MIRA
INFORM REPORT
|
Report Date : |
02.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
HETERO DRUGS
LIMITED |
|
|
|
|
Registered Office : |
7-2-A2, Hetero
Corporate Industrial Estate, Sanath Nagar, |
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|
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Country : |
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|
|
|
Financials (as on) : |
31.03.2010 |
|
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|
|
Date of Incorporation : |
06.04.1993 |
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|
|
|
Com. Reg. No.: |
01-15582 |
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|
|
Paid up Capital : |
Rs.34.500
Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24230AP1993PLC015582 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MYDH00393B/
HYDH00393B |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACH5071K |
|
|
|
|
Legal Form : |
A Closely Held
Public Limited Liability Company |
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|
|
|
Line of Business : |
Manufacturer of
Active Pharmaceutical Ingredients, Intermediate Chemicals and Finished
Dosages. |
|
|
|
|
No. of Employees : |
5000
(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (67) |
|
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 21000000 |
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|
|
|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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|
|
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Litigation : |
Clear |
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|
Comments : |
Subject is a well established company having good 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 good for normal 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
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. Peta Reddy |
|
Designation : |
Finance Director |
LOCATIONS
|
Registered
Office/Corporate Office : |
7-2-A2, Hetero
Corporate Industrial Estate, Sanath Nagar, |
|
Tel. No.: |
91-40-23704923 / 24 / 25 / 26 / 27 / 28 / 23707171 / 7272 / 7744 |
|
Fax No.: |
91-40-23714250 / 23704926 |
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E-Mail : |
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|
Website : |
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|
Area : |
3000 Sq. ft |
|
Locations : |
Owned |
|
|
|
|
Factory: |
·
Unit
I - ·
Unit
II – Plot no. 16, CIE, Gandhinagar, Jeedimetla, ·
Unit III
– 22-110, IDA, Jeedimetla, ·
S.
No.10, IDA, Gaddapotharam, |
|
|
|
|
Research/
Development Centre: |
Plot No. B 80 and
81, APIE Balanagar, |
|
|
|
|
Regional
Office: |
607/ 608, 6th
Floor, Matharu Arcade, |
|
Tel No.: |
91-22-66910809 |
|
Fax No.: |
91-22-26845709 |
|
Area : |
1500 sq. ft. |
|
Locations : |
Owned |
DIRECTORS
As on : 02.09.2010
|
Name : |
Dr. B.
Parthasaradhi Reddy |
|
Designation : |
Chairman and
Managing Director |
|
Address : |
Plot 389, Road
No. 22/ B, Jubilee Hills Check Post, |
|
Date of
Birth/Age : |
06.03.1954 |
|
Date of
Appointment : |
07.04.1993 |
|
|
|
|
Name : |
Mr. B. Nagi Reddy |
|
Designation : |
Executive
Director |
|
Address : |
G 1, Sairanga
Apartments, Madhura Nagar, Yousufguda, |
|
Date of
Birth/Age : |
10.06.1962 |
|
Date of
Appointment : |
23.04.1993 |
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|
|
|
Name : |
Mr. M. Pera Reddy |
|
Designation : |
Director
(Finance) |
|
Address : |
Flat 310, Park View
Apartments, Pragathi Nagar, Yousufguda, |
|
Date of
Birth/Age : |
15.07.1962 |
|
Date of
