MIRA INFORM REPORT
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Report No. : |
350175 |
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Report Date : |
18.11.2015 |
IDENTIFICATION DETAILS
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Name : |
JUBILANT LIFE SCIENCE LIMITED (w.e.f.01.10.2010) |
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Formerly Known
As : |
JUBILANT ORGANOSYS LIMITED |
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Registered
Office : |
Bhartiagram, Gajraula, Jyotiba Phoolay Nagar – 244223, Uttar Pradesh |
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Tel. No.: |
91-5924-252351-60 |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Date of Incorporation
: |
21.06.1978 |
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Com. Reg. No.: |
20-004624 |
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Capital
Investment / Paid-up Capital : |
Rs.159.300 Million |
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CIN No.: [Company Identification
No.] |
L24116UP1978PLC004624 |
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IEC No.: |
0588001651 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MRTJ00275C |
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PAN No.: [Permanent Account No.] |
AABCV0200H |
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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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Line of Business
: |
Subject is a
global Pharmaceutical and Life Sciences player engaged in manufacture and
supply of Generics (Including Active Pharmaceuticals Ingredients (APIs) and
Solid Dosage Formulations) and Life Science Ingredients (Including Proprietary
Products and Exclusive Synthesis, Nutrition Ingredients and Life Sciences
Chemicals). |
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No. of Employees
: |
6085 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
A (70) |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1978 which is engaged in
manufacturing and supplying of application program interface (APIs), solid dosage
formulations, radiopharmaceuticals, allergy therapy products and life science
ingredients. The company also provides services in contract manufacturing of
sterile injectable and drug discovery solutions. For the financial year 2015, revenue of the company has been declined
by 11.34%s but company has reported growth in its net profit and maintained
decent margins at 6.16% during the year under the review. Rating reflects company’s healthy financial profile supported by
adequate networth base along with healthy debt protection metrics and gearing
ratio. Rating also reflects company’s well established track record of
business operations backed by well diversified business networth and vast
experience of promoters in pharmaceutical segment. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company 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.
EXTERNAL AGENCY RATING
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Rating Agency Name |
FITCH Rating |
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Rating |
Long Term Rating = A+ |
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Rating Explanation |
Have adequate degree of safety and carry low credit risk. |
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Date |
22.01.2015 |
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Rating Agency Name |
FITCH Rating |
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Rating |
Short Term Raring = A1+ |
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Rating Explanation |
Have very strong degree of safety and carry lowest credit risk |
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Date |
22.01.2015 |
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 (91-5924-252351-60 / 120-2516601-11)
LOCATIONS
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Registered Office / Factory 1 : |
Bhartiagram, Gajraula, Jyotiba Phoolay Nagar – 244223, Uttar Pradesh,
India |
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Tel. No.: |
91-5924-252351-60 |
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Fax No.: |
91-5924-252352 |
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E-Mail : |
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Website : |
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Corporate Office : |
Plot No.1A, Sector – 16-A, Noida–201301, Uttar Pradesh, India. |
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Tel. No.: |
91-120-4361000 |
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Fax No.: |
91-120-4234881/ 84/ 85/ 87/ 95/ 96 |
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E-Mail : |
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Factory 2 : |
56 Industrial Area, Nanjangud, District Mysore - 571302, Karnataka, India |
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Tel. No.: |
91-8221-228402-08 |
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Fax No.: |
91-8221 228410-11 |
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Factory 3 : |
Block No. 133, P. O. Samlaya, Savli Jarod Road, Taluka Savli,
Vadodara–391520, Gujarat, India |
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Tel. No.: |
91-2667-251361/ 251563-4 |
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Fax No.: |
91-2667-251305 |
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Factory 4 : |
Village Sikanderpur Bhainswal Bhagwanpur, Roorkee, District Haridwar,
Uttrakhand, India |
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Tel. No.: |
91-332-235161-66 |
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Fax No.: |
91-332-235169 |
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Factory 5 : |
N-34, MIDC, Anand Nagar, Ambernath - 421506, Maharashtra, India |
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Tel. No.: |
91-251-2620437/ 438 |
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Fax No.: |
91-251-2620439 |
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Factory 6 : |
SEZ, Bharuch Plot No.5, Vilayat GIDC, Taluka Vagra, Bharuch – 392012, Gujarat,
India |
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Tel. No.: |
91-2641-281500 (30 Lines) |
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Fax No.: |
91-2641-281515 |
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International Manufacturing Facilities : |
Quebec Add : Jubilant DraxImage, Inc 16751, Tel. : 91-514- 630 7030 Fax : 91-514 -694 9295 Spokane Add : Jubilant HollisterStier LLC 3525, N. Regal, Tel. : 91- 509 -489 5656 Fax : 91- 509 -484 4320 Salisbury Add : Jubilant Cadista Pharmaceuticals Tel. : 91- 410- 860 8500 Fax : 91- 410- 860 8719 |
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R and D Facilities : |
Located at: UTTAR PRADESH
(CENTRAL R&D) ·
C-26, Sector 59, Noida - 201 301, India ·
D-12, Sector 59, Noida - 201 301, India ·
C- 46, Sector 62, Noida - 201 301, India UTTAR PRADESH
(GAJRAULA R&D) Bhartiagram, Gajraula - 244 223, District Jyotiba Phoolay Nagar, India KARNATAKA
(NANJANGUD R&D) 51-56, KIADB Industrial Area, Nanjangud, District Mysore - 571 302,
India GUJARAT (SAVLI
R&D) Block 133, Village Samalaya, Taluka Savli, District Vadodara - 391
520, India |
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Branch Office : |
225/5/1A, Pawar Complex, Above Prince Restaurant Hadapsar,
Pune - 411028 |
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Tel. No.: |
91-20-26992395 |
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Fax No.: |
91-20-26993896 |
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Branch Office : |
Also Located at:
·
Lucknow · Chennai · Hyderabad · Bangalore · Pune · Ahmedabad ·
Kolkata |
DIRECTORS
AS ON 31.03.2015
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Name : |
Mr. Shyam S Bhartia |
