MIRA
INFORM REPORT
|
Report Date : |
05.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
MACLEODS PHARMACEUTICALS LIMITED |
|
|
|
|
Formerly Known
As : |
MACLEODS PHARMACEUTICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
304, Atlanta
Arcade, Marol Church Road, Andheri (East), Mumbai – 400 059, Maharashtra |
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|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
05.06.1989 |
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|
|
|
Com. Reg. No.: |
11-052049 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.199.607 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24239MH1989PLC052049 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM19656A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM4100C |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
Line of Business
: |
The Company is engaged in the business of pharmaceutical
and related activities, including research. |
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|
|
|
No. of Employees
: |
5000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
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 49000000 |
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|
|
|
Status : |
Good |
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|
|
Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a
well-established and reputed company having a fine track record. Financial
position of the company appears to be sound. Trade relations are reported as
fair. Business is active. Payments are reported to be regular and as per
commitments. The company can
be considered good for normal business dealings at usual trade terms and
conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
Short Term Rating A1+ (Placed on notice of
Withdrawal) |
|
Rating Explanation |
Very strong degree of safety. It carry
lowest credit risk. |
|
Date |
13.09.2013 |
NOTE: Notice of withdrawal for a period of 180 days
on Macleods request. The ratings shall be withdrawn at the end of the notice
period.
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. Suresh |
|
Designation : |
Finance Department |
|
Contact No.: |
91-22-66762800 |
|
Date : |
04.12.2013 |
LOCATIONS
|
Registered Office : |
304, Atlanta
Arcade, Marol Church Road, Andheri (East), Mumbai – 400 059, Maharashtra,
India |
|
Tel. No.: |
91-22-66762800/ 56762800 |
|
Fax No.: |
91-22-28266229/ 29256599 |
|
E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Plot No. 1 and 2,
Mahim Road, Near Kuldeep Hotel, Palghar (West), District Thane – 401 404,
Maharashtra, India |
|
|
|
|
Factory 2 : |
Village: Theda, Kharuni- Lodimajra, Thehesil- Nalagarh, Baddi Industrial Estate Area, District: Solan, Himachal Pradesh, India |
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|
|
|
Factory 3 / Daman- Premier- Unit II : |
Plot no. 25-27, Survey No. 366, Premier Industrial Estate, Kachigam, Daman – 396 320, Daman and Diu, India |
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Factory 4 / Daman- Kabra- Unit III : |
Plot No. 367/ 7, Kabra Industrial Estate, Kachigam, Daman – 396 210, Daman and Diu, India |
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|
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Factory 5 : |
Plot No.2209, GIDC Sarigam, District: Valsad, Gujarat, India |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Banwarilal Murildhar Bawri |
|
Designation : |
Managing Director |
|
Address : |
5, Vinayak Heights, Upper Govind Nagar, Malad (East), Mumbai – 400 097, Maharashtra, India |
|
Date of Birth/Age : |
02.04.1953 |
|
Qualification : |
D. Pharm |
|
Date of Appointment : |
01.04.2010 |
|
DIN No.: |
00017795 |
|
|
|
|
Name : |
Mr. Rajendra Murlidhar Agarwal |
|
Designation : |
Managing Director |
|
Address : |
5, Vinayak Heights, Upper Govind Nagar, Malad (East), Mumbai – 400 097, Maharashtra, India |
|
Date of Birth/Age : |
25.02.1959 |
|
Qualification : |
M.B.B.S. |
|
Date of Appointment : |
01.04.2010 |
|
DIN No.: |
00034224 |
|
|
|
|
Name : |
Mr. Girdharilal Murlidhar Bawri |
|
Designation : |
Director |
|
Address : |
5, Vinayak Heights, Upper Govind Nagar, Malad (East), Mumbai – 400 097, Maharashtra, India |
|
Date of Birth/Age : |
03.08.1947 |
|
Qualification : |
B. Com / D. Pharma |
|
Date of Appointment : |
