MIRA INFORM REPORT
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Report No. : |
347819 |
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Report Date : |
03.11.2015 |
IDENTIFICATION DETAILS
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Name : |
LAURUS LABS PRIVATE LIMITED [w.e.f.21.02.2012] |
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Formerly Known
As : |
APTUIT LAURUS PRIVATE LIMITED [w.e.f.24.07.2007] APTUIT LAURUS LIMITED [w.e.f.19.07.2007] LAURUS LABS LIMITED [w.e.f.12.02.2007] LAURUS LABS PRIVATE LIMITED |
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Registered
Office : |
Plot No. 21, Jawaharlal Nehru Pharma City, Parawada, Visakhapatnam –
531021, Andhra Pradesh |
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Tel. No.: |
91-891-3061222 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
19.09.2005 |
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Com. Reg. No.: |
01-047518 |
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Capital
Investment / Paid-up Capital : |
Rs. 778.400 Million |
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CIN No.: [Company Identification
No.] |
U24239AP2005PTC047518 |
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IEC No.: |
0905017846 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCL1170C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Special Ingredients for use in Nutraceutical, Dietary Supplements and Cosmeceutical Products. |
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No. of Employees
: |
1800 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
A (58) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Maximum Credit Limit : |
USD 10290000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having fine track record. As per Registrar Companies the date of balance sheet (i.e. financial
filed) is shown as 31.03.2015 but documents related to financial for the year
ending 2015 is not available from any source. However, the rating takes into consideration strong financial risk
profile of the company marked by strong networth base and comfortable debt
level in FY14. The management has reported decent growth in its revenue base along
with decent profit margin of 8.55% in the same consecutive year, leading to
healthy and strong financial condition. Trade relations are fair. Business is active. Payment terms are
reported as regular and as per commitments. In view of experienced promoters and various strategic partnerships
with reputed organizations, the subject can be considered good 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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India |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
Not Available |
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Rating |
Not Available |
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Rating Explanation |
Not Available |
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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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Prakash K. |
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Designation : |
Finance Department |
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Contact No.: |
91-40-39804333 |
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Date : |
30.10.2015 |
LOCATIONS
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Registered Office/ Factory
1 : |
Plot No. 21, Jawaharlal Nehru Pharma City, Parawada, Visakhapatnam –
531021, Andhra Pradesh, India |
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Tel. No.: |
91-891-3061222 |
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Fax No.: |
91-891-3061270 |
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E-Mail : |
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Website : |
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Corporate Office: |
2nd Floor, Serene Chambers, Road # 7, Banjara Hills, Hyderabad – 500034, Andhra Pradesh, India |
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Tel. No.: |
91-40-39804333/ 23420500/ 501/ 66594333 |
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Fax No.: |
91-40-39804320 |
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Research and
Development : |
Plot No. DS1, IKP Knowledge Park, Turkapally, Shameerpet Mandal, District Ranga Reddy - 500078, Telangana, India |
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Tel. No.: |
91-40-30413333/ 66433333 |
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Fax No.: |
91-40-23480481 |
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Factory 2 : |
Plot No. 19, 20, 21, APSEZ, Gurajapalem, Atchutapuram, Visakhapatnam - 531011, Andhra Pradesh, India |
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Factory 3 : |
Plot No. 18, JN Pharma City, Parawada, Visakhapatnam - 531021, Andhra Pradesh, India |
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Tel. No.: |
91-891-3072500/ 6682500 |
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Fax No.: |
91-891-3072501 |
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Factory 4 : |
Plot No 25, Lalamkoduru, Atchutapuram, Visakhapatnam - 531011, Andhra Pradesh, India |
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Factory 5 : |
Plot No. 102 and 103, SEZ, Lemarthi, Parwada, Visakhapatnam - 531021, Andhra Pradesh, India |
DIRECTORS
AS ON 25.07.2014
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Name : |
Dr. Satyanarayana Chava |
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Designation : |
Whole-time director |
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Address : |
H. No. 8-2-293/82/A/303, Plot No.303, Road No.25, Jubilee Hills, Hyderabad - 500033, Andhra Pradesh, India |
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Date of Birth/Age : |
10.03.1961 |
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Qualification : |
M Sc, Ph D |
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Experience : |
29 Years |
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Date of Appointment : |
21.01.2006 |
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PAN No.: |
ABWPC2407Q |
