Upload
mohnish-katre
View
217
Download
0
Embed Size (px)
Citation preview
8/2/2019 Alok Result 30 Sept 2011
1/24
P E R F O R M A N C E R E P O R T
First Quarter Ended
30 June 2011
Celebrating 25 years 1986-2011
8/2/2019 Alok Result 30 Sept 2011
2/24
END
TO
END
SOLU
TIONS
ACR
OSS
THEVA
LUECH
AIN
To be the world's best integrated textile solutions enterprisewith leadership position across products and markets,
ex ceedin g customer & sta keholder ex pecta tion s .
The barometer of our success would be reflected by our ROCE
WE WILL:
Maximize people development initiativesOptimize use of all resources
Become a process driven organization
Exceed compliance and global quality standards
Actively explore potential market & products
Offer innovative, customized and value added servicesto our customers
Be a knowledge leader & an innovator in our businesses
Be an ethical, transparent and responsible globalorganization
Alok Mission
Alok Vision
Celebrating 25 Years 1986-2011
8/2/2019 Alok Result 30 Sept 2011
3/24
1TMIntegrated Textile Solutions
PERFORMANCE HIGHLIGHTS
BUSINESS HIGHLIGHTS: FOR THE QUARTER ENDED 30 JUNE 2011
Sales at Rs. 1,644.89 crore
An increase of 49.68% over quarter ended 30 June 2010 (Rs. 1,098.97 crore)
Exports at Rs. 602.19 crore
Compared to Rs. 435.85 crore during Q1 2010-11: a growth of 38.16%
EBIDTA at Rs. 452.92 crore
Growth of 38.57% over corresponding quarter in 2010-11 (Rs. 326.85 crore)
PAT at Rs. 57.77 crore
An increase of 24.21% over Q1 2010-11 (Rs.46.51 crore)
8/2/2019 Alok Result 30 Sept 2011
4/24
2 Celebrating 25 Years 1986-2011
(Rs. Crore)
PARTICULARS 1ST QUARTER ENDED YEAR ENDED
30.06.2011[3 months]
(Provisional)
30.06.2010[3 months]
(Provisional)
31.03.2011[12 months]
(Audited)
1. Net Sales / Income from operations 1,644.89 1,098.97 6,388.442. Other Income 0.70 0.05 6.42
3. Total Income 1,645.59 1,099.02 6,394.86
4. Total Expenditure 1,192.67 772.17 4,638.91
a] (Increase) / Decrease in Stock in trade and work inprogress
(284.66) (104.34) (216.23)
b] Consumption of raw material 1,090.69 617.36 3,567.36
c] Employee Cost 54.96 41.60 199.75
d] Other Expenditure 331.68 217.55 1,087.63
Proit Before Interest & Depreciation 452.92 326.85 1,756.35
5. Depreciation 164.97 99.32 518.79
6. Interest 200.44 157.08 654.377. Proit from ordinary activities Before Tax 87.51 70.45 583.19
8. Provision for Tax Current 17.50 14.37 120.40
MAT Credit 0.00 0.00 (42.25)
Deferred 12.24 9.57 100.68
Net Proit from ordinary activities after Tax 57.77 46.51 404.37
9. Extra ordinary items (Net of tax) 0.00 0.00 0.00
10. Net Proit for the period 57.77 46.51 404.37
11. Paid up Equity Share Capital(Face Value Rs.10/- per equity Shares)
787.79 787.79 787.79
12. Reserve excluding revaluation reserves (as per BalanceSheet of previous accounting year) 2,309.79 1,928.40 2,309.79
13. Earnings Per Share (Rs.)
Basic 0.73 0.59 5.13
Diluted 0.73 0.59 5.13
14. Aggregate of public share holdings
-Number of Shares 55,64,08,006 56,44,21,927 56,44,21,927
-Percentage of Shareholding 70.63% 71.65% 71.65%
15. Promoter & Promoter Group Shareholding
a) Pledged/Encumbered
- Number of Shares 13,64,27,640 20,22,42,838 15,24,27,640
- Percentage of Shares (as a % of the totalshareholding of promoter and promoter group)
58.96% 90.54% 68.24%
- Percentage of Shares (as a % of the total sharecapital of the Company)
17.32% 25.67% 19.35%
b) Non- encumbered
- Number of Shares 9,49,48,711 2,11,33,513 7,09,48,711
- Percentage of Shares (as a % of the totalshareholding of promoter and promoter group
41.04% 9.46% 31.76%
- Percentage of Shares (as a % of the total sharecapital of the Company)
12.05% 2.68% 9.00%
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30 JUNE 2011
8/2/2019 Alok Result 30 Sept 2011
5/24
3TMIntegrated Textile Solutions
NOTES:
1. The above results have been reviewed by the Audit Committee and taken on record by the Board of Directors
of the Company at their meeting held on 29 July 2011. The same are subject to Limited Review by the statutory
auditors of the Company.
