1. Summary Information
|
|
|
Country |
|
|
Company Name |
MICRO LABS LIMITED |
Principal Name 1 |
Mr. Dilip Surana |
|
Status |
Good |
Principal Name 2 |
Mr. Anand Grewal Chand Surana |
|
|
|
Registration # |
08-002401 |
|
Street Address |
27, Race Course Road, Bangalore – 560001, Karnataka, India |
||
|
Established Date |
07.09.1973 |
SIC Code |
|
|
Telephone# |
91-80-22370451-57 |
Business Style 1 |
Manufacturing |
|
Fax # |
91-80-22370463 |
Business Style 2 |
Marketing |
|
Homepage |
Product Name 1 |
Pharmaceutical
Formulations |
|
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.252,000,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of Directors – 100% |
Banking |
Canara Bank |
|
Public Limited Corp. |
No |
Business Period |
41 Years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
A (70) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiary Companies |
India
|
Micro Infrastructure (India) Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
13,109,668,000 |
Current Liabilities |
3,603,037,000 |
|
Inventories |
3,084,278,000 |
Long-term Liabilities |
5,126,731,000 |
|
Fixed Assets |
4,767,204,000 |
Other Liabilities |
174,366,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
8,904,134,000 |
|
Invest& other Assets |
2,945,616,000 |
Retained Earnings |
14,750,632,000 |
|
|
|
Net Worth |
15,002,632,000 |
|
Total Assets |
23,906,766,000 |
Total Liab. & Equity |
23,906,766,000 |
|
Total Assets (Previous Year) |
20,866,918,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Sales |
18,144,797,000 |
Net Profit |
2,733,062,000 |
|
Sales(Previous yr) |
16,525,178,000 |
Net Profit(Prev.yr) |
3,420,628,000 |
MIRA INFORM REPORT
|
Report Date : |
23.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
MICRO LABS LIMITED (w.e.f. 15.06.1988) |
|
|
|
|
Formerly Known
As : |
MICRO LABS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
27, Race Course Road, Bangalore – 560001, Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
07.09.1973 |
|
|
|
|
Com. Reg. No.: |
08-002401 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.252.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24232KA1973PLC002401 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRM02191A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM2131N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is primarily
engaged in the business of manufacturing and marketing of pharmaceutical
formulations. |
|
|
|
|
No. of Employees
: |
Information
denied by management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (70) |
|
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 60011000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an old and well-established company having fine track
record. The rating reflects Micro Lab’s established position in the
formulations market in India, supported by its diversified product portfolio,
and strong financial risk profile marked by healthy liquidity position. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
November 19, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
November 19, 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
31-03-2014.
INFORMATION DENIED
Management Non-Cooperative (Tel. No.: 91-80-22370454)
LOCATIONS
|
Registered Office : |
27 , Race Course Road , Bangalore – 560 001, Karnataka, India |
|
Tel. No.: |
91-80-22370451-57 |
|
Fax No.: |
91-80-22370463 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
45/3, Fairfield
Layout, Race Course Road, Bangalore – 560 001, Karnataka, India |
|
|
|
|
Corporate Office : |
No.303, A Wing,
Queens Corner Apartments, No.3, Queens Road, Bangalore – 560 001, Karnataka,
India |
|
Tel. No.: |
91-80-22269609 /
22268785 / 22267705 |
|
Fax No.: |
91-80-22256323 /
22281627 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
92, SIPCOT Industrial Complex, Hosur – 635126, Tamilnadu, India |
|
Tel No: |
91-4344-276618 / 277261 |
|
|
|
|
Factory 2 : |
RS 24/3 and 4, |
|
Tel No: |
91-481-2640015 /
023 |
|
Fax No: |
91-413-2644641 |
|
|
|
|
Factory 3 : |
15/A, 2nd
Phase, Kumbalgodu Industrial Area, Bangalore – 560074, Karnataka, India |
