Adhunik Metaliks Ltd


BSE: 532727 | NSE: ADHUNIK | ISIN: INE400H01019 
Market Cap: [Rs.Cr.] 332 | Face Value: [Rs.] 10
Industry: Steel - Medium / Small

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Board Meet

15-May-13 
Quarterly Results Adhunik Metaliks Ltd has informed BSE that: 'This has reference to our proposed Board meeting on May 15, 2013 for adoption of the auditors5 reviewed standalone and consolidated financial statements for the third quarter ended on March 31, 2013. We would wish to share that M/s. Adhunik Power & Natural Resources Limited (APNRL) is a step-down subsidiary of our listed Company, M/s. Adhunik Metaliks Limited (AML). Since APNRL has commissioned first of its two units of 270 MW each, on January 21, 2013 only, involving substantial capital outlay, we have to undertake the job of capitalization of the said unit along with preparation of income statement capturing the operational performance for the period from January 21, 2013 to March 31, 2013 in the financial statements. APNRL is a major company, considering its capital employed as also its profitability. However, the accounts are still in the process of being prepared and audited because of the work as aforesaid. In addition to the above, there has been a change of auditors for APNRL, which change has been concluded on 4th May, 2013. Since the new auditors have not got reasonable time to express their opinion on the APNRL accounts which accounts have still not been finalized,, they would wish to be given some more time to conclude their work.'. (As Per BSE Announcement Dated on 15.05.2013) (Cancelled) (As Per BSE Bulletin Dated on 15.05.2013) 
09-Feb-13 
Quarterly Results 
03-Dec-12 
Adhunik Metaliks Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 03, 2012, has approved shifting of the Registered Office of the Company from the State of West Bengal to the State of Odisha, subject to approval of the members of the Company by way of Postal Ballot and subject to confirmation by the Regional Director (Eastern Region)/Ministry of Corporate Affairs. 
14-Nov-12 
Quarterly Results (Revised) (As Per Bulletin Dated on 12.11.2012) 
29-Aug-12 
Dividend & Audited Results Fifteen Months ended 30th June, 2012 With reference to earlier announcement dated August 03, 2012 regarding Board Meeting on Aug 14, 2012, Adhunik Metaliks Ltd has now informed BSE that the Board meeting of the Company scheduled to be held on August 14, 2012 stands postponed and the meeting will now be held on August 29, 2012. (As Per BSE Announcement Dated on 13.08.2012) Adhunik Metaliks Ltd.inter alia, has discussed and approved the following: 1.The Board considered amendment/insertion of two clauses in the main object clause of the Memorandum of Association of the Company,subject to approval of the members of the Company through Postal Ballot. 2.In accordance with recommendation of the Compensation Committee,the Board considered implementation of ESOP Scheme,subject to approval of the members of the Company through Postal Ballot. 3.In accrdance with recommendation of the Compensation Committee,the Board also considered payment of remuneration to the Managing Director of the Company in terms of Shareholders approval dated September 11,2009 even in the case of absence or inadequacy of profit of the Company as minimum remuneration,subject to approval of the members of the Company through Postal Ballot and also subject to approval of Central Government. 4. Due to inadequate profit in the Company for the extended financial year and accounting period ended June 30,2012 no dividend has been recommended. (As Per Bulletin Dated on 30.08.2012) 

