MIRA INFORM REPORT
|
Report Date : |
30.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
IND SWIFT LABORATORIES LIMITED |
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Registered
Office : |
SCO 850, Shivalik Enclave, NAC, Manimajra, Chandigarh – 160 101, |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
04.01.1995 |
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Com. Reg. No.: |
16-015553 |
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Capital
Investment / Paid-up Capital : |
Rs.392.705
Millions |
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CIN No.: [Company Identification
No.] |
L24232CH1995PLC015553 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PTLI10111D / PTLI10125D |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturer and Seller of Active Pharmaceutical Ingredients (API) and
Advanced Intermediates. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (18) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having moderate track record. There seems some dip in the turnover, the company has also incurred a
heavy loss during the year 2013. The rating takes into consideration some delay by the company
servicing its debt obligation. However, business is active. Payments are
reported to be slow. The company can be considered for business dealings on a secured 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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
US investment bank Goldman
Sachs has upgraded its outlook on Indian markets as it expects positive
impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loan Faculties (Upgraded to C from D) |
|
Rating Explanation |
Very high risk of default. |
|
Date |
November 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Letter of Credit (Upgraded to A4 from D) |
|
Rating Explanation |
Minimal degree of safety it carry very high
credit risk. |
|
Date |
November 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 DENIED
Management Non Co-Operative (91-172-2730920)
LOCATIONS
|
Registered/ Corporate Office : |
SCO 850, Shivalik Enclave, NAC, Manimajra, Chandigarh – 160 101, India
|
|
Tel. No. |
91-172-2660918/ 2604934/ 2730503/ 2730920/ 5061850-53/ 5076458/ 2738827/ 2738828/ 5072079/ 5072079/ 3292003 |
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Fax No. |
91-172-2660920/ 2730504/ 2736294 |
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E-Mail : |
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Website |
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Factory 1 : |
Village Bhagwanpura, Barwala Road, Near Derabassi, District Mohali,
Punjab, India |
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Tel. No.: |
91-1762-231072/231048/233130 |
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Fax No.: |
91-1762-31073 |
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E-Mail : |
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Location : |
Owned |
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Factory 2 : |
SIDCO, Industrial Growth Centre, Jammu, Jammu and Kashmir, India |
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Research and
Development Facility : |
Plot No. E-5, Industrial Area, Phase II, Mohali, |
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International Marketing : |
711-712, Modi Tower, 98, Nehru Place, New Delhi – 110 019, India |
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Tel. No.: |
91-11-26226140-43 |
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Fax No.: |
91-11-264146140 |
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E-Mail : |
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Mumbai Office : |
The Submit Business Bay, 102-03, Level-1, Service Road, Western Express Highway, Villey Parle (East), Mumbai - 400 052, Maharashtra, India |
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Tel. No.: |
91-22-42288300 |
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Fax No.: |
91-22-26184120 |
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E-Mail : |
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US Operations : |
IND-SWIFT Laboratories Inc., 3500, |
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Tel. No.: |
+1-9084211234 |
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Fax No.: |
+1-9083251613 |
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E-Mail : |
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EU Marketing Operations : |
IND-SWIFT Laboratories Limited, 25 Moorgate, London EC2R 6AY, United Kingdom |
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Tel. No.: |
+44-77-94385752 |
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E-Mail : |
DIRECTORS
As on: 31.03.2013
|
Name : |
Mr. S.R. Mehta |
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Designation : |
Chairman |
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Name : |
Mr. N.R. Munjal |
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Designation : |
Vice-Chairman cum Managing Director |
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Date of Birth/Age : |
09.02.1952 |
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Qualification : |
B.Sc. |
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Date of Appointment : |
04.01.1995 |
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|
Name : |
Mr. Himanshu Jain |
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Designation : |
Joint Managing Director |
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Name : |
Mr. Rishav Mehta |
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Designation : |
Executive Director |
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Name : |
Dr. V.R. Mehta |
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Designation : |
Director |
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Date of Birth/Age : |
30.11.1956 |
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Qualification : |
M. Sc. ( |
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Date of Appointment : |
31.07.2003 |
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Name : |
Dr. G. Munjal |
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Designation : |
Director |
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Name : |
Mr. K.M.S. Nambiar |
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Designation : |
Director |
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Name : |
Dr. H.P.S. Chawla |
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Designation : |
Director |
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Name : |
Mr. T.S. Bhattacharya |
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Designation : |
Director |
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Name : |
Dr. J.K. Kakkar |
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Designation : |
Director |
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Name : |
Mr. Pradeep Kumar |
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Designation : |
Director |
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Name : |
Mr. R.K. Ummat |
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Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Pardeep Verma |
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Designation : |
GM – Corporate Affairs and Company Secretary |
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SENIOR
MANAGEMENT TEAM : |
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Name : |
Dr. Lalit K. Wadhwa |
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Designation : |
Director and Chief Operating Officer |
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Name : |
Mr. Vijay Kumar |
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Designation : |
Director Marketing and Special Projects |
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Name : |
Mr. N.K. Bansal |
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Designation : |
Chief Financial Officer |
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Name : |
Mr. Vikas Narendra |
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Designation : |
President-US Operations |
