MIRA INFORM REPORT
|
Report Date : |
18.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
RAJASTHAN ANTIBIOTICS LIMITED (w.e.f. 06.03.1989) |
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|
|
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Formerly Known
As : |
CEPHAM MEDICAL LIMITED CEPHAM MEDICAL LEASING LIMITED |
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Registered
Office : |
M-134, Connaught Circus, New Delhi – 110001 |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
17.03.1986 |
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Com. Reg. No.: |
55-023616 |
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Capital Investment
/ Paid-up Capital : |
Rs.52.758
Millions |
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CIN No.: [Company Identification
No.] |
U24231DL1986PLC023616 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELR11698B |
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PAN No.: [Permanent Account No.] |
AAACR0925L |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in Manufacturing of Bulk Drugs and Manufacturing
cum Trading of Milk and Herbal Products. |
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No. of Employees
: |
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.
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.
LOCATIONS
|
Registered Office : |
M-134, Connaught Circus, New Delhi – 110001, India |
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Tel. No.: |
91-11-43561740/ 41/ 42/ 47666106/ 47666111/ 26616318 |
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Fax No.: |
91-11-43561743 |
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E-Mail : |
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Website : |
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Corporate Office : |
M-39, Connaught Circus, New Delhi – 110001, India |
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Factory : |
Plot A-619 and 630, RICO Industrial Area, Bhiwadi – 301019, District
Alwar, Rajasthan, India |
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Tel No.: |
91-1493-222278/ 512251/ 512378 |
DIRECTORS
(AS ON 20.09.2012)
|
Name : |
Mr. Ashish Pruthi |
|
Designation : |
Chairman Cum Managing Director |
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Address : |
M – 255, Greater Kailash – II, |
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Date of Birth/Age : |
19.08.1976 |
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Date of Appointment : |
01.04.2010 |
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PAN No : |
AMIPP4490P |
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DIN No : |
01182469 |
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Email : |
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Name : |
Mr. Rakesh Kumar Girdhar |
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Designation : |
Director |
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Address : |
D-15/4, First Floor, |
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Date of Birth/Age : |
30.11.1962 |
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Date of Appointment : |
01.11.2008 |
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DIN No.: |
02380490 |
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Name : |
Mr. Gian Chand Sharma |
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Designation : |
Director |
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Address : |
Village and Post Office Gandhir Bilaspur – 174029, Himachal Pradesh,
India |
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Date of Birth/Age : |
20.09.1969 |
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Date of Appointment : |
12.09.2011 |
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DIN No : |
00549491 |
KEY EXECUTIVES
|
Name : |
Mr. Vipul Garg |
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Designation : |
Company Secretary |
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Address : |
88/3, Near |
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Date of Birth/Age : |
23.08.1987 |
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Date of Appointment : |
06.09.2010 |
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PAN No : |
ANIPG113B |
MAJOR SHAREHOLDERS/ SHAREHOLDING PATTERN
(AS ON 20.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
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Arviv Lifesciences Private Limited, |
|
1344684 |
|
Ashish Pruthi |
|
900 |
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Radhika Pruthi |
|
500 |
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Manvin Heath Private Limited, |
|
1343184 |
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Barfani Baba Pharma Private Limited, |
|
2583397 |
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Ashish Prutyhi and Sons (HUF) |
|
100 |
|
Meera Pruthi |
|
3000 |
|
|
|
|
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Total |
|
5275765 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
99.91 |
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Directors or relatives of directors |
|
0.09 |
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|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing of Bulk Drugs and manufacturing cum
trading of Milk and Herbal Products. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
· Industrial Development Bank of India Jeevan Nidhi Building, LIC Complex, Ambedkar Circle, Bhawani Singh
Road, Jaipur – 302 001, Rajasthan, India · HDFC Bank Limited · State Bank of Bikaner and Jaipur 16/67-68, Faiz Road, Karol Bagh, New Delhi – 110005, India · State Bank of Hyderabad Flat No.110, Suryakiran Building, 19 KG Marg, New Delhi – 110 001, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
J. P. Chawla and Company Chartered Accountants |
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Address : |
43, Dariya Ganj, |
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PAN No.: |
AAAFJ1213J |
