Investors e-Auction Annual Report
2014-2015
Annual Report Subsidiary Cos Press Release
 
Mukand Ltd., registered under The Companies Act, 1956, is a widely-held public limited company with over 49,700 equity shareholders and over 45,600 cumulative preference shareholders. The Company is listed on The Stock Exchange, Mumbai and on the National Stock Exchange of India Limited.
       
   
 
       
   
  10 lakhs = 1 million    
 

Chairman's Speech at AGM, held on 12th Aug, 2015

SPEECH OF SHRI NIRAJ BAJAJ, CHAIRMAN & MANAGING DIRECTOR DELIVERED AT THE 77TH ANNUAL GENERAL MEETING OF THE COMPANY HELD ON 12TH AUGUST, 2015

It is always a pleasure to meet you all again. I welcome you to the 77th AGM of your Company.

You can see that the performance of your Company during the year 2014 - 15 has improved considerably as compared to the previous year mainly due to increase in capacity utilization and reduction in costs.

The production of alloy steel at Ginigera (Karnataka) increased during the year. The Company commenced utilising Sinter in place of the high cost iron ore lumps which has reduced the input costs. The use of beneficiated iron ore eased the pressure of procuring iron ore lumps resulting in the increase in production of billets and blooms.

Although the overall availability of iron ore also eased during the year, the majority of iron mines in Karnataka continued to remain closed since the Honourable Supreme Court’s order in July 2011. This resulted in steel plants in Karnataka having a disadvantage over their competitors situated in other mining states.

The sales of alloy steel products increased by 11% over the previous year. This was made possible due to better capacity utilization. New products developed in-house to stringent requirements for critical applications contributed to 18% of the total sales of alloy steel products.

The Company continued its focus on new product development by working in tandem with the international original automobile manufacturers and component makers to augment their localisation programmes.

The production of stainless steel at Dighe (Thane) was also higher as compared to the previous year. The sales of Stainless Steel products of the Company increased by 13 % from that of the previous year.

Dear shareholders, please allow me a few minutes to differentiate your Company’s product category from that of the general steel industry. You often hear depressing statements about the general condition of the steel industry. Let me emphasize here that these statements may be true for commodity steel products but your Company produces speciality steel long products which cater to a very niche market. Out of India’s entire steel production of apprx 90 MT per year, the special, alloy and stainless steel long products, in which your Company operates is only 6 – 7 MT per year.

I am happy to say that your Company was an outperformer and continues to be a leader in the industry amongst specialised steel plants with similar products to record 12% increase in net sales of steel products in the year 2014-15 .

However, I would like to draw your attention to the huge increase in the import of steel specially from China. Although the majority of these imports are in the commodity steel markets this has adversely affected the entire domestic steel industry and put pressure on the pricing of all steel products, including our products.

The Industrial Machinery Division was severely affected due to the slow down in the modernization and expansion activities in steel and infrastructure sectors, resulting in lower sales and margins. The capital goods production has recorded a 4.4% growth in the period April – May 2015 perhaps indicating that the industry may just pick up in the coming quarters.

The division has an order book of Rs. 284 crore as on June 2015.

I am happy to inform you that the Company has repaid all its debts to all the CDR lenders and the CDR Empowered Group has given the approval for the Company’s exit from CDR mechanism.

The CSR activities, done jointly with the Janaki Devi Bajaj Gram Vikas Sanstha, are steadily progressing. Apart from providing text books, notebooks, compass boxes and footwear to 10, 000 children studying in classes 8,9 and 10 across 44 schools in Shahapur in Thane District, we also conduct free math classes in about 30 schools in this taluka. We also provided footballs and volleyballs to all the schools in order to promote sports amongst the children. We have 2 vocational centres for girls and are also involved in building toilets in some of these schools where such basic facilities are not available.

The Board of Directors have just announced the gross turnover of the Company in the first quarter of the current year at Rs 758 crore (compared to Rs. 724 crore in the immediately preceding quarter). Barring unforeseen circumstances we expect to achieve a turnover of Rs. 3,300 crore in the year in running.

The transfer of the alloy steel business to the subsidiary, Mukand Alloy Steels Private Ltd will be completed after all the approvals from the various authorities are obtained.

