MIRA INFORM REPORT
|
Report No. : |
323986 |
|
Report Date : |
22.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
ROOPA INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
17/745, Alur Road, Adoni – 518 301, Kurnool District,
Andhra Pradesh |
|
Mobile : |
91-8096330007 (Mr. Gouse) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
17.06.1985 |
|
|
|
|
Com. Reg. No.: |
01-005582 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 78.655 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L10100AP1985PLC005582 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACR9573J |
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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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|
|
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Line of Business
: |
Manufacturer of Bulk Drugs, Intermediates and Fine Chemicals. |
|
|
|
|
No. of Employees
: |
30 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The rating is constrained due to deterioration in the sales turnover and
operational loss suffered by the company during FY 2014. Further, the company
has low reserves too. However, trade relation are reported to be fair. Business is active.
Payment terms are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating “BB” |
|
Rating Explanation |
Inadequate credit quality and high credit risk |
|
Date |
July 17, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating “A4+” |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
July 17, 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Gouse |
|
Designation : |
Accountant |
|
Contact No.: |
91-8096330007 |
LOCATIONS
|
Registered Office : |
17/745, Alur Road, Adoni – 518 301, Kurnool District, Andhra Pradesh, India |
|
Tel. No.: |
Not Available |
|
Mobile : |
91-8096330007 (Mr. Gouse) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
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|
|
|
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Corporate Office : |
6-2-1012, 3rd Floor, TGV Mansion, Above ICICI Bank,
Khairatabad, Hyderabad – 500 004, Telangana, India |
|
Tel. No.: |
91-40-66624864 |
|
Fax No.: |
91-40-23313875 |
|
E-Mail : |
|
|
|
|
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Factory : |
A3/A4, Phase-IV, IDA, Patancheru Medak District, Hyderabad - 502319, Telangana, India |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. T. G. Raghavendra |
|
Designation : |
Chairman and Managing Director |
|
Address : |
H No.8-2-268/R/15 Navodaya Colony, Banjarahill, Hyderabad – 500034, Telangana, India |
|
Date of Birth/Age : |
02.04.1955 |
|
PAN No.: |
ABAPT1573A |
|
|
|
|
Name : |
Mr. V. J. Sarma |
|
Designation : |
Executive Director |
|
Address : |
601, Sai Pranathi Apartments, 6-3-609/19 Anand Nagar, Khairatabad, Hyderabad – 500004, Telangana, India |
|
Date of Birth/Age : |
10.08.1956 |
|
Qualification: |
Commerce Graduate |
|
PAN No.: |
ACTPV9916D |
|
Date of Appointment
: |
17.03.1997 |
|
|
|
|
Name : |
Mr. R. Madan Mohan Rao |
|
Designation : |
Director |
|
Address : |
13-9-84, Panduranga Nagar, Borabanda, Crragadda, Hyderabad – 500019, Telangana, India |
|
Date of Birth/Age : |
12.06.1951 |
|
|
|
|
Name : |
Mr. M. T. Sreenivasa Rao |
|
Designation : |
Director |
|
Address : |
G-5, B Block 3-4-817, Paragon Venkatadri Apartments, Street No.1, Barakatpura, Hyderabad – 500027, Telangana, India |
|
Date of Birth/Age : |
15.08.1946 |
|
|
|
|
Name : |
Mr. O.D.Reddy |
|
Designation : |
Director |
|
Address : |
12-2-823/A/37, Mehdipatnam, Hyderabad – 500027, Telangana, India |
|
Date of Birth/Age : |
15.03.1938 |
|
Qualification: |
B.Sc., (Agrl) |
|
Date of Appointment
: |
30.04.2007 |
|
|
|
|
Name : |
Ms. K. Suneetha (w.e.f. 14.08.2014) |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Gouse |
|
Designation : |
Accountant |
SHAREHOLDING PATTERN
As on 31.03.2015
|
Category
of Shareholder |
Total No.
