) |
168.953) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
82.900 |
85.700 |
68.684 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(35.600) |
(321.600) |
100.269 |
|
|
|
|
|
|
|
Less |
TAX |
(3.600 |
5.500 |
29.975 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(32.000) |
(327.100) |
70.294 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
(0.46) |
(4.69) |
1.01 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
295.300 |
292.200 |
705.925 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operating activity |
446.900 |
69.200 |
(151.220) |
QUARTERLY
RESULTS
|
Particulars |
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
31.12.2017 (Unaudited) |
|
|
1st Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
541.120 |
554.490 |
499.100 |
|
Total Expenditure |
503.410 |
643.160 |
589.750 |
|
PBIDT (Excl OI) |
37.710 |
(88.670) |
(90.650) |
|
Other Income |
57.510 |
56.030 |
178.930 |
|
Operating Profit |
95.210 |
(32.640) |
88.290 |
|
Interest |
95.250 |
61.690 |
77.240 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
(0.040 |
(94.330 |
11.050 |
|
Depreciation |
16.900 |
15.950 |
18.010 |
|
Profit Before Tax |
(16.940) |
(110.280) |
(6.960) |
|
Tax |
NA |
NA |
NA |
|
Provisions and
contingencies |
NA |
NA |
NA |
|
Profit After Tax |
(16.940) |
(110.280) |
(6.960) |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
(16.940) |
(110.280) |
(6.960) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
49.32 |
65.55 |
74.37 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
7.40 |
5.57 |
4.91 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
102.15 |
98.53 |
103.62 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.63 |
0.08 |
0.44 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.33 |
0.07 |
0.39 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.58 |
0.62 |
0.72 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.02 |
1.20 |
1.40 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.97 |
1.05 |
1.23 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.36 |
0.43 |
0.43 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.14 |
0.25 |
1.63 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(1.23) |
(13.57) |
2.92 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(0.45) |
(5.03) |
1.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(0.98) |
(11.92) |
2.73 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.94 |
1.07 |
0.99 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.75 |
0.75 |
0.68 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.46 |
0.42 |
0.38 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
24.00 |
23.69 |
25.94 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.94 |
1.07 |
0.99 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK PRICES
|
Face Value |
INR 2/- |
|
Market Value |
INR 1625.00/- |
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 |
139.627 |
139.600 |
139.600 |
|
Reserves & Surplus |
2439.865 |
2605.400 |
3131.700 |
|
Net
worth |
2579.492 |
2745.000 |
3271.300 |
|
|
|
|
|
|
long-term borrowings |
988.524 |
846.800 |
605.200 |
|
Short term borrowings |
1927.346 |
2168.700 |
2449.600 |
|
Current maturities of
long-term debts |
705.925 |
292.200 |
295.300 |
|
Total
borrowings |
3621.795 |
3307.700 |
3350.100 |
|
Debt/Equity
ratio |
1.404 |
1.205 |
1.024 |
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 |
2406.457 |
2409.800 |
2604.300 |
|
|
|
0.139 |
8.071 |
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 |
2406.457 |
2409.800 |
2604.300 |
|
Profit/ (Loss) |
70.294 |
(327.100) |
(32.000) |
|
|
2.92% |
(13.57%) |
(1.23%) |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES
OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
139.600 |
139.600 |
|
(b) Reserves & Surplus |
|
23200.900 |
18994.400 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
14273.600 |
10670.400 |
|
Total
Shareholders’ Funds (1) + (2) |
|
37614.100 |
29804.400 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
5874.300 |
3062.400 |
|
(b) Deferred tax liabilities
(Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
277.000 |
228.200 |
|
(d) long-term provisions |
|
94.900 |
40.800 |
|
(e) Government Grant |
|
22.700 |
40.800 |
|
Total
Non-current Liabilities (3) |
|
6268.900 |
3372.200 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
