KAMDHENU ISPAT LIMITED - Securities and Exchange Board of India

More documents

Recommendations

Info

Current Assets Current assets consist of inventories, debtors, cash and bank balances, and loans and advances. Current assets have generally increased in line with the growth of our business activities. Current assets increased by Rs. 1131.25 Lac, or 93.53%, from Rs. 1209.43Lac as at Fiscal 2004 to Rs. 2340.68 Lac as at fiscal 2005, due to increases in inventories (Rs. 235.10 Lac), loans and advances (Rs. 130.71 Lac), and increase in cash and bank balances (Rs. 18.98Lac) & s. debtors (Rs. 747.46 Lac). Inventories made up 24.59% of total current assets as at fiscal 2005. Inventories comprise mainly Raw material , Stores & Spares, Work in progress, finished and semi finished goods. The overall increase in the inventory from Rs 341.53 Lac in the fiscal 2004 increased by Rs. 234.10 Lac, to Rs. 575.63 Lac in the fiscal 2005. Inventories turnover period remains almost constant at 18-19 days in the fiscal year 2005 and fiscal year 2004. Debtors accounted for 57.19% of total current assets as at fiscal year 2005. Debtors increased from Rs. 591.30 Lac as at fiscal year 2004 to Rs. 1338.76 million as at fiscal year 2005. Debtors turnover remains almost constant from 30-33 days. Cash and bank balances accounted for only 4.40% of total current assets as at fiscal year 2005. There is marginal increase of Rs. 18.98 Lac in the fiscal year 2005. Loans and advances accounted for 13.80% of total current assets as at fiscal year 2005. Loans and advances increased from Rs. 192.45 Lac as at fiscal year 2004 to Rs. 323.16 Lac as at fiscal year 2005. Current assets decreased by Rs. 115.53 Lac, or 8.71%, from Rs. 1324.76 Lac as at March 31, 2003 to Rs. 1209.43 Lac as at March 31, 2004 mainly due to decrease in inventories by Rs. 215.94 Lac, Inventories made up 28.23% of total current assets as at March 31, 2004. The decrease in inventories from Rs. 557.47 lac as at March 31, 2003 to Rs. 341.53 Lac as at March 31, 2004 . Our inventories turnover period decreased from 44 days to 19 days. Debtors accounted for 48.89% of total current assets as at March 31, 2004. Debtors increased significantly in comparison of fiscal year 2003. Debtors turnover decreased from 36 days to 26 days. Cash and bank balances accounted for 6.95% of total current assets as at March 31, 2004. Cash and bank balances decreased from Rs.101.80 Lac as at March 31, 2003 to Rs. 84.15lac as at March 31, 2004. Loans and advances accounted for 15.91% of total current assets as at March 31, 2004. Loans and advances increased from Rs. 129.02 Lac as at March 31, 2003 to Rs.192.45 Lac as at March 31, 2004. Current Liabilities and Provisions Current liabilities comprise Sundry Creditors against goods, Expenses Payable, other payables, Gratuity Payable and tax provisions. Current liabilities have increased marginally as compared with fiscal 2004 and provision for taxation increased in line with the growth in our business activities. Current liabilities and provisions increased by 74.52% from Rs. 736.94 Lac as at fiscal year 2004 to Rs. 1286.11lac as at fiscal year 2005. Current liabilities and provisions decreased by Rs. 195.69 lac, or 20.98%, from Rs. 932.63 Lac as at March 31, 2003 to Rs.736.94 Lac as at March 31, 2004. Non-Current Liabilities Non-current liabilities consist of long-term secured loans, long-term unsecured loans and deferred tax liabilities. Non current Liabilities has increased marginally in fiscal year 2005 Non-current liabilities increased by Rs. 25.13 Lac, or 50.27%, from Rs. 499.50 lac as at fiscal year 2004 to Rs. 750.80 lac as at fiscal year, 