MIRA INFORM REPORT
|
Report Date : |
03.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
LINCOLN PHARMACEUTICALS LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
20.01.1995 |
|
|
|
|
Com. Reg. No.: |
04-024288 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.163.108 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24230GJ1995PLC024288 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHML00095E |
|
|
|
|
Legal Form : |
Public Limited Liability Company. The company's shares are listed on
Stock Exchange. |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Pharmaceuticals Products |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATTHEM |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
THEMD 2800000 |
|
|
|
|
Statthem : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Themually Correct |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track record. The rating reflects sound financial risk profile marked by healthy net
worth and fair profitability of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be themually correct. The company can be considered normal for business dealings at themual
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 – June 1, 2014
|
Country Name |
Previothem Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks theyigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight bettheyen a father
and his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest Euro
100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the theyight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating (BBB+) |
|
Rating Explanation |
Moderate degree of safety. It carry moderate credit risk. |
|
Date |
September 03, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating (A3+) |
|
Rating Explanation |
Moderate degree of safety. It carry higher credit risk. |
|
Date |
September 03, 2013 |
RBI DEFAULTERS’ LIST STATTHEM
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATTHEM
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED
Management non-co-operative (91-79-67778000)
LOCATIONS
|
Registered Office : |
|
|
Tel. No.: |
91-79-67778000 |
|
Fax No.: |
91-79-67778062 |
|
E-Mail : |
|
|
Theybsite : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Trimul Estate, Khatraj Taluka Kalol,
Gandhinagar – 382 721, Gujarat, India |
|
Tel. No.: |
91-2764-305000 |
|
Fax No.: |
91-2764-281809 |
|
E-Mail : |
DIRECTORS
As on: 31.03.2014
|
Name : |
Mr. Kishor M Shah |
|
Designation : |
Chairman |
|
Profile : |
Based at |
|
|
|
|
Name : |
Mr. Rajnikant G.
Patel |
|
Designation : |
Joint Managing
Director |
|
Qualification : |
B. Pharma |
|
Profile : |
He is the Joint Managing Director and a young entrepreneur in setting up this company. He has 25 years of experience in the pharmaceutical indthemtry and looks after the manufacturing and marketing. |
|
|
|
|
Name : |
Mr. Hasmukh I
Patel |
|
Designation : |
Whole Time
Director |
|
Qualification : |
B.Sc. |
|
Profile : |
He is a full time Director, managing the entire gamut of domestic marketing as theyll as the entire sales distribution system of the company. |
|
|
|
|
Name : |
Mr. Ishwarbhai A
Patel |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Maganbhai R
Patel |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Pirabhai Suthar |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Mahendra G. Patel |
|
Designation : |
Director |
|
Qualification : |
B.A, LLB |
|
Profile : |
He is a Chairman and Managing Director of the company, he has a varied experience with chemicals, steel, finance etc. He handles corporate planning strategies, policies, corporate finance etc. |
|
|
|
|
Name : |
Mr. Arvind G. Patel |
|
Designation : |
Director |
|
Qualification : |
B.E. |
|
Profile : |
He is also looking after the export business of the company |
|
Name : |
Mr. Kishor M Shah |
|
Designation : |
Chairman |
|
Profile : |
Based at |
|
|
|
|
Name : |
Mr. Rajnikant G.
