MIRA
INFORM REPORT
|
Report Date : |
27.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
NECTAR LIFE SCIENCES LIMITED |
|
|
|
|
Formerly Known
As : |
SURYA MEDICARE LIMITED |
|
|
|
|
Registered
Office : |
Village Saidpura, Tehsil Dera Bassi, District |
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|
Country : |
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|
Financials (as
on) : |
31.03.2012 |
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|
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|
Date of
Incorporation : |
27.06.1995 |
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|
|
|
Com. Reg. No.: |
16-016664 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.224.260 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24232PB1995PLC016664 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PTLS10181D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS6468G |
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|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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|
|
Line of Business
: |
Manufacturer of Medicines like Ampicillin, Trihydrate, S. Sterilite,
Amoxycillin. |
|
|
|
|
No. of Employees
: |
1700 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 31300000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
Litigation : |
Clear |
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Comments : |
Subject is a well
established company having a good track record. There appears dip in the profitability
during 2012. However, general
financial position seems to be strong. Trade relations are reported to be
fair. Business is active. Payments are reported to be regular and as per
commitment. 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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 |
FITCH |
|
Rating |
A- (Long Term Rating) |
|
Rating Explanation |
High credit quality and capacity for payment
of financial commitment is considered strong. |
|
Date |
March 22, 2012 |
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 : |
Village Saidpura,
Tehsil Dera Bassi, District |
|
Tel. No.: |
91-1762-308000/
308001/ 231187/ 231287/ 231387 |
|
Fax No.: |
91-1762-281187 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Head Office : |
No.1596, Bhaigrath Place, Chandni Chowk, Delhi – 110048,
India |
|
E-Mail : |
91-11-23866341/ 23869202-03 |
|
Fax No.: |
91-11-23866341 |
|
|
|
|
Corporate
Office : |
SCO 38-39, Sector
9-D, Chandigarh – 160009 (U.T.), India |
|
Tel. No.: |
91-172-3047777/
3047701 |
|
Fax No.: |
91-172-3047755 |
|
|
|
|
Factory : |
110, Industrial Area,
Phase-I, Chandigarh - 160002, India |
|
Tel. No.: |
91-172-2658317/
2655166/ 2655438/ 2655775 |
|
Fax No.: |
91-172-2655377 |
|
E-Mail : |
|
|
Area : |
2500 sq.yds. |
|
Location : |
Owned |
|
|
|
|
Factory : |
Village: Saidpura, Tehsil: Derabassi,
District Mohali, Punjab, India
Village: Saidpura, Tehsil: Derabassi,
District Mohali, Punjab, India
Village Bhatoli Kalan, Pargana Dharmpur, Tehsil Nalagarh,
District Solan, Himachal Pradesh,
India
Village Bhatoli Kalan, Pargana Dharmpur, Tehsil Nalagarh,
District Solan, Himachal Pradesh,
India
Plot No. 2, Lane No. 4, Phase II, SIDCO Industrial Complex, Bari
Brahmana, Jammu, Jammu and Kashmir, India |
|
|
|
|
Branches : |
Located
at :
|
|
|
|
|
Administrative
Office : |
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|
E-Mail: |
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|
Marketing
Office : |
D – 708, Crysral Plaza, Office New Link Road, Opposite Infinitti Mall, Andheri (w), Mumbai – 400053, Maharashtra, India |
|
Tel. No.: |
91-22-32060171 |
|
Fax No.: |
91-22-26736793 |
DIRECTORS
As on: 31.03.2012
|
Name : |
Mr. Sanjiv Goyal |
|
Designation : |
Chairman and Managing Director |
|
|
|
|
Name : |
Mr. Aryan Goyal |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Mr. Saurabh Goyal
|
|
Designation : |
Executive
Director |
|
|
|
|
Name : |
Mr. Vivek Seth |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Vijay J Shah |
|
Designation : |
Independent Director |
|
|
|
|
Name : |
Mr. Basant Kumar
Goswami |
|
Designation : |
Independent
Director |
|
|
|
|
Name : |
Dr. (Maj. Gen.) S. S. Chauhan, VSM |
|
Designation : |
Independent Director |
|
|
|
|
Name : |
Mr. Raman Kapur |
|
Designation : |
Independent Director |
|
|
|
|
Name : |
Mr. Ajay Swaroop |
|
Designation : |
Independent Director |
KEY EXECUTIVES
|
Name : |
Mr. Sandeep Goel |
|
Designation : |
Vice President
(Finance) |
|
|
|
|
Name : |
Mr. R. K.
