MIRA INFORM REPORT
|
Report No. : |
349929 |
|
Report Date : |
24.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
KILITCH DRUGS (INDIA) LIMITED |
|
|
|
|
Registered
Office : |
C-301/2, M.I.D.C. TTC Industrial Area, Pawane Village,
Thane - 400 705, Maharashtra |
|
Tel. No.: |
91-22-27670322 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
12.05.1992 |
|
|
|
|
Com. Reg. No.: |
11-066718 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 132.318 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24239MH1992PLC066718 |
|
|
|
|
IEC No.: |
0394053435 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK2917R |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Subject is engaged into manufacturing of marketing a host of
formulations in all dosage forms i.e. Solid, Liquid and Parenteral forms. |
|
|
|
|
No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3400000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Kilitch Drugs (India) Limited was incorporated in the year 1992. It is a pharmaceutical company, engaged into manufacturing of marketing a host of formulations in all dosage forms i.e. Solid, Liquid and Parenteral forms. The rating on company reflects its strong financial risk profile, capital structure backed by its zero debt balance sheet profile. The rating further takes consideration on company experienced promoters and well established track record of its operations. However, the company has incurred losses from its operations and recorded sharp decline into its cash and bank balance during the year under review. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. In view of aforesaid, the company can be considered normal for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION DECLINED BY
|
Name : |
Mr. Chitoor Seshadri Krishnan |
|
Designation : |
Chief Financial Officer |
|
Contact No.: |
91-22-27670322 |
|
Date : |
18.11.2015 |
LOCATIONS
|
Registered Office : |
C-301/2, M.I.D.C. TTC Industrial Area, Pawane Village, Thane - 400 705, Maharashtra, India |
|
Tel. No.: |
91-22-27670322, 27680913, 65144185 |
|
Fax No.: |
91-22-27680912 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Administrative
Office: |
Ujagar Industrial Estate, Unit No. 37, W.T. Patil Marg, Deonar, Mumbai - 400 088, Maharashtra, India |
|
Tel. No.: |
91- 22-67033322/61214100 |
|
Fax No.: |
91- 22-67031658 |
|
E-Mail : |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Mukund P Mehta |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. Paresh P Mehta |
|
Designation: |
Joint Managing Director |
|
|
|
|
Name : |
Mr. Bhavin M. Mehta |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Mira Mehta |
|
Designation : |
Whole time Director |
|
|
|
|
Name : |
Mr. Deepu Pannankattil |
|
Designation : |
Whole time Director |
|
|
|
|
Name : |
Mr. Mukesh Shah |
|
Designation : |
Independent Director |
|
|
|
|
Name : |
Mr. Pankaj Kamdar |
|
Designation : |
Independent Director |
|
|
|
|
Name : |
Mr. Shailesh Chheda |
|
Designation : |
Independent Director |
|
|
|
|
Name : |
Mr. Hemang Jagadish Engineer |
|
Designation: |
Independent Director |
|
|
|
|
Name : |
Mr. Ramesh Modi |
|
Designation : |
Independent Director |
KEY EXECUTIVES
|
Name : |
Mr. Chitoor Seshadri Krishnan |
|
Designation : |
Chief Financial Officer |
|
|
|
|
Name : |
Mr. Nirmal Kumar |
|
Designation : |
Company Secretary and Compliance Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2015
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
(1) Indian |
|
|
|
|
1801531 |
13.62 |
|
|
6629342 |
50.10 |
|
|
8430873 |
63.72 |
|
|
|
|
|
Total shareholding of Promoter
and Promoter Group (A) |
8430873 |
63.72 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
100 |
0.00 |
|
|
100 |
0.00 |
|
|
|
|
|
|
228628 |
1.73 |
|
|
|
|
|
Individual shareholders holding
nominal share capital up to Rs.0.100 million |
3215381 |
24.30 |
|
Individual shareholders holding
nominal share capital in excess of Rs.0.100 million |
996161 |
7.53 |
|
|
360685 |
2.73 |
|
|
70286 |
0.53 |
|
|
168593 |
1.27 |
|
|
121806 |
0.92 |
|
|
4800855 |
36.28 |
|
Total Public shareholding (B) |
4800955 |
36.28 |
|
Total (A)+(B) |
13231828 |
100.00 |
|
(C) Shares held by Custodians
and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
13231828 |
100.00 |
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%20LIMITED%20-%20349929%2024-Nov-2015_files/image017.gif){kind=small}
%20LIMITED%20-%20349929%2024-Nov-2015_files/image018.gif){kind=small}
%20LIMITED%20-%20349929%2024-Nov-2015_files/image020.gif)
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged into manufacturing of marketing a host of
