MIRA
INFORM REPORT
|
Report Date : |
01.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
DHANUKA LABORATORIES LIMITED (w.e.f 23.03.2004) |
|
|
|
|
Formerly Known
As : |
DHANUKA LABORATORIES PRIVATE LIMITED QUANTUM POLYMERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
861-862, Joshi Road, Karol Bagh, New Delhi – 110005 |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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|
Date of
Incorporation : |
24.02.1993 |
|
|
|
|
Com. Reg. No.: |
55-052285 |
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|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 49.900 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100DL1993PLC052285 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELD04043E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACD2877R |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers and Marketing of Active Pharmaceutical Ingredients and
Advanced Intermediates in the field of Cephalosporin Antibiotics. |
|
|
|
|
No. of Employees
: |
350 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 960000 |
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|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow But Correct |
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|
|
|
Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. The
profitability of the company appears to be low. The external borrowing seems
to be huge. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
We are living in a
world where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
BBB- (Fund Based Facilities) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
July 2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
A3 (Non Fund Based Facilities) |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
July 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.
INFORMATION PARTED BY
|
Name : |
Mr. Harikesh Pandey |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-124-3838500 |
|
Date : |
30.07.2013 |
LOCATIONS
|
Registered/ Head/ Corporate Office : |
861-862, |
|
Tel. No.: |
91-11-30511500 (30 Lines)/ 23518981/ 23518982/ 85/ 23518983/
23519461-63/ 23518925/ 27534112/ 23518981/ 2/ 3 |
|
Fax No.: |
91-11-23516750/ 23518981/ 124-3838888 |
|
E-Mail : |
|
|
Website : |
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|
Location : |
Commercial |
|
|
|
|
Factory/ Warehouse : |
7th KM, Old Manesar Road, Village, Mohammedpur, Gurgaon –
122001, Haryana, India |
|
Tel. No.: |
91-124-3838500 / 2371884/ 2372715/ 2373845/ 6 |
|
Fax No.: |
91-124-2371931 |
|
Area : |
3000 sq. meters |
|
Location: |
Owned Industrial |
DIRECTORS
AS ON 27.09.2012
|
Name : |
Mr. Manish Dhanuka |
|
Designation : |
Managing Director |
|
Address : |
4/31-B, |
|
Date of Birth/Age : |
28.09.1967 |
|
Qualification : |
M. Tech |
|
Date of Appointment : |
30.12.1994 |
|
PAN No.: |
AAEPD0075G |
|
DIN No.: |
00238798 |
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 |
U74899DL1990PTC040509
|
DUKE IMPEX
PRIVATE LIMITED |
Director |
15/06/1990 |
15/06/1990 |
Active |
NO |
|
2 |
U24100DL1993PLC052285
|
DHANUKA
LABORATORIES LIMITED |
Managing
director |
01/03/2009 |
24/02/1993 |
Active |
NO |
|
3 |
U24239DL2006PTC144368
|
OTSUKA CHEMICAL
(INDIA) PRIVATE LIMITED |
Director |
02/01/2006 |
02/01/2006 |
Active |
NO |
|
4 |
U74899DL1984PTC029568
|
COSMO COMPONENTS
PRIVATE LIMITED |
Director |
13/02/2007 |
13/02/2007 |
Active |
NO |
|
Name : |
Mr. Arun Kumar Dhanuka |
|
Designation : |
Director |
|
Address : |
4/31-B, |
|
Date of Birth/Age : |
14.05.1957 |
|
Qualification : |