|
|
|
|
Factory 4 : |
S-155/159, Verna
Industrial Estate, Verna, Goa – 403722, India |
|
|
|
|
Branch Office : |
Located at: ·
Chennai
·
Indore
·
Aurangabad ·
Ghaziabad ·
Kolkata ·
Chandigarh ·
Secunderabad ·
Patna
|
DIRECTORS
As on 26.09.2013
|
Name : |
Mr. Dilip Surana |
|
Designation : |
Managing Director |
|
Address : |
45/3, Fair Field Layout, Race Course Road, High Grounds, Bangalore –
560 001, Karnataka, India |
|
Date of Birth/Age : |
18.01.1966 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
01.09.2007 |
|
PAN No.: |
AFKPS0253G |
|
DIN No.: |
00083030 |
|
|
|
|
Name : |
Mr. Anand Grewal Chand Surana |
|
Designation : |
Whole-time Director |
|
Address : |
45/3, Fair Field Layout, Race Course Road, High Grounds, Bangalore –
560 001, Karnataka, India |
|
Date of Birth/Age : |
24.03.1971 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
01.04.2010 |
|
PAN No.: |
AMGPS5511A |
|
DIN No.: |
00192343 |
|
|
|
|
Name : |
Mr. Prasanna Subbarao |
|
Designation : |
Director |
|
Address : |
92, 17th Main Road, Banashankari Stage-1, Srinagar,
Bangalore – 560 050, Karnataka, India |
|
Date of Birth/Age : |
20.07.1948 |
|
Date of Appointment : |
09.06.2007 |
|
DIN No.: |
00084602 |
|
|
|
|
Name : |
Mr. Amar Singh Sisodia |
|
Designation : |
Whole-time Director |
|
Address : |
No.245, 53rd Cross, 4th Block, Rajajinagar,
Bangalore – 560 010, Karnataka, India |
|
Date of Birth/Age : |
25.05.1949 |
|
Date of Appointment : |
18.07.2011 |
|
DIN No.: |
03584503 |
KEY EXECUTIVES
|
Name : |
Mr. Yogesh Krishna Shenoy |
|
Designation : |
Secretary |
|
Address : |
50/16, 20th Cross, 20th Main, Marena Halli, Vijaynagar,
Bangalore – 560 040, Karnataka, India |
|
Date of Birth/Age : |
26.09.1951 |
|
Date of Appointment : |
21.03.2005 |
|
PAN No.: |
AGTPS0938C |
MAJOR SHAREHOLDERS
As on 26.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Ghewarchand
Surana - HUF - B |
|
950250 |
|
Dilip Surana |
|
2039625 |
|
Dilip Surana - HUF |
|
2777250 |
|
Anand Surana |
|
4816875 |
|
Bhawari Bai Surana |
|
4982250 |
|
Archana Surana |
|
4816875 |
|
Monica Surana |
|
4811625 |
|
Anita Shiroya |
|
5000 |
|
Shailesh Shiroya |
|
250 |
|
Total |
|
25200000 |
Equity Share Break up (Percentage of Total Equity)
As on 26.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is primarily
engaged in the business of manufacturing and marketing of pharmaceutical
formulations. |
||||||
|
|
|
||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
·
Canara Bank, Prime Corporate Branch, No.25, Shankarnarayana Building, M.G. Road, Bangalore
– 560 001, Karnataka, India ·
Standard Chartered Bank ·
The Hongkong and Shanghai Banking Corporation Limited,
No.7, M.G. Road, Bangalore – 560 001, Karnataka, India · Citibank N.A., 506-507, Level-5, Prestige Meridian 2, No.30, M.G. Road, Bangalore – 560 001, Karnataka, India ·
IDBI Bank Limited ·
Barclays Bank ·
DBS Bank Limited ·
City Union Bank Limited ·
The Lakshmi Vilas Bank Limited · Axis Bank Limited ·
Bank of Nova Scotia |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name 1 : |
Dagliya and Company Chartered Accountants |
|
Address : |
No.5 and 6, ‘L’ Block Unity Building, J.C. Road, Bangalore – 560 002,
Karnataka, India |
|
PAN No.: |
AAAFD6954E |
|
|
|
|
Name 2 : |
T D Jain and D I Sakaria Chartered Accountants |
|
Address : |
No.34, Keshava Nivas, 3rd Floor, 1st Main Road,
Gandhi Nagar, Bangalore – 560 009, Karnataka, India |
|
PAN No.: |
AAAFO2177L |
|
|
|
|
Subsidiary Companies : |
·
Micro Infrastructure (India) Private Limited,
India CIN No.: U45201KA2007PTC042509 ·
Micro Infra Power Corporation Private Limited ·
Indu Infracon India Private Limited, India ·
Micro Pharmaceuticals, Mexico ·
Micro Labs GmbH, Germany ·
Brown and Burk (UK) Limited, United Kingdom ·
DNR Corporation Private Limited, India CIN No.: U45201KA2007PTC044602 ·
Micro Nova Pharmaceuticals India Limited, Nigeria ·
Micro Labs USA Inc. |
|
|
|
|
Associates : |
·
GDA Foundation, India ·
Pyari Bai Chunnilaliji Surana Charitable Trust, India ·
Ghewar Chand Surana Charitable Trust, India ·
Bal Pharma Limited, India CIN No.: L85110KA1987PLC008368 |
