MIRA
INFORM REPORT
|
Report Date : |
27.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
EMCURE
PHARMACEUTICALS LIMITED |
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Registered Office : |
Emcure House, T –
184, MIDC, Bhosari, Pune – 411026, |
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Country : |
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|
Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
16.04.1981 |
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Com. Reg. No.: |
25-24251 |
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Capital Investment / Paid-up Capital : |
Rs. 487.971
Millions |
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|
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CIN No.: [Company
Identification No.] |
U24231PN1981PLC024251 |
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|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
PNEE00094D |
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PAN No.: [Permanent
Account No.] |
AAACE4574C |
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Legal Form : |
A Closely Held Public
Limited Liability Company |
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|
Line of Business : |
Manufacturer and
Seller of Pharmaceuticals such as Antibiotics, Herbal, Bacteriological and
Biological Products. |
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|
No. of Employees : |
1000 (Office 80,
Factory 920) (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
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 14000000 |
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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 an
established company having good track. There appears to be some losses
incurred by the company in the current year. Trade relations are reported as
fair. Business is active. Directors are reported as experienced and
respectable businessmen. 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 |
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Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Gaurav Pancholi |
|
Designation : |
Assistant Account Manager |
|
Date : |
18.10.2010 |
LOCATIONS
|
Registered
Office/Factory : |
Emcure House, T -
184, M. I. D. C., Bhosari, Pune-411026, |
|
Tel. No.: |
91-20-30610000 |
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Fax No.: |
91-20-30610111 /
27122289 |
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E-Mail : |
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|
Website : |
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Area : |
50,000 Sq. ft. |
|
Location : |
Owned |
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|
|
|
R and D
Centers : |
API R and D Plot 12/2, F – II
Block, M.I.D.C., Pimpri, Pune – 411018, Tel No.: 91-20-30613000 Fax No.: 91-20-30613056 Plot P-II, Tel No.: 91-20-39821350 Fax No.: 91-20-39810222 Formulation R and D T 184, MIDC,
Bhosari, Punr – 411026, Tel No.: 91-20-30610000 Fax No.: 91-20-30610222 Biotechnology R and D Plot No. I, Tel No.: 91-20-39821300 Fax No.: 91-20-39821441 |
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|
|
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Manufacturing
Units : |
API Manufacturing Plot No. D – 24, M.I.D.C., Kurkumbh, Taluka Daund, District Pune -
413802, Tel No.: 91-2117-305000/235742 Fax No.: 91-2117-235743 Formulations – Injectables Plot P – 1, MIDC,
Hinjewadi, Pune – 411057 Tel No.: 91-20-39821300 Fax No.: 91-20-39821400 Formulations – Solids
Tel No.: 91-20-39821300 Fax No.: 91-20-39821340 Small Batch Manufacturing Plot P-II, Tel No.: 91-20-39821300 Fax No.: 91-20-39821444 |
DIRECTORS
As on 21.07.2010
|
Name : |
Mr. Arunkumar
Purushottamalal Khanna |
|
Designation : |
Whole Time
Director |
|
Address : |
Clover Hills,
Bungalow No. 63, |
|
Date of
Birth/Age : |
09.07.1952 |
|
Date of
Appointment : |
27.12.1994 |
|
DIN No.: |
00121686 |
|
|
|
|
Name : |
Mr. Mahesh
Nathalal Shah |
|
Designation : |
Whole Time
Director (Technical) |
|
Address : |
303, Abhinav Sankul,
Plot No. 1A, Survey No. 132, Aundh, Pune – 411007, |
|
Date of
Birth/Age : |
03.10.1953 |
|
Date of
Appointment : |
15.08.2001 |
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Qualification
: |
M. Sc. |
|
Previous
Employment : |
Lasor
Laboratories Limited |
|
DIN No.: |
00118341 |
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|
|
|
Name : |
Mr. Satish
Ramanlal Mehta |
|
Designation : |
Managing Director |
|
Address : |
4, Mumbai – |
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Date of
Birth/Age : |
13.01.1951 |
|
Date of
Appointment : |
14.09.1995 |
|
Qualification
: |
M. Sc., M.B.A.
[IIMA] |
|
Previous
Employment : |
Nucron
Pharmaceutical Limited |
|
DIN No.: |
00118691 |
|
|
|
|
Name : |
Dr. Mukund Keshao
Gurjar |
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Designation : |
Director |
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Address : |
Bungalow C – II /
2, NCL Colony, |
|
Date of
Birth/Age : |
28.08.1952 |
|
Date of
Appointment : |
