RED HERRING PROSPECTUS Dated August 24 ... - Globus Spirits
RED HERRING PROSPECTUS Dated August 24 ... - Globus Spirits RED HERRING PROSPECTUS Dated August 24 ... - Globus Spirits
c. In Rajasthan the Cl sales are through Rajasthan Govt the debtors increased there by Rs 215.44 lacs. ii. Sundry Liabilities: a. The primary increase is due to provision for taxes in FY 2007-08 which increased by Rs 262.49 Lacs. b. Creditors for packing materials increased during the year as bottled liquor increased from 42.11 lac cases in FY 2006-07 to 53.57 lac cases in FY 2007-08 increasing packing material creditors by Rs 399.77 lacs. c. Industrial Alcohol production in Behror increased by 9.41% resulting increase in Raw Material creditors for Grain by Rs 164.52 lacs d. Creditors for Franchise Bottling Brand started from the FY 2007-08 was Rs 301.75 lacs payable out of Royalty etc to BDA The reasons for increase in Sundry Debtors & current Liabilities during the year ending 31 st March, 2009 as compared to the previous year ended 31 st March, 2008 are as follows: i. Sundry Debtors: a. Gross Sales revenue during the year 2008-09 grew to Rs. 28140.17 lakhs from Rs. 23526.01 lakhs during the year 2007-08 i.e. by 19.61%. The increase in Sundry Debtors is proportionate to increase in sales. ii. Sundry Liabilities: a. Retention money for Contractors and Security Deposit increased from Rs. 58.48 lakhs in 2007-08 to Rs. 284.06 lakhs in 2008-09 b. As Samalkha factory was also converted fully to grain, thus raw material used in Samalkha became primarily grain on which credit increased by Rs. 184 lakhs unlike previous year when mollases was purchased on cash Statement Of Profit & Losses As Restated Rs. in Lacs Particulars For the Year/Period Ended 31-Mar-05 31-Mar-06 31-Mar-07 31-Mar-08 31-Mar-09 30-Jun-09 INCOME Turnover: Sales 6,795.65 8,683.41 11,666.70 23,526.01 28,140.17 9,234.95 Gross Sale 6,795.65 8,683.41 11,666.70 23,526.01 28,140.17 9,234.95 Less: Excise Duty Consumed (Note- 1) - - 467.17 7,833.64 8,426.87 2,924.11 Net Sales (i) 6,795.65 8,683.41 11,199.53 15,692.37 19,713.30 6,310.84 Other Income 14.75 16.61 49.21 276.36 266.12 72.97 Sub-Total (ii) 14.75 16.61 49.21 276.36 266.12 72.97 Increase (Decrease) in Inventories 212.56 (62.47) 123.50 188.73 215.98 100.10 TOTAL INCOME (A) 7,022.96 8,637.55 11,372.24 16,157.46 20,195.40 6,483.91 EXPENDITURE Raw Material & Packing Material Consumed 4,316.38 5,593.92 7,167.89 9,844.45 12,633.37 3,937.06 Staff Costs 86.20 138.58 201.65 257.99 310.46 100.31 7
Particulars For the Year/Period Ended 31-Mar-05 31-Mar-06 31-Mar-07 31-Mar-08 31-Mar-09 30-Jun-09 Manufacturing Expenses 999.77 1,539.71 2,005.28 2,327.18 3,021.17 820.48 Administrative & Selling Expenses (Note-2) 1,413.12 499.90 423.34 1,256.74 1,349.03 592.05 Interest & Financial Charges 20.24 40.29 53.29 106.40 296.22 57.61 Depreciation 118.71 205.37 273.83 394.69 573.48 169.34 Preliminary/Deferred revenue Expenses Written Off 0.57 0.22 22.30 17.87 17.88 4.43 TOTAL EXPENDITURE (B) 6,954.99 8,017.99 10,147.58 14,205.32 18,201.61 5,681.28 Net Profit before tax and Extra-ordinary Items (A-B) Add: Income Tax Refund / MAT credit entitlement 67.97 619.56 1,224.66 1,952.14 1,993.79 802.63 - - 29.99 - - - Less: Provision for Current Tax 3.74 51.90 220.00 504.49 382.70 125.00 Provision for Deferred Tax Income Tax/Exp. for Earlier Year/FBT Net Profit After Tax and Extra-Ordinary items 39.65 41.01 165.55 177.40 312.38 - 0.64 2.77 3.58 6.09 5.56 - 23.94 523.88 865.52 1,264.16 1,293.15 677.63 Note-1 – Excise Duty was not the liability of the Company till the year 2005-06 rather it was being paid by the purchaser directly to the Govt. Since 2006-07 the liability for payment of excise duty was imposed on the company and further during 2007-08 & 2008-09 the company also started IMFL production. Note-2 – During the year 2003-04 and 2004-05 the Administrative and Selling expenses was higher as it includes the amount paid as royalty for bottling under franchise agreement with TDV (a UB Group co.). No such tie-up was there in the year 2005-06 and 2006-07. Again the co. has entered into bottling tie-up agreement with BDA Pvt. Ltd. for bottling their product during the year 2007-08, 2008-09 & 2009-10 resulting in higher Administrative & Selling expenses. 8
- Page 1 and 2: RED HERRING PROSPECTUS Please read
- Page 3 and 4: TABLE OF CONTENTS SECTION TITLE PAG
- Page 5 and 6: Chatrath & Co., Chartered Accountan
- Page 7 and 8: Margin Amount Memorandum of Associa
- Page 9 and 10: Company/Industry Related Terms/Tech
- Page 11 and 12: NRE Account Non Resident External A
- Page 13 and 14: • Company’s ability to successf
- Page 15 and 16: The Company constantly endeavours t
- Page 17 and 18: The Company has reported a net nega
- Page 19 and 20: the Excise and liquor sourcing poli
- Page 21 and 22: Writ Petitions related to notificat
- Page 23 and 24: Northern India Alcohol Sales Pvt. L
- Page 25 and 26: 8. Dependence on agri products Mana
- Page 27 and 28: l. In addition to the BRLMs, the Co
- Page 29 and 30: enforced prohibition in 1996, but h
- Page 31 and 32: THE ISSUE Equity Shares offered: Fr
- Page 33: Particulars As on 31.03.2005 31.03.