|
|
|
|
Partnership firm where the company or its
subsidiary is a partner : |
·
Indu Realtors, India ·
MIS Builders and Developers, India ·
Health Initiatives, India |
CAPITAL STRUCTURE
As on 26.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
34000000 |
Equity Shares |
Rs.10/- each |
Rs.340.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25200000 |
Equity Shares |
Rs.10/- each |
Rs.252.000
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
252.000 |
252.000 |
|
(b) Reserves & Surplus |
|
14750.632 |
12310.646 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
15002.632 |
12562.646 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1608.014 |
864.628 |
|
(b) Deferred tax liabilities (Net) |
|
75.101 |
60.743 |
|
(c) Other long term liabilities |
|
23.162 |
0.000 |
|
(d) long-term provisions |
|
66.914 |
60.235 |
|
Total Non-current Liabilities (3) |
|
1773.191 |
985.606 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
3518.717 |
3959.017 |
|
(b) Trade payables |
|
2908.285 |
2687.878 |
|
(c) Other current liabilities |
|
671.590 |
367.025 |
|
(d) Short-term provisions |
|
32.351 |
304.746 |
|
Total Current Liabilities (4) |
|
7130.943 |
7318.666 |
|
|
|
|
|
|
TOTAL |
|
23906.766 |
20866.918 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
4748.334 |
4256.438 |
|
(ii) Intangible Assets |
|
18.870 |
10.029 |
|
(iii) Capital
work-in-progress |
|
2437.871 |
1256.623 |
|
(iv) Intangible
assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
505.397 |
388.616 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
2362.776 |
1770.387 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
10073.248 |
7682.093 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
2.348 |
1055.837 |
|
(b) Inventories |
|
3084.278 |
2924.836 |
|
(c) Trade receivables |
|
4434.504 |
4147.954 |
|
(d) Cash and cash
equivalents |
|
1026.781 |
1327.864 |
|
(e) Short-term loans and
advances |
|
5285.607 |
3728.334 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
13833.518 |
13184.825 |
|
|
|
|
|
|
TOTAL |
|
23906.766 |
20866.918 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
252.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
10004.972 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
10256.972 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
3249.711 |
|
|
2] Unsecured Loans |
|
|
669.935 |
|
|
TOTAL BORROWING |
|
|
3919.646 |
|
|
DEFERRED TAX LIABILITIES |
|
|
68.926 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
14245.544 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
4069.249 |
|
|
Capital work-in-progress |
|
|
447.629 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
1288.808 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
2532.562
|
|
|
Sundry Debtors |
|
|
3345.728
|
|
|
Cash & Bank Balances |
|
|
1364.758
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
4012.296
|
|
Total
Current Assets |
|
|
11255.344 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
2307.658
|
|
|
Other Current Liabilities |
|
|
147.173
|
|
|
Provisions |
|
|
360.655
|
|
Total
Current Liabilities |
|
|
2815.486 |
|
|
Net Current Assets |
|
|
8439.858
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
FOREIGN CURRENCY MONETARY ITEMS |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
14245.544 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
18144.797 |
16525.178 |
14003.419 |
|
|
|
Other Income |
819.112 |
737.880 |
985.532 |
|
|
|
TOTAL (A) |
18963.909 |
17263.058 |
14988.951 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
5741.918 |
4507.661 |
0.000 |
|
|
|
Consumption materials changes inventories |
0.000 |
0.000 |
5830.606 |
|
|
|
Purchase of Stock-in-trade |
1716.933 |
1687.639 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(116.421) |
(199.650) |
0.000 |
|
|
|
Employee benefit |
2789.036 |
2528.679 |
2068.931 |
|
|
|
Expenditure on production, transportations and other expenditure pertaining
to E and P activities |
245.297 |
199.770 |
0.000 |
|
|
|
Manufacturing service costs |
0.000 |
0.000 |
727.732 |
|
|
|
Administrative selling other Expenses |
