MIRA
INFORM REPORT
|
Report Date : |
06.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
PROPHYLA BIOLOGICALS PRIVATE LIMITED
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Registered Office : |
157, Modi Street, Fort, Mumbai – 400001, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 [Provisional] |
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Date of Incorporation : |
25.11.1978 |
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Com. Reg. No.: |
11-20792 |
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CIN No.: [Company
Identification No.] |
U24234MH1978PTC020792 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMP18048C |
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PAN No.: [Permanent
Account No.] |
AAACP2637D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Pharmaceuticals Products |
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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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 fine track.
Directors are reported as experienced, respectable and having experienced,
respectable and having satisfactory means of their own. Their trade relations
are fair. Business is active. Payments are reported to be usually made as per
commitments. The company can be considered good for any normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Ahmer Khan |
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Designation : |
Director |
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Contact No.: |
91-9321028123 |
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Date : |
05.06.2008 |
LOCATIONS
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Registered Office : |
157, Modi Street, Fort, Mumbai – 400001, Maharashtra, India |
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Tel. No.: |
91-22-22622915 – 17 / 26682796 / 2615918 / 6670 |
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Mobile No.: |
91-9321028191 |
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Fax No.: |
91-22-22622918 / 2622801 |
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E-Mail : |
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Area : |
1200 sq. ft. [Rented – Rent Rs. 2100/- Per Month] |
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Factory 1 : |
W-91 [D] and W-92 [D] and W-93 [D] MIDC Industrial Area, Taloja,
District Raigad – 410208 |
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Tel. No.: |
91-22-27411837 / 27402223 / 24 |
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Fax No.: |
91-22-27411837 / 27402223 / 24 |
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E-Mail : |
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Area : |
Owned |
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Factory 2 : |
Gat No. 123, Pirangut, Taluka Mulshi, Pune – 411004 |
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Tel. No.: |
91-20-22922164 / 22922424 / 744 |
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Fax No.: |
91-20-22922164 |
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E-Mail : |
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Area : |
Owned |
DIRECTORS
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Name : |
Mr. Munavar Hussein Khan |
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Designation : |
Director |
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Address : |
Rose Minor, Flat No. 9, Chapel Road, Bandra [West], Mumbai – 400050 |
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Date of Birth/Age : |
59 Years |
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Qualification : |
BSC |
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Date of Appointment : |
30.09.1982 |
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Name : |
Mr. Ahmer Khan |
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Designation : |
Director |
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Address : |
Rose Minor, Flat No. 9, Chapel Road, Bandra [West], Mumbai – 400050 |
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Date of Birth/Age : |
31 Years |
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Qualification : |
MBA |
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Date of Appointment : |
25.04.1982 |
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Name : |
Mr. S. B. Sinde |
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Designation : |
Director |
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Address : |
503, Hemal Co-operative Housing Society, Andheri – 400053 |
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Date of Birth/Age : |
56 Years |
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Qualification : |
MBA |
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Name : |
Mr. Rafina Munavar Khan |
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Designation : |
Additional Director |
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Address : |
Rose Minor, Flat No. 9, Chapel Road, Bandra [West], Mumbai – 400050 |
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Date of Appointment : |
21.12.1987 |
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Name : |
Mr. Bhavaghthu Raghupam Shetty |
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Designation : |
Additional Director |
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Address : |
New Medical Centre, P. O. Box No. 6222, Sheikh Zayed Street, Abu Dhabi
[UAE] |
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Name : |
Mr. Dayanand Madhavrao Jadhav |
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Designation : |
Director |
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Address : |
Madhav 2075/2, 6th Lane, Dhulia – 424001 |
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Date of Appointment : |
30.04.1979 |
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Name : |
Mr. Andul Zahar Khan |
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Designation : |
Additional Director |
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Address : |
Rose Minor, Flat No. 9, Chapel Road, Bandra [West], Mumbai – 400050 |
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Date of Appointment : |
11.07.1987 |
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Name : |
Mohammad Rafique Paloba |
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Designation : |
Director |
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Address : |
Venus II, Flat No. 203, Versova Cross Road, four Bungalow, Andheri
[West], Mumbai – 400056 |
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Date of Appointment : |
23.01.1987 |
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Name : |
Mr. H. R. Choudhari |
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Designation : |
Additional Director |
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Address : |
18, Jai Hind Colony, Deopur, Dhule – 424002 |
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Name : |
Mr. Badrul Amin |
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Designation : |
Additional Director |
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Address : |
Solco Basle Limited, Postal Code 114, Muttrah, Sultanate of Oman |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.09.2003
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Names of Shareholders |
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No. of Shares |
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M. H. Khan |
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28524 |
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R. Munavar Khan |
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23113 |
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A. Attoti |
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20000 |
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Badrul Amin |
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25570 |
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Marrium Khan |
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6960 |
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Madhukar Purushottam Gokhale |
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7306 |
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Ahmer Khan |