Patel |
|
Designation : |
Joint Managing
Director |
|
Qualification : |
B. Pharma |
|
Profile : |
He is the Joint Managing Director and a young entrepreneur in setting up this company. He has 25 years of experience in the pharmaceutical indthemtry and looks after the manufacturing and marketing. |
|
|
|
|
Name : |
Mr. Hasmukh I
Patel |
|
Designation : |
Whole Time
Director |
|
Qualification : |
B.Sc. |
|
Profile : |
He is a full time Director, managing the entire gamut of domestic marketing as theyll as the entire sales distribution system of the company. |
|
|
|
|
Name : |
Mr. Ishwarbhai A
Patel |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Maganbhai R
Patel |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Pirabhai
Suthar |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Mahendra G. Patel |
|
Designation : |
Director |
|
Qualification : |
B.A, LLB |
|
Profile : |
He is a Chairman and Managing Director of the company, he has a varied experience with chemicals, steel, finance etc.. He handles corporate planning strategies, policies, corporate finance etc. |
|
|
|
|
Name : |
Mr. Arvind G. Patel |
|
Designation : |
Director |
|
Qualification : |
B.E. |
|
Profile : |
He is also looking after the export business of the company |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2014
|
Category Of Shareholder |
No. Of Shareholders |
Total Shareholding As A % Of Total No. Of
Shares |
|
(A)Shareholding Of Promoter And Promoter
Group |
|
|
|
|
|
|
|
|
4223921 |
25.90 |
|
|
1091100 |
6.69 |
|
|
5315021 |
32.59 |
|
|
|
|
|
Total Shareholding Of Promoter And
Promoter Group (A) |
5315021 |
32.59 |
|
(B) Public Shareholding |
||
|
|
|
|
|
|
|
|
|
|
6810715 |
41.76 |
|
|
|
|
|
|
2136030 |
13.10 |
|
|
1493984 |
9.16 |
|
|
555050 |
3.40 |
|
|
542348 |
3.33 |
|
|
11702 |
0.07 |
|
|
1000 |
0.01 |
|
|
10995779 |
67.41 |
|
Total Public Shareholding (B) |
10995779 |
67.41 |
|
Total (A)+(B) |
16310800 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Pharmaceuticals Products |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
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||||||||||||||||||||||||
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||||||||||||||||||||||||
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Facilities : |
(Rs.
In Millions)
NOTE: The demand loans form Bank includes working capital loan from State
Bank of India. This loan is secured against all changeable current assets and
by a collateral security by way of Equitable Mortgage of 1397 Sq meters land
and building thereon at SN 469 of Sola Village, Daskoi Taluka Ahmedabad and
Equitable mortgage of land and building at WTG site P-21 Village and Visavada
Porbandar. Charge on residual fixed assets of the company. This term loans
are guaranteed by directors of the company. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M/s. Chandulal M. Shah and Company Chartered Accountants |
|
|
|
|
Subsidiary Company: |
|
|
|
|
|
Controlled by Key Managerial Persons: |
|
CAPITAL STRUCTURE
As on: 31.03.2014
a)
Authorized Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20,000,000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16,310,800 |
Equity Shares |
Rs.10/- each |
Rs.163.108
Millions |
b)
Statement of Reconciliation of number of share at
the beginning and at the end of the financial year
|
No. of Shares |
Particulars |
|
|
16,310,800 |
Shares outstanding at the beginning of the
year |
Rs. 163.108
Millions |
|
|
|
|
c)
Shareholding details of the company As at
31-Mar-2014 and name of persons holding more than 5% shares
|
Name of Shareholder/Company |
No. of Shares held |
|
Advent Tradelink Private Limited |
1,869,000 |
|
Digital Biotech Private Limited |
2,100,000 |
|
Unichem Dyes and Drugs Private Limited |
1,846,460 |
|
Total |
5,815,460 |
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
163.108 |
163.108 |
163.108 |
|
(b) Reserves & Surplthem |
828.167 |
725.340 |
638.662 |
|
(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) |
991.275 |
888.448 |
801.770 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a)
long-term borrowings |
25.934 |
26.374 |
54.667 |
|
