MIRA
INFORM REPORT
|
Report Date : |
27.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
CADILA HEALTHCARE LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
15.05.1995 |
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Com. Reg. No.: |
04-025878 |
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Capital
Investment / Paid-up Capital : |
Rs. 1024.000
Millions |
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CIN No.: [Company Identification
No.] |
L24230GJ1995PLC025878 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMC00020G |
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PAN No.: [Permanent Account No.] |
AAACC6253G |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturer and Seller of Pharmaceuticals, Bulk Drugs, Formulations and Injectibles. |
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No. of Employees
: |
3000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
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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 |
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Maximum Credit Limit : |
USD 100000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exists |
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Comments : |
Subject is a well – established and a reputed company having good track. Financial position of the company appears to be sound. Directors are reported to be experienced, respectable and resourceful businessmen. Trade relations are fair. Business active. Payments are reported to be regular and as per commitments. The company can be considered good for normal 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term loan : AA+ |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
January 20, 2011 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term Debt Programme : P1+ |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
January 20, 2011 |
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/ Corporate Office : |
|
|
Tel. No.: |
91-79-26770100 (EPBX) (20 Lines) / 26868100 / 26868235 |
|
Fax No.: |
91-79-26732365 / 26732366 / 26862365 |
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E-Mail : |
investor.grievance@zyduscadila.com
|
|
Website : |
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Corporate Office : |
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Tel. No.: |
91-79-2686 8100 (20 Lines) |
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Fax No.: |
91-79-2686 2365 / 66 |
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Website : |
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Factory 1 : |
Tel No. 91-79-23750331 / 36 / 36 Fax No. 91-79-23750319 Formulation
Unit:
Ř
S. No.417, 419 and 420, Village Moraiya,
Taluka Sanand, District Ahmedabad, Ř
Kundaim Industrial Estate, Ponda, Goa – 403
401, Ř Village Saraj Mujra, P. O.– Baddi, Tehsil – Nalagarh, District – Solan, Himachal Pradesh, India Neutraceutical
Plant
5504, GIDC Estate,
Phase III, Vatva, Ahmedabad, SBI
Bulk Drug Unit
Plot No. 291, GIDC Industrial Estate, Ankleshwar – 393
002, District Bharuch, Tel No. 91-2646-220621/220719 Fax No. 91-2646-250672 |
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|
|
|
|
Zydus
Research Centre
Ř
S. No. 396/403, Village Moraiya, Taluka
Sanand, District Ahmedabad, |
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|
Business Development
Office : |
203/204, Neelkant Commercial Centre, Tel No. 91-22-28394690/28394698 |
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Branches : |
Khemka House, |
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Tel. No.: |
91-79-27410861 |
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API Units : |
Ř
GIDC Estate, Ankleshwar, Ř
Dabhasa, Tal. Padra, District Vadodara, |
DIRECTORS
AS ON 31.03.2012
|
Name |
Mr. Pankaj R.
Patel |
|
Designation |
Chairman and
Managing Director |
|
|
|
|
Name |
Mr. Sharvil P.
Patel |
|
Designation |
Deputy Managing
Director |
|
Address |
16, Azad Society,
Ambawadi, Ahmedabad – 380 015, |
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|
|
|
Name |
Mr. Humayun Dhanrajgiri |
|
Designation |
Director |
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|
|
|
Name |
Mr. Mukesh M.
Patel |
|
Designation |
Director |
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|
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|
Name |
Mr. Nitin
Raojibhai Desai |
|
Designation |
Director |
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|
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|
Name |
Mr. Apurva S. Diwanji |
|
Designation |
Director |
KEY EXECUTIVES
|
Name |
Mr. Ramanbhai B.
Patel |
|
Designation |
Founder |
|
Address |
16, Azad Society,
Ambawadi, Ahmedabad – 380 015, |
|
|
|
|
Name |
Mr. Upen H. Shah |
|
Designation |
Company Secretary |
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|
|
|
Name |
Mr. Jyotindra B. Gor |
|
Designation |
Chief Accounts Officer |
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|
|
|
Name |
Mr. Nitin D Parekh |
|
Designation |
Chief Financial Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2012
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
153,134,446 |
74.79 |
|
|
3,600 |
- |
|
|
153,138,046 |
74.79 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
153,138,046 |
74.79 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
13,189,295 |
6.44 |
|
|
2,119,667 |
1.04 |
|
|
9,185 |
0.00 |
|
|
9,439,941 |
4.61 |
|
|
9,044,459 |
4.42 |
|
|
33,702,547 |
16.51 |
|
|
|
|
|
|
7,304,728 |
3.57 |
|
|
|
|
|
|
8,545,641 |
4.17 |
|
|
1,608,122 |
0.79 |
|
|
349,436 |
0.17 |
|
|
349,436 |
0.17 |
|
|
17,807,927 |
8.70 |
|
Total Public shareholding (B) |
51,610,474 |
25.21 |
|
Total (A)+(B) |
204,748,520 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
-- |
-- |
|
|
-- |
-- |
|
|
-- |
-- |
|
|
-- |
-- |
|
Total (A)+(B)+(C) |
204,748,520 |
-- |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs. 0.100 millionBUSINESS DETAILS
|
Line of Business : |
Manufacturer and Seller of pharmaceuticals, bulk drugs, formulations and injectibles. |
PRODUCTION STATUS (AS ON 31.03.2011):-
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
Tablets |
M. L. Nos. |
12084 |
7304 |
|
Capsules |
M. L. Nos. |
1138 |
916 |
|
Injections |
K. Ltrs |
513 |
1264 |
|
Dry Powder Injections |
Kgs |
200 |
5295 |
|
Liquids |
K. Ltrs |
0 |
485 |
|
Dry Syrups, Powder and Granuted |
Tonnes |
5800 |
524 |
|
Ointments |
Tonnes |
150 |
334 |
|
Suppositories |
M. L. Nos. |
8 |
17 |
|
Bulk Drugs |
Tonnes |
907 |
633 |
|
Lyophised Injections |
ML Nos. |
19 |
9 |
|
Vaccines |
M. L. Dosages |
4 |
2 |
|
Aeroslos |
M. L. Nos. |
3 |
8 |
|
Transdermals |
ML.Nos.3 |
5 |
0 |
[#] Includes Inter
unit Transfer 124 Tonnes [2009-10 - 121 Tonnes ] .
