MIRA INFORM REPORT
|
Report Date : |
14.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
FAMY CARE LIMITED |
|
|
|
|
Registered
Office : |
12-14, 3rd Floor, Brady House, Veer Nariman Road, Fort,
Mumbai-400001, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
30.06.2013 |
|
|
|
|
Date of
Incorporation : |
28.09.1987 |
|
|
|
|
Com. Reg. No.: |
11-044813 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.17.073
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24236MH1987PLC044813 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMF03740C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF1663R |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing, Selling and Development of Pharmaceutical Products. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
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 14300000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having fine track record. The rating reflects healthy financial risk profile marked by adequate liquidity
position and decent profitability of the company. 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.
ECGC Country Risk Classification List – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product from
$31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in exports
and moderation in gold imports. Manufacturing activity and new orders in India
showed their strongest growth in a year in February. The news comes as a relief
after data showed Asia’s third largest economy grew by a slower-than-expected
4.7 % annually in the three months through December. The HSBC Manufacturing
Purchasing Managers’ Index which gauges the business activity of India’s
factories but not its’ utilities, rose to 52.5 in February, its highest in a
year from 51.4 in January. Overall new orders for factory goods which rose to a
one-year high of 54.9 contributed to the surge. China has emerged as India’s
biggest trading partner in the current financial year replacing the United Arab
Emirates and pushing it to the third spot. India-China trade has reached $49.5
billion with a 8.7 % share in India’s total trade. The US comes second at $46
billion with 8.1 % share during the first nine months of the current financial
year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced. The
defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: “A+” |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
18.12.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: “A1+” |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
18.12.2013 |
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 DETAILS)
|
Name : |
Mr. Prashant |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-61293500 |
|
Date : |
11.04.2014 |
LOCATIONS
|
Registered / Corporate Office : |
12-14, 3rd Floor, Brady House, Veer Nariman Road, Fort,
Mumbai - 400001, Maharashtra, India |
|
Tel. No.: |
91-22-30289655 / 30289636 |
|
Fax No.: |
91-22-30289656 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Plot No. 1608 and 1609, G.I.D.C. Sarigam – 396155, Gujarat, India |
|
Tel. No.: |
91-260-2780674/ 2780502 |
|
Fax No.: |
91-260-2780574 |
|
|
|
|
Factory 2 : |
Plot No. 688/10/11, Siddhi Vinayak Industrial Estate, Opposite Somnath
Temple, Somnath, Daman – 396210, Daman and Diu, India |
|
Tel. No.: |
91-260- 2242484/ 2243279 |
|
Fax No.: |
91-260-2243279 |
|
|
|
|
Factory 3 : |
20/21, Pharmez, The Pharmaceutical Special Economic Zone,
Near Vill Matoda, NH No. 8A, Taluka Sanand, Ahmedabad – 382213, Gujarat,
