MIRA
INFORM REPORT
|
Report Date : |
28.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
INTAS PHARMACEUTICALS LIMITED (w.e.f. 10.03.1995) |
|
|
|
|
Formerly Known As : |
INTAS LABORATORIES PRIVATE LIMITED |
|
|
|
|
Registered Office : |
2nd Floor,
Chinubhai Centre, Off |
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|
Country : |
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|
|
|
Financials (as on) : |
31.03.2011 |
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|
|
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Date of Incorporation : |
31.05.1985 |
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|
|
|
Com. Reg. No.: |
04-007866 |
|
|
|
|
Paid-up Capital : |
Rs.1034.767
Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24231GJ1985PLC007866 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
AHMI00350A |
|
|
|
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PAN No.: [Permanent
Account No.] |
AAACI5120L |
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|
|
|
Legal Form : |
A closely held
public limited liability company |
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|
|
Line of Business : |
Manufacturer and Exporter of Pharmaceutical Products. |
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|
|
No. of Employees : |
5000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
|
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 37000000 |
|
|
|
|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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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 dealing 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 PARTED BY
|
Name : |
Mr. Pruthvi |
|
Designation : |
Senior Executive Finance |
|
Contact No.: |
91-79-26576655 |
|
Date : |
26.06.2012 |
LOCATIONS
|
Registered/Corporate Office : |
2nd Floor,
Chinubhai Centre, Off Nehru Bridge, Ashram Road, Ahmedabad-380 009, Gujarat,
India |
|
Tel. No.: |
91-79-26576655 / 26579052 / 26578269 / 26623100 |
|
Fax No.: |
91-79-26588862 / 26578862 |
|
Mobile No : |
91-9825346660 (Mr. Kewak Chokshi) |
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E-Mail : |
|
|
Website : |
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|
Area : |
400 Sq. Ft 8 Floor Building [some are owned some are rented premises] |
|
Location : |
Owned |
|
|
|
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Corporate office
: |
Chinu Bhai Centre, Off |
|
Tel No : |
91-79-26576655 |
|
Fax No : |
91-79-26578862 |
|
|
|
|
Factory 1 : |
Plot No. 457/458
, Sarkhej - |
|
Tel. No.: |
91-2717-551111/551298 |
|
Fax No.: |
91-2717-551106 |
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|
|
|
Factory 2 : |
7/3 GIDC Estate, B/H Dena Bank, Vatva, Ahmedabad- 382445, |
|
Tel No : |
91-79-25831279 |
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Fax No : |
91-79-25830207 |
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|
|
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Factory 3 : |
85/87 Kailash Industrial Estate, Post Jyawa Taluka, Sanand, Ahmedabad,
|
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Tel. No.: |
91-2717-284188 |
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|
|
|
Factory 4 : |
Valia, Near Bharuch, Ankaleshwar, Gujarat, India |
DIRECTORS
As on: 12.08.2011
|
Name : |
Mr. Nimish Hasmukh Bhai Chudgar |
|
Designation : |
Director |
|
Address : |
3, Sanidhya Bunglows, Near |
|
Date of Birth/Age : |
19.08.1960 |
|
Date of Appointment : |
31.05.1985 |
|
DIN No.: |
00212400 |
|
Name : |
Mr. Urmish Hasmukh Chudgar |
|
Designation : |
Director |
|
Address : |
16, Nishant Bungalows, Satellite, Ahmedabad-380015, |
|
Date of Birth/Age : |
16.02.1959 |
|
Date of Appointment : |
30.09.1996 |
|
DIN No.: |
00096080 |
|
Name : |
Mr. Binish Hasmukh Chudgar |
|
Designation : |
Director |
|
Address : |
12, Aristo Villa Opposite Gold Coin Complex, Satellite, |
|
Date of Birth/Age : |
01.12.1963 |
|
Date of Appointment : |
31.05.1985 |
|
DIN No.: |
00119503 |
|
Name : |
Mr. Hasmukh K. Chudgar |
|
Designation : |
Director |
|
Address : |
3, Sanidhya Bunglows, Near |
|
Date of Birth/Age : |
16.05.1933 |
|
Date of Appointment : |
31.05.1985 |
|
DIN No.: |
00172265 |
|
Name : |
Mr. Nitin Ram Potdar |
|
Designation : |
Additional director |
|
Address : |
202, Phoenix House. Sayani Road. Opposite Ravindra Natya
Mandir, Prabhadevi, Mumbai -400 025. Maharashtra, India |
|
Date of Birth/Age : |
21.02.1963 |
|
Date of Appointment : |
09.02.2011 |
|
DIN No.: |
