MIRA INFORM REPORT
|
Report Date : |
15.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
ALEMBIC LIMITED
(w.e.f. 31.05.1999) |
|
|
|
|
Formerly Known
As : |
Alembic Chemical Works Company
LIMITED |
|
|
|
|
Registered
Office : |
Alembic Road, Vadodara – 390 003, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
30.07.1907 |
|
|
|
|
Com. Reg. No.: |
04-000033 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.534.073
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L26100GJ1907PLC000033 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDA00819A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA7950P |
|
|
|
|
Legal Form : |
Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Subject
operates primarily in the manufacture of Bulk Drugs and Real Estate. |
|
|
|
|
No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having satisfactory fine track
record. Financial position of the company seems to be sound and healthy. Trade relations are fair. Business is active. Payment terms are
reported to be regular and as per commitments. The company can be considered for business dealings at usual trade
terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Fund Based Facilities: BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
March, 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Non Fund Based Facilities: A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
March, 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
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Samir Patel |
|
Designation : |
Senior Finance Manager |
|
Contact No.: |
91-265-2280550 |
|
Date : |
13.12.2014 |
LOCATIONS
|
Registered/ Corporate Office/ Factory 1 : |
Alembic Road, Vadodara – 390 003, |
|
Tel. No.: |
91-265-2284074/
75/ 2280550/ 2280880/ 3053333 |
|
Fax No.: |
91-265-2280331/
2228293/ 2281229/ 2282506/ 2282934/ 2281508/ 2282506/ 2284728 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
Panelav, Taluka Halol, District
Panchmahal – 389 350, |
|
|
|
|
Factory 3 : |
Plot No.21, 22 , EPIP -
Phase I, Jhamajri, Baddi, Tehsil – Nalagarh, District Solan, |
|
|
|
|
Factory 4 : |
Village Karakhadi, Taluka
Padra, District Vadodara, |
|
|
|
|
Wind Mills : |
Village Ukharla/
Trambak, Taluka-Ghogha, District |
|
|
|
|
Construction Project : |
Located at: ·
Chhani, Vadodara |
|
|
|
|
Alembic Research Centre : |
Division of Alembic
Limited, Alembic Campus, Vadodara – 390 003, |
|
Tel No.: |
91-265-3007989/ 3007874 |
|
|
|
|
Branch Office : |
2nd Floor, Prime Corporate Park, Behind ITC
Grand Maratha Sheraton, |
|
Tel. No.: |
91-22-30611698/ 30611682 |
|
Fax No.: |
91-22-30611682 |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. Chirayu R. Amin |
|
Designation : |
Chairman |
|
Address : |
F-10/192, |
|
Qualification : |
B. Sc., MBA |
|
Date of Appointment : |
01.05.1983 |
|
|
|
|
Name : |
Mrs. Malika C. Amin |
|
Designation : |
Director |
|
Address : |
F-10/192, |
|
Qualification : |
M.A. |
|
Date of Appointment : |
02.07.1988 |
|
|
|
|
Name : |
Mr. Udit Amin |
|
Designation : |
Director and President – Operations |
|
Date of Birth/ Age : |
34 Years |
|
Qualification
: |
B.A.
Economics |
|
Experience
: |
10 Years |
|
Date of Appointment : |
24.04.2013
|
|
|
|
|
Name : |
Mr. Milin Mehta |
|
Designation : |
Director |
|
Date of Appointment: |
30.03.2010 |
|
|
|
|
Name : |
Mr. Ramanlal M. Kapadia |
|
Designation : |
Director |
|
Address : |
49/50, Marti Mandir Society, |
|
Qualification : |
M. Com. LLB., DTP, FICWA, FCS, AIMA.DM |
|
|
|
|
Name : |
Mr. C. P. Buch |
|
Designation : |
Director (w.e.f. 14.08.2012) |
|
|
|
|
Name : |
Mr. Ashok Tulankar |
|
Designation : |
Director
|
|
|
|
|
Name : |
Mr.
