MIRA
INFORM REPORT
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Report Date : |
04.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
CONCEPT PHARMACEUTICALS LIMITED
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Registered Office : |
167,CST Road, Kalina, Santacruz (East), Mumbai - 400 0098, Maharashtra |
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Country : |
India |
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Financials (as on) : |
30.09.2005 |
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Date of Incorporation : |
20.03.1979 |
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Com. Reg. No.: |
11-21126 |
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CIN No.: [Company
Identification No.] |
U24239MH1979PTC021126 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMC00430D / MUMC11472G |
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Legal
Form : |
It is a closely held public limited liability company. |
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Line of Business : |
The company is engaged in manufacturing of bulk drugs, tablets, capsules, liquids, injections, creams powder and allopathic pharmaceutical preparations. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
USD 1688844 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having satisfactory track records. Directors are reported as experiences and respectable business. Trade relations are reported as fair. Business is active .Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Ms. Neha Joshi |
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Designation : |
Sales Officer |
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Date : |
20.03.2008 |
LOCATIONS
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Registered Office / Head Office : |
167, CST Road , Kalian , Santacruz (East ), Mumbai -400098
Maharashtra, India |
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Tel. No.: |
91-22- 26528888/ 89 |
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Fax No.: |
91-22- 26525800/ 01/ 26100160/ 26144835 |
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E-Mail : |
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Website : |
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Location : |
Leased |
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Factory : |
28/3, MIDC, Chikalthana, Aurangabad, Maharashtra, India |
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Depots : |
Located At :
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DIRECTORS
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Name : |
Mr. Adhyatma Bandhu Pyarelal
Gupta |
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Designation : |
Chairman Cum Managing Director |
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Address : |
69 Hatkesh Co.Op. Hsg Society JVPD Scheme, Vile Parle, Mumbai - 400049 |
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Date of Birth/Age : |
10/12/1946 |
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Date of Appointment : |
27/12/1984 |
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Name : |
Mrs. Rekha Adhyatma Bandhu Gupta |
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Designation : |
Whole Time Director , S –secretary , R – Manager |
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Address : |
69 Hatkesh Co.Op. HSG Society JVPD Schene Mumbai 400049 |
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Date of Birth/Age : |
16/06/1954 |
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Date of Appointment : |
07/07/1986 |
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Name : |
Mr. Prakash Ved Kumar |
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Designation : |
Director , M Mamaging Director |
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Address : |
M 229 Gremater Kailash II New
Delhi 110048 |
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Date of Birth/Age : |
03/03/1929 |
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Date of Appointment : |
29/09/1995 |
KEY EXECUTIVES
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Name : |
Mr. C. V. Venugopal |
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Designation : |
DGM – Finance |
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Email : |
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Name : |
Ms. Neha Joshi |
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Designation : |
Sales Officer |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(AS ON 31.03.2005)
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Names of Shareholders |
No. of Shares |
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AdhyatmaBandhu Pyarelal Gupta |
1440 |
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Rekha Adhyatma bandhu Gupta |
2160 |
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Sangeet Gupta |
4320 |
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Sanjana Holding Private Limited |
1620000 |
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Globe Trotters Private Limited |
1710000 |
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Karla Investment and Trading Company Private Limited |
1620000 |
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Rekha Family Trust |
108720 |
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Adhyatma Investments Private Limited |
1620000 |
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Concept Laboratories Private Limited |
513360 |
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A. B. Gupta Jointly with R. A. Gupta |
4800000 |
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Total |
12000000 |
(AS ON 31.03.2007)
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Category |
Percentage |
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Bodies corporate |
59.00 |
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Directors or relatives of directors |
41.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
The company is engaged in manufacturing of bulk drugs, tablets, capsules, liquids, injections, creams powder and allopathic pharmaceutical preparations. |
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Products : |
The Generic Names of the Principal Products of the Company are as under :
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Export : |
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Countries : |
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GENERAL
INFORMATION
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No. of Employees : |
800 |
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Bankers : |
IDBI Towerwtc Complex , Cuffe Parade , Mumbai 400005 Maharastra , India
Consortium, Industrial Finance Branch, Adi Marzban Path, Ballard Estate, Mumbai – 400038, Maharashtra, India
Kalina Kurla Road, Arvind Nagar, Santacruz (East) Mumbai 400029, India
Branches Control Department, Uttam House, 5th floor, 69, P. D. Mello Road, Mumbai – 400009, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
S. S. Kapoor and Company Chartered Accountants |
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Address : |
157-161, Princess Street, Mumbai - 400 002, Maharashtra, India |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
(AS ON 31.03.2007)
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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16000000 |
Equity Shares |
Rs.10/- each |
Rs.160.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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12000000 |
Equity Shares |
Rs. 10 /- each |
Rs.120.000 millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
30.09.2005 |
30.09.2004 |
30.09.2003 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
120.000 |
120.000 |
30.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
302.211 |
293.793 |
206.40 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
422.211 |
413.793 |
236.400 |
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LOAN FUNDS |
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1] Secured Loans |
187.990 |
167.455 |
164.70 |
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2] Unsecured Loans |
53.560 |
59.739 |
60.900 |
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TOTAL BORROWING |
241.550 |
227.194 |
225.600 |
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DEFERRED TAX LIABILITIES |
17.058 |
5.776 |
0.000 |
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TOTAL |
680.765 |
646.763 |
462.000 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
163.641 |
171.476 |
112.700 |
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Capital work-in-progress |
84.508 |
59.908 |
0.000 |
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INVESTMENT |
15.244 |
16.618 |
18.500 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
190.257
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184.578
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151.800 |
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Sundry Debtors |
278.114
