1. Summary Information
|
|
|
Country |
|
|
Company Name |
SMS
PHARMACEUTICALS LIMITED |
Principal Name 1 |
Mr. Potluri Ramesh Babu |
|
Status |
Good |
Principal Name 2 |
Mr. TVVSN Murthy |
|
|
|
Registration # |
55-008066 |
|
Street Address |
Plot No.19-III,
Room No.71, |
||
|
Established Date |
14.12.1987 |
SIC Code |
-- |
|
Telephone# |
91-40-66288888 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-40-23551402/01 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Ranitidine HCL |
|
|
# of employees |
500 (Approximately) |
Product Name 2 |
Sumatriptan Succinate |
|
Paid up capital |
Rs.
100,152,000/- |
Product Name 3 |
Ketoconazole |
|
Shareholders |
Shareholding of Promoter and Promoter Group – 54.03% Public Shareholding – 45.97% |
Banking |
Axis Bank
Limited |
|
Public Limited Corp. |
YES |
Business Period |
24 Years |
|
IPO |
Yes |
International Ins. |
- |
|
Public |
YES |
Rating |
A
(59) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
899,376,000 |
Current Liabilities |
416,049,000 |
|
Inventories |
757,704,000 |
Long-term Liabilities |
1,633,172,000 |
|
Fixed Assets |
2,167,830,000 |
Other Liabilities |
169,501,000 |
|
Deferred Assets |
0 |
Total Liabilities |
2,218,722,000 |
|
Invest& other Assets |
527,815,000 |
Retained Earnings |
2,033,851,000 |
|
|
|
Net Worth |
2,134,003,000 |
|
Total Assets |
4,352,725,000 |
Total Liab. & Equity |
4,352,725,000 |
|
Total Assets (Previous Year) |
3,983,775,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
2,197,551,000 |
Net Profit |
23,954,000 |
|
Sales(Previous yr) |
2,447,867,000 |
Net Profit(Prev.yr) |
62,985,000 |
MIRA
INFORM REPORT
|
Report Date : |
02.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
SMS PHARMACEUTICALS LIMITED (w.e.f. 12.04.2004) |
|
|
|
|
Formerly Known
As : |
SMS PHARMACEUTICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.19-III, Room No.71, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
14.12.1987 |
|
|
|
|
Com. Reg. No.: |
55-008066 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 100.152 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24239AP1987PLC008066 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDSO1258F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCS2221D |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company Shares are Listed on
The Stock Exchange. |
|
|
|
|
Line of Business
: |
Manufacturer of active pharma ingredients and pharmaceutical
intermediates. |
|
|
|
|
No. of Employees : |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (59) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 8500000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having fine track. Financial
position of the company appears to be sound. 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
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Rajendra Prasad |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-40-66288888 |
|
Date : |
26.02.2011 |
LOCATIONS
|
Registered Office / Factory : |
Plot No.19-111, Room No.71, |
|
Tel. No.: |
91-40-66288888 |
|
Fax No.: |
91-40-23551402/01 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
10000 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Plant Locations : |
Unit- I Sy. No. 180/2, Kazipally (Village), Jinnaram
Mandal, Medak (District) – 502319, Unit- II Plot No. 24 and 24B, S.V. Phone : 040-65986691 Fax : 040-23040981 Email : unit2@smspharma.com Unit- III Plot No. D-63, Phase-1, I.D.A., Jeedimetla, Hyderabad-500 055, Phone : 040-23096380 Email : unit3@smspharma.com Unit- IV Plot No. 66/B-D, Phase-1, IDA Jeedimetla, Hydrabad-500 055, Phone : 040-23095151 Fax No. : 040-23735639 Email : unit4@smspharma.com Unit- V Sy. No. 296/7/4, I.D.A., Via Miyapur, Phone : 040-64547975 Email : unit5@smspharma.com Unit- VI Plot No. 28, Phone : 091-9949887739 Email : parawada@smspharma.com Unit- VII Sy. No.161, 163 to 166, Kandivalasa (Village), Poosapatirega (Mandal),
Vijayanagaram – 535204, Phone : 08922-258051 Fax : 08922-258052 Email : kandivalasa@smspharma.com
Research and S.No. 186, 189, 190, Research and C-23, Industrial Estate, Santhnagar, |
