MIRA INFORM REPORT

IDENTIFICATION DETAILS

Name :	CAPLIN POINT LABORATORIES LIMITED

Country :	India

Financials (as on) :	30.06.2013

TAN No.: [Tax Deduction & Collection Account No.]	CHEC00929F

PAN No.: [Permanent Account No.]	AABCC2667F

Legal Form :	A Public Limited Liability company. The company’s Shares are Listed on the Stock Exchanges.

No. of Employees :	300 (Approximately)

BUSINESS DETAILS

Line of Business :

Manufactures and Seller of pharmaceutical formulations.

OPERATIONS

During the Financial year under report, the company posted an excellent financial performance.

The Statistical highlights are:

At standalone level, their profit after tax amounted to Rs 143.065 Millions (11.49% of revenue) as against Rs 81.851 Millions (PY - 7.44% of revenue), thus representing an increase of 54% over the previous year. On consolidated basis, their profit after tax amounted to Rs 139.840 Millions (10.82% of revenue) as against Rs 80.065 Millions (PY - 7.29% of revenue). The net worth of the company has increased to Rs 438.973 Millions from Rs. 340.103 Millions. The EPS has improved to Rs 0.947 Million (Rs 0.542 Million PY) for standalone and Rs 0.928 Million (Rs 0.530 Million PY) for the group.

GENERAL INFORMATION

No. of Employees :

300 (Approximately)

Bankers :

The Catholic Syrian Bank Limited, Mount Road Branch, Tarapore Towers, Chennai 600002, Tamilnadu, India

Facilities :

Secured Loan	30.06.2013 (Rs. in Millions)	30.06.2012 (Rs. in Millions)
Long-term Borrowings
Term Loan from Bank	39.258	16.652
From Others	6.652	0.136
Current maturities of long term debt	(11.396)	(1.269)
Short-term borrowings
Loans repayable on demand From Banks
Packing Credit	0.530	16.107
Bills Discounted	0.000	35.927
Total	35.044	67.553
Note: *Obligations under Hire Purchase Finance are secured against relevant fixed assets obtained under Hire Purchase Finance. Packing Credit and Other short term borrowings are secured by first charge on Buildings of the Company and second charge on hypothecation of Stock in Trade, Receivables, lien on deposits of the Company with the Bank. In addition to the above, the loans are also secured by second charge on Plant and Machineries of the Company, present and future on pari passu basis in addition to the personal guarantee by the promoter and few shareholders of the Company.


Banking Relations :	--

Statutory Auditors:
Name :	M Raghunath and Company Chartered Accountants
Address :	New No. 22 (Old No. 83/2), Millers Road, Kilpauk, Chennai - 600 010, Tamilnadu, India

Cost Auditors:	G. Thangaraj Chartered Accountant
	12B, Block 3, F2, Behind Venkatesha Nilayam, Jayalakshmipuram Main Road, Nungambakkam, Chennai 600 034, Tamilnadu, India

Related Entity:	Argus Salud Pharma LLP

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.06.2014

Category of Shareholder	Total No. of Shares	Total Shareholding as a % of Total No. of Shares

(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	814812	5.39
Bodies Corporate	231400	1.53
Any Others (Specify)	7824541	51.78
Persons Acting in Concert	7824541	51.78
Sub Total	8870753	58.71
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	8870753	58.71

(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	11700	0.08
Financial Institutions / Banks	700	0.00
Sub Total	12400	0.08
(2) Non-Institutions
Bodies Corporate	251557	1.66
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 Million	2923897	19.35
Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million	2843786	18.82
Any Others (Specify)	207607	1.37
Non Resident Indians	130726	0.87
Clearing Members	31381	0.21
Foreign Corporate Bodies	45500	0.30
Sub Total	6226847	41.21
Total Public shareholding (B)	6239247	41.29

Total (A)+(B)	15110000	100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	0	0.00

Total (A)+(B)+(C)	15110000	100.00

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	151.100	151.100	151.100
(b) Reserves & Surplus	287.873	189.003	142.274
(c) Money received against share warrants	0.000	0.00	0.000

(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	438.973	340.103	293.374

(3) Non-Current Liabilities
(a) long-term borrowings	34.514	15.519	0.849
(b) Deferred tax liabilities (Net)	47.946	24.715	15.339
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	3.783	2.662	1.999
Total Non-current Liabilities (3)	86.243	42.896	18.187

(4) Current Liabilities
(a) Short term borrowings	0.530	52.034	94.554
(b) Trade payables	223.715	203.480	168.608
(c) Other current liabilities	471.419	361.060	107.042
(d) Short-term provisions	59.259	40.613	31.239
Total Current Liabilities (4)	754.923	657.187	401.443

