1. Summary Information
|
Country |
India |
||
|
Company Name |
SANDOZ PRIVATE
LIMITED |
Principal Name 1 |
Mr. Govindarajan Venkatachary |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Jeffrey
Martin Rope |
|
Registration # |
11-086989 |
||
|
Street Address |
Sandoz House, Dr. A. B. Road, Worli,
Mumbai – 400018, Maharashtra, India |
||
|
Established Date |
30.03.1995 |
SIC Code |
-- |
|
Telephone# |
91-22-24939258
/ 24982095 / 27639157 / 27639335 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-22-24981620 /
56512121 / 24982099 / 27639064 / 27639012 |
Business Style 2 |
Pharmaceuticals Business -- |
|
Homepage |
Product Name 1 |
Tablets |
|
|
# of employees |
Not Available |
Product Name 2 |
Bulk Drugs |
|
Paid up capital |
Rs.
32,000,000/- |
Product Name 3 |
Nasal Sprays |
|
Shareholders |
Foreign holdings = 100.00% |
Banking |
Standard Chartered Bank |
|
Public Limited Corp. |
No |
Business Period |
18 Years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
Ba (51) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding Company : |
Switzerland |
Novartis Holding AG, Basel |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
3,812,100,000 |
Current Liabilities |
3,632,600,000 |
|
Inventories |
4,251,000,000 |
Long-term Liabilities |
6,871,200,000 |
|
Fixed Assets |
4,762,800,000 |
Other Liabilities |
446,200,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
10,950,000,000 |
|
Invest& other Assets |
409,700,000 |
Retained Earnings |
2,253,600,000 |
|
|
|
Net Worth |
2,285,600,000 |
|
Total Assets |
13,235,600,000 |
Total Liab. & Equity |
13,235,600,000 |
|
Total Assets (Previous Year) |
13,138,300,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
12,046,000,000 |
Net Profit |
456,000,000 |
|
Sales(Previous yr) |
9,648,000,000 |
Net Profit(Prev.yr) |
326,000,000 |
MIRA INFORM REPORT
|
Report Date : |
01.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
SANDOZ PRIVATE LIMITED [w.e.f. 16.04.2003] |
|
|
|
|
Formerly Known
As : |
SANDOZ PHARMA (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Sandoz House, Dr.
A. B. Road, Worli, Mumbai – 400018, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
30.03.1995 |
|
|
|
|
Com. Reg. No.: |
11-086989 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.32.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230MH1995PTC086989 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN06026G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS9267J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of Pharmaceuticals Business. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 9100000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Novartis Holding AG, Basel”. It is an
established company having satisfactory track record. There appears an increase in the sales turnover as well as profitability
due to increase in exports during 2012. Reserves position seems to be good
but the liquidity position is stretched.
However, the subject gets strong managerial and financial support from
its holding companies. Trade relations are fair. Business is active. Payment terms are
usually correct. In view of experienced promoters and directors, the company can be
considered normal 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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 : |
Sandoz House, |
|
Tel. No.: |
91-22-24939258 / 24981620
/ 24982095 / 27639157 / 27639335 |
|
Fax No.: |
91-22-24981620 /
24982099 / 27639064 / 27639012 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Sandoz House,
Shivsagar Estate, A Block, 6th Floor, Mumbai – 400013, |
|
Tel. No.: |
91-22-24981623 |
|
|
|
|
Factory: |
MIDC, Plot No.
