1. Summary Information
|
|
|
Country |
|
|
Company Name |
MACLEODS PHARMACEUTICALS LIMITED |
Principal Name 1 |
Mr. Rajendra Murlidhar Agarwal |
|
Status |
Good |
Principal Name 2 |
Mr. Banwarilal Murildhar Bawri |
|
|
|
Registration # |
11-52049 |
|
Street Address |
304, 3rd
Floor, Atlanta Arcade, Marol Church Road, Andheri (East), Mumbai -400 059,
Maharashtra, India |
||
|
Established Date |
05.06.1989 |
SIC Code |
-- |
|
Telephone# |
91-22-66762800/ 56762800 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-22-28266229/ 29256599 |
Business Style 2 |
Exporter |
|
Homepage |
Product Name 1 |
Drugs |
|
|
# of employees |
Not Available |
Product Name 2 |
Pharmaceuticals |
|
Paid up capital |
Rs.199,606,800/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of directors- 100% |
Banking |
State Bank of India |
|
Public Limited Corp. |
No |
Business Period |
25 Years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
A
(64) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiary
|
-- |
East and West Clothing Private Limited |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
9,780,016,000 |
Current Liabilities |
2,828,082,000 |
|
Inventories |
3,490,927,000 |
Long-term Liabilities |
1,521,879,000 |
|
Fixed Assets |
3,187,326,000 |
Other Liabilities |
263,285,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
4,613,246,000 |
|
Invest& other Assets |
636,261,000 |
Retained Earnings |
12,281,677,000 |
|
|
|
Net Worth |
12,481,284,000 |
|
Total Assets |
17,094,530,000 |
Total Liab. & Equity |
17,094,530,000 |
|
Total Assets (Previous Year) |
12,850,729,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Total Income |
24,259,900,000 |
Net Profit |
3,707,502,000 |
|
Total Income (Previous yr) |
18,492,646,000 |
Net Profit(Prev.yr) |
2,720,100,000 |
MIRA
INFORM REPORT
|
Report Date : |
10.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
MACLEODS PHARMACEUTICALS LIMITED |
|
|
|
|
Formerly Known
As : |
MACLEODS PHARMACEUTICALS PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
304, Atlanta
Arcade, Marol Church Road, Andheri (East), Mumbai – 400 059, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
05.06.1989 |
|
|
|
|
Com. Reg. No.: |
11-052049 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.199.607 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24239MH1989PLC052049 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM19656A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM4100C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is engaged in the business of pharmaceutical
and related activities, including research. |
|
|
|
|
No. of Employees
: |
5000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 49000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an
established company having a good track record. Financial
position of the company is sound. Fundamentals are strong. Trade relations are
reported as fair. Business is active. Payment terms are reported to be
regular and as per commitments. The company can
be considered good for normal 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
N E W S
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a
quarter of a century. The data was below an official estimate of 4.9 % annual
growth and compared with 4.5 % in the last fiscal year. However, the current
account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic
product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year
before.A sharp fall in gold imports due to restrictions on overseas purchases
and muted import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from
Russian Investment firm DST Global which has also invested in companies like
Facebook, Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US
governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = AA |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
30.04.2014 |
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 DECLINED BY
|
Name : |
Mr. Suresh |
|
Designation : |
Account Manager |
|
Contact No.: |
91-22-66762800 |
|
Date : |
08.07.2014 |
LOCATIONS
|
Registered Office : |
304, Atlanta
