MIRA
INFORM REPORT
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Report No. : |
335162 |
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Report Date : |
06.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
SANOFI INDIA LIMITED (w. e. f.
11.05.2012) |
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Formerly Known
As : |
AVENTIS PHARMA LIMITED (w. e. f. 11.07.2001) HOECHST – FEDCO PHARMA PRIVATE LIMITED |
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Registered
Office : |
Sanofi House, 117-B, L and T |
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Tel. No.: |
91-22-28032000 |
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Country : |
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Financials (as
on) : |
31.12.2014 |
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Date of
Incorporation : |
02.05.1956 |
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Com. Reg. No.: |
11-009794 |
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Capital
Investment / Paid-up Capital : |
Rs. 230.300 Million |
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CIN No.: [Company Identification
No.] |
L24239MH1956PLC009794 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACH2736F |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturing and Marketing of Drugs and Pharmaceuticals. |
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No. of Employees
: |
Information declined by the management
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RATING & COMMENTS
|
MIRA’s Rating : |
Aa (81) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is subsidiary of “Hoechst GmbH” Germany. Sanofi India Limited
is engaged in the research, development, manufacturing and marketing of
healthcare products. The company was founded in 1956, it is a
well-established company having an excellent track record. The rating on Sanofi India limited take into account the consistent
track record of achieving better than industry volume growth, strong
operating efficiencies, healthy financials performance marked by zero debt
balance sheet and improving pricing and demand environment. The rating continues to derive strength from long established track
record of the company and strong financial and managerial support receives
from its holding company. The Sanofi is the world’s six largest pharmaceutical company with
Brand Value of $3062m and Enterprise value at $ 144487m. Trade relations are reported as trustworthy. Payments 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.
EXTERNAL AGENCY RATING
Not Available
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION DENIED
MANAGEMENT NON CO-OPERATIVE (91-22-28032000)
LOCATIONS
|
Registered Office : |
Sanofi House, 117-B, L and T Business Park, Gat No 6, Saki Vihar Road,
Powai, Mumbai-400072, Maharashtra, India |
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Tel. No.: |
91-22-28032000 |
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Fax No.: |
91-28032939 |
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E-Mail : |
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Website : |
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Factory 1: |
3501-15, 6310, B-14, GIDC Estate, Ankleshwar-393002, Gujarat, India |
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Factory 2: |
GIDC Plot No: L-121, Phase III, Verna Industrial Estate, Verna,
Goa-403722, India |
DIRECTORS
AS ON: 20.02.2015
|
Name : |
Dr. Vijay Mallya |
|
Designation : |
Chairman |
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DIN No: |
00122890 |
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Name : |
Dr. Shailesh Ayyangar |
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Designation : |
Managing Director |
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Address : |
Mumbai, Maharashtra, India |
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Date of Birth/Age : |
61 Years |
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Qualification : |
Doctor of Veterinary Medicine and MBA from the Indian Institute of Management, Ahmedabad, Gujarat, India |
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PAN No: |
AEIPA8567L |
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DIN No: |
00268076 |
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Other
Directorship: (as
on 20th February 2015) · Sanofi-Synthelabo (India) Limited - Managing Director · Merial India Private Limited - Director · Apollo Sugar Clinics Limited - Director · Sanofi Lanka Limited - Director · Organisation of Pharmaceutical Producers of India - President |
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Name : |
Mr. F. Briens |
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Designation : |
Director |
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Address : |
Mumbai, Maharashtra, India |
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Date of Birth/Age : |
55 years |
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Qualification : |
· Master in Economic Sciences, Graduate of Institute Superieur de Gestion (Paris) · Master in Business Administration (University of San Francisco) |
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DIN No: |
3472959 |
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Other
Directorship: · Sanofi-Synthelabo (India) Limited - Director · Sanofi Lanka Limited - Director · Sanofi - Aventis Gulf FZE - Director · Sanofi - Aventis Pakistan Limited - Director · Zao Aventis Pharma - Director · Winthrop Ilac AS - Director |
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Name : |
Ms. Virginie Boucinha |
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Designation : |
Director |
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PAN No: |
AQJPV1205H |
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DIN No: |
05302127 |
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Name : |
J. M. Georges |
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Designation : |
Director |
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DIN No: |
00883730 |
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Name : |
Mr. S. R. Gupte |
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Designation : |
Director |
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DIN No: |
00109548 |
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Name : |
Mr. Rangaswamy Iyer |
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Designation : |
Director |
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DIN No: |
00474407 |
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Name : |
A. K. R. Nedungadi |
