MIRA INFORM REPORT

 

IDENTIFICATION DETAILS

 

Name :

BIDDLE SAWYER LIMITED

 

 

Country :

India

 

 

Financials (as on) :

31.12.2013

 

 

PAN No.:

[Permanent Account No.]

AAACB2028C

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

No. of Employees :

Information declined by the management.

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Pharmaceuticals.

 

 

Products :

Product Description

SERRATIOPEPTIDASE

Item Code No.

3507.90

Product Description

ALFACALCIDOL

Item Code No.

3333.90

Product Description

METHOTREXATE

Item Code No.

2922.42

 

OPERATIONS

 

The Net Sales for the year ended 31st December 2013 were Rs. 181.600 millions as compared to Rs. 214.800 millions for the previous year. Sales were impacted by a segment of the trade not buying the Company’s products and supply constraint. The Profit before Tax was Rs. 71.300 millions as compared to Rs. 98.000 millions for the previous year.

 

GENERAL INFORMATION

 

No. of Employees :

Information declined by the management.

 

 

Bankers :

Not Available

 

 

Facilities :

--

 

Banking Relations :

 

 

 

Auditors :

 

Name :

Cornelius and Davar

Chartered Accountants

Address :

Mumbai, Maharashtra, India

PAN No.:

ADTPD5145R

 

 

Holding Company :

Glaxosmithkline Pharmaceuticals Limited

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on: 17.04.2014

 

Names of Shareholders

 

 

No. of Shares

Glaxosmithkline Pharmaceuticals Limited, India

 

959999

Hasit Bharatkumar Joshipura

 

1

 

 

 

Total

 

960000

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.12.2013

31.12.2012

31.12.2011

I.        EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

9.600

9.600

9.600

(b) Reserves & Surplus

191.977

434.689

624.164

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

201.577

444.289

633.764

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.135

0.135

0.135

(d) long-term provisions

12.533

12.533

12.533

Total Non-current Liabilities (3)

12.668

12.668

12.668

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

76.206

21.819

22.366

(c) Other current liabilities

0.539

0.585

0.442

(d) Short-term provisions

3.132

0.000

4.947

Total Current Liabilities (4)

79.877

22.404

27.755

 

 

 

 

TOTAL

294.122

479.361

674.187

 

 

 

 

II.    ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

0.208

0.208

0.208

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

0.000

0.000

(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)

1.828

1.804

1.734

(d) Long-term Loan and Advances

48.600

48.592

40.784

(e) Other Non-current assets

0.000

70.100

264.100

Total Non-Current Assets

50.636

120.704

306.826

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

45.727

31.022

32.962

(c) Trade receivables

21.438

15.905

11.656

(d) Cash and cash equivalents

144.484

279.954

302.742

(e) Short-term loans and advances

30.270

23.901

7.171

(f) Other current assets

1.567

7.875

12.830

Total Current Assets

243.486

358.657

367.361

 

 

 

 

TOTAL

294.122

479.361

674.187

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.12.2013

31.12.2012

31.12.2011

 

SALES

 

 

 

 

Income

181.642

214.818

404.461

 

Other Income

11.413

28.338

36.589

 

TOTAL (A)

193.055

243.156

441.050

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

51.190

52.299

88.231

 

Purchases of Stock-in-Trade

11.635

3.572

19.482

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(3.524)

8.691

0.474

 

Other expenses

62.451

80.577

95.523

 

TOTAL (B)

121.752

145.139

203.710

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

71.303

98.017

237.340

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

0.000

0.000

0.000

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)

71.303

98.017

237.340

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

0.000

0.000

0.000

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

71.303

98.017

237.340

 

 

 

 

 

Less

TAX (H)

23.459

31.802

77.507

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

47.844

66.215

159.833

 

 

 

 

 

 

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

338.581

534.678

600.724

 

 

 

 

 

 

APPROPRIATIONS

 

 

 

 

Transfer to General Reserve

0.000 

6.622

15.983

 

Interim Dividend

0.000 

255.690

209.896

 

BALANCE CARRIED TO THE B/S

91.085

338.581

534.678

 

 

 

 

 

 

IMPORTS

49.711

56.594

71.318

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

49.84

68.97

166.49

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (48)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

RBI DEFAILTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

LOCATIONS

 

Registered Office / Factory 1 :

252, Dr. Annie Besant Road, Worli, Mumbai – 400 025, Maharashtra, India

Tel. No.:

91-22-24959595 / 24933871 / 24933514

Fax No.:

91-22-24935358

E-Mail :

info@biddlesawyer.com

Website :

www.biddlesawyer.com

 

 

Factory 2 :

2nd Pokhran Road, Thane – 400 601, Maharashtra, India

 

 

Factory 3 :

Ambad, Nashik – 422 010, Maharashtra, India

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.