MIRA INFORM REPORT

 

 

Report Date :

22.07.2013

 

IDENTIFICATION DETAILS

 

Name :

SUN PHARMACEUTICAL INDUSTRIES LIMITED

 

 

Registered Office :

Sun Pharma Advance Research Centre (SPARC), Tandalja,  Akota Road, Vadodara – 390020, Gujarat

 

 

Country :

India

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

01.03.1993

 

 

Com. Reg. No.:

04-019050

 

 

Capital Investment / Paid-up Capital :

Rs.1035.600 Millions

 

 

CIN No.:

[Company Identification No.]

L24230GJ1993PLC019050

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

BRDS02426E

 

 

PAN No.:

[Permanent Account No.]

AADCS3124K

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

Manufacturers of Tablets, Capsules, Parenterals, Ointments, Bulk Drugs, Chemicals and Liquids.

 

 

No. of Employees :

1500 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Aa (75)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

USD 324000000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exists 

 

 

Comments :

Subject is a well established and reputed company having fine track record.

 

Financials are strong and healthy. Liquidity position is good. Directors are reported to be experience and respectable businessmen.

 

Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments.

 

The company can be considered for business dealings at usual trade terms and conditions.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – March 31st, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CRISIL

Rating

AAA (Long Term Rating)

Rating Explanation

Highest degree of safety and lowest credit risk.

Date

January 10, 2013

 

Rating Agency Name

CRISIL

Rating

A1+ (Short Term Rating)

Rating Explanation

Very strong degree of safety and lowest credit risk.

Date

January 10, 2013

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

 

 

INFORMATION PARTED BY

 

Name :

Ms. Sheetal

Designation :

Accounts Department  

Contact No.:

91-22-66969696

Date :

22.07.2013

 

 

LOCATIONS

 

Registered Office/ Research Centre 1 :

Sun Pharma Advance Research Centre (SPARC), Tandalja,  Akota Road, Vadodara – 390020, Gujarat, India

Tel. No.:

91-265-2340001 / 5515500 / 600 / 700

Fax No.:

91-265-2339103 / 2354897/ 2332664

E-Mail :

corpcomm@sunpharma.com

helpdesk@sunpharma.com

secretarial@sunpharma.com

ashok.bhuta@sunpharma.com

Website :

http://www.sunpharma.com

 

 

Corporate Office :

Acme Plaza, Andheri – Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra, India

Tel. No.:

91-22-28211822 / 1842 / 1917 / 1951 / 1953

Fax No.:

91-22-28212010

E-Mail :

corpcomm@sunpharma.com

 

 

Research Centre 2 :

·         F.P 27, Part Survey No. 27, C. S. No. 1050, T. RS. Village, Tandalja, District Vadodara - 390 020, Gujarat, India

 

·         17-B, Mahal Industrial Estate, Mahakali Caves Road, Andheri (East), Mumbai - 400059, Maharashtra, India

 

·         Chemistry and Discovery Reaserch Israel, 14 Hakitor Street, P.O. Box, 10347 Haifa Boy 26110, Israel

 

 

 

 

Factory 1 :

Plot No. 214, Plot No. 20, Government Industrial Area, Phase II, Piparia, Silvassa – 396230, Union Territory

 

 

Factory 2 :

Halol-Baroda Highway, Near Anand Kendra, Halol, District Panchmahal - 389350, Gujarat, India

 

 

Factory 3 :

Plot No. 24/2 and 25, GIDC, Phase-IV, Panoli, District Bharuch - 394116, Gujarat, India

 

 

Factory 4 :

A-7 and A-8, MIDC Ind. Area, Ahmednagar - 414111, Maharashtra, India

 

 

Factory 5 :

Plot No. 4708, GIDC. Ankleshwar - 393 002, Gujarat, India

 

 

Factory 6 :

Sathammai Village, Karunkuzhi Post, Maduranthakam TK, District Kanchipuram - 603303, Tamilnadu, India 

 

 

Factory 7 :

Plot No. 223, Span Industrial Complex, Dadra - 396191, Union Territory

 

 

Factory 8 :

Plot No. 817/A, Karkhadi, Taluka Padra, District Vadodara - 391450, Gujarat, India

 

 

Factory 9 :

