MIRA
INFORM REPORT
|
Report Date : |
07.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
ACG ASSOCIATED CAPSULES PRIVATE LIMITED (w.e.f. 10.11.2009) |
|
|
|
|
Formerly Known
As : |
ASSOCIATED
CAPSULES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
131, Kandivali Industrial Esate, Kandivali (West), Mumbai
– 400067, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
13.07.1961 |
|
|
|
|
Com. Reg. No.: |
11-012061 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 5.691 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24239MH1961PTC012061 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA18885G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA4769K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Empty Hard Gelatin Capsules. |
|
|
|
|
No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 26000000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having fine track record. The rating reflects healthy financial risk profile supported by the
adequate liquidity position and decent profitability of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for normal 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.
INDIAN ECONOMIC OVERVIEW
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital
firms in India during 2013, registering a drop of about 18 % over the previous
year. The Information Technology and IT-Enabled Services Industry
retained its status as the favourable venture capital investors in 2013.
Pakistan has temporarily banned gold imports for the second time in six months,
as it tries to stem smuggling into India. India’s import duty on gold is 10 %
and curbs on purchases have dried up legal imports into what used to be the
world’s biggest bullion buyers. The World Gold Council puts the amount smuggled
into India at upto 200 tonnes in 2013. The Reserve Bank of India has proposed
that unclaimed bank deposits estimated to be about Rs 35000 mn be used for
education and awareness among depositors. According to the plan, deposits
that have not been claimed for at least 10 years will be transferred to the
scheme.
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. Amar Mahindra |
|
Designation : |
Assistant Finance manager |
|
Contact No.: |
91-9821980422 |
|
Date : |
06.03.2014 |
LOCATIONS
|
Registered Office : |
131, Kandivli
Industrial Estate, Kandivli (West), Mumbai - 400067, |
|
Tel. No.: |
91-22-28682010 (9
Lines)/ 28683268/ 30700118/ 19/ 30700105 |
|
Mobile No.: |
91-9821980422 (Mr. Amar Mahindra) |
|
Fax No.: |
91-22-28686152/
28682514/ 28684515/ 28603164 |
|
E-Mail : |
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|
Website : |
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|
Area : |
4933 sq. mtrs. |
|
Location : |
Owned |
|
|
|
|
Corporate Headquarters : |
10th
Floor, Dalamal House, Nariman Point, Mumbai – 400 021, |
|
Tel. No.: |
91-22-22872557/
58/ 59/ 22880461/ 2/ 3/ 22856666/30089444/45 |
|
Fax No.: |
91-22-22872560 |
|
E-Mail : |
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|
|
|
Corporate Office : |
Scitech Centre 7,
Prabhat Nagar, Patel Estate, Jogeshwari (West), Mumbai – 400 102, |
|
Tel. No.: |
91-22-26789642/
43-45 |
|
|
|
|
Factory 1 : |
Village
Shindewadi, Shirwal, Taluka Khandala, District Satara, |
|
|
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Factory 2 : |
Village Aswe,
Ashagadh, |
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|
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Factory 3 : |
Gat 222, Village
Mahalunge Talegaon, |
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|
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Factory 4 : |
Located at: Prithampur, Near
Indore |
|
|
|
|
Regional Office : |
310, |
|
Tel. No.: |
91-120-4310072 |
|
Fax No.: |
91-120-4310073 |
|
|
|
|
Overseas Office : |
Located at: ·
·
·
·
·
·
|
DIRECTORS
As on 15.07.2013
|
Name : |
Mr. Ajit Daljit Singh |
|
Designation : |
Whole Time Director |
|
Address : |
1-A, Brighton, Rungta Lane, Nepeansea Road, Mumbai - 400 006, Maharashtra, India |
|
Date of Birth/Age : |
20.11.1941 |
|
Qualification : |
M.A. (CANTAB) and Post-Graduation Work at the Harvvard Business School, USA |
