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|
|
MIRA INFORM REPORT
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Report No. : |
511542 |
|
Report Date : |
24.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
ACC LIMITED (w.e.f.01.09.2006) |
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|
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Formerly Known
As : |
THE ASSOCIATED CEMENT COMPANIES LIMITED |
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Registered
Office : |
Cement House, 121, Maharshi Karve Road, Mumbai – 400020, Maharashtra |
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Tel. No.: |
91-22-33024321/ 33028000/ 33024417 |
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Country : |
India |
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Financials (as
on) : |
31.12.2017 |
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Date of
Incorporation : |
01.08.1936 |
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Com. Reg. No.: |
11-002515 |
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Capital
Investment / Paid-up Capital : |
INR 1879.900 Million |
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|
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CIN No.: [Company Identification
No.] |
l26940mh1936plc002515 |
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IEC No.: [Import-Export Code No.] |
0388050772 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
aaact1507C |
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GSTN : [Goods & Service Tax
Registration No.] |
23aaact1507C1z5 |
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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
: |
Subject is engaged in the business of Manufacturing and
Selling of Cement and Ready mix concrete [Registered Activity] |
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No. of Employees
: |
7422 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
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MIRA’s Rating : |
A++ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject was established in the year 1936 and is a cement manufacturing company. The company’s products include ordinary Portland cement, blended cements, bulk cement and ready mix concrete. Its service include raw material evaluations and optimization, engineering consultancy services for green field, brown field cement plants, management and operation of cement plants and technical training and skills development. As per financials of December 2017, the company has registered a growth of 13.39% in its revenue as compared to its previous year’s revenue and has reported good profit margin of 6.45% under review. Rating takes into consideration the company’s long established track record of business operations marked by healthy net worth base along with low solvency indicators and good liquidity position Rating also takes into account the strong market position in the cement industry and adequate financial flexibility. Share are quoted very high Stock Exchanges. (Shares are traded at a price of INR 1332.50 against its face value of INR 10.) However, rating strength is partially offset by susceptibility to risks relating to input cost, realizations and cyclicality in the cement industry. As per unaudited quarterly financials of March 2018, the company has achieved a revenue of INR 36,245.9 million and has reported a good profit margin of 6.76%. Payments are reported to be regular and as commitment. In view of aforesaid, the company can be considered good for normal business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 Rating = AAA |
|
Rating Explanation |
Highest degree of safety and carry lowest credit risk |
|
Date |
25.01.2018 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
|
Date |
25.01.2018 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
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 24.05.2018
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-COOPERTIVE [91-22-33024321/ 33028000/ 3324417]
Given number
[91-8826991274 - Mr. Irshad Ali] does not belong to the subject company
LOCATIONS
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mrs. Falguni Sanjay Nayar |
|
Designation : |
Director |
|
Address : |
Flat No.9, Rushilla, 5th Floor, Carmicheal Road, Mumbai –
400026, Maharashtra, India |
|
Date of Appointment : |
24.04.2014 |
|
DIN No.: |
00003633 |
|
|
|
|
Name : |
Mr. Shailesh Vishnubhai Haribhakti |
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Designation : |
Director |
|
Address : |
10 and 11, Sahil Apartment, S K Barodawala Road, 14, Altamount
Road, Cumballa Hill, Mumbai – 400026, Maharashtra, India |
|
Date of Appointment : |
17.02.2006 |
|
DIN No.: |
00007347 |
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Name : |
Mr. Arunkumar Ramanlal Gandhi |
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Designation : |
Director |
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Address : |
Akruti Ashtha Building, 9th Floor, 23, Dongerst Road,
Mumbai-400006, Maharashtra, India |
