MIRA INFORM REPORT
|
Report No. : |
343038 |
|
Report Date : |
29.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
LAURUS LABS PRIVATE LIMITED [w.e.f.21.02.2012] |
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Formerly Known
As : |
APTUIT LAURUS PRIVATE LIMITED [w.e.f.24.07.2007] APTUIT LAURUS LIMITED [w.e.f.19.07.2007] LAURUS LABS LIMITED [w.e.f.12.02.2007] LAURUS LABS PRIVATE LIMITED |
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Registered
Office : |
Plot No. 21, Jawaharlal Nehru Pharma City, Parawada, Visakhapatnam –
531021, Andhra Pradesh |
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Tel. No.: |
91-40-39804333/ 23420500/ 501 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
19.09.2005 |
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Com. Reg. No.: |
01-047518 |
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Capital
Investment / Paid-up Capital : |
Rs. 778.400 Million |
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CIN No.: [Company Identification
No.] |
U24239AP2005PTC047518 |
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IEC No.: |
0905017846 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCL1170C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Special Ingredients for use in Nutraceutical, Dietary Supplements and Cosmeceutical Products. |
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No. of Employees
: |
1800 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (55) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 10290000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having fine track record. Rating takes into consideration strong financial risk profile of the
company marked by strong networth base and decent profit margin of the
company in FY2014. Overall financial condition of the company appears to be
healthy and strong. Trade relations are fair. Business is active. Payment terms are
reported as regular and as per commitments. In view of experienced promoters and various strategic partnerships
with reputed organisation, the subject can be considered good 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 |
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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 |
CARE |
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Rating |
Long term Bank facilities = A |
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Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
August 07, 2015 |
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Rating Agency Name |
CARE |
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Rating |
Short term Bank facilities = A1 |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
July 29, 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. Prakash K. |
|
Designation : |
Finance Department |
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Contact No.: |
91-40-39804333 |
|
Date : |
28.09.2015 |
LOCATIONS
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Registered Office/ Factory 1 : |
Plot No. 21, Jawaharlal Nehru Pharma City, Parawada, Visakhapatnam –
531021, Andhra Pradesh, India |
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Tel. No.: |
91-891-3061222/ 6601222 |
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Fax No.: |
91-891-3061270 |
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E-Mail : |
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Website : |
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Corporate Office : |
2nd Floor, Serene Chambers, Road # 7, Banjara Hills, Hyderabad – 500034, Andhra Pradesh, India |
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Tel. No.: |
91-40-39804333/ 23420500/ 501/ 66594333 |
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Fax No.: |
91-40-39804320 |
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Research and
Development : |
Plot No. DS1, IKP Knowledge Park, Turkapally, Shameerpet Mandal, District Ranga Reddy - 500078, Telangana, India |
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Tel. No.: |
91-40-30413333/ 66433333 |
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Fax No.: |
91-40-23480481 |
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Factory 2 : |
Plot No. 19, 20, 21, APSEZ, Gurajapalem, Atchutapuram, Visakhapatnam - 531011, Andhra Pradesh, India |
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Factory 3 : |
Plot No. 18, JN Pharma City, Parawada, Visakhapatnam - 531021, Andhra Pradesh, India |
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Tel. No.: |
91-891-3072500/ 6682500 |
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Fax No.: |
91-891-3072501 |
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Factory 4 : |
