MIRA
INFORM REPORT
|
Report Date : |
05.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
FERMENTA BIOTECH LIMITED (w.e.f. 10.05.2000) |
|
|
|
|
Formerly Known
As : |
FERMENTAPHARMA BIODIL LIMITED |
|
|
|
|
Registered
Office : |
C/O Duphar-Interfran Limited
Complex, Opposite Vidyapeeth, S.V. Road, Ghodbunder Road, Majiwada, Thane
(West) - 400610, Maharashtra |
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|
|
|
Country : |
India |
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|
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|
Financials (as
on) : |
31.03.2012 |
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|
|
|
Date of
Incorporation : |
11.07.1986 |
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|
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Com. Reg. No.: |
11-134021 |
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Capital
Investment / Paid-up Capital : |
Rs. 181.928 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1986PLC134021 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF2503N |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
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Line of Business
: |
Manufacturing and Marketing of Chemicals, Bulk Drugs and Enzymes. |
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|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2790000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of ‘DIL Limited’ a listed company. It is a
well-established company having satisfactory track record. The company is found to be performing well. The profitability of the
company appears to be good. Trade relations are reported to be decent. Business is active. Payment
terms are usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including industrial
deregulation, privatization of state-owned enterprises, and reduced controls on
foreign trade and investment, began in the early 1990s and has served to
accelerate the country's growth, which has averaged more than 7% per year since
1997. India's diverse economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries, and a multitude of
services. Slightly more than half of the work force is in agriculture, but
services are the major source of economic growth, accounting for more than half
of India's output, with only one-third of its labor force. India has
capitalized on its large educated English-speaking population to become a major
exporter of information technology services and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis - in large
part because of strong domestic demand - and growth exceeded 8% year-on-year in
real terms. However, India's economic growth in 2011 slowed because of persistently
high inflation and interest rates and little progress on economic reforms. High
international crude prices have exacerbated the government's fuel subsidy
expenditures contributing to a higher fiscal deficit, and a worsening current
account deficit. Little economic reform took place in 2011 largely due to
corruption scandals that have slowed legislative work. India's medium-term
growth outlook is positive due to a young population and corresponding low
dependency ratio, healthy savings and investment rates, and increasing
integration into the global economy. India has many long-term challenges that
it has not yet fully addressed, including widespread poverty, inadequate
physical and social infrastructure, limited non-agricultural employment
opportunities, scarce access to quality basic and higher education, and
accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB (Long term rating) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
05.02.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A3+ (Short term rating) |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
05.02.2013 |
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.
LOCATIONS
|
Registered
Office/ Administrative : |
C/O Duphar-Interfran Limited Complex, Opposite Vidyapeeth, S.V. Road,
Ghodbunder Road, Majiwada, Thane (West) - 400610, Maharashtra, India |
|
Tel. No.: |
91-22-67980888/
800 |
|
Mobile No.: |
91-9930128326
(Mr. Dilip) |
|
Fax No.: |
91-22-67980999/
67980899 |
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E-Mail : |
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|
Website : |
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|
Location: |
Owned |
|
|
|
|
Factory 1 : |
Village Takoli, P. O. Nagwain, District Mandi – 175121, Himachal
Pradesh, India |
|
Tel. No.: |
91-1905-287246/ 48/ 49 |
|
Fax No.: |
91-1905-287250 |
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E-mail: |
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|
|
|
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Factory 2 : |
Plot No. Z109, B and C, Dahej SEZ, Village Dahej, Taluka - Vagara,
Bharuch – 392130, Gujarat, India |
DIRECTORS
As on 28.09.2012
|
Name : |
Mr. Satish Varma Azad Nadimpally |
|
Designation : |
Managing director |
|
Address : |
Flat No. 1104, Quiscent Heights, Mindspace Link Road, Malad (West), Mumbai - 400064, Maharashtra, India |
|
Date of Birth/Age : |
21.03.1970 |
|
