MIRA INFORM REPORT

 

 

Report Date :

17.12.2014

 

IDENTIFICATION DETAILS

 

Name :

EMCURE PHARMACEUTICALS LIMITED

 

 

Registered Office :

‘Emcure House’, T-184, MIDC, Bhosari, Pune – 411026, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

16.04.1981

 

 

Com. Reg. No.:

25-024251

 

 

Capital Investment / Paid-up Capital :

Rs.452.130 Millions

 

 

CIN No.:

[Company Identification No.]

U24231PN1981PLC024251

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

PNEE00094D

 

 

PAN No.:

[Permanent Account No.]

AAACE4574C

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

The company is engaged in manufacturing of formulations and Active Pharma Ingredients (APIs).

 

 

No. of Employees :

Information declined by the management.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A (67)

 

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 21000000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist

 

 

Comments :

Subject is an established company having fine track.

 

The ratings takes into consideration the accredited manufacturing facilities and a favourable financial profile marked by healthy Networth.

 

Trade relations are fair. Business is active. Payment terms are reported to be regular and as per commitment.

 

In view of extensive experience and long track record of the promoters, the subject 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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CARE

Rating

Long term bank facilities = AA-

Rating Explanation

High degree of safety and very low credit risk.

Date

10.10.2014

 

Rating Agency Name

CARE

Rating

Short term bank facilities = A1+

Rating Explanation

Very strong degree of safety and carry lowest credit risk.

Date

10.10.2014

 

 

 

RBI DEFAULTERS’ LIST STATUS

 

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

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

 

 

INFORMATION DENIED

 

MANAGEMENT NON CO-OPERATIVE

 

CONTACT NO.: 91-20-30610000

 

 

 

 

LOCATIONS

 

Registered Office :

‘Emcure House’, T – 184, MIDC, Bhosari, Pune – 411 026, Maharashtra, India

Tel. No.:

91-20-30610000

Fax No.:

91-20-30610111

E-Mail :

corporate@emcure.co.in

gaurav.pancholia@emcure.co.in

dixit@blackstone.com

Website :

http://www.emcure.co.in

Area :

50000 Sq. ft.

Location :

Owned

 

 

Manufacturing Units :

API Manufacturing

Plot No. D – 24, M.I.D.C., Kurkumbh, Taluka Daund, District Pune – 413 802, Maharashtra, India

Tel No.: 91-2117-305000/ 235742

Fax No.: 91-2117-235743

 

Formulations – Injectables

Plot P – 1, MIDC, Hinjewadi, Pune – 411 057, Maharashtra, India

Tel No.: 91-20-39821300

Fax No.: 91-20-39821400

 

Formulations – Solids

1.     C – 10/12, M.I.D.C., Bhosari, Pune – 411 026, Maharashtra, India

 

2.     Plot P-II, MI.D.C. Hinjwadi, Pune 411 057, Maharashtra, India

Tel No.: 91-20-39821300

Fax No.: 91-20-39821340

 

Small Batch Manufacturing

Plot P-II, IT-BT Park, M.I.D.C. Hinjwadi, Pune -  411 057, Maharashtra, India

Tel No.: 91-20-39821300

Fax No.: 91-20-39821444

 

 

R and D Centers :

API R and D

Plot 12/2, F – II Block, M.I.D.C., Pimpri, Pune – 411018, Maharashtra, India

Tel No.: 91-20-30613000

Fax No.: 91-20-30613056

 

Plot P-II, Infotech Park M.I.D.C. Hinjwadi, Pune – 411 057, Maharashtra, India

Tel No.: 91-20-39821350

Fax No.: 91-20-39821445

 

Formulation R and D

T 184, M.I.D.C, Bhosari, Pune – 411 026, Maharashtra, India

Tel No.: 91-20-30610000

Fax No.: 91-20-30610222

 

Biotechnology R and D

Plot No. I, IT-BT Park M.I.D.C. Hinjwadi, Pune – 411 057, Maharashtra, India

Tel No.: 91-20-39821300

Fax No.: 91-20-39821441

 

