MIRA INFORM REPORT
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Report No. : |
351030 |
|
Report Date : |
25.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
CONCEPT PHARMACEUTICALS LIMITED |
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|
|
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Formerly Known
As : |
CONCEPT PHARMACEUTICALS PRIVATE LIMITED |
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Registered
Office : |
501, Jaisingh Business Centre, 119, |
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Tel. No.: |
91-22-42418888 |
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Country : |
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Financials (as
on) : |
30.09.2013 |
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Date of
Incorporation : |
20.03.1979 |
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Com. Reg. No.: |
11-021126 |
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Capital
Investment / Paid-up Capital : |
Rs. 120.000 Million |
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|
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CIN No.: [Company Identification
No.] |
U24239MH1979PLC021126 |
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IEC No.: |
0388156449 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACC4440M |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Pharmaceuticals and its intermediates. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 1710000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1979 and it is promoted by Mr.
Adhyatma Bandu Gupta and his family members. Management of the company has not filed its financial with the
government department for the year 2014. The rating reflects its established marked position in the
pharmaceutical formulations business supported by its promoters extensive
experience in that industry, wide product portfolio and entrenched
distribution network. The ratings also factor in the company’s above-average
financial risk profile, marked by a moderate networth, low gearing and
comfortable debt protection metrics. This rating strength is partially offset by its modest scale of
operations, its large working capital requirements and its exposure to
intense competition in the pharmaceutical formulations industry. However, trade relations are fair. Business is active. Payment terms
are reported to be usually correct. The company can be considered normal for business dealings at usual
trade terms and conditions. NOTE: The profit figure for the year September 2013 differs in Profit and
Loss Statement and directors report. We have considered the profit figure of
profit and loss statement. |
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 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
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Rating |
Long term Bank facilities = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
August 06, 2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term Bank facilities = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
August 06, 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 DECLINED BY
|
Name : |
Ms. Archana |
|
Designation : |
Accounts Department |
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Contact No.: |
91-22-42418888 |
|
Date : |
24.11.2015 |
LOCATIONS
|
Registered/ Head Office : |
501, Jaisingh Business Centre, 119, Sahar Road, Andheri (East), Mumbai
– 400099, Maharashtra, India |
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Tel. No.: |
91-22-42418888 |
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Fax No.: |
91-22-28392916 |
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E-Mail : |
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Website : |
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Factory 1 : |
A-28/3, MIDC, Chikalthana, Aurangabad – 431210, Maharashtra, India |
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Tel. No.: |
91-240-2484240 |
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Other Factories : |
Located at: ·
(Chittegaon)
Aurangabad Birganj (Nepal) |
DIRECTORS
AS ON 29.03.2014
|
Name : |
Adhyatma Bandhu Gupta |
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Designation : |
Managing director |
