MIRA INFORM REPORT

 

 

Report Date :

24.11.2014

 

IDENTIFICATION DETAILS

 

Name :

CADILA PHARMACEUTICALS LIMITED

 

 

Registered Office :

Cadila Corporate Campus, Sarkhej Dhokla Road, Ahmedabad – 380008, Gujarat

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

28.02.1991

 

 

Com. Reg. No.:

04-015132

 

 

Capital Investment / Paid-up Capital :

Rs. 800.000 Millions

 

 

CIN No.:

[Company Identification No.]

U24231GJ1991PLC015132

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACC6251E

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturer, Exporter and Importer of Pharmaceuticals Products.

 

 

No. of Employees :

7000 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (52)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 13980000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist

 

 

Comments :

Subject is an established company having good track record.

 

Financial position of the company is sound. Fundamentals are strong.

 

Trade relations are reported as fair. Business is active. Payment terms are reported to be regular and as per commitment.

 

The company can be considered normal 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

 

Country Name

Previous 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 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

 

Rating Agency Name

CARE

Rating

Long-term Bank facilities : A-

Rating Explanation

Adequate degree of safety it carry low credit risk.

Date

March 31, 2014

 

 

Rating Agency Name

CARE

Rating

Short-term Bank facilities : A2+

Rating Explanation

Very strong degree of safety it carry lowest credit risk.

Date

March 31, 2014

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Sanjay Sinha

Designation :

Finance Manager

Contact No.:

91-2718-225001

Date :

18.11.2014

 

 

LOCATIONS

 

Registered/ Corporate Office :

Cadila Corporate Campus, Sarkhej Dhokla Road, Ahmedabad – 380008, Gujarat, India 

Tel. No.:

91-2718-225001 (15 Lines)

Fax No.:

91-2718-225039

E-Mail :

secretarial@cadilapharma.co.in 

website@cadilapharma.co.in

accounts@cadilapharma.co.in 

rmankodi@cadilapharma.co.in

purchase@cadilapharma.com

branded@cadilapharma.com

rnair@cadilapharma.co.in

shreyas.parikh@cadilapharma.co.in

Website:

http://www.cadilapharma.com

Location :

Owned

 

 

Factory 1 :

Dholka – Manufacturing Plant

Survey No. 1389, Trasad Road, Dholka, Ahmedabad – 387810, Gujarat, India

Tel. No:

91-79-23421841 / 83 / 84 / 23422006 / 7 / 8 / 9 / 10

Fax No:

91-79-23420315

 

 

Factory 2 :

Chemical SBU

294, GIDC Estate, Ankleshwar, Gujarat, India

Tel. No:

91-2646-223846/ 252626/ 251519 

Fax No:

91-2646-250051

 

 

Factory 3 :

CHPL – Factory / Karnavati Engineering Limited

Survey No. 342, Nani Kadi, Taluka Kadi, District Mehsana,   North Gujarat, India

Tel. No:

91-2764-262463/ 242037/ 242194/ 241464-65

Fax No:

91-2764-242223/ 242608

 

 

Factory 4 :

Chemicals SBU

Factory Plot No. 274, GIDC Industrial Estate, Ankleshwar, Gujarat, India

Tel. No:

91-2646-223846/ 252626/ 251519

Fax No:

91-2646-250051

 

 

Factory 5 :

Tissu Culture Lab

756, Prakruti Farm, Hirapur Chowkdi, Hirapur, Ahmedabad, Gujarat, India

Tel. No:

91-79-3855260/ 3855495/ 496

 

 

Factory 6 :

Cadila Pharmaceuticals Limited, Jammu

Industrial Growth Centre, Samba – 184121, District Jammu, Jammu and Kashmir, India

Tel. No:

91-1923-241113/ 241114/ 241115

Fax No:

91-1923-246744

 

 

DIRECTORS

 

AS ON 30.12.2013

 

Name :

Dr. Rajiv Indravadan Modi

Designation :

Managing director

Address :

13, Sanjiv Building, New Sharda Mandir Road, Paldi,  Ahmedabad – 380007, Gujarat, India

Date of Birth/Age :

09.05.1960

Qualification :

Ph. D (Biological Science), M. Sc (Biochemical Engineering), B. Tech(Chemical Engineering)

Date of Appointment :

01.07.2010

PAN No.:

AAPPM9265J

DIN No.:

01394558

 

 

Name :

Mrs. Shilaben Indravadan Modi

Designation :

Director

Address :

13, Sanjiv Baug, New Sharda Mandir Road, Ahmedabad – 380007, Gujarat, India

Date of Birth/Age :

09.12.1931

Qualification :

Matriculate

Date of Appointment :

16.12.1995

PAN No.:

AEYPM8647R

DIN No.:

01976356

 

 

Name :

Mrs. Monika Garware Modi

Designation :

Director

Address :

13, Sanjiv Building, New Sharda Mandir Road, Paldi,  Ahmedabad – 380007, Gujarat, India

Date of Birth/Age :

04.06.1963

Qualification :

M.B.A. from Pace University, New York, USA

Date of Appointment :

15.12.1995

PAN No.:

AEQPG3834C

DIN No.:

00143400

 

 

Name :

Mr. Chinubhai Ramanlal Shah

Designation :

Director

Address :

402, Heritage Cresent, Behind Prahladnagar Garden, Near Jain Derasar, S. G. Highway, Ahmedabad – 380051, Gujarat, India

Date of Birth/Age :

04.06.1937

Qualification :

M.A., L.L.M. (Gold Medalist), DLP, DTP, FCS, Life Fellow AIMA

Date of Appointment :

31.03.2001

DIN No.:

00558310

 

 

Name :

Mr. Pradip Navin Khandwalla

Designation :

Director

Address :

B/101, Jupiter Tower, Opposite Samkit Bunglows, Bodakdev, Ahmedabad – 380054, Gujarat, India

Date of Birth/Age :

18.02.1940

Qualification :

B. Com. (Bom), MBA (Wharton, Penn.), Ph.D. (Carnegie-Mellon), ACA

Date of Appointment :

14.09.2007

DIN No.:

00064643

 

 

Name :

Mr. Daya Nand Khurana

Designation :

Director

Address :

288, Vasant Enclave, Vasant Vihar, New Delhi - 110057, India

Date of Birth/Age :

15.05.1935

Qualification :

B.E.(EC)

Date of Appointment :

04.07.2003

DIN No.:

00020601

 

 

Name :

Mr. Atul Bipinbhai Tandon

Designation :

Director

Address :

A/43, Royal Orchid, Corporate Road, Opposite Prahlad Nagar Gardens, Prahlad Nagar, Ahmedabad – 380015, Gujarat, India

Date of Birth/Age :

03.01.1948

Qualification :

B. Tech from I.I.T, Bombay and PGDBA from IIM, Ahmedabad

Date of Appointment :

04.07.2003

DIN No.:

00165667

 

 

Name :

Mr. Narendra Jamnadas Jhaveri

Designation :

Director

Address :

C-42, Samprat Residency, Premchandnagar, Bodakdev, Ahmedabad – 380015, Gujarat, India

Date of Birth/Age :

09.08.1935

Date of Appointment :

07.05.2013

DIN No.:

00198912

 

 

Name :

Mr. Atul Sant Kumar Malhotra

Designation :

Director

Address :

1/21, 3rd Floor, Shanti Niketan, New Delhi – 110021, India 

Date of Birth/Age :

11.08.1955

Date of Appointment :

11.09.2013

DIN No.:

05200943

 

 

KEY EXECUTIVES

 

Name :

Mr. Shreyas Kunjvihari Parikh

Designation :

Secretary

Address :

B/001, Aakashdeep Anne, Near Shreyas Railway Crossing, Ambawadi – 380006, Gujarat, India

Date of Birth/Age :

12.08.1957

Date of Appointment :

22.02.2008

PAN No.:

AEIPP6513R

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.12.2013

 

Names of Shareholders

No. of Shares

R. I. Modi (Karta of I.A. Modi HUF)

10

R. I. Modi (Trustee of IRM Trust)

79999976

R. I. Modi (Trustee of Mansi Trust)

10

IRM Limited, India

1

Karnavati Engineering Limited, India

1

Green Channel Logi Solutions Limited, India

1

Minikaben Modi

1

 

 

Total

80000000

 

 

AS ON 30.12.2013

 

Equity Share Breakup

Percentage of Holding

Category

 

Bodies corporate

100.00

Total

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Exporter and Importer of Pharmaceuticals Products.

 

 

Products/ Services :

ITC Code No.

Product Descriptions

29051410

Ethambutol

29420014

Ranitidine

29350011

Sulphameth Axazole

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Pharmaceuticals Products

Countries :

·         Egypt

·         Nigeria

·         South Africa

·         Kenya

·         Uganda

·         Sudan

 

 

Imports :

 

Products :

Raw Material

Countries :

·         China

France

 

 

Terms :

 

Selling :

Cash, Cheque and Credit

 

 

Purchasing :

Cash, Cheque and Credit

 

 

GENERAL INFORMATION

 

Suppliers :

Not Divulged

 

 

Customers :

Not Divulged

 

 

No. of Employees :

7000 (Approximately)

 

 

Bankers :

·         Union Bank of India

IFB, C. U. Shah Chambers, Ashram Road, Ahmedabad - 380014, Gujarat, India

·         Bank of Baroda

Corporate Financial Services Branch, 1st Floor, BOB Towers, Opposite Law Garden, Ellisbrdige, Ahmedabad - 380009, Gujarat, India

·         Export-Import Bank of India

Centre One Building, Floor 21, World Trade Centre Complex; Cuffe Parade, Mumbai - 400005, Maharashtra, India

·         Indian Overseas Bank

401, 403 Sigma Legacy, Near Polytechnic Cross Road, IIRM Road, Ahmedabad - 380015, Gujarat, India

 

·         Bank of India

Corporation Bank

ICICI Bank Limited

Vijaya Bank

HDFC Bank Limited

Canara Bank

Syndicate Bank

Dena Bank

Central Bank of India

 

 

Facilities :

SECURED LOANS

31.03.2013

(Rs. In Millions)

31.03.2012

(Rs. In Millions)

LONG-TERM BORROWINGS

 

 

Rupee term loans from banks

2409.028

2615.468

Other loans and advances

80.643

58.505

SHORT TERM BORROWINGS

 

 

Working capital loans from banks

1633.592

1456.278

 

 

 

Total

 

4123.263

4130.251

 

A Securities for Term Loans :

[a] Term loans of Rs. 2792.937 Millions (includes Rs. 849.075 Millions as per Note 11) from Banks secured by first pari passu charge on all movable and immovable fixed assets of the Company, except land and building at Jammu and vehicles as mentioned at [d] below, by way of Equitable Mortgage on land and building and hypothecation of plant and machinery (both present and future). The loans are further secured by second charge on current assets of the Company.

[b] Term loans of Rs. 47.517 Millions (shown in Note 11) from Banks secured by first pari passu charge on all movable and immovable fixed assets of the Company, except land and building at Jammu and vehicles as mentioned at [d] below, by way of Equitable Mortgage on land and building and hypothecation of plant and machinery (both present and future). The loans are further secured by second charge on current assets of the Company and pledge of shares of Apollo Hospital International Limited in favour of respective banks.

