MIRA
INFORM REPORT
|
Report Date : |
11.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
SANDOZ PRIVATE LIMITED [w.e.f. 23.04.2003] |
|
|
|
|
Formerly Known
As : |
SANDOZ PHARMA ( |
|
|
|
|
Registered
Office : |
Sandoz House, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
30.03.1995 |
|
|
|
|
Com. Reg. No.: |
11-086989 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.32.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230MH1995PTC086989 |
|
|
|
|
IEC No.: |
MUMN06026G |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AAACS9267J |
|
|
|
|
PAN No.: [Permanent Account No.] |
Private Limited
Liability Company |
|
|
|
|
Legal Form : |
Manufacturing and
trading of pharmaceuticals products and providing services. |
|
|
|
|
No. of Employees
: |
Not Available [We tried to confirm
the number of employees but no one is ready to part any information from the
company management] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 11000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a subsidiary of “Novartis Holding AG, Basel” It is a well-established company having satisfactory track record.
Financially company appears to be good. Performance capability seems to be
high. The subject gets good support from its holding companies. The
promoters seem to be experienced businessman. Trade relations are reported to be fair. Business is active. Payment
are reported to be usually correct and as per commitments. The company can be considered for normal 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.
ECGC Country Risk Classification List – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital
firms in India during 2013, registering a drop of about 18 % over the previous
year. The Information Technology and IT-Enabled Services Industry
retained its status as the favourable venture capital investors in 2013.
Pakistan has temporarily banned gold imports for the second time in six months,
as it tries to stem smuggling into India. India’s import duty on gold is 10 %
and curbs on purchases have dried up legal imports into what used to be the
world’s biggest bullion buyers. The World Gold Council puts the amount smuggled
into India at upto 200 tonnes in 2013. The Reserve Bank of India has proposed
that unclaimed bank deposits estimated to be about Rs 35000 mn be used for
education and awareness among depositors. According to the plan, deposits
that have not been claimed for at least 10 years will be transferred to the scheme.
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.
LOCATIONS
|
Registered Office : |
Sandoz House, |
|
Tel. No.: |
91-22-24939258 / 24981620
/ 24982095 / 27639157 / 27639335 |
|
Fax No.: |
91-22-24981620 /
56512121 / 24982099 / 27639064 / 27639012 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Sandoz House,
Shivsagar Estate, A Block, 6th Floor, Mumbai – 400013, |
|
Tel. No.: |
91-22-24981623 |
|
|
|
|
Factory: |
MIDC, Plot No. 8-A/2,
8-B TTC Industrial Area, Kawle Block, Village Dighe, Opposite Thane Belapur
Road, Navi Mumbai – 400 708, Maharashtra, India |
|
Tel No.: |
91-22-24982091 |
|
Fax No. : |
91-22-24982099 |
|
|
|
|
Branch 1 : |
|
|
Tel. No.: |
91-22-25314080 |
|
Fax No.: |
91-22-25314111 |
|
|
|
|
Branch 2 : |
7th
Floor, Peninsula Towers, Corporate Park, Ganpatrao Kadam Marg, Off Senapati Bapat
Marg, Lower Parel, Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-56512100 |
|
Fax No.: |
91-22-56512121 |
|
|
|
|
Production
Site : |
Plot No. D-31 and
Plot No. D-32, MIDC, TTC Industrial Area, Turbhe, Navi Mumbai – 400705, |
|
Tel No.: |
91-22-55910485 |
|
Fax No. : |
91-22-55910472 |
DIRECTORS
As on 09.08.2013
|
Name : |
Mr. Vivek Devaraj |
|
Designation : |
Managing director |
|
Address : |
3, 319 A, Vallalar
Road, Uthandu Ecr, Chennai – 600119, Tamilnadu, India |
|
Date of
Birth/Age : |
18.06.1968 |
|
Date of
Appointment : |
16.11.2012 |
|
Pan No.: |
AABPV9979Q |
|
Din No.: |
06390939 |
|
|
|
|
Name : |
Mr.