8-A/2, 8-B TTC Industrial Area, Kawle Block, Village Dighe, Opposite Thane Belapur
Road, Navi Mumbai – 400 708, Maharashtra, India |
|
Tel No.: |
91-22-24982091 |
|
Fax No. : |
91-22-24982099 |
|
|
|
|
Branch Office
1 : |
|
|
Tel. No.: |
91-22-25314080 |
|
Fax No.: |
91-22-25314111 |
|
|
|
|
Branch Office
2 : |
7th
Floor, Peninsula Towers, Corporate Park, Ganpatrao Kadam Marg, Off Senapati
Bapat Marg, Lower Parel, Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-56512100 |
|
Fax No.: |
91-22-56512121 |
|
|
|
|
Production
Site : |
Plot No. D-31 and
Plot No. D-32, MIDC, TTC Industrial Area, Turbhe, Navi Mumbai – 400705, |
|
Tel No.: |
91-22-55910485 |
|
Fax No. : |
91-22-55910472 |
DIRECTORS
As on 30.09.2012
|
Name : |
Mr. Govindarajan Venkatachary |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
204, Vakratonda, |
|||||||||||||||||||||||||||
|
Date of
Birth/Age : |
24.08.1951 |
|||||||||||||||||||||||||||
|
Qualification
: |
B. Sc |
|||||||||||||||||||||||||||
|
Date of
Appointment : |
11.08.2008 |
|||||||||||||||||||||||||||
|
PAN No. : |
AAIPV6792J |
|||||||||||||||||||||||||||
|
Din No.: |
00819520 |
|||||||||||||||||||||||||||
|
Other Directorship
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mr. Jeffrey
Martin Rope |
|||||||||||||||||||||||||||
|
Designation : |
Additional
director |
|||||||||||||||||||||||||||
|
Address: |
Zugerbergstrasse
37, Unterageri 6314 |
|||||||||||||||||||||||||||
|
Date of
Birth/Age : |
05.03.1962 |
|||||||||||||||||||||||||||
|
Date of
Appointment: |
04.04.2013 |
|||||||||||||||||||||||||||
|
Din No.: |
03641506 |
|||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Novartis Holding
A G, Switzerland |
|
3199995 |
|
Novartis A G,
Switzerland |
|
5 |
|
|
|
|
|
TOTAL
|
|
3200000 |
As on 30.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Pharmaceuticals Business. |
||||
|
|
|
||||
|
Products : |
· Tablets · Bulk Drugs ·
Nasal Sprays |
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Installed
Capacity |
|
Bulk Drugs and Drug Intermediates |
Metric Tonnes |
472 |
|
Tablets |
Thousand Numbers |
3501032 |
|
Capsules |
Thousand Numbers |
798968 |
|
Vials |
Thousand Numbers |
11290 |
Information in respect of Licensed Capacity is not furnished in view of withdrawal of licensing requirements vide Gazette Notification No. S.O. 477(E) dated 25th July, 1991.
The installed capacities, being a technical matter, are as certified by the management and not verified by the auditors.
Installed Capacity of previous year excludes the production capacity for Tablets and Granules produced in Turbhe plant as production was discontinued and assets were held for sale. During the previous year, 2,659 Thousand Tablets and 8.3 Metric Tonnes of Granules were produced.
