MIRA
INFORM REPORT
|
Report Date : |
18.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
CADILA PHARMACEUTICALS LIMITED |
|
|
|
|
Registered
Office : |
Cadila Corporate Campus, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
28.02.1991 |
|
|
|
|
Com. Reg. No.: |
04-015132 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.800.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231GJ1991PLC015132 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMC0038ID |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC6251E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited
Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Pharmaceutical
Products. |
|
|
|
|
No. of Employees
: |
2000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 8900000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and a reputed company having fine track.
Financial position of the company appears to be sound. Trade relations are
reported as fair. Business is active. Payments are reported to be regular 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.
INFORMATION DECLINED BY
|
Name : |
Mr. Vipul Gandhi |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-2718-225001 |
|
Date : |
17.07.2012 |
LOCATIONS
|
Registered / Corporate Office
: |
Cadila Corporate Campus, Sarkhej
- |
|
Tel. No.: |
91-2718-225001 (15 Lines) |
|
Fax No.: |
91-2718-225039 |
|
E-Mail : |
secretarial@cadilapharma.co.in rmankodi@cadilapharma.co.in
(For materials details) purchase@cadilapharma.com |
|
Website: |
|
|
Area : |
44 acres |
|
Location : |
Owned |
|
|
|
|
Factory 1: |
Dholka – Manufacturing Plant Survey No. 1389, Trasad Road,
Dholka, Ahmedabad – 387810, Gujarat, India |
|
Tel. No: |
91-79-23421841/83/84/3422006/7/8/9/10 |
|
Fax No: |
91-79-23420315/3421220 |
|
Area: |
50000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 2: |
Chemical SBU 294, GIDC Estate, Ankleshwar, Gujarat, India |
|
Tel. No: |
91-2646 - 223846, 252626, 251519 |
|
Fax No: |
91-2646 - 250051 |
|
|
|
|
Factory 3: |
CHPL – Factory / Survey No. 342, Nani Kadi,
Taluka Kadi, District Mehsana, North
Gujarat, |
|
Tel. No: |
91-2764-262463 / 242037 / 242194 |
|
Fax No: |
91-2764-242223 |
|
Location : |
Owned |
|
|
|
|
Factory 4: |
Chemicals SBU Factory Plot No. 274, GIDC Industrial Estate, Ankleshwar, |
|
Tel. No: |
91-2646-223846 / 252626 / 251519 |
|
Fax No: |
91-2646-250051 |
|
Area: |
174557 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 5: |
Tissu Culture Lab 756, Prakruti Farm, Hirapur
Chowkdi, Hirapur, Ahmedabad, Gujarat, India |
|
Tel. No: |
91-79-3855260/3855495/496 |
|
Location : |
Owned |
|
|
|
|
Factory 6: |
Jammu Industrial Growth Centre, Samba
– 184121, District Jammu, Jammu and Kashmir, India |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Indravadan Ambalal Modi |
