MIRA INFORM REPORT
|
Report Date : |
10.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
DR.DATSONS
LABS LIMITED (w.e.f. 02.09.2013) |
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|
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|
Formerly Known
As : |
AANJANEYA LIFECARE LIMITED (w.e.f. 19.06.2010) AANJANEYA
BIOTECH LIMITED (w.e.f. 12.04.2010) AANJANEYA
BIOTECH PRIVATE LIMITED (w.e.f. 08.03.2007) ANJANEYA
BIOTECH PRIVATE LIMITED |
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Registered
Office : |
K 4/1, Additional MIDC, Mahad – 402309, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
03.01.2006 |
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Com. Reg. No.: |
11-158589 |
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Capital
Investment / Paid-up Capital : |
Rs.138.870 Millions |
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CIN No.: [Company Identification
No.] |
L24230MH2006PLC158589 |
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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 Pharmaceuticals. |
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 12400000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having a moderate track record. The company has witnessed a drastic dip in its net profitability which
has harshly affected its profit margin during 2013. However, the financial
position appears to be decent marked by strong net worth position. Trade relations are fair. Business is active. Payment terms are
reported as slow but correct. The subject can be considered for business dealings with some caution. |
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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects positive
impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1 million
Indian tourists in 2012), Thailand (one million), the United Arab Emirates
().98 million) and Malaysia ().82 million) emerged as the preferred holidays
hotspots for Indians. The total figure is expected to increase to 1.93 million
by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
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 DENIED
Management Non Co-Operative (91-22-25264500)
LOCATIONS
|
Registered Office/ Manufacturing
Facility - 1 (API and R and D center) : |
K 4/1, Additional MIDC, Mahad – 402309, Maharashtra, India |
|
Tel. No.: |
91-2145-235600/250115 |
|
Fax No.: |
91-2145-235602/250116 |
|
E-Mail : |
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|
Website : |
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|
Corporate Office : |
Plot No 34, Postal Colony, Chembur, Mumbai – 400071, Maharashtra,
India |
|
Tel. No.: |
91-22-25264500 |
|
Fax No.: |
91-22-25223251 |
|
|
|
|
Manufacturing
Facility - 2 (Formulations) : |
Gat No. 123, Pirungut, Mulshi Taluka, Pune - 412108 Maharashtra,
India. |
|
Tel. No.: |
91-20-67908400/66750552 |
|
Fax No.: |
91-20-67908403/66750600 |
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. Chandulal Shah |
|
Designation : |
Chairman Emeritus |
|
Qualification : |
Bachelor’s degree in science with chemistry and physics |
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|
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|
Name : |
Dr. Kannan Vishwanath |
|
Designation : |
Vice Chairman and Managing Director |
|
Qualification : |
Doctorate In Business Management (Ph.D). |
|
Date of Birth / Age : |
38 Years |
|
|
|
|
Name : |
Mr. Shashikant Shinde |
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Designation : |
Executive - Wholetime Director |
|
Qualification : |
61 Years |
|
Date of Birth / Age : |
Master’s Degree In Management from Marathwada University |
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|
|
|
Name : |
Mr. Prabhat Kumar Goyal |
|
Designation : |
Executive - Wholetime Director |
|
|
59 Years |
|
Qualification : |
Postgraduate In Organic Chemistry from Vikram University |
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|
|
Name : |
Dr. Ullooppee Badade |
|
Designation : |
Non-Executive - Independent Director |
|
Date of Birth / Age : |
44 Years |
|
Qualification : |
M.B.B.S. and M.B.A. in Hospital Administration |
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|
|
|
Name : |
Mr. Balkrishna Parab |
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Designation : |
Non-Executive - Independent Director |
|
Date of Birth / Age : |
42 Years |
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Qualification : |
Bachelor’s degree in Commerce from the University of Mumbai |
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|
|
|
Name : |
Mr. Giridhar Gopal Pulleti |
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Designation : |
Non-Executive - Independent Director |
|
Date of Birth / Age : |
45 Years |
|
Qualification : |
Master’s Degree In Science. |
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|
|
|
Name : |
Mr. Minhaj Khan |
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Designation : |
Non-Executive - Independent Director |
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Date of Birth / Age : |
33 Years |
|
Qualification : |
Chartered Accountant |
KEY EXECUTIVES
|
Name : |
Mr. Narendra Agarwal |
|
Designation : |
Chief Financial
Officer |
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|
|
|
Name : |
Mr.
