MIRA INFORM REPORT
|
Report Date : |
11.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
CALYX CHEMICALS AND PHARMACEUTICALS LIMITED (w.e.f. 08.09.2006) |
|
|
|
|
Formerly Known
as : |
CALYX CHEMICALS AND PHARMACEUTICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No.110,
Marwah’s Complex, Krishanlal Marwah Estate, Off. Saki Vihar Road, Andheri
(East), Mumbai – 400 072, Maharashtra |
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|
|
Country : |
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Financials (as
on) : |
31.03.2012 |
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|
|
|
Date of
Incorporation : |
14.01.1986 |
|
|
|
|
Com. Reg. No.: |
11-038618 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.160.489 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24220MH1986PLC038618 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC07976D/ MUMC09940A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCC1457B |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Subject
is engaged in manufacturing and dealing in Active Pharmaceutical Ingredients
(APIs), Intermediates and Contract research and manufacturing services. |
|
|
|
|
No. of Employees
: |
496
(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 7264000 |
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|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually Correct |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is a well established company having a satisfactory track
record. It has achieved better growth in its turnover and profits during
2012. Trade relations are reported as decent. Business is active. Payments
are reported to be usually correct. The company can be considered 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 |
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 : |
Unit No.110,
Marwah’s Complex, Krishanlal Marwah Estate, Off. Saki Vihar Road, Andheri
(East), Mumbai – 400 072, Maharashtra, India |
|
Tel. No.: |
91-22-28571191/ 82 |
|
Fax No.: |
91-22-66466401 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
A-37/38, MIDC, Phase 1, Golavli, |
|
Tel. No.: |
91-251-2438310/ 6698300 |
|
Fax No.: |
91-251-2438726 |
|
|
|
|
Factory 1 : |
N
91/102, Tarapur Industrial Area, Boisar, District Thane, Maharashtra, India |
|
|
|
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Factory 2 : |
W
212/213, MIDC, Phase II, Sonarpada, Dombivali (East), District Thane, Maharashtra,
India |
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|
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|
Representative
Office : |
Calyx International
Division (USA) |
|
Tel. No.: |
+1-213-291-7773 |
|
Fax No.: |
+1-775-514-1230 |
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E-Mail : |
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|
Website : |
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Overseas Office : |
SingInd Life
Sciences Pte. Limited 371, Beach Road,
#02-01C Keypoint, Singapore – 199597 |
|
Tel. No.: |
+61-6296 4041 |
|
Fax No.: |
+65-6242 3956 |
DIRECTORS
As on 19.07.2012
|
Name : |
Mr. Smitesh Chandravadan Shah |
|
Designation : |
Managing Director |
|
Address : |
B-403, Eden – III, Hiranadani Grdens, Powai, Mumbai – 400 076,
Maharashtra, India |
|
Date of Birth/Age : |
28.04.1959 |
|
Qualification : |
01.04.1995 |
|
DIN No.: |
00019720 |
|
|
|
|
Name : |
Mr. Bharat Sukhlal Mehta |
|
Designation : |
Director |
|
Address : |
21, Nibbana Pali Hill, Bandra (West), Mumbai – 400 050, Maharashtra,
India |
|
Date of Birth/Age : |
05.01.1938 |
|
Date of Appointment : |
01.04.1995 |
|
DIN No.: |
00038165 |
|
|
|
|
Name : |
Mr. Rajat Indulal Doshi |
|
Designation : |
Director |
|
Address : |
1 E, Dil Pazir, Bhulabhai Desai Road, Cumballa, Gamdevi, Mumbai – 400
026, Maharashtra, India |
|
Date of Birth/Age : |
13.10.1958 |
|
Date of Appointment : |
23.04.2009 |
|
DIN No.: |
02423171 |
|
|
|
|
Name : |
Mr. Jambunathan Sirnivasa Iyer |
