. MIRA INFORM REPORT
|
Report Date : |
24.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
EMCURE PHARMACEUTICALS LIMITED |
|
|
|
|
Registered
Office : |
‘Emcure House’, T
– 184, MIDC, Bhosari, Pune – 411 026, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
16.04.1981 |
|
|
|
|
Com. Reg. No.: |
25-024251 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.351.657 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
: |
Manufacturer and
Marketing of Pharmaceuticals such as Antibiotics, Herbal, Bacteriological and
Biological Products. |
|
|
|
|
No. of Employees
: |
Information declined by Management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 24000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having a good track record. Overall financial position of the company appears to be strong and
healthy. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be regular and as per commitment. The company can be considered normal for business dealing 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.
INDIAN ECONOMIC OVERVIEW
India’s current
account deficit narrowed in the quarter ended September as government measures
to curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services sector
activity witnessed a moderate improvement in November over the previous month,
even while indicating the fifth successive monthly contraction, according the
HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third
quarter, according to a study by RSA. India ranks fourth in the list of nations
hit by phishing attacks. The US remained at the top of the charts. Phishing is
the process of acquiring information such as user names, passwords and credit
card details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
A+ [Long Term Bank Facilities] |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
July 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
A1 [Short Term Bank Facilities] |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
July 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 Co-Operative (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 : |
|
|
Website : |
|
|
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, MI.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, Tel No.: 91-20-30613000 Fax No.: 91-20-30613056 Plot P-II, IT-BT
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 |
DIRECTORS
AS ON 01.07.2013
|
Name : |
Mr. Satish
Ramanlal Mehta |
|
Designation : |
Managing Director |
|
Address : |
4, Mumbai – |
|
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, |
|
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, |
|
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, |
|
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 : |
|
|
Date of Birth/Age : |
20.06.1941 |
|
Date of Appointment : |
27.08.2007 |
|
DIN No.: |
01824691 |
|
|
|
|
Name : |
Mr. Amit Mahendrakumar Dixit |
|
Designation : |
Nominee Director |
|
Address : |
Thakur Niwas, Flat No. 21, 173, |
|
Date of Birth/Age : |
26.01.1973 |
|
Date of Appointment : |
01.03.2011 |
|
Qualification : |
|
|
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 |
KEY EXECUTIVES
|
Name : |
Mr. Kedar Purshottam Phadke |
|
Designation : |
Secretary |
|
Address : |
D-4, Arvind Complex, |
|
Date of Birth/Age : |
31.08.1966 |
|
Date of Appointment : |
19.11.2010 |
|
Pan No.: |
ABQPP3732P |
|
|
|
|
Name : |
Mr. Gaurav |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS
NOTE: SHAREHOLDING DETAILS FILE ATTACHED.
Equity Share Break up (Percentage of Total Equity)
AS ON 01.07.2013
|
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 |
15.67 |
|
Directors or relatives of Directors |
82.03 |
|
Other top fifty shareholders |
2.30 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and
Marketing of Pharmaceuticals such as Antibiotics, Herbal, Bacteriological and
Biological Products. |
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Licensed Capacity (In Lakhs) |
Installed Capacity (In Lakhs) |
Actual Production (In Lakhs) |
|
|
|
|
|
|
|
Capsules |
Numbers |
10000.00 |
10750.00 |
1438.42 |
|
Tablets |
Numbers |
50000.00 |
68395.00 |
47689.51 |
|
API |
Kilograms |
NA |
5.97 |
2.00 |
|
Injectibles |
Vials |
NA |
1570.00 |
146.83 |
|
Liquid |
Bottle |
NA |
237.60 |
97.37 |
|
Ointments |
Tubes |
-- |
-- |
56.23 |
|
Others |
-- |
-- |
-- |
32.47 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by 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 |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse
and Company Chartered
Accountants |
|
Address : |
252, Veer
Savarkar Marg, Shivaji Park, Dadar, Mumbai - 400021, Maharashtra, India |
|
PAN No: |
AAEFP3641G |
|
|
|
|
Subsidiaries : |