of Shares |
Total
Shareholding as a % of Total No. of Shares |
|
As a % of (A+B) |
||
|
(A) Shareholding of Promoter and Promoter Group |
||
|
|
|
|
|
|
864047 |
10.99 |
|
|
2913617 |
37.04 |
|
|
3777664 |
48.03 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
3777664 |
48.03 |
|
(B) Public Shareholding |
||
|
|
|
|
|
|
20000 |
0.25 |
|
|
20000 |
0.25 |
|
|
|
|
|
|
279477 |
3.55 |
|
|
|
|
|
|
1646862 |
20.94 |
|
|
1401709 |
17.82 |
|
|
739808 |
9.41 |
|
|
739808 |
9.41 |
|
|
4067856 |
51.72 |
|
Total Public shareholding (B) |
4087856 |
51.97 |
|
Total (A)+(B) |
7865520 |
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) |
7865520 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Bulk Drugs, Intermediates and Fine Chemicals. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
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|
|
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Agencies Held : |
Not Available |
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|
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Exports : |
Not Divulged |
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|
|
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Imports : |
Not Divulged |
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|
|
|
Terms : |
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Selling : |
Cheque |
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|
|
|
Purchasing : |
Cheque |
PRODUCTION STATUS: Not Available
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers
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No. of Employees : |
30 (Approximately) |
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Bankers : |
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Facilities : |
Notes: LONG TERM
BORROWINGS Term Loan is secured by hypothecation of equipment purchased out of Bank finance and Plant and Machinery and other Fixed assets of the Company. The housing loan is secured by hypothecation of concerned House property purchased out of Bank finance. Further all the Term loans are secured by the guarantee of the Chairman & Managing Director in his individual capacity. Vehicle loan is taken during the year is secured by hypothecation of Vehicle. Repayment schedule in 36 monthly instalments commencing from December, 2013 to November, 2016 Deferred Sales tax loan is interest free repayable in various instalments as per Sales tax deferment scheme. The last instalment is payable in 2020-2021. Term loan repayment in 12 quarterly installments commencing from March, 2012. Housing loan repayment in 78 monthly installments commencing from February, 2008 to July, 2014. SHORT TERM
BORROWINGS: Security for
Secured Loans The working capital loan from Bank and liability for bills discounted are secured by Equitable Mortgage of Land, Buildings and charge on Plant & Machinery, Stock in-Trade, Book debts and are further guaranteed by Promoter in his individual capacity. |
|
Auditors : |
|
|
Name : |
T. Adinarayana and Company Chartered Accountants |
|
Address : |
Hyderabad – 500 001, Andhra Pradesh, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
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|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9000000 |
Equity Shares |
Rs.10/- each |
Rs.90.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7865520 |
Equity Shares |
Rs.10/- each |
Rs. 78.655 Million |
|
|
|
|
|
Reconciliation of the
shares at the beginning and at the end of the reporting period.
(Rs. in Million)
|
Particulars |
Year ended 31" March, 2013 |
|
|
|
Number |
Rs. |
|
Equity shares at the beginning of the year |
7865520 |
78.655 |
|
Add: Shares issued during the year on conversion of warrants |
-- |
-- |
|
Equity shares at
the end of the year |
78,65,520 |
78.655 |
Terms / rights
attached to equity shares
The Company has only one class of equity shares having a face value of Rs.10 per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividend in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. In the event of Liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company. The distribution will be in proportion to the number of equity shares held by the shareholders.