Yogesh Patel |
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Designation : |
Company
Secretary and Compliance Officer |
SHAREHOLDING PATTERN
As on 31.04.2014
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
2268400 |
7.17 |
|
|
900000 |
2.84 |
|
|
3168400 |
10.01 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
3168400 |
10.01 |
|
(B)
Public Shareholding |
|
|
|
|
|
|
|
|
17978124 |
56.79 |
|
|
17978124 |
56.79 |
|
|
|
|
|
|
9177259 |
28.99 |
|
|
|
|
|
|
767328 |
2.42 |
|
|
324648 |
1.03 |
|
|
239516 |
0.76 |
|
|
37429 |
0.12 |
|
|
202087 |
0.64 |
|
|
10508751 |
33.20 |
|
Total
Public shareholding (B) |
28486875 |
89.99 |
|
Total
(A)+(B) |
31655275 |
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) |
31655275 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pharmaceuticals. |
PRODUCTION STATUS (As on 31.03.2013)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Bulk Drugs |
MT |
650000000 |
203700000 |
|
Formulation |
Unit In Thousand
|
1571650 |
78457924 |
Note:
For API’s, the reactors installed are to be of larger capacity so as to accommodate herbal based raw material inputs whose yield can vary from crop to crop. The reactors are also multipurpose in nature. Hence there is no direct correlation between installed capacity and actual production. During FY 12-13 the value of manufacturing API is high although quantity less.
- The Formulations business commenced only from 1st April 2010.
- In terms of press Note no. 4 (1994 series) dated October 25, 1994 issued by the department of Industrial Development, Ministry of Industry, Government of India and Notification no. S.O. 137 (E) dated March 01, 1999 issued by the Department of Industrial Policy and Promotion, Ministry of Industry, Government of India, Industrial licensing has been abolished in respect of bulk drugs and formulations. Hence there are no registered / licensed capacities for these bulk drugs and formulations.
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
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Bankers : |
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Facilities : |
Long Term Borrowings (All Secured against first charge on immovable assets and second
charge on movable assets of the Company) |
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Banking
Relations : |
-- |
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Auditors : |
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Statutory
Auditors : |
Agarwal, Desai and Shah Chartered Accountants |
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Internal
Auditors : |
Milind Mehta and Company Chartered Accountants |
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Cost
Auditors : |
Aatish Dhatrak and Associates Chartered Accountants |
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Corporate
Advisors : |
Athos Capital Advisors Private Limited |
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Solicitors : |
Crawford Bayley and Company |
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Subsidiary
Company : |
* Holding Company till May 2011 |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13887151 |
Equity Shares |
Rs.10/- each |
Rs.138.870 Millions |
Details of equity shares held by shareholders holding more than 5%
shares:
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Finaventure Capital Limited |
3451765 |
24.86% |
|
Kannan Vishwanath |
2272641 |
16.37% |
|
Religare
Securities Limited |
1865641 |
13.43% |
|
Apex Drugs and
Intermediates Limited |
1310484 |
9.44% |
|
Prime Broking Company (India) Limited |
1125183 |
8.10% |
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 |
138.870 |
138.870 |
75.767 |
|
(b) Reserves & Surplus |
2955.810 |
3359.140 |
1268.094 |
|
(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) |
3094.680 |
3498.010 |
1343.861 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3588.130 |
1016.790 |
571.486 |
|
(b) Deferred tax liabilities (Net) |
166.070 |
143.850 |
49.819 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
1.820 |
1.470 |
0.997 |
|
Total Non-current
Liabilities (3) |
3756.020 |
1162.110 |
622.302 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1912.160 |
1969.090 |
816.965 |
|
(b) Trade
payables |
1588.630 |
400.680 |
-60.308 |
|
(c) Other
current liabilities |
43.200 |
23.230 |
21.443 |
|
(d) Short-term
provisions |
55.520 |
126.360 |
204.567 |
|
Total Current
Liabilities (4) |
3599.510 |
2519.360 |
982.667 |
|
|
|
|
|
|
TOTAL |
10450.210 |
7179.480 |
2948.830 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
2084.600 |
2138.540 |
703.469 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
1640.910 |
1442.380 |
466.829 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
23.980 |
7.770 |
0.502 |
|
(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 |
2.530 |
2.530 |
0.000 |
|
Total Non-Current
Assets |
3752.020 |
3591.220 |
1170.800 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1664.940 |
