MIRA INFORM REPORT
|
Report No. : |
321633 |
|
Report Date : |
11.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
JAGSON PAL PHARMACEUTICALS LIMITED |
|
|
|
|
Registered
Office : |
T-210 J, Shahpur Jat, New Delhi - 110049 |
|
Tel. No.: |
91-11-26494519 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
17.08.1978 |
|
|
|
|
Com. Reg. No.: |
55-009181 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 130.900 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L74899DL1978PLC009181 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
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
: |
Manufacturer of pharmaceutical. |
|
|
|
|
No. of Employees
: |
Not Available [We tried to confirm
the number of employees but no one is ready to part any information from the
company management] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2800000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track. There is a dip in the turnover of the company but profitability seems
to be improved during financial year 2014. It has good financial risk profile
marked by good net worth and comfortable liquidity position. Trade relations reported to be fair. Business is active. Payments are reported to be usually
correct. Subject can be considered 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.
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
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.
INFORMATION DECLINED
MANAGEMENT NON – COOPERATIVE (91-11-26494519)
LOCATIONS
|
Registered Office : |
T-210 J, Shahpur Jat, New Delhi – 110049, India |
|
Tel. No.: |
91-11-26494519 |
|
Fax No.: |
91-11-26494519/24 |
|
E-Mail : |
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|
Website : |
|
|
|
|
|
Factory 1: |
20 K M Mathura Road, Post Office Amar Nagar, Faridabad – 121003, Haryana, India |
|
Tel. No.: |
91-95129-2275952/2275953 |
|
|
|
|
Factory 2: |
Plot No.14,15,16,55,56,57, Sector 5, IIE, Pant Nagar, Rudrapur – 263153, Uttarakhand, India |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. R P S Kochhar |
|
Designation : |
Chairman and Managing Director |
|
|
|
|
Name : |
Mr. Dr. S. K. Goyal |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Govind Deo |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Bharat Sinh |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr. Ishpal Singh Ghai |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Sanjiv Kumar Dudeja |
|
Designation : |
General Manager |
|
|
|
|
Name : |
R. K. Kapoor |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2015
|
Category of Shareholders |
No. of Shares |
Percentage of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
18121320 |
69.17 |
|
|
18121320 |
69.17 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
18121320 |
69.17 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
800 |
0.00 |
|
|
800 |
0.00 |
|
|
|
|
|
|
876616 |
3.35 |
|
|
|
|
|
|
5414953 |
20.67 |
|
|
1429013 |
5.45 |
|
|
355298 |
1.36 |
|
|
79515 |
0.30 |
|
|
84875 |
0.32 |
|
|
190908 |
0.73 |
|
|
8075880 |
30.83 |
|
Total Public shareholding (B) |
8076680 |
30.83 |
|
Total (A)+(B) |
26198000 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
26198000 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of pharmaceutical. |
|
|
|
|
Products : |
-- |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
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|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available [We tried to confirm
the number of employees but no one is ready to part any information from the
company management] |
||||||||||||||||||||||
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Bankers : |
Punjab and Sind Bank
|
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Facilities : |
|
|
Auditors : |
|
|
Name : |
P. P. Thukral and Company Chartered Accountants |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,00,00,000 |
Equity Shares |
Rs.5/- each |
Rs. 150.000 Million |
|
2,00,00,000 |
Unclassified shares |
Rs.5/- each |
Rs. 100.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 250.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,61,98,000 |
Equity Shares |
Rs.5/- each |
Rs. 130.900
Million |
|
|
|
|
|
NOTE:
Detail of Persons
holding more than 5% shares
|
1. Shri Jagmohan Singh Kochhar* |
59,70,576 |
(22,79%) |
|
2. Shri Rajpal Singh Kochhar |
76,41784 |
(29,17%) |
|
3. Mrs. Jasbir Kaur Kochhar |
23,45,600 |
(8,95%) |
* Since Deceased
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 |
130.990 |
130.990 |
130.990 |
|
(b) Reserves & Surplus |
854.897 |
852.724 |
853.704 |
|
(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) |
985.887 |
983.714 |
984.694 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
3.205 |
2.703 |
|
(b) Deferred tax liabilities
(Net) |
40.839 |
41.791 |
39.827 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
40.839 |
44.996 |
42.530 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
359.575 |
330.865 |
346.232 |
|
(b) Trade payables |
50.845 |
65.052 |
81.411 |
|
(c) Other current liabilities |
54.810 |
39.935 |
47.874 |
|
(d) Short-term provisions |
70.615 |
65.452 |
58.254 |
|
Total
Current Liabilities (4) |
535.845 |
501.304 |
533.771 |
|
|
|
|
