MIRA INFORM REPORT
|
Report Date : |
03.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
CALYX CHEMICALS AND PHARMACEUTICALS LIMITED (w.e.f. 08.09.2006) |
|
|
|
|
Formerly Known
as : |
CALYX CHEMICALS AND PHARMACEUTICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No. 110,
Marwah Complex, Krishnalal Marwah Marg, Off Saki Vihar Road, Andheri (East),
Mumbai – 400072, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
14.01.1986 |
|
|
|
|
Com. Reg. No.: |
11-038618 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.159.332
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24220MH1986PLC038618 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC07976D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCC1457B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Bulk Drugs and Intermediates. |
|
|
|
|
No. of Employees
: |
500 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5400000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track. General financial
position of the company is good. Trade relations are reported as fair.
Business is active. Payments are reported to be regular and as per
commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
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 : |
Unit No. 110, Marwah
Complex, Krishnalal Marwah Marg, Off Saki Vihar Road, Andheri (East), Mumbai
– 400072, Maharashtra, India |
|
Tel. No.: |
91-22-28571191 |
|
Fax No.: |
91-22-66466416 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Located at Tarapur, Maharashtra, India |
|
|
|
|
Head Office / Corporate Office : |
A-37/38, MIDC, Phase 1, Golavli, Kalyan Shil Road, Dombivali (East),
Near Vicconaka, Thane – 421 203, Maharashtra, India |
|
Tel. No.: |
91-251-2438310/ 6698300 |
|
Fax No.: |
91-251-2438726 |
|
|
|
|
Representative
Office : |
Calyx
International Division (USA) |
|
Tel. No.: |
+1-213-291-7773 |
|
Fax No.: |
+1-775-514-1230 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Overseas Office : |
SingInd Life
Sciences Pte. Limited 371, |
|
Tel. No.: |
+61-6296 4041 |
|
Fax No.: |
+65-6242 3956 |
DIRECTORS
AS ON 19.07.2012
|
Name : |
Mr. Smitesh Chandravadan Shah |
|
Designation : |
Managing Director |
|
Address : |
B-403, Eden – III, Hiranadani Grdens, Powai, Mumbai-400076, |
|
Date of Birth/Age : |
28.04.1959 |
|
Date of Appointment : |
01.04.1995 |
|
PAN No.: |
AMUPS4238C |
|
DIN No.: |
00019720 |
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 |
U24220MH1986PLC038618 |
CALYX
CHEMICALS AND PHARMACEUTICALS LIMITED |
Managing
director |
01/04/2010 |
01/04/1995 |
Active |
NO |
|
2 |
U18101MH1993PTC072347 |
TOP
BRASS GIFTS PRIVATE LIMITED |
Director |
17/04/1995 |
17/04/1995 |
Active |
NO |
|
3 |
U72200MH2000PTC124247 |
NOBLE
STRATEGIES INTERNATIONAL PRIVATE LIMITED |
Director |
15/02/2000 |
15/02/2000 |
Dormant |
NO |
|
4 |
U24239AP2004NPL043058 |
PHARMACEUTICALS
EXPORT PROMOTION COUNCIL OF INDIA |
Director |
13/04/2004 |
13/04/2004 |
Active |
NO |
|
Name : |
Mr. Bharat Sukhlal Mehta |
|
Designation : |
Director |
|
Address : |
21, Nibbana Pali Hill, Bandra (West), Mumbai-400050, |
|
Date of Birth/Age : |
05.01.1938 |
|
Date of Appointment : |
01.04.1995 |
|
PAN No.: |
AAAPM7952K |
|
DIN No.: |
00038165 |
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 |
U24220MH1986PLC038618 |
CALYX
CHEMICALS AND PHARMACEUTICALS LIMITED |
Director |
31/03/2010 |
01/04/1995 |
- |
Active |
NO |
|
2 |
U18101MH1993PTC072347 |
TOP
BRASS GIFTS PRIVATE LIMITED |
Director |
17/04/1995 |
17/04/1995 |
- |
Active |
NO |
|
3 |
U45200MH1995PTC091114 |
ROYAL
BUILDMAT INDIA PRIVATE LIMITED |
Director |
28/07/1995 |
28/07/1995 |
27/02/2010 |
Dormant |
NO |
|
4 |
U72200MH2000PTC124247 |
NOBLE
STRATEGIES INTERNATIONAL PRIVATE LIMITED |
Director |
15/02/2000 |
15/02/2000 |
- |
Dormant |
NO |
|
Name : |
Mr. Rajat Indulal Doshi |
|
Designation : |
Director |
|
Address : |
1 E, Dil Pazir, |
|
Date of Birth/Age : |
13.10.1958 |
|
Date of Appointment : |
23.04.2009 |
|
PAN No.: |
AABPD9790M |
|
DIN No.: |
02423171 |