Arcade, Marol Church Road, Andheri (East), Mumbai – 400 059, Maharashtra,
India |
|
Tel. No.: |
91-22-66762800/ 56762800 |
|
Fax No.: |
91-22-28266229/ 29256599 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Plot No. 1 and 2,
Mahim Road, Near Kuldeep Hotel, Palghar (West), District Thane – 401 404,
Maharashtra, India |
|
|
|
|
Factory 2 : |
Village: Theda, Kharuni- Lodimajra, Thehesil- Nalagarh, Baddi Industrial Estate Area, District: Solan, Himachal Pradesh, India |
|
|
|
|
Factory 3 / Daman- Premier- Unit II : |
Plot no. 25-27, Survey No. 366, Premier Industrial Estate, Kachigam, Daman – 396 320, Daman and Diu, India |
|
|
|
|
Factory 4 / Daman- Kabra- Unit III : |
Plot No. 367/ 7, Kabra Industrial Estate, Kachigam, Daman – 396 210, Daman and Diu, India |
|
|
|
|
Factory 5 : |
Plot No.2209, GIDC Sarigam, District: Valsad, Gujarat, India |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Banwarilal Murildhar Bawri |
|
Designation : |
Managing Director |
|
Address : |
5, Vinayak Heights, Upper Govind Nagar, Malad (East), Mumbai – 400 097, Maharashtra, India |
|
Date of Birth/Age : |
02.04.1953 |
|
Qualification : |
D. Pharm |
|
Date of Appointment : |
01.04.2010 |
|
DIN No.: |
00017795 |
|
|
|
|
Name : |
Mr. Rajendra Murlidhar Agarwal |
|
Designation : |
Managing Director |
|
Address : |
5, Vinayak Heights, Upper Govind Nagar, Malad (East), Mumbai – 400 097, Maharashtra, India |
|
Date of Birth/Age : |
25.02.1959 |
|
Qualification : |
M.B.B.S. |
|
Date of Appointment : |
01.04.2010 |
|
DIN No.: |
00034224 |
|
|
|
|
Name : |
Mr. Girdharilal Murlidhar Bawri |
|
Designation : |
Director |
|
Address : |
5, Vinayak Heights, Upper Govind Nagar, Malad (East), Mumbai – 400 097, Maharashtra, India |
|
Date of Birth/Age : |
03.08.1947 |
|
Qualification : |
B. Com / D. Pharma |
|
Date of Appointment : |
22.05.1990 |
|
DIN No.: |
00034197 |
|
|
|
|
Name : |
Mr. Vimal Manekchand Kothari |
|
Designation : |
Director |
|
Address : |
132, Avanti Apartment, Senapati Bapat Marg, Dadar (West), Mumbai-40028, Maharashtra, India |
|
Date of Birth/Age : |
28.06.1940 |
|
Qualification : |
M.Com / LLB / FICWA |
|
Date of Appointment : |
27.03.2006 |
|
DIN No.: |
00056003 |
|
|
|
|
Name : |
Mr. Navrang Ladhuram Tibrewal |
|
Designation : |
Director |
|
Address : |
Plot No. A, Schemeno 8, Gandhipath, Queens Road, Jaipur – 302 021, Rajashtra, India |
|
Date of Birth/Age : |
17.01.1937 |
|
Qualification : |
LLM |
|
Date of Appointment : |
27.03.2006 |
|
DIN No.: |
00030151 |
KEY EXECUTIVES
|
Name : |
Mrs. Suvarna Dadabhau Gholap |
|
Designation : |
Secretary |
|
Address : |
103-A, Building No.26, Tilak Nagar, Chembur, Mumbai – 400 089, Maharashtra,
India |
|
Date of Birth/Age : |
15.07.1982 |
|
Date of Appointment : |
01.03.2011 |
|
PAN No.: |
ANJPG7538B |
|
|
|
|
Name : |
Mr. Suresh |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Anju Agarwal |
|
3256200 |
|
Rajendra Murlidhar Agarwal |
|
3084360 |
|
Banwarilal Murildhar Bawri |
|
3022080 |
|
Prateek Agarwal |
|
2518400 |
|
Girdharilal Murlidhar Bawri |
|
2235360 |
|
Ajay Agarwal |
|
2172550 |
|
Vijay Agarwal |
|
2083610 |
|
Sudha Bawri |
|
884080 |
|
Anushree Agarwal |
|
229200 |
|
Ruchi Agarwal |
|
192840 |
|
Taradevi Bawri |
|
162000 |
|
Rajendra Murlidhar Agarwal HUF |
|
120000 |
|
Total |
|
19960680 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the business of pharmaceutical
and related activities, including research. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
Finished Goods |
||||
|
Countries : |
·
European Countries ·
Middle East |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Credit |
||||
|
|
|
||||
|
Purchasing : |
Credit / Depend |
GENERAL INFORMATION
|
Customers : |
Others |
||||||||||||
|
|
|
||||||||||||
|
No. of Employees : |
5000 (Approximately) |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
·
CITI Bank N.A., Commercial Banking Group,
Bandra Kurla Complex, Mumbai – 400 051, Maharashtra, India · State Bank of India, N.G.N. Vaidya Marg, Mumbai – 400 023, Maharashtra, India ·
ICICI Bank Limited, 1st Floor, Ganesh
Darshan Building, L.T. Road, Opposite Shri Sagar Hotel, Borivali West – 400
