subject: disclosure document pursuant to sebi circular ... · kolkata - 700107 14/11/2016 himadri...
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To Date: 26.03.2020
BSE Limited
P J Towers, Dalal Street
Mumbai - 400001
India
Subject: Disclosure Document pursuant to SEBI circular dated October 22, 2019 on “Framework
for listing of Commercial Paper” as amended from time to time.
Ref: Listing of 1000 unit of Commercial Paper of face value of Rs. 5,00,000/- each carrying interest
rate 6.00% p.a
Dear Sir/ Madam,
Pursuant to SEBI circular dated October 22, 2019 on “Framework for listing of Commercial Paper” as
amended from time to time and BSE Circular dated 26 December 2019, we are enclosing herewith
Disclosure Document of aforementioned Commercial Paper to be listed on BSE Ltd.
We request you to kindly take on record the same.
Thanking You,
Yours faithfully
For Himadri Speciality Chemical Ltd
Company Secretary &
Compliance Officer
ACS: 29322
Page 1 of 15
Annexure I
Disclosures to be provided along with the application for listing
1. Issuer details:
1.1. Details of the issuer:
(i) Name: Himadri Speciality Chemical Ltd
Address: 23A Netaji Subhas Road, 8th Floor, Room No 15, Kolkata – 700 001
CIN: L27106WB1987PLC042756
PAN: AAACH7475H
(ii) Line of business: Manufacturer of carbon material & chemicals
(iii) Managing Director & Chief Executive Officer – Mr. Anurag Choudhary
Chief Financial Officer – Mr. Kamlesh Kumar Agarwal
1.2. Details of the directors:
Name,
Designation and
DIN
Age
(years)
Address Director
Since
List of Other Directorships
Name: Mr. Shyam
Sundar Choudhary
Designation: Whole-
Time Director
DIN: 00173732
72
Years
400 Block-G, New
Alipore, Kolkata -
700053
28/07/1987
Himadri Power Limited,
Sri Agro Himghar Limited,
Tuaman Engineering Limited,
Liberty Projects Private
Limited,
Canvas Realtors Private
Limited,
Floret Developers Private
Limited,
Satadru Developers Private
Limited,
Ninestar Realty Private
Limited,
Bluebell Infracon Private
Limited.
Name: Mr. Bankey
Lal Choudhary,
Designation:
Executive Chairman
DIN: 00173792.
66
Years
400 Block-G, New
Alipore Kolkata -
700053
28/07/1987
Sri Agro Himghar Limited;
Himadri Power Limited;
Himadri Credit & Finance Ltd;
Motovolt Mobility Private
Limited
Name: Mr. Vijay
Kumar Choudhary
Designation: Whole-
Time Director
DIN: 00173858
63
Years
400 Block-G, New
Alipore Kolkata-
700053
28/07/1987
Sri Agro Himghar Limited;
Himadri Power Limited;
Suraksha Nirman Private
Limited;
Dreamway Developers Private
Limited;
Sukhisansar Developers Private
Limited; Dripti Projects Private
Limited; Motovolt Mobility
Private Limited
Page 2 of 15
Name: Mr. Anurag
Choudhary
Designation:
Managing Director &
CEO
DIN: 00173934
47
Years
400 Block-G, New
Alipore, Kolkata -
700053
14/08/2019
Himadri Credit & Finance Ltd,
Himadri E-Carbon Limited,
Himadri United Motors Private
Limited,
Sri Agro Himghar Limited,
Perfect Hi-Rise Private
Limited,
Pujita Merchandise Pvt Ltd,
Sampoorna Merchandise Pvt
Ltd,
Himadri Industries Private
Limited,
Peaklevel Infrastructure Private
Limited,
Modern Hi-Rise Private
Limited,
Himadri Real Estate Private
Limited,
Anatahan Infrastructure Private
Limited,
Next Generation
Condominiums Pvt Ltd,
AAT Techno-Info Limited,
Salasar Management Limited,
Raghupati Consultants
Limited,
Raghu Management Limited.
Name: Mr. Amit
Choudhary
Designation: Whole-
Time Director
DIN: 00152358
44
Years
400 Block-G, New
Alipore, Kolkata-
700053
14/08/2019
Himadri E-Carbon Limited,
Himadri United Motors Private
Limited,
Himadri Ujjwal Motors Private
Limited,
Perfect Hi-Rise Private
Limited,
Swarnalekha Developers
Private Limited,
Trimurti Merchandise Pvt Ltd,
Himadri Industries Private
Limited,
Sri Siromani Dealers Pvt Ltd,
Modern Hi-Rise Private
Limited, Himadri Real Estate
Private Limited,
Padmavati Estates Pvt Ltd,
Bluemoon Realcon Private
Limited,
Hemaprabha Developers
Private Limited,
Next Generation
Condominiums Pvt Ltd,
AAT Techno-Info Limited,
Salasar Management Limited,
Rameshwar Consultants
Limited
Page 3 of 15
Name: Mr. Tushar
Choudhary
Designation: Whole-
Time Director,
DIN: 00174003
43
Years
400 Block-G, New
Alipore Kolkata -
700053
14/08/2019
Himadri Credit & Finance Ltd,
Himadri E-Carbon Limited,
Himadri United Motors Private
Limited,
Himadri Ujjwal Motors Private
Limited,
Swarnalekha Developers
Private Limited,
Trimurti Merchandise Pvt Ltd,
Sampoorna Merchandise Pvt
Ltd,
Himadri Industries Private
Limited,
Next Generation Traders Pvt
Ltd,
Lotus Villa Private Limited,
Modern Hi-Rise Private
Limited,
Himadri Real Estate Private
Limited,
Padmavati Estates Pvt Ltd,
AAT Techno-Info Limited,
Salasar Management Limited,
Gopal Management Limited,
Sitaram Management Limited;
Motovolt Mobility Private
Limited
Name: Mr. Sakti
Kumar Banerjee
Designation: Non –
Executive Independent
Director
DIN: 00631772
75
Years
A-4/6 Baitalik,
Kmda Housing
Complex Hiland
Park,
Baghajatin,Panchasa
yar Kolkata- 700094
11/07/2006
-
Name: Mr. Hardip
Singh Mann
Designation: Non –
Executive Independent
Director
DIN: 00104948
67
Years
F-108, Sector-56
Noida- 201301
14/11/2011
-
Name: Mr. Santimoy
Dey
Designation: Non –
Executive independent
Director
DIN: 06875452
61
Years
Kaikala, Hooghly-
712405
27/05/2014
IFFCO-TOKIO Insurance
Services Limited
Name: Mr. Hanuman
Mal Choraria
Designation: Non –
67
Years
565/1 S K Deb Road
Sri Krishna Vatika
3rd Floor Flat 3 G
Kolkata- 700048
11/08/2014
Shyam Steel Industries
Limited;
Senco Gold Limited;
Oswal Construction Private
Page 4 of 15
Executive Independent
Director
DIN: 00018375
Limited;
Saibaba Professional
Consultants Private Limited; H.
M. Choraria & Consultants
Private Limited;
Ossian Home Services Private
Limited;
Seeka Dealcomm Private
Limited;
Anuvart Dealcomm Private
Limited;
Sresht Barter Private Limited;
Ajitnath Builders Private
Limited
Name: Mr. Santosh
Kumar Agrawala
Designation: Non –
Executive
Independent Director,
DIN: 00364962
64
Years
Urbana, BL-T-7, 34TH-
FR, FL- 3404, 783
Anandapur Madurdaha,
LP- 13/3/12,
Kolkata - 700107
14/11/2016
Himadri Credit & Finance Ltd,
Ganges Infotech Private
Limited
Name: Ms. Sucharita
Basu De
Designation:
Independent Woman
Director
DIN: 06921540
44
Years
Bougain Villae, 2nd
Floor, Flat - 2a 11b,
Burdwan Road,
Alipore Kolkata-
700027
01/04/2019
Himadri Credit & Finance Ltd
13. Details of change in directors in last three financial years including any change in the current year:
Name,
designation and DIN
Date of
appointment
Date of cessation (in
case of resignation)
Remarks(viz. reasons
for change etc)
Name: Ms. Sucharita Basu De
Designation: Independent
Woman Director
DIN: 06921540
01/04/2019
- Appointment
Name: Mr. Anurag Choudhary
Designation: Managing
Director & CEO
DIN: 00173934
14/08/2019 - Appointment
Page 5 of 15
Name: Mr. Amit Choudhary
Designation: Whole-Time
Director
DIN: 00152358
14/08/2019 - Appointment
Name: Mr. Tushar Kumar
Choudhary
Designation: Whole-Time
Director,
DIN: 00174003
14/08/2019 - Appointment
Name: Mr. Santimoy Dey
Designation: Non –Executive
independent Director
DIN: 06875452
24/09/2019 Re-appointed as Independent
Director for second term of
five years.
Name: Mr. Hanuman Mal
Choraria
Designation: Non –Executive
Independent Director
DIN: 00018375
24/09/2019 Re-appointed as Independent
Director for second term of
five years.
Name: Mr. Bankey Lal
Choudhary,
Designation: Executive
Chairman
DIN: 00173792.
14/08/2019 Appointed as Whole Time
Director for the period from
14 August 2019 to 31 March
2024,
Name: Mr. Sakti Kumar
Banerjee
Designation: Non –Executive
Independent Director
DIN: 00631772
01/04/2019 Re-appointed as Independent
Director for second term of
five years.
Name: Mr. Hardip Singh Mann
Designation: Non –Executive
Independent Director
DIN: 00104948
01/04/2019 Re-appointed as Independent
Director for second term of
five years.
Name: Ms. Rita Bhattacharya
Designation: Non –Executive
Nominee Director
DIN: 03157199
-
27/12/2019
Cessation
Page 6 of 15
Name: Mr. Suryakant
Balkrishna Mainak
Designation: Non –Executive
independent Director
DIN: 02531129
03/08/2017
15/02/2020 Appointment & Cessation
1.4. List of top 10 holders of equity shares of the company as on 13.03.2020:
Sl.no Name and category of shareholder Total no. of
equity shares
No of shares
in demat
form
Total
shareholding as
% of total no. of
equity shares
1. Modern Hi-Rise Private Limited
Category: Promoter Body
182599607 182599607 43.60
2. BC India Investments
Category: Foreign Company
103178860 103178860 24.64
3 Himadri Credit and Finance Ltd
Category: Promoter Body
9487000 9487000 2.27
4 Franklin India Smaller Companies Fund
Category: Mutual Fund
9156106 9156106 2.19
5 Dilip Kumar Lakhi
Category: Resident Individual
5577958 5577958 1.33
6 Vijay Kumar Choudhary
Category: Promoters
3266640 3266640 0.78
7 Shyam Sundar Choudhary
Category: Promoters
3234280 3234280 0.77
8 Investor Education and Protection Fund
Authority, Ministry Of Corporate Affairs
Category: NA
3097949 3097949 0.74
9 Anant Udyog LLP
Category: Limited Liability Partnership
1505000 1505000 0.36
10 Damodar Prasad Choudhary
Category: Promoters
1484280 1484280 0.35
1.5. Details of the statutory auditor:
Name and address Date of appointment Remarks
B S R & Co. LLP
Statutory Auditors
Address: Godrej Waterside, Unit No. 603 6th
Floor, Tower 1, Plot No 5, Block – DP,
Sector V, Salt Lake,
Kolkata - 700091
22 September 2017 Reappointed for the term of
five years.
Page 7 of 15
1.6. Details of the change in statutory auditors in last three financial years including any
change in the current year:
Name, address Date of
appointment/ resignation
Date of cessation (in
case of resignation)
Remarks (viz.
reasons for
change etc)
NA
1.7. List of top 10 debt securities holders (as on 13.03.2020)
S.
No.
Name of
holder
Category Face value Holding of debt securities as
a percentage of total
debt securities outstanding
of the issuer
1 LIFE INSURANCE
CORPORATION OF
INDIA
Public Sector
Financial
Institution
400 33.33
2 LIFE INSURANCE
CORPORATION OF
INDIA
Public Sector
Financial
Institution
10,00,000 66.67
1.8. List of top 10 CP holders (as on 13.03.2020)
SL.
No.