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Designation : |
Chairman and Managing Director |
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Name : |
Mr. Hari S Bhartia |
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Designation : |
Co-Chairman and Managing Director |
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Name : |
Mr. Shyamsundar Bang |
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Designation : |
Executive Director (Manufacturing and Supply Chain Operations) |
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Qualification : |
M. Tech (Chem Engg.) |
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Name : |
Mr. Shardul S Shroff |
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Designation : |
Director |
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Name : |
Mr. S Sridhar |
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Designation : |
Director |
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Name : |
Dr. Ashok Misra |
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Designation : |
Director |
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Name : |
Ms. Sudha Pillai |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mr. Rajesh Srivastava |
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Designation : |
Co-Chief Executive Officer (Life Science Ingredients) |
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Name : |
Mr. Pramod Yadav |
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Designation : |
Co-Chief Executive Officer (Life Science Ingredients) |
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Name : |
G P Singh |
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Designation : |
Chief Executive Officer (Jubilant Pharma) |
SHAREHOLDING PATTERN
As on 30.09.2015
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Category of
Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of Shares |
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(A) Shareholding of
Promoter and Promoter Group |
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|
503500 |
0.32 |
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|
78577176 |
49.33 |
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79080676 |
49.65 |
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|
1399935 |
0.88 |
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5570445 |
3.50 |
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6970380 |
4.38 |
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Total shareholding
of Promoter and Promoter Group (A) |
86051056 |
54.02 |
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(B) Public
Shareholding |
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|
396880 |
0.25 |
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|
508282 |
0.32 |
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27961986 |
17.56 |
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28867148 |
18.12 |
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9102220 |
5.71 |
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Individual shareholders holding nominal share capital up to Rs.0.100 Million |
14366173 |
9.02 |
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Individual shareholders holding nominal share capital in excess of Rs.0.100 Million |
2277529 |
1.43 |
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|
18617013 |
11.69 |
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|
829646 |
0.52 |
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|
4395543 |
2.76 |
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13391824 |
8.41 |
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|
44362935 |
27.85 |
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Total Public
shareholding (B) |
73230083 |
45.98 |
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Total (A)+(B) |
159281139 |
100.00 |
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(C) Shares held by Custodians
and against which Depository Receipts have been issued |
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0 |
0.00 |
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|
0 |
0.00 |
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0 |
0.00 |
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Total (A)+(B)+(C) |
159281139 |
0.00 |
Shareholding of
securities (including shares, warrants, convertible securities) of persons
belonging to the category Promoter and Promoter Group
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Sl. No. |
Name of the
Shareholder |
Details of Shares held |
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No. of Shares held |
As a % of grand total |
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1 |
Shyam Sunder Bhartia |
1399935 |
0.88 |
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2 |
Hari Shankar Bhartia |
360885 |
0.23 |
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3 |
Priyavrat Bhartia |
3085 |
0.00 |
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4 |
Shamit Bhartia |
129245 |
0.08 |
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5 |
Kavita Bhartia |
10285 |
0.01 |
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6 |
Jubilant Stock Holding Private Limited |
29676992 |
18.63 |
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7 |
Vam Holdings Limited |
5681400 |
3.57 |
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8 |
SSB Consultants and Management Services Private Limited |
21007665 |
13.19 |
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9 |
HSB Corporate Consultants Private Limited |
18698979 |
11.74 |
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10 |
Jaytee Private Limited |
7600 |
0.00 |
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11 |
Nikita Resources Private Limited |
3504540 |
2.20 |
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12 |
Rance Investment Holdings Limited |
2400000 |
1.51 |
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13 |
Cumin Investments Limited |
2400000 |
1.51 |
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14 |
Torino Overseas Limited |
770445 |
0.48 |
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Total |
86051056 |
54.02 |
Shareholding of
securities (including shares, warrants, convertible securities) of persons belonging
to the category Public and holding more than 1% of the total number of shares
|
Sl. No. |
Name of the
Shareholder |
No. of Shares held |
Shares as % of Total No. of Shares |
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1 |
Deutsche Securities Mauritius Limited |
3861216 |
2.42 |
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2 |
Samena Special Situations Mauritius |
7043133 |
4.42 |
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3 |
Goldman Sachs (Singapure) Pte |
1628796 |
1.02 |
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4 |
Government Pension Fund Global |
3975000 |
2.50 |
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5 |
GHI LTP Limited |
2060159 |
1.29 |
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6 |
Atyant Capital India Fund 1 |
1598050 |
1.00 |
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7 |
East Bridge Capital Master Fund Limited |
6013994 |
3.78 |
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8 |
Morgan Stanley Asia (Singapore) Pte |
4070609 |
2.56 |
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9 |
Jubilant Employees Welfare Trust |
4281579 |
2.69 |
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10 |
JLL Unclaimed Suspense Account (Transferred in Terms of Clause 5A of the Lising Agreement) |
2515235 |
1.58 |
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|
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Total |
37047771 |
23.26 |
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BUSINESS DETAILS