As mentioned in the beginning, it is a pleasure to see you all here and on behalf of my colleagues on the board I thank you for your continued support to your Company and the management. I also thank all the stakeholders of the Company who have always contributed to the progress of your Company.

Thank you.

 
 
 
 

Unaudited Financial Results for Quarter ended June 15

Regd. Office : Bajaj Bhawan, Jamnalal Bajaj Marg, 226, Nariman Point, Mumbai 400 021
STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE THREE MONTHS AND QUARTER ENDED JUNE 30,2015
  Part - I       Rs. in lakhs
    Quarter ended Year ended
  Particulars 30-Jun-15 31-Mar-15 30-Jun-14 31-Mar-15
    Unaudited Audited Unaudited Audited
           
(1) INCOME FROM OPERATIONS        
           
a) Gross Sales 75754.57 72425.50 74786.91 310367.27
  Less : Excise Duty Recovered 8206.81 7419.73 7471.04 30949.08
  Net Sales 67547.76 65005.77 67315.87 279418.19
b) Other Operating Income 558.57 955.68 522.25 2545.60
  Total Income from Operations 68106.33 65961.45 67838.12 281963.79
           
(2) EXPENSES        
a) Cost of materials consumed 30263.51 32542.61 35046.53 138423.04
b) Purchase of Stock in Trade -- 76.20 25.17 158.30
c) Changes in inventories of finished goods and work-in-progress 1318.82 -4735.40 -3954.22 -13731.83
d) Stores, Spares, Components, Tools, etc. consumed 9505.29 12117.13 10439.36 44195.12
e) Power & Fuel 4642.81 4402.06 5052.02 19347.64
f) Employee benefits expense 4167.68 4419.37 3769.92 15901.23
g) Foreign Exchange (Gain)/Loss (net) 712.06 -563.41 500.78 1372.06
h) Depreciation and Amortisation expenses 1822.30 1927.26 1845.14 7496.96
i) Other Expenditure 9840.63 8806.98 10100.56 42481.99
  Total Expenses 62273.10 58992.80 62825.26 255644.51
(3) Profit/(Loss) from Operations before Other Income , Finance Costs, & Net Exceptional income/ (Expenditure) 5833.23 6968.65 5012.86 26319.28
(4) Other Income [Refer Note 2] 234.21 150.56 1319.61 2008.16
(5) Profit/(Loss) from Ordinary Activities before Finance Costs & Net Exceptional income/ (Expenditure) 6067.44 7119.21 6332.47 28327.44
(6) Less : Finance Costs (net) 6887.13 7112.56 5960.36 26608.79
(7) Profit / (Loss) from ordinary activities before Net Exceptional income / (Expenditure) -819.69 6.65 372.11 1718.65
(8) Net Exceptional Income / (Expenditure) -- -571.65 -311.29 -1505.52
(9) Profit / (Loss) before Tax -819.69 -565.00 60.82 213.13
(10) Tax Expense / (Credit) -250.49 -157.67 21.65 55.06
(11) Profit / (Loss) after Tax -569.20 -407.33 39.17 158.07
           
           
  MUKAND LIMITED       Rs. in lakhs
    Quarter ended Year ended
    30-Jun-15 31-Mar-15 30-Jun-14 31-Mar-15
    Unaudited Audited Unaudited Audited
           
(12) Paid-up Equity Share Capital (Face value Rs 10/- per share) 14,141.74 14,141.74 14,141.74 14,141.74
           
(13) Reserves (excluding Revaluation Reserve)       31,801.67
           
(14) Earnings per Share (EPS) - Rs 0.00 0.00 0.00 0.00
  Basic and Diluted EPS (in Rs.)        
  - Including exceptional items (0.40) (0.29) 0.03 0.11
  - Excluding exceptional items (0.40) 0.12 0.25 1.18
           
           
  Part - II        
           
A PARTICULARS OF SHAREHOLDING        
           
(1) Public Shareholding        
  Number of Shares 40,367,908 40,367,908 37,674,853 40,367,908
  Percentage of Shareholding 28.55% 28.55% 26.64% 28.55%
           