Qualification: |
Computer Science |
|
Date of Appointment : |
04.10.2004 |
|
PAN No.: |
AAPPV6580K |
|
DIN No.: |
00003255 |
|
|
|
|
Name : |
Mr. Krishna Vasantkumar Datla |
|
Designation : |
Director |
|
Address : |
42 – B, Dhananjay Presidency CHS JVPD Scheme, Juhu, Vile Parle, Mumbai-400049, Maharashtra, India |
|
Date of Birth/Age : |
17.12.1980 |
|
Qualification: |
B com |
|
Date of Appointment : |
01.02.2002 |
|
PAN No.: |
AEIPD5499Q |
|
DIN No.: |
00003247 |
|
|
|
|
Name : |
Mr. Rajendra Balkrishna Gaitonde |
|
Designation : |
Whole-time director |
|
Address : |
505 Santoor Society, Lokpuram, Thane (West) - 400610, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1962 |
|
Qualification: |
BSc in Chemical Technology from UDCT Mumbai |
|
Date of Appointment : |
04.10.2004 |
|
PAN No.: |
AEHPG9235N |
|
DIN No.: |
00003269 |
|
|
|
|
Name : |
Mrs. Anupama Vasantkumar Datla |
|
Designation : |
Whole-time director |
|
Address : |
A/802, Aditya Samarth, Ramdas Marg, Juhu Scheme, Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
12.06.1978 |
|
Qualification : |
Post Graduate in Biotechnology Science Graduate from The Boston College |
|
Date of Appointment : |
29.03.2007 |
|
PAN No.: |
AEFPD0595N |
|
DIN No.: |
00217027 |
|
|
|
|
Name : |
Mr. Sanjay Ramakant Buch |
|
Designation : |
Director |
|
Address : |
7/31, Bandra Sona CHS. Complex, Krishna Chandra Marg, Bandra (West), Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
26.09.1968 |
|
Qualification: |
B A Hons Economics |
|
Date of Appointment : |
22.01.2010 |
|
PAN No.: |
AAPPB5842A |
|
DIN No.: |
00391436 |
|
|
|
|
Name : |
Mr. Peter John Bains |
|
Designation : |
Director |
|
Address : |
Hutchins Barn, Forty Green Road, Knotty Green, HP9IXL, Beaconsfield, United Kingdom - 76152 |
|
Date of Birth/Age : |
26.07.1957 |
|
Qualification: |
BSc Combined Hons . Physiology/Zoology Sheffield University |
|
Date of Appointment : |
19.03.2010 |
|
DIN No.: |
00430937 |
|
|
|
|
Name : |
Mr. Viswanath Venkata Subrahmanya Anjaneya Chibrolu |
|
Designation : |
Director |
|
Address : |
Flat No. 302, Chaitanya Estates, Moti Nagar, X Road, Hyderabad – 500018, Andhra Pradesh, India |
|
Date of Birth/Age : |
12.08.1969 |
|
Qualification: |
MBA from IIM Lucknow |
|
Date of Appointment : |
17.01.2011 |
|
DIN No.: |
01556254 |
|
|
|
|
Name : |
Mr. Tirunelveli Padmanabhan Devarajan |
|
Designation : |
Alternate director |
|
Address : |
10.03.152 (New No 38 ST No 2) East, Marredpally, Secunderabad – 500026, Andhra Pradesh, India |
|
Date of Birth/Age : |
28.03.1964 |
|
Qualification: |
Chemical Engineer and Post Graduate Degree in Management from IIM Ahmedabad |
|
Date of Appointment : |
14.03.2011 |
|
DIN No.: |
03473633 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjay Prakash Basantani |
|
Designation : |
Secretary |
|
Address : |
601, Prairie Tower No. 5, Vasant Lawans, Near Majiwada Naka, Thane
(West), Mumbai – 400601, Maharashtra, India |
|
Date of Birth/Age : |
29.07.1979 |
|
Date of Appointment : |
03.09.2012 |
|
PAN No.: |
AKHPB9796R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
V. K. Datla |
|
12 |
|
D. G. Rajan |
|
12 |
|
O. Swaminatha Reddy |
|
12 |
|
DIL Limited, India |
|
12762464 |
|
V. R. Investment and Finance Private Limited, India |
|
15000 |
|
D. Rajeshwari |
|
85338 |
|
Govind Desai and Mr. Gunanath Govind Desai |
|
2500 |
|
Govind Desai and Mr. Damodar Govind Desai |
|
1000 |
|
Shaila G. Desai and Mr. Damodar Govind Desai |
|
1500 |
|
S. Krishnan |
|
10 |
|
S C Uniyal |
|
10 |
|
Preeti Thakkar |
|
3012 |
|
Dupen Laboratories Private Limited, India |
|
100000 |
|
Kumar Subrmanian |
|
10 |
|
S Raman |
|
10 |
|
Prashant Kutty |
|
20 |
|
DVK Investments Private Limited, India |
|
87024 |
|
K H Kashid |
|
10 |
|
Krishna Datla Jointly Mr. Rajeshwari Datla |
|
27000 |
|
Satish Varma |
|
10 |
|
Allegro Corporate Financial Advisors Private Limited, India |
|
789474 |
|
Fermenta Biotech Limited ESOP Trust, India |
|
488334 |
|
Srikant Sharma |
|
10 |
|
Evolvence India Life Science Fund LLC, Mauritius |
|
3830072 |
|
Total |
|
18192844 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2012
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
21.05 |
|
Bodies corporate |
75.60 |
|
Directors or relatives of Directors |
0.64 |
|
Other top fifty shareholders |
2.71 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Marketing of Chemicals, Bulk Drugs and
Enzymes. |
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Products : |
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PRODUCTION STATUS (31.03.2011)
|
Particulars |
Unit |
|
Installed
Capacity |
Actual
Production |
|
Biocatalyst and enzymes |
Kgs |
|
7000 |
25,429 |
|
Formulations tablets and lozenges |
Blister Packs
‘000’ |
|
---- |
1,493 |
|
Bulk Drugs |
Kgs |
|
101,900 |
129,410 |
|
|
|
|
|
|
Note: (a) Licensed capacity is not indicated as industrial licensing for all bulk
drugs, intermediate and their formulations stands abolished in terms of Press
Note No.4 (1994 Series) dated 25th October, 1994 issued by the Department of
Industrial Development, Ministry of Industry, and Government of India.
