MIRA INFORM REPORT
|
Report No. : |
338741 |
|
Report Date : |
31.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
SYMBIOTEC PHARMALAB PRIVATE LIMITED (w.e.f. 25.07.2014) |
|
|
|
|
Formerly Known
As : |
SYMBIOTEC PHARMALAB LIMITED |
|
|
|
|
Registered
Office : |
385/2, Pigdamber, Near Mashal Hotel, Rau, Indore - 453331, Madhya
Pradesh |
|
Tel. No.: |
91-731-4200052 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation
: |
20.09.2002 |
|
|
|
|
Com. Reg. No.: |
10-015293 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.108.685 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24232MP2002PTC015293 |
|
|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BPLS03752A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCS9311M |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Subject is engaged in the business of manufacturing and
selling of Active Pharmaceuticals Ingredients (API) and Intermediates. |
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|
|
|
No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6100000 |
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|
|
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated during the year 2002. It is the manufacturer and selling of active pharmaceuticals ingredients and intermediates. It has a fine track record. Management has reported vast experience of promoters of the company in its operational activity. The company has achieved healthy top line growth along with healthy revenue profile and profitability margin of 5.5%. Further, the company possesses strong financial risk profile marked by comfortable capital structure and efficient net worth position along with favourable gap between trade payables and receivables. Trade relations are fair. Business is active. Payment terms are reported as regular. In view of vast experience of the promoters, the company can be considered for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term rating: A- |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
11.12.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term rating: A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk |
|
Date |
11.12.2014 |
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
31-03-2013.
INFORMATION DECLINED BY
|
Name : |
Mr. Yawar |
|
Designation : |
Account Department |
|
Contact No.: |
91-7316676538 |
|
Date : |
27.08.2015 |
LOCATIONS
|
Registered Office/Factory : |
385/2, Pigdamber, Near Mashal Hotel, Rau, Indore-453331, Madhya
Pradesh, India |
|
Tel. No.: |
91-731-4200052 |
|
Mobile No: |
91-7316676538 (Mr. Yawar) |
|
Fax No.: |
91-731-4201222 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Anil Satwani |
|
Designation : |
Managing Director |
|
Address : |
179, Palsikar Colony, Indore-452004, Madhya Pradesh, India |
|
Date of Birth/Age : |
21.08.1969 |
|
Date of Appointment : |
01.11.2010 |
|
DIN No.: |
00041531 |
|
|
|
|
Name : |
Mr. Mahesh Ramchand Chhabria |
|
Designation : |
Nominee director |
|
Address : |
11 Golden Beach,, Ruia Park, Juhu, Mumbai - 400049, Maharashtra,
India |
|
Date of Birth/Age : |
19.04.1964 |
|
Date of Appointment : |
19.03.2014 |
|
DIN No.: |
00166049 |
|
|
|
|
Name : |
Mr. Viraj Tushar Mahadevia |
|
Designation : |
Nominee director |
|
Address : |
E-12, Sea Face Park, B. Desai Road, Mumbai - 400026, Maharashtra, India |
|
Date of Birth/Age : |
11.01.1979 |
|
Date of Appointment : |
21.10.2013 |
|
DIN No.: |
06505589 |
KEY EXECUTIVES
|
Name : |
Mr. Yawar |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Anil Satwani |
|
450000 |
|
Kashish Satwani |
|
450000 |
|
Manoharlal Satwani |
|
120000 |
|
Sushil Satwani |
|
184000 |
|
Sunil Satwani |
|
40000 |
|
Pramila Hasmukh Mehta |
|
26600 |
|
Falguni Divyesh Mehta |
|
26600 |
|
Sejal Bhavesh Mehta |
|
26600 |
|
Divyesh Mehta |
|
26600 |
|
Bhavesh Mehta |
|
26600 |
|
Swati Sachdev |
|
40000 |
|
Sasi M.N. |
|
3500 |
|
J.C. Shah |
|
4200 |
|
Monica Tripathi |
|
700 |
|
Mitesh Patel |
|
1400 |
|
D.N. Pandya |
|
8330 |
|
S. Mandloi |
|
8330 |
|
Anand Gupta |
|
1750 |
|
Rakesh Gupta |
|
1750 |
|
R. S. Shepati |
|
17387 |
|
Symbiotec Steroids Private Limited |
|
1775000 |
|
Milji Mehta and Sons Private Limited |
|
31710 |
|
Goldfin Capital Private Limited |
|
40600 |
|
Actis Medal Sports Limited |
|
7556811 |
|
Total |
|
10868468 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
69.53 |
|
Bodies corporate |
17.00 |
|
Directors or relatives of Directors |
11.44 |
|
Other top fifty shareholders |
2.03 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing and
selling of Active Pharmaceuticals Ingredients (API) and Intermediates. |
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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 Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management
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Bankers : |
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Facilities : |
(Rs.
