MIRA INFORM REPORT
|
Report Date : |
27.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
LAURUS LABS PRIVATE LIMITED (w.e.f. 21.02.2012) |
|
|
|
|
Formerly Known
As : |
APTUIT LAURUS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2nd Floor, Serene Chambers, Road No 7, Banjara Hills,
Hyderabad, Andhra Pradesh – 500034 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation
: |
19.09.2005 |
|
|
|
|
Com. Reg. No.: |
01-047518 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.777.010 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24239AP2005PTC047518 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCL1170C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers of specially nutraceutical ingredients that can be
integrated into dietary supplements, nutritional products and functional
foods. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 10000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having a fine track record. The management has seen significant improvement in the financial
performance, characterised by robust growth in revenues and improvement in
profitability margin during 2013. Liquidity position of the company appears to be sound. The rating also take into consideration the regulatory approvals which
are been successfully sanctioned by various countries for established its
facilities. Trade relations are fair. Business is active. Payment terms are
reported as regular and as per commitments. In view of experienced promoters and various strategic partnerships
with reputed organisation, the subject can be considered good for business
dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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
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 |
Long term bank facilities: A- |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
10.07.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
10.07.2013 |
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.
LOCATIONS
|
Registered / Corporate Office : |
2nd Floor, Serene Chambers, Road No 7, Banjara Hills, Hyderabad,
Andhra Pradesh – 500034, India |
|
Tel. No.: |
91-40-39804333 / 23420500/501 |
|
Fax No.: |
91-40-39804320 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Research and Development Office
: |
Plot No: DS1, |
|
Tel. No.: |
91-40-23480480 |
|
Fax No.: |
91-40-23480481 |
|
|
|
|
Drug Substance Facility : |
Plot No. 21, |
|
Tel. No.: |
91-8913061222 |
|
Fax No.: |
91-8913061270 |
|
|
|
|
Aptuit Informatics: |
Plot No. 100-101, |
|
Tel. No.: |
91-80-41907800 |
|
Fax No.: |
91-80-41907805 |
DIRECTORS
As on 13.06.2013
|
Name : |
Dr. Chava Satyanarayana |
|
Designation : |
Whole Time Director and Chief Executive Officer |
|
Address : |
H.No.8 – 2 – 293/82/A/303, Plot No. 303, Road No. 25, Jubilee Hillis,
Hyderabad – 500 033, Andhra Pradesh, India |
|
Date of Birth/Age : |
10.03.1961 |
|
Qualification : |
M.Sc ; Ph.D |
|
Date of Appointment : |
21.01.2006 |
|
DIN No.: |
00211921 |
|
PN No.: |
ABWPC2407Q |
|
|
|
|
Name : |
Dr. Sri Hari Raju Kalidindi |
|
Designation : |
Executive Director |
|
Address : |
Villa No. 3, Aparna Orchids, Izzatnagar, Kondapur, Hyderabad – 500
084, Andhra Pradesh, India |
|
Date of Birth/Age : |
01.07.1963 |
|
Qualification : |
M.Sc ; Ph.D |
|
Date of Appointment : |
24.04.2006 |
|
DIN No.: |
00982034 |
|
PAN No.: |
ASTPK1009N |
|
|
|
|
Name : |
Mr. Venkata Ravi Kumar Vantaram |
|
Designation : |
Executive Director |
|
Address : |
No. 8, Sai Ansh Arcade, Durga Vihar Colony, Tirumalgherry, Hyderabad –
500 015, Andhra Pradesh, India |
|
Date of Birth/Age : |
01.07.1965 |
|
Qualification : |
M.Com; AICWA |
|
Date of Appointment : |
30.11.2006 |
|
PAN No.: |
ACFPV4907L |
|
DIN No.: |
01424180 |
|
|
|
|
Name : |
Mr. Rajesh Kumar Dugar |
|
Designation : |
Director |
|
Address : |
31, Chitrakoot, Altamount Road, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
01.07.1969 |
|
Date of Appointment : |
14.02.2012 |
|
DIN No. : |
00307729 |
|
|
|
|
Name : |
Dr. Robert Mark Weisskoff |
|
Designation : |
Director |
|
Address : |
18, Preston Road, Lexington Massachusetts – 024203227 |
|
Date of Birth/Age : |
22.06.1962 |
|
Date of Appointment : |
14.02.2012 |
|