|
Designation : |
Director |
|
Address : |
Srinivasa Jambunathan 9, Prakash Co-Operative Housing Society, Relief
Road, Daulat Nagar, Santacruz, Mumbai – 400 024, Maharashtra, India |
|
Date of Birth/Age : |
01.05.1938 |
|
Date of Appointment : |
26.11.2011 |
|
DIN No.: |
00063729 |
|
|
|
|
Name : |
Mr. Abhay Prafulchandra Desai |
|
Designation : |
Director |
|
Address : |
Flat No.502, Glen Classic Apartments, Hiranandani Gardens, Powai,
Mumbai – 400 076, Maharashtra, India |
|
Date of Birth/Age : |
27.06.1962 |
|
Date of Appointment : |
23.03.2010 |
|
DIN No.: |
03016913 |
|
|
|
|
Name : |
Chakradhar Bharat Chhaya |
|
Designation : |
Director |
|
Address : |
204, Gokul Sangeet, 2nd Floor, 22, Linking Road, Extension Santacruz
(West), Mumbai – 400 054, Maharashtra, India |
|
Date of Birth/Age : |
09.11.1943 |
|
Date of Appointment : |
23.03.2010 |
|
DIN No.: |
00968966 |
|
|
|
|
Name : |
Ms. Bhumitra Vinodchandra Dholakia |
|
Designation : |
Director |
|
Address : |
B-46/431, MIG Colony, Gandhi Nagar, Bandra (East), Mumbai – 400 051,
Maharashtra, India |
|
Date of Birth/Age : |
03.09.1949 |
|
Date of Appointment : |
23.03.2010 |
|
DIN No.: |
01871816 |
KEY EXECUTIVES
|
Name : |
Mr. Devanand P. Mojidra |
|
Designation : |
Company Secretary |
|
Address : |
A/504, Kamala Ashish Building, 3 CHS Limited, Mahavir Nagar, Dahanukar
Wadi, Kandivali (West), Mumbai – 400 067, Maharashtra, India |
|
Date of Birth/Age : |
07.02.1973 |
|
Date of Appointment : |
11.05.2012 |
|
PAN No.: |
AHRPM7047F |
|
|
|
|
Name : |
Mr.
Deepak Maroo |
|
Designation : |
Chief Financial Officer |
|
|
|
|
Name : |
Mr. Alpit Bhagalia |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 19.07.2012
Note:
Shareholding details file attached.
As on 19.07.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
10.20 |
|
Bodies
corporate |
|
2.97 |
|
Directors
or relatives of directors |
|
75.56 |
|
Other
top fifty shareholders |
|
11.27 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject
is engaged in manufacturing and dealing in Active Pharmaceutical Ingredients
(APIs), Intermediates and Contract research and manufacturing services. |
||||||||
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Products : |
|
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production* |
|
Active Pharmaceutical Ingredients, Intermediate and Chemicals |
MT |
127463 |
1743 |
NOTE:
·
The Installed capacity
has been certified by the management.
·
* Includes outsourced,
contract manufactured and bought out goods.
GENERAL INFORMATION
|
No. of Employees : |
496
(Approximately) |
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Bankers : |
·
State
Bank of Mysore ·
Bank
of Bahrain and Kuwait ·
Allahabad
Bank ·
Canara
Bank ·
ING
Vysya Bank Limited ·
State
Bank of Mauritius Limited |
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Facilities : |
Details
of Securities For
Sr. A-1 to 8 a) First Pari Passu
Charge by way of hypothecation over entire movable Fixed Assets and mortgage
over the entire immovable properties of the Company present and future. (b) Personal
Guarantees of Three Promoter Directors For Sr. A-9 a) First Pari Passu
charge on all fixed assets and subservient charge on current assets of the
company b) Personal Guarantee of Promoter Director, Mr. Smitesh Shah For Sr. A-10 and 11 a) First Pari Passu
charge on all fixed assets of the Company along with existing and proposed
other lenders b) Second Charge on current assets of the Company c) Personal
Guarantees of three promoter Directors The
interest rates for loans from banks ranges from 12 to 15.50% There
are no defaults as on Balance Sheet date in repayment of loans and interest. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Jatin V. Shah Chartered Accountant |
|
Address : |
261/263, D N Road, 4th Floor, Mumbai – 400 001,
Maharashtra, India |
|
Tel. No.: |
91-22-32948140 |
|
Fax No.: |
91-22-22610775 |
|
PAN No..: |
AVVPS9231R |
