MIRA INFORM REPORT
|
Report Date : |
12.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
ALEMBIC PHARMACEUTICALS LIMITED (w.e.f. 12.03.2011) |
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Formerly Known
As : |
ALEMBIC PHARMA LIMITED |
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Registered
Office : |
Alembic Road, Vadodara-390002, Gujarat |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
16.06.2010 |
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Com. Reg. No.: |
061123 |
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Capital
Investment / Paid-up Capital : |
Rs.377.032
Millions |
|
|
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|
CIN No.: [Company Identification
No.] |
L24230GJ2010PLC061123 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDA03515B |
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PAN No.: [Permanent Account No.] |
AAICA5591M |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on The Stock Exchanges. |
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Line of Business
: |
Manufacturer of Pharmaceutical Products. |
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No. of Employees
: |
Information declined by the management
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RATING & COMMENTS
|
MIRA’s Rating : |
Ba (55) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 18000000 |
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|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having a good track record.
The operations of the company are carried out efficiently. The pharmaceutical undertaking of the ‘Alembic Limited’ has been
demerged and the same is transferred to the company with effect from 1st
April 2010. Financial position of the company appears to be sound and healthy.
Directors are reported as well experienced and knowledgeable businessmen. Trade relations are reported as trustworthy. Business is active.
Payment terms are reported as regular and as per commitments. The company 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
State-run banks hired nearly
300000 personnel including more than 94000 officers in the last four years, according
to the Indian Banks Association. A study by trade lobby Assocham in September
2013 indicated that banks would need 800000 people in the next six years. It
estimated that state-run lenders alone would hire 50000 people in 2013/14.
The Competition Commission of
India plans to issue final orders within a broad time-frame of one year in
matters where it decides to carry out detailed investigations. The number of
complaints received by the watchdog which keeps tabs on unfair trade practices
in the marketplace.
The government has detected
custom tax evasion totaling around Rs 37920 mn in 14 states until December.
Maharashtra topped the list of Rs 14190 mn followed by Andhra Pradesh at Rs 8140
mn, Gujarat Rs 5240 mn, Karnataka Rs 1670 mn and Tamilnadu Rs 1610 mn.
Connaught Place in New Delhi
slipped four notches to become the world’s eighth most expensive office
locations. London’s West End is the world’s most expensive office market.
There are 4.072 mn number of
high value spenders under the scanner of the income tax department. The income
tax department has information that they have made cash deposits announcing to
Rs 1 mn or more in their savings bank accounts in the current financial year.
It plans to check potential evasion before the closing of the financial year on
March 31.
Estimated pharmaceutical sales
in the country for 2016 is $ 27 bn. It is 14.4 per cent higher than a year ago.
The life sciences and health care industry is up against challenges such as
quality management, says a recent Deloitte report.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: AA |
|
Rating Explanation |
Have degree of safety and carry very low credit risk. |
|
Date |
04.10.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: A1+ |
|
Rating Explanation |
Have very strong degree of safety and carry lowest credit risk. |
|
Date |
04.10.2013 |
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 DECLINED
MANAGEMENT NON – COOPERATIVE (91-265-2280550)
LOCATIONS
|
Registered Office / Factory 1 : |
