MIRA
INFORM REPORT
|
Report Date : |
25.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
WOCKHARDT LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
08.07.1999 |
|
|
|
|
Com. Reg. No.: |
11-120720 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 3534.300 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24230MH1999PLC120720 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NSKW00152F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACW2472M |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Subject engaged in the business of Manufacture
and Marketing of Pharmaceutical Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 49000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
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Litigation : |
Exist |
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|
Comments : |
Subject is a well-established company having fine track record. There is drastic dip in the profit of the company during 2014.
However, general financial position of the company seems to be sound and
healthy. Trade relations are fair. Business is active. Payment terms are
reported to be regular and as per commitments. The company can be considered good for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 = AA- |
|
Rating Explanation |
Have degree of safety and carry very low
credit risk |
|
Date |
21.02.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A1+ |
|
Rating Explanation |
Have very strong degree of safety and carry
lowest credit risk |
|
Date |
21.02.2014 |
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
31-03-2014.
LOCATIONS
|
Registered / Corporate Office : |
Wockhardt Towers, Bandra-Kurla Complex, Bandra (East), Mumbai –
400051, Maharashtra, India |
|
Tel. No.: |
91-22-26534444 / 26533333 / 26522727 |
|
Fax No.: |
91-22-26522727 / 26522828 / 26534242 |
|
E-Mail : |
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|
Website : |
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|
Factory 1 : |
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|
Tel. No.: |
91-240-6626444 |
|
Fax No.: |
91 240 6626333 |
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|
|
|
Factory 2 : |
L1 M.I.D.C., Chikalthana, |
|
Tel. No.: |
91-240-6637444 |
|
Fax No.: |
91-240-6637333 |
|
|
|
|
Factory 3 : |
87A, Silver Industrial Estate, Bhimpore, Nani Daman - 396210, Union
Territory, India |
|
Tel. No.: |
91-260-6610300 / 6610333 |
|
Fax No.: |
91-260-2220940 |
|
|
|
|
Factory 4 : |
106/4,5,7 Kadaiya, Nani Daman 396210, Union Territory India |
|
Tel. No.: |
91260-6531306 |
|
Fax No.: |
91-260-2220214 |
|
|
|
|
Factory 5 : |
138 G.I.D.C. Estate, Ankleshwar 393002, District Bharuch, |
|
Tel. No.: |
91-2646-661444 |
|
Fax No.: |
91-2646-661555 |
|
|
|
|
Factory 6 : |
P O Barotiwala, District Solan, Himachal Pradesh 174103, India |
|
Tel. No.: |
91-1795-664444 |
|
Fax No.: |
91-1795-664242 |
|
|
|
|
Factory 7 : |
Ash Raod North, Wexham Industrial Estate, |
|
Tel. No.: |
+44-1978-661261 |
|
Fax No.: |
+44-1978-660130 |
|
|
|
|
Factory 8 : |
Ballymacarbry Clonmel Co., |
|
Tel. No.: |
+353-52-6186000 |
|
Fax No.: |
+353-52-6136311 |
|
|
|
|
Factory 9 : |
6451, |
|
Tel. No.: |
+1-847+9675600 |
|
Fax No.: |
+1-847-9672211 |
|
|
|
|
Factory 10 : |
B-15/2, MIDC Waluj-431136, Maharashtra, India |
|
Tel. No.: |
91-240-6636400 |
|
Fax No.: |
91-240-6636444 |
|
|
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|
International Office : |
Located At:
|
|
|
|
|
Research Centers : |
Located At:
|
DIRECTORS
As on: 31.03.2014
|
Name : |
Dr. Habil Khorakiwala |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Dr. Huzaifa Khorakiwala |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Dr. Murtaza Khorakiwala |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. Shekhar Datta |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Aman Mehta |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. R A Shah |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. D. S. Brar |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Sanjaya Baru |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. V R Khetan |
|
Designation : |
Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.06.2014
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding of
Promoter and Promoter Group |
|
|
|
|
|
|
|
|
887625 |
0.81 |
|
|
81097757 |
73.82 |
|
|
81985382 |
74.63 |
|
|
|
|
|
Total shareholding
of Promoter and Promoter Group (A) |
81985382 |