[c] Term loans of Rs. 312.000 Millions from Banks secured by second pari passu charge on all movable and immovable fixed assets of the Company, except land and building at Jammu and vehicles as mentioned at [d] below, by way of Equitable Mortgage on land and building and hypothecation of plant and machinery (both present and future).

[d] Vehicle loan of Rs. 121.169 Millions (includes Rs. 40.526 Millions as per Note 11) is secured by hypothecation of specific vehicles financed out of the loans.

 

B Terms of repayment :

[a] Term Loan from Bank of Baroda Rs.120.000 Millions carries interest @ BR+2 % p.a. and repayable in 20 quarterly installments after moratorium of 2 years.

[b] Term Loan from Bank of Baroda of Rs.408.000 Millions carries interest @ BR+ 2% p.a. and repayable in 20 quarterly installments after moratorium of 2 years.

[c] Term Loan from Bank of Baroda of Rs.650.000 Millions carries interest @ BR+ 2% p.a. and repayable in 16 quarterly installments after moratorium of 2 years.

[d] Term Loan from Syndicate Bank of Rs. 18.757 Millions carries interest @ BR + 2.50% p.a. and repayable in 16 quarterly installments after moratorium of 3 years.

[e] Term Loan from Dena Bank of Rs.699.937 Millions carries interest @ BR + 2.25% p.a. and repayable in 16 quarterly installments after moratorium of 2 years.

[f] Term Loan from EXIM Bank of Rs.312.000 Millions carries interest @ LTMLR+2.30% p.a. and repayable in 20 quarterly installments after moratorium of 2 years

[g] Term Loan from Central Bank of India of Rs. 125.000 Millions carries interest @ BR+ 2.25% p.a. and repayable in 16 quarterly installments after moratorium of 2 years

[h] Term Loan from Central Bank of India of Rs. 275.000 Millions carries interest @ BR+2.25% p.a. and repayable in 16 quarterly installments after moratorium of 2 years

[i] Term Loan from Corporation Bank of Rs.28.760 Millions carries interest @ BR+2.50% p.a. and repayable in 16 quarterly installments after moratorium of 3 years.

[j] Term Loan from Indian Overseas Bank of Rs.150.000 Millions carries interest @ BR+ 2.25% p.a. and repayable in 16 quarterly installments after moratorium of 2 years.

[k] Term Loan from Indian Overseas Bank of Rs.365.000 Millions carries interest @ BR+1.25% p.a. and repayable in 20 quarterly installments after moratorium of 2 years.

[l] Term Loan from Vijaya Bank of Rs.79.750 Millions carries interest @ BR+2.50% p.a. and repayable in 20 quarterly installments after moratorium of 2 years.

[m] Term Loan from Vijaya Bank of Rs.111.032 Millions carries interest @ BR+1.60% p.a. and repayable in 111 monthly installments.

 

The amounts shown above from B[a] to B[m] includes current portion of loans as shown as per Note 11.

 

C Vehicle loan carries interest @ 7.83 % to 14 % and repayable in 36 months to 60 months installments.

 

D Deposits accepted for the period 1 year to 3 years and carries interest @ 1% & 7.50% p.a.

 

E Unsecured loan from Dept. of Science and Technology carries interest of 2% to 3% and repayable in 2-15 years period.

 

F There are no defaults in repayment of loan and interest thereon as on March 31, 2013 for all the loans under this head.

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Deloitte Haskins and Sells

Chartered Accountants

Address :

Heritage', 3rd Floor, Near Gujarat Vidypith, Off. Ashram Road, Ahmedabad – 380014, Gujarat, India

Income-tax PAN of auditor or auditor's firm :

AABFD7919A

 

 

Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :

·         A.J. Modi Family Trust

CPL Infrastructure Private Limited [U67120GJ1995PTC025713]

Green Channel Logi-Solutions Limited [U63023GJ2008PLC052813]

I.A. Modi Family Trust

IRM Enterprises Private Limited [U74999GJ2009PTC058116]

IRM Holding

IRM Trust

Indraj Trust

Inverika Bioresearch Private Limited [U73100GJ2012PTC070636]

Karnavati Engineering Limited

Manendra Family Trust

Mansi Family Trust

Mayur Family Trust

Mihir Family Trust

Omni Care Pharmaceuticals Limited

Raj Trust

Shantaben Family Will Trust

Shilraj Trust

 

 

Joint venture :

·         Apollo Hospitals International Limited [U85110TN1997PLC039016]

Casil BG Medical Devices

 

 

Subsidiary company :

·         CPL Biologicals Private Limited [U01403GJ2009PTC056409]

CPL Inc.

CPL Agro Products Private Limited [U01403GJ2009PTC056669]

Cadila Pharmaceuticals (Ethiopia) Private Limited

CPL Holdings Private Limited [U65993GJ2009PTC056511]

Cadila Pharmaceuticals (E.A) Limited

Interpharma Ind Limited

Kadera Yakuhin Limited

Satellite Overseas Holdings Limited (SOHL)

 

 

Associate :

·         CASIL Health Products Limited [U51909GJ1995PLC027839]

CASIL Industries Limited [U24231GJ2000PLC038320]

StemCyte India Therapeutics Private Limited [U85100GJ2008FTC052859]

 

 

CAPITAL STRUCTURE

 

AFTER 30.12.2013

 

Authorised Capital : Rs. 846.000 Millions

 

Issued, Subscribed & Paid-up Capital : Rs. 845.739 Millions                                                              

 

 