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DIN No.: |
00211921 |
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Name : |
Dr. Kalidindi Srihari Raju |
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Designation : |
Whole-time director |
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Address : |
Villa No.3, Aparna Orchids, Izzatnagar, Kondapur, Hyderabad - 500084, Andhra Pradesh, India |
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Date of Birth/Age : |
01.07.1963 |
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Qualification : |
M Sc, Ph D |
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Experience : |
29 Years |
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Date of Appointment : |
24.04.2006 |
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PAN No.: |
ASTPK1009N |
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DIN No.: |
00982034 |
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Name : |
Mr. Venkata Ravi Kumar Vantaram |
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Designation : |
Whole-time director |
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Address : |
Villa No.29, Lalitha Bloom Field, Adj. Oakridge International School, Khajaguda, Hyderabad - 500008, Andhra Pradesh, India |
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Date of Birth/Age : |
01.07.1965 |
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Qualification : |
M Com, FCMA |
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Experience : |
29 Years |
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Date of Appointment : |
30.11.2006 |
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PAN No.: |
ACFPV4907L |
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DIN No.: |
01424180 |
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Name : |
Mr. Rajesh Kumar Dugar |
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Designation : |
Director |
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Address : |
31, Chitrakoot, Altamount Road, Mumbai - 400026, Maharashtra, India |
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Date of Birth/Age : |
01.07.1969 |
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Date of Appointment : |
14.02.2012 |
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DIN No.: |
00307729 |
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Name : |
Dr. Robert Mark Weisskoff |
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Designation : |
Director |
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Address : |
18, Preston Road, Lexington, Massachusetts, 024203227, United States of America |
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Date of Birth/Age : |
22.06.1962 |
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Date of Appointment : |
14.02.2012 |
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DIN No.: |
05122018 |
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Name : |
Mr. Niten Malhan |
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Designation : |
Director |
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Address : |
Flat No. 2705, 27th Floor, North Tower, The Imperial Building, MP Mill compound Tardeo, Mumbai - 400034, Maharashtra, India |
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Date of Appointment : |
29.10.2014 |
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DIN No.: |
00614624 |
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Name : |
Mr. Francis Jackson Wright |
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Designation : |
Director |
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Address : |
10 Greenwich Terrace, 104 Ritch Avenue West, Greenwich, CT, 06831, United States of America |
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Date of Birth/Age : |
24.01.1948 |
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Date of Appointment : |
14.02.2012 |
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DIN No.: |
01609467 |
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Name : |
Mr. Amal Ganguli |
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Designation : |
Director |
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Address : |
J - 6/7, DLF Phase - II, Gurgaon - 122002, Haryana, India |
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Date of Birth/Age : |
17.10.1939 |
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Date of Appointment : |
30.08.2007 |
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DIN No.: |
00013808 |
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Name : |
Mr. Narendra Ostawal |
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Designation : |
Director |
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Address : |
G/601, Gundecha Gardens, Bombay Gas Compound, Lalbaug, Mumbai - 400012, Maharashtra, India |
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Date of Appointment : |
29.10.2014 |
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DIN No.: |
06530414 |
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Name : |
Mr. Conner Town Mulvee |
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Designation : |
Additional Director |
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Address : |
555 West 23rd Street, Apartment S12l, New York, 10011, United States of America |
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Date of Appointment : |
24.03.2015 |
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DIN No.: |
07122602 |
KEY EXECUTIVES
|
Name : |
Mr. Prakash K. |
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Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.07.2014
NOTE: SHAREHOLDING & ALLOTEES DETAILS FILE ATTACHED
ON 25.07.2014
|
Equity Share Breakup |
Percentage of Holding |
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Category |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
30.27 |
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Bodies
corporate |
1.30 |
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Directors
or relatives of directors |
52.34 |
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Other