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 |
U72200MH1983PTC031468 |
ADAGE
SYSTEMS PRIVATE LIMITED |
Director |
02/12/1983 |
02/12/1983 |
- |
Strike
off |
NO |
|
2 |
U32200MH1982PTC028754 |
SPECTRA
VIDEO PRIVATE LIMITED |
Director |
09/04/1984 |
09/04/1984 |
- |
Under
liquidation |
NO |
|
3 |
U45200MH1995PTC091114 |
ROYAL
BUILDMAT INDIA PRIVATE LIMITED |
Director |
01/01/1996 |
01/01/1996 |
27/02/2010 |
Dormant |
NO |
|
4 |
U24220MH1986PLC038618 |
CALYX
CHEMICALS AND PHARMACEUTICALS LIMITED |
Director |
30/09/2009 |
23/04/2009 |
- |
Active |
NO |
|
5 |
AAA-1878 |
MSD
TRADING LLP |
Designated
Partner |
26/07/2010 |
26/07/2010 |
- |
Active |
NO |
|
Name : |
Mr. Jambunathan Sirnivasa Iyer |
|
Designation : |
Director |
|
Address : |
9, Prakash Co-Operative Housing Society, Relief Road, Daulat Nagar,
Santacruz, Mumbai-400024, |
|
Date of Birth/Age : |
01.05.1938 |
|
Date of Appointment : |
26.11.2011 |
|
DIN No.: |
00063729 |
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 |
L27102MH1994PLC152925 |
JSW
STEEL LIMITED |
Nominee
director |
09/05/2005 |
09/05/2005 |
15/05/2008 |
Active |
NO |
|
2 |
L65990MH1995PLC089838 |
INVENTURE
GROWTH AND SECURITIES LIMITED |
Director |
06/09/2008 |
29/07/2008 |
- |
Active |
NO |
|
3 |
L99999MH1949PLC007039 |
PATEL
ENGINEERING LIMITED |
Director |
31/07/2009 |
30/03/2009 |
- |
Active |
NO |
|
4 |
U74140PN2002PTC017425 |
FIRST
POLICY INSURANCE BROKERS PRIVATE LIMITED |
Director |
24/04/2012 |
10/11/2011 |
- |
Active |
NO |
|
5 |
U24220MH1986PLC038618 |
CALYX
CHEMICALS AND PHARMACEUTICALS LIMITED |
Director |
19/07/2012 |
26/11/2011 |
- |
Active |
NO |
|
Name : |
Mr. Abhay Prafulchandra Desai |
|
Designation : |
Director |
|
Address : |
Flat No. 502, Glen Classic Apartments, Hiranandani Gardens, Powai,
Mumbai-400076, Maharashtra, India |
|
Date of Birth/Age : |
27.06.1962 |
|
Date of Appointment : |
23.03.2010 |
|
DIN No.: |
03016913 |
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 |
U24220MH1986PLC038618 |
CALYX
CHEMICALS AND PHARMACEUTICALS LIMITED |
Director |
27/09/2010 |
23/03/2010 |
Active |
NO |
|
Name : |
Ms. Chhaya Bharat Chakradhar |
|
Designation : |
Director |
|
Address : |
Sangeeta 9, 22 A Linking Road, Extension Santacruz, Mumbai-400054, |
|
Date of Birth/Age : |
09.11.1943 |
|
Date of Appointment : |
23.03.2010 |
|
DIN No.: |
00968966 |
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 |
L99999MH1986PLC040559 |
POOJA
ENTERTAINMENT AND FILMS LIMITED |
Director |
30/09/2006 |
31/12/2005 |
20/11/2007 |
Active |
NO |
|
2 |
U65990MH2006PTC159411 |
CREDILA
FINANCIAL SERVICES PRIVATE LIMITED |
Director |
20/07/2007 |
30/11/2006 |
- |
Active |
NO |
|
3 |
L25200MP2008PLC020852 |
TEXMO
PIPES AND PRODUCTS LIMITED |
Director |
09/09/2009 |
14/08/2008 |
- |
Active |
NO |
|
4 |
L99999MH1969PLC014465 |
ARIES
AGRO LIMITED (CN) |
Director |
17/09/2010 |
29/10/2009 |
- |
Active |
NO |
|
5 |
U24220MH1986PLC038618 |
CALYX
CHEMICALS AND PHARMACEUTICALS LIMITED |
Director |
27/09/2010 |
23/03/2010 |
- |
Active |
NO |
|
6 |
U72200TN2001PLC046643 |
YALAMANCHILI
SOFTWARE EXPORTS LIMITED |
Director |
30/09/2010 |
31/05/2010 |
- |
Active |
NO |
|
Name : |
Ms. Bhumitra Vinodchandra Dholakia |
|
Designation : |
Director |
|
Address : |
B-46/431, MIG Colony, Gandhi Nagar, Bandra East, Mumbai-400051, |
|
Date of Birth/Age : |
03.09.1949 |
|
Date of Appointment : |
23.03.2010 |
|
DIN No.: |
01871816 |
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 |
U74140MH1997PTC106160 |
SHREEJI
ADVISORY SERVICES PRIVATE LIMITED |
Director |
25/08/2008 |
11/02/2008 |
15/03/2010 |
Active |
NO |
|
2 |
U74140MH2008PTC183697 |
MRUGA
CORPORATE SERVICES PRIVATE LIMITED |
Director |
19/06/2008 |
19/06/2008 |
- |
Active |
NO |
|
3 |
U24220MH1986PLC038618 |
CALYX
CHEMICALS AND PHARMACEUTICALS LIMITED |
Director |
27/09/2010 |
23/03/2010 |
- |
Active |
NO |
|
4 |
L28910GJ1977PLC002998 |
RAPICUT
CARBIDES LIMITED |
Director |
24/09/2011 |
15/06/2011 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Devanand P Mojidra |
|
Designation : |
