MIRA INFORM REPORT
|
Report No. : |
348284 |
|
Report Date : |
03.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
MYLAN LABORATORIES LIMITED (w.e.f. 05.10.2011) |
|
|
|
|
Formerly Known
As : |
MATRIX LABORATORIES LIMITTED |
|
|
|
|
Registered
Office : |
Plot No.564/A/22 Road No.92, Jubilee Hills, Hyderabad – 500033,
Telangana |
|
Tel No. : |
91-40-30496666 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
29.11.1984 |
|
|
|
|
Com. Reg. No.: |
36-005146 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.369.510 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231TG1984PLC005146 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDM02247A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCM3491M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Pharmaceutical Ingredients. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Mylan Laboratories Limited is a subsidiary of “MP Laboratories (Mauritius)
Limited” and a part of Mylan Inc, USA. It is an established company
incorporated in the year 1984 having fine track. The company has seen a better improvement in its sales volume as well
as net profitability during 2014. Financial position of the company is sound.
Fundamentals if the company is strong and healthy. Further, the ratings also take into consideration rich experience of
its promoter’s, long establish track record and strong operating efficiency
of the company. Moreover, this rating strength is partially offset by increasing
competition in the international generics market. Trade relations are reported as fair. Business is active. Payment
terms are reported as regular and as per commitments. In view of strong business profile and its established market
position, the subject can be considered good for normal 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) |
|
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 =AA- |
|
Rating Explanation |
High degree of safety and low credit risk. |
|
Date |
07.08.2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION DENIED
Management Non Co-operative (91-40-30496666
/ 23550543)
LOCATIONS
|
Registered Office : |
Plot No.564/A/22 Road No.92, Jubilee Hills, Hyderabad – 500033,
Telangana, India |
|
Tel. No.: |
91-40-30496666 / 23550543 |
|
Fax No.: |
91-40-27700343 / 30866699 |
|
E-Mail : |
nagaraj.bodige@matrixlabsindia.com apisales@maylan.in (APIs) fdfsales@mylan.in (Formulations) careers@mylan.in (Careers) |
|
Website : |
|
|
|
|
|
Factory: |
Located at
|
|
|
|
|
Branch Office 1 : |
7th Floor, Tower 2B, Indiabulls Centre, 841, Senapati Bapat Marg, Elphinstone Road (West), Mumbai – 400021, Maharashtra, India |
|
|
|
|
Branch Office 2 : |
Nirmal, 20th Floor, Nariman Point, Mumbai – 400021, Maharashtra, India |
DIRECTORS
|
Name : |
Mr. Rajiv Malik |
|
Designation : |
Director |
|
Address : |
B - 6B, Gangotri Alaaknanda, New Delhi – 110019, India |
|
Date of Birth/Age : |
12.03.1961 |
|
Qualification : |
Degree in Pharmaceutical Industry |
|
Date of Appointment : |
01.07.2008 |
|
DIN No.: |
00120557 |
|
|
|
|
Name : |
Mr. Rajiv Krishan Luthra |
|
Designation : |
Additional Director |
|
Address : |
3/15, Shanti Niketan, New Delhi - 110021, India |
|
Date of Appointment : |
30.03.2015 |
|
DIN No.: |
00022285 |
|
|
|
|
Name : |
Mr. Mohit Saraf |
|
Designation : |
Additional Director |
|
Address : |
Farm No 2, Kapashera Village, Farm House, Delhi - 110037, India |
|
Date of Appointment : |
30.03.2015 |
|
DIN No.: |
00057284 |
|
|
|
|
Name : |
Ms. Sarada Kalyani Bhagawati |
|
Designation : |
Whole-time Director / CEO |
|
Address : |
H No. 1-1-380 / 38, Ashok Nagar Extension, Hyderabad - 500020, Telangana, India |
|
Date of Appointment : |
01.11.2014 |
|
PAN No.: |
ACXPB3665R |
|
DIN No.: |
02680074 |
|
|
|
|
Name : |
Mr. Rakesh Bamzai |
|
Designation : |
Managing Director / CEO |
|
Address : |