092, Maharashtra, India ·
Axis Bank, Dahisar (West), Mumbai, Maharashtra,
India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Bansal Bansal and Company Chartered Accountants |
|
Address : |
120 Building No.6, Mittal Industrial Estate, Mumbai – 400 059,
Maharashtra, India |
|
Tel. No.: |
91-22-28507815/66923607/28507816 |
|
Fax No.: |
91-22-28507816 |
|
E-Mail : |
|
|
PAN No.: |
AABFB5224E |
|
|
|
|
Subsidiary company: |
· Macleods Pharma Japan · East And West Clothing Private Limited CIN No.: U29140MH1975PTC018072 · Macleods Tashkent, Uzbek · Macleods Pharmaceuticals Limited, Ukraine · Macleods Pharmaceuticals Limited, Peru S.A.C. · Macleods Pharmaceuticals SA (PTY) Limited · Macleods Pharma USA, INC · Macleods Pharma UK Limited |
|
|
|
|
Other related
parties: |
· Oxalis Labs · Jindal Enterprises · Pharma Centre |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs. 10/- each |
Rs.250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19960680 |
Equity Shares |
Rs. 10/- each |
Rs.199.607 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 |
|
199.607 |
199.607 |
|
(b) Reserves & Surplus |
|
12281.677 |
8806.163 |
|
(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) |
|
12481.284 |
9005.770 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
19.507 |
19.507 |
|
(b) Deferred tax liabilities (Net) |
|
198.442 |
274.073 |
|
(c) Other long term liabilities |
|
100.058 |
79.450 |
|
(d) long-term provisions |
|
57.444 |
40.654 |
|
Total Non-current Liabilities (3) |
|
375.451 |
413.684 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
1502.372 |
1480.123 |
|
(b) Trade payables |
|
1448.935 |
1259.888 |
|
(c) Other current
liabilities |
|
1279.089 |
686.570 |
|
(d) Short-term provisions |
|
7.399 |
4.694 |
|
Total Current Liabilities (4) |
|
4237.795 |
3431.275 |
|
|
|
|
|
|
TOTAL |
|
17094.530 |
12850.729 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
3179.552 |
2666.021 |
|
(ii) Intangible Assets |
|
7.774 |
2.279 |
|
(iii) Capital
work-in-progress |
|
537.430 |
123.774 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
98.831 |
99.459 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
1154.621 |
1179.668 |
|
(e) Other Non-current assets |
|
269.068 |
67.479 |
|
Total Non-Current Assets |
|
5247.276 |
4138.680 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
3490.927 |
2450.497 |
|
(c) Trade receivables |
|
2851.136 |
2575.356 |
|
(d) Cash and cash
equivalents |
|
4419.823 |
3080.621 |
|
(e) Short-term loans and
advances |
|
818.555 |
375.772 |
|
(f) Other current assets |
|
266.813 |
229.803 |
|
Total Current Assets |
|
11847.254 |
8712.049 |
|
|
|
|
|
|
TOTAL |
|
17094.530 |
12850.729 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
199.607 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
6318.051 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
6517.658 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
740.564 |
|
|
2] Unsecured Loans |
|
|
88.348 |
|
|
TOTAL BORROWING |
|
|
828.912 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
7346.570 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
2422.750 |
|
|
Capital work-in-progress |
|
|
87.115 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
92.954 |
|
|
DEFERREX TAX ASSETS |
|
|
401.360 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
2705.776
|
|
|
Sundry Debtors |
|
|
1841.994
|
|
|
Cash & Bank Balances |
|
|
2133.725
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
1355.405
|
|
Total
Current Assets |
|
|
8036.900
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
2762.814
|
|
|
Other Current Liabilities |
|
|
43.979
|
|
|
Provisions |
|
|
887.716
|
|
Total
Current Liabilities |
|
|
3694.509
|
|
|
Net Current Assets |
|
|
4342.391
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
7346.570 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
|
24259.900 |
18253.630 |
13918.492 |
|
|
|
|
Other Income |
|
239.016 |
363.787 |
|
|
|
|
TOTAL (A) |
24259.900 |
18492.646 |
14282.279 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
|
19636.750 |
6049.579 |
6271.470 |
|
|
|
|
Manufacturing Expenses |
|