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|
|
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Subsidiaries : |
Singind Life Sciences Pte. Limited |
|
|
|
|
Entities
over which Key Management Personnel exercise significant influence/ Others: |
|
CAPITAL STRUCTURE
As on 19.07.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
16413473 |
Equity Shares |
Rs.10/- each |
Rs.164.135 Millions |
|
|
|
|
|
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
16048890 |
Equity Shares |
Rs.10/- each |
Rs.160.489 Millions |
|
|
|
|
|
Reconciliation of the
Shares Outstanding at the beginning and at the end of the reporting period
|
Particulars |
As on 31.03.2012 |
|
|
No. of Shares |
Rs. in millions |
|
|
At
the beginning of the period |
15933240 |
159.332 |
|
Preferential
Allotment as on 26.04.2010 (*) |
- |
- |
|
Preferential
Allotment as on 28.04.2010 |
- |
- |
|
Preferential
Allotment as on 02.11.2010 (**) |
- |
- |
|
Preferential
Allotment as on 31.03.2012 |
115650 |
1.157 |
|
Outstanding
at the end of the period |
16048890 |
160.489 |
*During the previous
year 2010-11, 1000000 shares of Rs.10/- each aggregating to Rs.10.000 millions
have been issued by the Company to Calyx Employees Welfare Trust at par for the
purpose of benefit of its existing and future directors, employees and for
employees' share based payment plan by way of stock option grant at future
date. The trust has subscribed and paid up in full. The eligible employees have
exercised stock options and are allotted/transferred 16,650 shares by the
'Trust', leaving 983350 shares with Trust for option to be exercised at future
date under any Employee Stock Option Schemes.
** 797222 Equity
Shares issued to Lytton Grove Corporation were at a premium of Rs.169.89 per
share.
Terms/Rights attached
to Equity Shares
The Company has only
one class of Equity shares having a par value of Rs.10 per share. Each holder
of Equity shares is entitle one vote per share. The Company declares and pays
dividend proposed by Board of Directors subject to the approval of the
shareholders in the ensuing Annual General Meeting.
During the current
period, interim dividend of Re.1/- per share has been paid and the dividend
amount of Re.0.75 per share is proposed.
In the event of
liquidation of the company, the holders of Equity Shares will be entitled to
receive remaining assets of the Company, after distribution of all preferential
amounts. The distribution will be proportion to the number of
Equity Shares held by
shareholders.
Aggregate number of
Equity Shares issued for consideration other than in cash during the period of
Five years immediately preceding the reporting date
3703710 equity shares
of Rs.10 each were issued in 2008-09 and 2009-10 in two equal parts by
converting 370371 Fully Convertible Preference Shares of Rs.100/- each which
were issued pursuant to a scheme of amalgamation dated 19th April
2006 with Calyx Pharmaceuticals and Chemicals Private Limited.
Details
of Shareholders holding more than 5% shares in the Company
|
Name
of the Shareholder |
As at 31.03.12 |
|
|
No. of Shares |
% of holding |
|
|
Mr. Rajat Indulal Doshi |
3124322 |
19.47% |
|
Mr. Smitesh Chandravadan
Shah jointly with Mrs. Parul Shah |
2275817 |
14.18% |
|
Ms. Alpana Doshi |
146588 |
0.91% |
|
Mr. Bharat S. Mehta
jointly with Mrs. Asha Mehta |
1766939 |
11.01% |
|
Mrs. Asha B. Mehtajtly
jointly with Mr. Bharat Sukhlal Mehta |
1233458 |
7.69% |
|
Mrs. Parul Smitesh Shah
jointly with Smitesh Chandravadan Shah |
1057202 |
6.59% |
|
Mr. Bharat Mehta jointly
with Mr. Jambunathan Iyer and Dr. Bansi Lal (Calyx Employees Welfare Trust) |
983350 |
6.13% |
|
Mr. Amit Bharat Mehta
jointly with Mr. Bharat Sukhlal Mehta |
904657 |
5.64% |
|
Lytton Grove Corporation |
797222 |
4.97% |
Details of Share
Application Money Received
|
Terms
and Conditions |
To be allotted after approval of
Shareholders Investor Grievance Committee and Board |
|
No.
