MIRA INFORM REPORT
|
Report Date : |
15.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAMRAT PHARMACHEM LIMITED (w.e.f. 24.07.1992)
|
|
|
|
|
Formerly Known
As : |
SAMRAT PHARMACHEM PRIVATE LIMITED |
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|
|
|
Registered
Office : |
Plot No.A2/3445, G.I.D.C., Phase–4, Ankleshwar – 393 002, Gujarat |
|
|
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|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
16.06.1992 |
|
|
|
|
Com. Reg. No.: |
04-017820 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.30.897
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24230GJ1992PLC017820 |
|
|
|
|
IEC No.: |
0392065622 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS42633D BRDS06273B |
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|
|
|
PAN No.: [Permanent Account No.] |
AAECS0806M |
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|
|
|
Legal Form : |
Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges. |
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|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Pharmaceutical Chemicals. |
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|
|
|
No. of Employees
: |
30 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 499000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record.
Sales turnover and profit of the company appears to be decent. Trade relations are reported to be fair. Business is active. Payment
terms are usually correct. The company can be considered for business dealing at usual trade
terms and conditions. NOTE: Latest
financials for the year 2013, is no available with us. |
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
India’s current
account deficit or CAD in April-June widened to 4.9 % of gross domestic
product. High imports of gold and oil led to a worsening of the trade deficit, resulting
in CAD jumping to $ 21.8 billion to the latest quarter from $ 16.9 billion in
the corresponding quarter of the previous financial year. The government aims
to bring down CAD to 3.7 % or $ 70 billion, in 2013/14, from 4.8 % or $ 88.2
billion in 2012/13.
The finance ministry
has started preparations for Budget 2014/15. With general elections scheduled
to be held by May next year, there will only be an interim budget. The new
government will present the fiscal Budget.
The Supreme Court
has barred clinical trials for new drugs till a monitoring mechanism is put in
place to protect the lives of people on which the drugs are tested.
Mumbai has been
named the world’s second most honest city according to a survey on 15 cities
worldwide by Readers’ Digest magazine. Finnish capital Helsinki bagged the top
spot for the world’s most honest city while Lisbon, the capital of Portugal,
proved to be the least honest. The survey put hundreds of people to test
in four continents to find out just how honest they were by dropping wallets
and seeing how many would be returned.
3.7 % Growth of the
core sector in August, a seven month high. This takes the overall growth in
April-August this year to 2.3 % compared with 6.3 % in the corresponding period
next financial year.
$19 million
Estimated average spending by companies across the globe including India, on
social media this year, according to a global study by information technology
major Tata Consultancy Services. This will rise to $ 24 million in 2015.
Rising inflation,
fewer employment avenues and dwindling earnings are taking a toll on the
spending capacity in India. Over 72 % respondents from middle and lower middle
income families would be forced to slash their Diwali expenditure by 40 % and
on average spend nearly 25 % of their monthly salary on Diwali, according to a
survey by Assochem.
Analysts believe the
shutdown of the US government would have limited impact in sectors such as IT
or tourism that are dependent on Visa clearances.
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 [GENERAL DETAILS]
|
Name : |
Mr. Manoj |
|
Designation : |
Office Executive |
|
Contact No.: |
91-2646-220774 |
|
Date : |
13.11.2013 |
LOCATIONS
|
Registered Office/ Statutory Office/ Factory 1 : |
Plot No.A2/3445, G.I.D.C., Phase–4, Ankleshwar – 393 002, Gujarat,
India |
|
Tel. No.: |
91-2646-220774 |
|
Mobile No.: |
91-9321002222 (Mr. Rajesh Mehta) |
|
Fax No.: |
91-2646-251291 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
3645 sq. mtr |
|
Location : |
