MIRA INFORM REPORT
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Report Date : |
20.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
SVEN GENETECH LIMITED |
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Registered
Office : |
406/1, Alluri Trade Centre, Ushamullapudi Junction,
Kukatpally, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
03.02.2000 |
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Com. Reg. No.: |
033456 |
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Capital
Investment / Paid-up Capital : |
Rs. 221.000 Millions |
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CIN No.: [Company Identification
No.] |
U24230TG2000PLC033456 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufactures and markets peptide based pharmaceutical products. The company offers hair growth gel, cholesterol lowering neutraceutical, and Omega 3 fatty acid soft gel capsules. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
No Trace |
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Payment Behaviour : |
--- |
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Litigation : |
--- |
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Comments : |
Management has
failed to file latest financials after FYE10, with the statutory authorities. The company could not
be contacted due to lack of contact details, whereas we also failed to trace
the factory at the premises. Further, our
Executives tried and contacted some related parties who found to be former employees
of the subject named as Mr. Murthy and Mr. Ram Prasad who parted that the
subject has been shut down a year ago. Moreover, the
subject’s banker i.e. Punjab National Bank confiscated the firm’s assets for
the realization of defaulted secured debts amounting to Rs. 213.042 Millions
as on August 31, 2013 plus other future costs, which are recovered through
auction sale of the assets scheduled on June 06, 2014. In view of the
reasons best known to them extensive payments and financial are not available,
therefore dealings are recommended on a fully safe and secured 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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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.: 91-40-27731038
LOCATIONS
|
Registered Office : |
406/1, Alluri Trade Centre, Ushamullapudi Junction, Kukatpally, Hyderabad – 500072, Telangana, India |
|
Tel. No.: |
91-40-2799 0580 / 27731038 |
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Mobile No.: |
91-9948098305 (Ram Prasad) |
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Fax No.: |
91-40-2799 0530 / 27731038 / 27731801 |
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E-Mail : |
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Corporate Office : |
Door No.74, Surya Enclave, Trimulgherry, Hyderabad – 500015, Andhra Pradesh., India |
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Works 1 : |
Plot No.107, I.D.A., Phase II, Cherlapally, R.R. District, Hyderabad – 500051, Andhra Pradesh., India |
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Works 2 : |
Sy. No. 180/14 & 15, Kazipally Industrial Area, Jinnaram Mandal, Medak District, Andhra Pradesh., India |
DIRECTORS
AS ON 07.08.2010
|
Name : |
Venkat Ramana Kalavakolanu |
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Designation : |
Managing director |
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Address : |
71, Dhana Laxmi Society, Mahendra Hills, Secundrabad – 500026, Andhra
Pradesh, India |
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Date of Birth/Age : |
26.09.1962 |
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Date of Appointment : |
20.10.2008 |
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DIN No.: |
00176000 |
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Other Directorship:
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Name : |
Kyoganahalli Nanjundiah Guha |
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Designation : |
Director |
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Address : |
164, 6th Cross, 2nd Block, Jayanagar, Bangalore – 560011,
Karnataka, India |
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Date of Birth/Age : |
24.03.1947 |
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Date of Appointment : |
22.12.2004 |
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DIN No.: |
00580848 |
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Other Directorship:
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Name : |
Srinivasan Chakravarthi Mandayam |
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Designation : |
Director |
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Address : |
R H No. 17, Planet Millenium, Pimple Saudagar, Pune – 411027,
Maharashtra, India |
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Date of Birth/Age : |
17.08.1935 |
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Date of Appointment : |
24.02.2006 |
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DIN No.: |
00125504 |
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Other Directorship:
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KEY EXECUTIVES
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Name : |
Vijay krishna m. |
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Designation : |
Secretary |
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Address : |
Flat No.613, Block, “Ptithvi” My Home, Nava Dweepa, Madapur, Hyderabad – 500081, Andhra Pradesh, India |
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Date of Birth/Age : |
16.01.1985 |
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PAN No.: |
AGGPV2378G |
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Date of Appointment : |
01.12.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 07.08.2010
|
Names of Shareholders |
|
No. of Shares |
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K.S.
Sarma |
|
100 |
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K.Venkata
Ramana |
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100 |
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Pratap
Giri Subramanyam |
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100 |
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N.
