MIRA
INFORM REPORT
|
Report Date : |
24.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
KOPRAN LIMITED |
|
|
|
|
Registered
Office : |
Parijat House 1076, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
26.04.1958 |
|
|
|
|
Com. Reg. No.: |
11-011078 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.476.289 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24230MH1958PLC011078 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK01878C |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchange. |
|
|
|
|
Line of Business
: |
Manufacturing and Marketing of Bulk Drugs, Tablets and
Capsules and Liquids. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4600000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record.
The performance capacity of the company is improving. Trade relations are
reported to be fair. Business is active. Payments are reported to be usually correct
and as per commitment. The company can be considered for business dealing at usual trade
terms and condition. |
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces of
its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country’s growth, which has averaged more than 7% per
year since 1997. India’s diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India’s output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to become
a major exporter of information technology services and software workers. In
2010, the Indian economy rebounded robustly from the global financial crisis –
in large part because of strong domestic demand – and growth exceeded 8%
year-on-year in real terms. However, India’s economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government’s fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India’s medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = BB |
|
Rating Explanation |
Having moderate risk of default regarding timely servicing of
financial obligation. |
|
Date |
November 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
Parijat House, 1076, Dr. E. Moses Road, Worli, Mumbai-400018, Maharashtra, India |
|
Tel. No.: |
91-22-24964480-85/43661111 |
|
Fax No.: |
91-22-24950363 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Finished
Dosage Forms : KHOPOLI
Village Savroli, Taluka Khalapur, Khopoli, District Raigad – 410202, Maharashtra, India |
|
Tel. No : |
91-2192-274500 |
|
Fax No : |
91-2192-274025 |
|
Email : |
|
|
|
|
|
Factory 2 : |
API
Unit
K-4, Additional MIDC, Village Birwadi, Mahad – 403201 District Raigad, Maharashtra, India |
|
Tel. No : |
91-2145-251101-04 |
|
Fax No : |
91-2145-251100 |
|
Email : |
DIRECTORS
As on 31.03.2012
|
Name : |
Mr. Susheel G Somani |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Surendra Somani |
|
Designation : |
Executive Vice-Chairman |
|
|
|
|
Name : |
Dr. Suresh K. Parikh |
|
Designation : |
Director (resigned w.e.f. 13th July, 2012) |
|
|
|
|
Name : |
Mr. Vishnu Narayan Khanna |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. A. K. Mehta |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Ajit Jain |
|
Designation : |
Director and Chief Operating Officer (w.e.f 01.02.2010) |
|
Qualification : |
B.COM (Chartered Accountant) |
|
|
|
|
Name : |
Mr. Amit Rajan |
|
Designation : |
Director (Appointed w.e.f. 13th July, 2012) |
KEY EXECUTIVES
|
Name : |
Mr. Abhinav Mathur |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2012
|
Names
of Shareholders |
No. of Shares |
Percentage of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
4922800 |
12.61 |
|
|
7964203 |
20.40 |
|
|
12887003 |
33.00 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
12887003 |
33.00 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
500 |
0.00 |
|
|
1040343 |
2.66 |
|
|
300 |
0.00 |
|
|
1041143 |
2.67 |
|
|
|
|
|
|
5513504 |
14.12 |
|
|
|
|
|
|
10974942 |
28.11 |
|
|
7852390 |
20.11 |
|
|
780494 |
2.00 |
|
|
4500 |
0.01 |
|
|
70285 |
0.18 |
|
|
705709 |
1.81 |
|
|
25121330 |
64.33 |
|
Total Public shareholding (B) |
26162473 |
67.00 |
|
Total (A)+(B) |
39049476 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
39049476 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Marketing of Bulk Drugs, Tablets and
Capsules and Liquids. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
|
Bulk Durg |
|
|
Formulations |
|
|
Particulars |
Unit |
Installed* Capacity |
Actual** Production |
Unit |
Installed* Capacity |
Actual** Production |
|
KHOPOLI |
|
|
|
|
|
|
|
Tablets and
Capsules/ Injection |
-- |
-- |
-- |
No. in lacs |
10800.00 |
10385.38 |
|
|
|
|
|
|
|
|
|
Liquids |
-- |
-- |
-- |
Ltrs in lacs |
12.00 |
5782 |
|
MAHAD |
|
|
|
|
|
|
|
Bulk Drug |
Tons |
495.00 |
274.663 |
|
-- |
-- |
Note:
* Installed
capacity is based on 3 shifts working as certified by management.
