MIRA
INFORM REPORT
|
Report Date : |
29.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
TRIDENT CHEMPHAR LIMITED |
|
|
|
|
Registered
Office : |
SY. No. 66 and 67, Miyapur, Hyderabad-500050, Telangana |
|
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|
Country : |
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|
|
Financials (as
on) : |
31.03.2013 |
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|
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|
Date of
Incorporation : |
21.02.2007 |
|
|
|
|
Com. Reg. No.: |
01-052901 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.50.000 Millions |
|
|
|
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CIN No.: [Company Identification
No.] |
U24232TG2007PLC052901 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDT02886C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAEFT8416H |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Trading in Chemicals Minerals and Mines. |
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|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an associate company “Aurobindo Pharma Limited”. It is an
established company satisfactory track. The company possesses an acceptable business profile backed by the
reputational benefit from its elite group resulting into likely improvement
in its credit profile marked by a stake sale in three subsidiaries which
brought in an additional funds. Management has witnessed a better increase in its sales volume and has
reported a minimal profit, with the help of which the management is gradually
wiping off its accumulated losses during 2013. The rating also take into consideration the increased working capital
requirements resulting in increased external borrowings, along with huge
payable during the year under review. However, as per indirect sources, we found that the company has
slightly improved its debt repayment profile during FY 14. Trade relations appears to be fair. Business is active. Payment term
are reported as slow but correct. In view of experienced promoters, the subject can be considered for
business dealings with caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
|
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
Blackstone may buy stake
in BlueRidge SEZ in line with the fund’s real estate strategy in
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the
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 |
|
|
Rating |
Long term bank facilities: BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
11.04.2014 |
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.
INFORMATION DECLINED BY
|
Name : |
Mr. Tamil Mani |
|
Designation : |
Manager |
|
Contact No.: |
91-9989058850 |
|
Date : |
27.09.2014 |
LOCATIONS
|
Registered Office : |
SY. No. 66 and 67, Miyapur, Hyderabad-500050, |
|
Tel. No.: |
91-40-40408055/40408080 |
|
Fax No.: |
91-40-40408060 |
|
E-Mail : |
DIRECTORS
As on 26.09.2013
|
Name : |
Mr. Gelli Venkata Seshaiah |
|
Designation : |
Director |
|
Address : |
2-1-186/1, Flat No. 201, Sree Residency, Nallakunta, |
|
Date of Birth/Age : |
30.06.1949 |
|
Qualification: |
M.Sc., CAIIB |
|
Date of Appointment : |
21.02.2007 |
|
Din No.: |
00778048 |
|
|
|
|
Name : |
Subramani Suresh |
|
Designation : |
Whole Time Director |
|
Address : |
B7, Sri Padhuka Appartemnt No. 56, First Street, Postal Colony, West Mambalm,
Chennai – 600060, Tamilnadu, India |
|
Date of Birth/Age : |
31.05.1957 |
|
Qualification: |
B.Com |
|
Date of Appointment : |
05.12.2013 |
|
Din No.: |
02633641 |
|
|
|
|
Name : |
Mr. Sashi Kumaran Parambath |
|
Designation : |
Director |
|
Address : |
6-3-1219-12/202, Methadist Colony, Begumpet, Hyderabad-500016, |
|
Date of Birth/Age : |
24.08.1967 |
|
Qualification: |
B.Com |
|
Date of Appointment : |
30.11.2009 |
|
Din No.: |
02752493 |
|
|
|
|
Name : |
Mr. Rohit Reddy Penaka |
|
Designation : |
Director |
|
Address : |
8-3-169/46, Siddarathnagar, Vengalrao Nagar, S R Nagar, |
|
Date of Birth/Age : |
01.10.1988 |
|
Date of Appointment : |
27.09.2010 |
|
Din No.: |
02624136 |
|
|
|
|
Name : |
Penaka sarath chandra reddy |
|
Designation : |
Director |
|
Address : |
Plot No. 46/8-3-169, Siddartha Nagar, Behind Vengal Rao Nagar, |
|
Date of Birth/Age : |
22.02.1985 |
|
Qualification: |
BBA |
|
Date of Appointment : |
21.02.2007 |
|
Din No.: |
01628013 |
KEY EXECUTIVES
|
Name : |
Mr. Tamil Mani |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Penaka Sarath Chandra Reddy |
|
4999400 |
|
Subramani Suresh |
|
100 |
|
Gelli Venkata Seshaiah |
|
100 |
|
Gorla Madhu |
|
100 |
|
Gopala |
|
100 |
|
K.V. Murali |
|
100 |
|
B Samba Siva Reddy |
|
100 |
|
Total |
|
5000000 |
Equity Share Break up (Percentage of Total Equity)
As on 26.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
99.99 |
|
Other |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading in Chemicals Minerals and Mines. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
· Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India ·
Andhra Bank, Somajiguda Branch, 6-3-352/2,
Astral Heights, Road No. 1, Banjara Hills, ·
Axis Bank Limited, 6-3-879/B, Greenlandroad,
Begumpet, |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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|
Name : |
K. Nagaraju and Associates Chartered Accountants |
|
Address : |