0.000 |
0.000 |
2792.761 |
|
|
|
Research development Expenditure |
0.000 |
0.000 |
70.251 |
|
|
|
Other expenses |
4449.066 |
4425.854 |
0.000 |
|
|
|
TOTAL (B) |
14825.829 |
13149.953 |
11490.281 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4138.080 |
4113.105 |
3498.670 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
179.310 |
196.489 |
159.361 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3958.770 |
3916.616 |
3339.309 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
525.560 |
495.987 |
454.651 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
3433.210 |
3420.629 |
2884.658 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
700.148 |
0.000 |
632.713 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
2733.062 |
3420.629 |
2251.945 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
9974.147 |
8168.474 |
6552.024 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
500.000 |
500.000 |
500.000 |
|
|
|
Interim Dividend |
226.800 |
0.000 |
0.000 |
|
|
|
Proposed Dividend |
25.200 |
252.000 |
252.000 |
|
|
|
Tax on Dividend |
41.075 |
40.881 |
40.881 |
|
|
BALANCE CARRIED
TO THE B/S |
11914.134 |
9974.147 |
8168.474 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export |
6326.271 |
4772.263 |
4975.457 |
|
|
|
Product Development Charges |
120.581 |
35.394 |
103.659 |
|
|
TOTAL EARNINGS |
6446.852 |
4807.657 |
5079.116 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Material |
1430.444 |
1219.392 |
1256.109 |
|
|
|
Packing Material |
13.018 |
13.075 |
17.460 |
|
|
|
Capital Goods and Spares |
290.985 |
475.581 |
204.640 |
|
|
|
Components and Spare Parts |
46.902 |
66.764 |
0.000 |
|
|
TOTAL IMPORTS |
1781.349 |
1774.812 |
1478.209 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
108.45 |
103.12 |
95.61 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
14.41 |
19.81 |
15.02 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
18.92 |
20.70 |
20.60 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.38 |
17.80 |
18.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
0.27 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.34 |
0.38 |
0.38 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.94 |
1.80 |
4.00 |
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 |
252.000 |
252.000 |
252.000 |
|
Reserves & Surplus |
10004.972 |
12310.646 |
14750.632 |
|
Net
worth |
10256.972 |
12562.646 |
15002.632 |
|
|
|
|
|
|
Secured Loans |
3249.711 |
4576.985 |
4219.924 |
|
Unsecured Loans |
669.935 |
246.660 |
906.807 |
|
Total
borrowings |
3919.646 |
4823.645 |
5126.731 |
|
Debt/Equity
ratio |
0.382 |
0.384 |
0.342 |
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 |
14,003.419 |
16,525.178 |
18,144.797 |
|
|
|
18.008 |
9.801 |
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
|
14,003.419 |
16,525.178 |
18,144.797 |
|
Profit |
2,251.945 |
3,420.629 |
2,733.062 |
|
|
16.08% |
20.70% |
15.06% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
---------------------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
Note: The registered office of the company has been
shifted from No.303, 3rd Floor, A-Wing, Queens Corner Apartments,
No.3, Queens Road, Bangalore – 560001, Karnataka, India to the present address
w.e.f. 22.06.2006.
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Rupee term loans from banks |
28.233 |
0.000 |
|
Short Term Borrowings |
|
|
|
Loans repayable on demand from banks |
823.572 |
235.660 |
|
Loans
and advances from directors |
55.002 |
11.000 |
|
Total |
906.807 |
246.660 |
FINANCIAL PERFORMANCE:
During the year, the
Company has earned income of Rs.18963.900 millions as against Rs.17047.000
millions for the previous year. The Company has earned a profit of Rs.3433.200
millions as compared to profit of Rs.3204.600 millions in the previous year.
OPERATIONAL REVIEW:
The Indian Pharmaceutical
Market witnessed a strong beginning in 2012 with 18.7% growth and ended on a
low note at 9.1% growth. The Industry is expected to revert a growth of 10-12%
in 2013-14. 10% of the Indian market is likely to be patent protected by 2015.
