MIRA
INFORM REPORT
|
Report Date : |
02.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
ALEMBIC PHARMACEUTICALS LIMITED (w.e.f. 12.03.2011) |
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Formerly Known
As : |
ALEMBIC PHARMA LIMITED |
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Registered
Office : |
Alembic Road, Vadodara-390002, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
16.06.2010 |
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Com. Reg. No.: |
04-061123 |
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Capital
Investment / Paid-up Capital : |
Rs.377.032 Millions |
|
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CIN No.: [Company Identification
No.] |
L24230GJ2010PLC061123 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDA03515B |
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PAN No.: [Permanent Account No.] |
AAICA5591M |
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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 of Pharmaceutical Products. |
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No. of Employees
: |
6300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 25187000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Not Available (Case Site Not Working) |
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Comments : |
Subject is an established company having good track record. Financial position of the company is sound. Fundamentals are strong. Trade relations are reported as fair. Business is active. Payment
terms are reported to be regular and as per commitment. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift. It
highlights how as against 51 % in 2005, the emerging economies now account for
close to 56 % of the global purchasing power GDP as per the latest survey. And
with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991. Real
estate outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating AA |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
June 05, 2014 |
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
31-03-2014.
INFORMATION DENIED
MANAGEMENT NON CO-OPERATIVE 991-265-2280550)
LOCATIONS
|
Registered Office / Factory 1 : |
Alembic Road, Vadodara-390002, Gujarat, India |
|
Tel. No.: |
91-265-2280550/2280880 |
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Fax No.: |
91-265-2281508/22847283053333/300 |
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E-Mail : |
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Website : |
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Marketing Office: |
2nd Floor , Prime Corporate Park, Behind ITC
Grand Maratha Sheraton, Sahar Road, Andheri (East), Mumbai - 400099,
Maharashtra, India |
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Tel. No.: |
91 22 30611698 |
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Fax No.: |
91 22 30611682 |
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Factory 2 : |
Plot No.21/22, EPIP-Phase-I, Jhamajri, Baddi, Tehsil – Nalagarh, Solan
– 173205, Himachal Pradesh, India |
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Factory 3 : |
Village Karakhadi, Taluka Padra, District Vadodara, Gujarat, India |
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Factory 4 : |
Panelav, Tal. Halol, District Panchmahal-389350, Gujarat, India |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Chirayu Ramanbhai Amin |
|
Designation : |
Chairman and Managing Director |
|
Address : |
F 10/195, Race Course Circle, Gorti Road, Vadodara – 390007, Gujarat,
India |
|
Date of Birth/Age : |
04.12.1946 |
|
|
|
|
Name : |
Mr. Krishnapuram Ramanathan |
|
Designation : |
Independent Director |
|
Address : |
Srinidhi Bunglow, No. 1, Octroi Naka, Gorti Road, Vadodara – 390007,
Gujarat, India |
|
Date of Birth/Age : |
15.05.1939 |
|
|
|
|
Name : |
Mr. Rajkumar Shreeram Baheti |
|
Designation : |
Director and President-Finance |
|
Address : |
Flat No.402, Samprat Residency, 52, Alkapuri Society, Alkapuri,
Vadodara – 390007, Gujarat, India |
|
Date of Birth/Age : |
24.10.1959 |
|
|
|
|
Name : |
Mr. Pranav Natverlal Parikh |
|
Designation : |
Independent Director |
|
Address : |
18 A, Manek, LD Ruparel Marg, Malbar hill, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
18.02.1943 |
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|
Name : |
Mr. Paresh Saraiya |
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Designation : |
