MIRA
INFORM REPORT
|
Report Date : |
10.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
ARISTO PHARMACEUTICALS PRIVATE LIMITED |
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Registered
Office : |
Merchantile Chambers, 3rd Floor, 12 J N Heredia Marg, Ballard Estate, Mumbai
400001, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
08.11.1971 |
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Com. Reg. No.: |
11-015425 |
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Capital
Investment / Paid-up Capital : |
Rs.9.897 millions |
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CIN No.: [Company Identification
No.] |
U24239MH1971PTC015425 |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Pharmaceutical, Medical Chemicals and Botanical
Products. |
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No. of Employees
: |
Information not divulged by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
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 32800000 |
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|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and a reputed company having fine track.
Financial position of the company appears to be sound. Fundamentals are strong
and healthy. 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.
INFORMATION
DENIED BY
|
Name : |
Mr. Raju |
|
Designation : |
Receptionist |
|
Date : |
08.06.2011 |
LOCATIONS
|
Registered
Office : |
Merchantile Chambers, 3rd Floor, 12 J N Heredia Marg, Ballard Estate,
Mumbai 400001, |
|
Tel. No.: |
91-22-22617909 /
749 / 22671436 / 22619582 |
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Fax No.: |
91-22-22615604 |
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E-Mail : |
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Website: |
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Area: |
1500 sq.ft |
|
Location: |
Rented |
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Corporate
Office : |
23-A, Shah
Industrial Estate, Off Tel. No. Fax No. E Mail |
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Tel. No.: |
91-22-26739999 |
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Fax No.: |
91-22-26734792 |
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E-Mail : |
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Factory 1 : |
Survey No. 371,
Kunbar Falia, Village Dabhel, Nani Daman – 396 210, Daman, |
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Tel No.: |
91-260-2257990/2253676 |
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Fax No.: |
91-260-2257956 |
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E Mail: |
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Factory 2 : |
Plot No. 208, New
Industrial Area No. 2, Mandideep – 462 046, Raisen, Madhya Pradesh |
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Tel No.: |
91-7480-233180/233178 |
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Distribution
Depots : |
Located at :- Bangalore,
Kolkata, Chennai, Cuttack, Chandigarh, Delhi, Guwahati, Hyderabad, Indore,
Jaipur, Kochi, Lucknow, Mumbai, Patna, Pune, Ranchi and Raipur |
DIRECTORS
AS ON 23.06.2010
|
Name : |
Mr. Umesh Sharma |
|
Designation : |
Managing Director |
|
Address : |
East Khemini Chak, Kankarbagh, Patna-800020, |
|
Date of Birth
: |
15.11.1952 |
|
Date of
Appointment : |
12.02.1979 |
|
DIN No. : |
01385819 |
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|
|
|
Name : |
Mr. Raj Nandan Sharma |
|
Designation : |
Additional Director |
|
Address : |
Village Berra, Post Berra, P.S. Masaurhi – 804454, |
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Date of Birth
: |
09.11.1948 |
|
Date of
Appointment : |
25.05.2010 |
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DIN No. : |
01623096 |
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|
|
|
Name : |
Mr. Ranjit Sharma |
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Designation : |
Whole time Director |
|
Address : |
67, Patliputra Colony, |
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Date of Birth
: |
26.01.1969 |
|
Qualification
: |
01.09.2005 |
|
DIN No. : |
01620875 |
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|
|
|
Name : |
Mr. Randhir Kumar Bachan |
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Designation : |
Whole time Director |
|
Address : |
Village Govindpur, PS : Ghoshi Post, Modan Ganj, Jehanabad – 804406, |
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Date of Birth
: |
19.11.1971 |
|
Date of
Appointment : |
01.09.2005 |
|
DIN No. : |
01163058 |
|
|
|
|
Name : |
Mr. Virendra Sharma |
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Designation : |
Director |
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Address : |
703, A-22, Bakers, Shastri Nagar, Andheri (West), Mumbai-400053, |
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Date of Birth
: |
18.01.1969 |
|
Date of
Appointment : |
03.10.2006 |
|
DIN No. : |
01449416 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 23.06.2010
|
Names of Shareholders |
No. of
Shares |
|
Mr. Mahendra Prasad B. Sharma |
87020 |
|
Mr. Umesh B. Sharma |
680 |
|
Mrs. Renukadevi U. Sharma |
4160 |
|
Mr. Ranjit M. Sharma |
1340 |
|
Mr. Rajeev M. Sharma |
1370 |
|
Mr. Rahul U. Sharma |
1160 |
|
Mrs. Umadevi D. Bhatti |
250 |
|
Mr. Aradhya Rai |
1495 |
|
Mr. Achintya Rai |
1495 |
|
Total |
98970 |
AS ON 23.06.2010
|
Equity Share
Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of
Business : |
Manufacturer of Pharmaceutical, Medical Chemicals and Botanical
Products. |
||||||||||||||||
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||||||||||||||||
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Products : |
v
Broad
Spectrum Antibiotic v
Aristozyme
Liquid Dosestine Enzyme v
Flexen v
Analsesic
and Antipyretic v
Aminoglycosides v
Anti-Tuberculosis v
Anti-Malarial v
Anti-Scabies v
Anti
Diabetics v
Anti-
Diarrhoeals v
Anti-Histamine v
Anti-Inflammatory v
Anti-Ulcerants v