Appointment : |
10.08.1994 |
|
|
|
|
Name : |
Mr. A. V. Narasa
Reddy |
|
Designation : |
Director - Corporate Technical Services |
|
Address : |
Flat 201, Nandi
Enclave, Plot 149, Sidhartha Nagar, |
|
Date of
Birth/Age : |
21.12.1963 |
|
Date of
Appointment : |
28.01.1999 |
|
|
|
|
Name : |
Mr. J. Sambi
Reddy |
|
Designation : |
Director
Production |
|
Address : |
Plot No. 102,
Flat No. 205, Saispurthi Apartments, Motinagar, Borabanda, |
|
Date of
Birth/Age : |
01.01.1969 |
|
Date of
Appointment : |
18.11.1999 |
|
|
|
|
Name : |
Mr. C. Bhaskar
Reddy |
|
Designation : |
Director Quality
Control |
|
Address : |
Plot No. 102,
Flat No. 205, Saispurthi Apartments, Motinagar, Borabanda, |
|
Date of
Birth/Age : |
04.11.1957 |
|
Date of
Appointment : |
18.11.1999 |
|
|
|
|
Name : |
Mr. M. Srinivasa
Reddy |
|
Designation : |
Director |
|
Address : |
Plot No. 933,
Vivekananda Nagar, Kukatpally, |
|
Date of
Birth/Age : |
02.02.1973 |
|
Date of Appointment
: |
01.04.2001 |
|
|
|
|
Name : |
Mr. B Vamsi
Krishna |
|
Designation : |
Director |
|
Address : |
Plot No. 389,
Road No. 22/B, Jubilee Hills Check-Post, Madhapur Road, Hyderabad-500033,
Andhra Pradesh, India |
|
Date of
Birth/Age : |
31.07.1983 |
|
Date of
Appointment : |
10.04.2008 |
KEY EXECUTIVES
|
Name : |
Mr. S Vasu Reddy |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Mr. TVR Satya Prasad |
|
Designation : |
Vice President - Finance and Head of Legal/Corporate
Secretarial |
|
|
|
|
Name : |
Mr. Faisal Ahmed |
|
Designation : |
Head – Sales |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 02.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
B Partha Saradhi Reddy |
|
500000 |
|
B Partha Saradhi Reddy HUF |
|
175000 |
|
B Kalvathi |
|
514000 |
|
B Nagi Reddy |
|
90000 |
|
M Pera Reddy HUF |
|
12500 |
|
A V Narsa Reddy |
|
67000 |
|
B Narsa Reddy |
|
67500 |
|
Bandi Investments
Private Limited, Andhra Pradesh |
|
848500 |
|
C Mohan Reddy |
|
9000 |
|
J Sambi Reddy |
|
9000 |
|
M Madavi |
|
17000 |
|
Tanmayee |
|
25000 |
|
Pera Reddy |
|
28500 |
|
BNagi Reddy - HUF |
|
95000 |
|
B Padmavathi |
|
86000 |
|
A.V. Narasa Reddy
- HUF |
|
25000 |
|
B. Narasa Reddy -
HUF |
|
25000 |
|
B. Baby |
|
25000 |
|
B |
|
426000 |
|
B. Vamsi Krishna |
|
150000 |
|
A. Pushpa Latha |
|
25000 |
|
C. Bhaskara Reddy
|
|
9000 |
|
Ms. M. Namrata |
|
25000 |
|
B Divya |
|
25000 |
|
A. Dinesh Reddy |
|
25000 |
|
A.S. Sadhana |
|
12500 |
|
B. Dinesh Reddy |
|
35000 |
|
A. Vankata Reddy |
|
29500 |
|
Dharmesh M. Shah |
|
25000 |
|
M Prasanthi |
|
1000 |
|
P. Lalitha |
|
1000 |
|
U S |
|
1000 |
|
K Sudhakar Reddy |
|
1000 |
|
A. Sudhakar Reddy
|
|
1000 |
|
Master M.
Karthkeya Reddy |
|
7000 |
|
K. V. Bhaskara
Reddy |
|
2000 |
|
K. Rami Reddy |
|
2000 |
|
Mrs. P. Sasi
Kumari |
|
5000 |
|
K Ratnakar Reddy |
|
2000 |
|
B. Soma Kantham |
|
5000 |
|
B.H. Janardhan Reddy
|
|
2000 |
|
P. Venkata Reddy |
|
5000 |
|
Ch. Koteswar Rao |
|
1000 |
|
V. R. Bharat
Reddy |
|
1000 |
|
B. Srinivasula
Reddy |
|
5000 |
|
V Malla Reddy |
|
1000 |
|
P Satyanarayana
Reddy |
|
1000 |
|
|
|
|
|
Total |
|
3450000 |
Equity Share Breakup (Percentage of total Equity) As on : 02.09.2010
|
Category |
|
Percentage |
|
Bodies corporate (not mentioned above) |
|
25.00 |
|
Directors or relatives of directors |
|
69.00 |
|
Other top fifty (50) shareholders (Other than listed
above) |
|
6.00 |
|
|
|
|
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Active
Pharmaceutical Ingredients, Intermediate Chemicals and Finished Dosages. |
|
|
|
|
Products : |