2. Total Income has increased by 49.73% over the corresponding quarter of the previous year to reach Rs.
1,645.59 crore. Domestic sales increased by 57.24% over Q4, 2009-10 to reach Rs.1,042.70 crore, while exportsales was Rs.602.19 crore an increase of 38.16%
3. The Board of Directors of the company have considered and approved the proposal for amalgamation of
Grabal Alok Impex Limited (GAIL) into the company as per the terms and conditions mentioned in the Scheme
of Amalgamation placed before the Board, subject to necessary approvals from the statutory and regulatory
authorities. The swap ratio as determined by M/s Ernst & Young Pvt Ltd., independent valuer and the fairness
report provided by M/s Fortune Financials Services (India) Ltd. and as approved by the Board is 1 (One) fully
paid equity share of Rs. 10/ each of the company to be issued and allotted for every 1 (One) fully paid equity
share of Rs. 10/ each held in GAIL.
4. The company has contracted the following deals relating to real estate held by its wholly owned subsidiary:
i. TwocommercialloorsoutofTwentyloorsinTowerBofPeninsulaBusinessPark,LowerParelhave
been leased out to a leading FMCG MNC;
ii. OnelooroutofEightloorsinAshfordCentre,LowerParelhavebeensoldtoareputeddomesticNBFC;
iii. Seventy Three Acres of land at Silvassa have been agreed to be sold to six different parties.
5. TheBoardconsideredandrecommendedequitydividendof2.5%i.e.Rs.0.25perequitysharefortheinancial
year ending March 31, 2011, subject to the approval of the members at the Annual General Meeting, which has
beenixedforThursdaythe29September2011.
6. No. of investor complaints at the beginning of the quarter were NIL, received during the quarter were 16,
disposed off during the quarter were 16and lying unsolved at the end of the quarter were NIL.
7. The entire operations of the Company relate to only one segment viz., textiles. The risk and returns are
generally perceived by the management to be the same for all units and thus treated as one segment.
8. Theiguresofpreviousquarter/periodhavebeenreclassiied/regroupedwherevernecessarytocorrespond
with those of the current quarter/period.
By order of the Board
For ALOK INDUSTRIES LIMITED
Sd/-
DILIP B. JIWRAJKA
Managing Director
Place: Mumbai
Date: 29 July 2011
8/2/2019 Alok Result 30 Sept 2011
6/24
4 Celebrating 25 Years 1986-2011
RightsIssueofFCDs of Rs. 51crores.
Turnoversurpasses Rs.550 crores
Expansionofweaving andwider widthprocessingcapacitiesunder TUFSof Rs.225crores
Turnoverof Rs. 350crores
RightsIssueof Rs. 14.98crores
TurnoverofRs.100 crores
IPOofRs.4.50 crores
Incorporation
Collaborationwith Grabher,Austria to formGrabal AlokImpex Ltd. formanufacture ofembroidery
Private
placement ofRs. 15 croresto CenturyDirect Fund(Mauritius)
1986 1993 1995 1996 1997 1998 2000 2001 2002
MAJOR MILESTONES OF LAST 25 YEARS
8/2/2019 Alok Result 30 Sept 2011
7/24
5TMIntegrated Textile Solutions
TurnoverRs.6388 crores,export Rs. 2217Crores.
IMC-RamakrishnaBajaj Award for
manufacturing. Expansionof
polyester from600 tons/day to1400 tons/day
RecognisedStarTrading House
TurnoverRs.4311crores, export Rs. 1500crores
QIPRs.425crores
Addedterrytoweltoitshome textile range
RightsIssueRs.450 crores
Completedintegration ofpolyester bycontinuouspolymerization
capacity of 600tpa.
EmbarkedonphaseIV of expansionproject aggregatingto Rs. 1180 crores
RaisedECB
equivalent to USD90 mn
AcquirestakeinUKretail store twentyone
CompletedPhaseI & II expansiondrive
FCCBissueofUSD 70 mn.
FCCBissueofUSD 35 mn.
ExportTradingHouse Statusawarded.
Forayintohometextiles.
TurnoversurpassesRs.1000crores (Exports exceeded
Rs.100 crores)
MezzanineFinanceTransactionof Rs.101 crores with CLSAgroup
InitiatedPhaseI&IIofRs.1175crores
ISO9001:2000certiicationobtained
ForayintodomesticretailingunderthenameH&A
EmbarkedonPhaseIIIofexpansionprojectaggregating to Rs. 1100 crores
AcquisitionofMiletaInternational(60%stake), a company based in Czech Republic