|
Date of Appointment : |
24.04.2014 |
|
DIN No.: |
00007597 |
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Name : |
Mr. Ashwin Suryakant Dani |
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Designation : |
Director |
|
Address : |
Home Villa 48, Krishna Sanghi Path, Mumbai-400007,
Maharashtra, India |
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Date of Appointment : |
15.12.2011 |
|
DIN No.: |
00009126 |
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|
|
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Name : |
Mr. Farrokh Kaikhushru Kavarana |
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Designation : |
Director |
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Address : |
CCI Chambers, 5th Floor, Dinshaw Vachha Road, Mumbai –
400020, Maharashtra, India |
|
Date of Appointment : |
03.05.2013 |
|
DIN No.: |
00027689 |
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|
|
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Name : |
Mr. Martin Kriegner |
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Designation : |
Director |
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Address : |
7, JLN Balau Bukit Damansara Kuala Lumpur 050490 Malaysia |
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Date Of Birth: |
06.09.1961 |
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Date of Appointment : |
11.02.2016 |
|
DIN No.: |
00077715 |
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|
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Name : |
Mr. Narotam Satyanarayan Sekhsaria |
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Designation : |
Director |
|
Address : |
Bhagwati Bhavan, 31 - B Carmichael Road, Behind Jaslok
Hospital, Cumballa Hill, Mumbai-400026, Maharashtra, India |
|
Date of Birth: |
21.09.1949 |
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Date of Appointment : |
27.12.1999 |
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DIN No.: |
00276351 |
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|
|
|
Name : |
Mr. Sushil Kumar Roongta |
|
Designation : |
Director |
|
Address : |
D - 91, DLF Pinnacle, DLF Phase - V, Opposite DLF Golf
Course, Gurugram-122009, Haryana, India
|
|
Date of Appointment : |
03.02.2011 |
|
DIN No.: |
00309302 |
|
|
|
|
Name : |
Mr. Christof Werner Hassig |
|
Designation : |
Director |
|
Address : |
Brunnenhofli 16 Wangen 8855 |
|
Date of Appointment : |
09.12.2015 |
|
DIN No.: |
01680305 |
|
|
|
|
Name : |
Mr. Vijay Kumar Sharma |
|
Designation : |
Director |
|
Address : |
H.No.6A, Mun.H.No.7. Jeevan Jyoti. A-B, Laxmibai
Jagmohandas Road, (Napeansea Road) Malabar Hill, Mumbai-400006, Maharashtra,
India |
|
Date of Appointment : |
06.02.2014 |
|
DIN No.: |
02449088 |
|
|
|
|
Name : |
Mr. Jan Philipp Jenisch |
|
Designation : |
Director |
|
Address : |
Hofstrasse 22 8808 Pfaffikon 8808 Ch10, Rue Eugene Labiche Paris 75116 France |
|
Date of Appointment : |
17.07.2015 |
|
DIN No.: |
07957196 |
|
|
|
|
Name : |
Mr. Neeraj Akhoury |
|
Designation : |
Managing Director |
|
Address : |
Flat 25A, Tower 1, South City Apartments, 375, Prince
Anwar Shah Road, Kolkata-700068, West Bengal, India |
|
Date of Birth: |
17.09.1968 |
|
Date of Appointment : |
16.12.2016 |
|
DIN No.: |
07419090 |
KEY EXECUTIVES
|
Name : |
Mr. Sunil Kamalakar Nayak |
|
Designation : |
Chief Finance Officer |
|
Address : |
16, Asha Mahal, 4th Floor, 46B, Pedder Road,
Mumbai-400026, Maharashtra, India |
|
Date of Appointment : |
01.04.2014 |
|
PAN No.: |
AABPN6096Q |
|
|
|
|
Name : |
Mr. Ramaswami Kalidas |
|
Designation : |
Company Secretary |
|
Address : |
Flat 404, Bldg No. 57, Nri Complex, Phase Ii Seawoods Estates, Nerul Navi Mumbai-400706 |
|
Date of Appointment : |
26.09.2014 |
|
PAN No.: |
AEPPK4406D |
|
|
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Audit Committee : |
· Mr. Arunkumar R Gandhi – Chairman · Mr. Martin Kriegner · Mr. Sushil Kumar Roongta · Mr. Ashwin Dani · Mr. Farrokh K Kavarana |
|
|
|
|
Stakeholders’ Relationship Committee: |
· Mr. Farrokh K Kavarana, Chairman · Mr. Shailesh Haribhakti · Mr. Arunkumar R Gandhi · Mr. Neeraj Akhoury |
|
|
|
|
Nomination and Remuneration Committee: |
· Mr. Ashwin Dani [Chairman] · Mr. N S Sekhsaria · Mr. Martin Kriegner · Mr. Shailesh Haribhakti · Mr. Farrokh K Kavarana |
|
|
|
|
Corporate Social Responsibility Committee: |
· Mr. Shailesh Haribhakti [Chairman] · Mrs. Falguni Nayar · Mr. Farrokh K Kavarana · Mr. Harish Badami |
|
|
|
|
Risk Management Committee: |
· Mr. Shailesh Haribhakti [Chairman] · Mrs. Falguni Nayar · Mr. Sushil Kumar Roongta · Mr. Harish Badami |
|
|
|
|
Compliance Committee: |
· Mr. Farrokh K Kavarana- Chairman · Mr. Sushil Kumar Roongta · Mr. Shailesh Haribhakti · Mr. Neeraj Akhoury |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2018
|
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) |
|
|
(A) Promoter &
Promoter Group |
102395120 |
54.53 |
|
|
(B) Public |
85392143 |
45.47 |
|
|
Grand Total |
187787263 |
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 |
||
|