|
Designation : |
Managing Director |
|
Address : |
13, Sanjiv Building, New Sharda
Mandir Road, Paldi, Ahmedabad –
380007, Gujarat, India |
|
Date of Birth/Age : |
18.02.1926 |
|
Qualification : |
B. Sc. (Technical), Ph.D.
(Biology), Chemical Engineer from |
|
Date of Appointment : |
27.05.1995 |
|
DIN No.: |
|
|
|
|
|
Name : |
Dr. Rajiv Indravadan Modi |
|
Designation : |
Managing Director |
|
Address : |
13, Sanjiv Building, New Sharda
Mandir Road, Paldi, Ahmedabad –
380007, Gujarat, India |
|
Date of Birth/Age : |
09.05.1960 |
|
Qualification : |
Ph. D. in
Biological Science |
|
Date of Appointment : |
28.02.1991 |
|
DIN No.: |
01394558 |
|
|
|
|
Name : |
Prof. Atul Bipinbhai Tandon |
|
Designation : |
Director |
|
Address : |
A/43, Royal Orchid, Corporate
Road, Opposite Prahlad Nagar Gardens, Prahlad Nagar, Ahmedabad – 380015,
Gujarat, India |
|
Date of Birth/Age : |
03.01.1948 |
|
Date of Appointment : |
04.07.2003 |
|
DIN No.: |
00165667 |
|
|
|
|
Name : |
Mr. Daya Nand Khurana |
|
Designation : |
Director |
|
Address : |
288, Vasant Enclave, Vasant
Vihar, |
|
Date of Birth/Age : |
15.05.1935 |
|
Date of Appointment : |
04.07.2003 |
|
DIN No.: |
00020601 |
|
|
|
|
Name : |
Mrs. Monika Garware Modi |
|
Designation : |
Director |
|
Address : |
13, Sanjiv Building, New Sharda
Mandir Road, Paldi, Ahmedabad – 380
007, Gujarat, India |
|
Date of Birth/Age : |
04.06.1963 |
|
Date of Appointment : |
16.12.1995 |
|
DIN No.: |
00143400 |
|
|
|
|
Name : |
Mr. Chinubhai Ramanlal Shah |
|
Designation : |
Director |
|
Address : |
402, Heritage Cresent, |
|
Date of Birth/Age : |
04.06.1937 |
|
Date of Appointment : |
31.03.2001 |
|
DIN No.: |
00558310 |
|
|
|
|
Name : |
Prof. Pradip Navin Khandwalla |
|
Designation : |
Director |
|
Address : |
B/101, |
|
Date of Birth/Age : |
18.02.1940 |
|
Date of Appointment : |
14.09.2007 |
|
DIN No.: |
00064643 |
|
|
|
|
Name : |
Mrs. Shilaben Indravadan Modi |
|
Designation : |
Director |
|
Address : |
13, Sanjiv Baug, New |
|
Date of Birth/Age : |
09.12.1931 |
|
Qualification : |
Matriculate |
|
Date of Appointment : |
16.12.1995 |
|
DIN No.: |
01976356 |
|
|
|
|
Name : |
Mr. Sanjay Sinha |
|
Designation : |
Director |
|
Address : |
A/ 31, Orchid Woods, Opposite
Vodafone House, Prahlad Nagar, Corporate Road, Ahmedabad – 380015, Gujarat,
India |
|
Date of Birth/Age : |
01.11.1958 |
|
Date of Appointment : |
01.09.2011 |
|
DIN No.: |
03627342 |
KEY EXECUTIVES
|
Name : |
Mr. Shreyas Kunjvuhari Parikh |
|
Designation : |
Company Secretary |
|
Address : |
B 001, Aakasheep Anne, Near Shreyas
Railway Crossing, Amba Wadi, Ahmedabad – 380 006, |
|
Date of Birth/Age : |
12.08.1957 |
|
Date of Appointment : |
22.02.2008 |
|
PAN No.: |
AEIPP6513R |
|
|
|
|
Name : |
Mr. Vipul Gandhi |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Indravadan A Modi |
7999990 |
|
Shilaben I Modi |
7999990 |
|
I. A. Modi |
59460955 |
|
I. A. Modi (HUF) |
10 |
|
Shilaben I Modi |
13333 |
|
R. I. Modi |
4525712 |
|
I. A. Modi |
10 |
|
Total |
80000000 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
80.00 |
|
Directors or relatives of Directors |
20.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pharmaceutical
Products. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
|
Unit |
Installed
Capacity |
Actual
Production |
|
Tablets |
|
Nos in million |
14913 |
6116 |
|
Capsules |
|
Nos in million |
1124 |
300 |
|
Injections |
|
Kilo Litres |
298 |
216 |
|
Liquids |
|
Kilo Litres |
10376 |
2071 |
|
Ophthalmic |
|
Kilo Litres |
0 |
24 |
|
Ointment |
|
M.T |
0 |
6 |
|
Dry powder injections |
|
M.T |
10 |
5 |
|
Granules and dry syrups |
|
M.T |
220 |
1 |
|
Bulk drugs |
|
M.T |
979 |
1069 |
|
Tissue cultures |
|
Nos in million |
10 |
10 |
Notes:
1. As the Industrial
licensing in respect of Drugs and Pharmaceuticals produced by the Company has
been waived, the particulars of licensed capacity are not stated.
2. The installed capacity
is taken on 2 shift working, as Certified by Management.
3. Production
includes production under Loan License arrangement.