No.79 / 12, Tuisi Sunny Brooks,, Sarjapur Road, Doddakannahalli, Bangalore Rural - 560035, Karnataka, India |
|
Date of Appointment : |
01.11.2014 |
|
PAN No.: |
AANPB2957J |
|
DIN No.: |
06997113 |
KEY EXECUTIVES
|
Name : |
Mr. Nagaraj Goud Bodige |
|
Designation : |
Secretary |
|
Address : |
H. No. 5-14-88, Indiranagar Colony II, APHB Colony, Movlali, Hyderabad - 500040, Telangana, India |
|
Date of Appointment : |
25.07.2011 |
|
PAN No.: |
AGYPB3840P |
|
|
|
|
Name : |
Mr. Sachin |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS
AS ON 24.09.2010
SHAREHOLDING DETAILS FILE ATTACHED
AS ON 24.09.2010
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Nationalized or other banks |
0.01 |
|
Mutual funds |
0.03 |
|
Foreign holdings [Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others] |
0.40 |
|
Bodies corporate |
1.61 |
|
Other top fifty shareholders |
0.20 |
|
Others |
97.75 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pharmaceutical Ingredients. |
||||||||||
|
|
|
||||||||||
|
Products : |
|
||||||||||
|
|
|
||||||||||
|
Brand Names : |
Not Divulged |
||||||||||
|
|
|
||||||||||
|
Agencies Held : |
Not Divulged |
||||||||||
|
|
|
||||||||||
|
Exports : |
|
||||||||||
|
Products : |
Finished Goods |
||||||||||
|
Countries : |
|
||||||||||
|
|
|
||||||||||
|
Imports : |
|
||||||||||
|
Products : |
Raw Material |
||||||||||
|
Countries : |
|
||||||||||
|
|
|
||||||||||
|
Terms : |
|
||||||||||
|
Selling : |
L/C and Credit (30 / 60 / 90 Days) |
||||||||||
|
|
|
||||||||||
|
Purchasing : |
L/C and Credit (30 / 60 / 90 Days) |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
End Users and OEM’s
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
150 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
· DBS Bank Limited, Salarpuria Windsor, No.3, No.10, Ulsoor Road, Ward 78, Bangalore - 560042, Karnataka, India · The Hongkong and Shanghai Banking Corporation Limited, 6-3-1107 and 1108, Raj Bhavan Road, Somajiguda, Hyderabad - 500082, Telangana, India · The Royal Bank of Scotland NV, Maker Maxity, 4 North Avenue, Level 3, BKC, Mumbai - 400051, Maharashtra, India · Export - Import Bank of India, Centre One; World Trade Centre, Cuffe Parade; Mumbai - 400005, Telangana, India |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accounts |
|
Address : |
Gowra Grand, III Floor, 1-8-1-384 and 385, SP Road, Secunderabad –
500003, Telangana, India |
|
PAN No. : |
AACFD3771D |
|
|
|
|
Membership : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding Company : |
MP Laboratories (Mauritius) Limited |
|
|
|
|
Ultimate Holding Company: |
Mylan Inc., USA |
|
|
|
|
Subsidiary Company : |
· Matrix Laboratories (Xiamen) Limited · Jiangsu Matrix Pharmaceutical Chemical Limited · Matrix Laboratories Singapore Pte Limited · Matrix Pharma Group (Xiamen) Limited · Mylan Laboratories Inc · Astrix Laboratories Limited |
|
|
|
|
Fellow Subsidiary Company : |
·
Mylan Pharmaceuticals Inc. ·
Mylan Pharma UK ·
Mylan Pharmaceuticals ULC ·
Mylan Luxembourg 2 S.a.r.l ·
Mylan Seiyaku Limited ·
Mylan Luxembourg 8 S.a.r.l ·
Gerard Laboratories Ltd. ·
Agila Specialties Polska sp. Z.o.o ·
Alphapharm Pty. Limited ·
Farma Plus AS ·
Mylan Pharmaceuticals Private Limited ·
Agila Especialidades Farmaceutica Ltda ·
ArcanaArzneimittel GmbH ·
Mylan Pharma UK Limited ·
Agila Specialties Global Pte. Limited ·
Mylan Technologies, Inc. ·
Mylan Pharmaceuticals ULU ·
Mylan S.A.S. ·
Onco Laboratories Limited ·
Mylan New Zealand Limited ·
Agila Specialties Inc. ·
Xixia Pharmaceuticals (Pty) Limited ·
Mylan Ireland Holdings Limited ·
Mylan Ireland Limited ·
Mylan S.p.A |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
325000000 |
Equity Shares |
Rs.2/- each |
Rs.650.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
184756858 |
Equity Shares |
Rs.2/- each |
Rs.369.514 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 |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
