MIRA
INFORM REPORT
|
Report Date : |
26.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHARON BIO- MEDICINE LIMITED |
|
|
|
|
Registered
Office : |
W-34, 34/1 M.I.D.C., Taloja, Raigad-410208, Maharashtra |
|
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|
Country : |
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Financials (as
on) : |
30.06.2012 |
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|
|
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Date of
Incorporation : |
19.06.1989 |
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|
|
|
Com. Reg. No.: |
11-52251 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs.105.569 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24110MH1989PLC052251 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS19367F |
|
|
|
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PAN No.: [Permanent Account No.] |
AAACS8457L |
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|
Legal Form : |
A Public Limited Liability Company. The company’s shares are listed on
stock exchange. |
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|
|
|
Line of Business
: |
Subject is engaged in Bulk Drugs and Drug Intermediates. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 9500000 |
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|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having a satisfactory track record. There appears continuous dip in the share price of the company. The
company has achieved some growth in its turnover during 2012. Trade relations are fair. Business is active. Payment terms are
usually correct. The company can be considered 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
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
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took
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
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = BB+ (Under
credit watch) |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
April 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A4+ (Under
credit watch) |
|
Rating Explanation |
Minimal degree of safety and very high credit
risk. |
|
Date |
April 2013 |
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/ Factory 1 : |
W-34, 34/1 M.I.D.C., Taloja, Raigad-410208, Maharashtra, India |
|
Tel. No.: |
91-22-27410490/ 27902070 |
|
Fax No.: |
91-22-27411394 |
|
E-Mail : |
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|
Website : |
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Head Office / Corporate Office: |
Sharon House, Plot No. 163, SMT Janakidevi Public School Road, SVP
Nagar, Andheri (West), Mumbai-400053, Maharashtra, India |
|
|
|
|
Factory 2 : |
Khasra No. 1027, 1028, 1030 and 1037, Central Hope Town, Sillaqui,
District Dehradoon-248197, Uttaranchal, India |
|
|
|
|
Factory 3 : |
Plot No. L-6, MIDC, Taloja, District Raigad, Maharashtra, India |
|
|
|
|
Factory 4 : |
Plot No. V/10, MIDC, Taloja, Dist. Raigad, Mumbai - 410 208,
Maharashtra, India |
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|
|
Administrative Office: |
312, C Wing, BSEL Tech Park, Sector – 30 (A), Vashi, Navi
Mumbai-400005, Maharashtra , India |
DIRECTORS
As on 30.06.2012
|
Name : |
Ms. Savita Gowda |
|
Designation : |
Chief Executive Officer Managing Director |
|
Qualification : |
BSC (Chemistry) MBA |
|
|
|
|
Name : |
Mr. Lalita Misra |
|
Designation : |
Whole Time Director |
|
Qualification : |
Post Graduate in Business Administration From Derbyshire Business
School, United and Graduate in B.E (Chemical) |
|
|
|
|
Name : |
Mr. Mohan P Kala |
|
Designation : |
Director |
|
Qualification : |
Chartered Accountant |
|
Date of Appointment : |
13.02.1995 |
|
|
|
|
Name : |
Mr. Vijay Kirpalani |
|
Designation : |
Whole Time Director |
|
Qualification : |
B.E in Chemical |
|
|
|
|
Name : |
Dr. V N Badoni |
|
