MIRA INFORM REPORT
|
Report Date : |
23.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
DSM SINOCHEM PHARMACEUTICALS INDIA PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
DSM ANTI INFECTIVES INDIA LIMITED |
|
|
|
|
Registered
Office : |
Bhai Mohan Singh Nagar, Toansa, Tehsil Balachaur, District Nawanshahr,
Ludhiana – 144533, Punjab |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
19.01.1993 |
|
|
|
|
Com. Reg. No.: |
16-023090 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1603.010 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231PB1993PTC023090 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JLDD01636F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM4314K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Bulk Drugs and Intermediate Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 4830000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The company
has been incurring loss from its operations past some years and hence there
appear huge accumulated losses recorded by the company. However, trade
relations are reported to be fair. Business is active. Payments are reported
to be slow but correct. The company can be considered for business dealings with some caution. |
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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another megatrend
happening. The World order is changing as economic power shifts from West to
East. According to McKinsey study, it took Britain more than 100 years to
double its economic output per person during its industrial revolution and the
US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
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/ Factory : |
Bhai Mohan Singh Nagar, Toansa, Tehsil Balachaur, District Nawanshahr,
Ludhiana – 144533, Punjab, India |
|
Tel. No.: |
91-1881-509650/ 273624/ 6 |
|
Fax No.: |
91-1881-509890 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate/ Branch Office 1 : |
9th Floor, Tower A, Infinity Towers, DLF Phase II Gurgaon – 122002,
Haryana, India |
|
Tel. No.: |
91-124-4179900 |
|
|
|
|
Branch Office 2 : |
Plot No.E57 and E58, Additional MIDC, Anandnagar,
Ambernath (East), Thane - 421501, Maharashtra, India |
|
Tel. No.: |
91-251-6484018 |
|
|
|
|
Branch Office 3 : |
Windsor House, 401 Fourth Floor, CST Road, Kalina, Santacruz (East), Mumbai – 400098, Maharashtra, India |
|
Tel. No.: |
91-22-40349100 |
|
|
|
|
Branch Office 4 : |
401/402, 4th Floor, NSG IT Park, Aundh, Pune – 411007, Maharashtra, India |
|
Tel. No.: |
91-20-66430800 |
|
|
|
|
Branch Office 5 : |
Plot No. F 40, Ranjangaon MIDC, Tal. Shirur, Ranjangaon – 412220, Maharashtra, India |
|
|
|
|
Branch Office 6 : |
Unit 3, 9th Floor, Building # 20 (Zenon), Sundew Properties Private Limited, IT and ITES - SEZ, K Raheja Mindspace IT Park, Hitech City, Madhapur, Hyderabad – 500081, Andhra Pradesh, India |
|
Tel. No.: |
91 40 4949 4000 |
|
|
|
|
Branch Office 7 : |
Unit No 407, Barton Center, 4th Floor, No 84, MG Road, Bangalore – 560001, Karnataka, India |
|
|
|
|
Branch Office 8 : |
Global Axis, Plot No. 152, Gopalan Enterprises SEZ, EPIP Area, Bangalore – 560069, Karnataka, India |
|
Tel. No.: |
91-80-67255000 |
DIRECTORS
AS ON 26.09.2012
|
Name : |
Mr. Vineet Kumar Singhal |
|
Designation : |
Whole-time director |
|
Address : |
Flat No. 1303, Tower 5, The Palms South City 1, Gurgaon – 122001,
Haryana, India |
|
Date of Birth/Age : |
20.11.1972 |
|
Date of Appointment : |
03.07.2012 |
|
PAN No.: |
AIGPS2799L |
|
DIN No.: |
00552569 |
|
|
|
|
Name : |
Bartholomeus Joannes Josephus Vincentius Welten |
|
Designation : |
Director |
|
Address : |
25 Oxley Walk #02-22 Belle Vue Residences Singapore 238595 |
|
Date of Birth/Age : |
06.10.1960 |
|
Date of Appointment : |
24.05.2013 |
|
DIN No.: |
06615396 |
|
|
|
|
Name : |
Mr. Vikas Mittal |
|
Designation : |
Director |
|
Address : |
H. No. 134, Old Housing Boaard Colony, Panipat – 132103, Haryana,
India |
|
Date of Birth/Age : |
27.02.1977 |
|
Date of Appointment : |
11.05.2012 |
|
DIN No.: |
05286146 |
KEY EXECUTIVES
|
Name : |
Ms. Malwika |
|
Designation : |
HR Executive |
|
|
|
|
Name : |
Ms. Komal Sachin Gupta |
|
Designation : |
Secretary |
|
Address : |
