About Unquoted/Illiqied Shares of INDIA CARBON LIMITED
INDIA CARBON LIMITED was established in 1961 and was the first company to set up a calcination plant in Asia in Guwahati. Since its initial days, the company has had technical and financial collaborations with Oxbow Calcining LLC, USA. The company established its second calcination plant in Budge Budge, West Bengal in 1969.
The company’s primary business is to manufacture and supply Calcined Petroleum Coke (CPC), which is the purest form of Carbon, having 99.5% of carbon in it. Apart from CPC, the company also produces Electrode Carbon Paste (EPC) and Tamping Paste, which are used in Ferro Alloys & Allied industries, and in carbide production.
Some of the customers of India Carbon Limited in the aluminium industry are Hindalco, National Aluminium Company Limited (NALCO), Madras Aluminium Company Limited (MALCO), and Bharat Aluminium Company Limited (BALCO). The company also sell its products to the steel sector, and some of its prominent customers in are steel industry are the Steel Authority of India Limited (SAIL), Tata Iron and Steel Company Limited (TISCO) and Essar Steel.
Apart from the production of carbon products, the company is also in the space of Floriculture and has established Orchid Farms in Guwahati. The flowers are currently being sold in New Delhi, Mumbai, Bangalore, and Kolkata.
The equity shares of the company are listed on the Calcutta Stock Exchange of India.
INCORPORATION DETAILS
|
CIN |
L23101AS1961PLC001173 |
|
Registration Date |
12 June 1961 |
|
Category/Sub-category of the Company |
Company Limited by Shares |
|
Address of the Registered office |
Noonmati, Guwahati, Assam-781020 |
|
Name, Address and Contact Details of Registrar and Transfer Agent, if any |
C B Management Services (P) Limited P-22, Bondel Road, Kolkata-700019 Phone: 40116700/11/18/23, 2280-6692/93/94 Email: rta@cbmsl.com |
PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY
|
Name and Description of main products/services |
NIC Code of the product/service |
% to total turnover of the Company |
|
Calcined Petroleum Coke |
NA |
93.02% |
|
Electrode Carbon Paste |
NA |
5.96% |
|
Thermal Carbon(Tempering) Paste |
NA |
0.13% |
|
Desiccated Petroleum Coke Powder |
NA |
NA |
|
Raw Petroleum Coke |
19109 |
0.89% |
|
Others |
NA |
NA |
BOARD OF DIRECTORS
Mr Rakesh Himatsingka(Chairman and Managing Director)
Mr. Shaurya Veer Himatsingka(Deputy Managing Director & CEO)
Mr Gordon Kenneth Mcintosh
Mr Tony William Grims
Mr. Hemant Kumar Khaitan
Mr Manoj Mohanka
Mr. Soumendra Mohan Basu
Mr. Sunirmal Talukdar
Mrs Susmita Ghose
PARTICULARS OF SUBSIDIARY COMPANIES
|
Name of the Company |
% of shares held |
|
C & C Investment Limited |
99.99% |
SHAREHOLDING PATTERN (As of 31-03-2020)
|
S. No. |
Shareholders’ Name |
Number of shares |
% of total Shares of the company |
|
1 |
Shree Shyam Orchid Estates Limited (Promoter) |
6,99,970 |
26.41% |
|
2 |
RiddhimaSv Himatsingka (Promoter) |
92,860 |
3.50% |
|
3 |
Anita Himatsingka (Promoter) |
2,09,615 |
7.91% |
|
4 |
Shaurya Veer Himatsingka (Promoter) |
2,37,431 |
8.96% |
|
5 |
Other Promoters |
71912 |
2.72% |
|
6 |
Public Shareholding |
13,38,212 |
50.50% |
|
|
Total |
26,50,000 |
100.00% |
INDUSTRY OUTLOOK
Calcined Petroleum Coke (CPC) is used in the manufacturing of Graphite, as an Anode in Alumina Smelters, as Soderberg's Electrode for Ferroalloy Industries, as Thermal Paste for Ferro Alloys & allied industries in Submerged Arc Furnaces. It is also used for melting steel, and for making special steel and alloys.
Aluminium is the 2nd most used metal in the world after steel. Its consumption reached 65 million tonnes in 2020. India is the 4th largest producer of aluminium in the world. It produces around 5.3% of the global aluminium output. In FY 2020, the growth of primary consumption of aluminium fell by 2% from the growth of 3% in FY 2019. Excluding China, the whole world reported consumption degrowth of around 4% in FY 2020. In the Indian market, aluminium production fell by 2% in FY 2020, while domestic consumption declined by around 6 to 7%.
Primary aluminium exports from India surged almost 50% during the first quarter of FY 2021which helped domestic producers to tackle a sharp decline in domestic demand, in the wake of the COVID-19 pandemic in Q1FY 2021. However domestic demand returned with the easing of restrictions in Q2 and exports moderated. Exports grew by just 6.8% y-o-y in Q2 as compared to 50% growth in the June 2020 quarter. Share of export in total production also reached the pre-covid level of 56% in the month of December 2020 after peaking at 78% in April 2020.
The present requirement of CPC by the aluminium smelters is approximately 1.5Million Mts, and in addition, there is a substantial requirement by the Steel, Graphite Electrodes, Titanium dioxide, Ferro alloys and other miscellaneous Industries at around 0.5Million Mts, taking the total requirement to around 2.0Million Mt., which is in part met by imports of CPC, mainly from China.