3878.100 |
4497.500 |
|
(b) Trade payables |
|
7899.100 |
8175.900 |
|
(c) Other current liabilities |
|
3694.500 |
3630.500 |
|
(d) Short-term provisions |
|
1945.500 |
1944.600 |
|
(e) Government Grant |
|
19.600 |
21.600 |
|
Total
Current Liabilities (4) |
|
17436.800 |
18270.100 |
|
|
|
|
|
|
TOTAL |
|
61319.800 |
51446.700 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
11275.500 |
9503.900 |
|
(ii) Intangible Assets |
|
280.600 |
141.900 |
|
(iii) Capital work-in-progress |
|
332.100 |
908.300 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(v) Goodwill |
|
10617.200 |
10250.000 |
|
(b) Non-current Investments |
|
8492.000 |
5298.400 |
|
(c) Deferred tax assets (net) |
|
22.700 |
226.400 |
|
(d) Long-term Loan and Advances |
|
482.500 |
2050.900 |
|
(e) Other Non-current assets |
|
2109.500 |
1139.700 |
|
Total
Non-Current Assets |
|
33612.100 |
29519.500 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
2562.400 |
5408.600 |
|
(b) Inventories |
|
7338.900 |
5465.100 |
|
(c) Trade receivables |
|
2307.400 |
2318.100 |
|
(d) Cash and cash equivalents |
|
2224.200 |
1354.100 |
|
(e) Short-term loans and
advances |
|
9122.200 |
5503.900 |
|
(f) Other current assets |
|
4129.700 |
1861.500 |
|
(g) Biological Assets other
than bearer plants |
|
22.900 |
15.900 |
|
Total
Current Assets |
|
27707.700 |
21927.200 |
|
|
|
|
|
|
TOTAL |
|
61319.800 |
51446.700 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
94341.200 |
87618.000 |
|
|
Other Income |
|
1951.500 |
1603.800 |
|
|
TOTAL
|
|
96292.700 |
89221.800 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
49156.500 |
44320.900 |
|
|
Cost relating to Real estate
under development |
|
19493.500 |
19316.500 |
|
|
Purchases of Stock-in-Trade |
|
8408.000 |
7399.600 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(0.800) |
(18.000) |
|
|
Employees benefits expense |
|
4671.400 |
4553.000 |
|
|
Other expenses |
|
4.300 |
8.300 |
|
|
Share of Profit/ (Loss) from
Associates |
|
(2.500) |
(2.200) |
|
|
TOTAL |
|
81730.400 |
75578.100 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
14562.300 |
13643.700 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
434.200 |
439.500 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
14128.100 |
13204.200 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
|
1308.400 |
1258.700 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
12819.700 |
11945.500 |
|
|
|
|
|
|
|
Less |
TAX |
|
4235.100 |
4025.700 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
8584.600 |
7919.800 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
62.00 |
55.00 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of establishment |
Yes |
|
2] |
Constitution of the entity Incorporation
details |
Yes |
|
3] |
Locality of the entity |
Yes |
|
4] |
Premises details |
No |
|
5] |
Buyer visit details |
-- |
|
6] |
Contact numbers |
Yes |
|
7] |
Name of the person contacted |
No |
|
8] |
Designation of contact person |
No |
|
9] |
Promoter’s background |
Yes |
|
10] |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
11] |
Pan Card No. of Proprietor / Partners |
No |
|
12] |
Voter Id Card No. of Proprietor / Partners |
No |
|
13] |
Type of business |
Yes |
|
14] |
Line of Business |
Yes |
|
15] |
Export/import details (if applicable) |
No |
|
16] |
No. of employees |
No |
|
17] |
Details of sister concerns |
Yes |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
Yes |
|
21] |
Banking facility details |
Yes |
|
22] |
Conduct of the banking account |
-- |
|
23] |
Financials, if provided |
Yes |
|
24] |
Capital in the business |
Yes |
|
25] |
Last accounts filed at ROC, if applicable |
Yes |
|
26] |
Turnover of firm for last three years |
Yes |
|
27] |
Reasons for variation <> 20% |
-- |
|
28] |
Estimation for coming financial year |
No |
|
29] |
Profitability for last three years |
Yes |
|
30] |
Major shareholders, if available |
Yes |
|
31] |
External Agency Rating, if available |
Yes |
|
32] |
Litigations that the firm/promoter
involved in |
-- |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION
The company having registered office at 9, Wallace Street, Fort, Mumbai-400001 was incorporated on September 4, 1863 vide certificate of Incorporation No. L99999MH1863PLC000002 issued by the Registrar of companies, Mumbai, Maharashtra.