Any Other
(specify) |
93984120 |
50.05 |
|
|
AMBUJA CEMENTS
LIMITED |
93984120 |
50.05 |
|
|
Sub Total A1 |
93984120 |
50.05 |
|
|
A2) Foreign |
0.00 |
||
|
Any Other
(specify) |
8411000 |
4.48 |
|
|
HOLDERIND
INVESTMENTS LTD |
8411000 |
4.48 |
|
|
Sub Total A2 |
8411000 |
4.48 |
|
|
A=A1+A2 |
102395120 |
54.53 |
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/ |
7841227 |
4.18 |
|
|
Alternate
Investment Funds |
459556 |
0.24 |
|
|
Foreign Portfolio
Investors |
25709619 |
13.69 |
|
|
NEW WORLD FUND INC |
2739500 |
1.46 |
|
|
SMALLCAP WORLD
FUND, INC |
2368240 |
1.26 |
|
|
EUROPACIFIC GROWTH
FUND |
2340000 |
1.25 |
|
|
Financial
Institutions/ Banks |
22268597 |
11.86 |
|
|
LIFE INSURANCE
CORPORATION OF INDIA |
19405142 |
10.33 |
|
|
Insurance
Companies |
2473729 |
1.32 |
|
|
Sub Total B1 |
58752728 |
31.29 |
|
|
B2) Central
Government/ State Government(s)/ President of India |
0.00 |
||
|
Central
Government/ State Government(s)/ President of India |
287815 |
0.15 |
|
|
Sub Total B2 |
287815 |
0.15 |
|
|
B3)
Non-Institutions |
0.00 |
||
|
Individual share
capital upto INR 0.200 Million |
18320258 |
9.76 |
|
|
Individual share
capital in excess of INR 0.200 Million |
1644981 |
0.88 |
|
|
Any Other
(specify) |
6386361 |
3.40 |
|
|
IEPF |
788178 |
0.42 |
|
|
Non-Resident
Indian (NRI) |
818396 |
0.44 |
|
|
Clearing Members |
97960 |
0.05 |
|
|
Foreign Nationals |
383204 |
0.20 |
|
|
Enemy Property |
80 |
0.00 |
|
|
Trusts |
2670478 |
1.42 |
|
|
Bodies Corporate |
1627441 |
0.87 |
|
|
LLP |
624 |
0.00 |
|
|
Sub Total B3 |
26351600 |
14.03 |
|
|
B=B1+B2+B3 |
85392143 |
45.47 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Manufacturing and
Selling of Cement and Ready mix concrete [Registered Activity] |
|
|
|
|
Products : |
Cement and Ready Mix Concrete |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
7422 (Approximately) |
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Bankers : |
· State Bank of India · Citibank NA ·
HDFC Bank Limited |
|||||||||||||||
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Facilities : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins & Sells LLP Chartered Accountants |
|
|
|
|
Cost Auditor : |
|
|
Name : |
D C Dave and Company Cost Accountants |
|
|
|
|
Secretarial Auditor : |
|
|
Name : |
Pramod S Shah and Associates Chartered Accountants |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Ultimate Holding
Company: |
LafargeHolcim Limited, Switzerland |
|
|
|
|
Holding Company of
Holcim (India) Private Limited (upto August 11, 2016) Holding Company of
Ambuja Cements Limited (w.e.f. August 12, 2016) |
Holderind Investments Ltd, Mauritius |
|
|
|
|
Holding Company
(Upto August 11, 2016) |
Holcim (India) Private Limited |
|
|
|
|
Fellow Subsidiary
upto August 11, 2016 and Holding Company (w.e.f. August 12, 2016) |
Ambuja Cements Limited |
|
|
|
|
Subsidiary Company |
· Bulk Cement Corporation (India) Limited · ACC Mineral Resources Limited · Lucky Minmat Limited · National Limestone Company Private Limited · Singhania Minerals Private Limited |
|
|
|
|
Joint venture
Company |
· OneIndia BSC Private Limited · Aakaash Manufacturing Company Private Limited |
|
|
|
|
Associate Company |
· Alcon Cement Company Private Limited · Asian Concretes and Cements Private Limited |
|
|
|
|
Fellow Subsidiary |
· Lafarge India Private Limited(Upto October 04, 2016) · Holcim Technology (Singapore) Pte Ltd, Singapore · Siam City Cement (Lanka) Ltd, Sri Lanka (Upto August 10, 2016) · PT Holcim Indonesia Tbk, Indonesia · Holcim Services (South Asia) Limited · Holcim Cement (Bangladesh) Ltd, Bangladesh · Holcim Philippines Inc, Philippines · Holcim Group Services Ltd, Switzerland · Holcim Technology Ltd, Switzerland · LafargeHolcim Trading Pte Ltd, Singapore · LafargeHolcim Energy Solutions SAS, France · Holcim (Liban) S.A.L., Lebanon · Cementos Apasco SA de CV (LHMEX), Mexico · Dirk India Private Limited (w.e.f. August 12, 2016) |
|
|
|
|
Joint venture of
Ambuja Cements Limited |
Counto Microfine Products Private Limited |
|
|
|
|
Post-employment
benefit plan |
· The Provident Fund of ACC Ltd · ACC Limited Employees Group Gratuity scheme |
CAPITAL STRUCTURE
AS ON: 31.12.2017
Authorised Capital :
|
|
|
|
|
|
225000000 |
Equity Shares |
INR 10/- each |
INR 2250.000 Million |
|
100000000 |
Preferences Shares |
INR 10/- each |
INR 1000.000 Million |
|
|
|
|
|
|
|
TOTAL
|
|
INR 3250.000
Million |
Issued Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
188793243 |
Equity Shares |
INR 10/-
each |
INR 1887.900
Million |
|
|
|
|
|
Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
187787263 |
Equity Shares |
INR 10/-
each |
INR 1877.900
Million |
|
|
Add: Forfeited Equity Shares |
|
INR 2.000
Million |
|
|
TOTAL
|
|
INR 1879.900 Million |
Reconciliation of
number of equity shares outstanding
|
|
|
|
|
As at December 31, 2017 |
187787263 |
1877.900 |
*Pursuant to the Orders passed by the Special Court (TORTS)
the Company has allotted Nil (Previous year - 41,907) equity shares out of the
shares kept in abeyance of Rights Issue 1999.