|
Particulars |
Unit |
Actual
Production |
|
Bulk Drugs and Drug Intermediates |
Metric Tonnes |
1290 |
|
Formulation: Tablets |
Thousand Numbers |
1171471 |
|
Capsules |
Thousand Numbers |
463525 |
|
Nasal Sprays |
Litres |
10210 |
|
Kit (Combi Pack of Capsules and Tablets) |
Thousand Numbers |
4025 |
|
Granules |
Kgs |
-- |
|
Injectables |
Thousand Vials/Ampoules |
2156 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Lovelock and Lewes Chartered Accountants |
|
Address : |
252,Veer
Savarkar Marg, Shivaji Park, Dadar, Mumbai - 400028, Maharashtra, India |
|
PAN No: |
AAEFP5579P |
|
|
|
|
Holding Company
: |
Novartis Holding AG, |
|
|
|
|
Ultimate Holding
Company: |
Novartis AG, |
|
|
|
|
Fellow
Subsidiaries : |
|
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10 /- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3200000 |
Equity Shares |
Rs.10 /- each |
Rs.32.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
32.000 |
32.000 |
|
(b) Reserves & Surplus |
|
2253.600 |
1797.300 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
2285.600 |
1829.300 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
247.200 |
145.200 |
|
(c) Other long term
liabilities |
|
15.500 |
25.700 |
|
(d) long-term
provisions |
|
130.300 |
126.200 |
|
Total Non-current
Liabilities (3) |
|
393.000 |
297.100 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
6871.200 |
7067.700 |
|
(b) Trade
payables |
|
3387.400 |
2872.300 |
|
(c) Other
current liabilities |
|
229.700 |
1005.900 |
|
(d) Short-term
provisions |
|
68.700 |
66.000 |
|
Total Current
Liabilities (4) |
|
10557.000 |
11011.900 |
|
|
|
|
|
|
TOTAL |
|
13235.600 |
13138.300 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
4762.800 |
5024.700 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
409.700 |
258.800 |
|
(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 |
|
519.100 |
439.300 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
5691.600 |
5722.800 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
4251.000 |
4776.100 |
|
(c) Trade
receivables |
|
1976.300 |
1423.000 |
|
(d) Cash
and cash equivalents |
|
7.800 |
45.900 |
|
(e)
Short-term loans and advances |
|
1308.900 |
1165.000 |
|
(f) Other
current assets |
|
0.000 |
5.500 |
|
Total
Current Assets |
|
7544.000 |
7415.500 |
|
|
|
|
|
|
TOTAL |
|
13235.600 |
13138.300 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
32.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
1471.108 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1503.108 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
586.117 |
|
|
2] Unsecured Loans |
|
|
5934.608 |
|
|
TOTAL BORROWING |
|
|
6520.725 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
8023.833 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
4520.764 |
|
|
Capital work-in-progress |
|
|
843.698 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
1.200 |
|
|
DEFERREX TAX ASSETS |
|
|
2.847 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
3169.124 |
|
|
Sundry Debtors |
|
|
1751.052 |
|
|
Cash & Bank Balances |
|
|
25.152 |
|
|
Other Current Assets |
|
|
11.457 |
|
|
Loans & Advances |
|
|
1543.368 |
|
Total
Current Assets |
|
|
6500.153 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
3512.337 |
|
|
Other Current Liabilities |
|
|
78.695 |
|
|
Provisions |
|
|
253.797 |
|
Total
Current Liabilities |
|
|
3844.829 |
|
|
Net Current Assets |
|
|
2655.324 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
8023.833 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sale of Products [Net] |
12046.000 |
9648.000 |
8395.875 |
|
|
|
Sale of Service |
1743.000 |
1592.000 |
1330.669 |
|
|
|
Other Operating Revenue |
91.000 |
64.000 |
0.000 |
|
|
|
Other Income |
44.000 |
82.000 |
122.848 |
|
|
|
TOTAL (A) |
13924.000 |
11386.000 |
9849.392 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
10912.000 |
5533.344 |
|
|
|
Administrative Expenses |
|
|
3307.422 |
|
|
|
Advertising Expenses |
|
|
109.361 |
|
|
|
TOTAL (B) |
13366.000 [Including
Financial Expenses and Depreciation] |
10912.000 [Including
Financial Expenses and Depreciation] |
8950.127 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
899.265 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
360.939 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
538.326 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
534.962 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
558.000 |
474.000 |
3.364 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
102.000 |
148.000 |
32.403 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
456.000 |
326.000 |
(29.039) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1699.000 |
1372.897 |
1401.936 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2155.000 |
1698.897 |
1372.897 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
2570.501 |
3624.077 |
|
|
|
Packing Materials |
NA |
132.007 |
108.612 |
|
|
|
Finished Goods |
NA |
1.217 |
453.109 |
|
|
|
Capital Goods |
NA |
157.306 |
285.176 |
|
|
|
Spares and Consumables |
NA |
33.382 |
60.338 |
|
|
TOTAL IMPORTS |
NA |
2894.413 |
4531.312 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
142.50 |
101.93 |
(9.07) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.27
|
2.86 |
(0.29) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.05
|
4.22 |
0.04 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.35
|
3.68 |
0.03 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.26 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.01
|
3.86 |
4.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.71
|
0.67 |
1.69 |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
PERFORMANCE /
OPERATIONS:
SALES:
Sales grew by 25% (Rs.