(b) Deferred tax
liabilities (Net) |
26.623 |
42.066 |
49.435 |
|
(c)
Other long term liabilities |
29.743 |
33.205 |
28.856 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
82.300 |
101.645 |
132.958 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
480.122 |
549.021 |
465.648 |
|
(b)
Trade payables |
502.025 |
437.553 |
419.859 |
|
(c)
Other current liabilities |
136.800 |
128.369 |
149.981 |
|
(d)
Short-term provisions |
1.436 |
4.296 |
0.000 |
|
Total
Current Liabilities (4) |
1120.383 |
1119.239 |
1035.488 |
|
|
|
|
|
|
TOTAL |
2193.958 |
2109.332 |
1970.216 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
318.649 |
326.439 |
325.540 |
|
(ii)
Intangible Assets |
5.060 |
7.893 |
3.565 |
|
(iii)
Capital work-in-progress |
23.723 |
23.723 |
19.990 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b)
Non-current Investments |
112.119 |
112.119 |
112.119 |
|
(c)
Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
105.943 |
139.728 |
292.881 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
565.494 |
609.902 |
754.095 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
|
|
|
(b)
Inventories |
208.398 |
175.169 |
213.830 |
|
(c)
Trade receivables |
862.365 |
729.441 |
649.384 |
|
(d)
Cash and cash equivalents |
45.910 |
95.454 |
72.547 |
|
(e)
Short-term loans and advances |
28.635 |
53.170 |
44.486 |
|
(f)
Other current assets |
483.156 |
446.196 |
235.874 |
|
Total
Current Assets |
1628.464 |
1499.430 |
1216.121 |
|
|
|
|
|
|
TOTAL |
2193.958 |
2109.332 |
1970.216 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2084.902 |
1916.925 |
1749.249 |
|
|
|
Other Income |
14.233 |
46.962 |
32.193 |
|
|
|
TOTAL (A) |
2099.135 |
1963.887 |
1781.442 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
412.527 |
341.675 |
366.428 |
|
|
|
Purchases of Stock-in-Trade |
1057.820 |
921.146 |
715.578 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(20.931) |
11.768 |
38.085 |
|
|
|
Employees benefits expense |
161.877 |
159.723 |
156.159 |
|
|
|
Other expenses |
286.575 |
323.931 |
338.495 |
|
|
|
TOTAL
(B) |
1897.868 |
1758.243 |
1614.745 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
201.267 |
205.644 |
166.697 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
53.033 |
71.591 |
75.568 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
148.234 |
134.053 |
91.129 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
22.794 |
20.794 |
18.865 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
125.440 |
113.259 |
72.264 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
11.164 |
15.131 |
22.598 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
114.276 |
98.128 |
49.666 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOTHEM
YEARS’ BALANCE BROUGHT FORWARD |
297.174 |
215.496 |
182.205 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
5.000 |
5.000 |
5.000 |
|
|
|
Dividend |
9.786 |
9.786 |
9.787 |
|
|
|
Tax on Dividend |
1.663 |
1.663 |
1.588 |
|
|
BALANCE CARRIED
TO THE B/S |
395.001 |
16.449 |
16.449 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
547.843 |
489.638 |
384.865 |
|
|
|
Commission Earnings |
0.000 |
0.000 |
0.000 |
|
|
|
Other Earnings |
0.000 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
547.843 |
489.638 |
384.865 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
86.841 |
86.841 |
33.032 |
|
|
TOTAL IMPORTS |
86.841 |
86.841 |
33.032 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.01 |
6.02 |
3.04 |
|
QUARTERLY /
SUMMARISED RESULTS
|
PARTICULAR |
30.06.2014 |
|
TYPE |
1ST QUARTER |
|
Revenue |
48.340 |
|
Other Income |
0.000 |
|
Total Income |
48.340 |
|
Expenditure |
(41.180) |
|
Interest |
(1.380) |
|
PBDT |
5.780 |
|
Depreciation |
(0.710) |
|
PBT |
5.070 |
|
Tax |
(1.230) |
|
Net Profit |
3.850 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
5.48 |
5.12 |
2.83 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
9.65 |
10.73 |
9.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.09 |
5.74 |
3.93 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.13 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.51 |
0.65 |
0.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.45 |
