MIRA
INFORM REPORT
|
Report No. : |
346120 |
|
Report Date : |
19.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
USV LIMITED |
|
|
|
|
Formerly Known
As : |
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|
|
|
|
Registered
Office : |
Arvind Vithal Gandhi Chowk, BSD Marg, Govandi, Mumbai - 400088, |
|
Tel. No.: |
91-22-25564048 |
|
|
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|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2014 |
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|
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|
Date of
Incorporation : |
25.08.1961 |
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|
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|
Com. Reg. No.: |
11-012098 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.999.669 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24239MH1961PLC012098 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMU00007A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACU1366N |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
Line of Business
: |
The Company is engaged in the manufacturing and selling of
Active Pharmaceutical Ingredient (API), finished dosages and generics. |
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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 unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 42200000 |
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|
|
|
Status : |
Good |
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|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
USV is a leading healthcare company with focus on branded generics
APIs, and bio-similars. Company was incorporated on 25th August
1961, and is an old and well established company having good track record. The ratings on USC Limited continue to reflect its strong financial
risk profile, marked by healthy operating profitability, negligible debt, and
strong liquidity. The rating continues to drive strength on USV’s robust market
position, long track record of its business and rich experienced of the
promoters in the pharmaceutical business. These rating strengths are partially offset by the high product
concentration in the company’s revenue profile, and competition from domestic
as well as foreign players. Trade relation reported to be fair. Business is active. Payment terms
are reported to be regular and as per commitment. 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 |
|
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 |
CRISIL |
|
Rating |
Long term rating AA+ |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
14.10.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating A1+ |
|
Rating Explanation |
Very strong degree at safety and lowest
credit risk. |
|
Date |
14.10.2014 |
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 DENIED
Management non co-operative
Contact No.: 91-22-25564048
LOCATIONS
|
Registered / Corporate Office : |
Arvind Vithal Gandhi Chowk, BSD Marg, Govandi, Mumbai - 400088,
Maharashtra, India |
|
Tel. No.: |
91-22-25564048/
4049/ 4050/ 4051/ 2225/ 25559915/ 25581118/ 67861111 |
|
Fax No.: |
91-22-25515608/
25584025 |
|
E-Mail : |
|
|
Website : |
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|
Location : |
Owned |
|
|
|
|
Factory 1 : |
MIDC, Lote Industrial Area, Khed, Ratnagiri, OIDC, Dabhel, Daman,
HPSIDC, Baddi, Himachal Pradesh, India |
|
|
|
|
Factory 2 : |
Plot No. B-1 / 8, M.I.D.C. Lote Industrial Area, Taluka Khed,
Ratnagiri, |
|
Tel. No.: |
91-2356-272242 |
|
Fax No.: |
91-2356-272402 |
|
|
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Factory 3: |
OIDC, Dabhel, Daman, Daman and Diu, India |
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Factory 4: |
Hilltop Industrial, Area, Jhar Majri, Baddi, Himachal Pradesh, India |
DIRECTORS
AS ON 12.09.2014
|
Name : |
Mrs. Leena Gandhi Tewari |
|
Designation : |
Director |
|
Address : |
41, Ritu Apartments, 208, B.J. Road, Bandra (West), Mumbai-400050,
Maharashtra, India |
|
Date of Birth/Age : |
