MIRA
INFORM REPORT
|
Report No. : |
346083 |
|
Report Date : |
19.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
MACLEODS
PHARMACEUTICALS LIMITED |
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|
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Formerly Known
As : |
MACLEODS PHARMACEUTICALS PRIVATE LIMITED |
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Registered
Office : |
304, 3rd
Floor, |
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Tel. No.: |
91-22-67695800 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
05.06.1989 |
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Com. Reg. No.: |
11-052049 |
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Capital
Investment / Paid-up Capital : |
Rs.199.607 Million |
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CIN No.: [Company Identification
No.] |
U24239MH1989PLC052049 |
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IEC No.: |
0391172867 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM19656A |
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PAN No.: [Permanent Account No.] |
AAACM4100C |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in manufacturing and developing business of pharmaceutical and related activities, including research. |
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No. of Employees
: |
10000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (67) |
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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 |
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Maximum Credit Limit : |
USD 47674000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is an old and established company incorporated in the year
1989 having fine track. Available financial indicates company’s strong financial risk profile
marked by healthy networth position with negligible debt recorded and decent
profit margin of the company. Fundamentals of the company are strong and healthy. The rating also takes into consideration rich experience of its
promoters, long established track record and strong operating efficiency of
the company. Trade relations reported as fair. Business is active. Payment are
reported as regular and as per commitment. In view of long track record and strong financial base, the company can
be considered good for normal business dealing 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 |
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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 |
Term Loan = AA |
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Rating Explanation |
High degree of
safety and carry low credit risk. |
|
Date |
May, 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 PARTED BY
|
Name : |
Mr. Atul Gaonkar |
|
Designation : |
Purchase Manager |
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Contact No.: |
91-9867023956 |
|
Date : |
19.10.2015 |
LOCATIONS
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Registered Office : |
304, 3rd
Floor, Atlanta Arcade, Marol Church Road, Andheri (East), Mumbai – 400 059,
Maharashtra, India |
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Tel. No.: |
91-22-67695800 |
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Fax No.: |
91-22-28266229/ 29256599 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Locality : |
Commercial |
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Head Office: |
G-2, Saket Building, M.I.D.C. Shanti Nagar, Next to Onida House, Mahakali
Caves Road, Andheri (East), Mumbai – 400093, Maharashtra, India |
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Factory 1 : |
Village: Theda, Kharuni- Lodimajra, Thehesil- Nalagarh, Baddi Industrial Estate Area, District: Solan, Himachal Pradesh, India |
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Factory 2 / Daman- Premier- Unit II : |
Plot no. 25-27, Survey No. 366, Premier Industrial Estate, Kachigam, Daman – 396 320, Daman and Diu, India |
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Factory 3 : |
Plot No.2209, GIDC Sarigam, District: Valsad, Gujarat, India |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Banwarilal Murildhar Bawri |
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Designation : |
Managing Director |
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Address : |
5, Vinayak Heights, Upper Govind Nagar, Malad (East), Mumbai – 400 097, Maharashtra, India |
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Date of Birth/Age : |
02.04.1953 |
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Qualification : |
D. Pharm |
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Date of Appointment : |
01.04.2010 |
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DIN No.: |
00017795 |
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Other Directorship
:
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Name : |
Dr. Rajendra Murlidhar Agarwal |
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Designation : |
Managing Director |
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Address : |
5, Vinayak Heights, Upper Govind Nagar, Malad (East), Mumbai – 400 097, Maharashtra, India |
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Date of Birth/Age : |
25.02.1959 |
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Qualification : |