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Name : |
Mr. G.K. Sharma |
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Designation : |
Manufacturing Head |
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Name : |
Mr. Subodh Gupta |
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Designation : |
Member Executive Board |
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Name : |
Dr. Rajesh Naik |
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Designation : |
Senior Vice-President (R&D and CRAMS) |
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Name : |
Mr. Atul Choubey |
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Designation : |
Vice President (HR) |
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Name : |
Mr. Ajay K. Srivastava |
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Designation : |
Vice President (Derabassi API facility) |
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Name : |
Mr. Sandeep Singh |
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Designation : |
Vice President (Procurement) |
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Name : |
Saranjai Tyagi |
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Designation : |
Vice President (QA) |
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Name : |
Mr. Rakesh Bahuguna |
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Designation : |
Vice President (QC) |
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COMMITTEES OF
THE BOARD : |
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AUDIT COMMITTEE : |
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Name : |
Mr. K.M.S. Nambiar |
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Designation : |
Chairman |
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Name : |
Dr. J.K. Kakkar |
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Designation : |
Member |
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Name : |
Mr. R.K. Ummat |
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Designation : |
Member |
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|
Name : |
Mr. S.R. Mehta |
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Designation : |
Member |
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REMUNERATION
COMMITTEE : |
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Name : |
Mr. K.M.S. Nambiar |
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Designation : |
Chairman |
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|
Name : |
Mr. R.K. Ummat |
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Designation : |
Member |
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|
Name : |
Mr. Pradeep Kumar |
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Designation : |
Member |
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Name : |
Dr. H.P.S. Chawla |
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Designation : |
Member |
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|
Name : |
S.R. Mehta |
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Designation : |
Member |
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SHARE TRANSFER
AND SHAREHOLDER / INVESTOR GRIEVANCE COMMITTEE : |
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|
Name : |
Mr. K.M.S. Nambiar |
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Designation : |
Chairman |
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|
Name : |
Dr. J.K. Kakkar |
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Designation : |
Member |
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|
Name : |
Mr. N.R. Munjal |
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Designation : |
Member |
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|
Name : |
Mr. S.R. Mehta |
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Designation : |
Member |
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COMPENSATION
COMMITTEE : |
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Name : |
Dr. J.K. Kakkar |
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Designation : |
Chairman |
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|
Name : |
Mr. K.M.S. Nambiar |
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Designation : |
Member |
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|
Name : |
Mr. R.K. Ummat |
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Designation : |
Member |
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SUB-COMMITTEE OF
BOARD : |
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|
Name : |
Mr. N.R. Munjal |
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Designation : |
Chairman |
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|
Name : |
Mr. Dr. J.K. Kakkar |
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Designation : |
Member |
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|
Name : |
Mr. K.M.S. Nambiar |
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Designation : |
Member |
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|
Name : |
Mr. Himanshu Jain |
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Designation : |
Member |
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|
Name : |
Dr. H.P.S. Chawla |
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Designation : |
Member |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 31.03.2014
|
Category of Shareholders |
No. of Shares |
Percentage of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
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|
2216240 |
5.41 |
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|
19340611 |
47.24 |
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|
21556851 |
52.66 |
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|
|
Total shareholding
of Promoter and Promoter Group (A) |
21556851 |
52.66 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
200 |
0.00 |
|
|
1646824 |
4.02 |
|
|
1647024 |
4.02 |
|
|
|
|
|
|
7985486 |
19.51 |
|
|
|
|
|
|
6777746 |
16.56 |
|
|
2787048 |
6.81 |
|
|
185540 |
0.45 |
|
|
185540 |
0.45 |
|
|
17735820 |
43.32 |
|
Total Public
shareholding (B) |
19382844 |
47.34 |
|
Total (A)+(B) |
40939695 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
23500 |
0.00 |
|
|
23500 |
0.00 |
|
Total (A)+(B)+(C) |
40963195 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Seller of Active Pharmaceutical Ingredients (API) and
Advanced Intermediates. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Tel No.: 91-22-2700915
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Jain and Associates Chartered Accountants, |
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Address : |
SCO 819-20, Sector 22-A, Chandigarh - 160 022, India |
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Solicitors : |
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|
Name : |
P.K. Goklaney
and Company Advocate and Solicitors |
|
Address : |
#38, Sector 16A, Chandigarh – 160 015, India |
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Associates : |
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Subsidiaries : |
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CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital : Rs.600.000
Millions
Issued, Subscribed & Paid-up Capital : Rs.409.632 Millions
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,00,00,000 |
Equity Shares |
Rs.10/- each |
Rs.600.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,92,70,470 |
Equity Shares |
Rs.10/- each |
Rs.392.705
Millions |
|
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|
Share held by each
shareholders holding more than 5 % shares
|
Name |
No. of shares |
|
Ind Swift Limited |
9499720 (24.190%) |
|
Essix Bioscience Limited |
5491801 (13.985%) |
During the year,
Company has made following preferential allotments.
|
Date of Allotment |
Type |
Equity Share Issued |
|
19-4-2012 |
Zero Coupon Optionally Convertible Warrants |
13,15,000 |
|
30-05-2012 |
ESOP |
10,000 |
The proceeds of preferential allotments was fully utilised towards the expenditure/projects/investments/product development undertaken by the company.