Aggarwal |
|
Designation : |
Vice President
(Accounts) |
|
|
|
|
Name : |
Mr. Sunder Lal |
|
Designation : |
Vice President
and Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 31.03.2013
|
Category
of Shareholders |
No. of Shares |
Percentage of Holding |
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
(1) Indian |
|
|
|
|
99468000 |
55.80 |
|
|
99468000 |
55.80 |
|
|
|
|
|
Total shareholding
of Promoter and Promoter Group (A) |
99468000 |
55.80 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
4431505 |
2.49 |
|
|
2333721 |
1.31 |
|
|
26000000 |
14.59 |
|
|
26000000 |
14.59 |
|
|
32765226 |
18.38 |
|
|
|
|
|
|
19591356 |
10.99 |
|
|
|
|
|
|
20076415 |
11.26 |
|
|
4034170 |
2.26 |
|
|
2325803 |
1.30 |
|
|
2183354 |
1.22 |
|
|
105374 |
0.06 |
|
|
37075 |
0.02 |
|
|
46027744 |
25.82 |
|
Total Public
shareholding (B) |
78792970 |
44.20 |
|
Total (A)+(B) |
178260970 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
46000000 |
0.00 |
|
|
46000000 |
0.00 |
|
Total (A)+(B)+(C) |
224260970 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Medicines like Ampicillin, Trihydrate, S. Sterilite, Amoxycillin. |
PRODUCTION STATUS (As on: 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Bulk Drug and Sterile |
MTS |
1800.00 |
1086.82 |
|
Job Work Executed |
MTS |
-- |
18.78 |
|
Phytochemicals – Menthol |
MTS |
7600.00 |
1958.80 |
|
EH Gelatin Capsules |
Nos
|
2880.00 |
2970.33* |
|
Formulations |
Nos
|
345.00 |
115.00 |
*
Actual Production exceeds installed capacity due to change in product mix.
Note:
(i) In
terms of press note no. 4 (1994 series) dated October 25, 1994 issued by the
department of Industrial Development, Ministry of Industry, Government of
India, Industrial licensing has been abolished in respect of bulk drugs and
formulations.
(ii) Installed Capacities are as certified by Management
and have not been verified by the auditors being a technical matter.
GENERAL INFORMATION
|
No. of Employees : |
1700 (Approximately) |
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|
Bankers : |
·
Punjab National Bank, Sector 16D, Chandigarh,
India ·
State Bank of India, Specialised Commercial
Branch, Sector 17B, Chandigarh, India ·
Vijaya Bank, Barakhamba Road, New Delhi, India ·
Exim Bank, Mumbai, Maharashtra, India ·
HSBC Bank Limited, Barakhamba Road, New Delhi,
India |
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Facilities : |
(Rs.
In Millions)
Notes: I. Term Loans from various banks are secured by way of First Pari Passu Charge on all the fixed assets of the Company and further secured by way of Second Pari Passu Charge on all the current assets of the Company and personal guarantee of directors namely Sanjiv Goyal and Aryan Goyal. Repayment Schedule
of Term Loans
Other Loans comprise of Vehicle Loans which are secured against hypothecation of respective vehicles. Repayment Schedule
of Vehicle Loans
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Datta Singla and Company Chartered Accountants |
|
Address : |
SCO 2935-36, 1st Floor, Sector 22-C, Chandigarh, India |
|
|
|
|
Entities over which
key management personnel/their relatives are able to exercise significant
influence : |
· Surya Narrow Fabrics · Nectar Lifestyle Limited · Nectar Organics Limited |
|
|
|
|
Subsidiary
Companies : |
· Chempharma Private Limited · Nectar Capital Limited · Nectar Lifesciences UK Limited |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
350000000 |
Equity Shares |
Rs.1/- each |
Rs.350.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
224260970 |
Equity Shares |
Rs.1/- each |
Rs.224.260 Millions |
|
|
|
|
|
DETAIL OF
SHAREHOLDERS HOLDING MORE THAN 5 % SHARES
|
Particulars |
As at 31st March,2012 |
|
|
Number of shares
held |
Percentage of
shares held |
|
|
Mr. Sanjiv Goyal |
76779000 |
34.24 |
|
NSR Direct PE Mauritius,LLC |
26000000 |
11.59 |
|
Mrs. Raman Goyal |
21584000 |
9.62 |
|
Depository of GDRs |
46000000 |
20.51 |
Note:
Since, the equity shares underlying GDRs held by Deutsche Bank Trust Company Americas being depository of GDRs, hence disclosed per se.