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Designation : |
Director |
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DIN No: |
00103214 |
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Name : |
Mr. M. G. Rao |
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Designation : |
Director |
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PAN No: |
AABPR8532M |
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DIN No: |
00267548 |
KEY EXECUTIVES
|
Name : |
Mr. K Subramanian |
|
Designation : |
Company Secretary |
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PAN No: |
AAKPK4677M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 30.06.2015
|
Category of
Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of Shares |
|
|
|
As a % of (A+B) |
|
(A) Shareholding of
Promoter and Promoter Group |
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|
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|
|
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|
13909587 |
60.40 |
|
|
13909587 |
60.40 |
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Total shareholding
of Promoter and Promoter Group (A) |
13909587 |
60.40 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
3173860 |
13.78 |
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|
51025 |
0.22 |
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|
524501 |
2.28 |
|
|
3045635 |
13.22 |
|
|
6795021 |
29.50 |
|
|
|
|
|
|
915457 |
3.97 |
|
|
|
|
|
|
1150164 |
4.99 |
|
|
40204 |
0.17 |
|
|
220189 |
0.96 |
|
|
471 |
0.00 |
|
|
210905 |
0.92 |
|
|
4850 |
0.02 |
|
|
3383 |
0.01 |
|
|
500 |
0.00 |
|
|
80 |
0.00 |
|
|
2326014 |
10.10 |
|
Total Public
shareholding (B) |
9121035 |
39.60 |
|
Total (A)+(B) |
23030622 |
100.00 |
(1) Indian
Bodies Corporate
Bodies Corporate
Individual shareholders holding nominal
share capital up to Rs. 0.100 MillionShareholding of
securities (including shares, warrants, convertible securities) of persons belonging
to the category Promoter and Promoter Group:
|
Sl. No. |
Name of the
Shareholder |
Details of Shares held |
|
|
No. of Shares held |
As a % of grand total (A)+(B) |
||
|
1 |
Hoechst Gmbh |
1,39,04,722 |
60.37 |
|
2 |
Sanofi |
4,865 |
0.02 |
|
|
Total |
1,39,09,587 |
60.40 |
(*) The term encumbrance has the same meaning as
assigned to it in regulation 28(3) of the SAST Regulations, 2011.
Shareholding of
securities (including shares, warrants, convertible securities) of persons belonging
to the category Public and holding more than 1% of the total number of shares:
|
Sl. No. |
Name of the
Shareholder |
No. of Shares held |
Shares as % of Total No. of Shares |
|
|
1 |
Reliance Capital Trustee Company Limited A/C Reliance Equity Opportunities Fund |
1148645 |
4.99 |
|
|
2 |
Aberdeen Global Indian Equity (Mauritius) Limited |
1038883 |
4.51 |
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3 |
Aberdeen Global-Asian Smaller Companies Fund |
852163 |
3.70 |
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4 |
Uti-Mastershare Unit Scheme |
541759 |
2.35 |
|
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5 |
Life Insurance Corporation Of India |
418989 |
1.82 |
|
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6 |
ICICI Prudential Balanced Advantage Fund |
319341 |
1.39 |
|
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7 |
HDFC Standard Life Insurance Company Limited |
337269 |
1.46 |
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8 |
The India Fund Inc. |
320000 |
1.39 |
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9 |
Birla Sun Life Trustee Company Private Limited A/C Birla Sun Life Frontline Equity Fund |
324183 |
1.41 |
|
|
10 |
Franklin Templeton Mutual Fund A/c Franklin India High Growth Companies Fund |
375000 |
1.63 |
|
|
|
Total |
5676232 |
24.65 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Marketing of Drugs and Pharmaceuticals. |
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|
|
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Products : |
Product/Service |
ITC Code |
|
Glimepiride |
2935 |
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Ramipril Tab |
3004 |
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Insulin Glargine |
3004 |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
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PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management
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Bankers : |
·
Citi Bank N. A ·
Deutsche Bank ·
Hongkong and Shanghai Banking Corporation Limited ·
State Bank of India ·
HDFC Bank Limited ·
BNP Paribas ·
ING Vyasa Bank limited |
|
Auditors : |
|
|
Name : |
SRBC and Company LLP Chartered Accountants |
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Address : |
14th Floor, The Ruby, 29 Senapati Bapat Marg, Dadar (West),
Mumbai-4000028, Maharashtra, India |
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Tel. No.: |
91-22-61920000 |
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Fax No.: |
91-22-61921000 |
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PAN No: |
ACHFS9180N |
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Audit Committee: |
Sanofi-Synthelabo (India) Limited |
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Solicitors: |
Crawford Bayley and Company |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Fellow Subsidiary Company: |
· Francopia S.A.R.L., FRANCE · Sanofi-Synthelabo (India) Limited · Shantha Biotechnics Private Limited, India · Sanofi –Aventis Singapore Pte. Limited, Singapore · Sanofi Aventis Deutschland GmbH, Germany · Sanofi Chimie S.A. France · Sanofi Pasteur India Private Limited, India · Zentiva K.S, Czech Republic · Zentiva S.A., Romania |
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Holding company: |
Hoechst GmbH, GERMANY |
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Ultimate Holding Company: |
Sanofi S.A., France |
CAPITAL STRUCTURE
AS ON: 29.04.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
23500000 |
Equity Shares |
Rs.10/- each |
Rs. 235.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
23030622 |
Equity Shares |
Rs.10/- each |
Rs. 230.306
Million |
|
|
|
|
|
Reconciliation of the Shares outstanding at
the beginning and at the end of the reporting period:
|
Particulars |
Shares |
Amount |
|
At the beginning of the year and outstanding
at the end of the year |
23030622 |
230.30 |
Terms/rights
attached to equity shares”:
The Company has only one class of equity shares having a face value of Rs 10 per share. Each holder of equity shares is entitled to one vote per share. The final dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.
