MIRA INFORM REPORT

 

 

Report No. :

509804

Report Date :

21.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

ULTRATECH CEMENT LIMITED

 

 

Registered Office :

B Wing, Ahura Centre, 2nd Floor, Mahakali Caves Road, Andheri (East), Mumbai – 400093, Maharashtra

Tel. No.:

91-22-66917800

 

 

Country :

India

 

 

Financials (as on) :

31.03.2018

 

 

Date of Incorporation :

24.08.2000

 

 

Com. Reg. No.:

11-128420

 

 

Capital Investment / Paid-up Capital :

INR 2746.100 Million

 

 

 

CIN No.:

[Company Identification No.]

L26940MH2000PLC128420

 

 

IEC No.:

[Import-Export Code No.]

0304009547

 

 

GSTN :

[Goods & Service Tax Registration No.]

27AAACL6442L1ZA [Nagpur]

 

 

TIN No.:

27710299627

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACL6442L

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

Manufacturing and Selling of Cement and Cement Related Products. (Registered Activity)

 

 

No. of Employees :

[As on 31.03.2017]

14240 (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++

Minimum Risk

Business dealings permissible with minimum risk of default

 

Status :

Excellent

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a flagship company of Aditya Birla Group. It was incorporated in the year 2000 and has excellent track records.

 

The company was formed when Grasim Industries Limited acquired majority ownership and management control in L&T Cement Limited. The company is one of the leading manufacturers of cement and cement related products.

 

For the financial year 2018, the company has reported fair growth of 12.96 % in its revenue compared to its previous year and has able to maintained fair profitability margin during the year

 

Rating takes into consideration, the healthy financial profile on back of low financial leverage with favourable capital structure and comfortable liquidity position.

 

Ratings further takes into account the company’s strong track record, operational synergies, superior brand presence along with favourable cement demand outlook and have significance operational linkages and a common management.

 

The company has its share price trading at around INR 3953.85 on BSE as on 17th May 2018 as against its face value of INR 10.

 

However, ratings weakness is partially offset by exposure to risk arising from commodities and cyclical nature of cement industry thus leading to decline in operating rates and volatility in cement prices.

 

Payments are seems to be regular and as per commitments.

 

In view of aforesaid, the company can be considered best for 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

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CRISIL

Rating

Long Term Bank Facilities=AAA

Rating Explanation

Highest degree of safety and carry lowest credit risk

Date

31.07.2017

 

Rating Agency Name

CRISIL

Rating

Short Term non convertible debenture=A1+

Rating Explanation

Very strong degree of safety and carry lowest credit risk

Date

31.07.2017

 

 

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 21.05.2018.

 

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

 

(CONTACT NO: 91-22-66917800/ 29267800)

 

 

LOCATIONS

 

Registered/ Head Office :

B Wing, Ahura Centre, 2nd Floor, Mahakali Caves Road, Andheri (East), Mumbai – 400093, Maharashtra, India

Tel. No.:

91-22-66917800/ 29267800

Fax No.:

91-22-66928109

E-Mail :

csutcl@adityabirla.com

ultratech.care@adityabirla.com

sharesutcl@adityabirla.com

sharesutcl@adityabirla.com

brr.utcl@adityabirla.com

Website :

www.ultratechcement.com

www.adityabirla.com

 

 

PLANT LOCATIONS

Integrated Plants:

Aditya Cement Works

Adityapuram Sawa – Shambhupura Road, District: Chittorgarh– 312 622, Rajasthan, India

 

Andhra Pradesh Cement Works

Bhogasamudram, Tadipatri Mandal, District: Ananthapur, Andhra Pradesh, India

 

Awarpur Cement Works

P.O. Awarpur Taluka : Korpana, District: Chandrapur, Maharashtra – 442 917, India

 

Gujarat Cement Works

P.O. Kovaya, Taluka: Rajula, District: Amreli– 365 541, Gujarat, India

 

Hirmi Cement Works

Village & Post: Hirmi Taluka: Simga, Bhatapara, District: Baloda Bazar, Raipur– 493195, Chhattisgarh, India

 

Jafarabad Cement Works

P. B. No. 10, Village: Babarkot, Taluka: Jafarabad, District: Amreli– 365 540, Gujarat, India

 

Kotpuli Cement Works

V & P. O. Mohanpura, Tehsil: Kotputli District: Jaipur- 303 108, Rajasthan, India

 

Rajashree Cement Works

Aditya Nagar, Malkhed Road, Tehsil: Sedam, District: Kalaburagi-585292, Karnataka, India

 

Rawan Cement Works

Grasim Vihar, Village & P.O. Rawan, District: Baloda Bazar– 493196, Chhattisgarh, India

 

Reddipalayam Cement Works

Reddipalayam PO, District: Ariyalur– 621 704, Tamilnadu, India

 

Sewagram Cement Works

Village : Vayor, Taluka Abdasa– 370511, District: Kutch, Gujarat, India

 

Vikram Cement Works

Vikram Nagar, P.O.- Khor, Tehsil – Jawad, District: Neemuch-458 470, Madhya Pradesh, India

 

White Cement

Birla White Rajashree Nagar, P.O. Kharia Khangar, Tehsil: Bhopalgarh, District: Jodhpur– 342 606, Rajasthan, India

 

 

Grinding Plants:

Aligarh Cement Works

Village: Kasimpur, Tehsil: Koel, District: Aligarh– 202127, Uttar Pradesh, India

 