 

Representative office :

B/3-Shree Arihant Compound, Kalher Pipeline, Kalher Bhiwandi, Thane – 421302, Maharashtra, India

 

 

DIRECTORS

 

AS ON 28.07.2014

 

Name :

Mr. Satish Ramanlal Mehta

Designation :

Managing Director

Address :

4, Mumbai – Pune Road, Kirkee, Pune – 411003, Maharashtra, India

Date of Birth/Age :

13.01.1951

Date of Appointment :

01.04.2012

Qualification :

M. Sc., M.B.A. [IIMA]

Voter ID No.:

FGD0962068

DIN No.:

00118691

 

 

Name :

Mr. Arunkumar Purushotamalal Khanna

Designation :

Whole Time Director

Address :

Clover Hills, Bungalow No.63, Nibm Road, Kondhwa, Pune – 411048, Maharashtra, India

Date of Birth/Age :

09.07.1952

Qualification :

B. Sc, M.A. (Eco)

Date of Appointment :

05.01.2010

DIN No.:

00121686

 

 

Name :

Mr. Mahesh Nathalal Shah

Designation :

Whole Time Director (Technical)

Address :

303, Abhinav Sankul, Plot No. 1A, Survey No. 132, Aundh, Pune – 411007, Maharashtra, India

Date of Birth/Age :

03.10.1953

Qualification :

M. Sc.

Date of Appointment :

15.06.2011

Voter ID No.:

MT/ 42/ 246/ 0777545

DIN No.:

00118341

 

 

Name :

Dr. Mukund Keshav Gurjar

Designation :

Whole Time Director

Address :

Bungalow C – II / 2, NCL Colony, Pashan Road, Pune – 411008, Maharashtra, India

Date of Birth/Age :

28.08.1952

Qualification :

M. Sc., Ph. D.

Date of Appointment :

28.08.2012

Voter ID No.:

DRD0732172

DIN No.:

00026843

 

 

Name :

Mr. Berjis Minoo Desai

Designation :

Director

Address :

Yezerina II, 740/ 741, Parsi Colony Road No. 5, Dadar, Mumbai – 400014, Maharashtra, India

Date of Birth/Age :

02.08.1956

Qualification :

LLM

Date of Appointment :

03.04.1997

DIN No.:

00153675

 

 

Name :

Mr. Shreekant Krushnaji Bapat

Designation :

Director

Address :

Yashodhan, II Floor, United Western Co-Operative Housing Society, Karve Nagar, Pune - 411052, Maharashtra, India

Date of Birth/Age :

06.10.1937

Date of Appointment :

26.06.1999

DIN No.:

00621568

 

 

Name :

Mr. Hamayun Raja Dhanrajgir

Designation :

Director

Address :

Flat No. F – 37/38, Dhanraj Mahal, CSM Road, Apollo Bunder, Mumbai – 400039, Maharashtra, India

Date of Birth/Age :

02.12.1936

Date of Appointment :

23.09.2000

DIN No.:

00004006

 

 

Name :

Mr. Marvin Stanly Samson

Designation :

Director

Address :

752 Riverton Road, Moorestown, New Jersey – 08057

Date of Birth/Age :

20.06.1941

Date of Appointment :

27.08.2007

Date of Cessation :

20.10.2014

DIN No.:

01824691

 

 

Name :

Mr. Amit Mahendrakumar Dixit

Designation :

Nominee Director

Address :

Thakur Niwas, Flat No. 21, 173, Jamshedji Tata Road, Churchgate, Mumbai – 400020, Maharashtra, India

Date of Birth/Age :

26.01.1973

Date of Appointment :

01.03.2011

Qualification :

MBA, MS, B. Tech.

