|
Report Date : |
18.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
USV LIMITED |
|
|
|
|
Formerly Known
As : |
U.S. VITAMIN AND PHARMACEUTICAL CORPORATION (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Arvind Vithal Gandhi Chowk, BSD Marg, Govandi, Mumbai - 400088,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
25.08.1961 |
|
|
|
|
Com. Reg. No.: |
11-012098 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.999.669 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24239MH1961PLC012098 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMU00007A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACU1366N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Selling of Active Pharmaceutical Ingredient (API),
Finished Dosages and Generics. |
|
|
|
|
No. of Employees
: |
600 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (68) |
|
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 5020000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a joint venture with USV and P INC. USA, a subsidiary of
Revlon. It is a well-established and reputed company having fine track record.
The rating reflect the company’s robust market position in the
fast-growing theraprutic segment in the domestic formulations market and
strong financial risk profile, marked by healthy operating profitability,
negligible debt, and strong liquidity. Directors are reported to be experienced and respectable businessmen. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for normal business dealings 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 |
CRISIL |
|
Rating |
Long term rating AA+ |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
July 31, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating A1+ |
|
Rating Explanation |
Very strong degree at safety and lowest credit
risk. |
|
Date |
July 31, 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 (GENERAL DETALIS)
|
Name : |
Mr. Mukesh |
|
Designation : |
Account Department |
|
Contact No.: |
91-22-2564048 |
|
Date : |
15.11.2013 |
LOCATIONS
|
Registered / Corporate Office : |
Arvind Vithal Gandhi Chowk, BSD Marg, Govandi, Mumbai - 400088,
Maharashtra, India |
|
Tel. No.: |
91-22-25564048/ 4049/
4050/ 4051/ 2225/ 25559915/ 25581118/ 67861111 |
|
Fax No.: |
91-22-25515608/
25584025 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
MIDC, Lote Industrial Area, Khed, Ratnagiri, OIDC, Dabhel, Daman,
HPSIDC, Baddi, Himachal Pradesh, India |
|
|
|
|
Factory 2 : |
Plot No. B-1 / 8, M.I.D.C. Lote Industrial Area, Taluka Khed,
Ratnagiri, |
|
Tel. No.: |
91-2356-272242 |
|
Fax No.: |
91-2356-272402 |
|
|
|
|
Factory 3: |
OIDC, Dabhel, Daman, Daman and Diu, India |
|
|
|
|
Factory 4: |
Hilltop Industrial, Area, Jhar Majri, Baddi, Himachal Pradesh, India |
DIRECTORS
As on 25.09.2013
|
Name : |
Mrs. Leena Gandhi Tewari |
|
Designation : |
Director |
|
Address : |
41, Ritu Apartments, 208, B.J. Road, Bandra (West), Mumbai-400050,
Maharashtra, India |
|
Date of Birth/Age : |
09.03.1957 |
|
Qualification : |
MBA, Boston University, USA B. Com. |
|
Date of Appointment : |
20.01.1986 |
|
DIN No.: |
00001748 |
|
|
|
|
Name : |
Mr. Prashant Kumar Tewari |
|
Designation : |
Managing director |
|
Address : |
41, Ritu Apartments, 208, B J Road, Bandra ( West), Mumbai-400050,
Maharashtra, India |
|
Date of Birth/Age : |
09.04.1958 |
|
Qualification : |
MS, B. Tech IIT- Kanpur |
|
Date of Appointment : |
01.05.2008 |
|
DIN No.: |
00001745 |
|
|
|
|
Name : |
Debabrata Sujit Gupta |
|
Designation : |
Whole-time director |
|
Address : |
B-804, Etrnai, Hiranandani Gardens, Powai, Mumbai - 400076,
Maharashtra, India |
|
Date of Birth/Age : |
19.02.1963 |
|
Qualification : |
B. Tech.(Chemistry)-IIT Kharagpur |
|
Date of Appointment : |
19.09.2008 |
|
DIN No.: |
01500784 |
|
|
|
|
Name : |
Mr. Deepak Keshav Ghaisas |
|
Designation : |
Director |
|
Address : |
B 61/62, Swapnashilp Apartments, Mahant Road, Vile Parle (East),
Mumbai-400057, Maharashtra, India |
|
Date of Birth/Age : |
19.11.1957 |
|
Qualification : |
CA, CS and ICWA |
|
Date of Appointment : |
23.08.2003 |
|
DIN No.: |
00001811 |
|
|
|
|
Name : |
Mr. Debabrata Bhadury |
|
Designation : |
Director |
|
Address : |
9-A, Belvedere Court, Sane Guruji Marg, Mahalaxmi, Mumbai - 400011,
Maharashtra, India |
|
Date of Birth/Age : |
20.11.1941 |
|
Qualification : |
MA (Economics) |
|
Date of Appointment : |
01.05.2001 |
|
DIN No.: |
00001754 |
|
|
|
|
Name : |
Murugappan Muthiah Venkatachalam |
|
Designation : |
Director |
|
Address : |
