|
Report Date : |
22.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
GLENMARK GENERICS LIMITED (w. e. f. 29.11.2007) |
|
|
|
|
Formerly Known
As : |
GLENMARK ORGANICS LIMITED |
|
|
|
|
Registered
Office : |
B/2, Mahalaxmi Chambers 22, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
29.09.1994 |
|
|
|
|
Com. Reg. No.: |
11-081597 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 1499.550 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1994PLC081597 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG05256G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCG9820D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Generic Pharmaceutical Products. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 43550000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Glenmark Pharmaceuticals Limited, a well established
and a reputed pharmaceutical company, listed on the stock exchange. It is a well established company having satisfactory track. There
appears a drastic dip in the profitability of the company. However, 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) |
|
India |
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 : |
B/2, Mahalaxmi Chambers 22, |
|
Tel. No.: |
91-22-24964893/ 24901481/ 67589999/ 40189999 |
|
Fax No.: |
91-22-24932648/ 24919652/ 67589986/ 40189986 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
5000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
Glenmark House, HDO Corporate Building, Wing A B C Sawant Marg,
Chakala, Andheri (East), Mumbai – 400099, |
|
Tel. No.: |
91-22-40189999/ 40189827 |
|
Fax No.: |
91-22-40189988/ 40189804 |
|
|
|
|
Manufacturing Units: |
Located At: ·
·
Ankleshwar ·
Kurkumbh ·
Mohol |
DIRECTORS
AS ON 01.08.2011
|
Name : |
Mr. Glenn Mario Saldanha |
|
Designation : |
Director |
|
Address : |
1101 to 1102, 111th Floor, Lasolita Rustomjee Building, Off
Turner Road 28th, 25th Road, Bandra (W), Mumbai – 400
050, Maharashtra, India |
|
Date of Birth/Age : |
26.11.1969 |
|
Date of Appointment : |
18.12.2007 |
|
DIN No.: |
00050607 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
L24299MH1977PLC019982 |
GLENMARK
PHARMACEUTICALS LIMITED |
Managing
director |
16-05-12 |
12-10-98 |
- |
Active |
NO |
|
2 |
U51900MH1996PLC102125 |
GLENMARK
ACCESS LIMITED |
Director |
28-09-01 |
28-09-01 |
- |
Active |
NO |
|
3 |
U24230MH1999PLC121475 |
GM
PHARMA LIMITED |
Director |
26-09-02 |
26-09-02 |
- |
Amalgamated |
NO |
|
4 |
U24110MH1994PLC081597 |
GLENMARK
GENERICS LIMITED |
Director |
05-09-08 |
18-12-07 |
- |
Active |
NO |
|
5 |
L92411MH2003PLC140134 |
TALWALKARS
BETTER VALUE FITNESS LIMITED |
Director |
23-09-10 |
09-10-09 |
22-11-11 |
Active |
NO |
|
Name : |
Mr. Rajesh Vasudeo Desai |
|
Designation : |
Director |
|
Address : |
102-D Wing, Shrinath Bhuvan, Nicolas Wadi, Yashwant Tawde Path,
Dahisar (West), Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
14.07.1958 |
|
Date of Appointment : |
30.06.2010 |
|
DIN No.: |
00050838 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
L24299MH1977PLC019982 |
GLENMARK