-- |
394.876 |
|
|
|
|
Purchase of stock-in-trade |
|
1857.542 |
0.000 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
|
98.450 |
0.000 |
|
|
|
|
Payments to and Provisions for Employees |
|
-- |
1838.852 |
|
|
|
|
Selling, Administration and Other Expenses |
|
-- |
2811.949 |
|
|
|
|
Research and Development Expenses |
|
-- |
452.966 |
|
|
|
|
Employee benefit Expenses |
|
2460.840 |
-- |
|
|
|
|
Other Expenses |
|
4860.368 |
-- |
|
|
|
|
Prior Period Items |
|
-- |
(6.722) |
|
|
|
|
TOTAL (B) |
19636.750 |
15326.779 |
11763.391 |
|
|
|
|
|
|
|
||
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(Including
Depreciation and Financial Expenses) |
3165.867 |
2518.888 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
|
72.873 |
20.436 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
|
3092.994 |
2498.452 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
|
227.393 |
193.584 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
4623.150 |
2865.601 |
2304.868 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
915.650 |
145.501 |
156.125 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
3707.502 |
2720.100 |
2148.743 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
8087.313 |
5874.201 |
4192.600 |
||
|
|
|
|
|
|
||
|
Less |
APPROPRIATIONS |
|
|
|
||
|
|
|
Transfer to General Reserve |
375.000 |
275.000 |
235.000 |
|
|
|
|
Dividend |
199.607 |
199.607 |
199.607 |
|
|
|
|
Tax on Dividend |
32.381 |
32.381 |
32.535 |
|
|
|
BALANCE CARRIED
TO THE B/S |
11187.827 |
8087.313 |
5874.201 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
FOB Value of Manufactured Goods Exported |
5553.250 |
3376.106 |
3204.059 |
|
|
|
|
income from Product Development |
76.310 |
0.000 |
0.000 |
|
|
|
TOTAL EARNINGS |
5629.560 |
3376.106 |
3204.059 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
NA |
1908.988 |
1581.995 |
|
|
|
|
Stores & Spares |
NA |
14.791 |
11.667 |
|
|
|
|
Capital Goods |
NA |
78.768 |
133.212 |
|
|
|
TOTAL IMPORTS |
NA |
2002.547 |
1726.874 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
185.74 |
136.27 |
107.65 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
15.28
|
14.71
|
15.04
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
15.70
|
16.56
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
28.09
|
22.69 |
22.04
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.37
|
0.32 |
0.35
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.12
|
0.17 |
0.13
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.80
|
2.54 |
2.18
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2012 |
31.03.2013 |
|
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
|
199.607 |
199.607 |
|
Reserves & Surplus |
|
8806.163 |
12281.677 |
|
Share Application money
pending allotment |
|
0.400 |
0.000 |
|
Net
worth |
|
9006.170 |
12481.284 |
|
|
|
|
|
|
long-term borrowings |
|
19.507 |
19.507 |
|
Short term borrowings |
|
1480.123 |
1502.372 |
|
Total
borrowings |
|
1499.630 |
1521.879 |
|
Debt/Equity
ratio |
|
0.167 |
0.122 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
14282.279 |
18492.646 |
24259.900 |
|
|
|
29.480 |
31.187 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
14282.279 |
18492.646 |
24259.900 |
|
Profit |
2148.743 |
2720.100 |
3707.502 |
|
|
15.04% |
14.71% |
15.28% |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
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 |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
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 |
No |
|
34] |
External Agency Rating, if available |
Yes |
LITIGATION
DETAILS:
|
Bench:- Bombay |
||||
|
Presentation Date:- 02.12.2013 |
||||
|
Stamp No:- |
WPST/33240/2013 |
Failing Date:- |
02.12.2013 |
|
|
|
||||
|
Petitioner:- |
COMMISSIONER OF CENTRAL EXCISE AN CI |
Respondent:- |
MACLEODS PHARMACEUTICALS LIMITED |
|
|
Petn.Adv:- |
A S RAO (I257) |
|||
|
District:- |
MUMBAI |
|||
|
|
||||
|
Bench:- |
DIVISION |
|||
|
Status:- |
Pre-Admission |
Stage:- |
|
|
|
Next Date:- |
09.12.2013 |
|
||
|
Coram:- |
Registrar (Judicial) |
|||
|
|
|
|||
|
Act:- |
Bombay University Act |
|||
UNSECURED LOAN:
(Rs.