F 102, Bestech Park View City II, Sohna Road, Near Omaxe Mall, Gurgaon
– 122001, Haryana, India |
|
Date of Birth/Age : |
25.03.1983 |
|
Date of Appointment : |
30.04.2010 |
|
PAN No.: |
BHAPS5283H |
|
|
|
|
Name : |
Bharat R Sesha |
|
Designation : |
Vice President |
|
Date of Birth/Age : |
40 Years |
|
Qualification : |
BE, MBA MIM |
|
Experience : |
11 Years |
|
|
|
|
Name : |
Deepak Chander |
|
Designation : |
Business Head |
|
Date of Birth/Age : |
39 Years |
|
Qualification : |
B. Tech Chemistry Engg from IIT Delhi, MBA Mktg &
Strategy from IIM Indore |
|
Experience : |
16 Years |
|
|
|
|
Name : |
Giel Tan Haaf |
|
Designation : |
Director Finance |
|
Date of Birth/Age : |
37 Years |
|
Qualification : |
Masters of Science, Executive Masters of Finance &
Control |
|
Experience : |
10 Years |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Gist Brocades International, B.V, Netherlands |
|
160300676 |
|
Pranesh Sridharan (held as nominee for Gist Brocades
International, B.V, Netherlands) |
|
5 |
|
Vineet Kumar Singhal (held as nominee for Gist Brocades
International, B.V, Netherlands) |
|
5 |
|
Aanchal Singh (held as nominee for Gist Brocades International,
B.V, Netherlands) |
|
2 |
|
Somen Ganguly (held as nominee for Gist Brocades International,
B.V, Netherlands) |
|
2 |
|
Rajesh Salwan (held as nominee for Gist Brocades International,
B.V, Netherlands) |
|
2 |
|
Vikas Mittal (held as nominee for Gist Brocades International,
B.V, Netherlands) |
|
4 |
|
|
|
|
|
Total |
|
160300696 |
AS ON 26.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
|
|
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Bulk Drugs and Intermediate Products. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS AS ON (31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Intermediates |
MT |
NA |
2160 |
608.96 |
|
Bulk Drugs |
MT |
NA |
4080 |
3990.10 |
Notes: -
1.
Installed capacity, being a technical matter, has
been certified by the management and accepted by the Auditors. Installed
capacities are as on 31st March, 11.
2.
Actual production includes 558.00 MTs (Previous
year 925.94 MTs) of Intermediates used for captive consumption.
3.
Production includes job work production of 14.44
MTs (Previous year Nil) of bulk drugs and 15.48 MTs of intermediate (Previous
year 231.14 MTs). Out of 15.48 MTs of intermediates 15.48 MTs were captively
consumed.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. R. Batliboi and Company Chartered Accountants |
|
Address : |
Hindustan Times Building,
18-20 Kasturba Gandhi Marg, 6th Floor, New Delhi - 110001, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AALFS0506L |
|
|
|
|
Holding company : |
Gist Brocades International B.V., Netherlands |
|
|
|
|
Ultimate Holding
company : |
DSM Sinochem Pharmaceuticals Limited |
|
|
|
|
Joint Ventures |
Hindustan Max GB Limited,
Pune [U24232PN1995PLC017954] |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
v DSM Sinochem Pharmaceuticals BV v Zhangjiakou Gist-Brocades Pharmaceuticals Company Limited, China (ZGB, China) v DSM Trading (Shanghai) Company Limited, Hongkong v DSM NV Concern, The Netherlands (DSM NV) v DSM Finance, The Netherlands v DSM Food Specialties Products v DSM Nutritional Products, The Netherlands v DSM Nutritional Products, India v DSM Anti-Infectives, Egypt (DAI Egypt) S. A.E. v DSM Anti–Infectives, Egypt L.L.C. v Zhangjiakou DHA Pharmaceutical Company Limited v DSM Expert Centre BV v DSM Chemferm v DSM ZIBO Pharmaceuticals Company Limited v DSM Sourcing BV v DSM Composite Resins AG v DSM Neoresins BV v DSM Pharmaceutical Products INC. v DSM New Business Development BV v ZJK DSM Hayao Pharma v DSM Composite Research v DSM Venturing BV v Fersinsa GB, S.A. v DSM Engineering Plastics v DSM Innovation Center v DSM Business Support B.V. v DSM (China) Limited v DSM Nutritional Products, USA v DSM IT B.V. v DSM Biomedical v DSM Fine Chemicals, Austria v DSM Trading (Beijing) Company v DSM India Private Limited v DSM Services USA Inc. v DSM Desotech v Zhang
Jia Kou GB Pharma Company Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
170,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1700.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
160,300,696 |
Equity Shares |