R. C. Saxena |
|
Designation : |
Director
(w.e.f. 10.09.2013) |
KEY EXECUTIVES
|
Name : |
Mr. Samir Patel |
|
Designation : |
Senior Finance Manager |
|
|
|
|
Name : |
Mr. Chirag K. Shukla |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Category of
Shareholders |
No.
of Shares |
Percentage of
holding |
|
(A)
Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
26804860 |
10.04 |
|
|
144043144 |
53.94 |
|
|
170848004 |
63.98 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
170848004 |
63.98 |
|
(B)
Public Shareholding |
|
|
|
|
|
|
|
|
409452 |
0.15 |
|
|
25710108 |
9.63 |
|
|
7200 |
0.00 |
|
|
1500 |
0.00 |
|
|
5700 |
0.00 |
|
|
26126760 |
9.78 |
|
|
|
|
|
|
7570770 |
2.84 |
|
|
|
|
|
|
45722281 |
17.12 |
|
|
14024278 |
5.25 |
|
|
2739735 |
1.03 |
|
|
1805405 |
0.68 |
|
|
917270 |
0.34 |
|
|
17060 |
0.01 |
|
|
70057064 |
26.24 |
|
Total
Public shareholding (B) |
96183824 |
36.02 |
|
Total
(A)+(B) |
267031828 |
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) |
267031828 |
0.00 |
Shareholding of securities (including shares, warrants, convertible
securities) of persons belonging to the category Promoter and Promoter Group
|
Sl. No. |
Name of the Shareholder |
Details of Shares held |
|
|
No. of Shares held |
As a % of grand total |
||
|
1 |
Shreno Limited |
3,67,37,560 |
13.76 |
|
2 |
Whitefield Chemtech Private Limited |
3,65,70,460 |
13.70 |
|
3 |
Sierra Investments Limited |
3,35,84,140 |
12.58 |
|
4 |
Nirayu Private Limited |
3,37,98,274 |
12.66 |
|
5 |
Chirayu R Amin |
64,86,030 |
2.43 |
|
6 |
Malika C Amin |
58,24,620 |
2.18 |
|
7 |
Yera Ramanbhai Amin |
21,61,830 |
0.81 |
|
8 |
Chirayu R Amin |
21,46,500 |
0.80 |
|
9 |
Pranav C Amin |
20,19,600 |
0.76 |
|
10 |
Udit C Amin |
20,13,960 |
0.75 |
|
11 |
Vidyanidhi Trust |
16,19,100 |
0.61 |
|
12 |
Ninochaka A Kothari |
12,65,800 |
0.47 |
|
13 |
Shaunak C Amin |
12,29,880 |
0.46 |
|
14 |
Shaunak C Amin |
7,84,080 |
0.29 |
|
15 |
Sierra Investments Limited |
7,51,200 |
0.28 |
|
16 |
Shreya Rupendra Mukharjee |
6,79,720 |
0.25 |
|
17 |
Arogyavardhini Society |
5,61,900 |
0.21 |
|
18 |
Chirayu R Amin |
4,10,400 |
0.15 |
|
19 |
Anup N Kothari |
3,80,000 |
0.14 |
|
20 |
Jyoti S Patel |
3,27,600 |
0.12 |
|
21 |
Jyoti S Patel |
3,24,000 |
0.12 |
|
22 |
Jyoti S Patel |
3,24,000 |
0.12 |
|
23 |
Utkarsh Vidyakendra |
2,92,500 |
0.11 |
|
24 |
Malika C Amin |
1,61,640 |
0.06 |
|
25 |
Ujjwal Vidyalaya |
1,24,500 |
0.05 |
|
26 |
Naintara Shaunak Amin |
60,000 |
0.02 |
|
27 |
Samira Pranav Amin |
60,000 |
0.02 |
|
28 |
Ranvir P Amin |
60,000 |
0.02 |
|
29 |
Malika C Amin |
25,200 |
0.01 |
|
30 |
Viramya Packlight Limited |
1,800 |
0.00 |
|
31 |
Paushak Limited |
1,710 |
0.00 |
|
32 |
Inaaya S Amin |
60,000 |
0.02 |
|
|
Total |
17,08,48,004 |
63.98 |
Shareholding of securities (including shares, warrants, convertible
securities) of persons belonging to the category Public and holding more than
1% of the total number of shares
|
Sl. No. |
Name of the Shareholder |
No. of Shares held |
Shares as % of Total No. of Shares |
|
|
1 |
Lotus Global Investment Limited |
12015540 |
4.50 |
|
|
2 |
Elara India Opportunities Fund |
10451746 |
3.91 |
|
|
3 |
Manulife Global Fund Asian |
2778633 |
1.04 |
|
|
|
Total |
25245919 |
9.45 |
BUSINESS DETAILS
|
Line of Business : |
Subject
operates primarily in the manufacture of Bulk Drugs and Real Estate. |
|
|
|
|
Products/ Services : |
Bulk
Drugs and Real Estate |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS –
NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information declined by the Management. |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
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 – 400 011, Maharashtra, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associate Companies
