MIRA INFORM REPORT
|
Report Date : |
31.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
MSN LABORATORIES PRIVATE LIMITED (w.e.f.27.02.2013) |
|
|
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|
Formerly Known
As : |
MSN LABORATORIES LIMITED |
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Registered
Office : |
MSN House, Plot No.C-24, Sanath Nagar Industrial Estate, Sanath Nagar,
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
27.08.2003 |
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Com. Reg. No.: |
01-041583 |
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Capital
Investment / Paid-up Capital : |
Rs.52.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24239AP2003PTC041583 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDM02459C |
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PAN No.: [Permanent Account No.] |
AADCM6283F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Pharmaceutical Bulk Drugs and Organic Intermediates Salmetrol, Rosuvastatin Calcium, Ezetimibe etc |
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|
|
|
No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
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 8222000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having fine track record. The
company has achieved increase in its sales turnover and profitability during 2012.
Financial position of the company appears to be sound. Directors are reported
to be well experienced and knowledgeable businessmen. Trade relations are reported as trustworthy. Business is active.
Payments are reported to be regular and as per commitments. The company can be considered good for 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.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL SME |
|
Rating |
SME1 |
|
Rating Explanation |
Highest credit quality and negligible credit
risk. |
|
Date |
30.11.2012 |
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.
LOCATIONS
|
Registered
Office / Corporate Office: |
MSN House, Plot No.C-24, Sanath Nagar Industrial Estate, Sanath Nagar,
Hyderabad – 500 018, Andhra Pradesh, India |
|
Tel. No.: |
91-40-30438600 |
|
Fax No.: |
91-40-30438638 / 30438643 / 30438719 |
|
E-Mail : |
|
|
Website : |
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|
|
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Factory 1 : |
SY No 317 and 323, Rudraram Village, Patancheru Mandal, Medak – 502
329, Andhra Pradesh, India |
|
Tel. No.: |
91-84-55 220372 |
|
Fax No.: |
91-84-58 279938 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
Plot No.42, Anrich Industrial Estate, Bollarum, Medak – 502 325,
Andhra Pradesh, India |
|
Tel No.: |
91-84-58 279936 /37 |
|
Fax No.: |
91-84-58 279938 |
|
Email: |
formulation_at_msnlabs.com
|
|
|
|
|
Factory 3 : |
SYS No. 14, Gaddapotharam Village, Jinnaram Mandal, Medak – 502 319
District, Andhra Pradesh, India |
|
Tel. No.: |
91-8458-277090 |
|
Fax No.: |
91-8458-277085 |
|
|
|
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Factory 4 : |
Sy No-50, Kardanur (V), Patancheru (M), Medak – 502 300, Andhra Pradesh,
India |
|
Tel. No.: |
91-08458-331200 |
|
Email: |
api_at_msnlabs.com (replace _at_ with @ before emailing) |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Dr. Manne Satyanarayana Reddy |
|
Designation : |
Managing Directors |
|
Address : |
8-3-167/D/16, Kalyan Nagar, Phase – I, Near A. G. Colony, Hyderabad – 500 038, Andhra Pradesh, India |
|
Date of Birth/Age : |
18.04.1957 |
|
Date of Appointment : |
27.08.2003 |
|
DIN No.: |
01657567 |
|
|
|
|
Name : |
Mrs. Manne Laxmi Prasuna |
|
Designation : |
Directors |
|
Address : |
8-3-167/D/16, Kalyan Nagar, Phase – I, Near A. G. Colony, Hyderabad – 500 038, Andhra Pradesh, India |
|
Date of Birth/Age : |
06.08.1968 |
|
Date of Appointment : |
27.08.2003 |
|
DIN No.: |
00954334 |
|
|
|
|
Name : |
Mr. Bharat Chintapally Bharat |
|
Designation : |
Directors |
|
Address : |
8-3-167/D/16, Kalyan Nagar, Phase – I, Near A. G. Colony, |
|
Date of Birth/Age : |
30.06.1969 |
|
Date of Appointment : |
01.02.2007 |
|
DIN No.: |
01591473 |
MAJOR SHAREHOLDERS
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Manne Satyanarayana Reddy |
2526800 |
|
Manne Laxmi Prasuna |
427800 |
|
Manne Venkat Ram Reddy |
120000 |
|
Thatikonda Seetha |
1000 |
|
Thatikonda Srinivas |
1000 |
|
Chintapally Anjani |
1000 |
|
Chintapally Janardhan Reddy |
