MIRA
INFORM REPORT
|
Report Date : |
26.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
GENO PHARMACEUTICALS LIMITED |
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Registered Office : |
Pharmaceutical Complex, Tivim Industrial Estate, P.
O. Karaswada, Mapusa - 403 526, Goa |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
04.12.1975 |
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Com. Reg. No.: |
24-250 |
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CIN No.: [Company
Identification No.] |
U24239GA1975PLC000250 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMG08901E |
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PAN No.: [Permanent
Account No.] |
AAACG5887G |
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Legal Form : |
A
closely held public limited liability company. |
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Line of Business : |
Manufacturing
of pharmaceutical drugs and formulations. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 540000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well
established company having satisfactory track. Trade relations are fair.
Financial position is satisfactory. Payments are usually correct and as per
commitments. The company can
be considered normal for business dealings at usual trade terms and conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Rajendra Khalkar |
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Designation : |
Company Secretary |
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Date : |
23.06.2008 |
LOCATIONS
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Registered Office/Factory : |
Pharmaceutical Complex, Tivim Industrial
Estate, P. O. Karaswada, Mapusa - 403 526, Goa, India |
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Tel. No.: |
91-832-2299216
/ 217 / 2254697 / 2254698 / 2257216 / 2257217 |
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Fax No.: |
91-832-2299215
/ 2257215 |
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E-Mail : |
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Website : |
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Area : |
2,10,000 Sq. ft |
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Location : |
Leased |
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Corporate Office : |
701, Acme Plaza, P B No. 7449, Andheri (East), Mumbai, Maharashtra |
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C
& F Depots : |
Located
at : +
354/B,
Nehru Road, Tilakwadi, Belgaum – 590 006 +
Godown
No. 13, Gala No. 3, Ground Floor, Arihant Compound, Purna Village, Bhiwandi,
Taluka Thane, Maharashtra +
P-143,
C. I. T. Road, Kolkata – 700 054, West Bengal +
C/o.
Monica Pharma, Town Hall Road, Cuttack – 753 009, Orissa +
49,
First Floor, Navyug Market, Ghaziabad – 201 001, Uttar Pradesh +
5,
Gopal Road, Panbazar, Guwahati – 781 001, Assam +
D.
No. 1-1-710, Street No. 9, Gandhi Nagar, Hyderabad – 500 080, Andhra Pradesh +
E-199,
Transport Nagar, Lucknow – 226 012, Uttar Pradesh +
Ground
Floor, Sona Towers, 10 West, Avani Moola Street, Madurai – 625 001 +
Dhardhara
Kothi, Naya Tola, Patna – 800 004, Bihar +
K,
51/1, Visheshwarganj, Varanasi – 221 001, Uttar Pradesh +
401/2,
Akshat Building, Opp. Crossword, Near Rajendra Patel Orthopaedic Hospital,
Mithakali Six Road, Naurangapura – 380 009, Ahmedabad, Gujarat +
9-508,
Abdullah Building, Gurunanak Market, Haldwani (Nainital) – 263 139,
Uttaranchal +
Old
Sales Tax Premises, 1st Floor, J. K. Building, Hamidia Road,
Bhopal – 462 001, Madhya Pradesh +
XXXV/908,
North Janatha Road, Palarivattom, Kochi – 682 025, Kerala +
Behind
Bihar Club, Court Road, Ranchi – 834 001, Bihar |
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Branches : |
Located
at : +
701,
Acme Plaza, 7th Floor, Andheri (East), Mumbai – 400 059 Tel No. 91-22-28271613 / 28271614 Fax No. 91-22-28271612 E Mail : genomum@vsnl.net +
F/D6,
Flat No. 2, Salt Lake City, Sector III, Kolkata - 700 091, West Bengal Tel. No. 91-33-23377671 Fax No. 91-33-23376245 +
G-1259,
C. R. Park, New Delhi – 110 019 |
DIRECTORS
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Name : |
Mr.
Dilip R. Salgaocar |
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Designation : |
Managing Director
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Address : |
Sharuan Near
Sports Complex Pedem, Mapusm, North Goa – 403507, Goa |
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Date of Birth/Age : |
20.10.1947 |
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Date of Appointment : |
01.01.1980 |
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Name : |
Mr.