Date of Cessation :

16.07.2014

DIN No.:

01798942

 

 

Name :

Mr. Girish Laxmikant Telang

Designation :

Director

Address :

401, Sagar Dardhan, 4th Floor, Worli Sea Face, Mumbai – 400030, Maharashtra, India

Date of Birth/Age :

28.11.1949

Date of Appointment :

27.04.2012

DIN No.:

00455125

 

 

Name :

Mr. Mukund Pandurang Ranade

Designation :

Whole-Time Director

Address :

C-503, Pride Panorama Senapati Bapat Marg, Pune – 411016, Maharashtra, India 

Date of Birth/Age :

30.04.1956

Date of Appointment :

29.06.2012

DIN No.:

00109845

 

 

Name :

Mr. Sunil Rajnikant Mehta

Designation :

Whole-time Director

Address :

4, Mumbai – Pune Road, Kirkee, Pune – 411 003, Maharashtra, India

Date of Birth/Age :

23.03.1963

Date of Appointment :

05.06.2013

DIN No.:

00118469

 

 

Name :

Amit Ranbir Chandra

Designation :

Director

Address :

Flat C-4, 3rd Floor, Palacimo CHS., Bhulabhai Desai Road, Mumbai – 400026, Maharashtra, India

Date of Birth/Age :

12.06.1968

Date of Appointment :

28.07.2014

DIN No.:

00009797

 

 

Name :

Namita Vikas Thapar

Designation :

Whole-time director

Address :

Prasanna, 4 Mumbai Pune Road, Kirkee, Pune – 411003, Maharashtra, India

Date of Birth/Age :

21.03.1977

Date of Appointment :

01.08.2014

DIN No.:

05318899

 

 

KEY EXECUTIVES

 

Name :

Mr. Kedar Purshottam Phadke

Designation :

Secretary

Address :

D-4, Arvind Complex, Hingne Khurd Sinhgad Road, Pune-411051, Maharashtra, India

Date of Birth/Age :

31.08.1966

Date of Appointment :

19.11.2010

Pan No.:

ABQPP3732P

 

 

Name :

Mr. Gaurav

Designation :

Finance Manager

 

 

Name :

Mr. Amit Jadav

Designation :

Account Executive

 

 

MAJOR SHAREHOLDERS

 

 

NOTE: SHAREHOLDING DETAILS FILE ATTACHED.

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 28.07.2014

 

Category

Percentage

Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others

15.67

Directors or relatives of Directors

82.04

Other top fifty shareholders

2.29

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

The company is engaged in manufacturing of formulations and Active Pharma Ingredients (APIs).

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

 

PRODUCTION STATUS - NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

USV Limited

 

 

Customers :

Wholesalers, Retailers, End Users, Others, Hospital, Government Institute

 

Teva Pharmaceutical Industries Limited

 

 

No. of Employees :

Information declined by the management.

 

 

Bankers :

·         Bank of Maharashtra, Tejsingh Building, 35/B, Mumbai Pune Highway, Depodi, Pune – 411012, Maharashtra, India

·         The Saraswat Co-operative Bank Limited, Nana Chowk, Bombay – 400007, Maharashtra, India

·         Export –Import Bank of India, Centre One Building, 21st Floor, World Trade Centre Complex, Cuffe Parade, Mumbai-400005, Maharashtra, India

·         Axis Bank Limited, 2nd Floor, E Axis House, Bombay Dyeing Mill Compound, P. B. Marg, Worli, Mumbai-400025, Maharashtra, India

·         ABN Amro Bank N.V., 327, M.G. Road Camp, Pune-411001, Maharashtra, India

·         The Bank of Maharashtra Limited, Lokmangal, 1501, Shivaji Nagar, Pune – 411005, Maharashtra, India

·         Housing Development Finance Corporation Limited, Ramon House, 169, Backbay Reclamation, HT Parekh Marg, Mumbai-400020, Maharashtra, India

·         State Bank of India, Industrial Finance Branch, Tara Chamber, 2nd Floor, Mariaai Police Chowky, Pune-Mumbai Highway, Wakdewadi, Pune-411003, Maharashtra, India

·         IndusInd Bank Limited, 2401, Gen Timmayya Road, Contonment, Pune-411001, Maharashtra, India

