MIRA
INFORM REPORT
|
Report Date : |
23.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
SERUM INSTITUTE OF INDIA LIMITED |
|
|
|
|
Registered
Office : |
212/2, Off |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
22.05.1984 |
|
|
|
|
Com. Reg. No.: |
11-032945 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.48.192 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U80903PN1984PLC032945 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNES15736A PNES00023C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS4225M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer
and Exporter of Vaccines and Immuno. |
|
|
|
|
No. of Employees
: |
3000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
AA (77) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 166990000 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
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Litigation : |
Exist |
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|
|
|
Comments : |
Subject is an established and reputed company having excellent track
record. Financial position of the company is sound. Fundamentals are strong and
healthy. Directors are reported to be experienced and respectable
businessman. Trade relations are reported as trustworthy. Business is active.
Payment terms are reported to be regular and as per commitment. The company can be considered excellent 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 – 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 |
CARE |
|
Rating |
Long term bank facilities AAA |
|
Rating Explanation |
Highest degree of safety and carry lowest
credit risk. |
|
Date |
February 21, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term, bank facilities A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
February 21, 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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Prakesh Kothawade |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-20-26993900 |
|
Date : |
21.07.2014 |
LOCATIONS
|
Registered Office / Human Resources / International Marketing Division
: |
212/2, Off Soli Poonawalla Road, Hadapsar, Pune – 411028, Maharashtra,
India |
|
Tel. No.: |
91-20-26993900/ 26993904 |
|
Fax No.: |
91-20-26993921/ 26133228 |
|
E-Mail : |
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|
Website : |
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|
Domestic Marketing Division : |
501, Dalamal Tower, 211, Nariman Point, Mumbai – 400021, Maharashtra,
India |
|
Tel. No.: |
91-22-22840370 |
|
Fax No.: |
91-22-22044389 |
|
E-Mail : |
|
|
|
|
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Finance Division: |
Sarosh Bhavan, 16-B/1, Dr. Ambedkar Road, Pune – 411001, Maharashtra,
India |
|
Tel. No.: |
91-20-26137221 |
|
Fax No.: |
91-20-26133228 |
|
E-Mail : |
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Administrative Office : |
Mittal Court, 3rd Floor, A Wing, Dr. Ambedkar Road, Pune – 411001, Maharashtra, India |
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|
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|
Branch Office : |
Located at: · Chennai · Kolkata ·
·
·
Vishakapatnam ·
Trivandrum |
DIRECTORS
As on 02.09.2013
|
Name : |
Mr. Adar Cyrus Poonawalla |
|
Designation : |
Whole Time Director |
|
Address : |
11, Poonawalla Park, Pune – 411037, Maharashtra, India |
|
Date of Birth/Age : |
14.01.1981 |
|
Qualification : |
B.B.A.(Finance) UK |
|
Date of Appointment : |
01.04.2011 |
|
PAN No.: |
AFEPP9955N |
|
DIN No.: |
00044815 |
|
|
|
|
Name : |
Mr. Behroze Zavareh Poonawalla |
|
Designation : |
Director |
|
Address : |
12, Poonawalla Park, Pune – 411037, Maharashtra, India |
|
Date of Birth/Age : |
08.12.1946 |
|
Qualification : |
B.A. |
|
Date of Appointment : |
01.02.1986 |
|
DIN No.: |
00044877 |
|
|
|
|
Name : |
Dr. Cyrus Soli Poonawalla |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
11, Poonawalla Park, Pune – 411 037, Maharashtra, India |
|
Date of Birth/Age : |
11.05.1941 |
|