23.07.2001 |
|
DIN No.: |
00026843 |
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|
|
|
Name : |
Mr. Berjis Minoo
Desai |
|
Designation : |
Director |
|
Address : |
Yezerina II, 740 /
741, Parsi Colony Road No. 5, Dadar, Mumbai – 400014, |
|
Date of
Birth/Age : |
02.08.1956 |
|
Date of
Appointment : |
03.04.1997 |
|
DIN No.: |
00153675 |
|
|
|
|
Name : |
Mr. Shreekant
Krushnaji Bapat |
|
Designation : |
Director |
|
Address : |
Yashodhan, United
Western CHS, Karve Nagar, Pune-411052, |
|
Date of
Birth/Age : |
08.10.1937 |
|
Date of
Appointment : |
26.06.1999 |
|
DIN No.: |
00621568 |
|
|
|
|
Name : |
Mr. Hamayun Raja
Dhanrajgir |
|
Designation : |
Director |
|
Address : |
Flat No. F – 41,
Dhanraj Mahal, |
|
Date of
Birth/Age : |
02.12.1936 |
|
Date of
Appointment : |
23.09.2000 |
|
DIN No.: |
00004006 |
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|
|
|
Name : |
Mr. Mahendra Raojibhai
Patel |
|
Designation : |
Director |
|
Address : |
5, |
|
Date of
Birth/Age : |
20.09.1949 |
|
Date of
Appointment : |
12.01.2005 |
|
DIN No.: |
00479962 |
|
|
|
|
Name : |
Mr. Akhil Krishnakumar
Gupta |
|
Designation : |
Director |
|
Address : |
5 and 6th
Floor, Shrivardhan, |
|
Date of
Birth/Age : |
20.07.1952 |
|
Date of
Appointment : |
01.08.2006 |
|
DIN No.: |
00359325 |
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|
|
|
Name : |
Mr. Samson Marvin |
|
Designation : |
Director |
|
Address : |
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Date of
Birth/Age : |
20.06.1941 |
|
Date of
Appointment : |
27.08.2007 |
|
DIN No.: |
01824691 |
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|
|
|
Name : |
Mr. Amit
Mahendrakumar Dixit |
|
Designation : |
Director |
|
Address : |
Thakur Niwas,
Flat No. 21, 173, |
|
Date of
Birth/Age : |
26.01.1973 |
|
Date of
Appointment : |
01.06.2009 |
|
DIN No.: |
01798942 |
KEY EXECUTIVES
|
Name : |
Mr. Sandeep Anil
Phadnis |
|
Designation : |
Secretary |
|
Address : |
3, Prabhat,
Gururaj Society, |
|
Date of
Birth/Age : |
11.06.1968 |
|
Date of
Appointment : |
29.04.2006 |
|
PAN No. : |
AARPP3020E |
MAJOR SHAREHOLDERS
As on 21.07.2010
|
Names of Shareholders |
|
No. of Shares |
|
Satish Ramanlal
Mehta 4, |
|
9392402 |
|
Namita Vikas
Thapar 4, |
|
1512450 |
|
Samit Satish
Mehta 4, |
|
3276130 |
|
Bhavana Satish
Mehta 4, |
|
2284390 |
|
Pushpa Rajanikant
Mehta 4, |
|
1074413 |
|
Sunil Rajanikant
Mehta 4, |
|
1908312 |
|
Sanjay Rajanikant
Mehta 4, |
|
2955779 |
|
Shaila Sharad
Gujar PCNTDA, Sector No. 24, Plot No.303, NIGDI, Pune – 411044, |
|
25125 |
|
Kamini Sunil Mehta 4, |
|
1661635 |
|
Sanjay Rajanikant
Mehta jointly with Ms. Sonali Sanjay Mehta 4, |
|
820481 |
|
Rutav Sunil Mehta
jointly with Mr. Sunil Rajanikant Mehta 4, |
|
147093 |
|
Kamini Sunil
Mehta jointly with Mr. Sunil Rajanikant Mehta 4, |
|
322780 |
|
Arunkumar Purushottamlal
Khanna Clover Hills,
Bunglow No.63, |
|
500000 |
|
Mahesh Nathalal
Shah 303, Abhinav
Sankul, Plot No. 1/A, Survey No.132, Aundh, Pune – 411007, |
|
75000 |
|
Avinash Kamlakar
Medhekar Karamangalya, K/
3/2 Erandwane Co. S Patwardhan Baug, Pune – 411004, |
|
80625 |
|
Bhavana Satish
Mehta jointly with Mr. Satish Ramanlal Mehta 4, |
|
21600 |
|
Sunil Rajanikant
Mehta jointly with Ms. Kamini Sunil Mehta 4, |
|
707981 |
|
Pushpa Rajanikant
Mehta jointly with Mr. Rajnikant Hiralal Mehta 4, |
|
9600 |
|
Sonali Sanjay
Mehta 4, |
|
691530 |
|
Jashvantlal
Chandulal Shah 12, Shankar
Society, Div – I, Narangpura, Ahmedabad – 380013, |
|
11250 |
|
Ushaben Shah 12, Shankar Society,
Div – I, Narangpura, Ahmedabad – 380013, Gujarat, India |
|
34125 |
|
Saumil Jasubhai
Shah Vidula, Six
Roads, Vidula, Six Roads, Near Shrmali Society, Navrangpura, Ahmedabad –
380009, |
|
11250 |
|
Suhasini Saumil
Shah Vidula, Six Roads,
Vidula, Six Roads, Near Shrmali Society, Navrangpura, Ahmedabad – 380009, |
|
25125 |
|
Surekha Umakant
Shah 610, Sind Housing
Society, Aundh, Pune – 411007, |
|
61875 |
|
Rita Mukesh Desai B/3, Arawati
Apartment, |
|
5625 |
|
Swati Hetal Shah 2-B, |
|
25125 |
|
Smita Paresh Shah 9, Laxmi Flat,
Usmanpura, Shanti Nagar, Ahmedabad – 380013, |
|
25125 |
|
Bhalchandra
Kashinath Khare jointly with Ms. Padmini Bhalchandra Khare, No. 17-18,
shivsagar, 19, Worli Sea Face, Mumbai – 400018, Maharasahtra, India |
|
45375 |
|
Shreekant Krushnaji
Bapat jointly with Ms. Alaka Shreekant Bapat 91, sagar Tarang,
Worli Sea Face, Worli, Mumbai – 400025, |
|
63250 |
|
Dilip Girdharlal
Shah jointly with Ms. Smita Dilip Shah 2/21, Beach
Queen, 35-B, |
|
42000 |
|
Rustom Phiroze
Soonawala 121, Khushnuma,
29, |
|
26250 |
|
Berjis Minoo
Desai Yezerina – II,
740/741, Parsi Colony, Dadar – 400014, |
|
37500 |
|
Narinder
Gurbaxraj Sagar A-30, New Krishna
Park, Vikas Puri, New Delhi – 110018, India |
|
22500 |
|
Milind Mahadev
Lad New |
|
5625 |
|
Uday Chandu Borde 103, C, choice
Apartment, |
|
3375 |
|
Raju Pessumal
Kalera B-41, Rajmudra Co
–Operative Society, Dhankawadi, Pune – 411043, |
|
5625 |
|
Navneet
Hargovindas Shah 203, |
|
45000 |
|
Girishchander
Harrai Desai 40, |
|
