MIRA INFORM REPORT
|
Report No. : |
351761 |
|
Report Date : |
30.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
HETERO LABS LIMITED (w.e.f. 07.06.2001) |
|
|
|
|
Formerly Known
As: |
HETERO LABS PRIVATE LIMITED (w.e.f. 30.05.1997) PHARMASIA LABORATORIES PRIVATE LIMITED (w.e.f 30.12.1992) PERMILA DRUGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
7-2-A2, Hetero Corporate Industrial Estate, Sanathnagar, Hyderabad –
500018, Telangana |
|
Tel No.: |
91-40-23704923 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
10.03.1989 |
|
|
|
|
Com. Reg. No.: |
01-009723 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 13.320
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110TG1989PLC009723 |
|
|
|
|
IEC No.: |
0997003006 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACH5506R |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is primarily engaged in the manufacturing of APIs and finished
dosages formulations (FDF). |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (70) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 4300000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject was incorporated in 1989 and it is the flagship company of the
Hetero group. The company is a pharmaceutical company primarily engaged in
the manufacturing of APIs and finished dosages formulations (FDF). For the financial year ended 2014, company has reported 36.41% sales
turnover growth as compared to previous sales turnover and it has maintained
decent profitability margins at 10.12% during the year under a review. Rating continue to draw strength from the fact that the company is a
part of the Hetero group, the promoters rich experience in pharmaceutical
business, strong products portfolio of formulations and active pharmaceutical
ingredients. Rating also takes into consideration company’s healthy financial
profile marked by strong networth base along with healthy debt coverage
indicators and sound liquidity positions Rating strength is partially offset by working capital intense nature
of business operations and highly fragmented industry with many unorganized
players. Trade relations are reported as fair. 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.
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 |
CARE |
|
Rating |
Long Term Bank Facility = A+ |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
03.12.2014 |
|
|
|
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facility = A1 |
|
Rating Explanation |
Very Strong degree of safety and low credit risk. |
|
Date |
03.12.2014 |
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.
LOCATIONS
|
Registered Office : |
7-2-A2, Hetero Corporate Industrial Estate, Sanathnagar, Hyderabad – 500018,
Telangana, India |
|
Tel. No.: |
91-40-23704923 |
|
Fax No.: |
91-40-23704923/23714250 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory: |
Located at:
|
|
|
|
|
Marketing Office: : |
Located at:
|
DIRECTORS
As on 25.09.2014
|
Name : |
Dr. Bandi Partha Saradhi Reddy |
|
Designation : |
Managing Director |
|
Address : |
Plot No. 389, Road No. 22/B, Jublihills Chequepost, Madhapoor Road, Hyderabad – 500038, Telangana, India |
|
Date of Birth/Age : |
06.03.1954 |
|
Qualification : |
PHD in Organic Chemistry |
|
Date of Appointment : |
01.11.2011 |
|
DIN No.: |
00015899 |
|
PAN No.: |
AAJPB7067K |
|
|
|
|
Name : |
Mr. Vamsikrishna Bandi |
|
Designation : |
Whole-time director |
|
Address : |
Plot No.389, Road No.22/B, Jubilee Hills, Check-Post, Hyderabad-500033, Telangana, India |
|
Date of Birth/Age : |
31.07.1983 |
|
Date of Appointment : |
01.05.2011 |
|
DIN No.: |
01014619 |
|
PAN No.: |
AIPPB1881R |
|
|
|
|
Name : |
Mr. Attunuri Venkata Narasa Reddy |
|
Designation : |
Whole-time director |
|
Address : |
H. No. 8-3-678/61, Pragathi Nagar Colony, Yosufguda, Hyderabad – 500018, Telangana, India |
|
Date of Birth/Age : |
21.12.1963 |
|
Date of Appointment : |
11.03.1999 |
|
DIN No.: |
00023432 |
|
|
|
|
Name : |
Mr. Mohan Reddy Chilukuri |
|
Designation : |
Whole Time Director |
|
Address : |
Plot No.54, Green Avenue, Nizampet Road, Nizampet, Hyderabad – 500000, Telangana, India |
|
Date of Birth/Age : |
02.01.1969 |
|
Date of Appointment : |
01.04.2012 |
|
DIN No.: |
00208921 |
|
|
|
|
Name : |
Mr. Srinivas Reddy Male |
|
Designation : |
Director |
|
Address : |
8-2-293/82/NL/138, Road No.10C, Plot No.138/139, MP/MLA Colony, Jubilee Hills, Hyderabad - 500033, Telangana, India |
|
Date of Birth/Age : |
02.02.1973 |
|
Qualification : |
MBA. Marketing |
|
Date of Appointment : |
01.08.2013 |
|
DIN No.: |
00016085 |
|
|
|
|
Name : |