Date of Appointment : |
30.01.2009 |
|
PAN No.: |
AAXPP9204A |
|
DIN No.: |
00044650 |
|
|
|
|
Name : |
Dr. (Mrs.) Mrudula Arvind Phadke |
|
Designation : |
Director |
|
Address : |
181, Buena Vista Society, Jagannath Bhosale Marg, Near Mantralaya, Mumbai – 400021, Maharashtra, India |
|
Date of Birth/Age : |
22.12.1944 |
|
Qualification : |
M.D., D.C.H. |
|
Date of Appointment : |
25.08.2008 |
|
DIN No: |
01959083 |
|
|
|
|
Name : |
Dr. Rajeev Mhalasakant Dhere |
|
Designation : |
Whole Time Director |
|
Address : |
Flat No. 3, Mahalaxmi Niwas, 146, Shaniwar Peth, Pune – 411030, Maharashtra, India |
|
Date of Birth/Age : |
11.11.1954 |
|
Date of Appointment : |
07.08.2012 |
|
DIN No: |
05174953 |
|
|
|
|
Name : |
Dr. Satish Damodar Ravetkar |
|
Designation : |
Whole Time Director |
|
Address : |
4, Sadashanti Apartments, Prabhat Road, Lane No 9a, Pune - 411004, Maharashtra, India |
|
Date of Birth/Age : |
14.07.1951 |
|
Date of Appointment : |
07.08.2012 |
|
DIN No: |
05175036 |
|
|
|
|
Name : |
Mr. Satish Ramchandra Mundra |
|
Designation : |
Whole Time Director |
|
Address : |
401, Clover Court, Opposite Guruprasad Society, Pune – 411001, Maharashtra, India |
|
Date of Birth/Age : |
04.06.1943 |
|
Qualification : |
M.Com. |
|
Date of Appointment : |
01.04.2010 |
|
PAN No.: |
ABFPM7101E |
|
DIN No.: |
00416654 |
|
|
|
|
Name : |
Dr. Suresh Sahkaram Jadhav |
|
Designation : |
Whole Time Director |
|
Address : |
16, Sadhana Society, Near Akashwani, Pune – 411028, Maharashtra, India |
|
Date of Birth/Age : |
24.01.1950 |
|
Qualification : |
M. Pharm, Ph D |
|
Date of Appointment : |
01.04.2010 |
|
PAN No.: |
ABAPJ9475D |
|
DIN No.: |
00056701 |
|
|
|
|
Name : |
Mr. Zavareh Soli Poonawalla |
|
Designation : |
Director |
|
Address : |
12, Poonawalla Park, Pune – 411 037, Maharashtra, India |
|
Date of Birth/Age : |
04.12.1943 |
|
Date of Appointment: |
01.07.2007 |
|
PAN No.: |
AAJPP5268N |
|
DIN No.: |
00044760 |
KEY EXECUTIVES
|
Name : |
Mr. Makarand Shrikrishna Karkare |
|
Designation : |
Company Secretary |
|
Address : |
A 507, Shilpa Housing Society, 124/ 15A/ 2, Off |
|
Date of Birth/Age : |
30.05.1963 |
|
Date of Appointment : |
08.06.2006 |
|
PAN No.: |
ACDPK4983F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 02.09.2013
|
Names of Shareholders |
No. of Shares |
|
Poonawalla Investments and Industries Private Limited, |
3244617 |
|
Adar Cyrus Poonwawalla |
249808 |
|
Cyrus Soli Poonwalla |
493578 |
|
Corpint Investments Private Limited, |
40 |
|
Fortune Intercontinental Private Limited, |
40 |
|
Zavareh Soli Poonawalla |
240963 |
|
Adar Cyrus Poonwawalla |
557600 |
|
Chanda Investments and Trading Company Private Limited, |
40 |
|
Adurjee and Bros Private Limited, India |
32567 |
|
Total |
4819253 |
As on 02.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
68.00 |
|
Directors or relatives of Directors |
32.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
and Exporter of Vaccines and Immuno. |
||||||
|
|
|
||||||
|
Products : |
· Bacterial Vaccines · Viral Vaccines · Antisera · Anticancer Products · Plasma Products · Vaccines · Hepatoprotective · Hormones · Plasma Substitute · Fertility · Bacterial Vaccines · Antisera ·
Anticancer |
||||||
|
|
|
||||||
|
Exports : |
|
||||||
|
Products : |
Finished
Goods |
||||||
|
Countries : |
·
Europe ·
Asian Country ·
Middle East ·
Gulf Country ·
USA ·
UK ·
Italy ·
Japan ·
Switzerland |
||||||
|
|
|
||||||
|
Imports : |
|
||||||
|
Products : |
Raw Material |
||||||
|
Countries : |
·
Europe ·
USA |
||||||
|
|
|
||||||
|
Terms : |
|
||||||
|
Selling : |
Cash and Credit |
||||||
|
|
|
||||||
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS
ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Preventive |
Million Doses |
N.A. |
** |
730.06 |
|
Curative |
Million Doses |
N.A. |
** |
4.70 |
** Installed
capacities has not been disclosed as these are variable and subject to changes in
product mix, and utilization of manufacturing facilities, given the nature of
operations.