of shares proposed to be issued |
239600 Shares |
|
Amount
of premium |
199600 Shares – Rs.230/ - per share and
40000 Shares – Rs.235/ - per share |
|
The
period before which the shares are to be allotted |
30-May-12 |
|
The
company has sufficient authorized share capital to cover the share capital
amount on allotment of shares out of share application money. |
|
|
Interest
accrued on amount due for refund |
NIL |
|
The
period for which the share application money has been pending beyond the
period for allotment as mentioned in the share application form and the
reasons of such pendency |
Not Applicable |
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 |
|
160.489 |
159.332 |
|
(b) Reserves & Surplus |
|
1597.865 |
1187.591 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
57.704 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
1816.058 |
1346.923 |
|
|
|
|
|
|
(3) Non-current
liabilities |
|
|
|
|
(a) Long-term borrowings |
|
1066.429 |
1175.607 |
|
(b) Deferred tax liabilities (Net) |
|
207.870 |
166.238 |
|
(c) Other long term
liabilities |
|
400.844 |
366.641 |
|
(d) Long-term
provisions |
|
10.153 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
1685.296 |
1708.486 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short
term borrowings |
|
1577.492 |
1024.364 |
|
(b) Trade
payables |
|
1761.960 |
646.052 |
|
(c) Other
current liabilities |
|
365.940 |
373.154 |
|
(d) Short-term
provisions |
|
67.992 |
26.074 |
|
Total
Current Liabilities (4) |
|
3773.384 |
2069.644 |
|
|
|
|
|
|
TOTAL |
|
7274.738 |
5125.053 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
1184.938 |
973.880 |
|
(ii)
Intangible Assets |
|
481.306 |
486.320 |
|
(iii)
Capital work-in-progress |
|
88.360 |
88.762 |
|
(iv)
Intangible assets under development |
|
442.941 |
345.699 |
|
(b) Non-current Investments |
|
2.981 |
2.713 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
29.850 |
27.883 |
|
(e) Other
Non-current assets |
|
18.669 |
34.523 |
|
Total
Non-Current Assets |
|
2249.045 |
1959.780 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
5.159 |
4.889 |
|
(b)
Inventories |
|
2629.276 |
1868.138 |
|
(c) Trade
receivables |
|
1796.906 |
920.727 |
|
(d) Cash
and cash equivalents |
|
464.735 |
188.012 |
|
(e)
Short-term loans and advances |
|
129.617 |
183.507 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
5025.693 |
3165.273 |
|
|
|
|
|
|
TOTAL |
|
7274.738 |
5125.053 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
135.360 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
780.482 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
915.842 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
1579.865 |
|
|
2] Unsecured Loans |
|
|
295.949 |
|
|
TOTAL BORROWING |
|
|
1875.814 |
|
|
DEFERRED TAX LIABILITIES |
|
|
156.246 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2947.902 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1453.601 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
1.020 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
1223.411
|
|
|
Sundry Debtors |
|
|
729.227
|
|
|
Cash & Bank Balances |
|
|
242.460
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
286.456
|
|
Total
Current Assets |
|
|
2481.554
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
913.307
|
|
|
Other Current Liabilities |
|
|
43.003
|
|
|
Provisions |
|
|
50.057
|
|
Total
Current Liabilities |
|
|
1006.367
|
|
|
Net Current Assets |
|
|
1475.187
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
18.094 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2947.902 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
5891.861 |
4171.774 |
3218.025 |
|
|
|
Other Income |
30.139 |
14.766 |
48.662 |
|
|
|
TOTAL (A) |
5922.000 |
4186.540 |
3266.687 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
4528.358 |
3038.899 |
2681.255 |
|
|
|
Purchase of Stock-in-trade |
292.979 |
0.000 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(685.316) |
(114.644) |
|
|
|
|
Employee benefits expenses |
160.826 |
125.302 |
|
|
|
|
Manufacturing Expenses |
154.482 |
125.278 |
|
|
|
|
Administration Expenses |
254.964 |
175.704 |
|
|
|
|
Selling and Distribution Expenses |
32.577 |
41.297 |
|
|
|
|
Research and Development Expenses |