Mr. Rathnakar Reddy Kura |
|
Designation : |
Director |
|
Address : |
Villa No.148, Indu Fortune Fields, 13th Phase, KPHB Colony, Hyderabad - 500072, Telangana, India |
|
Date of Appointment : |
02.06.2014 |
|
DIN No.: |
00211510 |
|
|
|
|
Name : |
Mr. Gopal Reddy Annareddy |
|
Designation : |
Additional Director |
|
Address : |
8-2-293/82/JIII/511, Phase - III, Road No.86, Jubilee Hills, Hyderabad - 500033, Telangana, India |
|
Date of Appointment : |
08.10.2015 |
|
DIN No.: |
07306495 |
|
|
|
|
Name : |
Ms. Kalavathi Bandi |
|
Designation : |
Additional Director |
|
Address : |
Plot No-389,Road No 22-B, Jubilee Hills, Hyderabad - 500033, Telangana, India |
|
Date of Appointment : |
01.04.2015 |
|
DIN No.: |
00194597 |
|
|
|
|
Name : |
Mr. Rajasekhara Reddy |
|
Designation : |
Additional Director |
|
Address : |
Flat No B - 02, MCH No 8-2-416, Stone Valley Apartments, Road No 4, Banjara Hills, Hyderabad, 500034, Telangana, India |
|
Date of Appointment : |
12.06.2015 |
|
DIN No.: |
02339668 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.09.2014
|
Names of Shareholders |
No. of Shares |
%age |
|
B. Partha Saradhi Reddy |
282860 |
21.24 |
|
M. Srinivas Reddy |
200 |
0.02 |
|
B. Kalavathi |
160740 |
12.07 |
|
M. Krishna Sindhuri |
150000 |
11.26 |
|
B. Vamsi Krishna |
398000 |
29.88 |
|
B. Soma Kantham |
200 |
0.02 |
|
M. Krishna Karthikeya Reddy |
146900 |
11.03 |
|
B. Srinivasula Reddy |
200 |
0.02 |
|
B. Anvida |
46000 |
3.45 |
|
M. Krishna Sahithi |
146900 |
11.03 |
|
Total |
1332000 |
100.00 |
As on 25.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is primarily engaged in the manufacturing of APIs and finished
dosages formulations (FDF). |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Available |
||||
|
|
|
||||
|
Imports : |
Not Available |
||||
|
|
|
||||
|
Terms : |
Not Available |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
M. V. Narayana Reddy and Company Chartered Accountants |
|
Address : |
D. No. 8-3-941, Flat No. 504, Vijayasree Apartments, Opposite Kamma Sangham,
Ameerpet, Hyderabad – 50007, Telangana, India |
|
Tel. No.: |
91-40-23743975 /
23744448 |
|
PAN No.: |
AADFM4830F |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and
their relatives : |
|
|
|
|
|
Subsidiary
company |
|
|
|
|
|
Joint venture |
|
|
|
|
|
Fellow Subsidiary
company |
|
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1320000 |
Equity Shares |
Rs.10/- each |
Rs.13.320
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
13.320 |
13.320 |
13.320 |
|
(b) Reserves & Surplus |
15193.981 |
11449.970 |
9651.664 |
|
(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) |
15207.301 |
11463.290 |
9664.984 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3531.524 |
3559.593 |
2768.186 |
|
(b) Deferred tax liabilities (Net) |
1199.897 |
1071.107 |
735.668 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
95.243 |
74.408 |
49.947 |
|
Total Non-current
Liabilities (3) |
4826.664 |
4705.108 |
3553.801 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
10090.177 |
9435.509 |
7778.435 |
|
(b) Trade
payables |
4753.913 |
4808.864 |
3973.460 |
|
(c) Other
current liabilities |
3085.584 |
2563.013 |
1740.905 |
|
(d) Short-term
provisions |
126.594 |
110.383 |
78.292 |
|
Total Current
Liabilities (4) |
18056.268 |
16917.769 |
13571.092 |
|
|
|
|
|
|
TOTAL |
38090.233 |
33086.167 |
26789.877 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
10448.326 |
9919.285 |
7789.060 |
|
(ii)
Intangible Assets |
68.965 |
17.902 |
21.693 |
|
(iii)
Capital work-in-progress |
2845.841 |
1477.437 |
2373.585 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1004.939 |
888.107 |
391.607 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
922.041 |
1100.254 |
1019.898 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
15290.112 |
13402.985 |
11595.843 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
8998.963 |
9310.699 |
7382.000 |
|
(c) Trade
receivables |
11916.555 |
9287.242 |
6686.970 |
|
(d) Cash
and cash equivalents |
321.995 |
189.818 |
230.974 |
|
(e)
Short-term loans and advances |
638.051 |
57.225 |
68.188 |
|
(f) Other current
assets |
924.557 |
838.198 |
825.902 |
|
Total
Current Assets |
22800.121 |
19683.182 |
15194.034 |
|
|
|
|
|
|
TOTAL |
38090.233 |
33086.167 |
26789.877 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
Income |
37301.511 |
27605.375 |
20381.480 |
|
|
|
Other Income |
752.562 |
291.542 |
47.902 |
|
|
|
|
TOTAL |
38054.073 |
27896.917 |
20429.382 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
Cost of Materials Consumed |
22096.168 |
14987.593 |
