MIRA
INFORM REPORT
|
Report Date : |
11.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
TROIKAA PHARMACEUTICALS LIMITED |
|
|
|
|
Registered
Office : |
Commerce House- 1, Satya Marg, Bodakdev, Ahmedabad-380054, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
17.02.1999 |
|
|
|
|
Com. Reg. No.: |
04-035441 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 86.872 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231GJ1999PLC035441 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMT01338B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCT0228K |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Pharmaceutical Bulk Drugs and Formulations |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1900000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The rating reflects the rich experience of the promoters of TPL in the
pharmaceutical industry, long-standing track record of operations with strong
presence in pain management therapeutic segment as demonstrated by the
success of its patented product Dynapar AQ and established marketing network.
Trade relations are fair. Business is active. Payment terms are
usually correct. The company can be considered for business dealing 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.
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = BB+ |
|
Rating Explanation |
Moderate risk of default and high credit risk. |
|
Date |
21.12.2012 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
21.12.2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED
Management Non-Cooperative (91-79-26856242)
LOCATIONS
|
Registered Office : |
Commerce House- 1, Satya Marg, Bodakdev, Ahmedabad-380054, Gujarat, |
|
Tel. No.: |
91-79-26856242/ 26856243/ 26856244/ 26856245 |
|
Fax No.: |
91-79-29856246 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
5000 sq.ft |
|
Location : |
Rented |
|
|
|
|
Factory 1 : |
|
|
Tel. No.: |
91-2764-274304 / 274326 / 274475 |
|
Fax No.: |
91-2764-274684 |
|
Area : |
9000 Sq. Yards |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
C – 1, Sara Industrial Estate, Chhota Rampur, Beyond Selakui, Dehradun
– 248197, Uttarakhand, India |
|
Tel. No.: |
91-135-2699146 / 6455829 |
|
Fax No.: |
91-135-2698059 |
|
E-Mail : |
|
|
Area : |
9000 Sq. Yards |
|
Location : |
Owned |
DIRECTORS
As on 29.09.2012
|
Name : |
Mrs. Bimal Natubhai Desai |
|
Designation : |
Director |
|
Address : |
No. 20, Purnaprasad Entension, Race Course Road, Madavnagar, Bangalore-560001, Karnataka, India |
|
Date of Birth/Age : |
13.04.1959 |
|
Date of Appointment : |
29.03.2005 |
|
DIN No.: |
00141120 |
|
|
|
|
Name : |
Mr. Ketan Rajnibhai Patel |
|
Designation : |
Managing Director |
|
Address : |
Aditya, 12, Nandiohill Society, Opposite ISRO, Jodhpur Tekra, Ahmedabad-380015, Gujarat, India |
|
Date of Birth/Age : |
01.09.1956 |
|
Qualification : |
M. Pharm |
|
Date of Appointment : |
17.02.1999 |
|
DIN No.: |
00187213 |
|
PAN No.: |
AAWPP5288R |
|
|
|
|
Name : |
Mr. Milan Rajnibhai Patel |
|
Designation : |
Joint Managing Director |
|
Address : |
Aditya, 12, Nandiohill Society, Opposite ISRO, Jodhpur Tekra, Ahmedabad-380015, Gujarat, India |
|
Date of Birth/Age : |
02.11.1961 |
|
Qualification : |
B.E (Chem) |
|
Date of Appointment : |
17.02.1999 |
|
DIN No.: |
00187237 |
|
PAN No.: |
AAUPP1594N |
|
|
|
|
Name : |
Mrs. Sushma Ketan Patel |
|
Designation : |
Whole Time Director |
|
Address : |