00452644 |
|
Name : |
Mr. Surender Kumar Tuteja |
|
Designation : |
Additional director |
|
Address : |
S-307, Ilnd Floor,
Panchshceel Park, New Delhi – 110017, India |
|
Date of Birth/Age : |
15.06.1945 |
|
Date of Appointment : |
09.02.2011 |
|
DIN No.: |
00594076 |
|
Name : |
Mr. Tilokchand Punamchand Ostwal |
|
Designation : |
Additional director |
|
Address : |
103-104, Falcon’s Crest,
G. D. Ambedkar Marg, Parel, Mumbai -400 012, Maharashtra, India |
|
Date of Birth/Age : |
07.11.1954 |
|
Date of Appointment : |
19.03.2011 |
|
DIN No.: |
00821268 |
|
Name : |
Mr. Hemant Devidas Sheth |
|
Designation : |
Additional director |
|
Address : |
101, Aangan Plot No.40, T. V. Chindambaran Marg, Sion (East), Mumbai –
400 022, Maharashtra, India |
|
Date of Birth/Age : |
29.11.1961 |
|
Date of Appointment : |
09.02.2011 |
|
DIN No.: |
01261486 |
|
Name : |
Mr. Sanjiv Dwarkanath Kaul |
|
Designation : |
Nominee director |
|
Address : |
22 Siris Road, DLF Phase-3, Gurgaon-122002, Haryana, India |
|
Date of Birth/Age : |
25.07.1957 |
|
Date of Appointment : |
05.01.2006 |
|
DIN No.: |
01550413 |
|
Name : |
Mr. John Geoffrey Goddard |
|
Designation : |
Additional director |
|
Address : |
38. Delvino Road, London SW6 4AJ, United kingdom |
|
Date of Birth/Age : |
19.07.1951 |
|
Date of Appointment : |
09.02.2011 |
|
DIN No.: |
03420601 |
KEY EXECUTIVES
|
Name : |
Mr. N. Manoj Nair |
|
Designation : |
Company Secretary |
|
Address : |
Plot No. 648/1, Sector-4 C, Gandhi Nagar-382006 |
|
Date of Birth/Age : |
20.10.1979 |
|
Date of Appointment : |
08.07.2007 |
|
PAN No.: |
AEBPN7909Q |
|
|
|
|
Name : |
Mr. Pruthvi |
|
Designation : |
Senior Executive Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 12.08.2011
|
Names of Shareholders |
|
No. of Shares |
|
Nimish H Chudgar |
|
6261080 |
|
Binish H Chudgar |
|
6037480 |
|
Umish H Chudgar |
|
100200 |
|
Kusumben H Chudgar |
|
2008050 |
|
Bindiben B Chudgar |
|
6813816 |
|
Parulben U Chudgar |
|
6889116 |
|
Binaben N Chudgar |
|
5390216 |
|
Hasmukh K Chudgar |
|
3493660 |
|
Equatorial Private Limited, India
|
|
46200000 |
|
Mozart Limited, Mauritius |
|
11621100 |
|
Intas Finance Private Limited, India |
|
4000000 |
|
Chudgar U. Shall |
|
4661980 |
|
Total
|
|
103476698 |
As on: 12.08.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
|
Percentage of Holding |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
11.23 |
|
Bodies
corporate (not mentioned above) |
|
48.52 |
|
Directors
or relatives of directors |
|
40.25 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Pharmaceutical Products. |
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Products : |
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Exports : |
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Products : |
·
Pharmaceutical
Products |
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Countries : |
·
USA ·
UK ·
Brazil ·
Spain ·
Italy ·
Germany |
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Imports : |
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Products : |
·
Raw Materials |
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Countries : |
·
USA ·
UK ·
Spain ·
China ·
Germany |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users |
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No. of Employees : |
5000 (Approximately) |
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Bankers : |
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Facilities : |
Note: (i) 1,050
(Previous Year: 1,050) Secured Non-convertible Debentures of Rs. 1 million
each redeemable at par from the end of third year to five year from the date of
allotment viz. 06.11.2009 in equal installments, or fully redeemable at par
in full at the option of the Company or Lender(s) at the end of the third
year from the date of allotment. (ii) Working
capital facilities are secured by first charge on the entire current assets
of the Company, both present and future and moveable fixed assets of Vatva
Unit and future and second parri passu charge on moveable fixed assets and
immovable fixed assets 0f the company (except vatva plant and certain offices
at coporate office building). (iii) The NCD,
Term loans and ECB are secured by charge on the movable and immovable assets
of the company (except vatva plant), Intas Pharma Limited (WOS) and Intas
Pharmaceutcials (Partnership Firm). (iv) Under Hire
Purchase arrangement where the vendors have a lien on and right of
repossession of specific assets.