** Actual
Production includes production at loan licensee locations, samples, captive consumption
‘but excluding production for others on job.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
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|
Bankers : |
· State Bank of India · The Federal Bank Limited ·
Canara Bank |
||||||||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Batliboi and Purohit Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
|
|
|
Wholly Owned
Subsidiary : |
· Kopran Research Laboratories Limited · Kopran (H.K) Limited · Kopran Lifesciences Limited |
|
|
|
|
Under Common
Control : |
Oricon Enterprises Limited Oricon Properties Private Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
56250000 |
Equity Shares |
Rs.10/- each |
Rs.562.500 Millions |
|
13750000 |
Non-Convertible Cumulative Redeemable Preference Shares |
Rs.10/- each |
Rs.137.500 Millions |
|
|
Total |
|
Rs.700.000
Millions |
Issued:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
39052602 |
Equity Shares |
Rs.10/- each |
Rs.390.526 Millions |
|
8580000 |
10% Non-Convertible Cumulative Redeemable Preference Shares |
Rs.10/- each |
Rs.85.800
Millions |
|
|
Total |
|
Rs.476.326 Millions |
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
39052602 |
Equity Shares |
Rs.10/- each |
Rs.390.526
Millions |
|
|
Less : Calls in Arrears |
|
Rs.0.037
Millions |
|
8580000 |
10% Non-Convertible Cumulative Redeemable
Preference Shares |
Rs.10/- each |
Rs.85.800
Millions |
|
|
Total |
|
Rs.476.289 Millions |
a) Terms / Rights attached to equity shares
The Company has only one class of equity shares having a par value of Rs.10/- per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividends in Indian rupees.
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in the proportion to the number of equity shares held by the shareholders.
b) Terms of redemption of preference shares
55,80,000 10% Non Convertible Non Cumulative Redeemable Preference Shares of Rs.10 each are redeemable at par on 15th March, 2025 or at any time after one year from 31st March, 2012 at the option of the company.
10,00,000 10% Non Convertible Non Cumulative Redeemable Preference Shares of Rs.10 each are redeemable at par on 28th June, 2019 or at any time after one year from 31st March, 2012 at the option of the company.
20,00,000 10% Non Convertible Non Cumulative Redeemable Preference Shares of Rs.10 each are redeemable at par on 22nd June, 2019 or at any time after one year from 31st March, 2012 at the option of the company.
c) Shares held by holding/ultimate holding
company and/or their subsidiaries/associates
None of the shares of the Company are held by the Subsidiaries, Associates or Joint Ventures of the Company.
d) Details of shareholders holding more than
5% shares in the company
|
Particular |
Number of |
% holding |
|
Equity Shares of
Rs.10/- each fully paid |
|
|
|
Ponorama Finvest Private Limited |
3,800,000 |
9.73% |
|
Sarvamangal Mercantile Company Limited |
2,167,956 |
5.55% |
|
10% Non Convertible
Non Cumulative Redeemable Preference Shares of Rs.10 each |
|
|
|
S.V Trading and Agencies Limited |
-- |
-- |
|
Canara Bank |
-- |
-- |
|
Bajaj Holdings and Investment Limited |
-- |
-- |
|
Sarvamangal Mercantile Company Limited |
5,580,000 |
65.00% |
|
Kopran Laboratories Limited |
1,000,000 |
12.00% |
|
Susheel G. Somani and Mridula Somani |
1,200,000 |
14.00% |
|
Mohit Kabra |
800,000 |
9.00% |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
476.289 |
476.289 |
456.789 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
684.192 |
622.516 |
568.485 |
|
|
4] Convertible Warrants |
0.000 |
0.000 |
4.875 |
|
|
5] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1160.481 |
1098.805 |
1030.149 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
366.109 |
378.998 |
337.522 |
|
|
2] Unsecured Loans |
591.006 |
658.261 |
761.459 |
|
|
TOTAL BORROWING |
957.115 |
1037.259 |
1098.981 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2117.596 |
2136.064 |
2129.130 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1116.022 |
1121.102 |
1181.134 |
|
|
Capital work-in-progress |
0.000 |
0.400 |
2.546 |
|
|
|
|
|
|
|
|
INVESTMENT |
68.710 |