22500 |
|
Jaydeep Ranjitrai
Desai 26806, |
|
22500 |
|
Humayun Raja
Dhanrajgir Flat No. F –
37/38, Dhanraj Mahal, C.S.M. Road, Apollo Bunder, Mumbai – 400039,
Maharasahtra, India |
|
47500 |
|
Venkappa
Martahndappa Agadi jointly with Ms. Kamala Venkappa Agadi, 701, Fantasia, 431,
Vallavhbhai Patel road, Santacruz (W), Mumbai – 400054, Maharasahtra, India |
|
22500 |
|
Anvi Sanjay Mehta 4, |
|
155418 |
|
Rutav Sunil Mehta 4, |
|
53438 |
|
Umakant Chimanlal
Shah 610, Sind Housing
Society, Aundh, Pune – 411007, |
|
112500 |
|
Vijay Damodar
Kulkarni 13 A, Gangalahiri
Housing Society, 36/2/1 Karvenagar, Pune – 411052, |
|
3375 |
|
Sonali Sanjay
Mehta jointly with Mr. Sanjay Rajanikant Mehta 4, |
|
195430 |
|
Anvi Sanjay Mehta
jointly with Ms. Sonali Sanjay Mehta 4, |
|
56613 |
|
Rutav Sunil Mehta
jointly with Ms. Kamini Sunil Mehta 4, |
|
74025 |
|
Mukund Keshao
Gurjar C-II/2, NCL
Colony, |
|
57500 |
|
Mukund Pandurang
Ranade C-503, Pride
Panorama, Near Shivaji Society, Bahiratwadi, Senapati Bapat Road, Pune –
411016, Maharasahtra, India |
|
73750 |
|
Deo
Venkatarangala Balaji B-2, 704, Rose
Parade, |
|
3375 |
|
Dilip Nandkumar
Deobagkar 7, |
|
3750 |
|
Jitendra Vir
Singh 752, |
|
187500 |
|
Prakashkumar
Prasantakumar Guha B-4, 505-506,
Raunak Park, Pokhran Park, Konkani Pada, Thane (W), Thane – 400601,
Maharasahtra, India |
|
37500 |
|
Chandrakant
Vittal Shetty Krishnakunj, 1st
Floor, Opposite Malhar Talkies, Naupada, thane (W), Thane, |
|
7500 |
|
Balasubramaniam
Shriram Bldg No. 4, A
Wing, Flat No. 302/303, |
|
7500 |
|
Mahendra
Raojibhai Patel 5, |
|
250000 |
|
Joseph Renner 4, |
|
125000 |
|
Blackstone GPV
Capital partners Mauritius V-C Limited Level – 6, |
|
303035 |
|
Sanjay Bhanu Singh
Jointly with Kavita Sanjay Singh, Row House No.18,
Atul Excellency, Opposite Hotel Ambience, Wakad, Pune – 411057, Maharasahtra,
India |
|
75000 |
|
Hemlata Dalvi C-4, Navsamaj
Society, 1st Floor, Dayaldas Road, Vile Parle (E), Mumbai –
400057, Maharasahtra, India |
|
50000 |
|
Hitesh Jain 405, Panchsheel, |
|
5000 |
|
Vikas Thappar 2280, |
|
40000 |
|
Nilesh Patel 76, |
|
45000 |
|
Marvin Sanson 752, |
|
200000 |
|
Sayeed Fakrul 20, |
|
50000 |
|
Neha Shah 203, Beverly Hill
road, |
|
30000 |
|
Mona Shah 203, Beverly Hill
road, |
|
30000 |
|
Dipa Desai 203, |
|
5000 |
|
Neeraj Mehta Jointly
with Rajanikant Sunil Mehta 4, |
|
275000 |
|
Mannan Mehta
Jointly with Sanjay Rajanikant Mehta 4, |
|
275000 |
|
Total |
|
30865535 |
As on 21.07.2010
|
Names of Preferences Shareholders |
|
No. of Shares |
|
Blackstone GPV
Capital partners Mauritius V-C Limited, Level 6, |
|
17931642 |
|
Total |
|
17931642 |
As on 30.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
2.80 |
|
Directors or relatives of directors |
|
62.51 |
|
Other top fifty shareholders |
|
34.69 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and
Seller of Pharmaceuticals such as Antibiotics, Herbal, Bacteriological and
Biological Products. |
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Products : |
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Brand Names : |
“EMCURE” |
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Exports : |
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Products: |
Pharmaceutical
Products |
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Countries : |
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Imports : |
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Products: |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and
Credit |
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Purchasing : |
L/C, Cash and
Credit |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
1000 (Office 80,
Factory 920) (Approximately) |
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Bankers : |
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Facilities : |
Note:
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Price Waterhouse and
Company Chartered
Accountants |
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Address: |
252, Veer
Savarkar Marg, |
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Associates/Subsidiaries : |
CIN No.: U72100PN2000PTC015368
CIN No.: U85320PN2002PTC018324
CIN No.: U24231PN2001PLC016253
U24232PN2005PLC020815 |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
40000000 |
Equity Shares |
Rs. 10/- each |
Rs. 400.000 Millions |
|
20000000 |
Preference Shares
|
Rs. 10/- each |
Rs. 200.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 600.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30865535 |
Equity Shares |
Rs. 10/- each |
Rs. 308.655 Millions |
|
17931642 |
Preference Shares
|
Rs. 10/- each |
Rs. 179.316 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 487.971 Millions |
Notes:
Of the above:
1. 24,014,046 (Previous Year: 24,014,046) equity shares were allotted as fully paid-up bonus shares by way of capitalisation of Reserves.
2. 967,498 equity shares have been issued as fully paid-up shares pursuant to the Scheme of Amalgamation for consideration other than cash.