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Address : |
69, Hatkesh Cooperative Housing Society Limited, JVPD Scheme, Vile Parle (West), Mumbai - 400049, Maharashtra, India |
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Date of Birth/Age : |
10.12.1946 |
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Qualification : |
M.E. |
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Experience : |
43 Years |
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Date of Appointment : |
01.12.2013 |
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PAN No.: |
ACNPG1251E |
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DIN No.: |
00586777 |
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Other Directorship :
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Name : |
Mr. Ved Parkash Kumar |
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Designation : |
Director |
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Address : |
F-156, Richmond Park, DLF Phase-IV, Gurgaon - 122001, Haryana, India |
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Date of Birth/Age : |
03.03.1929 |
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Qualification : |
B. Com |
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Date of Appointment : |
29.09.1995 |
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DIN No.: |
05138130 |
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Name : |
Yugin Adhyatma Gupta |
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Designation : |
Director |
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Address : |
69, Hatkesh Cooperative Housing Society Limited, N.S. Road No.8, JVPD Scheme, Mumbai - 400049, Maharashtra, India |
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Date of Birth/Age : |
11.06.1979 |
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Qualification : |
BE and MBA |
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Date of Appointment : |
30.03.2013 |
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DIN No.: |
02365420 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Ms. Archana |
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Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.03.2014
|
Names of Shareholders |
|
No. of Shares |
|
Adhyatma Bandhu Gupta |
|
1440 |
|
Rekha A. Gupta |
|
2160 |
|
Sangeeta Gupta |
|
4320 |
|
Sanjana Holding Private Limited, India |
|
1620000 |
|
Globe Trotters Private Limited, India |
|
1710000 |
|
Karla Investment and Trading Private Limited, India |
|
1620000 |
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Rekha family Trust, India |
|
108720 |
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Adhyatma Investment Private Limited, India |
|
1620000 |
|
Concept Laboratories Private Limited, India |
|
513360 |
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A B Gupta jointly with R A Gupta |
|
4800000 |
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Total |
|
12000000 |
AS ON 29.03.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
59.00 |
|
Directors
or relatives of directors |
41.00 |
|
|
|
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Pharmaceuticals and its intermediates. |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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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 : |
Not Divulged |
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Bankers : |
· Canara Bank Fort Main Branch, PM Road, Mumbai - 400001, Maharashtra, India · Bank of Baroda Roorkee Branch, Roorkee - 247667, Uttarakhand, India · Canara Bank Consortium Industrial Finance Branch, Adi Marzban Path, Ballard Estate, Mumbai - 400038, Maharashtra, India · Industrial Development Bank of India Limited IDBI Tower, WTC Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India · HDFC Bank Limited State Bank of India
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Sanjay P Muthe and Company Chartered Accountants |
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Address : |
001 A Wing, Sai Jyote Lallunhai Park, Vile Parle [West],
Mumbai, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AADPM2432R |
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Related Parties
: |
