EIH limited is a public company limited by shares, incorporated and domiciled in India. The company is primarily engaged in owning and managing premium luxury hotels and cruisers under the luxury “Oberoi” and “Trident” brands.
EIH ltd. is the flagship company of the Oberoi group, one of the largest and well-known hospitality groups in India. The company serves to both national and international markets. The company has 12 subsidiaries, of these three are domestic companies and the rest are overseas body corporates.
Total number of locations where business activity is undertaken by the Company are:
1. Number of International Locations – Five countries (through wholly owned subsidiary),
2. Nine directly owned hotels in India – (Delhi, Mumbai, Kolkata, Bengaluru, Udaipur and
3. Thirteen managed hotels in India.
M/s. Deloitte, Haskins & Sells LLP, Chartered Accountants, (“Deloitte”) has been appointed as the Statutory Auditors of the Company, in the year 2017, to hold office for 5 (five) consecutive years, subject to ratification by Shareholders in every Annual General Meeting.
J K Cement Ltd. company was founded by Late
Lala Kamlapat Singhania on 1974.
It is one of the largest cement manufacturer
in Northern India.
It is the second largest white cement
manufacturer and wall putty in India with an annual production of 600000 and
It was the first company to produce captive
power plant in the year 1987.
The company has a total revenue of 4758.17
crore as on 31st March 2018.
It has a capacity to produce 10.50 MNTPA of grey
cement,1.20 MNTPA of white cement and 0.7 MNTPA of wall putty.
BSE Code Of JK Ltd. :-532644
NSE Code Of JK Ltd. :- JKCEMENT
PLANTS AND SUBSIDIARIES :-
GREY CEMENT WORK PLANTS :-
3.25 Mn TPA
2.25 Mn TPA
3.00 Mn TPA
0.47 Mn TPA
WHITE CEMENT WORK AND WALL PUTTY :-
J K Cement Work
0.60 Mn TPA
*It has one more plant at Jharli , Jhajjhar
which has split grinding unit with a production capacity of 1.5 MnTPA.
PRODUCTS OFFERED :-
Ordinary Portland Cement (OPC)
Portland Pozzolana Cement (PPC)
Portland Slag Cement (PSC)
JK White Cement
JK Wall Putty
VALUE ADDED PRODUCTS :-
JK Super Grip
KEY PERSONNEL :-
Singhania &Mr.Madhavkrishna Singhania
Mr. A K Saraogi
Mr. Ashok Ghosh
FINANCIAL PERFORMANCE :-
(Rs. In Crore)
Net Revenue was increased by 9% from 4379.83
to 4758.17 crore and EBITDA was increased by 10% from 693.42 to 760.65. Net
Profit was increased by 62% from 210.78
to 341.87 crore. EPS was increased by 62% from Rs.30.14 to Rs.48.89.
One of the most trusted brand of
electrical goods providing best quality at affordable prices and frequently
comes up with new innovations.
Cables, motors, switchgears,
reactive power solutions, heavy duty fans, professional lighting.
Construction companies, dealers,
A quality power of powerful,
innovative, affordable and energy efficient electrical goods.
The company has a strong
distribution network (it has 7575 no. of dealers and 1702 dealers are added
to it this year).The company has a good
acquisition history, it has acquired some of the prestigious Indian brands
like of Standard Electrics, Crabtree, Promptech, and a latest acquisition of
Lloyd.It has a strong brand image.The company is awards by
various authorities like Shri Rajpal Singh Shekhawat, honourable minister of
Power dependent segments will
be affected with less or no power supply.Electric goods are majorly
required in infrastructure for example government’s construction activities,
any slowdown or delay in such activities will affect the company.
Focus of government on
electrification and commitment to improve infrastructure and housing, the use
of electrical goods is assured.Emerging middle class people
towards better standard of living, the company can expect growth in future.By having a wider base of
distribution network, company can introduce its products to new geographical
areas.GST is likely to be
implemented in 2017-18, with this the company hopes to leverage its brand
positioning and distribution network.
Segments like cables and switchgears are dependent on industrial and infrastructure capital expenditure, any delay would affect the segmental revenue growth.With the view of potential growth in electrical equipment industry, the number of players under the industry has increased; the increase in competition is likely to put pressure on existing players.Downfall in economy will affect its growth by being a cyclic company.
Reg Off: New No. 114, Greams Road, Chennai, Tamil Nadu, India
MANAGEMENT DISCUSSION AND
The year of 2016-17 started on a positive note with
normal monsoon, relatively low inflation and a modest budgetary support to
drive consumption growth. Expectation of higher Government spending on
infrastructure also indirectly increased growth expectation. However demonetisation
also impacted automobile industry and ultimately it was survived by trade and
customers in smaller markets. Impact of demonetisation was however substantially
recovered by the end January 2017.