No. 1-8-197, Chikadpally, Hyderabad-500020, |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AANFK1375R |
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|
|
|
Enterprises which
are owned, or have significant influence of or are
partners with Key management personnel and their relatives: |
·
Aurobindo Pharma Limited, ·
Sacha Chemphar Private Limited, |
CAPITAL STRUCTURE
AFTER 26.09.2013
Authorised Capital : Rs. 400.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 150.000
Millions
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000
Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000
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 |
50.000 |
50.000 |
50.000 |
|
(b) Reserves & Surplus |
(3.834) |
(14.777) |
(17.404) |
|
(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) |
46.166 |
35.223 |
32.596 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
26.277 |
121.354 |
220.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.445 |
0.294 |
0.006 |
|
Total
Non-current Liabilities (3) |
26.722 |
121.648 |
220.006 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
610.505 |
512.636 |
310.111 |
|
(b) Trade payables |
502.329 |
438.452 |
128.305 |
|
(c) Other current liabilities |
182.278 |
162.357 |
207.792 |
|
(d) Short-term provisions |
3.876 |
3.580 |
3.580 |
|
Total
Current Liabilities (4) |
1298.988 |
1117.025 |
649.788 |
|
|
|
|
|
|
TOTAL |
1371.876 |
1273.896 |
902.390 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4.314 |
2.750 |
0.000 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
36.752 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
598.284 |
526.610 |
504.110 |
|
(c) Deferred tax assets (net) |
0.151 |
0.078 |
0.002 |
|
(d) Long-term Loan and Advances |
1.584 |
15.600 |
6.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
641.085 |
545.038 |
510.112 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
87.043 |
18.369 |
40.926 |
|
(c) Trade receivables |
481.685 |
612.339 |
246.986 |
|
(d) Cash and cash equivalents |
108.151 |
54.063 |
79.443 |
|
(e) Short-term loans and
advances |
46.502 |
40.864 |
23.616 |
|
(f) Other current assets |
7.410 |
3.223 |
1.307 |
|
Total
Current Assets |
730.791 |
728.858 |
392.278 |
|
|
|
|
|
|
TOTAL |
1371.876 |
1273.896 |
902.390 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
1760.439 |
1179.080 |
633.024 |
|
|
Other Income |
139.012 |
113.230 |
31.111 |
|
|
TOTAL
(A) |
1899.451 |
1292.310 |
664.135 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1692.189 |
1041.474 |
519.895 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(68.673) |
22.557 |
(27.945) |
|
|
Employees benefits expense |
6.068 |
5.450 |
3.806 |
|
|
Other expenses |
162.159 |
144.179 |
121.717 |
|
|
Prior period items |
0.000 |
0.000 |
1.669 |
|
|
TOTAL
(B) |
1791.743 |
1213.660 |
619.142 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
107.708 |
78.650 |
44.993 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
87.782 |
75.534 |
49.517 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
19.926 |
3.116 |
-4.524 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
0.323 |
0.164 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
19.603 |
2.952 |
(4.524) |
|
|
|
|
|
|
|
Less |
TAX
(I) |
8.660 |
0.325 |
12.638 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
10.943 |
2.627 |
(17.162) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
2.19 |
0.53 |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.58 |
0.20 |
-2.58 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.11 |
0.25 |
-0.71 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.66 |
0.40 |
-1.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.42 |
0.08 |
-0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
13.79 |
18.00 |
16.26 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.56 |
0.65 |
0.60 |
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 |
50.000 |
50.000 |
50.000 |
|
Reserves & Surplus |
(17.404) |
(14.777) |
(3.834) |
|
Net
worth |
32.596 |
35.223 |
46.166 |
|
|
|
|
|
|
long-term borrowings |
220.000 |
121.354 |
26.277 |
|
Short term borrowings |
310.111 |
512.636 |
610.505 |
|
Total
borrowings |
530.111 |
633.990 |
636.782 |
|
Debt/Equity
ratio |
16.263 |
17.999 |
13.793 |
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 |
633.024 |
1179.080 |
1760.439 |
|
|
|
86.262 |
49.306 |
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 |
633.024 |
1179.080 |
1760.439 |
|
Profit |
(17.162) |
2.627 |
10.943 |
|
|
(2.71%) |
0.22% |
0.62% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
REVIEW OF OPERATIONS
AND FUTURE PLANS
The company in the Financial Year 2012-13 has achieved robust growth has resulted into considerable increase in revenues, profit before depreciation interest and tax. There is an existing severe competition in the Industry, in spite of the same; during the year the company revenue has increased substantially from Rs. 1292.310 Millions to Rs.1899.453 Millions i.e.; 70% high compared to previous year. Similarly the bottom line of the Company has improved and turned in to black, recording a profit of Rs.10.943 Millions as against Rs.2.627 Millions during the previous year. The Company has shown a tremendous performance, in spite of foreign exchange fluctuation loss of Rs.3.20 crores due to high volatility in the foreign currencies.