GENERAL INFORMATION
|
Customers : |
End Users |
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
3000 (Approximately) |
|||||||||||||||
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|
|
|||||||||||||||
|
Bankers : |
¨ Citi Bank N.A., Citi Bank Center, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051, Maharashtra, India ¨ Axis Bank,
Deccan Branch, Pune, Maharashtra, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Patki and Soman Chartered Accountants |
|
Address : |
101/102, Parmesh Plaza, Pune - 411030, Maharashtra, India |
|
PAN
No. : |
AACFP3742Q |
|
|
|
|
Holding Company : |
¨ Poonawalla Investments And Industries PrivateLimited |
|
|
|
|
Others : |
¨ Poonawalla Estates Stud And Agri Farm Privae Limited |
|
|
|
|
Subsidiary Company
: |
¨ Poonawalla Aviation Private Limited ¨ SEZ Biotech Services Private Limited ¨ Serum International B.V. ¨ Bilthoven Biologicals B.V. |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
54750000 |
Equity Shares |
Rs.10/- each |
Rs.547.500 Millions |
|
250000 |
Preference Shares |
Rs.10/- each |
Rs.2.500 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.550.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4819253 |
Equity Shares |
Rs.10/- each |
Rs.48.192 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 |
|
48.192 |
48.192 |
|
(b) Reserves & Surplus |
|
41700.360 |
27532.242 |
|
(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) |
|
41748.552 |
27580.434 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1248.139 |
1985.789 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
138.538 |
129.752 |
|
(d) long-term provisions |
|
315.682 |
353.087 |
|
Total Non-current Liabilities (3) |
|
1702.359 |
2468.628 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
4526.074 |
4207.055 |
|
(b) Trade payables |
|
674.700 |
420.094 |
|
(c) Other current
liabilities |
|
842.913 |
909.875 |
|
(d) Short-term provisions |
|
7921.305 |
6166.983 |
|
Total Current Liabilities (4) |
|
13964.992 |
11704.007 |
|
|
|
|
|
|
TOTAL |
|
57415.903 |
41753.069 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
9108.120 |
8335.940 |
|
(ii) Intangible Assets |
|
57.580 |
91.832 |
|
(iii) Capital
work-in-progress |
|
2068.269 |
990.616 |
|
(iv)
Intangible assets under development |
|
1414.810 |
915.414 |
|
(b) Non-current Investments |
|
20254.847 |
17155.359 |
|
(c) Deferred tax assets (net) |
|
2877.607 |
1325.873 |
|
(d) Long-term Loan and Advances |
|
156.631 |
96.634 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
35937.864 |
28911.668 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
5939.077 |
4120.390 |
|
(c) Trade receivables |
|
3797.988 |
2867.975 |
|
(d) Cash and cash
equivalents |
|
569.484 |
480.800 |
|
(e) Short-term loans and
advances |
|
10682.759 |
5101.191 |
|
(f) Other current assets |
|
488.731 |
271.045 |
|
Total Current Assets |
|
21478.039 |
12841.401 |
|
|
|
|
|
|
TOTAL |
|
57415.903 |
41753.069 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
48.192 |
|
|
2] Equity Share Suspense |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
20514.263 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
20562.455 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
2366.248 |
|
|
2] Unsecured Loans |
|
|
2343.581 |
|
|
TOTAL BORROWING |
|
|
4709.829 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
25272.284 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
8779.733 |
|
|
Capital work-in-progress |
|
|
1535.208 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
8476.930 |
|
|
DEFERREX TAX ASSETS |
|
|
363.670 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
3329.672 |
|
|
Sundry Debtors |
|
|
1664.929 |
|
|
Cash & Bank Balances |
|
|
508.589 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
2242.265 |
|
Total
Current Assets |
|
|
7745.455 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
533.533 |
|
|
Other Current Liabilities |
|
|
724.804 |
|
|
Provisions |
|
|
370.375 |
|
Total
Current Liabilities |
|
|
1628.712 |
|
|
Net Current Assets |
|
|
6116.743 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
25272.284 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
25241.414 |
17148.277 |
9071.288 |
|
|
|
Other Income |
636.933 |
525.674 |
1346.600 |
|
|
|
TOTAL |
25878.347 |
17673.951 |
10417.888 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
3189.676 |
2081.692 |
1665.481 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(1102.100) |
(452.479) |
(621.496) |
|
|
|
