MIRA
INFORM REPORT
|
Report Date : |
04.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
INDIAN IMMUNOLOGICALS LIMITED |
|
|
|
|
Registered
Office : |
Road No. 44, Jubilee Hills, Hyderabad – 500033, Andhra Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
08.10.1999 |
|
|
|
|
Com. Reg. No.: |
01-032666 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 90.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200AP1999PLC032666 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDI00945A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAAC16620F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
Line of Business
: |
Subject is engaged in the business of manufacturing, procuring and selling veterinary vaccines, human health vaccines, animal health products, livestock productivity and cattle feed. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
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 |
|
Maximum Credit Limit : |
USD 6900000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is a well established and reputed company having fine track record.
Financial position of the company appears sound and healthy networth of the
company is strong. The rating also take into consideration the strong financial support
from its parent, National Dairy Development Board (NDDB). Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. 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 – 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
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act replaces
a 119 year old registration. The Securities and Exchange Board of India has
approved the trading of currency futures on the Bombay Stock Exchange. The
exchange plans to launch the currency futures platform with advanced trading
technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: (AA-) |
|
Rating Explanation |
High degree of safety. It carry very low
credit risk. |
|
Date |
09.01.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: (A1+) |
|
Rating Explanation |
Highest degree of safety and carry lowest
credit risk. |
|
Date |
09.01.2013 |
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 : |
Road No. 44, Jubilee Hills, Hyderabad – 500033, Andhra Pradesh, India |
|
Tel. No.: |
91-40-23544585/ 23544593 |
|
Fax No.: |
91-40-23544007 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
3500 sq. ft |
|
Location : |
Owned |
|
|
|
|
Factory : |
Rakshapuram, Ganchibowli, |
|
Tel. No.: |
91-40-23000211/23000212/23000512 |
|
Fax No.: |
91-40-23000213 |
|
|
|
|
Representative Office |
Indian Immunologicals Limited Unit 620-1, 7th Floor, Melinh Point Tower, 02-Ngo Due Ke Street,
District 1, Ho Chi Minh City, Vietnam. |
|
Tel. No.: |
84-906836528 |
|
|
|
|
Human Biologicals Institute : |
Kozipannai, Pudumund, Udhagamandalam, Ooty - 643 007, Tamilnadu |
|
Tel. No.: |
91-423-2443186 |
|
Fax No. : |
91-423-2442048 |
DIRECTORS
As on: 10.09.2013
|
Name : |
Ms. Amrita H Patel |
|
Designation : |
Chairman |
|
Address : |
‘Savita’ Bikhabhai Marg, Vallabh Vidya Nagar, Anand – 388120, |
|
Date of Birth/Age : |
13.11.1943 |
|
Date of Appointment : |
08.10.1999 |
|
DIN No.: |
00065052 |
|
|
|
|
Name : |
Mr. Deepak Tikku |
|
Designation : |
Director |
|
Address : |
A-1, NDDB Campus, Anand – 388001, |
|
Date of Birth/Age : |
19.06.1948 |
|
Date of Appointment : |
08.10.1999 |
|
DIN No.: |
00064125 |
|
|
|
|
Name : |
Mr. Balsubramaniam K. V |
|
Designation : |
Director |
|
Address : |
66, ‘Swathi’ Asbestos Colony, HACP, Kharkhana, Secunderabad – 500009, |
|
Date of Birth/Age : |
27.11.1957 |
|
Qualifications: |
B.E (MECH), IIM Ahmedabad |
|
Date of Appointment : |
08.10.1999 |
|
PAN No.: |
AACPK5628E |
|
DIN No.: |
00064100 |
|
|
|
|
Name : |
Mr. A. M. M. Sarma |
|
Designation : |
Director |
|
Address : |
Plot No.285, House No. 302, UB Colony, Road, No. 3, BanjaraHills,
Hyderabad – 500034, Andhra Pradesh, India |
|
Date of Birth/Age : |
12.11.1936 |
|
Date of Appointment : |
09.11.20052 |
|
DIN No.: |
00064988 |
|
|
|
|
Name : |
Prof. Seyed E Hasnain |
|
Designation : |
Director |
|
Address : |
102, Villa Green Gadipet, Ranga Reddy Distirct, |
|
Date of Birth/Age : |
13.04.1954 |
|
Date of Appointment : |
12.09.2008 |
|