Reconciliation of the
number of shares outstanding:
|
Particulars |
As at 31st March, 2012 |
|
Equity shares at the beginning of the year |
224260970 |
|
Add: Shares issued during the year |
Nil |
|
Equity shares at the end of the year |
224260970 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
224.260 |
224.260 |
|
(b) Reserves & Surplus |
|
7621.200 |
6987.570 |
|
(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) |
|
7845.460 |
7211.830 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
3636.170 |
2343.420 |
|
(b) Deferred tax liabilities (Net) |
|
630.220 |
508.060 |
|
(c) Other long term liabilities |
|
19.570 |
11.080 |
|
(d) long-term provisions |
|
34.270 |
24.100 |
|
Total Non-current
Liabilities (3) |
|
4320.230 |
2886.660 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
|
5652.110 |
3300.100 |
|
(b) Trade payables |
|
1944.910 |
1398.210 |
|
(c) Other current liabilities |
|
1298.430 |
2459.230 |
|
(d) Short-term provisions |
|
148.140 |
870.170 |
|
Total Current
Liabilities (4) |
|
9043.590 |
8027.710 |
|
|
|
|
|
|
TOTAL |
|
21209.280 |
18126.200 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
8578.710 |
7362.590 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
|
1501.340 |
824.170 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.500 |
0.500 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
631.850 |
498.690 |
|
(e) Other Non-current assets |
|
0.230 |
0.300 |
|
Total Non-Current
Assets |
|
10712.630 |
8686.250 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
1.410 |
53.320 |
|
(b) Inventories |
|
5914.160 |
4708.850 |
|
(c) Trade receivables |
|
3044.930 |
3111.280 |
|
(d) Cash and cash equivalents |
|
259.250 |
325.750 |
|
(e) Short-term loans and advances |
|
1050.420 |
1020.290 |
|
(f) Other current assets |
|
226.480 |
220.460 |
|
Total Current
Assets |
|
10496.650 |
9439.950 |
|
|
|
|
|
|
TOTAL |
|
21209.280 |
18126.200 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
224.260 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
5985.520 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
6209.780 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
4510.150 |
|
|
2] Unsecured Loans |
|
|
1498.780 |
|
|
TOTAL BORROWING |
|
|
6008.930 |
|
|
DEFERRED TAX LIABILITIES |
|
|
501.860 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
12720.570 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
6272.600 |
|
|
Capital work-in-progress |
|
|
555.130 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
256.930 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
3963.540
|
|
|
Sundry Debtors |
|
|
2224.550
|
|
|
Cash & Bank Balances |
|
|
305.170
|
|
|
Other Current Assets |
|
|
264.660
|
|
|
Loans & Advances |
|
|
964.400
|
|
Total
Current Assets |
|
|
7722.320 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
1345.160 |
|
|
Other Current Liabilities |
|
|
91.980
|
|
|
Provisions |
|
|
649.630
|
|
Total
Current Liabilities |
|
|
2086.770 |
|
|
Net Current Assets |
|
|
5635.550
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.360 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
12720.570 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
13032.880 |
10554.480 |
8457.990 |
|
|
|
Operating Income |
98.180 |
66.140 |
|
|
|
|
Other Income |
128.940 |
134.570 |
|
|
|
|
TOTAL (A) |
13260.000 |
10755.190 |
8647.520 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
9906.050 |
7103.980 |
|
|
|
|
Purchase of Stock in Trade (Traded Goods) |
630.270 |
829.970 |
|
|
|
|
Changes in inventories of Finished Goods, Stock-in-Process and Stock in Trade |
(1346.690) |
(823.240) |
|
|
|
|
Employee Benefits Expense |
476.590 |
371.680 |
|
|
|
|
Other Expenses |
1101.880 |
869.360 |
|
|
|
|
TOTAL (B) |
10768.100 |
8351.750 |
6507.600 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2491.900 |
2403.440 |
2139.920 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1029.950 |
740.840 |
602.840 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1461.950 |
1662.600 |
1537.080 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
607.290 |
461.030 |
387.460 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
854.660 |
1201.570 |
1149.620 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
122.160 |
162.380 |
229.880 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