Independent Director |
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|
Name : |
Mr. Pranav Amin |
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Designation : |
Director and President-International Business |
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|
Name : |
Mr. Milin Mehta |
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Designation : |
Independent Director |
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|
Name : |
Mr. Shaunak Amin |
|
Designation : |
Director & President-Branded Formulations Business (w.e.f. 2nd
May, 2013) |
KEY EXECUTIVES
|
Name : |
Mr. Rajkumar Shreeram Baheti |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2014
|
Category of
Shareholder |
Total No. of
Shares |
% of Total No. of
Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
13402430 |
7.11 |
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|
126336190 |
67.02 |
|
|
139738620 |
74.13 |
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|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
139738620 |
74.13 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
2240232 |
1.19 |
|
|
1207039 |
0.64 |
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|
16633560 |
8.82 |
|
|
3600 |
0.00 |
|
|
750 |
0.00 |
|
|
2850 |
0.00 |
|
|
20084431 |
10.65 |
|
|
|
|
|
|
1712256 |
0.91 |
|
|
|
|
|
|
21218663 |
11.26 |
|
|
4949984 |
2.63 |
|
|
811960 |
0.43 |
|
|
267376 |
0.14 |
|
|
16380 |
0.01 |
|
|
528204 |
0.28 |
|
|
28692863 |
15.22 |
|
Total Public shareholding (B) |
48777294 |
25.87 |
|
Total (A)+(B) |
188515914 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
188515914 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pharmaceutical Products. |
GENERAL INFORMATION
|
No. of Employees : |
6300 (Approximately) |
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Bankers : |
¨ AXIS Bank
Limited ¨ Bank of Baroda ¨ HDFC Bank
Limited ¨ IDBI Bank
Limited ¨ Standard
Chartered Bank ¨ The Royal Bank
of Scotland N.V |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
K.S. Aiyar and Company Chartered Accountants |
|
Address : |
Laxmi Estate No. F-07/08, Shakti Mills Lane, Off Dr. E. Moses Road,
Mahalaxmi, Mumbai - 400011, Maharashtra, India |
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Tel. No. : |
91-22-24932502/66551770 |
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Fax No. : |
91-22-66551774 |
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E-Mail : |
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Website
: |
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Subsidiary : |
¨ Alembic Global
Holding SA (Subsidiary of Alembic Pharmaceuticals Limited) ¨ Alembic
Pharmaceuticals Australia Pty Limited (Subsidiary of Alembic Global Holding
SA.) ¨ Alembic
Pharmaceuticals Europe Limited (Subsidiary of Alembic Global Holding SA.) ¨ Alnova
Pharmaceuticals SA (Subsidiary of Alembic Global Holding SA.) ¨ Alembic
Pharmaceuticals Inc. (Subsidiary of Alembic Global Holding SA.) ¨ Alembic Pharmaceuticals Canada Limited (Subsidiary of Alembic Global Holding SA) |
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Associate Companies: |
¨ Alembic Limited ¨ Paushak Limited ¨ Whitefi eld
Chemtech Private Limited ¨ Sierra
Investments Limited ¨ Nirayu Private
Limited ¨ Viramya
Packlight Limited ¨ Quick Flight
Private Limited ¨ Incozen
Therapeutics Private Limited ¨ Shreno Limited ¨ Rhizen
Pharmaceuticals SA |
CAPITAL STRUCTURE
After 07.08.2013
Authorised Capital : Rs. 480.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 377.032
Millions
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000000 |
Equity Shares |
Rs.2/- each |
Rs.400.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
188515914 |
Equity Shares |
Rs.2/- each |
Rs.377.032 Millions |
|
|
|
|
|
Reconciliation of the
number of shares outstanding at the beginning and at the end of the reporting
period
|
Particulars |
31.03.2014 |
|
|
|
No. of Shares |
Rs. in Millions |
|
At the beginning of the period |
188515914 |
377.032 |
|
Issued during the period |
-- |
-- |
|
Outstanding at the end of the period |
188515914 |
377.032 |
The rights, preferences and restrictions
including restrictions on the distribution of dividends and the repayment of
capital
The company is having only one class of shares i.e Equity carrying a nominal value of Rs. 2/- per share.
Every holder of the equity share of the Company is entitled to one vote per share held.