74.63 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
1197218 |
1.09 |
|
|
2046610 |
1.86 |
|
|
1400 |
0.00 |
|
|
6115775 |
5.57 |
|
|
9361003 |
8.52 |
|
|
|
|
|
|
2977228 |
2.71 |
|
|
|
|
|
|
12796681 |
11.65 |
|
|
974546 |
0.89 |
|
|
1762530 |
1.60 |
|
|
805293 |
0.73 |
|
|
822770 |
0.75 |
|
|
1867 |
0.00 |
|
|
132600 |
0.12 |
|
|
18510985 |
16.85 |
|
Total Public
shareholding (B) |
27871988 |
25.37 |
|
Total (A)+(B) |
109857370 |
100.00 |
|
(C) Shares held by
Custodians and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
150533 |
0.00 |
|
|
150533 |
0.00 |
|
Total (A)+(B)+(C) |
110007903 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject engaged in the business of Manufacture
and Marketing of Pharmaceutical Products. |
|
|
|
|
Exports : |
|
|
Products : |
Not Divulged |
|
Countries : |
Not Divulged |
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|
|
|
Imports : |
|
|
Products : |
Not Divulged |
|
Countries : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
Not Available |
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Bankers : |
·
ICICI Bank ·
State Bank of India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Haribhakti and Company Chartered Accountants |
|
|
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|
Holding Company : |
|
|
|
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|
Associates : |
|
|
|
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|
Wholly Owned Subsidiaries : |
|
|
|
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|
Fellow Subsidiary : |
·
Carol Info Services Limited |
|
|
|
|
Other Related Parties : |
·
Palanpur Holdings and Investments Private Limited ·
Wockhardt Hospitals Limited ·
Merind Limited ·
Wockhardt Foundation ·
Dartmour Holdings Private Limited |
CAPITAL STRUCTURE
As on: 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000000 |
Equity Shares |
Rs.5/- each |
Rs. 1250.000 Millions |
|
2000000000 |
Preference Shares |
Rs.5/- each |
Rs. 10000.000 Millions |
|
|
TOTAL |
|
Rs. 11250.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
109435903 |
Equity Shares |
Rs.5/- each |
Rs. 547.200
Millions |
|
167750 |
Add : Shares Issued during the year Pursuant to ESOS |
|
Rs. 0.900 Million |
|
121454927 |
Optionally Convertible Cumulative Redeemable Preference Shares |
Rs.5/- each |
Rs. 607.200 Millions |
|
475659941 |
Non-Convertible Cumulative Redeemable Preference Shares |
Rs.5/- each |
Rs. 2378.300 Millions |
|
|
|
|
|
|
|
TOTAL |
|
Rs. 3534.300 Millions |
LISTING DETAILS:
|
|
BSE : 532300 NSE : WOCKPHARMAEQ |
|
Stock Exchange Place : |
Ř National Stock
Exchange of India Limited Ř
The Stock Exchange, Mumbai |
|
Listed Date : |
Not Divulged |
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 |
3534.300 |
3533.400 |
8160.900 |
|
(b) Reserves & Surplus |
8821.300 |
7633.800 |
654.900 |
|
(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) |
12355.600 |
11167.200 |
8815.800 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
70.000 |
95.200 |
7415.200 |
|
(b) Deferred tax liabilities (Net) |
1367.000 |
1205.500 |
2051.400 |
|
(c) Other long
term liabilities |
6286.300 |
0.000 |
0.000 |
|
(d) long-term
provisions |
280.500 |
260.800 |
289.000 |
|
Total Non-current
Liabilities (3) |
8003.800 |
1561.500 |
9755.600 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
1744.400 |
1631.700 |
2222.800 |
|
(b)
Trade payables |
3306.900 |
4693.000 |
3695.300 |
|
(c) Other
current liabilities |
8231.800 |
11746.500 |
6943.300 |
|
(d) Short-term
provisions |
271.100 |
873.300 |
211.500 |
|
Total Current
Liabilities (4) |
13554.200 |
18944.500 |
13072.900 |
|
|
|
|
|
|
TOTAL |
33913.600 |
31673.200 |
31644.300 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
9943.600 |
8768.600 |
8212.500 |
|
(ii)
Intangible Assets |
385.200 |
597.600 |
347.100 |
|
(iii)
Capital work-in-progress |
5818.300 |
4817.900 |
4736.600 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
3371.400 |
|
(b) Non-current
Investments |
3079.500 |
3079.500 |
3079.500 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3723.200 |
3429.200 |
2941.600 |
|
(e) Other
Non-current assets |
1061.900 |
49.200 |
0.000 |
|
Total Non-Current
Assets |
24011.700 |
20742.000 |
22688.700 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
4844.600 |
5275.900 |
4530.700 |
|
(c)
Trade receivables |
2463.600 |
2066.300 |
2608.400 |
|
(d) Cash
and cash equivalents |
857.900 |
1839.300 |
759.400 |
|
(e)
Short-term loans and advances |
1735.800 |
