MIRA INFORM REPORT

 

 

Report No. :

320745

Report Date :

04.05.2015

 

IDENTIFICATION DETAILS

 

Name :

KOPRAN LIMITED

 

 

Registered Office :

Parijat House, 1076, Dr. E. Moses Road, Worli, Mumbai - 400018, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

26.04.1958

 

 

Com. Reg. No.:

11-011078

 

 

Capital Investment / Paid-up Capital :

Rs.476.289 Million

 

 

CIN No.:

[Company Identification No.]

L24230MH1958PLC011078

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMK01878C

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

Manufactures and sells pharmaceutical products.

 

 

No. of Employees :

800 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Exist

 

 

Comments :

Subject is an established company having satisfactory track record.

 

General financial position of the company is good.

 

Trade relations are reported as fair. Business is active. Payments terms are reported to be usually correct.

 

The company can be considered for normal for business dealings at usual trade terms and conditions.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CRISIL

Rating

Long term rating: BBB-

Rating Explanation

Moderate degree of safety it carry moderate credit risk.

Date

23rd January 2015

 

Rating Agency Name

CRISIL

Rating

Short term rating: A3

Rating Explanation

Moderate degree of safety it carry higher credit risk.

Date

23rd January 2015

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Manoj Joshi

Designation :

Export and Import Department

Contact No.:

91-22-24964480

Date :

30.04.2015

 

 

LOCATIONS

 

Registered Office :

Parijat House, 1076, Dr. E. Moses Road, Worli, Mumbai - 400018, Maharashtra,  India

Tel. No.:

91-22-24964480-85/ 43661111

Fax No.:

91-22-24950363

E-Mail :

kopran@giasbm01.vsnl.net.in

kopran@bom4.vsnl.net.in

ss@kopran.com

abhinav@kopran.com

kbshetty@kopran.com

Website :

www.kopran.com

 

 

Factory 1 :

Formulation Unit

Village Savroli, Taluka Khalapur, Khopoli, District Raigad – 410202, Maharashtra, India

Tel. No :

91-2192-274500

Fax No :

91-2192-274025

 

 

Factory 2 :

API Unit

K-4, Additional MIDC, Village Birwadi, Mahad – 403201 District Raigad, Maharashtra, India

Tel. No :

91-2145-251101-04

Fax No :

91-2145-251100

 

 

DIRECTORS

 

As on 31.03.2014

 

Name :

Mr. Vishnu N. Khanna

Designation :

Chairman

DIN No.:

00064502

Date of Appointment:

30.04.2007

 

 

Name :

Mr. Susheel G. Somani

Designation :

Director

Qualification :

MSC

 

 

Name :

Mr. Surendra Somani

Designation :

Executive Vice-Chairman

DIN No.:

00600860

Date of Appointment:

11.06.1977

 

 

Name :

Dr. Arvind K.Mehta

Designation :

Director

DIN No.:

01588835

Date of Appointment:

30.04.2007

 

 

Name :

Mr. Ajit Jain

Designation :

Executive Director and Chief Operating Officer

Qualification :

FCA

DIN No.:

00147277

Date of Appointment:

16.10.2006

 

 

Name :

Mr. Amit Rajan

Designation :

Director

Qualification :

M. Tech, (I.I.T. Delhi)

 

 

Name :

Mr. Vijay Kumar Bhandari

Designation :

Director

Qualification :

B.Com(Hons), FCA

 

 

KEY EXECUTIVES

 

Name :

Mr. Sunil Sodhani (Appointed w.e.f.28th May,2014)

Designation :

Company Secretary

 

 

Name :

Mr. Manoj Joshi

Designation :

Export and Import Department

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 31.12.2014

 

Category of Shareholder

No. of Shares

% of holdings

(A) Shareholding of Promoter and Promoter Group

http://www.bseindia.com/include/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/include/images/clear.gifIndividuals / Hindu Undivided Family

