MIRA INFORM REPORT
|
Report Date : |
16.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
AGILA SPECIALTIES PRIVATE LIMITED (w.e.f 02.07.2010) |
|
|
|
|
Formerly Known
As : |
STRIDES SPECIALTIES PRIVATE LIMITED (w.e.f 20.04.2009) QUANTUM LIFE SCIENCES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
“Strides House”, Bilekahalli, Bannerghatta Road, Bangalore – 560076,
Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2011 |
|
|
|
|
Date of
Incorporation : |
03.03.2004 |
|
|
|
|
Com. Reg. No.: |
08-033503 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.171.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U02429KA2004PTC033503 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufactures and Markets Pharmaceutical Products Including Penicllin,
Oncology Drugs and Sterile Injectables. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (37) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 4100000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of ‘Strides Arcolab Limited’. It is an
established company having moderate track record. There appear some
accumulated losses recorded by the company. The company also recorded huge external
borrowings. However, the company receives good support from its group
company. Trade relations are reported as fair. Business is active. Payments
are to be slow but correct. The company can be considered for business with slight caution. |
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 |
ICRA |
|
Rating |
LONG TERM RATING BBB |
|
Rating Explanation |
Moderate credit quality it carry higher than average credit risk |
|
Date |
February, 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Manjula |
|
Designation : |
Account Assistant |
|
Contact No.: |
91-80-67840734 |
|
Date : |
23.02.2013 |
LOCATIONS
|
Registered Office : |
“Strides House”, Bilekahalli, |
|
Tel. No.: |
91-80-66580734 |
|
Fax No.: |
91-80-66580800 |
|
E-Mail : |
|
|
|
|
|
Factory : |
|
DIRECTORS
As on: 24.05.2012
|
Name : |
Mr. Arun Kumar Pillai |
|
Designation : |
Director |
|
Address : |
E 101, Adarsh Residency, Jayanagar 8th Block, |
|
Date of Birth/Age : |
25.03.1961 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
03.03.2004 |
|
DIN No.: |
00084845 |
|
|
|
|
Name : |
Mr. Venkatraman Subramanian Iyer |
|
Designation : |
Director |
|
Address : |
L-204, Mantri Woodlands, |
|
Date of Birth/Age : |
18.03.1957 |
|
Qualification : |
Master of Science [Chemistry] and Diploma in Business Management. |
|
Date of Appointment : |
31.03.2006 |
|
DIN No.: |
00408092 |
|
|
|
|
Name : |
Mr. Srinivasan Rangan Thirukandalam |
|
Designation : |
Director |
|
Address : |
302, Scarlet Begonias, 73, 15th Cross, JP Nagar 3rd Phase, Bangalore –
560078, |
|
Date of Birth/Age : |
14.01.1965 |
|
Qualification : |
M Phil, MS and MBA |
|
Date of Appointment : |
16.03.2009 |
|
DIN No.: |
02578755 |
|
|
|
|
Name : |
Mr. Pallipuram Mathai Thampi |
|
Designation : |
Director |
|
Address : |
2b, Martha's Place, 58, Lavelle Road, 5th Cross, Bangalore – 560001, Karnataka, India |
|
Date of Birth/Age : |
29.08.1934 |
|
Date of Appointment : |
25.05.2012 |
|
DIN No.: |
00114522 |
KEY EXECUTIVES
|
Name : |
Mr. Pratap Rudra Bhuvanagiri |
|
Designation : |
Company Secretary |
|
Address : |
413, 5th B Main Road, HRBR Layout, 2nd Block,
Kalyan Nagar, |
|
Date of Birth/Age : |
27.06.1982 |
|
Date of Appointment : |
11.05.2009 |
|
Pan No.: |
AWDPP9893R |
|
|
|
|
Name : |
Mr. Mohan Babu |
|
Designation : |
Manager |
|
Address : |
41/B, Hosahally Handenahally Post, Anekal Taluk, |
|
Date of Birth/Age : |
22.07.1971 |
|
Date of Appointment : |
26.07.2006 |
|
Pan No.: |
ANUPM8158Q |
|
|
|
|
Name : |
Mr. Manjula |
|
Designation : |
Account Assistant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 24.05.2012
|
Names of Shareholders |
|
No. of Equity
Shares |
|
Strides Arcolab Limited, India |
|
15099990 |
|
N T Venkatesha |
|
5 |
|
Kannan N |
|
5 |
|
|
|
|
|
Total
|
|
15100000 |
|
Names of Shareholders |
|
No. of Shares
Preference Shares |
|
Strides Arcolab Limited, India |
|
200000 |
|
|
|
|
|
Total |
|
200000 |
Equity Share Break up (Percentage of Total Equity)
As on: 24.05.2012
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufactures and Markets Pharmaceutical Products Including Penicllin,
Oncology Drugs and Sterile Injectables. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.12.2010)
|
Particulars |
|
|
Unit |
Installed
Capacity |
|
Betalactam Plant
|
|
|
|
|
|
Capsules and tables |
|
|
Numbers in
Millions |
350.000 |
|
Dry powder vials |
|
|
Numbers in
Millions |
20.000 |
|
Sterile products
|
|
|
|
|
|
Ampoules |
|
|
Numbers in
Millions |
48.000 |
|
Liquid vials |
|
|
Numbers in
Millions |
48.000 |
|
Pre-filled syringes |
|
|
Numbers in
Millions |
7.500 |
|
Dry powder vials |
|
|
Numbers in
Millions |
16.000 |
|
Sterile
formulations facility |
|
|
|
|
|
Liquid vials |
|
|
Numbers in
Millions |
86.350 |
|
Dry powder vials |
|
|
Numbers in
Millions |
54.700 |
Installed Capacities
are as certified by the management and relied upon by the auditors. The Installed
Capacities serve multiple purposed and will vary according to product mix.