19.811 |
22.176 |
|
|
|
|
TOTAL (B) |
4758.681 |
3414.012 |
2681.255 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1163.319 |
772.528 |
585.432 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
455.870 |
286.637 |
232.453 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
707.449 |
485.891 |
352.979 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
129.430 |
97.704 |
77.371 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
578.019 |
388.187 |
275.608 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
161.836 |
91.461 |
67.238 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
416.183 |
296.726 |
208.370 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
837.922 |
598.665 |
422.057 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Equity Dividend Paid |
15.934 |
0.000 |
31.762 |
|
|
|
Tax on Interim Dividend |
2.585 |
0.000 |
|
|
|
|
Proposed Final Equity Dividend |
12.037 |
23.900 |
|
|
|
|
Tax on Dividend |
1.953 |
3.969 |
|
|
|
|
Transfer to General Reserves |
41.600 |
29.600 |
|
|
|
BALANCE CARRIED
TO THE B/S |
1179.996 |
837.922 |
598.665 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
1486.344 |
817.867 |
389.208 |
|
|
TOTAL EARNINGS |
1486.344 |
817.867 |
389.208 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
0.481 |
0.000 |
0.000 |
|
|
|
Raw Materials |
1522.396 |
1299.467 |
1168.685 |
|
|
|
Consumables |
0.028 |
0.156 |
0.321 |
|
|
TOTAL IMPORTS |
1522.905 |
1299.623 |
1169.006 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
26.12 |
19.33 |
17.61 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
7.03 |
7.09
|
6.38
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.81 |
9.31
|
8.56
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.58 |
8.28
|
7.00
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32 |
0.29
|
0.30
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.46 |
1.63
|
2.05
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33 |
1.53
|
2.47
|
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
|
31)
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32)
PAN of Proprietor/Partner/Director, if available |
No |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
No |
|
Unsecured Loans |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
LONG
TERM BORROWINGS |
|
|
|
Deferred
Payment Liabilities (Deferred
for a period not exceeding 10 years from 31/10/2005, accordingly the
repayment to start from 2015-16) |
17.434 |
17.972 |
|
Loans and advances from related
parties |
|
|
|
From
Directors |
19.700 |
18.950 |
|
From
Shareholders |
9.196 |
5.946 |
|
From Others (Interest
is payable @ 12% p.a.; however, no terms as regards repayments have been
stipulated) |
3.623 |
97.123 |
|
Security Deposits |
0.150 |
0.100 |
|
SHORT
TERM BORROWINGS |
|
|
|
Loan from Indian Overseas Bank |
0.000 |
100.000 |
|
Total |
50.103 |
240.091 |
Note:
The registered office of the company has been shifted from Unit No.2, Marwah’s Complex, Marwah Estate, Saki Vihar Road, Andheri (East), Mumbai – 400 072, Maharashtra to the present address.
CORPORATE
INFORMATION
Subject
is a closely held public limited company domiciled in India and incorporated
under the provisions of the Companies Act, 1956. The Company is engaged in
manufacturing and dealing in Active Pharmaceutical Ingredients (APIs),
Intermediates and Contract research and manufacturing services. The company
caters to both domestic and international markets.
FINANCIAL
RESULTS AND OPERATIONS OF THE COMPANY
Total
Revenue of the Company recorded a growth of 41.45% to Rs.5922.000 millions as
compared to Rs.4186.540 millions in previous financial year. The net profit of
the Company rose by 40.26% to Rs.416.183 millions as compared to Rs.296.726
millions in previous year. The Company has achieved the export of Rs.1489.300
millions during the year.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U24220MH1986PLC038618 |
|
Name of the
company |
CALYX CHEMICALS AND PHARMACEUTICALS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Unit No. 2,
Marwah’s Complex, Marwah Estate, |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10210773 |
|
Type of charge |
|
|
Particular of
charge holder |
State Bank of |
|
Nature of
instrument creating charge |
Letter No.