Terms / rights attached
to equity shares
The Company has only one class of equity shares having par value of ` 10 per share. Each holder of equity shares is entitled to one vote per share. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend.
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
Equity shares held by
holding company/ ultimate holding company and/ or their subsidiaries/
associates
|
Particulars |
As at December 31, 2017 |
|
Ambuja Cements Limited, the Holding company# 9,39,84,120
(December 31, 2016 - 9,39,84,120, January 01, 2016 - Nil) Equity shares ` 10
each fully paid |
939.800 |
|
Holcim (India) Private Limited, the holding company# Nil
(December 31, 2016 - NIL, January 01, 2016 - 9,38,88,120) Equity shares ` 10
each fully paid |
0.000 |
|
Holderind Investments Ltd, Mauritius, the holding company
of Ambuja Cements Limited 84,11,000 (December 31, 2016 - 84,11,000, January
01, 2016 - 5,41,000) Equity shares ` 10 each fully paid |
84.100 |
Companies referred above are subsidiaries of LafargeHolcim Ltd, Switzerland, the ultimate holding company
Details of
shareholders holding more than 5% shares in the Company
|
Particulars |
31.12.217 |
|
|
|
No. of shares |
% holding |
|
Ambuja Cements Limited, the Holding company# |
9,39,84,120 |
50.05 |
|
Holcim (India) Private Limited, Holding company# |
-- |
-- |
|
Life Insurance Corporation of India |
1,94,05,142 |
10.33 |
There are no shares allotted as fully paid up by way of bonus shares or allotted as fully paid up pursuant to contract without payment being received in cash, or bought back during the period of five years immediately preceding the reporting date. There are no securities which are convertible into equity shares.
Note:
#The Company was a subsidiary of Holcim (India) Private
Limited. Pursuant to the amalgamation of Holcim (India) Private Limited into
Ambuja Cements Limited, effective August 12, 2016, the Company became a
subsidiary of Ambuja Cements Limited.
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1879.900 |
1,879.900 |
1879.500 |
|
(b) Reserves & Surplus |
91774.700 |
86438.800 |
82550.900 |
|
(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) |
93654.600 |
88318.700 |
84430.400 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
1198.600 |
|
(c)
Other long term liabilities |
5413.600 |
4473.700 |
4691.600 |
|
(d)
long-term provisions |
1420.300 |
1413.600 |
0.000 |
|
Total
Non-current Liabilities (3) |
6833.900 |
5887.300 |
5890.200 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
591.700 |
500.200 |
355.000 |
|
(b)
Trade payables |
18104.900 |
12569.300 |
8741.100 |
|
(c)
Other current liabilities |
29191.500 |
26600.100 |
22598.200 |
|
(d)
Short-term provisions |
511.900 |
520.200 |
6393.300 |
|
Total
Current Liabilities (4) |
48400.000 |
40189.800 |
38087.600 |
|
|
|
|
|
|
TOTAL |
148888.500 |
134395.800 |
128408.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
72012.500 |
74973.600 |
52847.800 |
|
(ii)
Intangible Assets |
397.700 |
275.900 |
2.000 |
|
(iii)
Capital work-in-progress |
2617.200 |
2608.200 |
23709.600 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
2301.500 |
2585.000 |
2745.500 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
5113.800 |
4885.500 |
10733.800 |
|
(e)
Other Non-current assets |
10267.700 |
8354.100 |
4659.300 |
|
Total
Non-Current Assets |
92710.400 |
93682.300 |
94698.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
12011.500 |
|
(b)
Inventories |
14039.500 |
12237.500 |
11886.000 |
|
(c)
Trade receivables |
6682.000 |
5361.000 |
4843.500 |
|
(d)
Cash and cash equivalents |
26954.000 |
19450.700 |
916.000 |
|
(e)
Short-term loans and advances |
8371.800 |
3544.000 |
3498.400 |
|
(f)
Other current assets |
130.800 |
120.300 |
554.800 |
|
Total
Current Assets |
56178.100 |
40713.500 |
33710.200 |
|
|
|
|
|
|
TOTAL |
148888.500 |
134395.800 |
128408.200 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
142001.900 |
125233.900 |
117968.300 |
|
|
|
Other Income |
1316.500 |
1283.400 |
1193.500 |
|
|
|
TOTAL |
143318.400 |
126517.300 |
119161.800 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
19825.200 |
15872.600 |
17397.800 |
|
|
|
Purchases of Stock-in-Trade |
8.400 |
25.200 |
1082.900 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
-149.000 |
169.900 |
0.500 |
|
|
|
Employees benefits expense |
8189.500 |
7546.000 |
7698.700 |
|
|
|
Power and fuel |
27144.500 |
21571.000 |
23940.500 |
|
|
|
Freight and forwarding expenses |
34509.700 |
26546.600 |
27230.000 |
|
|
|
Excise duty |
9155.900 |
15336.700 |
0.000 |
|
|
|
Self consumption of cement |
(61.300) |
(59.600) |
(93.200) |
|
|
|
Exception items |
0.000 |
428.100 |
1531.700 |
|
|
|
Other expenses |
24287.700 |
23488.200 |
25339.400 |
|