Alembic Road, Vadodara-390002, Gujarat, India |
|
Tel. No.: |
91-265-2280550/2280880 |
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Fax No.: |
91-265-2281508/22847283053333/300 |
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E-Mail : |
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Website : |
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Marketing Office: |
2nd Floor ,
Prime Corporate Park, Behind ITC Grand Maratha Sheraton, Sahar Road, Andheri (E),
Mumbai - 400099, Maharashtra, India |
|
Tel. No.: |
91 22 30611698 |
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Fax No.: |
91 22 30611682 |
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Factory 2 : |
Plot No.21/22, EPIP-Phase-I, Jhamajri, Baddi, Tehsil – Nalagarh, Solan
– 173205, Himachal Pradesh, India |
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Factory 3 : |
Village Karakhadi, Taluka Padra, District Vadodara, Gujarat, India |
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Factory 4 : |
Panelav, Tal. Halol, District Panchmahal-389350, Gujarat, India |
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. Chirayu Ramanbhai Amin |
|
Designation : |
Chairman and Managing Director |
|
Address : |
F 10/195, Race Course Circle, Gorti Road, Vadodara – 390007, Gujarat,
India |
|
Date of Birth/Age : |
04.12.1946 |
|
|
|
|
Name : |
Mr. Krishnapuram Ramanathan |
|
Designation : |
Director |
|
Address : |
Srinidhi Bunglow, No. 1, Octroi Naka, Gorti Road, Vadodara – 390007,
Gujarat, India |
|
Date of Birth/Age : |
15.05.1939 |
|
|
|
|
Name : |
Mr. Rajkumar Shreeram Baheti |
|
Designation : |
Director and President-Finance |
|
Address : |
Flat No.402, Samprat Residency, 52, Alkapuri Society, Alkapuri,
Vadodara – 390007, Gujarat, India |
|
Date of Birth/Age : |
24.10.1959 |
|
|
|
|
Name : |
Mr. Pranav Natverlal Parikh |
|
Designation : |
Director |
|
Address : |
18 A, Manek, LD Ruparel Marg, Malbar hill, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
18.02.1943 |
|
|
|
|
Name : |
Mr. Paresh Saraiya |
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Designation : |
Director |
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|
Name : |
Mr. Pranav Amin |
|
Designation : |
Director and President-International Business |
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|
Name : |
Mr. Milin Mehta |
|
Designation : |
Director |
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|
Name : |
Mr. Shaunak Amin |
|
Designation : |
Director & President-Branded Formulations Business (w.e.f. 2nd May, 2013) |
KEY EXECUTIVES
|
Name : |
Mr. Rajkumar Shreeram Baheti |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2013
|
Category of Shareholder |
Total
No. of Shares |
Total
Shareholding as a % of Total No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
13402430 |
7.11 |
|
|
126336190 |
67.02 |
|
|
139738620 |
74.13 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
139738620 |
74.13 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
1867156 |
0.99 |
|
|
884166 |
0.47 |
|
|
16387098 |
8.69 |
|
|
3600 |
0.00 |
|
|
750 |
0.00 |
|
|
2850 |
0.00 |
|
|
19142020 |
10.15 |
|
|
|
|
|
|
1752623 |
0.93 |
|
|
|
|
|
|
21126874 |
11.21 |
|
|
5955894 |
3.16 |
|
|
799883 |
0.42 |
|
|
231310 |
0.12 |
|
|
10280 |
0.01 |
|
|
558293 |
0.30 |
|
|
29635274 |
15.72 |
|
Total Public shareholding (B) |
48777294 |
25.87 |
|
Total (A)+(B) |
188515914 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
188515914 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pharmaceutical Products. |
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Installed
Capacity |
*Actual
Production |
|
Bulk Drugs and Chemical and Intermediates |
MMU/MT |
# |
673.454 |
|
Formulations: |
|
|
|
|
Tablets and Capsules |
Million Nos. |
4653.000 |
3343.895 |
|
Injectables |
Million Nos. |
-*** |
84.747 |
|
Oral Preparation and Ointments |
MT |
10182.616 |
9272.980 |
NOTE:
* Including
production on loan licence basis, captive consumption, samples and purchases of
finished products.
# Installed
Capacity: The Installed capacity is flexible as the plant is versatile;
enabling the Company to produce in different capacity and therefore, it varies
depending upon the product programme.