22.05.1990 |
|
DIN No.: |
00034197 |
|
|
|
|
Name : |
Mr. Vimal Manekchand Kothari |
|
Designation : |
Director |
|
Address : |
132, Avanti Apartment, Senapati Bapat Marg, Dadar (West), Mumbai-40028, Maharashtra, India |
|
Date of Birth/Age : |
28.06.1940 |
|
Qualification : |
M.Com / LLB / FICWA |
|
Date of Appointment : |
27.03.2006 |
|
DIN No.: |
00056003 |
|
|
|
|
Name : |
Mr. Navrang Ladhuram Tibrewal |
|
Designation : |
Director |
|
Address : |
Plot No. A, Schemeno 8, Gandhipath, Queens Road, Jaipur – 302 021, Rajashtra, India |
|
Date of Birth/Age : |
17.01.1937 |
|
Qualification : |
LLM |
|
Date of Appointment : |
27.03.2006 |
|
DIN No.: |
00030151 |
KEY EXECUTIVES
|
Name : |
Mrs. Suvarna Dadabhau Gholap |
|
Designation : |
Secretary |
|
Address : |
103-A, Building No.26, Tilak Nagar, Chembur, Mumbai – 400 089,
Maharashtra, India |
|
Date of Birth/Age : |
15.07.1982 |
|
Date of Appointment : |
01.03.2011 |
|
PAN No.: |
ANJPG7538B |
|
|
|
|
Name : |
Mr. Suresh |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Anju Agarwal |
|
3256200 |
|
Rajendra Murlidhar Agarwal |
|
3084360 |
|
Banwarilal Murildhar Bawri |
|
3022080 |
|
Prateek Agarwal |
|
2518400 |
|
Girdharilal Murlidhar Bawri |
|
2235360 |
|
Ajay Agarwal |
|
2172550 |
|
Vijay Agarwal |
|
2083610 |
|
Sudha Bawri |
|
884080 |
|
Anushree Agarwal |
|
229200 |
|
Ruchi Agarwal |
|
192840 |
|
Taradevi Bawri |
|
162000 |
|
Rajendra Murlidhar Agarwal HUF |
|
120000 |
|
Total |
|
19960680 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the business of pharmaceutical
and related activities, including research. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
·
European Countries ·
Middle East |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Credit / Depend |
GENERAL INFORMATION
|
Customers : |
Others |
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No. of Employees : |
5000 (Approximately) |
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Bankers : |
·
CITI Bank N.A., Commercial Banking Group,
Bandra Kurla Complex, Mumbai – 400 051, Maharashtra, India · State Bank of India, N.G.N. Vaidya Marg, Mumbai – 400 023, Maharashtra, India ·
ICICI Bank Limited, 1st Floor, Ganesh
Darshan Building, L.T. Road, Opposite Shri Sagar Hotel, Borivali West – 400
092, Maharashtra, India ·
Axis Bank, Dahisar (West), Mumbai, Maharashtra,
India |
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Bansal Bansal and Company Chartered Accountant |
|
Address : |
120 Building No.6, Mittal Industrial Estate, Mumbai – 400 059,
Maharashtra, India |
|
Tel. No.: |
91-22-28507815/66923607/28507816 |
|
Fax No.: |
91-22-28507816 |
|
E-Mail : |
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|
PAN No.: |
AABFB5224E |
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|
|
Subsidiary company: |
· Macleods Pharma Japan · East And West Clothing Private Limited CIN No.: U29140MH1975PTC018072 · Macleods Tashkent, Uzbek · Macleods Pharmaceuticals Limited, Ukraine · Macleods Pharmaceuticals Limited, Peru S.A.C. · Macleods Pharmaceuticals SA (PTY) Limited · Macleods Pharma USA, INC · Macleods Pharma UK Limited |
|
|
|
|
Other related
parties: |
· Oxalis Labs · Jindal Enterprises · Pharma Centre |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs. 10/- each |
Rs.250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19960680 |
Equity Shares |
Rs. 10/- each |
Rs.199.607 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 |
199.607 |
199.607 |
199.607 |
|
(b) Reserves & Surplus |
12281.677 |
8806.163 |
6318.052 |
|
(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) |
12481.284 |
9005.770 |
6517.659 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
19.507 |
19.507 |
20.312 |
|
(b) Deferred tax liabilities (Net) |
198.442 |
274.073 |
264.294 |
|
(c) Other long term liabilities |
100.058 |
79.450 |
79.304 |
|
(d) long-term provisions |
57.444 |
40.654 |
28.386 |
|
Total Non-current Liabilities (3) |
375.451 |
413.684 |
392.296 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1502.372 |
1480.123 |
754.270 |
|
(b) Trade payables |
1448.935 |
1259.888 |
1848.523 |
|
(c) Other current
liabilities |
1279.089 |
686.570 |
755.933 |
|
(d) Short-term provisions |
7.399 |
4.694 |
186.017 |
|
Total Current Liabilities (4) |
4237.795 |
