|
Report Date : |
18.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
AGILA SPECIALTIES PRIVATE LIMITED (w.e.f 02.07.2010) |
|
|
|
|
Formerly Known
As : |
STRIDES SPECIALTIES PRIVATE LIMITED (we.f 20.04.2009) QUANTUM LIFE SCIENCES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
“Strides House”, Bilekahalli, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2010 |
|
|
|
|
Date of
Incorporation : |
03.03.2004 |
|
|
|
|
Com. Reg. No.: |
08-033503 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.171.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U02429KA2004PTC033503 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufactures and Markets Pharmaceutical Products Including Penicllin,
Oncology Drugs and Sterile Injectables. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2600000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Strides Arcolab Limited. It is an established
company having moderate track. Profitability of the company appears to be
under pressure. There appears some accumulated losses recorded by the
company. However, 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.
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 : |
“Strides House”, Bilekahalli, |
|
Tel. No.: |
91-80-66580734 |
|
Fax No.: |
91-80-66580800 |
|
E-Mail : |
|
|
|
|
|
Factory : |
|
DIRECTORS
As On 27.05.2011
|
Name : |
Mr. Arun Kumar Pillai |
|
Designation : |
Director |
|
Address : |
E 101, Adarsh Residency, Jayanagar 8th Block, |
|
Date of Birth/Age : |
25.03.1961 |
|
Date of Appointment : |
03.03.2004 |
|
DIN No.: |
00084845 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
L24230MH1990PLC057062 |
STRIDES
ARCOLAB LIMITED |
Managing
director |
24-05-04 |
28-06-90 |
- |
Active |
NO |
|
2 |
U24231KA1994PTC047003 |
ARCOLAB
(INDIA) PRIVATE LIMITED |
Director |
28-03-94 |
28-03-94 |
- |
Amalgamated |
NO |
|
3 |
U73100KA1999PTC026027 |
VEDIC
ELEMENTS PRIVATE LIMITED |
Director |
03-12-99 |
03-12-99 |
02-10-09 |
Amalgamated |
NO |
|
4 |
U24110MH2002PLC136868 |
SEQUENT
SCIENTIFIC LIMITED |
Director |
16-08-02 |
16-08-02 |
- |
Amalgamated |
NO |
|
5 |
U02429KA2004PTC033503 |
AGILA
SPECIALTIES PRIVATE LIMITED |
Director |
03-03-04 |
03-03-04 |
- |
Active |
NO |
|
6 |
U72200KA1996PTC020663 |
NOUS
INFOSYSTEMS PRIVATELIMITED |
Director |
30-09-05 |
30-09-05 |
- |
Active |
NO |
|
7 |
U74140DL2006PTC146649 |
PATSYS
CONSULTING PRIVATE LIMITED |
Director |
21-02-06 |
21-02-06 |
- |
Active |
NO |
|
8 |
U33111MH2002PTC212925 |
AGNUS
HOLDINGS PRIVATE LIMITED |
Director |
27-04-06 |
27-04-06 |
- |
Active |
NO |
|
9 |
U24117MH2007PLC210962 |
FRAXIS
LIFE SCIENCES LIMITED |
Director |
12-01-07 |
12-01-07 |
- |
Amalgamated |
NO |
|
10 |
U24231TN1996PLC035068 |
GRANDIX
PHARMACEUTICALS LIMITED |
Director |
28-09-07 |
20-01-07 |
- |
Amalgamated |
NO |
|
11 |
U72200AP2004PTC042572 |
GOOSE
TECHNOLOGIES PRIVATE LIMITED |
Director |
29-09-07 |
04-08-07 |
07-11-11 |
Active |
NO |
|
12 |
U24232KA2007PLC043599 |
ONCO
THERAPIES LIMITED |
Director |
14-08-07 |
14-08-07 |
10-03-08 |
Active |
NO |
|
13 |
U24232KA2007PLC042483 |
SEQUENT
RESEARCH LIMITED |
Director |
22-02-08 |
22-02-08 |
- |
Active |
NO |
|
14 |
U15549KA2006PTC039556 |
MANDALA
VALLEY VINEYARDS PRIVATE LIMITED |
Director |
18-09-08 |
18-09-08 |
- |
Active |
NO |
|
15 |
U67190KA2010PTC054613 |
TRIUMPH
FINCAP VENTURES PRIVATE LIMITED |
Director |
29-07-10 |
29-07-10 |
- |
Active |
NO |
|
16 |
U70102MH2011PTC224475 |
SANTO
PROPERTIES PRIVATE LIMITED |
Director |
29-11-11 |