*** Entire production is on loan license basis.
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management
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Bankers : |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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|
Name : |
K.S. Aiyar and Company Chartered Accountants |
|
Address : |
Laxmi Estate No. F-07/08, Shakti Mills Lane, Off Dr. E. Moses Road,
Mahalaxmi, Mumbai-400011, Maharashtra, India |
|
Tel No.: |
91-22-24932502/66551770 |
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Fax No.: |
91-22-66551774 |
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Email: |
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Website: |
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Subsidiary and Fellow Subsidiary:: |
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Associate Companies: |
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CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000000 |
Equity Shares |
Rs.2/- each |
Rs.400.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
188515914 |
Equity Shares |
Rs.2/- each |
Rs.377.032
Millions |
Note:
Reconciliation of the number of shares outstanding at the beginning and
at the end of the reporting period ;
|
|
As on 31.03.2013 |
|
|
|
No. of Shares |
Rs. in Millions |
|
At the beginning of the period |
18,85,15,914 |
377.032 |
|
Issued during the period |
-- |
-- |
|
Outstanding at the end of the period |
118,85,15,914 |
377.032 |
The rights, preferences and restrictions including restrictions on the
distribution of dividends and the repayment of capital;
The company is having only one class of shares
i.e Equity carrying a nominal value of H 2/- per share
Every holder of the equity share of the
Company is entitled to one vote per share held In the event of liquidation of
the Company, the equity shareholders will be entitled to receive remaining
assets of the Company after the distribution / repayment of all creditors. The
distribution to the equity shareholders will be in proportion of the number of
shares held by each shareholder
The Company declares and pays dividend on the
equity shares in Indian Rupees. Dividend proposed by the Board of Directors is
subject to approval of the shareholders at the ensuing Annual General Meeting.
During the year ended 31st March, 2013 an
amount of H 2.50 of dividend per equity share was proposed for the equity
shareholders
(PY H 1.40 per equity share)
Shares in the company held by each shareholder holding more than 5
percent shares specifying the number of shares held
|
|
As on 31.03.2013 |
|
|
|
No. of Shares |
% of Held |
|
Alembic Limited |
55000000 |
29.18% |
|
Shreno Limited |
18368780 |
9.74% |
|
Sierra Investments Limited |
17167670 |
9.11% |
|
Whitefield Chemtech Limited |
18285230 |
9.70% |
|
Nirayu Private Limited |
16213755 |
8.60% |
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 |
377.032 |
377.032 |
377.032 |
|
(b) Reserves & Surplus |
4220.606 |
3231.592 |
2385.064 |
|
(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) |
4597.638 |
3608.624 |
2762.096 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
705.347 |
948.567 |
1284.837 |
|
(b) Deferred tax liabilities (Net) |
138.969 |
95.290 |
53.746 |
|
(c) Other long term
liabilities |
127.607 |
122.907 |
118.417 |
|
(d) long-term
provisions |
60.606 |
53.904 |
51.016 |
|
Total Non-current
Liabilities (3) |
1032.529 |
1220.668 |
1508.016 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
701.145 |
1384.349 |
1462.768 |
|
(b) Trade payables |
2342.456 |
1819.275 |
1317.541 |
|
(c) Other current
liabilities |
692.529 |
1516.044 |
849.005 |
|
(d) Short-term
provisions |
620.550 |
356.634 |
259.085 |
|
Total Current
Liabilities (4) |
4356.680 |
5076.302 |
3888.399 |
|
|
|
|
|
|
TOTAL |
9986.847 |
9905.594 |
8158.511 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3442.215 |
2678.186 |
2719.854 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
322.618 |
582.397 |
265.030 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
33.542 |
33.542 |
33.542 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
358.788 |
349.913 |
65.447 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
4157.163 |
3644.038 |
3083.873 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
2668.333 |
2587.415 |
2192.319 |
|
(c) Trade receivables |
2323.830 |
1868.328 |
2019.739 |
|
(d) Cash and cash
equivalents |
42.497 |
257.339 |
12.880 |
|
(e) Short-term loans
and advances |
795.024 |
1548.474 |
849.700 |
|
(f) Other current
assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
5829.684 |
6261.556 |
5074.638 |
|
|
|
|
|
|
TOTAL |
9986.847 |
9905.594 |