TOTAL	1280.139	1040.186	713.004

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	308.132	258.451	232.065
(ii) Intangible Assets	1.926	0.473	0.580
(iii) Capital work-in-progress	513.075	127.909	1.714
(iv) Intangible assets under development	0.901	0.000	0.000
(b) Non-current Investments	12.881	12.378	11.977
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	106.551	108.251	37.453
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	943.466	507.462	283.789

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	89.192	56.168	51.607
(c) Trade receivables	5.982	72.832	76.364
(d) Cash and cash equivalents	134.528	276.126	215.718
(e) Short-term loans and advances	101.025	115.804	81.101
(f) Other current assets	5.946	11.794	4.425
Total Current Assets	336.673	532.724	429.215

TOTAL	1280.139	1040.186	713.004

PROFIT & LOSS ACCOUNT

	PARTICULARS		30.06.2013	30.06.2012	30.06.2011
	SALES
		Income	1226.722	1076.206	830.246
		Other Income	17.330	23.895	25.506
		TOTAL (A)	1244.052	1100.101	855.752

Less	EXPENSES
		Cost of material consumed	308.441	311.307	232.982
		Purchase of traded goods	527.334	476.290	408.131
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	(10.697)	3.858	(4.838)
		Employee benefit expenses	79.654	61.414	40.930
		Other expenses	106.602	8.769	62.243
		TOTAL (B)	1011.334	861.638	739.448

Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		232.718	128.686	116.304

Less	FINANCIAL EXPENSES (D)		3.006	8.769	10.022

	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		229.712	119.917	106.282

Less/ Add	DEPRECIATION/ AMORTISATION (F)		14.532	11.550	22.772

	PROFIT BEFORE TAX (E-F) (G)		215.180	108.367	83.510

Less	TAX (H)		72.115	26.516	18.149

	PROFIT AFTER TAX (G-H) (I)		143.065	81.851	65.361

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		121.689	83.460	50.977

Less	APPROPRIATIONS
		Transfer to General Reserve	15.000	8.500	6.536
		Final Dividend proposed	37.775	30.220	22.665
		Dividend Tax – Current Year	6.420	4.902	3.677
		Transfer from other Reserves	(0.192)	0.000	0.000
	BALANCE CARRIED TO THE B/S		205.751	121.689	83.460

	EARNINGS IN FOREIGN CURRENCY
		FOB Value of Export	1084.668	897.382	695.299
	TOTAL EARNINGS		1084.668	897.382	695.299

	IMPORTS
		Raw Materials	428.255	380.552	344.556
		Capital Goods	50.524	39.056	8.290
	TOTAL IMPORTS		478.779	419.608	352.846

	Earnings Per Share (Rs.)		9.47	5.42	4.33

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

Status :	Good

Payment Behaviour :	Regular

Litigation :	Clear

RBI DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

LOCATIONS

Registered Office/Corporate office :	“Narbavi”, No.03, Lakshmanan Street, T. Nagar, Chennai – 600 017, Tamil Nadu, India
Tel. No.:	91-44-28156653/ 28156905
Fax No.:	91-44-28154952
E-Mail :	md-secreatary@dishnetdsl.net admin@caplinpoint.net exports-1@dishnetdsl.net exports@caplinpoint.net tricap@mds.vsnl.net info@caplinpoint.net
Website :	www.caplinpoint.net

FACTORY

Unit 1:	R.S. No.85/3, Suthukeny Village, Katterikuppm (Post), Mannadipet Commune Panchyat, Pondicherry 605502, India.
Tel. No.:	91-413-2674402 / 2674137
Fax No.:	91-413-2674002
E-Mail :	caplinpoint@gmail.com production@caplinpoint.net caplin@satyam.net.in

Unit 2 :	19, Chinnapuliyur Village, Gummidipoondi, Thiruvallur District, Tamilnadu, India.
Tel. No.:	91-44-27940274 / 65311262
Fax No.:	91-44-27940274
E-Mail :	mayindlab@vsnl.net

Unit 3:	Khasra No. 435, Village Suraj Majra, N.H.No. 21, Baddi, Teh Nalagarh, Dist Solan, Himachal Pradesh – 173205, India
E-Mail :	livingston@caplinpoint.net

Unit 4:	Guruvarajakandigai, Sirupuzhalpettai (Post), Gummidipoondi Taluka, Thiruvallur District, Tamil Nadu – 601 201, India

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