Currently the Indian Pharmaceutical market is ranked 13th in the
world and by 20 IS it is expected to rank among the top 10 in the world. The
Indian Pharmaceutical Market is changing and the need to service this market is
changing drastically. To sustain the robust growth for the future, Companies
are focussing on improving operational efficiencies and have also used the
traditional growth levers to drive growth. The Company ranks 19 amongst 300 top
Pharmaceutical Companies in India.
HIGHLIGHTS:
The Company received many
accolades during the year which are highlighted below: Mr. Dilip Surana was
awarded the Most Dynamic Entrepreneur of the Year at 4th Annual
India Leadership Conclave and Indian Affairs Business Leadership Awards 2013.
The Company won the prestigious "Golden Peacock Business Excellence Award
2013" in the Pharmaceutical category.
INTERNATIONAL OPERATIONS:
Global business of the
Company has begun to yield predictable returns due to the focussed work done
over the past decade. The Company’s Global business is positioned to take advantage
of all the three core segments worldwide- viz. Emerging Markets, Regulated
Market and Institutional Business.
Emerging Markets: The
Company has made a major expansion in extending its marketing reach both
geographically as well as increase in the number of products in countries
including Russia, Ukraine, Philippines, Vietnam, Kenya, Uganda, Ivory Coast,
Senegal, Cameroun, Malawi and Algeria. In the chronic segment, most of these
markets, they are getting closer to attain critical mass and sustainability.
This base so formed will enable them to expand in the next two years.
Regulated Market: The
Company has now opened its own marketing and distribution operations through
100% Subsidiary Companies ill U S A, UK and Germany. The Company has received
Marketing approvals for more than 19 products this year in the EU and 6
products in the USA. The Company has started sales in new markets of Croatia,
Serbia, Bosnia and Canada through strategic out licensing deals. New products
registration applications are being flied in new markets like Australia,
Poland, Czech Republic. The new products are expected to contribute more than
Rs.1000.000 millions to the revenues during 2013-14. In the last year, The
Company had filed 12ANDA applications ill the USA and 8 EU CTD applications in
the EU.
Institutional Business: The
Company has received several approvals for products from WHO, UNICEF, PEPFAR in
the ARV, Anti- T.B, Anti Malarial segment and many new tenders have been
awarded. This segment is expected to at least double its revenue in the Coining
years.
API: The API business
received COS (Certificate of Suitability) from the EU Authorities (EDQM) for
Cyclizine, Irbcsartan, Losartan and Dorzolamide and 2 new DMF's have been filed
with EDQM for Celecoxib, Escitalopram. The grant of approval for the API's will
enable the Company to become a fully integrated player in the regulated
markets, for key generic products.
PROSPECTS:
India is one of the fastest
- growing pharmaceutical markets in the world, and now its market size has
nearly doubled and is further expected to reach $20 billion by 2015, growing at
a Compounded Annual Growth Rate (CAGR) of 11.7% during 2005-2015 and establish
its presence among the world's 10 leading markets. India is now among the top 5
pharmaceutical emerging markets. The Indian Pharmaceutical Industry,
particularly, has been the front runner in a wide range of specialities
involving complex drug manufacture, development and technology. India is the
third largest market in the world in terms of volume and fourteenth in terms of
value.
India's Pharmaceutical
sector is gaining a global leadership position and Indian Generics today
constitute nearly a fifth of global supplies. Success in the market will be
dependent not only on the Pharma Companies but also on other stakeholders like
healthcare providers, health insurance companies, Government of India and other
complimentary partners.