Contractedtoacquirepremiumpropertiesadmeasuring about 7,00,000sq. feet. InLower Parel
Turnover-Rs.1800croreswithexports-Rs.640 crores
2003 2004 2005 2006 2007 2008 2009 2010 2011
8/2/2019 Alok Result 30 Sept 2011
8/24
6 Celebrating 25 Years 1986-2011
KEY FINANCIAL INDICATORS SINCE INCEPTION TO FY 2011
(Rs. Crore)
PARTICULARS3 1. 03 .2 01 1 3 1. 03 .2 01 0 3 1.0 3.2 00 9 3 1.0 3. 20 08 3 1. 03 .2 00 7 3 1. 03 .2 00 6 3 1.0 3.2 00 5 3 1.0 3. 20 04 3 1.0 3. 20 03 3 1. 03 .2 00 2
(12 months) (12 months) (12 months) (12 months) (12 months) (12 months) (12 months) (12 months) (12 months) (12 months)
Net Sales 6388.44 4311.17 2976.93 2170.41 1824.68 1420.70 1224.50 1068.85 795.41 564.97
Export Sales (2217.43) (1558.99) (1054.5) (1036.89) (641.71) (394.55) (306.53) (111.48) (26.620 (21.65)
EBITDA 1756.36 1272.48 822.61 547.75 410.96 301.26 244.53 198.40 137.14 98.14Proit after Tax (PAT) 404.37 247.34 188.37 167.73 135.18 109.21 89.25 71.08 42.31 37.91
Net Cash accruals 1025 688.93 496.7 366.86 273.75 190.50 118.89 98.86 61.54 51.22
Equity Share Capital 787.79 787.79 196.97 187.17 170.37 157.47 134.02 88.23 87.69 42.29
Reserves 2309.79 1928.4 1410.39 1134.01 854.07 650.06 460.73 218 161.58 140.85
Application Money/Warrants - - 147.70 110.16 - - 3.32 21.42 - 51.03
Deferred Tax 507.66 406.98 307.97 210.48 141.82 100.1 75.1 50.52 36.33 2.64
Tangible Net Worth 3605.24 3123.17 2063.03 1641.82 1166.26 907.63 673.17 378.17 285.6 236.81
Gross Block 10075.51 8215.61 6692.71 4368.05 2954.2 2121.89 1047.57 690.84 453.59 355.04
Net Block 8488.39 7145.11 5983.86 3891.3 2583.8 1874.24 879.27 579.53 380.39 307.3
Total Borrowings 9653.56 8509.68 6596.35 5767.31 3336.76 2212.5 1403.24 902.09 549.17 401.51
G.P. to Net Sales (%) 27.49% 29.52% 27.63% 25.24% 22.52% 21.21% 19.99% 18.56% 17.24% 17.37%
PAT to Net Sales (%) 6.33% 5.74% 6.33% 7.73% 7.41% 7.69% 7.29% 6.65% 5.32% 6.71%
Return on Capital Employed 11.53% 9.52% 8.20% 6.96% 8.41% 8.33% 10.90% 13.89% 14.03% 13.37%
Net Debt: Equity 2.36 2.28 3.03 2.49 2.19 1.85 1.35 1.97 1.84 1.62
Dividend (%) 2.50% 2.50% 7.50% 12.00% 14.00% 12.00% 12.00% 10.00% 10.00% 10.00%
EPS 5.13 4.57 9.64 11.4 9.7 6.68 7.25 7.90 7.36 11.77
Book Value 39.32 34.48 89.1 76.47 60.13 51.28 44.38 34.20 28.43 43.31
8/2/2019 Alok Result 30 Sept 2011
9/24
7TMIntegrated Textile Solutions
(Rs. Crore)
31.03.2001 31.03.2000 31.03.1999 31.03.1998 31.03.1997 1.03.1996 31.03.1995 31.03.1994 31.12.1992 31.03.1992 31.03.1991 31.03.1990 31.03.1989 30.10.1987
(12 months) (12 months) (12 months) (12 months) (12 months) (12 months) (12 months) (15 months) (9 months) (12 months) (12 months) (12 months) (17 months) (12 months)
443.29 322.17 238.18 196.71 167.97 120.55 81.72 55.84 26.43 16.53 15.88 8.92 0.38 0.04
(18.74) (9.37) (6.1) (3.17) (2.77) (0.1) (1.6) (2.87) (0.18) - - - - -
76.21 60.86 44.7 26.94 17.96 14.25 8.73 3.52 1.45 1 0.5 0.21 0.01 -29.47 21.38 14.96 10.22 6.23 6.02 4.88 1.92 0.8 0.53 0.11 (0.11) (0.03) -
37.76 26.27 16.4 10.80 7.86 8.21 6.14 1.04 0.94 0.67 0.24 0.02 - -
28.35 27.82 23.64 11.62 9.71 3.74 3.75 3.49 0.73 0.25 0.25 0.25 0.25 -
103.13 75.04 46.2 28.14 23.22 13.1 7.78 3.6 0.99 0.49 - (0.12) (0.03) -
29.48 13.95 1.35 1.13 - 7.24 - - 0.81 - 0.14 0.14 0.14 0.03
- - - - - - - - - - - - - -
160.96 116.81 71.19 40.89 32.93 24.08 11.53 7.09 2.53 0.74 0.38 0.27 0.37 0.03
227.89 144.94 130.08 105.25 62.23 45.24 24.84 7.98 3.76 2.15 - 1.42 1.39 0.03
195.82 123.99 116.75 98.15 54.79 35.35 21.83 8.07 3.41 1.74 1.22 1.28 1.36 0.03
285.16 209.32 183.68 145.88 73.47 47.28 33.34 11.92 2.51 2.29 1.89 1.167 1.13 -
17.19% 17.07% 15.98% 13.70% 10.69% 11.82% 10.56% 6.30% 5.49% 6.04% 3.15% 2.35% 2.63% 2.29%
6.65% 6.00% 5.35% 5.20% 3.71% 4.99% 5.97% 3.43% 3.03% 3.21% 6.93% -1.23% -7.89% 0.75%
14.61% 15.59% 14.97% 12.70% 14.44% 16.23% 19.46% 18.52% 28.77% 33.00% 21.95% 14.57% 0.67% -
1.65 1.58 2.44 3.46 2.14 1.89 2.85 1.36 0.85 2.93 4.53 4.10 3.09 -
10.00% 10.00% 20.00% 20.00% 20.00% 20..00% 20.00% 20.00% 15.00% 10.00% - - - -