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8780 |
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Khurram Khan |
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9290 |
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Shamim Abdul Rauf |
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2000 |
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Akila Pathan |
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2800 |
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Mubariz Paloba |
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2900 |
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Zahid Ali Kapade |
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1000 |
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Yaman Pathan |
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1500 |
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Shagufta Chorge |
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1250 |
AS ON 30.09.2007
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Pharmaceuticals Products |
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Products : |
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Brand Name : |
"SMYLE" |
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Exports of : |
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Terms : |
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Selling : |
Credit [90 days] |
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Purchasing : |
Credit [60 days] |
PRODUCTION STATUS
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Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Liquid |
Bottles |
25000000 |
17580000 |
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Tablets |
Nos. |
-- |
3283000 |
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Lozenges |
Tons. |
150 |
194 |
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Ointment |
|
20000 kgs |
Units 1203000 |
GENERAL
INFORMATION
|
Suppliers : |
·
Aditya Agency ·
Alankar Furniture ·
B. M. T. Industrial Machines Limited ·
Bunts Packaging Private Limited ·
Charuhas Limay – Computer ·
Contech Instrument Company ·
Leamark Healthcare Private Limited ·
Megatrade Exports Private Limited ·
Mudrika Labels Private Limited ·
M. L. Shah and Sons ·
Marudhar Converters ·
New Sainath Construction ·
Naafi Consultants ·
Pritviraj Surat ·
Saroj Press Private Limited ·
Thermax Limited |
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Customers : |
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No. of Employees : |
150 [In Office : 20; In Factory : 130] |
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Bankers : |
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Facilities : |
From Corporation Bank
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
M. K. Mehta and
Company Chartered Accountants 22, V. C. Vanik Niwas, Gurukul Lane, Tilak Road, Ghatkopar [East],
Mumbai - 400077 J. H. Ghumara
and Company Chartered Accountants B / 14, Jessika Natakwala Lane, S. V. Road, Borivali [West], Mumbai –
400092, Maharashtra, India Shah Shah and
Shah Chartered Accountants 502, Damji Shamji, Trade Centre, Vidyavihar, Mumbai – 400086,
Maharashtra Tel. No.: 91-22-25100861 |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs. 100/- each |
Rs. 30.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs. 100/- each |
Rs. 30.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 [Provisional] |
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
30.000 |
30.000 |
28.275 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
20.642 |
16.937 |
13.832 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
50.642 |
46.937 |
42.107 |
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LOAN FUNDS |
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1] Secured Loans |
37.405 |
37.798 |
28.696 |
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2] Unsecured Loans |
10.912 |
11.602 |
11.954 |
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TOTAL BORROWING |
48.317 |
49.400 |
40.650 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
98.959 |
96.337 |
82.757 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
43.185 |
45.509 |
42.614 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.249 |
0.169 |
0.088 |
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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 |
26.155
|
19.447 |
14.352 |
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Sundry Debtors |
27.590
|
37.665 |
33.611 |
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Cash & Bank Balances |
0.507
|
0.483 |
0.107 |
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Other Current Assets |
0.000
|
3.794 |
3.216 |
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Loans & Advances |
12.895
|
6.807 |
5.348 |
|
Total
Current Assets |
67.147
|
68.196 |
56.634 |
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
17.732
|
26.449 |
25.491 |
|
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Provisions |
2.888
|
0.000 |
0.000 |
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Total
Current Liabilities |
20.620
|
26.449 |
25.491 |
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Net Current Assets |
46.527
|
41.747 |
31.143 |
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MISCELLANEOUS EXPENSES |
8.998 |
8.912 |
8.912 |
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TOTAL |
98.959 |
96.337 |
82.757 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2008 [Provisional] |
31.03.2007 |
31.03.2006 |
|
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Sales Turnover |
205.411 |
135.360 |
94.552 |
|
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Other Income |
0.417 |
3.091 |
2.566 |
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Total Income |
205.828 |
138.451 |
97.118 |
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Profit/(Loss) Before Tax |
4.205 |
3.279 |
2.353 |
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Provision for Taxation |
0.500 |
0.175 |
0.150 |
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Profit/(Loss) After Tax |
3.705 |
3.104 |
2.203 |
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Earnings in Foreign Currency : |
6.421 |
14.596 |
NA |
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Expenditures : |
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Raw and Packaging Material Consumed |
182.386 |
91.503 |
58.414 |
|
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Manufacturing Expenses |
0.000 |
25.211 |
21.307 |
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Administration, Selling and Other Expenses |
7.652 |
8.872 |
7.733 |
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Director’s Remuneration and Expenses |
0.000 |
0.795 |
0.771 |
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Auditors Remuneration and Expenses |
0.000 |
0.018 |
0.087 |
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Interest and Other Charges |
6.290 |
5.162 |
2.550 |
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Depreciation |
5.295 |
3.610 |
3.904 |
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Total Expenditure |
201.623 |
135.171 |
94.766 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2008 [Provisional] |
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
1.80
|
2.24 |
2.27 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.05
|
2.42 |
2.49 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.81
|
2.88 |
2.37 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.07 |
0.06 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.36
|
1.62 |
1.57 |
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Current Ratio (Current Asset/Current Liability) |
|
3.26
|
2.58 |
2.22 |
LOCAL AGENCY FURTHER
INFORMATION
GENERAL OBSERVATION
|
Reference |
Sunrise Containers Limited |
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Name of the Person |
Mr. Hemant |
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Contact Number |
91-22-26861701 |
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Since How Long Known |
7- 8 Years |
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Experience |
Quite Good – A Grade customers Payments are
made in time |
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Maximum Limit Dealt |
Current outstanding it worth around Rs.