Note : Licensed
capacities not stated in view of abolition of Industrial licensing for all of the
above class of goods vide Notification No. F.NO. 10[11] / 92 - LP dated
25.10.1994, issued by Government of India.
GENERAL INFORMATION
|
No. of Employees : |
3000 (Approximately) |
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Bankers : |
Ř Bank of Ř BNP Paribas Ř Credit Agricole Corporate
and Investment Bank Ř Citibank N. A. Ř Exim Bank Ř HDFC Bank
Limited Ř ICICI Bank
Limited Ř IDBI Bank Ř State Bank of Ř
Standard Chartered Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mukesh M. Shah and Company Chartered Accountants |
|
Address : |
3, H. K. House, Second Floor, |
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Subsidiary Companies/ Concerns: |
Ř
Dialforhealth India Limited Ř
Zydus Pharmaceuticals ( Ř
Dialforhealth Unity Limited Ř
Nesher Pharmaceuticals (USA) LLC [ Ř
Dialforhealth Greencross Limited Ř
German Remedies Limited Ř
Zydus Healthcare ( Ř
Zydus Pharmaceuticals Limited Ř
Zydus Noveltech Inc. [ Ř
Zydus Animal Health Limited Ř
Zydus Healthcare S.A. (Pty) Limited [ Ř
Zydus Wellness Limited Ř
Simayla Pharmaceuticals (Pty) Limited [ Ř
M/s. Zydus Wellness-Sikkim, a Partnership Firm
Liva Healthcare Limited Ř
Script Management Services (Pty) Limited [ Ř
Zydus Nikkho Farmaceutica Ltda. [ Ř
Zydus Technologies Limited Ř
Biochem Pharmaceutical Industries Limited Ř
Zydus Pharmaceuticals Mexico SA De CV [ Ř
Finest Procuring Solutions Limited Ř
Zydus Pharmaceuticals Mexico Services Company SA
De C.V.[ Ř
M/s. Zydus Healthcare, a Partnership Firm Zydus
International Private Limited [ Ř
ZAHL B.V. [the Ř
Zydus Ř
ZAHL Europe B.V. [the Ř
Zydus France, SAS [France] Ř
Etna Biotech S.R.L. [ Ř
Bremer Pharma GmbH [ Ř
Zydus Pharma Japan Company Limited [ Ř
Zydus Lanka (Private) Limited [ Ř Laboratorios
Combix S.L. [ |
|
|
|
|
Joint Venture : |
Ř
Zydus BSV Pharma Private Limited Ř
Zydus Hospira Oncology Private Limited Ř Zydus Nycomed Healthcare
Private Limited Ř Bayer Zydus
Pharma Private Limited |
|
|
|
|
Enterprises significantly influenced by Directors and/ or their
relatives: |
Ř
Cadmach Machinery Company Private Limited Ř
Western Ahmedabad Effluent Conveyance Company
Private Limited Ř
Ř
Zydus Hospitals (Vadodra) Private Limited Ř
Pripan Investment Private Limited Ř
Zydus Hospitals ( Ř
Zest Aviation Private Limited Ř
MabS Biotech Private Limited Ř
Zandra Infrastructure LLP Ř
Zydus Infrastructure Private Limited Ř
M/s. C. M. C. Machinery Ř Cadila
Laboratories Private Limited Ř M/s. Cadam
Enterprises |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
220,000,000 |
Equity Shares |
Rs. 5/- each |
Rs. 1100.000 |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
204,748,520 |
Equity Share |
Rs. 5/- each |
Rs. 1024.000
Millions |
|
|
|
|
|
Notes:
|
A The reconciliation of the number of Shares outstanding is as under: |
31.03.2012 |
|
Particulars |
|
|
Number of shares at the beginning |
204748520 |
|
Add: Bonus shares issued during the reporting period |
-- |
|
Number of shares at the end |
204748520 |
|
B The Company has only one class of shares i.e. equity shares. All
equity shares rank pari passu and carry equal rights with respect to voting
and dividend. In the event of liquidation of the Company, the equity shareholders
shall be entitled to proportionate share of their holding in the assets
remaining after distribution of all preferential amounts. |
|
|
C Details of Share Holders holding more than 5% of Equity Shares of
Rs. 5/- each, fully paid: |
|
|
Zydus Family Trust |
|
|
Number of Shares |
153107446 |
|
% to total share holding |
74.78% |
|
D 100,885,305 [as at March 31, 2011: 100,885,305] Equity Shares of Rs.
