MIRA INFORM REPORT
|
Report No. : |
336525 |
|
Report Date : |
13.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
BAL PHARMA LIMITED |
|
|
|
|
Registered
Office : |
21 and 22, Bommasandra, Industrial Area, Bangalore-562158, Karnataka |
|
Tel. No.: |
91-80-22354057 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
19.05.1987 |
|
|
|
|
Com. Reg. No.: |
08-008368 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 128.724 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L85110KA1987PLC008368 |
|
|
|
|
IEC No.: |
0791011739 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRB00607F |
|
|
|
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PAN No.: [Permanent Account No.] |
AABCB0512E |
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|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturing and Marketing of
Pharmaceutical Formulations and Active Pharmaceutical Ingredients. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1588000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
|
Litigation : |
Exist |
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|
|
|
Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be sound and
healthy. Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Loans = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
April 2014 |
|
|
|
|
Rating Agency Name |
ICRA |
|
Rating |
Non fund based facilities = A3 |
|
Rating Explanation |
Moderate degree of safety and high credit
risk |
|
Date |
April 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
31-03-2013.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE
(Contact No: 91-80-41379500)
LOCATIONS
|
Registered Office/ Factory 1 (Formulations) : |
21 and 22, Bommasandra, Industrial Area, Bangalore-562158, Karnataka,
India |
|
Tel. No.: |
91-80-22354057/ 22354058 |
|
Fax No.: |
91-80-22354057/ 22354058 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
5th Floor, Lakshmi Narayan Complex, 10/1, Palace Road, Bangalore –
560052, Karnataka, India |
|
Tel. No.: |
91-80-41379500 |
|
Fax No.: |
91-80-22354057 |
|
|
|
|
Factory 2 (R AND D Centre and Bulk Drugs) : |
No. 61/B, Bommasandra Industrial Area, Hosur Road, Bangalore – 560099,
Karnataka, India |
|
|
|
|
Factory 3 (Parenterals) : |
No. 732/735, Off. National Highway, No.4, Village Kenjal, District
Bhor – 412217, Maharashtra, India |
|
|
|
|
Factory 4 (Formulations plant at Uttarakhand) : |
Plot No. 1, 2, 3 and 69, Sector 4, IIE-Pantnagar, Rudrapur – 263153,
Udham Singh Nagar, Uttarakhand, India |
|
|
|
|
Factory 5 (Intermediaries) : |
Alp-Thabdewadi, Taluka - Kavathe Mahankal, Sangli – 416405,
Maharashtra, India |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. Shailesh D. Siroya |
|
Designation : |
Managing Director |
|
Date of Birth/Age : |
48 Years |
|
Qualification : |
MBA
(Finance) |
|
Experience : |
22 Years |
|
Date of Appointment : |
01.08.1994 |
|
|
|
|
Name : |
Dr. S. Prasanna |
|
Designation : |
Whole Time Director |
|
|
|
|
Name : |
Mr. Shrenik Siroya |
|
Designation : |
Non-Executive Director |
|
Date of Birth/Age : |
10.09.1964 |
|
Qualification : |
B.E |
|
Experience/ Expertise : |
Mr. Shernik Siroya is having vast
experience in managing various business including Pharma and Construction. |
|
Date of Appointment : |
30.09.1997 |
|
Other Directorship : |
·
Siroya Exports (Private)
Limited-Director ·
Siroya Developers
(Private) Limited-Director ·
Mokalsor Stone
Private Limited -Director ·
Siroya FM
Constructions Private Limited-Director. ·
Siroya Nabar
Hosing Private Limited -Director ·
Mannath
Developers (Private) Limited-Director ·
Mannath
Properties (Private) Limited -Director. |
|
|
|
|
Name : |
Dr. G.S.R. Subba Rao |
|
Designation : |
Independent Director |
|
Date of Birth/Age : |
2I.08.I937 |
|
Qualification : |
Phd, FA. Sc |
|
Experience/ Expertise : |
Formerly professor and Dean in Indian
Institute of Science (IISC), Bangalore. He is also a consultant to many
Indian and Foreign Pharmaceutical Companies on synthesis
of drugs, intermediates, natural products and
Steroid hormones. |
|
Date of Appointment : |
09.12.1999 |
|
|
|
|
Name : |
Mr. Pramod Kumar S. |
|
Designation : |
Independent Director |
|
Date of Birth/Age : |
15.07.1968 |
|
Qualification : |
B. Com |
|