3431.275 |
3544.743 |
|
|
|
|
|
|
TOTAL |
17094.530 |
12850.729 |
10454.698 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3179.552 |
2666.021 |
2421.561 |
|
(ii) Intangible Assets |
7.774 |
2.279 |
1.188 |
|
(iii) Capital
work-in-progress |
537.430 |
123.774 |
87.115 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
98.831 |
99.459 |
92.951 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1154.621 |
1179.668 |
744.446 |
|
(e) Other Non-current assets |
269.068 |
67.479 |
1658.918 |
|
Total Non-Current Assets |
5247.276 |
4138.680 |
5006.179 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3490.927 |
2450.497 |
2705.776 |
|
(c) Trade receivables |
2851.136 |
2575.356 |
1841.994 |
|
(d) Cash and cash
equivalents |
4419.823 |
3080.621 |
474.823 |
|
(e) Short-term loans and
advances |
818.555 |
375.772 |
267.881 |
|
(f) Other current assets |
266.813 |
229.803 |
158.045 |
|
Total Current Assets |
11847.254 |
8712.049 |
5448.519 |
|
|
|
|
|
|
TOTAL |
17094.530 |
12850.729 |
10454.698 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
|
24259.900 |
18253.630 |
14123.962 |
|
|
|
|
Other Income |
|
239.016 |
156.741 |
|
|
|
|
TOTAL (A) |
24259.900 |
18492.646 |
14280.703 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
|
19636.750 |
6049.579 |
5617.835 |
|
|
|
|
Purchase of stock-in-trade |
|
1857.542 |
1313.879 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
|
98.450 |
(695.473) |
|
|
|
|
Employee benefit Expenses |
|
2460.840 |
1834.619 |
|
|
|
|
Other Expenses |
|
4860.368 |
3697.095 |
|
|
|
|
TOTAL (B) |
19636.750 |
15326.779 |
11767.955 |
|
|
|
|
|
|
|
||
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(Including
Depreciation and Financial Expenses) |
3165.867 |
2512.748 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
|
72.873 |
21.019 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
|
3092.994 |
2491.729 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
|
227.393 |
193.584 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
4623.150 |
2865.601 |
2298.145 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
915.650 |
145.501 |
149.402 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
3707.502 |
2720.100 |
2148.743 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
8087.313 |
5874.201 |
4192.600 |
||
|
|
|
|
|
|
||
|
Less |
APPROPRIATIONS |
|
|
|
||
|
|
|
Transfer to General Reserve |
375.000 |
275.000 |
235.000 |
|
|
|
|
Dividend |
199.607 |
199.607 |
199.607 |
|
|
|
|
Tax on Dividend |
32.381 |
32.381 |
32.535 |
|
|
|
BALANCE CARRIED
TO THE B/S |
11187.827 |
8087.313 |
5874.201 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
FOB Value of Manufactured Goods Exported |
5553.250 |
3376.106 |
3204.059 |
|
|
|
|
income from Product Development |
76.310 |
0.000 |
0.000 |
|
|
|
TOTAL EARNINGS |
5629.560 |
3376.106 |
3204.059 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
NA |
1908.988 |
1581.995 |
|
|
|
|
Stores & Spares |
NA |
14.791 |
11.667 |
|
|
|
|
Capital Goods |
NA |
78.768 |
133.212 |
|
|
|
TOTAL IMPORTS |
NA |
2002.547 |
1726.874 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
185.74 |
136.27 |
107.65 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
15.28
|
14.71
|
15.05 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
15.70
|
16.27 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
28.09
|
22.69 |
29.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.37
|
0.32 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.12
|
0.17 |
0.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.80
|
2.54 |
1.54 |
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 |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
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 |
LITIGATION
DETAILS:
|
Bench:- Bombay |
||||
|
Presentation Date:- 02.12.2013 |
||||
|
Stamp No:- |
WPST/33240/2013 |
Failing Date:- |
02.12.2013 |
|
|
|
||||
|
Petitioner:- |
COMMISSIONER OF CENTRAL EXCISE AN CI |
Respondent:- |
MACLEODS PHARMACEUTICALS LIMITED |
|
|
Petn.Adv:- |
A S RAO (I257) |
|||
|
District:- |
MUMBAI |
|||
|
|
||||
|
Bench:- |
DIVISION |
|||
|
Status:- |
Pre-Admission |
Stage:- |
|
|
|
Next Date:- |
09.12.2013 |
|
||
|
Coram:- |
Registrar (Judicial) |
|||
|
|
|
|||
|
Act:- |
Bombay University Act |
|||
UNSECURED LOAN:
(Rs.