Designation : |
Non-Executive Directors |
|
Qualification : |
Msc. In Chemistry |
|
|
|
|
Name : |
Mr. Drunal Shah |
|
Designation : |
Non-Executive Directors |
|
Qualification : |
B.E. (Chemical) |
|
Date of Appointment : |
25.09.2009 |
|
|
|
|
Name : |
Mr. Harish Palecanda |
|
Designation : |
Non-Executive Directors |
|
Qualification : |
B.com |
|
Date of Appointment : |
25.09.2009 |
|
|
|
|
Name : |
Mr. Sanjay Shah |
|
Designation : |
Non-Executive Directors |
|
Qualification : |
M.Sc. |
|
Date of Appointment : |
15.11.2006 |
|
|
|
|
Name : |
Dr. Nivedita Kartik Patil |
|
Designation : |
Non-Executive Directors |
|
Qualification : |
Bachelor of Medicine and Surgery and Diploma in Ophthalmic Medicine
and Surgery |
KEY EXECUTIVES
|
Name : |
Mr. Samsad Alam Khan |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Jagdish Patel and Company |
|
Designation : |
Company Secretaries (in practice) |
SHAREHOLDING PATTERN
As on 30.06.2013
|
Category of Shareholder |
No. of Shares |
% of Holdings |
|
|
|
As a % of (A+B) |
|
A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
3501450 |
33.17 |
|
|
2861325 |
27.10 |
|
|
6362775 |
60.27 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
6362775 |
60.27 |
|
(B)
Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
3083861 |
29.21 |
|
|
|
|
|
|
464019 |
4.40 |
|
|
326534 |
3.09 |
|
|
319711 |
3.03 |
|
|
162054 |
1.54 |
|
|
150000 |
1.42 |
|
|
7657 |
0.07 |
|
|
4194125 |
39.73 |
|
Total
Public shareholding (B) |
4194125 |
39.73 |
|
Total
(A)+(B) |
10556900 |
100.00 |
|
(C) Shares
held by Custodians and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
10556900 |
0.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs. 0.100 MillionBUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Bulk Drugs and Drug Intermediates. |
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Products : |
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PRODUCTION STATUS (As on 30.06.2012)
|
Particulars |
Installed
Capacity |
|
Active Pharma Ingredients |
150,000 Liters
of Reactors |
|
Formulation |
2.5bn Tablets 1 bn Capsules |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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|
Auditors : |
|
|
Name : |
Shyam C Agrawal and Company Chartered Accountant |
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|
|
|
Companies over which Key Management Personnel and their relatives have
interest: |
·
Ramco Properties Private Limited ·
Revon Finance and Investments Private Limited ·
Bagulwani General Trading Private Limited ·
Venus Finance and Investments Private Limited ·
Enki Life Science Limited (Formerly known as
Sharon Biotech Limited) ·
Nesh Pharmatech Private Limited |
|
|
|
|
Associate Firm: |
Siddhivinayak Developers |
|
|
|
|
Subsidiary Company: |
Yusur International FZE,UAE |
CAPITAL STRUCTURE
As on 30.06.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20250000 |
Equity Shares |
Rs. 10/- each |
Rs.202.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10556900 |
Equity Shares |
Rs. 10/-
each |
Rs.105.569
Millions |
Note:
|
Shareholder holding more than 5% of entire Share Capital |
No of Shares in Millions |
|
Bagulvani Trading and Investment Private
Limited |
0.824 |
|
Mohan P. Kala |
1.904 |
|
Asha Mohan Kala |
0.584 |
|
Ramco Properties Private Limited |
0.915 |
|
Revon Finance and Investment Private Limited |
1.122 |
|
Savita Satish Gowda |
0.694 |
Terms/Rights attached to equity shares:
The company has only one type of equity shares
having a par value of Rs.10 per share. Each holder of equity share is entitled
to one vote per share. In the event of liquidation of the company, the holders
of equity shares will be entitled to receive remaining assets of the company,
after distribution of all preferential amounts. The distribution will be in
proportion to the number of equity shares held by the shareholders.