Name of CP
holder
Category
of CP
holder
Face value of
CP
holding
CP holding percentage as a
percentage of total
CP outstanding of the issuer
1 HDFC BANK
LIMITED
BANK 60,00,00,000.00 100
2. Material Information:
2.1. Details of all default/s and/or delay in payments of interest and principal of CPs, (including
technical delay), debt securities, term loans, external commercial borrowings and other financial
indebtedness including corporate guarantee issued in the past 5 financial years including in the
current financial year - NIL
2.2. Ongoing and/or outstanding material litigation and regulatory strictures, if any.
In the opinion of the Board there is no material information pertaining to material litigation
for the purpose of disclosure of Company’s CP Programme
2.3. Any material event/ development having implications on the financials/credit quality including
any material regulatory proceedings against the Issuer/promoters, tax litigations resulting in
material liabilities, corporate restructuring event which may affect the issue or the investor’s
decision to invest / continue to invest in the CP. -
To prevent & contain the spread of COVID-19, the Company has decided to temporarily close
its manufacturing operations and offices in India with effect from 23 March 2020 as per the
directions issued by Government of West Bengal and Government of India. In view of the
prevailing force majeure conditions, financial impact of the above is not ascertainable at this
stage. The above information has been already submitted at the stock exchanges.
Page 8 of 15
3. Details of borrowings of the Company, as on the latest quarter end:
3.1.
(A) : Details of debt securities
Series ISIN Teno
r/Peri
od of
Matu
rity
Coup
on
Amount
Issued
(Rs in
Crore)
Date of
Allotment
Redempt
ion date
Credit
Rating
Secured/
Unsecure
d
Security Other
Details
viz
Details
of IPA,
Details
of CRA
1 INE019
C07023
10
YEARS
10.00% 100.00 24/08/2010 24/08/2020 'AA-' Secured Equitable
Mortgage on land
situated at Mouza
Maharaj Pura
Dist - Mahsana
(Gujarat), First
Pari Passu charge
on immovable
properties
(Leasehold Land)
situated at
Mahistikry and
hypothecation of
all movable
property, plant
and equipment
(including plant
and equipment)
of the Company.
CRA:-
ICRA
Limited
&
CARE
Ratings
Limited
2 INE019
C07031
10
YEARS
12.50% 50.00 29/10/2013 28/10/2020 ' AA-' Secured Equitable
Mortgage on land
situated at Mouza
Maharaj Pura
Dist - Mahsana
(Gujarat), First
Pari Passu charge
on immovable
properties
(Leasehold Land)
situated at
Mahistikry and
hypothecation of
all movable
property, plant
and equipment
(including plant
and equipment)
of the Company.
CRA:-
ICRA
Limited
&
CARE
Ratings
Limited
Page 9 of 15
(B): Details of CPs
3.2. Details of secured/ unsecured loan facilities/ bank fund based facilities/ rest of the borrowing,
if any, including hybrid debt like foreign currency convertible bonds (FCCB), optionally
convertible debentures / preference shares from banks or financial institutions or financial
creditors, as on 13.03.2020:
Lender’ s
name/ Name
of the Bank
Nature of
facility/
instrume nt
Amount
sanctio
ned (Rs
in Crore)
Principal
Amount
outstanding
(Rs in Crore)
Repay
ment date /
schedul e
Securit y, if applica
ble
Credit
rating, if
applica
ble
Asset
classification
Axis Bank
Limited
Fund Based
Working
Capital Limit
25.00
- ON
DEMAND
Secured by
hypothecation on
currents assets of the
Company both
present and future on
pari passu basis.
Further, working
capital loan from
Axis Bank is also
secured by
subservient charge on
moveable property,
plant and equipment
of the Company.
AA- STANDARD
Bank of
Baroda
Fund Based
Working
Capital Limit
200.00
4.06 ON
DEMAND
Working Capital
borrowings from
banks are secured by
hypothecation on
currents assets of the
Company both
present and future on
pari passu basis.
AA- STANDARD
Series ISIN Tenor
/Perio
d of
Matur
ity
Coupo
n
Amount
Issued
(Rs in
Crore)
Date of
Allotment
Redempti
on date
Credit
Rating
Secured/U
nsecured
Security Other
Details
viz
Details of
IPA,
Details of
CRA 1 INE019C
14508
89 DAYS 6.75% 60.00 26/12/2019 24/03/2020 'A1+' Unsecured NA IPA:-ICICI
Bank
Limited;
CRA:-
ICRA
Limited
Page 10 of 15
Central
Bank of
India
Fund Based
Working
Capital Limit
10.00
- ON
DEMAND
Working Capital
borrowings from
banks are secured by
hypothecation on
currents assets of the
Company both
present and future on
pari passu basis.
AA- STANDARD
Citi Bank
NA
Fund Based
Working
Capital Limit
30.00
- ON
DEMAND
Working Capital
borrowings from
banks are secured by
hypothecation on
currents assets of the
Company both
present and future on
pari passu basis.
AA- STANDARD
DBS Bank
India
Limited
Fund Based
Working
Capital Limit
50.00
- ON
DEMAND
Working Capital
borrowings from
banks are secured by
hypothecation on
currents assets of the
Company both
present and future on
pari passu basis.
AA- STANDARD
Federal
Bank
Fund Based
Working
Capital Limit
40.00
- ON
DEMAND
Unsecured
AA- STANDARD
HDFC Bank
Limited
Fund Based
Working
Capital Limit
40.00
14.25 ON
DEMAND
Working Capital
borrowings from
banks are secured by
hypothecation on
currents assets of the
Company both
present and future on
pari passu basis.
AA- STANDARD
The Hong
Kong and
Shanghai
Banking
Corporation
Limited
Fund Based
Working
Capital Limit
50.00
- ON
DEMAND
Working Capital
borrowings from
banks are secured by
hypothecation on
currents assets of the
Company both
present and future on
pari passu basis.
NA STANDARD
ICICI Bank
Limited
Fund Based
Working
Capital Limit
45.00
0.16 ON
DEMAND
Working Capital
borrowings from
banks are secured by
hypothecation on
currents assets of the
Company both
present and future on
pari passu basis.
AA- STANDARD
Page 11 of 15
IDFC First
Bank
Limited
Fund Based
Working
Capital Limit
25.00
0.18 ON
DEMAND
Working Capital
borrowings from
banks are secured by
hypothecation on
currents assets of the
Company both
present and future on
pari passu basis.
AA- STANDARD
IndusInd
Bank
Limited
Fund Based
Working
Capital Limit
30.00
- ON
DEMAND
Working Capital
borrowings from
banks are secured by
hypothecation on
currents assets of the
Company both
present and future on
pari passu basis.
AA- STANDARD
Kotak
Mahindra
Bank
Limited
Fund Based
Working
Capital Limit
50.00
16.25 ON
DEMAND
Working Capital
borrowings from
banks are secured by
hypothecation on
currents assets of the
Company both
present and future on
pari passu basis.
AA- STANDARD
Qatar
Natinal
Bank
(Q.P.S.C)
Fund Based
Working
Capital Limit
60.00
- ON
DEMAND
Unsecured
AA- STANDARD
RBL Bank
Limited
Fund Based
Working
Capital Limit
25.00
- ON
DEMAND
Working Capital
borrowings from
banks are secured by
hypothecation on
currents assets of the
Company both
present and future on
pari passu basis.
AA- STANDARD
Standard
Chartered
Bank
Fund Based
Working
Capital Limit
30.00
- ON
DEMAND
Working Capital
borrowings from
banks are secured by
hypothecation on
currents assets of the
Company both
present and future on
pari passu basis.
AA- STANDARD
Page 12 of 15
State Bank
of India
Fund Based
Working
Capital Limit
100.00
92.93 ON
DEMAND
Working Capital
borrowings from
banks are secured by
hypothecation of
currents assets of the
Company both
present and future on
pari passu basis.
Further, working
capital loan from
State Bank of India is
also secured by
subservient charge on
moveable property,
plant and equipment
of the Company.
AA- STANDARD
Yes Bank
Limited
Fund Based
Working
Capital Limit
30.00
- ON
DEMAND
Working Capital
borrowings from
banks are secured by
hypothecation on
currents assets of the
Company both
present and future on
pari passu basis.
AA- STANDARD
Note: Aforesaid Bank Facilities includes Non-Fund Based Facility interchangeable to Fund Based
Facility
Axis Bank
Limited
Term Loan
100.00
16.67 Repayable
in 10
quarterly
installment
of 1.67
Crores.
Mortgage of
immovable properties
situated at Mahistikry
Unit (Leasehold
Land), Liluah Unit,
and Vishakhapatnam
Unit and
hypothecation of all
movable property,
plant and equipment.
AA- STANDARD
Page 13 of 15
IDFC First
Bank
Limited
Term Loan
30.00
16.50 Repayable
in 11
quarterly
installment
s of Rs.
1.50
Crores.
Mortgage of
immovable properties
situated at Mahistikry
Unit (Leasehold
Land), Liluah Unit,
and Vishakhapatnam
Unit and
hypothecation
of movable property,
plant and equipment
situated at Mahistikry
Unit (Leasehold
Land), Liluah Unit,
and Vishakhapatnam
Unit.
AA- STANDARD
ICICI Bank
Limited
External
Commercial
Borrowing
JPY 775
Million
JPY 43.05
Million
JPY 43.05
Million
repayable
in August,
2020.
Mortgage of
immovable properties
(Leasehold Land)
and hypothecation of
movable property,
plant and equipment
situated at
Mahistikry.
AA- STANDARD
3.3. The amount of corporate guarantee or letter of comfort issued by the issuer along with name of the
counterparty (like name of the subsidiary, JV entity, group company, etc) on behalf of whom it has
been issued, contingent liability including debt service reserve account (DSRA) guarantees/ any put
option etc. – NIL
4. Issue Information:
4.1. Details of current tranche:
Details of Current Tranche
ISIN INE019C14516
Amount Rs. 50.00 Crores
Maturity Date June 25, 2020
Current Credit Rating ‘[ICRA] A1+’
Validity Period Of Rating One Year
Credit Rating Agency ICRA Limited
Issuing and Paying Agent ICICI Bank Limited, Kolkata
Market Conventions FIMMDA Conventions
CP Borrowing Limit Rs.300.00 Crores
Supporting resolution of finance committee of the Board of Directors 27 March 2020
Total CP Outstanding (As on Value Date) Rs 50.00 Crores
Page 14 of 15
4.2. CP borrowing limit, supporting board resolution for CP borrowing - Annexure 1 Details of CP issued during the last 15 months. –
Part - II
Details of CPs issued during the Last 15 Months
ISIN Issue date Maturity date Issue Size O/s
Amt IPA CRA
Rating
Rated
Amount
INE019C14318 09/11/2018 28/12/2018 50.00 - ICICI ICRA ‘ A1 +’ 300.00
INE019C14318 19/11/2018 28/12/2018 70.00 - ICICI ICRA ‘ A1 +’ 300.00
INE019C14326 03/12/2018 08/02/2019 50.00 - ICICI ICRA ‘ A1 +’ 300.00
INE019C14334 31/12/2018 28/02/2019 50.00 - ICICI ICRA ‘ A1 +’ 300.00
INE019C14342 03/01/2019 27/03/2019 70.00 - ICICI ICRA ‘ A1 +’ 300.00
INE019C14342 04/01/2019 27/03/2019 25.00 - ICICI ICRA ‘ A1 +’ 300.00
INE019C14359 08/01/2019 28/03/2019 13.50 - ICICI ICRA ‘ A1 +’ 300.00
INE019C14367 15/02/2019 18/04/2019 50.00 - ICICI ICRA ‘ A1 +’ 300.00
INE019C14375 01/03/2019 16/04/2019 45.00 - ICICI ICRA ‘ A1 +’ 300.00
INE019C14375 20/03/2019 16/04/2019 5.00 - ICICI ICRA ‘ A1 +’ 300.00
INE019C14383 18/04/2019 21/06/2019 75.00 - ICICI ICRA ‘ A1 +’ 300.00
INE019C14391 30/04/2019 29/07/2019 50.00 - ICICI ICRA ‘ A1 +’ 300.00
INE019C14409 14/05/2019 09/08/2019 50.00 - ICICI ICRA ‘ A1 +’ 300.00
INE019C14417 16/05/2019 14/08/2019 40.00 - ICICI ICRA ‘ A1 +’ 300.00
INE019C14425 24/05/2019 22/08/2019 30.00 - ICICI ICRA ‘ A1 +’ 300.00
INE019C14433 31/05/2019 29/08/2019 20.00 - ICICI ICRA ‘ A1 +’ 300.00
INE019C14391 31/05/2019 29/07/2019 15.00 - ICICI ICRA ‘ A1 +’ 300.00
INE019C14441 30/07/2019 26/09/2019 15.00 - ICICI ICRA ‘ A1 +’ 300.00
INE019C14458 27/09/2019 13/12/2019 50.00 - ICICI ICRA ‘ A1 +’ 300.00
INE019C14466 11/10/2019 10/12/2019 50.00 - ICICI ICRA ‘ A1 +’ 300.00
INE019C14474 25/10/2019 24/12/2019 40.00 - ICICI ICRA ‘ A1 +’ 300.00
INE019C14482 01/11/2019 27/12/2019 40.00 - ICICI ICRA ‘ A1 +’ 300.00
INE019C14490 26/11/2019 26/12/2019 30.00 - ICICI ICRA ‘ A1 +’ 300.00
INE019C14508 26/12/2020 24/03/2020 60.00 60.00 ICICI ICRA ‘ A1 +’ 300.00 Issuer’s liability under the CP will continue beyond due date, in case the CP is not redeemed on due date, even if the
CP is in demat .