Anand R. Salgaocar |
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Designation : |
Director |
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Address : |
Rajeshwar Baina,
Vasco-Da-gama Goa, South Goa – 403802, Goa |
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Date of Birth/Age : |
04.02.1950 |
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Date of Appointment : |
31.01.1980 |
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Name : |
Mr. Pradip P.
Mahatrme |
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Designation : |
Director |
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Address : |
Opp. All India
Radio, Altinho – ‘Mahatme’, Panaji Goa, North Goa – 403001, Goa |
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Date of Birth/Age : |
03.11.1951 |
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Date of Appointment : |
22.04.1980 |
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Name : |
Mr. Sridhar Rama
Tamba |
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Designation : |
Director |
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Address : |
‘Altinho’,
Santosh – Altinho, Panji, North Goa – 403001, Goa |
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Date of Birth/Age : |
21.06.1923 |
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Date of Appointment : |
22.04.1980 |
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Name : |
Mr. Ramnath
Gouind Kare |
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Designation : |
Director |
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Address : |
Post Box No. 42,
Kare House, margao, South Goa – 403601, Goa |
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Date of Birth/Age : |
18.10.1934 |
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Date of Appointment : |
04.12.1975 |
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Name : |
Mr. Vinayak Hari
Vaze |
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Designation : |
Director |
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Address : |
‘Girish’, tarabai
Chowk, Kolhapur, Maharashtra |
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Date of
Birth/Age : |
09.10.1927 |
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Date of
Appointment : |
04.12.1975 |
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Name : |
Mrs. Pallavi S.
Salgao |
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Designation : |
Director |
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Address : |
Sharvani Near Sports
Complex Pedem, Mapusa, North Goa – 403507, Goa |
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Date of
Birth/Age : |
20.02.1977 |
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Date of
Appointment : |
30.09.2004 |
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Name : |
Mr. Rajendra S.
Kholkar |
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Designation : |
Director |
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Address : |
T – I / A, 3rd
Floor Santa Rita Mansion Stinez, Panji, North Goa – 403001, Goa |
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Date of
Birth/Age : |
22.04.1955 |
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Date of
Appointment : |
12.05.2000 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 31.03.2007
|
Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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87.06 |
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Other top fifty shareholders |
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8.31 |
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Others |
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4.63 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing
of Pharmaceutical Drugs and Formulations. |
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Products : |
v
Algina
Syrup v
Algina
Tablets v
Bencid
Tablets v
Brupal
Tablets v
Brupal
Forte Tablets v
Brupal
Kid Tablets v
BG
Cream v
Betahist
Tablets v
Cipti
Tablets v
Cipti
Forte Tablets v
Cypon
Drops v
Cypon
Capsules v
Desol
Ear Drops v
Cortisal
Ointment v
Endos
Capsules v
Eleron
Capsules v
Eleron
Syrup v
Frumil
Tablets v
Frusenex
Tablets v
Floban
Tablets v
Fusigen
Ointment v
Fusigen
B Cream v
Genogyl
F Tablets v
Genogyl
F Suspension v
Genogyl
N Suspension v
Genophane
Tablets v
Genoplex
Forte Injection v
Genozyme
Syrup v
Gery
Ointment v
Inflaryl
AD Tablets v
Lamonte
Cream v
Lamonte
B Cream v
Lobak
Tablets v
Lobak
Forte Tablets v
Myolaxin
Ointment v
Mosagen
– 2.5 Tablets v
Paracetamol
Tablets I. P. v
Pamela
Tablets v
Pamela
Suspension v
Peptica
Tablets v
Peptica
Gel v
Pipcol
Drops v
Protectone
Liquid v
Respira
Liquid v
Respira
D Liquid v
Sarpalzino
Tablets v
Septinix
Paediatric v
Septinix
Tablets v
Septinix
Forte v
Vertigon
Tablets v
Vertidom
Tablets |
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Brand Names : |
"SINEOF" |
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Exports : |
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Countries : |
African Countries, South America, Central America and South East Asia |
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Imports : |
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Countries : |
Europe (Small amount) |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Credit |
GENERAL
INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
850 |
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Bankers : |
v
Syndicate
Bank, Mapusa, Goa v
The
Goa Urban Co-operative Bank Limited, Mapusa - 403507, Goa v
HDFC
Bank v
ICICI
Bank Limited, Panji, Panji Goa – 403001, Goa, India v
ICICI
Bank Limited, ICICI Towers, Bandra Kurla Complex, Mumbai, Maharashtra |
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Facilities : |
Syndicate
Bank, Mapusa, Goa – Working Capital – Rs. 100.000 Millions to 6.000 Millions
