MIRA
INFORM REPORT
|
Report Date : |
28.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
CALYX CHEMICALS AND PHARMACEUTICALS LIMITED (w.e.f. 08.09.2006) |
|
|
|
|
Formerly Known
As : |
CALYX CHEMICALS AND PHARMACEUTICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No.110,
Marwah’s Complex, Krishanlal Marwah Estate, Off. |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
14.01.1986 |
|
|
|
|
Com. Reg. No.: |
11-038618 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 160.489 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24220MH1986PLC038618 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC07976D/ MUMC09940A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCC1457B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in manufacturing and dealing in Active Pharmaceutical
Ingredients (APIs), Intermediates and Contract research and manufacturing
services. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 7200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. As per Registrar of Companies the date of Balance Sheet i.e.
financials filed is shown as 31st March 2013 but the documents related
to the financials for the year 2013 are not available from any sources. As per available financials 2012, financial position of the company
seems to be decent. However, trade relations are fair. Business is active. Payment terms
are usually correct. The company can be considered 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
As per the latest IMF study, the total weigh of emerging markets in the GDP
of the world on a purchasing power parity basis has seen a sizeable shift. It
highlights how as against 51 % in 2005, the emerging economies now account for
close to 56 % of the global purchasing power GDP as per the latest survey. And
with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets including
equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate
outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Issues Rating = BBB- (Suspended) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
11.02.2014 |
Reason for Suspension: The ratings have been suspended
as the company has not furnished the information required by care for
monitoring of the rating.
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. Rajendra Yadav |
|
Designation : |
Account Manager |
|
Contact No.: |
91-22-28571191 |
|
Date : |
22.07.2014 |
LOCATIONS
|
Registered Office : |
Unit No.110, Marwah’s Complex, Krishanlal Marwah Estate, Off. Saki
Vihar Road, Andheri (East), Mumbai – 400072, Maharashtra, India |
|
Tel. No.: |
91-22-28571191/ 82/ 28575037 |
|
Fax No.: |
91-22-66466401 |
|
E-Mail : |
dipali_dorugade@calyxindia.com
|
|
Website : |
|
|
Area : |
3000 Sq. ft. |
|
|
|
|
Corporate Office : |
A-37/38, MIDC, Phase 1, Golavli, Kalyan Shil Road, Dombivali (East),
Near Vicconaka, Thane – 421203, Maharashtra, India |
|
Tel. No.: |
91-251-2438310/ 6698300 |
|
Fax No.: |
91-251-2438726 |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
N 91/102, Tarapur Industrial Area, Boisar, District Thane, Maharashtra, India |
|
|
|
|
Factory 2 : |
W 212/213, MIDC, Phase II, Sonarpada, Dombivali (East), District Thane, Maharashtra, India |
DIRECTORS
As on 27.09.2013
|
Name : |
Mr. Smitesh Chandravadan Shah |
|
Designation : |
Managing Director |
|
Address : |
B-403, Eden – III, Hiranadani Grdens, Powai, Mumbai – 400 076, Maharashtra, India |
|
Date of Birth/Age : |
28.04.1959 |
|
Qualification : |
B.com |
|
Date of Appointment : |
01.04.2013 |
|
PAN No.: |
AMUPS4238C |
