1. Summary Information
|
|
|
Country |
|
|
Company Name |
ANU’S LABORATORIES LIMITED |
Principal Name 1 |
Mr. K. Hari Babu |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. M.S.S.V. Satyanarayana |
|
|
|
Registration # |
01-023283 |
|
Street Address |
H. No. A-49, Madhuranagar, Yousufguda, |
||
|
Established Date |
20.02.1996 |
SIC Code |
-- |
|
Telephone# |
91-40-23741677 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-40-23741678 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Bulk Drug Intermediates |
|
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.244,459,983/-
|
Product Name 3 |
-- |
|
Shareholders |
Shareholding of
Promoter and Promoter Group – 48.09%, Public Shareholding – 51.11% |
Banking |
IDBI Bank |
|
Public Limited Corp. |
Yes |
Business Period |
16 Years |
|
IPO |
Yes |
International Ins. |
- |
|
Public |
Yes |
Rating |
Ba (45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates |
-- |
Sambasiva Transport |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,022,980,000 |
Current Liabilities |
109,030,000 |
|
Inventories |
691,930,000 |
Long-term Liabilities |
1,094,520,000 |
|
Fixed Assets |
1,158,000,000 |
Other Liabilities |
95,620,000 |
|
Deferred Assets |
10,600,000 |
Total Liabilities |
1,299,170,000 |
|
Invest& other Assets |
35,460,000 |
Retained Earnings |
1,375,340,000 |
|
|
|
Net Worth |
1,619,800,000 |
|
Total Assets |
2,918,970,000 |
Total Liab. & Equity |
2,918,970,000 |
|
Total Assets (Previous Year) |
2,818,140,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
2,694,140,000 |
Net Profit |
172,980,000 |
|
Sales(Previous yr) |
2,038,210,000 |
Net Profit(Prev.yr) |
211,650,000 |
MIRA
INFORM REPORT
|
Report Date : |
17.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
ANU’S LABORATORIES LIMITED |
|
|
|
|
Registered
Office : |
H. No. A-49, Madhuranagar, Yousufguda, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
20.02.1996 |
|
|
|
|
Com. Reg. No.: |
01-023283 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.244.460 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24230AP1996PLC023283 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDA03184G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCA0071G |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchange. |
|
|
|
|
Line of Business
: |
Manufacturer of Bulk Drug
Intermediates. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6480000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct 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 – 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 |
LOCATIONS
|
Registered Office : |
H. No. A-49, Madhuranagar, Yousufguda, |
|
Tel. No.: |
91-40-23741677 |
|
Fax No.: |
91-40-23741678 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
A-49, Madhura Nagar, Vengalarao Nagar, |
|
Tel. No.: |
91-40-23741677 |
|
Fax No.: |
91-40-23741678 |
DIRECTORS
As on 31.03.2011
|
Name : |
Mr. K. Hari Babu |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. M.S.S.V. Satyanarayana |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr. K. Rajeswara Rao |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Chakravarthi Sundarashyam |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Ravindran Parthasarathy |
|
Designation : |
Director |
MANAGEMENT TEAM
|
Name : |
Mr. Mikkelineni Ajay Kumar |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Kosaraju Hari Babu |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. M.S.S.V. Satyanarayana |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr. Rajeswara Rao Kosaraju |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Chakravarthi Sundarashyam |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Ravi Parthasarathy |
|
Designation : |
Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2011
|
Category of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
117,569,150 |
48.09 |
|
|
117,569,150 |
48.09 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
117,569,150 |
48.09 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
1,939,170 |
0.79 |
|
|
1,939,170 |
0.79 |
|
|
|
|
|
|
21,773,407 |
8.91 |
|
|
|
|
|
|
87,158,440 |
35.65 |
|
|
13,640,147 |
5.58 |
|
|
2,379,669 |
0.97 |
|
|
2,335,900 |
0.96 |
|
|
960 |
- |
|
|
42,809 |
0.02 |
|
|
124,951,663 |
51.11 |
|
Total Public
shareholding (B) |
126,890,833 |
51.91 |
|
Total (A)+(B) |
244,459,983 |
100.00 |
|
(C) Shares held by
Custodians and against which Depository Receipts have been issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
- |
- |
|
Total
(A)+(B)+(C) |
244,459,983 |
- |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Bulk Drug
Intermediates. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Unit |
Actual
Production |
|
Bulk drugs and intermediates |
MT |
40883 |
As certified by
the management. Being technical matter accepted by the auditors as correct
Note: a. Including
contract manufacturing and purchases of finished goods.
b. Installed
capacity is flexible as the plant is versatile; enabling the Company to produce
in different capacities and therefore it varies depending on the product
programmed.
