MIRA
INFORM REPORT
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Report Date : |
15.01.2011 |
IDENTIFICATION DETAILS
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Name : |
BAYER CROPSCIENCE LIMITED |
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Formerly Known
As : |
BAYER ( |
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Registered
Office : |
Bayer House, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
09.09.1958 |
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Com. Reg. No.: |
11-11173 |
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CIN No.: [Company Identification
No.] |
L24210MH1958PLC011173 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB00146G |
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PAN No.: [Permanent Account No.] |
AAACB9651K |
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Legal Form : |
A Public
Limited Liability Company. The Company’s Shares are Listed on the Stock
Exchanges. |
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Line of Business
: |
Manufacture
and sale of Agro Chemicals products like Methyl Parathion, Oxydemetonmethyl,
Fenthion etc. |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (75) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 22000000 |
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Status : |
Very Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject
is a well-established and a reputed company having fine track. Financial
position of the company appears to be sound. Fundamentals are strong and
healthy. Directors are reported to be experienced and respectable
businessmen. Trade relations are reported as fair. Business is active.
Payments are reported to be regular and as per commitments. The
company can be considered normal for business dealings at usual trade terms
and conditions. |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION DECLINED BY
Management Non Co-Operative.
LOCATIONS
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Registered Office : |
Bayer House, |
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Tel. No.: |
91-22-25711234 /
25711391/ 25711388/ 25711395 |
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Fax No.: |
91-22-25700147 |
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E-Mail : |
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Website : |
www.bayercropscience.com
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Unit Office: |
228, GIDC Estate,
Panoli, Ankleshwar – 394116, |
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Factory 1 : |
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Tel. No.: |
91-22-2531
1234 |
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Fax No.: |
91-22-2575
5083 |
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Factory 2 : |
Plot Nos. 6008 - 10 and 6301 - 10A, GIDC Industrial Estate, Ankleshwar
– 393002, |
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Factory 3 : |
Plot Nos. 66/1 to 75/2, GIDC,
Estate, Himatnagar – 383001, |
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Branches : |
Hoechst
House, 193, Backbay Reclamation, Nariman Point, Mumbai – 400021, |
DIRECTORS
As on 31.03.2010
|
Name : |
Dr. Vijay
Mallya |
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Designation : |
Chairman
and Independent Director |
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Name : |
Mr.
Stephan Gerlich |
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Designation : |
Vice Chairman and Managing Director Promoter Director Member - Shareholders' Grievance Committee |
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Name : |
Mr. Sharad
M Kulkarni |
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Designation : |
Independent
Director Chairman
- Audit Committee Chairman
- Shareholders' Grievance Committee |
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Name : |
Mr. A
K Ravi Nedungadi |
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Designation : |
Independent Director Member - Audit Committee |
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Name : |
Mr.
Johannes M Dietsch |
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Designation : |
Non-Executive
Promoter Director |
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Name : |
Mr. Bernd Naaf |
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Designation : |
Director |
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Name : |
Mr. Vimal Bhandari |
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Designation : |
Director |
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Name : |
Mr. Kaikobad Mistry |
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Designation : |
Whole Time Director |
KEY EXECUTIVES
|
Name : |
Shirin V. Balsara |
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Designation : |
Vice President – Legal and Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2010
|
Names of Shareholders |
Total
No. of Shares |
Total
Shareholding as a % of total No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
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654,850 |
1.66 |
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654,850 |
1.66 |
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27,431,812 |
69.45 |
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27,431,812 |
69.45 |
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Total shareholding of Promoter and Promoter Group (A) |
28,086,662 |
71.11 |
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(B) Public Shareholding |
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1,297,478 |
3.28 |
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14,658 |
0.04 |
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1,769,351 |
4.48 |
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1,556,511 |
3.94 |
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4,637,998 |
11.74 |
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2,373,891 |
6.01 |
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3,329,715 |
8.43 |
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1,065,012 |
2.70 |
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5,469 |
0.01 |
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53 |
- |
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5,316 |
0.01 |
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|
100 |
- |
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6,774,087 |
17.15 |
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Total Public shareholding (B) |
11,412,085 |
28.89 |
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Total (A)+(B) |
39,498,747 |
100.00 |
(1) Indian
Bodies Corporate
Individual shareholders holding nominal
share capital up to Rs.0.100 MillionBUSINESS DETAILS
|
Line of Business : |
Manufacture
and sale of Agro Chemicals products like Methyl Parathion, Oxydemetonmethyl,
Fenthion etc. |
