1. Summary Information
|
|
|
Country |
|
|
Company Name |
MEGA INTERNATIONAL PRIVATE LIMITED |
Principal Name 1 |
Mr. Ashok Kimar Sharma |
|
Status |
Satisfactory |
Principal Name 2 |
Queenie Sharma |
|
|
|
Registration # |
05-033062 |
|
Street Address |
Begampur Khatola Industrial Area, 39, Milestone,
NH-8, Gurgaon, Haryana-122001, |
||
|
Established Date |
22.07.1993 |
SIC Code |
-- |
|
Telephone# |
91-124-4113371 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-124-4113370 |
Business Style 2 |
- |
|
Homepage |
Product Name 1 |
Pharmaceutical
Formulations |
|
|
# of employees |
Not Available |
Product Name 2 |
|
|
Paid up capital |
Rs.86,557,200/- |
Product Name 3 |
|
|
Shareholders |
Bodies
corporate 74% Directors
or relatives of directors
74% Others 1% |
Banking |
Oriental Bank of Commerce |
|
Public Limited Corp. |
No |
Business Period |
18years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba(49) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
|
- |
- |
- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
277,877,000 |
Current Liabilities |
93,729,000 |
|
Inventories |
19,318,000 |
Long-term Liabilities |
7,250,000 |
|
Fixed Assets |
40,622,000 |
Other Liabilities |
32,443,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
133,422,000 |
|
Invest& other Assets |
10,000 |
Retained Earnings |
117,848,000 |
|
|
|
Net Worth |
204,405,000 |
|
Total Assets |
337,827,000 |
Total Liab. & Equity |
337,827,000 |
|
Total Assets (Previous Year) |
322,386,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
906,022,000 |
Net Profit |
23,337,000 |
|
Sales(Previous yr) |
1,046,307,000 |
Net Profit(Prev.yr) |
23,485,000 |
|
Report Date : |
23.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
MEGA INTERNATIONAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Begampur Khatola Industrial Area, 39, Milestone, Nh-8, Gurgaon
-122001, Haryana |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
22.07.1993 |
|
|
|
|
Com. Reg. No.: |
05-033062 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.86.557
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51312HR1993PTC033062 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RTKM01627D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer OF Pharmaceutical Formulations |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 810000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
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Payment Behaviour : |
Usually correct |
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|
|
Litigation : |
clear |
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|
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 : |
Begampur Khatola Industrial Area, 39, Milestone, Nh-8, Gurgaon
-122001, |
|
Tel. No.: |
91-124-4113371, 2371990, 2372780, 4113374 |
|
Fax No.: |
91-124-4113370, 2372816, |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 28.09.2010
|
Name : |
Mr. Ashok Kumar Sharma |
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Designation : |
Director |
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Address : |
K-27B, Havz khas enclave, |
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Date of Birth/Age : |
01.03.1955 |
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Date of Appointment : |
22.07.1993 |
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DIN NO.: |
00369714 |
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Other Directorship :
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Name : |
Queenie Sharma |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
K-27B, Havz khas enclave, |
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Date of Birth/Age : |
11.09.1959 |
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|
Date of Appointment : |
22.07.1993 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN: |
00369739 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Other Directorship :
|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Ashok Sharma |
|
1560500 |
|
Queenie Sharma |
|
479000 |
|
Belu Sayal |
|
15000 |
|
H.S.Bawa |
|
30000 |
|
Meena kapoor |
|
10000 |
|
Unitech limited |
|
50000 |
|
Vollent Investment & Finance Limited, |
|
365000 |
|
Mega Enterprises (P) Limited, |
|
432900 |
|
May Fair Investment Limited, |
|
360000 |
|
Kiran Devendra |
|
10300 |
|
Ashok Sharma |
|
52000 |
|
Gomti Foods & Spices (P) Limited, |
|
4465700 |
|
Gauri Sharma |
|
21000 |
|
Century 21st Diagnostic and Leasing Company Limited, |
|
534320 |
|
Premier Fashions Limited, |
|
190000 |
|
Simplex Holding Private Limited, |
|
50000 |
|
G. Sharma |
|
20000 |
|
Sharat Sayal |
|
10000 |
|
Total |
|
8655720 |
As on 28.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
74.00 |
|
Directors
or relatives of directors |
|
25.00 |
|
Others |
|
1.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
Pharmacetical Formulations |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Arjun Raj Mehta Chartered Accountant |
|
Address : |
401, White House, 382, Sant Nagar, East of Kailash, New Delhi-110048, |
|
PAN No.: |
AAIPM1393A |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10,000,000 |
Equity share |
Rs.10/- each |
Rs.100.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
8,655,720 |
Equity share |
Rs.10/- each |
Rs.86.557
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
86.557 |
86.557 |
86.557 |
|
|
2] Share application money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
117.848 |
94.511 |
71.029 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
204.405 |
181.068 |
157.586 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
21.832 |
13.270 |
|
|
2] Unsecured Loans |
7.250 |
7.250 |
4.418 |
|
|
TOTAL BORROWING |
7.250 |
29.082 |
17.688 |
|
|
DEFERRED TAX LIABILITIES |
6.378 |
7.150 |
7.235 |
|
|
|
|
|
|
|
|
TOTAL |
218.033 |
217.300 |
182.509 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
40.622 |
41.048 |
43.845 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.010 |
0.010 |
0.010 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
19.318
|
15.275 |
15.319 |
|
|
Sundry Debtors |
91.884
|
113.110 |
274.552 |
|
|
Cash & Bank Balances |
118.287
|
67.758 |