AGM

09-Nov-12
AGM 09.11.2012 Adhunik Metaliks Ltd has informed BSE that the 11th Annual General Meeting (AGM) of the Company was held on November 09, 2012. (As per BSE Announcement Dated on 09.11.2012) Adhunik Metaliks Ltd has submitted to BSE a copy of Minutes of the 11th Annual General Meeting (AGM) of the Company held on November 09, 2012. (As per BSE Announcement Dated on 20.11.2012)  
15-Sep-11
AGM 15/09/2011 Adhunik Metaliks Ltd has informed BSE that the members at the 10th Annual General Meeting (AGM) of the Company held on September 15, 2011, inter alia, have approved the following: 1. Considered and adopted the audited Balance Sheet for the year ended March 31, 2011, the Profit & Loss Account as or that date, Cash Flow Statement for the year ended on that date and the reports of Auditors and Directors thereon. 2. Declaration of dividend at the rate of Rs. 1.50/- [i.e. 15%) per equity share of Rs. 10/- each. 3. Re-appointment of Mr. Ghanshyam Das Agarwal as Director of the Company. 4. Re-appointment of Mr. Mohan Lal Agarwal as Director of the Company. 5. Re-appointment of Mr. LaIit Mohan Chatterjee as Director of the Company. 6. Re-appointment of Mr. Nihar Ranjan Hota as Director of the Company. 7. Appointment of M/s. S. R. Batliboi & Co., Chartered Accountants as Auditors of the Company to hold office until the conclusion of next Annual General Meeting, 8. Appointment of Mr. Raghaw Sharan Pandey as Director of the Company. 9. Payment of sitting fees by the Subsidiary Company/ies for attending the meetings of the Board and/or Committee(s) thereof. (As Per BSE Announcement Website dated on 16.09.2011) 
10-Sep-10
Adhunik Metaliks Limited has informed the Exchange that the Register of Members and Share Transfer Books of the Company will remain closed from August 28, 2010 to September 10, 2010 (both days inclusive) for the purpose of payment of dividend. The Annual General Meeting of the Company will be held on September 10, 2010. Adhunik Metaliks Ltd has informed BSE that the members at the 9th Annual General Meeting (AGM) of the Company held on September 10, 2010, inter alia, have approved the following: 1. Considered and adopted the audited Profit & Loss Account for the financial year ended March 31, 2010, the Balance Sheet as on that date and the reports of Auditors and Directors thereon. 2. Declaration of dividend @ Rs. 1.25p. (12.5%) per equity share of Rs. 10/- each. 3. Re-appointment of Mr. Jugal Kishore Agarwal, Mr. Nirmal Kumar Agarwal, Mr. Mahesh Kumar Agarwal & Dr. Ramgopal Agarwala as Directors of the Company. 4. Appointment of M/s. S R Batliboi & Co, Chartered Accountants as Auditors of the Company to hold office until the conclusion of next Annual General Meeting. (As Per BSE Announcement Dated on 15.09.2010) Adhunik Metaliks Ltd has submitted to BSE a copy of minutes of 9th Annual General Meeting (AGM) of the Company held on September 10, 2010. (As Per BSE Announcement Dated on 21.09.2010) 
11-Sep-09
AGM 11/09/2009 Adhunik Metaliks Ltd has informed BSE that the members at the Annual General Meeting (AGM) of the Company held on September 11, 2009, inter alia, have accorded to the following: 1. Adoption of the Balance Sheet for the financial year ended March 31, 2009 and the Profit & Loss account ended on that date along with the report of the Auditors and Directors thereon. 2. Declaration of dividend at the rate of 10% i.e. Re. 1/-per equity shares of the Company for the year ended March 31, 2009. 3. Appointment of Shri. Ghanshyamdas Agarwal, Shri. Mohanlal Agarwal, Shri. Lalit Mohan Chatterjee & Shri. Nihar Ranjan Hota as Directors of the Company, liable to retire by rotation. 4. Appointment of M/s. S R Batliboi & Co., Chartered Accountants, as Auditors of the Company to hold office from the conclusion of this meeting until the conclusion of the next Annual General Meeting on remuneration, terms and conditions. 5. Appointment of Mr. Nandanandan Mishra, Mr. Makhan Lal Majumdar & Mr. Surendra Mohan Lakhotia as Directors of the Company of the Company, liable to retire by rotation. 6. Re-appointment of Shri. Manoj Kumar Agarwal as the Managing Director of the Company fro a further period of 5 years with effect from March 16, 2009, on remuneration, terms and conditions. 7. Authorized to utilize the credit balance in the securities premium account of the Company for the purpose of meeting the 'Deferred Tax Liability' in terms of Accounting Standard-22 issued by the Institute of Chartered Accountants of India, i.e. Accounting for Taxes on Income.' 8. Increase the Authorised Share Capital of the Company of Rs. 125,00,00,000 (Rupees One Hundred twenty five Crore only) divided into 12,50,00,000 (Twelve Crore Fifty Lacs) equity shares of Rs. 10 (Rupees ten) increased to Rs. 135,00,00,000 (Rupees One hundred thirty Five Crore) divided into 3,50,00,000 (Thirteen Crore fifty lacs) equity shares of Rs. 10 (Rupees Ten) each with the power to the Board to decide on the extent of variation in such rights and to classify and reclassify from time to time such shares into any class of shares & consequential amendments in Memorandum of Association of the Company. (As Per BSE Announcement Website dated on 16.09.2009) 