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Products : |
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PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Active
Ingredient Production |
Tons |
5770 |
1485 |
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Formulations |
|
|
|
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Powders
|
Tons |
3650 |
2193 |
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Liquids |
KL |
10025 |
6379 |
|
Wetable
dispersable granules |
Tons |
700 |
10787 |
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Tablets
|
Million Nos |
6200 |
-- |
GENERAL INFORMATION
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No. of Employees : |
Information denied by the management |
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Bankers : |
Ř
Bank of Ř
BNP Paribas Ř
Central Bank of Ř
Citibank N.A. Ř
Deutsche Bank Ř
HDFC Bank Limited Ř
Societe Generale Ř
State Bank of Ř
Union Bank of Ř
Credit Agricole Corporate and Investment Bank Ř
Standard Chartered Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Price
Waterhouse Chartered
Accountants |
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Solicitors: |
Crawford Bayley and Company |
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Ultimate Holding Company: |
Bayer AG, |
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Parties under
common control : |
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Group Company: |
1 Bayer Algerie S.P.A. 2 Bayer S.A. 3 Bayer Australia Limited 4 Bayer CropScience Holdings Pty Limited 5 Bayer CropScience Pty Limited 6 Bayer MaterialScience Pty Limited
7 Cotton Growers Services Pty. Limited 8 Imaxeon Pty. Limited 9 Schering Pty. Limited 10 U I M Agrochemicals (Aust) Pty Limited 11 Bayer Austria Gesellschaft m.b.H. 12 Intendis 13 Bayer CropScience Limited 14 Bayer Antwerpen N.V. 15 Bayer BioScience N.V. 16 Bayer CropScience SA-NV 17 Bayer SA-NV 18 Bayer Sheet Europe N.V. 19 Indaver N.V. 20 Medrad 21 Bayer Boliviana Ltda 22 Bayer d.o.o. 23 Bayer Distribuidora de Produtos Quimicos e Farmaceuticos Ltda. 24 Bayer S.A. 25 Campo Limpo - Reciclagem e Transformacao de Plasticos 26 Farmaco Ltda. 27 Intendis do Brasil Farmaceutica Ltda. 28 Medrad do Brasil Ltda. 29 Nunhems do Brasil Comercio de Sementes Ltda 30 Schering do Brasil Quimica e Farmaceutica Ltda. 31 Bayer 32 Bayer Canadian Holdings Inc. 33 Bayer CropScience Holdings Inc. 34 Bayer CropScience Inc. 35 Bayer Inc. 36 BayOne Canada, Inc. 37 Berlex Canada, Inc. 38 Schein Pharmaceutical Canada, Inc. 39 Alimtec 40 Bayer S.A. 41 Laboratorio Berlimed 42 Nunhems Chile S.A. 43 Bayer Cropscience SA 44 Bayer S.A. 45 Bayer Central America Sociedad Anonima 46 Bayer S.A. 47 Bayer d.o.o. 48 Quimicas Unidas 49 AgrEvo Middle East ( 50 Bayer s.r.o. 51 BaySystems a.s. 52 Bayer A/S 53 BaySystems Northern 54 Medrad 55 Bayer S.A. 56 Bayer S.A. 57 Bayer, 58 Corporación Bonima S.A. de C.V. 59 Bayer OÜ 60 Bayer Oy 61 Bayer Schering Pharma Oy 62 Baulé S.A.S. 63 Bayer CropScience 1272 64 Bayer CropScience Holding SA 65 Bayer Immobilier SAS 66 Bayer Polyols S.N.C. 67 Bayer S.A.S. 68 Bayer Santé Familiale SAS 69 Bayer Santé SAS 70 GIE AIFOR 71 Medrad 72 Novance SAS 73 Nunhems 74 PYCO SA 75 Secmer SARL 76 Société Immobiličre de Gaillard d'Économie Mixte (SIGEM) 77 1. BCrSV GmbH 78 2.BHCV GmbH 79 Agreva GmbH 80 AgrEvo Verwaltungsgesellschaft mbH 81 AiCuris GmbH and
Company KG 82 AiCuris Verwaltungs-GmbH 83 Alcafl eu Management GmbH and
Company KG 84 Ausbildungsinitiative Rheinland GmbH 85 Bayer 04 Immobilien GmbH 86 Bayer 04 87 Bayer 04 Leverkusen Sportförderung gGmbH 88 Bayer 04 Marketing GmbH 89 Bayer 04 Mobilien GmbH 90 Bayer Aktiengesellschaft 91 Bayer Animal Health GmbH 92 Bayer Beteiligungsverwaltung Goslar GmbH 93 Bayer Beteiligungsverwaltungsgesellschaft mbH 94 Bayer BioScience GmbH 95 Bayer Bitterfeld GmbH 96 Bayer Business Services GmbH 97 Bayer Chemicals Aktiengesellschaft 98 Bayer CropScience Aktiengesellschaft 99 Bayer CropScience Beteiligungsgesellschaft mbH 100 Bayer CropScience Deutschland GmbH 101 Bayer CropScience Vermögensverwaltungsgesellschaft mbH 102 Bayer Direct Services GmbH 103 Bayer Gastronomie GmbH 104 Bayer Gesellschaft für Beteiligungen mbH 105 Bayer HealthCare Aktiengesellschaft 106 Bayer Innovation GmbH 107 Bayer Innovation Ventures GmbH 108 Bayer International Service G.m.b.H. 109 Bayer MaterialScience Aktiengesellschaft 110 Bayer MaterialScience Customer Services GmbH 111 Bayer Real Estate GmbH 112 Bayer Schering Pharma Aktiengesellschaft 113 Bayer Sheet Europe GmbH 114 Bayer Technology Services GmbH 115 Bayer Verwaltungsgesellschaft für Anlagevermögen m.b.H. 116 Bayer Vital GmbH 117 Bayer-Handelsgesellschaft mit beschränkter Haftung 118 Bayer-Unterstützungskasse GmbH 119 Bayfin GmbH 120 BayInvest GmbH 121 BaySecur GmbH 122 BaySports-Travel GmbH 123 BaySystems GmbH and
Company KG 124 BaySystems Verwaltungs-GmbH 125 BBB Management GmbH Campus 126 BKV Beteiligungs- und Kunststoffverwertungsgesellschaft mbH 127 Byometric systems AG Germany 128 Chemion Logistik GmbH 129 Currenta Geschäftsführungs-GmbH 130 Currenta GmbH and
Company OHG 131 Drugofa GmbH 132 Dynevo GmbH 133 Ehrfeld Mikrotechnik BTS GmbH 134 Epurex Films Geschäftsführungs-GmbH 135 Epurex Films GmbH and
Company KG 136 Erste K-W-A Beteiligungsgesellschaft mbH 137 Euroservices Bayer GmbH 138 Faserwerke Hüls GmbH 139 Fünfte Bayer VV GmbH 140 Generics Holding GmbH 141 GENUS Grundstücks-Vermietungsgesellschaft mbH and Company
KG Germany 142 GP Grenzach Produktions GmbH 143 Hi-BIS GmbH 144 Hild Samen GmbH 145 HTV Gesellschaft für Hochtemperaturverbrennung mbH 146 Icon Genetics GmbH 147 Intendis GmbH 148 INVITE GmbH 149 Jenapharm GmbH and
Company KG 150 KeyNeurotek Pharmaceuticals AG 151 KOSINUS Grundstücks-Verwaltungsgesellschaft mbH 152 KOSINUS Grundstücks-Verwaltungsgesellschaft mbH and Company
Gamma OHG Germany 153 KVP Pharma+Veterinär Produkte GmbH 154 Lilienthalstraße Nr. 4 GmbH 155 Marotrast GmbH 156 Medrad Medizinische Systeme GmbH 157 MENADIER Heilmittel GmbH 158 Pallas Versicherung Aktiengesellschaft 159 Partner für Berlin Holding Gesellschaft für Hauptstadt- Marketing mbH 160 Pharma mall Gesellschaft für Electronic Commerce mbH 161 Pharma-Verlagsbuchhandlung GmbH 162 PharmLog Pharma Logistik GmbH 163 Salzgewinnung Westfalen Verwaltungs GmbH 164 Salzgewinnungsgesellschaft Westfalen mbH and Company
KG Germany 165 Sauerstoff- und Stickstoffrohrleitungsgesellschaft mbH 166 SBB Abfallerzeuger GbR 167 Schering Aktiengesellschaft 168 Schering GmbH und Company
Produktions KG Germany 169 Schering International Holding GmbH 170 Schering Verwaltungsgesellschaft mbH 171 Schering-Kahlbaum Gesellschaft mit beschränkter Haftung 172 Sechste Bayer VV GmbH 173 SOLAVISTA GmbH and
Company KG 174 SOLAVISTA Verwaltungs-GmbH 175 Sportrechte Vermarktungs- und Verwertungs-GmbH and Company
oHG 176 SYGNIS Pharma AG 177 Tecpol Technologieentwicklungs GmbH für ökoeffi ziente Polymerverwert.
