MIRA INFORM REPORT
|
Report Date : |
19.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
ANUH PHARMA LIMITED |
|
|
|
|
Registered
Office : |
A-3, Shivsagar Estate, North Wing, Dr. Annie Besant Road, Worli,
Mumbai – 400018, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
19.02.1960 |
|
|
|
|
Com. Reg. No.: |
11-011586 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 41.760
Millions |
|
|
|
|
CIN No.: [Company Identification No.] |
L24230MH1960PLC011586 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA22404E / MUMA20261D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA4478P |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer of Bulk Drugs and Chemicals. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3020000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and reputed company having fine track
record. Financial position of the company seems to be sound. Trade relations are
reported as fair. Business is active. Payment are reported to be regular and
as per commitments. The company can be considered normal for normal business dealings at
usual trade terms and condition |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a
quarter of a century. The data was below an official estimate of 4.9 % annual
growth and compared with 4.5 % in the last fiscal year. However, the current
account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic
product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year
before.A sharp fall in gold imports due to restrictions on overseas purchases
and muted import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from
Russian Investment firm DST Global which has also invested in companies like
Facebook, Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a complaint
against the direct selling firm. This is the second time that he has been taken
into custody. A year, ago the Kerala Police had arrested Pinckney and two
company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US
governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term Cash Credit = BBB+ |
|
Rating Explanation |
Have moderate degree of safety and carry
moderate credit risk. |
|
Date |
June 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term Non-fund based = A2+ |
|
Rating Explanation |
Have strong degree of safety and carry low
credit risk. |
|
Date |
June 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE
(CONTACT NO.: 91-22-66227575)
LOCATIONS
|
Registered/ Corporate Office : |
A-3, Shivsagar Estate, North Wing, Dr. Annie Besant Road, Worli,
Mumbai – 400018, Maharashtra, India |
|
Tel. No.: |
91-22-66227575/ 55527575 |
|
Fax No.: |
91-22-55527600/ 66227500 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Anuh Pharma E-17/3 and 17/4, M.I.D.C.
Tarapur, Boisar, District Thane - 401506, Maharashtra, India |
|
Tel. No.: |
91-2525-272174/ 270281 |
|
Fax No.: |
91-2525-270281 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
Eskay Fine Chemicals Turbhe Thane Belapur Road, Navi Mumbai – 400705, Maharashtra, India |
|
Telefax
: |
91-22-27681505/ 27681708 |
|
E-Mail : |
|
|
|
|
|
R & D Division : |
A-514, TTC
Industrial Area, MIDC, Mahape, Navi Mumbai – 400701, Maharashtra, India |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Jayantilal P.
Shah |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Bipin N. Shah |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. Lalitkumar P.
Shah |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Bharat N. Shah |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Jasvantlal G. Shah |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Dilip G. Shah |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Arun L. Todarwal |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Sandeep M. Joshi |
|
Designation : |
Director |
|
Date of Birth/Age : |
52 Years |
|
Qualification : |
Graduate in
Chemistry from Bombay University and completed his M.B.A Degree from Poona,
Symbiosis Institute of Business Management |
|
Experience : |
More than 20
years |
|
|
|
|
Name : |
Mr. G.C. Sharda |
|
Designation : |
Director |
|
Date of Birth/Age : |
69 Years |
|
Qualification : |
Graduated in
Commerce having passed intermediate examination from Institute of Cost and
Works Accountant. |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2014