term loan |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Ganesh & Ganesh Chartered
Accountants |
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Address : |
G – 7,
Vaikunth Apartments, P O Box 49, Comba, Margao, Goa – 403 601 |
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Tel. No.: |
91-832-2731018 /
2730728 |
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Res. No.: |
91-832-2759733 |
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Fax No.: |
91-832-2732408 |
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E-Mail : |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 31.03.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 millions |
|
150000 |
Redeemable
preference Shares |
Rs. 100/- each |
Rs. 15.000 millions |
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Total |
|
Rs. 65.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity
shares |
Rs. 10/- each |
Rs. 30.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
30.000 |
30.000 |
30.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
78.389 |
60.265 |
47.357 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
108.389 |
90.265 |
77.357 |
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LOAN FUNDS |
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1] Secured Loans |
128.079 |
106.261 |
92.671 |
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2] Unsecured Loans |
19.165 |
36.701 |
31.966 |
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TOTAL BORROWING |
147.244 |
142.962 |
124.637 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
255.633 |
233.227 |
201.994 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
97.930 |
94.642 |
65.675 |
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Capital work-in-progress |
3.785 |
2.037 |
1.584 |
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INVESTMENT |
0.522 |
0.522 |
0.522 |
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DEFERREX TAX ASSETS |
1.520 |
2.017 |
1.734 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
122.010
|
110.916
|
87.603 |
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Sundry Debtors |
84.926
|
63.269
|
55.063 |
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Cash & Bank Balances |
43.394
|
40.459
|
44.379 |
|
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Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
48.053
|
49.241
|
25.105 |
|
Total
Current Assets |
298.383
|
263.885
|
212.150 |
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
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|
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|
Current Liabilities |
116.426
|
104.967
|
66.990 |
|
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Provisions |
30.081
|
24.909
|
12.681 |
|
Total
Current Liabilities |
146.507
|
129.876
|
79.671 |
|
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Net Current Assets |
151.876
|
134.009
|
132.479 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
255.633 |
233.227 |
201.994 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
|
670.832 |
499.544 |
|
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Other Income |
|
0.000 |
0.000 |
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Total Income |
|
670.832 |
499.544 |
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Profit/(Loss) Before Tax |
|
5.217 |
24.169 |
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Provision for Taxation |
|
10.269 |
6.487 |
|
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Profit/(Loss) After Tax |
|
[5.052] |
17.682 |
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Earnings in Foreign Currency : |
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Export Earnings |
|
5.771 |
0.206 |
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Total Earnings |
|
5.771 |
0.206 |
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Imports : |
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Raw Materials |
|
NA |
5.905 |
|
Total Imports |
|
NA |
5.905 |
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Not Available |
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Expenditures : |
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Cost of Goods Sold |
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Manufacturing Expenses |
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Administrative Expenses |
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Raw Material Consumed |
|
201.666 |
150.327 |
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Purchases made for re-sale |
|
62.469 |
9.093 |
|
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Consumption of stores and spares parts |
|
2.647 |
2.329 |
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Increase/(Decrease) in Finished Goods |
|
26.223 |
(13.547) |
|
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Salaries, Wages, Bonus, etc. |
|
102.936 |
81.679 |
|
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Managerial Remuneration |
|
2.669 |
1.461 |
|
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Payment to Auditors |
|
0.242 |
0.212 |
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Interest |
|
9.390 |
9.852 |
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Insurance Expenses |
|
2.001 |
1.697 |
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Power & Fuel |
|
8.782 |
6.974 |
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Depreciation & Amortization |
|
6.338 |
4.005 |
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Other Expenditure |
|
240.252 |
221.293 |
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Total Expenditure |
|
665.615 |
475.375 |
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Expected Sales (2008-09) : Rs.1000.000 Millions
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
--
|
[0.75]
|