732.500 |
1039.190 |
919.740 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
-- |
-- |
2345.440 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Final Dividend |
22.430 |
22.430 |
0.000 |
|
|
|
Tax on Dividend |
3.640 |
3.640 |
0.000 |
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
100.000 |
|
|
|
Interim Dividend |
0.000 |
0.000 |
38.070 |
|
|
|
Tax on Interim Dividend |
0.000 |
0.000 |
6.470 |
|
|
BALANCE CARRIED
TO THE B/S |
706.430 |
1013.120 |
3120.640 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
6548.390 |
3678.400 |
3245.180 |
|
|
TOTAL EARNINGS |
6548.390 |
3678.400 |
3245.180 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2735.720 |
4738.950 |
3187.140 |
|
|
|
Capital Goods, Stores & Spares |
34.620 |
58.210 |
43.990 |
|
|
TOTAL IMPORTS |
2770.340 |
4797.160 |
3231.130 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.27 |
4.63 |
5.81 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2012 1st
Quarter |
30.09.2012 2nd
Quarter |
31.12.2012 3rd
Quarter |
31.03.2013 4th
Quarter |
|
|
UnAudited |
UnAudited |
UnAudited |
UnAudited |
|
Net Sales |
3941.700 |
4952.700 |
3690.700 |
3677.400 |
|
Total Expenditure |
3337.900 |
4242.800 |
2971.200 |
2809.900 |
|
PBIDT (Excl OI) |
603.800 |
709.900 |
719.500 |
867.600 |
|
Other Income |
41.200 |
41.300 |
41.300 |
36.700 |
|
Operating Profit |
645.000 |
751.200 |
760.800 |
904.200 |
|
Interest |
249.300 |
276.800 |
281.700 |
347.100 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
PBDT |
395.700 |
474.400 |
479.100 |
557.100 |
|
Depreciation |
179.300 |
192.000 |
192.200 |
196.100 |
|
Profit Before Tax |
216.500 |
282.500 |
286.800 |
361.000 |
|
Tax |
56.200 |
57.000 |
72.400 |
104.600 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
160.300 |
225.500 |
214.500 |
256.400 |
|
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 |
160.300 |
225.500 |
214.500 |
256.400 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
5.52 |
9.66 |
10.63
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.56 |
11.38 |
13.59
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.34 |
6.94 |
8.21
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
0.17 |
0.18
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.18 |
0.78 |
0.97
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.16 |
1.18 |
3.70
|
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
No |
|
8] |
No. of employees |
-- |
|
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 |
No |
|
32] |
PAN of Proprietor/Partner/Director, if available |
-- |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10422304 |
26/04/2013 * |
1,300,116,000.00 |
State Bank of India |
Specialised Commercial Branch, SCO 103-106, sector 17-B, Chandigarh, Chandigarh - 160017, India |
B73948606 |
|
2 |
10342507 |
06/03/2012 |
3,000,000.00 |
Government of Himachal Pradesh Through Director of Industries |
Dy. Director Of Industries, SWCA, Baddi, Solan, Himachal Pradesh - 173205, India |
B35141779 |
|
3 |
10333669 |
07/05/2013 * |
5,364,000,000.00 |
Punjab National Bank |
Sector 16 Branch, Chandigarh, Chandigarh - 160016, India |
B76154293 |
|
4 |
10313435 |
06/09/2011 |
1,000,000,000.00 |
Vijaya Bank |
17, Barakhamba Road, New Delhi, Delhi - 110001, India |
B23630312 |
|
5 |
10295257 |
22/05/2012 * |
600,000,000.00 |
Export-Import Bank of India |
Centre One, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India |
B41993924 |
|
6 |
10280455 |
22/05/2012 * |
400,000,000.00 |
Export-Import Bank of India |
Centre One, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India |
B41989898 |
|
7 |
10280456 |
21/04/2011 |
500,000,000.00 |
Export-Import Bank of India |
Centre One Building, Floor 21, World Trade Centre |
B10753598 |
|
8 |
10285034 |
02/04/2011 |
500,000,000.00 |
Punjab National Bank |
Sector 16 Branch, Chandigarh, Chandigarh - 160016, India |
B12419677 |
|
9 |
10263770 |
18/07/2011 * |
2,000,000,000.00 |
State Bank of India |
Specialised Commercial Branch, Sco 103-106, Sector 17-B, Chandigarh, Chandigarh - 160017, India |
B17163908 |
|
10 |
10264298 |
05/01/2011 |
3,000,000.00 |
Government of Himachal Pradesh Through Director of |
Dy. Director Of Industries, SWCA, Baddi, Solan, Himachal Pradesh - 173205, India |
B05379540 |
|
11 |
10190663 |
17/04/2010 * |