178 TECTRION GmbH 179 TravelBoard GmbH 180 Viverso GmbH 181 WFG Wirtschaftsförderungsgesellschaft Krefeld mbH 182 WFL Wirtschaftsförderung Leverkusen GmbH 183 Zweite K-W-A Beteiligungsgesellschaft mbH 184 Bayer Hellas AG 185 Bayer S.A. 186 Comercial Interamericana, 188 Bayer S.A. de C.V. 189 Bayer Far East Service Company
Limited 190 Bayer HealthCare Limited 191 Bayer MaterialScience Limited 192 Vincent Medical Manufacturing Company , Limited (Hong Kong) 193 Bayer Hungaria Kft. 194 CSEBER Csomagoloeszköz Begyüjtesi Rendszer Kht 195 Nunhems 196 Bayer BioScience Private Limited 197 Bayer CropScience Limited 198 Bayer Malibu Polymers Private Limited 199 Bayer MaterialScience Private Limited 200 Bayer Pharmaceuticals Private Limited 201 Bilag Industries Private Limited 202 Nunhems India Private Limited 203 PT. Bayer 204 PT. Bayer MaterialScience 205 Bayer Limited 206 Bayer Parsian AG Islam Rep 207 Bayer Israel LIMITED 208 Mediterranean Seeds Limited
209 Paltough Industries (1998) Limited
210 Polygal (Management) 1998 Limited
211 Polygal (Marketing) Limited
Partnership 212 Polygal Plastics Industries Limited 213 3R ASSOCIATI S.p.A. 214 Axxam S.p.A. 215 Bayer CropScience S.r.l. 216 Bayer HealthCare Manufacturing S.r.l. 217 Bayer Healthcare S.r.l. 218 Bayer MaterialScience S.r.l. 219 Bayer S.p.A. 220 Bayer Sheet Europe S.p.A. 221 BaySystems Italia S.p.A. 222 Consorzio Dafne 223 Intendis Manufacturing S.p.A. 224 Intendis S.p.A. 225 Medrad Italia S.r.l. 226 Nunhems 227 UNIFARM Consorzio 228 Bayer CropScience K.K. 229 Bayer Holding Limited 230 Bayer MaterialScience Limited
231 Bayer Yakuhin, Limited 232 DIC Bayer Polymer Limited 233 Hokkai Sankyo Company
Limited 234 Intendis K.K. 235 Nihon Medrad K.K. 236 Sumika Bayer Urethane Company , Limited 237 Teijin-Bayer Polytec Limited
238 TOO Bayer KAZ 239 Bayer East Africa Limited 240 241 242 243 SIA Bayer 244 UAB Bayer 245 INDURISK RÜCKVERSICHERUNG AG 246 Aventis CropScience Malawi Limited
247 Bayer ( 248 Bayer Company ( 249 Bayer CropScience (OHQ) ( 250 Schering ( 251 Bayer S.A. Maroc 252 Bayer de Mexico, S.A. de C.V. 253 Bayer IMSA, S.A. de C.V. 254 Centro Estrategico Canada Latinoamerica S.A. de C.V. 255 Junta Comercializadora de Productos de Latinoamerica, S.A. de C.V.