|
Category
of Shareholder |
Total
No. of Shares |
As a % |
|
(A) Shareholding of Promoter
and Promoter Group |
||
|
|
|
|
|
|
5259134 |
62.97 |
|
|
174804 |
2.09 |
|
|
174804 |
2.09 |
|
|
5433938 |
65.06 |
|
|
|
|
|
Total shareholding of
Promoter and Promoter Group (A) |
5433938 |
65.06 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
170430 |
2.04 |
|
|
|
|
|
|
1893892 |
22.68 |
|
|
813956 |
9.75 |
|
|
39784 |
0.48 |
|
|
25453 |
0.30 |
|
|
13563 |
0.16 |
|
|
768 |
0.01 |
|
|
2918062 |
34.94 |
|
Total Public shareholding (B) |
2918062 |
34.94 |
|
Total (A)+(B) |
8352000 |
100.00 |
|
(C) Shares held by Custodians
and against which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
8352000 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Bulk Drugs and Chemicals. |
||||||
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|
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Products/ Services : |
|
||||||
|
|
|
||||||
|
Exports : |
Not Divulged |
||||||
|
|
|
||||||
|
Imports : |
Not Divulged |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
Actual Production |
|
|
|
|
|
|
|
Antibiotics |
Kg. |
-- |
750,000 |
492,028 |
|
|
|
|
|
|
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
|||||||||||||||
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|
|||||||||||||||
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Customers : |
Not Divulged |
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No. of Employees : |
Not Divulged |
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|
|||||||||||||||
|
Bankers : |
· Bank of India Mumbai MID Corporate, 70/80, M.G. Road, Bank of India Building,
Mezzanine Floor, Fort, Mumbai - 400001, Maharashtra, India |
|||||||||||||||
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|
|
|||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.I. Mogul and Company Chartered Accountants |
|
Address : |
73-B, Mittal Court, Nariman Point, Mumbai – 400021, Maharashtra, India
|
|
|
|
|
Entities under
direct or indirect control or substantial influence: |
· S. Kant Pharma Private Limited (proprietor of Eskay Fine Chemicals) · S Kant Healthcare Limited · S.K. Age Exports · Bharti and Company · Sevantilal Kantilal and Company · Sevantilal Kantilal Private Limited · Sevak Pharma Private Limited · S.K. Pharma (Jogeshwari) · S.K. Brothers · S.K. Distributors · Eskay Speciality Chemicals · Sevantilal Kantilal Trust · S.K. Logistics and Eskay Iodine Private Limited ·
S. Kant Chemicals Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20,000,000 |
Equity Shares |
Rs. 5/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8,352,000 |
Equity Shares |
Rs. 5/- each |
Rs. 41.760
Millions |
|
|
|
|
|
a. Equity Shares:
|
|
No. of Shares held |
Rs. in Millions |
|
Shares outstanding at the beginning of the year |
8,352,000 |
41.760 |
|
Shares Issued during the year |
-- |
-- |
|
Shares bought back during the year |
-- |
-- |
|
Shares outstanding at the end of the year |
8,352,000 |
41.760 |
b. Shareholders holding more than 5% of the Share Capital
|
Equity Shares : |
31.03.2013 |
|
|
Name of Shareholders |
No. of Shares held |
% of Holding |
|
Bharti Bipin Shah |
1,640,400 |
19.64 |
|
Bipin Nemchand Shah (HUF) |
707,850 |
8.48 |
|
Lalitkumar Popatlal Shah |
639,960 |
7.66 |
|
Bipin Nemchand Shah |
526,350 |
6.30 |
|
Prafulla Lalitkumar Shah |
456,000 |
5.46 |
c. Equity Shares :
|
|
2011-2012 |
2010-2011 |
|
Fully paid-up pursuant to contract(s) without payment being received in cash |
-- |
-- |
|
Fully paid-up by way of bonus shares |
-- |
5,568,000 |
|
Shares bought back |
-- |
-- |
d. The company has only one class of Equity Shares having a par value of Rs. 5 per share. Each holder of equity share 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 approval of the shareholders in the ensuing Annual General Meeting.
e. The shareholders of the Company had approved the
sub-division of Equity Shares of the Company having nominal/face value of Rs.
10 each into Equity Shares having nominal/face value of Rs. 5 each at the
Extraordinary General Meeting (“EGM”) held on June 9, 2006. Consequently, the
Authorised, Issued and Paid-up Share Capital were divided from R 10 per Equity
share to Rs. 5 per Equity Share.”