Aditya, 12, Nandiohill Society, Opposite ISRO, Jodhpur Tekra, Ahmedabad-380015, Gujarat, India |
|
Date of Birth/Age : |
22.07.1962 |
|
Date of Appointment : |
17.02.1999 |
|
DIN No.: |
00187264 |
|
PAN No.: |
AAUPP1596Q |
|
|
|
|
Name : |
Mrs. Binita Milan Patel |
|
Designation : |
Whole Time Director |
|
Address : |
Aditya, 12, Nandiohill Society, Opposite ISRO, Jodhpur Tekra, Ahmedabad-380015, Gujarat, India |
|
Date of Birth/Age : |
21.08.1966 |
|
Date of Appointment : |
17.02.1999 |
|
DIN No.: |
00187286 |
|
PAN No.: |
AIGPP4742A |
|
|
|
|
Name : |
Mrs. Ameeta Janak Patel |
|
Designation : |
Director |
|
Address : |
203/204, Adarsh Manor, 6/7, Shankar Matth Road, Shanarpuram, Bangalore-560004, Karnataka, India |
|
Date of Birth/Age : |
04.08.1953 |
|
Date of Appointment : |
15.06.2005 |
|
DIN No.: |
00344237 |
|
|
|
|
Name : |
Mr. Ninad Arvind Desai |
|
Designation : |
Director |
|
Address : |
Sohag, Sir L.S. Raod, Abdheri (West), Mumbai – 400058, Maharashtra, India |
|
Date of Birth/Age : |
09.04.1969 |
|
Date of Appointment : |
01.02.201 |
|
DIN No.: |
00384058 |
|
|
|
|
Name : |
Mr. Bharat Jayantilal Kapadia |
|
Designation : |
Director |
|
Address : |
Dhara Clinic, Gotri Main Road, Vadodara – 390007, Gujarat, India |
|
Date of Birth/Age : |
09.10.1959 |
|
Date of Appointment : |
29.03.2005 |
|
DIN No.: |
00388670 |
|
|
|
|
Name : |
Mr. Achyutkumar Dadubhai Patel |
|
Designation : |
Whole Time Director |
|
Address : |
3/A, Kalind Apartment, Near Rajivbhai Tower,Krisnabaug, Maninagar, Ahmedabd-380008, Gujarat, India |
|
Date of Birth/Age : |
23.05.1966 |
|
Date of Appointment : |
01.03.2008 |
|
DIN No.: |
02115679 |
|
|
|
|
Name : |
Mr. Prakash Jayantilal Shah |
|
Designation : |
Whole Time Director |
|
Address : |
203, Ishwarkrupa Apartment, Usmanpura, Ahmedabad-380013, Gujarat, India |
|
Date of Birth/Age : |
18.08.1958 |
|
Date of Appointment : |
01.03.2008 |
|
DIN No.: |
02130088 |
KEY EXECUTIVES
|
Name : |
Mr. Rujuta Dipal Mehta |
|
Designation : |
Secretary |
|
Address : |
21, Lad Society, Near Nehru Park, Vastrapur, Ahmedabad – 380015,
Gujarat, India |
|
Date of Birth/Age : |
25.01.1976 |
|
Date of Appointment : |
01.06.2011 |
|
PAN No.: |
AKFPM8474R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Equity Shares |
|
|
|
Ketan R Patel |
|
813824 |
|
|
|
406962 |
|
Binita M Patel |
|
406862 |
|
Sushma V Patel |
|
813724 |
|
Deepak B soni |
|
300 |
|
Ameeta J Patel |
|
100300 |
|
Sutanben R Patel |
|
130 |
|
Asheel K Patel |
|
542482 |
|
Nisheel K Patel |
|
542482 |
|
|
|
542482 |
|
|
|
|
|
Total |
|
4169548 |
|
Names of Shareholders |
No. of Shares |
|
Preference Shares of 11.5% |
|
|
Ketan R Patel |
191000 |
|
|
46100 |
|
Binita M Patel |
17000 |
|
Sushma V Patel |
24500 |
|
Ameeta J Patel |
124500 |
|
Sutanben R Patel |
114100 |
|
Asheel K Patel |
1400 |
|
R V Patel (Huf) |
37000 |
|
Anilaben Patel |
2100 |
|
Jankaben R Patel |
7000 |
|
Nakul Desai |
5000 |
|
Dashrathbhai M Desai |
30000 |
|
Shashikalaben Desai |
30000 |
|
|
|
|
Total |
629700 |
|
|
|
|
Preference Shares
of 9.0% |
|
|
|
|
|
|
330000 |
|
Exel Chemicals India Private Limited, India |
1800000 |
|
Dashrath M Desai |
60000 |
|
Nakul N Desai |
13000 |
|
Ameeta J Patel |
260000 |
|
Shaunak J Patel |
240000 |
|
Sheela J Desai |
60000 |
|
Unnat J Desai |
50000 |
|
Sutan Desai |
645000 |
|
Ketan R Patel |
330000 |
|
Sushma K patel |
100000 |
|
|
|
|
Total |
3888000 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
99.99 |
|
