MIRA
INFORM REPORT
|
Report Date : |
27.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
NNE PHARMAPLAN INDIA LIMITED (w.e.f 27.06.2008) |
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Formerly Known
As : |
PHARMAPLAN INDIA LIMITED |
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Registered
Office : |
A2/118, Safdarjung Enclave, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
30.12.1997 |
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Com. Reg. No.: |
55-091387 |
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Capital
Investment / Paid-up Capital : |
Rs.5.000 Millions |
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CIN No.: [Company Identification
No.] |
U51507DL1997PLC091387 |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Consulting and Engineering Company in the Complex Field of Pharma and
Biotech |
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 246000 |
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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. There
appears some losses being incurred by the company in the current year i.e
2010-11. However, networth appears to be satisfactory. Trade relations are
reported as fair. Business is active. Payments are reported to 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 |
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Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Not Divulged |
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Designation : |
Accountant |
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Contact No.: |
91-120-4775100 |
|
Date : |
25.01.2012 |
LOCATIONS
|
Registered Office/ Emerging Market
: |
A2/118, Safdarjung Enclave, |
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Tel. No.: |
91-11-26197251/52 |
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Fax No.: |
91-11-26197253/26169248 |
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E-Mail : |
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Website : |
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Head Office : |
Nybrovej 80, 2820 |
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Tel. No.: |
+45 4444 7777 |
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Fax No.: |
+45 4444 3777 |
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Regional Office : |
Located at : Emerging Market
Nordic
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Branch office : |
B-15, Sector 2, Noida – 201301, |
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Tel. No.: |
91-120-4775100 |
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Fax No.: |
91-120-4775200 |
Note: NNE Pharmaplan employs close to 1,700 people at more than 25
locations around the world.
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Anil Kumar Singal |
|
Designation : |
Managing Director |
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Address : |
E-85, Greater Kailash Part – II, |
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Date of Birth/Age : |
12.05.1952 |
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Date of Appointment : |
29.09.2001 |
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DIN No.: |
00996198 |
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Name : |
Mr. Georg Johann Jakobi |
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Designation : |
Director |
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Address : |
Hardtstr, 19, 61250, Usingen (Kransberg) |
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Date of Birth/Age : |
11.06.1950 |
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Date of Appointment : |
01.01.2000 |
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DIN No.: |
00996318 |
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Name : |
Mr. Hartmut Kari Schaz |
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Designation : |
Director |
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Address : |
AM Konigshof 4, 60388, |
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Date of Birth/Age : |
11.01.1967 |
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Date of Appointment : |
01.07.2002 |
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DIN No.: |
00996129 |
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Name : |
Mr. Narendra Prasad |
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Designation : |
Director |
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Address : |
64, Ground Floor, Block III, |
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Date of Birth/Age : |
06.09.1961 |
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Date of Appointment : |
15.03.2004 |
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DIN No.: |
00994462 |
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Name : |
Ole Cato Spanghanssen |
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Designation : |
Director |
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Address : |
Kejserensvej 3 1 3480, |
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Date of Birth/Age : |
10.05.1958 |
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Date of Appointment : |
01.02.2011 |
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DIN No.: |
03437655 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Anil Singal |
|
20 |
|
Sunita Singal |
|
10 |
|
Rajendra Kumar Taneja |
|
10 |
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Rajiv Mohan Goswani |
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10 |
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Madhu Goswami |
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10 |
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NNE Pharmaplan |
|
49930 |
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Anubhav Singal |
|
10 |
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TOTAL |
|
50000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Consulting and Engineering Company in the Complex Field of Pharma and
Biotech |
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Terms : |
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Selling : |
Cash and Credit (30 Days) |
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Purchasing : |
Cash and Credit (30 Days) |
GENERAL INFORMATION
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No. of Employees : |
150 (Approximately) |
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Bankers : |
Slandered Charted Bank, |
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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 : |
7th and 8th Floor, Tower – B, |
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PAN.: |
AAEFP3641G |
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Holding Company : |
NNE Pharmaplan |
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Ultimate Holding Company : |
NNE Pharmaplan A/S, |
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Other Related Parties : |
NNE Pharmaplan Sdn, NNE Pharmaplan Engineering AG NNE Pharmaplan (Titanjin) Company Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs.100/- each |