29-11-11 |
- |
Active |
NO |
|
Name : |
Mr. Venkatraman Subramanian Iyer |
|
Designation : |
Director |
|
Address : |
L-204, Mantri Woodlands, |
|
Date of Birth/Age : |
18.03.1957 |
|
Date of Appointment : |
31.03.2006 |
|
DIN No.: |
00408092 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U24231KA2003PTC039016 |
MEDGENE
PHARMACEUTICALS PRIVATE LIMITED |
Director |
14-06-06 |
03-05-05 |
- |
Amalgamated |
NO |
|
2 |
U02429KA2004PTC033503 |
AGILA
SPECIALTIES PRIVATE LIMITED |
Director |
14-06-06 |
31-03-06 |
- |
Active |
NO |
|
3 |
U24231TZ1986PLC008788 |
GLOBAL
REMEDIES LIMITED |
Director |
19-06-07 |
26-03-07 |
27-11-08 |
Amalgamated |
NO |
|
4 |
U24230KA2007PTC042337 |
HIGHER
PHARMATECH PRIVATE LIMITED |
Director |
02-04-07 |
02-04-07 |
- |
Active |
NO |
|
5 |
U24232KA2007PLC043599 |
ONCO
THERAPIES LIMITED |
Director |
30-09-08 |
10-03-08 |
- |
Active |
NO |
|
6 |
U24231TN1996PLC035068 |
GRANDIX
PHARMACEUTICALS LIMITED |
Additional
director |
16-03-09 |
16-03-09 |
- |
Amalgamated |
NO |
|
7 |
L24230MH1990PLC057062 |
STRIDES
ARCOLAB LIMITED |
Whole-time
director |
31-05-10 |
19-01-10 |
- |
Active |
NO |
|
Name : |
Mr. Srinivasan Rangan Thirukandalam |
|
Designation : |
Director |
|
Address : |
# 201,”Greenis the Colour”, I Block, 3rd Main, 5th
Cross, Bilekahalli Dollar Layout, BTM II Stage, Bangalore – 560076,
Karnataka, India |
|
Date of Birth/Age : |
14.06.1965 |
|
Date of Appointment : |
16.03.2009 |
|
DIN No.: |
02578755 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U24231TZ1986PLC008788 |
GLOBAL
REMEDIES LIMITED |
Director |
05-05-09 |
16-03-09 |
- |
Amalgamated |
NO |
|
2 |
U24296KA2008PTC045588 |
QUANTUM
REMEDIES PRIVATE LIMITED |
Director |
05-05-09 |
16-03-09 |
- |
Amalgamated |
NO |
|
3 |
U24231KA2003PTC039016 |
MEDGENE
PHARMACEUTICALS PRIVATE LIMITED |
Director |
05-05-09 |
16-03-09 |
- |
Amalgamated |
NO |
|
4 |
U02429KA2004PTC033503 |
AGILA
SPECIALTIES PRIVATE LIMITED |
Director |
05-05-09 |
16-03-09 |
- |
Active |
NO |
|
5 |
U24232TN2001PLC047875 |
GRANDIX
LABORATORIES LIMITED |
Additional
director |
16-03-09 |
16-03-09 |
- |
Amalgamated |
NO |
|
6 |
U24231TN1996PLC035068 |
GRANDIX
PHARMACEUTICALS LIMITED |
Additional
director |
16-03-09 |
16-03-09 |
- |
Amalgamated |
NO |
|
7 |
U73100KA2009PTC049535 |
STRIDES
TECHNOLOGY AND RESEARCH PRIVATE LIMITED |
Director |
06-04-09 |
06-04-09 |
- |
Under
Process of Striking off |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Pratap Rudra Bhuvanagiri |
|
Designation : |
Company Secretary |
|
Address : |
413, 5th B Main Road, HRBR Layout, 2nd Block,
Kalyan Nagar, |
|
Date of Birth/Age : |
27.06.1982 |
|
Date of Appointment : |
11.05.2009 |
|
Pan No.: |
AWDPP9893R |
|
|
|
|
Name : |
Mr. Venkatesh |
|
Designation : |
Accounts Department |
|
|
|
|
Name : |
Mr. Mohan Babu |
|
Designation : |
Manager |
|
Address : |
41/B, Hosahally Handenahally Post, Anekal Taluk, |
|
Date of Birth/Age : |
22.07.1971 |
|
Date of Appointment : |
26.07.2006 |
|
Pan No.: |
ANUPM8158Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 27.05.2011
|
Names of Shareholders |
|
No. of Shares |
|
Strides Arcolab Limited – |
|
15099990 |
|
N T Venkatesha |
|
5 |
|
Kannan N |
|
5 |
|
Total |
|
15100000 |
|
Names of Shareholders |
|
No. of Shares Preference
Shares |
|
Strides Arcolab Limited – |
|
200000 |
As On 27.05.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
Manufactures and Markets Pharmaceutical Products Including Penicllin,