During the year ended 31 December 2014, the amount of per share dividend (including interim dividend of Rs. 10 (December 2013: Rs. 10)) recognized as distributions to equity shareholders was Rs. 45 (December 2013: Rs. 45).
In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company. The distribution will be in proportion to the number of equity shares held by the shareholder.
Details of Shareholders holding more than 5% shares in the company:
|
Particulars |
Shares |
%age of holding |
|
Hoechst GmbH Germany |
13904722 |
60.37 |
|
Reliance Capital Trustee Company Limited |
1287005 |
5.59 |
|
Aberdeen Global Indian Equity Fund
(Mauritius) Limited |
1238883 |
5.38 |
As per the of the company, including its register of
shareholder/members and other declarations received from shareholders regarding
beneficial interest, the above shareholding represents both legal and
beneficial ownerships of shares.
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
230.300 |
230.300 |
230.300 |
|
(b) Reserves &
Surplus |
14628.100 |
13236.700 |
11810.900 |
|
(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) |
14858.400 |
13467.000 |
12041.200 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
538.800 |
366.900 |
212.800 |
|
(c) Other long term
liabilities |
0.000 |
7.400 |
0.000 |
|
(d) long-term provisions |
320.700 |
252.800 |
192.800 |
|
Total Non-current
Liabilities (3) |
859.500 |
627.100 |
405.600 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
3268.600 |
1871.000 |
1541.700 |
|
(c) Other current
liabilities |
1100.400 |
899.300 |
849.900 |
|
(d) Short-term provisions |
2189.200 |
1919.000 |
1474.700 |
|
Total Current Liabilities
(4) |
6558.200 |
4689.300 |
3866.300 |
|
|
|
|
|
|
TOTAL |
22276.100 |
18783.400 |
16313.100 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2662.100 |
2540.000 |
1942.500 |
|
(ii) Intangible Assets |
3821.500 |
4445.500 |
5051.100 |
|
(iii) Capital
work-in-progress |
2078.100 |
1345.600 |
406.300 |
|
(iv) Intangible assets
under development |
20.700 |
16.400 |
28.400 |
|
(b) Non-current
Investments |
2.400 |
2.400 |
3.600 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1048.100 |
951.400 |
581.800 |
|
(e) Other Non-current
assets |
15.000 |
10.700 |
12.900 |
|
Total Non-Current Assets |
9647.900 |
9312.000 |
8026.600 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
4780.900 |
3400.000 |
2724.500 |
|
(c) Trade receivables |
1152.200 |
1183.100 |
989.000 |
|
(d) Cash and cash
equivalents |
4688.400 |
2644.000 |
4302.000 |
|
(e) Short-term loans and
advances |
1961.400 |
2191.200 |
230.000 |
|
(f) Other current assets |
45.300 |
53.100 |
41.000 |
|
Total Current Assets |
12628.200 |
9471.400 |
8286.500 |
|
|
|
|
|
|
TOTAL |
22276.100 |
18783.400 |
16313.100 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
|
SALES |
|
|
|
|
|
Revenue from Operations |
19774.800 |
18088.600 |
15730.400 |
|
|
Other Income |
643.000 |
578.600 |
411.700 |
|
|
TOTAL (A) |
20417.800 |
18667.200 |
16142.100 |
|
|
|
|
|
|
|
Less: |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
6371.700 |
6383.100 |
5591.100 |
|
|
Purchases of
Stock-in-Trade |
4878.700 |
1905.900 |
1853.100 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(1510.000) |
(94.700) |
(89.300) |
|
|
Employees benefits
expense |
2882.400 |
2421.300 |
2096.900 |
|
|
Other expenses |
3763.200 |
3494.000 |
3160.500 |
|
|
Extraordinary Items |
(665.600) |
-253.800 |
0.000 |
|
|
TOTAL (B) |
15720.400 |
13855.800 |
12612.300 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (A-B) (C) |
4697.400 |
4811.400 |
3529.800 |
|
|
|
|
|
|
|
Less: |