13605.379 |
|
|
|
Purchases of Stock-in-Trade |
116.785 |
457.716 |
344.046 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(262.222) |
746.356 |
(1905.333) |
|
|
|
Employees benefits expense |
1975.151 |
1466.736 |
980.549 |
|
|
|
Other expenses |
6886.758 |
5541.959 |
3786.144 |
|
|
|
|
TOTAL |
30812.640 |
23200.360 |
16810.785 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
7241.433 |
4696.557 |
3618.597 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1683.453 |
1465.230 |
870.778 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
5557.980 |
3231.327 |
2747.819 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
585.846 |
524.330 |
398.001 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX |
4972.134 |
2706.997 |
2349.818 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1198.262 |
878.713 |
749.832 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
3773.872 |
1828.284 |
1599.986 |
|
|
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
|
F.O.B. Value of Exports |
25148.290 |
16929.380 |
NA |
|
|
|
TOTAL
EARNINGS |
25148.290 |
16929.380 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
Raw Materials |
10772.060 |
7644.620 |
NA |
|
|
|
Capital Goods |
497.920 |
139.600 |
NA |
|
|
|
TOTAL IMPORTS |
11269.98 |
7784.22 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss)
Per Share (Rs.) |
2833.24 |
1372.51 |
1201.19 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
1517.542 |
1157.742 |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
4702.074 |
1515.6,66 |
NA |
|
Net cash flow from operating activity |
3644.081 |
987.890 |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
10.12 |
6.62 |
7.85 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
19.41 |
17.01 |
17.75 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.52 |
8.81 |
9.78 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33 |
0.24 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.90 |
1.13 |
1.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26 |
1.16 |
1.12 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
13.320 |
13.320 |
13.320 |
|
Reserves & Surplus |
9651.664 |
11449.970 |
15193.981 |
|
Net
worth |
9664.984 |
11463.290 |
15207.301 |
|
|
|
|
|
|
long-term borrowings |
2768.186 |
3559.593 |
3531.524 |
|
Short term borrowings |
7778.435 |
9435.509 |
10090.177 |
|
Total
borrowings |
10546.621 |
12995.102 |
13621.701 |
|
Debt/Equity
ratio |
1.091 |
1.134 |
0.896 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
20381.480 |
27605.375 |
37301.511 |
|
|
|
35.443 |
35.124 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
20381.480 |
27605.375 |
37301.511 |
|
Profit |
1599.986 |
1828.284 |
3773.872 |
|
|
7.85% |
6.62% |
10.12% |
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 |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
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 |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
|
ITTA 92/2015 |
ITTASR 403/2015 |
Case Status : Pending |
|||
|
PETTIONER |
THE PR COMMISSIONER OF INCOM TAX (CENTRAL) |
RESPONDENT |
VS HETERO LABS LIMITED |
||
|
Pet’s Adv:- |
PRASAD (SC FOR INCOME TAX) |
Resp. Adv.: |
HARI |
||
|
SUBJECT : |
U/Sec. 143 Assessment |
DISTRICT |
HYDERABAD |
||
|
FILLING DATE : |
10.03.2015 |
POSTING STAGE : |
FOR ADMISSION AND HEARING |
||
|
REG. DATE |
15.06.2015 |
LISTING DATE |
02.07.2015 |
||
|
STATUS |
ADMIT |
HON’BLE JUDGE (S) |
G. CHANDRAIAH CHALLA KODANDA RAM |
||
NOTE : The Registered office of the company has been
shifted from H .NO. 8-3-166/1 AND 2 Challa Estates, First Floor, Erragadda,
Hyderabad – 500018, Andhra Pradesh, India to the present address (w.e.f
31.07.2009)
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
SHORT TERM
BORROWING |
|
|
|
Loans Repayable On Demand From Bank |
695.794 |
1369.591 |
|
Total |
695.794 |
1369.591 |
REVIEW OF
PERFORMANCE :
The
Company has recorded its highest ever revenue of Rs.38054.070 Million. Earnings
before Interest, Tax, Depreciation and Amortisation (EBIDTA) recorded a growth
of 56.93 % to reachRs. 7370.370 Million. and Profit After Tax (PAT) grew to
Rs.3773.870 Million. recording a growth of 106.41 % over Rs. 1828.310
Million. achieved in the previous year. Reduction in Raw material consumption
due to improved production process and cycle time, Lower overhead costs, has increased
the profitability. Exports increased to Rs. 25940.400 Million as compared to
Rs. 17738.270 Million. in the
previous year registering an export growth of 46.24%. Increase in
exports sales is on account of approval of product registrations already filed
in earlier
years.
