MIRA INFORM REPORT
|
Report Date : |
20.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
MARCK BIOSCIENCES LIMITED |
|
|
|
|
Formerly Known
As : |
MARCK PARENTERALS (INDIA) LIMITED |
|
|
|
|
Registered
Office : |
5th Floor, Heritage, Near Gujarat Vidhyapith, Off. Ashram
Road, Ahmedabad – 380014, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
21.12.1994 |
|
|
|
|
Com. Reg. No.: |
04-023944 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.613.081
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24139GJ1994PLC023944 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMM01724C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM0366P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Medical Equipments. |
|
|
|
|
No. of Employees
: |
400 (Approximately) (In Office + In Factor) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5300000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having a satisfactory track record. Financial position of the company seems to be decent. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct. 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
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 |
CRISIL |
|
Rating |
Long Term Rating ‘D’ (Suspended) |
|
Rating Explanation |
Expected to be in default |
|
Date |
30.10.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating ‘D’ (Suspended) |
|
Rating Explanation |
Expected to be in default |
|
Date |
30.10.2013 |
Reason for Suspended: The suspension of rating
is on account of non-cooperation by company with CRISIL’s to undertake a review
of the ratings outstanding.
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. Manish Shah |
|
Designation : |
Accounts Officer |
|
Contact No.: |
91-79-30017500 |
|
Date : |
19.06.2014 |
LOCATIONS
|
Registered Office : |
5th Floor, Heritage, Near Gujarat Vidhyapith, Off. Ashram Road,
Ahmedabad – 380014, Gujarat, India |
|
Tel. No.: |
91-79-30017500 |
|
Fax No.: |
91-79-30017600 |
|
E-Mail : |
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|
Website : |
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|
Area : |
15000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Plot No: 876, N.H. no. 8, Hariyala, Kheda – 387411, Gujarat, India |
|
Tel. No.: |
91-2694-304000 |
|
Fax No.: |
91-2694-304050 |
|
|
|
|
Factory 2 : |
Plot #10/11 Pilrene Industrial Estate, Survey# 85, Village Marra, Goa,
India |
|
Tel. No.: |
91-832 240728 |
|
Fax No.: |
91-832 240728 |
DIRECTORS
As on: 28.09.2013
|
Name : |
Mr. Bhavesh Girishbhai Patel |
|
Designation : |
Managing Director |
|
Address : |
4 – Saket – II, L. J. Collage Road, S. G. Highway, Ahmedabad – 380051.
Gujarat, India |
|
Date of Appointment : |
21.12.1994 |
|
PAN No.: |
AAYPP0537H |
|
DIN No.: |
00085505 |
|
|
|
|
Name : |
Mr. Rohit Jasbhai Patel |
|
Designation : |
Director |
|
Address : |
Vishal Bunglows, Karamsad Vidyanagar Road, Anand – 388001, Gujarat,
India |
|
Date of Appointment : |
21.12.1994 |
|
DIN No.: |
00088482 |
|
|
|
|
Name : |
Mr. Prafulbhai Jasbhai Patel |
|
Designation : |
Director |
|
Address : |
2710, Sultana Ave, Ontario, C A – 91761, U.S.A. |
|
Date of Appointment : |
03.07.2003 |
|
DIN No.: |
01898939 |
|
|
|
|
Name : |
Mr. Kirit Ambalal Desai |
|
Designation : |
Director |
|
Address : |
1207, Cardinal Avenue, Sugar Land, Houston, Texas 77478 - USA |
|
Date of Appointment : |
29.09.2010 |
|
DIN No.: |
0327219*0 |
|
|
|
|
Name : |
Mr. Prayasvin Bhanubhai Patel |
|
Designation : |
Director |
|
Address : |
“Honest House”, Bakrol Road, Vallabh Vidyanagar, Nagar, Anand – 388120,
Gujarat, India |
|
Date of Appointment : |
31.07.1997 |
|
DIN No.: |
00037394 |
|
|
|
|
Name : |
Mr. Surendra Maneklal Shah |
|
Designation : |
Director |
|
Address : |
“SNEH”, Panchwati, 1st Lane, Ellisbridge, Ahmedabad – 380
006, Gujarat, India |
|
Date of Appointment : |
21.09.2006 |
|
DIN No.: |
00016578 |
|
|
|
|
Name : |
Mrs. Indira Jitendra Parikh |
|
Designation : |
Director |
|
Address : |
Parmita 203, Nehru Park, Vastrapur, Satellite, Ahmedabad – 380015,
Gujarat, India |
|
Date of Appointment : |
21.09.2006 |
|
DIN No.: |
00143801 |
|
|
|
|
Name : |
Mr. Pradyumn Gaurishanker Shrotriya |
|
Designation : |
Director |
|
Address : |
G 901 Green Woods, Andheri Kurla Road, Chakala, Andheri (East), Mumbai
– 400093, Maharashtra, India |
|
Date of Appointment : |
21.09.2006 |
|
DIN No.: |
00822579 |
|
|
|
|
Name : |
Mrs. Bhavna Rao Sharma |
|
Designation : |
Nominee Director |
|
Address : |
50, Vaishali Appt., IIt Campus, Ne Delhi – 110016 |
|
Date of Appointment : |
03.05.2012 |
|
DIN No.: |
00956209 |
|
|
|
|
Name : |
Mrs. Manisha Bhaveshkumar Patel |
|
Designation : |
Alternate Director |
|
Address : |
4 – Saket – II, L. J. Collage Road, S. G. Highway, Ahmedabad – 380051.
