MIRA INFORM REPORT

IDENTIFICATION DETAILS

Name :	VEER CHEMIE AND AROMATICS PRIVATE LIMITED

Registered Office :	6-3-852/2B/5A, Aparajita Colony, Ameerpet, Hyderabad – 500037, Andhra Pradesh

Country :	India

Financials (as on) :	31.03.2013

TAN No.: [Tax Deduction & Collection Account No.]	HYDV00260B

Legal Form :	Private Limited Liability Company

No. of Employees :	Information denied by management

BUSINESS DETAILS

Line of Business :	The company is engaged in the business of manufacturing and sale of bulk drugs and drug intermediates.

Products :	Niacin Nicotinamide Isonicatinic Acid Isoniazid (INH) Methyl Nicotinate Ethyl Nicotinate Benzyl Nicotinate Hexyl Nicotinate INA Ester MEP Derivatives

GENERAL INFORMATION:

The company is engaged in the business of manufacturing and sale of bulk drugs and drug intermediates.

OPERATTONS:

During the year, the company made a turnover of Rs.517.300 Millions as compared Rs.664.500 Millions in the previous year. This is owing to lower demand and fall in sale prices based on market conditions.

During the current year due to huge excess manufacturing capacity for Nicotinamide in India and Internationally outlook for the current year by new manufacturers and capacity expansions of all other existing manufacturers, the supply position of Nicotinamide is more than double of demand. This resulted in decrease in sale price of Nicatinamide.

The price of principal raw material is also increased when compared to previous year. In addition there is a steep increase in cost of power and fuel.

Due to above reasons the margins have reduced drastically when compared to previous year.

GENERAL INFORMATION

No. of Employees :	Information denied by management

Bankers :	Andhra Bank Citi Bank NA


Banking Relations :	--

Auditors :
Name :	Rajan and Company Chartered Accountants
Address :	‘Krishna Kutir’, 7-1-71/A, Dharmkaran Road, Ameerpet, Hyderabad – 500 016, Andhra Pradesh, India
Tel. No.:	91-40-23730958
PAN No.:	ABQPT2776H

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 26.09.2013

Names of Shareholders	No. of Shares
P.V. Ranveer	4102
P.V. Pratap	1376
P. Rukmani	440
Krishna Datla	56
Vijaykumar Datla	100
K. Rayapa Raju	404
K.K. Indumati	400
Rajini Maturu	40
Aruna Pratap	40
Vijaykumar Datla jointly with Renuka Datla	2856
TOTAL	9814

Equity Share Break up (Percentage of Total Equity)

AS ON 26.09.2013

Category	Percentage
Directors or relatives of Directors	100.00
TOTAL	100.00

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	0.981	0.981	0.981
(b) Reserves & Surplus	765.966	664.769	542.264
(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)	766.947	665.750	543.245

(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	23.190	21.640	20.340
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	23.190	21.640	20.340

(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	19.366	17.235	15.639
(c) Other current liabilities	17.678	20.762	14.161
(d) Short-term provisions	132.414	79.277	181.051
Total Current Liabilities (4)	169.458	117.274	210.851

TOTAL	959.595	804.664	774.436

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	143.524	147.178	120.789
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	5.042	1.547	1.260
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.023	0.023	0.023
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	148.589	148.748	122.072

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	39.809	33.586	12.842
(c) Trade receivables	142.884	179.067	141.515
(d) Cash and cash equivalents	495.049	372.745	318.361
(e) Short-term loans and advances	8.374	8.357	5.361
(f) Other current assets	124.890	62.161	174.285
Total Current Assets	811.006	655.916	652.364

TOTAL	959.595	804.664	774.436

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2013	31.03.2012	31.03.2011
	SALES
		Income		517.360	664.482	589.000
		Other Income		53.387	40.365	NA
		TOTAL		570.747	704.847	NA

Less	EXPENSES
		Cost of Material Consumed		393.667	493.657	NA
		Purchase of Stock In Trade
		Other Expenses
		TOTAL		393.667	493.657	NA

	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION			177.080	211.190	147.517

Less	DEPRECIATION/ AMORTISATION			9.419	8.108	7.439

	PROFIT/(LOSS) BEFORE TAX			167.661	203.082	140.078

Less	TAX			53.432	65.590	46.226

	PROFIT/(LOSS) AFTER TAX			114.229	137.492	93.852

Add	ADJUSTMENT FOR DEFERRED TAX			(1.550)	(1.300)	(2.010)

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			260.245	197.740	155.024

Less	APPROPRIATIONS
			Transfer to General Reserve	50.000	60.000	40.000
			Dividend	9.814	11.777	7.851
			Tax on Dividend	1.668	1.910	1.275
	BALANCE CARRIED TO THE B/S			311.442	260.245	197.740

	EARNINGS IN FOREIGN CURRENCY
			Export Earnings	145.894	175.757	174.198

	Earnings Per Share (Rs.)			11481.00	13877.00	NA

LITIGATION DETAILS:

CASE STATUS INFORMATION SYSTEM

ITTA 182 / 2006

ITTASR 654 / 2006

CASE IS:PENDING

PETITIONER	RESPONDENT
THE COMMISIONER OF INCOME TAX-III, HYDERABAD. VS	M/S VEER CHEMIE AND AROMATICS PRIVATE LIMITED, HYDERABAD.
PET.ADV. : NARASIMHA SARMA	RESP.ADV. : RAVI
SUBJECT: U/Sec. 143 Assessment	DISTRICT: HYDERABAD

FILING DATE: 03-03-2006

POSTING STAGE : FINAL HEARING

REG. DATE : 10-04-2006

LISTING DATE : 31-01-2012

STATUS : ---------

HON'BLE JUDGE(S):

HON'BLE THE CHIEF JUSTICE

SANJAY KUMAR

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 3070000

Status :	Satisfactory

Payment Behaviour :	Usually Correct

Litigation :	Exist

RBI DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

LOCATIONS

Registered Office :	6-3-852/2B/5A, Aparajita Colony, Ameerpet, Hyderabad – 500 037, Andhra Pradesh, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	ranveer@hd1.vsn.net.in ranveer@veerchemie.com
Website :	http://www.veerchemie.com

Corporate Office :	A-4, Co-Operative Industrial Estate, Balanagar, Hyderabad – 500 037, Andhra Pradesh, India
Tel. No.:	91-40-23774210/ 1063/ 4064/ 23079140/ 23774210
Fax No.:	91-40-23770205/ 23775285
E-Mail :	info@veerchemie.com ranveer@veerchemie.com

Factory :	5-48, IDA Bollaram, Narasapur, Medak, Andhra Pradesh, India

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.