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
SOURCES OF FUNDS |
|
30.06.2012 |
30.06.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
105.569 |
105.569 |
|
(b) Reserves & Surplus |
|
547.500 |
547.500 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
1727.429 |
1333.516 |
|
Total
Shareholders’ Funds (1) + (2) |
|
2380.498 |
1986.585 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1935.151 |
1307.892 |
|
(b) Deferred tax liabilities (Net) |
|
69.927 |
46.572 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
5.294 |
4.294 |
|
Total Non-current Liabilities (3) |
|
2010.372 |
1358.758 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
2688.921 |
2128.304 |
|
(b) Trade payables |
|
496.685 |
310.521 |
|
(c) Other current
liabilities |
|
50.547 |
13.036 |
|
(d) Short-term provisions |
|
113.232 |
62.233 |
|
Total Current Liabilities (4) |
|
3349.385 |
2514.094 |
|
|
|
|
|
|
TOTAL |
|
7740.255 |
5859.437 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
2013.251 |
1808.487 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
599.025 |
270.367 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
39.824 |
38.824 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
2652.100 |
2117.678 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
1962.156 |
1552.137 |
|
(c) Trade receivables |
|
2601.158 |
1925.350 |
|
(d) Cash and cash
equivalents |
|
62.822 |
38.399 |
|
(e) Short-term loans and
advances |
|
462.019 |
225.873 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
5088.155 |
3741.759 |
|
|
|
|
|
|
TOTAL |
|
7740.255 |
5859.437 |
|
SOURCES OF FUNDS |
|
|
30.06.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
105.569 |
|
|
2] Share Application Money |
|
|
80.100 |
|
|
3] Reserves & Surplus |
|
|
1044.083 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1229.752 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
2114.398 |
|
|
2] Unsecured Loans |
|
|
1311.244 |
|
|
TOTAL BORROWING |
|
|
3425.642 |
|
|
DEFERRED TAX LIABILITIES |
|
|
33.516 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
4688.910 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1837.695 |
|
|
Capital work-in-progress |
|
|
227.436 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
41.329 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
1166.661 |
|
|
Sundry Debtors |
|
|
1587.720 |
|
|
Cash & Bank Balances |
|
|
23.882 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
123.780 |
|
Total
Current Assets |
|
|
2902.043 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
263.044 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
56.621 |
|
Total
Current Liabilities |
|
|
319.665 |
|
|
Net Current Assets |
|
|
2582.378 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.072 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
4688.910 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.06.2012 |
30.06.2011 |
30.06.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
7850.614 |
6060.466 |
4964.988 |
|
|
|
Other Income |
9.269 |
11.219 |
15.697 |
|
|
|
TOTAL (A) |
7859.883 |
6071.685 |
4980.685 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases / Documentation Expenses |
6969.758 |
5433.488 |
|
|
|
|
Changes in inventories of finished goods, work in process and Stock in
trade |
(410.020) |
(385.476) |
|
|
|
|
Employee benefit expense |
139.721 |
126.450 |
|
|
|
|
Preliminary expenses written off |
0.000 |
0.072 |
|
|
|
|
Other expenses |
198.375 |
179.369 |
|
|
|
|
Exceptional Items |
0.314 |
1.610 |
|
|
|
|
TOTAL (B) |
6898.148 |
5355.513 |
4466.481 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
961.735 |
716.172 |
514.204 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
342.597 |
268.081 |
209.988 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
619.138 |
448.091 |
304.216 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
88.638 |
83.369 |
63.998 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
530.500 |
364.722 |
