MIRA INFORM REPORT
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Report Date : |
13.11.2014 |
IDENTIFICATION DETAILS
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Name : |
APOTEX RESEARCH PRIVATE LIMITED |
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Registered
Office : |
Site No. 1, Bommasandra Industrial Area, 4th Phase, Jigani Link
Road, Jigani Hobli, Bangalore – 560 099, Karnataka |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
16.06.2003 |
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Com. Reg. No.: |
08-032103 |
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Capital Investment
/ Paid-up Capital : |
Rs.2918.647 Millions |
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CIN No.: [Company Identification
No.] |
U73100KA2003PTC032103 |
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TIN No.: |
Not Available |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction & Collection
Account No.] |
BLRA04663B |
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PAN No.: [Permanent Account No.] |
AAECA2791B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The company engaged in Manufacturing of Formulated Pharmaceutical Products and also engaged in Research and Development Services. |
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No. of Employees
: |
1400 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (43) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 12500000 |
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Status : |
Satisfactory |
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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 satisfactory track. Reserves of the company is low. However, the rating takes into consideration sound financial risk
profile and decent profitability achieved by company from its operational activities.
Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered 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 – June 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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
N E W S
Verdict Implications:
Apex court order may alter coal import dynamics. Traders go slowly on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh 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 between 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 weight 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
NOT AVAILABLE
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
31-03-2014.
INFORMATION PARTED BY
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Name : |
Mr. Vishwas Agarwal |
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Designation : |
Company Secretary |
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Contact No.: |
91-80-22891371 |
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Date : |
12.11.2014 |
LOCATIONS
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Registered Office/ Factory : |
Site No. 1, Bommasandra Industrial Area, 4th Phase, Jigani
Link Road, Jigani Hobli, Bangalore – 560 099, Karnataka, India |
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Tel. No.: |
91-80-22891095 / 26557190 / 26557196 / 22891000 / 22891014 |
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Mobile No.: |
91-80-22891371 (Mr. Vishwas Agarwal) |
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Fax No.: |
91-80-26453666 / 22891099 / 22891140 |
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E-Mail : |
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Website : |
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Area : |
3000 Sq Ft (Approximately) |
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Location : |
Owned |
DIRECTORS
As on 30.09.2014
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Name : |
Mr. Parizad Adil Elchindana |
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Designation : |
Managing Director |
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Address : |
# 798, Tehmi Villa, Ground Floor, Jame Jamshed Road, Dadar, Mumbai –
400 014, Maharashtra, India |
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Date of Birth/Age : |
06.11.1961 |
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Qualification : |
Ph.D (Pharma Science) |
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Date of Appointment : |
10.06.2004 |
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PAN No.: |
AAAPE1719N |
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DIN No.: |
00394075 |
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Other Directorship:
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Name : |
Mr. Jeremy Bharat Desai |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
23.02.1960 |
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Date of Appointment : |
24.06.2004 |
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DIN No.: |
00361213 |
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Other Directorship:
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Name : |
Mr. James Francis Berhalter |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
05.12.1958 |
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Date of Appointment : |
24.06.2004 |
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DIN No.: |
00198596 |
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Other Directorship:
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Name : |
Mr. Robert Craig Baxter |
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Designation : |
Director |
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Address : |
# 108, West Wood Lane, Richmond Hill, Ontario, Canada L 4C 6Y 3 |
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Date of Birth/Age : |
27.12.1955 |
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Date of Appointment : |
24.06.2004 |
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DIN No.: |
00202338 |
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Other Directorship:
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KEY EXECUTIVES
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Name : |
Mr. Vishwash Agarwal |
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Designation : |
Company Secretary and Finance Controller |
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Address : |
Alpine Eco A606, 13, Doddnakudi, |
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Date of Birth/Age : |
14.11.1971 |
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Date of Appointment : |
17.06.2005 |
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PAN No.: |
AGRPA0068M |
MAJOR SHAREHOLDERS
As on 30.09.2014
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Names of Shareholders |
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No. of Shares |
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Apotex Pharmaceutical Holdings Inc., |
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29186473 |
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Apotex Pharmachem Inc., |
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1 |
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Total
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29186474 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
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Category |
Percentage |
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Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