4.3. End-use of funds: For meeting Stock in Trade.
4.4. Credit Support/enhancement (if any): NA
(i) Details of instrument, amount, guarantor company
(ii) Copy of the executed guarantee
(iii) Net worth of the guarantor company
(iv) Names of companies to which guarantor has issued similar guarantee
(v) Extent of the guarantee offered by the guarantor company
(vi) Conditions under which the guarantee will be invoked
5. Financial Information:
5.1. Audited / Limited review half yearly consolidated (wherever available) and standalone
financial information (Profit & Loss statement, Balance Sheet and Cash Flow statement)
along with auditor qualifications, if any, for last three years along with latest available
financial results.
Page 15 of 15
In case an issuer is required to prepare financial results for the purpose of consolidated
financial results in terms of Regulation 33 of SEBI LODR Regulations, latest available
quarterly financial results shall be filed.
The Consolidated unaudited financial results along with the limited review report for
the quarter and nine months ended 31 December 2019 is enclosed herewith and
marked as Annexure- 2
5.2. Latest audited financials should not be older than six month from the date of application
for listing.
Provided that listed issuers (who have already listed their specified securities and/or ‘Non-
convertible Debt Securities’ (NCDs) and/or ‘Non-Convertible Redeemable Preference
Shares’ (NCRPS)) who are in compliance with SEBI (Listing obligations and disclosure
requirements) Regulations 2015 (hereinafter “SEBI LODR Regulations”), may file
unaudited financials with limited review for the stub period in the current financial year,
subject to making necessary disclosures in this regard including risk factors – Not
Applicable
6. Asset Liability Management (ALM) Disclosures:
6.1. NBFCs seeking to list their CPs shall make disclosures as specified for NBFCs in SEBI
Circular nos. CIR/IMD/DF/ 12 /2014, dated June 17, 2014 and CIR/IMD/DF/ 6 /2015, dated
September 15, 2015, as revised from time to time. Further, “Total assets under
management”, under para 1.a. of Annexure I of CIR/IMD/DF/ 6 /2015, dated September
15, 2015 shall also include details of off balance sheet assets. – Not Applicable
6.2. HFCs shall make disclosures as specified for NBFCs in SEBI Circular no. CIR/IMD/DF/ 6
/2015, dated September 15, 2015, as revised from time to time with appropriate
modifications viz. retail housing loan, loan against property, wholesale loan - developer
and others. – Not Applicable
B S R & Co. LLP Chartered Accountants
Godrej Waterside, Unit No. 603 Telephone: + 91 33 4035 4200 6th Floor, Tower 1, Plot No. 5, Block - DP Fax: + 91 33 4035 4295 Sector V, Salt Lake, Kolkata - 700091
Limited review report on unaudited quarterly and year-to-date standalone financial results of Himadri Speciality Chemical Limited (formerly known as Himadri Chemicals & Industries Limited) pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015
To Board of Directors of Himadri Speciality Chemical Limited (formerly known as Himadri Chemicals & Industries Limited)
1. We have reviewed the accompanying Statement of unaudited standalone financial results of Himadri Speciality Chemical Limited (formerly known as Himadri Chemicals & Industries Limited) ("the Company") for the quarter ended 31 December 2019 and year to date results for the period from 1 April to 31 December 2019 ("the Statement").
2. This Statement, which is the responsibility of the Company's management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements), 2015, as amended ("Listing Regulations"). Our responsibility is to issue a report on the Statement based on our review.
3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with applicable accounting standards and other recognised accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.
B S R & Co. (a partnership firm with Registration No. BA61223) converted into B S R & Co, LLP (a Limited Liability Partnership with LLP Registration No. AAB-8181) with effect from October 14, 2013
Registered Office: 5th Floor, Lodha Excelus Apollo Mills Compound N.M. Joshi Marg, Mahalakshmi Mumbai - 400 011
Annexure -2
B S R & Co. LLP
Limited review report on unaudited quarterly and year-to-date standalone financial results of Himadri Speciality Chemical Limited (formerly known as Himadri Chemicals & Industries Limited) pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015 (Continued)
5. We draw attention to note 4 of the Statement regarding the approval of Scheme of Amalgamation between the Company and its wholly owned subsidiary company, Equal Commodeal Private Limited, by the National Company Law Tribunal (`NCLT'), vide NCLT's order dated 14 October 2019, with appointed date of 1 April 2018. A certified copy of the order sanctioning the Scheme has been filed by the Company with the Registrar of the Companies, West Bengal, on 11 November 2019. Accordingly, the unaudited standalone financial results for the quarter ended 31 December 2018, year to date results for the period from 1 April 2018 to 31 December 2018 and audited standalone financial results for the year ended 31 March 2019 have been restated by the Company after recognising the effect of the merger from the appointed date as stated in the aforesaid note.
Our conclusion on the Statement is not modified in respect of the above matter.
S R & Co. LLP hartered Accountants
Fir 's Registration No. 101248
+ KOLKATA + ay u padhyay
Place: Kolkata Membership No: 055757 liner \--ted Acc,13̀ ‘
•
Date: 13 February 2020 ICAI 2b055757AAAAAU9375
Himadrl HIMADR1 SPECIALITY CHEMICAL LIMITED
(Formerly known as Himadri Chemicals & Industries Limited) Registered Office: 23A Netmi Subhas Road 8th Floor, Suite No, 15, Kolkata - 700 001
Corporate Identity Number: L27106WB1987PLC042756 Phone: (033)2230-9953, Fax: (033)2230-9051
Email: infoOhimadri corn, Website: www himadri corn
in Statement of Unaudited Standalone Financial Results for the Quarter and Nine Months Ended 31 December 2019
Sr. Particulars Three months Previous Three Corresponding Year to date Year to date Previous year No. ended 31.12.2019 months ended Three months figures for the figures for the ended 31 03 2019
30 09 2019 ended 31 12 2018 in the previous
year
current period ended 31.12.2019
(Refer note 4)
previous period ended 31 12 . 2018
(Refer note 4)
(Refer note 4)
(Refer note 4)
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) 1. Income
(a) Revenue from Operations 428.26 487 19 586 68 1,439.13 1,793 18 2,376 62 (b) Other Income 2.77 175 12 92 9.72 8 29 14.10 Total Income 431.03 488 94 599.60 1,448.85 1.801.47 2,390.72
2. Expenses (a) Cost of materials consumed 316.22 321 10 411 04 958.17 1,274 03 1,60171 (b) Changes in inventories of finished goods and work-in-progress 1.96 (0 24) (21 86) 17.55 (7409) (1590) (e) Employee benefits expense 18.19 19 54 15.37 54.45 42.35 58.12 (d) Finance costs 11.55 13.79 17.32 40.91 53 58 70 57 (e) Depreciation and amortisation expense 8.72 8.24 8 41 25.10 24_71 32.53 (f) Other expenses 56.45 57 02 49 38 159.25 135 88 192 38 Total Expenses 413.09 419 45 479 66 1,255.43 1,456_46 1,941 41
3. Profit before exceptional items and tax (1-2) 17.94 69 49 119.94 193.42 345 01 449 31
4. Exceptional Items - _ - - -
5. Profit before tax (3+4) 17.94 69.49 11994 193.42 345 01 449 31
6. Tax expense (a) Current tax 3.15 7.89 25 88 33.81 74 30 96 83 (b) Deferred tax (1.91) 1 I .09 1197 17.01 30 82 41 07
Total tax expense 1.24 18 98 37 85 50.82 105. 12 137 90
7. Net Profit after tax (5-6) 16.70 50 51 82.09 142.60 23989 311,41
8. Other Comprehensive Income Items that will not be reclassified subsequently to profit or loss (30.98) (36.68) 30 26 (84.82) (28 56) (94 46) income taxes relating to items that will not be reclassified to profit or loss 6.75 7.99 (5 54) 18.46 4 81 11 08 Items that will be reclassified subsequently to profit or loss - - _ - - Income taxes relating to items that will be reclassified to profit or loss - - Total Other Comprehensive Income (net of tax) (24.23) (18.69) 24 72 (6636) (23.75) (83_38)
9. Total Comprehensive Income for the period/ year (comprising Net Profit after tax and other comprehensive income for the period/ year) (7+8)
(7.53) 21.82 106 81 76.24 216 14 228.03
10. Paid-up equity share capital 41.87 41 86 41 84 41.87 41 84 41,86 (Face value Re. I each)
11. Other Equity 1,638.88
12. Earnings per equity share (of Re. 1 each) (refer note 10) (a) Basic (Rs) ) 0.40 1 21 1 96 3.41 5 73 7.44 (b) Diluted (Rs) ) 0.40 1 21 1 96 3.41 5,73 7.43
Himadrl HIMADRI SPECIALITY CHEMICAL LIMITED
(Formerly known as Himadri Chemicals & Industries Limited)
Registered Office: 23A Netaji Subhas Road
8th Floor, Suite No. 15, Kolkata - 700 001
Corporate Identity Number: L27106WB1987PLC042756
Phone: (033)2230-9953, Fax: (033)2230-9051
Email: info(a)himadri com, Website: www himadri corn
Its I ' Standalone Segment wise Revenue, Results, Assets and Liabilities
Sr. Particulars Three months Previous Three Corresponding Year to date Year to date Previous year No. ended 31.12.2019 months ended Three months figures for the figures for the ended 31 03 2019
30 09.2019 ended 31 12 2018
in the previous
year
current period
ended 31.12.2019
(Refer note 4)
previous period
ended 31 12 2018
(Refer note 4)
(Refer note 4)
(Refer note 4)
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) 1. Segment Revenue
(a) Carbon materials and chemicals 425.80 484.10 582 59 1,430.06 1,778.09 2,357 76 (b) Power 15.02 15.44 16 70 4639 50 64 66 54
Total segment revenue (a + b) 440.82 499 54 599 29 1,476.45 1,828 73 2,424 30 Less: Inter segment revenue 12.56 1235 12 61 3732 35 55 47 68 Total Revenue from Operations 428.26 487_19 586 68 1,439.13 1.793 18 2,376 62
2. Segment Results
(a) Carbon materials and chemicals 13.42 71.54 109.21 183.16 344 28 446 57 (b) Power 1330 13 74 15.13 41.45 46.02 59.21
Total segment profit before interest, tax and unallocable items (a + b) 26.72 85 28 124 34 224.61 390.30 505 78
Add/ (Less):
(a) Finance costs (11.55) (13.79) (17.32) (40.91) (53.58) (70 57) (b) Other unallocable expenses net of unallocable income • 2.77 (2.00) 12 92 9.72 8.29 14.10 Total Profit before tax 17.94 69.49 119 94 193.42 345 01 449 31
3. Segment Assets
(a) Carbon materials and chemicals 2,30637 2,374.49 2,291.19 2,30637 2,291.19 2,372 72 (b) Power 52.00 54.21 55 38 52.00 55 38 54 05 (c) Unallocated 288.84 297.68 463.20 288.84 463.20 . 363 43 Total assets 2,647.21 2,726.38 2,809 77 2,647.21 2,809 77 2.790 20
4. Segment Liabilities
(a) Carbon materials and chemicals 230.05 282,42 383.44 230.05 383 44 485 10 (b) Power 0.27 0,27 0 16 0.27 0 16 3 20 (c) Unallocated 666.23 684.70 75198 666.23 757 98 621 16 Total liabilities 896.55 967.39 1141,58 896.55 1.14158 1,109 46 • includes other income and foreign exchange loss/ (gain) (net) fully unallocable
.4 Hi mad ri
HIMADRI SPECIALITY CHEMICAL LIMITED
(Formerly known as Himadri Chemicals & Industries Limited)
Registered Office: 23A Netaji Subhas Road
8th Floor, Suite No. 15, Kolkata - 700 001 Corporate Identity Number: L27106WB1987PLC042756
Phone: (033)2230-9953, Fax: (033)2230-9051
Email: info(aimadri.com, Website: www himadri corn
NOYES,
(I) The above unaudited Standalone results have been reviewed by the Audit Committee and approved by the Board of Directors in their respective meetings held on 13 February 2020 A Limited Review of these Standalone results for the quarter and nine months ended 31 December 2019 has been carried out by the Statutory Auditors, as required under Regulation 33 of SEBI (LODR) Regulations, 2015
(2 ) Other expenses includes foreign exchange fluctuation loss (net) of Rs 3.75 crores for the quarter ended 30 September 2019, and other income includes foreign exchange fluctuation gain (net) of Rs 0 38 crores for the quarter ended 31 December 2019, Rs 10.40 crores for the quarter ended 31 December 2018, Rs 3,22 crores for nine months ended 31 December 2019, Re 0.45 crore for nine months ended 31 December 2018 and Rs 2 69 crores for the year ended 31 March 2019, on standalone basis.