M.B.B.S. |
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Date of Appointment : |
01.04.2010 |
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DIN No.: |
00034224 |
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Other Directorship:
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Name : |
Mr. Girdharilal Murlidhar Bawri |
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Designation : |
Director |
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Address : |
5, Vinayak Heights, Upper Govind Nagar, Malad (East), Mumbai – 400 097, Maharashtra, India |
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Date of Birth/Age : |
03.08.1947 |
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Qualification : |
B. Com / D. Pharma |
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Date of Appointment : |
22.05.1990 |
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DIN No.: |
00034197 |
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Other Directorship
:
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Name : |
Dr. Ruchi Rajendra Agarwal |
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Designation : |
Director |
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Address : |
5/6 Vinayak Heights, Upper Govind Nagar, Malad East, Mumbai - 400097, Maharashtra, India |
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Date of Appointment : |
30.03.2015 |
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DIN No.: |
07139918 |
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Name : |
Dr. Sanjay Rajdev |
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Designation : |
Director |
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Address : |
3505 Type Iii Flats, Sevenhills Hospital, Marol Maroshi Road, Andheri East, Mumbai - 400059, Maharashtra, India |
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Date of Appointment : |
30.03.2015 |
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DIN No.: |
07158097 |
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Name : |
Dr. Ashok Anant Mahashur |
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Designation : |
Director |
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Address : |
A 509, Dhanvantari CHS, Deonar Municipal Colony, Sector 2, Deonar, Mumbai - 400043, Maharashtra, India |
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Date of Appointment : |
30.03.2015 |
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DIN No.: |
07158239 |
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KEY EXECUTIVES
|
Name : |
Mrs. Suvarna Dadabhau Gholap |
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Designation : |
Secretary |
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Address : |
103-A, Building No.26, Tilak Nagar, Chembur, Mumbai – 400 089,
Maharashtra, India |
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Date of Birth/Age : |
15.07.1982 |
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Date of Appointment : |
01.03.2011 |
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PAN No.: |
ANJPG7538B |
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Name : |
Mr. Vishwas Bhosle |
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Designation : |
Senior General Manager |
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Name : |
Mr. Vinayak Vasudev Shirodkar |
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Designation : |
Chief Financial Officer |
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Address : |
B 401, Windsor, Shiv Vallabh Road, Borivali (East), Mumbai - 400066, Maharashtra, India |
|
Date of Appointment : |
01.10.2014 |
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PAN No.: |
AAFPS7254R |
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|
Name : |
Mr. Atul Gaonkar |
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Designation : |
Purchase Manager |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Anju Agarwal |
3256200 |
16.31 |
|
Rajendra Murlidhar Agarwal |
3084360 |
15.45 |
|
Banwarilal Murildhar Bawri |
3022080 |
15.14 |
|
Prateek Agarwal |
2518400 |
12.62 |
|
Girdharilal Murlidhar Bawri |
2235360 |
11.20 |
|
Ajay Agarwal |
2172550 |
10.88 |
|
Vijay Agarwal |
2083610 |
10.44 |
|
Sudha Bawri |
884080 |
4.43 |
|
Anushree Agarwal |
229200 |
1.15 |
|
Ruchi Agarwal |
192840 |
0.97 |
|
Taradevi Bawri |
162000 |
0.81 |
|
Rajendra Murlidhar Agarwal HUF |
120000 |
0.60 |
|
Total |
19960680 |
100.00 |
As on 30.09.2014
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 engaged in manufacturing and developing business of pharmaceutical and related activities, including research. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
·
African Countries ·
United States of America ·
East Asian Countries |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
L/C |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Manufacturer
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No. of Employees : |
10000 (Approximately) |
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Bankers : |
· Citi Bank N.A., Commercial Banking Group, Bandra Kurla Complex, Mumbai - 400051, Maharashtra, India · Axis Bank Limited, Lokhandwala, Andheri (West), Mumbai, Maharashtra, India |
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Facilities : |
(Rs.