369.510 |
312.680 |
312.680 |
|
(b) Reserves & Surplus |
41421.410 |
24554.940 |
18223.520 |
|
(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) |
41790.920 |
24867.620 |
18536.200 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
60339.510 |
6916.340 |
5218.080 |
|
(b) Deferred tax liabilities (Net) |
4010.940 |
2018.230 |
1628.280 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
221.290 |
184.440 |
126.380 |
|
Total Non-current
Liabilities (3) |
64571.740 |
9119.010 |
6972.740 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
5399.010 |
10009.800 |
6828.490 |
|
(b) Trade
payables |
16111.710 |
11399.810 |
8550.780 |
|
(c) Other
current liabilities |
15591.660 |
4705.640 |
4724.910 |
|
(d) Short-term
provisions |
428.300 |
463.920 |
304.420 |
|
Total Current
Liabilities (4) |
37530.680 |
26579.170 |
20408.600 |
|
|
|
|
|
|
TOTAL |
143893.340 |
60565.800 |
45917.540 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
26772.180 |
16954.720 |
13493.140 |
|
(ii)
Intangible Assets |
35426.620 |
1044.410 |
54.520 |
|
(iii)
Capital work-in-progress |
2562.500 |
1314.260 |
1098.010 |
|
(iv)
Intangible assets under development |
7646.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
24.880 |
536.410 |
2451.210 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3661.240 |
1765.830 |
898.200 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
76093.420 |
21615.630 |
17995.080 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
1539.150 |
0.000 |
0.000 |
|
(b)
Inventories |
24704.120 |
17572.250 |
12967.350 |
|
(c) Trade
receivables |
22549.750 |
12692.880 |
10502.480 |
|
(d) Cash
and cash equivalents |
3183.850 |
2042.000 |
39.760 |
|
(e)
Short-term loans and advances |
5365.500 |
3111.900 |
1705.910 |
|
(f) Other
current assets |
10457.550 |
3531.140 |
2706.960 |
|
Total
Current Assets |
67799.920 |
38950.170 |
27922.460 |
|
|
|
|
|
|
TOTAL |
143893.340 |
60565.800 |
45917.540 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
69783.950 |
53920.770 |
39523.870 |
|
|
|
|
Other Income |
2495.730 |
2059.810 |
448.900 |
|
|
|
|
TOTAL |
72279.680 |
55980.580 |
39972.770 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of materials consumed |
39270.100 |
29044.530 |
20724.650 |
|
|
|
|
Purchases of stock-in-trade |
972.540 |
1321.230 |
848.850 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(3185.570) |
(1559.540) |
(867.610) |
|
|
|
|
Employee benefit expense |
4058.510 |
2918.400 |
2225.330 |
|
|
|
|
Other expenses |
16935.600 |
12220.950 |
8876.130 |
|
|
|
|
Exceptional items |
(2983.770) |
1914.800 |
130.640 |
|
|
|
|
TOTAL |
55067.410 |
45860.370 |
31937.990 |
|
|
|
|
|
|
|
||
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
17212.270 |
10120.210 |
8034.780 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES |
2484.620 |
630.160 |
575.690 |
||
|
|
|
|
|
|
||
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
14727.650 |
9490.050 |
7459.090 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION |
3461.790 |
964.650 |
779.260 |
||
|
|
|
|
|
|
||
|
|
PROFIT BEFORE
TAX |
11265.860 |
8525.400 |
6679.830 |
||
|
|
|
|
|
|
||
|
Less |
TAX |
2816.780 |
3329.970 |
1987.400 |
||
|
|
|
|
|
|
||
|
|
PROFIT AFTER TAX |
8449.080 |
5195.430 |
4692.430 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Exports at F.O.B. value |
55052.740 |
44478.270 |
34171.130 |
|
|
|
|
Other revenue |
4301.790 |
65.800 |
31.380 |
|
|
|
TOTAL EARNINGS |
59354.530 |
44544.070 |
34202.510 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
18136.720 |
12974.600 |
9018.10 |
|
|
|
|
Stores & Spares |
694.650 |
371.050 |
205.210 |
|
|
|
|
Capital Goods |
1110.590 |
1117.670 |
884.290 |
|
|
|
TOTAL IMPORTS |
19941.960 |
14463.320 |
10107.600 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
33.02 |
33.23 |
30.01 |
||
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
31.03.2012 (Rs.