The Company has ESOP Scheme called “ESOP 2006”. During the year, Company has granted no Stock Option to its employees. Deffered employee compensation cost is being ammortised over a period of three years, being the vesting period and on proportionate basis. During the year, the independent directors have opted 10,000 options which were granted to them in earlier year and the same has been allotted to them in form of equity shares.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
392.705 |
379.455 |
342.231 |
|
(b) Reserves & Surplus |
8032.285 |
7830.861 |
5358.261 |
|
(c) Money
received against share warrants |
93.100 |
27.122 |
100.237 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
8518.090 |
8237.438 |
5800.729 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
8181.644 |
7110.429 |
5994.007 |
|
(b) Deferred tax liabilities (Net) |
394.181 |
403.767 |
433.551 |
|
(c) Other long term
liabilities |
72.348 |
234.443 |
170.600 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
8648.173 |
7748.639 |
6598.158 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
3937.372 |
3018.308 |
2197.901 |
|
(b) Trade
payables |
2142.848 |
2384.766 |
2326.441 |
|
(c) Other
current liabilities |
268.855 |
488.769 |
164.216 |
|
(d) Short-term
provisions |
126.595 |
174.621 |
219.561 |
|
Total Current
Liabilities (4) |
6475.670 |
6066.464 |
4908.119 |
|
|
|
|
|
|
TOTAL |
23641.933 |
22052.541 |
17307.006 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
11301.948 |
9020.333 |
5506.208 |
|
(ii)
Intangible Assets |
2176.487 |
1366.921 |
1508.336 |
|
(iii) Capital
work-in-progress (Tangible) |
993.213 |
1620.892 |
3152.962 |
|
(iv)
Capital work-in-progress (Intangible) |
619.789 |
1321.394 |
0.000 |
|
(v) Assets held for disposal |
22.336 |
22.336 |
22.336 |
|
Total |
15113.773 |
13351.876 |
10189.842 |
|
Accumulated Depreciation |
1806.822 |
1322.945 |
1566.111 |
|
Net Block |
13306.951 |
12028.931 |
8623.731 |
|
(b) Non-current Investments |
271.714 |
272.303 |
280.796 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
17.599 |
16.476 |
20.731 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
13596.264 |
12317.710 |
8925.258 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
1.000 |
21.000 |
301.000 |
|
(b)
Inventories |
4514.417 |
4938.092 |
3655.472 |
|
(c) Trade
receivables |
3938.654 |
2818.028 |
2870.545 |
|
(d) Cash
and cash equivalents |
177.506 |
462.296 |
484.225 |
|
(e)
Short-term loans and advances |
1414.092 |
1495.415 |
1070.506 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
10045.669 |
9734.831 |
8381.748 |
|
|
|
|
|
|
TOTAL |
23641.933 |
22052.541 |
17307.006 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operation |
10827.008 |
13207.813 |
10197.254 |
|
|
|
Other Income |
178.486 |
322.184 |
104.167 |
|
|
|
TOTAL (A) |
11005.494 |
13529.997 |
10301.421 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
5564.564 |
7204.944 |
4338.524 |
|
|
|
Purchase of Stock In Trade |
3012.159 |
4003.457 |
4565.333 |
|
|
|
Change in Inventories of FG/WIP/Stock in trade |
92.206 |
(812.072) |
(1295.010) |
|
|
|
Employee benefits expense |
387.487 |
271.547 |
199.935 |
|
|
|
Other Expenses |
1067.164 |
785.001 |
680.769 |
|
|
|
Exceptional items |
41.391 |
2.087 |
3.275 |
|
|
|
Extra ordinary Items |
100.000 |
0.000 |
(30.677) |
|
|
|
TOTAL (B) |
10264.971 |
11454.964 |
8462.149 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
740.523 |
2074.033 |
1839.272 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1396.147 |
845.470 |
558.718 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(655.624) |
1228.563 |
1280.554 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
543.506 |
398.609 |
409.299 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(1199.130) |
829.954 |
871.255 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(9.419) |
(34.447) |
(4.907) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(1189.711) |
864.401 |
876.162 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3295.331 |
2430.930 |
1638.490 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Provision for Dividend on Equity Shares |
0.000 |
0.000 |
34.220 |
|
|
|
Provision for Equity Dividend Tax |
0.000 |
0.000 |
5.690 |
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
43.810 |
|
|
BALANCE CARRIED
TO THE B/S |
2105.619 |
3295.331 |
2430.930 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Goods |
5866.355 |
5799.980 |
3994.680 |
|
|
TOTAL EARNINGS |
5866.355 |
5799.980 |
3994.680 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
3622.938 |
4460.030 |
1238.085 |
|
|
|
Capital Goods |
0.000 |
0.000 |
84.844 |
|
|
TOTAL IMPORTS |
3622.938 |
4460.030 |
1322.929 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
|
|
|
|
|
|
- Basic |
(30.35) |
24.10 |
29.76 |
|
|
|
- Diluted |
(30.35) |
23.25 |
27.57 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
30.06.2013 |
30.09.2013 |
|
Net Sales |
|
2531.900 |
2379.300 |
|
Total Expenditure |
|
2192.200 |
1984.400 |
|
PBIDT (Excl OI) |
|
339.700 |
394.900 |
|
Other Income |
|
0.000 |
0.000 |
|
Operating Profit |
|
339.700 |
394.900 |
|
Interest |
|
272.200 |
308.700 |
|
Exceptional Items |
|
05.500 |
(06.200) |
|
PBDT |
|
73.000 |
80.000 |
|
Depreciation |
|
152.000 |
165.900 |
|
Profit Before Tax |
|
(79.000) |
(85.900) |
|
Tax |
|
0.000 |
(0.200) |
|