·         BNP Paribas Bank, French Bank Building, 62, Homji Street, Fort, Mumbai-400001, Maharashtra, India

·         Citi Bank

·         Bank of India

 

 

Facilities :

SECURED LOANS

31.03.2014

Rs. In Millions

31.03.2013

Rs. In Millions

Long Term Borrowings

 

 

Term Loans

3262.991

3074.919

Short Term Borrowings

 

 

Working Capital Loans from Banks

(Hypothecation of Inventory, Book Debts and Receivables)

2368.627

1648.484

 

 

 

Total

5631.618

4723.403

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Price Waterhouse and Company

Chartered Accountants

Address :

Pune, Maharashtra, India

PAN No:

AAEFP3641G

 

 

Subsidiaries :
  • Emcure Brasil Farmaceutica Ltda
  • Emcure Nigeria Limited
  • Emcure Pharmaceuticals Mena FZ LLC.
  • Emcure Pharmaceuticals South Africa Pty Limited
  • Emcure Pharmaceuticals USA Inc.
  • Gennova Biopharmaceuticals Limited
  • Heritage Pharma Holdings Inc.
  • Zuventus Healthcare Limited
  • Emcure Pharma UK Limited
  • Emcure Pharmaceuticals Singapore Pte. Limited
  • Emcure Uth Healthcare Limited (from June 19, 2013)

 

 

Step-Down Subsidiary :
  • Heritage Pharmaceuticals Inc. (Subsidiary of Heritage Pharma Holdings Inc.)
  • Emcure Heritage Canada Inc. (Subsidiary of Heritage Pharma Holdings Inc.)
  • Kosina Ilac Sanayi Ve Dis Ticaret Anonim Sirketi (Subsidiry of Emcure Pharma UK Limited)

 

 

Joint Venture:

Biolab Emcure Farmaceutica Comercial Ltda. (Joint venture of Emcure Brasil Farmaceutica Ltda)

 

 

Enterprise over which Key Management Personnel have significant influence:
  • H.M. Sales Corporation
  • Uth Beverages Factory Private Limited
  • Emcure Uth Healthcare Limited
  • Uth Wellness Product Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

120000000

Equity Shares

Rs.10/- each

Rs.1200.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

45213029

Equity Shares

Rs.10/- each

Rs.452.130 Millions

 

 

 

 

 

 

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

452.130

351.657

351.657

(b) Reserves & Surplus

6870.290

5653.408

4820.358

(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)

7322.420

6005.065

5172.015

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

3262.991

3074.919

1909.271

(b) Deferred tax liabilities (Net)

973.334

704.910

572.740

(c) Other long term liabilities

380.612

549.837

386.309

(d) long-term provisions

65.356

62.151

480.460

Total Non-current Liabilities (3)

4682.293

4391.817

3348.780

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

2368.627

1648.484

1261.791

(b) Trade payables

3249.709

2366.077

2134.183

(c) Other current liabilities

3099.085

2512.518

1912.606

(d) Short-term provisions

693.093

255.073

300.863

Total Current Liabilities (4)

9410.514

6782.152

5609.443

 

 

 

 

TOTAL

21415.227

17179.034

14130.238

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

6427.558

5768.588

5813.875

(ii) Intangible Assets

870.066

731.121

136.190

(iii) Capital work-in-progress

357.537

46.335

7.336

(iv) Intangible assets under development

1439.193

1147.587

787.888

(b) Non-current Investments

1834.319

1701.963

1091.549

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

1439.106

814.516

633.030

(e) Other Non-current assets

28.490

36.070

22.005

Total Non-Current Assets

12396.269

10246.180

8491.873

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

3348.245

2316.972

1776.773

(c) Trade receivables

3445.958

3104.429

2121.230

(d) Cash and cash equivalents

697.745

99.168

203.034

(e) Short-term loans and advances

1131.072

1067.959

1278.603

(f) Other current assets

395.938

344.325

258.725

Total Current Assets

9018.958

6932.854

5638.365

 