1.34 |
1.17 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
163.108 |
163.108 |
163.108 |
|
Reserves & Surplthem |
638.662 |
725.34 |
828.167 |
|
Net
worth |
801.770 |
888.448 |
991.275 |
|
|
|
|
|
|
long-term borrowings |
54.667 |
26.374 |
25.934 |
|
Short term borrowings |
465.648 |
549.021 |
480.122 |
|
Total
borrowings |
520.315 |
575.395 |
506.056 |
|
Debt/Equity
ratio |
0.649 |
0.648 |
0.511 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1749.249 |
1916.925 |
2084.902 |
|
|
|
9.586 |
8.763 |
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 |
1749.249 |
1916.925 |
2084.902 |
|
Profit |
49.666 |
98.128 |
114.276 |
|
|
2.84% |
5.12% |
5.48% |
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 |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major cthemtomers |
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 |
No |
|
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 |
UN-AUDITED
FINANCIAL RESULTS (PROVISIONAL) FOR THE QUARTER ENDED ON 30.06.2014
|
|
PARTICULARS |
30.06.2014 (Un-Audited) |
|
1. |
Income from operations |
|
|
|
Net Sales/income from operation (Net of excise duty) |
463.706 |
|
|
Other operating income |
19.690 |
|
|
Total income from
operations (net) |
483.396 |
|
2. |
EXPENSES |
|
|
|
Cost of Materials Consumed |
96.948 |
|
|
Purchases of Stock-in-Trade |
170.220 |
|
|
Changes in inventories of finished goods, work-in-progress and Stock-in-Trade |
21.868 |
|
|
Depreciation/ Amortization |
7.079 |
|
|
Employees benefits expense |
37.955 |
|
|
Other expenses |
84.798 |
|
|
TOTAL EXPENSES |
418.868 |
|
3. |
Profit/(Loss) from
operations before other income, finance costs and exceptional items (1-2) |
64.528 |
|
4. |
Other income |
0.000 |
|
5. |
Profit / (Loss) from
ordinary activities before finance costs and exceptional items(3+ 4) |
64.528 |
|
6. |
Finance costs |
13.810 |
|
7. |
7 Profit / (Loss)
from ordinary activities after finance costs but before exceptional items(5 -
6) |
50.718 |
|
8. |
Exceptional items |
0.000 |
|
9. |
Profit / (Loss)
from ordinary activities before tax (7 + 8) |
50.718 |
|
10. |
Tax expense |
12.257 |
|
11. |
Net Profit / (Loss)
from ordinary activities after tax (9 - 10) |
38.461 |
|
12. |
Extraordinary items (net of tax expense ) |
0.000 |
|
13. |
Net Profit / (Loss)
for the period (11 - 12) |
38.461 |
|
14. |
Share of profit / (loss) of associates* |
0.000 |
|
15. |
Minority interest * |
0.000 |
|
16. |
Net Profit / (Loss)
after taxes, minority interest and shares of profit/(loss) of associates ((13
-( 14 +15)) * |
38.461 |
|
17. |
Paid-up equity share capital of face value Rs.10/- each |
163.108 |
|
18. |
Reserve excluding Revaluation Reserves as per balance sheet of previothem a/c. year |
- |
|
19.i |
a) Basic and diluted EPS before Extraordinary items(f.v.10/- each) and Prior period Adjthemtment.(Not Annualised) |
2.36 |
|
19.ii |
b) Basic and diluted EPS after Extraordinary items (f.v.10/- each) and Prior period Adjthemtment.(Not Annualised) |
2.36 |
|
|
PART - I |
|
|
A |
PARTICULARS OF
SHAREHOLDING |
|
|
1. |
Public
Shareholding: |
|
|
|
-Number of shares |
40984449 |
|
|
-Percentage of Shareholding |
6.734 |
|
2. |
Promoters and
Promoter group Shareholding: |
|
|
|
a) Pledged/Encumbered |
|
|
|
-Number of shares |
NILL |
|
|
-Percentage of Shareholding (as a %of the total shareholding of promoter and promoter group) |
NILL |
|
|
-Percentage of Shareholding (as a %of the total share capital of the Company) |
NILL |
|
|
b) Non-encumbered |
|
|
|
-Number of shares |
5326351 |
|
|
-Percentage of Shareholding (as a %of the total shareholding of promoter and promoter group) |
10.000 |
|
|
-Percentage of Shareholding (as a %of the total share capital of the Company) |
3.266 |
|
Particulars |
Quarter ended on 30.06.2014 |
|
INVESTOR
COMPLAINTS |
|
|
Pending at the beginning of the quarter |
NILL |
|
Received during the quarter |
1 |
|
Disposed of during the quarter |
1 |
|
Remaining unresolved at the end of the quarter |
NILL |
NOTES:-
- The above results were review by the audit committee and approved by the Board of Directors at its meeting held on 14.08.2014.