GENERAL INFORMATION
|
No. of Employees : |
2000 (Approximately) |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Bank of Baroda, CFS Ellis Bridge, Ahmedabad,
Gujarat, India ·
Central Bank of
India, Lal Darwaja, Ahmedabad – 380 001, Gujarat, India ·
Bank of Maharashtra ·
Dena Bank ·
State Bank of
Saurashtra ·
Tamilnadu
Mercantile Co-operative Bank Limited ·
Vijaya Bank ·
Bank of Baroda ,
Corporate Financial Services Branch, Ahmedabad-380006, Gujarat, India ·
Corporation Bank,
Avrangpura Branch, Ahmedabad, Gujarat, India ·
Oriental Bank of
Commerce, Ashram Road, Ahmedabad, Gujarat, India ·
Punjab National
Bank, Ashram Road Branch, Satellite, Ahmedabad – 380 009, Gujarat, India ·
Union Bank of India,
Industrial Finance Branch, Ashram Road, Ahmedabad, Gujarat, India ·
Axis Bank Limited,
Ahmedabad, Gujarat, India ·
Syndicate Bank,
Ashram Road Branch, Ahmedabad-380 009, Gujarat, India ·
ICICI Bank, Bandra,
Mumbai, Maharashtra, India ·
Canara Bank, Bhadra
Branch, Ahmedabad - 380001 ·
Export Import Bank
of India, Centre One, World Trade Centre, Cuffe Parade, Mumbai-400005,
Maharashtra, India ·
State Bank of India ·
Allahabad Bank,
Ashram Road Branch, Ahmedabad-380014, Gujarat, India ·
State Bank of Mysore ·
HDFC Bank Limited,
HDFC Bank House Senapati Bapat Marg, Lower Parel West, Mumbai – 400013,
Maharashtra, India ·
The Karnataka Bank
Limited, Shree Gantha Karna Mahavee Complex, Near New Cloth Market, Sarangpura,
Ahmedabad- 380002, Gujarat, India |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
(A) Term Loans: (a) Bank of Baroda Rs.759.999 Millions (b) Syndicate Bank Rs.93.780
Millions (c) Dena Bank Rs.1400.000 Millions (d) Canara Bank Rs.49.959
Millions (e) Central Bank of India Rs.650.000 Millions (f) Corporation Bank
Rs.153.895 Millions [Term Loans from (a) to (f) are secured by pari passu
first charge on all movable and immovable fixed assets of the Company, except
land and building at Jammu and vehicle mentioned at (ii) below, by way of
Equitable Mortgage on land and building and hypothecation of plant and machinery(both
present and future),and further secured by second charge on current assets of
the company except loan from Corporation bank, Syndicate Bank and Canara Bank
as well as personal guarantee of a director.] [ b) Term loan from Corporation
and Syndicate banks are further secured by pledge on Shares of Apollo
Hospitals International Limited.] (B) TERM LOANS: (a) Bank of Baroda Rs.524.996 Millions (b) Syndicate Bank 131.210
Millions (c) Dena Bank 1399.877 Millions (d) Canara Bank Rs.90.000 Millions (e)
Central Bank of India 399948175 (f) Corporation Bank 216262323 [Term Loans
from (a) to (f) are secured by pari passu first charge on all movable and
immovable fixed assets of the Company, except land and building at Jammu and
vehicle mentioned at (ii) below, by way of Equitable Mortgage on land and
building and hypothecation of plant and machinery(both present and
future),and further secured by second charge on current assets of the company
except loan from Corporation bank, Syndicate Bank and Canara Bank as well as
personal guarantee of a director.] [ b) Term loan from Corporation and
Syndicate banks are further secured by pledge on Shares of Apollo Hospitals
International Limited.] (C) Working Capital Loans From Banks : (1) Cash Credit and Packing Credit
account Rs.1166.752 Millions (2) Working Capital Demand Loan Rs.213.184
Millions [Working Capital Loans : Secured by the hypothecation of
stock-in-trade, packing materials, stores, spare parts, book-debts and pledge
of title of goods despatched and further secured by second charge on all
movable and immovable fixed assets of the Company except land and building
situated at Jammu and personal guarantee of a director.] (D) Working Capital Loans From Banks : (1) Cash Credit and Packing Credit
account 584984126 (2) Working Capital Demand Loan Rs.363.458 Millions
[Working Capital Loans : Secured by the hypothecation of stock-in-trade,
packing materials, stores, spare parts, book-debts and pledge of title of
goods despatched and further secured by second charge on all movable and
immovable fixed assets of the Company except land and building situated at
Jammu and personal guarantee of a director.] (E) Vehicle Loans: Secured by hypothecation of specific vehicles
financed out of the loans. (F) Vehicle Loans: Secured by hypothecation of specific vehicles
financed out of the loans. (G) Secured Loans include Rs.812.567 Millions repayable within one
year (H) Secured Loans include Rs.374.614 Millions repayable within one
year Unsecured Loans : (A) Fixed Deposits: (1) Public Rs.106.652 Millions (2) Directors Rs.109.738 Millions (3) Shareholders Rs.198.951 Millions (B) Fixed Deposits: (1) Public Rs.103.939 Millions (2) Directors Rs.94.179 Millions (3) Shareholders Rs.193.459 Millions (C) From Deptt.of Science and Technology [Represents loan from Dept.