The company is Multi-product and multi-divisional organisation with diverse business interests viz. Plantations (Tea and Coffee), Auto Electric Components, Healthcare, Real Estate and Weighing Products.
OPERATION
The Corporation achieved a gross income of INR 3185.300 Million compared to INR 2755.900 Million for 2015-16. This includes income of INR 247.000 Million on account of profit on sale of asset/shares. The gross income of INR 2938.300 Million at operating level excluding the said profit was higher compared to INR 2755.900 Million for previous year representing a growth of 6% over the previous year.
The overall performance has shown improvement over the previous year as the loss for the year excluding the profit on sale of assets/shares amounted to INR 282.600 Million compared to INR 321.600 Million for the previous year. Number of steps were taken to reduce losses by closing down uneconomical Bought Leaf operations for tea and Bought Beans operations for Coffee at plantations division.
Despite lower production of tea and coffee and lower bought leaf/beans operations higher wage costs and unfavourable weather conditions the overall losses at plantation division were brought down substantially compared to previous year.
Health care and Electromags division registered a marginal increase in turnover but reported marginally lower profits. However both these divisions continued to perform satisfactorily.
The current financial year also witnessed the transition from IGAAP to IND AS. The Corporation is required to prepare the Financial Statements as per IND AS. As a result the total comprehensive income amounted to INR 610.300 Million as against negative comprehensive income of INR 804.400 Million for previous year. The substantial increase in the comprehensive income for the year was primarily due to changes in fair value of investment of equityshares.
The Corporation INR loss for the year excluding the other comprehensive income was substantially lower at INR 32.000 Million as compared to the loss of INR 327.100 Million for the previous year.
Division wise
performance:
(i) Tea:
Production of own Tea was 48 lakh kgs against 45 lakh kgs of the previous year. Overall production of tea including bought leaf was lower at 64 lakh kgs compared to 74 lakh kg sin the previous year. Average selling price per kg of tea was higher at INR 121 per Kg compared to Rs 110 per kg in the previous year
(ii) Coffee:
Own coffee production for the year was at 667 tons compared to 625 tons in the previous year. There was no production of coffee from outsourced beans as against 981 tons in previous year. The sales turnover for the year at 2467 tons was substantially higher compared to 975 tons in the previous year following the liquidation of high inventories ofcoffee in the previous year. Average selling prices were marginally lower at Rs 1.60 lakhs per ton compared to 1.86 lakh per ton in the previous year.
(iii) Electromags
The turnover for the year was marginally higher at INR 1093.800 Million compared to INR 1066.400 Million in the previous year. However the results were marginally impacted due to higher input cost and pressure on selling prices and effects of demonetization and downward trend in the diesel car segment.
(iv) Health Care
Dental product business under healthcare division performed satisfactorily and reported marginally higher turnover of INR 254.100 Million compared to INR 239.600 Million in the previous year.