Details of
shareholders holding more than 5% of the total shares
|
S. No. |
Name of Shareholder |
Year ended 31" March, 2013 |
|
|
No. of Shares held |
% of Holding |
||
|
1 |
Star Niochem Private Limited |
14,87,671 |
18.91 |
|
2 |
SRHHL Industries Limited |
13,72,455 |
17.45 |
|
3 |
T. G. Raghavendra |
6,49,075 |
8.25 |
|
|
|
35,09,201 |
44.61 |
Utilisation of share
issue proceeds
|
Particulars |
As at 31" March (Rs.) |
|
|
2014 |
2013 |
|
|
Gross Proceeds of the Issue received upto the year |
-- |
1,28,78,496 |
|
Utilisation of funds upto the year |
-- |
1,28,78,496 |
|
Unutilised amount represented by Fixed Deposit with Bank |
-- |
- |
Reconciliation of the
warrants outstanding at the beginning and at the end of the reporting period
|
Particulars |
Number of Warrants As at 31st March |
|
|
2014 |
2013 |
|
|
Warrants originally issued under Share warrants |
11,21,820 |
11,21,820 |
|
Warrants outstanding at the beginning of the year |
-- |
3,93,276 |
|
Less: Warrants converted into equity shares during the year |
-- |
3,93,276 |
|
Warrants outstanding at the end of the year |
-- |
- |
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 |
78.655 |
78.655 |
74.722 |
|
(b) Reserves &
Surplus |
6.248 |
26.317 |
23.983 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
1.129 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
84.903 |
104.972 |
99.834 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
26.871 |
23.733 |
28.095 |
|
(b) Deferred tax
liabilities (Net) |
7.057 |
6.454 |
5.846 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
2.276 |
2.168 |
1.694 |
|
Total Non-current
Liabilities (3) |
36.204 |
32.355 |
35.635 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
48.067 |
35.326 |
20.961 |
|
(b) Trade payables |
64.109 |
55.462 |
45.698 |
|
(c) Other current
liabilities |
5.271 |
4.815 |
4.076 |
|
(d) Short-term provisions |
0.055 |
0.567 |
1.945 |
|
Total Current Liabilities
(4) |
117.502 |
96.170 |
72.680 |
|
|
|
|
|
|
TOTAL |
238.609 |
233.497 |
208.149 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
81.308 |
70.983 |
70.142 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.240 |
13.714 |
12.831 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.437 |
0.437 |
0.437 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
21.701 |
12.975 |
12.633 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
103.686 |
98.109 |
96.043 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
51.313 |
51.223 |
23.967 |
|
(c) Trade receivables |
68.893 |
71.615 |
66.878 |
|
(d) Cash and cash
equivalents |
5.557 |
5.409 |
12.013 |
|
(e) Short-term loans and
advances |
4.124 |
5.097 |
4.868 |
|
(f) Other current assets |
5.036 |
2.044 |
4.380 |
|
Total Current Assets |
134.923 |
135.388 |
112.106 |
|
|
|
|
|
|
TOTAL |
238.609 |
233.497 |
208.149 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
285.538 |
321.160 |
326.370 |
|
|
Other Income |
0.491 |
1.000 |
0.915 |
|
|
TOTAL (A) |
286.029 |
322.160 |
327.285 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
202.466 |
242.692 |
217.918 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.752 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(3.643) |
(26.198) |
3.998 |
|
|
Employees benefits
expense |
22.198 |
22.864 |
20.087 |
|
|
Other expenses |
66.412 |
64.685 |
59.542 |
|
|
Exceptional Item |
(0.085) |
0.447 |
(0.508) |
|
|
TOTAL (B) |
287.348 |
305.242 |
301.037 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
(1.319) |
16.918 |
26.248 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
12.242 |
8.224 |
12.448 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(13.561) |
8.694 |
13.800 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.902 |
5.671 |
4.972 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
(19.463) |
3.023 |
8.828 |
|
|
|
|
|
|
|
Less |
TAX (H) |
0.605 |
1.271 |
2.581 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
(20.068) |
1.752 |
6.247 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD (J) |
21.911 |
20.159 |
13.912 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S (I+J) |
1.843 |
21.911 |
20.159 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
86.658 |
34.001 |
70.904 |
|
|
TOTAL EARNINGS |
86.658 |
34.001 |
70.904 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
40.865 |
51.137 |
42.378 |
|
|
TOTAL IMPORTS |
40.865 |
51.137 |
42.378 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
(2.55) |
0.22 |
0.88 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
0.016 |
(7.142) |
14.852 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin (PAT / Sales) |
(%) |
(7.03) |
0.55 |
1.91 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
(0.46) |
5.27 |
8.04 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(8.18) |
1.38 |
4.53 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.23) |
0.03 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.88 |
0.56 |
