MIRA INFORM REPORT
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Report No. : |
329640 |
|
Report Date : |
06.07.2015 |
IDENTIFICATION DETAILS
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Name : |
MOREPEN LABORATORIES LIMITED |
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Registered
Office : |
Morepen Village, Nalagarh Road, Near Baddi, District Solan – 173205, Himachal Pradesh |
|
Tel. No.: |
91-11-23324443,23712025 |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
01.12.1984 |
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Com. Reg. No.: |
006028 |
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Capital Investment
/ Paid-up Capital : |
Rs.2096.107 Million |
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CIN No.: [Company Identification
No.] |
L24231HP1984PLC006028 |
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IEC No.: |
2288001348 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PTLM11889D |
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PAN No.: [Permanent Account No.] |
AABCM1083B |
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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
: |
Manufacturer and Exporter of pharmaceutical products. |
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No. of Employees
: |
1010 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (14) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Status : |
Poor |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having poor track. The company possesses weak financial risk profile marked by losses
incurred from its operational activities and weak liquidity and debt
protection metrics of the company. Moreover, it is also to be noted that company has listed with RBI defaulter
and defaulted hefty amount with serval banks. Business is active. Payments are reported to be slow. In view of weak financial and managerial profile, the company can be
considered for business dealings on safe and secured 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.
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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
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Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name has been found enlisted as a defaulter
in the publicly available RBI Defaulters’ list and the details of the same are
as under :
|
BANK |
BRANCH |
QUARTER |
BORROWER NAME |
DIRECTORS NAME |
OUT STANDING AMOUNT |
|
BANK OF BARODA |
CBB NEW DELH |
31-12-05 |
SUSHIL SURI, J.S.PAL, ARUN
SURI, N.H.BALTER, P.S.PRITAM, JUJHAR SINGH, V.K.SAXENA, KANTA SURI |
555.800 |
|
|
BANK OF BARODA |
CBB NEW DELH |
31-03-06 |
V.K.SAXENA, P.S.PRITAM,
N.H.BALTER, J.S.PAL, JUJHAR SINGH, ARUN SURI, SUSHIL SURI, KANTA SURI MRS |
555.800 |
|
|
BANK OF BARODA |
CFS, NEW DELHI |
30-06-06 |
KANTA SURI, JUJHAR SINGH, ARUN
SURI, SUSHIL SURI, V.K.SAXENA, P.S.PRITAM, N.H.BALTER, J.S.PAL |