Commerce Graduate |
|
Date of Appointment : |
24.02.1993 |
|
PAN No.: |
AAFPD3685B |
|
DIN No.: |
00627425 |
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 |
U74899DL1960PLC003276
|
NORTHERN
MINERALS LIMITED |
Whole-time
director |
08/08/1980 |
08/08/1980 |
Amalgamated |
NO |
|
2 |
U74899DL1987PTC029586
|
GROWTH
ADVERTISING AND MARKETING PRIVATE LIMITED |
Director |
17/05/1990 |
17/05/1990 |
Active |
NO |
|
3 |
U24100DL1993PLC052285
|
DHANUKA
LABORATORIES LIMITED |
Director |
24/02/1993 |
24/02/1993 |
Active |
NO |
|
4 |
U74899DL1990PTC040509
|
DUKE IMPEX
PRIVATE LIMITED |
Director |
13/02/2007 |
13/02/2007 |
Active |
NO |
|
5 |
L24219DL1985PLC020126
|
DHANUKA AGRITECH
LIMITED |
Whole-time
director |
01/08/2008 |
23/05/2007 |
Active |
NO |
|
Name : |
Mrs. Seema Dhanuka |
|
Designation : |
Director |
|
Address : |
4/31-B, |
|
Date of Birth/Age : |
26.05.1969 |
|
Qualification : |
Commerce Graduate |
|
Date of Appointment : |
21.09.1996 |
|
PAN No.: |
AAEPD0576A |
|
DIN No.: |
00455088 |
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 |
U24100DL1993PLC052285
|
DHANUKA
LABORATORIES LIMITED |
Director |
21/09/1996 |
21/09/1996 |
Active |
NO |
|
2 |
U74899DL1984PTC018862
|
LIBERTY SALES
PRIVATE LIMITED |
Director |
13/02/2007 |
13/02/2007 |
Active |
NO |
|
Name : |
Mr. Mahendra Kumar Dhanuka |
|
Designation : |
Director |
|
Address : |
95-B, E-2, Lane, Eastern Avenue, Sainik Farms, |
|
Date of Birth/Age : |
14.12.1954 |
|
Qualification : |
Commerce Graduate |
|
Date of Appointment : |
02.03.1999 |
|
DIN No.: |
00628039 |
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 |
L24219DL1985PLC020126
|
DHANUKA AGRITECH
LIMITED |
Managing
director |
14/08/2009 |
13/02/1985 |
- |
Active |
NO |
|
2 |
U24100DL1993PLC052285
|
DHANUKA
LABORATORIES LIMITED |
Director |
02/03/1999 |
02/03/1999 |
- |
Active |
NO |
|
3 |
U51109DL2004PTC128122
|
GOLDEN OVERSEAS
PRIVATE LIMITED |
Director |
05/12/2005 |
05/12/2005 |
- |
Active |
NO |
|
4 |
U74994DL2006PTC147162
|
MADHURI
DESIGNS-N-EXPORTS PRIVATE LIMITED |
Director |
06/03/2006 |
06/03/2006 |
- |
Strike off |
NO |
|
5 |
U72200DL2006PTC147749
|
DHANUKA INFOTECH
PRIVATE LIMITED |
Director |
20/03/2006 |
20/03/2006 |
- |
Active |
NO |
|
6 |
U70101DL2005PTC135106
|
M D BUILDTECH
PRIVATE LIMITED |
Director |
30/09/2010 |
04/09/2010 |
- |
Active |
NO |
|
Name : |
Mr. Rahul Kumar Dhanuka |
|
Designation : |
Director |
|
Address : |
95-A, E-2, Lane, Eastern Avenue, Sainik Farms, |
|
Date of Birth/Age : |
04.04.1975 |
|
Qualification : |
MBA |
|
Date of Appointment : |
02.03.1999 |
|
DIN No.: |
00150140 |
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 |
U74899DL1960PLC003276
|
NORTHERN
MINERALS LIMITED |
Whole-time
director |
11/12/1995 |
11/12/1995 |
- |
Amalgamated |
NO |
|
2 |
L65921DL1984PLC018746
|
EXCLUSIVE
LEASING AND FINANCE LIMITED |
Director |
20/01/1999 |
20/01/1999 |
29/03/2011 |
Active |
NO |
|
3 |
U24100DL1993PLC052285
|
DHANUKA
LABORATORIES LIMITED |
Director |
02/03/1999 |
02/03/1999 |
- |
Active |
NO |
|
4 |
L24219DL1985PLC020126
|
DHANUKA AGRITECH
LIMITED |
Whole-time
director |
01/05/2012 |
28/01/2002 |
- |
Active |
NO |
|
5 |
U70101DL2005PTC135106
|
M D BUILDTECH
PRIVATE LIMITED |
Director |
20/04/2005 |
20/04/2005 |
04/09/2010 |
Active |
NO |
|
6 |
U51109DL2004PTC128122
|
GOLDEN OVERSEAS
PRIVATE LIMITED |
Director |
05/12/2005 |
05/12/2005 |
- |
Active |
NO |
|
7 |
U72200DL2006PTC147749
|
DHANUKA INFOTECH
PRIVATE LIMITED |
Director |
20/03/2006 |
20/03/2006 |
04/09/2010 |
Active |
NO |
|
Name : |
Mr. Mridul Dhanuka |
|
Designation : |
Director |
|