(3) Based on the guiding principles given in Ind AS 108 on 'Operating Segments', the Company's business activity falls within two operating segments, namely: (a) Carbon materials and chemicals and (b) Power
(4) National Company Law Tribunal (`NCLT'), Kolkata Bench, vide Order dated 14 October 2019, approved draft Scheme of Amalgamation (`Scheme) between Himadri Speciality Chemical Limited (`the Company' or the 'Transferee Company') and Equal Comrnodeal Private Limited (the 'Transferor Company'), a wholly owned subsidiary of the Company, with effect from the Appointed Date of 1 April 2018 The NCLT's order has been considered to give effect in the audited standalone annual results for the year ending 31 March 2019 and unaudited standalone financial results for the gunner and nine months ended 31 December 2018. The impact of above NCLT's order is given below:
Particulars Quarter Ended Nine Months Ended Year Ended 31 12 2018 31 12 2018 31 03 2019
Pre NCLT order Post NCLT order Pre NCLT order Post NCLT order Pre NCLT order Post NCLT order
Profit before tax 122.14 119.94 34007 345 01 445 02 449 31 Net Profit after tax 84 35 8109 235 10 239 89 307 30 311 41 Total Assets 2.804 87 2.809 77 2,785 97 2,79020 Total Equity and Liabilities 2.804 87 2.809 77 2,785.97 2,790 20
(5) Effective I April 2019, the Company has adopted Ind AS 116 'Leases' using the modified retrospective approach and has applied the standard to its leases with the cumulative impact recognised on the date of initial application. Accordingly, the previous period information has not been restated. The Company has accordingly, recognised a right-of-use asset and a corresponding lease liability amounting to Rs 1.16 crores as at 1 April 2019. The adoption of this Standard did not have significant impact on the profit for the quarter and nine months ended 31 December 2019.
(6) The Nomination and Remuneration Committee of the Company at its meeting held on 23 October 2019, has allotted 93,762 equity shares of Re I each to the option grantees pursuant to exercise of options under the Company's "Ilimadri Employee Stock Option Plan 2016". As a result of such allotment, the paid up equity share capital of the Company has increased from 418,609,806 equity vh:u es to 418,703,568 equity shares of face value of Re I each
(7) Subsequent to 31 December 2019, the Company has commenced commercial production of expanded capacity of Carbon Black at its Plant located at Mahishtikry, West Bengal
(8) Commercial Paper issued by the Company are listed on the debt segment of BSE Limited.
(9) The Government of India has introduced the Taxation Laws (Amendment) Act, 2019, which has given the option of lower rate, subject to certain conditions_ The Company is currently in the process .61' evaluating the impact of the same.
(10) Earnings per share is not annualised for the quarter ended 31 December 2019, 30 September 2019, 31 December 2018, nine months ended 31 December 2019 and 31 December 2018
(1 I ) The figures of the corresponding previous periodslyear have been regrouped/reclassified, wherever necessary, to conform to the classification for the quarter and nine months ended 31 December 2019,
On behalf of the Board of Directors
Bankey Lal Choudhary
Chairman DIN: 00173792
Place: Kolkata
Date: 13 February 2020
Of: Himadri
HIMADRI SPECIALITY CHEMICAL LIMITED
(Formerly known as Himadri Chemicals & Industries Limited)
Registered Office: 23A Nelaji Subhas Road
8th Floor, Suite No 15, Kolkata - 700 001
Corporate Identity Number L27106WB1987PLC042756
Phone: (033)2230-9953, Fax: (033)2230-9051
Email: [email protected], Website: www.himadri.com
(Rs. in Cranes)
Statement of Unaudited Standalone Financial Results for the Quarter and Nine Months Ended 31 December 2019
Sr. No. Particulars Three months ended 31.12.2019
Previous Three months ended
30 09 2019
Corresponding Three months
ended 31 12 2018 in the previous
year
Year to date figures for the
current period ended 31.12.2019
Year to date
figures for the previous period
ended 31 12 2018
Previous year ended 31 03 2019
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)
1. Total income 431.03 488 94 599 60 1,448.85 1.801.47 2,390_72
2. Net Profit for the period (before tax, Exceptional and/or Extraordinary items)
17.94 69 49 119 94 193.42 345 01 449 31
3. Net Profit for the period before tax (after Exceptional and/or Extraordinary items)
17.94 69 49 119 94 193.42 345.01 449 31
4. Net Profit for the period after tax (after Exceptional and/or Extraordinary items)
16.70 50 51 82 09 142.60 239 89 311 41
5.
Total Comprehensive Income for the period (comprising Net
Profit for the period/ year (after tax) and other comprehensive income for the period/ year (after tax)
(7,53) 21 82 106 81 76.24 216 14 228 03
6. Paid up Equity Share Capital 41,87 41.86 41 84 41.87 41.84 41 86
7. Other Equity 1.638 88
8. Earnings Per Equity Share (before and after extraordinary items) (of Re. 1 each) (refer note 2)
Basic (Rs) )
Diluted (Rs) )
0.40
0.40
1.21
1.21
196
1 96
3.41
3.41
5 73
5.73
744
7 43
NOTES:
1) The Review Regulations,
2) Earnings
3) The December
4) National Limited Appointed
financial audited
5) The Requirements)
and on the
Place Kolkata
Dare: 13
-
above unaudited Standalone results have been reviewed by the Audit of these Standalone results for the quarter and nine months ended
2015.
per share is not annualised for the quarter ended 31 December
figures of the corresponding previous periods/year have been regrouped/reclassified, 2019
Company Law Tribunal (`NCLT), Kolkata Bench, vide Order (`the Company' or the 'Transferee Company') and Equal Commodeal
Date of 1 April 2018. The NCLT's order has been considered
results for the quarter and nine months ended 31 December 2018. standalone financial results for the year ended 31 March 2019, as aforesaid
above is an extract of the detailed format of Unaudited Standalone Regulations, 2015. The full format of the Unaudited Standalone
Company's website at www.himadri.com.
Committee and approved by the Board of Directors in their 31 December 2019 has been carried out by the Statutory Auditors,
2019, 30 September 2019, 31 December 2018, nine months
wherever necessary, to conform to the
dated 14 October 2019, approved draft Scheme of Amalgamation Private Limited (the 'Transferor Company'), a wholly
to give effect in the audited standalone annual results for Accordingly, the unaudited standalone financial results for
have been revised by the Company to give effect of the
Financial Results filed with the Stock Exchanges under Regulation Financial Results are available on the websiles of Stock
ph ----■,..„
..,... KO L KA:/ 7.
..'" 1.1 il• .; '
respective meetings held on 13 February 2020. A Limited
as required under Regulation 33 of SEBI (LODRI
ended 31 December 2019 and 31 December 2018
classification for the quarter and nine months ended 31
(`Scheme') between Himadri Speciality Chemical owned subsidiary of the Company, with effect from the
the year ending 31 March 2019 and unaudited 9andalnvn the quarter and nine months ended 31 December 2018 and
above Order
33 of the SEBI (Listing Obligations and Disclosure Exchanges at www.nseindia.com and wwwbseindia.corn
On behalf of the Board of Directors
6b., A C.--rr"----Cit----A..4--CvAl
Bankey Lal Choudhary
Chairman DIN: ,1:1173,P2 February 2020
B S R & Co. LLP Chartered Accountants
Godrej Waterside, Unit No. 603 Telephone: + 91 33 4035 4200 6th Floor, Tower 1, Plot No. 5, Block - DP Fax: + 91 33 4035 4295 Sector V, Salt Lake, Kolkata - 700091
Limited review report on unaudited quarterly and year-to-date consolidated financial results of Himadri Speciality Chemical Limited (formerly known as Himadri Chemicals & Industries Limited) pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
To Board of Directors of Himadri Speciality Chemical Limited (formerly known as Himadri Chemicals & Industries Limited)
1. We have reviewed the accompanying Statement of unaudited consolidated financial results of Himadri Speciality Chemical Limited (formerly known as Himadri Chemicals & Industries Limited) ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group") for the quarter ended 31 December 2019 and year to date results for the period from 1 April 2019 to 31 December 2019 ("the Statement"), being submitted by the Parent pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"). Attention is drawn to the fact that the consolidated figures for the corresponding quarter ended 31 December 2018 and the corresponding period from 1 April 2018 to 31 December 2018, as reported in these financial results have been approved by the Parent's Board of Directors, but have not been subjected to review since the requirement of submission of quarterly consolidated financial results has become mandatory only from 1 April 2019.
2. This Statement, which is the responsibility of the Parent's management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review.
3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the Listing Regulations, to the extent applicable.
4. The Statement includes the results of the following entities:
Parent Company:
a) Himadri Speciality Chemical Limited (HSCL)
Subsidiaries:
b) AAT Global Limited (AAT) (Wholly owned subsidiary of HSCL); and
c) Shandong Dawn Himadri Chemical Industry Limited (SDHCIL) (Subsidiary of AAT)
B S R & Co (a partnership firm with Registration No. BA61223) converted into B S R & Co, LLP (a Limited Liability Partnership with LLP Registration No. AAB-81131) with effect from October 14, 2013
Registered Office: 5th Floor, Lodha Excelus Apollo Mills Compound N.M. Joshi Marg, Mahalakshmi Mumbai - 400 011
Jayanta ! • hyay Partn
mIC No: a55757
AI UDI1\14 20055757AAAAAV6798
B S R & Co. LLP
Limited review report on unaudited quarterly and year-to-date consolidated financial results of Himadri Speciality Chemical Limited (formerly known as Himadri Chemicals & Industries Limited) pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Continued)
5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.
6 We did not review the interim financial information of one subsidiary included in the Statement, whose interim financial information reflect total revenue of Rs 87.25 crores and Rs 268.47 crores, and total net profit/ (loss) after tax of Rs 0.40 crores and Rs (3.86) crores, for the quarter ended 31 December 2019 and for the period from 1 April 2019 to 31 December 2019, respectively, as considered in the consolidated unaudited financial results. This interim financial information have been reviewed by other auditor whose report has been furnished to us by the management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of this subsidiary, is based solely on the report of the other auditor and the procedures performed by us as stated in paragraph 3 above.
The subsidiary is located outside India whose financial statements and other financial information has been prepared in accordance with accounting principles generally accepted in that country and which has been reviewed by other auditor under generally accepted auditing standards applicable in that country. The Parent Company's management has converted the financial statements of the subsidiary located outside India from accounting principles generally accepted in that country to accounting principles generally accepted in India. We have reviewed these conversion adjustments made by the Parent Company's management. Our opinion, in so far as it relates to the balances and affairs of such subsidiary located outside India, is based on the report of other auditor and the conversion adjustments prepared by the management of the Parent Company and reviewed by us.
Our conclusion on the Statement is not modified in respect of the above matter.
7. The Statement includes the interim financial information of one subsidiary which has not been reviewed, whose interim financial information reflect total revenue of Rs 1.61 crores and Rs 11.12 crores, and total net loss after tax of Rs (2.04) crores and Rs (4.84) crores, for the quarter ended 31 December 2019 and for the period from 1 April 2019 to 31 December 2019, respectively, as considered in the Statement. According to the information and explanations given to us by the Parent's management, these interim financial information are not material to the Group.
Our conclusion on the Statement is not modified ip respect of the above matter.
rBSR& Co. LLP Chartered Accountants Firm's Registration No. 101248W/W-100022
Place: Kolkata Date: 13 February 2020
OA.