473.700 |
|
|
BANK OF BARODA |
CFS, NEW DELHI |
30-06-07 |
J.S.PAL, SUSHIL SURI, ARUN
SURI, N.H.BALTER, V.K.SAXENA, P.S.PRITAM, JUJHAR SINGH, KANTA SURI |
473.800 |
|
|
BANK OF BARODA |
CFS, NEW DELHI |
30-09-07 |
KANTA SURI, SUSHIL SURI,
J.S.PAL, ARUN SURI, N.H.BALTER, JUJHAR SINGH, P.S.PRITAM, V.K.SAXENA |
473.800 |
|
|
BANK OF BARODA |
CFS, NEW DELHI |
30-09-06 |
|
473.700 |
|
|
BANK OF BARODA |
CFS, NEW DELHI |
31-12-06 |
KANTA SURI, J.S.PAL, SUSHIL
SURI, ARUN SURI, N.H.BALTER, JUJHAR SINGH, V.K.SAXENA, P.S.PRITAM |
473.800 |
|
|
BANK OF BARODA |
CFS, NEW DELHI |
31-03-07 |
J.S.PAL, SUSHIL SURI, ARUN SURI,
V.K.SAXENA, P.S.PRITAM, JUJHAR SINGH, N.H.BALTER, KANTA SURI |
473.800 |
|
|
SOCIETE GENERALE |
DELHI |
31-03-04 |
SUNIL GULATI, MANOJ JOSHI, PS PRITAM,
SUSHIL KUMAR SURI |
67.500 |
|
|
UNIT TRUST OF INDIA LTD |
MAIN BRANCH |
30-06-04 |
P.S.PRITAM, R.D.DAMLE, DEEPAK
GUPTA, MANOJ JOSHI, SUNIL GULATI, SUSHIL SURI |
82.100 |
|
|
UNIT TRUST OF INDIA LTD |
MAIN BRANCH |
31-03-04 |
SUNIL GULATI, DEEPAK GUPTA,
MANOJ JOSHI, SUSHIL SURI, R.D.DAMLE, P.S.PRITAM |
64.100 |
|
|
UNIT TRUST OF INDIA LTD |
MAIN BRANCH |
30-09-04 |
R.D.DAMLE, DEEPAK GUPTA,
P.S.PRITAM, MANOJ JOSHI, SUSHIL SURI, SUNIL GULATI |
82.800 |
|
|
UNIT TRUST OF INDIA LTD |
MAIN OFFICE |
30-09-03 |
DEEPAK GUPTA, MANOJ JOSHI,
P.S.PRITAM, R.D.DAMLE, SUNIL GULATI, SUSHIL SURI |
45.000 |
|
|
UNIT TRUST OF INDIA LTD |
MAIN OFFICE |
31-12-03 |
DEEPAK GUPTA, MANOJ JOSHI,
P.S.PRITAM, R.D.DAMLE, SUNIL GULATI, SUSHIL SURI |
45.000 |
|
|
SPECIFIED UNDERTAKING OF UNIT TRUST OF INDIA |
MUMBAI |
30-06-10 |
BHUPENDER RAJ WADHWA, MANOJ
JOSHI, ARUN KUMAR SINHA, SUSHIL SURI, SUKHCHARAN SINGH |
98.900 |
|
|
SPECIFIED UNDERTAKING OF UNIT
TRUST OF INDIA |
MUMBAI |
31-12-10 |
SUSHIL SURI, SUKHCHARAN SINGH,
BHUPENDER RAJ WADHWA, ARUN KUMAR SINHA, MANOJ JOSHI |
98.900 |
|
|
SPECIFIED UNDERTAKING OF UNIT TRUST OF INDIA |
MUMBAI |
30-09-11 |
ARUN KUMAR SINHA, SUSHIL SURI,
SUKHCHARAN SINGH, BHUPENDER RAJ WADHWA, MANOJ JOSHI |
75.100 |
|
|
SPECIFIED UNDERTAKING OF UNIT TRUST OF INDIA |
MUMBAI |
31-12-11 |
SUSHIL SURI, BHUPENDER RAJ
WADHWA, MANOJ JOSHI, ARUN KUMAR SINHA, SUKHCHARAN SINGH |
75.100 |
|
|
SPECIFIED UNDERTAKING OF UNIT TRUST OF INDIA |
MUMBAI |
31-03-10 |
MANOJ JOSHI, SUSHIL SURI,
SUKHCHARAN SINGH, BHUPENDER RAJ WADHWA, ARUN KUMAR SINHA |
98.900 |
|
|
SPECIFIED UNDERTAKING OF UNIT TRUST OF INDIA |
MUMBAI |
31-12-09 |
MANOJ JOSHI, SUKHCHARAN SINGH,
SUSHIL SURI, ARUN KUMAR SINHA, BHUPENDER RAJ WADHWA |
98.900 |
|
|
SPECIFIED UNDERTAKING OF UNIT TRUST OF INDIA |
MUMBAI |
30-09-09 |
SUKHCHARAN SINGH, ARUN KUMAR
SINHA, BHUPENDER RAJ WADHWA, MANOJ JOSHI, SUSHIL SURI |
98.900 |
|
|
SPECIFIED UNDERTAKING OF UNIT TRUST OF INDIA |
MUMBAI |
30-09-07 |
BHUPENDER RAJ WADHWA, MANOJ
JOSHI, SUSHIL SURI, SUKHCHARAN SINGH, ARUN KUMAR SINHA |
100.100 |
|
|
SPECIFIED UNDERTAKING OF UNIT TRUST OF INDIA |