3.54 |
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|
Net Profit Margin (PBT/Sales) |
(%) |
--
|
0.78
|
4.84 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
--
|
1.46
|
8.70 |
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Return on Investment (ROI) (PBT/Networth) |
|
--
|
0.06
|
0.31 |
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|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.99
|
3.02
|
2.64 |
|
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|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.03
|
2.03
|
2.66 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References
v
Associated Capsules, Mumbai (ACG Worldwide)
v
Empire Industries, Mumbai
v
(Vitram Glass) Division of Empire Industries
Form 8
|
This form is for |
Creation of
charge |
|
Corporate identity
number of the company |
U24239GA1975PLC000250 |
|
Name of the
company |
GENO PHARMACEUTICALS LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
Tivim Industrial Estate, Karaswada, Mapusa, Goa – 403526, Goa, India |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
Syndicate Bank,
Dempo Mansion, Mapusa, Goa – 403507 E. Mail.: ga.7206map@syndicatebank.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Charge and
hypothecation of book debts – agreement Composite
Hypothecation agreement |
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Date of
instrument Creating the charge |
22.01.2007 |
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Amount secured by
the charge |
Rs. 106.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
– Banks PLR Minus 0.50% Terms of
Repayment – Repayable on demand Margin – 25% each
incase of Bank Guarantee limit of Rs. 2.000 Millions and F/IIC (DA/DP) limit
Rs. 4.000 Millions Extent and
Operation of the charge – Syndicate bank has absolute charge on the current
assets Others - - |
|
Short particulars
of the property charged |
Hypothecation of stock
of raw material, work in progress, finished goods, packing material All the book
debts, outstanding money receivable, claims and bills 2nd
charged on all fixed assets of the company
|
Form 8 Particular for creation
or modification of charges
|
Corporation identity number or foreign company registrations number of the company |
U24239GA1975PLC000250 |
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Name of the company |
GENO PHARMACEUTICALS LIMITED |
|
Address |
Pharmaceutical Complex, Tivim Industrial
Estate, P. O. Karaswada, Mapusa - 403 526, Goa |
|
This Form is for |
Creation of charge |
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Type of Charges |
Hypothecation |
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Particular of the charge holder |
ICICI Bank Limited, Panji, Panji Goa – 403001, Goa, India |
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Nature or description of the instrument creating charge |
Unattested deed of hypothecation |
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Date of the instrument creating charge |
03.07.2006 |
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Amount Secure by the charge |
Rs. 1.278 Millions |
|
Brief of the principal terms and conditions and extent and operation of the charge |
The loan availed for purchased of vehicles Toyota camry will be repaid in 36 monthly instalments of Rs. 0.040 millions each The property hypothecated is the absolute property of the company. |
|
Description of the property charge whether it is a charge on |
Vehicles |
|
Particulars of the Property charged |
Toyota Cambry Vehicles |
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Name of the company |
GENO PHARMACEUTICALS LIMITED |
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Presented By |
Mr.
R S Kholkar, Company Secretary |
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1) Date and description of instrument creating the change |
Composite hypothecation and charge and hypothecation of debts agreements both dated 23.03.2004 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 81 millions
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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 |
First charge on Stock in Trade and Book debts, stock in trade comprising of raw materials in the form of medicines, drugs, tablets, ingestible, packing, materials and all other stock in trade used by the company and second charge on plant and ,machinery |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of interest 13 % p.a. or such rate as charged by the Bank from time to time. |
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5) Name and Address and description of the person entitled to the charge. |
Sybdicate Bank Dempo Mansion, Mapusa Goa |
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6) Date and brief description of instrument modifying the charge |
Memorandum of Deposit of Title deed by way of constructive delivery for creation of second charge in favour of bank dated 04.06.2005 |
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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. |
At the time of depositing Title deed by the company with the Goa Urban Cooperative Bank Limited Mapusa pertaining to lease deed dated 01.03.1977 In respect of the leasehold land of the company belonging to the Goa, daman and Diu industrial Corporation Panji has ceded second charge in favour of bank pertaining to the all that Plot of Land No. 1, adm. 21364 m 2, in the property bearing plot No. 160 cadastral Survey No. 502 parts situated within the municipal limits of Mapusa. Goa for the total facility granted by the bank to the company of Rs. 81 millions There is no change in the charge amount of Rs. 81 millions |
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Name of the company |
GENO PHARMACEUTICALS LIMITED |
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Presented By |
Mr.