09.03.1957 |
|
Qualification : |
MBA, Boston University, USA B. Com. |
|
Date of Appointment : |
20.01.1986 |
|
DIN No.: |
00001748 |
|
|
|
|
Name : |
Mr. Prashant Kumar Tewari |
|
Designation : |
Managing director |
|
Address : |
41, Ritu Apartments, 208, B J Road, Bandra ( West), Mumbai-400050,
Maharashtra, India |
|
Date of Birth/Age : |
09.04.1958 |
|
Qualification : |
MS, B. Tech IIT- Kanpur |
|
Date of Appointment : |
01.05.2013 |
|
DIN No.: |
00001745 |
|
|
|
|
Name : |
Debabrata Sujit Gupta |
|
Designation : |
Whole-time director Executive Director & Chief Operating
Officer |
|
Address : |
B-804, Etrnai, Hiranandani Gardens, Powai, Mumbai - 400076,
Maharashtra, India |
|
Date of Birth/Age : |
19.02.1963 |
|
Qualification : |
B. Tech.(Chemistry)-IIT Kharagpur |
|
Date of Appointment : |
19.09.2008 |
|
DIN No.: |
01500784 |
|
|
|
|
Name : |
Mr. Deepak Keshav Ghaisas |
|
Designation : |
Director |
|
Address : |
B 61/62, Swapnashilp Apartments, Mahant Road, Vile Parle (East),
Mumbai-400057, Maharashtra, India |
|
Date of Birth/Age : |
19.11.1957 |
|
Qualification : |
CA, CS and ICWA |
|
Date of Appointment : |
12.09.2014 |
|
DIN No.: |
00001811 |
|
|
|
|
Name : |
Mr. Debabrata Bhadury |
|
Designation : |
Director |
|
Address : |
9-A, Belvedere Court, Sane Guruji Marg, Mahalaxmi, Mumbai - 400011,
Maharashtra, India |
|
Date of Birth/Age : |
20.11.1941 |
|
Qualification : |
MA (Economics) |
|
Date of Appointment : |
01.05.2001 |
|
DIN No.: |
00001754 |
|
|
|
|
Name : |
Murugappan Muthiah Venkatachalam |
|
Designation : |
Director |
|
Address : |
20/1, Valliammai Achi Road, Kottupuram, Chennai - 600085, Tamilnadu,
India |
|
Date of Birth/Age : |
24.11.1958 |
|
Qualification : |
MBA, Washington University, USA |
|
Date of Appointment : |
12.09.2014 |
|
DIN No.: |
00152619 |
|
|
|
|
Name : |
Mr. Vilas Gandhi Tewari |
|
Designation : |
Director |
|
Address : |
5416, Fair Ave Apartment, 1321, N Hollywood, CA USA 91601 |
|
Date of Birth/Age : |
24.03.1984 |
|
Date of Appointment : |
27.09.2012 |
|
DIN No.: |
05354249 |
|
|
|
|
Name : |
Krishnakumar Maheshwari |
|
Designation : |
Director |
|
Address : |
903, Palmyra Skuline Oasis Apartment, Premier Road, Vidyavihar, Mumbai
– 400086, Maharashtra, India |
|
Date of Birth/Age : |
01.05.1940 |
|
Date of Appointment : |
12.09.2014 |
|
Date of Cessation : |
11.02.2015 |
|
DIN No.: |
06895677 |
KEY EXECUTIVES
|
Name : |
Mr. Anil Bhalchandra Kale |
|
Designation : |
Secretary |
|
Address : |
703, Susheela Apartment CHS, Kaka Sohoni Marg, Thane – 400601,
Maharashtra, India |
|
Date of Birth/Age : |
20.01.1983 |
|
Date of Appointment : |
11.02.2013 |
|
PAN No.: |
AALPK2653C |
|
|
|
|
Name : |
Prakash Chandrasekharan Menon |
|
Designation : |
CFO |
|
Address : |
703, Joanna I, 10,Manuel Gonsalves Road, Bandra West, Mumbai - 400050, Maharashtra, India |
|
Date of Appointment : |
18.06.2014 |
|
PAN No.: |
AACPM8929L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 12.09.2014
|
Names of Shareholders |
No. of Shares |
|
Leena Gandhi Tewari |
91287618 |
|
Aneesha Gandhi Tewari |
11106 |
|
Treva Health Care Private Limited, India |
5553 |
|
Vipal Health Care Private Limited, India |
5553 |
|
USV Reliable Homes Private Limited, India |
7404 |
|
Leena Gandhi Tewari Jointly with Prashant Tewari |
5395665 |
|
Prashant Tewari Jointly with Leena Gandhi Tewari |
3041193 |
|
Prashant Tewari |
201759 |
|
Neo-Pharma Industries Private Limited, India |
11106 |
|
|
|
|
TOTAL |
99966957 |
AS ON 12.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the manufacturing and selling of
Active Pharmaceutical Ingredient (API), finished dosages and generics. |
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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 : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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 : |
Ø Axis Bank
Limited, Trishul 3rd Floor Opposite Samartheshwar Temple, Law Garden
Ellisbridge, Ahmedabad - 380006, Gujarat, India Ø
Standard