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Other Related
Parties : |
·
Cepham Milk Specialities Limited CIN No.: L15203PB1991PLC019162 ·
Cebon India Limited CIN No.: U24232HR1988PLC030362 ·
Cepham Laboratories Limited CIN No.: U24230DL1977PLC008694 ·
Cepham Organics Limited CIN No.: U24239DL1984PLC018500 ·
Amos Biosciences Private Limited CIN No.: U52310DL2009PTC189924 ·
Arviv Life Sciences Private Limited CIN No.: U52100DL2009PTC194061 ·
Manvin Health Private Limited CIN No.: U52300DL2009PTC189964 ·
Barfani Baba Pharma Private Limited CIN No.: U52602DL2009PTC192681 ·
Revivaa Biotech Private Limited CIN No.: U52100DL2010PTC201633 ·
Cepham Agencies Private Limited CIN No.: U24232DL1983PTC015187 ·
D.P. Towers Private Limited CIN No.: U45201DL1987PTC027884 |
CAPITAL STRUCTURE
(AS ON 20.09.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 Millions |
|
600000 |
Redeemable Preference Shares |
Rs.100/- each |
Rs.60.000 Millions |
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|
|
|
|
|
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Total |
|
Rs.120.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5275765 |
Equity Shares |
Rs.10/- each |
Rs.52.758
Millions |
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|
|
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
52.758 |
52.758 |
47.758 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
177.484 |
114.842 |
48.736 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
230.242 |
167.600 |
96.494 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
5.123 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
5.123 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.042 |
|
|
|
|
|
|
|
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TOTAL |
230.242 |
172.723 |
96.536 |
|
|
|
|
|
|
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
102.069 |
80.427 |
67.155 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
1.536 |
0.479 |
0.000 |
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
67.564
|
66.713
|
26.300 |
|
|
Sundry Debtors |
103.874
|
87.596
|
51.371 |
|
|
Cash & Bank Balances |
33.501
|
16.632
|
15.236 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
80.746
|
47.832
|
21.030 |
|
Total
Current Assets |
285.685
|
218.773
|
113.937 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
26.486
|
24.120
|
26.247 |
|
|
Other Current Liabilities |
79.008
|
65.934
|
46.915 |
|
|
Provisions |
53.554
|
36.902
|
11.394 |
|
Total
Current Liabilities |
159.048
|
126.956
|
84.556 |
|
|
Net Current Assets |
126.637
|
91.817
|
29.381 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
230.242 |
172.723 |
96.536 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
784.657 |
553.955 |
229.295 |
|
|
|
Other Income |
2.650 |
4.215 |
1.460 |
|
|
|
TOTAL (A) |
787.307 |
558.170 |
230.755 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption Materials Changed Inventories |
532.874 |
333.321 |
|
|
|
|
Manufacturing Services costs |
81.152 |
80.387 |
|
|
|
|
Employee Related Expenses |
16.306 |
13.264 |
|
|
|
|
Administrative, Selling and Other Expenses |
40.884 |
47.273 |
|
|
|
|
Research Development Expenditure |
18.267 |
2.703 |
|
|
|
|
Prior Period Items |
0.871 |
0.169 |
|
|
|
|
TOTAL (B) |
690.354 |
477.117 |
203.971 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
96.953 |
81.053 |
26.784 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.844 |
2.357 |
0.385 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
92.109 |
78.696 |
26.399 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8.367 |
7.603 |
6.774 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
83.742 |
71.093 |
19.625 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
21.222 |
24.987 |
5.835 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
62.520 |
46.106 |
13.790 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
72.492 |
26.386 |
12.596 |
|
|
|
|
|
|
|
|
|
|
AMOUNT AVAILABLE
APPROPRIATIONS |
0.122 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
135.134 |
72.492 |
26.386 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
124.224 |
118.397 |
35.337 |
|
|
TOTAL EARNINGS |
124.224 |
118.397 |
35.337 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Goods for processing / Resale |
NA |
128.158 |
3.560 |
|
|
TOTAL IMPORTS |
NA |
128.158 |
3.560 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
11.85 |
8.74 |
2.89 |
|
%2018-Nov-2013_files/image001.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
7.94
|
8.26
|
5.98 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.67
|
12.83
|
8.56 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.60
|
23.76
|
10.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.36
|
0.42
|
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.03
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.80
|
1.72
|
1.35 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS REGARDING MANAGEMENT DISCUSSION AND ANALYSIS
The company has recorded
sales revenue and other income of Rs.808.900 Millions against Rs.555.100
Millions in the previous year. It represents a growth of 46% over preceding
year. Further the company has registered an export of Rs.124.200 Millions as
compared to Rs.118.400 Millions in the previous year. The Management’s
aggressive strategy of focusing on improving business and operational
performance has borne fruits. The operations of the company are steadily
improving and company is looking forward to healthy revenue and numbers profit
in the coming years. The company earned Profit before tax of Rs.84.600 Millions
against Rs.71.300 Millions earned in the previous financial year showing an
increase of 13.300 Millions. After providing for taxation of Rs.22.300 Millions
(previous year Rs. 25.500 Millions), net profit worked out to Rs.62.500
Millions as compared to Rs.46.100 Millions in the previous year registering an
increase of Rs.16.400 Millions and representing a growth of 36% over the
preceding year. The company is steadily moving on high growth trajectory and
shall continue its journey of profitable growth.
