Join our Whatsapp Community for Daily Price Sheets and News

Hira Ferro Alloys Unlisted Shares

Annual Report: 2021

Year: 2021

Annual Report Summary

The Hira Ferro Alloys Limited Annual Report for FY 2020-21 details the company's performance, operations, and financial status.

Corporate Information: Hira Ferro Alloys Limited, a public company domiciled in India, manufactures ferro alloys and generates electricity. Key personnel include Biswajit Choudhuri (Chairman, Independent Director), Narayan Prasad Agrawal (Managing Director), and CA Dilip Chauhan (Chief Financial Officer). The registered office is in Urla Industrial Area, Raipur, Chhattisgarh, and the corporate office is in Pandri, Raipur.

Financial Performance (Standalone & Consolidated): The company experienced satisfactory performance due to demand in the steel sector and better price realization. Key highlights include:

  • Revenue: Increased to Rs 314.46 Crores from operations (Rs 301.77 Crores in the previous year).
  • EBIDTA: Increased to Rs 33.66 Crores (Rs 15.73 Crores in the previous year).
  • PAT: Increased to Rs. 21.14 Crores (Rs. 83 Crores in the previous year).
  • Net Profit After Tax (NPAT): Rs. 2113.87 Lakhs
  • Ferro Alloys sales increased by 9.66%.
  • Electricity division sales decreased by 10.09%.
  • The company registered a Net Profit after tax growth of 435% (Rs.2049.19 Lakhs versus Rs.382.80 Lakhs).
  • HFAL produced 35304.050 MTs of Ferro Alloys and sold 36513.02 MTs of Ferro Alloys.
  • Generated 158276400 units of power in its Thermal Power Plant, 81247560 units in its Bio-mass Power Plant and 2924697 units of power in its Wind Power.

Dividend: No dividend was recommended for FY 2020-21.

Share Capital: The paid-up Equity Share Capital remained at Rs. 1958.85 Lakhs. 99.21% of shares are dematerialized.

Subsidiaries & Associates:

  • Acquired a 20% equity stake in Xtratrust Digisign Private Limited, making it an associate company. Xtratrust has not started operations.
  • Acquired 100% equity stake in Spring Solar Power Private Limited, making it a wholly-owned subsidiary. Spring Solar has not started operations.

Directors and Key Managerial Personnel:

  • Ms. Bhavna Govindbhai Desai was appointed as an Additional Director (Woman-Independent Non-Executive) effective from 7th August 2020.
  • Mr. Yarra Chandra Rao retired by rotation.
  • Key Managerial Personnel: Narayan Prasad Agrawal (Managing Director), Arvind Dubey (Whole-time Director), Dilip Chouhan (Chief Financial Officer), Mohit Chande (Company Secretary).
  • The CSR Committee was dissolved in view of CSR obligation is less than Rs.50 lakhs for the financial year 2021-22.
  • The Board and all its committees and directors have been evaluated by the Board of the directors in its meeting.

Committees of the Board:

  • Audit Committee: Consists of three directors, including two Independent Directors.
  • Nomination and Remuneration Committee: Consists of three directors, including two Independent Directors.
  • Stakeholders Relationship Committee: Comprises two Independent Directors, one Non-Executive Director, and the Company Secretary.

Auditors:

  • Statutory Auditors: M/s JDS & Co., Chartered Accountants. No qualifications or reservations were noted in their report.
  • Cost Auditors: M/s Sanat Joshi & Associates appointed for FY 2021-22.
  • Internal Auditors: M/s OPS & Co, Chartered Accountants appointed for FY 2020-21 and FY 2021-22.
  • Mrs. Tanveer Kaur Tuteja appointed Secretarial Auditor.

Policies & Compliance:

  • Established 'Whistle Blower Policy'.
  • Related party transactions were on an arm's length basis.
  • The Company has an Anti-Sexual Harassment Policy. No complaints were received.
  • The company is regular in depositing undisputed statutory dues.

