MIRA
INFORM REPORT
|
Report Date : |
12.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
GENNOVA BIOPHARMACEUTICALS LIMITED |
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Formerly Known
As : |
EMCURE DRAGON BITOECH 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) : |
31.03.2011 |
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Date of
Incorporation : |
19.06.2001 |
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Com. Reg. No.: |
11-016253 |
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Capital
Investment / Paid-up Capital : |
Rs. 605.114 Millions |
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CIN No.: [Company Identification
No.] |
U24231PN2001PLC016253 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNEE00413A |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Heamatinics, Erythropotin Preparation and Anti
Bacterial Formulation |
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No. of Employees
: |
Information not given by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 2300000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. There appears
some accumulated losses recorded by the company. Trade relations are reported
as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION DECLINED BY
|
Name : |
Mr. Gaurav Pancholi |
|
Designation : |
Accounts Department |
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Contact No.: |
91-20-30610000 |
|
Date : |
11.04.2012 |
LOCATIONS
|
Registered Office : |
Emcure House, T-184, MIDC Bhosari, Pune-411026, Maharashtra, India |
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Tel. No.: |
91-20-30610000 |
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Fax No.: |
91-20-30610111 |
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E-Mail : |
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Website : |
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|
Biotechnology Research and Development / Formulation – Injectables : |
Plot No. P1 IT-BT Park, Phase -2, MIDC, Hinjewadi, Pune-411057,
Maharashtra, India |
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Tel. No.: |
91-20-39821300 |
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Fax No.: |
91-20-39821441 |
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MANUFACTURING FACILITIES : |
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|
API Manufacturing |
Plot No. D-24, M.I.D.C., Kurkumbh, Daund, Pune-413802, Maharashtra,
India |
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Tel. No.: |
91-2117-305000 / 235742 |
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Fax No.: |
91-2117-235743 |
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Formulation – Solids : |
C – 10/12, M.I.D.C., Bhosari, Pune 411 026, Maharashtra, India
Tele No.: 91-20 -39821300 Fax No.: 91-20-39821340 |
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Small Batch Manufacturing : |
Plot No. PII IT-BT Park, Phase -2, MIDC, Hinjewadi, Pune-411057,
Maharashtra, India |
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Tel. No.: |
91-20-39821300 |
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Fax No.: |
91-20-39821444 |
DIRECTORS
AS ON 19.07.2011
|
Name : |
Mr. Satish Ramanlal Mehta |
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Designation : |
Director |
|
Address : |
4, Mumbai-Pune Road, Kirkee, Pune-411003, Maharashtra, India |
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Date of Birth/Age : |
13.01.1951 |
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Date of Appointment : |
19.06.2011 |
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DIN No.: |
00118691 |
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Name : |
Mr. Sunil Rajanikant Mehta |
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Designation : |
Director |
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Address : |
4, Mumbai-Pune Road, Kirkee, Pune-411003, Maharashtra, India |
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Date of Birth/Age : |
23.03.1963 |
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Date of Appointment : |
19.06.2001 |
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DIN No.: |
00118469 |
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Name : |
Mr. Nirmal Kumar Prafulla Kumar Ganguly |
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Designation : |
Director |
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Address : |
446-449, Hawa Singh Block Asiad Village Complex, New Delhi-110049,
India |
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Date of Birth/Age : |
11.11.1941 |
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Date of Appointment : |
30.05.2008 |
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DIN No.: |
02316154 |
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Name : |
Mr. Krishna Kumar Tewari |
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Designation : |
Director |
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Address : |
16, Urey Court, Irvine, USA-92617 |
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Date of Birth/Age : |
13.09.1937 |
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Date of Appointment : |
23.08.2007 |
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DIN No.: |
01746250 |
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Name : |
Mr. Arun Kumar Khanna |
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Designation : |
Director |
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Address : |
Clover Hills, Bungalow No. 63, Nibm Road, Kondhwa, Pune-4110048,
Maharashtra, India |