Provisions and contingencies |
|
0.000 |
0.000 |
|
Profit After Tax |
|
(79.000) |
(85.700) |
|
Extraordinary Items |
|
0.000 |
0.000 |
|
Prior Period Expenses |
|
0.000 |
0.000 |
|
Other Adjustments |
|
0.000 |
0.000 |
|
Net Profit |
|
(79.000) |
(85.700) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(10.81)
|
6.39 |
8.51 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(11.08)
|
6.28 |
8.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(5.09)
|
4.12 |
6.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.14)
|
0.10 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.42
|
1.23 |
1.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.55
|
1.60 |
1.71 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
342.231 |
379.455 |
392.705 |
|
Reserves & Surplus |
5,358.261 |
7,830.861 |
8,032.285 |
|
Net
worth |
5,700.492 |
8,210.316 |
8,424.990 |
|
|
|
|
|
|
long-term borrowings |
5,994.007 |
7,110.429 |
8,181.644 |
|
Short term borrowings |
2,197.901 |
3,018.308 |
3,937.372 |
|
Total
borrowings |
8,191.908 |
10,128.737 |
12,119.016 |
|
Debt/Equity
ratio |
1.437 |
1.234 |
1.438 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
10,197.254 |
13,207.813 |
10,827.008 |
|
|
|
29.523 |
(18.026) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
10,197.254 |
13,207.813 |
10,827.008 |
|
Profit |
876.162 |
864.401 |
(1,189.711) |
|
|
8.59% |
6.54% |
(10.99%) |
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 |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
LONG TERM
BORROWINGS |
|
|
|
Fixed Deposits |
559.475 |
372.419 |
|
Term Loans andAdvances From Others |
56.965 |
85.653 |
|
SHORT TERM
BORROWINGS |
|
|
|
Fixed Deposits |
525.299 |
506.379 |
|
ICD |
50.704 |
226.501 |
|
Total |
1192.443 |
1190.952 |
LITIGATION DETAILS
PUNJAB AND HARYANA HIGH COURT
CASE STATUS INFORMATION SYSTEM
Case Status : PENDING
|
Status
of INCOME TAX
APPEAL 144
of 2011 COMMI. OF IT-II,
CHD
Vs.
M/S IND SWIFT LABORATORIES LTD Pet's Adv.
: URVASHI DHUGGA
Last Listed On : No Date
Mentioned List Type : Ordinary
FIR No. : NO FIR DETAILS AVAILABLE /
NOT A CRIMINAL CASE Complaint No. : NO COMPLAINT DETAILS
AVAILABLE Category : STATUTORY APPEALS INCOME TAX
Last Hearing Detail 1 : Before MR.
JUSTICE ADARSH KUMAR GOEL,MR. JUSTICE AJAY KUMAR MITTAL ,--- at
Bench Sl. No : 208 Last Hearing Detail 2 : NO BENCH
MENTIONED
Case Updated
on: Thursday, September 12, 2013 |
OPERATIONS AND
BUSINESS PERFORMANCE
The shrinking operating profit margins, low liquidity, escalating debt cost, increasing competition and adverse market conditions have become major concern for the Company in the last financial year. Despite of all the financial challenges the operations of the Company were not affected and The Company has recorded a turnover of Rs.11005.494 millions during 2012-13 against the turnover of Rs.13529.997 million during 2011-12.
The Company's Earnings before interest, Depreciation Tax and Allowances ( EBIDTA ) during 2012-13 was Rs. 883.090 million. However Company suffered a loss of Rs.1189.711 million during 2012-13 against net profit of Rs.864.401 millions in 2011-12. The Earning per Share also reduced to Rs. (30.35) per share from Rs.24.10 per share.
MANAGEMENT DISCUSSION
AND ANALYSIS REPORT
INDUSTRY STRUCTURE
AND DEVELOPMENT
The Global Pharma Market
The world pharmaceutical market has grown two times in values since 2000 primarily due to increased use of medicines around the world, global economic growth and faster regulatory approvals. The global market grew by around 3% in 2012. While the developed market grew at an average 2%, the pharmerging markets have grown by around 12%. The top five pharmaceutical markets in the world remained the US, Japan, Germany, France and china withUSrepresenting39%of the global prescription pharmaceuticals sales.
The world population is expected to grow to around 8 Bn by 2050. In addition, there has been an increase in the number of people having access to healthcare. Global spending on medicines is expected to reach USD 1.2 trillion by 2016 reflecting growth of 3-6% over the four year period compared to 6.2% annual growth over past five years.
2012 was the transition year for generics as drugs having sales value USD 44 Bn, have lost their patent protection during the current year. Although generics-focused companies will continue to benefit from patent expiration in 2013, there will not be to the same extent as in 2011-2012, when a slew of blockbuster drugs came off patent. During the next 4-5 years drugs having value of around USD 75-80 Bn are going to be off patent which will be in the range ofUSD15-25BNper year.Along with this many markets like Europe, Japan&India (some parts) have increased the push for the use of the generics over branded Drugs and even INN (International Nonproprietary Name) prescribing have been introduced in some countries. In recent years many small molecules have been converted into generics and loss of exclusivity of blockbuster drugs has increased the importance of the generic drugs in the industry.
Alarge number of patent expiry offer a strong growth in the developed market for the generic segment. Generic segment contributed around 25% of the world pharmaceutical market and is expected to reach 30-35% of the total global pharma spending by 2016 with aCAGRof 12- 13%compared witha1-2%CAGRin the branded market.
