1. Summary Information
|
Country |
India |
||
|
Company Name |
DIVI’S LABORATORIES LIMITED |
Principal Name 1 |
Dr. Murali K Divi |
|
Status |
Good |
Principal Name 2 |
Mr. Madhusudana Rao Divi |
|
Registration # |
01-011854 |
||
|
Street Address |
7-1-77/E/1/303,
Dharam Karan Road, Amarpret, Hyderabad-500016, Andhra Pradesh |
||
|
Established Date |
12.10.1990 |
SIC Code |
-- |
|
Telephone# |
91-40-23731318/ 23731760 / 61 / 23786300 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-40-23733242 / 23786460 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Active Pharma Ingredients (APIs) and Intermediates |
|
|
# of employees |
100
(Approximately) |
Product Name 2 |
-- |
|
Paid up capital |
Rs.265,469,000/- |
Product Name 3 |
-- |
|
Shareholders |
Shareholding of Promoter and Promoter Group
– 52.08% Public shareholding
-47.92% |
Banking |
|
|
Public Limited Corp. |
Yes |
Business Period |
24 Years |
|
IPO |
Yes |
International Ins. |
- |
|
Public Enterprise |
Yes |
Rating |
Aa
(72) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiaries |
USA |
Divis Laboratories (USA) Inc. , New Jersey, |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
7674,217,000 |
Current Liabilities |
2876,608,000 |
|
Inventories |
8059,484,000 |
Long-term Liabilities |
326,149,000 |
|
Fixed Assets |
9084,990,000 |
Other Liabilities |
3223,594,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
6,426,351,000 |
|
Invest& other Assets |
7140,441,000 |
Retained Earnings |
25267,312,000 |
|
|
|
Net Worth |
25532,781,000 |
|
Total Assets |
31,959,132,000 |
Total Liab. & Equity |
31,959,132,000 |
|
Total Assets (Previous Year) |
28,029,650,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Sales |
21,288,899,000 |
Net Profit |
6,114,212,000 |
|
Sales(Previous yr) |
18,449,281,000 |
Net Profit(Prev.yr) |
5,459,693,000 |
MIRA INFORM REPORT
|
Report Date : |
05.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
DIVI’S LABORATORIES LIMITED |
|
|
|
|
Registered
Office : |
7-1-77/E/1/303, Dharam Karan Road, Amarpret, Hyderabad-500016, Andhra
Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
12.10.1990 |
|
|
|
|
Com. Reg. No.: |
01-011854 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.265.469 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24110AP1990PLC011854 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDD00549D |
|
|
|
|
Legal Form : |
A Public Limited Liability
Company. The Company’s Shares are
Listed on the Stock Exchanges. |
|
|
|
|
Line of Business
: |
The company is engaged in manufacturing and sale of active
pharma ingredients and intermediates. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (72) |
|
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 102000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and a reputed company having fine track
record. Financial position of the company seems to be sound. Fundamentals are
strong and healthy. Directors are reported to be an experienced and
respectable businessmen. Trade relations are reported as fair. Business is
active. Payments are reported to be regular and as per commitments. The company can be considered normal 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
US investment bank Goldman
Sachs has upgraded its outlook on Indian markets as it expects positive
impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1 million
Indian tourists in 2012), Thailand (one million), the United Arab Emirates
().98 million) and Malaysia ().82 million) emerged as the preferred holidays
hotspots for Indians. The total figure is expected to increase to 1.93 million
by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = AA+ |
|
Rating Explanation |
High credit quality and low credit risk |
|
Date |
07.10.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk |
|
Date |
07.10.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED
Management Non-Cooperative (Tel No.: 91-40-23731318)
LOCATIONS
|
Registered Office : |
7-1-77/E/1/303, Dharam Karan Road, Amarpret, Hyderabad – 500016,
Andhra Pradesh, India |
|
Tel. No.: |
91-40-23731318/ 23731760 / 61 / 23786300 |
|
Fax No.: |
91-40-23733242 / 23786460 |
|
E-Mail : |
marketing@divislaboratories.com chemicals@divislaboratories.com |
|
Website : |
|
|
|
|
|
Factory 1 : |
Choutuppal Unit Lingojigudem Village, Choutuppal Mandal, Nalgonda – 508252, Andhra
Pradesh, India |
|
Tel. No.: |
91-8694-272092, 272260 |
|
Fax No.: |
91-8694-272685 |
|
|
|
|
Factory 2 : |
100% Export Oriented
Unit – Chippada / Divi’s Pharma SEZ / DSN SEZ Unit Chippada Village, Bheemunipatnam Mandal, Visakhapatnam-531162, Andhra
Pradesh, India |
|
Tel. No.: |
91-8922-245166 |
|
Fax No.: |
91-8922-245165 |
|
|
|
|
R
and D Centers: |
Located At:
|
DIRECTORS
As on 31.03.2013
|
Name : |
Dr. Murali K Divi |
|
Designation : |
Chairman and Managing Director |
|
Date of Birth / Age : |
62 Years |
|
Qualification : |
M. Pharm. Ph.D. |
|
|
|
|
Name : |
Mr. N V Ramana |
|
Designation : |
Executive Director |
|
Date of Birth / Age : |
55 Years |
|
Qualification : |
B.Sc. (Chem) |
|
|
|
|
Name : |
Mr. Madhusudana Rao Divi |
|
Designation : |
Director (Projects) |
|
Date of Birth / Age : |
14.01.1944 |
|
Qualification : |
Post-graduate degree in Structural Engineering from Mysore
University, Karnataka |
|
Date of Appointment : |
14.10.1994 |
|
|
|
|
Name : |
Mr. Kiran S. Divi |
|
Designation : |
President Director |
|
Date of Birth / Age : |
37 Years |
|
Qualification : |
B. Pharm. |
|
|
|
|
Name : |
Dr. K. Satyanarayana |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. S. Vasudev |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. G. Venkat Rao* |
|
Designation : |
Director |
|
|
|
|
Name : |
Prof. C. Ayyanna |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr. G. Suresh Kumar |
|
Designation : |
Director |
|
Date of Birth / Age : |
22.01.1951 |
|
Qualification : |
|
|
Date of Appointment : |
10.03.2001 |
|
|
|
|
Name : |
Mr. R. Ranga Rao** |
|
Designation : |
Director |
|
Date of Birth / Age : |
10.07.1951 |
|
Qualification : |
Post-graduate degree in Pharmacy from College of Pharmacy,
Manipal, Karnataka. |
|
Date of Appointment : |
03.11.2012 |
*Ceased to be a Director w.e.f.
03.11.2012
**Appointed as an additional Director w.e.f.
03.11.2012
KEY EXECUTIVES
|
Name : |
Mr. P.V. Lakshmi Rajani |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Mr. L. Kishore Babu |
|
Designation : |
Chief Financial Officer |
SHAREHOLDING PATTERN
As on 31.03.2014
|
Names of Shareholders |
No.
of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
65080616 |
49.03 |
|
|
4000000 |
3.01 |
|
|
69080616 |
52.04 |
|
|
|
|
|
|
50000 |
0.04 |
|
|
50000 |
0.04 |
|
Total
shareholding of Promoter and Promoter Group (A) |
69130616 |
52.08 |
|
(B)
Public Shareholding |
|
|
|
|
|
|
|
|
15862213 |
11.95 |
|
|
172522 |
0.13 |
|
|
24163231 |
18.20 |
|
|
40197966 |
30.28 |
|
|
|
|
|
|
12234045 |
9.22 |
|
|
|
|
|
|
8192076 |
6.17 |
|
|
945607 |
0.71 |
|
|
2033980 |
1.53 |
|
|
903780 |
0.68 |
|
|
666470 |
0.50 |
|
|
143753 |
0.11 |
|
|
319977 |
0.24 |
|
|
23405708 |
17.63 |
|
Total
Public shareholding (B) |
63603674 |
47.92 |
|
Total
(A)+(B) |
132734290 |
100.00 |
|
(C)
Shares held by Custodians and against which Depository Receipts have been
issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
132734290 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in manufacturing and sale of active
pharma ingredients and intermediates. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Installed Capacity |
Actual Production |
|
Active Pharma Ingredients and Intermediates |
MTs |
4500 |
2595.39 |
Note:
Net of captive consumption of 6421.08 MTs
(Previous year 3525.88 MTs)
GENERAL INFORMATION
|
No. of Employees : |
100 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
Bank of Nova Scotia |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
Long Term
Borrowings Nature of Security :
Short Term
Borrowings Working Capital Loans from banks (Secured) : 1.
Nature of Security : Secured by hypothecation of
stocks, book debts and receivables and further secured by second charge on
fixed assets of the company) 2.
There are no defaults in repayment of loans and
interest 3.
