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×

eicl limited english indian clays Limited

19.20
+ 1.05 %
Scrip Name
EICL
ISIN No.
INE267F01024
PAN No.
AAACE5011C
Face Value
2
No. of Outstanding Shares
50,276,013
Market Capitalization
96.53 Crore

EICL LIMITED UNLISTED SHARE


ABOUT EICL LIMITED


EICL LIMITED (English Indian Clays Limited) is a part of Thapar Group. EICL Limited is engaged in the business of mining clay (Kaolin) and manufacturing of processed clay, starch, and allied products. The company started with a technical and financial collaboration with English China Clays Limited, United Kingdom, the pioneer and the then world leader in Kaolin processing. However, the collaboration stopped in the year 1992.


The Clay Division of the company has three manufacturing locations in Kerela, and specializes in mining and processing of high-end Kaolins. The Company had discontinued its manufacturing operations of starch and allied products in Shimoga unit from September 2018 and Yamunanagar unit with effect from 31 January 2018. However, the company has grown to be the market leader in both the clay and starch division.    


EICL Limited has Asia’s largest mining and processing facility with an installed capacity of 300,000 Tonnes per annum producing hydrous and calcined clays. EICL’s mines in Trivandrum are spread over 41.88 hectares located at Melthonnakkal, Karemood, Veiloor, and DBH. Matrix of the finest quality china clay with grades of White, Pink, Grey, and Sandy white.


EICL Limited’s Kaolin products have a wide range of industrial applications. It is used in the paint industry as a functionally extended pigment, in the rubber industry for its reinforcing and stiffening properties, in the ceramic industry in whiteware, insulators, and refractory, in the paper industry as filler and coating, and in petroleum and related cracking industries as a catalyst.


INCORPORATION DETAILS


CIN

U26939KL1963PLC002039

Registration Date

18th November 1963

Category/Sub-category of the Company

Limited by Shares

Address of the Registered office and contact details

TC-79/4, Veli,

Thiruvananthapuram–695021 (Kerala)

Phone: 0471-4095111

Web: www.eicl.in

Email: sect@eicl.in

Name, Address and Contact Details of

Registrar and Transfer Agent, if any

RCMC Share Registry Private Limited,

B-25/1, First Floor, Okhla Industrial Area,

Phase-II, New Delhi-110020

Phone: 011-26387320

Web: www.rcmcdelhi.com

Email: investor.services@rcmcdelhi.com


PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

Name and Description of main products/services

NIC Code of the product/service

% to the total turnover of the Company

Mining of Clay

8108

100%


BOARD OF DIRECTORS

Mr. Vijay Dilbagh Rai

Mr. T. Balakrishnan

Mr. Suresh Kumar Jain

Ms. Shivpriya Nanda

Mr. Joy Kumar Jain (up to 11.05.2020)

Mr. Firdose Vandrevala (w.e.f. 25.05.2021)

 

PARTICULARS OF SUBSIDIARY AND ASSOCIATE COMPANIES

The Company acquired the Full Equity Shareholding of Kaolin India Private Limited on 03-06-2020 from its group Company and pursuant to the same, Kaolin India Private Limited became its wholly-owned subsidiary Company


EICL LIMITED UNLISTED SHARE DETAILS


Total Available Shares:

5,02,76,013

Face Value:

Rs. 2 Per Equity Share

ISIN:

INE267F01024

PAN No.

AAACE5011C

Lot Size:

100

Last Traded Price:

Rs. 25

Market Cap:

Rs. 125.69 Crore


SHAREHOLDING PATTERN

Shareholders’ Name

% Shareholding 2021

No. of Shares 2021

No. of Shares 2020

D B H International Private Limited (Promoter)

0%

0.00

3,26,61,297

Karun Carpets Private Limited (Promoter)

91.65%

4,60,78,066

0.00


Standalone Balance Sheet as at 31 March 2021

(In Rs. Lakhs)


