MIRA
INFORM REPORT
|
Report Date : |
28.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
CENTAUR PHARMACEUTICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Centaur House, Shanti Nagar, Vakola, Santacruz (East),
Mumbai – 400055, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
15.10.1980 |
|
|
|
|
Com. Reg. No.: |
11-023291 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.184.966
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230MH1980PTC023291 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC10186B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC0444K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of API Chemicals. |
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|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
Litigation : |
Clear |
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|
Comments : |
Subject is well established and reputed company having a satisfactory
track record. Directors are reported as experienced and respectable businessmen. However, trade relations are reported as fair. Business is active. Payments
are reported to be usually correct. 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
NEWS
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 |
ICRA |
|
Rating |
Long term loans = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
August, 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term loans = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
August, 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 PARTED BY
|
Name : |
Mr. Avinash |
|
Designation : |
DGM Accounts |
|
Contact No.: |
91-22-66499100 |
|
Date : |
27.08.2014 |
LOCATIONS
|
Registered Office : |
Centaur House, Shanti Nagar, Vakola, Santacruz (East),
Mumbai – 400055, Maharashtra, India |
|
Tel. No.: |
91-22-66499100 |
|
Fax No.: |
91-22-66499108/ 112 / 66499228 |
|
E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
|
|
|
Factory 1 : |
API Division, Plot No.75/76, Chikhloli, M.I.D.C. Industrial Estate,
Ambernath (West), District Thane – 421502, Maharashtra, India |
|
|
|
|
Factory 1 / Plant : |
Located At Pune |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Shivanand Dattatraya Sawant |
|
Designation : |
Managing Director |
|
Address : |
501, Vasant Vihar Co-Operative Housing Society Limited, TPS III, 10th
Road, Santacruz (East), Mumbai – 400055, Maharashtra, India |
|
Date of Birth/Age : |
20.03.1938 |
|
Qualification : |
B.Sc. DIM LLB |
|
Date of Appointment : |
15.10.1980 |
|
DIN No.: |
00407965 |
|
PAN No.: |
AAAPS4838B |
|
|
|
|
Name : |
Dr. Shreekant Dattathray Sawant |
|
Designation : |
Managing Director |
|
Address: |
Flat No.11, 6th Floor, Om Sidhivinatyak Apartment, L.T.
Dilip Gupte Road, Mahim (West), Mumbai – 400016, Maharashtra, India |
|
Date of Birth/ Age: |
31.05.1949 |
|
Qualification : |
M. Sc. PhD |
|
Date of Appointment : |
14.03.2013 |
|
DIN No.: |
00745968 |
|
PAN No.: |
AAHPS2107B |
|
|
|
|
Name : |
Dr. Anil Mahadev Naik |
|
Designation : |
Whole Time Director |
|
Address: |
12, Vinayanand Co-Operative Housing Society, Dadabhai Cross Road No.1,
Linking Road, Extension, Santacrusz (West), Mumbai – 400054, Maharashtra, India |
|
Date of Birth/Age: |
06.09.1960 |
|
Qualification : |
B. Sc. (Tech), PhD |
|
Date of Appointment : |
01.08.2008 |
|
DIN No.: |
00405271 |
|
PAN No.: |
AADPN9273B |
|
|
|
|
Name : |
Mr. Govind Guno Desai |
|
Designation : |
Director |
|
Address: |
Kedar Apartment, Bhandar Lane, L.J. Road Mahim, Mumbai – 400015,
Maharashtra, India |
|
Date of Birth/ Age: |
14.06.1933 |
|
Date of Appointment : |
23.10.2008 |
|
DIN No.: |
00140853 |
|
|
|
|
Name : |
Mr. Sajit Kumar |
|
Designation : |
Nominee Director |
|
Address: |
Flat No.64, A Wing, Iris Park, Prabhat Estate Road, Jogeshwari (West),
Mumbai – 400102, Maharashtra, India |
|
Date of Birth/ Age: |
04.06.1966 |
|
Date of Appointment : |
21.04.2011 |
|
DIN No.: |
00108263 |
|
|
|
|
Name : |
Mrs. Smita Abhayakumar Phal |
|
Designation : |
Whole Time Director |
|
Address: |
501, Vasant Vihar Co-Operative Housing Society, Tips III,10th
Road, Santacruz (East), Mumbai – 400055, Maharashtra, India |
|
Date of Birth/ Age: |
30.08.1969 |
|
Date of Appointment : |
22.06.2011 |
|
DIN No.: |
02887382 |
|
PAN No.: |
AAHPS4836R |
KEY EXECUTIVES
|
Name : |
Mr. Pritam Maruti Khawale |
|
Designation : |
Secretary |
|
Address : |
14/18, Mukand Iron Staff, Association Co-Operative Housing Society, Gavanpada, Mulund (East), Mumbai – 400 081, Maharashtra, India |
|
Date of Birth/Age : |
14.04.1979 |
|
Date of Appointment : |
18.08.2009 |
|
PAN No.: |
AMIPK2014J |
|
|
|
|