Gujarat, India |
|
Date of Appointment : |
29.09.2010 |
|
DIN No.: |
00154332 |
|
|
|
|
Name : |
Mrs. Jayshreeben Rohitkumar Patel |
|
Designation : |
Alternate Director |
|
Address : |
Vishal Bunglows, Karamsad Vidyanagar Road, Anand – 388001, Gujarat ,
India |
|
Date of Appointment : |
29.09.2010 |
|
DIN No.: |
00868474 |
|
|
|
|
Name : |
Mr. Homi Rustam khusrokhan |
|
Designation : |
Director |
|
Address : |
302 Daisylea, off. Mt. Pleasant Road, Malabar Hill, Mumbai - 400006, Maharashtra, India. |
|
Date of Birth/Age : |
15.12.1943 |
|
Date of Appointment : |
14.12.2012 |
|
DIN No.: |
00005085 |
|
|
|
|
Name : |
Mr. Sanjay Chaudhary |
|
Designation : |
Director |
|
Address : |
606, Sarvapriya Apartments, Sarvapriya Vihar, New Delhi - 110016,
India |
|
Date of Birth/Age : |
23.12.1967 |
|
Date of Appointment : |
14.12.2012 |
|
DIN No.: |
01806269 |
KEY EXECUTIVES
|
Name : |
Mr. Shilesh Manubhai Shah |
|
Designation : |
Secretary |
|
Address : |
D/61, Shahjanand Flats, Near Sterling Hospital, Gurukul Road,
Ahmedabad – 380052, Gujarat, India |
|
Date of Birth/Age : |
02.03.1960 |
|
Date of Appointment : |
01.07.2002 |
|
PAN No.: |
ACMPS6426Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 28.09.2013
SHAREHOLDER DETAILS
FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on: 28.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Venture capital |
|
14.39 |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
15.65 |
|
Bodies corporate |
|
21.36 |
|
Directors or relatives of directors |
|
43.10 |
|
Other top fifty shareholders |
|
4.76 |
|
Others |
|
0.74 |
|
|
|
|
|
Total
|
|
100 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Medical Equipments. |
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Products : |
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Exports : |
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Products : |
Medical Equipments |
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Countries : |
African Countries |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Gulf Countries |
GENERAL INFORMATION
|
Suppliers : |
Aryan Distributors, Chhattisgarh, |
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Customers : |
Qatar Petrochemicals, Doha,Qatar |
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No. of Employees : |
400 (Approximately) (In Office + In Factor) |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Financial Institute : |
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Auditors : |
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|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
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|
Address : |
2nd Floor Heritage, |
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PAN No.: |
AABFD7919A |
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Sister Concern : |
CIN
No. U99999GJ1993PLC019724
CIN No. U32201GJ1987PTC010122 |
CAPITAL STRUCTURE
As on: 28.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
37000000 |
Equity Shares |
Rs.10/- each |
Rs.370.000 Millions |
|
45000000 |
Preference Shares |
Rs.10/- each |
Rs.450.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.820.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
36308078 |
Equity Shares |
Rs.10/- each |
Rs.363.081
Millions |
|
45000000 |
Preference Shares |
Rs.10/- each |
Rs.450.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.813.081 Millions |
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
62000000 |
Equity Shares |
Rs.10/- each |
Rs.620.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
61308078 |
Equity Shares |
Rs.10/- each |
Rs.613.081 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 |
613.081 |
363.081 |
363.081 |
|
(b) Reserves & Surplus |
720.646 |
601.949 |
521.515 |
|
(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) |
1333.727 |
965.030 |
884.596 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a)
long-term borrowings |
339.931 |
452.205 |
445.790 |
|
(b) Deferred tax
liabilities (Net) |
208.535 |
142.059 |
101.412 |
|
(c)
Other long term liabilities |
0.475 |
1.423 |
1.751 |
|
(d)
long-term provisions |
7.678 |
9.545 |
31.816 |
|
Total
Non-current Liabilities (3) |
556.619 |
605.232 |
580.769 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
195.417 |
241.017 |
218.141 |
|
(b)
Trade payables |
206.860 |
187.358 |
115.553 |
|
(c)
Other current liabilities |
302.699 |
283.568 |
160.258 |
|
(d)
Short-term provisions |
29.845 |
41.408 |
0.996 |
|
Total
Current Liabilities (4) |
734.821 |
753.351 |
494.948 |
|
|
|
|
|
|
TOTAL |
2625.167 |
2323.613 |