Sridhar Rao |
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100 |
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P.
Veerabhadra Rao |
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100 |
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V.K.
Saipriya |
|
100 |
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B.
Srikanth |
|
100 |
|
Jupiter
Bioscience Limited, India |
|
19999300 |
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Dinesh
Kumar Singhi |
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1350000 |
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Dinesh
Kumar Singhi & Anurag Singhi |
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400000 |
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Dinesh
Kumar Singhi & Pranav Singhi |
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350000 |
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Total |
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22100000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 07.08.2010
|
Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufactures and markets peptide based pharmaceutical products. The company offers hair growth gel, cholesterol lowering neutraceutical, and Omega 3 fatty acid soft gel capsules. |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
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PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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Name : |
A. Vijay Kumar and Company Chartered Accountants |
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Address : |
Flat No. 206, Siri Towers, Besides Mythri Hospitalm Ameerpet, Hyderabad - 500 038, India |
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Tel. No.: |
AAMSA5749A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
35,000,000 |
Equity Shares |
Rs.10/- each |
Rs.350.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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22,100,000 |
Equity Shares |
Rs.10/- each |
Rs.221.000
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
221.000 |
200.000 |
200.000 |
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2] Share Application Money |
1234.179 |
1068.188 |
993.581 |
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3] Reserves & Surplus |
373.635 |
89.248 |
69.262 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1828.814 |
1357.436 |
1262.843 |
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LOAN FUNDS |
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1] Secured Loans |
303.503 |
219.914 |
90.034 |
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2] Unsecured Loans |
13.870 |
11.102 |
2.000 |
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TOTAL BORROWING |
317.373 |
231.016 |
92.034 |
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DEFERRED TAX LIABILITIES |
33.828 |
29.710 |
0.000 |
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TOTAL |
2180.015 |
1618.162 |
1354.877 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
868.934 |
596.708 |
488.793 |
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Capital work-in-progress |
777.432 |
512.806 |
432.268 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
91.261 |
80.093 |
59.421 |
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Sundry Debtors |
147.486 |
115.144 |
68.382 |
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Cash & Bank Balances |
25.558 |
7.321 |
8.264 |
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Other Current Assets |
0.049 |
0.049 |
0.049 |
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Loans & Advances and Deposits |
33.607 |
27.139 |
21.372 |
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Total Current Assets |
297.961 |
229.746 |
157.488 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
0.000 |
0.000 |
0.000 |
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Other Current Liabilities / Duty and Taxes |
40.634 |
10.533 |
13.946 |
|
Provisions |
17.867 |
4.754 |
3.915 |
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Total Current Liabilities |
58.501 |
15.287 |
17.861 |
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Net Current Assets |
239.460 |
214.459 |
139.627 |
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MISCELLANEOUS EXPENSES |
294.189 |
294.189 |
294.189 |
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|
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TOTAL |
2180.015 |
1618.162 |
1354.877 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SALES |
|
|
|
|
|
Income |
486.050 |
345.877 |
246.022 |
|
|
Other Income |
0.823 |
0.100 |
0.034 |
|
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TOTAL |
486.873 |
345.977 |
246.056 |
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
144.764 |
102.983 |
59.936 |
|
|
Manufacturing, Selling
and Administrative Expenses |
30.200 |
24.749 |
23.523 |
|
|
Research and Development
Expenses |
51.549 |
55.608 |
50.252 |
|
|
Employees benefits
expense |
29.988 |
29.162 |
22.348 |
|
|
Adjustment for Stock |
(9.026) |
(11.588) |
(9.090) |
|
|
TOTAL |
247.475 |