|
|
TOTAL |
122910.600 |
110924.700 |
104128.300 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
20407.800 |
15592.600 |
15033.500 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1023.000 |
826.300 |
673.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
19384.800 |
14766.300 |
14360.300 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
6401.200 |
6051.600 |
6520.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
12983.600 |
8714.700 |
7839.700 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
3829.100 |
2244.200 |
1924.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
9154.500 |
6470.500 |
5915.700 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
|
|
|
|
|
|
Basic |
48.75 |
34.46 |
31.51 |
|
|
|
Diluted |
48.63 |
34.37 |
31.43 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
17724.400 |
16518.100 |
2166.300 |
|
|
|
. |
|
|
Net Cash flow from operating activities |
15547.600 |
13801.000 |
14612.400 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
17.18 |
15.62 |
14.99 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
21.25 |
23.36 |
24.36 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
333.19 |
288.58 |
172.64 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.45 |
1.27 |
1.26 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.27 |
0.20 |
0.20 |
LEVERAGE RATIOS
|
PARTICULARS |
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.33 |
0.31 |
0.30 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.02 |
0.02 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.52 |
0.46 |
0.45 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.80 |
0.88 |
0.91 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
19.95 |
18.87 |
22.33 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
6.45 |
5.17 |
5.01 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
6.15 |
4.81 |
4.61 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
9.77 |
7.33 |
7.01 |
SOLVENCY RATIOS
|
PARTICULARS |
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.16 |
1.01 |
0.89 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
0.87 |
0.71 |
0.57 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.63 |
0.66 |
0.66 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.31 |
1.02 |
0.19 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.16 |
1.01 |
0.89 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR10/- |
|
|
|
|
Market Value |
INR 1332.50/- |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2015 |
31.12.2016 |
31.12.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
1879.500 |
1879.900 |
1879.900 |
|
Reserves & Surplus |
82550.900 |
86438.800 |
91774.700 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
84430.400 |
88318.700 |
93654.600 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
1413.600 |
1420.300 |
|
Short term borrowings |
355.000 |
500.200 |
591.700 |
|
Total
borrowings |
355.000 |
1913.800 |
2012.000 |
|
Debt/Equity
ratio |
0.004 |
0.022 |
0.021 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2015 |
31.12.2016 |
31.12.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
117968.300 |
125233.900 |
142001.900 |
|
|
|
6.159 |
13.389 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2015 |
31.12.2016 |
31.12.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
117968.300 |
125233.900 |
142001.900 |
|
Profit |
5915.700 |
6470.500 |
9154.500 |
|
|
5.01% |
5.17% |
6.45% |
LEGAL CASES
|
Case Details Bench:-Bombay |
||||||||
|
Presentation Date: 24.01.2018 |
||||||||
|
||||||||
|
|
||||||||
|
Petitioner:- The associated cement companies Responded: ACC Limited Prtn. Adv. : Pankaj M Patel Resp. Adv. : Hasresh Mehta and Co. (158) |
||||||||
|
District: Mumbai |
||||||||
|
Bench: SINGLE Status: Pre-Admission Category: WRIT PETITIONS (DIVISION BENCH) Next Date:- 25/06/2018 Stage: FOR ADMISSION Coram: HON'BLE SHRI JUSTICE A. K. MENON Last Date : 11/04/2018 Stage : FOR ADMISSION Last Coram:- |
||||||||
|
Act : Industrial Dispute Act, 1947.vb |
|
IN THE SUPREME
COURT OF INDIA CIVIL APPELATE
JURSIDICTION CIVIL APPEAL NO.2278 OF 2007 STATE OF CHHATTISGARH
& ANR. APPELLANT(S) VERSUS ACC LIMITED & ANR.
RESPONDENT(S) WITH CIVIL
APPEAL No.2279 OF 2007 CIVIL
APPEAL NO.2280 OF 2007 CIVIL APPEAL No.2281 OF
2007 O R D E R Civil Appeal
No.2278/2007 Pending consideration of the issue about the
legality of the cess which was sought to be recovered by the appellants from
the respondents, the respondents have paid the said cess under protest and
without prejudice to their rights and subject to the outcome of the issue
which was pending in this Court. This Court ultimately decided the said issue
in favour of the assessees in the case of District Mining Officer &
Ors. vs. Tata Iron and Steel Company & Anr. (2001) 7 SCC 358.