10.39 8.91 8.98 8.8 16.25 16.10 13.01 5.50 10.96 21.20 4.40 (4.40) (1.20) -
46.38 36.97 29.54 34.22 33.91 64.39 30.75 20.32 34.66 29.60 15.40 10.96 14.57 840.29
8/2/2019 Alok Result 30 Sept 2011
10/24
8 Celebrating 25 Years 1986-2011
The`H&Achainofstoresopenedanadditional20shopsduringthequarter;takingthetotalnumberto311 (including shop-in-shop); target is to have about 500 stores operational by March 2012. In AnnualSurvey, Franchise India has ranked H&A as one of the top 100 franchising opportunities in India for 2011
`StoreTwentyOne,theUKretailchainofvalue-formatstorescontinuedtodoreasonablywellduringthequarter.GrabalAlok(UK)Ltd,theCompanythatoperatesthesestorescontinuedtogeneratepositiveEBIDTA of 0.71 mn. The sales for Q1 2011-12 was at 31.47 mn as compared to 30.84 mn in thecorresponding quarter of the previous period. As of today, there is a total of 219stores
The Board of Directors of the company have considered and approved the proposal for amalgamation ofGrabal Alok Impex Limited (GAIL) into the company as per the terms and conditions mentioned in theScheme of Amalgamation placed before the Board, subject to necessary approvals from the statutory andregulatory authorities. The swap ratio as determined by M/s Ernst & Young Pvt. Ltd., independent valuerand the fairness report provided by M/s Fortune Financials Services (India) Ltd. and as approved by theBoard is 1 (One) fully paid equity share of Rs. 10/ each of the company to be issued and allotted forevery 1 (One) fully paid equity share of Rs. 10/ each held in GAIL.
CreditAnalysisandResearchLtd(CARE)hasmaintainedCAREA+ratingfortheCompanyslongtermfacilities,whileratingfortheCompanysshorttermcommercialpaper/MIBORlinkedshorttermNCDshavebeenupgradedandassignedCAREA1+rating
The company has contracted the following deals relating to real estate held by its wholly owned subsidiary:
TwocommercialloorsoutofTwentyloorsinTowerBofPeninsulaBusinessPark,LowerParelhave been leased out to a leading FMCG MNC;
OnelooroutofEightloorsinAshfordCentre,LowerParelhavebeensoldtoareputeddomesticNBFC;
SeventyThreeAcresoflandatSilvassahavebeenagreedtobesoldtosixdifferentparties
The Companyhas intensiiedefforts tosell/ lease its primecommercialproperties atLower Parel,Mumbai(heldbywhollyownedsubsidiaries)andisconidentofmakingsigniicantprogressinthis
direction by the year end
KEY DEVELOPMENTS IN THE QUARTER
8/2/2019 Alok Result 30 Sept 2011
11/24
9TMIntegrated Textile Solutions
PROFIT AND LOSS: FOR THE QUARTER
Rs. Crore
PROFIT & LOSS ACCOUNT Q/ENDED
30 JUNE 2011
Q/ENDED
30 JUNE 2010
% Change
% to Sales % to Sales
Domestic Sales 1,042.70 663.12 57.24%
Export Sales 602.19 435.85 38.16%
Net Sales 1,644.89 1,098.97 49.68%
Other Income 0.70 0.05 1300.00%
TOTAL INCOME 1,645.59 1,099.02 49.73%
Material Costs 806.03 49.00% 513.02 46.68% 57.11%
People Costs 54.96 3.34% 41.60 3.79% 32.12%
Other Expenses 331.68 20.16% 217.55 19.80% 52.46%
EBIDTA 452.92 27.53% 326.85 29.74% 38.57%
Depreciation 164.97 10.03% 99.32 9.04% 66.10%
EBIT 287.95 17.51% 227.53 20.70% 26.55%
Interest & Finance Costs 200.44 12.19% 157.08 14.29% 27.60%
PBT 87.51 5.32% 70.45 6.41% 24.22%
Less: Provision for Taxes
1.81%
2.18%
24.24%Current Tax 17.50 14.37
Deferred Tax 12.24 9.57
PAT 57.77 3.51% 46.51 4.23% 24.21%
KEY FINANCIALS AT A GLANCE
8/2/2019 Alok Result 30 Sept 2011
12/24
10 Celebrating 25 Years 1986-2011
DIVISIONAL PERFORMANCE : FOR THE QUARTER
Rs. Crore
PARTICULARS 3 M YTD ENDED 30 JUN 2011 3M YTD ENDED 30 JUN 2010
CHANGE
LOCAL
EXPORT
TOTAL
%T
O
TOTAL
SALES
LOCAL
EXPORT
TOTAL
%T
O
TOTAL
SALES
COTTON YARN 28.95 14.15 43.10 2.62% 19.07 30.53 49.60 4.51% (13.10%)
APPAREL FABRIC
WOVEN 488.97 116.84 605.81 36.82% 397.02 41.73 438.75 39.92% 38.08%
KNITTING 36.09 38.22 74.31 4.52% 23.28 21.59 44.87 4.08% 65.61%
525.06 155.06 680.12 41.34% 420.30 63.32 483.62 44.00% 40.63%
HOME TEXTILES 3.77 231.59 235.36 14.31% 11.50 170.16 181.66 16.53% 29.56%
GARMENTS 3.17 39.53 42.70 2.60% 1.81 29.37 31.18 2.84% 36.95%