top fifty shareholders |
15.54 |
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Others
|
0.55 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Special Ingredients for use in Nutraceutical, Dietary Supplements and Cosmeceutical Products. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
· China · European Countries |
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Terms : |
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Selling : |
Cash, Cheque and Credit (30/60/90) |
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Purchasing : |
Cash, Cheque and Credit (30/60/90) |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
1800 (Approximately) |
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Bankers : |
1-7-1, T. Subbarami Reddy Complex, Sardar Patel Road,
Secunderabad - 500003, Andhra Pradesh, India · State Bank of India Overseas Branch, 2nd Floor Rajala Centre Road No.36 Jubilee Hills, Hyderabad - 500033, Andhra Pradesh, India · Bank of Bahrain and Kuwait B.S.C. 6-3-550, L.B. Bhawan, Akashganga, Somajiguda, Hyderabad - 500082, Andhra Pradesh, India · Export-Import Bank of India Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade - 400005, Maharashtra, India · Punjab National Bank 4-1-427, AGM's Office, Bank Street, Hyderabad - 500001, Andhra Pradesh, India · Kotak Mahindra Bank Limited 1-7-1, T. Subbarami Reddy Complex, Sardar Patel Road, Secunderabad - 500003, Andhra Pradesh, India · IDBI Bank Limited 5-9-89/1&2, Chapel Road, Hyderabad - 500001, Telangana, India · HDFC Bank Limited 4TH Floor, 1-10-60/3, Suryodaya, Begumpet, Hyderabad - 500016,
Telangana, India · The Hongkong and Shanghai Banking Corporation Limited 6-3-1107 and 1108, Raj Bhavan Road, Somajiguda, Hyderabad - 500082,
Telangana, India · The Ratnakar Bank Limited Shahupuri, Kolhapur, Kolhapur - 416001, Maharashtra, India · Citibank N. A. 1st Floor, Queens Plaza, Sardar Patel Road, Hyderabad - 500003,
Telangana, India · ICICI Bank Limited Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India |
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Facilities : |
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Financial Institution : |
TATA Capital Limited. One Forbes, Dr. V B Gandhi Marg, Fort, Mumbai - 400001, Maharashtra, India |
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Auditors : |
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Name : |
S.R. Batliboi and Associates Chartered Accountants |
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Address : |
Plot No. 18, Oval Office, ILABS Centre, Software Units Layout,
Hitee City, Madhapur, Hyderabad – 500081, Andhra Pradesh, India |
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Income-tax
PAN of auditor or auditor's firm : |
AABFS3421N |
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Cost Auditors : |
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Name : |
Bharathula and Associates |
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Address : |
G2 GSK Towers, Shanthi Nagar, Bhagameer, Kukatpally, Hyderabad-500072, Telangana |
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Email |
bharathulavenki@gmail.com |
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Memberships : |
- |
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Collaborators : |
- |
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Company which exercises significant influence : |
·
FIL Capital Management (Mauritius) Limited ·
FIL Capital Advisor Trustee Company Private
Limited |
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Subsidiary company : |
Viziphar Biosciences Private Limited [U73100KA2005PTC037593] |
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Company where control exists : |
Laurus Infosystems (India) Private Limited [U72300TG2014PTC092281] |
CAPITAL STRUCTURE
AFTER 31.07.2015
Authorised Capital : Rs. 880.000
Million
Issued, Subscribed & Paid-up Capital : Rs. 823.692
Million
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
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|
20,899,496 |
Equity Shares |
Rs. 10/- each |
Rs. 208.995 Million |
|
6,900,000 |
Preference Shares [Series A] |
Rs. 10/- each |
Rs. 69.000 Million |
|
2,477,387 |
Preference Shares [Series B] |
Rs. 243/- each |
Rs. 602.005 Million |
|
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Total |
|
Rs. 880.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15,379,755 |
Equity Shares |
Rs. 10/- each |
Rs. 153.798 Million |
|
2,259,060 |
Preference Shares [Series A] |
Rs. 10/- each |
Rs. 22.591 Million |
|
2,477,387 |
Preference Shares [Series B] |
Rs. 243/- each |
Rs. 602.005 Million |
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Total |
|
Rs. 778.400
Million |
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 |
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(1)Shareholders' Funds |
|
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(a) Share Capital |
778.400 |
777.010 |
777.010 |
|
(b) Reserves & Surplus |
2824.810 |
1815.980 |
914.850 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
3603.210 |
2592.990 |
1691.860 |
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(3)
Non-Current Liabilities |
|
|
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(a) Long-term borrowings |
1881.720 |
687.030 |
363.370 |
|
(b) Deferred tax liabilities (Net) |
128.260 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
41.810 |
|
(d)
long-term provisions |
39.330 |
28.010 |
17.730 |
|
Total
Non-current Liabilities (3) |
2049.310 |
715.040 |
422.910 |
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(4) Current Liabilities |
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(a)
Short term borrowings |
3121.840 |
1778.420 |
1289.880 |
|
(b)
Trade payables |
2274.510 |
1322.410 |
968.350 |
|
(c)
Other current liabilities |
1641.160 |
569.010 |
718.750 |
|
(d)
Short-term provisions |
80.380 |
57.060 |
59.750 |
|
Total
Current Liabilities (4) |
7117.890 |
3726.900 |
3036.730 |
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TOTAL |
12770.410 |
7034.930 |
5151.500 |
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II.