6.000 Millions |
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Reference |
Avon Flavours |
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Name of the Person |
Mr. Satoskar |
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Contact Number |
91-9821071474 |
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Since How Long Known |
4-5 Years |
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Experience |
Satisfactory – payments are made in time |
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Maximum Limit Dealt |
Rs. 0.200 Million per months |
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Reference |
Government Opium and Alkaloid Works |
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Name of the Person |
Mr. Rawal |
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Contact Number |
91-742-3200463 |
DETAILS OF FIXED ASSETS
Land and Building Rs. 22.773 Millions W.D.V.
Plant and Machinery Rs. 17.212 Millions W.D.V.
Furniture and Fixture Rs. 1.175 Millions W.D.V.
Other Assts Rs.
2.025 Millions W.D.V.
FINANCIAL ANALYSIS
|
Last Available financial statement |
31.03.2007 [Audited] |
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Recent summary financials |
31.03.2008 [Provisional] |
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Advance Taxes Paid |
0.500 Million |
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Change in borrowings |
[Rs. 0.254 Million] |
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Debtors Position [At last month end April specify amount > 90 days] |
Total Rs. 59.500 Millions > 90 days RS. 15.000 Millions |
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Creditors Position [At last month end April specify all suppliers not paid for more than
90 days] |
Total Rs. 15.500 Millions Rs. 2.300 Millions |
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Stock Position [at last month end] |
Rs. 23.609 Millions |
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Drawing Power |
Rs. 32.839 Millions |
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Whether the critical ratios conforms to the bench mark stipulation All the Ratio conforms to the Bench Mark stipulation |
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STATEMENT OF ASSETS AND LIABILITIES
Mr. Munovar Husain Khan
Annual Income
|
Source |
Annual Income
[Rs in Millions] |
|
Salary |
0.336 |
Details of Assets owned
Investment in Business Capital
|
Name of the company / firm / concern in which investment is made |
Amount [Rs in Millions] |
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|
PROPHYLA BIOLOGICALS PRIVATE LIMITED
|
3.250 |
|
Name of the Bank |
Nature of Deposits held |
Amount [Rs in Millions] |
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|
|
HDFC Bank |
Saving |
0.035 |
Government Securities / National Savings Certificates / Shares of Listed
companies
|
Description of Security |
Face Value [Rs in Millions] |
Market Vale [Rs in Millions] |
|
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|
PPF |
0.519 |
0.519 |
Net Worth : Rs. 3.804 Millions
Mr. Ahmer Talat Khan
Annual Income
|
Source |
Annual Income
[Rs in Millions] |
|
Salary |
0.348 |
Details of Assets owned
Investment in Business Capital
|
Name of the company / firm / concern in which investment is made |
Amount [Rs in
Millions] |
|
|
|
|
PROPHYLA BIOLOGICALS PRIVATE LIMITED
|
1.878 |
|
Name of the Bank |
Nature of
Deposits held |
Amount [Rs in
Millions] |
|
|
|
|
|
Corporation Bank |
Saving |
0.113 |
Government Securities / National Savings Certificates / Shares of Listed
companies
|
Description of Security |
Face Value [Rs in Millions] |
Market Vale [Rs in Millions] |
|
|
|
|
|
PPF |
0.344 |
0.344 |
Net Worth : Rs. 2.335 Millions
Mr. Shashikant Shinde Babanrao
Annual Income
|
Source |
Annual Income
[Rs in Millions] |
|
Salary |
0.236 |