|
|
Banking Relations : |
-- |
|
|
|
|
Financial Institution : |
·
IDBI Trusteeship Services Limited, Asian
Building, Ground Floor 17, R. Kamani Marg, Ballard Estate, Mumbai-400001,
Maharashtra, India. ·
BNP Paribas, 20 Collyer Quay, Trung Centre,
Singapore – 049319 |
|
|
|
|
Auditors : |
|
|
Name : |
Apaji Amin and
Company Chartered
Accountant |
|
Address : |
304, Aakansha,
Navrangpura, Ahmedabad - 380 009, |
|
Tel. No.: |
91-79-2303603 |
|
Pan No.: |
AAFFA6140C |
|
|
|
|
Related Parties : |
·
Advanced Transfusion Medicine Research Foundation
·
Astron Packaging Limited ·
Celestial Biologicals Limited (Till 30.11.2010) ·
Cytas Research Limited ·
Epsilon Marketing and Consultancy Private Limited ·
Equatorial Private Limited ·
Indus Biotherapeutics Limited (Till 30.11.2010) ·
Indus Biotherapeutics Limited (IBPL) (Till
30.11.2010) ·
Intas Enterprise Private Limited ·
Jina Pharmaceuticals Inc., USA ·
Jina Pharmaceuticals Limited. India ·
Lambda Therapeutic Research Limited ·
Lambda Therapeutic Limited, UK ·
One Advertising and Communication Services
limited ·
Pharm V Solutions Limited, UK ·
Prime Paediatrics Private Limited ·
Lambda Therapeutic Research SP ZOO., Poland ·
MPR Pharma SP ZOO, Poland ·
Lambda Therapeutic Research Inc., USA ·
Lambda Therapeutic Research Inc., Canada ·
Unipath Specialty Laboratory Private Limited |
|
|
|
|
Associates : |
·
Odpowiedzialnoscia, Poland ·
Farmabiot SA DE CV, Mexico ·
ViroPro Inc., USA (Investment by IBPL) ·
Accord Healthcare AB, Sweden ·
Celestial Biologicals Limited (w.e.f. 01.12.2010) ·
Indus Biotherapeutics Limited (w.e.f. 01.12.2010) |
|
|
|
|
Subsidiaries : |
·
Andre Laboratories Limited ·
CIN No: U24231GJ1973PLC040442 ·
Indus Biothrapeutics Limited ·
Accord Healthcare Limited ·
CIN No: U24231GJ2003PLC041866 ·
Accord Healthcare Limited, UK ·
Accord Healthcare Limited ·
Accord Healthcare INC. Canada ·
Accord Farmaceutica Ltda., Brazil ·
Accord Farma Sade CV Mexico ·
Accord Healthcare SAC Peru ·
Accord Health Care Inc. NJ, USA ·
Accord Healthcare NZ Limited, New Zealand ·
Accord Healthcare Pty. Limited, South Africa ·
Accord Healthcare Inc. [U.S.A.], North
Carolina ·
Astron Research Limited (From 1st
December, 2008) ·
Intas Pharma Limited ·
Intas Pharmaceuticals (Partnership Firm) ·
Intas Medi Devices Limited |
|
|
|
|
Step-down
Subsidiary : |
·
Accord Healthcare Pty. Limited, Australia ·
Accord Healthcare SAS, France ·
Accord Healthcare BV, Netherlands ·
Astron Research Limited, UK ·
Accord Healthcare Italia SRL, Italy ·
Accord Healthcare Sociedad Limitada, Spain ·
Accord Healthcare Polska Spolka Z Ograniczona |
CAPITAL STRUCTURE
After 12.08.2011
Issued, Subscribed & Paid-up Capital : Rs.1103.751 Millions
AS ON 12.08.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125000000 |
Equity Shares |
Rs.10/- each |
Rs.1250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
103476698 |
Equity Shares |
Rs.10/- each |
Rs.1034.767
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 |
1038.767 |
518.683 |
517.383 |
|
|
2] Share Capital Suspense |
0.000 |
0.000 |
1.300 |
|
|
3] Reserves & Surplus |
8284.738 |
5831.406 |
3876.216 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
9323.505 |
6350.089 |
4394.899 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
5758.897 |
3564.092 |
2802.066 |
|
|
2] Unsecured Loans |
3143.003 |
465.926 |
1281.417 |
|
|
TOTAL BORROWING |
8901.900 |
4030.018 |
4083.483 |
|
|
DEFERRED TAX LIABILITIES |
223.730 |
241.069 |
330.207 |
|
|
|
|
|
|
|
|
TOTAL |
18449.135 |
10621.176 |
8808.589 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2266.027 |
2194.257 |
2191.313 |
|
|
Capital work-in-progress |
865.304 |
414.241 |
204.062 |
|
|
|
|
|
|
|
|
INVESTMENT |
6505.105 |
2769.248 |
2107.628 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3505.340
|
2475.655
|
2119.538
|
|
|
Sundry Debtors |
3924.506
|
2992.566
|
1891.272
|
|
|
Cash & Bank Balances |
175.127
|
190.859
|
155.045
|
|
|
Other Current Assets |
815.830
|
413.027
|
0.000
|
|
|
Loans & Advances |
4559.797
|
2777.540
|
2338.993
|
|
Total
Current Assets |