Vijayanarayanan |
|
Designation : |
Additional Director |
|
Address : |
702, Hercules,
Lodha Paradise,Nr Majewada Flyover, Eastern Express Highway, Thane (West),
Thane – 400601, Maharashtra, India |
|
Date of
Birth/Age : |
23.04.1965 |
|
Date of
Appointment : |
29.08.2013 |
|
Din No.: |
06639177 |
|
|
|
|
Name : |
Mr. Jeffrey
Martin Rope |
|
Designation : |
Director |
|
Address : |
Zugerbergstrasse
37, Unterageri 6314, Switzerland |
|
Date of
Birth/Age : |
05.03.1962 |
|
Date of
Appointment : |
04.04.2013 |
|
Din No.: |
03641506 |
|
|
|
|
Name : |
Mr. Andreas
Brutsche Michael |
|
Designation : |
Additional
Director |
|
Address : |
Im Schindwasen 5,
Britzingen 79379 Mullheim |
|
Date of
Birth/Age : |
17.09.1962 |
|
Date of
Appointment : |
29.08.2013 |
|
Din No.: |
06659893 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 09.08.2013
|
Names of Shareholders |
|
No. of Shares |
|
Novartis Holding
A G, Switzerland |
|
3199995 |
|
Novartis A G,
Switzerland |
|
5 |
|
|
|
|
|
TOTAL
|
|
3200000 |
Equity Share Break up (Percentage of Total Equity)
As on 09.08.2013
|
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 |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and
trading of pharmaceuticals products and providing services. |
||||
|
|
|
||||
|
Products : |
·
Tablets ·
Bulk
Drugs ·
Nasal
Sprays |
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Installed
Capacity |
|
Bulk Drugs and Drug Intermediates |
Metric Tonnes |
472 |
|
Tablets |
Thousand Numbers |
3501032 |
|
Capsules |
Thousand Numbers |
798968 |
|
Vials |
Thousand Numbers |
11290 |
Information in respect of Licensed Capacity is not furnished in view of withdrawal of licensing requirements vide Gazette Notification No. S.O. 477(E) dated 25th July, 1991.
The installed capacities, being a technical matter, are as certified by the management and not verified by the auditors.
Installed Capacity of previous year excludes the production capacity for Tablets and Granules produced in Turbhe plant as production was discontinued and assets were held for sale. During the previous year, 2,659 Thousand Tablets and 8.3 Metric Tonnes of Granules were produced.
|
Particulars |
Unit |
Actual
Production |
|
Bulk Drugs and Drug Intermediates |
Metric Tonnes |
1290 |
|
Formulation: Tablets |
Thousand Numbers |
1171471 |
|
Capsules |
Thousand Numbers |
463525 |
|
Nasal Sprays |
Litres |
10210 |
|
Kit (Combi Pack of Capsules and Tablets) |
Thousand Numbers |
4025 |
|
Granules |
Kgs |
-- |
|
Injectables |
Thousand Vials/Ampoules |
2156 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available [We tried to
confirm the number of employees but no one is ready to part any information
from the company management] |
||||||||||||||||||
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|
||||||||||||||||||
|
Bankers : |
·
Standard
Chartered Bank, 90, M G Road, Fort, Mumbai – 400001, Maharashtra, India ·
BNP
Paribas, 62, Homji Street, Fort, Mumbai – 400001, Maharashtra, India ·
Union
Bank of India, Union Bank Bhavan, First Floor, 239, Vidhan Bhavan Marg, Nariman
Point, Mumbai – 400021, Maharashtra, India ·
Banque National De Paris, French Bank Buld.; 62,
Homji Street; Fort, Mumbai - 400001, Maharashtra, India |
||||||||||||||||||
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Facilities : |
|
|
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|
Banking Relations
: |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Lovelock and Lewes Chartered Accountants |
|
Address : |
252,Veer
Savarkar Marg, Shivaji Park, Dadar, Mumbai-400028, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAEFP5579P |
|
|
|
|
Holding Company: |
*Novartis Holding AG, Basel, Switzerland (holds 3,199,995 equity
shares i.e. 99.99% of the equity share capital of the Company at the
year-end). Note: (*no