PHARMACEUTICALS LIMITED |
Whole-time
director |
09-11-11 |
16-05-02 |
Active |
NO |
|
2 |
U24110MH1994PLC081597 |
GLENMARK
GENERICS LIMITED |
Director |
30-06-10 |
21-01-08 |
Active |
NO |
|
Name : |
Mr. Terrace Joseph Coughlin |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
02.11.1965 |
|
Date of Appointment : |
05.09.208 |
|
DIN No.: |
02135498 |
|
|
|
|
Name : |
Julio Francis Ribeiro |
|
Designation : |
Director |
|
Address : |
5th Floor, Room No.51, Sagar Tarang Building, 15-A, K A G
Khan Road, Mumbai- 400030, Maharashtra, India |
|
Date of Birth/Age : |
05.05.1929 |
|
Date of Appointment : |
14.08.2008 |
|
DIN No.: |
00047630 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
L24299MH1977PLC019982 |
GLENMARK
PHARMACEUTICALS LIMITED |
Director |
26-08-99 |
26-08-99 |
- |
Active |
NO |
|
2 |
U99999MH1939PLC002994 |
V V
F LIMITED |
Director |
23-01-01 |
23-01-01 |
- |
Active |
NO |
|
3 |
U65191TN1994PLC079235 |
FULLERTON
INDIA CREDIT COMPANY LIMITED |
Director |
29-09-07 |
19-10-06 |
24-11-10 |
Active |
NO |
|
4 |
U24110MH1994PLC081597 |
GLENMARK
GENERICS LIMITED |
Director
appointed in casual vacancy |
05-09-08 |
14-08-08 |
- |
Active |
NO |
|
Name : |
Mr. Sridhar Anant Gorthi |
|
Designation : |
Director |
|
Address : |
1002, 10th Floor, June Blossoms, |
|
Date of Birth/Age : |
31.07.1972 |
|
Date of Appointment : |
14.08.2008 |
|
DIN No.: |
00035824 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
L24299MH1977PLC019982 |
GLENMARK
PHARMACEUTICALS LIMITED |
Director |
26-04-05 |
26-04-05 |
- |
Active |
NO |
|
2 |
U67110MH2006PTC160126 |
INSITE
INDIA ADVISORS PRIVATE LIMITED |
Director |
01-03-06 |
01-03-06 |
- |
Active |
NO |
|
3 |
U51395MH2003PTC142173 |
MOBILE2WIN
INDIA PRIVATE LIMITED |
Additional
director |
23-06-06 |
23-06-06 |
26-10-06 |
Active |
NO |
|
4 |
U40108KA2007PTC042089 |
BELGAUM
WIND FARMS PRIVATE LIMITED |
Director |
14-03-07 |
14-03-07 |
18-12-07 |
Active |
NO |
|
5 |
U67190MH2007PTC171254 |
BRV
INDIA ADVISORS PRIVATE LIMITED |
Director |
01-06-07 |
01-06-07 |
26-08-08 |
Strike
off |
NO |
|
6 |
U93000MH2008PTC177636 |
SIGUE
SUPPORT SERVICES PRIVATE LIMITED |
Director |
09-01-08 |
09-01-08 |
16-05-08 |
Active |
NO |
|
7 |
U72200PN2008PTC132061 |
REALCOM
TECHNOLOGY INDIA PRIVATE LIMITED |
Director |
19-05-08 |
19-05-08 |
22-01-09 |
Active |
NO |
|
8 |
U24110MH1994PLC081597 |
GLENMARK
GENERICS LIMITED |
Director
appointed in casual vacancy |
05-09-08 |
14-08-08 |
- |
Active |
NO |
|
9 |
U74300MH2008PTC186553 |
AUROUS
COMMUNICATIONS AND EVENTS INDIA PRIVATE LIMITED |
Director |
08-09-08 |
08-09-08 |
- |
Active |
NO |
|
10 |
U74990MH2009PTC194653 |
PAYPAL
PAYMENTS PRIVATE LIMITED |
Director |
05-08-09 |
05-08-09 |
- |
Active |
NO |
|
11 |
L64204MH1959PLC011421 |
HATHWAY
CABLE AND DATACOM LIMITED |
Director |
28-09-10 |
10-09-09 |
- |
Active |
NO |
|
12 |
U74999MH2002PTC137280 |
SCOTTISH
AND NEWCASTLE INDIA PRIVATE LIMITED |
Director |
11-08-10 |
10-01-10 |
- |
Active |
NO |
|
13 |
U73100MH2010PTC199595 |
RPS
RESEARCH INDIA PRIVATE LIMITED |
Director |
03-02-10 |
03-02-10 |
15-11-10 |