As on 21.07.2010
Authorised Capital : Rs. 600.000
Millions
Issued, Subscribed & Paid-up Capital : Rs.351.657 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 |
487.971 |
487.971 |
487.971 |
|
|
2] Share
Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves &
Surplus |
3161.711 |
2821.137 |
3301.783 |
|
|
4] (Accumulated
Losses) |
0.000 |
(1225.456) |
0.000 |
|
NETWORTH
|
3649.682 |
2083.652 |
3789.754 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3485.555 |
3444.847 |
2336.644 |
|
|
2] Unsecured
Loans |
200.119 |
209.650 |
164.631 |
|
TOTAL BORROWING
|
3685.674 |
3654.497 |
2501.275 |
|
|
DEFERRED TAX
LIABILITIES |
190.512 |
0.000 |
336.926 |
|
|
|
|
|
|
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TOTAL
|
7525.868 |
5738.149 |
6627.955 |
|
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APPLICATION OF FUNDS
|
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|
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|
|
FIXED ASSETS [Net Block]
|
3543.945 |
3164.927 |
2703.497 |
|
Capital work-in-progress
|
1754.662 |
1644.325 |
1034.057 |
|
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|
|
|
INVESTMENT
|
770.560 |
497.581 |
631.286 |
|
DEFERREX TAX ASSETS
|
0.000 |
585.335 |
0.000 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS &
ADVANCES
|
|
|
|
|
|
|
Inventories
|
1344.737 |
953.754 |
1062.792 |
|
|
Sundry Debtors
|
1416.905 |
1365.828 |
1070.071 |
|
|
Cash & Bank Balances
|
44.950 |
80.502 |
26.658 |
|
|
Other Current Assets
|
103.939 |
51.010 |
9.343 |
|
|
Loans & Advances
|
1437.479 |
1516.557 |
1115.939 |
Total Current Assets
|
4348.010 |
3967.651 |
3284.803 |
|
Less : CURRENT
LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Sundry Creditors
|
1715.220 |
1133.188 |
850.918 |
|
|
Other Current Liabilities
|
1028.018 |
2949.166 |
29.853 |
|
|
Provisions
|
148.071 |
39.316 |
144.917 |
Total Current Liabilities
|
2891.309 |
4121.670 |
1025.688 |
|
Net Current Assets
|
1456.701 |
(154.019) |
2259.115 |
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
7525.868 |
5738.149 |
6627.955 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
7659.622 |
5988.670 |
4453.928 |
|
|
|
Other Income |
202.809 |
126.783 |
156.303 |
|
|
|
TOTAL (A) |
7862.431 |
6115.453 |
4610.231 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Costs |
3139.385 |
2233.122 |
1547.456 |
|
|
|
Employee Costs |
1153.093 |
960.356 |
983.353 |
|
|
|
Other Expenses |
1964.404 |
1780.238 |
1508.537 |
|
|
|
Transfer from Revaluation Reserve |
(0.228) |
(0.228) |
(0.228)a |
|
|
|
Exceptional Item |
(1509.434) |
3209.181 |
0.000 |
|
|
|
Foreign Exchange Loss/ Gain |
0.00 |
0.000 |
[136.104] |
|
|
|
TOTAL (B) |
4747.220 |
8182.669 |
3903.014 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3115.211 |
(2067.216) |
707.217 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
293.120 |
263.334 |
187.279 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2822.091 |
(2330.550) |
519.938 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
302.677 |
232.300 |
168.716 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2519.414 |
(2562.850) |
351.222 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
795.404 |
(836.596) |
62.992 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1724.010 |
(1726.254) |
288.230 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(1225.455) |
500.799 |
344.257 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Final Dividend |
87.914 |
0.000 |
87.923 |
|
|
|
Tax on Proposed Final Dividend |
11.551 |
0.000 |
14.942 |
|
|
|
Transfer to General Reserve |
149.194 |
0.000 |
28.823 |
|
|
BALANCE CARRIED
TO THE B/S |
249.896 |
[1225.455] |
500.799 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
55.86 |
[55.93] |
8.93 |
|
|
|
Diluted |
49.03 |
[55.93] |
8.19 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
21.93
|
(28.23)
|
6.17 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
32.89
|
(42.79)
|
8.02 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
31.92
|
(35.93)
|
5.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.69
|
(1.23)
|
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.80
|
3.73
|
0.93 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.50
|
0.93
|
3.20 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U24231PN1981PLC024251 |
|
Name of the
company |
EMCURE
PHARMACEUTICALS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Emcure House, T –
184, MIDC, Bhosari, Pune – 411026, |
|
This form is for |
Modification of
Charge |
|
Charge
identification number of the charge to be modified |
90082512 |
|
Type of charge |
Book Debts Others |
|
Particular of
charge holder |
The Bank of
Maharashtra Limited, Lokmangal, 1501, Shivaji Nagar, Pune – 411005, |
|
Nature of
instrument creating charge |
Letter dated
20.06.2010 received from ICICI Bank Limited confirming repayment of
facilities in full and subsequent release of charge of Rs. 400.000 Millions
created vide Deed of hypothecation dated 17.03.2008 |
|
Date of
instrument Creating the charge |
20.07.2010 |
|
Amount secured by
the charge |
Rs. 2370.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest As per Agreement Terms of
Repayment As per Agreement Margin As per Agreement Extent and
Operation of the charge As per Agreement Others As per Agreement |
|
Short particulars
of the property charged |
The whole of the
current assets of the borrower, present and future, such as stocks of all
types, semi-finished and finished goods, consumables, stores and spares,
bills receivables, book debts etc. stored in borrower’s factories, premises
and godowns situated at Bhosari, Hinjewadi, Pimpri, KLurkumbh or elsewhere in
the state of Maharashtra of where ever else. |
|
Date of
instrument modifying the charge |
24.05.2010 |
|
Particulars of
the present modification |
Charge created in
favour of Bank of Maharashtra under multiple banking arrangement has been
reduced by Rs. 400.000 Millions. The balance amount secured by charge now
stands modified at Rs. 2370.000 Millions |
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U24231PN1981PLC024251 |
|
Name of the
company |
EMCURE
PHARMACEUTICALS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Emcure House, T –
184, MIDC, Bhosari, Pune – 411026, |
|
Type of charge |
Others Current Assets of
the Company |
|
Particular of
charge holder |
Indusind Bank, |
|
Nature of
description of the instrument creating or modifying the charge |
Agreement for
hypothecation of currect assets for Cash Credit and WCDL. |
|
Date of
instrument Creating the charge |
29.09.2009 |
|
Amount secured by
the charge |
Rs. 140.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As per Agreement Terms of
Repayment As per Agreement Margin Raw Material –
25% WIP – 2% Finished goods –
25% Book debts – 25% Extent and
Operation of the charge 1st
pari passu charge on current assets with exiting bankers Others |
|
Short particulars
of the property charged |
Current Assets of
the Company. |
|
Name of the
company |
EMCURE
PHARMACEUTICALS LIMITED |
||||||||||||||
|
Presented By |
Mr. Avinash
Medhekar, Director [Finance] |
||||||||||||||
|
1) Date and
description of instrument creating the change |
A. Bank of Agreement for
Hypothecation of goods, stocks, movables, plant and machineries and book debts
and memorandum of record of equitable mortgage both dated 27.11.1997. This
constitutes a single charge B. Corporation
Bank : Agreement of
hypothecation dated 01.02.2000 [of erstwhile Lasor Laboratories Limited
before amalgamation] |
||||||||||||||
|
2) Amount secured
by the charge/amount owing on the securities of charge |
A. Bank of
B. Corporation Bank
:
|
||||||||||||||
|
3) Short
particular of the property charged. If the property acquired is subject to charge,