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
41.760 |
41.760 |
41.760 |
|
(b) Reserves & Surplus |
714.475 |
650.298 |
571.599 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
756.235 |
692.058 |
613.359 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
2.580 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
2.135 |
1.153 |
1.447 |
|
Total Non-current
Liabilities (3) |
4.715 |
1.153 |
1.447 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
5.237 |
13.024 |
70.226 |
|
(b) Trade payables |
469.542 |
294.352 |
224.944 |
|
(c) Other
current liabilities |
13.143 |
26.874 |
103.453 |
|
(d) Short-term
provisions |
112.408 |
162.880 |
226.305 |
|
Total Current
Liabilities (4) |
600.330 |
497.130 |
624.928 |
|
|
|
|
|
|
TOTAL |
1361.280 |
1190.341 |
1239.734 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
104.025 |
74.894 |
81.046 |
|
(ii)
Intangible Assets |
0.773 |
0.304 |
0.203 |
|
(iii)
Capital work-in-progress |
25.980 |
34.280 |
21.528 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
55.790 |
250.618 |
136.200 |
|
(c) Deferred tax assets (net) |
0.000 |
1.170 |
0.173 |
|
(d) Long-term Loan and Advances |
9.270 |
6.686 |
5.966 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
195.838 |
367.952 |
245.116 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
138.021 |
75.125 |
176.824 |
|
(b)
Inventories |
236.843 |
125.921 |
169.001 |
|
(c) Trade
receivables |
544.361 |
390.885 |
253.595 |
|
(d) Cash
and cash equivalents |
133.767 |
66.430 |
87.756 |
|
(e) Short-term
loans and advances |
110.033 |
163.236 |
306.461 |
|
(f) Other
current assets |
2.417 |
0.792 |
0.981 |
|
Total
Current Assets |
1165.442 |
822.389 |
994.618 |
|
|
|
|
|
|
TOTAL |
1361.280 |
1190.341 |
1239.734 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations (net) |
2426.707 |
2256.786 |
1764.307 |
|
|
|
Other Income |
22.275 |
30.099 |
26.612 |
|
|
|
TOTAL
(A) |
2448.982 |
2286.885 |
1790.919 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1968.956 |
1821.004 |
1349.635 |
|
|
|
Purchases of Stock-in-Trade |
59.410 |
101.125 |
129.457 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and Stock-in-Trade |
(27.523) |
(35.098) |
(3.186) |
|
|
|
Employee
benefits expense |
46.790 |
32.009 |
28.046 |
|
|
|
Other expenses |
207.412 |
169.144 |
98.598 |
|
|
|
TOTAL (B) |
2255.045 |
2088.184 |
1602.550 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
193.937 |
198.701 |
188.369 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.453 |
4.986 |
2.224 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
193.484 |
193.715 |
186.145 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
16.636 |
13.215 |
11.067 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
176.848 |
180.500 |
175.078 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
51.498 |
52.039 |
52.182 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
125.350 |
128.461 |
122.896 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
983.494 |
1012.750 |
694.091 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
15.01 |
15.38 |
14.71 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2013 |
30.09.2013 |
31.12.2013 |
31.03.2014 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
4th
Quarter |
|
Net Sales |
555.600 |
674.200 |
668.100 |
766.100 |
|
Total Expenditure |
521.100 |
617.500 |
612.200 |
692.000 |
|
PBIDT (Excl OI) |
34.500 |
56.700 |
55.900 |
74.100 |
|
Other Income |
14.500 |
9.300 |
10.600 |
17.700 |
|
Operating Profit |
49.100 |
66.000 |
66.400 |
91.800 |
|
Interest |
0.000 |
0.200 |
0.200 |
0.600 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
PBDT |
49.000 |
65.900 |
66.200 |
91.100 |
|
Depreciation |
3.900 |
5.100 |
4.500 |
4.000 |
|
Profit Before Tax |
45.100 |
60.800 |
61.700 |
87.200 |
|
Tax |
10.700 |
19.400 |
18.600 |
30.300 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
34.500 |
41.400 |
43.100 |
56.900 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
34.500 |
41.400 |
43.100 |
