MIRA
INFORM REPORT
|
Report Date : |
21.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
CALYX CHEMICALS AND PHARMACEUTICALS LIMITED (w.e.f. 08.09.2006) |
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|
|
|
Formerly Known
as : |
CALYX CHEMICALS AND PHARMACEUTICALS PRIVATE LIMITED |
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Registered
Office : |
Unit No.110,
Marwah’s Complex, Krishanlal Marwah Estate, Off. |
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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 |
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Com. Reg. No.: |
11-038618 |
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Capital
Investment / Paid-up Capital : |
Rs.160.489 Millions |
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CIN No.: [Company Identification
No.] |
U24220MH1986PLC038618 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC07976D |
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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. |
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|
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 |
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Maximum Credit Limit : |
USD 7264000 |
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Status : |
Satisfactory |
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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.
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 DECLINED BY
|
Name : |
Mr. Alpit Bhagalia |
|
Designation : |
Finance Department |
|
Contact No.: |
91-22-28571191/ 82 |
|
Date : |
21.06.2013 |
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 |
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Fax No.: |
91-22-66466401 |
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E-Mail : |
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Website : |
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Corporate Office : |
A-37/38, MIDC, Phase 1, Golavli, |
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Tel. No.: |
91-251-2438310/ 6698300 |
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Fax No.: |
91-251-2438726 |
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|
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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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Representative
Office : |
Calyx International Division (USA) |
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Tel. No.: |
+1-213-291-7773 |
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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 |
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Tel. No.: |
+61-6296 4041 |
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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 |
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Name : |
Mr. Bharat Sukhlal Mehta |
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Designation : |
Director |
|
Address : |
21, Nibbana Pali Hill, Bandra (West), Mumbai – 400 050, Maharashtra,
India |
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Date of Birth/Age : |
05.01.1938 |
|
Date of Appointment : |
01.04.1995 |
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DIN No.: |
00038165 |
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|
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Name : |
Mr. Rajat Indulal Doshi |
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Designation : |
Director |
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Address : |
1 E, Dil Pazir, Bhulabhai Desai Road, Cumballa, Gamdevi, Mumbai – 400
026, Maharashtra, India |
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Date of Birth/Age : |
13.10.1958 |
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Date of Appointment : |
23.04.2009 |
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DIN No.: |
02423171 |
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Name : |
Mr. Jambunathan Sirnivasa Iyer |
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Designation : |
Director |
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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 |
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DIN No.: |
00063729 |
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Name : |
Mr. Abhay Prafulchandra Desai |
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Designation : |
Director |
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Address : |
Flat No.502, Glen Classic Apartments, Hiranandani Gardens, Powai,
Mumbai – 400 076, Maharashtra, India |
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Date of Birth/Age : |
27.06.1962 |
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Date of Appointment : |
23.03.2010 |
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DIN No.: |
03016913 |
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Name : |
Chakradhar Bharat Chhaya |
|
Designation : |
Director |
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Address : |
204, Gokul Sangeet, 2nd Floor, 22, Linking Road, Extension Santacruz
(West), Mumbai – 400 054, Maharashtra, India |
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Date of Birth/Age : |
09.11.1943 |
|
Date of Appointment : |
23.03.2010 |
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DIN No.: |
00968966 |
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Name : |
Ms. Bhumitra Vinodchandra Dholakia |
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Designation : |
Director |
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Address : |
B-46/431, MIG Colony, Gandhi Nagar, Bandra (East), Mumbai – 400 051,
Maharashtra, India |
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Date of Birth/Age : |
03.09.1949 |
|
Date of Appointment : |
23.03.2010 |
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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 |
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PAN No.: |
AHRPM7047F |
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|
|
|
Name : |
Mr.
Deepak Maroo |
|
Designation : |
Chief Financial Officer |
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|
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 : |
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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 Bikaner and Jaipur, Commercial
Network Branch, 239, P Demello Road, Opposite GPO, Fort, Mumbai – 400 001, Maharashtra,
India
·
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 &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. |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Jatin V. Shah Chartered Accountant |
|
Address : |
261/263, D N Road, 4th Floor, Mumbai – 400 001,
Maharashtra, India |
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Tel. No.: |
91-22-32948140 |
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Fax No.: |
91-22-22610775 |
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PAN No..: |
AVVPS9231R |
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Subsidiaries : |
Singind Life Sciences Pte. Limited |
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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
M/s 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 |
|
|
|
|
|
|
(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 |
|
|
|
|
|
|
(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 |
|
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 |
|
|
|
|
|
|
(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 |
|
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
Details of Sundry Creditors:
|
Particulars |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Sundry Creditors |
1761.960 |
646.052 |
913.307
|
|
Check
List by Info Agents |
Available
in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
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 |
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
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 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 tansactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.70 |
|
|
1 |
Rs.92.22 |
|
Euro |
1 |
Rs.79.19 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
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.