FINANCIAL EXPENSES (D) |
4.800 |
4.200 |
14.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION (C-D) (E) |
4692.600 |
4807.200 |
3515.800 |
|
|
|
|
|
|
|
Less: |
DEPRECIATION/
AMORTISATION (F) |
966.400 |
922.600 |
898.700 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX
(E-F) (G) |
3726.200 |
3884.600 |
2617.100 |
|
|
|
|
|
|
|
Less: |
TAX (H) |
1090.100 |
1232.800 |
850.500 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX (G-H) (I) |
2636.100 |
2651.800 |
1766.600 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
5495.200 |
4864.800 |
3203.300 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
|
|
|
|
|
Basic |
85.56 |
104 |
76.71 |
|
|
Diluted |
114.46 |
115.00 |
77.00 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
3877.900 |
3898.400 |
3415.200 |
|
Net Cash Flow from (used in) Operations |
4383.800 |
4227.300 |
3665.600 |
KEY
RATIOS
|
PARTICULARS |
|
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
13.33 |
14.66 |
11.23 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
23.75 |
26.60 |
22.44 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.47 |
22.30 |
16.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25 |
0.29 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.93 |
2.02 |
2.14 |
STOCK
PRICES
|
Face Value |
Rs. 10.00/- |
|
Market Value |
Rs. 4170.20/- |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
230.300 |
230.300 |
230.300 |
|
Reserves & Surplus |
11810.900 |
13236.700 |
14628.100 |
|
Net worth |
12041.200 |
13467.000 |
14858.400 |
|
|
|
|
|
|
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 |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Revenue from Operations |
15730.400 |
18088.600 |
19774.800 |
|
|
|
14.991 |
9.322 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Revenue from Operations |
15730.400 |
18088.600 |
19774.800 |
|
Profit |
1766.600 |
2651.800 |
2636.100 |
|
|
11.23% |
14.66% |
13.33% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been shifted from Aventis House, 54/A, Sir Mathuradas Vasanji Road, Andheri East, Mumbai-400093, Maharashtra, India to the present address w. e. f. 30.03.2015
LITIGATION
DETAILS:
|
CASE DETAILS |
|||||
|
Bench:- Bombay |
|||||
|
Presentation
Date:- 18/12/2014 |
|||||
|
Lodging No. : |
ITXAL/2068/2014 |
Filing Date:- |
18/12/2014 |
Reg. No.:- |
ITXA/189/2015 |
|
Reg. Date:- |
30/01/2015 |
|
|
|
|
|
|
|||||
|
Petitioner:- |
THE COMMISSIONER OF INCOME TAX –11 |
Respondent:- |
M/S. AVENTIS PHARMA LTD. (PRESENTLY KNOWN
AS SANOFI INDIA LTD) |
||
|
Petn.Adv:- |
ARVIND PINTO (1583) |
|
|
||
|
District:- |
MUMBAI |
||||
|
|
|||||
|
Bench:- |
DIVISION |
Category:- |
TAX APPEALS |
||
|
Status:- |
Pre-Admission |
Stage:- |
-- |
||
|
Next Date:- |
20/08/2015 |
|
|
||
|
Coram:- |
ACCORDING TO SITTING LIST ACCORDING TO SITTING LIST |
|
|
||
|
Act. : |
Income Tax Act, 1961 |
|
|
||
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 31st MARCH 2015
(Rs. In Millions)
|
Particulars
|
|
|
Quarter Ended ( Unaudited) |
|
|
|
|
31.03.2015 |
|
|
|
|
|
|
1.
Income from operations |
|
|
|
|
a) Net sales/ Income from operation (net of excise duty) |
|
|
4598.000 |
|
b) Other operating income |
|
|
291.000 |
|
Total
income from Operations(net) |
|
|
4889.000 |
|
2.Expenditure |
|
|
|
|
a) Cost of material consumed |
|
|
1416.000 |
|
b) Purchases of stock in trade |
|
|
1252.000 |
|
c) Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
|
|
(269.000) |
|
d) Employees benefit expenses |
|
|
787.000 |
|
e) Depreciation and amortization expenses |
|
|
259.000 |
|
f) Other expenditure |
|
|
874.000 |
|
Total expenses |
|
|
4319.000 |
|
3.