12980.600
|
8849.647
|
6504.848
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1766.314
|
2149.094
|
1444.556
|
|
|
Other Current Liabilities |
1909.001
|
1043.272
|
616.516
|
|
|
Provisions |
516.974
|
413.851
|
138.190
|
|
Total
Current Liabilities |
4192.289
|
3606.217
|
2199.262
|
|
|
Net Current Assets |
8788.311
|
5243.430
|
4305.586
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
24.388 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
18449.135 |
10621.176 |
8808.589 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
19257.632 |
16092.523 |
11562.036 |
|
|
|
Share of profit from partnership firm |
0.000 |
0.000 |
767.796 |
|
|
|
Other Income |
408.292 |
321.161 |
217.627 |
|
|
|
TOTAL (A) |
19665.924 |
16413.684 |
12547.459 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
9451.340 |
7974.391 |
|
|
|
|
Manufacturing service costs |
380.327 |
290.587 |
|
|
|
|
Employee related expenses |
1333.522 |
1159.405 |
|
|
|
|
Administrative selling other expenses |
4734.094 |
4120.493 |
|
|
|
|
TOTAL (B) |
15899.283 |
13544.876 |
10825.589 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3766.641 |
2868.808 |
1721.870 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES/ INTEREST (D) |
419.576 |
312.347 |
229.551 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3347.065 |
2556.461 |
1492.319 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
269.346 |
244.541 |
202.588 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3077.719 |
2311.920 |
1289.731 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
262.480 |
235.876 |
130.022 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H)
(I) |
2815.239 |
2076.044 |
1159.709 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1966.874 |
1310.000 |
NA |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
1990.526 |
1472.152 |
NA |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2791.587 |
1966.874 |
1310.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
FOB value of goods exported |
NA |
|
3161.475 |
|
|
|
Profit from overseas joint ventures |
|
|
30.167 |
|
|
|
Income from sales of license |
|
|
40.892 |
|
|
|
Others |
|
|
6.546 |
|
|
TOTAL EARNINGS |
NA |
NA |
3239.080 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
|
749.760 |
|
|
|
Capital Goods |
|
|
147.514 |
|
|
|
Others |
|
|
31.366 |
|
|
TOTAL IMPORTS |
NA |
NA |
928.640 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
43.65 |
40.13 |
23.98 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover |
|
|
26044.800 |
Expected Sales (2012-2013) : Rs.30000.000 Millions
The above information has been parted by Mr. Pruthvi.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
14.32 |
12.65
|
9.24 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
15.98 |
14.37
|
11.15 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.19 |
20.93
|
14.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33 |
0.36
|
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.40 |
1.20
|
1.43 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.10 |
2.45
|
2.96 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITOR
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors
|
|
|
|
|
-
Due Small Micro Enterprises |
10.503 |
8.695 |
|
|
-
Due Others |
1755.811 |
2140.399 |
|
|
Total |
1766.314 |
2149.094 |
1444.556 |
|
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 |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
|
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 |
PERFORMANCE REVIEW
The company is
currently ranked as the 13th largest pharmaceutical company in India in terms
of market share, based on domestic sales of formulations. (Source: IMS March
2011.) They are present in various major therapy areas such as those relating
to neurology, psychiatry, cardiology, pain management, gastroenterology,
diabetology, nephrology, urology, anti-infective therapy, dermatology,
gynecology, respiratory system and ophthalmology with a strong focus on chronic
therapy areas relating to neurology, psychiatry, cardiology and diabetology.
