MIRA INFORM REPORT
|
Report No. : |
342060 |
|
Report Date : |
21.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
SAMRAT PHARMACHEM LIMITED (w.e.f. 24.07.1992) |
|
|
|
|
Formerly Known
As : |
SAMRAT PHARMACHEM PRIVATE LIMITED |
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Registered Office
: |
Plot No. A2/3445, GIDC Phase - 4, Ankleshwar – 393002, Gujarat |
|
Tel. No.: |
91-2646-220774 |
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|
|
Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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|
|
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Date of
Incorporation : |
16.06.1992 |
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|
|
|
Com. Reg. No.: |
04-017820 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.30.897 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24230GJ1992PLC017820 |
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|
|
|
IEC No.: |
0392065622 |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS42633D |
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PAN No.: [Permanent Account No.] |
AAECS0806M |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturer of Iodine Salts and Bromine Salts, also the
Pharmaceutical Chemicals. |
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|
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No. of Employees
: |
29 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 384000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 1992. It is
the manufacturer of iodine salts and bromine salts, also pharmaceutical
chemicals. It has satisfactory track. For the financial of the year ended 2015, company has average
operational performance with low profitability margins. Rating takes into consideration company’s sound financial risk profile
supported by good net worth base and favorable liquidity profile of the
company. Trade relations are fair. Business is active. Payments are slow but
correct. In view of the aforesaid, the company can be considered normal 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
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
LOCATIONS
|
Registered Office/ Factory 1 : |
Plot No. A2/3445, GIDC Phase-4, Ankleshwar – 393002, Gujarat, India |
|
Tel. No.: |
91-2646-220774 |
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Fax No.: |
91-2646-251291 |
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E-Mail : |
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Website : |
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Corporate Office : |
701/702, Business Square, M.A. Road, Andheri (West), Mumbai –
400058, Maharashtra, India |
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Tel. No.: |
91-22-26701050 / 1 / 2 |
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Fax No.: |
91-22-26701053 |
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|
|
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Factory 2 : |
Plot No. A2/3444, GIDC Phase-4, Ankleshwar – 393002, Gujarat, India |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Lalit Damodar Mehta |
|
Designation : |
Chairman and Managing Director |
|
Address : |
B/74, Roop Darshan, Juhu Lane, Andheri (West), Mumbai – 400058,
Maharashtra, India |
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Date of Birth/Age : |
08.08.1936 |
|
Qualification : |
B. Sc , LLB |
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Date of Appointment : |
01.04.2011 |
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PAN No.: |
AABPM9691E |
|
|
|
|
Name : |
Mr. Rajesh Lalit Mehta |
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Designation : |
Executive Director |
|
Address : |
B/74, Roop Darshan, Juhu Lane, Andheri (West), Mumbai – 400058,
Maharashtra, India |
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Date of Birth/Age : |
25.06.1964 |
|
Qualification : |
B.Com, ACA |
|
Date of Appointment : |
01.04.2011 |
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PAN No.: |
AABPM9692H |
|
|
|
|
Name : |
Mr. Mahendra Indulal Pipalia |
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Designation : |
Director |
|
Address : |
A/15, Shatdal, Azad Lane, S.V. Road, Andheri (West), Mumbai – 400058,
Maharashtra, India |
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Date of Birth/Age : |
09.11.1963 |
|
Qualification : |
B.Com, ACA |
|
Date of Appointment : |
17.03.2003 |
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|
|
|
Name : |
Mr. Samir Harsukhrai Kothary |
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Designation : |
Director |
|
Address : |
B/45, Roop Darshan, Juhu Lane, Andheri (West), Mumbai – 400058,
Maharashtra, India |
|
Date of Birth/Age : |
10.10.1962 |
|
Qualification : |
B. Sc, DBM |
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Date of Appointment : |
30.07.2003 |
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|
|
|
Name : |
Ms. Renu Dharod |
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Designation : |
Director |
|
Address : |
503, Arunodaya Co-Operative Housing Society, Juhu Cross Lane, Andheri (West), Mumbai, 400058, Maharashtra, India |
|