Profit from operations before other income and financial costs |
|
|
570.000 |
|
4. Other income |
|
|
194.000 |
|
5.
Profit from operations before finance costs and exceptional items |
|
|
764.000 |
|
6. Finance costs |
|
|
1.000 |
|
7. Profit before tax
and exceptional items |
|
|
763.000 |
|
8.Tax expenses |
|
|
279.000 |
|
9. Net Profit for the period
before Exceptional Items |
|
|
484.000 |
|
10.Exceptional Items |
|
|
161.000 |
|
11.Net Profit for the period after Exceptional Items |
|
|
645.000 |
|
12.Paid-up equity share capital (Nominal value
Rs.10/- per share) |
|
|
230.00 |
|
13. Reserve excluding Revaluation Reserves as per balance sheet of
previous accounting year |
|
|
0.000 |
|
14.Earnings per share
(before exceptional items) of Rs.1 0/- each): |
|
|
21.04 |
|
15.Earnings per share (after
exceptional items) of Rs.10/- each): |
|
|
28.04 |
|
Particulars
|
|
|
Quarter Ended ( Unaudited) |
|
|
|
|
31.03.2015 |
|
A.
Particulars of shareholding |
|
|
|
|
1.
Public Shareholding |
|
|
|
|
- Number of shares |
|
|
9121035 |
|
- Percentage of shareholding |
|
|
39.60 |
|
2.
Promoters and Promoters group Shareholding- |
|
|
|
|
a) Pledged /Encumbered |
|
|
|
|
Number of shares |
|
|
0.000 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
|
|
0.000 |
|
Percentage of shares (as a % of total share capital of the
company) |
|
|
0.000 |
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
Number of shares |
|
|
13909587 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
|
|
100.00 |
|
|
|
|
|
|
Percentage of shares (as a % of total share capital of the
company) |
|
|
60.40 |
|
|
|
|
|
|
B.
Investor Complaints |
|
|
|
|
Pending at the beginning of the quarter |
|
|
0.000 |
|
Receiving during the quarter |
|
|
11.000 |
|
Disposed of during the quarter |
|
|
11.000 |
|
Remaining unreserved at the end of the quarter |
|
|
0.000 |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90229711 |
20/09/2001 |
197,500,000.00 |
HDFC LIMITED |
RAMON HOUSE; H.T.
PAREKH MARG, 169; BACKBAY RECLA |
- |
|
2 |
90228690 |
30/11/1992 * |
50,000,000.00 |
ICICI LIMITED |
163; BACKBAY
RECLAMATION, BOMBAY, MAHARASHTRA - 40 |
- |
|
3 |
90228611 |
31/12/1992 |
400,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRNACH,
JUSTICE G.N.VAIDYA MARG, BOMBA |
- |
|
4 |
90228604 |
21/10/1993 * |
400,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRNACH,
JUSTICE G.N.VAIDYA MARG, BOMBA |
- |
|
5 |
90228576 |
11/09/1992 |
32,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRNACH, JUSTICE
G.N.VAIDYA MARG, BOMBA |
- |
|
6 |
90228519 |
23/03/1992 |
43,000,000.00 |
GRINDLAYS BANK |
90; M.G ROAD, BOMBAY, MAHARASHTRA - 400023, INDIA |
- |
|
7 |
90228502 |
14/02/1992 |
43,000,000.00 |
GRINDLAYS BANK |
90; M.G ROAD, BOMBAY, MAHARASHTRA - 400001, INDIA |
- |
|
8 |
90228499 |
05/02/1992 |
20,000,000.00 |
HDFC LIMITED |
RAMON HOUSE, 169; BACKBAY RECLAMATION, BOMBAY, MAHARASHTRA - 400020, INDIA |
- |
|
9 |
90228492 |
22/01/1992 |
6,500,000.00 |
ICICI LIMITED |
163; BACKBAY RECLAMATION, BOMBAY, MAHARASHTRA - 400020, INDIA |
- |
|
10 |
90228477 |
05/12/1991 |
17,500,000.00 |
AMERICAN EXPRESS BANK LIMITED |
OEIENTAL BUILDING,
D.N. ROAD, BOMBAY, MAHARASHTRA |
- |
FIXED ASSETS:
· Land
· Residential building
· Factory equipment
· Furniture and fixtures
· Vehicles
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 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. 63.82 |
|
UK Pound |
1 |
Rs. 99.15 |
|
Euro |
1 |
Rs. 69.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
THR |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILITY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
9 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
81 |
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.