In Million)
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Banking
Relations : |
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|
Financial Institutions : |
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Auditors : |
|
|
Name 1 : |
Mahesh C. Solanki
and Company Chartered Accountants |
|
Address : |
803, Airen
Heights, PU-3 Scheme No. 54, Opposite Malhar Mega Mall, Indore, Madhya Pradesh,
India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAKFM4247M |
|
|
|
|
Name 2 : |
S.R. Batliboi and
Associates Chartered Accountants |
|
Address : |
14th Floor, The
Ruby 29 Senapati Bapat Marg, Dadar (West), Mumbai, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABFS3421N |
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Memberships : |
Not Available |
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|
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Collaborators : |
Not Available |
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|
|
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Subsidiary company: |
Symbiotec Pharmalab(Singapore) Pte Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs. 120.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10868468 |
Equity Shares |
Rs.10/- each |
Rs. 108.685
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 |
108.685 |
82.709 |
63.431 |
|
(b) Reserves & Surplus |
2030.266 |
889.664 |
390.291 |
|
(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) |
2138.951 |
972.373 |
453.722 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
247.020 |
30.261 |
565.511 |
|
(b) Deferred tax liabilities
(Net) |
64.452 |
50.343 |
5.574 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
7.998 |
5.286 |
2.583 |
|
Total
Non-current Liabilities (3) |
319.470 |
85.890 |
573.668 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
715.591 |
543.683 |
413.049 |
|
(b) Trade payables |
647.474 |
392.031 |
288.481 |
|
(c) Other current liabilities |
176.613 |
122.091 |
102.218 |
|
(d) Short-term provisions |
33.929 |
12.987 |
0.000 |
|
Total
Current Liabilities (4) |
1573.607 |
1070.792 |
803.748 |
|
|
|
|
|
|
TOTAL |
4032.028 |
2129.055 |
1831.138 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
803.851 |
795.774 |
770.899 |
|
(ii) Intangible Assets |
47.721 |
60.558 |
3.989 |
|
(iii) Capital work-in-progress |
579.765 |
23.027 |
35.995 |
|
(iv) Intangible assets under
development |
37.007 |
20.009 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
1.775 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
55.739 |
60.392 |
43.182 |
|
(e) Other Non-current assets |
62.122 |
60.697 |
58.624 |
|
Total
Non-Current Assets |
1586.205 |
1020.457 |
914.464 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
950.414 |
0.000 |
0.000 |
|
(b) Inventories |
702.623 |
464.906 |
424.576 |
|
(c) Trade receivables |
559.573 |
547.426 |
407.088 |
|
(d) Cash and cash equivalents |
77.387 |
18.532 |
15.363 |
|
(e) Short-term loans and
advances |
140.923 |
64.528 |
51.890 |
|
(f) Other current assets |
14.903 |
13.206 |
17.757 |
|
Total
Current Assets |
2445.823 |
1108.598 |
916.674 |
|
|
|
|
|
|
TOTAL |
4032.028 |
2129.055 |
1831.138 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
|
2332.513 |
1486.781 |
|
|
|
|
Other Income |
|
11.223 |
6.996 |
|
|
|
|
TOTAL (A) |
3267.600 |
2343.736 |
1493.777 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
|
1727.303 |
1090.603 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
|
(69.607) |
(1.679) |
|
|
|
|
Employee Benefits Expenses |
|
118.037 |
89.716 |
|
|
|
|
Other Expenses |
|
219.956 |
156.098 |
|
|
|
|
Prior period expenses |
|
113.560 |
1.022 |
|
|
|
|
Extra ordinary items |
|
0.000 |
0.000 |
|
|
|
|
TOTAL (B) |
2830.400 |
2109.249 |
1335.760 |
|
|
|
|
|
|
|
||
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
437.200 |
234.487 |
158.017 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
81.000 |
81.396 |
84.195 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
356.200 |
153.091 |
73.822 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
55.200 |
42.085 |
37.749 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