The company has expansion plans and as part of its business strategy, it has recruited experienced and valuable employees in the company, in line with other growth objectives in all verticals includes Finance and Banking and Marketing and business development head, their experience and exposure in their respective fields will help the company in achieving its business prospects.
The company has a good market share in Methanol and added new products line; include Acetone, MDC etc will substantially increase revenues during the financial year. Keeping in view of favorable market conditions, inclusion of experienced talent, the Company is projecting a turnover of Rs.5000.000 to 5500.000 Millions during the Financial Year 2013-14 results into considerable business margins. The company will maintain the same momentum in all key parameters may result in growth in all dimensions of the company during the current year and in all subsequent years.
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Intercorporate deposits |
0.000 |
90.000 |
|
and advances from directors |
1.000 |
30.000 |
|
Total |
1.000 |
120.000 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10405974 |
13/01/2014 * |
700,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. |
B96149265 |
|
2 |
10063582 |
03/04/2014 * |
1,000,000,000.00 |
AXIS BANK LIMITED |
CORPORATE BANKING BRANCH, 6-3-879/B,, G. PULLA RE |
C03663739 |
* Date of charge modification
FIXED ASSETS
Tangible assets
· Furniture and fixtures
· Vehicles
PRESS RELEASES
ACTAVIS TO SELL SOME EUROPEAN OPERATIONS TO AUROBINDO PHARMA
JANUARY 18, 2014
Actavis Plc (ACT) agreed to sell its generic drug operations in seven western European countries to India’s Aurobindo Pharma Limited. (ARBP) as it focuses on other regions including Southeast Asia.
Aurobindo will buy Actavis’s generic products, marketing authorizations and dossier license rights in France, Italy, Spain, Portugal, Belgium, Germany and the Netherlands, the Dublin-based drugmaker said in a statement. The purchase, expected to cost about 30 million euros ($41 million), will be funded with Aurobindo’s own cash, the Indian company said in a separate statement.
“This transaction will permit Actavis to focus management time and resources to support accelerated investment in driving faster growth of other markets, including Central and Eastern Europe and Southeast Asia,” Sigurdur Oli Olafsson, President of Actavis Pharma, said in the statement.
Actavis said earlier this week it will end its presence in China due to a difficult business climate. While the country has more than 1.3 billion potential customers, the government has made it a difficult place to conduct business, Chief Executive Officer Paul Bisaro said in an interview. The company has sold one operation there and is in talks to sell another.
Actavis shares gained 1.4 percent to $183.28 in New York yesterday. The stock has more than doubled in the past year. Aurobindo dropped 3.1 percent to 384.90 rupees in Mumbai yesterday compared with a 1 percent decline in the benchmark S&P BSE Sensex (SENSEX) index.
Hospital Sales
The acquisition will provide a “readymade hospital sales infrastructure” for Aurobindo to introduce its own injectable and specialty portfolio across Western Europe, the Hyderabad, southern India-based company said.
In August, Aurobindo agreed to buy a 57 percent stake in Silicon Life Sciences Pvt. from a consortium led by Trident Chemphar Ltd. for an undisclosed sum. Aurobindo and its units had 3.1 billion rupees ($50 million) of cash and equivalents and 35.1 billion rupees of total debt as of Sept. 30, according to data compiled by Bloomberg.
The two drugmakers will also enter into a long-term supply arrangement, Actavis said.
AUROBINDO TO ACQUIRE 60% STAKE IN AN UPCOMING MANUFACTURING FACILITY OF
CELON LABORATORIES LIMITED
AUGUST 10, 2013
HYDERABAD: Hyderabad-based pharma player Aurobindo Pharma on Saturday informed the bourses that its board of directors had approved a couple of acquisitions and joint venture opportunities through a wholly owned subsidiary. However, the company did not disclose the name of the subsidiary.
According to the filing on the bourses, the company said that it will invest Rs
156.000 millions to acquire 60% stake in an upcoming manufacturing facility of
Celon Laboratories Limited. The facility will manufacture hormonal and oncology
products.
Apart from acquiring a majority stake in the firm, it will further invest Rs
323.000 millions over the next year towards completion and approval of the
facility including new product developments in the hormonal and oncology area.
In another acquisition deal, the company's board has decided to acquire 57% of the equity stake in Silicon Life Sciences Private Limited (Silicon), a company engaged in manufacture of non-sterile penems (a class of antibiotics), from its existing shareholders. Aurobindo plans to buy 49% of its stake from VVR group and 8% from Trident Chemphar Limited. "Post this acquisition, the equity holding of the company would increase to 75%, thereby making Silicon a subsidiary of the company," it added
Meanwhile, the company plans to focus on its injectable business by spinning
off of the business to a wholly owned subsidiary.
"In order to strengthen and provide focused growth to the injectable business
and to leverage strategic opportunities, the board considered the option of
spin-off of the injectable business to a wholly owned subsidiary as a going
concern. The board had constituted a sub-committee consisting a majority of
independent directors to evaluate the draft scheme of arrangement placed before
the board and recommend a final scheme to the board for consideration,"
the company statement said.
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 records 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.61.57 |
|
|
1 |
Rs.100.42 |
|
Euro |
1 |
Rs.78.45 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.