MIRA
INFORM REPORT
|
Report No. : |
307197 |
|
Report Date : |
16.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
SUN PHARMA LABORATORIES LIMITED (w.e.f. 01.10.2012) |
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Formerly Known
As : |
SUN RESINS AND POLYMERS LIMITED (w.e.f. 30.08.2012) SUN RESINS AND POLYMERS PRIVATE LIMITED |
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Registered
Office : |
201, B/1, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
17.01.1997 |
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Com. Reg. No.: |
11-240268 |
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Capital
Investment / Paid-up Capital : |
Rs. 400.500 Millions |
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CIN No.: [Company Identification
No.] |
U25200MH1997PLC240268 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS76383G |
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PAN No.: [Permanent Account No.] |
AACCS6163P |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturing of Pharmaceutical Products. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having fine track record. The rating takes into consideration company’s healthy operational
performance which has resulted into profit archived from its operation
activities during 2014. Further rating takes into consideration decent
financial base and adequate liquidity positon of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for normal business dealings at
usual terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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
31-03-2014.
LOCATIONS
|
Registered Office : |
201, B/1, Western Express Highway, Jay Coach, Jogeshwari East,
Mumbai-400065, Maharashtra, India |
|
Tel. No. : |
91-22-66969696 |
|
Fax No. : |
Not Available |
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E-Mail : |
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Corporate Office: |
F.P. 145, Ram Mandir Road, Vile Parle (East), Mumbai – 400057,
Maharashtra, India |
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Factory: |
Plot No. 754, Nandok Block, Setipool, Gangtok – 737135,
Sikkim, India |
DIRECTORS
As on: 12.08.2014
|
Name : |
Mr. Dilip Shantilal Shanghvi |
|
Designation : |
Director |
|
Address : |
8th Floor, Abhay Building, NS 9th Road, Juhu, Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
01.10.1955 |
|
Date of Appointment : |
08.11.2012 |
|
PAN No.: |
AMPPS4862F |
|
DIN No. : |
00005588 |
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|
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Name : |
Mr. Sudhir Vrundavandas Valia |
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Designation : |
Director |
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Address : |
801, Alaap Building, 8th Floor, 173, Sir Balchandra Road, Dadar (East), Mumbai – 400014, Maharashtra, India |
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Date of Birth/Age : |
26.07.1956 |
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Date of Appointment : |
08.11.2012 |
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DIN No. : |
00005561 |
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Name : |
Mr. Sailesh Trambaklal Desai |
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Designation : |
Director |
|
Address : |
A, 11th Floor, Aditya Society, Samarth Ram Das Marg, Gulmohur, Cross Road No.7, JVPD, Vile Parle (West), Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
15.07.1954 |
|
Date of Appointment : |
08.11.2012 |
|
DIN No. : |
00005443 |
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Name : |
Subhagmal Mohanchand Dadha |
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Designation : |
Director |
|
Address : |
New No. 250/ Old No 268, Lloyds Road, Royapettah, Chennai - 600014, Tamilnadu, India |
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Date of Birth/Age : |
23.10.1936 |
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Date of Appointment : |
09.08.2013 |
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DIN No. : |
00087414 |
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Name : |
Mrs. Rekha P .Sethi |
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Designation : |
Director |
|
Address : |
30/19, East Patel Nagar, New Delhi – 110008, India |
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Date of Birth/Age : |
04.11.1963 |
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Date of Appointment : |
29.05.2014 |
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DIN No. : |
06809515 |
KEY EXECUTIVES
|
Name : |
Mr. Abhay A. Gandhi |
|
Designation : |
Manager |
|
Address : |
E-402, Anmol Towers, Off. S.V. Road, Opp. Patel Petrol Pump, Goregaon – (West), Mumbai – 400062, Maharashtra, India |
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Date of Birth/Age : |
25.05.1964 |
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Date of Appointment : |
01.08.2013 |
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PAN No.: |
AAXPG9162A |
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|
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Name : |
Mrs. Divya Ligory Mascarenhas |
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Designation : |
Secretary |
|
Address : |
304, Mukund Park, Sheetal Nagar, Mira Road (East), Thane – 401107, Maharashtra, India |
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Date of Birth/Age : |
15.10.1990 |
|
Date of Appointment : |
01.08.2013 |
|
PAN No.: |
AZRPM3799C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 12.08.2014
|
Names of Equity Shareholders |
|
No. of Shares |
|
Sun Pharmaceutical Industries Limited, India |
|
49994 |
|
Dilip Shantilal Shanghvi * Jt. Sun Pharmaceutical Industries Limited, India |
|
1 |
|
Sudhir V. Valia * Jt. Sun Pharmaceutical Industries Limited, India |
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1 |
|
Sailesh T. Desai * Jt. Sun Pharmaceutical Industries Limited, India |
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1 |
|
Sunil R. Ajmera * Jt. Sun Pharmaceutical Industries Limited, India |
|
1 |
|
Ashok I. Bhuta * Jt. Sun Pharmaceutical Industries Limited, India |
|
1 |
|
Dinesh R. Desai * Jt. Sun Pharmaceutical Industries Limited, India |
|
1 |
|
Total |
|
50000 |
* holding shares for and on behalf of Sun Pharmaceutical Industries Limited (SPIL), as nominee of SPIL, jointly with SPIL To comply with the requirement of a public company to have a minimum of seven shareholders.
