MIRA
INFORM REPORT
|
Report Date : |
17.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
THEON PHARMACEUTICALS LIMITED |
|
|
|
|
Registered
Office : |
# 50, Sector - 28 A, Chandigarh – 160026 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
26.05.2005 |
|
|
|
|
Com. Reg. No.: |
53-028465 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.26.250 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231CH2005PLC028465 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCT2692J |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Undertakes contract manufacturing of pharmaceutical formulation, such
as tablets, capsules, injectable, and dry syrups. |
|
|
|
|
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 1500000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The management has failed to file its financial with government
department for the year 2013. As per available financial of 2012, the rating reflects comfortable
financial risk profile marked by adequate debt protection metrics and decent
profitability achieved by the company. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. 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.
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
December 30, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk.
|
|
Date |
December 30, 2013 |
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 DENIED
MANAGEMENT NON - COOPERATIVE (91-172-5210200)
LOCATIONS
|
Registered Office : |
# 50, Sector - 28 A, Chandigarh – 160026, India |
|
Tel. No.: |
91-172-5210200 |
|
Fax No.: |
91-172-5033851 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Plot No-400, Industrial Area, Phase-1, Panchkula-134113, Haryana, India |
|
Tel. No.: |
91-172-5011077 / 5210200 |
|
Fax No.: |
91-172-5033851 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Village Saini Majra,
Tehsil Nalagarh District Solan, Himachal Pradesh, India |
|
Tel. No.: |
91-1795-309200 / 265303 / 265304 / 669200 |
|
Fax No.: |
91-1795-309295 and 265302 |
|
E-Mail : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Bal Krishan Bansal |
|
Designation : |
Director |
|
Address : |
H. No.222, Sector-7, Panchkula, Haryana, India |
|
Date of Birth/Age : |
15.01.1953 |
|
Date of Appointment : |
27.05.2005 |
|
PAN No.: |
ADBPK3195Q |
|
DIN No.: |
00548350 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U24231CH2005PLC028465 |
THEON
PHARMACEUTICALS LIMITED |
Director |
27/05/2005 |
27/05/2005 |
- |
Active |
NO |
|
2 |
U70100CH2005PTC028911 |
DIPLOMAT
HOTELS PRIVATE LIMITED |
Director |
05/09/2005 |
05/09/2005 |
- |
Strike
off |
NO |
|
3 |
U72900KA2009PTC050123 |
WS
RETAIL SERVICES PRIVATE LIMITED |
Director |
28/02/2011 |
14/02/2011 |
06/09/2012 |
Active |
NO |
|
Name : |
Mr. Mukesh Bansal |
|
Designation : |
Director |
|
Address : |
H. No.222, Sector-7, Panchkula, Haryana, India |
|
Date of Birth/Age : |
18.06.1979 |
|
Date of Appointment : |
27.05.2005 |
|
DIN No.: |
00548369 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U24231CH2005PLC028465 |
THEON
PHARMACEUTICALS LIMITED |
Director |
27/05/2005 |
27/05/2005 |
Active |
NO |
|
2 |
U21022CH2010PTC032393 |
ISIS
PACKAGING PRIVATE LIMITED |
Director |
12/08/2010 |
12/08/2010 |
Active |
NO |
|
Name : |
Mr. Lajpat Rai Bansal |
|
Designation : |
Whole-time director |
|
Address : |
H. No.222, Sector-7, Panchkula, Haryana, India |
|
Date of Birth/Age : |
01.07.1960 |
|
Date of Appointment : |
10.05.2006 |
|
PAN No.: |
AAUPB5619G |
|
DIN No.: |
00548376 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U70100CH2005PTC028911 |
DIPLOMAT
HOTELS PRIVATE LIMITED |
Director |
05/09/2005 |
05/09/2005 |
Strike
off |
NO |
|
2 |
U24231CH2005PLC028465 |
THEON
PHARMACEUTICALS LIMITED |
Whole-time
director |
01/01/2012 |
10/05/2006 |
Active |
NO |
|
3 |
U21022CH2010PTC032393 |
ISIS
PACKAGING PRIVATE LIMITED |
Director |
12/08/2010 |
12/08/2010 |
Active |
NO |
|
Name : |