5522700

13.44

http://www.bseindia.com/include/images/clear.gifBodies Corporate

11823313

28.77

http://www.bseindia.com/include/images/clear.gifSub Total

17346013

42.20

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

Total shareholding of Promoter and Promoter Group (A)

17346013

42.20

(B) Public Shareholding

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gifMutual Funds / UTI

28890

0.07

http://www.bseindia.com/include/images/clear.gifFinancial Institutions / Banks

1158956

2.82

http://www.bseindia.com/include/images/clear.gifForeign Institutional Investors

300

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

1188146

2.89

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

3828635

9.32

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital up to Rs. 0.100 Million

13093663

31.86

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital in excess of Rs. 0.100 Million

4839582

11.78

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

803437

1.95

http://www.bseindia.com/include/images/clear.gifTrusts

5700

0.01

http://www.bseindia.com/include/images/clear.gifClearing Members

238643

0.58

http://www.bseindia.com/include/images/clear.gifNon Resident Indians

559094

1.36

http://www.bseindia.com/include/images/clear.gifSub Total

22565317

54.90

Total Public shareholding (B)

23753463

57.80

Total (A)+(B)

41099476

100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued

 

 

http://www.bseindia.com/include/images/clear.gif(1) Promoter and Promoter Group

0

0.00

http://www.bseindia.com/include/images/clear.gif(2) Public

0

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

0

0.00

Total (A)+(B)+(C)

41099476

100.00

 

 

Shareholding of securities (including shares, warrants, convertible securities) of persons belonging to the category Promoter and Promoter Group

 

Sl.No.

Name of the Shareholder

Details of Shares held

No. of Shares held

As a %

1

Nupur Somani

2,70,000

0.66

2

Shantanu Somani

1,16,900

0.28

3

Adarsh Somani

1,81,250

0.44

4

Surendra Somani

3,16,075

0.77

5

Anushree Somani

9,000

0.02

6

Varun Somani

2,72,500

0.66

7

Mridula Somani

2,28,900

0.56

8

Suhrid Somani

93,300

0.23

9

Vrinda Somani

9,000

0.02

10

Jaya Somani

2,58,500

0.63

11

Rajendra Somani (Huf)

17,64,750

4.29

12

Rajendra Somani

2,70,500

0.66

13

Somani Kumkum

35,635

0.09

14

Rajendra Somani

2,89,000

0.70

15

Surendra Somani

1,87,000

0.45

16

Vandana Somani

3,25,200

0.79

17

Susheel G. Somani

2,72,000

0.66

18

Susheel Somani

5,99,900

1.46

19

Sarla Seventilal Parekh

6,290

0.02

20

Renuka Vinubhai Bhansali

8,500

0.02

21

Pravina Rameshchandra Virvadia

8,500

0.02

22

Svaraj Trading and Agencies Limited

52,500

0.13

23

Sarvamangal Mercantile Co. Limited

29,02,951

7.06

24

Parijat Shipping And Finale Limited

3,85,209

0.94

25

Morganite Trading Company Limited

1,61,150

0.39

26

Uni Recyclers Private Limited

2,65,395

0.65

27

Practical Financial Services Private Limited

96,900

0.24

28

G.Claridge and Company Limited

3,42,500

0.83

29

Ridhi Sidhi Equifin Private Limited

3,950

0.01

30

Oricon Properties Private Limited

17,61,758

4.29

31

Oricon Properties Private Limited

20,50,000

4.99

32

Debonair Publication Private Limited

1,000

0.00

33

Panorama Finvest Private Limited

38,00,000

9.25

 

Total

1,73,46,013

42.20

 

Details of Locked-in Shares

 

Sl. No.

Name of the Shareholder

No. of Shares

Locked-in Shares as % of
Total No. of Shares

1

Oricon Properties Private Limited

20,50,000

4.99

2

Oricon Properties Private Limited

17,61,758

4.29

 

Total

38,11,758

9.27

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufactures and sells pharmaceutical products.