The above loans carry interest @ 11% to 12.50%
p.a. Overdraft against Fixed Deposits from banks
(Secured) : 1.
Nature of Security : Secured by hypothecation of
Fixed Deposits of the company 2.
There are no defaults in repayment of loans and
interest 3.
The above loans carry interest @ 9.50% to 9.75%
p.a. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P.V.R.K. Nageswara Rao and Company Chartered Accountants |
|
Address : |
109, Metro Residency, 6-3-1247, Rajbhavan Road, Hyderabad – 500 082,
Andhra Pradesh, India |
|
|
|
|
Cost Auditors : |
|
|
Name : |
EVS and
Associates Cost Accountants |
|
Address : |
206, Raghava Ratna
Towers, Chirag Ali Lane, Hyderabad – 500 001, Andhra Pradesh, India |
|
|
|
|
Wholly Owned
Subsidiary |
|
|
|
|
|
Company In Which
Key Management Personnel have Significant Influence : |
|
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000000 |
Equity Shares |
Rs.2/- each |
Rs.300.000 Millions |
Issued Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
132734290 |
Equity Shares |
Rs.2/- each |
Rs.265.469 Millions |
Reconciliation of the number of shares
|
Equity Shares |
Number
of Shares |
|
Shares outstanding at the beginning of the year |
132734290 |
|
Shares issued during the year |
- |
|
Shares
outstanding at the end of the year |
132734290 |
Details of equity shares held by
shareholders holding more than 5% shares:
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Promoters Group : |
|
|
|
Dr.Murali
Krishna Prasad Divi |
7783500 |
5.86% |
|
Satchandra Kiran
Divi |
23000000 |
17.33% |
|
Swarnalatha Divi |
7000000 |
2.27% |
|
Nilima Motaparti |
27000000 |
20.34% |
|
Other Than Promoters Group : |
|
|
|
Reliance Capital
Trustee Company Limited |
10073608 |
7.59% |
Aggregate number of bonus shares issued during the period
of five years immediately preceding the reporting date
On 2nd August
2009, the company issued 64847975 equity shares of Rs.2/- each as fully paid
bonus shares by capitalization of general reserve and other free reserves.
Terms/rights attached to equity shares:
The company has
only one class of equity shares having a par value of Rs.2/- per share. Each
holder of equity shares is entitled to one vote per share. The company declares
and pays dividend in Indian rupees. The dividend proposed by the Board of
Directors is subject to the approval of the shareholders in the ensuing Annual
General Meeting.
During the year
ended 31st March 2013, the amount of per share dividend recognised as
distribution to equity shareholders was Rs.15/-
In the event of
liquidation of the company, the holders of equity shares will be entitled to
receive remaining assets of the company, after distribution of all preferential
amounts. The distribution will be in proportion to the number of equity shares
held by the shareholders.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
265.469 |
|
(b) Reserves & Surplus |
|
|
25267.312 |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
25532.781 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
21.004 |
|
(b) Deferred tax liabilities (Net) |
|
|
865.521 |
|
(c) Other long term
liabilities |
|
|
0.000 |
|
(d) long-term
provisions |
|
|
23.909 |
|
Total Non-current
Liabilities (3) |
|
|
910.434 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
|
305.145 |
|
(b) Trade
payables |
|
|
1583.073 |
|
(c) Other
current liabilities |
|
|
1293.535 |
|
(d) Short-term
provisions |
|
|
2334.164 |
|
Total Current
Liabilities (4) |
|
|
5515.917 |
|
|
|
|
|
|
TOTAL |
|
|
31959.132 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
|
|
9084.990 |
|
(ii)
Intangible Assets |
|
|
0.000 |
|
(iii)
Capital work-in-progress |
|
|
3034.144 |
|
(iv)
Intangible assets under development |
|
|
0.000 |
|
(b)
Expenditure during construction period pending capitalization |
|
|
0.000 |
|
(c) Non-current Investments |
|
|
28.161 |
|
(d) Deferred tax assets (net) |
|
|
0.000 |
|
(e) Long-term Loan and Advances |
|
|
1072.705 |
|
(f) Other
Non-current assets |
|
|
0.000 |
|
Total Non-Current
Assets |
|
|
13220.000 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
|
4078.136 |
|
(b)
Inventories |
|
|
8059.484 |
|
(c) Trade
receivables |
|
|
5589.006 |
|
(d) Cash
and cash equivalents |
|
|
346.828 |
|
(e) Short-term
loans and advances |
|
|
598.911 |
|
(f) Other
current assets |
|
|
66.767 |
|
Total
Current Assets |
|
|
18739.132 |
|
|
|
|
|
|
TOTAL |
|
|
31959.132 |
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
265.469 |
265.190 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
21482.487 |
18015.265 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
21747.956 |
18280.455 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
502.037 |
158.033 |
|
|
2] Unsecured Loans |
|
25.569 |
27.423 |
|
|
TOTAL BORROWING |
|
527.606 |
185.456 |
|
|
DEFERRED TAX LIABILITIES |
|
672.872 |
549.119 |
|
|
|
|
|
|
|
|
TOTAL |
|
22948.434 |
19015.030 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
7381.949 |
5897.286 |
|
|
Capital work-in-progress |
|
1815.778 |
1037.158 |
|
|
Unallocated
expenditure pending capitalisation |
|
4.106 |
6.199 |
|
|
Advances for
Capital Works |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
4798.551 |
5284.543 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
6509.685
|
5430.655 |
|
|
Sundry Debtors |
|
5344.709
|
3927.801 |
|
|
Cash & Bank Balances |
|
218.224
|
127.998 |
|
|
Other Current Assets |
|
68.467
|
51.243 |
|
|
Loans & Advances |
|
1888.181
|
1318.442 |
|
Total
Current Assets |
|
14029.266
|
10856.139 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
0.000
|
0.000 |
|
|
Other Current Liabilities |
|
2982.614
|
1707.427 |
|
|
Provisions |
|
2098.602
|
2358.868 |
|
Total
Current Liabilities |
|
5081.216
|
4066.295 |
|
|
Net Current Assets |
|
8948.050
|
6789.844 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
22948.434 |
19015.030 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
21288.899 |
18449.281 |
13148.695 |
|
|
|
Other Income |
485.125 |
657.607 |
292.253 |
|
|
|
TOTAL (A) |
21774.024 |
19106.888 |
13440.948 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Raw
materials consumed |
8978.981 |
7686.799 |
4866.797 |
|
|
|
Purchases of
Stock-in-trade |
0.943 |
1.006 |
0.000 |
|
|
|
Changes in
inventories of finished goods, work-in progress and Stock-in-trade |
(1003.310) |
(106.566) |
345.229 |
|
|
|
Employee
benefits expense |
1912.018 |
1451.562 |
1120.556 |
|
|
|
Research and
development expenses |
239.987 |
188.593 |
159.809 |
|
|
|
Other expenses |
2942.835 |
2279.200 |
1609.380 |
|
|
|
TOTAL (B) |
13071.454 |
11500.594 |
8101.771 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
8702.570 |
7606.294 |
5339.177 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
17.765 |
37.432 |
15.165 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
8684.805 |
7568.862 |
5324.012 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
768.956 |
620.311 |
533.515 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
7915.849 |
6948.551 |
4790.497 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1801.637 |
1488.858 |
434.836 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
6114.212 |
5459.693 |
4355.661 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
16414.995 |
14211.413 |
12146.806 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
1991.014 |
1725.546 |
1325.951 |
|
|
|
Provision for Corporate Dividend Tax |
338.373 |
279.927 |
215.103 |
|
|
|
Dividend of earlier year |
0.000 |
0.549 |
0.000 |
|
|
|
Corporate Dividend Tax of earlier year |
0.000 |
0.089 |
0.000 |
|
|
|
Amount transferred to General Reserve |
1500.000 |
1250.000 |
750.000 |
|
|
BALANCE CARRIED
TO THE B/S |
18699.820 |
16414.995 |
14211.413 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
18601.633 |
16068.838 |
11811.894 |
|
|
|
Contract Research Fee |
22.439 |
58.958 |
23.840 |
|
|
|
Job work charges |
165.304 |
23.093 |
0.000 |
|
|
TOTAL EARNINGS |
18789.376 |
16150.889 |
11835.734 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
4479.898 |
3486.414 |
2369.903 |
|
|
|
Packing Material |
11.166 |
17.218 |
6.724 |
|
|
|
Lab Chemicals |
20.301 |
11.819 |
6.123 |
|
|
|
Components and Spare parts |
7.575 |
7.450 |
17.929 |
|
|
|
Capital goods |
162.425 |
115.536 |
122.366 |
|
|
TOTAL IMPORTS |
4681.365 |
3638.437 |
2523.045 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) [Basic] |
46.06 |
41.15 |
32.90 |
|
|
|
Earnings Per
Share (Rs.) [Diluted] |
46.06 |
41.15 |
32.88 |
|
|
|
|
|
|
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
28.08 |
28.57
|
35.64 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
37.18 |
34.66
|
36.43 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
86.50 |
49.53
|
44.13 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31 |
0.32
|
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.01 |
0.26
|
0.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.40 |
2.76
|
2.67 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
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 |
13,148.695 |
18,449.281 |
21,288.899 |
|
|
|
40.313 |
15.391 |
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
|
13,148.695 |
18,449.281 |
21,288.899 |
|
Profit |
4,355.661 |
5,459.693 |
6,114.212 |
|
|
33.13% |
29.59% |
28.72% |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOAN:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Deferred Payment
Liabilities |
|
|
|
Deferred Sales Tax Credit |
25.569 |
27.424 |
|
Less: Current maturities of long-term debt |
(4.565) |
(1.855) |
|
Total |
21.004 |
25.569 |
Notes:
Term of Repayment:
Period: 14 Years
Number of Installments due: 5
Rate of Interest: Interest free
The above liability due thereon has been paid upto date and there are no
continuing defaults.