256 Medrad Mexicana S. de R.L. de CV 257 Nunhems Mexico S.A. de C.V. 258 PROQUINA Productos Quimicos Naturales, S.A. de C.V. 259 Bayer Schering Pharma Mocambique, Lda 260 Myanmar Aventis CropScience Limited 261 Bayer B.V. 262 Bayer Capital Corporation B.V. 263 Bayer CropScience B.V. 264 Bayer Polyurethanes B.V. 265 BaySystems B.V. 266 Berlipharm B.V. 267 Biogenetic 268 Lyondell Bayer Manufacturing Maasvlakte VOF 269 Medrad Europe B.V. 270 Nunhems B.V. 271 Nunhems 272 PGS International N.V. 273 Zilip Pharma B.V. 274 Bayer New Zealand Limited 275 Bayer S.A. 276 Bayer AS 277 Mediwest Norway AS 278 Bayer CropScience (Private) Limited 279 Bayer DAS (Private) Limited 280 Bayer 281 BCS (Private) Limited 282 Chemdyes 283 Medipharm (Pvt) Limited 284 Bayer S.A. 285 Bayer S.A. 286 Bayer S.A. 287 CROPSA S.A.C. 288 Schering Peruana S.A. 289 Bayer CropScience, Inc. 290 Bayer Philippines, Inc. 291 Bayer Sp.zo.o. 292 Nunhems 293 Bayer CropScience ( 294 Bayer Portugal S.A. 295 Bayhealth Comercializacao de Produtos Farmaceuticos Unipessoal
Lda. 296 Berlex Especialidades Farmaceuticas Lda. 297 Berlifarma Lda 298 Berlimed-Especialidades Farmaceuticas Lda. 299 CENTROFARMA-Industria e Comercio de Prod. Farmaceuticos, Lda. 300 Lusal Producao Quimico Farmaceutica Luso-Alema, Lda. 301 Lusalfarma-Especialidades Farmaceuticas, Lda 302 Bayer ( 303 Bayer ( 304 Bayer ( 305 Bayer CropScience ( 306 Bayer Healthcare Company
Limited PR 307 Bayer Jinling Polyurethane Company , Limited PR 308 Bayer MaterialScience ( 309 Bayer Technology and Engineering ( 310 Bayer TPU (Shenzhen) Company
Limited PR 311 Guangzhou Bayer MaterialScience Company Limited PR 312 Medrad Medical Equipment Trading Company PR China 313 Nunhems Beijing Seeds Company
Limited PR 314 Shanghai Baule Polyurethane Technology Company Limited
PR 315 TianJin Greenstone Polymer Technology Company Limited
PR 316 Vincent Medical(Dongguan) Manufacturing Company , Limited PR 317 Bayer Puerto Rico Inc. 318 BCS 319 SC Bayer SRL 320 Schering 321 ZAO Bayer 322 ZAO Rhone-Poulenc AO 323 Bayer d.o.o. 324 Bayer (South East Asia) Pte Ltd 325 Medrad Asia Pte. Limited 326 Bayer, spol. s.r.o. 327 Bayer d.o.o. 328 AgrEvo 329 Bayer (Proprietary) Limited 330 Coopers Environmental Health Pty Limited 331 Rustenburg Chrome Mine Holdings (Pty) Limited 332 Schering (Pty) Limited 333 Wenkem SA (Proprietary) Limited 334 Aguas Industriales de Tarragona, S.A. (AITASA) 335 Bayer CropScience, S.L. Spain 336 Bayer Hispania, S.L. Spain 337 Bayer MaterialScience, S.L. Spain 338 Bayhealth, S.L. Spain 339 340 Consorci D'aigües de 341 342 Euroservices Bayer S.L. 343 Intendis Derma, S.L. Spain 344 Nunhems 345 Química Farmacéutica Bayer, S.L. Spain 346 Racks de la zona Sur, C.B. Spain 347 Schering Espańa S.A. 348 Sociedad Espanola de materiales 349 Bayer AB 350 Medrad 351 ARA Rhein AG 352 Bayer (Schweiz) AG 353 Bayer Consumer Care AG 354 Bayer International S.A. 355 Berlis AG 356 Chemie-Beteiligungsaktiengesellschaft 357 EMP-Estrusione Materiali Plastici S.A. 358 Bayer CropScience Company , Limited 359 Bayer Polyurethanes Taiwan Limited
360 Bayer Taiwan Company Limited
361 Bayer Uretech Limited 362 Bayer CropScience ( 363 Bayer Thai Company , Limited
364 Bayer Türk Kimya Sanayi Limited Sirketi 365 Intendis Ilac Ticaret Limited Sirketi 366 Nunhems Tohumculuk Limited Sirketi 367 Bayer Limited 368 Bayer Middle East FZE 369 Bayer Middle East Limited Liability Company 370 BaySystems Pearl FZCO 371 BaySystems Pearl Limited Liability Company 372 Astex Therapeutics Limited 373 Baule UK Limited 374 Bayer AEH Limited 375 Bayer AGCO Limited 376 Bayer Agriculture Limited 377 Bayer CropScience Holdings Limited 378 Bayer CropScience Limited 379 Bayer CropScience Norwich Limited 380 Bayer Diagnostics Manufacturing Limited 381 Bayer Public Limited Company 382 Bayer UK Limited 383 CIS ( 384 Medrad UK Limited 385 pbi Home and Garden Limited
United Kingdom 386 Schering Agrochemicals Holdings 387 Schering Health Care Limited 388 Schering Holdings Limited 389 Schering Industrial Products 390 Schering Industrial Products Holdings 391 Scipher plc 392 ACT Biotech, Inc. 393 AEROVANCE, INC. 394 AgraQuest, Inc. 395 Anthra Pharmaceuticals Inc. 396 Artifi cial Muscle, Inc. 397 Athenix Corp. 398 Baule Inc. 399 Baule 400 Bayer Business and Technology Services LLC 401 Bayer Corporation 402 Bayer Cotton Seed International Inc. 403 Bayer CropScience Holding Inc. 404 Bayer CropScience Inc. 405 Bayer CropScience LLC 406 Bayer CropScience LP 407 Bayer HealthCare LLC 408 Bayer HealthCare Pharmaceuticals Inc. 409 Bayer HealthCare Pharmaceuticals LLC 410 Bayer MaterialScience LLC 411 Bayer Pharma Chemicals Inc. 412 BayOne Urethane Systems LLC 413 Baypo I LLC United States 414 Baypo II LLC 415 BAYPO Limited Partnership 416 BHCP Holdings LLC 417 BIPPO Corporation 418 CMEA Ventures II, L.P. 419 Cobalt Biofuels 420 Collateral Therapeutics, Inc. 421 Cooper Land Company of New Jersey, Inc. 422 Delinting and Seed Treating Company United States 423 E-Markets 424 Guidance Interactive Healthcare, Inc 425 ICON Genetics, Inc. 426 InPhase Technologies, Inc. 427 Intendis Inc. 428 iSense Corporation 429 iSense Development Corporation United States 430 Lifecor Inc. 431 Medrad Saxonburg Inc. 432 Medrad, Inc. 433 MTFP Inc. 434 Myopoint Inc. 435 NGEN Enabling Technologies Fund, LP United States 436 NGEN II, L.P. 437 NippoNex Inc. 438 NOR-AM Agro LLC 439 NOR-AM Land Company 440 Nunhems USA, Inc. 441 Odyssey Thera, Inc. 442 Onyx Pharmaceuticals, Inc. 443 Pallas North America Insurance Company, Inc. 444 Paratek Pharmaceuticals, Inc. 445 PO JV, LP 446 SB Capital Corporation 447 Schering Berlin Inc. 448 Schering Berlin Venture Corporation 449 Scynexis, Inc. 450 Stoneville Pedigreed Seed Company 451 STWB Inc. 452 Technology JV, L.P. 453 The SDI Divestiture Corporation 454 Viterion TeleHealthcare LLC 455 Bayer SA 456 Bayer S.A. 457 Bayer Vietnam Limited 458 Bayer |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
46300000 |
Equity Shares |
Rs.10/- each |
Rs.463.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
39498747 |
Equity Shares |
Rs.10/- each |
Rs.394.987 millions |
Note:
(a) Of the above, 12,632,500 (Previous Year 12,632,500) Equity Shares of Rs. 10 each are allotted as fully paid-up Bonus Shares by way of capitalisation of Capital Reserve, Premium received on Shares and General Reserve.