India |
|
Tel. No.: |
91-79-30414500 |
|
Fax No.: |
91-79-30414548 |
|
|
|
|
Overseas Office 1 : |
PK 7 Route Da Cabassou Remire |
|
Tel. No.: |
91-594-230726 |
|
Fax No.: |
91-594-290645 |
|
|
|
|
Overseas Office 2 : |
Mar 26 Street, Ward 5, Go Vap District, HCM City |
|
Tel. No.: |
91-84-5880322 |
DIRECTORS
As on 12.12.2013
|
Name : |
Mr. Ajay Lal |
|
Designation : |
Director |
|
Address : |
909B, The Aralias DLF, Golf Links, Gurgaon – 122009, Haryana, India |
|
Date of Birth/Age : |
08.08.1961 |
|
Date of Appointment : |
13.04.2010 |
|
DIN No.: |
00030388 |
|
|
|
|
Name : |
Mr. Jyotiprasad Taparia |
|
Designation : |
Whole Time Director |
|
Address : |
101/Laxmi Vilas, 10th Floor, 87, Nepean Sea Road, Mumbai - 400006, Maharashtra, India |
|
Date of Birth/Age : |
21.11.1944 |
|
Date of Appointment : |
01.04.2011 |
|
PAN No.: |
AABPT7457P |
|
DIN No.: |
00157746 |
|
|
|
|
Name : |
Mr. Sanjeev Jyotiprasad Taparia |
|
Designation : |
Managing Director |
|
Address : |
101/Laxmi Vilas, 10th Floor, 87, Nepean Sea Road, Mumbai - 400006, Maharashtra, India |
|
Date of Birth/Age : |
29.07.1967 |
|
Date of Appointment : |
01.04.2011 |
|
PAN No.: |
AABPT7453K |
|
DIN No.: |
00157770 |
|
|
|
|
Name : |
Mr. Ajay Kumar Vij |
|
Designation : |
Director |
|
Address : |
H. No. L-2, Sarita Vihar, New Delhi - 110044, India |
|
Date of Birth/Age : |
28.09.1960 |
|
Date of Appointment : |
31.12.2011 |
|
DIN No.: |
00164984 |
|
|
|
|
Name : |
Mr. Ashutosh Jyotiprasad Taparia |
|
Designation : |
Managing Director |
|
Address : |
101/Laxmi Vilas, 10th Floor, 87, Nepean Sea Road, Mumbai - 400006, Maharashtra, India |
|
Date of Birth/Age : |
25.01.1973 |
|
Date of Appointment : |
01.07.2010 |
|
|
AABPT4664J |
|
DIN No.: |
00178771 |
|
|
|
|
Name : |
Barry Clare |
|
Designation : |
Director |
|
Address : |
55, Hampstead Way, London, England, NWI17DP, United Kingdom |
|
Date of Birth/Age : |
25.06.1953 |
|
Date of Appointment : |
31.12.2011 |
|
DIN No.: |
02442602 |
KEY EXECUTIVES
|
Name : |
K. Anand |
|
Designation : |
Chief Operations Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 12.12.2013
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Jyotiprasad Taparia |
129450 |
7.58 |
|
Urmiladevi Taparia |
280750 |
16.44 |
|
Ashutosh Taparia |
247600 |
14.50 |
|
Jyotiprasad Taparia (HUF) |
183000 |
10.72 |
|
Sanjiv Taparia |
219250 |
12.84 |
|
Aruna Taparia |
128500 |
7.53 |
|
Anjali Taparia |
30000 |
1.76 |
|
Nidhi Taparia |
30000 |
1.76 |
|
Anjali Taparia |
160000 |
9.37 |
|
Orizaba Limited, Mauritius |
298780 |
17.50 |
|
Total |
1707330 |
100.00 |
As on 12.12.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
17.50 |
|
Directors or relatives of Directors |
82.50 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, Selling and Development of Pharmaceutical Products. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Advance Payment, L/C and Cheque |
||||
|
|
|
||||
|
Purchasing : |
Advance Payment, L/C and Cheque |
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Copper T |
(Pcs. in Lacs) |
195.00 |
29.37 |
|
Oral Contraceptive Pills |
(OCP) (Cycles in
Lacs) |
5800.00 |
2495.69 |
|
Tubal Rings |
(Pairs in Lacs) |
300.00 |
2.17 |
|
Exacta |
(Pep Smear Kit)
(Pcs in Lacs ) |
25.00 |
0.002 |
|
Injectables |
(Nos. in Lacs) |
650.00 |
6.50 |
NOTE: Since the industrial licensing for Drugs and
Pharmaceuticals has been abolished under the Industrial Policy, the particulars
of licensed capacity are not stated.