Arakkonam Cement Works

Chitteri post, Arakkonam, District: Vellore– 631 003, Tamilnadu, India

 

Bathinda Cement Works

Lehra Mohabbat, Tehsil – Rampuraphul, District: Bathinda- 151111, Punjab, India

 

Dadri Cement Works

Village Ranuali Latiffpur, Post Vidyutnagar, Tehsil: Dadri, District: Gautambudh Nagar – 201 008, Uttar Pradesh, India

 

Dankuni Cement Works

JL -80, Village: Panchghara, Mouza: Panchghara Bazar, District: Hoogly– 712306, West Bengal, India

 

Ginigera Cement Works

Gangavathi Road, Ginigera, District: Koppal– 583 228, Karnataka, India

 

Hotgi Cement Works

Near Railway Station, Hotgi, District: Solapur- 413 215, Maharashtra, India

 

Jhajjar Cement Works

Village: Jharli, Tehsil: Matanhail, District: Jhajjar– 124 106, Haryana, India

 

Jharsuguda Cement Works

P.O. Arda, Near Dhutra Railway Station, District: Jharsuguda– 768 202, Odisha, India

 

Magdalla Cement Works

Magdalla Port, Dumas Road, Surat– 395 007, Gujarat, India

 

Nagpur Cement Works

Village: Tarsa, Tehsil: Mauda, District: Nagpur– 441 106, Maharashtra, India

 

Panipat Cement Works

Village: Karad, Israna Paradana Road, Israna, Panipat–132107, Haryana, India

 

Patliputra Cement Works

Next To Sigariyawan Station, Near Daniyawana Village, Shajahnapur, Patna – 801305, Bihar, India

 

Ratnagiri Cement Works

MIDC Indl. Estate, Zadgaon Block, Ratnagiri– 415 639, Maharashtra, India

 

Wanakbori Cement Works

Village: Sangol, Post. Sonipur, Taluka: Thasra, District: Kheda– 388 245, Gujarat, India

 

West Bengal Cement Works

Near EPIP Plot, Muchipara, Durgapur– 713 212, West Bengal, India

 

 

Bulk Terminals:

Birla Super Bulk Terminal

Near Railway Station, Veerapura P.O., District: Dodballapur, Bangalore – 561 203, Karnataka, India

 

Mangalore Bulk Terminal

Beach Road, Panambur, Mangalore – 575 010, Karnataka, India

 

Navi Mumbai Bulk Terminal

Sector 1, Dronagiri Indl. Area Uran, Navi Mumbai – 400 707, Maharashtra, India

 

Pune Bulk Terminal

Tah-Haveli, Village: Peth(Naygaon), District: Pune– 412 110, Maharashtra, India

 

Shankarpalli Bulk Terminal

Village: Fathepur, Shankarpalli Mandal, District: Rangareddy– 501203, Telangana, India

 

Cochin Bulk Terminal

Survey No. 2578/4 Indira Gandhi Road, Willingdon Island, Cochin - 682 003, Kerala, India

 

 

Factories :

·         Baga Cement Works

Village Baga, P.O. Kandhar, Tehsil Arki, Solan, Himachal Pradesh, India

 

·         Balaji Cement Works

Survey No. 99, Village Budawada, Mandal-Jaggiyapet, 521175, Krishna (Andhra Pradesh), India

 

·         Dalla Cement Works

Dalla 231207, Sonebhadra, Uttar Pradesh, India

 

·         Sidhi Cement Works

Jaypee Vihar, Majhigawan, P.O. Bharatpur, Sidhi-486776, Madhya Pradesh, India  

 

 

Branch Office :

East Zone

502-504, Ashiana Tower, Exhibition Road, Patna 800001, Bihar, India

 

 

Regional Office :

3rd Floor, Oasis Trade Center, 20/22, Y.N. Road, Indore – 452003, Madhya Pradesh, India

 

 

Other Regional Offices :

Located at:

 

East

 

·         Balasore

·         Berhampur

·         Bhadrak

·         Bhubaneswar

·         Cuttack

·         New Alipore

·         Dankuni

·         Cossipore

·         Berhampore

·         Sahibgunj

·         Dhanbad

·         Deoghar

·         Daltonganj

·         Koderma

·         Ranchi

·         Jamshedpur

·         Bhagalpur

·         Kaithar

·         Saharsa

·         Begusarai

·         Samastipur

·         Darbhanga

·         Muzaffarpur

·         Gaya

·         Siwan

·         Patna

·         Sainthia

·         Guwahati

·         Siliguri

·         Sainthia

·         Krishnanagar

·         Malda

·         Kolkata

·         Kharagpur

·         Durgapur

·         Burdwan

·         Murshidabad

·         Bankura

·         Durg

·         Raipur

·         BILASPUR

·         Raigarh

·         Jaipur

·         Jeypore

·         Kesinga

·         Rayagada

·         Rourkela

·         Ambikapur

·         Sambalpur

·         Dhenkanal

 

North

 

·         Delhi

·         Faridabad

·         Gurgaon

·         Hissar

·         Karnal

·         Narnaul

·         Rohtak

·         Balaghat

·         Bhopal

·         Chhindwara

·         Guna

·         Gwalior

·         Jabalpur

·         Khandwa

·         Ratlam

·         Neemuch

·         Shajapur

·         Ujjain

·         Amritsar

·         Ajmer

·         Alwar

·         Bhatinda

·         Chandigarh

·         Jammu

·         Ludhiana

·         Patiala

·         Parwanoo

·         Bharatpur

·         Bikaner

·         Hanumangarh

·         Jaipur

·         Jhunjhunu

·         Kota

·         Nimbahera

·         Udaipur

·         Agra

·         Aligarh

·         Bareilly

·         Bijnore

·         Ghaziabad

·         Jhansi

·         Kanpur

·         Mathura

·         Meerut

·         Dehradun

·         Moradabad

·         Muzaffarnagar

·         Saharanpur

·         Kashipur

·         Jalandhar

·         Roorkee

 