AS ON 31.03.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

80,000,000

Equity Shares

Rs. 10/- each

Rs. 800.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

80,000,000

Equity Shares

Rs. 10/- each

Rs. 800.000 Millions

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2013

31.03.2012

31.03.2011

I.        EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

800.000

800.000

800.000

(b) Reserves & Surplus

2649.738

1519.643

1427.297

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

45.739

0.000

0.000

Total Shareholders’ Funds (1) + (2)

3495.477

2319.643

2227.297

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

3355.522

3562.681

3114.053

(b) Deferred tax liabilities (Net)

533.130

506.056

490.447

(c) Other long term liabilities

239.457

216.247

225.954

(d) long-term provisions

34.081

22.199

20.447

Total Non-current Liabilities (3)

4162.190

4307.183

3850.901

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

1633.592

1456.278

1379.937

(b) Trade payables

1927.810

1510.784

1022.431

(c) Other current liabilities

1566.408

1330.906

1238.844

(d) Short-term provisions

161.642

82.386

34.384

Total Current Liabilities (4)

5289.452

4380.354

3675.596

 

 

 

 

TOTAL

12947.119

11007.180

9753.794

 

 

 

 

II.      ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

4936.297

3452.190

3399.715

(ii) Intangible Assets

24.766

20.862

16.004

(iii) Capital work-in-progress

653.876

467.041

444.523

(iv) Intangible assets under development

79.850

50.104

0.000

(b) Non-current Investments

1495.097

1308.584

1197.025

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

947.042

1043.679

740.789

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

8136.928

6342.460

5798.056

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

1563.096

1535.482

1506.732

(c) Trade receivables

2285.704

2299.033

1781.776

(d) Cash and cash equivalents

311.753

170.057

201.900

(e) Short-term loans and advances

585.958

559.008

348.512

(f) Other current assets

63.680

101.140

116.818

Total Current Assets

4810.191

4664.720

3955.738

 

 

 

 

TOTAL

12947.119

11007.180

9753.794

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Revenue from operations

10847.912

9180.545

7816.194

 

 

Other Income

120.054

115.540

84.338

 

 

TOTAL                                    

10967.966

9296.085

7900.532

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

3381.237

3127.037

2935.607

 

 

Purchases of Stock-in-Trade

883.621

650.190

530.257

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

27.205

(14.338)

(278.820)

 

 

Employees benefits expense

1921.180

1491.765

1199.865

 

 

Other expenses

3042.351

2574.240

2415.274

 

 

TOTAL                                    

9255.594

7828.894

6802.183

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

1712.372

1467.191

1098.349

 

 

 

 

 

Less

FINANCIAL EXPENSES                        

643.567

609.876

444.627

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION

1068.805

857.315

653.722

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

269.546

255.268

242.856

 

 

 

 

 

Less

EXCEPTIONAL ITEMS

452.480

404.260

253.960

 

 

 

 

 

 

PROFIT BEFORE TAX

346.779

197.787

156.906

 

 

 

 

 

Less

TAX                                                     

46.325

55.932

61.733

 

 

 

 

 

 

PROFIT AFTER TAX

300.454

141.855

95.173

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

3795.450

2927.473

2108.067

 

 

Other Earnings

20.712

12.042

7.307

 

TOTAL EARNINGS

3816.162

2939.515

2115.374

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

454.231

242.276

246.032

 

 

Stores & Spares

8.001

9.302

16.410

 

 

Capital Goods

73.167

84.684

140.428

 

TOTAL IMPORTS

535.399

336.262

402.870

 

 

 

 

 

 

Earnings Per Share (Rs.)

3.76

1.77

1.19

 

 

Particulars

 

 

 

31.03.2014

Sales Turnover (Approximately)

 

 

13500.000

 

 

 

 

 

 

The above information has been parted by Mr. Sanjay Sinha (Finance Manager)

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

PAT / Total Income

(%)

2.74

1.53

1.20

 

 

 

 

 

Net Profit Margin

(PBT/Sales)

(%)

3.20

2.15

2.01

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

3.24

2.15

1.93

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.10

0.09

0.07

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

1.43

2.16

2.02

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.91

1.06

1.08

 

 

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

800.000

800.000

800.000

Reserves & Surplus

1427.297

1519.643

2649.738

Share Application money pending allotment

0.000

0.000

45.739

Net worth

2227.297

2319.643

3495.477

 

 

 

 

long-term borrowings

3114.053

3562.681

3355.522

Short term borrowings

1379.937

1456.278

1633.592

Total borrowings

4493.990

5018.959

4989.114

Debt/Equity ratio

2.018

2.164

1.427

 

 

 

 

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

7816.194

9180.545

10847.912

 

 

17.455

18.162

 

 



 

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

7816.194

9180.545

10847.912

Profit

95.173

141.855

300.454

 

1.22%

1.55%

2.77%

 

 

 

 

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

Yes

9]

Name of person contacted

Yes

10]

Designation of contact person

Yes

11]

Turnover of firm for last three years

Yes

12]

Profitability for last three years

Yes

13]

Reasons for variation <> 20%

---------------------

14]

Estimation for coming financial year

No

15]

Capital in the business

Yes

16]

Details of sister concerns

Yes

17]

Major suppliers

No

18]

Major customers

No

19]

Payments terms

Yes

20]

Export / Import details (if applicable)

Yes

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

Yes

33]

Voter ID No of Proprietor/Partner/Director, if available

No

34]

External Agency Rating, if available

Yes

 

 

LITIGATION DETAILS

 

HIGH COURT OF GUJARAT

SPECIAL CIVIL APPLICATION No. 419 of 2013

Status: PENDING                    

Converted from : ST/17405/2012

CCIN No: 001021201300419

Next Listing Date: 22/12/2014

Coram:

HONOURABLE MR.JUSTICE PARESH UPADHYAY

Not Before

HONOURABLE MR.JUSTICE R.M.CHHAYA

S.NO.