Sun Pharma Drugs Private Limited

Plot No. 754, Nandok Block, Setipool, P.O. Ranipool – 737135, Sikkim, India

 

 

Factory 10 :

Sun Pharma Medication Private Limited

Survey No. 259/15, Dadra – 396191, Union Territory

 

 

Factory 11 :

Sun Pharma Medication Private Limited

6-9 Export Promotion Industrial Park (EPIP), Kartholi, Bari Brahmana, Jammu - 181133, Jammu and Kashmir, India

 

 

Factory 12 :

Sun Pharma Medication Private Limited

I.G.C. Phase-I, Samba – 184121, Jammu and Kashmir, India

 

 

Factory 13 :

Sun Pharmaceutical Industries Inc.

705, E. Mulberry Street, Bryan, Ohio – 43506, USA

 

 

Factory 14 :

Sun Pharmaceutical Industries Inc.

270 Prospect Plains Road, Cranbury, New Jersey – 08512, USA

 

 

Factory 15 :

Caraco Pharmaceutical Laboratories Limited

1150 Elijah McCoy Drive, Detroit – 48202, Michigan, USA

 

 

Factory 16 :

Sun Pharmaceutical (Bangladesh) Limited

Chandana, Joydevpur, Gazipur, Bangladesh

 

 

Factory 17 :

Alkaloida Chemical Company Zrt

H-4440 Tiszavasvari , Kabay, Janos u.29, Hungary

 

 

Factory 18 :

TKS Farmaceutica

Rodovia GO-080, Km 02, Chacaras 01/02, Jardim Pompeia, Goiania/GO, Brazil CEP: 74690-170

 

 

Factory 19 :

Sun Pharma de Mexico S.A. de C.V, Av.

Rio Churubusco No. 658, Col. El Sifon, Del. Iztapalapa, C.P 09400 Mexico, Distrito Federal

 

 

Factory 20 :

Chattem Chemicals, Inc.

3708, St. Elmo Avenue, Chattanooga, TN 37409, USA

 

 

Factory 21 :

Taro Pharmaceuticals Inc.

130 East Drive, Brampton, Ontario L6T 1C1, Canada

 

 

Factory 22 :

Taro Pharmaceutical Industries Limited

14 Hakitor Street, P.O. Box 10347 Haifa Bay 26110, Israel

 

 

DIRECTORS

 

AS ON 31.03.2012

 

Name :

Mr. Israel Makov

Designation :

Chairman

 

 

Name :

Mr. Dilip S. Shanghvi

Designation :

Managing Director

Qualification :

B. Com.

Date of Appointment :

01.04.1993

 

 

Name :

Mr. Sudhir V. Valia

Designation :

Whole Time Director

Qualification :

FCA

Date of Appointment :

01.04.1994

 

 

Name :

Mr. S. Kalyanasundaram

Designation :

Whole Time Director and Chief Executive Officer

 

 

Name :

Mr. Sailesh T. Desai

Designation :

Whole Time Director

 

 

Name :

Mr. S. Mohanchand Dadha

Designation :

Director

 

 

Name :

Mr. Hasmukh S. Shah

Designation :

Director

 

 

Name :

Mr. Ashwin Dani

Designation :

Director

 

 

Name :

Mr. Keki M. Mistry

Designation :

Additional Director

 

 

KEY EXECUTIVES

 

Name :

Mr. Sunil R. Ajmera

Designation :

Company Secretary

E mail :

secretarial@sunpharma.com

 

 

Name :

Ms. Sheetal

Designation :

Accounts Department  

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.06.2013

 

Category of Shareholders

No. of Shares

Percentage of Holding

(A) Shareholding of Promoter and Promoter Group

 

 

http://www.bseindia.com/include/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/include/images/clear.gifIndividuals / Hindu Undivided Family

152326100

14.71

http://www.bseindia.com/include/images/clear.gifBodies Corporate

506512000

48.91

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

640100

0.06

http://www.bseindia.com/include/images/clear.gifTrusts

640100

0.06

http://www.bseindia.com/include/images/clear.gifSub Total

659478200

63.68

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

Total shareholding of Promoter and Promoter Group (A)

659478200

63.68

(B) Public Shareholding

 

 

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gifMutual Funds / UTI

13046472

1.26

http://www.bseindia.com/include/images/clear.gifFinancial Institutions / Banks

20286435

1.96

http://www.bseindia.com/include/images/clear.gifCentral Government / State Government(s)