8158.511 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
14926.383 |
13743.043 |
11649.258 |
|
|
|
Other Income |
39.320 |
14.207 |
0.833 |
|
|
|
TOTAL (A) |
14965.703 |
13757.250 |
11650.091 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
4702.977 |
5282.376 |
4349.443 |
|
|
|
Purchase of Finished Goods |
1655.905 |
1677.929 |
1285.731 |
|
|
|
Changes in Inventories of Finished Goods and Work in Process |
213.401 |
(644.398) |
(47.219) |
|
|
|
Employee Benefit Expenses |
1937.897 |
1684.582 |
1492.143 |
|
|
|
Research and Development Expenses |
736.328 |
585.821 |
471.318 |
|
|
|
Other Expenses |
3242.227 |
3070.835 |
2540.573 |
|
|
|
TOTAL (B) |
12488.735 |
11657.145 |
10091.989 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2476.968 |
2100.105 |
1558.102 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
145.743 |
262.134 |
238.887 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2331.225 |
1837.971 |
1319.215 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
349.646 |
336.458 |
295.883 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
1981.579 |
1501.513 |
1023.332 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
407.143 |
296.162 |
208.261 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1574.436 |
1205.351 |
815.071 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
536.300 |
216.800 |
815.000 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Debenture Redemption Reserve |
0.000 |
79.200 |
79.200 |
|
|
|
Provision for Dividend - Equity Shares |
471.300 |
263.900 |
188.500 |
|
|
|
Provision for Corporate Dividend tax |
80.100 |
42.800 |
30.500 |
|
|
|
Transfer to General Reserve |
800.000 |
500.000 |
300.000 |
|
|
BALANCE CARRIED
TO THE B/S |
759.400 |
536.3000 |
216.800 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
4650.158 |
4679.560 |
3604.849 |
|
|
|
Royalty |
152.168 |
116.044 |
4.738 |
|
|
TOTAL EARNINGS |
4802.326 |
4795.604 |
3609.587 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1554.182 |
1863.148 |
1788.218 |
|
|
|
Packing Material , Components and Spare parts |
90.897 |
21.803 |
43.514 |
|
|
TOTAL IMPORTS |
1645.079 |
1884.951 |
1831.732 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.35 |
6.39 |
4.32 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2013 |
|
Type |
1st
Quarter |
|
Net Sales |
4268.400 |
|
Total Expenditure |
3525.500 |
|
PBIDT (Excl OI) |
742.900 |
|
Other Income |
0.200 |
|
Operating Profit |
743.100 |
|
Interest |
14.700 |
|
Exceptional Items |
0.000 |
|
PBDT |
728.400 |
|
Depreciation |
95.300 |
|
Profit Before Tax |
633.100 |
|
Tax |
138.400 |
|
Provisions and contingencies |
0.000 |
|
Profit After Tax |
494.700 |
|
Extraordinary Items |
0.000 |
|
Prior Period Expenses |
0.000 |
|
Other Adjustments |
0.000 |
|
Net Profit |
494.700 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
10.52
|
8.76 |
7.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
12.85
|
10.93 |
8.78 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.57
|
16.16 |
13.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.43
|
0.42 |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.31
|
0.65 |
0.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.34
|
1.23 |
1.31 |
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 |
377.032 |
377.032 |
377.032 |
|
Reserves & Surplus |
2385.064 |
3231.592 |
4220.606 |
|
Net
worth |
2,762.096 |
3,608.624 |
4,597.638 |
|
|
|
|
|
|
long-term borrowings |
1284.837 |
948.567 |
705.347 |
|
Short term borrowings |
1462.768 |
1384.349 |
701.145 |
|
Total
borrowings |
2,747.605 |
2,332.916 |
1,406.492 |
|
Debt/Equity
ratio |
0.995 |
0.646 |
0.306 |
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 |
11649.258 |
13743.043 |
14926.383 |
|
|
|
17.974 |
8.610 |
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 |
11649.258 |
13743.043 |
14926.383 |
|
Profit |
815.071 |
1205.351 |
1574.436 |
|
|
7.00% |
8.77% |
10.55% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Deposits |
|
|
|
Deposits from Shareholders |
41.930 |
15.930 |
|
Deposits from Public Interest rate varying from 9% to 11% and maturity period is 12 / 24 /
36 months |
66.337 |
169.152 |
|
Others Repayable in 10 equal yearly installments of H2.8.500 Millions each
commencing from Oct-2004. Interest rate 3% |
0.000 |
0.285 |
|
Short-term
borrowings |
|
|
|
Others varying Coupon repayable within 180 days with an option of roll over |
597.080 |
898.605 |
|
Commercial Paper Coupon of 10.20% repayable within 90 days |
0.000 |
250.000 |
|
Total |
705.347 |
1333.972 |
OPERATIONS:
The Company’s Standalone revenues from operations were H1, 4926.200 Millions
for the year ended 31st March, 2013 as compared to H1, 3743.000 Millions for
the previous year.