INDUSTRY OUTLOOK
Pharmaceutical
market research firm, IMS Health forecast that the global spending on medicines
annually will grow from about $956 bn in 2011 to nearly $1.2 trillion by the
year 2016, as the pharmerging markets, biologics and generics contribute a
greater shape of spending. Developed markets will decline to 57% of global
spending due to patent expiries, slower brand spending growth and increased
cost containment actions by payers. In next five years, pharmerging markets
share of spending will increase by 10% points to 30% of global spending.
IMS Health
predicts that North and South America, Europe and Japan will continue to
account for a full 85% of the Global pharma market well into the 21st century.
The generic drug
market is gaining increasing ground over branded pharmaceuticals, with the FDA
reporting that generics account for more than 70% of prescription drugs in the
US, according to BCC Research report. The global generic drug market should
grow at a CAGR of 15% over 5 years. While US market for generic drugs is
forecast to show more than 10% CAGR, reaching $54, Japan is likely to see over
12% growth to exceed $9.5 billion in 2014.
With strong
presence both within the patented and generic active ingredient segments, your
company will continue to support its customers by offering cost competitive and
faster delivery structure.
FINANCIAL RESULTS
The company has
achieved a sales growth of 15% for the year on the back of a decent growth of
41% achieved during the last year.
They made a provision
of Rs.1609.000 Millions towards Income tax this year (including MAT credit
utilization of Rs.79.000 Millions). Provision for last year amounted to
Rs.1365.100 Millions including a MAT credit utilization of Rs.3.68 Millions. An
amount of Rs.192.600 Millions has been provided towards Deferred Tax Liability
during the year as against Rs.123.800 Millions during the previous year.
PAT amounted to
Rs.6114.200 Millions for the year, reflecting a growth of 12%. Earnings Per
Share of Rs.2/- each works out to Rs.460.600 for the year as against Rs.411.500
last year.
AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED
31.03.2014
(Rs. In Millions)
|
Sr. No. |
Particular |
Quarter Ended |
Year Ended |
|
|
|
|
31.03.2014 |
31.12.2013 |
31.03.2014 |
|
|
|
audited
|
unaudited
|
audited
|
|
|
|
|
|
|
|
1. |
Net Sales/Income
from Operations |
7380.100 |
6874.100 |
25071.800 |
|
|
Other Operating
Income |
25.900 |
18.600 |
67.900 |
|
|
Total Income From Operations (Net) |
7406.000 |
6892.700 |
25139.700 |
|
|
|
|
|
|
|
2. |
Expenditure |
|
|
|
|
|
Cost
of materials consumed |
2217.800 |
2447.300 |
10318.900 |
|
|
Purchase
of stock in trade |
0.000 |
0.000 |
0.000 |
|
|
Changes
in inventories of finished goods, work in progress and stock in trade |
824.700 |
115.100 |
(1137.500) |
|
|
Employee
benefits expenses |
591.500 |
571.000 |
2254.300 |
|
|
Depreciation
and amortization expenses |
253.900 |
232.700 |
920.600 |
|
|
Other
expenses |
1153.800 |
881.400 |
3515.400 |
|
|
Total Expenses |
5041.700 |
4247.500 |
15871.700 |
|
|
|
|
|
|
|
3. |
Profit
From Operations before Other Income, Interest and Exceptional Items (1-2) |
2364.300 |
2645.200 |
9268.000 |
|
|
|
|
|
|
|
4. |
Other
Income |
93.800 |
79.100 |
839.000 |
|
|
|
|
|
|
|
5. |
Profit
Before Interest and Exceptional Items (3+4) |
2458.100 |
2724.300 |
10107.000 |
|
|
|
|
|
|
|
6. |
Finance
Cost |
9.100 |
3.500 |
20.600 |
|
|
|
|
|
|
|
7. |
Profit
After Interest but before Exceptional Items (5-6) |
2449.000 |
2720.800 |
10086.400 |
|
|
|
|
|
|
|
8. |
Exceptional
Items |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
9. |
Profit
from Ordinary Activities before Tax (7+8) |
2449.000 |
2720.800 |
10086.400 |
|
|
|
|
|
|
|
10. |
Tax Expense |
518.400 |
530.600 |
2169.200 |
|
|
|
|
|
|
|
11. |
Net
Profit from Ordinary Activities after Tax (9-10) |
1930.600 |
2190.200 |
7917.200 |
|
|
|
|
|
|
|
12. |
Extraordinary
Item (net of expense) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
13. |
Net
Profit for the period (11-12) |
1930.600 |
2190.200 |
7917.200 |
|
|
|
|
|
|
|
14. |
Share
of profit/(loss) of Associates |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
15. |
Minority
interest |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
16. |
Net
Profit / (Loss) After tax |
1930.600 |
2190.200 |
7917.200 |
|
|
|
|
|
|
|
|
Paid-up
Equity Share Capital |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Reserve
Excluding revaluation reserves |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
17. |
Basic and Diluted Earning Per
Share (EPS) (Rs.)-Not Annualised |
|
|
|
|
|
a)
Basic and diluted EPS before extraordinary items |
14.54 |
16.50 |
59.65 |
|
|
b)
Basic and diluted EPS after extraordinary items |
14.54 |
16.50 |
59.65 |
|
|
|
|
|
|
|
17. |
Public Shareholding |
|
|
|
|
|
-Number
of Shares |
63603674 |
63556194 |
63603674 |
|
|
-
Percentage of Shareholding |
47.92% |
47.88% |
47.92% |
|
|
|
|
|
|
|
18. |
Promoters and Promoter Group
Shareholding |
|
|
|
|
|
a) Pledged/Encumbered |
|
|
|
|
|
-
Number of Shares |
Nil |
Nil |
Nil |
|
|
-
Percentage of Shares (as a % of the Total Shareholding of promoter and
promoter group) |
Nil |
Nil |
Nil |
|
|
- Percentage
of Shares (as a % of the Total Share Capital of the Company) |
Nil |
Nil |
Nil |
|
|
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
|
-
Number of Shares |
69130616 |
69178096 |
69130616 |
|
|
- Percentage
of Shares (as a % of the Total Shareholding of Promoter and Promoter Group) |
100% |
100% |
100% |
|
|
-
Percentage of Shares (as a % of the Total Share Capital of the Company) |
52.08% |
52.12% |
52.08% |
|
Investor
complaints |
Quarter Ended 31.03.2014 |
|
pending at the beginning of the quarter |
Nil |
|
received during the quarter |
28 |
|
disposed of during the quarter |
28 |
|
unresolved at the end of the quarter |
Nil |
STATEMENTS ASSETS
AND LIABILITIES
|
PARTICULARS |
31.03.2014 |
|
EQUITY AND LIABILITIES |
|
|
Shareholders'
funds |
|
|
Share Capital |
265.500 |
|
Reserves & Surplus |
30078.700 |
|
Sub total-
Shareholders' funds |
30344.200 |
|
Non-current
liabilities |
|
|
Long-term borrowings |
15.500 |
|
Deferred tax liabilities (Net) |
1216.700 |
|
Other long term liabilities |
0.000 |
|
Long-term
provisions |
31.800 |
|
Sub total-Non-Current Liabilities |
1264.000 |
|
Current liabilities |
|
|
Short term borrowings |
163.200 |
|
Trade payables |
1486.900 |
|
Other current
liabilities |
1465.500 |
|
Short-term
provisions |
3115.800 |
|
Sub total-Current
Liabilities |
6231.400 |
|
TOTAL EQUITY AND
LIABILITIES |
37839.600 |
|
|
|
|
ASSETS |
|
|
Non-current assets |
|
|
Fixed assets |
|
|
Fixed Assets |
13660.900 |
|
Goodwill
on consolidation |
0.000 |
|
Non-current Investments |
28.200 |
|
Deferred tax assets (net) |
0.000 |
|
Long-term Loan and Advances |
1190.200 |
|
Other Non-current
assets |
0.000 |
|
Sub total-Non-Current
Assets |
14879.300 |
|
Current
assets |
|
|
Investment |
5018.800 |
|
Inventories |
8932.700 |
|
Trade receivables |
7916.300 |
|
Cash and cash
equivalents |
357.700 |
|
Short-term loans and
advances |
673.700 |
|
Other current assets |
61.100 |
|
Sub
total-Current Assets |
22960.300 |
|
TOTAL-
ASSETS |
37839.600 |
Note :
- Ther above audited results for the quarter and year ended 31.03.2014 as reviewed by the Audit Committee, were considered and approved by the Board of Director as its Meeting held on 24.05.2014.