Name of the Petitioner

Advocate On Record

1

RAPTAKOS BRETT AND COMPANY LIMITED

MR DAKSHESH MEHTA for: Petitioner(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

S.NO.

Name of the Respondant

Advocate On Record

1
2
3

INTELLECTUAL PROPERTY APPELLATE BOARD
CADILA PHARMACEUTICALS LTD
ASSISTANT REGISTRAR OF TRADE MARKS

NOTICE UNSERVED for :Respondent(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1
MR YJ TRIVEDI for :Respondent(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 2
MR IH SYED for :Respondent(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 3

Presented On : 29/12/2012

Registered On :  15/01/2003

Bench Category  :  SINGLE BENCH                                                        

 

District  : VADODARA

Case Originated From: THROUGH ADVOCATE

Listed   : 30 times

Stage Name   : FOR FINAL HEARING

Office Objection

Filling Stage

WHETHER INDEX-CUM-CHRONOLOGY OF DOCUMNETS AND EVENTS FILED

 

Filling Stage

WHETHER PROPER & FULL COURT FEE IS PAID

 

Filling Stage

WHETHER PAGING IS DONE

 

Filling Stage

WHETHER COPIES ARE LEGIBLE AND WHETHER TYPED COPIES OF HAND WRITTEN ANNEXURES FILED

 

Filling Stage

WHETHER COPIES ARE TRUE COPIES SO SIGNED BY ADVOCATE

 

Classification

·                     SJ - NON-SERVICE - TRADE MARKS ACT, 1999

Act

·                     TRADE UNIONS ACT, 1926

Office Details

S. No

Filing Date

Document Name

Advocate Name

Court Fee on Document

Document Details

1

29/12/2012

VAKALATNAMA

MR DAKSHESH MEHTA ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

5

MR DAKSHESH MEHTA:1

2

29/12/2012

MEMO OF APPEAL/PETITION/SUIT

MR DAKSHESH MEHTA ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

50

MR DAKSHESH MEHTA:1

3

15/01/2013

VAKALATNAMA

MR YJ TRIVEDI ADVOCATE
for RESPONDENT(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 2

4

MR YJ TRIVEDI:2

4

15/01/2013

VAKALATNAMA

MR DAKSHESH MEHTA ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

-

MR DAKSHESH MEHTA:1

5

15/01/2013

DOCUMENT

NOTICE SERVED 
for RESPONDENT(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 3

-

NOTICE SERVED:3

6

15/01/2013

DOCUMENT

NOTICE UNSERVED 
for RESPONDENT(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

-

NOTICE UNSERVED:1

7

14/02/2013

MEMO OF APPEAL/PETITION/SUIT

MR DAKSHESH MEHTA ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

50

MR DAKSHESH MEHTA:1

8

04/04/2013

VAKALATNAMA

MR YJ TRIVEDI ADVOCATE
for RESPONDENT(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 2

5

MR YJ TRIVEDI:2

9

13/06/2013

APPEARANCE NOTE

MR HRIDAY BUCH ADVOCATE
for RESPONDENT(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 3

0

MR HRIDAY BUCH(2372), for R:3

10

14/06/2013

AFFIDAVIT IN REPLY

MR YJ TRIVEDI ADVOCATE
for RESPONDENT(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 2

0

MR YJ TRIVEDI(948) for R:2

11

16/07/2013

AFFIDAVIT IN RE-JOINDER

MR DAKSHESH MEHTA ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

0

MR DAKSHESH MEHTA(2430) for P:1

12

10/12/2013

APPEARANCE NOTE

MR IH SYED ADVOCATE
for RESPONDENT(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 3

0

MR IH SYED(2321) for R:3

 

Court Proceedings

 

S. No.

Notified Date

CourtCode

Board Sr. No.

Stage

Action

1

15/01/2013

1

-

OFFICE OBJECTION (FILING STAGE)

NEXT DATE

2

17/01/2013

1

43

OFFICE OBJECTION (FILING STAGE)

NEXT DATE

3

01/03/2013

1

3

OFFICE OBJECTION REMOVED

NEXT DATE

4

08/03/2013

1

6

BOARD NO. I (NOTICE & ADJOURNED MATTERS)

NEXT DATE

5

22/03/2013

1

36

FOR REGULAR ADMISSION

NEXT DATE

6

05/04/2013

1

21

BOARD NO. I (NOTICE & ADJOURNED MATTERS)

NEXT DATE

7

26/04/2013

1

74

BOARD NO. I (NOTICE & ADJOURNED MATTERS)