South

 

·         Chennai

·         Salem

·         Vellore

·         Coimbatore

·         Madurai

·         Pondy

·         Trichy

·         Thanjavur

·         Tricy

·         Bangalore

·         Palakkad

·         Trivandrum

·         Calicut

·         Kochi

·         Karimnagar

·         Vishakhapatnam

·         Vijayawada

·         Tirupathi

·         Anantapur

·         Hyderabad

·         Mahabubnagar

·         Mapusa

·         Margao

·         Belary

·         Devangere

·         Hubli

·         Belgaum

·         Raichur

·         Bijapur

·         Gulbarga

·         Shimoga/ Chichmangalpur

·         Mangalore Udupi

·         Mysore

·         Tumkur

·         Hassan

·         Mandya

 

West

 

·         Ahmednagar

·         Akola

·         Amravati

·         Aurangabad

·         Beed

·         Bhayanader

·         Dhule

·         Chandrapur

·         Jalgaon

·         Jalna

·         Kalyan

·         Kolhapur

·         Latur

·         Mumbai

·         Nanded

·         Nashik

·         Nagpur

·         Navi Mumbai

·         Panvel

·         Pune

·         Ratnagiri

·         Sangli

·         Satara

·         Solapur

·         Yavatmal

·         Mehsana

·         Ahmedabad

·         Rajkot

·         Kutch

·         Bhavnagar

·         Baroda

·         Anand

·         Surat

·         Valsad

·         Ahmedabad

 

 

DIRECTORS

 

AS ON: 31.03.2018

 

Name :

Mr. Omprakash Puranmalka

Designation :

Managing Director

Address:

701 / 702, Vimal Residency, Corner of 7th and 11th Road , Khar (West), Mumbai - 400052, Maharashtra, India

Date of Appointment :

16.01.2010

DIN No.:

00062212

 

 

Name :

Mrs. Alka Marezban Bharucha

Designation :

Director

Address:

7E, Harbour Heights, N. A. Sawant Marg, Colaba, Mumbai-400005, Maharashtra, India

Date of Appointment :

09.06.2016

DIN No.:

00114067

 

 

Name :

Mr. Dwarka Dass Rathi

Designation :

Director

Address:

82, 8th Floor, Jolly Maker Appartment. No. II, Cuffe Parade, Mumbai - 400005, Maharashtra, India

Date of Appointment :

06.07.2004

DIN No.:

00012575

 

 

Name :

Mr. Kumar Mangalam Birla

Designation :

Director

Address:

Mangal Adityayan, 20 Carmichel Road, Behind Jaslok Hosital, Mumbai - 400026, Maharashtra, India

Date of Birth/Age :

14.06.1967

Qualification :

ACA, MBA

Date of Appointment :

14.05.2004

DIN No.:

00012813

 

 

Name :

Mrs. Rajashree Birla

Designation :

Director

Address:

Mangal Adityayan, 20 Carmichel Road, Behind Jaslok Hospital, Mumbai - 400026, Maharashtra, India

Date of Birth/Age :

15.09.1945

Date of Appointment :

14.05.2004

DIN No.:

00022995

 

 

Name :

Mr. Arun Kumar Adhikari

Designation :

Director

Address:

903 A Wing, 9th Floor, Vivarea, Sane Guruji Marg, Mahalaxmi (East), Mumbai - 400011, Maharashtra, India

Date of Appointment :

03.12.2013

DIN No.:

00591057

 

 

Name :

Mr. Ravindra Chandra Bhargava

Designation :

Director

Address:

220, Sector – 15A, Noida, Ghaziabad - 201301, Uttar Pradesh, India

Date of Birth/Age :

30.07.1934

Date of Appointment :

06.07.2004

DIN No.:

00007620

 

 

Name :

Mr. Girish Mohanlal Dave

Designation :

Director

Address:

Dave And Girish And Company Advocates, 1st Floor, Sethna Bldg, 55 Maharshi Karve Road, Marine Lines, Mumbai - 400002, Maharashtra, India

Date of Birth/Age :

12.07.1938

Date of Appointment :

07.07.2006

DIN No.:

00036455

 

 

Name :

Mr. Sunil Behari Mathur

Designation :

Director

Address:

Plot No. 10, A-10 Vasant Vihar, New Delhi-110057, India

Date of Birth/Age:

11.10.1944

Date of Appointment:

10.09.2008

DIN No.:

00013239

 

 

Name :

Mr. Krishnakishore Maheshwari

Designation :

Additional Director

Address:

Chitrakoot Housing Society, Flat No. 22 Altamount Road, Mumbai-400026, Maharashtra, India

Date of Appointment :

01.04.2016

DIN No.

00017572

 

 

Name :

Ms. Renuka Ramnath

Designation :

Independent Director

Address:

D-4701/2, Floor: 47, Ashok Tower, 63/74, Dr. S. S. Rao Marg, Parel, Mumbai - 400012, Maharashtra, India

Date of Appointment :

11.10.2014

DIN No.