Leased |
|
|
|
|
Corporate Office 1 : |
A/7, Sai Prasad, 2nd Floor, Teli Gali Cross Lane, Andheri
(East), Mumbai – 400 069, Maharashtra, India |
|
Tel. No.: |
91-22-26841707/ 40/ 26833756 |
|
Fax No.: |
91-22-26843745 |
|
E-Mail : |
|
|
Area : |
500 sq. ft. |
|
Location : |
Leased |
|
|
|
|
Corporate Office 2 : |
701/702, Business Square, M.A. Road, Andheri (West), Mumbai – 400 058, Maharashtra, India |
|
Tel. No.: |
91-22-26701050/
1/ 2 |
|
Fax No.: |
91-22-26701053 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
Plot No.A2/3444, G.I.D.C., Phase–4, Ankleshwar – 393 002, Gujarat,
India |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Lalit Damodar Mehta |
|
Designation : |
Managing Director |
|
Address : |
B/74, Roop Darshan, Juhu Lane, Andheri (West), Mumbai – 400 058,
Maharashtra, India |
|
Date of Birth/Age : |
08.08.1936 |
|
Qualification : |
B. Sc , LLB |
|
Date of Appointment : |
01.04.2011 |
|
PAN No.: |
AABPM9691E |
|
DIN No.: |
00216681 |
|
|
|
|
Name : |
Mr. Rajesh Lalit Mehta |
|
Designation : |
Whole Time Director |
|
Address : |
B/74, Roop Darshan, Juhu Lane, Andheri (West), Mumbai – 400 058,
Maharashtra, India |
|
Date of Birth/Age : |
25.06.1964 |
|
Qualification : |
B.Com, ACA |
|
Date of Appointment : |
01.04.2011 |
|
PAN No.: |
AABPM9692H |
|
DIN No.: |
00216731 |
|
|
|
|
Name : |
Mr. Mahendra Indulal Pipalia |
|
Designation : |
Director |
|
Address : |
A/15, Shatdal, Azad Lane, S.V. Road, Andheri (West), Mumbai – 400 058,
Maharashtra, India |
|
Date of Birth/Age : |
09.11.1963 |
|
Qualification : |
B.Com, ACA |
|
Date of Appointment : |
17.03.2003 |
|
DIN No.: |
00216959 |
|
|
|
|
Name : |
Mr. Samir Harsukhrai Kothary |
|
Designation : |
Director |
|
Address : |
B/45, Roop Darshan, Juhu Lane, Andheri (West), Mumbai – 400 058,
Maharashtra, India |
|
Date of Birth/Age : |
10.10.1962 |
|
Qualification : |
B. Sc, DBM |
|
Date of Appointment : |
30.07.2003 |
|
DIN No.: |
00216603 |
SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Category of
Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
1445431 |
46.78 |
|
|
1445431 |
46.78 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
1445431 |
46.78 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
0 |
3.24 |
|
|
0 |
3.24 |
|
|
|
|
|
|
146086 |
4.78 |
|
|
|
|
|
|
639163 |
30.74 |
|
|
398088 |
12.88 |
|
|
19922 |
1.58 |
|
|
3322 |
0.11 |
|
|
16600 |
1.47 |
|
|
1203259 |
49.98 |
|
Total Public shareholding (B) |
1203259 |
53.22 |
|
Total (A)+(B) |
2648690 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
2648690 |
0.00 |
SHAREHOLDING OF SECURITIES (INCLUDING SHARES, WARRANTS, CONVERTIBLE SECURITIES)
OF PERSONS BELONGING TO THE CATEGORY “PROMOTER AND PROMOTER GROUP”
|
Sl. |
Name of the
Shareholder |
Details of
Shares held |
|
|
|
|
No. of Shares
held |
As a % of |
|
|
|
|
|
|
1 |
Lalit Damodar Mehta |
4,17,198 |
13.50 |
|
2 |
Rajesh Lalit Mehta |
3,72,853 |
12.07 |
|
3 |
Premal Lalit Mehta |
1,74,281 |
5.64 |
|
4 |
Kaushal Lalit Mehta |
1,50,586 |
4.87 |
|
5 |
Jaya Lalit Mehta |
1,19,300 |
3.86 |
|
6 |
Rupal Rajesh Mehta |
73,300 |
2.37 |
|
7 |
Kalpana Premal Mehta |
69,300 |
2.24 |
|
8 |
Falguni Kaushal Mehta |
66,400 |
2.15 |
|
9 |
Megh Rajesh Mehta |
2,213 |
0.07 |
|
|
Total |
14,45,431 |
46.78 |
SHAREHOLDING OF SECURITIES (INCLUDING SHARES, WARRANTS, CONVERTIBLE SECURITIES)
OF PERSONS BELONGING TO THE CATEGORY “PUBLIC” AND HOLDING MORE THAN 1% OF THE
TOTAL NUMBER OF SHARES
|
Sl. |
Name of the
Shareholder |
Details of
Shares held |
|
|
|
|
No. of Shares
held |
As a % of |
|
|
|
|
|
|
1 |
Mala R Bhavnani |
143149 |
4.63 |
|
2 |
Llyods Securities Overseas Limited |
100000 |
3.24 |
|
3 |
Lake City Traders Private Limited |
72486 |
2.35 |
|
4 |
Sangeetha S |
69400 |
2.25 |
|
5 |
Savitha S |
52000 |
1.68 |
|
6 |
S Sathya |
45700 |
1.48 |
|
7 |
Joindre Capital Services Limited |
31546 |
1.02 |
|
|
Total |
514281 |
16.65 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Pharmaceutical Chemicals. |
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Products : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Pharmaceutical Chemicals |
MT |
415.20 |
372.90 |
|
|
|
|
|
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
30 (Approximately) |
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Bankers : |
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Shah, Shah and Shah Chartered Accountants |
|
Address : |
502, Damji Shamji Trade Centre, Vidyavihar (West), Mumbai – 400 086,