224604

0.02

http://www.bseindia.com/include/images/clear.gifForeign Institutional Investors

235698552

22.76

http://www.bseindia.com/include/images/clear.gifQualified Foreign Investor

15800

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

269271863

26.00

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

49077703

4.74

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital up to Rs. 0.100 Million

37630706

3.63

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital in excess of Rs. 0.100 Million

14026985

1.35

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

6096498

0.59

http://www.bseindia.com/include/images/clear.gifNon Resident Indians

848062

0.08

http://www.bseindia.com/include/images/clear.gifClearing Members

1451003

0.14

http://www.bseindia.com/include/images/clear.gifTrusts

719933

0.07

http://www.bseindia.com/include/images/clear.gifForeign Corporate Bodies

646450

0.06

           Directors and their Relatives and Friends

2408050

0.23

           Overseas Corporate Bodies

23000

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

106831892

10.32

Total Public shareholding (B)

376103755

36.32

Total (A)+(B)

1035581955

100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued

0

0.00

http://www.bseindia.com/include/images/clear.gif(1) Promoter and Promoter Group

0

0.00

http://www.bseindia.com/include/images/clear.gif(2) Public

0

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

0

0.00

Total (A)+(B)+(C)

1035581955

0.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturers of Tablets, Capsules, Parenterals, Ointments, Bulk Drugs, Chemicals and Liquids.

 

 

Products :

ITC Code

Product Description

30049038

Pantaprazole Sodium

30033900

Losartan Potassium

30049065

Metformin Hydrochloride

29420090

Pentoxifyline

 

 

Terms :

 

Selling :

Credit

 

 

Purchasing :

Credit

 

PRODUCTION STATUS (As on 31.03.2011)

 

Particulars

Installed Capacity

Actual Production

Tablets/ Capsules/ Parenterals / Ointments

7157.4

No. in Millions

1187.7

No. in Millions

Bulk Drugs/ Chemicals

2085.7

[In Kilo Litres]

2252.5

[In ’00 Kgs]

 

 

GENERAL INFORMATION

 

Customers :

End Users

 

 

 

 

No. of Employees :

1500 (Approximately)

 

 

Bankers :

·         Bank of Baroda

·         Bank of Nova Scotia

·         Citibank N.A.

·         ICICI Bank Limited

·         Kotak Mahindra Bank Limited

·         Standard Chartered Bank

·         State Bank of India

 

 

Facilities :

Secured Loan

 

Rs. In Millions

31.03.2012

Rs. In Millions

31.03.2011

Short-Term Borrowings

 

 

Loans Repayable on Demand

 

 

Cash Credit Facility from Banks

(Secured by hypothecation of Inventories and Trade Receivables)

403.000

505.300

 

 

 

TOTAL

403.000

505.300

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Deloitte Haskins and Sells

Chartered Accountants,

Address :

Mumbai, Maharashtra, India

 

 

Subsidiaries :

·         Alkaloida Chemical Company Zrt

·         Caraco Pharmaceutical Laboratories Limited

·         Chattem Chemical Inc

·         Green Eco Development Centre Limited

·         OOO "Sun Pharmaceutical Industries Limited

·         TKS Farmaceutica Ltda

·         Sun Pharma De Mexico S.A. DE C.V.

·         Sun Pharma De Venezuela, CA

·         Sun Pharma Global Inc

·         Sun Pharmaceutical (Bangladesh) Limited

·         Sun Pharmaceutical Industries (Europe) B.V.

·         Sun Pharmaceutical Industries Inc

·         Sun Pharmaceutical Spain, S.L.

·         Sun Pharmaceuticals France

·         Sun Pharmaceuticals Germany GmbH

·         Sun Pharma Global (FZE)

·         Sun Pharmaceuticals Italia S.R.L.

·         Sun Pharmaceuticals UK Limited

·         Taro Pharmaceutical Industries Limited

·         Sun Pharmaceutical Industries (Australia) Pty. Limited

·         Aditya Acquisition Company Limited

·         Sun Pharmaceuticals (SA) (Pty) Limited

·         Sun Global Canada Pty Limited

·         Sun Pharmaceutical Peru S.A.C.