Indian tyre industry grew by 3.6% and in value it is estimated to be Rs. 55,000
Cr. in 2016-17.Tyre industry is directly affected by automobile sector. It
majorly comprises of Commercial Vehicle segment consisting of Heavy, Light,
Small Commercial Vehicles (H/L/SVC). The next largest segment is Passenger Vehicle
consisting of Car, Sports Utility Vehicle (SUV), Motorcycle and Scooters.
Traditionally tyres are classified as Cross-ply (Bias)
and Radial based on technology deployed in their manufacture. In India, the
commercial tyre segment continues to be dominated by Cross-ply tyres due to
road condition, loading capacity and higher cost of Radial tyre.
industry consist of three distinct markets namely Replacement, Institutional/
Original Equipment Manufacturer (OEM) and Exports. By value, Replacement Market
accounts for approximately 60%, Institutional / OEM and Exports making up to
22% and 18% respectively. Of the total tyres produced in India, top 11 tyre
companies account for more than 90% of the volume.
industry provides direct and indirect employment of more than million people, comprising
of dealers re-traders and truck operators. This business, has historically
transacted in cash and will face more difficulties as moving in modern methods
for payments via NEFT, cheque etc. to reduce cash transaction.
Indian Automotive sector registered a reasonable growth of 10.6% in sales in
passenger Vehicle Industry. It is considered as positive sign even after
various adverse factors such as Demonetisation, ban on diesel car in NCR and changeover
in emission norms. There was huge demand noticed in Utility vehicles that
resulted significant growth in passenger car segment. Apart from domestic
sales, export sales also shown an increase of 16.2%.
company has now entered its fourth decade of leadership in Indian tyre Industry
and is also Fourteenth largest manufacturer worldwide. In past year there were
various economic factor, favourable and unfavourable and made the year rather
unpredictable. There were various unexpected economic reforms, changes in
political environment, uncertain global market including events such as BREXIT.
Growth of Indian tyre industry was also at moderate pace due to Impact of
demonetisation and subdue realisations. Besides of these, Indian economy
continued to be beacon of high growth among global market.
There was a positive impact on domestic industry on
Heavy Commercial Vehicle (HCV)/ Medium Commercial Vehicle (MCV) segment which
was due to non-availability of cheap Chinese tyres into country.
medium to long term duration, with the US International Trade Commission’s
favourable ruling in the case of Chinese Tyre imports into the US, it is
expected that Chinese exports to the US will revive and this will somewhat
bring down the imports of cheap tyres into India. With increase in Global
Natural Rubber prices, it can be said that prices of domestic tyre will be less
than that of imported tyre. Apart from international decisions, HCV and MCV
production boosted because of transition enforced by the Supreme Court Judgment
on BS-III and BS-IV transition. However the same judgment will have positive
impact on replacement segment later in the year.
Natural rubber is primary raw material for tyre industry.
It is totally dependent on environment factors rather than entirely importing from
foreign countries. With normal monsoon during the previous year, risk of
non-availability of natural rubber was however mitigated to some extent.
Segment wise and Product wise Performance
the financial year 2016-17 Company’s turnover of Rs. 14,743 Cr. as against Rs.
22,162 Cr. for the previous 18 months period ended 31st March 2016.
Across the board there was an overall increase in all segments adding up to a
10% increase in total tyre production. The same is analysed below:
over previous year
Heavy Commercial Vehicle
Light Commercial Vehicle
Passenger & Sports Utility Vehicle
The outlook for the domestic tyre industry looks
stable in the short to medium term due to favourable demand in both domestic
and export markets. The issue of raw material cost escalation especially of
natural rubber is there which will ultimately reduce the operational margins
for a while in near future.
Recently a report
shown lack of availability of natural rubber and forcing company to import the
same, it will cost to company Rs. 27 extra as compare to domestic price.
However with good monsoon and investments in
infrastructure segment will result increasing growth in GDP and will have
positive benefits for tyre industry. The positive indication shown by the
infrastructure and rural sectors in recent months will definitely have impact
on tyre industry, both in Original Equipment and Replacement markets.