500,000,000.00 |
State Bank of India |
Specialised Commercial Branch, SCO 103-106, Sector 17-B, Chandigarh, Chandigarh - 160017, India |
A85660975 |
|
12 |
10190316 |
17/04/2010 * |
500,000,000.00 |
Punjab National Bank |
Sector 16 Branch, Chandigarh, Chandigarh - 160016, India |
A85587582 |
|
13 |
10182900 |
22/05/2012 * |
600,000,000.00 |
Export-Import Bank of India |
Centre One, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India |
B41992686 |
|
14 |
10168095 |
17/04/2010 * |
50,000,000.00 |
State Bank of India |
Specialised Commercial Branch, SCO 103-106, Sector 17-B, Chandigarh, Chandigarh - 160017, India |
A85664472 |
|
15 |
10168038 |
17/04/2010 * |
147,000,000.00 |
State Bank of India |
Specialised Commercial Branch, SCO 103-106, Sector 17-B, Chandigarh, Chandigarh - 160017, India |
A85663664 |
|
16 |
10168093 |
17/04/2010 * |
500,000,000.00 |
State Bank of India |
Specialised Commercial Branch, SCO 103-106, Sector 17-B, Chandigarh, Chandigarh - 160017, India |
A85662153 |
|
17 |
10135497 |
18/06/2009 * |
962,000,000.00 |
HSBC Bank PLC |
South Asian Banking Level 37, 8, Canada Square, L |
A64527427 |
|
18 |
10135496 |
23/12/2008 |
962,000,000.00 |
HSBC Bank PLC |
South Asian Banking Level 37, 8, Canada Square, L |
A53738720 |
|
19 |
10102348 |
01/07/2009 * |
500,000,000.00 |
State Bank of India |
Specialised Commercial Branch, SCO 103-106, Sector 17-B, Chandigarh, Chandigarh - 160017, India |
A68157007 |
|
20 |
10049767 |
18/06/2009 * |
367,500,000.00 |
Vijaya Bank |
17, Barakhamba Road, New Delhi, Delhi - 110001, India |
A65914632 |
|
21 |
90309737 |
18/06/2009 * |
500,000,000.00 |
Vijaya Bank |
17, Barakhamba Road, New Delhi, Delhi - 110001, India |
A65914178 |
|
22 |
90169495 |
23/03/2012 * |
9,920,800,000.00 |
Punjab National Bank (Lead Bank) |
Sector 16 Branch, Chandigarh - 160016, India |
B39065974 |
|
23 |
90170960 |
04/04/2000 * |
150,000,000.00 |
Punjab National Bank |
Sector 16, Chandigarh, India |
- |
|
24 |
90174984 |
31/03/1999 * |
110,000,000.00 |
Punjab National Bank |
Sector-16, Chandigarh, India |
- |
|
25 |
90170826 |
09/06/2003 * |
192,000,000.00 |
Punjab National Bank |
Sector 16, Chandigarh, India |
- |
|
26 |
90170808 |
04/04/2000 * |
10,000,000.00 |
Punjab National Bank |
Sector 16, Chandigarh, India |
- |
|
27 |
90309101 |
21/04/1999 * |
42,000,000.00 |
Punjab National Bank |
Sector-16, Chandigarh, India |
- |
Notes: * Date of charge modification
UNSECURED LOAN
(Rs. In Millions)
|
Particular |
As on 31.03.2012 |
As on 31.03.2011 |
|
LONG TERM
BORROWINGS |
|
|
|
Other Loans |
|
|
|
From Banks |
3.990 |
3.100 |
|
From Others |
2.880 |
4.290 |
|
SHORT TERM
BORROWINGS |
|
|
|
Short Term Loans |
|
|
|
From Banks |
200.000 |
0.000 |
|
|
|
|
|
Total |
206.870 |
7.390 |
OPERATIONS
During the Year:
Sales and other income are up by 20.13%. Profit before interest and depreciation is up by 3.68%. Profit after tax has decreased due to high interest cost.
MANAGEMENT DISCUSSION
AND ANALYSIS
GLOBAL PHARMA
Spending on medicines which was estimated at $856 billion in 2010, is expected to reach nearly $1,100 billion in 2015, reflecting a growth rate of three-six per cent over the five year period. This growth will be driven by following factors:
Patent expiries: Share of patented brands which accounted for nearly 70 per cent of global pharmaceutical spending in 2010 are expected to decline to 53 per cent in 2015, on account of patent expiries, mainly in the developed markets.
New wave of drug budget controls among brands in developed markets: Governments are pursuing an ongoing wave of budgetary control mechanisms that target drug spending as one way to restore fiscal balance. Multiple markets will be impacted by these measures in coming years.
Rapid shift towards Pharmerging markets: A distinct shift is also expected in the market shares across the globe, with the US share of global spending estimated to be declining from 41 per cent in 2005 to 31 per cent in 2015, along with the share of spending from Europe estimated to be declining from 27 per cent to 19 per cent over the same period. Meanwhile, 17 high growth emerging markets (pharmerging) including China, India, Brazil, Russia and Mexico estimated to contribute 28 per cent of total spending by 2015, up from only 12 per cent in 2005.