Date of Birth/Age : |
03.03.1964 |
|
Qualification : |
B.A DBM, LLB |
|
Date of Appointment : |
14.02.2015 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2015
|
Category of Shareholders |
No. of Shares |
Percentage of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
1459949 |
47.25 |
|
|
1459949 |
47.25 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
1459949 |
47.25 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
100000 |
3.24 |
|
|
100000 |
3.24 |
|
|
|
|
|
|
158649 |
5.13 |
|
|
|
|
|
|
884988 |
28.64 |
|
|
429850 |
13.91 |
|
|
56264 |
1.82 |
|
|
11491 |
0.37 |
|
|
43173 |
1.40 |
|
|
1600 |
0.05 |
|
|
1529751 |
49.51 |
|
Total Public shareholding (B) |
1629751 |
52.75 |
|
Total (A)+(B) |
3089700 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
3089700 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Iodine Salts and Bromine Salts, also the
Pharmaceutical Chemicals. |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
-- |
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Imports : |
-- |
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Terms : |
-- |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
29 (Approximately) |
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Bankers : |
· HDFC Bank Limited, Jamuna Apartments, S. V. Road, Andheri (West), Mumbai – 400058, Maharashtra, India · State Bank of India, Rahul Apartments, S. V. Road, Andheri (West), Mumbai – 400058, Maharashtra, India · UCO Bank, FCC Branch, D. N. Road, Fort, Mumbai – 400001, Maharashtra, India · ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Shah, Shah and Shah Chartered Accountants |
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Address : |
502, Damji Shamji Trade Centre, Vidyavihar (West), Mumbai – 400 086,
Maharashtra, India |
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Tel. No.: |
91-22-25100861 / 25109990 |
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Fax No.: |
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Income-tax
PAN of auditor or auditor's firm : |
AALFS8301D |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3089700 |
Equity Shares |
Rs.10/- each |
Rs.30.897 Million |
|
|
|
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|
Disclosure pursuant
to Note no. 6(A)(d) of Part I of Schedule III to the Companies Act 2013
|
Particulars -
Equity Shares |
31 March 2015 |
|
|
|
Number |
Rs |
|
Shares outstanding at the beginning of the year |
3,089,700 |
30.897 |
|
Shares Issued during the year |
-- |
-- |
|
Shares bought back during the year |
-- |
-- |
|
Shares outstanding at the end of the year |
3,089,700 |
30.897 |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
30.897 |
30.897 |
30.897 |
|
(b) Reserves & Surplus |
103.651 |
100.491 |
98.072 |
|
(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) |
134.548 |
131.388 |
128.969 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
2.569 |
6.562 |
10.088 |
|
(b) Deferred tax liabilities (Net) |
4.256 |
3.697 |
2.991 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
6.825 |
10.259 |
13.079 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
30.046 |
24.888 |
32.957 |
|
(b)
Trade payables |
89.343 |
144.230 |
159.690 |
|
(c)
Other current liabilities |
1.922 |
2.531 |
4.345 |
|
(d)
Short-term provisions |
0.000 |
0.571 |
0.000 |
|
Total
Current Liabilities (4) |
121.311 |
172.220 |
196.992 |
|
|
|
|
|
|
TOTAL |
262.684 |
313.867 |
339.040 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
72.022 |
74.848 |
37.452 |
|
(ii)
Intangible Assets |
0.191 |
0.244 |
0.299 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
35.146 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
1.310 |
1.321 |
1.337 |
|
(e)
Other Non-current assets |
4.197 |
2.062 |
1.708 |
|
Total
Non-Current Assets |
77.720 |
78.475 |
75.942 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
44.723 |
74.805 |
97.297 |
|
(c)
Trade receivables |
96.232 |
112.288 |
117.677 |
|
(d)
Cash and cash equivalents |
39.512 |
43.604 |
25.625 |
|
(e)
Short-term loans and advances |
0.258 |
0.300 |
0.300 |
|
(f)
Other current assets |
4.239 |
4.395 |
22.199 |
|
Total
Current Assets |
184.964 |
235.392 |
263.098 |
|
|
|
|
|
|
TOTAL |
262.684 |
313.867 |
339.040 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
473.944 |
648.406 |
705.212 |
|
|
|
Other Income |
3.477 |
7.988 |
5.268 |
|
|
|
TOTAL (A) |
477.421 |
656.394 |
710.480 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
384.960 |
569.769 |
668.782 |
|
|
|
Purchases of Stock-in-Trade |
21.673 |
6.374 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
20.458 |
27.999 |
(16.009) |
|
|
|
Employees benefits expense |
9.120 |
6.610 |
8.540 |
|
|
|
Other expenses |
26.189 |
30.725 |
31.430 |
|
|
|
TOTAL (B) |
462.400 |
641.477 |
692.743 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
15.021 |
14.917 |
17.737 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5.855 |
7.534 |
9.506 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
9.166 |
7.383 |
8.231 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.375 |
3.309 |
2.415 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
4.791 |
4.074 |