Name : |
Mr. Ajay K. Handa |
|
Designation : |
President |
|
Qualification : |
B. Sc., PGDBM |
|
Date of Appointment : |
01.06.1989 |
|
|
|
|
Name : |
Mr. Avinash |
|
Designation : |
DGM Accounts |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
SHAREHOLDING DETAILS
FILE ATTACHED
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Venture Capital |
|
23.00 |
|
Directors
or relatives of directors |
|
68.80 |
|
Other
top fifty shareholders |
|
8.20 |
|
|
|
|
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of API Chemicals. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
European Countries |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
China |
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Terms : |
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Selling : |
Cash and Credit (30 days / 60 days) |
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Purchasing : |
Cash and Credit (30 days / 60 days) |
PRODUCTION STATUS (AS ON 31.03.2011)
LICENSED AND INSTALLED
CAPACITIES:
|
Particulars |
Unit of measure |
Quantity |
|
Formulations |
|
|
|
Tablets and Capsules |
No in millions |
1685 |
|
Liquid |
Kilo liters |
2000 |
|
Injectables |
Kilo liters |
30 |
|
Ointments and Medicinal Tooth Paste |
Tonnes |
200 |
|
Bulk Drugs |
Kilos |
50000 |
NOTES:
A. In terms of
Press Note No.4 (1994 series) dated October 25, 1994 issued by the Department
of Industrial Development, Ministry of Industry, Government of India and Notification
No. S.O. 137(E) dated 1 March 1999 issued by the Department of Industrial
Policy and Promotion, Ministry of Industry, Government of India, industrial
licensing has been abolished in respect of bulk drugs and formulations.
B. The installed
capacity is as certified by the Management and not verified by the Auditors,
this being a technical matter.
C. The capacity
mentioned above is annual capacity based on maximum utilization of plant and
machinery based on existing product mix. Installed capacity may vary due to
change in product mix.
PRODUCTION:
|
Particulars |
Unit of measure |
Quantity |
|
Tablets and Capsules |
No in million |
700.05 |
|
Liquid |
Kiloliters |
1586.23 |
|
Powder |
Tonnes |
0.13 |
|
Ointment and Medicinal Tooth Paste |
Tonnes |
34.54 |
|
Bulk Drugs |
Kilos |
22674.93 |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users |
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No. of Employees : |
150 (Approximately) |
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|
Bankers : |
· State Bank of India Industrial Finance Branch, Snehal Chambers, Teli Galli, Andheri (East), Mumbai – 400 069, Maharashtra, India ·
Axis Bank Limited Fort Branch, Universal Insurance Building, Sir P.M. Road, Mumbai – 400001, Maharashtra, India ·
State
Bank of India IFB, Natraj Building,
102, 1st Floor, 194, Sir M.V. Road, Western Express Highway,
Andheri (East), Mumbai – 400 069, Maharashtra, India ·
Canara Bank |
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Facilities : |
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|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institutions : |
·
Tata Capital Financial Services Limited ·
Aditya Birla Finance Limited |
|
|
|
|
Finance Institutes: |
· Electronica Finance Limited 128/A, Plot No.3,Kailashchandra Apartments, Paud Road,
Kothrud, Pune – 411038, Maharashtra, India |
|
Auditors : |
|
|
Name : |
B.S.R. and Associates Chartered Accountants |
|
Address : |
Lodha Excelus, 5th Floor, Apollo Mills Compound, N. M. Joshi Marg, Mahalaxmi, Mumbai – 400011, Maharashtra, India |
|
PAN No.: |
AAIFB7355D |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18496560 |
Equity Shares |
Rs.10/- each |
Rs.184.966
Millions |
|
|
|
|
|
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 |
184.966 |
184.966 |
184.966 |
|
(b) Reserves & Surplus |
850.476 |
707.998 |
664.900 |
|
(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) |
1035.442 |
892.964 |
849.866 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
127.073 |
168.102 |
282.400 |
|
(b) Deferred tax liabilities (Net) |
139.722 |
47.703 |
0.000 |
|
(c) Other long term liabilities |
65.900 |
60.500 |
56.700 |
|
(d) long-term provisions |
18.333 |
48.504 |
45.500 |
|
Total Non-current Liabilities (3) |
351.028 |
324.809 |
384.600 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
518.773 |
380.903 |
374.900 |
|
(b) Trade payables |
342.039 |
339.240 |
282.400 |
|
(c) Other current
liabilities |
270.089 |
347.258 |
265.300 |
|
(d) Short-term provisions |
88.608 |
33.400 |
5.300 |
|
Total Current Liabilities (4) |
1219.509 |
1100.801 |
927.900 |
|
|
|
|
|