In Millions)
|
Particulars |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
LONG TERM
BORROWINGS |
|
|
|
Deferred sales tax loan |
19.507 |
19.507 |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
6.209 |
5.463 |
|
Total |
25.716 |
24.970 |
OPERATING RESULTS:
The Sales and other income is Rs. 24259.900 million for the year under review, higher by 23.77% over Rs. 18492.646 million reported in the year 2011-12. The Net profit before tax amounted to Rs. 4623.150 million against Rs. 2865.601 million during last year and the profit after tax is Rs. 3707.502 million which was Rs. 2720.100 million during the last year.
GENERAL INFORMATION:
Macleods Pharmaceuticals Limited ('the Company') is a closely held Public Company domiciled in India & incorporated under the provisions of the Companies Act, 1956. The Company is engaged in the business of pharmaceutical and related activities, including research
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10449202 |
19/09/2013 |
15,460,000.00 |
ICICI BANK LTD. |
1st Floor, GANESH DARSHAN BLDG., L. T. ROAD, OPP. SHRI SAGAR HOTEL, BORIVALI WEST, Maharashtra - 400092, INDIA |
B85072510 |
|
2 |
10449114 |
19/09/2013 |
17,850,000.00 |
ICICI BANK LTD. |
1st Floor, GANESH DARSHAN BLDG., L. T. ROAD, OPP. SHRI SAGAR HOTEL, BORIVALI WEST, Maharashtra - 400092, INDIA |
B85015006 |
|
3 |
10449057 |
19/09/2013 |
22,160,000.00 |
ICICI BANK LTD. |
1st Floor, GANESH DARSHAN BLDG., L. T. ROAD, OPP. SHRI SAGAR HOTEL, BORIVALI WEST, Maharashtra - 400092, INDIA |
B84988856 |
|
4 |
10449059 |
19/09/2013 |
22,160,000.00 |
ICICI BANK LTD. |
1st Floor, GANESH DARSHAN BLDG., L. T. ROAD, OPP. SHRI SAGAR HOTEL, BORIVALI WEST, Maharashtra - 400092, INDIA |
B84990639 |
|
5 |
90224199 |
18/12/2000 * |
2,950,000.00 |
STATE BANK OF INDIA |
MALAD BRANCH, MUMBAI, Maharashtra, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
· Land
·
· Plant and Machinery
· Vehicles
· Training
· Office Equipment
· Factory Equipments
·
Computers
AS PER WEBSITE DETAILS:
PRESS RELEASES:
ZUVENTUS HEALTHCARE, WANBURY, MACLEODS PHARMA IN RACE FOR THE EMERGING
HEALTHCARE COMPANY AT ILC 2013
India Leadership Conclave brings tough competition as Indian Pharma Majors
Wanbury, Macleods, Bluecross, Wallace and Zuventus Healthcare eye to win the
coveted India’s Emerging Healthcare Company of the Year 2013 Title
Mumbai, Maharashtra, India, Friday, 7th June 2013 : In the run up to the 4th
Annual India Leadership Conclave and Indian Affairs Business Leadership Awards
2013 organized by Indian Affairs in association with the Ministry of Corporate
Affairs, Government of India and several trade bodies, to be held in Mumbai at
Hotel The Leela, Grand Ball Room, on Friday,21st June 2013 in India, the
prestigious nomination for the prestigious “India’s Emerging Healthcare Company
of the Year 2013 Award title”has picked up the speed as the Nation votes to
select the Winner out od top five finalists screened. The five pharma majors
who are in the race are all Mumbai based companies such as Wanbury Ltd,
Macleods Pharmaceuticals Limited, Blue Cross Laboratories Ltd, Wallace
Pharmaceuticals Ltd, Zuventus Healthcare Limited.