 

 

Products :

Pharmaceutical Products

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

Pharmaceutical Products

Countries :

·         Middle East

·         Europe

·         Asian Country

·         Gulf Country

·         Far East Country

·         USA

·         UK

·         Switzerland, etc.

 

 

Imports :

 

Products :

--

Countries :

·         China

·         US

·         France

·         Europe

 

 

Terms :

 

Selling :

Cheque and Credit

 

 

Purchasing :

Cheque and Credit

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

OEM’s and End Users

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

800 (Approximately)

 

 

Bankers :

·         State Bank of India

·         The Federal Bank Limited

·         Punjab National Bank

 

 

Facilities :

Secured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Term loans from banks

6.646

27.831

Vehicles finance loans

0.176

1.614

Short-term borrowings

 

 

Cash credit / packing credit *

340.522

158.352

Buyers credit

182.138

85.382

Total

529.482

273.179

 

NOTE:

 

Long-term Borrowings

 

(a) Term loans from Banks include Term Loan of Rs.10.000 Millions(Balance Outstanding) which carries interest base rate +3.50% p.a. and is repayable in 10 equal quarterly installments of Rs.5.000 Millionsfrom April, 2012. current maturities of Rs.10.000 Millionshave been shown under current liabilities. The loan is secured by first mortgage charge on the company's entire fixed assets on pari-passu basis with other working capital consortium banks and second charge on current assets of the company on pari-passu basis.

 

(b) Term loans from Banks include Term Loan of Rs.26.646 Millions(Balance Outstanding) which carries interest base rate +3.50% p.a. and is repayable in 10 equal quarterly installments of Rs.5.000 Millionsfrom June, 2013. current maturities of Rs.20.000 Millionshave been shown under current liabilities The loan is secured by first mortgage charge on the company's entire fixed assets on pari-passu basis with other working capital consortium banks and second charge on current assets of the company on pari-passu basis.

 

(c) Term loans from Banks include Term Loan of Rs.21.108 Millions(Balance Outstanding) which carries interest base rate +3.50% p.a. and is repayable in 8 equal quarterly installments of Rs.75 lacs from june, 2014, and Last Installment of Rs.5.000 Millions. current maturities of Rs. 21.108 Millions- have been shown under current liabilities The loan is secured by first mortgage charge on the company's entire fixed assets on pari-passu basis with other working capital consortium banks and second charge on current assets of the company on paripassu basis.

 

(d) Vehicle finance loan carries interest @ 10.73 to 12.40 % p.a. and is repayable in 35 equal monthly installments. The loans is secured by hypothecation of Vehicles.

 

( e) * Loans from others carries Interest @ 13.50% p.a. and is repayable in 10 equal quarterly Installments from December, 2013. The Loan is secured by personal guarantee and mortgage/ pledge of certain assets of promoters and directors

 

Short-term borrowings

 

*Cash credit / Packing credit facilities availed from banks are secured by hypothecation of inventories and book debts (present and future) also second charge by way of mortgage on all immoveable properties and by way of hypothecation on all the moveable fixed assets of the company both present and future and guaranteed by director / promoter jointly and severally. The said facility is repayable on demand.

 

 

 

Auditors :

 

Name :

Batliboi and Purohit

Chartered Accountants

Address :

Mumbai, Maharashtra, India

 

 

Secretarial Auditors:

GMJ and Associates

Practicing Company Secretaries

 

 

Internal Auditors:

NGS and Company. LLP

Chartered Accountants

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Wholly Owned Subsidiary :

·         Kopran Research Laboratories Limited

·         Kopran (H.K) Limited

·         Kopran Lifesciences Limited

 

 

CAPITAL STRUCTURE

 

As on 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

56250000

Equity Shares

Rs.10/- each

Rs.562.500 Million

13750000

10% Non-convertible Non-cumulative redeemable preference shares

Rs.10/- each

Rs.137.500 Million

 

 

 

 

 

Total

 

Rs.700.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

39052602

Equity Shares

Rs.10/- each

Rs.390.526 Million

8580000

10% Non-convertible Non-cumulative redeemable preference shares

Rs.10/- each

Rs.85.800 Million

 

Less: Calls in-Arrears (Other than Director's)

 

Rs.0.037 Million

 

 

 

 

 

Total

 

Rs.476.289 Million

 

Note:

 

a) Terms / Rights attached to equity Shares

 

The Company has only one class of equity shares having a par value of Rs.10/- per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividends in Indian rupees.