|
DIN No.: |
00019720 |
|
|
|
|
Name : |
Mr. Bharat Sukhlal Mehta |
|
Designation : |
Director |
|
Address : |
21, Nibbana Pali Hill, Bandra (West), Mumbai – 400 050, Maharashtra, India |
|
Date of Birth/Age : |
05.01.1938 |
|
Qualification : |
MBA |
|
Date of Appointment : |
31.03.2010 |
|
PAN No.: |
AAAPM7952K |
|
DIN No.: |
00038165 |
|
|
|
|
Name : |
Mr. Rajat Indulal Doshi |
|
Designation : |
Director |
|
Address : |
1 E, Dil Pazir, Bhulabhai Desai Road, Cumballa, Gamdevi, Mumbai – 400 026, Maharashtra, India |
|
Date of Birth/Age : |
13.10.1958 |
|
Qualification : |
B.com |
|
Date of Appointment : |
30.09.2009 |
|
PAN No.: |
AABPD9790M |
|
DIN No.: |
02423171 |
|
|
|
|
Name : |
Mr. Abhay Prafulchandra Desai |
|
Designation : |
Director |
|
Address : |
Flat No 502, Glen Classic Apts, Hiranandani Gardens, Powai Mumbai – 400076, Maharashtra, India |
|
Date of Birth/Age : |
27.06.1962 |
|
Date of Appointment : |
23.03.2010 |
|
DIN No.: |
03016913 |
|
|
|
|
Name : |
Mr. Chakradhar Bharat Chhaya |
|
Designation : |
Director |
|
Address : |
Sangeeta 9,22 A, Linking Road Ext. Santacruz (West), Mumbai – 400054, Maharashtra, India |
|
Date of Birth/Age : |
01.11.1943 |
|
Date of Appointment : |
23.03.2010 |
|
DIN No.: |
00968966 |
|
|
|
|
Name : |
Bhumitra Vinodchandra Dholakia |
|
Designation : |
Director |
|
Address : |
B-46/431, MIG Colony, Gandhi Nagar, Bandra East, Mumbai – 400051, Maharashtra, India |
|
Date of Birth/Age : |
03.09.1949 |
|
Date of Appointment : |
23.03.2010 |
|
DIN No.: |
01871816 |
|
|
|
|
Name : |
Mr. Jambunathan Srinivasa Iyer |
|
Designation : |
Director |
|
Address : |
9, Prakash Co-operative Housing Society, Relief Road, Daulat Nagar, Santacruz (West), Mumbai – 400054, Maharashtra, India |
|
Date of Birth/Age : |
01.05.1938 |
|
Date of Appointment : |
26.11.2011 |
|
DIN No.: |
00063729 |
KEY EXECUTIVES
|
Name : |
Mr. Rajendra Yadav |
|
Designation : |
Account Manager |
|
|
|
|
Name : |
Mr. Devanand P. Mojidra |
|
Designation : |
Company Secretary |
|
Address : |
A/504, Kamala Ashish Building, 3 CHS Limited, Mahavir Nagar, Dahanukar
Wadi, Kandivali (West), Mumbai – 400 067, Maharashtra, India |
|
Date of Birth/Age : |
07.02.1973 |
|
Date of Appointment : |
11.05.2012 |
|
PAN No.: |
AHRPM7047F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2013
NOTE: SHAREHOLDING
DETAILS FILE ATTACHED.
As on 27.09.2013
Equity Share Break up (Percentage of Total Equity)
|
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 |
10.20 |
|
Bodies corporate |
2.97 |
|
Directors or relatives of Directors |
75.56 |
|
Other |
11.27 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing and dealing in Active
Pharmaceutical Ingredients (APIs), Intermediates and Contract research and
manufacturing services. |
||||||||||
|
|
|
||||||||||
|
Products : |
|
||||||||||
|
|
|
||||||||||
|
Exports : |
|
||||||||||
|
Products : |
Finished Goods |
||||||||||
|
Countries : |
·
USA ·
China ·
Dubai |
||||||||||
|
|
|
||||||||||
|
Imports : |
|
||||||||||
|
Products : |
Raw Material |
||||||||||
|
Countries : |
China |
||||||||||
|
|
|
||||||||||
|
Terms : |
|
||||||||||
|
Selling : |
Cash / Credit / LC |
||||||||||
|
|
|
||||||||||
|
Purchasing : |
Cash / Credit / LC |
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production* |
|
Active Pharmaceutical Ingredients, Intermediate and Chemicals |
MT |
127463 |
1743 |
NOTE:
·
The Installed capacity
has been certified by the management.
·
* Includes outsourced, contract
manufactured and bought out goods.