Plot No 25, Lalamkoduru, Atchutapuram, Visakhapatnam - 531011, Andhra Pradesh, India |
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Factory 5 : |
Plot No. 102 and 103, SEZ, Lemarthi, Parwada, Visakhapatnam - 531021, Andhra Pradesh, India |
DIRECTORS
AS ON 25.07.2014
|
Name : |
Dr. Satyanarayana Chava |
|
Designation : |
Whole-time director |
|
Address : |
H. No. 8-2-293/82/A/303, Plot No.303, Road No.25, Jubilee Hills, Hyderabad - 500033, Andhra Pradesh, India |
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Date of Birth/Age : |
10.03.1961 |
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Qualification : |
M Sc, Ph D |
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Experience : |
28 Years |
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Date of Appointment : |
21.01.2006 |
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PAN No.: |
ABWPC2407Q |
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DIN No.: |
00211921 |
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Name : |
Dr. Kalidindi Srihari Raju |
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Designation : |
Whole-time director |
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Address : |
Villa No.3, Aparna Orchids, Izzatnagar, Kondapur, Hyderabad - 500084, Andhra Pradesh, India |
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Date of Birth/Age : |
01.07.1963 |
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Qualification : |
M Sc, Ph D |
|
Experience : |
28 Years |
|
Date of Appointment : |
24.04.2006 |
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PAN No.: |
ASTPK1009N |
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DIN No.: |
00982034 |
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Name : |
Mr. Venkata Ravi Kumar Vantaram |
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Designation : |
Whole-time director |
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Address : |
Villa No.29, Lalitha Bloom Field, Adj. Oakridge International School, Khajaguda, Hyderabad - 500008, Andhra Pradesh, India |
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Date of Birth/Age : |
01.07.1965 |
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Qualification : |
M Com, FCMA |
|
Experience : |
25 Years |
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Date of Appointment : |
30.11.2006 |
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PAN No.: |
ACFPV4907L |
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DIN No.: |
01424180 |
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Name : |
Mr. Rajesh Kumar Dugar |
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Designation : |
Director |
|
Address : |
31, Chitrakoot, Altamount Road, Mumbai - 400026, Maharashtra, India |
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Date of Birth/Age : |
01.07.1969 |
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Date of Appointment : |
14.02.2012 |
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DIN No.: |
00307729 |
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|
Name : |
Dr. Robert Mark Weisskoff |
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Designation : |
Director |
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Address : |
18, Preston Road, Lexington, Massachusetts, 024203227, United States of America |
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Date of Birth/Age : |
22.06.1962 |
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Date of Appointment : |
14.02.2012 |
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DIN No.: |
05122018 |
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Name : |
Mr. Brian Thomas Regan |
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Designation : |
Director |
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Address : |
115, Bay Berry Road, New Canaan, Connecticut, 06840, United States of America |
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Date of Birth/Age : |
29.11.1977 |
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Date of Appointment : |
14.02.2012 |
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DIN No.: |
05205905 |
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Name : |
Mr. Francis Jackson Wright |
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Designation : |
Director |
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Address : |
10 Greenwich Terrace, 104 Ritch Avenue West, Greenwich, CT, 06831, United States of America |
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Date of Birth/Age : |
24.01.1948 |
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Date of Appointment : |
14.02.2012 |