(b) * Installed capacity (201
0-201 1 and 2009-2010) has been certified by the Vice President Manufacturing
and accepted by the auditors without verification, this being a technical
matter. .
(c) ** Closing stock quantities exclude stocks written off (i) ~iocatalis-t
442 Kgs (2010 - 795 Kgs), and (ii) Bulk Drugs - 3170 Kgs (2010 - 120 Kgs).
(d) *** Sales quantity includes: Free supllies of (i) 3,170Kgs of Bulk
Drug (2010 - 2,253 Kgs); and (ii) 25 Kgs of Biocatalyst (2010 - 60 Kgs)
(e) ****Production includes quantity manufactured by loan licensee.
Biocatalyst and Enzymes - 21445 Kgs (2010 - 8200 Kgs),
Formulations Tablets and Lozenges - 1493 Blister Packs '000 (2010 - Nil)
Bulk Drug - 47550 Kgs (2010 - Nil)
20 Prior year amounts have been reclassified where necessary to confirm
with current year's presentation.
GENERAL INFORMATION
|
No. of Employees : |
500 (Approximately) |
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Bankers : |
·
Union Bank of India, Ghodbunder Road Branch, Solitaire
Tower, Manpada, Ghodbunder Road, Thane – 400607, Maharashtra, India |
|||||||||||||||
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Facilities : |
Note : Term loans for expansion of Kullu facility are taken from Union Bank of India with interest rates (BR + 4.75%) ranging from 15% to 16% repayable in 48 equal monthly instalments. The said term loans are secured by way of first charge on fixed assets procured with financial assistance of the term loan and by equitable mortgage of factory land and building at Kullu. Term loans for setting up a new facility at Dahej SEZ are taken from Union Bank of India with interest rates (BR + 4.75%) ranging from 15% to 16% repayable in 60 equal monthly instalments. The said term loans is secured by way of first charge on fixed assets procured with financial assistance of the said term loan and by equitable mortgage of factory land and building at Dahej. Term loans for expansion of Kullu facility are taken from Union Bank of India with interest rates (BR + 4.75%) ranging from 15% to 16% repayable in 48 equal monthly instalments. The said term loans are secured by way of first charge on fixed assets procured with financial assistance of the term loan and by equitable mortgage of factory land and building at Kullu. Term loans for setting up a new facility at Dahej SEZ are taken from Union Bank of India with interest rates (BR + 4.75%) ranging from 15% to 16% repayable in 60 equal monthly instalments. The said term loans is secured by way of first charge on fixed assets procured with financial assistance of the said term loan and by equitable mortgage of factory land and building at Dahej. Vehicle loans are taken from the Banks and Financial Institutions against hypothecation of the vehicles repayable in monthly instalments ranging between 36 to 60 months with interest rates ranging from 10% to 14%. Vehicle loans are taken from the Banks and Financial Institutions against hypothecation of the vehicles repayable in monthly instalments ranging between 36 to 60 months with interest rates ranging from 10% to 14%. (Packing credit, post shipment credit and cash credit are from Union Bank of India and are secured against hypothecation of Company's entire stocks of raw materials, semi-finished, and finished goods, consumable stores and spares and such other moveable including book-debts, bills, whether documentary or clean, outstanding monies, receivables, and also by way of first charge on all of the Company's fixed assets both present and future. The packing credit and cash credit are repayable on demand and carry interest @ 12% and 15% (BR+3.75%) p.a. respectively. Short term loan is repayable within a period of three years and carries interest @ 8% p.a. Packing credit, post shipment credit and cash credit are from Union Bank of India and are secured against hypothecation of Company's entire stocks of raw materials, semi-finished, and finished goods, consumable stores and spares and such other moveable including book-debts, bills, whether documentary or clean, outstanding monies, receivables, and also by way of first charge on all of the Company's fixed assets both present and future. The packing credit and cash credit are repayable on demand and carry interest @ 12% and 15% (BR+3.75%) p.a. respectively. Short term loan is repayable within a period of three years and carries interest @ 8% p.a. |
|