MUMBAI |
31-12-07 |
BHUPENDER RAJ WADHWA, MANOJ
JOSHI, SUSHIL SURI,, ARUN KUMAR SINHA, SUKHCHARAN SINGH |
100.100 |
|
|
SPECIFIED UNDERTAKING OF UNIT TRUST OF INDIA |
MUMBAI |
31-03-08 |
ARUN KUMAR SINHA, MANOJ JOSHI,
BHUPENDER RAJ WADHWA, SUKHCHARAN SINGH, SUSHIL SURI |
100.100 |
|
|
SPECIFIED UNDERTAKING OF UNIT TRUST OF INDIA |
MUMBAI |
31-03-09 |
ARUN KUMAR SINHA, MANOJ JOSHI,
BHUPENDER RAJ WADHWA, SUSHIL SURI, SUKHCHARAN SINGH |
98.900 |
|
|
BANK OF BAHRAIN & KUWAIT B.S.C. |
MUMBAI |
30-06-04 |
SUSHIL SURI, J.S.PAL, SUNIL
GULATI, ARUN SURI, KANTA SURI, R.D.DAMLE, DEEPAK GUPTA, P.S.PRITAM, MANOJ
JOSHI, JUJHAR SINGH, N.H.BHATTER |
143.600 |
|
|
BANK OF BAHRAIN & KUWAIT B.S.C. |
MUMBAI |
31-12-03 |
ARUN SURI, DEEPAK GUPTA,
J.S.PAL, JUJHAR SINGH, KANTA SURI, MANOJ JOSHI, N.H.BHATTER, P.S.PRITAM,
R.D.DAMLE, SUNIL GULATI, SUSHIL SURI |
143.600 |
|
|
BANK OF BAHRAIN & KUWAIT B.S.C. |
MUMBAI |
30-09-04 |
R.D.DAMLE, JUJHAR SINGH,
J.S.PAL, ARUN SURI, DEEPAK GUPTA, SUNIL GULATI, SUSHIL SURI, KANTA SURI, P.S.PRITAM,
MANOJ JOSHI, N.H.BHATTER |
143.600 |
|
|
BANK OF BAHRAIN & KUWAIT B.S.C. |
MUMBAI |
31-03-04 |
JUJHAR SINGH, R.D.DAMLE, SUNIL
GULATI, SUSHIL SURI, KANTA SURI, ARUN SURI, N.H.BHATTER, P.S.PRITAM, MANOJ
JOSHI, DEEPAK GUPTA, J.S.PAL |
151.800 |
|
|
BANK OF BAHRAIN & KUWAIT B.S.C. |
MUMBAI |
31-03-09 |
Sushil Suri |
97.079 |
|
|
BANK OF BAHRAIN & KUWAIT
B.S.C. |
MUMBAI |
30-06-09 |
Sushil Suri |
97.079 |
|
|
BANK OF BAHRAIN & KUWAIT B.S.C. |
MUMBAI |
30-09-09 |
Sushil Suri |
97.079 |
|
|
BANK OF BAHRAIN & KUWAIT B.S.C. |
MUMBAI |
31-12-09 |
Sushil Suri |
97.079 |
|
|
BANK OF BAHRAIN & KUWAIT B.S.C. |
MUMBAI |
31-03-10 |
Sushil Suri |
1.994 |
|
|
BANK OF BAHRAIN & KUWAIT B.S.C. |
MUMBAI |
30-06-10 |
Sushil Suri |
0.000 |
|
|
SOCIETE GENERALE |
MUMBAI |
31-03-05 |
SUSHIL SURI |
53.141 |
|
|
SOCIETE GENERALE |
MUMBAI |
30-09-04 |
SUSHIL SURI |
52.713 |
|
|
SOCIETE GENERALE |
MUMBAI |
31-12-04 |
SUSHIL SURI |
52.713 |
|
|
SOCIETE GENERALE |
MUMBAI |
30-09-05 |
SUSHIL SURI |
52.475 |
|
|
SOCIETE GENERALE |
MUMBAI |
31-12-05 |
SUSHIL SURI |
53.141 |
|
|
SOCIETE GENERALE |
MUMBAI |
31-03-06 |
SUSHIL SURI |
53.141 |
|
|
UNIT TRUST OF INDIA LTD |
MUMBAI |
31-03-05 |
DEEPAK GUPTA, MANOJ JOSHI,
SUNIL GULATI, SUSHIL SURI, P.S.PRITAM, R.D.DAMLE |
100.135 |
|
|
SBI COMMERCIAL AND INTERNATIONAL BANK LTD. |
NARIMAN POINT |
31-12-03 |
ARUN SURI, DEEPAK GUPTA,
JUJHAR SINGH, KANTA SURI, MAMTA SURI, MANOJ JOSHI, N. H. BHATTER, P. S. PRITAM,
SANJAY SURI, SUSHIL SURI |
105.200 |
|
|
SBI COMMERCIAL AND INTERNATIONAL BANK LTD. |
NARIMAN POINT |
30-06-03 |
ARUN SURI, DEEPAK GUPTA, JUJHAR
SINGH, KANTA SURI, MAMTA SURI, MANOJ JOSHI, N. H. BHATTER, P. S. PRITAM,
SANJAY SURI, SUSHIL SURI |
105.200 |
|
|
SBI COMMERCIAL AND INTERNATIONAL BANK LTD. |
NARIMAN POINT |
30-09-03 |
ARUN SURI, DEEPAK GUPTA,
JUJHAR SINGH, KANTA SURI, MAMTA SURI, MANOJ JOSHI, N. H. BHATTER, P. S.