Mr. Anshul Bansal |
|
Designation : |
Whole-time director |
|
Address : |
H. No.203, Sector-7, Panchkula, Haryana, India |
|
Date of Birth/Age : |
08.03.1985 |
|
Date of Appointment : |
27.05.2005 |
|
PAN No.: |
AIOPB3430B |
|
DIN No.: |
00548418 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U24231CH2005PLC028465 |
THEON
PHARMACEUTICALS LIMITED |
Whole-time
director |
01/04/2011 |
27/05/2005 |
Active |
NO |
|
2 |
U51397CH2009PTC031474 |
IVA
HEALTHCARE PRIVATE LIMITED |
Director |
06/01/2009 |
06/01/2009 |
Active |
NO |
|
Name : |
Mr. Punit Bansal |
|
Designation : |
Whole-time director |
|
Address : |
H No. 109, Sector-7, Panchkula, Haryana, India |
|
Date of Birth/Age : |
12.08.1984 |
|
Date of Appointment : |
10.05.2006 |
|
DIN No.: |
00548436 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U24231CH2005PLC028465 |
THEON
PHARMACEUTICALS LIMITED |
Whole-time
director |
01/04/2011 |
10/05/2006 |
Active |
NO |
|
2 |
U51397CH2009PTC031474 |
IVA
HEALTHCARE PRIVATE LIMITED |
Director |
12/01/2009 |
12/01/2009 |
Active |
NO |
|
Name : |
Mr. Manish Bansal |
|
Designation : |
Director |
|
Address : |
H No.64, Sector 28-A, Chandigarh, India |
|
Date of Birth/Age : |
13.11.1978 |
|
Date of Appointment : |
08.07.2005 |
|
DIN No.: |
00548494 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U24231CH2005PLC028465 |
THEON
PHARMACEUTICALS LIMITED |
Director |
01/04/2009 |
08/07/2005 |
Active |
NO |
|
2 |
U51397CH2009PTC031474 |
IVA
HEALTHCARE PRIVATE LIMITED |
Director |
06/01/2009 |
06/01/2009 |
Active |
NO |
|
3 |
U21022CH2010PTC032393 |
ISIS
PACKAGING PRIVATE LIMITED |
Director |
15/10/2011 |
11/02/2011 |
Active |
NO |
|
Name : |
Mr. Amit Kumar Bansal |
|
Designation : |
Managing director |
|
Address : |
H No.64, Sector 28-A, Chandigarh, India |
|
Date of Birth/Age : |
24.04.1976 |
|
Date of Appointment : |
08.07.2005 |
|
PAN No.: |
ABBPB9319H |
|
DIN No.: |
01183281 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U24231CH2005PLC028465 |
THEON
PHARMACEUTICALS LIMITED |
Managing
director |
01/04/2011 |
08/07/2005 |
Active |
NO |
|
2 |
U51410CH2006PLC029773 |
BANSI
RAUNAQ ENERGY GROUP LIMITED |
Director |
23/02/2006 |
23/02/2006 |
Active |
NO |
|
3 |
U21022CH2010PTC032393 |
ISIS
PACKAGING PRIVATE LIMITED |
Director |
12/08/2010 |
12/08/2010 |
Active |
NO |
|
Name : |
Ms. Madhu Bansal |
|
Designation : |
Whole-time director |
|
Address : |
H No.64, Sector 28-A, Chandigarh, India |
|
Date of Birth/Age : |
17.06.1953 |
|
Date of Appointment : |
08.07.2005 |
|
PAN No.: |
APSPB7922D |
|
DIN No.: |
02428389 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U24231CH2005PLC028465 |
THEON
PHARMACEUTICALS LIMITED |
Whole-time
director |
01/04/2010 |
08/07/2005 |
Active |
NO |
|
2 |
U51397CH2009PTC031474 |
IVA
HEALTHCARE PRIVATE LIMITED |
Director |
12/01/2009 |
12/01/2009 |
Active |
NO |
|
Name : |
Ms. Shiana Bansal |
|
Designation : |
Whole-time director |
|
Address : |
H No.64, Sector 28-A, Chandigarh, India |
|
Date of Birth/Age : |
23.06.1982 |
|
Date of Appointment : |
01.04.2010 |
|
DIN No.: |
03062085 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U24231CH2005PLC028465 |
THEON
PHARMACEUTICALS LIMITED |
Whole-time
director |
01/04/2010 |
01/04/2010 |
Active |
NO |
|
2 |
U21022CH2010PTC032393 |
ISIS
PACKAGING PRIVATE LIMITED |
Director |
12/08/2010 |
12/08/2010 |
Active |
NO |
|
Name : |
Ms. Monika Bansal |
|
Designation : |
Whole-time director |
|
Address : |
H No.64, Sector 28-A, Chandigarh, India |
|
Date of Birth/Age : |
23.09.1980 |
|
Date of Appointment : |
08.07.2005 |
|
DIN No.: |
00633294 |
|
|
|
|
Name : |
Mr. Puran Chand Joshi |
|
Designation : |
Whole-time director |
|
Address : |
H No.117/B1, Ward No 2, Model Town, Pinjore, Haryana, India |
|
Date of Birth/Age : |
30.10.1966 |
|
Date of Appointment : |
05.10.2011 |
|
DIN No.: |
05216099 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Name
of Shareholders |
No.