R S Kholkar, Company Secretary |
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1) Date and description of instrument creating the change |
Composite hypothecation and charge and hypothecation of debts agreements both dated 23.03.2004 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 81 millions
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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 |
First charge on Stock in Trade and Book debts, stock in trade comprising of raw materials in the form of medicines, drugs, tablets, ingestible, packing, materials and all other stock in trade used by the company and second charge on plant and ,machinery |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of interest 13 % p.a. or such rate as charged by the Bank from time to time. |
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5) Name and Address and description of the person entitled to the charge. |
Sybdicate Bank Dempo Mansion, Mapusa Goa |
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6) Date and brief description of instrument modifying the charge |
NA |
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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. |
NA |
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Name of the company |
GENO PHARMACEUTICALS LIMITED |
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Presented By |
Mr.
R S Kholkar, Company Secretary |
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1) Date and description of instrument creating the change |
Agreement for Auto Loan dated 12.12.2004 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 0.300 millions |
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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 Maruti Esteem Vehicle Chassis No. 180077 Engine No. 422303 |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The loan amount will be repaid over a period of 36 months, one instalments advance |
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5) Name and Address and description of the person entitled to the charge. |
HDFC Bank, Mumbai |
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6) Date and brief description of instrument modifying the charge |
NA |
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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. |
NA |
AS PER WEBSITE
DETAILS
Subject
was established in December1975. It commenced commercial
operations in March 1977 initiating manufacture of it's
formulations on contract basis in Mumbai and Goa.
Simultaneously,
GENO initiated construction of it's
own formulation manufacturing facility at
Karaswada, Mapusa, Goa in the picturesque environment,
eco-friendly ambience of Goa on the west
coast of India, roughly 600 kms. south of Mumbai.
GENO has
been the pioneer and leader in Anti Migraine, Anti Vertigo and family
health pharmaceutical products in India.
Over
the years, GENO Pharmaceuticals Limited has built strong brands,
which include Cypon®, Vertigon ®, Vertidom ®, Myolaxin ® and many more.
Manufacturing
Geno
presents a co-existence of high technology and pristine environment. It's state
of the art factory at Mapusa, Goa is a classic example of the company’s
conscious effort to be in tune with nature while assimilating technological innovations.
Cleanliness and hygiene assume top priority in the manufacturing complex. Each
production module functions in compliance with the schedule M of Drugs and
Cosmetics Act and Rules of India and in accordance with the established WHO
cGMP practices. The manufacturing facility was created over a space
of five acres with built-up area of 9585 square metres.
GENO’s
Formulations are produced by well trained and expert Pharmacists who are
obsessed with a passion for excellence and adhere scrupulously to current Good
Manufacturing Practices. The Plant is equipped to manufacture
a complete variety of Formulations in the dosage forms of Tablets, Liquid
Orals, Hard gelatin Capsules, Topical Ointments, Small Volume Parenterals,
Otics, etc.
The
various Sections are equipped for an annual output on
single shift of 8 hours working per day as follows:
|
TABLETS |
400 Million Tablets |
|
LIQUID ORALS |
13
Million Bottles |
|
CAPSULES |
75 Million
Capsules |
|
TOPICALS |
6 Million
Tubes |
|
INJECTABLES |
24
Million Ampoules |
The
Plant was commissioned in the Year 1979 and since
then has been producing entire requirement of the Company as well
as manufacturing Products for other Companies on
Contract manufacture or Loan License basis.
The
various Companies with which GENO Pharmaceuticals Limited has been
associated over the years for such a manufacturing
activity are :
v
Pfizer Limited
v
Tata Pharma.
v
Torrent Pharmaceuticals.
v
Searle (India) Limited
v
Blue Cross Laboratories Limited
v
Okasa ( A Division Of Cipla)
v
Wallace Pharmaceuticals Limited
v
Cosme Pharma Limited
v
Ashwini Pharmaceuticals Limited
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.42.82 |
|
UK Pound |
1 |
Rs.84.27 |
|
Euro |
1 |
Rs.66.62 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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 |
|