On account to increase overall revenue to achieve target of around Rs. 20,0000-Rs. 22,000 Cr by 2020-21, company plans to invest Rs. 800-1,000 Cr. every year on its existing products in relation to Automation and Research & Development, and Brown Field Areas of Gujarat. Also commitment is already made to invest Rs. 4000 Cr in Gujarat for the same purpose
Strong Cash flows from operating activities coupled with
working capital optimization have improved the liquidity position of the
company during the year. A close competitor’s, Emami papers ltd., ratios also
stand in the same vicinity as the industry average with an exception of
defensive interval ratio which stands at 80 because of a higher cash component.
The following represents the detailed analysis:
CASH AND CASH EQUIVALENTS
As at April 1 ,2015
As at March 31st,2016
As at March 31st,2017
Cash on hand
As one can see, the cash and cash equivalents have increased
from 7.73 crores in 2016 to 15.51 crores in 2017 owing to an increase in the
current accounts which has shown a positive impact on the quick ratio, cash
ratio and defensive interval ratio.
BANK BALANCE OTHER THAN CASH AND CASH
As at April 1st ,2015
As at March 31st,2016
As at March 31st,2017
Fixed Deposit with
The company saw an increase in its bank balances from 6.91
crores in 2016 to 11.88 crores in 2017 because of fixed deposits with scheduled
banks including 1.48 crores pledged with government authorities. This has
affected the cash availability of the company further increasing the quick
ratio, cash ratio and defensive interval ratio.
As at April 1st,2015
As at March 31st,2016
As at March 31st,2017
The current investments segment has seen a major boost due to
an investment done by the company in liquid funds at the book value of 242
crores. This has impacted the current ratio and the marketable securities
aspect of quick ratio, cash ratio and defensive interval ratio.
Apart from the above, the current liabilities have not shown
any significant change.
EMAMI PAPERS LTD.
Debt to Equity
Debt to Assets
The company’s Debt to equity ratio strengthened from 1.72 to
1.28 with the borrowings decreasing from 1891.77 to 1697.70. The company also
saw an equity infusion from 1102.10 crores to 1321.52 crores owing to
conversion of FCCB Series 3 bonds. Also, an amount of 15.46 crores has been
considered other equity on request of an FCCB holder. Also, Emami paper’s debt
equity ratio stands at 2.37 due to an increase in the current maturities of
long term debt.
FINANCIAL LEVERAGE RATIO
As mentioned above, equity has increased to 1321.52 crores on
account of a conversion of FCCB Bonds to equity thereby increasing the
denominator of the financial leverage ratio. In contrast, average total assets
(numerator) have not seen a significant change resulting in an overall decrease
in the said ratio. Emami paper’s financial leverage is lower in comparison due
to huge amounts in equity as well as total assets.
INTEREST COVERAGE RATIO
The interest coverage ratio has increased from 1.40 to 2.09
as a result of an increase in EBIT from 273.94 crores to 392.90 crores and a
decrease in interest payments from 195.23 crores to 187.64 crores the details of
which are represented below. During the year Company has managed the interest
rate and currency exposures in an efficient manner with the optimum mix of
forwards, options and swaps.
Interest on others
Net (gain) or loss
on foreign currency transactions
The company (JK Paper Ltd.) selected to borrow 56 per cent of
its total debt mobilized to fund the expansion in foreign exchange (over the
conventional approach of mobilizing debt through rupees). Nearly 76 per cent of
the forex debt was mobilized in Euros. The total delivered debt cost was lower
than the prevailing Indian average. The company saved an aggregate Rs 260
crores in lower interest costs than if the debt had been mobilized in rupees.
ACTIVITY RATIOS :
JK PAPER LTD.
EMAMI PAPERS LTD.
RECEIVABLES TURNOVER RATIO AND AVERAGE
Better credit control measures have over the years reduced
the receivable resulted in reduction in number of day’s receivables from 18
days of previous year to 15 days in current year in spite of higher sales
volume. The company moderated receivables in quantum (5.4%) as a proportion of
the capital employed from 23.3% in 2012-13. Emami papers saw greater
receivables turnover on account of more sales and less receivables in
comparison to JK Paper, thereby increasing the average collection period as
WORKING CAPITAL TURNOVER RATIO
The ratio improved from -13.46 to -28.46 due to good
management of cost of working capital funds by using optimum utilization of
working capital limits in vendor financing, buyer’s credit facilities and
Export packing credit facilities. Working capital cost was 300 bps lower than
the prevailing market average.
PAYABLES TURNOVER RATIO AND PAYABLES
The change in payables turnover ratio arises out of the
change in average trade payables from 226.85 to 209.65. The payment period has
deteriorated from 56 days in the previous year to 51 days in the current year
which could be due to an increased foreign currency risks exposure.