: |
· Alembic Pharmaceuticals Limited · Paushak Limited · Sierra Healthcare Limited · Alembic Export Limited · Nirayu Private Limited · Quick Flight Limited · Whitefield Chemtech Private Limited · Quick Flight Limited · Shreno Limited · Sierra Investments Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000000 |
Equity Shares |
Rs.2/- each |
Rs.600.000 millions |
|
|
|
|
|
Issued & Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
267041193 |
Equity Shares |
Rs.2/- each |
Rs.534.082
millions |
|
|
|
|
|
Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
267031828 |
Equity Shares |
Rs.2/- each |
Rs.534.064
millions |
|
9365 |
Forfeited Equity Shares |
Rs.2/- each |
Rs.0.009 million
|
|
|
Total |
|
Rs.534.073 millions |
Reconciliation of the number of shares outstanding at the beginning and
at the end of the reporting period
|
Particulars |
31.03.2014 |
|
|
Numbers |
Amount (Rs. in
Millions) |
|
|
At the beginning of the period |
133515914 |
267.032 |
|
Issued during the period |
133515914 |
267.032 |
|
Outstanding at
the end of the period |
267031828 |
534.064 |
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 Rs.0.15 of dividend per equity share on enhanced
capital was proposed for the equity shareholders.
Shares in the
company held by each shareholder holding more than 5 percent shares specifying
the number of shares held:
|
Name of Shareholders |
31.03.2014 |
|
|
Numbers |
% held |
|
|
Shreno Limited |
36737560 |
13.76% |
|
Whitefield Chemtech Private Limited |
36570460 |
13.70% |
|
Sierra Investments Limited |
33584140 |
12.58% |
|
Nirayu Private Limited |
33798274 |
12.66% |
Aggregate
number of equity shares bought back during last 5 years: 3676147 equity shares
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 |
534.073 |
267.040 |
267.040 |
|
(b) Reserves & Surplus |
1772.692 |
1791.315 |
1704.645 |
|
(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) |
2306.765 |
2058.355 |
1971.685 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
7.007 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
331.378 |
301.818 |
302.852 |
|
(d)
Long-term provisions |
9.428 |
9.272 |
9.825 |
|
Total
Non-current Liabilities (3) |
347.813 |
311.090 |
312.677 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
215.662 |
250.902 |
1033.277 |
|
(b)
Trade payables |
391.959 |
479.528 |
256.802 |
|
(c)
Other current liabilities |
203.498 |
209.307 |
278.054 |
|
(d)
Short-term provisions |
95.859 |
130.647 |
62.487 |
|
Total
Current Liabilities (4) |
906.978 |
1070.384 |
1630.620 |
|
|
|
|
|
|
TOTAL |
3561.556 |
3439.829 |
3914.982 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1776.586 |
1853.794 |
1949.504 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
23.333 |
30.116 |
4.257 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
214.145 |
234.285 |
234.285 |
|
(c) Deferred tax assets
(net) |
0.000 |
27.338 |
19.797 |
|
(d) Long-term Loan
and Advances |
4.276 |
4.136 |
7.099 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
2018.340 |
2149.669 |
2214.942 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1043.495 |
973.386 |
942.482 |
|
(c)
Trade receivables |
276.265 |
182.922 |
160.411 |
|
(d)
Cash and cash equivalents |
9.606 |
12.688 |
31.428 |
|
(e)
Short-term loans and advances |
213.850 |
121.164 |
565.719 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1543.216 |
1290.160 |
1700.040 |
|
|
|
|
|
|
TOTAL |
3561.556 |
3439.829 |
3914.982 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
1536.079 |
1792.155 |
1207.812 |
|
|
|
Other Income |
158.340 |
103.188 |
64.468 |
|
|
|
TOTAL (A) |
1694.419 |
1895.343 |
1272.280 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
297.644 |
408.817 |
777.404 |
|
|
|
Changes in inventories of Finished Goods and Work-in-process |