formulations in all dosage forms i.e. Solid, Liquid and Parenteral forms. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
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|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
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|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management
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Bankers : |
|
|
Auditors : |
|
|
Name : |
A.M. Ghelani and Company Chartered Accountants |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary of the
Companies: |
|
|
|
|
|
Enterprises
significantly influenced by Key Managerial Personnel: |
|
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs. 10/- each |
Rs.200.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13231828 |
Equity Shares |
Rs. 10/- each |
Rs.132.318 Million |
|
|
|
|
|
Reconciliation of the
number of shares outstanding at the beginning and at the end of the reporting
period
|
Name of
Shareholder |
Number
of Shares |
Rs. In Million |
|
Equity Shares outstanding at the beginning of the year |
13231828 |
132.318 |
|
Additions during the year |
-- |
-- |
|
Equity Shares bought back during the year |
-- |
-- |
|
Equity Shares outstanding at the end of the year |
13231828 |
132.318 |
Shares in the company
held by each shareholder holding more than 5 percent shares
|
Name of
Shareholder |
Number
of Shares |
% of holding |
|
Paresh P. Mehta |
956785 |
7.23 |
|
Kilitch Company Pharma Limited |
6629342 |
50.10 |
The company has only one class of Equity Shares having a face value of Rs.10 per share. Each holder of Equity Share is entitled to one vote per share.
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 |
132.318 |
132.318 |
132.318 |
|
(b) Reserves & Surplus |
1067.436 |
1069.964 |
1058.200 |
|
(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) |
1199.754 |
1202.282 |
1190.518 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
1.508 |
2.543 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.000 |
1.508 |
2.543 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
23.552 |
46.803 |
134.776 |
|
(c) Other
current liabilities |
39.116 |
35.327 |
37.183 |
|
(d) Short-term
provisions |
5.464 |
4.770 |
3.630 |
|
Total Current
Liabilities (4) |
68.132 |
86.900 |
175.589 |
|
|
|
|
|
|
TOTAL |
1267.886 |
1290.690 |
1368.650 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
93.425 |
92.733 |
87.463 |
|
(ii)
Intangible Assets |
0.411 |
0.593 |
1.277 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
471.556 |
11.970 |
7.158 |
|
(c) Deferred tax assets (net) |
5.082 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
230.999 |
226.862 |
11.183 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
801.473 |
332.158 |
107.081 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
246.687 |
391.633 |
1082.771 |
|
(b)
Inventories |
23.812 |
25.990 |
15.392 |
|
(c) Trade
receivables |
126.230 |
86.340 |
123.979 |
|
(d) Cash
and cash equivalents |
49.802 |
438.526 |
29.407 |
|
(e) Short-term
loans and advances |
19.255 |
15.394 |
10.020 |
|
(f) Other
current assets |
0.627 |
0.649 |
0.000 |
|
Total
Current Assets |
466.413 |
958.532 |
1261.569 |
|
|
|
|
|
|
TOTAL |
1267.886 |
1290.690 |
1368.650 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
190.273 |
148.980 |
331.808 |
|
|
|
|
Other Income |
26.902 |
62.912 |
92.153 |
|
|
|
|
TOTAL (A) |
217.175 |
211.892 |
423.961 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
64.859 |
73.225 |
265.983 |
|
|
|
|
Variation in inventories of finished goods & work-in-progress |
5.302 |
(14.596) |
2.613 |
|
|
|
|
Employee Benefits Expenses |
31.280 |
28.576 |
30.345 |
|
|
|
|
Operating and Other expenses |
105.640 |
99.661 |
70.305 |
|
|
|
|
Extraordinary Items |
0.000 |
0.000 |
9.546 |
|
|
|
|
TOTAL (B) |
207.081 |
186.866 |
378.792 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
10.094 |
25.026 |
45.169 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.122 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
10.094 |
25.026 |
45.047 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
18.539 |
14.397 |
12.290 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G)
|
(8.445) |
10.629 |
32.757 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
(6.590) |
(1.135) |
(0.071) |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
(1.855) |
11.764 |
32.828 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
620.705 |
608.941 |
576.113 |
||
|
|
|
|
|
|
||
|
|
BALANCE CARRIED
TO THE B/S |
618.850 |
620.705 |
608.941 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export Sale |
95.131 |
133.203 |