 

 

 

TOTAL

21415.227

17179.034

14130.238

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

16286.399

13008.358

12272.273

 

 

Other Income

197.666

227.310

132.832

 

 

TOTAL                                     (A)

16484.065

13235.668

12405.105

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

4707.674

4592.073

5087.370

 

 

Purchases of stock-in-trade 

1922.200

1270.398

553.420

 

 

Changes in Inventories of Finished Goods, Work-in-progress and stock-in-trade

(350.625)

(440.703)

(169.145)

 

 

Employee benefit Expenses

2867.871

2316.934

1907.966

 

 

Other Expenses

3876.860

3093.249

2633.876

 

 

Exceptional Item

72.216

164.559

0.172

 

 

TOTAL                                     (B)

13096.196

10996.510

10013.659

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

3387.869

2239.158

2391.446

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

758.599

648.748

579.290

 

 

 

 

 

 

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

2629.270

1590.410

1812.156

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION                     (F)

615.762

508.979

456.429

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

2013.508

1081.431

1355.727

 

 

 

 

 

Less

TAX                                                                  (H)

269.245

115.883

151.422

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

1744.263

965.548

1204.305

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

 2276.580

1568.770

645.127 

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

Transfer to General Reserve

 174.480

96.560

120.431 

 

Dividend

 522.190

161.180

160.245 

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

3324.170

2276.580

1568.770

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

8494.500

6531.278

7028.797

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

2096.601

1997.902

2767.674

 

 

Spare Parts

19.846

23.324

16.102

 

 

Capital Goods

122.228

703.630

204.262

 

TOTAL IMPORTS

2238.675

2724.856

2988.038

 

 

 

 

 

 

Earnings Per Share (Rs.)

39.03

27.46

34.00

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin
(PAT / Sales)

(%)

10.71

7.42

9.81

 

 

 

 

 

Operating Profit Margin
(PBIDT/Sales)

(%)

20.80

17.21

19.49

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

11.32

7.57

11.07

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.27

0.18

0.26

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.77

0.79

0.61

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.96

1.02

1.01

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Share Capital

351.657

351.657

452.130

Reserves & Surplus

4820.358

5653.408

6870.290

Net worth

5172.015

6005.065

7322.420

 

 

 

 

long-term borrowings

1909.271

3074.919

3262.991

Short term borrowings

1261.791

1648.484

2368.627

Total borrowings

3171.062

4723.403

5631.618

Debt/Equity ratio

0.613

0.787

0.769

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Sales

12272.273

13008.358

16286.399

 

 

5.998

25.199

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Sales

12272.273

13008.358

16286.399

Profit

1204.305

965.548

1744.263

 

9.81%

7.42%

10.71%

 

 

 

 

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

Yes

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

Yes

18]

Major customers

Yes

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

Yes

34]

External Agency Rating, if available

Yes

 

 

RESULT OF OPERATIONS:

 

The Gross Revenue from Operations for the financial year under review was Rs. 16607.150 Million as compared to Rs.13296.600 Million recorded for the previous financial year. The Net Revenue from Operations after deducting Excise Duty was Rs. 16286.400 Million as compared to previous years, Net Revenue from Operations after deducting Excise Duty Rs. 13008.350 Million. Thus, the Net Revenue from Operations have recorded a growth of 25.20 %.

 

For the year, profit before exceptional item and tax is Rs. 2085.730 Million as compared to Rs. 1245.990 Million in financial year 2012-13.