132000 |
|
Manne Venkat Pratap Reddy |
124000 |
|
Manne Jeevan Reddy |
120000 |
|
Manne Srinivasa Reddy |
120000 |
|
Manne Nirmala Devi |
66000 |
|
Manne Geetha |
55000 |
|
Thatikonda Sreedhar Reddy |
1000 |
|
Srinivasan Tirumalarajan |
72000 |
|
Sajja Eswaraiah |
72000 |
|
Challa N.V. Ravi Kumar |
72000 |
|
Muppa Kishore Kumar |
72000 |
|
Chintapally Bharat Reddy |
700000 |
|
Manne Madhavi |
1200 |
|
Thatikonda Varalakshmamma |
1000 |
|
Chintapally Vasudha |
1000 |
|
Thatikonda Raja Reddy |
1000 |
|
Manne Swathi |
1200 |
|
Chakilam Nagaraju |
456000 |
|
Manne Shrawya Reddy |
55000 |
|
|
|
|
Total |
5200000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
88.22 |
|
Other top fifty shareholders |
17.78 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Pharmaceutical Bulk Drugs and Organic Intermediates Salmetrol, Rosuvastatin Calcium, Ezetimibe etc |
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|
Products : |
|
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
APIs and Intermediates |
Kgs. |
38000 |
37740 |
|
Formulations* [Tablets and Capsules] |
Nos. in Millions |
450 |
305561 |
NOTE:
- Installed capacities as certified by
the management but not verified by the auditors.
- * Sale quantities are after adjustment
of samples.
GENERAL INFORMATION
|
No. of Employees : |
60 (Approximately) |
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Bankers : |
·
Axis Bank Limited, Corporate Banking Branch, 1st
Floor, Pullareddy Buildings, Greenlands, Begumpet, Hyderabad – 500 016,
Andhra Pradesh, India ·
ICICI Bank Limited, Landmark Race Cource Circle,
Alkapuri, Baroda – 390 015, Gujarat, India |
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Facilities : |
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Banking
Relations : |
-- |
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|
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|
Financial Institution : |
3i Infotech
Trusteeship Services Limited, 3rd To 6th Floor, International
Infotech Park, Tower No.5, Vashi Railway Station Complex, Vashi, Navi Mumbai
- 400703, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
B.R.M. Reddy and Company Chartered Accountants |
|
Address : |
Lane Adj. To ITC Kakatiya, China Balreddy Building, Begumpet – 500
016, Hyderabad, India |
|
Pan No.: |
AADFB7698A |
|
|
|
|
Associates : |
·
MSN Pharmachem Private Limited ·
Maithri Laboratories Private Limited ·
MSN Organics Private Limited ·
MSN Research and Development Private Limited |
CAPITAL STRUCTURE
AS ON 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs. 10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5200000 |
Equity Shares |
Rs. 10/- each |
Rs.52.000 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 |
|
52.000 |
52.000 |
|
(b) Reserves & Surplus |
|
2003.685 |
1060.709 |
|
(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) |
|
2055.685 |
1112.709 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
7.709 |
9.818 |
|
(b) Deferred tax liabilities (Net) |
|
114.380 |
73.459 |
|
(c) Other long term
liabilities |
|
9.259 |
8.159 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
131.348 |
91.436 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
460.523 |
348.773 |
|
(b) Trade
payables |
|
1153.671 |
1304.241 |
|
(c) Other
current liabilities |
|
85.902 |
121.887 |
|
(d) Short-term
provisions |
|
24.512 |
75.199 |
|
Total Current
Liabilities (4) |
|
1724.608 |
1850.100 |
|
|
|
|
|
|
TOTAL |
|
3911.641 |
3054.245 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
1168.545 |
881.833 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
386.247 |
93.127 |
|
(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 |
|
175.788 |
404.246 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
1730.580 |
1379.206 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
684.159 |
401.052 |
|
(c) Trade
receivables |
|
1199.718 |
1079.477 |
|
(d) Cash
and cash equivalents |
|
66.417 |
30.286 |
|
(e)
Short-term loans and advances |
|
230.767 |
164.224 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
2181.061 |
1675.039 |
|
|
|
|
|
|
TOTAL |
|
3911.641 |
3054.245 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
52.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
491.715 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
543.715 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
477.151 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