Details of Assets owned
Investment in Business Capital
|
Name of the company / firm / concern in which investment is made |
Amount [Rs in
Millions] |
|
|
|
|
PROPHYLA BIOLOGICALS PRIVATE LIMITED
|
0.055 |
|
Name of the Bank |
Nature of
Deposits held |
Amount [Rs in
Millions] |
|
|
|
|
|
IDBI Bank |
Saving |
0.150 |
Immovable Properties
|
Name of the owner |
Description of property |
|
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|
|
Mr. Shashikant B. Shinde |
Residential Flat |
Present market value as on March 2008 : Rs. 3.000 Millions
Net Worth : Rs. 3.205 Millions
ASSESSMENT OF
WORKING CAPITAL REQUIREMENTS
OPERATING
STATEMENT
[Rs in Millions]
|
Particulars |
Projected [31st
March Year ending] |
||||||
|
|
2009 |
2010 |
2011 |
2012 |
2013 |
2014 |
2015 |
|
1. Gross Sales |
|
|
|
|
|
|
|
|
[i] Domestic Sales and Job work Charges |
252.011 |
277.212 |
304.933 |
335.426 |
368.969 |
405.866 |
446.453 |
|
[ii] Export Sales |
9.727 |
10.700 |
11.770 |
12.947 |
14.242 |
15.666 |
17.233 |
|
Total |
261.738 |
287.912 |
316.703 |
348.373 |
383.211 |
421.532 |
463.686 |
|
2. Less : Excise duty and ST |
39.466 |
43.413 |
47.754 |
52.529 |
57.782 |
63.560 |
69.916 |
|
3. Net Sales [1-2] |
222.272 |
244.499 |
268.949 |
295.844 |
325.429 |
357.972 |
393.770 |
|
4. % rise / fall in net sales Y-O-Y |
8.21 |
10.00 |
10.00 |
10.00 |
10.00 |
10.00 |
10.00 |
|
5. Cost of Sales |
|
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[i] Raw materials [Including stores and
other items] |
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[a] Imported |
|
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|
|
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[b] Indigenous |
103.500 |
120.681 |
131.422 |
143.119 |
155.699 |
169.385 |
185.392 |
|
[ii] Other Consumables |
|
|
|
|
|
|
|
|
[a] Chemicals / Stores / Packing Mat. |
45.848 |
49.928 |
54.536 |
59.570 |
65.068 |
71.074 |
77.634 |
|
[iii] Power and Fuel |
7.418 |
8.323 |
9.338 |
10.477 |
11.755 |
13.189 |
14.798 |
|
[iv] Direct Labour |
30.795 |
26.876 |
30.703 |
35.075 |
40.070 |
45.776 |
51.361 |
|
[v] Other Mfg. exps. [Including repairs and
maint.] |
4.952 |
4.366 |
5.037 |
5.808 |
6.700 |
7.729 |
8.672 |
|
[vi] Depreciation |
7.984 |
7.050 |
6.387 |
5.807 |
5.443 |
5.119 |
4.834 |
|
[vii] SUB – TOTAL [I to iv] |
200.497 |
217.224 |
237.423 |
259.856 |
284.735 |
312.272 |
342.691 |
|
[viii] Add : Opening SIP |
3.458 |
1.686 |
1.809 |
1.977 |
2.164 |
2.371 |
2.600 |
|
Sub – Total |
203.955 |
218.910 |
239.232 |
261.833 |
286.899 |
314.643 |
345.291 |
|
[ix] Deduct : Closing SIP |
1.686 |
1.809 |
1.977 |
2.164 |
2.371 |
2.600 |
2.854 |
|
[x] COST OF PRODUCTION |
202.269 |
217.101 |
237.255 |
259.669 |
284.528 |
312.043 |
342.437 |
|
[xi] Add : Open. Fin. Goods stock |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
Sub-Total |
202.269 |
217.101 |
237.255 |
259.669 |
284.528 |
312.043 |
342.437 |
|
[xii] Deduct : C/o Fin. Goods stock |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
[xiii] Sub-total [Cost of Sales] |
202.269 |
217.101 |
237.255 |
259.669 |
284.528 |
312.043 |
342.437 |
|
Gross Profit [3-5] |
20.003 |
27.398 |
31.694 |
36.175 |
40.901 |
45.929 |
51.333 |
|
|
|
|
|
|
|
|
|
|
6. Selling Gen. and Admin. Exps. |
9.587 |
12.655 |
14.199 |
15.931 |
17.875 |
20.646 |
23.165 |
|
7. SUB TOTAL [5+6] |
211.856 |
229.756 |
251.454 |
275.600 |
302.403 |
332.689 |
365.602 |
|
8. Oper. Profit Before Interest [3-7] |
10.416 |
14.743 |
17.495 |
20.244 |
23.026 |
25.283 |
28.168 |
|
9. Interest [net] |
7.091 |
9.313 |
8.591 |
7.800 |
7.044 |
6.288 |
5.678 |
|
10. Operating profit after interest [8-9] |
3.325 |
5.430 |
8.904 |
12.444 |
15.982 |
18.995 |
22.490 |
|
11. [i] Add other non-oper. Income |
|
|
|
|
|
|
|
|
[a] Misc. / ST set – off Insurance etc. |
1.483 |
1.582 |
1.266 |
1.013 |
0.810 |
0.648 |
0.648 |