5.816 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.631 |
1.656 |
1.813 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
3.160 |
2.418 |
4.003 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
85.538 |
175.371 |
178.856 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
315.936 |
479.701 |
563.633 |
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
1.02 |
0.78 |
1.30 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Cash Generated from Operations |
2.470 |
46.502 |
5.452 |
|
|
|
|
|
|
Net Cash Flow from used in Operations |
(5.576) |
38.589 |
(20.203) |
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2015 |
|
Type |
1st
Quarter |
|
Net Sales |
125.740 |
|
Total Expenditure |
123.150 |
|
PBIDT (Excl OI) |
2.590 |
|
Other Income |
0.280 |
|
Operating Profit |
2.870 |
|
Interest |
0.590 |
|
Exceptional Items |
0.000 |
|
PBDT |
2.280 |
|
Depreciation |
1.080 |
|
Profit Before Tax |
1.200 |
|
Tax |
0.480 |
|
Provisions and contingencies |
0.000 |
|
Profit After Tax |
0.720 |
|
Extraordinary Items |
0.000 |
|
Prior Period Expenses |
0.000 |
|
Other Adjustments |
0.000 |
|
Net Profit |
0.720 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.67 |
0.37 |
0.57 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
3.17 |
2.30 |
2.52 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.82 |
1.30 |
1.91 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.03 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.24 |
0.24 |
0.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.52 |
1.37 |
1.34 |
STOCK
PRICES
|
Face Value |
Rs.10.00/- |
|
|
|
|
Market Value |
Rs.31.65/- |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
30.897 |
30.897 |
30.897 |
|
Reserves & Surplus |
98.072 |
100.491 |
103.651 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
128.969 |
131.388 |
134.548 |
|
|
|
|
|
|
Long-term borrowings |
10.088 |
6.562 |
2.569 |
|
Short term borrowings |
32.957 |
24.888 |
30.046 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
43.045 |
31.450 |
32.615 |
|
Debt/Equity
ratio |
0.334 |
0.239 |
0.242 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
705.212 |
648.406 |
473.944 |
|
|
|
(8.055) |
(26.906) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
705.212 |
648.406 |
473.944 |
|
Profit |
4.003 |
2.418 |
3.160 |
|
|
0.57% |
0.37% |
0.67% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
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 |
No |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10322529 |
05/12/2011 |
8,000,000.00 |
ICICI
BANK LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B27635127 |
|
2 |
10313445 |
21/10/2011 |
20,000,000.00 |
ICICI
BANK LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B23633027 |
|
3 |
10312791 |
19/10/2011 |
17,000,000.00 |
HDFC
BANK LIMITED |
HDFC
BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013,
MAHARASHTRA, INDIA |
B23437551 |
|
4 |
10101754 |
29/10/2012
* |
195,000,000.00 |
ICICI
BANK LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B62528450 |
|
5 |
80001467 |
20/10/2012
* |
195,000,000.00 |
ICICI
BANK LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B62630538 |
* Date of charge modification
OPERATIONS
The company has performed reasonably well during the year. In a highly competitive business environment, the Company achieved a turnover of Rs. 473.944 Million as against Rs. 648.406 Million achieved last year - a decrease of around 26.91%. Production of 212.4565 tons of pharmaceutical chemicals was achieved during the year
EXPORTS
During the year 2014 -2015 the company's export division registered sales of Rs. 85.538 Million, down from Rs . 175.371 Million last year. The Company has initiated several export promotion measures to increase exports. The products of your Company have been well accepted in the international market and the Company expects better export turnover in the coming years.
MANAGEMENT DISCUSSION AND ANALYSIS
INDUSTRY STRUCTURE AND DEVELOPMENTS
The Company is a producer of pharmaceutical chemicals. The intermediates produced are used in pharmaceutical and chemical industries. The Company is amongst the manufacturers who produce for local and international needs of the pharmaceuticals and chemicals industry. The pharmaceutical and chemical industry is growing at a rapid pace every year. This results into growth of the support or intermediate industry like us.
PRODUCT PERFORMANCE
The company has two plants producing varied items. The basic purpose of producing in two different plant s is to improve efficiency and manageability. The Company shall achieve sustainable growth in both plants by modernization and automation of operations. According to the Directors, these plants facilitate better division of labour, enable us to develop expertise in each plant and their respective items, and hence improve productivity and profitability of the Company.
OUTLOOK
According to Yes Bank Report titled "Indian Pharmaceutical Industry: Vision 2015", the India n Pharmaceutical and Chemical industry is projected to grow at an annual rate of 14.2%. Currently valued at USD 10 Billion, the projected turnover to touch USD 50 Billion by the year 2015.