477.151 |
|
|
DEFERRED TAX LIABILITIES |
|
|
37.354 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1058.220 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
484.764 |
|
|
Capital work-in-progress |
|
|
53.017 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
340.169
|
|
|
Sundry Debtors |
|
|
763.915
|
|
|
Cash & Bank Balances |
|
|
7.214
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
124.372
|
|
Total
Current Assets |
|
|
1235.670 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
687.818
|
|
|
Other Current Liabilities |
|
|
20.840
|
|
|
Provisions |
|
|
6.573
|
|
Total
Current Liabilities |
|
|
715.231 |
|
|
Net Current Assets |
|
|
520.439 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1058.220 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3896.458 |
3125.325 |
2125.342 |
|
|
|
Other Income |
53.337 |
31.673 |
12.686 |
|
|
|
TOTAL (A) |
3949.795 |
3156.998 |
2138.028 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption Materials Changes Inventories |
|
1613.828 |
1236.189 |
|
|
|
Manufacturing Service Costs |
|
154.245 |
102.987 |
|
|
|
Employee Related Expenses |
|
172.827 |
123.693 |
|
|
|
Administrative Selling Others Expenses |
|
230.674 |
147.233 |
|
|
|
Research Development Expenditure |
|
79.678 |
56.380 |
|
|
|
TOTAL (B) |
2486.517 |
2251.252 |
1666.482 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1463.278 |
905.746 |
471.545 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
48.850 |
33.490 |
45.610 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1414.428 |
872.256 |
425.935 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
55.414 |
30.495 |
19.339 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
1359.014 |
841.761 |
406.596 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
397.908 |
254.516 |
140.811 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
961.106 |
587.245 |
265.785 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1001.986 |
491.715 |
238.097 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend |
|
|
10.400 |
|
|
|
Tax on Dividend |
|
|
1.767 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
1001.986 |
491.715 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
2234.012 |
11349.782 |
|
|
|
Other Earnings |
|
4.072 |
4.002 |
|
|
TOTAL EARNINGS |
NA |
2238.084 |
11353.784 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
212.546 |
168.624 |
|
|
|
Stores & Spares |
|
47.679 |
0.000 |
|
|
|
Capital Goods |
|
0.553 |
10.489 |
|
|
TOTAL IMPORTS |
NA |
260.778 |
179.113 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
184.83 |
112.93 |
51.11 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
24.33
|
18.60
|
12.43
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
34.88
|
26.93
|
19.13
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
40.57
|
32.92 |
23.63 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.66
|
0.76 |
0.75 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.23
|
0.32 |
0.88 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26
|
0.91 |
1.73 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
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 |
---------- |
|
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 |
NOTE: The
registered address of the company has been shifted from H.No.8-3-167/D/16,
Kalyan Nagar, Phase-I, Near A. G. Colony, Hyderabad – 500 038, Andhra Pradesh,
India to the present address w.e.f. 28.09.2009.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10372144 |
15/11/2012
* |
200,000,000.00 |
ICICI
BANK LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA – 390 015, GUJARAT, INDIA |
B63884381 |
|
2 |
10333818 |
15/11/2012
* |
600,000,000.00 |
ICICI
BANK LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA – 390 015, GUJARAT, INDIA |
B63883599 |
|
3 |
10016973 |
24/09/2009
* |
65,000,000.00 |
AXIS
BANK LIMITED |
CREDIT
MANAGEMENT CENTRE, 5-2-183/184, 8751(OLD), IIIRD FLOOR, RP ROAD, SECUNDERABAD
– 500 003, ANDHRA PRADESH, INDIA |
A71194419 |
|
4 |
90126902 |
15/11/2012
* |
600,000,000.00 |
AXIS
BANK LIMITED |
CORPORATE
BANKING BRANCH, 1ST FLOOR, PULLAREDDY BUILDINGS, GREENLANDS, BEGUMPET,
HYDERABAD – 500 016, ANDHRA PRADESH, INDIA |
B63794192 |
* Date
of charge modification
OPERATIONS:
The Company presently has two world class bulk actives and chemicals manufacturing
facility situated at Rudraram (V), Medak Dist., and Kardanur (V), Medak Dist.