00147182

 

 

Name :

Mr. Sukanya Anand Kripalu

Designation :

Director

Address :

1703 / 17th Floor, Vivarea Tower B-1, Sane Guruji, Marg, Hindustan Spinning And Wire Compdr, Mahalaxmi Mumbai - 400011, Maharashtra, India

Date of Appointment :

11.10.2014

DIN No.:

06994202

 

 

Name :

Mr. Atul Daga

Designation :

Whole-time Director

Address:

B-201, Rising Sun, 11/12 Juhu Tara Road, Mumbai - 400049, Maharashtra, India

Date of Appointment:

09.06.2016

PAN No.:

06416619

 

 

KEY EXECUTIVES

 

Name:

Mr. Sanjeeb Kumar Chatterjee

Designation:

Company Secretary

Address:

D-411, Sai Jyote, Lallubhai Park, Vile Parle (West), Mumbai, 400052, Maharashtra, India

Date of Appointment:

06.09.2004

PAN No.:

ADJPC3137G

 

 

EXECUTIVES:

Name:

Mr. K. C. Jhanwar

Designation:

Deputy Managing Director and Chief Manufacturing Officer

 

 

Name:

Mr. Vivek Agrawal

Designation:

Group Executive President and Chief Marketing Officer

 

 

Name:

Mr. Sanjay Mathur

Designation:

CEO – Ready Mix Concrete, Key Accounts and Aggregates

 

 

Name:

Mr. Sunil Kulwal

Designation:

CEO – White Cement

 

 

Name:

Mr. Pramod Rajgaria

Designation:

President – International Operations

 

 

Name:

Mr. Ramesh Mitragotri

Designation:

Chief Human Resource Officer

 

 

Name:

Mr. Paresh Thacker

Designation:

General Counsel

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 31.03.2018

 

Names of Shareholders

Total nos. shares held

Percentage of Holding

Promoter & Promoter Group

170203767

61.98

Public

104410218

38.02

 

 

 

Total

274613985

100.00

 

 

Statement showing shareholding pattern of the Promoter and Promoter Group

 

Category of shareholder

Total nos. shares held

Shareholding as a % of total no. of shares (calculated as per SCRR, 1957)As a % of (A+B+C2)

A1) Indian

0.00

 

Individuals/Hindu undivided Family

77,009

0.03

 

Shri Kumar Mangalam Birla

3,837

0.00

 

Aditya Vikram Kumarmangalam Birla HUF

10,228

0.00

 

Smt. Rajashree Birla

41,701

0.02

 

Smt. Neerja Birla

8,011

0.00

 

Smt. Vasavadatta Bajaj

13,232

0.00

 

Any Other (specify)

16,73,82,590

60.95

 

Grasim Industries Limited

16,53,35,150

60.21

 

Trapti Trading & Investments Pvt. Limited

5,20,051

0.19

 

Birla Group Holdings Pvt. Limited

1

0.00

 

Turquoise Investment And Finance Pvt. Ltd.

2,68,636

0.10

 

Hindalco Industries Limited

12,58,515

0.46

 

Rajratna Holdings Pvt. Limited

76

0.00

 

Vaibhav Holdings Pvt. Limited

76

0.00

 

Vikram Holding Pvt. Limited

85

0.00

 

Sub Total A1

16,74,59,599

60.98

 

A2) Foreign

0.00

 

Any Other (specify)

27,44,168

1.00

 

PT. Indo Bharat Rayon

22,86,172

0.83

 

PT. Sunrise Bumi Textiles

1,44,998

0.05

 

PT. Elegant Textile Industry

92,428

0.03

 

Thai Rayon Public Co. Ltd.

2,19,998

0.08

 

Surya Kiran Investments Pte. Ltd.

572

0.00

 

Sub Total A2

27,44,168

1.00

 

A=A1+A2

17,02,03,767

61.98

 

 

 

Statement showing shareholding pattern of the Public shareholder

 

Category & Name of the Shareholders

Total no. shares held

Shareholding % calculated as per SCRR, 1957 As a % of (A+B+C2)

 

 

 

B1) Institutions

0.00

 

Mutual Funds/

71,84,154

2.62

 

Foreign Portfolio Investors

6,11,60,489

22.27

 

Europacific Growth Fund

28,38,000

1.03

 

Oppenheimer Developing Markets Fund

47,40,142

1.73

 

Financial Institutions/ Banks

2,88,354

0.11

 

Insurance Companies

83,99,514

3.06

 

Life Insurance Corporation of India

66,16,997

2.41

 

Sub Total B1

7,70,32,511

28.05

 

B2) Central Government/ State Government(s)/ President of India

0.00

 

Central Government/ State Government(s)/ President of India

82,715

0.03

 

Sub Total B2

82,715

0.03

 

B3) Non-Institutions

0.00

 

Individual share capital upto INR 0.200 Million

1,49,35,595

5.44

 

Individual share capital in excess of INR 0.200 Million

82,190

0.03

 

NBFCs registered with RBI

8,610

0.00

 

Overseas Depositories (holding DRs) (balancing figure)

17,60,045

0.64

 

Any Other (specify)

1,05,08,552

3.83

 

Non-Resident Indian (NRI)

8,01,871

0.29

 

Overseas Corporate Bodies

14,98,852

0.55

 

Clearing Members

11,186

0.00

 

Foreign Nationals

49,905

0.02

 

Bodies Corporate

81,46,738

2.97

 

Sub Total B3

2,72,94,992

9.94

 