Innovative products: In 2011, the introduction and uptake of new drugs are poised to provide new treatment options and significantly alter treatment paradigms in several key therapy areas. These include innovative treatment options for stroke prevention, melanoma, multiple sclerosis, breast cancer and hepatitis C. As these new drugs are brought to market, patient access is expected to expand and funding redirected from other areas where lower-cost generics are available.
INDIAN PHARMA AND
HEALTHCARE
India's pharmaceutical industry is now the third largest in the world in terms of volume and stands 14th in terms of value. According to the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, the total turnover of India's pharmaceuticals industry between September 2008 and September 2009 was US$ 21.04 billion. Of this the domestic market was worth US$ 12.26 billion.
The Indian pharmaceuticals market was estimated at about US$ 24.8 billion in 2010 and is expected to reach US$ 55 billion in 2020. The market has the further potential to reach US$ 70 billion by 2020 in an aggressive growth scenario. India has benefited from a rising middle-class population, improvements in medical infrastructure and the establishment of intellectual property rights.
According to IMS Health, the top five therapy classes of Indian Pharmaceutical market are:
· Angioten-II Antag
· Human insulin and analogs
· Cephalosporins
· Anti-ulcerants
· Oral antidiabetics
Generics
The global generics market is estimated at about $ 225 billion in 2011. By 2016, it is expected that the value of the total global generics sector will have risen to $ 358billion, representing more than 18% of all pharmaceuticals, a projected compound annual growth rate (CAGR) of 9.7% between 2011 and 2016. The North American market is estimated to reach nearly $ 73 billon in 2011 and is expected to increase at a 7.9% compound annual growth rate to reach nearly $107 billion in 2016. Emerging market represents the second largest market category for generic drugs with the expected sale of $ 57 billion in 2011. This should reach nearly $ 115 billion in 2016 for a CAGR of 15.1% India tops the world in exporting generic medicines worth US$ 11 billion and currently, the India pharmaceutical industry in one of the world's largest and most developed. Moreover, the Indian generic drug market to grow at a CAGR of around 17 per cent between 2010-11 and 2012-13
India's strong
competitive advantage
Indian pharma sector has emerged as a key destination for global pharma companies due to its high growth prospects and conducive regulatory environment. Big Pharma companies are passing through a phase of declining growth rates in developed markets. They also have fewer new products in the pipeline. To counter these pressures on revenues and products, and also to reorient their business models towards investing more in R and D, outsourcing is happening in a big way. Indian companies are cost effective and reliable suppliers to global companies. Other factors contributing to growth of Indian pharma are:
· Increasing per capita income
· Increasing investments by big MNCs
· Lifestyle related disorders
· Government initiatives
The Union government is in the process of setting up a 20-billion-rupee venture capital fund to support drug discovery. The Government of India's expenditure on Healthcare has increased over the last four years and it plans to cover 45% of population by 2020.
OPPURTUNITIES AND
OUTLOOK
The company expects a positive outlook for the next year. NLL is expecting to continue its strategic entry in US market with a number of ANDA filings for its Cephalosporins range during 2012-13.
The U.S. is the single largest generics market, estimated at US$ 30 billion (about 34% of global generic market), regardless of the intense competition and pricing pressure.
NLL intends to make a strategic entry into EU countries like France, Germany, UK, Italy, Spain, Poland and Hungary during 2012-13. Europe forms the world's 2nd largest generic market, estimated at about US$ 25.5 billion backed by Govt reforms to curb healthcare cost and increased demand from ageing population.
Japanese generic market was valued at about US$ 7.4 billion in 2010. With a view to reducing burgeoning healthcare costs and tackling rising cases of life-threatening diseases, the Japanese government is taking various measures to increase the adoption of generic drugs among people in the country. The Japanese generic drugs market, evolving to become the world's next generic hub, offers a wide range of opportunities to both domestic and international players. The patent expiry of a large number of branded drugs and active pharmaceutical ingredients are the major attractions for companies willing to enter the market. It is one of the most lucrative destinations for pharma player mainly because of the rapidly ageing population and increasing incidence of western lifestyle diseases. NLL expects future value growth from this market for Cephalosporin products along with other regulated markets such as US and EU.
NLL also expects continued momentum from its domestic and export markets. Next few years will see NLLs ability to discover new markets and new opportunities gaining an invaluable advantage over competitors.