(99.566) |
145.023 |
(244.495) |
|
|
|
Cost of Construction |
403.258 |
459.218 |
0.000 |
|
|
|
Employee Benefit Expenses |
272.495 |
244.732 |
255.088 |
|
|
|
Other expenses |
383.585 |
377.583 |
434.336 |
|
|
|
Exceptional Items - Voluntary Retirement Scheme |
0.000 |
0.000 |
24.763 |
|
|
|
TOTAL (B) |
1257.416 |
1635.373 |
1247.096 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
437.003 |
259.970 |
25.184 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
23.326 |
51.435 |
52.039 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
413.677 |
208.535 |
(26.855) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
79.028 |
98.442 |
109.320 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
334.649 |
110.093 |
(136.175) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
39.379 |
(4.841) |
(14.199) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
295.270 |
114.934 |
(121.976) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export
(FOB basis) |
117.850 |
79.293 |
85.789 |
|
|
TOTAL EARNINGS |
117.850 |
79.293 |
85.789 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
45.978 |
13.611 |
59.466 |
|
|
|
Packing
Material ,Components and Spare parts |
5.952 |
2.888 |
6.270 |
|
|
TOTAL IMPORTS |
51.930 |
16.499 |
65.736 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
1.11 |
0.43 |
(0.91) |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
30.06.2014 |
30.09.2014 |
|
Unaudited |
|
1st
Quarter |
2nd
Quarter |
|
Net
Sales |
|
327.300 |
394.800 |
|
Total
Expenditure |
|
268.700 |
350.600 |
|
PBIDT
(Excl OI) |
|
58.600 |
44.200 |
|
Other
Income |
|
4.000 |
173.100 |
|
Operating
Profit |
|
62.600 |
217.300 |
|
Interest |
|
3.900 |
0.100 |
|
Exceptional
Items |
|
0.000 |
0.000 |
|
PBDT |
|
58.700 |
217.200 |
|
Depreciation |
|
19.400 |
17.800 |
|
Profit
Before Tax |
|
39.300 |
199.400 |
|
Tax |
|
7.600 |
6.900 |
|
Provisions
and contingencies |
|
0.000 |
0.000 |
|
Profit
After Tax |
|
31.700 |
192.500 |
|
Extraordinary
Items |
|
0.000 |
0.000 |
|
Prior
Period Expenses |
|
0.000 |
0.000 |
|
Other
Adjustments |
|
0.000 |
0.000 |
|
Net
Profit |
|
31.700 |
192.500 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
19.22 |
6.41 |
(10.10) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/ Sales) |
(%) |
28.45 |
14.51 |
2.09 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.07 |
3.50 |
(3.72) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.05 |
(0.07) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.09 |
0.12 |
0.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.70 |
1.21 |
1.04 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
267.040 |
267.040 |
534.073 |
|
Reserves & Surplus |
1704.645 |
1791.315 |
1772.692 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
1971.685 |
2058.355 |
2306.765 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
1033.277 |
250.902 |
215.662 |
|
Total borrowings |
1033.277 |
250.902 |
215.662 |
|
Debt/Equity ratio |
0.524 |
0.122 |
0.093 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from Operations |
1207.812 |
1792.155 |
1536.079 |
|
|
|
48.380 |
(14.289) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from Operations |
1207.812 |
1792.155 |
1536.079 |
|
Profit |
(121.976) |
114.934 |
295.270 |
|
|
(10.10%) |
6.41% |
19.22% |
LOCAL AGENCY FURTHER INFORMATION
Details of Current maturities of long term debt:
Not Available
|
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS:
HIGH COURT OF
GUJARAT
|
|
CIVIL
APPLICATION (STAMP NUMBER) (FOR DIRECTION)No. 4822 of 2014 |
|||
|
|
|||
|
In FIRST APPEAL/
3657/ 2013( PENDING ) |
|||
|
Status : PENDING |
|
CCIN No :
001006201404822 |
|
|
|
|||||
|
|
||||
|
|
||||
|
S.NO. |
Name of the Petitioner |
Advocate On Record |
|
1 |
GAIL -INDIA- LIMITED |