They are the sixth
largest player in chronic therapy areas with a 4.7% market share. (Source: IMS,
March 2011.) They have recently extended our presence into therapy areas such
as those relating to gynecology, infertility, arthritis and the respiratory
system. They have also been present in the veterinary medicines business since
1997.
During the year,
the company has achieved sales of Rs. 17595.202 Millions as compared to Rs.
14926.302 Millions in the previous year representing a growth of 18%.
The PBIDT
increased by 31 % to Rs. 3766.643 Millions. The PBT was higher by 33% to Rs.
3077.721 Millions. The Net Profit increased to Rs. 2815.241 Millions up by 36% as
compared to Rs. 2076.044 Millions in year 2009-10. The Earnings Per Share for
the year was Rs. 43.65 Per Share as against Rs. 40.13 Per Share calculated on
the enhanced capital after the issue of Bonus shares in the previous year.
DOMESTIC BUSINESS
In this fragmented
domestic pharmaceutical market, the company has achieved a domestic turnover of
Rs. 11759.100 Millions as compared to Rs. 9726.605 Millions in the previous
year representing a growth of 21%.
In the domestic
market the company currently focuses on growth-oriented therapy areas such as
neurology, psychiatry, cardiology, diabetology, gastroenterology, urology,
nephrology, oncology, pain management, dermatology and ophthalmology. The
company enjoys considerable market penetration within certain of these therapy
areas, which they believe enables us to generate sustainable revenues. Our rank
in India for prescription share amongst psychiatrists and neurologists is
second, whereas they ranked third amongst nephrologists and fifth position
amongst urologists and gastroenterologists. (Source: Prescription audit data
published by CMARC, March-June 2010.) The company continually evaluates its
product basket and focuses on introducing newer formulations in relation to our
existing and new therapy areas.
The top brands of
the company in the major Therapeutic areas are as under :
|
Top brand group |
Therapy areas |
|
Zoryl Group |
Anti Diabetic |
|
Ceftas Group |
Anti-infectives |
|
Hifenac Group |
Pain/Analgesics |
|
Amtas Group |
Cardiovascular/CVS |
|
Lipicure Group |
Cardiovascular |
|
Veltam Group |
Others/Urology |
|
Rabium Group |
Gastrointestinal |
|
Clavix Group |
Cardiovascular/CVS |
|
Valprol Group |
Neurology/Psychiatry |
|
Levera |
Neurology/Psychiatry |
INTERNATIONAL
BUSINESS
The company has
diversified its business operations geographically. They have focused on
broadening their revenue base to cover India as well as the international
markets. Within international markets, they are present in both regulated and
semi-regulated markets. Their international pharmaceutical sales contributed
Rs. 58361.02 lacs of their sales for fiscal 2011 which represent 12 % growth
over the previous year . They have extended their operations across various
countries and believe that this diversification allows us to maintain a
targeted approach towards international markets while simultaneously reducing
regulatory and other risks during adverse market conditions or risks arising
from concentration in any single jurisdiction.
Internationally,
their products are marketed in over 50 countries, including in major regulated
markets such as the United States and Europe through their own marketing and
distribution network as well as by entering into alliances with leading global
pharmaceutical companies that have significant experience in these markets.
They have established marketing infrastructure in countries such as the United
States, the U.K., the Netherlands, Germany, Spain, France, Italy, Brazil,
Mexico, Canada, Australia and South Africa to market their own pharmaceutical
formulations. Their products are sold through leading distributors and retail
pharmacy chains across the United States. In addition to marketing their own
formulations, they also market their dossiers and have entered into long-term
supply agreements with global pharmaceutical manufacturers.