(2) Disclosure in respect of pledged shares of Promoters and Promoter Group        
           
  Shares held by Promoters & Promoter Group - Nos. (A) 101,037,953 101,037,953 103,731,008 101,037,953
  Percentage of Total Share Capital 71.45% 71.45% 73.36% 71.45%
  Pledged / Encumbered - No. of Shares 21,541,015 18,341,015 29,767,790 18,341,015
  Percentage of Total Share Capital 15.23% 12.97% 21.05% 12.97%
  Percentage of (A) 21.32% 18.15% 28.70% 18.15%
           
  Non Encumbered - No. of Shares 79,496,938 82,696,938 73,963,218 82,696,938
  Percentage of Total Share Capital 56.22% 58.48% 52.31% 58.48%
  Percentage of (A) 78.68% 81.85% 71.30% 81.85%
           
           
    Quarter ended      
    30-Jun-15      
           
B INVESTOR COMPLAINTS        
           
  Pending at the beginning of the quarter Nil      
  Received during the quarter 12      
  Disposed off during the quarter 12      
  Remaining unresolved at the end of the quarter Nil      
           
           
           
           
           
           
  MUKAND LIMITED       Rs. in lakhs
    Quarter ended Year ended
    30-Jun-15 31-Mar-15 30-Jun-14 31-Mar-15
    Unaudited Audited Unaudited Audited
  SEGMENT REVENUE (net of Excise Duty)        
           
1) Steel 64,764.57 61,373.91 63,893.51 265,668.18
           
2) Power Generation 961.91 816.16 827.23 3,674.09
           
3) Industrial Machinery 3,372.09 4,593.62 3,851.84 16,371.59
           
4) Road Construction -- 3.07 124.91 128.18
           
  Sub-total 69,098.57 66,786.76 68,697.49 285,842.04
           
  Less : Inter Segment Revenue (992.24) (825.31) (859.37) (3,878.25)
           
  Total Segment Revenue (net of Excise Duty) 68,106.33 65,961.45 67,838.12 281,963.79
           
  SEGMENT RESULT       0.00
           
1) Steel 5,287.42 6,408.90 3,583.69 22,839.30
           
2) Power Generation 802.64 629.42 694.20 3,043.94
           
3) Industrial Machinery (3.99) 230.51 959.24 1,562.24
           
4) Road Construction (28.65) (32.76) (7.72) (139.60)
           
  Less : Inter segment margin -- (0.15) -- (20.57)
           
  Total Segment Result 6,057.42 7,235.92 5,229.41 27,285.31
           
  Add / (Less) :        
           
  Other net un-allocable :        
  Income 234.21 150.56 1,319.61 2,008.16
  Expenditure 224.19 267.27 216.55 966.03
  Other net un-allocable (expenditure) / income 10.02 (116.71) 1,103.06 1,042.13
           
  Profit /(Loss) before Finance costs 6,067.44 7,119.21 6,332.47 28,327.44
           
  Less : Finance costs (net) 6,887.13 7,112.56 5,960.36 26,608.79
           
  Net Exceptional - Income / (Expenditure) -- (571.65) (311.29) (1,505.52)
           
  Profit / (Loss) before tax (819.69) (565.00) 60.82 213.13
           
  Capital Employed as on 30-Jun-15 31-Mar-15 30-Jun-14 31-Mar-15
           
1) Steel 364,555.55 362,103.17 341,907.12 362,103.17
2) Power Generation 4,255.02 4,282.51 4,506.63 4,282.51
3) Industrial Machinery 52,067.64 52,083.47 52,492.74 52,083.47
4) Road Construction 12,851.87 12,843.18 13,496.46 12,843.18
5) Unallocable (net) (222,325.21) (219,228.54) (200,103.41) (219,228.54)
           
  Total Net Capital Employed 211,404.87 212,083.79 212,299.54 212,083.79
 
 
 

Notes for Q1, 2015

Notes:

