MIRA INFORM REPORT
|
Report No. : |
317507 |
|
Report Date : |
15.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
MEDISPRAY LABORATORIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 344/345, Kundaim Industrial Estate, Kundaim – 403115, Goa |
|
Tel. No.: |
91-832-2395656 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
21.02.1992 |
|
|
|
|
Com. Reg. No.: |
24-002801 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.510 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52311GA1992PTC002801 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM4153B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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|
Line of Business
: |
Subject is engaged in Pharmaceuticals Bulk Drugs Like Tablets,
Capsules, Aerosols, etc. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (67) |
|
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 |
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Meditab Specialities Private Limited. It is
a well- established company having fine track record. Financial position of the company seems to be strong. Overall
fundaments of the company seems to be sound and healthy. Directors are reported to be experienced and respectable businessmen. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for normal 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.
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 DENIED
UNABLE TO CONTACT (91-832-2395656 /
2395184 CONTINUOUSLY RINGING)
LOCATIONS
|
Registered Office : |
Plot No. 344/345, Kundaim Industrial Estate, Kundaim - 403115, Goa,
India |
|
Tel. No.: |
91-832-2395656/2395184 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 11.09.2013
|
Name : |
Mr. Rajesh Dinkar Sawant |
|
Designation : |
Whole Time Director |
|
Address : |
14, Okasa Residential Complex, Friends Colony, Kharpabadh,
Ponda-403401, Goa, India |
|
Date of Birth/Age : |
23.12.1967 |
|
Date of Appointment : |
01.12.2005 |
|
Din No.: |
00380168 |
|
|
|
|
Name : |
Mr. Ijaj Abdulgani Khalif |
|
Designation : |
Director |
|
Address : |
F-1, Salfumiua Apartment, Near PWD Fatorda, Margao-403602, Goa, India |
|
Date of Birth/Age : |
31.05.1968 |
|
Date of Appointment : |
01.10.2010 |
|
Din No.: |
00347230 |
|
|
|
|
Name : |
Mr. Ramanujam Narayanan Ananthakrishnapuram |
|
Designation : |
Director |
|
Address : |
B-4/10, Manav Kalyan Society, Bangur Nagar, Goregaon (West),
Mumbai-400090, Maharashtra, India |
|
Date of Birth/Age : |
04.06.1966 |
|
Date of Appointment : |
04.11.2011 |
|
Din No.: |
00017935 |
MAJOR SHAREHOLDERS
As on 11.09.2013
|
Names of Shareholders |
No. of Shares |
|
Meditab Specialities Private Limited, India |
51014 |
|
Hamied K Mustafa Jointly With Meditab Specialities Private Limited,
India |
1 |
|
Hamied M Kamil Jointly With Meditab Specialities Private Limited,
India |
1 |
|
S Radhakrishnan Jointly With Meditab Specialities Private Limited,
India |
1 |
|
R. Gopalakrishnan Jointly With Meditab Specialities Private Limited,
India |
1 |
|
Sanghvi Arvind Mital Jointly With Meditab Specialities Private
Limited, India |
1 |
|
Athipotta Parameswaran Raman Jointly With Meditab Specialities Private
Limited, India |
1 |
|
|
|
|
Total |
51020 |
As on 11.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Pharmaceuticals Bulk Drugs Like Tablets,
Capsules, Aerosols, etc. |
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Products : |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
Information declined by the management |
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Bankers : |
Not Divulged |
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Banking
Relations : |
--- |
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|
Auditors : |
|
|
Name : |
V. Sankar Aiyer and Company Chartered Accountants |
|
Address : |
2-C, Court Chambers, 35 New Marine Lines, Mumbai – 400020,
Maharashtra, India |
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PAN No.: |
AAAFV0781D |
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|
|
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Ultimate Holding
Company : |
Cipla Limited |
|
|
|
|
Holding Company : |
Meditab Specialities Private Limited |
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|
|
|
Fellow Subsidiary Company
: |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
|
500000 |
Preferences Shares |
Rs.100/- each |
Rs.50.000 Million |
|
|
|
|
|
|
|
TOTAL
|
|
Rs.51.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
51020 |
Equity Shares |
Rs.10/- each
|
Rs.0.510
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
0.510 |
0.510 |
0.510 |
|
(b) Reserves & Surplus |
822.090 |
603.480 |
411.272 |
|
(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) |
822.600 |
603.990 |
411.782 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.476 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
4.875 |
4.722 |
2.923 |
|
Total Non-current
Liabilities (3) |
4.875 |
4.722 |
3.399 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
128.669 |
133.176 |
60.770 |
|
(c) Other
current liabilities |
5.180 |
43.243 |
22.583 |
|
(d) Short-term
provisions |
0.305 |
0.764 |
0.376 |
|
Total Current
Liabilities (4) |
134.154 |
177.183 |
83.729 |
|
|
|
|
|
|
TOTAL |
961.629 |
785.895 |
498.910 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
57.302 |
57.581 |
60.408 |
|
(ii) Intangible
Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
6.724 |
6.413 |
5.114 |
|
(iv)
Intangible assets under development |
2.070 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2.751 |
2.896 |
3.048 |
|
(c) Deferred tax assets (net) |
0.669 |
0.522 |
0.000 |
|
(d) Long-term Loan and Advances |
89.224 |
92.834 |
133.002 |
|
(e) Other
Non-current assets |
12.723 |
2.386 |
7.604 |
|
Total Non-Current
Assets |
171.463 |
162.632 |
209.176 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
520.954 |
269.423 |
26.094 |
|
(b)
Inventories |
81.085 |
114.543 |
61.067 |
|
(c) Trade
receivables |
95.231 |
142.009 |
179.033 |
|
(d) Cash
and cash equivalents |
8.667 |
17.421 |
14.530 |
|
(e)
Short-term loans and advances |
84.229 |
79.867 |
9.010 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
790.166 |
623.263 |
289.734 |
|
|
|
|
|
|
TOTAL |
961.629 |
785.895 |
498.910 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
721.117 |
757.139 |
497.465 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
409.053 |
465.930 |
333.936 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
312.064 |
291.209 |
163.529 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
93.454 |
99.001 |
52.652 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
218.610 |
192.208 |
110.877 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
499.299 |
307.091 |
196.214 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
717.909 |
499.299 |
307.091 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
483.399 |
525.532 |
160.621 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4285.00 |
3767.31 |
217.21 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
32.87 |
37.52 |
33.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.38 |
0.48 |
0.40 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.89 |
3.52 |
3.46 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
0.510 |
0.510 |
0.510 |
|
Reserves & Surplus |
411.272 |
603.480 |
822.090 |
|
Net worth |
411.782 |
603.990 |
822.600 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
497.465 |
757.139 |
721.117 |
|
|
|
52.199 |
(4.758) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
497.465 |
757.139 |
721.117 |
|
Profit |
110.877 |
192.208 |
218.610 |
|
|
22.29% |
25.39% |
30.32% |
LOCAL AGENCY FURTHER INFORMATION
NOTE: CURRENT
MATURITIES OF LONG TERM DEBTS IS NOT AVAILABLE
|
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 |
---------------------- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
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 |
No |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Land
- Buildings
- Plant and
equipment
- Furniture and
Fixtures
- Office
equipment
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.62.39 |
|
|
1 |
Rs.91.06 |
|
Euro |
1 |
Rs.66.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
8 |
|
--PROFITABILITY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
NO |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
67 |
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.