At present although growth is the mature market is very low as compared to the high growth in the Pharmerging market, over 80% sale of the NCE's ( New Chemical Entities) are coming from the major developed market whereas the top 20 brands of the Pharmerging market are too old i.e. launched 11-20 years ago. Products are often launched first in the most commercially attractive markets, whose characteristics include the pricing and reimbursement environment, regulatory requirements and in some case the impact of reference pricing systems,
whereby the reimbursed price in some markets is used to set the price in others.
The developed markets have 65% share of the global market
which is expected to reduce to 57% by 2016, whereas the phaemerging market's
share will be around 30%. Essentially more than 50% of the growth of the global
pharma market will be driven by pharmerging markets because of the increased
contribution to the global market and the higher growth rate compared to the
developed market.
Outlook on Threats,
Risks and Concerns
Other than the risks faced by the pharmaceuticals industry at large, global generic companies face additional risks associated with patent litigations, regulatory challenges and product liability. While the generic companies have an opportunity to genericise patented products in the developed markets, such opportunities reflect the “patent cliff” of products going off-patent and not being replaced by newer patent opportunities. Innovator pharmaceutical companies also continuously work to find ways to “evergreen” their patented drugs to delay the entry of generic versions of innovator medicines. In addition, due to growth opportunities in off-patent products, with a view to retain market share, the innovator companies have also started to participate in this segment, despite the higher competitiveness and price erosion in the generics market. Further, competition in generics is not just in the developed world, but also in the emerging markets, which are projected to grow at a faster growth rate than developed markets. This competition comes not just from generic companies but also from innovator companies that seek to maintain their position post genericisation of patented products.
The manufacture of pharmaceuticals is strictly regulated across the world. If any company fails to comply with applicable regulations at any step, there could be regulator enforced shutdown of the concerned production facilities. Other risks include, delay in approval(s) or revocation of drug approvals previously granted, failure or delay in obtaining approvals for new products, product recalls of existing drugs sold in the market and prohibition on the sale or import of non-complying products.
Regulators worldwide continue to raise the bar for quality expectation and compliance requirements with increasingly more severe consequences for non-compliance.
COMPANY'S OUTLOOK
Key Business
Highlights
2012-13 was indeed a challenging year for the company . The year 2012-13 saw the Company going into CDR due to - huge investment in R&D and delay in return from these investments; huge investment in capital expansion through debts, cash flow from operations not being sufficient to meet debt obligations; pressure on margins of existing products, the rising interest and finance cost caused higher outflows to the company; fire incident at one of the key job work facility caused human casualities a part form loss of costly raw material and forex losses.
Despite a slow growth environment across global markets, the company put in significant efforts to keep business on track. Severe liquidity crisis due to reasons explained above and enhanced management focus on getting the CDR approved and restructuring its business did not stop the company from maintaining the current level of its operations and achieving the targets as projected under the CDR.
During the year the Company achieved a turnover of Rs.11005.490 Millions. The Exports during the year stood at Rs. 5985.59 Millions. Company is well placed globally to claim the opportunities thrown open by the patents going off patent for major drugs, majority of which Ind-Swift Labs is already present. Company's strong research and technical skills has made it a preferred supplier of APIs and Intermediates. Company is presently manufacturing more than 40 products and across 16 therapeutic segments, few of them growing by more than the industry growth rates. Company has filed more than 58 DMF's and it has filed DMF's even for the Drugs going off patent by 2022-2023. The benefits of which will start coming from 2014-2015 onwards.