(b) Pursuant to the Scheme of Amalgamation of erstwhile Bayer Cropscience India Limited with the Company, 23,278,747 Equity Shares of Rs.10 each have been issued and allotted as fully paid-up to the Shareholders of erstwhile Bayer Cropscience India Limited without payment being received in cash.
(c) 28,086,662 (Previous Year 28,086,662) Equity Shares of
Rs. 10 each are held by Bayer AG,
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
394.987 |
394.987 |
394.987 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
5202.938 |
4114.639 |
3299.436 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
5597.925 |
4509.626 |
3694.423 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
14.906 |
23.064 |
133.022 |
|
|
2] Unsecured Loans |
1124.843 |
403.882 |
559.082 |
|
|
TOTAL BORROWING |
1139.749 |
426.946 |
692.104 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6737.674 |
4936.572 |
4386.527 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2921.096 |
2594.966 |
2366.885 |
|
|
Capital work-in-progress |
287.359 |
105.832 |
112.040 |
|
|
|
|
|
|
|
|
INVESTMENT |
628.175 |
102.163 |
603.324 |
|
|
DEFERREX TAX ASSETS |
66.118 |
144.062 |
165.089 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3479.998
|
3236.805
|
2018.151
|
|
|
Sundry Debtors |
1976.014
|
1995.768
|
1808.703
|
|
|
Cash & Bank Balances |
153.514
|
183.373
|
275.767
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
1182.851
|
1009.355
|
1052.878
|
|
Total
Current Assets |
6792.377
|
6425.301 |
5155.499
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2640.453
|
3359.149 |
|
|
|
Other Current Liabilities |
882.400
|
712.708
|
3712.130
|
|
|
Provisions |
434.598
|
370.535
|
304.180
|
|
Total
Current Liabilities |
3957.451
|
4435.752 |
4016.310
|
|
|
Net Current Assets |
2834.926
|
1989.549 |
1139.189
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6737.674 |
4936.572 |
4386.527 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
16247.619 |
13940.049 |
11633.517 |
|
|
|
Other Operating Income |
993.444 |
885.863 |
0.000 |
|
|
|
Other Income |
252.525 |
215.632 |
980.090 |
|
|
|
TOTAL (A) |
17493.588 |
15041.544 |
12613.607 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material consumed |
3855.839 |
3894.287 |
|
|
|
|
Cost of traded goods sold |
6627.115 |
5475.083 |
|
|
|
|
Employees cost |
1411.231 |
1343.374 |
|
|
|
|
Other expense |
3033.201 |
2845.133 |
|
|
|
|
Profit before exceptional items and taxation |
86.785 |
60.325 |
|
|
|
|
Increase/ decrease in stock |
122.235 |
(451.102) |
|
|
|
|
TOTAL (B) |
15136.406 |
13167.100 |
11597.314 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2357.182 |
1874.444 |
1016.293 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
128.316 |
126.256 |
75.507 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2228.866 |
1748.188 |
940.786 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
264.419 |
239.921 |
261.223 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1964.447 |
1508.267 |
679.563 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
691.912 |
563.672 |
188.538 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1272.535 |
944.595 |
491.025 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3070.989 |
2350.246 |
NA |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
4343.524 |
3294.841 |
NA |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Recoveries from Group Companies |
629.455 |
490.385 |
283.880 |
|
|
TOTAL EARNINGS |
|
|
|
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw and Packing Material |
3483.283 |
3005.805 |
2377.635 |
|
|
|
Traded Goods |
15.480 |
9.027 |
0.000 |
|
|
|
Stores, Spares and Components |
1.442 |
2.935 |
14.192 |
|
|
|
Capital Goods |
91.646 |
60.846 |
11.495 |
|
|
TOTAL IMPORTS |
3591.851 |
3078.613 |
2403.322 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
32.22 |
23.91 |
12.43 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
30.06.2010 |
30.09.2010 |
|
Type |
|
1st
Quarter |
2nd
Quarter |
|
Net Sales |
|
7206.800 |
6507.300 |
|
Total Expenditure |
|
6442.500 |
5482.900 |
|
PBIDT (Excl OI) |
|
764.300 |
1024.400 |
|
Other Income |
|
57.100 |
45.500 |
|
Operating Profit |
|
821.400 |
1069.900 |
|
Interest |
|
12.500 |
21.000 |
|
Exceptional Items |
|
(8.600) |
(4.700) |
|
PBDT |
|
800.300 |
1044.200 |
|
Depreciation |
|
66.000 |
80.000 |
|
Profit Before Tax |
|
734.300 |
964.200 |
|
Tax |
|
243.200 |
324.300 |
|
Profit After Tax |
|
491.100 |
639.900 |
|
Net Profit |
|
491.100 |
639.900 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
7.27
|
6.28 |
3.89
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.39
|
10.17 |
5.84
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.22
|
16.72 |
9.03
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.33 |
0.18
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.91
|
1.08 |
1.27
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.17
|
1.45 |
1.28
|
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Sundry Creditors |
|
|
|
|
Due to Micro and Small Enterprises |
12.210 |
15.056 |
NA |
|
Due to Creditors other than Micro and Small Enterprises |
2628.243 |
3344.093 |
NA |
|
Total |
2640.453 |
3359.149 |
NA |
HISTORY:
Subject is a world leader in the areas of crop protection,
pest control, seeds and plant biotechnology. The company offers comprehensive solutions
for modern, sustainable agriculture and non-agricultural applications. The
company operates in the area of Crop Protection, Environmental Science and
BioScience. The company develops and markets fungicides, insecticides,
herbicides, and seed treatment products. They use plant biotechnology and
breeding to offer solutions for agriculture, nutrition, health and
biomaterials. They have their production facilities at Thane in Maharashtra,
Himatnagar and Ankleshwar in
The company was formerly known as Bayer (
In 1993, the company entered into a strategic alliance with Herdillia Chemicals
to manufacture diphyl heat transfer medium. During 1998-99, Jagat Chemicals, a
100% subsidiary was amalgamated with the company with effect from January 1,
1999. Sales and marketing operations of the Pharma Business Group were