5/- each, fully paid-up were issued and allotted without payment being received
in cash and 90,000,000 [as at March 31, 2011: 90,000,000] Equity Shares of
Rs. 5/- each were extinguished during February, 2009 pursuant to Composite
Scheme of Arrangement. |
|
|
E Equity Shares allotted as fully paid bonus shares during the last five
years |
68249507 |
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 |
1024.000 |
1024.000 |
682.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
24469.000 |
19875.000 |
15539.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
25493.000 |
20899.000 |
16221.000 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
7492.000 |
4990.000 |
5542.000 |
|
|
2] Unsecured Loans |
3466.000 |
251.000 |
399.000 |
|
|
TOTAL BORROWING |
10958.000 |
5241.000 |
5941.000 |
|
|
DEFERRED TAX LIABILITIES |
1248.000 |
1193.000 |
1149.000 |
|
|
Foreign Currency Monetary Items Translation
Difference Account |
78.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
37777.000 |
27333.000 |
23311.000 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
12177.000 |
10366.000 |
9504.000 |
|
|
Capital work-in-progress |
3117.000 |
2337.000 |
1429.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
12122.000 |
6988.000 |
5989.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
5012.000
|
4645.000 |
3808.000
|
|
|
Sundry Debtors |
5812.000
|
4751.000 |
4008.000
|
|
|
Cash & Bank Balances |
1183.000
|
424.000 |
282.000
|
|
|
Other Current Assets |
195.000
|
388.000 |
0.000
|
|
|
Loans & Advances |
7574.000
|
4719.000 |
3677.000
|
|
Total
Current Assets |
19776.000
|
14927.000 |
11775.000
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2848.000
|
3459.000 |
3760.000
|
|
|
Other Current Liabilities |
4296.000
|
1967.000 |
121.000
|
|
|
Provisions |
2271.000
|
1859.000 |
1517.000
|
|
Total
Current Liabilities |
9415.000
|
7285.000 |
5398.000
|
|
|
Net Current Assets |
10361.000
|
7642.000 |
6377.000
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
Foreign currency monetary items translation difference account |
0.000 |
0.000 |
12.000 |
|
|
|
|
|
|
|
|
TOTAL |
37777.000 |
27333.000 |
23311.0000 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
31508.000 |
29203.000 |
18329.000 |
|
|
|
Other Income |
2391.000 |
581.000 |
6355.000 |
|
|
|
TOTAL (A) |
33899.000 |
29784.000 |
24684.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
7909.000 |
6767.000 |
|
|
|
|
Purchases of Stock-in-Trade |
3046.000 |
2283.000 |
|
|
|
|
Changes in Inventories of Finished goods, Work-in-progress and
Stock-in-Trade |
(585.000) |
(351.000) |
|
|
|
|
Employee Benefits Expense |
4345.000 |
4138.000 |
|
|
|
|
Other Expenses |
10115.000 |
9288.000 |
|
|
|
|
TOTAL (B) |
24830.000 |
22125.000 |
18150.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
9069.000 |
7659.000 |
6534.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1283.000 |
318.000 |
431.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
7786.000 |
7341.000 |
6103.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1082.000 |
969.000 |
900.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
6704.000 |
6372.000 |
5203.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
129.000 |
268.000 |
170.00 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
6575.000 |
6104.000 |
5033.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
6675.000 |
3323.000 |
2030.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
1000.000 |
1226.000 |
2500.000 |
|
|
|
Transfer to Debenture Redemption Reserve |
450.000 |
100.000 |
100.000 |
|
|
|
Proposed Dividend |
1536.000 |
1280.000 |
1024.000 |
|
|
|
Corporate Dividend Tax on Proposed Dividend |
170.000 |
146.000 |
116.000 |
|
|
BALANCE CARRIED
TO THE B/S |
10094.000 |
6675.000 |
3323.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