Given to vote by the Juries to taste the mood of the nation since last 45 days, the much awaited Leadership Conclave titled The New India – Agenda For Change, Indian masses have been voting to chose the Companies and Individuals who has been remarkably successfully in the various categories such as telecommunication, IT, Education and Training, Pharmaceutical, Healthcare, Food and Beverages, Automobile, Power (Incl Renewable),Chemical and Fertilizer, FMCG and Consumer Appliances, Hotel, Hospitality, Travel and Tourism, Financial Sector – Banking/Non Banking finance companies/asset Management companies, BPOs (Business Process Outsourcings) etc. “India’s Emerging Healthcare Company of the Year 2013 Award Nomination is being widely discussed as Indian Healthcare Industry is in news following two major developments first on the Novartis Patent Ruling and Ranbaxy’s alleged violation of safety norms in medicines.
India is now among the top five pharmaceutical emerging markets. The Indian pharma industry has been growing at a compounded annual growth rate (CAGR) of more than 15 per cent over the last five years and has significant growth opportunities. The domestic pharmaceutical market is expected to register a strong double-digit growth of 13-14 per cent in 2013 on back of increasing sales of generic medicines, continued growth in chronic therapies and a greater penetration in rural markets. The cumulative drugs and pharmaceuticals sector has attracted foreign direct investments (FDI) worth US$ 10,308.75 million during April 2000 to February 2013, according to the latest data published by Department of Industrial Policy and Promotion (DIPP). Under these contexts, all five pharmaceutical companies such as Wanbury Limited, Macleods Pharmaceuticals Limited, Blue Cross Laboratories Limited, Wallace Pharmaceuticals Limited, Zuventus Healthcare Limited. Have peformed well in the market and since the real winner is the one who beats all odds and perform exceptional growth will be crowned the glory said, Award Nomination Committee Chairman Satya Brahma.
Mumbai baseds Drug maker Wanbury, has reported a standalone sales turnover of Rs 1053.500 Millions and a net loss of Rs 82.000 Millions for the quarter ended Dec '12. Other income for the quarter was Rs 0.300 Millions. For the quarter ended Dec 2011 the standalone sales turnover was Rs 761.000 Millions and net loss was Rs 134.100 Millions. Recently CCI is probing Macleods pharma among five entities for 'engaging in anti-competition practices' in granting stockist licence for medicines in Himachal Pradesh. Macleods has its presence in over 30 countries with more than 300 registrations. The export range of Macleods are manufactured in a unit that has QSM approval from WHO-Geneva, and certifications from various International Regulatory Authorities like - USFDA, MCC, UKMHRA, MOH Belarus, INVIMA Colombia, National Drugs Authority - Uganda, Food and Drugs Board - Ghana, MCAZ Zimbabwe, Pharmacy and Poisons Board Kenya, Pharmacy Board Tanzania etc. Owing to a high degree of technological advancements, Macleods offers quality health care worldwide. It has strong presence in essential therapies like TB, malaria and HIV. Wanbury Limited is the fastest growing pharma company with a Compounded Annual Growth Rate(CAGR) of 68% over the last 6 years.The company has strong presence in domestic formulations, Active Pharmaceutical Ingredient(API) and Contract Research and manufacturing Services(CRAMS).The company also has its presence in Europe in formulations and the company has opened its office in Zurich, Switzerland for its CRAMS business and incorporated Wanbury Global FZE in Middle East for carrying out its trading activities in the year 2008. Indchemie health specialities pvt. Limited has been in the ethical pharma business for more than two decades now, with leadership in few of the segments. It has a strong back up of in-house manufacturing facility and has four pharmaceuticals manufacturing units and the beta-lactam unit is having several commendable approvals from african regulatory agencies like ethiopia, kenya and Malawi. Its business focus is backed with the building up of captive manufacturing operations and of complying with the regulatory standards of the advanced markets.