0.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15 |
1.41 |
1.54 |
STOCK PRICES
|
Face Value |
Rs.10.00 |
|
Market Value |
Rs.5.78 |
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 |
74.722 |
78.655 |
78.655 |
|
Reserves & Surplus |
23.983 |
26.317 |
6.248 |
|
Money received against
share warrants |
1.129 |
0.000 |
0.000 |
|
Net worth |
99.834 |
104.972 |
84.903 |
|
|
|
|
|
|
long-term borrowings |
28.095 |
23.733 |
26.871 |
|
Short term borrowings |
20.961 |
35.326 |
48.067 |
|
Total borrowings |
49.056 |
59.059 |
74.938 |
|
Debt/Equity ratio |
0.491 |
0.563 |
0.883 |
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 |
326.370 |
321.160 |
285.538 |
|
|
|
(1.596) |
(11.092) |
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 |
326.370 |
321.160 |
285.538 |
|
Profit |
6.247 |
1.752 |
(20.068) |
|
|
1.91% |
0.55% |
(7.03%) |
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 |
Yes |
|
11] |
Pan Card No. of Proprietor / Partners |
Yes |
|
12] |
Voter Id Card No. of Proprietor / Partners |
No |
|
13] |
Type of business |
Yes |
|
14] |
Line of Business |
Yes |
|
15] |
Export/import details (if applicable) |
No |
|
16] |
No. of employees |
|
|
17] |
Details of sister concerns |
|
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
Yes |
|
21] |
Banking facility details |
Yes |
|
22] |
Conduct of the banking account |
-- |
|
23] |
Financials, if provided |
Yes |
|
24] |
Capital in the business |
Yes |
|
25] |
Last accounts filed at ROC, if applicable |
Yes |
|
26] |
Turnover of firm for last three years |
Yes |
|
27] |
Reasons for variation <> 20% |
-- |
|
28] |
Estimation for coming financial year |
No |
|
29] |
Profitability for last three years |
Yes |
|
30] |
Major shareholders, if available |
Yes |
|
31] |
External Agency Rating, if available |
Yes |
|
32] |
Litigations that the firm/promoter
involved in |
-- |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
Yes |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
FINANCIAL RESULTS:
The Company achieved revenue from operations (Net) of Rs.285.538 Million during 2013-14 as against revenue from operations (Net) of Rs. 321.160 Million during 2012-13. The Profit / (Loss) before Interest, Depreciation and Tax during the year is Rs. (8.398) Million as against Rs.12.741 Million during 2012- 13. The scarcity of power supply, its increased costs and recession in market were the main adverse factors caused for poor financial performance of the Company.
However, during the year the Company has concentrated on development of new products and the company is poised for new opportunities for accelerated growth. Hence there is need for ploughing back internal accruals for augmenting the working capital requirement and defer dividend.
MANAGEMENT’S DISCUSSION
& ANALYSIS
Industry Structure
and Developments:
The Global Generics Pharmaceutical Industry is at the threshold of a new era-one that poses obstacles and opportunities alike for Western multinationals and generics manufacturers based in emerging markets such as India. As Indian companies rapidly penetrate Western markets - a move welcomed by many public and private healthcare players - the country has taken an integral role in shaping the future of the global generics industry. At the same time, Indian companies are increasing their focus on research and development of innovative drugs and delivery systems.
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
LONG TERM
BORROWINGS |
|
|
|
From Other |
26.871 |
21.850 |
|
Total |
26.871 |
21.850 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10155728 |
19/02/2013 * |
78,200,000.00 |
STATE BANK OF INDIA |
SME BRANCH, SAIFABAD, HACA BHAVAN, HYDERABAD, ANDHRA PRADESH - 500004, INDIA |
B69718229 |
|
2 |
10108746 |
30/11/2007 |
3,700,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, VADODARA, GUJARAT - 390015, INDIA |
A40716904 |
|
3 |
90118742 |
13/08/2003 * |
10,000,000.00 |
DENA BANK |
BANK STREET ; KOTI, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
* Date of charge modification
CONTINGENT LIABILITIES
AND COMMITMENTS:
The disclosure required by Accounting Standard (AS-29) ‘Provisions and Contingent liabilities, prescribed by the
Companies (Accounting Standards) Amendment Rules, 2006 are as follows:
- Unexpired Letters of Credit: Rs.19.886 Million (previous year Rs.22.324 Million)
- Unexpired Bank Guarantee: Rs.1.000 Million (previous year Rs.1.000 Million)
- Income tax case pending in Andhra Pradesh High Court : Rs. 1.308 Million.
- Appeal filed by Company for higher compensation for Land under the Chairmanship of Joint Collector, Anantapur
FIXED ASSETS
- Land Building
- Plant and Equipments
- Furniture and Fixtures
- Vehicles
- Office Equipments
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. 63.70 |
|
|
1 |
Rs. 98.92 |
|
Euro |
1 |
Rs. 70.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
MNJ |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.