Oncology Drugs and Sterile Injectables. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
PRODUCTION STATUS (AS ON 31.12.2010)
|
Particulars |
|
|
Unit |
Installed
Capacity |
|
Betalactam Plant
|
|
|
|
|
|
Capsules and tables |
|
|
Numbers in
Millions |
350.000 |
|
Dry powder vials |
|
|
Numbers in
Millions |
20.000 |
|
Sterile products
|
|
|
|
|
|
Ampoules |
|
|
Numbers in
Millions |
48.000 |
|
Liquid vials |
|
|
Numbers in
Millions |
48.000 |
|
Pre-filled syringes |
|
|
Numbers in
Millions |
7.500 |
|
Dry powder vials |
|
|
Numbers in
Millions |
16.000 |
|
Sterile
formulations facility |
|
|
|
|
|
Liquid vials |
|
|
Numbers in
Millions |
86.350 |
|
Dry powder vials |
|
|
Numbers in
Millions |
54.700 |
Installed Capacities
are as certified by the management and relied upon by the auditors. The Installed
Capacities serve multiple purposed and will vary according to product mix.
** Not applicable as
the products have been delicensed.
Actual Production
|
Particulars |
Units |
Actual
Production |
|
Capsules |
Qty (In ‘000’s) |
23812132 |
|
Injections |
Qty (In ‘000’s) |
98755444 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
|
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|
|||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
Notes: 1) Short term loan from banks are working capital loans, which are
secured by a pari passu first charge on the company’s movable property. 2) Long Term Loan due within one year Rs.Nil. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Deloitte Centre, Anchorage II, 100/2, Richmond Road, Bangalore –
560025, Karnataka, India |
|
Pan No.: |
AACFD3771D |
|
|
|
|
Holding Company : |
CIN: L24230MH1990PLC057062 |
|
|
|
|
Wholly owned
subsidiaries: |
Direct Holding
Indirect Holding
|
|
|
|
|
Other Subsidiaries: |
|
|
|
|
|
Fellow Subsidiaries: |
|
|
|
|
|
Related Parties : |
·
Agnus Global Holdings Private
Limited, India ·
Arcolab (India) Private Limited
(merged with Agnus Holdings Private Limited w.e.f. March 24, 2010) ·
Atma Projects, India ·
Higher Pharmatech Private
Limited, India ·
Caryl Pharma Private Limited
(merged with Agnus Holdings Private Limited w.e.f. March 24, 2010) ·
Chayadeep Properties Private
Limited, India ·
Agnus Global Holdings Pte
Limited, Singapore ·
Agnus Holdings Private Limited,
India ·
Fraxis Life Sciences Limited,
India ·
Atma Enterprises LLP, India ·
Chayadeep Ventures LLP, India ·
Qualichem Capital LLP, India ·
Agnus Capital LLP, India ·
Triumph Ventures LLP, India |
CAPITAL STRUCTURE
As On 31.12.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs. 10/- each |
Rs.200.000 Millions |
|
200000 |
0.1% Redeemable Preference Shares |
Rs. 100/- each |
Rs. 20.000 Millions |
|
|
Total |
|
Rs.220.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15100000 |
Equity Shares |
Rs. 10/- each |
Rs.151.000
Millions |
|
200000 |
0.1% Redeemable Preference Shares |
Rs. 100/- each |
Rs. 20.000 Millions |
|
|
Total |
|
Rs.171.000 Millions |
Note:
Entire share capital is held by – Strides
Arcolab Limited, the Holding Company.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
171.000 |
146.000 |
146.000 |
|
|
2] Monies Pending Allotment |
0.000 |
1000.000 |
0.000 |
|
|
3] Reserves & Surplus |
1155.000 |
180.000 |
180.000 |
|
|
4] (Accumulated Losses) |
(677.955) |
(115.824) |
(94.790) |
|
|
NETWORTH |
648.045 |
1210.176 |
231.210 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
700.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
2215.446 |
2287.414 |
0.000 |
|
|
TOTAL BORROWING |