DIRECTORS
As On 29.09.2010
|
Name : |
Mr. Potluri Ramesh Babu |
|
Designation : |
Chairman and Managing Director |
|
Address : |
Plot No.265 Q, Road No.12, Jubilee Hills, Hyderabad-500033, |
|
Date of Birth/Age : |
01.10.1958 |
|
Date of Appointment : |
30.08.1990 |
|
DIN No : |
00166381 |
|
|
|
|
Name : |
Mr. TVVSN Murthy |
|
Designation : |
Vice- Chairman and Joint Managing Director |
|
Address : |
Plot No.10-C, “C” Type, Road No.8, Film Nagar, Hyderabad-500033, |
|
Date of Birth/Age : |
10.02.1960 |
|
Date of Appointment : |
30.08.1990 |
|
DIN No : |
00465198 |
|
|
|
|
Name : |
Mr. Achanta Pitcheswara Rao |
|
Designation : |
Director |
|
Address : |
A-4, |
|
Date of Birth/Age : |
16.08.1941 |
|
Date of Appointment : |
21.11.1994 |
|
DIN No : |
00027847 |
|
|
|
|
Name : |
Dr. Mihir K. Chaudhuri |
|
Designation : |
Director |
|
Address : |
Vice-Chancelor’s Buglow, Tezpur Univesity Campus, Tezpur,
Nappam-784028, |
|
Date of Birth/Age : |
21.07.147 |
|
Date of Appointment : |
18.11.2004 |
|
DIN No : |
00489843 |
|
|
|
|
Name : |
Dr. B. M. Choudary |
|
Designation : |
Director |
|
Address : |
312, New Mla and MP Colony Road No.10C, Jubilee Hills,
Hyderabad-500033, |
|
Date of Birth/Age : |
10.08.1946 |
|
Date of Appointment : |
29.05.2005 |
|
DIN No : |
00463723 |
|
|
|
|
Name : |
Mr. K. Subramanyeswara Rao |
|
Designation : |
Director |
|
Address : |
7-1-636/26, Model Colony, SR Nagar, Hyderabad-500038, |
|
Date of Birth/Age : |
10.08.1942 |
|
Date of Appointment : |
29.05.2005 |
|
DIN No : |
00038416 |
|
|
|
|
Name : |
Mr. Sarvepalli Srinivas |
|
Designation : |
Nominee Director of Exim Bank |
|
Address : |
53-T, 710, MSO Colony, |
|
Date of Birth/Age : |
29.06.1962 |
|
Date of Appointment : |
30.07.2008 |
|
DIN No : |
02292051 |
|
|
|
|
Name : |
Mr. Ayman Sahli |
|
Designation : |
Nominee Director of Exim Bank |
|
Address : |
Villa D-65, |
|
Date of Birth/Age : |
04.05.1963 |
|
Date of Appointment : |
30.04.2009 |
|
DIN No : |
02680724 |
KEY EXECUTIVES
|
Name : |
Mr. Pendyala Prabhakar Rao |
|
Designation : |
Company Secretary |
|
Address : |
12-2-418/3/16, Visas Nagar Colony, Mehdipatnam, Hyderabad-500028, |
|
Date of Birth/Age : |
15.07.1938 |
|
Date of Appointment : |
01.10.2009 |
|
PAN No : |
ADFPP2007G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 31.03.2011
|
Names of
Shareholders |
No. of Shares |
Percentage of Holding |
|
(A) Shareholding of
Promoter and Promoter Group |
|
|
|
|
|
|
|
|
4,824,933 |
48.18 |
|
|
586,000 |
5.85 |
|
|
5,410,933 |
54.03 |
|
|
|
|
|
Total shareholding of
Promoter and Promoter Group (A) |
5,410,933 |
54.03 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
42,114 |
0.42 |
|
|
70,000 |
0.70 |
|
|
112,114 |
1.12 |
|
|
|
|
|
|
813,718 |
8.12 |
|
|
|
|
|
|
1,344,166 |
13.42 |
|
|
1,392,144 |
13.90 |
|
|
942,128 |
9.41 |
|
|
38,359 |
0.38 |
|
|
900,000 |
8.99 |
|
|
372 |
- |
|
|
3,397 |
0.03 |
|
|
4,492,156 |
44.85 |
|
Total Public
shareholding (B) |
4,604,270 |
45.97 |
|
Total (A)+(B) |
10,015,203 |
100.00 |
|
(C) Shares held by Custodians
and against which Depository Receipts have been issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
- |
- |
|
Total (A)+(B)+(C) |
10,015,203 |
- |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs.0.100 MillionsBUSINESS DETAILS
|
Line of Business : |
Manufacturer of active pharma ingredients and pharmaceutical
intermediates. |
||||||||
|
|
|
||||||||
|
Products : |
|
||||||||
|
|
|
||||||||
|
Terms : |
|
||||||||
|
Selling : |
Cash, Credit (30 days / 60 days / 90 days) |
||||||||
|
|
|
||||||||
|
Purchasing : |
Cash, Credit (30 days / 60 days / 90 days) |
GENERAL INFORMATION
|
Customers : |
v End Users v OEM’s |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
500 (Approximately) |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
v Axis Bank
Limited, 5-2-183/184, 875 (Old), Credit Management Centre, III rd Floor, v State Bank of v Exim Bank v IDBI Bank
Limited |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rambabu and Company Chartered Accountant |
|
Address : |