Chartered Grindlays Bank Limited, Dr. D. N. Road, Mumbai-400001, Maharashtra,
India Ø State Bank of India Ø The Saraswat Co-operative Bank Limited Ø Deutsche Bank Ø
Yes Bank Limited |
|
Financial Institution : |
Department of Biotechnology, Block 2, CGO Complex, New Delhi - 110003, India |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Associates Chartered Accountants |
|
Address : |
Lodha Excelus, 1st
Floor, Apollo Mills Compound, NM Marg, Mahalaxmi, Mumbai - 400011,
Maharashtra, India |
|
PAN
No. : |
AADFB6889R |
|
|
|
|
Internal Auditor
: |
|
|
Name : |
A P R Associates Chartered Accountants |
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|
|
|
Cost Auditor : |
|
|
Name : |
Sevekari, Khare and Associates Cost Accountants |
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|
|
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Subsidiaries
Company : |
· Bharavi Laboratories Private Limited [U24119KA1996PTC020463] · Indicus Pharma LLC · USV Europe Limited · USV North America, Inc. · USV Labs Limited [U24232MH2010PLC205370] |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are
partners with Key management
personnel and their relatives : |
· Neo-Pharma Industries Private Limited [U24239MH1960PTC011862] · Treva Health Care Private Limited [U24239MH1989PTC054400] · USV Reliable Homes Private Limited [U24239MH1995PTC092234] · V. B. Gandhi and Company · Vipal Health Care Private Limited [U24239MH1989PTC054414] |
CAPITAL STRUCTURE
AS ON 12.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125000000 |
Equity Shares |
Rs.10/- each |
Rs.1250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
99966957 |
Equity Shares |
Rs.10/- each |
Rs.999.669 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 |
999.669 |
999.669 |
999.669 |
|
(b) Reserves & Surplus |
13770.413 |
11505.741 |
9772.418 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.0000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
14770.082 |
12505.410 |
10772.087 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
4.919 |
8.799 |
19.765 |
|
(b) Deferred tax liabilities (Net) |
244.283 |
178.549 |
121.089 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
59.876 |
|
(d) long-term provisions |
28.836 |
32.866 |
709.438 |
|
Total Non-current Liabilities (3) |
278.038 |
220.214 |
910.168 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
1921.402 |
1659.634 |
1748.827 |
|
(c) Other current
liabilities |
695.397 |
601.079 |
492.920 |
|
(d) Short-term provisions |
2533.789 |
2242.370 |
3079.537 |
|
Total Current Liabilities (4) |
5150.588 |
4503.083 |
5321.284 |
|
|
|
|
|
|
TOTAL |
20198.708 |
17228.707 |
17003.539 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3840.159 |
3668.004 |
3392.032 |
|
(ii) Intangible Assets |
91.432 |
98.512 |
110.773 |
|
(iii) Capital
work-in-progress |
93.707 |
511.061 |
591.331 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
13.091 |
2.297 |
2.297 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1822.713 |
1199.477 |
1285.932 |
|
(e) Other Non-current assets |
0.664 |
176.996 |
202.931 |
|
Total Non-Current Assets |
5861.766 |
5656.347 |
5585.296 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
8822.856 |
6764.416 |
6105.423 |
|
(b) Inventories |
1804.786 |
1625.971 |
1493.139 |
|
(c) Trade receivables |
1921.481 |
1739.086 |
1477.302 |
|
(d) Cash and cash
equivalents |
958.776 |
722.904 |
404.677 |
|
(e) Short-term loans and
advances |
829.043 |
719.983 |
1511.397 |
|
(f) Other current assets |
0.000 |
0.000 |
426.305 |
|
Total Current Assets |
14336.942 |
11572.360 |
11418.243 |
|
|
|
|
|
|
TOTAL |
20198.708 |
17228.707 |
17003.539 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
18914.023 |
16888.835 |
14472.621 |
|
|
|
Other Income |
1077.102 |
594.029 |
642.243 |
|
|
|
TOTAL |
19991.125 |
17482.864 |
15114.864 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
3651.931 |
3523.216 |
3195.140 |
|
|
|
Purchases of stock-in-trade |
2866.189 |
2412.336 |
1991.741 |
|
|
|
Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