Active |
NO |
|
14 |
U74999MH2010PTC201437 |
PETROTIGER
SERVICES INDIA PRIVATE LIMITED |
Director |
30-03-10 |
30-03-10 |
- |
Active |
NO |
|
Name : |
Mr. Jalaj Sharma |
|
Designation : |
Additional Director |
|
Address : |
Flat 125 and 126, West End, D Wing, Raheja Vihar, Chandivali Farm
Road, Andheri (East), Mumbai – 400 072, Maharashtra, India |
|
Date of Birth/Age : |
24.09.1963 |
|
Date of Appointment : |
01.04.2009 |
|
DIN No.: |
02626340 |
|
|
|
|
Name : |
Mr. Natvarlal Bhimbhai Desai |
|
Designation : |
Director |
|
Address : |
701, Kubelisque Conominm, Union Park, Pali Hill, Nargis Dutt Road,
Mumbai – 400052, Maharashtra, India |
|
Date of Birth/Age : |
23.03.1927 |
|
Date of Appointment : |
30.06.2010 |
|
DIN No.: |
00029023 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
L24299MH1977PLC019982 |
GLENMARK
PHARMACEUTICALS LIMITED |
Director |
31-07-03 |
31-07-03 |
Active |
NO |
|
2 |
U24110MH1994PLC081597 |
GLENMARK
GENERICS LIMITED |
Director |
30-06-10 |
14-08-09 |
Active |
NO |
|
Name : |
Mr. Devendra Raj Mehta |
|
Designation : |
Director |
|
Address : |
B – 5, Mahavir Udyan Marg, Bajaj Nagar, Jaipur – 302015, |
|
Date of Birth/Age : |
25.06.1937 |
|
Date of Appointment : |
30.06.2010 |
|
DIN No.: |
01067895 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
L74899DL1995PLC066923 |
POLY
MEDICURE LIMITED |
Director |
17-05-10 |
26-05-05 |
- |
Active |
NO |
|
2 |
U67100MH2006PTC158601 |
OSETA
INVESTMENTS TRUSTEE COMPANY PRIVATE LIMITED |
Director |
16-01-06 |
16-01-06 |
22-01-09 |
Active |
NO |
|
3 |
L74899DL1995PLC066827 |
SPICE
COMMUNICATIONS LIMITED |
Director |
15-06-07 |
23-03-07 |
23-10-08 |
Amalgamated |
NO |
|
4 |
L29120MH1986PLC042028 |
JAIN
IRRIGATION SYSTEMS LIMITED |
Director
appointed in casual vacancy |
26-12-07 |
26-12-07 |
- |
Active |
NO |
|
5 |
U93090UP2007PTC033308 |
SPICE
INVESTMENTS AND FINANCE ADVISORS PRIVATE LIMITED |
Director |
29-08-08 |
18-08-08 |
31-01-11 |
Active |
NO |
|
6 |
L45200GJ1986PLC008717 |
JMC
PROJECTS (INDIA) LIMITED |
Director |
28-07-09 |
11-12-08 |
- |
Active |
NO |
|
7 |
U72900DL2008PTC178018 |
SPICE
INNOVATIVE TECHNOLOGIES PRIVATE LIMITED |
Additional
director |
12-03-09 |
12-03-09 |
17-08-09 |
Active |
NO |
|
8 |
U01122RJ2009PLC028415 |
ATUL
RAJASTHAN DATE PALMS LIMITED |
Additional
director |
10-06-09 |
10-06-09 |
- |
Active |
NO |
|
9 |
U24110MH1994PLC081597 |
GLENMARK
GENERICS LIMITED |
Director |
30-06-10 |
14-08-09 |
- |
Active |
NO |
|
10 |
L24299MH1977PLC019982 |
GLENMARK
PHARMACEUTICALS LIMITED |
Director |
25-09-09 |
14-08-09 |
- |
Active |
NO |
|
11 |
U34101HR1994PLC032462 |
M
AND M AUTO INDUSTRIES LTD |
Director |
09-04-10 |
09-04-10 |
11-10-10 |
Active |
NO |
|
12 |
U45202HP1988PLC008020 |
SPICE
RETAIL LIMITED |
Director |
05-08-10 |
05-08-10 |
- |
Active |
NO |
|
13 |
U80900DL2007PTC163495 |
EXTRAMARKS
EDUCATION PRIVATE LIMITED |
Director |
30-09-10 |
30-09-10 |
01-08-11 |
Active |
NO |
|
14 |
L72900UP1986PLC008448 |
S
MOBILITY LIMITED |
Director |
28-09-11 |
04-11-10 |
- |
Active |
NO |
|
15 |
U85110DL1991PTC042646 |
G.M.