DIN No.: |
02205199 |
|
|
|
|
Name : |
Dr. K Anand Kumar |
|
Designation : |
Additional Director |
|
Address : |
#5, Bench Mark, |
|
Date of Birth/Age : |
05.09.1966 |
|
Qualifications: |
M S c (Microbiology), Ph. D |
|
Date of Appointment : |
01.11.2010 |
|
PAN No.: |
ATIPK6604M |
|
DIN No. : |
03268712 |
|
|
|
|
Name : |
Mr. Dilip Rath |
|
Designation : |
Whole time director |
|
Address : |
National Diary Development Board, Near Jag Nathmahadev, Anand –
388001, Gujarat, India |
|
Date of Birth/Age : |
15.11.1954 |
|
Date of Appointment : |
15.04.2012 |
|
DIN No. : |
05163623 |
|
|
|
|
Name : |
Mr. V. A. Srnivasan |
|
Designation : |
Director |
|
Address : |
33, Telecom Nagar, Gachibowli, |
|
Date of Birth/Age : |
10.07.1947 |
|
Date of Appointment : |
01.08.2005 |
|
Qualifications: |
M V Sc, Ph. D (IMMUNOLOGY) |
|
Date of Appointment : |
01.08.2005 |
|
PAN No.: |
ACKPS1651B |
|
DIN No. : |
00064153 |
KEY EXECUTIVES
|
Name : |
Kiran Kumar Manikwar |
|
Designation : |
Company Secretary |
|
Address : |
H. NO. 4-7-297/A/6, Essamia Bazar, |
|
Date of Birth/Age : |
30.08.1974 |
|
Date of Appointment : |
15.12.2006 |
|
Pan No. : |
AGCPK4962F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 10.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Dr. Amrita Patel |
|
1 |
|
Deepak Tikku |
|
1 |
|
K V Balasubramaniam |
|
1 |
|
National Dairy Development Board |
|
9000001 |
|
Dr. G. S. Reddy |
|
1 |
|
Dilip Rath |
|
1 |
|
Dr. K, Anand Kumar |
|
1 |
|
|
|
|
|
Total |
|
9000007 |
Equity Share Break up (Percentage of Total Equity)
As on: 10.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Public financial companies |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing, procuring and selling veterinary vaccines, human health vaccines, animal health products, livestock productivity and cattle feed. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
HDFC Bank Limited, HDFC Bank House Senapati Bapat
Marg, Lower Parel (West), Mumabi – 400013, Maharashtra, India ·
State Bank of India, 3/6/281/A/1, 1st
Floor, Hyderguda Main Road, Hyderabad – 500001, Andhra Pradesh, India |
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Facilities : |
(Rs.
In Millions)
|
|
|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
B S R R and Company Chartered Accountants |
|
Address : |
Hyderabad, India |
|
PAN No.: |
AAKFB1884H |
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|
|
|
Holding Statutory Body : |
· National Dairy Development Board (NDDB) |
|
|
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|
Subsidiaries : |
·
IDMC Limited CIN No.: U29299GJ1992PLC018283 ·
Mother Dairy Fruit and Vegetable Private Limited CIN No.: U15209DL2000PTC104671 ·
NDDB Dairy Services Private Limited CIN No.:U01403DL2009NPL195142 ·
Safal national Exchange of India Limited |
CAPITAL STRUCTURE
As on: 10.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9000007 |
Equity Shares |
Rs.10/- each |
Rs. 90.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
90.000 |
90.000 |
90.000 |
|
(b) Reserves & Surplus |
1635.190 |
1392.090 |
1271.590 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
1725.190 |
1482.090 |
1361.590 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
979.210 |
367.910 |
277.730 |
|
(b) Deferred tax liabilities (Net) |
5.520 |
12.020 |
9.610 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
23.220 |
24.150 |
32.380 |
|
Total Non-current
Liabilities (3) |
1007.950 |
404.080 |
319.720 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
980.070 |
1029.560 |
777.470 |
|
(b)
Trade payables |
248.750 |
270.290 |
190.550 |
|
(c)
Other current liabilities |
610.590 |
400.200 |
386.100 |
|
(d) Short-term
provisions |
28.170 |
18.000 |
20.170 |
|
Total Current
Liabilities (4) |
1867.580 |
1718.050 |
1374.290 |
|
|
|
|
|
|
TOTAL |
4600.720 |
3604.220 |
3055.600 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
715.610 |
763.260 |
769.550 |
|
(ii)
Intangible Assets |
11.700 |
8.880 |
11.750 |
|
(iii)
Capital work-in-progress |
1025.820 |
428.320 |
115.670 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax
assets (net) |
76.890 |
69.370 |
63.300 |
|
(d) Long-term Loan and Advances |
419.480 |
243.440 |
207.750 |
|
(e) Other