2915.446 |
2287.414 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
22.237 |
22.240 |
|
|
|
|
|
|
|
|
TOTAL |
3563.491 |
3519.827 |
253.450 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2377.384 |
2343.336 |
309.820 |
|
|
Capital work-in-progress |
591.706 |
458.451 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
161.626 |
12.750 |
7.600 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
424.221
|
398.457
|
6.130 |
|
|
Sundry Debtors |
616.438
|
610.246
|
0.020 |
|
|
Cash & Bank Balances |
75.802
|
6.739
|
0.000 |
|
|
Other Current Assets |
338.217
|
421.063
|
3.610 |
|
|
Loans & Advances |
443.936
|
508.947
|
128.910 |
|
Total
Current Assets |
1898.614
|
1945.452
|
138.680 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1273.361 |
883.310 |
198.580 |
|
|
Other Current Liabilities |
234.896
|
307.941
|
0.520 |
|
|
Provisions |
56.499
|
48.911
|
3.550 |
|
Total
Current Liabilities |
1564.756
|
1240.162
|
202.650 |
|
|
Net Current Assets |
333.858
|
705.290
|
(63.970) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
98.917 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3563.491 |
3519.827 |
253.450 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2927.504 |
104.177 |
96.940 |
|
|
|
Other Income |
19.501 |
1.859 |
0.000 |
|
|
|
TOTAL (A) |
2947.005 |
106.036 |
96.940 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Materials Consumed |
1488.832 |
22.962 |
27.980 |
|
|
|
Increase/Decrease in stock |
17.543 |
0.000 |
0.000 |
|
|
|
Personnel Cost |
515.329 |
17.373 |
16.000 |
|
|
|
Operating and other expenses |
862.250 |
49.137 |
44.950 |
|
|
|
TOTAL (B) |
2883.954 |
89.472 |
88.930 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
63.051 |
16.564 |
8.010 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
394.569 |
2.556 |
1.840 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(331.518) |
14.008 |
6.170 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
195.758 |
35.032 |
33.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(527.276) |
(21.024) |
(27.530) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
22.435 |
0.010 |
0.180 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
(504.841) |
(21.034) |
(27.710) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(115.824) |
(94.790) |
(67.080) |
|
|
|
|
|
|
|
|
|
|
INCLUDED ON
AMALGAMATION |
(57.291) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(677.956) |
(115.824) |
(94.790) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of exports of goods / contract |
2598.590 |
51.613 |
9.970 |
|
|
|
Development and licensing Income |
176.253 |
0.000 |
0.000 |
|
|
|
Other Income |
19.474 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
2794.317 |
51.613 |
9.970 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
836.040 |
10.080 |
13.940 |
|
|
|
Capital Goods |
127.134 |
0.000 |
6.210 |
|
|
|
Other Goods |
36.876 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
1000.050 |
10.080 |
20.150 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(33.43) |
(1.67) |
(2.20) |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
PAT / Total Income |
(%) |
(17.13)
|
(19.84) |
(28.58) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(18.01)
|
(20.18) |
(28.40) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(12.33)
|
(0.49) |
(6.14) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.81)
|
(0.02) |
(0.12) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
6.91
|
2.91 |