After this position the respondents herein filed writ petition in the High
Court for refund of the amount paid under protest and the said writ petition
has been allowed by the High Court vide order dated 23.02.2006. A perusal of
the said judgment shows that the only contention raised by the appellants was
that respondents had paid the said cess voluntarily. This is factually
incorrect as the amount of Rs.14 crores for payment of cess was deposited
under protest and without prejudice to their rights and contentions which is
clear from the covering letter dated 25.03.1997. We thus, do not find any
error in the impugned judgment. Consequently, this appeal is dismissed. The amount already deposited shall now be refunded to the
respondents within two months if not already refunded. Civil Appeal No.2279
& 2280/2007 In these appeals the respondents have not paid any
amount as they had objected to the payment raised by the appellants on
account of cess. In view of the judgment of this Court in District Mining
Officer & Ors. vs. Tata Iron and Steel Company & Anr. (2001)
7 SCC 358 such payment could not be made. These appeals are accordingly dismissed. Civil
Appeal No.2281/2007 In this case, we are informed the amount had
already been refunded on 24.06.2006. In view thereof, nothing really survives
for our consideration. This appeal is accordingly dismissed. ......................J. (A.K. SIKRI) .....................J. (ROHINTON FALI NARIMAN) NEW DELHI, MARCH 11, 2016. |
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 |
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 |
Yes |
|
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 |
C28388023 |
10192504 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
27/11/2009 |
27/11/2009 |
10/10/2014 |
3000000000.0 |
ASIAN BLDG.,
GROUND FLOOR, 17, R.KAMANI MARG,BALLARD ESTATE,MUMBAIMH400001IN |
|
2 |
B93501179 |
10145237 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
26/02/2009 |
29/07/2009 |
10/01/2014 |
2000000000.0 |
ASIAN BLDG., GROUND
FLOOR, 17, R.KAMANI MARG,BALLARD ESTATE,MUMBAIMH400001IN |
|
3 |
B59480319 |
80002316 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
29/12/2005 |
17/04/2006 |
10/10/2012 |
2500000000.0 |
ASIAN BLDG., GROUND
FLOOR, 17, R.KAMANI MARG,BALLARD ESTATE,MUMBAIMH400001IN |
|
4 |
B58630484 |
90218592 |
CITI BANK |
30/12/2004 |
- |
20/09/2012 |
2000000000.0 |
CITIGROUP
CENTREBANDRA-KURLA COMPLEX; BANDRA EASTMUMBAIMH400051IN |
|
5 |
B58418534 |
90217589 |
CANAR BANK |
18/06/1992 |
- |
10/09/2012 |
67500000.0 |
TAMRIND LANE;
BRANCHCALICUT HOUSE; FORTBOMBAYMH400023IN |
|
6 |
B58492059 |
90217419 |
CENTRAL BANK OF
INDIA |
17/07/1990 |
03/09/1992 |
07/09/2012 |
80000000.0 |
DOCUMENTATION CELL;
BOMBAY MAIN OFFICEM.G. ROAD; 1ST FLOORMUMBAIMH400023IN |
|
7 |
B56681208 |
90217618 |
INDUSTRIAL CREDIT
& INVESTMENT CORPORATION OF INDIA |
12/10/1992 |
- |
22/08/2012 |
400000000.0 |
163; BACKBAY
RECLAMATIONBOMBAYMH400020IN |
|
8 |
B57378341 |
90217895 |
THE INDUSTRIAL
CREDIT & INVESTMENT CORPORATION OF INDIA LTD. |
08/03/1995 |
- |
22/08/2012 |
263000.0 |
163; BACKBAY
RECLAMATIONMUMBAIMH400020IN |
|
9 |
B55898589 |
90217698 |
THE NEW INDIAN
ASSURANCE COMPANY LTD. (NIA) |
03/08/1993 |
11/11/1993 |
27/07/2012 |
12500000.0 |
NEW INDIAN
ASSURANCEMUMBAIMH400001IN |
|
10 |
B43696871 |
90216048 |
IL & FS TRUST
COMPANY LIMITED |
13/03/2003 |
13/03/2003 |
25/06/2012 |
500000000.0 |
IL&FS
FINANCIAL CENTRE; PLOT NO; C-22; G-BLOCKBANDRA KURLA COMPLE BANDRA EASTMUMBAIMH400051IN |
|
11 |
B42116145 |
90217689 |
NATIONAL INSURANCE
COMPANY LTD. |
24/06/1993 |
11/11/1993 |
06/06/2012 |
7500000.0 |
3; MIDDLETON
STREETCALCUTTAWB700001IN |
|
12 |
B39694682 |
90217319 |
ORIENTAL BANK OF
COMMERCE |
06/06/1989 |
29/09/1992 |
27/04/2012 |
15000000.0 |
DR. V.B. GANDHI
MARGFORTBOMBAYMHIN |
|
13 |
B33887985 |
90217902 |
BANK OF AMERICA |
27/03/1995 |
- |
24/02/2012 |
25000000.0 |
EXPRESS
TOWERNARIMAN POINTMUMBAIMH400021IN |
|
14 |
B32198616 |
80002317 |
INDUSIND BANK LIMITED |
19/06/2001 |
- |
06/02/2012 |
500000000.0 |
1ST FLOOR, MAMTA
HOUSE,231 S. V. ROAD, BANDRA (W),MUMBAIMH400050IN |
|
15 |
B33519901 |
80002315 |
INDUSIND BANK LTD. |
07/10/2002 |
15/04/2006 |
06/02/2012 |
1250000000.0 |
2401 GEN THIMMAYYA
ROADCONTONMENTPUNEMH411001IN |
|
16 |
B31977358 |
90217597 |
INDUSTRIAL CREDIT
& INVESTMENT CORPORATION OF INDIA |
23/07/1992 |
- |
01/02/2012 |
22300000.0 |
163; BACKBAY
RECLAMATIONBOMBAYMH400020IN |
|
17 |
B30984397 |
90217592 |
INDUSTRIAL DEVELOPMENT
BANK OF INDIA |
02/07/1992 |
- |
19/01/2012 |
340000000.0 |
IDBI TOWERCUFFE
PARADEBOMBAYMH400005IN |
|
18 |
B27240381 |
90217405 |
STATE BANK OF
INDIA |