About 40 kms from the city of Hyderabad and one finished dosages manufacturing
facility at ANRICH Industrial Estate, Bollaram, Medak Dist., near Hyderabad.
BULK ACTIVES:
Subject produces around 36 bulk actives in addition to the other
chemicals and intermediates in its bulk actives facility. Of this the
majorproducts are Clopidogrel, Ezetimibe, Rosuvastatin, Terbinafine and
Voricanazole which together contribute over 80% of the product revenues. The year saw launch of new molecules viz.,
Dabigatran; Desvenlafaxine; Dronedarone; Bicalutamide; Bimatoprost; Bortezomib;
Carboprost;Docetaxel; Epoprostonol; Erlotonib; Imatinib; Irinotecan;
Palonosetran.
Subject efforts to build a stronger customer base, both in domestic as
well as export markets. The share of export revenues contributes 62%of the
total revenues. The Company expects that
the share of export revenues would increase in the years to come. This being
propelled mainly through conscious efforts to increase its regulatory filings,
customer partnerships etc.
Subject has filed, in the Indian Patent Office, 139 intellectual
property rights applications. Similarly, 60 applications have been filed under
Patents Cooperation Treaty (PCT).
Subject has filed 86 DMFs including CEPS in US, Europe, Canada, Korea,
Japan etc.
FINISHED DOSAGES
BUSINESS:
Subject produces over 75 products in its finished dosage basket. The
company has ventured into chronic therapy-Lifestyle diseases which is the
biggest threat to the country. This segment, covering invasive and degenerative
diseases, is one of the fastest growing segments world over and India in
particular. The successful presence of
our finished dosages business enables the Company in moving up the value chain
in the pharmaceutical vertical.
During the year, subject has successfully expanded its market reach by
establishing a strong presence in the market. As Domestic Formulations Company
we have started making inroads in the market and are able to make a mark in the
Indian Market.
Subject is making necessary efforts in registering its products in
various countries in the semi-regulated markets of the world. Distribution partners have been identified in
many countries in Asia-Pacific, Latin America, Africa and some parts of
CIS. Over the next few years' subject
expects this business segment will make great progress in the market.
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Electrical installations
·
Lab Equipments
·
Generator
·
Office Equipments
·
Computers
·
Furniture and Fixtures
·
Motor Vehicles
PRESS
RELEASE:
MSN Laboratories Launches Pain-Killer Drug
Hyderabad, May 17:
Generics and finished dosages manufacturer, MSN Laboratories Ltd, has
launched its analgesic drug Tapentadol under the brand ‘Tapal' in domestic
market.
“With this launch, we are entering pain management market which is valued
at over Rs 30000.000 Millions,” Dr M.S.N. Reddy, Chairman and Managing
Director, MSN Laboratories, told newspersons here on Monday.
The drug is the generic version of Johnson & Johnson's Nucynta. “Our
product is priced at one-fifth of the innovator's drug,” Dr Reddy claimed.
Depending on dosage, Tapal is priced at Rs 10 to Rs19.
Tapentadol is indicated for management of moderate to severe and acute pain
in adult patients.
R&D facility
The privately-held
company was in the process of setting up a R&D facility with Rs 1000.000
Millions at Pashmylaram here.