Blue Cross Laboratories Limited is a leading Indian pharmaceutical company. This research based organization boasts of more than two decades of sterling performance in the arena of healthcare products. The company serves a global client base. The company operations run on SAP. The Corporate office is connected with the production factories through RF MPLS. The company has an annual sales turnover of around Rs.2500.000 Millions. The company employee base comprises over 1000 people. The Wallace Group is a privately owned Pharmaceutical and Biotechnology Group headquartered in Goa, India. Incorporated in the late 1960s as a joint venture with Carter Wallace Inc. and Menezes family, the Wallace Group is primarily engaged in the manufacture and marketing of formulation products in India as well as abroad. The Group comprises Wallace Pharmaceuticals, Indipharma and Goodwin Biotechnology Inc. The Wallace Group employs over 2300 personnel with offices and facilities in several key locations in India and around the world. The Wallace Group comprises of Wallace Pharmaceuticals, Wallace Laboratories, Indi Pharma, Good Win Bio Tech and Trusts. Prakash Guha led Zuventus Healthcare Limited is one of the fastest growing pharmaceutical company with an enviable position in the Indian Healthcare Space with the turnover of more than 6500.000 Millions. Zuventus Healthcare is a Joint Venture Company with Emcure, a leading pharma giant and employs more than 2500 people and has a huge presence of its products in pan India network.
The Grand Final of the Winner for the the Emerging Healthcare Company of the year Award will be announced on Friday,21st June 2013 at the Grand Ball Room of the Hotel Leela in Mumbai, India
INDIA'S MACLEODS PHARMA TO INVEST $25 MILLION IN PRODUCTION IN RUSSIA;
FERRING TO START MANUFACTURING
14-12-2012
Indian drugmaker MĐ°cleods Pharmaceuticals plans to invest up to 700 million roubles (around $25 million) in the construction of a plant for the production of antituberculous drugs in Russia’s Belgorod region by 2016.
The project is expected to be implemented by the local Advanced Trading company, an official supplier of MĐ°cleods drugs in the Russian market, which currently accounts for 25% of the Russian market of antituberculous drugs.
According to Sergey Mironov, head of Advanced Trading, the new plant will focus on the production of life-saving medicines, which are expected to be in high demand in the Russian market. At the initial stage the new plant will focus on the production of anti-tuberculosis medicines, while later the production range is expected to be expanded.
The majority funds for the project is expected to be allocated from MĐ°cleods own funds and its Russian partner. The new facility is scheduled for the commission by the first quarter of 2016 and will reach its design capacity at that period of time. The new plant will create more than 160 new jobs at the initial stage. The governor of the Belgorod area Evgenie Savchenko has already promised the provision of all the needed support for the project.
Ferring Pharma to
launch production of innovative anticancer drugs in Kazan
Switzerland-based Ferring Pharmaceuticals is considering establishing production of innovative anticancer drugs in Russia’s Kazan (Tatarstan Republic). The new facility is expected to be established on the territory of Khimgrad and will be managed by Russia-based Izvarino Pharma AB, which is a subsidiary of Ferring Pharmaceuticals.
According to Orest Ibragimov, general director of Izvarino Pharma, in addition to production of anticancer drugs, the new plant will focus on the development of nanoscale systems of drugs delivery, as well as the development of a hormonal drug for the treatment of hysteropathy.
Total volume of investments in the project is not disclosed, however, according to some sources close to the project, they are estimated at 1.2 billion roubles ($36 million). According to Mr Ibragimov, the launch of production at the new facility is scheduled for 2016-2017, while payback period of the project is put at five years.
Mr Ibragimov has also not ruled out the possbility that some of the company’s products may be sold to one of the world’s biggest pharmaceutical producer, which specialize in the production of drugs for treatment of infertility and is interested in new developments in this field.
Macleods Pharma, tuberculosis drugs, Production, Ferring Pharma, Novel cancer drugs, Russia, Izvarino Pharma, Infertility
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.62.33 |
|
|
1 |
Rs.102.18 |
|
Euro |
1 |
Rs.84.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
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 |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
65 |
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.