|
Names of Preference Shareholder |
|
No. of Shares |
|
Sun Pharmaceutical Industries Limited, India |
|
4000000 |
|
Total |
|
4000000 |
Equity Share Break up (Percentage of Total Equity)
As on: 12.08.2014
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Pharmaceutical Products. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
Not Available |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
Indiabulls Finance Centre, Tower 3, 27th - 32nd Floor, Elphinstone Mill Compound, Senapati Bapat Marg, Elphinstone (W), Mumbai - 400 013, India. |
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Income-tax
PAN of auditor or auditor's firm : |
AACFD4815A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
·
Sun Pharmaceutical Industries Limited, India CIN No.: L24230GJ1993PLC019050 |
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Subsidiary Company : |
·
Universal Enterprises Limited CIN No.: L51491WB1984PLC038118 |
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Fellow Subsidiary Company: |
·
Pharmaceutical Laboratories Limited. CIN No.: U24100MH2012FTC225970 ·
Sun Pharma Global (FZE) ·
Alkaloida Chemical Company Zrt. ·
Faststone Mercantile Company Private Limited CIN No.: U51900MH2006PTC159266 ·
Realstone Multitrade Private Limited CIN No.: U51900MH2006PTC158889 ·
Softdeal Trading Company Private Limited CIN No.: U51900MH2006PTC159237 ·
Skisen Labs Private Limited CIN No.: U73100MH2005PTC150606 ·
Neetnav Real Estate Private Limited CIN No.: U45200MH2010PTC201611 |
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Enterprises under common control of Holding Company |
·
Sun Pharmaceutical Industries ·
Sun Pharma Sikkim |
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Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives: |
·
Sun Pharma Advanced Research Company Limited ·
CIN No.: L73100GJ2006PLC047837 |
CAPITAL STRUCTURE
As on 12.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 500.000 Millions |
|
4,000,000 |
Preference Shares |
Rs.100/- each |
Rs. 400.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 900.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Million |
|
4,000,000 |
Preference Shares |
Rs.100/- each |
Rs. 400.000 Millions |
|
|
|
|
|
|
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Total |
|
Rs. 400.500
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
400.500 |
0.500 |
0.100 |
|
(b) Reserves & Surplus |
185933.600 |
183467.300 |
185655.300 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
400.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
186334.100 |
183867.800 |
185655.400 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
115.700 |
115.700 |
|
(b) Deferred tax liabilities (Net) |
276.100 |
191.400 |
0.000 |
|
(c) Other long term liabilities |
77.600 |
79.400 |
0.000 |
|
(d) long-term provisions |
719.300 |
669.200 |
0.000 |
|
Total Non-current Liabilities (3) |
1073.000 |
1055.700 |
115.700 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
89.600 |
149.200 |
0.000 |
|
(b) Trade payables |
2930.100 |
836.500 |
0.100 |
|
(c) Other current
liabilities |
409.400 |
2983.600 |
0.000 |
|
(d) Short-term provisions |
768.800 |
499.700 |
0.000 |
|
Total Current Liabilities (4) |
4197.900 |
4469.000 |
0.100 |
|
|
|
|
|
|
TOTAL |
191605.000 |
189392.500 |
185771.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2345.500 |
2301.000 |
38.100 |
|
(ii) Intangible Assets |
152397.400 |
167637.200 |
182877.000 |
|
(iii) Capital
work-in-progress |
3287.500 |
2009.900 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
3548.500 |
128.200 |
115.700 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2331.100 |
693.800 |
14.100 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
163910.000 |
172770.100 |
183044.900 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
11150.000 |
3260.000 |
1.100 |
|
(b) Inventories |