UNSECURED LOAN
|
PARTICULAR |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Short-term borrowings |
|
|
|
Loans repayable on demand from banks |
580.400 |
650.000 |
|
Loans repayable on demand from other parties |
130.000 |
0.000 |
|
Loans and advances from related parties |
400.000 |
400.000 |
|
Commercial Paper |
1000.000 |
0.000 |
|
Total |
2110.400 |
1050.000 |
INDEX
OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G49294259 |
100111684 |
IDBI TRUSTEESHIP SERVICES LIMITED |
20/07/2017 |
21/07/2017 |
- |
1500000000.0 |
Asian Building17 R Kamani MargMumbaiMH400001IN |
|
2 |
C62559398 |
10587983 |
KOTAK MAHINDRA BANK LIMITED |
04/08/2015 |
- |
- |
500000000.0 |
27BKC, C 27, G BlockBandra Kurla Complex, Bandra (E),MumbaiMH400051IN |
|
3 |
C56443997 |
10574938 |
The Hongkong and Shanghai Banking Corporation Limited |
23/05/2015 |
- |
- |
400000000.0 |
52/60 Mahatama Gandhi MargFortMumbaiMH400001IN |
|
4 |
G82121096 |
10520838 |
THE FEDERAL BANK LIMITED |
23/08/2014 |
03/03/2018 |
- |
380000000.0 |
C9, LAXMI TOWERSBANDRA KURLA COMPLEXMUMBAIMH400051IN |
|
5 |
C17214925 |
10515864 |
KOTAK MAHINDRA BANK LIMITED |
14/08/2014 |
- |
- |
480000000.0 |
27BKC, C 27, G BlockBandra Kurla Complex, Bandra (E),MumbaiMH400051IN |
|
6 |
B34171942 |
10242059 |
Axis Bank Limited |
24/07/2010 |
25/02/2012 |
- |
1000000000.0 |
Axis House, Bombay Dyeing Mills compound,P. B. Marg, Worli,MumbaiMH400025IN |
|
7 |
A97562474 |
10031082 |
Axis Bank Limited |
14/12/2006 |
12/10/2010 |
- |
397500000.0 |
Credit Management Centre, Unit-6,Corporate Park, ChemburMumbaiMH400071IN |
|
8 |
B34279620 |
90226441 |
Axis Bank Limited |
31/07/2003 |
25/02/2012 |
- |
560000000.0 |
Axis House, Bombay Dyeing Mills Compound,P. B. Marg, WorliMumbaiMH400025IN |
|
9 |
B34241356 |
90223464 |
Axis Bank Limited |
31/07/2003 |
25/02/2012 |
- |
560000000.0 |
Axis House, Bombay Dyeing Mills Compound,P.B. Marg, WorliMumbaiMH400025IN |
|
10 |
Y10326202 |
90223411 |
HDFC BANK |
03/01/2003 |
- |
- |
300000000.0 |
KAMLA MILLS CCOMPOUNDSENAPATI BAPAT MARGMUMBAIMH400013IN |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Disputed demands (net of deposit) of Central Excise
Department not provided for in respect of : |
|
|
|
Plantations Division |
14.800 |
3.400 |
|
Plantations Division |
355.300 |
355.300 |
|
Total |
370.100 |
358.700 |
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE
MONTHS ENDED 31.12.2017
|
PARTICULARS |
Quarter
Ended |
Nine Months |
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
[Unaudited] |
[Unaudited] |
[Unaudited] |
|
1. Income from Operations |
|
|
|
|
Net Sales/income from
operations |
492.843 |
523.642 |
1544.183 |
|
Other Operating Income |
6.265 |
30.849 |
50.531 |
|
Other Income |
178.927 |
56.027 |
307.179 |
|
Total income from operations (net) |
678.035 |
610.518 |
1901.893 |
|
|
|
|
|
|
Expenses |
|
|
|
|
Cost of materials consumed |
207.828 |
173.789 |
541.067 |
|
Purchases of stock-in trade |
9.377 |
6.025 |
29.566 |
|
Changes in inventories of finished goods. work-in-progress
and stock in trade |
(6.775) |
89.675 |
35.436 |
|
Employee benefits expense |
202.051 |
202.292 |
564.375 |
|
Depreciation and Amortization Expenses |
18.011 |
15.948 |
50.861 |
|
Other Expenses |
177.266 |
171.379 |
562.701 |
|
Finance Costs |
77.241 |
61.689 |
234.177 |
|
Excise Duty |
0.000 |
0.000 |
17.890 |
|
Total expenses |
684.999 |
720.797 |
2036.073 |
|
Profit/ (Loss) from ordinary activities before tax |
(6.964) |
(110.279) |
(134.180) |
|
Tax expenses |
|
|
|
|
Net Profit / (Loss) for the period |
(6.964) |
(110.279) |
(134.180) |
|
|
|
|
|
|
Other
Comprehensive income (net of tax) |
(0.273) |
0.607 |
0.894 |
|
A.