NEW PROJECTS:
The construction of the
Company's new manufacturing facility at Sikkim is progressing rapidly and is
expected to commence its operations in 2014-15. Commercial production has
commenced at the new facilities at Goa and Vecrasandra (Bangalore) in the year
2013-14.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10476286 |
24/01/2014 |
830,000,000.00 |
THE HONGKONG AND SHANGHAI
BANKING CORPORATION LIMITED |
NO. 7,, M G ROAD, BANGALORE,
KARNATAKA - 560001, |
B95788337 |
|
2 |
10438079 |
29/06/2013 |
1,200,000,000.00 |
THE HONGKONG AND SHANGHAI
BANKING CORPORATION LIMITED |
PLOT NO.139-140B, SHIV
BUILDING, SAHAR ROAD JUNCTION, WESTERN EXPRESSWAY HIGHWAY, VILE PARLE (EAST),
MUMBAI, MAHARASHTRA - 400057, INDIA |
B80143258 |
|
3 |
10391045 |
23/11/2012 |
1,109,010,000.00 |
HSBC BANK (MAURITIUS)
LIMITED |
6TH FLOOR,
HSBC CENTRE, 18, CYBER CITY, EBENE, MAURITIUS, - NA, MAURITIUS |
B63773261 |
|
4 |
10367660 |
04/07/2012 |
400,000,000.00 |
CITI BANK N.A. |
506-507, LEVEL - 5,
PRESTIGE MERIDIAN 2, NO.30, M.G. ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
B44575025 |
|
5 |
10329490 |
28/12/2011 |
150,000,000.00 |
THE HONGKONG AND SHANGHAI
BANKING CORPORATION LIMITED |
7 MAHATMA GANDHI ROAD,
BANGALORE, KARNATAKA - 560001, INDIA |
B29798386 |
|
6 |
10297367 |
07/12/2011 * |
1,000,000,000.00 |
DBS BANK LIMITED |
SALARPURIA WINDSOR, NO.
3, (OLD NO.10), ULSOOR ROAD, WARD NO. 78, BANGALORE, KARNATAKA - 560042,
INDIA |
B28823433 |
|
7 |
10283885 |
21/04/2011 |
300,000,000.00 |
BARCLAYS BANK PLC |
FIRST FLOOR, PARAMANNA
LAYOUT, BH ROAD, NEELAMANGLA, BANGALORE, KARNATAKA - 562123, INDIA |
B12002291 |
|
8 |
10259383 |
14/01/2011 |
920,000,000.00 |
STANDARD CHARTERED BANK |
RAHEJA TOWERS, SIXTH
FLOOR, NO.26 - 27, M. G. ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
B03091022 |
|
9 |
10261785 |
21/01/2011 * |
920,000,000.00 |
STANDARD CHARTERED BANK |
RAHEJA TOWERS, SIXTH FLOOR,
NO.26 - 27, M. G. ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
B04442489 |
|
10 |
10118807 |
29/12/2008 * |
400,000,000.00 |
CITIBANK N.A. |
506-507, LEVEL 5,
PRESTIGE MERIDIAN 2, #30, M.G. ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
A53849022 |
|
11 |
10079316 |
02/02/2012 * |
1,370,000,000.00 |
STANDARD CHARTERED BANK |
RAHEJA TOWERS, SIXTH
FLOOR, NO.26-27, M G ROAD, |
B31489305 |
|
12 |
10054438 |
22/01/2010 * |
550,000,000.00 |
STANDARD CHARTERED BANK |
RAHEJA TOWERS, SIXTH
FLOOR, NO.26/27, M. G. ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
A77639375 |
|
13 |
10029345 |
17/03/2007 * |
550,000,000.00 |
ABN AMRO BANK NV |
99 AND 100, PRESTIGE
TOWERS, RESIDENCY ROAD, BANGALORE, KARNATAKA - 560025, INDIA |
A05590542 |
|
14 |
10007038 |
22/01/2010 * |
450,000,000.00 |
STANDARD CHARTERED BANK |
RAHEJA TOWERS, SIXTH
FLOOR, NO.26-27, M. G. ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
A77637932 |
|
15 |
80033460 |
06/11/2009 * |
300,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC COMPLEX,
CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A73854358 |
|
16 |
90192532 |
04/07/2003 * |
205,000,000.00 |
CANARA BANK |
INDUSTRIAL FINANCE
BRANCH, NO. 83; RICHMOND ROAD, BANGALORE, KARNATAKA - 560025, INDIA |
- |
|
17 |
90189496 |
28/01/2000 |
110,000,000.00 |
CANARA BANK |
INDUSTRAIL FINANCE
BRANCH, RICHMOND ROAD, BANGALORE, KARNATAKA - 560025, INDIA |
- |
|
18 |
90192017 |
04/01/1999 |
64,000,000.00 |
CANARA BANK |
INDUSTRAIL FIANNCE
BRANCH, VENKATADI COMPLEX; 83; |
- |
|
19 |
90191967 |
29/06/1998 |
12,000,000.00 |
STATE BANK OF MYSORE |
INDUSTRIAL FINANCE
BRANCH; NO. 18, RAMANASHREE ARCADE; MIDFORD GARDENS ROAD; M.G. RD.,
BANGALORE, KARNATAKA - 560001, INDIA |
- |
|
20 |
90195429 |
29/06/1998 |
5,000,000.00 |
STATE BANK OF MYSORE |
INDUSTRIAL FINANCE
BRANCH; NO. 18, RAMANASHREE AR |
- |
|
21 |
90195397 |
29/10/1997 |
62,500,000.00 |
STATE BANK OF MYSORE |
INDUSTRIAL FINANCE
BRANCH, OFF. M.G. ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
- |
|
22 |
90191791 |
03/03/1997 |
5,000,000.00 |
CANARA BANK |
INFANTRY BRANCH,
BANGALORE, KARNATAKA - 560001, INDIA |
- |
|
23 |
90191650 |
18/12/1998 * |
55,000,000.00 |
CANARA BANK |
INDUSTRAIL FIANNCE
BRANCH, RICHMOND ROAD, BANGALO |
- |
|
24 |
90193872 |
18/03/2013 * |
2,000,000,000.00 |
CANARA BANK |
PRIME CORPORATE BRANCH,
NO.25, "SHANKARNARAYANA BUILDING", M G ROAD, BANGALORE, KARNATAKA -
560001, INDIA |
B72201320 |
|
25 |
90191298 |
30/08/1994 |
6,400,000.00 |
CANARA BANK |
ANNA NAGAR EAST, MADRAS,
TAMILNADU - 600102, INDIA |
- |
|
26 |
90191247 |
25/05/1994 |
7,907,000.00 |
CANARA BANK |
ANNA NAGAR, MADRAS,
TAMILNADU - 600102, INDIA |
- |
|
27 |
90195173 |
09/06/2001 * |
20,000,000.00 |
STATE BANK OF MYSORE |
INDUSTRIAL FINANCE
BRANCH, OFF. M.G. ROAD, BANGALORE, KARNATAKA, INDIA |
- |
|
28 |
90195154 |
24/01/1994 |
1,500,000.00 |
CENTRAL BANK OF INDIA |
MILLERS ROAD BRANCH,
BANGALORE, KARNATAKA - 560052, INDIA |
- |
|
29 |
90191112 |
14/07/1993 |
1,000,000.00 |
CENTRAL BANK OF INDIA |
MILLERS ROAD BRANCH,
BANGALORE, KARNATAKA, INDIA |
- |
|
30 |
90191055 |
05/03/1993 |
2,500,000.00 |
CANARA BANK |
ANNA NAGAR EAST, MADRAS,
TAMILNADU - 600102, INDIA |
- |
|
31 |
90189363 |
18/12/1998 * |
27,100,000.00 |
CANARA BANK |
INDUSTRAIL FIANNCE
BRANCH, RICHMOND ROAD, BANGALORE, KARNATAKA - 560025, INDIA |
- |
|
32 |
90190948 |
03/06/1992 |
2,500,000.00 |
CANARA BANK |
ANNANAGAR (EAST),
BANGALORE, KARNATAKA - 560001, INDIA |
- |
|
33 |
90190867 |
09/12/1991 |
1,500,000.00 |
CANARA BANK |
ANNA NAGAR, MADRAS, TAMIL
NADU - 600102, INDIA |
- |
|
34 |
90189327 |
02/06/1992 * |
12,500,000.00 |
CANARA BANK |
A 12; 13; II AVENUE,
ANNANAGAR (EAST), MADRAS, TAMILNADU - 600102, INDIA |
- |
|
35 |
90190551 |
05/03/1993 * |
12,500,000.00 |
CANARA BANK |
A-12-13; SECOND AREA;
ANNA NAGAR EAST, MADRAS, TAMILNADU - 600102, INDIA |
- |
|
36 |
90189326 |
18/12/1998 * |
27,100,000.00 |
CANARA BANK |
INDUSTRAIL FIANNCE
BRANCH, RICHMOND ROAD, BANGALORE, KARNATAKA - 560025, INDIA |