discontinued during the month of August 2000 and are now being handled by a new
subsidiary of Bayer AG in
Subject was amalgamated with the company with effect form April 1, 2003. The
company sold the assets of the Household Insecticide Business of the Consumer
Care Division of the company to S C Johnson Products Limited. The company
incorporated a wholly owned subsidiary named Bayer Polychem (
In the year 2004, the company had entered into an agreement with BASF India
Limited for the transfer of the Fipronil activities to BASF India. The chemical
business and part of the polymers business of Bayer Polychem (
During the year 2006, the company successfully launched two products namely
Admire 70WG, an Insecticide for sucking pests in various crops and Dadeci, an
Insecticide for brown plant hopper control in Rice. In June 2007, the company
sold the shares of their subsidiary company Bayer Polychem India Limited to
Bayer Material Science Private Limited for the consideration of Rs39.000
Millions.
Operations:
The Company’s profit after tax increased to Rs.1, 272.54 million during
the year ended 31st March, 2010 as compared to Rs. 944.59 million in previous
year, an increase of 34.72%.
Exports:
The Company is a recognised Export House. The export turnover (FOB)
during the year ended 31st March 2010 was Rs. 1,518.46 million compared to Rs.
1,695.43 million during the previous year.
Management
Discussion and Analysis Report
OVERVIEW
Indian economic growth is in a state of dynamic progression. Despite
signs of recovery from the global financial crisis, the GDP growth rate for the
Indian economy is estimated to be at 6.7% in 2008-09 according to the Central
Statistical Organisation. While there has been an improvement in Indian
industry, particularly the manufacturing sector, the adverse impact of the fall
in Kharif production due to rainfall deficiency acted as a drag on the overall
growth of the economy. The advance estimates for GDP growth for 2009-10 were
pegged at 7.2%. A major concern during the second half of 2009-10 has been the
emergence of double digit food inflation. The Government of India has set in
motion, steps to bring down the inflation in the next few months and ensure that
there is better management of food security in the country. The three key
sectors i.e. agriculture, industry and services witnessed deceleration in
growth rate in 2008-09. The agricultural growth rate declined to 1.6% as
against 4.7% during 2007-08.The agricultural sector is likely to show a decline
of 0.2% in its GDP during 2009-10, as against the previous year’s growth rate
of 1.6%. Production of food grains and oilseeds is expected to decline by 8%
and 5%, respectively, as compared to the previous year. While production of
cotton is expected to rise by 0.2%, that of sugarcane is expected to decline by
11.8% in 2009-10. Among the horticultural crops, production of fruits and
vegetables is expected to increase by 2.5% and 4.8%, respectively during the year
2009-10. In order to give a further boost to the agricultural sector, the
Government of India is committed to follow a four-pronged strategy covering
agricultural production, reduction in wastage of produce, credit support to
farmers and impetus to the food processing sector. A ‘Nutrient Based Subsidy’
policy for the fertilizer sector has been approved by the Government of India
and the same has become effective from 1st April, 2010. The above initiatives
coupled with private sector participation, which according to industry
estimates have shown a marked improvement over the last few years, are expected
to propel the growth of Indian agricultural sector going forward in 2010-11.
INDUSTRY STRUCTURE
AND DEVELOPMENT
The year 2009-10 witnessed a growth in the Indian crop protection market
by 14.2% despite the monsoon being significantly below normal and rapid price
reduction of many generic molecules. The main reason for increased growth has
been the positive development in the area of commodity prices which motivated
farmers to use higher inputs to protect their crops. The demand for fruits and
vegetables continued to rise resulting in increased income for the farmers and
driving the need for quality crop protection products. Increasing awareness
among the farmers about the quality of the produce led to enhanced consumption
of fungicides. Worsening labour shortage and growing cost of labour also led to
increased herbicide usage. According to industry analysts, despite the existing
factors, one encouraging trend that has been consistently supporting the growth
of innovation-driven companies is faster adoption of new chemistry molecules.
New, more effective and environmentally safe chemistry molecules are being
widely accepted by the farmers across the country for use in various crops.
This trend underlines the importance of innovation and new product development
for sustainable growth in the agri-inputs market. Under Environmental Science
Division, Public Health business segment in
REVIEW OF
FINANCIAL AND OPERATIONAL PERFORMANCE
The net sales and other operating income for the year ended 31st March,
2010 amounted to Rs. 17,241.06 million as compared to Rs. 14,825.91 million for
the last financial year and profit after tax for the year increased to Rs.
1,272.54 million as against Rs. 944.59 million for the last financial
year. The Company has successfully harnessed positive
trends in the market due to its innovation-based business model. This year
The Company launched new products viz.,
Confidor Super, Jump, Melody Duo and Oberon, which have been well accepted by
the consumers. The Company’s blockbuster product FAME has performed very well
during the year. New segments have opened up for this product further expanding
its growth potential. All the recently launched products have contributed to
the Company’s growth, with their contribution reaching more than one-third of
this year’s business. A successful transformation into a truly integrated
player offering the holistic ‘Seed to Harvest’ solutions helped the Company to
meet a plethora of customer requirements through a common distribution channel.