- The company is primarily engaged in the manufacture of Active Pharmaceutical Ingredients and Intermediates. Accordingly there are no reportable segment as per the Accounting Standard 17 noticed under the companies act, 1956.
- While there was a forex gain for the year
|
Particulars |
Quarter Ended |
Year Ended |
|
|
|
31.03.2014 |
31.12.2013 |
31.03.2014 |
|
|
Audited |
Unaudited |
Audited |
|
Forex Gain / (Loss) |
(180.023) |
(53.404) |
504.179 |
Forex gain has been included in Other Income and forex loss has been included in Other Expenses.
- Figures for the previous
year/periods have also been regrouped or recasted, wherever necessary to confirm
to current year’s classification.
- Figures for the last quarter an=re
balancing figure between audited figure inrespect of the full financial
year up to 31.03.2014 and the unaudited published year to date figures up to
31.12.2013, being the date of the third quarter of the financial year
which was subject to limit review.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10024113 |
28/10/2006 |
209,000,000.00 |
The
Bank Of Nova Scotia |
6-3-346/1,
Road # 1, Banjara Hills, Hyderabad, Andhra Pradesh - 500034, India |
A06138333 |
|
2 |
90138352 |
17/06/2002 |
150,000,000.00 |
UTI Bank
Limited |
6-3-346/1,
Road # 1, Banjara Hills, Hyderabad, Andhra Pradesh - 500034, India |
- |
|
3 |
90138306 |
12/07/2002 * |
100,000,000.00 |
UTI
Bank Limited |
6-3-346/1,
Road # 1, Banjara Hills, Hyderabad, Andhra Pradesh - 500034, India |
- |
|
4 |
90138250 |
24/05/2001 * |
50,000,000.00 |
Industrial
Development Bank Of India (IDBI) |
IDBI
Tower; Wtc Complex, Cuffe Purade, Mumbai, Maharashtra - 400005, India |
- |
|
5 |
90138195 |
06/12/2000 * |
50,000,000.00 |
Industrial
Development Bank Of India |
IDBI
Tower; Wtc Complex, Cuffe Purade, Mumbai, Maharashtra - 400005, India |
- |
|
6 |
90138180 |
06/02/2000 |
50,000,000.00 |
Industrial
Development Bank Of India |
IDBI
Tower; Wtc Complex, Cuffe Purade, Mumbai, Maharashtra - 400005, India |
- |
|
7 |
90138171 |
16/12/2000 * |
40,000,000.00 |
IDBI
BANK LIMITED |
Mahavir
House, Basheer Bagh Square, Hyderabad, Andhra Pradesh - 500029, India |
- |
|
8 |
90138083 |
06/10/1999 * |
630,000,000.00 |
State
Bank of Hyderabad |
IFB;
Panjagutta, Hyderabad, Andhra Pradesh - 500082, India |
- |
|
9 |
90137956 |
08/12/1998 * |
672,200,000.00 |
State
Bank of Hyderabad |
IFB;
Panjagutta, Hyderabad, Andhra Pradesh - 500082, India |
- |
|
10 |
90136781 |
17/10/1996 * |
552,400,000.00 |
State
Bank of Hyderabad |
IFB;
Panjagutta, Hyderabad, Andhra Pradesh - 500082, India |
- |
|
11 |
90137918 |
19/11/2003 * |
552,400,000.00 |
State
Bank of Hyderabad |
IFB;
Panjagutta, Hyderabad, Andhra Pradesh - 500082, India |
- |
|
12 |
90137910 |
03/10/1996 * |
102,600,000.00 |
The
Lakshmi Vilas Bank Limited |
Kukatpally
Branch, Hyderabad, Andhra Pradesh, India |
- |
|
13 |
90137909 |
01/10/1996 * |
341,800,000.00 |
State
Bank of Hyderabad |
Industrial
Finance Branch, Panjagutta, Hyderabad, |
- |
|
14 |
90137905 |
17/10/1996 * |
70,000,000.00 |
Industrial
Development Bank Of India |
IDBI
Tower, Cuffe Parade, Mumbai, Maharashtra - 400005, India |
- |
|
15 |
90137843 |
24/03/1997 * |
425,000,000.00 |
State
Bank of Hyderabad |
IFB;
Panjagutta, Hyderabad, Andhra Pradesh - 500082, India |
- |
|
16 |
90137810 |
20/04/2006 * |
37,500,000.00 |
The
Lakshmi Vilas Bank Limited |
Kukatpally,
Hyderabad, Andhra Pradesh - 500872, India |
- |
|
17 |
90137808 |
13/11/2006 * |
886,000,000.00 |
STATE
BANK OF INDIA |
Overseas
Branch, 5-9-300, Abids, Hyderabad, Andhra Pradesh - 500001, India |
- |
|
18 |
90137793 |
05/01/1996 * |
50,000,000.00 |
Industrial
Reconstruction Bank Of India |
19;
Netaji Subhas Road, Culcutta, West Bengal - 700001, India |
- |
|
19 |
90137772 |
20/08/2001 * |
220,000,000.00 |
State
Bank of Hyderabad |
IFB
Panjagutta, Hyderabad, Andhra Pradesh - 500082, India |
- |
|
20 |
90137762 |
24/11/2006 * |
1,095,000,000.00 |
State
Bank Of Hyderabad |
Industrial
Finance Branch, "Topaz" Building, Amru Tha Hills, Punjagutta,
Hyderabad, Andhra Pradesh- 500082, India |
- |
|
21 |
90137748 |
20/04/2006 * |
132,000,000.00 |
State
Bank of Hyderabad |
Industrial
Finance Branch, "Topaz" Building, Amru Tha Hills, Punjagutta, Hyderabad,
Andhra Pradesh- 500082, India |
- |
|
22 |
90137718 |
14/11/1995 * |
219,500,000.00 |
Industrial
Development Bank Of India |
Idbi
Tower, Cuffe Purade, Mumbai, Maharashtra - 400005, India |
- |
|
23 |
90137702 |
31/03/2005 * |
37,500,000.00 |
The
Lakshmi Vilas Bank Limited |
Kutapally,
Hyderabad, Andhra Pradesh - 500872, India |
- |
FIXED ASSETS:
·
Land and Development
·
Buildings
·
Plant and Machinery
·
Laboratory Equipment
·
Furniture and Fixtures
·
Data Processing Equipment
·
Vehicles
PRESS RELEASE
DIVI'S LABS EARNS A PAT OF RS.2050.000
MILLIONS 42 OF FY 14
Divi's
Laboratories has earned a Profit after Tax (PAT) of Rs.2050.000 Millions on a
total income of Rs.5670.000 Millions, on a stand-alone basis, for the quarter ended
3oth September, 2013. For the corresponding quarter of the last year, the
company earned a PAT of Rs.1180.000 Millions on a total income of Rs.4740.000
Millions.
Forex gain for the
current quarter amounted to Rs.310.000 Millions as against a loss of Rs.210.000
Millions during the corresponding quarter of last year.
For the half year
ended 30th September, 2013, the company earned a total income of Rs.10840.000
Millions as compared to an income of Rs.9430.000 Millions during the previous
half-year. PAT for the current half year came to Rs.3800.000 Millions as
against Rs.2850.000 Millions for the previous half-year.