DIN No. : |
05122018 |
|
|
|
|
Name : |
Mr. Brian Thomas Regan |
|
Designation : |
Director |
|
Address : |
115, Bay Berry Road, New Canaan Connecticut 06840 |
|
Date of Birth/Age : |
29.11.1977 |
|
Date of Appointment : |
14.02.2012 |
|
DIN No. : |
05205905 |
|
|
|
|
Name : |
Mr. Francis Jackson Wright |
|
Designation : |
Director |
|
Address : |
10 Greenwich Terrace, 104 Ritch Avenue West, Greenwich CT - 06831 |
|
Date of Birth/Age : |
24.01.1948 |
|
Date of Appointment : |
14.02.2012 |
|
DIN No. : |
01609467 |
|
|
|
|
Name : |
Mr. Amal Ganguli |
|
Designation : |
Director |
|
Address : |
J-6/7, DLF, Phase – II, Gurgaon, Haryana – 122002, India |
|
Date of Birth/Age : |
17.10.1939 |
|
Date of Appointment : |
30.08.2007 |
|
DIN No. : |
00013808 |
KEY EXECUTIVES
|
Name : |
Mr. Nagaraj Kumar Annabattula |
|
Designation : |
Company Secretary |
|
Address : |
5-22, Sai Vihar Nagar, Phase – I, Meerpet, Ranga Reddy District – 079,
|
|
Date of Birth/Age : |
05.05.1975 |
|
Date of Appointment : |
16.06.2007 |
|
PAN No.: |
AEJPA0477L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 13.06.2013
SHAREHOLDING DETAIL FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 13.06.2013
|
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 |
46.30 |
|
Bodies corporate |
1.31 |
|
Directors or relatives of Directors |
41.30 |
|
Other top fifty shareholders |
11.09 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of specially nutraceutical ingredients that can be
integrated into dietary supplements, nutritional products and functional
foods. |
||||
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|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||
|
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|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
· ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India · ING Vysya Bank Limited, 1-7-1,T.Subbarami Reddy Complex, Sardar Patel Road,, Secunderabad - 500003, Andhra Pradesh, India · Bank Of Bahrain and Kuwait B.S.C., 6-3-550, L.B. Bhawan, Akashganga, Somajiguda, Hyderabad - 500082, Andhra Pradesh, India · Punjab National Bank, 4-1-427, Agm's Office, Bank Street, Hyderabad - 500001, Andhra Pradesh, India · State Bank of Hyderabad, Industrial Finance Branch, Topaz Building, Amrutha Hills, Punjagutta, Hyderabad - 500082, Andhra Pradesh, India ·
State Bank of India, Overseas Branch, 2nd
Floor, Rajala Centre, Road No.36, Jubilee Hill, Hyderabad - 500033, Andhra
Pradesh, India |
||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institute: |
Tata Capital Limited, One Forbes, Dr V B Gandhi Marg, Fort, Mumbai - 400001, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi Associates Chartered Accountant |
|
Address : |
Plot No 18, Oval Office, Ilabs Centre Software Units,
Layout Hitee City, Madhapur, Hyderabad – 500081, India |
|
Tel No. : |
91-40-66274202 |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABFS3421N |
|
|
|
|
Company which
exercises significant influence: |
· FIL Capital Management(Mauritius) Limited # · FIL Capital Advisor Trustee Company Private Limited # · Aptuit Kansas City LLC ## · Aptuit Edinburgh Ltd ## · Aptuit (Deeside) Limited ## · Aptuit (Glasgow) Limited ## · Aptuit Oxford Limited ## Note: · # effective from February 14, 2012 · ## Ceased from February 14, 2012 |
CAPITAL STRUCTURE
As on: 13.06.2013
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20899496 |
Equity Shares |
Rs.10/- each |
Rs.208.995 Millions |
|
6900000 |
Preference Shares |
Rs.10/- each |
Rs.69.000 Millions |
|
2477387 |
Preference Shares |
Rs.243/- each |
Rs. 602.005 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.880.000
Millions |
Issued, Subscribed
& Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15363505 |
Equity Shares |
Rs.10/- each |
Rs.153.635 Millions |
|
2259060 |
Preference Shares |
Rs.10/- each |
Rs. 22.590 Millions |
|
2477387 |
Preference Shares |
Rs.243/- each |
Rs. 602.005 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.778.230
Millions |
As on 31.03.2013
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20899496 |
Equity Shares |
Rs.10/- each |
Rs.208.995 Millions |
|
6900000 |
Preference Shares |
Rs.10/- each |
Rs.69.000 Millions |
|
2477387 |