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282.253
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265.700 |
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Cash & Bank Balances |
19.513
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15.220
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30.200 |
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Other Current Assets |
0.000
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0.000
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0.000 |
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Loans & Advances |
55.590
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63.910
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51.400 |
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Total
Current Assets |
543.474
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545.961 |
499.100 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
111.365
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134.670
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160.500 |
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Provisions |
14.737
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12.530
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07.800 |
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Total
Current Liabilities |
126.102
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147.200 |
168.300 |
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Net Current Assets |
417.372
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398.761 |
330.800 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
680.765 |
646.763 |
462.000 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.09.2005 |
30.09.20004 |
30.09.2003 |
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Sales Turnover |
782.276 |
875.632 |
884.200 |
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Other Income |
0.000 |
0.000 |
33.000 |
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Total Income |
782.276 |
875.632 |
917.200 |
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Profit/(Loss) Before Tax |
39.109 |
50.097 |
42.000 |
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Provision for Taxation |
0.000 |
0.000 |
06.000 |
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Profit/(Loss) After Tax |
39.109 |
50.097 |
36.000 |
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Expenditures : |
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Manufacturing Expenses |
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38.600 |
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Administrative Expenses |
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590.130 |
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Raw Material Consumed |
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46.570 |
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Salaries, Wages, Bonus, etc. |
743.167 |
825.535 |
70.500 |
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Interest |
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15.300 |
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Power & Fuel |
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06.800 |
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Depreciation & Amortization |
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46.900 |
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Other Expenditure |
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60.400 |
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Total Expenditure |
743.167 |
825.535 |
875.200 |
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KEY RATIOS
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PARTICULARS |
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30.09.2005 |
30.09.2004 |
30.09.2003 |
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PAT / Total
Income |
(%) |
4.99
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5.72 |
3.92 |
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Net Profit Margin (PBT/Sales) |
(%) |
4.99
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5.72 |
4.75 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
5.53
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6.98 |
6.86 |
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Return on Investment (ROI) (PBT/Networth) |
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0.09
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0.12 |
0.18 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.87
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0.90 |
1.67 |
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Current Ratio (Current Asset/Current Liability) |
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4.31
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3.71 |
2.97 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
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Name of the company |
CONCEPT PHARMACEUTICALS LIMITED |
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Presented
By |
Mr.
A. B. Gupta |
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1) Date and description of instrument creating the change |
Hypothecation of tangible Moveable Property
dated 14th June 1994 Agreement for Loan dated 14.06.1994 Both constitute a single charge. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 0.603 Million |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of one Tata Estate car one Premier 118NE and two Motor Cycle |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Margin 25 % Repayable in 36 monthly installments of Rs. 0.017 Millions Interest chargeable at 17 % p.a. |
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5) Name and Address and description of the person entitled to the charge. |
Bombay Mercantile Co-operative Bank Limited, Branches Control Department, Uttam House, 5th floor, 69, P. D. Mello Road, Mumbai – 400009 |
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6) Date and brief description of instrument modifying the charge |
N.A. |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
N.A. |
FIXED ASSETS
- Leasehold Land
- Freehold Land
- Factory Building
- Residential Building
- Plant, Machinery and Equipments
- Furniture, Fixtures and Fittings
- Vehicles
- Computers
AS PER WEBSITE
Profile
Subject was launched as an independent entity in 1984 by Shri A. B.
Gupta who had earlier experience as founder director of Lupin Group of
Companies.
Initially launched as a marketing company it has expanded its activities
to emerge as a strong multi-divisional group with excellent infrastructure. Its
activities include:
Ethical Pharmaceutical : Covers around 60% of all the therapeutic
groups has launched a number of innovative products.
Animal Health Division : Is one of the top 10 domestic
companies in this area.
APIs Division : Infrastructure and knowledge base in
manufacturing sterile and non sterile products.
Herbal Division: Innovative herbal products to treat lifestyle
conditions.
Institution and hospital division : Caters to the needs of
large public institutions as well as private hospitals.
Medical electronics : Handling range of critical care products
such as Cardiac Monitors, Treadmills, Oximeters etc.
These activities are supported through the strong infrastructure such as
5 manufacturing plants confirming to global GMP standards, 19 branch offices
cum distribution centres, 550 strong field force in marketing covering throughout
India. Concept covers around 60,000 doctors and 10,000 veterinarians
every month throughout the country. Distribution is supported through 3000
stockists catering to over 40,000 retailers thereby giving depth to penetrate
the market.
In addition the company is putting lot of thrust towards R&D efforts
and has successfully launched few technologies, first time in the country
through its own government approved R&D centres.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets `re seized, blocked, frozen or
ordered forfeited for violation of money laundering or international anti-terrorism
laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.95 |
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UK Pound |
1 |
Rs.79.41 |
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Euro |
1 |
Rs.62.49 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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PAID-UP CAPITAL |
1~10 |
7 |
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OPERATING SCALE |
1~10 |
7 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
8 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
7 |
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--LEVERAGE |
1~10 |
7 |
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--RESERVES |
1~10 |
7 |
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--CREDIT LINES |
1~10 |
7 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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63 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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