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Date of Birth/Age : |
09.07.1952 |
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Date of Appointment : |
19.06.2001 |
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DIN No.: |
00121686 |
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Name : |
Mr. Shreekant Krushnaji Bapat |
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Designation : |
Director |
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Address : |
Yashodhan, 2nd Floor, 56 United Western Co-operative
Housing Society, Karvenagar, Pune-411052, Maharashtra, India |
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Date of Birth/Age : |
06.10.1937 |
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Date of Appointment : |
23.04.2009 |
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DIN No.: |
00621568 |
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Name : |
Mr. Sanjay Singh |
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Designation : |
Whole Time Director |
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Address : |
Row House No.18, Atulexcellency, SR No.207/2, Wakad, Pune-411057,
Maharashtra, India |
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Date of Birth/Age : |
30.03.1967 |
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Date of Appointment : |
19.04.2007 |
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DIN No.: |
01693705 |
KEY EXECUTIVES
|
Name : |
Mr. Vishal Vishwas Vyas |
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Designation : |
Secretary |
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Address : |
S No.22, Padmavati Housing society, Flat No.101, Balajinagar,
Dhankawadi, Pune-411043, Maharashtra, India |
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Date of Birth/Age : |
02.11.1978 |
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Date of Appointment : |
09.11.2010 |
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Pan No.: |
AFRPV1964Q |
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|
|
|
Name : |
Mr. Gaurav Pancholi |
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Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 19.07.2011
|
Names of Equity Shareholders |
No. of Shares |
|
Satish Ramanlal Mehta |
560 |
|
Sunil Rajanikant Mehta |
690 |
|
Sanjay Mehta |
690 |
|
Samit Mehta |
460 |
|
Arunkumar Khanna |
100 |
|
Emcure Pharmaceuticals Limited, India |
4847500 |
|
Sanjay Singh |
661365 |
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Total |
5511365 |
AS ON 19.07.2011
|
Names of Preference Shareholders |
No. of Shares |
|
Emcure Pharmaceuticals Limited, India |
40000000 |
|
Zuventus Healthcare Limited, India |
15000000 |
|
Total |
55000000 |
AS ON 19.07.2011
|
Equity Shares
Break Up |
Percentage |
|
Bodies corporate |
87.95 |
|
Directors or relatives of Directors |
12.05 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Heamatinics, Erythropotin Preparation and Anti
Bacterial Formulation |
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Products : |
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PRODUCTION STATUS (AS ON 31.03.2011)
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Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Allopathic Pharmaceuticals Products |
Nos. |
40000000 |
40000000 |
-- |
|
Injectable Vials |
Nos. |
-- |
-- |
1395337 |
|
API |
G |
-- |
-- |
1596 |
GENERAL INFORMATION
|
No. of Employees : |
Information not given by the management |
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Bankers : |
·
State Bank of India Industrial Finance Branch,
Tara Chamber, 2nd Floor, Near Mariaai Police Chowky, Pune-Mumbai
Highway, Wakdewadi, Pune-411003, Maharashtra, India ·
The Bank of Maharashtra Limited, Tejsingh
Building, 35/B, Mumbai Pune Highway, Dapodi, Pune-411012, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Price Waterhouse Chartered Accountant |
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Address : |
252, Veer Savarkar Road, Shivaji Park, Mumbai-400028, Maharashtra,
India |
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Pan No. : |
AAEFP3641G |
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Holding Company : |
Emcure
Pharmaceuticals Limited U24231PN1981PLC024251 |
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Fellow Subsidiaries : |
Zuventus
Healthcare Limited U85320PN2002PLC018324 |
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Associates : |
H M Sales
Corporation |
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Enterprise over which Key Management Personnel
have significant influence: |
Zuventus
Healthcare Limited H.M. Sales
Corporation |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Millions |
|
55000000 |
Optional Convertible Redeemable Preference Shares |
Rs.10/- each |
Rs. 550.000 Millions |
|
|
Total |
|
Rs. 650.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5511365 |
Equity Shares |
Rs.10/- each |
Rs. 55.114
Millions |
|
55000000 |
Optional Convertible Redeemable Preference Shares |
Rs.10/- each |
Rs. 550.000 Millions |
|
|
Total |
|
Rs. 605.114 Millions |
NOTE
(A) [Of the above
Equity Shares, 4,847,500 (Previous Year: 4,847,500) Equity Shares are held by Emcure
Pharmaceuticals Limited (Holding Company)]
(C) [Of the above
Equity Shares, 4,847,500 (Previous Year: 4,847,500) Equity Shares are held by
Emcure Pharmaceuticals Limited (Holding Company)]
(E) [Of the above
Equity Shares, 4,847,500 (Previous Year: 4,847,500) Equity Shares are held by
Emcure Pharmaceuticals Limited (Holding Company)]
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