|
TOTAL |
2605.979 |
2318.574 |
2162.366 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1329.997 |
1335.623 |
1344.900 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.200 |
|
(iii) Capital
work-in-progress |
46.084 |
44.362 |
14.700 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
142.026 |
79.443 |
49.100 |
|
(e) Other Non-current assets |
32.013 |
3.250 |
5.000 |
|
Total Non-Current Assets |
1550.120 |
1462.678 |
1413.900 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.013 |
0.068 |
0.100 |
|
(b) Inventories |
455.145 |
371.286 |
313.300 |
|
(c) Trade receivables |
434.705 |
385.569 |
329.800 |
|
(d) Cash and cash
equivalents |
86.436 |
23.798 |
32.000 |
|
(e) Short-term loans
and advances |
77.620 |
73.721 |
70.600 |
|
(f) Other current assets |
1.940 |
1.454 |
2.666 |
|
Total Current Assets |
1055.859 |
855.896 |
748.466 |
|
|
|
|
|
|
TOTAL |
2605.979 |
2318.574 |
2162.366 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Revenue from operations |
2,508.800 |
2,123.000 |
1,967.232 (Gross
Sales) |
|
|
Other Income |
241.000 |
152.500 |
NA |
|
|
TOTAL
|
2,749.800 |
2,275.500 |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL
|
2,327.700 |
1,986.200 |
NA |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
422.100 |
289.300 |
188.284 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
92.900 |
110.300 |
73.175 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
329.200 |
179.000 |
115.109 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
84.400 |
79.000 |
63.869 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
244.800 |
100.000 |
51.240 |
|
|
|
|
|
|
|
Less |
TAX |
102.400 |
56.900 |
(9.583) |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
142.400 |
43.100 |
60.823 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
170.984 |
127.884 |
67.061 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
313.384 |
170.984 |
127.884 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
FOB value of Exports |
781.600 |
607.000 |
596.067 |
|
|
Product Development Charges |
141.200 |
8.600 |
23.736 |
|
|
TOTAL
EARNINGS |
922.800 |
615.600 |
619.803 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
7.70 |
2.33 |
3.29 |
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
3230.000 |
Expected Sales ( 2014-2015) : Rs.350.000 Millions
The above information has been parted by Mr. Avinash.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
5.18 |
1.89 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.76 |
4.71 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.56 |
4.40 |
2.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
0.11 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.62 |
0.62 |
0.77 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.87 |
0.78 |
0.81 |
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 |
184.966 |
184.966 |
184.966 |
|
Reserves & Surplus |
664.900 |
707.998 |
850.476 |
|
Net
worth |
849.866 |
892.964 |
1,035.442 |
|
|
|
|
|
|
long-term borrowings |
282.400 |
168.102 |
127.073 |
|
Short term borrowings |
374.900 |
380.903 |
518.773 |
|
Total
borrowings |
657.300 |
549.005 |
645.846 |
|
Debt/Equity
ratio |
0.773 |
0.615 |
0.624 |
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) |
|
Revenue from operations |
1,967.232 |
2,123.000 |
2,508.800 |
|
|
|
7.918 |
18.172 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from operations |
1,967.232 |
2,123.000 |
2,508.800 |
|
Profit/(Loss) After Tax |
60.823 |
43.100 |
142.400 |
|
|
3.09% |
2.03% |
5.68% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by
Info Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last two years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
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] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
32] |
Date
of Birth 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 |
UNSECURED LOANS
|
Particular |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Other external commercial borrowings |
35.3140 |
34.827 |
|
Loans and advances from directors |
19.350 |
18.650 |
|
Loans and advances from others |
34.225 |
28.325 |
|
SHORT-TERM BORROWINGS |
|
|
|
Loans and advances from others |
0.119 |
0.310 |
|
|
|
|
|
Total |
89.008 |
82.112 |
FINANCIAL REVIEW
The
Company has recorded a sale (gross) of Rs. 2632.100 Millions as against the
sale of Rs. 2213.400 Millions for the previous year registering a growth of
approx.19%. Profit before Finance costs, Depreciation and tax amounted to Rs.
422.100 Millions as compared to Rs. 289.300 Millions in the previous year,
showing growth of approx. 46%.