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DIN No.: |
01609467 |
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Name : |
Mr. Amal Ganguli |
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Designation : |
Director |
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Address : |
J - 6/7, DLF Phase - II, Gurgaon - 122002, Haryana, India |
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Date of Birth/Age : |
17.10.1939 |
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Date of Appointment : |
30.08.2007 |
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DIN No.: |
00013808 |
KEY EXECUTIVES
|
Name : |
Mr. Prakash K. |
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Designation : |
Finance Department |
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Name : |
Mr. Nagaraj Kumar Annabattula |
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Designation : |
Secretary |
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Address : |
5-22, Sai Vihar Nagar, Phase-I, Meerpet, Ranga Reddy District, Hyderabad - 500079, Andhra Pradesh, India |
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Date of Birth/Age : |
05.05.1975 |
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Date of Appointment : |
16.06.2007 |
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PAN No.: |
AEJPA0477L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.07.2014
NOTE: SHAREHOLDING & ALLOTEES DETAILS FILE ATTACHED
AS ON 25.07.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
30.27 |
|
Bodies
corporate |
1.30 |
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Directors
or relatives of directors |
52.34 |
|
Other
top fifty shareholders |
15.54 |
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Others
|
0.55 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Special Ingredients for use in Nutraceutical, Dietary Supplements and Cosmeceutical Products. |
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Products/ Services : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
· South Africa · European Countries |
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Imports : |
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Products : |
Raw Material |
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Countries : |
· China · European Countries |
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Terms : |
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Selling : |
Cheque and Credit |
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Purchasing : |
Cheque and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users and OEMs
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No. of Employees : |
1800 (Approximately) |
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Bankers : |
· State Bank of India Overseas Branch, 2nd Floor Rajala Centre Road No.36 Jubilee Hills, Hyderabad - 500033, Andhra Pradesh, India · Bank of Bahrain and Kuwait B.S.C. 6-3-550, L.B. Bhawan, Akashganga, Somajiguda, Hyderabad - 500082, Andhra Pradesh, India · Export-Import Bank of India Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade - 400005, Maharashtra, India · Punjab National Bank 4-1-427, AGM's Office, Bank Street, Hyderabad - 500001, Andhra Pradesh, India · Kotak Mahindra Bank Limited 1-7-1, T. Subbarami Reddy Complex, Sardar Patel Road, Secunderabad - 500003, Andhra Pradesh, India · IDBI Bank Limited 5-9-89/1&2, Chapel Road, Hyderabad - 500001, Telangana, India · HDFC Bank Limited 4TH Floor, 1-10-60/3, Suryodaya, Begumpet, Hyderabad - 500016, Telangana,
India · The Hongkong and Shanghai Banking Corporation Limited 6-3-1107 and 1108, Raj Bhavan Road, Somajiguda, Hyderabad - 500082,
Telangana, India · The Ratnakar Bank Limited Shahupuri, Kolhapur, Kolhapur - 416001, Maharashtra, India · State Bank of Hyderabad Industrial Finance Branch, Topaz Building, Amrutha Hills, Punjagutta,
Hyderabad – 500082, Telangana, India · Citibank N. A. 1st Floor, Queens Plaza, Sardar Patel Road, Hyderabad - 500003,
Telangana, 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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Financial Institution : |
· SBI Global Factors Limited 6th Floor, Metropolitan Building, Bandra-Kurla, Complex, Bandra
(East), Mumbai - 400051, Maharashtra, India |
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Auditors : |
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|
Name : |
S.R. Batliboi and Associates Chartered Accountants |
|
Address : |
Plot No. 18, Oval Office, ILABS Centre, Software Units Layout,
Hitee City, Madhapur, Hyderabad – 500081, Andhra Pradesh, India |
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Income-tax
PAN of auditor or auditor's firm : |
AABFS3421N |