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and Others |
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
150 (Approximately) |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
· State Bank of India, Commercial Branch, N. G. N. Vaidya Marg, Mumbai – 400023, Maharashtra, India · HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India · Standard Chartered Bank, 90, M G Road, Fort, Mumbai - 400001, Maharashtra, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S R Batliboi and Company Chartered Accountants |
|
Address : |
14th Floor,
The Ruby 29, Senapati Bapat Marg, Dadar (West), Mumbai - 400028, Maharashtra,
India |
|
Income-tax
PAN of auditor or auditor's firm : |
AALFS0506L |
|
|
|
|
Joint Venture
Entity: |
· PharmaGen LLC · Essential Drugs and Famy Care Limited CIN No.: U85100DL2009PTC188867 |
|
|
|
|
Subsidiary company |
· Hevea Fine Products Private Limited CIN No.: U25190MH1998PTC114824 · Tarakesh Pharma Private Limited CIN No.: U24139MH2004PTC144395 · Famy Care Europe Limited · Famy Care Peru S.R.L |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives: |
Famy Energy Private Limited CIN No.: U40109MH2008PTC187793 |
CAPITAL STRUCTURE
As on 30.06.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs.120.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1707330 |
Equity Shares |
Rs.10/- each
|
Rs.17.073
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.06.2013 |
30.06.2012 |
30.06.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
17.073 |
17.073 |
17.073 |
|
(b) Reserves & Surplus |
3558.985 |
2364.224 |
2189.372 |
|
(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) |
3576.058 |
2381.297 |
2206.445 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
13.782 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
15.000 |
210.338 |
15.000 |
|
(d) long-term
provisions |
15.960 |
15.046 |
11.005 |
|
Total Non-current
Liabilities (3) |
44.742 |
225.384 |
26.005 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
573.934 |
254.798 |
44.720 |
|
(b) Trade
payables |
372.816 |
205.594 |
147.099 |
|
(c) Other
current liabilities |
93.368 |
247.753 |
68.301 |
|
(d) Short-term
provisions |
412.548 |
188.052 |
155.601 |
|
Total Current Liabilities
(4) |
1452.666 |
896.197 |
415.721 |
|
|
|
|
|
|
TOTAL |
5073.466 |
3502.878 |
2648.171 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
892.241 |
813.464 |
844.072 |
|
(ii)
Intangible Assets |
7.149 |
5.227 |
4.597 |
|
(iii)
Capital work-in-progress |
133.700 |
43.147 |
9.601 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
445.534 |
151.922 |
27.935 |
|
(c) Deferred tax assets (net) |
0.000 |
0.908 |
7.296 |
|
(d) Long-term Loan and Advances |
105.932 |
175.426 |
97.487 |
|
(e) Other
Non-current assets |
0.401 |
0.401 |
0.401 |
|
Total Non-Current
Assets |
1584.957 |
1190.495 |
991.389 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
979.606 |
767.910 |
292.543 |
|
(b)
Inventories |
316.769 |
234.033 |
221.593 |
|
(c) Trade
receivables |
1540.825 |
941.519 |
967.215 |
|
(d) Cash
and cash equivalents |
47.327 |
26.922 |
57.999 |
|
(e)
Short-term loans and advances |
400.093 |
136.687 |
115.186 |
|
(f) Other
current assets |
203.889 |
205.312 |
2.246 |
|
Total
Current Assets |
3488.509 |
2312.383 |
1656.782 |
|
|
|
|
|
|
TOTAL |
5073.466 |
3502.878 |
2648.171 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.06.2013 |
30.06.2012 |
30.06.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3249.469 |
2206.549 |
2026.068 |
|
|
|
Other Income |
131.920 |
96.03 |
18.724 |
|
|
|
TOTAL (A) |
3381.389 |
2302.579 |
2044.792 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
566.816 |
307.299 |
359.577 |
|
|
|
Purchases of Stock-in-Trade |
142.525 |
166.934 |
40.562 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(25.997) |
43.453 |
(18.243) |
|
|
|
Employees benefits expense |
341.317 |
314.938 |
265.653 |
|
|
|
Other expenses |
1127.267 |
644.754 |
478.368 |
|
|
|
Prior period items |
0.000 |
0.000 |
140.105 |
|
|
|
Exceptional Items |
18.774 |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
2170.702 |
1477.378 |
1266.022 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
1210.687 |
825.201 |
778.770 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
9.066 |
12.97 |