13569.000 |
12111.000 |
9600.000 |
|
|
|
Royalty, Know-how, professional and consultation fees |
356.000 |
293.000 |
0.000 |
|
|
|
Other Earnings |
711.000 |
613.000 |
735.000 |
|
|
TOTAL EARNINGS |
14636.000 |
13017.000 |
10335.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1759.000 |
1553.000 |
1329.000 |
|
|
|
Stores & Spares |
160.0000 |
161.000 |
79.000 |
|
|
|
Capital Goods |
718.000 |
496.000 |
331.000 |
|
|
|
Finished Goods |
690.000 |
322.000 |
234.000 |
|
|
|
Packing materials |
222.000 |
167.000 |
104.000 |
|
|
TOTAL IMPORTS |
3549.000 |
2699.000 |
2077.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic
and Diluted EPS |
|
|
|
|
|
|
- Before
Exceptional Items |
NA |
NA |
36.87 |
|
|
|
- After
Exceptional Items |
NA |
NA |
36.87 |
|
|
|
Adjusted
Basic and Diluted EPS |
|
|
|
|
|
|
- Before
Exceptional Items |
32.11 |
29.81 |
24.58 |
|
|
|
- After
Exceptional Items |
32.11 |
29.81 |
24.58 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2012 |
|
|
1st Quarter |
|
Sales Turnover |
8194.200 |
|
Total Expenditure |
6285.000 |
|
PBIDT (Excl
OI) |
1909.200 |
|
Other Income |
26.900 |
|
Operating
Profit |
1936.100 |
|
Interest |
268.900 |
|
Exceptional
Items |
0.000 |
|
PBDT |
1667.200 |
|
Depreciation |
275.200 |
|
Profit
Before Tax |
1392.000 |
|
Tax |
65.000 |
|
Provisions and Contingencies |
0.000 |
|
Reported PAT |
1327.000 |
|
Extraordinary Items |
0.000 |
|
Prior Period Expenses |
0.000 |
|
Other Adjustments |
0.000 |
|
Net Profit |
1327.000 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
19.40 |
20.49 |
20.39
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
21.28 |
21.82 |
28.39
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.98 |
25.19 |
24.45
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.30 |
0.32
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.80 |
0.60 |
0.70
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.10 |
2.05 |
2.18
|
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 |
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 |
Yes |
|
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 |
LITIGATION
DETAILS:
|
HIGH COURT OF TAX APPEAL No.
1864 of 2008 |
|||||||||||||
|
Status: PENDING
( Converted from : ST/3848/2008 ) CCIN No: 001092200801864 Last Listing Date: 29/09/2009 Coram: - HONOURABLE THE
CHIEF JUSTICE MR. K.S.RADHAKRISHNAN - HONOURABLE MR.JUSTICE AKIL
KURESHI |
|||||||||||||
|
S.NO. |
Name of the
Petitioner |
Advocate On
Record |
|||||||||||
|
1 |
COMMISSIONER OF CENTRAL EXCISE |
MS SEJAL K MANDAVIA for: PETITIONER(s) |
|||||||||||
|
S.NO. |
Name of the
Respondant |
Advocate On
Record |
|||||||||||
|
1 |
CADILA HEALTHCARE LIMITED |
SINGHI & CO for :RESPONDENT(s) |
|||||||||||
|
Presented On : 04/12/2008 Registered
On : 04/12/2008 Bench Category : DIVISION BENCH District : AHMEDABAD Case Originated From: THROUGH ADVOCATE Listed : 4 times Stage Name : FOR FINAL
HEARING - TAX MATTERS
Act
CENTRAL EXCISES AND SALT ACT, 1944 Office Details |
|||||||||||||
|
S. No |
Filing Date |
Document Name |
Advocate Name |
Court Fee on
Document |
Document Details |
||||||||
|
1 |
04/12/2008 |
CERTIFIED COPY |
MS SEJAL K MANDAVIA ADVOCATE |
5 |
- |
||||||||
|
2 |
04/12/2008 |
MEMO OF APPEAL/PETITION/SUIT |
MS SEJAL K MANDAVIA ADVOCATE |
50 |
- |
||||||||
|
Court
Proceedings |
|||||||||||||
|
S. No. |
Notified Date |
Court Code |
Board Sr. No. |
Stage |
Action |
Coram |
|||||||
|
1 |
24/09/2009 |
1 |
- |
FOR FINAL HEARING - TAX MATTERS |
NEXT DATE |
·
HONOURABLE THE CHIEF JUSTICE MR.
K.S.RADHAKRISHNAN ·
HONOURABLE MR.JUSTICE ANANT S. DAVE |
|||||||
|
2 |
29/09/2009 |
1 |
- |
FOR FINAL HEARING - TAX MATTERS |
RULE/ADMIT |
·
HONOURABLE THE CHIEF JUSTICE MR.
K.S.RADHAKRISHNAN ·
HONOURABLE MR.JUSTICE AKIL KURESHI |
|||||||
|
HIGH COURT OF FIRST APPEAL No.