240.218 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
114.356 |
53.057 |
53.055 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
416.144 |
311.665 |
187.163 |
|
|
|
|
|
|
|
|
|
|
RESERVE FOR MTM DERIVATIVES WRITTEN BACK |
0.000 |
0.000 |
41.500 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
600.844 |
478.483 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
30.000 |
30.000 |
|
|
|
Reserve for Premium on FCCB |
NA |
60.750 |
57.776 |
|
|
|
Proposed Dividend |
NA |
19.002 |
15.835 |
|
|
|
Provision for Dividend Tax |
NA |
3.229 |
2.691 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
912.509 |
707.147 |
|
|
|
|
|
|
|
|
|
|
VALUE OF GOODS
EXPORTED (FOB AND SERVICE CHARGES) |
573.341 |
365.724 |
79.566 |
|
|
|
|
|
|
|
|
|
|
CIF VALUE OF
GOODS IMPORTED |
95.145 |
78.889 |
195.325 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
39.42 |
29.52 |
17.73 |
|
|
|
Diluted |
38.12 |
28.55 |
-- |
|
QUARTERLY RESULTS
|
Particulars |
30.09.2012 (1st
Quarter) |
31.12.2012 (2nd Quarter) |
31.03.2013 (3rd Quarter) |
|
Audited / UnAudited |
|
|
|
|
Net Sales |
2166.800 |
2488.400 |
2714.300 |
|
Total Expenditure |
1902.900 |
2195.400 |
2394.200 |
|
PBIDT (Excl OI) |
263.900 |
293.000 |
320.100 |
|
Other Income |
2.000 |
2.500 |
3.000 |
|
Operating Profit |
265.900 |
295.600 |
323.100 |
|
Interest |
98.000 |
107.900 |
114.500 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
167.900 |
187.700 |
208.600 |
|
Depreciation |
22.600 |
28.000 |
31.100 |
|
Profit Before Tax |
145.300 |
159.700 |
177.500 |
|
Tax |
25.500 |
27.800 |
32.300 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
119.800 |
131.900 |
145.200 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
119.800 |
131.900 |
145.200 |
KEY RATIOS
|
PARTICULARS |
|
30.06.2012 |
30.06.2011 |
30.06.2010 |
|
PAT / Total Income |
(%) |
5.29
|
5.13 |
3.76 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.75
|
6.0 |
4.84 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.43
|
6.53 |
5.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.18 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.94
|
1.73 |
3.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.52
|
1.49 |
9.08 |
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
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 |
UNSECURED LOAN
|
PARTICULARS |
30.06.2012 (Rs.
in Millions) |
30.06.2011 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Loans from related parties and others |
539.153 |
117.281 |
|
Loan from Other - FCCB |
917.813 |
748.024 |
|
Total |
1456.966 |
865.305 |
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
30.06.2012 |
30.06.2011 |
|
Letter of Credit against goods (Margin Money with bank Rs.3.269 Millions) |
29.587 |
47.230 |
|
Bank
Guarantee for MPCB |
0.143 |
0.450 |
INDEX OF CHARGE:
|
Sr .No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10430810
|
10/05/2013
|
400,000,000.00
|
INDIAN OVERSEAS BANK |
Maker Tower, E-Wing, 5th
Floor,, Cuffe Parade, Mumbai, Maharashtra - 400005, INDIA |
B76987635
|
|
2 |
10424304
|
13/04/2013
|
500,000,000.00
|
BANK OF MAHARASHTRA |
1, DR. VB GANDHI MARG,, FORT, MUMBAI,
Maharashtra |
B74632704
|
|
3 |
10378866
|
28/09/2012
|
380,000,000.00
|
UNION BANK OF INDIA |
Oversea Branch,Ground
Floor,Union Bank Bhavan,, 2 |
B59018671
|
|
4 |
10362711
|
18/05/2012
|
406,800,000.00
|
CATHOLIC SYRIAN BANK LIMITED |
D. N. NAGAR, LINK ROAD,,
ANDHERI WEST, MUMBAI, Maharashtra - 400053, INDIA |
B42495218
|
|
5 |
10351226
|
20/04/2012
|
56,018,335.00
|
SIEMENS FINANCIAL SERVICES
PRIVATE LIMITED |
130, PANDURANG BUDHKAR MARG,
WORLI, MUMBAI, Maharashtra - 400018, INDIA |
B38014361
|
|
6 |
10348073
|
30/03/2012
|
73,483,686.00
|
SIEMENS FINANCIAL SERVICES
PRIVATE LIMITED |
130, PANDURANG BUDHKAR MARG,
WORLI, MUMBAI, Maharashtra - 400018, INDIA |
B37115268
|
|
7 |
10349324
|
06/03/2012
|
60,025,000.00
|
SREI Equipment Finance Private
Limited |
'VISHWAKARMA', 86C, TOPSIA
ROAD, KOLKATA, West Bengal - 700046, INDIA |
B37464146
|
|
8 |
10317497