INDUSTRY OVERVIEW AND OPERATIONS OF THE
COMPANY
Global Market
The
downturn in the global economy has affected the global pharma market which had
sales of $962 billion (IMS) with a growth of 2.4% in 2012, the lowest in the
new millennium. Among the major geographies, growth in North America was
modest; Europe slumped, while growth in the BRIC countries was lower than
earlier. Increasing generic penetration, significant patent expiries and low
new drug approvals were factors responsible for the decline in growth.
Indian Market
The
Indian economy grew at a decade low growth of 5%, with spiraling fuel prices,
sluggish consumption and a weak rupee. This has impacted the Indian pharma
market which touched sales of $14 billion but growth declined to 9% from 12% in
2012. However the depreciation of the rupee against the dollar helped pharmaceutical
exports to the US, the world’s largest market.
The Drug Price Control Order (2013) will control and monitor the prices
of 348 drugs that contribute to one third of the industry sales and has major implications
for the pharmaceutical industry with a shift from cost based to market based
pricing. The impact of the policy on the company is minimal, however the
interpretation and implications of the policy will only be understood, on
implementation.
Centaur Position:
The
Company ranks 43rd in the prescription audit (CMARC) and 51st (IMS) in the
wholesale audit having consistently outgrown the Indian pharma market. The
company has a major presence in the respiratory and ophthalmology segments.
Sinarest, their pillar brand continues to sustain its leadership amid intense
competition and has crossed landmark sales of Rs 1 billion.
The
$8 billion Indian API market ranks second in the world, and consists of exports
of $6.5 billion and $1.5 billion domestic sales. The Company is a leader in the
psychotropic API segment having pioneered the introduction of 28 API in India.
The API facility in Ambernath is USFDA and AFSSAPS approved. The $4.0 billion
Indian contract manufacturing industry accounts for a 5% global share and
offers a highly skilled scientific pool, API and regulatory competencies and
world class infrastructure, at a fraction of the cost in the regulated markets.
Your Company’s formulations facility in Pune is approved by the USFDA, UK MHRA,
TGA and WHO, which has placed the Company in a strategic position to exploit
contract manufacturing opportunities across regulated markets. The $400 million
Indian Clinical Research Organization (CRO) market offers a large population
and higher cost arbitrage over regulated markets. The company’s CRO, Lifesan,
is approved by international authorities and has successfully achieved
regulatory milestones. The company is among very few fully integrated Indian
pharma companies, and can emerge as a global pharmaceutical player by
leveraging its state of the art infrastructure and harnessing synergies across
the pharmaceutical value chain.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10501908 |
23/05/2014 * |
125,000,000.00 |
TATA CAPITAL
FINANCIAL SERVICES LIMITED |
ONE FORBES,, DR.
V. B. GANDHI MARG, FORT, MUMBAI, |
C06436950 |
|
2 |
10503168 |
19/03/2014 |
650,000,000.00 |
ADITYA BIRLA
FINANCE LIMITED |
INDIAN RAYON
COMPOUND, VERAVAL, GUJARAT
- 362266, |
C06729305 |
|
3 |
10468294 |
10/12/2013 |
28,844,000.00 |
TJSB SAHAKARI
BANK LIMITED |
VILE PARLE EAST
BRANCH, VISHWANATH BHAVAN,, CORNE MUMBAI,
MAHARASHTRA - |
B92761246 |
|
4 |
10444093 |
05/07/2013 |
15,242,000.00 |
TATA CAPITAL
FINANCIAL SERVICES LIMITED |
ONE FORBES,, DR.
V. B. GANDHI MARG, FORT, MUMBAI, |
B82592296 |
|
5 |
10291402 |
04/02/2014 * |
730,000,000.00 |
STATE BANK OF
INDIA |
IFB, NATRAJ
BUILDING, 102, 1ST FLOOR, 194, SIR M |
B97674196 |
|
6 |
10272043 |
31/01/2011 |
82,875,000.00 |
CANARA BANK |
J. N. ROAD,
LOVELY HOUSE, SANTACRUZ EAST,, MUMBAI, MAHARASHTRA - 400055, INDIA |
B06653737 |
|
7 |
10015268 |
26/08/2013 * |
810,900,000.00 |
STATE BANK OF
INDIA |
IFB, NATRAJ
BUILDING, 102, 1ST FLOOR, 194,, SIR M |
B83670430 |
* Date of charge modification
Fixed assets:
·
Land
Freehold
·
Land
Leasehold
·
Factory Building
·
Office Building/Guest House
·
Furniture and Fixtures
·
Vehicles
·
Plant
and Machinery
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.60.47 |
|
|
1 |
Rs.100.15 |
|
Euro |
1 |
Rs.79.65 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Analysis done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.