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Line of Business : |
Subject is a
global Pharmaceutical and Life Sciences player engaged in manufacture and supply
of Generics (Including Active Pharmaceuticals Ingredients (APIs) and Solid
Dosage Formulations) and Life Science Ingredients (Including Proprietary
Products and Exclusive Synthesis, Nutrition Ingredients and Life Sciences
Chemicals). |
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Products : |
Not Divulged |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
6085 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
NOTE: LONG TERM
BORROWINGS 1) Indian rupee loans amounting to Rs. 10181.530 Million (Previous year Rs. 9744.480 Million) from Axis Bank Limited, IFCI Limited, IndusInd Bank Limited, Yes Bank Limited (Previous year from Corporation Bank, Central Bank of India, Indian Bank, Axis Bank Limited) and External commercial borrowings amounting to Rs. 2968.750 Million (Previous year Rs. 2995.500 Million) from DBS Bank Limited, Singapore and foreign currency loans amounting to Rs. 2187.500 Million (Previous year Rs. 2695.950 Million) from Export Import Bank of India are secured by a first pari-passu charge created/ to be created amongst the lenders by way of: a. Mortgage of the immovable fixed assets both present and future situated at Bhartiagram, District Amroha, Uttar Pradesh and immovable fixed assets situated at Village Samlaya, Taluka Savli, District Vadodara, Gujarat, and b. Hypothecation on the entire movable fixed assets, both present and future of the Company. Indian rupee loan from Axis Bank Limited is further
secured by exclusive first charge created by way of hypothecation on
receivable of USD 52.50 Million (rupee equivalent converted at closing rate
Rs. 3281.250 Million) (Previous year Rs. Nil) from Jubilant Generics Limited
arising on account of Business Transfer Agreement. 2) Indian rupee loan amounting to Rs. 3000.000 Million (Previous year Rs. Nil) from Housing Development Finance Corporation Limited is secured by first mortgage by way of deposit of original title deeds of specified land and buildings situated at Noida, Greater Noida, Ambernath and also at Bharuch owned by one of the subsidiaries of the Company 3) Foreign currency loan amounting to Rs. Nil (Previous year Rs. 5691.450 Million) from Housing Development Finance Corporation Limited was secured by first mortgage by way of deposit of original title deeds of specified land and buildings situated at Noida, Greater Noida, Nanjangud, Nira, Roorkee, Ambernath and also at Bharuch owned by one of the subsidiaries of the Company. 4) Indian rupee loan amounting to Rs. 1800.000 Million (Previous year Rs. Nil) from Yes Bank Limited is repayable in twelve equal quarterly instalments commencing from June 2017. 5) Indian rupee loan amounting to Rs. 3000.000 Million (Previous year Rs. Nil) from IFCI Limited is repayable in twelve equal quarterly instalments commencing from May 2017. 6) Indian rupee loan amounting to Rs. 3000.000 Million (Previous year Rs. Nil) from Housing Development Finance Corporation Limited is repayable in eight equal half yearly instalments commencing from March 2017. 7) Indian rupee loan amounting to Rs. 3500.000 Million (Previous year Rs. Nil) from Axis Bank Limited is repayable in fourteen half yearly instalments commencing from September 2015. 8) Indian rupee loan amounting to Rs. 1881.530 Million (Previous year Rs. Nil) from Indusind Bank Limited is repayable in twenty quarterly instalments commencing from June 2015. 9) External commercial borrowing amounting to Rs. 2968.750 Million (Previous year Rs. 2995.500 Million) from DBS Bank Limited, Singapore is repayable in three yearly instalments from December 2015. 10) Foreign currency loan amounting to Rs. 2187.500 Million (Previous year Rs. 2695.950 Million) from Export Import Bank of India is repayable in two yearly instalments from May 2015. 11) Indian rupee loans amounting to Rs. 9744.480 Million from Corporation Bank, Central Bank of India, Indian Bank, Axis Bank Limited and foreign currency loan amounting to Rs. 5691.450 Million from Housing Development Finance Corporation Limited outstanding at the end of previous year have been fully repaid during the current year. 12) Loans from subsidiaries are repayable at end of five years from the date of respective disbursement 13) Finance lease obligations are secured by hypothecation of specific assets taken under such lease. The same are repayable within five years. 14) The term loans carry floating interest rate calculated in accordance with the terms of the arrangement which is a specified benchmark rate (reset at periodic intervals), adjusted for agreed spread. During the year ended 31 March 2015, the interest rate on Indian currency loans and foreign currency loans range from 9.50% to 13.25% per annum (Previous year 9.50% to 12.75% per annum) and 3.50% to 4.50% per annum (Previous year 3.25% to 4.95% per annum), respectively. SHORT TERM
BORROWINGS Working capital facilities (including cash credit) sanctioned by consortium of banks and notified financial institutions comprising of ICICI Bank Limited, Corporation Bank, Punjab National Bank, State Bank of India, The Hongkong and Shanghai Banking Corporation Limited, ING Vysya Bank Limited, Central Bank of India, Yes Bank Limited, DBS Bank Limited and Export Import Bank of India, are secured by a first charge by way of hypothecation, ranking pari-passu interse banks, of the entire book debts and receivables and inventories both present and future, of the Company wherever the same may be or be held. During the previous year, the working capital sanctioned limits also included commercial paper programme of Rs.3000.000 Million as sublimit carved out from the funded limits, against which the maximum balance outstanding at any time during the previous year was Rs. Nil and balance outstanding as at end of previous year was Rs. Nil. Other working capital loans are repayable as per terms of agreement within one year Short term loans are availed in Indian rupees and in foreign currency which carry floating interest rate calculated in accordance with the terms of the arrangement which is a specified benchmark rate (reset at periodic intervals), adjusted for agreed spread. During the year ended 31 March 2015, the interest rate on Indian currency loans and foreign currency loans range from 9.50% to 14.00% per annum (Previous year 9.50% to 13.85% per annum) and 0.50% to 4.50% per annum (Previous year 0.25% to 4.75% per annum), respectively. The composition of assets/ fixed assets and current assets
as mentioned above are defined in detail in the respective financing/ credit
arrangements. |
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Auditors : |
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Name : |
B S R and Company LLP Chartered Accountant |
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Address : |
Building No. 10, 8th Floor, Tower – B, DLF Cyber City,
Phase – II, Gurgaon – 122 002, Haryana, India |
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Tel. No.: |
91-124-2358610 |
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Fax No.: |
91-124-2358613 |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiaries including Step-down subsidiaries : |
·
Jubilant Pharma Limited (formerly known asJubilant
Pharma Pte. Limited) ·
Draximage Limited ·
Cyprus, Draximage Limited, Ireland ·
Draximage LLC, Jubilant DraxImage (USA) Inc. ·
Deprenyl Inc., USA, Jubilant DraxImage Inc. ·
6963196 Canada Inc. ·
6981364 Canada Inc. ·
DAHI Animal Health (UK) Limited ·
Draximage (UK) Limited, Jubilant Pharma
Holdings Inc. (formerly known as Jubilant Life Sciences Holdings Inc.) ·
Jubilant Clinsys Inc. ·
Cadista Holdings Inc. ·
Jubilant Cadista Pharmaceuticals Inc. ·
Jubilant Life Sciences International Pte.