(137.680) |
(63.152) |
(72.008) |
|
|
|
Employee benefit expense |
1921.931 |
1547.321 |
1477.249 |
|
|
|
Other expenses |
5548.061 |
5255.543 |
4506.182 |
|
|
|
TOTAL |
13850.432 |
12675.264 |
11098.304 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
6140.693 |
4807.600 |
4016.560 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.023 |
0.065 |
0.239 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
6140.670 |
4807.535 |
4016.321 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
685.461 |
725.556 |
639.566 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
5455.209 |
4081.979 |
3376.755 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
672.430 |
375.772 |
552.106 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
4782.779 |
3706.207 |
2824.649 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN CURRENCY |
|
|
|
|
|
|
F.O.B. Value of Exports |
3989.000 |
3665.120 |
3374.622 |
|
|
|
TOTAL EARNINGS |
3989.000 |
3665.120 |
3374.622 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
Raw Materials |
1219.964 |
1082.406 |
1028.828 |
|
|
|
Components and Stores parts |
136.009 |
143.797 |
148.678 |
|
|
|
Capital Goods |
48.776 |
279.051 |
89.443 |
|
|
|
TOTAL IMPORTS |
1404.749 |
1505.254 |
1266.948 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
47.84 |
37.07 |
28.26 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
3.879 |
10.966 |
6.053 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
5153.124 |
3919.325 |
3847.411 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin |
(%) |
25.29 |
21.94 |
19.52 |
|
|
|
|
|
|
|
Operating Profit Margin |
(%) |
32.47 |
28.47 |
27.75 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
27.15 |
24.42 |
20.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.37 |
0.33 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.78 |
2.57 |
2.15 |
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 |
999.669 |
999.669 |
999.669 |
|
Reserves & Surplus |
9772.418 |
11505.741 |
13770.413 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
10772.087 |
12505.410 |
14770.082 |
|
|
|
|
|
|
long-term borrowings |
19.765 |
8.799 |
4.919 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current Maturities of
Long Term Debt |
6.053 |
10.966 |
3.879 |
|
Total borrowings |
25.818 |
19.765 |
8.798 |
|
Debt/Equity ratio |
0.002 |
0.002 |
0.001 |
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 |
14472.621 |
16888.835 |
18914.023 |
|
|
|
16.695 |
11.991 |
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 |
14472.621 |
16888.835 |
18914.023 |
|
Profit |
2824.649 |
3706.207 |
4782.779 |
|
|
19.52% |
21.94% |
25.29% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
--- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
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 LOANS
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Deferred payment liabilities [Deferred sales tax loan is interest free and is payable in spread of 5 equal installments after completion of 10 years] |
4.919 |
8.799 |
|
Total |
4.919 |
8.799 |
INDEX OF CHARGES : NO
CHARGES EXIST FOR COMPANY
CORPORATE
INFORMATION
The company is a public company domiciled in India and incorporated under the provision of the Companies Act, 1956. Its shares are not listed on any stock exchange in India. The Company is engaged in the manufacturing and selling of Active Pharmaceutical Ingredient (API), finished dosages and generics. The Company is admired in India for leadership in diabetes and cardio-vascular space, as well as strong brands in other segments.
FIXED ASSETS
·
Land – Freehold
·
Land – Leasehold
·
Factory Building
·
Residential Buildings
·
Office Premises
·
Plant and Machinery
·
Office Equipments
·
Furniture and Fixtures
·
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.64.96 |
|
|
1 |
Rs.100.53 |
|
Euro |
1 |
Rs.73.99 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
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 |
|
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.