CONTINGENT
LIABILITIES: (AS ON 31.03.2011)
The Company has
given a corporate guarantee amounting to Rs. NIL
The Company has
executed a B-1 Bond for Rs.10.000 Millions in favor of Central Excise Range III
Dhaba Complex Bhiwadi, Rajasthan.
The Company has
given margin money against Bank Guarantee of Rs.0.162 Million to the Excise and
Taxation Commissioner of Derabassi.
FORM 8
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10174483 |
|
Corporate
identity number of the company |
U24231DL1986PLC023616 |
|
Name of the
company |
RAJASTHAN
ANTIBIOTICS LTD |
|
Address of the registered
office or of the principal place of
business in |
M- 134, Connaught
Circus, New Delhi – 110001, India |
|
Type of charge |
Immovable property Book Debts Movable Property Floating Charge Others: Entire current assets including all kinds of stock |
|
Particular of
charge holder |
State Bank of
Bikaner & Jaipur 16/67-68, Faiz
Road, Karol Bagh, New Delhi – 110005, India |
|
Nature of
description of the instrument creating or modifying the charge |
1. Joint deed of
Hypothecation (Form CF-2) 2. Working
Capital Consortium Agreement 3. Deed of
Hypothecation of movable assets forming part of fixed/block assets 4. Annexure 10
for creation of Equitable Mortgage |
|
Date of
instrument Creating the charge |
21/01/2013 |
|
Amount secured by
the charge |
Rs.318.800
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest On CC - 4.00%
above base rate i.e. 14.25% (floating) p.a. On Term Loan-I:
5.50% above base rate i.e. 15.75% (floating) p.a. On Term Loan-II:
4.50% above base rate i.e. 14.75% (floating) p.a. Terms of
Repayment CC-Payable on
demand Term Loan-I:
repayable in 12 equal quarterly installments w.e.f. April 2012 Term Loan-II:
repayable in 12 equal quarterly installments w.e.f. December 2013 Margin On CC : Stock-25%,
Book Debts-45% On Term Loan-I:
41.67% On Term Loan-II:
34.93% Extent and
Operation of the charge 100% Others This is to secure
various fund based and non fund based limits aggregating Rs.318.800 Millions
in consortium. |
|
Short particulars
of the property charged |
Working capital
facilities aggregating Rs.200.000 Millions are secured by First pari passu
charge by way of hypothecation of entire current assets of the company
including raw materials, finished goods, semi finished goods, stores and
spares and book debts and other current assets and 2nd pari-passu charge on
entire fixed assets of the company (present and future) including equitable
mortgage of land and building situated at plot no. A-619 and 630, RIICO
Industrial Area, Distt. Alwar, Bhiwadi (Rajasthan) – 301019. Term Loans
aggregating Rs.118.800 Millions are secured by first pari passu charge on
entire fixed assets of the company including plant and machinery (both
present and future) and other fixed assets (both present and future)
including Plant and Machinery and other equipments procured out of Bank's
Term Loans and equitable mortgage of land and building situated at Plot No.
A-619 and 630, RIICO Industrial Area, District Alwar, Bhiwadi (Rajasthan) -301019 present
and future on first pari-passu charge basis with SBH. Term loans are
also secured by 2nd pari-passu charge on entire current assets of the
company. Above mentioned
securities are also covers the working capital facilities aggregating
Rs.200.000 Millions granted to the company by the consortium member banks as
collateral. |
|
Date of latest
modification prior to the present modification |
14/09/2011 |
|
Particulars of
the present modification |
First Pari-passu
charge has been extended for the credit facilities granted to the company
from Rs.251.100 Millions to Rs.318.800 Millions on entire current assets of
the company including Raw Material, Finished goods, semi-finished goods,
store and spares and Book debts and entire fixed assets including Plant and
Machinery, present and future and Equitable Mortgage of immovable property of
the company as collateral. Other Terms and
Conditions remain the same. |
FIXED ASSETS:
· Land
·
· Plant and Machinery
· Furniture and Fixture
· Office Equipment
· Data Processing Machine
· Motor 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 records 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] 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
|
Report Prepared
by : |
NTH |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.