Experience/ Expertise : |
Mr.Pramod Kumar. S have over
15 years of experience in managing Agro and Pharma industries. |
|
Date of Appointment : |
10.05.2012 |
|
Other Directorship : |
·
Sunil Agro Foods Limited-Director. · Brindavan Soft land Private Limited -Director |
|
|
|
|
Name : |
Mr. Ajit Kumar |
|
Designation : |
Nominee Director |
KEY EXECUTIVES
|
Name : |
Mr. V. Murali |
|
Designation : |
AVP Finance and Accounts and Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2015
|
Category of
Shareholders |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter
Group |
|
|
|
|
|
|
|
|
4319779 |
33.56 |
|
|
1310836 |
10.18 |
|
|
5630615 |
43.74 |
|
|
|
|
|
|
655187 |
5.09 |
|
|
655187 |
5.09 |
|
Total shareholding of Promoter and Promoter
Group (A) |
6285802 |
48.83 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
200 |
0.00 |
|
|
1800 |
0.01 |
|
|
2000 |
0.02 |
|
|
|
|
|
|
560893 |
4.36 |
|
|
|
|
|
|
3033019 |
23.56 |
|
|
2990658 |
23.23 |
|
|
6584570 |
51.15 |
|
Total Public shareholding (B) |
6586570 |
51.17 |
|
Total (A)+(B) |
12872372 |
100.00 |
|
(C) Shares held by Custodians and against
which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
12872372 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Marketing of Pharmaceutical
Formulations and Active Pharmaceutical Ingredients. |
|
|
|
|
Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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|
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Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
· Canara Bank · EXIM Bank · Punjab National Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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|
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Statutory Auditors : |
|
|
Name : |
TD Jain and Dl Sakria Chartered Accountants |
|
Address : |
No. 34, Keshava Nilvas, 3rd Floor, First Main, Gandhinagar,
Bangalore-560009, Karnataka, India |
|
Tel. No.: |
91-80-22356135/ 22356137 |
|
Fax No.: |
91-80-22356136 |
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E-Mail : |
|
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|
|
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Internal Auditors : |
|
|
Name : |
Manjunath S. and Company Chartered Accountants |
|
Address : |
Bangalore, Karnataka, India |
|
|
|
|
Cost Auditor : |
|
|
Name : |
Mr. M.R. Krishnamurthy Cost Accountant |
|
Address: |
Bangalore, Karnataka, India |
|
|
|
|
Memberships : |
-- |
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|
|
|
Collaborators : |
-- |
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|
|
|
Enterprises where principal/ promoter
shareholders have control or significant Influence (Significant interest
entities) : |
Micro
Labs Limited |
|
|
|
|
Related Parties : |
·
Desa Marketing International ·
Siroya Developers (Private) Limited ·
Siroya Constructions · Siroya Wellness |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs. 128.724 Million
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs. 10/- each |
Rs.150.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11111388 |
Equity Shares |
Rs. 10/- each |
Rs.111.114
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
128.724 |
111.114 |
105.736 |
|
(b) Reserves & Surplus |
407.099 |
372.018 |
328.379 |
|
(c) Money received against share warrants |
20.150 |
17.364 |
12.068 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
555.973 |
500.496 |
446.183 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
66.443 |
79.701 |
16.710 |
|
(b) Deferred tax liabilities (Net) |
72.858 |
82.372 |
82.371 |
|
(c)
Other long term liabilities |
7.459 |
6.559 |
18.100 |
|
(d)
long-term provisions |
16.519 |
10.598 |
8.350 |
|
Total
Non-current Liabilities (3) |
163.279 |
179.230 |
125.531 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
401.379 |
427.499 |
443.597 |
|
(b)
Trade payables |
384.865 |
335.309 |
320.565 |
|
(c)
Other current liabilities |
117.711 |
86.593 |
149.693 |
|
(d)
Short-term provisions |
18.282 |
18.314 |
12.807 |
|
Total
Current Liabilities (4) |
922.237 |
867.715 |
926.662 |
|
|
|
|
|
|
TOTAL |
1641.489 |
1547.441 |
1498.376 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
526.729 |
503.131 |
467.410 |
|
(ii)
Intangible Assets |