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Memberships : |
-- |
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Collaborators : |
-- |
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Company which
exercises significant influence : |
· FIL Capital Management (Mauritius) Limited · FIL Capital Advisor Trustee Company Private Limited |
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Subsidiary
company : |
Viziphar Biosciences Private Limited [U73100KA2005PTC037593] |
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Company where
control exists : |
Laurus Infosystems (India) Private Limited [U72300TG2014PTC092281] |
CAPITAL STRUCTURE
AFTER 25.07.2014
Authorised Capital : Rs. 880.000
Million
Issued, Subscribed & Paid-up Capital : Rs. 821.348
Million
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20,899,496 |
Equity Shares |
Rs. 10/- each |
Rs. 208.995 Million |
|
6,900,000 |
Preference Shares [Series A] |
Rs. 10/- each |
Rs. 69.000 Million |
|
2,477,387 |
Preference Shares [Series B] |
Rs. 243/- each |
Rs. 602.005 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 880.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15,379,755 |
Equity Shares |
Rs. 10/- each |
Rs. 153.798 Million |
|
2,259,060 |
Preference Shares [Series A] |
Rs. 10/- each |
Rs. 22.591 Million |
|
2,477,387 |
Preference Shares [Series B] |
Rs. 243/- each |
Rs. 602.005 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 778.400
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 |
778.400 |
777.010 |
777.010 |
|
(b) Reserves & Surplus |
2824.810 |
1815.980 |
914.850 |
|
(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) |
3603.210 |
2592.990 |
1691.860 |
|
|
|
|
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|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
1881.720 |
687.030 |
363.370 |
|
(b) Deferred tax liabilities (Net) |
128.260 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
41.810 |
|
(d)
long-term provisions |
39.330 |
28.010 |
17.730 |
|
Total
Non-current Liabilities (3) |
2049.310 |
715.040 |
422.910 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
3121.840 |
1778.420 |
1289.880 |
|
(b)
Trade payables |
2274.510 |
1322.410 |
968.350 |
|
(c)
Other current liabilities |
1641.160 |
569.010 |
718.750 |
|
(d)
Short-term provisions |
80.380 |
57.060 |
59.750 |
|
Total
Current Liabilities (4) |
7117.890 |
3726.900 |
3036.730 |
|
|
|
|
|
|
TOTAL |
12770.410 |
7034.930 |
5151.500 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
4940.130 |
2342.640 |
1862.530 |
|
(ii)
Intangible Assets |
46.780 |
12.890 |
2.870 |
|
(iii)
Capital work-in-progress |
1160.990 |
727.810 |
321.150 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
4.550 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
118.200 |
97.000 |
|
(d) Long-term Loan
and Advances |
694.610 |
328.500 |
92.360 |
|
(e)
Other Non-current assets |
230.510 |
196.240 |
131.020 |
|
Total
Non-Current Assets |
7077.570 |
3726.280 |
2506.930 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
3280.970 |
1561.900 |
986.320 |
|
(c)
Trade receivables |
1948.750 |
1566.960 |
1483.140 |
|
(d)
Cash and cash equivalents |
149.660 |
26.690 |
43.440 |
|
(e)
Short-term loans and advances |
252.460 |
124.180 |
78.170 |
|
(f)
Other current assets |
61.000 |
28.920 |
53.500 |
|
Total
Current Assets |
5692.840 |
3308.650 |
2644.570 |
|
|
|
|
|
|
TOTAL |
12770.410 |
7034.930 |
5151.500 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
REVENUE [NET] |
11597.000 |
7185.000 |
4507.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
2206.000 |
1499.000 |
794.000 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
639.000 |
412.000 |
396.000 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1567.000 |
1087.000 |
398.000 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
329.000 |
226.000 |
183.000 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1238.000 |
861.000 |
215.000 |
|
|
|
|
|
|
|
Less |
TAX |
247.000 |
(21.000) |
0.000 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
991.000 |
882.000 |
215.000 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
Basic |
64.80 |
57.88 |
19.45 |
|
|
Diluted |
48.86 |
43.41 |
9.64 |
|
PARTICULARS |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
13190.000 |
|
|
|
|
|
Expected Sales (2015-2016): Rs. 18000.000 Million
The above information has been parted by Mr. Prakash (Finance
Department)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
437.000 |
462.570 |
601.680 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash flow from (used in) Operations |
1752.760 |
738.540 |
34.370 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
8.55 |
12.28 |
4.77 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