Items that will be reclassified to profit or loss |
(0.615) |
(0.782) |
(2.125) |
|
Changes
in fair value of investment in equity shares |
0.085 |
(0.032) |
0.075 |
|
Actuarial
gains/ losses |
(0.700) |
(0.750) |
(2.200) |
|
B.
Items that will be reclassified to profit or loss |
|
|
|
|
Changes
in foreign currency translation reserve |
0.342 |
1.389 |
3.019 |
|
|
|
|
|
|
Paid up equity share capital (Face Value of INR 2/-each) |
|
|
|
|
Reserve excluding Revaluation Reserve as per Balance Sheet
of previous accounting year |
|
|
|
|
Earnings per share (before extraordinary items) of INR 2/-
each (not annualized): |
|
|
|
|
(a) Basic |
(0.10) |
(1.58) |
(1.92) |
|
(b) Diluted |
(0.10) |
(1.58) |
(1.92) |
SEGMENT-WISE REVENUE,
RESULTS AND CAPITAL EMPLOYED
|
|
PARTICULAR |
Quarter
Ended |
Nine Months |
|
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
|
[Unaudited] |
[Unaudited] |
[Unaudited] |
|
1. |
Segment Revenue: |
|
|
|
|
|
a)
Plantations (Tea) |
171.083 |
212.300 |
591.901 |
|
|
b)
Plantations (Coffee) |
24.935 |
23.434 |
117.844 |
|
|
c) Auto
Electrical Components |
245.908 |
248.969 |
721.488 |
|
|
d)
Investments |
38.130 |
60.198 |
136.039 |
|
|
e)
Healthcare |
60.740 |
57.579 |
179.387 |
|
|
f) Others |
0.089 |
0.003 |
2.124 |
|
|
g)
Unallocated |
137.150 |
8.035 |
153.110 |
|
|
Total |
678.035 |
610.518 |
1901.893 |
|
|
Less:
inter Segment Revenue |
-- |
-- |
-- |
|
|
Net Sales
/ Income from Operations |
678.035 |
610.518 |
1901.893 |
|
2. |
Segment Results: |
|
|
|
|
|
a)
Plantations (Tea) |
(70.678) |
(90.232) |
(118.869) |
|
|
b)
Plantations (Coffee) |
(2.806) |
(6.806) |
2.711 |
|
|
c) Auto
Electrical Components |
12.972 |
23.904 |
51.021 |
|
|
d)
Investments |
38.130 |
60.198 |
136.039 |
|
|
e)
Healthcare |
7.016 |
8.582 |
25.124 |
|
|
f) Others |
(1.285) |
(2.330) |
(2.946) |
|
|
g)
Unallocated |
86.928 |
(41.906) |
6.917 |
|
|
Total |
70.277 |
(48.590) |
99.997 |
|
|
Less :i)
Interest |
(77.241) |
(61.689) |
(234.177) |
|
|
Total
Profit before Tax |
(6.964) |
(110.279) |
134.180 |
|
|
|
|
|
|
|
3. |
Segment Assets |
|
|
|
|
|
a)
Plantations (Tea) |
777.924 |
795.478 |
777.924 |
|
|
b)
Plantations (Coffee) |
499.234 |
487.376 |
499.234 |
|
|
c) Auto
Electrical Components |
732.112 |
757.461 |
732.112 |
|
|
d)
Investments |
4101.554 |
4101.377 |
4101.554 |
|
|
e)
Healthcare |
163.964 |
154.685 |
163.964 |
|
|
f) Others |
301.713 |
303.124 |
301.713 |
|
|
g)
Unallocated |
403.781 |
527.319 |
403.781 |
|
|
Total Segment
Assets |
6980.282 |
7126.820 |
6980.282 |
|
|
|
|
|
|
|
4. |
Segment
Liabilities |
|
|
|
|
|
a) Plantations (Tea) |
138.716 |
139.173 |
138.716 |
|
|
b) Plantations (Coffee) |
23.240 |
22.937 |
23.240 |
|
|
c) Auto Electrical Components |
174.176 |
214.757 |
174.176 |
|
|
d) Investments |
0.000 |
0.000 |
0.000 |
|
|
e) Healthcare |
46.318 |
39.567 |
46.318 |
|
|
f) Others |
0.942 |
1.879 |
0.942 |
|
|
g) Unallocated |
3542.881 |
3647.250 |
3542.881 |
|
|
Total Segment
Liabilities |
3926.273 |
4065.563 |
3926.273 |
|
|
|
|
|
|
|
4. |
Capital
Employed: (Segment
Assets - Segment Liabilities) |
|
|
|
|
|
a) Plantations (Tea) |
639.208 |
656.305 |
639.208 |
|
|
b) Plantations (Coffee) |
457.994 |
464.439 |
457.994 |
|
|
c) Auto Electrical Components |
557.936 |
542.704 |
557.936 |
|
|
d) Investments |
4101.554 |
4122.590 |
4101.554 |
|
|
e) Healthcare |