10/05/1990 |
- |
07/12/2011 |
9181000.0 |
COMMERCIAL BRANCHJUSTICE
G.N. VAIDYA MARGMUMBAIMH400023IN |
|
19 |
B27128156 |
90217314 |
STATE BANK OF
INDIA |
10/05/1989 |
20/11/1991 |
07/12/2011 |
480000000.0 |
COMMERCIAL
BRANCHJUSTICE G.N. VAIDYA MARGMUMBAIMH400023IN |
|
20 |
B27132414 |
90217913 |
STATE BANK OF
INDIA |
15/05/1995 |
- |
07/12/2011 |
363200000.0 |
COMMERCIAL
BRANCHJUSTICE G.N. VAIDYA MARGMUMBAIMH400023IN |
CORPORATE INFORMATION
The Company, is a public company domiciled in India and was incorporated on August 01, 1936 under the provisions of the Companies Act, 1913 applicable in India. Its shares are listed on National Stock Exchange of India (NSE) and Bombay Stock Exchange (BSE) of India. The registered office of the Company is located at Cement House, 121 Maharshi Karve Road, Mumbai – 400020 India.
The Company is principally engaged in the business of manufacturing and selling of Cement and Ready mix concrete. The Company has manufacturing facilities across India and caters mainly to the domestic market.
ECONOMIC SCENARIO AND OUTLOOK
The year 2017 was marked by a number of key structured initiatives to build strength across micro economic parameters for sustainable growth. Despite a tepid start, economic growth accelerated during the year. Consumption-related indicators have strengthened and industrial output has been higher in recent months.
GDP growth, primarily fuelled by consumption, is expected to touch a respectable mark of 7.5% in 2019, up from 6.5% in the previous year.
The 2018 Global Economic Prospects (GEP) released by the World Bank, estimates India’s GDP growth to remain steady at ~7.5% in the long term.
The wholesale price inflation rate rose to ~3.5% in 2017 compared to ~0.1% in 2016, following a rise in global fuel and commodity prices, near flat domestic demand conditions and an increase in food inflation. Consumer price inflation rate was lower at ~3.3% in 2017 as compared to ~4.96% in 2016. During the year 2017, manufacturing growth is estimated at ~4.8%, while growth in agriculture, mining and construction is expected to be 4.3%, 6.9% and 1.8% respectively.
The increase in consumption demand, hardening of crude oil prices and higher demand for housing are some of the factors that will push inflation upwards.
After a considerable period of time, Moody’s has upgraded India’s sovereign rating from Baa3 to Baa2 keeping a positive outlook, while opining that the reforms introduced by the Government will enable the country to perform better than its peers over the medium term. Investments are expected to flow in sync with a rising trend in capacity utilization, and the re-capitalization of banks. Even though the budget for fiscal 2018-19 holds potential to foster inclusive and distributive growth, the engine of economic growth is estimated to be powered by factors external to the budget, including a normal monsoon.
Budget initiatives are expected to raise the rural demand and bolster economic growth with initiatives such as Minimum Support Price (MSP) for farmers set at 1.5x the cost of production, export impetus on agri-produce, increased allocation of `14.4 lakh crore for rural housing and infrastructure and a 26% increase in funding to the Pradhan Mantri Krishi Sinchayee Yojna (PMKSY). Additionally, private consumption expenditure is expected to increase with the implementation of the Seventh Pay Commission hike at the State level. Although most of the impact of Government investment will come in from the States, the Central Government is expected to increase its investment from 2.7% in fiscal 2018 to 7.2% in 2019. The Government’s consumption expenditure is unlikely to show any radical improvement. Export growth is estimated to pick up, with agriculture, leather, footwear and textiles being the primary drivers. The reduction in corporate tax rate is expected to fuel the growth of small and medium enterprises (SMEs).
CEMENT INDUSTRY - OUTLOOK AND OPPORTUNITIES
Cement industry grew ~6% in the year 2017 as against 5.1% in the previous year. The largest share of demand came from the housing sector (~66%), followed by the infrastructure (~18%) and commercial (16%) sectors.
The total installed capacity of the cement industry in India is ~465 million tonnes (MT). The industry is currently producing ~301 MT for meeting its domestic demand and ~4 MT for its export requirement.
Cement sector’s growth in 2017 was largely on account of continued support from the Government led infrastructure and construction initiatives along with elimination of local taxes and flexible inter-state movement of cement due to implementation of GST.