In Millions)
|
Particulars |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
LONG TERM
BORROWINGS |
|
|
|
Deferred sales tax loan |
19.507 |
19.507 |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
6.209 |
5.463 |
|
Total |
25.716 |
24.970 |
OPERATING RESULTS:
The Sales and other income is Rs. 24259.900 million for the year under review, higher by 23.77% over Rs. 18492.646 million reported in the year 2011-12. The Net profit before tax amounted to Rs. 4623.150 million against Rs. 2865.601 million during last year and the profit after tax is Rs. 3707.502 million which was Rs. 2720.100 million during the last year.
GENERAL INFORMATION:
Macleods Pharmaceuticals Limited ('the Company') is a closely held Public Company domiciled in India & incorporated under the provisions of the Companies Act, 1956. The Company is engaged in the business of pharmaceutical and related activities, including research
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10449202 |
19/09/2013 |
15,460,000.00 |
ICICI BANK LTD. |
1st Floor, GANESH DARSHAN BLDG., L. T. ROAD, OPP. SHRI SAGAR HOTEL, BORIVALI WEST, Maharashtra - 400092, INDIA |
B85072510 |
|
2 |
10449114 |
19/09/2013 |
17,850,000.00 |
ICICI BANK LTD. |
1st Floor, GANESH DARSHAN BLDG., L. T. ROAD, OPP. SHRI SAGAR HOTEL, BORIVALI WEST, Maharashtra - 400092, INDIA |
B85015006 |
|
3 |
10449057 |
19/09/2013 |
22,160,000.00 |
ICICI BANK LTD. |
1st Floor, GANESH DARSHAN BLDG., L. T. ROAD, OPP. SHRI SAGAR HOTEL, BORIVALI WEST, Maharashtra - 400092, INDIA |
B84988856 |
|
4 |
10449059 |
19/09/2013 |
22,160,000.00 |
ICICI BANK LTD. |
1st Floor, GANESH DARSHAN BLDG., L. T. ROAD, OPP. SHRI SAGAR HOTEL, BORIVALI WEST, Maharashtra - 400092, INDIA |
B84990639 |
|
5 |
90224199 |
18/12/2000 * |
2,950,000.00 |
STATE BANK OF INDIA |
MALAD BRANCH, MUMBAI, Maharashtra, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
· Land
·
· Plant and Machinery
· Vehicles
· Training
· Office Equipment
· Factory Equipments
·
Computers
AS PER WEBSITE DETAILS:
PRESS RELEASES:
ZUVENTUS HEALTHCARE, WANBURY, MACLEODS PHARMA IN RACE FOR THE EMERGING
HEALTHCARE COMPANY AT ILC 2013
India Leadership Conclave brings tough competition as Indian Pharma Majors
Wanbury, Macleods, Bluecross, Wallace and Zuventus Healthcare eye to win the coveted
India’s Emerging Healthcare Company of the Year 2013 Title
Mumbai, Maharashtra, India, Friday, 7th June 2013 : In the run up to the 4th
Annual India Leadership Conclave and Indian Affairs Business Leadership Awards
2013 organized by Indian Affairs in association with the Ministry of Corporate
Affairs, Government of India and several trade bodies, to be held in Mumbai at
Hotel The Leela, Grand Ball Room, on Friday,21st June 2013 in India, the
prestigious nomination for the prestigious “India’s Emerging Healthcare Company
of the Year 2013 Award title”has picked up the speed as the Nation votes to
select the Winner out od top five finalists screened. The five pharma majors
who are in the race are all Mumbai based companies such as Wanbury Ltd, Macleods
Pharmaceuticals Limited, Blue Cross Laboratories Ltd, Wallace Pharmaceuticals
Ltd, Zuventus Healthcare Limited.