Of Science and Technology under Pharmaceutical Research and Development
Programme for development] (D) From Deptt.of Science and Technology [Represents loan from Dept.
Of Science and Technology under Pharmaceutical Research and Development
Programme for development] (E) Unsecured Loans include Rs.33.963 Millions repayable within one
year (F) Unsecured Loans include Rs.17.317 Millions repayable within one
year |
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
‘Heritage’, 3rd
Floor, Near Gujarat Vidhyapith, Off Ashram Road, Ahmedabad – 380 014,
Gujarat, India |
|
Tel. No.: |
91-79-27582542/ 27582543/
266073100 |
|
Fax No.: |
91-79-27582551 |
|
E-Mail : |
AABFD7919A |
|
PAN.: |
|
|
|
|
|
Associates Company : |
·
Casil Health Products Limited ·
Casil Industries Limited ·
Apollo Hospitals International Limited ·
Green Channel LogiSolutions Limited |
|
|
|
|
Subsidiaries Company : |
·
Satellite Overseas Holdings Limited, UK ·
Caidla Pharmaceuticals (E. A) Limited, Kenya ·
Interpharma Industries Limited, Nigeria ·
CPL Biologicals Private Limited CIN
No : U01403GJ2009PTC056409 ·
Cadila Pharmaceuticls(Ethiopia) Plc., Ethopia ·
SOHL Inc., U.S.A. ·
CPL Inc., U.S.A. ·
Kadera Yakuhin Limited, Japan ·
CPL Biologicals Private Limited ·
CPL Agro Products Private Limited ·
CPL Holdings Private Limited ·
Cadila Pharma (Europe) Limited, U.K. |
|
|
|
|
Enterprises
significantly influenced by Directors and / or their relatives : |
·
Cadila Laboratories Limited ·
CPL Infrastructure Private Limited ·
IRM Limited ·
IRM Enterprises Private Limited ·
Karnavati Enggineering Limited ·
Shri I.A.Modi (H.U.F)-A/C no.1 ·
Shri I.A.Modi (H.U.F)-A/C no.2 ·
Shri I.A.Modi (H.U.F.)-A/C no.3 ·
Shri I.A.Modi (H.U.F) ·
J. Modi Family Trust ·
Indraj Trust ·
IRM Trust ·
Manendra Family Trust ·
Manshi Family Trust ·
Manthan Family Trust ·
Mayur Family Trust ·
Mihir Family Trust ·
Raj Trust ·
Shantaben Family Will Trust ·
Shil Trust ·
Shilraj Trust ·
A Modi Family Trust ·
Miten Family Trust ·
Rajiv Family Trust ·
Shilaben Family Trust |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
80000000 |
Equity Shares |
Rs.10/- each |
Rs.800.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
80000000 |
Equity Shares |
Rs.10/- each |
Rs.800.000 Millions |
|
|
|
|
|
Notes:
(Out of which:
1,48,84,423 Equity Shares were issued pursuant to scheme of Arrangement and Amalgamation,
without payment being received in cash and 1,50,00,000 Equity Shares of
Rs.10/-each fully paid up, issued as Bonus Shares)
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 |
800.000 |
800.000 |
800.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1427.297 |
1332.124 |
1314.395 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2227.297 |
2132.124 |
2114.395 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
4549.034 |
3754.357 |
3704.106 |
|
|
2] Unsecured Loans |
778.522 |
697.619 |
1064.987 |
|
|
TOTAL BORROWING |
5327.556 |
4451.976 |
4769.093 |
|
|
DEFERRED TAX LIABILITIES |
490.447 |
462.131 |
458.700 |
|
|
|
|
|
|
|
|
TOTAL |
8045.300 |
7046.231 |
7342.188 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3415.718 |
3382.072 |
2964.291 |
|
|
Capital work-in-progress |
444.523 |
102.845 |
559.541 |
|
|
|
|
|
|
|
|
INVESTMENT |
1197.025 |
1138.500 |
702.230 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1506.732
|
1148.883
|
1285.725 |
|
|
Sundry Debtors |
1781.776
|
1601.648
|
1791.952 |
|
|
Cash & Bank Balances |
201.900
|
274.876
|
223.547 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
1206.120
|
992.624
|
1669.952 |
|
Total
Current Assets |
4696.528
|
4018.031