GENERAL INFORMATION
|
Suppliers : |
C J Shah and Company |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Customers : |
Sandos Limited |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
500 (Approximately) |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
· UCO Bank, MCU Andheri (West), Marol Maroshi Road, Next to Marol Fire Bridge, Andheri (East), Mumbai – 400059, Maharashtra, India · State Bank of Bikaner and Jaipur, Commercial Network Branch, 239, P Demello Road, Opposite GPO, Fort, Mumbai – 400001, Maharashtra, India · State Bank of Hyderabad, New India Assurance Company Building Ground Floor, 87, Mahatma Gandhi Road, Mumbai – 400001, Maharashtra, India · Export-Import Bank of India, Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai – 400005, Maharashtra, India · State Bank of India, Backbay Reclamation Branch, Raheja Chambers, Nariman Point, Mumbai – 400021, Maharashtra, India · Corporation Bank, Large Corporate Branch, Eagles Flight, Suren Road, Andheri (East), Mumbai - 400093, Maharashtra, India · Punjab National Bank, Brady House, V.N. Road, Fort, Mumbai - 400023, Maharashtra, India · Bank of India, Andheri MID Corporate Branch, M.D.I Building, First Floor, 28 S.V Road, Andheri (West), Mumbai - 400058, Maharashtra, India · State Bank of India · State Bank of Mysore · IDBI Bank Limited · Oriental Bank of Commerce · State Bank of Patiala · Kotak Mahindra Bank Limited · Standard Chartered Bank · Indian Overseas Bank ·
State
Bank of Mysore ·
Bank
of Bahrain and Kuwait ·
Allahabad
Bank ·
Canara
Bank ·
ING
Vysya Bank ·
State
Bank of Mauritius |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
Fund and Non-Fund Rs.3000.000 Million (From State Bank of India) (Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Jatin V. Shah Chartered Accountant |
|
Address : |
261/263, D N Road, 4th Floor, Mumbai – 400 001,
Maharashtra, India |
|
Tel. No.: |
91-22-32948140 |
|
Fax No.: |
91-22-22610775 |
|
PAN No.: |
AVVPS9231R |
|
|
|
|
Subsidiaries : |
Singind Life
Sciences Pte. Limited, Singapore |
|
|
|
|
Entities over which Key
Management Personnel exercise significant influence/ Others: |
· Top Brass Gifts Private Limited · CIN No.: U18101MH1993PTC072347 · Sukhlal Mansukhlal Herbals (Formerly Known as Sum Electronics) · Sum Electronics · Calyx Employees Welfare Trust |
|
|
|
|
Sister Concern : |
·
Calyx Chemical LLC, Dubai ·
Calyx International USA |
CAPITAL STRUCTURE
As on 27.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16413473 |
Equity Shares |
Rs.10/- each |
Rs.164.135 Millions |
|
|
|
|
|
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16048890 |
Equity Shares |
Rs.10/- each |
Rs.160.489 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)
Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
160.489 |
159.332 |
|
(b) Reserves & Surplus |
|
1597.865 |
1187.591 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
57.704 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
1816.058 |
1346.923 |
|
|
|
|
|
|
(3) Non-current liabilities |
|
|
|
|
(a) Long-term borrowings |
|
1066.429 |
1175.607 |
|
(b) Deferred tax liabilities (Net) |
|
207.870 |
166.238 |
|
(c) Other long term liabilities |
|
400.844 |
366.641 |
|
(d) Long-term provisions |
|
10.153 |
0.000 |
|
Total Non-current Liabilities (3) |
|
1685.296 |
1708.486 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term borrowings |
|
1577.492 |
1024.364 |
|
(b) Trade payables |
|
1761.960 |
646.052 |
|
(c) Other current
liabilities |
|
365.940 |
373.154 |
|
(d) Short-term provisions |
|
67.992 |
26.074 |
|
Total Current Liabilities (4) |
|