Other Highlights:

  • No significant and material orders were passed by regulators or courts impacting the company's going concern status.
  • Foreign Exchange Earnings: Rs. 1124.28 Lakhs, Foreign Exchange Outgo: Rs. 5009.51 Lakhs.
  • Internal financial controls are adequate and effective.

Annexure -1 Secretarial Audit Report: Tanveer Kaur Tuteja reported the company generally complied with the statutory provisions listed.

Financial Statements (Standalone and Consolidated):

The report presents the Standalone and Consolidated financial statements, which include the balance sheet, statement of profit and loss, statement of changes in equity, and cash flow statement, along with notes on financial statements. A detailed listing of assets, liabilities, equity, revenue, expenses, and various financial metrics is provided for the fiscal year 2020-21.

Our Blogs

Our blog provides insightful information about unlisted shares, offering a deeper understanding of how these assets work, their potential benefits, and the risks involved. Whether you're new to unlisted shares or looking to expand your knowledge, we cover topics such as investment strategies, valuation methods, market trends, and regulatory aspects. Stay updated with expert tips and guides to navigate the unlisted share market effectively.

FAQ's

What are unlisted shares?

+

Unlisted shares are stocks of companies that are not listed on any stock exchange, meaning they are not publicly traded. These shares are typically available for trade in the private market through brokers, and can offer unique investment opportunities.

How can I buy unlisted shares?

+

You can buy unlisted shares through a broker or platform that specializes in unlisted share transactions. We provide a secure and easy way to purchase unlisted shares from top companies, ensuring a smooth transaction process.

What is the share price of unlisted companies?

+

The share prices of unlisted companies can fluctuate based on various factors like market demand, company performance, and private transactions. You can check the latest share prices for unlisted companies on our website for real-time updates.

Are unlisted shares a good investment?

+

Unlisted shares can offer higher growth potential, as they are typically not subject to the same market volatility as listed shares. However, they come with higher risk due to limited liquidity and availability of information. It's important to research thoroughly and consult experts before investing.

How can I sell unlisted shares?

+

To sell unlisted shares, you can connect with a broker or platform that facilitates the sale of private stocks. We help investors buy and sell unlisted shares with ease, ensuring that your transaction is handled professionally and securely.

What are the risks of investing in unlisted shares?

+

Yes, unlisted shares can eventually be listed on a stock exchange through an Initial Public Offering (IPO). This process allows the company to offer its shares publicly and be traded on major exchanges, potentially increasing liquidity and visibility.

What is the share price of unlisted companies?

+

Gains from unlisted shares are subject to capital gains tax in India. Short-term capital gains (if held for less than 24 months) are taxed at your applicable income tax rate, while long-term capital gains (if held for more than 24 months) are taxed at 20% with indexation benefits. Always consult a tax advisor for precise tax implications.

How do I know the current value of unlisted shares?

+

The value of unlisted shares is typically determined by private transactions, financial reports, and market demand. We provide the latest updates on share prices of unlisted companies, giving you the most accurate valuation available.

Is there a minimum investment amount for unlisted shares?

+

The minimum investment for unlisted shares can vary depending on the company and broker. Generally, the minimum investment is higher than for listed stocks, but we provide detailed information to help you make the best investment decisions.

Can I get a dividend from unlisted shares?

+

Yes, unlisted shares may pay dividends if the company has declared them. However, since these companies may be in their growth stage, dividend payments are not always guaranteed. It's important to check the company's financial health before investing.

How do I know which unlisted shares are worth investing in?

+

It's important to conduct thorough research on the company's financials, management, market potential, and overall business model. You can also seek professional advice from experts to help you choose unlisted shares with strong growth prospects.

Are unlisted shares taxed?

+

Gains from unlisted shares are subject to capital gains tax in India. Short-term capital gains (if held for less than 24 months) are taxed at your applicable income tax rate, while long-term capital gains (if held for more than 24 months) are taxed at 20% with indexation benefits. Always consult a tax advisor for precise tax implications.

WhatsAppContact Us