|
Date of Appointment : |
01.04.2005 |
|
DIN No : |
00915347 |
|
PAN No.: |
AAIPS7652Q |
|
|
|
|
Name : |
Mr. Jasjit Daljit Singh |
|
Designation : |
Managing Director |
|
Address : |
2-B, Swapnalok, L.J. Marg, Nepeansea Road, Mumbai - 400 006, Maharashtra, India |
|
Date of Birth/Age : |
03.04.1943 |
|
Qualification : |
BE, Mechanical |
|
Date of Appointment : |
01.04.2005 |
|
DIN No : |
00901470 |
|
PAN No.: |
AAGPS7557Q |
|
|
|
|
Name : |
Mr. Karan Jasjit Singh |
|
Designation : |
Director |
|
Address : |
2-B, Swapnalok, L.J. Marg, Nepeansea Road, Mumbai - 400 006, Maharashtra, India |
|
Date of Birth/Age : |
23.07.1979 |
|
Qualification : |
Graduate from Michigan University - USA and Post-Graduation work at the Harvard Business School - USA |
|
Date of Appointment : |
01.04.2005 |
|
DIN No : |
00901342 |
|
PAN No.: |
AAIPS0968B |
|
|
|
|
Name : |
Mr. Jagmohanlal Chamanlal Chopra |
|
Designation : |
Additional Director |
|
Address : |
4th Floor, 42, Tower B, Jollymaker, A 95-97, Cuffe Parade Road, Colaba, Mumbai – 400 005, Maharashtra, India |
|
Date of Birth/Age : |
17.11.1933 |
|
Date of Appointment : |
01.10.2006 |
|
DIN No : |
00901556 |
|
|
|
|
Name : |
Mr. Selwyn Mariano Jonas Noronha |
|
Designation : |
Whole-time director |
|
Address : |
B/506, Rock Enclave, Opposite Joy Ice Crean Hindustan Naka, kandivli (West), Mumbai – 400067, Maharashtra, India |
|
Date of Birth/Age : |
11.06.1962 |
|
Date of Appointment : |
01.11.2012 |
|
DIN No : |
06404486 |
|
PAN No.: |
ABMPN0698N |
KEY EXECUTIVES
|
Name : |
Mr. Amar Mahindra |
|
Designation : |
Assistant Finance manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 15.07.2013
|
Names of Shareholders |
|
No. of Shares |
|
Jasjit Daljit Singh and Kavita Daljit Singh |
|
244333 |
|
Vijay Kuverba |
|
18000 |
|
Jasjit Singh HUF |
|
12765 |
|
Orind
Estates Private Limited, |
|
580520 |
|
Kavita Singh and Jasjit Singh |
|
3780 |
|
Nandini Singh Jasjit Singh and Kavita Singh |
|
1980 |
|
Singh
Family |
|
180 |
|
Sardr Daljit Singh (HUF) |
|
5580 |
|
MNT
|
|
180 |
|
Ajit
Daljit Singh and Jasjit Daljit Singh |
|
266998 |
|
Priya
Singh Jasjit Singh and Kavita Singh |
|
1980 |
|
Karan
Singh, Jasjit Singh and Kavita Singh |
|
1980 |
|
|
|
|
|
Total |
|
1138276 |
Equity Share Break up (Percentage of Total Equity)
As on 15.07.2013
|
Category |
Percentage |
|
Bodies corporate |
51.00 |
|
Directors or relatives of Directors |
47.42 |
|
Other |
1.58 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Empty Hard Gelatin Capsules. |
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Products : |
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Exports : |
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Products : |
Gelatin Capsules |
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Countries : |
·
USA ·
France ·
Italy |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
Brazil ·
Korea |
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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 |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Installed
Capacity |
Actual
Production |
|
Empty Hard
Gelatin Capsules shells and HPMC Capsules (In Million Nos.) |
48325 |
43753 |
GENERAL INFORMATION
|
Suppliers : |
·
Sterling Biotech Limited |
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|
|
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Customers : |
Wholesalers and Retailers ·
Glenmark Pharmaceuticals |
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No. of Employees : |
1000 (Approximately) |
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|
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Bankers : |
·
Standard Chartered Bank (acting as Lead Bank
for itself and on behalf of BOI and SBI), 90, ·
Bank of ·
State Bank of ·
ICICI Bank Limited, ·
ANZ Grindlays Bank Limited, 90, · ABN Amro Bank · Citi Bank ·
Standard
Chartered Bank, 19, Rajaji Salai, Chennai – 600001, Tamilnadu, India |
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Facilities : |
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Banking
Relations : |
-- |
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|