PRITAM, SANJAY SURI, SUSHIL SURI |
105.200 |
|
|
CHINATRUST COMMERCIAL BANK
LTD. |
NEW DELHI |
31-12-05 |
P.S.Pritam, Sushil Suri, Sunil
Gulati, Manoj Joshi |
0.112 |
|
|
CHINATRUST COMMERCIAL BANK LTD. |
NEW DELHI |
30-09-05 |
P.S.Pritam, Sunil Gulati,
Manoj Joshi, Sushil Suri |
85.887 |
|
|
THE SOUTH INDIAN BANK LIMITED |
NEW DELHI C.P. |
30-06-05 |
ARUN SURI, SUSHIL SURI, V K
SAXENA, JUJMAR SINGH, J S PAL, KANTHA SURI, MANOJ JOSHI, MAMTA SURI |
131.500 |
|
|
THE SOUTH INDIAN BANK LIMITED |
NEW DELHI C.P. |
30-09-05 |
J S PAL, ARUN SURI, SUSHIL
SURI, JUJMAR SINGH, KANTHA SURI, MANOJ JOSHI, V K SAXENA, MAMTA SURI |
131.500 |
|
|
THE SOUTH INDIAN BANK LIMITED |
NEW DELHI C.P. |
31-03-06 |
KANTHA SURI, JUJMAR SINGH,
MANOJ JOSHI, MAMTA SURI, J S PAL, SUSHIL SURI, V K SAXENA, ARUN SURI |
131.500 |
|
|
THE SOUTH INDIAN BANK LIMITED |
NEW DELHI C.P. |
31-12-05 |
SUSHIL SURI, V K SAXENA, J S
PAL, ARUN SURI, KANTHA SURI, JUJMAR SINGH, MANOJ JOSHI, MAMTA SURI |
131.500 |
|
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THE SOUTH INDIAN BANK LIMITED |
NEW DELHI C.P. |
30-09-06 |
|
131.500 |
|
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THE SOUTH INDIAN BANK LIMITED |
NEW DELHI C.P. |
31-12-06 |
SUSHIL SURI, V K SAXENA, J S
PAL, ARUN SURI, MANOJ JOSHI, KANTHA SURI, JUJMAR SINGH, MAMTA SURI |
131.500 |
|
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THE SOUTH INDIAN BANK LIMITED |
NEW DELHI C.P. |
30-06-06 |
V K SAXENA, MAMTA SURI, KANTHA
SURI, ARUN SURI, SUSHIL SURI, JUJMAR SINGH, J S PAL, MANOJ JOSHI |
131.500 |
|
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THE SOUTH INDIAN BANK LIMITED |
NEW DELHI C.P. |
30-06-07 |
MANOJ JOSHI, MAMTA SURI, V K SAXENA,
KANTHA SURI, J S PAL, SUSHIL SURI, ARUN SURI, JUJMAR SINGH |
131.500 |
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 PARTED BY
|
Name : |
Mr. Rajiv Jain |
|
Designation : |
Accounts Department |
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Contact No.: |
91-1792-233285 |
|
Date : |
01.07.2015 |
LOCATIONS
|
Registered Office : |
Morepen Village, Nalagarh Road, Near Baddi, District Solan – 173205, Himachal Pradesh, India |
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Tel. No.: |
91-1795-276201-03 |
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Fax No.: |
91-1795-276204 |
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E-Mail : |
Home Health Devices : devices.customercare@morepen.com API’s : sales@morepen.com Formulations :medicuspmt@morepen.com OTC / Dr Morepen :mktg@morepen.com Finance :corporatefinance@morepen.com Fixed Deposit : fixeddeposit@morepen.com Career humanresource@morepen.com |
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Website : |
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Location : |
Owned [Commercial] |
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Corporate Office : |
409, Antriksh Bhawan, 22 Kasturba Gandhi Marg, New Delhi - 110 001, India |
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Tel. No.: |
91-11-23324443,23712025 |
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Fax No.: |
91-11 23722422 |
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E-Mail : |
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Factory 1 : |
Located at Masulkhanna, Himachal Pradesh, India Village Masulkhana, District Solan, Himachal Pradesh, India |
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Tel. No.: |
91-1792-233284 |
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Fax No.: |
91-1792-232606 |
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Factory 2 : |
Located at Baddi, Himachal Pradesh, India |
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Tel. No.: |
91-1795-246408/03 |
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Fax No.: |
91-1795-244591 |
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Factory 3 : |
Sector-2, Parwanoo, District Solan, Himachal Pradesh, India |
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USA Office : |
666 Plainsboro Road, Suite 215, Plainsboro, New Jersey - 08536 |
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Tel. No.: |
+609 716 6300 |
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Fax No.: |
+609 716 6301 |
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E-Mail : |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. Sushil Suri |
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Designation : |
Chairman and Managing Director |
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Name : |
Dr. Arun Kumar Sinha |
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Designation : |
Director |
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Name : |
Mr. Manoj Joshi |
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Designation : |
Director |
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Name : |
Mr. Bhupender Raj Wadhwa |
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Designation : |
Director |
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Name : |
Mr. Sukhcharan Singh |
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Designation : |
Director |
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Date of Birth/Age : |
07.09.1942 |
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Qualification : |
B.A., Retired Inspector General of Police |
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Date of Appointment : |
15.06.2005 |
KEY EXECUTIVES
|
Name : |
Mr. Rajiv Jain |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2015
|