Address : |
95-B, E-2, Lane, Eastern Avenue, Sainik Farms, |
|
Date of Birth/Age : |
20.10.1980 |
|
Qualification : |
B Tech, MBA |
|
Date of Appointment : |
06.10.2005 |
|
DIN No.: |
00199441 |
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 |
U70101DL2005PTC135106
|
M D BUILDTECH
PRIVATE LIMITED |
Director |
20/04/2005 |
20/04/2005 |
- |
Active |
NO |
|
2 |
U24100DL1993PLC052285
|
DHANUKA
LABORATORIES LIMITED |
Director |
06/10/2005 |
06/10/2005 |
- |
Active |
NO |
|
3 |
U24239DL2006PTC144368
|
OTSUKA CHEMICAL
(INDIA) PRIVATE LIMITED |
Director |
02/01/2006 |
02/01/2006 |
- |
Active |
NO |
|
4 |
U74899DL1960PLC003276
|
NORTHERN
MINERALS LIMITED |
Whole-time
director |
15/03/2007 |
15/03/2007 |
- |
Amalgamated |
NO |
|
5 |
L34300DL1985PLC021785
|
HINDON
MERCANTILE LIMITED |
Director |
07/09/2010 |
16/12/2009 |
25/03/2011 |
Active |
NO |
|
6 |
L65921DL1984PLC018746
|
EXCLUSIVE
LEASING AND FINANCE LIMITED |
Director |
10/09/2010 |
17/12/2009 |
23/05/2011 |
Active |
NO |
|
7 |
U72200DL2006PTC147749
|
DHANUKA INFOTECH
PRIVATE LIMITED |
Director |
30/09/2010 |
04/09/2010 |
- |
Active |
NO |
|
8 |
L24219DL1985PLC020126
|
DHANUKA AGRITECH
LIMITED |
Whole-time
director |
29/07/2011 |
23/05/2011 |
- |
Active |
NO |
|
Name : |
Mr. Arjun Dhanuka |
|
Designation : |
Director |
|
Address : |
4/31-B, |
|
Date of Birth/Age : |
10.03.1988 |
|
Qualification : |
Commerce Graduate |
|
Date of Appointment : |
18.08.2008 |
|
PAN No.: |
AJLPD6285C |
|
DIN No.: |
00454689 |
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 |
U74899DL1984PTC018862
|
LIBERTY SALES
PRIVATE LIMITED |
Director |
13/02/2007 |
13/02/2007 |
Active |
NO |
|
2 |
U24100DL1993PLC052285
|
DHANUKA
LABORATORIES LIMITED |
Whole-time
director |
28/09/2010 |
18/08/2008 |
Active |
NO |
|
Name : |
Mrs. Urmila Dhanuka |
|
Designation : |
Director |
|
Address : |
95-A, E-2, Lane, Eastern Avenue, Sainik Farms, |
|
Date of Birth/Age : |
15.08.1951 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
24.10.2001 |
|
PAN No.: |
AAAPD1027E |
|
DIN No.: |
01252045 |
KEY EXECUTIVES
|
Name : |
Mr. Harikesh Pandey |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2012
|
Names of Shareholders |
No. of Shares |
|
Arun Kumar
Dhanuka |
43750 |
|
Manish Dhanuka |
15640 |
|
Mamta Dhanuka |
49190 |
|
Seema Dhanuka |
3700 |
|
Arun Kumar Dhanuka
(HUF) |
1000 |
|
Duke Impex
Private Limited, |
9850 |
|
Growth
Advertising and Marketing Private Limited , |
9750 |
|
Cosmo Components
Private Limited , |
10200 |
|
Late Gobind Lal
Dhanuka (HUF) |
10000 |
|
Liberty Sales Private
Limited, |
12250 |
|
Pushpa Dhanuka |
57510 |
|
Manish Dhanuka
(HUF) |
3850 |
|
Exclusive Leasing
and Finance Limited, |
10200 |
|
Hindon Mercantile
Limited, |
20300 |
|
Mridul Dhanuka |
1000 |
|
Reema Khowala |
1000 |
|
Rahul Dhanuka |
23100 |
|
Ram Gopal Agarwal |
14250 |
|
Mahendra Kumar
Dhanuka |
17250 |
|
Zoom Leasing and
Finance Company Limited, |
24800 |
|
Megha Chripal |
1700 |
|
Vimal Shorewala |
10 |
|
Sikkim Agro
Industrial Limited, |
13500 |
|
Harsh Dhanuka |
15000 |
|
Uma Dhanuka |
33500 |
|
Versha Dhanuka |
1100 |
|
M.K. Dhanuka
(HUF) |
4400 |
|
R.G. Aggarwal
(HUF) |
12000 |
|
Rahul Dhanuka
(HUF) |
2000 |
|
Golden Overseas
Private Limited , India |
22200 |
|
Mridul Dhanuka
(HUF) |
10000 |
|
Urmila Dhanuka |
15000 |
|
Arjun Dhanuka |
20000 |
|
Harsh Dhanuka (HUF) |
10000 |
|
TOTAL
|
499000 |
AS ON 27.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
26.66 |
|
Directors or relatives of Directors |
73.34 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Marketing of Active Pharmaceutical Ingredients and Advanced