Rs.20.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.100/-
each |
Rs.5.000
Millions |
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|
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
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|
SHAREHOLDERS FUNDS |
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1] Share Capital |
|
5.000 |
5.000 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
46.592 |
84.984 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
51.592 |
89.984 |
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LOAN FUNDS |
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1] Secured Loans |
|
0.000 |
0.000 |
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2] Unsecured Loans |
|
10.014 |
0.000 |
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TOTAL BORROWING |
|
10.014 |
0.000 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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TOTAL |
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61.606 |
89.984 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
20.525 |
24.085 |
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Capital work-in-progress |
|
0.076 |
0.000 |
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INVESTMENT |
|
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
8.282 |
3.182 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
|
0.000 |
0.000 |
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Sundry Debtors |
|
55.227 |
69.917 |
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Cash & Bank Balances |
|
7.115 |
18.836 |
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Other Current Assets |
|
0.201 |
0.793 |
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Loans & Advances |
|
39.401 |
28.422 |
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Total
Current Assets |
|
101.944 |
117.968 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
|
43.212 |
39.658 |
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Other Current Liabilities |
|
19.188 |
10.394 |
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Provisions |
|
6.821 |
5.199 |
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Total
Current Liabilities |
|
69.221 |
55.251 |
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Net Current Assets |
|
32.723 |
62.717 |
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
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TOTAL |
|
61.606 |
89.984 |
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PROFIT & LOSS
ACCOUNT
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|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
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SALES |
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Income |
|
124.757 |
183.496 |
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Other Income |
|
2.932 |
2.387 |
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TOTAL |
|
127.689 |
185.883 |
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Less |
EXPENSES |
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Personnel Cost |
|
71.302 |
62.432 |
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Administrative, Operation and Other Cost |
|
93.934 |
93.740 |
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TOTAL
|
|
165.236 |
156.172 |
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PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
(37.547) |
29.711 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
|
5.912 |
7.181 |
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PROFIT/(LOSS)
BEFORE TAX |
|
(43.459) |
22.530 |
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Less |
TAX |
|
(5.067) |
7.788 |
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PROFIT/(LOSS)
AFTER TAX |
|
(38.391) |
14.742 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
82.683 |
67.941 |
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BALANCE CARRIED
TO THE B/S |
|
44.292 |
82.683 |
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EARNINGS IN
FOREIGN CURRENCY |
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|
Business Income and Reimbursement of Expenses |
|
19.699 |
19.052 |
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TOTAL EARNINGS |
|
19.699 |
38.751 |
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Earnings Per
Share (Rs.) |
|
(76.784) |
294.84 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
|
(30.07) |
7.93 |
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Net Profit Margin (PBT/Sales) |
(%) |
|
(34.83) |
12.28 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
(35.49) |
15.86 |
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Return on Investment (ROI) (PBT/Networth) |
|
|
(0.84) |
0.25 |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
|
1.54 |
0.61 |
|
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Current Ratio (Current Asset/Current Liability) |
|
|
1.47 |
2.14 |
LOCAL AGENCY FURTHER INFORMATION
|
Check list by Info Agents |
Available in Reports ( Yes/No) |
|
Yes |
|
Yes |
|
Yes |
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Yes |
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Yes |
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Yes |
|
-- |
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Yes |
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Yes |
|
Yes |
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Yes |
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No |
|
--- |
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No |
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Yes |
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Yes |
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No |
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No |
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Yes |
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No |
|
-- |
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-- |
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Yes |
|
No |
|
-- |
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-- |
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No |
|
-- |
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-- |
|
-- |
OPERATION
The financial year 2010-11 has been one of the
most challenging years for the company. The orders volume, during the year,
reduced due to stiff competition in the market and deferment of work by the
clients on some of the projects/ order affected adversely the revenue and
profit. The company’s revenue during the current year reduced to Rs.124.757
millions from Rs.183.496 millions in the previous year and therefore the
company incurred net loss of Rs.38.382 millions as against profit of Rs.14.742
millions preceding year.
FIXED ASSETS
- Air Conditioner
- Vehicle
- Computer
- Furniture and Fixture
- Office Equipment
- Land and Building
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.50.02 |
|
|
1 |
Rs.78.05 |
|
Euro |
1 |
Rs.65.13 |
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 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
43 |
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.