19.02 |
20.86 |
17.62 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.67 |
13.91 |
4.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34 |
0.33 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.51 |
1.13 |
1.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.80 |
0.89 |
0.87 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
777.010 |
777.010 |
778.400 |
|
Reserves & Surplus |
914.850 |
1815.980 |
2824.810 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1691.860 |
2592.990 |
3603.210 |
|
|
|
|
|
|
Long-term borrowings |
363.370 |
687.030 |
1881.720 |
|
Short term borrowings |
1289.880 |
1778.420 |
3121.840 |
|
CURRENT MATURITIES OF LONG-TERM DEBTS |
601.680 |
462.570 |
437.000 |
|
Total
borrowings |
2254.930 |
2928.020 |
5440.560 |
|
Debt/Equity ratio |
1.333 |
1.129 |
1.510 |
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) |
|
Revenue [Net] |
4507.000 |
7185.000 |
11597.000 |
|
|
|
59.419 |
61.406 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Revenue [Net] |
4507.000 |
7185.000 |
11597.000 |
|
Profit |
215.000 |
882.000 |
991.000 |
|
|
4.77% |
12.28% |
8.55% |
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 |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
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 |
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
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 |
10555574 |
19/03/2015 |
20,450,000.00 |
THE HONGKONG AND SHANGHAI BANKING
CORPORATION LIMITED |
6-3-1107 & 1108, RAJ BHAVAN ROAD,
SOMAJI GUDA, HYDERABAD, TELANGANA - 500082, INDIA |
C46966628 |
|
2 |
10557467 |
21/08/2015 * |
1,450,000,000.00 |
PUNJAB NATIONAL BANK |
4-1-427, AGM'S OFFICE, BANK STREET,
HYDERABAD, TELANGANA - 500001, INDIA |
C64130958 |
|
3 |
10522636 |
21/08/2015 * |
14,418,200,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, 2ND FLOOR RAJALA CENTRE
ROAD NO. |
C62086202 |
|
4 |
10511813 |
21/08/2015 * |
500,000,000.00 |
IDBI BANK LIMITED |
5-9-89/1&2, CHAPEL ROAD, HYDERABAD,
TELANGANA - 500001, INDIA |
C64330087 |
|
5 |
10509809 |
24/06/2014 |
500,000,000.00 |
HDFC BANK LIMITED |
4TH FLOOR, 1-10-60/3, SURYODAYA, BEGUMPET,
HYDERABAD, TELANGANA - 500016, INDIA |
C11876349 |
|
6 |
10503289 |
10/06/2014 |
600,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING
CORPORATION LIMITED |
6-3-1107 & 1108,RAJ BHAVAN ROAD,
SOMAJIGUDA, HYDERABAD, TELANGANA - 500082, INDIA |
C06792279 |
|
7 |
10496476 |
30/05/2014 |
500,000,000.00 |
THE RATNAKAR BANK LIMITED |
SHAHUPURI, KOLHAPUR, KOLHAPUR, MAHARASHTRA
- 416001, INDIA |
C05080049 |
|
8 |
10486674 |
21/08/2015 * |
450,000,000.00 |
STATE BANK OF HYDERABAD |
INDUSTRIAL FINANCE BRANCH, TOPAZ BUILDING,
AMRUTHA HILLS, PUNJAGUTTA, HYDERABAD, TELANGANA - 500082, INDIA |
C64378649 |
|
9 |
10468024 |
21/08/2015 * |
490,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE
CENTRE |
C64711989 |
|
10 |
10449850 |
06/09/2013 |
225,300,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI,
BARODA, GUJARAT - 390015, INDIA |
B85312635 |
|
11 |
10441811 |
21/05/2014 * |
250,000,000.00 |
CITIBANK N. A. |
1ST FLOOR, QUEENS PLAZA, SARDAR PATEL ROAD,
HYDERABAD, TELANGANA - 500003, INDIA |
C06778351 |
|
12 |
10406036 |
21/08/2015 * |
1,000,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE
CENTRE |
C64890692 |
|
13 |
10373290 |
22/12/2014 * |
1,225,000,000.00 |
ING VYSYA BANK LIMITED |
22, M G ROAD, BANGALORE, BANGALORE,
KARNATAKA - 560001, INDIA |
C38042040 |
|
14 |
10369823 |
21/08/2015 * |
284,000,000.00 |
BANK OF BAHRAIN & KUWAIT B.S.C |
43, GOVERNMENT AVENUE, P O BOX 597, MANAMA,
- |
C64051543 |
|
15 |
10316958 |
21/05/2014 * |
329,000,000.00 |
BANK OF BAHRAIN & KUWAIT B.S.C |
6-3-550, L.B. BHAWAN, AKASHGANGA,
SOMAJIGUDA, HYDERABAD, TELANGANA - 500082, INDIA |
C06777387 |
|
16 |
10313484 |
21/05/2014 * |
430,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI,
BARODA, GUJARAT - 390015, INDIA |
C06975890 |
|
17 |
10213560 |
21/05/2014 * |
200,000,000.00 |
PUNJAB NATIONAL BANK |
4-1-427, AGM'S OFFICE, BANK STREET,
HYDERABAD, ANDHRA PRADESH - 500001, INDIA |
C06961643 |
|
18 |
10146201 |
21/05/2014 * |
1,000,000,000.00 |
STATE BANK OF HYDERABAD |
INDUSTRIAL FINANCE BRANCH, TOPAZ BUILDING,
AMRUTHA HILLS, PUNJAGUTTA, HYDERABAD, ANDHRA PRADESH - 500082, INDIA |
C06970057 |
|
19 |
10074320 |
26/07/2014 * |
3,788,500,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, 2ND FLOOR, RAJALA CENTRE,
ROAD NO.36, JUBILEE HILL, HYDERABAD, TELANGANA - 500033, |
C16547770 |
* Date of charge modification
CHANGE OF ADDRESS
The Registered Office of the Company has been shifted from
2nd Floor, Serene Chambers, Road No.7, Banjara Hills, Hyderabad - 500034,
Andhra Pradesh, India to the present address.