20/1, Valliammai Achi Road, Kottupuram, Chennai - 600085, Tamilnadu,
India |
|
Date of Birth/Age : |
24.11.1958 |
|
Qualification : |
MBA, Washington University, USA |
|
Date of Appointment : |
31.07.2006 |
|
DIN No.: |
00152619 |
|
|
|
|
Name : |
Mr. Vilas Gandhi Tewari |
|
Designation : |
Director |
|
Address : |
5416, Fair Ave Apartment, 1321, N Hollywood, CA USA 91601 |
|
Date of Birth/Age : |
24.03.1984 |
|
Date of Appointment : |
27.09.2012 |
|
DIN No.: |
05354249 |
KEY EXECUTIVES
|
Name : |
Mr. Tanmay Anand Joshi |
|
Designation : |
Secretary |
|
Address : |
1/23, Radha Krishna Nivas, |
|
Date of Birth/Age : |
20.01.1983 |
|
Date of Appointment : |
05.06.2009 |
|
PAN No.: |
AGWPJ8684G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.09.2013
|
Names of Shareholders |
No. of Shares |
|
Leena Gandhi Tewari |
91287618 |
|
Aneesha Gandhi Tewari |
11106 |
|
Treva Health Care Private Limited, India |
5553 |
|
Vipal Health Care Private Limited, India |
5553 |
|
USV Reliable Homes Private Limited, India |
7404 |
|
Leena Gandhi Tewari Jointly with Prashant Tewari |
5395665 |
|
Prashant Tewari Jointly with Leena Gandhi Tewari |
3041193 |
|
Prashant Tewari |
201759 |
|
Neo-Pharma Industries Private Limited, India |
11106 |
|
TOTAL |
99966957 |
As on 25.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Selling of Active Pharmaceutical Ingredient (API),
Finished Dosages and Generics. |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Products : |
|
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Exports : |
|
||||||||||||||||||||
|
Products : |
Finished Goods |
||||||||||||||||||||
|
Countries : |
v US v Kenya v Europe v Uganda v Cambodia v Vietnam v Ukraine |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Terms : |
|
||||||||||||||||||||
|
Selling : |
L/C and Credit |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
||||||||||||
|
|
|
||||||||||||
|
No. of Employees : |
600 (Approximately) |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Ø Axis Bank
Limited, Trishul 3rd Floor Opposite Samartheshwar Temple, Law Garden
Ellisbridge, Ahmedabad - 380006, Gujarat, India Ø State Bank of
India, Mid Corporate Loan, Administrative Unit, Shree Hari Building, RTO
Lane, Four Bunglows, Andheri (West), Mumbai-400053, Maharashtra, India [Tel
No.: 91-22-26356729] Ø
Standard
Chartered Grindlays Bank Limited, Dr. D. N. Road, Mumbai-400001, Maharashtra,
India Ø
The
Saraswat Co-operative Bank Limited, Mumbai, Maharashtra, India Ø Canara Bank Ø Vietcom Bank Ø JSC Bank Ø Swed Bank |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Associates Chartered Accountants |
|
Address : |
Lodha Excelus, 1st
Floor, Apollo Mills Compound, NM Marg, Mahalaxmi, Mumbai 400011, Maharasthra,
India |
|
PAN
No. : |
AADFB6889R |
|
|
|
|
Internal Auditor
: |
|
|
Name : |
A P R Associates Chartered Accountants |
|
|
|
|
Cost Auditor : |
|
|
Name : |
Sevekari, Khare and Associates Cost Accountants |
|
|
|
|
Associates : |
Ø Treva Health
Care Private Limited Ø Vipal Health
Care Private Limited Ø Tender Remedies Ø Business Link
Automation (India) Limited Ø Vital Pharmacal
Private Limited Ø Neo Pharma
Industries Private Limited Ø Chronomed Health
Care Private Limited Ø USV Reliable
Homes Private Limited |
|
|
|
|
Subsidiaries : |
Ø USV North
America Inc Ø Indicus Pharma
LLC Ø USV Europe
Limited Ø USV Labs Limited
[U24232MH2010PLC20537] |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125000000 |
Equity Shares |
Rs.10/- each |
Rs.1250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
99966957 |
Equity Shares |
Rs.10/- each |
Rs.999.669 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
999.669 |
999.669 |
999.669 |
|
(b) Reserves & Surplus |
11505.741 |
9772.418 |
9070.135 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
12505.410 |
10772.087 |
10069.804 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
8.799 |
19.765 |
25.817 |
|
(b) Deferred tax liabilities (Net) |
178.549 |
121.089 |
177.428 |
|
(c) Other long term
liabilities |
0.000 |
59.876 |
0.246 |
|
(d) long-term
provisions |
851.866 |
709.438 |
557.070 |
|
Total Non-current
Liabilities (3) |
1039.214 |
910.168 |
760.561 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
1807.587 |
1748.827 |
1639.851 |
|
(c) Other
current liabilities |
453.126 |
492.920 |
95.754 |
|
(d) Short-term
provisions |
3907.549 |
3079.537 |
2317.370 |
|
Total Current
Liabilities (4) |
6168.262 |
5321.284 |
4052.975 |
|
|
|
|
|
|
TOTAL |
19712.886 |
17003.539 |
14883.340 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