Limited ·
HSL Holdings Inc. ·
Jubilant HollisterStier LLC ·
Jubilant Life Sciences (Shanghai) Limited ·
Jubilant Pharma NV ·
Jubilant Pharmaceuticals NV ·
PSI Supply NV ·
Jubilant Life Sciences (USA) Inc. ·
Jubilant Life Sciences (BVI) Limited ·
Jubilant Biosys (BVI) Limited ·
Jubilant Biosys (Singapore) Pte. Limited ·
Jubilant Biosys Limited ·
Jubilant Discovery Services Inc. ·
Jubilant Drug Development Pte. Limited ·
Jubilant Chemsys Limited. ·
Jubilant Clinsys Limited ·
Jubilant Infrastructure Limited ·
Jubilant First Trust Healthcare Limited ·
Asia Healthcare Development Limited (upto 3
March 2014) ·
Jubilant Innovation (BVI) Limited ·
Jubilant Innovation Pte. Limited ·
Jubilant DraxImage Limited ·
Jubilant Innovation (India) Limited ·
Jubilant Innovation (USA) Inc. ·
Jubilant HollisterStier Inc. ·
Draxis Pharma LLC ·
Jubilant Generics Inc. (upto 22 December 2014) ·
Jubilant Life Sciences (Switzerland) AG ·
First Trust Medicare Private Limited ·
Jubilant Drug Discovery and Development
Services Inc. ·
Vanthys Pharmaceutical Development Private
Limited ·
Jubilant Life Sciences NV ·
Jubilant Generics Limited ·
Jubilant Pharma Trading Inc. ·
Drug Discovery and Development Solutions
Limited. |
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Other Entities : |
· Jubilant HollisterStier General Partnership Canada · Draximage General Partnership Canada (controlled through subsidiaries/step down subsidiaries). |
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Enterprise over
which certain key management personnel have significant influence : |
·
Jubilant Enpro Private Limited ·
Jubilant Oil and Gas Private Limited ·
Jubilant FoodWorks Limited ·
Tower Promoters Private Limited ·
B&M Hot Breads Private Limited ·
Jubilant Industries Limited ·
Jubilant Agri and Consumer Products Limited ·
Jubilant Motors Private Limited ·
Jubilant Aeronautics Private Limited ·
Jubilant Fresh Private Limited ·
Sankur Chalets Private Limited |
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Others: |
· Vam Employees Provident Fund Trust · Jubilant Employee Welfare Trust · Jubilant Bhartia Foundation · Vam Officers Superannuation Fund |
CAPITAL STRUCTURE
As on 31.03.2015
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
655000000 |
Equity Shares |
Re.1/- each |
Rs. 655.000 Million |
Issued and Subscribed Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
159313139 |
Equity Shares |
Re.1/- each |
Rs. 159.310
Million |
Paid-up Capital
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
159281139 |
Equity Shares |
Re.1/- each |
Rs.159.280 Million |
|
|
Add: Equity shares forfeited (paid up) |
|
Rs.0.020
Million |
|
|
Total |
|
Rs.159.300 Million |
Paid up capital includes, 501364 (Previous year 501,364), equity shares of Rs. 1 each allotted and issued pursuant to the Scheme of Amalgamation and Demerger, to the shareholders of erstwhile Pace Marketing Specialties Limited for consideration other than cash during the year ended 31 March 2011.
The Company has only one class of shares referred to as equity shares having par value of Rs. 1 each. Holder of each equity share is entitled to one vote per share. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
The details of
shareholders holding more than 5% shares is set out below:
|
Equity shares of
Rs. 1 each fully paid-up held by |
As at 31 March 2015 |
|
|
Number |
% of total shares |
|
|
Jubilant Stock Holding Private Limited |
29676992 |
18.63 % |
|
SSB Consultants and Management Services Private Limited |
21007665 |
13.19 % |
|
HSB Corporate Consultants Private Limited |
18698979 |
11.74 % |
|
GA Global Investments Limited |
10380339 |
6.52 % |
The reconciliation of
the shares outstanding at the beginning and at the end of the year:
|
Particulars |
As at 31 March 2015 |
|
|
Number |
Rs. In Million |
|
|
At the commencement and at the end of the year |
159281139 |
159.280 |
114,835 (Previous year 114,835) equity shares of Rs. 1 each allotted on exercise of the vested stock options in accordance with the terms of exercise under the "Jubilant Employees Stock Option Plan, 2005".
Under the Jubilant Employees Stock Option 2005 Plan, as at 31 March 2015- 105,495 (Previous year 132,684) outstanding options are convertible into 527,475 (Previous year 663,420) shares.
Under the Jubilant Employees Stock Option 2011 Plan, as at 31 March 2015- 1,112,306 (Previous year 1,428,939) outstanding options are convertible into 1,112,306 (Previous year 1,428,939) shares.
The Company declares and pays dividends 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.