2005 mainly due to increase in long-term secured loans of Rs. 48.77 lac from Rs. 340.22 lac as at fiscal year 2004 to Rs. 388.88 lac as at fiscal year 2005 , increase in long-term unsecured loans of Rs. 198.16 lac from Rs. 82.45 lac as at fiscal year 2004 to Rs. 280.61 Lac as at fiscal year 2005 and increases in deferred tax liabilities of Rs. 4.37 lac from Rs. 76.83 lac as at fiscal year 2004 to Rs. 81.20 lac as at fiscal year 2005. Non-current liabilities increased by Rs. 100.08 lac, or 25.03%, from Rs. 399.42 lac as at March 31, 2003 to Rs. 499.50 lac as at March 31, 2004 due to increase in long-term secured loans of Rs. 86.59 lac Net Worth Net worth increased by Rs. 102.21 lac or 16.48% from Rs 619.85 lac as at fiscal year 2004 to Rs. 722.06 lac as at fiscal year 2005. Net worth increased by Rs. 244.32 lac, or 65.06% from Rs.375.53 lac as at March 31, 2003 to Rs. 619.85 lac as at March 31, 2004 . 96
Information required as per clause 6.10.5.5(a) of the SEBI Guidelines: a. Unusual or infrequent events or transactions: There have been no unusual or infrequent transactions that have taken place b. Significant Economic changes that materially affected or are likely to affect income from continuing operations: Volatility in foreign exchange rates may have an inflationary effect on cost of imports. However, considering the low amount of imports, the effect of foreign exchange rate variations on our business is limited. Except the above, there are no significant economics changes that materially affect or likely to affect income from continuing operations. c. Known trends or uncertainties Apart from the risks as disclosed in this Prospectus, there are no other known trends or uncertainties that have had or are expected to have a material adverse impact on sales, revenue or income form continuing operations. d. Future relationship between costs and revenue The expansion of the current operations would enable the Company to procure raw materials on more competitive terms from suppliers. This would in turn result in over all reduction in cost and help the Company to achieve economies of scale. e. Reason for increase in sales/revenue The increase in sales is mainly due to increased volume. f. Total turnover of the Industry Please refer to the Para on “Industry Data” referred on page [·] of this Prospectus. g. New products introduced in the year 2005 We have not introduced any new products except for enhanced and improved version of existing products. h. Seasonality of business None of the Company’s products sold are seasonal in nature. i. Over dependence on Single supplier/Customer The Company sources its raw materials from a number of suppliers and is not under threat from excessive dependence on any single supplier. Also, the Company is not excessively dependent on a single customer for its sales. j. Competitive conditions The Company has been strengthening its position in the product lines in which it is operating. The Company also has been expanding its markets and customer base in the local and wish to explore international market. All these things have been helping the Company to stand against the competition. 97
Page 1 and 2:
KAMDHENU ISPAT LIMITED DRAFT PROSPE
Page 3 and 4:
DEFINITIONS AND ABBREVIATIONS Gener
Page 5 and 6:
Abbreviations Abbreviation Full For
Page 7 and 8:
RISK FACTORS An investment in equit
Page 9 and 10:
mentioned under Class 1 to 42 cover
Page 11 and 12:
(b) Any disruption/ discontinuance
Page 13 and 14:
affect our operating results. We ar
Page 15 and 16:
The central and state tax scheme in
Page 17 and 18:
SUMMARY The following summary is qu
Page 19 and 20:
THE ISSUE Equity Shares offered by