Maharashtra, India |
|
Tel. No.: |
91-22-25100861/ 25109990 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AALFS8301D |
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 |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3089700 |
Equity Shares |
Rs.10/- each |
Rs.30.897
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 |
|
30.897 |
30.897 |
|
(b) Reserves & Surplus |
|
94.069 |
56.297 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
0.000 |
0.000 |
|
|
|
|
|
|
(3) Non-current
liabilities |
|
|
|
|
(a) Long-term borrowings |
|
13.202 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
2.502 |
2.320 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) Long-term
provisions |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short
term borrowings |
|
21.006 |
16.324 |
|
(b) Trade
payables |
|
138.553 |
79.280 |
|
(c) Other
current liabilities |
|
0.381 |
0.228 |
|
(d) Short-term
provisions |
|
14.546 |
2.594 |
|
TOTAL |
|
315.156 |
187.940 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
36.297 |
25.394 |
|
(ii)
Intangible Assets |
|
0.018 |
0.034 |
|
(iii)
Capital work-in-progress |
|
27.600 |
4.328 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
1.027 |
0.830 |
|
(e) Other
Non-current assets |
|
1.376 |
1.124 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
73.673 |
30.806 |
|
(c) Trade
receivables |
|
105.013 |
93.700 |
|
(d) Cash
and cash equivalents |
|
44.487 |
14.961 |
|
(e)
Short-term loans and advances |
|
0.216 |
0.180 |
|
(f) Other
current assets |
|
25.449 |
16.583 |
|
TOTAL |
|
315.156 |
187.940 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
30.897 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
42.875 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
73.772 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
16.292 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
16.292 |
|
|
DEFERRED TAX LIABILITIES |
|
|
2.212 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
92.276 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
23.039 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
14.154
|
|
|
Sundry Debtors |
|
|
75.949
|
|
|
Cash & Bank Balances |
|
|
30.423
|
|
|
Other Current Assets |
|
|
4.854
|
|
|
Loans & Advances |
|
|
2.047
|
|
Total
Current Assets |
|
|
127.427
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
57.452
|
|
|
Other Current Liabilities |
|
|
0.200
|
|
|
Provisions |
|
|
0.538
|
|
Total
Current Liabilities |
|
|
58.190
|
|
|
Net Current Assets |
|
|
69.237
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
92.276 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
695.431 |
434.296 |
479.695 |
|
|
|
Other Income |
2.508 |
1.455 |
0.224 |
|
|
|
TOTAL (A) |
697.939 |
435.751 |
479.919 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
649.748 |
377.379 |
|
|
|
|
Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
(58.877) |
(4.013) |
|
|
|
|
Employee benefit expense |
5.048 |
3.798 |
|
|
|
|
Other expenses |
35.942 |
33.074 |
|
|
|
|
TOTAL (B) |
631.861 |
410.238 |
461.396 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
66.078 |
25.513 |
18.523 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6.160 |
2.792 |
3.037 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
59.918 |
22.721 |
15.486 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.928 |
1.613 |
1.465 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
57.990 |
21.108 |
14.021 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
20.217 |
7.686 |
2.748 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
37.773 |
13.422 |
11.273 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
56.297 |
42.875 |
31.602 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
94.070 |
56.297 |
42.875 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
253.221 |
111.057 |
64.821 |
|
|
TOTAL EARNINGS |
253.221 |
111.057 |
64.821 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
314.956 |
301.544 |
|
|
TOTAL IMPORTS |
NA |
314.956 |
301.544 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
12.23 |
4.34 |
3.96 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2012 (1st Quarter) |
30.09.2012 (2nd Quarter) |
31.12.2012 (3rd Quarter) |
31.03.2013 (4th Quarter) |
30.06.2013 (5th Quarter) |
|
Net Sales |
178.100 |
198.000 |
158.300 |
172.700 |
188.000 |
|
Total Expenditure |
175.800 |
189.600 |
154.800 |
172.600 |
188.600 |