1375.170 |
823.730 |
|
(c) Trade
receivables |
2723.710 |
2005.750 |
904.591 |
|
(d) Cash
and cash equivalents |
2123.310 |
41.460 |
6.662 |
|
(e)
Short-term loans and advances |
40.700 |
9.370 |
0.024 |
|
(f) Other
current assets |
145.530 |
156.510 |
43.023 |
|
Total
Current Assets |
6698.190 |
3588.260 |
1778.030 |
|
|
|
|
|
|
TOTAL |
10450.210 |
7179.480 |
2948.830 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5207.570 |
4799.640 |
3202.598 |
|
|
|
Other Income |
47.080 |
23.570 |
1.948 |
|
|
|
TOTAL (A) |
5254.650 |
4823.210 |
3204.546 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
3978.900 |
3696.870 |
2458.764 |
|
|
|
Purchases of Stock-in-Trade |
9.760 |
2.600 |
11.558 |
|
|
|
Changes in inventories of finished goods work-in-progress and Stock-in-Trade |
(119.910) |
(167.450) |
(143.343) |
|
|
|
Manufacturing Expenses |
96.850 |
94.140 |
54.454 |
|
|
|
Employee benefits expense |
97.260 |
56.420 |
46.256 |
|
|
|
Administrative Expenses |
101.200 |
46.870 |
50.759 |
|
|
|
Selling Expenses |
15.140 |
16.140 |
17.673 |
|
|
|
Prior Period Expenses |
0.440 |
0.010 |
0.607 |
|
|
|
Exceptional Items |
448.620 |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
4628.260 |
3745.600 |
2496.728 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
656.390 |
1077.610 |
707.818 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
426.450 |
290.500 |
136.104 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
229.940 |
787.110 |
571.714 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
202.220 |
156.650 |
25.836 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
27.720 |
630.460 |
545.878 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
22.220 |
220.170 |
185.750 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
5.500 |
410.290 |
360.128 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
995.450 |
585.160 |
225.032 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend For FY 2011-12 |
27.770 |
0.000 |
0.000 |
|
|
|
Proposed
Dividend |
1.390 |
0.000 |
0.000 |
|
|
|
Corporate
Dividend Tax |
4.730 |
0.000 |
0.000 |
|
|
|
Transferred to
General reserves |
100.090 |
0.000 |
0.000 |
|
|
|
Reduction in
Valuation of Opening Stock |
476.770 |
0.000 |
0.000 |
|
|
|
Excess Provision for Taxation of Earlier Year |
(110.550) |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
500.750 |
995.450 |
585.160 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of goods exported |
89.506 |
402.011 |
116.253 |
|
|
TOTAL EARNINGS |
89.506 |
402.011 |
116.253 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
29.950 |
67.690 |
105.871 |
|
|
|
Capital Goods |
2.610 |
0.000 |
5.093 |
|
|
TOTAL IMPORTS |
32.560 |
67.690 |
110.964 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.40 |
29.54 |
52.00 |
|
QUARTERLY RESULTS
|
Particulars |
30.06.2013 Unaudited |
30.09.2013 Unaudited |
31.12.2013 Unaudited |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net sales |
1176.900 |
1320.000 |
1505.700 |
|
Total Expenditure |
969.000 |
1149.900 |
1299.900 |
|
PBIDT (Excluding Other Income) |
207.900 |
170.100 |
205.800 |
|
Other income |
0.000 |
0.400 |
(0.100) |
|
Operating Profit |
207.900 |
170.500 |
205.700 |
|
Interest |
117.400 |
83.100 |
126.700 |
|
Exceptional Items |
0.000 |
(1.800) |
0.000 |
|
PBDT |
90.500 |
85.600 |
79.000 |
|
Depreciation |
51.000 |
51.500 |
51.500 |
|
Profit Before Tax |
39.500 |
34.100 |
27.500 |
|
Tax |
7.200 |
16.700 |
8.900 |
|
Profit after tax |
32.400 |
17.400 |
18.600 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
32.400 |
17.400 |
18.600 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.10 |
8.51 |
11.24 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.53 |
13.14 |
17.04 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.32 |
11.01 |
22.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.18 |
0.41 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.78 |
0.85 |
1.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.86 |
1.42 |
1.81 |
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 |
75.767 |
138.870 |
138.870 |
|
Reserves & Surplus |
1268.094 |
3359.140 |
2955.810 |
|
Net
worth |
1343.861 |
3498.010 |
3094.680 |
|
|
|
|
|
|
long-term borrowings |
571.486 |
1016.790 |
3588.130 |
|
Short term borrowings |
816.965 |
1969.090 |
1912.160 |
|
Total
borrowings |
1388.451 |
2985.880 |
5500.290 |
|
Debt/Equity
ratio |
1.033 |
0.854 |
1.777 |
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 |
3,202.598 |
4,799.640 |
5,207.570 |
|
|
|
49.867 |
8.499 |
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
|
3,202.598 |
4,799.640 |
5,207.570 |
|
Profit |
360.128 |
410.290 |
5.500 |
|
|
11.24% |
8.55% |
0.11% |
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 |
Yes |
|
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 |
No |
|
LITIGATION DETAILS |
|||||||
|
Bench:- Bombay |
|||||||
|
Lodging No. : |
CPL/50/2014 |
Failing Date:- |
30/01/2014 |
Reg. No.:- |
CP/328/2014 |
Reg.