Non-current assets |
7.650 |
8.960 |
15.400 |
|
Total Non-Current
Assets |
2257.150 |
1522.230 |
1183.420 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
963.950 |
932.400 |
808.840 |
|
(c)
Trade receivables |
1050.870 |
825.880 |
814.090 |
|
(d) Cash
and cash equivalents |
241.390 |
255.120 |
177.120 |
|
(e)
Short-term loans and advances |
82.910 |
60.610 |
72.130 |
|
(f) Other
current assets |
4.450 |
7.980 |
0.000 |
|
Total
Current Assets |
2343.570 |
2081.990 |
1872.180 |
|
|
|
|
|
|
TOTAL |
4600.720 |
3604.220 |
3055.600 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4035.510 |
3102.020 |
2822.450 |
|
|
|
Other Income |
26.030 |
33.520 |
15.260 |
|
|
|
TOTAL (A) |
4061.540 |
3135.540 |
2837.710 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1098.230 |
|
|
|
|
|
Purchases of stock-in-trade |
191.980 |
223.890 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(12.150) |
(64.650) |
|
|
|
|
Employee benefit expense |
484.010 |
431.360 |
|
|
|
|
Expenditure on production, transportation and other expenditure pertaining to E&P activities |
782.950 |
498.740 |
|
|
|
|
Other expenses |
897.880 |
897.810 |
|
|
|
|
Extraordinary items before tax |
(19.160) |
(24.670) |
|
|
|
|
TOTAL (B) |
3423.740 |
2673.650 |
2350.950 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
637.800 |
461.890 |
486.760 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
111.090 |
113.030 |
87.860 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
526.710 |
348.860 |
398.900 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
191.570 |
195.950 |
176.640 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
335.140 |
152.910 |
222.260 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
76.250 |
19.860 |
35.910 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
258.890 |
133.050 |
186.350 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1111.560 |
1017.670 |
887.480 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
51.780 |
26.610 |
37.270 |
|
|
|
Dividend |
13.500 |
10.800 |
16.200 |
|
|
|
Tax on Dividend |
2.290 |
1.750 |
2.690 |
|
|
BALANCE CARRIED TO
THE B/S |
1302.880 |
1111.560 |
1017.670 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
564.510 |
429.530 |
370.280 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
28.77 |
14.78 |
20.71 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
6.37 |
4.24 |
6.57 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.31 |
4.92 |
7.88 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.59 |
4.92 |
7.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19 |
0.10 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.13 |
0.94 |
0.77 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26 |
1.21 |
1.36 |
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 |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
REVIEW OF OPERATIONS
During the year, the sales turnover of the company increased by 31% to touch Rs.4082.000 millions. Domestic sale of animal health vaccines and formulations recorded a growth of 26% and stood at Rs.2016.000 millions. Domestic sale of human health vaccines recorded a growth of 19% and stood at Rs.1238.000 millions. Exports stood at Rs.461.000 millions, with a growth of 159% over the previous year. The Cattle feed manufacturing business recorded a growth of 85% and stood at Rs.278.000 millions.
The company decided to discontinue the Livestock Productivity Services (LPS) division, in a phased manner, in order to focus on the core business of vaccine and animal health products. The LPS division was completely closed by 31st May 2013.
The Company continues to occupy the topmost position in the domestic animal vaccines business and continues to rank third in the domestic animal health market. In the animal health vaccines segment, Raksha Ovac (Foot & Mouth Disease - FMD vaccine), recorded sales of Rs.1390.000 millions and has become the largest selling veterinary brand in India. Rabies vaccine (Raksharab) recorded a sale of Rs.130.000 millions, while the Theileriosis vaccine (Rakshavac T) contributed Rs.30.000 millions. Among the formulations, the proprietary non-steroid, anti-inflammatory drug ? Nimovet? recorded sales of Rs.70.000 millions.