8.93 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1201.621 |
812.231 |
769.840 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
123.521 |
114.822 |
124.203 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
1078.100 |
697.409 |
645.637 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
227.348 |
138.86 |
60.265 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
850.752 |
558.549 |
585.372 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
3031300 |
2052.100 |
1983.600 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Raw Materials & Packing Material |
|
|
160.238 |
|
|
|
Traded Goods |
|
|
28.895 |
|
|
|
Capital Goods |
|
|
17.602 |
|
|
|
Store & Spares |
|
|
5.710 |
|
|
TOTAL IMPORTS |
NA |
NA |
212.445 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
49.829 |
327.15 |
342.86 |
|
KEY RATIOS
|
PARTICULARS |
|
30.06.2013 |
30.06.2012 |
30.06.2011 |
|
PAT / Total Income |
(%) |
25.16 |
24.26 |
28.63 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
33.18 |
31.61 |
31.87 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
23.99 |
21.09 |
24.80 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30 |
0.29 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.16 |
0.11 |
0.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.40 |
2.58 |
3.99 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
30.06.2011 |
30.06.2012 |
30.06.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
17.073 |
17.073 |
17.073 |
|
Reserves & Surplus |
2189.372 |
2364.224 |
3558.985 |
|
Net
worth |
2206.445 |
2381.297 |
3576.058 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
44.720 |
254.798 |
573.934 |
|
Total
borrowings |
44.720 |
254.798 |
573.934 |
|
Debt/Equity
ratio |
0.020 |
0.107 |
0.160 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
30.06.2011 |
30.06.2012 |
30.06.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
2026.068 |
2206.549 |
3249.469 |
|
|
|
8.908 |
47.265 |
NET PROFIT MARGIN
|
Net
Profit Margin |
30.06.2011 |
30.06.2012 |
30.06.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
2026.068 |
2206.549 |
3249.469 |
|
Profit |
585.372 |
558.549 |
850.752 |
|
|
28.89% |
25.31% |
26.18% |
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 |
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) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10182650 |
27/12/2010 * |
1,025,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH (ADVANCES), N.G.N. VAIDYA MARG, MUMBAI - 400023, MAHARASHTRA, INDIA |
B03043361 |
|
2 |
10134730 |
26/12/2008 |
375,000,000.00 |
3I INFOTECH TRUSTEESHIP SERVICES LIMITED |
3RD TO 6TH FLOOR, INTERNATIONAL INFOTECH PARK,, T |
A53321691 |
|
3 |
10125648 |
15/10/2008 |
150,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMI |
52/60, MAHATAMA GANDHI ROAD, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA |
A47815204 |
|
4 |
10071191 |
31/08/2007 |
53,800,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, N.G.N. VAIDYA MARG, FORT, MUMBAI - 400023, MAHARASHTRA, INDIA |
A25015058 |
|
5 |
10063966 |
02/06/2010 * |
450,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
A89344063 |
|
6 |
10030017 |
11/02/2010 * |
300,000,000.00 |
STANDARD CHARTERED BANK |
90, M G ROAD, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA |
A81512220 |
|
7 |
90210971 |
29/03/1999 |
35,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH; JUSTICE G.N. VAIDYA MARG, MUMBAI - 400023, MAHARASHTRA, INDIA |
- |
|
8 |
90212974 |
10/01/1997 |
35,000,000.00 |
ICICI LIMITED |
163; BACKBAY RECLAMATION, MUMBAI - 400020, MAHARASHTRA, INDIA |
- |
|
9 |
90210887 |
20/02/1996 |
98,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH; JUSTICE G.N. VAIDYA MARG, MUMBAI - 400023, MAHARASHTRA, INDIA |
- |
|
10 |
90212796 |
24/03/1999 * |
35,000,000.00 |
ICICI LIMITED |
163; BACKBAY RECLAMATION, MUMBAI - 400020, MAHARASHTRA, INDIA |
- |
|
11 |
90212415 |
11/11/1993 |
10,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH; JUSTICE G.N. VAIDYA MARG, MUMBAI - 400023, MAHARASHTRA, INDIA |
- |
|
12 |
90212286 |
20/08/2002 * |
51,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH; JUSTICE G.N. VAIDYA MARG, MUMBAI - 400023, MAHARASHTRA, INDIA |
- |
|
13 |
90212041 |
21/02/1990 |
10,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH; JUSTICE G.N. VAIDYA MARG, MUMBAI - 400023, MAHARASHTRA, INDIA |