The Government during the year, continued with its focus on rural development, affordable housing, setting up of smart cities, as well as infrastructure by laying thrust on construction of cement concrete roads, highways through its magnum “Bharatmala Project”, one of the biggest highway construction project. This also includes economic corridors’ development, coastal and port connectivity roads, border and international connectivity roads, expressway etc. Consequently, the demand for cement in 2018 is expected to increase from 6% to ~7%.
Cement industry is grappling with sub-optimal effective capacity utilization of ~70%, with capacity overhang of more than 100 MT. While cement plants in the northern, central and eastern regions of the country produced at levels above ~85% to 90% of capacity, excess capacity in the southern region has inhibited the industry’s average capacity utilization. Intense competition and not enough demand pull, will continue to lead to excess capacity in 2018. However, this situation is expected to correct itself in 2019 with the increased outlays on housing, infrastructure development and agri-sector initiatives.
The over five-fold increase in the outlay on Pradhan Mantri Awas Yojana - Urban (PMAY-U) to INR 315000.000 million, is expected to revive urban housing demand, while generating a 30% share of the overall demand for cement. Infrastructure development outlay for highways, roads and railways has increased by 11% and 22% respectively. This will boost demand for cement from the infrastructure sector, which is estimated to account for 20% of cement demand. A social welfare surcharge of 10%, will replace the existing 3% education cess on customs duty, which will marginally inflate the cost of imported inputs such as petcoke and non-coking coal products.
STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE
QUARTER ENDED 31.03.2018
[INR
IN MILLION]
|
PARTICULARS |
3
Months ended |
|
|
31.03.2018 |
|
|
[Unaudited] |
|
1. Income from Operations |
35569.900 |
|
Net Sales/income from operations |
676.000 |
|
Other Operating Income |
36245.900 |
|
Total revenue from operations (net) |
468.100 |
|
Other income |
36714.000 |
|
Total income |
|
|
|
|
|
Expenses |
|
|
Cost of materials consumed |
5713.100 |
|
Purchases of stock-in trade |
20.700 |
|
Changes in inventories of finished goods. work-in-progress
and stock in trade |
(67.400) |
|
Employee benefits expense |
1982.300 |
|
Power and Fuel |
7487.700 |
|
Freight and Forwarding |
10023.100 |
|
Excise Duty |
0.000 |
|
Finance Costs |
193.100 |
|
Depreciation and Amortization Expenses |
1474.100 |
|
Other Expenses |
6175.400 |
|
Total expenses |
33002.100 |
|
|
|
|
Profit before tax |
3711.900 |
|
|
|
|
Tax expenses |
916.100 |
|
Current tax |
344.800 |
|
Deferred tax charges/(Credit) |
1260.900 |
|
|
|
|
Profit for the period |
2451.000 |
|
|
|
|
Other
Comprehensive Income |
|
|
Other Comprehensive Income not be reclassified to profit
or loss |
|
|
Re-measurement gains on defined benefit plans |
43.800 |
|
Income tax effect |
(15.300) |
|
Total Comprehensive
Income for the period net of tax |
(28.500) |
|
Total Comprehensive
Income |
2479.500 |
|
|
|
|
Earnings
per share (before extraordinary items) of INR 10/- each (not annualized): |
|
|
(a)
Basic |
13.05 |
|
(b)
Diluted |
13.02 |
SEGMENTWISE REVENUE, RESULTS, ASSETS AND LIABILITIES
|
Particulars |
3
Months ended |
|
|
31.03.2018 |
|
[Unaudited] |
|
|
1. Segment
Revenue |
|
|
Cement |
33569.800 |
|
Ready Mix Concrete |
3316.800 |
|
Total |
36886.600 |
|
Less : Inter Segment Revenue |
640.700 |
|
Net Sales |
36245.900 |
|
|
|
|
2.
Segment Result |
|
|
Cement |
3218.400 |
|
Ready Mix Concrete |
324.700 |
|
Total |
3543.100 |
|
Less : Interest |
193.100 |
|
Other Unallowable Expenditure
net off Unallowable |
(131.400) |
|
Add: Interest and Dividend
Income |
230.500 |
|
Profit
before tax |
3711.900 |
|
|
|
|
3.
Capital Employed (Segment Assets) |
|
|
Cement |
118160.000 |
|
Ready Mix Concrete |
3653.000 |
|
Unallowable |
26597.300 |
|
Total
Assets |
148410.3000 |
|
|
|
|
4. Capital Employed
(Segment Liabilities) |
|
|
Cement |
37179.000 |
|
Ready Mix Concrete |
24586.600 |
|
Unallowable |
12638.600 |
|
Total
Liabilities |
52276.200 |
FIXED ASSETS:
Tangible Assets:
- Freehold Land
- Leasehold Land
- Buildings
- Plant and Machinery
- Roads Bridges and Fences
- Railway Sidings
- Rolling Stock
- Furniture Fixtures and Equipment’s
- Vehicles
Intangible Assets:
- Computer Software
- Mining Right
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 68.21 |
|
UK Pound |
1 |
INR 91.43 |
|
Euro |
1 |
INR 80.24 |
INFORMATION DETAILS
|
Information
Gathered by : |
ARCH |
|
|
|
|
Analysis Done by
: |
VIK |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.