|
|
TOTAL |
1562.571 |
1530.014 |
1560.995 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
563.808 |
583.167 |
591.154 |
|
(ii) Intangible Assets |
0.300 |
0.300 |
0.300 |
|
(iii) Capital work-in-progress |
23.467 |
23.318 |
9.317 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.005 |
0.005 |
0.005 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
61.851 |
57.791 |
50.914 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
649.431 |
664.581 |
651.690 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
305.891 |
300.684 |
352.162 |
|
(c) Trade receivables |
452.209 |
422.016 |
423.074 |
|
(d) Cash and cash equivalents |
126.042 |
103.434 |
98.807 |
|
(e) Short-term loans and
advances |
28.998 |
39.299 |
35.262 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
913.140 |
865.433 |
909.305 |
|
|
|
|
|
|
TOTAL |
1562.571 |
1530.014 |
1560.995 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
1438.509 |
1664.645 |
1765.139 |
|
|
Other Income |
0.607 |
3.230 |
3.692 |
|
|
TOTAL
(A) |
1439.116 |
1667.875 |
1768.831 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
546.164 |
709.187 |
795.591 |
|
|
Purchases of Stock-in-Trade |
129.490 |
106.951 |
157.228 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(28.594) |
45.484 |
(107.360) |
|
|
Employees benefits expense |
378.344 |
372.546 |
365.073 |
|
|
Other expenses |
306.326 |
329.934 |
388.460 |
|
|
TOTAL
(B) |
1331.730 |
1564.102 |
1598.992 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
107.386 |
103.773 |
169.839 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
53.819 |
51.335 |
43.582 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
53.567 |
52.438 |
126.257 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
28.254 |
27.076 |
25.358 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
25.313 |
25.362 |
100.899 |
|
|
|
|
|
|
|
Less |
TAX (H) |
4.106 |
7.036 |
26.331 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
21.207 |
18.326 |
74.568 |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
314.389 |
313.287 |
273.942 |
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
Proposed Dividend |
13.099 |
13.099 |
13.099 |
|
|
Additional Income tax on
Dividend |
2.226 |
2.125 |
2.125 |
|
|
Transfer to General Reserve |
2.000 |
2.000 |
20.000 |
|
|
Balance
Carried to the B/S |
318.271 |
314.389 |
313.287 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
75.549 |
60.205 |
70.203 |
|
|
TOTAL
EARNINGS |
75.549 |
60.205 |
70.203 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
97.462 |
96.572 |
104.123 |
|
|
TOTAL
IMPORTS |
97.462 |
96.572 |
104.123 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
0.81 |
0.70 |
2.85 |
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2014 |
30.09.2014 |
31.12.2014 |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Audited / UnAudited |
UnAudited |
UnAudited |
UnAudited |
|
Net Sales |
3391.300 |
3296.100 |
3242.900 |
|
Total Expenditure |
3101.700 |
3048.900 |
3056.200 |
|
PBIDT (Excl OI) |
289.600 |
247.200 |
186.700 |
|
Other Income |
3.100 |
2.000 |
0.400 |
|
Operating Profit |
292.700 |
249.200 |
187.100 |
|
Interest |
120.600 |
107.500 |
112.000 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
172.100 |
141.700 |
75.100 |
|
Depreciation |
71.100 |
72.000 |
71.800 |
|
Profit Before Tax |
101.000 |
69.700 |
3.300 |
|
Tax |
30.000 |
33.000 |
0.0.7 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
71.000 |
36.700 |
2.600 |
|
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 |
71.000 |
36.700 |
2.600 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.47 |
1.10 |
4.22 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
7.47 |
6.23 |
9.62 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.64 |
1.68 |
6.50 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.03 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.36 |
0.34 |
0.35 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.70 |
1.73 |
1.70 |
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 |
130.990 |
130.990 |
130.990 |
|
Reserves & Surplus |
853.704 |
852.724 |
854.897 |
|
Net
worth |
984.694 |
983.714 |
985.887 |
|
|
|
|
|
|
long-term borrowings |
2.703 |
3.205 |
0.000 |
|
Short term borrowings |
346.232 |
330.865 |
359.575 |
|
Total
borrowings |
348.935 |
334.070 |
359.575 |
|
Debt/Equity
ratio |
0.354 |
0.340 |
0.365 |
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 |
1765.139 |
1664.645 |
1438.509 |
|
|
|
(5.693) |
(13.585) |
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 |
1765.139 |
1664.645 |
1438.509 |
|
Profit |
74.568 |
18.326 |
21.207 |
|
|
4.22% |
1.10% |
1.47% |
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 |
No |
|
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 |
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 |
No |
OPERATIONS
During the period ended 31st March, 2014 sales of the Company were Rs. 1454.057 Million as compared to Rs. 1703.753 Million for the year ended 31st March, 2013. The profit before tax decreased marginally from 25.362 Million to Rs. 25.313 Million during the year but the net profit of the Company during the year increased to Rs. 21.207 Million from Rs 18.326 Million from the pervious year.