UNAUDITED FINANCIAL RESULTS
FOR THE QUARTER ENDED 31ST DECEMBER 2013
(Rs.
In Millions)
|
Particulars |
Quarter Ended
31.12.2013 |
Quarter Ended
30.09.2013 |
Nine Month Ended 31.12.2013 |
|
|
|
Unaudited |
|
|
Income from Operations:
|
|
|
|
|
(a) Net Sales/Incomes from Operations |
2648.078 |
2349.678 |
7307.627 |
|
(b)
Other Operating Income |
24.729 |
29.580 |
96.381 |
|
Total Net Sales / Operating Income |
2672.807 |
2379.258 |
7404.008 |
|
Total Expenditure : |
|
|
|
|
a Cost of Materials Consumed |
1118.893 |
1220.074 |
3332.013 |
|
b. Purchase of stock in Trade |
642.440 |
463.534 |
1830.319 |
|
c.( Increase) /decrease in FG,WIP &
stock in trade |
39.874 |
1.142 |
141.412 |
|
d. Staff cost |
112.880 |
101.243 |
320.064 |
|
e. Depreciation |
177.622 |
165.859 |
495.490 |
|
f. Other
expenditure |
234.551 |
198.410 |
701.549 |
|
TOTAL |
2326.349 |
2150.262 |
6820.847 |
|
Profit(loss)
from Operations before Other Income, Interest & Exceptional Items |
166.458 |
228.996 |
583.161 |
|
Misc Income |
0.000 |
0.000 |
0.000 |
|
Profit(Loss) before Interest & Exceptional Items |
166.458 |
228.996 |
583.161 |
|
Interest |
296.779 |
308.689 |
877.666 |
|
Profit(Loss) after Interest but before Exceptional Items |
(130.321) |
(79.693) |
(294.505) |
|
Exceptional Items Forex Profit/(Loss) |
(5.216) |
(6.176) |
(5.891) |
|
Profit (+)/ Loss (-) from Ordinary Activities before tax |
(135.537) |
(85.869) |
(300.396) |
|
Provision
for taxation |
0.000 |
0.000 |
0.000 |
|
Income Tax adjustment of Previous Year |
0.010 |
(0.175) |
(0.165) |
|
Mat Credit Entitlement |
0.000 |
0.000 |
0.000 |
|
Provision for defferred Tax |
0.000 |
0.000 |
0.000 |
|
Net Profit / (Loss) From ordinary
activities after Tax |
(135.537) |
(85.694) |
(300.230) |
|
Paid up
Equity Share Capital(Face Value of Rs. 10/- per Share) |
392.705 |
392.705 |
392.705 |
|
Reserve excluding revaluation reserves |
- |
- |
- |
|
EPS Rs. |
|
|
|
|
Basic |
(3.45) |
(2.18) |
(7.65) |
|
Diluted |
(3.45) |
(2.18) |
(7.65) |
|
|
|
|
|
|
PARTICULARS OF SHAREHOLDING |
|
|
|
|
Public Shareholding |
|
|
|
|
Numbers of shares |
19406344 |
19406344 |
19406344 |
|
% of Shareholding |
49.42 |
49.42 |
49.42 |
|
|
|
|
|
|
Promoters and Promoter group shareholding |
|
|
|
|
a) Pledged/Encumbered |
|
|
|
|
-Number of Shares |
19864126 |
19864126 |
19864126 |
|
-
Percentage of shares (as a % of total shareholding of promoter &
promoters group) |
100 |
100 |
100 |
|
-
Percentage of shares (as a % of total share capital of the Company) |
50.58 |
50.58 |
50.58 |
|
|
|
|
|
|
b) Non-encumbered |
|
|
|
|
-
Number of Shares |
Nil |
Nil |
Nil |
|
-
Percentage of shares (as a % of total shareholding of promoter &
promoters group) |
|
|
|
|
-
Percentage of shares (as % of total share capital of the Company) |
Nil |
Nil |
Nil |
|
|
Quarter Ended
31.12.2013 |
|
Pending at
the beginning of the Quarter |
Nil |
|
Received
during the Quarter |
2 |
|
Disposed off
during the quarter |
2 |
|
Remaining
unresolved at the end of the quarter |
Nil |
NOTES: -
1. Under the provisions of the Companies Act, 1956, the company has got Fixed Deposit Scheme restructed through Hon'ble Company Law Board. The company has been granted extension of time in repayment of these deposits.
2. The above results have been reviewed by the Audit Committee and approved by
the Board of Directors at their respective Meetings held on February 10, 2014.
3. The previous period figures have been re-grouped and re-arranged wherever
necessary.
4. The Company is exclusively in the Pharmaceutical Business segment.
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10423265 |
17/04/2013 |
250,000,000.00 |
MAHINDRA AND MAHINDRA FINANCIAL SERVICES LIMITED |
GATEWAY BUILDING, APOLLO BUNDER, MUMBAI, Maharashtra - 400001, INDIA |
B74240045 |
|
2 |
10408579 |
04/03/2013 |
11,718,200,000.00 |
STATE BANK OF INDIA |
SCO - 103 - 106, SECTOR - 17 B, CHANDIGARH, Chandigarh - 160017, INDIA |
B73867079 |
|