B=B1+B2+B3

10,44,10,218

38.02

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturing and Selling of Cement and Cement Related Products. (Registered Activity)

 

 

Brand Names :

‘’ULTRATECH‘’

‘’BIRLA WHITE YUVARATNA AWARDS‘’

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

Not Divulged

 

PRODUCTION STATUS: (NOT AVAILABLE)

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

--

Contact Number:

--

Since how long known:

--

Maximum limit dealt:

--

Experience:

--

Remark

--

 

 

Customers :

 

Reference:

Not Divulged

Name of the Person (Designation):

--

Contact Number:

--

Since how long known:

--

Maximum limit dealt:

--

Experience:

--

Remark

--

 

 

No. of Employees :

[As on 31.03.2017]

14240 (Approximately)

 

 

Bankers :

[As on 31.03.2017]

·         State Bank of India

Corporate Accounts Group Branch, The Capital,16th Floor, Bandra Kurla Complex, Bandra (East)Mumbai-40005, Maharashtra, India

 

·         State Bank of India

Madame Cama Road, Mumbai-400021, Maharashtra, India

 

·         ICICI Bank Limited

Ground Floor, Zenith House, Keshavrao Khadye Marg, Mahalaxmi, Mumbai-400034, Maharashtra, India

 

·         Indian Overseas Bank

·         Axis Bank Limited

·         HDFC Bank Limited

 

 

Facilities :

SECURED LOANS

31.03.2018

(INR In Million)

31.03.2017

(INR In Million)

LONG-TERM BORROWINGS

 

 

Non-Convertible Debentures

 

19250.000

Term Loans from Banks:

 

 

In Foreign Currency

 

2594.000

In Local Currency

 

3000.000

Sales Tax Deferment Loan

 

0.000

 

 

 

SHORT TERM BORROWINGS

 

 

Loans repayable on demand:

 

 

From Banks - Cash Credits / Working Capital Borrowings (Secured

by Hypothecation of Stocks and Book Debts of the Company)

 

0.000

 

 

 

Total

 

NA

24844.000

 

Financial Institution:

 

·         Sbicap Trustee Company Limited

202, Maker Tower, 'E', Cuffe Parade, Colaba, Mumbai – 400005, Maharashtra, India

 

 

Statutory Auditors 1:

[As on 31.03.2017]

 

 

 

Name :

BSR and Company LLP

Chartered Accountants

Address :

Lodha Excelus, 5th Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai-400011, Maharashtra, India

Tel No :

91-22-43455300

Fax No :

91-22-43455399

 

 

Statutory Auditors 2:

[As on 31.03.2017]

 

Name :

Khimji Kunverji and Company

Chartered Accountants

Address :

Sunshine Tower, Level 19, Senapati Bapat Marg, Elphinstone, Mumbai-400013, Maharashtra, India

Tel No :

91-22-61437333

Fax No :

91-22-61437300

 

 

Cost Auditors 1 :

[As on 31.03.2017]

 

Name :

D. C. Dave and Company

Cost Accountants

Address :

Mumbai, Maharashtra, India

 

 

Cost Auditors 2 :

[As on 31.03.2017]

 

Name :

N. D. Birla and Company

Cost Accountants

Address :

Ahmedabad, Gujarat, India

 

 

Solicitors :

[As on 31.03.2017]

 

Name :

Cyril Amarchand and Mangaldas

Advocates and Solicitors

Address :

Mumbai, Maharashtra, India

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding Company :

[As on 31.03.2017]

Grasim Industries Limited

 

 

Associate :

[As on 31.03.2017]

Madanpur (North) Coal Company Private Limited (MNCCPL)

 

 

Wholly Owned Subsidiary : 

[As on 31.03.2017]

·         Dakshin Cements Limited

·         Harish Cement Limited

·         UltraTech Cement Middle East Investments Limited (UCMEIL)

·         UltraTech Cement SA (PTY)

·         Gotan Limestone Khanij Udyog Private Limited

·         Bhagwati Lime Stone Company Private Limited (BLSCPL)

 

 

Subsidiary Companies :

[As on 31.03.2017]

 

·         Dakshin Cements Limited

·         UltraTech Cement Lanka Private Limited

·         Harish Cement Limited

·         PT UltraTech Mining Indonesia

·         PT UltraTech Investments Indonesia

·         UltraTech Cement SA (PTY)

·         UltraTech Cement Middle East Investments Limited (UCMEIL)

·         Star Cement Co. LLC, Dubai*

·         Star Cement Co. LLC, Ras-Al-Khaimah*

·         Al Nakhla Crusher LLC, Fujairah*

·         Arabian Cement Industry LLC, Abu Dhabi*

·         Arabian Gulf Cement Co W.L.L, Bahrain*

·         Emirates Power Company Limited, Bangladesh*

·         Emirates Cement Bangladesh Limited, Bangladesh*

·         Bhagwati Lime Stone Company Private Limited (BLCPL)

·         Awam Minerals LLC, Oman *

·         UltraTech Cement Mozambique Limitada, Mozambique*

·         Gotan Limestone Khanij Udyog Private Limited

·         PT UltraTech Cement Indonesia#

·         PT UltraTech Mining Sumatera #

 

 

Joint Venture:

[As on 31.03.2017]

Bhaskarpara Coal Company Limited (BCCL)

 

 

Fellow Subsidiaries :

[As on 31.03.2017]

 

·         Samruddhi Swastik Trading and Investments Limited

·         Grasim Bhiwani Textiles Limited

 

Notes:

! 4% Shareholding of UCMEIL.