· Sanjana Holdings Private Limited Karla Investment and Trading Private Limited Adhyatma Investment Private Limited Concept International, Globe Trotters Private Limited |
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|
|
|
Other related
parties where common control exists : |
· Concept Laboratories Private Limited Dynamic Machines Private Limited Concept Distribution Private Limited Pharma Electro Equipments Jovial Realtors Private Limited Rekha Family Trust Concept Pharmaceuticals (Nepal) Private Limited D B Promotors D B Estate Globe Trotters Private Limited |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 160.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 120.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF
FUNDS |
30.09.2013 |
30.09.2012 |
30.09.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
120.000 |
120.000 |
120.000 |
|
(b) Reserves & Surplus |
479.221 |
454.436 |
428.796 |
|
(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) |
599.221 |
574.436 |
548.796 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
111.483 |
116.604 |
96.208 |
|
(b) Deferred tax liabilities (Net) |
19.846 |
14.364 |
14.951 |
|
(c) Other long
term liabilities |
51.885 |
51.885 |
50.699 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
183.214 |
182.853 |
161.858 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
275.422 |
280.306 |
257.498 |
|
(b)
Trade payables |
126.296 |
124.793 |
128.074 |
|
(c)
Other current liabilities |
63.676 |
48.586 |
30.062 |
|
(d) Short-term
provisions |
41.294 |
35.671 |
29.973 |
|
Total Current
Liabilities (4) |
506.688 |
489.356 |
445.607 |
|
|
|
|
|
|
TOTAL |
1289.123 |
1246.645 |
1156.261 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
182.214 |
186.861 |
106.980 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
138.682 |
134.840 |
232.044 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
8.478 |
8.478 |
8.478 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
84.698 |
53.909 |
44.049 |
|
(e) Other
Non-current assets |
6.706 |
7.062 |
8.530 |
|
Total Non-Current
Assets |
420.778 |
391.150 |
400.081 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
6.451 |
6.565 |
6.514 |
|
(b)
Inventories |
247.677 |
308.122 |
266.666 |
|
(c)
Trade receivables |
486.075 |
437.613 |
402.434 |
|
(d) Cash
and cash equivalents |
27.692 |
19.774 |
18.020 |
|
(e)
Short-term loans and advances |
100.450 |
83.421 |
62.546 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
868.345 |
855.495 |
756.180 |
|
|
|
|
|
|
TOTAL |
1289.123 |
1246.645 |
1156.261 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
30.09.2013 |
30.09.2012 |
30.09.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
1368.391 |
1263.849 |
1081.017 |
|
|
|
Other Income |
16.438 |
8.771 |
28.660 |
|
|
|
TOTAL (A) |
1384.829 |
1272.620 |
1109.677 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
345.219 |
338.707 |
290.271 |
|
|
|
Purchases of Stock-in-Trade |
400.748 |
393.389 |
455.700 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
26.087 |
(31.095) |
(43.244) |
|
|
|
Employees benefits expense |
119.262 |
110.451 |
97.546 |
|
|
|
Other expenses |
285.212 |
270.251 |
226.502 |
|
|
|
TOTAL (B) |
1176.528 |
1081.703 |
1026.775 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
208.301 |
190.917 |
82.902 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
49.988 |
49.670 |
38.980 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
158.313 |
141.247 |
43.922 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
17.047 |
13.009 |
8.349 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
141.266 |
128.238 |
35.573 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
14.283 |
6.913 |
5.730 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
126.983 |
121.325 |
29.843 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
113.921 |
62.716 |
87.077 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.54 |
2.67 |
2.49 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
PARTICULARS |
30.09.2013 |
30.09.2012 |
30.09.2011 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash flow from (used in) Operations |
134.517 |
37.732 |
59.920 |
KEY
RATIOS
|
PARTICULARS |
|
30.09.2013 |
30.09.2012 |
30.09.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
9.28 |
9.60 |