ASSETS |
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|
(1) Non-current assets |
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(a)
Fixed Assets |
|
|
|
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(i)
Tangible assets |
4940.130 |
2342.640 |
1862.530 |
|
(ii)
Intangible Assets |
46.780 |
12.890 |
2.870 |
|
(iii)
Capital work-in-progress |
1160.990 |
727.810 |
321.150 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
4.550 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
118.200 |
97.000 |
|
(d) Long-term Loan
and Advances |
694.610 |
328.500 |
92.360 |
|
(e)
Other Non-current assets |
230.510 |
196.240 |
131.020 |
|
Total
Non-Current Assets |
7077.570 |
3726.280 |
2506.930 |
|
|
|
|
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(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
3280.970 |
1561.900 |
986.320 |
|
(c)
Trade receivables |
1948.750 |
1566.960 |
1483.140 |
|
(d)
Cash and cash equivalents |
149.660 |
26.690 |
43.440 |
|
(e)
Short-term loans and advances |
252.460 |
124.180 |
78.170 |
|
(f)
Other current assets |
61.000 |
28.920 |
53.500 |
|
Total
Current Assets |
5692.840 |
3308.650 |
2644.570 |
|
|
|
|
|
|
TOTAL |
12770.410 |
7034.930 |
5151.500 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
REVENUE [NET] |
11597.000 |
7185.000 |
4507.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
2206.000 |
1499.000 |
794.000 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
639.000 |
412.000 |
396.000 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1567.000 |
1087.000 |
398.000 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
329.000 |
226.000 |
183.000 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1238.000 |
861.000 |
215.000 |
|
|
|
|
|
|
|
Less |
TAX |
247.000 |
(21.000) |
0.000 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
991.000 |
882.000 |
215.000 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
Basic |
64.80 |
57.88 |
19.45 |
|
|
Diluted |
48.86 |
43.41 |
9.64 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
12000.000 |
|
|
|
|
|
The above information has been parted by Mr. Prakash (Finance
Department)
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
437.000 |
462.570 |
601.680 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash flow from (used in) Operations |
1752.760 |
738.540 |
34.370 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
8.55 |
12.28 |
4.77 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
19.02 |
20.86 |
17.62 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.67 |
13.91 |
4.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34 |
0.33 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.51 |
1.13 |
1.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.80 |
0.89 |
0.87 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT
EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
777.010 |
777.010 |
778.400 |
|
Reserves & Surplus |
914.850 |
1815.980 |
2824.810 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1691.860 |
2592.990 |
3603.210 |
|
|
|
|
|
|
Long-term borrowings |
363.370 |
687.030 |
1881.720 |
|
Short term borrowings |
1289.880 |
1778.420 |
3121.840 |
|
Current maturities of long-term debts |
601.680 |
462.570 |
437.000 |
|
Total
borrowings |
2254.930 |
2928.020 |
5440.560 |
|
Debt/Equity ratio |
1.333 |
1.129 |
1.510 |
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) |
|
Revenue [Net] |
4507.000 |
7185.000 |
11597.000 |
|
|
|
59.419 |
61.406 |
NET
PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Revenue [Net] |
4507.000 |
7185.000 |
11597.000 |
|
Profit |
215.000 |
882.000 |
991.000 |
|
|
4.77% |
12.28% |
8.55% |
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 |
Yes |
|
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
Yes |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10555574 |
19/03/2015 |
20,450,000.00 |
The Hongkong And
Shanghai Banking Corporation Limited |
6-3-1107 & 1108,
Raj Bhavan Road, Somaji Guda, Hyderabad
- 500082, Telangana, India |
C46966628 |
|
2 |
10557467 |
21/08/2015 * |
1,450,000,000.00 |
Punjab National
Bank |
4-1-427, Agm's
Office, Bank Street, Hyderabad - 500001, Telangana, India |