In Million)
|
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Auditors : |
|
|
Name : |
Bansal Bansal and Company Chartered Accountants |
|
Address : |
120 Building No.6, Mittal Industrial Estate, Mumbai – 400 059,
Maharashtra, India |
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Tel. No.: |
91-22-28507815/66923607/28507816 |
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Fax No.: |
91-22-28507816 |
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E-Mail : |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiaries : |
· East and West Clothing Private Limited · Macleods Tashkent, Uzbek · Macleods Pharma UK Limited · Macleods Pharmaceuticals SA (PTY) Limited · Macleods Pharmaceuticals Limited, Peru S.A.C. · Macleods Pharmaceuticals Limited. Ukraine · Macleods Pharma USA, INC. ·
Macleods Pharma Japan |
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Enterprise under
Significant Influence of Key management Personnel or their Relatives : |
· Macleods Laboratories Private Limited · Oxalis Labs ·
Pharma Centre |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19960680 |
Equity Shares |
Rs.10/- each |
Rs.199.607
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 |
199.607 |
199.607 |
199.606 |
|
(b) Reserves &
Surplus |
16486.456 |
12281.677 |
8806.163 |
|
(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) |
16686.063 |
12481.284 |
9005.769 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
19.508 |
19.507 |
19.507 |
|
(b) Deferred tax
liabilities (Net) |
258.038 |
198.442 |
274.074 |
|
(c) Other long term
liabilities |
83.394 |
100.058 |
79.450 |
|
(d) long-term provisions |
113.541 |
57.444 |
40.654 |
|
Total Non-current
Liabilities (3) |
474.481 |
375.451 |
413.685 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
847.604 |
1502.372 |
1480.123 |
|
(b) Trade payables |
2607.959 |
1448.935 |
1259.888 |
|
(c) Other current
liabilities |
1490.027 |
1279.089 |
686.570 |
|
(d) Short-term provisions |
19.866 |
7.399 |
4.694 |
|
Total Current Liabilities
(4) |
4965.456 |
4237.795 |
3431.275 |
|
|
|
|
|
|
TOTAL |
22126.000 |
17094.530 |
12850.729 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4235.437 |
3179.552 |
2666.021 |
|
(ii) Intangible Assets |
39.353 |
7.774 |
2.279 |
|
(iii) Capital
work-in-progress |
741.700 |
537.430 |
123.774 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
102.779 |
98.831 |
99.459 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1054.916 |
1154.621 |
1179.668 |
|
(e) Other Non-current
assets |
1781.188 |
269.068 |
67.479 |
|
Total Non-Current Assets |
7955.373 |
5247.276 |
4138.68 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3935.825 |
3490.927 |
2450.497 |
|
(c) Trade receivables |
3438.543 |
2851.136 |
2575.356 |
|
(d) Cash and cash
equivalents |
5023.791 |
4419.823 |
3080.621 |
|
(e) Short-term loans and
advances |
1159.752 |
818.555 |
375.772 |
|
(f) Other current assets |
612.716 |
266.813 |
229.803 |
|
Total Current Assets |
14170.627 |
11847.254 |
8712.049 |
|
|
|
|
|
|
TOTAL |
22126.000 |
17094.530 |
12850.729 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
28205.872 |
23792.521 |
18253.629 |
|
|
Other Income |
758.723 |
467.378 |
238.649 |
|
|
TOTAL |
28964.595 |
24259.899 |
18492.278 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
9727.316 |
8169.553 |
6049.578 |
|
|
Purchases of Stock-in-Trade |
3556.556 |
2664.303 |
1857.542 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(340.086) |
(673.178) |
98.450 |
|
|
Employees benefits
expense |
3458.118 |
3149.761 |
2460.473 |
|
|
Other expenses |
6397.591 |
5983.264 |
4860.368 |
|
|
TOTAL |
22799.495 |
19293.703 |
15326.411 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
6165.100 |
4966.196 |
3165.867 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
24.851 |
68.056 |
72.873 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
6140.249 |
4898.140 |
3092.994 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
360.235 |
274.992 |
227.393 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
5780.014 |
4623.148 |
2865.601 |
|
|
|
|
|
|
|
Less |
TAX |
1341.706 |
915.647 |
145.502 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
4438.308 |
3707.501 |
2720.099 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
0.000 |
5553.250 |
3376.110 |
|
|
Income from Product Development |
111.984 |
76.371 |
55.740 |
|
|
TOTAL |
111.984 |
5629.621 |
3431.850 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
2533.350 |
2574.731 |
1908.988 |
|
|
Components/Stores/Spares |
10.433 |
10.328 |
14.790 |
|
|
Finished Goods |
33.591 |
18.824 |
14.099 |
|
|
Capital Goods |
145.395 |
89.091 |
64.668 |
|
|
TOTAL |
2722.769 |
2692.974 |
2002.545 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
222.35 |
185.74 |
136.27 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
35000.000 |
Expected Sales (2015-16): Rs.38000.000 Million
The above information has been parted by Mr. Atul Gaonkar (Purchase
Manager).