56.900 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
5.12
|
5.62 |
6.86 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.29
|
8.00 |
9.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.82
|
19.96 |
16.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.26 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.01
|
0.02 |
0.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.94
|
1.65 |
1.59 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
41.760 |
41.760 |
41.760 |
|
Reserves & Surplus |
571.599 |
650.298 |
714.475 |
|
Net
worth |
613.359 |
692.058 |
756.235 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
70.226 |
13.024 |
5.237 |
|
Total
borrowings |
70.226 |
13.024 |
5.237 |
|
Debt/Equity
ratio |
0.114 |
0.019 |
0.007 |
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 |
1764.307 |
2256.786 |
2426.707 |
|
|
|
27.913 |
7.529 |
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 |
1764.307 |
2256.786 |
2426.707 |
|
Profit |
122.896 |
128.461 |
125.350 |
|
|
6.97% |
5.69% |
5.17% |
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 |
No |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10038218 |
22/03/2012 * |
650,000,000.00 |
BANK OF INDIA |
MUMBAI MID
CORPORATE, 70/80, M.G. ROAD,, BANK OF |
B38298881 |
|
2 |
90186656 |
20/03/1999 |
2,500,000.00 |
BANK OF INDIA |
OPERA HOUSE
BRANCH; HERMES HOUSE, MAMA PARAMANAND RD, BOMBAY, MAHARASHTRA - 400004,
INDIA |
- |
|
3 |
90186448 |
23/04/1997 |
2,000,000.00 |
BANK OF INDIA |
OPERA HOUSE
BRANCH; HERMES HOUSE, MAMA PARAMANAND RD, BOMBAY, MAHARASHTRA - 400004,
INDIA |
- |
|
4 |
90184014 |
14/06/2010 * |
450,000,000.00 |
BANK OF INDIA |
WORLI NAKA BR., PANKAJ
MANSION,OPP.PODAR HOSPITAL,, DR. A. B. ROAD, WORLI NAKA,, MUMBAI, MAHARASHTRA
- 400018, INDIA |
A91194704 |
|
5 |
90185621 |
23/04/1997 * |
1,200,000.00 |
BANK OF INDIA |
OPERA HOUSE
BRANCH; HERMES HOUSE, MAMA PARAMANAND RD, BOMBAY, MAHARASHTRA - 400004,
INDIA |
- |
|
6 |
90187519 |
23/04/1997 * |
4,000,000.00 |
BANK OF INDIA |
OPERA HOUSE
BRANCH, M.P. MARG; HERMES HOUSE, BOMBAY, MAHARASHTRA - 400004, INDIA |
- |
|
7 |
90185390 |
29/07/1992 * |
3,300,000.00 |
BANK OF INDIA |
OPERA HOUSE
BRANCH; HERMES HOUSE, MAMA PARAMANAND RD, BOMBAY, MAHARASHTRA - 400004,
INDIA |
- |
|
8 |
90187464 |
06/10/1995 * |
3,300,000.00 |
BANK OF INDIA |
OPERA HOUSE
BRANCH; HERMES HOUSE, MAMA PARAMANAND RD, BOMBAY, MAHARASHTRA - 400004, INDIA |
- |
|
9 |
90183919 |
08/02/1991 * |
4,500,000.00 |
BANK OF INDIA |
OPERA HOUSE
BRANCH; HERMES HOUSE, MAMA PARAMANAND RD, BOMBAY, MAHARASHTRA - 400004,
INDIA |
- |
|
10 |
90187389 |
08/01/1987 |
300,000.00 |
CANARA BANK |
QUEEN'S ROAD, BOMBAY,
MAHARASHTRA - 400004, INDIA |
- |
* Date of charge modification
OPERATIONS
The sales and operating income for the year ended 31st March 2013 amounted to Rs. 2416.050 Millions as against Rs. 2245.816 Millions for the previous year. Thus the turnover of the company has increased by about 7.58% as compared to last year’s turnover.
During the year 2012-13 profit before tax as compared to last year has decreased by 2.02% from Rs. 180.500 Millions to Rs. 176.847 Millions and profit after tax has decreased by 2.42% from Rs. 128.461 Millions to Rs. 125.350 Millions
CURRENT OUTLOOK
The company has planned to achieve a sales turnover of Rs. 2770.000 Millions during the current year.
MANAGEMENT DISCUSSION
AND ANALYSIS
GLOBAL PHARMACEUTICAL
MARKET
The global pharmaceutical market grew up by 1.8% in 2012 to 856 billion US Dollars. The size of the global market for pharmaceuticals is expected to grow nearly by US Dollars 250 billions over the next 5 years, reaching USD 1.1 Trillion in 2016. The 5-8% compound annual growth rate during the period reflects the impact of leading products losing patent protection in developed markets, as well as strong overall growth in the world’s emerging countries.
The regulatory and non-regulated markets of pharmaceuticals are looking at reducing their costs to keep pace with competition and recession.