200.914 |
146.969 |
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|
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Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
239.398 |
145.063 |
99.087 |
|
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|
|
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|
Less |
FINANCIAL EXPENSES |
29.861 |
19.555 |
17.392 |
|
|
|
|
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|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
209.537 |
125.508 |
81.695 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
89.663 |
68.811 |
50.779 |
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|
|
PROFIT/ (LOSS) BEFORE TAX |
119.874 |
56.697 |
30.916 |
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Less |
TAX |
24.485 |
8.181 |
3.915 |
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|
PROFIT/ (LOSS) AFTER TAX
|
95.389 |
48.516 |
27.001 |
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|
Add |
Profit Carried forward
from previous year |
89.249 |
69.262 |
42.659 |
|
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|
Less/ Add |
Excess Provision
for Income Tax written back |
(0.038) |
(0.181) |
(0.446) |
|
|
|
|
|
|
|
Less/ Add |
Short Provision for
FBT written back |
0.035 |
(0.067) |
0.048 |
|
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|
|
|
|
Less/ Add |
Provision for
Deferred Tax Liability (earlier years) |
0.000 |
(28.281) |
0.000 |
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|
Profit carried to
the Balance Sheet |
184.635 |
89.249 |
69.262 |
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|
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|
EARNING PER SHARE |
4.32 |
2.43 |
1.35 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Net Profit Margin PAT/ Sales |
(%) |
19.63 |
14.03 |
10.98 |
|
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PBIDT / Sales |
(%) |
49.25 |
41.94 |
40.28 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.27 |
6.86 |
4.78 |
|
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|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
0.04 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.17 |
0.17 |
0.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.12 |
8.71 |
7.93 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2008 |
31.03.2009 |
31.03.2010 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
200.000 |
200.000 |
221.000 |
|
Reserves & Surplus |
69.262 |
89.248 |
373.635 |
|
Share Application money |
993.581 |
1068.188 |
1234.179 |
|
Net worth |
1262.843 |
1357.436 |
1828.814 |
|
|
|
|
|
|
long-term borrowings |
90.034 |
219.914 |
303.503 |
|
Short term borrowings |
2.000 |
11.102 |
13.870 |
|
Total borrowings |
92.034 |
231.016 |
317.373 |
|
Debt/Equity ratio |
0.073 |
0.170 |
0.174 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2008 |
31.03.2009 |
31.03.2010 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
246.022 |
345.877 |
486.050 |
|
|
|
40.588 |
40.527 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2008 |
31.03.2009 |
31.03.2010 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
246.022 |
345.877 |
486.050 |
|
Profit |
27.001 |
48.516 |
95.389 |
|
|
10.98% |
14.03% |
19.63% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
No |
|
12] |
Profitability for last
three years |
No |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
No |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
No |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
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 |
No |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10271790 |
09/04/2011 * |
475,000,000.00 |
STATE BANK OF INDIA |
MID CORPORATE GROUP, OVERSEAS BRANCH, 5-9-300, AB |
B09916412 |
|
2 |
10203226 |
04/02/2010 |
600,000,000.00 |
IFCI LIMITED |
8TH FLOOR, TARAMANDAL COMPLEX, NO.5-9-13, POST BO |
A79678413 |
|
3 |
10194446 |
09/09/2011 * |
172,500,000.00 |
Punjab National Bank |
Large Corporate Branch, 8-2-672, sufi Chambers,, |
B21685235 |
|
4 |
10145257 |
16/02/2009 |
20,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D,, NARIMAN POINT,, M |
A57841405 |
|
5 |
10145728 |
26/03/2010 * |
25,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D,, NARIMAN POINT,, M |
A84750199 |
|
6 |
10117243 |
14/07/2008 |
120,000,000.00 |
STATE BANK OF BIKANER & JAIPUR |
5-2-174/2, RASHTRAPATHI ROAD, SECUNDERABAD, Andhr |
A43616317 |
|
7 |
10066953 |
20/07/2010 * |
100,000,000.00 |
CANBANK FACTORS LIMITED |
FLAT NO. 201 AND 202, 2ND FLOOR, SANATANA ETERNAL, |
A89854806 |
* Date of charge modification
NOTE :
|
Listing ID : |
181657 |
|
Institution : |
Punjab National Bank |
|
Institution Branch : |
ARMB,Lakdikapul,Hyderabad |
|
Borrower Name : |
M/s.Sven Genetech Limited & Ors |
|
Property Type : |
Plant and Machinery |
|
Property Details : |
Plant and Machinery |
|
Address Details : |
Situated at , Plot No.107,Phase III, IDA Cherlapally, Ranga Reddy Dist, Ghatkesar, Hyderabad |
|
Reserve Price : |
INR 2.730 Millions |
|
Auction Date : |
02/12/2014 |
|
Auction Time : |
12:30 PM |
UNSECURED LOAN
|
PARTICULARS |
31.03.2010 (Rs.
in Millions) |
31.03.2009 (Rs.