  1. The Company was under financial restructuring scheme approved by Corporate Debt Restructuring Empowered Group (CDR EG) set up by Reserve Bank of India. As all dues payable under the said scheme were paid, the CDR EG confirmed on June 1, 2015 the exit of Company's account from CDR mechanism.
  2. Other income for the quarter ended 30th June 2014 included surplus amounting to Rs.1,049 Lakhs on sale of part of Office premises.
  3. Management's response to the observations of the auditors on the financial statements for the year ended 31.03.2015:
    • Advances due from and investments made in Vidyavihar Containers Limited (VCL), aggregating Rs. 5,213 Lakhs as at 31st March 2015 now stand at Rs. 4,713 Lakhs as at 30th June 2015. During the quarter, the Company has realised an amount of Rs.500 Lakhs towards the advances due from VCL. The Company, barring unforeseen circumstances, relies upon the estimation of future realizable values of the financial assets of VCL to recover its Exposures;
    • As regards investments made in Mukand Global Finance Limited (MGFL), aggregating Rs.2,625 Lakhs, the recovery is dependent upon realization of the financial assets that MGFL stands invested into at the close of the year and future earnings from the business activities of MGFL. The management considers the ‘Exposure’ to be ‘Good’ and adequately covered. Any ultimate shortfall if any in the realization is not determinable at present.
    • The investments in and debts / advances due from Bombay Forgings Limited (BFL), which stood at Rs.8,173 Lakhs as at 31.03.2015 has increased marginally to Rs.8,850 Lakhs as at 30.06.2015 due to increase in supplies. Recovery towards current supplies will be made on due dates. The management, considering its long term view on the ‘Exposures’, relies upon the valuation of unencumbered fixed assets of BFL as at 31st March, 2015 which was at Rs.6,694 Lakhs and value of current assets. It further relies upon future earnings from the ongoing business of BFL. The management considers the balance ‘Exposures’ to be ‘Good’ at the close of the quarter and adequately covered and barring unforeseen circumstances expects full realisability of the same in future.
    • Debts / advances recoverable from Stainless India Limited (SIL), which aggregated Rs.731 Lakhs as at 31st March 2015, has remained at Rs.731 Lakhs as at 30th June 2015. The management relies upon the realization from Land of SIL. The management considers the balance ‘Exposures’ to be ‘Good’ at the close of the year and adequately covered and barring unforeseen circumstances expects full realisability of the same in future.
    • The Company in previous years executed road construction projects in the state of Uttar Pradesh with National Highway Authority of India (NHAI) along with Centrodorstroy (CDS), Russia. The exposure on this account as at 31.03.2015 aggregated Rs.12,680 Lakhs is now at Rs.12,685 Lakhs as at 30.06.2015. The outcome of the Road Construction activity cannot be estimated with certainty at present. The amount of total claims with NHAI now aggregates Rs.22,336 Lakhs (as at 31.03.2015, Rs.22,336 Lakhs). Bulks of these claims are now being processed at various appellate fora. It is the opinion of the management that in view of the substantially large claims to be settled progressively over a period of next 2 to 3 years, losses currently expected are already recognized till the close of the quarter.
  4. The figures of last quarter of previous year were balancing figures between audited figures in respect of full financial year and the published year to date figures upto the third quarter of the previous financial year.
  5. Figures in respect of previous year / quarter have been regrouped / recast wherever necessary.
  6. The above results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 12th August 2015. Statutory Auditors have carried out a “Limited Review” of the financial results shown above.
 
       
 
By Order of the Board of Directors
For Mukand Ltd.,
Niraj Bajaj
Chairman & Managing Director
Rajesh V. Shah
Co-Chairman & Managing Director
Place : Mumbai
Date : 12th August 2015
 
 
       
       
Statement showing Shareholding Pattern (as per Clause 35 of the Listing Agreement)
Table(I)(a)
Name of the Company   MUKAND Ltd.            
BSE Scrip Code : 500460   NSE Scrip Name : MUKANDLtd            
Quarter Ended   June 30, 2015    
 
Category Category of Shareholder No of Total No of Shares Total Shareholding as Shares pledged or
Code   Share- No of held in % age of total shares otherwise encumbered
    holders Shares Dematerialised As a % age As a % age Number of as a
        Form of (A+B) of (A+B+C) shares % age
(I) (II) (III) (IV) (V) (VI) (VII) (VIII) (IX) = (VIII)/(IV)*100
(A) Shareholding of Promoter and promoter Group              
(1) Indian              
(a) Individuals/ Hindu Undivided Family 19 37,320,648 37,320,648 26.39 26.39 17,659,815 47.32
(b) Central Government/ State Government(s)   - -        
(c) Bodies Corporate 18 63,717,305 63,717,305 45.06 45.06 3,881,200 6.09
(d) Financial Institutions/Banks   - -        
(e) Any other (Specify)   - -        
  Sub-Total (A)(1) 37 101,037,953 101,037,953 71.45 71.45 21,541,015 21.32
                 