1749.700 |
1057.100 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
9901.900 |
10931.200 |
8955.600 |
|
|
|
|
|
|
TOTAL |
33913.600 |
31673.200 |
31644.300 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
18052.700 |
24711.800 |
22971.000 |
|
|
|
Other Income |
3193.800 |
455.000 |
199.700 |
|
|
|
TOTAL (A) |
21246.500 |
25166.800 |
23170.700 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
5133.100 |
8593.000 |
6702.900 |
|
|
|
Purchases of Stock-in-Trade |
2809.600 |
2614.300 |
2365.300 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
47.100 |
3010.700 |
2182.900 |
|
|
|
Employees benefits expense |
3545.300 |
5609.700 |
4812.300 |
|
|
|
Exchange Fluctuation Loss / (Gain) Net |
406.400 |
(2881.800) |
1616.500 |
|
|
|
Other expenses |
5857.500 |
(829.500) |
(843.900) |
|
|
|
TOTAL (B) |
17799.000 |
-198.400 |
270.500 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3447.500 |
25365.200 |
22900.200 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
336.700 |
1543.700 |
2153.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3110.800 |
23821.500 |
20746.600 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
963.200 |
807.700 |
663.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2147.600 |
23013.800 |
20083.500 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
161.500 |
(829.800) |
(1863.200) |
|
|
|
|
|
|
|
|
|
|
Profit for the
year from Continuing Operations |
0.000 |
6067.600 |
1384.300 |
|
|
|
|
|
|
|
|
|
|
Profit for the
discontinued operations (before tax) |
0.000 |
236.000 |
589.600 |
|
|
|
|
|
|
|
|
|
|
Tax expenses of
discounted operations |
0.000 |
(76.600) |
(133.900) |
|
|
|
|
|
|
|
|
|
|
Profit from discontinued
operations |
0.000 |
159.400 |
455.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
1986.100 |
6227.000 |
1840.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
|
|
11740.400 |
12094.400 |
|
|
|
Management and Technical fees |
|
57.800 |
128.100 |
|
|
|
Out licensing fees |
|
1677.700 |
1400.000 |
|
|
|
Royalty |
|
31.100 |
7.300 |
|
|
|
Interest |
|
34.800 |
31.400 |
|
|
|
Research and Development Services |
|
40.600 |
101.900 |
|
|
|
Assignment of New Chemical Entity |
|
1000.000 |
0.000 |
|
|
|
Others |
|
0.000 |
26.000 |
|
|
TOTAL EARNINGS |
11025.600 |
14582.400 |
13789.100 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
|
2538.200 |
2314.900 |
|
|
|
Component and Spares |
|
44.900 |
217.900 |
|
|
|
Capital Goods |
|
260.200 |
366.400 |
|
|
TOTAL IMPORTS |
3760.100 |
2843.300 |
2899.200 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
18.10 |
56.88 |
16.81 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
9.35 |
94.74 |
94.72 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.90 |
93.13 |
87.43 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.58 |
96.80 |
98.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
2.06 |
2.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.15 |
0.15 |
1.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.73 |
0.58 |
0.69 |
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 |
8160.900 |
3533.400 |
3534.300 |
|
Reserves & Surplus |
654.900 |
7633.800 |
8821.300 |
|
Net worth |
8815.800 |
11167.200 |
12355.600 |
|
|
|
|
|
|
long-term borrowings |
7415.200 |
95.200 |
70.000 |
|
Short term borrowings |
2222.800 |
1631.700 |
1744.400 |
|
Total borrowings |
9638.000 |
1726.900 |
1814.400 |
|
Debt/Equity ratio |
1.093 |
0.155 |
0.147 |
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 |
22971.000 |
24711.800 |
18052.700 |
|
|
|
7.578 |
(26.947) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
22971.000 |
24711.800 |
18052.700 |
|
Profit |
21946.700 |
23843.600 |
1986.100 |
|
|
95.54% |
96.49% |
11.00% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
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 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2014 |
As on 31.03.2013 |
|
LONG TERM
BORROWINGS |
|
|
|
Sales tax deferral loan |
21.200 |
31.000 |
|
Loans from Others |
39.100 |
45.400 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Buyers’ credit |
112.100 |
0.000 |
|
|
|
|
|
Total |
172.400 |
76.400 |
LITIGATION
DETAILS:
|
Case Details Bench:-Bombay
Main Matter
District:- MUMBAI Bench:- DIVISION Status:- Pre-Admission Category:- NOTICE OF MOTION Last Date : 05/02/2014 Last Coram: ACCORDING TO SITTING LIST Act : Code of civil procedure 1908 |
STATEMENT OF STANDALONE
UNAUDITED RESULTS FOR THE QUARTER ENDED JUNE 30, 2014
(Rs.