NEXT DATE

8

14/06/2013

1

55

NOTICE & ADJOURNED MATTERS

NEXT DATE

9

05/07/2013

1

92

NOTICE & ADJOURNED MATTERS

NEXT DATE

10

10/07/2013

1

37

NOTICE & ADJOURNED MATTERS

NEXT DATE

11

17/07/2013

1

43

NOTICE & ADJOURNED MATTERS

NEXT DATE

12

31/07/2013

1

41

NOTICE & ADJOURNED MATTERS

NEXT DATE

13

12/08/2013

1

51

NOTICE & ADJOURNED MATTERS

NEXT DATE

14

14/08/2013

1

29

NOTICE & ADJOURNED MATTERS

NEXT DATE

15

02/09/2013

1

40

NOTICE & ADJOURNED MATTERS

NEXT DATE

16

16/09/2013

8

45

NOTICE & ADJOURNED MATTERS

NEXT DATE

17

08/10/2013

8

54

NOTICE & ADJOURNED MATTERS

NEXT DATE

18

10/12/2013

8

45

NOTICE & ADJOURNED MATTERS

NEXT DATE

19

07/01/2014

18

23

NOTICE & ADJOURNED MATTERS

NEXT DATE

20

30/01/2014

18

23

NOTICE & ADJOURNED MATTERS

NEXT DATE

21

12/03/2014

15

48

NOTICE & ADJOURNED MATTERS

FIXED RULE / ADMIT

22

17/06/2014

17

46

FOR FINAL HEARING

NEXT DATE

23

30/06/2014

16

52

FOR FINAL HEARING

NEXT DATE

24

10/07/2014

16

21

FOR FINAL HEARING

NEXT DATE

25

08/08/2014

16

12

FOR FINAL HEARING

NEXT DATE

26

09/09/2014

15

43

FOR FINAL HEARING

NEXT DATE

27

08/10/2014

15

45

FOR FINAL HEARING

NEXT DATE

28

14/11/2014

19

119

FOR FINAL HEARING

NEXT DATE

29

22/12/2014

19

119

FOR FINAL HEARING

 

 

Available Orders

S. No.

Case Details

Judge Name

Order Date

CAV

transferred

1

SPECIAL CIVIL APPLICATION/419/2013

·                     HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA 

·                     HONOURABLE MR.JUSTICE J.B.PARDIWALA

08/03/2013

N

Y

2

SPECIAL CIVIL APPLICATION/419/2013

·                     HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA 

·                     HONOURABLE MR.JUSTICE J.B.PARDIWALA

22/03/2013

N

Y

3

SPECIAL CIVIL APPLICATION/419/2013

·                     HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA 

·                     HONOURABLE MR.JUSTICE J.B.PARDIWALA

14/06/2013

N

Y

4

SPECIAL CIVIL APPLICATION/419/2013

·                     HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA 

·                     HONOURABLE MR.JUSTICE J.B.PARDIWALA

16/09/2013

N

Y

5

SPECIAL CIVIL APPLICATION/419/2013

·                     HONOURABLE MR.JUSTICE A.J.DESAI

12/03/2014

N

Y

1

SPECIAL CIVIL APPLICATION/419/2013

·                     HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA 

·                     HONOURABLE MR.JUSTICE J.B.PARDIWALA

08/03/2013

N

Y

2

SPECIAL CIVIL APPLICATION/419/2013

·                     HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA 

·                     HONOURABLE MR.JUSTICE J.B.PARDIWALA

22/03/2013

N

Y

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10490013

25/03/2014

350,000,000.00

EXPORT-IMPORT BANK OF INDIA

EXPORT-IMPORT BANK OF INDIA, CENTRE ONE BUILDING, FLOOR 21, WTC COMPLEX, MUMBAI, MAHARASHTRA - 400005, INDIA

C03360146

2

10481788

10/02/2014

1,250,000,000.00

BANK OF BARODA

CORPORATE FINANCIAL SERVICES BRANCH, 1ST FLOOR,, 
BOB TOWERS, OPP. LAW GARDEN, ELLISBRIDGE, AHMEDABAD, GUJARAT - 380009, INDIA

B98178411

3

10466339

29/11/2013

500,000,000.00

UNION BANK OF INDIA

IFB, C. U. SHAH CHAMBERS, ASHRAM ROAD, AHMEDABAD, GUJARAT - 380014, INDIA

B92018449

4

10384789

17/10/2012

500,000,000.00

BANK OF BARODA

CORPORATE FINANCIAL SERVICES BRANCH, BANK OF BARODA TOWERS, ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA

B61496022

5

10349308

09/04/2012

420,000,000.00

EXPORT-IMPORT BANK OF INDIA

CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

B37458825

6

10329665

20/12/2011

650,000,000.00

BANK OF BARODA

CORPORATE FINANCIAL SERVICES BRANCH, BANK OF BARODA TOWERS, ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA

B29858016

7

10284330

21/08/2013 *

500,000,000.00

INDIAN OVERSEAS BANK

401, 403 SIGMA LEGACY, NR. POLYTECHNIC CROSS ROAD, IIRM ROAD, AHMEDABAD, GUJARAT - 380015, INDIA

B84319458

8

10260601

21/12/2010

480,000,000.00

BANK OF BARODA

CORPORATE FINANCIAL SERVICES BRANCH, BANK OF BARODA TOWERS, ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA

B03237732

9

10157250

08/04/2009

2,550,000.00

DEPARTMENT OF BIOTECHNOLOGY

BLOCK 2, CGO COMPLEX, LODHI ROAD, NEW DELHI, DELHI - 110003, INDIA

A61567855

10

10090235

31/01/2008

4,320,000.00

HDFC BANK LIMITED

HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA

A33032723

11

10084310

15/03/2010 *

104,000,000.00

CANARA BANK

OPP ADVANCE CINEMA, BHADRA, AHMEDABAD, GUJARAT - 380001, INDIA

A82495987

12

90103410

28/11/2013 *

2,500,000,000.00

BANK OF BARODA

CORPORATE FINANCIAL SERVICES BRANCH, 1ST FLOOR, 
BOB TOWERS, OPP. LAW GARDEN, ELLISBRIDGE, AHMEDABAD, GUJARAT - 380009, INDIA

