MIRA INFORM REPORT
|
Report Date : |
08.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
GLENMARK GENERICS LIMITED (w.e.f. 29.11.2007) |
|
|
|
|
Formerly Known
As : |
GLENMARK ORGANICS LIMITED |
|
|
|
|
Registered Office
: |
B/2, Mahalaxmi Chambers 22, Bhulabhai Desai Road, Mumbai – 400026,
Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 (Profit & Loss A/c) |
|
|
|
|
Date of
Incorporation : |
29.09.1994 |
|
|
|
|
Com. Reg. No.: |
11-081597 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1499.550
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1994PLC081597 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG05256G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCG9820D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing,
Exporting and Marketing of Pharmaceutical Formulations and Active
Pharmaceutical Ingredients. |
|
|
|
|
No. of Employees
: |
3000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (61) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 43559000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a subsidiary of “Glenmark Pharmaceuticals Limited”. It is a well established and reputed company having a good track
record. Financially company has performed well during 2011-2012. The promoters seem to be well experience businessmen. Trade relations
are reported to be fair. Business is active. Payments are reported to be
regular and as per commitments. The company can be considered for normal business dealings at usual
trade terms and conditions. Note: Balance Sheet
Statement for the current year is not available. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : (CRISIL) A1+ |
|
Rating Explanation |
Having very strong degree of safety
regarding timely payment of financial obligation it carry lowest credit risk.
|
|
Date |
March 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Anil |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-40189930 |
|
Date : |
08.05.2013 |
LOCATIONS
|
Registered Office : |
B/2, Mahalaxmi Chambers 22, Bhulabhai Desai Road, Mumbai – 400026,
Maharashtra, India |
|
Tel. No.: |
91-22-24964893/ 24901481/ 67589999/ 40189999/ 40189930 |
|
Fax No.: |
91-22-24932648/ 24919652/ 67589986/ 40189986/ 40189988 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
Glenmark House, HDO-Corporate Building, Wing A, B D Sawant Marg,
Chakala, Off Western Express Highway, Andheri (East), Mumbai – 400099,
Maharashtra, India |
|
Tel. No.: |
91-22-40189999/ 40189827 |
|
Fax No.: |
91-22-40189988/ 40189804 |
|
|
|
|
Factory : |
Located at: Ø
Goa Ø
Ankleshwar Ø
Kurkumbh Ø
Mohol |
DIRECTORS
AS ON 01.08.2012
|
Name : |
Mr. Natvarlal Bhimbhai Desai |
|
Designation : |
Director |
|
Address : |
701, Kubelisque Conominm, Union Park, Pali Hill, Nargis Dutt Road, Mumbai
– 400052, Maharashtra, India |
|
Date of Birth/Age : |
23.03.1927 |
|
Qualification : |
Matric from Mumbai University |
|
Date of Appointment : |
30.06.2010 |
|
DIN No.: |
00029023 |
|
|
|
|
Name : |
Mr. Sridhar Anant Gorthi |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
1002, 10th Floor, June Blossoms, Manuel Gonsalves Road,
Bandra, Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
31.07.1972 |
|
Qualification : |
BA, LLB (Hons.) |
|
Date of Appointment : |
14.08.2008 |
|
DIN No.: |
00035824 |
|
|
|
|
Name : |
Mr. Julio Francis Ribeiro |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
5th Floor, Room No.51, Sagar Tarang Building, 15-A, K A G
Khan Road, Mumbai – 400030, Maharashtra, India |
|
Date of Birth/Age : |
05.05.1929 |
|
Qualification : |
B Com, LLB |
|
Date of Appointment : |
