Kilburn Chemicals Ltd


BSE: 524699 | NSE: NA | ISIN: INE655C01027 
Market Cap: [Rs.Cr.] 10 | Face Value: [Rs.] 10
Industry: Chemicals

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Director's Report

DIRECTORS

Your Directors take pleasure in presenting the 23rd Annual Report together with theAudited Accounts of the Company for the Financial Year ended 31st March, 2013.

FINANCIAL HIGHLIGHTS

(Rs. In lacs)
2012-13 2011-12
Total Revenue 271 98582
Gross Operating Profit 341 1424
Depreciation for the year 117 326
Profit Before Extraordinary items and Tax 224 1098
Extraordinary items (Income) 3015
Profit Before Tax (PBT) 224 4113
Provision for Tax including Deferred Tax 12 1708
Net Profit After Tax (PAT) 212 2404
Add : Surplus / Loss brought forward from previous year 3804 1950
Profit available for Appropriation 4016 4354
Transfer to Preference Share Capital Redemption Reserve 274
Transfer to General Reserve 125
Proposed Dividend 130
Dividend Tax 21
Balance Carried Forward 4016 3804

OPERATIONS

During the year under review the Company has achieved turnover of Rs.2.71 crores whichsolely come from Wind Mills Operations. The figure of the last year are not comparablewith the year under review. The profit before Tax is stood at Rs. 2.24 crores in currentyear as compared to Rs. 10.98 crores,in last year which is not comparable with the currentyear as the Company has sold its Chemical Division last year.

EQUITY DIVIDEND

In view of the sharp drop in profitability and with a view to conserve resources forthe Company’s Greenfield Project, the Directors felt it prudent to skip dividend onEquity Shares for the year.

FUTURE OUTLOOK

Your Directors are glad to report that the Company is in the process of setting up anew Project for production of both Anatase and Rutile Grades of Titanium Dioxide with anannual capacity of 15,000 MT in Gujarat, where the Company has already acquired land fromGujarat Industrial Development Corporation at Jolwa Village at Dahej.

The Company is in the process of tying up the term financial assistance for the Projectand has appointed IDBI Capital Market Services for syndicating the necessary facilities.Simultaneously, the Company has commenced Detailed Engineering activities on the Projectand is also pursuing the necessary regulatory clearences.

CONSERVATION OF ENERGY

The required information with regard to energy conservation and technology absorptionas required under Section 217(1) (e) of the Companies Act, 1956, is given in Annexure Aattached to this report.

CORPORATE GOVERNANCE

Pursuant to the provisions contained in the Listing Agreement with Stock Exchanges, aReport on Corporate Governance together with the Auditors’ Certificate on thecompliance of the conditions of the Corporate Governance is annexed. The ManagementDiscussion and Analysis Report has not been annexed as the Company has only windmilloperations in place.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to the requirements under Section 217(2AA) of the Companies Act, 1956 withrespect to Directors’ Responsibility Statement, it is hereby confirmed:

(1) That in the preparation of the Annual Accounts for the financial year ended 31stMarch, 2013, the applicable accounting standards have been followed along with properexplanation relating to material departures;

(2) That the Directors have selected such accounting policies and applied themconsistently and made judgments and estimates that are reasonable and prudent so as togive a true and fair view of the state of affairs of the Company at the end of thefinancial year and the profit of the Company for year under review;

(3) That the Directors have taken proper and sufficient care for the maintenance ofadequate accounting records in accordance with the provisions of the Companies Act, 1956,for safeguarding the assets of the Company and for preventing and detecting fraud andother irregularities;

(4) That the Directors have prepared the Annual Accounts on a going concern basis.

COST AUDITOR

The Board of Directors have appointed M/s. DGM & Associates, Cost Accountants,Kolkata, to audit the cost accounts of the Company for the financial year ended 31stMarch, 2013, in compliance with the Central Government directives in this regard.

DIRECTORS

Shri V.Vanchi and Shri Anand Chatrath retire by rotation at this Annual General Meetingand being eligible, offer themselves for re-election.

Shri B. P. Jalan, Chairman of the Company has submitted his resignation due to personalreason with effect from 9.11.2012. The Board has placed on record its appreciation for thevaluable contribution made by him during his tenure as Chairman of the Company .

The Company has appointed Shri Tushar Mahendra Patel as a Director with effect from9.11.2012 to fill the Causal vacancy caused due to resignation of Shri B. P. Jalan.

AUDITORS

M/s G. P. Kejriwal & Associates, Chartered Accountants, retire at the conclusion ofthis meeting and being eligible offer themselves for reappointment.