B92365683

13

90103321

06/10/2003

40,000,000.00

CANARA BANK

BHADRA BRANCH, AHMEDABAD, GUJARAT - 380001, INDIA

-

14

90103308

18/04/2003

30,000,000.00

BANK OF BARODA

ASHRAM ROAD BRANCH, AHMEDABAD, GUJARAT - 380009, INDIA

-

15

90103304

28/03/2003

225,000,000.00

BANK OF BARODA

ASHRAM ROAD BRANCH, AHMEDABAD, GUJARAT, INDIA

-

16

90103292

23/10/2002

50,000,000.00

BANK OF BARODA

ASHRAM ROAD BRANCH, AHMEDABAD, GUJARAT - 380009, INDIA

-

17

90103281

11/02/2014 *

6,800,000,000.00

BANK OF BARODA

CORPORATE FINANCIAL SERVICES BRANCH, BOB TOWERS, OPP. LAWGARDEN, ELLISBRIDGE, AHMEDABAD, GUJARAT - 380009, INDIA

B98178619

18

90103277

12/04/2002

20,000,000.00

CANARA BANK

BHADRA BRANCH, AHMEDABAD, GUJARAT - 380001, INDIA

-

19

90103273

22/03/2002

15,000,000.00

BANK OF BARODA

ASHRAM ROAD BRANCH, AHMEDABAD, GUJARAT, INDIA

-

20

90103269

21/01/2002

3,100,000.00

UNION BANK OF INDIA

INDUSTRIAL FINANCE BRANCH, ASHRAM ROAD BRANCH, AHMEDABAD, GUJARAT - 380014, INDIA

-

21

90103245

28/05/2001

5,000,000.00

CORPORATION BANK

NAVRANGPURA BRANCH, AHMEDABAD, GUJARAT, INDIA

-

22

90103234

27/03/2002 *

100,000,000.00

EXPROT- IMPORT BANK OF INDIA

CENTRE 1; FLOOR21, WORLD TRADE CENTRE; CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

-

23

90103226

08/01/2001

100,000,000.00

EXPORT - IMPORT BANK OF INDIA

CENTRE ONE; WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

-

24

90103221

01/12/2000

30,000,000.00

INDIAN BANK

BHADRA MISSION ROAD, AHMEDABAD, GUJARAT - 380001, 
INDIA

-

25

90103219

29/11/2000

9,000,000.00

CORPORATION BANK

NVRANGPURA BRANCH, AHMEDABAD, GUJARAT, INDIA

-

26

90103209

29/09/2000

60,000,000.00

BANK OF BARODA

ASHRAM ROAD, AHMEDABAD, GUJARAT - 380009, INDIA

-

27

90103170

18/01/2001 *

100,000,000.00

EXPORT - IMPORT BANK OF INDIA

CENTRE ONE; WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

-

28

90103160

18/01/2001 *

450,000,000.00

ICICI LIMITED

ICICI TOWERS, BANDRA KURLA COMPLEX; BANDRA, MUMBAI, MAHARASHTRA - 400051, INDIA

-

29

90103142

12/09/2005 *

780,000,000.00

BANK OF BARODA

ASHRAM ROAD BRANCH, AHMEDABAD, GUJARAT - 380009, INDIA

-

30

90103141

28/11/2013 *

2,500,000,000.00

BANK OF BARODA

CORPORATE FINANCIAL SERVICES BRANCH, 1ST FLOOR,, 
BOB TOWERS, OPP. LAW GARDEN, ELLISBRIDGE, AHMEDABAD, GUJARAT - 380009, INDIA

B92363951

31

90103099

09/11/1995 *

11,200,000.00

BANK OF BARODA

ASHRAM ROAD BRANCH, AHMEDABAD, GUJARAT - 380009, INDIA

-

32

90314778

16/07/1994 *

80,000,000.00

BANK OF BARODA

ASHRAM ROAD, AHMEDABAD, GUJARAT, INDIA

-

33

90314702

13/02/1991

25,000,000.00

BANK OF BARODA

ASHRAM ROAD, AHMEDABAD, GUJARAT, INDIA

-

34

90314186

06/10/1988

3,000,000.00

BANK OF BARODA

ASHRAM ROAD, AHMEDABAD, GUJARAT, INDIA

-

35

90378926

16/07/1988

3,000,000.00

ORISSA STATE FINANCIAL CORPORATION

OMP SQUARE, CUTTACK, ORISSA, INDIA

-

36

90378866

23/04/1991 *

36,000,000.00

UNITED BANK OF INDIA

CUTTACK, CUTTACK, ORISSA, INDIA

-

37

90313496

14/05/1992 *

200,000.00

BANK OF BARODA

ASHRAM ROAD, AHMEDABAD, GUJARAT, INDIA

-

38

90378785

11/02/1985 *

1,800,000.00

INDUSTRIAL PROMOTION AND INVESTMENT CORPORATION OF 
ORRISSA L

JANPATH, BHUBNESHWAR, ORISSA, INDIA

-

 

* Date of charge modification

 

 

UNSECURED LOANS

 

UNSECURED LOANS

31.03.2013

(Rs. In Millions)

31.03.2012

(Rs. In Millions)

LONG-TERM BORROWINGS

 

 

Deposits from others

515.991

569.265

Other loans and advances

349.860

319.443

 

 

 

Total

 

865.851

888.708

 

 

REVIEW OF OPERATIONS

 

For the first time, the Cadila Pharmaceuticals Limited achieved momentous milestone; the revenues during the year were crossed Rs.10000.000 Millions. The Company grew by 18.54% during the year by achieving the sales of Rs.10847.900 Millions over the previous year of Rs.9180.500 Millions. The Profit before Tax (PBT) achieved was Rs.346.800 Millions which was grown by 75% as compared to previous year of Rs.197.800 Millions.