117.646 |
115.118 |
117.646 |
|
|
f) Others |
300.771 |
301.245 |
300.771 |
|
|
g) Unallocated |
(3139.100) |
(3141.144) |
(3139.100) |
|
|
Total Capital Employed |
3036.009 |
3061.257 |
3036.009 |
Notes:
1. The above financial results have been reviewed by the Audit Committee and having been recommended by it to the Board for approval, were approved by the Board at its meeting held on 13th February, 2018. The Statutory Auditor's have expressed an unqualified review opinion.
2. Out of the expenditure of INR 112.796 Million (Previous period INR 107.321
Million) incurred during the nine months ended 31 December 2017 at coffee
estates, an amount of INR 93.346 Million (Previous period INR 100.576 Million)
has been charged to the Statement of Profit & Loss for the quarter ended 31
December 2017, balance has been carried forward and will be accounted against
the coffee crop of the next quarter.
3. The Company during the financial year 2015-16 had paid remuneration to
Managing Director INR 29.000 Million (excluding retirals of INR 5.900 Million)
which was in excess of limits specified in Schedule V of the Companies Act,
2013. The Central Government vide its letter dated 13 September 2017 has
approved increased remuneration payable to the said Managing Director for the
financial year 2015-16 up to INR 25.100 Million.
The Company vide its letter dated 3rd November 2017 has represented to the
Central Government for payment of total remuneration of INR 29.000 Million;
response to which is awaited. Adjustments, if any, will be accounted after
disposal of Company's representation.
4. Although there has been no increase in remuneration paid to the Managing
Director Mr. Ness Wadia for the financial year 2016-17 in view of inadequacy of
profits, the Company has made application to the Central Government for
approval to the payment of INR 29.000 Million (excluding retirals of INR 5.900
Million) as it is in excess of the limits proscribed by Schedule V of the
Companies Act, 2013. Its approval is awaited.
5. Effective 1st July, 2017, sales are recorded net of GST whereas earlier
sales were recorded gross of excise duty which formed part of expenses. Hence,
revenue from operations for the three months and nine months ended 31st
December, 2017 is not comparable with corresponding figures of previous period.
6. Other Income for the quarter and nine months ended 31 December 2017 includes
Profit from Sale of property amounting to INR 131.254 Million (Previous period
INR 140.696 Million).
7. The figures for the previous period have been regrouped wherever necessary.
8. The secured listed non-convertible redeemable debentures of the Company
aggregating to INR 1500.000 Million as at 31st December, 2017 are secured by
way of first mortgage / charge on the Company's certain properties and the
asset cover thereof exceeds hundred percent of the principal amount of the said
debentures.
FIXED ASSETS
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
· Leasehold Improvements
·
Air Conditioner
· Electrical Installation
· Leasehold Land
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 66.77 |
|
UK Pound |
1 |
INR 90.58 |
|
Euro |
1 |
INR 79.97 |
INFORMATION DETAILS
|
Information
Gathered by : |
ARC |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
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.
·