The company engaged in Manufacturing of Formulated
Pharmaceutical Products and also engaged in Research and Development
Services. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Pharmaceuticals |
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Countries : |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
1400 (Approximately) |
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Bankers : |
The Hongkong And Shanghai Banking Corporation Limited, No
7, Mahatma Gandhi Road, Bangalore- 560001, Karnataka, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
Deloitte Centre, Anchorage-II, 100/2,
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Tel. No.: |
91-80-66276000 |
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Fax No.: |
91-80-66276011 |
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PAN No.: |
AACFD3771D |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company: |
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Fellow Subsidiary
company: |
CIN No.: U24231KA2003PTC032104
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CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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46000000 |
Equity Shares |
Rs.100/- each |
Rs.4600.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
|
|
29186474 |
Equity Shares |
Rs.100/- each |
Rs.2918.647
Millions |
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 |
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(1)Shareholders' Funds |
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(a) Share Capital |
2,918.647 |
2,918.647 |
2,918.647 |
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(b) Reserves & Surplus |
1,456.907 |
1,075.745 |
705.789 |
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(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
4,375.554 |
3,994.392 |
3,624.436 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
2,226.474 |
1,854.954 |
787.049 |
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(b) Deferred tax liabilities (Net) |
328.200 |
284.883 |
101.469 |
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(c) Other long term
liabilities |
22.880 |
10.112 |
0.000 |
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(d) long-term
provisions |
36.994 |
32.234 |
21.485 |
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Total Non-current
Liabilities (3) |
2,614.548 |
2,182.183 |
910.003 |
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(4)
Current Liabilities |
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(a) Short
term borrowings |
1,554.878 |
1,089.000 |
0.000 |
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(b) Trade
payables |
3,681.022 |
1,920.144 |
603.049 |
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(c) Other
current liabilities |
412.034 |
787.485 |
951.381 |
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(d) Short-term provisions |
32.313 |
3.131 |
2.603 |
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Total Current
Liabilities (4) |
5,680.247 |
3,799.760 |
1,557.033 |
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TOTAL |
12,670.349 |
9,976.335 |
6,091.472 |
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II.
ASSETS |
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(1)
Non-current assets |
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(a) Fixed Assets |
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(i)
Tangible assets |
4,885.569 |
4,828.729 |
1,446.878 |
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(ii)
Intangible Assets |
12.271 |
16.940 |
18.643 |
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(iii)
Capital work-in-progress |
37.668 |
2.918 |
1,718.699 |
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(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
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(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
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(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
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(d) Long-term Loan and Advances |
241.765 |
336.064 |
1,047.544 |
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(e) Other
Non-current assets |
174.613 |
164.401 |
154.762 |
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Total Non-Current
Assets |
5,351.886 |
5,349.052 |
4,386.526 |
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(2)
Current assets |
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(a)
Current investments |
0.000 |
0.000 |
0.000 |
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(b)
Inventories |
5,182.927 |
3,246.831 |
1,065.699 |
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(c) Trade
receivables |
1,605.193 |
1,135.707 |
454.020 |
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(d) Cash
and cash equivalents |
294.467 |
34.438 |
39.573 |
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(e)
Short-term loans and advances |
235.876 |
210.307 |
145.649 |
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(f) Other
current assets |
0.000 |
0.000 |
0.005 |
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Total
Current Assets |
7,318.463 |
4,627.283 |
1,704.946 |
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TOTAL |
12,670.349 |
9,976.335 |
6,091.472 |
PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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SALES |
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Income |
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Other Income |
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TOTAL (A) |
7,607.619 |
4,525.535 |
2,813.337 |
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Less |
EXPENSES |
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TOTAL (B) |
6,602.906 |
3,663.330 |
2,349.662 |
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PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1,004.713 |
862.205 |
463.675 |
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Less |
FINANCIAL
EXPENSES (D) |
93.066 |
59.049 |
29.202 |
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PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
911.647 |
803.156 |
434.473 |
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Less |
DEPRECIATION/
AMORTISATION (F) |
318.967 |
256.587 |
113.203 |
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PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
592.680 |
546.569 |
321.270 |
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Less |
TAX (H) |
211.518 |
176.613 |
107.104 |
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PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
381.162 |
369.956 |
214.166 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1,075.745 |
705.789 |
491.623 |
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BALANCE CARRIED
TO THE B/S |
1,456.907 |
1,075.745 |
705.789 |
||
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
7575.946 |
4489.386 |
2806.171 |
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TOTAL EARNINGS |
7575.946 |
4489.386 |
2806.171 |
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Earnings /
(Loss) Per Share (Rs.) |
13.06 |
12.68 |
7.34 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.69 |
5.48 |
7.35 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.14 |
0.09 |
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Debt Equity Ratio (Total Debt /Networth) |