- Consequent to the applicability of the Companies Act, 2013 (the Act) to Accounting periods commencing on or after April 1, 2014 the Company has computed the depreciation charge for the quarter with reference to the estimated useful lives of the Fixed Assets as prescribed in schedule II of the Act. Further, Rs.7.399 Millions the carrying value (net of residual value) of assets whose remaining useful life is Nil as on 1st April, 2014 has been recognized in the opening balance of retained earnings. Based on the past experience, residual value of computers is estimated @2.50% of the cost price instead of 5% of the cost price prescribed under schedule II to the Act.
- Previothem year figures are regrouped/reclassified to conform to the current year's presentation.
- Since the revenue from different segment is less than 10% of total revenue, segment wise results are not given.
- Statutory Auditors has carried out limited review for the quarterly result for quarter ended 30.06.2014.
- Consolidated results includes results of its two subsidiary Company.
- Company has opted to publish standalone Results for the year 2014-15
UNSECURED LOAN
|
Particular |
As on 31.03.2014 (Rs. In Millions) |
As on 31.03.2013 (Rs. In Millions) |
|
Long term
borrowings |
|
|
|
Term loans |
|
|
|
From other parties |
4.280 |
4.312 |
|
From Related parties |
17.810 |
17.985 |
|
Short term
Borrowing |
|
|
|
Loans repayable
on demand |
|
|
|
from banks |
76.444 |
80.048 |
|
|
|
|
|
Total |
98.534 |
102.345 |
UNSECURED LONG
TERM BORROWINGS:
- The secured loan from others includes loans from finance companies. The rate of interest on these loans ranges from 10.50 % pa to13 % pa. The repayment period of these loans ranges from 36 months. These loans are secured against the asset under finance.
- Unsecured long term loans includes corporate loan from related parties & others.
OPERATIONS:
During the year. The Company has performed they’ll and achieved total revenue of Rs. 2099.135 Millions (Previothem year Rs.1963.887 Millions). There is increase in net profit from previothem year of Rs. 98.127 Millions to Rs.114.276 Millions in the year. Further details are given in Management Discthemsions and Analysis Report, which forms part of Annual Report.
HUMAN RESOURCES:
To enhance the effectiveness and efficiency of human resources towards better productivity and competitiveness, the company during the year undertook fathomed recruitment. Company’s indthemtrial relations continued to be harmoniothem during the year.
ACKNOWLEDGEMENT:
The Board is thankful to its bankers for their continued support and assistance which has played important role in progress of the Company. The Directors also place on record their sincere appreciation for the significant contribution made by the employees at all levels through their dedication hard work and commitment and look forward to their continued support.
RESEARCH AND
DEVELOPMENT (R&D):
Company is continuothemly carrying out R & D activities in the areas of new product/process development, improvement in existing process.
MANAGEMENT
DISCTHEMSION AND ANALYSIS:
INDTHEMTRY STRUCTURE
AND DEVELOPMENTS:
In the year 2013-14 the Indian Economy and GDP growth was marginally slow but, Pharma Indthemtry has been growing inspite of slowdown. As Indian population getting awareness towards health and there are many health awareness about different human diseases which are coming up, so new molecules are also coming up. So, most of the Government NGO’s are coming for the supervision of such kind of diseases. As The Company is primarily engaged in the business of manufacturing, marketing and Exports of Pharmaceutical products. Companies introduce high quality medicines at affordable price for Indian public at large. The company trying to increase its market share by introducing high quality products and low price medicines. There are many pharmaceuticals companies in the country manufacturing high quality medicines. In spite of the stiff competition in the country, management of the Company is hopeful for growth of top line and bottom line. Management is confident to succeed in the most competitive markets.