GENERAL INFORMATION
|
Customers : |
·
·
Polpharma ·
Zentiva ·
Temad ·
Sun Pharmaceuticals Limited ·
Matrix Laboratories Limited ·
Suven Life Sciences Limited ·
Hiran Orgochem Limited ·
Ballarpur Industries Limited ·
Delta Paper Mills Limited ·
Emami ·
Ipca Laboratories Limited ·
Orchid Chemicals and Pharmaceuticals
·
Southern Online Bio
Technologies Limited |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
·
Andhra Pradesh State Financial Corporation ·
Development Credit Bank ·
IDBI Bank ·
ING Vysya Bank Limited ·
Karur Vysya Bank Limited ·
State Bank of |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Karumanchi and Associates Chartered Accountants |
|
Address : |
Plot No. 301,
7-1-619/A, Swarganivas Enclave, Ameerpet, |
|
|
|
|
Associates : |
Sambasiva Transport |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000000 |
Equity Shares |
Re.1/- each |
Rs.500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
244459983 |
Equity
Shares(Includes 120,760,000 Equity Shares of Re1 each by a bonus issue during
the year 2009-10) |
Re.1/- each |
Rs.244.460 Millions |
|
|
|
|
|
(Company issued 2,939,983
Equity Shares of Re.1 each, allotted to the shareholders of Nitya Laboratories
Limited to give effect to merger as consideration other than cash during the
year 2010-11)
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 |
244.460 |
241.520 |
120.760 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1375.340 |
1368.770 |
1338.300 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1619.800 |
1610.290 |
1459.060 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
919.330 |
701.340 |
395.100 |
|
|
2] Unsecured Loans |
175.190 |
51.010 |
11.350 |
|
|
TOTAL BORROWING |
1094.520 |
752.350 |
406.450 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
51.010 |
42.840 |
|
|
|
|
|
|
|
|
TOTAL |
2714.320 |
2472.990 |
1908.350 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1158.000 |
812.140 |
436.290 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.320 |
26.920 |
26.920 |
|
|
DEFERREX TAX ASSETS |
10.600 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
691.930
|
744.950 |
702.500 |
|
|
Sundry Debtors |
551.720
|
670.130 |
620.110 |
|
|
Cash & Bank Balances |
67.970
|
45.260 |
35.700 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
403.290
|
453.400 |
356.840 |
|
Total
Current Assets |
1714.910
|
1913.740 |
1715.150 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
109.030
|
259.610 |
222.970 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
95.620
|
85.540 |
110.960 |
|
Total
Current Liabilities |
204.650
|
345.150 |
333.930 |
|
|
Net Current Assets |
1510.260
|
1568.590 |
1381.220 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
35.140 |
65.340 |
63.920 |
|
|
|
|
|
|
|
|
TOTAL |
2714.320 |
2472.990 |
1908.350 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2694.140 |
2038.210 |
1597.090 |
|
|
|
Job work |
2.290 |
6.430 |
10.720 |
|
|
|
Other Income |
30.240 |
22.610 |
15.630 |
|
|
|
TOTAL (A) |
2726.670 |
2067.250 |
1623.440 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Stock Increase/ (Decrease) |
136.420 |
(45.600) |
(150.500) |
|
|
|
Raw Material Consumption |
1635.680 |
1364.090 |
1103.110 |
|
|
|
Manufacturing Expenses |
210.480 |
164.910 |
168.670 |
|
|
|
Payments and Benefits to Employees |
94.960 |
52.220 |
33.130 |
|
|
|
Administrative and Selling Expenses |
188.020 |
129.940 |
101.900 |
|
|
|
Preliminary Expenses written off |
16.880 |
16.680 |
16.000 |
|
|
|
TOTAL (B) |
2282.440 |
1682.240 |
1272.310 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
444.230 |
385.010 |
351.130 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
165.030 |
105.870 |
74.820 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
279.200 |
279.140 |
276.310 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
27.640 |
19.240 |
16.990 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
251.560 |
259.900 |
259.320 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
78.580 |
48.250 |
96.130 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H)
(I) |
172.980 |
211.650 |
163.190 |
|
|
|
|
|
|
|
|
|
|
PRIOR PERIOD |
41.070 |
32.170 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
317.070 |
378.860 |
270.910 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
34.590 |
42.340 |
32.640 |
|
|
|
Dividend |
0.000 |
24.150 |
19.320 |
|
|
|
Provision for Dividend Tax |
0.000 |
4.100 |
3.280 |
|
|
BALANCE CARRIED
TO THE B/S |
414.390 |
487.750 |
378.860 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
358.730 |
298.680 |
178.990 |
|
|
TOTAL EARNINGS |
358.730 |
298.680 |
178.990 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
485.420 |
381.930 |
427.450 |
|
|
TOTAL IMPORTS |
485.420 |
381.930 |
427.450 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.71 |
0.88 |
1.35 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2011 1st Quarter |