· Bulk Drugs · Losartan Potassium · Omeprazole · Formulations · Bicalutomide · Simvastatin · Tegaderoid Maleate · Quetiapine Fumerate |
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|
|
|
Exports : |
|
|
Products : |
Active
Pharmaceutical Ingredients, Intermediate Chemicals, Finished dosages |
|
Country : |
·
·
·
·
·
·
·
·
Africa
|
|
|
|
|
Terms : |
|
|
Purchasing |
Cash, Credit (30
/ 60 / 90 days) |
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|
|
|
Selling |
Cash, Credit (30
/ 60 / 90 days) |
PRODUCTION STATUS
Class of goods, Capacity and Production
|
A. Class of goods manufactures : |
31.03.2010 |
31.03.2009 |
|
Licensed Capacity |
|
|
|
(i) Bulk Drugs |
NA |
NA |
|
(ii) Formulations |
NA |
NA |
|
|
|
|
|
Installed Capacity |
|
|
|
(i) Bulk Drugs (TPA) |
1500.00 |
700.00 |
|
(ii) Formulations (Milln, Units) |
3000.00 |
3000.00 |
|
|
|
|
|
Actual Production |
|
|
|
(i) Bulk Drugs (TPA) |
688.44 |
362.82 |
|
(ii) Formulations (Milln, Units) |
1946.81 |
1594.17 |
Note :
(i)
The installed capacity is
calculated based on product mix and same is certified by the Management
(ii)
Actual Production of Bulk
Drugs Includes 282.22 Tonnes for Captive consumption
GENERAL INFORMATION
|
Suppliers : |
·
Hetero Information Technologies Limited ·
Hetero Labs Limited ·
Cirex Pharmaceuticals Limited ·
Genx Pharma Limited ·
Chemi Pack ( ·
Hetero Infrastructure SEZ Limited ·
Hetero Med Solutions Limited ·
Arafarma Group Inc. |
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Customers : |
·
Hetero Healthcare Limited ·
Hetero International ·
Hetero Singapore Pte Limited ·
Hetero FZCO ·
Hetero ·
Invagen Pharmaceuticals Inc ·
Camber Pharmaceuticals Inc ·
Genx Pharma Limited ·
Clinse Labs Private Limited ·
Symed Labs Limited ·
Expicor Pharma Private Limited ·
Hetmak FZCO, |
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No. of Employees : |
5000
(Approximately) |
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Bankers : |
·
State
Bank of ·
State
Bank of ·
State
Bank of ·
Bank
of ·
Industrial
Development Bank Limited, Mahavir House, Basheerbagh, Andhra Bank,
Industrial Fin Branch – Ameerpet, |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
|
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|
Name : |
M.V. Narayana
Reddy and Company Chartered Accountants |
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|
Address : |
504, Vijaysree
Apartments, Ameerpet, |
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Tel. No.: |
91-40-23744448 /
23743975 |
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Associates/Subsidiaries : |
·
Hetero
Labs Limited · Cirex Pharmaceuticals Limited ·
Genix
Pharma Limited · Symed Labs Limited ·
Chemi
Pack ( ·
Hetero
Healthcare Limited ·
Hetero
Infrastructure SEZ Limited ·
Sri
Sai Ashirwad Logistics Limited ·
Hetero
Med Solutions Limited ·
Hetero
Med Solutions Limited · Hetero Bio Chemical Limited ·
Clinse
Labs Private Limited ·
Hetero
Singapore PTE Limited ·
Hetero
FZCO ·
Invagen
Pharmaceuticals Inc ·
Hetero
USA Inc ·
Arafarma
Group Inc. ·
Camber
Pharmaceuticals Inc. ·
Hetero
( ·
Hetmak
FZCO, Subsidiaries : ·
Saketha
Drugs and Intermediates Limited ·
Hetero
Biotech Limited ·
Expicor
Pharma Private Limited |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity shares |
Rs.10/- each |
Rs.100.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3450000 |
Equity shares |
Rs.10/- Each |
Rs.34.500
Millions |
Note:
Of the above 2760000 Equity Shares were allotted
as fully paid up Bonus Shares by capitalizing General Reserves.