MODI HOSPITALS CORPORATION PRIVATE LIMITED |
Director |
22-07-11 |
22-07-11 |
- |
Active |
NO |
|
16 |
U73200MH2007NPL169807 |
GANDHI
RESEARCH FOUNDATION |
Director
appointed in casual vacancy |
07-10-11 |
07-10-11 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Shankar Shivram |
|
Designation : |
Secretary |
|
Address : |
B 3, Deepak Anushakti Nagar, Mumbai – 400 094, |
|
Date of Birth/Age : |
25.10.1964 |
|
Date of Appointment : |
01.04.2008 |
|
PAN No.: |
AAKPS8920R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 01.08.2011
|
Names of Shareholders |
No. of Shares |
|
Glenmark Pharmaceuticals Limited, |
143204500 |
|
Gracias Saldanha Jointly with GPL, |
2000 |
|
Blanche E Saldanha Jointly GPL, |
501 |
|
Glenn Saldanha Jointly GPL, |
1496 |
|
Rajesh V desai Jointly with GPL, |
501 |
|
Cheryl Pinto Jointly with GPL, |
501 |
|
Abhinna S. Mohanty Jointly with GPL, |
504 |
|
Glenmark Exports Limited, |
1800000 |
|
Terrance Coughlin |
3197848 |
|
Paul Dutra |
913671 |
|
William Mcinytre |
228418 |
|
Vijayprakash C Soni |
228418 |
|
Pravin Kulkarni |
133 |
|
Greta Fernandes |
67 |
|
Panem Yoganjaneya Reddy |
1000 |
|
Mansi Bhatt |
333 |
|
Sitaram Rajaram Beldar |
67 |
|
Baban Baburao Aghade |
67 |
AS ON 01.08.2011
|
Equity Shares
Break Up |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
2.52 |
|
Bodies corporate |
97.39 |
|
Other top fifty shareholders |
0.09 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Generic Pharmaceutical Products. |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Injectibles |
Ltrs |
-- |
2688 |
|
Liquid Orals |
Ltrs |
-- |
105 |
|
Lotions &
Externals |
Ltrs |
-- |
843 |
|
Ointments and
Creams |
Kgs |
972000 |
121066 |
|
Solids and
Powders |
Kgs |
-- |
190628 |
|
Tablets and
Capsules |
Nos. |
4623000000 |
2128074053 |
|
Bulk Drugs |
Kgs. |
466000 |
154360 |
Notes:
1.
The products of the Company are exempt from
licensing procedures.
2.
Installed capacity, being a technical matter, has
not been verified by the auditors. However, the management has certified the
same.
3.
Actual production includes goods manufactured at third
party manufacturing facilities on loan licence basis and at leased facilities ,
however same is not considered for the installed capacity disclosure.
GENERAL INFORMATION
|
No. of Employees : |
500 (Approximately) |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
Axis Bank Limited, Axis House, 2nd Floor, E-Wing, Bombay
Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai-400025,
Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R G N Price and Company Chartered Accountant |
|
Address : |
204, |
|
Tel. No.: |
91-22-25281531, 67993443 |
|
Fax No.: |
91-22-25280291 |
|
Email: |
|
|
Pan No : |
AAAFR0651G |
|
|
|
|
Holding Company : |
·
Glenmark Pharmaceuticals Limited, India |
|
|
|
|
Wholly Owned Subsidiary Companies : |
·
Glenmark Generics (Europe) Limited, U.K. ·
Glenmark Generics Finance SA , Switzerland |
|
|
|
|
Indirect Subsidiaries : |
·
Glenmark Generics Inc, USA ·
Glenmark Generics S. A., Argentina ·
Glenmark Generics Holding S.A., Switzerland ·
Glenmark Generics B. V., Netherlands ·
Glenmark Arzneimittel GmbH, Germany |
|
|
|
|
Associate / Fellow Subsidiary Companies : |
·
Glenmark Exports Limited, India ·
Glenmark Dominicana SRL, Dominican Republic ·
Glenmark Impex L.L.C., Russia ·
Glenmark Philippines Inc., Philippines ·
Glenmark Farmaceutica Limited, Brazil ·
Glenmark Pharmaceuticals Europe Limited, UK ·
Glenmark Pharmaceuticals (Nigeria) Limited,
Nigeria ·
Glenmark Pharmaceuticals (Malaysia) Sdn.Bhd.,
Malaysia ·
Glenmark Pharmaceuticals (Thailand) Company
Limited, Thailand. ·
Glenmark Pharmaceuticals S.A., Switzerland ·
Glenmark Pharmaceuticals South Africa (Pty)
Limited, South Africa ·
Glenmark South Africa (Pty) Limited, South Africa ·
Glenmark Pharmaceuticals (Australia) Pty.