·         Taro Development Corporation

·         ZAO Sun Pharma Industries Limited

·         SPIL De Mexico S.A. DE C.V.

·         Caraco Pharma Inc

·         3 Sky Line LLC

·         One Commerce Drive LLC

·         Taro Healthcare Limited

·         Taro Hungary Intellectual Property Licensing LLC

·         Taro Industries Limited

·         Taro International Limited - Israel

·         Taro Laboratories Limited

·         Taro Manufacturing Limited

·         Taro Pharmaceutical INC

·         Taro Pharmaceutical India Private Limited

·         Taro Pharmaceutical Laboratories INC

·         Taro Pharmaceutical U.S.A., INC

·         Taro Pharmaceuticals Europe B.V

·         Taro Pharmaceuticals Ireland Limited

·         Taro Pharmaceuticals North America INC

·         Taro Pharmaceuticals UK Limited

·         Taro Research Institute Limited

·         Tarochem Limited

·         Morley and Company Inc

·         Sun Laboratories FZE

·         Taro Pharmaceuticals Canada Limited

·         Sun Laboratories Inc

·         Taro International Limited - UK

·         Sun Global Development FZE

·         Sun Pharmaceuticals Korea Limited

·         Sun Pharma Philipinnes Inc

·         Caraco Pharmaceuticals Private Limited

·         Sun Pharma MEA JLT

·         Sun Pharma Healthcare FZE

·         Sun Pharma Japan Limited

·         Sun Resins and Polymers Private Limited

 

 

Controlled Entity :

·         Sun Pharma Exports

·         Sun Pharmaceutical Industries

·         Sun Pharma Sikkim

·         Sun Pharma Drugs

·         Universal Enterprise Private Limited

 

 

Enterprise under significant Influence of Key Management Personnel or their relative :

·         Sun Petrochemicals Private Limited

·         Navjivan Rasayan (Gujarat) Private Limited

·         Sun Pharma Advanced Research Company Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2012

 

Authorised Capital :

 

No. of Shares

Type

Value

Amount

 

 

 

 

1500000000

Equity Shares

Rs.1/- each

Rs. 1500.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

 

No. of Shares

Type

Value

Amount

 

 

 

 

1035581955

Equity Shares

Rs.10/- each

Rs. 1035.600 Millions

 

 

 

 

 

 

Rights, Preferences and Restrictions attached to Equity Shares

 

The Company has only one class of shares referred to as equity shares having a par value of Rs. 1 per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

 

 

Equity Shares held by each shareholder holding more than 5 percent Equity Shares in the Company are as follows:

 

 

As at 31st March, 2012

Name of Shareholders

No. of Shares held

% of Holding

Dilip Shantilal Shanghvi

115570240

11.2

Viditi Investments Private Limited

100692660

9.7

Tejaskiran Pharmachem Inds. Private Limited

97671880

9.4

Family Investment Private Limited

91463720

8.8

Quality Investment Private Limited

91434320

8.8

 

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

 

1035.600

1035.600

(b) Reserves & Surplus

 

80050.500

65769.700

(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)

 

81086.100

66805.300

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

0.000

0.000

(b) Deferred tax liabilities (Net)

 

1423.400

1285.100

(c) Other long term liabilities

 

20.300

21.900

(d) long-term provisions

 

986.200

86.800

Total Non-current Liabilities (3)

 

2429.900

1393.800

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

403.000

505.300

(b) Trade payables

 

4001.900

2696.600

(c) Other current liabilities

 

625.400

420.800

(d) Short-term provisions

 

5154.900

4244.200

Total Current Liabilities (4)

 

10185.200

7866.900

 

 

 

 

TOTAL

 

93701.200

76066.000

 

 

 

 

II.    ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

9797.400

7831.800

(ii) Intangible Assets

 

235.600

112.100

(iii) Capital work-in-progress

 

2488.700

1956.500

(b) Non-current Investments

 

32122.300

17785.900

(c) Deferred tax assets (net)

 

0.000

0.000

(d)  Long-term Loan and Advances

 

6595.300

1438.900

(e) Other Non-current assets

 

28.300

1.900

Total Non-Current Assets

 

51267.600

29127.100

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

8449.800

18228.300

(b) Inventories

 

7861.500

6182.600

(c) Trade receivables

 

8373.200

5426.200

(d) Cash and cash equivalents

 