(2) Foreign              
(a) Individuals Non Resident Individuals/              
  Foreign Individuals - -        
(b) Bodies Corporate   - -        
(c) Institutions   - -        
(d) Qualified Foreign Investor   - -        
(e) Any other (specify)   - -        
  Sub-Total (A)(2)   0 0        
                 
  Total Shareholding of Promoter and Promoter              
  Group (A)=(A)(1) + (A)(2) 37 101,037,953 101,037,953 71.45 71.45 21,541,015 21.32
                 
(B) Public Shareholding              
(1) Institutions              
(a) Mutual Funds/UTI 6 2,125 1,124 0.00 0.00    
(b) Financial Institutions/Banks 39 101,195 97,050 0.07 0.07    
(c) Central Government/ State Government(s)   - -        
(d) Venture Capiral funds   - -        
(e) Insurance Companies 3 7,244,583 7,244,583 5.12 5.12    
(f) Foreign Institutional Investors 10 30,963 0 0.02 0.02    
(g) Foreign Venture Capital Investors   - -        
(h) Qualified Foreign Investor   - -        
(i) Any Other              
  Sub-Total (B)(1) 58 7,378,866 7,342,757 5.22 5.22    
                 
(2) Non-institutions              
(a) Bodies Corporate 584 9,700,346 9,257,483 6.86 6.86    
(b) Individuals              
I (i) Individual shareholders holding              
  nominal share capital up to Rs 1 lakh 41,826 10,312,787 9,342,479 7.29 7.29    
II (ii) Individual shareholders holding              
  nominal share capital in excess              
  of Rs. 1 laks 228 9,640,765 9,470,697 6.82 6.82    
(c) Qualified Foreign Investor 0 0 0 0.00 0.00    
(d) Any other (Specify)              
I Clearing Members 38 58,827 58,827 0.04 0.04    
II NRI's 235 583,262 572,072 0.41 0.41    
III Trusts (Employee Welfare Funds) 2 2,367,014 2,367,014 1.67 1.67    
IV Non Promoter - Non Public Employee Welfare Funds 1 326,041 326,041 0.23 0.23    
  Sub-total (B)(2) 42,914 32,989,042 31,394,613 23.33 23.33    
                 
  Total Public Shareholding              
  (B)=(B)(1) + (B)(2) 42,972 40,367,908 38,737,370 28.55 28.55    
                 
(C) Shares held by custodians and against              
  against which depository receipts              
  have been issued   0 0        
I Promoter & Promoter Group              
II Public              
                 
  GRAND TOTAL (A)+(B)+(C) 43,009 141,405,861 139,775,323 100.00 100.00 21,541,015 15.23
 
Notes:
Mukand Employees' Welfare Funds, Bajaj Electricals Ltd (BEL) Employees' Welfare Funds and Bajaj Holdings and Investment Ltd (BHIL) Employees' Welfare Funds (formerly known as Bajaj Auto Ltd Employees' Welfare Funds) are holding shares in Mukand Ltd. as under :-
 
  No. of shares % to paid-up capital
Mukand Employees Welfare Funds 3,26,041 0.23
BEL Employees Welfare Funds 1,21,422 0.09
BHIL Employees Welfare Funds 22,45,592 1.59
  2,693,055 1.90

The above holdings were classified as Promoters' shareholdings until the Quarter ended 31 December, 2014.
Consequent upon the enactment of SEBI (Share based Employee Benefits) Regulations, 2014,

(a) The holdings of Mukand Employees Welfare Funds are reclassified as 'Non Promoter Non Public Shareholding' with effect from the Quarter ending 31 March, 2015,

(b) The holdings BEL Employees Welfare Funds and BHIL Employees Welfare Funds are reclassified as 'Public Shareholding' with effect from the Quarter ending 31 March, 2015.