·
Emcure Brasil Farmaceutica Ltda
(formerly known as Emcure Brasil Representanco Commercial Farmaceutica Ltda) ·
Emcure Nigeria Limited ·
Emcure Pharmaceutical Mena FZ LLC. ·
Emcure Pharmaceutical 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 |
|
|
|
|
Step-Down Subsidiary : |
· Heritage Pharmaceuticals Inc (Subsidiary of Heritage Pharma Holding Inc) |
|
|
|
|
Other Related Parties : |
·
Falcon
Enterprises ·
H.M. Sales
Corporation ·
Uth Beverages
Factory Private Limited ·
Uth Healthcare
Private Limited ·
Uth Wellness
Products Limited |
CAPITAL STRUCTURE
AS ON 01.07.2013
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 |
|
|
|
|
|
AS ON 31.03.2013
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 |
|
|
|
|
|
|
35165689 |
Equity Shares |
Rs.10/- each |
Rs.351.657 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
351.657 |
351.657 |
|
(b) Reserves & Surplus |
|
5653.394 |
4820.358 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
0.000 |
0.000 |
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
6005.051 |
5172.015 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
3074.919 |
1909.271 |
|
(b) Deferred tax liabilities (Net) |
|
704.910 |
572.740 |
|
(c) Other long term liabilities |
|
549.837 |
386.309 |
|
(d) long-term provisions |
|
62.151 |
480.460 |
|
Total Non-current Liabilities (3) |
|
4391.817 |
3348.780 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
1648.484 |
1261.791 |
|
(b) Trade payables |
|
2366.077 |
2134.183 |
|
(c) Other current
liabilities |
|
2489.132 |
1912.606 |
|
(d) Short-term provisions |
|
278.452 |
300.863 |
|
Total Current Liabilities (4) |
|
6782.145 |
5609.443 |
|
|
|
|
|
|
TOTAL |
|
17179.013 |
14130.238 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
5768.588 |
5813.875 |
|
(ii) Intangible Assets |
|
731.121 |
136.190 |
|
(iii) Capital
work-in-progress |
|
46.335 |
7.336 |
|
(iv)
Intangible assets under development |
|
1147.587 |
787.888 |
|
(b) Non-current Investments |
|
1701.952 |
1091.549 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
814.516 |
633.030 |
|
(e) Other Non-current assets |
|
36.060 |
22.005 |
|
Total Non-Current Assets |
|
10246.159 |
8491.873 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
2316.972 |
1776.773 |
|
(c) Trade receivables |
|
3104.419 |
2121.230 |
|
(d) Cash and cash
equivalents |
|
99.171 |
203.034 |
|
(e) Short-term loans and
advances |
|
1067.963 |
1278.603 |
|
(f) Other current assets |
|
344.329 |
258.725 |
|
Total Current Assets |
|
6932.854 |
5638.365 |
|
|
|
|
|
|
TOTAL |
|
17179.013 |
14130.238 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
351.657 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
3760.134 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
4111.791 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
4321.400 |
|
|
2] Unsecured Loans |
|
|
285.248 |
|
|
TOTAL BORROWING |
|
|
4606.648 |
|
|
DEFERRED TAX LIABILITIES |
|
|
424.911 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
9143.350 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
5153.271 |
|
|
Capital work-in-progress |
|
|
933.930 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
776.272 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
1623.466
|
|
|
Sundry Debtors |
|
|
1753.753
|
|
|
Cash & Bank Balances |
|
|
109.750
|
|
|
Other Current Assets |
|
|
155.215
|
|
|
Loans & Advances |
|
|
1594.183
|
|
Total
Current Assets |
|
|
5236.367
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
1856.797
|
|
|
Other Current Liabilities |
|
|
909.615
|
|
|
Provisions |
|
|
190.078
|
|
Total
Current Liabilities |
|
|
2956.490
|
|
|
Net Current Assets |
|
|
2279.877
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
9143.350 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
13008.358 |
12272.273 |
9557.909 |
|
|
|
Other Income |
227.310 |
132.832 |
134.054 |
|
|
|
TOTAL (A) |
13235.668 |
12405.105 |
9691.963 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
4592.076 |
5087.370 |
4119.445 |
|
|
|
Purchases of stock-in-trade |
1270.387 |
553.420 |
237.526 |
|
|
|
Changes in Inventories of Finished Goods, Work-in-progress and
stock-in-trade |
(440.703) |
(169.145) |
(145.224) |
|
|
|
Employee benefit Expenses |
2316.924 |
1907.966 |
1543.886 |
|
|
|
Other Expenses |
3093.269 |
2633.876 |
2262.906 |
|
|
|
Exceptional Item |
164.559 |
0.172 |
0.000 |
|
|
|
TOTAL (B) |
10996.512 |
10013.659 |
8018.539 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2239.156 |
2391.446 |
1673.424 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
648.748 |
579.290 |
453.852 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1590.408 |
1812.156 |