CASH CONVERSION CYCLE
The cash conversion cycle has increased from 23 days to 28
days mainly on account of a decrease in the payables payment period and an
increase in the inventory processing period from 61 days to 64 days which
represents the increased time the inventory needs to convert into sales. Emami
paper has a greater cash conversion cycle mainly due to a higher inventory
processing period as well as a higher collection period in comparison to JK
PROFITABILITY RATIOS :
Net Profit Margin
Return on Assets
Return on Total
Return on Equity
NET PROFIT MARGIN
The net profit margin has increased from 2.37% in 2016 to
5.89% in 2017 owing to an increase in other incomes from 10.50 to 26.45, the
details of which are given below:
Profit on sale of
GROSS PROFIT MARGIN
The gross profit margin has increased to 23.63% in the
current year from 20.14% in the previous year mainly on account of a decrease
in cost of goods sold on the back of elimination of import duty. As for Emami
papers, the gross profit margin stands at 32.28% due to a higher cost of
RETURN ON EQUITY
Return on equity has increased owing to an increase in equity
due to FCCB Bond conversion and an increase in the net income as well.
Following is the detailed DuPont
Analysis of the same:
Return on equity
Return on Equity has increased on account of an increased tax
burden that saw a growth from 28.73% in the previous year to 52.24% in the
current year. The same is the case with Emami papers ltd. wherein the biggest
contributor to Return on Equity is the tax burden that stands at 178.55%.
Galaxy surfactant is a leading manufacturer of surfactant, chemical and home care products provide different chemical solution to various FMCG brands for making the home care products. Having multiple range of products solutions such as home care products, skin care, oral care, hair care toiletries and detergent products.
The company was incorporated on 24 Jan 1995. Currently Galaxy has 200 products grades which are marketed to more than 1000 customers in over 103 countries. Galaxy is Certified Preferred Supplier to Colgate, Star Status Supplier for Unilever, Strategic Mind Partner with Henkel, Green Channel Holder of Reckitt Benckiser.
BOARD OF DIRECTORS:
S. Ravindranath – Chairman
U. Shekhar – Managing Director
G. Ramakrishnan – Executive Director (Innovation)
Ravi Venkateswar – Executive Director (Finance)
Shashikant Shanbhag – Director
SUBSIDIARIES: Owns 5 Subsidiaries around the world
which are as follow:
Galaxy Chemicals Inc. (USA)
Galaxy Holdings (MAURITIUS)
Galaxy Chemicals (EGYPT)
Rainbow Holdings (GERMANY)
TRI-K Industries (USA)
PERSONAL CARE PRODUCTS
HOME CARE PRODUCTS
Galaxy Surfactants has 7 manufacturing plants, from which 5 are located in India (3 in Tarapur, 1 in Taloja Maharashtra and 1 in Jhagadia Gujarat). One plant is in Egypt (Suez) and another in USA (New Hampshire).
CHEMICALS PRODUCED BY PLANTS:
PRODUCTION MTPA(Million Tons PerAnnum)
New Hampshire USA
In fiscal year 2017-18 the company has earned 12.8% revenue. EBITDA is also increased by 5%. whereas, the net profit for the year increases by 6.75%. EPS for the financial year is increased by 7.03%.Share price of the company as on 19 March 2019 : NSE- 1133.00 Rs, BSE- 1127.0 Rs.
PVR Limited is a public limited
Company domiciled in India and incorporated under the provisions of the Indian
Companies Act and its equity shares are listed on the Bombay Stock Exchange
(BSE) and National Stock Exchange (NSE) in India. The Group is engaged in the
business of Movie exhibition, distribution & production and also earns
revenue from in-house advertisement, sale of food & beverages, gaming and
The company’s other
income includes Government Grants, Interest earned on bank deposits and NSC
investments. Interest income on financial assets is measured using Effective Interest Rate (EIR). It also included exchange differences, Profit on sale of Movie on demand (Vkaoo) platform and other non operating income.
The direct cost of the company includes movie exhibition, distribution
cost, consumption of food and beverages. The company recognises cost when
incurred and classify it accordingly.
Benefits Expense –
includes salaries, wages, allowances and bonus. It also comprises of post-employment
benefit plans in the form of Contribution to Provident Fund, Employee Stock
Option Scheme, Gratuity funds, compensated absences and staff welfare expenses.
Finance Cost includes
interest on borrowings from debentures, term loans, banks, other financial
charges and interest on finance lease obligation.