& 5% Shareholding of UCMEIL.

* Subsidiaries of UCMEIL.

$ 51% held by nominee as required by local law for beneficial interest of the Company.

^ 1 share held by employee as nominee for the beneficial interest of the Company.

@ 90% Shareholding of UCMEIL.

# Subsidiary of PT UltraTech Investments Indonesia.

 

 

CAPITAL STRUCTURE

 

AFTER 18.07.2017

 

Authorised Capital : INR 18000.000 Million

 

Issued, Subscribed & Paid-up Capital : INR 12747.140 Million

 

 

AS ON 31.03.2018

 

Authorised Capital : Not Available

 

Issued, Subscribed & Paid-up Capital : INR 2746.100 Million

 

 

AS ON 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

280000000

Equity Shares

INR 10/- each

INR 2800.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

274507906

Equity Shares

INR 10/- each

INR 2745.100 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in INR Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2018

31.03.2017

31.03.2016

I.      EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

2746.100

2745.100

2744.300

(b) Reserves & Surplus

256484.100

236665.000

213574.000

(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)

259230.200

239410.100

216318.300

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

138783.600

42001.200

26678.900

(b) Deferred tax liabilities (Net)

31740.500

27735.600

24319.900

(c) Other long term liabilities

348.400

372.700

79.800

(d) long-term provisions

3204.600

2707.300

2527.300

Total Non-current Liabilities (3)

174077.100

72816.800

53605.900

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

26878.300

10158.400

23387.500

(b) Trade payables

23435.300

17138.000

15814.600

(c) Other current liabilities

57092.700

51693.300

72160.800

(d) Short-term provisions

3016.400

1594.300

1618.600

Total Current Liabilities (4)

110422.700

80584.000

112981.500

 

 

 

 

TOTAL

543730.000

392810.900

382905.700

 

 

 

 

II.    ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

342189.800

228982.300

223767.100

(ii) Intangible Assets

29918.600

3335.300

3108.300

(iii) Capital work-in-progress

14729.700

8777.600

14144.800

(iv) Intangible assets under development

9.100

6.300

10.800

(b) Non-current Investments

22141.900

20027.200

34332.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

342.500

555.300

658.900

(e) Other Non-current assets

28542.300

6376.400

9529.300

Total Non-Current Assets

437873.900

268060.400

285551.200

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

39487.100

54059.500

23599.800

(b) Inventories

31015.000

22249.900

22776.100

(c) Trade receivables

17142.000

12761.700

14148.900

(d) Cash and cash equivalents

1993.200

22177.400

22352.000

(e) Short-term loans and advances

1110.200

1239.500

1189.900

(f) Other current assets

15108.600

12262.500

13287.800

Total Current Assets

105856.100

124750.500

97354.500

 

 

 

 

TOTAL

543730.000

392810.900

382905.700

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2018

31.03.2017

31.03.2016

 

SALES

 

 

 

 

 

Revenue from Operations

306839.300

271624.200

269471.400

 

 

Other Income

5947.000

6599.500

4806.600

 

 

TOTAL                                     (A)

312786.300

278223.700

274278.000

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

39783.600

34678.200

35508.800

 

 

Purchases of Stock-in-Trade

8143.700

4835.600

4396.800

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(1130.800)

731.300

(178.100)

 

 

Employees benefits expense

17062.400

14134.400

13430.200

 

 

Power and Fuel

59595.000

39265.500

42408.100

 

 

Freight and Forwarding Expense

72816.300

58452.200

59349.000

 

 

Excise Duty

8938.300

32709.900

32383.500

 

 

Captive Consumption of Cement

0.000

(190.100)

(363.500)

 

 

Other expenses

42798.000

37317.700

36270.600

 

 

Exceptional Items

 

 

 

 

 

Impairment in value of Investments

0.000

136.900

0.000

 

 

Stamp duty on Acquisition of Assets

2262.800

0.000

0.000

 

 

TOTAL                                     (B)

250269.300

222071.600

223205.400

 

 

 

 

 

 

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

62517.000

56152.100

51072.600

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

11863.000

5713.900

5116.600

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

50654.000

50438.200

45956.000

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

17635.600

12678.700

12970.400

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

33018.400

37759.500

32985.600

 

 

 

 

 

Less

TAX                                                                  (H)

10705.600

11482.300

9284.000

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

22312.800

26277.200

23701.600

 

 

 

 

 

 

Earnings Per Share (INR)

 

 

 

 

Basic

81.27

95.74

86.37

 

Diluted

81.25

95.70

86.32

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

PARTICULARS

 

31.03.2018

31.03.2017

31.03.2016

Current Maturities of Long term debt

NA

10244.700

32429.200

 

 

 

 

Cash Generated from Operations

NA

54519.100

51898.700

 

 

 

 

Net Cash Generated from Operating Activities

NA

47212.500

43544.000

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2018

31.03.2017

31.03.2016

Average Collection Days

(Sundry Debtors / Income * 365 Days)

20.39

17.15

19.16

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

17.90

21.28

19.05

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

178.48

158.31

144.65

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

2.02

2.52

2.24

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.16

0.23

0.21

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2018

31.03.2017

31.03.2016

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.46

0.34

0.45

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.64

0.26

0.38

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

0.43

0.34

0.52

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

1.49

1.01

1.11

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

5.27

9.83

9.98

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2018

31.03.2017

31.03.2016

Net Profit Margin

((PAT / Sales) * 100)