“The first phase is
expected to be completed by this year-end,” Dr Reddy said.
The company had a
turnover of Rs 5000.000 Millions during 2010-11. About 75 per cent of revenue
had come from exports to over 100 countries.
MSN Labs to Enter Pain Management Market
Hyderabad, May 16:
MSN Laboratories Ltd, a city-based research oriented pharma company, has
said it will foray into the pain management market with the launch of
‘Tapentadol’ a pain killer under the brand name Tapal in the Indian market.
According to Mr MSN Reddy, Chairman of MSN Labs, the drug was developed by
the company for the first time in India and the results of phase-III trials of
the drug have shown that it would work better than the current acute pain relieving
drugs.
“We expect to clock revenues of up to Rs 1000.000 Millionsin the next 3-4
years from Tapal,” Mr Reddy told media persons here.
He said the market for pain killers in the country is around Rs 35000.000
Millions.
The Chairman said currently 10 to 12 drugs are under research and
development and the company will centralise the R&D activities in a new
facility being developed near Hyderabad with an investment of Rs 1000.000
Millions.
MSN currently has five manufacturing units, one facility for finished
dosage and a dedicated R&D centre. The company so far has filed over 100
Indian and over 40 international patents.
The company has also filed nearly 80 drug master files for the US, Canada
and European markets, Mr Reddy said.
MSN labs to invest Rs.1500.000 Millions for API, Formulations &
CRAMS unit in Hyderabad
MSN Laboratories
Ltd, a fast growing active pharmaceutical ingredients and formulations company
of India is planning to invest Rs.1500.000 Millions for setting up an API,
formulations and CRAMS (Contract Research and Manufacturing Services) unit in
Hyderabad.
Started small with
a single unit in the year 2003, today the Hyderabad based MSN Group has
established 8 units across India of which 6 are manufacturing units catering to
APIs, 1 unit for formulations and 1 research and development centre. Out of the
6 manufacturing units 3 units are US FDA certified while the remaining 3 are
catering to ROW (Rest of the World) and Indian markets.
While sharing his
views with Pharmabiz, Dr MSN Reddy, CMD of MSN group of companies, revealed his
expansion plans and said that the MSN group is planning to invest a total of
Rs.1500.000 Millions in the first phase to set up an exclusive API,
Formulations and CRAMS unit in Hyderabad. “We are a vertically integrated
company and our main focus is global markets. At present we are growing
consistently with a year-on-year growth of 30-40 per cent. Our major strength
is our people, focused R&D and cGMP practices” said Dr Reddy.
The year 2012 was
a great year for the MSN Group. The Group achieved a growth target of 40 per
cent. The overall turnover of the Group by March 2012 was set at Rs.6000.000
Millions and by the end of the financial year march 2013 it is expected that it
will cross Rs.10000.000 Millions. So far the Group has filed 148 Drug Master
Files (DMFs) globally of which 74 DMFs are filed in USA and other 74 are filed
in EU.
Airing his future
plans Dr MSN Reddy said, “We are planning to launch 2 important molecules in EU
and USA by 2015. Our research is mainly focused on the development of molecules
and not on therapeutics. At present we are having 3-4 potential molecules which
can give us a competitive advantage and our success lies in winning new markets
with new molecules.”
The MSN Group of
companies has been recognized globally and has been approved and certified by
all countries as quality and safety complier. Very soon the group is planning
to develop a Green field facility for its formulations unit in a plot of over
40 acres in Hyderabad. The company is already having a patient portfolio of 150
drugs in different countries. It is also planning to file 35 more patents in
USA and 40 patents in EU in the coming days.
MSN Laboratories successfully completes USFDA audit
for the 3rd successive time
Hyderabad based MSN Laboratories has successfully completed US FDA
Audit. The group has 55 DMFs for the
US market. Out of which 29 DMFs are from this facility.
Commenting on the development, Dr MSN Reddy, chairman & managing
director, MSN Group, said, that the 3rd consecutive audit that has been
successfully completed by the MSN Group. Achieving this for the 2nd time for the same unit has reiterated our belief
and commitment towards quality.