|
PBIDT (Excl OI) |
2.300 |
8.400 |
3.500 |
0.100 |
(00.600) |
|
Other Income |
0.400 |
0.500 |
0.000 |
2.600 |
(00.200) |
|
Operating Profit |
2.700 |
8.900 |
3.500 |
2.700 |
(00.400) |
|
Interest |
1.700 |
4.000 |
1.700 |
2.000 |
02.100 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
PBDT |
0.900 |
4.900 |
1.800 |
0.700 |
(02.500) |
|
Depreciation |
0.600 |
0.600 |
0.600 |
0.600 |
00.800 |
|
Profit Before Tax |
0.300 |
4.300 |
1.100 |
0.100 |
(03.300) |
|
Tax |
0.200 |
1.300 |
0.200 |
0.100 |
00.100 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
0.200 |
3.000 |
0.900 |
0.000 |
(03.400) |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
0.200 |
3.000 |
0.900 |
0.000 |
(03.400) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
5.41
|
3.08
|
2.35 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.34
|
4.86
|
2.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.17
|
11.62
|
9.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.46
|
0.24
|
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.27
|
0.19
|
0.22 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.43
|
1.59
|
2.19 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT
MATURITIES OF LONG-TERM DEBT: NOT AVAILABLE
|
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 |
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
No |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10322529 |
05/12/2011 |
8,000,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B27635127 |
|
2 |
10313445 |
21/10/2011 |
20,000,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B23633027 |
|
3 |
10312791 |
19/10/2011 |
17,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI - 400013, MAHARASHTRA,
INDIA |
B23437551 |
|
4 |
10101754 |
29/10/2012 * |
195,000,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE COURCE
CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B62528450 |
|
5 |
80001467 |
20/10/2012 * |
195,000,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B62630538 |
|
* Date of charge
modification |
||||||
OPERATIONS
The company has
performed reasonably well during the year. In a highly competitive business
environment, the Company achieved a turnover of Rs.754.324 millions as against Rs.475.571
millions achieved last year - a increase of around 59%. Production of 300.04
tons of pharmaceutical chemicals was achieved during the year.
EXPORTS
During the year
2011-2012 the company's export division registered sales of Rs.253.221 millions,
up from Rs.111.057 millions last year. The Company has initiated several export
promotion measures to increase exports. The products of the Company have been
well accepted in the international market and the Company expects better export
turnover in the coming year.
MANAGEMENT DISCUSSION AND ANALYSIS
INDUSTRY STRUCTURE AND DEVELOPMENTS
The Company is a
producer of pharmaceutical chemicals. The intermediates produced are used in
pharmaceutical and chemical industries. The Company is amongst the manufacturers
who produce for local and international needs of the pharmaceuticals and
chemicals industry. The pharmaceutical and chemical industry is growing at a
rapid pace every year. This results into growth of the support or intermediate
industry like us.
PRODUCT PERFORMANCE
The company has
two plants producing varied items. The basic purpose of producing in two
different plants is to improve efficiency and manageability. The Company shall
achieve sustainable growth in both plants by modernization and automation of
operations. According to the Directors, these plants facilitate better division
of labour, enable them to develop expertise in each plant and their respective
items, and hence improve productivity and profitability of the Company.
OUTLOOK
According to Yes
Bank Report titled "Indian Pharmaceutical Industry: Vision 2015", the
Indian Pharmaceutical and Chemical industry is projected to grow at an annual
rate of 14.2%. Currently valued at USD 10 Billion, the projected turnover to
touch USD 50 Billion by the year 2015.
FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL
PERFORMANCE
A satisfactory
business performance with average volume growth in key products and business
units, combined with productivity improvement, cost management and working
capital management have contributed to the good operating results for the year.
Also sharp focus on cost and margins has resulted in enhanced operational
efficiency.