Unique packages have also been developed to include seeds and appropriate crop
protection products. The integrated model has also provided a wider
distribution channel to the seed portfolio resulting in significant volume
growth. The Company also implemented a
unique internal campaign called ‘Passion to Lead’ during the year, to
constantly motivate the employees to capture opportunities in the market and
outperform the competition. Employee communication through internal bulletins,
recognition schemes and best practice sharing has successfully driven the
message of ‘Passion to Lead’ among the employees across all functional areas.
The Food Chain Partnership initiative made significant progress with addition
of new partners. This initiative ensures that farmers get better prices for
their produce, less transit losses are incurred and at the same time consumers
pay less for better quality food. The
Company is not only innovative in terms of new product development, but
also very progressive in its business philosophy. The Company has always been
steadfast in staying in the forefront of the industry and adopting newer
business approaches that add value to its customers and stakeholders. With the
same commitment, the Company implements various initiatives from time to time
to support business generation activities and further add to its competitive
edge. The Environmental Science Division maintains its position as the market
leader in the segments of public health and professional pest control. The Company continues to sponsor major symposia and
seminars to promote general awareness, product knowledge and international
trends in vector-borne disease management. Several techno-commercial training
programmes on safe use and handling of products were conducted during the year.
In the PPC segment, The Company has
established a business tie-up with an international player. The Company
participated in the annual convention of India Pest Control Association and
supported its activities besides supporting Pest Control Association of India,
another professional organisation of Pest Management Professionals. This close
association with professional bodies enabled The Company to build loyalty. The sales in the
segment have increased due to market growth and various activities carried out
by the Company.
OPPORTUNITIES AND
OUTLOOK
The outlook for the research driven innovative crop protection companies
continues to remain positive, especially with the strengthening Intellectual
Property Rights regulations in the country and a growing acceptance of new
chemistry molecules amongst the farmers. According to industry estimates, in
the long term, the market will continue to grow at a healthy rate. The
consumption of pesticides will increase with higher usage in the low input
regions and the value growth will be mainly driven by the introduction of superior
molecules. Significant market growth is expected in the herbicides and
fungicides segments. More non-agricultural employment opportunities in rural
areas due to the progressive government policies and actions, along with high
economic growth are expected to influence labour availability for agricultural
operations. Consequently, utilisation of selective and non-selective herbicides
will get a major impetus. Increasing integration of the food supply chain and
rising quality consciousness among the consumers will have a major impact on
the market. It will not only augment the fungicides consumption, but also
create more opportunities for the crop protection products in the fruits and
vegetables cultivation. The Company is
strongly positioned in all the market segments and therefore will benefit from
all the growth trends. The Company’s
strong product pipeline is aligned with the developments in the market. The
innovation focus will also help The
Company to stay ahead of its competition in the market, by way of
business excellence initiatives which make use of the latest information
technology platforms to ensure high value delivery to the customers. Under the
Environmental Science Division, the growing awareness of vector-borne diseases
in the Public and Government Agencies is an opportunity in addition to the
international funding provided by donors. Resistance to DDT and organophosphate
chemicals by mosquitoes is an opportunity for The Company to promote synthetic pyrethroids. In
the larvicides segment, The Company
would soon be launching an Insect Growth Regulator product which will cater to
the need of such products in the market.
In the PPC segment, growth and opportunities are seen in sub segments of
termiticides and general pest control. The continued demand for eco-friendly
and safer formulations in this segment is seen as an opportunity for The Company. The partnership with leading pest
control operators is ongoing.
FIXED ASSETS:
Ř
Ř
Ř
Buildings
Ř
Plant
and Machinery
Ř
Office
Equipment
Ř
Computers
Ř
Furniture
and Fixtures
Ř
Vehicles
UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER ENDED ON 30TH SEPTEMBER 2010
Rs. in
Millions
|
Particular |
Quarter Ended on 30th September 2010 |
Year to Date Figures for Period Ended 30th September
2010 |
|
|
|
|
|
(a) Net Sales / Income from operations |
6249.300 |
13213.700 |
|
(b) Other Operating Income |
258.000 |
500.400 |
|
Total Income |
6507.300 |
13714.100 |
|
Expenditure |
|
|
|
a) (Increase) / Decrease in stock in trade and work in
progress |
811.300 |
(248.100) |
|
b) Consumption of raw materials |
1089.200 |
1980.100 |
|
c) Purchase of traded goods |
2072.400 |
7318.600 |
|
d) Employees cost |
422.700 |
857.700 |
|
e) Depreciation |
80.000 |
146.000 |
|
f) Other expenditure |
1087.300 |
2017.100 |
|
Total |
5562.900 |
12071.400 |
|
Profit from operations before other income, interest and
exceptional Items |
944.400 |
1642.700 |
|
Other income |
45.500 |
102.600 |
|
Profit before interest and exceptional Items |
989.900 |
1745.300 |
|
Interest |
21.000 |
33.500 |
|
Profit
after Interest but before Exceptional Items |
968.900 |
1711.800 |
|
Exceptional Items |
|
|
|
Demolition and remediation expenditure |
4.700 |
13.300 |
|
Voluntary retirement expenditure |
-- |
-- |
|
Profit
(+)/Loss(-) from Oridinary Activities before tax |
964.200 |
1698.500 |
|
Tax expense |
324.300 |
567.500 |
|
Net
Profit (+)/Loss(-) from Ordinary Activities after tax |
639.900 |
1131.000 |
|
Paid up equity share capital (Face value of Rs.10/- per
share) |
395.000 |
395.000 |
|
Reserves excluding revaluation reserves as per balance
sheet of previous accounting year |
-- |
-- |
|
Earning per share (EPS) |
|
|
|
(a)
Basic and diluted EPS before Extraordinary items for the
period, for the year to date and for the previous
year (not to be annualised) |
16.20 |
28.63 |
|
(a)
Basic and diluted EPS before Extraordinary items for
the period, for the year to date and for the previous
year (not to be annualised) |
16.20 |
28.63 |
|
Public shareholding |
|
|
|
Number of
shares |
11412085 |
11412085 |
|
Percentage
of shareholding |
28.89 |
28.89 |
|
|
|
|
|
Promoters and Promoters group Shareholding- |
|
|
|
a) Pledged /Encumbered |
|
|
|
Number of shares |
Nil |
Nil |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
Nil |
Nil |
|
Percentage of shares (as a % of total share capital of the
company) |
Nil |
Nil |
|
|
|
|
|
b) Non Encumbered |
|
|
|
Number of shares |
28086662 |
28086662 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
100.00 |
100.00 |
|
Percentage of shares (as a % of total share capital of the
company) |
71.11 |
71.11 |
Note:
- The company has only one reportable business segment, i.e. “Agri
Care”. The company’s business is seasonal in nature and hence quarterly
figures are not representative of the fully year performance.