 

LITIGATION DETAILS:

 

 

HIGH COURT OF BOMBAY

 

Case Details

 

 

Bench:-Bombay

 

 

 

PRESENTATION DATE : 10.11.2014

 

 

 

 

Lodging No.:-

CEXAL/369/2014

Filing Date:-

10.11.2014

 

 

 

 

Petitioner:-

COMMISSIONER OF CENTRAL EXCISE PU

Respondent:-

EMCURE PHARMACEUTICALS LIMITED. -

 

 

 

Petn.Adv.:-

ANAMIKA MALHOTRA (I1776)

 

 

 

 

 

 

 

District:-

PUNE

 

 

 

 

 

 

 

 

Bench:-

DIVISION

 

 

 

 

Status:-

Pre-Admission

Category:-

CENTRAL EXCISE APPEAL (CEXA)

 

 

 

 

 

 

 

 

 

 

Act :-

Central Excise and Salt Act

 

 

INDEX OF CHARGE:

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10526891

30/09/2014

400,000,000.00

STATE BANK OF INDIA

TARA CHAMBER,2ND FLOOR,NEAR MARIAAI POLICE CHOWKY, 
PUNE-MUMBAI HIGHWAY, WAKDEWADI, PUNE, MAHARASHTR 
A - 411003, INDIA

C30440721

2

10514772

05/08/2014

700,000,000.00

STATE BANK OF INDIA

INDUSTRIAL FINANCE BRANCH, TARA CHAMBERS, MUMBAI 
PUNE ROAD, WAKDEWADI, PUNE, MAHARASHTRA - 411003, 
INDIA

C16268807

3

10511694

17/07/2014

570,000,000.00

EXPORT-IMPORT BANK OF INDIA

CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE 
COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 4000 
05, INDIA

C13841333

4

10512625

10/07/2014

300,000,000.00

BANK OF INDIA

PUNE LARGE CORPORATE BRANCH,SUSHILP, 1290,, SHIVA 
JINAGAR, OPPO. HOTEL SWAN INN, OFF JM ROAD, PUNE, 
MAHARASHTRA - 411005, INDIA

C14827257

5

10495853

25/04/2014

350,000,000.00

STANDARD CHARTERED BANK

23, NARAIN MANZIL,, BARAKHAMBA ROAD,, NEW DELHI, 
DELHI - 110001, INDIA

C04807863

6

10494817

25/03/2014

969,600,000.00

EXPORT-IMPORT BANK OF INDIA

CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE 
COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 4000 
05, INDIA

C04566931

7

10481314

07/02/2014

300,000,000.00

BANK OF INDIA

'SUSHILP' BUILDING, 1290 SHIVAJI NAGAR, OPP HOTEL 
SWAN INN, OFF J. M. ROAD, PUNE, MAHARASHTRA - 411 
005, INDIA

B97941926

8

10438632

03/07/2013

642,120,000.00

AXIS BANK LIMITED

TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW G 
ARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, IN 
DIA

B80336795

9

10388115

08/11/2012

1,104,000,000.00

AXIS BANK LIMITED

2ND FLOOR-E, AXIS HOUSE, BOMBAY DYEING MILL COMPO 
UND, P.B. MARG, WORLI, MUMBAI, MAHARASHTRA - 40002 
5, INDIA

B62610936

10

10366726

26/07/2012

400,000,000.00

AXIS BANK LIMITED

2ND FLOOR-E, AXIS HOUSE, BOMBAY DYEING MILL COMPO 
UND, P.B. MARG, WORLI, MUMBAI, MAHARASHTRA - 40002 
5, INDIA

B44253698

 

* Date of charge modification

 

 

FIXED ASSETS

 

  • Leasehold Land Over the lease period
  • Office Building
  • Plant and Machinery
  • Electrical Installation
  • Air Handling Equipment
  • Office Equipments
  • Computers
  • Furniture and Fixtures
  • Vehicle - cars
  • Machinery Spares

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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 records 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.63.41

UK Pound

1

Rs.99.30

Euro

1

Rs.79.00

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

 

Analysis Done by :

SUB

 

 

Report Prepared by :

SNT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

8

PAID-UP CAPITAL

1~10

7

OPERATING SCALE

1~10

7

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

8

--PROFITABILIRY

1~10

7

--LIQUIDITY

1~10

8

--LEVERAGE

1~10

7

--RESERVES

1~10

8

--CREDIT LINES

1~10

7

--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

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

 

 

 

TOTAL

 

67

 

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

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.