3668.004 |
3392.032 |
3479.359 |
|
(ii)
Intangible Assets |
98.512 |
110.773 |
128.625 |
|
(iii)
Capital work-in-progress |
511.061 |
591.331 |
237.805 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2.297 |
2.297 |
2.298 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1967.003 |
1285.932 |
1054.313 |
|
(e) Other
Non-current assets |
176.996 |
202.931 |
0.000 |
|
Total Non-Current
Assets |
6423.873 |
5585.296 |
4902.400 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
6764.415 |
6105.423 |
4862.312 |
|
(b)
Inventories |
1625.971 |
1493.139 |
1316.962 |
|
(c) Trade
receivables |
1739.086 |
1477.302 |
1528.678 |
|
(d) Cash
and cash equivalents |
511.528 |
404.677 |
1008.720 |
|
(e)
Short-term loans and advances |
2436.637 |
1511.397 |
1264.268 |
|
(f) Other
current assets |
211.376 |
426.305 |
0.000 |
|
Total
Current Assets |
13289.013 |
11418.243 |
9980.940 |
|
|
|
|
|
|
TOTAL |
19712.886 |
17003.539 |
14883.340 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
16888.835 |
14472.621 |
11561.982 |
|
|
|
Other Income |
594.718 |
642.243 |
471.958 |
|
|
|
TOTAL |
17483.553 |
15114.864 |
12033.940 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
3523.216 |
3195.140 |
2534.104 |
|
|
|
Purchases of stock-in-trade |
2412.336 |
1991.741 |
1505.726 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(63.152) |
(72.008) |
(144.486) |
|
|
|
Employee benefit expense |
1547.321 |
1477.249 |
937.310 |
|
|
|
Other expenses |
5256.232 |
4506.182 |
3879.488 |
|
|
|
TOTAL |
12675.953 |
11098.304 |
8712.142 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
4807.600 |
4016.560 |
3321.798 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.065 |
0.239 |
3.785 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
4807.535 |
4016.321 |
3318.013 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
725.556 |
639.566 |
646.334 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
4081.979 |
3376.755 |
2671.679 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
375.772 |
552.106 |
124.022 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
3706.207 |
2824.649 |
2547.657 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
37.07 |
28.26 |
25.48 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
21.20
|
18.69 |
21.17 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
24.17
|
23.33 |
23.11 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.26
|
20.578 |
18.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33
|
0.31 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.15
|
2.14 |
2.46 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
Current maturities of long-term debt |
10.965 |
6.052 |
7.997 |
|
|
|
|
|
|
Total |
10.965
|
6.052 |
7.997 |
|
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 |
----- |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Deffered sales tax loan |
8.799 |
13.505 |
|
|
|
|
|
Total |
8.799 |
13.505 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10301593 |
21/07/2011 |
800,000,000.00 |
Axis Bank Limited |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE,
LAW GARDEN ELLISBRIDGE, AHMEDABAD, Gujarat - 380006, INDIA |
B18571943 |
|
2 |
10302134 |
21/07/2011 |
800,000,000.00 |
Axis Bank Limited |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR
TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, Gujarat - 380006, INDIA |
B18571935 |
|
3 |
80053216 |
21/10/2013 * |
390,000,000.00 |
State Bank of India |
Mid Corporate Loan Adm.Unit, Shree Hari
Bldg., RTO Lane, Four Bunglows, Andheri (West), Mumbai, Maharashtra - 400053,
INDIA |
B88513148 |
* Date of charge modification
CORPORATE
INFORMATION
The Company is a
public company domiciled in India and incorporated under the provision of the
Companies Act, 1956. Its shares are not listed on any stock exchange in India. The
company is engaged in the manufacturing and selling of Active Pharmaceutical
Ingredient (API), finished dosages and generics. The Company is admired in
India for leadership in diabetes and cardio-vascular space, as well as strong
brands in other segments.
FIXED ASSETS
Ø Land – Freehold
Ø Land – Leasehold
Ø Factory Building
Ø Residential Buildings
Ø Office Premises
Ø Plant and Machinery
Ø Office Equipments
Ø Furniture and Fixtures
Ø Vehicles
Ø Computers
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.63.05 |
|
|
1 |
Rs.101.45 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
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 |
|
68 |
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.