1960.313 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1713.361 |
1616.253 |
1113.155 |
|
(ii)
Intangible Assets |
2.171 |
7.531 |
10.245 |
|
(iii)
Capital work-in-progress |
3.004 |
1.404 |
350.269 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.318 |
|
(b)
Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c)
Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
192.123 |
91.008 |
55.146 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
1910.659 |
1716.196 |
1529.133 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
10.000 |
0.000 |
0.000 |
|
(b)
Inventories |
234.106 |
191.284 |
101.909 |
|
(c)
Trade receivables |
353.430 |
338.530 |
255.201 |
|
(d)
Cash and cash equivalents |
63.334 |
24.685 |
19.050 |
|
(e)
Short-term loans and advances |
37.861 |
39.023 |
49.988 |
|
(f)
Other current assets |
15.777 |
13.895 |
5.032 |
|
Total
Current Assets |
714.508 |
607.417 |
431.180 |
|
|
|
|
|
|
TOTAL |
2625.167 |
2323.613 |
1960.313 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
1551.396 |
1132.089 |
1025.085 |
|
|
Other Income |
10.249 |
5.730 |
1.744 |
|
|
TOTAL |
1561.645 |
1137.819 |
1026.829 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
568.451 |
458.168 |
382.493 |
|
|
Purchases of
Stock-in-Trade |
24.452 |
13.714 |
9.650 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(14.641) |
(82.867) |
2.728 |
|
|
Employees benefits
expense |
164.198 |
130.435 |
99.542 |
|
|
Other expenses |
347.116 |
287.790 |
243.195 |
|
|
TOTAL |
1089.576 |
807.240 |
737.608 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION
|
472.069 |
330.579 |
289.221 |
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
138.359 |
103.529 |
94.696 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
333.710 |
227.050 |
194.525 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
117.339 |
97.284 |
78.504 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
216.371 |
129.766 |
116.021 |
|
|
|
|
|
|
|
Less |
TAX |
70.088 |
49.332 |
33.086 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
146.283 |
80.434 |
82.935 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
251.887 |
171.453 |
88.518 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
398.170 |
251.887 |
171.453 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Exports Earnings |
488.375 |
363.076 |
304.285 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
322.487 |
254.865 |
216.238 |
|
|
Spares |
1.381 |
14.279 |
6.029 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
1.80 |
0.99 |
1.02 |
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
1800.000 |
|
|
|
|
|
The above information has been parted by Mr. Manish Shah (Accounts
Officer).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
9.37 |
7.07 |
8.08 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.95 |
11.46 |
11.32 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.25 |
5.59 |
7.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.13 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.40 |
0.72 |
0.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.97 |
0.81 |
0.87 |
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 |
363.081 |
363.081 |
613.081 |
|
Reserves & Surplus |
521.515 |
601.949 |
720.646 |
|
Net worth |
884.596 |
965.030 |
1333.727 |
|
|
|
|
|
|
long-term borrowings |
445.790 |
452.205 |
339.931 |
|
Short term borrowings |
218.141 |
241.017 |
195.417 |
|
Total borrowings |
663.931 |
693.222 |
535.348 |
|
Debt/Equity ratio |
0.751 |
0.718 |
0.401 |
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 |
1025.085 |
1132.089 |
1551.396 |
|
|
|
10.439 |
37.038 |
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 |
1025.085 |
1132.089 |
1551.396 |
|
Profit |
82.935 |
80.434 |
146.283 |
|
|
8.09% |
7.10% |
9.43% |
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 |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
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 |
OPERATIONAL REVIEW
The company has registered better performance compared to last year. The turnover and profit has increased for the year mainly aided by (1) full scale operation of Goa Unit, and (2) higher Net Realizable Value of all most all the products, upon price increase given by NPPA for their products covered under DPCO. As informed in last years report, the full effect of increase in prices of products is quite visible in financial performance during the year . The total turnover has increased from Rs.1194.500 Millions to Rs.1656.700 Millions, a jump of 39% and Net Profit has increased from Rs.80.400 Millions to Rs.146.300 Millions, an increase of 82%.
