MIRA INFORM REPORT
|
Report No. : |
344874 |
|
Report Date : |
12.10.2015 |
IDENTIFICATION
DETAILS
|
Name : |
GLAND PHARMA LIMITED (w.e.f. 05.12.1994) |
|
|
|
|
Formerly Known
As : |
GLAND PHARMA PRIVATE LIMITED |
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|
|
|
Registered
Office : |
6-3-865/1/2, Flat No. 201, Greenland Apartments, Ameerpet, Hyderabad -
500016, Telangana |
|
Tel No.: |
91-40-23541535 |
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|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
20.03.1978 |
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|
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|
Com. Reg. No.: |
36-002276 |
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Capital
Investment / Paid-up Capital : |
Rs.117.585 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24239AP1978PLC002276 |
|
|
|
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IEC No.: |
0990002110 |
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|
|
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TAN No.: [Tax Deduction & Collection
Account No.] |
HYDG00199D |
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|
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PAN No.: [Permanent Account No.] |
AAACG8036B |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of pharmaceutical production and marketing, including manufacturer and sale of specialized injectable, active pharmaceutical ingredients (APIs) and formulations for generics versions of drugs. |
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No. of Employees
: |
Information declined by the management |
RATING
& COMMENTS
|
MIRA’s Rating : |
A (68) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavorable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 23819000 |
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|
|
|
Status : |
Good |
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Payment Behavior : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1978 and it is engaged in manufacturing pharmaceuticals ingredients. For the financial year ended 2014, company has reported 31.46% sales turnover growth as compared to previous sales turnover and it has maintained decent profitability margins at 22.59% during the year under a review. The rating also reflects company's healthy financial profile marked by adequate net worth base along with sound debt protection indicators and favorable liquidity position of the company. 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 |
FITCH |
|
Rating |
Long term issuer rating : A+ |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
04.08.2014 |
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.
INFORMATION
DECLINED
MANAGEMENT NON-COOPERATIVE
Contact No: (91-40-66621010)
LOCATIONS
|
Registered Office : |
6-3-865/1/2, Flat No. 201, Green Land Apartments, Ameerpet, Hyderabad
- 500016, Telangana, India |
|
Tel. No.: |
91-40-23541535
/ 66621010 |
|
Fax No.: |
91-40-23402229 |
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E-Mail : |
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Website : |
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Area : |
4000 Sq .ft |
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Location : |
Owned |
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Factory 1 : |
Plot No. 9, Anrich Industrial Estate,
Bollaram, Hyderabad
- 502325, Telangana, India |
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|
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Factory 2: |
D. P. Pally
Village, Dunogial P.O. Hyderabad-500016, Telangana,
India |
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Factory 3: |
Plot No. C1-C9,
Visakhapatnam Special Economic Zone (VSEZ), Duvvada, Visakhapatnam- 530046,
Andhra Pradesh, India |
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|
|
|
Branch Office: |
Near Ghandi
Maisamma “X” Roads, D. P. Pally, Hyderabad - 500043, Telangana, India |
DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Penmetsa Venkata Narasimha Raju |
|
Designation : |
Whole-time director |
|
Address : |
6-3-865/1/A/303, Green Land Apartments, Ameerpet, Hyderabad - 500016, Telangana, India |
|
Date of Birth/Age : |
28.05.1933 |
|
Date of Appointment : |
01.10.2009 |
|
DIN No.: |
00180021 |
|
PAN No.: |
AFIPP8042G |
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|
|
|
Name : |
Mr. Ravindranath Penmesta |
|
Designation : |
Managing Director |
|
Address : |