Category of Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of Shares |
|
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||
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(A) Shareholding of
Promoter and Promoter Group |
||
|
|
|
|
|
|
41241750 |
9.17 |
|
|
114129838 |
25.37 |
|
|
155371588 |
34.54 |
|
|
|
|
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Total shareholding of
Promoter and Promoter Group (A) |
155371588 |
34.54 |
|
|
|
|
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(B) Public Shareholding |
||
|
|
|
|
|
|
6367940 |
1.42 |
|
|
22484570 |
5.00 |
|
|
48897500 |
10.87 |
|
|
77750010 |
17.28 |
|
|
|
|
|
|
22828279 |
5.07 |
|
|
|
|
|
Individual shareholders
holding nominal share capital up to Rs. 0.100 Million |
148678943 |
33.05 |
|
Individual shareholders
holding nominal share capital in excess of Rs. 0.100 Million |
26844865 |
5.97 |
|
|
18352518 |
4.08 |
|
|
14162346 |
3.15 |
|
|
3917542 |
0.87 |
|
|
272630 |
0.06 |
|
|
216704605 |
48.18 |
|
Total Public shareholding
(B) |
294454615 |
65.46 |
|
|
|
|
|
Total (A)+(B) |
449826203 |
100.00 |
|
|
|
|
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(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) |
449826203 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of pharmaceutical products. |
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Products : |
Complex and high margins molecules (APIs/Intermediates), formulations,
diagnostics and Over the Counter (OTC) products. |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Loratadine |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Selling : |
Cash, Cheque and Credit (60 days / 90 days) |
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Purchasing : |
Cash, Cheque and Credit (60 days / 90 days) |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Retailers, End Users and OEMs
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|
No. of Employees : |
1010 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
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|
Bankers : |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
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|
Facilities : |
NOTE [AS ON
31.03.2014] LONG TERM
BORROWINGS Term Loans from Banks & Institutions a. Term loans, except noted at (d) below, are secured by a first charge created by way of a joint equitable mortgage on pari-passu basis on all immovable and movable fixed assets, including plant and machinery, land & buildings and others, both present and future, first charge over Escrow/Trust and Retention Account, and second charge on the current assets of the company, both present and future. Further these loans are secured by personal guarantee of Managing Director of the company. b. Yearwise re-payment schedule of Interest bearing portion of term loans, payable in quarterly instalments is as under –
c. Yearwise re-payment schedule of Interest free portion of term loans, payable in quarterly instalments is as under. Debt is interest free till March, 2015.
d. Other loans represents vehicle loans, repayable on monthly basis, are secured by way of hypothecation of specific assets purchased under the hire purchase scheme
e. Details of delay in repayment of term loan & interest thereon is as under –
|
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|
|
|
|
Financial Institution : |
The Oriental Insurance Company Limited, Oriental House, Post Bag No. 7037, A- 25/27, Asaf Ali Road, New Delhi - 110002, India |
|
|
|
|
Auditors : |
|
|
Name : |
M. Kamal Mahajan and Company Chartered Accountants |
|
Address : |
SCO 61, Madhya Marg, Sector 26, Chandigarh, India |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
--- |
|
|
|
|
Subsidiary
Companies [AS ON 31.03.2014]
: |
MorepenMax Inc. - Overseas Company Morepen Inc. - Overseas Company Dr. Morepen Limited - Domestic Company Total Care Limited - Domestic Company |
|
|
|
|
Associates [AS ON 31.03.2014]: |
Morepen Biotech Limited - Domestic Company |
|
|
|
|
Entities over which
key management personnel/ or Relatives of key management personnel are able
to exercise significant influence with which the company has any transactions
during the year [AS ON 31.03.2014]: |
Blue Coast Infrastructure Development Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.2096.107 Million
AS ON 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
45,00,00,000 |
Equity Shares |
Rs.2/- each |
Rs.900.000 Million |
|
1,20,00,000 |
Preferences Shares |
Rs.100/- each |
Rs.1200.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs.2100.000
Million |
Issued & Subscribed Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
44,98,26,203 |
Equity Shares |
Rs.2/- each |
Rs.899.700
Million |
|
97,35,201 |
0.01% Optionally Convertible Preference Share |
Rs.100/- each |
Rs.973.500
Million |
|
17,30,000 |
0.01% Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs.173.000
Million |
|
5,00,000 |
9.75% Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs.50.000
Million |
|
|
|
|
|
|
|
Total |
|
Rs.2096.200 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
44,97,93,203 |
Equity Shares |
Rs.2/- each |
Rs.899.600
Million |
|
97,35,201 |
0.01% Optionally Convertible Preference Share |
Rs.100/- each |
Rs.973.500
Million |
|
17,30,000 |
0.01% Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs.173.000
Million |
|
5,00,000 |
9.75% Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs.50.000
Million |
|
|
|
|
|
|
|
Total |
|
Rs.2096.100 Million |
NOTE:
Reconciliation of the
numbers and amount of Equity shares.