Himadri HIMADRI SPECIALITY CHEMICAL LIMITED
(Formerly known as Himadri Chemicals & Industries Limited)
Registered Office: 23A Netaji Subhas Road
8th Floor, Suite No 15, Kolkata - 700 001
Corporate Identity Number: L27106W131987PLC042756
Phone: (033)2230-9953, Fax: (033)2230-9051
Email: inforahimadri corn, Website: www himadri corn
Rs in Crares Statement of Unaudited Consolidated Financial Results for the Quarter and Nine Months Ended 31 December 2019
Sr. Particulars Three months Previous Three Corresponding Year to date Year to date figures Previous year No. ended 31.12.2019 months ended Three months ended figures for the for the previous ended
30.09.2019 31.12.2018 in the current period period ended 31.03.2019 previous year ended 31.12.2019 31 12.2018 (Refer note 6) (Refer note 6) (Refer note 6) (Refer note 6)
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) 1. Income
(a) Revenue from Operations 429.73 487 19 590 80 1,44139 1,837.66 2,422 39 (b) Other Income 2.90 0 79 11.69 4.86 5.12 7.76 Total Income 432.63 487.98 602.49 1,446.25 1,842.78 2,430 15
2. Expenses
(a) Cost of materials consumed 314.37 325 14 303 67 957.64 1,294 12 1,617 59 (b) Changes in inventories of finished goods and work-in-progress 4.48 (3.12) 69 42 18.17 (7815) (17.18) (c) Employee benefits expense 18.48 19.79 15 68 55.24 4352 59.56 (d) Finance costs 11.64 13.79 17.37 41.17 5361 71 05 (e) Depreciation and amortisation expense 9.37 8.89 8 85 26.99 26.12 34 43 (f) Other expenses 57.27 59 41 49 96 161.85 148 93 202 56 Total Expenses 415.61 423 90 464 95 1,261.06 1,488 15 1,968 01
3. Profit before exceptional items and tax (1-2) 17.02 64.08 137 54 185.19 354 63 462 14
4. Exceptional Items -
5. Profit before tax (3+4) 17.02 64 08 137 54 185.19 354 63 462 14
6. Tax expense
(a) Current tax 3.14 7 89 25 88 33.80 74 30 96 83 (b) Deferred tax (1.92) 11.10 11 97 17.01 30 81 41 07
Total tax expense 1.22 18 99 37 85 50.81 105 11 137.90
7. Net Profit after tax (5-6) 15.80 45 09 99 69 13438 249.52 324 24.
8. Other Comprehensive Income
Items that will not be reclassified subsequently to profit or loss (30.98) (36 68) 30 28 (84.82) (28 54) (94 46) Income taxes relating to items that will not be reclassified to profit or loss 6.75 7 99 (5 54) 18.46 4 81 11 08
Items that will be reclassified subsequently to profit or loss (0.44) I 35 19 16 (1.92) 17 20 (20 77) Income taxes relating to items that will be reclassified to profit or loss - - - - Total Other Comprehensive Income (net of tax) (24.67) (27.34) 43 90 (68.28) (6 53) (104 15)
9, Total Comprehensive Income for the period/ year (comprising Net Profit after tax and other comprehensive income for the period/ year)
(8.87) 17 75 143 59 66.10 242 99 220 09
(7+8)
10. Profit attributable to
(a) Owners of the Company 15.92 45 16 99 71 134.66 249 56 324 30 (b) Non-controlling interests (0.12) (0 07) (0.02) (0.28) (0 04) (0 06)
11. Other comprehensive income attributable to
(a) Owners of the Company (24.66) (27 34) 43 89 (68.28) (6.54) (104 15) (b) Non-controlling interests (0.01) . 0.01 - 0 01 -
12. Total comprehensive income attributable to
(a) Owners of the Company (8.74) 17 82 143.60 6638 243 02 220 15 (b) Non-controlling interests (0.13) (0 07) (0 01) (0.28) (0 03) (0.06)
13. Paid-up equity share capital 41.87 41 86 41 84 41.87 41 84 41 86 (Face value Re, I each) .
14. Other Equity 1,589 93
15. Earnings per equity share (of Re. 1 each) (refer note 10)
(a) Basic (Rs.) 038 I 08 2 38 3.22 5 96 7 75 (b) Diluted (Rs.) 038 108 2 38 3.21 5 96 7 74
Himadri HIMADRI SPECIALITY CHEMICAL LIMITED
(Formerly known as Himadri Chemicals & Industries Limited)
Registered Office: 23A Netaji Subhas Road
8th Floor, Suite No 15, Kolkata - 700 001 Corporate Identity Number: L27106W131987PLC042756
Phone: (033)2230-9953, Fax: (033)2230-9051
Email: info@himadri corn, Website: www himadri corn
Rs. in Crorcs Consolidated Segment wise Revenue, Results, Assets and Liabilities
Sr. Particulars Three months Previous Three Corresponding Year to date Year to date figures Previous year No. ended 31.12.2019 months ended Three months ended figures for the for the previous ended
30 09 2019 31.12.2018 in the current period period ended 31.03 2019 previous year ended 31.12.2019 31 122018 (Refer note 6) (Refer note 6) (Refer note 6) (Refer note 6)
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) 1. Segment Revenue
(a) Carbon materials and chemicals 427.27 484 10 586 71 1,432.32 1,822.57 2,403 53 (b) Power 15.02 15 44 16 70 46.39 50.64 6654
Total segment revenue (a + b) 442.29 499 54 603 41 1,478.71 1,873.21 2,470 07 Less: Inter seznent revenue 12.56 12 35 12 61 37.32 35.55 47 68 Total Revenue from Operations 429.73 487 19 590 80 1.44139 1,837 66 2,422 39
2. Segment Results (a) Carbon materials and chemicals 12.46 68 67 128 09 180.05 36425 468 90 (b) Power 13.30 13 74 15 13 41.45 46.02 59 21
Total segment profit before interest, tax and unallocable items (a + b) 25.76 82 41 143 22 221.50 41027 528 11
Add/ (Less): (a) Finance costs (11.64) (13 79) (17 37) (41.17) (53.61) (71 05) (b) Other unallocable expenses net of unallocable income • 2.90 (4 54) 11 69 4.86 (2.03) 5 08 Total Profit before tax 17.02 64 08 137 54 185.19 354 63 462 14
3. Segment Assets (a) Carbon materials and chemicals 2,405.71 2,489 51 2,415 67 2,405.71 2,415.67 2,481 54 (b) Power 52.00 54 21 55 38 52.00 55.38 54 05 (c) Unallocated 196.21 179 75 352 09 196.21 352 09 252.31 Total assets 2.653.92 2.723.47 2.823,14 2.653.92 2.823 14 2,787 90
4. Segment Liabilities (a) Carbon materials and chemicals 296.18 337 55 445 72 296.18 445.72 532 07 (b) Power 0.27 0 27 0 16 0.27 0.16 3 20 (c) Unallocated 666.23 684.70 757 98 666.23 757.98 621.16 Total liabilities 962.68 1022 52 120386 962.68 1,203.86 _ 1,15643 • includes other income and foreign exchange loss/ (gain) (net) fully unallocable
On behalf of the Board of Directors
dk,G44,---av%1, Bankey Lal Chondary
Chairman 00173792
Place: Kolkata
Date 13 FcbninE 2020
ct, co co + KOLKATA
Himadri
IIIMADRI SPECIALITY CHEMICAL LIMITED (Formerly known as Himadri Chemicals & Industries Limited)
Registered Office: 23A Netaji Subhas Road
8th Floor, Suite No 15, Kolkata - 700 001 Corporate Identity Number: L27106WB1987PLC042756
Phone: (033)2230-9953, Fax: (033)2230-9051
Email: infodfhimadri com, Website www himadri.com
(I) The above unaudited consolidated results have been reviewed by the Audit Committee and approved by the Board of Directors in their respective meetings held on 13 February 2020, A Limited Review of these Consolidated results for the quarter and nine months ended 31 December 2019 has been carried out by the Statutory Auditors, as required under Regulation 33 of SEBI ILODRI Regulations, 2015.
(2) Other expenses includes foreign exchange fluctuation loss (net) of Rs 5 33 crores for the quarter ended 30 September 2019, Rs 7.15 crores for nine months ended 31 December 2018, Rs 2 69 Creres for the year ended 31 March 2019, and other income includes foreign exchange fluctuation gain (net) of Rs 1.46 for the quarter ended 31 December 2019, Rs 10.16 for the quarter ended 3I December 2018 and Rs 1 23 crores for nine months ended 31 December 2019, on consolidated basis.
(3) Based on the guiding principles given in Ind AS 108 on 'Operating Segments', the Group's business activity falls within two operating segments, namely:
(a) Carbon materials and chemicals and (b) Power
(4) The consolidated financial results are prepared in accordance with the principles and procedures for the preparation and presentation of consolidated financial statements as set out in Ind AS 110 "Consolidated Financial Statements" notified by Ministry of Corporate Affairs, The consolidated financial results of Himadri Speciality Chemical Limited, include its subsidiaries, namely AAT Global Limited and Shandong Dawn Himadri Chemical Industry Limited, combined on a line-by-line basis by adding together the book values of like items of asset and liabilities, income and expenses eliminating intra-group balances and transactions and resulting unrealised gains/ (losses). The consolidated financial results are prepared applying uniform accounting policies on all material items.
(5) Effective 1 April 2019, the Group has adopted Ind AS 116 'Leases' using the modified retrospective approach and has applied the standard to its leases with the cumulative impact recognised on the date of initial application. Accordingly, the previous period information has not been restated. The Group has accordingly, recognised a right-of-use asset and a corresponding lease liability mnounrrrig to Rs 7.18 crores as at 1 April 2019. The adoption of this Standard did not have significant impact on the profit for the quarter and nine months ended 31 December 2019.
(6) National Company Law Tribunal (`NCLT'), Kolkata Bench, vide Order dated 14 October 2019, approved draft Scheme of Amalgamation (`Scheme') between Himadri Speciality Chemical Limited (`the Company' or the 'Transferee Company') and Equal Commodeal Private Limited (the 'Transferor Company'), a wholly owned subsidiary of the Company, with effect from the Appointed Date of I April 2018. Since the wholly owned subsidiary company has merged with the Company, there is no impact on the consolidated results already published, and therefore no adjustment is required in the books of account and in the accompanying consolidated results
(7) Subsequent to 31 December 2019, the Company has commenced commercial production of expanded capacity of Carbon Black at its Plant located at Mahishtikry, West Bengal.
(8) The Government of India has introduced the Taxation Laws (Amendment) Act, 2019, which has given the option of lower rate, subject to certain conditions, The Company is currently in the process of evaluating the impact of the same
(9) The figures for the quarter and nine months ended 31 December 2019 arc approved by the Board of Directors, but have not been subjected to review.
(10) Eamings per share is not annualised for the quarter ended 31 December 2019, 30 September 2019, 31 December 2018, nine months ended 31 December 2019 and 31 December 2018,
(11) The figures of the corresponding previous periods/year have been regrouped/reclassified, wherever necessary, to conform to the classification for the quarter and nine months ended 31 December 2019,
0
Himadrl HIMADRI SPECIALITY CHEMICAL LIMITED
(Formerly known as Himadri Chemicals & Industries Limited)
Registered Office: 23A Netaji Subhas Road
8th Floor, Suite No 15, Kolkata - 700 001
Corporate Identity Number: L27106WB1987PLC042756
Phone (033)2230-9953, Fax: (033)2230-9051
Email: info@himadri com, Website: www himadri.com
Rs. in ('roves
Statement of Unaudited Consolidated Financial Results for the Quarter and Nine Months Ended 31 December 2019
Sr. No. Particulars Three months
ended 31.12.2019
Previous Three months ended
30.092019
Corresponding Three months
ended 31 12 2018 in the previous
year
Year to date
figures for the
current period
ended 31.12.2019
Year to date
figures for the previous period
ended 31 12 2018
Previous year ended 31.03.2019
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)
1 Total income 432.63 487 98 602 49 1,446.25 L842.78 2,430 15
2. Net Profit for the period (before tax, Exceptional and/or Extraordinary items)
17.02 64 08 137 54 185.19 354 63 462 14
3• Net Profit for the period before tax (after Exceptional and/or Extraordinary items)
17.02 64 08 137.54 185.19 354 63 462.14
4. Net Profit for the period after tax (after Exceptional and/or
Extraordinary items) 15.80 45 09 99 69 134.38 249.52 324 24
5.