0.000 |
48.657 |
50.871 |
|
(iii)
Capital work-in-progress |
0.000 |
2.459 |
8.750 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
10.950 |
0.150 |
0.150 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
54.041 |
39.643 |
38.346 |
|
(e)
Other Non-current assets |
3.295 |
2.236 |
2.660 |
|
Total
Non-Current Assets |
595.015 |
596.276 |
568.187 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
357.717 |
317.142 |
336.870 |
|
(c)
Trade receivables |
449.876 |
454.882 |
434.390 |
|
(d)
Cash and cash equivalents |
45.380 |
30.242 |
45.335 |
|
(e)
Short-term loans and advances |
191.507 |
147.619 |
111.071 |
|
(f)
Other current assets |
1.994 |
1.280 |
2.523 |
|
Total
Current Assets |
1046.474 |
951.165 |
930.189 |
|
|
|
|
|
|
TOTAL |
1641.489 |
1547.441 |
1498.376 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1871.300 |
1788.721 |
1479.145 |
|
|
|
Other Income |
11.948 |
6.463 |
6.593 |
|
|
|
TOTAL (A) |
1883.248 |
1795.184 |
1485.738 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
961.171 |
891.184 |
713.407 |
|
|
|
Purchases of Stock-in-Trade |
62.289 |
51.541 |
44.016 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(31.468) |
9.594 |
24.471 |
|
|
|
Employees benefits expense |
319.624 |
281.236 |
236.493 |
|
|
|
Other expenses |
384.423 |
376.398 |
288.570 |
|
|
|
TOTAL (B) |
1696.039 |
1609.953 |
1306.957 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
187.209 |
185.231 |
178.781 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
65.162 |
71.574 |
79.768 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
122.047 |
113.657 |
99.013 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
70.035 |
47.397 |
48.122 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
52.012 |
66.260 |
50.891 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
11.784 |
15.537 |
8.056 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
40.228 |
50.723 |
42.835 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB
value of exports |
NA |
1030.466 |
822.880 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
379.152 |
301.342 |
|
|
|
Capital Goods |
|
6.610 |
3.191 |
|
|
TOTAL IMPORTS |
NA |
385.762 |
304.533 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.14 |
4.77 |
4.05 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term borrowings |
NA |
15.246 |
73.111 |
|
|
|
|
|
|
Cash generated from/(used in) operations |
NA |
144.688 |
176.273 |
|
|
|
|
|
|
Net cash flow from/(used in) operating activities |
NA |
133.133 |
161.441 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.15 |
2.84 |
2.90 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
10.00 |
10.36 |
12.09 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.19 |
4.29 |
3.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.13 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.84 |
1.04 |
1.20 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13 |
1.10 |
1.00 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities of
Long-term debts
STOCK
PRICES
|
Face Value |
Rs. 10.00/- |
|
|
|
|
Market Value |
Rs. 81.45/- |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
105.736 |
111.114 |
128.724 |
|
Reserves & Surplus |
328.379 |
372.018 |
407.099 |
|
Money received against share
warrants |
12.068 |
17.364 |
20.150 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
446.183 |
500.496 |
555.973 |
|
|
|
|
|
|
Long-term borrowings |
16.710 |
79.701 |
66.443 |
|
Short term borrowings |
443.597 |
427.499 |
401.379 |
|
Total
borrowings |
533.418 |
522.446 |
467.822 |
|
Debt/Equity
ratio |
1.196 |
1.044 |
0.841 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1479.145 |
1788.721 |
1871.300 |
|
|
|
20.929 |
4.617 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1479.145 |
1788.721 |
1871.300 |
|
Profit |
42.835 |
50.723 |
40.228 |
|
|
2.90% |
2.84% |
2.15% |
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 |
Yes |
|
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 |
Yes |
|
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 |
Yes |
|
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 |
LITIGATION DETAILS
HIGH COURT OF KARNATAKA - PRINCIPAL BENCH AT
BANGALORE ITA 238/2013
|
Petitioner/Appnt.
|
THE COMMISSIONER OF INCOME TAX |
Respondent/Defnt.