Employees benefits expense |
3254.858 |
2622.939 |
1657.317 |
|
|
|
Other expenses |
4947.481 |
2879.983 |
2518.124 |
|
|
|
TOTAL |
10289.915 |
7132.135 |
5219.426 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
15588.432 |
10541.816 |
5198.462 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
330.937 |
242.699 |
101.686 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
15257.495 |
10299.117 |
5096.776 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1196.983 |
1089.406 |
673.072 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
14060.512 |
9209.711 |
4423.704 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1233.267 |
928.898 |
(2.115) |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
12827.245 |
8280.813 |
4425.819 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
2662.00 |
1718.00 |
932.00 |
|
|
Particulars |
|
|
31.03.2014 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
34000.000 |
|
|
|
|
|
The above information has been parted by Mr. Prakesh Kothawade
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
49.57 |
46.85 |
42.48 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
55.70 |
53.71 |
48.77 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
45.65 |
43.10 |
36.53 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34 |
0.33 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.14 |
0.22 |
0.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.54 |
1.10 |
4.75 |
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 |
48.192 |
48.192 |
|
Reserves & Surplus |
27532.242 |
41700.360 |
|
Net worth |
27580.434 |
41748.552 |
|
|
|
|
|
long-term borrowings |
1985.789 |
1248.139 |
|
Short term borrowings |
4207.055 |
4526.074 |
|
Total
borrowings |
6192.844 |
5774.213 |
|
Debt/Equity
ratio |
0.225 |
0.138 |
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) |
|
Sales |
9071.288 |
17148.277 |
25241.414 |
|
|
|
89.039 |
47.195 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
9071.288 |
17148.277 |
25241.414 |
|
Profit |
4425.819 |
8280.813 |
12827.245 |
|
|
48.79% |
48.29% |
50.82% |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION
BUSINESS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Presentation
Date:- 16.06.2014 |
|
Lodging No.:- ITXAL/1166/2014 Filing Date:- 16.06.2014 |
|
Petitioner: THE COMMISSIONER OF INCOME TAX-TDS Respondent: SERUM INSTITUTE
OF INDIA LIMITED Petn. Adv : VIPUL ARUN BAJPAYEE (I4135) District: PUNE |
|
Bench: DIVISION Status: Pre-Admission
Category: TAX APPEAL Last Date: 23.06.2014
Stage: Last Coram: REGISTRAR(OS)/PROTHONOTARY
AND SR. MASTER |
|
Act: Income Tax Act, 1961 UNDER SECTION: 260A |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Rupee term loan from others |
298.702 |
265.233 |
|
Rupee term loan from bank |
4021.291 |
3762.997 |
|
Deposits from directors |
206.081 |
178.825 |
|
|
|
|
|
Total |
4526.074 |
4207.055 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10140096 |
31/12/2008 |
2,442,530,000.00 |
CITIBANK N. A. |
CITIBANK CENTER, BANDRA KURLA COMPLEX, BANDRA EAST, PUNE, Maharashtra
- 400051, INDIA |
A54694658 |
OTHER ACHIEVEMENTS
RANKING AS NO 1
BIOTECH COMPANY IN INDIA
The Company
continues to retain the trend of being ranked as No. 1 Biotech Company for
2012-13, in India.
PRODUCT OF THE
YEAR AWARD
The MenAfriVac
Vaccine manufactured by the Company was awarded with the Bio Spectrum Asia
Pacific Product of the Year 2013 Award. This vaccine has enabled the UNICEF to
address the meningitis epidemic in sub-Saharan Africa.
BIO EXCELLENCE
AWARD
The Company has been
awarded the Bio-Excellence Award under the category - Bio Pharma and
Healthcare, during the Bangalore India Bio 2013, India’s leading Biotech Event,
organised by the Department of Information Technology, Biotechnology and
Science and Technology Government of Karnataka.
The Company highly
appreciates the national and international recognitions and honours bestowed
upon it and places its gratitude’s to all the institutions and health
organisations.
FIXED ASSETS
œ Land
œ Buildings
œ Plant and Equipment
œ Furniture and Fixtures
œ Vehicles
œ Aircrafts Helicopters
œ Office Equipment
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.60.24 |
|
|
1 |
Rs.102.86 |
|
Euro |
1 |
Rs.81.44 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
10 |
|
--CREDIT LINES |
1~10 |
9 |
|
--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 |
NO |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
77 |
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.