Rs. 10/- each |
Rs. 1603.010 Millions |
|
|
|
|
|
Footnotes
(A) The company has
only one class of equity shares having par value of Rs. 10 per share. Each
holder of equity shares is entitled to one vote per share. The Company declares
and pays dividends in Indian rupees. The dividend proposed by the Board of Directors
is subject to the approval of the shareholders in the ensuing Annual General
Meeting. However till date no dividend has been declared by Company. In the
event of liquidation of the company, the holders of equity shares will be
entitled to receive remaining assets of the company, after distribution of all
preferential amounts. The distribution will be in proportion to the number of
equity shares held by the shareholders.
(B) The company has only
one class of equity shares having par value of Rs. 10 per share. Each holder of
equity shares is entitled to one vote per share. The Company declares and pays
dividends in Indian rupees. The dividend proposed by the Board of Directors is
subject to the approval of the shareholders in the ensuing Annual General
Meeting. However till date no dividend has been declared by Company. In the
event of liquidation of the company, the holders of equity shares will be
entitled to receive remaining assets of the company, after distribution of all
preferential amounts. The distribution will be in proportion to the number of
equity shares held by the shareholders.
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 |
|
1603.010 |
1603.010 |
|
(b) Reserves & Surplus |
|
(395.170) |
(303.590) |
|
(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) |
|
1207.840 |
1299.420 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
757.520 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
0.000 |
757.520 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
572.830 |
446.000 |
|
(b)
Trade payables |
|
2453.090 |
2627.180 |
|
(c)
Other current liabilities |
|
903.150 |
98.870 |
|
(d)
Short-term provisions |
|
26.310 |
20.860 |
|
Total
Current Liabilities (4) |
|
3955.380 |
3192.910 |
|
|
|
|
|
|
TOTAL |
|
5163.220 |
5249.850 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
1087.610 |
1190.390 |
|
(ii)
Intangible Assets |
|
0.500 |
0.000 |
|
(iii)
Capital work-in-progress |
|
27.620 |
5.530 |
|
(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 |
|
39.390 |
40.390 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
1155.120 |
1236.310 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
1222.590 |
1082.320 |
|
(c)
Trade receivables |
|
2291.080 |
2208.920 |
|
(d)
Cash and cash equivalents |
|
160.150 |
335.140 |
|
(e)
Short-term loans and advances |
|
323.290 |
362.450 |
|
(f)
Other current assets |
|
10.990 |
24.710 |
|
Total
Current Assets |
|
4008.100 |
4013.540 |
|
|
|
|
|
|
TOTAL |
|
5163.220 |
5249.850 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
1562.670 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
48.790 |
|
|
4] (Accumulated Losses) |
|
|
(345.660) |
|
|
NETWORTH |
|
|
1265.800 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
1537.770 |
|
|
TOTAL BORROWING |
|
|
1537.770 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2803.570 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1275.550 |
|
|
Capital work-in-progress |
|
|
7.090 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
823.890 |
|
|
Sundry Debtors |
|
|
1471.850 |
|
|
Cash & Bank Balances |
|
|
124.010 |
|
|
Other Current Assets |
|
|
10.120 |
|
|
Loans & Advances |
|
|
537.310 |
|
Total
Current Assets |
|
|
2967.180 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
1350.550 |
|
|
Other Current Liabilities |
|
|
75.960 |
|
|
Provisions |
|
|
19.740 |
|
Total
Current Liabilities |
|
|
1446.250 |
|
|
Net Current Assets |
|
|
1520.930 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2803.570 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8241.930 |
8624.080 |
6089.860 |
|
|
|
Other Income |
33.770 |
104.320 |
106.090 |
|
|
|
TOTAL (A) |
8275.700 |
8728.400 |
6195.950 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
|
7378.920 |
5171.370 |
|
|
|
Employee related expenses |
|
301.520 |
278.890 |
|
|
|
Administrative selling other expenses |
|
1038.820 |
840.130 |
|
|
|
TOTAL (B) |
8146.530 |