Intermediates in the field of Cephalosporin Antibiotics. |
||||
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Products : |
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Terms : |
|
||||
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Selling : |
L/C, Credit |
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|
Purchasing : |
L/C, Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Actual Production |
|
Bulk Drugs and Intermediates |
Kgs. |
157778 |
|
Others |
Kgs. |
154580 |
GENERAL INFORMATION
|
Customers : |
Manufacturing Company |
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|
No. of Employees : |
350 (Approximately) |
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Bankers : |
·
HDFC
Bank Limited, HDFC bank House, Senapati Bapat Marg, Lower Parel (West),
Mumbai-400013, Maharashtra, India Tel No.:- 91-22-66521308 ·
Indusind
Bank Limited, 2401, Gen Thimmayya Road, Contonment, Pune-411001, Maharashtra,
India ·
Yes bank limited ·
Barclays bank plc. ·
Corporation Bank ·
ICICI Bank Limited |
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Facilities : |
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Goyal Malhotra
and Associates Chartered
Accountants |
|
Address : |
307, |
|
Tel. No.: |
91-120-2510511/ 2514317/ 4261900 |
|
Fax No.: |
91-120-2514317 |
|
E-Mail : |
|
|
PAN No.: |
AAKFA1724D |
|
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|
|
Related Parties : |
Dhanuka Agritech Limited CIN No.:-
L24219DL1985PLC020126 Growth
Advertising And Marketing Private Limited CIN No.:- U74899DL1987PTC029586 Liberty Sales
Private Limited CIN No.:- U74899DL1984PTC018862 Duke Impex
Private Limited CIN No.:- U74899DL1990PTC040509 Cosmo Components
Private Limited CIN No.:- U74899DL1984PTC029568 |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.100/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
499000 |
Equity Shares |
Rs.100/-
each |
Rs. 49.900
Millions |
|
|
|
|
|
AS ON 27.09.2012
Authorised Capital : Rs. 80.000
Millions
Issued, Subscribed & Paid-up Capital : Rs. 79.900 Millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
49.900 |
49.900 |
|
(b) Reserves & Surplus |
|
190.901 |
169.764 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
240.801 |
219.664 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
421.390 |
313.485 |
|
(b) Deferred tax liabilities (Net) |
|
48.729 |
44.515 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
470.119 |
358.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
566.227 |
226.715 |
|
(b) Trade payables |
|
613.092 |
437.114 |
|
(c) Other current
liabilities |
|
33.385 |
23.965 |
|
(d) Short-term provisions |
|
12.382 |
10.926 |
|
Total Current Liabilities (4) |
|
1225.086 |
698.720 |
|
|
|
|
|
|
TOTAL |
|
1936.006 |
1276.384 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
447.574 |
349.988 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
1.493 |
0.696 |
|
(b) Non-current Investments |
|
101.500 |
101.500 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
0.000 |
5.904 |
|
Total Non-Current Assets |
|
550.567 |
458.088 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
249.345 |
247.671 |
|
(c) Trade receivables |
|
759.591 |
421.194 |
|
(d) Cash and cash
equivalents |
|
264.634 |
54.638 |
|
(e) Short-term loans and
advances |
|
58.109 |
58.364 |
|
(f) Other current assets |
|
53.760 |
36.429 |
|
Total Current Assets |
|
1385.439 |
818.296 |
|
|
|
|
|
|
TOTAL |
|
1936.006 |
1276.384 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
49.900 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