In the event of liquidation of the Company, the equity shareholders will be entitled to receive remaining assets of the Company after the distribution / repayment of all creditors. The distribution to the equity shareholders will be in proportion of the number of shares held by each shareholder.
The Company declares and pays dividend on the equity shares in Indian Rupees. Dividend proposed by the Board of Directors is subject to approval of the shareholders at the ensuing Annual General Meeting.
During the year ended 31st March, 2014 an amount of H 3.00 of dividend per equity share was proposed for the equity shareholders (P.Y H 2.50 per equity share).
Shares in the company held by each shareholder holding more than 5
percent shares specifying the number of shares held
|
Particulars |
31.03.2014 |
|
|
|
No. of Shares |
% of Held |
|
Alembic Limited |
55000000 |
29.18% |
|
Shreno Limited |
18368780 |
9.74% |
|
Sierra Investments Limited |
17167670 |
9.11% |
|
Whitefield Chemtech Limited |
18285230 |
9.70% |
|
Nirayu Private Limited |
16213755 |
8.60% |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
377.032 |
377.032 |
377.032 |
|
(b) Reserves & Surplus |
5919.928 |
4220.606 |
3231.592 |
|
(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) |
6296.960 |
4597.638 |
3608.624 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
522.200 |
705.347 |
948.567 |
|
(b) Deferred tax liabilities (Net) |
227.170 |
138.969 |
95.290 |
|
(c) Other long term liabilities |
127.037 |
127.607 |
122.907 |
|
(d) long-term provisions |
66.806 |
60.606 |
53.904 |
|
Total Non-current Liabilities (3) |
943.213 |
1032.529 |
1220.668 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
254.237 |
701.145 |
1384.349 |
|
(b) Trade payables |
2818.996 |
2342.456 |
1819.275 |
|
(c) Other current
liabilities |
606.212 |
692.529 |
1516.044 |
|
(d) Short-term provisions |
704.845 |
620.550 |
356.634 |
|
Total Current Liabilities (4) |
4384.290 |
4356.680 |
5076.302 |
|
|
|
|
|
|
TOTAL |
11624.463 |
9986.847 |
9905.594 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3969.606 |
3442.215 |
2678.186 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
206.692 |
322.618 |
582.397 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
333.285 |
33.542 |
33.542 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
416.417 |
358.788 |
349.913 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
4926.000 |
4157.163 |
3644.038 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3107.782 |
2668.333 |
2587.415 |
|
(c) Trade receivables |
2605.587 |
2323.830 |
1868.328 |
|
(d) Cash and cash
equivalents |
53.385 |
42.497 |
257.339 |
|
(e) Short-term loans and
advances |
931.709 |
795.024 |
1548.474 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
6698.463 |
5829.684 |
6261.556 |
|
|
|
|
|
|
TOTAL |
11624.463 |
9986.847 |
9905.594 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
18437.871 |
14926.383 |
13743.043 |
|
|
|
Other Income |
31.927 |
39.320 |
14.207 |
|
|
|
TOTAL |
18469.798 |
14965.703 |
13757.250 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
5559.293 |
4702.977 |
5282.376 |
|
|
|
Purchases of Stock-in-Trade |
1980.675 |
1655.905 |
1677.929 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(406.484) |
213.401 |
(644.398) |
|
|
|
Employees benefits expense |
2444.594 |
1937.897 |
1684.582 |
|
|
|
Research and Development Expenses |
1050.963 |
736.328 |
585.821 |
|
|
|
Other expenses |
4218.611 |
3242.227 |
3070.835 |
|
|
|
TOTAL |
14847.652 |
12488.735 |
11657.145 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
3622.146 |
2476.968 |
2100.105 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
98.089 |
145.743 |
262.134 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
3524.057 |
2331.225 |
1837.971 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
404.872 |
349.646 |
336.458 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
3119.185 |
1981.579 |
1501.513 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