3773.384 |
2069.644 |
|
|
|
|
|
|
TOTAL |
|
7274.738 |
5125.053 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
1184.938 |
973.880 |
|
(ii) Intangible Assets |
|
481.306 |
486.320 |
|
(iii) Capital
work-in-progress |
|
88.360 |
88.762 |
|
(iv)
Intangible assets under development |
|
442.941 |
345.699 |
|
(b) Non-current Investments |
|
2.981 |
2.713 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
29.850 |
27.883 |
|
(e) Other Non-current assets |
|
18.669 |
34.523 |
|
Total Non-Current Assets |
|
2249.045 |
1959.780 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
5.159 |
4.889 |
|
(b) Inventories |
|
2629.276 |
1868.138 |
|
(c) Trade receivables |
|
1796.906 |
920.727 |
|
(d) Cash and cash
equivalents |
|
464.735 |
188.012 |
|
(e) Short-term loans and
advances |
|
129.617 |
183.507 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
5025.693 |
3165.273 |
|
|
|
|
|
|
TOTAL |
|
7274.738 |
5125.053 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
135.360 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
780.482 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
915.842 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
1579.865 |
|
|
2] Unsecured Loans |
|
|
295.949 |
|
|
TOTAL BORROWING |
|
|
1875.814 |
|
|
DEFERRED TAX LIABILITIES |
|
|
156.246 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2947.902 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1453.601 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
1.020 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
1223.411
|
|
|
Sundry Debtors |
|
|
729.227
|
|
|
Cash & Bank Balances |
|
|
242.460
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
286.456
|
|
Total
Current Assets |
|
|
2481.554
|
|
|
Less : CURRENT LIABILITIES
& PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
913.307
|
|
|
Other Current Liabilities |
|
|
43.003
|
|
|
Provisions |
|
|
50.057
|
|
Total
Current Liabilities |
|
|
1006.367
|
|
|
Net Current Assets |
|
|
1475.187
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
18.094 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2947.902 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
5891.861 |
4171.774 |
3218.025 |
|
|
|
Other Income |
30.139 |
14.766 |
48.662 |
|
|
|
TOTAL (A) |
5922.000 |
4186.540 |
3266.687 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
4528.358 |
3038.899 |
|
|
|
|
Purchase of Stock-in-trade |
292.979 |
0.000 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(685.316) |
(114.644) |
|
|
|
|
Employee benefits expenses |
160.826 |
125.302 |
|
|
|
|
Manufacturing Expenses |
154.482 |
125.278 |
|
|
|
|
Administration Expenses |
254.964 |
175.704 |
|
|
|
|
Selling and Distribution Expenses |
32.577 |
41.297 |
|
|
|
|
Research and Development Expenses |
19.811 |
22.176 |
|
|
|
|
TOTAL (B) |
4758.681 |
3414.012 |
2681.255 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1163.319 |
772.528 |
585.432 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
455.870 |
286.637 |
232.453 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
707.449 |
485.891 |
352.979 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
129.430 |
97.704 |
77.371 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
578.019 |
388.187 |
275.608 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
161.836 |
91.461 |
67.238 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
416.183 |
296.726 |
208.370 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
837.922 |
598.665 |
422.057 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Equity Dividend Paid |
15.934 |
|
31.762 |
|
|
|