The company has
capitalized fixed assets aggregating to Rs.1200.000 Millions during the current
half-year
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.59.34 |
|
UK Pound |
1 |
Rs.99.18 |
|
Euro |
1 |
Rs.80.76 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done
by : |
RAS |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
72 |
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 |
||
1. Summary Information
|
Reference
# |
135-102403-06-020(20140527990) |
Country |
India |
|
Company Name |
DIVI’S LABORATORIES LIMITED |
Principal Name 1 |
Dr. Murali K Divi |
|
Status |
Good |
Principal Name 2 |
Mr. Madhusudana Rao Divi |
|
Our Reference # |
269536 |
Registration # |
01-011854 |
|
Street Address |
7-1-77/E/1/303, Dharam
Karan Road, Amarpret, Hyderabad-500016, Andhra Pradesh |
||
|
Established Date |
12.10.1990 |
SIC Code |
-- |
|
Telephone# |
91-40-23731318/ 23731760 / 61 / 23786300 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-40-23733242 / 23786460 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Active Pharma Ingredients (APIs) and Intermediates |
|
|
# of employees |
100
(Approximately) |
Product Name 2 |
-- |
|
Paid up capital |
Rs.265,469,000/- |
Product Name 3 |
-- |
|
Shareholders |
Shareholding of Promoter and Promoter Group
– 52.08% Public
shareholding -47.92% |
Banking |
|
|
Public Limited Corp. |
Yes |
Business Period |
24 Years |
|
IPO |
Yes |
International Ins. |
- |
|
Public Enterprise |
Yes |
Rating |
Aa
(72) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiaries |
USA |
Divis Laboratories (USA) Inc. , New Jersey, |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
7674,217,000 |
Current Liabilities |
2876,608,000 |
|
Inventories |
8059,484,000 |
Long-term Liabilities |
326,149,000 |
|
Fixed Assets |
9084,990,000 |
Other Liabilities |
3223,594,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
6,426,351,000 |
|
Invest& other Assets |
7140,441,000 |
Retained Earnings |
25267,312,000 |
|
|
|
Net Worth |
25532,781,000 |
|
Total Assets |
31,959,132,000 |
Total Liab. & Equity |
31,959,132,000 |
|
Total Assets (Previous Year) |
28,029,650,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Sales |
21,288,899,000 |
Net Profit |
6,114,212,000 |
|
Sales(Previous yr) |
18,449,281,000 |
Net Profit(Prev.yr) |
5,459,693,000 |
MIRA INFORM REPORT
|
Report Date : |
05.06.2014 |
|
|
|
|
Tel. No.: |
91-40-23731318 |
|
Website : |
IDENTIFICATION DETAILS
|
Name : |
DIVI’S LABORATORIES LIMITED |
|
|
|
|
Registered
Office : |
7-1-77/E/1/303, Dharam Karan Road, Amarpret, Hyderabad-500016, Andhra
Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
12.10.1990 |
|
|
|
|
Com. Reg. No.: |
01-011854 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.265.469 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24110AP1990PLC011854 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDD00549D |
|
|
|
|
Legal Form : |
A Public Limited
Liability Company. The Company’s
Shares are Listed on the Stock Exchanges. |
|
|
|
|
Line of Business
: |
The company is engaged in manufacturing and sale of active
pharma ingredients and intermediates. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (72) |
|
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 102000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and a reputed company having fine track record.
Financial position of the company seems to be sound. Fundamentals are strong
and healthy. Directors are reported to be an experienced and respectable
businessmen. Trade relations are reported as fair. Business is active.
Payments are reported to be regular and as per commitments. The company can be considered normal 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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1 million
Indian tourists in 2012), Thailand (one million), the United Arab Emirates
().98 million) and Malaysia ().82 million) emerged as the preferred holidays
hotspots for Indians. The total figure is expected to increase to 1.93 million
by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = AA+ |
|
Rating Explanation |
High credit quality and low credit risk |
|
Date |
07.10.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk |
|
Date |
07.10.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED
Management Non-Cooperative (Tel No.: 91-40-23731318)
LOCATIONS
|
Registered Office : |
7-1-77/E/1/303, Dharam Karan Road, Amarpret, Hyderabad – 500016,
Andhra Pradesh, India |
|
Tel. No.: |
91-40-23731318/ 23731760 / 61 / 23786300 |
|
Fax No.: |
91-40-23733242 / 23786460 |
|
E-Mail : |
marketing@divislaboratories.com chemicals@divislaboratories.com |
|
Website : |
|
|
|
|
|
Factory 1 : |
Choutuppal Unit Lingojigudem Village, Choutuppal Mandal, Nalgonda – 508252, Andhra
Pradesh, India |
|
Tel. No.: |
91-8694-272092, 272260 |
|
Fax No.: |
91-8694-272685 |
|
|
|
|
Factory 2 : |
100% Export Oriented
Unit – Chippada / Divi’s Pharma SEZ / DSN SEZ Unit Chippada Village, Bheemunipatnam Mandal, Visakhapatnam-531162, Andhra
Pradesh, India |
|
Tel. No.: |
91-8922-245166 |
|
Fax No.: |
91-8922-245165 |
|
|
|
|
R
and D Centers: |
Located At:
|
DIRECTORS
As on 31.03.2013
|
Name : |
Dr. Murali K Divi |
|
Designation : |
Chairman and Managing Director |
|
Date of Birth / Age : |
62 Years |
|
Qualification : |
M. Pharm. Ph.D. |
|
|
|
|
Name : |
Mr. N V Ramana |
|
Designation : |
Executive Director |
|
Date of Birth / Age : |
55 Years |
|
Qualification : |
B.Sc. (Chem) |
|
|
|
|
Name : |
Mr. Madhusudana Rao Divi |
|
Designation : |
Director (Projects) |
|
Date of Birth / Age : |
14.01.1944 |
|
Qualification : |
Post-graduate degree in Structural Engineering from Mysore
University, Karnataka |
|
Date of Appointment : |
14.10.1994 |
|
|
|
|
Name : |
Mr. Kiran S. Divi |
|
Designation : |
President Director |
|
Date of Birth / Age : |
37 Years |
|
Qualification : |
B. Pharm. |
|
|
|
|
Name : |
Dr. K. Satyanarayana |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. S. Vasudev |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. G. Venkat Rao* |
|
Designation : |
Director |
|
|
|
|
Name : |
Prof. C. Ayyanna |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr. G. Suresh Kumar |
|
Designation : |
Director |
|
Date of Birth / Age : |
22.01.1951 |
|
Qualification : |
|
|
Date of Appointment : |
10.03.2001 |
|
|
|
|
Name : |
Mr. R. Ranga Rao** |
|
Designation : |
Director |
|
Date of Birth / Age : |
10.07.1951 |
|
Qualification : |
Post-graduate degree in Pharmacy from College of Pharmacy,
Manipal, Karnataka. |
|
Date of Appointment : |
03.11.2012 |
*Ceased to be a Director w.e.f.
03.11.2012
**Appointed as an additional Director w.e.f.
03.11.2012
KEY EXECUTIVES
|
Name : |
Mr. P.V. Lakshmi Rajani |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Mr. L. Kishore Babu |
|
Designation : |
Chief Financial Officer |
SHAREHOLDING PATTERN
As on 31.03.2014
|
Names of Shareholders |
No.
of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
65080616 |
49.03 |
|
|
4000000 |
3.01 |
|
|
69080616 |
52.04 |
|
|
|
|
|
|
50000 |
0.04 |
|
|
50000 |
0.04 |
|
Total
shareholding of Promoter and Promoter Group (A) |
69130616 |
52.08 |
|
(B)
Public Shareholding |
|
|
|
|
|
|
|
|
15862213 |
11.95 |
|
|
172522 |
0.13 |
|
|
24163231 |
18.20 |
|
|
40197966 |
30.28 |
|
|
|
|
|
|
12234045 |
9.22 |
|
|
|
|
|
|
8192076 |
6.17 |
|
|
945607 |
0.71 |
|
|
2033980 |
1.53 |
|
|
903780 |
0.68 |
|
|
666470 |
0.50 |
|
|
143753 |
0.11 |
|
|
319977 |
0.24 |
|
|
23405708 |
17.63 |
|
Total
Public shareholding (B) |
63603674 |
47.92 |
|
Total
(A)+(B) |
132734290 |
100.00 |
|
(C)
Shares held by Custodians and against which Depository Receipts have been
issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
132734290 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in manufacturing and sale of active
pharma ingredients and intermediates. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Installed Capacity |
Actual Production |
|
Active Pharma Ingredients and Intermediates |
MTs |
4500 |
2595.39 |
Note:
Net of captive consumption of 6421.08 MTs
(Previous year 3525.88 MTs)
GENERAL INFORMATION
|
No. of Employees : |
100 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
Bank of Nova Scotia |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
Long Term
Borrowings Nature of Security :
Short Term
Borrowings Working Capital Loans from banks (Secured) : 4.
Nature of Security : Secured by hypothecation of
stocks, book debts and receivables and further secured by second charge on
fixed assets of the company) 5.