1219.572 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
508.974 |
456.429 |
392.831 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1081.434 |
1355.727 |
826.741 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
115.883 |
151.422 |
254.596 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
965.551 |
1204.305 |
572.145 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
6531.278 |
7028.797 |
5074.750 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1997.902 |
2767.674 |
2210.240 |
|
|
|
Spare Parts |
23.324 |
16.102 |
7.540 |
|
|
|
Capital Goods |
703.629 |
204.262 |
185.670 |
|
|
TOTAL IMPORTS |
2724.855 |
2988.038 |
2403.450 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
27.00 |
34.00 |
17.31 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
7.30
|
9.71 |
5.90 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.31
|
11.05 |
8.65 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.57
|
11.07 |
7.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.26 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.79
|
0.61 |
1.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.02
|
1.01 |
1.77 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF LONG TERM DEBT:
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current maturity of long term debt |
1383.265 |
1205.519 |
Not available |
|
|
|
|
|
|
Total |
1383.265 |
1205.519 |
Not Available |
|
Sr. No. |
Check List by Info Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
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 |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating,
if available |
Yes |
RESULT OF OPERATIONS:
The Gross Revenue
from Operations for the financial year, was Rs.13296.609 Millions as compared
to Rs.12488.968 Millions recorded for the previous financial year. The Net Revenue
from Operations (after deducting Excise Duty of Rs.288.251 Millions) are
Rs.13008.358 Millions as compared to previous year’s Net Revenue from
Operations of Rs.12272.273 Millions (after deducting Excise Duty of Rs.216.695
Millions). Thus, the Net Revenue from Operations have recorded a growth of 6.0%
For the year, profit before exceptional item and tax is Rs.1245.992
Millions as compared to Rs.1355899 Millions in 2011-2012
LITIGATION DETAILS:
|
HIGH
COURT OF BOMBAY
|
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10438632 |
03/07/2013 |
642,120,000.00 |
AXIS
BANK LIMITED |
TRISHUL
3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD,
GUJARAT - 380006, INDIA |
B80336795 |
|
2 |
10388115 |
08/11/2012 |
1,104,000,000.00 |
AXIS
BANK LIMITED |
2ND
FLOOR-E, AXIS HOUSE, BOMBAY DYEING MILL COMPOUND, P.B. MARG, WORLI, MUMBAI,
MAHARASHTRA - 400025, INDIA |
B62610936 |
|
3 |
10366726 |
26/07/2012 |
400,000,000.00 |
AXIS
BANK LIMITED |
2ND FLOOR-E,
AXIS HOUSE, BOMBAY DYEING MILL COMPOUND, P.B. MARG, WORLI, MUMBAI,
MAHARASHTRA - 400025, INDIA |
B44253698 |
|
4 |
10343704 |
22/03/2012 |
600,000,000.00 |
AXIS
BANK LIMITED |
2ND FLOOR
- E, AXIS HOUSE, BOMBAY DYEING MILL COMPOUND, P. B. MARG, WORLI, MUMBAI,
MAHARASHTRA - 400025, INDIA |
B35635275 |
|
5 |
10321886 |
20/10/2011 |
340,000,000.00 |
HOUSING
DEVELOPMENT FINANCE CORPORATION LIMITED |
RAMON
HOUSE 169 BACKBAY RECLAMATION, H T PAREKH MARG, MUMBAI, MAHARASHTRA - 400020,
INDIA |
B27278274 |
|
6 |
10275233 |
23/03/2011 |
276,000,000.00 |
AXIS
BANK LIMITED |
CREDIT
MANAGEMENT CENTRE, 214/215, CITY MALL, NEAR PUNE UNIVERSITY, PUNE, MAHARASHTRA
- 411007, INDIA |
B08524878 |
|
7 |
10265084 |
02/02/2011 |
1,000,000,000.00 |
AXIS
BANK LIMITED |
2ND
FLOOR - E, AXIS HOUSE, BOMBAY DYEING MILL COMPOUND, P. B. MARG, WORLI,
MUMBAI, MAHARASHTRA - 400025, INDIA |
B05724059 |
|
8 |
10228273 |
10/02/2012
* |
6,325,400,000.00 |
AXIS
BANK LIMITED |
2ND
FLOOR - E, AXIS HOUSE, BOMBAY DYEING MILL COMPOUND, P. B. MARG, WORLI,
MUMBAI, MAHARASHTRA - 400025, INDIA |
B32401408 |
|
9 |
10225052 |
21/05/2013
* |
700,000,000.00 |
STATE
BANK OF INDIA INDUSTRIAL FINANCE BRANCH |
TARA
CHAMBER, 2ND FLOOR, MARIAAI POLICE CHOWKY, PUNE MUMBAI HIGHWAY, WAKDEWADI,
PUNE, MAHARASHTRA - |
B77648426 |
|
10 |
10216082 |
21/05/2013
* |
700,000,000.00 |
STATE
BANK OF INDIA |
TARA
CHAMBERS, WAKDEWADI IFB, PUNE, MAHARASHTRA - 411003, INDIA |
B77645802 |
* Date of charge modification
FIXED ASSETS:
· Freehold Land
· Leasehold Land
· Building
· Plant and Machinery
· Electrical Installation
· Air Handling Equipment
· Computer
· Office Equipment
· Furniture and Fixtures
· Vehicle
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.61.99 |
|
|
1 |
Rs.102.67 |
|
Euro |
1 |
Rs.83.98 |
INFORMATION DETAILS
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
54 |
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.