148.800 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
198.700 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
245.049 |
|
|
2] Unsecured Loans |
|
|
177.401 |
|
|
TOTAL BORROWING |
|
|
422.450 |
|
|
DEFERRED TAX LIABILITIES |
|
|
41.751 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
662.901 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
292.829 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
101.500 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
176.178
|
|
|
Sundry Debtors |
|
|
363.849
|
|
|
Cash & Bank Balances |
|
|
34.145
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
59.548
|
|
Total
Current Assets |
|
|
633.720 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
338.782
|
|
|
Other Current Liabilities |
|
|
11.477
|
|
|
Provisions |
|
|
14.889
|
|
Total
Current Liabilities |
|
|
365.148 |
|
|
Net Current Assets |
|
|
268.572
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
662.901 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2041.544 |
1605.091 |
1528.832 |
|
|
|
Other Income |
0.000 |
0.000 |
19.593 |
|
|
|
TOTAL (A) |
2041.544 |
1605.091 |
1548.425 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1640.141 |
|
1420.700 |
|
|
|
Employee benefit expense |
57.351 |
46.442 |
|
|
|
|
Other expenses |
227.399 |
174.278 |
|
|
|
|
Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
(4.392) |
(53.075) |
|
|
|
|
TOTAL (B) |
1920.499 |
1507.644 |
1420.700 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
121.045 |
97.447 |
127.725 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
69.980 |
49.879 |
46.759 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
51.065 |
47.568 |
80.966 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
19.246 |
17.500 |
16.417 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
31.819 |
30.068 |
64.549 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
10.683 |
9.104 |
22.894 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
21.136 |
20.964 |
41.655 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
107.027 |
86.063 |
44.408 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
128.163 |
107.027 |
86.063 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
814.048 |
282.754 |
336.881 |
|
|
|
Export Technical Service |
9.151 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
823.199 |
282.754 |
336.881 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
791.463 |
704.092 |
537.376 |
|
|
|
Components |
0.000 |
0.267 |
0.049 |
|
|
|
Capital Goods |
2.447 |
1.033 |
1.117 |
|
|
|
Interest Paid For Fixed Assets |
1.438 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
795.348 |
705.392 |
538.542 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
42.36 |
42.01 |
94.32 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.04
|
1.31 |
2.69
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.56
|
1.87 |
4.22
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.74
|
2.56 |
6.97
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.14 |
0.32
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.10
|
2.46 |
2.13
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13
|
1.17 |
1.74
|
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter 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 |
Yes |
|
UNSECURED LOAN |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Long Term
Borrowings |
|
|
|
Loans and Advances From Related Parties |
27.305 |
29.355 |
|
Loans and Advances From Others |
305.150 |
210.800 |
|
|
|
|
|
TOTAL |
332.455 |
240.155 |
VIEW INDEX OF
CHARGES
|
S.