F/Adv/Calyx/1947 dated 07.02.2012 issued by State Bank of Hyderabad. |
|
Date of
instrument Creating the charge |
07.02.2012 |
|
Amount secured by
the charge |
Rs.200.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As may be
stipulated by the banks from time to time Terms of Repayment Corporate Loan of
Rs.200.000 Millions shall be repayable in suitable installments. Margin As may be
stipulated by the banks from time to time Extent and Operation of the charge The Bank has
agreed to retain its subservient charge in place of its existing first
charge, over all the present and future current assets including all goods
and book debts of the company for securing its Corporate Loan of Rs.200.000
Millions sanctioned by the Bank to the company. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Subservient
charge on all current Assets of the company with all other lenders. First charge on
all fixed assets of the company along with all other lenders. |
|
Date of
instrument modifying the charge |
27.04.2010 |
|
Particulars of
the present modification |
The bank has retained
its subservient charge in place of its existing first charge, over all the
present and future current assets including all goods and book debts of the
company for securing its corporate loan of Rs.200.000 Millions sanctioned by
the Bank to the company. However, the charge created on fixed assets of the
cop-many shall continue to the security by way of first charges in favour of
the Bank to secure its corporate loan of Rs.200.000 Millions |
FIXED ASSETS:
·
·
Building
·
Plant and Machinery
·
Air Conditioner
·
Computer
·
Electrical Installation
·
Furniture and Fixture
·
Laboratory Equipments
·
Vehicles
·
Office Equipments
·
Air Conditioner
·
Computer
WEBSITE DETAILS:
NEWS:
14 FDI PROPOSALS WORTH RS.1133.500 MILLIONS
CLEARED: GOVERNMENT
PTI October 8, 2012
NEW DELHI: The
government today said it has cleared 14 FDI proposals worth Rs.1133.500
millions including three from the pharmaceutical sector.
The Foreign
Investment Promotion Board (FIPB) in its meeting held on September 18 approved 14
FDI proposals, which include 3 proposals worth Rs.810.500 millions in
pharmaceuticals, the Finance Ministry said in a statement.
Among others, the
board, headed by Department of Economic Affairs Secretary Arvind Mayaram,
cleared the proposal of United Kingdom-based Dashtag to increase foreign equity
valued at Rs.682.200 millions.
This is to carry
out the business of pharmaceuticals specialising in dermatology,
anti-histamines, antibiotics and oncology products.
Clearance was
also given to Prime Surgical Centers Private Limited proposal to set up a
Limited Liability Partnership (LLP) to carry out the business of establishing
and managing short stay surgery centres in India with its flagship centre in
Pune. The company proposes to bring FDI worth Rs.140.000 millions in the
venture.
Further, the
proposal of Mumbai-based Neo Capricorn Plaza Limited for post-facto approval
for issue of partly paid up shares to carry out the business of construction of
five star hotels was okayed.
FIPB also cleared
the proposal of Pipavav Defence and Offshore Engineering Company Limited to
increase foreign equity by way of issuance of FCCBs to carry out the business
of shipbuilding, ship repairs, offshore assets production etc.
Other proposals
which have been approved are those of Calyx Chemicals and Pharmaceuticals
Limited, Egon Software Private Limited and Alburaq Trading LLP.
Decisions on nine
proposals were deferred due to various reasons. These includes applications of
Multi Commodity Exchange of India, Multi Screen Media Private and Deutsche
Investments India Private Limited.
Also, seven
requests for FDI including that of British Marine India, Atlas Equifin Limited,
Filtrex Technologies and IPsoft Netherland were rejected, the ministry said.
FDI inflows in
the country in 2011-12 stood at $ 36.50 billion.
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.60.13 |
|
|
1 |
Rs.89.52 |
|
Euro |
1 |
Rs.76.89 |
INFORMATION DETAILS
|
Report Prepared by
: |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.