Auditors : |
|
|
Name : |
Contractor, Nayak and Kishnadwala Chartered Accountants |
|
Address : |
5th Floor, Narain, Chambers, M.G.Road, Vile Parle(E), Mumbai, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AACFC8587E |
|
|
|
|
Holding Company:: |
· Orind Estates Private Limited, India [U70102MH2010PTC198368] |
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|
|
|
Subsidiaries: |
· ACG Europe Limited. · ACG Holding B V. Netherlands (company has been liquidated during the year) · ACG Lucaps d.o.o Croatia · ACG Associated Capsules Philippines Inc · ACG DO Brazil Representacoes Commercials S/A · EH Advisors and Consultants Private Limited (Formerly Extra Hands) |
|
|
|
|
Jointly Controlled
Enterprise: |
· ACG Hongkong Limited · ACG North America LLC |
|
|
|
|
Companies / Firms over which the Directors have significant
influence or control: |
Companies · ACG Arts and Properties Private Limited · ACG Pharmapack Private Limited, India [U45200MH2004PTC149770] · Custom Capsules Private Limited · ACG Real Estate Private Limited (formerly Trambak Developers Private Limited) · ACG Inspection Systems Private Limited, India [U72300MH2009PTC192362] · ACG Pampac Machines Private Limited, India [U27299MH1987PTC044041] · ACG Pam Pharma Technologies Private Limited, India [U24239MH1972PTC015632] · ACG Korsch Compression Technologies Private Limited · ACG Pam Glatt Pharma Technologies Private Limited, India [U29251MH1996PTC104558] · Pam Indtech Machines Private Limited · Scitech Centre, India [U01110MH1971GAP015467] · ACG Ajas Components Private Limited, India [U29100MH1972PTC016053] · Adhikar Trading Company Limited · ACG Metal Crafts Private Limited (Formerly known as Nainital Engineers Private. Limited) · Jeet Merchantile Private Limited · Evita Estates Private. Limited · Packshield India Private Limited · PT Universal Capsules Indonesia Inc · AE Advisors Private Limited ( Formerly known as Amil Enterprise) Foreign Companies: · Americaps USA · Symtech International Limited, Dubai · First Ventures Limited, Dubai · Transworld Investments Limited, Dubai Firms and other
entities · Aries Components Manufacturing and Company · Centercorp · Reflection · CNS Trust · MNT Will Trust · Singh Family Trust · ACG Value Links LLP · Napean Holdings Reality LLP |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2400000 |
Equity Shares |
Rs. 5/- each |
Rs. 12.000
Millions |
|
30000 |
Preference Shares
|
Rs. 100/- each |
Rs. 3.000
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.15.000
Millions |
Issued, Subscribed and Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1138276 |
Equity Shares |
Rs. 5/- each |
Rs. 5.691
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 |
5.691 |
5.691 |
5.691 |
|
(b) Reserves & Surplus |
6429.094 |
5514.093 |
4583.905 |
|
(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) |
6434.785 |
5519.784 |
4589.596 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1633.666 |
1034.445 |
80.000 |
|
(b) Deferred tax liabilities
(Net) |
71.750 |
48.465 |
23.080 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
53.604 |
58.366 |
52.682 |
|
Total
Non-current Liabilities (3) |
1759.020 |
1141.276 |
155.762 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
781.014 |
1064.434 |
876.358 |
|
(b) Trade payables |
368.777 |
194.265 |
294.721 |
|
(c) Other current liabilities |
1,043.027 |
735.266 |
605.223 |
|
(d) Short-term provisions |
158.965 |
143.976 |
124.296 |
|
Total
Current Liabilities (4) |
2351.783 |
2137.941 |
1900.598 |
|
|
|
|
|
|
TOTAL |
10545.588 |
8799.001 |
6645.956 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1672.746 |
1395.729 |
732.439 |
|
(ii) Intangible Assets |
2.955 |
0.380 |
0.606 |
|
(iii) Capital work-in-progress |
746.938 |
94.881 |
363.871 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2985.007 |
1754.197 |
1556.569 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
250.964 |
354.822 |
203.842 |
|
(e) Other Non-current assets |
5.266 |
1.899 |
0.641 |
|
Total
Non-Current Assets |
5663.876 |
3601.908 |
2857.968 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
1129.247 |
711.040 |