- |
|
37 |
90190220 |
09/12/1991 * |
7,000,000.00 |
CANARA BANK |
ANNA NAGAR, MADRAS, TAMIL
NADU - 600102, INDIA |
- |
|
38 |
90193339 |
24/03/1998 * |
4,000,000.00 |
CANARA BANK |
INFANTRY ROAD BRANCH,
BANGALORE, KARNATAKA - 560001, INDIA |
- |
|
39 |
90190083 |
25/01/1990 * |
3,000,000.00 |
CANARA BANK |
A-12-13; SECOND AVENUE
ANNANAGAR, MADRAS, TAMILNADU - 600102, INDIA |
- |
|
40 |
90193186 |
10/04/1985 |
1,000,000.00 |
CANARA BANK |
ANNANAGAR, MADRAS,
TAMILNADU - 600102, INDIA |
- |
|
41 |
90193182 |
01/01/1998 * |
55,000,000.00 |
CANARA BANK |
INFANTRY ROAD BRANCH,
BANGALORE, KARNATAKA - 560001, INDIA |
- |
|
42 |
90189872 |
29/12/1983 |
300,000.00 |
CANARA BANK |
A-12-13; SECOND AVENUE,
ANNANAGAR (EAST), MADRAS, TAMILNADU - 600102, INDIA |
- |
|
43 |
90193143 |
19/08/1983 * |
500,000.00 |
CANARA BANK |
ANNA NAGAR EAST, MADRAS,
TAMILNADU - 600102, INDIA |
- |
|
44 |
90193127 |
10/08/1982 |
500,000.00 |
CANARA BANK |
A-12-13; SECOND AREA;
ANNA NAGAR EAST, MADRAS, TAMILNADU - 600102, INDIA |
- |
|
45 |
90189792 |
29/12/1983 * |
1,000,000.00 |
CANARA BANK |
ANNA NAGAR, MADRAS,
TAMILNADU - 600102, INDIA |
- |
|
46 |
90189784 |
25/09/1981 |
1,000,000.00 |
CANARA BANK |
ANNA NAGAR, MADRAS,
TAMILNADU - 600102, INDIA |
- |
|
47 |
90189235 |
23/09/1981 |
1,300,000.00 |
CANARA BANK |
ANNA NAGAR, MADRAS,
TAMILNADU - 600102, INDIA |
- |
|
48 |
90189783 |
23/09/1981 |
1,300,000.00 |
CANARA BANK |
ANNA NAGAR, MADRAS, TAMIL
NADU - 600102, INDIA |
- |
|
49 |
90189747 |
20/01/1992 * |
5,500,000.00 |
CENTRAL BANK OF INDIA |
71, MILLERS ROAD; SONA
TOWERS, BANGALORE, KARNATAKA, INDIA |
- |
|
50 |
90189738 |
11/09/1979 |
200,000.00 |
CANARA BANK |
A-12-13; II AVENUE,
ANNANAGAR (EAST), MADRAS, TAMILNADU - 600102, INDIA |
- |
|
51 |
90189737 |
04/09/1979 |
45,000.00 |
CANARA BANK |
ANNA NAGAR, MADRAS,
TAMILNADU - 600040, INDIA |
- |
|
52 |
90193078 |
17/12/1978 |
200,000.00 |
CANARA BANK |
ANNANAGAR, MADRAS,
TAMILNADU - 600040, INDIA |
- |
|
53 |
90189692 |
30/08/1976 |
600,000.00 |
CANARA BANK |
A 12; 13; II AVENUE,
ANNANAGAR (EAST), MADRAS, TAMILNADU - 600102, INDIA |
- |
|
54 |
90193068 |
30/08/1976 |
600,000.00 |
CANARA BANK |
ANNANAGAR, MADRAS,
TAMILNADU - 600040, INDIA |
- |
|
55 |
90189691 |
21/08/1976 |
300,000.00 |
CANARA BANK |
A 12; 13; II AVENUE,
ANNANAGAR (EAST), MADRAS, TAMILNADU - 600102, INDIA |
- |
|
56 |
90193067 |
21/08/1976 |
300,000.00 |
CANARA BANK |
ANNANAGAR, MADRAS,
TAMILNADU - 600040, INDIA |
- |
*Date of modification Charges
FIXED ASSETS:
·
Freehold
Land
·
Leasehold
Land
·
Factory
Buildings
·
Office
and Other Building
·
Leasehold
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Office Equipments
·
Computers
·
Vehicles
·
Trade Marks
·
Computer
Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.44 |
|
UK Pound |
1 |
Rs.100.24 |
|
Euro |
1 |
Rs.80.35 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
70 |
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.