Other top fifty shareholders |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pharmaceutical Bulk Drugs and Formulations |
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|
|
|
||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Chandrakant K Thakkar and Company Chartered Accountants |
|
Address : |
701-723, 7th Floor, Devpath, Behind Lal Bungalow, Off. |
|
Tel. No.: |
91-79-26430036/37 |
|
PAN No.: |
ABIPT2748P |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives |
Exel Chemicals (India) Private Limited |
|
|
|
|
Associate : |
Troikaa Exports Private Limited |
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
5000000 |
Preferences Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
Total |
|
Rs. 100.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4169548 |
Equity Shares |
Rs. 10/-
each |
Rs.41.695
Millions |
|
629700 |
11.50% Cumulative Preference Shares |
Rs. 10/-
each |
Rs. 6.297
Millions |
|
3888000 |
9.00% Cumulative Preference Shares |
Rs. 10/-
each |
Rs.38.880
Millions |
|
|
Total |
|
Rs.86.872 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
86.872 |
86.872 |
|
(b) Reserves & Surplus |
|
388.922 |
305.423 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
475.794 |
392.295 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
821.197 |
618.328 |
|
(b) Deferred tax liabilities (Net) |
|
6.494 |
5.977 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
827.691 |
624.305 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
41.259 |
42.835 |
|
(b) Trade payables |
|
289.776 |
312.120 |
|
(c) Other current
liabilities |
|
154.545 |
165.136 |
|
(d) Short-term provisions |
|
66.234 |
43.431 |
|
Total Current Liabilities (4) |
|
551.814 |
563.522 |
|
|
|
|
|
|
TOTAL |
|
1855.299 |
1580.122 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
551.109 |
566.103 |
|
(ii) Intangible Assets |
|
30.000 |
30.000 |
|
(iii) Capital
work-in-progress |
|
11.280 |
9.620 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.124 |
0.108 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
14.015 |
11.134 |
|
(e) Other Non-current assets |
|
133.837 |
7.986 |
|
Total Non-Current Assets |
|
740.365 |
624.951 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
684.419 |
652.740 |
|
(c) Trade receivables |
|
215.483 |
144.761 |
|
(d) Cash and cash
equivalents |
|
65.193 |
55.684 |
|
(e) Short-term loans and
advances |
|
149.839 |
101.986 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
1114.934 |
955.171 |
|
|
|
|
|
|
TOTAL |
|
1855.299 |
1580.122 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
86.872 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
246.492 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
333.364 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
498.553 |
|
|
2] Unsecured Loans |
|
|
98.400 |
|
|
TOTAL BORROWING |
|
|
596.953 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
930.317 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
575.687 |
|
|
Capital work-in-progress |
|
|
1.811 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.108 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
436.802
|
|
|
Sundry Debtors |
|
|
125.407
|
|
|
Cash & Bank Balances |
|
|
19.930
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
99.234
|
|
Total
Current Assets |
|
|
681.373
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
248.745
|
|
|
Current Liabilities |
|
|
40.286
|
|
|
Provisions |
|
|
39.631
|
|
Total
Current Liabilities |
|
|