|
19/07/2012
* |
250,000,000.00
|
ALLAHABAD BANK |
Industrial Finance Br, Second
Floor, All. Bank Bldg , 37,Mumbai Samachar Marg, Fort, Mumbai, Maharashtra -
400023, INDIA |
B45649324
|
|
9 |
10321181
|
14/10/2011
|
150,000,000.00
|
PUNJAB NATIONAL BANK |
BO : MID CORPORATE BRANCH,
BRADY HOUSE, V N ROAD, FORT MUMBAI, MUMBAI, Maharashtra - 400023, INDIA |
B26888610
|
|
10 |
10294286
|
19/07/2012
* |
3,650,000,000.00
|
State Bank of India |
Overseas Branch, 2nd Floor, The
Arcade,, World Trade Centre, Cuffe Parade, MUMBAI, Maharashtra - 400005,
INDIA |
B57569147
|
* Date of charge modification
OPERATIONAL
PERFORMANCE:
The year witnessed achievement of milestone by the Company, in terms of
its total income, both on Standalone and consolidated basis. The Report reviews
the company's operations covering products of APIs, API- intermediates, Bulk
Drugs, formulations, Oral Dosages, Ointments, Tabsules, Capsules, Tablets,
Research and Development and Toxicology .
PERFORMANCE
REVIEW:
While Standalone above total Income stood at Rs 7859.883 Millions the
consolidated turnover was Rs. 8041.378 Millions. The Standalone Profit in
current year 2011-12 is Rs. 416.144 Millions against Rs. 311.665 Millions in
the previous year 2010 – 2011.
The company have booked total sales by enhancing 29.54% of sales as
compared to last year. During the
last fiscal year the company had
achieved net profit of 416.144
Millions showing an appreciation of 33.52% on an
annualized basis.
FINANCE:
During the year the Company has availed additional Working Capital Loans
from Axis Bank Limited.
MANAGEMENT
DISCUSSION AND ANALYSIS
The Year 2011-12:
During the current year sales of the Company have grown from Rs 6060.500
Millions during the previous to current year Rs 7850.600 Millions. In
percentage terms the growth was 29.54% accordingly, profit of the Company has
gone up from Rs 311.700 Millions during the previous years to Rs 416.100
Millions during the current year. Therefore, growth of net profit of 33.50% has
been achieved if compared to last year.
During the year 2011-12, exports of the Company have gone up from Rs
365.700 Millions to Rs 573.300 Millions if compared to last year. There are
almost 44 of countries where their Company has started selling the products and
they would like add more and more countries in future however, focus will be
more into developed countries.
Their Company has filed 4 AND As
and also
applied for US FDA approvals in the month of February, 2012 for its two plants, namely at Taloja (Near Navi
Mumbai) and Dehradun. They expect the USFDA approvals before 31.03.2013.
As per estimate, by 2020, India is going to be the T op 10 Pharma market
globally. Focusing on the same, Sharon has already its presence in Indian
market for the last 5 years
and has started
marketing of its products
not only in northern states but
also in eastern states of India.
Sharon, through its technology achievements has developed a Chiral
Technology and Govt of India Dept of Science and Technology has appreciated the
Research and Development done by Sharon and as an Incentive has given grant of
Rs 69.000 Millions during the year. So also in Toxicology, Sharon has been
given Good Laboratory Practice (GLP) certificate by the Science and Technology
Dept, Govt of India which is valid throughout the OECD (Organization of
Economic Corporation and Developments) countries. OECD comprises of all
developed countries.
Apart from receiving the certificates of GLP by Govt. of India, Dept of
Science and Technology, their Company has been allotted 2 Research and Development
Laboratories Certified by Govt. of India, Ministry of Science and Technology.
Due to the Certificate from Dept of Science and Technology, Govt. of
India, New Delhi, their Company will get 200% deduction in Income tax, out of
money spent on Research and Developments during every year till the time
certificate is valid which will ultimately save Income tax of their Company in
future.