14.08.2008 |
|
DIN No.: |
00047630 |
|
|
|
|
Name : |
Mr. Glenn Mario Saldanha |
|
Designation : |
Director |
|
Address : |
1101 to 1102, 111th Floor, Lasolita Rustomjee Building, Off
Turner Road 28th, 25th Road, Bandra (West), Mumbai –
400050, Maharashtra, India |
|
Date of Birth/Age : |
26.11.1969 |
|
Qualification : |
B. Pharm, MBA |
|
Date of Appointment : |
18.12.2007 |
|
PAN No.: |
AMWPS4972P |
|
DIN No.: |
00050607 |
|
|
|
|
Name : |
Mr. Rajesh Vasudeo Desai |
|
Designation : |
Director |
|
Address : |
102-D Wing, Shrinath Bhuvan, Nicolas Wadi, Yashwant Tawde Path,
Dahisar (West), Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
14.07.1958 |
|
Qualification : |
B. Sc, C.A. |
|
Date of Appointment : |
30.06.2010 |
|
PAN No.: |
ACOPD2684H |
|
DIN No.: |
00050838 |
|
|
|
|
Name : |
Mr. Devendra Raj Mehta |
|
Designation : |
Director |
|
Address : |
B – 5, Mahavir Udyan Marg, Bajaj Nagar, Jaipur – 302 015, Rajasthan,
India |
|
Date of Birth/Age : |
25.06.1937 |
|
Qualification : |
B.A., LLB |
|
Date of Appointment : |
30.06.2010 |
|
DIN No.: |
01067895 |
|
|
|
|
Name : |
Mr. Terrace Joseph Coughlin |
|
Designation : |
Director |
|
Address : |
43 Chester Hill Road, Warwick, New York – 10990, USA |
|
Date of Birth/Age : |
02.11.1965 |
|
Qualification : |
Bachelors of Science and Chemistry |
|
Date of Appointment : |
05.09.2008 |
|
PAN No.: |
AHRPC4397C |
|
DIN No.: |
02135498 |
|
|
|
|
Name : |
Mr. Jalaj Sharma |
|
Designation : |
Whole Time Director |
|
Address : |
Flat 125 and 126, West End, D Wing, Raheja Vihar, Chandivali Farm
Road, Andheri (East), Mumbai – 400072, Maharashtra, India |
|
Date of Birth/Age : |
24.09.1963 |
|
Qualification : |
PGDBM (Finance) |
|
Date of Appointment : |
01.04.2009 |
|
PAN No.: |
AEKPS3848E |
|
DIN No.: |
02626340 |
KEY EXECUTIVES
|
Name : |
Mr. Pranav Kumar Pradip Kumar Mewada |
|
Designation : |
Company Secretary |
|
Address : |
C-25. Govind Dalvi Nagar CHS, C.P. Road, Kandivali (East), Mumbai –
400101, Maharashtra, India |
|
Date of Birth/Age : |
23.05.1983 |
|
Date of Appointment : |
16.08.2011 |
|
PAN No.: |
AKMPM3980B |
|
|
|
|
Name : |
Mr. Anil |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
Note:
Shareholding and Allottees details file attached.
AS ON 01.08.2012
|
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] |
|
1.75 |
|
Bodies
corporate |
|
97.96 |
|
Others
|
|
0.29 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing,
Exporting and Marketing of Pharmaceutical Formulations and Active
Pharmaceutical Ingredients. |
|
|
|
|
Products : |
Ø Injectibles Ø Ointments and
Creams Ø Solids and
Powders Ø Tablets and Capsules Ø Bulk Drugs |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
Ø USA Ø European
Countries Ø South America |
|
|
|
|
Terms : |
|
|
Selling : |
Credit |
|
|
|
|
Purchasing : |
Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Injectibles |
Ltrs |
-- |
2688 |
|
Liquid Orals |
Ltrs |
-- |
105 |
|
Lotions &
Externals |
Ltrs |
-- |
843 |
|
Ointments and
Creams |
Kgs |
972000 |
121066 |
|
Solids and
Powders |
Kgs |
-- |
190628 |
|
Tablets and
Capsules |
Nos. |
4623000000 |
2128074053 |
|
Bulk Drugs |
Kgs. |
466000 |
154360 |
Notes:
1.
The products of the Company are exempt from
licensing procedures.
2.
Installed capacity, being a technical matter, has not
been verified by the auditors. However, the management has certified the same.
3.
Actual production includes goods manufactured at
third party manufacturing facilities on loan licence basis and at leased
facilities, however same is not considered for the installed capacity
disclosure.