|
[b] Interest / Dividend Interest
capitalised, etc |
1.261 |
-- |
-- |
-- |
-- |
-- |
-- |
|
Sub total [Income] |
2.744 |
1.582 |
1.266 |
1.013 |
0.810 |
0.648 |
0.648 |
|
[ii] Deduct other non-oper. Exps. |
|
|
|
|
|
|
|
|
[a] Amortisation |
0.891 |
1.143 |
1.143 |
1.143 |
1.143 |
1.143 |
0.891 |
|
[b] Others / Directors Remuneration |
0.900 |
0.900 |
0.900 |
0.900 |
0.900 |
0.900 |
0.900 |
|
Sub – Total [Expenses] |
1.791 |
2.043 |
2.043 |
2.043 |
2.043 |
2.043 |
1.791 |
|
[iii] net other non –operating Income |
0.953 |
[0.461] |
[0.777] |
[1.030] |
[1.233] |
[1.395] |
[1.143] |
|
12.Profit Before Tax / Loss [10 + 11 [iii]] |
4.278 |
4.969 |
8.127 |
11.414 |
14.749 |
17.600 |
21.347 |
|
13. Provision for taxes |
0.642 |
0.745 |
1.219 |
1.712 |
2.212 |
2.640 |
3.202 |
|
[of which defd. Tax is] |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
14. Net Profit / Loss [12-13] |
3.636 |
4.224 |
6.908 |
9.702 |
12.537 |
14.960 |
18.145 |
|
15. [a] Equity Div. Paid / Withdrawals |
|
|
|
1.625 |
1.625 |
3.250 |
3.250 |
|
[b] Pref. Div. prior period adj. etc. |
|
|
|
|
|
|
|
|
[c] Dividend Rate |
|
|
|
0.500 |
0.500 |
1.000 |
1.000 |
|
16. Retained profit [14-15] |
3.636 |
4.224 |
6.908 |
8.077 |
10.912 |
11.710 |
14.895 |
|
17. Retained Profit / Net Profit [%] |
100.00 |
100.00 |
100.00 |
83.25 |
87.04 |
78.28 |
82.09 |
|
GP [as % of Net Sales] |
9.00 |
11.21 |
11.78 |
12.23 |
12.57 |
12.83 |
13.04 |
|
PBT
[as % of Net Sales] |
1.92 |
2.03 |
3.02 |
3.86 |
4.53 |
4.92 |
5.42 |
|
GP [before depreciation] % |
12.59 |
14.09 |
14.16 |
14.19 |
14.24 |
14.26 |
14.26 |
|
PBT [before depreciation] % |
5.52 |
4.92 |
5.40 |
5.82 |
6.20 |
6.35 |
6.65 |
|
Cash Profit [in Rs. In Millions] |
11.250 |
12.417 |
14.438 |
16.652 |
19.123 |
21.222 |
23.870 |
|
PAT
[as % of Net Sales] |
1.64 |
1.73 |
2.57 |
3.28 |
3.85 |
4.18 |
4.61 |
|
Cash Profit / Net Sales [%] |
5.06 |
5.08 |
5.37 |
5.63 |
5.88 |
5.93 |
6.06 |
|
Interest outgo [net] |
7.091 |
9.313 |
8.591 |
7.800 |
7.044 |
6.288 |
5.678 |
|
Includes |
|
|
|
|
|
|
|
|
Interest on Term Loan/s |
2.216 |
4.063 |
2.966 |
2.175 |
1.419 |
0.663 |
0.053 |
ANALYSIS
OF BALANCE SHEET
Rs. In Millions
|
Particulars |
Projected [31st
March Year ending] |
||||||
|
|
2009 |
2010 |
2011 |
2012 |
2013 |
2014 |
2015 |
|
CURRENT LIABILITIES |
|
|
|
|
|
|
|
|
01 Short – Term borrowings from
banks [including bill purchased, discounted and excess borrowings placed on
repayment basis] |
|
|
|
|
|
|
|
|
I] From Application Bank –
Corporation Bank |
32.500 |
35.000 |
37.500 |
37.500 |
37.500 |
37.500 |
37.500 |
|
|
|
|
|
|
|
|
|
|
Sub Total [A] |
32.500 |
35.000 |
37.500 |
37.500 |
37.500 |
37.500 |
37.500 |
|
|
|
|
|
|
|
|
|
|
02 Short Term Borrowings from
others |
|
|
|
|
|
|
|
|
03 Sundry creditors [Trade] |
20.626 |
24.521 |
26.619 |
29.014 |
31.600 |
34.418 |
37.663 |
|
04 Advance payments from
customers / Deposits from dealers |
|
|
|
|
|
|
|
|
05 Provision for tax [net of Tax
paid] |
|
|
|
|
|
|
|
|
06 Dividend and Dividend Tax
payable |
|
|
|
|
|
|
|
|
07 other statutory liabilities
[due within one year] |
3.906 |
3.711 |
3.340 |
3.006 |
2.705 |
2.435 |
2.192 |
|
08 Deposits / Installments of term
loans / DPGs / debentures, etc [due within one year] |
7.380 |
6.408 |
5.400 |
5.400 |
5.400 |
1.800 |
-- |
|
09 Other current liabilities and
provisions [due within one year] |
2.801 |
1.961 |
1.863 |
1.770 |
1.682 |
1.598 |
1.518 |
|
|
|
|
|
|
|
|
|
|
Sub – Total [B] |
34.713 |
36.601 |
37.222 |
39.190 |
41.387 |
40.251 |
41.373 |
|
10 TERM LIABILITIES [Total of 1
to 9] |
67.213 |
71.601 |
74.722 |
76.690 |
78.887 |
77.751 |
78.873 |
|
|
|
|
|
|
|
|
|
|
11 Debentures [not maturing
within one year] |
|
|
|
|
|
|
|
|
12 Preference Shares [Redeemable
after 1 year] |
|
|
|
|
|
|
|
|
13 Term loans [excluding 1 Year
installments] Car Loan |
-- |
|
|
|
|
|
|
|