MSN Group is one of the fastest growing pharmaceutical manufacturers of
APIs and finished dosages in India.
The group has six API (including an Oncology) and one finished dosage
facilities & an integrated R&D Center located in Hyderabad. Two more
finished dosage facilities including one for Oncology are being built. MSN group facilities are USFDA, WHO/EU GMP
approved and ISO 9001:2008 certified.
The MSN group be offering custom Synthesis for API, Dosage development
services for the global markets from its State-of-the-art R&D Center soon.
The world class research center has about 42 stand alone laboratories housing
400 scientists spread over a 300,000 sq.ft facility.
With more than 100 APIs and 120 finished dosages, MSN group offers a
strong portfolio of complex and niche products covering all the major
therapies. It has 120 filed DMFs & CEPs for the US, Europe, Canada, Korea
& Japan, and 800 dossiers for the finished dosages for the emerging
markets. With 137 Indian & 51 International
Patents under its` belt, MSN Group offers comprehensive product support
to more than 250 customers across 65 countries in the North America, Europe,
Latin America, Africa & Asia.
With an outstanding workforce, cutting-edge science, state-of-the-art
technology base and knowledge intensive
initiatives, MSN group is working on innovative solutions for tomorrow`s
healthcare problems
MSN Laboratories to set up a new R&D centre in Hyderabad
Hyderabad-based Rs 3900.000 Millions formulation and contract research and
manufacturing services provider, MSN Laboratories, is setting up a new R&D
centre in Hyderabad with an investment of over Rs 400.000 Millions. The full
fledge commercial operation from the new centre will begin by first quarter of
2011. The company has arranged for funds from internal accruals.
The new R&D centre will be dedicated for
process chemistry, oncology chemicals, formulations and R&D, process
engineering etc. The company is involved in the manufacturing of high quality
Active Pharmaceutical Ingredients (APIs) and key pharmaceutical intermediates.
MSN Lab has strong R&D background supported by IPM team to develop
non-infringing and cost effective processes to cater to the specific
requirements of the customers worldwide.
Bharat Reddy, Executive Director, MSN
Laboratories said, "We have a very strong team and R&D backup. Looking
at the pharma generic products opportunity in the market we have finalized our
expansion plans. Initially, we will be building up a brand new integrated
R&D centre for finished dosages, APIs and CRAMs. For our new R&D centre
we will be hiring 350 scientists. We have already commenced construction work
and it should be completed by early next year."
At present, MSN Lab has total manpower
strength of 1,350 people, of which 20 percent staff is dedicated for R&D on
new product development and R&D process equally. The company is actively
working on generic APIs for oncology and anything related to synthetic organic
chemistry. MSN Lab is outsourcing required raw material from India, China and
some parts of Europe.
The company has 55 APIs globally, out of which
it has obtained 30 plus drug master files (DMFs) for US and Europe market. It
has filed seven COPs/CEP for Europe market. Overall, it has filled 85 patents
and soon it is targeting to get three to four product patents. "We have
been continuously working on novel root of synthesis and we are applying for
patent on process development," Reddy said.
MSN has 60 odd branded generic products for
anti hypertensive, anti-hyper lipoprotenemic, anti depressants,
anti-thrombotic, anti fungal, anti-bacterials, anti migraine, anti diabetic and
anti psychotic etc in its basket. It is in the process of product registration
of existing portfolio for ROW market. "We have already started registration
work and in next six months we will be having everything in place."
Reddy comments on the company's inorganic
growth, "At present we do not have any activities in place, but we are
looking for marketing tie ups. We are entering into the Japanese market, while
also extending our presence in the Korean market."
From the financial year 2010-11, the company
is expecting a turnover of Rs 6500.000 Millions. The company has strong
expansion plans lined up for the next two years.
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.61.49 |
|
|
1 |
Rs.98.71 |
|
Euro |
1 |
Rs.84.45 |
INFORMATION DETAILS
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
63 |
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.