Total Comprehensive Income for the period {comprising Net Profit for the period/ year (after tax) and other comprehensive income for the period/ year (after tax))
(8.87) 17 75 143 59 66.10 242.99 220 09
6. Paid up Equity Share Capital 41.87 41.86 41 84 41.87 41.84 41.86
7. Other Equity .. • - - 1,589.93
8. Earnings Per Equity Share (before and after extraordinary items)
(of Re I each) (refer note 3)
Basic (Rs) )
Diluted (Rs) )
0.38
0.38
1.08
1 08
2 38
2 38
3.22
3.21
5 96
5 96
7.75
7.74
NOIES:-
1) The above
Review
Rogulatiurts,
21 The figures
11 Earnings
4) The
December
5) National
Limited Appointed adjustment
6) The Requirements) and on the
Place
Date 13
unaudited consolidated results have been reviewed by the Audit
of these Consolidated results for the quarter and nine months ended 2015
for the quarter and nine months ended 31 December 2019 are
per share is not annualised for the quarter ended 31 December
figures of the corresponding previous periods/year have been regrouped/reclassified, 2019
Company Law Tribunal (`NCLT'), Kolkata Bench, vide Order
(`the Company' or the 'Transferee Company') and Equal Commodeal Date of 1 April 2018. Since the wholly owned subsidiary company
is required in the books of account and in the accompanying consolidated
above is an extract of the detailed format of Unaudited Consolidated Regulations, 2015 The full format of the Unaudited Consolidated
Company's website at www.himadri.com.
Committee and approved by the Board of Directors in their 31 December 2019 has been carried out by the Statutory
approved by the Board of Directors, but have not been subjected
2019, 30 September 2019, 31 December 2018, nine months
wherever necessary, to conform to the
dated 14 October 2019, approved draft Scheme of Amalgamation Private Limited (the 'Transferor Company'), a wholly
has merged with the Company, there is no impact on
results.
Financial Results filed with the Stock Exchanges under Regulation Financial Results are available on the websites of Stock
- -. ‘4
\ .
1: ...'_r•:.,v-A. -. . tr3 1 71
/ I r .2
--..._ .....11,.;_,:,'
respective meetings held on 13 February 2020. A Limited Auditors, as required under Regulation 33 of SEBI (LODR)
to review
ended 31 December 2019 and 31 December 2018.
classification for the quarter and nine months ended 31
(`Scheme') between Himadri Speciality Chemical owned subsidiary of the Company, with effect from the
the consolidated results already published, and therefore no
33 of the SEBI (Listing Obligations and Disclosure
Exchanges at www.nsCindia.com and wwu bindiasnra
On behalf of the Board of Directors
Bankey Lal Clioadhary
Chairman DIN: 00173792
Kolkata
February 2020
Standalone Balance Sheetas at 31 March 2017
Amount in ` Lakhs
Note 31 March 2017 31 March 2016 1 April 2015 ASSETS(1) Non-current assets
(a) Property, plant and equipment 4 110,297.38 110,084.27 114,762.12 (b) Capital work-in-progress 5 936.45 2,732.70 1,019.42 (c) Financial assets
(i) Investments 6 16,658.38 11,168.02 10,929.02 (ii) Trade receivables 7 798.79 788.03 784.04 (iii) Loans 10 2,499.95 2,271.90 2,178.17 (iv) Other fi nancial assets 11 6.71 2.45 41.65
(d) Non-current tax assets (net) 12 409.72 409.72 362.22 (e) Other non-current assets 13 10,569.27 8,421.11 8,636.03
Total Non-current assets 142,176.65 135,878.20 138,712.67 (2) Current assets
(a) Inventories 14 39,207.05 31,501.34 35,933.28 (b) Financial assets
(i) Investments 6 25.08 2,100.00 2,512.71 (ii) Trade receivables 7 21,561.06 19,987.32 31,565.94 (iii) Cash and cash equivalents 8 1,132.72 1,819.97 1,268.90 (iv) Other bank balances 9 2,466.06 1,693.07 2,394.01 (v) Loans 10 418.56 131.10 125.08 (vi) Other fi nancial assets 11 1,062.26 1,081.50 503.68
(c) Other current assets 15 9,381.04 9,209.64 10,919.04 Total Current assets 75,253.83 67,523.94 85,222.64 TOTAL ASSETS 217,430.48 203,402.14 223,935.31 EQUITY AND LIABILITIESEquity
(a) Equity share capital 16 4,184.08 4,184.08 3,857.33 (b) Other equity 17 103,625.68 87,910.13 81,975.01
Total Equity 107,809.76 92,094.21 85,832.34 Liabilities(1) Non-current liabilities
(a) Financial liabilities(i) Borrowings 18 38,703.12 36,600.20 51,414.54 (ii) Trade payables 19 - - 20.56 (iii) Derivatives 20 882.32 5,943.01 5,764.15 (iv) Other fi nancial liabilities 21 25.77 25.77 1,195.04
(b) Provisions 22 178.86 102.93 78.42 (c) Deferred tax liabilities (net) 31 8,974.27 4,757.70 5,206.19
Total Non-current liabilities 48,764.34 47,429.61 63,678.90 (2) Current liabilities
(a) Financial liabilities(i) Borrowings 18 33,868.94 39,206.04 50,762.93 (ii) Trade payables 19 14,931.38 8,854.32 9,157.46 (iii) Derivatives 20 4,594.40 245.39 5,096.69 (iv) Other fi nancial liabilities 21 3,966.78 13,107.95 6,705.36
(b) Other current liabilities 23 3,476.69 2,398.35 2,623.71 (c) Provisions 22 18.19 66.27 77.92
Total Current liabilities 60,856.38 63,878.32 74,424.07 TOTAL EQUITY AND LIABILITIES 217,430.48 203,402.14 223,935.31 Signifi cant accounting policies The accompanying notes form an integral part of the Standalone fi nancial statements.
3
As per our report of even date attachedFor B S R & Co. LLP For and on behalf of the Board of Directors ofChartered Accountants Himadri Speciality Chemical LtdFirm’s Registration Number. 101248W/W-100022 CIN: L27106WB1987PLC042756
Sd/- Sd/- Sd/-Jayanta Mukhopadhyay Bankey Lal Choudhary Shyam Sundar ChoudharyPartner Managing Director Executive DirectorMembership No. 055757 DIN: 00173792 DIN: 00173732
Sd/- Sd/-Kamlesh Kumar Agarwal Bajrang Lal SharmaChief Financial Offi cer Company Secretary
Place: Kolkata Place: KolkataDate: 10 May 2017 Date: 10 May 2017
92 Annual Report 2016-17
CORPORATE OVERVIEW STATUTORY REPORTS FINANCIAL STATEMENTS
Standalone Statement of Profi t and Lossfor the year ended 31 March 2017
Amount in ` Lakhs Note Year ended
31 March 2017Year ended
31 March 2016I. Revenue from operations 24 147,125.42 129,078.10
II. Other income 25 789.87 1,095.01
III. Total income (I + II) 147,915.29 130,173.11
IV. ExpensesCost of materials consumed 26 88,052.80 77,764.73
Changes in inventories of fi nished goods and work-in-progress 27 645.87 5,333.78
Excise duty 14,708.21 13,894.24
Employee benefi ts expense 28 3,585.39 2,961.45
Finance costs 29 8,047.45 10,998.76
Depreciation and amortisation expense 4 3,097.36 6,371.56
Foreign exchange fl uctuation 2,002.89 1,109.65
Other expenses 30 15,435.19 13,827.16
Total expenses (IV) 135,575.16 132,261.33
V. Profi t/ (loss) before tax (III-IV) 12,340.13 (2,088.22)
VI. Tax expenses 31
Current tax - (5.31)
Deferred tax 4,222.76 (446.51)
VII. Profi t / (loss) for the year (V-VI) 8,117.37 (1,636.40)
VIII. Other comprehensive income (net of tax)A. Items that will not be reclassifi ed subsequently to profi t or loss(a) Remeasurements of defi ned benefi t liability/ (asset) (17.88) (5.72)
(b) Equity instruments through other comprehensive income - net change in fair value (net of taxes)
5,509.67 239.00
(c) Income taxes relating to items that will not be reclassifi ed to profi t or loss
6.19 1.98
Net other comprehensive income not to be reclassifi ed subsequently to profi t or loss
5,497.98 235.26
B. Items that will be reclassifi ed subsequently to profi t or loss(a) Eff ective portion of gains/(losses) on hedging instruments in
cash fl ow hedges 168.36 3,045.48
(b) Eff ective portion of gains/(losses) on hedging instruments in cash fl ow hedges reclassifi ed to profi t and loss
- (4,656.41)
Net other comprehensive income to be reclassifi ed subsequently to profi t or loss
168.36 (1,610.93)
Other comprehensive income for the year, net of income tax 5,666.34 (1,375.67)
IX. Total comprehensive income for the year (VII+VIII) 13,783.71 (3,012.07)
X. Earnings/ (loss) per equity share 32
[Face value of equity share ` 1 each (previous year ` 1 each)]- Basic 1.94 (0.42)
- Diluted 1.94 (0.42)
Signifi cant accounting policiesThe accompanying notes form an integral part of the Standalone fi nancial statements.
3
As per our report of even date attachedFor B S R & Co. LLP For and on behalf of the Board of Directors ofChartered Accountants Himadri Speciality Chemical LtdFirm’s Registration Number. 101248W/W-100022 CIN: L27106WB1987PLC042756
Sd/- Sd/- Sd/-Jayanta Mukhopadhyay Bankey Lal Choudhary Shyam Sundar ChoudharyPartner Managing Director Executive DirectorMembership No. 055757 DIN: 00173792 DIN: 00173732
Sd/- Sd/-Kamlesh Kumar Agarwal Bajrang Lal SharmaChief Financial Offi cer Company Secretary
Place: Kolkata Place: KolkataDate: 10 May 2017 Date: 10 May 2017
Standalone
93Annual Report 2016-17
Standalone Statement of Cash Flowsfor the year ended 31 March 2017
Amount in ` Lakhs
Year ended 31 March 2017 Year ended 31 March 2016
A. Cash fl ows from operating activities
Net profit/ (loss) before tax 12,340.13 (2,088.22)
Adjustments for:
Depreciation and amortisation expense 3,097.36 6,371.56
Shares based options outstanding 25.40 -
Finance costs 8,047.45 10,998.76
Interest income (360.69) (410.65)
Unwinding of discount on security deposits and others (166.63) (267.55)
Gain of fair valuation of investments through profit or loss (65.56) (148.96)
Dividend income on equity securities (0.22) (0.38)
Guarantee fee (36.76) (66.46)
Gain on sale of current investments (mutual funds) (29.57) (51.63)
Foreign exchange fluctuation (net) 1,873.62 1,705.21
Net gain on sale of property, plant and equipment (39.21) (3.82)
12,345.19 18,126.08
Operating cash fl ows before working capital changes 24,685.32 16,037.86
Working capital adjustments:
(Increase)/ decrease in inventories (7,705.71) 4,431.94
(Increase)/ decrease in trade receivables (1,593.90) 11,578.62
(Increase)/ decrease in financial and other assets (730.68) 1,360.63
Increase/ (decrease) in trade payables 6,269.77 (303.14)
Increase/ (decrease) in financial, other liabilities and provisions 1,899.70 (5,312.93)
(1,860.82) 11,755.12
Cash generated from operating activities 22,824.50 27,792.98
Income tax paid (net) (2,338.44) (42.19)
Net cash from operating activities (A) 20,486.06 27,750.79
B. Cash flows from investing activities
Acquisition of property, plant and equipments (1,153.49) (1,325.07)
Proceeds from sale of property, plant and equipments 44.61 19.08
Interest income received 334.29 495.55
Dividends received 0.22 0.38
Guarantee fee received 1.89 49.31
Loan to subsidiary (154.44) (200.00)
Proceeds from sale of investments 2,802.66 2,100.00
Purchase of investments - (2,100.00)
(Investment)/ redemption in fixed deposits with banks (having maturity of more than 3 months)
(781.27) 725.04
Net cash provided/ (used) in investing activities (B) 1,094.47 (235.71)
96 Annual Report 2016-17
CORPORATE OVERVIEW STATUTORY REPORTS FINANCIAL STATEMENTS
Standalone Statement of Cash Flowsfor the year ended 31 March 2017 (continued)
Amount in ` Lakhs
Year ended 31 March 2017 Year ended 31 March 2016
C. Cash fl ows from fi nancing activities
Proceeds from long-term borrowings 5,053.04 42.16
Repayment of long-term borrowings (10,974.60) (6,043.40)
Increase/ (decrease) in short term borrowings (4,941.89) (12,722.10)
Interest paid (10,255.11) (8,432.28)
Net proceeds/ (outflow) on settlement of derivative contracts (896.99) 173.59
Dividend paid (including dividend distribution tax) (251.79) -
Net cash provided by/ (used in) fi nancing activities (C) (22,267.34) (26,982.03)
Net increase/ (decrease) in cash and cash equivalents (A+B+C)
(686.81) 533.05
Cash and cash equivalents at 1 April(refer note 8 to the Standalone financial statements)
1,819.97 1,268.90
Effect of exchange rate fluctuations on cash held in foreign currency (EEFC accounts)
(0.44) 18.02
Cash and cash equivalents at 31 March(refer note 8 to the Standalone financial statements)
1,132.72 1,819.97
Notes:1. Standalone Statement of Cash Flows has been prepared under the indirect method as set out in Ind AS 7 specified under
Section 133 of the Companies Act, 2013.