T/Ls from Corporation Bank |
24.408 |
18.000 |
12.600 |
7.200 |
1.800 |
-- |
-- |
|
14 Deferred Sales Tax / Deferred
Loan Deferred Payment Credit [Excluding installments due within one
year] |
6.624 |
5.962 |
5.300 |
4.638 |
3.976 |
3.314 |
2.652 |
|
15 Term deposit [repayable after
one year] |
|
|
|
|
|
|
|
|
16 other Term Liabilities |
9.000 |
8.000 |
5.500 |
5.000 |
3.500 |
2.500 |
-- |
|
17 TOTAL TERM LIABILITIES [Total of 11 to 16] |
40.032 |
31.962 |
23.400 |
16.838 |
9.275 |
5.814 |
2.652 |
|
18 TOTAL OUTSIDE LIABILITIES [10
+ 17] |
107.245 |
103.563 |
98.122 |
93.528 |
88.163 |
83.565 |
81.525 |
|
|
|
|
|
|
|
|
|
|
NET WORTH |
|
|
|
|
|
|
|
|
19 Ordinary share capital Share
Application Money |
32.500 |
32.500 |
32.500 |
32.500 |
32.500 |
32.500 |
32.500 |
|
20 General Reserve |
24.278 |
28.502 |
35.410 |
43.487 |
54.399 |
66.109 |
81.004 |
|
21 Revaluation Reserve |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
22 Other Reserves [Excluding
provisions] |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
23 Surplus [+] or deficit [-] in
Profit and Loss Account |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less : Drawings |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
24 NET WORTH [19+23] |
56.778 |
61.002 |
67.910 |
75.987 |
86.899 |
98.609 |
113.504 |
|
25 TOTAL LIABILITIES [18+24] |
164.023 |
164.565 |
166.032 |
169.515 |
175.062 |
182.174 |
195.029 |
|
|
|
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
26 Cash and Bank Balance |
0.243 |
0.653 |
0.266 |
0.505 |
0.571 |
0.903 |
5.266 |
|
27 Investments [Other than long
term investments] Government and other Trustee securities |
|
|
|
|
|
|
|
|
I] Fixed deposit with bank |
|
|
|
|
|
|
|
|
II] Share with Co-operative Bank
|
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
28 I] Receivables other than
deferred and exports [Including bills purchased and discounted by banks] |
54.602 |
60.063 |
66.069 |
72.676 |
79.943 |
87.938 |
96.731 |
|
II] Export receivables
[Including bills purchased / discounted by banks] |
0.811 |
0.892 |
0.981 |
1.079 |
1.187 |
1.306 |
1.436 |
|
29 Instalments of Deferred receivables [due within one year] |
|
|
|
|
|
|
|
|
30 Inventory |
|
|
|
|
|
|
|
|
I] Raw materials [Including
stores and other items used in the process of manufacture] |
|
|
|
|
|
|
|
|
Imported |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
Indigenous |
10.350 |
12.068 |
13.142 |
14.312 |
15.570 |
16.939 |
18.539 |
|
II] Stock – in – process |
1.686 |
1.809 |
1.977 |
2.164 |
2.371 |
2.600 |
2.854 |
|
II] Finished Goods |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
IV] Other consumable spares |
|
|
|
|
|
|
|
|
Imported |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
Indigenous |
8.597 |
9.362 |
10.226 |
11.169 |
12.200 |
13.326 |
14.556 |
|
31 Advances recordable in Cash
or kind |
|
|
|
|
|
|
|
|
32 Advance payment of taxes
[NET] |
6.700 |
6.767 |
6.835 |
6.903 |
6.972 |
7.042 |
7.112 |
|
33 Excise and Sales Tax Refund |
|
-- |
-- |
-- |
-- |
-- |
-- |
|
Other current assets |
2.199 |
2.309 |
2.424 |
2.545 |
2.672 |
2.406 |
2.046 |
|
34 TOTAL CURRENT ASSETS [Total
of 26 to 33] |
85.188 |
93.923 |
101.920 |
111.353 |
121.486 |
132.860 |
149.440 |
|
FIXED ASSETS |
|
|
|
|
|
|
|
|
35 Gross Block |
99.080 |
99.080 |
100.080 |
101.080 |
103.080 |
105.080 |
107.080 |
|
36. Depreciation to date |
29.775 |
36.825 |
43.212 |
49.019 |
54.462 |
59.581 |
64.415 |
|
|
|
|
|
|
|
|
|
|
37 NET BLOCK [35-36] |
69.305 |
62.255 |
56.868 |
52.061 |
48.618 |
45.499 |
42.665 |
|
|
|
|
|
|
|
|
|
|
OTHER NON – CURRENT ASSETS |
|
|
|
|
|
|
|
|
38 Investments / book / debts /
advances / deposits which are not Current Assts |
|
|
|
|
|
|
|
|
I] [a] Others Investments in
Subsidiary |
|
|
|
|
|
|
|
|
[b] Others |
0.249 |
0.249 |
0.249 |
0.249 |
0.249 |
0.249 |
0.249 |
|
II] Advances to suppliers of