Date:- |
08/05/2014 |
|
|
|||||||
|
Petitioner:- |
IFCI FACTORS LIMITED |
Respondent:- |
DR. DATSONS LABS LIMITED (CIN No.: L24230MH2006PLC158589) |
||||
|
Petn.Adv:- |
M/S. K. ASHAR AND COMPANY (170) |
|
|
||||
|
District:- |
OUTSIDE MAHARASHTRA |
||||||
|
|
|||||||
|
Bench:- |
DIVISION |
Category:- |
COMPANY PETITION U/SEC 433,434,439 COMPANIES ACT |
||||
|
Status:- |
Pre-Admission |
Stage:- |
|
||||
|
Last Date:- |
06/01/2014 |
|
|||||
|
Last Coram:- |
REGISTRAR (OS) / PROTHONOTARY AND SR. MASTER. |
||||||
|
|
|
||||||
|
Act. : |
Companies Act and Rules 1956 |
Under Section: 433(E) and 434 |
|||||
UNSECURED LOAN:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Loans and Trade
Advances Received : |
|
|
|
Loans from directors / shareholders |
373.680 |
272.850 |
|
Loans and Advances from company others |
536.490 |
166.520 |
|
Foreign Currency Convertible Bonds |
2175.600 |
0.000 |
|
Short Term Borrowings |
|
|
|
WCDL from Other Banks |
600.430 |
607.060 |
|
Director’s Current A/c |
16.480 |
0.000 |
|
Total |
3702.680 |
1046.430 |
YEAR IN RETROSPECT
- The Company’s Sales increased by 8.50% from
Rs.4799.640 Millions in the previous year to Rs.5207.570 Millions in the
current year.
- EBITDA increased by 2.58% from Rs.1077.620
Millions in the previous year to Rs.1105.450 Millions in the current year.
- Net Profit After Tax from Rs.410.290 Millions
in the previous year to Rs.5.500 Millions in the current year.
- Debt equity ratio from 0.85 in the previous
year to 1.07 in the current year.
- Current Ratio from 1.43 in the previous year
to 1.27 in the current year.
BUSINESS OUTLOOK
Dr.
Datsons has set ambitious goals for the years through to 2015 in expectation of
a moderate upward trend in the global economy.
The
Company has world-class manufacturing facilities and an enviable basket of
approved markets and strong relationship built with some of the best names in
the pharma industry. The management team has set in motion a set of strategic
initiatives to improve the revenues and profitability of the Company.
The
focus will be on expanding the markets and the profitability of the portfolio
will be analyzed on a continual basis. By implementing these strategies, Dr.
Datsons aims to increase its revenues, EBITDA margin and Return on Investment
higher than the industry average. The Company is targeting to be cash flow
positive, which would lower the leverage as well as reduce interest outgo, all
of which are expected to translate in to growing earnings per share
EXCELLENCE AWARDS:-
In
recognition of excellence in Corporate Governance, the following awards have
been conferred on the Company:
The
Company wins the prestigious Corporate Governance and Sustainability Vision
Awards 2013”
- “Global Recognition for Aanjaneya Lifecare,
Enters the Elite List of Golden Peacock Awards, Receives”Golden Peacock
National Quality Award”.
- The Company received Award begins the Fiscal
on a Strong Note, bags coveted “Asia’s Emerging Pharmaceutical Company on
Innovation Award 2013” at Assocham’s 10th knowledge Millennium Summit. The
Department of Science and Technology, Ministry of Science and Technology
Government of India. Organised by the Associated Chambers of Commerce and
Industry of India (ASSOCHAM).