Further, as the existing format of shareholding pattern does not have a separate catagory of shareholders as 'Non Promoter & Non Public Shareholding', the shareholding as at (a) above has been disclosed as 'Non Promoter -Non Public Employee Welfare Funds' under 'Any Other' catagory as Non-Institution Public Shareholding.

 
Introductory sub-table (I)(a)
 
Name of the Company: MUKAND LIMITED
Scrip Code, Name of the scrip, class of security: 500460 (BSE), MUKANDLtd (NSE) - ISIN : INE304A01026
Quarter Ended : 30th June, 2015
 
Partly paid-up shares:- No. of partly paid-up shares As a % of total no. of partly paid-up shares As a % of total no. of shares of the company
       
Held by promoter/promoter group 0 0.00 0.00
Held by public 0 0.00 0.00
       
Total 0 0.00 0.00
       
Outstanding convertible securities:- No. of outstanding securities As a % of total no. of outstanding convertible securities As a % of total no. of shares of the company, assuming full conversion of the convertible securities
       
Held by promoter/promoter group 0 0.00 0.00
Held by public 0 0.00 0.00
       
Total 0 0.00 0.00
       
Warrants:- No. of warrants As a % of total no.
of warrants
As a % of total no. of shares of the company, assuming full conversion of warrants
       
Held by promoter/promoter group 0 0.00 0.00
Held by public 0 0.00 0.00
       
Total 0 0.00 0.00
       
Total paid-up capital of the company, assuming full   conversion of warrants and   convertible securities 141405861   100.00
 
(I)(b) Statement showing holding of securities (including shares, warrants, convertible securities) of persons belonging to thecategory “Promoter and Promoter Group”
 