capital goods and contractors |
|
|
|
|
|
|
|
|
III} Deferred receivables
[maturity exceeding one year] |
9.281 |
8.138 |
6.995 |
5.852 |
4.709 |
3.566 |
2.675 |
|
IV] Others |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
39 Non consumables Stores and
Spares |
|
|
|
|
|
|
|
|
40 Other non – current assets
including dues from directors |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
41 TOTAL OTHER NON – CURRENT
ASSETS [total of 38 to 40] |
9.530 |
8.387 |
7.244 |
6.101 |
4.958 |
3.815 |
2.924 |
|
42 Intangible assets [Patents,
goodwill, prelim, expenses, bad / doubtful debts Not provided for etc.] |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
43 TOTAL ASSETS [Total of 34, 37, 41 and 42] |
164.023 |
164.565 |
166.032 |
169.515 |
175.062 |
182.174 |
195.029 |
|
44 TANGIBLE NET WORTH [24-42] |
56.778 |
61.002 |
67.910 |
75.987 |
86..899 |
98.609 |
113.504 |
|
45 NET WORKING CAPITAL |
17.975 |
22.322 |
27.198 |
34.663 |
42.599 |
55.109 |
70.567 |
|
[17 + 24]-[37+41+42] |
|
|
|
|
|
|
|
|
to tally with [34-10] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
46 Current Ratio [Items 34/10] |
1.27 |
1.31 |
1.36 |
1.45 |
1.54 |
1.71 |
1.89 |
|
47. Total Outside Liabilities /
Tangible Net Worth [18/44] |
1.89 |
1.70 |
1.44 |
1.23 |
1.01 |
0.85 |
0.72 |
FIXED ASSETS
- Block Artwork and Design
- Building
- Computer
- Computer Software
- Electrical installation
- Factory Premises
- Furniture and Fixture
- Laboratory Equipment
- Land and Land Development
- Motor Car
- Motor Bike
- Office Equipment
- Plant and Machinery
- Refrigerator
- Typewriter
- Cycle
- Air Conditioners
- Fax Machine
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified
|
90236377 |
|
Corporate
identity number of the company |
U24234MH1978PTC020792 |
|
Name of the
company |
PROPHYLA BIOLOGICALS PRIVATE LIMITED
|
|
Address of the
registered office or of the principal place of business in India of the company |
157, Modi Street, Fort, Mumbai – 400001, Maharashtra, India |
|
Type of charge |
|
|
Particular of
charge holder |
Corporation Bank, Hill Road, Bandra – West, Mumbai – 400050 |
|
Nature of description
of the instrument creating or modifying the charge |
[all the above
agreement constitute single charge] |
|
Date of
instrument Creating the charge |
28.03.2007 |
|
Amount secured by
the charge |
Rs. 38.500
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As stipulated by
bank from time to time and as per agreement attached and as per sanction
letter of the Bank Terms of
Repayment As stipulated by
bank from time to time and as per agreement attached and as per sanction
letter of the Bank Margin As stipulated by
bank from time to time and as per agreement attached and as per sanction letter
of the Bank Extent and
Operation of the charge First Charge :
[Present and future] As stipulated by bank from time to time and as per
agreement attached and as per sanction letter of the Bank [Limit – Cash
Credit Rs. 20.000 Millions ADHOC Cash Credit – Rs. 3.500 Millions; Term Loan
– Rs. 15.000 Millions] Others As stipulated by
bank from time to time and as per agreement attached and as per sanction
letter of the Bank |
|
Short particulars
of the property charged |
First charge
[Present and future] Hypothecation of
all stock / goods including stock / goods brought under LC / PCL Hypothecation of
Book Debts and receivables including export documentary bills / cheques bills
discounted with bank Hypothecation of
all plant and machinery [existing and future] Hypothecation of
all Fixed Assets and Current Assets EMG of plot no. W-91 [D] and
W-92 [D] and W-93 [D] MIDC Industrial Area, Taloja, District Raigad with
factory building thereon EMG of property admg. Of property admg. 64.3 BEA Gut No. 123 [Old Gut
No. 120] admg 0 Hect, 55.8 R and 0-Hect 8.5 R at village Mulsi [Pound],
Pune |
|