in Millions) |
|
Security Deposits from Distributors |
2.100 |
2.100 |
|
Other Unsecured Loans |
11.770 |
9.002 |
|
|
|
|
|
Total |
13.870 |
11.102 |
FINANCIAL HIGHLIGHTS
During the period, the company recorded growth in sales and also improved the profitability in comparison to the last financial year. The growth in sales was 40.53 % while the growth in profitability was 96.61 % .The growth peptide derivatives, un-natural amino acids as well as from the formulation business where the products are gaining better acceptance and awareness in the market. The company’s business consists of research peptide APIs and precursors, un-natural amino acids, Beta amino acids and formulations. A brief overview on these businesses is provided below:
RESEARCH PEPTIDE APIs
AND PRECURSORS
The company is able to leverage its expertise to dedicate significant resources to support research in solid and solution-phase technologies, unusual sequences, validation of manufacturing process and analytical methods. These capabilities allows us to supply generic peptides as well as peptides and related products for therapeutic and diagnostic applications in HIV, osteoporosis, diabetes, Alzheimer’s, and many other human diseases.
UNNATURAL AMINO ACIDS
The company is one of the few international players manufacturing unnatural amino acids. Unnatural amino acids are amino acids which are generally not found in nature. Compared to the natural amino acids, un-natural amino acids offer several advantages as they are more potent and have enhanced rate of activity and stability. They are also not easily degraded and have longer duration of action. Thus today un-natural amino acids are being used as fillers or essential components of many drugs under development particularly antibiotics and peptide hormones.
The company is developing chemo-enzymatic process to prepare enantiomerically pure L- and D-amino acids in high yield by deracemisation of racemic starting materials. Unnatural amino acids, in high optical purity, are a rapidly growing class of intermediates required for pharmaceuticals, agrochemicals and other fine chemical applications.
BETA AMINO ACIDS
The company is one of the few companies in the world which synthesizes these amino acids for the research institutions and industries working worldwide on new peptide antibiotics.
CHARGES
Suit-filed accounts
of Rs. 10.000 Millions and above as on 20-Dec-2014
Borrowers details
Name Of Directors Reported by Credit Grantors Filing the Suit:
|
Sr. No. |
Directors Reported by Credit Grantors |
|
||
|
|
|
|
||
|
STATE BANK OF INDIA |
||||
|
1 |
Venkata Ramana Kalavakolana - Managing Director |
|
|
|
List Of Credit Grantors to which Sven Genetech Limited is a defaulter:
|
Names of Credit Grantors |
Branch |
Amount |
|
|
|
|
|
STATE BANK OF INDIA |
SAMB SECUNDERABAD |
359.655 |
|
|
Total |
359.655 |
Name Of Directors Reported by Credit Grantors Filing the Suit:
|
Sr.No. |
Directors Reported by Credit Grantors |
|
STATE BANK OF BIKANER & JAIPUR |
|
|
|
|
1 |
K.N.GUHA |
|
2 |
M.C.SRINIVASAN |
|
3 |
VENKAT R KALAVAKOANU |
List Of Credit Grantors to which SVEN GENETECH LIMITED is a defaulter:
|
Names of Credit Grantors |
Branch |
Amount |
|
|
|
|
|
STATE BANK OF BIKANER & JAIPUR |
R P ROAD, SECUNDRABAD |
65.900 |
|
|
Total |
65.900 |
Name Of Directors Reported by Credit Grantors Filing the Suit:
|
Sr.No. |
Directors Reported by Credit Grantors |
|
|
|
KOTAK MAHINDRA BANK
|
1 |
Kyoganahalli Nanjundiah Guha |
|
2 |
Srinvasan Chakravarthi Mandayam |
|
3 |
Venkat Ramana Kalavakolanu |
List Of Credit Grantors to which Sven Genetech Limited is a defaulter:
|
Names of Credit Grantors |
Branch |
Amount |
|
|
|
|
|
KOTAK MAHINDRA BANK |
MUMBAI |
58.700 |
|
|
Total |
58.700 |
FIXED ASSETS
- Land
- Buildings
- Plant, Machinery
- R & D Equipment
- Office Equipment
- Furniture and Fixtures
- Computers
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 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.63.07 |
|
|
1 |
Rs.98.73 |
|
Euro |
1 |
Rs.77.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SNT |
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.