2179 of 2010 |
||||||||||||||||||||||||||
|
Status:
PENDING
CCIN No: 001012201002179 Next Listing Date: 16/10/2012 Coram: HONOURABLE
MR.JUSTICE M.D. SHAH |
||||||||||||||||||||||||||
|
S.NO. |
Name of the
Petitioner |
Advocate On
Record |
||||||||||||||||||||||||
|
1 |
INLAND ROAD TRANSPORT (PVT) LTD |
|
||||||||||||||||||||||||
|
S.NO. |
Name of the
Respondant |
Advocate On
Record |
||||||||||||||||||||||||
|
1 |
CADILA HEALTHCARE LIMITED |
SINGHI & CO for :RESPONDENT(s) |
||||||||||||||||||||||||
|
Presented On : 11/05/2010 Registered
On : 11/05/2010 Bench Category : SINGLE BENCH District : AHMEDABAD Case Originated From: THROUGH ADVOCATE Listed : 24 times Stage Name : FOR FINAL HEARING
Act
CIVIL PROCEDURE CODE, 1908 Lower Court Details
Office Details |
||||||||||||||||||||||||||
|
S. No |
Filing Date |
Document Name |
Advocate Name |
Court Fee on
Document |
Document Details |
|||||||||||||||||||||
|
1 |
11/05/2010 |
VAKALATNAMA |
MS ROOPAL R PATEL ADVOCATE |
5 |
- |
|||||||||||||||||||||
|
2 |
11/05/2010 |
CERTIFIED COPY |
MS ROOPAL R PATEL ADVOCATE |
7 |
- |
|||||||||||||||||||||
|
3 |
11/05/2010 |
MEMO OF APPEAL/PETITION/SUIT |
MS ROOPAL R PATEL ADVOCATE |
28000 |
- |
|||||||||||||||||||||
|
4 |
28/01/2011 |
VAKALATNAMA |
SINGHI & CO ADVOCATE |
5 |
- |
|||||||||||||||||||||
|
Linked Matters |
||||||||||||||||||||||||||
|
S. No. |
Case Detail |
Status Name |
Disposal Date |
Action/Coram |
||||||||||||||||||||||
|
1 |
CIVIL APPLICATION/5391/2010 |
DISPOSED |
20/07/2010 |
RULE ABSOLUTE/ALLOWED @ F.H HONOURABLE MR.JUSTICE JAYANT PATEL HONOURABLE SMT. JUSTICE ABHILASHA KUMARI |
||||||||||||||||||||||
|
Court
Proceedings |
||||||||||||||||||||||||||
|
S. No. |
Notified Date |
Court Code |
Board Sr. No. |
Stage |
Action |
Coram |
||||||||||||||||||||
|
1 |
16/10/2012 |
12 |
- |
FOR FINAL HEARING |
NEXT DATE |
HONOURABLE MR.JUSTICE M.D. SHAH |
||||||||||||||||||||
HISTORY:
The company was incorporated on 15.05.1995 at Ahmedabad in
Subject is the flagship of Zydus Cadila Group.
Subject was established in 1951. After an existence of four and a half decades subject restructured its operations in 1995, to keep pace with the new business environment. Subject, under the aegis of the Zydus Group came into existence with a focus on total healthcare solutions.
Two families, "the Patel's" and "the
Modi's", promoted the Cadila group of companies. The flagship company was
Cadila Laboratories. There were other companies named Cadila Chemicals, Cadila
Exports, Cadila Antibiotics and Cadila Veterinary Limited. In 1995, to pursue
their independent business philosophies a restructuring of the group was
carried out under which two companies were formed Cadila Laboratories Limited
(Modi's) and the subject.
The business was divided into two equal parts. After the restructuring the company embarked on a major marketing exercise, which helped it, catapult from 15th rank to 6th rank in the Indian Pharma industry. The promoters of the company, Mr. Ramanbhai Patel and Mr. Pankaj Patel are both well qualified in the field of Pharmaceuticals and have received several awards for their recognition.
In February, 2000 it came out with a pubic issue of 14886000 shares of Rs.5 each which included a book build portion of 13397400 equity shares of Rs.5 each and a fixed price portion of 1488600 equity shares at a premium of Rs.245/- per share.
The fund raised is proposed to utilise for financing new
formulations unit at Moraiya, near Ahmedabad and for expansion of bulk drug
unit at Ankleshwar,
The company’s operation include pharmaceuticals (human
formulations, veterinary formulations and bulkdrugs), diagnostics, herbal
products like skin care products and OTC products. Its formulation complex is
located at
The company has entered into a joint venture with USA based Onconova Teherapeuticsl Inc. a biopharmaceutical company specialising in the field of oncology (cancer research). This agreement provides for future collaboration on research manufacturing and marketing of products.
As a result of the merger of 4 companies the company has
been rated as fourth largest Pharmaceutical company in the domestic
formulations market with a market share of 3.80%.
RESULTS OF OPERATIONS:
During the year,
the consolidated sales grew by 14.59 %. On standalone basis, the Company has
achieved sales of Rs. 24,565 millions, showing a growth of 11.09 % compared to
the previous year. The PBIDT increased by 18.41 % to Rs. 9,069 millions. The
Profit before Tax was higher by 5.21 % to Rs. 6,704 millions. The Profit after
Tax increased to Rs. 6,575 millions up by 7.72% compared to Rs. 6,104 millions
in 2010-11. The Company achieved EPS of Rs. 32.11 compared to Rs. 29.81 in
2010-11. A detailed analysis of performance for the year has been included in
the Management Discussion and Analysis, which forms part of the Annual Report.
SUBSIDIARY COMPANIES:
During the year,
Quimica E Pharmaceutica Nikkho Do Brazil Ltda.,
In accordance with
the general circular issued by the Ministry of Corporate Affairs, Government of
India, the Balance Sheet, Statement of Profit and Loss and other documents of
the subsidiary companies are not being attached with the Balance Sheet of the
Company. As required under the circular, the Board of Directors at its meeting
held on May 10, 2012 passed a resolution giving consent for not attaching these
documents with the Balance Sheet of the Company.