In Millions)
|
Sr. No. |
Particulars |
Quarter Ended |
|
|
30.06.2014 (Unaudited) |
|
|
|
Income from operations |
|
|
|
Net Sales/Income from Operations |
4854.400 |
|
|
Other operating income |
0.000 |
|
|
Total Income from Operations (Net) |
4854.400 |
|
|
|
|
|
|
Expenditure |
|
|
|
Cost of Materials
Consumed |
1175.900 |
|
|
Purchases of
Stock-in-Trade |
931.100 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
-97.300 |
|
|
Employees benefits
expense |
967.500 |
|
|
Depreciation |
247.000 |
|
|
Other expenditure |
1562.900 |
|
|
Total Expenses |
4787.100 |
|
|
|
|
|
|
Profit From Operations before
Other Income, Interest and Exceptional Items (1-2) |
67.300 |
|
|
Other Income |
47.500 |
|
|
Exchange fluctuation |
29.600 |
|
|
Profit from Ordinary
Activities before Finance Cost and Exceptional Items (3+4) |
85.200 |
|
|
Finance Cost |
49.300 |
|
|
Profit from Ordinary
Activities after Finance Cost but before provision for Onerous Contracts and
Exceptional Items (5+6) |
35.900 |
|
|
Exceptional Items |
0.000 |
|
|
Profit /(Loss) from
ordinary activities before tax (7-8) |
35.900 |
|
|
Tax Expense |
-17.600 |
|
|
Net Profit from Ordinary
Activities after tax (9+10) |
53.500 |
|
|
Extraordinary Items |
0.000 |
|
|
Net profit for the period
(11+12) from continuing operations |
53.500 |
|
|
Profit from Discontinuing
operations before tax |
0.000 |
|
|
Tax on Discontinuing
operations |
0.000 |
|
|
Profit
after tax from discounting operations (14a+14b) |
0.000 |
|
|
Net Profit/ (Loss) from
ordinary activities after tax (9-10) |
0.000 |
|
|
Paid-up Equity Share Capital
(Rs. 5/- Per Share) |
53.500 |
|
|
Reserves Excluding Revaluation Reserve per Balance Sheet of the
previous accounting |
550 |
|
|
EPS before Extraordinary items |
|
|
|
Basic |
0.49* |
|
|
Diluted |
0.49* |
|
|
|
|
|
|
Public Shareholding |
|
|
|
-Number of Shares |
27871988 |
|
|
- Percentage of Shareholding |
25.34% |
|
|
Promoters and Promoter Group Shareholding |
|
|
|
a) Pledged/Encumbered |
|
|
|
- Number of Shares |
0 |
|
|
- Percentage of Shares (as a % of the Total Shareholding of promoter
and promoter group) |
0.00% |
|
|
- Percentage of Shares (as a % of the Total Share Capital of the
Company) |
0.00% |
|
|
b) Non Encumbered |
|
|
|
- Number of Shares |
81985382 |
|
|
- Percentage of Shares (as a % of the Total Shareholding of Promoter
and Promoter Group) |
100.00% |
|
|
- Percentage of Shares (as a % of the Total Share Capital of the
Company) |
74.53% |
|
Particulars |
30.06.2014 |
|
Investment Complaints |
|
|
Pending at the beginning of the quarter |
0 |
|
Received during the quarter |
0 |
|
Disposed of during the quarter |
0 |
|
Remaining unresolved at the end of the quarter |
0 |
Note:
The results were reviewed by the Audit Committee and approved by the Board of Directors at their meetings held on August 12, 2014.
During the quarter, the Company has issued and allotted 256,750 equity shares of
face value of Rs. 5 each pursuant to exercise of employee stock options.