Given to vote by the Juries to taste the mood of the nation since last 45 days, the much awaited Leadership Conclave titled The New India – Agenda For Change, Indian masses have been voting to chose the Companies and Individuals who has been remarkably successfully in the various categories such as telecommunication, IT, Education and Training, Pharmaceutical, Healthcare, Food and Beverages, Automobile, Power (Incl Renewable),Chemical and Fertilizer, FMCG and Consumer Appliances, Hotel, Hospitality, Travel and Tourism, Financial Sector – Banking/Non Banking finance companies/asset Management companies, BPOs (Business Process Outsourcings) etc. “India’s Emerging Healthcare Company of the Year 2013 Award Nomination is being widely discussed as Indian Healthcare Industry is in news following two major developments first on the Novartis Patent Ruling and Ranbaxy’s alleged violation of safety norms in medicines.
India is now among the top five pharmaceutical emerging markets. The Indian pharma industry has been growing at a compounded annual growth rate (CAGR) of more than 15 per cent over the last five years and has significant growth opportunities. The domestic pharmaceutical market is expected to register a strong double-digit growth of 13-14 per cent in 2013 on back of increasing sales of generic medicines, continued growth in chronic therapies and a greater penetration in rural markets. The cumulative drugs and pharmaceuticals sector has attracted foreign direct investments (FDI) worth US$ 10,308.75 million during April 2000 to February 2013, according to the latest data published by Department of Industrial Policy and Promotion (DIPP). Under these contexts, all five pharmaceutical companies such as Wanbury Limited, Macleods Pharmaceuticals Limited, Blue Cross Laboratories Limited, Wallace Pharmaceuticals Limited, Zuventus Healthcare Limited. Have peformed well in the market and since the real winner is the one who beats all odds and perform exceptional growth will be crowned the glory said, Award Nomination Committee Chairman Satya Brahma.
Mumbai baseds Drug maker Wanbury, has reported a standalone sales turnover of Rs 1053.500 Millions and a net loss of Rs 82.000 Millions for the quarter ended Dec '12. Other income for the quarter was Rs 0.300 Millions. For the quarter ended Dec 2011 the standalone sales turnover was Rs 761.000 Millions and net loss was Rs 134.100 Millions. Recently CCI is probing Macleods pharma among five entities for 'engaging in anti-competition practices' in granting stockist licence for medicines in Himachal Pradesh. Macleods has its presence in over 30 countries with more than 300 registrations. The export range of Macleods are manufactured in a unit that has QSM approval from WHO-Geneva, and certifications from various International Regulatory Authorities like - USFDA, MCC, UKMHRA, MOH Belarus, INVIMA Colombia, National Drugs Authority - Uganda, Food and Drugs Board - Ghana, MCAZ Zimbabwe, Pharmacy and Poisons Board Kenya, Pharmacy Board Tanzania etc. Owing to a high degree of technological advancements, Macleods offers quality health care worldwide. It has strong presence in essential therapies like TB, malaria and HIV. Wanbury Limited is the fastest growing pharma company with a Compounded Annual Growth Rate(CAGR) of 68% over the last 6 years.The company has strong presence in domestic formulations, Active Pharmaceutical Ingredient(API) and Contract Research and manufacturing Services(CRAMS).The company also has its presence in Europe in formulations and the company has opened its office in Zurich, Switzerland for its CRAMS business and incorporated Wanbury Global FZE in Middle East for carrying out its trading activities in the year 2008. Indchemie health specialities pvt. Limited has been in the ethical pharma business for more than two decades now, with leadership in few of the segments. It has a strong back up of in-house manufacturing facility and has four pharmaceuticals manufacturing units and the beta-lactam unit is having several commendable approvals from african regulatory agencies like ethiopia, kenya and Malawi. Its business focus is backed with the building up of captive manufacturing operations and of complying with the regulatory standards of the advanced markets.