Anxiocytics v
Cephalosporins v
Cough
Expectorants v
Fluroquinones v
Macrolides v
Nutritionals v
Ophthalmological
v
Penicillis v
Sulfonamides v
Tetracyclines
Generic Names of
Three Principal Products of the company are :
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Brand Names : |
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GENERAL INFORMATION
|
Customers: |
Wholesalers |
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No. of
Employees : |
Information not divulged by the management |
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Bankers : |
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Banking Relations : |
-- |
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Auditors : |
|
|
Name : |
K B Lal Agrawal
and Company Chartered
Accountants |
|
Address : |
Shri Ram Bhavan,
2nd Floor, |
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|
|
|
Associates/Subsidiaries
: |
Activity:
Manufacturer of Antibiotics |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
99000 |
Equity Shares |
Rs. 100/- each |
Rs.9.900 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
98970 |
Equity Shares |
Rs. 100/- each |
Rs.9.897
millions |
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 |
9.897 |
9.897 |
9.897 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
8190.669 |
7318.607 |
6854.181 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
8200.566 |
7328.504 |
6864.078 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
473.210 |
348.583 |
217.129 |
|
|
2] Unsecured Loans |
36.509 |
40.329 |
42.970 |
|
|
TOTAL BORROWING |
509.719 |
388.912 |
260.099 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
8710.285 |
7717.416 |
7124.177 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1097.075 |
676.454 |
462.228 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1163.672
|
1233.316
|
990.786 |
|
|
Sundry Debtors |
521.957
|
512.361
|
613.087 |
|
|
Cash & Bank Balances |
7468.701
|
6574.111
|
5285.924 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
4801.845
|
3707.965
|
2898.024 |
|
Total
Current Assets |
13956.175
|
12027.753
|
9787.821 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
315.525
|
281.776 |
|
|
Other Current Liabilities |
424.673
|
0.000
|
0.000 |
|
|
Provisions |
5918.292
|
4671.266
|
2844.096 |
|
Total
Current Liabilities |
6342.965
|
4986.791
|
3125.872 |
|
|
Net Current Assets |
7613.210
|
7040.962
|
6661.949 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
8710.285 |
7717.416 |
7124.177 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
9026.700 |
7730.500 |
|
|
|
|
Other Income |
687.935 |
563.799 |
|
|
|
|
TOTAL (A) |
9714.635 |
8294.299 |
6725.300 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
6543.293 |
5891.399 |
4687.155 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3222.200 |
2402.900 |
2038.145 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (D) |
50.900 |
42.800 |
40.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (C-D) (E) |
3171.300 |
2360.100 |
1997.245 |
|
|
|
|
|
|
|
|
|
Less |
TAX (F) |
1087.500 |
842.000 |
617.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(E-F) (G) |
2083.800 |
1518.100 |
1379.745 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2826.100 |
2521.700 |
2942.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
210.000 |
160.000 |
150.000 |
|
|
|
Interim Dividend |
0.000 |
0.000 |
1350.945 |
|
|
|
Dividend |
1039.100 |
900.600 |
59.400 |
|
|
|
Tax on Dividend |
172.600 |
153.100 |
239.700 |
|
|
BALANCE CARRIED
TO THE B/S |
3488.200 |
2826.100 |
2521.700 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
21055.29 |
15339.14 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
21.45
|
19.64
|
20.51 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
35.13
|
30.53
|
-- |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.07
|
18.58
|
19.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.39
|
0.32
|
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.83
|
0.73
|
0.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.20
|
2.41
|
3.13 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2010
|
31.03.2009
|
31.03.2008 |
|
Sundry Creditors |
NA
|
315.525
|
281.776 |
|
Total |
NA
|
315.525
|
281.776 |
OPERATIONS :
The Company has improved
its sales for the year to Rs.9026.700 millions compared to Rs.7730.500 millions
in the previous year. The Net Profit has also shown a growth to Rs.3171.300
millions for the year compared to Rs.2360.100 millions achieved in the
immediate previous year.
Fixed Assets
- Land
- Furniture and Fixtures
- Office Equipments
- Light and Fans
- Air Conditioners
- Electrical Installations
- Plant and Machinery
- Weighting Scale
- Beiler
- Motor Car
- Vehicles
- Computers and Software
- Factory Equipment
- Gas Generation Plant
- Storage Tanks
- Tabe Well
Website Details :
History :
Subject started its
operations in 1971 with a manufacturing plant at
Subject has a field force of 1200 of which 900 are frontline covering
about 1,50,000 doctors in the country
Subject has 17 company owned distribution depots serving 2000 stockists
& a reach of over 60,000 chemists.
MARKET RANKING
Subject is ranked No. 1 in it’s covered market with a market share of
7.16%
ORG-MARG Data August 2002
Subject is ranked as the No.1 company in
OTSIRA-GENETICA
A business division
of subject is reckoned as one of the most successful new marketing division in
the country with US $ 9 million turnover in 4th year of operation.
ORG-MARG Data August 2002
TOP BRANDS
Subject has 7
brands in the coveted Top 200 brands of the Indian pharma market
Monocef (Ceftriaxone)
Mikacin (Amikacin)
Megapen (Ampicillin and Cloxacillin)
Flexon (Ibuprofen and Paracetamol)
Cefadrox (Cefadroxil)
Aristozyme ( A Digestive enzyme)
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.44.72 |
|
|
1 |
Rs.73.47 |
|
Euro |
1 |
Rs.65.38 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
62 |
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.