MIRA INFORM REPORT
|
Report Date : |
19.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
LAURUS LABS PRIVATE LIMITED (w.e.f. 21.02.2012) |
|
|
|
|
Formerly Known
As : |
APTUIT LAURUS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2nd Floor, Serene Chambers, Road No 7, Banjara Hills,
Hyderabad, Andhra Pradesh – 500034 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
19.09.2005 |
|
|
|
|
Com. Reg. No.: |
01-047518 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.777.010 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24239AP2005PTC047518 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCL1170C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers of specially nutraceutical ingredients that can be
integrated into dietary supplements, nutritional products and functional
products |
|
|
|
|
No. of Employees
: |
1500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 10000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having a fine track record. The management has seen significant improvement in the financial performance,
characterised by robust growth in revenues and improvement in profitability
margin during 2013. Liquidity position of the company appears to be sound. The rating also take into consideration the regulatory approvals which
are been successfully sanctioned by various countries for establishing its
facilities. Trade relations are fair. Business is active. Payment terms are
reported as regular and as per commitments. In view of experienced promoters and various strategic partnerships
with reputed organisation, the subject can be considered good for business
dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a
quarter of a century. The data was below an official estimate of 4.9 % annual
growth and compared with 4.5 % in the last fiscal year. However, the current
account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic
product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year
before.A sharp fall in gold imports due to restrictions on overseas purchases
and muted import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from
Russian Investment firm DST Global which has also invested in companies like
Facebook, Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US
governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: A- |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
10.07.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
10.07.2013 |
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 PARTED BY
|
Name : |
Mr. Narasimma Reddy |
|
Designation : |
General Manager |
|
Contact No.: |
91-40-23420500 |
|
Date : |
16.06.2014 |
LOCATIONS
|
Registered / Corporate Office : |
2nd Floor, Serene Chambers, Road No 7, Banjara Hills,
Hyderabad, Andhra Pradesh – 500034, India |
|
Tel. No.: |
91-40-39804333 / 23420500/501 |
|
Fax No.: |
91-40-39804320 |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Owned |
|
|
|
|
Research and Development Office
: |
Plot No: DS1, |
|
Tel. No.: |
91-40-23480480 |
|
Fax No.: |
91-40-23480481 |
|
|
|
|
Drug Substance Facility : |
Plot No. 21, |
|
Tel. No.: |
91-8913061222 |
|
Fax No.: |
91-8913061270 |
|
|
|
|
Aptuit Informatics: |
Plot No. 100-101, |
|
Tel. No.: |
91-80-41907800 |
|
Fax No.: |
91-80-41907805 |
DIRECTORS
As on 13.06.2013
|
Name : |
Dr. Chava Satyanarayana |
|
Designation : |
Whole Time Director and Chief Executive Officer |
|
Address : |
H.No.8 – 2 – 293/82/A/303, Plot No. 303, Road No. 25, Jubilee Hillis,
Hyderabad – 500 033, Andhra Pradesh, India |
|
Date of Birth/Age : |
10.03.1961 |
|
Qualification : |
M.Sc ; Ph.D |
|
Date of Appointment : |
21.01.2006 |
|
DIN No.: |
00211921 |
|
PN No.: |
ABWPC2407Q |
|
|
|
|
Name : |
Dr. Sri Hari Raju Kalidindi |
|
Designation : |
Executive Director |
|
Address : |
Villa No. 3, Aparna Orchids, Izzatnagar, Kondapur, Hyderabad – 500 084,
Andhra Pradesh, India |
|
Date of Birth/Age : |
01.07.1963 |
|
Qualification : |
M.Sc ; Ph.D |
|
Date of Appointment : |
24.04.2006 |
|
DIN No.: |
00982034 |
|
PAN No.: |
ASTPK1009N |
|
|
|
|
Name : |
Mr. Venkata Ravi Kumar Vantaram |
|
Designation : |
Executive Director |
|
Address : |
No. 8, Sai Ansh Arcade, Durga Vihar Colony, Tirumalgherry, Hyderabad –
500 015, Andhra Pradesh, India |
|
Date of Birth/Age : |
01.07.1965 |
|
Qualification : |
M.Com; AICWA |
|
Date of Appointment : |