6-3-865/1/A/303, Green Land Apartments, Ameerpet, Hyderabad - 500016, Telangana, India |
|
Date of Birth/Age : |
11.10.1956 |
|
Date of Appointment : |
01.10.2009 |
|
DIN No.: |
00179939 |
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PAN No.: |
AHMPP1651R |
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|
|
|
Name : |
Mr. Mohammed Moheb Masthan Ali |
|
Designation : |
Director |
|
Address : |
8-2-676/B/12, Plot No.48, Sai Nagar Colony, Banjara Hills, Road No. 13, Hyderabad- 500034, Telangana, India. |
|
Date of Birth/Age : |
12.12.1943 |
|
Date of Appointment : |
29.09.2006 |
|
DIN No.: |
00699254 |
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|
|
|
Name : |
Mr. Udo Jahannes Vetter |
|
Designation : |
Director |
|
Address : |
Banneggstrabe 57, Ravenburg 88214, Germany |
|
Date of Birth/Age : |
23.11.1954 |
|
Date of Appointment : |
22.12.2007 |
|
DIN No.: |
00707474 |
|
|
|
|
Name : |
Mr. Sanjay Omprakash Nayar |
|
Designation : |
Nominee Director |
|
Address : |
Flat No. 9, The Rushilla Cooperative Housing Society Limited, 17/C, Carmicael Road, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
13.10.1960 |
|
Date of Appointment : |
17.06.2014 |
|
DIN No.: |
00002615 |
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|
|
|
Name : |
Mr. Karan Singh Swani |
|
Designation : |
Nominee Director |
|
Address : |
28A, Belvedere Court Building, Modern Mills, Compound Sane, Guruji Marg, Mahalaxmi, Mumbai – 400011, Maharashtra India |
|
Date of Birth/Age : |
04.08.1980 |
|
Date of Appointment : |
17.06.2014 |
|
DIN No.: |
06898342 |
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|
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|
Name : |
Mr. Davinder Singh Brar |
|
Designation : |
Director |
|
Address : |
Green Fields Farm, Gadaipur, Jaunapur Road, Village – Gadaipur, Tehsil Mehrauli, New Delhi – 110030, India |
|
Date of Birth/Age : |
21.08.1952 |
|
Date of Appointment : |
17.06.2014 |
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DIN No.: |
00068502 |
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|
|
|
Name : |
Mr. Narasimha Rao Bandreddi |
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Designation : |
Whole-time Director |
|
Address : |
7-1-48/5/3, Flat No. 401, Sai Madhavi, Enclave, Raja Sham Karam Road, Ameerpet, Hyderabad – 500016, Telangana, India |
|
Date of Birth/Age : |
01.01.1958 |
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Date of Appointment : |
17.06.2014 |
|
DIN No.: |
00071116 |
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|
|
|
Name : |
Mr. Srinivas Sadu |
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Designation : |
Whole-time Director |
|
Address : |
MIG -31, APIIC Colony, Moula Ali, Hyderabad – 500040, Telangana, India |
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Date of Birth/Age : |
15.04.1969 |
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Date of Appointment : |
17.06.2014 |
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DIN No.: |
06900659 |
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|
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|
Name : |
Kalidindi Jhansi Lakshmi |
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Designation : |
Additional Director |
|
Address : |
Flat No.301, H.No. 6-3-865, My Home Gardenia Apartment, Ameerpet, Hyderabad - 500016, Telangana, India |
|
Date of Appointment : |
04.08.2015 |
|
DIN No.: |
01197993 |
KEY
EXECUTIVES
|
Name : |
Mr. Sampath Kumar Pallerlamudi |
|
Designation : |
Secretary |
|
Address : |
Flat No.102, Venus Residency, Motinagar, Near E-Seva,., Hyderabad - 500018, Telangana, India |
|
Date of Appointment : |
17.12.2013 |
|
PAN No.: |
ALTPP1482D |
MAJOR SHAREHOLDERS
AS ON 29.09.2014
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companies (s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
52.15 |
|
Bodies corporate |
45.69 |
|
Directors or relatives of Directors |
2.16 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of pharmaceutical production and marketing, including manufacturer and sale of specialized injectable, active pharmaceutical ingredients (APIs) and formulations for generics versions of drugs. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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 : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors 1 : |
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|
Name : |
Y. Raghuram and Company Chartered Accountants |