C64130958 |
|
3 |
10522636 |
21/08/2015 * |
14,418,200,000.00 |
State Bank of
India |
Overseas Branch,
2nd Floor Rajala Centre Road No. |
C62086202 |
|
4 |
10511813 |
21/08/2015 * |
500,000,000.00 |
IDBI Bank
Limited |
5-9-89/1 &
2, Chapel Road, Hyderabad, Telangana - 500001, India |
C64330087 |
|
5 |
10509809 |
24/06/2014 |
500,000,000.00 |
HDFC Bank
Limited |
4th Floor,
1-10-60/3, Suryodaya, Begumpet, Hyderabad - 500016, Telangana, India |
C11876349 |
|
6 |
10503289 |
10/06/2014 |
600,000,000.00 |
The Hongkong and
Shanghai Banking Corporation Limited |
6-3-1107 &
1108, Raj Bhavan Road, Somaji Guda, Hyderabad - 500082, Telangana, India |
C06792279 |
|
7 |
10496476 |
30/05/2014 |
500,000,000.00 |
The Ratnakar
Bank Limited |
Shahupuri,
Kolhapur, Kolhapur-416001, Maharashtra, India |
C05080049 |
|
8 |
10486674 |
21/08/2015 * |
450,000,000.00 |
State Bank of
Hyderabad |
Industrial
Finance Branch, Topaz Building, Amrutha Hills, Punjagutta, Hyderabad -
500082, Telangana, India |
C64378649 |
|
9 |
10468024 |
21/08/2015 * |
490,000,000.00 |
Export-Import
Bank of India |
Centre One
Building, Floor 21, World Trade Centre |
C64711989 |
|
10 |
10449850 |
06/09/2013 |
225,300,000.00 |
ICICI Bank
Limited |
Landmarkrace
Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India |
B85312635 |
* Date of charge modification
CHANGE OF ADDRESS
The Registered Office of the Company has been shifted from
2nd Floor, Serene Chambers, Road No.7, Banjara Hills, Hyderabad - 500034,
Andhra Pradesh, India to the present address.
BUSINESS OPERATIONS
During the year the Company achieved:
· Growth of 61 % revenue, 47 % EBITDA and 44 % PBT over previous year
· Development of 8 API Products totaling to 45 commercialised Products
· Filing of 1 drug master file totaling to 24 products and validated 3 drug master files owned by customers
· Filing of 25 patents totaling to 93 patents
· Expansion of 3 additional production blocks with a capex of around Rs.1.30 Billion in the existing manufacturing facility situated in JNPC,
· Visakhapatnam
· Construction of another large scale manufacturing facility in JNPC, Visakhapatnam, which will be operational from June 2014
· Acquisition of two pieces of land admeasuring 45.00 and 44.30 acres in Acthuthapuram, Visakhapatnam for future expansion.
· Infusion of equity of Rs.3.00 Billion into the Company by one of the world renowned private equity firm and the same is going to be completed shortly
·
Acquisition of Viziphar Biosciences Private
Limited as wholly owned subsidiary in order to enter into natural Ingredients
business
OUTLOOK
Business prospects remaining positive because of the growing global demand for generics and opportunities provided by patent expires in developed markets.
The business proportions and synergies forms part of growth
prospects.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
|
|
|
|
Outstanding bank guarantees (excluding performance
obligations) |
46.870 |
0.000 |
|
Bills Discounted |
1634.500 |
886.330 |
|
Demand for direct taxes under appeal # |
10.100 |
10.100 |
|
Demand for indirect taxes under appeal # |
0.000 |
1.650 |
|
Preference Dividend |
0.020 |
0.010 |
|
|
|
|
|
Total |
1691.490 |
898.090 |
|
# Based on
favourable decisions in similar cases, legal opinion taken by the Company,
discussions with the solicitors, etc., the Company believes that there is a
fair chance of decisions in its favour with respect to all the items listed
above and hence no provision has been considered necessary in these respects.
|
||
FIXED ASSETS:
· Land
· Buildings
· Plant and equipment
· Other plant and equipment
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Office equipment
· Computer equipments
·
Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No 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.65.22 |
|
|
1 |
Rs.99.93 |
|
Euro |
1 |
Rs.71.66 |
INFORMATION DETAILS
|
Information
Gathered by : |
KNJ |
|
|
|
|
Analysis Done by
: |
PRT |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
58 |
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
unfavorable 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.