68.710 |
103.860 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
351.470
|
321.112 |
261.588
|
|
|
Sundry Debtors |
375.162
|
333.632 |
291.960
|
|
|
Cash & Bank Balances |
70.651
|
7.459 |
46.747
|
|
|
Other Current Assets |
0.000
|
0.000 |
56.263
|
|
|
Other Non-Current Assets |
24.504
|
26.637 |
0.000 |
|
|
Loans & Advances |
787.550
|
779.445 |
693.626 |
|
Total
Current Assets |
1609.337
|
1468.285 |
1350.184 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
417.092
|
306.406 |
412.751
|
|
|
Other Current Liabilities |
226.914
|
186.121 |
69.016
|
|
|
Provisions |
32.467
|
29.906 |
26.827
|
|
Total
Current Liabilities |
676.473
|
522.433 |
508.594 |
|
|
Net Current Assets |
932.864
|
945.852 |
841.590
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2117.596 |
2136.064 |
2129.130 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1989.054 |
1923.783 |
1642.869 |
|
|
|
Other Income |
55.624 |
63.814 |
19.448 |
|
|
|
TOTAL (A) |
2044.678 |
1987.597 |
1662.317 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1194.559 |
1299.572 |
|
|
|
|
Purchase of Traded goods |
4.273 |
27.980 |
|
|
|
|
Changes in inventories of finished goods and work in progress |
69.833 |
-84.837 |
1389.592 |
|
|
|
Employee benefit expense |
175.197 |
173.404 |
|
|
|
|
Other expenses |
328.357 |
321.729 |
|
|
|
|
TOTAL (B) |
1772.219 |
1737.848 |
1389.592 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
272.459 |
249.749 |
272.725 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
96.627 |
86.089 |
61.794 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
175.832 |
163.660 |
210.931 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
114.157 |
112.333 |
111.557 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
61.675 |
51.327 |
99.374 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
(2.705) |
(0.356) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
61.675 |
54.032 |
99.730 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
1235.200 |
1139.751 |
1006.584 |
|
|
TOTAL EARNINGS |
1235.200 |
1139.751 |
1006.584 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
502.862 |
514.871 |
432.187 |
|
|
|
Capital Goods |
3.406 |
9.650 |
4.251 |
|
|
TOTAL IMPORTS |
506.268 |
524.521 |
436.438 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
- Basic |
1.58 |
1.32 |
0.80 |
|
|
|
- Diluted |
1.58 |
1.32 |
0.77 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
30.06.2012 |
30.09.2012 |
|
|
|
1st
Quarter |
2nd
Quarter |
|
Net Sales |
|
510.000 |
647.300 |
|
Total Expenditure |
|
434.100 |
561.220 |
|
PBIDT (Excl OI) |
|
75.900 |
86.080 |
|
Other Income |
|
6.000 |
4.520 |
|
Operating Profit |
|
81.900 |
90.600 |
|
Interest |
|
27.200 |
28.100 |
|
Exceptional Items |
|
0.000 |
0.000 |
|
PBDT |
|
54.700 |
62.500 |
|
Depreciation |
|
29.600 |
30.200 |
|
Profit Before Tax |
|
25.100 |
32.300 |
|
Tax |
|
0.000 |
0.000 |
|
Provisions and contingencies |
|
0.000 |
0.000 |
|
Profit After Tax |
|
25.100 |
32.300 |
|
Extraordinary Items |
|
0.000 |
0.000 |
|
Prior Period Expenses |
|
0.000 |
0.000 |
|
Other Adjustments |
|
0.000 |
0.000 |
|
Net Profit |
|
25.100 |
32.300 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.02
|
2.72 |
6.00
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.10
|
2.67 |
6.05
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.26
|
1.98 |
3.93
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.05 |
0.10
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.41
|
1.42 |
1.56
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.38
|
2.81 |
2.65
|
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
No |
|
8] |
No. of employees |
No |
|
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 (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
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 |
No |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
FINANCIAL PERFORMANCE
STANDALONE
The company achieved total revenue of Rs.2044.678 Millions in the current year as against total revenue of Rs.1987.597 Millions in the previous year. During the year, the company earned net profit to Rs.61.675 Millions (Previous Year: Rs.54.032 Millions), thus achieving a growth of 14% in profits.