6-3-1090/1/1, 31, Pancom Chambers, Rajbhavani Road, Hyderabad-500082, |
|
Tel No : |
91-40-23326666 |
|
Fax No : |
91-40-23392474 |
|
Email : |
CAPITAL STRUCTURE
As on: 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs. 10/- each |
Rs. 120.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10015203 |
Equity Shares |
Rs. 10/- each |
Rs. 100.152
millions |
|
|
|
|
|
Notes:
(Out of the above
28,50,000 shares of Rs.10/- each were alloted as fully paid up Bonus Shares and
29,35,978 Shares were alloted for consideration other than cash)
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 |
100.152 |
100.152 |
100.152 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2033.851 |
2021.576 |
1982.025 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2134.003 |
2121.728 |
2082.177 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1559.528 |
1298.809 |
824.146 |
|
|
2] Unsecured Loans |
73.644 |
73.644 |
93.151 |
|
|
TOTAL BORROWING |
1633.172 |
1372.453 |
917.297 |
|
|
DEFERRED TAX LIABILITIES |
169.501 |
169.501 |
158.939 |
|
|
|
|
|
|
|
|
TOTAL |
3936.676 |
3663.682 |
3158.413 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2167.830 |
872.423 |
712.004 |
|
|
Capital work-in-progress |
369.791 |
1204.396 |
854.090 |
|
|
|
|
|
|
|
|
INVESTMENT |
5.165 |
5.165 |
5.165 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
757.704
|
719.264 |
635.516 |
|
|
Sundry Debtors |
483.161
|
491.259 |
519.141 |
|
|
Cash & Bank Balances |
52.489
|
203.744 |
233.708 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
363.726
|
296.389 |
361.869 |
|
Total
Current Assets |
1657.080
|
1710.656 |
1750.234 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
391.809 |
283.716 |
228.024 |
|
|
Other Current Liabilities |
7.561
|
3.143 |
2.777 |
|
|
Provisions |
16.679
|
33.234 |
113.061 |
|
Total
Current Liabilities |
416.049
|
320.093 |
343.862 |
|
|
Net Current Assets |
1241.031
|
1390.563 |
1406.372 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
152.859 |
191.135 |
180.782 |
|
|
|
|
|
|
|
|
TOTAL |
3936.676 |
3663.682 |
3158.413 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2197.551 |
2447.867 |
2104.067 |
|
|
|
Other Income |
24.361 |
4.052 |
50.546 |
|
|
|
TOTAL (A) |
2221.912 |
2451.919 |
2154.613 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Consumed |
1552.745 |
1812.797 |
1424.037 |
|
|
|
Manufacturing Expenses |
190.293 |
146.720 |
148.167 |
|
|
|
Personal Expenses |
99.279 |
101.763 |
83.152 |
|
|
|
Increase/(Decrease) in Finished Goods |
(50.938) |
(40.749) |
(93.297) |
|
|
|
Selling and Distribution Expenses |
63.409 |
57.767 |
48.402 |
|
|
|
Misc. Expenditure Written Off |
76.050 |
75.630 |
65.598 |
|
|
|
Administrative Expenses |
43.032 |
59.839 |
34.377 |
|
|
|
TOTAL (B) |
1973.870 |
2213.767 |
1710.436 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
248.042 |
238.152 |
444.177 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
135.585 |
95.904 |
68.654 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
112.457 |
142.248 |
375.523 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
83.648 |
62.791 |
51.795 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
28.809 |
79.457 |
323.728 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
4.855 |
16.472 |
52.121 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
23.954 |
62.985 |
271.607 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
195.255 |
165.705 |
317.534 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
10.000 |
10.000 |
400.000 |
|
|
|
Dividend |
10.015 |
20.030 |
20.030 |
|
|
|
Tax on Dividend |
1.663 |
3.404 |
3.404 |
|
|
BALANCE CARRIED
TO THE B/S |
197.531 |
195.256 |
165.707 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1102.219 |
851.421 |
507.575 |
|
|
TOTAL EARNINGS |
1102.219 |
851.421 |
507.575 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
342.844 |
396.984 |
227.399 |
|
|
|
Capital Goods |
32.109 |
15.033 |
49.949 |
|
|
TOTAL IMPORTS |
374.953 |
412.017 |
277.348 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.39 |
6.29 |
27.15 |
|
QUARTERLY RESULTS
(Rs.