605.114 |
605.114 |
501.596 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(7.081) |
(52.298) |
(88.223) |
|
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NETWORTH |
598.033 |
552.816 |
413.373 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
277.775 |
318.243 |
346.246 |
|
|
2] Unsecured Loans |
344.973 |
320.616 |
449.391 |
|
|
TOTAL BORROWING |
622.748 |
638.859 |
795.637 |
|
|
DEFERRED TAX LIABILITIES |
88.923 |
88.922 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
1309.704 |
1280.597 |
1209.010 |
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|
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APPLICATION OF FUNDS |
|
|
|
|
|
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|
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FIXED ASSETS [Net Block] |
937.054 |
981.774 |
1014.201 |
|
|
Capital work-in-progress |
1.699 |
4.442 |
12.537 |
|
|
|
|
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INVESTMENT |
0.125 |
0.125 |
0.125 |
|
|
DEFERREX TAX ASSETS |
135.653 |
135.653 |
46.731 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
97.615
|
108.778 |
89.780 |
|
|
Sundry Debtors |
194.723
|
114.244 |
74.014 |
|
|
Cash & Bank Balances |
28.878
|
4.391 |
2.657 |
|
|
Other Current Assets |
0.324
|
0.455 |
0.425 |
|
|
Loans & Advances |
35.736
|
36.342 |
38.875 |
|
Total
Current Assets |
357.276
|
264.210 |
205.751 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
110.816 |
96.050 |
62.432 |
|
|
Other Current Liabilities |
4.671
|
4.715 |
4.508 |
|
|
Provisions |
6.616
|
4.842 |
3.395 |
|
Total
Current Liabilities |
122.103
|
105.607 |
70.335 |
|
|
Net Current Assets |
235.173
|
158.603 |
135.416 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1309.704 |
1280.597 |
1209.010 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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|
SALES |
|
|
|
|
|
|
|
Income |
830.031 |
672.014 |
480.037 |
|
|
|
Other Income |
38.314 |
38.326 |
91.297 |
|
|
|
TOTAL (A) |
868.345 |
710.340 |
571.334 |
|
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Material Cost |
176.254 |
129.383 |
119.149 |
|
|
|
Employee Cost |
161.051 |
126.070 |
94.967 |
|
|
|
Other Expenses |
324.701 |
267.064 |
200.210 |
|
|
|
TOTAL (B) |
662.006 |
522.517 |
414.326 |
|
|
|
|
|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
206.339 |
187.823 |
157.008 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
72.709 |
79.364 |
75.284 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
133.630 |
108.459 |
81.724 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
79.763 |
72.534 |
70.136 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
53.867 |
35.925 |
11.588 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
8.650 |
0.000 |
2.991 |
|
|
|
|
|
|
|
|
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|
PROFIT AFTER TAX
(G-H) (I) |
45.217 |
35.925 |
8.597 |
|
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(52.297) |
(88.222) |
(95.807) |
|
|
|
|
|
|
|
|
|
|
Effect of Notification issued on AS 11 |
0.000 |
0.000 |
1.012 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(7.080) |
(52.297) |
(88.222) |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
128.460 |
97.190 |
NA |
|
|
|
|
|
|
|
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|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
39.200 |
35.379 |
NA |
|
|
|
Finished Goods |
0.000 |
5.239 |
NA |
|
|
|
Capital Goods |
16.163 |
7.199 |
NA |
|
|
TOTAL IMPORTS |
55.363 |
47.817 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.20 |
6.72 |
1.68 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
5.21
|
5.06 |
1.50 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.49
|
5.35 |
2.41 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.77
|
2.60 |
0.91 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.06 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.39
|
1.51 |
2.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.93
|
2.50 |
2.93 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1. Year of Establishment |
Yes |
|
2. Locality of the firm |
Yes |
|
3. Constructions of the firm |
Yes |
|
4. Premises details |
No |
|
5. Type of Business |
Yes |
|
6. Line of Business |
Yes |
|
7. Promoter’s background |
Yes |
|
8. No. of Employees |
No |
|
9. Name of person contacted |
Yes |
|
10. Designation of contact person |
Yes |
|
11. Turnover of firm for last three years |
Yes |
|
12. Profitability for last three years |
Yes |
|
13. Reasons for variation <> 20% |
------- |
|
14. Estimation for coming financial year |
No |
|
15. Capital in the business |
Yes |
|
16. Details of sister concerns |
Yes |
|
17. Major suppliers |
No |
|
18. Major customers |
No |
|
19. Payments terms |
No |
|
20. Export / Import details |
Yes |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
23. Banking Details |
Yes |
|
24. Banking facility details |
Yes |
|
25. Conduct of the banking account |
------ |
|
26. Buyer visit details |
------ |
|
27. Financials, if provided |
Yes |
|
28. Incorporation details, if applicable |
Yes |
|
29. Last accounts filed at ROC |
Yes |
|
30. Major Shareholders, if available |
Yes |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors
|
|
|
|
|
Total outstanding dues of Micro and Small Enterprises |
0.000 |
0.0000 |
0.000 |
|
Total outstanding dues of Creditors other than Micro and Small
Enterprises |
110.816 |
96.050 |
62.432 |
|
Total |
110.816 |
96.050 |
62.432 |
RESULT OF OPERATIONS
The revenue
generated from Sales and services for the year is 868.345 Millions, as against
previous years Rs 710.341 Millions.