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
5423.666 |
3618.178 |
1639.501 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
15.74 |
15.58 |
14.90 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
21.86 |
20.87 |
17.34 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
27.16 |
28.09 |
22.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35 |
0.37 |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.05 |
0.12 |
0.17 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.85 |
2.80 |
2.54 |
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 |
199.606 |
199.607 |
199.607 |
|
Reserves & Surplus |
8806.163 |
12281.677 |
16486.456 |
|
Net worth |
9005.769 |
12481.284 |
16686.063 |
|
|
|
|
|
|
long-term borrowings |
19.507 |
19.507 |
19.508 |
|
Short term borrowings |
1480.123 |
1502.372 |
847.604 |
|
Total borrowings |
1499.630 |
1521.879 |
867.112 |
|
Debt/Equity ratio |
0.167 |
0.122 |
0.052 |
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 |
18253.629 |
23792.521 |
28205.872 |
|
|
|
30.344 |
18.549 |
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 |
18253.629 |
23792.521 |
28205.872 |
|
Profit |
2720.099 |
3707.501 |
4438.308 |
|
|
14.90% |
15.58% |
15.74% |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
Yes |
|
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 four years |
Yes |
|
27 |
Reasons for variation <> 20% |
---------------------- |
|
28 |
Estimation for coming financial year |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the Annual
Report |
No |
LITIGATION DETAILS
|
LITIGATION DETAILS |
||||
|
Bench:-
Bombay Presentation Date : 02.12.2013 |
||||
|
Stamp No. : |
WPST/33240/2013 |
Failing Date:- |
02.12.2013 |
|
|
|
||||
|
Petitioner:- |
COMMSSIONER OF CENTRAL EXCISE |
Respondent:- |
MACLEODS PHARMACEUTICALS LIMITED |
|
|
Petn. Adv:- |
A S RAO (I257) |
|||
|
District:- |
MUMBAI |
|||
|
|
||||
|
Bench:- |
DIVISION |
|||
|
Status:- |
Pre-Admission |
|||
|
Last Date:- |
09.12.2013 |
|||
|
Last Coram:- |
REGISTRAR (JUDICIAL) |
|||
|
|
|
|||
|
Act. : |
Bombay University Act |
|||
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Deferred sales tax loan |
19.508 |
19.507 |
|
SHORT TERM
BORROWING |
|
|
|
Loans and advances from related parties |
6.345 |
6.209 |
|
Total |
25.853 |
25.716 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10449202 |
19/09/2013 |
15,460,000.00 |
ICICI BANK LIMITED |
1st Floor, GANESH DARSHAN BUILDING, L. T. ROAD, OPPOSITE SHRI SAGAR HOTEL, BORIVALI WEST - 400092, Maharashtra, INDIA |
B85072510 |
|
2 |
10449114 |
19/09/2013 |
17,850,000.00 |
ICICI BANK LIMITED |
1st Floor, GANESH DARSHAN BUILDING, L. T. ROAD, OPPOSITE SHRI SAGAR HOTEL, BORIVALI WEST - 400092, Maharashtra, INDIA |
B85015006 |
|
3 |
10449057 |
19/09/2013 |
22,160,000.00 |
ICICI BANK LIMITED |
1st Floor, GANESH DARSHAN BUILDING, L. T. ROAD, OPPOSITE SHRI SAGAR HOTEL, BORIVALI WEST - 400092, Maharashtra, INDIA |
B84988856 |
|
4 |
10449059 |
19/09/2013 |
22,160,000.00 |
ICICI BANK LIMITED |
1st Floor, GANESH DARSHAN BUILDING, L. T. ROAD, OPPOSITE SHRI SAGAR HOTEL, BORIVALI WEST - 400092, Maharashtra, INDIA |
B84990639 |
* Date of charge modification
GENERAL INFORMATION
Subject is a closely held Public Company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The Company is engaged in the business of pharmaceutical and related activities, including research.
OPERATING RESULTS
The Sales and other income is Rs. 28964.590 million for the year, higher by 19.39% over Rs. 24259.900 million reported in the year 2012-13. The Net profit before tax amounted to Rs.5780.010 million against Rs. 4623.150 million during last year and the profit after tax is Rs.4438.300 million which was Rs. 3707.500 million during the last year.
FIXED ASSETS
· Land
· Buildings
· Office building
· Plant and equipment
· Furniture and fixtures
· Motor vehicles
· Computer equipment’s
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 records 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.64.96 |
|
|
1 |
Rs.100.55 |
|
Euro |
1 |
Rs.73.99 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
PNM |
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 |
7 |
|
--PROFITABILITY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--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 |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
67 |
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.