Further, during the last year, they have been audited by many countries
and they have certified their plants fit for sale of their products to their
countries. Mainly, these countries are Australia, Canada, Korea apart from
United Kingdom which has already approved their plants. All these
certifications not only increases the business and margins of the Company but also
increases the valuation of the plants and company management. This leads to
overall valuation of the Company in future.
The Year 2012-13:
During the year 2012-13 Sharon expects to increase its turnover by 35%
and also the margins. To achieve this target, their Company has got many
approvals from many countries and Sharon expects to get USFDA approval by March
2013. Further, during the year 2012-13, Sharon is increasing its capacity after
doing the expansion in Dehradun as well as in Taloja. They had constructed
additional building previously and Sharon
would like to add Godown and
Raw Material stores in
the same vicinity and put
additional machineries for
production.
In immediate future, Sharon would like to increase its sales market size
not only in India but also abroad including United State. There are lots of
Potentials for Indian Companies abroad however, one should have best of the
facilities to manufacture the products. Today, Sharon has got best of the
production facilities and its products and would like to sell the products
worldwide. Undoubtedly, Sharon management is fully dedicated and is working
hard to achieve this goal and is confident that going forward Sharon will be a
leading Pharma Company in India
INDIAN PHARMA IN
2020
India's pharmaceutical industry is on good growth trajectory and is
likely to be among the top 10 global markets in value terms by 2020, according
to a CII-PWC report released recently. Experts believe that the industry has
the potential to grow at an accelerated 15-20 per cent CAGR for the next 10
years to reach between USD 49 billion to USD 74 billion in 2020.
The industry has seen many regulatory interventions over the last one
year which will require careful consideration by pharma companies as they plan
their future strategies, The challenge for India is to make sure that Indian
companies get lot of innovative medicines to their country for untreated
clinical needs, as India have enough producers for molecules in the most
competitive market as industry needs to climb up on innovation graph.
This year, the New Drug Advisory Committee (NDAC) has approved only nine
drugs for clinical trials. According to PWC, emerging markets will be the next
major growth drivers for the global pharma industry with more than 40 per cent
of incremental growth coming from emerging economies in the next decade. As per
PWC estimates, the total expenditure on healthcare in these markets is likely
to grow from USD 205 billion to USD 499 billion
by 2020, with
most markets expected
to grow at
double digit rates.
By 2020, the BRIC countries alone are going to account for 33 per cent
of world's GDP, that is up 25 per cent from 2009 said PWC.
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Lab Equipments
·
Electrical Fittings
·
Office Equipments
·
Motor Car
·
Furniture and Fixture
·
Telephone System
·
Computer
·
Air Conditioners
PRESS RELEASES
SHARON BIO MEDICINE: -SA-FORD-GLP TOXICOLOGY APPROVAL IN ARGENTINA
June 11, 2013
Sharon Bio-Medicine has informed
that Company's Toxicology Laboratory namely SA-FORD, which is approved by
Organisation of Economic Development and Cooperation (OECD) countries has also
got the approval from SENASA a Toxicology approval authority of Govt of
Argentina.
Sharon Bio-Medicine Ltd has informed BSE that Company's
Toxicology Laboratory namely SA-FORD, which is approved by Organisation of
Economic Development and Cooperation (OECD) countries has also got the approval
from SENASA a Toxicology approval authority of Govt of Argentina. With this
approval the Company can do toxicology studies of various chemicals including
agricultural products of Argentine Companies and Govt. bodies. In future,
company management will try to get more and more Toxicology Study approvals
from other countries so as to boost the revenue of the company. Company's
Toxicology Laboratories is an independent cost centre and is approved by
Department of Science and Technology, Govt of India. Govt. of India has
approved Good Laboratory Certificate to SA-FORD which is valid as per OECD
Countries - GLP. studies. Source: BSE
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. 64.69 |
|
|
1 |
Rs. 100.79 |
|
Euro |
1 |
Rs. 86.30 |
INFORMATION DETAILS
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.