301.000 |
111.006 |
36.073 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
120.900 |
33.956 |
3.314 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
180.100 |
77.050 |
32.759 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
288.236 |
211.200 |
178.400 |
||
|
|
|
|
|
|
||
|
|
BALANCE CARRIED TO
THE B/S |
NA |
288.236 |
211.186 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export Earnings |
1478.900 |
740.100 |
398.100 |
|
|
|
TOTAL EARNINGS |
1478.900 |
740.100 |
398.100 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
CIF value of imports |
2232.600 |
1588.200 |
848.400 |
|
|
|
TOTAL IMPORTS |
2232.600 |
1588.200 |
848.400 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
19.11 |
12.13 |
5.16 |
||
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
58.348 |
76.467 |
75.818 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
371.561 |
204.615 |
(121.546) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
5.51 |
10.05 |
10.63 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
13.38 |
10.05 |
10.63 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.81 |
11.24 |
8.81 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.24 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.48 |
0.67 |
2.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.55 |
1.04 |
1.14 |
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 |
63.431 |
82.709 |
108.685 |
|
Reserves & Surplus |
390.291 |
889.664 |
2030.266 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
453.722 |
972.373 |
2138.951 |
|
|
|
|
|
|
long-term borrowings |
565.511 |
30.261 |
247.020 |
|
Short term borrowings |
413.049 |
543.683 |
715.591 |
|
Current maturities of
long-term debts |
75.818 |
76.467 |
58.348 |
|
Total
borrowings |
1054.378 |
650.411 |
1020.959 |
|
Debt/Equity
ratio |
2.324 |
0.669 |
0.477 |
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) |
|
Total Income |
1493.777 |
2343.736 |
3267.600 |
|
|
|
56.900 |
39.418 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
1493.777 |
2343.736 |
3267.600 |
|
Profit |
158.017 |
234.487 |
180.100 |
|
|
10.58% |
10.00% |
5.51% |
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 |
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 |
FINANCIAL RESULTS:
Subject aims at performance improvement and to implement new means to break the barriers of performance through aspirational target setting. The Company has achieved a turnover of Rs. 3262.600 Million up during the year 2013-14 with the increase of 28.50% as compared to Rs. 2334.600 Million in 2012-13 and a Net profit of Rs. 180.100 Million in the year 2013-14.
The company has managed to weather the storm and it looks forward to the opportunity of fulfilling its objective to adapt to the continual changing needs of the Active Pharmaceuticals in the years ahead. The Company has achieved Net Profit of Rs. 180.100 Million with an increase of 133.59 % from Net Profit of Rs. 77.100 Million in FY 2012-13.
The company is extremely well positioned to drive growth. During the year the company has expanded and continued its efforts on its ambition to grow more.
KEY HIGHLIGHTS OF THE
BUSINESS and OPERATIONS:
Symbiotec is in the business of research, development, manufacturing and marketing of research-based cortico-steroids since 1995. Company has continuously invested in upgrading its research and manufacturing facilities so as to ensure consistent delivery of high quality products to its customers.
Symbiotecs customer base includes leading domestic pharmaceutical company such as Cipla, Ranbaxy, Cadila, Glenmark, Sun Pharma etc. and Overseas companies such as Glaxo Smithkline, Teva, Lab Pisa, 3M etc.. Over the years, Symbiotec has built a strong management team to lead the way for future growth and expansion.
BUSINESS PLANS:
1. PROJECT DETAILS
Unarguably a leader in India in cortico steroids segment and having its presence realized in the rest of the world and having rung the door bells of regulated markets already, Symbiotec is roaring to expand exponentially with ambitious and calculated future business plans.