During the year 2013-14 the economy was in consolidation phase. The pharmaceutical industry has also shown promising future ahead. However, the profits were lower due to high materials cost owing to rise in price of materials; higher manpower cost and coverage of newer areas and change of product mix.
The Board is please to place on record that products from the new manufacturing facility are being well received in the domestic and international market and the Company will reap the benefit in coming years.
Management
Discussions and Analysis Report
Global Scenario
Global Pharma Companies are increasingly exploring low cost option to outsource research and manufacturing,
because of emerging slow-down in patented drug sales and high cost of R and D.
Europe is wooing drug makers to develop new medicines for HIV/AIDS, TB and malaria with home grown Companies for its USD 85 bn a year pharma market. EU would provide up to 75% of the cost of research as nonrepayable grant-in-aid to collaborative research. Currently, India's share of the US generic market is 24 per cent in terms of volume and 40 per cent of the new product approvals granted by the US FDA has been to Indian companies. It has established a strong reputation in the global space for being a high quality supplier of affordable generics.
Indian Scenario
The market-based pricing mechanism for the pharmaceutical industry has severely impacted the near term earnings of companies, particularly those with relatively higher dependence on domestic sales. With the National List of Essential Medicines (NLEM) covering almost 20% of the Rs 728000.000 Million domestic formulation business, approximately 15-20% has been shaved-off from the market. Its impact on earnings will be higher, as much of this will directly eat into the margin.
Companies with higher dependence on the Indian market like Indian arm of MNCs, mid-size pharma companies and those with a greater share of acute therapy segments (like 70% of NLEM) will be impacted the most, it added.
The unabated upward movement of the dollar added to the woes, more so with companies having a sizeabledependence on the imported materials.
Outlook
Major Therapeutic
Segments
In 2013-14, the following therapeutic segments majorly contributed to the business of the company:
·Antioxidants
·Hematinics
·Progestogens
·Antibiotics / Antibacterials
·Anti-inflammatory analgesics
The company has rolled-out action plans on a limited number of focus products, with a limited number of doctors. Higher accountability on each member of the field force, coupled with the selective thrust, is expected to increase the prescription share and market share of the company, for 2014-15.
The company has several new products in the pipeline, especially for the specialized usage in gynecology. The roll-out of these products during 2014-15, is expected to not only contribute to the top-line and bottom-line, but garner a higher corporate brand equity, which will be reflected in its increased patronage by the doctor community.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Unsecured, due for more than one year. Intt @ 10 % p.a.( pr year 10% p.a.) |
0.000 |
3.205 |
|
Short-term
borrowings |
|
|
|
Deposits |
102.137 |
34.274 |
|
Total |
102.137 |
37.479 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10249896 |
26/10/2010 |
3,000,000.00 |
PUNJAB & SIND BANK |
H BLOCK, CONNAUGHT
CIRCUS, NEW DELHI, DELHI - 1100 |
A98556079 |
|
2 |
10249872 |
26/10/2010 |
67,000,000.00 |
PUNJAB & SIND BANK |
H BLOCK, CONNAUGHT
CIRCUS, NEW DELHI, DELHI - 1100 |
A98508690 |
|
3 |
10252531 |
26/10/2010 |
319,000,000.00 |
PUNJAB & SIND BANK |
H BLOCK, CONNAUGHT
CIRCUS, NEW DELHI, DELHI - 1100 |
A99830564 |
|
4 |
10017040 |
19/11/2014 * |
399,000,000.00 |
PUNJAB & SIND BANK |
H BLOCK,CONNAUGHT
CIRCUS, NEW DELHI, NEW DELHI, D |
C34221200 |
* Date of charge modification
UNAUDITED FINANCIAL RESULTS
FOR THE QUARTER / HALF YEAR ENDED 30.09.2014
(Rs. In Million)
|
Particulars
|
Quarter Ended ( Unaudited) |
Quarter Ended ( Unaudited) |