Preference Shares |
Rs.243/- each |
Rs. 602.005 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.880.000
Millions |
Issued, Subscribed
& Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15240630 |
Equity Shares |
Rs.10/- each |
Rs.152.406 Millions |
|
2259060 |
Preference Shares |
Rs.10/- each |
Rs. 22.590 Millions |
|
2477387 |
Preference Shares |
Rs.243/- each |
Rs. 602.005 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.777.001
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 |
777.010 |
777.010 |
173.000 |
|
(b) Reserves & Surplus |
1815.980 |
914.850 |
699.250 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.010 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
2592.990 |
1691.860 |
872.260 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
687.030 |
363.370 |
904.530 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
41.810 |
10.860 |
|
(d) long-term provisions |
28.010 |
17.730 |
0.000 |
|
Total Non-current Liabilities (3) |
715.040 |
422.910 |
915.390 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1778.420 |
1289.880 |
976.280 |
|
(b) Trade payables |
1322.410 |
970.850 |
883.490 |
|
(c) Other current
liabilities |
569.010 |
716.250 |
541.140 |
|
(d) Short-term provisions |
57.060 |
59.750 |
16.870 |
|
Total Current Liabilities (4) |
3726.900 |
3036.730 |
2417.780 |
|
|
|
|
|
|
TOTAL |
7034.930 |
5151.500 |
4205.430 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2342.640 |
1862.530 |
1888.230 |
|
(ii) Intangible Assets |
12.890 |
2.870 |
1.730 |
|
(iii) Capital
work-in-progress |
727.810 |
321.150 |
10.970 |
|
(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) |
118.200 |
97.000 |
97.000 |
|
(d) Long-term Loan and Advances |
328.500 |
92.360 |
26.290 |
|
(e) Other Non-current assets |
196.240 |
77.950 |
94.220 |
|
Total Non-Current Assets |
3726.280 |
2453.860 |
2118.440 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1561.900 |
986.320 |
756.230 |
|
(c) Trade receivables |
1566.960 |
1483.140 |
1255.440 |
|
(d) Cash and cash
equivalents |
26.690 |
92.440 |
4.100 |
|
(e) Short-term loans and
advances |
124.180 |
83.290 |
70.890 |
|
(f) Other current assets |
28.920 |
52.450 |
0.330 |
|
Total Current Assets |
3308.650 |
2697.640 |
2086.990 |
|
|
|
|
|
|
TOTAL |
7034.930 |
5151.500 |
4205.430 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
7185.000 |
4507.000 |
2819.550 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1499.000 |
795.000 |
484.920 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
412.000 |
396.000 |
253.940 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1087.000 |
399.000 |
230.980 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
226.000 |
183.000 |
172.080 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
861.000 |
216.000 |
58.900 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(21.000) |
0.000 |
(35.000) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
882.000 |
216.000 |
93.900 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
57.88 |
19.45 |
9.02 |
|
|
|
Diluted |
43.41 |
9.64 |
4.22 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
11.98
|
4.79
|
2.09 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
33.20
|
4.56
|
1.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33
|
0.13
|
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.95
|
0.98
|
2.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.89
|
0.88
|
2.39 |
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 |
-- |
|
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 |
Yes |
BUSINESS OPERATIONS
During the year the Company achieved:
Growth of 59% revenue, 89% EBITDA and 299% PBT over previous year Scrip award - Best Company in an Emerging Market Pharmexcil award for Outstanding Exports Performance FAPCCI award for Excellence in export performance Development of 7 new generic APIs totaling to 40 commercialised APIs Manufacture of 3 clinical phase APIs Development 2 nutraceutical products Filing of 8 drug master files totaling to 23 products Filing of 16 patents totaling to 68 patents US FDA, WHO, EDQM approvals for Visakhapatnam drug substance facility Investment of Rs.1,100 Mn for creation and expansion of production suites.