date of the acquired of the property should be given |
A. Bank of Hypothecation of
movables, plants, machineries, goods, stocks, materials, items, inventories,
raw materials, semi finished goods, finished goods, stock-in-trade, goods in process, movables
in transit, all of the movable assets and properties, the goodwill and all
receivables, book debts and all the rights, titles or interest therein. An
equitable mortgage of land and building B. Corporation
Bank : Hypothecation of raw
materials, stock-in-process, semi finished goods and finished goods, stores,
spares, receivables, book debts, plant and machinery, equipments, furniture,
computers, jigs and fixtures and all other movable fixed assets of the
company |
||||||||||||||
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
A. Bank of Rate of Interest
; PLR + 1% + tax B. Corporation
Bank Interest @ PLR +
1.5% i.e. 13.50% p.a. [Exclusive of Interest
Tax], at present subject to revision from time to time |
||||||||||||||
|
5) Name and
Address and description of the person entitled to the charge. |
Bank of Dapodi, Pune –
411012 Corporation Bank Industrial
Finance Branch, 14, |
||||||||||||||
|
6) Date and brief description of instrument
modifying the charge |
Memorandum of
Record of Equitable Mortgage dated 12.06.2003 |
||||||||||||||
|
7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
BANK OF Original charge
to secure various credit facilities of Rs. 77.500 millions secured by
hypothecation and equitable mortgage on land at Bhosari was enhanced to Rs.
145.500 millions on 29.01.1999, is now reduced to Rs. 220 millions, secured
by hypothecation of stocks in trade and book debts and also collaterally
secured by hypothecation of all movable fixed assets as stated in Part A of
Second Schedule of the Joint Deed of Hypothecation dated 11th
February, 2003 and the rate of interest and commission are mentioned in
second schedule of the working capital cartel agreement. Further as per the memorandum of record of
equitable mortgage dated 12.06.2003 the properties of the company referred to
in Part A of second schedule of the said memorandum have been provided as an
additional security to the security provided earlier vide the joint deed of
hypothecation dated 11.02.2003. The company has
also been sanctioned Term Loan of Rs. 200 millions from Bank of Maharashtra,
secured by hypothecation of all movable fixed assets as stated in Part B of
second schedule of the joint deed of hypothecation dated 11.02.2003 and the
rate of interest as mentioned in Term Loan Agreement dated 11.02.2003. Whereas the
property of the company referred to in Part B of second
schedule of the said memorandum have been provided as an additional security
to the term loan of Rs. 200 millions over and above the security which was
provided earlier vide the joint deed of hypothecation dated 11.02.2003. Further it is
stated that the property exclusively charged to Bank of Maharashtra mortgage
dated 29.01.1999 is hereby through this modification released in lieu of
above mentioned security. B. Corporation
Bank Original charge
created on 01.02.2000 by way of hypothecation to secure credit facility of
Rs. 55 million, was also secured by equitable mortgage of land & building
as collateral security on 29.03.2000, is now enhanced to Rs. 110 millions,
secured by hypothecation of stocks in trade and book debts and also
collaterally secured by hypothecation of all movable fixed assets as stated
in Part A of second schedule of the Joint Deed of Hypothecation dated
11.02.2003 and the rate of interest and commission are mentioned in second
schedule of the working capital cartel agreement. Further as per
the memorandum of record of equitable mortgage dated 12.06.2003 the
properties of the company mentioned in Part A of the second schedule have
been mortgaged as an additional security to the security provided earlier
vide the joint deed of hypothecation dated 11.02.2003. Further it is
stated that the property exclusively charged to Corporation Bank vide the
memorandum of deposit of title deeds dated 29.03.2000 is hereby through this
modification released in lieu of above mentioned security. C. Citi Bank N.A. The company has
been sanctioned Cash Credit facility / Export Pre Shipment and Post shipment
finance / usance or Sight letter of credit / financial or performance
guarantee of Rs. 67.500 millions from Citi Bank N. A. secured by
hypothecation of stocks in trade and book debts and also collaterally secured
by hypothecation of all movable fixed assets as stated in Part A of second
schedule of the Joint Deed of Hypothecation dated on 11.02.2003 and the rate
of interest and commission are mentioned in second schedule of the working
capital cartel agreement Further as per
the memorandum of record of equitable mortgage dated 12.06.2003 the properties
of the company mentioned in Part A of the second schedule have been mortgaged
as an additional security to the security provided earlier vide the joint
deed of hypothecation dated 11.02.2003 D. BNP Paribas : The company has
been sanctioned 1. Cash Credit /WCDL Rs. 40 millions 2. Export Credit Rs. 40
millions Preshipment /
Postshipment [1+2 not to exceed Rs. 40 millions in aggregate] from BNP
Paribas, secured by hypothecation of stocks in trade and book debts and also
collaterally secured by hypothecation of all movable fixed assets as stated
in Part A of second schedule of the joint deed of hypothecation dated on
11.02.2003 and the rate of interest and commission are mentioned in second
schedule of the working capital cartel agreement. Further as per
the memorandum of record of equitable mortgage dated 12.06.2003 the
properties of the company mentioned in Part A of the second schedule have
been mortgaged as an additional security to the security provided earlier
vide the joint deed of hypothecation dated 11.02.2003 5. The security
of movable and immovable assets of the company will be given to each bank on
pari-passu basis in proportion to their respective limits. These limits are stated in the first
schedule of the working capital cartel agreement. 6. Now, the total
amount secured by the charge is Rs. 437.500 millions The security for
movable assets have been provided vide joint deed of hypothecation dated
11.02.2003 excluding that of Hinjewadi which is exclusively hypothecated with
the Bank of Maharashtra for the purpose of term loan of Rs. 200 millions The security for
immovable assets have been provided vide the memorandum of record of
equitable mortgage dated 12.06.2003 excludign that of Hinjewadi which is
exclusively mortgaged with the Bank of Maharashtra for the purpose of term
loan fo Rs. 200 millions Rs. 437.500
millions is secured to all the four bankers on pari passu basis to the extent
of individual sanctioned limits thereby modifying all earlier charges created
with the erstwhile companies before amalgamation. Vide this
document Bank of Maharashtra and Corporation Bank have released the
respective properties as stated in modification clause |
Fixed Assets:
- Building
- Plant and Machinery
- Electrical Installation
- Air Handling Equipment
- Computer Hardware
- Office Equipment
- Furniture and Fixtures
- Vehicles
- Computer Software
Trade References
- Wthlas
Pharmacautical Limited
- Phizer
- Glaxo
- Glenmark
As Per Web Details
Profile:
Established in 1981, Subject was born out of the vision to create a healthcare company that would address the vast healthcare needs. Our commitment and drive have propelled our growth from a single manufacturing facility during the genesis, to a range of world class manufacturing facilities spread across API, formulations and biotechnology.