transactions during the year). |
|
|
|
|
Fellow subsidiaries: |
·
Chiron Behring Vaccines Private Limited, India ·
CIN: U24230MH1997PTC111122 ·
PT Sandoz Indonesia ·
N.V. Sandoz S.A. ·
Salutas Pharma GmbH ·
Hexal AG ·
Sandoz U.S ·
JenaHexal Pharma Gmbh ·
Sandoz AG ·
Novartis Asia Pacific ·
Sandoz Do Brasil Industria ·
LEK Pharmaceuticals D D ·
Sandoz Canada Inc. ·
Novartis Pharma Services Inc. ·
Sandoz GmbH ·
Novartis Animal Health Australasia Pty Limited,
India ·
CIN: U15202MH1997PTC111257 ·
Sandoz S.P.A ·
Novartis Bangladesh Limited ·
CIN: L24200MH1947PLC006104 ·
Sandoz Inc. ·
Novartis Biociencias S.A. ·
Sandoz International GmbH ·
Novartis Consumer Health ·
S.A. Sandoz K K ·
Novartis Consumer Health, Inc ·
Sandoz Philipines Corporation ·
Novartis Corporation (Malaysia) ·
Sandoz A/S ·
Novartis Vaccines and Diagnostics Limited ·
Sandoz Pty Ltd ·
Novartis France S.A. ·
Sandoz (SA) Pty Ltd ·
Novartis Thailand Limited SC ·
Sandoz S.R.L. ·
Novartis Healthcare Private Limited ·
Befico Limited ·
Novartis India Limited Lek S.A ·
Novartis International AG ·
Sandoz Pharmaceuticals AG ·
PT Novartis Indonesia Sandoz ·
Syntek Ilac Hammaddeleri San. ve Tic. AS ·
Novartis Pharma (Pakistan) Limited ·
Sandoz Iiac Sanayi Ve Ticaret A.S. ·
Novartis Pharma AG ·
Novartis foundation for sustainable development ·
Novartis Pharma S.A.E. |
|
|
|
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10 each |
Rs.50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3200000 |
Equity Shares |
Rs.10 each |
Rs.32.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
32.000 |
32.000 |
32.000 |
|
(b) Reserves & Surplus |
2662.900 |
2253.600 |
1797.300 |
|
(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) |
2694.900 |
2285.600 |
1829.300 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
216.700 |
247.200 |
145.200 |
|
(c) Other long term liabilities |
20.700 |
15.500 |
25.700 |
|
(d) long-term provisions |
157.400 |
130.300 |
126.200 |
|
Total Non-current Liabilities (3) |
394.800 |
393.000 |
297.100 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
6234.400 |
6871.200 |
7067.700 |
|
(b) Trade payables |
3068.200 |
3370.600 |
2872.300 |
|
(c) Other current
liabilities |
273.100 |
249.200 |
1005.900 |
|
(d) Short-term provisions |
108.800 |
68.700 |
66.000 |
|
Total Current Liabilities (4) |
9684.500 |
10559.700 |
11011.900 |
|
|
|
|
|
|
TOTAL |
12774.200 |
13238.300 |
13138.300 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4530.400 |
4762.800 |
5024.700 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
180.900 |
409.700 |
258.800 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
519.700 |
519.100 |
439.300 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
5231.000 |
5691.600 |
5722.800 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
4619.200 |
4251.000 |
4776.100 |
|
(c) Trade receivables |
1656.400 |
1979.000 |
1423.000 |
|
(d) Cash and cash
equivalents |
46.000 |
7.800 |
45.900 |
|
(e) Short-term loans and
advances |
1172.100 |
1308.900 |
1165.000 |
|
(f) Other current assets |
49.500 |
0.000 |
5.500 |
|
Total Current Assets |
7543.200 |
7546.700 |
7415.500 |
|
|
|
|
|
|
TOTAL |
12774.200 |
13238.300 |
13138.300 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sale of Products [Net] |
13438.000 |
12046.000 |
9648.000 |
|
|
|
Sale of Service |
1090.000 |
1743.000 |
1592.000 |
|
|
|
Other Operating Revenue |
171.000 |
91.000 |
64.000 |
|
|
|
Other Income |
23.000 |
44.000 |
82.000 |
|
|
|
TOTAL |
14722.000 |
13924.000 |
11386.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
14105.000 |
13366.000 |
10912.000 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
617.000 |
558.000 |
474.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
208.000 |
102.000 |
148.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
409.000 |
456.000 |