There are no defaults in repayment of loans and
interest 6.
The above loans carry interest @ 11% to 12.50%
p.a. Overdraft against Fixed Deposits from banks
(Secured) : 4.
Nature of Security : Secured by hypothecation of
Fixed Deposits of the company 5.
There are no defaults in repayment of loans and
interest 6.
The above loans carry interest @ 9.50% to 9.75%
p.a. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P.V.R.K. Nageswara Rao and Company Chartered Accountants |
|
Address : |
109, Metro Residency, 6-3-1247, Rajbhavan Road, Hyderabad – 500 082,
Andhra Pradesh, India |
|
|
|
|
Cost Auditors : |
|
|
Name : |
EVS and
Associates Cost Accountants |
|
Address : |
206, Raghava Ratna
Towers, Chirag Ali Lane, Hyderabad – 500 001, Andhra Pradesh, India |
|
|
|
|
Wholly Owned
Subsidiary |
|
|
|
|
|
Company In Which
Key Management Personnel have Significant Influence : |
|
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000000 |
Equity Shares |
Rs.2/- each |
Rs.300.000 Millions |
Issued Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
132734290 |
Equity Shares |
Rs.2/- each |
Rs.265.469 Millions |
Reconciliation of the number of shares
|
Equity Shares |
Number
of Shares |
|
Shares outstanding at the beginning of the year |
132734290 |
|
Shares issued during the year |
- |
|
Shares
outstanding at the end of the year |
132734290 |
Details of equity shares held by
shareholders holding more than 5% shares:
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Promoters Group : |
|
|
|
Dr.Murali
Krishna Prasad Divi |
7783500 |
5.86% |
|
Satchandra Kiran
Divi |
23000000 |
17.33% |
|
Swarnalatha Divi |
7000000 |
2.27% |
|
Nilima Motaparti |
27000000 |
20.34% |
|
Other Than Promoters Group : |
|
|
|
Reliance Capital
Trustee Company Limited |
10073608 |
7.59% |
Aggregate number of bonus shares issued during the period
of five years immediately preceding the reporting date
On 2nd August
2009, the company issued 64847975 equity shares of Rs.2/- each as fully paid
bonus shares by capitalization of general reserve and other free reserves.
Terms/rights attached to equity shares:
The company has
only one class of equity shares having a par value of Rs.2/- per share. Each
holder of equity shares is entitled to one vote per share. The company declares
and pays dividend in Indian rupees. The dividend proposed by the Board of
Directors is subject to the approval of the shareholders in the ensuing Annual
General Meeting.
During the year
ended 31st March 2013, the amount of per share dividend recognised as
distribution to equity shareholders was Rs.15/-
In the event of
liquidation of the company, the holders of equity shares will be entitled to
receive remaining assets of the company, after distribution of all preferential
amounts. The distribution will be in proportion to the number of equity shares
held by the shareholders.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2013 |
|
III.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
265.469 |
|
(b) Reserves & Surplus |
|
|
25267.312 |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
25532.781 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
21.004 |
|
(b) Deferred tax liabilities (Net) |
|
|
865.521 |
|
(c) Other long term
liabilities |
|
|
0.000 |
|
(d) long-term
provisions |
|
|
23.909 |
|
Total Non-current
Liabilities (3) |
|
|
910.434 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
|
305.145 |
|
(b) Trade
payables |
|
|
1583.073 |
|
(c) Other
current liabilities |
|
|
1293.535 |
|
(d) Short-term
provisions |
|
|
2334.164 |
|
Total Current
Liabilities (4) |
|
|
5515.917 |
|
|
|
|
|
|
TOTAL |
|
|
31959.132 |
|
|
|
|
|
|
IV.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
|
|
9084.990 |
|
(ii)
Intangible Assets |
|
|
0.000 |
|
(iii)
Capital work-in-progress |
|
|
3034.144 |
|
(iv)
Intangible assets under development |
|
|
0.000 |
|
(b)
Expenditure during construction period pending capitalization |
|
|
0.000 |
|
(c) Non-current Investments |
|
|
28.161 |
|
(d) Deferred tax assets (net) |
|
|
0.000 |
|
(e) Long-term Loan and Advances |
|
|
1072.705 |
|
(f) Other
Non-current assets |
|
|
0.000 |
|
Total Non-Current
Assets |
|
|
13220.000 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
|
4078.136 |
|
(b)
Inventories |
|
|
8059.484 |
|
(c) Trade
receivables |
|
|
5589.006 |
|
(d) Cash
and cash equivalents |
|
|
346.828 |
|
(e) Short-term
loans and advances |
|
|
598.911 |
|
(f) Other
current assets |
|
|
66.767 |
|
Total
Current Assets |
|
|
18739.132 |
|
|
|
|
|
|
TOTAL |
|
|
31959.132 |
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
265.469 |
265.190 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
21482.487 |
18015.265 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
21747.956 |
18280.455 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
502.037 |
158.033 |
|
|
2] Unsecured Loans |
|
25.569 |
27.423 |
|
|
TOTAL BORROWING |
|
527.606 |
185.456 |
|
|
DEFERRED TAX LIABILITIES |
|
672.872 |
549.119 |
|
|
|
|
|
|
|
|
TOTAL |
|
22948.434 |
19015.030 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
7381.949 |
5897.286 |
|
|
Capital work-in-progress |
|
1815.778 |
1037.158 |
|
|
Unallocated
expenditure pending capitalisation |
|
4.106 |
6.199 |
|
|
Advances for
Capital Works |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
4798.551 |
5284.543 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
6509.685
|
5430.655 |
|
|
Sundry Debtors |
|
5344.709
|
3927.801 |
|
|
Cash & Bank Balances |
|
218.224
|
127.998 |
|
|
Other Current Assets |
|
68.467
|
51.243 |
|
|
Loans & Advances |
|
1888.181
|
1318.442 |
|
Total
Current Assets |
|
14029.266
|
10856.139 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
0.000
|
0.000 |
|
|
Other Current Liabilities |
|
2982.614
|
1707.427 |
|
|
Provisions |
|
2098.602
|
2358.868 |
|
Total
Current Liabilities |
|
5081.216
|
4066.295 |
|
|
Net Current Assets |
|
8948.050
|
6789.844 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
22948.434 |
19015.030 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
21288.899 |
18449.281 |
13148.695 |
|
|
|
Other Income |
485.125 |
657.607 |
292.253 |
|
|
|
TOTAL (A) |
21774.024 |
19106.888 |
13440.948 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Raw
materials consumed |
8978.981 |
7686.799 |
4866.797 |
|
|
|
Purchases of
Stock-in-trade |
0.943 |
1.006 |
0.000 |
|
|
|
Changes in
inventories of finished goods, work-in progress and Stock-in-trade |
(1003.310) |
(106.566) |
345.229 |
|
|
|
Employee
benefits expense |
1912.018 |
1451.562 |
1120.556 |
|
|
|
Research and
development expenses |
239.987 |
188.593 |
159.809 |
|
|
|
Other expenses |
2942.835 |
2279.200 |
1609.380 |
|
|
|
TOTAL (B) |
13071.454 |
11500.594 |
8101.771 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
8702.570 |
7606.294 |
5339.177 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
17.765 |
37.432 |
15.165 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
8684.805 |
7568.862 |
5324.012 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
768.956 |
620.311 |
533.515 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
7915.849 |
6948.551 |
4790.497 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1801.637 |
1488.858 |
434.836 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
6114.212 |
5459.693 |
4355.661 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
16414.995 |
14211.413 |
12146.806 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
1991.014 |
1725.546 |
1325.951 |
|
|
|
Provision for Corporate Dividend Tax |
338.373 |
279.927 |
215.103 |
|
|
|
Dividend of earlier year |
0.000 |
0.549 |
0.000 |
|
|
|
Corporate Dividend Tax of earlier year |
0.000 |
0.089 |
0.000 |
|
|
|
Amount transferred to General Reserve |
1500.000 |
1250.000 |
750.000 |
|
|
BALANCE CARRIED
TO THE B/S |
18699.820 |
16414.995 |
14211.413 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
18601.633 |
16068.838 |
11811.894 |
|
|
|
Contract Research Fee |
22.439 |
58.958 |
23.840 |
|
|
|
Job work charges |
165.304 |
23.093 |
0.000 |
|
|
TOTAL EARNINGS |
18789.376 |
16150.889 |
11835.734 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
4479.898 |
3486.414 |
2369.903 |
|
|
|
Packing Material |
11.166 |
17.218 |
6.724 |
|
|
|
Lab Chemicals |
20.301 |
11.819 |
6.123 |
|
|
|
Components and Spare parts |
7.575 |
7.450 |
17.929 |
|
|
|
Capital goods |
162.425 |
115.536 |
122.366 |
|
|
TOTAL IMPORTS |
4681.365 |
3638.437 |
2523.045 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) [Basic] |
46.06 |
41.15 |
32.90 |
|
|
|
Earnings Per
Share (Rs.) [Diluted] |
46.06 |
41.15 |
32.88 |
|
|
|
|
|
|
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
28.08 |
28.57
|
35.64 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
37.18 |
34.66
|
36.43 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
86.50 |
49.53
|
44.13 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31 |
0.32
|
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.01 |
0.26
|
0.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.40 |
2.76
|
2.67 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
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 |
13,148.695 |
18,449.281 |
21,288.899 |
|
|
|
40.313 |
15.391 |
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
|
13,148.695 |
18,449.281 |
21,288.899 |
|
Profit |
4,355.661 |
5,459.693 |
6,114.212 |
|
|
33.13% |
29.59% |
28.72% |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOAN:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Deferred Payment
Liabilities |
|
|
|
Deferred Sales Tax Credit |
25.569 |
27.424 |
|
Less: Current maturities of long-term debt |
(4.565) |
(1.855) |
|
Total |
21.004 |
25.569 |
Notes:
Term of Repayment:
Period: 14 Years
Number of Installments due: 5
Rate of Interest: Interest free
The above liability due thereon has been paid upto date and there are no
continuing defaults.