BUSINESS OPERATIONS
During the year the Company achieved:
· Growth of 61 % revenue, 47 % EBITDA and 44 % PBT over previous year
· Development of 8 API Products totaling to 45 commercialised Products
· Filing of 1 drug master file totaling to 24 products and validated 3 drug master files owned by customers
· Filing of 25 patents totaling to 93 patents
· Expansion of 3 additional production blocks with a capex of around Rs.1.30 Billion in the existing manufacturing facility situated in JNPC,
· Visakhapatnam
· Construction of another large scale manufacturing facility in JNPC, Visakhapatnam, which will be operational from June 2014
· Acquisition of two pieces of land admeasuring 45.00 and 44.30 acres in Acthuthapuram, Visakhapatnam for future expansion.
· Infusion of equity of Rs.3.00 Billion into the Company by one of the world renowned private equity firm and the same is going to be completed shortly
·
Acquisition of Viziphar Biosciences Private
Limited as wholly owned subsidiary in order to enter into natural Ingredients
business
OUTLOOK
Business prospects remaining positive because of the growing global demand for generics and opportunities provided by patent expires in developed markets.
The business proportions and synergies forms part of growth
prospects.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
|
|
|
|
Outstanding bank guarantees (excluding performance
obligations) |
46.870 |
0.000 |
|
Bills Discounted |
1634.500 |
886.330 |
|
Demand for direct taxes under appeal # |
10.100 |
10.100 |
|
Demand for indirect taxes under appeal # |
0.000 |
1.650 |
|
Preference Dividend |
0.020 |
0.010 |
|
|
|
|
|
Total |
1691.490 |
898.090 |
|
# Based on
favourable decisions in similar cases, legal opinion taken by the Company,
discussions with the solicitors, etc., the Company believes that there is a
fair chance of decisions in its favour with respect to all the items listed
above and hence no provision has been considered necessary in these respects.
|
||
FIXED ASSETS:
· Land
· Buildings
· Plant and equipment
· Other plant and equipment
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Office equipment
· Computer equipments
·
Computer software
PRESS RELEASES
VISAKHAPATNAM-BASED
LAURUS LABS GETS RS 5500.000 MILLIONS INVESTMENT FROM WARBURG PINCUS
Warburg
Pincus will join Fidelity Growth Partners India and Fidelity Biosciences, who
led an earlier round of investment, as an investor in the company
Wednesday,
29 October 2014
Laurus Labs, a Visakhapatnam-based leading developer and API
manufacturer, today said an affiliate of Warburg Pincus, a leading global
private equity firm, has acquired a minority stake in the company by investing
approximately Rs 5500.000 Millions. Warburg
Pincus will join Fidelity Growth Partners India (FGPI) and Boston-based Fidelity
Biosciences, who led an earlier round of investment in 2012, as an investor in
the company. The company has not disclosed terms of the transaction, a Laurus
statement said.
Laurus is a leading manufacturer of APIs for anti-retroviral (ARV),
oncology, cardio-vascular, anti-diabetic therapeutic segments. The company
also has a presence in nutraceuticals and several other products, with a
customer base that spans top-tier generic pharmaceutical companies in India and
abroad. In addition to the API business, the company has a fast-growing
contract manufacturing business that caters to several generic and
innovation-driven, global pharmaceutical companies.