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 |
34.500 |
34.500 |
34.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
5294.773 |
4126.908 |
3303.705 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
5329.273 |
4161.408 |
3338.205 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
4416.387 |
4544.151 |
3744.971 |
|
|
2] Unsecured Loans |
1549.813 |
162.394 |
167.394 |
|
|
TOTAL BORROWING |
5966.200 |
4706.545 |
3912.365 |
|
|
DEFERRED TAX LIABILITIES |
640.242 |
513.084 |
411.811 |
|
|
|
|
|
|
|
|
TOTAL |
11935.715 |
9381.037 |
7662.381 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
5000.744 |
4044.248 |
3456.617 |
|
|
Capital work-in-progress |
897.646 |
652.069 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
427.474 |
465.009 |
375.570 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3020.422
|
2244.206
|
1750.539
|
|
|
Sundry Debtors |
4734.947
|
3652.960
|
2467.193
|
|
|
Cash & Bank Balances |
180.843
|
10.945
|
44.827
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
1659.672
|
1308.259
|
1059.402
|
|
Total
Current Assets |
9595.884
|
7216.370
|
5321.961
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
3682.931
|
2795.794
|
1377.084
|
|
|
Current Liabilities |
0.000
|
0.000
|
0.000
|
|
|
Provisions |
303.102
|
201.005
|
115.033
|
|
Total
Current Liabilities |
3986.033
|
2996.799
|
1492.117
|
|
|
Net Current Assets |
5609.851
|
4219.571
|
3829.844
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.140 |
0.350 |
|
|
|
|
|
|
|
|
TOTAL |
11935.715 |
9381.037 |
7662.381 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
15033.169 |
11670.554 |
8321.314 |
|
|
|
Other Income |
304.627 |
374.501 |
42.930 |
|
|
|
TOTAL (A) |
15337.796 |
12045.055 |
8364.244 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Expenses |
753.977 |
650.104 |
461.832 |
|
|
|
Administrative Expenses |
968.602 |
921.002 |
658.725 |
|
|
|
Raw Material Consumed |
10469.057 |
8043.056 |
5533.226 |
|
|
|
Purchases of Trading Goods |
458.763 |
337.408 |
0.000 |
|
|
|
Increase/(Decrease) in Finished Goods |
(362.253) |
(205.806) |
(241.954) |
|
|
|
Employee cost |
704.347 |
442.952 |
284.709 |
|
|
|
Preliminary Expenses W/off |
0.140 |
0.140 |
0.140 |
|
|
|
Purchases made for re-sale |
0.000 |
0.000 |
330.231 |
|
|
|
TOTAL (B) |
12992.633 |
10188.856 |
7026.909 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2345.163 |
1856.199 |
1337.335 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
517.502 |
490.268 |
248.299 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1827.661 |
1365.931 |
1089.036 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
259.540 |
196.832 |
141.837 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1568.121 |
1169.099 |
947.199 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
393.015 |
331.173 |
252.310 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H)
(I) |
1175.106 |
837.926 |
694.889 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
8.798 |
7.457 |
4.833 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
1170.000 |
821.863 |
685.000 |
|
|
|
Dividend |
6.210 |
6.210 |
6.210 |
|
|
|
Tax on Dividend |
1.031 |
1.055 |
1.055 |
|
|
BALANCE CARRIED
TO THE B/S |
6.662 |
8.797 |
7.457 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
7288.551 |
7065.507 |
NA |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2133.270 |
2747.767 |
NA |
|
|
|
Stores & Spares |
0.000 |
0.000 |
NA |
|
|
|
Capital Goods |
101.048 |
85.314 |
NA |
|
|
|
Others |
36.893 |
14.609 |
NA |
|
|
TOTAL IMPORTS |
2271.211 |
2847.690 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
340.610 |
-- |
201.42 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
7.66
|
6.95 |
8.31
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.43
|
10.01 |
11.38
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.74
|
10.38 |
10.79
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.28 |
0.28
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.86
|
1.85 |
1.62
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.40
|
2.40 |
3.57
|
LOCAL AGENCY FURTHER INFORMATION
REVIEW OF PERFORMANCE AND FUTURE OUTLOOK
During the year, the
company’s Net Turnover crossed the Rs.15000.000 millions mark and earnings also
crossed the Rs.1500.000 millions mark, first time company’s history.
The company achieve
a commendable Net Turnover of Rs.15033.169 millions (previous Year
Rs.11670..554 millions) thereby registering a growth of 28.81% over previous
year. Also, the company’s exports for 2009-10 stood at Rs.7321.700 millions
(previous year Rs.7138.584 millions) thereby registering a growth of 3%. Drug
Master Files for several products have been filed in various countries like US,
To be in line with
the changing regulations across the world the company has taken several steps
in terms of improving infrastructure systems and establishing compliance to the
regulations in various countries. The company has made significant advances in
marketing its products in all the countries where the laws are very stringent.