& Amortisation –
The company follows
Straight-line method for depreciating its items of property, plant and
equipment and amortise intangible assets over the useful life of the respective
asset. The estimated useful life of the assets are generally in line with the
useful lives. However, in case of few assets management estimates different
useful life to depreciate an asset where management believes that estimated
useful lives are realistic and reflect fair approximation of the period. 0>
Operating Expenses –
Other operating expenses
mainly includes rent, common area maintenance, electricity, legal and
professional fees, travel expenses, repairs and maintenance and other expenses.
Exceptional Item includes
loss incurred on sale of investment in PVR BluO Entertainment Limited and
business acquisitions related cost accounted as per Ind AS 103 ‘Business Combination’.
Per share –
The company presents
basic and diluted earning per share data for its ordinary shares. Basic EPS is
calculated by dividing the profit or loss attributable to ordinary shareholders
of the Company by the weighted average number of ordinary shares outstanding
during the period. Diluted EPS is determined by adjusting the profit or loss
attributable to ordinary shareholders and the weighted average number of
ordinary shares outstanding for the effects of all dilutive potential ordinary
shares unless the effect is anti-dilutive.
Tax Expense –
Income Tax Expense comprises of Current and Deferred Taxes.
Current income-tax is measured at amount expected to be paid to the tax
authorities in accordance with the Income-tax Act, 1961. Deferred Tax arises
due to differences in WDV block under Income Tax and Books of Accounts, carry
forward of losses and unabsorbed depreciation and adjustment on account of sale
Plant & Equipment –
PPE are stated at cost
less accumulated depreciation and
impairment losses. Borrowing cost relating to PPE which takes
substantial period of time to get ready for intended use is also capitalised.
Cost of PPE not ready for intended use as at the reporting date is disclosed as
Goodwill is initially measured at cost which is represented
by excess of consideration paid over the net assets acquired on business
combination. Goodwill is tested for impairment annually and is further carried
at cost less accumulated impairment losses, if any.
Intangible assets –
Other Intangible assets includes Software, Trademarks and
Copyrights and film right’s initially recognised at cost and subsequently carried
at cost less accumulated amortisation, if any. Further, any subsequent
expenditure is capitalised when it is probable that future economic benefit
flow to the enterprise.
accounted investees –
Comprises of investment
in joint ventures accounted for using the Equity method. They
are initially recognised at cost and subsequently includes the Group’s share of
profit or loss and OCI of equity-accounted investees.
and current investments consisting of Quoted equity shares valued at Fair Value
through Other Comprehensive Income because company intends to hold it for long
term and Unquoted Government securities valued at amortised cost in the form of
National Savings Certificate deposited with various state authorities
Includes government grant
receivable, revenue earned but not billed, security deposit, non-current bank
balances and interest accrued on fixed deposits and NSC’s recognised initially
at fair value, subsequently measured at amortised cost or FVTPL or FVTOCI
depending upon the conditions to be met for debt instrument.
Tax Assets –
Deferred Tax assets
includes MAT credit entitlement arising due to impact of expenditure charged to
statement of profit and loss but allowable for tax purposes on payment basis,
allowance for doubtful debts and advances.
non current assets –
Other non current assets
includes capital advances, prepaid expenses, deferred rent, advance income tax
and balances with statutory authorities.
The company values inventories at lower of cost and net realisable value, where cost for food and
beverages is determined on weighted average basis and cost of stores and spares
is determined on First in First Out (FIFO) basis.
Trade Receivables are derived from revenue earned from customers which
are unsecured. It also includes receivables from Debit/Credit card companies
and online movies ticketing partners which are realisable within a period of 1
to 3 working days. The company impairs its trade receivables on the basis of
past experience and trend.
The company has lent amount to employees and other body
corporate in the form of unsecured loan.
Share Capital –
The company has only one class
of Equity shares having a par value of Rs. 10 per share. Each holder of equity
shares is entitled to one vote per share. The company has also provided stock
options to its employees. The company’s authorised share capital also includes
0.001% non-cumulative convertible preference shares of Rs. 341.52 per share.
Other equity includes
securities premium, share option outstanding account on equity settled share
based payment transaction with employees, debenture redemption reserve, capital
reserve created under the scheme of business combination, general reserve and
Controlling Interest –
Are measured at their proportionate share of the
acquiree’s net identifiable assets at the date of acquisition. The non
controlling interest is contributed by Zea Maize Private Limited where the parent
holds 70 percent shareholding as on 31st March’ 18.
and borrowings are initially recognised at
fair value and subsequently measured at amortised cost using the
Effective interest rate method.
Includes provision for gratuity and leave benefits. The
provisions are determined based on best management estimate and are not
discounted to their present value.