Laurus has grown rapidly since its first full year of commercial
operations in 2008, recording revenues of around Rs 12000.000 Millions in FY2013-14. "We are glad
to partner with Warburg Pincus in this phase of our growth where we will seek
to continue the thrust on innovation and manufacturing excellence in offering
cost-effective products and services and foraying into new business
segments. In addition to securing growth capital, we look forward to
leveraging Warburg Pincus' deep domain expertise and global network of
relationships to help enter new markets and add to our customer base,"
Laurus Chief Executive Officer (CEO), Dr. Satyanarayana Chava said.
Commenting on the transaction, Niten Malhan, Managing Director and
co-head of Warburg Pincus India Private Limited said, "We are excited
about the Laurus platform and its exceptional management team focus on
innovation and developing a strong organisation has enabled Laurus to emerge as
a global leader in the generic ARV API segment and well positioned the company
to benefit from its initiatives to enter other attractive segments of the
global pharmaceutical industry."
LAURUS LABS TO
INVEST RS 2000.000 MILLIONS
Two
new manufacturing facilities would be set up near Visakhapatnam to take total
capacity to 1.4 mn litres from the present 800,000 litre
June 4, 2013
City-based Laurus Labs, which specialises in manufacturing active pharmaceutical ingredients (APIs) for AIDS and oncology drugs, is planning to invest Rs 2000.000 Millions in the next 18 months for capacity expansion.
Company's founder and chief executive officer Satyanarayana
Chava on Tuesday said two new manufacturing facilities would be set up in
addition to the existing one near Visakhapatnam to take the total capacity to
1.4 million litres from the present 800,000 litre. The expansion would be
funded through internal resources.
It may be recalled Fidelity Growth Partners India had invested Rs 2000.000
Millions in Laurus last year by way of acquiring the stake of Uptuit Inc, a
US-based contract R&D services provider with which the company had a
partnership.
Set up in 2006, Laurus was into only R&D for
the first couple of years. It achieved revenues of Rs 7200.000 Millions last
year, according to its founder. The company makes 50 per cent supplies to large
Indian companies, including Ranbaxy and Dr. Reddy's Laboratories, and the rest
to companies in Europe, North America and Africa. It also has plans to expand
into making APIs for
products targeting diabetes.
The former chief operating officer of erstwhile
Matrix Laboratories said even being an API player, the company enjoyed high
margins on the back of in-house R&D and process technology. Of its 1,100
employees, 600 are deployed in R&D.
ISB,
Laurus partner to start course on technology commercialization
The Indian School of Business (ISB) is launching
an education programme on technology commercialisation for scientists and
R&D professionals starting next month. The initiative is targeted at
equipping them with knowledge on how to put technology and innovation to
commercial use through entrepreneurship development and other modes.
The launch of the course also marks the single
largest individual alumni grant of Rs 3.000 Millions from Satyanarayana Chava,
CEO of Laurus Labs, a city-based API (active pharmaceutical ingredients)
manufacturing and R&D company. It would be used to partly fund up to 25
candidates in the first batch.
ISB deputy dean Deepak Chandra said there was a
knowledge gap among scientists in taking technology to the market. The
institute had been receiving response from scientists and research
professionals from various backgrounds, including agriculture, IT and pharma
sectors besides government establishments like the Defence Research and
Development Organisation.
The programme, a first-of its-kind, is divided
into four phases starting with providing academic inputs on business acumen
followed by development of business plan and metering. It is also open to
providing incubation and funding tie-ups to technology and intellectual
property owned by these candidates, according to him.
Chava said as a scientist-turned-entrepreneur
heading a company with focus on research and innovation it would be a rightful
cause in helping others tread the same path through this partnership.
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. 66.08 |
|
|
1 |
Rs. 100.32 |
|
Euro |
1 |
Rs. 73.81 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
55 |
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.