What began with a single manufacturing facility at Pune, has today rapidly grown into a set of world class manufacturing facilities and one of the top Indian pharmaceutical corporates in the domestic industry.
Headquartered in
The Company has carved a niche for itself as a preferred
outsourcing partner for some of the largest MNCs both in
Subject also researches, manufactures and markets formulations
under its own brands in the domestic market and exports its own formulations to
Asia, Africa, CIS, Europe, Latin America and the
Today, the Subject brand stands for quality, competitiveness and transparency. These values have stood us in good stead to carve our image in the industry and build long-term sustainable relationships with our partners. Subject is building its pipeline of Chiral and conventional APIs and is emerging as a strong player in the biotechnology front.
Subject is also very active in dealing with HIV/AIDS concern
through its "Let's fight AIDS together" initiative and supplies
Antiretroviral drugs to
History:
Milestones
|
1981 |
- Emcure
Pharmaceuticals Private Limited incorporated. |
|
1983 |
- First
manufacturing facility commissioned at Bhosari, Pune. |
|
1995 |
- Beginning of own
product marketing. Normet launched. |
|
1996 |
- New marketing
division "Emcure Shweiz" launched. |
|
1997 |
- New marketing
division "Impetus" launched. |
|
1998 |
- Launch of the
popular Iron preparation "Orofer". |
|
1999 |
- New marketing
division "Nucron" and "International" division launched. |
|
2000 |
- New Marketing Division "Ennova" launched. |
|
2001 |
- New Marketing Divisions "Lasor" and "Ennova
Impetus" launched. |
|
2002 |
- Launch and commercialisation of S-Amlodipine and Asomex formulation. |
|
2003 |
- Launch and commercialisation of S-Atenolol and Atpure formulation. |
|
2004 |
- Solid Orals facility at Hinjwadi audited and approved by MCC- South
Africa. |
|
2005 |
- Hinjwadi solid dosage facility approved by UK MHRA.
|
|
2006 |
-
Completed
construction of Small Batches Manufacturing unit -
Elaxim
– TNKTPA launched. Dexpure and Emgrast
M launched. Also lunched
Atazor, under technical licence from BMS. |
Directors Profile:
Non Executive Directors
Mr. Humayun Dhanrajgir – Chairman
Mr. Humayun Dhanrajgir has a very rich and varied experience in the pharmaceutical industry. He has held several senior management positions including that of the Vice Chairman & Managing Director of Glaxo India Limited. He is a former President of the Organization of Pharmaceutical Producers of India (O.P.P.I). Mr. Dhanrajgir joined the Board of the Company in September, 2000.
Mr. Dhanrajgir is a graduate in Chemical Engineering from
Loughborough Universiy, U.K.Member - Institution of Chemical
Engineers, U.K. Chartered Engineer,
Some of the companies in which Mr. Dhanrajgir is an
Independent Non-Executive Director are Cadila Healthcare Limited,
HDFC Asset Management Company Limited, Neuland
Laboratories Limited, Next Gen Publishing Limited. He is also a Trustee of
Breach Candy Hospital Trust, Mumbai and on the Advisory Board of
U.S.Pharmacopeia (
Mr. Shreekant Bapat
Mr. S. K. Bapat has been associated with the Company since February 1999. He is a highly distinguished and decorated erstwhile officer of the Indian Police Service (IPS), having held senior appointments with the Government of India and the Government of Maharashtra like Joint Director, Intelligence Bureau, Ministry of Home Affairs, Commissioner of Police, Mumbai and Senior Member of the Maharashtra Public Service Commission. He was President of the Indian chapter of a global philanthropic Foundation for seven years. He has special interest in areas relating to National Security, Human Resource Development and Corporate Social Responsibility.
Mr. Berjis Desai
Mr. Berjis Desai specialises in mergers and acquisitions, derivatives, corporate and financial laws, international business laws and international commercial arbitration. He is the Managing Partner of J. Sagar Associates, a national law firm in Mumbai, Delhi, Bangalore, Hyderabad and Dubai. Mr. Berjis Desai has a long association with the Company. He joined the Company a Director in April, 1997.
Mr. Berjis Desai is a law graduate from the
Some of the companies in which Mr. Berjis Desai is Director are Praj Industries Limited, Adlabs Films Limited, Sterlite Industries (India) Limited, Reliance Asset Reconstruction Company Limited, The Great Eastern Shipping Company Limited and National Organic Chemical Industries Limited.
Dr. Mahendra Patel
Dr. Mahendra Patel has an all round expertise in the areas
of Active Pharmaceutical Ingredients, formulation development, Bio-equivalence
studies, Intellectual Property and Regulatory Process. He has the honor of
holding 30 patents to his credit. He set up and successfully led his own
generics company,Invamed,in the
Dr. Patel is a Ph.D in Pharmaceutical Science from
Dr. Patel is also on the Board of Zydus Pharmaceuticals USA, Inc.
Mr. Akhil Gupta
Mr. Akhil Gupta represents the Blackstone Group on the Board of the Company.