- The Company ranked No. 2 industry wise and 9th
Position in the Asia-Pacific region at The Global Investor Relations
Summit”.
- The Company received the Prestigious “BSE
Award For Best Return to Investors 2012 from His Excellency Shri K.
Shankaranarayanan, Governor of Maharashtra to Mr. Shashikant Shinde
(Executive Director) at 5th Annual Pharmaceutical Leadership Summit and
Business Leadership Awards 2012, at presented by Pharmexcil,
Pharmaleaders, IBEF in Partnership with BSE with Theme as Brand India
Beyond Generics, Growth, Challenges and Developments.
- India’s Most Valuable Company in Corporate
Governance, Ethical Practice and Sustainability Vision at 3rd Annual India
Leadership Conclave and Indian Affairs Leadership Awards 2012.
- The European Award for Best Corporate
Governance Practices 2012 in Gold Category by European Society for Quality
Research at Amsterdam.
UNAUDITED FINANCIAL RESULTS FOR THE THREE QUARTER AND HALF YEAR ENDED 30TH SEPTEMBER 2013
(Rs. In Millions)
|
Particulars |
Quarter Ended ( Unaudited) |
Nine Months Ended ( Unaudited) |
|
|
|
31.12.2013 |
30.09.2013 |
31.12.2013 |
|
1. Income
from operations |
|
|
|
|
a) Net sales/ Income from operation (net of excise duty) |
1505.693 |
1320.008 |
4002.591 |
|
b) Other operating income |
0.000 |
0.000 |
0.000 |
|
Total
income from Operations(net) |
1505.693 |
1320.008 |
4002.591 |
|
2.Expenditure |
|
|
|
|
a) Cost of material consumed |
765.926 |
895.009 |
2616.925 |
|
b) Purchases of stock in trade |
220.340 |
199.963 |
420.303 |
|
c) Changes in inventories of finished goods, work-in-progress
and stock-in-trade |
279.578 |
8.629 |
258.555 |
|
d) Employees benefit expenses |
12.110 |
17.439 |
44.896 |
|
e) Depreciation and amortization expenses |
51.533 |
51.514 |
154.000 |
|
f) Other expenditure |
21.952 |
28.860 |
78.134 |
|
Total expenses |
1351.439 |
1201.414 |
3572.813 |
|
3. Profit from operations before other income and
financial costs |
154.254 |
118.594 |
429.778 |
|
4. Other income |
(0.049) |
0.384 |
0.374 |
|
5. Profit from ordinary activities before finance costs |
154.205 |
118.978 |
430.152 |
|
6. Finance costs |
126.693 |
83.122 |
327.247 |
|
7. Net profit/(loss) from ordinary activities
after finance costs but before exceptional items |
27.512 |
35.856 |
102.905 |
|
8. Exceptional item |
0.000 |
1.775 |
1.775 |
|
9. Profit from ordinary activities before tax
Expense: |
27.512 |
34.081 |
101.130 |
|
10.Tax expenses |
8.926 |
16.705 |
32.811 |
|
11.Net
Profit / (Loss) from ordinary activities after tax (9-10) |
18.586 |
17.376 |
68.319 |
|
12.Extraordinary Items (net of tax expense) |
0.000 |
0.000 |
0.000 |
|
13.Net Profit / (Loss) for the period (11 -12) |
15.856 |
17.376 |
68.319 |
|
14.Paid-up
equity share capital (Nominal value Re. 1/- per share) |
138.872 |
138.872 |
138.872 |
|
15. Reserve excluding
Revaluation Reserves as per balance sheet of previous accounting year |
|
|
|
|
16.i) Earnings per share (before extraordinary
items) of Re. 1/- each) (not annualised): |
|
|
|
|
(a) Basic |
1.34 |
1.25 |
7.53 |
|
(a) Diluted |
1.34 |
1.25 |
7.53 |
|
Particulars |
Quarter Ended ( Unaudited) |
Nine Months Ended ( Unaudited) |
|
|
|
31.12.2013 |
30.09.2013 |
31.12.2013 |
|
A. Particulars of shareholding |
|
|
|
|
1. Public Shareholding |
|
|
|
|
- Number of shares |
10444037 |
10404210 |
10444037 |
|
- Percentage of shareholding |
75.21% |
74.92% |
75.21% |
|
2. Promoters and Promoters group Shareholding- |
|
|
|
|
a) Pledged /Encumbered |
|
|
|
|
Number of shares |
3105808 |
3145635 |
3105808 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
90.20% |
90.32% |
90.20% |
|
Percentage of shares (as a % of total share capital of the
company) |
22.36% |
22.65% |
22.36% |
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
Number of shares |
337306 |
337306 |
337306 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
9.79% |
9.79% |
9.79% |
|
Percentage of shares (as a % of total share capital of the
company) |
2.43% |
2.43% |
2.43% |
|
|
|
|
|
|
B.