TRIVEDI AND GUPTA for: Petitioner(s) |
|
S.NO. |
Name of the Respondent |
Advocate On Record |
|
1 |
SHERNO LIMITED |
NANAVATI ASSOCIATES for :Respondent(s) |
|
|
|||
|
Presented On |
: 02/05/2014 |
Registered On |
: - |
|
Bench Category |
: - |
District |
: VADODARA |
|
Case Originated From |
: THROUGH ADVOCATE |
Listed |
: 0 times |
|
Stage Name |
: - |
||
Office
Objection
|
|
|
Filing Stage |
·
WHETHER COPIES ARE LEGIBLE AND WHETHER TYPED
COPIES OF HAND WRITTEN ANNEXURES FILED ? ·
WHETHER COPIES ARE TRUE COPIES SO SIGNED BY
ADVOCATE ? |
|
Classification |
|
|
Act |
|
Office
Details
|
|
S. No. |
Filing Date |
Document Name |
Advocate Name |
Court Fee on
Document |
Document Details |
|
1 |
02/05/2014 |
VP FILED IN MAIN MATTER |
TRIVEDI AND GUPTA ADVOCATE |
0 |
TRIVEDI AND
GUPTA(949) for P:1 - 2 |
|
2 |
02/05/2014 |
MEMO OF APPEAL/PETITION/SUIT |
TRIVEDI AND GUPTA ADVOCATE |
20 |
TRIVEDI AND
GUPTA(949), for P:1 - 2 |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10004303 |
30/06/2011 * |
500,000,000.00 |
BANK OF BARODA AND OTHER
BANKS |
FIRST FLOOR, BANK OF
BARODA BUILDING, R.C. DUTT ROAD, VADODARA, GUJARAT - 390007, INDIA |
B16858458 |
* Date of charge modification
OPERATIONS:
The Company’s Gross
Revenues including export incentives were Rs.1609.200 millions for the year
ended 31st March, 2014 as compared to Rs.1900.100 millions for the
previous year.
The profit before Interest,
Depreciation, Nonrecurring Income and expenses and Taxes was Rs.437.000
millions for the year as compared to Rs.260.000 millions for the previous year.
During the year, the
interest and financial cost was Rs.23.300 millions as compared to Rs.51.400
millions in previous year. The Company has registered a net profit of
Rs.295.300 millions as compared to a net profit of 114.900 millions for the
previous year ended 31st March, 2013.
MANAGEMENT DISCUSSION AND
ANALYSIS REPORT
Industry Perspective vis-à-vis
Company
The Company operates
primarily in the manufacture of Bulk Drugs and Real Estate.
FINANCE:
The gross revenue of the
Company was Rs.1609.200 millions for the year as compared to Rs.1900.100
millions for the previous year ended on 31st March, 2013. The
Company registered a net profit of Rs.295.300 millions as compared to net
profit of Rs.114.900 millions for the previous year ended on 31st
March, 2013.
OUTLOOK:
The Company has focused its
attention to another fermentation product i.e. Lovastatin. The Company expects
good market for both domestic and for export. Apart from this, the Company is
actively pursuing cost reduction programs on its other API products in order to
improve its Competitiveness and Profitability.
The company’s maiden real
estate project – “Samsara” is on the verge of completion well within time. The
general outlook for the industry remains a subdued, though the scenario has
improved from last year.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
i. Wage revision and reinstatement of employees and other
demands |
Unascertained |
Unascertained |
|
ii. Letter of credit, Guarantees and counter guarantees |
39.359 |
75.296 |
|
iii. Liabilities Disputed in appeals |
|
|
|
- Excise duty |
41.335 |
41.250 |
|
- Sales Tax |
22.645 |
24.221 |
|
- Income tax |
72.936 |
74.069 |
|
- Green Cess |
1.124 |
-- |
|
iv. Claims against the company not acknowledged as debt |
355.576 |
-- |
|
v. Non fulfilment of export obligation against advance licence |
-- |
9.103 |
FIXED ASSETS:
· Freehold Land
· Buildings
· Employees Quarters
· Plant and 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.62.44 |
|
|
1 |
Rs.98.15 |
|
Euro |
1 |
Rs.77.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
-- PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
52 |
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.