%

7.27

9.67

8.80

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

4.10

6.69

6.19

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

8.61

10.98

10.96

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2018

31.03.2017

31.03.2016

Current Ratio

(Current Assets / Current Liabilities)

0.96

1.55

0.86

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.68

1.27

0.66

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.48

0.61

0.56

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

60.33

22.73

30.06

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

0.96

1.55

0.86

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

STOCK PRICES

 

Face Value

INR 10.00/-

 

 

Market Value

INR 3953.85/-

 

 

FINANCIAL ANALYSIS

[all figures are in INR Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2016

31.03.2017

31.03.2018

 

INR In Million

INR In Million

INR In Million

Share Capital

2744.300

2745.100

2746.100

Reserves & Surplus

213574.000

236665.000

256484.100

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

216318.300

239410.100

259230.200

 

 

 

 

long-term borrowings

26678.900

42001.200

138783.600

Short term borrowings

23387.500

10158.400

26878.300

Total borrowings

50066.400

52159.600

165661.900

Debt/Equity ratio

0.231

0.218

0.639

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2016

31.03.2017

31.03.2018

 

INR In Million

INR In Million

INR In Million

Sales

269471.400

271624.200

306839.300

 

 

0.799

12.965

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2016

31.03.2017

31.03.2018

 

INR In Million

INR In Million

INR In Million

Sales

269471.400

271624.200

306839.300

Profit

23701.600

26277.200

22312.800

 

8.80%

9.67%

7.27%

 


 

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

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

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

 

 

 

 

INDEX OF CHARGES

 

SNO

SRN

CHARGE ID

CHARGE HOLDER NAME

DATE OF CREATION

DATE OF MODIFICATION

DATE OF SATISFACTION

AMOUNT

ADDRESS

1

G87301073

100176452

SBICAP TRUSTEE COMPANY LIMITED

11/05/2018

-

-

33179206803.0

202, MAKER TOWER, 'E', CUFFE PARADE,COLABA,MUMBAIMH400005IN

2

G86689601

100174585

SBICAP TRUSTEE COMPANY LIMITED

27/04/2018

-

-

1283000000.0

202, MAKER TOWER, 'E', CUFFE PARADE,COLABA,MUMBAIMH400005IN

3

G86689643

100174586

SBICAP TRUSTEE COMPANY LIMITED

27/04/2018

-

-

1283000000.0

202, MAKER TOWER, 'E', CUFFE PARADE,COLABA,MUMBAIMH400005IN

4

G86689908

100174587

SBICAP TRUSTEE COMPANY LIMITED

27/04/2018

-

-

650700000.0

202, MAKER TOWER, 'E', CUFFE PARADE,COLABA,MUMBAIMH400005IN

5

G83971549

100169247

Uttar Pradesh Financial Corporation

11/04/2018

-

-

2857400000.0

14/88, Civil Lines, Kanpur- 208 001KanpurUP208001IN

6

G81546772

100164569

SBICAP TRUSTEE COMPANY LIMITED

28/03/2018

-

-

20000000000.0

202, MAKER TOWER, 'E', CUFFE PARADE,COLABA,MUMBAIMH400005IN

7

G84584465

100155862

SBICAP TRUSTEE COMPANY LIMITED

16/02/2018

16/04/2018

-

26647120555.0

202, MAKER TOWER, 'E', CUFFE PARADE,COLABA,MUMBAIMH400005IN

8

G84584937

100109111

SBICAP TRUSTEE COMPANY LIMITED

13/07/2017

16/04/2018

-

36337612628.0

202, MAKER TOWER, 'E', CUFFE PARADE,COLABA,MUMBAIMH400005IN

9

G34375824

100075866

SBICAP TRUSTEE COMPANY LIMITED

16/01/2017

-

-

3000000000.0

202, MAKER TOWER, 'E', CUFFE PARADE,COLABA,MUMBAIMa400005IN

10

G13760657

100054244

SBICAP TRUSTEE COMPANY LIMITED

23/09/2016

-

-

3000000000.0

202, MAKER TOWER, 'E', CUFFE PARADE,COLABA,MUMBAIMa400005IN

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2018

(INR In Million)

31.03.2017

(INR In Million)

LONG-TERM BORROWINGS

 

 

Non-Convertible Debentures

6500.000

Term Loans from Banks:

 

 

In Foreign Currency

 

7874.600

Sales Tax Deferment Loan

 

2782.600

 

 

 

SHORT TERM BORROWINGS

 

 

Loans repayable on demand:

From Banks - Cash Credits / Working Capital Borrowings

 

368.000

Others

 

 

From Banks (includes commercial paper)

 

9790.400

From Others (commercial paper)

 

0.000

 

 

 

Total

 

NA

27315.600

 

 

COMPANY OVERVIEW: [As on 31.03.2017]

 

UltraTech Cement Limited (the Company) is a Public Limited Company incorporated in India having its registered office at Mumbai, Maharastra, India. The Company is engaged in the manufacturing and selling of Cement and Cement related products.

 

 

CONTINGENT LIABILITIES:

 

(a) Claims against the Company not acknowledged as debt:

 

Particulars

31.03.2018

(INR In Million)

31.03.2017

(INR In Million)

Sales-tax / VAT Matters

NA

3433.800

Excise Duty and Service Tax Matters

NA

10061.700

Royalty on Limestone/ Marl / Shale

NA

2015.400

Customs

NA

1684.400

Others

NA

5310.800

 

(b) The Company, has filed an appeal with Competition Appellate Tribunal (“COMPAT”) against two orders of the Competition Commission of India (“CCI”) dated August 31, 2016 & January 19, 2017 respectively and as per the directions of COMPAT, has deposited INR 1175.500 Million, being 10% of the penalty imposed by CCI under its order dated August 31, 2016. COMPAT has since granted a stay on both the CCI orders. The Company, backed by a legal opinion, believes that it has a good case and accordingly no provision has been made in the accounts.