Limited, Australia ·
Glenmark Holding S.A., Switzerland ·
Glenmark Pharmaceuticals s.r.o, Czech Republic ·
Glenmark Pharmaceuticals S.R.L, Romania ·
Glenmark Pharmaceuticals Eood., Bulgaria. ·
Glenmark Pharmaceuticals Mexico s.a. de c.v.,
Mexico ·
Glenmark Pharmaceuticals Peru SAC., Peru ·
Glenmark Pharmaceuticals SP. z.o.o, Poland ·
Glenmark Distributors SP z.o.o, Poland ·
Glenmark Uruguay S.A., Uruguay ·
Glenmark Therapeutics Inc., USA ·
Glenmark Pharmaceuticals Egypt S. A. E., Egypt ·
Glenmark Pharmaceuticals FZE., United Arab
Emirates ·
Glenmark Pharmaceuticals Venezuela C.A.,
Venezuala ·
Glenmark Pharmaceuticals Colombia Ltda., Colombia ·
Glenmark Pharmaceuticals SK S.R.O, Slovak
Republic |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000000 |
Equity Shares |
Rs.10/- each |
Rs. 2000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
149955048 |
Equity Shares |
Rs.10/- each |
Rs. 1499.550
Millions |
|
|
|
|
|
AS ON 01.08.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000000 |
Equity Shares |
Rs.10/- each |
Rs. 2000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150324970 |
Equity Shares |
Rs.10/- each |
Rs. 1503.250
Millions |
|
|
|
|
|
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 |
1499.550 |
1496.030 |
750.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
9390.224 |
8963.095 |
1038.118 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
10889.774 |
10459.125 |
1788.118 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
269.630 |
1927.736 |
2611.857 |
|
|
2] Unsecured Loans |
8002.932 |
3127.788 |
1991.253 |
|
|
TOTAL BORROWING |
8272.562 |
5055.524 |
4603.110 |
|
|
DEFERRED TAX LIABILITIES |
582.959 |
589.654 |
583.723 |
|
|
|
|
|
|
|
|
TOTAL |
19745.295 |
16104.303 |
6974.951 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3854.862 |
3952.815 |
3224.757 |
|
|
Capital work-in-progress |
1866.583 |
2895.724 |
2617.416 |
|
|
|
|
|
|
|
|
INVESTMENT |
1061.550 |
1061.550 |
831.544 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
213.966 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2489.695
|
2162.322
|
1813.587
|
|
|
Sundry Debtors |
3892.883
|
3822.551
|
4778.651
|
|
|
Cash & Bank Balances |
189.847
|
129.071
|
30.709
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
10595.314
|
4975.939
|
2122.063
|
|
Total
Current Assets |
17167.739
|
11089.883 |
8745.010 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1627.441
|
1565.575
|
947.365
|
|
|
Other Current Liabilities |
2557.125
|
1315.114
|
7705.398
|
|
|
Provisions |
20.873
|
14.980
|
4.979
|
|
Total
Current Liabilities |
4205.439
|
2895.669 |
8657.742 |
|
|
Net Current Assets |
12962.300
|
8194.214
|
87.268
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
19745.295 |
16104.303 |
6974.951 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
10688.262 |
8261.754 |
7810.313 |
|
|
|
Other Income |
499.671 |
271.392 |
836.877 |
|
|
|
TOTAL (A) |
11187.933 |
8533.146 |
8647.190 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Service Cost |
6093.929 |
4272.787 |
4236.244 |
|
|
|
Administrative, Selling and Operating
Expenses |
1598.271 |
1301.616 |
1131.251 |
|
|
|
Research and Development Expenses |
248.977 |
130.808 |
10.481 |
|
|
|
Exceptional Items |
2339.780 |
0.000 |
1111.071 |
|
|
|
TOTAL (B) |
10280.957 |
5705.211 |
6489.047 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
906.976 |
2827.935 |
2158.143 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
160.160 |
851.376 |
524.114 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
746.816 |
1976.559 |
1634.029 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
326.382 |
268.388 |
211.874 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
420.434 |
1708.171 |
1422.155 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(6.695) |
219.093 |
379.011 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
427.129 |
1489.078 |
1043.144 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
1038.118 |
(5.026) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
427.129 |
2527.196 |
1038.118 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
9150.834 |
6649.046 |
6323.356 |
|
|
|
Interest Income |
243.846 |
69.445 |
4.683 |
|
|
|
Other Earnings |
5.577 |
9.154 |
23.815 |
|
|
TOTAL EARNINGS |
9400.257 |
6727.645 |
6351.854 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1051.161 |
869.068 |
684.468 |
|
|
|
Capital Goods |
63.883 |
58.254 |
73.053 |
|
|
TOTAL IMPORTS |
1115.044 |
927.322 |
757.521 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.85 |
12.49 |
13.91 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.82
|
17.45 |
12.06
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.93
|
20.68 |
18.20
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.00
|
11.35 |
11.88
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.16 |
0.79
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.20
|
0.82 |
7.41
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.08
|
3.83 |
1.01
|
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. Constructions 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 |
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 |
Yes |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
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 |
RESULTS OF
OPERATIONS
The Directors are pleased
to report satisfactory performance for the year. The Company achieved
consolidated Gross revenue of Rs 12372.060 Millions against previous year
consolidated Gross revenue of Rs.10940.775 Millions.