171.686 |
|
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (Rs.) |
(0.14) |
0.89 |
2.48 |
||
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from / (used in) operating activities |
(76.317) |
(310.839) |
14.973 |
QUARTERLY
RESULTS
(Rs. In Million)
|
Particulars |
|
30.06.2015 (Unaudited) |
30.09.2015 (Unaudited) |
|
|
|
1st
Quarter |
2nd
Quarter |
|
Net sales |
|
39.940 |
43.110 |
|
Total Expenditure |
|
67.050 |
47.560 |
|
PBIDT (Excluding Other Income) |
|
(27.110) |
(4.450) |
|
Other income |
|
5.760 |
1.780 |
|
Operating Profit |
|
(21.350) |
(2.670) |
|
Interest |
|
NA |
NA |
|
Exceptional Items |
|
NA |
NA |
|
PBDT |
|
(21.350) |
(2.670) |
|
Depreciation |
|
3.910 |
3.910 |
|
Profit Before Tax |
|
(25.260) |
(6.580) |
|
Tax |
|
(0.350) |
(1.570) |
|
Provisions and contingencies |
|
NA |
NA |
|
Profit after tax |
|
(24.910) |
(5.010) |
|
Extraordinary Items |
|
NA |
NA |
|
Prior Period Expenses |
|
NA |
NA |
|
Other Adjustments |
|
NA |
NA |
|
Net Profit |
|
(24.910) |
(5.010) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin PAT / Sales |
(%) |
(0.97) |
7.90 |
9.89 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
5.31 |
16.80 |
13.61 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
(1.07) |
0.83 |
2.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.01) |
0.01 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.85 |
11.03 |
7.18 |
STOCK
PRICES
|
Face Value |
Rs.10.00/- |
|
Market Value |
Rs.37.60/- |
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 |
132.318 |
132.318 |
132.318 |
|
Reserves & Surplus |
1058.200 |
1069.964 |
1067.436 |
|
Net
worth |
1190.518 |
1202.282 |
1199.754 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
%20LIMITED%20-%20349929%2024-Nov-2015_files/image022.gif)
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 |
331.808 |
148.980 |
190.273 |
|
|
|
-55.101 |
27.717 |
%20LIMITED%20-%20349929%2024-Nov-2015_files/image024.gif)
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
|
331.808 |
148.980 |
190.273 |
|
Profit |
32.828 |
11.764 |
(1.855) |
|
|
9.89% |
7.90% |
(0.97%) |
%20LIMITED%20-%20349929%2024-Nov-2015_files/image026.gif)
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 |
No |
|
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 |
No |
|
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 |
REVIEW OF
OPERATIONS
During the year,
the Company has posted total Income of Rs.217.176 Million as against Rs.211.892
Million for the corresponding previous year. Further, Net Loss after tax for
the year was Rs.(1.855) Million as against a Net Profit of Rs.11.764 Million
for the corresponding previous year.
FUTURE OUTLOOK:
As they look
ahead, they have set clear goals and aspirations for their next set of
milestones. In the medium term, building on proven results, they are leveraging
the power of their carefully developed product portfolio, relationships built
over a long period and a diversified customer mix. Further, they have an
optimized cost structure, robust balance sheet and a highly seasoned
professional management. With the ongoing projects of 2 new manufacturing units
at Ethiopia and Burkina Faso and incorporation of latest technology and
capacity expansion at their Thane factory, they expect speedy positive growth
rates. Their Company is well placed to capitalize on the opportunities arising
out of such upcoming markets worldwide.
Combined with new
marketing and branding concepts and improved product portfolio, they will see
increased momentum in the coming years. Innovation and Quality remains at the
core of all Kilitch initiatives and hence they shall continue to invest in
R&D. Even though the economy remains subdued now, they believe it can grow
faster, due to the expansion of its international presence and innovative
product portfolio. Their company is well positioned to leverage on
opportunities worldwide.
Focus on Global
Business
Their company sets
the pace when it comes to providing innovative and customer-centric services to
the world’s emerging markets having footprints across the globe. Their strength
is defined by their major presence in most of the West African countries along
with few other African countries. They are now one of the major suppliers for
many of the Ministry of Health in Francophone countries particularly, Burkina
Faso. Their innovative product offerings have made us to enter successfully in
new emerging markets like South East Asia, CIS countries and Gulf countries. A
strong entrepreneurial spirit of their international alliance remains one of
their quickest and surest routes to success in the years ahead.