13277.100

12509.100

(e) Short-term loans and advances

 

3931.900

4183.500

(f) Other current assets

 

540.100

409.200

Total Current Assets

 

42433.600

46938.900

 

 

 

 

TOTAL

 

93701.200

76066.000

 

 

SOURCES OF FUNDS

 

 

 

31.03.2010

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

 

 

1035.600

2] Share Application Money

 

 

0.000

3] Reserves & Surplus

 

 

56144.200

4] (Accumulated Losses)

 

 

0.000

NETWORTH

 

 

57179.800

LOAN FUNDS

 

 

 

1] Secured Loans

 

 

294.900

2] Unsecured Loans

 

 

0.000

TOTAL BORROWING

 

 

294.900

DEFERRED TAX LIABILITIES

 

 

1153.300

 

 

 

 

TOTAL

 

 

58628.000

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

 

7405.200

Capital work-in-progress

 

 

921.500

 

 

 

 

INVESTMENT

 

 

39516.900

DEFERREX TAX ASSETS

 

 

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
 
 
5701.400

 

Sundry Debtors
 
 
5532.900

 

Cash & Bank Balances
 
 
1872.700

 

Other Current Assets
 
 
73.900

 

Loans & Advances
 
 
3661.300

Total Current Assets
 
 
16842.200

Less : CURRENT LIABILITIES & PROVISIONS
 
 

 

 

Sundry Creditors
 
 
1482.500

 

Other Current Liabilities
 
 
1150.500

 

Provisions
 
 
3424.800

Total Current Liabilities
 
 
6057.800

Net Current Assets
 
 
10784.400

 

 

 

 

MISCELLANEOUS EXPENSES

 

 

0.000

 

 

 

 

TOTAL

 

 

58628.000

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2012

31.03.2011

31.03.2010

 

SALES

 

 

 

 

 

Income

40155.600

31075.700

18461.300

 

 

Other Operating Income

0.000

0.000

6776.600

 

 

Other Income

3428.500

1941.300

1229.300

 

 

TOTAL                                    

43584.100

33017.000

26467.200

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

9406.400

7131.300

16280.900

 

 

Purchases of Stock-in-Trade

1874.800

1766.800

 

 

 

Employee Benefits Expense

3165.600

2610.900

 

 

 

Other Expenses

8829.200

6254.700

 

 

 

Changes in Inventories of Finished Goods, Work-in-Progress and Stock-in-Trade

(706.600)

71.200

 

 

 

TOTAL                                    

22569.400

17834.900

16280.900

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

21014.700

15182.100

10186.300

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION                    

757.200

642.300

694.700

 

 

 

 

 

 

PROFIT BEFORE TAX

20257.500

14539.800

9491.600

 

 

 

 

 

Less

TAX                                                                 

977.700

701.800

505.100

 

 

 

 

 

 

PROFIT AFTER TAX

19279.800

13838.000

8986.500

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

23517.000

18891.500

16225.900

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Proposed Dividend on Equity Share

4401.200

3624.500

2847.900

 

 

Corporate Dividend Tax

714.000

588.000

473.000

 

 

Transfer to General Reserve

7500.000

5000.000

3000.000

 

 

Proposed Dividend Written Back

(100.000)

0.000

0.000

 

 

Corporate Dividend Tax Written Back

(16.200)

0.000

0.000

 

BALANCE CARRIED TO THE B/S

30297.800

23517.000

18891.500

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

14628.200

9005.600

8389.500

 

TOTAL EARNINGS

14628.200

9005.600

8389.500

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

2895.200

2585.800

3003.900

 

 

Packaging Material

669.000

337.300

242.600

 

 

Capital Goods

907.800

903.500

242.000

 

 

Stores and Spares

347.100

213.200

26.400

 

TOTAL IMPORTS

4819.100

4039.800

3514.900

 

 

 

 

 

 

Earnings Per Share (Rs.)