MANAGEMENT DISCUSSION
AND ANALYSIS
INDUSTRIAL OVERVIEW
The Pharmaceutical Industry continues to grow globally in the Generic segment. India has been ranked very high amongst all the third world countries and is the most preferred country for sourcing for the Regulated markets like the US and Europe. It is estimated to grow to Rs. 2.5 lac crores by the year 2015 providing a great opportunity to the Indian Pharmaceutical Industry
CONTINGENT
LIABILITIES NOT PROVIDED FOR IN RESPECT OF
Rs. In Millions
|
Particular |
31.03.2012 |
31.03.2011 |
|
i) Guarantees given by the Company's bankers on behalf of the Company |
5.731 |
9.709 |
|
ii) Bills discounted with Banks |
337.850 |
207.223 |
|
iii) Disputed Tax Matters |
|
|
|
(a) Sales Tax demand disputed in appeal |
-- |
3.913 |
|
(b) Service Tax demand disputed in appeal |
3.295 |
9.398 |
|
(c) Excise Duty demand disputed in appeal |
3.782 |
1.377 |
|
(d)
Demand under Drug Price Control Order - 95 (
DPCO - 95 ) |
59.134 |
59.134 |
|
iv) Claims against the Company not acknowledged as debts: |
- |
86.883 |
UNAUDITED FINANCIAL
RESULTS (PROVISIONAL) FOR QUARTER ENDED 30th JUNE,2012
Rs. In Millions
|
Particulars |
Quarter Ended 30.06.2012 Unaudited |
|
Income from
Operations |
|
|
Net Sales / Income from Operations |
496.800 |
|
Other Operating Income |
13.200 |
|
Total Income from
operations |
510.000 |
|
Expenses |
|
|
Changes in Inventories of Finished Goods, Work-in- Progress and stocks- in-trade |
(44.400) |
|
Cost of Materials Consumed |
348.200 |
|
Purchase of Stock- in - trade |
- |
|
Employee Benfits Expenses |
41.700 |
|
Depreciation |
29.600 |
|
Other Expenses |
88.600 |
|
Total Expenses |
463.700 |
|
Profit /(Loss) from
operations before other income, Interest and exceptional items |
46.300 |
|
Other Income |
6.000 |
|
Profit /(Loss) before
Interest and exceptional items |
52.300 |
|
Interest |
27.200 |
|
Profit / (Loss)
before exceptional items |
25.100 |
|
Exceptional items |
- |
|
Profit / ( Loss ) before tax |
25.100 |
|
Less :Tax expenses |
- |
|
Net Profit for the
period |
25.100 |
|
Paid up equity share Capital (Face value Rs 10/-) |
390.500 |
|
Reserves excluding revaluation reserve as per balance sheet of previous accounting year |
- |
|
Earning Per Share ( EPS ) before and after exceptional item |
|
|
a) Basic |
0.64 |
|
b) Diluted |
0.64 |
|
|
|
|
(A) PARTICULARS OF
SHAREHOLDING |
|
|
Public shareholding |
|
|
Number of shares |
25,809,523 |
|
Percentage of shareholding |
66.09% |
|
|
|
|
Promoters and
Promoter Group Shareholding |
|
|
a) Pledged / Encumbered |
|
|
Number of shares |
552,500 |
|
Percentage of shares (as a % of the total shareholding of promoter and promoter group) |
4.17% |
|
Percentage of shares (as a % of the total share capital of the company) |
1.42% |
|
|
|
|
b) Non - encumbered |
|
|
Number of shares |
12,687,453 |
|
Percentage of shares (as a % of the total shareholding of the Promoter and Promoter group) |
95.83% |
|
Percentage of shares (as a % of the total share capital of the company) |
32.49% |
|
|
|
|
(B) INVESTOR
COMPLAINTS |
|
|
Pending at the beginning of the quarter |
- |
|
Received during the quarter |
- |
|
Disposed of during the quarter |
- |
|
Remaining unresolved at the end of the quarter |
- |
NOTES :-
(1) The above results were reviewed by the Audit Committee and taken on record by the Board of Directors of the Company at it's meeting held on 14th August, 2012
(2) The Company is engaged primarily in Pharmaceuticals business and there are no separate reportable segments as per AS-17.
(3) Auditors observation:
a) Investments and Advances made to Subsidiary Company, Kopran Research Laboratories Limited (KRLL) as at 30-06-2012 amounting to Rs.519.238 Millions, (as at 30-06-2011, Rs.538.322 Millions) are, in the opinion of the Auditors, doubtful of realisation. In the opinion of the Management, no provision is required to be made because the investment in the Subsidiary Company, KRLL, is long term, for strategic reasons.
(4) Other Income includes exchange gain of Rs.1.398 Millions during the quarter ended 30th June,2012(quarter ended 30th June,2011, Rs.15.685 Millions) and interest income of Rs.4.388 Millions.(quarter ended 30th June,2011 ,Rs.4.179 Millions)
(5) Figures for the previous accounting period have been regrouped wherever necessary.
FIXED ASSETS
·
Leasehold Land
·
Freehold Land
·
Buildings
·
Plant and Machinery
·
Factory Equipments and
Electric Installation
·
Furniture and Fixtures
·
Tube Well
·
Office Equipments
·
Computers
·
Vehicles
AS PER WEBSITE DETAILS
PROFILE
Kopran is the group company of Parijat Enterprises.
Subject is currently an integrated
Pharmaceutical Company manufacturing a large range of products. It
manufactures both Active Pharmaceutical Ingredients and Finished Dosage Forms.
Subject products are registered globally and
its facilities match best of international standards and are
approved by various Regulatory authorities.
Subject is focused on improvement in technology and new products duly
integrated through their sophisticated Research and Development department.
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 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 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.55.34 |
|
|
1 |
Rs.88.30 |
|
Euro |
1 |
Rs.71.37 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
42 |
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.