PARTICULARS OF EMPLOYEES

Industrial relations in the Company continued to be cordial and satisfactory.

ACKNOWLEDGEMENT

Your Directors are grateful for the co-operation and continued guidance and supportextended by various agencies of Central Government and State Government (s) and variousGovernment Departments and Agencies, Axis Bank Ltd., and HDFC Bank Ltd . Your Directorsthank and express their gratitude to various stakeholders i.e customers, dealers,suppliers, advisors and consultants for their committed engagement with the Company . TheDirectors greatly appreciate the dedicated and sincere services rendered by the employeesat all levels. Finally, the Directors express their gratitude to all the Shareholders fortheir support.

For and on behalf of the Board,
Place : Kolkata S. K. JALAN
Date : 30th May, 2013 Managing Director

ANNEXURE - A

FORM – A

(See Rule 2)

Disclosure of particulars with respect to conservation of energy

A) POWER AND FUEL CONSUMPTION : Current Year Last Year
2012-2013 2011-2012
1] ELECTRICITY:
a] Purchased :
Units 34,76,171.00
Total Amount Rs.1,67,50,973
Rate / Unit Rs.4.82
b] OWN GENERATION :
[i] Through Diesel Generator
Units 12,95,908.00
Units per litre of fuel 4.11
Cost per unit Rs.12.19
[ii] Through Steam
Turbine/Generator [Units] 5,89,495.00
[iii] Wind Power [Units]

66,70,604.00

2] COAL :
Quantity [MT] 7,662.50
Total Amount Rs.4,41,12,026
Average Rate Rs.5,757
3] FURNACE OIL / KEROSENE:
Quantity [K.Ltrs] 2,353.70
Total Amount Rs.7,53,97,608
Average Rate Rs.32,033.65
4] OTHERS:
FIRE WOOD
Quantity [MT] 321.25
Total Amount Rs.11,83,544
Average Rate Rs.3,684.24
B] CONSUMPTION PER UNIT OF PRODUCTION :
I] TITANIUM DIOXIDE
a] Power 1,065 Units
b] Furnace Oil / Kerosene 396 Ltrs
c] Firewood

0.054 Tonne

d] Coal 1.288 Tonne
[ii] FERROUS SULPHATE HEPTA HYDRATE
a] Power 96 Units
   

Peer Comparison

Company Market Cap
(Rs. in Cr.)
P/E (TTM)
(x)
P/BV (TTM)
(x)
EV/EBIDTA
(x)
ROE
(%)
ROCE
(%)
D/E
(x)
Pidilite Inds. 17,287.44 36.03 9.98 19.58 29.7 36.6 0.10
Castrol India 14,918.44 30.23 29.60 20.39 71.4 104.3 0.00
Godrej Inds. 10,667.22 189.26 6.60 56.01 2.7 4.8 0.50
Guj Fluorochem 3,588.24 29.55 1.44 5.44 17.2 20.8 0.37
BASF India 3,429.65 24.24 3.00 11.60 10.4 12.8 0.26
Linde India 2,730.67 242.58 1.92 15.35 4.1 4.0 0.75
Clariant Chemica 1,869.00 22.29 3.25 6.48 15.2 19.8 0.00
Solar Inds. 1,853.35 20.74 4.68 17.76 25.2 20.7 0.70
Micro Inks 1,584.47 11.78 1.98 0.00 18.5 25.5 0.38
Gulf Oil Corpn. 1,196.24 22.94 2.77 6.31 12.7 13.7 0.66
Aarti Inds. 1,193.44 8.50 1.76 4.11 22.1 18.3 1.24
Tide Water Oil 735.02 10.45 2.08 5.43 19.1 26.6 0.00
Elantas Beck 532.38 16.77 4.92 8.60 24.0 32.5 0.00
Deepak Nitrite 485.93 15.24 1.74 7.35 12.9 10.2 1.14
Wimco 482.78 165.32 67.43 0.00 6.8 1.9 0.05

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Key Information

Key Executives:

S K Jalan , Managing Director  

V Vanchi , Director  

A D Nanaiya , Director  

R Chaudhri , Director  


Company Head Office / Quarters:
Shantiniketan 16th Floor,
8 Carmac Street,
Kolkata,
West Bengal-700017
Phone : 91-33-22828501/40274444
Fax : 91-33-40274400
E-mail : corporate@kilburnchemicals.com
Web : http://www.kilburnchemicals.com
Registrars:
Maheshwari Datamatics Pvt Ltd
6 Mangoe Lane
2nd Floor

Kolkata - 700 001

Fund Holding

 
Scheme Name No. of Shares
No data found

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