POLYESTER YARN 481.75 161.86 643.61 39.13% 210.44 142.47 352.91 32.12% 82.37%
TOTAL 1,042.70 602.19 1,644.89 100.00% 663.12 435.85 1,098.97 100.00% 49.68%
DIVISIONAL PERFORMANCE: RELATIVE SHARE IN TOTAL SALES
Q1 JUNE 2011 Q1 JUNE 2010
DIVISIONAL PERFORMANCE
8/2/2019 Alok Result 30 Sept 2011
13/24
11TMIntegrated Textile Solutions
SUMMARY PROFIT & LOSS ACCOUNT: FOR THE QUARTER
Rs. Crore
PARTICULARS 3M ENDED
30 JUN 2011
3M ENDED
30 JUN 2010
NET SALES 1,644.89 1,098.97
EBIDTA 452.92 326.85
DEPRECIATION 164.97 99.32
MISC. EXP. W/OFF 0.00 0.00
PBIT 287.95 227.53
INTEREST 200.44 157.08
PBT 87.51 70.45
PAT 57.77 46.51
CASH PROFIT 222.74 145.83
OPERATING NET CASH ACCRUALS 222.74 145.83
SUMMARY BALANCE SHEET
Rs. Crore
PARTICULARS AS ON
30 JUN 2011
AS ON
31 MAR 2011
(Audited)
TANGIBLE NET WORTH 3,150.84 3,097.58
TOTAL LONG TERM BORROWINGS 7,505.00 7,129.67TOTAL SHORT TERM BORROWINGS 2,394.08 2,523.89
TOTAL BORROWINGS 9,899.07 9,653.56
DEFERRED TAX LIABILITY 494.20 507.66
TOTAL LIABILITIES 13,544.11 13,258.80
NET FIXED ASSETS 8,689.36 8,488.39
TOTAL INVESTMENTS 187.53 167.20
Foreign Currency Translation Monetary A/c 0.00 (0.22)
CURRENT ASSETS 5,551.57 5,579.46
CURRENT LIABILITIES 884.35 976.03
NET CURRENT ASSETS 4,667.22 4,603.43
TOTAL ASSETS 13,544.11 13,258.80
FINANCIAL POSITION
8/2/2019 Alok Result 30 Sept 2011
14/24
12 Celebrating 25 Years 1986-2011
CASH FLOW
Rs. Crore
PARTICULARS Q1 Annual
2011-12
(Provisional)
2010-11
(Audited)NET CASH GENERATED FROM OPERATING ACTIVITIES (38.68) 1,135.50
NET CASH USED IN INVESTING ACTIVITIES (486.09) (1195.66)
NET CASH GENERATED FROM FINANCING ACTIVITIES (43.05) 369.37
NET FLOW (567.81) 309.22
CASH AND CASH EQUIVALENTS
AT THE BEGINNING OF THE PERIOD 1,099.37 587.97
AT THE END OF THE PERIOD 531.56 897.19NET INCREASE IN CASH AND CASH EQUIVALENTS (567.81) 309.22
KEY RATIOS
PARTICULARS 30-JUN-11
(3 Months)
(Provisional)
2010-11
(12 Months)
(Audited)
2009-10
(12 Months)
(Audited)
Proitability Ratios
EBITDA (%) 27.53% 27.49% 29.52%
ProitBeforeTaxMargin(%) 5.32% 9.13% 8.69%ProitAfterTaxMargin(%) 3.51% 6.33% 5.74%
Return on Net worth (%) 6.34% 11.22% 7.92%
Return on Capital Employed (%) 10.33% 11.53% 9.52%
Balance Sheet Ratios
Net Debt (Long Term) Equity including Deferred Tax Liability 1.88 1.66 1.62
Net Total Debt Equity including Deferred Tax Liability 2.53 2.36 2.28
Net Total Debt / EBITDA 5.09 4.85 5.59
Current Ratio 1.69 1.59 1.83
Coverage Ratios
PBDIT/Interest 2.26 2.68 2.38Debtors Turnover Days 89 98 93
Inventory Turnover Days 136 114 125
FINANCIAL POSITION
8/2/2019 Alok Result 30 Sept 2011
15/24
13TMIntegrated Textile Solutions
SHARE CAPITAL AND TANGIBLE NET WORTH
Rs. Crore
PARTICULARS
AS ON
30 JUN 2011 31 MAR 2011
(Audited)
EQUITY CAPITAL 787.79 787.79
SECURITIES PREMIUM RESERVE 880.39 880.39
GENERAL RESERVE 274.98 274.98
P&L ACCOUNT 888.32 921.60
OTHERS 319.36 232.82
TANGIBLE NET WORTH 3,150.84 3,097.58
LOANS: LONG AND SHORT TERM
Rs. Crore
PARTICULARS AS ON
30 JUN 2011 31 MAR 2011(Audited)
SECURED LOANS 7,398.24 6,967.45
UNSECURED LOANS 106.75 162.22
TOTAL LONG TERM BORROWINGS (A) 7,505.00 7,129.67
SECURED LOANS 1,072.30 1,092.71
UNSECURED LOANS 205.24 264.95
WORKINGCAPITALBORROWINGS 1,116.54 1,166.23
TOTAL SHORT TERM BORROWINGS (B) 2,394.08 2,523.89
TOTAL BORROWINGS (A+B) 9,899.07 9,653.56
LESS:CASH&BANKBALANCES (669.06) (1,141.21)
NET BORROWINGS 9,230.01 8,512.35
FINANCIAL POSITION
8/2/2019 Alok Result 30 Sept 2011
16/24
14 Celebrating 25 Years 1986-2011
FIXED ASSETS
Rs. Crore
PARTICULARS
AS ON
30 JUN 2011 31 MAR 2011
(Audited)
FIXED ASSETS 9,297.49 9,014.31
CAPITALWORKINPROGRESS 1,149.33 1,061.20
GROSS FIXED ASSETS 10,446.82 10,075.51
LESS: DEPRECIATION (1,757.46) (1,587.12)
NET FIXED ASSETS 8,689.36 8,488.39
NET CURRENT ASSETS
Rs. Crore
PARTICULARS
AS ON
30 JUN 2011 31 MAR 2011
(Audited)
INVENTORIES 2,483.76 1,995.61
DEBTORS 1,630.70 1,708.67
CASH&BANKBALANCES 669.06 1,141.21
LOANS & ADVANCES 768.05 733.97
TOTAL CURRENT ASSETS 5,551.57 5,579.46
SUNDRY CREDITORS 795.18 844.27