Company Secretary |
|
Address : |
A/504, Kamala Ashish Building, 3 Co-Operative Housing Society Limited,
Mahavir Nagar, Dahanukar Wadi, Kandivali (West), Mumbai-400067, Maharashtra,
India |
|
Date of Birth/Age : |
07.02.1973 |
|
Date of Appointment : |
11.05.2012 |
|
PAN No.: |
AHRPM7047F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 19.07.2012
Note: Shareholder
details file attach.
AS ON 19.07.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
10.20 |
|
Bodies corporate |
2.97 |
|
Directors or relatives of Directors |
75.56 |
|
Others |
11.27 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Bulk Drugs and Intermediates. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS [As on 31.03.2011]
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production* |
|
Active Pharmaceutical Ingredients, Intermediate and Chemicals |
MT |
127463 |
1743 |
NOTE:
- The Installed
capacity has been certified by the management.
- * Includes
outsourced, contract manufactured and bought out goods.
GENERAL INFORMATION
|
No. of Employees : |
500 [Approximately] |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Jatin Shah Chartered Accountant |
|
Address : |
261/263, D N Road, 4th Floor, Mumbai-400001, |
|
Tel. No.: |
91-22-32948140 |
|
Fax No.: |
91-22-22610775 |
|
PAN No.: |
AVVPS9231R |
|
|
|
|
Subsidiaries : |
Singind Life Sciences Pte. Limited |
|
|
|
|
Related Parties : |
|
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs. 300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15933240 |
Equity Shares |
Rs.10/- each |
Rs. 159.332
Millions |
|
|
|
|
|
AS ON 19.07.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs. 300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16413473 |
Equity Shares |
Rs.10/- each |
Rs. 164.135
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 |
159.332 |
135.360 |
135.360 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1187.590 |
780.482 |
587.774 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1346.922 |
915.842 |
723.134 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2242.479 |
1579.865 |
1336.562 |
|
|
2] Unsecured Loans |
239.991 |
295.949 |
293.193 |
|
|
TOTAL BORROWING |
2482.470 |
1875.814 |
1629.755 |
|
|
DEFERRED TAX LIABILITIES |
166.238 |
156.246 |
147.135 |
|
|
|
|
|
|
|
|
TOTAL |
3995.630 |
2947.902 |
2500.024 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1894.661 |
1453.601 |
1250.707 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
134.187 |
|
|
|
|
|
|
|
|
INVESTMENT |
7.602 |
1.020 |
0.820 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1868.138
|
1223.411
|
875.229
|
|
|
Sundry Debtors |
920.727
|
729.227
|
695.553
|
|
|
Cash & Bank Balances |
188.012
|
242.460
|
73.055
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
211.390
|
286.456
|
55.642
|
|
Total
Current Assets |
3188.267
|
2481.554
|
1699.479
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
987.986
|
913.307
|
473.315
|
|
|
Other Current Liabilities |
93.288
|
43.003
|
80.759
|
|
|
Provisions |
48.149
|
50.057
|
31.519
|
|
Total
Current Liabilities |
1129.423
|
1006.367
|
585.593
|
|
|
Net Current Assets |
2058.844
|
1475.187
|
1113.886
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
34.523 |
18.094 |
0.424 |
|
|
|
|
|
|
|
|
TOTAL |
3995.630 |
2947.902 |
2500.024 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4171.774 |
3218.025 |
2350.173 |
|
|
|
Other Income |
14.766 |
48.662 |
45.899 |
|
|
|
TOTAL (A) |
4186.540 |
3266.687 |
2396.072 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
2920.259 |
2304.956 |
|
|
|
|
Manufacturing service costs |
129.274 |
90.202 |
|
|
|
|
Employee related expenses |
114.639 |
99.173 |
1942.127 |
|
|
|
Administrative selling other expenses |
240.177 |
161.720 |
|
|
|
|
Research development expenditures |
22.176 |
14.685 |
|
|
|
|
Prior Period Expenditure |
4.102 |
10.519 |
|
|
|
|
TOTAL (B) |
3430.627 |
2681.255 |
1942.127 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
755.913 |
585.432 |
453.945 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