504.439 |
|
(b) Inventories |
383.887 |
313.321 |
256.171 |
|
(c) Trade receivables |
1607.370 |
1155.227 |
958.009 |
|
(d) Cash and cash equivalents |
823.929 |
873.632 |
12.371 |
|
(e) Short-term loans and advances |
832.833 |
2021.389 |
1990.207 |
|
(f) Other current assets |
104.446 |
122.484 |
66.791 |
|
Total
Current Assets |
4881.712 |
5197.093 |
3787.988 |
|
|
|
|
|
|
TOTAL |
10545.588 |
8799.001 |
6645.956 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover Gross |
6662.497 |
5020.206 |
4254.064 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1508.444 |
1420.194 |
1202.161 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
473.286 |
475.385 |
366.662 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1035.158 |
944.809 |
835.499 |
|
|
|
|
|
|
|
|
|
Add /(Less) : |
PRIOR YEARS'
ADJUSTMENTS / EXCESS (SHORT) PROVISION FOR TAX |
3441.681 |
0.000 |
13.817 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(39.389) |
2620.101 |
1922.955 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
General Reserve |
0.000 |
0.000 |
150.000 |
|
|
|
General Reserve for Dividend Declaration |
150.000 |
110.000 |
0.000 |
|
|
|
Capital Redemption Reserves |
0.000 |
0.000 |
2.170 |
|
|
|
Dividend on Preference Shares |
0.000 |
0.000 |
0.000 |
|
|
|
Interim Dividend |
68.297 |
0.000 |
0.000 |
|
|
|
Dividend on Equity shares |
0.000 |
11.383 |
0.000 |
|
|
|
Tax on Dividend |
11.079 |
1.846 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
4208.074 |
3441.6821 |
2620.101 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
909.41 |
NA |
NA |
|
Expected Sales (2013-2014) : Rs.8000.000 Millions
The above information has been parted by Mr. Amar Mahindra (Assistant
Finance manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
22.14
|
20.43 |
25.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.26 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.38
|
0.38 |
0.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.08
|
2.43 |
1.99 |
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 |
5.691 |
5.691 |
5.691 |
|
Reserves & Surplus |
4,583.905 |
5,514.093 |
6,429.094 |
|
Net
worth |
4,589.596 |
5,519.784 |
6,434.785 |
|
|
|
|
|
|
long-term borrowings |
80.000 |
1,034.445 |
1,633.666 |
|
Short term borrowings |
876.358 |
1,064.434 |
781.014 |
|
Total
borrowings |
956.358 |
2,098.879 |
2,414.680 |
|
Debt/Equity
ratio |
0.208 |
0.380 |
0.375 |
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) |
|
Turnover Gross |
4254.064 |
5020.206 |
6662.497 |
|
|
|
18.010 |
32.714 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Turnover Gross |
4254.064 |
5020.206 |
6662.497 |
|
Profit |
835.499 |
944.809 |
1035.158 |
|
|
19.64% |
18.82% |
15.54% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
||
|
Current maturities of long-term debt |
282.464 |
43.257 |
37.910
|
|
|
|
|
|
|
Total |
282.464 |
43.257 |
37.910
|
|
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 |
Yes |
|
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
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
Yes |
|
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 |
No |
PERFORMANCE
The overall performance of Company in Financial Year 2012-13 has been very encouraging. This has been achieved through improved Plant Efficiencies, Cost Improvement and higher Sales Volumes at better price realization over the past year.
The Company was able to maintain its high sales value and profitability, despite scarcity of gelatin in local market (which it met by importing gelatin at much higher cost) and increased power tariff.
CORPORATE INFORMATION
Subject and its subsidiaries (collectively referred to as the 'Group') is the second largest manufacturers of Empty Hard Gelatin Capsules and HPMC Capsules. The Company is a major Pharmaceutical Supplier in the Globe for over 50 years. The manufacturing plants are located in and around Mumbai. The Company is ISO Certified having DMF Registration and USA FDA Approved Plants. The Company has worldwide operations, including Satellite Companies at North America, Europe and Brazil. The Company caters to over 100 countries in the World.