OTHER CURRENT LIABILITIES 66.26 68.97
PROVISIONS 22.91 62.79
TOTAL CURRENT LIABILITIES 884.35 976.03NET CURRENT ASSETS 4,667.22 4,603.43
CAPACITIES
Divisions Units Current Capacities Capacities under
Implementation
Capacities Post
Expansions
SPINNING Tons 69,040 10,960 80,000
(Spindles) ( 3,43,840) (68,000) (4,11,840)
HOME TEXTILES
Processing mn mtrs 82.5 22.5 105
Weaving mn mtrs 68 24 92
Terry Towels Tons 6,700 6,700 13,400
APPAREL FABRIC
Processing Woven mn mtrs 105 21 126
Weaving mn mtrs 93 17 110
Knits Tons 18,200 6,800 25,000
GARMENTS mn pcs 22 - 22
POLYESTER
DTY Tons 1,14,000 56,000 1,70,000
FDY Tons 65,700 - 65,700
POY & Chips Tons 3,00,000 2,00,000 5,00,000
FINANCIAL ANALYSIS
8/2/2019 Alok Result 30 Sept 2011
17/24
15TMIntegrated Textile Solutions
SHARE PRICE AND VOLUMES
Month BSE (In Rs. per share) NSE (In Rs. Per share)
High Low Volume High Low Volume
Apr-11 28 22 10,04,62,800 27.9 21.8 35,73,98,800
May-11 27.8 23.75 5,13,09,300 27.8 23.75 20,61,21,600
Jun-11 28.5 22.85 5,12,69,100 28.5 22.8 22,14,77,800
SHARE PERFORMANCE VIS-A-VIS STOCK MARKET INDICES
Note: Share prices and indices indexed to 100 as on 1 April 2011
EQUITY INFORMATION
Equity as on 30 JUN 2011 78.78 crore
BSE NSE
Closing Price as on 30 JUN 2011 25.20 25.15
3-Month High Low High: 28.50 High: 28.50
Low: 22.00 Low: 21.80
Market Capitalisation as on 30 JUN 2011 (Rs) 1,985.26 crore
SHAREHOLDING PATTERN
SHAREHOLDER ENTITIES CURRENT QUARTER PREVIOUS QUARTER
Promoters 29.37% 28.35%
Banks, Mutual Funds And FIs 11.69% 13.41%
FIIs, NRIs And OCB 20.68% 23.12%
Other Corporate Bodies and Public 38.26% 35.12%
Total 100.00% 100.00%
58.96%ofthepromotersholdinghavebeenpledgedwithFIIs,MFsandotherlendersaspartofloan
conditions. This represents a sum total of 13,64,27,640 equity shares
CAPITAL INFORMATION
8/2/2019 Alok Result 30 Sept 2011
18/24
16 Celebrating 25 Years 1986-2011
TOP TEN SHARE HOLDERS AS AT 30 JUN 2011
Sr. No Name of Shareholder Number of
Shares
% Holding
1 Promoters 231,376,351 29.37%
2 Caledonia Investments PLC 81,391,489 10.33%3 Life Insurance Corporation of India 26,964,136 3.42%
4 IndusCapitalAdvisors(UK)LLPA/CIndusIndiaFund(Mauritius)Ltd
25,897,416 3.29%
5 IFCI Limited 21,440,823 2.72%
6 Macquarie Bank Limited 18,680,000 2.37%
7 Axis Bank limited 17,300,000 2.20%
8 IL&FS Trust Company Limited A/C IL&FS Private Equity Trust Leverage India Ltd
12,602,457 1.60%
9 BNP Paribas Arbitrage 12,256,650 1.56%
10 IDBI Bank Ltd 10,788,161 1.37%
Sub-total 458,697,483 58.23%
Other Share Holders 329,086,874 41.77%
Total 787,784,357 100.00%
CAPITAL INFORMATION
BOARD OF DIRECTORS
Sr. No Full Name Designation
1 Ashok Bhagirathmal Jiwrajka Executive Chairman
2 Dilip Bhagirathmal Jiwrajka Managing Director
3 Surendra Bhagirathmal Jiwrajka Joint Managing Director
4 ChandraKumarGovindramBubna Executive Director
5 Ashok Girdharidas Rajani Independent Director
6 KandarpRatanchandModi Independent Director
7 Timothy Charles William Ingram Non-Executive Director
8 Thankom Thomas Mathew Independent Nominee Director - LIC
9 David Paul Rasquinha Independent Nominee Director - Exim Bank
10 Muthu Venkatavarada Iyengar Mudambai Independent Nominee Director - IFCI Limited
11 Maya Chakravorty Independent Nominee Director - IDBI Bank
8/2/2019 Alok Result 30 Sept 2011
19/24
17TMIntegrated Textile Solutions
THE GLOBAL ECONOMY
Activity is slowing down temporarily, and downsiderisks have increased again. The global expansionremains unbalanced. Growth in many advancedeconomies is still weak, considering the depth of the
recession. In addition, the mild slowdown observed inthe second quarter of 2011 is not reassuring. Growth inmost emerging and developing economies continuesto be strong. Overall, the global economy expandedatanannualizedrateof4.3%intheirstquarter,andforecasts for 201112 are broadly unchanged, withoffsetting changes across various economies. However,greater-than-anticipated weakness in U.S. activity andrenewedinancialvolatilityfromconcernsaboutthedepthofiscalchallengesintheeuroareaperipherypose greater downside risks. Risks also draw from