Investor Complaints |
|
||
|
Pending at the beginning of the quarter |
Nil |
||
|
Receiving during the quarter |
Nil |
||
|
Disposed of during the quarter |
Nil |
||
|
Remaining unreserved at the end of the quarter |
Nil |
||
Notes:
1. The above Results were review by the Audit Committee and approved by the
board of director at their meeting held on February 14, 2014.
2. The statutory auditors have carried out limited review of the unaudited financial
result of the company for the said quarter.
3. The company has only one reportable segment i.e. Pharmaceutical
4. Figures of the previous year has regroup/rearranged whenever necessary.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10389226 |
01/11/2012 |
47,250,000.00 |
CANARA
BANK |
Ground
Floor Mittal Tower C Wing, Nariman Point, Mumbai, Maharashtra - 400021, India
|
B63065205 |
|
2 |
10343217 |
23/03/2012 |
2,002,934,000.00 |
BANK
OF BARODA |
1st
Floor, 3, Walchand Hirachand Marg, Ballard Pier, Mumbai, Maharashtra -
400001, India |
B35470277 |
|
3 |
10331522 |
06/02/2012 * |
2,002,934,000.00 |
BANK
OF BARODA |
1st
Floor, 3, Walchand Hirachand Marg, Ballard Pier, Mumbai, Maharashtra -
400001, India |
B32220048 |
|
4 |
10322238 |
05/11/2011 |
200,000,000.00 |
STATE
BANK OF HYDERABAD |
Corporate
Finance Branch,1st Floor, Mittal Tower, C-Block, 210 Nariman Point, Mumbai,
Maharashtra - 400021, India |
B27517820 |
|
5 |
10308755 |
22/09/2011 |
200,000,000.00 |
THE
JAMMU AND KASHMIR BANK LIMITED |
Unit
No-101/102,1st Floor,B Block U And V, Dda Market,Shalimar Bagh Delhi, New
Delhi, Delhi - 110088, India |
B21877568 |
|
6 |
10304863 |
16/08/2011 |
200,000,000.00 |
BANK
OF INDIA |
G-5,
Akuriti Smc, Khopat Junction, Off Lbs Marg, Panchpakhadi, Thane West, Thane,
Maharashtra - 400601, India |
B19902295 |
FIXED ASSETS:
·
Land
·
Building
·
Furniture and Fixture
·
Computer
·
Vehicles
·
Plant and Machinery
MEDIA
AANJANEYA LIFECARE LIMITED RANKED NO 2 INDUSTRY WISE AND
9TH POSITION IN THE ASIA- PACIFIC REGION AT THE GLOBAL INVESTOR RELATIONS
SUMMIT
Aanjaneya
Lifecare Limited, an emerging integrated Pharma Company on an international
scale with an audience representing the international business community, has
bagged two prestigious awards by being ranked No 2 Industry wise and 9th
Position in Asia- Pacific region at The Global Investor Relations (GIR) Summit
Coordinated by KPMG and MZ associates. The GIR Summit was held at New
York, USA. The Other awardees from India include Infosys and Essar Oil amongst
others. Mumbai-based Aanjaneya Lifecare Limited, BSE code (533412), has a WHO
GMP approved facilities for manufacturing bulk drugs at Mahad and finished
dosage forms at Pirungut near Pune.
Speaking on the award Dr. Kannan Vishwanath, Vice Chairman
and Managing Director of Aanjaneya Lifecare Limited said “These awards assess
the performance of the companies in terms of their corporate social
responsibility, corporate governance and transparency. It would motivate
Aanjaneya in furtherance of its endeavor to provide maximum value to its stake
holders. We consistently look forward to continue our good performance in
further achieving excellence and outstanding results in Quality Management,
Business Excellence, Customer Satisfaction and Corporate
Governance".
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performing a thorough analysis and an independent technical committee will
review them in their entirety.