326.000 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2155.000 |
1699.000 |
1373.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2565.000 |
2155.000 |
1699.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
2570.501 |
|
|
|
Packing Materials |
NA |
NA |
132.007 |
|
|
|
Finished Goods |
NA |
NA |
1.217 |
|
|
|
Capital Goods |
NA |
NA |
157.306 |
|
|
|
Spares and Consumables |
NA |
NA |
33.382 |
|
|
TOTAL IMPORTS |
NA |
NA |
2894.413 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
127.91 |
142.50 |
101.93 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
|
|
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.20
|
4.02 |
4.19 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.78
|
4.01 |
2.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
4.90
|
4.35 |
3.68 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.31
|
3.01 |
3.86 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.78
|
0.71 |
0.67 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
LITIGATION
DETAILS
CASE DETAILS
BENCH:-BOMBAY
|
|
Lodging No.:- |
ITXAL/763/2013 |
Filing Date:- |
28/05/2013 |
Reg. No.:- |
ITXA/1379/2013 |
Reg. Date:- |
22/07/2013 |
|
|
|
Petitioner:- |
COMMISSIONER OF INCOME TAX
7 |
Respondent:- |
M/S SANDOZ PRIVATE LIMITED
|
|
|
|
Petn.Adv.:- |
SV BHARUCHA |
Resp.Adv.:- |
KANGA AND COMPANY |
|
|
|
District:- |
MUMBAI |
|
|
|
Bench:- |
DIVISION |
|
|
|
|
|
Status:- |
Pre-Admission |
Category:- |
TAX APPEALS |
|
|
|
Next Date:- |
21/02/2014 |
Stage:- |
|
|
|
|
Coram:- |
ACCORDING TO SITTING LIST |
|
|
|
|
ACCORDING TO SITTING LIST |
|
|
|
Act :- |
Income Tax Act, 1961 |
Under Section:- |
260A |
PERFORMANCE /
OPERATIONS
SALES
Sales grew by 11.79% (Rs. 1,424 Mio) primarily due to increase in
exports.
Export sales increased by Rs. 1,234 Mio mainly arising out of products
of Kalwe and Turbhe plants. Increase in export sales as compared to earlier
year amounts to 11.88%.
PROFIT
Profit increased during the year mainly on account of higher sales and
better profitability.
BACKGROUND
Subject was incorporated on March 30, 1995 as Sandoz Pharma (India)
Private Limited. The name of the company was changed to Sandoz Private Limited
on April 23, 2003.
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Short-term
borrowings |
|
|
|
Term loans from banks |
1168.900 |
1796.400 |
|
Intercorporate deposits |
4598.000 |
4529.100 |
|
Total |
5766.900 |
6325.500 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
90158196 |
28/03/2007 * |
1,080,000,000.00 |
STANDARD CHARTERED BANK |
90, M G ROAD,,
FORT,, MUMBAI, MAHARASHTRA - 40000 |
- |
|
2 |
90157117 |
19/03/1999 * |
100,000,000.00 |
UNION BANK OF INDIA |
INDU. FINANCE
BRANCH; UNION BANK BHAVAN, 1ST FLOO |
- |
Note: * Date of charge modification
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
|
Claims against the Company not acknowledged
as debts |
|
|
|
(i) Income-tax matters |
|
|
|
- Matters decided in favour of the company
but disputed further by the income-tax authorities |
0.000 |
187.400 |
|
- Matters decided against the company in respect
of which the company has preferred an appeal |
164.000 |
424.200 |
|
(ii)
Sales tax matters |
10.500 |
10.200 |
|
(iii)
Excise, Service Tax and Customs matters |
23.200 |
12.300 |
|
(iv)
Others |
1.700 |
1.700 |
|
|
|
|
|
Guarantees given by banks to third parties
on behalf of the company |
66.700 |
79.300 |
|
Outstanding letters of credit issued by the
bank |
50.000 |
14.800 |
FIXED ASSETS
Tangible assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
Intangible assets
· Brands and trade marks
· Trade marks
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.62.19 |
|
|
1 |
Rs.102.14 |
|
Euro |
1 |
Rs.84.74 |
INFORMATION DETAILS
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
47 |
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.