 

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in the proportion to the number of equity shares held by the shareholders.

 

b) Terms of redemption of preference shares

 

55,80,000 10% Non-convertible non-cumulative redeemable preference shares of Rs. 10 each are redeemable at par on 15th March, 2025 or at any time after one year from 31st March, 2012 at the option of the company.

 

10,00,000 10% Non-convertible non-cumulative redeemable preference Shares of Rs. 10 each are redeemable at par on 28th June, 2019 or at any time after one year from 31st March, 2012 at the option of the company.

 

20,00,000 10% Non-convertible non-cumulative redeemable Preference Shares of Rs. 10 each are redeemable at par on 22nd June, 2019 or at any time after one year from 31st March, 2012 at the option of the company.

 

 

c) Shares held by holding/ultimate holding company and/or their subsidiaries/associates

 

None of the shares of the Company are held by the subsidiaries, associates or joint ventures of the company.

 

 

d) Details of shareholders holding more than 5% shares in the company

 

Particular

 

As at 31st March, 2014

Equity Shares of Rs. 10/- each fully paid

Number of Shares

% holding

Ponorama Finvest Private Limited

3800000

9.73%

Sarvamangal Mercantile Company Limited

2902951

7.43%

 

 

 

10% Non-convertible non-cumulative redeemable preference shares of Rs.10 each

 

 

Sarvamangal Mercantile Company Limited

6380000

74.00%

Kopran Laboratories Limited

1000000

12.00%

Susheel G. Somani and Mridula Somani

1200000

14.00%

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

476.289

476.289

476.289

(b) Reserves & Surplus

975.214

804.822

684.192

(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)

1451.503

1281.111

1160.481

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

632.270

694.819

645.862

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

35.469

35.654

31.318

Total Non-current Liabilities (3)

667.739

730.473

677.180

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

522.660

243.734

311.253

(b) Trade payables

354.880

468.333

417.092

(c) Other current liabilities

291.765

205.583

226.914

(d) Short-term provisions

1.435

1.190

1.149

Total Current Liabilities (4)

1170.740

918.840

956.408

 

 

 

TOTAL

3289.982

2930.424

2794.069

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

1026.619

1061.800

1116.022

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

8.393

9.268

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

68.710

68.710

68.710

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

583.121

559.664

543.149

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

1686.843

1699.442

1727.881

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

530.226

367.405

351.470

(c) Trade receivables

546.359

496.098

375.162

(d) Cash and cash equivalents

45.415

36.327

95.155

(e) Short-term loans and advances

481.139

331.152

244.401

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

1603.139

1230.982

1066.188

 

 

 

TOTAL

3289.982

2930.424

2794.069

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

3019.566

2502.192

1989.054

 

Other Income

13.395

17.198

55.624

 

TOTAL (A)

3032.961

2519.390

2044.678

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of materials consumed

1874.962

1582.263

1194.559

 

Purchase of Traded goods

57.807

0.039

4.273

 

Changes in inventories of finished goods and work in progress

(63.628)

(40.806)

69.834

 

Employee benefit expense

229.588

204.824

175.196

 

Other expenses

494.637

412.929

328.357

 

TOTAL (B)

2593.366

2159.249

1772.219

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

439.595

360.141

272.459

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

144.602

118.758

96.627

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)

294.993

241.383

175.832

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

124.601

120.753

114.157

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

170.392

120.630

61.675

 

 

 

 

 

Less

TAX (I)

0.000

0.000

0.000

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-I)   (J)

170.392

120.630

61.675

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

2056.047

1833.710

1235.200

 

TOTAL EARNINGS

2056.047

1833.710

1235.200

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw / Packing materials

896.649

677.766

502.862

 