of Shares |
%age |
|
Amit Kumar Bansal |
402000 |
15.31 |
|
|
105000 |
4.00 |
|
Manish Bansal |
399000 |
15.20 |
|
Madhu Bansal |
406500 |
15.49 |
|
Bal Krishan Bansal |
302250 |
11.51 |
|
Mukesh Bansal |
285000 |
10.86 |
|
Punit Bansal |
130500 |
4.97 |
|
Lajpat Rai Bansal |
174750 |
6.66 |
|
Anshul Bansal |
157500 |
6.00 |
|
Brij Bala |
262500 |
10.00 |
|
Total |
2,625,000 |
100.00 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Undertakes contract manufacturing of pharmaceutical formulation, such
as tablets, capsules, injectable, and dry syrups. |
GENERAL INFORMATION
|
Customers : |
Ř Abbott
Healthcare Private Limited Ř Albret David
Limited Ř Alembic Limited Ř Cipla Limited Ř FDC Limited Ř Fourrts Laborara
Ř Indoco Remedies
Limited Ř Mankind Pharma
Limited Ř Torrent
Pharmaceuticals Limited Ř Venus Remedies
Limited Ř Wanbury Limited Ř Zydus Cadila
Healthcare Limited |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
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] |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
HDFC Bank Limited, HDFC Bank House, Senapati
Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India ·
Canara Bank, Sco 117-118-119, Sector 17C,
Chandigarh – 160017, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S Kumar Gupta and Associates Chartered Accountants |
|
Address : |
SCO-35, 1st Floor, Madhya Marg, Sector-26, Chandigarh,
India |
|
Tel No. : |
91-172-5009400 / 01 / 02 |
|
Fax No. : |
91-172-5009400 |
|
PAN No.: |
AECPG2057F |
|
|
|
|
Associate : |
Ř IVA Healthcare
Private Limited CIN No. : U51397CH2009PTC031474 Ř ISIS Packaging
Private Limited CIN No. : U21022CH2010PTC032393 |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2625000 |
Equity Shares |
Rs.10/- each |
Rs.26.250
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
26.250 |
17.500 |
|
(b) Reserves & Surplus |
|
348.153 |
186.743 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
374.403 |
204.243 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
122.576 |
36.579 |
|
(b) Deferred tax liabilities (Net) |
|
12.014 |
11.476 |
|
(c) Other long term liabilities |
|
26.940 |
2.208 |
|
(d) long-term provisions |
|
1.903 |
0.775 |
|
Total
Non-current Liabilities (3) |
|
163.433 |
51.038 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
76.209 |
100.407 |
|
(b) Trade payables |
|
412.957 |
239.420 |
|
(c) Other current liabilities |
|
26.573 |
21.161 |
|
(d) Short-term provisions |
|
11.859 |
12.111 |
|
Total Current
Liabilities (4) |
|
527.598 |
373.099 |
|
|
|
|
|
|
TOTAL |
|
1,065.434 |
628.380 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
294.839 |
174.218 |
|
(ii) Intangible Assets |
|
0.445 |
0.000 |
|
(iii) Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.050 |
0.050 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
42.195 |
1.589 |
|
(e) Other Non-current assets |
|
0.000 |
0.016 |
|
Total
Non-Current Assets |
|
337.529 |
175.873 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
180.938 |
95.697 |
|
(c) Trade receivables |
|
439.691 |
306.008 |
|
(d) Cash and cash equivalents |
|
11.613 |
3.907 |
|
(e) Short-term loans and advances |
|
95.005 |
46.875 |
|
(f) Other current assets |
|
0.658 |
0.020 |
|
Total Current
Assets |
|
727.905 |
452.507 |
|
|
|
|
|
|
TOTAL |
|
1,065.434 |
628.380 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
17.500 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
81.646 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
99.146 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
89.355 |
|
|
2] Unsecured Loans |
|
|
12.400 |
|
|
TOTAL BORROWING |
|
|
101.755 |
|
|
DEFERRED TAX LIABILITIES |
|
|
10.063 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
210.964 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
150.166 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.050 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
82.274 |
|
|
Sundry Debtors |
|
|
176.043 |
|
|
Cash & Bank Balances |
|
|
2.372 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
27.593 |
|
Total
Current Assets |
|
|
288.282 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
176.326 |
|
|
Other Current Liabilities |
|
|
3.805 |
|
|
Provisions |
|
|
47.436 |
|
Total
Current Liabilities |
|
|
227.567 |
|
|
Net Current Assets |