274.125 |
232.453 |
175.155 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
481.788 |
352.979 |
278.790 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
97.704 |
77.371 |
74.342 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
384.084 |
275.608 |
204.448 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
87.359 |
67.238 |
61.913 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
296.725 |
208.370 |
142.535 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
598.665 |
422.057 |
283.422 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
29.600 |
16.100 |
0.000 |
|
|
|
Interim Equity Dividend |
23.900 |
11.720 |
0.000 |
|
|
|
Preferences Dividend |
0.000 |
1.667 |
3.333 |
|
|
|
Dividend Distribution Tax |
3.969 |
2.275 |
0.567 |
|
|
BALANCE CARRIED
TO THE B/S |
837.921 |
598.665 |
422.057 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
817.867 |
389.208 |
352.707 |
|
|
TOTAL EARNINGS |
817.867 |
389.208 |
352.707 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1299.467 |
1168.685 |
837.949 |
|
|
|
Consumables |
0.156 |
0.321 |
0.167 |
|
|
TOTAL IMPORTS |
1299.623 |
1169.006 |
838.116 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
18.62 |
17.61 |
20.96 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover [Approximately] |
|
|
6250.000 |
Expected Sales (2012-13) : Rs.7000.000 Millions.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
7.08
|
6.38
|
5.95 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.21
|
8.56
|
8.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.56
|
7.00
|
6.93 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.30
|
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.68
|
3.15
|
3.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.82
|
2.47
|
2.90 |
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 |
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 |
Yes |
|
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) |
Yes |
|
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 |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
FINANCIAL RESULTS AND OPERATIONS OF THE COMPANY:
Sales and other
operating income of the Company recorded a growth of 29.64% to Rs. 4171.774
Millions as compared to Rs. 3218.025 Millions in previous financial year. The
net profit of the Company rose by 42.40 % to Rs. 296.725 Millions as compared
to Rs. 208.370 Millions in previous year. The company has achieved the export
of Rs.839.530 Millions during the year.
MANAGEMENT DISCUSSION AND ANALYSIS
INDUSTRY OVERVIEW
MARKET SIZING, TRENDS AND POTENTIAL
Subject company
based in Mumbai. The company has been in the pharmaceutical industry for 32
years now. The company primarily operates in the Active Pharmaceutical
Ingredients (API) space and also has a flexible model of Contract Manufacturing
for large global companies.
1.1 INDIAN API INDUSTRY
Intermediates and
APIs have been the backbone of Indian pharmaceutical industry for the last two
decades. Due to significant cost advantages, Indian companies are amongst the
most competitive in the global market and have emerged as preferred suppliers
for API in the world. India is presently ranked amongst the top 3 API producers
in
the world. The
Indian API market size was estimated at $6bn in FY2010 and is expected to grow
to $11.3 bn in FY 2015
1.2 CONTRACT MANUFACTURING INDUSTRY
- Indian CRAMS opportunity remains robust and near-term growth is
pegged at 15- 20%. The current size of Indian CRAMS industry is about USD
3-4 billion, which is only about 4-5% of the total global CRAMS space and
presents a significant opportunity for players in this segment.
- The current size of the global contract manufacturing opportunity
(CM) is about USD 42 billion which is 24% of the global pharmaceutical
manufacturing industry.
- The CMO penetration is expected to go up substantially as
innovators are continuously enhancing their focus on outsourced pharma
manufacturing in order to cut costs and focus on drug innovation and brand
creation.