Half Year Ended ( Unaudited) |
|
|
30.09.2014 |
30.06.2014 |
30.09.2014 |
|
|
|
|
|
|
1. Income
from operations |
|
|
|
|
a) Net sales/ Income from operation (net of excise duty) |
329.606 |
339.131 |
668.737 |
|
b) Other operating income |
0.000 |
0.000 |
0.000 |
|
Total
income from Operations(net) |
329.606 |
339.131 |
668.737 |
|
2.Expenditure |
|
|
|
|
a) Cost of material consumed |
199.377 |
86.162 |
285.539 |
|
b) Purchases of stock in trade |
34.708 |
20.963 |
55.671 |
|
c) Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
(85.978) |
46.484 |
(39.494) |
|
d) Employees benefit expenses |
75.460 |
89.498 |
164.958 |
|
e) Depreciation and amortization expenses |
7.181 |
7.109 |
14.290 |
|
f) Other expenditure |
81.335 |
67.067 |
148.402 |
|
Total expenses |
312.083 |
317.283 |
629.366 |
|
3. Profit from operations before other income and
financial costs |
17.523 |
21.848 |
39.371 |
|
4. Other income |
0.203 |
0.311 |
0.514 |
|
5. Profit from ordinary activities before finance costs |
17.726 |
22.159 |
39.885 |
|
6. Finance costs |
10.754 |
12.061 |
22.815 |
|
7. Net profit/(loss) from
ordinary activities after finance costs but before exceptional items |
6.972 |
10.098 |
17.070 |
|
8. Exceptional item |
0.000 |
0.000 |
0.00 |
|
9. Profit from ordinary
activities before tax Expense: |
6.972 |
10.098 |
17.070 |
|
10.Tax expenses |
3.300 |
3.000 |
6.300 |
|
11.Net Profit / (Loss) from ordinary activities
after tax (9-10) |
3.672 |
7.098 |
10.770 |
|
12.Extraordinary Items (net
of tax expense) |
0.000 |
0.000 |
0.000 |
|
13.Net Profit / (Loss) for
the period (11 -12) |
3.672 |
7.098 |
10.770 |
|
14.Paid-up equity share capital (Nominal value Rs.10/- per share) |
130.990 |
130.990 |
130.990 |
|
15. Reserve excluding Revaluation Reserves as per balance sheet of previous
accounting year |
-- |
-- |
-- |
|
16.i) Earnings per share
(before extraordinary items) of Rs.10/- each) (not annualised): |
|
|
|
|
(a) Basic |
0.14 |
0.27 |
0.41 |
|
(b) Diluted |
0.14 |
0.27 |
0.41 |
|
Particulars
|
Quarter Ended ( Unaudited) |
Quarter Ended ( Unaudited) |
Half Year Ended ( Unaudited) |
|
|
30.09.2014 |
30.06.2014 |
30.09.2014 |
|
A. Particulars of shareholding |
|
|
|
|
1. Public Shareholding |
|
|
|
|
- Number of shares |
8076680 |
8076680 |
8076680 |
|
- Percentage of shareholding |
30.83 |
30.83 |
30.83 |
|
2. Promoters and Promoters group Shareholding- |
|
|
|
|
a) Pledged /Encumbered |
|
|
|
|
Number of shares |
-- |
-- |
-- |
|
Percentage of shares (as a % of total shareholding of the promoter
and promoter group) |
-- |
-- |
-- |
|
Percentage of shares (as a % of total share capital of the
company) |
-- |
-- |
-- |
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
Number of shares |
18121320 |
18121320 |
18121320 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
100 |
100 |
100 |
|
Percentage of shares (as a % of total share capital of the
company) |
69.17 |
69.17 |
69.17 |
|
|
|
|
|
|
B.
Investor Complaints |
|
|
|
|
Pending at the beginning of the quarter |
0 |
|
|
|
Receiving during the quarter |
34 |
|
|
|
Disposed of during the quarter |
34 |
|
|
|
Remaining unreserved at the end of the quarter |
0 |
|
|
NOTE:
The unaudited Financial Results for the Quarter / Half Year ended 30.09.2014 have been reviewed by the Audit Committee. The Board of Directors has approved the financial Results at its meeting held on 14.11.2014.
The Company is operating only in the Pharmaceuticals segment and hence
compliance has been made under AS-17.
The net effect of the deferred taxation for the Quarter as per AS-22 has been
taken.
Previous year figures have been regrouped / rearranged wherever necessary.
FIXED ASSETS
- Land
- Buildings
- Plant and Equipment
- Vehicles
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.64.05 |
|
|
1 |
Rs.99.04 |
|
Euro |
1 |
Rs.71.76 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--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 |
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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.