Mr. Gupta is Chairman and Managing Director of Blackstone
Advisors India Private Limited. Prior to Blackstone, he has worked as CEO –
Corporate Development for Reliance Industries Limited and Reliance
Infocomm Limited. He has held senior positions in various
organizations in the
Mr. Gupta is a B. Tech in Chemical Engineering from IIT,
Mr. Marvin Sampson
Mr. Marvin Samson was formerly Group Vice President – Worldwide Injectables of Teva. Mr. Samson previously served as President and Chief Executive Officer and a member of the Board of Directors of Sicor.
He is an expert in injectable manufacturing and delivery systems and was a founder, President and Chief Executive Officer of Elkins-Sinn (now a division of Baxter Healthcare) and Marsam Pharmaceuticals. He is the founder and Chief Executive Officer of Samson Medical Technologies, a privately held company providing hospital and alternate site pharmacists with injectable drug delivery systems and programs.
Mr. Samson served as the chairman of the Generic
Pharmaceutical Industry Association from 1997 to 2000. Mr. Samson is the holder
of five
Executive Directors
Mr. Satish Mehta
Mr. Satish Mehta is the Managing Director and founder member of the Company. He has vast experience in the pharmaceutical industry. He is the prime mover for various strategic alliances and growth plans of the Company. His dynamic leadership has led the Company to become a major player in the pharmaceutical industry.
Mr. Satish Mehta is a Post Graduate in Chemistry and MBA from IIM, Ahmedabad.
Mr. Arun Kumar Khanna
Mr. Arunkumar Khanna - Executive Director – heads Operations of the Company. He has over 30 years of rich and varied experience in leading pharma companies like Ranbaxy, Alkem and Cadila.
Since 1995, Mr. Khanna has played a pivotal role in transforming Emcure into the fastest growing Pharma Major. He has also been instrumental in ensuring the wide global reach of Emcure's leading brands. Emcure's Corporate Social Responsibility in the area of HIV/ AIDS has been widely acclaimed and appreciated as a result of his passionate efforts.
Mr. Mahesh Shah,
Director – Technical
Mr. Mahesh Shah is the Director (Technical) and in charge of the entire manufacturing operations of the Company. He has been in the pharmaceutical industry since 1976 and has been associated with Emcure since the Company’s inception.
Besides technical operations, Mr. Shah has also played a lead role in getting regulatory approvals from US FDA, UK MHRA,WHO Geneva and MCC.
Mr. Shah is a Post Graduate in Science.
Dr. Mukund Gurjar
Dr. Mukund Gurjar has over 30 years of experience in
pharmaceutical sciences and has spearheaded major projects in drugs and
pharmaceuticals. He is a leading fellow at various National and
Dr.Gurjar is a Post Graduate in Organic Chemistry from
News:
|
Month/Year |
News |
|
March 2007 |
Effective |
|
July 2006 |
Blackstone to Invest $50 million in Emcure Pharmaceuticals Limited Emcure Pharmaceuticals Limited and The Blackstone Group, announced
today that Emcure's Board of Directors has approved an agreement as part of
which The Blackstone Group and its affiliates would invest U.S. $50 million
in the Company. This transaction represents Blackstone's first investment in Mr Humayun Dhanrajgir, Chairman of Emcure's Board stated "The
board and management of Emcure were impressed with Blackstone's commitment to
the pharmaceutical sector and their level of diligence in exploring an
investment option in Emcure. The combination of Blackstone's
shareholding with the entrepreneurial skills of Satish Mehta, Managing
Director and major promoter of the Company, is a watershed in the development
of the Company into a leading pharmaceutical business." Mr. Satish Mehta, Managing Director of the Company, added, "We
are excited about the positive impact Blackstone will have on their growth
prospects. We evaluated various capital raising alternatives and are
delighted that we have been able to conclude a deal with Blackstone who we
believe will be an ideal partner for us. We look forward to their active
participation in their Board and their help with strategic relationships and
acquisitions given their expertise and network in the industry. Blackstone's
investment is a strong demonstration of their confidence in their management,
their strategy, and their future growth plan." Mr. Akhil Gupta, Chairman and Managing Director of Blackstone Advisors
India Private Limited, stated, "Their investment in Emcure reflects
their strong interest in the Indian pharmaceutical industry which we believe
is well positioned to show robust domestic growth as well as benefit from
increased amount of outsourcing to India. Satish has built a great
business with several drivers for future growth which is supported by a
high-quality and entrepreneurial management team. They believe their industry
expertise and relationships with the CEOs of some of the leading
pharmaceutical businesses in the world will complement the Company's growth
strategy. They look forward to working closely with Emcure in this next phase
of its evolution." |
|
April 2006 |
Meeting with H.E Mr Girma Wolde-Giorgis, President of the Mr. UD Balaji, General Manager, International Division recently met
H.E Mr Girma Wolde-Giorgis, President of the Federal Republic of
Ethiopia, at |
|
March 2006 |
Emcure part of the US Govt drive to find better HIV treatments for
children in poorest countries Mr. Satish Mehta, Managing Director, Mr. A K Khanna,
Director-Operations, and Mr. Nilesh Patel, Vice President, Emcure-USA, were
privileged to be invited to a function at the White House by the first lady
of US, Ms. Laura Bush, where she announced a new public-private partnership
to promote scientific and technical discussions on solutions for pediatric
HIV treatment, formulations and access. Emcure is honoured to be a part of
this collaboration which includes renowned innovator pharmaceutical companies,
generic pharmaceutical companies, multilateral organizations such as UNAIDS
and UNICEF and the US Government. The initiative forms part of the |
|
February 2006 |
Emcure enters into a strategic alliance with global giant
Bristol-Myers Squibb Emcure Pharmaceuticals Limited has entered into a strategic alliance with
Bristol-Myers Squibb, a global pharmaceutical giant,, as a part of
Bristol-Myers Squibb's global access programme. Under the agreement, Emcure
would manufacture the bulk drug, finished atazanavir and also market it in 50
countries in Sub-Sahara, Africa and On 15th of February 2006, the signing ceremony took place at BMS’s New
York Head Quarters. Mr.Lamberto Andriatti, President Pharmaceuticals, BMS and
Mr.Satish Mehta, Managing Director, Emcure Pharmaceuticals Limited, signed
the agreement. The drug, sold by Bristol-Myers Squibb under the brand name Reyataz®
in US, is not available in |
|
January |
Emcure sets up Centre for HIV/AIDS called ‘ As a part of its HIV/ AIDS initiatives, Emcure started the a pharmacy
for HIV/AIDS called ‘ |
|
January |
Solid Dosages Facility at Hinjewadi receives the USFDA The Solid dosages facility at Hinjewadi received the USFDA approval.