PROFIT & LOSS STATEMENT OF INDIA CARBON LIMITED (In Rs. Lakhs)
|
Particulars |
3 Quarters of FY 2021 |
2020 |
2019 |
2018 |
|
Revenue from Operations |
13,913.48 |
20,619.90 |
47,165.01 |
34,295.25 |
|
EBITDA |
987.20 |
-5,448.02 |
17,637.64 |
9,775.03 |
|
EBITDA margins |
7.10% |
-26.42% |
37.40% |
28.50% |
|
Finance Cost |
62.91 |
118.83 |
143.88 |
320.00 |
|
Depreciation |
163.06 |
206.09 |
180.47 |
147.82 |
|
Other Income |
2,492.30 |
602.09 |
2,411.49 |
933.43 |
|
Profit before Exceptional items and Tax |
3,253.53 |
-5,170.85 |
19,724.78 |
10,240.65 |
|
Total Tax |
1,198.90 |
-1,524.55 |
4,353.50 |
2,309.39 |
|
Profit After Tax (PAT) |
2,054.63 |
-3,646.31 |
15,371.27 |
7,931.26 |
|
EPS |
77.53 |
-137.60 |
580.05 |
299.29 |
BALANCE SHEET OF INDIA CARBON LIMITED (In Rs. Lakhs)
|
PARTICULARS |
31st March 2020 |
31st March 2019 |
|
ASSETS |
||
|
NON CURRENT ASSETS |
||
|
Tangible assets |
1,577.51 |
1,499.55 |
|
Intangible assets |
9.05 |
11.33 |
|
Financial assets |
8,592.28 |
11,562.80 |
|
Other non-current assets |
42.37 |
42.94 |
|
Tax assets |
1,077.06 |
0.00 |
|
TOTAL NON-CURRENT ASSETS |
11,298.27 |
13,116.62 |
|
CURRENT ASSETS |
||
|
Inventories |
6,525.45 |
12,899.48 |
|
Financial assets |
3,239.29 |
2,507.81 |
|
Trade receivables |
2,928.25 |
2,377.61 |
|
Cash and cash equivalent |
3,201.82 |
3,789.36 |
|
Other current assets |
2,082.72 |
1,442.36 |
|
TOTAL CURRENT ASSETS |
17,977.54 |
23,016.62 |
|
TOTAL ASSETS |
29,275.81 |
36,133.23 |
|
EQUITY AND LIABILITIES |
||
|
EQUITY |
||
|
Equity Share Capital |
265.00 |
265.00 |
|
Other Equity |
24,148.16 |
29,515.57 |
|
TOTAL EQUITY |
24,413.16 |
29,780.57 |
|
LIABILITIES |
||
|
NON CURRENT LIABILITIES |
||
|
Borrowings |
0.00 |
4.73 |
|
Tax liabilities |
42.84 |
35.68 |
|
Provisions |
0.00 |
728.86 |
|
TOTAL NON-CURRENT LIABILITIES |
42.84 |
769.27 |
|
CURRENT LIABILITIES |
||
|
Borrowings |
1,001.39 |
1,498.23 |
|
Trade payables |
2,388.71 |
795.88 |
|
Other financial liabilities |
1,300.95 |
3,156.34 |
|
Other current liabilities |
60.35 |
51.64 |
|
Provisions |
19.02 |
17.09 |
|
Tax liabilities |
49.39 |
64.22 |
|
TOTAL CURRENT LIABILITIES |
4,819.80 |
5,583.39 |
|
TOTAL LIABILITIES |
4,862.64 |
6,352.66 |
|
TOTAL EQUITY AND LIABILITIES |
29,275.81 |
36,133.23 |
DIVIDEND HISTORY
|
Particulars |
2020 |
2019 |
2018 |
|
Dividend (final + interim) (In Rs.) |
Nil |
30 |
15 |
|
Retained Earnings(In Rs. Lakhs) |
19,908.54 |
24,513.26 |
9,621.21 |
PERFORMANCE OF THE COMPANY
In FY 2020, the production of Calcined Petroleum Coke (CPC) was 85,990MT and the production of Electrode Carbon Paste (ECP) was 4,811MT. Sales of CPC were 70,563 MT and sales of ECP were 4,520 MT.
Revenue from Operations of the company decreased by 56% from Rs. 47,165.01 lakhs in FY 2019 to Rs. 20,619.90 lakhs in FY 2020. In the first three quarters of FY 2021, the company earned operational revenue of Rs. 13,913.48 lakhs.
EBITDA of the company for FY 2020 was a loss of Rs. 5,448.02 lakhs, as against a profit of Rs. 17,637.64 lakhs in FY 2019. In the first three quarters of FY 2021, the EBITDA of the company stood at Rs. 987.20 lakhs.
Profit after Tax of the company changed from a net profit of Rs. 15,371.27 lakhs in FY 2019 to a net loss of Rs. 3,646.31 lakhs in FY 2020. In the first three quarters of FY 2021, the company earned a net profit of Rs. 2,054.63 lakhs.
The current Ratio of the company as of 31st March 2020 was 3.73.
The debt to Equity ratio of the company as of 31st March 2020 was 0.04. The company has not given any dividends for FY 2020. However, it is a dividend-giving company and gave a dividend of Rs. 30 per equity share for FY 2019.
The book value of the company as of 31st March 2020 was Rs. 921.25.