Are recognised initially at their fair value and subsequently measured at
amortised cost using effective interest method.
Nilkamal is a plastic product manufacturing company based in Mumbai, India. It is the world’s largest manufacturer of moulded furniture and Asia’s largest processor of plastic moulded products. The company also has a chain of retail stores under the @home brand. Also, the company is listed on the NSE and BSE since 1991.
Years – Events
1985 – Nilkamal as a company, was
incorporated on 5th December
1990 – The company changed its name to
“Nilkamal Plastic” on 23rd August
NILKAMAL’S CORE BUSINESSES
– Material Handling Solution – Nilkamal Home Ideas, Home Furnishing Store
– Moulded Furniture – @home, the Mega Home Store Retail Chain
– Nilkamal Mattrezzz – Bubbleguard Solutions
Nilkamal has 25 branches spread across the country in India. Also, the
company has 8 large manufacturing plants in India spread across the country.
Nilkamal Ltd. has a joint venture in Sri Lanka with BITO Lagertechnik
Bittman GmbH which is Nilkamal Bito Storage Systems Pvt Ltd for manufacturing
of automated storage systems in metal.
Also, the company has a joint venture with CAMBRO, which is Cambro
Nilkamal Pvt Ltd for Hospitality products suited for large restaurants and
2017-18 has been an eventful year overall for the Indian economy with long awaited nationwide rollout of GST. Disruptions and anxiety due to perceptions, certain lack of clarity and overall adaptation of HSN based tax rates though affected the Business in 2nd/3rd quarter, have now been overcome and settled.
The Indian economy is poised to grow at a rate of 7.4% in 2018-19 as projected by IMF, after an estimated 7% growth in 2017-18.
Nilkamal Company’s leadership lies in the hands of following key persons –
Mr. Vamanrai Parekh – Cofounder, Promoter and Chairman of Board of Directors of Nilkamal Group
Mr. Sharad Parekh – Managing Director of Nilkamal Group
Mr. Hiten V Parekh – Promoter and Joint Managing Director of Nilkamal Group
Mr. Manish Parekh – President and Executive Director (Furniture) of Nilkamal Group
Mr. Nayan Parekh – President and Executive Director (Material Handling) of Nilkamal Group
KEY PERFORMANCE INDICATORS
(Rs in Crores)
Profit/Loss Before Tax
Total Tax Expenses
For The Period
Net revenue of the company has rose from Rs. 1968.66 crores to Rs. 2078.9 crores showing a growth rate of 5.59%. EBIT of company has also increased by a rate of 5.57% but EAT has decreased with a rate of 1.13%. Also EPS of the company’s shares has decreased from the last year as it was 79.38 last year and this year it has reached 78.48.
(Rs in Crores)
The capital in the company remains the same as last year and the company has proposed to transfer Rs. 782.25 crores to the reserves which is higher from last year by 14.66%. The total liabilities of the company has increased from last year and so has the assets of the company. Liabilities showed a growth of 13.85% while assets increased at a rate of 14.19%.
Total Share Capital
Reserves and Surplus
Total Non-Current Liabilities
Total Current Liabilities
Capital And Liabilities
Total Non-Current Assets
Total Current Assets
CASH FLOW STATEMENT
(Rs in Crores)
Profit/Loss Before Extraordinary Items And Tax
Net Cashflow From Operating Activities
Net Cash Used In Investing Activities
Net Cash Used From Financing Activities
Inc/Dec In Cash And Cash Equivalents
Cash And Cash Equivalents at the Beginning of Year
Cash And Cash Equivalents at the End Of Year
In the beginning of the year, company had Rs. 5.23 crores of liquid assets with them which had increased over the year and reached to Rs. 9.21 crores at the end of the financial year 2017-18. Total increase in cash and cash equivalents from the last year is 76% approx. Also, company has generated Rs. 110.9 crores from operating activities and used Rs. 86.56 crores in investing and Rs. 20.36 crores in Financing activities respectively at the end of FY 2017-18.