In the human vaccine market, the Company’s flagship product? Abhayrab? recorded sales of Rs.994.000 millions. The vaccines catering to the requirements of the Ministry of Health’s Universal Immunisation Programme (UIP) - Abhay TOX (Tetanus Toxoid), Abhay TAG (Diptheria, Pertussis and Tetanus) and others recorded sales of Rs.476.000 millions.
The Company obtained 21 new product registrations in the export market and has made a good presence in the Middle East and African markets, in addition to achieving a strong presence for animal vaccines in the CIS and ASEAN region. The Company is now exporting its products to more than 45 countries. However, growth in the export of FMD vaccine was impacted due to the changing strain requirements of importing countries and due to restrictions on the manufacture of vaccines with foreign strains in India.
The Company received a show cause notice dated 19th November 2010 from the Andhra Pradesh Pollution Control Board (APPCB) for relocation of its facilities at Gachibowli pursuant to Government Order Ms. No. 111, M.A. dated 8th March 1996, prohibiting various industrial establishments within a 10 Km radius surrounding sources of drinking water. The Company has informed the APPCB that biotech industries do not fall into any of the categories of polluting industries specified by the Central Pollution Control Board and hence that IIL does not fall under the purview of the said Order. The Company has also undertaken to convert all the five HSD Oil based boilers to Gas based boilers, if APPCB confirms that it would renew its Consent for Operation thereafter.
FUTURE OUTLOOK
The animal health market is expected to grow significantly due to the large expansion of the FMD Control programme and inclusion of vaccination for two more diseases - Brucellosis and Peste de Petits Ruminants (PPR) - in the disease control programmes. The National Dairy Plan Phase I (NDP I) which focuses on improving the productivity of milch cattle is also expected to boost the demand for vaccines and nutraceuticals.
The Company has drawn up investment plans of Rs.8040.000 millions for the next five years to manufacture both animal and human vaccines in Karkapatla and at a new location. The National Dairy Development Board has sanctioned a term loan of Rs.5041.000 millions towards the various new projects that the Company is proposing.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10327282 |
22/06/2013 * |
600,000,000.00 |
NATIONAL DAIRY DEVELOPMENT BOARD |
ANAND, ANAND, GUJARAT - 388001, INDIA |
B78252350 |
|
2 |
10242342 |
24/08/2013 * |
850,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL |
B86877925 |
|
3 |
10185127 |
15/04/2011 * |
1,000,000,000.00 |
CORPORATION BANK |
HYDERABAD - JUBILEE HILLS BRANCH (591), PLOT NO. |
B13432877 |
|
4 |
10107607 |
19/06/2008 |
91,237,000.00 |
NATIONAL DAIRY DEVELOPMENT BOARD |
ANAND, ANAND, GUJARAT - 388001, INDIA |
A40510174 |
|
5 |
10046482 |
20/02/2007 |
28,940,000.00 |
NATIONAL DAIRY DEVELOPMENT BOARD |
ANAND, ANAND, GUJARAT - 388001, INDIA |
A13566625 |
|
6 |
90343723 |
02/09/2005 |
5,000,000.00 |
NATIONAL DAIRY DEVELOPMENT BOARD |
ANAND, ANAND, GUJARAT, INDIA |
- |
|
7 |
90133293 |
30/08/2005 |
140,000,000.00 |
NATIONAL DAIRY DEVELOPMENT BOARD |
ANAND, ANAND, GUJARAT - 388001, INDIA |
- |
|
8 |
90133291 |
24/08/2005 |
200,000,000.00 |
NATIONAL DAIRY DEVELOPMENT BOARD |
ANAND, ANAND, GUJARAT - 388001, INDIA |
- |
* Date of charge modification
Fixed Assets:
- Land –
freehold
- Plant and
machinery
- Electricals
- Refrigeration
and air conditioning
- Furniture
- Office
equipment
- Vehicles
- Computers
- Software
- Technology
transfer agreements
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. 62.34 |
|
|
1 |
Rs. 102.06 |
|
Euro |
1 |
Rs. 84.46 |
INFORMATION DETAILS
|
Report Prepared by
: |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--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 |
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 |
|
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 |
|
-- |
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.