During the quarter, the Company has reviewed the useful life of its tangible
assets as required under Schedule II of the Companies Act 2013, according to
which useful life estimated earlier are found to be appropriate. Hence, there
is no impact on the profits for the quarter. The Company has also identified
significant components and their useful life which will be depreciated over the
balance useful life effective April 01, 2014. As a result of above,
depreciation charge for the quarter is higher by Rs. 21.900 millions Further,
in respect of assets with revised useful life as nil, the carrying amount of
assets (net of deferred tax) has been charged to the opening reserves as on April
01, 2014 pursuant to the Companies Act, 2013.
The Company is exclusively into Pharmaceutical business Segment.
Figures for the quarter ended March 31, 2014 are the balancing figures between
the audited figures in respect of the full financial year and the unaudited
published figures up to the third quarter of the relevant financial year.
Previous period figures have been recast/ re-classified to conform to the
current period's presentation.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10253301 |
07/12/2011 * |
26,152,000.00 |
Department Of
Biotechnology |
6-8th Floor, Block
No. 2, CGO Complex, Lodhi Road, New Delhi, Delhi - 110003, India |
B27629591 |
|
2 |
10239938 |
15/03/2011 * |
16,412,700,000.00 |
Sbicap Trustee
Company Limited |
202, Maker
Tower, 'E', Cuffe Parade, Colaba, Mumbai, Maharashtra - 400005, India |
B09941931 |
|
3 |
10240003 |
31/08/2010 |
16,932,800,000.00 |
Sbicap Trustee
Company Limited |
202, Maker
Tower, 'E', Cuffe Parade, Colaba, Mumbai, Maharashtra - 400005, India |
A94607587 |
|
4 |
10238614 |
18/08/2010 |
29,864,500,000.00 |
State Bank of
India |
Capital Market
Branch, Videocon Heritage, Ground |
A92103076 |
|
5 |
10225953 |
29/06/2010 |
4,667,210,000.00 |
Sbicap Trustee
Company Limited |
202, Maker Tower,
'E', Cuffe Parade, Colaba, Mumbai, Maharashtra - 400005, India |
A88114897 |
|
6 |
10195016 |
23/11/2009 |
484,900,000.00 |
HDFC Bank
Limited |
HDFC Bank House
Senapati Bapat Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India |
A76885995 |
|
7 |
10192780 |
23/11/2009 |
2,990,100,000.00 |
ICICI Bank
Limited |
Landmarkrace
Cource Circle, Alkapuri, Baroda, Gujarat - 390015, India |
A75404855 |
|
8 |
10199434 |
23/11/2009 |
3,820,000,000.00 |
State Bank of
India |
Corporate Accounts
Group Branch, Voltas Hose, 23, J.N. Heredia Marg, Mumbai, Maharashtra -
400001, India |
A76706431 |
|
9 |
10038845 |
08/02/2007 |
11,250,000,000.00 |
State Bank of
India |
New Issue And
Securities And Services Divsions, |
A11304755 |
|
10 |
90144213 |
21/04/2009 * |
4,725,000,000.00 |
State Bank of
India |
Corporate
Accounts Group Branch, Voltas House, 23, J.N Heredia Marg, Voltas House, Ballard
Estate, |
A63782932 |
|
11 |
90143190 |
29/12/2000 |
1,410,000,000.00 |
State Bank of
India |
Corporate
Accounts Branch, Voltas House; J.N. Her |
- |
|
12 |
90146062 |
03/01/2000 |
1,033,200,000.00 |
State Bank of
India |
CAG Branch;
Killick House, Charanjit Raj Marg, Mumbai, Maharashtra - 400001, India |
- |
FIXED ASSETS:
·
Trademarks / Technical knowhow
·
Software
·
Freehold land
·
Leasehold land
·
Buildings
·
Plant and Machinery
·
Furniture and Fittings
·
Office Equipments
·
Information Technology Equipments
·
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.02 |
|
|
1 |
Rs. 99.99 |
|
Euro |
1 |
Rs. 78.37 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
60 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely
sound financial base with the strongest capability for timely payment of interest
and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate
working capital. No caution needed for credit transaction. It has above
average (strong) capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational
base are regarded healthy. General unfavourable factors will not cause fatal
effect. Satisfactory capability for payment of interest and principal sums |
Fairly
Large |
|
41-55 |
Ba |
Overall operation is considered
normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome
financial difficulties seems comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent.
Repayment of interest and principal sums in default or expected to be in
default upon maturity |
Limited
with full security |
|
<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit
not recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.