** Not applicable as
the products have been delicensed.
Actual Production
|
Particulars |
Units |
Actual
Production |
|
Capsules |
Qty (In ‘000’s) |
23812132 |
|
Injections |
Qty (In ‘000’s) |
98755444 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
|
||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Deloitte Centre, Anchorage II, 100/2, Richmond Road, Bangalore –
560025, Karnataka, India |
|
PAN No.: |
AACFD3771D |
|
|
|
|
Holding Company : |
CIN No.:
L24230MH1990PLC057062 |
|
|
|
|
Wholly owned Subsidiaries
: |
CIN
No.: U24232KA2007PLC043599 |
|
|
|
|
Other Subsidiaries : |
CIN
No.: U74140KA2007PTC043095 |
|
|
|
|
Fellow Subsidiaries : |
CIN No.: U73100KA2009PTC049535
|
|
|
|
|
Enterprises owned or
significantly influenced by key management personnel and relative of key management
personnel : |
CIN No.: U72200KA1996PTC020663
CIN No.: U74140DL2006PTC146649
CIN No.: U24232KA2007PLC042483
CIN No.: L99999MH1985PLC036685
CIN No.: U24117MH2007PLC210962
CIN No.: U24230KA2007PTC042337 |
CAPITAL STRUCTURE
After 24.05.2012
Authorised Capital : Rs. 220.000
Millions
Issued, Subscribed & Paid-up Capital : Rs.203.168 Millions
As on: 31.12.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs. 10/- each |
Rs.200.000 Millions |
|
200000 |
0.1% Redeemable Preference Shares |
Rs. 100/- each |
Rs. 20.000 Millions |
|
|
Total
|
|
Rs.220.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15100000 |
Equity Shares |
Rs. 10/- each |
Rs.151.000
Millions |
|
200000 |
0.1% Redeemable Preference Shares |
Rs. 100/- each |
Rs.20.000 Millions |
|
|
Total |
|
Rs.171.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
171.000 |
171.000 |
146.000 |
|
|
2] Monies Pending Allotment |
0.000 |
0.000 |
1000.000 |
|
|
3] Reserves & Surplus |
1155.000 |
1155.000 |
180.000 |
|
|
4] (Accumulated Losses) |
(288.420) |
(677.955) |
(115.824) |
|
|
NETWORTH |
1037.580 |
648.045 |
1210.176 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2220.522 |
700.000 |
0.000 |
|
|
2] Unsecured Loans |
2360.286 |
2215.446 |
2287.414 |
|
|
TOTAL BORROWING |
4580.808 |
2915.446 |
2287.414 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
22.237 |
|
|
|
|
|
|
|
|
TOTAL |
5618.388 |
3563.491 |
3519.827 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2464.243 |
2377.384 |
2343.336 |
|
|
Capital work-in-progress |
609.979 |
591.706 |
458.451 |
|
|
|
|
|
|
|
|
INVESTMENT |
2654.798 |
161.626 |
12.750 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
810.324
|
424.221
|
398.457
|
|
|
Sundry Debtors |
2210.904
|
616.438
|
610.246
|
|
|
Cash & Bank Balances |
405.600
|
75.802
|
6.739
|
|
|
Other Current Assets |
0.000
|
338.217
|
421.063
|
|
|
Loans & Advances |
2354.007
|
443.936
|
508.947
|
|
Total
Current Assets |
5780.835
|
1898.614
|
1945.452
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1617.941 |
1273.361 |
883.310 |
|
|
Other Current Liabilities |
4148.732
|
234.896
|
307.941
|
|
|
Provisions |
225.778
|
56.499
|
48.911
|
|
Total
Current Liabilities |
5992.451
|
1564.756
|
1240.162
|
|
|
Net Current Assets |
(211.616)
|
333.858
|
705.290
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
100.984 |
98.917 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5618.388 |
3563.491 |
3519.827 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
2927.504 |
104.177 |
|
|
|
Other Income |
|
19.501 |
1.859 |
|
|
|
TOTAL (A) |
5311.410 |
2947.005 |
106.036 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
1488.832 |
22.962 |
|
|
|
Increase/Decrease in stock |
|
17.543 |
0.000 |
|
|
|
Personnel Cost |
|
515.329 |
17.373 |
|
|
|
Operating and other expenses |
|
862.250 |
49.137 |
|
|
|
TOTAL (B) |
4718.110
(Including Financial Expenses) |
2883.954 |
89.472 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
63.051 |