Drug manufacturing traditionally have been the gold mine for those with focus on:
(1) Innovation and
(2) Cost advantage
2. INTEGRATION
(1) Backward integration
The backward integration plans, although in phases, focus on capabilities mainly involving introduction of:
a. Chemical Synthesis from Natural resources of YAM plant roots / Sitosterol (SOY) to various steroids / hormones base material through
b. Fermentation
(2) Lateral integration within Steroids and Hormones:
The said plan is to introduce further APIs within Steroids and enhance manufacturing capacities to much bigger level to achieve Scale-of-economy.
Within lateral integration plans, Company has definite plans to launch sex Hormones from new dedicated hormones manufacturing block.
(3) Forward integration (Sterile Operations):
The Company firmly believes that future of Steroids, at least in injectables and inhalers, lies in in-process aseptic filtration solution in micronized form.
For the same, company has carried out single step process of Aseptic Spray drying while simultaneously working on alternate two step processes
3. EXPANSION PLAN IN
PROCESS:
Looking into the huge market demand and boom in the Pharmaceutical industry, The Company is planning to enhance the capacity through expansion in the Chemical Synthesis Block.
The company has also acquired new land near by the existing SEZ Unit for expansion of supplement Blocks like Solvent Tanks, Solvent Storage, RM Warehouse and other to increase the capacity of plant.
Chemical Synthesis Block (Pilot Plant) is an ancillary unit which supports further in Fermentation and Downstream Block. The Construction of this block is going on full swing. For the aforesaid project of the company, Company has acquired a term loan of Rs. 250.000 Million from the State Bank of India.
The Company is planning to launch a large commercial scale Biotech / Fermentation facilities along with chemical synthesis block (Pilot Plant) to enable the manufacturing of key intermediates for its final products (Backward Integration). The company’s long term objective of being a integrated steroids solution provider to the Pharmaceuticals world can only be achieved by acquiring control over its critical raw material right from its origin The said backward integration plans, although in phases, focus on capabilities mainly involving introduction of Chemical Synthesis from Natural resources of YAM plant roots / Sitosterol (SOY) to various steroids / hormones base material.
SPPL is mainly focusing on enhancing the profitability and to decrease dependence on suppliers. This is well done by adapting to both Chemical Synthesis and by Biotech / Fermentation (based on newly developed Biotech R and D center and procured technologies from EU and China) Today Symbiotec can offer four different protected departments for Chemical Synthesis of potent and toxic drugs, with reactor sizes ranging from 20 L to 1,600 L; two lyophilization units inside appropriate isolators, and the capacity to handle finished products with state-of-the-art technology.
CORPORATE INFORMATION
Subject is a public company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The Company’s registered office is in Indore, Madhya Pradesh and it has one subsidiary in Singapore. The Company is engaged in the business of manufacturing and selling of Active Pharmaceuticals Ingredients (API) and Intermediates. The Company caters to both domestic and international markets
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10546825 |
29/12/2014 |
45,500,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES,, DR. V.
B. GANDHI MARG, FORT, MUMBAI, |
C42329276 |
|
2 |
10471807 |
25/11/2013 |
850,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN
BHAVAN, 227,D,, NARIMAN POINT,, M |
B94105137 |
|
3 |
10260408 |
25/06/2014 * |
300,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE
CIRCLE, ALKAPURI, BARODA, GUJ |
C09210493 |
|
4 |
10230311 |
15/07/2010 |
8,821,748.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
A90421470 |
|
5 |
10207896 |
10/03/2010 |
60,000,000.00 |
MADHYA PRADESH FINANCIAL CORPORATION |
CAPITAL MARKET
DIVISION, NAVRATAN BAGH, OPP. ST. |
A81637274 |
|
6 |
90205950 |
25/05/2015 * |
3,002,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,,
A.B.ROAD, (NEAR G.P.O.), INDO |
C56179641 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Other equipments
Intangible assets
- Know-how
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.06 |
|
UK Pound |
1 |
Rs.102.35 |
|
Euro |
1 |
Rs.74.97 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
51 |
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.