8719.260 |
6290.390 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
[LOSS] BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
129.170 |
9.160 |
9.140 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
99.580 |
96.750 |
96.730 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
[LOSS] BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
29.590 |
(87.590) |
(87.590) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
133.150 |
133.720 |
133.720 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ [LOSS] BEFORE
TAX (E-F) (G) |
(103.560) |
(221.310) |
(221.310) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(2.150) |
36.060 |
36.050 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ [LOSS]
AFTER TAX (G-H) (I) |
(101.410) |
(257.370) |
(257.360) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export at FOB Value |
3132.520 |
2977.840 |
2077.670 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
3919.940 |
2774.170 |
|
|
|
Traded Goods |
|
485.690 |
397.310 |
|
|
|
Stores and Spare parts |
|
3.260 |
2.290 |
|
|
|
Capital Items |
|
0.520 |
14.510 |
|
|
|
Material In Transit |
|
214.380 |
96.800 |
|
|
TOTAL IMPORTS |
NA
|
4623.790 |
3285.080 |
|
|
|
|
|
|
|
|
|
|
Earnings/ [Loss]
Per Share (Rs.) |
(0.63) |
(1.63) |
(2.21) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(1.23)
|
(2.95) |
(5.58) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(1.26)
|
(2.54) |
(5.66) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.02)
|
(4.22) |
(8.13) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.09)
|
(0.17) |
(0.27) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.47
|
0.93 |
1.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.01
|
1.26 |
2.05 |
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
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: NO CHARGES EXIST FOR COMPANY
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
LONG-TERM BORROWINGS |
|
|
|
Term loans from others |
0.000 |
757.520 |
|
SHORT-TERM BORROWINGS |
|
|
|
Rupee term loans from banks |
313.140 |
446.000 |
|
Working capital loans from banks |
259.690 |
0.000 |
|
|
|
|
|
Total |
572.830 |
1203.520 |
|
Footnotes LONG-TERM
BORROWINGS (A) Foreign Currency
Term Loan from Gist Brocades International B.V., Netherlands (Holding
Company) : 0 (B) Foreign
Currency Term Loan from Gist Brocades International B.V., Netherlands
(Holding Company) : 757.52 Foreign Currency Term Loan interest shall be
calculated by reference to each period at a rate per annum equal to EURIBOR
in relation to the relevant interest period plus the margin and shall be
determined by the lender for each period on the interest determination date.
Further the interest on loan shall be payable in each six months in arrears
on 22nd February and 22nd August of each year. Subject to the terms of the
agreement, the borrower shall repay the loan to the lender in full on 22nd
February 2013. SHORT-TERM
BORROWINGS (A) Out of Short term loan, loan of Rs.58.73 (previous
year Nil) and Cash credit from bank is secured against the unconditional and
irrecoverably bank guarantee of holding company i.e. "Koninklijke DSM
N.V." for a maximum amount of EUR 10 Million Out of Short term loan,
loan of Rs.254.40 is secured against pledge of deposits by DSM Finance
B.V.(Belgium) for a maximum amount of USD 10 Million |
||
CORPORATE
INFORMATION
DSM Sinochem Pharmaceuticals India Private Limited (Formerly DSM Anti Infectives India Limited) (DSP) was established on February 4, 1993 as a Joint Venture between Gist Brocades NV, The Netherlands and Max India Limited. During the year 2002-03, it became a wholly owned subsidiary of Gist Brocades International B.V., Netherlands pursuant to exit of Max India Limited from the Joint Venture.
Company carries out the activities of development,
production, purchase and sale of bulk drugs, which forms part of the operations
under the Life Sciences cluster of the DSM Group.
FIXED ASSETS:
v Land
v Buildings
v Plant and equipment
v Furniture and fixtures
v Vehicles
v Office equipment
v Leasehold improvements
v 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. 62.24 |
|
|
1 |
Rs. 99.90 |
|
Euro |
1 |
Rs. 84.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.