30.11.2006 |
|
PAN No.: |
ACFPV4907L |
|
DIN No.: |
01424180 |
|
|
|
|
Name : |
Mr. Rajesh Kumar Dugar |
|
Designation : |
Director |
|
Address : |
31, Chitrakoot, Altamount Road, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
01.07.1969 |
|
Date of Appointment : |
14.02.2012 |
|
DIN No. : |
00307729 |
|
|
|
|
Name : |
Dr. Robert Mark Weisskoff |
|
Designation : |
Director |
|
Address : |
18, Preston Road, Lexington Massachusetts – 024203227 |
|
Date of Birth/Age : |
22.06.1962 |
|
Date of Appointment : |
14.02.2012 |
|
DIN No. : |
05122018 |
|
|
|
|
Name : |
Mr. Brian Thomas Regan |
|
Designation : |
Director |
|
Address : |
115, Bay Berry Road, New Canaan Connecticut 06840 |
|
Date of Birth/Age : |
29.11.1977 |
|
Date of Appointment : |
14.02.2012 |
|
DIN No. : |
05205905 |
|
|
|
|
Name : |
Mr. Francis Jackson Wright |
|
Designation : |
Director |
|
Address : |
10 Greenwich Terrace, 104 Ritch Avenue West, Greenwich CT - 06831 |
|
Date of Birth/Age : |
24.01.1948 |
|
Date of Appointment : |
14.02.2012 |
|
DIN No. : |
01609467 |
|
|
|
|
Name : |
Mr. Amal Ganguli |
|
Designation : |
Director |
|
Address : |
J-6/7, DLF, Phase – II, Gurgaon, Haryana – 122002, India |
|
Date of Birth/Age : |
17.10.1939 |
|
Date of Appointment : |
30.08.2007 |
|
DIN No. : |
00013808 |
KEY EXECUTIVES
|
Name : |
Mr. Nagaraj Kumar Annabattula |
|
Designation : |
Company Secretary |
|
Address : |
5-22, Sai Vihar Nagar, Phase – I, Meerpet, Ranga Reddy District – 079,
|
|
Date of Birth/Age : |
05.05.1975 |
|
Date of Appointment : |
16.06.2007 |
|
PAN No.: |
AEJPA0477L |
|
|
|
|
Name : |
Mr. Narasimma Reddy |
|
Designation : |
General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 13.06.2013
SHAREHOLDING DETAIL FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 13.06.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
46.30 |
|
Bodies corporate |
1.31 |
|
Directors or relatives of Directors |
41.30 |
|
Other top fifty shareholders |
11.09 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of specially nutraceutical ingredients that can be
integrated into dietary supplements, nutritional products and functional products. |
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Products : |
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Exports : |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Customer: |
Retailers |
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No. of Employees : |
1500 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Financial Institute: |
Tata Capital Limited, One Forbes, Dr V B Gandhi Marg, Fort, Mumbai - 400001, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi Associates Chartered Accountant |
|
Address : |
Plot No 18, Oval Office, Ilabs Centre Software Units,
Layout Hitee City, Madhapur, Hyderabad – 500081, India |
|
Tel No. : |
91-40-66274202 |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABFS3421N |
|
|
|
|
Company which
exercises significant influence: |
Note:
|
CAPITAL STRUCTURE
As on: 13.06.2013
Authorised Capital: Rs.880.000
Millions
Issued, Subscribed
& Paid-up Capital: Rs.778.393
Millions
As on 31.03.2013
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20899496 |
Equity Shares |
Rs.10/- each |
Rs.208.995 Millions |
|
6900000 |
Preference Shares |
Rs.10/- each |
Rs.69.000 Millions |
|
2477387 |
Preference Shares |
Rs.243/- each |
Rs. 602.005 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.880.000
Millions |
Issued, Subscribed
& Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15240630 |
Equity Shares |
Rs.10/- each |
Rs.152.406 Millions |
|
2259060 |
Preference Shares |
Rs.10/- each |
Rs. 22.590 Millions |
|
2477387 |
Preference Shares |
Rs.243/- each |
Rs. 602.005 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.777.001
Millions |
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 |
777.010 |
777.010 |
173.000 |
|
(b) Reserves & Surplus |
1815.980 |
914.850 |
699.250 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.010 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
2592.990 |
1691.860 |
872.260 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
687.030 |
363.370 |
904.530 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
41.810 |
10.860 |
|
(d) long-term
provisions |
28.010 |
17.730 |
0.000 |
|
Total Non-current
Liabilities (3) |
715.040 |
422.910 |