OUTLOOK:
The have increased our market share and also introduced lot of new products in the existing market in India. This year they are planning to introduce more new markets in India and also different product basket to cater in these markets. In Export, they are steadily growing and also in coming year, they are planning to enter in most of the Theist African Countries, where they are targeting potential growth in the company. The Company is also concentrates on the job work of variothem national and multinational companies and adding new products to its existing product range. The company is planning to start another Cephalosporin unit in the coming financial year, which would help the company in integrating with all the segment of pharma products.
RISK AND CONCERNS:
The Company is functioning in the competitive markets where there are number of small scale and medium scale manufacturers are in the presence. There are number of similar kind of products present in the markets and therefore there is a pressure on the margin on the Company. Secondly, at the same way, the investment in the new marketing geographical area, introduction of innovative products and new introductory pricing products would affect the performance of the company and its profitability. Hotheyver, the company has taken all the measures to minimize the risk by way of introducing R&D development Centre and continuothemly incorporating suggestions and guidance given by the experts, doctors and medical councils from time to time.
INTERNAL CONTROL
SYSTEMS AND THEIR ADEQUACY:
The Company maintains a system they’ll established policies, guidelines, adequate internal controls, ensure efficiency of operations, compliance with internal policies, applicable laws and regulations. The internal audit function conducted by independent Chartered Accountants firm for monitoring statutory and operational issues. The company is in the process of completing ERP system in the organization and developed a system for processing the documents. As a system and control, to make it more potheyrful across the organization, the internal audit, statutory audit as they’ll as in theme internal audit team are regularly checking the system audit and monitoring the statutory compliance and operational issue.
FINANCIAL
PERFORMANCE:
The financial performance of the Company are remained very excellent and showing increase trend in top and bottom line and the Company is quite confident that in future also the same trends will remain continued year after year inspite of variothem direct or indirect Government policies affecting to the Pharma Indthemtries. Financial Performance with respect to operational Performance is discthemsed in the main part of the report.
MATERIAL DEVELOPMENT
IN HUMAN RESOURCES /INDTHEMTRIAL RALATIONS:
The Pharmaceutical indthemtry is knowledge driven, considering this aspect, they continue to build our team with high quality talent. Company continued to have cordial & harmoniothem relation with its employees. Company is putting thrust on providing training both in house and outside.
INDEX OF CHARGES:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
90096639 |
19/08/2013 * |
640,700,000.00 |
STATE BANK OF INDIA |
INDTHEMTRIAL FINANCE BRANCH, 1ST FLOOR, NEPTUNE
TOTHEYR ANNEXE, OFF. ASHRAM ROAD,, AHMEDABAD, GUJARAT - |
B86264140 |
|
2 |
90101919 |
16/08/2013 * |
640,700,000.00 |
STATE BANK OF INDIA |
INDTHEMTRIAL FINANCE BRANCH, 1ST FLOOR, NEPTUNE
TOTHEYR ANNEXE, OFF. ASHRAM ROAD,, AHMEDABAD, GUJARAT - |
B86264934 |
*Date of charge modification
TANGIBLE ASSETS:
- Land
- Leased hold Land
- Building
- Plant and Equipment
- Furniture and Fixtures
- Vehicles
- Office equipment
- Electrical Installation
- Computers
- Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from variothem 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 focthemes principally on the interactions
bettheyen 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 |
|
THEM Dollar |
1 |
Rs.61.41 |
|
|
1 |
Rs.98.06 |
|
Euro |
1 |
Rs.76.66 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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 theyighted scores obtained from each of the
major sections of this report. The assessed factors and their relative
theyights (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 |
STATTHEM |
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 catheme
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.