3 |
10356105 |
31/03/2012 |
55,000,000.00 |
SIEMENS FINANCIAL SERVICES PRIVATE LIMITED |
130, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, Maharashtra - 400018, INDIA |
B39750930 |
|
4 |
10330322 |
04/01/2012 |
300,000,000.00 |
STATE BANK OF HYDERABAD |
SCO 62-63, SECTOR - 34A, CHANDIGARH, Chandigarh - 160034, INDIA |
B30070148 |
|
5 |
10323609 |
24/11/2011 |
400,000,000.00 |
STATE BANK OF TRAVANCORE |
SCO - 206 - 207, SECTOR - 34 A, CHANDIGARH, Chandigarh - 160034, INDIA |
B28006013 |
|
6 |
10317691 |
17/04/2013 * |
500,000,000.00 |
BANK OF INDIA |
STAR HOUSE, C-5, G BLOCK, BANDRA KURLA COMPLEX, |
B74976259 |
|
7 |
10313008 |
28/09/2011 |
30,000,000.00 |
INDIABULLS HOUSING FINANCE LIMITED |
F-60, MALHOTRA BUILDING, 2ND FLOOR, CONNAUGHT PLACE, NEW DELHI, Delhi - 110001, INDIA |
B23498702 |
|
8 |
10296105 |
30/06/2011 |
250,000,000.00 |
CANARA BANK |
ADVANCES SECTION, SCO 311 - 312, SECTOR - 35 B, |
B16521387 |
|
9 |
10289168 |
17/04/2013 * |
500,000,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH, SCO - 103 - 107, CHANDIGARH, Chandigarh - 160018, INDIA |
B74570383 |
|
10 |
10296547 |
25/05/2011 |
105,000,000.00 |
SBI GLOBAL FACTORS LIMITED |
6TH FLOOR, METROPOLITAN BUILDING, BANDRA-KURLA, COMPLEX, BANDRA(EAST), MUMBAI, Maharashtra - 400051, INDIA |
B16620064 |
|
11 |
10291634 |
17/04/2013 * |
200,000,000.00 |
L & T FINANCE LIMITED |
L&T HOUSE, BALLARD ESTATE, MUMBAI, Maharashtra - 400001, INDIA |
B73476459 |
|
12 |
10274092 |
13/10/2011 * |
300,000,000.00 |
EXPORT IMPORT BANK OF INDIA |
CENTRE ONE BUILDING ,FLOOR 21, WORLD TRADE CENTER COMPLEX, CURRE PARADE, MUMBAI, Maharashtra - 400005, INDIA |
B23170400 |
|
13 |
10274356 |
21/02/2011 |
25,000,000.00 |
RELIGARE FINVEST LIMITED |
D - 3, P 3 B,, DISTRICT CENTRE, SAKET, NEW DELHI, Delhi - 110017, INDIA |
B08563835 |
|
14 |
10260537 |
26/07/2011 * |
350,000,000.00 |
THE CATHOLIC SYRIAN BANK LIMITED |
SCO 114 - 115, SECTOR - 34 A, CHANDIGARH, Chandigarh - 160022, INDIA |
B17638289 |
|
15 |
10260290 |
26/07/2011 * |
910,200,000.00 |
BANK OF BARODA |
SECTOR - 22 B, CHANDIGARH, Chandigarh - 160022, INDIA |
B18008466 |
|
16 |
10253364 |
22/11/2010 |
150,000,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH, SCO - 103 - 107, SECTOR - 8 C, CHANDIGARH, Chandigarh - 160018, INDIA |
B00471409 |
|
17 |
10248843 |
26/07/2011 * |
500,000,000.00 |
CENTRAL BANK OF INDIA |
SCO 68 - 69, SECTOR - 17 B, CHANDIGARH, Chandigarh - 160017, INDIA |
B18000059 |
|
18 |
10245253 |
18/04/2011 * |
125,000,000.00 |
ICICI BANK LIMITED |
SCO - 129 - 130, SECTOR - 9 C, CHANDIGARH, Chandigarh - 160017, INDIA |
B10479962 |
|
19 |
10227479 |
18/03/2011 * |
100,000,000.00 |
L & T FINANCE LIMITED |
L&T HOUSE, BALLARD ESTATE, MUMBAI, Maharashtra - 400001, INDIA |
B09121427 |
|
20 |
10233562 |
18/03/2011 * |
300,000,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH, SCO - 103 - 107, CHANDIGARH, Chandigarh - 160018, INDIA |
B08886756 |
|
21 |
10220861 |
18/03/2011 * |
300,000,000.00 |
ALLAHABAD BANK |
SECTOR - 8 C,, MADHYA MARG,, CHANDIGARH, Chandigarh - 160017, INDIA |
B09120387 |
|
22 |
10208665 |
08/09/2010 * |
225,000,000.00 |
BANK OF INDIA |
SCO 81 - 82, 2ND FLOOR, BANK SQUARE, SECTOR - 17 |
A94160686 |
|
23 |
10204598 |
24/02/2010 |
150,000,000.00 |
THE CATHOLIC SYRIAN BANK LIMITED |
SCO 114 - 115, SECTOR - 34 A, CHANDIGARH, Chandigarh - 160022, INDIA |
A80405442 |
|
24 |
10191428 |
08/09/2010 * |
150,000,000.00 |
EXPORT - IMPORT BANK OF INDIA |
CENTER ONE BUILDING, FLOOR - 21, WORLD TRADE CEN |
A94268729 |
|
25 |
10183686 |
08/09/2010 * |
120,000,000.00 |
STATE BANK OF HYDERABAD |
SCO 62 - 63, SECTOR - 34 A, CHANDIGARH, Chandigarh - 160031, INDIA |
A94869641 |
|
26 |
10180924 |
08/09/2010 * |
200,000,000.00 |
STATE BANK OF INDORE |
SCO 118 - 120, SECTOR - 34 A, CHANDIGARH, Chandigarh - 160022, INDIA |
A95606042 |
|
27 |
10174749 |
18/09/2009 * |
950,000,000.00 |
DEG - DEUTSCHE INVESTITIONS-UND ENTWICKLUNGSGESELL |
KAEMMERGASSE 22, COLOGNE, - 50449, GERMANY |
A70796362 |
|
28 |
10173337 |
19/08/2009 |
150,000,000.00 |
IDBI TRUSTEESHIP SERVICES LTD. |
ASIAN BUILDING, GROUND FLOOR 17, R, KAMANI MARG, |
A68811652 |
|
29 |
10169010 |
08/09/2010 * |
500,000,000.00 |
IFCI LIMITED |
IFCI TOWER61 NEHRU PLACE, NEW DELHI, Delhi - 110019, INDIA |
A93891638 |
|
30 |
10166386 |
08/09/2010 * |