Eicher Motors Limited CIN No.: L34102DL198PLC129877 Regd. Office: 3rd floor, Select Citywalk A-3, District Centre, Saket, New Delhi- 110017 Phone No.: +91-124-7102900 Email: firstname.lastname@example.org
Name of the Company: Eicher Motors Limited Listed on BSE and NSE NSE Code: EICHERMOT BSE Code: 505200 Market Cap: INR 74,492.67 Cr. Revenue: INR 7939.45 Cr. Profit: INR 1664.65 Cr. Current Market Price on NSE: INR 27328.15 Current Market Price on BSE: INR 27350.10 Website:www.eicher.in
Eicher Motors Limited(EML) is the flagship company of the Eicher group. EML is the leading player in the Indian Automotive space. It operates in 3 distinct business verticals- Motorcycles, Commercial Vehicles and Personal Utility Vehicles.EML owns the iconic Royal Enfieldmotorcycle business, which leads the premium motorcycle segment in India. The oldest motorcycle brand in continuousproduction world-wide, Royal Enfield has witnessed a huge surge in demand in the recent past and is charting its courseto be the leading player in the mid-sized motorcycle segment globally. EML’s joint venture with the Volvo group, VE Commercial Vehicles Limited, designs, manufactures and markets reliable, fuel efficient trucks and buses; and is leadingthe path in driving modernization in commercial transportation in India and other developing markets. EML’s 50:50 strategic jointventure with USA-based Polaris Industries Inc. formed in 2012, Eicher Polaris Private Limited launched the Multix, a new3-in-1 vehicle purpose built for the independent businessman in June, 2015.
A division of EML, Royal
Enfield has created the mid-size motorcycle segment in India. Royal Enfield’s
product line-up includes
Further in 2012 Royal Enfield launched Royal Enfield Gears.
In January 2018, Royal Enfield has setup its First Royal Enfield Garage Café in Goa. The Garage Cafe is a massive 120-seater cafe and also has a Royal Enfield motorcycle museum-and-exhibition area, an exclusive gear store, a motorcycle customization area and a service bay.
VE Commercial Vehicles Ltd. JV of EML and Volvo group deals in complete
range of commercial vehicles which include
Eicher Light to Medium Duty Trucks (5-15 tonne)
Eicher Heavy Duty Trucks (16 tonne +)
Volvo Trucks including Mining and Tunnel Trippers
Euro-6 compliant enginemanufactured in VE Powertrain, the
first engine plant in India producing Euro-6 compliant engine.
Strategic supplier of drive line components and aggregates to
Escorts, Mahindra, Voltas, Royal Enfield etc.
In 2012 EML signed a strategic JV agreement with Polaris Industries Inc. to design, manufacture and sell full new range of personal vehicle. In 2013, the JV company Eicher Polaris Private Limited set-up its manufacturing facility in Jaipur, Rajasthan. Its first vehicle was launched in 2015 named “MULTIX” which was India’s first personal utility vehicle which can be used as people carrier, cargo carrier and power generator.
Royal Enfield has 3 manufacturing plants in Chennai having
total capacity of 8,25,000 units in F.Y. 2017-18 which will be 9,00,000 units
in F.Y. 2018-19.
It has 2 Technology centres in Chennai and UK.
Presently total dealers in India are 761. They are planning
to increase No. of dealers to 825 by March 2018.
It has 35 exclusive stores overseas.
In Pithampur it has
Commercial Vehicle Manufacturing
Plant having capacity of 84,000 trucks and buses, and scalable up to 1,00,000
trucks and buses
VE Powertrain Facility
having current capacity of 50,000 engines, scalable up to 1,00,000 engines and
it has already started supplying Euro-6 compliant engine to Europe over 3,000 per
Eicher Engineering Component has production facilities at
Thane, Dewas and SEZ, Pithampur for components and aggregates for VECV,
Escorts, Mahindra, Royal Enfield etc.
In Baggad, MP it has bus body plant.
No. of dealers are 299 including 15 Company Owned Company
Operated (COCO) outlets.
It has 22 distributors, 161 Eicher Genuine Parts Shoppe and
2,283 multi-brand parts retailers
It has 224 GPS enabled Vans and 29 Container Set up Sites.
In 10 Months of F.Y. 2017-18 export of Commercial Vehicle is
Eicher Polaris Private Ltd
It has manufacturing facility at Jaipur having capacity of
60,000 units per annum and which can be expanded up to 1,20,000 units equipped
with robotic weld lines and in-house paint system.
It has 97 domestic stores and it is focusing on nearby
International markets such as Nepal, Bangladesh and Sri Lanka.