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
159.300 |
154.460 |
159.300 |
|
(b) Reserves & Surplus |
19290.350 |
17173.080 |
18276.580 |
|
(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) |
19449.650 |
17327.540 |
18435.880 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
17390.680 |
11410.500 |
20512.530 |
|
(b) Deferred tax liabilities (Net) |
1519.700 |
1734.200 |
2601.600 |
|
(c) Other long term
liabilities |
0.000 |
104.060 |
50.470 |
|
(d) long-term
provisions |
438.500 |
2104.130 |
2273.500 |
|
Total Non-current
Liabilities (3) |
19348.880 |
15352.890 |
25438.100 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
3404.320 |
10971.260 |
10426.990 |
|
(b) Trade
payables |
4984.250 |
5992.450 |
5152.220 |
|
(c) Other
current liabilities |
3971.670 |
14682.490 |
4652.980 |
|
(d) Short-term
provisions |
716.740 |
2178.590 |
810.820 |
|
Total Current
Liabilities (4) |
13076.980 |
33824.790 |
21043.010 |
|
|
|
|
|
|
TOTAL |
51875.510 |
66505.220 |
64916.990 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
14387.760 |
20458.890 |
20901.220 |
|
(ii)
Intangible Assets |
71.500 |
1052.470 |
953.620 |
|
(iii)
Capital work-in-progress |
200.170 |
211.620 |
257.600 |
|
(iv)
Intangible assets under development |
0.000 |
2207.800 |
1875.970 |
|
(b) Non-current Investments |
17662.640 |
20056.920 |
19785.060 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3006.680 |
3022.340 |
3438.370 |
|
(e) Other
Non-current assets |
4.490 |
4.990 |
2.180 |
|
Total Non-Current
Assets |
35333.240 |
47015.030 |
47214.020 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
3.750 |
0.000 |
|
(b)
Inventories |
5158.600 |
7335.180 |
6124.800 |
|
(c) Trade
receivables |
3187.650 |
5295.970 |
3932.510 |
|
(d) Cash
and cash equivalents |
1367.350 |
1787.100 |
2558.850 |
|
(e)
Short-term loans and advances |
6769.500 |
5050.780 |
4493.760 |
|
(f) Other
current assets |
59.170 |
17.410 |
593.050 |
|
Total
Current Assets |
16542.270 |
19490.190 |
17702.970 |
|
|
|
|
|
|
TOTAL |
51875.510 |
66505.220 |
64916.990 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
31763.040 |
36727.920 |
31463.030 |
|
|
Other Income |
1064.190 |
298.810 |
349.720 |
|
|
TOTAL |
32827.230 |
37026.730 |
31812.750 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
16631.980 |
18330.490 |
15285.770 |
|
|
Purchases of Stock-in-Trade |
1980.530 |
1740.180 |
1917.380 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
738.870 |
(212.070) |
(241.750) |
|
|
Employees benefits expense |
2408.280 |
2982.320 |
2490.170 |
|
|
Exceptional Items |
(1982.220) |
2268.630 |
1237.320 |
|
|
Other expenses |
7241.720 |
8069.980 |
7170.490 |
|
|
TOTAL |
27019.160 |
33179.530 |
27859.380 |
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
5808.070 |
3847.200 |
3953.370 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
2270.960 |
2775.910 |
2559.790 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
3537.110 |
1071.290 |
1393.580 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1074.140 |
1752.870 |
1521.670 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
2462.970 |
(681.580) |
(128.090) |
|
|
|
|
|
|
|
Less |
TAX |
411.870 |
(689.820) |
305.140 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
2051.100 |
8.240 |
(433.230) |
|
|
|
|
|
|
|
|
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD |
6388.000 |
6871.000 |
7863.000 |
|
|
|
|
|
|
|
|
Adjustment
on account of (deconsolidation)/ consolidation of Jubilant Employees Welfare
Trust |
(67.000) |
52.820 |
0.000 |
|
|
|
|
|
|
|
|
Adjustment on account of revised useful life of fixed
assets |
(86.000) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
Proposed Dividend on Equity Shares |
478.000 |
463.000 |
478.000 |
|
|
Tax on Dividend on Equity Shares |
97.000 |
81.000 |
81.000 |
|
|
Balance
Carried to the B/S |
7711.100 |
6388.000 |
6871.000 |
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
Export Earnings |
15648.100 |
21932.650 |
18008.460 |
|
|
TOTAL EARNINGS |
15648.100 |
21932.650 |
18008.460 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
9586.970 |
8980.930 |
5649.480 |
|
|
Stores & Spares |
666.990 |
541.470 |
335.100 |
|
|
Capital Goods |
34.670 |
44.850 |
99.610 |
|
|
TOTAL IMPORTS |
10288.630 |
9567.250 |
6084.190 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
12.88 |
0.05 |
(2.72) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
1987.830 |
10745.890 |
1677.600 |
|
Cash generated from operations |
3233.560 |
5497.160 |
8440.570 |
|
Net cash flow from (used in) operation |
2855.500 |
5486.760 |
8272.210 |
QUARTERLY
RESULTS
|
Particulars (Unaudited) |
30.06.2015 |
30.09.2015 |
|
1st
Quarter |
2nd
Quarter |
|
|
Net Sales |
6691.300 |
7074.000 |
|
Total Expenditure |
5982.300 |
6105.600 |
|
PBIDT (Excl OI) |
709.000 |
968.400 |
|
Other Income |
130.700 |
384.900 |
|
Operating Profit |
839.700 |
1353.300 |
|
Interest |
551.600 |
529.500 |
|
Exceptional Items |
52.700 |
(120.000) |
|
PBDT |
340.800 |
703.800 |
|
Depreciation |
210.400 |
222.000 |
|
Profit Before Tax |
130.400 |
481.800 |
|
Tax |
56.400 |
(27.300) |
|
Provisions and contingencies |
0.000 |
0.000 |
|
Profit After Tax |
74.000 |
509.100 |
|
Extraordinary Items |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
|
Net Profit |
74.000 |
509.100 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
6.46 |
0.02 |
(1.38) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
18.29 |
10.47 |
12.57 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.24 |
(1.55) |
(0.30) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