INDUSTRY OUTLOOK
Pharmaceutical
market research firm, IMS Health forecast that the global spending on medicines
annually will grow from about $956 bn in 2011 to nearly $1.2 trillion by the
year 2016, as the pharmerging markets, biologics and generics contribute a
greater shape of spending. Developed markets will decline to 57% of global
spending due to patent expiries, slower brand spending growth and increased
cost containment actions by payers. In next five years, pharmerging markets
share of spending will increase by 10% points to 30% of global spending.
IMS Health
predicts that North and South America, Europe and Japan will continue to
account for a full 85% of the Global pharma market well into the 21st century.
The generic drug
market is gaining increasing ground over branded pharmaceuticals, with the FDA
reporting that generics account for more than 70% of prescription drugs in the
US, according to BCC Research report. The global generic drug market should
grow at a CAGR of 15% over 5 years. While US market for generic drugs is
forecast to show more than 10% CAGR, reaching $54, Japan is likely to see over
12% growth to exceed $9.5 billion in 2014.
With strong
presence both within the patented and generic active ingredient segments, your
company will continue to support its customers by offering cost competitive and
faster delivery structure.
FINANCIAL RESULTS
The company has
achieved a sales growth of 15% for the year on the back of a decent growth of
41% achieved during the last year.
They made a provision
of Rs.1609.000 Millions towards Income tax this year (including MAT credit
utilization of Rs.79.000 Millions). Provision for last year amounted to
Rs.1365.100 Millions including a MAT credit utilization of Rs.3.68 Millions. An
amount of Rs.192.600 Millions has been provided towards Deferred Tax Liability
during the year as against Rs.123.800 Millions during the previous year.
PAT amounted to
Rs.6114.200 Millions for the year, reflecting a growth of 12%. Earnings Per
Share of Rs.2/- each works out to Rs.460.600 for the year as against Rs.411.500
last year.
AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED
31.03.2014
(Rs. In Millions)
|
Sr. No. |
Particular |
Quarter Ended |
Year Ended |
|
|
|
|
31.03.2014 |
31.12.2013 |
31.03.2014 |
|
|
|
audited
|
unaudited
|
audited
|
|
|
|
|
|
|
|
1. |
Net Sales/Income
from Operations |
7380.100 |
6874.100 |
25071.800 |
|
|
Other Operating
Income |
25.900 |
18.600 |
67.900 |
|
|
Total Income From Operations (Net) |
7406.000 |
6892.700 |
25139.700 |
|
|
|
|
|
|
|
2. |
Expenditure |
|
|
|
|
|
Cost
of materials consumed |
2217.800 |
2447.300 |
10318.900 |
|
|
Purchase
of stock in trade |
0.000 |
0.000 |
0.000 |
|
|
Changes
in inventories of finished goods, work in progress and stock in trade |
824.700 |
115.100 |
(1137.500) |
|
|
Employee
benefits expenses |
591.500 |
571.000 |
2254.300 |
|
|
Depreciation
and amortization expenses |
253.900 |
232.700 |
920.600 |
|
|
Other
expenses |
1153.800 |
881.400 |
3515.400 |
|
|
Total Expenses |
5041.700 |
4247.500 |
15871.700 |
|
|
|
|
|
|
|
3. |
Profit
From Operations before Other Income, Interest and Exceptional Items (1-2) |
2364.300 |
2645.200 |
9268.000 |
|
|
|
|
|
|
|
4. |
Other
Income |
93.800 |
79.100 |
839.000 |
|
|
|
|
|
|
|
5. |
Profit
Before Interest and Exceptional Items (3+4) |
2458.100 |
2724.300 |
10107.000 |
|
|
|
|
|
|
|
6. |
Finance
Cost |
9.100 |
3.500 |
20.600 |
|
|
|
|
|
|
|
7. |
Profit
After Interest but before Exceptional Items (5-6) |
2449.000 |
2720.800 |
10086.400 |
|
|
|
|
|
|
|
8. |
Exceptional
Items |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
9. |
Profit
from Ordinary Activities before Tax (7+8) |
2449.000 |
2720.800 |
10086.400 |
|
|
|
|
|
|
|
10. |
Tax Expense |
518.400 |
530.600 |
2169.200 |
|
|
|
|
|
|
|
11. |
Net
Profit from Ordinary Activities after Tax (9-10) |
1930.600 |
2190.200 |
7917.200 |
|
|
|
|
|
|
|
12. |
Extraordinary
Item (net of expense) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
13. |
Net
Profit for the period (11-12) |
1930.600 |
2190.200 |
7917.200 |
|
|
|
|
|
|
|
14. |
Share
of profit/(loss) of Associates |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
15. |
Minority
interest |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
16. |
Net
Profit / (Loss) After tax |
1930.600 |
2190.200 |
7917.200 |
|
|
|
|
|
|
|
|
Paid-up
Equity Share Capital |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Reserve
Excluding revaluation reserves |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
17. |
Basic and Diluted Earning Per
Share (EPS) (Rs.)-Not Annualised |
|
|
|
|
|
a)
Basic and diluted EPS before extraordinary items |
14.54 |
16.50 |
59.65 |
|
|
b)
Basic and diluted EPS after extraordinary items |
14.54 |
16.50 |
59.65 |
|
|
|
|
|
|
|
17. |
Public Shareholding |
|
|
|
|
|
-Number
of Shares |
63603674 |
63556194 |
63603674 |
|
|
-
Percentage of Shareholding |
47.92% |
47.88% |
47.92% |
|
|
|
|
|
|
|
18. |
Promoters and Promoter Group
Shareholding |
|
|
|
|
|
a) Pledged/Encumbered |
|
|
|
|
|
-
Number of Shares |
Nil |
Nil |
Nil |
|
|
-
Percentage of Shares (as a % of the Total Shareholding of promoter and
promoter group) |
Nil |
Nil |
Nil |
|
|
- Percentage
of Shares (as a % of the Total Share Capital of the Company) |
Nil |
Nil |
Nil |
|
|
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
|
-
Number of Shares |
69130616 |
69178096 |
69130616 |
|
|
- Percentage
of Shares (as a % of the Total Shareholding of Promoter and Promoter Group) |
100% |
100% |
100% |
|
|
-
Percentage of Shares (as a % of the Total Share Capital of the Company) |
52.08% |
52.12% |
52.08% |
|
Investor
complaints |
Quarter Ended 31.03.2014 |
|
pending at the beginning of the quarter |
Nil |
|
received during the quarter |
28 |
|
disposed of during the quarter |
28 |
|
unresolved at the end of the quarter |
Nil |
STATEMENTS ASSETS
AND LIABILITIES
|
PARTICULARS |
31.03.2014 |
|
EQUITY AND LIABILITIES |
|
|
Shareholders'
funds |
|
|
Share Capital |
265.500 |
|
Reserves & Surplus |
30078.700 |
|
Sub total-
Shareholders' funds |
30344.200 |
|
Non-current
liabilities |
|
|
Long-term borrowings |
15.500 |
|
Deferred tax liabilities (Net) |
1216.700 |
|
Other long term liabilities |
0.000 |
|
Long-term
provisions |
31.800 |
|
Sub total-Non-Current Liabilities |
1264.000 |
|
Current liabilities |
|
|
Short term borrowings |
163.200 |
|
Trade payables |
1486.900 |
|
Other current
liabilities |
1465.500 |
|
Short-term
provisions |
3115.800 |
|
Sub total-Current
Liabilities |
6231.400 |
|
TOTAL EQUITY AND
LIABILITIES |
37839.600 |
|
|
|
|
ASSETS |
|
|
Non-current assets |
|
|
Fixed assets |
|
|
Fixed Assets |
13660.900 |
|
Goodwill
on consolidation |
0.000 |
|
Non-current Investments |
28.200 |
|
Deferred tax assets (net) |
0.000 |
|
Long-term Loan and Advances |
1190.200 |
|
Other Non-current
assets |
0.000 |
|
Sub total-Non-Current
Assets |
14879.300 |
|
Current
assets |
|
|
Investment |
5018.800 |
|
Inventories |
8932.700 |
|
Trade receivables |
7916.300 |
|
Cash and cash
equivalents |
357.700 |
|
Short-term loans and
advances |
673.700 |
|
Other current assets |
61.100 |
|
Sub
total-Current Assets |
22960.300 |
|
TOTAL-
ASSETS |
37839.600 |
Note :
- Ther above audited results for the quarter and year ended 31.03.2014 as reviewed by the Audit Committee, were considered and approved by the Board of Director as its Meeting held on 24.05.2014.