 
Sr. No. Name of the shareholder Details of Shares held Encumbered shares (*) Details of warrants Details of convertible  securities Total shares (including underlying shares assuming full conversion of warrants and convertible securities) as a % of diluted share capital
Number of shares held As a % of grand total (A) +(B) + (C) No. As a percentage As a % of grand total (A)+ (B)+ (C) of sub-clause (I)(a ) Number of  warrants  held As a %  total  number of  warrants  of the  same  class Number of  convertible  securities  held As a %  total  number of  convertible  securities  of the same  class  
(I) (II) (III) (IV) (V) (VI)=(V)/ (III)*100 (VII) (VIII) (IX) (X) (XI) (XII)
1 Shri Rahul Bajaj 712044 0.50 0 0.00 0.00 0 0.00 0 0.00 0.50
2 Shri Niraj Bajaj 11476956 8.12 0 0.00 0.00 0 0.00 0 0.00 8.12
3 Shri Rajesh V Shah 7200842 5.09 5266297 73.13 3.72 0 0.00 0 0.00 5.09
4 Shri Suketu V Shah 7319018 5.18 4462100 60.97 3.16 0 0.00 0 0.00 5.18
5 Shri Sanjivnayan Bajaj 1787 0.00 0 0.00 0.00 0 0.00 0 0.00 0.00
6 Shri Shekhar Bajaj 733000 0.52 0 0.00 0.00 0 0.00 0 0.00 0.52
7 Shri Madhur Bajaj 706200 0.50 0 0.00 0.00 0 0.00 0 0.00 0.50
8 Shri Anant Bajaj 86400 0.06 0 0.00 0.00 0 0.00 0 0.00 0.06
9 Smt Minal Bajaj 192000 0.14 0 0.00 0.00 0 0.00 0 0.00 0.14
10 Smt Sunaina Kejriwal 1363 0.00 0 0.00 0.00 0 0.00 0 0.00 0.00
11 Smt Suman Jain 3744 0.00 0 0.00 0.00 0 0.00 0 0.00 0.00
12 Smt Anjana Viren Shah ( Nee Anjana Munsif ) 30634 0.02 0 0.00 0.00 0 0.00 0 0.00 0.02
13 Shri Narendrakumar J Shah 99605 0.07 0 0.00 0.00 0 0.00 0 0.00 0.07
14 Smt Jyoti Shah 21117 0.01 0 0.00 0.00 0 0.00 0 0.00 0.01
15 Smt Bansri Rajesh Shah 3431542 2.43 3370042 98.21 2.38 0 0.00 0 0.00 2.43
16 Smt Czaee Sukumar Shah 4057212 2.87 3505330 86.40 2.48 0 0.00 0 0.00 2.87
17 Priyaradhika Rajesh Shah 960046 0.68 960046 100.00 0.68 0 0.00 0 0.00 0.68
18 Shri Kaustubh Rajesh Shah 96000 0.07 96000 100.00 0.07 0 0.00 0 0.00 0.07
19 Shri Rishabh Sukumar Vir 191138 0.14 0 0.00 0.00 0 0.00 0 0.00 0.14
20 Akhil Investments & Traders Pvt Ltd 260 0.00 0 0.00 0.00 0 0.00 0 0.00 0.00
21 Bachhraj & Co Pvt Ltd 3350692 2.37 0 0.00 0.00 0 0.00 0 0.00 2.37
22 Bachhraj Factories Pvt Ltd 1378168 0.97 0 0.00 0.00 0 0.00 0 0.00 0.97
23 Bajaj Holdings & Investment Ltd 8113564 5.74 0 0.00 0.00 0 0.00 0 0.00 5.74
24 Bajaj Sevashram Pvt Ltd 2500160 1.77 0 0.00 0.00 0 0.00 0 0.00 1.77
25 Baroda Industries Pvt Ltd 15726616 11.12 0 0.00 0.00 0 0.00 0 0.00 11.12
26 Jamnalal Sons Pvt Ltd 26293322 18.59 0 0.00 0.00 0 0.00 0 0.00 18.59
27 Jeewan Limited 4785369 3.38 3200000 66.87 2.26 0 0.00 0 0.00 3.38
28 Mukand Engineers Ltd 1362400 0.96 681200 50.00 0.48 0 0.00 0 0.00 0.96
29 Niraj Holdings Pvt Ltd 8000 0.01 0 0.00 0.00 0 0.00 0 0.00 0.01
30 Kamalnayan Investment & Trading Pvt Ltd 7000 0.00 0 0.00 0.00 0 0.00 0 0.00 0.00
31 Madhur Securities Pvt Ltd 7000 0.00 0 0.00 0.00 0 0.00 0 0.00 0.00
32 Rahul Securities Pvt Ltd 7000 0.00 0 0.00 0.00 0 0.00 0 0.00 0.00
33 Rupa Equities Private Limited 7000 0.00 0 0.00 0.00 0 0.00 0 0.00 0.00
34 Sanraj Nayan Investments Pvt Ltd 3494 0.00 0 0.00 0.00 0 0.00 0 0.00 0.00
35 Shekhar Holdings Pvt Ltd 7000 0.00 0 0.00 0.00 0 0.00 0 0.00 0.00
36 Sidya Investments Ltd 160000 0.11 0 0.00 0.00 0 0.00 0 0.00 0.11
37 Valiant Investments & Trades Pvt Ltd 260 0.00 0 0.00 0.00 0 0.00 0 0.00 0.00
                       
TOTAL   101037953 71.45 21541015 21.32 15.23 0 0.00 0 0.00 71.45

(*) The term "encumbrance" has the same meaning as assigned to it in regulation 28(3) of the SAST Regulations, 2011

Note: 1. 1,50,000 Shares of Mukand Ltd. acquired by Mr. Suketu V. Shah from Bahar Mercantile Ltd. on 31.3.2015 were credited to its demat account as on 1.4.2015

Note: 2. Mukand Employees' Welfare Funds, Bajaj Electricals Ltd (BEL) Employees' Welfare Funds and Bajaj Holdings and Investment Ltd (BHIL) Employees' Welfare Funds (formerly known as Bajaj Auto Ltd Employees' Welfare Funds) are holding shares in Mukand Ltd as under :-

  No. of shares % to paid-up capital
Mukand Employees Welfare Funds 3,26,041 0.23
BEL Employees Welfare Funds 1,21,422 0.09
BHIL Employees Welfare Funds 22,45,592 1.59
  2,693,055 1.90

The above holdings were classified as Promoters' shareholdings until the Quarter ended 31 December, 2014.
Consequent upon the enactment of SEBI (Share based Employee Benefits) Regulations, 2014,

(a) The holdings of Mukand Employees Welfare Funds are reclassified as 'Non Promoter Non Public Shareholding' with effect from the Quarter ending 31 March, 2015,

(b) The holdings BEL Employees Welfare Funds and BHIL Employees Welfare Funds are reclassified as 'Public Shareholding' with effect from the Quarter ending 31 March, 2015.