Date of latest
modification prior to the present modification |
22.11.2006 |
|
Particulars of
the present modification |
By this
modification limit enhance to Rs. 38.500 Millions, continued security as
given by original charge as well as by modifications, terms and conditions as
per agreement and as per sanction letter of the Bank. |
PROFILE
Prophyla Biologicals was setup in 1978 with the objective of providing high
quality pharmaceutical products for better quality of life. In the endeavor to
make available the best quality of 'medicines to alleviate the-sufferings of
mankind, subject offer the' products of International standards. The missionary
zeal of people at Prophyla for quality, service and total customer satisfaction
has earned a respectable name or Prophyla as a reliable and dependable Contract
Manufacturer. Today, subject are recognized as an ideal Contract manufacturing
partner for companies who need the assurance of quality and cost effectiveness.
Subject look towards working hand in hand with other companies and giving them
customized solutions. Subject shall continue to achieve excellence in
manufacturing pharmaceutical products by marching ahead on the corporate
principles, which shall spread the smile world over.
The Leader in manufacturing Pharma grade Lozenges
The biggest milestone in the history of Prophyla was achieved way back
in 1997, when a state-of-the-art plant -with an ultra modern technology was
setup in Pirangut specifically for Manufacturing of pharma grade lozenges. WHO,
GMP Certification of the Plant is a testimony to the quality standards in
manufacturing lozenges. The plant is constructed over an area of 70,000 sq.ft.
The present capacity of the plant is 180 tonnes/month, which can be increased
further as per the requirements. Manufacturing of high quality and Pharma grade
Lozenges needs a special climatic zone. That is why the Lozenges manufacturing
factory was installed in the town of Pirangut near Pune, which is the ideal
Geo-strategic place with suitable climate.
Emerging Force in Veterinary Products
Healthcare management of Livestock and animals is a fast growing
segment. The focus is to develop and manufacture veterinary pharmaceutical
products. Subject manufacture dosage forms such as bolus, powder and suspension
for top of the line Pharmaceutical Companies.
Excellence
in Herbal Pharma manufacturing
For centuries India's rich herbal heritage has been the source of
inspiration for curing diseases and providing better quality of life for
suffering humanity. India has been the cradle for the development of Ayurvedic
and Herbal medicines. Herbal plants are found and grown in plenty in the rich
terrain of India. Subjects are committed to achieve excellence in the
manufacturing of high quality herbal products by utilizing all the natural
resources of the country. To standardize the quality and efficacy, Prophyla has
ambitious plans for back ward integration in cultivation and extraction of
herbs.
International Presence
Prophyla Biologicals has been making its foray into the International
Market through exports with clockwise regularity. Products manufactured by them
confirm to International quality standards and are exported world widely buy
the valued customers. Subject also export their own brands in various
pharmaceutical forms such as Oral dosages, inhalers, ointments and lozenges to
various countries like South Africa, Middle East and South-East Asia.
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 were 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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.86 |
|
UK Pound |
1 |
Rs.83.58 |
|
Euro |
1 |
Rs.66.17 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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 |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|