In order to tap the
demand in international market, the company has made some strategic investments
in various countries like
FORM : 8
|
Name of the company |
HETERO DRUGS
LIMITED |
|
Presented By |
M Pera Reddy,
Director Finance |
|
1) Date and description of instrument creating the change |
Dated 21.03.2005 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Agreement of loan
for overall limit (CI) Agreement of
Hypothecation of Goods and Assets (C2) Agreement of
Pledge of Goods and Assets (C3) Letter granting
Individual Limits within the overall limit (C5) |
|
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 |
Term Loan of Rs.
300.000 Millions 1.First charge on
entire fixed assets of the company 2. Second charge
on current assets of the company |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
a. Loan amount of
Rs.300.000 Millions shall be repaid in 18 quarterly installments commencing
form 01.04.2005 |
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of |
|
6) Date and brief description of instrument modifying the charge |
Not Applicable |
|
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. |
Not Applicable |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10101561 |
|
Corporate
identity number of the company |
U24230AP1993PLC015582 |
|
Name of the
company |
HETERO DRUGS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Hetero
House, 8-3-166/7/1/B Erragada, |
|
Type of charge |
Book Debts Movable Property Immovable Property Others Any Interest in
immovable property |
|
Particular of
charge holder |
State Bank of |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of
Entry 1113 |
|
Date of
instrument Creating the charge |
07.05.2009 |
|
Amount secured by
the charge |
Rs. 3250.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As agreed between
the Individual Bankers and company Terms of
Repayment According to
Banks sanction letters and revised term and conditions Margin As stated in the
sanction letters Extent and
Operation of the charge ·
Pari
passu first charge to all term loan bankers against all fixed assets situated
at various units across the country ·
Pari
passu second charge to all working capital lenders against all current assets
situated at various units across the country. |
|
Short particulars
of the property charged |
All Fixed assets
situated at various units across the country and all current assets including
book debts of the company |
|
Date of latest
modification prior to the present modification |
23.10.2008 |
|
Particulars of
the present modification |
Enhancement of
pari passu first charge form Rs. 2500.000 Millions to Rs. 3250.000 Millions State Bank of State Bank
of State Bank of Andhra Bank Rs.
300.000 Millions State Bank of Bank of |
|
Corporate
identity number of the company |
U24230AP1993PLC015582 |
|
Name of the
company |
HETERO DRUGS
LIMITED |
|
Address of the registered
office or of the principal place of
business in |
7-2-A2, Hetero
Corporate, Industrial Estate, Sanathnagar |
|
This form is for |
Modification of
charge |
|
Type of charge |
Book Debts Movable Property Floating Charges Others |
|
Particular of
charge holder |
State Bank of Sanathnagar
Branch, Industrial Estate,
Sanathnagar, |
|
Nature of
instrument creating charge |
1. Agreement of
Hypothecation of Goods and Assets 2. Agreement of
Loan for Overall Limit 3. Letter
regarding grant of Individual Limits within the Overall Limit |
|
Date of
instrument Creating the charge |
02/07/2010 |
|
Amount secured by
the charge |
Rs. 3450.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
: CC (Hyp)
BPLR-1.75% (floating) i.e presently at 10.50% p.a. with monthly rests Terms of
Repayment : Repayable on
demand and will renewed every 12 months Margin : Receivables -
25%; (15% in case of Receivables of Govt. Departments & UN Organisations) EPC/PCFC - 10% FUBD/FDBP - Nil IUBD - Nil Letter of Credit
(Inland/Foreign) (DA/DP) - Nil BG- Nil, 100% for
Disputed BGs Extent and
Operation of the Charge : Primary: First
pari passu charge on all present & future Current Assets of the company
on pari passu basis with other consortium Banks viz Bank of India, State Bank
of India and State Bank of Mysore. Collateral : Second
charge on all fixed assets of the company ranking pari passu with other
consortium Banks. Others : Personal
Guarantee of Sri. B. Parthasaradhi Reddy, Chairman |
|
Short Particulars
of the property charged |
|
|
Date of
instrument modifying the charge |
29/12/2008 |
|
Particulars of
the present modification |
Existing Enhanced FUND C.C/WCDL/EPC Rs in millions PCFC/FDBP 1125.000 1620.000 Stand by limit ---- 300.000 Stand-by Line of Credit 50.000 ---- NON-FUND L.C 900.000 1350.000 B.G 1125.000 1620.000 TOTAL 2300.000 3540.000 |
FIXED ASSETS
·
Land
·
·
·
Plant
and Machinery
·
Trade
Mark
·
Technical
Know how
·
Effluent
Treatment Plant
·
Electrical
Equipments
·
Furniture
and Fixtures
·
Lab
Equipments
·
R and D
Equipments
·
R and D
Building
·
Office
Equipments
·
Computers
·
Vehicles
·
Office
Buildings
·
Vehicles
·
Office
Buildings
TRADE REFERENCES
·
Health
Biotech Limited
·
Chroma
Laboratories
·
Micro
Clean Zone,
WEB DETAILS
PROFILE
Subject is a
research based global pharmaceutical company focused on development,
manufacturing and marketing of Active Pharmaceutical Ingredients (APIs),
Intermediate Chemicals and Finished Dosages. Ever since its establishment in
1993, Subject showed a tradition of excellence and deep sense of commitment in
developing cost effective processes to offer wide range of affordable drugs.