2. Acquisition of property, plant and equipment includes movements of capital work-in-progress (including capital advances and liability for capital goods) during the year.
3. Figures in brackets indicate cash outflows.
As per our report of even date attachedFor B S R & Co. LLP For and on behalf of the Board of Directors ofChartered Accountants Himadri Speciality Chemical LtdFirm’s Registration Number. 101248W/W-100022 CIN: L27106WB1987PLC042756
Sd/- Sd/- Sd/-Jayanta Mukhopadhyay Bankey Lal Choudhary Shyam Sundar ChoudharyPartner Managing Director Executive DirectorMembership No. 055757 DIN: 00173792 DIN: 00173732
Sd/- Sd/-Kamlesh Kumar Agarwal Bajrang Lal SharmaChief Financial Offi cer Company Secretary
Place: Kolkata Place: KolkataDate: 10 May 2017 Date: 10 May 2017
Standalone
97Annual Report 2016-17
STANDALONE bALANCE SHEETas at 31 March 2018
Amount in ` LakhsNote 31 March 2018 31 March 2017
ASSETS(1) Non-current assets
(a) Property, plant and equipment 4 109,680.58 110,297.38 (b) Capital work-in-progress 5 1,768.01 936.45 (c) Intangible assets 6 236.14 - (d) Financial assets
(i) Investments 7 35,324.03 16,658.38 (ii) Trade receivables 8 798.79 798.79 (iii) Loans 11 4,718.29 2,499.95 (iv) Other financial assets 12 3.04 6.71
(e) Deferred tax assets 33 15,462.90 7,853.02 (f) Non-current tax assets (net) 13 486.68 409.72 (g) Other non-current assets 14 5,317.03 2,716.25
Total Non-current assets 173,795.49 142,176.65 (2) Current assets
(a) Inventories 15 41,519.79 39,207.05 (b) Financial assets
(i) Investments 7 - 25.08 (ii) Trade receivables 8 26,988.68 21,561.06 (iii) Cash and cash equivalents 9 1,718.04 1,132.72 (iv) Bank balances other than (iii) above 10 1,431.07 2,466.06 (v) Loans 11 268.23 418.56 (vi) Other financial assets 12 812.40 1,062.26
(c) Other current assets 16 10,226.76 9,381.04 Total Current assets 82,964.97 75,253.83 TOTAL ASSETS 256,760.46 217,430.48 EQUITY AND LIABILITIESEquity
(a) Equity share capital 17 4,184.08 4,184.08 (b) Other equity 18 141,448.47 103,625.68
Total Equity 145,632.55 107,809.76 Liabilities(1) Non-current liabilities
(a) Financial liabilities(i) Borrowings 19 23,119.18 38,703.12 (ii) Derivatives 21 583.65 882.32 (iii) Other financial liabilities 22 25.77 25.77
(b) Provisions 24 255.22 178.86 (c) Deferred tax liabilities (net) 33 25,173.74 8,974.27
Total Non-current liabilities 49,157.56 48,764.34 (2) Current liabilities
(a) Financial liabilities(i) Borrowings 19 36,422.53 33,868.94 (ii) Trade payables 20 11,826.22 14,931.38 (iii) Derivatives 21 185.91 4,594.40 (iv) Other financial liabilities 22 7,659.55 3,966.78
(b) Other current liabilities 23 5,757.31 3,167.68 (c) Provisions 24 40.24 18.19 (d) Current tax liabilities (net) 25 78.59 309.01
Total Current liabilities 61,970.35 60,856.38 TOTAL EQUITY AND LIABILITIES 256,760.46 217,430.48 Significant accounting policies 3The accompanying notes form an integral part of the standalone financial statements.
As per our report of even date attached
For B S R & Co. LLP For and on behalf of the Board of Directors ofChartered Accountants Himadri Speciality Chemical LimitedFirm's Registration Number. 101248W/W-100022 CIN: L27106WB1987PLC042756
Sd/- Sd/- Sd/-Jayanta Mukhopadhyay Bankey Lal Choudhary Shyam Sundar ChoudharyPartner Managing Director Executive DirectorMembership No. 055757 DIN: 00173792 DIN: 00173732
Sd/- Sd/-Kamlesh Kumar Agarwal Bajrang Lal SharmaChief Financial Officer Company Secretary
Place: Kolkata Place: KolkataDate: 29 May 2018 Date: 29 May 2018
132 Annual Report 2017-18
(1-29) (30-124) (125-284)
Corporate Overview Statutory Reports Financial Statements
STANDALONE STATEMENT Of PROfIT & LOSS for the year ended 31 March 2018
Amount in ` Lakhs
NoteYear ended
31 March 2018Year ended
31 March 2017I. Revenue from operations 26 202,152.30 147,125.42 II. Other income 27 776.73 789.87 III. Total income (I + II) 202,929.03 147,915.29 Iv. Expenses
Cost of materials consumed 28 133,249.40 88,052.80 Changes in inventories of finished goods and work in-progress
29 (771.63) 645.87
Excise duty 5,034.56 14,708.21 Employee benefits expense 30 4,663.10 3,585.39 Finance costs 31 7,042.98 8,047.45 Depreciation and amortisation expense 4 and 6 3,141.42 3,097.36 Other expenses 32 14,976.70 17,438.08Total expenses 167,336.53 135,575.16
v. Profit before tax (III-IV) 35,592.50 12,340.13 vI. Tax expenses 33
Current tax 7,609.88 2,644.45 Deferred tax 3,725.16 1,578.31
vII. Profit for the year (V-VI) 24,257.46 8,117.37 vIII. Other comprehensive income (net of tax)
A. Items that will not be reclassified subsequently to profit or loss (a) Remeasurements of defined benefit
liability/ (asset) (13.58) (11.69)
(b) Equity instruments through other comprehensive income - net change in fair value
13,794.02 5,509.67
Net other comprehensive income not to be reclassified subsequently to profit or loss
13,780.44 5,497.98
B. Items that will be reclassified subsequently to profit or loss(a) Effective portion of gains/(losses) on
hedging instruments in cash flow hedges 3,882.61 168.36
(b) Effective portion of gains/(losses) on hedging instruments in cash flow hedges reclassified to profit and loss
(3,774.56) -
Net other comprehensive income to be reclassified subsequently to profit or loss
108.05 168.36
Other comprehensive income for the year, net of tax 13,888.49 5,666.34 Ix. Total comprehensive income for the year (vII+vIII) 38,145.95 13,783.71 x. Earnings per equity share 34
[Face value of equity share ` 1 each (previous year ` 1 each)]- Basic 5.80 1.94 - Diluted 5.80 1.94
Significant accounting policies 3The accompanying notes form an integral part of the standalone financial statements.
As per our report of even date attached
For B S R & Co. LLP For and on behalf of the Board of Directors ofChartered Accountants Himadri Speciality Chemical LimitedFirm's Registration Number. 101248W/W-100022 CIN: L27106WB1987PLC042756
Sd/- Sd/- Sd/-Jayanta Mukhopadhyay Bankey Lal Choudhary Shyam Sundar ChoudharyPartner Managing Director Executive DirectorMembership No. 055757 DIN: 00173792 DIN: 00173732
Sd/- Sd/-Kamlesh Kumar Agarwal Bajrang Lal SharmaChief Financial Officer Company Secretary
Place: Kolkata Place: KolkataDate: 29 May 2018 Date: 29 May 2018
133Annual Report 2017-18
STANDALONE STATEMENT Of CASH fLOwSfor the year ended 31 March 2018
Amount in ` LakhsYear ended
31 March 2018Year ended
31 March 2017A. Cash flows from operating activities
Net profit before tax 35,592.50 12,340.13Adjustments for:
Depreciation and amortisation expense 3,141.42 3,097.36 Share based payments 103.79 25.40 Finance costs 7,042.98 8,047.45 Interest income (298.71) (360.69)Unwinding of discount on security deposits and others
(227.27) (166.63)
Gain of fair valuation of investments through profit or loss
(0.63) (65.56)
Dividend income on equity instruments (0.08) (0.22)Guarantee fee (7.28) (36.76)Gain on sale of current investments (mutual funds) (11.35) (29.57)Foreign exchange fluctuation (net) 781.12 1,873.62 Net gain on sale of property, plant and equipment - (39.21)
10,523.99 12,345.19 Operating cash flows before working capital changes
46,116.49 24,685.32
Working capital adjustments:(Increase) in inventories (2,312.74) (7,705.71)(Increase) in trade receivables (5,405.93) (1,593.90)(Increase) in financial and other assets (979.81) (730.68)Increase/ (decrease) in trade payables (3,111.35) 6,269.77 Increase/ (decrease) in financial, other liabilities and provisions
(1,721.75) 1,899.70
(13,531.58) (1,860.82)Cash generated from operating activities 32,584.91 22,824.50 Income tax paid (net) (7,922.68) (2,338.44)Net cash from operating activities (A) 24,662.23 20,486.06
B. Cash flows from investing activitiesAcquisition of property, plant and equipments (5,205.17) (1,153.49)Proceeds from sale of property, plant and equipments - 44.61 Interest income received 372.50 334.29 Dividends received 0.08 0.22 Guarantee fee received 125.29 1.89 Loan to a subsidiary (2,421.41) (154.44)Proceeds from sale of investments 6,237.05 2,802.66 Purchase of investments (6,200.00) - (Investment)/ redemption in fixed deposits with banks (having maturity of more than 3 months)
1,038.63 (781.27)
Net cash provided/ (used) in Investing activities (B) (6,053.03) 1,094.47
136 Annual Report 2017-18
(1-29) (30-124) (125-284)
Corporate Overview Statutory Reports Financial Statements
STANDALONE STATEMENT Of CASH fLOwSfor the year ended 31 March 2018 (Contd.)
Amount in ` LakhsYear ended
31 March 2018Year ended
31 March 2017C. Cash flows from financing activities
Repayment of non convertible debentures (10,000.00) - Proceeds from non-current borrowings 13,122.63 5,053.04 Repayment of non-current borrowings (15,223.53) (10,974.60)Increase/ (decrease) in current borrowings 1,959.35 (4,941.89)Interest paid (6,460.46) (10,255.11)Net proceeds/ (outflow) on settlement of derivative contracts
(917.54) (896.99)
Dividend paid (including dividend distribution tax) (503.59) (251.79)Net cash provided by/ (used in) financing activities (C)
(18,023.14) (22,267.34)
Net Increase/ (decrease) in cash and cash equivalents (A+B+C)
586.06 (686.81)
Cash and cash equivalents at 1 April 1,132.72 1,819.97 (refer note 9 to the Standalone financial statements)Effect of exchange rate fluctuations on cash held in foreign currency (EEFC accounts)
(0.74) (0.44)
Cash and cash equivalents at 31 March 1,718.04 1,132.72 (refer note 9 to the Standalone financial statements)
Notes:
1. Standalone Statement of Cash Flows has been prepared under the indirect method as set out in Ind AS 7
specified under Section 133 of the Companies Act, 2013.
2. Acquisition of property, plant and equipment includes movements of capital work-in-progress (including
capital advances and liability for capital goods) during the year.