Capital Goods

0.151

3.873

3.407

 

TOTAL IMPORTS

896.800

681.639

506.269

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

4.36

3.09

1.58

 

 

QUARTERLY RESULTS

 

PARTICULARS

 

30.06.2014

30.09.2014

31.12.2014

Type

1st Quarter

2nd Quarter

3rd Quarter

Net Sales

683.800

794.100

699.900

Total Expenditure

612.100

718.800

629.300

PBIDT (Excl OI)

71.700

75.300

70.600

Other Income

19.400

18.300

10.000

Operating Profit

91.100

93.600

80.600

Interest

29.200

30.400

32.400

Exceptional Items

0.000

0.000

0.000

PBDT

61.900

63.200

48.200

Depreciation

31.600

32.300

33.000

Profit Before Tax

30.300

30.900

15.200

Tax

0.000

0.000

0.000

Provisions and contingencies

0.000

0.000

0.000

Profit After Tax

30.300

30.900

15.200

Extraordinary Items

0.000

0.000

0.000

Prior Period Expenses

0.000

0.000

0.000

Other Adjustments

0.000

0.000

0.000

Net Profit

30.300

30.900

15.200

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

 

Net Profit Margin

PAT / Sales

(%)

5.64

4.82

3.10

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

14.56

14.39

13.70

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

5.30

4.23

2.26

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.12

0.09

0.05

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

0.80

0.73

0.82

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.37

1.34

1.11

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

476.289

476.289

476.289

Reserves & Surplus

684.192

804.822

975.214

Net worth

1160.481

1281.111

1451.503

 

 

 

 

Long-term Borrowings

645.862

694.819

632.270

Short term Borrowings

311.253

243.734

522.660

Total borrowings

957.115

938.553

1154.930

Debt/Equity ratio

0.825

0.733

0.796

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

1989.054

2502.192

3019.566

 

 

25.798

20.677

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

1989.054

2502.192

3019.566

Profit

61.675

120.630

170.392

 

3.10%

4.82%

5.64%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

CURRENT MATURITIES OF LONG TERM DEBTS

 

Particulars

31.03.2014 (Rs. In Millions)

31.03.2013

(Rs. In Millions)

31.03.2012

(Rs. In Millions)

 

 

 

 

Current Maturities of Long Term Debts

132.547

85.382

69.388

 

 

 

 

 

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

Yes

9]

Name of person contacted

Yes

10]

Designation of contact person

Yes

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

Yes

20]

Export / Import details (if applicable)

Yes

21]

Market information

--

22]

Litigations that the firm / promoter involved in

Yes

23]

Banking Details

Yes

24]

Banking facility details

Yes

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

Yes

 

 

LITIGATION DETAILS

 

CASE DETAILS

 

BENCH:-BOMBAY

 

 

Lodging No.:-

ITXAL/676/2011

Filing Date:-

18/05/2011

Reg. No.:-

ITXA/2011/2011

Reg. Date:-

24/08/2011

 

 

Petitioner:-

THE COMMISSIONER OF INCOME TAX CENTRAL

Respondent:-

KOPRAN LIMITED

 

Petn.Adv.:-

J.S. SALUJA (0)

Resp.Adv.:-

ARVIND RATHOD AND COMPANY

 

District:-

MUMBAI

 

 

Bench:-

DIVISION

Status:-

Admitted(Unready)

Category:-

TAX APPEALS

 

Last Date:-

26/07/2012

Stage:-

APPEALS FOR ADMISSION – FRESH [ORIGINAL SIDE MATTERS]

 

Last Coram:-

HON'BLE SHRI JUSTICE S.J. VAZIFDAR

 

HON'BLE SHRI JUSTICE M.S. SANKLECHA

 

 

Act :-

Income Tax Act, 1961

 

 

 

 

FINANCIAL PERFORMANCE

 

Standalone

 

Net revenue from operations on standalone basis increase to Rs.3033.000 Millions as against Rs.2519.400 Millions in the previous year, a growth of 20% . The profit after tax for the current year is Rs.170.400 Millions as against Rs.120.600 Millions in the previous year, a growth of 41%.