In Millions)
|
PARTICULARS |
30.06.2010 |
30.09.2010 |
31.12.2010 |
31.03.2011 |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
4th
Quarter |
|
Net Sales |
468.370 |
512.580 |
565.430 |
695.790 |
|
Total Expenditure |
370.140 |
427.470 |
456.600 |
616.950 |
|
PBIDT (Excl OI) |
98.230 |
85.110 |
108.830 |
78.840 |
|
Other Income |
2.500 |
11.710 |
5.890 |
15.060 |
|
Operating Profit |
100.740 |
96.820 |
114.730 |
93.900 |
|
Interest |
48.860 |
37.090 |
43.360 |
46.740 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
PBDT |
51.870 |
59.730 |
71.370 |
47.160 |
|
Depreciation |
29.010 |
33.360 |
31.630 |
31.810 |
|
Profit Before Tax |
22.860 |
26.370 |
39.740 |
15.350 |
|
Tax |
4.500 |
5.300 |
8.000 |
3.200 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
18.360 |
21.070 |
31.740 |
12.150 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
18.360 |
21.070 |
31.740 |
12.150 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.08
|
2.57 |
12.61 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.31
|
3.25 |
15.39 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.75
|
3.08 |
13.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.04 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.04
|
0.88 |
0.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.98
|
5.34 |
5.09 |
LOCAL AGENCY FURTHER INFORMATION
Note: Registered Office
of the company has been shifted from 417, Nilgiri, Aditya Enclave, Ameerpet,
Hyderabad-500038,
MANAGEMENT
DISCUSSION AND ANALYSIS
Economic overview
Global economic growth
- having been severely affected by the worldwide recession 2008 – is expected
to recover from a negative 0.8% in 2009 to 3.9% in 2010 and 4.3% in 2011
following monetary fiscal support, improved investor confidence and emerging
market recovery (Source: The International Monetary Fund). India outperformed
the global average in 2009-10 with a GDP of USD 1,217 billion (1.96% of the
world economy) growing at 7.4% (Source: World Bank) following a Government
stimulus package, tax cuts, increased infrastructure spending and lower
interest rates.
Outlook
With several
international pharmaceutical companies slated to make investments in
FORM 8
|
Corporate
identity number of the company |
L24239AP1987PLC008066 |
|
Name of the
company |
SMS
PHARMACEUTICALS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No.19-111, Room No.71, |
|
This form is for |
Modification of charge |
|
Type of charge |
Immovable property Book debts |
|
Particular of charge
holder |
Axis Bank Limited, 5-2-183/184, 875 (Old), Credit Management Centre,
III rd Floor, |
|
Nature of
instrument creating charge |
Link
document for earmarking of limit and interchangeability. |
|
Date of
instrument Creating the charge |
12.11.2010 |
|
Amount secured by
the charge |
Rs.400.000 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest No change
in previous terms and conditions. Terms of
repayment 19
Quarterly installments of Rs.20.000 millions each starting from 31st December
2010. Margin No
change in previous terms and conditions. Extent and
operation of the charge No change
in previous terms and conditions. |
|
Short particulars
of the property charged (Including location of the property) |
No
change in previous terms and conditions. |
|
Charge
identification number of the charge to be modified |
10146028 |
|
Particulars of
the present modification |
Conversion
of existing Foreign Currency Term Loan to Rupee Term Loan No
change in previous terms and conditions. |
FIXED ASSETS
v
Land
v
Building – Factory, Non
Factory
v
Plant and Machinery
v
Electrical Installation
v
Pollution Control
Equipment
v
Data Processing Equipment
v
Furniture and Fixtures