2398.000 Millions) primarily due to increase in exports. Export sales increased
by Rs. 2044.000 Millions mainly arising out of products of Kalwe and Turbhe
plants. Increase in export sales as compared to earlier year amounts to 25%.
PROFIT:
Profit increased during the year mainly on account of higher sales and
better profitability.
DISCLOSURE OF AMALGAMATIONS:
Scheme of
Amalgamation of erstwhile Hexal Pharma Private Limited with the company as
sanctioned by the Honourable High Court of Bombay on March 25, 2011, the assets
and liabilities of Hexal Pharma Private Limited were transferred to and vested
in the company with effect from April 1, 2010. The scheme was accordingly given
effect to in the Financial Statements. The scheme was accounted for under the
pooling of interests method as prescribed by Accounting Standard (AS-14),
notified under sub-section (3C) of Section 211 of the Act. Accordingly, the
assets, liabilities and other reserves of the erstwhile subsidiary as at the
aforementioned date were taken over at their book values. There was no
adjustment for differences in accounting policies between the companies. The
Company had filed court order (amalgamation of Hexal Pharma Private Limited
with the Company) with the Registrar of Companies in Form 21 on April 22, 2011,
which till date has been held in abeyance by Registrar Of Companies.
BUSINESS SEGMENTS:
The company is engaged in the pharmaceuticals business, having two main business segments which are manufacturing and trading of products and providing services.
A) Products:
The product portfolio comprises of:
(1) Prescription medicines which are provided to patients through healthcare professionals. These are mainly products of original research of the Novartis group.
(2) Therapeutic segments such as Cardiovascular, Antibiotics and Antimycobacterials.
(3) Over the counter products mainly dealing in Nasal Sprays.
(4) Consignment agency services rendered to a group company.
B) Services:
The service portfolio comprises of services rendered in development activities for group companies.
CONTINGENT
LIABILITIES
Rs. In Millions
|
Particular |
31.03.2012 |
31.03.2011 |
|
a) Claims against the Company not acknowledged as debt |
|
|
|
(i) Income-tax matters |
|
|
|
- Matters decided in favour of the Company but disputed further by the income-tax authorities |
187.400 |
187.400 |
|
- Matters decided against the Company in respect of which the Company has preferred an appeal |
424.200 |
423.100 |
|
Further, the Company has received a draft assessment order for Assessment Year 2008-09 wherein additions of Rs. 13,879 lakhs have been made to the taxable income on account of transfer pricing and other matters. The Company has filed its objections with Dispute Resolution Panel against the draft order. |
|
|
|
(ii) Sales tax matters 102 |
10.200 |
9.400 |
|
(iii) Excise, Service Tax and Customs matters |
12.300 |
30.000 |
|
b) Guarantees given by banks to third parties on behalf of the Company |
79.300 |
43.600 |
|
c) Outstanding letters of credit issued by the bank |
14.800 |
2.300 |
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Short-term
Borrowings |
|
|
|
Export Packing Credit |
1435.100 |
1197.900 |
|
Cash Credit |
361.300 |
81.400 |
|
Inter-Corporate Deposits from Related |
4529.100 |
5435.000 |
|
Total |
6325.500 |
6714.300 |
FIXED
ASSETS:
- Trademarks
- Land
- Building
- Plant and Machinery
- Furniture and Fixture
- Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.70 |
|
|
1 |
Rs.91.14 |
|
Euro |
1 |
Rs.77.98 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
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 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
51 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.