736.321 |
407.143 |
296.162 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
2382.864 |
1574.436 |
1205.351 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
759.307 |
536.257 |
216.803 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Debenture Redemption Reserve |
0.000 |
0.000 |
79.160 |
|
|
|
Proposed Final Equity Dividend |
565.548 |
471.290 |
263.922 |
|
|
|
Tax on Proposed Equity Dividend |
96.115 |
80.096 |
42.815 |
|
|
|
Transfer to General Reserve |
1000.000 |
800.000 |
500.000 |
|
|
BALANCE CARRIED
TO THE B/S |
1480.508 |
759.307 |
536.257 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
7501.748 |
4650.158 |
4679.560 |
|
|
|
Royalty |
217.909 |
152.168 |
116.044 |
|
|
TOTAL EARNINGS |
7719.657 |
4802.326 |
4795.604 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1764.920 |
1554.182 |
1863.148 |
|
|
|
Packing Material , Components and Spare parts |
168.272 |
90.897 |
21.803 |
|
|
TOTAL IMPORTS |
1933.192 |
1645.079 |
1884.951 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
12.64 |
8.35 |
6.39 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
12.90 |
10.52 |
8.76 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
16.92 |
13.28 |
10.93 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
28.14 |
20.58 |
16.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.50 |
0.43 |
0.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.12 |
0.31 |
0.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.53 |
1.34 |
1.23 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
377.032 |
377.032 |
377.032 |
|
Reserves & Surplus |
3231.592 |
4220.606 |
5919.928 |
|
Net
worth |
3608.624 |
4597.638 |
6296.960 |
|
|
|
|
|
|
long-term borrowings |
948.567 |
705.347 |
522.200 |
|
Short term borrowings |
1384.349 |
701.145 |
254.237 |
|
Total
borrowings |
2332.916 |
1406.492 |
776.437 |
|
Debt/Equity
ratio |
0.646 |
0.306 |
0.123 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
13743.043 |
14926.383 |
18437.871 |
|
|
|
8.610 |
23.525 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
13743.043 |
14926.383 |
18437.871 |
|
Profit |
1205.351 |
1574.436 |
2382.864 |
|
|
8.77% |
10.55% |
12.92% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Deposits |
|
|
|
Deposits from Shareholders |
9.980 |
41.930 |
|
Deposits from Public |
92.750 |
66.337 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Others |
|
|
|
Varying Coupon repayable within 180 days with an option of roll over |
199.857 |
597.080 |
|
|
|
|
|
Total |
302.587 |
705.347 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10323112 |
02/12/2011 |
780,000,000.00 |
DBS BANK LIMITED |
UPPER GROUND FLOR, BIRLA TOWER, 25 BARAKHAMBA ROAD, NEW DELHI -
110001, INDIA |
B27859248 |
|
2 |
10296745 |
30/06/2011 |
2,420,000,000.00 |
Bank of Baroda & Other Banks |
First Floor, Bank of Baroda Building, R. C. Dutt Road, Vadodara,
Gujarat - 390007, INDIA |
B16625071 |
OPERATIONS:
The Company's Standalone revenues from operations were Rs. 18437.900 millions for the year ended 31st March, 2014 as compared to Rs. 14926.200 millions for the previous year.
The Standalone profit before Interest, Depreciation, Non-recurring Income and expenses and Taxes was Rs. 3590.200 millions for the year under review as compared to Rs. 2437.600 millions for the previous year.
During the year, the interest and financing cost was Rs. 98.100 millions as compared to Rs. 145.700 millions in previous year.
The Company has made Net Profit of Rs. 2382.800 millions on standalone basis for the year as compared to Rs. 1574.500 millions for the previous year.
FIXED ASSETS
·
Free Hold Land
·
Lease Hold Land
·
Buildings
·
Employees Quarters
·
Plant and Equipments
·
R and D Equipments
·
Furniture and Fixtures
·
Vehicles
·
Office Equipments
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.60.85 |
|
|
1 |
Rs.102.69 |
|
Euro |
1 |
Rs.81.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
63 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.