The Company will
make available the Annual Accounts of the subsidiary companies and the related
detailed information to any member of the Company who may be interested in
obtaining the same. The annual accounts of the subsidiary companies will also
be kept open for inspection at the Registered Office of the Company and that of
the respective subsidiary companies. The Consolidated Financial Statements
presented by the Company include financial results of its subsidiary companies.
The statement containing the list of subsidiaries along with brief
financial details of the subsidiaries is given in this Annual Report
separately.
MANAGEMENT'S
DISCUSSION & ANALYSIS
GLOBAL ECONOMY AND PHARMACEUTICAL INDUSTRY
The global economy
has passed through a challenging phase in 2011-12, characterised by significant
risks and instability. The intense financial crisis prevailing in
While Europe seems
to be in recession, several major developing countries like
The global
pharmaceutical industry, particularly the branded innovator drugs segment, is
also facing pressure due to a number of factors like patent expiry of a large
number of high revenue molecules, a diminishing R&D pipeline of new drugs,
regulatory challenges and pricing pressures from governments across the globe,
apart from ballooning costs of doing research. There has been a shift of focus
towards the emerging markets of Asia, Africa and Latin America, which are
growing three times faster than the leading markets of North America,
INDIAN ECONOMY AND PHARMACEUTICAL INDUSTRY
The financial year
2011-12 was a year of slow growth for the Indian economy. The GDP is estimated
to have grown at less than 7% during 2011-12 after it grew by more than 8%
during the two preceding financial years. Agriculture and industry showed
slower growth during the year as compared to the growth that was registered in
the previous year, resulting in slower overall growth.
Inflation remained
high, with the Wholesale Price Index (WPI) remaining at over 9% for the most
part of FY 2011-12, although it showed signs of moderating towards the later
part of the fiscal year. The average WPI inflation rate for 2011-12 was 8.79%
as against 9.56% during 2010-11. The global economic slowdown and the crisis in
European economies, especialy
The Indian
pharmaceutical market is on the path of becoming a major global market and is
one of the biggest drivers of growth in the Asian subcontinent, apart from
2011-12: JOURNEY BEYOND THE BILLION BEGINS
While the year
2010-11 marked the achievement of an important milestone of $ 1 bn in
consolidated revenues by the Company, the year 2011-12 marks the beginning of
the journey Beyond the Billion in pursuit of its next milestone of $ 3 bn in
2015. During the year, the Company carried out a detailed exercise to work out
the strategy for this journey Beyond the Billion (BtB). After a detailed study
of various therapies and markets, the Company has identified 15 markets /
countries and 13 therapies as key focus areas. Different markets / therapies
have been classified into different clusters. They are home markets, steady
growth businesses and new technology businesses.
Home markets
comprise the two established markets of India Formulations and US generics and
the two promising future markets of
The new technology
businesses comprise Biosimilars, Transdermals, Vaccines, Injectibles, Inhalers,
Creams and Ointments and NCEs. While these businesses require high upfront
investments, which the Company has already initiated, they have a very large
potential upside in the future.
The vision,
objectives and detailed road-map for each of these businesses have been
defined. Several strategic initiatives have been identified for each of the
businesses, alongwith their execution plans to ensure that each business
achieves its own vision and BtB objectives. Key risks and their mitigation plans
have also been identified for each business.
To ensure better
review and monitoring process, greater accountability and better focus, the
Company has also revamped the internal governance architecture. Key initiatives
and implementation plans have been laid out for improving overall
organizational health in the areas of Value Creation, Innovation, Collaboration
and Accountability. These four pillars of VICA have been identified as the
growth drivers in the journey Beyond the Billion.
Highlights of operations of the different businesses and
markets in FY 2011-12 are as follows.
STEADY GROWTH BUSINESSES
The Company has its presence in Europe through its
subsidiaries in the generic markets of
The Company’s
business in
During the year,
the Company’s business in
The Company is
present in
During the year, the
Company launched two in-licensed products and received the PMDA approval for
three new products including one Day-1 launch.
The Company’s
sales in
EMERGING MARKETS OF ASIA PACIFIC,
During the year,
the Company’s business continued to perform well in the participated markets of
Asia Pacific, Africa and the
API &
INTERMEDIATES
The Company’s APIs
and Intermediates business continued to provide support in the form of backward
integration to cater to thedemand for finished formulations across markets. The
Company filed 10 US DMFs during the year, taking the Company's cumulative filings
to 107.
The year 2011-12
saw a decline in the sales of APIs at Rs. 2,854 Mio., down by 18% primarily on
account of price erosion in the key international markets and higher capacity
allocation to internal requirements for manufacturing of finished formulations.
CONSUMER WELLNESS
The health and
wellness market in
During the year
2011-12, Sugar Free,
Actilife, a
nutritional milk additive for adults, launched last year, has seen steady
progress during the year. Being a new concept, the Company has invested in
creating awareness, not just through theme advertising but also through large
scale consumer contact programs involving education and sampling. This brand
will be in focus for the next few years as it has a potential to become an
additional pillar of growth for the Company.