OUTLOOK
Business prospects remain positive because of the growing global demand for generics and opportunities provided by patents expiring in developed markets. The business proportions and synergies forms part of growth prospects which are discussed in detail in the Management’s Discussion and Analysis (MDA), which forms part of this Annual Report.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10468024 |
16/12/2013 |
490,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
CENTRE ONE
BUILDING, FLOOR 21, WORLD TRADE CENTRE |
B92662568 |
|
2 |
10449850 |
06/09/2013 |
225,300,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B85312635 |
|
3 |
10441811 |
15/07/2013 |
250,000,000.00 |
CITIBANK N. A. |
1ST FLOOR,
QUEENS PLAZA, SARDAR PATEL ROAD, HYD |
B81301582 |
|
4 |
10406036 |
03/08/2013 * |
1,000,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
CENTRE ONE BUILDING,
FLOOR 21, WORLD TRADE CENTRE |
B83339739 |
|
5 |
10373290 |
03/08/2013 * |
650,000,000.00 |
ING VYSYA BANK LIMITED |
22,GROUND FLOOR,
ING VYSYA HOUSE, M.G.ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
B82948688 |
|
6 |
10369823 |
03/08/2013 * |
297,000,000.00 |
BANK OF BAHRAIN AND KUWAIT B.S.C. |
43, GOVERNMENT
AVENUE, P O BOX 597,, MANAMA, - 597, BAHRAIN |
B83337220 |
|
7 |
10316958 |
03/08/2013 * |
250,000,000.00 |
BANK OF BAHRAIN AND KUWAIT B.S.C. |
6-3-550, L.B.
BHAWAN, AKASHGANGA, SOMAJIGUDA, HYDERABAD, ANDHRA PRADESH - 500082, INDIA |
B83356568 |
|
8 |
10313484 |
03/08/2013 * |
370,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B83301499 |
|
9 |
10292162 |
23/06/2011 |
155,280,000.00 |
BANK OF BAHRAIN AND KUWAIT B.S.C. |
6-3-550, L.B.BHAWAN,
AKASHGANGA, SOMAJIGUDA, HYDERABAD, ANDHRA PRADESH - 500082, INDIA |
B14980593 |
|
10 |
10213560 |
03/08/2013 * |
200,000,000.00 |
PUNJAB NATIONAL BANK |
4-1-427, AGM'S
OFFICE, BANK STREET, HYDERABAD, ANDHRA PRADESH - 500001, INDIA |
B83289488 |
* Date of charge modification
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2013 |
|
Outstanding bank
guarantees (excluding performance obligations) |
|
|
Bills Discounted |
886.330 |
|
Demad for direct taxes under appeal # |
10.100 |
|
Demad for indirect taxes under appeal # |
1.650 |
|
Preference Dividend |
0.010 |
|
Note: * Amount less than Indian Rupees 10,000 # Based on favourable decisions in similar cases, legal opinion taken by the Company, discussions with the solicitors, etc., the Company believes that there is a fair chance of decisions in its favour with respect to all the items listed above and hence no provision has been considered necessary in these respects. |
|
FIXED ASSETS
Tangible assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Computer equipments
Intangible assets
· Computer software
PRESS RELEASES
LAURUS LABS TO INVEST RS 2000.000 MILLIONS
JUNE 04, 2013
Two new manufacturing facilities would be set up near Visakhapatnam to take total capacity to 1.4 mn litres from the present 800,000 litre
City-based Laurus Labs, which specialises in manufacturing
active pharmaceutical ingredients (APIs) for AIDS and oncology drugs, is
planning to invest Rs 2000.000 Millions in the next 18 months for capacity
expansion.
Company's founder and chief executive officer Satyanarayana Chava on Tuesday
said two new manufacturing facilities would be set up in addition to the existing
one near Visakhapatnam to take the total capacity to 1.4 million litres from
the present 800,000 litre. The expansion would be funded through internal
resources.
It may be recalled Fidelity Growth Partners India had invested Rs 2000.000
Millions in Laurus last year by way of acquiring the stake of Uptuit Inc, a
US-based contract RandD services provider with which the company had a
partnership.
Set up in 2006, Laurus was into only R and D for the first couple of years. It
achieved revenues of Rs 7200.000 Millions last year, according to its founder.
The company makes 50 per cent supplies to large Indian companies, including
Ranbaxy and Dr Reddy's Laboratories, and the rest to companies in Europe, North
America and Africa. It also has plans to expand into making APIs for products
targeting diabetes.
The former chief operating officer of erstwhile Matrix Laboratories said even being an API player, the company enjoyed high margins on the back of in-house R and D and process technology. Of its 1,100 employees, 600 are deployed in R and D.
ISB, Laurus partner to start course on technology commercialization
The Indian School of Business (ISB) is launching an education programme on
technology commercialisation for scientists and RandD professionals starting next
month. The initiative is targeted at equipping them with knowledge on how to
put technology and innovation to commercial use through entrepreneurship
development and other modes.
The launch of the course also marks the single largest individual alumni grant
of Rs 3.000 Millions from Satyanarayana Chava, CEO of Laurus Labs, a city-based
API (active pharmaceutical ingredients) manufacturing and R and D company. It
would be used to partly fund up to 25 candidates in the fist batch.