 

MANAGEMENT DISCUSSION AND ANALYSIS

 

INDUSTRIAL OVERVIEW

 

The Indian Pharmaceutical Industry has grown to a size of more than 2 billion dollars, while the Global Pharmaceutical Market is nearly 1.3 trillion dollars. The continuing opportunity in Generics due to products going off patent, offers a huge potential to the Indian Pharmaceutical Industry, especially product development and contract manufacturing.

 

India continues to be the largest supplier of Generic products to the Regulated markets like US, Europe, Japan and Australia.

 

FINANCIAL PERFORMANCE AND REVIEW

 

During the year, the company achieved a total revenue of Rs.3032.900 Millions.(Previous Year Rs.2519.300 Millions.) and a Profit before Depreciation, Interest and Tax of Rs.439.600 Millions. (Previous Year: Rs. 360.100 Millions.).The Net Profit is Rs.170.400 Millions. (Previous Year: Rs.120.600 Millions.).

 

There was 41 % increase in profitability of the company during Financial Year 2013-14 in comparison to Previous Year 2012-13. Ratio of domestic and international sales revenue amounted to the ratio of 26:74

 

 

UNSECURED LOAN

 

PARTICULARS

31.03.2014

(Rs. in Millions)

31.03.2013

(Rs. in Millions)

Long-term Borrowings

 

 

Other

80.000

80.000

Inter corporate deposits

Other

545.448

585.374

Total

625.448

665.374

 

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10470926

16/11/2013

100,000,000.00

PUNJAB NATIONAL BANK

8/167, READY MONEY TARRACE, DR. A. B. ROAD, WORLI, MUMBAI, MAHARASHTRA - 400018, INDIA

B93789881

2

10428024

29/04/2013

110,000,000.00

THE FEDERAL BANK LIMITED

MUMBAI-FORT,32,BOMBAY SAMACHAR MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B75858308

3

10421518

30/03/2013

90,000,000.00

THE FEDERAL BANK LIMITED

MUMBAI-FORT,32,BOMBAY SAMACHAR MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B73690273

4

10406606

28/01/2014 *

115,000,000.00

STATE BANK OF INDIA

COMMERCIAL BRANCH, N.G.N. VAIDYA MARG, BANK STREET, HORNIMAN CIRCLE, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B96826433

5

10392397

20/11/2012

30,000,000.00

THE FEDERAL BANK LIMITED

MUMBAI-FORT,32,BOMBAY SAMACHAR MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B64300460

6

10302578

07/06/2014 *

500,000,000.00

THE FEDERAL BANK LIMITED

MUMBAI-FORT,32,BOMBAY SAMACHAR MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

C09684903

7

10058570

04/07/2007

80,000,000.00

CANARA BANK

TAMARIND LANE BR., CALCOT HOUSE,, TAMARIND LANE,,
MUMBAI, MAHARASHTRA - 400023, INDIA

A18114975

8

90243976

10/08/2005

26,000,000.00

STATE BANK OF INDIA

COMMERCIAL BR.;G;N; VAIDYA MARG, MUMBAI, MAHARASHTRA - 400001, INDIA

-

9

90223577

04/05/2005

100,000,000.00

UTI BANK LIMITED

NO.9 MAG ROAD;, BANGALORE, KARNATAKA - 560001, INDIA

-

10

90223225

10/08/2005 *

199,500,000.00

THE FEDERAL BANK LTD

NARIMAN BHAVAN FIRST FLOOR NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA

-

 

* Date of charge modification

 

 

CONTINGENT LIABILITIES:

 

(Rs. in millions)

PARTICULAR

31.03.2014

(Rs. In Millions)

31.03.2013

(Rs. In Millions)

i) Guarantees given by the company's bankers on behalf of the Company

16.959

11.950

ii) Bills discounted with banks

432.886

451.414

iii) Disputed tax matters

 