2.76 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
15.22 |
15.11 |
7.67 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.37 |
11.62 |
3.88 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24 |
0.22 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.65 |
0.69 |
0.64 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.71 |
1.75 |
1.70 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
30.09.2011 |
30.09.2012 |
30.09.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
120.000 |
120.000 |
120.000 |
|
Reserves & Surplus |
428.796 |
454.436 |
479.221 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
548.796 |
574.436 |
599.221 |
|
|
|
|
|
|
Long-term borrowings |
96.208 |
116.604 |
111.483 |
|
Short term borrowings |
257.498 |
280.306 |
275.422 |
|
Total
borrowings |
353.706 |
396.910 |
386.905 |
|
Debt/Equity ratio |
0.645 |
0.691 |
0.646 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
30.09.2011 |
30.09.2012 |
30.09.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1081.017 |
1263.849 |
1368.391 |
|
|
|
16.913 |
8.272 |
NET PROFIT MARGIN
|
Net Profit Margin |
30.09.2011 |
30.09.2012 |
30.09.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1081.017 |
1263.849 |
1368.391 |
|
Profit |
29.843 |
121.325 |
126.983 |
|
|
2.76% |
9.60% |
9.28% |
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 |
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 |
No |
|
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 |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10204255 |
06/02/2010 |
185,000,000.00 |
BANK OF BARODA |
ROORKEE BRANCH, ROORKEE,
UTTARAKHAND - 247667, INDIA |
A79875266 |
|
2 |
90218558 |
21/08/1995 * |
1,700,000.00 |
CANARA BANK |
INDUSTRAIL
FINANCAE BRANCH; 307-308, RAHEJA CENTRE; NARIMAN POINT, BOMBAY, MAHARASHTRA -
400021, INDIA |
- |
|
3 |
90218193 |
27/06/1998 |
4,600,000.00 |
BANK OF BARODA |
KALINGA BRANCH,
BOMBAY, MAHARASHTRA, INDIA |
- |
|
4 |
90218126 |
05/09/1997 |
5,000,000.00 |
DENA BANK |
INDUSTRAIL FINANCE
BRANCH, BOMBAY, MAHARASHTRA - 400005, INDIA |
- |
|
5 |
90218118 |
07/08/1997 |
5,000,000.00 |
CANARA BANK |
RAHEJA CENTRE,
BOMBAY, MAHARASHTRA - 400021, INDIA |
- |
|
6 |
90218089 |
09/05/1997 |
10,000,000.00 |
BANK OF BARODA |
KALINGA BRANCH;
ARVIND NAGAR, KALINGA KURLA ROAD, |
- |
|
7 |
90218075 |
25/03/1997 |
11,000,000.00 |
DENA BANK |
INDUSTRAIL FINANCE
BRANCH, NARIMAN POINT, BOMBAY, MAHARASHTRA - 400005, INDIA |
- |
|
8 |
90218032 |
09/05/1997 * |
11,280,000.00 |
BANK OF BARODA |
KALINGA BRANCH;
ARVIND NAGAR, KALINGA KURLA ROAD, |
- |
|
9 |
90217998 |
22/04/1996 |
5,600,000.00 |
CANARA BANK |
INDUSTRAIL FINANCE
BRANCH; RAHEJA CENTRE, NARIMAN |
- |
|
10 |
90217945 |
06/02/2008 * |
365,000,000.00 |
CANARA BANK |
INDUSTRIAL FINANCE
BRANCH, RAHEJA CENTRE, NARIMAN |
A37268240 |
|
11 |
90217934 |
17/08/1995 |
5,400,000.00 |
DENA BANK |
INDUSTRAIL FINANCE
BRANCH; RAHEJA CENTRE, MAKER T |
- |
|
12 |
90217925 |
07/07/1995 |
5,400,000.00 |
OMAN INTERNATIONAL
BANK |
S.A.O.G.; 1-A;
MITTAL COURT, NARIMAN POINT, BOMBAY, MAHARASHTRA - 400021, INDIA |
- |
|
13 |
90217854 |
31/05/1996 * |
53,400,000.00 |
OMAN INTERNATIONAL
BANK |
SAOB; A-WING
MITTAL COURT, NARIMAN POINT, BOMBAY, MAHARASHTRA - 400021, INDIA |
- |
|
14 |
90217801 |
14/06/1994 |
603,000.00 |
BOMBAY MERCENTILE
CO.OP. BANK LIMITED |
BRANACHES CONTROL DEPARTMENT;
UTTAM HOUSE, 5TH FLOOR; 69; P. D'MELLO ROAD, BOMBAY, MAHARASHTRA - 400009,
INDIA |
- |
|
15 |
90217771 |
21/03/1994 |
203,000.00 |
BOMBAY MERCENTILE
CO.OP. BANK LIMITED |
OKAZ SHOPPING CENTRE;
MILLAT NAGAR, OSHIWARA, BOMBAY, MAHARASHTRA - 400061, INDIA |
- |
|
16 |
90217770 |
18/03/1994 |
10,000,000.00 |
BANK OF AMERICA |
EXPRESS BUILDING,
NARIMAN POINT, BOMBAY, MAHARASHTRA - 400021, INDIA |
- |
|
17 |
90217762 |
24/02/1994 |
1,700,000.00 |
CANARA BANK |
INDUSTRAIL FINANCE
BRANCH; 307-3087, RAHEJA CENTRE; NARIMAN POINT, BOMBAY, MAHARASHTRA - 400021,
INDIA |
- |
|
18 |
90217738 |
26/08/1996 * |
48,700,000.00 |
DENA BANK |
INDUSTRAIL FINANCE
BRANCH, CUFFE PARADE, BOMBAY, MAHARASHTRA - 400005, INDIA |
- |
|
19 |
90217723 |
02/11/1993 |
5,000,000.00 |
CANARA BANK |
INDUSTRAIL FINANCE
BRANCH; MAKER TOWER 'E', 9TH FLOOR; COLABA, BOMBAY, MAHARASHTRA - 400005,
INDIA |
- |
|
20 |
90217696 |
27/07/1993 |
12,800,000.00 |
CANARA BANK |
KALINGA BRANCH,