FORM 8
|
Corporate
identity number of the company |
U24231PN2001PLC016253 |
|
Name of the
company |
GENNOVA
BIOPHARMACEUTICALS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Emcure House, T-184, MIDC Bhosari, Pune-411026, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) Others |
|
Particular of
charge holder |
The Bank of Maharashtra Limited, Tejsingh Building, 35/B, Mumbai Pune Highway, Dapodi, Pune-411012, Maharashtra, India |
|
Nature of
instrument creating charge |
Out of total
credit facilities of Rs. 412.500 millions [term loans: Rs. 292.500 millions
and working capital facility: Rs. 120.000 millions], the company has repaid
term loan of Rs. 100.000 millions to bank of Maharashtra. No dues certificate
and NOC dated 5.03.2012 issued by bank of Maharashtra to release their first
pari passu charge on immovable and movable fixed assets of the company
situated at Plot No. P-1, Rajiv Gandhi ITBT Park, MIDC, Phase II, Hinjewadi,
Pune – 411057. |
|
Date of
instrument Creating the charge |
05.03.2012 |
|
Amount secured by
the charge |
Rs. 312.500
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Terms of repayment As Per Agreement Margin As Per Agreement |
|
Short particulars
of the property charged (Including location of the property) |
For Term Loans:
Primary Security of First Pari Passu Charge along with Existing Lenders on
Immovable Fixed Assets of The Company
Situated At Plot No. P - I, ITBT Park, M.I.D.C, Phase II,
Hinjewadi, Pune - 411 057 and Collateral Security of Second Pari Passu Charge
along with Existing Lenders on Current Assets [Stock And Book Debts of The
Company] For Working
Capital Facility: Primary Security of First Pari Passu Charge Along With
Existing Lenders on Current Assets Like Stock and Book Debts Etc. of The
Company and Collateral Security of Second Pari Passu Charge
along with Existing Lenders on Immovable And Movable Fixed Assets At Plot No.
P - I, ITBT Park, M.I.D.C, Phase II, Hinjewadi, Pune - 411 057. |
|
Charge
identification number of the charge to be modified |
90086867 |
|
Date of instrument
modifying the charge |
28.04.2011 |
|
Particulars of
the present modification |
On Repayment of
Rs. 100.000 Millions. Term Loan, Bank of Maharashtra (Bom) has Vacated Its
First Pari Passu Charge on immovable Fixed Assets of The Company Situated At
Plot No. P- I, ITBT Park, MIDC, Phase II, Hinjewadi, Pune-57 By This, Total
Charge For Credit Facilities on Parri Passu Basis Between Bom and State Bank
of India, Stands Modified From Rs. 412.500 Millions To Rs. 312.500 Millions. Security Terms For
All The Lenders Interest have been Modified To Include Addnl. Collateral
Security |
FIXED ASSETS
·
Leasehold Land
·
Building
·
Plant and Machinery
·
Computers
·
Office Equipments
·
Furniture and Fixtures
·
Computer Software
·
Vehicles
·
Product Development
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. 51.54 |
|
|
1 |
Rs. 81.94 |
|
Euro |
1 |
Rs. 67.56 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
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.