18.60

13.40

43.40

 

 

QUARTERLY RESULTS

 

PARTICULARS

 

30.06.2012

1st Quarter

30.09.2012

2nd Quarter

31.12.2012

3rd Quarter

31.03.2013

4th Quarter

Net Sales

10052.100

10353.400

8767.100

7810.700

Total Expenditure

6692.600

7086.800

7828.000

7130.500

PBIDT (Excl OI)

3359.500

3266.600

939.100

680.200

Other Income

0.000

1145.900

336.500

570.600

Operating Profit

3359.500

4412.500

1275.600

1250.800

Interest

1.100

2.000

1.200

1.000

Exceptional Items

0.000

0.000

0.000

0.000

PBDT

3358.400

4410.500

1274.400

1249.800

Depreciation

211.200

217.800

229.500

204.800

Profit Before Tax

3147.200

4192.700

1044.900

1045.000

Tax

220.900

486.500

302.700

454.700

Provisions and contingencies

0.000

0.000

0.000

0.000

Profit After Tax

2926.300

3706.200

742.200

590.300

Extraordinary Items

0.000

0.000

0.000

0.000

Prior Period Expenses

0.000

0.000

0.000

0.000

Other Adjustments

0.000

0.000

0.000

0.000

Net Profit

2926.300

3706.200

742.200

590.300

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2012

31.03.2011

31.03.2010

PAT / Total Income

(%)

44.24

41.91
33.95

 

 

 

 
 

Net Profit Margin

(PBT/Sales)

(%)

50.45

46.79
51.41

 

 

 

 
 

Return on Total Assets

(PBT/Total Assets}

(%)

34.28

25.81
39.14

 

 

 

 
 

Return on Investment (ROI)

(PBT/Networth)

 

0.25

0.22
0.17

 

 

 

 
 

Debt Equity Ratio

(Total Debt/Networth)

 

0.00

0.01
0.01

 

 

 

 
 

Current Ratio

(Current Asset/Current Liability)

 

4.17

5.97
2.78

 

 

LOCAL AGENCY FURTHER INFORMATION

 

CHARGES

 

Entity

Competent Authority

Regulatory Charges

Regulatory Actions / Date of Order

PHARMACEUTICAL INDUSTRIES LIMITED    

CBEC 

DEFAULTED IN PAYMENT OF CUSTOMS/EXCISE DUTIES

NOTICE ISSUED UNDER SECTION 142 OF CUSTOMS ACT, 1962

09-March-2004

 

COURT CASE

 

HIGH COURT OF GUJARAT

 

TAX APPEAL No. 742 of 2006

 

Status : PENDING

( Converted from : ST/986/2006 )

CCIN No : 001092200600742

 

 

Last Listing Date :

22.02.2008

Coram

·         HONOURABLE THE CHIEF JUSTICE Y.R.MEENA

·         HONOURABLE MR.JUSTICE J.C.UPADHYAYA

 

 

Name of the Petitioner

Advocate On Record

COMMISSIONER OF INCOME TAX

MRS MAUNA M BHATT for: Appellant(s) 1

 

 

Name of the Respondant

Advocate On Record

SUN PHARMACEUTICAL INDUSTRIES LIMITED

MRS SWATI SOPARKAR for :Opponent(s) 1

 

 

Presented On

05.04.2006

Registered On

05.04.2006

Bench Category

DIVISION BENCH

District

AHMEDABAD

Case Originated From

THROUGH ADVOCATE

Listed

5 times

Stage Name

FOR FINAL HEARING - TAX MATTERS

Act

TAXATION LAWS (CONTINUATION AND VALIDATION OF RECOVERY PROCEEDINGS) ACT, 1964

 

 

OFFICE DETAILS

 

S. No.

Filing Date

Document Name

Advocate Name

Court Fee on Document

Document Details

1

15.08.2006

VAKALATNAMA

MRS MAUNA M BHATT ADVOCATE
for PETITIONER(s) 1

--

MRS MAUNA M BHATT:1

2

15.08.2006

VAKALATNAMA

MRS SWATI SOPARKAR ADVOCATE
for RESPONDENT(s) 1

--

MRS SWATI SOPARKAR:1

3

12.12.2006

VAKALATNAMA

MRS SWATI SOPARKAR ADVOCATE
for RESPONDENT(s) 1

5

MRS SWATI SOPARKAR:1

4

12.12.2008

APPEARANCE NOTE

MRS MAUNA M BHATT ADVOCATE
for PETITIONER(s) 1

--

MRS MAUNA M BHATT:1

 

 

COURT PROCEEDINGS

 

S. No.

Notified Date

Court Code

Stage

Action

Coram

1

04.05.2006

1

FOR OFFICE OBJECTION

NEXT DATE

REGISTRAR (JUDICIAL)