persistent iscal and inancial sector imbalances inmany advanced economies, while signs of overheatingare becoming increasingly apparent in many emergingand developing economies. Strong adjustmentscredible and balanced iscal consolidation andinancialsectorrepairandreforminmanyadvancedeconomies, and prompter macroeconomic policytightening and demand rebalancing in many emergingand developing economiesare critical for securinggrowth and job creation over the medium term.
INDIAOn the domestic front, a revised and rebased IIP suggests that earlier signals of a growth deceleration
in H2, FY12 were exaggerated. Data for April-May 2011 suggests that some moderation might be underway,relectinginpartalaggedresponsetothemonetarytighteningthathasbeeneffectedsinceOctober2009
The softening of commodity prices over the past three months did not translate into a decline in eitherheadlinewholesalepriceindex(WPI)inlationornon-foodmanufacturinginlation
GDP growth forecast retained at 8% for FY12
WPIinlationforMarch2012isrevisedupwardfrom6%to7%,onbackofa)anyshortfallinrainfallor
itspatterncouldposesigniicantriskstofoodinlation,b)crudeoilpricesinthenearfutureisuncertain,c)IftheGovernmentraisesadministeredfuelprices,theinlationimplicationsarestraightforward.IftheGovernmentabsorbsthisintheiscalaccounts,theresultantexpansionaryimpactwilladdtoinlationpressures.
ECONOMIC OVERVIEW
8/2/2019 Alok Result 30 Sept 2011
20/24
18 Celebrating 25 Years 1986-2011
THE TEXTILE INDUSTRY
Global Textile and Apparel Trade
The imports of textile and apparel products by US increasedfrom US$ 81 bn in 2009 to US$ 93 bn in 2010, growing by 15%.The imports have recovered from the economic slump in 2008-
09 and growing further.
EU imports of Textile and Apparel has increased in 2010 by6.6% from US$ 215 bn in 2009 to US$ 229 bn in 2010. Growthhas been slower than US imports primarily due to the prevailingeconomic downturn in major EU countries
Therisingpricesofcotton,resultinginsubsequentdificultyinremaining competitive in the global apparel market, has beenone of the major trends of 2010. While the prices have showna downward trend recently, the volatility in prices has becomean even bigger concerns
The unprecedented growth in cotton prices and the scarcity inits supply have started changing global equations in the textileand apparel market. There is increasing stress on substitutesand volume demand for polyester has started to increaserapidly.
Indian Textile Update
Indian Domestic Textile and Apparel Market Growth
Indias domestic textile and apparelmarket continued to grow in2010 on the back of ever increasing consumer demand. Domestic
textile and apparel market is estimated to be US$ 52 bn in 2010 andexpected to grow further to reach US$ 140 bn by 2020.
Indian Textile and Apparel Industry Export Growth
Along with the growth of global trade, India has emerged as one ofthe strongest textile and apparel production hubs in the past years.IndiasexportshavegrownataCAGRof11%inlast25yearstoreachUS$25bnin2010.Further,Indiasexportsareexpectedtogrow@
12% to reach US$ 80 bn by 2020.
Sources: Technopak, Ministry of Textiles (Govt of India)
Source: UN Comtrade, Ministry of Textiles
INDUSTRY OVERVIEW
8/2/2019 Alok Result 30 Sept 2011
21/24
19TMIntegrated Textile Solutions
Alok Industries Limited
Q1 FY12 Net Sales up by 49.68% to Rs. 1,644.89 crorePAT up by 24.21% to Rs. 57.77 crore
Editors Synopsis
For the Quarter ended June 30, 2011:Net Sales up by 49.68% at Rs. 1,644.89 crore
EBIDTA increased by 38.57% at Rs. 452.92 crore
PAT up by 24.21% at Rs. 57.77 crore
Mumbai, 29 July, 2011:
Alok Industries Limited, one of the leading integrated textile companies in India, today reported net sales ofRs. 1,644.89 crore for the quarter ended June 30, 2011, as compared to Rs. 1,098.97 crore in the correspondingperiodofthelastiscal,registeringagrowthof49.68%.