|
Address : |
118, Phase –I, Kamalapuri, 8-3-833/ 118, Srinagar
Colony, Hyderabad - 500073, Telangana, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFY5141J |
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Auditors : |
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|
Name : |
S.R.batliboi and associates LLP Chartered Accountants |
|
Address : |
The Oval Office, 18 ILABS Centre, Madhapur, Hyderabad 500081, Telangana, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
ACHFS9118A |
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Memberships : |
-- |
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Collaborators : |
-- |
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Enterprises which
are owned, or have
significant influence of or are
partners with Key management personnel and their
relatives : |
Gland Chemicals Private Limited (U24110AP1974PTC001694) |
CAPITAL STRUCTURE
As on 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18000000 |
Equity Shares |
Rs.10/- each |
Rs.180.000 Million |
|
6300000 |
Preference Shares |
Rs.10/- each |
Rs.63.000 Million |
|
|
Total |
|
Rs. 243.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15672449 |
Equity Shares |
Rs.10/- each |
Rs.156.724
Million |
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16000000 |
Equity Shares |
Rs.10/- each |
Rs.160.000 Million |
|
1000000 |
Preference Shares |
Rs.10/- each |
Rs.10.000 Million |
|
|
Total |
|
Rs. 170.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11758494 |
Equity Shares |
Rs.10/- each |
Rs.117.585
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 |
117.585 |
117.585 |
117.585 |
|
(b) Reserves & Surplus |
8218.921 |
5980.129 |
4399.213 |
|
(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) |
8336.506 |
6097.714 |
4516.798 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
922.924 |
377.691 |
93.812 |
|
(b) Deferred tax liabilities
(Net) |
393.219 |
233.384 |
197.434 |
|
(c) Other long term
liabilities |
2.650 |
2.650 |
7.650 |
|
(d) long-term provisions |
4.088 |
10.903 |
5.373 |
|
Total
Non-current Liabilities (3) |
1322.881 |
624.628 |
304.269 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
582.645 |
850.444 |
750.784 |
|
(b) Trade payables |
984.749 |
557.852 |
536.476 |
|
(c) Other current liabilities |
1629.949 |
1027.654 |
1047.033 |
|
(d) Short-term provisions |
9.242 |
42.132 |
25.014 |
|
Total
Current Liabilities (4) |
3206.585 |
2478.082 |
2359.307 |
|
|
|
|
|
|
TOTAL |
12865.972 |
9200.424 |
7180.374 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4597.441 |
3085.640 |
2062.026 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
2078.770 |
2020.195 |
1427.455 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.525 |
0.525 |
0.275 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
215.120 |
99.011 |
25.992 |
|
(e) Other Non-current assets |
3.468 |
3.468 |
0.000 |
|
Total
Non-Current Assets |
6895.324 |
5208.839 |
3515.748 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3063.594 |
1676.489 |
1804.611 |
|
(c) Trade receivables |
1682.013 |
1279.139 |
920.843 |
|
(d) Cash and cash equivalents |
771.039 |
913.064 |
840.684 |
|
(e) Short-term loans and
advances |
265.718 |
118.181 |
90.531 |
|
(f) Other current assets |
188.284 |
4.712 |
7.957 |
|
Total
Current Assets |
5970.648 |
3991.585 |
3664.626 |
|
|
|
|
|
|
TOTAL |
12865.972 |
9200.424 |
7180.374 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
9909.206 |
7553.450 |
5266.697 |
|
|
Other Income |
85.351 |
48.879 |
138.849 |
|
|
TOTAL
|
9994.557 |
7602.329 |
5405.546 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
4300.663 |
3577.661 |
2797.205 |
|
|
Purchases of Stock-in-Trade |
123.854 |
93.742 |
65.299 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(299.945) |
(52.880) |
3.107 |
|
|
Employees benefits expense |
814.354 |
659.9 |
460.023 |
|
|
Other expenses |
1364.188 |
913.956 |
610.155 |
|
|
TOTAL
|
6303.114 |
5192.379 |
3935.789 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
3691.443 |
2409.950 |
1469.757 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
133.759 |
129.570 |
27.691 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
3557.684 |
2280.380 |
1442.066 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
284.235 |
145.658 |
108.207 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
3273.449 |
2134.722 |
1333.859 |
|
|
|
|
|
|
|
Less |
TAX |
1034.657 |
553.806 |
321.591 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