CONTINGENT
LIABILITIES
(Rs. In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
|
Claims not acknowledged as debts:- ** -Income Tax matters -Excise matters -Service Tax matters |
5.970 4.160 13.350 |
26.590 -- -- |
|
Bank Guarantees |
26.840 |
4.500 |
|
Bills Discounted |
583.780 |
39.950 |
|
Letter of Credit (Foreign / Inland) |
560.000 |
482.400 |
|
Other money for which Company is contingently liable a) Differential amount of custom duty in respect of machinery imported under EPCG Scheme |
1.800 |
38.080 |
Note:
** The matters are subject to legal proceedings in the ordinary course of business. The legal proceedings, when ultimately concluded will not, in the opinion of management, have a material effect on the results of operation or financial position of the company.
FIXED ASSETS:
· Freehold Land and Site Development
· Leasehold Land
· Buildings
· Tube Well
· Plant and Machinery
· Plant and Machinery (R and D)
· Boiler
· Pollution Control Equipment
· Laboratory
· Miscellaneous Fixed Assets
· Furniture and Fixture
· Motor Vehicles
· Computer
FINANCIAL RESULTS FOR
THE QUARTER AND THE YEAR ENDED 31.03.2013
(Rs. In Millions)
|
S. No |
PARTICULARS |
Quarter ended |
Quarter ended |
Year ended |
|
31.03.2013 |
31.12.2012 |
31.03.2013 |
||
|
Audited |
Unaudited |
Audited |
||
|
(Stand-alone) |
(Stand-alone) |
(Stand-alone) |
||
|
1. |
Income from
Operations |
|
|
|
|
|
(a) Gross Sales |
3823.334 |
3809.564 |
16732.471 |
|
|
Less : Excise Duty |
146.948 |
120.710 |
484.328 |
|
|
Net Sales |
3676.386 |
3688.854 |
16248.143 |
|
|
(b) Other Operating Income |
1.020 |
1.885 |
14.367 |
|
|
Total Income from
Operations (net) |
3677.406 |
3690.739 |
16262.510 |
|
2. |
Expenses |
|
|
|
|
|
(a) Cost of Materials consumed |
2332.359 |
3012.156 |
11465.224 |
|
|
(b) Purchase of Stock in Trade |
66.398 |
84.534 |
599.980 |
|
|
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(154.800) |
(604.124) |
(644.021) |
|
|
(d) Employee benefits expense |
149.892 |
113.720 |
486.111 |
|
|
(e) Depreciation and amortisation expense |
196.103 |
192.239 |
759.561 |
|
|
(f) Other expenses |
415.999 |
364.936 |
1454.415 |
|
|
Total Expenses |
3005.951 |
3163.461 |
14121.270 |
|
3. |
Profit from
Operations before Other Income, finance costs and exceptional Items (1 -2) |
671.455 |
527.278 |
2141.240 |
|
4. |
Other Income |
36.661 |
41.272 |
160.403 |
|
5. |
Profit before
finance costs and exceptional Items (3+4) |
708.116 |
568.550 |
2301.643 |
|
6. |
Finance costs |
347.084 |
281.741 |
1154.893 |
|
7. |
Profit after
finance costs but before exceptional Items (5-6) |
361.032 |
286.809 |
1146.750 |
|
8. |
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
9. |
Profit from ordinary
activities before tax (7+8) |
361.032 |
286.809 |
1146.750 |
|
10. |
Tax Expense |
104.611 |
72.346 |
290.095 |
|
11. |
Net Profit from
ordinary activities after tax (9-10) |
256.421 |
214.463 |
856.655 |
|
12. |
Extraordinary Item (net of tax expense) |
0.000 |
0.000 |
0.000 |
|
13. |
Net Profit for the
period (11-12) |
256.421 |
214.463 |
856.655 |
|
14. |
Paid up Equity Share Capital (Face Value per share : Re.1/-) |
224.261 |
224.261 |
224.261 |
|
15. |
Reserves excluding Revaluation Reserves |
|
|
8451.796 |
|
16.i |
Earnings per Share
(EPS) (before extraordinary items) |
|
|
|
|
|
a) Basic |
1.14 |
0.96 |
3.82 |
|
|
b) Diluted |
1.14 |
0.96 |
3.82 |
|
16.ii |
Earnings per Share (EPS)
(after extraordinary items) |
|
|
|
|
|
a) Basic |
1.14 |
0.96 |
3.82 |
|
|
b) Diluted |
1.14 |
0.96 |
3.82 |
SELECT INFORMATION
FOR THE QUARTER AND YEAR ENDED 31.03.2013
|
A |
Particulars of
shareholding |
|
|
|
|
1. |
Public Shareholding |
|
|
|
|
|
- Number of Shares |
124792970 |
124792970 |
124792970 |
|
|
- Percentage of Shareholding |
55.65 |
55.65 |
55.65 |
|
2. |
Promoters and
Promoter Group Shareholding |
|
|
|
|
|
a)
Pledged/Encumbered |