5166.400 |
3624.700 |
1460.900 |
|
(c) Trade receivables |
3831.700 |
6044.100 |
1238.400 |
|
(d) Cash and cash
equivalents |
483.800 |
27.800 |
0.000 |
|
(e) Short-term loans and
advances |
7031.200 |
3640.800 |
25.900 |
|
(f) Other current assets |
31.900 |
25.000 |
0.000 |
|
Total Current Assets |
27695.000 |
16622.400 |
2726.300 |
|
|
|
|
|
|
TOTAL |
191605.000 |
189392.500 |
185771.200 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
38512.600 |
26849.400 |
0.000 |
|
|
|
Other Income |
611.200 |
731.700 |
0.000 |
|
|
|
TOTAL (A) |
39123.800 |
27581.100 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
8881.200 |
5415.200 |
0.000 |
|
|
|
Purchases of stock-in-trade |
2827.600 |
1578.400 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(500.300) |
181.800 |
0.000 |
|
|
|
Employee benefit expense |
2461.800 |
1915.900 |
0.000 |
|
|
|
Other expenses |
6595.900 |
4501.700 |
0.100 |
|
|
|
TOTAL (B) |
20266.200 |
13593.000 |
0.100 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
18857.600 |
13988.100 |
(0.100) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
18857.600 |
13988.100 |
(0.100) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
15436.700 |
15344.200 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
3420.900 |
(1356.100) |
(0.100) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
984.600 |
831.900 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
2436.300 |
(2188.000) |
(0.100) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
49325.96 |
(49297.70) |
(4.30) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
6.33 |
(8.15) |
NA |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
48.96 |
52.10 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.85 |
(0.72) |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
(0.01) |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.60 |
3.72 |
27263.00 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
0.100 |
0.500 |
400.500 |
|
Share
Application money pending allotment |
0.000 |
400.000 |
0.000 |
|
Reserves & Surplus |
185655.300 |
183467.300 |
185933.600 |
|
Net worth |
185655.400 |
183867.800 |
186334.100 |
|
|
|
|
|
|
long-term borrowings |
115.700 |
115.700 |
0.000 |
|
Short term borrowings |
0.000 |
149.200 |
89.600 |
|
Total borrowings |
115.700 |
264.900 |
89.600 |
|
Debt/Equity ratio |
0.001 |
0.001 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Revenue From Operations |
26849.400 |
38512.600 |
|
|
|
43.439 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Revenue From Operations |
26849.400 |
38512.600 |
|
Profit/Loss |
(2188.000) |
2436.300 |
|
|
(8.15%) |
6.33% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
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 COMPANY
CHANGE OF ADDRESS
The registered office of the company has been shifted from “Acme Plaza, Andheri-Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra, India” to the present address, but the same has not been effected in the Government registry.
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans repayable on demand from other |
0.000 |
115.700 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Loans repayable on demand from banks |
89.600 |
149.200 |
|
Total |
89.600 |
264.900 |
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2014 |
|
Guarantees |
22.300 |
|
Other money for which company is contingently liable |
9239.900 |
|
Total |
9262.200 |
FIXED ASSETS
v
Tangible
Assets
Land
Buildings
Plant
and Equipment
Furniture
and Fixtures
Vehicles
Motor
Vehicles
Office
Equipment
Other
Equipments
v
Intangible Assets
Brands
and Trade Marks
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.62.14 |
|
|
1 |
Rs.95.78 |
|
Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVD |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
54 |
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.