|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Associates Chartered Accountant |
|
Address : |
14th Floor, The Ruby, 29 Senapati Bapat Marg, Dadar (West),
Mumbai – 400028, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFS3421N |
|
|
|
|
Holding company : |
DIL Limited, India CIN No.: L99999MH1951PLC008485 |
|
|
|
|
Subsidiaries : |
· Fermenta Biotech (UK) Limited · G I Biotech Private Limited CIN No.: U24230MH2004PTC148220 |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
· Dupen Laboratories Private Limited, India CIN No.: U24239MH1976PTC103955 · Lacto Cosmetics (Vapi) Private Limited, India CIN No.: U99999MH1996PTC103910 |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19010000 |
Equity Shares |
Rs.10/- each |
Rs. 190.100 Millions |
|
990000 |
Preference Shares |
Rs.10/- each |
Rs. 9.900 Millions |
|
|
Total |
|
Rs. 200.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18192844 |
Equity Shares |
Rs.10/- each |
Rs. 181.928
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
181.928 |
181.928 |
87.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
516.373 |
410.035 |
207.932 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
698.301 |
591.963 |
294.932 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
316.527 |
157.764 |
132.820 |
|
|
2] Unsecured Loans |
15.750 |
15.750 |
30.000 |
|
|
TOTAL BORROWING |
332.277 |
173.514 |
162.820 |
|
|
DEFERRED TAX LIABILITIES |
0.633 |
0.882 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1031.211 |
766.359 |
457.752 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
578.783 |
288.244 |
208.866 |
|
|
Capital work-in-progress |
63.218 |
137.794 |
56.850 |
|
|
|
|
|
|
|
|
INVESTMENT |
18.662 |
18.662 |
18.662 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
3.275 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
208.901
|
104.537
|
71.463
|
|
|
Sundry Debtors |
230.963
|
155.922
|
112.367
|
|
|
Cash & Bank Balances |
60.438
|
103.605
|
31.928
|
|
|
Other Current Assets |
0.843
|
0.214
|
0.000
|
|
|
Loans & Advances |
73.380
|
91.040
|
26.697
|
|
Total
Current Assets |
574.525
|
455.318
|
242.455 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
134.370
|
79.359
|
38.394
|
|
|
Other Current Liabilities |
47.854
|
29.911
|
19.672
|
|
|
Provisions |
21.753
|
24.389
|
14.290
|
|
Total
Current Liabilities |
203.977
|
133.659
|
72.356 |
|
|
Net Current Assets |
370.548
|
321.659
|
170.099
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1031.211 |
766.359 |
457.752 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1014.108 |
644.415 |
480.157 |
|
|
|
Other Income |
38.850 |
11.327 |
2.987 |
|
|
|
TOTAL (A) |
1052.958 |
655.742 |
483.144 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
384.697 |
|
|
|
|
|
Purchases of stock-in-trade |
10.403 |
0.553 |
398.118 |
|
|
|
Employee benefit expense |
136.989 |
101.749 |
|
|
|
|
Other expenses |
304.329 |
198.963 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(16.138) |
(25.506) |
|
|
|
|
TOTAL (B) |
820.280 |
483.557 |
398.118 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (A-B) |
232.678 |
172.185 |
85.026 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
39.840 |
19.148 |
14.412 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
192.838 |
153.037 |
70.614 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
60.149 |
29.473 |
23.125 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
132.689 |
123.564 |
47.489 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
26.351 |
29.108 |
5.616 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
106.338 |
94.456 |
41.873 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
219.818 |
132.362 |
90.489 |
|
|
|
|
|
|
|
|
|
Less |
TRANSFERRED TO
CAPITAL REDEMPTION RESERVE |
0.000 |
7.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
326.156 |
219.818 |
132.362 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export |
782.053 |
443.449 |
341.423 |
|
|
|
Freight and insurance on exports |
21.813 |
18.402 |
7.519 |
|
|
TOTAL EARNINGS |
803.866 |
461.851 |
348.942 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
76.117 |
57.359 |
|
|
|
Stores & Spares |
NA |
0.173 |
0.000 |
|
|
|
Capital Goods |
NA |
4.661 |
5.165 |
|
|
TOTAL IMPORTS |
NA |
80.951 |
62.524 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
5.85 |
6.64 |
5.23 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
10.10
|
14.40
|
8.67 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.08
|
19.17
|