|
4971.176 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1097.223
|
1050.234
|
1333.024 |
|
|
Other Current Liabilities |
556.440
|
493.928
|
390.744 |
|
|
Provisions |
54.831
|
51.055
|
131.282 |
|
Total
Current Liabilities |
1708.494
|
1595.217
|
1855.050 |
|
|
Net Current Assets |
2988.034
|
2422.814
|
3116.126 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
8045.300 |
7046.231 |
7342.188 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
7668.501 |
6478.223 |
6538.342 |
|
|
|
Other Income |
232.031 |
250.545 |
374.466 |
|
|
|
TOTAL (A) |
7900.532 |
6728.768 |
6912.808 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase or Decrease in Stock |
3306.592 |
2886.378 |
|
|
|
|
Manufacturing service costs |
552.369 |
399.254 |
|
|
|
|
Employee related expenses |
1082.120 |
942.562 |
|
|
|
|
Administrative, Selling and
other Expenses |
1538.328 |
1256.950 |
5984.785 |
|
|
|
Research and Development
Expenses |
322.773 |
275.070 |
|
|
|
|
Exceptional items |
0.000 |
0.096 |
|
|
|
|
Other Expenses |
253.961 |
295.861 |
|
|
|
|
TOTAL (B) |
7056.143 |
6056.171 |
5984.785 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
844.389 |
672.597 |
928.023 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
444.627 |
424.465 |
405.645 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
399.762 |
248.132 |
522.378 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
242.856 |
221.698 |
218.763 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
156.906 |
26.434 |
303.615 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
61.733 |
8.705 |
82.429 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
95.173 |
17.729 |
221.186 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1177.773 |
1160.044 |
1027.796 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
6.000 |
|
|
|
Dividend |
0.000 |
0.000 |
70.890 |
|
|
|
Tax on Dividend |
0.000 |
0.000 |
12.048 |
|
|
BALANCE CARRIED
TO THE B/S |
1272.946 |
1177.773 |
1160.044 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
237.146 |
149.845 |
220.658 |
|
|
|
Research material |
4.674 |
3.306 |
4.176 |
|
|
|
Stores and spares |
16.410 |
4.335 |
16.196 |
|
|
|
Capital goods |
140.428 |
116.428 |
181.495 |
|
|
|
Packing material |
4.212 |
1.173 |
3.402 |
|
|
TOTAL IMPORTS |
402.870 |
275.087 |
425.927 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.19 |
0.22 |
3.12 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.20
|
0.26
|
3.20 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.04
|
0.41
|
4.64 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.93
|
0.35
|
3.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.01
|
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.15
|
2.84
|
3.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.75
|
2.52
|
2.68 |
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 |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (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 |
DETAILS OF SUNDRY
CREDITORS
(Rs.
In Millions)
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
Creditors due small micro enterprises |
0.000 |
0.000 |
0.000 |
|
Creditors due others |
1097.223
|
1050.234
|
1333.024 |
|
Total |
1097.223
|
1050.234
|
1333.024 |
REVIEW OF
OPERATIONS
During the year,
the net sales increased to Rs.7668.501 Million from Rs.6478.223 Million in 2009-10,
registering a growth of about 12%. Profit before tax (PBT) improved
significantly to Rs.156.906 Million and Profit after tax (PAT) to Rs.95.173
Million in the current year as against PBT of Rs.26.434 Million and PAT of
Rs.17.729 Million in the previous year.