- Page 37 and 38: BOARD OF DIRECTORS Name of the Dire
- Page 39 and 40: Jawahar Vyapar Bhawan, 14th Floor 1
- Page 41 and 42: STATEMENT OF INTER SE ALLOCATION OF
- Page 43 and 44: The grading is however, constrained
- Page 45 and 46: Industry Outlook & Prospects The do
- Page 47 and 48: on a proportionate basis. For furth
- Page 49 and 50: CAPITAL STRUCTURE OF THE COMPANY Sh
- Page 51 and 52: others # 17.4.1995 $ 2,11,640 10 47
- Page 53 and 54: 1.11.1994 Acquisition 18,75,000 10
- Page 55 and 56: Category Code Category of Sharehold
- Page 57 and 58: 8. Mr. Ashok Kumar 33 0.0003 9. Mr.
- Page 59 and 60: OBJECTS OF THE ISSUE The Company pr
- Page 61 and 62: In case of variations in the actual
- Page 63 and 64: 1. Plant and Machinery for 35 KLPD
- Page 65 and 66: Taxes & Duties 127.00 Total 918.00
- Page 67 and 68: Franchise Fees - - - 4.00 Bond Fees
- Page 69 and 70: Mass Media options: • Hoardings 3
- Page 71 and 72: Alcobrew has vide its letter dated
- Page 73 and 74: K GENERAL CORPORATE PURPOSES: The l
- Page 75 and 76: FUNDS DEPLOYED As per the certifica
- Page 77 and 78: Terms of Payment Margin Amount empl
- Page 79 and 80: BASIS FOR ISSUE PRICE The Issue Pri
- Page 81 and 82: Note: The average return on net wor
- Page 83 and 84: STATEMENT OF TAX BENEFITS TAX BENEF
c. In Rajasthan the Cl sales are through Rajasthan Govt the debtors increased there<br />
by Rs 215.44 lacs.<br />
ii.<br />
Sundry Liabilities:<br />
a. The primary increase is due to provision for taxes in FY 2007-08 which increased by Rs<br />
262.49 Lacs.<br />
b. Creditors for packing materials increased during the year as bottled liquor increased<br />
from 42.11 lac cases in FY 2006-07 to 53.57 lac cases in FY 2007-08 increasing<br />
packing material creditors by Rs 399.77 lacs.<br />
c. Industrial Alcohol production in Behror increased by 9.41% resulting increase in Raw<br />
Material creditors for Grain by Rs 164.52 lacs<br />
d. Creditors for Franchise Bottling Brand started from the FY 2007-08 was Rs 301.75 lacs<br />
payable out of Royalty etc to BDA<br />
The reasons for increase in Sundry Debtors & current Liabilities during the year ending 31 st<br />
March, 2009 as compared to the previous year ended 31 st March, 2008 are as follows:<br />
i. Sundry Debtors:<br />
a. Gross Sales revenue during the year 2008-09 grew to Rs. 28140.17 lakhs from Rs.<br />
23526.01 lakhs during the year 2007-08 i.e. by 19.61%. The increase in Sundry<br />
Debtors is proportionate to increase in sales.<br />
ii.<br />
Sundry Liabilities:<br />
a. Retention money for Contractors and Security Deposit increased from Rs. 58.48 lakhs<br />
in 2007-08 to Rs. 284.06 lakhs in 2008-09<br />
b. As Samalkha factory was also converted fully to grain, thus raw material used in<br />
Samalkha became primarily grain on which credit increased by Rs. 184 lakhs unlike<br />
previous year when mollases was purchased on cash<br />
Statement Of Profit & Losses As Restated<br />
Rs. in Lacs<br />
Particulars<br />
For the Year/Period Ended<br />
31-Mar-05 31-Mar-06 31-Mar-07 31-Mar-08 31-Mar-09 30-Jun-09<br />
INCOME<br />
Turnover:<br />
Sales 6,795.65 8,683.41 11,666.70 23,526.01 28,140.17 9,234.95<br />
Gross Sale 6,795.65 8,683.41 11,666.70 23,526.01 28,140.17 9,234.95<br />
Less:<br />
Excise Duty Consumed (Note-<br />
1)<br />
- - 467.17 7,833.64 8,426.87 2,9<strong>24</strong>.11<br />
Net Sales (i) 6,795.65 8,683.41 11,199.53 15,692.37 19,713.30 6,310.84<br />
Other Income 14.75 16.61 49.21 276.36 266.12 72.97<br />
Sub-Total (ii) 14.75 16.61 49.21 276.36 266.12 72.97<br />
Increase (Decrease) in<br />
Inventories<br />
212.56 (62.47) 123.50 188.73 215.98 100.10<br />
TOTAL INCOME (A) 7,022.96 8,637.55 11,372.<strong>24</strong> 16,157.46 20,195.40 6,483.91<br />
EXPENDITURE<br />
Raw Material & Packing<br />
Material Consumed<br />
4,316.38 5,593.92 7,167.89 9,844.45 12,633.37 3,937.06<br />
Staff Costs 86.20 138.58 201.65 257.99 310.46 100.31<br />
7
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