Blue Cross Laboratories Limited is a leading Indian pharmaceutical company. This research based organization boasts of more than two decades of sterling performance in the arena of healthcare products. The company serves a global client base. The company operations run on SAP. The Corporate office is connected with the production factories through RF MPLS. The company has an annual sales turnover of around Rs.2500.000 Millions. The company employee base comprises over 1000 people. The Wallace Group is a privately owned Pharmaceutical and Biotechnology Group headquartered in Goa, India. Incorporated in the late 1960s as a joint venture with Carter Wallace Inc. and Menezes family, the Wallace Group is primarily engaged in the manufacture and marketing of formulation products in India as well as abroad. The Group comprises Wallace Pharmaceuticals, Indipharma and Goodwin Biotechnology Inc. The Wallace Group employs over 2300 personnel with offices and facilities in several key locations in India and around the world. The Wallace Group comprises of Wallace Pharmaceuticals, Wallace Laboratories, Indi Pharma, Good Win Bio Tech and Trusts. Prakash Guha led Zuventus Healthcare Limited is one of the fastest growing pharmaceutical company with an enviable position in the Indian Healthcare Space with the turnover of more than 6500.000 Millions. Zuventus Healthcare is a Joint Venture Company with Emcure, a leading pharma giant and employs more than 2500 people and has a huge presence of its products in pan India network.
The Grand Final of the Winner for the the Emerging Healthcare Company of the year Award will be announced on Friday,21st June 2013 at the Grand Ball Room of the Hotel Leela in Mumbai, India
INDIA'S MACLEODS PHARMA TO INVEST $25 MILLION IN PRODUCTION IN RUSSIA;
FERRING TO START MANUFACTURING
14-12-2012
Indian drugmaker Mаcleods Pharmaceuticals plans to invest up to 700 million roubles (around $25 million) in the construction of a plant for the production of antituberculous drugs in Russia’s Belgorod region by 2016.
The project is expected to be implemented by the local Advanced Trading company, an official supplier of Mаcleods drugs in the Russian market, which currently accounts for 25% of the Russian market of antituberculous drugs.
According to Sergey Mironov, head of Advanced Trading, the new plant will focus on the production of life-saving medicines, which are expected to be in high demand in the Russian market. At the initial stage the new plant will focus on the production of anti-tuberculosis medicines, while later the production range is expected to be expanded.
The majority funds for the project is expected to be allocated from Mаcleods own funds and its Russian partner. The new facility is scheduled for the commission by the first quarter of 2016 and will reach its design capacity at that period of time. The new plant will create more than 160 new jobs at the initial stage. The governor of the Belgorod area Evgenie Savchenko has already promised the provision of all the needed support for the project.
Ferring Pharma to
launch production of innovative anticancer drugs in Kazan
Switzerland-based Ferring Pharmaceuticals is considering establishing production of innovative anticancer drugs in Russia’s Kazan (Tatarstan Republic). The new facility is expected to be established on the territory of Khimgrad and will be managed by Russia-based Izvarino Pharma AB, which is a subsidiary of Ferring Pharmaceuticals.
According to Orest Ibragimov, general director of Izvarino Pharma, in addition to production of anticancer drugs, the new plant will focus on the development of nanoscale systems of drugs delivery, as well as the development of a hormonal drug for the treatment of hysteropathy.
Total volume of investments in the project is not disclosed, however, according to some sources close to the project, they are estimated at 1.2 billion roubles ($36 million). According to Mr Ibragimov, the launch of production at the new facility is scheduled for 2016-2017, while payback period of the project is put at five years.
Mr Ibragimov has also not ruled out the possbility that some of the company’s products may be sold to one of the world’s biggest pharmaceutical producer, which specialize in the production of drugs for treatment of infertility and is interested in new developments in this field.
Macleods Pharma, tuberculosis drugs, Production, Ferring Pharma, Novel cancer drugs, Russia, Izvarino Pharma, Infertility
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.59.73 |
|
|
1 |
Rs.102.36 |
|
Euro |
1 |
Rs.81.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
64 |
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.