09-Sep-08
Adhunik Metaliks Limited has informed to the Exchange that the Annual General Meeting of the Company will be held on September 09, 2008. Adhunik Metaliks Ltd has informed BSE that the members at the 7th Annual General Meeting (AGM) of the Company held on September 09, 2008, inter alia, have accorded to the following: 1. Adoption of the Balance Sheet for the financial year ended March 31, 2008 and the Profit & Loss account ended on that date along with the report of the Auditors and Directors thereon. 2. Declaration of dividend at the rate of 12% on the equity shares of the Company for the year ended March 31, 2008. 3. Appointment of Mr. Jugal Kishore Agarwal, Mr. Nirmal Kumar Agarwal & Mr. Mahesh Kumar Agarwal as Directors of the Company, liable to retire by rotation. 4. Appointment of M/s. S R Batliboi & Co., Chartered Accountants, as Auditors of the Company to hold office from the conclusion of this meeting until the conclusion of the next Annual General Meeting on remuneration, terms and conditions. 5. Appointment of Dr. Ramgopal Agarwala as a Director of the Company of the Company, liable to retire by rotation. 6. Authority to the Board for creating mortgage, charge, on the moveable and immovable properties of the Company, both present and future in favour of financial institutions and / or banks for term loans and / or working capital facilities already sanctioned or which may be sanctioned in future to the Company by the said financial institutions and / or banks upto a sum not exceeding Rs 2500 Crores (Rupees Two Thousand Five Hundred Crores) outstanding at any point of time, subject to necessary provisions & approvals. 7. Authority to the Board for borrowing from time to time, for the purpose of Company's business, any sum as it may deem proper, notwithstanding that the monies already borrowed by the Company, if any (apart from temporary loans obtained by the Company's bankers in ordinary course of business) may exceed the aggregate for the time being of the paid up capital of the Company and its free reserves, that is to say, reserves not set apart for any specific purpose, provided that the total amount of monies so borrowed by the Board together with monies already borrowed (apart from temporary loans obtained by the Company's bankers in ordinary course of business) shall not exceed Rs 3000 Crores (Rupees Three Thousand Crores) outstanding at any time and that for the implementation of this resolution the Board may act through any member thereof, or any other person duly authorized by the Board in that behalf, subject to necessary provisions & approvals. 8. Authority to the Board for increasing the Sitting Fees payable to the Non-Executive Directors of the Company for attending Board Meetings of the Company to Rs 20,000/- only per Board Meeting and upto Rs10000/- for attending any Committee Meeting, subject to necessary provisions & approvals. 9. Authority to the Board for increasing the remuneration of Mr. Manoj Kumar Agarwal, Managing Director, with effect from June 02, 2008 till the remaining period of his tenure i.e. up to March 15, 2009, on remunerations, terms & conditions. 10. Alternation of the existing Articles 128 and 134 of the Articles of Association of the Company in the following manner: 1. By replacing the existing Article 128 with the following: Unless otherwise determined by a General Meeting of the Company, the number of Directors (excluding Debenture and Alternate Directors, if any) shall not be less than three nor more than 14" 2. By replacing the existing Article 134 with the following: Subject to the provisions of the Act, the Board shall have power at any time and from time to time to appoint any other qualified person to be an additional director, but so that the total number of Directors including the additional director shall not at any time exceed a maximum of 14 directors as fixed under Article 128. Any such additional director shall hold office only upto the date of the next Annual General Meeting". (As per BSE Announcement dated on 18/09/2008) 