The approval proves the company’s world class standards. This success of the state-of-the-art
facility can be attributed to the excellent systems and processes put in
place by a highly competent team and the vision of the top management. During
2006, the company is targeting USFDA approvals for its injectables facility
at Hinjwadi, Pune and the API manufacturing plant at Kurkumbh. The solid
dosages facility has capacity of producing 6-10 billion tablets per annum. It
is also approved by UK-MHRA, MCC, |
|
June 2005 |
Emcure launches PanPure – Chirally Pure Pantoprazole With focus on chiral technology, Emcure launches PanPure,
S-Pantoprazole, which extends the frontiers of PPI therapy. PanPure (S-Pantoprazole) is an
Emcure R&D product, which is chirally pure & clinically sure compared
to racemic pantoprazole. |
|
June 2005 |
Emcure
launches Metpure XL world’s first Chirally pure extended release S (-)
Metoprolol Succinate. |
|
June 2005 |
Emcure
launches for the First time in India Foseal (Sevelamer hydrochloride)
for treating hyperphosphatemia. |
|
March 2005 |
Dr.
Kenneth Kaunda, First President of Zambia visits Emcure Emcure's pioneering efforts in battling the AIDS menace in |
|
March 2005 - |
Emcure bags prestigious
ARV orders Prestigious orders have been obtained for Emcure's ARV formulations
from various ministries of Health : |
|
February 2005 |
President of Iceland
formally inaugurates Hinjwadi facility. On |
|
February 2005 |
Emcure signs MOU with Actavis Group hf, a leading
European generic major for strategic partnership Emcure and Actavis Group hf. is a Euro 600 million
generics company with a strong global presence. The MoU was signed by Mr.
Robert Wessman, President & CEO, Actavis and Mr. Satish Mehta, Managing
Director, Emcure. This strategic partnership will play a
major role in Emcure's foray into the regulated markets. |
|
January 2005 |
UK MHRA Approval For Emcure’s Hinjwadi Facility January 2005 - UK MHRA Approval for
Emcure's Hinjwadi facility The UK Regulatory Authorities audited and approved
Emcure's Hinjwadi facility based on submission of manufacturing data of
products manufactured at this facility. With this UK MHRA approval, Emcure is
geared up to commence exports to |
|
January 2005 |
Dr. Mahendra Patel joins
the Emcure Board of Directors Dr. Mahendra Patel is very well known in the global pharmaceutical Industry
with over twenty |
|
November 2004 |
Emcure Pharmaceuticals
USA., Inc., incorporated Emcure's |
|
October 2004 |
- the 1st Indigenous Iron Sucrose injection in |
|
October 2004 |
Hinjwadi
facility approved by MCC, Emcure’s state-of-the-art solid dosages
facility at Hinjwadi, Pune is approved by the MCC, |
|
September 2004 |
SAP R/3 Enterprise version 4.7 goes live across
Emcure To streamline data flow between various
arms of the organization, help in areas such as material resource planning, as
well as provide access to real time information, Emcure has implemented SAP
R/3 Enterprise version 4.7. This implementation was done in a record time and
will go a long way in creating internal efficiencies as well as a robust
information management system. |
|
August 2004 |
Medical Advisory Board formed A high powered Medical Advisory Board to
guide and advise Emcure's effort to be closer to the customer was formed. Dr.
R. P. Soonawala, one of |
|
July 2004 |
Emcure launches Orofer XT Tablets, containing
Ferrous Ascorbate. The launched of Orofer XT Tablets,
containing Ferrous Ascorbate has revolutionised iron therapy. With its unique
ability to deliver extra rapid Hb Rise, Orofer XT is a fine example of
Emcure’s Research. |
|
May 2004 |
Mr. Humayun Dhanrajgir takes over as Chairman of
Emcure's Board of Directors Mr. Humayun Dhanrajgir, who has been
associated with Emcure for over a decade took over as the Chairman of Emcure's
Board of Directors. Emcure is all set to gain immensely from his direction
and guidance as well as by drawing from his vast experience and knowledge of
the pharmaceutical industry. |
|
March 2004 |
Emcure Hinjwadi declared
EOU Emcure has obtained an EOU status for the new unit at Hinjwadi.This is
a key achivement for Emcure's global supply outlook. The Hinjwadi
manufacturing facility spread over 200,000 square feet of space, dedicated to
solid dosages This facility has been created to global standards with a
installed capacity of 5 billion tablets and capsules which can be scaled up
as required. The facility is part of Emcure's strategic plan to form a part
of the global outsourcing of manufacturing and is in the process of audits
from major regulatory agencies of The ultra-modern Hinjwadi manufacturing facility is among the best in
the industry with great care taken on all aspects to ensure delivery of high
quality products. It augments their previous manufacturing facilities that
are dedicated to the domestic and neighbouring markets. |
|
December 2003 |
The increased focus on Anti Retroviral drugs at Emcure to battle the
global AIDS menace received a fillip with an initial order from the African
continent. This order is seen as the precursor to much more business that
would ensue in this area of battling AIDS in which Emcure has taken the
initiative both in |
|
September 2003 |
Emcure launches Atpure -
Chirally pure Atenolol (S-Atenolol) With the runaway success of S-Amlodipine (chiral Amlodipine) in Emcure as created a niche for itself in the area of chiral molecules
and has several other chirally pure forms of several drugs in the research
pipeline at various stages. |
|
July 2002 |
Zuventus Healthcare
launched Zuventus Healthcare
was launched in mid 2002 with the objective to
focus on therapeutic areas such as Anti infectives,
Gastroenterology, Life style disorders, Respiratory medicine and Nutritional
support. Zuventus has also entered
the Dermatology, Ophthalmology, Otology segments with the launch of its new
Division Zuvista. |
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.44.94 |
|
|
1 |
Rs.71.89 |
|
Euro |
1 |
Rs.64.09 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--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 |
|
64 |
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.