ISB deputy dean Deepak Chandra said there was a knowledge gap among scientists
in taking technology to the market. The institute had been receiving response
from scientists and research professionals from various backgrounds, including
agriculture, IT and pharma sectors besides government establishments like the
Defence Research and Development Organisation.
The programme, a first-of its-kind, is divided into four phases starting with
providing academic inputs on business acumen followed by development of
business plan and metering. It is also open to providing incubation and funding
tie-ups to technology and intellectual property owned by these candidates,
according to him.
Chava said as a scientist-turned-entrepreneur heading a company with focus on
research and innovation it would be a rightful cause in helping others tread
the same path through this partnership.
ADVENT INTERNATIONAL IN TALKS TO BUY STAKE IN LAURUS LABS
JANUARY 01, 2014
US-based private equity (PE) major Advent International is in talks with Hyderabad-based Laurus Labs Private Limited (Laurus) to buy a stake in it.
The discussion is for raising funds to the tune of Rs 3000.000 Millions. The PE investor is likely to pick a 10-15 per cent stake in Laurus.
The proposed capital will be used for Laurus’ capacity expansion. Earlier, Chava Satyanarayana, founder and chief executive officer of Laurus, had said the company would set up two new manufacturing facilities to take the total capacity to 1.4 million litres from its current capacity of 800,000 litres.
In February 2012, Fidelity Growth Partners India had invested Rs 2000.000 Millions in Laurus, acquiring a minority stake in it. Along with Fidelity, Chava Satyanarayana had also participated in the first round of financing.
A mail sent to Ravi Kumar, executive director (finance), Laurus Labs, did not elicit any response, while Shweta Jalan, managing director, Advent India PE Advisors, did not respond to email queries.
Laurus was set up by Satyanarayana, former chief operating officer of Matrix Laboratories, in 2005. The Rs 8000.000 Millions company is a leading manufacturer of active pharmaceutical ingredients (APIs) for anti-retroviral (HIV-AIDS), oncology and nutraceuticals, and a supplier of leading generic pharmaceutical companies in India and abroad. In addition to the API business, the company has a contract research and manufacturing business offering services to a few global pharmaceutical companies.
Laurus has a state-of-the-art research and development and scale-up laboratory in Hyderabad and large-scale manufacturing facilities at Visakhapatnam. These export-oriented units have been accredited by international regulatory agencies including the US FDA, UK MHRA, Australian TGA and Korean FDA.
Advent International has exposure to the Indian health care sector through its $110-million (Rs 5600.000 Millions) investment in the Hyderabad-based hospital chain Care Hospitals in April 2012.
The pharmaceutical industry in India is set to witness more deals in 2014 after seeing some of the largest deals in December 2013. According to data from VCCEdge, the pharmaceutical industry has seen eight PE/ VC deals worth $387 million in 2013, against 11 deals worth $151 million in the previous year, a growth of 156 per cent.
ISB-LAURUS LABS INK PACT TO BACK TECHNOLOGY COMMERCIALISATION FOR
SCIENTISTS
JUNE 04, 2013
Pharma firm Laurus Labs on Tuesday signed a Memorandum of Understanding with the Indian School of Business (ISB), making a one-time contribution of Rs. 30 lakh to support a ‘Technology Commercialisation’ programme for scientists across agriculture, pharma, IT, BT and manufacturing sectors.
At a press conference, Deputy Dean of ISB, Deepak Chandra announced the contribution from CEO of Laurus Labs, Satyanarayana Chava, an alumnus of its Post-Graduate Programme for Senior Executives (PGPMAX). This was the largest individual alumni grant from an alumnus, he said.
The first module of the four-module programme of four days each will begin on July 29.
Mr. Deepak Chandra said the ISB facilitated focussed work on entrepreneurship and innovation through the Wadhwani Centre for Entrepreneurship Development and the Biocon Cell for Innovation Management. Scientists working on innovative technologies now had a new opportunity to go back to the classroom.
“Today, scientists in laboratories are coming out with innovative technologies. But there is a gap between the technologies and its commercialisation that our new programmes seek to bridge,” he added.
Mr. Satyanarayana Chava said Laurus Labs, that registered a turnover of Rs. 7200.000 Millions in the last fiscal, spent about six per cent of revenues on research and development. It was focussed on active pharmaceutical ingredients on anti-retroviral drugs for HIV and on oncology, he said.
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.62.18 |
|
|
1 |
Rs.103.38 |
|
Euro |
1 |
Rs.85.09 |
INFORMATION DETAILS
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--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 |
NO |
|
--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 |
|
51 |
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.