915.390 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1778.420 |
1289.880 |
976.280 |
|
(b) Trade
payables |
1322.410 |
970.850 |
883.490 |
|
(c) Other
current liabilities |
569.010 |
716.250 |
541.140 |
|
(d) Short-term
provisions |
57.060 |
59.750 |
16.870 |
|
Total Current
Liabilities (4) |
3726.900 |
3036.730 |
2417.780 |
|
|
|
|
|
|
TOTAL |
7034.930 |
5151.500 |
4205.430 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
2342.640 |
1862.530 |
1888.230 |
|
(ii)
Intangible Assets |
12.890 |
2.870 |
1.730 |
|
(iii)
Capital work-in-progress |
727.810 |
321.150 |
10.970 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
118.200 |
97.000 |
97.000 |
|
(d) Long-term Loan and Advances |
328.500 |
92.360 |
26.290 |
|
(e) Other
Non-current assets |
196.240 |
77.950 |
94.220 |
|
Total Non-Current
Assets |
3726.280 |
2453.860 |
2118.440 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1561.900 |
986.320 |
756.230 |
|
(c) Trade
receivables |
1566.960 |
1483.140 |
1255.440 |
|
(d) Cash
and cash equivalents |
26.690 |
92.440 |
4.100 |
|
(e)
Short-term loans and advances |
124.180 |
83.290 |
70.890 |
|
(f) Other current
assets |
28.920 |
52.450 |
0.330 |
|
Total
Current Assets |
3308.650 |
2697.640 |
2086.990 |
|
|
|
|
|
|
TOTAL |
7034.930 |
5151.500 |
4205.430 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
7185.000 |
4507.000 |
2819.550 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1499.000 |
795.000 |
484.920 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
412.000 |
396.000 |
253.940 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1087.000 |
399.000 |
230.980 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
226.000 |
183.000 |
172.080 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
861.000 |
216.000 |
58.900 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(21.000) |
0.000 |
(35.000) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
882.000 |
216.000 |
93.900 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
57.88 |
19.45 |
9.02 |
|
|
|
Diluted |
43.41 |
9.64 |
4.22 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
11560.000 |
The above information has been parted by Mr. Narasimma Reddy (General
Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
11.98
|
4.79
|
2.09 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
33.20
|
4.56
|
1.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33
|
0.13
|
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.95
|
0.98
|
2.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.89
|
0.88
|
2.39 |
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 |
173.000 |
777.010 |
777.010 |
|
Reserves & Surplus |
699.250 |
914.850 |
1815.980 |
|
Net
worth |
872.250 |
1691.860 |
2592.990 |
|
|
|
|
|
|
long-term borrowings |
904.530 |
363.370 |
687.030 |
|
Short term borrowings |
976.280 |
1289.880 |
1778.420 |
|
Total
borrowings |
1880.810 |
1653.250 |
2465.450 |
|
Debt/Equity
ratio |
2.156 |
0.977 |
0.951 |
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 |
2819.550 |
4507.000 |
7185.000 |
|
|
|
59.848 |
59.419 |
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 |
2819.550 |
4507.000 |
7185.000 |
|
Profit |
93.900 |
216.000 |
882.000 |
|
|
3.33% |
4.79% |
12.28% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
four years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
BUSINESS OPERATIONS
During the year the Company achieved:
Growth of 59% revenue, 89% EBITDA and 299% PBT over previous year Scrip award - Best Company in an Emerging Market Pharmexcil award for Outstanding Exports Performance FAPCCI award for Excellence in export performance Development of 7 new generic APIs totaling to 40 commercialised APIs Manufacture of 3 clinical phase APIs Development 2 nutraceutical products Filing of 8 drug master files totaling to 23 products Filing of 16 patents totaling to 68 patents US FDA, WHO, EDQM approvals for Visakhapatnam drug substance facility Investment of Rs.1,100 Mn for creation and expansion of production suites.
OUTLOOK
Business prospects remain positive because of the growing global demand for generics and opportunities provided by patents expiring in developed markets. The business proportions and synergies forms part of growth prospects which are discussed in detail in the Management’s Discussion and Analysis (MDA), which forms part of this Annual Report.