STATEMENT
OF STANDALONE AUDITED RESULTS FOR THE QUARTER AND FOR THE YEAR ENDED 31 MARCH
2013
(Rs.
in Millions)
|
|
|
Quarter Ended |
Year Ended |
|
|
No. |
Particulars |
31.03.2013 |
31.12.2013 |
31.03.2013 |
|
1. |
(a) Net Income from Sales and Services |
171.634 |
155.931 |
705.212 |
|
|
(b) Other Operating Income |
1.075 |
0.068 |
2.657 |
|
|
Total income |
203.9403 |
187.3203 |
739.1003 |
|
2. |
Expenses |
|
|
|
|
|
(a) (Increase)/ Decrease in Stock in Trade/ WIP |
(32.699) |
(1.822) |
(16.009) |
|
|
(b) Consumption of Raw Material |
190.514 |
156.256 |
668.782 |
|
|
(c) Purchase of Traded Goods |
0.000 |
0.000 |
0.000 |
|
|
(d) Employee Benefits Expense |
2.725 |
2.339 |
8.540 |
|
|
(e) Depreciation |
0.612 |
0.559 |
2.415 |
|
|
(f) Other Expenditure |
|
|
|
|
|
(i) Manufacturing Expenses |
8.639 |
4.462 |
19.126 |
|
|
(ii) Administrative Expenses |
1.729 |
2.176 |
7.102 |
|
|
(iii) Selling and Distribution Expenses |
1.712 |
2.548 |
5.201 |
|
|
Total Expenses |
173.232 |
170.162 |
695.157 |
|
3. |
Profit/ (Loss) from Operations before Other Income, Interest and Exceptional Items |
(0.523) |
(14.163) |
12.712 |
|
4. |
Other Income |
2.611 |
1.004 |
2.611 |
|
5. |
Profit / (Loss) before Interest and Exceptional Items |
2.088 |
(13.159) |
15.323 |
|
6. |
Interest |
2.066 |
1.407 |
9.506 |
|
7. |
Profit / (Loss) from Ordinary Activities after Finance Costs but before Exceptional Items |
0.082 |
(14.566) |
5.817 |
|
8. |
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
9. |
Profit / (loss)
from Ordinary Activities before Tax |
0.082 |
(14.566) |
5.817 |
|
10. |
Tax Expense (including differed tax) |
0.095 |
1.828 |
1.813 |
|
11. |
Net Profit/ (Loss) from Ordinary Activities after Tax |
(0.013) |
(16.394) |
4.004 |
|
12 |
Extraordinary Items (Net of tax expenses) |
0.00 |
0.000 |
0.000 |
|
13 |
Net Profit/ (Loss)
for the period |
(0.013) |
(16.394) |
4.004 |
|
14. |
Paid-up Equity Share Capital |
30.897 |
30.897 |
30.897 |
|
15. |
Reserve excluding Revaluation Reserves as per Balance Sheet of Previous Accounting Year |
-- |
-- |
98.072 |
|
16. |
Earnings Per Share
(of Rs 10/- each) |
|
|
|
|
|
a) Basic and diluted EPS before extraordinary item for the period year to date previous year |
0.00 |
5.31 |
1.30 |
|
|
b) Basic and diluted EPS after extraordinary item for the period year to date previous year |
0.00 |
5.31 |
1.30 |
|
|
|
|
|
|
|
17 |
Public Shareholding |
|
|
|
|
|
- Number of Shares |
1644269 |
1664521 |
1644269 |
|
|
- Percentage of Shareholding |
53.22 |
53.87 |
53.22 |
|
18 |
Promoters and
Promoter Group Shareholding |
|
|
|
|
|
a) Pledged/
Encumbered |
|
|
|
|
|
- Number of Shares |
0.00 |
0.00 |
0.00 |
|
|
- Percentage of Shares (as a % of the total Shareholding of Promoter and Promoter Group) |
0.00 |
0.00 |
0.00 |
|
|
- Percentage of Shares (as a % of the total Share Capital of the Company) |
0.00 |
0.00 |
0.00 |
|
|
b) Non-Encumbered |
|
|
|
|
|
- Number of Shares |
1445431 |
1425179 |
1445.431 |
|
|
- Percentage of Shares (as a % of the total Shareholding of Promoter and Promoter Group) |
100.00 |
100.00 |
100.00 |
|
|
- Percentage of Shares (as a % of the total Share Capital of the Company) |
46.78 |
46.13 |
46.78 |
STANDALONE STATEMENT OF ASSETS AND LIABILITIES
(Rs.
