Cabot India Ltd


BSE: 506700 | NSE: CABOTINDIA | ISIN: INE144B01016 
Market Cap: [Rs.Cr.] 83 | Face Value: [Rs.] 10
Industry: Chemicals

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CABOT INDIA LIMITED ANNUAL REPORT 2010-2011 MANAGEMENT DISCUSSION AND ANALYSIS FINANCIAL RESULTS: (Rupees in lakhs) Oct. 2009 to Oct. 2008 to March 2011 Sept. 2009 Sales & Other Income 227,34.98 237,78.46 Operating Profit/(Loss) (Before Interest, Depreciation & Tax) (41,06.85) (21,32.20) Less/(Add): (i) Financial Charges (8,25.36) (9,53.13) (ii) Depreciation & Amortization (64,17.76) (9,16.66) Profit/(Loss) Before Taxation (113,49.97) (40,02.00) (Provision)/Deferred Tax credit - 6.03 Profit/(Loss) After Taxation (113,49.97) (40,08.03) (Loss)/Surplus brought forward (77,98.31) (37,90.28) (Loss) carried to Balance Sheet (191,48.28) (77,98.31) REVIEW OF OPERATIONS: During the period under review, production was stopped at Thane Plant in line with the resolution adopted at the EGM on May 14th, 2010. All the workmen at the Thane Plant have separated under the VRS scheme offered post the decision to cease manufacturing. A few members of the management staff are still engaged in the decommissioning operations, to ensure compliance with the requirements of applicable laws. The Company has started importing Carbon Black from overseas, to service some key segments of the market during the year. The country has seen strong growth in the IP, inks and plastic segments which value high quality carbon black. Over a period, it is expected that reasonable profits can be made via selling into these segments. The Company has made a start and understanding of the logistics of this trade has been established and customer acceptance of servicing via imports has now begun. SAFETY, HEALTH & ENVIRONMENT: Cabot accords top priority to Safety, Health and Environmental issues. The Cabot Safety Health and Environmental Standards are applicable across Cabot facilities worldwide and its S H & E program covers all employees and contractors working at every site. In keeping with the excellent record established with the local Regulatory authorities, Cabot S H & E standards are being diligently followed during the present de-commissioning activities at the Thane Plant. HUMAN RESOURCE AND PARTICULARS OF EMPLOYEES: The Directors wish to place on record their appreciation and recognition of the wholehearted support and co-operation extended by the ex-employees at all levels of the organization and the efforts put in by them to ensure a smooth and safe stoppage of manufacturing operations. The Directors also thank the current employees for their continuing support. Information as per Section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules, 1975 forms part of this report. FUTURE OUTLOOK: In the short-term, dismantling and clearing of the Thane site, is scheduled. This activity is expected to be completed over the next two years. At the moment, sales via imports are small and constrained due to limited availability of product in overseas manufacturing plants. However, it is expected that greater volume will be available to be imported into India once new capacity announced by Cabot in China and Indonesia becomes available. These capacities will come into place at different stages over the next 18-24 months. In the meantime, company is continuing to work with potential customers on market assessment and technical qualification. This work with customers is planned to be converted to future sales when adequate supplies become available. The strong automotive growth in India is likely to continue. It is expected that a profitable business will be built overtime with high quality Cabot products.

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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. 18,451.04 38.96 9.05 19.58 29.7 36.6 0.10
Castrol India 16,365.03 34.91 32.47 37.84 72.6 107.1 0.00
Godrej Inds. 11,368.42 0.00 7.92 48.80 1.0 4.1 0.77
Guj Fluorochem 5,758.76 80.37 2.28 5.44 17.2 20.8 0.37
BASF India 3,717.10 27.59 2.97 11.60 10.4 12.8 0.26
Solar Inds. 3,710.50 40.42 8.14 17.76 25.2 20.7 0.70
Linde India 3,134.47 88.78 2.20 13.35 3.8 4.6 0.95
Clariant Chemica 2,138.27 34.87 3.72 6.48 15.2 19.8 0.00
Aarti Inds. 1,902.69 12.80 2.44 4.11 22.1 18.3 1.24
Micro Inks 1,584.47 11.78 1.98 0.00 18.5 25.5 0.38
Tide Water Oil 979.03 13.86 2.39 5.43 19.1 26.6 0.00
Deepak Nitrite 874.98 23.19 2.86 8.20 13.1 11.9 1.45
Gulf Oil Corpn. 799.36 12.35 1.77 6.31 12.7 13.7 0.66
Alkyl Amines 631.79 15.23 4.51 4.41 34.7 28.1 1.20
Navin Fluo.Intl. 578.23 14.58 1.07 4.12 8.1 9.5 0.13

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Key Information

Key Executives:

C R Dua , Director  

Aled Rees , Director  

Nirmalaya Maity , Director  

Fei Deng , Director  


Company Head Office / Quarters:
Kesar Solitaire 12th Floor,
PlotNo 5 Sector 19 Sanpada,
Navi Mumbai,
Maharashtra-400705
Phone :
Fax :
E-mail :
Web : http://
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