STATEMENT OF STANDALONE FINANCIAL RESULTS FOR
THE QUARTER ENDED JUNE 30, 2015
PART I
(Rs.
in Million)
|
|
Particulars |
Unaudited 30.06.2015 |
|
|
|
|
|
1. |
a)
Net Income from sales/services |
125.656 |
|
|
b)
Other operating income |
0.083 |
|
|
Total Income |
125.739 |
|
|
|
|
|
2. |
Expenses |
|
|
|
a)
(Increase)/ Decrease in stock in trade/WIP |
(6.728) |
|
|
b)
consumption of raw materials |
121.049 |
|
|
c)
Purchase of traded goods |
0.000 |
|
|
d)
Employee costs |
2.025 |
|
|
e)
Depreciation |
1.084 |
|
|
f)
Other expenses |
|
|
|
Manufacturing
expenses |
4.810 |
|
|
Administration
expenses |
1.164 |
|
|
Selling
and Distribution expenses |
0.832 |
|
|
Total Expenses |
124.236 |
|
|
|
|
|
3. |
Profit from Operations before
other income, Interest, and exceptional Items |
1.503 |
|
4. |
Other
Income |
0.284 |
|
5. |
Profit
before Interest and exceptional Items |
1.787 |
|
6. |
Interest
|
0.588 |
|
7. |
Profit
after Interest but before exceptional Items |
1.199 |
|
8. |
Exceptional
Items |
0.000 |
|
9. |
Profit/(Loss) from ordinary activities before tax |
1.199 |
|
10. |
Tax
expense (incl deferred tax) |
0.482 |
|
11. |
Profit/(Loss) from ordinary activities after tax |
0.717 |
|
12. |
Extraordinary items (net of tax expense) |
0.000 |
|
13. |
Net
profit/ (Loss) for the period |
0.717 |
|
14. |
Paid-up Eq. Share Capital (Face Value Rs.10/- each) |
30.897 |
|
15. |
Reserves excluding Revaluation Reserve |
104.369 |
|
16. |
Earnings
Per Share |
|
|
|
a) Basic and diluted EPS
before extraordinary items for the period, year-to-date, previous year |
0.23 |
|
|
b) Basic and diluted EPS
after before extraordinary items for the period, year-to-date, previous year |
0.23 |
|
17. |
Public Shareholding |
|
|
|
-
Number of Shares |
1629751 |
|
|
-
Percentage of Shareholding |
52.75 |
|
18. |
Promoters and promoter
group shareholding** |
|
|
|
a)
Pledge/Encumbered |
|
|
|
-Number
of Shares |
0.000 |
|
|
-Percentage
of Shares (as a % of the total shareholding of promoter and promoter group) |
0.000 |
|
|
-Percentage
of Shares (as a % of the total share capital of the Company) |
0.000 |
|
|
b)
Non-Encumbered |
|
|
|
-
Number of Shares |
1459949 |
|
|
-Percentage
of Shares (as a % of the total shareholding of promoter and promoter group) |
100.00 |
|
|
-Percentage
of Shares (as a % of the total share capital of the Company) |
47.25 |
|
|
||
|
|
Particulars |
30.06.2015 |
|
|
INVESTOR
COMPLAINTS |
|
|
|
Opening
balance as on (1.04.2015) |
0 |
|
|
Received
during the quarter |
1 |
|
|
Disposed
of during the quarter |
1 |
|
|
Remaining
balance as on (30.06.2015) |
0 |
NOTE:
· The above results were reviewed by the Audit Committee of the Board of Directors.
· The Statutory Auditors have carried out a limited review of the results for the quarter ended 30 June, 2015
· The above unaudited results have been taken on record by the Board of Directors at its Meeting held on Friday, 14 August 2015 at the Corporate Office of the Company.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2015 (Rs.
In Million) |
31.03.2014 (Rs.
In Million) |
|
Claims
against the company not acknowledged as debt |
|
|
|
Income tax assessment dues for AY 2011-12 under appeal pending before first appellate authority |
3.581 |
3.580 |
|
Contract labour claim |
0.150 |
0.000 |
|
Other money for
which the company is contingently liable |
|
|
|
LC issued by Company's bankers |
31.195 |
7.212 |
|
|
|
|
|
Total |
34.926 |
10.792 |
FIXED ASSETS:
· Tangible Assets
· Land
· Factory Building
· Office Premises
· Plant And Machinery
· Office Equipment
· Computer System
· Furniture And Fixtures
· Vehicles
Intangible Assets
· Goodwill
· Brands /trademarks
· Computer software
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 records 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.65.93 |
|
|
1 |
Rs.102.75 |
|
Euro |
1 |
Rs.75.13 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.