Contingent Liabilities (As on 31.03.2011)
(a) Guarantees
given by a Bank and counter guarantee given by the Company – RS.543.827
Millions
(b)Estimated
amount of contracts remaining to be executed on capital account and not
provided for, net of advances - Rs.35.945 Millions
(c) The demand
raised by the Ministry of Chemical & Fertilizer, Govt. of India and
disputed by the Company based on the legal advice Rs.14.242 Millions
(d) The claims against
the Company not acknowledged as debts - Rs.124.509 Millions
(e) The demand
raised by the Central and State Excise Department against which the Company is
in appeal and pending for decision Rs.29.609 Millions
(f) Disputed
Income Tax and Wealth Tax matters – Rs.31.500 Millions
(g) Disputed Sales
Tax Matters Rs.8.300 Millions
(h) Municipal
Property Tax for the years 1986-87 to 1994-95 against which the Company has
filed an appeal in Court and the said Court has issued stay order Rs.0.510
Millions
(i) Excise Duty
Refund at Jammu for year 2008-09 and 2009-10 against which the Company has
filed Writ petition in Hon'ble High Court of Jammu and Kashmir Rs.110.740
Millions
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U24231GJ1991PLC015132 |
|
Name of the
company |
CADILA
PHARMACEUTICALS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Cadila Corporate
Campus, Sarkhej Dholka Road, Ahmedabad
– 380008, Gujarat, India Email Id : secretarial@cadilapharma.co.in |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
90103281 |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
Bank Of Baroda,
Corporate Financial Services Branch, Bob Towers, Oppoiste Law Garden,
Ellisbridge, Ahmedabad –
380009, India Email Id : corahm@bankofbaroda.com |
|
Nature of
instrument creating charge |
Instrument of
extension relating to deposit of title deeds by constructive delivery
executed on 24th august, 2011 to secure fresh term loan aggregating to
Rs.650.000 Millions granted by Indian Overseas Bank |
|
Date of
instrument Creating the charge |
24.08.2011 |
|
Amount secured by
the charge |
Rs.6160.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 1. Term Loan -
Base Rate +1.00% i.e. 10.50% 2. Corporate Loan
- Base Rate +2.00%, i.e.11.50% Terms of repayment 1. Term loan to
be repaid in 20 quarterly installments of Rs.25.000 Millions after moratorium
period of 24 months from the date of first disbursement 2. Corporate Loan
to be repaid in 16 quarterly installments of Rs.9.375 Millions after
moratorium period of 24 months from the date of first disbursement 3. Monthly
interest shall be serviced by the company as and when charged to the account Margin Margin for Term
Loan - 16.66% and Nil for Corporate Loan Extent and operation of the charge First mortgage
and pari passu charge basis to Term Loan lenders amounting to Rs.4360.000
Millions (incl. Rs.650.000 Millions granted by Indian Overseas bank) and
second mortgage and pari passu charge basis to BOB consortium members
amounting to Rs.1800.000 Millions on the properties fully described in the
Second Schedule, thus making the aggregate facilities to Rs.6160.000 Millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
More particularly
described in the Second Schedule attached to the Instrument of extension relating
to deposit of title deeds dated 24th August, 2011 |
|
Date of
instrument modifying the charge |
21.12.2010 |
|
Particulars of
the present modification |
The present
charge has been modified to extend the first pari passu charge in favour of Indian
Overseas Bank, Ashram Road, Ahmedabad, to secure the fresh Term Loan of
Rs.500.000 Millions and Corporate Term Loan of Rs.150.000 Millions
aggregating to Rs.650.000 Millions along with other bankers by constructive
deposit of title deeds in favour of Bank of Baroda, CFS Branch, BOB Towers,
Opp. Law Garden, Ellisbridge, Ahmedabad, Gujarat, India |
FIXED
ASSETS
·
Freehold Land
·
Leasehold Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipments
·
Vehicles
·
Live Stock
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.55.15 |
|
|
1 |
Rs.86.30 |
|
Euro |
1 |
Rs.67.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
64 |
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.