|
|
|
|
|
- Number of Shares |
0 |
0 |
0 |
|
|
- Percentage of Shares ( as a % of the total shareholding of promoter and promoter group) |
0.00 |
0.00 |
0.00 |
|
|
- Percentage of Shares ( as a % of the total share capital of the company |
0.00 |
0.00 |
0.00 |
|
|
b) Non-encumbered |
|
|
|
|
|
- Number of Shares |
99468000 |
99468000 |
99468000 |
|
|
- Percentage of Shares ( as a % of the total shareholding of promoter and promoter group) |
100.00 |
100.00 |
100.00 |
|
|
- Percentage of Shares ( as a % of the total share capital of the company |
44.35 |
44.35 |
44.35 |
|
B |
Investor Complaints |
3 Months ended 31.03.2013 |
|
|
Pending at the beginning of Quarter |
0 |
|
|
Received During the Quarter |
12 |
|
|
Disposed Off During the Quarter |
12 |
|
|
Pending at the end of Quarter |
0 |
STATEMENT OF ASSETS
AND LIABILITIES
(Rs. In Millions)
|
PARTICULARS |
As at 31.03.2013 |
|
Audited |
|
|
(Stand-alone) |
|
|
SHAREHOLDERS' FUND |
|
|
(i) Capital |
224.261 |
|
(ii) Reserves and Surplus |
8451.796 |
|
NON CURRENT
LIABILITIES |
|
|
(i) Long Term Liabilities |
2609.608 |
|
(ii) Deffered Tax Liability |
957.563 |
|
(ii) Other Long Term Liabilities |
10.299 |
|
(iii) Long Term Provisions |
37.888 |
|
CURRENT LIABILITIES |
|
|
(i) Short Term Borrowings |
5091.114 |
|
(ii) Trade Payables |
3825.185 |
|
(iii) Other Current Liabilities |
1312.761 |
|
(iv) Short Term Provisions |
219.956 |
|
|
22740.431 |
|
NON CURRENT ASSETS |
|
|
(i) Fixed Assets (Incl CWIP) |
10524.084 |
|
(ii) Non Current Investments |
0.501 |
|
(iii) Long Term Loans & Advances |
704.861 |
|
(iv) Other Non Current Assets |
0.150 |
|
CURRENT ASSETS |
|
|
(i) Current Investments |
3.192 |
|
(ii) Inventories |
6760.004 |
|
(iii) Trade Receivables |
3493.864 |
|
(iv) Cash & Bank Balances |
62.404 |
|
(v) Short Term Loans & Advances |
868.433 |
|
(vi) Other Current Assets |
322.938 |
|
|
22740.431 |
Notes:
1. The above financial results were reviewed by Audit Committee on 14.05.2013 and approved by the Board in its meeting held on 15.05.2013 and further Audited by the Statutory
2. The company is exclusively in the pharmaceutical business segment.
3. The Board of Directors has recommended the Final Dividend of Re. 0.10/- per equity share (10% on the face value of Re. 1/- per equity share) for the financial year 2012-13.
4. Previous year figures have been regrouped and reclassified wherever necessary to make them comparable with current period.
5. The figures of last quarter are the balancing figures between audited figures in respect of the full Financial year and published year to date figures upto third quarter of current financial
AS PER WEBSITE
DETAILS
Press Release
CELLCAP INVOFIN SELLS
12 LAKH SHARES OF NECTAR LIFESCIENCES
March 23, 2013, 11.15
AM IST
On March 22, 2013 Cellcap Invofin India Private Limited sold 1200000 shares of Nectar Lifesciences at Rs 16 on the BSE. However, Yash Shares and Stock Private Limited bought 1573732 shares at Rs 16.
On Friday, Nectar Lifesciences closed at Rs 15.60, down Rs 0.15, or 0.95%. It has touched an intraday high of Rs 16.25 and an intraday low of Rs 15.25.
The share touched its 52-week high Rs 25.95 and 52-week low Rs 15.05 on 23 April, 2012 and 12 March, 2013, respectively. Currently, it is trading 39.88% below its 52-week high and 3.65% above its 52-week low. Market capitalisation stands at Rs 3498.500 Millions.
The company's trailing 12-month (TTM) EPS was at Rs 4.54 per share. (Dec, 2012). The stock's price-to-earnings (P/E) ratio was 3.44. The latest book value of the company is Rs 34.98 per share. At current value, the price-to-book value of the company was 0.45. The dividend yield of the company was 0.64%.
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.58.91 |
|
|
1 |
Rs.90.68 |
|
Euro |
1 |
Rs.78.22 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.