With inflation easing out, the prices of inputs have more or less stabilized. As far as exchange rate of Indian Rupee with US Dollar is concerned, it has helped us for their exports, while it has impacted adversely for their Plastic purchase. Since they have Exchange Surplus situation, overall it has benefited the company.
The company, generally, has order book position of about 60 to 70 days. The performance of all the Strategic Business Units (SBUs) has registered improvement. The Domestic Sales has grown from Rs.742.100 Millions to Rs.1061.700 Millions. The Sales from Goa unit has started at higher scale and this has also resulted in additional geographical coverage for company’s products. Company has widened the distributors? network and increased the strength of Field Staff.
As far as International Sales is concerned, there is jump of 29% from Rs.433.000 Millions to Rs.557.300 Millions. During the year company has received facility approval from TGA, Australia and MCC, South Africa. These two are among the prestigious registrations for the company. The business in Australia and New Zealand is expected to commence shortly.
Apart from traditional business of Large Volume Parenteral and Small Volume Parenteral in FFS pack, during the year, company has focused on 3 piece ophthalmic business and new customers like Cadila Healthcare, Biocon etc. has started business with company.
The Formulation Development for ophthalmic products, taken up for Alembic and Hetro Labs Limited. has been completed during the year .
The Goa unit is now fully operational and all the bottlenecks have been removed. They are getting rated production and capacity utilization has crossed 90% since July/August 2012.
The lead banker of the company has enhanced the working capital facility of the company in view of the increased operations.
UNSECURED LOAN
(Rs.
In Millions)
|
|
As on 31.03.2013 |
As on 31.03.2012 |
|
Long Term
Borrowings |
|
|
|
Rupee term loans from others |
62.367 |
0.000 |
|
Deposits |
36.548 |
52.327 |
|
Fully convertible debentures |
0.00 |
25.000 |
|
|
|
|
|
Short Term
Borrowings |
|
|
|
Loans repayable on demand from banks |
2.918 |
9.035 |
|
Public deposits |
3.020 |
3.831 |
|
Deposits from others |
0.000 |
4.000 |
|
|
|
|
|
Total |
104.853 |
94.193 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10488075 |
16/04/2014 * |
300,000,000.00 |
CENTBANK FINANCIAL SERVICES LIMITED |
15-16 BAJAJ BHAWAN, 1ST FLOOR, OPP INOX MULTIPLEX, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA |
C04759072 |
|
2 |
10477085 |
18/01/2014 |
50,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, 1ST FLOOR,, NEPTUNE TOWER ANNEX, ASHRAM ROAD, AHMEDABAD - 380009, GUJARAT, INDIA |
B96148234 |
|
3 |
10270232 |
12/03/2012 * |
260,000,000.00 |
STATE BANK OF INDIA |
1ST FLOOR, NEPTUNE TOWER ANNEXE, OFF NEHRU BRIDGE, NEAR SAKAR -VII, ASHRAM ROAD, AHMEDABAD - 380009, GUJARAT, INDIA |
B36750032 |
|
4 |
10185502 |
07/10/2009 |
30,100,000.00 |
3I INFOTECH TRUSTEESHIP SERVICES LIMITED |
3RD TO 6TH FLOOR, INTERNATIONAL INFOTECH PARK, TOWER NO.5, VASHI RAILWAY STATION COMPLEX, VASHI, NAVI MUMBAI - 400703, MAHARASHTRA, INDIA |
A71666010 |
|
5 |
10097453 |
27/04/2009 * |
70,000,000.00 |
CENTRAL BANK OF INDIA LIMITED |
MID CORPORATE FINANCE BRANCH, 1ST FLOOR, CENTRAL |
A62100664 |
|
6 |
10070636 |
17/09/2013 * |
262,500,000.00 |
CENTRAL BANK OF INDIA LIMITED |
MID CORPORATE FINANCE BRANCH, 1ST FLOOR, CENTRAL |
B86309028 |
|
7 |
10009467 |
17/03/2007 * |
470,000,000.00 |
CENTRAL BANK OF INDIA LIMITED |
ASHRAM ROAD BRANCH, USMANPURA CHAR RASTA, ASHRAM ROAD, AHMEDABAD - 380014,, Gujarat, INDIA |
A02372753 |
* Date of charge modification
FIXED ASSETS
- Freehold Land
- Buildings
- Plant and
Machinery
- Electric
Installations
- Vehicles
- Furniture and
Fixtures
- Office
Equipments
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.60.00 |
|
|
1 |
Rs.102.05 |
|
Euro |
1 |
Rs.81.71 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
VNK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
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 |
|
49 |
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.