GENERAL INFORMATION
|
Customer : |
Wholesalers and Retailers |
||||||||||||
|
|
|
||||||||||||
|
No. of Employees : |
3000 (Approximately) |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Ø Axis Bank
Limited, Axis House, 2nd Floor, E-Wing, Bombay Dyeing Mills Compound,
Pandurang Budhkar Marg, Worli, Mumbai – 400025, Maharashtra, India [Tel No.:
91-22-43252525] Ø Axis Bank
Limited, 6th Floor, Maker Tower “F”, Cuffe Parade, Mumbai –
400005, Maharashtra, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R.G.N. Price and Company Chartered Accountants |
|
Address : |
204, Parikh Building, N.G. Acharya Road, Chembur, Mumbai – 400071,
Maharashtra, India |
|
Tel. No.: |
91-22-25281531/ 67993443/ 25280291 |
|
Fax No.: |
91-22-25280291 |
|
E-Mail : |
|
|
PAN No: |
AAAFR0651G |
|
|
|
|
Holding Company (As on 31.03.2011) : |
Glenmark
Pharmaceuticals Limited [L24299MH1977PLC019982] |
|
|
|
|
Wholly Owned Subsidiary Companies (As on 31.03.2011) : |
Ø Glenmark
Generics (Europe) Limited, U.K. Ø Glenmark
Generics Finance SA , Switzerland |
|
|
|
|
Indirect Subsidiaries (As on 31.03.2011) : |
Ø Glenmark
Generics Inc, USA Ø Glenmark Generics
S. A., Argentina Ø Glenmark
Generics Holding S.A., Switzerland Ø Glenmark
Generics B. V., Netherlands Ø Glenmark
Arzneimittel GmbH, Germany |
|
|
|
|
Associate / Fellow Subsidiary Companies (As on 31.03.2011) : |
Ø Glenmark Exports
Limited, India Ø Glenmark
Dominicana SRL, Dominican Republic Ø Glenmark Impex
L.L.C., Russia Ø Glenmark
Philippines Inc., Philippines Ø Glenmark
Farmaceutica Limited, Brazil Ø Glenmark
Pharmaceuticals Europe Limited, UK Ø Glenmark
Pharmaceuticals (Nigeria) Limited, Nigeria Ø Glenmark
Pharmaceuticals (Malaysia) Sdn.Bhd., Malaysia Ø Glenmark
Pharmaceuticals (Thailand) Company Limited, Thailand. Ø Glenmark
Pharmaceuticals S.A., Switzerland Ø Glenmark
Pharmaceuticals South Africa (Pty) Limited, South Africa Ø Glenmark South
Africa (Pty) Limited, South Africa Ø Glenmark
Pharmaceuticals (Australia) Pty. Limited, Australia Ø Glenmark Holding
S.A., Switzerland Ø Glenmark
Pharmaceuticals s.r.o, Czech Republic Ø Glenmark
Pharmaceuticals S.R.L, Romania Ø Glenmark
Pharmaceuticals Eood., Bulgaria. Ø Glenmark
Pharmaceuticals Mexico s.a. de c.v., Mexico Ø Glenmark
Pharmaceuticals Peru SAC., Peru Ø Glenmark
Pharmaceuticals SP. z.o.o, Poland Ø Glenmark
Distributors SP z.o.o, Poland Ø Glenmark Uruguay
S.A., Uruguay Ø Glenmark
Therapeutics Inc., USA Ø Glenmark Pharmaceuticals
Egypt S. A. E., Egypt Ø Glenmark
Pharmaceuticals FZE., United Arab Emirates Ø Glenmark
Pharmaceuticals Venezuela C.A., Venezuala Ø Glenmark
Pharmaceuticals Colombia Ltda., Colombia Ø Glenmark
Pharmaceuticals SK S.R.O, Slovak Republic |
CAPITAL STRUCTURE
AFTER 01.08.2012
Authorised Capital : Rs. 2000.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 1508.555
Millions
AS ON 01.08.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000000 |
Equity Shares |
Rs.10/- each |
Rs. 2000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150558023 |
Equity Shares |
Rs.10/- each
|
Rs. 1505.580
Millions |
|
|
|
|
|
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000000 |
Equity Shares |
Rs.10/- each |
Rs. 2000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
149955048 |
Equity Shares |
Rs.10/- each |
Rs. 1499.550
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
1499.550 |
1496.030 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
9390.224 |
8963.095 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
10889.774 |
10459.125 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
269.630 |
1927.736 |
|
|
2] Unsecured Loans |
|
8002.932 |
3127.788 |
|
|
TOTAL BORROWING |
|
8272.562 |
5055.524 |
|
|
DEFERRED TAX LIABILITIES |
|
582.960 |
589.655 |
|
|
|
|
|
|
|
|
TOTAL |
|
19745.296 |
16104.304 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
3854.862 |
3952.815 |
|
|
Capital work-in-progress |
|
1866.584 |
2895.725 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
1061.550 |
1061.550 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
2489.695
|
2162.322
|
|
|
Sundry Debtors |
|
3892.883
|
3822.551
|
|
|
Cash & Bank Balances |
|
189.847
|
129.071
|
|
|
Other Current Assets |
|
0.000
|
0.000
|
|
|
Loans & Advances |
|
10595.314
|
4975.939
|
|
Total
Current Assets |
|
17167.739
|
11089.883 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
1627.441
|
1565.575
|
|
|
Other Current Liabilities |
|
2557.125
|
1315.114
|
|
|
Provisions |
|
20.873
|
14.980
|
|
Total
Current Liabilities |
|
4205.439
|
2895.669 |
|
|
Net Current Assets |
|
12962.300
|
8194.214
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
19745.296 |
16104.304 |
|
Note: Balance Sheet for the year 2012 is not available only Profit & Loss
A/c is available.