FOCUS AREAS OF THE
COMPANY
2.1 PRODUCTS
The Company has
adopted a focused product approach catering to the Anti-TB, Macrolides,
Anti-Infectives, Anti-Hypertensives and Anti-Depressants therapeutic segments.
The company's
strategy is aimed at achieving stability and moving toward higher margin
product lines.
Product
obsolescence is not a threat given the targeted therapeutic segments. Demand
will only continue to rise rapidly as the underserved economies have a lot of
unsatisfied demand
Penetration in
these product lines is limited and the threat of competition is not immediate.
Calyx continues to
pursue becoming cost and technology leaders in the product segments represented
below:
|
Therapeutic Segment |
Product |
Positioning |
Certifications |
|
Anti-TB |
Pyrazinamide, Isoniazid |
One of the
largest producers of Pyrazinamide in the
world |
USDMF |
|
Macrolides |
Erythromycin
base, Erythromycin Stearate and Erythromycin Estolate Azithromycin and
Clarithromycin, |
Leading Producer
of Erythromycin and its salts in the world |
USDMF |
|
Anti- Hypertensive |
Losartan potassium Telmisartan and
Irbesartan |
Strong Sartan
portfolio developed; initial days of market entry |
Submitted USDMF |
|
Anti-Malaria |
Lumefantrine,
Artesunate Artemether, Arteether and Dihydroartemisinin |
WHO approved
supplier for these products |
|
|
Anti- Depressants |
Zopiclone and
Venlafaxine |
Leading producer
of Zopiclone |
USDMF |
1.2
CUSTOMER-CENTRICITY
The Company has
been closely working with its customers in India as well as internationally.
Over the years Calyx has invested substantial resources and effort in building
these relationships and is now the preferred partner for several innovators.
The company has excellent relationships with Hovione, Teva and Nagase which
have matured considerably. Calyx is now a critical part of their supply chain.
Calyx has worked
with some of the best known companies in the world:
KEY GEOGRAPHICAL
MARKETS
Calyx's geographic
reach spreads across to the regulated, semi-regulated and nonregulated markets.
The Company's exports increased by around 22% to reach Rs 1226.000 Millions in
FY2011. Africa, with its high incidence of malaria, presents the biggest
potential for export for the Company's Anti Malaria products.
OUTLOOK
They are focused
on increasing their market share in their existing product groups and building
on their leadership position in certain therapeutic segments. They are
committed to forging strong relationships with their customers and are
increasing their offerings by including more products and services they can
provide. They strongly believe that the strategies that they are adopting
currently will lead to deliver higher value of not just all their shareholders
but also all the stakeholders of the company.
FORM 8
|
Corporate
identity number of the company |
U24220MH1986PLC038618 |
|
Name of the
company |
CALYX CHEMICALS AND PHARMACEUTICALS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Unit No. 2, Marwah’s
Complex, Marwah Estate, |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10210773 |
|
Type of charge |
|
|
Particular of
charge holder |
State Bank of |
|
Nature of
instrument creating charge |
Letter No.
F/Adv/Calyx/1947 dated 07.02.2012 issued by State Bank of Hyderabad. |
|
Date of
instrument Creating the charge |
07.02.2012 |
|
Amount secured by
the charge |
Rs.200.000 Millions
|
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As may be
stipulated by the banks from time to time Terms of Repayment Corporate Loan of
Rs.200.000 Millions shall be repayable in suitable installments. Margin As may be
stipulated by the banks from time to time Extent and Operation of the charge The Bank has
agreed to retain its subservient charge in place of its existing first
charge, over all the present and future current assets including all goods
and book debts of the company for securing its Corporate Loan of Rs.200.000
Millions sanctioned by the Bank to the company. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Subservient
charge on all current Assets of the company with all other lenders. First charge on
all fixed assets of the company along with all other lenders. |
|
Date of instrument
modifying the charge |
27.04.2010 |
|
Particulars of
the present modification |
The bank has
retained its subservient charge in place of its existing first charge, over
all the present and future current assets including all goods and book debts
of the company for securing its corporate loan of Rs.200.000 Millions
sanctioned by the Bank to the company. However, the charge created on fixed
assets of the cop-many shall continue to the security by way of first charges
in favour of the Bank to secure its corporate loan of Rs.200.000 Millions |
FIXED ASSETS
·
·
Building
·
Plant and Machinery
·
Air Conditioner
·
Computer
·
Electrical Installation
·
Furniture and Fixture
·
Laboratory Equipments
·
Vehicles
·
Office Equipments
·
Air Conditioner
·
Computer
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 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. 52.78 |
|
|
1 |
Rs. 85.16 |
|
Euro |
1 |
Rs. 67.78 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
|
52 |
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.