Name |
M/S BAL PHARMA LIMITED |
|
Petnr./Appnt.
Advocate |
K V ARAVIND |
Respnt./Defnt
Advocate |
|
|
Date Filed |
27/05/2013 |
District |
Bangalore City |
|
|
|||
|
Stage |
HEARING |
Last Posted for |
ADMISSION |
|
Last Action
Taken |
ADMIT/RULE |
Last Date of
Action |
16/07/2013 |
|
|
|||
|
Latest Order: |
TO EXAMINE SUBSTANTIAL QUESTIONS OF LAWLIST A/W
ITA 239/2013 |
||
|
Before Hon'ble
Judge/s |
D.V.SHYLENDRA KUMAR B.S.INDRAKALA |
||
Lower
Court Details [Appeal from below case.]
|
Case No |
Court name |
Disposal Date |
|
ITA 1263/2011 |
INCOME TAX APPELLATE TRIBUNAL |
04/01/2013 |
Details of the Daily Order
|
Sl.No. |
Honble Judge |
Date of Order |
|
1 |
HONBLE DVSKJ
& BSIJ |
16/07/2013 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10562042 |
22/04/2015 * |
234,500,000.00 |
CORPORATION BANK |
NO.71/1, BRIGADE
PLAZA, SUBEDAR CHATRAM ROAD, BENG |
C52692217 |
|
2 |
10416826 |
18/07/2013 * |
60,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
CENTRE ONE
BUILDING, FLOOR 21, WORLD TRADE CENTER |
B80384944 |
|
3 |
10370582 |
21/07/2012 |
6,570,000.00 |
CANARA BANK |
OVERSEAS BRANCH ,M.G. ROAD, BANGALORE- 560001, KARNATAKA, INDIA |
B45684024 |
|
4 |
10269289 |
31/01/2011 |
30,000,000.00 |
CANARA BANK |
OVERSEAS BRANCH,
RAMANASHREE ARCADE, NO.18, M G R |
B07366156 |
|
5 |
10002968 |
26/03/2010 * |
216,500,000.00 |
EXPORT IMPORT BANK OF INDIA |
FLOOR NO.21, CENTRE
ONE BUILDING, WORLD TRADE CEN |
A84530880 |
|
6 |
80022084 |
22/04/2015 * |
580,000,000.00 |
CANARA BANK (LEADER) |
OVERSEAS BRNCH,
RAMANASHREE ARCADE, NO.18, M G RO |
C52862356 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Term Loans |
|
|
|
From Banks |
|
|
|
Kotak Mahindra Bank |
7.530 |
1.805 |
|
From Financial institutions |
0.000 |
0.000 |
|
Tata Capital Limited |
0.000 |
1.857 |
|
Magma Fincorp Limited |
4.426 |
3.086 |
|
Bajaj
Finance Limited |
1.949 |
0.000 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Interest free loan and advances from
directors repayable on demand |
0.000 |
2.124 |
|
Total |
13.905 |
8.872 |
CORPORATE
INFORMATION: (AS ON 31.03.2014)
Bal Pharma Limited (the company)
is a Public Limited Company domiciled in India and incorporated under
provisions of the Companies Act, 1956. Its shares are listed on two recognized
stock exchanges in India. The company is engaged in the manufacturing and
selling of pharmaceutical products. The company caters to both domestic and
international markets.
FIXED ASSETS:
Tangible Assets
·
Buildings
·
Plant and Machinery
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Utilities
·
Leasehold
LAND
·
Freehold
Land
Intangible assets
·
Software
·
R and D Expenses
·
Market Development Expenditure
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. 64.83 |
|
|
1 |
Rs. 101.00 |
|
Euro |
1 |
Rs. 71.82 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRI |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
IND |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
|
50 |
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.