0.88 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21
|
1.57 |
0.68 |
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 |
Yes |
|
8) No. of employees |
No |
|
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 |
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 (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 |
Yes |
Operational
Highlights:
Total revenue of the company stood at Rs. 105.580 Million for the year ended 31.12.2009 as against Rs. 96.940 Million for the previous
year ended 31.12.2008. The company incurred a net loss of Rs. 21.030 Million
during the year.
Contingent
Liabilities:
Estimated
amount of contracts remaining to be executed on capital account and not
provided for Rs. 114.118 Millions (Previous Year - Rs. 213.813 Millions)
The Company has given the corporate
guarantees to financial institution towards credit facilities/ advances, on
behalf of the Holding Company up to Rs. 250.000 Millions (Previous year Nil).
Subsequent to the year end, the mentioned corporate guarantee has been revoked
on repayment of such credit facilities / advances by the Holding company.
Bank Guarantee for
Rs. 1.000 Millions and Bond amounting to Rs. 200.000 Millions favouring the
Commissioner of Customs and Central Excise for removal of goods and capital
items without payment of duty.
Bankers Charges
Report as per Registry:
|
Corporate identity
number of the company |
U02429KA2004PTC033503 |
|
Name of the
company |
AGILA SPECIALTIES
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
"Strides
House", Bilekahalli, Bannerghatta Road, Bangalore – 560076, Karnataka,
India E-mail : Pratap.Rudra@stridesarco.com |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
Axis Bank Limited, 2nd Floor-E, Axis House, Bombay Dyeing Mill
Compound, Panduranga Budhkar Marg, Worli, Mumbai - 400025, Maharashtra, India E-mail : kulkarni.makarand@axisbank.com
|
|
Nature of
instrument creating charge |
By way of Deed of
Hypothecation executed by subject in favor of Axis Bank Limited, Mumbai,
acting as Onshore Security Trustee for Axis Bank Limited, Hong Kong ( the
Lender) to the tune of USD 50 Million
(Approx Rs. 2275.250 Millions) to
facilitate Strides Arcolab Limited |
|
Date of
instrument Creating the charge |
24.10.2011 |
|
Amount secured by
the charge |
Rs.2275.250
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest The percentage
rate per annum equal to the aggregate of the applicable margin and LIBOR. Terms of
Repayment – The borrower has
to repay the loan in 20 quarterly installments as fully set out in the
Facility Agreement. Margin 4.25% per annum,
as adjusted in accordance with Clause 8.4, Clause 8.5 or Clause 8.6 of the
Facility Agreement. Extent and
Operation of the charge Second ranking
security interest by way of hypothecation on all present and future movable
fixed assets of subject in favor security trustee. Others Subject is
providing security of its assets to Axis Bank Limited for the borrowing of
Strides Arcolab Limited (the Parent Company). |
|
Particulars of the
property charged |
All the movable
fixed assets of Agila including its movable plant and machinery, machinery
spares, tools and accessories and other movables, both present and future
etc. |
Fixed Assets:
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.51.63 |
|
|
1 |
Rs.81.94 |
|
Euro |
1 |
Rs.67.65 |
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 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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.