(0.04) |
(0.01) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.07 |
1.29 |
1.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26 |
0.58 |
0.84 |
STOCK
PRICES
|
Face Value |
Rs. 1.00/- |
|
Market Value |
Rs. 412.30/- |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
159.300 |
154.460 |
159.300 |
|
Reserves & Surplus |
18276.580 |
17173.080 |
19290.350 |
|
Net
worth |
18435.880 |
17327.540 |
19449.650 |
|
|
|
|
|
|
long-term borrowings |
20512.530 |
11410.500 |
17390.680 |
|
Short term borrowings |
10426.990 |
10971.260 |
3404.320 |
|
Current Maturities of Long
Term Debt |
1677.600 |
10745.890 |
1987.830 |
|
Total
borrowings |
32617.120 |
33127.650 |
22782.830 |
|
Debt/Equity
ratio |
1.769 |
1.912 |
1.171 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
31463.030 |
36727.920 |
31763.040 |
|
|
|
16.734 |
(13.518) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
31463.030 |
36727.920 |
31763.040 |
|
Profit |
(433.230) |
8.240 |
2051.100 |
|
|
(1.38%) |
0.02% |
6.46% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
No |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
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 |
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 |
---------------- |
|
33 |
Market information |
---------------- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
Particulars |
As
on 31.03.2015 |
As
on 31.03.2014 |
|
LONG TERM
BORROWING |
|
|
|
Indian rupee loans from subsidiaries |
1028.870 |
1015.900 |
|
SHORT TERM
BORROWING |
|
|
|
Loans repayable on demand from banks |
1689.840 |
4930.850 |
|
From related parties |
77.500 |
70.000 |
|
|
|
|
|
Total |
2796.210 |
6016.750 |
INDEX OF CHARGES
|
S. NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10563082 |
31/03/2015 |
8,500,000,000.00 |
AXIS BANK LIMITED |
B-2 AND B-3, SECTOR-16, NOIDA, NOIDA - 201301, UTTAR PRADESH , INDIA |
C50758127 |
|
2 |
10563070 |
30/03/2015 |
2,000,000,000.00 |
INDUSIND BANK LIMITED |
2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE - 411001, MAHARASHTRA, INDIA |
C50754597 |
|
3 |
10557690 |
27/03/2015 |
3,000,000,000.00 |
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED |
RAMON HOUSE 169, BACKBAY RECLAMATION, H T PAREKH MARG, MUMBAI - 400020, MAHARASHTRA, INDIA |
C48105589 |
|
4 |
10553606 |
09/03/2015 |
3,000,000,000.00 |
IFCI LIMITED |
IFCI TOWER, 61, NEHRU PLACE, NEW DELHI - 110019, INDIA |
C45874906 |
|
5 |
10558963 |
09/03/2015 |
1,800,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR.ANNIE BESANT ROAD, WORLI, MUMBAI - 400018, MAHARASHTRA, INDIA |
C49022676 |
|
6 |
10343200 |
25/04/2013 * |
2,504,900,000.00 |
DBS BANK LIMITED |
ACTING ON BEHALF OF
DBS BANK LIMITED, SINGAPORE, |
B74167784 |
|
7 |
10217801 |
20/03/2012 * |
2,300,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, FLOOR 21, WORD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA |
B35908292 |
|
8 |
80046092 |
20/09/2013 * |
15,000,000,000.00 |
ICICI BANK LIMITED |
LANDMARK RACE
COURCE CIRCLE, ALKAPURI, VADODARA - 390007, |
B87010690 |
* Date of charge modification
OVERVIEW
Subject is an integrated global Pharmaceutical and Life
Sciences company engaged in manufacture and supply of Active Pharmaceutical
Ingredients, Solid Dosage Formulations, Radiopharmaceuticals, Allergy Therapy
Products and Life Science Ingredients. It also provides services in Contract
Manufacturing of Sterile Injectable and Drug Discovery Solutions. The Company’s
strength lies in its unique offerings of Pharmaceutical and Life Sciences
products and services across the value chain. With 10 world-class manufacturing
facilities in India, US and Canada and a team of about 6,100 multicultural
people across the globe, the Company is committed to deliver value to its
customers spread across over 100 countries. The Company is well recognized as a
“Partner of Choice” by leading pharmaceuticals and life sciences companies
globally.
OUTLOOK
Post a year of consolidation, they expect Pharmaceuticals segment to drive revenue growth in FY 2016 with improvement in profitability across key businesses. The Pharmaceuticals segment is expected to drive growth on account of several reasons. They anticipate growth in Generics business from entry into new markets and launch of new products in Solid Dosage Formulations and volumes growth in APIs. The CMO business is expected to benefit from normalisation of operations and they expect the Radiopharmaceuticals business to continue its strong performance. The growth in Life Science Ingredients business is expected to be led by higher volumes in Nutritional Products and Fine Ingredients. They expect to witness improved profitability across key businesses.
They will continue with their endeavours to strengthen balance sheet and expect that the management consolidation will help drive the business in a focused manner to improve the operating performance.
They wish to convey their earnest gratitude to all their stakeholders which include our customers, vendors, bankers and shareholders for continuing their support and maintaining their confidence and trust with them. They would like to welcome Dr. Ashok Misra who joined us as a Director on their Board. They take this opportunity to thank Mr. Inder Mohan Verma, Mr. Suresh Kumar and Mr. Abhay Havaldar, who resigned from their Board during the year, for their invaluable contribution. They would also like to express our deepest gratitude to their employees across geographies for their contribution and commitment towards achieving the organizational goals.
STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS
FOR THE QUARTER AND HALF YEAR ENDED 30 SEPTEMBER 2015
(Rs. in million)
|
Particulars |
Quarter Ended |
Quarter Ended |
Half Year Ended |
|
30.09.2015 |
30.06.2015 |
30.09.2015 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
|
|
|
|
|
|
Income from Operations |
|
|
|
|
a) Net Sales / Income
from Operations |
6964.000 |
6568.500 |
13532.500 |
|
b) Other Operating Income |
110.000 |
122.800 |
232.800 |
|
Total Income from
Operations (net) |
7074.000 |
6691.300 |
13765.300 |
|
Expenditure |
|
|
|
|
a) Cost of materials
consumed |
3706.200 |
3711.000 |
7417.200 |
|
b) Purchase of
stock-in-trade |
291.500 |
293.400 |
584.900 |
|
c) Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
(116.300) |
(395.200) |
(511.500) |
|
d) Employee benefits
expense |
801.700 |
527.000 |
1656.800 |
|
e) Depreciation and
amortisation expense |
552.400 |
210.400 |
1079.400 |
|
f) Power and Fuel Charges |
222.000 |
855.100 |
432.400 |
|
g) Other expenses |
870.100 |
965.900 |
1836.000 |
|
Total Expenses |
6327.600 |
6167.600 |
12495.200 |
|
Profit/ (Loss) from Operations before Other
Income, Exchange gain/(loss), Finance costs and Exceptional items |
746.400 |
523.700 |
1270.100 |
|
Other Income |
384.900 |
130.700 |
515.600 |
|
Profit /(Loss) from Ordinary activities before finance costs and
Exceptional items |
1131.300 |
654.400 |
1785.700 |
|
Finance
Costs |
529.500 |
576.700 |
1106.200 |
|
Profit
/ (Loss) from ordinary activities after Finance costs but before Exceptional
items |
601.800 |
77.700 |
679.500 |
|
Exceptional
items |
120.000 |
(52.700) |
67.300 |
|
Profit/
(Loss) from ordinary activities before tax |
481.800 |
130.400 |
612.200 |
|
Tax
expenses |
(27.300) |
56.400 |
29.100 |
|
Net
Profit / (Loss) from ordinary activities after tax |
509.100 |
74.000 |
583.100 |
|
Extraordinary items |
--- |
--- |
--- |
|
Net Profit / (Loss) for the period |
509.100 |
74.000 |
583.100 |
|
Paid-up equity share
capital (Face Value of Rs.1 per share) |
159.300 |
159.300 |
159.300 |
|
Reserve excluding
Revaluation reserve |
--- |
--- |
--- |
|
Earnings Per Share (EPS)
before and after extraordinary items (of Rs. 1/- each) |
|
|
|
|
Basic |
3.20 |
0.46 |
3.66 |
|
Diluted |
3.20 |
0.46 |
3.66 |
|
|
|
|
|
|
PARTIULARS OF
SHAREHOLDINGS |
|
|
|
|
Public Shareholding |
|
|
|
|
- Number of Shares |
73230083 |
73230083 |
73230083 |
|
- Percentage of
Shareholding |
45.98% |
45.98% |
45.98% |
|
Promoters and Promoter Group Shareholding |
|
|
|
|
a) Pledged/Encumbered |
|
|
|
|
- Number of Shares |
11137000 |
11137000 |
11137000 |
|
- Percentage of Shares
(as a % of the Total Shareholding of promoter and promoter group) |
12.94% |
12.94% |
12.94% |
|
- Percentage of Shares (as
a % of the Total Share Capital of the Company) |
6.99% |
6.99% |
6.99% |
|
b) Non Encumbered |
|
|
|
|
- Number of Shares |
74914056 |
74914056 |
74914056 |
|
- Percentage of Shares
(as a % of the Total Shareholding of Promoter and Promoter Group) |
87.06% |
87.06% |
87.06% |
|
- Percentage of Shares
(as a % of the Total Share Capital of the Company) |
47.03% |
47.03% |
47.03% |
|
PARTICULARS |
|||
|
B INVESTORS
COMPLAINTS |
|
||
|
Pending at
the beginning of the quarter |
1 |
||
|
Received during
the quarter |
6 |
||
|
Disposed
during the quarter |
7 |
||
|
Remaining
unresolved at the end of the quarter |
NIL |
||
SEGMENT WISE REVENUE, RESULTS AND CAPITAL
EMPLOYED
FOR THE QUARTER AND HALF YEAR ENDED 30
SEPTEMBER 2015
(Rs. in million)
|
Particulars |
Quarter Ended |
Quarter Ended |
Half Year Ended |
|
30.09.2015 |
30.06.2015 |
30.09.2015 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
|
Segment Revenue |
|
|
|
|
a) Pharmaceuticals |
46.400 |
57.300 |
103.700 |
|
b) Life Science
Ingredients |
7027.600 |
6634.000 |
13661.600 |
|
Total |
7074.000 |
6691.300 |
13765.300 |
|
Less
: Inter Segment revenue |
--- |
--- |
--- |
|
Net
Sales/Income from operations |
7074.000 |
6691.300 |
13765.300 |
|
a) Pharmaceuticals |
46.400 |
57.300 |
103.700 |
|
b) Life Science
Ingredients |
7027.600 |
6634.000 |
13661.600 |
|
Total |
7074.000 |
6691.300 |
13765.300 |
|
|
|
|
|
|
Segment Results |
|
|
|
|
Profit/(Loss)
(Before Tax and Interest) For each Segment |
|
|
|
|
a) Pharmaceuticals |
(76.400) |
(61.800) |
(138.200) |
|
b) Life Science
Ingredients |
879.200 |
843.800 |
1723.000 |
|
Total |
802.800 |
782.000 |
1584.800 |
|
|
|
|
|
|
Less: Interest (Finance
Costs) |
529.500 |
576.700 |
1106.200 |
|
Exceptional items and un-allocable
expenditure |
56.400 |
228.800 |
285.200 |
|
Exceptional items and un-allocable
income |
(264.900) |
(153.900) |
(418.800) |
|
Total
Profit Loss Before Taxation |
481.800 |
130.400 |
612.200 |
|
|
|
|
|
|
Capital Employed (Segment Assets - Segment
Liabilities) |
|
|
|
|
a) Pharmaceuticals |
(12.400) |
(14.000) |
(12.400) |
|
b) Life Science
Ingredients |
16281.700 |
16071.300 |
16281.700 |
|
Total
capital employed in segments |
16269.300 |
16057.300 |
16269.300 |
|
Add : Un-allocable corporate
assets less liabilities (excluding deferred tax liabilities) |
25136.400 |
26506.400 |
25136.400 |
|
Total
Capital Employed |
41405.700 |
42563.700 |
41405.700 |
STATEMENT
OF STANDALONE ASSETS AND LIABILITIES
(Rs.