Tax on Interim Dividend |
2.585 |
0.000 |
|
|
|
|
Proposed Final Equity Dividend |
12.037 |
23.900 |
|
|
|
|
Tax on Dividend |
1.953 |
3.969 |
|
|
|
|
Transfer to General Reserves |
41.600 |
29.600 |
|
|
|
BALANCE CARRIED
TO THE B/S |
1179.996 |
837.922 |
598.665 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
1486.344 |
817.867 |
389.208 |
|
|
TOTAL EARNINGS |
1486.344 |
817.867 |
389.208 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
0.481 |
0.000 |
0.000 |
|
|
|
Raw Materials |
1522.396 |
1299.467 |
1168.685 |
|
|
|
Consumables |
0.028 |
0.156 |
0.321 |
|
|
TOTAL IMPORTS |
1522.905 |
1299.623 |
1169.006 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
26.12 |
19.33 |
17.61 |
|
|
Particulars |
|
31.03.2014 |
31.03.2013 |
|
Sales Turnover (Approximately) |
|
6000.000 |
8000.000 |
|
|
|
|
|
The above information has been parted by Mr. Rajendra Yadav
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
7.03 |
7.09
|
6.38
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.81 |
9.31
|
8.56
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.58 |
8.28
|
7.00
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32 |
0.29
|
0.30
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.46 |
1.63
|
2.05
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33 |
1.53
|
2.47
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2011 |
31.03.2012 |
|
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
|
159.332 |
160.489 |
|
Reserves & Surplus |
|
1187.591 |
1597.865 |
|
Share Application money
pending allotment |
|
0.000 |
57.704 |
|
Net
worth |
|
1346.923 |
1816.058 |
|
|
|
|
|
|
long-term borrowings |
|
1175.607 |
1066.429 |
|
Short term borrowings |
|
1024.364 |
1577.492 |
|
Total
borrowings |
|
2199.971 |
2643.921 |
|
Debt/Equity
ratio |
|
1.633 |
1.456 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3218.025 |
4171.774 |
5891.861 |
|
|
|
29.638 |
41.232 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3218.025 |
4171.774 |
5891.861 |
|
Profit |
208.370 |
296.726 |
416.183 |
|
|
6.48% |
7.11% |
7.06% |
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 |
Yes |
|
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 |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
No |
|
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 DETAILS
|
HIGH COURT OF BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Presentation
Date: 02/07/2013 |
|
Lodging No: WPST/17966/2013 Filing Date: 02/07/2013 Reg. No.: WP/5870/2013 Reg. Date: 05/07/2013 |
|
Petitioner: MAHARASHTRA STATE ELECTRICITY DISTRIC Respondent: CALYX CHEMICALS AND PHARMACEUTICALS LIMITED Petn. Adv : DSK LEGAL (0) District: THANE
Resp. Adv.:- PRAVIN D. KADAM (348) |
|
Bench: SINGLE Status: Pre-Admission Next Date: 30/07/2014
Stage: PETITIONS FOR ADMISSION AFTER
NOTICE
(CIVIL SIDE MATTERS) Coram:- ACCORDING TO SITTING LIST Last Date:- 18/06/2014 Stage: PETITIONS FOR ADMISSION AFTER
NOTICE
(CIVIL SIDE MATTERS) Last Coram: HON’BLE SHRI JUSTICE R.M. SAVANT |
|
Act: Electricity Supplies Act, 1948 |
CHANGE OF ADDRESS
The registered
office of the company has been shifted from Unit No.2, Marwah’s Complex, Marwah Estate,
Saki Vihar Road, Andheri (East), Mumbai – 400 072, Maharashtra to the present address w.e.f. 03.09.2012.
CORPORATE INFORMATION
Subject is a closely held public limited company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The Company is engaged in manufacturing and dealing in Active Pharmaceutical Ingredients (APIs), Intermediates and Contract research and manufacturing services. The company caters to both domestic and international markets.