in Millions)
|
Particulars |
31.03.2013 |
|
EQUITY AND
LIABILITIES |
|
|
SHAREHOLDERS'
FUNDS: |
|
|
(a) Capital |
30.897 |
|
(b) Reserves and Surplus |
98.072 |
|
(c) Money Received Against Snare Warrants |
0.000 |
|
Subtotal-
Shareholders' Fund |
128.969 |
|
SHARE APPLICATION MONEY PENDING ALLOTMENT |
0.000 |
|
NON - CURRENT
LIABILITIES |
|
|
(a) Long-Term Borrowings |
10.088 |
|
(b) Deferred Tax Liabilities (Net) |
2.991 |
|
(c) Other Long-Term Liabilities |
0.000 |
|
(d) Long-Term Provisions |
0.000 |
|
Subtotal- Non
Current Liabilities |
13.079 |
|
CURRENT LIABILITIES |
|
|
(a) Short-Term Borrowings |
32.956 |
|
(b) Trade Payables |
159.690 |
|
(c) Other Current Liabilities |
4.345 |
|
(d) Short-Term Provisions |
0.000 |
|
Subtotal- Current
Liabilities |
196.991 |
|
|
|
|
Total - Equity and
Liabilities |
|
|
|
|
|
ASSETS |
|
|
NON-CURRENT ASSETS |
|
|
(a) Fixed Assets |
72.897 |
|
(b) Non-Current Investment |
0.000 |
|
(c) Deferred Tax Assets (Not) |
0.000 |
|
(d) Long-Term Loans And Advances |
1.337 |
|
(c) Other Non-Current Assets |
1.707 |
|
Subtotal- Non
Current Assets |
75.941 |
|
CURRENT ASSETS |
|
|
(a) Current Investment |
0.000 |
|
(b) Inventories |
97.297 |
|
(c) Trade Receivables |
117.677 |
|
(d) Cash And Cash Equivalents |
25.625 |
|
(e) Short-term loans and advances |
0.300 |
|
(f) Other current assets |
22.199 |
|
Subtotal- Current
Assets |
263.098 |
|
|
|
|
Total - Assets |
339.039 |
STATEMENT OF APPROPRIATIONS
(Rs.
in Millions)
|
Particulars |
31.03.2013 |
|
1. Total Turnover
And Other Receipts |
710.480 |
|
2. Gross Profit: (Before Deducting Any Of The Following) |
17.737 |
|
(a) Interest |
9.506 |
|
(b) Depreciation |
2.415 |
|
(c) Tax Liability |
1.323 |
|
(d) Net Deferred Tax Liability |
0.489 |
|
(e) Preliminary Expenses w/off |
0.000 |
|
(f) Loss/(Profit) On Sale of Assets |
0.000 |
|
(g) Loss/(Profit) On sale of Investments |
0.000 |
|
3. Net Profit Available For Appropriation |
4.003 |
|
4. Provision-Investment Allowance Reserve |
0.000 |
|
5. Net Profit/Loss |
4.003 |
|
(a) Add/Less: |
|
|
b/f From Last Year's Balance |
94.069 |
|
(b) Other
Adjustments, If Any |
0.000 |
|
Less: Transferred
To |
|
|
(I) General Reserve |
0.000 |
|
(II) Debenture Redemption Reserve |
0.000 |
|
6. Dividend: |
|
|
(a) Per Ordinary Shares Rs. |
0.000 |
|
No, Of Shares |
3089700 |
|
(Last Year Rs. Nil Per Share) |
|
|
(b) Per Preference Shares Rs. |
0 |
|
No. of Shares |
0 |
|
7. Balance carried
forward |
98.072 |
NOTES:
1. The Above results were reviewed by the
Audit Committee of the Board of Directors.
2. The above results have been taken on
record by the board of Director at it meeting held on Thursday, 30 May 2013 at
the Corporate Office of the Company.
3. The above figures are after accounting
for a net foreign exchange loss of Rs.13.493 Millions during the year.
4. The figures of the quarter ended 31st
March 2013 and 31st March 2012 are the balancing figures between the
audited figures in respect of full financial years and the published
(unaudited) up to the third quarter of relevant financial year.
5. Information on investor complaints
pursuant to clause 41 of the listing agreement for the quarter ended 31 March,
2013
Opening Balance as on 31.12.2012
Received during the quarter
Disposed of during the quarter
Closing Balance as on 31.03.2013
6. The figures for the previous period have
been regrouped where necessary to conform to current period classification.
FIXED ASSETS:
Tangible Assets
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Vehicles
·
Office Equipments
Intangible Assets
·
Computer Software
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.63.06 |
|
|
1 |
Rs.101.15 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
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 |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.