 

a) Service tax demand disputed in appeal

3.405

3.295

 

b) Excise duty demand disputed in appeal

3.869

4.388

 

c) Demand under drug price control order - 95 ( DPCO – 95 demand disputed in appeal)

59.134

59.134

 

 

UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 31ST DECEMBER, 2014

Part I

(Rs. in million)

 

 

Particulars

Quarter Ended

Nine Months Ended

31.12.2014

30.09.2014

31.12.2014

Unaudited

Unaudited

Unaudited

 

 

 

 

Net Sales / Income from Operations

686.800

774.900

2131.300

Other Operating Income

13.100

19.200

46.500

Total Income from Operations (net)

699.900

794.100

2177.800

Expenditure

 

 

 

Changes in inventories of finished goods, work-in-progress and stock-in-trade

22.300

(63.00)

(53.300)

Cost of material consumed

416.300

569.600

1439.100

Purchase of Stock-in-trade

1.600

4.800

10.700

Employee benefits expense

75.100

67.300

201.600

Depreciation and amortisation expense

33.000

32.300

96.800

Other expenses

114.000

140.100

362.700

Total Expenses

662.300

751.100

2057.600

Profit/ (Loss) from Operations before Other Income, Finance costs and Exceptional items

37.600

43.000

120.200

Other Income

1.200

4.500

6.600

Foreign Exchange Gain / (Loss) (Net)

8.800

13.800

41.700

Profit /(Loss) from before finance costs and Exceptional items

47.600

61.300

168.500

Finance Cost

32.400

30.400

92.100

Profit / (Loss) from ordinary activities after Finance costs but before Exceptional items

15.200

30.900

76.400

Exceptional items

--

--

--

Profit/ (Loss) from before tax

15.200

30.900

76.400

Less: Tax expenses

--

--

--

Net Profit / (Loss) for the period 

15.200

30.900

76.400

Paid-up equity share capital (Face Value of Rs. 10 per share)

411.000

390.500

411.000

Reserve excluding Revaluation reserve as per balance sheet of previous accounting year

--

--

--

Earnings Per Share (EPS) before and after extraordinary items

a) Basic

b) Diluted

 

 

0.38

0.38

 

 

0.79

0.79

 

 

1.94

1.94

 

 

 

 

 

 

 

 

PART II

 

 

 

PARTIULARS OF SHAREHOLDINGS

 

 

 

Public Shareholding

 

 

 

- Number of Shares

23753463

23753463

23753463

- Percentage of Shareholding

57.80%

60.83%

57.80%

Promoters and Promoter Group Shareholding

 

 

 

a) Pledged/Encumbered

 

 

 

- Number of Shares

3352500

3352500

3352500

- Percentage of Shares (as a % of the Total Shareholding of promoter and promoter group)

19.33%

21.92%

19.33%

- Percentage of Shares (as a % of the Total Share Capital of the Company)

8.16%

8.59%

8.16%

b) Non Encumbered

 

 

 

- Number of Shares

13993513

11943513

13993513

- Percentage of Shares (as a % of the Total Shareholding of Promoter and Promoter Group)

80.67%

78.08%

80.67%

- Percentage of Shares (as a % of the Total Share Capital of the Company)

34.05%

30.58%

34.05%

 

 

PARTICULARS

3 Months Ended 31.12.2014

B   INVESTORS COMPLAINTS

 

Pending at the beginning of the quarter

Nil

Received during the quarter

11

Disposed during the quarter

11

Remaining unresolved at the end of the quarter

Nil

 

 

SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED

FOR THE QUARTER ENDED 30TH SEPTEMBER 2014

(Rs. in millions)

Sr.

No.