Employee Details (As of December 2017)
Eicher Motors Limited
2910 (excluding outsourced)
VE Commercial Vehicles Limited
Eicher Polaris Private Limited
Commercial Vehicles Limited
Polaris Private Limited
Michael D. Dougherty
Managing Director & CEO
Managing Director & CEO
CEO & Whole Time Director
Eicher Nominated Director
Eicher Nominated Director
Volvo Nominated Director
Eicher Nominated Director
Volvo Nominated Director
Eicher Nominated Director
Eicher Nominated Director
Michael Todd Speetzen
Polaris Nominated Director
List of Subsidiaries
Name of Subsidiary
VE Commercial Vehicles Ltd (VECV)
VECV Lanka (Private) Ltd
VECV South Africa (PTY) Ltd
Royal Enfield BrasilComercio de
Royal Enfield North America Limited
Royal Enfield Canada Limited
Eicher Group Foundation (Sec. 8
Eicher Polaris Private Limited
Eicher launched first ever Skyline Pro Electric buses in
collaboration with KPIT’s Revolvo Technology.
In January 2018, Royal Enfield has setup
its First Royal Enfield Garage Café in Goa. The Garage Cafe is a massive
120-seater cafe and also has a Royal Enfield motorcycle museum-and-exhibition
area, an exclusive gear store, a motorcycle customization area and a service
In April, 2017, Royal
Enfield had opened a direct distribution subsidiary in Brazil, as well as its
first exclusive store in Sao Paulo.
Royal Enfield will be launching the twin-cylinder new motorcycles
Interceptor 650 and Continental GT 650cc in India in the summer of 2018.
Royal Enfield, a division of Eicher
Motors, has started commercial production from its new manufacturing facility
at Vallam Vadagal near Chennai. This plant will be Royal Enfield’s third
Eicher announced its new range of light and medium (LMD)
trucks in Indian market to meet the rapid transportation demand of the
e-commerce industry. The company introduced 5 new variants in the Pro 1000
andPro 3000 series.
VE Commercial Vehicle
(VECV) holds 100% equity in Eicher Engineering Solutions Inc., USA (EESI). EESI
holds 100% equity in Eicher Engineering Solutions (Shanghai) Co. Ltd. and
Eicher Engineering Solutions (Beijing) Co. Ltd. On March 17, 2017, VECV has disinvested
100% holding in EESI for $1.85 million. Accordingly, EESI and its wholly owned
subsidiaries of Shanghai and Beijing have ceased to be subsidiaries of VECV,
and in turn, have also ceased to be subsidiaries of Eicher Motors Limited.
The Indian Media and Entertainment (M&E) industry is a sunrise sector for the economy and is making high growth strides. Proving its resilience to the world, the Indian M&E industry is on the cusp of a strong phase of growth. The entertainment industry continues to be dominated by the television segment, with the segment accounting for 44.24 per cent of revenue share in 2016, which is expected to grow further to 48.18 per cent by 2021.
Balajitelefilms limited is a leading content provider in the Indian entertainment industry and has been in business since 23 years. It has its business diversified in television industry, motion pictures and digital media. The company occupies a dominant space in the television content creation space, with the No.1 show on Indian television to its credit and all of its shows among the Top 50 on television. Currently its producer of several leading serials on major channels like Star Plus, 9X, Sony TV, Zee TV and SUN TV network.
Competitive Forces and Balaji
Threat of new entrants:
Television content production is a capital intensive business and requires reasonably high capital investment. There are also many regulatory requirement related to the content produced. Balaji telefilms limited already has around 250+ hour of premium original and exclusive content. Also, production and distribution of motion pictures too need high investment. Making the barriers to enter production and distribution channel very high.
Threat of substitute:
In the current scenario there is threat to television shows from the digital media, younger generation shifting to online series rather than television shows. Making the threat of substitute high, althoughBalaji telefilms limited has diversified in digital media and launched ALTbalaji, the subscription based entertainment platform with six new shows and planning to add new shows every month, in order to mitigate the threat.
Bargaining power of buyers:
Balaji Telefilms limited sells it content to different broadcasters namely star TV, ZEE and Viacom. Since it is able to command higher TRP, hence, bargaining higher margin from broadcasters compared to its peers. Although due to some tie ups with certain broadcaster it has to sell and air its content on prime slot to that specific broadcaster. Therefore, making the bargaining power of buyers moderate.
Bargaining power of seller:
The suppliers in this case are the actors. Balaji Telefilms, being the largest entertainment software provider, evinces a lot of interest from aspiring actors who are eager to work with it. Thus the bargaining power of the aspiring actors is very low. However, once these aspirants become household names their demands increase resulting in higher salary costs to the company. Hence, the bargaining power is moderate.
Rivalry between existing players:
The rivalry between production houses is high and they try to poach each other’s actors, creative personnel and technicians. Since, Balaji telefilms is at leader’s position it easily attracts new talent and retention of current buyers and suppliers is easy. Further, they plan to earn the Intellectual Property (IP) rights of all the content that they create as to own it. By this making the rivalry forces low.