FINANCIAL RESULTS AND
OPERATIONS OF THE COMPANY
Total Revenue of the Company recorded a growth of 41.45% to Rs.5922.000 millions as compared to Rs.4186.540 millions in previous financial year. The net profit of the Company rose by 40.26% to Rs.416.183 millions as compared to Rs.296.726 millions in previous year. The Company has achieved the export of Rs.1489.300 millions during the year.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10489968 |
31/03/2014 |
500,000,000.00 |
THE JAMMU AND KASHMIR BANK LIMITED |
MAHAKALI CAVES, SUBHASH NAGAR, ANDHERI (EAST), MUMBAI, MAHARASHTRA - 400093, INDIA |
C03753779 |
|
2 |
10406186 |
18/02/2013 |
200,000,000.00 |
UCO BANK |
MCU ANDHERI (WEST), MAROL MAROSHI ROAD, NEXT TO MAROL FIRE BRIGADE, ANDHERI (E), MUMBAI, MAHARASHTRA - 400059, INDIA |
B68691112 |
|
3 |
10400489 |
17/01/2013 |
275,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE |
B66677725 |
|
4 |
10389644 |
04/12/2012 |
400,000,000.00 |
CORPORATION BANK |
LARGE CORPORATE BRANCH, EAGLES FLIGHT,, SUREN ROAD, ANDHERI (E), MUMBAI, MAHARASHTRA - 400093, INDIA |
B63207336 |
|
5 |
10379031 |
05/10/2012 |
600,000,000.00 |
STATE BANK OF TRAVANCORE |
N.M.WADIA BUILDING, 125 M.G ROAD, MUMBAI, MAHARASHTRA - 400021, INDIA |
B59100479 |
|
6 |
10365476 |
10/07/2012 |
52,200,000.00 |
DENA BANK |
SHARE BAZAR BRANCH, HAMAM STREET, MUMBAI, MAHARASHTRA - 400023, INDIA |
B43627074 |
|
7 |
10367854 |
04/07/2012 |
100,000,000.00 |
BANK OF MAHARASHTRA |
SHASHTRI HALL,, 292 , TARDEO ROAD,, MUMBAI, MAHARASHTRA - 400007, INDIA |
B44626364 |
|
8 |
10368035 |
04/07/2012 |
150,000,000.00 |
BANK OF MAHARASHTRA |
SHASHTRI HALL,, 292 , TARDEO ROAD,, MUMBAI, MAHARASHTRA - 400007, INDIA |
B44696557 |
|
9 |
10365935 |
23/06/2012 |
400,000,000.00 |
STATE BANK OF BIKANER AND JAIPUR |
COMMERCIAL NETWORK BRANCH, 239, P.D'MELLO ROAD, NEAR G.P.O., MUMBAI, MAHARASHTRA - 400001, INDIA |
B43778810 |
|
10 |
10364958 |
17/10/2012 * |
6,459,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE, COLABA,, MUMBAI, MAHARASHTRA - 400005, INDIA |
B60027612 |
|
11 |
10360984 |
23/05/2012 |
200,000,000.00 |
STATE BANK OF BIKANER AND JAIPUR |
COMMERCIAL NETWORK BRANCH,, 239,P.D'MELLO ROAD, NEAR G.P.O, MUMBAI, MAHARASHTRA - 400001, INDIA |
B41781865 |
|
12 |
10323423 |
15/12/2011 |
50,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE |
B27972421 |
|
13 |
10323416 |
15/12/2011 |
250,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE |
B27971837 |
|
14 |
10293104 |
18/05/2011 |
270,000,000.00 |
SBI GLOBAL FACTORS LIMITED |
6TH FLOOR, METROPOLITAN BUILDING, BANDRA-KURLA, COMPLEX,
BANDRA(EAST), MUMBAI, MAHARASHTRA - 400051 |
B15321300 |
|
15 |
10238777 |
22/02/2012 * |
4,768,000,000.00 |
STATE BANK OF INDIA |
BACKBAY RECLAMATION BRANCH,RAHEJA CHAMBERS,, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B36744563 |
|
16 |
90219177 |
17/03/2004 |
30,000,000.00 |
STATE BANK OF INDIA |
BACKBAY RECLAMATION, MUMBAI, MAHARASHTRA - 400021, |
- |
|
17 |
80058733 |
25/06/2004 * |
44,000,000.00 |
SBI FACTOR AND COMMERCIAL SERVICES LTD. |
BANDRA (W), MUMBAI, MAHARASHTRA - 400050, INDIA |
- |
|
18 |
90218409 |
06/10/2009 * |
2,585,000,000.00 |
STATE BANK OF INDIA |
BACKBAY RECLAMATION BRANCH,RAHEJA CHAMBERS, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
A72624505 |
* Date of charge modification
FIXED ASSETS
·
· Building
· Plant and Machinery
· Air Conditioner
· Computer
· Electrical Installation
· Furniture and Fixture
· Laboratory Equipment
· Vehicles
· Office Equipment
· Air Conditioner
· Computer
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 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.60.14 |
|
|
1 |
Rs.102.22 |
|
Euro |
1 |
Rs.81.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
HEN |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--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 |
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 |
|
50 |
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.