|
Particulars |
31.03.2014 |
|
|
Nos. |
Amount in Million |
|
|
Outstanding at beginning of the year |
449826203 |
899.700 |
|
Add : Shares issued during the year |
-- |
-- |
|
Less : Shares bought back during the year |
-- |
-- |
|
Outstanding at the end of year |
449826203 |
899.700 |
Reconciliation of the
numbers and amount of Preference shares –
|
Particulars |
31.03.2014 |
|
|
Nos. |
Amount in Million |
|
|
Outstanding at beginning of the year |
11965201 |
1196.500 |
|
Add : Shares issued during the year |
-- |
-- |
|
Less : Shares bought back during the year |
-- |
-- |
|
Outstanding at the end of year |
11965201 |
1196.500 |
Rights, preferences and restrictions attached to
each class of Shares and terms of redemption
Rights,
preferences and restrictions attached to each class of Shares and terms of
redemption
a) i) The
company has two classes of shares referred as equity shares and preference
shares. The equity shares are having a par value of Rs. 2/- each whereas par
value for each preference shares is Rs. 100/-. Every holder of equity shares is
entitled to one vote per share in respect of all matters submitted to vote in the
shareholders' meeting. Preference shareholders are entitled to one vote per
share, in respect of every resolution placed before the company which directly
affect the rights attached to their shares. However, a cumulative preference
shareholder acquires voting rights at par with an equity shareholder if the
dividend on preference shares has remained unpaid for a period of not less than
two years.
ii) In the
event of liquidation of the company, the holders of equity shares will be
entitled to receive the remaining assets of the company after distribution of
preferential amounts. The distribution will be in the proportion of the number
of equity shares held by the shareholders.
iii) 1730000,
0.01% Redeemable Preference Shares of Rs. 100/- each and 500000, 9.75%
Redeemable Preference Shares of Rs. 100/- each are cumulative. Dividend arrears
on these shares as at 31.03.2014 are Rs. 58.600 Million (Previous year Rs.
53.700 Million).
b) i) Out of
97,35,201, 0.01% Optionally Convertible Preference Shares, Shares amounting to
Rs. 704.000 Million fall due for redemption/conversion on May 4, 2014, shares
amounting to Rs. 176.200 Million are due for redemption on May 31, 2014 whereas
balance shares amounting to Rs. 93.300 Million are due for
redemption/conversion on February 9, 2015. The conversion, if opted for, of
preference shares into equity shares will be at price determined as per SEBI
guidelines. Dividend arrears on above preference shares as at 31.03.2014 are
Rs. 0.700 Million (Previous year Rs. 0.600 Million).
ii) Out of
17,30,000, 0.01% Cumulative Redeemable Preference Shares, 15,30,000 Shares
amounting Rs. 153.000 Million are redeemable in two equal instalments, on May
4, 2016 and May 4, 2017. Balance 200000 Shares amounting Rs. 20.000 Million, had
already become due for redemption in the financial year ending 31.03.2012,
could not be redeemed because of unavailability of surplus.
iii)
5,00,000, 9.75% Cumulative redeemable Preference shares amounting to Rs. 50.000
Million had been due for redemption since March, 2004, however, could not be
redeemed because of unavailability of surplus. The subscriber has filed a legal
case against the company for the recovery of the sum invested as well as
interest thereon. The company has contested the claim of the subscriber and
have moved the jurisdictional appellant authorities against the said claim.
iv) Capital
Redemption Reserve for redemption of Preference Shares could not be created
during the year because of unavailability of surplus.
The company itself being ultimate holding
company, therefore, disclosure requirements about its parent company are not
applicable in the present case.
Shareholders holding
more than 5% shares
i) Equity Shares
|
Name of Shareholder |
31.03.2014 |
|
|
No. of Shares |
% of Holding |
|
|
|
|
|
|
GL India Mauritius (III) Limited |
38530000 |
8.57 |
|
|
|
|
ii) Preference Shares
a) 9735201, 0.01%
Optionally Convertible Redeemable Shares -
|
Name of Shareholder |
31.03.2014 |
|
|
No. of Shares |
% of Holding |
|
|
Bank of Nova Scotia |
1179000 |
12.11 |
|
Stressed Assets Stabilisation Fund (SASF) |
961044 |
9.87 |
|
EXIM Bank |
916333 |
9.41 |
|
SICOM |
829463 |
8.52 |
|
Punjab National Bank |
671522 |
6.90 |
|
Oriental Bank of Commerce |
623828 |
6.41 |
|
Dena Bank |
593936 |
6.10 |
|
UCO Bank |
515900 |
5.30 |
b) 1730000, 0.01%
Cumulative Redeemable Shares –
|
Name of Shareholder |
31.03.2014 |
|
|
No. of Shares |
% of Holding |
|
|
Oriental Bank of Commerce |
1000000 |
57.80 |
|
Axis Bank Limited |
500000 |
28.90 |
|
Blue Sky Securities Private Limited |
200000 |
11.56 |
c) 500000, 9.75%
Cumulative Redeemable Shares –
|
Name of Shareholder |
31.03.2014 |
|
|
No. of Shares |
% of Holding |
|
|
|
|
|
|
Jammu and Kashmir Bank Limited |
500000 |
100 |
|
|
|
|
During last 5 years immediately preceding the balance sheet date, no Equity Share or Preference share has been
issued pursuant to any contract without payment being received in cash. Further the company has neither allotted
any share by way of bonus shares, nor it had bought back any Equity or Preference Share during aforesaid period of 5 years.