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
12825.010 |
11045.200 |
8261.754 |
|
|
|
Other Income |
722.060 |
297.350 |
271.392 |
|
|
|
TOTAL |
13547.070 |
11342.550 |
8533.146 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
6319.270 |
|
|
|
|
|
Purchases of stock-in-trade |
37.370 |
36.300 |
|
|
|
|
Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
83.730 |
(149.820) |
|
|
|
|
Employee benefit expense |
934.710 |
605.230 |
|
|
|
|
Other expenses |
2731.170 |
2217.200 |
|
|
|
|
TOTAL |
10106.250 |
7817.060 |
5705.211 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
3440.820 |
3525.490 |
2827.935 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
470.170 |
438.900 |
851.376 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
2970.650 |
3086.590 |
1976.559 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
387.820 |
326.380 |
268.388 |
|
|
|
|
|
|
|
|
|
|
EXCEPTIONAL
ITEMS |
0.000 |
(2339.780) |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
2582.830 |
420.430 |
1708.171 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
399.500 |
(6.690) |
219.093 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
2183.330 |
427.120 |
1489.078 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
NA |
2527.195 |
1038.117 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
2527.195 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods calculated on FOB basis |
10863.200 |
9150.834 |
6649.046 |
|
|
|
Interest Income |
181.700 |
243.846 |
69.445 |
|
|
|
Others |
0.000 |
5.577 |
9.154 |
|
|
TOTAL EARNINGS |
11044.900 |
9400.257 |
6727.645 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
NA |
63.883 |
58.254 |
|
|
|
Raw Materials and Packing Materials |
NA |
1051.161 |
869.068 |
|
|
TOTAL IMPORTS |
NA |
1115.044 |
927.322 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
- Basic |
14.55 |
2.85 |
12.49 |
|
|
|
- Diluted |
14.43 |
2.82 |
12.28 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
16.12
|
3.77
|
17.45 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
20.14
|
3.81
|
20.68 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
2.00
|
11.36 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.04
|
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
NA
|
0.76
|
0.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA
|
4.08
|
3.83 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Sundry Creditors due to Others |
NA |
1627.441
|
1565.575
|
|
|
|
|
|
|
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
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 |
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
STAMP NO:
CALST/7288/2013
FILING DATE: 05.03.2013 |
|
STAMP NO:
LPAST/7282/2013
MAIN MATTER |
|
PETITIONER: MAHARASHTRA STATE ELECTRICITY DIST RESPONDENT: GLENMARK GENERICS
LIMITED AND ORS PETN.ADV: M. V. KINI AND COMPANY DISTRICT: MUMBAI |
|
BENCH: DIVISION STATUS: PRE-ADMISSION LAST DATE: 12.03.2013
STAGE: LAST CORAM: REGISTRAR [JUDICIAL] |
|
ACT: ELECTRICITY
SUPPLIES ACT, 1948 |
UNSECURED LOAN
|
Unsecured Loan |
31.03.2011 |
31.03.2010 |
|
|
[Rs. In Millions] |
|
|
Rupee term loans
banks unsecured |
3299.587 |
3127.463 |
|
Rupee term loans
others unsecured |
4702.750 |
0.000 |
|
Fixed deposits
unsecured |
0.595 |
0.325 |
|
Total |
8002.932 |
3127.788 |
Fixed Assets:
Tangible Assets
·
Leasehold Land
·
Factory Buildings
·
Other Buildings and
Premises
·
Plant and Machinery
·
Furniture and Fixtures
·
Equipments
·
Vehicles
Intangible Assets
·
Computer Software
·
Product Knowhow
·
Goodwill
WEBSITE DETAILS:
PRESS RELEASES:
GLENMARK GENERICS ANNOUNCES THE SETTLEMENT OF PARAGRAPH IV LITIGATION WITH JANSSEN PHARMACEUTICALS, INC.