The standalone profit before Interest, Depreciation, Non-recurring
Income and expenses and Taxes was H 2437.600 Millions for the year as compared
to H 2085.900 Millions for the previous year.
During the year, the interest and financing cost was H 145.700 Millions
as compared to H 262.100 Millions in previous year. The Company has registered
consolidated revenues from operations of H 15203.400 Millions for the year as
compared to H1, 4654.100 Millions for the previous year.
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10323112 |
02/12/2011 |
780,000,000.00 |
DBS BANK LIMITED |
UPPER GROUND
FLOR, BIRLA TOWER,, 25 BARAKHAMBA RO |
B27859248 |
|
2 |
10296745 |
30/06/2011 |
2,420,000,000.00 |
BANK OF BARODA AND OTHER BANKS |
FIRST FLOOR,
BANK OF BARODA BUILDING, R. C. DUTT |
B16625071 |
UNAUDITED FINANCIAL
RESULTS FOR THE PERIOD ENDED 31ST DECEMBER 2013
(Rs.
in Millions)
|
|
Quarter
Ended |
Period
Ended |
|
|
Particulars |
31.12.2013 |
30.09.2013 |
31.12.2013 |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
PART- I |
|
|
|
|
(a) Net Sales / Income from Operations |
|
|
|
|
Domestic |
2749.200 |
2865.500 |
8054.700 |
|
Exports |
2027.700 |
2000.200 |
5872.400 |
|
Total |
4776.900 |
4865.700 |
13927.100 |
|
Less :
Excise Duty |
18.700 |
17.700 |
58.200 |
|
Net Sales
/ Income from Operations |
4758.200 |
4848.000 |
13868.900 |
|
(b) Other Operating Income |
7.800 |
4.600 |
18.100 |
|
Total
Income from Operations |
4766.000 |
4852.600 |
13887.000 |
|
Expenses |
|
|
|
|
(a) Decrease/(increase) in stock in trade and
work in progress |
(242.400) |
(74.400) |
(447.200) |
|
(b) Consumption of Raw Materials & Packing
Materials |
1514.400 |
1376.400 |
4250.500 |
|
(c) Purchase of traded goods |
479.900 |
593.000 |
1567.900 |
|
(d) Employees' Cost |
620.200 |
593.100 |
1776.900 |
|
(e) Research and Development Expense |
272.700 |
312.100 |
791.700 |
|
(f) Excise Duty |
7.600 |
20.800 |
36.300 |
|
(g) Other Expenditure |
1081.800 |
1082.600 |
3187.200 |
|
Total
Expenses |
3734.200 |
3903.600 |
11163.300 |
|
Profit
from Operations before Other Income, Interest, Depreciation & Exceptional
Items |
1031.800 |
949.000 |
2723.700 |
|
Other
Income |
2.000 |
2.000 |
4.200 |
|
Profit/(Loss)
from Ordinary Activities before Interest, |
1033.800 |
951.000 |
2727.900 |
|
Depreciation,
& Exceptional Items |
101.200 |
98.500 |
295.000 |
|
Depreciation
Interest (Net) |
34.800 |
25.700 |
75.200 |
|
Net Profit
/ (Loss) from Ordinary Activities before Tax |
897.800 |
826.800 |
2357.700 |
|
Tax
Expense |
|
|
|
|
Less :
Provision for Current Tax |
188.200 |
173.900 |
494.800 |
|
Less /Add
: Provision for Deferred Tax Liability/(Assets) |
31.200 |
14.600 |
51.500 |
|
Net Profit
/ (Loss) from Ordinary Activities after Tax |
678.400 |
638.300 |
1811.400 |
|
Paid up
Equity Share Capital |