Further, as the existing format of shareholding pattern does not have a separate catagory of shareholders as 'Non Promoter & Non Public Shareholding', the shareholding as at (a) above has been disclosed as 'Non Promoter -Non Public Employee Welfare Funds' under 'Any Other' catagory as Non-Institution Public Shareholding.

 
(I)(c)(i) Statement showing holding of securities (including shares, warrants, convertible securities) of persons belonging to thecategory “Public” and holding more than 1% of the total number of shares
 
 
Sr. No. Name of the shareholder Number of shares held Shares as a percentage of total number of shares {i.e., Grand Total (A)+(B)+(C) indicated in Statement at para (I)(a) above} Details of warrants Details of convertible  securities Total shares (including  underlying shares  assuming full  conversion of  warrants and  convertible securities)  as a % of diluted share  capital
Number of  warrants  held As a %  total  number of  warrants of  the same  class Number of  convertible  securities  held % w.r.t total  number of  convertible  securities of  the same  class
1 LIFE INSURANCE CORPORATION OF INDIA 7228076 5.11 0 0.00 0 0.00 5.11
2 SHINANO RETAIL PRIVATE LIMITED 3579056 2.53 0 0.00 0 0.00 2.53
3 RAKESH SAJJAN GUPTA 2120511 1.50 0 0.00 0 0.00 1.50
                0.00
                0.00
TOTAL 12927643 9.14 0 0.00 0 0.00 9.14
 
(I)(c)(ii) Statement showing holding of securities (including shares, warrants, convertible securities) of persons (together withPAC) belonging to the category “Public” and holding more than 5% of the total number of shares of the company
 
 
Sr. No. Name(s) of the  shareholder(s) and  the Persons Acting in  Concert (PAC) with  them Number  of shares Shares as a percentage of  total number of shares  {i.e., Grand Total  (A)+ (B)+ (C) indicated in  Statement at para (I)(a)  above} Details of warrants Details of convertible  securities Total shares  (including  underlying  shares  assuming full  conversion of  warrants and  convertible  securities) as a  % of diluted  share capital
Number of  warrants As a % total  number of  warrants of the  same class Number of  convertible  securities  held % w.r.t  total  number of  convertible  securities  of the same  class
1 LIFE INSURANCE CORPORATION OF INDIA 7228076 5.11 0 0.00 0 0.00 5.11
                 
                 
                 
                 
                 
                 
                 
                 
                 
                 
TOTAL 7228076 5.11 0 0.00 0 0.00 5.11
 
(I)(d) Statement showing details of locked-in shares
Sr. No. Name of the shareholder Number of locked-in shares Locked-in shares as a percentage of total number of shares {i.e., Grand Total (A)+(B)+(C) indicated in Statement at para (I)(a) above}
1 NIL 0 0.00
       
       
       
       
       
       
       
       
       
       
TOTAL 0 0.00
 
(II)(a) Statement showing details of Depository Receipts (DRs)
Sr. No. Type of outstanding DR (ADRs, GDRs, SDRs, etc.) Number of outstanding
DRs
Number of shares underlying outstanding DRs Shares underlying outstanding DRs as a percentage of total number of shares {i.e., Grand Total (A)+(B)+(C) indicated in Statement at para (I)(a) above}
1 NIL NIL 0 0.00
         
         
         
         
         
         
         
         
         
         
TOTAL 0 0 0.00
 
(II)(b) Statement showing holding of Depository Receipts (DRs), where underlying shares held by "promoter/promoter group" are in excess of 1% of the total number of shares
Sr. No. Name of the DR Holder Type of outstanding DR (ADRs, GDRs, SDRs, etc.) Number of shares
underlying outstanding DRs
Shares underlying outstanding DRs as a percentage of total number of shares {i.e., Grand Total (A)+(B)+(C) indicated in Statement at para (I)(a) above}
1 NIL NIL 0 0.00
         
         
         
         
         
         
         
         
         
         
TOTAL   0 0.00
 
(Concept and Content by Krishnan Nair )

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