In Million) |
|
Current Maturities of Long term debt |
529.360 |
1078.690 |
77.020 |
|
Cash generated from operations |
NA |
NA |
NA |
|
|
6733.470 |
6492.230 |
1955.920 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
12.11 |
9.64 |
11.87 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
24.67 |
18.77 |
20.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
8.43 |
14.52 |
15.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27 |
0.34 |
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability /Networth) |
|
1.59 |
0.72 |
0.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.81 |
1.47 |
1.37 |
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 |
312.680 |
312.680 |
369.510 |
|
Reserves & Surplus |
18223.520 |
24554.940 |
41421.410 |
|
Net
worth |
18536.200 |
24867.620 |
41790.920 |
|
|
|
|
|
|
long-term borrowings |
5218.080 |
6916.340 |
60339.510 |
|
Short term borrowings |
6828.490 |
10009.800 |
5399.010 |
|
Current Maturities of Long
term debt |
77.020 |
1078.690 |
529.360 |
|
Total
borrowings |
12123.590 |
18004.830 |
66267.880 |
|
Debt/Equity
ratio |
0.654 |
0.724 |
1.586 |
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 |
39523.870 |
53920.770 |
69783.950 |
|
|
|
36.426 |
29.419 |
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
|
39523.870 |
53920.770 |
69783.950 |
|
Profit |
4692.430 |
5195.430 |
8449.080 |
|
|
11.87% |
9.64% |
12.11% |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
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 |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE:
The Registered Office of the company has been shifted from 1-1-151/1,
Sairam Towers, 4th Floor, Alexander Road, Secunderabad – 500003,
Andhra Pradesh, India to the present address w.e.f. 15.03.2011
UNSECURED LOANS:
|
PARTICULARS |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Long Term Borrowings |
|
|
|
Fully convertible debentures others |
50266.900 |
0.000 |
|
Term loans from others |
10054.020 |
6896.330 |
|
Deferred payment liabilities |
18.590 |
20.010 |
|
|
|
|
|
Short Term Borrowings |
|
|
|
Loans repayable on demand from banks |
2.660 |
736.000 |
|
Other loans and advances |
1993.000 |
4809.100 |
|
|
|
|
|
TOTAL |
62335.170 |
12461.440 |
LITIGATION
DETAILS:
|
CASE STATUS INFORMATION SYSTEM
|
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90262350 |
19/09/2003 |
120,000,000.00 |
IDBI Bank Ltd. |
Mahavir House, Baseerbagh, Hyderabad, Andhra Pradesh, India |
- |
|
2 |
90262253 |
24/02/2003 |
5,000,000.00 |
Cooperative Centrale Raiffeisen - Boerenfeenbank B .A. |
Singapore Branch; 77; Robinson Road - 08 - 00, Sia Building, Singapore, Andhra Pradesh - 068896, India |
- |
|
3 |
90262220 |
14/11/2002 |
75,000,000.00 |
Punjab National Bank |
RP Road, Secundrabad, Andhra Pradesh, India |
- |
|
4 |
90260738 |
25/11/1988 |
263,000.00 |
Andhra Pradesh State Financial Corpaoration |
Chirag Ali Lane, Abids, Hyderabad, Andhra Pradesh, India |
- |
|
5 |
90260687 |
11/02/1988 |
3,635,000.00 |
AP State Financial Corporation |
Chirag Ali Lane, Hyderabad, Andhra Pradesh, India |
- |
*Date of modification Charges
FIXED ASSETS:
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Electrical Equipment
· Lab Equipment
· Computer Hardware
· Computer Software
· Goodwill
PRESS RELEASE:
FOREIGN INVESTMENT
BOARD CLEARS MYLAN'S RS 4,960 CRORE FDI PROPOSAL
New Delhi: Foreign Investment Promotion Board (FIPB) on Thursday cleared FDI proposal of Mylan Laboratories entailing a capital inflow of Rs 4,960 crore.
Based on the recommendations of FIPB meeting held on July 13, 2015, Mylan Laboratories Ltd's proposal for Rs 4,960 crore FDI has been recommended for approval of CCEA, a Finance Ministry statement said.
In February, US-based Mylan Inc through its Indian subsidiary Mylan Laboratories Ltd (MLL) had signed a definitive agreement to acquire certain female health care businesses from Famy Care Ltd, a speciality women's health care company with global leadership in generic oral contraceptive products (OCPs) for a total consideration of $800 million.
The Finance Ministry statement said that Mylan had sought approval on behalf of itself and Jai Pharma Ltd (JPL) for issuance of 17,07,330 equity shares of face value of Rs 10 each by JPL to the existing shareholders of Famy Care (including Orizaba) pursuant to demerger.