328.662
|
|
|
Net Current Assets |
|
|
352.711
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
930.317 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1968.542 |
1745.421 |
1279.702 |
|
|
|
Other Income |
10.052 |
10.727 |
18.048 |
|
|
|
TOTAL (A) |
1978.594 |
1756.148 |
1297.750 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
539.643 |
571.528 |
|
|
|
|
Purchases of stock-in-trade |
249.673 |
252.470 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(7.413) |
(209.960) |
1121.404 |
|
|
|
Employee benefit expense |
347.591 |
354.405 |
|
|
|
|
Other expenses |
583.016 |
587.858 |
|
|
|
|
Extraordinary items |
(3.550) |
0.339 |
|
|
|
|
TOTAL (B) |
1708.960 |
1556.640 |
1121.404 |
|
|
|
1708.960 |
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
269.634 |
199.508 |
176.346 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
119.406 |
82.627 |
71.579 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
150.228 |
116.881 |
104.767 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
38.874 |
36.694 |
34.273 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
111.354 |
80.187 |
70.494 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
22.800 |
16.200 |
12.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
88.554 |
63.987 |
58.494 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
279.101 |
230.023 |
187.801 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
10.000 |
10.000 |
10.000 |
|
|
|
Dividend |
4.224 |
4.224 |
4.223 |
|
|
|
Tax on Dividend |
0.685 |
0.685 |
0.717 |
|
|
BALANCE CARRIED
TO THE B/S |
252.746 |
279.101 |
230.023 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
386.238 |
344.701 |
231.763 |
|
|
TOTAL EARNINGS |
386.238 |
344.701 |
231.763 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
166.656 |
149.694 |
145.618 |
|
|
|
Capital Goods |
2.367 |
15.935 |
4.198 |
|
|
|
Packing Materials |
3.224 |
1.143 |
0.000 |
|
|
|
Other |
1.168 |
0.490 |
0.000 |
|
|
TOTAL IMPORTS |
173.415 |
167.262 |
149.816 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
20.06 |
14.17 |
12.52 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
4.48
|
3.64 |
4.50
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.66
|
4.59 |
5.50
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.04
|
5.11 |
5.60
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.20 |
0.21
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.81
|
1.69 |
1.79
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.02
|
1.70 |
2.07
|
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
Rs. In Millions
|
Particular |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
Current maturities of long-term debt |
115.346 |
122.282 |
NA |
|
|
|
|
|
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
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 |
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 |
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 |
LITIGATIONS DETAILS
|
HIGH COURT OF GUJARAT APPEAL FROM ORDER-STAMP NUMBER No.
96 of 2012 Status : PENDING CCIN No : 001002201200096 Last Listing Date: 29/03/2012 Coram : ADDITIONAL REGISTRAR ( JUDICIAL) |
|
S.NO. |
Name of the
Petitioner |
Advocate On Record |
|
1 |
LINCOLN PHARMACEUTICALS LIMITED |
- |
|
S.NO. |
Name of the
Respondant |
Advocate On Record |
|
1 |
TROIKAA PHARMACEUTICALS LIMITED |
- |
|
Presented On |
: 14/03/2012 |
Registered On |
: 14/03/2012 |
|
Bench Category |
: SINGLE BENCH |
District |
: AHMEDABAD |