Particulars

2021

2020

ASSETS



NON-CURRENT ASSETS



Property, plant, and equipment

14,814.52

15,084.62

Capital work in progress

53.09

551.56

Other intangible assets

3.59

7.50

Right to use assets

110.10

117.58

Investments

55.00

5.00

Other financial assets

228.62

248.14

Deferred tax assets

228.57

0.00

Other non current assets

2,417.62

2,230.85

TOTAL NON-CURRENT ASSETS

17,911.11

18,245.25

CURRENT ASSETS



Inventories

1,773.55

2,062.27

Investments



Trade receivables

2,138.45

2,576.99

Cash and cash equivalent

15.19

22.00

Other bank balances

20.86

21.48

Other financial assets

200.21

268.45

Other current assets

422.63

461.66

TOTAL CURRENT ASSETS

4,570.89

5,412.85

Non-current assets classified as held for sale

4,401.52

4,401.52

TOTAL ASSETS

26,883.52

28,059.62

EQUITY AND LIABILITIES



EQUITY



Equity Share Capital

1,005.52

1,005.52

Reserves and Surplus

16,563.08

17,663.44

TOTAL EQUITY

17,568.60

18,668.96

LIABILITIES



NON CURRENT LIABILITIES



Borrowings

888.87

837.82

Other financial liabilities

63.06

94.85

Provisions

2,043.77

2,006.78

Deferred tax liabilities (Net)


103.10

TOTAL NON-CURRENT LIABILITIES

2,995.70

3,042.55

CURRENT LIABILITIES



Borrowings

2,498.16

1,703.31

Trade payables

2,506.48

3,925.02

Other financial liabilities

850.15

270.95

Other current liabilities

192.67

140.88

Current tax liabilities

110.37

97.15

Short term provisions

161.39

210.80

TOTAL CURRENT LIABILITIES

6,319.22

6,348.11

Total liabilities

9,314.92

9,390.66

Total equity and liabilities

26,883.52

28,059.62

 

Standalone Statement of Profit and Loss 

(In Rs. Lakhs)                                                                                                                                                                                                                                                            

Particulars

2021

2020

2019

2018

Revenue from Operations

10,448.28

20,226.81

27,113.96

29,017.16

Other Income

130.01

316.99

206.59

222.22

Total Revenue

10,578.29

20,543.80

27,320.55

29,239.38

 change %

                 -49%

             -25%

           -7%

       NA

EBITDA

-28.06

-377.15

3455.11

6447.62

Change %

                 -93%

          -111%

          -46%


EBITDA Margin





DEP

937.17

909.37

839.97

892.92

FINANCE COST

547.99

727.51

596.96

760.56

Exceptional items (loss) / gain


-563.05

-136.3


PBT

-1,513.22

-2,014.03

2,001.36

4,121.39

Tax Expense I Current Taxes

0.00

0.00

777.23

1,431.93

Income tax relating to earlier years

0.00

-195.1

12.92

0.46

Deferred taxes

-352.11

-693.69

-21.05

37.25

Total  Tax Expense

-352.11

-888.79

769.10


PAT From Continuing Operation

-1,161.11

-1,125.24

1,232.26

2,651.75

Profit margin prom operation

-11%

-5%

5%

9%

Profit/(Loss) from discontinuing operations

0.00

0.00

-62.21

431.48

Total Profit for the period

-1,161.11

-1,125.24

1170.10

3083.32

Profit Margin

-11%

-5%

4%

11%

No of Shares

5,02,76,013

5,02,76,013

5,02,76,013

5,02,76,013

EPS( in Rs.)

-2.31

-2.24

2.33

5.89

 

Financial Statement of Subsidiary Company

(In Rs. Lakhs)

Name of the Subsidiaries Kaolin India Private Limited

Kaolin India Private Limited

The reporting period for the subsidiary concerned, if different from the holding Company’s reporting period

From 03-06-2020 to 31-03-2021

 Reporting Currency and Exchange rate as on the last date of the relevant Financial Year

N.A.