16.564 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
394.569 |
2.556 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
593.300 |
(331.518) |
14.008 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
203.750 |
195.758 |
35.032 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
389.550 |
(527.276) |
(21.024) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
0.000 |
22.435 |
0.010 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
389.550 |
(504.841) |
(21.034) |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(677.970) |
(115.824) |
(94.790) |
|
|
|
|
|
|
|
|
|
|
INCLUDED ON
AMALGAMATION |
0.000 |
(57.291) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(288.420) |
(677.956) |
(115.824) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of exports of goods / contract |
NA |
2598.590 |
51.613 |
|
|
|
Development and licensing Income |
NA |
176.253 |
0.000 |
|
|
|
Other Income |
NA |
19.474 |
0.000 |
|
|
TOTAL EARNINGS |
NA |
2794.317 |
51.613 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
836.040 |
10.080 |
|
|
|
Capital Goods |
NA |
127.134 |
0.000 |
|
|
|
Other Goods |
NA |
36.876 |
0.000 |
|
|
TOTAL IMPORTS |
NA |
1000.050 |
10.080 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
25.79 |
(33.43) |
(1.67) |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
PAT / Total Income |
(%) |
7.33
|
(17.13)
|
(19.84) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
(18.01)
|
(20.18) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.72
|
(12.33)
|
(0.49) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.38
|
(0.81)
|
(0.02) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
10.19
|
6.91
|
2.91 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.96
|
1.21
|
1.57 |
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 |
No |
|
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 |
No |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
OPERATIONAL
HIGHLIGHTS:
Total revenue of the Company stood at Rs. 5311.410 Millions for the year ended December 31, 2011 as against Rs. 2941.720 Millions for the previous year ended December 31, 2010. The Company incurred a net profit of Rs. 389.550 Millions during the year.
CONTINGENT
LIABILITIES (AS ON 31.03.2011) :
Estimated amount of contracts remaining to be executed on capital account and not provided for Rs.1388.50 Millions (Previous Year - Rs.114.12 Millions)
The Company has given the corporate guarantees to financial institution towards credit facilities/ advances, on behalf of the holding Company up to Rs.250.000 Millions (Previous year Rs. 250.000 Millions). Subsequent to the year end, the mentioned corporate guarantee has been revoked on repayment of such credit facilities / advances by the holding company.
During the year ending 2007, the Company had issued and allotted 200,000, 0.01% Redeemable Preference shares (`RPS) of Rs. 100/- each at a premium of Rs. 900/- per share to Strides Arcolab Limited (SAL), the holding company aggregating to Rs. 200 Million. As per the term and condition of the issue, these RPS are redeemable at a premium of Rs. 900/- per shares on or before 31 December 2011. The Company and SAL have mutually greed to extend the redemption date of such RPS from 31 December 2011 to 31 December 2016.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity
number (CIN) or foreign company registration number of the company |
U02429KA2004PTC033503 |
|
Name of the
company |
AGILA SPECIALTIES
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
“Strides House”, Bilekahalli, Bannerghatta Road, Bangalore – 560076,
Karnataka, India E-mail: Pratap.Rudra@stridesarco.com
|
|
This form is for |
Creation of
charge |
|
Type of charge |
|
|
Particular of
charge holder |
Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr.
Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India E-mail: Abhay.Asrani1@yesbank.in |
|
Nature of
instrument creating charge |
Deed of
Hypothecation dated July 10, 2012 |
|
Date of
instrument Creating the charge |
10.07.2012 |
|
Amount secured by
the charge |
Rs.600.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Term Loan - 3%
p.a. above YES Bank's base rate plus applicable interest, tax or any other
statutory, levy if any LOU for Buyer's
Credit - 3% p.a. Terms of
Repayment Term Loan - 8
equal quarterly installments starting 1 year from the date of first disbursement
payable at the end of each quarter. LOU for Buyer's
Credit - 36 months Margin Nil Extent and
Operation of the charge First pari passu
charge on all movable fixed assets (present and future) and second pari passu
charge on current assets (present and future) of the Company. Others Proportionate
Cash flows routing through YBL |
|
hort particulars
of the property or asset(s) charged (including complete address and location
of the property) |
A. The whole of the
Current Assets of the Borrower's stocks of Raw material, semi finished and
finished goods, stores and spares including relating to plant and machinery,
Bills receivables and book debts and all other receivables and movables, both
present and future whether lying or stored in or about or shall hereinafter
from time to time during of the security of these presents be brought or upon
or be stored or be in or about of the Borrower's factories, premises, and
godowns situate anywhere and as the same may be or be held by any party to
the order or disposition of the Borrower or in the course of transit or on
high seas or on order or delivery, howsoever or wheresoever in the possession
and / or control of the Borrower and either by way substitution or addition. B. Whole of the
Movable fixed assets of the Borrower's including plant and machinery of
Borrower located at across various locations in India both present and future
or shall hereinafter from time during of the security of these presents
brought into to the order or disposition of the Borrower or in the Course of
transit or on high seas or on order or delivery, howsoever or wheresoever in
the possession of the Borrower and either by way of substitution or addition.
|
FIXED ASSETS:
- Leasehold
land
- Building
- Furniture and
fixtures
- Office
equipment and computers
- Plant and
machinery
- Motor vehicle
- Registrations
and brands
- Software
licenses
AS PER WEBSITE DETAILS:
PRESS RELEASE
STRIDES SPECIALTIES REBRANDED AS AGILA SPECIALTIES
• New name reflective of Strides’ focus on specialties
• Venkat Iyer appointed as Chief Executive Officer
Strides Arcolab Limited (Strides) today
announced that its Specialties division, Strides Specialties Private Limited
which was spun off as a separate division post the restructuring announced in
2009, will now be known as Agila Specialties Private Limited. It will continue
to function as a wholly owned subsidiary of Strides Arcolab Limited (BSE:
532531, NSE: STAR). The name Agila reflects the brand ethos of Strides’
specialised product offering which is smart, agile, determined and
pragmatic.
Concurrent with this announcement, Strides
also announced the appointment of Venkat Iyer as Chief Executive Officer of
Agila Specialties. Venkat has been with Strides for 11 years and in the
healthcare industry for 28 years. Earlier this year he was inducted onto the
Board of Strides Arcolab Limited as an Executive Director
“Against the rapid growth of our Specialties
division and the increasing role it is playing in our Company’s growth, we felt
the need for a new identity that will reflect our position in this dynamic and
challenging segment of the healthcare industry,” said Arun Kumar, Vice Chairman
and Group CEO, Strides Arcolab Limited. “The new identity also communicates our
seriousness and intent to be a steriles powerhouse. I have no doubt that under
Venkat’s leadership, Agila will only grow in stature and reputation.”
With a world class sterile injectables
platform, robust product pipeline and record regulatory filings, hi-tech
manufacturing capacities across countries, an impeccable record of quality and
marquee customers and partners across the healthcare industry, Agila Specialties is well positioned to build
a distinct identity for itself in the industry. Strategic partnerships with the
big pharma, continuing licensing income and new product launches in regulated
markets have been key growth drivers for the Company.
“I am delighted to assume leadership of Agila
Specialties at a very exciting stage in our growth,” said Venkat Iyer. “Our
focus on key domains has given us a competitive advantage in the industry,
validated by the recent partnerships we have entered into with GSK and Pfizer.
We will consolidate and build on our domain portfolio while exploring
opportunities for more partnerships against the background of growing
convergence in the industry.”
Agila Specialties will operate from 7
world-class global manufacturing facilities, including one of the largest
steriles capacity in India and amongst the largest lyophilization (freeze
drying) capacities in the world. The Company is focused on key therapeutic
areas like anti-infectives, oncology, CNS, GI, ophthalmics and peptides.
Agila Specialties is in the process of rolling
out its new brand identity across the globe. While the Company will share some
common administrative resources with the Strides Group, all employees of the
erstwhile Strides Specialties division will now be employees of Agila
Specialties.
About Strides Arcolab
Limited:
Strides Arcolab, listed on the Bombay Stock Exchange Limited (532531) and National Stock Exchange of India Limited (STAR), is a global pharmaceutical company headquartered in Bangalore, India that develops and manufactures a wide range of IP-led niche pharmaceutical products with an emphasis on sterile injectables.
The company has 14 manufacturing facilities across 6 countries with presence in more than 75 countries in developed and emerging markets. Manufacturing is ably supported by a 350-scientist strong global R&D Centre located in Bangalore.
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.54.16 |
|
|
1 |
Rs.81.74 |
|
Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYN |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
37 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.