The Company’s
formulations business in
During the year,
the Company acquired 100% stake in Biochem, one of the top 40 pharma companies
in
The Company
continued to maintain its strong position in the participated market segments
of cardiovasculars, gastro intestinals, respiratory and women’s healthcare
during the year. 20 of the Company’s brands now feature amongst the top 300
pharmaceutical brands in
During the year,
the Company’s formulations business in
The
During the year,
Zydus Pharmaceuticals (USA) Inc., through its subsidiary Nesher Pharmaceuticals
USA LLC, acquired the assets of the US based pharmaceutical company, Nesher
Pharmaceuticals Inc. Nesher has capabilities to manufacture controlled release
medications or DEA-controlled substances. With this, the Company will now be
able to manufacture and distribute generic controlled substances in the
The Company’s
business in the
Rated as one of the
most promising ‘pharmerging’ countries across the world, the Brazilian
pharmaceutical market has been continuously growing for the last few years and
offers significant potential. Several factors such as strong Government support
and high healthcare demand, amongst others are propelling the Brazilian
healthcare market to grow at a faster pace.
The company is
present in both the branded and generic segments of the Brazilian
pharmaceutical market. With an aspiration to be a leading player in chronic
therapy segments like cardiovascular, diabetes and neuro psychiatry, the
Company launched 7 new products in
The Company is
present in
ANIMAL HEALTH BUSINESS
Zydus Animal
Health Ltd., (ZAHL), a 100% subsidiary of the Company, is one of
During the year,
ZAHL expanded its operations globally with the acquisition of a 100% stake in
Bremer Pharma GmbH,
On a consolidated
basis, ZAHL posted sales of Rs. 1,944 Mio, with a growth of 40% during the
year.
JVS AND ALLIANCES
A. ZYDUS NYCOMED HEALTHCARE PRIVATE LIMITED
Zydus Nycomed is a
50:50 JV between Nycomed and Cadila Healthcare Ltd., for manufacturing of Key
starting materials (KSMs) for Pantoprazole and also a hub for supplying various
APIs of Nycomed’s generic portfolio and in future for Takeda, following the
acquisition of Nycomed by Takeda .
During the year,
the Zydus Nycomed JV commenced the commercial production and supply of 7
generic APIs to Nycomed. The JV was successful in getting approvals from the
Danish Medicine Agency after their regulatory audits for different products.
B. ZYDUS HOSPIRA ONCOLOGY PRIVATE LIMITED
Zydus Hospira
Oncology Pvt. Ltd. (ZHOPL), the 50:50 JV between Cadila and Hospira Inc.,
C. BAYER ZYDUS PHARMA PRIVATE LIMITED
Bayer Zydus Pharma
Pvt. Ltd., the joint venture with Bayer Schering Pharma, commenced commercial
operations in
D. ZYDUS BSV PHARMA PRIVATE LIMITED
Zydus BSV Pharma
Pvt. Ltd. (ZBSV), the 50:50 JV set up in alliance with Bharat Serums and
Vaccines Ltd., owns rights to a novel and patented product for use in oncology.
ZBSV also operates in the generic oncology segment by way of contract
manufacturing. The JV’s novel and patented product progressed well in the
Indian market. This clearly indicates the superior benefits, this product
offers to cancer patients and further supports the Company’s plans for
developing the product for global markets. The Company’s ongoing clinical trial
in breast cancer is progressing as per schedule and will assist in gaining
market share in
approvals in various other markets.
E. STRATEGIC OUT-LICENSING DEAL WITH ABBOTT
LABORATORIES
During the year,
the company expanded its alliance with Abbott Laboratories to 3 more countries
taking the total number of countries to 18. Further, 7 more products were added
to the existing portfolio of 24 products, taking the number of out-licensed
products to 31.
Overall, the Company’s share in the sales from the JVs was Rs. 4,230
Mio. during the year, up by 16%.
NEW TECHNOLOGIES
BIOLOGICS
The Company is
developing a pipeline of 19 biologics, comprising 17 biosimilars and 2 novel
biological products. During the year, the Company launched 5 biosimilar
products in the Indian market, developed and manufactured in-house. 3 more
products are in an advanced stage of development. On the novel biologics front,
the Company filed clinical trial applications for PEGEPO, which is being
developed in collaboration with Prolong Pharma,
TRANSDERMALS
The Company’s
initiatives to develop a niche portfolio of technologically complex and
advanced new drug delivery systems have progressed well during the year, with
filings with the USFDA for 2 ANDAs for transdermal patches.
NCE RESEARCH
The Company’s
state-of-the-art Zydus Research Centre (ZRC) spearheads the Company’s NCE and
Biologics research activities. The company currently conducts basic new drug
discovery research in cardio-metabolic, inflammation, pain and oncology
therapeutic areas, with a portfolio of 8 candidates in various stages of
development.
During the year,
ZYOG1, the Company’s novel, orally acting GLP-1 agonist completed Phase I(a)
clinical trials in healthy human volunteers and the Company applied for permission
to conduct Phase I(b) trials in diabetic patients. ZYD1, a novel GLP-1 agonist
for treating diabetes and ZYGK1, a novel Glucokinase activator are currently
undergoing Phase 1 clinical trials. The Company also received Phase I clinical
trial permission for ZYPH0907, a novel oral PTH agonist for treating
osteoporosis and ZYG19, a novel GPR-119 agonist for treating diabetes.