 Share capital

950.00

 Reserves & surplus

-22.05

Total assets

1,052.51

 Total Liabilities

1,052.51

 Investments

0.00

 Turnover

0.00

 Profit before taxation

-22.13

Provision for taxation

-0.30

 Profit after taxation

-21.83

Proposed Dividend

0.00

% of shareholding

100%


Ratio Analysis on Standalone Basis


Particulars

2021

2020

Current ratio

0.72

0.85

ROE

-6.61%

-6.03%

Shareholders Equity (in Rs. Lakhs)

17,568.60

18,668.96

Debt to Equity

0.5302

0.5030

Debt to Asset

0.3465

0.3347

Debt capital ratio

35%

33%


 

Consolidated Balance Sheet as at 31 March 2021

(In Rs. Lakhs)

 

Particulars

2021

ASSETS


NON-CURRENT ASSETS


Property, plant, and equipment

15,688.79

Capital work in progress

53.09

Other intangible assets

3.59

Right to use assets

110.1

Investments

5

Other financial assets

241.99

Deferred tax assets

228.88

Other non current assets

2,417.62

TOTAL NON-CURRENT ASSETS

18,749.06

CURRENT ASSETS


Inventories

1,851.40

Trade receivables

2,138.45

Cash and cash equivalent

76.95

Other bank balances

20.86

Other financial assets

209.35

Other current assets

427.19

TOTAL CURRENT ASSETS

4,724.20

Non-current assets classified as held for sale

0.00

TOTAL ASSETS

 

EQUITY AND LIABILITIES


EQUITY


Equity Share Capital

1,005.52

Reserves and Surplus

16,530.62

TOTAL EQUITY

17,536.14

LIABILITIES


NON-CURRENT LIABILITIES


Borrowings

1,788.87

Other financial liabilities

63.06

Provisions

2,043.77

Deferred tax liabilities (Net)

0.00

TOTAL NON-CURRENT LIABILITIES

3,895.70

CURRENT LIABILITIES


Borrowings

2,498.16

Trade payables

2,559.30

Other financial liabilities

919.46

Other current liabilities

194.26

Current tax liabilities

110.37

Short term provisions

161.39

TOTAL CURRENT LIABILITIES

6,442.94

Total liabilities

10,338.64

Total equity and liabilities

27,874.78


Consolidated Statement of Profit and Loss

for the year ended 31 March 2021 (in Rs. Lakhs)

Particulars

2021

Revenue from Operations

10,448.28

Other Income

119.59

Total Revenue

10,567.87

EBITDA

-59.68

EBITDA Margin

-0.56%

DEP

938.31

FINANCE COST

547.99

Exceptional items (loss) / gain

0.00

PBT

-1,545.98

Tax Expense I Current Taxes

0.00

Income tax relating to earlier years

0.00

Deferred taxes

-352.41

Total Tax Expense

-352.41

PAT From Continuing Operation

-1,193.57

Profit margin prom operation

-11%

Profit/(Loss) from discontinuing operations

0

Total Profit for the period

-1,193.57

Profit Margin

-11%

No of Shares

5,02,76,013

EPS( in Rs.)

-2.37

 

Ratio Analysis on Consolidated Basis

Book Value per share

34.87

P/B Multiple

0.72

P/E Multiple

NA

Current ratio

0.730

ROE

-7.00%

Debt to Equity

0.5800


DIVIDEND HISTORY

Particulars

2021

2020

2019

2018

Dividend (final + interim) (In Rs.)

Nil

Nil

0.5

2

 

PERFORMANCE OF THE COMPANY

Revenue of the company is on the decline for the past three years but due to the pandemic, the revenue for FY 2021 has declined significantly by 49%  from Rs. 20, 543 lakhs in FY 2020 to Rs. 10,578 lakhs in FY 2021.


EBITDA of the company is also continuously on the decline and for this year it has decreased by 93%


The Company’s performance has not been very encouraging during the year and the Net Sales Turnover of the Company for the year ended 31st March 2021 was at ` 10577 Lacs compared to ` 20544 Lacs in the previous year. The Operations of the Company were severely impacted due to the lockdowns imposed across the country and this coupled with the unavailability of raw material resulted in a complete shutdown of operations for over two months. operations were severely affected for 7 months of the year and only one of the plants, Thonnakal, resumed operations at the end of October, while the larger capacity plant in Veli continues to remain closed. This will likely continue until demand revives and mining leases that are long pending approval for commencement of mining are granted by the Kerala Government


The current ratio of the company as of 31st March 2020 was .72.


The debt to Equity ratio of the company as of 31st March 2020 was .58.


The book value of the company as of 31st March 2020 was Rs. 34.33.

 

The company has not given any dividends for FY 2021.



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