30.09.2011 2nd Quarter |
31.12.2011 3rd Quarter |
|
Type |
UnAudited |
UnAudited |
UnAudited |
|
Net Sales |
702.600 |
664.400 |
467.500 |
|
Total Expenditure |
573.700 |
565.000 |
381.100 |
|
PBIDT (Excl OI) |
128.900 |
99.400 |
86.400 |
|
Other Income |
3.900 |
7.200 |
0.500 |
|
Operating Profit |
132.800 |
106.600 |
86.900 |
|
Interest |
50.100 |
61.800 |
64.500 |
|
Exceptional Items |
(5.500) |
(4.200) |
(4.200) |
|
PBDT |
77.200 |
40.600 |
18.200 |
|
Depreciation |
14.600 |
13.600 |
15.500 |
|
Profit Before Tax |
62.600 |
27.000 |
2.700 |
|
Tax |
20.800 |
9.000 |
0.900 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
41.800 |
18.000 |
1.800 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
41.800 |
18.000 |
1.800 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
6.34
|
10.24 |
10.05 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.34
|
12.75 |
16.23 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.76
|
7.76 |
12.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.16 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.80
|
0.68 |
1.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
8.38
|
5.54 |
5.14 |
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) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
No |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
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 |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
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 |
No |
REVIEW OF OPERATIONS
The Board is pleased to report another set of
strong results for 2010-11. This was possible despite of the global
recessionary trends and challenging conditions in the pharmaceutical industry, both
domestic and international.
The Company achieved a turnover of Rs.2875.730
millions compared to Rs.2179.830 millions for the year 2010-11 representing an
increase of around 31.92%. Net profit after tax was Rs.172.980 millions during
the year 2010-11, when compared to Rs.211.650 millions during the previous
year, a decline of around 18.27%. The profits declined largely due to the
impact of merger of Nitya Laboratories Limited. Consequently, Earnings per
Share (Face value of Re.1 per share) for the year worked out to Re.0.71 per
share as against Rs.0.88 in the previous year.
During the year, the Company has complied with
the Scheme of Amalgamation (the Merger) of the erstwhile Nitya Laboratories
Limited (NLL) with the Company under Sections 391 to 394 of the Companies Act,
1956 approved by the Hon'ble High Court of Andhra Pradesh vide its Order dated
December 21, 2010. The Scheme became effective on January 17, 2011 on filing of
the certified copy of the Order of the High Court in the Office of Registrar of
Companies, Hyderabad, Andhra Pradesh and all the properties, assets, both
movable and immovable, liabilities including contingent liabilities and
reserves of erstwhile NLL have without further act or deed, been transferred to
and vested in the Company at their book values, as a going concern with effect
from the appointed date i.e. April 1, 2009.
MANAGEMENT DISCUSSION AND ANALYSIS
OVERVIEW OF INDIAN PHARMACEUTICAL INDUSTRY
The Indian pharmaceutical industry currently
tops the chart amongst
The Indian pharmaceutical sector is highly
fragmented with more than 20,000 registered units. It has expanded drastically
in the last two decades. The pharmaceutical and chemical industry in
CURRENT SCENARIO (FITCH RATINGS)
Stable outlook for 2011: The earnings and
profitability of Indian generics-based pharmaceutical companies will benefit
from continued demand for generics. However, liquidity will remain a concern
for the sector, mainly on account of high working capital requirements.
Additional revenue generators: Increasing
interest in generics among global innovator companies will prompt them to
either set up shop in
Long-term prospects for CRAMS: Given the
compelling reasons for global innovator companies to control costs, Indian
contract research and manufacturing services (CRAMS) companies will benefit
from the positive prospects for outsourcing.
Steady domestic market: Growth in domestic
sales will continue to be aided by rising expenditure on healthcare, changing
disease profiles on account of lifestyle-related diseases, and growing
penetration in rural markets.
Stable profitability margins: Fitch Ratings expects
the profitability of Indian pharmaceutical companies to continue to benefit
from better geographic and product mix as well as higher capacity utilisation.
The positive effect on margins could be limited by competition and subsequent
price erosion. The agency does not expect forex to have a majoring bearing on
profitability.
Stable credit profiles: Strong revenue
visibility, coupled with stable operating profitability margins and limited
capex, would result in stable credit profiles for Fitch-rated entities.