No. |
Charge
ID |
Date
of Charge Creation/Modification |
Charge
amount secured |
Charge
Holder |
Address
|
Service
Request Number (SRN) |
|
1 |
10347345
|
21/02/2012
|
550,000.00
|
CORPORATION BANK |
SCF 87/88, SHOPPING AREA,
SECTOR-14, GURGAON, HARYANA - 122001, INDIA |
B36898104
|
|
2 |
10328109
|
01/06/2012
* |
110,000,000.00
|
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE,
DISCOVERY OF INDIA, DR. |
B41989625
|
|
3 |
10268229
|
26/08/2011
* |
84,500,000.00
|
BARCLAYS BANK PLC. |
GROUND FLOOR, EROS CORPORATE TOWER,
NEHRU PLACE, |
B21377056
|
|
4 |
10174226
|
16/11/2011
* |
100,000,000.00
|
HDFC BANK LIMITED |
FIRST FLOOR, KAILASH BUILDING,
26, K.G.MARG, NEW DELHI, NEW DELHI, DELHI - 110001, INDIA |
B26750976
|
|
5 |
10113352
|
23/11/2010
* |
730,000,000.00
|
CORPORATION BANK INDUSTRIAL
FINANCE BRANCH |
10TH, FLOOR H.T. HOUSE, K.G.
MARG CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
B03717220
|
|
6 |
10054143
|
16/02/2013
* |
150,000,000.00
|
INDUSIND BANK LIMITED |
DR. GOPAL DAS BHAWAN, 28,
BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
B72797764
|
|
7 |
10041966
|
17/02/2012
* |
389,000,000.00
|
CORPORATION BANK |
SCF 87/88, SHOPPING AREA, SECTOR-14,
GURGAON, HARYANA - 122001, INDIA |
B36898823
|
|
8 |
10025720
|
13/10/2006
|
63,000,000.00
|
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE,
ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
A05913884
|
|
9 |
80000210
|
01/06/2012
* |
100,000,000.00
|
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT
MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B44326981
|
|
10 |
90056775
|
28/10/2002
* |
12,700,000.00
|
THE HARYANA FINANCIAL
CORPORATION |
17;18&19;SECTOR 17-A, CHANDIGARH,
CHANDIGARH, INDIA |
- |
|
* Date of charge modification |
||||||
OPERATIONS
The Company has
been able to surpass the target and achieved a Gross Turnover of Rs.2189.577
Millions. During this period, the Company has exported goods worth Rs.861.388
Millions. The Net Profit during this period was Rs.21.137 Millions after
providing for Interest, Income Tax and Depreciation. The provision for Income
Tax amounting to Rs.6.484 Millions has been made. A provision of Rs.4.214
Millions for deferred tax liability has also been made.
The Company
continues to be strong in third and fourth generation cephalosporin Active
Pharmaceutical Ingredients and its intermediates. The Company continues to
enjoy the patronization of topmost and prestigious Pharma Companies in the
country due to its consistency and good quality. The Company continues to
achieve a significant market share in Cephalosporin production in the country.
The financial year 2011-2012 was very turbulent with respect to the
Cephalosporin industry due to creation of large capacities in India. However,
it is important to note that despite the stiff competition, the Company continues
to grow in all the products and maintain its strong presence in the segment. It
is expected that the industry will consolidate in near future and the margins
will increase, which will lead to better bottom line.
FUTURE PROSPECTS
The Company is
further putting efforts in R and D to develop two new products, one of which,
Cefditoren Pivoxil would be launched during the current Financial Year. The
Company was able to successfully commercialize production of GCTA which was
supplied to Otsuka Chemical, Japan. This product will have significant sales in
current year and it will result in significant growth in revenues and profit.
The Company is focusing on increasing exports to reduce the risk of foreign
currency fluctuations and to increase profitability. These measures are
expected to yield better results in the current financial year and in future.
FIXED ASSETS
·
Air
conditioner
·
Building
·
Cellular
Phone
·
Computer
·
Electric
Equipments
·
Fire
Fighting
·
Furniture
and Fixture
·
Laboratories
Equipments
·
Land
·
Office
Equipment
·
Plant
and machinery
·
Steel
Structure
·
Vehicles
·
Commercial
Vehicles
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. 61.11 |
|
|
1 |
Rs. 92.97 |
|
Euro |
1 |
Rs. 80.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
34 |
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.