200,000,000.00 |
THE CATHOLIC SYRIAN BANK LIMITED |
SCO 114 - 115, SECTOR - 34 A, CHANDIGARH, Chandigarh - 160022, INDIA |
A93926111 |
|
31 |
10164586 |
08/09/2010 * |
200,000,000.00 |
STATE BANK OF TRAVANCORE |
SCO 206 - 207, SECTOR - 34 A, CHANDIGARH, Chandigarh - 160034, INDIA |
A94767282 |
|
32 |
10168967 |
27/12/2011 * |
450,000,000.00 |
IDBI Bank Limited |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, Maharashtra - 400005, INDIA |
B28499275 |
|
33 |
10120656 |
04/04/2009 * |
200,000,000.00 |
STATE BANK OF INDIA |
SCO 103 - 106, SECTOR - 17 B, CHANDIGARH, Chandigarh - 160017, INDIA |
A60002375 |
|
34 |
10117553 |
04/04/2009 * |
150,000,000.00 |
THE CATHOLIC SYRIAN BANK LIMITED |
SCO 114 - 115, SECTOR - 34 A, CHANDIGARH, Chandigarh - 160022, INDIA |
A60503489 |
|
35 |
10117552 |
12/01/2009 * |
100,000,000.00 |
THE BANK OF RAJASTHAN LIMITED |
SCO 127 - 128, SECTOR - 17 C, CHANDIGARH, Chandigarh - 160017, INDIA |
A54200126 |
|
36 |
10112821 |
12/01/2009 * |
150,000,000.00 |
BANK OF INDIA |
SECTOR - 17 B, CHANDIGARH, Chandigarh - 160017, INDIA |
A54327234 |
|
37 |
10112822 |
19/06/2008 |
250,500,000.00 |
BANK OF INDIA |
SECTOR - 17 B, CHANDIGARH, Chandigarh - 160017, INDIA |
A41885203 |
|
38 |
10102854 |
02/04/2009 * |
150,000,000.00 |
EXPORT - IMPORT BANK OF INDIA |
CENTER ONE BUILDING, FLOOR - 21, WORLD TRADE CENTER
COMPLEX, CUFFE PARADE, MUMBAI, Maharashtra - |
A61140547 |
|
39 |
10074738 |
23/06/2008 * |
100,000,000.00 |
TECHNOLOGY DEVELOPMENT BOARD |
WING A,GROUND FLOOR,VISHWAKARMA BHAWAN, SHAHEEDJEET SINGH MARG, NEW DELHI, Delhi - 110016, INDIA |
A41036062 |
|
40 |
10074740 |
04/04/2009 * |
150,000,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH, SCO 103 - 107, SECTOR - 8 C, C |
A62709878 |
|
41 |
10058021 |
23/06/2008 * |
100,000,000.00 |
THE CATHOLIC SYRIAN BANK LIMITED |
ST. MARY'S COLLEGE ROAD, THRISSYUR DISTRICT, KERALA, Kerala - 680006, INDIA |
A41584020 |
|
42 |
10060247 |
16/06/2007 |
100,000,000.00 |
BARCLAYS BANK PLC |
FIRST FLOOR PARAMANNA LAYOUT, BH ROAD NELAMANGALA |
A18965988 |
|
43 |
10060248 |
16/06/2007 |
100,000,000.00 |
BARCLAYS BANK PLC |
FIRST FLOOR PARAMANNA LAYOUT, BH ROAD NELAMANGALA |
A18825547 |
|
44 |
80033772 |
28/08/2007 * |
300,000,000.00 |
STATE BANK OF INDIA |
SPECIALISED COMMERCIAL BRANCH, SCO 103-107, SECTOR 17 B, CHANDIGARH, Chandigarh - 160017, INDIA |
A23333255 |
|
45 |
90170043 |
16/11/2004 |
30,000,000.00 |
INDUSIND BANK LTD. |
SCF 23-24; PHASE 3; B-2; MOHALI, Punjab - 160059,INDIA |
- |
|
46 |
90170017 |
28/09/2004 |
12,000,000.00 |
TECHNOLOGY DEVLOPMENT BOARD |
TECHNOLOGY BHAVAN; NEWMEHRAULI ROAD, NEW DELHI, Delhi - 110016, INDIA |
- |
|
47 |
90169838 |
11/09/2003 |
30,000,000.00 |
INDUSTRIAL INVESTMENT BANK OF INDIA |
19; NETHAJI SUBAHAS ROAD, KOLKATTA, West Bengal - 700001, INDIA |
- |
|
48 |
80033769 |
27/09/2002 |
27,000,000.00 |
Bank of India |
Sector-17, Chandigarh, Chandigarh - 160017, INDIA |
- |
|
49 |
80033770 |
22/08/2002 |
15,000,000.00 |
State Bank of Patiala |
Commercial Branch, Sector 8-C, Chandigarh, Punjab - 160017, INDIA |
- |
|
50 |
80033773 |
06/08/2001 |
50,000,000.00 |
Industrial Development Bank of India |
SCO 72-73,Sector-17, Chandigarh, Chandigarh - 160017, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
Tangible Assets
· Land Free Hold
· Land Lease Hold
· Factory Buildings
· Office Buildings
· Flats
· R&D Buildings
· Building – Pilot Plant
· Plant and Machinery
· R&D Machinery
· Plant and Machinery – Pilot Plant
· Electric Installations – Pilot Plant
· Electric Installations
· Furniture and Fixtures
· Office Equipments
· Vehicles
Intangible Assets
· R&D Technology
AS PER WEBSITE DETAILS:
PRESS RELEASE:
COMPANY LAW BOARD
DISPOSES PETITION FILED BY IND-SWIFT LABORATORIES
Oct 12, 2013
Ind-Swift Laboratories Limited has informed BSE that the Hon’ble Company Law Board has vide its order dated September 30, 2013 disposed of the petition filed by the Company under the provisions of the Companies Act, 1956 for grant of extension for repayment of deposits.
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.60.53 |
|
|
1 |
Rs.101.77 |
|
Euro |
1 |
Rs.83.92 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
- |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
18 |
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.