Export sales for the quarter ended June 30, 2011 stood at Rs. 602.19 crore, as against Rs. 435.85 crore in thesameperiodofthelastiscal,registeringagrowthof38.16%.
DuringtheJune11quarterthecompanysnetproitstoodatRs.57.77crore,higherby24.21%,ascomparedtoRs.46.51crorepostedinthesamequarteroflastiscalyear.
The EBIDTA for the quarter was at Rs. 452.92 crores as against Rs. 326.85 crores in the corresponding quarteroflastiscalyear,registeredagrowthof38.57%.
Earning per share (EPS) for June quarter stood at Rs. 0.73.
Dividend for Financial Year 2010-2011
Thecompanysboard,inameetingheldtoday,hasrecommendedadividendof2.5%,orRs.0.25pershare,ontheequitysharesofRs10eachfortheinancialyear201011.
Merger of Grabal Alok Impex Ltd with the company
The Board of Directors of the company have considered and approved the proposal for amalgamation ofGrabal Alok Impex Limited (GAIL) into the company as per the terms and conditions mentioned in theScheme of Amalgamation placed before the Board, subject to necessary approvals from the statutory andregulatory authorities.
The swap ratio as determined by M/s Ernst & Young Pvt Ltd., independent valuer and the fairness reportprovided by M/s Fortune Financials Services (India) Ltd. and as approved by the Board is 1 (One) fully paidequity share of Rs. 10/ each of the company to be issued and allotted for every 1 (One) fully paid equityshare of Rs. 10/ each held in GAIL.
GrabalAlokispromotedbyAlokIndustriesLimitedintechnicalandinancialcollaborationwithGrabalAlbertGrabher Gesellschaft m.b.H & Co., of Austria. The company is a manufacturer of all kinds of embroideredproducts having wide application in home textiles, apparel fabrics and garments.
25th AGM to be held on Thursday, September 29, 2011
TheboardhasalsoixedThursday,September29,2011asthedateforholdingthecompanysTwentyFifthAnnualGeneralMeeting.ThemeetingwillbeheldattheregisteredoficeofthecompanyatSilvassaat12.00Noon
Management Comment
Commenting on the results, Mr. Dilip Jiwrajka, Managing Director, Alok Industries Limited,said,Our
business performance was quite encouraging in Q1 FY 2012 and we were able to achieve satisfactory growth.We are glad to see the continued demand for our products, the widening of the business across product
PRESS RELEASE
8/2/2019 Alok Result 30 Sept 2011
22/24
20 Celebrating 25 Years 1986-2011
segments and geographies. We look forward to encash our real estate investments in subsidiaries, optimizeourexpandedcapacitiesandreducecost,whichwouldbeneitallstakeholders.
OntheschemeofamalgamationofGrabalAlokImpexLimitedwiththecompany,hesaid,Thiscorporateaction should bring about operational and inancial synergies besides enabling focused managementattentionthroughasingleuniiedTextileenterprise.
About Alok Industries Limited:
(BSE Code: 521070) (NSE Code: ALOKTEXT) (Reuters Code: ALOK.BO) (Bloomberg Code: ALOK@IN)
Established in 1986, Alok Industries Ltd. is amongst the fastest growing vertically integrated textiles solutionsprovider inIndia.Adiversiiedmanufacturerofworld-classhometextiles,apparelfabrics,garmentsandpolyester yarns, Alok has capacities of 82.50 mn meters of sheeting fabric and 6700 tons of terry towelsfor its home textiles business, 105.00 mn meters of apparel width woven fabrics, 18200 tons per annum ofknitted fabrics and 22 million pieces per annum of garments.
With the commencement of spinning of cotton yarn (58,500 tons per annum), Alok has achieved completeintegration. The company also has a strong presence in the polyester segment with a capacity of 1,14,000
tons per annum of polyester textured yarn supplemented by 2,00,000 tons per annum of POY. The companyhas a blue chip international customer base comprising of world renowned retailers, importers and brands.
For More Information Please Contact:
Mr.SunilO.KhandelwalChief Financial OfficerAlok Industries LtdTel: 022-2499 6241Email: [email protected]
Mr.SiddharthKumar/Mr.AnkurParikhAdfactors PR, MumbaiCell : 9833933447/9820092291siddharth.kumar@adfactorspr.comankur.parikhadfactorspr.com
PRESS RELEASE
8/2/2019 Alok Result 30 Sept 2011
23/24
Garments
"Alok is an 'end-to-end' provider of Integrated Textile Solutions, with five core
divisions: Cotton Yarn, Apparel Fabric, Home Textiles, Garments and Polyester Yarn
Alok's State of the Art Integrated Textile Facilities
Spinning
Processing
Knitting
Quilting Schiffli Embroidery
Madep-ups
Multi Head Embroidery
Weaving
Yarn Dyeing
Printing
Processing
8/2/2019 Alok Result 30 Sept 2011
24/24
WPPL