Disclosure about unpaid calls –
(Rs. In Million)
|
Unpaid Calls |
31.03.2014 |
|
By Directors and Officers |
-- |
|
By Others |
0.100 |
No shares have been forfeited by the company during the year.
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 |
2096.107 |
2096.100 |
2096.100 |
|
(b) Reserves & Surplus |
1034.660 |
1146.500 |
1208.100 |
|
(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) |
3130.767 |
3242.600 |
3304.200 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
622.242 |
746.500 |
944.900 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
17.62 |
20.500 |
20.900 |
|
(d) long-term
provisions |
87.087 |
73.500 |
67.800 |
|
Total Non-current
Liabilities (3) |
726.949 |
840.500 |
1033.600 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
22.332 |
11.900 |
0.000 |
|
(b) Trade
payables |
785.520 |
667.500 |
549.000 |
|
(c) Other
current liabilities |
328.187 |
309.100 |
521.400 |
|
(d) Short-term
provisions |
8.358 |
7.300 |
6.800 |
|
Total Current
Liabilities (4) |
1144.397 |
995.800 |
1077.200 |
|
|
|
|
|
|
TOTAL |
5002.113 |
5078.900 |
5415.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
2434.253 |
2888.800 |
3305.900 |
|
(ii)
Intangible Assets |
5.007 |
5.900 |
3.200 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1179.422 |
1179.400 |
1218.100 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
339.347 |
17.500 |
15.800 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
3958.029 |
4091.600 |
4543.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
353.631 |
329.100 |
367.500 |
|
(c) Trade
receivables |
484.452 |
400.900 |
365.900 |
|
(d) Cash
and cash equivalents |
85.985 |
80.700 |
47.200 |
|
(e)
Short-term loans and advances |
88.908 |
140.700 |
60.100 |
|
(f) Other
current assets |
31.108 |
35.900 |
31.300 |
|
Total
Current Assets |
1044.084 |
987.300 |
872.000 |
|
|
|
|
|
|
TOTAL |
5002.113 |
5078.900 |
5415.000 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
3702.623 |
3359.700 |
3033.500 |
|
|
|
Other Income |
13.617 |
7.900 |
26.200 |
|
|
|
TOTAL |
3716.240 |
3367.600 |
3059.700 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1452.267 |
1309.900 |
1314.700 |
|
|
|
Purchases of Stock-in-Trade |
832.211 |
679.100 |
583.900 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
20.663 |
16.100 |
15.700 |
|
|
|
Employees benefits expense |
435.237 |
396.800 |
349.700 |
|
|
|
Power and Fuel |
74.145 |
0.000 |
0.000 |
|
|
|
Travelling Expenses |
57.405 |
0.000 |
0.000 |
|
|
|
Selling and Distribution Expenses |
160.589 |
0.000 |
0.000 |
|
|
|
Other expenses |
204.251 |
499.700 |
479.700 |
|
|
|
Extraordinary Items - Income |
0.000 |
(29.000) |
(30.800) |
|
|
|
TOTAL |
3236.768 |
2872.600 |
2712.900 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
479.472 |
495.000 |
346.800 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
86.330 |
98.900 |
116.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
393.142 |
396.100 |
230.700 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
385.949 |
457.700 |
457.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
7.193 |
(61.600) |
(226.700) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.370 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
5.823 |
(61.600) |
(226.700) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Exports of Goods on F.O.B. basis |
NA |
1089.800 |
986.000 |
|
|
TOTAL EARNINGS |
NA |
1089.800 |
986.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
469.100 |
518.100 |
|
|
|
Stock -in -trade |
NA |
17.100 |
50.500 |
|
|
|
Capital Goods |
NA |
0.000 |
6.300 |
|
|
TOTAL IMPORTS |
NA |
486.200 |
574.900 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.002 |
(0.150) |
(0.490) |
|
Expected Sales ( 2015-2016 ) : Rs.4100.000 Million
The above information has been parted by Mr. Rajiv Jain
CURRENT MATURITIES
OF LONG TERM BORROWINGS DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term borrowings |
NA |
131.900 |
165.100 |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.16 |
(1.83) |
(7.47) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
12.95 |
14.73 |
11.43 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.19 |
(1.58) |
(5.40) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
(0.02) |
(0.07) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.21 |
0.23 |
0.29 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.91 |
0.99 |
0.81 |
STOCK
PRICES
|
Face Value |
Rs.2.00/- |
|
Market Value |
Rs.11.85/- |
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 |
2096.100 |
2096.100 |
2096.107 |
|
Reserves & Surplus |
1208.100 |
1146.500 |
1034.660 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
3304.200 |
3242.600 |
3130.767 |