3. Change in Liability arising from financing activities
Amount in ` Lakhs
1 April 2017Cash flow
(net)
Foreign exchange
movementFair value
Changes 31 March 2018Borrowing (including current maturities of long-term debt) - Non Current
41,543.32 (12,100.90) 88.46 62.02 29,592.90
Borrowing - Current 33,868.94 1,959.35 594.24 - 36,422.53
As per our report of even date attached
For B S R & Co. LLP For and on behalf of the Board of Directors ofChartered Accountants Himadri Speciality Chemical LimitedFirm's Registration Number. 101248W/W-100022 CIN: L27106WB1987PLC042756
Sd/- Sd/- Sd/-Jayanta Mukhopadhyay Bankey Lal Choudhary Shyam Sundar ChoudharyPartner Managing Director Executive DirectorMembership No. 055757 DIN: 00173792 DIN: 00173732
Sd/- Sd/-Kamlesh Kumar Agarwal Bajrang Lal SharmaChief Financial Officer Company Secretary
Place: Kolkata Place: KolkataDate: 29 May 2018 Date: 29 May 2018
137Annual Report 2017-18
1-33 34-148 149-330
Corporate Overview Statutory Reports Financial Statements
160 Annual Report 2018-19
Standalone Balance Sheetas at 31 March 2019
Amount in ` LakhsNote 31 March 2019 31 March 2018
ASSETS(1) Non-current assets
(a) Property, plant and equipment 4 108,980.90 109,680.58 (b) Capital work-in-progress 5 12,643.27 1,768.01 (c) Other intangible assets 6 233.93 236.14 (d) Financial assets
(i) Investments 7 25,921.85 35,324.03 (ii) Trade receivables 8 792.65 798.79 (iii) Loans 11 5,233.69 4,718.29 (iv) Other financial assets 12 4.72 3.04
(e) Non-current tax assets (net) 13 160.01 486.68 (f) Other non-current assets 14 12,449.54 5,317.03
Total non-current assets 166,420.56 158,332.59 (2) Current assets
(a) Inventories 15 53,890.73 41,519.79 (b) Financial assets
(i) Trade receivables 8 36,604.27 26,988.68 (ii) Cash and cash equivalents 9 952.90 1,718.04 (iii) Bank balances other than (ii) above 10 3,704.61 1,431.07 (iv) Loans 11 190.61 268.23 (v) Other financial assets 12 1,362.71 812.40
(c) Other current assets 16 15,470.65 10,226.76 Total current assets 112,176.48 82,964.97 TOTAL ASSETS 278,597.04 241,297.56 EQUITY AND LIABILITIESEquity
(a) Equity share capital 17 4,185.79 4,184.08 (b) Other equity 18 163,537.13 141,448.47
Total equity 167,722.92 145,632.55 Liabilities(1) Non-current liabilities
(a) Financial liabilities(i) Borrowings 19 18,827.83 23,119.18 (ii) Derivatives 21 376.86 583.65 (iii) Other financial liabilities 22 25.77 25.77
(b) Provisions 24 295.25 255.22 (c) Deferred tax liabilities (net) 33 12,788.16 9,710.84
Total non-current liabilities 32,313.87 33,694.66 (2) Current liabilities
(a) Financial liabilities(i) Borrowings 19 24,166.72 36,422.53 (ii) Trade payables 20
- total outstanding dues of micro enterprises and small enterprises
141.74 200.58
- total outstanding dues of creditors other than micro enterprises and small enterprises
40,973.62 11,625.64
(iii) Derivatives 21 228.05 185.91 (iv) Other financial liabilities 22 6,750.34 7,659.55
(b) Other current liabilities 23 6,007.08 5,757.31 (c) Provisions 24 54.92 40.24 (d) Current tax liabilities (net) 25 237.78 78.59
Total current liabilities 78,560.25 61,970.35 TOTAL EQUITY AND LIABILITIES 278,597.04 241,297.56 Significant accounting policies 3The accompanying notes form an integral part of the Standalone financial statements.
As per our report of even date attached
For B S R & Co. LLP For and on behalf of the Board of Directors ofChartered Accountants Himadri Speciality Chemical LimitedFirm’s Registration Number: 101248W/W-100022
CIN: L27106WB1987PLC042756
Sd/- Sd/- Sd/- Sd/-Jayanta Mukhopadhyay Bankey Lal Choudhary Shyam Sundar Choudhary Anurag ChoudharyPartner Managing Director Executive Director Chief Executive OfficerMembership No. 055757 DIN: 00173792 DIN: 00173732
Sd/- Sd/-Kamlesh Kumar Agarwal Bajrang Lal SharmaChief Financial Officer Company Secretary
Place: Kolkata Place: KolkataDate: 28 May 2019 Date: 28 May 2019
161
Standalone Statement of Profit & Loss for the year ended 31 March 2019
Amount in ` Lakhs
NoteYear ended
31 March 2019Year ended
31 March 2018I. Revenue from operations 26 237,661.90 202,152.30 II. Other income 27 1,069.44 776.73 III. Total income (I + II) 238,731.34 202,929.03 IV. Expenses
Cost of materials consumed 28 160,371.13 133,249.40 Changes in inventories of finished goods and work-in-progress
29 (1,590.28) (771.63)
Excise duty - 5,034.56 Employee benefits expense 30 5,812.42 4,663.10 Finance costs 31 7,056.94 7,042.98 Depreciation and amortisation expense 4 and 6 3,253.26 3,141.42 Other expenses 32 19,325.59 14,976.70 Total expenses 194,229.06 167,336.53
V. Profit Before tax (III-IV) 44,502.28 35,592.50 VI. Tax expenses
Current tax 33 9,587.01 7,609.88 Deferred tax charge 33 4,185.44 3,725.16 Total tax expenses 13,772.45 11,335.04
VII. Profit for the year (V-VI) 30,729.83 24,257.46 VIII. Other comprehensive income
A. Items that will not be reclassified subsequently to profit or loss (a) Remeasurements of the net defined benefit
plan (43.85) (20.77)
(b) Net gain/ (loss) on investment in equity instruments accounted at fair value
(9,402.15) 18,665.64
(c) Income tax relating to items that will not be reclassified to profit or loss
1,108.12 (4,864.43)
Net other comprehensive income not to be reclassified subsequently to profit or loss
(8,337.88) 13,780.44
B. Items that will be reclassified subsequently to profit or loss (a) Effective portion of gains on hedging
instruments in cash flow hedges - 3,882.61
(b) Effective portion of gains on hedging instruments in cash flow hedges reclassified to profit and loss
- (3,774.56)
(c) Income tax relating to items that will be reclassified to profit or loss
- -
Net other comprehensive income to be reclassified subsequently to profit or loss
- 108.05
Other comprehensive income for the year (net of income tax) (8,337.88) 13,888.49 IX. Total comprehensive income for the year (VII+VIII) 22,391.95 38,145.95 X. Earnings per equity share 34
[Face value of equity share ` 1 each (previous year ` 1 each)]- Basic 7.34 5.80 - Diluted 7.34 5.80
Significant accounting policies 3The accompanying notes form an integral part of the Standalone financial statements.
As per our report of even date attached
For B S R & Co. LLP For and on behalf of the Board of Directors ofChartered Accountants Himadri Speciality Chemical LimitedFirm’s Registration Number: 101248W/W-100022
CIN: L27106WB1987PLC042756
Sd/- Sd/- Sd/- Sd/-Jayanta Mukhopadhyay Bankey Lal Choudhary Shyam Sundar Choudhary Anurag ChoudharyPartner Managing Director Executive Director Chief Executive OfficerMembership No. 055757 DIN: 00173792 DIN: 00173732
Sd/- Sd/-Kamlesh Kumar Agarwal Bajrang Lal SharmaChief Financial Officer Company Secretary
Place: Kolkata Place: KolkataDate: 28 May 2019 Date: 28 May 2019
165
Standalone Statement of Cash Flowsfor the year ended 31 March 2019
Amount in ` LakhsYear ended
31 March 2019Year ended
31 March 2018A. Cash flows from operating activities
Net profit before tax 44,502.28 35,592.50 Adjustments for:
Depreciation and amortisation expense 3,253.26 3,141.42 Share based payments to employees - Equity settled 170.36 103.79 Finance costs 7,056.94 7,042.98 Interest income on bank deposits (139.21) (101.82)Interest on loan given (299.68) (196.89)Interest income on income tax refunds (116.07) - Unwinding of discount on security deposits and others
(144.08) (227.27)
Gain of fair valuation of investments through profit or loss
- (0.63)
Dividend income on equity instruments - (0.08)Guarantee fee - (7.28)Gain on sale proceeds of current investments measured at fair value through profit or loss
(4.05) (11.35)
Foreign exchange fluctuation (net) (870.96) 781.12 Net gain on sale of property, plant and equipment (1.67) -
Cash generated from operations before working capital changes
8,904.84 10,523.99
Operating cash flows before working capital changes 53,407.12 46,116.49 Working capital adjustments:
(Increase) in inventories (12,370.94) (2,312.74)(Increase) in trade receivables (9,657.29) (5,405.93)(Increase) in financial and other assets (5,054.07) (979.81)Increase/ (decrease) in trade payables 29,894.30 (3,111.35)Increase/ (decrease) in financial, other liabilities and provisions
485.36 (1,721.75)
Net changes in working capital 3,297.36 (13,531.58)Cash generated from operating activities 56,704.48 32,584.91 Tax paid (net of refunds) (9,543.89) (7,922.68)Net cash generated from operating activities (A) 47,160.59 24,662.23
B. Cash flows from investing activitiesPurchase of property, plant and equipments (20,010.59) (4,968.90)Sales proceeds of property, plant and equipments 5.99 - Purchase of intangible assets (47.75) (236.27)Interest income received 304.41 372.50 Dividends received - 0.08 Guarantee fee received - 125.29 Loan given to a subsidiary (209.87) (2,421.41)Sale proceeds of current investments 4,604.08 6,237.05 Purchase of current investments (4,600.00) (6,200.00)(Investment in)/ redemption of bank deposits (having maturity of more than 3 months)
(2,276.59) 1,038.63
Net cash provided by/ (used in) investing activities (B) (22,230.32) (6,053.03)C. Cash flows from financing activities
Proceeds from allotment of equity share under employee stock options
32.47 -
Repayment of non-convertible debentures - (10,000.00)Proceeds from non-current borrowings 411.89 13,122.63 Repayment of non-current borrowings (6,569.60) (15,223.53)Increase/ (decrease) in current borrowings (12,470.15) 1,959.35 Interest paid (6,548.24) (6,460.46)
1-33 34-148 149-330
Corporate Overview Statutory Reports Financial Statements
166 Annual Report 2018-19
Standalone Statement of Cash Flowsfor the year ended 31 March 2019 (Contd.)
Amount in ` LakhsYear ended
31 March 2019Year ended
31 March 2018Net outflow on settlement of derivative contracts (47.35) (917.54)Dividend paid (including dividend distribution tax) (504.41) (503.59)
Net cash provided by/ (used in) financing activities (C)
(25,695.39) (18,023.14)
Net increase/ (decrease) in cash and cash equivalents (A+B+C) (765.12) 586.06 Cash and cash equivalents at the beginning of the year 1,718.04 1,132.72 (refer note 9 to the Standalone financial statements)Effect of exchange rate fluctuations on cash held in foreign currency (EEFC accounts)
(0.02) (0.74)
Cash and cash equivalents at the end of the year 952.90 1,718.04 (refer note 9 to the Standalone financial statements)
Notes:
1. Standalone Statement of Cash Flows has been prepared under the indirect method as set out in Ind AS 7
“Statement of cash flows” specified under Section 133 of the Companies Act, 2013.
2. Purchase of property, plant and equipment includes movements of capital work-in-progress (including capital
advances and liability for capital goods) during the year.
3. Change in Liability arising from financing activities
Amount in ` Lakhs
1 April 2018Cash flow
(net)
Foreign exchange
movementFair Value
Changes 31 March 2019Borrowing (including current maturities of non-current borrowings) - Non Current
29,592.90 (6,157.71) 31.86 13.23 23,480.28
Borrowing - Current 36,422.53 (12,470.15) 214.34 - 24,166.72
Amount in ` Lakhs
1 April 2017Cash flow
(net)
Foreign exchange
movementFair Value Changes 31 March 2018
Borrowing (including current maturities of non-current borrowings) - Non Current
41,543.32 (12,100.90) 88.46 62.02 29,592.90
Borrowing - Current 33,868.94 1,959.35 594.24 - 36,422.53
The accompanying notes form an integral part of the Standalone financial statements.
As per our report of even date attached
For B S R & Co. LLP For and on behalf of the Board of Directors ofChartered Accountants Himadri Speciality Chemical LimitedFirm’s Registration Number: 101248W/W-100022
CIN: L27106WB1987PLC042756
Sd/- Sd/- Sd/- Sd/-Jayanta Mukhopadhyay Bankey Lal Choudhary Shyam Sundar Choudhary Anurag ChoudharyPartner Managing Director Executive Director Chief Executive OfficerMembership No. 055757 DIN: 00173792 DIN: 00173732
Sd/- Sd/-Kamlesh Kumar Agarwal Bajrang Lal SharmaChief Financial Officer Company Secretary
Place: Kolkata Place: KolkataDate: 28 May 2019 Date: 28 May 2019