MLL will acquire entire shareholding of JPL comprising 17,07,330 equity share of face value of Rs 10 each post the demerger and will also consider an option of issuance of non- convertible debentures to Mylan Luxembourg and or Mylan Group BV Netherlands for an amount up to $375 million, it added.
Other proposals cleared by the government include a Rs 600 crore for FDI by Alpha Pharma Healthcare India to transfer 100 per cent of its holding from one group company to another.
Novartis Healthcare and GSK Consumer were also among the companies whose proposals were cleared.
MYLAN TO ACQUIRE FAMY
CARE'S WOMEN'S HEALTH BUSINESS FOR $800 MILLION
New Delhi: Mylan Inc will acquire certain businesses of Mumbai-based Famy Care Ltd, a specialty women's health care company, for a total consideration of $800 million (over Rs 4,940 crore).
US-based Mylan Inc through its Indian subsidiary Mylan Laboratories Ltd has signed a definitive agreement to acquire certain female health care businesses from Famy Care Ltd, a specialty women's health care company with global leadership in generic oral contraceptive products (OCPs), Mylan Inc said in a statement.
The deal envisages payment of $750 million in cash plus additional contingent payments of up to $50 million, it added.
"The acquisition will build on Mylan's existing partnerships with Famy Care in North America, Europe and Australia, and provide Mylan with an enhanced and now vertically integrated platform that will accelerate the company's growth in the important global women's health care space," the company said.
Mumbai-based Famy Care is focused on female reproductive healthcare and is a world leader in supplying a wide range of contraceptive pills, injectables and devices.
It sells products in over 100 countries. It had attracted PE investment from AIF Capital, one of Asia's long-standing independent private equity firms. Mylan said the acquisition of Famy Care's businesses will make it a hormonal contraceptives leader in high-growth emerging markets around the world.
The transaction is expected to close in the second half of 2015, subject to regulatory approvals and certain closing conditions. In 2008, Mylan had formed a partnership with Famy Care, significantly enhancing its presence in the women's healthcare segment in the US and other developed markets.
"With today's acquisition, we are building on this successful partnership and further accelerating our global growth in this important therapeutic area," Mylan CEO Heather Bresch said. As part of the deal, 900 employees of Famy Care will become a part of Mylan, he added.
"We foresee significant opportunities in the women's health care business across developed and emerging markets, and the proposed transaction provides an opportunity for our team to capture the opportunity in an even more effective manner," Famy Care non-executive chairman JP Taparia said.
Shareholders of Famy Care will evaluate and pursue other opportunities in the residual Famy Care business outside of women's healthcare segment, Mr Taparia added.
Mylan said more than 15 per cent of the world's women using
oral contraceptive pills "today use a Famy Care product".
"Famy Care brings us a broad portfolio, strong technical capabilities and
dedicated hormone manufacturing, which complement Mylan's powerful global
commercial footprint and supply chain infrastructure," Mylan president
Rajiv Malik said.
Mylan and Famy Care have an exclusive partnership dating back to 2008, under which Famy Care develops and supplies OCP products to Mylan for distribution to customers in the US and certain other markets.
In the US, Famy Care and Mylan have a portfolio of 12 approved products, with abbreviated new drug applications pending US Food and Drug Administration (FDA) approval for 30 products.
Famy Care is the world's largest producer of generic OCPs, with four manufacturing facilities in India, two of which have been approved by the US drug regulator and the European Union.
Famy Care is the first generics company to have received prequalification from the World Health Organisation for hormonal contraceptives.
This manufacturing base represents one of the lowest cost and largest dedicated to OCPs globally, and brings Mylan strong capabilities in OCP cycles, injectables, IUDs and tubal rings.
The Mumbai-based firm has a strong presence in the private, institutional and non-governmental organisation sectors and markets its products in more than 90 countries around the world.
Under the proposed transaction structure, Famy Care will spin off its female healthcare businesses under a court approved scheme of demerger. After the demerger, Mylan will acquire the shares of the new resulting company.
In December, 2013, Mylan Inc had completed the acquisition of Bangalore-based Stride Arcolab's Agila Specialties division for a total consideration of up to $1.75 billion.
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.65.48 |
|
|
1 |
Rs.101.06 |
|
Euro |
1 |
Rs.72.22 |
INFORMATION DETAILS
|
Information Gathered
by : |
DIP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
|
66 |
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.