In Million)
|
Particulars |
30.09.2015 |
|
Unaudited |
|
|
EQUITY AND
LIABILITIES |
|
|
Shareholders’
Funds |
|
|
Share Capital |
159.300 |
|
Reserves and Surplus |
19946.400 |
|
Money received against share warrants |
0.000 |
|
Sub-total-Shareholders’
funds |
20105.700 |
|
Share application
money pending allotment |
0.000 |
|
Minority
Interest |
0.000 |
|
|
|
|
Non-current
liabilities |
|
|
Long term borrowings |
15746.500 |
|
Deferred tax liabilities (Net) |
1552.200 |
|
Other long term liabilities |
0.000 |
|
Long term provisions |
457.100 |
|
Sub-total-
Non-current liabilities |
17755.800 |
|
|
|
|
Current
liabilities |
|
|
Short term borrowings |
1566.300 |
|
Trade Payables |
4362.500 |
|
Other current liabilities |
4639.000 |
|
Short term provisions |
165.100 |
|
Sub-total- Current
liabilities |
10732.900 |
|
TOTAL EQUITY AND
LIABILITIES |
48594.400 |
|
|
|
|
Assets |
|
|
Non-current
assets |
|
|
Fixed assets |
14627.200 |
|
Goodwill on consolidation |
0.000 |
|
Non-current investments |
16984.700 |
|
Deferred tax assets (Net) |
0.000 |
|
Long term loans and advances |
2938.900 |
|
Other non-current assets |
4.500 |
|
Sub-total-
Non-current assets |
34555.300 |
|
|
|
|
Current assets |
|
|
Current investments |
40.000 |
|
Inventories |
5408.700 |
|
Trade Receivables |
2959.100 |
|
Cash and Bank Balances |
532.900 |
|
Short term Loans and advances |
5036.100 |
|
Other Current assets |
62.300 |
|
Sub-total-
Current assets |
14039.100 |
|
TOTAL ASSETS |
48594.400 |
Note:
- Finance costs Include exchange difference arising from foreign currency short-term borrowings regarded as an adjustment to Interest costs as per Accounting Standard (AS) 16 "Borrowing Costs", and is gross of credit on the swap contracts.
- The Company has, since 30 September 2015, made prepayment of loans amounting to Rs.3730.600 Million, out of which Rs.294.100 Million were included under other current liabilities as at 30 September 2015.
- Exceptional items for each period presented Includes:
i) Amortization of debit balance in Foreign Currency Monetary Items Translation Difference Account (FCMITDA) of Rs.62.500 Million, Rs.79.000 Million, Rs.77.800 Million, Rs.141.500 Million, Rs.321.300 Million and Rs.447.500 Million for the quarters ended 30 September 2015, 30 June 2015, 30 September 2014; half year ended 30 September 2015, 30 September 2014 and year ended 31 March 2015; respectively, representing exchange difference on long-term foreign currency monetary liabilities which has been used for the purpose other than acquiring fixed assets.
ii) Rs.1866.200 Million and Rs.552.000 Million representing write off of a loan (Including Interest accrued thereon} given to a subsidiary and net book value (adjusted for net realisable value) In respect of Idle assets on usability assessment, respectively, recognised during the year ended 31 March 2015, profit on sale of Investments amounting to Rs.1650.800 Million, profit on sale of businesses amounting to Rs.2754.300 Million to Jubilant Generics Limited, a step-down wholly owned subsidiary, recognised during the half year ended 30 September 2014 and quarter and half year ended 30 September 2014 respectively and year ended 31 March 2015.
iii) The remaining amount of exceptional Items, for all periods presented primarily represents foreign exchange difference for the period (excluding portion Included in finance costs) and mark-to-market gain/ loss (net of related contractual recoveries) In respect of forward contracts, currency and Interest rate swap contracts.
- Previous periods figures have been reclassified to conform to the current period's classification. Further, the figures for the current period are not comparable to the previous periods due to transfer of certain businesses to Jubilant Generics Limited, a step-down wholly owned subsidiary with effect from 01 July 2014.
- The above unaudited results were, subjected to limited review by the Statutory Auditors of the Company, reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 29 October 2015.
FIXED ASSETS
- Land
- Plant and
Equipments
- Furniture and
Fixture
- Vehicles
- Office
Equipments
WEBSITE DETAILS:
PRESS RELEASE:
JUBILANT LIFE TO
RAISE RS 13000.000 MILLION VIA GDR/ADR/FCCB
Oct 29, 2015
Jubilant Life Sciences has accorded approval for raising funds through issue of
Equity / GDRs / ADRs / FCCBs or other equity related instruments up to an
amount of USD 200 million [Rs. 13000.000 Million (approx.)], subject to
approval of the shareholders of the Company and other necessary approvals.
Jubilant Life Sciences Limited has informed BSE that the Board of Directors of
the Company at its meeting held on October 29, 2015, inter alia, the following
decisions have been taken: - The Board has accorded approval for raising funds
through issue of Equity / GDRs / ADRs / FCCBs or other equity related
instruments up to an amount of USD 200 million [Rs. 13000.000 Million
(approx.)], subject to approval of the shareholders of the Company and other
necessary approvals.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration:
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration:
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime:
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws:
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards:
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government:
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package:
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report:
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 65.98 |
|
UK Pound |
1 |
Rs. 100.10 |
|
Euro |
1 |
Rs. 70.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
70 |
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.