- The company is primarily engaged in the manufacture of Active Pharmaceutical Ingredients and Intermediates. Accordingly there are no reportable segment as per the Accounting Standard 17 noticed under the companies act, 1956.
- While there was a forex gain for the year
|
Particulars |
Quarter Ended |
Year Ended |
|
|
|
31.03.2014 |
31.12.2013 |
31.03.2014 |
|
|
Audited |
Unaudited |
Audited |
|
Forex Gain / (Loss) |
(180.023) |
(53.404) |
504.179 |
Forex gain has been included in Other Income and forex loss has been included in Other Expenses.
- Figures for the previous
year/periods have also been regrouped or recasted, wherever necessary to confirm
to current year’s classification.
- Figures for the last quarter an=re
balancing figure between audited figure inrespect of the full financial
year up to 31.03.2014 and the unaudited published year to date figures up
to 31.12.2013, being the date of the third quarter of the financial year
which was subject to limit review.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10024113 |
28/10/2006 |
209,000,000.00 |
The
Bank Of Nova Scotia |
6-3-346/1,
Road # 1, Banjara Hills, Hyderabad, Andhra Pradesh - 500034, India |
A06138333 |
|
2 |
90138352 |
17/06/2002 |
150,000,000.00 |
UTI
Bank Limited |
6-3-346/1,
Road # 1, Banjara Hills, Hyderabad, Andhra Pradesh - 500034, India |
- |
|
3 |
90138306 |
12/07/2002 * |
100,000,000.00 |
UTI
Bank Limited |
6-3-346/1,
Road # 1, Banjara Hills, Hyderabad, Andhra Pradesh - 500034, India |
- |
|
4 |
90138250 |
24/05/2001 * |
50,000,000.00 |
Industrial
Development Bank Of India (IDBI) |
IDBI
Tower; Wtc Complex, Cuffe Purade, Mumbai, Maharashtra - 400005, India |
- |
|
5 |
90138195 |
06/12/2000 * |
50,000,000.00 |
Industrial
Development Bank Of India |
IDBI
Tower; Wtc Complex, Cuffe Purade, Mumbai, Maharashtra - 400005, India |
- |
|
6 |
90138180 |
06/02/2000 |
50,000,000.00 |
Industrial
Development Bank Of India |
IDBI
Tower; Wtc Complex, Cuffe Purade, Mumbai, Maharashtra - 400005, India |
- |
|
7 |
90138171 |
16/12/2000 * |
40,000,000.00 |
IDBI
BANK LIMITED |
Mahavir
House, Basheer Bagh Square, Hyderabad, Andhra Pradesh - 500029, India |
- |
|
8 |
90138083 |
06/10/1999 * |
630,000,000.00 |
State
Bank of Hyderabad |
IFB;
Panjagutta, Hyderabad, Andhra Pradesh - 500082, India |
- |
|
9 |
90137956 |
08/12/1998 * |
672,200,000.00 |
State
Bank of Hyderabad |
IFB;
Panjagutta, Hyderabad, Andhra Pradesh - 500082, India |
- |
|
10 |
90136781 |
17/10/1996 * |
552,400,000.00 |
State
Bank of Hyderabad |
IFB;
Panjagutta, Hyderabad, Andhra Pradesh - 500082, India |
- |
|
11 |
90137918 |
19/11/2003 * |
552,400,000.00 |
State
Bank of Hyderabad |
IFB;
Panjagutta, Hyderabad, Andhra Pradesh - 500082, India |
- |
|
12 |
90137910 |
03/10/1996 * |
102,600,000.00 |
The
Lakshmi Vilas Bank Limited |
Kukatpally
Branch, Hyderabad, Andhra Pradesh, India |
- |
|
13 |
90137909 |
01/10/1996 * |
341,800,000.00 |
State
Bank of Hyderabad |
Industrial
Finance Branch, Panjagutta, Hyderabad, |
- |
|
14 |
90137905 |
17/10/1996 * |
70,000,000.00 |
Industrial
Development Bank Of India |
IDBI
Tower, Cuffe Parade, Mumbai, Maharashtra - 400005, India |
- |
|
15 |
90137843 |
24/03/1997 * |
425,000,000.00 |
State
Bank of Hyderabad |
IFB;
Panjagutta, Hyderabad, Andhra Pradesh - 500082, India |
- |
|
16 |
90137810 |
20/04/2006 * |
37,500,000.00 |
The
Lakshmi Vilas Bank Limited |
Kukatpally,
Hyderabad, Andhra Pradesh - 500872, India |
- |
|
17 |
90137808 |
13/11/2006 * |
886,000,000.00 |
STATE
BANK OF INDIA |
Overseas
Branch, 5-9-300, Abids, Hyderabad, Andhra Pradesh - 500001, India |
- |
|
18 |
90137793 |
05/01/1996 * |
50,000,000.00 |
Industrial
Reconstruction Bank Of India |
19;
Netaji Subhas Road, Culcutta, West Bengal - 700001, India |
- |
|
19 |
90137772 |
20/08/2001 * |
220,000,000.00 |
State
Bank of Hyderabad |
IFB
Panjagutta, Hyderabad, Andhra Pradesh - 500082, India |
- |
|
20 |
90137762 |
24/11/2006 * |
1,095,000,000.00 |
State
Bank Of Hyderabad |
Industrial
Finance Branch, "Topaz" Building, Amru Tha Hills, Punjagutta,
Hyderabad, Andhra Pradesh- 500082, India |
- |
|
21 |
90137748 |
20/04/2006 * |
132,000,000.00 |
State
Bank of Hyderabad |
Industrial
Finance Branch, "Topaz" Building, Amru Tha Hills, Punjagutta,
Hyderabad, Andhra Pradesh- 500082, India |
- |
|
22 |
90137718 |
14/11/1995 * |
219,500,000.00 |
Industrial
Development Bank Of India |
Idbi
Tower, Cuffe Purade, Mumbai, Maharashtra - 400005, India |
- |
|
23 |
90137702 |
31/03/2005 * |
37,500,000.00 |
The
Lakshmi Vilas Bank Limited |
Kutapally,
Hyderabad, Andhra Pradesh - 500872, India |
- |
FIXED ASSETS:
·
Land and Development
·
Buildings
·
Plant and Machinery
·
Laboratory Equipment
·
Furniture and Fixtures
·
Data Processing Equipment
·
Vehicles
PRESS RELEASE
DIVI'S LABS EARNS A PAT OF RS.2050.000
MILLIONS 42 OF FY 14
Divi's Laboratories
has earned a Profit after Tax (PAT) of Rs.2050.000 Millions on a total income
of Rs.5670.000 Millions, on a stand-alone basis, for the quarter ended 3oth
September, 2013. For the corresponding quarter of the last year, the company
earned a PAT of Rs.1180.000 Millions on a total income of Rs.4740.000 Millions.
Forex gain for the
current quarter amounted to Rs.310.000 Millions as against a loss of Rs.210.000
Millions during the corresponding quarter of last year.
For the half year
ended 30th September, 2013, the company earned a total income of Rs.10840.000
Millions as compared to an income of Rs.9430.000 Millions during the previous
half-year. PAT for the current half year came to Rs.3800.000 Millions as
against Rs.2850.000 Millions for the previous half-year.
The company has
capitalized fixed assets aggregating to Rs.1200.000 Millions during the current
half-year
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 records 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.59.34 |
|
UK Pound |
1 |
Rs.99.18 |
|
Euro |
1 |
Rs.80.76 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done
by : |
RAS |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
72 |
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 |
||