Under the terms of the agreement, Glenmark will launch a
generic version of ORTHO TRI-CYCLEN® LO tablets as early as December 31, 2015
Glenmark Generics Inc., USA (GGI), the United States
subsidiary of Glenmark Generics Limited (GGL), today announced the settlement
of litigation pending between Glenmark and Janssen Pharmaceuticals, Inc.
(Janssen) over patent actions concerning Norgestimate and Ethinyl Estradiol
Tablets USP, 0.18/0.025 mg, 0.215/ 0.025 mg and 0.25/0.025 mg tablets, the
generic version of Janssen ORTHO TRI-CYCLEN® LO tablets.
Under the terms of the Settlement Agreements, Glenmark will be able to market
and distribute its Norgestimate and Ethinyl Estradiol Tablets USP, 0.18/0.025
mg, 0.215/ 0.025 mg and 0.25/0.025 mg tablets under a royalty bearing license
from Janssen on December 31, 2015, or earlier under certain circumstances.
Janssen currently markets its product as ORTHO TRI-CYCLEN® LO in the United
States, indicated for the prevention of pregnancy in women who elect to use
oral contraceptives as a method of contraception. Total U.S. sales as reported
by IMS Health for the 12 month period ending June 2012 were approximately USD
397 million.
About Glenmark Generics Limited
Glenmark Generics Limited (GGL) is a subsidiary of Glenmark Pharmaceuticals
Limited (Glenmark) and aims to be a global integrated Generic and API leader.
GGL has an established presence in North America and developing an EU presence
It primarily sells its FDF products in the United States ("US") and
the European Union ("EU"), as well as its oncology FDF products in
South America. The Company supplies APIs to customers in approximately 63
countries, including the US, various countries in the EU, South America and
India.
ATOVAQUONE PROGUANIL
(MALARONE®) PATENT REVOKED AND GLENMARK LAUNCHES FIRST UK GENERIC
MUMBAI, February 7,
2013
Glenmark Generics (Europe) Limited (GGEL) announces the first generic launch of Atovaquone Proguanil in the UK following the revocation of the Malarone patent in the High court in the UK.
Judgement has today been handed down in the case of Glenmark Generics (Europe) Limited and Generics [UK] Limited t/a Mylan v The Wellcome Foundation and Glaxo Group Limited.
The case involved the revocation of Glaxo's patent for its anti-malarial product Malarone. Following proceedings in the High Court, Mr. Justice Arnold revoked Glaxo's patent on the basis that it was obvious.
Atovaquone Proguanil is indicated for the prophylaxis and treatment of acute, uncomplicated p.falciparum malaria particularly where there is likely to be resistance. Based on IMS Health sales data for the 12 month period ending Sept 2012, Atovaquone Proguanil garnered sales of Euro 20.69 million in the UK.
Glenmark Generics (Europe) Limited is part of Glenmark Generics Limited. The European arm is headquartered in the UK and operates through its own entities and distribution partners in the UK, Germany, the Netherlands, Denmark, Sweden and Ireland. Glenmark Generics (Europe) Limited has an exciting portfolio of more than 300 Marketing authorisations approved in Europe. In addition to these internal filings, GGEL continues to identify and explore external development partnerships to supplement and accelerate the growth of the existing pipeline and portfolio.
About Glenmark Generics Limited
Glenmark Generics Limited (GGL) is a subsidiary of Glenmark Pharmaceuticals Limited (Glenmark) and aims to be a global integrated Generic and API leader. GGL has an established presence in North America and developing an EU presence It primarily sells its FDF products in the United States ("US") and the European Union ("EU"), as well as its oncology FDF products in South America. The Company supplies APIs to customers in approximately 63 countries, including the US, various countries in the EU, South America and India.
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. 54.28 |
|
|
1 |
Rs. 84.32 |
|
Euro |
1 |
Rs. 71.00 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
61 |
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.