- Consistent with past practice, sales for the six months ended 30th
September, 2010 are net of estimated returns of Rs.368.700 millions (April
– September 2009 Rs.412.300 millions), in respect of seasonal sales, which
in management opinion may need to be reviewed dependent on future
circumstances. Sales returns are accounted at actual at the financial year
end.
- The Bayer Companies worldwide place great importance on protecting
the environment and conserving natural resources, pursuant to the
cessation of manufacturing activities at Thane, the company has incurred
expenses towards demolition and remediation activities. These ongoing
activities will allow the Thane site to be left in safe state with human
health and environmental risks mitigated to generally accepted levels in
industrialized countries.
- There were no investors complaints pending at the beginning and at
the end or the quarter. The company has received three investors
complaints during the quarter and have been resolved.
SEGMENT OF ASSETS
AND LIABILITIES
|
|
|
Rs
in Millions |
|
Particulars |
Quarter ended |
|
|
As on 30.09.2010
|
||
|
(Unaudited) |
||
|
|
|
|
|
SHAREHOLDERS FUNDS |
|
|
|
Share Capital |
395.000 |
|
|
Reserves & Surplus |
6333.800 |
|
|
LOAN FUNDS |
1829.700 |
|
|
|
|
|
|
DEFERRED TAX LIABILITIES |
0.000 |
|
|
|
|
|
|
TOTAL |
8558.500 |
|
|
|
|
|
|
FIXED ASSETS |
3420.100 |
|
|
INVESTMENT |
2.100 |
|
|
DEFERRED TAX ASSETS |
110.600 |
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
Inventories |
3598.700 |
|
|
Sundry Debtors |
5484.000 |
|
|
Cash & Bank Balances |
459.900 |
|
|
Other Current Assets |
0.000 |
|
|
Loans & Advances |
789.600 |
|
|
|
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
Other Current Liabilities |
4944.500 |
|
|
Provisions |
362.000 |
|
|
|
|
|
|
TOTAL |
8558.500 |
|
Note:
- Fixed assets include land costing Rs.915.400 millions located at
Village Balkum, Thane for which approval to transfer and or otherwise dispose
off the whole or substantially the whole/ part of the land with or without
assets attached thereto is obtained from the board of directors on 19th
July, 2010 and the shareholders of the company through postal ballot on 20th
September, 2010
- The above results have been reviewed and recommended by the audit
committee and approved by the board of directors of the company at its
meeting held on 25th October, 2010 and the statutory auditors
have carried out a limited review of the results for the quarter ended 30th
September, 2010
- Previous period figures have been regrouped wherever necessary.
AS PER WEBSITE DETAILS:
PROFILE:
Bayer Group of Companies in
Subject is a global enterprise
with core competencies in the fields of health care, nutrition and high-tech
materials. Their products and services are designed to benefit people and
improve their quality of life. At the same time they want to create value through innovation,
growth and high earning power.
They are firmly aligned to their mission
statement “Bayer: Science For A Better Life” and continue to optimize
their portfolio, concentrating their activities in three high-potential, efficient
subgroups with largely independent operations: HealthCare, CropScience and
MaterialScience. These provide us with access to major global growth markets
and are supported by their service
companies.
Bayer HealthCare
operates in three business areas – Pharmaceuticals, Diabetes Care and Animal
Health. The aim of Bayer HealthCare is to discover and manufacture innovative
products that will improve human and animal health worldwide. Their products
enhance well-being and quality of life by diagnosing, preventing and treating
disease.
Bayer CropScience
operates in three business segments: Crop Protection, BioScience and
Environmental Science - offering an outstanding range of products and extensive
service backup for modern, sustainable agriculture as well as for
non-agricultural applications.
Bayer
MaterialScience is one of the world's leading manufacturers of innovative,
high-performance materials for applications in numerous areas of their daily
life. A large proportion of sales are generated by products occupying leading
positions on the world market.
Bayer Business
Services is Bayer Group’s competence center for IT-based services and is a
global company. Bayer Business Services in
Bayer Technology
Services is a major global technology provider with wide-ranging, recognized
expertise. The company delivers fully-integrated solutions to cover the life
cycle of plants and processes. Bayer Technology Services has the expertise
necessary to support the production units it builds throughout their service
life from the initial idea and basic calculations, to engineering and construction
anywhere in the world, to start-up chemical and pharmaceutical manufacturing
units. As a global supplier of future-proof and market-oriented technology
solutions for the chemical and pharmaceutical industries, the company ensures
that its customers are fit for the future and use technological integration and
holistic expertise to create lasting competitive advantages.
As an inventor company, they plan to
continue setting trends in research-intensive areas. Innovation is the
foundation for competitiveness and growth, and thus for their company’s success in the future.
They are committed to the principles of
sustainable development, and to their
role as a socially and ethically responsible corporate citizen. At
Bayer, they regard economy, ecology and
social commitment as objectives of equal rank.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.45.30 |
|
|
1 |
Rs.71.73 |
|
Euro |
1 |
Rs.60.40 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
75 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.