|
Case Originated
From |
: THROUGH ADVOCATE |
Listed |
: 0 times |
|
StageName |
: OFFICE OBJECTION (FILING STAGE) |
||
|
Classification |
SJ - APPEAL FROM ORDER - CODE OF CIVIL PROCEDURE, 1908 - UNDER ORDER 43 RULE 1 - AN ORDER UNDER RULE 1 OR RULE 4 OF ORDER XL |
||
|
Act |
CIVIL PROCEDURE CODE, 1908 |
||
COURT PROCEEDINGS
|
S. No. |
Notified Date |
CourtCode |
Board Sr. No. |
Stage |
Action |
Coram |
|
1 |
29/03/2012 |
51 |
- |
OFFICE OBJECTION (FILING STAGE) |
NEXT DATE |
ADDITIONAL REGISTRAR ( JUDICIAL) |
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long-term
Borrowings |
|
|
|
Borrowing from government semi-government bodies |
7.290 |
0.000 |
|
Deposits from directors |
1.793 |
2.222 |
|
Deposits from shareholders |
2.228 |
1.403 |
|
Intercorporate deposits |
88.221 |
47.164 |
|
Public deposits |
30.765 |
14.672 |
|
Deposits from others |
53.911 |
53.384 |
|
Short-term
Borrowings |
|
|
|
Intercorporate deposits |
41.259 |
42.835 |
|
Total |
225.467 |
161.680 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10433267 |
27/04/2013 |
963,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B78057627 |
|
2 |
10348041 |
30/03/2012 * |
150,000,000.00 |
BANK OF BARODA |
ASHRAM ROAD BRANCH, VALLABH SADAN BHAVAN, ASHRAM ROAD, AHMEDABAD, GUJARAT - 380009, INDIA |
B37225885 |
|
3 |
10181983 |
13/05/2013 * |
212,800,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, PARAMSIDDHI COMPLEX, ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA |
B76184332 |
|
4 |
10137897 |
01/01/2009 |
1,425,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A54680921 |
|
5 |
10071482 |
19/09/2013 * |
1,031,700,000.00 |
BANK OF BARODA |
ASHRAM ROAD BRANCH, VALLABH SADAN BHAVAN, ASHRAM ROAD, AHMEDABAD, GUJARAT - 380009, INDIA |
B85976694 |
|
6 |
10071502 |
19/09/2013 * |
1,031,700,000.00 |
BANK OF BARODA |
ASHRAM ROAD BRANCH, VALLABH SADAN BHAVAN, ASHRAM ROAD, AHMEDABAD, GUJARAT - 380009, INDIA |
B85980670 |
|
7 |
10071519 |
27/09/2007 |
11,200,000.00 |
BANK OF BARODA |
ASHRAM ROAD BRANCH, VALLABH SADAN BHAVAN, ASHRAM ROAD, AHMEDABAD, GUJARAT - 380009, INDIA |
A24990046 |
|
8 |
80005615 |
19/09/2013 * |
1,031,700,000.00 |
BANK OF BARODA |
ASHRAM ROAD BRANCH, VALLABH SADAN BHAVAN, ASHRAM ROAD, AHMEDABAD, GUJARAT - 380009, INDIA |
B85978427 |
|
9 |
80005613 |
24/06/2006 * |
120,900,000.00 |
BANK OF BARODA |
ASHRAM ROAD BRANCH, VALLABH SADAN BHAVAN, ASHRAM ROAD, AHMEDABAD, GUJARAT - 380009, INDIA |
- |
|
10 |
80009610 |
23/01/2004 |
8,732,000.00 |
BANK OF BARODA |
ASHRAM ROAD BRANCH, VALLABH SADAN BHAVAN, ASHRAM ROAD, AHMEDABAD, GUJARAT - 380009, INDIA |
- |
|
11 |
80004120 |
25/05/2007 * |
124,100,000.00 |
BANK OF BARODA |
ASHRAM ROAD BRANCH, VALLABH SADAN BHAVAN, ASHRAM ROAD, AHMEDABAD, GUJARAT - 380009, INDIA |
A16067365 |
|
12 |
80004019 |
13/05/2006 * |
120,900,000.00 |
BANK OF BARODA |
ASHRAM ROAD BRANCH, VALLABH SADAN BHAVAN, ASHRAM ROAD, AHMEDABAD, GUJARAT - 380009, INDIA |
- |
* Date of charge modification
FIXED ASSETS
- Brand Equity
- Land
- Building
- Plant and Machinery
- Electrical Installation
- Computers
- Office Equipments
- Furniture and Fixture
- 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.62.73 |
|
|
1 |
Rs.100.92 |
|
Euro |
1 |
Rs.84.06 |
INFORMATION DETAILS
|
Information
Gathered by : |
NAY |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--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 |
|
47 |
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.