Page 21 and 22:
of the Stabilisation Period allot,
Page 23 and 24:
For the year ended August March Mar
Page 25 and 26:
LEGAL ADVISOR TO THE ISSUE Luthra &
Page 27 and 28:
2. Capital Buildup: The existing sh
Page 29 and 30:
B. Promoter Group 1. Saurabh Agarwa
Page 31 and 32:
Sl. Name of Date of Consid- No. of
Page 33 and 34:
Sl. Name of Date of Consid- No. of
Page 35 and 36:
7. The Pre-issue and Post-issue sha
Page 37 and 38:
(b) Our top ten shareholders and sh
Page 39 and 40:
OBJECTS OF THE ISSUE The proceeds f
Page 41 and 42:
BASIS FOR ISSUE PRICE QUALITATIVE F
Page 43 and 44:
STATEMENT OF TAX BENEFITS The Compa
Page 45 and 46:
loss, such long -term capital loss
Page 47 and 48:
Benefit available to Mutual Funds I
Page 49 and 50:
Restrictions in external trade, bot
Page 51 and 52:
to compete with the likes of China,
Page 53 and 54:
III. Flat Products Flat products in
Page 55 and 56:
· In China and other Asian countri
Page 57 and 58:
BUSINESS OVERVIEW Kamdhenu Ispat Li
Page 59 and 60:
PROCESS PROCESS FLOW CHART FOR PROD
Page 61 and 62: POWER The Company sources Power fro
Page 63 and 64: The sponge iron is one of the raw m
Page 65 and 66: We help them to get right people to
Page 67 and 68: 23. A.S. CEMENT INDUSTRIES, Patiala
Page 69 and 70: PROPERTY A. Properties owned by the
Page 71 and 72: S No. 6. 7. 8. Date & Tenure Name &
Page 73 and 74: OUR INDEBTEDNESS Sr. No 1 Lender &
Page 75 and 76: Main Objects The main objects of th
Page 77 and 78: OUR MANAGEMENT As per the Articles
Page 79 and 80: C. MR. SUNIL KUMAR AGARWAL Designat
Page 81 and 82: Company Secretary Secretarial & Leg
Page 83 and 84: PROMOTERS OUR PROMOTERS MR. SATISH
Page 85 and 86: 2. and accessories, automobile part
Page 87 and 88: The Board of Directors Kamdhenu Isp
Page 89 and 90: Annexure - II Statement of Assets a
Page 91 and 92: 7 The company is manufacturing CTD/
Page 93 and 94: Annexure - VII Performance Ratios:
Page 95 and 96: Principal Terms of Sanctioned Loans
Page 97 and 98: Financial Statements of Group Compa
Page 99 and 100: The Board of Directors of the Compa
Page 101 and 102: List of Shareholders as on 30.9.200
Page 103 and 104: MANAGEMENT’S DISCUSSION AND ANALY
Page 105 and 106: DEPRECIATION Depreciation on fixed
Page 107 and 108: of excise duty was 8% thereafter up
Page 109 and 110: Administrative and Other Expenses W
Page 111: Cost Of Goods Traded In The company
Page 115 and 116: SL. NO. 5 6 7 8 9 10 11 12 ASSESSME
Page 117 and 118: 3.2 CENTRAL EXCISE Commissioner of
Page 119 and 120: 4.2 M/s. Kamdhenu Ispat Limited vs.
Page 121 and 122: II Outstanding litigations involvin
Page 123 and 124: Sales Tax ASSESSMENT YEAR PARTICULA
Page 125 and 126: 11. The Company has obtained consen
Page 127 and 128: BEHALF AND TOWARDS THIS PURPOSE, TH
Page 129 and 130: Public Issue expenses are estimated
Page 131 and 132: ISSUE INFORMATION Terms of the Issu
Page 133 and 134: Applications by Hindu Undivided Fam
Page 135 and 136: Payment Instructions 1. Payments sh
Page 137 and 138: 5. Investors can contact the Compli
Page 139 and 140: for public subscription and the bal
Page 141 and 142: POWER TO MODIFY RIGHT 11. (i) If at
Page 143 and 144: without any deduction or allowance
Page 145 and 146: there be no such Chairman or if at
Page 147 and 148: 69. The Director shall not be requi
Page 149 and 150: fit and any such appointment may (i
Page 151 and 152: present and entitled to vote there
Page 153 and 154: MATERIAL CONTRACTS AND DOCUMENTS FO
Page 155: DECLARATION All the relevant provis
show all

KAMDHENU ISPAT LIMITED - Securities and Exchange Board of India

Create successful ePaper yourself

Delete template?

Save as template?