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10579714 |
29/04/2015 |
100,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDR |
C58784133 |
|
2 |
90141825 |
26/07/1996 * |
3,500,000.00 |
BANK OF BARODA |
PRARTHANA BAMAJ BRANCH, BOMBAY, MAHARASHTRA - 4000 |
- |
* Date of charge modification
CONTINGENT
LIABILITIES (AS ON 31.03.2015):
a. Estimated amount of guarantees and Letter of Credit given not provided for in the accounts is Rs.6.308 Million (Previous Year Rs.6.308 Million).
b. The disputed statutory dues in respect of Income Tax aggregating to Rs.50.306 Million pertaining to A.Y. 2008-09 have not been deposited as the matter is pending before the CIT (Appeals).
STANDALONE
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE 2015
(Rs. In Million)
|
Particulars |
Quarter Ended (Unaudited) |
|
|
30.06.2015 |
|
1.
Income from operations |
|
|
a) Net sales/ Income from operation (net of excise duty) |
39.574 |
|
b) Other operating income |
0.367 |
|
Total
income from Operations(net) |
70.2025 |
|
2.Expenditure |
|
|
a) Cost of material consumed |
29.835 |
|
b) Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
(1.324) |
|
c) Employees benefit expenses |
8.526 |
|
d) Depreciation and amortization expenses |
3.914 |
|
e) Export product registration charges |
1.465 |
|
f) Other expenditure |
28.544 |
|
Total expenses |
70.960 |
|
3. Profit from operations before other income and
financial costs |
(31.018) |
|
4. Other income |
5.762 |
|
5. Profit from ordinary activities before finance costs |
(25.256) |
|
6. Finance costs |
0.000 |
|
7. Net profit/(loss) from ordinary activities
after finance costs but before exceptional items |
(25.256) |
|
8. Exchange Currency Fluctuation Loss/ (Gain) |
0.000 |
|
9. Profit from ordinary activities before tax
Expense: |
(25.256) |
|
10.Tax expenses |
(0.352) |
|
11.Net Profit / (Loss) from
ordinary activities after tax (9-10) |
(24.905) |
|
12.Extraordinary Items (net of tax expense) |
0.000 |
|
13.Net Profit / (Loss) for the period (11 -12) |
(24.905) |
|
14.Paid-up equity share capital (Nominal value Rs.10/- per share) |
132.318 |
|
15. Reserve excluding Revaluation Reserves as per
balance sheet of previous accounting year |
|
|
16.i) Earnings per share (before extraordinary
items) of Rs.10/- each) (not annualised): |
|
|
(a) Basic and diluted |
(1.88) |
|
|
|
|
A. Particulars of shareholding |
|
|
1. Public Shareholding |
|
|
- Number of shares |
4697655 |
|
- Percentage of shareholding |
35.50 |
|
2. Promoters and Promoters group Shareholding- |
|
|
a) Pledged /Encumbered |
|
|
Number of shares |
|
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
0.000 |
|
Percentage of shares (as a % of total share capital of the
company) |
0.000 |
|
|
|
|
b) Non Encumbered |
|
|
Number of shares |
8534173 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
100 |
|
Percentage of shares (as a % of total share capital of the
company) |
64.50 |
|
|
|
|
|
|
|
B.
Investor Complaints |
|
|
Pending at the beginning of the quarter |
Nil |
|
Receiving during the quarter |
2 |
|
Disposed of during the quarter |
2 |
|
Remaining unreserved at the end of the quarter |
Nil |
NOTES:
1. The above results as reviewed by the audit committee have been taken on record by the Board of Directors at their meeting held on 14th August, 2015.
2. The Company has operated only in one reportable segment i.e. Pharmaceuticals.
3. The figures for the corresponding previous periods have been restated / regrouped, wherever necessary, to make them comparable with the current periods. Figures of the quarter ended 31-03-2015 are the balancing figures between the audited figures in respect of the full financial year F. Y. 2014-15 and published year to date figures upto the third quarter of the said financial year.
FIXED ASSETS
Tangible Assets
- Land
- Rights on Lease Hold Land
- Factory Building
- Office premises
- Plant and Machinery
- Furniture and Equipment
- Computer
- Motor Car
- Office Equipments
- Air Conditioners
- Electrical Installations
- Laboratory Equipments
- Mobile Phone
Intangible Assets:
- Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, 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.66.35 |
|
UK Pound |
1 |
Rs.100.66 |
|
Euro |
1 |
Rs.70.47 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
KVT / NKT |
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 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.