INTELLECTUAL PROPERTY RIGHTS
The Company’s
efforts in the development of new molecules, newer delivery systems, processes
and technologies have continued. The Company’s research and development centres
have filed over 150 patents in the
MANUFACTURING
OPERATIONS
The Company’s state-of-the-art
facilities for manufacturing formulations and APIs are considered to be the
backbone of the Company’s global operations and would be one of the important
pillars for success in the BtB journey. During the year, the formulations
manufacturing plant at Baddi, Himachal Pradesh received an approval from the
USFDA. This opens up an additional resource to cater to the growing needs of
its
CONTINGENT LIABILITIES:
|
Particulars |
31.03.2012 |
31.03.2011 |
|
a Claims against
the Company not acknowledged as debts [Including Rs. 1 {as at March 31, 2011:
Rs. 1} Million in respect of Amalgamated {*} Companies] |
57.000 |
57.000 |
|
b i In respect
of guarantees given by Banks and/or counter guarantees given by the Company |
151.000 |
150.000 |
|
ii In respect of
letter of comforts/ corporate guarantees given by the Company to Banks for the
outstanding dues of loans availed by some of the subsidiary companies and a
joint venture company |
8752.000 |
4643.000 |
|
c Other money
for which the company is contingently liable: |
41.000 |
40.000 |
|
i In respect of the demands raised by the Central Excise, State Excise
& Service Tax Authority [Including Rs. 9 {as at March 31, 2011: Rs. 9}
Millions in respect of Amalgamated {*} Companies] |
328.000 |
319.000 |
|
ii In respect of
the demands raised by the Ministry of Chemicals & Fertilizers, Govt. of
India under Drug Price Control Order, 1979/1995 for difference in actual
price and price of respective bulk drug allowed while fixing the price of
certain life saving formulations and disputed by the Company, which the
Company expect to succeed based on the legal advice [Including Rs. 51 {as at
March 31, 2011: Rs. 51} Millions in respect of Amalgamated {*} Companies] |
917.000 |
66.000 |
|
iii In respect of
Income Tax matters pending before appellate authorities which the Company
expects to succeed, based on decisions of Tribunals/ Courts. |
917.000 |
66.000 |
|
iv In respect of
Sales Tax matters pending before appellate authorities/ Court which the
Company expects to succeed, based on decisions of Tribunals/ Courts. |
36.000 |
93.000 |
|
v Letters of
Credit for Imports |
46.000 |
2.000 |
|
vi The Company
has imported certain capital equipment at concessional rate of custom duty
under "Export promotion of Capital Goods Scheme" of the Central
Government. The Company has undertaken an incremental export obligation to
the extent of US $ 19 Millions [equivalent to Rs. 971 Millions
approx.{Previous reporting period: US $ 4 (equivalent to Rs. 163 Millions
approx.)}] to be fulfilled during a specified period as applicable from the
date of imports. The unprovided liability towards custom duty payable thereon
in respect of unfulfilled export obligations 156 5 [*] represents
contingent liabilities taken over by the Company under the Scheme of
Arrangement and Amalgamation of Cadila Laboratories Limited, and erstwhile
Cadila Chemicals Limited, Cadila Antibiotics Limited, Cadila Exports Limited
and Cadila Veterinary Private Limited with the Company w.e.f. June 1, 1995. |
156.000 |
5.000 |
Fixed Assets:
Ř
Ř
Ř Buildings
Ř Plant and
Machinery
Ř Furniture, Fixture
and Office Equipments
Ř Vehicles
Ř Trademarks,
Patents and Designs
Ř Technical Know-how
Ř Commercial Rights
WEBSITE DETAILS:
BUSINESS DESCRIPTION:
Subject is a pharmaceutical company, which is involved in
the business of manufacturing and marketing of pharmaceutical products, both
active pharmaceutical ingredients and finished dosage formulations. Its operations
are in Indian and several other generics markets across the globe. The Company
is also engaged into research and development in the areas of new molecular
entity (NME), novel drug delivery systems (NDDS) and generic product
development. The Company's commercial operations are in
FORMULATIONS BUSINESS –
With
three multi-therapy divisions and eight specialty divisions, Zydus Cadila is
one of the leading player in the Indian healthcare industry. It is the leading
player in the cardiovascular, gastrointestinal and women's healthcare segments.
The group has strong presence in respiratory, pain management, CNS,
anti-infectives, oncology, neurosciences, dermatology and nephrology segments.
It has been able to maintain overall position and market share through faster
growing chronic / lifestyle segments. With several new product introductions
and pillar brands such as Aten, Ocid, Deriphyllin, Pantodac, Atorva, Nucoxia,
Mifegest to name a few, Zydus Cadila is considered a tour-de-force in therapy
management and brand management. The group has several in-licensing alliances
with global multinationals such as Schering AG, Boehringer Ingelheim, Viatris,
etc.
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. 53.58 |
|
|
1 |
Rs. 86.60 |
|
Euro |
1 |
Rs. 68.94 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
Yes |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
Yes |
|
--OTHER MERIT FACTORS |
YES/NO |
Yes |
|
TOTAL |
|
64 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.