v
Vehicles
v
Office Equipment
v
Other Assets
v
Improvements on Leased
Premises
v
Intangible Assets
v
Land Scaping
UN-AUDITED
FINANCIAL RESULTS (PROVISIONAL) FOR THE QUARTER ENDED 31ST DECEMBER,
2010
(Rs. In millions)
|
Particulars |
Half Year Ended 31.12.2010 (unaudited) |
Half Year Ended 31.12.2010 (unaudited) |
|
(a) Net Sales/ Income from
operation |
565.434 |
1546.385 |
|
(b) Other Operating Income |
-- |
-- |
|
Total Income |
565.434 |
1546.385 |
|
2. Expenditure |
|
|
|
a. Increase(-) /Decrease(+) in Stock in trade and W.I.P. |
(117.541) |
(283.955) |
|
b. Consumption of Raw-Materials |
434.884 |
1135.576 |
|
c. Purchase of Traded Goods |
0.020 |
1.024 |
|
d. Employees Cost |
31.969 |
91.349 |
|
e. Depreciation |
31.633 |
94.635 |
|
f. Other Expenditure |
107.264 |
309.480 |
|
g. Total |
488.229 |
1348.109 |
|
3. Profit(+)/ Loss(-) from Operations before other Income Interest and
Exceptional Item(1-2) |
77.205 |
198.276 |
|
4. Other Income-Foreign Exchange Fluctuation-Gain/(Loss) |
5.891 |
17.717 |
|
5. Profit(+)/ Loss(-) before Interest and Exceptional Item |
83.096 |
217.993 |
|
6. Interest |
43.58 |
129.067 |
|
7. Profit(+)/ Loss(-) after Interest but before Exceptional Item (5-6) |
39.738 |
88.926 |
|
8. Exceptional Items |
-- |
-- |
|
9. Profit(+)/
Loss (-) from ordinary activities
before Tax (7-8) |
38.738 |
88.926 |
|
10. Tax Expenses |
8.000 |
17.800 |
|
11. Net Profit(+)/ Loss (-) from ordinary activities after Tax (9-10) |
31.738 |
71.126 |
|
12. Extraordinary Items |
-- |
-- |
|
13. Net Profit (+)/ Loss(-) for the period (11-12) |
31.738 |
71.126 |
|
14. Paid Up Equity Share Capital (Face Value of Rs.10 Per Share) |
100.152 |
100.152 |
|
15. Reserves excluding Revaluation Reserves as per Balance Sheet of
Previous Accounting Year |
-- |
-- |
|
16. 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 annualised) |
3.17 |
7.10 |
|
b) Basic and diluted EPS after extraordinary items for the period,for
the year to date and for the previous year (not annualised) |
3.17 |
7.10 |
|
17. Public Shareholding |
|
|
|
Number of Shares |
4604270 |
4604270 |
|
% of Share holding |
45.97 |
45.97 |
|
18. Promoters and promoter group Shareholding |
|
|
|
a) Non-encumbered |
|
|
|
- Number of shares |
5410933 |
5410933 |
|
- Percentage of shares (as a % of the total
shareholding of promoter and
promoter group) |
100 |
100 |
|
- Percentage of shares (as a
% of the total share capital of the
company) |
54.03 |
54.03 |
Notes
1. The above results were subject to “Limited Review” by the statutory
Auditors and were reviewed by the Audit Committee and have been approved by the
board at its meeting held on 29th January 2011.
2. The company’s business activity falls within a single primary segment of
“Bulk Drugs”. Hence segment reporting is not applicable.
3. The effect of deferred tax will be considered at the end of the year.
4. Other income consists of exchange variance of Rs. Nil for quarter ending
31.12.2010, of Rs. 2.470 millions for quarter ending 31.12.2009 and Rs. 7.790
millions for the year 2009-10.
5. There has been no change in the accounting policies adopted during the
quarter ended 31st December, 2010, as compared to those followed in
the proceeding Financial year 2009-10.
6. Details of share holders complaints during the quarter ended 31st
December, 2010 are Beginning-0, Received-1, Resolved-1, Pending-0.
7. Figures of previous periods have been regrouped / rearranged wherever
necessary.
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.44.89 |
|
|
1 |
Rs.73.84 |
|
Euro |
1 |
Rs.64.76 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
59 |
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.