SANTACRUZ (W), BOMBAY, MAHARASHTRA - 400029, INDIA |
- |
|
21 |
90217690 |
29/06/1993 |
472,000.00 |
THE NORTH KANARA
CO.OP. BANK LIMITED |
361; LAXMI SADAN,
V.P. RAOD; GIRGAUM, BOMBAY, MAHARASHTRA - 400004, INDIA |
- |
|
22 |
90217662 |
16/03/1993 |
4,000,000.00 |
DENA BANK |
INDUSTRAIL FINANCE
BRANCH; E-9; MAKER TOWERS, CUFFE PARADE, BOMBAY, MAHARASHTRA - 400005, INDIA |
- |
|
23 |
90217645 |
27/01/1993 |
5,000,000.00 |
BOMBAY MERCENTILE
CO.OP. BANK LIMITED |
NAV RATAN ANNEXE; 69;
P. D'MELLO ROAD, NEAR CARNAC BANDER, BOMBAY, MAHARASHTRA - 400009, INDIA |
- |
|
24 |
90217623 |
30/10/1992 |
481,340.00 |
CANARA BANK |
KALINGA BRANCH;
POST BOX NO. 7056; B.B. MANSION, PLOT NO. 310; KALINA-KURLA ROAD;
KALINA, BOMBAY, MAHARASHTRA - 400029, INDIA |
- |
|
25 |
90217619 |
15/10/1992 |
1,100,000.00 |
CANARA BANK |
INDUSTRAIL FINANCE
BRANCH; MAKER TOWER 'E', 9TH FLOOR; COLABA, BOMBAY, MAHARASHTRA - 400005,
INDIA |
- |
|
26 |
90216180 |
15/02/1994 * |
14,200,000.00 |
THE STATE INDUSTRAIL
AND INVESTMENTCORPORATION OF |
'NIRMAL'; 1ST
FLOOR;, NARIMAN POINT, BOMBAY, MAHARASHTRA - 400021, INDIA |
- |
|
27 |
90217602 |
14/09/1998 * |
92,500,000.00 |
CANARA BANK |
INDUSTRAIL FINANCE
BRANCH, RAHEJA CENTRE; NARIMAN |
- |
|
28 |
90217575 |
01/05/1992 |
511,000.00 |
CANARA BANK |
KALINGA BRANCH;
POST BOX NO. 7056; B.B. MANSION, PLOT NO; 310; KALINA KURALA ROAD;
KALINA, BOMBAY, |
- |
|
29 |
90217569 |
25/03/1992 |
750,000.00 |
CANARA BANK |
KALINGA BRANCH;
POST BOX NO. 7056; B.B. MANSION, PLOT NO; 310; KALINA KURALA ROAD;
KALINA, BOMBAY, |
- |
|
30 |
90217562 |
21/02/1992 |
1,100,000.00 |
BANK OF BARODA |
KALINGA BRANCH,
BOMBAY, MAHARASHTRA, INDIA |
- |
* Date of charge modification
OPERATIONS
The sales during the year were Rs1320.132 Million against Rs. 1219.189
Million for the previous year, reflecting a growth of 8.28% over the previous
year. The management has taken steps to increase the sales in the domestic as
well as in the global markets.
Roorkee Plant Operations started in full swing and the company expects
big turnover in the coming year and also the work for obtaining regulatory
approvals are under progress.
EXPANSION AND
DIVERSIFICATION
To keep up the growth trends, the Company has to concentrate on expansion as well as diversification. The Directors would like to mention here below the salient points in this context relating to the period:
a) In view of the amendments made to the Drugs and Cosmetics Act, they have upgraded the facility by making civil changes and changes in air handling units by concealing the ducts and segregating the liquid washing and filling section. Further, air locks were incorporated within the liquid section. Adequate shelter has been provided to the unloading and loading bays.
b) R&D facilities have been upgraded by replacing some of the equipments.
c)
Roorkee Project: The company already commenced
commercial production in March, 2012.
CONTINGENT
LIABILITIES:
|
Particulars |
30.09.2013 (Rs.
In Million) |
30.09.2012 (Rs.
In Million) |
|
a) Bank Guarantees |
8.327 |
7.812 |
|
b) For Letters of Credit |
23.992 |
20.734 |
|
c) Export obligation on advance license utilized |
11.879 |
11.029 |
|
d) Excise Duty |
6.241 |
6.241 |
|
e) Sales Tax |
1.021 |
1.021 |
|
f) Income Tax |
7.854 |
7.854 |
|
g) Guarantees given |
57.200 |
57.200 |
|
h) Claims against the company |
2.820 |
2.745 |
FIXED ASSETS:
· Land
Buildings
Plant
and equipment
Furniture
and fixtures
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its
beneficial owners, controlling shareholders or senior officers as terrorist or
terrorist organization or whom notice had been received that all financial
transactions involving their assets have been blocked or convicted, found
guilty or against whom a judgement or order had been entered in a proceedings
for violating money-laundering, anti-corruption or bribery or international
economic or anti-terrorism sanction laws or whose assets were seized, blocked,
frozen or ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No 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. 66.38 |
|
|
1 |
Rs. 100.45 |
|
Euro |
1 |
Rs. 70.55 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
This score serves as a reference to
assess SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.