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10468024 |
16/12/2013 |
490,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
CENTRE ONE
BUILDING, FLOOR 21, WORLD TRADE CENTRE |
B92662568 |
|
2 |
10449850 |
06/09/2013 |
225,300,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B85312635 |
|
3 |
10441811 |
15/07/2013 |
250,000,000.00 |
CITIBANK N. A. |
1ST FLOOR,
QUEENS PLAZA, SARDAR PATEL ROAD, HYD |
B81301582 |
|
4 |
10406036 |
03/08/2013 * |
1,000,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
CENTRE ONE BUILDING,
FLOOR 21, WORLD TRADE CENTRE |
B83339739 |
|
5 |
10373290 |
03/08/2013 * |
650,000,000.00 |
ING VYSYA BANK LIMITED |
22,GROUND FLOOR,
ING VYSYA HOUSE, M.G.ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
B82948688 |
|
6 |
10369823 |
03/08/2013 * |
297,000,000.00 |
BANK OF BAHRAIN AND KUWAIT B.S.C. |
43, GOVERNMENT
AVENUE, P O BOX 597,, MANAMA, - 597, BAHRAIN |
B83337220 |
|
7 |
10316958 |
03/08/2013 * |
250,000,000.00 |
BANK OF BAHRAIN AND KUWAIT B.S.C. |
6-3-550, L.B.
BHAWAN, AKASHGANGA, SOMAJIGUDA, HYDERABAD, ANDHRA PRADESH - 500082, INDIA |
B83356568 |
|
8 |
10313484 |
03/08/2013 * |
370,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B83301499 |
|
9 |
10292162 |
23/06/2011 |
155,280,000.00 |
BANK OF BAHRAIN AND KUWAIT B.S.C. |
6-3-550, L.B.BHAWAN,
AKASHGANGA, SOMAJIGUDA, HYDERABAD, ANDHRA PRADESH - 500082, INDIA |
B14980593 |
|
10 |
10213560 |
03/08/2013 * |
200,000,000.00 |
PUNJAB NATIONAL BANK |
4-1-427, AGM'S
OFFICE, BANK STREET, HYDERABAD, ANDHRA PRADESH - 500001, INDIA |
B83289488 |
* Date of charge modification
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2013 |
|
Outstanding bank
guarantees (excluding performance obligations) |
|
|
Bills Discounted |
886.330 |
|
Demad for direct taxes under appeal # |
10.100 |
|
Demad for indirect taxes under appeal # |
1.650 |
|
Preference Dividend |
0.010 |
|
Note: * Amount less than Indian Rupees 10,000 # Based on favourable decisions in similar cases, legal opinion taken by the Company, discussions with the solicitors, etc., the Company believes that there is a fair chance of decisions in its favour with respect to all the items listed above and hence no provision has been considered necessary in these respects. |
|
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Computer equipments
Intangible assets
- Computer software
PRESS RELEASES
TOP PES IN RACE FOR LAURUS LABS STAKE
11 FEBRUARY, 2014
MUMBAI: Private equity giant Carlyle Group and Advent International are in discussions for a $150-million (Rs 900-crore) investment deal in Laurus Labs, a Hyderabad-based manufacturer of active pharmaceutical ingredients (APIs) for oncology and anti-retroviral drugs, at least two people familiar with the matter said.
The decade-old unlisted company, which also makes speciality ingredients for
the nutraceutical industry, has attracted the interest of other private equity
firms TA Associates and KKR as well. Investment bank Jefferies is running a
fund-raising process for Laurus Labs.
The company — founded by pharma entrepreneur and former chief operating officer
of Matrix Laboratories Dr Satyanarayana Chava, and arguably one of the fastest
growing API makers — is said to be seeking a valuation of $450-500 million (Rs
28000.000-30.000,1000.000 Millions).
The investment deal could see existing investor Fidelity Growth Partners, which invested Rs 2000.000 Millions in FY12, part-selling some of its shares in the company. "The transaction may be a combination of fresh cash infusion and some secondary purchase of shares from existing investors," a person directly involved with the matter said.
The fund-raise has been opened up only to a select list of private equity
investors, the person added, asking not to be named as the talks are private.
Laurus Labs founder and CEO Satyanarayana Chava could not be reached despite
repeated calls. An emailed query remained unanswered at the time of going to
press.
Last year, Laurus Labs said it was setting up two more manufacturing plants
besides the existing one in Visakhapatnam, and was also working on making APIs
for diabetes drugs.
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 : |
GYT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
51 |
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.