 

 

Particulars

Quarter Ended

Nine Months Ended

31.12.2014

30.09.2014

31.12.2014

Unaudited

Unaudited

Unaudited

A

Segment Revenue

 

 

 

 

a) Pharmaceutical

714.400

806.400

2218.900

 

b) Consumer Care Division

6.000

6.500

18.600

 

Total

720.400

812.900

2237.500

 

 

 

 

 

 

Less: Inter-Segment Revenue

--

--

--

 

Less: Excise duty

20.500

18.800

59.700

 

Net Sales/Income from Operation

699.900

794.100

2177.800

 

 

 

 

 

B

Segment Results

 

 

 

 

a) Pharmaceutical

52.600

68.200

187.200

 

b) Consumer Care Division

(5.000)

(6.900)

(18.700)

 

Total

47.600

61.300

168.500

 

 

 

 

 

 

Less: Finance Cost

32.400

30.400

92.100

 

Total Profit Before Taxation

15.200

30.900

76.400

 

 

 

 

 

C

Capital Employed

(Segment Assets - Segment Liabilities)

 

 

 

 

a) Pharmaceutical

2149.00

2127.000

2149.000

 

b) Consumer Care Division

65.200

57.300

65.200

 

c) Others (Unallocated)

540.700

541.800

540.700

 

Total

2754.900

2726.100

2754.900

 

 

NOTE

 

1. The above results were reviewed by the Audit Committee and taken on record by the Board of Directors of the Company at it's meeting held on 13th February, 2015 Limited review has been carried out by statutory auditor of the company.


2. The company is in process of technically evaluating useful lives of its fixed assets and componentization thereof vis-a-vis the useful lives stated under Schedule II of the Companies Act, 2013. Pending such evaluation, the company has provided depreciation for the quarter by applying the rates that were applicable for the previous financial year. Its impact is unascertainable at this stage and adjustment shall be carried out in subsequent quarter after finalisation of technical evaluation/componentization.


3. During the quarter the company has issued and alloted 20,50,000 Equity Shares of Rs.10/- each at premium of Rs.56/- per Equity Share and 21,50,000 Convertible Warrants @ Rs.66/- per warrant on preferential basis to Ws. Oricon Properties Limited  convertible into equal number of equity shares within 18 months from 26.11.2014.

4. Auditors observation:


a. Investments and Advances made to Subsidiary Company, Kopran Research Laboratories Ltd (KRLL) as at 31-12-2014 amounting to Rs. 522.097 Million, (as at 31-12-2013 Rs 523.842 Million) are in the opinion of the Auditors doubtful of realisation. In the opinion of the Management, no provision is required to be made because the investment in the Subsidiary Company, KRLL, is long term, for strategic reasons.


5. Figures for the previous accounting period have been regrouped wherever necessary.

 

 

FIXED ASSETS

 

v  Tangible Assets

·         Lease Hold Land

·         Free Hold Land

·         Buildings

·         Plant and Machinery

·         Plant and Machinery

·         Tube Well

·         Office Equipment’s

·         Computers

·         Vehicles

 

 

PRESS RELEASE

 

KOPRAN JUMPS 15% ON SHARES ALLOTMENT TO PROMOTER GROUP CO

 

Moneycontrol Bureau

Investors lapped up shares of Kopran, the pharmaceutical company manufactures both active pharmaceutical ingredients and finished dosage forms, after it allotted equity shares and warrants worth Rs 27.72 crore to its promoter group company. The stock gained as much as 15 percent intraday Thursday.

 

The Corporate Affairs Committee of the company, on November 26, has allotted 20,50,000 equity shares of face value Rs 10 at a premium of Rs 56 each and 21,50,000 warrants at Rs 66 each to be converted in equity shares of face value 10 at a premium of Rs 56 to Oricon Properties Private Limited, a promoter group company.

 

Oricon Properties Private Limited holds 4.51 percent stake in the company, as of September 2014.

 

At 13:01 hours IST, the stock was quoting at Rs 61.05, up Rs 4.60, or 8.15 percent on the BSE.



 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No 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. 62.15

UK Pound

1

Rs. 94.72

Euro

1

Rs. 70.33

 

 

INFORMATION DETAILS

 

Information Gathered by :

PPT

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

JYO

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--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

 

45

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.