2238.792 |
1580.916 |
1012.268 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4762.641 |
3183.725 |
2173.457 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
NA |
2.000 |
2.000 |
|
|
Balance
Carried to the B/S |
NA |
4762.641 |
3183.725 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
NA |
NA |
3848.179 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
190.40 |
134.45 |
86.09 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
256.284 |
6.983 |
73.924 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
2144.941 |
1832.217 |
1482.589 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
22.59 |
20.93 |
19.22 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
37.25 |
31.91 |
27.91 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
30.35 |
29.73 |
23.19 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.39 |
0.35 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.21 |
0.20 |
0.20 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.86 |
1.61 |
1.55 |
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 |
117.585 |
117.585 |
117.585 |
|
Reserves & Surplus |
4399.213 |
5980.129 |
8218.921 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
4516.798 |
6097.714 |
8336.506 |
|
|
|
|
|
|
long-term borrowings |
93.812 |
377.691 |
922.924 |
|
Short term borrowings |
750.784 |
850.444 |
582.645 |
|
Current maturities of
long-term debts |
73.924 |
6.983 |
256.284 |
|
Total
borrowings |
918.520 |
1235.118 |
1761.853 |
|
Debt/Equity
ratio |
0.203 |
0.203 |
0.211 |
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 |
5266.697 |
7553.450 |
9909.206 |
|
|
|
43.419 |
31.188 |
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 |
5266.697 |
7553.450 |
9909.206 |
|
Profit |
1012.268 |
1580.916 |
2238.792 |
|
|
19.22% |
20.93% |
22.59% |
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 |
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) |
Yes |
|
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Deferred sales tax loan |
69.361 |
70.487 |
|
Total |
69.361 |
70.487 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10378069 |
31/01/2013 * |
1,000,000,000.00 |
ICICI BANK LIMITED |
ICICI BANK TOWERS, PLOT NO.12, GACHIBOWLI, HYDERA |
B68366657 |
|
2 |
10364728 |
14/09/2012 * |
1,000,000,000.00 |
SYNDICATE BANK |
CORPORATE FINANCE BRANCH, 6-3-666, FIRST FLOOR, L |
B60102928 |
|
3 |
80010582 |
11/01/2014 * |
1,400,000,000.00 |
THE BANK OF NOVA SCOTIA |
6-3-346/1, ROAD NO 1, BANJARAHILLS, HYDERABAD, AN |
B94861333 |
|
4 |
80010646 |
26/03/2013 * |
1,800,000,000.00 |
SYNDICATE BANK |
CORPORATE FINANCE BRANCH, 6-3-666, FIRST FLOOR, L |
B73576241 |
* Date of charge modification
CONTINGENT
LIABILITIES:
(Rs. in Million)
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
Outstanding bank guarantees |
43.929 |
43.583 |
|
Indirect tax cases against the Company |
10.128 |
10.128 |
|
Claims against the Company not acknowledged as debts |
23.048 |
3.895 |
|
The Company entered into a Secondary manufacturing agreement (agreement) dated April 19, 2002 with Genemedix PLC (Genemedix). As part of the agreement, Genemedix was required to install Lyophilzer in Company’s factory and provide Company with raw material for performing secondary manufacturing. In 2002, Genemedix installed the asset, however, since, did not supply raw material for secondary manufacturing till 2008. In 2008, Genemedix claimed for return of the Lyophilizer and USD 8,646,705 for commercial usage of Lyophilizer during last 6 years. The Company denied all the claims and filed a counter claim on July 14, 2008 claiming damages of USD 12,176,423 for loss of production during the installation and dismantling of machinery. The case is pending before the Sole Arbitrator Sri Justice B.P. Jeevan Reddy. Based on internal assessment and / or advice from legal counsellors the management is confident that no provision is required to be made for the above contingent liabilities as at March 31, 2014. |
||
FIXED ASSETS:
Tangible assets
- Land
- Buildings
- Plant and Machinery
- Furniture and
Fixtures
- Office
Equipment
- Vehicles
- Computer equipments
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.64.78 |
|
|
1 |
Rs.99.54 |
|
Euro |
1 |
Rs.73.08 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SANS |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
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 |
|
68 |
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.