 

 

FIXED ASSETS: [As on 31.03.2017]

 

Tangible Assets

 

·         Freehold Land

·         Leasehold Land

·         Buildings

·         Railway Sidings

·         Plant and Equipment

·         Office Equipment

·         Furniture and Fixtures

·         Vehicles

 

 

PRESS RELEASE:

 

HOW ULTRATECH CEMENT IS PLANNING TO REDUCE ITS DEBT

 

Mar 26 2018

Mumbai: India’s largest cement maker, UltraTech Cement Ltd, aims to aggressively cut its debt over the next two years to help prepare for more acquisitions.

UltraTech, controlled by billionaire Kumar Mangalam Birla, plans to prepay some loans through its internal cash accruals, according to chief financial officer Atul Daga. It targets to cut the ratio of its net debt to earnings before interest, taxes, depreciation and amortization to 1 time by 2020, from 2.3 times currently, Daga said in an interview Thursday in Mumbai.

The company is pushing ahead with further dealmaking, even as it challenges the outcome of Binani Cement Ltd’s sale after being bested by a rival bidder. UltraTech boosted its offer for insolvent Binani Cement to about Rs69 billion ($1.1 billion) after the bidding closed and later approached the National Company Law Tribunal with complaints on the transparency of the auction process.

“It is our pride,” Daga said when asked why UltraTech was contesting the outcome. “Somebody is playing mischief. We will not tolerate that.”

UltraTech is looking to purchase additional capacity in India, where it sees the most demand, according to Daga. It will look at more stressed cement assets being auctioned under India’s new bankruptcy law, as well as other companies that come up for sale, he said. UltraTech needs to maintain its market share in the growing Indian cement sector, Daga said.

‘Big shocker’

Binani Cement creditors earlier this month picked an offer from a consortium led by Dalmia Bharat Ltd, a domestic rival of UltraTech. The Dalmia Bharat bid, which had backing from Bain Capital Credit, was chosen as the best proposal and submitted to the NCLT for approval. UltraTech has since made its latest offer, valued at Rs72.7 billion including working capital commitments, directly to Binani Cement’s parent, conditional on the building material producer being taken out of insolvency proceedings.

Daga said UltraTech had expected to be called for further negotiations after submitting its initial offer. It had kept some money on the table to allow for further increases of its bid, but the resolution professional overseeing the sale made a decision based on the level of the bids that were submitted, he said.

“One fine day, we got an email that you are not the highest bidder,” Daga said. “That was a big shocker for us.”

UltraTech’s proposal may have won if the resolution professional overseeing the sale had not deemed the company less likely to get Indian antitrust approval for a deal, according to Daga. The region where Binani operates has 18 active cement producers and intense price competition, leaving little room for UltraTech to exercise any dominance of the market, he said.

“The whole bidding process was not transparent,” Daga said.

ULTRATECH CEMENT COMPLETES ACQUISITION OF CEMENT PLANTS OF JAIPRAKASH ASSOCIATES LIMITED

 

Mumbai, 29th June, 2017

 

The Scheme Implementation Committee of the Board of Directors of UltraTech Cement Limited, an Aditya Birla Group company, at its meeting held today, have made effective the Scheme of Arrangement between UltraTech, Jaiprakash Associates Limited (JAL), Jaypee Cement Corporation Limited (JCCL) and their respective shareholders and creditors, (“Scheme”) for the acquisition of their six integrated cement plants and five grinding units, spread across the states of Himachal Pradesh, Uttar Pradesh, Uttarakhand, Madhya Pradesh, and Andhra Pradesh, with a capacity of 21.2 million tons. Consequently, the acquired cement plants of JAL and JCCL stand transferred to UltraTech.

 

Says Mr. Kumar Mangalam Birla, Chairman, UltraTech – “This move is essentially for geographic market expansion, enabling UltraTech’s entry into the high growth markets of India where it needed greater reinforcement. The operations will be strengthened by the process and technological upgradation and also by enhancement in capacity utilization. Creating synergies in manufacturing, distribution and logistics offer many advantages. Furthermore, economies of scale and reduced lead-time to markets, will be achieved. These will enhance competitiveness, benefit consumers, and, in turn, create value for all our stakeholders”.

 

This transaction valued at INR 161890.000 Million ($ 2.5 bn) is the largest deal to be concluded so far, involving a major financial restructuring program, conducted by the ICICI led consortium of lenders to JAL. Alongside, SBI and Axis Bank actively supported this program.

 

After the acquisition, UltraTech has 18 Integrated Plants, 1 clinkerisation unit, 25 Grinding Units and 7 bulk terminals, augmenting its Grey Cement manufacturing capacity to 93 mtpa. With this UltraTech becomes the 4th largest cement player globally (excluding the Chinese players) and the largest player in India by an even larger margin.

 

The expanse of its presence in the country gives UltraTech the strategic ability to support and participate in the economic growth agenda of the Government of India

 

 

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 67.96

UK Pound

1

INR 91.88

Euro

1

INR 80.28

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

 

Analysis Done by :

NIS

 

 

Report Prepared by :

IND

 

 

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.