377.000 |
377.000 |
377.000 |
|
( Face
value of share Rs. 2/- ) |
|
|
|
|
Reserves
excluding Revaluation Reserve |
|
|
|
|
Basic
& Diluted EPS (Not Annualised) |
3.60 |
3.39 |
9.61 |
|
Debt
Equity Ratio |
|
|
|
|
PART- II |
|
|
|
|
Particulars of Shareholding |
|
|
|
|
Public
Shareholding |
|
|
|
|
- Number
of Shares |
48777294 |
48777294 |
48777294 |
|
- Percentage
of Shareholding |
25.87 |
25.87 |
25.87 |
|
Promoters
and Promoter Group Shareholding |
|
|
|
|
- Fully
Non - Encumbered |
|
|
|
|
- Number
of Shares |
139738620 |
139738620 |
139738620 |
|
- Percentage
of Shares (as a % of the total shareholding of promoter and promoter group) |
100.00 |
100.00 |
100.00 |
|
-
Percentage of Shares (as a % of the total share capital of the Company) |
74.13 |
74.13 |
74.13 |
|
INVESTOR COMPLAINTS |
Quarter
Ended 31.12.2013 |
|
|
|
Pending at
the beginning of the quarter |
NIL |
|
|
|
Received
during the quarter |
3 |
|
|
|
Disposed
of during the quarter |
3 |
|
|
|
Remaining
unresolved at the end of the quarter |
NIL |
|
|
NOTE:
The above results, have been duly reviewed by Statutory Auditor, recommended by the Audit Committee and approved by the Board of Directors. However, the unaudited results of the Subsidiary included in above have not been reviewed by Statutory Auditor. The Company has opted to publish consolidated financial results, pursuant to option made available as per clause 41 of the listing Agreement.
The Company is engaged in Pharmaceuticals business only and therefore, there is
only one reportable segment in accordance with the Accounting Standard on
Segment Reporting (AS-17).
The previous quarter's / year's figures have been regrouped / rearranged
wherever necessary to make it comparable with the current quarter / year.
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
i) Letter of credit, Guarantees and counter
guarantees |
192.170 |
133.425 |
|
ii) Liabilities Disputed in appeals |
|
|
|
- Excise duty |
75.983 |
74.522 |
|
- Sales Tax |
38.393 |
32.452 |
|
- Income Tax |
0.458 |
0.000 |
|
- Stamp Duty |
50.119 |
50.119 |
|
iii) Claims against the company not
acknowledged as debt |
34.264 |
35.66 |
|
iv) Non fulfi lment of export obligation
against advance licenc |
2.373 |
14.500 |
|
v) Disputed liability in respect of Ministry
of Industry, Department of Chemicals and Petrochemicals in respect of price of
Rifampicin allowed in formulations and landed cost of import. |
3.493 |
3.493 |
FIXED ASSETS
- Free Hold
Land
- Lease Hold
Land
- Buildings
- Employees
Quarters
- Plant and
Equipments
- R and D
Equipments
- Furniture and
Fixtures
- Vehicles
- 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.60.70 |
|
|
1 |
Rs.100.97 |
|
Euro |
1 |
Rs.84.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
55 |
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.