|
|
|
|
|
|
long-term borrowings |
944.900 |
746.500 |
622.242 |
|
Short term borrowings |
0.000 |
11.900 |
22.332 |
|
Total borrowings |
944.900 |
758.400 |
644.574 |
|
Debt/Equity ratio |
0.286 |
0.234 |
0.206 |
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 |
3033.500 |
3359.700 |
3702.623 |
|
|
|
10.753 |
10.207 |
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 |
3033.500 |
3359.700 |
3702.623 |
|
Profit/Loss |
(226.700) |
(61.600) |
5.823 |
|
|
(7.47%) |
(1.83%) |
0.16% |
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 |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
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 |
Yes |
|
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 |
--- |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2015 (Rs. In Million) |
31.03.2014 (Rs. In Million) |
|
Claim against the Company not acknowledged as debts |
NA |
114.400 |
|
Guarantees |
NA |
0.900 |
|
Other money for which company is contingently liable |
NA |
147.700 |
|
Arrears of Fixed Cumulative Dividends on Preference Shares |
NA |
59.300 |
|
Bills discounted with banks |
NA |
12.600 |
|
Total |
NA |
334.900 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10568955 |
28/04/2015 |
637,000.00 |
PUNJAB NATIONAL BANK |
PARWANOO-2912, HIMACHAL PRADESH,
HIMACHAL PRADESH |
C53423471 |
|
2 |
10485469 |
27/02/2012 |
950,000.00 |
THE KARUR VYSYA BANK LIMITED |
B 3, LAWERENCE ROAD, DELHI,
DELHI - 110035, INDIA |
B39243274 |
|
3 |
10344030 |
10/02/2012 |
10,783,948.00 |
THE ORIENTAL INSURANCE COMPANY
LIMITED |
ORIENTAL HOUSE, POST BAG NO.
7037, A- 25/27, ASAF |
B35754480 |
|
4 |
10345702 |
10/02/2012 |
113,134,000.00 |
THE KARUR VYSYA BANK LIMITED |
CENTRAL PROCESSING CELL
REPRESENT FORT MUMBAI BR, |
B36353001 |
|
5 |
10342382 |
10/02/2012 |
300,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
FLOOR 21, CENTRE ONE BUILDING,
WORLD TRADE CENTRE, |
B35095363 |
|
6 |
10342331 |
10/02/2012 |
464,310,000.00 |
UCO BANK |
FLAGSHIP CORPORATE CENTRE, 5,
PARLIAMENT STREET, |
B35071026 |
|
7 |
80025870 |
10/01/2003 |
5,000,000.00 |
THE SARASWAT CO-OP. BANK LIMITED |
WORLI BRANCH, MUMBAI,
MAHARASHTRA - 400018, INDIA |
- |
|
8 |
80025869 |
08/01/2003 |
150,000,000.00 |
SICOM LIMITED |
NIRMAL, FIRST FLOOR, NARIMAN
POINT, MUMBAI, MAHAR |
- |
|
9 |
90169748 |
13/01/2003 * |
150,000,000.00 |
SICOM LIMITED |
NIRMAL 1ST FLOOR, NARIMAN POINT,
MUMBAI, MAHARASH |
- |
|
10 |
80025868 |
23/08/2002 |
150,000,000.00 |
THE KARUR VYSYA BANK LIMITED |
KAMANWALA CHAMBERS, GROUND
FLOOR, SIR P.M. ROAD, |
- |
* Date of charge modification
MANAGEMENT OVERVIEW
[AS ON 31.03.2014]
The company has recorded revenues of Rs. 3367.600 Million during the current financial year against last year revenues of Rs. 3059.700 Million, recording a growth of 10% over the previous year revenues. Operating revenue for the current year at Rs. 3359.700 Million has posted a growth of 10.8% over the last year. Sales revenues of the company are steadily improving over the past few years.
Better planning, improved productivity and the effective cost control have helped the company to substantially improve its operating margins in the current year.
Growth in Active Pharmaceutical Ingredients (API) business has been moderate, though export price realisation was better on account of weak Indian Rupee against US Dollar. Home Diagnostics and branded formulation business has shown significant improvement in their sales revenues recording a growth of 21% and 27% respectively.
Current year's operating surplus of Rs. 466.000 Million has translated into a growth of 48% against last year of Rs. 316.000 Million. Finance cost at Rs. 98.900 Million has come down by 15% against Rs. 116.100 Million incurred in the previous year.
Cash generated during the year stands at Rs. 367.100 Million against Rs. 199.900 Million generated during the last financial year.
The management is committed towards profitable growth of all its business segments by improving their operating and financial performance. It is committed for the timely servicing of its financial obligations.
FIXED ASSETS
- Free hold Land
- Leasehold Land
- Buildings
- Plant and Machinery
- Furniture’s and Fixtures
- Vehicles
- Office Equipment’s
- Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.39 |
|
|
1 |
Rs.98.94 |
|
Euro |
1 |
Rs.70.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
MNJ |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILITY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
--- |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
YES |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
14 |
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.