- |
|
14 |
90211985 |
04/10/1989 |
10,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH; JUSTICE G.N. VAIDYA MARG, MUMBAI - 400023, MAHARASHTRA, INDIA |
- |
|
15 |
90211953 |
10/07/1989 * |
10,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH; JUSTICE G.N. VAIDYA MARG, MUMBAI - 400023, MAHARASHTRA, INDIA |
- |
|
16 |
90211809 |
30/07/1988 |
10,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH; JUSTICE G.N. VAIDYA MARG, MUMBAI - 400023, MAHARASHTRA, INDIA |
- |
|
17 |
90211771 |
21/04/1988 |
5,000,000.00 |
THE INDUSTRIL CREDIT AND INVESTMENT CORPOARTION O |
163; BACKBAY RECLAMATION, MUMBAI - 400020, MAHARASHTRA, INDIA |
- |
|
18 |
90211758 |
02/02/1990 * |
300,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, JUSTICE G.N. VAIDYA MARG, MUMBAI - 400023, MAHARASHTRA, INDIA |
- |
* Date of charge modification
CORPORATE
INFORMATION
The Company is a public limited company, domiciled in India and incorporated under the provision of the Companies Act,1956. The Company is engaged in the manufacturing, selling and development of pharmaceutical products.
REVIEW OF OPERATIONS:
The Company has reported satisfactory performance for the year against the background turbulent global business outlook. The Profit after Tax has increased from Rs. 585.500 Millions to Rs. 850.800 Millions. The Company has achieved a turnover of Rs. 3249.500 Millions (Previous Year Rs. 2206.500 Millions) including Product Development Charges/Dossier Revenue of Rs. 237.900 Millions (Previous Year Rs. 223.100 Millions).
The Company has successfully executed all the orders received from various customers, during the year.
Further, the Company has successfully filed 37 Abbreviated New Drug Application (ANDA) with USFDA till date. The products are being developed under an Agreement with Mylan Pharmaceuticals Inc. wherein the products will be marketed by them under Exclusive Marketing Arrangement for USA other than NGO market in US. They have started receiving product approval which are in line with estimates till date. . The Company has also filed 11 dossiers with Health Canada (TPD) in Canada till date. They have received product approval for Canada Market. For Europe market the company has filed Dossier for 16 products with European Health Authorities till date. The Company has entered into Marketing Arrangement with leading pharmaceutical companies for European and Russian Market.
The Company's has signed Technical Collaboration Agreement with Axar Pharmaceutical Inc for development of Non-Contraceptive Products. The company has successfully negotiated commercial agreement in line with their strategic growth model.
During the year The Ahemdabad Facility has got ANVISA GMP approval opening exiciting opportunities to Brazil regulated market.
The Company has launched 2 products in European market during the year.
The Company has got orders for Injectable contraceptives from Row market and it has enabled them to full optimum utilization of their injectable capacity for the coming year.
FUTURE PLANS
The Company has made good progress in its plan to enter into Regulated Market of United States of America (U.S.A.), Canada and Europe.
During the year, the company is expecting to dispatch around 15 Products to USA markets before the end of financial year.
The Company plans to launch 3 more products in European market before end of current financial year.
The company plans to file 6ANDA for registration with USFDA for US markets for few more products with Drug Authorities in European Countries in the current financial year.
The Research and Development Team of the Company is working on Injectable Contraceptives, New Drug Delivery System (NDDS) in Contraceptives which has good potential in international market. The Company is also developing Anti-Malarial Product and Opthalmic Products.
FIXED ASSETS
v
Tangible
Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Motor Vehicles
· Office Equipment
· Other Equipments
· Leasehold Improvements
v
Intangible
Assets
· Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.27 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.83.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
62 |
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.