Liquidity profiles: Fitch expects working
capital levels for the sector to remain high, which could have a negative
impact on the liquidity profiles of smaller pharmaceutical companies. The size,
scale and track record of large and mid-sized pharmaceutical companies will
enable them to raise finance from financial markets and effectively manage
their liquidity.
What could change the outlook concerns: Fitch
expects regulatory risks emanating from quality issues to have a significant
impact on the earnings visibility of Indian pharmaceutical companies.
Furthermore, litigation risks relating to alleged patent infringements (Para IV
filings) or disputed "first to file" patent applications will have a
negative impact on profitability. Other concerns that could have a negative
impact on the sector include delay in attaining product approvals, intensifying
competition and price controls.
FUTURE OUTLOOK
The promoters have varied expertise ranging
from financial, project management; pharma consulting, process improvement etc
whose combined inputs have given the Company the holistic edge. The Company is
successful in keeping the Chinese competition at bay with its cost competitive
and quality foothold.
The Company continues to be a significant
player in the intermediaries market. There are good prospects for increasing
exports and Anu Labs continues to make special efforts to tap new markets.
The Company has acquired a new plant during the
last year and also acquired one more company through a scheme of arrangement.
Manufacturing at the Vizag facility has also commenced. All these initiatives
will enable the Company to increase its production and thereby make an impact
in the market.
The Company is further planning to augment its
production capacities and also enlarge its API portfolio. Through backward
integration, Anu Labs will reduce the cost of production and increase its
margins and earning potential.
FINANCIAL PERFORMANCE
During the year 2010-11, the Company achieved
a turnover of Rs.2875.730 millions compared to Rs.2179.830 millions for the
year 2009- 2010 constituting an increase of around 31.92%. Net Profit after tax
for the year was Rs.172.980 millions, when compared with a profit after tax of
Rs.211.650 millions during the year 2009-10.
BOARD OF DIRECTORS
Mr. K. Hari Babu
(born 1956) the Managing Director, is a Chartered Accountant and has 28 years
of experience in various fields of management out of which 22 years is in the
pharmaceutical industry. He has experience in the field of strategic planning,
corporate and project financing, human resource development, information
systems management, and marketing strategy. He promoted the Company and has
played a key role in its growth.
Mr. M.S.S.V.
Satyanarayana (born 1958) is a graduate from Nagarjuna University and is an
Agriculturist.
Dr. K. Rajeswara
Rao (born 1947) is a practicing Doctor having done his MBBS. He did his post
graduation in pediatrics and completed his Fellowship in allergy and immunology
in 1991 from the American Board of Medical Specialties, USA. He is certified by
the American board in pediatrics, allergy and immunology. He has been
practicing allergy, immunology and clinical research.
Mr. Chakravarthi
Sundarashyam (born 1945) was a career banker with over 36 years of valuable
experience in State Bank of India. He held several top managerial and key
positions, at important business locations, which included heading a Circle.
During his career, he worked at various branches, Zonal and Local Head Offices
and the Corporate Centre in Mumbai. He retired as a Chief General Manager of
the Bank in 2005. He is currently a Management and Strategic Consultant to
various corporates.
Mr. Ravindran
Parthasarathy (born 1955) is a management professional with 30 years of
experience in the field of organizational development, human capital
management, International business, marketing, IT and business consulting. He
was the Director/VP in reputed MNCs and blue-chip Indian companies like
Unilever and Technip; Taj Group, Blue Star, Dr Reddy's and was the CEO/Director
of Madras Medical Mission. Ravi has done his Masters in Business Administration
from School of Business, University at Buffalo, New York, USA.
CONTINGENT LIABILITIES NOT PROVIDED FOR (AS ON 31.03.2011):
a. Unexpired bank guarantees and Letters of Credit Rs.413.990 millions
b. Demands of statutory authorities disputed by the Company in appeals
with higher authorities in respect of
i. Disputed Income Tax A.Y. 2004-05 –
ii. Disputed Sales Tax demands A.Y. 2001-02 Rs.1.000 million
A.Y. 2003-04 Rs.0.680
million
A.Y. 2004-05 Rs.1.830
millions
A.Y. 2005-06 Rs.2.210
millions
c. Other legal claims
Sun Moon Chemicals Private Limited filed a suit against the Company for a
demand of Rs.4.680 millions.
FIXED ASSETS
·
Land
·
Buildings
·
Plant and Machinery
·
Electrical Equipment
·
Lab Equipment
·
Vehicle
·
Data Processing Equipment
·
Software Package
·
Office Equipment
·
Furniture and Fixtures
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.51.66 |
|
|
1 |
Rs.81.80 |
|
Euro |
1 |
Rs.67.18 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.