|
|
60.715 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.033 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
210.964 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1521.094 |
1051.734 |
616.791 |
|
|
|
Other Income |
0.539 |
1.036 |
0.119 |
|
|
|
TOTAL (A) |
1521.633 |
1052.770 |
616.910 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1121.948 |
798.743 |
|
|
|
|
Changes in inventories of finished goods and work-in-progress |
(5.477) |
(1.228) |
|
|
|
|
Employee benefits expenses |
49.305 |
25.629 |
|
|
|
|
Other manufacturing expenses |
126.516 |
79.430 |
|
|
|
|
TOTAL (B) |
1292.292 |
902.574 |
548.489 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
229.341 |
150.196 |
68.421 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
16.351 |
13.576 |
14.782 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
212.990 |
136.620 |
53.639 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
15.682 |
14.130 |
11.282 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
197.308 |
122.490 |
64.921 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.928 |
0.135 |
5.445 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
195.380 |
122.625 |
59.476 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
74.43 |
46.71 |
23.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
12.84 |
11.65 |
9.64 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
12.97 |
11.65 |
10.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.52 |
19.49 |
14.81 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.53 |
0.60 |
0.65 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.53 |
0.67 |
1.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.38 |
0.47 |
1.27 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
17.500 |
26.25 |
|
Reserves & Surplus |
186.743 |
348.153 |
|
Net
worth |
204.243 |
374.403 |
|
|
|
|
|
long-term borrowings |
36.579 |
122.576 |
|
Short term borrowings |
100.407 |
76.209 |
|
Total
borrowings |
136.986 |
198.785 |
|
Debt/Equity
ratio |
0.671 |
0.531 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
616.791 |
1051.734 |
1521.094 |
|
|
|
70.517 |
44.627 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
616.791 |
1051.734 |
1521.094 |
|
Profit |
59.476 |
122.625 |
195.380 |
|
|
9.64% |
11.66% |
12.84% |
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 |
No |
|
17] |
Major suppliers |
No |
|
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 |
-- |
|
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 |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
|
PARTICULAR |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
12.400 |
12.400 |
|
|
|
|
|
Total |
12.400 |
12.400 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification
|
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10395140 |
30/01/2013 * |
20,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (West), MUMBAI -
400013, Maharashtra -, INDIA |
B67327551 |
|
2 |
10318631 |
29/11/2013 * |
20,666,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (West), MUMBAI -
400013, Maharashtra -, INDIA |
B92021369 |
|
3 |
10298451 |
29/11/2013 * |
663,507,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (West), MUMBAI -
400013, Maharashtra -, INDIA |
B92021633 |
|
4 |
10092434 |
10/03/2008 |
3,000,000.00 |
GOVERNOR OF HIMACHAL PRADESH (THROUGH GM INDUSTRIES CENTRE) |
DIRECTORATE OF INDUSTRIES, GOVERNMENT OF HIMAHAL PRADESH, SHIMLA -
171001, Himachal Pradesh, INDIA |
A34077925 |
* Date of charge modification
CONTINGENT
LIABILITY:
(Rs.
In Millions)
|
Particulars
|
31.03.2012 |
31.03.2011 |
|
Claims against the company not acknowledge
as debt |
0.249 |
0.000 |
|
Inter Corporate Guarantees (for ISIS
Packing Private Limited) |
24.000 |
0.000 |
|
Performance bank Guarantee |
7.332 |
0.000 |
|
Letter of Credit on Capital Goods (LC opened
but goods not received till 31.03.2012) |
1.551 |
0.000 |
|
LC discounted (netted off from debtors) |
1.374 |
0.950 |
FIXED ASSETS:
·
Land and Building
·
Vehicles (Commercial and Passenger)
·
Office and Plant Furniture
·
Computers
·
Lab Items
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 records 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.62.28 |
|
|
1 |
Rs.103.67 |
|
Euro |
1 |
Rs.85.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.