GLOBAL BULK DRUGS
MARKET
Three segments - Branded Prescription drugs, Over-the-Counter (OTC) drugs and Generic Prescription drugs account for a majority of global bulk drug consumption.
The total global bulk drug consumption is US Dollars 113 billion at an average annual rate at 5.6% growth out of which 80% is used for Branded Prescription drugs, 10% for OTC drugs and 10% for Generic Prescription drugs.
INDIAN PHARMACEUTICAL
MARKET
The Indian domestic pharmaceutical market size is 12 billion US Dollars in the year 2012 and is expected to grow at a high double digits till 2015.
INDIAN BULK DRUG
MARKET
The Indian bulk drug industry to grow to US$ 17 billion by 2013 from the current level of US$12 to 13 billion in 2012-13.
The Indian bulk drug industry is expected to grow at a CAGR of 21% to reach US$ 16.91 billion by 2013-14 out of which exports contribute about 65% of the industry.
India has now emerged as the second largest producer of bulk drugs after China.
India has more than 80 US FDA approved plants, the second highest in the world after the US.
MANUFACTURING
Subject is well positioned to service its existing and potential markets through its manufacturing operations at Tarapur in Maharashtra.
The company enjoys WHO GMP and ISO 9001:2000 approvals and all the facilities are built and operated according to cGMP (current good manufacturing practices).
The company has also submitted DMF to USFDA for 2 of its products, namely Erythromycin and Erythromycin Oxime Base. It already holds Certificate of Suitability (COS) for (1) ERYTHROMYCIN BASE, (2) ERYTHROMYCIN ETHYL SUCCINATE and (3) PYRAZINAMIDE issued by EDQM.
The Company also enjoys approval of WHO Geneva for prequalification of PYRAZINAMIDE.
The company has also received plant approvals from several MNCs.
FINANCIAL PERFORMANCE
In the bygone fiscal, the sales of Anuh Pharma Limited increased by 7.94% to Rs. 2416.050 Millions from Rs. 2245.816 Millions. The company generated Rs. 176.847 Millions in PBT as compared to R 180.500 Millions in the previous year.
OPPORTUNITIES AND
OUTLOOK
Subject will be able to place itself in a strong position by expanding strategically, increasing its manufacturing capacities and enhancing capacities across the organization.
The company is looking at different opportunities in untapped markets and also across a value chain. It plans for alliances with business associates in the global market, giving a huge boost to the selective products that it already deals in.
They are fully conscious of their responsibility towards their customers. Their efforts are directed towards the fulfillment of customer satisfaction through the quality of products. As the consolidation of this industry gains momentum, the need to develop a dedicated team of skilled manpower assumes urgency and importance.
They will continue to focus on training and motivation of manpower so as to develop teams of qualified and skilled personnel to effectively discharge their responsibilities in a number of projects and activities. It is, in this context, which they have been working towards promoting the skills and professionalism of their employees to cope with and focus on the challenges of change and growth.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
(a) Claims against the company not acknowledged as debt |
-- |
-- |
|
(b) Guarantees issued by banks on behalf of the Company |
0.002 |
0.002 |
|
(c) Other money for which the company is contingently liable: |
|
|
|
(1) Letter of Credit outstanding |
410.563 |
392.859 |
|
(2) Sales Tax * |
2.703 |
2.703 |
|
|
|
|
|
Total |
413.268 |
395.564 |
|
* The figure of Rs. 2.703 Millions is as per the orders dated April 10, 2003 of the Assistant Commissioner of Sales Tax (Appeals), Thane. Thereafter, the Company had preferred an appeal before the Maharashtra Sales Tax Tribunal, which has passed its orders on August 27, 2009. However, the Company has not yet received the revised assessment orders giving effect to the above referred Tribunal orders. The Company has filed a Writ Petition before the Honourable High Court of Bombay contesting the Tribunal order. |
||
FIXED ASSETS:
Tangible Assets
· Leasehold Land
· Buildings
· Plant and Machinery
· Laboratory Equipments
· Material Storage and Handling Equipments
· Electric Installations
· Airconditioning Equipments and Refrigarators
· Computer Hardware
· Furniture and Fixtures
· Vehicles
· Office equipment
Intangible Assets
· Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 60.12 |
|
|
1 |
Rs. 102.00 |
|
Euro |
1 |
Rs. 81.43 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.