AANJANEYA LIFECARE ANNUAL REPORT WINS GOLD
CERTIFICATION AT LACP FLORIDA 2012
Aanjaneya Lifecare has won the Gold Certification for its Annual
Report at the LACP 2012 Global Communications Spotlight Awards held in Florida,
USA. LACP Certification is the world's largest profession's singular standard
for reviewing team-wide communications availability, capability, depth and
value. The LACP Vision Award recognizes the outstanding annual reports of the
past 12 months. From Abbott to Zurich Financial, organizations large and small
compete against peers of similar size, staff, and means to earn recognition for
their organization's achievements.
Judged across a broad range of criteria, awards are presented
across five tiers: platinum, gold, silver, bronze, and honors. Ratings are
based upon an evaluation point system, which considers a number of factors
measuring the effectiveness of communications materials.
Aanjaneya Lifecare Limited 2012 Annual Report has been awarded the
“Gold Certification” the Top 100 global Communication Material .The 2012
LACP Vision Awards Annual Report Competition drew one of the largest
number of submissions ever, representing a broad range of industries and
organizational sizes. More than 4,000 entries representing more than 80
countries were received, with the competition being exceptionally tough.
Materials were judged in peer-level competitions.
Commenting on this Award, Dr
Kannan Vishwanath , Vice Chairman and Managing Director said
that “Nothing distinguishes your work and brings recognition to you and your
team more than honors from the 2012 Vision Awards, the world’s most
trusted and popular Annual Report Competition. The 2012 LACP Awards
Annual Report Competition that drew one of the largest number of submissions
ever, recognizes the outstanding annual reports of the past twelve months.
Aanjaneya’s annual report is an important reflection of our achievements, and
the work we do for our customers. The level of creativity exhibited in our
report is outstanding, which is supported by outstanding clarity in
communicating this year’s key messages. As a global pharmaceutical company we
could not be more thrilled with the international recognition and the top spot
our 2012 annual report has received from the LACP. We thank the team of Trysis
whose hard work have paid rich dividends.”
Commenting on the award, Mr Narendra Agarwal, Chief Financial
Officer, Aanjaneya Lifecare Limited said: “For us, Annual Report is a very
important medium to publish our financial results for all our stakeholders. In
addition, we include the report on corporate governance and the management
discussion and analysis of our operations and financial performance during the
year. We provide a brief on our current and future plans. Banks, financial
institutions and all our business partners find our annual report to be a very
valuable source of our achievements and future plans. With regard to Annual
Report 2012, we have gone a step further and used the report to project
Aanjaneya brand to the readers.”
The award won by Aanjaneya Lifecare Limited is another testimonial
on how the Indian companies are raising their bars in terms of corporate
communications perspective that place them on a par, if not above their
international peers
BSE AWARD FOR 'BEST RETURN TO INVESTORS' AT 5TH ANNUAL
PHARMACEUTICAL LEADERSHIP AWARDS 2012 INTENSIFIES
Pharrmaleaders, Asia’s biggest title in healthcare
communications is gearing up to choose the top Pharmaceutical and Biotech
Companies for their dramatic and significant accomplishments in their
respective field at the 5th Annual Pharmaceutical Leadership Awards 2012 in as
many as 33 categories, the biggest and coveted title that India is anxiously
looking at is the Category that has made investors and stakeholder happy in the
stock market. Organized in association with, Pharmexcil, IBEF and Ministry of
Industry and Commerce, Government of India, the coveted and prestigious
title BSE Award for the Best Return to Investors 2012 will be presented
by Shri K. Shankaranarayan, His Excellency, Governor of Maharashtra on Friday
21st September at Hotel Hilton Mumbai International Airport amidst the presence
of the veterans and who’s who’s of the Asia’s top Healthcare Leaders, Pharma
Academia, Ministers, Policy Makers, Social Entrepreneurs and Medical
Practioners. More than top 200 professionals of the Industry are expected to
attend the much awaited Leadership Event with the representation of Overseas
Companies.
Speaking on the Award Nomination, Satya Brahma, Chairman of
the Juries and Editor-In-Chief of Pharm leaders said “Pharmaleaders has
institutionalized Pharmaceutical Leadership Awards since 1999 to honour and
recognize the successful companies and individuals who have made their mark and
contributed vigorously to the growth of Indian Economy and foreign exchange.