EGM

02-Mar-09
Extra Ordinary General Meeting of the Company on March 02, 2009 to discuss and finalise the scheme of merger. Adhunik Metaliks Ltd has informed BSE that a Court convened meeting was held on March 02, 2009 for approval of the Scheme of amalgamation of Sri. M P Ispat & Power Pvt. Ltd and its shareholders, Vedvyas Ispat Ltd and its shareholders with Adhunik Metaliks Ltd and its shareholders. The said scheme of amalgamation has been approved unanimously. (As Per BSE Announcement Website dated on 02.03.2009)  
26-Nov-07
Adhunik Metaliks Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 30, 2007 has approved the following subject to approval of the share holders at the ensuing extra ordinary general meeting called on November 26, 2007: 1. Issue and allotment of 81,54,000 unsecured non transferrable fully / compulsory convertible debenture of face value of Rs 122.64 each for cash at par to Clearwater Capital Partners (Cyprus) Ltd of 27 Pindarou Street, Alpha Business Center, Ayious Antonios, 1060 Nicosia. The debenture shall carry a coupon of 4% or pro-rata thereof payable at the time of conversion. The entire sum of Rs 122.64 per debenture shall be payable on application. Debentures shall be compulsorily converted into equity shares within eighteen months from the date of issuance thereof, at a conversion price of Rs 122.64 per equity share. The price has been fixed on the basis of SEBI DIP Guidelines 2000. The relevant date for the purpose of price fixation has been taken as October 27, 2007 (i.e. the 30th day prior to the date of EGM i.e. November 26, 2007). 2. Offer / issue / allotment on preferential basis 11110249 nos. of zero coupon convertible warrants at a price of Rs 117/- each based on the relevant date i.e. October 27, 2007 to promoters / promoter group / their associates namely: - Mahananda Suppliers Ltd : 5525125 - Sungrowth Shares & Stock Ltd : 5525124 - Mr. Jugal Kishore Agarwal : 10000 - Mr. Ghanshyamdas Agarwal : 10000 - Mr. Nirmal Kumar Agarwal : 10000 - Mr. Mohanlal Agarwal : 10000 - Mr. Mahesh Kumar Agarwal : 10000 - Mr. Manoj Kumar Agarwal : 10000 Each warrant entitling the holder thereof to apply and be allotted one fully paid up equity share of Rs 10/- each, at any time not exceeding eighteen months from the date of allotment of the warrants such that the total number of equity shares to be issued by the Company upon conversion of the warrants do not exceed 1,11,10,249 equity shares of face value of Rs 10/- each. Each warrant shall be convertible into one equity share of face value of Rs 10/- each of the Company. An amount equivalent to at least 10 percent shall become payable for the warrants before the date of their allotment. 3. To increase the paid-up capital from Rs 100.00 Crores to Rs 125.00 Crores. Further the Board has also approved for change in accounting year from March 31st to December 31st subject to approval of Central Government / Income Tax authority / other statutory bodies as required in this regard. 
10-Nov-06
Adhunik Metaliks Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 11, 2006, inter alia, has resolved to convened an Extraordinary General Meeting of the members of the Company on November 10, 2006 to seek approval for the following: "Utilisation of securities Premium account to meet Deferred Tax Liability required to be provided in terms of Accounting Standard-22". Adhunik Metaliks Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on November 10, 2006, to authorized the Company to utilize the credit balance in the securities Premium Account of the Company for the purpose of meeting the 'deferred tax liability' in terms of Accounting Standard-22 issued by the Institute of Chartered Accountants of India i.e. Accounting for Taxes on Income", subject to necessary provisions & approvals. (As per BSE Announcement website dated on 23/10/2006) Adhunik Metaliks Ltd has informed BSE that the members at the Extra-Ordinary General Meeting (EGM) of the Company held on November 10, 2006, has passed special resolution to utilize the credit balance in the securities Premium Account of the Company for the purpose of meeting the eferred tax liability' in terms of Accounting Standard - 22 issued by the Institute of Chartered Accountants of India i.e. Accounting for Taxes on Income, subject to necessary provisions and approvals. (As per BSE Announcement website dated on 13/11/2006) 

Peer Comparison

Company Market Cap
(Rs. in Cr.)
P/E (TTM)
(x)
P/BV (TTM)
(x)
EV/EBIDTA
(x)
ROE
(%)
ROCE
(%)
D/E
(x)
Uttam Value Ste. 1,171.82 0.00 2.60 5.55 0.0 0.0 0.00
Electrosteel St. 1,021.21 0.00 0.49 0.00 0.0 0.0 2.57
Usha Martin 731.28 104.35 0.47 7.55 -2.1 5.5 1.30
Ratnamani Metals 628.49 4.57 1.18 3.13 23.0 24.5 0.56
Innoventive Ind. 595.80 8.49 1.39 5.72 23.4 24.1 1.01
Prakash Inds. 502.32 2.49 0.28 4.18 15.8 11.5 0.49
APL Apollo 385.91 9.75 1.43 7.99 11.7 15.3 0.77
Sarda Energy 380.01 2.37 0.47 5.03 15.2 12.1 0.91
OCL Iron & Steel 375.48 37.84 0.65 28.25 2.9 2.2 1.44
Visa Steel 367.95 0.00 1.57 47.53 0.0 0.0 5.03
Sunflag Iron 336.57 0.00 0.68 7.49 4.0 7.7 1.07
Surya Roshni 335.74 5.21 0.70 5.35 11.0 11.6 1.69
Surana Inds. 333.90 15.82 0.31 8.19 4.7 8.9 1.34
Adhunik Metal 332.22 0.00 0.49 4.94 -7.0 7.7 2.10
Pennar Inds. 305.66 9.82 1.09 4.11 22.3 28.3 0.47

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Key Information

Key Executives:

Ghanshyamdas Agarwal , Chairman  

Jugal Kishore Agarwal , Director  

Nirmal Kumar Agarwal , Director  

Mohan Lal Agarwal , Director  


Company Head Office / Quarters:
14 N S Road,
2nd Floor,
Kolkata,
West Bengal-700001
Phone : 91-33-22428551/8553
Fax : 91-33-22428551
E-mail : investorsrelation@adhunikgroup.co.in
Web : http://www.adhunikgroup.com
Registrars:
Karvy Computershare Pvt Ltd
Karvy House 46
Road No 4 Street No1
Banjara Hills
Hyderabad - 500034

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