72.848 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
67.706
|
85.185 |
30.391 |
|
Total
Current Assets |
297.195
|
281.328 |
393.110 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.000
|
0.000 |
0.000 |
|
|
Other Current Liabilities |
93.729
|
77.021 |
228.521 |
|
|
Provisions |
26.065
|
28.065 |
25.935 |
|
Total
Current Liabilities |
119.794
|
105.086 |
254.456 |
|
|
Net Current Assets |
177.401
|
176.242 |
138.654 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
218.033 |
217.300 |
182.509 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
906.022 |
1046.307 |
1694.915 |
|
|
|
Other Income |
5.191 |
4.541 |
3.428 |
|
|
|
TOTAL (A) |
911.213 |
1050.848 |
1698.343 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Cost |
835.167 |
976.397 |
1609.762 |
|
|
|
Manufacturing Costs |
5.997 |
5.372 |
7.609 |
|
|
|
Employment Cost |
7.422 |
8.267 |
8.267 |
|
|
|
Administrative Selling and General
Expenses |
5.587 |
7.827 |
10.422 |
|
|
|
Increase/Decrease in stock |
4.717 |
(2.003) |
(3.620) |
|
|
|
TOTAL (B) |
858.890 |
995.860 |
1632.440 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
52.323 |
54.988 |
65.903 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
14.242 |
16.011 |
20.856 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
38.081 |
38.977 |
45.047 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
3.014 |
3.075 |
3.022 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
35.067 |
35.902 |
42.025 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
11.730 |
12.417 |
14.483 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER
TAX (G-H) (I) |
23.337 |
23.485 |
27.542 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
94.511 |
71.027 |
43.485 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
117.848 |
94.512 |
71.027 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.70 |
- |
- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.57
|
2.23 |
16.10 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.87
|
3.43 |
2.57 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.79
|
12.76 |
10.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.19 |
0.266 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.58
|
0.58 |
1.61 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.48
|
2.67 |
1.54 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS:
For the past three years pharma industry has been under tremendous
pressure due to various reasons. The most important reason for the all
formulation players is the announcement of Excise and Income Tax Free Zones in
Himachal,
It is unfortunate on the part of the Government to announce certain
incentives, which virtually destabilize the whole geographical location of
pharma industry and then suddenly revert or undo the things in a manner which
really can hit below the belt and render all these units unviable landing.
In view of various constraits the company’s turnover has declined from
Rs.1046.306 million to RS 906.023 million during the year which is a decrease
of over 13.41% as compared to the preceding year.
In spite of decrease in sales the company has registered margin fail of Rs.0.147
millions in net profit after tax of Rs23.337 millions as compared to previous
year profit of Rs 23.484 millions.
Current Year
During the year company mainly concentrated on contract manufacturing
business and added some reputed clients to its tally of customers.
As the company has world class manufacturing testing facilities at its
unit, the management has full confidence that the business of the company
continues to offer huge potential. The management is hopeful to achieve further
increase in the profitability during the ensuring years.
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90046855 |
|
Corporate
identity number of the company |
U51312HR1993PTC033062 |
|
Name of the
company |
MEGA
INTERNATIONAL PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Begampur Khatola
Industrial Area, 39, Milestone, NH-8, Gurgaon, |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Oriental Bank Of
Commerce Limited, Industrial Finance Branch, H-15, Connaught circus ,
Delhi-110001, E-mail: bm0633@abc.co.in |
|
Date of
instrument Creating the charge |
10.05.2008 |
|
Amount secured by
the charge |
Rs. 235.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Above base rate 2.50%
present effective rate is 12.50% with monthly rest.. Terms of
Repayment: On Demand Margin: 25% for LC/PC/CC and 15% for guarantee
(performance & financial) Nil FDBP/UDBP/CLEAN D.D Extent and
Operation of the charge: Equitable
mortgage of land measuring 5 Kanal 16
Marla in Khata no-104, rect.no-15,
Killa no.16 min east situated in village Begampur Khatola, Gurgaon, Haryana
together with all building and structure thereon & all plant & machinery
to the earth or permanently fastened to anything attached to the earth, both
present and futurer Others: As per supplement agreement doc-13 for
credit facility dated 10.05.2008 Enclosed herewith and bank sanction letter
dated 29/4/2008 |
|
Short particulars
of the property charged |
Equitable mortgage
of land measuring 5 Kanal 16 Marla in Khata no-104, rect no-15, Killa no-16
min east situated in village Begampur Khatola, Gurgaon, Haryana together with
all building and structure thereon & all plant & machinery attached
to the earth or permanently fastened to anything attached to the earth, both
present and future |
|
Date of latest
modification prior to the present modification |
28.09.2006 |
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.49.21 |
|
|
1 |
Rs.77.75 |
|
Euro |
1 |
Rs.64.48 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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 |
|||
|
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
||
|
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 |
|
||
|
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 |
|
||
|
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
||
|
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
||
|
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 |
|
||
|
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
||
|
NB |
New Business |
- |
|
||
S
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.