Although there are many successful Pharmaceutical Companies listed in BSE are
doing well, however, the attempt by the juries to nominate the mid-sized
companies such as Aanjaneya Lifecare, Divis Laboratories, TTK Healthcare,
Ajanta Pharma are indeed judicious choices as all four companies are doing
exceedingly well in the Healthcare Index. The Public, Investors and Companies
who are choosing the Winner will truly be a fitting recognition”. “This
category has attracted tremendous attention in the stock market, Pharma
Companies and in the general public as corporate ethics, Corporate
Sustainability Model are the norms of the day and with so much of scrutiny by
the regulators, BSE Award for the Best Return to the Investors will be a tight
contest”.
To quote Kiran Kabtta Somvanshi of ET “Of late there are
many Midcaps in Healthcare doing exceedingly well. Consider this, the stocks of
most leading pharma companies have hit a new high or a 52-week high since
August. Stocks of companies like Cipla, Sun Pharma, Lupin, Wockhardt, Strides
Arcolabs, Divi's Labs, Ipca Labs, Indoco Remedies Alembic Pharma and Shasun
Pharma have hit a new high on the bourses. Likewise, stocks of Ranbaxy Labs,
Glenmark Pharma, Dishman Pharma, Cadila Healthcare, Unichem Labs and Venus
Remedies have hit a 52-week high. With macro-economic conditions being
difficult and most sectors not doing well, the market is chasing all
growth-oriented companies in the defensive sectors of FMCG and now Pharma
stocks, defensive sector, valuations, FMCGarma.Given the limited opportunity in
the market, the Street has now turned to pharma stocks to capture growth and value.
Most pharma companies with decent growth performance has witnessed a rally in
its stock. 32% of the total 148 listed pharma stocks have flared up to new or
52-week highs in the last one month. The Indian pharma market is growing at
16-18%. Most Indian companies earn substantial revenues from outside by selling
low-cost generic drugs in regulated markets. The industry is growing at an
average rate of 20-22%. Many Indian companies like Sun Pharma, Dr Reddy's Labs
and Glenmark are among the fastest growing generic companies in the world. With
the market now chasing the drug company stocks, the valuations of these
companies is likely to become expensive. The ET Pharma Index is trading at a
price to earnings multiple of 33 very close to the 34.6 P/E of ET FMCG Index.
Dr Kannan Vishwanath led Aanjaneya Lifecare which
specializes in niche segments has a strong presence in API and formulation
business and has bulk drug manufacturing facility at Mahad and a finished
dosage forms unit near Pune. It is one of the largest contract manufacturers of
codeine-based cough syrups in India and exclusively makes Codorex brand of
Zydus Cadilla and Codilite tablets among others. It recently raised around
Rs.1170.000 Millions through an initial public offering (IPO). It acquired
recently Apex Drugs and Intermediates (ADI), a Hyderabad-based integrated
active pharmaceutical ingredient (API) and intermediate company, for
Rs.2500.000 Millions, including debt of Rs.1850.000 Millions and equity
dilution of Rs.650.000 Millions.
Divi’s Laboratories has earned a consolidated total income
of Rs.7220.000 Millions for the 4th Quarter of the year 2011-12 as against a
total income of Rs.4800.000 Millions during the corresponding quarter last
year, reflecting a growth of 50%. Established in the year 1990, with Research
and Development as its prime fundamental, Divis Laboratories focused on
developing new processes for the production of Active Pharma Ingredients (APIs)
and Intermediates. The company in a matter of short time expanded its breadth
of operations to provide complete turnkey solutions to the domestic Indian
pharmaceutical industry.
Purushottam B. Agrawal Led Ajanta Pharma is a specialty
pharmaceutical company engaged in the development, manufacture and
commercialization of pharmaceutical products. We employ over 3,500 people
worldwide and our products are sold in over 30 countries. Ajanta operates with
5 state-of-the art manufacturing facilities that produce high quality
pharmaceutical products. We focus on commercializing unique generic products
and pioneering synergistic combination products in the therapeutic areas of
anti- malarial, cardiology, dermatology, gastroenterology, musculoskeletal,
ophthalmology and respiratory is also doing quite well.
Chennai based TTK Healthcare manufactures calcium
supplements, hematinic, cervical dilators, thrombolytic agents, rejuvenators,
multimineral supplements, liver correctives and pain management products.
Besides being the first Pharmaceutical Company in India to be awarded the ISO
certification by BIS, TTK Healthcare was also the first to launch
technology-driven life-saving products like Urokinase and Dopamine. The Company
has also developed medicines like Lactare based on Ayurveda - the ancient
traditional system of medicine.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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 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.59.99 |
|
UK Pound |
1 |
Rs.101.75 |
|
Euro |
1 |
Rs.83.48 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
PLK |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
34 |
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.