The Company's APIs
business increased to Rs 9638.810 Million. During the fiscal, compared to
Rs9357.540 Million. During 2012-13 registering a growth of 3.01%. API Segment
Exports increased to Rs.5148.11 Million. As compared to Rs.4306.21 Million. In
the previous year registering an export growth of 20%.
The Company's
formulation business increased to Rs. 28166.520 Million. During the fiscal,
compared to Rs. 18712.250 Million. During 2012-13. Formulation revenues were
higher by 50.19% over the previous year on account of increase in formulation
operations. Formulation Segment Exports increased to Rs20792.28 Million. As
compared to Rs.13432.06 Million. In the previous year registering an export
growth of 35.4%
FINANCE
The Company incurred finance cost of Rs.1812.390 Million during the year
which is 24% higher than the previous year on account of increase in volume of
operations and costs as well as higher cost of borrowings together with
depreciation of rupee against major currencies.
The Company has repaid term loans of Rs.1146.100 Million during the year
and availed fresh term loans of Rs.1261.100 Million to part finance capital
expenditure during the year. The total term loans of the Company stood at
Rs.5049.070 Million as on March 31, 2014.
OUTLOOK
Hetero during the
past 4 years has developed assets for growth. People, products, Infrastructure
and improved relationship with some of the big pharma Companies across the
globe are the key drivers for growth of the Company. The Company is perceived
as preferred and reliable supplier by its customers.
The order flow remains encouraging and is
being met with improved manufacturing efficiencies of pharmaceutical formulations,
intermediates and Active Pharmaceuticals ingredients through process
improvement and development.
Hetero is working
to improve manufacturing process, optimize costs, reduce waste and operational
expenditure, increase cash flow, rationalize manpower, protect margins, report
positive earnings and risk the business.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10478286 |
21/01/2014 |
2,126,200,000.00 |
BANK OF INDIA |
HYDERABAD LARGE CORPORATE BRANCH,10-1-1199/2, 1ST FLOOR,
P.T.I.BUILDING, A.C.GUARDS, MASAB TANK, HYDERABAD- 500004, TELANGANA, INDIA |
B96678909 |
|
2 |
10467942 |
19/12/2013 |
1,200,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE COMPLEX, CUFFE
PARADE, MUMBA- 400005I, MAHARASHTRA, INDIA |
B92651371 |
|
3 |
10461509 |
28/10/2013 |
1,257,000,000.00 |
DBS Bank Limited |
SALARPURIA WINDSOR, NO.3, ULSOOR ROAD, BENGALURU- 560042, |
B90049834 |
|
4 |
10421516 |
26/12/2013 * |
4,186,400,000.00 |
State Bank of India |
INDUSTRIAL FINANCE BRANCH, RAJBHAVAN ROAD, SOMAJ |
B94525177 |
|
5 |
10308989 |
14/09/2011 |
250,000,000.00 |
STATE BANK OF MYSORE |
INDUSTRIAL FINANCE BRANCH, MY HOME JUPALLY, AMEERPET, HYDERABAD-
500038, TELANGANA, INDIA |
B22035851 |
|
6 |
10283954 |
28/09/2013 * |
9,315,000,000.00 |
ANDHRA BANK |
SPECIALIZED CORPORATE FINANCE BRANCH, 6-3-648,3RD |
B87173050 |
|
7 |
10283970 |
26/03/2011 |
500,000,000.00 |
ANDHRA BANK |
SPECIALISED CORPORATE FINANCE BRANCH, 3RD FLOOR, |
B12030003 |
|
8 |
10273568 |
29/12/2011 * |
1,000,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTR |
B28834844 |
|
9 |
10257057 |
07/12/2010 |
500,000,000.00 |
ANDHRA BANK |
SPECIALISED CORPORATE FINANCE BRANCH, 3RD FLOOR, |
B01508654 |
|
10 |
10257800 |
16/11/2010 |
500,000,000.00 |
STATE BANK OF HYDERBAD |
SANATHNAGAR BRANCH, INDUSTRIAL ESTATE, SANATHNAGA |
B00572214 |
FIXED ASSETS
- Land and Site Development
- Factory Building
- Electrical Equipment
- R and D Equipment
- ETP Machinery
- Furniture and Fixture
- Office Equipments
- Vehicles
- Computers
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.66.75 |
|
|
1 |
Rs.100.67 |
|
Euro |
1 |
Rs.70.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
RKI |
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 |
8 |
|
--PROFITABILITY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--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 |
YES |
|
--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 |
|
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.