9.89 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.51
|
16.62
|
10.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.21
|
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.48
|
0.29
|
0.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.82
|
3.41
|
3.35 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOAN
|
Unsecured Loan |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
In Millions) |
|
Loans and advances from related parties |
15.750 |
15.750 |
|
Total |
15.750 |
15.750
|
BANKERS CHARGES REPORT
AS PER REGISTRY
|
Corporate
identity number of the company |
U99999MH1986PLC134021 |
|
Name of the
company |
FERMENTA BIOTECH
LIMITED |
|
Address of the
registered office or of the principal place of business in |
DIL Complex, Ghodbunder Road, Majiwada,
Thane (West) - 400610, Maharashtra, India Email: fermenta@fermentabiotech.com |
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
10330267 |
|
Type of charge |
Immovable Property Any interest in immovable property |
|
Particular of
charge holder |
Union Bank of India, Ghodbunder Road Branch, Solitaire Tower, Manpada, Ghodbunder Road, Thane – 400607,
Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Supplementary to
Simple Mortgage Deed |
|
Date of
instrument Creating the charge |
09.10.2012 |
|
Amount secured by
the charge |
Rs. 459.700
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As determined by
the Bank from time to time Terms of Repayment Term Loan in
installments and other facilities on Demand Margin As per sanction
terms Extent and Operation of the charge To Secure
Various facilties aggregating to Rs.459.700
Millions granted by the Bank to the Company as under :- Amount (Rs. in
Millions) 1) CC Hyp Stocks
and Book-Debts Rs.100.000 Millions 2) Adhoc CC Hypothecation Rs.20.000 Millions 3) PCFC limit
Against confirmed orders/LC Rs. 60.000 Millions 4) FDBP/FUDBP
Rs.60.000 Millions 5) Term Loan III
Rs. 3.100 Millions 6) Term Loan IV
Rs.15.400 Millions (7)Term Loan V Rs.18.45 (8) Union Miles Rs 1.700 Millions
(9) Import LC: Rs. 10.000 Millions (10) Letter of Guarantee: Rs. 5.000
Millions - Total Aggregating Rs. 459.700 Millions |
|
Short particulars
of the property charged |
Extension of
Registered Mortgage in respect of Company's Immovable Property viz All that piece and parcel of land known as
Plot No. 2/109/B and 2/109/C in Dahej SEJ consisting of Revenue Survey 476/P,
477/P, 478/P, 479/P, 504/P, 506/P, 507/P and 508/P within the Village limits
of Lakhigam, Taluka Vagra District Bharuch containing by admeasurements On or towards
West: 10MT wide Corridor and 30 mt wide road in the name of Fermenta Biotech
Limited with building and structures constructed to be constructed and Plant
and Machinery installed to be installed situated at Lakhigam Taluka Vagra
District Bharuch |
|
Date of latest
modification prior to the present modification |
17.07.2012 |
|
Particulars of
the present modification |
Vide this
modification charge amount is modified to Rs.459.700 Millions and secured by
Extention of Registered Mortgage in respect of companies immovable property
viz All that piece and parcel of land known as Plot No. 2/109/B and 2/109/C
in Dahej SEJ , consisting of Revenue Survey
476/P, 477/P, 478/P, 479/P, 504/P, 506/P, 507/P and 508/P within the
Village limits of Lakhigam, Taluka Vagra District Bharuch containing by admeasurements
30689.39 Sq. Mtrs (tentative) or thereabout |
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2012 |
|
Excise department had issued show cause notice against cenvat credit taken by Company of Rs.0.360 millions on Pencilin G Amidase which was captivley consumed in the manufacture of finished goods. Later on the Commissioner (Appeals) reduced the penalty to Rs.0.150 million The Company had filled an appeal against the order on 25th March, 2008. Notice for final hearing not yet received. |
0.150 |
|
Mr. R. K Kaushal had filed an appeal in labour court for his dismissal from service. The judgement is agianst the Company and Company has filed an appeal against the said order. |
0.499 |
FIXED ASSETS
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
·
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.05 |
|
|
1 |
Rs.82.75 |
|
Euro |
1 |
Rs.71.61 |
INFORMATION DETAILS
|
Report Prepared by
: |
MRI |
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 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
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.