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Deferred sales tax loan |
42.090 |
42.090 |
|
Short-term
borrowings |
|
|
|
Loans and advances from directors |
688.167 |
980.555 |
|
Loans and advances from others |
92.847 |
83.879 |
|
Total |
823.104 |
1106.524 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10330738 |
21/12/2012 * |
970,000,000.00 |
STANDARD CHARTERED BANK |
19 RAJAJI SALAI, CHENNAI, TAMIL NADU - 600001, INDIA |
B65010670 |
|
2 |
80060327 |
13/06/2011 * |
423,000,000.00 |
STANDARD CHARTERED BANK (ACTING AS LEAD BANK FOR I |
CRESCENZO, 3A/F, PLOT NO. C-38 & 39, G BLOCK, BANDRA KURLA COMPLEX, BANDRA, MUMBAI, MAHARASHTRA - 400051, INDIA |
B14842884 |
|
3 |
90229198 |
13/06/2011 * |
423,000,000.00 |
STANDARD CHARTERED BANK (ACTING AS LEAD BANK FOR I |
CRESCENZO, 3A/F, PLOT NO. C-38 & 39, G BLOCK, BANDRA KURLA COMPLEX, BANDRA, MUMBAI, MAHARASHTRA - 400051, INDIA |
B14843114 |
|
4 |
90229192 |
27/03/1997 |
70,000,000.00 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA |
IDBI TOWER, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
- |
|
5 |
90228828 |
24/02/1997 * |
75,000,000.00 |
THE INDUSTRIAL CREDIT AND INVESTMENT CORPN. OF IND |
163; BACKBAY RECLAMATION, MUMBAI, MAHARASHTRA - 400020, INDIA |
- |
|
6 |
90228733 |
23/02/1994 |
37,500,000.00 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA |
CUFFE PARADE, COLABA, BOMBAY, MAHARASHTRA - 400005, INDIA |
- |
|
7 |
90228585 |
20/10/1992 |
15,000,000.00 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA |
CUFFE PARADE, COLABA, BOMBAY, MAHARASHTRA - 400005, INDIA |
- |
|
8 |
90227713 |
24/02/1997 * |
11,400,000.00 |
ANZ GRINDLAYS BANK LIMITED |
90; M. G. ROAD, MUMBAI, MAHARASHTRA - 400001, INDIA |
- |
|
9 |
90231308 |
21/11/1985 * |
200,000.00 |
BANK OF MAHARASHTRA |
SITABULDI, NAGPUR, MAHARASHTRA - 440012, INDIA |
- |
* Date of charge modification
CONTINGENT
LIABILITIES: (As on 31.03.2013)
· Claim against the company not acknowledged as debts Rs. 4.648 Millions (Previous year Rs.4.647 Millions)
· Disputed Income Tax liability in respect of which the Company/Income Tax department has preferred an appeal to higher authorities amounting to Rs. 78.004 Millions (Previous year Rs.74.698 Millions) which has not been provided for.
· Disputed Central Excise liability in respect of which the Company/Excise department has preferred an appeal to higher authorities amounting to Rs. 0.108 Million (Previous year Rs.1.637 Millions) which has not been provided for.
· Guarantees/Counter Guarantees provided by the company on behalf of others Rs. 465.600 Millions, as increased by the applicable interest accrued thereon, commission and all cost charges, expenses and other dues as applicable. (Previous year Rs.455.340 Millions).
· Bank guarantee issued by bank on behalf of company Rs.56.449 Millions (Previous year Rs.34.706 Millions).
· L/C issued to vendor against import obligation Rs.5.840 Millions (Previous year Rs.47.582 Millions)
· Domestic L/C Bill discounting of Rs. Nil (Previous year Rs. Nil)
Tangible assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Ships vessels
· Office equipment
· Computer equipments
Intangible assets
· Computer software
· Know-how
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.61.32 |
|
|
1 |
Rs.102.54 |
|
Euro |
1 |
Rs.84.19 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
62 |
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.