2

10.11.2006

1

FOR ADMISSION TAXATION MATTERS

NEXT DATE

·         HONOURABLE THE CHIEF JUSTICE Y. R. MEENA

·         HONOURABLE MR.JUSTICE ANANT S. DAVE

3

22.02.2008

1

FOR FINAL HEARING - TAX MATTERS

FIXED RULE / ADMIT

·         HONOURABLE THE CHIEF JUSTICE Y. R. MEENA

·         HONOURABLE MR.JUSTICE J. C. UPADHYAYA

 

 

AVAILABLE ORDERS

 

S. No.

Case Details

Judge Name

Order Date

CAV

Judgement

1

TAX APPEAL/742/2006

·         HONOURABLE THE CHIEF JUSTICE Y.R.MEENA

·         HONOURABLE MR.JUSTICE ANANT S. DAVE

10.11.2006

 

 

 

 

CERTIFIED COPY

S. No.

Applicant Name

Application Type

Application Date

UOL Number

Order

Date

Notify Date

Delivery Date

Status

1

MR MANISH R BHATT

ORDINARY

14.11.2006

O / 46656 / 2006

10.11.2006

20.11.2006

22.11.2006

Delivered

 

 

 

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

No

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

No

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

 

 

 

CONTINGENT LIABILITIES

(Rs. In Millions)

Particular

 

31.03.2012

31.03.2011

Claims against the Company not acknowledged as debts

23.600

15.300

Guarantees Given by the bankers on behalf of the Company

226.900

160.100

Corporate Guarantees

157.500

72.900

Letters of Credit for Imports

243.300

166.700

Liabilities Disputed - Appeals filed with respect to :

 

 

Income Tax on account of Disallowances / Additions

2134.400

290.200

Sales Tax on account of Rebate / Classification

22.900

25.600

Excise Duty on account of Valuation / Cenvat Credit

319.400

318.400

ESIC Contribution on account of applicability

0.200

0.200

Drug Price Equalisation Account [DPEA] on account of demand towards unintended benefit, including interest there on, enjoyed by the Company

14.000

14.000

Demand by JDGFT import duty with respect to import alleged to be in excess of entitlement as per the Advanced Licence Scheme

12.000

11.500

 

FIXED ASSETS

 

Tangible Assets

·         Freehold Land

·         Leasehold Land

·         Buildings

·         Buildings – Leased

·         Plant and Equipment

·         Vehicles

·         Office Equipment

·         Furniture and Fixtures

 

Intangible Assets

·         Trademarks

·         Designs

 

 

AS PER WEBSITE DETAILS

 

PRESS RELEASES

 

SUN PHARMA ANNOUNCES USFDA APPROVAL FOR GENERIC PRANDIN®

Company has 180-day marketing exclusivity

 

Mumbai, July 12, 2013: Sun Pharmaceutical Industries Limited. (Reuters: SUN.BO, Bloomberg: SUNP IN, NSE:

SUNPHARMA, BSE: 524715) today announced that the US FDA has granted its subsidiary final approval for its

Abbreviated New Drug Applications (ANDA) for generic version of Prandin®, Repaglinide tablets.

 

Repaglinide tablets, 1 mg and 2 mg are therapeutic equivalents of Novo Nordisk’s Prandin® tablets. These tablets

have annual sales of approximately USD 200 million in the US. Repaglinide tablets are indicated as an adjunct to

diet and exercise to improve glycemic control in adults with type-2 diabetes mellitus.

 

Sun Pharma’s subsidiary, being the first-to-file an ANDA for generic Prandin® with a para IV certification, is eligible for a 180-day marketing exclusivity in the US.

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organizatio 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 records 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. 59.79

UK Pound

1

Rs. 91.03

Euro

1

Rs. 78.52

 

 

INFORMATION DETAILS

 

Information Gathered by :

PLK

 

 

Report Prepared by :

DPT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

9

PAID-UP CAPITAL

1~10

9

OPERATING SCALE

1~10

9

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

9

--PROFITABILIRY

1~10

7

--LIQUIDITY

1~10

8

--LEVERAGE

1~10

8

--RESERVES

1~10

8

--CREDIT LINES

1~10

8

--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

YES

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

75

 

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

-

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.