 

The Company expanded its geographical reach the world over, both in API and Formulations. As a result, this year the Company achieved export sales of Rs.3795.400 Millions as against Rs.2927.500 Millions in the previous year, registering a growth of about 30%.

 

The Company is committed to introduce new products / molecules with its R&D efforts in the coming years and achieve substantial growth in sales as well as profitability.

 

 

SCHEME OF AMALGAMATION

 

1)       A Scheme of Amalgamation (the Scheme) under Section 391 to 394 of Companies Act, 1956, for amalgamation of IRM Properties Private Limited ("IPPL" or "Transferor Company") into Cadila Pharmaceuticals Limited ("the Company"), was sanctioned by the Hon ble High Court of Gujarat on 20th November,2013.The Scheme, which shall become operative from effective date i.e. date of filling the certified copies of the Orders of the Hon ble High Court of Gujarat, with the Registrar of Companies, Ahmedabad, Gujarat, is effective from the appointed date i.e. 25th March, 2013. The Company is in process of filling the certified copies of the Orders of the Hon ble High Court of Gujarat, with the Registrar of Companies, Ahmedabad, Gujarat.

 

2)       The Transferor Company was engaged in pharmaceutical and property business.

 

3)       Pursuant to the Scheme, with effect from the Appointed date the whole of the undertaking and assets, properties, debts, liabilities, duties and obligations of the Transferor Company have, under the provisions of Sections 391-394 and all applicable provisions, if any of the Act, without any further act or deed , stand transferred to and vested in and/or deemed to be transferred to and vested to Company, so as to become the business, assets and properties of Company as a part of and consequent upon the Scheme. The undertaking of Transferor have includes all the Transferor Company s Reserves, movable and immovable properties, assets, including lease-hold rights, tenancy rights, industrial and other licenses, registrations, permits, authorisations, quota rights, trade marks, patents and other industrial and intellectual properties, import quotas, electrical connections, telephones, telex, facsimile and other communication facilities and equipments, rights and benefits of all agreements, pending applications and all other interests, rights and powers of every kind, nature and description whatsoever, privileges, liberties, easements, advantages, benefits and approvals of the Transferor Company.

 

4)       Pursuant to the Scheme, the authorised share capital of the Company consisting of Rs.800.000 Millions comprising of 80,000,000 (Eight Crore) equity shares of Rs.10/-each have automatically stand increased by the authorized share capital of Transferor Company amounting to Rs.46.000 Millions.

 

5)       In consideration for the amalgamation, the equity shareholders of IPPL, holding fully paid-up equity shares in IPPL on the effective date, 1 (one) fully paid up 0.01% Redeemable Non-Cumulative Preference Share of Rs.10/-each of the Company have been issued and allotted for every 10 (Ten) equity share of Re. 1 held in IPPL.

 

6)       All the employees of IPPL in service as on effective date have become employee of the Company without any break or interruption in their service on same terms and conditions on which they are engaged as on the effective date. Company further agrees that for the purpose of payment of any retirement benefit/compensation, such immediate uninterrupted past services with the Transferor Company, as the case may be, shall also be taken into account. The Company undertakes to continue to abide by the terms of agreement /settlement entered into by the Transferor company with employees union/ employee or associations as the case may be.

 

7)       The amalgamation has been accounted as per "Amalgamation in the nature of Purchase" as prescribed in Accounting Standard 14 - "Accounting for Amalgamation". Accordingly, the Company have recorded all the assets and liabilities appearing in the books of account of IPPL and transferred to and vested in the Company recorded at their respective fair values as determined by board of directors of the Company as on the effective date. The fair value of the land and building is as certified by the independent valuer and for other assets and liabilities is based on managements assessment of its recoverability and liability for payment. The difference between the excess of the Net Assets Value of IPPL transferred to and recorded by the Company and face value of Preference shares allotted as per 1.4 above, after considering the adjustments mentioned in 1.9 have been credited to Securities Premium account of the Company. "Net Assets Value" is the fair value of assets less fair value of liabilities of the Transferor Company transferred to the Company.

 

8)       Pursuant to the Scheme, with effect from Appointed Date and for any of the financial years ending on or after the Appointed Date, if considered appropriate by the Board of Directors of the Company any or all of the Extraordinary and Exceptional items may be adjusted against the General Reserves of the Company. Extraordinary and / or Exceptional items? means : (a) Impairment, amortization and / or write off / diminution in value of investments and other assets, both tangible and intangible including goodwill, if any, (b) Costs/ expenses / charge / losses on account of write down or transfer of assets or contingent liabilities or deferred tax liabilities which may be suffered by or be required to be accounted by CPL, pursuant to this Scheme or otherwise in the course of its business or in carrying out such restructuring of the operations of CPL as the Board of Directors of CPL consider necessary or proper, (c) Any other costs/ expenses / charge / losses / liabilities which in the opinion of the Board of Directors are extraordinary and exceptional.

 

9)       In pursuant to Scheme, the Board of Directors of the Company has approved in Board meeting dated 20th November, 2013, for written off Rs.256.559 Millions (Debtors Rs.247.977 Millions and loans and advances of Rs.8.582 Millions) to adjust the same against the General Reserve of the Company.

 

 

FIXED ASSETS:

 

·         Land

Buildings

Office building

Plant and equipment

Factory equipments

Furniture and fixtures

Vehicles

Motor vehicles

Office equipment

Other equipments

Livestock

Computer software


 

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 records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                              None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                          None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                          None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 61.85

UK Pound

1

Rs. 97.01

Euro

1

Rs. 77.62

 

 

INFORMATION DETAILS

 

Information Gathered by :

HNA

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

JYTK

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

7

--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

YES

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTERS 

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

52

 

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

 

--

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.