Subject is
building on the strengths of vertical integration in discovery research,
process chemistry, API manufacturing, formulation development and
commercialization. Subject is a international supplier with a rich portfolio of
over 200 products from wide range of therapeutic categories both in active pharmaceutical
ingredients and finished dosages.
Subject’s
manufacturing facilities are cGMP compliant meeting global standards in terms
of infrastructure and systems. Majority of them are approved by the various
regulatory authorities of USFDA, WHO-Geneva, Australian TGA, Spanish agency of
medicines and health care products, ANVISA-Brazil, IDA-Netherlands etc.,
With full-fledged
marketing capabilities, the company has been able to market its products in
over 138 countries across the globe.
BUSINESS DESCRIPTION
Production, distribution and export of bulk chemicals, including analgesics, anticonvulsants, antibacterials, antihistamines, antiulceratives and antihypertensives. The flagship company of the Hetero Group.
PRESS RELEASES
MARKETING AND
APPROVAL OF 'QUAD';APPLICATION FILED BEFORE USFDA
New Delhi, October 28 -- Gilead Sciences Inc, the world s largest AIDS-drug maker, has announced that it has submitted a New Drug Application (NDA) to the US Food and Drug Administration (FDA) for marketing approval of the Quad, which combines four Gilead HIV medicines. The drugs that are combined are elvitegravir, cobicistat, emtricitabine and tenofovir and disoproxil fumarate-the combine for the treatment of HIV-1 infection in adults. If approved, the Quad would be the only once-daily, single-tablet regimen containing an integrase inhibitor, a class of antiretroviral drug designed to block the action of integrase, a viral enzyme that inserts the viral genome into the DNA of the host cell. Interestingly, Quad is one of the three drugs that four India-based drug manufacturers -- Hetero Drugs Ltd., Matrix Laboratories Limited, Ranbaxy Laboratories Limited and Strides Arcolab Limited-- will be able to produce and sell the generic version once the drug is approved by the USFDA.
CRIME-AP-JAGAN-CBI
TWO LAST
CBI SEARCHES 12
OFFICES ON DAY TWO
During
the second day of searches, sleuths said that they had seized incriminating
evidence including thousands of documents and computers hard discs. The entire
process of raids was video-recorded. The places where CBI officials conducted
the raids include, Vanpic offices in Raj Bhavan Road, Navbharat Constructions
in Somajiguda, Nimmagadda Foundation in Gayathri Apartment at Vikrampuri,
Aurobindo Pharma office at Mythri Vihar complex in Ameerpet, Penna Cements
office in Road Number 3, Banjara Hills, RR Global Infotech office in Banjara
Hills, Brahmini Infotech office in Somajiguda and Hetero Drugs offices in
Sanatnagar.
"Part
of the searches was over and some of the CBI personnel drawn from other units
in the state are returning to their respective office. We are in the process of
analyzing the evidence gathered so far and it is too early to make any
arrests," a CBI official said. CBI official spokesperson Dharini Mishra
told TOI that on Friday the searches had been conducted only in Hyderabad city
and no where else.
Part
of the searches was over and some of the officials drawn from other units in
the state are returning to their respective offices. We are in the process of
analyzing the evidence gathered so far and it is too early to make any arrests,
said a CBI official.
CRIME-JAGAN-CBI-LEAD
RAIDS THREE
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.49.07 |
|
|
1 |
Rs.78.78 |
|
Euro |
1 |
Rs.67.75 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
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 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
67 |
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.