In May 2010 their
company entered in to licensing and supply agreement with AstraZeneca in terms
of which AstraZeneca will exclusively source ontological products from their
facility in Matoda. They have also entered in to over 100 out licensing
arrangements and long term supply agreements with several global
Pharmaceuticals companies
CONTINGENT LIABILITY:
(Rs. In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
Custom Duty Liability under EPCG and Advance Licence Scheme |
77.257 |
44.059 |
|
Export Commitments |
31.847 |
72.034 |
|
|
|
|
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U24231GJ1985PLC007866 |
|
Name of the company |
INTAS PHARMACEUTICALS LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
2nd Floor, Chinubhai Centre, Off Nehru Bridge, Ashram Road,
Ahmedabad-380 009, Gujarat, India E-mail: manoj_nair@intaspharma.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10236319 |
|
Type of charge |
Immovable property |
|
Particular of charge holder |
HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel
West, Mumbai – 400013, Maharashtra, India E-Mail : vishal.kothari@hdfcbank.com
|
|
Nature of instrument creating charge |
Memorandum of entry |
|
Date of instrument Creating the charge |
31.03.2011 |
|
Amount secured by the charge |
Rs.300.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest 9.25% pa linked to SBI BPLR with put/call option at the end of 2nd and
3rd year Terms of Repayment 4 years moratorium and repayable in 12 equal quarterly installments Margin As per bank's sanction Extent and Operation of the charge All the properties described in column no. 15 have been mortgaged to
the bank by way of first pari passu charge, inter alia, in order to further
secure financial assistance of Rs. 3000 lacs, plus interest, additional
interest, penal interest etc. granted to Intas Pharmaceuticals (Firm) |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Land at Khasra No. 1034, 1035,
1050 / 1, 1036, 1042, 1043 and 1041 at village Central Hope town, Pargana Pachwa
Doon, Tehsil Vikasnagar, District Dehradun with all buildings, structure,
Plant and Machinery attached to the earth. |
|
Date of instrument modifying the charge |
30.03.2011 |
|
Particulars of the present modification |
By virtue of the said modification, the said charge is now further
secured by way of Mortgage of additional Immovable Properties situated at Village Central Hope Town,
Pargana Pancha Doon, Tehsil Vikasnagar District Dehradun in order to further
secure the financial assistance granted to Intas Pharmaceuticals (Firm). The
amount covered under the charge remains unchanged as Rs. 300.000 Millions. |
FIXED
ASSETS
·
Land
·
Building
·
Plant
and machinery
·
Furniture
and Fixture
·
Office
equipment
·
Vehicle
·
Computers
·
Technical
Knowhow
·
GCSF,
EPO-License and Commercial Rights
AS PER WEBSITE DETAILS:
MILESTONES:
Some of the major
landmarks in Intas' journey so far
1976 Intas
Vatva unit set up by their founder - Hasmukh Chudgar
1980 Incorporated
and moved ahead with the concept of ethical promotion
1984 Started
all
1989 Established
Gastroenterology division with the launch of Ciza
1995 Set
up an ultra modern manufacturing facility at Matoda
1996 Secured
MHRA and TGA approvals for the Matoda facility
1998 Forayed
into Cardiology and Diabetology with the launch of Suprima Division
2000 Expansion
of the Matoda factory to cater to its ever growing needs
2004 Intas attained the
position of the fastest growing pharmaceutical company in
companies (Source:
ORG IMS Report)
2005 Launch
of 1st bio-pharmaceutical formulation in Oncology "Neukine" from
·
Received
the award of "fastest growing mid-sized company" by Express Pharma
Pulse
·
Grossed
Rs. 1000 Mn turnover from European operations
·
Commenced
production of cytotoxic products at Matoda
2006 Commenced
commercial production at the Dehradun manufacturing facility
·
Accomplished
backward integration process by starting API production
2007 Intas’
manufacturing facility at Matoda received USFDA accreditation
Subsidiaries
Accord Healthcare
Limited
Accord Healthcare Limited, is the offshore identity of
Intas. A marketing arm of Intas, Accord is engaged in all the licensing related
activities and pharmaceutical product trading in the regulatory markets. The
company leverages the manufacturing support from Intas. Accord Healthcare has
its global matrix spread to
Astron Research Limited
Conceptualized with the objective of shaping the future of
drug development, Astron Research Limited is a leading Pharmaceutical
formulation research and development organization accredited by USFDA. It also
has an MHRA approved testing laboratory in
Intas Biopharmaceuticals Limited
Intas Biopharmaceuticals Limited (IBPL), is one of the front
runners in the biopharmaceuticals sector in
Intas Medi Devices Limited
Intas Medi Devices Limited is a subsidiary company of Intas
Pharmaceutical Limited which was formed as a result of a marketing tie up with
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.57.22 |
|
|
1 |
Rs.89.42 |
|
Euro |
1 |
Rs.71.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
PJA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
60 |
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.