FORM 8
|
Corporate identity
number of the company |
U24110MH1994PLC081597 |
|
Name of the
company |
Glenmark Generics
Limited |
|
Address of the
registered office or of the principal place of business in |
B/2, Mahalaxmi Chambers 22, Bhulabhai Desai Road, Mumbai – 400026, Maharashtra |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10161795 |
|
Type of charge |
Immovable
property Movable property
(not being pledge) |
|
Particular of
charge holder |
Axis Bank Limited, Axis House, 2nd Floor, E-Wing, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai-400025, Maharashtra, India |
|
Nature of
instrument creating charge |
Link document for
earmarking of the limit and interchangeability dated April 15, 2011 |
|
Date of
instrument Creating the charge |
15.04.2011 |
|
Amount secured by
the charge |
Rs. 750.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest As per sanction
letter Terms of repayment As per sanction
letter Margin As per sanction
letter Extent and operation of the charge First pari passu
charge on immovable and movable fixed assets of the Company created vide deed
of hypothecation dated 18/6/2009 and memorandum of entry dated 9/2/2010 with
Axis Bank Limited |
|
Short particulars
of the property charged (Including location of the property) |
As per deed of
hypothecation dated 18th June 2009. As per memorandum
of entry dated 9th February 2010 |
|
Date of
instrument modifying the charge |
29.11.2010 |
|
Particulars of
the present modification |
Foreign Currency
Loan facilities (FCTL) of Axis Bank agg. US$ 6 million have been realigned by
conversion of FCTL to Rupee Term Loan to the extent of Rs 150.000 Millions
and rollover of FCTL of US$ 2.65 million |
Fixed Assets
·
·
Factory Buildings
·
Other Buildings and
Premises
·
Plant and Machinery
·
Furniture and Fixtures
·
Equipments
·
Vehicles
·
Computer Software
·
Goodwill
WEBSITE DETAILS
PROFILE
Subject aims to be a global integrated Generic and API
leader. The Company currently markets finished dose formulations in
Subject has a strong base in Formulation development with
teams operating out of laboratories in
Glenmark’s API division possesses strong, dedicated process
research capabilities and a dedicated team of scientists equipped with the best
analytical tools and a sophisticated information centre. Currently, GGL has
three API manufacturing plants in
Snapshot
GGL's US subsidiary
Glenmark Generics Inc (erstwhile Glenmark Pharmaceuticals Inc.) that was
incorporated in 2004 - posted revenue of USD 157.9 Mn for FY 08-09
against revenue of USD 140.03 Mn registering an increase of 30 % over the
previous year. GGI has grown the generic base in the
GGL's EU subsidiary
Glenmark Generics (
Glenmark acquired the Argentinean company Servycal S.A. with a focused oncology portfolio.
In the API domain, GGL has:
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. 56.41 |
|
|
1 |
Rs. 88.44 |
|
Euro |
1 |
Rs. 71.52 |
INFORMATION DETAILS
|
Information
Gathered by : |
-- |
|
|
|
|
Report Prepared
by : |
DPT |
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 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
44 |
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.